Wednesday, october 26, 2016 by Newtelegraphonline

NEC expresses fear over imported poisoned foods Anule Emmanuel Abuja

he National Economic Council (NEC) has warned

...orders SON, NAFDAC to begin screening

the Standard Organisation of Nigeria (SON), National Agency for Foods and Drugs Administration and Control

(NAFDAC) and other federal agencies responsible for quality control to stop the importation of poisoned foods into the

country. NEC, presided over by Vice-President Yemi Osinbajo, comprises governors of the 36 states of the Fed-

eration, Secretary to the Government of the Federation (SGF), Governor of the Central Bank of Nigeria (CBN), Ministers

of Budget and National Planning, and Finance. The NEC members, who are worried by the level of contaminated foods importation into the country, diCONTINUED ON PAGE 4

Sanctity Of Truth

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

Dasuki didn’t steal $2.2bn arms funds – Jonathan }4

/newtelegraph /newtelegraph

Vol. 3 No. 980

Wednesday, October 26, 2016

Jonathan

PDP 'killed' Alamieyeseigha, wife alleges }42

The late Alamieyeseigha

NERC chair: Buhari's nominee rejects offer }6

@newtelegraph1 www.newtelegraphonline.com @newtelegraph1 www.newtelegraphonline.com

Buhari

Army arrests 30 soldiers, policemen, others over sabotage }2

N150

Buratai

Buhari seeks $29.96bn loan

President requests N181bn virement in 2016 budget DMO to FG: Don’t borrow above $22.08bn }2 Lagos rescues 30 kid beggars, arrests eight prostitutes

1. Some of the rescued kid-beggars 2. The three boys arrested for cleaning windscreens 3. The eight prostitutes arrested in Lagos...yesterday

PHOTOS: Muritala Ayinla

Avengers blow up Chevron’s Escravos oil facility lAmnesty: Reps, stakeholders back legal framework New technique lowers blood pressure at no cost

NEWS

WednESDAY, OCTOBER 25, 2016 NEW TELEGRAPH

Budget: Buhari seeks $29.96bn loan Philip Nyam and Chukwu David Abuja

resident Muhammadu Buhari is seeking the approval of the National Assembly to take a loan of $29.960 billion as part of the external borrowing (rolling) plan for the 2016-2018 fiscal year. The president also requested for virement of N180.8 billion in the 2016 budget for provision of needed votes for some sectors. The president’s request for the external borrowing was contained in two separate letters dated October 20, 2016 and addressed to the Senate President, Dr. Bukola Saraki, and Speaker of the House of Representatives, Mr. Yakubu Dogara, which were read on the floor of both chambers yesterday. If the National Assembly approves the request, Nigeria's external debt component will hit an alltime high figure of $41.26 billion. Nigeria's current exter-

nal debt as of June 2016, according to Debt Management Office (DMO) data, stood at $11.26 billion. Buhari, in the threepage letter, explained that the sum of $11.274 billion is for special national infrastructure projects while the sum of $10.686 billion is for Euro bonds of $4.5 billion and Federal Government Budget Support of $3.5 billion. The borrowing plan, according to the president, would enable Federal Government to implement various sectoral developmental projects in infrastructure, agriculture, health, education, water supply, growth and employment generation, poverty reduction through social safety net programmes and governance and financial management reforms, among others. “I would like to underscore the fact that the projects and programmes in the borrowing plan were selected based on positive technical economic evaluations as well as the contribution they would make to the socio-economic development of the coun-

Boko Haram: Army arrests 30 soldiers, policemen, others over sabotage Emmanuel Onani Abuja

he Nigerian Army has arrested 30 people suspected to be sabotaging the ongoing counter-insurgency and counter-insurgency operation in the North-East. The alleged saboteurs include two officers, two soldiers, two policemen and 24 civilians. Their actions are said to be responsible for the seeming reversal of gains made so far by the military, in the fight to defeat Boko Haram. The disclosure was made yesterday in a statement by the Acting Director, Army Public Relations (DAPR), Col. Sani Usman. According to Usman, efforts were being intensified towards the arrest of more suspects. "Please be informed that the ongoing investigation on suspected Boko Haram terrorists’ collaborators and saboteurs in the fight against terrorism and insurgency has led to the arrest of nine more persons over the last 24 hours, thus bringing the number to 30. "This comprise two officers, two soldiers, two policemen and 24 civilians. Many more suspects would be arrested and

prosecuted based on evidences against them and level of culpability," the Army said. It will be recalled that suspected Boko Haram elements had, in recent times, launched fierce attacks on some troops' locations, and communities in the NorthEast. The seeming resurgence of these attacks, some of which had resulted in casualties, is said to be of great concern to the Army authorities. A military source, who spoke in confidence with New Telegraph, said: "The Chief of Army Staff (COAS) and other Army authorities are worried about reports of attacks on troops' location, and some villages in Borno State. "I'm sure you are aware of the fact that some days back, our troops came under heavy attack by BHT at a Northern Borno town that borders Niger Republic. "The authorities do not accept the fact that with the level of success, occasioned by enhanced equipment and high morale, BHT will never overpower troops again. "They have, therefore, ordered an all-out investigation, to apprehend saboteurs within, and their civilian collaborators."

try, including employment generation and poverty reduction and protection of the most vulnerable and very poor segment of the Nigerian society,” he stated. The president noted that “the projects and programmes will be implemented in all the 36 states and the Federal Capital Territory.” Buhari said: "Considering the huge infrastructure deficit currently being experienced in the country and enormous financial resources required to fill the gap in the face of the dwindling resources and the inability of our national budgetary provisions to bridge the infrastructure deficit, it has become necessary to resort to prudent external borrowing to bridge the financing gap which will largely be applied to infrastructure projects namely: power, railway, and road projects, among others." He also disclosed that the World Bank has ap-

proved $125 million loan for the procurement of vaccines and other ancillary facilities urgently required to effectively embark on the campaign to stop and eventually eliminate the polio outbreak, especially in the North-East, and other states of the federation. Other projects include: $75 million for community and social development project; $125 million for Nigeria States Health Programme Investment Project; $100 million for State Education Programme Investment Project; $100 million for Nigeria Youth Employment and Social Support Project and $50 million for FADAMA III Project respectively. While assuring the legislature of his administration's resolve to ensure prudent utilisation of the funds, Buhari argued that the proposed external borrowing plan include some emergency projects that require "immediate and urgent approval to avert

long term damage." He lamented that the recent outbreak of polio in the North-East is a matter of concern, especially following the recent delisting of Nigeria from the list of polio endemic countries. He also expressed optimism that the approval of the funding proposal will go a long way to complement ongoing efforts toward restoration of peace and normalcy to the NorthEast. “Given the emergency nature of these facilities and the need to consolidate the peace and return the region to normalcy and considering the time it will take to get National Assembly’s approvals, it has become inevitable to request for the NASS leadership’s approval pending the consideration and approval of the 2016-2018 borrowing plan by the National Assembly to enable us disburse these funds immediately,” the president requested.

And in a bid to ensure effective appropriation and capturing of the external borrowing inflow into the country from various donor agencies, the House Committee on Aids, Loans and Debt Management has flagged off the review of the foreign aids inflow. The committee, headed by Hon. Adeyinka Ajayi (APC-Osun), during its working visit to Japanese International Cooperation Agency (JICA), stressed the need to ascertain the status of major projects implemented so far through the agency. Ajayi underscored the need for the Parliament to be part of all the process before the commencement of any projects, noting that funding of the ongoing projects through loans should be known to the committee which critical oversight function is on foreign loans, aids and debt management. He urged JICA to proCONTINUED ON PAGE 5

L-R: Vice President, Shell Nigeria and Gabon, Mr. Peter Costello; Director, Shell Global/ Upstream, Mr. Andrew Brown and President Muhammadu Buhari, during a visit to the president in Abuja… yesterday. PHOTO: TIMOTHY IKUOMENISAN

DMO to FG: Don’t borrow above $22.08bn in 2017

he Debt Management Office (DMO) has advised the Federal Government not to borrow above $22.08 billion in 2017. DMO gave the recommendation yesterday in its 2016 Debt Sustainability Analysis (DSA) report, obtained by the News Agency of Nigeria (NAN) in Lagos. In the report, DMO stated that the end-period on Net Present Value (NPV) of the Total Public Debt-toGDP ratio for 2016 for the Federal Government was

0.16%

The percentage of individuals using the internet in Bangladesh in 2003. Source: Itu.int

0.5%

The annual population growth rate of South Africa in 2010-2015. Source: Un.org

projected at 13.5 per cent. “The maximum amount that can be borrowed (domestic and external) by the Federal Government of Nigeria in 2017, without violating the countryspecific threshold, will be $22.08 billion (i.e. 5.89 per cent of $374.95 billion). “The Debt Management Strategy, 2016-2019 provides for the rebalancing of the debt portfolio from its composition of 84:16 as at the end of December, 2015 to an optimal composition of 60:40 by the end of December, 2019 for domestic to external debts, respectively,” the report stated. It explained that the development supported the use of more external finance for funding capital projects, noting that the policy was in line with the focus of the present administration on speeding up infrastructure development in the country. The DMO stated that it

would achieve this by substituting the relatively expensive domestic borrowing in favour of cheaper external financing. The report states that: “This policy stance has been reinforced by the recent deterioration in macroeconomic variables, particularly with respect to the rising cost of domestic borrowing. “Hence, the shift of emphasis to external borrowing would help to reduce debt service burden in the short to medium-term and further create more borrowing space for the private sector in the domestic market. “Accordingly, for the fiscal year 2017, the maximum amount that can be borrowed is $22.08 billion and it is proposed to be obtained from both the domestic and external sources as follows: “New Domestic Borrowing $5.52 billion

(equivalent of about N1.6 trillion) and New External Borrowing: $16.56 billion (equivalent of about N4.8 trillion).” The DMO also emphasised that the recommendation was made, taking into account the absorptive capacity of the domestic debt market and the options available in the external market. Nigeria’s total debt portfolio rose 30 per cent to $62 billion in 2014, up from $47.6 billion as at September 2013. The country’s external debt stood at $9.52 billion, 15 per cent of the entire debt stock. Domestic borrowing, however, accounted for bulk of the total money owed by Africa’s largest economy. Prior to the 2005 debt relief, bad debt management practices led to the payment of $4.9 billion yearly on debt servicing.

WednESDAY, OCTOBER 25, 2016 NEW TELEGRAPH

NEWS

WednESDAY, OCTOBER 25, 2016 NEW TELEGRAPH

Dasuki didn't steal $2.2bn arms cash –Jonathan Emmanuel Onani Abuja

ormer President Goodluck Jonathan has risen in defence of his ex-National Security Adviser (NSA), Col. Sambo Dasuki (rtd), who is standing trial over alleged diversion of $2.2 billion arms cash. In what appeared his first categorical statement on the arrest and subsequent trial of Dasuki and other personalities allegedly connected to the $2.2 billion cash, Jonathan said it was "impossible" for his former NSA to have stolen the said amount, considering his administration's huge spending in the procurement of warships, fighter jets, and other military equipment and hardware, to prosecute the war against Boko Haram.

The former president broke his silence in the United Kingdom (UK) on Monday, where he delivered a lecture on "Youth Entrepreneurship", at the prestigious Oxford Union. Hear him: "They said the National Security Adviser (Dasuki) stole $2.2 billion. I don’t believe somebody can just steal $2.2 billion. "We bought warships, we bought aircraft, we bought lots of weapons for the army and so on and so forth and you are still saying $2.2 billion was stolen. So, where did we get the money to buy all those things? “Yes, there were some issues. Yes, there are still corruption issues, but some of it was overblown. I’d say exaggerated and they give a very bad impression about our na-

tion. You cannot say the national security adviser stole $2.2 billion. It is not just possible.” While recognising the fact that further comments may be subjudice, since the case was before the court, the former president said it was important to allow the judicial process run its full course. "One thing about the issue of corruption is that these matters are in court; let’s allow some of these processes to end. Lately some judges’ (homes) were also invaded. "There are so many things involved and we have to follow up these matters to conclusion before we know the fact," he said.

He said he would not want to be seen as a former president "challenging what the sitting government is doing. So, I have decided to keep quiet for the court to look into them." While acknowledging the fact that corruption has almost assumed a global dimension, Jonathan, however, said the issue of perception, matters a lot. "You will see that it has become a major topic whenever there is a change of government… I am not saying there is no corruption in Nigeria, there is corruption. If you look at corruption, there is almost no country that is free, the degree varies, the perception varies.

“Transparency International talks about the way corruption is being perceived in different economies, why do we talk about the way corruption is being perceived? It depends on the issue raised in the media every day," the former president said. The Economic and Financial Crimes Commission (EFCC) has continued its arrest of suspects allegedly linked to the $2.2 billion arms procurement scandal, with the arrest on Monday of a former Special Adviser to Jonathan on Media and Publicity, Dr. Reuben Abati. Abati's arrest came a few days after the taking into custody of a former

Minister of Aviation, Chief Femi Fani-Kayode, on what the commission said were discovery of fresh facts against the former Director of Media and Publicity of the Peoples Democratic Party (PDP) Presidential Campaign Organisation.

-47.23%

The percentage by which the Conglomerates sector of the NSE dropped for Jan – Dec 2015. Source: Nigerian Stock Exchange

525m

The number of fixed-telephone subscriptions of Asia & Pacific region in 2012. Source: Itu.int

FG backs Kenya over arrest of 26 Nigerians

he Federal Government has backed Kenyan Government on the arrest of 26 Nigerians in the country on October 22 for flouting visa laws. A statement by the acting spokesperson, Ministry of Foreign Affairs, Jane Bassey-Adams, yesterday in Abuja, alleged that the arrested persons were not in possession of valid document for their stay in Kenya. Bassey-Adams said that the Immigration Authority of Kenya acted in accordance with its domestic laws regarding the arrest of illegal immigrants. She said that the law enabled the authority to crack down on foreigners whose visas had elapsed, but remained in Kenya illegally. The spokesperson said some of them had also been indicted for criminal activities, including advance fee fraud, warning that the government would not support any Nigerian who broke the law of her host country. “The Ministry of Foreign Affairs wishes to state that the Government of Nigeria does not support, encourage or condone any form of illegal migration and condemns all acts of criminality in its entirety. “The ministry wishes to inform members of the public that the Nigeria High Commission in Nairobi has since sprang into action to ascertain the circumstances of the arrest,” she stated. The ministry, however, called on Nigerians living abroad to abide by the law of the country of their residence. It also encouraged Nige-

rian immigrants to be law abiding and desist from any action capable of tarnishing the image of the country or bring the country’s name into disrepute. “It will continue to engage countries of residence of all Nigerians abroad with a view to ensuring that they are treated with dignity and respect in accordance with international minimum standard,” she said.

Founder, Bill & Melinda Gates Foundation, Bill Gates (left) and Founder, The Tony Elumelu Foundation, Mr. Tony Elumelu, at the Le Monde Philanthropy Forum in Paris…on Monday.

NEC expresses fear over imported poisoned foods CONTINUED FROM PAGE 1

rected relevant agencies of the government, including NAFDAC and SON to move swiftly and commence scrutiny of imported foods in order to save the lives of innocent Nigerians. Recent report indicates that thousands of expired rice and other food items were being imported from neighbouring Benin Republic through the land borders into the country. Investigations also revealed that most food items imported into Nigeria have been infested and exposed to poor storage facilities, rains, weevils and other unhygienic forms of storage, thereby making these commodities toxic and unfit for human consumption. Briefing State House Correspondents at the end of NEC meeting at the presidential villa, the governor of Imo State, Rochas Okorocha, said: "We were concerned of some of the imported goods, some of the items imported into this country in the name of food and we have cautioned seriously that SON, NAFDAC and other agencies that deal with quality

of goods should do their utmost best so that rubbish is not sent into this country in the name of food." He added: "We realised that some of the frozen chicken and fish imports into this country are being preserved with very dangerous chemicals. So we are of the opinion that this area should be looked into. "One of our major challenges now is about agriculture, taking it as a pivot in which all the wheels of economic activities must rotate if we must go out of recession." Okorocha, who was joined by Adams Oshiomhole of Edo and the Adamawa State governor, Bindo Jubrila, said the need to boost food production under the expanded agriculture development programme featured prominently at their discussion. He said, Council was briefed by the Minister of Agriculture and Rural Development, Chief Audu Ogbeh on the Federal Government's action plan on food production geared towards achieving food sufficiency nationwide. The Imo State gover-

nor explained that his colleagues all agreed to partner the Federal Government in ensuring that agriculture becomes a major player in reviving and taking the country out of the current economic recession. "We have agreed at NEC that state governors hold partner with the federal government in this regard to ensure productivity and high yields in the agricultural sector. We thank God that this year, because of good rains, we shall experience bumper harvest, which will force the prices of food items to go down. "At the end of the NEC meeting today, again, agriculture took the centre stage. Minister of Agriculture, Audu Ogbeh, came and shared with us his action plans and how to improve on food production in the country.” NEC commended the Anchor Borrowers Programme of the federal government through the CBN, which he said was a success story. "Many states now have embarked on rice farming, which guarantees us sufficiency in rice production

in the next year. So, agriculture is key in our resolve to come out of recession quickly. "And again, we all resolved that agriculture should continue to take the centre stage in this country for now, so that our country will be able to feed itself. If we are not able to do this, employment for our youth would be a mere dream," he added. Okorocha, who also acknowledged the challenges in the power sector, encouraged Generation and Distribution Companies (GENCOs and DISCOs) to make efforts at overcoming them with the view to boosting energy supply to customers. The governor said Council did not receive any request or discussed possible increment in electricity tariff. Also speaking, Oshiomhole told reporters that the Federal Government would soon commence massive construction of houses across the country to bring down the cost of accommodation and reduce workers’ suffering. He said such projects were geared towards cre-

ation of additional jobs for the teaming youth. Council also considered and approved a memo from the Minister of Mines and Steel Development, Dr. Kayode Fayemi, for the appointment of professional revenue consultants to achieve this goal. The approval for the mining sector, Oshiomhole said, was in support of the Buhari administration’s effort to diversify and deepen the nation’s revenue profile. Members of council endorsed the Federal Government's plan to increase the contribution of the solid minerals sector to the nation’s treasury. NEC, during yesterday's meeting, also bided Oshiomhole, who attended the council for the last time, goodbye. The Edo State governor is expected to hand over to governor-elect, Godwin Obaseki, next month. Minister of Finance, Kemi Adeosun, reported to council at the meeting that the balance of the Excess Crude Account (ECA) for the month of October 2016 currently stands at $2.4 billion.

NEWS

WednESDAY, OCTOBER 25, 2016 NEW TELEGRAPH

Avengers blow up Chevron’s Escravos oil facility Philip Nyam and Dominic Adewole Abuja

he Niger Delta Avengers (NDA) has attacked the Escravos Export pipeline, belonging to Chevron Nigeria Limited in Delta State. The action of the militia group marked an end to highly celebrated ceasefire and avowed dialogue with the Federal Government being explored by the former Minister of Information in the First Republic, Chief Edwin Clark. The Trans-Forcados trunk is the major delivery line that was bombed in the wake of the resumed hostility in the Niger Delta by the

militants. Spokesman for the group, Brig.-Gen Mudoch Agbinibo, who claimed responsibility for yesterday attack said, "the High Command of the group is saturated with misleading statements and divisive military actions." "Today (Tuesday) at about 3:45a.m., our strike team 06 took down Chevron Escravos export pipeline at Escravos offshore. This action is to further warn all International Oil Companies (IOCs) that there should be no repairs pending negotiation/dialogue with the people of the Niger Delta. It means there should be no repairs. Any attempt to use dialogue to distract us so as to allow the free flow of our oil will

halt the dialogue process," Agbinibo said. The Movement for the Emancipation of the Niger Delta (MEND) has condemned the attack. “We condemn, in very strong terms, the unstable, destructive and immature behaviour of the Niger Delta Avengers who resume hostilities at the slightest lame excuse,” MEND said. Chevron on Tuesday kept sealed lips on the attack on its Escravos pipeline, maintaining that it would be a violation of its policy to comment on security matter. Spokesperson for the American oil major, Deji Haastrup, neither confirm nor refute claims of the attack. “We will not comment

on a security matter,” he wrote in an SMS reply to inquiry by New Telegraph. Prior to this, another militia group, the Niger Delta Greenland Justice Mandate had warned multinational oil companies against any attempt to re-open the Trans-Forcados pipeline (TFP). The group also urged President Muhammadu Buhari to disregard the dialogue template billed for October 29, for the interest of peace, describing those constituting the channel of discourse as "doubtful and conduit of corruption." The group had rejected the choice of Clark as the key negotiator in the dialogue between the militants and the Federal Government, describing him

L-R: Minister of Mines and Steel Development, Dr. Kayode Fayemi; Minister of State for Mines and Steel Development, Hon. Abubakar Bawa Bwari; chairman of the occasion, Ambassador Joseph Auyagu and Head of Consulting, PWC Nig, Mr. Ceyril Azobu, during the iPAD Nigeria Mining Week in Abuja... yesterday

as a factional leader, and maintaining that 'the Ijaws do not have monopoly of militancy.' Also, the High Command of the Avengers had written to the president, saying the group was constrained to write him on his continuous disparaging comments since the cessation and suspension was pronounced. Meanwhile, the House of Representatives, the Nigerian National Petroleum Corporation (NNPC), the Niger Delta Development Commission (NDDC), the Oil Producers Trade Section (OPTS) and traditional rulers from the Niger Delta yesterday gave their support to the proposed bill on the presidential programme on rehabilitation and reintegration for the implementation of the amnesty programme in the Niger Delta. The support was given at the public hearing organised by the House Committee on the Niger Delta in Abuja. Declaring the public hearing open, Speaker Yakubu Dogara said the bill was informed by the need to design a legal framework for the effective running of the amnesty office, adding that achieving peace in the Niger Delta was key to attaining sustainable development in the country. He said the bill was also a conscious attempt by the House to consolidate on the

President requests N181bn virement in 2016 budget CONTINUED FROM PAGE 2

vide detailed of all the loans, grants, aids including counterpart funding and loan components of all the agreements. Meanwhile, the president yesterday asked the Senate to approve a virement of the sum of N181 billion from the special intervention fund of N500 billion contained in the 2016 budget, to finance areas of revenue shortfalls in the budget. In a letter dated October 24, which he addressed to the President of the Senate, Saraki, the president explained that out of the requested virement sum, N166,630,886,954, would go into recurrent expenditure while the sum of N14,208,367,476 would go for capital supplementation. He noted that the request was necessitated by shortfalls in provisions for personnel costs; inadequate provision ab initio for some items like the amnesty programme; continuing requirements to sustain the war against insurgency, and depreciation of the naira. The president noted that in view of the fact that the

budgeted revenues were running behind target largely due to the renewed violence in the Niger Delta and there were no supplementary revenue sources, the most viable option for government was the virement of appropriated funds from heads or subheads that might not be fully utilised before the end of this fiscal year. He said that in the course of implementing the 2016 Appropriation Act, several ministries, departments and agencies (MDAs) had presented issues pertaining to salary shortfalls, the settlement of part of which had led to the depletion of the Public Service Wage Adjustment (PSWA). According to the president, this vote, which had a provision of N33,597,400,000, now has a balance of N2,758,296,000, noting that the Committee on Salary Shortfalls, set up by the Minister of Finance, had come up with a figure of N41,875,983,020 as the amount required to settle salary shortfalls of nonIPPIS MDAs. Buhari said that the security-related lines in the Service Wide Vote,

specifically Operations (internal) for the Armed Forces (N13 billion) and Operation Lafiya Dole (N8 billion) had all been totally released while the Nigerian Air Force needed about N12,708,367,476 to cover the foreign exchange differentials in the procurement of its critical capabilities. On the Niger Delta Amnesty Programme, the president said that only N20 billion (already fully released) was provided in the 2016 budget for the programme and that the allowances to ex-militants were, therefore, only being paid up to May 2016. This, he lamented, had started creating a lot of restiveness and compounding the security challenge in the Niger Delta, as the situation had provoked renewed bombing and monumental vandalism of oil installations in the region. He also stated that the provision for NYSC in the 2016 budget was inadequate to cater for the number of corps members to be mobilised this year. The president said that an additional N8.5 billion was required to cover the backlog of 129,469 corps members who are cur-

rently due for call-up, but would otherwise be left out till next year due to funding constraints. The letter reads in part: "In the course of implementing the 2016 Appropriation Act, several MDAs have presented issues pertaining to salary shortfalls, the settlement of part of which has led to the depletion of the Public Service Wage Adjustment (PSWA). "Similarly, the provision for meal subsidy for the Unity Colleges is inadequate for the number of students in the schools. Also, there was no provision for feeding of cadets at the Police Academy, Wudil, Kano. These situations are hampering the operations of the affected agencies. "The provision for Statutory Transfer to the Public Complaints Commission (PCC) was reduced to N2 billion in 2016 from N4 billion in 2015. Consequently, the agency is experiencing difficulty in paying salaries of its personnel as and when due. "Due to the devaluation of the naira, the budgetary provisions for the foreign missions are no longer sufficient to cover all their costs.

"The provision for Presidential Initiative for the North East (N12 billion) has a balance of less than N1.5 billion, and there continues to be emerging challenges with the Internally Displaced Persons (lDPs) in the zone. "From the foregoing, the total recurrent expenditure requirement is N166,630,886,954, while the capital expenditure requirement is N14,208,367,476. Most MDAS have substantially advanced work on their 2016 procurement plans, and are awaiting release of funds. The Personnel Cost and Overhead provisions leave no margin for amounts to be vired from them. "The only viable provisions from which the required amounts can be vired are those for the Special Intervention Programme which are not likely to be fully utilised this year as it took some time to work out proper operational modalities for its operation. We are committed to the implementation of the Special Intervention Programme and intend to provide fully for it in the 2017 Budget.”

different phases of the programme, which was originally meant to last for only five years. Dogara, who was represented by the deputy minority leader, Hon. Chukwuka Onyeama, assured that the House would support any effort that could bring peace in the Niger Delta. “We believe that the passage of the bill would bring an end to youth restiveness, pipeline vandalism and other crimes in the Niger Delta,” Dogara said. Making presentation at the event, the governor of Delta, Senator Ifeanyi Okowa described the amnesty programme, which was initiated by late President Umaru Yar’Adua as a ‘political master stroke’ towards resolving the crisis in the region. He regretted that the region has unfortunately returned to the ‘pre-amnesty’ era in spite of the extension of the programme to 2018 by the President Muhammadu Buhari administration. The Group Managing Director of the NNPC, Dr. Maikanti Baru, commended the provision of the bill, but suggested that “Niger Delta” and “stakeholders” be clearly defined by the bill. Baru also called for the change in the name of the amnesty programme to a commission. Nevertheless, the oil producing communities of the region disagreed with the NNPC and other oil companies on the proposed funding and structure of the amnesty programme. Representative of the oil producing communities, Prof. Jasper Jumbo, while presenting their views on the bill, insisted that the Niger Delta wants a two per cent of annual budget of oil companies for the funding of the programme, in addition to the five per cent from the ecological fund provided for by the bill. He suggested that the programme be supervised by the Office of the National Security Adviser (NSA) and called for a change of the PAP to a commission. According to him, if the amnesty programme succeeds, peace will return to the Niger Delta. But if it fails, the nation will continue to grapple with issues of insecurity in the region.

3.74m

The total number of connected mobile lines (CDMA) of Nigeria in December 2014. Source: Ncc.gov.ng

12.37%

The percentage of the club-trained players by English clubs in 2010-2011. Source: Football-observatory.com

NEWS | national

Emmanuel Onani and Onyekachi Eze Abuja

arring any change in plans, the Economic and Financial Crimes Commission (EFCC), will arraign a former Minister of Aviation, Chief Femi Fani-Kayode, in court on November 10, New Telegraph has gathered. Highly placed sources at the Commission, who spoke in confidence with New Telegraph last night, said Fani-Kayode has since been served with processes to be filed against him. What is not clear, how-

wednesday, october 26, 2016 NEW TELEGRAPH

EFCC to arraign Fani-Kayode Nov 10 ever, is whether or not he will be granted administrative bail before his arraignment. This came as former President Goodluck Jonathan's Spokesman, Dr. Reuben Abati, and a former Minister of the Federal Capital Territory (FCT), Senator Bala Mohammed, were still undergoing interrogation as at the time of filing this report. Though, one of the sources, who spoke on Fani-Kayode, did not disclose the nature of the fresh charge to be preferred against him, the

former Minister's spokesman, Mr. Jude Ndukwe had, in a statement, said; "The fresh charges for which he (Fani-Kayode) was said to have been rearrested were presented to him over the weekend and they (allegedly) border on an alleged N26m which he was accused to have collected from the erstwhile NSA, Sambo Dasuki, and he has since signed for the

95%

The sex ratio of women to 100 men of Kazakhstan in 2012. Source: Un.org

charges while he waits for his day in court." Meanwhile, the separate interrogation of Abati and Mohammed by operatives of the EFCC, continued yesterday at the Commission's headquarters. While Abati's quizzing borders on allegations that he benefited from the $2.2 billion arms cash, Mohammed is answering questions alleged contract fraud and abuse of office. Meanwhile, the Peoples Democratic Party (PDP) has warned that nothing should happen to Fani-Kayode, who is currently in the

custody of the Economic and Financial Crimes Commission (EFCC). It was reported in the media that the former Director, Media and Publicity for the 2015 PDP Presidential Campaign Organisation, fainted in the EFCC custody on Monday but was later revived. PDP, in a statement yesterday by its National Publicity Secretary, Prince Dayo Adeyeye, said Chief Fani-Kayode who was reported ill at the time of his re-arrest, was denied access to his medication. "What is not common

knowledge is that at the time of his arrest, Chief Fani-Kayode was ill and taking medication. Since his arrest, he has been denied access to his medication and medical doctors who are conversant with his medical history," the party stated. According to the statement, the re-arrest of the former minister, who was earlier granted bail about two months ago, was in furtherance of campaign of attrition against PDP members by the Federal Government in the guise of an anti-corruption war.

New technique lowers blood pressure at no cost NERC: Buhari's nominee rejects offer Biodun Oyeleye

t a time of recession when households are faced with difficult choices and challenges, the possibilities of developing high blood pressure, HBP, surely increases. Going by the findings of a new study, fully relaxing your body and mind for a few minutes a day could lower your blood pressure by about 10 points or more, at no cost and with no side effects. The new research was conducted by doctors at Benson-Henry Institute for Mind-Body Medicine,

Massachusetts General Hospital, an affiliate of Harvard Medical School. The technique developed by Dr. Herbert Benson is called “the relaxation response” and indicated that 32 per cent of those who volunteered to experiment with it were able to eliminate one blood pressure medication and still keep their blood pressure under control, compared with 14 per cent in another group that focused on lifestyle changes to help reduce blood pressure. Blood pressure is the force that a wave of blood propelled from the heart

exerts on the arteries. It is measured at two points; each measurement is recorded in millimeters of mercury (mm Hg). Systolic pressure gauges the pressure in the arteries at systole, the instant when the heart contracts and pushes a wave of blood along the arterial tree. It is the top number of a blood pressure reading. On its part, the diastolic pressure reflects the pressure during diastole, the brief period of relaxation between beats. It is the bottom number of a blood pressure reading. The report, titled “Re-

lax your way to lower blood pressure”, is contained in the latest edition of Healthbeat, a publication of the Harvard Medical School. The report reads: “The easiest way to lower blood pressure is by popping a pill. It takes just a few seconds and you are finished. But pills cost money and often have side effects. Fully relaxing your body and your mind for a few minutes a day could lower your systolic blood pressure (the top number of a blood pressure reading) by 10 points or more—at no cost, and with no side effects."

Chief Judge of the Federal Capital Territory, Justice Ishaq Bello (right) with the former Chief Justice of Nigeria, Justice Muhammed Uwais, during the opening of the 20162017 Legal Year of the FCT Judiciary, in Abuja … yesterday. PHOTO: NAN

Chukwu David Abuja

nominee of President Muhammadu Buhari, for the chairmanship position of Nigerian Electricity Regulatory Commission (NERC) Prof. Akintunde Akinwande has allegedly rejected his nomination for the plum job. This happened barely 24 hours after two other nominees of the President rejected their nominations for appointment as noncareer ambassadors. Barely 24 hours after the Senate made public the list of persons nominated by President Buhari for consideration and confirmation for appointment as non-career ambassadors, former Minister of Science and Technology, Mrs PauIine Tallen (Plateau) and Dr.Usman Bugaje (Katsina) had rejected the offer. President had a couple of weeks ago through a letter addressed to the President of the Senate, Dr Abubakar Bukola Saraki, requested the confirmation of a 7-man members and chairman of the Nigerian Electricity Regulatory Commission to be headed by Prof. Akintunde I. Akinwande (South West). Members of the Commission are Sanusi Ga-

God will bless Nigeria in our tenure –Osinbajo

NNPC: No plan to increase fuel price

Tai Anyanwu

he Vice President, Prof. Yemi Osinbajo (SAN), has assured that God would definitely bless Nigeria in the President Muhammadu Buhari-led dispensation. Osibajo gave the assurance at the just concluded Lord’s Chosen Charismatic Revival Church interdenominational crusade, held at the main bowl of the Abuja International Stadium, FCT. The Vice President expressed his delight with

the theme of the crusade entitled ‘God Has Sworn to Bless You’ while pointing out that it was inspired by God. This, according to the VP, was an indication that God assuredly would bless this country, in spite of all the nation is passing through at the moment. He said: “I am excited about the theme of the programme’ God Has Sworn to Bless You.’ Whenever God want to do something for mankind, He will first speak His intention through the mouth of His servants."

Johnchuks Onuanyim Abuja

he Nigerian National Petroleum Corporation, NNPC, yesterday dismissed as untrue, plans to increase the petroleum pump price. The dismissal came 24 hours after the Group General Manager, Crude Oil Marketing of the NNPC, Mele Kyari, stated in Lagos that the Corporation would no longer sustain the sale of petrol at N145 per litre. The Group General Manager Public Affairs Division of NNPC, Garba Deen Muhammed, who spoke in

Abuja, stated that any fuel pump increase would come from Petroleum Products Pricing Regulatory Authority, PPPRA. Kyari, who spoke in Lagos on the need to increase fuel pump price, stated that with the current price of foreign exchange, it was no longer feasible selling petrol at N145 per litre. He said:“We have a very difficult business environment.” But reacting to this, Garba Deen said, "The statement was made within the context of technical terms and not downstream operations. But the bottom-line is that

there is absolutely no plans by government to increase fuel price above the N145 per litre maximum level. "If there is going to be anything like that, the agency responsible for fixing price – the PPPRA will definitely communicate to Nigerians and give reasons why that will happen but as at this moment, there is absolutely no plan to do that and no need to do that because we have more than enough supply. "We also have long term procurement contracts with our suppliers and the usual reasons that will necessitate any review of price at the moment have been well taken care of."

ruba, Vice Chairman (North-West), Nathan R. Shatti, Commissioner (North-East), Dr Moses Arigu, Commissioner (North Central), Dafe C. Akpeneye, Commissioner (South-South). Others include Prof. Frank Okafor, Commissioner(SouthEast) and Dr Musiliu O. Oseni, Commissioner (South-West). The President of the Senate had after reading the letter on the floor of the Chamber last week, directed the Senate Committee on Power to screen the nominees and report back for consideration and approval. However, at the commencement of the screening of the nominees by Senator Ennyinnaya Abaribe-led Committee, it was discovered that the chairman- designate of the commission, Akinwande was absent from the venue. Senior Special Assistant to the President on National Assembly matters (Senate), Senator Solomon Ita Enang, who led the nominees to the screening venue, could not give sufficient reasons to justify the absence of Akinwande from the exercise. Consequently, the Committee resorted to a short closed-door meeting of the chairman and members of the committee on how to handle the seeming embarrassing development. Making public the resolution of the committee shortly after the meeting, Senator Abaribe said that the screening had been suspended sine-dine based on the absence of Akinwande, saying that the position of the chairman of the commission was key to the operations of NERC. Fielding questions from Journalists outside the venue of the exercise, Abaribe expressed misgivings with the absence of the chairman-designate, wondering whether Akinwande was not consulted for the job before being listed as the new chairman of the commission.

national | news

wednesday, october 26, 2016 NEW TELEGRAPH

Court okays coverage of FG’s $245.2m suit against oil firm

Akeem Nafiu

multinational oil company, Total E&P Nigeria Plc. has lost out in its bid to bar journalists from covering proceedings in a $245,258,640 fraud suit filed against it by the Federal Government before Justice Mojisola Olatoregun, of the Federal High Court, Lagos. This was sequel to the dismissal of an application filed by the oil company, through its lawyer, Babatunde Fagbohunlu (SAN), asking the court to stop further coverage of proceedings in the matter. The oil firm in the application, argued that media reports on the case had been biased to the extent of making it look like it had already been found guilty on the allegations leveled against it by the government. But, in a ruling yesterday, Justice Olatoregun dismissed the application,

saying that she couldn't bar journalists from performing their duty because the court was a public place. The judge, however, warned journalists covering the matter to always be factual in their reports. At yesterday’s proceedings, Justice Olatoregun also granted an application by the Federal Government to amend its pleadings in the case. Granting the application, the judge said the defendant has failed to disclose any injury it will suffer if the application is granted. “I find merit in granting this application to amend the process and the list of witnesses. This must be filed within 14 days from today. The defendants are at liberty to file consequential amendment if they choose to do so,” Justice Olatoregun held. Further hearing in the matter has been adjourned to January 16, 2017. The Federal Govern-

$61.72bn

The total equities market capitalization of the Nigerian Stock Exchange as at Q4 2014. Source: Nigerian Stock Exchange

ment had sued Total E&P Nigeria Plc, alleging that the oil company underdeclared the volume of crude oil it shipped out of the country between January 2011 and December 2014. The oil company was accused of short-changing Nigeria to the tune of $245,258,640 by allegedly shipping several barrels of crude oil out of the country without making due remittance to the government.

Court rules on Tompolo’s suit against FG, others Dec 12 Akeem Nafiu

ustice Mojisola Olatoregun of a Federal High Court, Lagos, will on December 12, rule on an application filed by a former Niger Delta militant leader, Government Ekpemupolo a. k. a. Tompolo, seeking to refer his case against the Federal Government to the Court of Appeal, for its opinion on certain ques-

MultiChoice: We’re committed to agreement with CPC on customers’satisfaction

eading video entertainment company, MultiChoice Nigeria, has announced its commitment to new consumerfocused initiatives agreed with the Consumer Protection Council (CPC). The announcement was made in a statement issued by the company yesterday. The new initiatives include availability of a Free-to-Air channel to subscribers at the expiration of subscription in accordance with the Nigerian Broadcasting Commission’s code. This requires a pay

television service provider to carry a Free-to-Air public broadcasting station in its area of coverage in public interest. In compliance with this code, MultiChoice will henceforth make available the Nigerian Television Authority International (NTAi) to subscribers as the Free-to-Air channel after the expiration of their subscription. The new initiatives also include an option for the suspension of service while subscribers are away from home.

L-R: Deputy Speaker of the House of Representatives, Rt. Hon. Lasun Yussuff; Senate President, Dr. Bukola Saraki; ViceSpeaker, German Bundestag, Claudia Roth, and another German lawmaker, during a bilateral meeting on the sidelines of the ongoing 135th InterParliamentary Union (IPU) Assembly in Geneva Switzerland… yesterday

Abuja

he Chief Judge of the Federal Capital Territory (FCT) High Court, Justice Ishaq Bello, yesterday said that the ongoing corruption war by the Federal Government should follow laid down rules and procedures. This was as the judge reiterated that the judiciary supports the nation’s antigraft war. Justice Bello, who spoke in Abuja during a special court session to mark the 2016/2017 legal year, solicited the support of relevant agencies in eradicating corruption within the judi-

tion cited by the government's lawyer was inapplicable, since it specifically excluded Section 36 of the Constitution, under which Tompolo filed the case. He further said that Tompolo was not seeking to strike down the entire ACJA, but rather two of its provisions in Sections 221 and 306, which he argued were unconstitutional. He added that the application for reference was brought under Section 295 (2) of the Constitution, which having not specified the type of proceedings that can be referred, should be of general application to all cases before the court. After taking arguments from parties, Justice Olatoregun adjourned the case to December 12 for ruling. Apart from the Federal Government, other respondents in the suit were the Attorney-General of the Federation, the Economic and Financial Crimes Commission (EFCC), the Inspector-General of Police, the Chief of Army Staff, the Chief of Naval Staff and the Chief of Air Staff. Tompolo is contending that Sections 221 and 306 of the Administration of Criminal Justice Act are invalid and unconstitutional, in so far as they seek to prevent the court from exercising its jurisdiction to entertain any objection to a criminal charge and an application for a stay of proceedings pending appeal. He was therefore asking the court to stop his further trial until the determination of these issues.

Economic woes: We've been vindicated –PDP Onyekachi Eze

FCT CJ: Corruption war AU, ECOWAS to lead in Africa’s should follow due process aviation development – ACI Tunde Oyesina

tions of law. In the application, Tompolo is seeking an interpretation and nullification of certain sections of the Administration of Criminal Justice Act (ACJA) 2015, which he said affected his constitutional rights. At yesterday’s proceedings, a lawyer representing the Federal Government, Tolu Mukoro, argued that the applicant cannot strike down the ACJA because Section 45 of the Constitution allowed the government to enact any law that is reasonably justified in a democratic society. The lawyer from the Office of the Attorney-General of the Federation, submitted further that since Tompolo has been consistently absent in the main criminal proceedings leading to the civil suit, he should not be allowed to benefit of his wrong doing to obtain any favour from the court. In his own argument, EFCC’s lawyer, I. B. Mohammed, said the commission was relying on paragraph 23 of its substantive counter-affidavit, which had aptly captured their arguments against the application for referral. He submitted further that since the suit was commenced under the fundamental rights enforcement procedure rules, it would not be referred to the Court of Appeal, as there was no provision in the said fundamental rights rules to justify such transfer. In his response, Tompolo’s lawyer, Ebun-Olu Adegboruwa, argued that Section 45 of the Constitu-

ciary arm of government. While admitting that the judiciary was indeed going through trying times, Justice Bello said: “I am bold to say that the judiciary is determined to eradicate corruption within its fold and seeks the support of relevant security agencies. However, this should be within legal limits and in line with laid down rules and procedures." He, however, expressed dissatisfaction over the low usage of Alternative Dispute Resolution (ADR) by lawyers and litigants and urged lawyers and other court users to embrace the ADR in order to enjoy the many advantages it offers and to also decongest the courts.

Wole Shadare

he newly elected President, Africa region of the Airports Council International (ACI), Saleh Dunoma, has said that the council was in collaboration with the International Air Transport Association (IATA), African Airlines Association (AFRAA) and the International Civil Aviation Organisation (ICAO) on how to improve air services on the continent. He also unfolded plans to work with governments in Africa on how to develop aviation by speaking with them

through the Africa Union (AU) and the Economic Community of West African States (ECOWAS). Dunoma, who is also the Managing Director of the Federal Airports Authority of Nigeria (FAAN) and who spoke exclusively to New Telegraph in his office in Lagos, said aviation is the engine of economic developments for it supports seven million jobs in the continent, contributes more than $70 billion to its Gross Domestic Product (GDP), and that when it is compared to that of the world, a lot is to be done in order to meet the expected standard.

ABUJA

he Peoples Democratic Party (PDP) yesterday said it has been vindicated by the statement credited to the Imo State Governor, Rochas Okorocha, that the All Progressives Congress (APC) led Federal Government was responsible for the nation's economic woes. Okorocha, who is Chairman, APC Governors' Forum, was quoted to have told newsmen at the end of a meeting between President Muhammadu Buhari and governors elected on the platform of the APC on Monday that "we must take responsibility and we must never shift the responsibility to anybody. We are responsible for everything happening in Nigeria. The good, the bad, the ugly, but we are promising Nigerians that we shall fix it."

PDP in a statement by its National Publicity Secretary yesterday, Prince Dayo Adeyeye, said Okorocha's statement has vindicated its earlier position that the Buhari administration was clueless and lack focus in providing governance to Nigerians. "This declaration, coming after several months of bulk-passing and shifting responsibilities to previous Peoples Democratic Party (PDP) administration, has shown that the APC government has no solution to all the myriad of problems they created since assuming office in May 2015. "The APC should also accept responsibility for deceiving Nigerians and the world at large that previous PDP administrations achieved nothing in the economy, infrastructure and policies in 16 years," the statement said.

wednesday, october 26, 2016 NEW TELEGRAPH

METRO

ABIODUN BELLO

...CRIME, CITY WATCH, COURTS

We promised victim will get N5m from N1m –Grandpa

Nwogu

Taiwo Jimoh and Zainab Daki

60-year-old man, who was among suspected fraudsters who conned a businesswoman of N1.99 million at Ikeja area of Lagos State, yesterday said the victim was greedy. The 60-year-old suspect, Hyacinth Nwogu, said he embraced fraud because he had once been defrauded. The police said that Nwogu, a grandfather, living at 7, Abimbola Street, College Road, IfakoIjaiye, was arrested after the victim, Helen Olajide (28), reported him and his accomplices at Area ‘G’ Police Division, Ogba. “I used to be a clearing agent until I was duped by some fraudsters at Iyana-Ipaja. Later, I was

abiodun.bello@newtelegraphonline.com 08023938212

introduced into the business by members of the fraud syndicate also at Iyana-Ipaja. We have been defrauding people for a long time,” Nwogu said. The father of five insisted that the money he and his men conned from the lady was just a million naira and had been shared among four of them. Recollecting how they duped Olajide, the suspect said that one of their members brought her to his house. He said: “David brought her to my house and we washed money in her presence. She picked interest. After washing N1,000 for her, we told her about the need to buy some chemicals. We first collected N700,000 and later N300,000, totalling N1,000,000. We told her that she would get N5,000,000 in return. “When she did not get the

money, she demanded we refund her money. She then called the police; I was arrested. She is the fourth person I have duped.” The man said that he started the business four years ago after he was duped in the same manner as Olajide. Back then, as a clearing agent, he claimed he lost over N1.2 million to fraudsters. The suspect and his members were alleged to have collected the money in instalments from the victim, under the pretence of supplying her goods. The state Police Public Relations Officer (PPRO), Dolapo Badmos, said Nwogu and his accomplices picked Olajide up at Ikeja and took her to his residence where they first collected her Automated Teller Machine (ATM) card and swindled her of N150,000. The victim, Olajide, said she

was standing at the bus stop, waiting for a cab when their car drew up beside her. She added: “They introduced themselves as my customers. They said they had a business proposition. As a businesswoman, I decided to go with them. One of them spoke French. They said they were importers and had a container loaded with computers, clothes, babies and other items in the warehouse. I picked interest and wrote down some of the items. They made me to sign an agreement to pay money that they would go to Customs quarters and clear the goods. “At the house, they collected my ATM card and went to the bank and withdrew N150,000. The next payment I made was N900,000 cash on August 26, which I gave them at Ikeja. They gave me a Fidelity Bank account number belonging to Chukwuma Eke Linda, where I paid the other money. In all, I paid N1.99 million. It was after paying that I asked myself what was happening. I have been paying money into a particular account and I have not seen the goods. I called them to come and sign an agreement with my lawyer, but they switched off their phones. That was when I knew I had been duped. I reported at the police.” Olajide said they did not tell her they wash money.

“Why would I fall for that if they had told me? Are they Central Bank of Nigeria (CBN)? What they told me was that they would supply me with goods,” she added. The PPRO said the suspect belonged to money a doubling syndicate, which used to deceive victims with fake dollars and other foreign currencies. She said: “They would ask their victims to bring money in order to buy chemical to produce additional money for such a person, after which they would disappear. “The Lagos State Commissioner of Police, Mr. Fatai Owoseni, has directed that the suspect be charged to court.” But according to Nwogu, what they use as chemical is coke and vegetable oil. He said: “It is not real chemical and I’m not the owner of the fake currencies. I took them from a friend who retired from the business. We call the fake notes treasures and it is what we use to deceive people. Everything happened within a week. The victim visited my house about four times. My share of the money was N333,000. “We did not use any drug for her. It was conviction. Our modus operandi is to show a client the money, claiming it is treasure. She gave me real money.”

City Briefs Court remands three for robbery Muhammad Bashir Lokoja

Lokoja Magistrates’ Court yesterday remanded three men in prison custody for allegedly robbing commuters of cash and valuables on highways in Kogi State. The accused are Shaba Abel (18), Silatu Gwatana (18), both farmers of Bangede in KotonKarfe Local Government Area and John Angulu (20) of Kosa village, charged with criminal conspiracy and armed robbery contrary to sections 91(1) and 298 of the Penal Code Law. The Chief Magistrate, Levi Animoku, who gave the order, described armed robbery as a

grievous social vice which had permeated the state. Animoku said that bail in the matter was not granted as a matter of course because the offence was prevalent in the country and had led to the death of many Nigerians. He said: “The degree of escape from justice is high. The presumption of innocence guaranteed under Section 36(5) of the 1999 constitution notwithstanding, I decline to admit the accused persons to bail. “Consequently, they shall be remanded at the Federal Prisons, Koton-Karfe.” Animoku then adjourned the case till November 3, for further mention.

The police prosecutor, Sergeant Tuesday Ganagana, told the court that on July 29, about 3:30am, Hassan Yakubu, a member of vigilance group in Gegu-Beki in Koton-Karfe Local Government Area of Kogi State reported the matter. Ganagana told the court that while Yakubu was on duty with his vigilance team, he received a distress call from commuters that there was an on-going robbery operation on Gegu-Kosa Road. He said that the vigilance group immediately mobilised to the scene and arrested one of the robbers, Gwatana, while his accomplices took to their heels on sighting the vigilance group.

Train kills man, injures several others Charles Onyekwere

ENUGU

middle-aged man whose name could not identified was yesterday crushed while scores of others sustained various decrees of injury at a market at Ogbete area of Enugu State. A witness told our correspondent that the train run through the market without honking or giving any sign. The train was said to be returning from Port Harcourt, the River State capital. Some people said before killing the victim, the train had almost smashed a tricycle otherwise called Keke

NAPEP operator at Zik Avenue area. “God saved Nigerians because what the man driving the train planed was to massacre people and set the whole place on fire. If not God who moved the vehicles out miraculously, we all would have been killed,” one of the drivers, who narrowly cheated death during the incident, said. When contacted, the state Police Public Relations Officer (PPRO), Ebere Amaraizu, confirmed the incident. The PPRO described it “as horrible”. He wondered why the train driver should be on high speed without honking.

METRO

wednesday, october 26, 2016 NEW TELEGRAPH

I put my ‘manhood’ in 12-year-old girl’s mouth –Teacher T

Three die inside Onitsha borehole

Okegwo Kenechukwu Onitsha

Taiwo Jimoh and Zainab Daki

teacher at Agbokunloko College, Ikotun, Lagos State, yesterday denied defiling a 12-year-old student, insisting that he only put his penis in her mouth. The 20-year-old teacher, Enilolobo Olamilekan, said: “I only put my male organ inside the mouth of the girl. I did not rape her. I just do not know what got into me. However, I’m ready to face the consequences of my action. I know I have committed a crime and I’m guilty. Whatever is my punishment; I’ll face it and hope God would have mercy on me. I have never done something like this before. I do not have a girlfriend.” The suspect was said to have taken his student away from the classroom to his house, where he stays with his parents. He allegedly placed the girl on the couch and put his manhood into her mouth and instructed her to suck him. When the victim got home, she quickly narrated her experience to her mother and all hell was let loose. Her parents stormed the school the following day and reported Olamilekan’s action

Olamilekan

to the management. The proprietor alerted the police. Fielding questions, Olamilekan, who teaches Business Studies in the school, said: “I usually teach the victim and two others after school hours at Ikotun. When the girl was brought to my place, I said they should buy a notebook for her, but her parents did not.

Last Wednesday, I gave her an assignment, but she did not do it. When she came to me on Thursday during school period, I asked of the notebook, she said her mother did not give her the money. I told her to go to JSS one class and join the other two girls; that I would soon be with them. “When I was done with my

classes, I joined them there and taught them for the day. My house is not far from the school. My mum called me to come home and do the dishes. “I told the girl to go with me, that I would buy the notebook for her at a woman’s shop near my house. She went with me; I bought the book for her and she said she was hungry. I bought biscuit for her and as I was about to go, the woman said I should bring her bottle which had been with me. I told her I would bring it later, but she refused. She said the victim should go with me to the house, so that I would give her the bottle. That was how the girl went with me to the house. “I took her inside our parlour. I put her on the chair and put my manhood in her mouth. I did not touch her private part. They have done a test and confirmed I did not touch her there. She did not cry and she did not complain. But she went home and reported to her parents.” The state Police Public Relations Officer (PPRO), Dolapo Badmos, said the suspect would be charged to court for indecent assault on a minor. She urged parents to maintain good relationship with their children so that they would be abreast of happenings in their lives.

Lagos rescues 30 kid beggars, arrests eight prostitutes

Two robbers killed in LG chairman’s house Emmanuel Masha Port Harcourt

Muritala Ayinla and Camillus Nnaji

fficials of the Lagos State Ministry of Youth and Social Development yesterday rescued about 30 kid beggars across the metropolis. This was even as the Special Committee on Clean-up of Ikoyi and Victoria Island arrested 11 persons, comprising eight prostitutes and three suspected miscreants. They were arrested in an abandoned building on Club Road, Ikoyi, said to be owned by a late military top brass. It was learnt that 27 of the kids are between the ages of two and 10 and were picked up while running after pedestrians while three of them are between eight and 18 months. They were rescued from their biological mothers, who used them to solicit for alms. Three boys were also arrested by the officials of the ministry while cleaning windscreen of vehicles on the road. In the Ikoyi operation, it was learnt that the operation, which also involved policemen from the Ikoyi Police Station, was coordinated by the Chairman of the Task Force on Environmental and Special Offences, SP Yinka Egbeyemi. Speaking with journalists while parading the suspects at his Alausa office, Egbeyemi

hree young men collapsed and died yesterday while digging a borehole at 1, Henrick Drive, Federal Housing Estate 33, Onitsha, Anambra State. It was learnt that two of the victims, identified as James and Papa, from Akwa Ibom State, working for a borehole drilling contractor (name withheld), lost their lives inside the borehole. However, the third victim, a Hausa man, was hired for N100,000 to rescue the two. He also died while trying to rescue them. A witness told journalists that, desperate to rescue his workers, the contractor hired the Hausa man. This attracted the attention of the residents who rushed to the scene. Some brave people went inside the well and recovered the three bodies. Policemen from 33 division led by the Divisional Crime of Officer, DSP Philomena Mba, vigilantes, men of the Nigerian Red Cross Society were on the ground. The bodies were evacuated to the morgue. Speaking to journalists at the scene of the incident, two men, who claimed to be borehole drilling contractors and brothers to the two of the victims, gave their names as Amos ThankGod and Bassey Etim Efiong, expressed surprise over the incident. The state Police Public Relations Officer (PPRO), ASP Nkiru Nwode, refused to pick her calls. But a dependable police source in Onitsha Area Command confirmed the incident.

The suspected prostitutes

said when questioned, all the suspects could not offer explanations on their means of livelihood. He added that all the suspects would be charged to court soon, just as he warned that the committee is resolute about its determination to rid Ikoyi and VI of abandoned buildings and miscreants. Egbeyemi said after the first visit, surveillance was placed on the building which is close to the Ikoyi Police Station and indicated that different questionable characters were still patronising the place and terrorising the residents, a development which spurred the Clean-up team to act. The suspects include Ajoke Precious (22) from Kogi State,

Akaana Agateh (26), Agbo Elizabeth (18), Augustin Mary from Benue State, Ajanjo Blessing (24), Mary Douglas (22) from Bayelsa State and Mati Dodi (28). Speaking with journalists, the suspects claimed they all engaged in menial jobs and were assisted by a soldier identified as Salau to be staying in the building since they had accommodation challenge. Although they all denied paying any rent to the said Salau, the suspects said they were only allowed to stay on a compassionate ground pending when they would be able to sort out their accommodation challenge. Douglas said she arrived in Lagos in January to stay with

her uncle who had since relocated out of Lagos. She added that the necessity to make ends meet forced her to stay back and seek alternative accommodation. According to her, she sells fairly used clothes at Obalende P& T to eke out a living. The boys arrested for washing windscreens said they all came from Ibadan in Oyo State. According to them, they make between N2,500 and N5,000 daily. “We work and sleep on the street of Lagos. We sleep in Mushin where we pay N300 every night to sleep. N200 is paid to rent a mat while we pay N100 each for the cover cloth. We also pay to take bathe and use body cream,” said Wasiu Issa.

wo armed robbers who attacked the acting Chairman, Caretaker Committee of Emuoha Akpor Local Government Area of Rivers State, Mr. John Wokoma, have been shot dead by policemen. The policemen attached to the chairman and the armed robbers engaged in a shootout, leading to the killing of two of the robbers at Mgbuichi in Rupkowu in Obio-Akpor Local Government Area and the recovery of the weapons which they used to carry out the attack. Items recovered from them include one English-made pistol; one locallymade gun, one locally-made pistol, one machete and four expended cartridges. The state Police Public Relations Officer (PPRO), Nnamdi Omoni, who confirmed the incident, said that the acting chairman was at home with his family when the gunmen stormed his residence on Monday. He disclosed that the other members of the robbery gang fled into the bush. The PPRO, however, said the police were on the trail of the fleeing robbers. He said: “The armed robbers had gone there to attack the chairman and his family but were repelled by the officers on duty who engaged them in a shootout, leading to the death of two armed robbers. “Other armed robbers who were on guard outside on sighting men of the Anti-Robbery Squad from Special Area, led by the DPO CSP Ibe Chike, opened fire on the police, they were chased but ran into the bush.

News|National

Sheriff threatens Adeyeye with contempt charge Onyekachi Eze ABUJA

actional Chairman of the Peoples Democratic Party (PDP), Senator Ali Modu Sheriff, has threatened the spokesperson of the National Caretaker Committee, Prince Dayo Adeyeye, with contempt charge for issuing a statement on behalf of the party. Adeyeye has been acting as PDP National Publicity Secretary since the constitution of the caretaker committee last May following the dissolution of the former National Working Committee (NWC) at a national convention in Port

Ajisegbede

Forex: Dangote to generate $15bn for Nigeria Adeola Yusuf

he Dangote Group said yesterday that it was currently driving six major projects which would generate foreign exchange earnings of about $15 billion annually for Nigeria. The company is investing a total of $20 billion on the six key projects, according to the President of the Group, Aliko Dangote. The business mogul, a statement issued by Dangote Group said, made these disclosures while

CONFIRMATION/change OF NAME

I, formerly known and addresses as Miss Kuti Olayemi Modinat now to be known and addressed as Mrs. Ajisegbede Olayemi Modinat. All former documents remain valid. General public take note.

Seriki

I, formerly known and addresses as Abosede Abiona Popoola now to be known and addressed as Abosede Abiona Seriki. All former documents remain valid. General public take note.

Egemuze

Formerly known, called and addressed as Miss Jonah Izibediebokime Beatrice. Now wish to be known, called and addressed as Mrs. Egemuze Izibediebokime Beatrice. All former documents remain valid. The general public should please take note.

Gambo

I, formerly known as Rabi Gambo Yaro now wish to be known and addressed as Rabi Mohammed Gambo. All former documents remain valid. General public please take note.

Ogba

This is to notify the general public that the names Miss Igwe Fidelia Chinwe and Igwe Fidelia .C. refer to one and the same person. Henceforth, I wish to be known and addressed as Mrs. Ogba Fidelia Chinwe. All former documents remain valid. EBSU, NYSC, Banks and the general public please take note.

Uzor

I, formerly known and addressed as Miss Jovita Onyinyechi Uzor now wish to be known and addressed as Mrs. Uzor Jovita Onyinyechi. All former documents remain valid. The general public should please take note.

Joel

Harcourt. But Sheriff in a statement by one Bernard Mikko, who signed as Acting National Publicity Secretary of his faction, said the reconciliation process between the two factions “appears to have relapsed.” Adeyeye, however, said he doesn’t want to dignify him with a reply. “The attention of the National Working Committee of the Peoples Democratic Party has been drawn to various comments on the state of affairs in the PDP credited to one Prince Dayo Adeyeye claiming to be speaking as the national publicity secretary,” Sheriff said in the statement.

WEDNESDAY, OCTOBER 26, 2016 NEW TELEGRAPH

I, formerly known and addressed as Uriah Dieah Jerome now wish to be known and addressed as Dieah Jerome Joel. All former documents remain valid. Skye bank Plc and the general public should please take note.

Adesanya

I, formerly known and addresses as Miss Theresa Akheme Onyonyor now to be known and addressed as Mrs. Theresa Akheme Adesanya. All former documents remain valid. General public take note.

AHMED

I, formerly known and addressed as Sani Musa now wish to be known and addressed as Ahmed Sani Musa. All former documents remain valid. The General public should take note.

Paul

Formerly known, called and addressed as Miss Onyemkalirim Ozioma Mirian. Now wish to be known, called and addressed as Mrs. Paul Ozioma Mirian. All former documents remain valid. The general public should please take note.

Ogunkoya

I, formerly known and addressed as Sodeinde Folasade Racheal now wish to be known and addressed as Ogunkoya Folasade Oluwafunmilayo Racheal. All former documents remain valid. The general public should please take note.

Ezekaka

I, formerly known and addressed as Miss Orachusi Uchenna Christiana now wish to be known and addressed as Mrs. Ezekaka Uchenna Christiana. All former documents remain valid. NYSC, Banks and the general public please take note.

Ikpehai

I, formerly known and addressed as Agbi Ikpehai now wish to be known and addressed as Agbi Augustine Ikpehai. All former documents remain valid. Unity bank Plc, First bank Plc and the general public should please take note.

CORRECTION OF NAME

My name is spelt as Ekio Tangbei and not Ekio Tangbel. All former documents remain valid. General public please take note.

PUBLIC NOTICE

GOD'S REAL TIME PROPHETIC INTERNATIONAL MINISTRY

Notice is hereby given to the general public that the above named organization has applied to the Corporate Affairs Commission Abuja for registration under part "C" of the companies and allied matter act no.1 of 1990. The Trustees are: 1. Prophet Fakunle Adewale Osuolale –General Overseer 2. Mrs. Oyediji Kehinde Olufunke –Secretary 3. Mr. Aiyegoro Marcus Olabamiji 4. Mr. Dada Emmanuel Oluwasesan AIMS AND OBJECTIVES ARE: 1. To plant Churches and engage in Christian Missionary activities. 2. To mobilize funds for the advancement of Christianity. 3. To raise men and women for Christ for the purpose of loosing those that are in bondage of sin and satan ( Isaiah 61:1; Luke 13:15-16; Mark 5:1-8). 4. To train believers in the Bible-based Christian life. 5. To co-operate and associate with other organizations having similar objectives. Any objection to the registration should be forwarded to the Registrar-General, Corporate Affairs Commission, plot 420 Tigris Crescent, off Aguiyi Ironsi Street, Maitama, Abuja within 28 days of this publication. SIGNED: TRUSTEES

Anyanwu

I, formerly known and addresses as Aluka Chidingozi Stella now to be known and addressed as Stella Chidingozi Anyanwu. All former documents remain valid. General public take note.

Afila

This is to notify that Justin Onu A. and Justin Onu Afila refer to one and same person. All former documents remain valid. Diamond Bank, First Bank and the general public should please take note.

Olaniyi

I, formerly known as Margaret Toyin Dada now wish to be known and addressed as Margaret Oluwatoyin Olaniyi. All former documents remain valid. General public take note.

Ugwu

I, formerly known and addressed as Onwe Florence Nkechi now wish to be known and addressed as Ugwu Florence Ifeoma. All former documents remain valid. The general public should please take note.

Okereke

I, formerly known and addressed as Ifeoma Okereke now wish to be known and addressed as Ifeoma Goodluck Okereke. All former documents remain valid. Union bank Plc, Fidelity bank Plc and the general public should please take note.

Ayabodie

I, formerly known and addressed as Bokizibe Ayabo now wish to be known and addressed as Ayabodie Bokizibe Dimieri. All former documents remain valid. The general public should please take note.

Kobiti

I, formerly known as miss Ogunyemi Gbemisola Elizabeth now wish to be known as Mrs. Kobiti Gbemisola Elizabeth. All former documents remain valid. General public please take note.

Ajala

This is to confirm that Ajala Adebayo Micheal and Ajala Adebayo belong to one and the same person, but now wish to be known and addressed as Ajala Adebayo Micheal. All former documents remain valid. The general public note.

Ogungbemi

I, Ogungbemi Akinwumi Akinola Ebenezer now and henceforth, wish to be known and addressed as Ogungbemi Akinwumi Akinola Ebenezer. All former document remain valid, general public should take note.

Oritsebemigho

This is to confirm that Moughobone Abemigho and Moughobone Oritsebemigho belongs to one and the same person, but now wish to be known and addressed as Moughobone Oritsebemigho. My date of birth was wrongly written as 12th November 1991 instead of 12th November 1990. All former documents remain valid. ECO Bank and the general public note.

addressing students of Executive MBA and Owner Manager Programme of the Lagos Business School in Lagos on the topic “The Role of Business in Driving Sustainable Development in Africa-The Story of The Dangote Group.” He listed the projects as Refinery and Petrochemicals, Sub-Sea Gas pipeline, Fertilizer, local Rice production, local Sugar Production and Cement capacity expansion. Dangote explained that the refinery and petrochemical project with capacity to process 650, 000 bpd and which will gulp $11 billion would ensure

fuel sufficiency for Nigeria, while the petrochemical plant will produce 1.3M mtpa polypropylene and polyethylene. Said he: “The fertilizer project at a cost of $2 billion will contribute to national food security and sufficiency for Nigeria. It will produce 2.8 Million Tons of Urea Per Year. “The EWOGGS pipeline project on which $3 billion will be sunk and located near Bonny Island to Lekki Free Trade4 zone will unlock significant gas supply for industry and supply gas to generate 12,000 MW of power. “The rice project, a

fully integrated rice production and processing operation with capacity to produce 960,000 MT of milled rice per annum, will meet 16 per cent of Nigeria’s rice needs. It has two rice mills of 240,000 MT / season, two crop seasons in a year” Dangote disclosed that the rice projects estimated to gulp $1 billion will cover 150,000 Ha across Adamawa, Edo, Jigawa, Kano, Kebbi, Kogi, Kwara, Nasarawa, Niger, Sokoto, Taraba and Zamfara states. 40 per cent of paddy would be provided by Dangote Rice Outgrower Scheme.

Why the FG is committed FIRS, CITN seek domestication of to digitization deadline nation’s tax treaties – Lai Mohammed

Philip Nyam Abuja

he Federal Inland Revenue Service (FIRS), the Chartered Institute of Taxation of Nigeria (CITN) and other stakeholders have called on the House of Representatives to accelerate the process of domestication of three tax treaties between Nigeria and the kingdoms of Sweden; Spain as well as South Korea to ensure that assent is given not later than November 2016. The call was made yesterday at a public hearing on the domestication of three Tax Treaty Bills organized by the House committee on Treaties, Protocols and Agreement. The Bill are: “a Bill for an Act to Provide for the Domestication and enforcement in Nigeria of the avoidance of double taxation agreement between the Federal Republic of Nigeria and the Kingdom of Sweden; Bill for an Act to provide for the domestication and enforcement in Nigeria of avoidance of double taxation agreement between the Federal Republic of Nigeria and the Kingdom of Spain and a Bill for an Act to provide for the domestication and enforcement in Nigeria of avoidance of double taxation agreement between the Federal Republic of Nigeria and South Korea.”

change OF NAME

Ubeku-Erezi

I, formerly known as Paul Udugho Ubeku now wish to be known as Paul Udugho Ubeku-Erezi. All former documents remain valid. General public please take note.

Nwaoha

I, formerly known as Miss Ogoke Linda Ijeoma now wish to be known as Mrs. Nwaoha Linda Ijeoma. All former documents remain valid Imsu and general public please take note.

he Minister of Information and Culture, Alhaji Lai Mohammed, has said the Federal Government’s determination to meeting the June 2017 deadline for the transition from analogue to digital broadcasting was borne out of the attendant benefits of such migration. The Minister made this known in Abuja on yesterday while declaring open the 2016 AFRICAST with the theme “Digital Terrestrial Broadcasting: Financing Quality Content” “The digitization of broadcasting offers Nigeria a lot of opportunities. The benefits are multifaceted and very far-reaching – in the areas of economics, politics, education, entertainment, science and technology and several other ways. Many have said that the impact of digitization on television will be revolutionary and I cannot agree less. With digitization, the TV industry in Nigeria will be able to raise over $1 billion in one year. Also, digitalization will increa se the number of the current 450 TV stations in Nigeria,”

he said. Mohammed explained that the Federal Government’s idea of Digital Terrestrial Television (DTT) is one in which there is free digital TV service called FreeTV - based on Freeview rather than requiring pay TV subscriptions and that the government is providing support to ensure that the FreeTV Set-Top-Boxes, also called decoders, are affordable at a retail price of N1,500. He said with the Digital Switch Over, Nollywood will have a safe and profitable distribution channel direct to 24 million TV homes through the Set-Top Boxes with no piracy risk, which will generate $250m per annum of extra income for Nollywood. The Minister said the digitization of the technology of broadcasting, which brought about a paradigm shift in the industry, requires broadcasters to be dynamic, embrace various platforms for diverse content and adapt to new tools with continuous access to content throughout their business.

How Don forged ISMN’s documents-Witness Akeem Nafiu

urther hearing in the trial of one, Prof. Joseph Mba for allegedly forging some documents in the name of the Institute of Strategic Management of Nigeria (ISMN) Limited continued yesterday before Justice Saliu Saidu of a Federal High Court in Lagos. A prosecution witness, Dr. Kenny Adenugba, narrating how the accused person perpetrated the alleged crime. The Don was on February 15 arraigned on a threecount charge of forgery and perjury by the police Special Fraud Unit before the court.

Adenugba, the Secretary and Chief Executive Officer of ISMN, informed the court that the accused person committed the alleged offence eight years after his tenure as the Institute’s Registrar and Chief Executive Officer had expired. While being led in evidence by the police prosecutor, CSP Effiong Asuquo, the witness alleged that the accused person went to the Corporate Affairs Commission (CAC), and filed documents purportedly to change the institute’s name from Institute of Strategic Management of Nigeria Limited to Institute of Strategic Management Nigeria Limited.

WEDNESDAY, OCTOBER 26, 2016 NEW TELEGRAPH

Parliament Senate to curtail excesses of security agencies

Politics It’s a season of internal crisis in political parties and the All Progressives Grand Alliance (APGA) is also not immune to it. In this report, WALE ELEGBEDE looks at the leadership crisis rocking the party

Interview Ortom: God, not Akume, is my godfather

FELIX NWANERI

GROUP PoLITICAL EDITOR nwanerif@newtelegraphonline.com

Battle for the soul of APGA

he word ‘crisis’ is not alien to political parties and upon external enquiry on the nature of the crisis, they are swift to term their differences as a family affair bickering that does not need any external influence in resolving it. Although many political parties have been in crisis prior to the 2015 general election, but the rows were managed as cold war owing to the optimism that their party may come tops in the election. Days and months after the polls, the cold war turned to full blown confrontations within the parties, not even the All Progressives Congress (APC), which became the ruling party at the center could curtail the fury of crisis within its fold. And the same goes for the former ruling party, the Peoples Democratic Party (PDP), who has turned court rooms to its new headquarters. For the All Progressives Grand Alliance (APGA), the story was no different. The party, whose strength and influence looms large in the South-East, got its fair share of leadership crisis. Rising from its monthly meeting in Abuja on Thursday October 6, the National Working Committee (NWC) of the party suspended its national chairman, Mr. Victor Oye and two other national officers - the deputy national chairman (North), Alhaji Abubakar Adamu and deputy national chairman (South), Chief Uchenna Okogbuo, over it allegedly tagged act of gross misconduct and several constitutional breaches. While affirming that its action is in tandem with the provisions of the party’s constitution, the APGA NWC swiftly went ahead to appoint its national vice chairman, (South-

Oye

East), Ozo Nwabueze Okafor as the party’s interim chairman pending when the seven-man disciplinary committee must have concluded its task of verifying the veracity of allegations leveled against the suspended officers. Cataloguing some of the ‘iniquities’ of the suspended chairman and other two national officers, the party in a statement signed by 13 members of the NWC entitled “Constitutional Provisions Breached by Victor Ike Oye”, the gross misconduct leveled against the trio include giving the party’s candidature tickets to non-APGA members without recourse to the constitutional provisions on applying for waiver through the NWC in violation of Article 24 (8) (a) (b); running the party without an approved budget against Article 12 (1) (9) and suspension of Edo State exco without approval or ratification by the NWC; not involving NWC in making electoral regulations to given nomination/selection of candidates and not involving NWC in day to day running of the party, which violates article 12 (3) of the party’s constitution; financial misappropriation, running the party like his personal empire and donating tickets to aspirants and candidates, among others." Speaking on the development, the acting chairman, Okafor, said the 16 months of Oye as APGA chairman had drew the party back, adding that retaining the suspended chairman for a little while will spell doom for APGA. He said: “We have made it very clear, the party cannot move forward with Oye as the national chairman. When you consider how

Okafor

The present desperation in APGA is about the party’s ticket for the 2017 governorship election

he is making inflammatory com ments even with the intervention of some prominent members of the party. I know he is a mole planted to distabilise the party.” Giving credence to the action of the NWC, the acting chairman said, “We don’t need to have a national convention before we suspend him. He is a national officer of the party and the constitution stipulates that any member of the party can be suspended. The disciplinary committee we set up has sent invitations to him, I don’t know if he has made himself available to the committee. Reacting to his suspension, Oye, described the NWC members who placed him and others as dissidents who were aiming to bring down APGA for their selfish interest. While noting that he still remains the party’s substantive chairman, he noted that he still sits in office as chairman. He said, “The report about my suspension or sack is rubbish; it holds no substance whatsoever. I am talking to you from my office where we just had our NWC meeting attended by all members. I am surprised that just four people could go and generate such malicious story from nowhere. It is unfortunate that some media organisations have used that story without confirmation; it is unethical not to balance a story, especially when it is not true.” In another breath, the suspended chairman chose to be persuasive to his foes when he visited a member of the party’s Board of Trustees, Rommy Ezeonwuka, in Onitsha, Anambra State, by pleading with the members to forgive and forget

his shortcomings. “There is no need for us to quarrel, we need brotherly love to make progress. I have the humility to serve and I respect everybody. “Some said I made disparaging comments, I never meant it. I was quoted out of context and these are the handiwork of mischief makers. There are other pleasant things that I said. “But in all these, I urge all to forgive and forget one another so that we can have the party of our dream in the polity.” In the meantime, political analysts appear to be looking at the crisis beyond the stated contraventions by the suspended officers, stating that the real battle is about next year’s governorship election in Anambra State. Speaking with New Telegraph, a source who is in the known of happenings within the party said, “The present desperation in APGA is about the party’s ticket for the 2017 governorship election. Some interests are in support of Governor Willie Obiano, who is the party’s BoT chairman, for a second term, while others are stoutly against his return. “The embattled Oye is a core supporter of Obiano and some of those NWC members are not. The governor tried to prevail on them before the supposed suspension but the entire plea fell on deaf ears. But I guess they gave the governor an option of choosing someone else outside Oye.” Speaking to New Telegraph on the crisis rocking the party he founded before leaving the party, Chief Chekwas Okorie, said APGA will be buried very soon. “I am a very spiritual person and very deep Christian. I returned the certificate of APGA voluntarily to INEC and asked my lawyer, Chief Mike Ahamba (SAN) to discontinue with other cases that I was done with fighting for the soul of the party and I told my associates that we are going to set up a new party. “I later issued a public statement which was published by most of the Nigerian media that the soul and the spirit of the party has left with me and that what I left for them were mere carcass and it will be a matter of time when that carcass will start decomposing and it will be buried. It was a statement I made with heavy heart and God gave my statement efficacy and that is why they have never known peace and they will never known peace until that party is eternally buried. “It will be buried very soon. In fact by next year after the Anambra governorship election, APGA would be buried. The burial is nearer; it is about a year from now.” As time ticks towards the 2017 governorship election in Anambra State, it is only left to be seen whether the party, who still have the state in its grip would still survive.

POLITICS PLATFORM

‘Autonomy’ll enhance council’s performance’

Hon. Jephtah Iyekorogha is a chieftain of the Peoples Democratic Party (PDP) in Bayelsa State. He speaks in this interview with PAULINE ONYIBE on the clamour for local government autonomy and governance at the grassroots

Why are you interested in contesting for the chairmanship seat of Ogbia Local Government Area of Bayelsa State? I see myself as a very good politician. If you want to play politics, it is good to play real politics. It is only through popularity that you can work. Many people in public office today are not serving the people because they forced their way to public office. I believe that public office holders must serve the people and satisfy those who voted him into office. I am confident that I will win the election because I know I have a track record, and I know that I can always make the difference because I am somebody who believes that whatever comes from government belongs to everybody. What should the people expect from you if you win the election? The first thing I will do if I become the chairman of Ogbia Local Government Area is to dedicate the local government to God. After that I will call the people and discuss with them and get different ideas from them because it is good to work with the peoples’ idea. Nobody should think he knows it all. I will discuss with the people, especially elders to tell them what I want and ask them what they want. Then, I will put all the ideas together and set up a think tank; wise men, who will digest all the advice and come out with what we can do to make sure we have a name. The think tank will have to come up with ideas and when they come up with ideas, I will make an input and review all the ideas and come up with something good. That is the way I think government should operate. So if I am

Iyekorogha

5 Questions

there, I will not govern alone, but with the people. Former President Goodluck Jonathan is from Ogbia Local Government Area. Do you think he contributed to the development of the area while in office? Yes, he brought development to the council. In terms of employment, he facilitated employment of our people at the federal level. The former president did not concentrate his development in all parts of the country. I know that he had his own fair share like facilitating the establishment f a university and water project in Ogbia. So, he tried though you don’t expect that he will keep everything to himself. But as a human being, you can never satisfy everybody because our needs and wants differ; human needs are not the same. To me I needed a university and I feel satisfied because I have a university now. Some other people may not need the university. What they want is food on their table. If they don’t have the food, they will complain. Nobody can satisfy human beings but I believe that the former president did his best. How will you assess the Seriake Dickson administration in Bayelsa State? I don’t want to asses him because since I am not working in his cabinet, I don’t know much about him. I believe that most of the things happening in the state are from the centre and not from the state. I don’t think the governor will decide not release money to the people if he has enough. People are crying of hunger and when we tried to enquire, he always says that it is because the centre is not releasing enough money. All the states are depending on the centre and if the centre cannot hold, then it affects all the branches. What is your take on the clamour for local government autonomy? I am in support of local government autonomy because it is the way only thing that can make the council chairmen to work. As it is now, many state governments are dipping their hands into local government allocations. But, if there is autonomy, whatever comes to the local governments, would be managed by the councils’ administrations without states depriving them of their rights. I happen to be a councilor when there was local government autonomy. We meet with the chairman then to take decisions on how to develop the council. We employed people because we had money to pay. We knew how much was coming in and we knew how to manage it. If you don’t work, people will know that the money came directly to you. But if it comes to the state, you may have N50 million and the state may decide to release N30 million; the remaining N20 million, you don’t know where it goes to.

WEDNESDAY, OCTOBER 26, 2016 NEW TELEGRAPH

Senate to curtail CHUKWU DAVID reports on the intervention of the Senate on the arrest of some judicial officers by operatives of the Department of State Services (DSS)

he recent raid of residences of judicial officers and arrest of some eminent judges by the Department of State Services (DSS) has continued to elicit reactions from various quarters. While some condemned the action, which analysts described as Gestapostyle, others commended the DSS, positing that it was a right step in the current fight against corruption in the country. Those who are opposed to the approach adopted by the nation's secrete police in arresting the eminent jurists, are of the opinion that it was a deliberate negation and relegation of the rule of law, which is the bedrock upon which democracy is anchored. However, others who support for the seeming coup plot against the judiciary derive their perception from the philosophy which asserts that 'the end justifies the means,' irrespective of whether or not the action followed due process of the law. As an arm of government, the nation's apex parliament did not keep mum on the matter, as the two chambers of the National Assembly have independently reacted to the development, weighing the implications of the event on the country’s image before the international community and making resolutions thereof. Beyond the diplomatic imperatives of the unprecedented raid on the jurists, the parliament is also concerned about its effect on Nigeria’s democracy vis-avis effective operation of the judiciary as an arm of government, with pivotal functions to guarantee peace, justice and sustenance of democracy among others. The Senate, against this backdrop, held a comprehensive debate on the issue and came up with some critical decisions to forestall reoccurrence. The most important decision reached by the Upper Chamber, was to mandate 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. However, what is not certain is whether there are some ambiguities encumbering effective implementation of the extant laws guiding the operations of these agencies; otherwise, the solution would simply be for the security operatives to be disciplined in such a way that they adhere strictly to the rule of law and operate within the confines of their mandate.

Saraki

Intervening further in the development, which really jolted some of the lawmakers, the Senate also urged President Muhammadu Buhari to call all security agencies to order, and direct the full observance of rule of law in the discharge of their statutory duties. It also condemned in strong terms the action of the DSS, stressing that the agency went outside the scope of its constitutional powers, which amounted to usurpation of the powers of the National Judicial Council (NJC). The Senate further expressed its support for the fight against corruption by the All Progressives Congress (APC)-led Federal Government but advised that it must be carried out with total respect for the rule of law and democratic principles, as is the case in all other democracies across the world. Meanwhile, in what seems self-contradiction, the Red Chamber rejected a recommendation that the Director-General of the DSS be summoned to explain to it what informed the action of the agency against the judicial officers, in total violation of its constitutional mandate. This singular action by the lawmakers immediately provoked insinuation that they were afraid of hurting the powers that be or they were guarding against being humiliated and embarrassed by the DSS boss by turning down their invitation or both. Similarly, the recommendation to condemn the action of the secret police, which was adopted, initially met serious resistance. It failed to pass when it was put to voice vote by the President of the Senate, Senator Bukola Saraki. But he used his discretion and fiat to pass it after repeating the question twice. This sent a subtle message that most of

CROSSFIRE My travail is not unconnected with the verbal report ... that Amaechi said ...they must win their Election Appeals in respect of Rivers, Akwa Ibom and Abia states at all costs -Justice John Okoro

Let Justice Inyang Okoro be objective in dealing with the issue at hand and not whip up unnecessary sentiments against innocent public officers -Rotimi Amaechi

POLITICS PLATFORM

WEDNESDAY, OCTOBER 26, 2016 NEW TELEGRAPH

excesses of security agencies

Daura

the senators played to the gallery and displayed high level hypocrisy in some of the decisions taken on the floor that day. It further betrayed the fact that most of them were more concerned about partisan interest than national interest. It was obvious that those who voted against the recommendation to condemn the action of the DSS were afraid not to hurt either the ruling party or President Muhammadu Buhari. The politicians made the resolutions sequel to the motion of urgent public importance, brought to the floor of the Senate by Senator Joshua Lidani (PDP, Gombe South), who raised questions on the legality or otherwise of the action of the DSS, praying the chamber to intervene. Leading the debate on the motion, Senator Lidani said that he was alarmed that such unconstitutional action could be adopted by the DSS in its claim to sanitise the judiciary of corruption, arguing that "you cannot use illegality to tackle corruption or other crimes in the society.” He expressed worry that the use of unconstitutional method in the ongoing fight against corruption in the judiciary might

We should be careful about the kind of image we give to the Judiciary because it will definitely affect the image of Nigeria

prove counter-productive in the long run, warning that it might demoralise the morale of patriotic and upright judges. He said: "I am alarmed that the extra-constitutional approach to sanitise the judicary in line with the war against corruption is bound to prove counter-productive because it erodes the role of the judiciary and undermines the importance of the judiciary as well as demoralise the morale of many patriotic and upright Judges who have determined to support the crusade against corruption." He further said that there is compelling need for all agencies of government including security agencies, to respect the sanctity of the doctrine of separation of powers in their execution of their mandates. According to him, 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, null and avoid. In his contribution, Senator Dino Melaye (APC, Kogi West), said that even though it was true that the judiciary is corrupt, the DSS went outside its constitutional mandate and must be called to order in the interest of democracy. "I support the fight against corruption, irrespective of who is involved either a Supreme Court judge, judge of the Court of Appeal or of the High Court or even magistrate. But, while I support the fight against corruption, it is a misnomer; it is absurd for the DSS to operate outside its mandate." Senator Chukwuka Utazi (PDP, Enugu North), who was visibly infuriated by the action of the DSS, described the application of adopted by the security operatives in the arrest of the judges as "chisel and hammer approach," and lamented that the action had done a great damage to the image of Nigeria before the international community. The Senate Minority Leader, Godswill Akpabio (PDP, AkwaIbom North-West), in his contribution, expressed support for the anti-corruption crusade, but however cautioned that it must be within the law. "The National Assembly is in support of Buhari's fight against corruption but we must do things within the provisions of the law. We should be careful about the

kind of image we give to the Judiciary because it will definitely affect the image of Nigeria abroad. I am worried about the method used by the DSS; it leaves psychological trauma on families of the affected judges," he said. Also, Deputy Leader of the Senate, Senator Bala Na'Allah, recalled that the massive support and commitment of Nigerians to the change government was because they were all unanimous in the fight against corruption, and warned that the 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 commission had been alive to its responsibilities in this regard. Also contributing, Senator Suleiman Hunkuyi (APC, Kaduna North), said the incidence had provided opportunity for the National Assembly to reconsider and specify the roles of the DSS, and also to call on all security agencies to operate and remain within their constitutional mandates. The Senate president in his remarks supported the fight against corruption but cautioned that it must conform to constitutional provisions. “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 is done within the rule of law; any act of anti-corruption that goes against the rule of law does not help the corruption fight. That is why this action, as has been seen in this manner is condemned by the Senate and all agencies of government must ensure that they act within the rule of law,” he said. As mixed reactions continue to trail the DSS' onslaught on the judiciary and its officers, what unambiguously stands clear is that Nigerians are in total support of the fight against corruption but at the same time oppose to any act capable of truncating the hardearned democracy or making mockery of the system before the global community.

POLITRICKS

Who is after Ayo Adebanjo?

yo Adebanjo Close'is one of the popular streets in Lekki area of Lagos State. The close, named after an Afenifere chieftain and Awoist, who is one of the early settlers in the highbrow area, has been in existence for over 10 years. But if the recent visit of Polygist to the area is anything to go by, the close may be renamed. Poligist during the visit gathered from a reliable source that some officials of the Iru-Victoria Island Local Council Development Area (LCDA) had placed a ‘cancelation sticker’ on the

Ayo Adebanjo Close’ sign post, asking the Afenifere chieftain to provide a document to show that the street was named after him. Irrespective of the reason giving by the council, people wonder why only the Ayo Adebanjo Close was singled out among all the streets in the area. While some people may see the issue as one beyond politics, there are those who believe that the council's action may be a deliberate plan to hit back at the Afenifere chieftain, who has critical of some powers that be in the state.

Ondo PDP: Who blinks first?

arely four weeks to the November 26 governorship election in Ondo State, members of the Peoples Democratic Party (PDP) are still at cross road over who flies the party's flag. At present, Eyitayo Jegede and Jimoh Ibrahim, who are both lawyers, are laying claims to the PDP governorship ticket base on the leadership tussle in the party. Both Jegede and Ibrahim have already commenced campaign for the election pending the final decision on

the matter. Jegede has already be recognised by the Independent National Electoral Commission (INEC), but the October 21 ruling of Justice Okon Abang of Federal High Court, Abuja, which ordered the commission to recognise Ibrahim as Ondo PDP candidate altered the political equation. With the situation on ground, both Jegede and Ibrahim are looking forward to INEC for succour as the electoral body releases the final list of Ondo governorship candidate tomorrow.

POLITICAL NOTES

The demonology of Aso Rock

so Rock, Nigeria’s seat of power is a place every citizen desires to be, at least for a visit. Built in 1991 when the capital of Nigeria moved from Lagos to Abuja, the Presidential Villa is built on the valley of the geographical feature, Aso rock, which it is named after. The expansive complex has had seven occupants as Presidents since it was inaugurated as the seat of power. In the past 25 years, the Aso Rock precinct had seen to the enthronement and dethronement of kings and queens, destinies have been built and also shattered by the decisions taken in the Aso Villa. In fact, some will argue that the present state of the country is a product of decisions within the confines of the edifice. Dr. Reuben Abati, former Special Adviser on Media and Public Affairs to ex-president Goodluck Jonathan, stirred thehornet’s nest few weeks back when he gave a surreal picture of incredible occurrences within the official residence of the president of the most populous Africa country in his widely circulated weekly column titled ‘The Spiritual Side of Aso Rock’. According to the ex-presidential spokesman, there is some form of demons occupying the Aso Villa and they are responsible for the errors and malfunctions by the occupants. “When Presidents make mistakes, they are probably victims of a force higher than what we can imagine. In our days, a lot of people used to complain that the APC people were fighting us spiritually and that there was a witchcraft dimension to the governance process in Nigeria. But the APC folks now in power are dealing with the same demons. Since Buhari government assumed office, it has been one mistake after another. Those mistakes don’t look normal, the same way they didn’t look normal under President Jonathan,” he wrote. For many Nigerians, Abati was only crying after the head has gone because throughout his four years spell in Aso Rock, he never voiced his new-found gospel of demonic influence in the State House. Although two former presidents, General Sani Abacha and Alhaji Umaru Yar’adua, and a former first lady, Mrs. Stella Obasanjo, died in the Aso Rock, the categorization of every strange and tragic occurrences as handiwork of evil machinations even when they were self-inflicted or mere coincidences, made many Nigerians to see the ex-presidential spokesman as aiming to save his perceived blushes while serving in the Villa. If Abati is to be taken serious then the spiritual cleansing of Aso Rock must go beyond preventing tragic occurrences but dovetail to loosing and binding demons that made our leaders to loot the treasury, rig elections and subvert the will of the people and engage in acts not in accordance to the oath of service they sworn to.

WALE ELEGBEDE

POLITICS \ INTERVIEW

WEDNESDAY, OCTOBER 26, 2016 NEW TELEGRAPH

Ortom: God, not Akume, Benue State governor, Dr. Samuel Ortom in this interview speaks on the process of selection and appointment of traditional rulers in the state, his emergence as governor and the amnesty programme initiated by his government to tackle insecurity in the state. CEPHAS IORHEMEN reports

The Benue State House of Assembly recently passed the Chieftaincy Bill, which you also signed into law to facilitate the appointment of traditional rulers in the state. What is your take on this law and what should the people expect with this development? I have something to take back to the people’s House and reflect on because as a democratically elected governor, I want to go with the people; know what they need and as I always say, democracy is what the people want though democracy has several meanings by several philosophers. So, when you are elected, no matter how intelligent, no matter how brilliant, no matter how experienced you are, it is important to go with the people; listen to them; try to harmonise what their views are and you will have less work to do. So, as much as possible, I want to carry my people along and that is why our working document is tagged ‘The Collective Vision for a New Benue.’ We are not just saying we have the monopoly of knowledge, but we want to work with Benue people. If there are bright ideas, if there are superior ideas and arguments, if there are creative ideas, if there are innovations that the Benue people have to contribute to help add value to the development of the state; we are willing to accommodate them and make sure that at the end, Benue State is better for everyone, so that posterity will appreciate the foundation that we are laying and the contribution we are making at this time in the history of our country. More so, the downturn in the economy makes it imperative for allowing people to make input, so that we can get the best. What would you say necessitated the amended Chieftaincy Law? I want to say that we came in

Ortom

when the law to make provision for the establishment of the Benue State Council of Chiefs and Traditional Councils in the State and other purposes connected therein was enacted and assented to into law by the former Governor, Gabriel Suswam, but there were issues. The law did not capture the collective will of the people. There were a lot of loopholes and some were tailored towards favouring some individuals and we felt that this was not correct. Moreso, that laws are meant for everybody. Laws are meant to give protection to everybody in the society, including posterity. And we took a look at it and there were a lot of lapses. One, it was hurriedly done and so many things were left out and so we took our time. Unfortunately, our Royal Highness, Tor Tiv, Dr. Alfred Akawe Torkula, in the course of this died, so there was a vacuum. But we felt that before the next appointment, there should be a reflection of what we saw and what can be done to make it better for everyone to see that the law is protecting him or her. And so we started the process, though it has taken sometime. But as our people say, when you hurry or in a hurry to pluck mushroom, it will scatter. So, it is better to take your time as once bitten, twice shy. First of all, it went through the State Executive Council, then the House of Assembly and they took time to look into it because they too decided to work with the people because we need public input and so there were public

It doesn’t matter the blackmail and the lies that people say to dent me, there is no way I will fail as a governor

hearings in all the zones and also we had input from the current traditional rulers in the state; stakeholders; those aspiring to the first class, second class, third class or whatever and of course the stool of the paramount leader of the Tiv nation. We also got input from intellectuals and the people, and finally, the bill went through the House of Assembly and was passed. I assented to it and it has become a law and we are expecting that in no distant time, we shall bring out the guidelines that will lead us to first of all appointing after selection; the kindred heads; then the district heads; next the third class chiefs and then to the second class chiefs that are vacant and thereafter, we will appoint first class chiefs round the state. We have 10 of them according to the law and they are going to be selected and appointed and thereafter the Tor Tiv would be the last to be selected and appointed. We are going to work out the guidelines. You had declared three days of fasting and praying ahead of the selection of the traditional rulers. Was there any need for that? Oh yes, there was the need. Like I did on May 30, this year, when the people of Benue State came together as I was led to dedicate the state to God, so when taking major decisions like appointment of chiefs who are leaders. We all know that as human beings, we are here, we can practice democracy and nominate people

to contest elections and all that, but if God does not permit, we will not get it right. My case is a typical example. I am someone that God brought to be governor at this time and we are witnesses to what transpired. If not for God, I wouldn’t be here as governor. I was not fit to be governor by the reasoning of certain individuals and groups but because God has the paramount authority, the supreme powers to appoint and select kings and rulers as it is captured in Psalm 62:11; He has spoken to us there that power belongs to Him. So, in alliance with the entire people of Benue State, the church, traditional institution and everybody, we came out on May 30 and dedicated the state to God knowing that as we look unto Him, we continue to thrive as God will continue to guide us. He will lead us on the path that is righteous. He will lead us to green pastures; He will lead us beside the still waters; He will provide all that we need and that is what we have been witnessing. Investors are coming, new doors are being opened; we have seen that God is working with us despite the challenge that we have; people are coming on their own and telling us that ‘please we don’t need you to give us counterpart funding, we want to bring 100 megawatts of electricity; just give us the land and we will do that.’ We have gotten a concessioner, who is willing to take over Taraku Mills and he has already taken

WEDNESDAY, OCTOBER 26, 2016 NEW TELEGRAPH

is my godfather

over. For this year alone, he told me that he has set aside N5 billion just to buy soya beans as soon as the soya bean season starts. That is one aspect, maize is another aspect. So you see that Taraku Mills is a gold mine and these are the opportunities that were hidden, that were blocked but God is opening new ways. The plastic industry will soon start work, the tomato factory in Wannune will soon start work, and several other investors who are willing to work and establish processing factories that can process our agricultural products are all coming in, doing due deligence, finding out what is needed and the processes are going on. There is an investor who came; in fact two of them, struggling to establish a cargo airport in Benue State. It’s amazing. One from Russia, another one from China and they are ready with the fund; they don’t need money from Benue State. So, these are opportunities that only God can give and we are grateful for several other things. You can see that the level of insecurity has been reduced to its barest minimum. What has your government done to safeguard the lives of the people since you became governor of Benue? I want to tell you that we have done so much in that regard. Today in Benue State, we have arrested most of the criminals, who were terrorising the people. Those who accepted the amnesty, we received them and you can see that the state generally calm but we are not resting, we are continuing on this. So, we are relying on God and we are looking on to Him and what we have done; this is a major milestone – amending the law, and the appointment of these chiefs, who are very critical stakeholders. In fact, I have always said they are the owners of the land and that was why we declared three days of fasting and prayers. The essence was to pray that God should give us the correct king and chiefs who will rule us in line with His programme because we need them, but we don’t want to be misguided. This time around, as a sitting governor, I’m not going to allow money to influence any selection of any chief or king. I am going to insist that the right thing must be done and it’s clear to me that God is honest, God is truthfulness and then if we apply truthfulness and honesty in the selection of these chiefs, it means God is there and that is our prayer. I am insisting that God, in the course of my prayer, told me not to interfere. Ordinarily, as a sitting governor, I would like to influence who is appointed the Tor Tiv or second class chief or first class chief and all that, but it was clear to me in the course of my prayer that we should allow God to select and that God will insist that what we do is true and we are honest. The process is already there; the appointments will start from the kindred heads that are vacant, then to district and third class chiefs…. We have made provision this

time for two third class chiefs per local government. Benue people want to know how soon this will be carried out to fill the vacuum created by the demise of the Tor Tiv… We are not going to waste time. Now that the prayers are over, we will set out the guidelines and as soon as that is done, we will kickstart the process, it’s not going to be long. We can set up committees that can help conduct the vacant kindred heads in one day; the local governments can do this. We can also do that of the vacant district heads in one day. We can equally do that of the third, second and first class chiefs in one day respectively, It is not going to be a difficult thing and then the Tor Tiv will be done. For instance, the selection of the Tor Tiv will require the third class chiefs to have an electoral college for the selection. The third class chiefs are involved and in the case of Tiv, 14 local governments and we have 28 of them and then you have the 14 second class chiefs plus the first class chiefs that will be selected and appointed and so altogether, we are going to be having 48 members of the selection committee that will constitute an electoral college and that is why we have to start from bottom to top. There are fears in some quarters that you would interfere in the selection and appointment process… No one will do that because I will not allow anyone to interfere with the process because we have to do the right thing. One thing I keep telling people is that I’m a politician and in those days, politicians were branded as evil and bad people; that they have no truth in their lives and if they should greet you good morning, check your watch whether it is actually morning. That was the perception of an average Nigerian, even in Benue State here. But the truth is that as a God-fearing leader, I will insist that we do the right thing. When you do the right thing, everybody is protected. Even for us in politics, when you do the right thing, everybody appreciates it. It is only when you begin to cut corners and ways of patching it here and there that you create crisis. Just like the Bible says: ‘You shall know the truth and the truth will set you free,’ that is what we need. My appeal to the people of Benue State is that let us come back to God and let us walk with God and always do the right thing. That is why I always quote Job 36:11, which says: ‘If they obey and serve God, they shall spend their days in prosperity and their years in pleasure.’ But verse 12 says: ‘If they obey not, they shall die by the sword and perish like people without a vision.’ I have said this to challenge our people: That since I knew God and started walking with Him, there is no single thing I have undertaken in this life that has been a failure; the governor that I am today is inclusive. It doesn’t matter the blackmail and the lies that people say to dent me, there is no way I will fail as a governor. By the grace of

The carrot approach has worked and today, we have adopted the stick approach. Go to the police and see the number of arms that have been recovered

Ortom

POLITICS \ INTERVIEW

God, I want to assure them as the Bible says: ‘Better is the end of a thing than the beginning.’ By the time I am rounding up, those critics, those people who are telling lies against me and against my government will appreciate that truly, God brought this man. Go back and check my records; my private sector life, my family life, my party life, my public life, my farming life, if I had failed? It has been success all through. I want to assure the people of Benue State that despite the challenges we have today in economy and insecurity, all that I need is cooperation. Listen to me, walk with me, give me support, pray for me and you shall see that we shall turn around things. Others will come here and learn what Benue State is doing like it is already happening. Would you say your amnesty programme has succeeded to some extent? The issue of the amnesty programme, which I initiated right from the day of my inauguration, is now being replicated in other parts of Nigeria and in other parts of the world. You can imagine when the United Nations (UN), Presidential Committee on Small Arms and Light Weapons (PRESCOM) and some NGOs with the German government; came here to destroy the weapons that were collected. You can imagine the number of weapons – over 700 rifles that were being used by our youths to terrorize our people. You can imagine what would have happened if these weapons were out there in the field. So, the carrot approach has worked and today, we have adopted the stick approach. Go to the police and see the number of arms that have been recovered, look at the people who were manufacturing local weapons and giving to

criminals, who we have arrested; all their equipment were ceased. Look at what the police are doing today; look at what the army is doing; look at what the Civil Defence is doing in protecting lives and property and you can see that we have been able to reduce this. I just came back from the UN and for me to have been selected as best Governor on Sustainable Development Goals; it’s not a small thing. Out of 36 states, for us to have been selected out of 36 states is not an easy thing. Look at what UBEC national executive secretary said about Benue State and I, when he came here. He said that as far as he was concerned, I remain the best governor in performance with UBEC - accessing N3.8 billion and with our counterpart funding, making it N7.6 billion. Go to our local governments, go to the primary schools and look at the work that is going on. These are issues that show that we need to come close to God and walk with Him and you will see that things will turn around. You preach fairness, but there are insinuations that your political godfather, Senator George Akume, is going to make a pronouncement on the new Tor Tiv to be appointed. How true is this? I have no political godfather. God Almighty is my godfather and I am executing his bidding. I am here to execute the counsel of God over the land of Benue and that is what I keep saying. All these things that people insinuate are not correct. Senator Akume is a fair minded man who also has the people at heart. This is someone who can spend his last kobo on his enemy. This is a man who is always with the people; he is appreciated based on what he did; he supported me; he stood with me to be governor and I appreciate him and he does not interfere with my government. If he wants something and it is possible for me to do it, I do it because the Bible says you should not do evil to one who does good to you. If you do that, evil will never depart from your house. My relationship with him is that of a leader. But at this age and as governor, I have my right. If he recommends something to me that I don’t like, I will explain to him politely that this we cannot do but the things which are doable, I will allow to be done. He is a major stakeholder; a man who worked and retired as permanent secretary, was governor for eight years, has been senator for three terms; he is a major stakeholder in Benue politics and development. So, you cannot just brush him aside and say that he is nothing. But that does not mean that I must always do his bidding. Even as a biological son, once you come of age, you have the right to do the things that your father may not like. So, that is our relationship and he has never imposed anything on me. All recommendations coming from him are very genuine and which I appreciate. But I am telling you that the issue of selecting and appointing traditional rulers is something that I am under divine instruction not to interfere or allow anybody to interfere. Let us do the right thing. And I repeat, even as governor, I am not interfering, so who will come and interfere in the matter?

WEDNESDAY, OCTOBER 26, 2016 NEW TELEGRAPH

Opinion

Should‘corrupt’judges‘step aside’for investigation? TREASURES BOLA BOLAWOLE turnpot@gmail.com 0807-552-5533 (sms only)

“What is sauce for the goose should also be sauce for the gander”

he two justices of the Supreme Court and five or more others of the High Court cited for corruption by the Department of State Security (DSS) are under intense pressure to “step aside” for investigation or trial to proceed apace. The Nigeria Bar Association (NBA), Body of Senior Advocates, civil society organisations, and other anti-corruption bodies and individuals are toeing this line of argument. The Chief Justice of Nigeria and the Nigeria Judicial Council, supported also by a coterie of bodies and individuals disagree. From reports, more judges across board are also under investigation and may be invited by the DSS before long. But for the fact that the DSS bungled its so-called “sting operation” against the judges, more judges would have, by now, been similarly stung by the agency. The outcry against the cavalierly and amateurish way the DSS handled the operation reportedly caused the Presidency to call it to order. The timing of the “sting operation” in the dead of the night was frightening; its Gestapo-style was shocking; and subsequent disclosures that it could have been vendetta carried out under the guise of anti-corruption war have infuriated the citizenry and cast both the DSS and the government it represents in bad light. Soon-to-retire Chief Justice Mahmoud Mohammed has stood firmly against the DSS operation. He may not have been firm in the way he has handled corruption allegations against members of the Bench; he may himself have been a suspect to many but he insists that there are due processes

and laid-down procedures to be followed on such issues. Many are not convinced that the procedures are good enough or will suffice. Should we, then, throw processes overboard and engage in outright self-help? The Presidency, DSS and many others impatient with due process will answer in the affirmative. But now that we have been told by the CJN that laid-down procedure does not allow for the summary suspension of judges fingered for corruption, we must patiently go the whole hog of due process. We must not forget that the procedure for punishing erring judges may have been deliberately made laborious to ensure their independence. Mindful of this, there are those who are appealing to the concerned judges’ good conscience to voluntarily step aside; but why should they on the basis of mere allegations which are yet to be proven before a court of competent jurisdiction? What if, eventually, the DSS is unable to prove its allegations? Did our law not say the accused is deemed innocent until proven otherwise by a court of competent jurisdiction? Media trial or trial by mob action\lynching wants instant judgment without passing through due process. The rights of the accused must be laboriously protected. Our justice system says it is better for many guilty persons to escape justice that for a single innocent person to be wrongfully sentenced. The import is to bend over backward to ensure there is no miscarriage of justice. Patience is of the essence here. And due process must be followed. Laid down procedures must not be whimsically tossed overboard. It may be frustrating and time-consuming but this is meant to ensure that the cause of justice is not only served but is seen by all to have been manifestly served. Besides, recent antecedents do not strengthen the case of those asking the judges to step aside for investigation or trial to take place. The Judiciary is the third arm of the government; the other arms are the Executive and Legislature. On the side of the Executive, we have had series of corruption allegations levied against highly-placed officials of this government. Ministers have been accused

We should apply rules and standards uniformly across board

of corruption; evidences have been adduced against them; yet the anti-corruption agencies have not investigated them, least of all carrying out “sting operations” and asking them to step aside. President Muhammadu Buhari, in fact, had come out to say that what had been levelled against the Ministers were mere allegations which had not been proven. So they have continued in office! In like manner, the judges should continue in office until the allegations against them are proven in open court and judicial pronouncements to that effect made. Corruption allegations have also been made against serving top military officers and Presidency officials who continue to sit pretty in office. As for the Legislature, the Senate president, Bukola Saraki, is in court on allegations of corruption; yet, he sits pretty in office as the Number Three citizen of the country. Speaker of the House of Representatives, Yakubu Dogara, fights allegations of budget padding but still sits pretty as the Number Four citizen of the country. All cries and pleas that the two step aside for investigation and trial have fallen on deaf ears. Why should the judges’ case be different? We should apply rules and standards uniformly across board. This, however, should not be misconstrued as excusing the malfeasance on the Bench. There is no denying the fact that there is corruption on the Bench – and the Bar inclusive. The Bar and politicians appear to be the “agbero” or touts who help corrupt judges collect bribes from willing clients just as motor park touts help errant policemen collect bribes at garages, bus stops and everywhere else. The days of the Socrates and philosopher judges are over; the titans like Darnley Alexander, Kayose Esho and Chukwudifu Oputa are no more. This is the age of the Lilliputians and minnows. Many people go to the Bench just because they need jobs and some because they see an avenue to get rich quick; not for love or passion for the profession. And the recruitment processes have also been bastardised, such that who you know determines what you get. The whole system needs a revolutionary overhaul; not the ongoing infantile radicalism of the DSS or the directionless grandstanding of the Buhari presidency.

Oba Ewuare's alleged coronation speech Dele Awogbeoba

ost Nigerians were either bemused or celebrated with the people of Benin on the coronation of their most recent Oba of Benin. Benin was one of Nigeria’s most iconic and prestigious empires especially from the 1400 AD. It is fitting that the new Oba chose Ewuare as his royal name as Ewuare the First was responsible for transforming Benin from a small village state to the massive empire it would be known for across much of West Africa and Europe. For some reason, a change of the guard seems to have occurred over the last two years in the leadership of many hereditary dynasties in Nigeria. From Kano, Ife, Warri and now Benin, the cycle of life burns bright for the living to experience. Many traditional rulers from all parts of Nigeria congregated to witness the coronation of the new Oba. The Oba in his coronation speech was reported, (in an article titled “Oba of Benin gets staff of office, unfolds development agenda”), to have stated: “I therefore stand before you as the 40th Oba of Benin, a direct descendant of Oranmiyan, the son of Oduduwa, whom the Benin people of that era knew as Eka-

laderan, their self-exiled prince who later became ruler in Ile-Ife. The Benin people recognise Oduduwa and his origin but it is not our place to force this recognition on others outside our boundaries. “The history of the world is a shared one and there will certainly be unexpected connections in the future. This is, thus, a time for unity and not divisiveness, a time for mutual respect, recognising that our wholeness as people is so much more than the sum of our parts.” Such a statement seems ill-advised and in extremely poor taste when viewed against the prism of the invitation to the Ooni of Ife and other Yoruba Kings and their presence at that event. I say it was ill-advised because his assertion is clearly at variance with the position of the Ooni of Ife on that matter. Secondly, it is extreme bad manners to invite a guest and then to call into question his ancestry to his very face when it would be impolite for the guest to dispute and correct such an erroneous statement at that occasion. One also needs to make clear a number of factors here. Both highly controversial accounts (the Bini and Yoruba accounts that is) come from word of mouth accounts handed down from generation to generation. Apart from the fact that Oba Ewuare’s account is disputed within Benin by the Ogiemien family (who point to the Ekiokpagha Treaty that requires every new aspiring Oba of Benin to pay a once in

a life time rent to the Ogiamien (as the true aboriginal monarch) before being able to ascend to the throne of Benin), one doubts that the Oba of Benin is in a better position than his cousins in the South West to give an account of the ancestry of their common ancestor. I say this for the following reason. Eweka the 1st had minimal contact with (a) Oduduwa (b) Oduduwa’s son Akanbi and (c) Oduduwa’s grandson (and Eweka’s father) Oranmiyan. By Benin’s own account, Oranmiyan spent less than a year as Oba in Benin and had a child with a Bini native and mother of Eweka I. Eweka’s mother was not the wife of Oranmiyan nor was she a long time concubine of Oranmiyan. Their time together was less than a year. Oranmiyan left her in Benin and she raised the young minor and new King Eweka I in Ile Ibinu (now called Benin) after Oranmiyan’s departure to his newly founded Oyo Kingdom. Thereafter, Eweka had minimal contact with Oranmiyan or his paternal line. As his view of his origin emanates from his Bini mother (who in turn had very limited knowledge of Oranmiyan or his ancestry), the history as espoused by the current Oba of Benin (the descendent of Eweka I) can be nothing other than one premised on lack of knowledge. The Oba’s of the South West have no such impediments. Oduduwa was king In Ife and his descendents in the South West

grew up with him, his children and grandchildren. They had the benefit of direct communication and constant interaction with the Oduduwa side of the family (a luxury Eweka I never had). Additionally, the Ogiamien family averred that the new narrative espoused by the Oba of Benin was a story that only started to rear its head in the 1970’s and has described it as false. The Ogiamien family has stated that the Oba of Benin has no connection whatsoever with the Ogiso family line. What is clear is that neither Oduduwa nor Oranmiyan coveted the Benin throne. Oduduwa delegated the throne to Oranmiyan. Oranmiyan, interestingly enough, abdicated Kingship thrones twice in favour of his sons. He abdicated the Benin throne in favour of an infant offspring in order to set up a new Empire at Oyo Ile. He thereafter abdicated his throne at Oyo ile in favour of an adult son in order to take up the Ife throne when it became vacant. Clearly, Oranmiyan’s home and heart were in Ife. Whatever may be the case, the issue highlights the destructive effects of the long term dangers to children and their descendents caused by the long term absence of a father from the life and upbringing of a child. The mother is left to fill in the gaps of one’s knowledge of one’s heritage. • Awogbeoba sent in this piece via Dele.Awogbeoba@gmail.com

Our VISION To build a newspaper organisation anchored on the sanctity of truth.

Sanctity of Truth

Our MISSION To publish a newspaper of superior value, upholding the fundamental ethics of journalism: balanced reporting, fairness, accuracy and objectivity.

Nigeria’s most authoritative newspaper in politics and business

ing the idea of selling off their stakes in the country. Within the past 10 years, record shows that the Nigerian National Petroleum Corporation and the oil multinationals have incurred over 200 billion Naira in product losses and repairs of products pipelines. Whereas the agitations of these militants bother on neglect of the area, environmental degradation and infrastructural backwardness, one undeniable fact is government’s efforts over time to address these issues. Critical among them are

developmental activities are replicated in the respective oilbearing states in the form of state oil producing area development commission. To address the issue of environmental degradation in the region, it is common knowledge that the Federal Government, a couple of months ago commenced implementation of the United Nations Environmental Programme (UNEP) report on the cleaning up of the region- a project expected to cost over One billion dollar. These and more underscore gov-

the granting of amnesty to militants and institutionalisation of the amnesty programme through training of former militants by the government and the monthly payment of 13 per cent derivation fund to the oil bearing states. Through the years, hundreds of billions of naira have been paid to governors of the various states in the Niger Delta for this purpose. Despite the decline of Federal Allocation in September to the tune of 500 billion Naira, huge sums of money went to the major states. Rivers received Nine billion Naira, Bayelsa 7.6 billion Naira and Delta 7.3 billion Naira. Besides that is the establishment of the Niger Delta Development Commission (NDDC) which pockets huge budgetary allocation annually for infrastructural development in these areas. Their

ernment’s sincerity of purpose to remediate issues and restore the beauty of the region which has become the nation’s source of wealth. For these reasons, we throw our weight behind the various efforts to restore peace in the region through dialogue. The fact is that conflicts, in whatever forms are designed to achieve a goal and for that reason, they are either escalated or de-escalated. Over time, they are soluble, either through bargaining, mediation or arbitration, thereby leading to peace and averting war. In the case of the region, having drawn adequate attention to the needs of the region, solution, therefore, seems in sight, but only if the various groups and factional militia in the Niger Delta are willing to bury the hatchet

Solution, therefore, seems in sight

DAILY TELEGRAPH PUBLISHING COMPANY LIMITED Managing Director/Editor-in-Chief

Funke Egbemode

Managing Editor, Business & Strategy n Yemi Ajayi

Managing Editor, Publication & Operations n Emeka Obasi

Managing Editor, South n Emeka Madunagu Managing Editor, North & Abuja n Laurence Ani (Leave of Absence) Editor n Ayodele Ojo Editor, Sunday n Juliet Bumah Editor, Saturday n Waheed Bakare Deputy Editor, Group Head, Newsroom n Geoffrey Ekenna

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

Time for peace in Niger Delta

ith greater momentum, the nation’s economy has taken a dive for the worse in recent times, consequent upon activities of various militant groups in the Niger Delta region. Oil and gas pipelines are blown off, in the process, endangering the lives of the people through more environmental degradation, and making the country's daily 2.2million barrels production quota a mirage. The oil war in the Niger Delta did not commence overnight, having started several decades back during the influx of colonial masters, who met serious resistance in prominent leaders like King Jaja of Okpobo, Nana of Koko and later Adaka Boro and in the recent past the Movement for the Emancipation of the Niger Delta. The struggle for the control of oil and business in the region has since assumed greater ferocity with the activities of several militant groups. As at the last count, militants like the Niger Delta Avengers and the Niger Delta Green Justice Mandate have vandalized tens of pipelines in all parts of the region and are still spoiling for war. Expectedly, the effects have been anything but pleasant in all sectors of the economy, as millions of people have been thrown into the labour market. As if that is not a enough, a number of multinational oil companies have downsized heavily, and even the likes Total and Chevron are allegedly nurs-

EDITORIAL

WEDNESDAY, OCTOBER 26, 2016 NEW TELEGRAPH

Bureau Chief, Abuja n Onwuka Nzeshi Bureau Chief, Brussels n Leo Cendrowicz Bureau Chief, Washington DC n Marshall Comins Editorial Coordinator, Europe n Sam Amsterdam

Business Development Manager n Taiwo Ahmed Sales/Circulation Manager n Oyebanji Abiodun Head, Arts & Creative n Ugochukwu Nnakwe Head, Admin. n Robinson Ezeh

and give peace a chance, in the interest and development of the entire nation, because the multi-dimensional approaches to addressing the multifarious issues point to light at the end of the tunnel. In so far as the dialogue option has been chosen as against military confrontation, the October 30 date should be sacrosanct, and the militants have rejected some established names for this epoch-marking event, it is proper now for all the militant groups to release the names of credible and trusted grassroots leaders and traditional rulers who shall represent them. Of great importance is the imperative to shut self-serving politicians who have polarized the militants over time for their political and pecuniary rewards from this negotiation/dialogue table. The disgusting exploitations of their folks on whose back they rode to enrich themselves from successive governments for generations of their progeny deserve global condemnation, more so when through the years, they have insidiously fueled the crises. Unlike previous peace talks which yielded no fruits, we strongly suggest that this current effort at resolving the issues be given the greatest chance. Parties should come to the table with their grievances, compromises reached and implemented in order to restore peace in the region and return the area and indeed the nation to path of prosperity.

POLITICS

WEDNESDAY, OCTOBER 26, 2016 NEW TELEGRAPH

Forum shopping, jurisdiction, lis pendens: Lessons for Nigerian adjudicatory system C O N T I N U E D F R O M Y E S T E R D AY

Silva Opusunju iii) The defendant is domiciled in one of the Contracting states of the EC/EFFA which is covered by the Regulation. For the UK, the relevant law is the Civil Jurisdiction and Judgments Act (1982) which is accomplished by a two stage test. For a corporation , the general test is one of the seat: (i) whether organization was incorporated, has its registered offices or address in the UK, or (ii) whether administrative head office is in the UK or overall command and control and management decisions are issued from the UK. The EC requirement of domicile requires the application of domestic law to the determination of the domicile of a party in the Contracting state.. The implication for the UK is that where a party is a non Contracting state, the question of jurisdiction will be governed by common law, instead of the Regulation. In addition, if within the Contracting states, domicile is not in the UK, but elsewhere, then the relevant law applicable in the UK will be the domicile law of that other state. At all times, domicile is to be determined by its locality. Perhaps it is important to highlight the point that the spirit of the Regulation require the defendant being sued in his place of domicile. This means that the Regulation can and does override national laws or the traditional common law rules of the forum such as the requirement of “presence or permissive service.” iv) The “Contracting state must be bequeathed with exclusive jurisdiction. 2.1. Exceptions to the Rules in Jurisdiction A further analysis reveals that four sets of jurisdictional reforms are recognizable and permissible by the instrument in the determination of matters of jurisdiction with the framework of Member states. They arise from the amendments of the Regulation and have now been part of the general rule of law on jurisdiction. For these to apply, there is a caveat that the defendant’s domicile must be within the Contracting states and the following jurisdiction basis: (i) Special Jurisdiction. By the provisions of Regulation, the plaintiff may chose the forumcourt for his case, and jurisdiction will be accorded to the court first seised of the matter. The special jurisdiction extends to particular cases, such as the ``…performance of the obligation in question, in matters relating to individual contracts of employment... The ECJ has following the promulgation of the regime, warned that Article 5 should be “interpreted restrictively as a derogation from the general principle of domicile in Article 2.” Consequently, in Custom Made Commercial Ltd v Stawa MetallbauGmBH, the apex court

Mohammed

held, limiting the scope of the definition, that the obligation in question which is the subjectmatter of the dispute, must be construed to mean the principal obligation within contract of the parties, and none other . (ii) Exclusive Jurisdiction The Regulation confer on certain designated courts, certain jurisdiction.. The defendant must be sued in these courts within his domicile in the Contracting state per Article 16. The full effect is illustrated in Re Hayward where the determination of validity of title for immovable property in Span by an Englishman domiciled in England, was held outside Article 16. The tenet of the Article is in line with English law which would not assume jurisdiction over an immovable property situated abroad `` even if the defendant is domiciled in the UK.” Different scenarios of complexities have surfaced since the inception of the Regulation especially in the cases of actions and rights in rem or personam and in matters of tenancy law within Contracting and non Contracting states. This is especially in the case of corporate entities where, under Article 53, they may have more than one domicile or seats. As a result, the courts have taken a narrow interpretation of the Article as seen in several cases . One such type of case is intellectual property which has itself raised further questions as to the enforcement of judgments within the Contracting states. Indeed and as have been indicated, it was litigation of intellectual property disputes that first recognised the shortcomings of the Brussels Convention in respect of the torpedo of lis pendens rule. In the case of Molnlcyde AB, English court held tenaciously to its common law principle that proceedings on the infringement of intellectual property rights should commence in the jurisdiction of the state where the infringement occurred., whereas the Dutch

Magu

It was litigation of intellectual property disputes that first recognised the shortcomings of the Brussels Convention

believe that it should commence in the state where the patent was registered. There appears to be consensus, however, that enforcement of judgments are within the exclusive jurisdiction of “the courts of the Contracting state in which the judgment has been or is to be enforced” . (iii) Jurisdiction Agreement Article 17 lays out the formalities for the requirements of a jurisdiction agreement.. Such an agreement requires the formal consent of the parties that a particular court should have jurisdiction in the event of a dispute settlement case. The conditions attached thereto are : (i) that the prorogation agreement of consent must be in writing or evidenced in writing; (ii) the agreement must be in accordance with the custom of the parties; and (iii) must be consistent with the custom of the parties in international trade or commerce. The import of Article 17 is that the court of the jurisdiction of the Contracting state chosen must accept jurisdiction to the exclusion of all other states or courts, where the parties or one of the parties has domicile in one of the Contracting states. However, where none of the parties is domiciled in a Contracting state, there cannot be jurisdiction. The matter must be remitted to the non-Contracting state, unless it wishes to decline. The interpretation hitherto had been rather too strict. Thus in Berghoefer GmBH case, a more liberal approach was adopted by the courts based on the fact that the intent of the Article 17 is to protect the weaker party in inter-state commerce and trade. The parties agreement must be such as not to also offend Articles 12 and 15. (iv) Submission to Jurisdiction The principle in this form of prorogation of judgment as contemplated by the regime, is that the defendant , by submitting himself to the court of a Contracting state wherein the plaintiff has

commenced his action, confers jurisdiction on that court. This will operate except in cases where exclusive jurisdiction had been granted in Article 16. A number of issues have arisen under this principle. Clearly the court must be seised to determine whether it has jurisdiction and the scope and merits of it. The determination of these questions must have regard to the “civil precedence rules of the court in question.” The other concern is the lack of clarity as to whether the defendant should be domiciled in a Contracting state; although the scholarly opinion appears to be supportive of this view and consistent with the wordings of Articles 3-4, 16, 17 which insist on domicile in the Contracting state. The final question pertains to the issue and significance of putting appearance, whether the appearance is personal, by counsel or otherwise. The position seems to have been settled by the ECJ in Elefanten Schuh GmBH where it affirmed that an appearance for the sake of arguing jurisdiction (whether as a preliminary or substantive argument) would not constitute submission. 3. Torpedo phenomenon and actions At the introduction part of this paper, it was noted that lis pendens was regulated by Article 27 of the Regulation. The element of the provision are clearly that lis penders will occur where proceedings involve “same cause of action and between same parties” (which may also have the same identity of interest), etc. In the Gubisch case, the court elaborated the meaning of same cause of action and same parties; as being consistent with the English definition of “object” of action. And in Drouot the question of identity of interest between parties was laid to rest as being within the ambit of the “national court to apply” to the effect that “… where there is such a degree of identity between their interests that a judgment delivered against one of them would have the force of res judicata as against the other.” In the phenomenon of torpedo, the element of time is very crucial. Just when is lis pendens operationally effective? As would be seen, Article 27 of the Convention leaves this question of procedural law to municipal systems with their differing approaches and interpretations as to when seisn occurs. But the matter does not end there. For instance, under the domestic code of Italy, the court is seised “…the day the summons is served; while in France, it is when the summons is “..registered with the courts.” The English approach is an extension of the Italian procedure. It is when process is made even without effecting service on the defendant. Thus, an “English court was seised on service of the writ.” TO BE CONTINUED TOMORROW

WEDNESday, OCTOBER 26, 2016 NEW TELEGRAPH

Life in the city Demolition: Their pains, their anger

The Mega City

Life in Mega City Lamentations of tricycle operators

...EXCLUSIVE LAGOS MAGAZINE

21 23

Civil society protest against water privatisation in March 2015. Credit: Corporate Accountability International

Water everywhere, but none is free Elizabeth Ogunbamowo

he importance of water in our daily lives cannot be underestimated. Water is most basic to the survival of any human being on the face of the earth. The truth, however, is that while some have plenty of it, others lack it. On the whole of John Street in Mushin, a high density populated area of Lagos State, not a single house has access to potable water. The only source of potable water is a borehole mounted by one Alhaji Isa on Animashaun Street, their

OLUWATOSIN OMONIYI CITY Editor

tosin.omoniyi@newtelegraphonline.com

ÂŠ Daily Telegraph Publishing Company Limited

neighbourhood street. Alhaji Isa, of course, does not give the water out free of charge. In a time of economic recession like this, Alhaji Isa turned the borehole into a source of income. The people of Animashaun and John Streets have to go there to fetch with money. Apart from the fact that it is quite costly for the people (A 25 litre gallon was worth N50), it was also stressful particularly for the people of John Street. Therefore, when Mr. Anthony on John Street constructed his own borehole and made it free for the people, the people were relieved. The Lagos State government recently had made known its interest in revitalizing the stateâ&#x20AC;&#x2122;s water sector law of 2004. The law had made provisions for curbing the activities of those who illegally exert water for sale. The law had also specified that the Lagos State Water Regulatory Commission is to ensure that people who already have boreholes get their bore holes regulated. Also, those who have none yet are charged to make sure that they get the necessary license before they go into construc-

John Street, in Mushin, not a house has access to potable water

A hawker selling gallons of water

tion. The law also specifically stated that those who make use of water for commercial and industrial use would pay a sur-

charge for the water being used. This information has however been received with mixed CONTINUED ON PAGE 20

20 LIFE/MEGA CITY

WEDNESday, OCTOBER 26, 2016 NEW TELEGRAPH

CONTINUED FROM PAGE 19

feelings by Lagos residents. While some feel that it is a new form of taxation, others feel it is a good thing that would help reduce the outbreak of certain diseases in the state. Mrs. Osuki Racheal, a Principal in a private school, commented on the issue. She said, “I feel that it is a new form of extorting money from Lagos residents. The government is just coming up with policies as they like. the other day, government officials from a particular ministry came to paste a notice on our gate and what was written there is that people would have to start paying tax for the use of television, radio in their own houses, even after paying electricity bills to PHCN. It is unfair, we pay for everything, land use charge is there, in our salaries, and they deduct taxes for what we do not even understand. The money keeps reducing and things keep getting costly every day. If the government really wants this law to be in the interest of Lagos residents, they should make a borehole somewhere and be consistently supplying people in the state at a rate, but not when we pay to dig it, and they still want us to obtain license at a fee, else they want to make the license available free of charge.” Mr. Olusegun Adebayo, a land owner in the state spoke to New Telegraph. He revealed that the concerned provisions of that law might not be favourable to Lagos residents. “Those provisions about obtaining license might not be favourable enough to Lagosians. The government should understand that everything is not about money. As for me, the quality of water I use in my house is okay; the water is what we use to bathe, drink, and cook. The good news is that nobody has fallen sick in my house as a result of drinking the water. I personally see to it that the tanks are taken care of. Every four months, and as the Landlord, I pay the person that washes it. If at all, any commission wants to be going to people’s houses to check the quality of their boreholes, they should be doing that free, because I don’t know who and who would wants to pay as much as N12,500 for a permit that I have to renew annually. That’s like an added tax. As for me, I’m not interested, we are okay here.” A sachet water factory owner, who prefers to remain anonymous, spoke with New Telegraph. He said: “Who said we are taking the water free? We buy a land to start our business with. After that, we seek for the services of those who drill boreholes. We pay them, we ensure that the water gets the right treatment because we wouldn’t want our water to be the one killing people. I personally pay my tax and that includes the tax I pay for myself as a person and for my business after all it is a sole proprietorship. Now if they want me to come and now get a permit of N65,000, where would I get

Lagos State Water Regulatory Commission (LSWRC) plant

Selling water without borders the money? Do they think we make a lot of money and don’t give anything out in return? All the workers must get paid, whether we make much profit or not. They get paid daily. We sustain the growth of our company from the profit gained also. We also do some other small, small things from the profit. So, where do we get the money? Though the attempt to start checking boreholes is good, it would help us a lot, they should please make it free for people or reduce the price for obtaining permit. They can as well just make sure they keep reminding people on Radio Lagos or any other media that they should ensure proper treatment of their boreholes. That is alright, but charging that much is outrageous.” However, New Telegraph spoke with some officials at the Lagos State Water Regulatory Commission. An official of the commission explained the processes of getting already existing boreholes regularized. He said, “First of all, people would fill an application form. We go there for inspection, take the water sample to the lab, get the result. If the result is okay, we grant the permit but if the result is not okay and the water needs treatment, we advice the owner to get it treated. If the borehole is polluted, that means it is dead, we don’t give permit and we would advice you not to use the water again. Did you hear about the outbreak of Cholera in some places? It is because of the dead borehole water they drink.” He also enlightened on the necessary processes people who want to drill boreholes newly would have to follow. “To start newly, you fill an application form. We come there. You show us where you want to drill, and we give you proper advice on where to use, the depth you need to get the right quality of water in that par-

They should make it free for people to obtain the permit

ticular place you want to use. That matters a lot because the depth varies from one place to another.” Speaking on the importance of the regularization of boreholes, he said, “The water you use might just be terrible. You might say you are not drinking it but you might be using it to wash plates, or as a Muslim, you use it for ablution, and the water was not even supposed to touch your body at all. It is also in your interest to know the quality of the water you are using in the house. The water you give to those little children. And the truth is that boreholes in the state are not supposed to exist without permit. It becomes illegally operated. The commission regularizes any boreholes.” When he was asked if people would pay for the license or not, he said, “People would be charged for the permit. There is no free license anywhere. However, the charges differ. It is a dependent factor. The lowest price for the permit is N12,500, the highest for the borehole permit is N65,000. Residential areas would fall under the category of those who would pay N12, 500, but companies might fall under those who would pay N65,000 for permit. That is if they don’t abstract water for sale, though they would also pay a lump sum charge but that amount would not be as much as those who abstract water for sale. Take note that residential places would pay only for the permit, we don’t charge residential places for using the water because it is very certain that they can’t use up to 10m3 in a day. 10m3 is equivalent to 50 big drums, even a family of 20 cannot exhaust that in a day, but if we notice that they have started using that much, then we would know that there is a foul play going on there. For those who abstract water for

sale, they should know now that the water they are digging is not free. So many of them have made millions from the business and yet they have never paid a Kobo to government’s pocket. Is that not theft?” Another official spoke on the technical aspect of the inspection. In his words, “When we take the water sample to the laboratory, we check and see if it meets Lagos State drinking water quality. There is a standard for drinking water in Lagos State. The reason why we have the standard is because Lagos is a coastal state and what is obtainable in Lagos might not be obtainable in Ogun State. Ogun State is basement. Ibadan is also basement. The quality of water you drink in Lagos is different from what is obtainable in Oyo, Taraba. There are some states we share the same coastal features with, places like Port Harcourt, Cross River or Bayelsa but the standard there might not be up to that of Lagos State. Lagos is an over populated place. And the more we are, there is the possibility of contamination. The water some people use looks pure and fit but might be the opposite. It is through lab analysis that we would discover that. So, that kind of water needs to be disinfected. Treatment facility is designed for those but not everybody can afford it. Normally, what is obtainable in advanced cities of the world is what we call ‘state municipal’ where water is supplied by state borehole but here, individuals get their septic tanks, generator and everything. We do more of house municipal here. Your house has virtually everything, which is not supposed to be. A situation where your borehole is very near the soak away or near the burial ground and there is communication between the two, the commission reserves the right to block that borehole. We also encourage people to patronise professionals who drill boreholes.”

LIFE/IN THE CITY 21

WEDNESday, OCTOBER 26, 2016 NEW TELEGRAPH

The place was peaceful but obviously not quiet. It was a market place. People were seen going about their normal businesses. Buyers were spotted haggling prices with sellers. Those who had no customers yet were seen under the sun, near their stalls, sweating profusely beckoning on people to patronise them. Elizabeth Ogunbamowo writes

Demolition: Their pains, their anger

he place was peaceful but obviously not quiet. It was a market place. People were seen going about their normal businesses. Buyers were spotted haggling prices with sellers. Those who had no customers yet were seen under the sun, near their stalls, sweating profusely beckoning on people to patronise them. Suddenly, the once peaceful but busy market became a tumultuous venue, not conducive for business anymore. The people who came to buy were seen walking away as quickly as possible. Traders had to apply all the tactics they had to make sure their wares were secured even if they lost their stalls. While some were lucky enough to save some things in their stalls, others lacked such luck. It only took a matter of minutes before the officials of Lagos State Building Control Agency (LASBCA) and Lagos state task force razed the stalls people erected with so much money. Tears flowed freely from the faces of traders. That was for the strong ones. For those who could not bear it, some were seen rolling on the floor, muttering words of discouragement and curses on the government. Others were struggling with the government officials. The market above is Power line market at Isheri-Igando road, Idimu, Lagos. The traders there were visited by government officials August 9. The experience, for most of the traders, was a saddening one. The activity of the state government in razing buildings in the state is now very disturbing. Definitely, the Power line market was not the only place affected as media report news of demolition of buildings within the state concurrently and consecutively. As at October 1, last year, it was reported in the news that part of Ladipo market in Mushin was pulled down by some state officials . That was at the time when owners of affected stalls were celebrating independence in their homes, just like every other Nigerian. When some received the heartbreaking news, they collapsed at the scene. Demolitions of buildings have also been going on in Abule Egba axis of the state for some days now. The reason behind the demolition, according to officials at the Lagos State Ministry of Physical Planning and Urban Development is the road project of the Lagos-Abeokuta way. They mentioned that the demolition was

Demolished buildings at Isheri-Igando Road, Idimu

a necessary measure to expand the Lagos-Abeokuta expressway. Already, over a thousand people have been rendered either homeless, jobless or both in that area, as houses, places of worship, banks and other businesses were affected. Among the affected banks are Guarantee Trust Bank, Zenith bank, Wema bank, Tantalizer, a bakery, and a fish processing firm. In times like these, when economic recession is the order of the day, such act of demolition to some is a death sentence. Residents and traders in the area have expressed their grievances over the demolition of structures. Oladeinde Bakare, whose house was affected said: â&#x20AC;&#x153;The state government gave us seven day-ultimatum but there was no way we could have found another apartment within that short period. We are at the mercy of hoodlums and there is no security. My apartment with three flats has been pulled down. The initial plan was to demolish structures within a 32-metre marking from the electric pole near the road, but they increased the marked area further about 92 metres which extended to my house. We wrote a letter to the

Lagos residents believe those affected should be compensated

also gone. When they asked us to leave the shop, I actually wanted to take some of the goods in the shop to my house. I thought that it would at least be safe there, until I was told that my house too would go with the demolition. There is nothing we have left now. Government should please help us. We are law-abiding Nigerians who would rather work to eat than rob other people of their hard earned money, but this kind of situation can make somebody steal or even commit suicide. We are pleading for help." A woman, whose shop was also demolished reportedly collapsed at the scene and had to be rushed to the hospital. Some others, who could not bear it, gave up the ghost. Another woman, Gbadamosi Bola, whose shelter was affected, spoke with New Telegraph amidst tears. She said, "Where do we go now? My children are four in number, and I have been the one single handedly raising them, hoping that someday, all will be well. Where do I take them to now? Who do I call upon? Would I have to start staying under the bridge too, and I never planned my life this way." Badmus Abiola, an employee of the fish processing company in that area said, "I had searched for employment opportunity for more than a year before I got this job four months ago. See what has happened now. Where am I going to get another job?" However, officials at the Lagos State Ministry of Town planning and Urban Development revealed to New Telegraph that the people were served notices with an ultimatum of seven days and that the state government has promised to compensate those whose properties fall within the right of way and who can tender authentic certificates of occupancy. Some concerned Lagos residents, on the other hand, believe that every one affected should be compensated. According to them, those who have no certificates of occupancy to tender should still be compensated, no matter how small what they get seems.

state government but our efforts were to no avail." Ajewole Wasiu, a businessman, whose shop was affected spoke with New Telegraph. He said: " Though, they gave us eviction notices with an ultimatum of seven days but we pleaded with them to reconsider because we had nowhere else to go. With the economic situation of this country and with the high level of poverty in people's homes, d, Idimu site at Isheri-Igando Roa there was no possi- The demolished market ble way we could have evacuated the buildings. I have lost all to this demolition. My shop, where my main means of livelihood dwells, has been demolished. The house where I also rented a two bedroom apartment where I live with my family is

22 LIFE/MEGA CITY

WEDNESday, OCTOBER 26, 2016 NEW TELEGRAPH

Paying prices for estate rules

The cost of rules and regulations within estates are expensive. While some rules have price tags that people can manage to pay for, others are such that residents would regret ever agreeing to. Some estate residents regret some of these rules and its consequences. ALANI OLUSEYI writes

he tension was palpable and you could cut through the atmosphere with a knife. It was a night of horror as residents who felt secured in the tightly gated Magodo estate community scampered for safety. Armed robbers had invaded the supposedly highly secured estate, and were firing shots. The question on everybody’s mind was, ‘how come’? The estate gates are usually locked by 12 midnight and nobody was allowed in or out till the next day. Terrified, the residents placed calls through the emergency number of Lagos State police, and in no time, the police officers on duty responded swiftly but sadly could not gain entrance to the estate because the gates were locked and security men had gone to their various places of abode. The police officers tried all they could to enter but all their efforts remained futile. The security men were finally contacted and before they could come and open the gates, the thieves had already achieved their purpose. People have been forcefully made to part with their hard earned money, and valuables. This is one of the consequences of the tough laws binding on the people within that estate. After the scene played out and the robbers succeeded in their operations, investigations carried out by the Nigerian police later revealed the men of the underworld sneaked into the estate in a flashy car about 6pm, beating the tight security mounted at the gates and even spending the night within the estate before striking in the dead of the night. However, the rules are not palatable to residents. As much as they want orderliness within estates, they do not like rules and regulations that would impede their freedom of existence and right to living in an estate. Aina Adegoke, a resident of close to 10 years in Magodo Estate, let loose of her displeasure on the rules. “I don't accept the rules and regulation in Estates, especially here in Magodo because even when someone needs medical attention, they might not be able to survive it. The security guards we have here are very stubborn and nasty. Even when there is an emergency case, the security guards will not allow anybody in and out of the gate after it's been locked. No matter what happens, they would not listen to you." A man’s meat they say is another’s poison. Some of the residents of these estates see the positive sides of laws governing the estates. A female resident of Omole phase 1, Lagos,

The newly completed Anthony Enahoro Housing Estate in Ogba, Lagos

who pleaded anonymity, says… "The security is very tight. Individuals close their gates between 10:30 and 11pm. While the main estate gate is usually closed by 12:00 am and opened by 6am. So, if anyone comes late- beyond 12, the security men might permit the person to enter if he has the estate sticker but if he doesn't and they can't identify him by any other thing, he might be forced to sleep outside. They are doing this because they don't want the experience we had some years back to be repeated, when armed robbers attacked us here in Omole." She mentioned that though the rules are meant to safeguard residents, there are some A housing estate in Lagos attached disadvantages. In her words, "it is quite true that the law is to protect us (the residents) from robbery and kidnapping. It is to ensure good and safe security but there's nothing in this life that is good that does not have a disadvantage. I mentioned earlier that when somebody cannot be identified, he would not be allowed to enter. That's bad to some extent. Also, if a person is being pursued by thieves, he would not be allowed to enter and the person might lose his life." She however, pointed out that If anyone comes late the prices of goods are too expenbeyond 12 midnight, sive within the Estate compared to what is obtainable outside. he might be forced Tega Ikpeba, an enforcement to sleep outside officer in Omole Phase 1, believes the rules and regulations in the estate are for security purposes. He explained some of the provisions of the laws in the estate. "We don't allow for street hawking within the estate as they may be evil. We don't allow people to gather anyhow in this estate; the reason is because it could be for occult purposes or strategy for theft. We also do that to avoid kidnapping and rituals. There was

an incident that occurred here sometimes ago. A man was murdered in his own apartment. As such, we don't want such things to happen again." He further stressed that each resident living within the estate must have proof of payment of dues, proof of ownership of structure, proof of residency, which is used in identifying them. "We have three gates, apart from the main estate gate within the estate for residents. They are Agoro gate, Ladega gate and Omofade gate which we close by 8:00pm, 7:00pm and 10pm respectively but we shut the main gate by 12 midnight and we only open the gate in case of an emergency and that is if we are able to identify you as one of the residents. Non-residents are not allowed to pass through Omofade, Agoro, and Ladega gates. The only gate they are allowed to pass through is the main gate and Obadian gate close to GT Bank. He also revealed that tricycles are not allowed to enter the estate except approved tricycle (Keke Marwa) or bikes. He explained that the approved tricycles operate within the estate

from 6am to 10 pm while the bike drivers operate from 6am to 7pm. Also, strangers are not allowed to enter the estate until there is a full detail of both the stranger and whoever he is seeking for. Amaka Itowolo, a resident of Army Housing Estate, had mentioned some of the law binding on residents. She said, "In this estate, people must switch off their generator before 12am, and likewise children are not allowed to ride their bicycles beyond 4:00pm. Also, motorcycles popularly called okada are not allowed within the estate except on special occasions." Amaka also revealed that there are certain dues residents pay in that estate. Failure to pay, according to her, attracts some sanctions. She said: "There are some dues we pay here and there are days specifically set aside for checking who and who has paid and who is owing. When they discover that someone has not paid, the person would not be allowed to move out of the estate, till he pays that due no matter how important or urgent where he is going is." she concluded.

WEDNESday, OCTOBER 26, 2016 NEW TELEGRAPH

LIFE/IN THE CITY 23

Tricycle park on Allen Avenue

Lamentations of tricycle operators Tricycle, popularly known as Keke Napep has become part of regular means of transportation in Lagos metropolis, especially as it easily navigates through the usual thick traffic. But what Lagosians seem not prepared for are their many troubles in form of recklessness and lawlessness, especially driving against traffic. YUSUF MOHAMMED reports

here used to be motorcycles (popularly called Okada) in every nook and cranny of Lagos, which enabled people to find their way out of traffic jams. Unlike before, they are not able to ply their trade in any part of Lagos due to the ban by Lagos State government. Most of the Okada riders then diverted to tricycle which is more expensive to afford and gives them less money because there is a fixed price, and a time limit. They also don’t have the luxury of stopping and picking up passengers at any bus stop. Despite the downside of the business, most of drivers of tricycles in Lagos alleged that their problems are being compounded by law enforcement agents who harass them on daily basis, oftentimes for reasons they don’t know. According to some of the drivers who chatted with New Telegraph, of all the law enforcement agencies in Lagos, they are more harassed by officials the Lagos State Traffic Management Authority (LASTMA) “Don’t stop! No carry for front. One major problem is that no bus stops in many areas of Lagos metropolis.” A tricycle driver, Saheed Abiodun, complained. Asked how they stop to pick or drop pas-

sengers, he said, “You have to look around for LASTMA, task force, or police. They have made it clear that we shouldn’t stop anywhere and we shouldn’t carry passengers in our front seat. If you did, it is termed overload. If you pass one way or the wrong road, it means you have committed a crime. We are well aware of that but for them to tell us that there is no bus stop for instance from here-Oregun to Opebi Allen is what we don’t understand. How do we pick passengers? How do we drop them in between?” He added that they do not have a park. At his park which is even illegal, it is strictly drop and move on. The victim, who identified himself simply as Bambo, told New Telegraph that he didn’t violate any law before he was arrested by the Lagos State task force. “I am a law abiding citizen. For them to arrest me, A tricycle operator on Opebi-Allen Road I don’t understand. They just came and said that I didn’t park According to Moses Olatunwell, whereas I parked well. ji, chairman of Allen Avenue Next thing I knew was that I branch, they do not have much found myself at the back of a problem but the situation of Black Maria. They wasted my the country is making them to time from morning till evening. disregard the limitations set for them by the state governToday for instance(last Friday) I haven’t been able to make any ment. “People just like to exmoney. Well, I thank God that aggerate. They have made it I didn’t spend the night there. clear that they don’t want us to park on the road. They want us There is a colleague of mine, Ogbuefi, who was arrested and to park in an orderly manner. spent one month in prison. He Here-(Allen junction) we took was arrested for driving after special permission so they can allow us pick passengers from 10pm. 10pm is our limit. We are not meant to be caught driving here. If you go to Ikeja and You have to after that time.” some other areas, you will find out that they have been chased He explained that, “The look around for away and it is affecting passenproblem is that sometimes on LASTMA, task our way home, we pick one or gers. For instance, if they say two passengers heading our diwe shouldn’t operate here anyforce, or police more, where do they want us to rection and some of these law go? Remember that bikes don’t enforcement agents see us and follow this route. You see, it is harass us. Most of them demand bribe from us before they let us pockets of problems like this off their hook. The person who that make people become frusarrested me is a woman. She trated. The more they frustrate didn’t collect any money from us, the more the people who me before she released me. But don’t have vehicles suffer.” it is in her habit to waste my He made it clear that there time so that I don’t make money are university graduates who that day. Of all the agents, we also drive Keke Napep to eke a fear LASTMA the most. They living. “This job isn’t for only don’t behave like human beilliterates. I can point to more ings. It is like they have been than five graduates here right programmed to inhuman,” he now. They are trying to make said. ends meet with this job because

no one is willing to employ them. Now that they have managed to employ themselves, why harass them? “This job isn’t easy at all. Let it be easy for us in Jesus name. We wake up very early with our hearts beating fast for fear of uncertainty. We close from work with our hearts beating fast due to stress and pressure to meet up with domestic needs. What it means is that one can die young from this job. I’m pleading with those in charge to caution their boys so that they don’t add to our problems.” Chukwudi Ukaigwe, a Lagosian argued that whatever law is enforced in regards to commercial vehicles affects the common man. According to him, the problem with the laws is that, “we ordinary Lagosians are the ones suffering. We even suffer more than the drivers. I have been standing here for close to 30 minutes because they said they shouldn’t stop to pick passengers from anywhere. Now I have to trek all the way to Aromire, Adeniyi Jones, area of Ikeja, Lagos. Not having a car in Lagos has now become more problematic with these new laws. How would they say that Keke can’t drop us where we would like to drop? They ban Okada and as if that isn’t enough, they are telling them not to stop us where we are supposed to stop.” Speaking to New Telegraph, a LASTMA official, who pleaded for anonymity was of the view that “in every institution, there are good and bad people. It is very wrong to generalise and say all security agents harass the drivers. Let us be honest with ourselves. Most of the traffic offenders are commercial drivers. They are always in haste because they want to make so much money. I am not denying that there haven’t been wrongful arrests. I’m just trying to say that most of the arrests are justified.” He said Efforts to reach the LASTMA Public Relations Officer, Mamud Hassan, proved abortive at the time of filing this report.

24 LIFE/MEGA CITY

WEDNESday, OCTOBER 26, 2016 NEW TELEGRAPH

Underage hawkers of Lagos They are regular hawkers hawking edible items like groundnuts, garden egg e.t.c. They are also familiar with the traffic, motorists and often times, they are a sight to behold. They are now more in numbers especially as recession bites harder on the economy. Young children between the ages 10 and 15 have multiplied, hawking on the streets of Lagos. MERIT MBAH reports

Underage hawkers on Agidingbi Road, Ikeja

threat. In an encounter with some of them: “Can I buy from you because I hear the Lagos State Governor said they should arrest anybody that is hawking anything in Lagos and this is Agidingbi, too close to Alausa. Please.’’ “Aunty, buy what you wan buy. if we no sell drinks and water for traffic, you know how many people for don die for go-slow. When traffic start now, even Ambode go buy water or drink for inside traffic. Aunty bring am quick quick, don’t let those LASTMA people see us buying and selling,” one of the girls said. An 11 year old girl and a junior secondary school student, hawks every day after school to support her aunty because her parents are late and her aunty is a nursing mother. So,

I cannot stop hawking because I must eat and my school fees has to be paid

the proceeds from hawking brings food to the table, according to her. “I cannot stop hawking because I must eat and my school fees has to be paid and things are really hard at home. I don’t sell only groundnut. My business changes with season, I cannot remember when I started hawking but since the age of seven when I lost my parents, those days pure water was still sold for N5, I was already into hawking business. I make a profit of N3000-N5000 every day,” she said. Olajumoke Ayoola was another young street hawker. She placed a medium seized bowl on her head. Inside the bowl were sachets of water with iced blocks to make it cold. She said that she just can’t sit back at home and wait for whatever her parents will give her knowing full well that she can con-

tributes to the house upkeep. “I am not going to sit at home doing nothing when I can hawk and make money for myself and family. What the government thinks about us is not our business because most of them buy from us. Since I finished primary school, I have not gone to secondary school and I am 13 years now. Schools are so expensive that I have no option than to hawk until I gather enough money to go back to school. My mum is dead and my dad is a vulcanizer. As the first child, I have to do this to assist my father because I have three younger ones who are in primary school. Nobody wishes to be in the street while classes are on but because all hands are not equal, I have to settle for what I can do and hopefully, the God that remembered the bread seller, Olajumoke will remember me and my family someday.”

QUOTE

OF THE WEEK

Nigeria must not fall, Nigeria must not fail. If Nigeria falls or fails, we have fallen and failed as a people”. The catholic bishop of Ekiti Diocese, Rev. Felix Ajakaye said while describing corruption as ‘the firstborn of indiscipline in Nigeria

IN NUMBERS Lagos state Traffic Management Authority LASTMA, deploys 1,200 officers to ease gridlock

OC T.

he number is higher at weekends. It is difficult to tell if the children actually go to school. This act is more prevalent on the mainland especially sub urban areas where the children can easily move around with their goods on their heads. While street hawking is bad, it poses a greater challenge for children especially girls who might be exploited or taken advantage of. There is also the danger of kidnapping them and they are vulnerable to danger As part of efforts to check street trading and all the evils associated with it, the relevant law, the Lagos State Street Trading and Illegal Market Prohibition Law, 2003 prescribes a punishment of N90, 000 or a six month jail term, for both the buyer and the seller of any goods and services on the streets. After series of conversation with Lagos street hawkers, especially children, who are supposed to be in school, New Telegraph discovered that the children hawkers took the Lagos State warning against traffic hawking as mere

WEDNESDAY, OCTOBER 26, 2016 NEW TELEGRAPH

Investor

Business WHAT'S NEW $1.5bn shipyard to create 70,000 jobs in Lagos

Ponzi scheme: Why Nigerians must be skeptical

Maritime Evaluating FG’s ban on rice import

30 31

Rates Dashboard INFLATION RATE Sept 2016 ..............................17.9% August 2016 ...........................17.6% July 2016...............................17.1%

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

EXCHANGE RATE

EXCHANGE RATE (Interbank as at October 21)

(Parallel Market October 21)

USD . . . . . . . . . . . . . . . . . . . . . N316 Pounds . . . . . . . . . . . . . . . . . . .N374 Euro . . . . . . . . . . . . . . . . . . . . . N335

USD . . . . . . . . . . . . . . . . . . . . . . N456 Pounds . . . . . . . . . . . . . . . . . . . N545 Euro . . . . . . . . . . . . . . . . . . . . . . N495

l Foreign Reserves – $23.907bn as at 20/10/2016

Source: CBN

p.26

Stanbic IBTC, 8 others execute N541bn deals p.26

L-R: Group Vice President, Inspur Group Co. Ltd, Peter Huang; Executive Chairman, Innoson Group and Vice President Yemi Osinbajo during a courtesy visit to Osinbajo in Abuja

THREAT Capital outflow from Nigeria may intensify

Tony Chukwunyem

H 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

Johnson Adebayo

Asst Production Editor

opes that the current shortage of foreign exchange in the system will ease anytime soon may be dimming following mounting speculation that the United States Federal Reserve (Fed) will hike interest rates before the end of 2016. A Fed rate hike, analysts say, will make economies such as Nigeria’s less attractive to foreign investors, thereby impacting the country’s ability to attract inflows. The Central Bank of Nigeria (CBN) had stated that the success of its forex liberalisation policy would rest on the plan of attracting significant foreign capital inflows into the interbank forex market, a development, the banking watchdog said, would boost liquidity in the market and help to stabilise the exchange rate. However, since the policy was launched on June 20, the apex bank has remained the main supplier of dollars to the market, intervening almost on a daily basis as foreign investors have generally stayed away, citing the poor state of Nigeria’s economy and what they say is CBN’s refusal to allow the naira to float freely. The situation has worsened the liquidity squeeze on the interbank market, leading to many firms clos-

Forex concerns persist as Fed rate hike looms

ing shop and sacking workers. It has also resulted in virtually all the country’s banks suspending or limiting customers’ use of naira debit and credit cards for international transactions. Foreign investors have alleged that the regulator was still manipulating activities on the interbank market and was yet to allow market forces to determine the local currency’s true value. Indeed, a fortnight ago, the Chief Executive Officer of the official foreign-exchange trading platform, FMDQ OTC Securities Exchange, Mr. Bola Onadele, was reported to have called on CBN to let the local currency float freely. FMDQ started operations in 2013 and its Chairman is the CBN’s Deputy Governor (Economic Policy), Dr. Sarah Alade. Onadele said the CBN was using “strong moral suasion” to prevent naira from depreciating to a marketrelated level, adding that the market’s dysfunction is hindering the country’s economic recovery by deterring inflows from foreign investors and hurting manufacturers dependent on imports. He said: “What’s happening now, it’s not even a managed float. I’m not sure of what we’re doing. I don’t know the objective, the strategy and success benchmarks. The dealers and bank CEOs don’t want to be reprimanded. If they quote rates freely, they may be reprimanded by the central bank.”

$1 billion Being the previous average daily turnover in the foreign exchange spot market

He was further quoted to have said: “The average daily turnover in the spot market used to be $1 billion and now it’s less than $100 million. I don’t believe the parallel market is illegal any more. We have inadvertently legitimised it through some of our actions. It may no longer be as small a market as we used to think. If you have $1,000 to convert to naira, will you sell it at 315? No rational person will do that; you’ll sell to a bureau de change and get 460. “No one believes the 305 price of the naira on their screens. That devaluation risk is still there. It would only melt away when the market establishes a credible price formation on the back of transparent trading operations by the banks. We need to have proper price discovery,” Onadele added. But the banking watchdog has so far ignored calls to allow naira to float freely and has instead resorted to a one-off special auction of twomonth dollar forwards to clear a backlog of demand from key sectors such as airlines and manufacturers. Speaking on the sidelines of the recent International Monetary Fund (IMF)/World Bank meetings in the US, the CBN Governor, Mr. Godwin Emefiele, said he had held useful discussions with some foreign investors who expressed interest in investing in Nigeria. CONTINUED ON PAGE 26

BUSINESS |NEWS

HURDLE It would be difficult to build shipyard in the country if the existing steel and aluminum firms are not functioning

Bayo Akomolafe

bout 70,000 jobs are expected to be generated when the $1.5 billion dockyard project by the Badagry Ship Repair and Maritime Engineering Company (BSMEC) in Lagos is completed, New Telegraph has learnt. Firms that floated the shipyard are SIFAX Logistics and Marine Services Limited, Energy Nature Limited, GMT Energy Services Limited, Japaul Oil and Maritime Services PLC and SIVC Infrastructure DMCC. A source at SIFAX Group said the Badagry shipyard repairs project was being established for the maintenance of a wide range of oil and gas vessels and Very Large Crude Carriers (VLCCs). It was learnt that the company would boost the economy and generate huge amount of revenue for the investors and government. The source added that it would also maintain offshore drilling rigs and offshore support vessels, in addition to large LNG carriers.

Forex concerns persist as Fed rate hike looms CONTINUED FROM PAGE 25

However, with most analysts predicting that the improving US job numbers would make the Fed to increase interest rates in December, there are concerns that Emefiele’s optimism may be misplaced. The Fed raised its rate last December from 0 per cent to 0.25 per cent with a range of 0.25 per cent to 0.5 per cent, citing increasing evidence that the US economy was recovering from the recession, which had resulted in the monetary authorities not hiking rates for nine years. Analysts point out that if the Fed hikes rates, this could fuel capital flight out of emerging markets such as Nigeria, with investors re-balancing their portfolios by holding more US investments as a hedge. In a recent report, the Financial Times of London stated that a Fed rate hike would mean a stronger dollar against most countries’ currencies, including Nigeria’s. The newspaper said: “A stronger US dollar, backed by higher US interest rates, tends to depress the values of Emerging Market (EM) currencies at a time when many EM economies are already weakening and their currencies have already slumped against the greenback. The Fed’s rate rise could exacerbate the EM currency turmoil and even help precipitate a fullblown crisis.”

WEDNESDAY, OCTOBER 26, 2016 NEW TELEGRAPH

$1.5bn shipyard to create 70,000 jobs in Lagos “Large vessels and offshore units are the main targets for repair and maintenance by BSMEC, with plans to include the entire West African market in the catchment area of the facility,” the source added. He quoted the Executive Vice Chairman of SiFAX Group, Dr. Taiwo Afolabi, as saying: “The choice of the location of the shipyard was made on a purely business interest basis, taking into account several factors considered important to investors.” Meanwhile, Samsung and

Hyundai Heavy Industries have been named technical partners of the consortium. BSMEC is also working with other globally renowned technical partners and shipyard operators, such as Damen Shipyard. “The Hyundai Shipbuilding Division, number one in the world, leads the shipbuilding industry with a 15 per cent market share and has the potential of achieving the vision for this project,” Muyiwa Akande, Group Corporate Af-

fairs Manager said. This partnership is expected to employ the promotional and technical expertise facilities to develop the shipyard. However, the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, has said that it would be difficult to build shipyard in the country if the existing steel and aluminum companies are not functioning. Peterside disclosed this to New Telegraph recently when

the newspaper’s management visited the agency. He said that just one shipyard in Nigeria can affect the country’s economy positively. The NIMASA boss noted that it would be difficult for the country’s shipyard to compete favourably with other countries if the Ajaokuta Steel Company and Aluminum Smelting Company of Nigeria were not functioning. He asked: “How can we compete when the country still imports steel and aluminum?”

L-R: Corps Marshal, Federal Road Safety Commission, Mr Boboye Oyeyemi; Minister of Transportation, Mr Chibuike Amaechi and Former Minister of Aviation, Chief Osita Chidoka, at the 1st International Transportation Conference in Abuja.

Stanbic IBTC, 8 others execute N541bn deals DOMINANCE There is need for human capital development in finance that would drive the needed local investors’ participation in the market Chris Ugwu

op ten leading dealing firms on the Nigerian Stock Exchange (NSE) ended the first nine months of the year 2016 with the execution of 91.838 billion shares worth N541.153 billion. Checks by New Telegraph showed that the top 10 stockbrokers were responsible for 58.92 per cent of the total value of deals between 04/01/2016 and 30/09/2016 (nine months). Also, the stockbrokers are responsible for 57.05 per cent of the total volume during the period under review. Further investigations revealed that Stanbic IBTC Stockbrokers Limited dominated with 13.41 per cent or N123.123 billion exchanged in 7.833 billion shares. Rencap Securities Limited followed with N100.225 billion or 10.91 per cent exchanged in 6.458 billion shares. EFCP Securities Limited accounted for N86.009 billion or 9.36 per cent invested in 4.707 billion shares. CSL Stockbrokers Limited traded N73.007 billion or 7.95 per cent re-

corded in 7.712 billion shares, while FBN Securities Limited accounted for N39.582 billion or 4.31 per cent in 4.414 billion shares. Greenwich Securities Limited traded N34.666 billion or 3.77 per cent in 33.017 billion shares, while Chapel Hill Denham Management Limited staked shares worth N24.539 billion or 2.67 per cent. Cardinal Stone Securities Limited traded N20.815 billion or 2.27 per cent, while Africa Alliance Stockbrokers Limited exchanged N19.921billion or 2.17 per cent and ARM Securities Limited trailed behind with N19.262 billion or 2.10 per cent. Market analysts have identified volume of transactions as a major challenge facing stockbroking firms in Nigeria. According to them, there are a few stockbrokers working with foreign institutions who collectively control majority of the volumes traded in the market. Against the backdrop of the current situation where foreign investors still held sway in the nation’s local bourse, some financial analysts have called on the authorities to be cautious about the inflow of foreign investment in the capital market.

They noted that foreign investors are dictating the tune in the Nigerian market because of their dominance; hence, anytime they start buying, the bulls return and when they stop buying and take their profit, the bears take over again. This they insist, is one of the reasons for the back and forth movements that is being observed in the market. A financial analyst and Managing Director, Crane Securities Limited, Mr. Mike Eze, linked the sharp decline in domestic investors’ participation at the NSE to lack of adequate knowledge of the stock market. Eze, in a chat with New Telegraph, stressed the need for human capital development in finance that would drive the needed local investors’ participation in the market, deepen it and reduce the dominance of a few brokers in the market. “We have serious knowledge gap and for the market to pick, we need to develop the skill and human capital to drive the market. Innovations are coming up in the market, but the skill to transform it is not there,” he said. He noted that foreign and institutional investors who understand the rudiments of stock market are investing heavily in the market.

The financial expert noted that there is urgent need for marketers that can explain to the local investors reasons why they should invest in the market. He said that the challenge can be addressed by developing people that actually understand the financial market, saying that for the economy to grow there is need for human capital development. Eze called on domestic investors in the nation’s capital market to leverage on the current low prices of stocks of companies quoted on the floor of the local bourse for future gains, adding that the market was ripe for investment going by the current low prices of stocks. He noted that it was obvious that activities will stabilise in the market in no distance time, adding that this was the perfect opportunity for investors to stake their funds in the market. Eze insisted: “This is the right time for investors to take part in the equities market, with the prices of shares at their lowest levels, brokers are confident that with the issue of recession being addressed, the market would begin to stabilise and investors would begin to record significant appreciation on their investments.

WEDNESDAY, october 26, 2016 NEW TELEGRAPH

The war to rid Nigeria of sub-standard products may never be won by the Standards Organisation of Nigeria (SON) without the collaboration of the Central Bank of Nigeria (CBN), Customs and related agencies. ABDULWAHAB ISA reports

fct business watch

Saving Nigeria from influx of sub-standard goods

recent data by the National Bureau of Statistics (NBS) on Nigeria’s merchandise first quarter of 2016, put the volume of import at N1.45 trillion compared with N1.73 trillion in Q1 2015. The bulk of items that constitute the imports were boilers, machinery mineral products, vehicles, aircraft parts; base metals and textiles and other items. Customs CG, Hameed Ali Of course, major sources of Nigeria’s imports were China, India, Netherlands, United States, and nursed by genuine investors reUnited Kingdom. While countries mains how best to recoup their such as US, and UK are reputed investments and remain in busifor producing quality standards ness amid challenges of infraitems, China and others have ac- structure and the untrammeled quired the reputation of making influx of fake goods, counterfeitNigeria a dump for sub standards ing and piracy in the country.” goods, putting the economy and health sectors under serious Challenges of taming fake products threat. Beyond losses suffer by Nigeria’s economy due to the unreSub-standard items stricted influx of fake imported Nigeria’s huge market is a items; consumption of such subcomfort zone for varieties of sub- standard products has in many standard items from China and instances complicated the health other Asian countries. Former status of most Nigerians. Director - General of Standard OrThe Standard Organisation ganisation of Nigeria (SON), John of Nigeria (SON), the body regAkanya, in a recent submission, ulating products standard in observed with nostalgia, the high the country, recently raised the volume of counterfeit and sub- alarm over the proliferation of standard products in the domes- adulterated and sub- substandard tic market and their attendant products in the country. The threat to Nigeria’s economy. agency voiced out its frustration He feared that the current ef- in getting China to sign an Memofort by the Federal Government randum of Understanding (MoU) to resuscitate real sector for on prohibition of trafficking fake meaningful contribution to the products from China to Nigeria. Gross Domestic Product (GDP) Speaking recently, while handcould be jeopardised if the trend ing over to newly appointed SON persists. DG, Barrister Osita Aboloma, In Nigeria, it is estimated that the former Acting DG Dr. Paul over 55 per cent of imported prod- Anyga, narrated how the Chiucts are fake and substandard. nese authority was reluctant to An estimated N15 billion is be- endorse the MoU. lieved to be lost annually to fake He noted: “One of the issues or counterfeit goods in terms of is the prevalent of sub standard loss of tax revenue to the govern- products in Nigeria. There have ment, income to local manufac- been complaints from ministers, turers, and employment genera- from the President about sub tion to Nigerians. standard products. Part of what The former SON DG said, “It is we were trying to do, is to get the a tragedy to report that in Nige- Chinese government to sign an ria, for every fast selling genuine MoU with SON as a way of fightproduct circulating, counterfeit- ing the scourge of influx of sub ers would either pirate or pro- standard products but they have duce something similar without not shown serious commitment regards for standards and speci- in this direction. fications. There is virtually – or “We initiated products authenhardly any product that is not tication and product sealing to deeither faked or its quality sub- tect sub-standard products. This standard when compared with is aimed at assisting consumers the original. From the pharma- in identifying subs-standard ceutical to the textile, beverage, products. The programme is half ceramics, electrical and electron- done and I know you will see it ics, book publishing, music and through. The campaign against even Nigeria’s fast rising home used tyres, which has resulted in video industry, the greatest fear loss of lives is on. We engaged in

Director General/Chief Execitive, Standards Organisation of Nigeria, Osita A. Aboloma

huge campaign to sanitise the nation on adverse effect of used tyres.”

Collaboration and aligning with other agencies will help in achieving the objective

Option of prosecution On many occasions, SON had threatened to prosecute anyone or organisations found to be manufacturing or importing fake and sub-standard products into the country. The agency’s immediate past Director-General, Dr. Joseph Odumodu, issued several threats without action in this regard. The organisation envisages to derive its prosecution power on the passing of the SON Amendment Act by the Seventh National Assembly. The new amendment to the Act authorises SON not only to arrest, but also to prosecute and jail purveyors of fake and sub-standard products in the country. On assumption of duties last month, the new helmsman at SON, Osita Aboloma, said as a lawyer, he will opt for prosecuting erring manufacturers and importers of sub- standard products. Describing the menace of influx of sub-standard products as a dangerous trend both to the economy and human health, Osita said as a lawyer, he would be left with no choice but to introduce prosecution of culprits. The SON boss said: “We all understand the present mood of government on change. We have to start the change from ourselves as ambassadors of SON. The influx of sub-standard goods is a disaster, especially as the present administration is very serious about diversifying the economy from oil to non-oil sector. This places a burden on SON and we have to be proactive. We can’t grow with influx of substandard goods. It’s not going to be business as usual. My administration will step up emphasis on prosecution. If you don’t prosecute, influx of fake goods will continue,” he said.

Subtle appeal as game changer Realising that the threat of prosecution alone may not deter those behind the importation of sub-standard products and manufacturers of such items, the SON DG appealed to Nigerians to reject sub-standard products in all ramifications, stressing it is a potential danger that could cause damage to the Nigerian economy. Making the appeal when he received members of the Steel Manufacturers Group who visited him in his Lagos office, Aboloma said his mission in SON is to ensure compliance to standards, safety and quality of products . He said the diversification to non-oil is a fulcrum for industries to strive to be at their best, adding that the nation will depend more on the manufacturing sector for the economy to boom. Government policies, he noted, are geared towards protecting local manufacturers from unhealthy competition to ensure sustainable development. The SON boss advised the group to embrace the change message by doing the right things at all times and admonished the group to comply with standards for a mutually beneficial relationship with the agency. According to him, though the 2015 SON Act gave the agency adequate powers to enforce standards, there is need to work together through understanding and cooperation. Collaborating with related agencies Though SON is statutorily assigned the central role of regulating products standard in the country, recent developments have shown that collaboration and aligning with other agencies will help in achieving the objective. The Central Bank of Nigeria (CBN) is key in achieving the task. Not long ago, the banking watchdog, in the quest to promote the economy and protect local manufacturing firms, restricted forex access to 41 foreign items. The Nigeria Customs Service, the nation’s gate keeper for import and export items, need to be part of the team; the National Agency for Food Drug Administration and Control (NAFDAC) and Consumer Protection Agency are agencies that must work hand in glove with SON if the war against the influx of substandard products and manufacturing of fake products must be won. Conclusion It’s certain the war against importation, manufacturing of fake and substandard items can’t be left alone for SON. All regulatory agencies- Nigerian Customs Service, the CBN, NAFDAC, and other agencies with presence at sea and airports must collaborate to win the fight.

BUSINESS |MONEY

mong the several announcements that President Muhammadu Buhari made during his trip to Germany a fortnight ago, the one that arguably attracted the most attention was his declaration that Nigeria’s Development Bank would soon commence operations. Addressing the German-Nigeria Business Forum in Berlin, the president stated: “I am pleased to announce that the Development Bank of Nigeria (DBN) will be taking off soon and should be a game changer in our economic diversification plans.” According to President Buhari, when fully operational, the DBN will support small and medium enterprises in the country, by improving their access to financing. He said: “Our ambitions of creating a diversified and inclusive economy in Nigeria can only be achieved by having a mix of small, medium and large businesses. This is why we worked with the German development agency, KFW, in designing the Development Bank of Nigeria, which will support the small and medium size enterprises both financially and technically to ensure they take their rightful place in the industrialisation value chain.” Also, last Monday, the Minister of Finance, Mrs. Kemi Adeosun, revealed that government had set January 2017 as deadline for all arrangements required for the take-off of the bank to be concluded. She stated that although the DBN project was conceived about three years ago, it had been hindered by some problems, which government had been able to successfully tackle. The finance minister said: “DBN was conceived about three years ago, but hadn’t gone anywhere; this is 2016. We announced it and when we got there, we said, what are the problems? There were some bottlenecks and fortunately we’ve been able to solve them. On Saturday, we were on a panel interviewing an MD and CFO for the DBN, this thing must take off by January. Let’s have some urgency.” Continuing, she said: “DBN is very important because it is going to provide money for MSMEs; and for Nigeria, that is really important, because 50 per cent of our Gross Domestic Product (GDP) is from small, mediumsized companies, petty traders, so finding a way to get money towards them is a really important part of getting out of the challenges that we currently face. “Getting Nigeria’s Development Bank off the ground is a big priority for us and we have set for ourselves very tight deadlines,” she added. Okonjo-Iweala’s optimism Industry watchers, however, noted that the DBN, which the minister said would begin operations with the expected release of a total of $1.3 billion seed funding from the World Bank and affiliates of the group, was launched with pomp on March 23 last year by former President Goodluck Jonathan. In fact, at that launch, Adeosun’s predecessor, Dr. Ngozi Okonjo-Iweala, had sounded

WEDNESDAY, OCTOBER 26, 2016 NEW TELEGRAPH

Development bank: Game changer or ruse?

There are concerns that the Federal Government’s optimism about the expected commencement of operations by the Development Bank of Nigeria (DBN) next year significantly boosting small and medium enterprises (SMEs), may prove to be misplaced, writes TONY CHUKWUNYEM

Adeosun

even more confident about the DBN’s prospects and the bank’s capacity to address the problem of lack of access to finance for Micro Small and Medium Enterprise (MSMEs). Okonjo-Iweala had stated: “ This is a very exciting day because it marks the momentous launch of the Development Bank of Nigeria (DBN), an initiative of President Goodluck Ebele Jonathan’s administration, which is set to usher in a new era of robust private-sector-led financing for our small businesses. It is well known that lack of access to finance and the high cost of finance are a major deterrent to the growth and development of micro, small and medium sized enterprises (MSMEs) in Nigeria.” She disclosed that the administration decided to establish a development bank based on the recommendations in 2013 of National Council on Privatisation (NCP) working group, which stated that the country needed a development finance institution (DFI) that would further open up access to finance for micro, small and medium enterprises. The former finance minister emphasised that in setting up the DBN, government considered the specific traits and characteristics, which studies had identified as being critical to the success of development banks. She said: “These traits include: having a clear mandate, being held to high standards of transparency, having adequate initial capitalisation and having strong internal governance such as an independent board, amongst others. “I am pleased to say our DBN is one of a kind and has set a standard that will be replicated in years to come. This is confirmed by the quality of international institutions that are providing capital and participating in the DBN. There is no other DFI launched in recent times that has attracted

Okonjo-Iweala

If the loans are not disbursed to those who are really qualified to access them... the chances of such a project surviving would be very slim

such interest. Analysts’ scepticism However, the consensus among analysts who commented on the imminent takeoff of the DBN and government’s optimism was that the chances of such a finance institution meeting the authorities’ expectations were slim. A senior analyst at Berta Investment Limited, Mr. Chike Osakwe, said: “I understand that the DBN was set up because MSMEs and SMEs are not getting the necessary funding from finance institutions such as the Bank of Industry (BoI) and the Bank of Agriculture (BoA). The question should be why are these institutions not living up to expectation? If the reason is that they don’t have enough capital, government should inject more capital into them instead of establishing a new development bank. He argued that instead of seeking developmental funds from the World Bank, the African Development Bank (AfDB) and other multilateral institutions, government should look for funds within the country to inject into the Bank of Industry (BOI) and the Bank of Agriculture (BOA). Besides, he said: “They (government) said that a total of $1.3 billion would be released by the World Bank group as seed funding for the development bank. But I am certain they are not telling us the whole truth. The World Bank knows we are not very efficient at managing such huge funds so they are not likely to release the entire amount. I can predict that at the end of the day, this new DBN will still have the same problems of inadequate capital that is hindering the operations of the BOI and the BOA.” Also expressing doubts about the capacity of a DBN to significantly improve SMEs’ financial needs, a financial consultant, who did not want his name in print, said that Nigerians were yet to

have a generally acceptable definition of SMEs and MSMEs, adding that it would be interesting to see the criteria that the DBN would use in disbursing its loans. He said: “We were at a seminar with CBN officials recently and we were surprised to learn that there was still confusion about the definitions of MSMEs and SMEs. The other issue is that when the DBN eventually commences operations, you will discover that federal character, ethnicity and religion will play key roles in determining who gets the loans. “So if the loans are not disbursed to those who are really qualified to access them, of course, the chances of such a project surviving would be very slim,” he stated. It will be recalled that the Permanent Secretary, Federal Ministry of Finance, Mohammed Dutse, had told journalists last August that government would set up a screening committee to consider applicants for the DBN loans, adding that the bank would concentrate on financing small and medium scale enterprises, which were major components of government’s diversification programme. “We will ensure that the project succeeds,” he stressed. Conclusion But industry watchers told New Telegraph that while access to funds was clearly a major issue for SMEs, their high cost of operations occasioned by low and inadequate power supply as well as antiquated infrastructure, was also a major reason why the sub- sector is struggling. They contended that government should focus on seeking funds to urgently fix the nation’s infrastructure, as this holds the key to the success of a development bank.

WEDNESDAY, OCTOBER 26, 2016 NEW TELEGRAPH

CONCERN Non Performing Loans (NPLs) will hit 12. 1 per cent beyond 2016

Tony Chukwunyem

he challenge posed by rising bad loans coupled with the high volume of fraud cases in the industry is hindering the ability of banks to discharge their critical role in the economy, the President/Chairman of Council, the Chartered Institute of Bankers of Nigeria (CIBN), Professor Segun Ajibola, has warned. He gave this warning while speaking at a seminar on banking and allied matters organised for judges. Citing data obtained from

BUSINESS |MONEY

How bad loans, fraud hurt banks, by CIBN the Nigeria Deposit Insurance Corporation (NDIC) 2015 annual report, which shows that persistent increase in the number of loan defaults to the tune of N649.63 billion as at the end of last year and the, “ever increasing number of ATM/Card-related cases – 8,039 in 2015”, the CIBN boss noted that while laws exist to deal with these problems, “they have continued to rear their ugly heads.” Pointing out that a well-functioning legal system is critical to resolving the “lingering problems of non-performing loans and financial crimes”, Professor Ajibola urged judicial officers to ensure that concerted efforts were made to effectively tackle the crisis as it was impacting on the economy. He said: “Let me also make this remark that every single loan created by a bank is a product of financialisation made possible by mobilised funds in the bank’s kitty, either in equity or deposit form. Any portion of such loan lost to a recalcitrant borrower is

therefore an impairment of the bank’s equity of deposit portfolio. Bad loans in the books of banks are a cankerworm, a disincentive to banks to perform their intermediation roles and a direct loss to willing equity holders in the form of opportunity cost of investing in banks. “Depositors of different categories may ultimately suffer loss of their hard earned sums invested in the bank. “The ultimate victim is the Nigerian economy, which is rendered prostrate by the attitude of the delinquent borrowers. This is why every stakeholder in the Nigeria’s Project must be concerned about the rising cases of delinquent loans in the banking industry, ditto financial crimes and must join hands together to fight the rampaging monsters.” Leading financial services groups, Afrinvest recently predicted that the volume of NPLs in the banking industry would hit 12. 1 per cent by the end of this year.

L-R: Chairman/CEO, Boff & Company Insurance Brokers Limited, Mr. Babajide OlatundeAgbeja; Special Guest, Dr. Oba Otudeko and Deputy Commissioner (Finance & Administration), National Insurance Commission (NAICOM), Mr. George Onekhena, during the 25th Anniversary celebration and unveiling of the new company identity in Lagos.

‘Financial inclusion, key challenge for most Africans’

lthough Africa’s financial environment is as competitive as other developing and high-income regions in some countries, access to finance remains a challenge, according to ICAEW (The Institute of Chartered Accountants in England and Wales). In its report Economic Insight: Africa Q3 2016, the accountancy and finance body notes that whilst some countries have excellent financial soundness, access to credit remains a challenge for many Africans. The study undertakes a comparative review of the financial systems and regulations in Africa relative to the sub-Saharan Africa (SSA) region. It compares indicators of the financial environment (including credit metrics, risk evaluation and monetary policy), as well as regulation and supervision standards. The report looks at the role financing can play in economic development across the continent and likely developments in the cost of financing in the coming years. In 2016 rankings, Rwanda

performed best in Sub Saharan Africa (SSA) in terms of getting credit, followed by Zambia, Kenya, Ghana, Mauritius and Uganda. These likely stems from the fact that Rwanda has made six reforms to facilitate getting credit during the 2010-16 period, strengthening borrowers’ and lenders’ collateral laws. However, Michael Armstrong, Regional Director, ICAEW Middle East, Africa and South Asia notes: “Financial inclusion remains low in Africa. Whilst many of SubSaharan Africa’s population has access to a formal banking system, in low income communities the degree to which individuals can access financial services is limited, especially when considering the limited availability of private credit. This could have real effects on economic growth if it remains unchanged. Governments hoping to drive prosperity should consider how they could increase access to finance. ” According to Making Finance Work for Africa (MFW4A), in 2015 only 23 per cent of African house-

holds had access to formal or semiformal financial services. There is thus a significant variation between countries’ levels of financial sector development. Private Sector Credit Extension (PSCE) to Gross Domestic Product (GDP) ratios reflect the extent to which banking sectors provide capital to business, and most SSA countries have relatively low PSCE to GDP ratios, which is indicative of the underdeveloped nature of the banking sectors and the limited availability of private credit in these countries. The report notes that South Africa and Mauritius have the highest PSCE to GDP ratios on the continent, with South Africa’s figure estimated at 150 per cent in 2015 while Mauritius’ ratio is estimated at around 104 per cent. These figures remain impressive even in a global context: South Africa’s ratio is higher than the UK’s (134 per cent), while Mauritius’s figure is slightly above the global middleincome, weighted at an average of 102 per cent. The high ratios result from the fact that these countries’ finance sectors are more sophis-

The firm stated: “The tough sociopolitical, economic and regulatory environment, which impacted performance in the banking industry in 2015, will hurt lenders’ performance this year. Newer threats to asset quality in the Nigerian banking system are expected to emerge given the level of concentration in select high-risk sectors as highlighted above. “Thus, NPLs are expected to remain pressured despite efforts by the banks to restructure significant portions of their loan books. We project industry’s Non Performing Loans (NPLs) in the ratio at about 12.1 per cent in 2016.”

AfDB, others partner to support ‘new urban agenda’

ollowing the adoption of the ‘New Urban Agenda’ adopted during the UN-sponsored global Habitat III conference recently, eight Multilateral Development Banks (MDBs), including the African Development Bank (AfDB), the Islamic Development Bank (IDB) have issued a “Joint Statement” expressing their commitment to promoting equitable, sustainable, and productive urbanisation and urban communities. The two institutions along with six other banks including the Asian Development Bank (ADB), the Development Bank of Latin America (CAF), the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the Inter-American Development Bank (IADB), and the World Bank – presented their plans to working, “together to ensure that the programmes we support promote a model of urban development that encourages equitable, sustainable, inclusive and productive settlements, including small rural communities, villages, market towns, intermediate cities, and metropolises,” said IDB’s Vice President for Sector Operations., Dr. Mansur Muhtar, in a statement. He said: “We do pay significant attention to urban development. Our new 10 yearsstrategic framework puts high emphasis on developing social and economic infrastructure, including urban development. Over the years, IDB has provided affordable housing to millions of people, and has been very active in providing funding to investments targeting liveability, inclusiveness, and sustainable development of cities. In the next 10 years, the Bank envisages to support the Urban and Housing Sector with about $5 billion additional financing. This will go a long way in supporting UN’s ‘New urban Agenda,’” said Dr. Mansur Muhtar, “As an MDB that provides alternative modes of financing, we have additional means of providing resources to support urban development. For instance, through its endowment funds (e.g. Awqaaf), IDB has made significant investments in the housing sector,” the IDB Vice President added. In line with their respective institutional mandates and governance structures, the organisations committed to fostering coordination between urban, regional and national development plans, strengthening planning institutions capabilities, and access to finance at all levels of government and in the private sector. Guided by their institutional mandates and their member countries’ own development goals, they committed to supporting the implementation of the UN ‘New Urban Agenda’ through direct financing, catalysing other resources, as well as domestic resource mobilisation. As such, they are determined to continue working to strengthen domestic financial markets, deepen financial inclusion, and attracting sources of co-financing to enable innovative and concessional funding to address the challenges.

BUSINESS | INVESTOR

WEDNESDAY, OCTOBER 26, 2016 NEW TELEGRAPH

Ponzi scheme: Why Nigerians must be sceptical

An average Nigerian investor, especially first-timers unaware of the workings of Ponzi schemes, has suffered considerably. CHRIS UGWU writes that investors should be sceptical of any investment that requires new investors to pay existing investors

ollowing the rising rate of illegal fund managers in Nigeria, the Securities and Exchange Commission (SEC) and other stakeholders have continued to raise the alarm over the activities of these outfits that have defrauded unsuspecting Nigerian of their hard earned money. The line of trade of these illegal fund managers, which are known as Ponzi scheme in the developed market, is usually tinted with promises of high returns on investments. What is Ponzi scheme? A Ponzi scheme is an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors. Organisers often solicit new investors by promising to invest funds in opportunities claimed to generate high returns with little or no risk. In many Ponzi schemes, the fraudsters focus on attracting new money to make progress payments to earlier-stage investors to create the false appearance that investors are profiting from a legitimate business. 2008 market crash It is believed that the activities of illegal fund managers were one the reasons for the crash of the stock market in 2008. In the height of the capital market boom of 20052008, many fraudulent investment schemes sprang up. Both informed and ignorant investors fell for the attractive returns offered by the promoters. At the crash of the capital market in 2008, SEC was inundated with complaints by investors who had lost money. Checks by New Telegraph revealed that the Inter-agency committee on illegal fund managers/ wonder bank, which comprised of the Central Bank of Nigeria (CBN), SEC, Nigeria Deposit Insurance Corporation (NDIC), Corporate Affairs Commission (CAC) and the Economic and Financial Crimes Commission (EFCC) submitted 560,882 total claims against 440 companies valued a N106.9 billion. The former head of enforcement and Complaint at the commission, Mr. Eric Elujkor, in a paper, ‘Addressing the Challenges of Ponzi Schemes and Other Scams in the Capital Market’ presented in 2012 at the SEC journalist award, said “of the 440 companies, 36 of them with value of N100 million and above accounted for N104.954 billion. According to him, the 36 illegal

Trading floor. Inset: currencies

operators and claims against them are: Nospectco Oil and Gas - N48.9 billion, Wealth Solution Limited - N21.5 billion, New Foundation Diversified Investment Limited N7.8 billion, Sefteg Nigeria Company Limited - N4.34 billion and Treasure Line Interlink Limited - N2.938 billion. Others are Pennywise Royal Limited - N1.93 billion, Wealth Zone Limited - N1.8 billion, Wisdom Investment Limited - N1.77 billion, Silver Trust Global Investment Limited - N1.6billion, Wealth Gate Multibiz N1.576 billion. Also included are Real and Coll Wealth International - N1.327 billion, Divine Success Merchandise Limited - N1.204 billion, Flagship Asset Managers Limited - N1.191billion and CyberWealth International - N956.5 million. Also on the list are Open Gate Cooperative Investment - N752.9 billion, Wealth Creation International N567.1 million, Positive Movement N502.9 million and Success Point International - N417.7million amongst others. Current surge SEC has cautioned investing public on the rising waves and activities of illegal capital market operators in the country. The attention of the Commission was last week drawn to an illegal operator in the Capital Market known as Ruby Gold Ventures (Crypto Currency investment). SEC, in a statement, noted that Ruby Gold Ventures was not registered by the Commission to perform any function in the capital market. “Its operations/activities in the capital market are therefore illegal. In view of the above, the investing public is hereby warned to stop and desist from dealing with the company in any capital market-related business. “Please note that any person who does capital market-related business with the company and its promoters after this publication does so at his/her own risk,” SEC noted. The commission had also recently in a notice cautioned the investing public about the activities of an online investment scheme tagged ‘MMM Federal Republic of Nigeria (nigeria.mmm.net). The apex market regulator said the platform has embarked on an aggressive online media cam-

Returns are paid from other people’s invested sum

paign to lure the investing public to participate in what it called ‘mutual aid financial network’ with a monthly investment return of 30 per cent. Consequently, SEC said: “The Commission hereby notifies the investing public that the operation of this investment scheme has no tangible business model hence it’s a PONZI SCHEME where returns are paid from other people’s invested sum. Also, the Commission does not register its operation. “The general public is hereby advised to distance themselves from this online scheme. Please note that anyone that subscribe to this illegal activity does so at his/ her own risk.” Similarly, SEC also raised the alarm on the activities of Mrs. Oge C. Ottiwu of No. 118 Zink Avenue, Opposite Eke Market, Awka, Anambra State, who engages in capital market activities without registration within Anambra State and its environs. According to the Commission, section 38(1) of the Investments and Securities Act, 2007 requires any person who intends to operate as a professional in the capital market or carry on securities business to be registered by the Commission before engaging in such activities. It said it was therefore illegal to carry on any kind of capital market business without registration. “In view of the above, the general public is hereby warned that any person dealing with the named person in any capital market-related business is doing so at his/her own risk,” the regulator noted. Zimbabweans’ experience Only recently, there was a report that thousands of people, among them civil servants and vendors, have lost thousands of dollars to fraudulent online pyramid scheme MMM Global Zimbabwe when it collapsed. Unconfirmed report from online media noted that the social financial network, which relied on an accelerating number of new members to pay off the old, abruptly terminated its services last month leaving participants stranded. This came as Econet’s mobile financial service platform, EcoCash distanced itself from the pyramid scheme. Participants claimed they were using EcoCash

for their transactions. Zimbabweans and Nigerians had in the past months been joining the online investment scheme in droves in a bid “to get rich quickly”. The Reserve Bank of Zimbabwe warned people that the scheme was fraudulent and there was no legal recourse in the event they lost their money. The Zimbabwean central bank said MMM, which advertises its operations through a website and recruiting agents, was not a registered or regulated entity. EcoCash said: “We have noted that some of these pyramid schemes are allegedly advertising in a manner that suggests that the Ecocash facility is a medium for prospective members to deposit their money. This is not correct. “We advise our valued customers and all stakeholders that Ecocash is a licensed mobile payment platform that enables customers to make financial transactions such as sending money, buying prepaid airtime as well as paying for goods and services within the confines of the law of Zimbabwe. EcoCash promotes safe and legal transactions but will not be held liable for any losses arising from the use of EcoCash to engage in illegal activities such as Ponzi schemes.” Need for investors’ education Market analysts have called on the SEC and the Nigerian Stock Exchange (NSE) to collaborate with market operators for a better structured public awareness campaign about illegal operators to avoid a repeat of what happened in 2008. The Managing Director/ Chief Executive Officer, Crane Securities Limited, Mr. Mike Eze, said there is need for a better structured public awareness campaign to be jointly anchored by NSE, SEC and market operators for the education of shareholders and the protection of their interests, especially the small investors. Nigerians must be skeptical of any scheme that requires new investors to pay existing investors, he warned. On what steps could be taken to avoid Ponzi schemes and other investment fraud, Eze said: “Whether you are a first-time investor or have been investing for many years, there are some basic questions you should always ask before you commit your hardearned money to an investment. “When you consider your next investment opportunity, start with these global accepted five questions: Is the seller licensed? Is the investment registered? How do the risks compare with the potential rewards? Do I understand the investment? Where can I turn for help?” Conclusion In the light of the lessons learned from the financial crisis in 2008 and other climes, there is a strong requirement to strengthen regulators’ investor education/awareness function, especially for retail investors to enable them adequate knowledge on investments to avoid getting their fingers burnt again.

WEDNESDAY, october 26, 2016 NEW TELEGRAPH

Containers of rice

Exactly one year after the Federal Government placed a ban on rice importation through land borders, the battle between the commodity smugglers and officers of Nigeria Customs Service has intensified by the day. BAYO AKOMOLAFE reports

n the last three years, Nigeria spent about $2.41billion on rice importation apart from those smuggled from the neighbouring countries. According to a Central Bank of Nigeria (CBN) report, the amount was spent between January 2012 and May 2015. It was learnt that in 2012, the country took delivery of 2.8 million tons; 2.8 million tons in 2013; 3.5 million tons in 2014 and 2.5million tons in 2015. The ban Miffed by the huge amount spent yearly, the Federal Government imposed a ban on the importation of the commodity through the land border in October 2015, having realised that the special levy on imported parboiled rice from 40 per cent to 100 per cent in addition to the 10 per cent statutory duty at the port was no longer working. The commodity is smuggled through the various land borders and creeks. Just a few days ago, NCS enforcement team said that it had intercepted 37 vehicles loaded with smuggled rice at a forest within Ipokia axis of Owode Alari, Ifoyintedo community, along Idiroko, the border between Nigeria and Republic

maritime

Evaluating FG’s ban on rice import of Benin in Ogun State. Also, in July 2016, the service said that its anti-smuggling units had confiscated 13,328 bags of rice in Ogun borders alone; apart from other illegal routes in Lagos, Oyo, Cross Rivers, Katsina, Sokoto and Kwara. Similarly, the Seme Area Command of the NCS impounded 12 trucks laden with 2,131 bags of 50 kilogrammes rice with a Duty Paid Value (DPV) of N23.9million. The imported rice was reportedly smuggled through Ere-creeks, bordering Lagos and Ogun states. Customs Area Controller of Ogun Command, Comptroller Waindu Multafu, who decried the unpatriotic attitude of smugglers in making rice smuggling a matter of life and death, noted that there were many creeks around the borders used by smugglers with small canoes to transport rice across rivers. He explained that rice was the most smuggled commodity in the state because of the financial benefits accruing to the smugglers. According to him, people smuggle rice to avoid payment of Customs duty. He added: “There is no place in our warehouse to put rice again. We are making efforts to dispose the ones we have in the warehouse. We made seizures of vehicles and motorcycles daily. They used the kind of vehicle that can carry 80 bags of rice.” The controller said that Ohunbe, Oke Odan and Ilase were some of the notorious places located along the road to Ajilete.

Benin does not consume parboiled rice, 90 per cent of the imports are for Nigerian markets

Benin Govt pleads A source in NCS disclosed to New Telegraph that the Benin government had written to the Federal Government of Nigeria pleading that the ban on rice should be lifted. The source noted that exports of rice from Benin to Nigeria were the main source of revenue to Cotonou Port. According to the source, “Benin does not consume parboiled rice, 90 per cent of the imports are for Nigerian markets. Large volume of the imports are shipped from Thailand, Pakistan, India, United States and Vietnam to Benin for transshipment to Nigeria.” Data from the Nigerian Ports Authority (NPA) revealed that 70 per cent of the import coming to Nigeria was shipped through the land borders and illegal routes. In 2015, over 1.8 million metric tons of rice were loaded in 30,000 trucks and routed via transit shipments through Niger to the northwest of Nigeria. The commodity is valued at N144 billion ($720 million). Cash cow It would be recalled that between January and August this year, NCS had seized rice valued at N598 billion through the Seme, Idiroko, Cameroon, Jibya and other borders and creeks. It was learnt that the value of the commodity seized was N267.2 billion higher than N330.5 billion rice seized in the same period in 2015. According to NCS’ Public Relations Officer, Mr. Wale Adeniyi, a deputy comptrol-

ler, the increase in the seizures was an indication that the customs was operating zero tolerance to illegal importation of rice. He noted that the Service’s relationship with its counterpart in Republic of Benin had helped to facilitate the spate of confiscation of the commodity along the borders of both countries. He said: “Our seizure on rice from January to August 2016 was N597.7 billion as against N330.5 billion during the same period in 2015. This shows a huge increase; the number of seizures from the statistics shows that smugglers now know that it is no longer profitable to bring in rice through the borders.” According to him, since importation of rice has been restricted to the ports, smugglers with one bag of rice are being arrested, particularly those using motorcycles, donkeys and even small vehicles. He said: “After the meeting we had with our colleagues from the Republic of Benin, we went all out on zero tolerance on importation of rice.” To further curb the menace of smuggling in the creeks, it was learnt that the service had sealed an interagency collaboration between its Eastern Marine Command and the Eastern Naval Command of the Nigeria Navy. Conclusion There is need for government to encourage and protect local rice farmers from smugglers in order to boost local production.

business \ maritime

PENALTY There is need for government to encourage and protect local rice farmers from smugglers in order to boost local production.

Bayo Akomolafe

he Nigeria Customs Service (NCS) has concluded arrangement to delist Nigerite Nigeria Limited from its fast-track scheme following the recent discovery of suspected hard drugs in the container belonging to company in Lagos. The Area Controller, Tincan Island Port Command, Yusuf Bashar, who disclosed this to our correspondent in Lagos, said Nigerite had breached the trust reposed on it. The said the container was among the 17 x 20 feet containers imported by the Nigerite through the port. It was discovered that there were eight black bags in the container that were not manifested. Bashar said that the nonmanifestation of the bags fuelled suspicion of foul play, which necessitated the involvement of National Drugs Law Enforcement Agency (NDLEA) “for due diligence analysis, investigations and feedback.” He added that Customs had put measures in place for careful examination of all cargo as well as scrutinisation of all declarations, using the parameters of acceptable standard. Bashar stressed that all the critical areas had been strengthened to ensure that standards were not compromised, as no infractions would be tolerated. The controller gave assurance to compliant importers and agents of customs’ support at all times, saying necessary steps would be taken to ensure facilitation of their legitimate

Drugs: Nigerite to lose Customs fast-track rights

trade. Meanwhile, the management of the Customs has commended its Tin can Island Port Command for their diligence in intercepting the Nigerite container allegedly said to contain hard drugs. The praise was contained in a letter to the command by the Deputy Comptroller-General, Enforcement Investigation and Inspection (E I & I), Dan Ugo. The commendation according to a statement was sequel to the recent discovery of a suspected hard drug substance from a 1 x 20ft container belonging to Nigerite Nigeria Limited in Lagos. Meanwhile, Customs’ Federal Operations Unit (FOU), Zone A has arraigned two notorious smugglers, Mr. Oyedeji Rashidi and Mr. Shuaib Sheyi, before Chief Magistrate Y.A. Aje-Afunwa of the Magistrate Court, Ikeja, Lagos on nine counts charge of smuggling prohibited items.

The suspect, according to the unit’s Public Relations Officer, Mr. Jerry Attah, had been remanded in Ikoyi Prison and are awaiting trial, as their case was adjourned to February 15, 2017. He noted that the Customs legal team led by Badejogbin David had prayed that the court should expedite the legal proceedings to serve as deterrent to others. It would be recalled that in October 13 2016, the service’s field operatives had on a tip off trailed some smugglers to Alakuko /Kola Junction area of Agege Lagos and intercepted two vehicles laden with smuggled rice. Attah told New Telegraph that one of the suspects, Rashidi, incited a mob attack against NCS operatives, who were armed with various dangerous weapons such as guns, cutlasses, broken bottle, sticks, stones among others, which resulted to a shootout between his men and

the smugglers. The Controller, Federal Operations Unit Zone A, Comptroller Umar Mohammed Dahiru, commended the Commissioner of Police, Lagos State, Fatai Owoseni, for prompt deployment of his men to stop what would have caused tensions and casualties. Meanwhile, NCS, Oyo/Osun Area Command has generated N11.14 billion between January and September 2016. Its Area Controller, Temitope Ogunkua, said in Ibadan that within the first three quarters of 2016, NCS had made 188 assorted seizures with duty paid value of N368.64 million. He explained that last July, the command intercepted 2,446 bags of rice, valued at N30million from smugglers in the two states. Ogunkua said that 23 vehicles were involved in the smuggling activities and that they were apprehended on Ilero-Otu road,

Saki-Iseyin road and at Alaraba village. The area controller said: “In the face of challenging security situation in the country, Customs has stepped up its security function in the area of policing our border line in such a way that those who do not wish our nation well will not have their way. “We have continued to record victory over economic saboteurs and in the last two weeks, this command made some seizures because of the vigilance of its men. “A DAF truck with number plate XA 997 FKY loaded with 610 bags of rice was arrested while another Volvo truck with number plate KSF 731 XE was also caught with 298 bags of rice. “In another intelligence operation, 21 fairly used vehicles were seized with 1,538 bags of rice. It is estimated that the bags of rice is worth around N29million.’’

Executive Director, Maritime Labour and Cabotage Services, Nigerian Maritime Administration and Safety Agency (NIMASA) Mr. Gambo Ahmed (5th from right) and some management staff of NIMASA with a delegation from Kano State Scholarship Board, led by the Executive Secretary, Professor Fatima Umar (6th from right) during a courtesy visit to the Agency recently.

Concessionaire floats digital platform for cargo movement he West Africa Container Terminal (WACT), operated by APM Terminals at the Port of Onne, has launched an online terminal services platform which enables customers to have better control over their cargo’s movement. The digital platform will help optimize logistics operations by providing real-time visibility into the status of cargo within the container terminal. Customers can select needed terminal services and book and pay online from their own office, rather than by coming to the terminal. The new services will help companies that handle the cargo movement throughout Nigeria operate more effectively and efficiently. According to the Managing Director of the company, Aamir Mirza, the tool would business easy within and around the port communi-

WEDNESDAY, october 26, 2016 NEW TELEGRAPH

ties. He explained: “Customers will have access to three core features: visibility into the movement of their cargo; support in getting their container in or out of the terminal at timings of their convenience; and online order and pay services. Additional services will be added to the platform based on customer demand. “Initial reaction to the platform has been positive. IFY Fancy, an import customerer at WACT, who was one of the first customers introduced to LIFT, was excited knowing customs inspections can be booked through the platform without having to come to the terminal. Company Secretary at IFY Fancy, Ms Jennifer Nnajiuba, said that it would save her company a lot of money as they not go to the terminal to monitor their cargoes.

Truckers to boycott Wharf road

ruck owners operating at the port access roads, Wharf and Creek roads, have resolved to withdraw their services from Lagos ports because of the dilapidated road, President, Association of Maritime Truck Owners (AMATO), Chief Remi Ogungbemi, has said. Ogungbemi, who disclosed this to newsmen in Lagos, said

that the two access roads were hampering their businesses in the state The president noted that the truckers’ planned boycott would have commenced before now but for the intervention of some influential people in the industry. He said: “For a long time now, we have been drumming it in the ears of the authorities

without any attention. We cannot continue to work in a vicious circle in which trucks breakdown after every trip to the ports due to bad roads. “We end up spending a huge amount to put them back on the road. It seems the only way left for us is to stay off the roads so that the authorities will listen to us and fix the roads.”

container vessels in Nigeria, Ghana and other parts of the world, has been recycling its vessels in China and Turkey. But now it has decided to shift to India as an alternate destination as well as for financial reasons. Already, the company has sent two vessels — Maersk Wyoming and Maersk Georgia to Shree Ram Vessel Scrap Pvt. Limited in India for demolition after exten-

sive audit of its facilities. The company’s Head of Sustainability, Annette Stube, said that many vessels would come to the shipyard in the next five years. Stube said that the company would not go to Bangladesh and Pakistan where standards were very poor to scrap vessels. “We have seen development in India where four yards have started operating at far superior levels.

Maersk moves to scrap 30 ships

here are plans by Maersk Line to scrap 30 of its decommissioned ships at India shipyard for recycling at competitive prices for financial reasons. The company is working with ship breakers as well as Gujarat Maritime Board (GMB) in India to improve the standards and working environment at Asia’s biggest ship breaking yard. The company, which operates a fleet of over 600 large

business \ maritime

WEDNESDAY, october 26, 2016 NEW TELEGRAPH

Ships berth with 209,000 tons of wheat, sugar COMPETITION Russia has crashed wheat price for the second time in the last one year in order to have access to the Nigerian market

According to the Russian Institute for Agricultural Market Studies, price of the country’s wheat for export from Black Sea ports had dropped to $169 a metric ton as of September 30, 2016. It said that Russian shippers had taken the advantage of a weak cur-

rency and falling freight rates in the global market, especially in Nigeria to undercut most competitors by selling their grain 39 per cent cheaper than cargoes from other wheat producing countries. Besides, it said: “American dominance in the global market has been

shrinking as long-standing importers from Nigeria, Egypt and China are shifting more purchases to Russia. “Russian wheat has crowded out U.S. supplies in Egypt, Nigeria, Bangladesh and Indonesia and gaining footholds in some other countries.”

Bayo Akomolafe

he Lagos Port has taken delivery of 209,000 metric tons of wheat and sugar at the Lagos Port Complex from five ships. Four of the vessels berthed with wheat valued at N21 billion ($68.74 million), while the other one docked with N6.7 billion ($16 million) sugar. Besides, 23 other ships are jostling for space at the port terminals with petroleum products, bulk fertiliser, frozen fish, steel products, bulk charcoal, butane, containerised cargoes, base oil and other goods expected to arrive port between now and November 5, 2016. The vessels laden with wheat include: Kingfisher with 33,000 metric tons; Desert Eagle, 46,000 metric tons; Desert Glory, 46,000 metric tons and Desert Eagle, 46,000 metric tons. Also, the Nigerian Port Authority (NPA)’s shipping position revealed that Bridegate had berthed with 38,000 metric tons of sugar. Because of the huge importation of wheat by Nigeria and other countries in Africa, Russia has crashed its wheat price for the second time in the last one year. It would be recalled that between 2015 and August 2016, the country shipped 1.44 million metric tons of the grain valued at N77.98 billion ($243.3 million) to Nigeria.

Customs release list of dismissed officers

igeria Customs Service (NCS) has released the name of its officers and men dismissed for various sharp practices at the seaports. Last week a total of 46 junior and senior officers were sent away from the service. While 29 were senior officers, 17 were in the junior cadre. It was learnt that the affected officers were investigated for illegal release of goods in advance before the arrival of vessels, release of containers without proper documentation, improper examination, payment of duties, fraudulent sale of seized items, collection of bribe to release prohibited items, release of export prohibitions, use of fake certificates and bribery to secure auctioned goods. The Public Relations officer of NCS, Wale Adeniyi, a deputy comptroller, listed names of the officers in the rank of deputy controllers as: Mustapha MT, Idris A.Z and Johnson D.H. However Mayaki S.O.D was exonerated after proper scrutiny. Others in the rank of assistant controllers category are: Ohamobi C; Daze P.D; Mahdi A.Z , Mbanefo P.C and Halilu A. R who was also exonerated. Also, in the rank of Chief Superintendent of Customs: Bello. A, Abdulahi R, Sale A.S, Nura Muazu Usman, Ekong N.A, Dan Ali.M, Sulaiman A.A and Andrew A.A. Officers in the rank of Deputy Superintendent of Customs include: Olajumoke .O, while Sambo A.U received warning.

Containers stacked at the Lagos Port

NPA to address gridlock, poor port access roads

he Nigerian Ports Authority (NPA) has said that the perennial gridlock, poor access roads leading to the ports in Lagos will be addressed in the next few weeks. The authority’s Board Chairman, Mr Emmanuel Adesoye, disclosed this in Abuaj in a statement. He explained that lack of functional truck holding bay had made port business a tasking venture. Adesoye said that the board would commit itself to excellence service predicated on zero tolerance to corruption and its associated vices. The chairman said that it would work in collaboration with the Federal Ministry of Transportation to ensure the speedy passage of the Ports and Harbour Bill into law by

the National Assembly. Adesoye said that when the bill is passed into law, it would provide appropriate framework for rapid port expansion and development including capacity building. He added that NPA would strengthen its regulatory role to concessionaires at all the ports. Adesoye explained that the board would ensure that NPA service delivery at port would be in line with modern best practices comparable to other ports in the maritime world. He noted: “We shall seek expert advice both within and outside the authority. The objective here is to ensure that within our tenure of service, the Nigerian Ports Authority is elevated to a higher pedestal that will make it the hub of mari-

time business in both the West and Central African sub-regions.’’ The chairman disclosed that the board would improve the fortunes of maritime sector by collaborating with the Nigerian Maritime Administration and Safety Agency (NIMASA), National Inland Waterways Authority (NIWA), Nigerian Shippers Council (NSC), terminal operators and others in the implementation of the government maritime policies. He said that the board would not lose sight in partnering with terminal and other port operators in removing all encumbrances militating against the achievement of optimum performance and improved port services capable of attracting higher vessel patronage, which will in turn translate into more revenue for the nation.

Commodities at Lagos Port this week Wanda A

Containers

68Units

Monday

Elizabeth River

Slag

46, 750tons

Monday

Hammonia Kosiko

Wheat

30, 000 tons

Monday

Ocean Warrior

PMS

15, 000tons

Monday

Sichem Beijin

base oil

7,000tons

Monday

MOLDedication

Container

250units

Monday

Aquila Enl

Gypsum

34,5676units

Tuesday

Road Runner

Sugar

46,500 tons

Tuesday

Desert Melody

Sugar

45,000tons

Wednesday

MSK Casablanca

Containers

400units

Wednesday

Monalisa

Containers

430units

Wednesday

Safmarine Chambal Containers

232units

Wednesday

Evanthia

14,042tons

Thursday

Steel

WEDNESDAY, OCTOBER 26, 2016 NEW TELEGRAPH

Literature

Arts

OPV controversy: Making science common sense

Culture, reliable means of retooling social systems – Evwierhoma

Tony Okuyeme

omen are germane to culture administration. They help to create and add value to the Nigerian culture architecture. Every opportunity for women to unite has to be exploited and the gains there from made to benefit other women’s association in the culture sector. If these are not existent now, their formation should be encouraged, notes Professor Mabel I. E. Evwierhoma, Department of Theatre Arts, University of Abuja. The erudite scholar said the resort to form associations, lobby and pressure groups by women to achieve diverse goals and targets though not new, remains a welcome and laudable development. Culture, according to her, remains an area of influence for women; and that women can achieve a lot through the coalition of women in culture. Women associations, she also noted, are weapons for tackling underdevelopment and their activities have paid off in recent years, as several foundations, donor agencies, banks and private individuals as well as media houses are now birthed, geared at making Nigerian women ‘look inwards’ and settle their development deficits and the crises accruing there from. Evwierhoma, who was the guest lecturer at the first public lecture/exhibition and launch of Association for Advancement of Women in Culture (AA-WIC), stated this in her lecture titled, “Nigerian Women in Development: A Rethink of the socio-cultural and political imperatives”. She noted that by these means also, public service-based networks and groups are structured to encourage self-sufficiency, sustainability and people-involved development. The event which was held last Wednesday at National Theatre, Iganmu Lagos, had in attendance dignitaries from the arts and culture sector, scholars, writers, artists, theatre practitioners among others, including Mrs Bridget

TONY OKUYEME ARTS EDITOR

tony.okuyeme@newtelegraphonline.com

Evwierhoma delivering the first public lecture

Yerima, who is the president of AAWIC, renowned scholar, Prof. Sophie Oluwole among others. In the words of Evwierhoma, formal and informal women associations have existed since the beginning of the concept of Nigeria as a nation and even in times preceding the Nigerian nation. “More could be achieved if AAWIC encourages women to place more premium on what is Nigerian, and discourage cultural foppery. Many Nigerian women often ponder what their fate would have been if they had mentors at the workplace. The time to build consensus among women in the public service generally and culture sector, specifically, is now. You must affirm a standpoint and identity that advocates your strength. This association should enable the women in it to bond and build self-worth or esteem. This is the time for socio-political inclusion arising from benefits from accruing social and political capital.” She called on AA-WIC to boldly transform cultural tasks into economic activities as championed by this administration to benefit both skilled and unskilled women who definitely would become skilled. “Your field spans the federal, states and local government areas. We have heard of economic and political saboteurs. The time is ripe to ask: Am I a culture saboteur? “AA-WIC should push for African sophistication and divert the thinking of our younger generation of women to the reliability of culture as a means

The time to build consensus among women in the public service generally and culture sector, specifically, is now

of retooling our social systems. “Women all over the world have been known to congregate formally or informally as long as their special needs and interests bind them together or even set them apart as the case may be. Women are capable emotional leaders of groups especially when they bond towards delivering set targets. Women associations in Nigeria, cut across diverse teams and groups to meet set goals and targets as stated above. Furthermore, women’s associations could be occupational, racial, or even based on habit or ideologies. At times they could be governmental or non-governmental, national or international. The dominant background within Nigerian women’s associations is the drive for achievement and group or self-improvement, also a kind of development. The major aims of these women associations are to make burdensome endeavour light, become responsible to and for the special needs of members, empower such in every ramification and form a sorroral bonding culminating to development. Also women’s groups help to carry out social welfare programmes in the sphere of self-help projects and management of group resources. These groups have sterling aims which they have achieved over the years. Some of these aims are: increased interaction,

solving of domestic and social problems and the enhancement of non-discriminatory relationships within the associations. Women’s associations in Nigeria, irrespective of origin, creed, problems and prospects have declared some of these crucial aspirations over the years: individual and corporate empowerment; aid for members, spouses and families; self-development and consciousness-raising through the sharing of experiences during performance; economic advancement for members in the form of financial stability; gainful self-employment, through performing or offering services for a fee; raised level of living/ expansion of horizons; interaction and increased socialization; enhancement of social stability through balanced growth and better health status. “Consequently, a nation needs to centralize women’s concerns via the various women-centred groups in it a la development which can better the lives of its citizenry. In social, economic, cultural and political aspects of life, women have more than ever, scaled hurdles which militate against them and their families, and subsequently force their subordination.” According to her, the social imperative of culture would require women to exploit the prerequisites of interaction and interpersonal relations. “Here, social skills that ensure the composition of the moral compass within the body corporate and individuals are accentuated. Vertical and horizontal interpersonal relations among women often breed outcomes that are negative in the workplace. Some of the skills are: mentoring, negotiation, empathy and social perception, persuasion, and service delivery. For its essential role in building social capital among women, mentoring is aimed at helping women surmount the problem of powerlessness through bonding. Its aim is to confront the issues that face women at work on a day –to-day basis, like stress, workplace politics, sexuality, career development, training, sex/gender differences, ageing, succession plan, to mention only a few. As a development option, it encourages counselling, guidance, builds the self-esteem of women among other merits.” She also spoke on the need for mentoring in women’s associations, noting that in any career path, mentoring is possible and should be encouraged. “AA-WIC can become an effective agency for workplace negotiation. Taught and learnt communication skills would help women to engage proactively in information dissemination; instruction; persuasion; debate and discussions; cultural promotion; integration; entertainment; education; social contact; surveillance; and convey receptivity.

WEDNESDAY, OCTOBER 26, 2016 NEW TELEGRAPH

NEWS Golden Pen Award holds October 28

ART

Artist advocates for made in Nigeria products

ll is set for this year’s edition of the Nigerian Breweries Golden Pen Award ceremony scheduled to hold on Friday, October 28, at Eko Hotel, Victoria Island, Lagos. A total of 267 entries were received when submission closed for the award which focuses on published reports on Education, Youth Empowerment and Talent Development in 2015, the company stated. The ceremony which is the 8th in the series will celebrate and reward journalists who submitted outstanding reports in these subject areas. According to the Corporate Affairs Adviser, Nigerian Breweries Plc, Kufre Ekanem, the award is in three categories. The winner of ‘The NB Golden Pen Reporter of the Year’ gets a special statuette and N1, 000, 000.00, (One million Naira), the ‘First runner-up in the NB Golden Pen Reporter of the Year’ category will get a Special statuette and N300, 000.00, while the ‘Second runner-up NB Golden Pen Reporter of the Year’ will get a Special statuette and N200, 000.00. ‘The NB Golden Pen Photojournalist of the Year’ will get a Special statuette and N500, 000.00; the ‘First runner-up NB Photojournalist of the Year’ will get a Special statuette and N250, 000.0, while the ‘Second-runner up NB Photojournalist of the Year’ will get a Special statuette and N200, 000.00. A Special statuette and N500, 000.00 will be awarded for the ‘NB Report of the year’. Winning journalists will also get high-end mobile devices as part of the reward package. Mr. Ekanem added that the award criteria of quality, professionalism and objectivity remain the filters upon which entries are shortlisted for the award, as decided by the independent judging panel. He also stated that other set criteria used by the panel to analyse the reports and photographs are originality, news value, use of resources, credibility, factuality, Info-graphics, lay out/headline, clarity and social impact.

Showkey, Oritsefemi, others thrill Ibadan fans as GOtv celebrates anniversary

badan, cradle of television broadcasting in Africa, came alive on Saturday when GOtv hosted residents its Customer Fair to mark the fifth anniversary of its operation in Nigeria. The Oyo State capital also has the honour of being the city that GOtv was launched on October 11, 2011. GOtv brand ambassador, Daddy Showkey, while praising subscribers for their loyalty, recounted that his musical career success started in the city. The celebration started in the city by a combination of music stars and popular comedians touring neighbourhoods. Among the performing artistes at the event were Daddy Showkey, Mr. Ibu, Oritsefemi, Aki and Pawpaw and Helen Paul, who were supported by other local entertainers. Helen Paul thrilled the audience with stupendous jokes, while Naija FM’s DJ Kentalky dished out trendy music to the delight of the guests before Daddy Showkey and Oritsefemi drew provoked rigorous dancing from the audience with their hit songs. Daddy Showkey took the audience down memory lane with a performance of his old hit-songs, such as ‘Showkey.’

Two of the works by Ogunlade

Flora Onwudiwe

he idea of ‘Made in Nigeria Series 1, the solo art exhibition of paintings and drawings by Babatunde Ogunlade, first struck during his one year international residency programme in Rio de Janeiro, Brazil, 2013. That was where he showcased the first and second solo exhibitions in Nigerian-Brazil Centre for Art and Culture owned by a Nigerian. The South American audience expressed surprise at the works of art as, according to him, they have not come across such uniqueness and texture of African, especially Nigeria. That was when it dawned on the artist that people still appreciate his cultural heritage. He said, “In Brazil one of the art fans marveled at my works and said I did not believe good paintings could come out of Nigeria. “I was able to perfect each aspect in all the art works that were on display and these were drawing, landscape and abstract paintings. “There is a lot more that we can offer to the world than mineral resources and other raw materials that the world has come to identified Nigeria with.” The young lad was gingered to work tirelessly for more than one and half years without making any reference or sketching picture, but he was purely doing abstract paintings. He noted that he was able to assembled 30 artworks, out of which 11 were miniature paintings, three drawings, two pastels and other abstract paintings that were mainly on Oil and Canvas and were show-

cased for 10 days at Moor House, Ikoyi, in collaboration with the Alliance Francaise, Lagos. A graduate of Federal Polytechnic Auchi, in 2002, he majored in painting and has been practicing painting after his National Youth Service Corps (NYSC). Ogunlade has distinguished himself in the challenging and intriguing genre of abstract impressionism; working more on bold and distinction of African motifs. He has a firm grip of merging postmodern design elements with traditional visual, idioms that was almost like what was obtained in the folk art of his native Ogun State in Nigeria. He has developed these talents closed to 20 years demonstrating his skills to the art fans and the art community in the interpretation of basic geometric shapes which came in squares, circles, rectangles, triangles. Also, there is crusading spirit evident in the entire works of the artist, when he said, “We have other areas that can generate revenue for Nigeria without depending

Ogunlade

solely on oil, art is another area that can support the economy. “The melt down in oil sector has mess up our economy, most countries groom their art sector, some countries do not have oil but they use art to develop their country. We can invest in art and culture to boost our economy, we should as well encourage, Made in Nigeria, he enthused. In his artist statement, “Made in Nigeria Series 1, showcased works of art dated back three years ago and most of the styles of my painting are mostly abstract that is derived from the combination of basic design and Mural design merges to form a whole.” “Nigeria Art is widely accepted in Western countries due to the African rich cultural heritage, most Nigeria Art has great impact in the International market apart from oil that is well known in Nigeria starting from Nok, Ife, Benin and Essen stone. “Despite the fact the falling of oil price in the international market has affected our economy generally in our country, which is blessed with a lot of creative minds, with so many natural resources that is yet to be utilized. Before the discovery of crude oil, Nigeria is well known in Agricultural sector and Art and Culture. “These two major sectors can be used as an alternative for raising our economies in Nigeria, due to the failing of oil market and we should embrace goods Made in Nigeria.” In one of his artworks titled , Lantern on charcoal, with a cup filled with different pen and a large book on the table symbolized education. Here the artist is ad-

monishing parents that the best legacy they can give their children is education adding that when parents lay such a good foundation, they have sewn a very bright future in the lives of children. Also, the artist did only task the parents to ensure that their children is given proper education, but frowned at parents from affluence home who have thrown our cultural values to the wind. He said most children cannot recognize Lamp or Lantern that was used before the advent of electricity for studying late at night,when the electricity is off, as he simply puts it, “the challenge here is the absence of electricity not all the children is aware that they can equally make use of the lantern to study late at night, the absence of electricity, so many children do not know what lantern is, that is where our cultural value comes in.. While in another titled work; Leaders of Tomorrow, he said, “everybody cannot be a leader, I can be a leader through advice or impartation to the younger ones, I use aquatic environment, this is a big fish here, fish in the water is focused with other smaller fishes coming after the fish.” Here, he is being metaphorical by linking the fish in the water to man in his environment. The small fishes in the water are being referred to the youths who are growing up as young man, who are faced with challenges of life before they can arrive at successes. While growing up the journey of life, not everyone gets to the end, some fall by the wayside and those that survive, when they recall it, is all about discipline for them to have achieved that success.

LITERATURE

WEDNESDAY, OCTOBER 26, 2016 NEW TELEGRAPH

OPV controversy: Making science common sense Book stand

ow has vaccination, the scientific method for preventing poliomyelitis and a new way of looking at the disease, became a part of common sense? Indeed, concerns over the safety of vaccines have been the subject of intellectual discourse and research since 1709 when Edward Jenner, a country doctor living in Berkley, England conducted the first vaccination by taking pus from a cowpox lesion on a milkmaids hand and using it to inoculate an 8-year-old James Phillips. In this seminal book, Living Science & Miracles, the author, Bankole Falade, PhD, a scientist, journalist and social psychologist with interest in science, religion and public life, media and communication studies and research methodology, provides a historical background of vaccination controversies from all over the world including Brazil, Kenya, Tanzania, Cameroun, United Kingdom and the United States. Specifically, it examines how the OPV controversy evolved and compares this with others in history. It also studies the relationship between religious beliefs, knowledge, and attitudes to science. Divided into eight chapters and Appendixes, the 186-page book, published by Promisedland Communications Ltd, examines media coverage of the oral polio vaccine from 2001 – 2009 in Nigeria, to identify representation and how they were formed, discarded or sustained in the process of sense making. The author also contextualizes the vaccine coverage against the backdrop of the image of science in the media in the same decade. Another part of the book, which is further divided into five sections – A, B, C, D and E – features the findings of a survey of knowledge, attitudes, interests and being informed which maps the culture of science and its relationship with religious beliefs. In chapter one, titled “God, god, democracy and science” In chapter one, titled “God, god, democracy and science”, the author contextualizes the emergence of religious, tribal, and democratic pluralism, as it also relates to the questions: What is the relationship between science and religion? How does the familiar affect the acceptance of the unfamiliar? “Patterns of vaccination resistance” is the focus of chapter two, in which he looks at ‘Vaccination resistance in Northern Nigeria: 2001 to 2009’, and other grounds for resistance to vaccines; ‘Vaccines as victims of scientific success’; as well as theoretical approach. In chapter three, the book focuses on ‘Making science common sense, as it examines such issues as “Science and religion: conflict or coexistence?” He also examines various approaches, namely: The

Book title: Living Science & Miracles Author: Bankole Falade, PhD Pagination: 186 Publisher: Promisedland Communica tions Ltd Year of publication: 2016 Reviewer: Tony Okuyeme

engineering approach; The scientific establishment approach; Science policy and democratic governance; The social representations approach, which looks at relationship between science and common sense, as well as science and the new common sense; Cognitive polyphasia or cognitive dissonance; Social representations and mass media; Social representations, risk perception and PUS. Chapter four examines the mass media coverage of the Oral Polio Vaccine (OPC) controversy - the Intensity of coverage and disease influence; The themes and actors in the debate; Qualitative analysis of themes Relationship of actors, theme

and valuation; and The media and the OPV controversy Science in the Nigerian public sphere is the focus of chapter five. The author posits that “the media are pen spaces for symbolic social struggles for the meaning of objects in our globalized news world… The place of science is a measure of its acceptance as well as a society’s aspiration and fears. While chapters six dwells on “The mediating effect of religion on attitudes to science”, examining the mediating effect of religion on attitudes to science; chapter seven looks at “Living with God, gods, and science”. He extrapolates that “experience and storytelling are the driving forces for common sense and to change certain practices, such as resistance to vaccination (or any scientific phenomenon), there needs to access to more positive experiences with science to fill the story mill. The more positive experiences the people of Nigeria have with science, the more goodwill they may bestow on it and the more faith people will have in it for understanding and resolving some of the issues in their daily lives.” The value we ascribe to science indeed depends on what the society thinks of it and this is anchored on perceptions of the source and message, context, culture, and communication practices, notes the author in chapter eight which focuses on Science and the new common sense. He also examines the representations and the oral polio vaccine controversy; science in the media; survey of science in the Nigerian society; living with faith in science and religion; and policy implications of findings. No doubt, Living Science & Miracles is a must read, and in the words of Prof. Martin Bauer, of London School of Economics and Political Science, in the blurb of the book, a “classic story telling using media articles and social theory, and it is suitable to both academic and nonacademic audience.”

What we are reading

POETRIP

THE SAME I really enjoyed reading the book To Kill a Mockingbird, written by Harper Lee. It is a story about Atticus Finch, who is a lawyer, as told by his daughter. I always tell people that reading is the cheapest way to travel. You don’t need a visa; you don’t need a plane ticket; you don’t even need to prepare yourself and dress up for a different climate. You just relax and read a book and you are transported. And even better with this is that you are not just transported to another place but also to another reality. It expands your thinking; and makes you to appreciate people’s challenges the more.

In this insightful, thought-provoking and philosophical book, Femi Taiwo, argues and analyses what he describes as Africa’s hostility towards modernity and how it affects economic development and social political transformation. It is about this argument that why don’t we, like the Chinese and the Japanese have done, adapt the so-called Western culture and tradition, to develop our nation. Of course reading gives you possibilities, takes your mind to places that you might not think of dream of. I mean, a literate mind is a liberated mind.

Iquo Diana Eke

Toyin Akinosho

TONY OKUYEME ARTS EDITOR

tony.okuyeme@newtelegraphonline.com

Oladipo Kehinde I taste the fountain of fresh hope I wear the colour of a hopeful day as the sunset hums to the ears of the Mountain The rainbow welcomes the rain and the cloud to its festival of colour In the season of song Who will loan chameleon The rainbow’s robe? I pick ripe words in the basket of my heart From the garden of love We are in the same school of thought Learning the alphabet of the clouds

WEDNESDAY, OCTOBER 26, 2016 NEW TELEGRAPH

GUIDANCE Nigeria’s low debt is a source of strength

BUSINESS | MONEY LINE

IMF to Nigeria, others: Remove subsidies, raise taxes Says Eurobonds shouldn’t be main source of financing

Tony Chukwunyem WITH AGENCY REPORT

n order to effectively absorb the impact of their slowest growth in more than two decades, Nigeria and other African exporters of oil and commodities should remove subsidies and boost taxes, the International Monetary Fund (IMF) said yesterday. The Fund has also stated that African nations needed to balance commercial debt, such as

Eurobonds, with other cheaper forms of financing from development institutions. According to Reuters, the Director of IMF’s African Department, Abebe Selassie, said growth could start to recover next year to three per cent, but only if the battered economies carry out fiscal reforms. The news agency quoted Selassie as saying: “Should they fail to do that, vulnerabilities will heighten and the crisis of the weak economic performance we have seen so far will get even more difficult.”

The IMF cut its 2016 growth forecast for Sub-Saharan Africa to 1.4 per cent, from 3 per cent in May, as the drop in commodity prices impacted countries such as Nigeria and Zambia. African economic growth was more than 5 per cent in the decade leading up to the commodity price slump, but it is now being dragged lower by 23 resource-dependent nations like Nigeria, South Africa and Angola. While average growth was 3 per cent last year, countries that are more diversified like Rwan-

Fidelity Bank rewards savings account promo winners Chris Ugwu

idelity Bank Plc has rewarded winners who emerged from its Get Alert in Million Promo draws held in various locations in the country. The lucky winners according to a statement, emerged from a transparent draw witnessed by officials from Consumer Protection Council (CPC) and others went home with different prizes. Eighteen people emerged winners for the September promo across the country, among who were Abiche Mary Iyefun who went home with N3 million, Damilola Emmanuel Olufemi N2 million while Duru Alphonsus, Umar Yahaya, Ogadimma Jacinta Iwuoma and Dele Femi Omoniyi won N1 million each. Others went home with consolation prizes ranging from refrigerators and generating sets respectively. According to Fidelity

Bank’s Executive Director, Lagos and Southwest, Mrs. Nneka Onyeali-Ikpe, who represented the Managing Director Nnamdi Okonkwo, the promo is part of efforts in encouraging culture of savings in Nigeria. She explained that the promo, which was the sixth in series the bank has conducted in the last nine years, is structured to make savings accounts holders, millionaires. Head, Savings Group, Mrs. Janet Nnabuko, explained that to qualify for the monthly and quarterly draw, existing customers are to pay in N10,000 into his or her account for the monthly draw while N50.000 qualifies one for the quarterly. She said that new customers are required to open an account for with N20.000 to be qualified for monthly draw. Head Retail Banking, Mr. Richard Madiebo noted that the promo was introduced to

help penetrate and advance financial inclusion in the country. He said the Bank launched the scheme in a bid to encourage savings culture and also to reward customers for their loyalty. The Star Prize winner, Mr. Damilola Emmanuel Olufemi who won N2 million in Lagos area, commended the bank for its effort in empowerment. He called on the more existing and new customers to key into the promo that was transparent. For Olufemi, two million naira winner in the first monthly draw marked a big step in his journey to fulfil his dream of becoming a successful music producer. Olufemi said he got surprised when the Executive Director, Lagos & SouthWest, Mrs. Nneka OnyealiIkpe, in an elaborate event held at our Corporate Headquarters in Lagos handed over the N2 million cheque to him.

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

N19,142,526.05m

Mar, 2015

N18,579,219.49m 17.9 14 10.77 US$51.37 US$23,930,462,967

Mar, 2015 September, 2016 26/07/2016 Mar 2015 25/10/2016 24/10/2016

Tenor (Days) Call 30 90 180

FGN Bonds

TTM

1.07 3.24 3.87 5.82 7.95 9.81 14.31 18.29

Price 104.65 114.59 111.96 120.58 109.60 100.54 83.82 97.56

NIBOR

Rate (%) 4.4583 9.1071 11.0102 12.3790

Treasury Bills

Bid Yield 10.38 10.55 11.60 11.44 12.27 12.40 12.44 12.49

Change (%) -2.50 ▼ -0.74 ▼ -0.65 ▼ -0.68 ▼

da and Senegal will continue to grow at more than 5 per cent. Nigeria, which is in its first recession for more than 20 years, has been seeking to widen its tax base, to offset lower revenues caused by the slump in oil prices. Selassie said Nigeria’s low debt was a source of strength, adding officials needed to offer more certainty through a “coherent and consistent policy package”. He noted: “Fuel subsidies take out huge amounts of government resources and generally also they tend to be very regressive.” Selassie said African nations needed to balance commercial debt like Eurobonds, with other

cheaper forms of financing from development institutions. Eurobonds “cannot be the main source of financing for countries. It can complement other forms of financing and importantly, you want to minimize the deficit financing,” he stated. The Minister of Finance, Mrs. Kemi Adeosun, said last week that the Federal Government was optimistic of selling a Eurobond worth around $1billion before the end of the year and was in the process of appointing managers for the transaction. The Eurobond is part of the country’s plans to borrow a total of N1.8trillion ($5.8billion) from abroad and locally to fund an expected budget deficit of N2.2trillion this year.

FirstBank wins ‘digital bank of distinction’ award

irst Bank of Nigeria Limited has won Global Finance’s “Digital Bank of Distinction” award, 2016, according to a statement issued by the lender. According to Global Finance: “The Best Digital Bank Awards are the undisputed authority on the world’s leading digital banking service providers. Now in their 17th year, these awards have become the most prestigious honour in the industry. This new award recognises outstanding accomplishments in digital banking made by middle-market and local banks. It honours banks that may be outspent by their global competitors but still consistently provide best-inbreed solutions to their retail and corporate clients.” Speaking on the award, the Head, Digital Banking for FirstBank, Mrs. Folasade Femi-Lawal, said that the award is a testament to FirstBank’s commitment in lever-

aging evolving technologies to bring fast and convenient financial services closer to Nigerians, in line with the bank’s digital banking strategy. “Today, we are delighted that we have been able to deliver digital banking solutions that support the consumer lifestyle by providing users with an instant suite of financial options on various digital platforms in a convenient and highly secure environment. At FirstBank, we remain committed to delivering long-term benefits for both our customers and the Nigerian economy as we continue to put our customers first,” Mrs. Femi-Lawal further explained. Winners according to the statement, were chosen among entries evaluated by a worldclass panel of judges at Infosys, a global leader in consulting, technology and outsourcing. Global Finance editors were responsible for the final selection of honorees.

Weak currencies: Diamond’s Atlas Mara’s profit falls 44%

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

Change (%) -0.02 ▼ -0.01 ▼ 0.00 ↔ 0.00 ↔ -0.07 ▼ -0.08 ▼ -0.03 ▼ 0.02 ▲

Price 104.80 114.89 112.26 120.88 109.90 100.84 84.12 97.86

Tenor (Months) 1 2 3 6 9 12

Offer Yield 10.24 10.45 11.51 11.38 12.22 12.34 12.39 12.44

NITTY

Rate (%) 6.9949 7.2368 8.0819 9.2061 9.5872 10.5042

Change (%) -0.02 ▼ -0.01 ▼ 0.00 ↔ 0.00 ↔ -0.07 ▼ -0.08 ▼ -0.03 ▼ 0.02 ▲ Change (%) 1.12 ▲ -0.27 ▼ -0.17 ▼ -0.11 ▼ 0.03 ▲ 0.42 ▲

Money Market

Maturity Date Discount Bid Yield Change (%) Discount Offer Yield Change (%) Rate (%) 7.67 7.82 -0.51 ▼ Open-Buy-Back (OBB) 3.83 30-Jun-16 7.92 8.08 -0.51 ▼ 6-Oct-16 8.59 8.34 8.71 -0.31 ▼ Overnight (O/N) 4.33 8.99 -0.31 ▼ 16-Mar-17 9.36 10.28 -0.07 ▼ 9.11 9.98 -0.07 ▼

Change (%) -1.75 ▼ -2.08 ▼

tlas Mara Ltd., which was co-founded by former Barclays Plc Chief Executive Officer, Bob Diamond, has said third-quarter earnings dropped 44 per cent because of falling currencies. The company, which invests in African banks including Union Bank of Nigeria Plc , has lost more than 73 per cent of its value since an initial public offering in December 2013. It started a cost-cutting exercise earlier this year as expenses engulfed income and threatened its ability to grow by acquisition. With operations in seven African countries, Atlas Mara needs five to seven years to build its business on the continent, Diamond said in an interview in September. Net income for the period through September was $4 million compared with $7.1 million a year earlier, the company, in-

corporated in the British Virgin Islands and traded in London, said in a statement on yesterday. Expenses rose 19 per cent because of acquisitions, while total income increased 15 per cent. The bank reported a $5.2 million adverse currency impact, while non-performing loans as a percentage of the loan book were 15 per cent. “Although uncertainty around the economic environment, exchange rates and monetary policies in our markets make near term forecasts difficult, we expect the improving operational momentum” to continue, Atlas Mara said in the statement. Deposits rose 32 per cent on a constant currency basis and loans extended during the period increased 23 per cent, while costs excluding acquisitions increased 6.5 per cent, the company said.

BUSINESS |FINANCIAL MARKET NEWS

WEDNESDAY, OCTOBER 26, 2016 NEW TELEGRAPH

FMDQ Daily Quotations List

25-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)

Maturity Date

TTM (Yrs)

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

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 20.00 100.00 300.00 351.30 233.90 606.43 225.59 605.31 719.99 468.02 75.00 150.00 200.00 591.57 1075.92 352.00

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

0.50 0.75 0.85 1.59 2.67 2.99 3.30 4.72 5.26 7.38 9.24 12.09 12.57 13.07 13.74 17.73 19.39

17.73 19.33 19.94 18.66 14.61 14.85 15.07 14.91 14.85 15.03 15.43 15.32 15.31 15.29 15.26 15.11 15.48

17.40 19.10 19.72 18.53 14.54 14.78 14.95 14.82 14.77 14.96 15.36 15.27 15.24 15.21 15.19 15.05 15.42

98.78 93.56 92.05 89.39 102.93 81.56 101.13 98.58 105.41 96.31 85.75 98.20 84.46 62.06 70.05 81.84 81.18

98.93 93.71 92.20 89.54 103.08 81.71 101.43 98.88 105.71 96.61 86.05 98.50 84.76 62.36 70.35 82.14 81.48

TOTAL OUTSTANDING VALUE

6,555.16

TOTAL MARKET CAPITALISATION

5,896.55

Rating/Agency

Agency Bonds Nil

TOTAL OUTSTANDING VALUE

Description

Issuer

17.25 FMB II 03-APR-2017

FMBN

6510.155565

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

0.26

2.94

18.49

99.64

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

0.48 0.44 1.18 1.22 1.23 1.19 1.20 1.38 1.80 3.07 1.76 4.09 4.18 2.41 2.44 2.99 3.20 3.23 3.34 6.46 3.32

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

18.54 22.86 22.60 21.06 21.02 23.99 23.71 23.30 19.93 16.89 19.05 16.28 18.73 18.12 16.50 16.37 18.94 15.94 17.50 16.66 18.01

96.20 96.34 91.40 92.84 92.83 90.94 90.67 91.43 93.74 94.41 93.92 91.89 89.43 93.42 97.14 98.04 94.55 101.25 99.95 101.14 97.64

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

422.14 397.73

Corporate Bonds

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

TOTAL OUTSTANDING VALUE

***LCRM UBA *LA CASERA *C & I LEASING #{r} *DANA *TOWER# *TOWER# UBA *CHELLARAMS# *DANA#{r} *TRANSCORP HOTELS PLC LAFARGE AFRICA PLC *TRANSCORP HOTELS PLC FCMB NAHCO LAFARGE AFRICA PLC *FCMB UBA FIDELITY STANBIC IBTC STANBIC IBTC *NMRC

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 15.75 LA CASERA 18-OCT-2018 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 MPR+5.00 CHELLARAMS II 17-FEB-2019 16.00 DANA II 1-APR-2019 15.50 TRANSCORP 4-DEC-2020 14.25 LAFARGE 15-JUN-2019 16.00 TRANSCORP 26-OCT-2022 15.00 FCMB 6-NOV-2020 15.75 NAHCO II 14-NOV-2020 14.75 LAFARGE 15-JUN-2021 14.25 FCMB I 20-NOV-2021 16.45 UBA I 30-DEC-2021 16.48 FIDELITY 13-MAY-2022 182D T.bills+1.20 STANBIC IA 30-SEP-2024 13.25 STANBIC IB 30-SEP-2024 14.90 NMRC 29-JUL-2030

09-Dec-11 20-Apr-12 06-Jul-12 30-Sep-10 18-Oct-13 30-Nov-12 09-Apr-11

0.00/16.00 0.00/16.50 0.00/16.50 13.00 15.75 18.00 16.00

112.22 116.70 66.49 20.00 1.20 0.36 2.70

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

0.12 0.48 0.70 0.93 1.23 0.61 0.95

1.00 3.55 5.25 1.88 4.42 1.88 3.15

16.40 21.09 24.21 22.33 24.46 20.29 23.76

99.83 97.96 95.19 92.48 91.44 99.52 93.78

09-Sep-11 09-Sep-11

18.00 16.00

1.45 0.40

09-Sep-18 09-Sep-18

1.12 1.12

6.35 1.00

26.80 21.45

92.12 94.90

30-Sep-11 17-Feb-12 01-Apr-14 04-Dec-15 15-Jun-16 26-Oct-15

14.00 18.00 16.00 15.50 14.25 16.00

35.00 0.23 3.75 9.76 26.39 10.00

30-Sep-18 17-Feb-19 01-Apr-19 04-Dec-20 15-Jun-19 26-Oct-22

1.93 1.32 1.43 2.55 2.64 3.72

1.17 6.11 3.28 3.55 1.00 2.77

18.57 25.82 22.55 18.77 16.15 17.79

92.81 91.88 92.53 93.77 95.97 95.51

06-Nov-15 14-Nov-13 15-Jun-16 20-Nov-14 30-Dec-14

15.00 15.75 14.75 14.25 16.45

23.19 2.05 33.61 26.00 30.50

06-Nov-20 14-Nov-20 15-Jun-21 20-Nov-21 30-Dec-21

4.03 4.05 4.64 5.07 5.18

4.47 1.00 1.00 2.51 1.00

19.46 15.98 15.92 17.39 15.88

87.92 99.30 96.22 89.67 101.90

13-May-15 30-Sep-14

16.48 16.29

30.00 0.10

13-May-22 30-Sep-24

5.55 7.93

1.00 1.00

15.88 16.15

102.15 100.57

30-Sep-14 29-Jul-15

13.25 14.90

15.44 7.82

30-Sep-24 29-Jul-30

7.93 9.15

1.00 1.00

16.15 16.39

87.24 93.42

10-Oct-20

2.28

3.37

19.48

91.84

575.36

TOTAL MARKET CAPITALISATION

554.72

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

1.30

1.00

17.96

91.31

Aaa/Moody's; AAA/S&P

*AfDB

11.25 AFDB 1-FEB-2021

10-Jul-14

11.25

12.95

01-Feb-21

2.52

1.00

14.05

94.31

Bid Price

Offer Price

BBB-/Agusto

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

14.75

8.63

8.63 7.93

Supranational Bond

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Rating/Agency

24.95 23.17 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

6.83

6.58

99.71

100.62

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

4.75

4.30

100.60

101.35

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

6.93

6.76

97.05

97.93

101.99

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

1,486.79

Corporate Eurobonds B+/S&P

ACCESS BANK PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

5.88

4.49

100.97

B/Fitch; B/S&P

FIDELITY BANK PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

18.57

17.39

85.00

86.38

B+/Fitch; B+/S&P

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

6.46

5.67

99.13

100.62

B+/Fitch; BB-/S&P

ZENITH BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

7.42

6.79

97.40

98.78

B/Fitch; B/S&P

DIAMOND BANK PLC

8.75 May 21, 2019

21-May-14

8.75

200.00

21-May-19

22.10

20.54

74.83

77.33

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

13.99 11.33 14.70

13.29 11.33 14.35

83.18 92.27 77.17

84.99 92.27 78.17

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

Maturity Date

DTM

# Risk Premium (%)

Valuation Yield (%)

Discount Rate (%)

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Rating/Agency

3,150.00 2,819.59 Description

Issuer

Outstanding Value (₦’bn)

Issue Date

Yield @ Issue (%)

FSDH CP I 28-NOV-16

30-Aug-16

16.64

0.81

28-Nov-16

1.00

16.40

16.16

FSDH CP II 26-MAY-17

30-Aug-16

21.89

14.17

26-May-17

213

2.49

20.74

18.50

Commercial Papers A-/Agusto A-/Agusto

TOTAL OUTSTANDING VALUE

FSDH MERCHANT BANK LIMITED FSDH MERCHANT BANK LIMITED

14.98

**TREASURY BILLS^ DTM 9 23 37 44 51 65 72 86

FIXINGS Maturity 3-Nov-16 17-Nov-16 1-Dec-16 8-Dec-16 15-Dec-16 29-Dec-16 5-Jan-17 19-Jan-17

Bid Discount (%) 18.18 14.79 17.25 17.04 16.17 16.30 17.89 14.46

Offer Discount (%) 17.93 14.54 17.00 16.79 15.92 16.05 17.64 14.21

Bid Yield (%) 18.26 14.92 17.56 17.40 16.54 16.78 18.55 14.97

Money Market

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 11.8750 18.2397 19.7521 21.6925

Foreign Exchange (Spot & Forwards)

Tenor

Rate (%)

OBB

10.67

Tenor

Closing Rate ($/N)

O/N

11.58

Spot 7D 14D 1M 2M 3M

305.00 315.62 317.37 319.69 324.01 326.61

Tenor Call 1M

REPO

Rate (%) 12.00 14.00

FMDQ Daily Quotations List

25-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. 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.

Bonds

FGN Bonds

WEDNESDAY, OCTOBER 26, 2016Issuer Rating/Agency NEW TELEGRAPH

Description

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

Stories: Chris Ugwu

Rating/Agency

Issuer

he Nigerian Stock ExFMBN change (NSE) yesterTOTAL MARKET day CAPITALISATION continued for the Sub-National Bonds day to witness third A+/Agusto; A+/GCR LAGOS sell pressure, as bargain huntA-/Agusto *BAYELSA A-/Agusto EDO ers remained on the sidelines. A/Agusto; A+/GCR *DELTA A-/Agusto; A-/GCR *NIGER Consequently, the overall A/Agusto‡ ; A-/GCR† *EKITI A-/Agusto *NIGER performance measures, NSE A-/Agusto; A-/GCR *ONDO BBB+/Agusto; A-/GCR *GOMBE ASI and market capitalisation, Aa-/Agusto; AA-/GCR LAGOS BBB-/Agusto; BBB+/GCR† fell by 1.73 per cent. *OSUN Aa-/Agusto; AA-/GCR LAGOS Bbb+/Agusto; BBB+/DataPro KOGI This was due to sustained A/Agusto‡ *EKITI A-/GCR *NASARAWA profit taking by bargain A-/Agusto *BAUCHI A-/Agusto *OYO hunters in the wake of cautious Bbb-/Agusto *BENUE Bbb+/Agusto *PLATEAU optimism that had pervaded Bbb+/Agusto KOGI A-/GCR RIVER the market following*CROSS upset in Agency Bonds

Nil

TOTAL OUTSTANDING VALUE

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

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

the financial sector. Accordingly, the All-Share Index shed 476.43 basis points or 1.73 per cent to close at 27,098.52 index points as against 27,574.95 recorded Description the previous day, while market 17.25 FMB II 03-APR-2017 capitalisation of equities depreciated by N164 billion or 1.73 per cent to close lower 10.00 LAGOS 19-APR-2017 as against at N9.307 trillion 13.75 BAYELSA 30-JUN-2017 14.00trillion. EDO 31-DEC-2017 N9.471 14.00 DELTA 30-SEP-2018 14.00 NIGER II 4-OCT-2018 Meanwhile, a turnover of 14.50 EKITI 09-DEC-2018 113.514.00 million shares in 2,435 NIGER III 12-DEC-2018 ONDO 14-FEB-2019 deals15.50 was recorded 15.50 GOMBE 02-OCT-2019 in the day’s 14.50 LAGOS 22-NOV-2019 trading. 14.75 OSUN 12-DEC-2019 13.50 LAGOS 27-NOV-2020 The sub-sector of 15.00 banking KOGI 31-DEC-2020 14.50 EKITI II 31-DEC-2020 the financial services 15.00 NASARAWA 06-JAN-2021 segment 15.50 BAUCHI 9-DEC-2021 was the most active (measured 16.50 OYO 16-FEB-2022 16.50 BENUE 27-FEB-2022 by turnover volume) with 37.6 17.50 PLATEAU 30-MAR-2022 17.00 KOGI II 31-MAR-2022 million shares exchanged by 17.00 CROSS RIVER 27-MAY-2022 investors in 620 deals.

FCMB announces Q3 interim audit Corporate Bonds

Nil Nil Nil A/GCR

Coupon (%)

BUSINESS |FINANCIAL MARKET NEWS Price

Outstanding Value (₦’bn)

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 15.75 LA CASERA 18-OCT-2018

***LCRM

UBA *LA CASERA

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 20.00 100.00 300.00 351.30 233.90 606.43 225.59 605.31 719.99 468.02 75.00 150.00 200.00 591.57 1075.92 352.00

Volume in the sub-sector was largely driven by activities in the shares of Access Bank 6,555.16 Plc and UBA Plc. 5,896.55 Also, other premium subsector, boosted Issueby Datethe activities Coupon (%) in the shares of FBNH Plc and Zenith Bank03-Apr-12 Plc followed 17.25 with a turnover of 24.7 million shares in 385 deals. 19-Apr-10 10.00 The number of gainers at 30-Jun-10 13.75 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

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

#{r}

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

TTM (Yrs)

Bid Yield (%)

# #

#{r}

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

0.50 0.75 0.85 1.59 2.67 2.99 3.30 4.72 5.26 7.38 9.24 12.09 12.57 13.07 13.74 17.73 19.39

17.73 19.33 19.94 18.66 14.61 14.85 15.07 14.91 14.85 15.03 15.43 15.32 15.31 15.29 15.26 15.11 15.48

the close of trading session was 11, while decliners closed at 27. Further analysis of the day’s trading showed that Presco Nigeria Plc topped the Outstanding Avg. Life/TTM gainers’ tableMaturity withDate 5.09 per cent (Yrs) Value (₦’bn) to close at N42.30 per share, 0.60 03-Apr-17 0.26 while Wema Bank Plc followed 0.60 with0.60 4.92 per cent to close at 64 kobo per share. Unity Bank Plc 57.00 19-Apr-17 0.48 gained 4.84 per30-Jun-17 cent to close at 11.33 0.44 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

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

1.18 1.22 1.23 1.19 1.20 1.38 1.80 3.07 1.76 4.09 4.18 2.41 2.44 2.99 3.20 3.23 3.34 6.46 3.32

he Initiates Plc, a waste management company serving various sectors of the Nigerian economy was yesterday listed on the Alternative Securities Exchange Market (ASEM) board of the Nigerian Stock Exchange (NSE). 0.00/16.00 A total 09-Dec-11 of 889,981, 552 20-Apr-12 0.00/16.50 06-Jul-12 0.00/16.50 ordinary shares of 50 kobo 30-Sep-10 13.00 18-Oct-13 15.75 each were listed per 30-Nov-12 at N0.85 18.00 09-Apr-11 16.00 share by introduction. Planet 09-Sep-11 18.00 09-Sep-11 Capital Limited, acted16.00 as 30-Sep-11 14.00 17-Feb-12 18.00 the Lead Financial adviser 01-Apr-14 16.00 04-Dec-15 15.50 and the Designated Adviser 15-Jun-16 14.25 while Partnership Securities 26-Oct-15 16.00 06-Nov-15 15.00 Limited, acted as joint adviser 14-Nov-13 15.75 15-Jun-16 14.75 on the transaction. 20-Nov-14 14.25 30-Dec-14 16.45 Speaking13-May-15 at the listing 16.48 16.29 ceremony, 30-Sep-14 the Managing 30-Sep-14 13.25 29-Jul-15 14.90 Director/Chief Executive Officer of The Initiates Plc,

Mr. Reuben Ossai, said listing by introduction of the company is part of the management’s strategic plan to promote inclusive growth, transparency and price discovery. According to him, in order 422.14 to 397.73 ensure that the business is not exposed to0.12 the 112.22 overly 08-Dec-16 116.70 19-Apr-17 0.48 effects crude prices, 66.49 of falling 06-Jul-17 0.70 0.93 the 20.00 company 30-Sep-17 has diversified 1.20 18-Oct-18 1.23 0.36 30-Nov-17 0.61 their operations to provide 2.70 09-Apr-18 0.95 1.45 09-Sep-18 1.12 incineration services, leading 0.40 09-Sep-18 1.12 30-Sep-18 1.93 to a35.00 remarkable improvement 0.23 17-Feb-19 1.32 in 3.75 revenue 01-Apr-19 base for 1.43 the 9.76 04-Dec-20 2.55 company and reported in their 26.39 15-Jun-19 2.64 10.00 26-Oct-22 3.72 most recent half year numbers. 23.19 06-Nov-20 4.03 2.05 14-Nov-20 4.05 He noted that 21st Century 33.61 15-Jun-21 4.64 26.00 20-Nov-21 5.07 Nigeria is expected to witness 30.50 30-Dec-21 5.18 30.00 13-May-22 5.55 technolo gical g rowth, 0.10 30-Sep-24 7.93 15.44 30-Sep-24 7.93 increased urbanisation, private 7.82 29-Jul-30 9.15 sector controlled economy and 575.36 554.72 environmental awareness.

Bid Price

Offer Price

17.40 19.10 19.72 18.53 14.54 14.78 14.95 14.82 14.77 14.96 15.36 15.27 15.24 15.21 15.19 15.05 15.42

98.78 93.56 92.05 89.39 102.93 81.56 101.13 98.58 105.41 96.31 85.75 98.20 84.46 62.06 70.05 81.84 81.18

98.93 93.71 92.20 89.54 103.08 81.71 101.43 98.88 105.71 96.61 86.05 98.50 84.76 62.36 70.35 82.14 81.48

22.60 21.06 21.02 23.99 23.71 23.30 19.93 16.89 19.05 16.28 18.73 18.12 16.50 16.37 18.94 15.94 17.50 16.66 18.01

91.40 92.84 92.83 90.94 90.67 91.43 93.74 94.41 93.92 91.89 89.43 93.42 97.14 98.04 94.55 101.25 99.95 101.14 97.64

19.48

91.84

65 kobo per share. On the flip side, Ashaka Cement Plc led the losers’ chart 6510.155565 with a drop of 9.65 per cent to close at N12.26 per share. AG Risk Valuation Leventis Plc followed with Modelled Price a Premium Yield (%) (%) loss of 4.94 per cent each to 2.94 18.49 close at 77 kobo per99.64share, while Vitafoam Plc dropped by 4.92 per cent to close at N2.51 1.00 96.20 per share. 18.54 5.71 22.86 96.34 #

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

“These changes will be accompanied with increased waste yield and complexity, more public demand for environmental protection and waste management services. These changes stress the need for the revision and 1.00 16.40 implementation 99.83 21.09 97.96 of3.55 laws and 5.25environmental 24.21 95.19 1.88 22.33 92.48 policies that the 4.42 24.46 will improve 91.44 1.88 20.29 commercial value of99.52 waste 3.15 23.76 93.78 6.35 26.80 management services.92.12 Hence, 1.00 21.45 94.90 1.17 18.57involved 92.81 companies in the 6.11 25.82 91.88 3.28 22.55 92.53 waste management industry 3.55 18.77 93.77 shall have huge 95.97 market 1.00 16.15 a 2.77 17.79 to4.47serve, 19.46 making it 95.51 a very 87.92 1.00 15.98 99.30 profitable venture over the 1.00 15.92 96.22 2.51 17.39 89.67 long term. The Initiates Plc 1.00 15.88 101.90 1.00 15.88 102.15 seeks to develop these processes 1.00 16.15 100.57 1.00 remain 16.15 87.24 and a key player in the 1.00 16.39 93.42 waste management industry,” he said.

Presco records 98% growth in Q3 PAT

A-/Agusto A-/Agusto

TOTAL OUTSTANDING VALUE

FSDH MERCHANT BANK LIMITED FSDH MERCHANT BANK LIMITED

FSDH CP I 28-NOV-16

30-Aug-16

FMDQ Daily Quotations List

FSDH CP II 26-MAY-17

30-Aug-16

8.63

10-Oct-20

2.28

8.63 7.93

by 48.39 per cent from N8.044 12.00 11-Feb-18 1.30 billion in 2015 to N11.937 billion 12.95 01-Feb-21 2.52 in 2016. 24.95 23.17 Presco reported a 0.36 per Outstanding Value Yield (%) cent growthMaturity in Date profitBid after ($’mm) tax for the first quarter ended 500.00 2016 with 28-Jan-21 6.83 March a profit after 12-Jul-18 4.75 at tax 500.00 of tax of N1.399 billion 12-Jul-23 6.93 the 500.00 first quarter of the year 1,500.00 from N1.394 billion recorded in 1,486.79 2015, depicting for a marginal increase of 0.36 per cent. 5.88 350.00 25-Jul-17 300.00 02-May-18 Revenue grew by 47.7418.57 per 400.00 08-Nov-18 6.46 22-Apr-19 cent500.00 from N2.153 billion in7.42 2015 200.00 21-May-19 22.10 to N3.181 billion in 2016. 13.99 300.00 07-Aug-20 400.00 24-Jun-21 Presco reported its11.33 Q4 450.00 23-Jul-21 14.70 250.00 14-Aug-21 12.23 2015 results, showing topline 3,150.00 growth 2,819.59of 8.5 per cent Year-onYear (Y/Y) to N2.4billion. Outstanding DTM Maturity Date Value (₦’bn) The bottom line had showed

Offer Yield (%)

The Initiates Plc shares admitted on ASEM

(YoY), N12.4 billion for 18.00from C&I LEASING 30-NOV-2017 *C & I LEASING MPR+7.00 DANA 9-APR-2018 he Management*DANA of FCMB the same period prior year. The MPR+7.00 TOWER 9-SEP-2018 *TOWER MPR+5.25 TOWER 9-SEP-2018 Group Plc has*TOWER notified increase was mainly driven by 14.00 UBA II 30-SEP-2018 A+/Agusto; A/GCR UBA MPR+5.00 CHELLARAMS II 17-FEB-2019 BBB-/DataPro†; BB/GCR the investment commu*CHELLARAMS a 367 per cent YoY increase in 16.00 DANA II 1-APR-2019 Nil *DANA 15.50 TRANSCORP 4-DEC-2020 Bbb/Agusto; A-/GCR nity that that its nine-months *TRANSCORP HOTELSFX PLC income, from N3.9 billion 14.25 LAFARGE 15-JUN-2019 AA-/GCR LAFARGE AFRICA PLC ended 30A-/GCR September 2016 (3Q16) PLC the 16.00 TRANSCORP 26-OCT-2022 Bbb/Agusto; half-year ended June *TRANSCORP HOTELSfor 15.00 FCMB 6-NOV-2020 A-/GCR FCMB results will be released before 2015,15.75 toNAHCO N18.3 billion for the II 14-NOV-2020 A+/Agusto; A-/GCR NAHCO 14.75 LAFARGE 15-JUN-2021 AA-/GCR LAFARGE AFRICA PLC the end of November (2016), half-year ended June 2016. 14.25 FCMB I 20-NOV-2021 BBB/GCR *FCMB 16.45 UBA I 30-DEC-2021 A/GCR UBA due to the bank’s interim audit. The lender posted profit 16.48 FIDELITY 13-MAY-2022 BBB/GCR FIDELITY 182D T.bills+1.20 STANBIC IA 30-SEP-2024 A/GCR In the statement STANBIC obtained IBTC before tax (PBT) of N16.3 13.25 STANBIC IB 30-SEP-2024 A/GCR STANBIC IBTC 14.90 NMRC AAA/GCR from NSE website and billion *NMRC for29-JUL-2030 the six-months TOTAL OUTSTANDING VALUE signed by the Head, Investor ended June 2016, up 70 per TOTAL MARKET CAPITALISATION Relations, FCMB Group, Ori cent from N9.6 billion for the Sukuk Rewane, said the :*OSUN “FCMB six-months ended June 2015. 10-Oct-13 14.75 BBB-/Agusto 14.75 OSUN II 10-OCT-2020 TOTAL OUTSTANDING VALUEto inform Group would like Managing Director of TOTAL MARKET CAPITALISATION the investment community, FCMB Group, Mr. Peter Supranational Bond of the commencement of the Obaseki resco Plc, an integrated commenting on the 10.20 IFC 11-FEB-2018 AAA/S&P 11-Feb-13 10.20 IFC 11.25 AFDB 1-FEB-2021 interim audit of First City results agro-industrial estabAaa/Moody's; AAA/S&P 10-Jul-14 11.25 said: “Our group’s *AfDB TOTAL OUTSTANDING VALUE Monument Bank Ltd as at 30 half year 2016 profit before tax lishment with oil palm TOTAL MARKET CAPITALISATION September 2016, by KPMG, the came in at N16.3 billion, up 70 plantations has reported a 98 Description Issuer Issue Date Coupon (%) bank’sRating/Agency auditors, which should in profit after per cent on same period in 2015 per cent growth FGN Eurobonds pave way for the release of the and driven largely by treasury tax for the nine months ended 6.75 JAN 28, 2021 07-Oct-11 6.75 BB-/Fitch; B+/S&P 3Q16 earnings results of FCMB upsides, cost optimisation and September 30, 2016. BB-/Fitch; FGN 5.13 JUL 12, 2018 12-Jul-13 5.13 BB-/S&P Group Plc, on the Nigerian In a filing with the Nigerian sustained momentum in the BB-/Fitch; 6.38 JUL 12, 2023 12-Jul-13 6.38 BB-/S&P Exchange, before the end Stock Stock Exchange (NSE), Presco commercial and retail banking TOTAL OUTSTANDING VALUE of November 2016”. recorded a profit after tax of group. TOTAL MARKET CAPITALISATION FCMB reported a gross tax of N6.800 billion at the “In the second quarter, Corporate Eurobonds 7.25 JUL 25, 2017 25-Jul-12 B+/S&P ACCESS BANK PLC revenue of N88.3 billion for third quarter of the year 7.25 from revaluation gains 6.88 onMAY realised 09, 2018 09-May-13 6.88 B/Fitch; B/S&P FIDELITY BANK PLC the half-year ended June N3.434 billion recorded in 6.00 2015, 6.00 NOV 08, 2018 08-Nov-13 foreign currency investments, B+/Fitch; B+/S&P GTBANK 2016, PLC 6.25 APR 22, 2019 22-Apr-14 6.25 BB-/S&P ZENITH BANK PLC aB+/Fitch; 14 per cent increase from at group-level, translated accounting for an increase of 8.75 May 21, 2019 to 21-May-14 8.75 B/Fitch; B/S&P DIAMOND BANK PLC 8.25 AUG 07, 2020 07-Aug-13 8.25 B-/Fitch; B/S&P FIRST BANK PLC N77.4 billion for the same 98 per cent. slightly over N2bn in revenue. 9.25/6M USD LIBOR+7.677 JUN 24, 2021 24-Jun-14 9.25 B-/Fitch; B/S&P ACCESS BANK PLC II 8.00/2Y USD SWAP+6.488 JUL 23 2021 23-Jul-14 8.00 B-/Fitch; B/S&P FIRSTposted BANK LTD period prior year. It also Profit before tax stood at The investment banking 8.75 AUG 14, 2021 14-Aug-14 8.75 B-/S&P ECOBANK NIG. LTD non-interest income TOTAL OUTSTANDING VALUE of N26.0 business continued to face N9.714 billion from N4.735 TOTAL MARKET CAPITALISATION billion, for the six-months challenges arising from the billion posted a year earlier, endedRating/Agency June 2016, an increase a growth of sustained lull in both equity representing Description Issuer Issue Date Yield @ Issue (%) of 110 per cent Year-on-Year 105.15, while revenue grew and debt capital markets. Commercial Papers Bbb+/Agusto†; BBB+/GCR† BBB-/GCR Nil

Maturity Date

Stock market falls by N164bn

BEARISH Sell pressure dominated market activities, as bargain hunters retreated

Issue Date

3.37

losses of –N610 million and – 1.00 17.96 91.31 N1.1 billion on both PBT and 1.00 14.05 94.31 PAT respectively. The fall in profits was as a result of a Offer Yield (%) margin Bid Price contraction Offer Price gross of Prices & Yields -5,587bps y/y to 80.1 per cent 6.58 99.71 billion 100.62 and a -N1.2 loss on 4.30 100.60 101.35 biological assets revaluation. 6.76 97.93 grew Income97.05 tax expense significantly to N593 million from N27 million in the prior year, worsening the loss after 4.49 100.97 101.99 17.39 85.00 86.38 tax. Sequentially , sales 100.62 declined 5.67 99.13 by6.79-28.4 per97.40 cent q/q. 98.78 20.54 74.83 77.33 Furthermore, sales 84.99 of N10.4 13.29 83.18 11.33 92.27 billion grew by 14.3 per 92.27 cent y/y 14.35 77.17 78.17 11.76 86.63 while PBT84.88 and PAT declined by -46.7 per cent y/y and -55.0 per cent Risk y/y to N4.2 billion and Valuation Discount Rate (%) Premium Yield (%) N2.3 (%) billion respectively. #

16.64

0.81

28-Nov-16

1.00

16.40

21.89

14.17

26-May-17

213

2.49

20.74

16.16

25-Oct-16

18.50

14.98

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 FIXINGS Money Market 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, Foreign Exchange (Spot & Forwards) DTM Maturity Discount (%) Discount (%) Bid Yield (%) Tenor Rate (%) NIBOR performance or fitness for a particular purpose of any of the Information,Bid neither do we accept liabilityOffer for the results of any action taken on the basis of the Information. 9 3-Nov-16 18.18 17.93 18.26

**TREASURY BILLS^We or investment advice. 23 37 44 51 65 72 86 Rating/Agency 100 114 121 128 135 142 149 156 163 170 177 191 198 212 219 233 247 254 261 268 275 282 289 296 303 310 324 331

17-Nov-16 1-Dec-16 8-Dec-16 15-Dec-16 29-Dec-16 5-Jan-17 19-Jan-17 Issuer 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

FGN Bonds

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

14.79 17.25 17.04 16.17 16.30 17.89 14.46 Description 16.44 16.81 15.10 27-APR-201716.94 9.85 27-JUL-2017 18.02 17.40 9.35 31-AUG-2017 16.80 10.70 30-MAY-201816.19 17.37 ^16.00 29-JUN-2019 18.39 7.00 23-OCT-2019 16.29 16.17 ^15.54 13-FEB-2020 18.15 14.50 15-JUL-2021 16.86 ^16.39 27-JAN-202217.76 18.30 ^14.20 14-MAR-2024 17.87 ^12.50 22-JAN-202617.84 15.00 28-NOV-202818.25 17.66 12.49 22-MAY-202917.65 8.50 20-NOV-2029 17.88 ^10.00 23-JUL-203018.41 18.37 ^12.1493 18-JUL-2034 18.40 ^12.40 18-MAR-2036 18.41 18.42 18.45 18.46

14.54 17.00 16.79 15.92 16.05 17.64 14.21 Issue Date 16.19 16.56 27-Apr-12 16.69 17.77 27-Jul-07 17.15 31-Aug-07 16.55 15.94 30-May-08 17.12 29-Jun-12 18.14 23-Oct-09 16.04 15.92 13-Feb-15 17.90 13-Jul-16 16.61 17.51 27-Jan-12 18.05 14-Mar-14 17.62 22-Jan-16 17.59 18.00 28-Nov-08 17.41 22-May-09 17.40 17.63 20-Nov-09 18.16 23-Jul-10 18.12 18-Jul-14 18.15 18-Mar-16 18.16 18.17 18.20 18.21

Description

14.92

17.56 Bonds

17.40 16.54 16.78 18.55 14.97 (%) Coupon 17.22 17.74 15.10 17.95 19.24 9.85 18.60 9.35 17.97 17.34 10.70 18.76 16.00 20.03 7.00 17.63 17.55 15.54 20.06 14.50 18.56 19.80 16.39 20.56 14.20 20.17 12.50 20.29 20.90 15.00 20.21 12.49 20.28 20.66 8.50 21.46 10.00 21.49 12.15 21.63 12.4000 21.73 21.83 22.06 22.16

Tenor O/N 1M 3M 6M

Rate (%) 11.8750 18.2397 19.7521 21.6925

Outstanding Maturity Date Value (₦’bn) NITTY 480.13 Tenor 1M 20.00 2M 100.00 3M 6M 300.00 9M 351.30 12M

27-Apr-17 Rate (%) 16.3828 27-Jul-17 16.6288 31-Aug-17 16.6434 18.1562 30-May-18 20.4576 29-Jun-19 22.4246 233.90 23-Oct-19 606.43 13-Feb-20 NIFEX 225.59 15-Jul-21 Current Price ($/N) 605.31 27-Jan-22 NIFEX Rate 320.0000 719.99 14-Mar-24 468.02 22-Jan-26 75.00 28-Nov-28 150.00 22-May-29 200.00 20-Nov-29 591.57 23-Jul-30 1075.92 18-Jul-34 352.00 18-Mar-36

OBB

10.67

Tenor

O/N

11.58

Spot 7D 14D 1M Offer2M Yield 3M 6M (%) 1Y

Tenor Call

REPO

TTM1M (Yrs) 3M 6M

Rate (%) 12.00

14.00 (%) Bid Yield 14.50 15.00

0.50 17.73 17.40 0.75 19.33 19.10 NOTE: 0.85 19.94 19.72 :Benchmarks * :Amortising 1.59 Bond 18.66 18.53 µ :Convertible Bond 2.67 14.61 14.54 AMCON: Asset Management Corporation of Nigeria 2.99 Government of14.85 14.78 FGN: Federal Nigeria FMBN: Federal of Nigeria 3.30 Mortgage Bank 15.07 14.95 IFC: International Finance Corporation 4.72 Contractors Receivables 14.91 14.82 LCRM: Local Management NAHCO: Nigerian Aviation Handling Company 5.26 14.85 14.77 O/N: Overnight 7.38 15.03 14.96 UPDC: UAC Property Development Company 9.24 Africa Portland 15.43 15.36 WAPCO:West Cement Company 12.09 15.32 15.27 12.57 15.31 15.24 13.07 15.29 15.21 13.74 15.26 15.19 17.73 15.11 15.05 19.39 15.48 15.42

6,555.16

Bid Price

305.00 315.62 Price 317.37 319.69 324.01 326.61Offer 333.42 348.14

Price

98.78 98.93 93.56 93.71 92.05 92.20 NA :Not Applicable ^ : Market 89.39Prices 89.54 # : Floating Rate Bond 102.93 103.08 ***: Deferred coupon bonds 81.56 81.71 DTM: Days-To-Maturity TTM: 101.13 Term-To-Maturity 101.43 ‡ : Bond rating under review 98.58 98.88 †: Bond rating expired N/A :Not Available 105.41 105.71 {r} :Issuer in receivership 96.31 96.61 NGC: Nigeria-German Company 85.75 Bank for Africa 86.05 UBA: United 98.20 98.50 84.46 84.76 62.06 62.36 70.05 70.35 81.84 82.14 81.18 81.48

6510.155565

5,896.55

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

0.26

2.94

18.49

99.64

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

Agency Bonds

Closing Rate ($/N)

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

Nil

TOTAL OUTSTANDING VALUE

FMBN

17.25 FMB II 03-APR-2017

FMDQ FGN BOND INDEX

TOTAL MARKET CAPITALISATION 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‡

Modified Duration Buckets

<3 LAGOS 3<5 *BAYELSA >5 EDO Market

*DELTA *NIGER *EKITI *NIGER *ONDO *GOMBE LAGOS *OSUN LAGOS KOGI *EKITI

Porfolio Market Value (₦’bn)

959.41 1,331.45 1,294.92 3,585.79

Total Outstanding Volume (₦’bn)

957.73 1,325.30 1,667.49 3,950.52

Weighting by Outstanding Volume

24.24 19-Apr-10 33.55 30-Jun-10 42.21 31-Dec-10 100.00 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

Weighting by Mkt Value

10.00 26.76 13.75 37.13 36.11 14.00 100.00 14.00 14.00 14.50 14.00 15.50 15.50 14.50 14.75 13.50 15.00 14.50 15.00

0.60 0.60

Bucket Weighting

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

0.24 0.34 0.42 1.00

% Exposure_ Mod_Duration

12.56 19-Apr-17 29.62 30-Jun-17 57.82 31-Dec-17 100.00 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

Implied Yield

15.59 0.48 14.96 0.44 15.16 1.18 15.15 1.22 1.23 1.19 1.20 1.38 1.80 3.07 1.76 4.09 4.18 2.41 2.44

Implied Portfolio Price

136.3020 1.00 150.2606 5.71 110.1092 2.39 129.9290

1.00 1.00 3.82 3.56 3.82 2.02 2.01 1.00 1.30 3.76 2.53 1.00

INDEX

1,240.03 18.54 1,302.67 22.86 1,327.48 22.60 1,237.26

21.06 21.02 23.99 23.71 23.30 19.93 16.89 19.05 16.28 18.73 18.12 16.50

YTD Return (%)

96.2011.9315 96.3428.6496 31.8231 91.40 17.2557 92.84 92.83 90.94 90.67 91.43 93.74 94.41 93.92 91.89 89.43 93.42 97.14

NEWS News|SOUTH-WEST

WEDNESDAY, oCTOBER 26, 2016 NEW TELEGRAPH

Ambode inaugurates N500m Disability Fund, to employ 25,000 sweepers Muritala Ayinla

agos Governor, Mr. Akinwunmi Ambode yesterday inaugurated the Governing Board of the Office for Disability Affairs to manage the N500 million Trust Fund earmarked to help people living with disability in the State to realise their dreams and live a more comfortable life. Besides, Governor Ambode said that notwithstanding the N500million Trust Fund, people

living with disability had eligibility status to access N25billion Employment Trust Fund (ETF). Speaking while inaugurating the Board, Ambode said it was in fulfillment of his administration’s promise to ensure that the affairs of people living with disability iwould be managed by people passionate enough to show that there was ability in disability. This, he described as another milestone in his commitment to run an all inclusive govern-

66.1m

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

ment, saying that the Board would on behalf of the government, manage the affairs of people living with disability by issuing guidelines for their education, social development and welfare. Ambode said: “The Board will also manage the Disability Trust Fund. In fulfillment of the promise I made on May 29th, 2016, this Fund has in its kitty today N500m with a marching order to solicit from the public and other charitable organisations, ad-

187,155

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

ditional support for its objectives. “We could not have done otherwise, given the array of people with disabilities, who possess requisite qualification, experience and character. “In addition, we believe in their ability to manage the Disability Trust Fund more judiciously because they have a more personal understanding of the needs and situation of our less privileged people. This fund will give our brothers and sisters a needed

0.54%

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

boost to make a livelihood for themselves and a chance to fulfill their potentials. “It is my belief that the fund should provide infrastructure and facilities required by needed parties to also complement the efforts of our administration.” Meanwhile, Governor Akinwunmi Ambode-led administration said it had concluded plans to employ 25,000 additional street sweepers to clean the streets, major roads and bridges in the state

Ogun monarch urges youths to embrace agriculture Kunle Olayeni Abeokuta

he Olu of Ilaro and Paramount Ruler of Yewaland, Oba Kehinde Olugbenle, has urged youths to embrace agriculture in Ogun state as a profitable enterprise in the face of unavailable white collar jobs in the country. Oba Olugbenle, who doubles as Chairman, Ogun State Council of Obas, said embracing agriculture would reduce crime and criminality in the society. He said this yesterday while receiving a delegation of Poultry Association of Nigeria (PAN) at his palace in Ilaro, Yewa

L-R: Attorney General & Commissioner for Justice, Mr. Adeniji Kazeem; Lagos State Governor, Mr. Akinwunmi Ambode and Commissioner for Youth and Social development, Mrs. Uzamat Akinbile-Yusuf, during inauguration of Disability Fund’s Governing Board by Governor Ambode in Lagos… yesterday

just as it said efforts were ongoing to embark on a technology-driven waste management model to manage waste across the state. Besides, it said that it had terminated sewage plant project located at Odo-Iyaloro near Maryland area of the state while the Olusosun dump site at Ojota will be relocated to avert outbreak of epidemic arising from pollution and other environmental challenges being posed by their locations.

South Local Government as part of activities to mark the “World Egg Day” of the association. The monarch called on government to provide enabling environment and strengthen existing infrastructure and policies to encourage the youths in what he described as “patriotic and rewarding enterprise.” He said: “Poultry business is a viable business that brings about good returns and profits on daily basis when compared to office job many young graduates are after today. “It’s a venture that can guarantee one thousand and one jobs for our youths, both graduates and non-graduates.”

Fayose raises the alarm over FG’s support for Fulani herdsmen Monarch dares Deji of Akure Sulaiman Salawudeen Ado-Ekiti

kiti State Governor, Mr. Ayodele Fayose yesterday raised the alarm that the Federal Government was backing the umbrella body of the Fulani herdsmen, Miyeti Allah Cattle Breeders Association of Nigeria (MACBAN) on its plan to invade Ekiti to wreak mayhem. He however wanrned of dire consequences should there be any attack on the state by the rampaging

herdsmen as such would be met with insisting that such would be disastrous consequences. MACBAN had in a statement threatened reprisals against government and the people of the Ekiti State on an alleged killing of five cattle belonging to its members by the newly inaugurated Ekiti Grazing Enforcement Marshal (EGEM). MACBAN’s spokesman, Baba Othman Ngelzarma said: “Fayose unleashed the marshals against our members

whose herds of cattle had gone to a stream at Agon bridge on Federal Polytechnic Road between the time of 2:00 p.m. and 2:30 p.m. to quench their thirst on Friday, October 21,” claiming “the vigilance group shot five cows and carted away the meat, but the herdsman was able to flee with the rest of his cattle.” However, Fayose said: “Four days after this threat was issued against the government and the people of Ekiti State by the Miyetti Allah, the federal govern-

ment is yet to act in any manner that will disabuse the minds of Ekiti people, who believe that the federal government is in support of the threat. “The silence of the federal government has no doubt further confirmed the insinuation that there is plot to give tacit support to the herdsmen to invade some border towns and villages in Ekiti State and cause chaos in the State so as to justify the evil agenda of declaration of a state of emergency on the State.

over suspension Babatope Okeowo Akure

hat appeared a royal rumble was yesterday let loose in Akure, the Ondo State capital, as the Deji of Akure, Oba Aladetoyinbo Ogunlade Aladelusi removed a monarch, Oba Samuel Elewuji Fadahunsi from his stool. Until his removal, Oba Fadahunsi was the Onisinigbo of Isinigbo in the Akure North Local Government area of the State.

While Deji of Akure said he had removed Fadahunsi as the Olu of Isinigbo with immediate effect, the embattled monarch said Oba Adelusi had no traditional or legal right to remove him from the throne. In a statement signed by the Chief Press Secretary to the Deji, Mr Michael Adeyeye said the removal of Fadahunsi was predicted on his “defiant attitude, insubordination to constituted authorities and the people of his community.”

Tension as Ogun teachers face sack over N5m donation Committee on 5th Africa’s largest Kunle Olayeni Abeokuta

here is palpable tension among striking civil servants in Ogun State following alleged moves by the state government to sack about 10 teachers, including the chairman of Nigeria Union of Teachers (NUT), Comrade Dare Ilekoya. Ilekoya and the affected teachers, who are mostly union leaders, had already faced a panel set up by the Governor Ibikunle Amosun-led admin-

istration to probe their alleged “open romance” with opposition politicians. The development was fallout of the 2016 World Teachers’ Day celebration held at the NUT hall in Abeokuta on October 5. New Telegraph gathered that a N5million donation by a Senator representing Lagos West, Solomon Olamilekan Adeola, for the union to organise the celebration irked the state government. Adeola, popularly called Yayi, is a member of the All Progressives

Congress (APC) and widely believed to be eyeing the governorship of Ogun State in 2019. Apart from the fact that the Senator also donated a Sport Utility Vehicle for the teachers to commemorate the event, the presence of notable chieftains of opposition parties, including Peoples Democratic Party (PDP) and the Unity Party of Nigeria (UPN) at the ceremony, upset the state government. It was learnt that the government expressed reservation about the ac-

tions of the teachers and vowed to penalise such “misconduct” to serve as a deterrent. Sources said a panel was consequently constituted, comprising of senior officials of the Civil Service Commission, Teaching Service Commission and Bureau of Establishment and Training, among others, to investigate the teachers. The panel sat in Abeokuta on Monday and grilled the unionists for several hours, it was gathered.

economy underway – Lagos Muritala Ayinla

agos State Governor, Mr. Akinwunmi Ambode yesterday said that his administration has concluded plans to inaugurate an Economic Management Team following the emergence of the state as the fifth largest economy in Africa. Governor Ambode said that the committee would comprise distinguished individuals from both the private and the public sec-

tor to manage and scale up successes recorded in the state’s economy. Speaking when he received a delegation from the Nigerian-British Chamber of Commerce at the Lagos House in Ikeja, the governor described the emergence of Lagos as very instructive, saying his government would explore synergy with private sector with a view to catapulting Lagos into a true global city-state in the true sense of the word.

News|SOUTH-EAST

WEDNESDAY, OCTOBER 26, 2016 NEW TELEGRAPH

IPOB rejects new judge for Kanu’s trial Charles Onyekwere ENUGU

he leadership of the Indigenous People of Biafra (IPOB) has alleged that President Muhammadu Buhari has hatched plans to undo their detained leader, Nnamdi Kanu. In a statement signed by their spokesman, Emma Powerful, IPOB drew the

attention of the world to the appointment of Justice Binta Nyako, whom they accused of being Buhari’s sister, to handle the trial of Nnamdi Kanu as a calculated attempt to find him guilty as charged. The group stated that Justice Nyako would be compromised and should not handle the case. The statement reads in part: “The indigenous People of Biafra (IPOB) worldwide and the Direc-

torate of State (DOS) has raised alarm over the assignment of the new trial judge for Nnamdi Kanu case by the Chief Justice of Nigeria. “The appointment of Justice Nyako as the trial judge for mazi Nnamdi Kanu’s case was masterminded by the government of the president Muhammadu Buhari. “The appointment came after the harassment and the intimidation of the

judges who were working tirelessly to address the country’s injustice perpetrated by the government of the day in Nigeria. “It was observed that the trial judge, Justice Hajiya Binta F.M Nyako was born on 14th day of May 1959. She is a sister to the President of Nigeria, Gen Muhammadu Buhari; her state of origin is Katsina State and her local government is Rimi. She became a judge on the 28th of July

2000 and married to one man in Taraba State. “The government of the contraption called Nigeria assigned her to make sure she jails mazi Nnamdi Kanu who committed no crime against anybody in Nigeria; but we want to ask if the new trial judge Binta Nyako will jail people who did not commit any crime against the people. “Again, the new trial judge, Binta Nyako Ha-

jiya was mandated to jail the leader of the Indigenous People of Biafra, mazi Nnamdi Kanu, in that he is saying the truth concerning the restoration of God’s nation Biafra.” According to the statement, “Binta would have been one of the arrested judges over the $2m she had allegedly taken from Jide Omokore to grant scandalous bail to the oil magnate who stole over $6b from Nigeria on the 8th day of July 2016, but was spared on one condition (which is to jail Nnamdi Kanu).”

Oye’s suspension followed due process, says Acting Chair Charles Onyekwere Anambra State Governor, Willie Obiano and his Akwa Ibom State counterpart, Emmanuel Udom, at the National Economic Council Meeting in Abuja…yesterday PHOTO: TIMOTHY IKUOMENISAN.

Again, workers ground activities at FMC Owerri Steve Uzoechi OWERRI

he crises rocking the Federal Medical Centre (FMC) Owerri, over the reinstatement of the embattled Medical Director of the Centre, Dr. Angela Uwakwem, yesterday deepened as workers, under the aegis of Joint Health Sectors Union (JOHESU), locked the hospital in a protest, demanding the immediate removal of Uwakwem.

The protesting workers bore placards with various inscriptions such as, ‘We stand against corruption’, ‘Uwakwem should resign and face corruption charges against her’, ‘FMC Owerri is not Uwakwem’s personal estate’, ‘Mr. President save FMC Owerri from Uwakwem and her cohorts’ and ‘Is Adewole a Minister of Health or Hell’ among others. The National President of the union, Bobelemoye Josiah, who led

Abia CJ tasks Ikpeazu on judges’ accommodation Igbeaku Orji UMUAHIA

he Chief Judge (CJ) of Abia State, Justice Theresa Uzoamaka Uzokwe, has appealed to Governor Okezie Ikpeazu to make the provision of official accommodation and court halls for judges in the state a priority. Speaking at the 2016/2017 New Legal year in Umuahia, the Abia State capital, the Chief Judge said that a situation in which judges and magistrates would share or take turns to use court halls was counter-productive. The development, according to her, was having

adverse effect on judges’ productivity. She said that the official residence provided for her as Chief Judge was in a dilapidated condition, saying, “this has made me to operate from my private residence from Aba to work in Umuahia every day.” Uzokwe also said that other senior judges in the state also suffer the same fate, as they had no official residence in any part of the state, stressing that they also operated from their private residences. She said that the judiciary does not have enough court halls, adding that the magistrate courts in the state were the worst hit.

the protest, described the reinstatement of Dr. Angela Uwakwem, as a ploy to cover up her ‘fraudulent acts’, and directed all health workers to embark on indefinite strike until the decision to reinstate the Medical Director of the Centre is reversed. Addressing the protesting workers and union leaders at the Centre, Bobelemoye, said that the Medical Director was indicted by the report of the Interim Management Committee, and is currently being investigated

by the Economic and Financial Crimes Commission (EFCC). “Under the Civil Service Act, anyone undergoing any criminal investigation should step aside. Dr. Angela Uwakwem as a person is not our focus, but our agitation is against corruption, unethical practices and the strange formula adopted by the Federal Ministry of Health. “We are firmly opposed to the comment that those that do not want Uwakwem should resign.”

Uchenna Inya

our matching grant component,” he said. According to him, IFAD-VCDP would contribute 70% of the equipment which is in weight and measure form while the rice millers would contribute 30%, as “we intend to make them change from the usage of bushel measuring method to standardized forms.” He said, “A bushel is supposed to contain 100 cups of rice but the ones in use at the mill does not measure to such number of cups and this makes the customers feel shortchanged.” The state Commissioner for Agriculture, Mr. Uchenna Orji, was represented by the Director of Engineering Department in the ministry, Mr. Emmanuel Uche.

ENUGU

he new leadership of All Progressives Grand Alliance (APGA) yesterday disclosed that the case of its suspended national chairman, Mr. Victor Oye was in accordance with the constitution of the party. Briefing newsmen in Enugu after meeting with APGA National working committee (NWC) members from the South-East, who were on a solidarity visit, the acting National Chairman of the party, Hon. Nwabueze Okafor said Oye remained suspended pending when he had purged himself of all the allegations that led to his ouster. According to him, Oye’s claims, his suspension was done clearly in line with the relevant sections of the party’s constitution. He said: “The suspend-

Enugu Assembly calls for fresh teachers’ recruitment exercise Charles Onyekwere ENUGU

IFAD pledges equipment for Ebonyi millers T

ABAKALIKI

nternational Fund for Agricultural Development (IFAD) through its Value Chain Development Programme (VCDP), yesterday said it will procure scaling equipment for rice millers in Ebonyi State. The VCDP Coordinator in the state, Sunday Ituma, disclosed this during a Quality Control and Standardisation of Measurement programme organised for Abakaliki Rice Mill Limited members. “This will increase their marketing capacity and make them accustomed to standardised ways of measuring rice, as the procurement would be made under

ed national chairman does not understand the constitution of the party. In article 20 of the constitution, it was clearly stated that a national officer who is found guilty of misconduct can be suspended indefinitely until the matter is resolved; and that is what we have done. “He remains suspended until he clears himself of the allegations. So, I urge our members across the country to work assiduously to put our party together.” While justifying the removal of the national officers, the acting chairman stated that it was a move to save the party from extinction. “You all are aware that the party was drifting on the precipice, and there was need for a quick intervention to save the party; that’s what the National Executive Committee did by suspending the national chairman and two other officers.”

he Enugu State House of Assembly yesterday called for a fresh recruitment exercise of 2,000 teachers into primary schools recently conducted by the state universal basic education board, ENSUBEB, which was marred by irregularities. The resolution to conduct a fresh recruitment exercise, followed recommendations contained in a report submitted to the House by the House Committee on Education, Science and Technology, charged with the responsibility of looking into the exercise. It would be recalled that the House had earlier moved for the outright annulment of the exercise as a result of complaints of irregularities and shoddy deals noticed during the

exercise that took place last month, September, conducted by the Enugu State Universal Basic Education Board, ENSUBEB. The House resolved to mandate the Committee to carry out further investigation into the exercise after it had invited the management of ENSUBEB and Commissioner for Education but was not satisfied with their defence and explanations on how the exercise was conducted. The Speaker, Hon. Edward Ubosi, had mandated the Committee to carry out the investigation and report to the House within two weeks. Among other things, the House Committee recommended that fair and equitable distribution of qualified candidates in the recruitment exercise in each local government area should be observed and adhered to.

NEWS | south-south

wednesday, october 26, 2016 NEW TELEGRAPH

PDP killed Alamieyeseigha, wife alleges Chris Ejim Yenagoa

t was a startling revelation yesterday when Margaret, the widow of former governor of Bayelsa state, late Chief D.S.P. Alamieyeseigha, accused the Peoples Democratic Party (PDP) of killing her husband. One year after the

death of the former governor, the widow has opened up to substantially clear the controversies surrounding his death. The widow in an exclusive interview with our Yenagoa correspondent recalled that it was the PDP that frustrated and sent her husband to his early grave and not the All Progressives Congress (APC) as widely

Ex-commissioner seeks emergency declaration on Niger Delta's environment Pauline Onyibe Yenagoa

ormer Bayelsa State Commissioner for Environment, Iniro Wills, yesterday advocated for the declaration of a state of emergency on environmental matters in the Niger Delta region. Speaking in Yenagoa at a media interaction organised by Environmental Rights’ Action/Friends of the Earth, the former commissioner, who spoke as one of the guest speakers on what he entitled; “Our Lives or Their Oil,” said what had been happening in the Niger Delta all these years, had continued without any visible solution, adding ‘our lives are in danger.’ The former commissioner, who incidentally served under the Ministry of Environment, said he had been asking for a state of emergency on the environment for a long time, though he could not press harder because he was still in government. Speaking on the topic; Oil Companies’ Operations and its Environmental Implication, Wills said

oil companies extract the oil while the communities bear the environmental hazards. He said the major beneficiaries of the enterprise were the Federal Government and the oil companies while the communities were the ones bearing the brunt. Ninety per cent of the oil bearing communities, the former commissioner said had never felt the impact of the government. One of the major negative impact of oil spillage, he said was water pollution, adding that “for over 25 years, Agip Oil Company has been discharging rubbish into Brass water. Air pollution, he said was another major hazard of the oil exploration, noise pollution, loss of income, loss of farm products, among others, were other hazards, adding that government at all levels don't care about the plight of the impacted communities. He lamented that you can't talk about agriculture without talking about the environment, declaring that they have killed the future of the Niger Delta."

Emmanuel tasks Navy on waterways' surveillance Tony Anichebe Uyo

orried by the spate of piracy and other forms of criminality orchestrated by militants on Nigerian waterways, Akwa Ibom State Governor, Udom Emmanuel, yesterday called on the Nigerian Navy to restrategise and checkmate militancy, pipeline vandalism as well as incessant harassment of fishermen and others engaging in economic activities in the country’s territorial waters. Governor Emmanuel made the call during a courtesy visit by the Chief of Naval Staff, Vice-Admiral Ibokette Ibas, at the Government House, Uyo. He commended the navy for their efforts in

sustaining vigilance and for curbing crimes in the nation’s territorial waterways, thereby ensuring safety in the shore lines for smooth operations of oil and gas firms and other investments. Governor Emmanuel acknowledged the gains of establishing educational institutions by security organisations, saying that the added regimentation in the curriculum has produced outstanding students in various fields of study and particularly requested for the establishment of an engineering faculty and other maritime courses in the proposed university to be sited at the premises of the Special Technical School, Ekparakwa in Mkpat Enin Local Government Area of the state.

speculated. Explaining further, she said: “I can categorically say today that it was the PDP that arrested my husband, seized all his property and humiliated him to the point of his death. “It was PDP that killed my husband and not the APC. It was PDP that arrested my husband, it was PDP that humiliated my husband and killed him. At the end, they seized everything that belonged to him.

“It was the PDP that tormented my husband and he died as a result of the humiliation he suffered in the hands of the PDP. As far as I'm concerned, they humiliated us and took everything from us.” Mrs. Alamieyeseigha described her husband as a man, who wholeheartedly fought for the emancipation of the Ijaw people, but that the same people he fought for were those that sold him out to

the PDP that eventually killed him. Recounting how her husband was humiliated before he was arrested, the widow called on the people of the Ijaw ethnic nationality to shun acts that may cause them to betray their leaders. “When my husband

$375m

The net worth of Clint Eastwood in 2016. Source: Fropky.com

took over the mantle of leadership, he saw how his people were suffering. As an intelligent man, he saw the need to fight for resource control as the way out for his people. “But at the end, it was the same people that he fourth for that betrayed him. They sold him out to the PDP that eventually killed him. I want to advise the Ijaw people to stop betraying their leaders, so that they can move forward.” L-R: Enugu State Governor, Ifeanyi Ugwuanyi; Out-going Edo State Governor, Adams Oshiomhole and his successor/ GovernorElect, Godwin Obaseki after the Special Valedictory Session held to honour Oshiomhole in Abuja… yesterday.

Ayade's kinsmen kick against attempt to remove him

Bayelsa PDP lambasts APC over bribery allegation

Clement James

Chris Ejim

Calabar

undreds of thousands of women and youths backed by traditional rulers yesterday took to major streets in Obudu, the home town of Governor Ben Ayade, in the northern senatorial district of Cross River State, in solidarity with the governor. The women and youths, who came from different villages in the area, converged at the council headquarters before taking to the streets, while chanting songs and waving placards with

various inscriptions. Some of the inscriptions read; “We stand with Ayade,” “Ayade has performed,” “Ayade till 2023,” which, according to them, is a demonstration of their confidence on the person of the governor of the state. One of those who spoke at the rally, Mr. Ken Aklah, said the people came together under the aegis of Obudu Peoples’ Congress to support the governor who, he said has performed very well by initiating projects that will transform the state in spite of criticism from some quarters.

Yenagoa

he Peoples Democratic Party (PDP) in Bayelsa State has lambasted the opposition All Progressives Congress (APC) in the state for what it described as its latest act of mischief, saying as always that the people of Bayelsa and Nigerians will not buy it. The PDP said it was reacting to a fresh allegation by the APC to ‘expose’ it's alleged move to bribe judges of the Supreme Court to award them a favourable judgement in the governorship election appeal before the apex court.

Chairman of the PDP in the state, Hon. Cleopas Moses, described the allegation as outlandish, coming from a party that was yet to get their house in order since the January 10, 2016 declaration of Governor Seriake Dickson, as winner of the governorship poll. He said the APC is hallucinating over its desire to regain Bayelsa State and urged them to go ahead and name those the PDP allegedly engaged as syndicates to transfer the said funds to the judges, adding that it is only when that is done with verifiable facts that the world can believe them.

A’Ibom to inaugurate toothpick, pencil factory Tony Anichebe Uyo

enior Special Assistant to the Akwa Ibom State on Due Process and Technical Matters, Ufot Ebong, yesterday said that Governor Udom Emmanuel will flag off a toothpick and pencil manufacturing company in the state towards the end of November 2016. Ebong, who is also the Coordinator, Akwa Ibom Enterprise and Employment Scheme (AKEES), gave the hint

yesterday during a press conference to open a month-long special accountability programme of AKEES, projected under campaign tagged #AkeesSoFar. “The container bringing the machinery has just arrived Tin Can Island,” Ebong announced. The senior special assistant, while reeling out the list of few of the businesses impacted by AKEES, picked out a particular enterprise started by young Akwa Ibom people under AKEES that charges N3,000 per year to

polish shoes for individuals. He said that although the amount they charged was friendly, they have the capacity to sign up over 100,000 beneficiaries of their service, which would make them millionaires in an ingenious business initiative. Ebong said: “My aim is that whenever there is a political rally in the state, Akwa Ibom youths will not be present. When I’m asked, I will say, they are too busy to come. They are at work. And that is what the gGovernor wants.”

He said Governor Udom is encouraging SMEs by initiating policies and programmes targeted at engendering the development of the nonoil sectors where SMEs are dominant players. Facts on ground indicate that AKEES, the brain child of the governor, was initiated soon after resuming office in 2015 and has recorded resounding success in enabling the start-up and reinforcement of over 85 businesses in the state, with over 1500 gainfully employed.

north | news

wednesday, october 26, 2016 NEW TELEGRAPH

Plateau Deputy Speaker, Minority Whip defect to APC Musa Pam Jos

he Deputy Speaker of the Plateau State House of Assembly, Hon. Yusuf Gagdi yesterday dumped the Peoples’ Democratic Party (PDP) and defected to the ruling All Progressive Congress (APC). Besides, the Deputy Minority Whip of the State Assembly, Hon. Daniel Nanlong, representing Mikang constituency also announced his defection to APC party. Gagdi represents Kantana Constituency in the

state House of Assembly. While making known the intentions to defect from PDP, the lawmakers through a letter read on the floor of the House yesterday, the Speaker, Hon. Peter Azi, welcomed the decamped PDP members to the APC, stressing that in the APC there is no discrimination and called on the party members to remain resolute. Meanwhile, he called on the citizens of the state to continue to support the APC at the state and federal levels. Addressing journalists, the Deputy Speaker said the reason why he dumped the PDP for APC was be-

cause most of his supporters are in the APC and that he had carried out wider consultations with them before taken new decision. "What I have done is the wishes of my constituents to defect to the APC for effective representation and development of my constituency," he said. Gagdi, who noted that what he had done is in the best interest of his people and by harking to their call to join the APC.

£66.62m

The total aggregate payments received by Aston Villa for the English 2015/2016 season. Source: Goal.com

New Telegraph investigations revealed that the APC members in the House of Assembly are 16 while the PDP now has eight members. Meanwhile, the Chairman of the All Progressive Congress party in the state, Hon. Letep Dabang, has promised to protect and defend Hon. Gagdi and his office as the Deputy Speaker of the House of Assembly and all other decampees from the People’s Democratic Party and other political parties to the APC. Letep, while reacting to the defection of the lawmakers, said he sees no reason why Hon. Gagdi

Top govt officials under watch, says EFCC Ibraheem Musa

hairman of the Economic and Financial Crime Commission (EFCC), Alhaji Ibrahim Magu, has said that President Muhammadu Buhari has given the anti graft agency the mandate to discreetly investigate top government officials in the country. Magu, who disclosed this when he paid a courtesy visit to the headquarters of the National Union of Textile and Garment Workers Union yesterday, said that most senior government officials are currently under investigation.

According to the EFCC Chairman, the war against corruption is being waged irrespective of party affiliation on the orders of the President. He dispelled allegations that the anti-graft war is being selectively executed. Magu further said that the present administration under the watch of President Buhari has the political will to fight corruption, noting, even the Vice President Yemi Osibanjo and many other prominent people in government have the passion to fight the scourge. The Chairman said that EFCC has no "monopoly

of knowledge to tackle corruption. But more than that, the fight against corruption is designed and structured to boost confidence in the economy as well as to attract investors both within and outside the country”. Earlier, the General Secretary of the Textiles Workers Union, Comrade Issa Aremu, canvassed for a national strategy to fight corruption, pointing out, that the fight should not be left to EFCC, ICPC and police alone. Aremu also blamed the inability of most State governments to pay salaries to corruption, adding that monies allegedly stolen by

public officials were meant to pay salaries and provide dividends of democracy to the people . While praising Buhari administration for the unprecedented "mainstreaming of the battle against corruption ",Comrade Aremu also noted that the curse of graft is already killing industry, enterprise and labour productivity in the country. Aremu therefore called on President Buhari to revisit 2014 National Conference Report and implement some measures therein that would deepen the government war against corruption.

Idris Salisu Gusau

olytechnic teachers, under their umbrella group, the Academic Staff Union of Polytechnics (ASUP), Federal Polytechnic, Kaura-Namoda, Zamfara State chapter, have suspended their one-week warning strike. The suspension of the warning strike was made known by the ASUP Chairman, Comrade Surajo Muhammad Funtua, while addressing newsmen in Gusau yesterday, saying the decision to suspend the strike was based on the agreement reached between the management

Ilorin

Court remands Benue’s council chair, others for killing varsity teacher he Makurdi Chief Magistrate Court yesterday remanded the Sole Administrator of Buruku Local Government Area of Benue State, Mr. David Yimam Terna and two others for alleged criminal conspiracy and culpable homicide. Terna, who was swornin barely two weeks ago as the Sole Administrator of the Local Government Council by the state

Zamfara: ASUP suspends warning strike

Biodun Oyeleye

PHOTO: NAN

MAKURDI

the Sango-led PDP. They include the former Deputy Governor, Ambassador Longjan and most recently, Senator Joshua Chibi Dariye." “These people have already completed their processes to decamp and have filled all necessary documents in their units, wards and Local Government Councils. What people are just expecting is the usual political jamboree." “Two other lawmakers in the state House of Assembly have also indicated their interest to dump the PDP in the state."

of the polytechnic and the union over some of the contentious key demands. According to Funtua, the union’s Executive Council had been directed to monitor how the agreement would be implemented and its sustainable co-existence as agreement had been reached on some of the contentious issues which led to the suspension of the industrial action. ASUP chair also pointed out that the union would continue to monitor the management on how the agreement reached could be fulfilled, even as he called on members of the union to remain law abiding in order to achieve the union’s predetermined objectives.

Kwara revenue boss seeks review of tax policy

Security men parading with security dogs at the opening ceremony of the Ministry of Interior Games 2016 in Kaduna.… yesterday.

Cephas Iorhemen

would not continue to be the Deputy Speaker, when APC would be in the majority in the House. He said: “When the PDP were in the majority in the House, APC emerged as the Speaker of the House and through the political formula we initiated we elected Hon. Gagdi as the Deputy Speaker from PDP. Is it now that Gagdi has finally defected to our party that he would lose his office? I don’t see that happening. “We have other political big wigs that have decamped to the APC from

governor, Samuel Ortom was remanded alongside two others including one Emmanuel Nyajo, a health worker and Mr. Kosuvenyi Ankugwa, who is the Personal Assistant to the Commissioner for Arts and Culture, Mr. Sekav Iortyom, whom New Telegraph gathered is allegedly on the run. They are being remanded at the Makurdi Medium Security Prison over the alleged murder of late Dr. Aondosoo Wilfred Tondo, a lecturer in the Department of Politi-

cal Science at the University of Mkar. They are to remain in prison till January 23, 2017, when the case will come up again. Tondo was murdered in cold blood on August 11, 2016, when some gunmen numbering about three were said to have broken into his official residence and shot him on the abdomen. He later died as a result of the gunshot injuries at the Benue State University Teaching Hospital, where the deceased was rushed to for medi-

cal treatment. The late Tondo was the All Progressives Congress (APC) chairmanship aspirant for Buruku Local Government Council, which he contested with the embattled Sole Administrator. According to the Police First Information Report (FIR) made available to New Telegraph, "during police investigation, the trio including the Sole Administrator were arrested for conspiring with some others still on the runn to commit the crime."

he Chairman of Kwara State Internal Revenue Service (KIRS), Dr. Muritala Awodun, yesterday called for a review of the current tax policy in the country. This was as the service announced the enforcement of tax payment in the state as from next month. He, however, denied allegation that the service was withholding tax revenue meant for Local Government Areas in the state, alleging that the 16 Local Government Areas only made a paltry N200 million as tax in 2015, while KIRS has so far collected over N164 million for the LGAs in seven months. Awodun, at a meeting with newsmen in Ilorin, the state capital, said the Federal Government must align its tax policies with global practices, which target effective tax obligation among the top 20 per cent of the population, which always account for

80 per cent of national tax payments. “Nigeria needs to look critically at its tax policy and reform it appropriately in order to get its IGR right,” Awodun noted, adding that “it is unfortunate that the category of people and organisations making the 20 per cent currently pays less than 10 per cent of their tax obligations because they have political influence and can always engage the best tax consultants and senior lawyers to have their ways.” He said: “That is where we have the leakages in revenue mobilisation. The rate given to these people is low, but if raised to their right levels there will be increased revenue for the country. By world standard it is just 20 per cent of the people or organisations in any nation that pay 80 per cent of the taxes because the wealth of a nation is always concentrated in the hands of those 20 per cent and the country is not an exception whether you will say those people got their wealth legally or otherwise.”

POLITICS

Onyekachi Eze Abuja

actional Chairman of the Peoples Democratic Party (PDP), Senator Ali Modu Sheriff, yesterday said he would not take side in any conflict over the choice of candidate for the party by the Independent National Electoral Commission (INEC) in the November 26 governorship election in Ondo State. Sheriff also dismissed the insinuations that he was behind several petitions against INEC, even though he admitted submitting a name to the commission as PDP’s governorship candidate in Ondo State. Mr. Jimoh Ibrahim, who emerged in a parallel primary conducted by Sheriff’s faction in Ibadan, Oyo State, at weekend, alleged that INEC Acting Director, Legal Services, Mrs. Toyin Babalola, demanded $1 million bribe from him to act on court order recog-

WORLD \ NEWS

Sheriff distances Third runway at Heathrow self from Ibrahim cleared for takeoff by ministers nising him as PDP candidate for Ondo State. But Sheriff in a statement by his Special Adviser on Media, Inuwa Bwala, said as a law abiding person, he is bound by whoever INEC publishes as PDP candidate for the election. "He is not aware of any alleged move to blackmail INEC as he has high regards for the commission. Ali Modu Sheriff did not author nor did he authorize any petition to be written on his behalf, as is being mischievously alleged in some sections of the media and wish to state that people should stop using his name to settle scores," the statement warned. The electoral body is expected to publish, this week, names of candidates who are qualified to contest the election. According to the fac-

Governorship is not a do-or-die, says Jegede Stories by Babatope Okeowo

he governorship candidate of the Peoples Democratic Party (PDP) in Ondo State, Mr. Eyitayo Jegede (SAN), yesterday, told his supporters not to see the forthcoming election as do-or-die affair. Jegede also tasked his cocontestants on the need to ensure that there is no bloodshed before, during and after the November 26 poll. Speaking during an interactive session with leaders of the Christian Association of Nigeria (CAN) Ondo State chapter, led by their chairman, Rev. John Oladapo, Jegede said he is not desperate about winning as he sees his aspiration as a quest to deliver service to the people. When asked by the cler-

ics on what he and his party are doing to forestall violence during the election, he replied: “As far as I am concerned, this election is not a do or-die-affair.” He added: “While I believe that by the grace of God I will win, I am not also desperate to win. I do not want bloodshed for whatever reason. That’s why I will appeal to you our fathers, the men of God, to pray for a peaceful election in the state. “The truth is that, all of us cannot become governor. Only one person will win and we should not because of that resort to violence and other criminal acts. This very much we know in the PDP and we appeal to our rivals to let, as brothers and sisters, play the game according to the rules.” The PDP candidate, who unfolded his agenda cutting across education, industri-

tional chairman, he has done his duty by submitting a name to INEC and expects that the commission would act in accordance with its own mandate. "This is against widespread speculations linking him with controversies surrounding the emergence of Eyitayo Jegede (SAN) and Jimoh Ibrahim as candidates of the PDP for the Ondo elections, to the effect that he has been arms twisting the electoral body. "Sheriff is not unmindful of events leading to the emergence of the two candidates, but wishes to assure Nigerians that steps are being taken to resolve all such issues even beyond what INEC may do, to avoid past experiences occasioned by internal bickering in the PDP," the statement assured.

political parties, especially that of the Peoples Democratic Party (PDP). CDNDC said that from its investigations, the Supreme Court has settled the fact that only the national executive organ of a party can validly submit to INEC the names of the party's candidates in a general election. In a statement by its conveners, Messrs AriyoDare Atoye, Ilemona Onaja and Ojugo Onyeluka, the coalition cited the judgements of the apex court in: "Emeka vs Okadigbo & Ors (2012) 18 NWLR (pt1331) 55; Emenike vs PDP (2012) 18

he government has approved a third runway at Heathrow to expand UK airport capacity following a cabinet committee meeting yesterday. Transport Secretary Chris Grayling said the "truly momentous" decision would support trade and create jobs. Gatwick airport said it was disappointed with the decision, which was "not the right answer for Britain". The issue has split the Cabinet, with Foreign Secretary Boris Johnson saying a third runway was "undeliver-

able". The Education Secretary, Justine Greening, whose Putney constituency in southwest London is near the airport, has also been a vocal critic of Heathrow expansion. The Department for Transport said a new runway at Heathrow would bring economic benefits to passengers and the wider economy worth up to £61bn and create as many as 77,000 additional local jobs over the next 14 years. Heathrow said the expansion would allow it to offer more direct flights

to UK destinations as well as up to 40 new cities abroad such as Wuhan, Osaka and Quito. A public consultation will now be held on the effects of airport expansion before the government makes a final decision as part of a national policy statement on aviation. MPs will then vote on that decision in the winter of 2017-18. It is unlikely that any new runway capacity would be operational before 2025. Construction is not likely to begin until 2020 or 2021, the Airports Commission has said.

ONDo DECIDES

Part of the airport

alisation, employment and agriculture, saying he would partner with religious bodies towards restoring moral values and in developing the education sector. He also said that if elected, he would introduce moral education and civil ethics into the school curriculum and that, respective religious bodies would have great input in formulating the policy. Jegede also appealed to the people of the state to be patient in the face of the present economic hardship, stressing that if elected, he would swiftly embark on taxfriendly industrial projects that will provide massive jobs to cushion the effect of the recession.

Coalition tasks INEC to defend democracy head of the release of the final list of governorship candidates for Ondo State, a pro-democracy group, Coalition in Defence of Nigerian Democracy and Constitution (CDNDC), has urged the Independent National Electoral Commission (INEC) to defend democracy by following the path of established principles of law and decisions of the Supreme Court. The group specifically urged the INEC to apply the various judgments of the Supreme Court in determining the rightful candidates of the various

WEDNESDAY, OCTOBER 26, 2016 NEW TELEGRAPH

NWLR (pt 1315) 556; Oguebego vs PDP, which were to the effect that the appropriate organ of a party empowered to conduct primaries and submit names of its candidates for the purposes of general election is the National Executive Committee. The group, however, observed that there is no contention before INEC as to who is the rightful leadership of the PDP, since various judgements of the Federal High Court have upheld the legitimacy of the Ahmed Makarfi led National Caretaker Committee (NEC).

UN urges South Sudan to defuse tensions

outh Sudan is suffering a rise in hate speech and incitement to violence against certain ethnic groups which could result in mass atrocities if the government does not act, the UN High Commissioner for Human Rights said yesterday. Animosity between South Sudan's Dinka ethnic group and the people of its southwestern Equatoria region surged earlier this month when buses on roads south of the capital Juba were attacked as they passed through Equatoria region. The government said 21 civilians were killed in one ambush on October 8, but

rumors that as many as 200 Dinka had been killed circulated on social media, followed by calls for revenge. Letters threatening violence and "elimination" of Equatorians in the north western region of Aweil and an attack on an Equatorian humanitarian worker in Aweil town prompted the evacuation of nearly 100 humanitarian staff from the area, the statement from Zeid Ra'ad al Hussein said. "Hateful ethnic rhetoric in South Sudan ... can have devastating consequences for entire communities, quickly spiraling into a cycle of revenge attacks,"

Zeid said in the statement. He urged President Salva Kiir, himself a Dinka, to condemn the incitement to violence and to take urgent measures to defuse the tensions. He also expressed concern over a statement by Kiir on October 19 that he would personally lead military operations against the armed groups responsible for the killings in the Equatoria region. The Dinka are the biggest single ethnic group in South Sudan, but do not make up a majority of the population of 11 million people in the country which is a patchwork of dozens of tribes.

Outrage over US attempt to recoup veteran bonuses

housands of California National Guard soldiers have been ordered to repay enlistment bonuses given to them a decade after they signed up to serve. Pentagon audits found the California Guard overpaid recruits in an effort to fill the shortage of troops during the wars in Iraq and Afghanistan. Lawmakers and veteran leaders decried the decision Monday, calling on the Pentagon to absolve the debts. Soldiers

face interest charges and wage garnishments if they refuse to pay. The welfare of veterans has been a central plank of Donald Trump's presidential campaign, although the issue has not figured much in the three TV debates. In the latest scandal, nearly 10,000 soldiers are expected to repay upwards of $15,000 each after a 2010 federal investigation found that the California Guard doled out more money in bonuses and student loan payments than it was sup-

posed to, according to US media. The total amount given out is still unclear, but the Los Angeles Times reported that $22m (£18m) has been recovered in California so far. Democratic nominee Hillary Clinton said she was "appalled" by the news. "It is unacceptable to now subject them and their families to undue financial burdens thanks to to mismanagement from the California National Guard and rigid bureaucracy on the part of the Pentagon."

WEDNESDAY, OCTOBER 26, 2016 NEW TELEGRAPH

Sport Ajibade Olusesan

ne of Nigeria’s greatest defenders of all time, Taribo West, has said the defence of the current Super Eagles could be protected with general attacking attitude of the team. Taribo said the Eagles’ defence was a work in progress and could cave in under serious pressure but the coach could come up with a tactical plan which should include attacking the opponents throughout the game. He said it was difficult to single a particular aspect of the Eagles’ back four out as the weak link, insisting that coach Gernot Rohr must find a way of perfecting the blend. “I think our back four is growing even though the players still have a long way to go. I watched them in the two matches they have played under the new coach and I know there is still a lot of work to be done. But they always say the best form of defence is attack, the coach should find a way of protecting the defence line and I think we have the talent to attack any opponent and that is where I think we should go,” he said. He urged the team to sustain the gains recorded in the opening fixture of the 2018 World Cup qualifying series when it defeated Zambia in Ndola by beating Algeria when they arrive in Uyo next month. He said the team must take full advantage of the instability in the camp of the Algerians who sacked their coach following a goalless draw at home with Cameroon in the first round of matches in the qualifying series. He said that it was a huge advantage for the Nigerian side that their opponents were without a substantive coach, insisting the Rohr’s men have psychological edge heading into the cracker slated for November 12 in Uyo.

Sport News

Did you know? That Kelechi Iheanacho has scored 11 goals out of his 17 shots on target for Manchester City. The record of the Nigerian youngster is currently the best in Europe.

Oshoala: Ghana no threat to Nigeria’s AWCON dream

International Sport De Bruyne ruled out of Manchester derby

46 47

NIG vs ALG

Taribo tasks Rohr on tactical discipline …says Eagles must attack and attack “It Algeria’s (lack of coach) gives our team a psychological advantage ahead of the game. We are more stable, we have our Manager and we started well by beating Zambia, we really have everything

working for us coupled with the fact that we will be playing at home. So, we just have consolidate on the good start in the qualifiers by beating Algeria, the players must not rest Super Eagles striker, Alex Iwobi on their oars,” he said.

Heritage Bank targets new stars with Skoolimpics

The Sport Team Adekunle Salami Group Sport Editor

Emmanuel Tobi Assistant Sport Editor

Ajibade Olusesan Sport Correspondent

Charles Ogundiya Sport Correspondent

he Managing Director/Chief Executive Officer of Heritage Bank, Ifie Sekibo, on Tuesday said the outfit was committed to discover, nurture and reward young talents from secondary schools. He said the need to catch them young and develop them to become future Olympics stars necessitated the introduction of Skoolimpics. Speaking during the press conference heralding the three-day games, Sekibo, who was represented by the Executive Director, Lagos and SouthWest Corporate Banking of Heritage Bank, Mary Akpobome, said there was need to tackle the dearth

sport talents and the best way to do that was by catching them young. “Skoolimpics is the holistic development of young people in order to foster their physical, social and emotional wellbeing,” Sekibo said. “The benefits of the games are immense because sport is an essential part of education, as such Skoolimpics put in another way is where education meets sport. “Before now, Nigeria was a force to reckon with on the continent and world in general, but the country’s recent lacklustre outing at the Rio Olympic Games in Brazil sums up the deterioration in our institutional sporting

framework.” Speaking further, the MD said gone were the days when there were several competitions to discover athletes in various sport, mentioning organised games like the National Sports Festival, Army and Police Games, Customs, Immigrations and Prisons Games to mention but few. In her own word, the Divisional Head, Retail/SME of the bank, Ori Ogba, who was the brain behind the games said in less than three years of existence of the organisation, they saw the need to invest more in the school children. She said: “Other institutions have been around and see no reason why they

have to invest in the school children, but we decided to come up with Skoolimpics. “This is Heritage Bank’s brain child, nobody approached us, we came up with the idea and decided to invite others because we cannot do it alone.” Over 200 public and private secondary schools with about 6000 students are expected to be part of the first edition of Skoolimpics with the games scheduled to start from November 2 to 4 at two different centres; Teslim Balogun Stadium, Surulere and Rowe Park, Yaba. The games’ torch will also be taken round the state between Wednesday (today) and Friday, October 28.

SPORT NEWS

WEDNESDAY, OCTOBER 26, 2016 NEW TELEGRAPH

Ighalo faces two-year jail term

Oshoala: Ghana no threat to Nigeria’s AWCON dream ...as Super Falcons’ build-up thrills Omagbemi

Emmanuel Tobi

rsenal Ladies of England striker, Asisat Oshoala, has said the Black Queens of Ghana are no threat to Nigeria’s quest to retain the Africa Women Cup of Nations billed for next month in Cameroon. Nigeria will play Ghana, Kenya and Mali in Group B of the 10th edition of the event scheduled for November 19 December 3 in Cameroon. Speaking with New Telegraph from her base, the former CAF Women Player of the year said: “We are conscious of the fact all teams at the competition are ready to stop Nigeria but I don’t think our focus should be on Ghana because they are no a threat to our ambition to defend our title.” She added that, “We are very determined to retain the title and maintain our position as Africa’s champions and we ready to take the matches one after

the other. We are not under pressure at all.” Meanwhile, Super Falcons head coach, Florence Omagbemi, has assured Nigerians that the Falcons will do everything humanly possible to retain the continental title. “I am impressed with the sessions I have had with the ladies since I got in. It’s a process and we just started. We want to build from where we stopped from the qualifiers because I still have the players we used to execute those matches. Just waiting for the foreign -based to join the team and we will continue. “When we get to Cameroon we will take each and every of our matches one at a time, but right now the main objective is to prepare the team well for the tournament. I know that everyone is expecting us to go to Cameroon to do well. By God’s grace, with sound preparation we will do well,” Omagbemi stressed.

Ighalo

NCC Tennis League returns with Coca-Cola support

Wilmots rejects Algeria, T Courbis now favourite

x-Belgium coach Marc Wilmots has rejected a chance to lead Algeria after contract talks collapsed over cash with Frenchman Rolland Courbis now likely to take over Nigeria World Cup rivals. According to the Algeria News Agency, negotiations between Wilmots and FAF president Mohamed Raouraoua in Brussels broke down over finances with speculations being that the Belgian coach’s asking price was beyond the budget of Algeria. As a result of this, Frenchman Rolland Courbis has now emerged as favourite to replace the Serb Milovan Rajevac, who quit his post earlier this month after Cameroon forced Algeria to a 1-1 draw in Blida in a World Cup qualifier. However, Wilmots has insisted money was not the reason he turned down Algeria. A Belgian journal-

ist, Thierry Luthers, said he spoke with Wilmots, who denied money was the stumbling block. The journalist further said the coach told him he could return to national team management “in two, three years” possibly because of how his career as Belgium coach ended in a huge disappointment. Belgium under Wilmots were one of the leading favourites to win the 2016 Euros in France only for them to fail so miserably. Wilmots will rather consider returning to club football soon.

uper Eagles striker, Odion Ighalo, faces a two-year jail term following allegation about his involvement in a bribery scandal while he was playing in Spain with Granada Spanish publication, Marca, reports that the provincial district attorney’s office of Granada has requested a two-year prison term and a fine of 3,000 Euros for Ighalo, his ex-Granada teammate, Diego Buonanotte, and 93 others for allegedly bribing their way to pass a driving test. According to the provisional writing of the prosecution, in 2012 and 2013 someone was hired to write the exams for Ighalo and the other accused. After the test was written, the errors made on the sheet were allegedly deleted. Investigation further revealed that three syndicates of Íllora (Grana-

he NCC Tennis League will resume this weekend with a high-stake tie between Team Lead Way and defending champions, Team Tombim, at the National Stadium Surulere, Lagos as well as a second tie in Ilorin between Team Goshen and Team Offikwu at the Kwara State Stadium, Ilorin. Team Tombim have national champion Moses Michael and highest ranked ATP player Christian Paul as the leading players and they are backed by Sarah Adegoke, national No.4 as the women’s singles player. The defending champions will however have to contend with Joseph Imeh, a Nigerian top 10 and ATP ranked player as well as Ronke Akingbade ranked No.5 in the ladies. The Lead Way smashers are

also expected to have the edge in the men’s doubles and mixed doubles as they have Monday Igbinovia, a doubles expert to lead the team. Meanwhile, soft-drink giants, Coca-Cola, have thrown their weight behind the tennis league. Coca-Cola will be offering refreshment to all the players, officials and spectators at all the venues beginning this weekend. Godwin Kienka, Director of the International Tennis Academy, who is coordinating the league said: “This is a massive addition and takes us closer to our dream of becoming the most spectator-friendly event in Nigeria. In addition to snacks and refreshments to all spectators, there will be raffle draws for state-ofthe-art phones, tee shirts and other gift items.”

da), Mengíbar (Jaén) and Ciudad Real who moved to Granada allegedly recruited students to help write exams for clients who wanted to pass the driving license exams, and were charged between 1,500 and 2,500 Euros. Following the incident, the prosecutor found the Super Eagles striker culpable of the crime of falsifying an official document. Meanwhile, as is the practice, Ighalo may be dragged to appear in court to testify in Granada if an open trial is to be held. Earlier in the week, another former Super Eagles World Cup star, Efetobore Sodje, and three of his brothers, Bright, 50; Samuel, 37; and Stephen, 42; were also summoned to appear at the Westminster Magistrates Court on November 16 to answer fraud charges.

Double awards delight for Mfon Udoh

nyimba striker, Mfon Udoh, has expressed delight at finishing as top scorer in the 2016 CAF Champions League and at the same time being shortlisted for the African Player of the Year (based in Africa) award. Udoh explained to supersport.com that he always had self-belief in his talent despite facing a period of drought in front of goals in the Nigeria Professional Football League. “It’s an awesome feeling for me (to be named among the

nominees for the CAF awards and also winning the top scorer award in the Champions League),” Udoh told supersport.com. “I never doubted myself in anyway but I did not think I’ll be nominated for the CAF award. I’ll credit my teammates for this and also this is a feat achievable by God’s grace.” The striker enjoyed a purple passage in the CAF Champions League this year and his goals helped twotime African champions, Enyimba, reach the group stage.

Ubah, Afolabi to grace Oladipo Cup final

roprietor of IfeanyiUbah FC, Dr. Ifeanyi Ubah, as well as Managing Director of SIFAX Group, Dr. Taiwo Afolabi, and the National President of Sports Writers Association of Nigeria, Honour Sirawu, are top among the dignitaries expected at the grand finale of the maiden Rafiu Ladipo All- Stars football tournament billed for November 20.

The championship which began with 16 teams will climax with just two teams namely; Festac All-Stars and Ifako Ijaye All Stars to decide winner of the competition organized for ex-internationals and former national team players. Third-place match between Arsenal Nigeria and Ajah- All Stars will open hostilities at 1pm before the final game at

4pm. Oladipo who is the President General of Nigeria Football Supporters Club in whose honour the championship is being organised told our correspondent that there will be a lot of side attractions to add colour to the event which would attract ex-internationals like; Henry Nwosu (MON), Emmanuel Amuneke, Jonathan Akpoborie, Victor Agali,

L-R: Manager, Sponsorship, Etisalat Nigeria, Orah Egwu; Permanent Secretary, Ministry of Education, Enugu State, Mr. Augustine Ude and Head, Regional Sales, South East, Etisalat Nigeria, Okechukwu Nwaeze with the Champions Trophy during a courtesy visit to the ministry as part of activities to mark the kick-off of the Etisalat School Cup Season 3 Regional Play-Offs in Enugu State .

INTERNATIONAL SPORT

WEDNESDAY, OCTOBER 26, 2016 NEW TELEGRAPH

anchester City boss Pep Guardiola has revealed that Kevin de Bruyne will be unavailable for Wednesday’s Manchester derby against Manchester United in the League Cup. The Belgian international was substituted at the interval of Sunday’s 1-1 draw with Southampton with a calf problem and Guardiola has confirmed that the attacker is now unavailable for the clash at Old Trafford. “He had a knock on the leg and he cannot play. Hopefully [he can face] West Brom and Barcelona [but] he’s a doubt even next weekend,” Guardiola told reporters. Pablo Zabaleta and Vincent Kompany are also both expected to miss out at Old Trafford, where Man City will go in search of their second win against their rivals this season.

FANS’ ZONE Can Super Eagles’ defence cage Mahrez, Slimani?

De Bruyne ruled out of Manchester derby

Nigerians are divided over the ability of the Super Eagles to cage the Algerian striking duo of Islam Slimani and Riyad Mahrez when both teams battle in next month’s World Cup qualifier in Uyo.

Defenders have a big task

don’t think Nigeria’s defence can cage the Algerian strikers, because they are fast and bad. The Super Eagles should just try their best to curtail them. Damilola Aliyu Lagos

Mahrez, Slimani will be invincible

De Bruyne

Argentina, Uruguay plan to co-host 2030 World Cup

Alberto

Brazil legend, Alberto, dies at 72 razil’s 1970 World Cup-winning B captain, Carlos Alberto, has died of a heart attack at the age

of 72, former club Santos has announced. Widely regarded as one of the finest defenders of all time, Alberto is most fondly remembered for scoring the stunning fourth goal in Brazil’s 4-1 final win over Italy at Mexico 1970. A sublime team move, that concluded with a thunderous finish after Pele rolled a pass nonchalantly into the right-back’s path, sealed a third world title for Brazil, allowing them to keep the Jules Rimet Trophy that Carlos Alberto hoisted at Estadio Azteca. He began his playing career with Fluminense, and later moved to Santos, where he played alongside Pele in a celebrated line-up, making 445 appearances and scoring 40 goals. Capped 53 times by his country from 1964 to 1977, Alberto went on to become one of the star names to take part in the North American Soccer League, representing New York Cosmos in two spells between 1977 and 1982, when he hung up his boots. He then embarked on a varied coaching career, taking charge of Fluminense, alongside spells at Flamengo, Corinthians, Atletico Mineiro and Botafogo in his homeland. Mexican clubs Monterrey and Tijuana are among those in his CV during the 1990s and he also led Oman and Azerbaijan at international level – the latter, his final post, coming in 2005.

he presidents of Argentina and Uruguay say they are still planning to go ahead with a bid to co-host the 2030 World Cup. Argentina President Mauricio Macri says the South American neighbors “will work together to aspire to host the 2030 World Cup.” Soccer’s next World Cup is in 2018

in Russia, followed by 2022 in Qatar. North America is the favorite to host the 2026 event, either by the United States alone, or in a bid with Mexico and Canada. Macri and Uruguay President Tabare Vazquez spoke Monday at a joint news conference in the Argentine capital. The 2030 World Cup will mark the

100-year anniversary of the event, which was first played in 1930 in Uruguay, and won by the host nation.

Mahrez

think Eagles’ defence is okay for now. The players are capable of caging Algerian strikers. Islam Slimani and Riyad Mahrez are not in good form. Adu Moses Lagos

Slimani

Eagles can shut them out

ith tactical discipline which the new manager has injected into the team, Slimani and Mahrez will not be a problem for Nigeria. The duo couldn’t do anything against Cameroon so we shall deal with them when they visit Nigeria next month. Oladipupo Onikoyi Lagos

Mahrez deadly in penalty box

don’t think we have the defence to stop them because Mahrez is at the prime of his career. The way he dazzles with the ball is amazing and if our defenders are not careful, they might concede a penalty in the 18 yard box. Owen Asueya Bayelsa

Maurico

Eagles will cage Algerian strikers

Watford to probe forged bank letter I Eagles too strong for Algeria W W atford have announced that the club will launch an internal investigation into allegations that a forged bank letter was supplied during Gino Pozzo’s takeover of the Hornets in 2014. Details published by The Telegraph have alleged that a proof of funds document was falsified and handed to the English Football League when Pozzo took sole control of the club from his father Giampaolo two years ago.

Watford coach, Sanchez Flores

The EFL is investigating the claims and now Watford have opened a separate probe. A statement from the club’s chief executive Scott Duxbury read: “Watford Football Club was recently contacted by the EFL in relation to matters

concerning a proof of funds document for £7m provided to the ho is Mahrez and Slimani? I believe we have EFL by Hornets Inthe good personnel to handle both of them and vestments Ltd in 2014 we will destroy them if all our players are available. in order to ratify a Agboola Olajide change in Hornets InLagos. vestments Ltd shareEagles’ defence porous holding. “The club had no t is impossible for the Eagles to handle the Algeriprior knowledge of ans because we don’t have a quality defenders to any concerns about stop the tall Slimani who is very good in set pieces the authenticity of and we can’t stop the pace of Mahrez. the document and Primate Fagbenjo Hornets Investments Lagos Ltd has invested over £20m into the club since the proof of lderson Echiejile can stop Mahrez if Alex Iwobi funds 2014 document. helps him at the defence. Also, Kenneth Omeruo can stop Slimani but the major advantage is that we will be playing at home. Femi Akintunde the Emirates Stadium Ogun and has set the Blues up with three central defenders in recent weeks. Oboabona, Ekong will stop Algerians think Super Eagles defence duo of Godfrey OboaThe Italian’s decibona and Williams Troost-Ekong can stop Mahrez sion has yielded instant success with and Slimani if they are featured in the game against Chelsea securing three Algeria. We have a great team going forward but with successive victories - the support of the midfielders, we can stop the ramand three clean sheets paging Algerians. Oyetunji Oyekunle, Oyo - the latest of which saw Conte’s men sweep Manchester United Compiled by Oluwaseun Bankole, James aside 4-0. Abiodun, Temidayo Kpossou, Akeem Lawal

Courtois praises Conte’s 3-4-3 formation

hibaut Courtois has become the latest Chelsea player to praise Antonio Conte’s decision to switch to a 3-4-3 system at Stamford Bridge. Chelsea enjoyed a bright start to the season after winning their opening three games, but the club’s momentum faltered following back-to-back

defeats to rivals Liverpool and Arsenal. However, Conte opted to tweak his tactics after being outplayed at

Courtois

f Nigerian defenders can play with determination they can cage Algerian duo of Slimani and Mahrez. Seyi Aliyu Lagos

Home advantage is key

On Marble “Old radicals never changed.

They just got law degrees and updated their bag of tricks.”

Sanctity of Truth

Bola Bolawole Should ‘corrupt’ judges ‘step aside’ for investigation?

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

–Susan Elizabeth Phillips WEDNESDAY, OCTOBER 26, 2016

}16

N150

Blank cheque to act lawless

he Nigerian people will pay a huge and costly prize if the current challenges facing some members of the Bench are not handled with wisdom. Almost every Nigerian and members of the international community know that all is not well with the judiciary and the legal system. There is no gainsaying that it is now a notorious fact that some judges of the various courts in Nigeria have been accused of corruption in the performance of their judicial functions. The Economic and Financial Crimes Commission has invited some of them for questioning. The Department of State Services (DSS) arrested some of them in a midnight raid that left members of the Bar and the Bench bewildered. The National Judicial Council (NJC) recommended some of them for dismissal and trial and is under pressure to suspend and or dismiss those it has accused of corruption. The challenge facing the Bar, the Bench and the security agencies is on how to proceed with investigation and or trial of the said judicial officers, their arrest not having followed the extant rules and procedures of the NJC. It is on record that the Nigerian Bar Association (NBA) condemned the manner of the arrest of serving judicial officers but has suggested that the affected judicial Officers should step aside or proceed on compulsory leave while investigations are ongoing preparatory to their possible arraignment and trial. The National Judicial Council on its part has said that the procedure of “stepping aside” and or going on compulsory leave before investigation is alien to the Nigerian Constitution and its modus operandi and will not suggest such to the affected judicial officers. The position of the NBA and that of the NJC are not irreconcilable. The Bar and its leadership forcefully condemned the tactics employed by the security agencies in arresting the judicial officers. In doing so, the Bar Association is not advocating and or contending that the members of the Bench are above suspicion and therefore must not be touched even if they become a danger to the Nigerian society. In suggesting temporary “stepping aside” the Bar and its leadership am sure are not suggesting that those Judges under investigation have been stripped of their presumption of innocence or have been found guilty before investigation. The incongruity of the present situation is just that, as with most things in Nigeria, we started from the conclusion before formulating the issues for determination. I am sure that we would not be in the present precarious situation if the authorities had faith in our institutions and trusted our institutions to deliver justice. The security agencies would have concluded their investigation and passed same to the NJC. The NJC would have done its own investigation and returned a verdict which may go to the Governors or to the President for necessary action. Now, the people are faced with a situation where corruption charges are

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

NBA President, Abubakar Mahmoud

hanging over some judicial officers and the cases involving them may be assigned to their courts and may go to some of them on appeal. This is because; some of the Judges are serving judicial officers and have a constitutional right to sit as Judges of their various courts. Won’t it amount to professional misconduct if the judges refuse to sit? Well, some of them are sitting and there is confusion on how to proceed in the face of their public trial and conviction. This is the crux of the matter. Will the public and lawyers feel comfortable appearing before a judicial officer on whose head the government has hung a huge case of corruption? Will the presumption of innocence inure to such a judicial officer? Do the people appreciate the fact that the removal of a Judicial Officer must follow the due process requirements through the NJC (which is a creation of the Constitution) before it goes to the President and the Governors? In the present circumstances, do Nigerians really care about procedural niceties? Won’t the administration of justice be ridiculed if an accused person stands up in open court and insists that a particular Judge is not competent to proceed with his or her trial based on the fact that both of them are facing the same allegations of corruption? I believe that the stand of the NBA is a pragmatic middle ground position aimed at protecting the institution as a whole. But it has its own constitutional and moral implications and may not be a good precedent for the resolution of future cases.

DG, DSS, Lawal Daura

I am not sure suspending or forcing judicial officers to proceed on compulsory leave or vacation is a good precedent. What that means is that any individual can file a patently frivolous complaint borne out of malice and the affected judicial officer will be forced out even before investigation. But we are in unusual times and very unusual things are happening. We are at a cross road and there are no easy choices. Maybe the affected judicial officers can voluntarily elect not to sit pending the conclusion of investigation and this can be endorsed by the NJC. The truth is that almost every sector of the Nigerian society has its own problems and feeble attempts have in the past been made to address some of the weaknesses and shortcomings of our institutions. Unfortunately, some of the attempts ended without any tangible gains. Enduring and sustainable reforms are not done on the spur of the moment. Sustainable reforms are based on research and well thought out programmes and policies. Reforms that are based on vengeance, empty populism, plain grandstanding and “election fever” evaporate as soon as their initiators are gone. The Judiciary must be reformed to enable it fulfill its constitutional and moral duty to the society. In reforming the judiciary and weeding out the “misfits” we must realize that it will come with a heavy prize. The reform may enable the judiciary perform well to the admiration of the Nigerian public or may throw up the opposite wherein it

becomes an object of scorn and ridicule. It is in this wise that it becomes wise and imperative to tread cautiously on branding the entire judiciary as corrupt or seeking to destroy the institution. We must on no account give the impression that they can never get justice in our courts. With the fluid situation in the Judiciary, security agencies engage in extra judicial execution and use the problems in the judiciary as an excuse. Some security officers make excuses for their own corruption and claim that the judiciary is solely responsible for recidivism in the prisons. They claim that Judges and Magistrates routinely release hardened criminals on account of corruption. Some vigilante groups are given the go ahead to deliver instant justice on account of the perception that accused persons will be set free if they are taken to court. Some of our people also pay lip service to the presumption of innocence and due process. For some of them, suspicion is enough and the presumption of innocence is a luxury. That is why we do not express outrage at the extra judicial execution of persons on the mere fact that they caused obstruction on the highway. We also find it difficult to condemn plain injustice when it involves religion and ethnicity. The point here is that we will be giving a blank check to our people to act lawless by demonizing the judiciary and giving the impression that due process does not matter. The judiciary is an indispensable component of our democracy and specially and specifically designed to tame and moderate our views and our conduct and prevent us from taking the laws into our own hands. We must therefore engage in comprehensive reforms of our judicial institutions within the contest of the constitution and our rules of procedure. Shock treatment without following due process may have temporary appeal but will not endure.

HIGH CHIEF

APC TAKES RESPONSIBILITY FOR ECONOMIC HARDSHIP – NEWS

-Bitter pill to swallow!

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