Wednesday, october 5, 2016 by Newtelegraphonline

IMF: Nigeria to exit recession in 2017

lUpgrades country’s growth cut to 1.7% lSees subdued global growth at 3.1%

Ayodele Aminu

resident Muhammadu Buhari’s assertion in his Inde-

pendence Day broadcast at the weekend that Nigeria’s recession will not last may be true after all; as the International Monetary

Fund (IMF) yesterday projected that the country’s economy will grow by 0.6 per cent in 2017. In its October 2016 World

Economic Outlook (WEO) released yesterday, the IMF also forecast that Nigeria’s economy will contract 1.7 per cent this year, less than

the 1.8 per cent the IMF earlier forecast. Nigeria’s economy was earlier estimated to shrink by 1.8 per cent in 2016, but

the latest version of the WEO has reviewed positively the country’s economy to a contraction of just 1.7 per cent. However, the Fund said the global economy would remain subdued and expand by 3.1 per cent this year, unchanged from its CONTINUED ON PAGE 4

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Crude oil theft: FG demands $406.75m from Shell }3

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Recession: Buhari puts presidential aircraft for sale

Presidency justifies sale of Falcon 7X, Hawker 4000 }2 2017: FG projects N6.866trn budget, N1.63trn for debt service

Abduction: CBN governor's wife, our }8 biggest catch –Gang leader

Emefiele

Oyegun to Tinubu: I won't resign as APC chairman L-R: President, Nigerian Bar Association (NBA), Abubakar Mahmud; Rivers State Governor, Nyesom Ezenwo Wike and his wife, Justice Eberechi Suzzette, during the inauguration of NBA Law Centre in Port Harcourt …yesterday

lParty chair, Izunaso manipulated primaries –NWC member lPandemonium as Abraham, Akeredolu’s supporters clash }3 & 40

Early morning sex best for health, says UNILORIN Don }7

NEWS

WEDNESDAY, OCTOBER 5, 2016 NEW TELEGRAPH

Recession: Buhari puts presidential aircraft for sale

Wole Shadare, Anule Emmanuel and Yekeen Nurudeen

n the face of economic recession, the Federal Government has put up two of the 10 aircraft – a Falcon 7X and Hawker Sidley 4000 – in the Presidential Air Fleet (PAF) for sale. The government has, in an advertisemen, informed interested buyers of the luxury aircraft to inspect the Falcon 7X aircraft at the Presidential Air Fleet’s Hangar located at the Nnamdi Azikiwe International Airport, Abuja, while the Hawker 4000 aircraft can be inspected at Cessna Zurich Citation Service Centre, Zurich, Switzerland. New Telegraph learnt that the Federal Government has spent N7 billion maintaining the 10-aircraft in 16 months. PAF has the second largest fleet of aircraft in the country, coming behind Arik Air, Nigeria’s biggest airline. The Presidency has 10 aircraft in the Presidential Air Fleet. They include, Boeing Business Jet (Boeing 737-800 or AirForce One), one Gulfstream 550, one Gulfstream V (Gulfstream 500), two Falcons 7X, one Hawker Sidley 4000, two AgustaWestland AW 139 helicopters and two Agusta Westland AW 101 helicopters. The combined estimated value of all the 10 aircraft in the fleet of the Presidency is put at over $450 million. Investigations revealed that each of the two Falcon 7X jets was purchased in 2010 by the Federal Government for $51.1 million, while the Gulfstream 550 costs $53.3 million. The Federal Executive Council (FEC) had in 2010 approved the purchase of three aircraft for PAF. The airplanes, which included a Gulfstream G550 and two new Falcon 7X, cost the country $154.3 million. The Presidency yesterday confirmed that President Muhammadu Buhari approved the sale of two aircraft in presidential fleet. The decision for the sale of the aircraft, according to the Presidency, is part of government's desire to cut down cost of governance. A statement yesterday

0.2%

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

102

The sex ratio of women to 100 men (international migrants) of Finland in 2010. Source: Un.org

by the Senior Special Assistant on Media and Publicity to the President, Garba Shehu, said Buhari had promised Nigerians during the campaigns to consider the number of aircraft in the fleet with the view to reducing them. According to Shehu, "this is in line with the directive of President Muhammadu Buhari that aircraft in the Presidential Air Fleet be reduced to cut down on waste. "When he campaigned to be President, the then All Progressives Congress (APC) candidate, Muhammadu Buhari, if you recall, promised to look at the presidential air fleet with view to cutting down on waste. "His directive to a government committee on

this assignment is that he liked to see a compact and reliable aircraft for the safe airlift of the president, the vice president and other government officials that go on special missions.” The Presidency added that the sale of the two aircraft is not the end of the process as others will be handed over to the Nigerian Air Force. "This exercise is by no means complete. Other aircraft within the fleet are expected to be handed to the Nigerian Air Force for their operations. "I am sure the Commander of the Presidential Air Fleet will any time from now, call you to a ceremony at which he will hand over some other aircraft to the Air Force for their operations," Garba added.

The Falcon 7X is a three-engine cantilever monoplane with a low-positioned, high swept wing, with a horizontal stabiliser at mid-height and a retractable tricycle landing gear. It has three rearmounted Pratt & Whitney PW307A turbofan engines, two on the side of the fuselage and one in a centre position. The long-range trijet has room for 20 passengers and two crew. It is the first fully flyby-wire business jet. The Falcon 7X is notable for its extensive use of computeraided design, the manufacturer claiming it to be the "first aircraft to be designed entirely on a virtual platform," using Dassault Systemes. According to an advertorial put up by the chair-

Minister of Information and Culture, Alhaji Lai Mohammed (left) with Chairman, Tony Elumelu Foundation, Mr. Tony Elumelu, after signing a cooperation agreement in Lagos …yesterday

man, Panel for Sale of Aircraft, Office of the National Security Adviser, the performance data of the aircraft with registration number 5N-FGU with serial number 090 shows that it has 5850 nautical miles as range with take-off at sea level of 5,555 feet and landing distance of 2,070 feet, certified ceiling of 51,000 feet with cruise speeds of 488kts. The interior of the airplane is pure luxury with 16-passenger capacity, three crew seating capacity, forward and aft lavatories, four large screen monitors, six small adjustable seat mounted monitors and fully automated media centre. For the Hawker 4000 aircraft (5N-FGX) with registration number 066, the aircraft entered service in 2012, and has flown for just 1178:15 hours. Its range is 3,190 nautical mile, 5,068 feet as its take-off at sea level. It has 2,475 feet as its landing distance; 45,000 feet as certified ceiling and at 482kts cruise speed. The airplane which is in Zurich, Switzerland is also said to be a luxury for the rich. It has nine passenger seat capacity, aft lavatories, two monitors, fully automated media centre and power outlet in cabin and cockpit. The flight deck features a Honeywell Primus Epic avionics/Satcom. Meanwhile, the Nigeria Labour Congress (NLC) has applauded the decision to sell the two aircraft. NLC General Secretary, Dr. Peter Oso-Ezon, told New Telegraph in Abuja yesterday that the Congress had always maintained that

the Federal Government should do all it could to cut the cost of governance, especially in the face of current economic recession. "We have always maintained that government should do all the necessary things to reduce the cost of governance. This is a right decision and we welcome it. "But this should not be limited to the Presidency but to all levels of government. Legislators and state governors should also reduce their cost," he said. Chief Executive Officer Omni-Blu Aviation Services, Mr. Akin Olateru, lauded the move to sell the aircraft. He urged government to do more in reducing further the fleet, describing them as needless. A former commander of the Presidential Fleet, Captain Dele Ore, said he would not know the motive for the sale of some aircraft in the presidential fleet, saying that the Presidency needs back-up aircraft for the president to ensure his security. He wondered what happens in the event that some of the airplanes are faulty, wondering where the backups would come from. Former Chairman, Nigerian Aviation Safety Initiative (NASI), Capt. Dung Rwang Pan, said the sale of two aircraft was a welcome development, saying the Presidency does not need more than three airplanes. His words: “The Presidency has too many airplanes. There are just too many. This action would reduce huge maintenance cost and I am really excited about that.”

2017: FG projects N6.866trn budget, N1.63trn for debt service Chukwu David Abuja

resident Muhammadu Buhari, yesterday, submitted the 20172019 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) to the Senate for consideration and approval. According to the document, which was accompanied by a letter to both the President of the Senate, Dr. Bukola Saraki, and Speaker of the House of Representatives, Hon. Yakubu Dogara, which they read in plenary, the Federal Government has projected the sum of N6.866 trillion budget for the 2017 fiscal year. Out of the N6.866 trillion 2017 budget, the government projects N1.765 trillion for capital expenditure, while N2.563 is for recurrent (non-debt expenditure) and N1.639 trillion for debt service. From the fiscal projec-

tions in the present MTEF, the proposed budget of N6.866 trillion is N806 billion higher than the total appropriation figure of N6.060 trillion for the current 2016 fiscal year. The MTEF also indicated that the Federal Government has proposed oil benchmark of $42.5 per barrel and an exchange rate of N290 to $1 and oil production of 2.2 million barrel per day. Similarly, the Federal Government also made N6.847 trillion and N7.117 trillion budget projections for 2018 and 2019 respectively while further projecting $45 per barrel and $50 per barrel oil benchmark for 2018 and 2019. The document also revealed that the Federal Government proposed 2.3 million per barrel and 2.4 million per barrel oil production for 2018 and 2019 respectively, and projected the exchange rate of N290 to $1 for 2018 and 2019 re-

spectively. Other projected sources of fund for the 2017 budget are: N1.207 trillion independent revenue; N6.549 billion government share of actual balance in special accounts; N9.086 billion as Federal Government's balances in special levies accounts and N50 billion unspent balance of previous fiscal year. Buhari, in a letter dated September 30 and addressed to Saraki, said the submission of MTEF/FSP was in compliance with the provisions of the Fiscal Responsibility Act, 2007. Buhari noted that the 2017-2019 MTEF/FSP articulated the Federal Government's economic, social and development objectives, as well as the strategies for achieving the defined objectives and priorities. According to him, the MTEF document was designed against the backdrop of generally adverse global economic environment as well as domestic

challenges and domestic economy. He said: "I hereby forward the 2017-2019 MTEF and FSP to the Senate and trust that it will be considered and expeditiously approved so as to move the 2017 Budget preparation forward. “The MTEF and FSP, which would provide the framework for the development of the 2017 budget, were designed against the backdrop of a generally adverse global economic environment. It is also to address fiscal challenges in the domestic economy. “In this regard, the 2017-2019 MTEF and FSP articulate the Federal Government’s economic, social and developmental objectives, as well as the strategies for achieving these defined objectives and priorities. “I hereby forward the 2017-2019 MTEF and FSP to the House of Representatives and trust that it would

be kindly considered and expeditiously approved so as to move the 2017 federal budget preparation process forward.” He also commended the partnership between the Legislature and the Executive arms of government, particularly in the passage and implementation of the 2016 Budget. It will be recalled that the Fiscal Responsibility Act (FRA), 2007 makes statutory provisions, requiring the Federal Government to prepare the MTEF and FSP, which is a three-year planning tool that defines government's economic, social and development objectives and priorities. The document also details the strategies towards achieving government's defined objectives, and highlights the key assumptions behind revenue projections, strategic objectives behind the expenditure framework, and fiscal targets over the medium term.

NEWS

WEDNESDAY, OCTOBER 5, 2016 NEW TELEGRAPH

Oyegun to Tinubu: I won't resign as APC chairman

Anule Emmanuel Abuja

ational Chairman of the All Pro g ressives Congress (APC), Chief John Odigie-Oyegun, has told the national leader of the party, Senator Bola Ahmed Tinubu, that he will not resign from his position in the party. Tinubu had, on September 25, demanded Oyegun’s resignation over his role in the emergence of Mr. Rotimi Akeredolu (SAN) as the party's candidate for the November 26 governorship election in Ondo State. Tinubu had claimed that Oyegun overruled a panel set up by the party, which recommended the conduct of a fresh primary election in Ondo. He described the national chairman as a fraud and regressive element, who cares nothing for the progressive ideas upon which the party was founded. Speaking to State House Correspondents after a meeting with President Muhammadu Buhari

at the presidential villa, Abuja, the APC national chairman stressed that there were proper laid down procedures for the removal of the party's leadership. Fielding questions from reporters, the APC chairman said: "The method of getting rid of a national chairman if that is what I will call it, are spelt out in the constitution. They don't take place on the pages of newspapers.” According to Oyegun, as things presently stands, there was no going back on the outcome of the governorship primary election in Ondo State. He said that only the Independent National Electoral (INEC) could upturn the results of the poll. He, however, explained, "there is no rift with Asiwaju. We have difference of opinion, difference of perception and I think that is normal. Yes, I agree that the nature of the statement was a bit harsh. "Do they know how far back our association goes? Do they know that we were in the trenches together in the NADECO days?

"Why can't people who have mutual respect for each other have different opinions? All we had was difference of opinions. Yes, it was expressed a bit harshly, but that doesn't remove the basic fact that we have worked together for a very long time.” Asked why the APC was not calling for National Ex-

ecutive Committee (NEC) to meet over issues within the party, Oyegun said, "NEC will all meet at the appropriate time.” On the party's victory in the recent governorship election in Edo State, Oyegun said it was a hard fought election that was clear. The APC chairman

Felix Nwaneri

ore facts have emerged on the crisis in the All Progressives Congress (APC) over the outcome of the governorship primaries in Ondo State, as the party’s National Vice Chairman (South-West), Chief Pius Akinyelure, yesterday, revealed how National Chairman, Chief John Odigie-Oyegun, and National Organising Secretary, Senator Osita Izunaso, manipulated the process to favour former National President of the Nigeria Bar Association (NBA), Rotimi Akeredolu. Akinyelure, in a state-

ment detailing how the election was rigged, also named the party’s National Secretary, Mai Mala Buni, as part of the conspiracy that denied party members in the state the opportunity of electing who flies APC’s flag in the November 10 governorship election in the state. Akinyelure particularly accused Izunaso of altering the party’s delegates list initially circulated to the 24 governorship aspirants leading to the emergence of a second list meant to favour Akeredolu. He said Izunaso’s action enjoyed the support of Oyegun and Buni even when other members of the

Crude oil theft: FG demands $406.75m from Shell

analysis of bills of laden and shipping documents. Ajogwu, armed with sworn affidavits of three U.S.-based professionals, claimed that Shell cheated Nigeria of the revenue. The professionals included Prof. David Olowokere, a U.S. citizen and lead Analyst at Loumos Group LLC, a technology and oil and gas auditing firm. The others are Jerome Stanley, a counsel at Henchy &Hackenberg law firm and head of the legal team engaged by Loumo Group LLC and Michael Kanko, founder and current Chief Executive Officer of Trade Data Services Company. According to the documents, the consortium of experts tracked the global movements of the coun-

gated the protest. He promised to investigate the incident with a view to finding out those behind it. “God forbid, anybody who knows me knows that, that is not my style. I am equally shocked and I’m going to look into it and find out why and who is behind it,” he said.

APC chair, Izunaso, manipulated APC primaries – Akinyelure

President Muhammadu Buhari (left) and National Chairman, All Progressives Congress (APC), Chief John OdigieOyegun, during a visit to Buhari in Abuja… yesterday.

he Federal Government is demanding $406.75 million from Shell Petroleum Development Company of Nigeria Limited and its subsidiary, Shell Western Supply and Trading Limited, over alleged crude oil theft. The amount, according to court documents presented in Lagos on Tuesday, represents the shortfall of the money the multinational oil firm paid into the Federal Government account with Central Bank of Nigeria (CBN). The money was said to be for crude oil lifted in 2013 and 2014. Prof. Fabian Ajogwu, government counsel, had accused the Anglo-Dutch company of not declaring or under-declaring crude oil shipments during the period, following forensic

also distanced himself from yesterday's protest by youths at the party's headquarters in Abuja against Tinubu. The protesting youths accused Tinubu of highhandedness, saying that he was behaving like an “emperor’’ in the party. But, Oyegun dismissed insinuations that he insti-

try’s hydro-carbons, including crude oil and gas. They identified the companies engaged in the practices that led to missing revenues from crude oil and gas export sales to different parts of the world. They also revealed discrepancies in the export records from Nigeria with the import records at U.S. ports. The undeclared shipments between January 2013 and December 2014 brought the total value of the entire shortfall to $406.75 million, according to the documents. The defendants were said to have failed to respond to a Federal Government letter through its legal representative, seeking clarification to the discrepancies. The Federal Govern-

ment is therefore seeking a court order to compel the two companies to pay $406.75 million, being the total value of the missing revenue and interest payment at 21% per annum. In addition, the government is also asking Shell to pay general exemplary damages in the sum of $406.75 million and the cost of instituting the legal action. However, the Presiding Judge, Mojisola Olatoregun Isola, has adjourned the matter to October 20, for the mention of the case. Meanwhile, the Federal Government has also sued Chevron, Total and Agip, asking for a total of $12.7 billion over alleged nondeclaration of 57 million barrels of crude shipped to the U.S. between 2011 and 2014.

NWC opposed it because it conflicted with APC rules. His statement, which he said enjoys the support of the six NWC members, who were against the stance taken by the national chairman on the Ondo primaries, read in part: “The National Organising Secretary confirmed to the National Working Committee meeting of Monday, September 19 that he actually received objections from some of the aspirants as to the delegates list. Then, he unilaterally made the adjustments as he deemed fit. “It is emphasised that the National Organising Secretary performed these adjustments without recourse or reference to the NWC. The NWC was not apprised of his actions before the primary. The National Organising Secretary then issued this altered list to the Primary Election Committee for use in the conduct of the election. “This altered list became available to some of the aspirants in the early hours of the Election Day, when the election process was about to commence. Chief Rotimi Akeredolu and three other aspirants protested and raised objections as to the delegates list to the Election Committee. However, committee members could not address it, as it was not within their competence to do so. “They went ahead with the conduct of the election. After the declaration of the results of the election by the Election Committee, three aspirants petitioned the Election Appeal Committee alleging discrepancies and the alteration of the delegates list provided to them by the Election Committee and other irregularities. “Consequent on the above, the NWC of the party received both the Election Committee and the Election Appeal Committee’s reports, which were tabled at the its meeting of Monday September 19.” The APC national vice chairman also disclosed that a decision by the party’s NWC to submit the name of an interim substitute to the Independent National Electoral Commission (INEC) until a fresh primary was conducted

suffered a setback, when Oyegun, Buni and Izunaso went ahead to submit Akeredolu’s name in spite of vote in a favour of a rerun primary. “At the NWC’s reconvened meeting of Thursday, September 22, members affirmed their position that the party should send the name of an interim substitute candidate to INEC while we determine the correct list for the rerun. We believed this was a prudent approach in that we had a clear three weeks within which the party could remove the interim candidate with the winner of the rerun primary according to INEC guidelines. “The chairman disagreed, but rather called for a vote. Six out of 11 members raised their hands in favour of submitting the interim substitute (popularly called a dummy), while other members raised objection as to open voting. In defiance of the majority opinion as reflected in the vote of six against five in favour of submission of an interim candidate in clear contemplation of a re-run primary, the National Chairman, National Secretary and National Organising Secretary had secretly prepared nomination documents even before the votes were taken. “Ignoring the vote, they submitted these documents to INEC. In doing so, they violated the spirit and the letter of our party’s controlling rules and regulations as well the democratic ideals upon which the party is founded. They also showed great disregard for the NWC by using our meetings as a false show of democratic practice that would cover the arbitrary and unilateral acts which their offices did not give them the power to take,” he said.

3.19m

The total volume of payment channels made by NEFT of Nigeria in March 2015. Source: National Bureau of Statistics

N145

The average price of Premium Motor Spirit (Petrol) of Plateau State in July 2016. Source: National Bureau of Statistics

NEWS

WEDNESDAY, OCTOBER 5, 2016 NEW TELEGRAPH

Senate probes Presidential Committee on North-East

Chukwu David Abuja

he Senate, yesterday, set up an eight-man Ad hoc Committee, to investigate the Presidential Initiative on the NorthEast, with a view to ascertaining how much has been released to it and how the funds have been utilised from inception to date. The Senate also mandated the Ad hoc Committee to investigate the diversion of grains and other food items from the strategic grains reserves, National Emergency Management Agency (NEMA) and other sources for the Internally Displaced Persons (IDPs). Prior to the above resolutions, the Upper Chamber had decried what it described as Federal Government's poor handling of the humanitarian crisis in the North-Eastern part of the country. The apex chamber warned that unless something drastic was urgently done to salvage the situation, thousands of helpless people living in the various IDPs in the crisis-stricken region might face avoidable deaths. The Senate also indicted the Federal Government for failing to provide relief materials to IDPs to ameliorate the excruciating effects of lack of foods and other basic amenities in camps located in Borno, Adamawa

and Yobe states. These comments and resolutions were made by the Red Chamber, following a motion sponsored by Senator Baba Bashir Garbai (APC, Borno Central) and 18 others, entitled, "Mounting Humanitarian Crisis in the North East. In its consideration of the motion, the Senate alleged that over 4.5 million people were in dire need of assistance while one million people were in danger of extreme malnutrition. Leading the debate on the motion, Garbai lamented that the Presidential Initiative had not shown any tangible result to justify monies appropriated by the National Assembly, of which he said half of it had been released. He also alleged that rather than use the money appropriated for the IDPs and the North East to ameliorate the problems, the disbursements made so far were used for other interests. He cited examples of wastage and diversion of the money meant for the welfare of the people as including "award of N80.7 million to JMT Global Technologies Ltd for rehabilitation of Police Station in Kwambir, N203.357 million to another company, Josman Technologies Limited, for removal of invasive plant species along river channels and another N117 million paid to Lintex International for supply of

temporary shelters with no record of these shelters anywhere." He said: "The Senate notes that the Presidential Initiative on the North East, which was inaugurated by President Muhammadu Buhari a year ago to manage the crisis, is yet to show tangible result on ground with over half of the money appropriated to it released. "Also worried that notwithstanding the huge budgetary allocation by the National Assembly and the various releases by the Executive, including significant donations from many donors, the situation on ground is not cheering. "Rather than use the money appropriated for the IDPs and the North East to ameliorate the problems,

the focus of the disbursement so far made have been used to feather other interests. Of these is replete in the summary of transactions so far released." He further alleged that trucks and food items meant for IDPs were diverted, saying, "there are some allegations of diversion of 63 trucks of grains released from the strategic grain reserves allocated to the IDPs in Borno State by the Federal Government." In his contribution, the Senate Leader, Ali Ndume, appealed to his colleagues to take a decisive stance by insisting that the right thing be done, painting a pathetic picture of the humanitarian crisis in the area and wondered why the Federal Government

$105.63m

The capital importation of the Servicing sector of Nigeria in Q3 2013. Source: National Bureau of Statistics

10.63m

The number of fixed-telephone subscriptions of Australia in 2010. Source: Itu.int

had refused to intervene. Deputy Senate President, Ike Ekweremadu, said that the situation in the North-East could be likened to post-Nigerian Civil War humanitarian crisis in today's South-East, noting that as a witness to the humanitarian crisis, he would support any move to assist the victims. According to information contained in the mo-

Former Minister of Niger Delta Affairs, Elder Godsday Orubebe, at the Code of Conduct Tribunal (CCT) in Abuja ...yesterday.

IMF: Nigeria to exit recession in 2017 CONTINUED FROM PAGE 1

July projection. Nigeria had recorded a 0.36 and 2.06 per cent contraction in the first and second quarter of 2016 respectively, plummeting into its worst recession in 29 years. The Fund said: “SubSaharan Africa’s largest economies continue to struggle with lower commodity revenues, weighing on growth in the region. “Nigeria’s economy is forecast to shrink 1.7 per cent in 2016, and South Africa’s will barely expand. By contrast, several of the region’s non resource exporters, including Côte d’Ivoire, Ethiopia, Kenya, and Senegal, are expected to continue to grow at a robust pace of more than 5 per cent this year.” However, next year, world growth will accelerate to 3.4 per cent on the back of recoveries in major emerging market nations, including Russia and Brazil, the Fund said. Noting that the global economic growth will remain subdued due to a slowdown in the United States and Britain’s vote to

leave the European Union, the IMF forecasts a slight pickup in 2017 and beyond, driven mainly by emerging market strength. “Taken as a whole, the world economy has moved sideways,” said IMF chief economist and economic counsellor, Maurice Obstfeld. “We have slightly marked down 2016 growth prospects for advanced economies while marking up those in the rest of the world.” The report highlighted the precarious nature of the recovery eight years after the global financial crisis. It raised the spectre that persistent stagnation, particularly in advanced economies, could further fuel populist calls for restrictions on trade and immigration. Obstfeld said such restrictions would hamper productivity, growth, and innovation. “It is vitally important to defend the prospects for increasing trade integration,” Obstfeld said. “Turning back the clock on trade can only deepen and prolong the world economy’s current doldrums.”

tion, about N1 billion has been released by the Federal Government, out of the N10 billion budgeted by the National Assembly for resettlement and welfare of IDPs. After its long debate which lasted for about two hours, the senators resolved to contribute N300,000 each to support the victims of terrorism in the NorthEast, which will amount to N31.5 million if the 105 senators complied with the resolution. At the end of the debate, the President of the Senate, Bukola Saraki, set up an eight-man ad hoc committee to be headed by Senator Shehu Sani, to conduct a public hearing on the issues raised and report back in two weeks.

To support growth in the near term, the central banks in advanced economies should maintain easy monetary policies, the IMF said. But monetary policy alone won’t restore vigour to economies dogged by slowing productivity growth and aging populations, according to the new report. Where possible, governments should spend more on education, technology and infrastructure to expand productive capacity while taking steps to alleviate inequality. Many countries also need to counteract waning potential growth through structural reforms to boost labour force participation, better match skills to jobs, and reduce barriers to market entry, he said. Advanced economies, the Fund said, will expand just 1.6 per cent in 2016, less than last year’s 2.1 per cent pace and down from the July forecast of 1.8 per cent. The IMF marked down its forecast for the United States this year to 1.6 per cent, from 2.2 per cent in

July, following a disappointing first half caused by weak business investment and diminishing pace of stockpiles of goods. U.S. growth is likely to pick up to 2.2 per cent next year as the drag from lower energy prices and dollar strength fades. “Further increases in the Federal Reserve’s policy rate should be gradual and tied to clear signs that wages and prices are firming durably,” the IMF said. Uncertainty following the “Brexit’’ referendum in June will take a toll on the confidence of investors. UK growth is predicted to slow to 1.8 per cent this year and to 1.1 per cent in 2017, down from 2.2 per cent last year. The euro area will expand 1.7 per cent this year and 1.5 per cent next year, compared with 2.0 per cent growth in 2015. “The European Central Bank should maintain its current appropriately accommodative stance,” the IMF said. “Additional easing through expanded asset purchases may be needed if inflation fails to pick up.”

Growth in Japan, the world’s number three economy, is expected to remain subdued at 0.5 per cent this year and 0.6 per cent in 2017. In the near term, government spending and easy monetary policy will support growth; in the medium term, a shrinking population will hamper Japan’s economy. In emerging market and developing economies, growth will accelerate for the first time in six years, to 4.2 per cent, slightly higher than the July forecast of 4.1 per cent. Next year, emerging economies are expected to grow 4.6 per cent. However, prospects differ sharply across countries and regions. In China, policy makers will continue to shift the economy away from its reliance on investment and industry toward consumption and services, a policy that is expected to slow growth in the short term while building the foundations for a more sustainable long-term expansion. Still, China’s government should take steps to rein in credit that is “in-

creasing at a dangerous pace” and cut off support to unviable state-owned enterprises, “accepting the associated slower GDP growth” the IMF said. China’s economy, the world’s second largest, is forecast to expand 6.6 per cent this year and 6.2 per cent in 2017, down from growth of 6.9 percent last year. Growth emerging in Asia, and especially India, continues to be resilient. India’s gross domestic product is projected to expand 7.6 per cent this year and next, the fastest pace among the world’s major economies. The IMF urged India to continue reform of its tax system and eliminate subsidies to provide more resources for investments in infrastructure, education and health care. Economic activity slowed in Latin America, as several countries are mired in recession, with recovery expected to take hold in 2017. Venezuela’s output is forecast to plunge 10 per cent this year and shrink another 4.5 per cent in 2017. Brazil will see a contraction of 3.3 per cent this year, but is expected to grow at 0.5 per cent in 2017.

News|NATIONAL

WEDNESDAY, oCTOBER 5, 2016 NEW TELEGRAPH

Afe Babalola writes Buhari on copyright infringement

Tunde Oyesina ABUJA

he law firm of Chief Afe Babalola SAN yesterday called on President Muhammadu Buhari to look into the controversies surrounding an alleged infringement of copyright of Akin Fadeyi’s “Not in my Country” AntiCorruption Campaign by the “Change begins with me” Project. A letter signed by Adeniyi Adenipekun, SAN, on behalf of the law firm, noted that his client, Akin Fadeyi

was the creator of the anticorruption media campaign project “Not in My Country.” He insisted that the ‘Not In My Country’ project had been the subject of a heated media exchange over allegations of copyright infringement and counter-the allegations of blackmail between some actors and other concerned citizens who were privy to the ‘Not in My Country’ anti-corruption campaign project and the Hon. Minister of Information, Culture and Tourism, Alhaji Lai Mohammed. The law firm noted that his client had chosen to re-

main silent for three crucial reasons. “First, our client is a private business man genuinely concerned with advancing our Nigerian society by innovative thinking and development projects, not a politician with any vested interests. “Second, as shown below, the ‘Not in My Country’ anti-corruption campaign project is a product of our client’s lifelong vision to do something towards ridding our society of the cankerworm of decadence. On this point alone, our client has the same goals as the pres-

ent administration in tackling corruption effectively at the grassroots. “Third, our client will not sacrifice this noblest of goals on the altar of claiming his personal individual rights, especially not in a way capable of being bastardized or confused with propaganda, among other distractions. That is not to say our client will not defend his work and hard-earned intellectual property rights in a court of competent jurisdiction at the appropriate time. Indeed, our client awaits Alhaji Lai Mohammed to make good his threats to sue him, in

preparation for which he has instructed our law firm to commence the preparation of processes in answer to any summons filed against him. “Without a doubt, when our client responds to any processes filed, his actions and motives will be clear and unmistakable”. Adenipekun also noted that his client had read every reaction, some spontaneous, some self serving and some others patriotic since Mohammed launched his ‘Change Begins With Me’ campaign.

He said: “Our client has read some concerned public reaction to the campaign questioning the originality of some of its components and accusing the Hon Minister of re-adapting the drama concept of our client’s project to his change campaign. “Our client has read the Hon. Minister’s sponsored and orchestrated media attacks on his person and associates, tagging him as someone “seeking shortcut to success”, a blackmailer etc.” The minister, however told New Telegraph that the matter is in court.

Nigeria secures ICAO Council seat Wole Shadare

N Sokoto State Governor, Aminu Waziri Tambuwal, with former President Olusegun Obasanjo, during the Nigeria Zero Hunger Strategic Committee’s review meeting in Abuja... yesterday

Corruption: EFCC’ll arrest more suspects – Magu ...vows more progress in 12 months

Emmanuel Onani Abuja

he Economic and Financial Crimes Commission (EFCC), is set to arrest and prosecute more politically exposed persons suspected to have stolen public funds, in the days ahead. The Acting Chairman of the Commission, Mr. Ibrahim Magu, dropped the hint yesterday in Abuja, at the unveiling of Creative Youths Initiative against Corruption. While re-stating the readiness of the antigraft agency to go after more persons alleged to

have corruptly enriched themselves, Magu noted that efforts would be intensified at preventing fraudulent tendencies. That was as he expressed optimism, that the anti-graft war would record more progress in the next 12 months, as the Commission hopes to “maintain and sustain” the tempo. He contended that enforcement “alone” cannot win the war on corruption. According to the EFCC’s boss, the need to inculcate the virtue of honour in children had become more compelling, considering the fact that they and wom-

igeria was unanimously voted for by 152 member states of the International Civil Aviation Organisation (ICAO) to secure Council seat in the Part II category at the on-going 39th Assembly of the world aviation regulatory body. This means that Nigeria will be a member of the Council for the next three years before another election. Expressing his happiness on the election, the Minister of State (Aviation) Hadi Sirika, said, “I

Passengers to enjoy free Wi-fi on Delta Wole Shadare

en, are the worst casualties of corruption. “Let me clarify that EFCC will continue to vigorously enforce its mandate alongside engaging in preventive initiatives such as this. “Therefore, even as we appeal to the old and the young to shun corruption and other forms of fraud, expect to see more investigation, more arrests, more trials, more convictions and more recovery of stolen assets. “We are the first to recognize that enforcement alone cannot win the war against corruption. Prevention is an effective and necessary weapon that must be employed in con-

junction with enforcement and there is no group of Nigerians better equipped to wield that weapon than the youths,” Magu stated. He continued: “Let us bear in mind that the task to rid the nation of the corruption cankerworm cannot be left to EFCC and other anticorruption agencies alone. “We are all stakeholders in the war and cannot let the future generations down; it is for their future that we must sacrifice our today. “Let us work together for our dear nation; let us join hands to build for our children the future we desire.”

feel great. I feel that Nigeria has taken its rightful place. We are being elected into Part II yet again. Nigeria has been in this Council since 1962. We have been contributing our quota and aviation has taken the centre stage now in the world especially post 9/11. Security has come to centre stage without diminishing safety.” After the election, the ICAO President, Dr. Bernard Aliu, paid a visit to the Nigeria office at the ICAO headquarters to congratulate Sirika, the Permanent Secretary and aviation chief executives present.

igerian passengers, including those from Accra, Dakar, Johannesburg on America’s flag carrier, Delta Airline are now to enjoy Wi-Fi on their flights to Atlanta as the carrier has completed the roll-out of WiFi on its international fleet, enabling all customers flying on its nonstop services from Africa to Atlanta and New York-JFK to stay connected at 30,000 feet. The final Boeing 777 – one of a number serving Africa – has now been equipped and is back in service. It marks a new milestone for the airline with flights from Accra,

Dakar, Lagos and Johannesburg– offering on-demand Wi-Fi throughout the aircraft. “We know that Wi-Fi is an important part of the travel experience, especially for those flying for business,” said Jimmy Eichelgruen, Delta’s Sales Director for Africa, the Middle East and India. “With Wi-Fi available in every cabin, all our customers can stay in touch with events on the ground throughout their journey. We hope our customers will enjoy this enhanced experience the next time they fly Delta.” Delta’s Wi-Fi is powered by high-speed, KuBand satellite technology and provided by Gogo.

FG confirms existence of poisonous rice Oil export surges, prices reach 4-month high Abdulwahab Isa Abuja

he Federal Government yesterday, confirmed the existence of poisonous rice in Nigerian markets. It vowed to check its smuggling by deploying its various agencies such as Presidential Committee on Trade Malpractices, the Nigeria Customs Service (NCS), Kebbi

State government and the National Agency for Food and Drug Administration and Control (NAFDAC) who would be working as team to halt further infiltration of expired rice via various land borders. The agencies at a joint media briefing yesterday in Abuja, said intelligence report revealed that rice contaminated by dirty waters of the creeks have been smuggled into vari-

ous markets. The expired poisonous rice said to be dangerous to health are capable of causing chronic ailments. Addressing the media, chairman of Presidential Committee on Trade Malpractices, Dahiru Ado Kurawa, said that President Muhammadu Buhari on realizing that Nigeria was capable of producing enough rice, made him to impose ban on the product.

Adeola Yusuf with agency reports

il production and exports from Nigeria have surged, pushing the cumulative output of the Organisation of Petroleum exporting Countries (OPEC) in September to a record high with prices of the commodity also hitting a four-month high yesterday. Nigeria and Libya added a combined 190,000 barrels

a day to increase OPEC output to 33.75 million barrels a day, Bloomberg reported on Tuesday. This came as oil prices rebounded late yesterday, after a drop at early trading with Brent hitting four-month highs on a rally inspired by OPEC plans to tighten output. OPEC crude production rose to a record in September, according to a Bloomberg survey, driven by returning output from Libya and Nigeria, members who

will likely be exempt from last week’s deal to cut supply. Earlier on Tuesday, oil prices had dropped due to a surging dollar, which weighed on greenbackdenominated commodities. Weaker equity prices on Wall Street also limited oil’s run higher. Brent crude was up 13 cents at 51.02 dollars a barrel at early trading but rose to 51.37 dollars as the session peak its highest since June 10.

NEWS | national

wednesday, october 5, 2016 NEW TELEGRAPH

ECOWAS court orders Dasuki’s release

Tunde Oyesina ABUJA

he Economic Community of West Africa State (ECOWAS) Court sitting in Abuja yesterday ordered the Federal Government to release a former National Security Adviser (NSA), Col. Sambo Dasuki (rtd) from deten-

Tunde Oyesina ABUJA

he Code of Conduct Tribunal (CCT) yesterday ordered the confiscation and forfeiture of a landed property belonging to a former Minister of the Niger Delta, Elder Godsday Orubebe, to the Federal Government. The Federal Government had dragged Orubebe before the tribunal on a one-count charge of non-declaration of a landed property situate at Plot 2057, Asokoro district while he was leaving office in 2011.

tion. Dasuki, who is standing trial before three different courts over alleged illegal possession of firearms and diversion of $2.1 billion meant for the purchase of arms, had been in the detention of the Department of State Services (DSS) since December 2015. Dasuki had however approached the regional court to challenge his al-

leged unlawful detention. The ECOWAS court held that the detention of Dasuki violated both national and international laws on the right of persons and citizens to freedom of liberty. Delivering judgement in the suit, Justice Friday Chijioke Nwoke slammed a fine of N15 million against the Federal Government in damages for

the deprivation of his freedom to liberty and the property. The court dismissed the allegations of unlawful possession of firearms and economic crimes alleged by the Federal Government to justify the detention of Dasuki. The court also held that the Nigerian government missed the track because the applicant applied be-

Asset declaration: CCT finds Orubebe guilty, confiscates Abuja property Delivering judgement, chairman of the tribunal, Mr. Danladi Umar, held that having analysed the submissions of parties, it was observed that six years after the transfer had been made, the documents of the land are yet to be registered in Land Registry. He further held that the prosecution had established its case beyond reasonable doubt. He further held that the defendant is under obligation to register the land in

the land registry in Abuja. According to him, “After studying the merit of the case, the tribunal found that the ex-minister had benefited a total of N47 million as salaries during his four-year tenure as minister. “It, therefore, stands to reason that a minister who collects about N1 million per month will be pushed to sell the property at that strategic part of city to offset an acclaimed N10 million rent. “Worrisome also is that

the title document domiciled with the Federal Capital Territory Land Administration still bears the name of the defendant, six years after the acclaimed transaction was carried out. "Failure to register the document at the land registry render the transfer null. In the circumstance, the defendant is still the owner of the said plot 2057, Asokoro District, and not Barrister Akinwumi Ajibola who testified as the Defense Witness 1."

L-R: Fred Edevbiri of the Legal Department, Globacom; Brand Specialist, Ayo-Fasan Temitope; Head, Corporate Sales, Kamaldeen Shonibare; Brand Specialist, Anakwe Ifunanya, and Regional Director, Technical in Lagos, Sanjib Roy, the launch of Nigeria’s 1st 4G LTE nationwide network by Globacom in Lagos…yesterday

Why we set up electoral NERC, govs to meet on power reform committee –FG Johnchuks Onuanyim

Tunde Oyesina Abuja

he Federal Government yesterday said that the various anomalies in the electioneering process had prompted the setting of an Electoral Reform Committee. The committee would study the anomalies and come up with permanent solutions. The Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN, stated this in Abuja during the inauguration of a 24-member committee on Constitution and Electoral Reform. The AGF noted that President Muhammadu Buhari had in his inau-

guration speech stated his desire to deepen the country’s democracy and entrench the culture of an enduring electoral system. “It is important to evaluate our democratic journey thus far with a view to fashioning out a more enduring system that will serve present and future generations.’’ He further noted that recent judicial decisions have shown that there is urgent need to scale up confidence in the electoral system in Nigeria. Malami said that the Chief Justice of Nigeria, Justice Mohammed Mahmoud, had decried the widespread distortion of binding judicial precedent with widespread conflicting judgments

Abuja

he Nigeria Electricity Regulatory Commission, NERC, has proposed a meeting with the governors on the platform of the Governors' Forum for investments in the power sector. The Acting Chairman of NERC, Dr. Anthony Akah, revealed this yesterday when the Governor of Benue State, Mr. Samuel Ortom visited the headquarters of the Commission in Abuja. According to Akah, the proposal for the Com-

3.3m

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

mission to meet with the governors on the business opportunities in the power sector and the need for them to invest in increasing power supply was before the Vice President, Prof. Yemi Osinbajo. He assured Ortom, who was at the Commission Headquarters for a license to construct 10-megawatts power plant in the state that the Commission would assist the state. Ortom, who came with investor, Contec Global, in his introductory remarks, said that the planned power plant with construction cost estimated at $18 million would be dedicated to industrial layouts in Benue State, so as to grow economic activities in the state.

fore the court for the enforcement of his breached and contravened fundamental rights. Justice Nwoke further held that even if the applicant had committed a crime, the law still had it that due process of the law must be observed in his trial as it was an established fact that the applicant was put on trial in three different Nigerian high courts and was granted bails by the courts. In addition, the court held that the action of the government in subjecting the ex-NSA into the indefinite detention without trial was condemnable because criminality had not been established against him. The ECOWAS court noted that the Federal Government was not consistent in its submission that it detained Dasuki without trial because he (Dasuki) was planning to stage a coup and wage war against millions of Nigerians. The court also held that the defendant (Nigeria) was so confused and not consistent throughout in its defence in the suit against it. Justice Nwoke further held that the Nigerian government took laws into its hands and made mockery of the rule of law by arresting the applicant without warrant of arrest or warrant of detention when he had legally been granted bail by the appropriate courts. According to the court, detention order must be made in writing and must be delivered to the detainees. In the instant case, he added, none of such was obtained and delivered to Dasuki by the Federal Government before arresting and executing and forcefully taken away properties of the applicant in his houses in Abuja and Sokoto. The court also dismissed the claim of the Federal Government that

Dasuki was arrested and detained in his own interest, adding that the claim was an assault to the Nigerian Constitution and other international laws because there was no iota of evidence placed before the court that applicant applied for security protection. Besides, the ECOWAS court said that the claim of government that Dasuki was detained in his own interest was against the claim made by the same government that the applicant was arrested and detained because he constituted a security threat to the Nigerian nation and having also committed some economic crimes. The court held that the claim that Dasuki was detained in his own interest was unreasonable and that Nigeria being under a democratic government where the rule of law is expected to be protected ought to act within the ambit of the law since every nation is subject to the rule of law. “Having perused the case before us, we have come to the conclusion that the re-arrest and detention of the applicant after he had been granted bail by three courts since December last year make mockery of the rule of law. Executive arm should not interfere with the judiciary. “Even if the applicant has committed crimes of whatever nature, the principle of innocence must be respected and the fact that he has been charged to court does not disentitled him to freedom of liberty… Court must rise to their responsibilities and prevent executive lawlessness. “It is the applicant today; it could be anybody tomorrow. There is no legal basis for the re-arrest of the applicant other than to circumvent the bails granted by courts. “We have no difficulty in coming to the conclu-

Bankole calls for stronger trade relations between Nigeria, Britain

ormer Speaker of the House of Representatives, Hon. Dimeji Bankole, has called on Nigeria and Britain to discuss modalities for strengthening trade relations between the two countries. Bankole, who was earlier announced as the new voluntary Honorary Vice President of Africa House and the Africa for Growth Initiative, made this call recently at the United Kingdom Houses of Parliament, where he addressed VIPs from the world of politics and com-

merce. They included Lord Oates, Chief of Staff to former UK Deputy Prime Minister, Nick Clegg and Andrew Boff, Chairman of Africa House, a social enterprise initiative that brings high end UK investors to Nigeria. He said the time to renew the trade relations between the two countries was now. He challenged Britain to use its recent Brexit decision as a spur to build stronger, reciprocal trading relations with Africa, especially Nigeria.

national | news

wednesday, october 5, 2016 NEW TELEGRAPH

Embattled judge refutes N200m bribery allegation Umar Abdullahi Sokoto

mbattled Justice judge of the Court of Appeal, Ilorin Division, Justice Muhammad Ladan Tsamiya, has denied receiving N200 million bribe from a petitioner. New Telegraph recalls that Justice M. L. Tsamiya, was fired by the National Judiciary Council (NJC) recently for alleged N200 million bribery scandal. This was contained in a statement signed by the embattled Appeal Count Justice and made available to newsmen in Sokoto yesterday. "My attention has been

drawn to a publication by The Nation newspaper of Saturday, 1st October, 2016 and specially on page 7 thereof with the caption: "NJC Fires Appeal Court Juctice over N200 million bribery scandal." It mentioned that the following allegations were published; "that the Acting Director (Information) of NJC, Mr. Soji Oye, broke the news in the statement that Justice Tsamiya abused his office after he received the bribery in respect of a 2015 election case pending before an appeal panel in which he was a member.” According to him, the said allegations leveled against him were false and unfounded and has caused

serious embarrassment on his person, family and all his friends within and outside Nigeria as well as the NJC. The statement also stated that Tsamiya did not receive bribe from the petitioner or from any other person on the said matter. "I was not a member of the panel that determined the case as stated in the publication. It also said that Tsamiya appealed to the NJC secretary to use his good office and call upon his Acting Director, Information to withdraw "this portion complained of," who would also call upon the said newspaper to withdraw the said statement and apologise for such false statement.

SON goes tough on importers of substandard products Abdulwahab Isa Abuja

mporters of sub-standard products and producers of same in the country will have to weigh the consequences of their actions going by the resolution of the new

management at Standard Organisation of Nigeria (SON) to commence prosecution of culprits. The planned prosecution of such culprits is a fresh idea being introduced by the management in an attempt to rid the nation of the menace of fake products.

The Director-General/ Chief Executive Officer of SON, Aboloma Anthony Osita, announced the new measure yesterday while receiving a formal handover note from his predecessor, Dr. Paul Anyga, who had acted in that capacity since February.

he partnership between the Federal Ministry of Information and Culture and the Tony Elumelu Foundation will help to re-position the creative industry in Nigeria, said the Minister of Information and Culture, Alhaji Lai Mohammed, yesterday. Speaking at a ceremony for the signing of the Memorandum of Understanding (MoU) between the Ministry and the Foundation in Lagos, the Minister expressed hope that the collaboration will be the much-needed catalyst to transform the country's creative industry to a creative economy. “The MoU contained details of how we will work together to execute our partnership. More specifically, the areas of collaboration will include the creation of an enabling business environment for the creative industries with such incentives as easy access to finance; the structuring of the creative industry to enable it generate independent

N153

The average price of Premium Motor Spirit (Petrol) of Kebbi State in July 2016. Source: National Bureau of Statistics

L-R: Mr. Babashola Ogunmosunle; Chairman, Nigeria Union of Journalists (NUJ), Lagos Information Chapel, Mrs. Adeola Lawal; wife of Lagos State Governor, Mrs. Bolanle Ambode; Mr. Tayo Ogunbiyi; Mr. Musbau Rasaq and Mr. Kehinde Adebayo, during the Chapel’s courtesy call and presentation of book, entitled Ambode: Gains of All Inclusive Government, to the wife of the governor, in Lagos …yesterday

Minister: Partnership with Elumelu Foundation’ll lift creative industry revenues locally and also boost exports to increase Nigeria's foreign exchange earnings; and comprehensive statistics about the industry, including its size and projections, to guide potential local and foreign investors,” he said. Mohammed said an innovative part of the collaboration ‘is the plan to con-

Ilorin

professor of Biochemistry at the University of Ilorin, Musa Toyin Yakubu, yesterday said early morning sex is not only good for love life, but very beneficial to the health of couples. Yakubu, who made the observation in his inaugural lecture titled; “Knocking Down the Barriers to Four O'clock Activities and Reproductive Inadequacies,” expressed concern over the rate of erectile dysfunction among men and advocated regular screening/check-ups by individuals. He said: “Four o'clock

vene a Creative Economy Task Force to map the creative industry to provide a better picture of what is happening on the ground and help inform policy development,’ adding; “We also plan to measure the economic contribution of this industry to the Nigerian economy and provide a blueprint for action.”

Benin Crown Prince hails APC, Obaseki's electoral victory Cajetan Mmuta BENIN

he Crown Prince of Benin Kingdom, Prince Ehenede Erediauwa, yesterday commended the leadership of the All Progressives Congress (APC) and the Governor-elect in Edo State, Mr. Godwin Obaseki, over the victory of the party at the poll. Prince Erediuwa also expressed appreciation to Governor Adams Oshiomhole for his doggedness and achievements, describing him as an astute political warrior that had done the state proud. He said due to the tension before the election, “we all went down on our kneels to pray harder

and honestly, our ancestors and God Almighty answered all we prayed for that He should give us a peaceful election and a governor that will keep food on the table of our people and respect the traditional institution.” The Crown Prince stated this when Governor Oshiomhole, his wife Iara, the governor elect, Godwin Obaseki and leaders of the APC, paid him a courtesy visit at his palace at Uselu in the state capital. He commended Oshiomhole for his respect for the traditional institution and called on all Benin chiefs to continue to pray for the outgoing governor and the in-coming one, who he charged to surpass Oshiomhole’s record.

Leadership conference, awards holds Thursday A ll is now set for the annual Conference and Awards Ceremony of Leadership, scheduled to hold on Thursday, October 6, 2016, at the Abuja Transcorp Hilton Hotel by 10am. The conference and awards is an annual event where the Leadership Group celebrates those who had distinguished themselves in the public and private sectors in the

Early morning sex best for health, says UNILORIN don Biodun Oyeleye

activity denotes early morning sex or early morning penile-vaginal intercourse. Erectile Dysfunction (ED) or impotence is sexual dysfunction characterised by the inability to develop or maintain an erection of the penis during sexual activity in humans. A penile erection is the hydraulic effect of blood entering and being retained in sponge-like bodies within the penis. The process is most often initiated as a result of sexual arousal, when signals are transmitted from the brain to nerves in the penis. Speaking on the great value of intercourse, Yakubu said: “Sex is the most powerful creative

force given to man. People should not play carelessly with this powerful force outside the bounds of marriage; if they do, it will destroy them and those close to them.” He added; “Sexual and reproductive dysfunctions are common among men and women in the world, Nigeria inclusive, and as such, regular screening/ check-ups by individuals is highly advocated. Speaking further, he said although, legitimate sex can be performed at any time of the day, the best time to have sexual intercourse is not in the dark night hours, but early in the morning between 3am and 5am, which typically is 4am, hence the term, four

o' clock.” He recalled several divorce cases reported in the newspapers, tracing most of them to sexual inadequacies. Yakubu said: “Having sex first thing in the morning and a minimum of three to four times a week is not only good for love life, but also beneficial health-wise.” He listed the benefits of early morning sex to include: lowering blood pressure, reducing the risk of heart attack by releasing oestrogen in women and protecting against heart diseases and prostate cancer; boosting the immune system by stimulating the body's first line of defense, immunoglobulin A, against cold and fever;

regulating menstruation by influencing the levels of lutenizing hormones that controls menstrual period in women and help sleep better; releasing the feel-good chemical, oxytocin, that enhances closeness with ones' partner and makes people happier for a longer period of time and as a form of exercise, it reduces weight. “Couples and potential couples should be sensitised not to pretend when discussing sexual matters with their partners. The discourse on sexual and reproductive issues should no longer be regarded as a taboo, subject of controversy and extreme secrecy, since they are essential parts of quality of life."

preceding year. This year’s event is significant as it will bring together a serving and two former presidents, governors, legislators, members of the diplomatic corps and elder statesmen to discuss the theme: ‘Democracy, Political Transition and the Challenge of Leadership in Africa.’ The keynote address will be delivered by the Akwa Ibom State Governor, Udom Emmanuel. The Group Managing Director, Dr. Cletus Akwaya, in a statement yesterday, said former Head of State and elder statesman, General Abdulsalami Abubakar, will be chairman of the occasion and is scheduled to present the Persons of The Year Awards to the winners. The trio of President Muhammadu Buhari, former President Goodluck Jonathan and immediate past Chairman of the Independent National Electoral Commission (INEC), Prof Attahiru Jega, are Leadership’s Persons of the Year 2015. The Etsu Nupe and Chairman, Niger State Council of Chiefs, Alhaji Yahaya Abubakar, will be the royal father of the day at the event.

wednesday, october 5, 2016 NEW TELEGRAPH

METRO CBN gov’s wife, our biggest catch

ABIODUN BELLO abiodun.bello@newtelegraphonline.com 08023938212

...CRIME, CITY WATCH, COURTS

IBEDC: 105 electrocuted in nine months Adeolu Adeyemo Osogbo

–Gang leader

...says it was random abduction Juliana Francis

eader of the kidnap gang which abducted Mrs. Margaret Emefiele, wife of the Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, has told police detectives that the woman was the gang’s biggest catch. The suspect, Musa Mohammed, was arrested along with five others. The police are, however, on the trail of five other members of the gang. Mohammed also told detectives that Margaret’s abduction was random, not planned. According to him, it was only after they had kidnapped her that they realised whom she is and started celebrating that they had finally hit it big. “After we kidnapped the woman, we thought God has finally blessed us. But police came and spoilt everything,” Mohammed added.

City Briefs

A source in Edo State Police Command said that Margaret and other victims were abducted by an 11-man-gang. Mohammed told his interrogators that the gang had been in operation, but had never made a big catch, like the abduction of Margaret. He said the gang members were already celebrating when policemen appeared from nowhere and spoilt the party. Gunmen abducted Margaret along with her driver and three other women riding with them in a Sport Utility Vehicle (SUV) on the Benin-Agbor Road on September 29. They were rescued by 12:30a.m. by a team of crack police investigators from the Inspector-General of Police (IGP) Special Intelligence Monitoring Team led by Abba Kyari, a Chief Superintendent of Police (CSP), less than 24 hours after the incident. The source said: “We have six suspects for now, including their leader,

Emefiele

Mohammed. We are presently hunting for five others. There were 11 of them who carried out the operation. Our policemen arrested the suspects in Edo and Delta states.” It was also learnt that before Mohammed and his accomplices abducted Margaret, they had already abducted a man. The man was dragged along to the area where Margaret was abducted. When the kidnappers realised their new catch is the CBN governor’s wife, they allowed the man to go, while basking in the euphoria of Margaret’s abduction. The source said: “The gang had already kidnapped a man some minutes earlier at the same spot. When they found out the identity of the woman, they said they had made a big catch. They immediately allowed the man to go. They said the big fish was enough.”

Father arraigned for defiling daughter Camillus Nnaji

49-year-old man, Anthony Ehimalu, yesterday appeared before an Ikeja Magistrates’ Court 2, for having serial sexual intercourse with his 15-year-old daughter, identified simply as Benita. Ehimalu was also charged with administering anti-pregnancy drugs and drinks on the girl, after each bout of sex. The accused and his family live at No. 82, Shola Martins, New Oko Oba, Abule Egba area of Lagos. It was learnt that Ehimalu from 2015 till date had been sleep-

ing with his daughter and giving her anti-pregnancy drugs and drinks until he was discovered. According to the prosecutor, Inspector Peter Nwangu, the defendant had committed the crime several times, especially when his wife was not around or had gone to work. “He would be left with his daughter who he sleeps The suspects with from 2015 till date. To make the matter worst, he would give the teenage girl Taiwo Jimoh abortion drugs and drinks immediately after each sex. olice have arrested He would then warn her not two teenagers for atto tell anybody about the es- tacking a trader at Sabo, capades.” Ajangbadi area of Lagos

bout 105 people were electrocuted nationwide in the last nine months, according to the Ibadan Electricity Distribution Company (IBEDC). The Osun State Region Health, Safety and Environment Officer of IBEDC, Mr. John Samuel, said this yesterday at a community engagement forum organized by the company in Osogbo. Samuel also disclosed that over 65 people were fatally injured in electricity-related mishaps during the period under review. He expressed sympathy to the affected families but frowned at the way electricians risk their lives on poles carrying high-tension electricity cables all in the name of money making. The environment officer, who condemned the untoward acts of the electricians especially on re-connection of disconnected lines of IBEDC customers, warned them to desist from such to avoid untimely death. He said: “Despite aggressive campaign against the act, many people are still in the habit of citing their businesses under high-tension cables or near electrical installations. “This is uncalled for and the company will henceforth swing into action to deal decisively with whosoever is caught in the act.” Also, Osun Region Branding and Communication Officer of IBEDC, Kikelomo Owoeye, pointed out that the challenge of energy theft had hampered efforts by the company to improve electricity infrastructure. She then charged community leaders to work with security agencies to fish out those always involved in the act.

Teenagers held for stealing

and forcibly removed his wallet and phone. The suspects, Sunday Muali (19) and Lukman Samson (18), were part of the teenage robbers terrorising the residents of

the area before they were apprehended on September 25. According to the state Commissioner of Police, Mr. Fatai Owoseni, the teenagers, who walk in groups, always lay ambush for their victims. He said: “As soon as they sight the person coming, they would attack him or her with dangerous weapons from behind and dispose such person of his/her belongings.” Muali told our correspondent that they used to pretend they are swim-

ming in a stream in the area and rob their victims of their belongings. He said: “On that fateful day, we were swimming when we saw the person we robbed coming towards us. Immediately my colleagues and I were delegated to carry out the operation. “Samson hit the victim with a plank from behind. Immediately he fell down, I removed his wallet. While I was doing that, he tried to drag it with me. But my colleagues and I were able to overpower him.”

METRO

wednesday, october 5, 2016 NEW TELEGRAPH

Ex-minister’s kidnappers demand N10m Ibraheem Musa Kaduna

IG, Ibrahim

Gunmen kill APC chieftain, three siblings in Rivers Emmanuel Masha Port Harcourt

unmen have shot dead a chieftain of the All Progressives Congress (APC) in Rivers State, Hon. Boris Neenwi, disrupting the fragile peace in the Ogoni area ahead of the rescheduled rerun election in the state. Sources said Neenwi, who was once a councillor representing Yeghe was shot dead along with three others, a lady and her two brothers, on Sunday night at Nonwa Junction in Ogoni axis. Although there was no clear description of what transpired before the shooting, reports suggested that Neenwi might have been the target of the gunmen, but killed the other three as collateral damage. The APC chieftain, according to a source,

ended his law programme at the University of Maiduguri a few months ago, and was planning for the victory of his party in the rescheduled National Assembly rerun elections in the Ogoni area. The community where he hailed from, Yeghe near Bori, the traditional headquarters of the Ogoni, has been under military assault for almost a year in pursuit of former militant leader, Solomon Ndigbara aka Osama bin Laden. The state Police Public Relations Officer (PPRO), Nnamdi Omoni, told our correspondent that he had been inundated with calls over the incident. According to him, he cannot make a definite comment until he gets the report from the Divisional Police Officer (DPO) in charge of the area where the incident occurred. Omoni promised to call back but he had not called at press time.

idnappers of former Minister of Environment, Mrs. Laurencia Laraba Malam, and her husband on Abuja-Kaduna Road on Monday have demanded N10 million to release the victims. Speaking on the phone, a source said the family was doing everything possible to raise the money before the kidnappers increased the ransom. “If everything goes as planned, the money will be delivered today (yesterday) and hopefully they will be released,” the source said. According to the source, the family decided to hurry up in meeting the kidnappers’ demand because “if the abductors know Mrs. Malam’s true identity, the ransom could be as high as N1 billion”. Narrating how the incident occurred, the source said that six armed men blocked the Jere-Bwari axis of the Abuja-Kaduna Road about 7p.m. on Monday and asked vehicles from both directions to

Nurse drugs, rapes 19-year-old patient F

or allegedly drugging and raping a 19-year-old girl, a 27-yearold male nurse, Olugbenga Isaac,

Physically-challenged persons storm Ambode’s office, protest arrest Muritala Ayinla

undreds of physicallychallenged persons and traders yesterday marched on the office Governor Akinwunmi Ambode to protest what they described as indiscriminate arrest and harassment in Lagos. They expressed displeasure over alleged detention of physically-challenged artisans as beggars. Armed with placards of various sizes and inscriptions, the protesters called on Ambode “to stop destroying our homes, markets and schools”. Some of the inscriptions on their placards read: “We are in recession now, why destroying our economy?” “We are part of Lagos, don’t displace us.” They claimed they were often arrested under the disguise of removing beggars from major highways. For several hours, the protesters occupied the complex in front of the state House of Assembly before moving to the gate of the Governor’s Office, where they demanded stoppage

of “wanton arrest” of their members. Government had at the last Town Hall Meeting disclosed that 31 Niger Republic destitute/beggars were rescued from the street of Lagos between January and July. The Seriki Arewa of the physically-challenged persons in Agege Local Government, Mallam Haruna Abdullahi, told our correspondent that over 20 physically-challenged artisans were arrested as beggars by government’s officials. Also, Secretary of the physically-challenged persons, Muhammed Zana, said the government’s action was unconstitutional. He said: “The officials do not check. All they do is to arrest any person who is physicallychallenged.” A displaced trader, Matthew Abba, said that hundreds of The protesters traders had

park. “They just stopped everyone on the road and people with expensive cars were gathered on one side. The others were asked to lie face down. “The former minister and other big men were herded into the bush, leaving Malam’s driver behind,” the source added. According to the source, it is doubtful if the kidnappers had known the status and identity of Mrs. Malam during the abduction. “She was not the sole target, the former minister and her husband were just caught up in an operation,” the source said. Narrating his own ordeal, Hon Jonathan Asake, a former House of Representatives member, said that he was on that road when he heard gunshots ahead of him. The former legislator said he and other drivers parked their vehicles and waited as the gunshots continued for about one hour. He said that it took the intervention of a senior Army officer, who had security details on his entourage, to dislodge the kidnappers.

been displaced by the ongoing demolition of structures in Lekki and Victoria Island axis. In a letter of protest sent to the governor and read on their behalf by Raymond Gold, the protesters said they were deeply concerned by the recent crackdown by government on street trading and begging. The letter reads in part: “The attack is on the poor especially persons living with disabilities. It is inconsistent with inclusive governance. “It is pathetic that in spite of our appeal last year against forceful eviction, government

last month evicted some residents of Ilubirin. Such hardline policies do not solve the social problems that plaque Lagos State. It will not put Lagos on the road of achieving the Sustainable Development Goals (SDGs) by 2030. “We call on the Lagos State Government to abandon hardline policies that do not solve social problems. Instead, government should partner local and international agencies in developing strategies that enable informal workers to gradually pull themselves from poverty and enter formal sector.”

was yesterday arraigned before an Ikeja Magistrates’ Court in Lagos. Isaac, a resident of Ajah area of Lagos, is being tried for rape. The prosecutor, Inspector Clifford Ogu, told the court that the accused committed the offence on September 15 at Onipanu, Lagos. Ogu, according to the News Agency of Nigeria (NAN), said that the accused unlawfully had sexual intercourse with the 19-year-old girl. “The accused had sexual intercourse with a woman without her consent,” he said. The prosecutor said that the complainant was sick and called the defendant, a nurse, to treat her. “The complainant had toothache, she called the nurse to administer drugs on her, instead the accused injected her with some substance suspected to be sleeping injection. “The complainant slept off and the accused raped her and left. “The complainant regained consciousness after several hours and was bleeding from her private part, it dawned on her that she had been raped,” he said. The offence, Ogu said, contravened Section 258 of the Criminal Law of Lagos State, 2011. Section 258 provides that if convicted of the offence, the accused is liable to life imprisonment. The accused denied committing the offence, while the Magistrate, Mrs. T. Akanni, granted him bail in the sum of N200,000 with two sureties in like sum and adjourned the case till November 30 for mention.

NEWS | national

Reps demand immediate release of Nigerian students in Turkey Philip Nyam Abuja

he House of Representatives yesterday requested for the immediate release of Nigerians studying in Turkey who have been held in different detention facilities in the wake of the failed coup d'etat in the country. The House equally demanded apologies from the people and Government of Turkey over the ongoing crackdown on Nigerians schooling in Turkish institutions. This was consequent upon a motion under matters of urgent national importance sponsored by Hon. Solomon Maren (PDP, Plateau). In adopting the motion, the House said Nigeria has had enough of Turkey's vindictiveness

Anyanwu

I, formerly known and addresses as Miss Olaogun Nimota Tayo now to be known and addressed as Mrs. Anyanwu Nimota Tayo. All former documents remain valid. Soulmate Industries Limited and general public should take note.

Chingau

I, formerly known and addressed as Usman Abdul now wish to be known and addressed as Usman Abdul Chingau. All former documents remain valid. The General public should please take note.

Olaleye

This is to confirm that the bearer of these names Ibukun Olurotimi Olaleye and Blessing Olurotimi Olaleye refer to one and the same person. Henceforth, I wish to be known and addressed as Ibukun Olurotimi Olaleye. All documents bearing the above mentioned names remain valid. The general public should please take note.

Ugwu

I formerly known and addressed as Onah Nichodemus Ikechukwu now wish to be known and addressed as Ugwu Nichodemus Ikechukwu. All former documents remain valid. UNN and the general public should please take note.

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I, formerly known and addressed as Ugwuoke Uchenna now wish to be known and addressed as Ugwuanyi Bartholomew. All former documents remain valid. Diamond bank Plc and the general public should please take note.

Mbachu

I, formerly known and addressed as Uzoma Ozioma Victor now wish to be known and addressed as Mbachu Victor Uzoma. All former documents remain valid. The general public should please take note.

Umar

I, formerly known and addressed as Umar Faruq Suleiman now wish to be known and addressed as Umar Suleiman. All former documents remain valid. The general public should please take note.

Akpuzo

This is to notify the general public that Iske Akpuzo Silver and Isike John Akpuzo refer to one and the same person. Henceforth, I wish to be known and addressed as Isike John Akpuzo. Also, my correct date of birth is November 3, 1984 and not May 22, 1989. All former documents remain valid. Unity bank Plc and the general public should take note.

against her citizens, warning that Turkey risks indiscriminate arrest of her citizens in Nigeria as reciprocity for the "unjustifiable assault" on Nigerians. The House also resolved to mandate four of its standing committees: Foreign Affairs, Diaspora, Interior and Tertiary Education to conduct urgent and thorough investigation into allegations by the Turkish government that the arrested Nigerian students were involved in terrorism related activities; and that Turkish schools in Nigeria are also owned by individual Turkish nationals who finance terrorism. Maren had in the motion called on the House to urgently intervene in the brewing diplomatic row between Nigeria and Turkey with a view to prevailing on the executive to

necessary steps toward resolving same and secure the release of the arrested Nigerians. It will be recalled that Nigerian students in colleges across Turkey recently cried out that they were being unfairly targeted by the police and other security agencies in Istanbul, Ankara and other major cities in that country. Within the last one week, no fewer than 50 Nigerians have been arrested in Turkey and held in different detention centres around Turkey. Those students deported without evidence of wrong doing alleged breach of their fundamental rights and urged blunt response and thorough investigation into their ordeal. The aggression followed the ill-fated coup in the country on July

CONFIRMATION/change OF NAME

Emmanuel

I, formerly known and addressed as Falodi Ojo now wish to be known and addressed as Falodi Ojo Emmanuel. All former documents remain valid. The Banks and general public should please take note.

Chiaha

I, formerly known and addressed as Miss Opara Stephanie Amarachi now wish to be known and addressed as Mrs. Stephanie Amarachi Chiaha. Former documents remain valid. Medical and Dental Council of Nigeria (MDCN) and general public should please take note.

Seun

This is to confirm that the bearer of these names Oluwaseun Mayowa Makanjuola in my BVN and Makanjuola Mayowa refer to one and the same person. Henceforth, I wish to be known and addressed as Seun Mayowa Makanjuola. All documents bearing the above mentioned names remain valid. The general public should please take note.

Damilola

I, Abdulkareem Taofeeqat Damilola wish to notify the general public and authority concerned that Aluko Damilola Temitope and Abdulkareem Taofeeqat Damilola refer to one and the same person. All documents bearing the above mentioned names remain valid. The general public should please take note.

Okoro

I, formerly known and addressed as Miss Okere Jacob Chidimma Christiana now wish to be known and addressed as Mrs. Okoro Nwachukwu Chidimma Christiana. All former documents remain valid. Zenith bank Plc and the general public should note.

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I, formerly known and addresses as Ayegba Ugbeojo Paul now to be known and addressed as Ayegbe Ugbedeojo Paul. All former documents remain valid. General public take note.

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Christopher

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PUBLIC NOTICE

OBIANYIBUOFU SOCIAL CLUB OF NIGERIA

The general public is hereby notified that the above named CLUB has applied for registration with the Corporate Affairs Commission Abuja, under part 'C' of the Companies and Allied Matter Act 1990. The Trustees are: 1. Ndibunwa Ekene Emma 2. Simeon Friday Agbodike 3. Chukwuji Prince Paul 4. Casimier Obianozie Ulifotu 5. Ekene Iheruo AIMS AND OBJECTIVES ARE: 1. To foster unity, peace and progress among members. 2. To inculcate into members the act of peaceful co-existence,honesty and charity 3. To promote welfare of its members. 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

15. The Turkish government had allegedly traced movement of $2billion said to have been used to fund the attempted coup to a Nigerian bank which in turn wired same to different locations in Turkey. President Recep Tayyip-Erdogan was said to have made tentative overtures to have his Nigerian counterpart sanction the said bank but failed, forcing him to blame the coup on anti-Turkey elements in foreign countries and responded by demanding immediate closure of all Turkish colleges in Nigeria and other countries. The Nigerian government also rejected the call and said it would pursue a diplomatic solution to the crisis, whilst insisting that Turkish schools in Nigeria have denied links to the coup in the absence of any irrefutable evidence of culpability.

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wednesday, october 5, 2016 NEW TELEGRAPH

FG floats N25bn loan scheme for mass transit sector T he Federal Government has set up a N25 billion revolving loan scheme for transport companies in the country to access funds for purchase of mass transit vehicles. The Minister of Industry, Trade and Investment, Mr Okechukwu Enelamah, disclosed this in Abuja yesterday at the opening of a two-day national workshop for chief executives of mass transit companies. Enelamah said that the initiative was aimed at boosting the country’s mass transit system as well as encouraging local patronage of local vehicle

assembly plants. He explained that the loan would be administered through the Infrastructure Bank at zero per cent interest rate. The News Agency of Nigeria (NAN) reports that the workshop was organised by the National Automotive Design and Development Council (NADDC) in collaboration with the Nigerian Institute for Transport Technology (NITT), Zaria. The theme of the workshop is “Nigeria Automotive Policy: A National Agenda for Sustainable Mass Transit Operation Development.’’

N855m fraud: EFCC re-arraigns Indian businessman, 3 bank officials he Economic and Fi- bordering on conspiracy T nancial Crimes Com- and obtaining money unmission (EFCC) yesterday der false pretences. re-arraigned an Indian businessman, Ashok Isran, over an alleged N855 million fraud. Isran was re-arraigned alongside his company, Nulec Industries Ltd., Bank PHB (now Keystone Bank) and three management staff of the bank — Anayo Nwosu, Olajide Oshodi and Sunny Obazee. The defendants were re-arraigned before Justice Kudirat Jose of an Ikeja High Court on an 11-count amended charge

The News Agency of Nigeria (NAN) reports that the defendants were first arraigned in March 2014 on a two-count charge and were granted a N50 million bail each. In the amended charge, the EFCC’s counsel, Mr Rotimi Jacobs (SAN), alleged that the defendants defrauded a businessman, Sir Daniel Chukwudozie, of N855 million between July 2008 and August 2008 in Lagos.

Buhari seeks global alliance against terrorism Anule Emmanuel Abuja

resident Muhammadu Buhari has called on the global community to forge global alliance in intelligence and information sharing to halt the scourge of terrorism. The President said that terrorism was currently haunting both developing and developed countries. President Buhari stated this while receiving Letters of Credence from the Ambassadors of the Republic of Tunisia, Mr. Jalel Trabelsi; Federal Republic of Germany, Dr. Bernhard Stephen Schlagheck; Kingdom of Sweden, Mrs. Inger Ultvedt and the High Commissioner of Canada, Mr. Christopher Thornley, at separate meetings. The President told the Canadian High Commissioner that countries

must always be on the alert, and be willing to share information on activities of terrorists. He said Nigeria received support from several countries to fight Boko Haram insurgents in the North East, after the invitation to the G-7 meeting in Germany in 2015, recording remarkable progress in degrading the group and saving many lives. “The terrorists are all over the place and we must be more watchful. If a developed country like France can be attacked by terrorists to the point of killing about 130 people, then what more of developing countries. ‘‘We need to build and keep increasing our capacities to network and stay ahead. We need to build these capacities across borders because terrorists operate across borders,’’ he said.

family change OF NAME

Ebibomoh

This is to declare that we the children of Pa Appam Seibomoh have agreed to bear our father’s new name Pa Appam Ebibomoh. Therefore, we the sons wish to be known and addressed as 1. Elvis Boladeakpo Ebibomoh. 2. Presley Ebiabode Ebibomoh. 3. Karaide Tony Ebibomoh. 4. Peremobowei Nelson Ebibomoh. All former documents remain valid. Banks, Schools, Ministries and the general public take note.

WEDNESDAY, OCTOBER 5, 2016 NEW TELEGRAPH

Governance For Buhari, the blame game continues

Politics CHUKWU DAVID reports on moves by the the Eighth Senate, which earlier rejected the Gender/Equal Opportunities Bill, is now reconsidering and working towards passing it into law

Interview No regret dumping shipping for politics – Akerele

FELIX NWANERI

GROUP PoLITICAL EDITOR nwanerif@newtelegraphonline.com

Lifeline for Gender Bill

he Gender and Equal Opportunities (GEO) Bill is one of the most controversial bills to be brought to the National Assembly for processing into law. It was introduced in past assemblies but was always thrown out at the stage of second reading. The bill is as contentious as the Petroleum Industry Bill (PIB), which has been in the apex legislative chamber since 2008 without any hope of its passage into law. However, while the PIB is a victim of the centrifugal political dichotomy between the north and southern parts of Nigeria vis-a-vis resource control, the GEO Bill is directly affected by obvious socio-religious cum cultural and legal imperatives within the polity. It is obvious that some cultures and religions do not allow women to operate in certain exalted positions in the society, where they can exert authority over men. Therefore, it is not in doubt that men from this background will frustrate the passage of the bill into law. The present Senate first killed the bill on March 15, when it was considered for second reading. The bill is actually seeking to empower women politically and economically as well as guarantee them equal opportunities with men in the distribution of political offices and in other human engagements. It also seeks to provide equality and eliminate all form of discrimination against women with respect to marital status, education and other social stratifications. Some of those who opposed the bill had argued that most of its provisions were in conflict with the 1999 Constitution of Nigeria, the same reason given by lawmakers in the Seventh Senate, when a similar proposal was also killed. The bill sponsored by the Senate Deputy Minority Whip, Senator Biodun Olujimi (PDP Ekiti South), was entitled, "A bill for an Act to Incorpo-

Saraki

rate and enforce certain provisions of the United Nations Convention on the elimination of all forms of discrimination against women, the Protocol of the African Charter on Human and People's Rights on the rights of women in Africa, and other matters connected therewith.” Olujimi had while presenting the lead debate on the bill, said that it had become imperative for the law to be put in place in the effort to liberate women from all forms of discrimination, suppression and oppression in the country. Senators Ike Ekweremadu (Deputy Senate president) Bala Na'Allah, Ali Ndume and Binta Garba, among others, spoke in support of the bill and asked their colleagues to pass it for second reading. Ekweremadu, in his contribution, said that even though he was in support of the bill, what Nigerians needed to achieve the objectives being sought by the proposal was education, and not legislation. He also cautioned that the parliament should be careful not to make laws that would subject the people to bondage instead of liberating them from certain restrictive legalistic tendencies of law. But Senator Ahmed Sani (APC Zamfara) kicked against the proposal, saying that most of its provisions as articulated then, contradicted some provisions of the 1999 Constitution of Nigeria. He therefore, urged the Senate to either kill the proposal or ask the sponsor to withdraw the bill, rework it and remove all the insertions that run contrary to the nation's law. Senator Adamu Aliero also joined Sani in speaking against the bill,

Olujimi

This bill provides that all appropriate measures be taken to eliminate discrimination against women

saying that it was not only in conflict with the constitution but that it also contradicted some provisions of the Sharia and Common laws. He insisted that there was no need for the Senate to proceed with the bill because it would end in futility. Also, Senator Emmanuel Bwacha, in his views, argued that the bill, if allowed to pass into law would work against morality in the society, as women would take advantage of the provisions to indulge in unhindered freedom that would worsen the state of moral decadence in the country. When the bill was put to voice vote by the Senate president, Bukola Saraki, those who rejected it were in the majority. Olujimi accused some male members of the Upper Chamber of deliberately killing the bill because they wanted to continue to relegate and subjugate women in the scheme of things in Nigeria. She, however, expressed optimism that the proposal would one day pass into law, so that women could have their rightful place in all fields of endeavour in Nigeria. In keeping with her commitment and determination to see the bill is passed into law, Olujimi took back the document, reworked it and brought it back to the Upper Chamber for reconsideration and passage. Consequently, it was re-introduced for first reading on June 15. And on Thursday last week, the Senate approved it for second reading, after some senators spoke in favour of it and persuaded their colleagues to support it. Olujimi, speaking on the lead debate, stressed that the GEO Bill seeks to give effect to the provisions

of Chapter II and IV of the Constitution of the Federal Republic of Nigeria, 1999 (as amended). She also emphasised that the proposed law was intended to promote the equality, development and advancement of all persons in Nigeria, especially young women and children in respect of access to education, employment, healthcare, and others areas. Her words: "This bill provides that all appropriate measures be taken to eliminate discrimination against women in education, employment, occupation, on the grounds of marriage, marital status, maternity, or health status. Additionally, all form of violence against women is prohibited by this bill." Speaking in support, chairman of Senate Committee on Women Affairs, Senator Binta Marsi Garba, emphasised on the need for Nigeria to validate a culture of making women partners in its development. She said emphatically that “we (women) are not trying to fight men.” Senator Oluremi Tinubu, who also spoke in support, said that once passed and signed into law, the GEO Bill would have positive ripple effects in future generations. The Senate Chief Whip, Olusola Adeyeye, said as the country instituted federal character, it was necessary to institute ‘gender character’ mechanisms to combat discrimination in all spheres of national engagement. The Senate president in his remarks said that the passage of the bill for second reading was a clear indication that the 8th Senate is a gender-friendly parliament and will continue to promote gender issues in the country. He assured of Senate's support for equal rights for women, adding that the chamber would continue to promote equality of women in the distribution of positions. He consequently referred the bill to the Committee on Judiciary, Human Rights and Legal Matters for further legislative action, urging members of the committee to expeditiously work on it for early passage. Though the bill has scaled the hurdle of second reading, there is unexpressed apprehension that it might be shot down again at the level of public hearing, where other stakeholders would appear to make inputs. Ekweremadu provoked this latent apprehension when he contributed to the debate on the bill last week. He had urged the Senate to pass the bill for second reading but cautioned that it should be thoroughly scrutinised at the committee level to ensure that its provisions did not conflict with the constitution. While the Senate awaits the report of its Committee on Judiciary, Human Rights and Legal Matters on the bill, only time will tell whether it would be shot down again.

POLITICS PLATFORM

President not distracted by politics of 2019 – Ibrahim National Coordinator of Muhammadu Buhari/ Osinbajo Dynamic Support Group, Hon. Usman Ibrahim, speaks on the need for Nigerians to continue to support the All Progressives Congress (APC)-led Federal Government. Inyang Samuel reports What is the MBO Dynamic Support Group all about and what are its objectives? MBO Dynamic Support Group is a social political pressure group that is made up of patriotic Nigerians, who are on a mission to propagate the ideals of change, not just in the political context, but to elevate the doctrine of modesty, incorruptibility and integrity within the Nigerian socio-political environment and the international community. As a group, we only promote unity, peace and development of the nation and mobilise when necessary to support and encourage the government to faithfully deliver on electioneering promises. We are committed to the Nigerian project and always prepared to work with relevant organisations, including the government to ensure that the country regains its enviable place in Africa and beyond. In that regards, we are duty bound to liaise with the Muhammadu Buhari administration in its bid to create jobs and employment to our nation's teeming youths. We are in the business of governance to lend support to the diversification of the economy through agriculture, solid minerals and industralisation. How would you assess the Buhari government so far vis-à-vis the economic situation of the country? There is no doubt that Nigeria like other nations of the world Ibrahim is going through challenging times. What is important is to look at the bigger picture and act in ways that enhances the greater good of the country. The President's integrity for instance is a commodity that is not negotiable, and whether now, in the short term, or long term, that commodity of integrity will eventually rub off on the country and on the economy. All aspects of national development challenges are currently being addressed. The President is focusing on and supporting agriculture. He has set the pace, so it is now left for us as Nigerians to follow by keying into his vision for the country. As I said before, the economic recession is not peculiar to Nigeria alone. Let's pray and support the President as patriotic citizens so that the nation can quickly

5 Questions come out of the woods. Despite the seeming drop in the President’s popularity and approval rating, your group is still standing with him. To what do you owe this loyalty? Good things don't come easy. The President is steady and focused, so we must take a cue from that. There are projects ongoing all over the country. Even Almighty God that we all look up to does not want money from us, only prayers. So, we should and must continue to pray for the President because he is the last hope Nigerians have. Personally, I am facing economic hardship just like most people in the country. Many people have said that the previous governments didn't help and that the present challenges are traceable to them. My belief is that we should move on; support the President because in the final analysis, the nation belongs to us all. Nigeria's must appreciate when things are good and when they are not, while praying for the President to succeed. What is your take on insinuations that the challenges in government and in the National Assembly are due to positioning for the 2019 general elections? The important thing for us is to focus on the issues at hand and come together as a people towards addressing them in a lasting and sustainable manner. Politicians will always continue to plan and scheme for their next move. That is not a new development and it is not peculiar to our nation. However, while those insinuations may not be completely untrue, it is on record that neither the President nor any of his spokespersons have come out to say that his is planning for 2019. As far as we can see, the government is working hard to deal with the economic and security challenges affecting the country and any talk about 2019 is not a reality that I am aware of or can talk about. In which other ways is your group working for the unity of the country apart from just canvassing support and understanding from Nigerians? We have put in place several strategies towards supporting the unity, peace and development of country. Presently, we have on board, very credible, focused, dynamic and dedicated members in our fold; people whose only objective is how to strengthen the unity, peace and development of Nigeria. Besides that, we constantly conduct research on the economy, power, education, infrastructure, agriculture, mining and industry with the aim of providing policy support to the government.

WEDNESDAY, OCTOBER 5, 2016 NEW TELEGRAPH

For Buhari, the After 16 months at the country’s helms of affair, President Muhammadu Buhari, last week, said he won’t stop blaming past regimes for the nation’s current economic woes. WALE ELEGBEDE reports on the development

“I

am not going to bore you with what we met on ground, I know when I say this, I am going to be accused in the papers of passing the buck, but passing the buck is sometimes absolutely necessary, to remind people who take things for granted. “When we came in by some unfortunate coincidence, I screamed to high heavens because I had promised a lot while seeking votes. I asked where are the savings? There were no savings. There was no infrastructure: power, rails, roads; there was none. I then asked, what did we spend our money on? I was told we spent it on buying food and petrol. “I have bored you with this long explanation, because there are things that could be hidden from you by those that have mismanaged the country in the last 16, 17 years.” These were the words of President Muhammadu Buhari last week while convening his thought on past administrations at an interactive session tagged: “Conversation with Creative Youth,” with some Nigerian youths from the entertainment and fashion industry at the Presidential Villa, Abuja. Similarly, few weeks ago while on a Sallah break in his country home in Daura, Kastina State, the president after observing the Eid prayers to celebrate Eid-elKabir, told newsmen that, “I want Nigerians to realise that what this government inherited after 16 years of PDP government was no savings, no infrastructure, no power, no rail, no road and no security.” The two statements above by the president is perhaps some of the recent comment by Buhari to shed more light on the current economic recession facing the country. After taking over the mantle of leadership of Nigeria some 16 months ago, President Buhari, his vice, Prof. Yemi Osinbajo and a handful of All Progressives Congress (APC) chieftains, have continuously heaped the blame of the economic travails of the country on the Peoples Democratic Party (PDP) which had until its defeat in the 2015 general elections, won four consecutive presidential elections in the current dispensation – 1999, 2003 (Olusegun Obasanjo), 2007 (Umaru Yar’adua) and 2011 (Goodluck Jonathan). For Osinbajo, his principal is on the right track, as he had persistently blamed

Buhari

the country’s present economic woes on the PDP administrations, saying the past government squandered the resources of the country when in power. Speaking last month when he received the Northern States Pentecostal Bishops Forum in his office in Abuja, Osinbajo said, “This country has been badly governed. We are dealing, for instance, with the embezzlement of funds to the tune of $15 billion in one sector alone.” However, many Nigerians appear bored with the buck-passing syndrome and tale of empty treasury as a justification for non-performance after over one year in government. To them, the President and his party were aware of the prevalent situation before they made promises of a better life for the citizenry and they averred that the APC-led government should quit the route of blame-game. But Minister of Power, Works and Housing, Mr. Babatunde Fashola (SAN), justified the habit of reminiscing on the action and inaction of the past administration by President Buhari, stating that the seed of today’s recession was sown by yesterday’s government. Speaking at the Wilson Centre, Washington D.C. at a lecture titled: “Leadership and the Politics of Reform in Africa: Lessons from Nigeria”, Fashola said, “Our government of yesterday expressed its preference for providing ‘infrastructure of the stomach’, giving handouts instead of real infrastructure. “This is how the seeds of today’s recession were sown. For those who say that today’s government should stop talking about yesterday, with due respect, I disagree.” Cautioning the government from its

CROSSFIRE There is crisis everywhere and Oyegun as the National Chairman has not been able to resolve any crisis rather he has caused more crisis for the party -Timi Frank

Tinubu as a leader of the party expressed his personal view; does that mean the party is factionalised? There is no crisis in the party -Tony Momoh

POLITICS PLATFORM

WEDNESDAY, OCTOBER 5, 2016 NEW TELEGRAPH

blame game continues

Jonathan

Akinyemi

habitual blame game, outspoken cleric and Bishop of Sokoto Catholic Diocese, Matthew Hassan Kukah, urged the government to stop lamenting and put in place policies that would check corrupt practices and improve the standard of living of average Nigerian. His words: “The previous government didn’t only do bad things; it did a lot of good things. And I think the business of government is not our business; our business is: if the previous government did badly, that is why we voted a new government. “We didn’t vote a government to complain about yesterday. If we wanted yesterday, the new government would not be there. It is really about taking responsibility. No matter how much you praise or abuse Jonathan, he is not the president of Nigeria.I think that people must understand, you take power to solve problems, not to agonise.” Corroborating the fiery clergyman, former governor of Anambra State, Dr. Chukwuemeka Ezeife, said President Buhari’s blamegame should be over by now, adding that the government should either

We didn’t vote a government to complain about yesterday. If we wanted yesterday, the new government would not be there

Shedding crocodile tears

he outcome of the September 28 governorship election in Edo State has brought happiness and sadness to many people within and outside the state. While winners are in joyful mood, losers are presently not happy. One of the parties that seems to be shedding crocodile tears over the outcome of the election is Young People Democratic Party (YDP). The party according to its agent, Mr. Memeh Samuel, claimed that their poor performance in the election was due to the omission of the party's logo

listen to wise counsel or think out of the box to move the nation forward. His words: “Rather than keep blaming the past government, we should be praying to God to take us out of the situation that we are now. If the President claims that he didn’t inherit anything; let him return us to where we were before he took over from Goodluck Jonathan. That is, let the exchange rate go back to what it used to be; the price of petrol back to what it used to be. He should not bother to do any other thing but return us to where we were before he became president.” Giving his intervention to the blame-game syndrome, former Minister of External Affairs, Professor Bolaji Akinyemi, said its unfair to lay the blames of the country’s current economic woes at the doorstep of past regimes. In a statement signed by the erudite professor of Political Science, Akinyemi, said the current economic recession in the country is a product of the 1999 Constitution (Section 162), that makes it mandatory for all monies collected by the

Federal Government to be distributed among the Federal, State and Local Governments. According to the Deputy National Chairman of the 2014 National Conference, “If we have to lay blame, it should be at the door of those responsible for the 1999 constitution. This does not mean General Abubakar Abdulsalaam alone, or the military regime alone but includes elements of the judiciary and civilians who were all instrumental in midwifing that constitution.” While stating that his intervention is not aimed at defending past presidents or regimes, he noted that, “My intervention is motivated by the desire to focus attention on the solution. It is thoroughly misleading to isolate and demonise past regimes for the situation where Nigeria has no savings. “The fault is in the 1999 Constitution (Section 162) which makes it mandatory for all monies collected by the Federal Government with a few exceptions to be depoisited into a central account and to be distribCONTINUED ON PAGE 15

POLITRICKS

from the ballot papers. But he was cautioned by an official of the Independent National Electoral Commission (INEC), who told him to stop shedding crocodile tears. “YDP should stop complaining about omission of the its logo. They should blame themselves for the omission. The logo on the ballot paper was the logo YDP used for registration of the party. Why didn't the party leaders inform INEC about the change of logo of the party before the election?” He questioned.

Senator Tinubu’s frank talk

n average Nigerian politician is known to be sweet talker and that is why some people don’t trust politicians in Nigeria because they rarely fulfil campaign promises to the electorate. But one politician that has shown that politics is about objectivity is Senator Oluremi Tinubu, the chairman of Senate Committee on Environment. The senator representing Lagos Central senatorial district during a recent town hall meeting with his constituents in Yaba, Lagos

was very frank in responding to requests from her constituents, saying: “I am a legislator and not executive, So, I will not make promises that I cannot fulfil. I have done my beat as a legislator.” Senator Tinubu’s response is commendable unlike some politicians who are in the habit of making promises even they know that they cannot fulfill such promises. Against this backdrop, Politricks suggests that it is high time other politicians learn from Senator Tinubu that politics is not about making empty promises.

POLITICAL NOTES

Unending calls for restructuring T

he need to restructure Nigeria’s political structure in order to save the nation from an imminent collapse has continued to dominate the political space of late. The calls, no doubt are predicated on the dangers of ethnicity, religious bigotry and economic deprivation which are rapid destroyers of any society. While some say that Nigeria is presently on “the road to Sudan,” the question many have asked is: Can Nigeria afford to continue with the present unitary system of government in the guise of federalism. Others have queried whether Nigeria should continue to operate the presidential system of government, a full-time legislature, among others. A political school, which insists that there is no going back on restructuring, is of the view that the manner in which the executive and legislature take a large chunk of the nation’s budget is ridiculous. The presidential system in operation, they further opined, is a complete disaster as it has only succeeded in creating a powerful Federal Government, which sits at the Aso Rock and milk Nigeria dry at the expense of the states and local governments. While the body language of the present administration shows that is unlikely to heed to the restructuring call, there is another political school, which believes that it is time Nigerians took their destiny in their hands by insisting that the nation should not continue to run the way it is. Though this group cautioned against resort to violence, it pointed out that no government should dismiss the wishes and aspiration of the people as the Nigerian Constitution in Section 14(2) of the stated that “power shall reside in the people from whom government shall derive its authorities and power.” Against this backdrop, they argued that it will amount to arbitrary use of power by the government against the citizens, who surrendered their sovereignty to the government in the first place if it continues to shun the calls for restructuring. Consequently, this group urged Nigerians to sustain their demand for the country’s restructuring despite government’s stand as such is the only solution to the conflagration at hand, the end-product of which may be disintegration.

FELIX NWANERI

POLITICS \ INTERVIEW

WEDNESDAY, OCTOBER 5, 2016 NEW TELEGRAPH

No regret dumping shipping for politics – Akerele Mrs. Ifeanyiwa Akerele is the former DirectorGeneral of Nigeria Chamber of Shipping, an office she held for about 11 years before she stepped down and veered into politics to contest election to represent Onitsha North and South federal constituency in the House of Representatives on the platform of the Peoples Democratic Party (PDP). She tells Flora Onwudiwe the challenges she encountered in politics

Can we have an insight into who you are? My name is Ifeanyiwa Akerele. I am the former Director-General of the Nigerian Chamber of Shipping, which is an advocacy organisation and trade facilitator. I resigned and ventured into politics. I am originally from Onitsha in Anambra State but married to a Yoruba, a Lagosian. But when I wanted to go to the House of Representatives, I went back to my state of origin. I ran under the name of Princess Ifeanyiwa Anazonwa; princess because my great grandfather was the Obi of Onitsha at a time. I was nominated by my party, cleared by the Independent National Electoral Commission (INEC) but some kind of magic happened. My name was dropped and somebody else was declared winner of the primaries. I went to court and got judgement at the Supreme Court. The apex court declared that my candidature was recognised, but it was left to the chairman of INEC to decide whether he is going to hand over the Certificate of Return to me or hold on to it. Whatever happened, I don’t regret venturing into politics because I learnt a lot. What was the motivation for leaving the Chamber of shipping for politics? Advocacy is a very powerful tool but I felt that going to the National Assembly would further help me advance the cause of the maritime sector. My aim was to make sure that those things we talked about when I was in the chamber are brought to reality. I wanted to encourage interaction between the private sector, gov-

Akerele

ernment parastatals and everybody that is involved in the maritime sector. I believe that I would have excelled in that position because it is a position of authority and power. I would have also been able to push bills that would have also helped advance the cause of my community. Members of my constituency would have enjoyed lots of empowerment because it is something one can do from the position of power. That was what drove me and is still driving me. At what point did you plan going into politics? I once worked in the National Assembly as Senior Special Assistant to the President’s Liaison Officer. That was probably my first encounter with politics. I was somehow interested with the politicking at the National Assembly, but unfortunately, I got flushed after Senator Chuba Okadigbo was removed as the Senate President. When that happened, I was flushed away and I was left

I was nominated by my party, cleared by INEC but some kind of magic happened

with nothing to do and I did not want to stay on in Abuja. I was a bit disillusioned, so I came back to Lagos and I went to see the founder of the Chamber of Shipping, who is like a mentor to me, Mr. Olisa Agbakoba. I sat with him and we were brainstorming and he said: ‘Ify you are a very resourceful and innovative woman, I have two projects here which I am looking to implement.’ He said one is Chartered Institute of Arbitrators and the other is Chamber of Shipping and he said which do you like. I said I think I prefer the Chamber of Shipping but I have no idea about shipping but somehow I am attracted to it. He gave me a book to read and I discovered that what is really needed was for somebody to do a coordinating role of all the expertise in the sector. I was saddled with responsibility of restructuring the chamber and I said that I will do six months consultancy in setting it up which I did successfully and they said

why can’t you serve as the DG and I said I cannot because I am not a Maritime person. They said no ‘you are an administrator, please use that quality to bring people in to understand what we are doing here. Let them understand the Cabotage Law that then President Olusegun Obasanjo introduced. That was how I got there and it was supposed to be six months. From six months, it extended to a year, two, three years and I did courses concerning shipping. I even went to Cambridge University to do Anatomy of Shipping. I became so exposed and I could not see myself leaving the project that I was building. That is how I found myself there for 10 years. When are we going to see more women participating actively in politics, especially at the levels of governorship and presidency? This is something women need to take serious. It is not just about gathering together, having meetings and hearing one

POLITICS \ INTERVIEW

WEDNESDAY, OCTOBER 5, 2016 NEW TELEGRAPH

or two women who have made marks in the respective professions talk. Women in the media should encourage articles that show that women are pressing for a percentage when it comes to political representation. Rwanda did it. Women should organise themselves in groups which can serve as platforms to articulate their respective positions on issues and take stands. Such groups could be used to make presentation papers on critical national issues like the economic recession that we have at the moment. Such groups can speak on behalf of women on how the recession affects them. There should always be a voice. The chamber of shipping was a voice for the maritime sector. There should be a voice for women in every strata of the society. We have are a lot of women journalists who can ensure that articles are consistently written concerning women‘s opinion. It is not a confrontational movement but it is a movement that will create awareness that women are there and they are a strong force to be reckoned with. What strategies do you suggest for the women folk as the battle to get space in a male dominated polity? Women in the media should have a formal group, so that they can liaise with the larger group of women and there should be mentoring programmes. Women should go through leadership quality training programmes, so that we can put a stop to the issue of women back biting themselves. If such arrangement was in place, women would have spoke with one voice when the National Assembly rejected the Gender Equality Bill. Nigerian women would have marched to the National Assembly to insist on the bill’s passage if there was a synergy amongst them but because there was none, we all kept quiet.

Everything that concern women should be fought for by all women

Some people are of the view that there should be a special consideration for women when it comes to appointments into public offices and nominations for elective positions by the various political parties. Where do you stand on this? You can only get special consideration when you fight for it, when you have made enough case and backed it up with statistics. You have to be consistent before they can say ‘come what do you want?’ It is only when we do this that we can get the government to come up with a policy that will make sure that at least 50 percent of women are considered for opportunities in work place. We should fight for ourselves and get rid of this myth that women are their worst enemies becaue it is not true. Everything that concern women should be fought for by all women – teenagers, young girls, married and unmarried, widows as well as women in top positions. What was your spouse’s stance when you went into politics? He supported me though some people they went to meet him because in our tradition you have to seek the approval of the head of the family on most issues. It was not a surprise to get my husband’s support because he knows that I like serving the community though he said to me that I should not go and get my fingers burnt.

Akerele

As the first female Director-General of the Chamber of Shipping, what are the challenges you encountered? I was the first Director-General, so whether I am female or not is not an issue. Yes, I happened to be the first female to head the organization in a sector that is predominantly male. I will say that the challenges are there because it is a terrain as you know, they talk about seamen. It is only recently that they started talking about sea women. As the Director-General of the chamber, my responsibility was mainly as an administrative coordinator. The maritime sector is made up of versed specializations but my role was bring the different specializations together. If there are bills that are passed, the chamber educates stakeholders on them. For example, the Cabotage Law, which was all about the local content, we had educate the public, especially stakeholders in the sector, what it was all about, you have to educate them on what local content is all about, what is the advantages and disadvantages for them as stakeholders . You can see that my role was mainly to resource and coordinate and organize workshops where professional discussions can take place. So, it was challenging because you are talking to or you are venturing into an area where you expect expertise. You are talking to people who know what they are talking about. There are times they will not know and you may not really know, so I had to try and get brief understanding of most areas in the shipping sector for me not to be left in the dark when experts are talking. I learnt a lot from them and I am happy that the female population in the maritime sector is slowly increasing. We are becoming accepted though we were never rejected. It is just that is an area women never really thought of. The belief was what

is their business, but definitely, there is a lot for women to do in that sector. How do you think government can boost the nation’s economy through the maritime sector? It is a huge area that can be almost second if not at par with the oil sector. You know that oil prices have dropped at the international market. The amount of money that leaves the country through capital flight is massive. Most jobs in the maritime sector are done by foreign vessels. There is a Cabotage Law and the local content policy but the implementation has been very poor, so you can imagine the amount of money Nigerians are losing. Nigerians cannot afford to buy the vessels because they don’t have the kind of support expected from government. There are policies but they are not properly implemented. We are not treated as equals outside the shores of Nigeria because we don’t have the competitive capacity. So, part of my duty then at the chamber then was to get people to be aware that we can do something collectively; that if we keep on articulating our positions and presenting them to the government, one day it will hear us. So, there is a lot of money that can be made from individuals in the sector if we are empowered. How can you explain inability of the banks to invest in the sector? The banks are investing and I can name some of them that are investing. The problem was that information wasn’t as much as it should be to encourage training sometimes it cost money, so some of the banks got their fingers bitten by investing in an area that they are not exactly very aware of. The maritime sector is strongly linked to the oil and gas sector, so the fall in oil and gas sector has affected it.

The blame game continues C O N T I N U E D F R O M PA G E 1 3

uted among the Federal, State and Local Governments.” Quoting the section, he said, “The exact language is as follows: Section 162. (1) The Federation shall maintain a special account to be called "the Federation Account" into which shall be paid all revenues collected by the Government of the Federation,except the proceeds from the personal income tax of the personnel of the armed forces of the Federation, the Nigeria Police Force, the Ministry or department of government chargedwith responsibility for Foreign Affairs and the residents of the Federal Capital Territory, Abuja. "(2) The President, upon the receipt of advice from the Revenue Mobilisation Allocation and Fiscal Commission, shall table before the National Assembly proposalsfor revenue allocation from the Federation Account, and in determining the formula, the National Assembly shall take into account, the allocation principlesespecially those of population, equality of States, internal revenue generation, land mass, terrain as well as population density;(3) Any amount standing to the credit of the Federation Account shall be distributed among the Federal and State Governments and the Local Government Councils in each State on such terms and in such manner as may be prescribed by the National Assembly.” He stressed further that, “No provision was made for savings. This with considerable charity can only be called an unforgivable oversight.” Akinyemi also highlighted the efforts of former president Olusegun Obasanjo and Goodluck Jonathan at ensuring that the nation put in place “savings through the backdoor such as Excess Crude Accounts and Commonwealth Savings Funds. “Both were frustrated by the states and the judiciary. The irony in Nigerian history is that some of the State Governors who spearheaded the opposition to the attempts to save are now prominent in the Cabinet and the Senate.” Giving a way out of the current economic impasse, Akinyemi advice that, “What previous administrations failed to do and which the present Buhari Administration should do is to singlemindedly drive a constitutional amendment that would follow the Norwegian model. “The Norwegian experience involves setting up a Government Pension Fund Global into which 100 per cent of the government’s revenue from royalties and dividends are paid. In any one year, no more than four per cent is allowed to be drawn from the account. “This is the way forward and goes beyond name calling and the blame game,” the statement said. Although the government appears resolute in blaming the past administrations for the current economic tumbling, the question is for how long will that be? Is it a diversionary tactics or a means of bringing Nigerians up to date with the reality of what took place? Time will tell!

WEDNESDAY, OCTOBER 5, 2016 NEW TELEGRAPH

Opinion National Assembly as scapegoat TREASURES BOLA BOLAWOLE turnpot@gmail.com 0807-552-5533 (sms only)

“A Senator earns N36m monthly. If this is divided into two, he collects N18m and the balance of N18m can be used to employ 200 Nigerians who will earn N90,000 per month. 200 persons multiplied by 109 Senators = 21,800 employees. This means that 200 Nigerians can live comfortably on half of a senator’s monthly pay. A member of the Federal House of Representatives earns N25m per month. If this is divided into two, the ‘Honourable’ earns N12.5m per month. The balance of N12.5m will employ 135 Nigerians who will earn N92,500 per month. 135 Nigerians multiplied by 360 ‘Honourables’ in the Federal House of Representatives = 48600 employees. 135 Nigerians can comfortably live on half of the monthly income of just one ‘Honourable’ Member of the House of Representatives. This administration can actually employ 70,400 Nigerians who will earn N90,000 and N92,000 respectively just from the simple reduction of the monthly income of both Senators and House of Representatives’ members. Do the mathematics... Now, it is your responsibility to forward (this) to your Senator and House of Representatives member. CHANGE should begin with the NASS. God bless Nigeria”.

received the above post last Sunday on WhatsApp; the likelihood is that it must have gone viral. I wouldn’t know how the writer got the information on the salary of our Federal lawmakers. This is one secret legislators have guarded jealously, holding it very closely to their chests. Errant members who have dared to cross the line on this issue have been viciously hacked down by their colleagues. Witness the current travails of House of Representatives’ ex-Appropriations

Committee chairman, Abdulmumin Jibrin! Not many Nigerians know the actual salary of our law makers; it remains in the realm of conjecture. All we know is that it is humongous and indefensible. Since they are hiding it, something must be wrong with it. We can as well work with the figures provided above; I do not think any servant of the people of Nigeria should earn even half of the salaries quoted above. I mean; it is horrible that a Senator earns N36m and a Reps N25m per month respectively. If it is per annum, it will be more understandable. So I will like to take at least half of N18million and N12.5 million respectively from each Senator and Rep, meaning that we can add 30,200 more workers to the pay-roll. In all, over 100,000 Nigerians roaming the street at the moment will become gainfully employed if our Federal lawmakers shed some of their voluptuous weight. The question to ask is why government is unable to take this pro-people decision. The same question put in the opposite direction is why are the Federal lawmakers not conscionable enough to take the decision to shed weight on their own volition, without anyone prodding or compelling them. Even with pressure from the people on them to cut costs, the law makers have bluntly refused to budge. We can hazard a guess: The legislators have said time and again that they are being singled out for victimisation in the fight against corruption and or the campaign to cut-the-prohibitivecost-of-governance. Rather than scapegoat them, I would prefer to see them as euphemism for corruption. The Executive is not able to do anything positive about the National Assembly because the Executive is not more patriotic or sensible in the way it, too, treats the common purse. Just as Nigerians have cried non-stop about the insensitivity of the NASS, so also it has complained ad nauseam about the security votes of governors. Governors who cannot pay salaries to their workers take humongous amount as security votes: yet, crime is on the surge na-

The mindless wastage of national resources is not the exclusive preserves of the NASS

tionwide. What, then, are they securing with the huge amount they draw monthly? To make matters worse, this amount is not audited or accounted for. We don’t even know how much, since the Executive, too, guard it as jealousy as the NASS guards its perquisites. Has the Presidency security votes; if so, how much? Corruption or the mindless wastage of national resources is not the exclusive preserves of the NASS; it cuts across. If it is difficult to get the exact amount that the lawmakers draw as salary; it is far more difficult to prise out of the closets what the various arms of the Executive take as security votes. If we know and apply the yardsticks above, the likelihood is that the security votes of some governors\ the Presidency will employ more jobless Nigerians than the entire salary of our law makers. According to some newspaper reports, the Presidential fleet alone has gulped N15billion since President Muhamadu Buhari got into office. How many jobless Nigerians will that fix in paid employment? There is nothing that exposes the wanton destruction of the country by our leaders at all levels than the fact that not less than 70 per cent of our budget is spent on recurrent expenditure. Now that close to 30 out of 36 states of the federation cannot even pay salaries as at when due, what this signifies is that development projects must have ceased in the states. A man who has not yet fed himself and his family cannot save money in a bank or invest in shares or whatever. While it is not a bad idea to continue to put pressure on the NASS to be sympathetic to the suffering of the very people they claim to represent, we should be mindful of the fact that the law makers are not alone in this. Where, then, should the CHANGE start? Let it start from those who not only promised change but also wore it like a toga. We should not let them shift that on anyone. The change starts with them – not with the people. Those who lead must lead not by mere words of the mouth. Leadership becomes infectious when it demonstrates good examples.

FEC yet to decide on assets sale Boniface Chizea

t was announced following the Federal Executive Council (FEC) meeting which was held on Wednesday, September 28, 2016 that while it is true that the Government is working on Fiscal Stimulus to facilitate the country’s exit from the unwelcome recession, that a position has not been taken on whether or not to sell national assets as one of the complement, of policies to be pursued. It is also a matter for the records that the National Economic Council had earlier endorsed the sale of national assets as means to rapidly replenishing the reserves which is now depleted as the struggle to shore up the exchange rate continued. The Senate has also by popular sentiments voted not to support the sale of national assets as a strategy to enable the country get out of the ongoing recession even if the Senate President had early registered his personal support. The organized labour particularly within the oil sector reached beyond its purview as it pledged its resolve to shut down the country should the Government attempt any asset sale. We are of

the view that the mandate of the organized labour is to protect and safeguard the welfare of its membership first of all by securing stability of employment and when there is retrenchment that there is a fair deal and that their retired members are protected through guaranteed investment vehicle to ensure sustenance of regular payments. But when it threatens to bring down the roof if assets are sold, in my humble opinion it has exceeded its mandate and rather encroached in the territory of the Executive that has the mandate to pilot the affairs of the nation. Some prominent individuals including Aliko Dangote, the Governor of the Central Bank, Professor Charles Soludo,Emir Sanusi Lamido Sanusi have also made their voices heard in this respect even as it is true that no assets have been identified so far except for the mention of refineries to make up the list of assets to be sold. But I take a considered view not clouded by sentiments that this country is better off selling some national assets which have proven over the years veritable drains on the resources of this country and have largely contributed to the lack of adequate progress which the country should have made. It is not farfetched to seek to identify why negative sentiments surround the intention to sell some national assets. Citizens look at the record which the country has had with the sale of assets and are discouraged by the incidences of

conflict of interests which pervaded and undermined the realization of the goals and objectives which informed the sale of the national assets and believe that it’s their patriotic duty to refuse to support the sale of national assets as it's being proposed this time. There are of course those who are futuristic in their thinking and are genuinely concerned with the issue of inter-generational equity who have asked the question regarding what then would happen if down the road we now have another recession; what then would be available to sell? Some are also concerned that these assets would be sold and the proceeds deployed for current consumption or even misapplied. No doubt these are genuine concerns but we must endeavour to unshackle ourselves from the past otherwise we would never have the courage to take decisions that might lead us to the Promised Land. What is most important is that we must adopt a mindset that enables us to live in the present circumstances of Nigeria. The country has been certified to be in a recession which in effect means that there are massive job losses with the citizenry being strangulated for loss of purchasing power. To compound matters there is also unprecedented hike in the prices of goods and services across board meaning that the country is really experiencing stagflation which compounds the misery index in the land. Our prayer is that matters do not deteriorate so that the country does not transit into depression.

And the Government cannot just sit on its hands and watch things deteriorate; a development which would spell doom for all concerned and therefore there is the need for urgent action. The country is challenged to find some low hanging fruits it could pluck in this respect. The low hanging fruits which should be attained from rapid and focused implementation of Budget 2016 are begging because of the inability of the Government to source needed resources by way of borrowing as programed in the fiscal plan and therefore even at this point in time in the fiscal year; the fourth quarter we are still discussing approval to borrow and where to borrow from and even if we succeeded we might still not be able to borrow the required amount needed to make the desired impact. And this is the perspective which compels us to believe that all options are on the table including the sale of national assets. While we await the articulation of the stimulus package my take on the matter is that nothing in the circumstances should be considered as being off limit even including the offloading of particularly national assets which in my carefully considered view should include the refineries which have proven to be veritable drain pipe on resources. It is a fact that we had incidences of conflict of interest when we privatized some of our assets in the past. •Dr. Chizea wrote in from Lagos.

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Needless row over LAUTECH

nce again, Osun and Oyo states are locked in a bitter feud over the continued ownership of Ladoke Akintola University of Technology (LAUTECH), a joint legacy asset from the defunct Oyo State. Upon the excision of Osun State from the old Oyo State in 1991, the two states had three options on what to do with the university, established a year earlier by the military administration of Colonel Adetunji Olurin. These included joint ownership or asking the then Federal Military Government to take over the institution. But they preferred the joint ownership to retain the historical ties between the two states. With the main campus in Ogbomoso and its College of Medicine in Osogbo, the two states had managed to jointly run the institution without much rancour until about 10 years ago when a crisis of confidence between the two states turned the tide. The establishment of the Osun State University, a multi-campus institution founded by the administration of Prince Olagunsoye Oyinlola in 2006, but on a private university model; sped up the worsening crisis of confidence that arose from efforts by the Oyo State Government to set up LAUTECH College of Medicine within its jurisdiction. However, unlike its predecessor, which made feeble attempts to set up a medical school in Ibadan for LAUTECH, as a first step to the planned total takeover of the

institution by the Oyo State Government, the Adebayo Alao-Akala administration, in furtherance of these stealth efforts, built a medical school in Ogbomoso. Thence came a campaign to run out all Osun State indigenes, especially those holding managerial positions in the university, as the Alao-Akala administration unilaterally took over LAUTECH. The Oyinlola administration put up a spirited battle to resist this illegality, which violated the law setting up the institution. The two states fought a bitter media war that aggravated the tension between them.

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versity and began driving out Osun State indigenes; asking them to go back to their state. The Osun State Government has kicked against this fresh attempt to “steal” LAUTECH from it. On its part, the Oyo State Government, through its legislature, has tasked the Commissioner for Education, Science and Technology, Prof. Adeniyi Olowofela and his Ministry of Justice counterpart, Mr. Oluwa-

The only way out of this recurring ownership crisis is for the two states to part ways

The Osun State Government, after many failed efforts at ensuring a peaceful resolution of the crisis, headed to the court. Finally, the Supreme Court, in its March 26, 2012 judgement, which was based on the terms of out-of-court settlement, upheld the joint ownership of the university. It also declared as illegal the attempts by the Oyo State Government to lay sole claim to the ownership of LAUTECH. Since then, the institution had managed to run with little ownership crisis, despite the challenges of poor funding caused by the twoowner states, until recently when the Ogbomoso community resorted to brigandage in a bid to take possession of the university. Members of the community invaded the uni-

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seun Abimbola, to submit a report on how to resolve the crises crippling the institution; including how to, on the long run, make Oyo the sole owner of LAUTECH.

Therefore, the only way out of this recurring ownership crisis is for the two states to part ways. This, however, is a long-term solution that would not be easy to arrive at without the cooperation of the Osun State Government. Unfortunately, by resorting to underhand strategy in its bids to convert LAUTECH to sole ownership, the Oyo State Government has not demonstrated good faith that could have secured the cooperation of its Osun State counterpart. It would have been expected that since the law setting up the university contains the process for disengagement of either of the joint owner-states, the Oyo State Government, which is so desirous of the divorce, would have activated the

procedure. However, there is no doubt that the Oyo State Government is afraid of doing so for fear of losing about 75 per cent of the assets of the university to Osun State as prescribed by the law. According to the law, in addition to sharing the assets of the university on equal basis, the party that desires a separation will forfeit half of its shares; representing 25 percent of the total assets of the institution. Given the dire financial situation of the two states, neither of them can afford this. On the other hand, Osun State, which already has its own university, cannot continue to shoulder the burden of funding two universities from its lean purse. Although the Osun State University, which arguably is the most expensive state university in the country, in terms of its fee regime, largely runs on internally generated revenue, it could still do with subvention from its owner to meet its founding philosophy. Given the foregoing, the two owner-states have to eventually find a permanent solution to this intractable crisis to save the future of the institution, its workers and particularly the students whose academic pursuits are being unduly interrupted by the multifaceted crises bedeviling the institution. One way of doing this is through negotiations, which will form the basis for the legislatures of the two states to amend the law setting up LAUTECH that will eventually ease the disengagement.

POLITICS

Oliver Okpala

or some time now, a former governor of Anambra State, Mr. Peter Obi has been making moves to portray the current leadership of the state in negative light and he has been using every opportunity that comes his way to disparage Chief Willie Obiano and his administration in Anambra State. He also used his recent appearance at The Platform, a programme organized by a Church in Lagos to pontificate and embark on a subtle and subliminal detraction from the Obiano administration. But we wish to set the record straight so as to ensure that the unsuspecting people of the state and Nigerians in general are not misled and deceived by the antics of the former governor. Let it be told that at a time during the Obi administration, there were signs of developmental efforts across the state as sustained with media hype. There was equally a much-publicised report of stewardship at the Prof. Dora Akunyili Women Development Centre in Awka where the administration elucidated on its score card. Anambra was showcased as the bedrock of Nigerian economy. The 75 billion naira cash and investment savings said to be done by the administration was showcased and applauded. At the end of the administration, it was said that the government left an excess of 75 billion naira with no liability at all. It was equally said that the administration was not indebted to any organization, individuals or persons. We were told that all the projects undertaken have been paid for. The people were told that no civil servant was owed any salary or allowance. They were equally told many pleasant things of how they managed the state to excellence. But sooner than Chief Willie Obaino mounted the saddle, secret things began to unfold as the new governor wanted to understand and verify what were handed over to him. Surprisingly, funds started disappearing from the already declared accounts. Stale transactions started flying into the accounts. The governor had to scrutinize all the accounts and in this regard, he called for proper audit. It was discovered that the accounts still had many cheques that had not been presented running into billions. It was equally found out that cheques running into billions were given out few hours to handover time and date. Furthermore, taking a closer look at the investments made by the previous administration on behalf of the state, it was found out that some of the bonds were not done in good faith and were not borne out of intelligent investments sense. For instance, what is the rationale behind buying bonds from Ekiti and Osun states? or what is the rationale behind buying bonds from Ghana, Gabon and Equatorial Guinea? Does it mean that Central Bank of Nigeria (CBN) Treasury bills, Bankers acceptance and Commercial Papers are no longer good for investments? How are we sure that those funds are going to come back? More so, when Peter Obi says he left the funds for the Obiano administration, it did not disclose that the maturity dates for most of the investments are in bonds that will mature

WEDNESDAY, OCTOBER 5, 2016 NEW TELEGRAPH

Obi's political gimmicks

Obiano

in 2022, 2023 and 2024. Except for three billed for 2016, 2017 and 2018. But many people do not understand these intricacies as they only rely on what they were told by the previous administration that they left 75 billion naira cash. When Obiano tried to be thorough about Anambra economy, the political contractors and merchants went berserk and accused the governor of squandering the savings left by the previous administration. They have made frantic efforts to confuse the general public, putting stumbling stones on their path to appreciating the real situation of things and the peddling of lies have remained their stock in trade. They have bluntly refused to see the transformation work being done by the Obiano administration because there are bent on pulling him down. So in their bid to achieve this devilish assignment , they resort to all manner of blackmails against him because he has stood firm, insisting on doing what is right and just for the people of Anambra. There is therefore the need for the people to understand the context of the claims that no money was borrowed by the Peter Obi administration. Shortly after assuming office in 2006, the Obi government purportedly secured a loan of 150 million naira for an agricultural scheme but events and checks have since revealed that the money was distributed to the allies of the government. In 2010, after the second term election of the administration, another N1 billion loan was secured for the same purpose from CBN but was also distributed to the friends and allies of the government. These loans are still outstanding and the CBN have sent demand notices to Anambra State for the repayments. They have even threatened to deduct the money from the allocation of the state because of the ISPO (Irrevocable Standing Payment Order) signed by the immediate past administration. This can be confirmed through the Ministry of Agriculture and Anambra Small Business Agency (ASBA). What about the projects that were flagged off at the twilight of Obi administration which were handed over to the current administration?

Obi

The moves by Obi are clear indications of his plan to present another candidate from another political party

Were their bills paid off by the previous administration? Were they categorized as assets or liabilities? these are questions begging for answers and every discerning mind must know the basic truth that since government is a continuum, the Obiano administration has not escaped from its responsibilities, neither has it come out to start complaining of landmines set before it by the past administration since it is a responsible government which only seeks the good and stability of Anambra state and its people. Inspite of the complexities and difficulties of trying to manage the resources of the state in the face of mounting challenges, the paid media hawks have since run to the town with lies that the Obiano administration had abandoned all the projects initiated by the previous government without thinking of the fundamental questions which their propaganda raises. Come to think of it, does the Obiano administration have any justification or advantage of abandoning a project which the previous administration paid for? So the puerile and pedestrian insistence that no liability was left by the previous administration is a great disservice and misleading trap for the people of the state. Moreover, it is on record that the Peter Obi Administration did not embark on any employment into the state civil service, neither did it promote any single civil servant during its eight years tenure until when it was winding up. At that eleventh hour, it employed 5,000 workers and promoted almost all the existing workers, thereby increasing the wage bill which they had not done for eight years. There was no local government election for 8 years but the administration suddenly conducted an election which increased the overheads and the cost of governance for the new government. So it is therefore callous and mischievous for them to now stay by the side and be shouting that Governor Obiano has squandered the savings left by Obi. Even if the Obi administration left some money, is it not for the development of the state and the up-

lifting of the people? But as it has turned out, the fairy tales of monies being left is neither here nor there. Obi and his supporters must realize that there can never be two governors in a state. He has done his part and should therefore allow the current governor to do his. The moves by Obi are clear indications of his plan to present another candidate from another political party other than the All Progressives Grand Alliance, APGA upon which he rode to power. The people must realise and see through these lies that Obi is no longer an APGA member as he has since joined the Peoples Democratic Party, PDP after leaving office, a mark of an ungrateful and self - centred politician who is only interested in using the ladder to climb and destroys it thereafter to prevent others from climbing. But we the people of Anambra are prepared to prove to him that we cannot be deceived or hoodwinked. From our findings, most of the claims he has made to denigrate the current leadership of the state cannot even be substantiated as there are no concrete evidences that he achieved these things while he was in office. Even if he did achieve some things, it must be rightly pointed out that the so called development strides under his administration are products of the APGA manifesto which centres on human development and the dignity of man, and not his personal ingenuity. Therefore the glory for these achievements should go to APGA and not to him as a person. Now that he has joined the PDP, let him focus his attention on seeking other offices if he so wishes and refrain from acts and comments capable of overheating the polity in Anambra state. As a former Chief Security Officer of the state he should know the implications of brewing tension in Anambra especially amidst the biting economic recession in the country. No government would like to see a breakdown of law and order as a result of clashes between political loyalists. If a government has done well it is the electorate that are ultimately the judge. Obi and his cohorts should therefore take solace in the fact that the electorate would be the final arbiter in the matter of deciding the fate of Governor Obiano when he comes to them to seek re- election. We are confident that their judgment would be fair and favorable as the governor has proven to be a firm believer and a practitioner of good governance. Without mincing words, the current leadership of Anambra state under Obiano has been outstanding in its developmental strides of repositioning the state, especially in the area of security, agricultural transformation and infrastructural revolution. We therefore call on our dear governor to remain steadfast and refuse to be distracted by the ranting of a few disgruntled elements who want nothing good for the state but only for their families and cronies. God is with you, the people of Anambra are with you and we will stand by you to ensure that we all get to the promise land. â&#x20AC;˘Okpala, a political analyst, writes from Anambra State

WEDNESday, OCTOBER 5, 2016 NEW TELEGRAPH

Life in the city Denro/Ishashi weep for attention

The Mega City

Life in Mega City Pains of Agiliti residents

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...EXCLUSIVE LAGOS MAGAZINE

Undertakers at work

photo: apamslimited.com

Recession: Undertakers also cry SANDRA DICKSON-OYETAYO takes a look at the funeral business and how the operators have been coping in the face of economic downturn

he conviction of Africans that is, life does not end in death but rather continues in another clime explains why many people spare no expenses in giving their departed ones grand funerals. From the flamboyant ambulance services,

OLUWATOSIN OMONIYI CITY Editor

tosin.omoniyi@newtelegraphonline.com

to high-end venues and caskets, the Nigerian funeral industry is a multimillion naira business which oftentimes outlive its founders, and passed on to children and relatives. But with current economic meltdown, the question will be, “is it still a burgeoning business?” “Times have changed, things are no longer the way they use to be,” laments Rasheed, who doubles as the ‘band’ manager and general manager in one of the funeral homes along Airport road in Lagos. “We have loads of people thronging this place to make enquiries about our services, asking to use our band to entertain their guests, also price the caskets but people only price, then turn around and call a roadside carpenter to make shabby caskets which is far cheaper than what we offer here.” The question now is; are people no longer dying, or are they afraid to die? “Well, people die now more than before due to stress and frustration, just that people can no longer afford our services. There are loads of unclaimed corpses in

Times have changed, things are no longer the way they use to be

the morgue,” Says Ifagbeminiyi, who is an undertaker with Prestige funeral home in Ikeja. He explained that what most people do now is buy plain white clothes and wrap up their dead like the Muslims do. According to him, nothing elaborate, no more elaborate burial and buying costly caskets just to bury a dead body. “Since the beginning of this month, nobody has confirmed their booking with us even though so many people come in daily to make inquiries. Due to the nature of our business, we can’t make noise that our patronage is low but we can only pray that things get better generally in the country.” Cornelius, one of the hangers-on at a funeral home close to LASUTH Ikeja made a startling revelation on the extent some people go to, so that they can have a befitting funeral for their loved ones. “What some hard guys do now is, after people bury their loved ones, some grave diggers who specialise in this dirty business go there, exhume the corpse, strip the deceased of the casket then re-

move the casket and clean it up to resell under the name fairly used! Buyers barely notice the difference but it’s quite cheaper than the ones we sell here. If you bury your dead now and leave it to go home, you may come the next day to find that the coffin has been stolen.” Inadvertently, the agony of low sales despite increasing death rate seems to be shared by all the professionals in the funeral industry. Akinsola Akinwumi, has been in the ambulance service business for close to 20 years, a vocation he took on after his brother became successful in the business. He operates in front of LASUTH, Ikeja. Akinwumi describes the business as lucrative because it is a must for people to die. He believes the death rate in Lagos has reduced since the Okada operators were restricted but slightly jacked up this year because people are frustrated as a result of the bad state of the economy. “The death rate is high now because people have no money CONTINUED ON PAGE 20

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WEDNESday, OCTOBER 5, 2016 NEW TELEGRAPH

CONTINUED FROM PAGE 19

but then, more people are coming into our business so we do not really feel the pressure. A lot of jobless graduates are flocking in the business. “People are finding it hard to cough out the money to pay for our services now. Before, for the local services we render, we only charge N30,000 to go to Owerri. But now, the least I can take a corpse outside Lagos is N70,000 because times have changed.” Mr. Erukubami Magnus is into monuments, exclusively for burial activities and purposes. In his employment are three young men working fulltime and additional two to four freelance staff, depending on the volume of the job, usually brought in to provide support during the installation of a sculpture at a burial site. Erukubami revealed how he inherited the business after his elder brother passed on. He revealed that on the average, he rakes in about N3-5 million annually, which he claims used to be more in the past, but dwindled due to the lull generally experienced by business owners in the country plus so many people flocking into the funeral business now. He further disclosed that the fees charged for each job vary, principally taking into consideration the quality of material needed for the task, as well as the profile and the negotiating power of the client. However, of all the places people are known to eke out a living, Odunlami Street, tucked in the heart of one of the busiest districts on Lagos Island, is more synonymous to funeral activities, as it parades many of the top names in the funeral business. Sauntering through the street, showrooms of these death linked enterprises could be seen all over the place from the beginning of the street to the end. Not surprising many refer to this ever busy street as Nigeria’s Casket market. M.I.C, Ebony, Omega funeral homes among many others, all have their workshops and showrooms there. Some of these casket makers were seen sitting quietly outside their showrooms waiting for their patrons to show up to either buy their well packaged caskets or require other services they offer, which include embalming, ambulance services, undertaking, band boys, grave digging and so on. Some were chatting away. One of the security details standing in front of one of the biggest names in the business was seen giggling with a groundnut seller as he made to pay her for the groundnut he purchased from her. “Has the owner of this job not come for it yet?” Aliu Amusa asked one of his workers obviously due to the frustration as a result of low sales the funeral home seems to be experiencing since the economic downturn. “We have so many coffins here which are imported. Normally when we bring in these caskets, we sell them off quick-

M.I.C Funeral Home on Odunlami Street

Recession: Undertakers also cry ly, within weeks, sometimes we would have ran out but now hardly do people walk in here to buy these caskets as people are finding it harder than ever before to make ends meet. We have even brought down our prices to attract people. Yet, no sales. This 2016 is the worst year ever to business people generally in this country!” he said, adding, “before now, the prices at which we get our materials were like half of what we get now. Yet, we can’t increase the prices in order for us to make some profit on our investment because generally the economy is hard!" Another casket maker on Professional undertakers standing by one of their paid jobs of the street, Bayo Jaiyeoba, also the day complained about low sales. “Our caskets were formerly between N250,000 and N550,000 for the locally made wooden coffins but now we have between N350,000 and N700,000 which is quite considerate due to the cost of sourcing the materials even locally. The imported ones are in millions." Walking into Nigeria’s oldest funeral consulting home, which has been in the business since 1946, the M.I.C Funeral Homes; similar scenario with the homes earlier visited played out. Quietly sitting at the reception desk and eager to have clients come in to make enquiries about the casket People are finding and the other services offered by the company is Mr Toyin it hard to cough out Okusanya, the brother to the the money to pay Casket displayed for sal late CEO of the company. But e his manager, Ayo Onagoruwa, for our services now spoke to New Telegraph. The manager dwelled on es in other to stay in business.” how dollar rate plus inflation He added that the company has adversely affected the busihas recently introduced considness. “All the prices we used erate discounts on their goods to get our materials have gone and services to keep the customers glued to their company, “just up, some have doubled while others have even tripled, which to keep people who are in need of has affected the cost of producour services happy.” tion. Sales have dropped beWhen asked whether there cause people are now careful have been more recorded deaths how they spend money. There due to the recession, Onagoruwa is no loose money anymore. So, replied: "Recession or not, people even though the cost of producdie every day. The funeral busiing these goods have gone up, ness market is growing and as we can't raise the prices. We people die, because we are not the are compelled to reduce the only one in this business, people prices of our goods and servicgo to the others in the business

to equally patronize them. So, to vividly say there are more deaths now due to the economic downturn is hard to tell." On the wide disparity on casket price, Onagoruwa explained. “The variation in the prices is as a result of the variation in sourcing the materials. The imported caskets are very expensive. We recently reduced the rate at which we import our caskets due to high dollar rate. We only bring in imported caskets on order. We source most of our materials locally for now until the dollar stabilizes."

LIFE/IN THE CITY 21

WEDNESday, OCTOBER 5, 2016 NEW TELEGRAPH

Denro/Ishashi: Torn between two states Denro is a border community between Lagos and Ogun states. Most of the residents work in Lagos. It is a community where every lover of peace would prefer to stay, compared to the usual hustle and bustle of Lagos. But constant threat of flood and bad roads may soon force the community to extinction as many of the residents are leaving the community. ALANI OLUSEYI reports

t would be justified to say that Denro community is a place where people live in love and unity, a peaceful place where families are created. It is hard to differentiate between the rich and the poor of this community, simply put; communal living is the core point of existence. Again, accommodations are at affordable price. A decent two bed room flat goes for N250, 000 as against N500, 000 in the city of Lagos while a mini-flat goes for between N80, 000 and N150, 000 depending on the location within Denro community as against N350, 000 - N400, 000 in the city of Lagos. Unfortunately, the story is no longer sweet to the ear. It has changed due to some high level of discomfort the people are facing almost on daily basis during this raining season. Flood has been their constant bane coupled with terribly bad roads. The roads are dented all over with deep pot-holes. Truth be told, no thorough-fare at all. New Telegraph observed that there was no motorable road at all except deep pot-holes for only motorcycle popularly called okada. There was never a smooth ride on Denro road. Rather, it was a body ache ride within 30 minutes ride. The residents are at the mercy of motorcycle riders and a wooden bridge. On the wooden bridge, some men were seen at both end of the bridge collecting a thorough fare of N50 to and fro. According to a resident, the money collected from passers-by are used to maintain the bridge and to serve as their wages. Vehicles coming from the Berger can only stop at the foot of the bridge; there is no road to pass through to the community. As the passengers disembark from the commercial buses, they continue their journey on the wooden bridge after paying the compulsory N50 to be able to enter the community. And coming from the community, they also pay another N50 to climb the bridge to the outside world of Denro. Truth be told, the residents are indeed subjected to untold hardship. According to a resident, the money collected from passers-by are used to maintain the bridge and to serve as their wages Consequently, residents are moving out in en masse out of this area. And for the bold ones who brave staying back in Denro, they make use of wooden canoes at a fee. Also for the half lucky ones, whose environment is not flooded, they have the headaches of the terrible roads to

Residents of Denro Road are at the mercy of Okada riders and a wooden bridge in Ojodu, Ogun State…yesterday

A girl passing through the wooden bridge

make do with. While some complain of merciless flood, others complain of rotten, inaccessible, deeply broken roads. To Faith Emmanuel, a street trader, the flood and bad road are really bad luck to her as it affects their sales. “We are begging the Ogun/Lagos state governments to please come together so as to help us. We need a bridge in Odo Denro to stop the stagnant water and bad roads disturbing us. It is really affecting our sales; it’s hard to make up to N5, 000 daily. The stagnant water is preventing customers from patronising us. If the government is not willing to do a bridge, they should please clear heap of dirt on the road as it is one of the factors bringing about flood to this area,” she said. New Telegraph also spoke with a mason in the area. Lateef Okesola, a mason told New Telegraph that there is always a problem with residents of border communities of Ogun and Lagos states. He believed that none of the state governments wished to claim responsibility for their roads and welfare in general. “We have serious problems on our hands in this community. The people are really suffering. Those working on the Island, Ajah, and even outside Lagos are unable to drive their cars out due to stagnant water in Odo Denro,” he said. Okesola explained that the stagnant water is caused by the uncompleted bridge in Alagbole Akute, another border

PHOTO: GODWIN IREKHE

A car with displayed items for residents of the community passing through the flood

Flood has been their constant bane coupled with terribly bad roads

community between Lagos and Ogun State. “To me, I don’t understand the usefulness of the Bridge they are constructing at Alagbole Akute because it’s not connected to this community. We don’t know why they are even constructing it. Again, there are no light and good motorable roads. We are pleading with the state governments especially Ogun State to take notice of the damaged infrastructures especially the roads," he lamented. Afeez Badmus, a public transport worker complained bitterly about the condition of the community. He believed they are neglected by the relevant government. He said what is damaging their roads and property the more is the stagnant water. “The bad road spoilt my bus, the engine got spoilt and I have spent close to N100, 000 to repair it but all proved to be nothing,” he lamented. Explaining further to New Telegraph, he disclosed that some sharp residents saw opportunity in the agonizing situation of the community. “Somehow, some people quickly turned the situation to money making venture. They carry people on their back across the water for as high as N500 and as low as N50 depending on the distance. It is to and fro business. So, you can imagine how much they make on daily basis,” he said. Yinka Omorayo, a resident of Olutunu also revealed the pains of residents whom she described as helpless. She said, " People are now

packing out of the street, the water is now entering houses, thereby forcing them out. In fact, in some areas, the situation is hopeless as there is no other place to go. "It is rumoured among the residents that the source of the flood is the dam from Ogun state and yet the state government seems insensitive to it. They should please find solution on how to stop thedamp water from disturbing the community." Osogun Sola, also a resident of the area expressed his grief over the issue. He said: “I heard that government cannot construct a bridge in a community that has not reached 10 years of its existence but we need bridge in Denro Isashi. We now pay very high amount of money than what was obtainable. Before now, we pay the minimum and maximum of N100 and N150 from Berger to Denro Isashi, but the story is now different as we now pay the minimum and maximum amount of N250 and N300. I am really fed up. To crown the suffering here in Denro, we have no good roads. We make strenuous efforts in and out of this community. Anytime I board a motorcycle, I have to use pain killers to calm down body aches, and some people are unlucky as they get injured on motorcycle. We beg whichever state government that is responsible for the repair to please urgently come to our aid as the stagnant water has become a nightmare for us," he pleaded.

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WEDNESday, OCTOBER 5, 2016 NEW TELEGRAPH

A resident of Agiliti wading through the flood on her way home

Pains of Agiliti residents moving out of this community to a saner and dry environment. Speaking on their challenges of the community, Olaneye Oyeniyi, a businessman, who has a shop on the Island but lives in the community painted a pathetic picture of the harrowing experience of Agility II residents to New Telegraph. “We need help here. Snakes and other dangerous animals now sneak to our bedrooms, toilets and other places around us. Sometimes, we unknowingly step on broken bottles and other sharp objects that are hidden under this water and they end up piercing our legs. As you can see, we are caged here. I usually come back from my shop on the Island between 10 and 11pm, but which canoe will bring take me to my house

They suffer every three years. While some have become accustomed to the perennial flooding of the area, others are gnashing their teeth in frustration. They are looking up to the government for solution. LADESOPE LADELOKUN and ELIZABETH OGUNBAMOWO report

aking a walk down Ere Jesu in Agiliti II, a community close to the popular mile-12-market in Lagos, nothing immediately suggests a community submerged by flood. Children and adults move freely on dry land; shops were open for businesses, and blast of music of sorts from barbing and hair dressing salons rent the air. But all these only create a façade of normalcy in a community placed on lockdown by floodwater that has caged the people and crumbled their economy. Upon entering further, the real truth about the community is revealed. The people of this community in Lagos State suffer silently a reoccurring tragedy every three years. The problem which lasts for a period of three months anytime it occurs, cause the people unbearable pain. However, they still bear it since they have made futile efforts in trying to get the government’s attention to the area. The area gets flooded at threeyear intervals and dries up miraculously three months after. As such, the residents get themselves prepared for the tragic event, as they have made it a tradition to ensure the availability of wooden boats during this period. At the entrance of the affected community, young men in the business of canoe paddling are spotted wooing potential customers to patronise them.

Getting on a canoe, you are immediately handed a plate to pour out water penetrating the base of the canoe to forestall any eventuality. Entering into the community opens a new book of revelations. For visitors that are unfamiliar with the terrain, the tendency to have their hearts in their mouths is high as cars and tricycles were seen literally floating. Not just that. Shops, schools, churches and mosques were the worst hit as their buildings were seriously submerged in the flood. Different types of reptiles and flood insects were busy having field day in and out of buildings. Most of the buildings submerged in the flood have been placed under lock and keys. There is no vision of living like normal people in an environment. There is nothing like driving in and out or children playing football on the streets. There is nothing also like standing by the road side waiting to take a motorcycle to a destination. The reason is that the community is highly submerged and caged by flood. The situation is as bad as residents complaining of incessant visit of pythons, leeches, scorpions and other dangerous animals. Consequently, most residents are

from the flooded bus stop if I try that now? The problems we face here are numerous. We can’t go to our places of work freely; our children can’t go to school and we are hungry. We are really suffering,” he said For Adeola Ajibike, who has been staying within the neighbourhood for more than 20 years, the situation is no longer strange. “I am very sure that it can’t last more than three months. It is caused by the opening of the Oyan dam, released from Ogun State. This is what we experience at three-year interval. It usually happens around July and August, but this one came late. It started about two weeks ago,” she explained.

There is no vision of living like normal people in an environment

Residents of this building sacked by the flood

CONTINUED ON PAGE 23

LIFE/IN THE CITY 23

WEDNESday, OCTOBER 5, 2016 NEW TELEGRAPH

Performing their 3-year ritual

Residents navigating through the flood

A building with transformer and posters submerged by the flood

A church surrounded by flood

Buildings and a bus submerged by the flood as well

CONTINUED FROM PAGE 22

and problems besetting Agilliti II community, there were those who can’t imagine living somewhere else. To them, there is no place like the community and it is a place they would not like to leave. For instance, Semiu Adeleke has been living in the community for more than 14 years, and to him, there’s no place like Agiliti II. He argued that there is no community without its peculiar problems. “If you come here when there is no flood, you wouldn’t like to live somewhere else. This place is very peaceful and lively. I love this community and I believe other communities have problems peculiar to them. This particular one will pass and we will all be happy again,” he believed. Beyond the sad tale of anguish and untold hardship these residents are experiencing, there

Another resident, Ajoke Ibrahim, says she is not happy living in the community. According to her, she doesn’t have the financial muscle to get herself out of the current hellhole. She lamented that, “I am tired of this place. I pray earnestly to God to shower his blessings on me. I don’t want to live here anymore. I sell bread and the loaves of bread I was supplied three days ago are still there, no one is buying them.” Ajoke is not the only one singing songs of lamentation about crumbling businesses occasioned by flood in the community, Tawa Ojerinde said, “I sell garri, rice, yam flour, beans and other foodstuffs here but since the beginning of this problem, people prefer to buy everything they need outside this community, especially when they are coming back from their work places. My business is currently crumbling. Look at my empty kiosk there.’’ Since many churches and mosques have been overtaken by flood, with some under lock and key, some Christians and Muslims have now resorted to making their homes as their worship centres. “I have stopped going for early morning prayer since this problem started. No one calls us out in the morning for prayer again. The mosques here have been deserted owing to the effect of this flood,’’ said a Muslim in the community. Mrs. Tolani Odebiyi, a member of Celestial Church of Christ, told New Telegraph that members of her church have reduced drastically due to the flood. “Some people still manage to come for Sunday service. But it’s not like when everything was normal. We have reduced in population. Before now, people used to come for spiritual consultation on Tuesdays and Thursdays but all that is now in the past as no one comes for mid week services anymore.” Interestingly, despite the hardship Students boarding canoe to and fro school

We need good drainage system to cushion the effect of this flood on us

are those who make money from the discomfort of the community. For instance, Habib Olanrewaju, said, “Whenever I come back from school around 3p.m., I rent a canoe for N1,000 and before it gets dark, I make N2,000 profit on average daily.” In an interview with New Telegraph, the youth leader of the community, Amusa Gani, said: "This water is not a good one and as it is, it is like a burden on people's neck. We cannot do the normal things we are supposed to do. If government can do something about it, it would be good. It comes every three years. However, in 2014, we did not experience this. So, we all felt it would not come again. We also thought that the end of our problem had come since they have started digging canals at idi oparun, an area round Agiliti but it still came. This problem has made so many people

run away from here." He also revealed that whenever the community gets flooded, it goes with somebody, especially children. On efforts by government to stop the ugly development that has become a recurring decimal in the community, a resident, Jamiu Ayinla, told New Telegraph that, “there is no concrete effort on the part of government to help us. Government has not done anything. There is a canal that is currently being constructed by the landlords of the estate close to us here, but it is not enough. We need good roads and drainage system to cushion the effect of this flood on us. There are other parts of Lagos that are also affected by the opening of the dam but it’s not as bad as this. On the part of landlords of this community, they have pooled resources to construct an improvised bridge that is made of wood, but it’s still not enough. We call on government to come to our aid. We are suffering,” Jamiu said.

24 LIFE/MEGA CITY

WEDNESday, OCTOBER 5, 2016 NEW TELEGRAPH

Paying for comfort of the rich

A mega plaza in Lagos

o an average man on the street of the Lagos, the malls are not for him but for the rich who are more mindful of the comfort of buying than the cost of items. Victoria Okunowu, who has her provision shop opposite a shopping mall along the Jakande Estate way on Isolo /Ejigbo road said she has lost most of her customers to the shopping malls opposite her. According to her, all she beholds is the fashion of carrying branded nylon bags from to and fro the shop. Etuk Friday had his shop at the old Alade market. Today, a new place has been built to relocate the traders to give way to the concessionaire, Master Reality International Concepts Ltd. A company that is to invest N6.9 billion for a 30 year project on a build, own and transfer (BOT) basis at the site, along Allen Avenue, Ikeja. He does not have over N600, 000 needed to get a shop in the new market nor have hope in getting a shop in the dream modern shopping plaza when completed. He decided to go into street trading as a means of survival. “I told myself that I will not steal no matter the situation. I saw my very good friend lynched openly for stealing. It’s not a good experience to

behold. Since I came to Lagos seven years ago, I have never relented in struggling for survival. Even with my shop at Alade then, I still sell in traffic. Today, the government has blanked out street trading. What will people like me do? I tell you the truth; most traders may not survive without street trading. There is nothing wrong with it. Even as we were in shops; we were not making reasonable sales. We took to selling our wares in traffic as succour, and the only means of meeting up.” He said. According to Tolu Joshua, A street trader a politician, with the present economic reality, the government is hypocritical about the situation on ground. He asked, ‘Why would a government that impresses to have the interest of the masses at heart embark on this measure and policy? Government officials Now people find it very difficult to place two square meals carry out policies on their table. There is more against the masses of politics to it than the touted economic development and with impunity building of mega city.” A trader at Aswani market, Vincent Ohobore, said the government has always mentioned that the people are stubborn in obeying orders, which is not

true. It’s the government that always reneges from agreements. “Most at times, government officials carry out policies against the masses with impunity. It’s a common thing to hear from government officials make such comments as; ‘we will do what we want. After all, we are the government, we as well own the courts and the security personnel’ they demolish people’s property without proper notice. It’s only at the Alade market that they have tried to exercise restraint and obeyed court orders. It’s unbelievable. There must be mighty hands behind it.

Check in the history of markets take over and demolition by successive governments in Lagos especially since 2007. Even the demolition at Oshodi, done by this present government as well, the traders were never given any consideration” He went on to call on the government to always show patience with Lagosians in their desire to turn Lagos into London not minding the fact that her citizens are wallowing in abject poverty. Ohobore maintained that the Malls being built all corners of Lagos have no room for the poor people who are in greater number. “The time they finished Aswani modern market, they shared the stalls to wives of government officials who in turn rented the stores above one million naira. How many of us then had such money? Street trading is a phenomenon everywhere in the world especially third world countries. If they give us the necessary things we need to survive, I doubt if anyone will still like to operate traffic sales unless for those who see it as a means of advert to their new products to the world especially tourists.” However, according to the Executive Chairman of Coalition Against Corrupt Leaders, Mr. Debo Adeniran, the coalition is against the anti-street hawking law of Lagos State government since poverty is everywhere in the land. He advised the government to provide barricaded spots off the road where the hawkers could be patronized rather than banning them. “For the fact that government has not made any provision to provide our teeming unemployed youths job and keep them away from major roads, it’s wrong for the government to entreat a law as the ant-hawking law, considering the realities on ground today. No doubt, we are not supporting anyone constituting a nuisance on the roads, subjecting the poor to paying for the convenience of the rich is what we vehemently oppose,” he said.

QUOTE

OF THE WEEK

One of the things that drive this government is the passion to grow and empower our youths. One of the areas through which we can articulate these is through the Information Communication Technology (ICT). We are in the era of digital revolution. Commissioner for Science and Technology, Mr. Femi Oduniyi

IN NUMBERS OC T.

It seems the trendy thing in all corners of Lagos nowadays is the high spate of building of shopping malls. This appears to have taken away business places from the common people who have turned to street traders since they cannot afford to pay for the modern shops. EZURIKE UGOCHUKWU writes

1,000 houses to go for lagos-abeokuta road expansion

WEDNESDAY, october 5, 2016 NEW TELEGRAPH

FCT Business Watch

Business

Tax incentives: Delicate options before government

Money Naira continues to struggle

27 28

What's new Banking stocks down by N157bn in Q3

L-R: Head, Membership Affairs and Services, Chartered Institute of Personnel Management (CIPN), Mrs. Titi Ashiru; Acting Managing Director, Bank of Industry (BoI), Mr. Waheed Olagunju; Registrar/CEO, CIPN, Mr. Sunday Adeyemi and Dr. Michael Olawale Omolayole, during the 32nd Omolayole Management Lecture Series in Lagos. PHOTO: SULEIMAN HUSAINI

p.26

Nigeria’s palm oil production hits N218.5bn

Broadband: FG begins Phase 2 of InfraCo licensing

p.26

●Says 30% penetration achievable

HOPE Various initiatives being put in place by the regulator point to the country’s ability to achieve pervasive high-speed Internet access in the next few years

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

Kunle Azeez

he Federal Government has commenced the process of licensing the remaining five broadband infrastructure companies (InfraCos) in line with is target to accelerated ubiquitous high-speed Internet penetration in the nation’s telecoms market. This is as government gave assurance that its target broadband penetration of 30 per cent by 2018 was still achievable, having attained 20 per cent mobile broadband penetration, according to United Nations’ Broadband Commission for Sustainable Development report.

In a document obtained by New Telegraph, government’s telecoms regulatory agency, the Nigerian Communication Commission (NCC), disclosed that the licensing was in pursuance of its mandate to implement the Open Access model for next-generation optic fibre broadband network in the country. According to the document, the Commission said the Phase 2 of the licensing would see licensee emerging each for North East, North-West, South-South, SouthEast and South-West Zones. The NCC, had, last year, selected MainOne Consortium and IHS Consortium as InfraCos for Lagos and North Central zones respectively, after due consultations and evaluations in the first phase. “The Nigerian Communication Commission (NCC) on behalf of the Federal Government of Nigeria announces its intention to commence Phase 2 – license of InfraCos for North-East, NorthWest, South-South, South-West and South East zones. “The InfraCos will deploy

152.8 billion Being the latest active telephone lines in the Nigeria’s telecommunication industry

metropolitan fibre infrastructure within its assigned territory on an open access, nondiscriminatory, price regulated basis. “The Open Access Model has been examined and found to be an appropriate model for Optic Fibre backbone infrastructure in Nigeria to bridge the current broadband gap and deliver fast, reliable broadband services to households and businesses. “It is envisaged that this initiative will address the challenges of congested transmission network and also mitigate the challenges arising from infrastructure sharing and Rights of Way issues. “In this project, the Federal Government shall provide financial support in the form of subsidy, which shall be competitively determined to facilitate rollout obligations.” Director, Public Affairs, NCC, Mr. Tony Ojobo, explained that the Request for Proposal (RFP) document detailing the commercial principles, key licensing conditions CONTINUED ON PAGE 26

Taiwo Hassan

Industry, Agric & Brands Editor

Kunle Azeez

Senior Correspondent

Chuks Onuanyin Energy

Nnamdi Amadi Reporter

Johnson Adebayo

Asst Production Editor

Rates Dashboard INFLATION RATE August 2016 ..........................17.61 % July 2016.................................17.1% June 2016 ..............................16.5%

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

EXCHANGE RATE

(Parallel Market as at September 30)

USD . . . . . . . . . . . . . . . . . . . . . . N475 Pounds . . . . . . . . . . . . . . . . . . . N580 Euro . . . . . . . . . . . . . . . . . . . . . . N500

l Foreign Reserves – $24,566,419,718bn as at 29/9/2016

(Interbank as at September 30)

USD . . . . . . . . . . . . . . . . . . . . . N305 Pounds . . . . . . . . . . . . . . . . . . N397 Euro . . . . . . . . . . . . . . . . . . . . . N347

Source: CBN

WEDNESDAY, october 5, 2016 NEW TELEGRAPH

BUSINESS |news

Banking stocks down by N157bn in Q3 APATHY

Poor financial results, volatility in exchange rate eroded investors’ confidence

Chris Ugwu

hareholders of banks quoted on the main board of the nation’s stock market recorded a loss of about N157 billion in the third quarter of the year following the upset in the financial market arising from drop in oil price, instability in forex and poor half year 2016 financial results. The sector recorded the loss despite expectations that the recent adoption of a more

FG begins Phase 2 of InfraCo licensing

flexible exchange rate policy by the Central Bank of Nigeria (CBN) would lift the stocks. Checks by New Telegraph showed that the banking subsector recorded a loss of N157 billion or 9.86 per cent to close at N1.435 trillion in market capitalisation on September 30, 2016, as against closing figure of N1.592 trillion at the beginning of third quarter trading on July. The banking industry has remained one of the sectors that has fallen victim to the persistent macroeconomic headwinds that have weakened consumer purchasing powers and eroded earnings of companies including banks. Nigerian lenders are grappling with reduced credit growth due to lower loan demand, higher impairments from oil & gas exposures and increasing regulatory capital requirements. Investors who were making

inroad back to the equities market following intervention by government to give the economy clear direction especially to bring lasting solution to the crashing naira have made a retreat, as the intervention seemed not to have saved the local currency. Other militating factors such as drop in the crude oil price, depressed consumer purchasing power and expected weak corporate earnings have also further kept investors at bay from the local bourse. As a result of the weak macro-economic environment, investors seem not to be willing to stake their funds on equities listed at the Nigerian Stock Exchange (NSE), thereby leading to current free-fall of prices of stocks. A further checks of some banking stocks across board also revealed that the prices of stocks quoted on the floor

of the Exchange that had been beaten down were further depressed presently, as investors continued to be wary of taking investment positions. For instance, during the period under review, Diamond Bank’s stock price dropped by 46.67 per cent or N1.05 to N1.20 per share as at September 30 from N2.25 it closed at June 30. Ecobank Plc’s stock price declined by 30 per cent N4.8 to close at N11.50 per share from N16.00 during the same period. Unity Bank Plc’s share price dipped by 29.80 per cent or 31 kobo, from N1.04 to 73 kobo per share during the period under review, among others. Financial analysts, who had predicted lower profits for quoted companies attributed the development to lower national imports due to foreign exchange challenges, lull in economic activities and slow implementation of the 2016 budget, among others.

The Managing Director, Cowry Assets Management Limited, Mr. Johnson Chukwu, said banks made higher provisions for bad loans in their second quarter results due to the lull in economy, slow implementation of the budget and reduction in their income lines and profits. Chukwu noted that banks’ income lines have reduced due to the foreign exchange challenges in the country, adding that many banks cannot engage in trade finance, as they should have done due to scarcity of forex. According to him, lending that should go to the Federal Government contractors could not happen due to the late passage and implementation of the budget. “And more importantly, they will experience higher provisions for bad loans due to the lull in economic activities,” he said.

CONTINUED FROM PAGE 25

and technical specifications “shall be advertised and made available shortly.” The Executive Vice Chairman, Prof. Umar Danbatta, had recently said that broadband is the flagship of the Commission’s 8-point agenda, which it unveiled last February. “In many ways, some of the other items of the agenda are either dependent on the success of our broadband, or are interwoven with it. Therefore, we are giving a very huge attention to the issue of broadband. “Broadband is already identified globally, as a tool for accelerated socio-economic development,” he said, stressing that the Commission’s agenda aligns with the importance accorded to broadband across the world. According to Danbatta, the provision of the National Broadband Plan that has set a target of 30 per cent penetration from 2013-2018 also accentuates NCC’s emphasis on broadband penetration. He said: “The Commission recognises its prime responsibility in the actualisation of the national broadband plan.” In this connection, Danbatta explained that the Commission was committing resources and efforts towards deployment of broadband services across the country with some significant impacts. “The active mobile broadband penetration, released by the Broadband Commission for Sustainable Development showed that Nigeria has reached a penetration of 20.95 per cent. Equally, on the percentage of Internet penetration, the country has reached a milestone of 47.44 per cent second to South Africa in the continent,” he said.

L-R: Director,WEMA Bank Plc, Abolanle Matel-Okoh; Chairman, Adeyinka Asekun; Commissioner for Health, Lagos State, Dr. Jide Idris and Managing Director/ Ceo, WEMA Bank Plc, Mr. Segun Oloketuyi, during the WEMA Bank 2016 Customer Service Health Walk in Lekki, Lagos.

NEGLECT No significant effort has been made by government to tap into the value chain in palm oil industry, which can create millions of jobs and export hub.

Bayo Akomolafe

alm oil production in Nigeria has reached 970,000 tons valued at N218.5 billion ($714.2 billion) within the last nine months, New Telegraph has learnt. It was gathered that the country’s production may hit one million metric tons by December, 2016. Production of the commodity was 930,000 metric tons in 2015. Currently, the price of the product has reached $736.25 per metric ton since August 2016 in the global market.

Nigeria’s palm oil production hits N218.5bn Nigeria needs additional 1.7 million tons of the commodity to meet its local demand. A report by the Indonesian Palm Oil Association (IPOA) revealed that Nigeria was among the top five markets for the Indonesian crude palm oil in the last two years. It noted that Indonesia had projected to export 27 million metric tons of palm oil valued at $18.6 billion to Nigeria, China, India, Singapore and the Netherlands before the end of 2016. It was learnt that 90 per cent of palm oil consumed in Nigeria is used in the production of foods, while only 10 per cent is used as a raw materials by the soap and other non-foods industries. Also, a report by the United States Food and Agriculture Organisation (FAO) indicated that Nigeria had not appreciable efforts to tap into the value chain in palm oil

industry, which could have created millions of jobs and export hub as the global demand for palm oil is expected to double by 2020 and triple by 2050. Meanwhile, the country’s production began to decline in 1976, when the demand was more than supply. Between 1950s and 1960s, USDA data explained that Nigeria was the largest producer of crude oil palm in the world with a market share of 43 per cent. It supplied 645,000 metric tons of palm oil, across the global market annually, but the reverse has been the case in the last seven years. Last June, Indonesia reduced its export tax for crude palm oil between zero and 22.5 per cent, depending on the international palm oil price, to encourage exporters. Nigeria has introduced zero per cent for crude palm

oil export to encourage exporters. Also, it introduced palm oil export levies in mid-2015. The new policy imposes a $50 per metric ton levy on crude palm oil exports and a $30 per metric ton levy exports of processed palm oil products. According to Executive Director at the Indonesian Vegetable Oil Refiners Association (GIMNI), Sahat Sinaga, the growth in exports of crude palm oil and processed palm oil products to major markets would continue in 2016. He noted that in the first quarter of 2016, Indonesia’s crude palm oil shipments reached 8.23 million metric tons, up 4.5 per cent on a year-on-year basis. The Indonesian Palm Oil Association also stated that the country had a long-term target of producing 40 million tons of crude palm oil per year from 2020.

WEDNESDAY, OCTOBER 5, 2016 NEW TELEGRAPH

fct business watch

The recommendation of a lower tax and other incentives by the Prof. Abiola Sanni Committee on National Tax Policy reform and another proposal suggesting the scrapping of waivers and tax incentives leave government with delicate choice. Abdulwahab Isa reports Director-General, Federal Inland Revenue, Tunde Fowler

he most reliable and less cumbersome revenue channel available to the government are taxes. While revenue from oil and gas sources account for 80 per cent of Federal Government’s income, recent developments both in the upstream and downstream oil sectors (low production output occasioned by activities of Niger Delta militants and crash in crude oil price) compel government to reprioritise her revenue in order of preference. Government’s income derived from taxes collected by the Federal Inland Revenue Service (FIRS) and excise duties of Nigeria Customs accounted for 70 per cent of the total revenue shared in the month of July by the three tiers of government (federal, state and local). With the current state of the economy, occasioned by recession, taxes and other tariff-induced income have caught the attention of government as avenues of overcoming her revenue challenge. But there is a snag. While government is strongly inclined to raise the tax bar by increasing its taxes, a few of her senior officials are suggesting tax incentives and a lower tax for businesses. Tax review c’ttee’s disposition to lower tax The Federal Government, last July, inaugurated a nine-member committee to review the National Tax Policy (NTP) with a view to enthroning an effective tax policy system in the country. The Minister of Finance, Mrs. Kemi Adeosun, inaugurated the Prof. Abiola Sanni-led committee, whose core mandate included the review of Prof. Dotun Phillips National Tax Policy document. At the inauguration of the committee, Adeosun recalled: “History was made in 2012 with the introduction of the National Tax Policy, which contains a set of fundamental principles, which should serve as guide or barometer in determining what legislative and administrative action the tax system may require. The policy builds on the set of principles espoused by Adam Smith in his Wealth of Nations viz: Equity, Certainty, Convenience and Administrative Efficiency.” “It is over four years now since

Adeosun

Tax incentives: Delicate options before government the document was finalised without any additional updates and it is yet to be fully implemented. In a rapidly changing commercial environment with new business models, tax avoidance and evasion strategies among other activities, a tax policy cannot be static.” The minister underscored the determination of the present administration to diversify sources of its revenue away from oil. Specifically, she said oil, which was13 per cent of its economy base, accounts for 70 per cent of its entire revenue. Two months after the Sanni Committee went to work, it turned in its report to government last week, recommending lower taxes for Small, Micro and Medium Enterprises (SMMEs). A reduced income tax rates payable by SMMEs, the committee reasoned, will not only encourage more start-ups in small, micro and medium nterprises, it will also boost profitability of the existing ones, generate new jobs and contribute higher to the Gross Domestic Product (GDP). The new incentives for SMMEs are part of the recommendations presented to the finance minister by the nine-member committee. The committee noted that lowering the taxes payable by SMMEs would encourage compliance, promote the growth of SMMEs and expand the manufacturing base of the nation through their activities. Another recommendation suggested for implementation is the abolition of minimum tax, which results in loss making for companies. The committee further suggested a need to amend some laws such as taxation of Real Estate Investment Trusts (REITs). ”In other climes, a REIT is seen as transparent or flow through entity that is not different and separate from its unit holders/investors. The income of the REIT is treated as the income of the unit holders or investors and therefore taxed at that level,” the committee recommended in the report pre-

sented last week. Nigeria’s Minister of Mines and Steel Development, Dr. Kayode Fayemi canvassed similar view. At a mining conference in Australia recently, Fayemi reportedly promised willing investors waiver and tax holidays.

Nigeria is losing an estimated N577.2 billion annually through tax incentives and waivers granted to corporate organisations

Tax incentives, waiver as delicate choice Nigeria is losing an estimated N577.2 billion annually through tax incentives and waivers granted to corporate organisations, according to a joint report of Actionaid and Tax Justice Network Africa. The two organisations, in a joint report, noted that tax break to companies could be ploughed into addressing infrastructural deficit in Nigeria. The Minister of State for Budget and National Planning, Mrs. Zainab Ahmed, at a recent conference of African Ministers of Finance and Economic Planning in Ethiopia, also hinted of plans by government to review existing tax incentive policies. Before now, the current administration faulted waivers running into several billions of naira, which the previous government had granted to some firms, a development, it said, bled the economy dry of expected revenues. Only recently, the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) advocated a 50 per cent increase in Value Added Tax (VAT) from the present five per cent. Acting Chairman of the agency at the time, Mr. Shettima Gana, while speaking in Kano at a two-day national revenue retreat on strategies to expand the revenue base of government and the new sources for revenue generation, said a rise in VAT was one way government can get more revenue. The ActionAid, which had been on the fore front, pushing for the eradication of waiver and

tax incentives, faulted Fayemi’s offer of waiver and tax holidays to foreign investors. Reacting to the minister’s pronouncement, ActionAid described Fayemi’s offer of incentives as “unnecessary and a reversal of a recent progressive decision that saw the withdrawal of pioneer status previously granted companies.” The agency’s Country Director, Ms. Ojobo Ode Atuluku, said: “Tax incentives as a means of attracting foreign investors is outmoded and no longer considered a major reason for investors looking at such a country as vast as Nigeria as an investment destination. With its abundant resources, a vast and available market, a free-market economy, indiscriminate access to banking and financial services, the investors need no further incentives.” The agency boss buttressed her assertion with the recent study on incentives in West Africa, that revealed the region losses an estimated $6.9billion annually to tax incentives and giveaways. Of the amount, Nigeria lost the largest chunk of $2.9billion . “It’s unacceptable that, in spite of this and other revelations we made about the country’s loss to excessive incentives, such unproductive and wasteful offers are still considered”. She added: “Already, there is an ongoing process for review of the tax system through a recent call for memorandum,” noting that “what is urgently needed now is an audit of existing incentives to determine the cost and benefit to the nation, not another series of Santa gifts to foreign investors who do not need it.” Conclusion On the table for government’s attention are two delicate proposals: A suggestion on tax waiver, reduction and other exemption incentives to attract investments and encourage businesses, and another, a request, pushing for abrogation of waivers, tax incentives and raising taxes to augment government’s revenue. Certainly, the choice before government is a tough one that requires deeper reflection.

WEDNESDAY, october 5, 2016 NEW TELEGRAPH

BUSINESS |MONEY

Naira continues to struggle

From the Central Bank of Nigeria (CBN)’s intervention in Skye Bank, to official confirmation by the National Bureau of Statistics (NBS) that the economy is in recession, coupled with the naira’s record decline against the dollar on the parallel market, there was not much of good news in the third quarter of 2016. TONY CHUKWUNYEM writes

hough the business environment for financial sector operators in the second quarter of 2016 remained as tough as it had been throughout 2015, the CBN’s launch of the liberalised foreign exchange market on June 20 this year, made most industry stakeholders optimistic that things will be much better in the third quarter especially with regard to availability of foreign exchange. CBN’s intervention in Skye Bank However, with the third quarter barely a few days old, analysts’ attention on the forex situation quickly moved, when, citing the need to prevent a further deterioration in the health of the lender, the apex bank removed the chairman of the board of Skye Bank Plc, Mr. Tunde Ayeni, other non-executive directors of the board, its Managing Director, Mr. Timothy Oguntayo, Deputy Managing Director, Mrs. Amaka Onwughalu, and two other executive directors of the bank. In the place of the chairman, the CBN appointed Alhaji Muhammad Ahmad and Mr. Adetokunbo Abiru , as new chairman of the board and new Managing Director respectively of Skye Bank. CBN Governor, Mr. Godwin Emefiele, who announced the regulator’s decision, pointed out that given the fact that Skye Bank is a Systematically Important Bank (SIB), with significant interconnectedness, the banking watchdog would be failing in its duty if it did not take immediate action to nip the steadily declining health of the bank in the bud. The CBN boss, however, stressed that Skye Bank was not distressed, adding that the strategic health of the banking industry remained strong. He pledged that when there was need to inform the general public about the strategic health of any bank, the central bank would not fail in its responsibility as a regulator. “No doubt, as a result of global shocks, there is a weakening of certain ratios, but those ratios have not weakened to a point where we would say the banking industry is distressed. We would like to appeal to all depositors to be calm. There is no need to leave the impression that any bank is distressed. No deposit is at risk,” he added. Notwithstanding its Governor’s assurances, the apex bank’s intervention in Skye Bank, sparked speculations that about two other lenders were also facing serious liquidity challenges and were likely to be also taken over by the CBN. The development once again threw the spotlight on the impact of the full implementation of the Treasury Single Account (TSA) on banks, especially on lenders that were like Skye Bank, heavily dependent on public sector deposits.

Naira and dollar

Mixed half-year results Interestingly, though, half-year results published by banks during the period under review gave the impression that despite the tough times some banks still performed relatively well. Specifically, Guaranty Trust Bank ( GTBank Plc) recorded N91.38 billion Profit Before Tax (PBT) for the half year audited results ended June 30, 2016, representing a growth of 45 per cent over N63.11billion recorded in the corresponding period of June 2015. The bank’s gross earnings for the period grew by 37 per cent to N209.9billion from N153billion reported in the June 2015. But as analysts point out, the Tier One’s lender performance was driven primarily by growth in fee & commission income as well as foreign exchange income. BDCs’ hunt for dollars However, banks are not the only authorised forex dealers in the system. Bureaux De Change (BDCs), which had been barred from accessing the official forex market by the CBN last January, seemed to have received a lifeline from the apex bank when it issued a circular on July 22, directing banks that are agents of approved International Money Transfer Operators (IMTOs) to sell foreign currency accruing from inward money remittances to licensed (BDCs). When the lenders failed to comply with this directive, the Bankers’ Committee decided to increase the amount that BDCs could purchase from banks from $30,000 to $50,000 weekly. Again, only a few banks were able to comply, resulting in continued naira weakness on the parallel market. The BDCs accused banks of not wanting to sell dollars to them while the lenders, in turn, blamed the situation on the acute forex scarcity in the system.

The Bankers’ Committee increased the amount BDCs could purchase from banks weekly... only a few banks were able to comply, resulting in continued naira weakness

Lenders’ suspension from forex market It was around this period that the CBN wielded the big stick on nine Deposit Money Banks (DMBs), suspending them from all further forex transactions for allegedly failing to remit $2.12 billion Nigerian National Petroleum Corporation (NNPC) funds in their vaults into the TSA at the apex bank. The banking watchdog warned that the suspension would remain in force until the outstanding amount was remitted in line with the TSA policy. But almost all the affected banks denied concealing the NNPC fund, arguing that the shortage of forex in the system was the main reason why they had not remitted the money and that the CBN was aware of the situation. However, while the argument was raging, the shutting out of the nine banks from forex transactions worsened the forex shortage and led to the naira plummeting to over N430 to the dollar on the parallel market from about N420 to the greenback. Analysts also warned that the CBN’s action would send the wrong signal to foreign investors and discourage them from bringing in the much-needed liquidity to boost the interbank forex market. Although the CBN eventually lifted the ban on the nine banks following the intervention of the Chartered Institute of Bankers of Nigeria (CBN) in collaboration with the Body of Bank Chief Executives, this did not boost that naira, as liquidity issues in the interbank forex market continued to impact the local currency. Licensing of 11 new IMTOs Still trying to ensure liquidity and make foreign exchange more readily available to low end users, the CBN, at the end of August, licensed 11 new International Money Transfer Operators (IMTOs). They included: Trans-Fast Remit-

tance LLC; WorldRemit Limited, UAE Exchange Centre LLC; Wari Limited, Homesend S.C.R.L, Small World Financial Services Group Limited and Weblink International Limited. Others were Cash Pot Limited, DT&T Corporation Limited, Fiem Group LLC DBA Ping Express and CP Express Limited. The licensing of the new IMTOs brought the number of such firms approved to operate in the country to 14, as the CBN had previously cleared Western Union, MoneyGram and Ria. Economy officially in recession While the CBN was battling to ensure forex availability in the system, the National Bureau of Statistics (NBS) released data, confirming what many experts had predicted: that Nigeria was in its worst economic recession in 29 years. According to the NBS, Gross Domestic Product (GDP) report for the second quarter of 2016, Nigeria’s economy contracted by 2.06 per cent to record its lowest growth rate in three decades. In the first quarter of 2016, the NBS said the economy shrank by 0.36 per cent to hit its lowest point in 25 years. “In the Second Quarter of 2016, the nation’s GDP declined by -2.06per cent (year-on-year) in real terms. This was lower by 1.70per cent points from the growth rate of –0.36 per cent, recorded in the preceding quarter and also lower by 4.41per cent points, from the growth rate of 2.35per cent, recorded in the corresponding quarter of 2015. “Quarter on quarter, real GDP increased by 0.82per cent. During the quarter, nominal GDP was N23, 483,954.78 million (in nominal terms) at basic prices. This was 2.73per cent higher than the Second Quarter 2015 value of N22, 859,153.01 million. This growth was lower than the rate recorded in the Second Quarter of 2015 by 2.44per cent points,” the NBS revealed. While the CBN had long sounded the warning that the economy was headed for recession unless appropriate fiscal policies were introduced to stimulate it, analysts pointed out that the NBS’ official confirmation of the poor state of the economy would make it even more difficult for the country to attract foreign investment. S&P’s downgrade of Nigeria Indeed, the prospects of the CBN luring back foreign investors further took a huge knock after the release of the NBS data, when Standard & Poor’s (S&P), one of the world’s leading index providers and independent credit ratings downgraded Nigeria’s rating further from ‘B+’ to ‘B/B’. The agency pointed out that Nigeria’s economy had weakened more than expected owing to a restrictive foreign exchange regime, a marked contraction in oil production, and delayed fiscal stimulus. It also noted that although Nigeria’s general government debt has CONTINUED ON PAGE 29

BUSINESS |MONEY

WEDNESDAY, october 5, 2016 NEW TELEGRAPH

‘How digital finance can transform Nigeria, others’ Guidance Access to credit can boost Gross Domestic Product (GDP)

Tony Chukwunyem

he prevalence of cash in Nigeria and other sub-Saharan African economies continues to fuel

Naira continues to struggle CONTINUED FRO M PAG E 28

remained low, debt servicing costs as a percentage of general government revenues was high and rising. MPC holds rates It was thus against the background of the foregoing that the CBN’s rate setting body, the Monetary Policy Committee (MPC) held its September meeting. Given the dire picture of the economy painted by the NBS report, some experts, most notably, the Finance Minister, Kemi Adeosun, had called on the MPC to cut interest rates to make it cheaper for government to borrow from local banks. However, other analysts predicted that the CBN would leave rates unchanged because apart from the fact that it would want to keep an eye on inflation, which had increased to 17.61 in August, foreign investors would not welcome a rate cut. As it turned out, the CBN held rates with Governor Emefiele, pointing out that approximately $1 billion capital inflow had been recorded since the CBN liberalised the forex market. He said the development was encouraging, adding that instead of cutting rates, the apex bank would focus on introducing measures that will attract more foreign inflows. Naira in free-fall But contrary to Emefiele’s optimism, the naira has been in a free-fall on the parallel market in the last few days. In fact, at some point last week it fell to a fresh record low of N490 against the dollar. Analysts attribute the development to the worsening forex scarcity in the system, which is tempting speculators to take position in the market. According to traders, the CBN may have settled OTC FX futures contracts on the interbank market to the tune of $180 million last week, but lack of liquidity continues to hamper the market. Conclusion Indeed, the consensus among analysts was that, unless there is a significant improvement in liquidity in the interbank forex market, the naira may fare just as badly in the last quarter of this year as it did in the third quarter.

financial exclusion, preventing small businesses from accessing credit and driving inefficiencies at the government level, MasterCard’s division President for Sub-Saharan Africa, Daniel Monehin, has said. Speaking at the MasterCard Innovation Forum, he pointed out that giving people access to financial services products, such as savings accounts and insurance policies, does not go far enough to attend to financial inclusion, which requires looking at the entire ecosystem. Monehin said the launch of Masterpass QR by Ecobank Nigeria would enable merchants to better keep track of business volumes and revenues, in turn boosting access to credit. Masterpass QR enables users of the platform to pay for

online and in-store purchases by scanning a QR code on their smartphones, or entering a merchant identifier into their feature phones. A number of other Nigerian banks were at various stages of testing the application, he said. He said that MasterCard was also working with the governments in Kenya, Rwanda, Nigeria and Ghana to digitise their payment receipts, adding that changing mindsets remained the biggest obstacle to the uptake of digital payments. “Governments need to see electronic payments as a tool for development,” he stated. A research released this month by the McKinsey Global Institute found that the widespread use of digital finance could boost the annual GDP

of all emerging economies by 6per cent — or $3.7-trillion — by 2020. About two-thirds of the increase would come from improved productivity as a result of digital payments, the study found. It said digital finance would boost lending and save governments $110billion a year by cutting leakage in spending and tax revenue. However, the research stated that the economic potential varies significantly, depending on a country’s starting position. Lower-income countries such as Ethiopia, India, and Nigeria have the largest potential, with the opportunity to add 10 to 12 per cent to their GDP, given low levels of financial inclusion and digital payments today. According to the research: “Digital finance could provide access to 1.6 billion unbanked

people, more than half of them women. An additional $2.1 trillion of loans to individuals and small businesses could be made sustainably, as providers gain newfound ability to assess credit risk for a wider pool of borrowers.” Continuing, it said: “Governments could gain $110 billion per year by reducing leakage in public spending and tax collection. Providers of financial services would benefit, too. They stand to save $400 billion annually in direct costs by shifting from traditional to digital accounts, which can be 80 to 90 percent less expensive to service. By expanding their customer base, providers increase revenue opportunities and could sustainably increase their balance sheets by as much as $4.2 trillion.”

L-R: Chief Executive Officer, RTC Advisory Services Limited, Mr. Opeyemi Agbaje; General Counsel and Head, Listing and Regulation Division (LARD), Nigerian Stock Exchange (NSE), Ms. Tinuade Awe; Minister of Industry, Trade & Investment, Dr. Okechukwu Enelemah; President, Mr. Aigboje Aig-Imoukhuede, and Chief Executive Officer, ChapelHill Denham Group, Mr. Bolaji Balogun, at the 2016 Annual Corporate Governance conference in Lagos.

Experts: African economies IDB, Bill Gates Foundation on anti-poverty initiative should brace for oil shocks partner he Bill and Melinda mad Ali, stated that the fund

t would take the diversification of Africa’s economies to insulate them from shocks of future global oil slumps, experts have said. Speaking to Xinhua news agency, a Ghanaian Associate at London-based Crystol Energy, Theo Acheampong, said Africa’s economies had been hit this hard by current oil price slumps due to their over-dependence on oil exports. “A number of the African countries are actually quite exposed to the oil price shocks. For example, in Nigeria where you have over 80 per cent of the government revenue coming from oil,” he stated. Similarly, he noted that Ghana’s annual economic growth of seven per cent on the average before the oil price falls saw a sudden reduction substantially to between 3.5 per cent and 4.1 per cent over the last two years as a result of the oil price falls.

“Governments have had to respond structurally. So you’ve had some subsidies being taken out; you’ve had some fiscal adjustments as well taking place in terms of tax cuts and all these have had impacts on people’s livelihoods on the ground,” Acheampong noted. He said African governments had the opportunity to think structurally on how to grow the economy, how to grow the non-oil sector of the economy and build linkages between the oil sector and the manufacturing sector. Legal Counsel at Abidjanbased African Legal Support Facility (ALSF), Nchimunya Ndulo, supported the call for economic diversification. Rather than a one-sizefits-all prescription, Ndulo said each country should identify where it had the potential, especially in infrastructure development and agriculture, as alternatives to explore.

Gates Foundation, in collaboration with the Islamic Development Bank (IDB), the Islamic Solidarity Fund for Development (ISFD), and some Gulf States has launched an initiative targeted at fighting poverty across the Muslim world. Named the, “Lives and Livelihoods Fund”, it is the largest development initiative of its kind based in the Middle East. Following its launch, the decision-making body approved projects worth $363million for the first of the five years that the fund will be operational. Projects approved for the first wave of funding will be primarily in the Middle East and a number of Islamic and African countries. The funds will be used to protect communities from the risk of malaria and HIV/AIDS, increase access to water and primary healthcare, and empower poor farmers to grow more food through the development of necessary infrastructure. President of IDB, Dr. Ah-

represented a major milestone in the journey to improve lives in Muslim countries. “I am delighted to see the hard work of all the partners pay off; these projects will save lives, and that is what we are here to do.” The Lives and Livelihoods Fund will invest U$2.5 billion over the next five years on projects that help the poorest people in 30 of the poorest Muslim countries lead healthy and productive lives. Administered by the Islamic Development Bank (IDB), the fund combines $2 billion of IDB financing with $500million in grants from donors. So far, $400 million in grants have been committed by the Bill & Melinda Gates Foundation (20per cent of the total up to $100million), the Islamic Solidarity Fund for Development ($100million), the Qatar Fund for Development ($50million), the King Salman Relief and Humanitarian Aid Center ($100million), and the Abu Dhabi Fund for Development ($50million).

WEDNESDAY, october 5, 2016 NEW TELEGRAPH

BUSINESS | Investor THIRD QUARTER REVIEW

Economic downturn hinders stock market recovery Having witnessed lull in the third quarter of the year, CHRIS UGWU looks at some factors that contributed to the challenges faced by Nigeria’s capital market during the period

ontrary to expectations that the Nigerian stock market will take a cue from market upswing in the second quarter of 2016, the third quarter of the year ended on an unfavourable note, with key measurement indicators tilting southwards to finish with a loss of 4.26 per cent in market performance indices. Some market watchers had hoped that series of strategies initiated by regulators, which include tighter regulatory frameworks, reforms in the nation’s economy that saw deregulation of the downstream sector and flexible exchange policy would help sustain the market on the path of recovery. Hence, the stock market ended quarter three 2016 in the negative territory, as analysts, investors and market stakeholders shied away from market activities, leaving the market key benchmark indicator, NSE ASI, to record 4.26 per cent loss. The NSE’s market capitalisation depreciated by N432 billion to close at N9.733 trillion at the close of business at the end of third quarter, September 30, from N10.165 trillion opening figure at the beginning of trading on July. The NSE All Shares Index dropped by 4.,26 per cent or 1262.39 basis points for the period under review, from 29.165.79 points it opened at the beginning of trading to close at 28.335.40 points. The index measures the performance of the stock market and also reflects how prices of stocks have moved, which in turn determines how much investors made as gains or losses. The market was engulfed by militating factors such as drop in the crude oil price, depressed consumer purchasing power, weak half-year corporate earnings and flight to safety by foreign investors on account of the free fall Naira. According to market analysts, trading on equities sustained a bearish rally, as traders and investors remained on the sideline following inability of the new policy measures by the Federal Government to ginger market participants. However, market regulators and other stakeholders continue during the third to fashion out some strategies geared towards shoring up confidence in the market place. NSE stops fees on fixed income The Nigerian Stock Exchange (NSE), during the quarter under review, announced the revision of the listing and trading fees for

DG SEC, Mounir Gwarzo

securities listed and traded on its Fixed Income Market. The revised fee structure, which took effect on August 17, 2016, are being piloted for an initial six month period, and then evaluated to determine if it has met its objectives. Under the revised fee structure, the NSE will no longer charge trading fees on fixed income traded on its platform. The initial flat listing application fees of 0.15 per cent for all bond types has been replaced with variable listing application fees. With this, Corporate Bonds exclusively listed on the NSE, with existing equity listing will attract 0.01 per cent listing application fee. Dual listed Corporate Bonds with existing equity listing and other Corporate Bonds will attract 0.0375 per cent listing application fees. Similarly, the listing application fees for State and Supranational Bonds was reduced to 0.05 per cent. The Exchange also replaced the fixed Brokerage Commission of 0.0005 per cent with a negotiable rate capped at 1 per cent. This will enable investors negotiate trading commission with brokerage firms, thus driving competition and best execution. Speaking on the development, the Executive Director, Capital Markets, NSE, Mr. Haruna JaloWaziri, noted that the fee reduction in the NSE fixed income market is in line with the Exchange’s commitment to boost market efficiency. “The reduction in listing application fees gives issuers opportunity to raise their profile and increase visibility through listing on a globally recognised Exchange with the highest regulatory standards. The aim is to reduce issuers cost of accessing long-term capital and to provide investors with diverse investment products at competitive trading fees,” he said. Deadline to end dividend warrants In a bid to encourage more investors to key into e-dividend platform, the Securities and Exchange Commission (SEC) said during the quarter that registrars will stop the conventional issue of divi-

MD/CEO, NSE, Oscar Onyema

Some investors are more likely going to invest in riskfree treasury bills that offer safer and stronger rate of returns over risky equities

dend warrants to shareholders of companies quoted on the Nigerian capital market on June 30, 2017. The Director General, SEC, Mr. Mounir Gwarzo, who stated this at the SEC Second Quarter Capital Market Committee (CMC) meeting press briefing in Lagos, said: “At CMC, we have resolved that by June 30, 2017, no registrar will issue dividend warrant any longer, the market has agreed and we are going to implement it.” Gwarzo noted that the deadline was the only way that would encourage people to embrace edividend system of payment, adding that once there is no deadline; people will be reluctant to key into the system. SEC bans two market operators The Securities and Exchange Commission (SEC) has handed life bans to Mr. Taofik Lawal and Mrs. Iyabode Lawal from operating in the Nigeria capital market for mismanagement of stocks and unauthorised sale of shares. In a statement obtained from SEC’s website, the Commission noted that in the exercise of its powers under Section 13 of the ISA, 2007 it investigated complaints against WT Securities Limited and its Directors (Mr. Taofik Lawal and Mrs. Iyabode Lawal) and found them culpable of mismanaging the stocks of Mrs. Opral Mason Benson, and the unauthorised sale of the Nigerian Breweries Plc. shares belonging to Ngozi Onyekwere Nwachukwu. “The actions of WT Securities Limited and the aforementioned Directors are in violation of Section 110 of the ISA 2007 and Rule 65 (1) of the Commission’s Consolidated Rules and Regulations 2013. “Consequently, in accordance with Section 13 (bb) of the ISA 2007, Mr. Taofik Lawal and Mrs. Iyabode Lawal have been banned and blacklisted from operating in the Nigerian Capital market for life. “In view of this, the investing public is hereby advised to desist from dealing with the named persons in any capital market related capacity,” the commission said. Operators’ assessment Commenting on the current

state of the market, some operators blamed the trend on the state of political, economic and financial situations in the country. The managing director of Highcap Securities Limited, Mr. David Adnori said: “With so much uncertainty and volatility in the stock market, the attractive yields in the money market could severely impact on the value of stocks. “Rather than invest in stocks with most dividends payment set for early next year, some investors are more likely going to invest in risk-free treasury bills that offer safer and stronger rate of returns over risky equities.” Analysts at United Capital said that the rate increase has turned investors’ sentiments against local stocks, as a growing number of them opt to buy bonds and treasury bills with guaranteed coupons and significantly lower risks. They pointed out that the equities market is not only battling with the impact of the higher interest rate, saying the negative results released by most of the listed companies is also weakening investors’ confidence in the market. The managing director of APT Securities and Funds Limited, Mallam Kurifi Garuba also explained that the negative reaction of portfolio investors to the flexible forex policy, which was supposed to motivate them to return to the capital market, is partly responsible for the bearish orientation of the market. According to the President of Chartered Institute of Stockbrokers, CIS, Mr. Oluwaseyi Abe, capital market was having its share of economic blues and also going through challenging times. He listed the major factors responsible for the challenges to include, adverse macro-economic scenario, which according to him prior to the recession, the Gross Domestic Product (GDP) growth rate was contrary to the capital market, which did not encourage investors as most people were pre-occupied with barely feeding. He said that the negative public sentiment, which was compounded by low level of capital literacy and retreat of foreign portfolio investors due to the hitherto adverse fixed foreign exchange change regime were also major factors. “Notwithstanding the challenges of the capital market and economy at large, we at CIS are not relenting. We are poised to deploy creative solutions and work in concerted efforts with other stakeholders, including the federal government, CBN, SEC, NSE, NASD,FMDQ,AFEX,NCX and others towards uplifting the capital market in particular and the financial system in general,” he said. Conclusion The Nigerian stock market is in need of a clear-cut policy direction and stability. A lot of foreign investors appear to have taken to their heels leaving only the bandwagon local investors, who also have no clue of the impact of future monetary policy on their investment position.

WEDNESDAY, OCTOBER 5, 2016 NEW TELEGRAPH

maritime THIRD QUARTER REVIEW

Containers packed at the Lagos Port Complex, Apapa for clearance.

n the last three months, revenue by government and stakeholders in all sectors of the maritime industry were down due to economic recession. While the number of vessels calling at the Nigerian ports was reduced by over 50 per cent, over 40 per cent of Nigerian shipping companies closed down because of the harsh operating environment. It was learnt that some of the vessels lost their contracts with international oil companies (IOCs) operating in the country as a result of high cost of shipping. It was also revealed that some of the ship owners were unable to pay their workers. President, Nigerian Ship Owners Association (NISA), Capt. Dada Niyi Labinjo, said that all the ship owners under his association had been seriously affected by the recession. According to him, some of the shipping companies have not been able to pay salaries. Similarly, earnings by terminal operators were eroded by over 300 per cent. Terminal operators said that salaries and overhead costs went up by over 1,000 per cent. Port tariffs During the period, tariffs on cargoes coming into the country rose from 43 per cent to 55.1 per cent within three weeks, when the Nigeria Customs Service (NCS) further adjusted its import duties from N282 to N316. The service’s Deputy Comptroller-General, Tariff and Trade, A. Adewusi, had noted in a circular that the calculation of customs duties based on the N197 to $1 exchange rate was no longer acceptable. He noted that the extant rate issued by the Central Bank of Nigeria (CBN) was the basis for duty calculation. NIMASA Despite these challenges, the apex maritime regulator, Nige-

Earnings dip as recession hits shipping business The third quarter of 2016 was noticeably bad for shippers and other stakeholders, as government policies, low imports, recession and piracy dipped earnings. BAYO AKOMOLAFE reports rian Maritime Administration and Safety Agency (NIMASA), rolled out some plans to undergo a year-long reforms to boost capacity and growth. Its Director General, Dakuku Peterside, said that the agency had the requisite human capital needed to refocus and reposition the industry. To this end, the agency held a meeting with representatives of the IOCs in Lagos, warning them to be mindful of all existing laws and regulations in the discharge of their duties as applicable. It said that sanctions would be meted out to erring companies flouting Cabotage law, negative impact to the environment from oil exploration activities, non-payment of statutory levies due to the government and inadequate information sharing. Customs Nigeria Customs Service (NCS) said that it lost 70 of its officers to smugglers in various battles along Idiroko and Seme border areas with Benin Republic. The service’s unit, saddled with the responsibilities of suppressing smuggling, Federal Operations Unit (FOU), Zone A, also said that it arrested 69 smugglers over 616 contraband valued at N780.5 million in the period. Similarly, the service announced that rice valued at N598 billion came into the country through Seme, Idiroko, Cameroon, Jibya, borders and creeks.

Tariffs on cargoes coming into the country rose from 43 per cent to 55.1 per cent within three weeks

The seizure was 57.51 per cent when compared with normal imports coming through the ports. A Memorandum of Understanding (MoU) was signed between Singapore and Nigeria on the planned re-establishment of a national fleet. The Minister of Transportation, Mr. Rotimi Amaechi led a delegation to the country to sign the MoU with Pacific International Line (PIL) of Singapore. New ports After four years, the Federal Executive Council approved the construction of a deep seaport in Badagry in Lagos State. The N793 billion project includes state-of the art facilities for container, bulk, liquid bulk, oil and gas, roll on/roll off and general cargo as well as barge terminal. During the period under review, the Nigerian Shippers’ Council (NSC) and the National Universities Commission (NUC) resolved to collaborate on the introduction of maritime law as a course of study in Nigerian universities. This is to fill the gap in the dearth of legal practitioners and judges, who are knowledgeable in maritime law, which has hindered adjudication of maritime cases in the country. The pact was reached in Abuja between the council’s Executive Secretary, Mr Hassan Bello, and the Executive Secretary of

the NUC, Prof. Julius Okojie. The council also made effort to persuade some shipping companies, which left Nigerian ports in the last one decade for Niger Republic. NPA Nigerian Ports Authority (NPA) during the period under review, said that tariffs charged at ports would be reviewed upward and downward in order to encourage competition and more ship traffic to the seaports. It also approved the appointment of new port managers for the six major seaports across the country. The new port managers are Mrs Aisha Ali-Ibrahim (Lagos Port Complex, Apapa); Noah Mathew Alaba (Tin Can Island Port); Mrs Olufunmilayo Olotu (Calabar Port); Okeke Simeon Okeke (Delta Port) and Alhassan Ismaila Abubakar (Onne Port). Umar Abubaar Garba is the only old port manager retained under the new dispensation but was redeployed from Delta Port to Rivers Port in Port Harcourt. Piracy Nigerian navy, within the period, also deployed 10 war ships to fight sea robbers and pirates on Nigerian waters, as the number of crew being kidnapped for ransom in the Gulf of Guinea increased. Also, NPA declared its intention to procure additional patrol boats for water security in 2017.

business \ maritime

IMPLEMENTATION

Agency seeks strict enforcement of Cabotage law in order to block all avenues for revenue leakage

WEDNESDAY, OCTOBER 5, 2016 NEW TELEGRAPH

NIMASA exceeds 60% manning target on Cabotage vessels

Bayo Akomolafe

he Nigerian Maritime Administration and Safety Agency (NIMASA) has exceeded its 60 per cent mark for manning on board Cabotage vessels. The Director General of the agency, Dr. Dakuku Peterside, disclosed this during a tour of Western zonal headquarters and port offices in Lagos. In a statement by the agency’s Head of Corporate Communications, Lami Tumaka, the director general, who led the executive management of the agency to the offices, explained that Nigerians were currently employed on domestic vessels. He added that the feat could only be achieved through the dedication and sacrifices of its workers, who ensure that operators comply with the stipulations of Cabotage law. Peterside also sought strict enforcement of the law in order to block all avenues for revenue leakage. He urged the zone to be more efficient and productive. Also, he said that the agency would conclude its promotion exercise within the next 21 days. Meanwhile, the agency

Barge moored to discharge vehicles at the Port and Terminal Multi-service Limited, Tincan Port, Lagos

has concluded plans to hold emergency meeting over abandoned floating dock rusting on Sapele River at the Nigerian Naval Engineering College jetty. The floating dock is a jetty infrastructure of the Nigerian Naval Engineering College, Sapele but currently, it has constituted an environmental hazard in the area. Peterside, who met briefly with the agency’s executive directors over the floating dock during the tour of central office,

explained that the agency would come up with an action plan on the floating dock. He said: “We had problems with the floating dock, but needed to see for ourselves. Now we have seen that it has become a huge problem around here and we must do something urgent about it. “The floating dock does not belong to NIMASA ab initio. The dock was abandoned over 10 years ago. We put up a marine notice asking that owners should come up but nobody re-

sponded. “We moved it from Lagos to this place due to environmental issues. We also put it up for auction but stop at some point after we reconsidered it.” NIMASA Central Zonal Coordinator, Capt Kunle Olayewola, said that the abandoned floating dock was causing his office sleepless nights and a lot of anxiety in taking care of it. He pleaded with the NIMASA DG to provide resources to keep it on hold while it remained on the Sapele River.

Foreign liner to get 40% from national fleet

acific International Line (PIL) is to have 40 per cent holding from the proposed national fleet. Already, the Federal Government has set up a committee to screen shipping operators interested in acquiring part of the 60 per cent holding. The Chairman of Ship Owners Association of Nigeria (SOAN) Greg Ogbeifun, an engineer, said in Lagos that the committee had commenced work to actualise the dream of government. He said that the minister of transportation had given assurance that the Federal Government was determined to do everything possible to ensure that the new national carrier was established. The chairman stressed that Nigeria and Singapore had reached an agreement to establish a private sector driven national carrier with stake-holding of 60 to 40 per cent respectively. The agreement was reached after a meeting in Singapore between the Nigerian delegation led by the Executive Secretary of the Nigerian Shippers Council (NSC), Hassan Bello, and representatives of PIL, one of the biggest ship operators globally.

Bello, who is also the Chairman of the Committee for the Actualisation of the National Carrier, explained that PIL was expected to own 40 per cent of the stake, while private Nigerian ship operators would own 60 per cent. He said: “We have a working relationship with PIL in Singapore; they are one of the big ship operators. They are extremely capable

and operate to international standards. “With the arrangement, they are expected to have 40 per cent of the venture while Nigeria is expected to have 60 per cent. The 60 per cent stake goes to Nigeria entrepreneurs not the government. “We are expecting comprehensive outlined business case, so that we go through the process and procedure to look at all the ramifications and expert study of what is going to happen.”

Commodities at Lagos Port this week Vessel

Tonnage

Commodity

Day

Haung Song

14,144.76tons G/Cargo

Monday

Ikaria Angel

31,362tons

Steel

Monday

MSK Colombo

481Units

Containers

Tuesday

Christa Schulte

400 Units

Containers

Tuesday

Breiz Klipper

4,000 tons

Fish

Tuesday

African Grouse

15,000 tons

Steel

Wednesday

Stra Bluestar

45,151tons

Coal

Wednesday

Er Brighton

45,230tons

Gypsum

Wednesday

Kota Mawar

236Units

Containers

Wednesday

Kota Selamat

102Units

Containers

Wednesday

Solstice

400 Units

Container

Saturday

Kota Satria

200 Units

Containers

Saturday

Ministry, African shippers hold infrastructure forum

he Federal Ministry of Transportation and the Union of African Shippers’ Council (UASC) have organised a two-day sub-regional interactive forum on infrastructure development and maintenance. The confab, according to a statement from the organisers, was declared open yesterday in Abuja by the Minister of Transportation, Hon. Chibuike Rotimi Amaechi. The conference with the theme: “Transport Infrastructure Development and Maintenance: Funding Options and Trade Policies,” was organised with a view to ensuring trade facilita-

tion and advocacy for development and maintenance that would go a long way in promoting efficiency, competitiveness and cost reduction in the delivery of goods and services in West and Central Africa. The forum also examined better access to transportation infrastructure and networks to improve connectivity, promote integration of markets and enhance regional trade for sustainable economic growth of West and Central African sub-region. Nigeria has been the chairman of the standing committee on trade and transport of the UASC for over 10 years.

Corrigendum The profile of Mr. Eke Ubaji published in our Monday interview of October 3 inadvertently included materials that were not his. Mr. Ubaji’s profile is reproduced below: The company: Nigerian Association of Small and Medium Enterprises (NASME) Founded: 1996 Asset: Nil Membership: Business Membership Organisation CEO: Eke Ubiji Born: Nil Career: Manufacturing Total pay: Nil Training: Local and international training Education: University of Calabar (B.sc) and University of Ibadan (M.sc) Work experience: Amnesty International, Nigeria, Fair Governance International, Nigeria Membership: Nigerian Institute of Management, private sector bodies and Lead auditor Quality Management System The error is regretted. –Editor

business \ maritime

WEDNESDAY, OCTOBER 5, 2016 NEW TELEGRAPH

Miscreants take over NIWA ferry in Lagos WASTE Unserviceable government passenger ferries have become channels for siphoning money

Bayo Akomolafe

he flagship of the National Inland Waterways Authority (NIWA), MF Onitsha, after sailing the nation’s waterways for decades, is now home to miscreants and robbers at Oyingbo Jetty in Lagos. It was leant that the ferry was taken to Warri for extensive engine overhaul at NIWA’s workshop, but was later dumped at the Oyingbo jetty after it was alleged that NIWA spent over N40 million to refurbish it. The authority was established by the National Inland Waterways Act No 13 of 1997 Laws of the Federation to improve and develop inland waterways for navigation. The double-decked ferry was acquired in early 1970s and deployed to Lagos by government to boost water transportation

Abandoned NIWA’s ferry at Oyigbo Jetty

between Marina and Apapa. Commenting, NIWA’s General Manager, Corporate Affairs, Mr. Tayo Fadile, said: “The ferry has not been sold, according to the Marine Department. If a vessel was refurbished in 2003, about 14 years ago, with N40 million, should we still expect her to be in perfect working condi-

tion even if the spare parts are not readily available in the country?” Meanwhile, NIWA has demanded N1 billion as right of way fees from telecom firms operating in the country for their fibre optic cables that pass through government bridges. The affected telecommu-

Customs float special unit to probe 50 officers

special provost unit has been set up by the Nigeria Customs Service (NCS) to investigate over 50 officers indicted for corruption. It was learnt that there were over 50 cases involving officers concerning charges, valuation of vehicles and release of vehicles without procedures. The unit will also reposition the Customs investigative unit for greater efficiency. It was learnt that the officers may lose their jobs if found culpable. According to Customs Public Relations Officer, Wale Adeniyi, a deputy comptroller, the Comptroller General, Hameed Ali, set up the special provost unit to complement what the investigation unit was doing. He noted that a committee had been set up by NCS to reposition and restructure the investigation department. The spokesman explained that his intention was to ensure that investigations were done speedily in order to punish those found guilty as specified by the law prescribed for offences. Adeniyi said it was most important to inculcate the fear of that unit in the minds of officers that there is a special unit that is watching them to ensure offences are dealt with decisively. He said that the provost

unit would be a special investigative unit with powers similar to that of the police in addition to having enforcement and prosecution powers. According to Ships and Ports report, there have been allegations by maritime stakeholders that corrupt cases involving some officers may have been swept under the carpet. The allegation came one year after the threat by the Comptroller General to prosecute those found to be corrupt. Meanwhile, NCS has said that Nigerians should diversify into export trade to boost the country’s economy. Its Area Controller, Kirikiri Lighter Terminal Command, Benjamin Aber, urged Nigerians to be serious with exportation of goods to replenish the country’s dwindling foreign reserves. He made the plea at a meeting on the Nigerian Export Trade Hub (NETH) hosted by the command. Aber explained that the country should be focused on exports in order to get out of the current economic recession He said that agriculture could sustain Nigeria if vigorously pursued. The controller added that agriculture could sustain the country if vigorously pursued.

Aber stressed: “Customs is now in the forefront that export business should be done in such a way that it earns foreign exchange for the country.” He assured that all federal regulatory agencies would be linked to the NETH, noting that doing business through the hub would be easy. NETH was launched on August 2016 by some government agencies and private sector stakeholders including the Central Bank of Nigeria (CBN), Standards Organisation of Nigeria (SON), Nigerian Export Promotion Council (NEPC), National Foods, Drugs Administration and Control (NAFDAC) and the National Association of Chambers of Commerce Industry, Mines and Agriculture (NACCIMA). It is aimed is to earn foreign exchange for the country and create a trade balance. According to the Coordinator of the trade hub, Assistant Superintendent of Customs, Frank Ezeh, the platform had given investors the opportunity to bring in their goods and have easy access to exporting them out of the country. He added: “This is to also guide against the ban or blacklisting of Nigerian exports to Europe and the world over. With this, the country’s balance of trade will be improved upon.”

nication operators include MTN, Globacom, Airtel and Etisalat. But the Director, Legal & Regulatory Affairs/ Company Secretary, Airtel Nigeria, Shola Adeyemi, said that the sum was demanded as right of way fees for fibre optic cables laid within Federal Government’s right of way

in northern states. He explained that similar fees had already been paid to the Federal Ministry of Works. Adeyemi said NIWA’s demand amounted to double taxation and multiple regulations for which stakeholders are seeking government’s intervention.

FG, ship owners woo investors to maritime

ederal Government and Ship Owners Association of Nigeria (SOAN) have urged the Commonwealth Enterprise and Investment Council (CWEIC) and other international investors to come and invest in the country’s maritime industry. The event was organised to attract investments which could benefit Commonwealth maritime hubs, with an initial focus on Nigeria. The investors converged at the Marlborough House for Commonwealth Summit to galvanise the Commonwealth maritime sector, encourage cooperation and discussion in the maritime commercial sector. At the event were Nigerian Alternate Representative to the International Maritime Organisation (IMO), Bala Dikko, Executive Secretary, Nigerian Shippers Council, Barrister Hassan Bello, the Federal Ministry of Transportation (FMOT)’s Permanent Secretary, Mr. Sabiu Zakari and SOAN President, Engr. Greg Ogbeifun and top officials of the ministry of transportation. The Conference Chairman, Lord Marland of Odstock explained that Nigeria, with a population of about 173 million people was strategically important to receive such attention. He added: “Nigeria is the largest country and accounts for 47 percent of West Africa’s population. Gross Domestic Products (GDP) is estimated to have grown by 6.1 percent owing to continued strong performance mainly in services, but also industry and agriculture. Maritime in Nigeria has the potential to play a significant role in economic development and trade expansion.” The conference chairman noted that Greg Ogbeifun, had made a strong case for the maritime industry in Nigeria to play a key role in driving growth and economic diversity.

WEDNESDAY, OCTOBER 5, 2016 NEW TELEGRAPH

Literature

Arts

Sundry reasons to live If You Remain Calm…

LABAF: Cultural, literary picnic beckons

Tony Okuyeme

he stage is set for a rich menu of literary and cultural display as the annual Lagos Book and Art Festival (LABAF) holds at Freedom Park. This year’s edition, the 18th in the series, of the culture picnic, organised by the Committee for Relevant Art (CORA) has “The Terror of Knowledge” as its theme. The festival is a comprehensive, four-day programme of events: readings and conversations around books, art and craft displays, kiddies’ art workshops and reading sessions, book exhibitions, live music and theatre performance, capacity building workshops and exhibitions, and critical seminars for different sectors of the creative industries. It will run from November 10 to 13 at Freedom Park (old colonial prison site) on Broad Street, Lagos Island. It will feature scores of book stands, symposiums on literature and book parties. There are at least four drama skits and full theatre productions on the festival grounds throughout the four-day duration of the Festival. The idea, according to the Programme Chair of CORA, Jahman Anikulapo, is to make the ‘Book’ have mass appeal. He said: “Ours is not a Book Fair; we rather like to describe it as an art festival with a high book content.” He explained that this year edition of the festival is structured to have 31 Books of the Festival, one book trek, one pre-festival cocktail to open the festival, one Publishers’ Forum, a Visual Art Exhibition, Festival Colloquium, Festival Conversation, 10 book events, 11 children’s’ workshops, three workshops for teachers, two festival plays, and three music concerts/art parties (one hip-hop, one jazz, one highlife). In all, a total of 35 events will feature during the festival. According to him, the festival programme, pre-festival event kicks off on Monday November

TONY OKUYEME ARTS EDITOR

tony.okuyeme@newtelegraphonline.com

A dance at LABAF

7, with the opening of Lagos Creative Week, which will run till Nov. 13. The Book and Art Festival is an 18-year old event, established in 1999, the year of the nation’s return to democracy, to call attention to the importance of literacy. It is CORA’s homage to the written word. But it’s much more than a book market; it’s a festival of the arts with a high book content. Culture advocate and Programme Chair of CORA, Anikulapo, stated that expected for this year’s edition of the festival are over 30 publishers taking stands and at least 10 exhibiting artist groups and sundry craft shops. His words: “The Festival is the one book event with high children participation. Last year, we hosted over 1500 children to workshops on painting, reading, photography; a range of experiences and, most crucially, discussions around books. “We hope to address rising extremism against acquisition of knowledge and development of the mind. “The inspiration derives from the immortal words of the Nobel laureate, Professor Wole Soyinka that: Books and all forms of writing are terror to those who wish to suppress the truth.” Other features of the festival include snapshots from past LABAF. “The idea is to make “The Book” have mass appeal. The annual Lagos Book and Art Festival (LABAF) is a four-day culture picnic with high book content.” Pre-festival events take place in several venues in town, in the four days leading to the Festival, showering Lagos with a weeklong

We rather like to describe it as an art festival with high book content

funfilled activity focused on The Book. “LABAF is a culture picnic primed to attract families and a public that seeks cultural entertainment. The first edition of LABAF was held in 1999, the festival has since grown to be a world class - albeit home-grown - cultural event that has since become a highpoint in the nation’s cultural calendar. “All the last 17 editions have been filled with fun and thrills, with a full band performing, galleries displaying art, theatre performances, and a series of art, craft, textile, dancing workshops focused on kids happening all over the open field,” he said. The Book Trek holds on Monday, November 7, at British Council, Ikoyi. It is a literary party hosted in the garden of the British Council, parading top members of the literary circuit and celebrities reading from books featuring in the festival. The Book Trek is organised in collaboration with the British Council. The festival continues on Thursday November 10, with the 7th Publishers’ Forum, held in association with Quramo Publishing Limited. The Forum themed, “Raising Standards: Rights, Distribution & Talent in the Publishing Industry”, which will be facilitated by Goethe Institut, will interrogate challenges and aspects of raising standards in publishing in the areas of selling local rights abroad, distribution, and editorial talent. “The Book In My Life” (sometimes called “My Encounter

With The Book”), which usually presents a popular but accomplishing artist mentoring students and young adults on the importance of book, reading and knowledge acquisition to the shaping of the eventual character of the personality, is scheduled for day two of the festival. In the past it has featured Wole Soyinka, JP Clark, Pat Utomi, Richard Mofe Damijo, Julius Agwu and Ali Baba. This year, the multiple awardwinning actress and filmmaker, Stephanie Linus will headline the show. “Due to its popularity, the programme has been extended to hold every day of the last three days of the festival. Also scheduled to hold on the same day is a symposium on the theme: “How Did This Creep In On Us? Breeding Fields Of Terror”. It will feature discussions around/and reflections on Frontiers Of Jihad: Radical Islam in Africa by Dr Yinka Olomojobi, and “Eat The Heart Of The Infidel: The Harrowing of Nigeria And The Rise of Boko Haram, by Andrew Walker. Other activities lined up for the festival also include discourse on the theme: “Campaigns of Purification (Ethnic Cleansing or Insurgency?)”. It will feature readings and conversation around Satans & Shaitans, by Obinna Udenwe, which takes the reader into the state of Islam and Christianity in Nigeria, suicide bombings, family secrets, betrayals, political assassinations, and treachery. It is a novel of morality, choices and consequences, political and religious powers, terrorism and jihad.

ART

WEDNESDAY, OCTOBER 5, 2016 NEW TELEGRAPH

NEWS Oresegun’s Revelation at Mydrim Gallery xhibition of art titled: “RevE elation” by Olumide Oresegun opened last Friday at Mydrim Gallery, Ikoyi, Lagos. The exhibition features new body of work by Oresegun, a Nigerian hyper-realistic artist. On 8 March 2016, he received media attention in Nigeria and beyond after he posted some of his oil on canvas paintings on social media website Facebook. Born in Ikorodu, a suburb of Lagos, Oresegun ‘s love for drawing and painting started when he was four years old. He is an alumnus of Yaba College of Technology, Yaba, Lagos where he graduated with a distinction in Fine Art.

MUSON Festival: The Wives Revolt goes on stage T

wo plays, The Wives Revolt by J. P. Clark, and The Bartered Bride by Bedrich Smetana, will mount the stage in this year’s edition of MUSON Festival of the Arts. The Wives Revolt directed by Mr. Ben Tomoloju will feature as Chevron Festival Drama, and is scheduled to hold on October 22, The Bartered Bride is Total Festival Opera. Apart from the two plays, there is also Declassical Music: ‘’Fela … Arrest the Music – A Musical, scheduled for the stage on October 14 – 16. This year festival also marks the 20th anniversary of the MUSON Festival of the Arts. The first Festival was staged in February 1997 when MUSON decided to go beyond Classical Music into the Performing Arts. According to Mr. Louis Mbanefo SAN, MUSON Chairman and initiator of the Festival and Mrs. Francesca Y. Emanuel, first Chairperson of the Festival Planning Committee, the reaction of the public was so encouraging that MUSON decided to make the Festival an annual event. The objectives of the Festival were to use the Performing Arts to increase the number and extend the scope of interest of MUSON’s membership, create more public awareness of MUSON’s objectives and activities and promote the MUSON Centre as a veritable Centre for the Arts in Nigeria. These have remained the objectives of the annual Festival to this day. The scope of the Festival have, over the years, included Classical Music, Jazz, Drama, Poetry, Visual Arts Exhibition, Nigerian Youth Talent Competition and Concert, Nigerian Traditional Music and Dance and Choral Music and Opera. However the scope and content of each year’s Festival has ebbed and flowed with the quantum of funds available for staging it. Highlights of the festival include visual arts exhibition, “Block 13 – Dance Concert” and Workshop by the Society for the Performing Arts in Nigeria (SPAN), ‘’Poetry and Music Concert among others.

Osofisan

IATC honours Osofisan with Thalia Award

otable Nigerian playwright, scholar and literary giant, Professor Femi Osofisan, has been formally inducted as the winner of the prestigious Thalia Award by the International Association of Theatre Critics (IATC), a UNESCO global partner in the Performing Arts. The Thalia Award is a unique professional honour next only to the Nobel Prize for Literature, which Prof. Wole Soyinka won in 1986. The event, which was attended by over 150 world experts in theatre criticism from 66 countries, took place on Tuesday, 27th September, 2016, in the German Embassy

in Serbia. Head of Nigerian Mission in Serbia, H.E. Chijioke Mchardy Ani and German Ambassador to Serbia, H.E. Me Heinz Georg Wilhelm led the array of dignitaries in the international community, as well as literary eggheads who witnessed the splendid event. With award, Osofisan has become the first African to be so recognised by the respected Thalia Award Committee. Unlike the situation where a prophet is not recognized in his home, en route Belgrade to be installed as a Thalia laureate, the African continent had her opportu-

nity to showcase Femi Osofisan, as its leading dramatist through an impressive ceremony in Egypt. It will be recalled that on Tuesday September 20, the erudite theatre scholar and prolific pdramatist was honoured as one of the Icons of African Theatre at the 2016 edition of the Cairo International Festival for Contemporary and Experimental Theatre. This also came few months after the Pan African Writers Association honoured Osofisan for his contributions to literary development of the African continent. Osofisan, in his accep-

tance speech as Thalia laureate, thanked the organisers for the life changing honour that has shifted global attention to African Theatre and Literature, which he believes has a lot more to offer humanity and the emerging global knowledge economy. Also in the Nigerian delegation to Belgrade were Prof. Olu Obafemi (President, Nigeria Academy of Letters), Prof. Emmanuel Dandaura (President, IATC-Nigeria), Prof. Biodun Jayifo (Harvard University), Prof. Adenike Osofisan (U.I and wife to Thalia laureate), and Mrs. Rhoda Dandaura (IATCNigeria).

Arthouse Contemporary holds auction of modern, contemporary Art

rthouse Contemporary, Nig eria’s premiere auction house, has announced the 17th edition of its auction of Modern and Contemporary Art on Monday November 14, 2016, at the Wheatbaker Hotel, Ikoyi. Founded in 2007, Arthouse contemporary is an international auction house that focuses on modern and contemporary art from West Africa. With auctions held twise a year in Lagos, Nigeria, Arthouse Contemporary aims to create awareness of the scope of contemporary art in the region, encourage inter national recognition towards its talented artist and strengthen the economy of its art market. As contemporary African art moves to become one of the fastest growing global markets,

this edition of the auction will feature both master works from the modern period and cuttingedge contemporary art from the region’s most celebrated artists. This edition of the auction will feature works by Ben Enwonwu, Yusuf Grillo, El Anatsui, Abiade Glover, Rom Isichie and Sochari Douglas camp, among others. It will also include charity lots from notable artists such as Duke Asidere, Nyemike Onwuka, Bunmi Babatunde and Diseye Tantua in support of the Arthouse Foundation, a non-profit residency-based programme of Arthouse Contemporary which provides a platform for artists to expand their practice and experiment with new art forms and ideas. The proceeds of these charity lots will go directly to supporting the artists’ residencies in Lagos in 2017.

Prayer Scene, Oil on Canvas by Abiade Glover

LITERATURE

Sundry reasons to live If You Remain Calm…

“W

ords of Adventure” is a book birthed as a compilation of poems in which there is a message for every individual. Giving consideration to the little and also profound experiences of human life, the author in his conversational titles, communicates deep thoughts through words to every reader. In 258 pages with the same number of poems, Dr. Chukwunyere explains the sublime to the secular; the sincere to the simple, all in a bid to exorcise the negatives of our existence, leaving us to relish the positives that life has provided in abundance. “If You Remain Calm, The Most Aggressive Dog Will Be Your Friend” is the first of the over two hundred titles in this collection. The poem which admonishes on the need to imbibe patience as a virtue, exhorts on the endless advantages that one could leverage as a result of the not being unnecessarily hasty while doing things. Like a preacher and a teacher, its didactic relevance resonates and is driven in with ease. It is particularly important because of the fast-paced lives that we all live in now. People want to hurriedly get rich, have everything at once even without expected effort, but this poem causes the reader to step on his/her brakes and consider the patience option. The third poem strikes a chord, first with the title and further by its content, “You Don’t Get Wiser By Getting Older, But You Get Wiser By Understanding”. This poem delves into the argument about Leadership and responsibilities. Could people develop a new kind of mindset where ability to add value is considered ahead of how old and how long the individual has spent even with little or no value. The bible records that Solomon was less than forty years yet he reigned over men that were older than his demised father. This also accounts for wisdom and where it makes resident. It does not necessarily come with the grey on one’s head. Moving to the seventh poem, To Lack Zeal And Ambition Is To Suffer Hunt. How apt is the title is I should say. Passion is the food of success, but the ingredient for passion is ambition. Life is full of reasons to live and if one must make anything tangible from it, then ambition is very important. Some lines from the poem tell a lot about it “There is no formidable problem There are no formidable difficulties ... But there is courageous man Who understands and knows What it takes to overcome…” It simply means that life has it hiccups, but courage is needed as much as understanding to be able to brace every odd. Zeal cannot be thrown away, neither could deter-

Book Title: Words of Adventure Author: Dr. Chukwunyere Chukwu Year of Publication: 2014 Genre: Poetry Pagination: 258 Reviewer: Adeniyi Taiwo Kunnu

mination be wished off, but resilience must be called into operation if life must be meaningful. Dr. Chukwunyere also endeavours making immense sense, at the juncture he talks about the importance of everything and anything, particularly with the mind that nothing is useless however we look at it. If The Stream Is Useless, We Will Know Who Will Beg As Soon As It Stops Flowing. Whether the water is dirty or clean, it has its use. Whether a man is short or tall, there is something important about all of God’s creatures. This poem communicates beyond the denotative level; rather it unveils much connotative diversity, which we must read carefully to sieve. A bid in hand is worth more than one could imagine in the bush, as such, appreciating the privileges of what is in one’s possession is very instructive from this poem. Those Who Will Make Wrong Use Of Their Time Are Those Who Will First

Book stand

Complain is another in this collection that is packed full of meaning. Time is one thing, if lost, cannot be retrieved. It is the piece which admonishes on judicious use of the ‘wealth’ called time. He further makes us understand, that those whose lack of discretion causes the misuse of time are often the first to complain when the dire consequences hit them hard. Time Control Is Life Control, What You Want To Become Is At The Space Of Time. This is another poem which explains the essence of time from its title. It therefore cannot be undermined for any reason, for time first and season as second are the two ingredients of success. The author seems bent on driving the message of success home, but success can only be achieved in the light taking cognizance of a number of important factors. In the poem, When Efforts Are Wrongly Placed The Result Is Pathetic, Dr. Chukwunyere dissects the need to put the right foot forward, make the best of decisions and be on top of what one is doing if the result must be pleasant. The direction of this work is best envisaged when someone who intends to be a civil engineer decides to study Accounting. It is obvious that such academic footing is wrong and the priority misplaced from the beginning. It then means, that the right decisions and steps must be taken, toward realizing set goals. Could one also think of making any sense in life without considering the nature and attitude of the individual? This question ventures an answer in The Most Dangerous Man In The World Is The Man Who Knows Himself. By implication, a man who has attained a level of knowledge; one who is independent; an individual who has a clear-cut idea about how to live his or her life is one that cannot be toiled with. The emancipation of the human mind is definitely the key to greatness. This is the views expressed in this piece of creative expression.

What we are reading

POETRIP THE VILLAGE VOICE Oladipo Kehinde I am reading Olufemi Taiwo’s Africa Must Be Modern. It is an explicit x-ray of what bedevils Africa and why it seems deliberately unyielding to the dynamics of modernism. The Marxist writer pitches his philosophical ideals side by side the practicality of similar leaning with the West, particularly Canada; where he obtained his PhD. I particularly appreciate the frank tone of expression and much more the way he flayed those within his inner circle of the academia. The politicians were not spared as much as every level of the Nigerian space and Africa as a whole.

Book of Night Women by Marlon James is one of the best books that I have read in my life, because it is written in American patois but you can read it and you don’t seem to feel as if you are reading pidgin, it has a flow. But then the story itself is amazing; it is historical, it is about slavery but then it just draws you in; and it is Pan-African; you feel the Africaness, because slaves came from everywhere from everywhere all over the world, and it gives you a new perspective on slavery. It is an interesting book.

Adeniyi Taiwo

Toni Kan

TONY OKUYEME ARTS EDITOR

tony.okuyeme@newtelegraphonline.com

WEDNESDAY, OCTOBER 5, 2016 NEW TELEGRAPH

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

BUSINESS | Money Line

wedneSDAY, october 5, 2016 NEW TELEGRAPH

‘Sept industrial purchasing managers’ index falls to 47.9’ DECLINE Forex scarcity continues to bite

Tony Chukwunyem

BN Capital’s manufacturing Purchasing Managers’ Index (PMI) declined to 47.9 in September from a reading of 52.2 in August, the firm announced yesterday. In a statement entitled: “Back in negative territory”, the firm said: “Our latest headline reading retreated to 47.9. This would be consistent with the widely expected, further contraction in Gross Domestic Product (GDP) in Q3 2016. (Our expectation is -1.7per cent y/y.) The steep decline in the reading was driven by the secondary sub-indices (delivery times and stocks of purchases) as well as employment. “Fx sourcing issues for the majority of companies highly dependent on imported inputs continue to bite. While remaining negative for the sixth month in succession, the subindex for output did pick up two points to 47.5.” The firm noted that although the Manufacturers Association of Nigeria (MAN) is expecting a significant rise in their members output due to an expected substantial increase in capital expenditure in next year’s budget.“ Such

an increase would only be feasible if the FGN could make further marked progress with revenue collection and control over recurrent items in the budget.” Explaining the methodology adopted in compiling the data, FBN Capital stated: “A selection of companies is asked their view each month on core variables in their business. The respondent, who is characteristically the purchasing manager in a larger firm, has three choices of reply: better,

unchanged or worse than the previous month. According to the most used methodology, 50 marks a neutral reading and anything higher suggests that the manufacturing economy is expanding. Readings are released at the very beginning of the new month.” Besides, it said: “In our case, the five variables are output, employment, new orders, delivery times from suppliers and stocks of purchases. They have equal weightings in our index. Our reports cover a rep-

he Debt Management Office (DMO) yesterday announced that the Federal Government plans to raise N105 billion in localcurrency denominated bonds at an auction on October 12. The debt office said it will raise N35 billion each from debt maturing in 2021, 2026 and 2036, using the Dutch auction system. All the bonds are reopenings of previously issued debt. Government, last week, announced plans to raise between N250 billion and N340 billion in local currencydenominated bonds in the fourth quarter of this year. Nigeria has estimated that it will borrow around N900 billion from the local debt market this year to fund a budget deficit projected at

•DMO launches roadshow for $1bn Eurobond

N2.2 trillion, which has been aggravated by an economic slump as low oil prices slashed government revenues and weakened the naira. Government has also said it will issue $1 billion Eurobond in December this year. Meanwhile, the debt office has launched a one-week roadshow to Britain and the United States to promote a planned $1 billion Eurobond issue to investors, Reuters reported a government official as saying yesterday. “The DMO is currently on a roadshow to the UK and US,” the official told Reuters, asking not to be named. “It’s (a) pre-marketing engagement with prospective investors.” Finance Minister, Kemi Adeosun, is scheduled to take

As at

MPR 91-day NTB Bonny Light Ext Res**

N19,142,526.05m N18,579,219.49m 17.61

Mar, 2015 Mar, 2015 August, 2016

14 10.77 US$49.21 US$24,566,419,718

26/07/2016 Mar 2015 4/10/2016 29/9/2016

Source:CBN

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

FGN Bonds

TTM

Price 104.65 114.59 111.96 120.58 109.60 100.54 83.82 97.56

1.07 3.24 3.87 5.82 7.95 9.81 14.31 18.29

NIBOR

Rate (%) 4.4583 9.1071 11.0102 12.3790

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 ▼

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)

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

NITTY

Rate (%) 6.9949 7.2368 8.0819 9.2061 9.5872 10.5042

1 2 3 6 9 12

Treasury Bills

Offer Yield 10.24 10.45 11.51 11.38 12.22 12.34 12.39 12.44

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 ▼

Spot($/N)

Bid 199.14

Offer 199.24

Change (%) 0.57 ▲

NIFEX

Spot($/N)

Bid 199.0000

CBN Clearing Rates of January 7, 2016 Spot($/N)

196.00

ing, we now have a decline for the third month of the quarter, which acts as a reality check. The economy is in recession although we see a flattish number y/y for GDP in Q4. “The new exchange-rate regime has been in place for three months. Manufacturers will have seen little, if any increase in fx supply. We do not see any sea-change for the better in the months ahead, and are sceptical about talk of a grand sale of state-owned assets.”

FG to raise N105bn with local bond issue next week

Economic Indicators M2* CPS* INF

resentative sample of the sector with large, medium-sized and small firms. Any broad economic conclusions on the basis of our reports need to be tentative because we are operating in a near statistical void.” In a note obtained by New Telegraph, analysts at FBN Quest said the decline in the September PMI reading was a “reality check”. The experts said: “Following three successive modest upticks in the headline read-

197.00

0.00 ↔

Offer 199.1000

Change (%) -1.75 ▼ -2.08 ▼

Change (%) 0.00 ↔

part in the roadshow, the official said. Adeosun’s office said the minister travelled last Tuesday to attend a World Bank meeting in Washington. Nigeria is yet to appoint advisers and bookrunners for the bond offer after bids for the roles closed on September 19. The official said the appoint-

ments are still in process. The DMO has said it expects to raise $1 billion from the Eurobond market by midDecember, part of Nigeria’s plans to borrow a total of N1.8 trillion from abroad and at home to fund an expected budget deficit of N2.2 trillion this year.

Heritage Bank to begin CBN-YIEDP loan payout

eritage Bank Plc has concluded arrangement for a pre-disbursement of loan to beneficiaries of Central Bank of Nigeria (CBN)’s, Youth Innovative Entrepreneurship Development Programme (YIEDP). The lender disclosed this known in a statement made available to New Telegraph yesterday in Lagos by its Divisional Head, Corporate Communications, Olusola Longe-Okenimkpe. The CBN-YIEDP fund is a N3 billion fund sets aside by the apex bank for serving NYSC members and ex-NYSC members who have concluded their service since 2010. An individual beneficiary can have access to N3 million. It has a tenor of three years at an interest rate of nine per cent. In recognition of Heritage Bank’s commitment to small and medium enterprises (SMEs) and youth development, the bank has been adopted by the apex bank as the sole pilot bank for the Youth Innovative Entrepreneurship Development Programme (YIEDP). The programme is aimed at harnessing the latent entrepreneurial spirit among the teeming youths by providing timely and affordable loans to implement their business ideas. The major objective of the scheme is to provide a sustainable mechanism to stimulate employment, contribute to the non-oil Gross Domestic Product (GDP) as well as address the challenge of youth restiveness in the country. The scheme is open to serving youth corps members and non-NYSC members (not more than five years post NYSC with-

in the age bracket of 18 to 35. Okenimkpe explained: “In a bid to get the scheme off ground, Heritage Bank has organised a pre-disbursement training programme for select members of its staff across the country that will implement the scheme. The workshop was held simultaneously in Lagos, Port Harcourt and Abuja recently. “Also, as part of the strategies, Heritage Bank is partnering with Background Check International to cross check the documents of the applicants, partnering with food processors to act as anchor for the beneficiaries as well as with Small and Medium Size Enterprises Development Agency (SMEDAN).” She hinted that with the launching of the programme on March 15, 2016, about 4,000 applicants had applied for the scheme out of which the bank shortlisted 1,500 applicants for training. 1,200 attended the training session. The bank according to the statement, eventually forwarded 50 applicants to the CBN out of which the apex bank approved 26 applications for loan disbursement. Dummy cheques will be presented to 10 of the 26 beneficiaries across the six geographical zones in the premises of the bank next month. The qualified business sectors of the scheme include agro-allied, food processing/ preservation, arts and crafts, manufacturing/cottage industry, information and communication technology, construction support, power & energy, education and financial inclusion, film and photography and automobile, among others.

BUSINESS |Financial Market News

wedneSDAY, october 5, 2016 NEW TELEGRAPH

BUSINESS |Financial Market News

wedneSDAY, october 5, 2016 NEW TELEGRAPH

Stock market opens Q4 bearish UNINSPIRING The local bourse lost N21 billion, as bargain hunters remained on the sideline

Stories by Chris Ugwu

rading activities on the floor of the Nigerian Stock Exchange (NSE) market yesterday opened the last quarter of the year on the negative territory, as the overall performance measures, NSE ASI and market capitalisation, both fell by 0.20 per cent. The downswing, according to market watchers, was due to sell off that had pervaded the

local bourse lately. Consequently, the All-Share Index dropped by 57.47 basis points or 0.20 per cent from 28,335.40 index points last Friday to close at 28.277.93, while the market capitalisation of equities depreciated by N21 billion or 0.20 per cent to close at N9.712 trillion from N9.733 trillion. Further analysis of the day’s trading showed that Champion Breweries Plc topped the day’s gainers’ table with 5.58 per cent to close at N2.65 per share, while Livestocks Feeds Plc followed with 4.65 per cent to close at 90 kobo per share. GTB Plc added 4.13 per cent to close at N24.99 per share. On the flip side, Caverton Nigeria Plc led the losers’ chart with a drop of 7.89 per

cent to close at 70 kobo per share. Wema Bank Plc shed 6.94 per cent to close at 67 kobo per share. NEM Insurance Plc followed with 4.88 per cent to close at 78 kobo per share. On the activity chart, banking sub-sector of the financial services sector dominated in volume terms with 97.2 million shares exchanged in 747 deals. The sub-sector was enhanced by the activities in the shares of UBA Plc and Access Bank Plc. Other financial Institutions sub-sector boosted by the activities on the shares of FCMB Plc and United Capital Plc followed with 42.4 million units traded in 261 deals. In all, investors exchanged a total of 198.1 million shares exchanged in 2, 806 deals.

‘Diageo won’t proceed with offer to increase equity’

uinness Nigeria Plc has said that Diageo will not proceed with potential offer to increase its equity stake in Guinness Nigeria. Guinness Nigeria, in a statement to the Nigerian Stock Exchange (NSE) notified the general public that further to its announcement on September 9, 2015, of Diageo Plc’s (Diageo) intention to make an offer through its wholly-owned subsidiary, Guinness Overseas Limited, for up to 15.7 per cent of the share capital of Guinness Nigeria, it has received a letter from Guinness Overseas Limited confirming that it had taken the decision not to proceed with the potential offer.

“In the light of the challenging market conditions in Nigeria over the past 12 months, it proposes to focus its resources on continuing to support Guinness Nigeria. Diageo has confirmed that it maintains a positive outlook for Nigeria in the longterm and that it expects the market to continue to grow. Nigeria remains a key strategic market for Diageo, which remains supportive of Guinness Nigeria, a company with a long and rich history, its board and management and the actions taken by Guinness Nigeria to mitigate the impact of challenging market conditions,” the statement signed by the Company Secretary Rotimi

Odusola noted. Guinness ended the full year 2016 with a loss after tax of N2.015 billion for the period ended June 30, 2016 in contrast to profit after tax of N7.794 billion in 2015, which according to market watchers, was its first loss in 30-years. The brewer also announced N102 billion revenue for the period under review as against N118 billion reported in 2015, accounting for a decline of 14 per cent. Operating profit stood at N4.415 billion from N15.667 billion in 2015, representing a drop of 72 per cent. Based on these results, the company said it would cut its total dividend to N 0.50 for 2016 from N3.20 a year ago.

PZ Cussons posts N1.6bn loss

Z Cussons Nigeria Plc has reported a loss after tax of N1.585 billion for the Q1 2017 (ended August 2016). The numbers released by the company to the Nigerian Stock Exchange showed a 470.6 percentage change in net earnings, from a profit after tax of N427.851 million the previous year to a loss after tax of N1.585 billion during the period under review. Loss before tax stood at N2.431 billion during the first quarter, as against pre-tax profit of N546.792 million posted a year earlier, representing a percentage change of 544.6. However, the group’s revenue grew by 12 per cent to N15.752 billion as against N14.95 billion reported the previous year. PZ Cussons ended the financial year with a decline in bottom line, as it posted a 53.4 per cent drop in profit after tax for the full year ended May 2016. The unaudited consolidated statement of profit or

loss and other comprehensive income for the period ended showed profit after tax of N2.129 billion as against N4.570 billion recorded in 2015, accounting for a drop of 53.4 per cent. Profit before tax equally was down by 51.1 per cent from N6.651 billion posted the previous year, in contrast to N3.249 billion recorded during the period under review. Revenue was down by 4.9 per cent to N69.527 billion as against N73.126 billion in 2015. PZ Cussons Group UK, the parent company of PZ Cussons Nigeria in a trading update it issued, which covers the period 27 January 2016 to 13 April 2016, said: “Increasingly difficult trading conditions in Africa, particularly in its main market Nigeria, wherein a lack of availability of the U.S Dollar at the official exchange rate is resulting in the majority of purchases passing through (the parallel market, according to management of PZ Nigeria) at a premium of 50-70 per cent”.

FBN Capital gets best investment bank award

BN Capital Limited, the Investment Banking and Asset Management subsidiary of FBN Holdings Plc, has received the best Africa investment bank award for the second consecutive year. The award, according to a statement from the firm, was conferred by the Africa Investor Group, one of the leading international investment and communications firms, at the Ai Capital Markets and Index Series Awards 2016 in New York in recognition of the nature, complexity and size of deals delivered by FBN Capital. Commenting on the award, Acting. Managing Director of FBN Capital, Margaret Baale, noted: “As the leading invest-

ment bank and asset manager in Nigeria for individual and institutional investors, we are pleased to see our efforts continuously recognised by reputable local and international organisations. “Our priority is to constantly raise the bar in delivering excellent financing solutions for our partners, and these awards are a testament to our impressive results as well as the value of the trust our esteemed clients place in us.” The Africa Investor Awards are designed to recognise Africa’s best performing stock exchanges, listed companies, investment banks, research teams, regulators, socially responsible companies and fund managers.

News|SOUTH-WEST

Ondo poll: Mimiko tasks police on fair conduct Babatope Okeowo

Akure

head of the November 26 governorship election in Ondo State, the State governor, Dr Olusegun Mimiko yesterday appealed to the police authorities to provide unbiased and fair policing to the electorate. Mimiko who was speaking while playing host to the new Assistant Inspector General of Police (AIG) Zone 11, Mr Dan Bature, in his office, in Akure said there was the need for adequate policing before, during and after the next month election. The governor said his administration had invested heavily in the security of lives and property in the last seven and a half years, adding that the various infrastructural development of his government was as a result of the prevailing peace being enjoyed by the people. He noted that the only way to guarantee free, fair and credible gubernatorial election was for the police

to maintain neutrality and unbiased in performing its professional duties, describing as peaceful and fair previous elections conducted by the National Union of Roads Transport Workers (NURTW) and other unions under his administration contrary to the usual rancour and mayhem which had characterised such elections. He said: “I want to appeal to you in the name of God Almighty to give adequate, fair and unbiased policing to the forthcoming governorship election in this state. If you do it, you will be happy about the outcome. “We don’t want bloodshed in our state and the only way to guarantee this is for the people to vote; one man, one vote. Let the votes count and let the winner carry the day. “There should be no snatching of ballot boxes and from the report we got from the recent Edo election, we don’t want it to happen here because we know the natural reaction of our people.”

Ambode names ex-council boss DG Safety Commission Muritala Ayinla

agos Governor, Mr. Akinwunmi Ambode yesterday appointed a former Surulere Local Government Chairman, Mr. Hakeem Olaogun Dickson as Director-General of the Lagos State Safety Commission barely two weeks after the agency’s Director-General and the General Manager, Lagos State Emergency Management, (LASEMA) were fired. This was even as fresh facts emerged on why both heads of the agencies in the state’s Ministry of Special Duties were axed by the governor a forthnight ago. Dickson’s appointment was contained in a statement signed by the State Head of Service, Mrs. Olabowale Ademola, where the governor said that the appointment was in line with his administration’s commitment to turn around the agency for optimal performance. However, Governor Ambode urged Dickson

to bring his political clout and experience in the importance and safety practices especially at work and construction of projects to bear on the mandate of the Lagos State Safety Commission, the agency saddled with the responsibility of safety regulations and enforcement in the State. His appointment is however subject to the approval of the Lagos State House of Assembly. But speaking with New Telegraph on why the heads of agencies under his ministry were sacked almost simulatenously, Commissioner for Special Duties, Hon. Seye Oladejo attributed the development to wind of change, saying the only constant thing was change. He denied any insinuation of corruption, saying” at any point in time, the operation of the agencies must be seen to be consistent and working with the dream and vision of his Excellency, who is the one entrusted with the mandate of Lagosians.

WEDNESDAY, OCTOBER 5, 2016 NEW TELEGRAPH

Pandemonium as Abraham, Akeredolu’s supporters clash in Akure Babatope Okeowo Akure

andemonium broke out yesterday at the All Progressives Congress (APC) secretariat in Akure, the Ondo State capital as supporters of the candidate of the party, Mr Oluwarotimi Akeredolu SAN and his closest challenger, Dr Segun Abraham clashed over attempt to control the secretariat. Scores scampered for safety while the pandemonium lasted for about two hours as party supporters

and passersby counted their losses. The violence, arising from the crisis rocking the party as a result of its controversial primary election paralyzed social and economic activities along the ever busy Oyemekun road, venue of the fracas which also housed the party’s secretariat. Motorists were not left out as tens of them recklessly drove against the traffic as the crisis enveloped the major busy road in state capital. The crisis according to eye witnesses started when Abraham’s supporters en-

gaged in peaceful procession in order to further demonstrate their rejection of the governorship primary that produced Akeredolu as the candidate of the party. Abraham’s supporters armed with placards with inscriptions such as “With Abraham we stand” “Restore Abraham’s mandate” “Abraham is APC’s candidate” and “ Abraham is the authentic winner of September 3 primary” moved from Fiwasaye Rounabout to the party secretariat. At the secretariat, leader of the protesters, Mr Enas Mohammed addressed

reporters where he gave reasons for the rejection of Akeredolu as the candidate of the party, saying that the National Working Committee of the party had ordered a rerun of the primary election, adding that Abraham should be restored as authentic candidate of the party. As Mohammed was addressing reporters, some party members loyal to Akeredolu stormed the secretariat with dangerous weapons including axes, cutlasses and cudgels and dislodged Abraham’s supporters from the party’s secretariat.

A crosssection of people during the APC factions’ clash at its secretariat in Ondo State… yesterday

Abule Egba flyover: Lagos denies plan to demolish 1,000 building Muritala Ayinla

he Lagos State government yesterday denied plan to demolish about 1,000 buildings, saying only structures illegally built would be affected by the ongoing construction of AbuleEgba flyover. The government which regretted that formal institutions such as banks and eateries would engage in illegal development without valid C of O or Planning Permits, said that most of the structures to be affected in the demolition exercise were fences, building on Right of Way and illegal constructions and attachments to build-

ings. Speaking on the demolition exercise in AbuleEgba, Ministry of Physical Planning and Urban Development said that the government was only implementing existing provisions of Federal Highway Regulations as contained in the Public Land Acquisition Act and gazetted by the Federal Government for Lagos - Abeokuta Expressway Right of Way. The ministry, in a state-

N481.88bn

The total revenue of 2015 Government Quarterly Target from Petroleum Profits Tax for the 2015 Q2. Source: Firs.gov.ng

ment signed by its Head, Public Affairs, Shina Odunuga, said it was untrue that the state government unilaterally extended portions for removal from the agreed 32 metres from the existing electricity poles to 91.44metres. The ministry added that the Right of Way was to be established for the construction of a Reinforced Concrete Dual Carriage Flyover Bridge at Abule Egba junction, describing

The estimated percentage of the antiretroviral therapy coverage (range) of North Africa and the Middle East in December 2009. Source: Who.int

the allegation by some residents as unfounded. It said: “The Ministry also wishes to emphasise that the said 91.44 metres as contained in the Removal Notice is from the Centre of the Existing Road (45.72 metres on the right side and 45.72 metres on the left side) and not 91.44metres from Existing Electricity Poles as contained in the report. “The state government wishes to reiterate that members of the public, whose property may be affected and having valid claim, to forward documents of such to the Ministry for record and other administrative purposes. “Finally, it must be stressed that the present administration is a listening, compassionate and people-oriented government that doesn’t want suffering for residents and people of the State.”

Guru to Masari: Blame northern leaders for recession Justice Ayoola seeks review of legal education

gainst recent allegation of profligacy by Governor Aminu Masari of Katsina State that the Niger Delta leaders should account for how they spent about $40 billion pumped into the region in recent years, the founder of “One Love Family”, Satguru Maharaj Ji, yesterday said that

the Northern leaders were predominantly responsible for Nigeria’s disgraceful state of destitution. Maharaj Ji who assumed the role of advocacy for the Niger Delta people made the assertion in a release entitled “Gov. Aminu Masari is a Joker”, made available to New Telegraph

yesterday in Ibadan in reaction to Masari’s statement that the Niger Delta people had no basis for their agitation. He said that the governor must look inward before pointing accusing fingers at another section of the country when it came to accountability.

Sola Adeyemo Ibadan

former Supreme Court Justice and erstwhile Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Justice Olayinka Ayoola has called for a

review of the Legal Education in Nigeria to enhance standard and relevance of Law profession and its education in the country, as well as enable graduates to contribute meaningfully to Nigeria’s socio-economic development. The legal icon who intended making legal edu-

cation in universities in the country to rank at par with the developed countries especially the United Kingdom, said this at the Temidire Camp in Ibadan, the Oyo State capital, during a seminar organised by the “Yinka Ayoola Institute”, where many legal juggernauts were in attendance.

News|south-east

WEDNESDAY, OCTOBER 5, 2016 NEW TELEGRAPH

Senate seeks rehabilitation of OnitshaEnugu Expressway Chukwu David Abuja

he Senate has urged the Federal Government to immediately commence the rehabilitation of Onitsha-Enugu dual carriage way to save commuters from further avoidable daily carnage and trauma. In a resolution sequel to a motion sponsored by a former governor of Ebonyi state, Senator Sam Egwu (PDP, Ebonyi North), the upper legislature also directed its committee on works to ascertain the level of disrepair on the road with a view to making recommendations for further interventions. Senator Egwu, in his lead debate, lamented the dilapidated state and total collapse of the road which he said had become a death trap to commuters. He noted that the road which used to take a maximum of one hour to drive from Onitsha in Anambra state Enugu the capital of old Eastern region now takes over five tortuous hours to pass through. The former governor further disclosed that the condition of the road had exposed many travelers

to unprecedented hazard, with others falling victims of armed robbery attacks, leading to loss of lives and property. He added that the collapse of the road had cut off the South eastern states from other part of the country, with its attendant negative impact on trade and commerce. Egwu expressed his displeasure at failed promises

of past governments to fix the road, particularly efforts by Goodluck Jonathan’s administration to fix the road before the 2015 election which had failed following the abandonment of the road by contractors. According to him, the collapse of the road had led to a decline in agriculture and other economic activities occasioned by the

inability to transport agricultural produce and construction materials within and outside the state as this has resulted in a slide in the overall economic output of the country. Egwu further noted that the life cycle of the road had expired heavy vehicular movements on the road, coupled with years of neglect had accelerated

Rector of the Federal Polytechnic, Oko, Prof. Godwin Onu (second left) with other officials inspecting candidates for admission during the computer based Test (Cbt) examinations at the Institution in Oko, Anambra State …yesterday

Assembly sets up committee on building demolition Charles Onyekwere ENUGU

seven-man committee to ascertain buildings that should be demolished within Enugu metropolis has been set up by the State House of Assembly. The committee to be headed by Hon. Obinna Okenwa, member representing Enugu South Urban, is saddled with the duty of marking out buildings that had blocked drainages and waterways. Identities of people that gave approval for the structures to be

erected are also to be revealed. House Speaker, Hon. Edward Ubosi, has given the committee one month within which to turn in its report. It will be recalled that the House had earlier stepped down debate on a motion brought before it by the House Committee Chairman on Enugu Capital Territory Development Authority, Hon James Akadu, seeking for the immediate demolition of buildings that were obstructing waterways in the metropolis. Akadu said he came up with the motion because

Enugu partners communities for development Charles Onyekwere ENUGU

nugu State Governor, Ifeanyi Ugwuanyi, has reaffirmed his administration’s readiness to partner with different communities in the state to create the requisite environment for development projects. The governor while speaking at the foundationlaying ceremony of Iyewuzhi/Umjunevo Ogui-Nike multi-purpose civic centre, lauded the visionary efforts of the leaders of the community that embarked on such project despite the na-

the state of its disrepair and collapse. He further disclosed that commuters passing through the road had resorted to using the old road, which had also collapsed, making the route inaccessible. In their separate contributions, Deputy Senate President, Ike Ekweremadu and Senators from the south east geopolitical zone, were unanimous in appealing to the government to carry out a holistic rehabilitation of all federal roads in the zone to save the Igbos from being cut off from the rest of the country.

tion’s economic downturn. He noted that the civic centre, when completed would no doubt boost economic activities in the community, pointing out that youths and women were bound to benefit from the skills acquisition arm of the centre. Earlier in his welcome address, the president-general of Ogui Nike Town Union, Chief Paul Anike, who described the governor as a “people-oriented leader” noted that the leadership of the community was committed to providing indigenes with the best opportunities for good lives.

the structures in question had resulted in flooding, threatening to cave in the popular Ebenano tunnel following the sack of a police post at Fidelity Estate. In another development, the house has summoned Commissioner for Education, Prof. Uchenna Eze, to appear before it next Tuesday and offer explanations on the recent recruitment exercise of some primary school teachers. The exercise has been shrouded in controversy thereby forcing the house to resolve to nullify it. Speaker Ubosi said the commissioner’s presence

is highly desirable in order to offer explanations on the diverse comments received by the house on the exercise. The house has also deferred debate on an executive bill brought before its leader, Hon. Ikechukwu Ezeugwu, titled, “A bill for a law to make provision for the procedure to be followed in Criminal Cases in the High Court and in Magistrate Courts in Enugu State, House Bill 7, 2016”, seeking to amend the criminal justice law to reflect the realities of the present day. Before the adjournment,

Lawmaker asks president to stop blame game Uchenna Inya ABAKALIKI

ember representing Ezza South/Ikwo Federal Constituency in the House of Representatives, Chief Lazarus Ogbee has called on President Muhammadu Buhari and the All Progressives Congress (APC) to stop blaming past governments for the country’s woes. He said all efforts should rather be on how to resolve the economic problem confronting the nation. The lawmaker made the call yesterday in a chat with

newsmen at Abakaliki. He said: “They should stop blaming anyone on the economic recession we are passing through. Mr. President should desist from blame game tactics and face solutions or profession solutions to the recession. I am not part of the people that are blaming Mr. President or past administrations. My own advice is that the present administration should actually realize that they have been there for a year and months, so they should proffer solutions as they promised Nigerians that they were coming for change.”

members associated themselves with the bill because of its importance but urged that care should be taken so that it does not run foul of some existing laws in the land. Ezeugwu while urging his colleagues to support the bill said when passed into law, it would check illegal arrests by the police and decongest prisons.

Abia PDP inaugurates election screening committee Igbeaku Orji Umuahia

bia State Chapter of the Peoples Democratic Party (PDP) has inaugurated a nine-member screening committee for aspirants in the forthcoming December 17 local government election with a charge to be thorough and forthright. Inaugurating the committee yesterday at the party’s secretariat, the Chairman, Chief Johnson Onuigbo, represented by his deputy, Chief Princewill Onyegbu, said that the party was aware of the challenge in the field especially when the candidates were not popular and urged members to ensure that the best candidates were selected. Onuigbo while insisting that the party would not afford to field candidates that would not be able to win election as chairmen and councilors, charged the committee to ensure a level playing field for all aspirants in order to reduce tension and rancor in the party. In his response, the chairman of the committee and former commissioner in the state, Chief Paul Chikezie Mba, promised to do a thorough job. He also pledged members’ loyalty to the party’s aspirations. Chief Okezie Ugboaja serves as the secretary of the committee while Rev Onyema Agbai, Godwin Amaechi, GOC Nnaji, Goddy Adiele, Fred Ezekwe, Omelihu Nwaogwugwu and Lovett Ofoegbu, are members.

Ex-SSG calls for reduction in governance cost “True leaders must con-

Pamela Eboh Awka

former secretary to Anambra state government, Mr. Oseloka Obaze, has disclosed that the reframing of governance principles in Nigeria as well as cutting the cost of governance will help put the country on a sound footing. In a statement yesterday, the former SSG said the process of rebuilding the country should start with reframing the mindset of those elected or appointed to serve. He said: “This is pertinently more so, with the ongoing national orientation mantra, “change begins with me”. For starters, our leaders should adopt the doctrinal imperative; “We are merely servants, we have done no more than our duty.

sider the impact of their conduct and actions and account for what they have done or failed to do”. On Nigeria’s independence celebration, Obaze said, “it was certainly less boisterous and the celebration discernibly muted and benign. Even joy and celebration in Nigeria have been hit by the recession”. He opined that the vision of the founding fathers for Nigeria to be egalitarian has not manifested because of the choice of leaders leading the nation who ultimately lead dismally. “But that long term vision, which will come, is for now, a dream deferred. In a doctrinal sense, Nigeria’s ascendancy vision is for its own time only: eager for its own fulfilment, it does not deceive; if it comes slowly, wait, for come it will, without fail.”

News|SOUTH-SOUTH

WEDNESDAY, oCTOBER 5, 2016 NEW TELEGRAPH

APC: Dickson has wasted generation of leaders Pauline Onyibe

ayelsa State chapter of the All Progressives Congress (APC), yesterday raised the alarm that a generation of youths was on the verge of being wasted in the state with the seizure of the last West African Examinations Council (WAEC) results by the examination body. WAEC had refused to release the results over

66.1m

unpaid debts owed it by the state government. By implication, pupils who made respective cutoff marks in the last Unified Tertiary and Matriculation Examination might forfeit their admissions. But in a statement issued by the state Publicity Secretary, Fortune Panebi, the APC berated Governor Seriake Dickson, accusing him of deliberately scuttling

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

the destinies of bright children who were leaders of tomorrow. “While the nonpayment of teachers’ salaries in Bayelsa continues to be an embarrassment to all and sundry even as the governor’s deliberate impoverishment of public servants has now become an ego issue on his part, a far more dangerous twist is looming in the education sector in

187,155

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

the state. “This is the seizure of the results of secondary school pupils by WAEC over the state government’s refusal to pay statutory dues. This is a brazen act, the height of irresponsibility on the part of a government. To say the least, Governor Dickson is deliberately wasting away a generation of tomorrow’s leaders due to his inaction in this regard.

0.54%

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

“While we call on well-meaning individuals to prevail on the governor, we sympathise with the parents of the pupils for this pain, an ordeal not worth it for whatever reason. To the affected pupils, while we pray for a divine intervention in this regards, we share in your distress, despair and disappointment. It will be recalled that

FRSC begins enforcement of speed limit campaign in Delta Ola James WARRI

L-R: Edo State Governor-Elect, Mr Godwin Obaseki; Benin Crown Prince, Ehenede Erediauwa and Governor Adams Oshiomhole during a Thank You visit to the Crown Prince in Benin City...yesterday

Commissioner: I’m sorry for heaps of refuse on A’Ibom roads Tony Anichebe Uyo

kwa Ibom State Commissioner for Environment and Natural Resources, Dr. Iniobong Essien, has apologised to residents of Uyo, the state capital and its environs, over the recent heaps of refuse littering the streets, saying that the development was due to lack of where to evacuate them. While accepting that

it was wrong and unhygienic for refuse to be dumped indiscriminately without evacuation and treatment, he said the former dump site was blocked by residents around the site for lack of maintenance. “That is what infor med the planned Integrated Waste Management Project at Itam Itu council area, but for logistics problems, the place has not been put to use yet.

Consequently, the refuse that accumulated was kept there at the refuse house without recycling them. He, however, said that temporal measures had been taken, which is the new dump site at Uyo Village Road, which is about 300 metres away from any habitation. He further hinted that negotiations were almost completed with the owners of the area so as to

allow the evacuation of refuse from Udoh Street to the new site and then make Udo Street hygienic and habitable to the already panicking residents. The commissioner, however, appealed to citizens of the state to assist the ministry in clearing accumulated refuse heaps around the state by reaching out to him so as to send agents of the ministry to those areas for prompt response.

Ijaw youths urge media to leave Sylva alone Emmanuel Masha Port Harcourt

he Ijaw Youth Council (IYC) yesterday urged the media to stop maligning former Governor of Bayelsa State and gover norship candidate of the All Progressives Congress (APC), Chief Timipre Sylva, over his alleged ownership of 48 houses. IYC noted that some segments of the media

had embarked on a smear campaign against Sylva rather than being objective in their coverage of issues relating to him. In a statement issued in Port Harcourt, the Rivers State capital yesterday, Elvis Donkekezuo, President of IYC Worldwide, described Sylva as a worthy leader who had been served his people right from a very young age as a member of the Old Rivers State House of Assembly and as Special Adviser to former

Governor DSP Alamieyeseigha. He said: “Special Assistant to a Minister of State for Petroleum and later Governor of Bayelsa State, where he served to the best of his ability, despite many distractions, does not own 48 houses anywhere in the world to the best of our knowledge. “Chief Sylva has suffered enough persecution for a lifetime. Thus, we call on the Nigerian media to stop media as-

sassination before court trial/judgment; we condemn in strong terms the way and manner this news came out without facts as it is obvious that this smear campaign is targeted at the Ijaw extraction of late. “We want to state that the IYC is fully behind Sylva and would not allow anyone outside the Ijaw nation to intimidate or malign one of our own if not found wanting by any law court with competent jurisdiction.”

public primary and secondary schools in Bayelsa were yet to resume for the 2016/2017 session because of the failure of the state government to settle their seven months’ salary arrears. The teachers embarked on a strike at the end of the 2015/2016 long vacation, which ended in the first week of September, but were yet to resume school till date.

he Federal Road Safety Commission (FRSC) has commenced the enforcement of speed limit device in commercial vehicles. This was disclosed by the Delta State Coordinator of the FRSC Department of Special Marshal and Partnership, Mr. Dickson Amromawhe, while unveiling four billboards along the Ughelli-Patani Expressway, warning motorists of the danger of over-speeding during the ‘ember months.’ Amromawhe said the billboards were part of efforts by the special marshals to reduce auto crashes on that road. He explained that the billboards with the inscriptions; ‘Seat belt please wise up, slow down busy industrial layout, pedestrian way,’ are warning signs to motorists not to over speed. The Ughelli Unit Co-

ordinator of the Special Marshals said the FRSC has commenced the enforcement of the speed limit device on commercial vehicles. He further explained that the speed limit device is an electronic way of preventing over speeding in vehicles. The Coordinator of the Special Marshals, who sponsored the billboards, Mr. Clement Onomuodeke, said the initiative was their contribution to the safety of lives of motorists plying the Ughelli-Patani Expressway. The Commander of FRSC Unit 15, Ughelli, Mr. Olusegun Olusola, the plant Manager of Betaglass, Ughelli, Mr. Jay Kuhar and its Human Resources Manager, Mr. Ezekiel Uwabejiri, commended the special marshals for erecting the billboards on the Ughelli-Patani Expressway noting that so many lives have been lost on that road.

Delta PDP crisis deepens Dominic Adewole ASABA

he crisis rocking the Delta State chapter of the Peoples Democratic Party (PDP) deepened yesterday as the faction loyal to Senator Ali-Modu Sheriff, received the support of the kinsmen of the wife of the former National Chairman of the party, Mrs. Nneamaka Ali, in Oshimili South Local Government Area of the state. The development forced Governor Ifeanyi Okowa and his cabinet to a closeddoor meeting at the Government House, Asaba. It will be recalled that the Peoples Democratic Party (PDP) structure in Delta State was recently hijacked by the faction of Senator Ali-Modu Sheriff. Ali, who holds sway in the various wards, including wards three to 10, had allegedly teamed up with Sheriff and ordered her

supporters to toe the line. Her men, including Dada Okolo and Jude Okafor, have been inaugurated as factional council chairman of the party and secretary, respectively. Also sworn-in were Christian Okafor, Austine Ijeh and Fyke Ofulue, as wards chairmen in Oshimili South, Aniocha North and Aniocha South, respectively. They have in-turn inaugurated their wards’ executives to dislodge Senator Ahmadu Makarfi’s faction of the party, which Governor Ifeanyi Okowa, has been supporting. Speaking in Asaba yesterday, Hon. Christian Okafor, said Sheriff is the final arbiter of the party in Nigeria. According to him, by next week, the illegal occupants of the party secretariats in the various states would be served a final quit notice.

WEDNESDAY, OCTOBER 5, 2016 NEW TELEGRAPH

Ortom: I won’t apply Fayose’s method to tackle herdsmen’s attack JohnchuksOnuanyim Abuja

he Governor of Benue State, Samuel Ortom has stated that his administration would not apply the approach of the Governor Ayodele Fayose of Ekiti State in addressing the menace of Fulani herdsmen in state. But, this was as the governor declared that the state government would not surrender the state and the security of the people to criminals. The governor stated this in Abuja while reacting to the recent attacks by gun-

men on a police station in the state. The Ekiti State Government had signed an Act that any herdsman caught for open grazing would be prosecuted and sentenced to two-years imprisonment. Ortom, however, in his position stated that he would not make any law against the herdsmen as they had the right to live in the state and carryout their business, within the confines of the present day realities. He noted that the herdsmen must live within the present realities in the county that there was no land for open grazing and therefore

should accept ranches, best practice in the whole world. The governor insisted that the present security situation in the state was as a result of the proliferation of arms that was fallout of the last year’s general elections, saying: “I cannot take the steps taken by the governor of Ekiti State, but I know what to do on my own.” On the approach to be adopted by his administration to address the problem, Ortom said: “One thing is that ranching remains the best option of breeding cattle in every part of the world. That is global best practice. Cattle are being breed in America,

Europe and other parts of the world, but the best practice is ranching. Grazing is old fashion and off course the land is no more there and when you talk about diversification of the economy, you are going to use land for agriculture. You can’t go and farm in the air or on the sea and so no more land for grazing and this is what we are saying. “However, I will like to say that the Nomadic have a right to be integrated into the society. The state and federal government must come together and work out a programme that properly integrates the nomads into the programme that we are talking about.”

Kogi Assembly suspends five council administrators Muhammad Bashir Lokoja

o fewer than five Local Government Administrators were yesterday suspended from office by the Kogi State House of Assembly over alleged reckless handling of public funds. The affected administrators are Alhaji Taofiq Isa of Ijumu Local Government

Area; Mr. Baron Okwoli of Igalamela/Odolu LGA; Mr. Moses Akande of Ogori/ Magongo LGA; Mr. Moses Olorunleke of Kabba/ Bunu LGA and Mr. Abdulrahim Ohiere of Okehi Local Government Council. The suspension was brought under matters of urgent public importance, which was raised by Hon. Friday Paul Sani, representing Igalamela/Odolu Constituency to the effect that “the decision of the

House to ask questions on the administration of Local Government Areas in the state is not out of place.” According to him, the affected Administrators were always at Lokoja, the state capital, instead of performing their primary responsibilities in their Local Government Councils. “They spent without appropriation. The House must not be undermined and so therefore, the five administrators should be

suspended to allow for thorough investigation, while the Secretaries of the Local Government Councils are to act in their place,” Sani said. However, Hon. Sunday Abayomi Pedro representing Mopa/Muro Constituency in the House, who seconded the motion, said: “It is about time this House started its oversight functions, otherwise we might live to regret such negligence.”

L-R: Chairman, House of Representatives’ Press Corps, Umar Puma Mohammed; Clerk of the National Assembly, Alhaji Mohammed SaniOmolori; Leader of the House, Hon. Femi Gbajabiamila and Speaker, Yakubu Dogara, during the official commissioning of the House’s new media centre in Abuja …yesterday. PHOTO: ELIJAH OLALUYI

Yobe: Sacked LG workers threaten to sue govt Ahmed Miringa MAIDUGURI

he over 2,000 sacked workers of the 17 Local Government Councils in Yobe State have threatened to take the Yobe State Government and Governor Ibrahim Geidam to court to seek redress over their unlawful sack should the state refuse to reinstate them. While leading the sacked workers in a press conference in Maiduguri, the Borno State capital, Alhaji Mohammed Kukuwa said: “I am intervening in the matter because the workers were unlawfully sacked without any former query

given to them or wrong doing or even termination of appointment letter, only to get to the bank for their salaries to be told that they had been sacked. “I, therefore, call on Governor Geidam to reinstate the sacked workers or we have no other alternative than to take the state government to court. In this era of Boko Haram insurgency, how could the government sack over 200 workers in a local government council? I think the Boko Haram crisis will bow down to unemployment and poverty. So, we don’t want anything that will further compound the

people’s problem.” He said: “The government deliberately sacked the workers in order to reduce overhead cost and payment of salary in the state due to the shortfall in the federation account, instead of reducing cost of governance of all government officials.” While speaking on the issue, one of the sacked workers from Tarmuwa Local Government Area, said one of his colleagues slumped while on queue at the ATM when he went to cash his salary only to find out there was no money and he was told that he had been sacked. He appealed to the government to rescind its po-

sition on the sack, saying many of them were already dying of hunger and frustration brought about by the economic hardship and the Boko Haram insurgency.

The number of listed exchange traded products of Nigeria as of December 31, 2014. Source: Nigerian Stock Exchange

15,600

The total population of Cook Islands in 2011. Source: Un.org

News|NORTH

43 Kebbi trains 3,000 school teachers Abubakar Abdul Birnin Kebbi

ebbi State Universal Basic Education (UBE) yesterday, restated its commitment to improve the teaching profession and promote quality education in the state’s schools. This was even as the SUBEB organised a twoday training workshop for 3,000 teachers with the aim of accelerating educational development. In a statement signed by the Chief Press Secretary to Governor Alhaji Abubakar Muazu, the training of the 3,000 primary school teachers, under the Second Tranche of 2014 Teachers Professional Development Programme (TPDP), would go a long way in promoting and improving teaching and learning process in the

school system. While addressing the participants at the opening ceremony of the training, the state governor, Senator Atiku Abubakar Bagudu said that about N3.6 billion had being spent on the repairs of primary school structures across the state, while N2 billion would also be spent to carry out renovation projects on secondary school structures. He explained further that part of the funds would be used to purchase stationery and other teaching aids to enhance quality teaching and learning. The governor, however, assured the trainees that the state government would improve their welfare and condition of service, while urging them that the ongoing verification exercise was aimed at sanitising the system and not to victimise anyone.

Dankwambo warns MDAs against unregistered associations Willie Danjuma GOMBE

overnor Ibrahim Dankwambo of Gombe State has warned Ministries, Departments and Agencies (MDAs) in the state against patronising or participating in the activities of unregistered associations in the state. The governor gave the warning during the flagoff ceremony of a youth empowerment scheme for 5,000 unemployed youths tagged: “G-Hope,” under which each of the beneficiaries would graduate and receive entrepreneurial kits after a six-month training programme and a N5,000 stipends monthly. “To weed out dormant, ineffective and unregistered associations and improve the government’s revenue base, I have approved upward review

of the registration fees charged on associations operating in the state with the exception of those for the physically challenged persons whose registration shall continue to be free,” Dankwambo said. The governor also directed that all MDAs in the state including the Governor’s Office, federal agencies and parastatals, as well as corporate bodies not to attend functions and activities of clubs and associations that had not registered with the state government. He said no incentives in terms of grants, interest free loans or fertilizer shall be enjoyed by any association that had not been registered, even as he requested commercial banks to demand for certificate of registration from clubs before opening account for any club or association in the state.

Benue Assembly passes 2016 LG amendment bill Cephas Iorhemen MAKURDI

embers of the Benue State House of Assembly yesterday passed the Local Government Amendment Bill 2016, which allowed the state government to appoint Sole Administrators for the 23 Local Government Councils in the state. The tenure of the Local Government Council Chairmen in the state expired about two months ago, and had since been succeeded by their respective Directors General Services and Administration in the councils. The passage of the Bill followed a by clause the pro-

posed law in the Committee of the Whole, chaired by the Speaker of the House, Hon. Terkimbi Ikyange. Cited as Local Government (Amendment) Bill 2016, it shows that whenever it becomes impossible to conduct election after the two terms of caretaker committee of six months each, and three months for the Directors General Services and Administration, the Governor shall appoint Sole Administrators to handle the affairs of the councils. “It is a new Sub-Section 6 of Section 21 of the law and it is for renewable for six months term, while it rejected another period as may be deemed expedient.”

WORLD \ NEWS

WEDNESDAY, OCTOBER 5, 2016 NEW TELEGRAPH

Protesters boo, jeer at Angela Merkel

everal hundred people descend on annual event to voice their anger over the leader's policies. Angela Merkel has been booed and jeered by protesters while attending celebrations for German Unity Day in Dresden. Demonstrators held placards which said "Merkel

must go", while shouting the slogan at the German Chancellor and President Joachim Gauck as they greeted attendees. German media estimated the number of protesters at the celebrations, which mark 26 years since Germany's reunification, at "several hundred".

Ms. Merkel has faced criticism for her open-door refugee policy as last year's arrivals of around one million migrants, mainly Muslims fleeing conflict and poverty in the Middle East, has increased social tensions in the country. Ms. Merkel, who grew up in East Germany, used a short statement to call for "mutual

respect" in the political debate and said she wished all sides could work together to tackle the new problems, regardless of their different political views. Dresden is the birthplace of the anti-Islam Pegida grassroots movement, whose rallies attracted as many as 20,000 supporters at the group's height of popularity at the start of 2015.

Security was tightened for the event, with 2,600 police officers on duty, after two improvised bombs exploded in Dresden last week one at a mosque and one at an international conference centre. Three police cars were also set alight by unknown perpetrators in the city on Saturday. Germany was reunified on 3 October 1990.

Hurricane Matthew lashes Haiti, heads toward Cuba

H Philippines President Rodrigo Duterte (C) clenches fist with members of the Philippine Army during his visit at the army headquarters in Taguig city, metro Manila, Philippines.

Go to hell, Philippine leader tells Obama

hilippine leader Rodrigo Duterte yesterday told U.S. President Barack Obama to "go to hell" and said the United States had refused to sell some weapons to his country but he did not care because Russia and China were willing suppliers. In his latest salvo, Duterte said he was realigning his foreign policy because the United States had failed the Philippines and added that at some point, "I will break up with America". It was not clear what he meant by "break up". During three tangential and fiercely worded speeches in Manila, Duterte said the United States did not want to sell missiles and other weapons, but Russia and China had told him they could provide them easily. "Although it may sound shit to you, it is my sacred

duty to keep the integrity of this republic and the people healthy," Duterte said. "If you don't want to sell arms, I'll go to Russia. I sent the generals to Russia and Russia said 'do not worry, we have everything you need, we'll give it to you'. "And as for China, they said 'just come over and sign and everything will be delivered'." His comments were the latest in a near daily barrage of hostility toward the United States, during which Duterte has started to contrast the former colonial power with its geopolitical rivals Russia and China. When asked about Duterte's comments, US State Department spokesman John Kirby said yesterday, "Frankly, it seems at odds with the warm relationship that exists between the Filipino and American people and the record of important cooperation be-

tween our two governments, cooperation that has continued under the Duterte government." On Sunday, Duterte said he had received support from Russia and China when he complained to them about the United States. He also said he would review a US Philippines Enhanced Defence Cooperation Agreement. The deal, signed in 2014, grants US troops some access to Philippine bases, and allows them to set up storage facilities for maritime security and humanitarian and disaster response operations. He said the United States should have supported the Philippines in tackling its chronic drugs problems but instead criticized him for the high death toll, as did the European Union. "Instead of helping us, the first to hit was the State Department.

S'Africa: Students, police clash

rotesters at South Africa's Wits University attacked police vehicles with rocks and overturned another yesterday, as violence in nationwide demonstrations over high tuition fees escalated. Police fired stun grenades, rubber bullets and teargas at hundreds of students who marched through the university's campus in Johannesburg, performing the "toyi-toyi" protest dance made popular during the struggle against oppressive white rule. At least two people were arrested earlier when police moved in to enforce a court order on public gathering at

Wits, whose full name is University of the Witwatersrand. Demonstrations over the cost of university education, which is prohibitive for many black students, have highlighted frustration at enduring inequalities in Africa's most industrialized country more than two decades after the end of apartheid. "I am not sure free education is feasible. And I am worried about attacks on other students. It's inflicting fear in other students. It's not right," said one final year law student, who was not taking part in the protest but did not want to give his name. The square in front of the main hall on campus was

strewn with spent shotgun shells and rocks after several skirmishes between police and protesters. A police woman in riot gear hobbling from the scene with assistance from her colleagues told Reuters she had been hit in the leg with a stone thrown by protesters. Protests first erupted last year, then subsided as the government froze fee increases and set up a commission to look into the education funding system. The unrest boiled over again, closing some classes and universities, when the commission said on September 19 that fees would continue to rise, albeit with an 8 percent cap in 2017.

urricane Matthew pounded western Haiti yesterday morning, packing powerful winds and heavy rain as it crossed the country. "The river has overflowed all around us," church pastor Louis St. Germain said. "It's terrible a total disaster." St. Germain, who spoke to CNN on the phone from Les Cayes, Haiti, said the storm sheared off a wall of his house and tore roofs off many buildings in the area. The extremely dangerous storm has already killed at least three people, caused cruise ships to change course and prompted officials to declare states of emergency. And authorities have warned that the death toll could climb. "We've already seen deaths. People who were out at sea. There are people who are missing. They are people who didn't respect the alerts. They've lost their lives," Interim Haitian President Jocelerme Privert said at a news conference. The Category 4 hurri-

cane made landfall near Les Anglais, Haiti, around 7 am ET, according to the National Hurricane Center. By 11 am, it had crossed the country and was back at sea, churning north through the Gulf of Gonave toward Cuba.mForecasters say the storm, which is moving at about 10 mph, is expected to impact eastern Cuba later yesterday. A threat remains in Haiti even though the eye of the storm has passed. Ferocious rain and wind were already thrashing the Caribbean nation before the storm made landfall. And forecasters said yesterday that life threatening flash floods and mudslides were likely. Up to 40 inches of rain could be dumped on the impoverished nation, which is still recovering from a devastating earthquake that struck six years ago and a cholera outbreak after that. Les Cayes Mayor Jean Gabriel FortunĂŠ said yesterday morning that the storm was slamming into his city.

Turkey purges 13,000 police officers over failed coup

urkey has suspended almost 13,000 police officers for their alleged links with the US based Muslim cleric, Fethullah Gulen. The latest wave adds to the 100,000 or so government workers dismissed or suspended since July's failed coup. Mr Gulen denies the government's accusation that he or his supporters orchestrated the coup. The government in turn rejects claims it is using the coup as an excuse to get rid of its opponents. It insists those without proven links to the coup will be freed. More than 2,500 officers whose suspensions were announced yesterday were police chiefs, said

Turkish national police in a statement. It comes hours after the government announced that a state of emergency imposed shortly after the failed putsch would be extended by three months when it expires on October 19. The emergency allows the president and cabinet effectively to rule by decree, bypassing parliament when drafting new laws and able to restrict or suspend rights and freedoms. There are fears that under the state of emergency and in a country where judicial independence has plummeted opponents are being rounded up with little chance to clear their name, says the BBC's Mark Lowen in Istanbul.

WikiLeaks: Assange signals release of documents before US election

ikiLeaks founder Julian Assange said yesterday the group would publish about one million documents related to the US election and three governments in coming weeks, but denied the release was aimed at damaging Hillary Clinton. Assange, speaking via a video link, said the documents would be released before the end of the year, starting with an initial batch in the coming week. Assange, 45, who remains at the Ecuadoran embassy in London where he sought refuge in 2012 to avoid possible extradition to Sweden, said the election material was significant and would

come out before the November 8 US presidential election. He criticized Clinton, the Democratic presidential candidate, for demonizing his WikiLeaks group's work after a spate of releases related to the Democratic National Committee before the Democratic political convention this summer. Assange said her campaign had falsely suggested that accessing WikiLeaks data would expose users to malicious software. But he denied the release of documents relating to the US election was specifically aimed at damaging Clinton, saying he had been misquoted.

WEDNESDAY, OCTOBER 5, 2016 NEW TELEGRAPH

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Did you know?

Sport

Nigeria have played Zambia 17 times with Nigeria winning six, Zambia winning five and both countries having six draws.

Flamingoes face ouster

Sport Rooney: It was a ‘shame’ to see Allardyce leave job

46 47

Zambia vs Nigeria

Rohr: Battle of Ndola, must win Adeolu Johnson Abuja

uper Eagles Manager , Ger not Rohr, has said the World Cup qualifying opening match a g ainst Zambia in Ndola next Sunday is a must win. Exuding confidence on Tuesday after a full house morning training of the team, Rohr said that the players were raring to go for the three full points on October 9.

Ihanacho (right)

He was particularly delighted with the full response from the invited players adding that they are in good spirit for the encounter. “No small team is our group, we saw the Zambians against Kenya and they will not be a push over on Sunday. We are going there to give a good account

of ourselves,” he said. Rohr however said the Eagles were ready to play on the bad pitch as reports reaching the NFF have it that the Eagles could be playing on a bad turf. Rohr added that the players had displayed solidarity with their early arrival in camp. He pointed out that such was important for the

team to excel in Ndola. He confirmed that Victor Moses Leon Balogun and Odeon Ighalo have been excused and their places taken over by some domestic league players. Those who participated in yesterday’s light workout were Captain Mikel John Obi, Brown Ideye, Ogenyi Onazi, Carl Ikeme,

Kingsley Madu, Musa Muhammed, Emmanuel Daniel, Ikechukwu Ezenwa, Elderson Echiejile, Nosa Igiebor, Abdullahi Shehu, William Paul Ekong, Alex Iwobi, Kenneth Omeruo, Anderson Esiti, Jamiu Alimi, Wilfred Ndidi, Chisom Egbuchunam, Uche Agbo, Kelechi Iheanacho, Moses Simon, Brown Ideye and Nige-

ria League top scorer Godwin Obaje. Also in training were assistant coaches Salisu Yusuf, Imama Amakpakabo, Alloy Agu, Rohr’s assistant, Jean Luc Royer and video analyst, Nabil Trabelsi. They are expected to depart Abuja for Ndola on Saturday according to the NFF.

Eagles test might against Plateau United As 23 players battle for shirts

Emmanuel Tobi

The Sport Team Adekunle Salami Group Sport Editor

Emmanuel Tobi Assistant Sport Editor

Ajibade Olusesan Sport Correspondent

Charles Ogundiya Sport Correspondent

head of Sunday’s 2018 FIFA World Cup qualifier against Zambia in Ndola, the Super Eagles will take on Nigeria Professional Football League side, Plateau United FC of Jos in a friendly match at the mainbowl of the National Stadium, Abuja on Wednesday evening. All the 23 invited players participated in Tuesday training and are now at the Super Eagles’ Bolton White Hotel and Apartments in Abuja. Captain Mikel John Obi and the UK legion arrived aboard British

Airways flight from London on Tuesday morning, ahead of Ahmed Musa, Brown Ideye and Nigeria League top scorer Godwin Obaje, who came in before the evening training session. Some of the players in camp now are: Mikel John Obi, Ahmed Musa, Ogenyi Onazi, Carl Ikeme, Kingsley Madu, Musa Muhammed, Emmanuel Daniel, Ikechukwu Ezenwa, Elderson Echiejile, Nosa Igiebor, Abdullahi Shehu, William Paul Ekong, Alex Iwobi and Kenneth Omeruo, The NFF confirmed on Tuesday that the Super Eagles will train on Wednesday morning before the match in the evening.

Mikel Obi (right) and Mohamed Elneny of Egypt

SPORT NEWS

WEDNESDAY, OCTOBER 5, 2016 NEW TELEGRAPH

U-17 World Cup:

Flamingoes face ouster Ugochi Akueze

igeria’s U-17 women’s team, the Flamingoes face early elimination from the FIFA U-17 Women’s World Cup at the Prince Mohammed International Stadium in Al Zarqa in Jordan after playing out a goalless draw with England in their Group C second match. Rasheedat Ajibade, who looked lively in attack for Nigeria, enjoyed the first opportunity in the 16th minute but goalkeeper Ellie Roebuck was on hand to deny her. England’s Georgia Stanway then saw her chance in the 24th minute tipped away for a corner. From the resulting setpiece, the ball fell to Hannah Cain inside the area, but her effort was blocked and cleared by Abidemi Ibe. England came close to opening the scoring through Stanway’s powerful free-kick, while Nigeria defender Catherine

Flamingoes’ Rasheedat Ajibade (right) vying for the ball against England’s Connie Scofield

Kenneth nearly caught Roebuck off guard with an audacious effort five minutes before the break, but the England shot-stopper held on to the tricky bouncing ball. After the break, Cain capitalised on a defensive error before racing through on goal but saw her closerange effort go wide, while Nigeria’s Folashade Ijamilusi worked her way into the box before seeing her shot

deflected out for a corner by Hollie Olding. Nigeria continued to put the Young Lionesses under pressure throughout the second half with Ezenagu’s threatening delivery in the 85th minute was collected by Roebuck, while England’s Stanway had the chance to snatch a late winner, but saw her powerful 90th-minute effort sail over.

Grand reception for Rivers United Charles Ogundiya

he Rivers State Gover nment has concluded plans to host players and officials of Rivers United to a grand reception on October 8, following its impressive showing in the just concluded Nigeria Professional Football League season. The club finished second with 60 points from 36 matches to secured one of the two CAF Champions League slot. Rangers was the other team that would be playing in the Champions League next year. The feat by Rivers United was pulled off at the first time of asking following the for mation of the club on February 19, 2016. Sports Commissioner, Boma Iyaye, revealed that the reception scheduled for the Rivers State

G ove r n m e n t H o u s e, Port Harcourt, would be used to honour the heroes who have done the State proud. “T he State is planning a reception for the team and everything is being put in place to see that it is a success,” Iyaye said. “Rivers United did remarkably well in a very short period of existence and the feat achieved has not gone unnoticed by the Rivers State Gover nment. “ T h e G ove r n m e n t will use the ceremony to recognise the success of the team.” Responding on behalf of players and officials of the club, General Manager, Chief Okechukwu Kpalukwu, thanked the State Government for the massive support which made it possible for the side to secure a Champions League ticket.

Captain of Enugu Rangers International FC, Okey Odita (L) hands over the NPFL trophy to Enugu State Governor, Ifeanyi Ugwuanyi (M) as the NFF President, Amaju Pinnick applauds

Eagles: Owolabi commends Obaje, Egbuchulam’s invitation Ubong Emmanuel

x Super Eagles winger, Felix Owolabi, is excited over the replacement of Victor Moses and Isaac Success with two home-based attackers, Godwin Obaje of Wikki Tourist, alongside Chisom Egbuchulam of Enugu Rangers. Owolabi told New Telegraph on Tuesday that Rohr’s decision to call up two local forwards to replace injured Moses and Success was a good development for the league. “For someone to have scored about 16 goals in the local league prove that the player is a world potential, if given the opportunity two of them will do well. It’s a big kudos to the local league, there are some excellent players in the League Rohr can use to qualify for the World Cup,” he added. The for mer Shooting Stars attacker stressed that the trio of Moses, Success and Balogun, would not be missed while urging the Eagles coach not to depend on individual brilliance

rather but raise a team with cohesion. “What is important is the spirit behind success, no matter who is there or who is not there, but as long as we are able to present a very formidable team, make them play as one then success will be guaranteed, if the Super Eagles should get a win or draw then there won’t be any need for anybody to be thinking about somebody.” the 1992 CAF Cup winner said. Obaje finished as the top scorer with 18 goals, which helped Wikki Tourist finished third on the log, while Egbuchulam’s 16 strikes contributed in making Rangers of Enugu champions after 32 years.

Owolabi

faces four-month lay-off Plots of land, cars Egwim nugu Rangers striker, in Enugu and should make Ifeanyi Egwim, is ex- his way to playing in the lined up for Rangers E pected to make a return sport in four months once P

lots of land and cars have been proposed for both players and officials of Enugu Rangers after they ended a 32-year wait to be crowned Nigeria champions again. A top government official disclosed: “Gover nment is looking at the possibility of rewarding the team will plots of land and cars. “Already officials have surveyed an area around the Enugu GRA and there are assurances that before the end of this month, the team will

be new car owners.” It will be noted that Enugu State Governor Ifeanyi Ugwuanyi rewarded a Paralympic gold medalist with a cash gift of a million Naira and a plot of land. On Sunday, Rangers finished top of the Nigeria premier league on 63 points from 36 matches after they hammered El Kanemi Warriors 4-0 at home. They and runnersup Rivers United will represent Nigeria in next year’s CAF Champions League.

to competitive football in four months barring any hitch, supersport.com has been informed. The club’s doctor, Emeka Onyia, disclosed on Tuesday that the former Dolphins man has undergone a first operation at the National Orthopaedic Hospital in Enugu following a tibia-fibular fracture he sustained during his team’s Nigeria Professional Football League final day game against El-Kanemi Warriors on Sunday. Onyia confirmed that the Rangers man was in stable condition after having his broken leg operation upon at the hospital

he goes through rehabilitation. He further explained why the hospital decided to operate on Egwim in Nigeria despite the Enugu governor, Ifeanyi Ugwuanyi, ordering that the player be flown abroad for treatment.

Ifeanyi

Teslimat Fashanu Memorial Tennis Classic ends in Lagos

he 3rd Teslimat Fashanu Memorial Tennis Classic was concluded weekend at the Lagos Country Club, Ikaja. A total of 32 members of the tennis section featured in the doubles event which was tagged ‘American Tournament’’ with players having different partners picked at random. Five round of matches were played

by each player and at the end of hostilities, it was Matt Holmes, the club’s in-form player that topped classification with 19 points to cart home the biggest trophy. He was closely followed by Ayo Oludemi and Omatsola Abati who also received trophies by placing second and third with 18 points. Oby Obed, Prince Adejoro Olat-

eru-Olagbegi, Kola Sofola, Tony Unuavworho, Bimbo Okubena, Niyi Ademowo and Segun Aluko all made the top ten. Tosin Osikoya, Ify Adewunmi and Lola Aluko were the top-three finishers in the women’s category. Sponsor of the tournament, Barr. Babatunde Fashanu (SAN) thanked members for honouring him with a

large turn out and participating. In view of its rigorous format, he promised to donate a defibrillator - a device that gives a high-energy electric shock to the heart through the chest wall in treating a cardiac arrest - to the club. Section chairman Arinze Onubogu described it as one of the biggest donation to the tennis section.

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WEDNESDAY, OCTOBER 5, 2016 NEW TELEGRAPH

Rooney: It was a shame to see Allardyce leave job

ngland captain, Wayne Rooney says it’s a shame that Sam Allardyce was forced to leave his job after just one game in charge. Allardyce and the Football Association parted ways after the former Bolton manager was caught out by undercover reporters from The Telegraph. “It’s a shame, everyone could see how excited Sam was for the job and he came in and

Rooney

showed that enthusiasm to the players. It’s a shame it’s happened and I’m sure he deeply regrets it. It was a decision for the FA to take,” the Manchester United forward said. “As a group of players we need to stick together and concentrate on the football. For the FA I’m sure it has been a tough couple of weeks but for the players we’ve been with our clubs and we have to focus on the games.”

CAS reduces Sharapova’s ban to 15 months rand slam champion, MaG ria Sharapova’s two-year doping ban has been reduced to 15 months following her appeal to the Court of Arbitration for Sport (CAS). The five-time Grand Slam winner, 29, was initially banned by the International Tennis Federation for two years after testing positive for meldonium at the 2016 Australian Open. Meldonium, a heart disease drug, became a banned substance on 1 January 2016. Sharapova said she had been taking the drug since 2006 for health problems and had “not tried to use a performance-enhancing substance”. She said she was unaware the drug had been added to the World Anti-Doping

Sharapova

Agency’s banned list. The former world number one said she could not “accept” the “unfairly harsh” ban when it was announced by the ITF in June. The CAS panel said it found Sharapova’s case “was not about an athlete who cheated”. The Russian will be able to return to the tennis court anytime from April 26, 2017.

Chukwu: Amapakabo to remain at Rangers Ugochi Akwueze

echnical Director of Rangers, Christian Chukwu, has said that the team’s management is doing its best to renew the contract of the head coach, Imama Amapakabo. The young coach ended his contract with the current NPFL champions, on Sunday, with the

Chukwu

conclusion of the league. Chukwu said: “Nor mally, contract has a beginning and end as well as room for renewal the contract of coach Imama Amapakabo is not an exception,” Chukwu said. “The needful is being done to ensure he continues from where he stopped, he is part and parcel of the team.” Chukwu also said the Enugu-based club would keep the league crown in the next three, four seasons. “Rangers are big team in Nigeria only that the league crown eluded us for a long time but now the side have been able to org anise themselves to win the title coupled with the fact that the players who won the title are young they are cer tain to kee p the crown in the next three, four seasons”, he said. Rangers on Sunday sealed their title win after smacking the Elkanemi Warriors 4-0. The team will campaign in Africa’s first tier club competition, CAF Champions League.

Obuah proud of Go Round FC Charles Ogundiya

elix Obuah, president of Go Round FC, has expressed his happiness with the achievements of the club in the just concluded Nigeria National League season. Obuah said on Sunday that he wanted the club to qualify to play in the Nigeria Professional Football League, but failure to achieve that does not change the fact that they had a good season. “At the start of the year, our target as usual was to qualify for the NPFL and we really put our hearts out to achieve that,” he said. “In football, you don’t get all what you wanted, but we

can’t complain because we also had a record breaking year. “Apart from having a good season, we also won the Rivers State FA Cup. We didn’t know we will win it but eventually we did and even got to the Round of 32 before we were knocked out controversially by Nasarawa United.” Meanwhile, General Manager of the club, Soni Uboh, apologised to the club president for not being able to lead the team to the NPFL. A double match bonus was paid to the team for winning the all-important game against COD United on Saturday 1-0 to ensure the Omoku based side keep their NNL status.

(L - R) Chairman, CEO HS Media Group, Taye Ige, NFF 1st VP, Chairman, Lagos State FA, Seyi Akinwumi, and SA, Sports Deji Tinubu

NCC Tennis League

Team FCT beat Kalotori to top White Group T

eam FCT, over the holiday weekend, won five of the seven points at stake to beat Team Kalotari in a White Group tie of the NCC Tennis League at the Port Harcourt Club. Former national champion Thomas Otu gave the Abujabased Team FCT the

positive start they needed to feel comfortable away from home when he beat Nonso Madueke 7-5, 6-2 in first men’s singles. Sunday Emmanuel followed with a 6-3, 6-3 victory over Daniel Odey to give the visitors a 2-0 lead. Rose Onoja further extended the lead

Lagos hosts T20 secondary schools cricket championship I n consonance with the Grassroots Sports Development mantra of the Akinwunmi Ambode led administration, and to positively engage students and the populace of Lagos, the Lagos State Cricket will organised a T20 Secondary School Cricket Competition to be held at the Cricket Oval, Tafawa Balewa Square, Lagos from 5-7 October. The competition, sponsored by the Lagos State Gover nment through the Lagos State Sports Commission, is expected to have in attendance 300 intending cricketers drawn from various schools

across the State; it would also serve as an avenue to to help discover and expose young Cricketers to standard Cricket Competitions. Secretary of Lagos State Cricket Association, Adewale Adele, said: “It is significant to note that Lagos State is the current national champion in Cricket due to the feat achieved by winning gold medal in the 18th National Sports Festival tagged Eko 2012. This competition, which is a “Catch them young Programme” would assist the state to develop the next generation of cricketers in Lagos.”

when she beat Lolia Kienka 1-6, 6-0, 6-3 in the ladies’ singles before Team Kalotari’s doubles pair of Sunday Maku and Madueke rescued a point by beating the pair of Otu and Taiwo Owolabi 6-4, 6-4. Otu and Emmanuel won their reverse singles before Team Kalotari’s pair of Maku and Patience Onebamhoin took the mixed doubles - beating Sani Adamu and Osaremen Airhunwhunde 6-4, 6-4 - to make the score a little more respectable. In the men’s doubles, Albert Bicom and Emmanuel beat Chima and Chinedu Uwagu 7-5, 6-2 while the pair of Idoko and Aiyegbusi edged Uwagu and Maduike 6-2, 2-6, 10-4. The NCC Tennis League will take a three-week break to allow the top national players take part in the Lagos Governor’s Cup starting on October 7. The tennis league resumes on October 29 with a mouth-watering tie between defending champions, Team Tombim of Abuja and Team Lead Way in Lagos. The NCC Tennis League is offering a total prize money of N17 million with the champions going home with N7 million, runner-up team N5 million, third place N3 million and fourth place N2 million.

On Marble

“Justice is the insurance which we have on our lives and property. Obedience is the premium which we pay for it. ”

Sanctity of Truth

Bola Bolawole National Assembly as scapegoat

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

–William Penn

WEDNESDAY, OCTOBER 5, 2016

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Before the Ondo governorship election

n the 26th day of November 2016, the Independent National Electoral Commission will head to Ondo State for the conduct of the stand-alone Governorship election. With the conclusion, announcement, declaration of results and return of Godwin Obaseki, the APC candidate in the Edo State Governorship election as the winner of the rescheduled September 28, 2016 the “battleground” shifts to Ondo State. The electoral “battle” or “contest” in Ondo State will be fluid, uncertain and interesting. The variables have the same birthmarks as the events in Edo State with local peculiarities. The success of the election in Ondo State will depend on the interplay of obvious and intricate electoral dynamics and variables. The fallout from the party primary nomination processes of the two major parties is still reverberating and issues are still hazy and complicated. The Peoples Democratic Party (PDP) is still embroiled in internal party disputes leading to two different party primarily elections or so it seems. The Independent National Electoral Commission (INEC), monitored the party primary election that produced the learned Senior Advocate of Nigeria, Eyitayo Jegede and accepted his nomination as the duly nominated candidate of the Party. At the other end, Jimoh Ibrahim who belongs to the Modu Sherriff faction of the PDP is claiming to be the authentic candidate of the party. The All Progressives Congress (APC) apparently conducted transparent party primary elections that produced the learned Senior Advocate of Nigeria, Oluwarotimi Akeredolu as the Governorship. The Independent National Electoral Commission monitored it and accepted him as the duly nominated candidate of the party. By a twist of events, some of the aspirants in the party primary election have refused to accept the result and one of them, Olusola Oke has birthed in the Alliance for Democracy (AD). In the main, the Ondo Governorship contest is between two Senior Advocates of Nigeria and the people expect the highest degree of electoral disciple. The two may be “battling” to govern Ondo State but the issues in the election are slightly bigger than both of them and transcend Ondo State and its politics. The “battle of Ondo” will no doubt be a continuation of the fierce electoral battle in Edo State and both bear the birthmarks of the politics of the 2019 elections. The Peoples Democratic Party (PDP) and the All Progressives Congress (APC) used Edo as a test run for the 2019 elections. The major gladiators realized the importance of the election and invested in it. The State gladiators also used the Edo State election to test their popularity, political might and “new” electoral maneuvers and manipulations. Ondo State is slightly different. In Ondo State, the old Labour Party that fused into the PDP will battle to retain

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

The APC on the other hand is confronting different variables

Mimiko

the structures it wrestled from the old forces in the PDP while some of the old forces in the PDP have moved over to the AD or are still seething in anger over their loss of the Party machinery or have joined the Jimoh Ibrahim faction. The reality on the ground in Ondo State is that the PDP, led by the incumbent Governor Olusegun Mimiko is firmly in control of the Party machinery and the APC knows that it is the candidate that he supports that they will slug it out with. The APC on the other hand is confronting different variables. Those in control of the politics of the South West geopolitical zone are fighting to retain control and will not allow any candidate that has not been anointed to seize control of the Party. There are also those that have their eyes firmly fixed on the 2019 Presidential elections and want to control the party machinery and the government machinery. The success of the Party in the November 26, 2016 elections will depend on how it is able to patch up its rifts and challenges. Undoubtedly, the internal rift in the two major Political Parties will rob off on INEC. While the Commission may insist on concentrating on its core mandate of organizing elections, it will definitely be drawn to the politics of authentic and fake candidates of the Parties. More fundamentally, INEC should replicate the systems and processes that worked in the Edo Governorship election in Ondo State. The Electoral Commission in collaboration with the

security agencies under the aegis of the Inter Agency Consultative Committee on Election Security must conduct credible security threat assessment of Ondo State and share with the critical stakeholders in the electoral process. On no account must security considerations be exploited to enhance the fortunes or otherwise of any of the political parties or the candidates. The point must be made that the National Assembly has redrawn the architecture of electoral security in Nigeria. By the new arrangement, determines when and in what manner it wants security to be used and deployed during elections. By section 29(3) of the Electoral Act, 2010(as amended) and as amended by the Electoral (Amendment) Act, 2015”Notwithstanding the provisions of any other law and for purposes of securing the vote, the Commission shall be responsible for requesting for the deployment of relevant security personnel necessary for elections or registration of voters and shall assign them in the manner determined by the Commission in consultation with the relevant security agencies”. The provision of the law sounds theoretical with little or no practical efficacy but it is the law and the relevant agencies and organs of government are under a legal duty to comply with it. We must also understand the dynamic of brazen inducement of voters that is now in vogue. Inducement of voters to cast their votes one way or the other or to dissuade them from casting their votes is an electoral offence. Sometimes, it is done openly and more often it is done outside the glare of the security agencies and the Electoral Commission. Sometimes only names of prospective clients are written and the contractors and the middlemen disburse the proceeds after the act or before the act. We cannot, therefore in good conscience use the misdemeanor of political parties and candidates to judge and or measure the performance of the electoral management body. It is expecting the impossible to expect a Presiding Officer in a strange and treacherous electoral environment to start dishing orders to the security agencies to arrest well resourced con-

tractors and middlemen sharing money on behalf of one or two dominant political parties. It is the impossible to expect unarmed polling unit security personnel to collapse the peace in the polling units through the arrest of persons with bags of money. Some of them may rather angle for their own share of the largesse. If we want to tame electoral fraud and malfeasance, we must insist on the passage and signing into law the Electoral Offence Commission Bill. This will strengthen the institutional capacity of stemming electoral impunity through the arrest and prosecution of electoral offenders. Political Parties and candidates must also utilize the provisions of section 45(1) of the Electoral Act, 2010(as amended) to secure their votes and mandate at the Polling Units as their agents are required by law to be at the polling units and to sign and be availed of a copy of polling unit results. The point here is that serious political parties ought to know whether the election has been won or lost after the counting of votes from the polling units. This is because by section 63(3) of the Electoral Act, 2010(as amended) after counting the votes at the polling unit, the Presiding Officer shall enter the scores of the candidates in the appropriate forms and shall sign and stamp and same shall be counter signed by the candidates or their polling agents and a copy given to them and the security agencies where available. The same procedure is prescribed in section 73 and 74 of the Electoral Act for Ward, Local Government, State and National Level collation. Unfortunately, some of the political parties prefer to send thugs to the polling units in the name of polling agents. In the main, the key stakeholders in the electoral process must resolve to make the stand-alone governorship election in Ondo State peaceful, conclusive and credible.

HIGH CHIEF

BUHARI TOOK OVER ASO VILLA LIKE COMBATANT –Gowon

- Once a soldier is always a soldier!

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