Wednesday, september 28, 2016 by Newtelegraphonline

FG, states, FCT commit N67.2bn to service external debt Abdulwahab Isa Abuja

he Federal Government, the 36 states and the Federal Capital Territory (FCT)

will commit N67.2 billion to servicing their external debt obligations for a six-month period (JulyDecember) 2016, New Telegraph has gathered.

The Debt Management Office (DMO’s) latest figure on external debt of federal and state governments as of June 30, 2016, according to a document

on debt service breakdown sighted by this newspaper, stood at $11.26 billion or N3.19 trillion. It was $10.32 billion or N2.03 trillion in July last year.

External debts represent portion of debt owed the multilateral bodies such as World Bank group (IDA, IBRD), Africa Development Bank (AfDB)

Recession: Obasanjo recommends external borrowing }44

and other bilateral bodies such as China Exim Bank, France AFB, Japan Jica, India Exim Bank; German and Euro bonds. The debt service obligation document computed CONTINUED ON PAGE 6

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Buhari's minister accused of complicity in $13.92bn repatriation probe }3

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Vol. 3 No. 952

Wednesday, September 28, 2016

Enelamah

Ooni appoints Ogunwusi as Sooko Laekun }9

Ogunwusi

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Six die in Akwa Ibom tanker explosion }8

Jubrin

FG liquidates oil, gas royalties, taxes in $7bn JV arrears }5

N150

Baru

governorship poll:

US convicted terrorist on Edo voters' register

lAPC to announce fake results in 9 LGAs –PDP }4 lOshiomhole raises the alarm on voters' register Special report on pages 11 - 15 & 18

FG arraigns ex-Naval Chiefs }5 over N600m fraud

Jibrin

Ahmadu

Mshelia

Senate to FG: You can’t sell national assets

lUrges executive to submit Economic Stimulus Bill }6 First 'three parents baby’ worldwide born }7

WEDNESDAY, SEPTEMBER 28, 2016 NEW TELEGRAPH

NEWS

WEDNESDAY, SEPTEMBER 28, 2016 NEW TELEGRAPH

US convicted terrorist on voters' register

Onyekachi Eze, Philip Nyam, Temitope Ogunbanke, and Cajetan Mmutam

he portrait of a convicted terrorist, Umar Farouk Abdulmutallab, popularly referred to as the "Underwear Bomber", is in one of the ‘voters’ registers’ in circulation ahead of today’s gubernatorial election in Edo State. Abdulmutallab was convicted in the United States of attempting to detonate explosives hidden in his underwear on board an airline from Amsterdam to Detroit, Michigan, on December 25, 2009. Governor Adams Osh-

iomhole made the allegation yesterday when he raised the alarm on the existence of a fake voter’s register in the state. Speaking during a visit to the governor by the United States Consul General in Lagos, Mr. F John Bray, Oshiomhole said he was shocked to see the portrait of the “underwear bomber” in the fake register, but with a Benin name. Oshiomhole, who raised concern about the duplication of the voters’ register by the Independent National Electoral Commission (INEC), said: “Right now, we have evidence of two versions of voters’ register – the one they have officially been distributed and the one that some elements within the ICT in INEC have also produced in

Abuja. And what they have done in the past, which we hear they want to re-enact again, is that whereas they will display one voters’ register which is reasonably accurate, there are still some flaws, but let me say it is about 85 per cent accurate, they also have a fake one which they intend to bring and spring a surprise in certain locations where they believe that they have no chance, and when the voters go there and you find a voters’ register different from the one that you know, there will be confusion in those voting centres. “For example, I was shocked to find the portrait of Mr. Abdulmutalab, and that will interest your Excellency, the young man who has been jailed in the US for a terrorist act. His

portrait is in the fake voters’ register with a Benin name under it. I am sure if you look at the face, if we don’t know the face, you the US officials know the face. And you find the name under it, that it is a Benin name in Ovia South West.” He said INEC has enlisted some members of the opposition as election observers. “Last night, in my local government, one of the Peoples Democratic Party (PDP) leaders, who incidentally is on the list of INEC observers, I can be very specific, one Tenebe, we have information that he got boys around and they were shooting, but the police went to apprehend them; they engaged the police in a shooting. The police had to go and reinforce. As we speak, I don’t

L-R: Indian Vice President, Mohammad Hamid Ansari; President Muhammadu Buhari and Vice-President Yemi Osinbajo, during a visit to Buhari in Abuja…yesterday. PHOTO: TIMOTHY IKUOMENISAN

Obasanjo wants N5.8trn pension funds spent on infrastructure

lBuhari lauds policy as World Pension Forum opens in Abuja Abdulwahab Isa Abuja

ormer President Olusegun Obasanjo has challenged pension managers to invest a portion of an estimated N5.8 trillion pension fund in housing and key infrastructures in order to speed up development in key sectors of the economy. Speaking yesterday in Abuja at the third edition of World Pension Summit (Africa Special), the former president made reference to Singapore as a classical example of countries that maximally utilised pension asset to solve housing challenge confronting their citizens. The theme of this year’s summit is “Pension Innovations: The African Perspective.” "We must find a way of using the pension fund to help our development particularly infrastructural development. There are examples we can take in the world. For instance, Singapore is a good example where pension fund has been used to ensure that no Singaporean is without

a house. “There is no reason why we can’t go along that way here. Then, infrastructures, such as roads, especially toll roads. There is no reason why it is not one of the things we should embark upon. I will challenge you to, in the next two days, think innovatively, think outside of the box, but think with caution," he added. The former president, whose tenure as president laid the foundation for the Contributory Pension Scheme (CPS), advised pension managers to be cautious and extremely careful with innovation into the scheme. He said while innovation was allowed, such innovations must impact positively on pensioners. Also, President Muhammadu Buhari said that Nigeria’s Contributory Pension Scheme had, to a large extent, stabilised the nation’s pension administration. According to Buhari, it is globally acknowledged that pension matters occupy a strategic place not only as a vital component of social security, but also

as a vehicle for nation building. The president, represented by the Head of Service of the Federation, Mrs. Winifred Ayo-Ita, said the summit would enable countries and stakeholders to brainstorm on how to tackle their economic challenges. “Nigeria in 2004 established contributory pension scheme due to its advantages such as sustainability as a system with framework that would eliminate incentives for corruption. “Also, it is noteworthy that within 12 years of implementing contributory pension scheme in the country, it has to large extent, stabilised our pension administration system," he said. He called on the National Pension Commission (PENCOM) to extend its net to people in informal sector. Buhari also directed PENCOM to step up its enforcement drive to public and private sector institutions to ensure full compliance and in line with the enabling law. Eric Eggink, Founder,

World Pension Summit, said due to innovation of Android phones, many people could now invest in pension scheme anywhere they used their mobile phones. Mrs. Chinelo AnohuAmazu, Director-General of PENCOM, said after a long period of faltering economic performance, there had been resurgent growth over the last decade in African countries’ Gross Domestic Progress (GDP). She listed African unique entrepreneurial/ innovative spirit, emerging from its industries, and smaller innovative initiatives such as the portable irrigation technology as some of the factors that led to the growth of African economies. She, however, explained that Africa’s infrastructure by far remained the most deficient sector hampering the continent’s development. The summit was attended by important dignitaries including Governor Nasiru el-Rufai of Kaduna State; former Governor of Cross River, Donald Duke; NLC President, Ayuba Wabba, and President of TUC, Kaigama Bala.

have information as to how that was settled. If you have people like this engaged in violence, then it poses a challenge.” “Unfortunately, it takes more than one hand in this case to achieve a free and fair election. All the political parties must be committed to putting away this thing. “So we have quite a number of locations now where we know PDP has a lot of these criminals. We are also not satisfied the way INEC manages observers. It has become a business. All manners of criminals and unemployed persons, all under-employed persons or greedy people, they have become mercenaries available,” he said. Oshiomhole said the state government is totally committed to a free, fair and credible election. The United States Consul General, who led a delegation of election observers to the Government House, said, “we will all be watching this election very closely.” But INEC denied the allegation of registering PDP members as election observers. Mr. Nick Dazang, Deputy Director Voter Education and Publicity, INEC, said no member of the PDP was accredited as election observer in Edo. Meanwhile, the PDP said it has uncovered plot by the All Progressives Congress (APC) to announce fake result of today's governorship election in Edo State. The plot, according the party, which was hatched in connivance with INEC, included the distribution of fake results sheets to polling units in different areas of the state. In a statement yesterday by the party’s National Publicity Secretary, Prince Dayo Adeyeye, PDP further alleged that APC is planning to use INEC's "Local Government Collation Officers to write fictitious results on real results sheets of some local government areas." It said that despite the warnings of President Muhammadu Buhari to INEC and security agencies, the ruling party in Edo State is planning to use thugs brought into the state from other states to harass and intimidate the citizens of Edo State while security agencies will be used to arrest, harass and intimidate members and supporters of the PDP; and to provide security cover for members of the APC to execute their nefarious plots. Also, the Edo State chapter of the PDP said it had uncovered a plot by the APC, acting in concert with INEC to rig today’s election in nine local government areas where fake results have been written. Publicity Secretary of the PDP, Mr. Chris Ne-

hikhare, at a press conference in Benin, alleged that the planned rigging was being coordinated by some highly-placed INEC officials, namely Mrs. Amina Zakari, an INEC national commissioner; Mrs. Imoudu Sule, Edo State INEC Public Relations Officer (PRO); the Delta State REC; and the National Deputy Director of Operations. Nehikhare stated that the plot was specifically under the supervision of Zakari, through the Resident Electoral Commissioner of Delta State. The PDP spokesman alleged that Mrs. Sule is in charge of the disbursement of money to compromise selected local government electoral officers. He said that so far, Mrs. Sule had distributed N2 million each to nine electoral officers whose local government results are being written before ballots are cast, to favour the ruling APC. But the INEC PRO denied the allegation. “The people I am working with know the kind of person I am. Therefore, anybody can say whatever he or she likes. My work has to do with publicity," she told New Telegraph. In another development, the National Assembly caucus of the PDP has accused INEC officials and the Nigeria Police of planning to rig the governorship election in favour of the APC. The lawmakers, who made the allegations at a press briefing in Abuja, alleged that there was an arrangement between the INEC and APC to issue sensitive materials, particularly result sheets and incident forms to the ruling party before the election to enable them to originate fake results, which would be submitted with the assistance of security men deployed to the state from Abuja. Minority leader of the House of Representatives, Hon. Leo Ogor, who led the briefing disclosed that the security men from Abuja would act as conveyors into the collation centres, adding that the suspected 'compromised' INEC Returning Officers recruited by the APC would declare the fake election results at the police stations and other collation centres under police protection. The PDP also raised the alarm on the move by the Presidency to place its leaders under security watch. Top on the list of those who have been purportedly watch-listed are former chairman of the Board of Trustees of the PDP, Chief Tony Anenih, former minister of foreign affairs, Chief Tom Ikimi, business mogul, Chief Gabriel Igbinedion, governorship candidate of the party, Pastor Osagie Ize-Iyamu and state chairman of the party, Chief Dan Orbih, among others.

NEWS

WEDNESDAY, SEPTEMBER 28, 2016 NEW TELEGRAPH

Senate probes MTN over repatriation of $13.92bn …accuses Buhari’s minister of complicity lSays firm violated foreign exchange law

Onwuka Nzeshi Abuja

he Senate yesterday mandated its Committee on Banking, Insurance and Other Financial Institutions to investigate an alleged violation of the foreign exchange (Monitoring and Miscellaneous) Act by telecommunications giant, MTN Nigeria. The investigation was ordered following the adoption of a motion sponsored by Senator Dino Melaye (APC/Kogi West) in which MTN was alleged to have il-

legally repatriated the sum of $13.92 billion out of Nigeria through its bankers between 2006 and 2016. The telecommunications firm, which has its parent company in South Africa, was incorporated in Nigeria as a private limited liability company on the 8th of November 2000 and obtained its operating licence with $284,906,275.89 on February 6, 2001. In the motion, Melaye stated that as at the time of its incorporation, MTN neither requested for a certificate of capital importation from its bankers, Standard Chartered Bank, nor did its

FG arraigns ex-Naval Chief, others over N600m fraud Tunde Oyesina ABUJA

he Federal Government yesterday arraigned a former Chief of Naval Staff, Vice Admiral Usman O. Jibrin, Rear Admiral Bala Mshelia (rtd) and Rear Admiral Shehu Ahmadu (rtd) before an Abuja High Court over alleged N600 million fraud. The prosecuting agency, the Economic and Financial Crimes Commission (EFCC) had slammed a four-count charge bordering on criminal conspiracy on the defendants. Joined alongside the three defendants is Habour Bay International Limited. According to the charge, the defendants, while in office, allegedly bought a house worth N600 million from the account of Naval Engineering Services without the said purchase contract being captured in the budget. It was also alleged that the documentation for transfer of ownership of the property was done such that a private company owned by the family of the first defendant (Vice Admiral Jubrin) became the buyer. The offence is in contravention of Section 26 (1) (b) and punishable under Section 22 (4) of the Corrupt Practices and Other Related Offence Act 2000. When the charge was read to them, they all pleaded not guilty. After taking their plea, counsel to EFCC, Abdullah Faruk, asked the court for a date for commencement of trial. However, Y. C. Maikyau (SAN), representing the first and fourth accused, through an oral application made pursuant to Section 36(5) of the Nigerian Constitution, sought for

the bail of his clients. Maikyau told the court that the defendants had been enjoying administrative bail granted them by the EFCC and had never breached any of its terms. The counsel stated that though he had earlier filed and served the prosecution with a formal bail application, he felt the need to move an oral application subject to the discretion of the court. Counsel representing second and third accused, relied on the arguments canvassed by the learned silk in seeking bail for their clients. In response, Faruk told the court that he was served this morning and asked for time to enable him respond appropriately. The trial judge, Justice A.S Umar, after listening to the submissions of counsel on both sides, adjourned to today for hearing on the bail application.

bankers notify the Central Bank of Nigeria (CBN) of this cash inflow. The lawmaker disclosed that investigations have shown that the sum of $117,683,987 was also brought in by MTN between 2001 and 2003 in three different tranches. Section 15 of the Foreign Exchange (Monitoring and Miscellaneous) Act 1995 states inter alia that: "Any person may invest in any enterprise or security with foreign currency or capital imported into Nigeria through an authorized dealer either by telegraphic transfer, cheques or other negotiable instruments and converted into naira in the market in accordance with the provisions of this Act. "The authorized dealer through which the foreign currency or capital for the investment referred to in subsection (1) of this section is imported shall, within 24 hours of the importation, issue a Certificate of Capital Importation to the investor and shall, within 48 hours thereafter, make

returns to the Central Bank, giving such information as the Central Bank may, from time to time, require. "The Central Bank shall furnish to the minister on a quarterly basis, detailed reports on the returns furnished to the Central Bank under subsection (2) of this section for information and statistical purpose only. "Foreign currency imported into Nigeria and invested in any enterprise pursuant to subsection (1) of this section shall be guaranteed unconditional transferability of funds, through an authorized dealer in freely convertible currency relating to-(a) Dividends or profits (net of taxes) attributable to the investment; (b) payments in respect of loans servicing where a foreign loan has been obtained and (c) the remittance of proceeds (net of all taxes) and other obligations in the event of sale or liquidation of the enterprise or any interest attributable to the investment. "The repatriation re-

ferred to in subsection (4) of this section shall be communicated by an authorized dealer to the Central Bank within 14 days of the repatriation and the Central Bank shall furnish same to the minister on a monthly basis for information and statistical purposes only." Melaye expressed concern that since inception, MTN had sought the collaboration of some influential Nigerians to assist it in looting Nigeria's external reserves, adding that this connivance has enabled MTN to move out a whooping $13.92 billion out of Nigeria, which is over 50 per cent the nation's external reserves. He accused some prominent Nigerians, including a serving minister, of aiding and abetting the alleged capital flight through their floating of Special Purpose Vehicles (SPVs) in Cayman Island, Mauritus and British Virgin Island as receptacles. Melaye accused the Minister of Industry, Trade and Investment, Dr.

Okechukwu Enelamah of being part of the conspiracy, stressing that these offshore entities were offered shareholders loan and their repayment to the extent of repatriation of proceeds of dividends back to MTN International South Africa through the entities and operators of SPVs brought on board as Directors of MTN Communications. The lawmaker also accused MTN of directing its bankers namely, Standard Chartered Bank, Citi Bank and Diamond Bank to issue certificate of capital importation for inflows that came in five to seven years ago, which their bankers obliged to without the relevant approval from the Central Bank of Nigeria. These actions, he said, were unhealthy, particularly for Nigeria now that the country was enmeshed in an economic recession. The Senate Committee on Banking, Insurance and Other Financial Institutions has been given two weeks to investigate the matter and submit a report on its findings.

L-R: Minister of Finance, Mrs. Kemi Adeosun; Gombe State Governor, Ibrahim Dakwambo; Ogun State governor, Ibikunle Amosun and former President Olusegun Obasanjo at the ongoing National Council on Financial and Economic Development (NACOFED), in Abeokuta... yesterday

FG liquidates oil, gas royalties, taxes in $7bn JV arrears Adeola Yusuf

he Federal Government yesterday declared plans to liquidate future oil and gas royalties and taxes in new payment modalities for Joint Ventures (JV) cash call arrears. The government's debt overhang, through the Nigerian National Petroleum Corporation (NNPC) in cash calls to multinational and indigenous oil companies it operates Joint Venture (JV) project with, has reached about $7 billion. Group Managing Director of NNPC, Dr. Maikanti Baru, who disclosed the new payment plan during his first official visit to Lagos, maintained that this first line charge model was required for the current JV payment structure.

He added that the new model being proposed by the NNPC would enable the corporation plough back the profit and grow the oil and gas business in the upstream for the benefit of all stakeholders. Baru, who earlier commissioned four tanks at Mosimi Depot in Ogun State to boost the storage capacity of the depot to a new high of 87.92 million litres, disclosed that the 12 key business focus areas of the NNPC under his watch were targeted at rejuvenating the entire business operations in order to enable the Corporation to deliver on its core mandate to all its stakeholders. The NNPC boss paid a working visit to the National Petroleum Investment Management Services (NAPIMS), a Corporate Service Unit of the Corpo-

ration in charge of Federal Government portfolios in the upstream sector. He described NAPIMS as a strategic CSU and sued for maximum support from members of staff to enable the Corporation meet its set goals in the short, medium and long term. Earlier, the Group General Manager, NAPIMS, Mr. Dafe Sajebor, who was represented by the General Manager, Production Sharing Contract, Mr. James Jock, assured the GMD that NAPIMS would ensure efficient management of all Joint Venture and Production Sharing Contract arrangements, even in the face of dwindling crude oil prices and incessant pipeline vandalism. In a related development, the GMD also

promised to reposition the National Engineering and Technical Company (NETCO) into an African hub of excellent engineering, procurement and construction company of choice. Baru made this commitment during the maiden Town Hall meeting with management and staff of NETCO at its headquarters in Lagos. He said NETCO, as a strategic business unit, had, over the years, delivered profit to NNPC, assuring that the outfit would continue to play the pivotal role of providing in-house professional engineering services to all the autonomous business units of the corporation and other clients. On his part, the Managing Director of NETCO, Engr. Siky Aliyu, noted

that NETCO was challenged by low patronage by some ABUs of NNPC and international oil companies (IOCs). According to him, the company is determined to harness all opportunities in the oil and gas project portfolios in order to keep producing a positive bottom-line. Earlier, the GMD said during the commissioning of the four tanks: 11, 12, 13 and 22 at Mosimi depot that the exercise was apt as it fits into one of NNPC’s 12 Key Business Focus Areas, the restoration of oil and gas infrastructure. According to him, it is pertinent to point out that this "project has not only restored the original combined storage capacity of 87.70 million litres for the four tanks, but also increased it by 220,000 litres.

NEWS

WEDNESDAY, SEPTEMBER 28, 2016 NEW TELEGRAPH

Senate to FG: You can’t sell national assets

Chukwu David Abuja

he Senate has overwhelmingly rejected the proposal by the Federal Government to sell some national assets as a means of raising the nation's capital base, to help effectively tackle the present economic recession. The Senate also urged the Federal Government to immediately review the operations of the Treasury Single Account (TSA), as the parliamentarians noted that its implementation had contributed to starving the system of funds. The Upper Chamber further urged the executive to, as a matter of urgency, submit an Economic Stimulus Bill containing all the fiscal stimulus packages, investments and incentives designed to pull the country out of recession, to

the National Assembly for accelerated consideration and passage. It also called on the Federal Government to increase allocation in annual budgets for agriculture and solid minerals sectors, in consonance with the present administration's quest to diversify the economy and make it non-oil based. These recommendations were contained in the report submitted by the sixman ad-hoc committee set up by the Senate last week for harmonisation of submissions made by senators during their general debate on the economic recession and measures towards getting the country out of the situation. The Federal Government had signified interest in the sales of national assets, including refineries, airports, shares in the NLNG and joint ventures, to raise $15 billion. Already, the labour

unions – NLC, TUC, PENGASSAN – and other groups have kicked against the sale of the national assets. The Senate had, on resumption from annual recess last week, went into a two-day elaborate debate on the state of the economy, suggesting short term, medium term and long term measures to address the economic challenges afflicting the country at the moment. The debate was prompted by the speech read on the floor of the Chamber last Tuesday, by the President of the Senate, Bukola Saraki, in which he raised 14-point recommendations on how to quickly end the hardship on the citizenry, occasioned by the economic meltdown. In one of the recommendations, Saraki enjoined the executive arm of government to increase the dwindling foreign

reserves by selling some important national assets including part sale of the Nigeria Liquefied Natural Gas (NLNG) Holdings and other resources. However, most of the senators who contributed to the debate, including the Deputy President of the Senate, Ike Ekweremadu, Senate Chief Whip, Olusola Adeyeye, Ovie OmoAgege, Sonni Ogbuoji, Shehu Sani, George Akume and Bala Na'Allah among others, all kicked against the proposal, stressing that disposing of the assets would hurt the system in future. At the end of the debate, Saraki set up a six-man adhoc committee to articulate the various recommendations of the individual senators and come up with a report, which was considered and adopted yesterday by the Chamber. The committee, however, in its recommendation

L-R: Executive Commissioner, Technical Services, Nigeria Communications Commission (NCC), Maska Ubale; Executive Vice Chairman, Prof. Umar G. Danbatta; Director, Public Affairs, Mr. Tony Ojobo and Director, Human Capital and Infrastructure Group, Mrs. Maryam Bayi, at a media briefing in Abuja…recently.

on the sale of national assets, tried to persuade the Red Chamber to approve the proposal and support the Executive in the initiative, but most of the senators resisted the attempt and it was out rightly rejected. Other recommendations adopted by the Senate include; urging the executive arm to ensure constant meeting of fiscal and monetary authorities for harmonization of all policies, particularly on actualising lower interest rates for genuine investors in the real sector, as well as medium and small scale farmers and processors. It further recommended that the government must engage in meaningful and inclusive dialogue with the aggrieved Niger Delta militants to avoid escalation of the unrest in the region and ensure protection of Nigeria’s oil and gas assets to facilitate increase in oil production and boost revenue therefrom. Consequently, the recommendation added that the President should as a matter of urgency, appoint a Senior Special Assistant, who should lead a team that coordinates the government’s engagement with all stakeholders in the region, specifying that the team should include senators from the zone. The Senate also adopted the recommendation urging the president to reconstitute the Board of the Central Bank of Nigeria (CBN) and all other critical agencies in order that they operate in accordance with the enabling laws. It also adopted a rec-

ommendation seeking for amendment of section 162 of the constitution to make it possible for Federal Government to save money for rainy days such as a period of recession. To ensure that the recommendations get to the president on time, the Senate also resolved that the report of all the 22-point recommendations should be personally delivered to President Muhammadu Buhari by the President of the Senate. When the lawmakers concluded the adoption of the resolutions, the Senate Whip, Adeyeye (APC Osun Central), came through order 43 of the Senate Standing Order, to emphasise that the resolutions so adopted represented the corporate decision of the Senate as against individual submissions made by senators last week, during the general debate. He expressed concern that some journalists ascribed views of individual lawmakers to be the positions of the Senate in their various reports, appealing to the media to present the collective positions of the Senate properly. Saraki commended his colleagues for taking the debate seriously and demonstrating high level nationalism and patriotism in their contributions. The Senate later adjourned to Thursday without giving any explanation, but New Telegraph learnt that it was because of Saraki and Ekweremadu's appearance in court today for the forgery suit brought against them by the Attorney General of the Federation.

FG, states, FCT commit N67.2bn to service external debt CONTINUED FROM PAGE 1

by DMO – a copy believed to have been sent to each state and the FCT, showed that of N67.2 billion estimated debt service, federal government has the highest debt service obligation in sum of N50.6 billion, followed by Lagos, N4.9 billion; Cross River, N1.3 billion and Kaduna, N 1.050 billion. The breakdown revealed that in July, Lagos State serviced its debt with N377.2 million, N904.6 million in August, same amount for September, October, November and December obligations. Kaduna State’s debt service obligation in July was N124.4 million, N185.2 million in August, while same amount was committed from September to December. Cross River's debt service obligation in July was N166.4 million, N244.7 million in August, while

same amount was committed from September to December. The Federal Government serviced its debt with N5.087 billion in July, N2.9 billion in August and will repeat the same figure till December. Other states and their cumulative debt service obligation for six months (July - December) are as follows: Abia N156.8 million, Adamawa N222.1 million, Akwa Ibom N590.9 million, Anambra N260.9 million, Bauchi N379.1 million, Bayelsa N170.1 million and Benue N124.6 million. Also included are Borno, N100.2million; Delta, N143.2million; Ebonyi, N200.1 million; Edo, N416.8 million; Ekiti, N268.2 million; Enugu, N295.6 million; Gombe, N283.3 million and Imo, N274.4 million. Others states and their debt obligation schedule till December 2016 are:

Jigawa, N163.1 million; Kano, N302.5 million; Katsina, N615.4 million; Kebbi, N218.4 million; Kogi, 145.2 million; Kwara, N165.7 million; Nassarawa, N171.1 million and Niger N231.5 million. Others are Ogun, 447.1 million; Ondo, N287.8 million; Osun, N580.2 million; Oyo, N737.7 million; Plateau, N119.4million; Rivers, N255.2 million; Sokoto, N207 million; Taraba, N93.06 million; Yobe, N240.1 million; Zamfara, N132.9 million and FCT N218.2 million. The sub total amount for states and FCT as debt service obligation for the six months grossed N16.5 billion. Five states – Lagos, Kaduna, Cross River, Ogun and Edo – were ranked the most heavily indebted states with each having over $100 million external loans. While Lagos State is reputed of having the financial muscle to repay

its $1.087 billion credit facilities because of its high Internally Generated Revenue (IGR), same cannot be said of other high ranking indebted states. The continuous drop in monthly revenue available for sharing to the three tiers of government, occasioned by drop both in oil output and crude oil price, has weakened the financial capacity of most states, with many unable to discharge their financial obligations to their workers and contractors. The deduction of debts service obligation by the DMO at source from the share of revenue due to indebted states, leave states with little funds to embark on developmental projects with most grappling with payment of salaries. Data on external debt profile of states show Lagos State has the highest debt profile of $1.087 billion, followed by Kaduna State with a total of $234

million. Cross River State followed closely with an external debt profile of $131.469 million. Other states with relatively large external debt are Edo, $123 million; Ogun, $109 million; Bauchi, $87 million; Enugu, $62 million; Katsina, $78 million; Osun, $67 million and Oyo State, $72 million. DMO's latest statistics on the country’s total debt (external and domestic) as of June 2016, put Nigeria's debt at N16.29 trillion. As of June 2015, the country’s total debt stood at N12.12 trillion, an indication that within the one-year period (July 2015 to June 2016), the country’s total debt rose by N4.17 trillion, or 34.41 per cent. A breakdown of the country’s debt profile shows that external debt by the federal and state governments stood at $11.26 billion or N3.19trillion as of June 30, 2016. It was $10.32 billion or N2.03 tril-

lion by July last year. The DMO figure was arrived at using the Central Bank of Nigeria (CBN’s) official exchange rates of N283 to $1 as of June 30, 2016, and N197 as at December 2015, to get the naira equivalent of the foreign debt status. The Federal Government's domestic debt stood at N10.61 trillion as of June this year, up from N8.4 trillion a year ago, indicating an increase of N2.21 trillion or 26.31 per cent. The domestic debt of the states stood at N2.5 trillion at the end of June this year, whereas it was N1.69 trillion in July 2015. This means that within a period of one year, the domestic debt of the states rose by N810 billion, an increase of 47.93 per cent. The Nigerian Treasury Bills accounted for N2.9 trillion or 27.36 per cent of the Federal Government’s domestic debt profile.

national | news

wednesday, september 28, 2016 NEW TELEGRAPH

$15.5m: Dudafa asks court to reverse firms' guilty plea Akeem Nafiu

aripamo-Owei Emmanuel Dudafa, an aide to former President Goodluck Jonathan and one of his co-accused persons in an alleged $15.5 million fraud, Amajuoyi Azubuike Briggs, have urged Justice Babs Kuewumi of the Federal High Court in Lagos to reverse the guilty plea entered into by four firms charged with them by the Economic and Financial Crimes Commission (EFCC). The firms; Pluto Property and Investment Company Ltd, Seagate Property Development and Investment Company Limited, Trans Ocean Property and Investment Company Limited and Avalon Global Property Development Company, a forthnight ago pleaded guilty through their representatives. They were represented by Friday Davies, Agbor Baro, Dioghowori Frederick and Taiwo Ebenezer respectively. At yesterday's proceedings, Dudafa's lawyer, Gboyega Oyewole, in-

formed the court that he had filed an application seeking to set aside the guilty plea of the companies. Briggs' lawyer, Tochukwu Onyiuke, also filed similar application. However, an argument ensued when the EFCC lawyer, Rotimi Oyedepo, insisted that the court should focus on the business of the day which was to review the facts of the case involving the four accused persons that had already pleaded guilty. Oyedepo argued that the applications were in breach of Section 271(b) of the ACJA as it is only after the prosecution has reviewed the facts of the firms' case that the court would intervene. Sanity was later restored when the judge directed the defence lawyers to move their applications. Moving his application, Oyewole submitted that the application which was filed pursuant to Sections 274, 396, 477 and 478 of the Administration of Criminal Justice Act (ACJA) 2015 is seeking an order setting aside the guilty plea of the

representatives of the four firms for being a breach of judicial process. He said the guilty plea was an abuse of the court process owing to the pendency of a suit filed by Mrs Patience Jonathan, against the EFCC, Dudafa and the four firms wherein she was laying claim to the ownership of the sum of $15.5 million, which the anti-graft agency claimed was laundered. According to him, "the EFCC should have taken care of the issue of the person laying claim to the money before foisting a guilty plea on the court". Oyewole further posited that one of the firms' representatives, Taiwo Ebenezer, had also indicated in a statement that he has nothing to do with any firm, saying it was curious that that the same person would now come to plead guilty to an offence committed by a company he knew nothing about. He maintained that he has a duty to file the application because it is a joint trial and that the guilty plea will definitely affect other defendants negatively.

FIRS collects N34.8bn education tax in 6 months Yekeen Nurudeen Abuja

he Federal Inland Revenue Service (FIRS) has collected N34.8 billion as education tax in the first half of 2016, Executive Chairman of the agency, Tunde Fowler has said. Fowler, who made this known yesterday during a joint Tertiary Education Trust Fund (TETFund)/FIRS interactive forum in Port Harcourt, Rivers State, said the collection was based on two per cent education tax on companies for the development of the nation's tertiary institutions. Represented by FIRS' Director of Careers and Skills Development, Mrs Junila Takom, Fowler, however, said the amount collected fell below the N74.9 billion target for the same period, adding that the agency would work hard to achieve the

N153

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

President/CEO, General Electric (GE) Africa, Jay Ireland, presenting the '2016 African Business Leader Award,' to President/CE, Dangote Group, Aliko Dangote, during the AfricaAmerica Institute's (AAI) Award, in New York …recently.

year's target. "FIRS as the collecting agent is making frantic efforts to ensure that 2016 target of N149.8 billion is met and surpassed," Fowler said. On his part, the Executive Secretary of TETFund, Dr Abdullahi Bichi Baffa, said FIRS has a major role to play by ensuring the improvement in the education tax collections that are made available to the Fund for disbursement to public tertiary institutions.

he world's first ‘three parent’ baby using a new fertility technique has been born in Mexico. According to a report on the telegraphuk, the method – which incorporates DNA from three parents – is only legally approved in the United Kingdom (UK). The five-month-old Abrahim Hassan, a male, has the usual DNA from his mum and dad, plus a tiny bit of genetic code from a donor. The new technology is called mitochondrial donation. In the traditional method of conception, only two persons - eggs from a female and sperm

from the male are bought together for fertilisation. This is the first time worldwide when three persons would be involved in conception. United States (U.S) doctors behind the breakthrough birth of Abrahim Hassan, took the unprecedented step to ensure the baby boy would be free of a genetic condition that his Jordanian mother carries in her genes. Experts have hailed the development, saying the move heralds a new era in medicine and could help other families with rare genetic conditions. Mitochondria are tiny compartments inside nearly every cell of the body that convert food into usable energy.

Some women carry genetic defects in mitochondria and they can pass these on to their children. Scientists have devised a number of ways to circumvent this problem. The child was born to Ibtisam Shaban and Mahmoud Hassan, from Jordan, who had been trying to start a family for almost 20 years. Abrahim’s mother, Ibtisam Shaban, carries genes for Leigh syndrome, a fatal disorder that affects the developing nervous system. Genes for the disease reside in DNA in the mitochondria, which provide energy for the cells and carry 37 genes that are passed down via the mother’s side.

in Aso Rock Anule Emmanuel Abuja

resident Muhammadu Buhari, yesterday, met behind closed-doors with the Speaker of the House of Representatives, Yakubu Dogara and Sokoto State Governor, Aminu Tambuwal at the Presidential Villa, Abuja. Dogara and the Sokoto governor drove into villa in the Speakers official vehicle and headed straight into the President's office. They came out after about 45 minutes. Both leaders declined to speak with State House correspondents on the purpose of their meeting with the President.

"The only source of funding for TETFund stipulated by law is the two per cent education tax charged on assessable profits of companies operating in Nigeria," Baffa said. While lauding the efforts of President Muhammadu Buhari to boost the non-oil sector of the Nigerian economy, Baffa said about 80 per cent of education tax being collected by FIRS was from the oil sector.

Udoma: Foreign reserves drop to $24.74bn

he Minister of Budget and National Planning, Senator Udoma Udo Udoma, has said that the Federal Government was working on a stimulus plan that would revive the country’s ailing economy. He also said that Nigeria’s foreign reserves had reduced from $26.51 billion from the second quarter of 2016 to $24.74 billion in September. Udoma said this at the 57th annual conference of Nigeria Economic Society (NES) with the theme“the developmental state and diversification of the Nigerian economy’’ yesterday in Abuja. He said the economic management team had been working to assemble a stimulus package to be raised from concessioning advance payment for licence renewals, use of recovered funds and some asset sales. Udoma said that the package was being worked upon and yet to be finalised, adding that to achieve this speedily, “ we are working to fast track procedures through presidential directives and legislation. “I want to emphasise that notwithstanding the current economic challeng-

First 'three parents’ baby’ worldwide born Buhari meets Dogara, Tambuwal Appolonia Adeyemi

While Dogara kept mute, Tambuwal parried most of the questions from the journalists. On whether the meeting had to do with the House of Representatives, Tambuwal said: "Not at all." Asked if it had to do with recession and sale of assets, the Sokoto State governor said "I have already aired my views on the sales of assets." Asked further if the meeting had anything to do with the clash between the National Leader of the All Progressives Congress (APC) and former Lagos State Governor, Asiwaju Bola Tinubu and the APC National Chairman, John Odigie-Oyegun, he responded with: "I don't know about that."

es we face, we are not discouraged at all and this is a crisis we must not waste. “We should see this crisis as an opportunity for us as a country to make those major structural changes needed to change this economy for good. “We should use this crisis to implement the reforms needed to unlock the economic potentials of the non-oil and high employment sectors.” He said such would achieve a sustainable inclusive growth that would enable the majority of Nigerians to become more productive. He said Nigeria had revenue and foreign currency concentration problems, adding that diversification was the only solution. The minister said due to four strategic pipeline terminals that were blow up, Nigeria had been unable to achieve its 2016 Budget production target of 2.2 million barrels a day. Udoma said in August, the country was barely able to produce 1.1 million barrels. “Last week, production level rose up to 1.7 million barrels, still a far cry from the country’s target of 2.2 million barrel. “We are taking a number of immediate measures to raise revenues to strategically spend our way out of recession. “We are taking measures to address the disruption in Niger Delta to restore production. “We are fast tracking our efforts to raise foreign currency loans that we have projected in the 2016 budget, from AfDB, World Bank, Chinese Exim Bank as well as Euro Bond issue. “We are happy to note that the president of AfDB has announced that we should expect, among other facilities, a budget support of $1 billion dollars next month,’’ Udoma said. Udoma said that government was working on a programme with the private sector to launch madein-Nigeria campaign.

WEDNESDAY, SEPTEMBER 28, 2016 NEW TELEGRAPH

METRO

ABIODUN BELLO

...CRIME, CITY WATCH, COURTS

Six die in A’Ibom tanker explosion

Scene of the accident

Tony Anichebe Uyo

t least six persons lost their lives when a petrol tanker coming from the Nigerian National Petroleum

Corporation (NNPC) Depot in Calabar, Cross River State, crashed into a pavement, at Obong Itam, Itu Local Government Area of Akwa Ibom State. Policemen on the highway were said to have tried to flag down the truck as they no-

ticed that the driver was driving with only one headlamp, which was not even bright. It was learnt that the driver, in a bid to escape arrest, sped off, but lost the control of the vehicle almost immediately, crashed into pavement and fell on a tricycle.

A resident of Obong Itam, Okokon Ikpe, told our correspondent that the crash occurred about 8:30p.m. on Monday. Ikpe added that the tanker driver, his assistant otherwise called conductor, and two pas-

Drama as publisher demands N160m from Christ Embassy Juliana Francis

mild drama played out yesterday in front of the Global Plus Printing Press, one of the subsidiary companies owned by Christ Embassy Church, at Oregun, Ikeja, Lagos State, as a publisher attempted to demand N160 million compensation from the firm. The publisher, Mr. Boniface Ihiasota, was addressing journalists, when policemen appeared and invited him to their station. Earlier, Ihiasota, who is a client of Global Plus, attempted to address journalists near the

company, but security details kicked against it. Ihiasota initially demanded compensation for alleged breach of contract, which he placed at N12.5 million. But after the matter was taken to the Alausa Police Station, the man came out fuming. He hiked his compensation demand to N160 million. According to the publisher and Chief Executive Officer of Excel Magazine International, circulating in 65 countries, the Christ Embassy Printing Company did not meet up with production deadline, thus leading him to incur financial losses. He alleged that the company, for seven times, couldn’t meet deadline and produced a poor

quality magazine. The man explained that the company initially promised to reprint, but later reneged on the agreement. Ihiasota said that the company had refused to reprint his magazines and also refused to refund him his money. He said he had already presented the matter to the Lagos State Commissioner of Police, Mr. Fatai Owoseni. When policemen invited both parties to Alausa Police Station, it was hoped that the matter would be amicably resolved, but mediation failed. He said: “They messed up my printing. The picture qualities are bad. They did not attempt to treat any of the pictures. They

also failed to meet deadline seven times. I booked and changed flights seven times because of the delay caused by the company. Flight money is never refunded. My wife was supposed to take the magazines to Addis Ababa, but she could not. She had to book flight down to Nigeria, to know what was causing the delay. All these cost us money. The General Manager promised to reprint the magazines and take care of logistics, but now, the company has reneged. The company didn’t meet deadline and that in effect, affected my business.” One of the offers was that the company would print his next edition free of charge. Yesterday, the company said it

abiodun.bello@newtelegraphonline.com 08023938212

sengers in the trapped tricycle died instantly. They were burnt beyond recognition when the tanker exploded into flames. The witness said that the tricycle rider and another man in the truck were taken to the hospital where they were later confirmed dead. He said: “The accident happened around 8:30p.m. We saw the truck as the police were trying to flag it down because it was driving with one headlamp, which was not even bright. The driver did not mind the police as he veered to the right of the policemen for escape. “The police did not chase him; he unnecessarily sped off, thinking that the policemen were coming after him. A few minutes later, we heard a bang. “The tanker crashed into a pavement, killing many and pouring its content.” An indigene of the area who is a student of the University of Uyo, Victoria Inyang, said when she heard the bang, she thought it was a normal vehicle crash. She explained that within seconds, the crash resulted in an inferno. The state Public Relations Officer (PRO) of the Federal Road Safety Commission (FRSC), Mr. Godsgift Uwen, confirmed the incident. Uwen said the accident occurred on Monday about 8:30p.m. at KM 8, Obong Itam, on Uyo-Calabar Highway. According to him, the truck crashed into a pavement, fell on a tricycle and killed four persons on the spot. He said: “The cause of the accident was dangerous driving. It happened about 8:30p.m. on Monday. The truck crashed into a pavement and hit a tricycle. As of yesterday (Monday), six persons, who were all males, had been killed.” was no longer ready to offer any further settlement, asking Ihiasota should get his lawyer. One of the workers, identified simply as Mr. Daniel, said: “On Monday, he tried everything possible to make security people in the company to manhandle him, but I prevailed on them. He scattered our bookshop, broke some items and even attempted to stab one of our workers with a sharp object. We had to wrest the object from him. We have everything on tape. “He said there was error in the printing, but he was the person that caused it. He brought bad pictures and we told him they were bad. We told him that if he wanted us to use the pictures that way, he would have to sign a letter to that affect. He signed.”

METRO

WEDNESDAY, SEPTEMBER 28, 2016 NEW TELEGRAPH

Tears as Lagos dislodges traders Muritala Ayinla

raders and shop owners on the popular CMD Road, near Magodo on the Lagos-Ibadan Expressway wept uncontrollably yesterday as government officials swooped on them with bulldozers. Some of the traders were wailing while others were rolling on the ground as they claimed that government had dislodged them from the source of their livelihood. The traders have dominated the set-back on the CMD Road for many years. Many of them sell building materials while others sell flowers of different species to motorists and residents of Magodo GRA. For almost an hour yesterday, there was confusion among the traders who were rushing to salvage their goods and wares to avoid being demolished by the approaching bulldozers deployed the Enforcement Department of the state Ministry of the Environment. While some were making frantic calls to other traders who were not around, those who were around were appealing to the officials not to destroy their goods.

Mrs Biola Osho weeping

It was learnt that the operation, which was led by the Director of Enforcement and Advocacy, Dr. Tajudeen Afolabi, was meant to clear the areas of shanties and other things considered as environmental nuisance. Government also vowed to seal hotels, event centres and restaurants on the road. According to Afolabi, structures were unlawfully converted to commercial use. He said that on several occasions, government had

sent warnings to the traders who, according to him, illegally turned the road set back to market, to leave the place. The director said the state would clear the LagosIbadan Expressway and the entire stretch of Magodo axis of unauthorised occupants. He said: “The state will not allow anyone to convert the set-back to market place. The set-back must be devoid of any structures

Angry youths butcher ex-councillor Uchenna Inya ABAKALIKI

ngry youths have reportedly murdered a former councillor at Ozziza community in Afikpo North Local Government Area of Ebonyi State, Hon. Monday Agha. Agha was the liaison officer in the state local government system. He was killed when he went to rescue his brother, Okpara Agha, from rampaging youths who came to collect a fine of N2,000 for not participating in

communal labour. A resident of the area, Idam Okoche, told our correspondent that the victim was contacted on the phone by his brother, Okpara to come to his rescue but on arrival, an argument ensued which degenerated into a squabble. He said: “The victim slapped one of the youth with the side of his machete. In reaction, the angry youth overpowered him, took the machete and used it to butcher him. Following the incident, the youth and elders of the area were said to have deserted the

City Briefs

Sexual harassment: Canada sanctions Nigerian doctor Appolonia Adeyemi

Canadian medical tribunal has found a Nigerian doctor, Dr. Adekunle Owolabi, guilty of four professional misconducts and suspended his licence to practise for six months. The decision was given on Monday in St. John’s, at the professional misconduct hearing against the doctor. According to a report on the CBC, the tribunal panel was established by the College of Physicians and Surgeons of Newfoundland and Labrador in Canada. At an earlier hearing, Labrador teacher, Arlene John-

son, testified that when she visited Owolabi for a pelvic examination he made comments that she believed were sexual. She also said that after the test, he hugged her and whispered in her ear: “You have a beautiful c--t, does your husband tell you that?” Another complainant testified that during a pelvic examination, Owolabi asked: “Do you like big ones or small ones?” She said Owolabi made the comments while she was pregnant, undressed from the waist down, and had her feet in stirrups. There were two female secretaries in the room at the time, she said.

community for fear of being arrested. Some of the even fled to neighbouring communities in Cross River State. The state Police Public Relations Officer (PPRO), DSP George Okafor, who confirmed the incident, noted some policemen were dispatched immediately to the area to maintain law and order. According to him, the body of deceased had been recovered and deposited in a morgue for autopsy. He said: “Arrests have been made and those arrested so far have started giving the police useful information that will

and environmental nuisance. They have converted part of the road to cement depot, this is Ibadan Expressway for crying out loud. This is where people see when first entering or going out of Lagos. This is government’s scheme of residential area. The government will landscape the entire stretch and make the site a wholesome environment. “Those buildings that have been turned to event centres and restaurants, we will seal them up. Magodo was not designed for that.” Afolabi said vehicles parked on the set-back must also be removed in an hour’s time as government would tow any vehicle parked indiscriminately on the set-back. Meanwhile, as some the traders confirmed that they had been served notices to vacate the set-back, which they had converted to work places; others denied being warned to quit the place. One of the traders rolling on the ground while begging the officials, Mrs. Biola Osho, who sells cement, said she was not aware of the quit notice sent by government. She said she just bought all her goods on Monday. lead to the apprehension of all the suspects. Peace has been restored to the village and we are monitoring the situation. “Those presently on the run won’t run for long, I can assure you that we are going to get them.”

Ooni appoints new Sooko Laekun oni of Ife, Alayeluwa Laekun of Ile-Ife. The holder of the title is O Oba Adeyeye Ogunwusi, Ojaja II, has approved the coordinator of princes the appointment of Prince Abimbola Adegboyega Ogunwusi as the Sooko

Ogunwusi

Divorce court

‘My husband, an irresponsible figurehead’ A

30-year-old housewife, Balikis Abdullahi, yesterday told an Ilorin Area Court that she married a figurehead and irresponsible man as husband. Balikis, a residence of Alagbado area, Ilorin, made this known when she testified in her divorce proceedings against her husband, Saka. She said: “I want an end to this marriage because I cannot continue with a figurehead and an irresponsible man that left all his responsibility for me. “He has abandoned me and the children for two years without providing for me and my children. No food, no money. He always beats me whenever I ask for our needs.” Balikis, according to the News Agency of Nigeria (NAN), said the marriage was contracted in 2006 and blessed with two children, Lukman and Abdullahi. The petitioner urged the court to dissolve the 10-year-old marriage citing lack of care for and the children. She added that she was no longer in love with Saka anymore. Balikis prayed the court to compel the respondent to pay her N10,000 as monthly upkeep allowance. Saka did not object to his wife’s prayer. The respondent added that he was tired of Balikis’ troublesome behaviour. He also that he could not avoid paying the upkeep allowance, but told the court to order her to pay the children school fees The Area Court judge, Mr. Abdulqudri Ibrahim, adjourned the case till November 2 for continuation.

My wife is dirty, can’t cook –Husband A

IG, Ibrahim

and Ooni’s default representative. The office became vacant with the demise of Prince Dapo Sijuwade. In ancient times, the Sooko Laekun was like the Aremo of Oyo. The new Sooko, an alumnus of the University of Ibadan, is a top businessman with interests in diverse sectors such as property, construction, farming and mining. Sooko Ogunwusi would be installed on October 8 at the Afin Adimula in Ile-Ife at 10a.m.

40-year-old man, Olarewaju Osasonna, yesterday told an Ikole Customary Court, Ekiti, that he could no longer cope with the foul smell from his wife, Kafayat, because of her dirty ways of living. He said: “My wife is very dirty to the extent of packing used baby napkins with faeces for days in the house without washing them and this made everywhere in the house to smell. “Again, she does not know how to cook. She is always cooking tasteless meals and will never take to correction on her dirty habit. “Above all, she does not care for the wellbeing of our two children as a responsible mother should be doing.” Osasonna, according to the News Agency of Nigeria (NAN), further informed the court that his estranged wife was in the habit of cursing him and his family members whenever they had misunderstandings. He, therefore, prayed the court to dissolve the seven-year-old marriage for alleged dirtiness and inability to prepare decent meals. The petitioner also urged the court to award to him custody of the first child and promised to pay N3,000 monthly upkeep for the second child. Kafayat declined to cross-examine her husband and said she would state her own side of the story when she testifies. The President of the court, Mrs. Yemisi Ojo, adjourned the case till October 11 for the testimony of the wife.

NEWS | national

wednesday, september 28, 2016 NEW TELEGRAPH

Supreme Court reserves further hearing in Abia guber tussle Tunde Oyesina ABUJA

he Supreme Court yesterday said it would communicate hearing date on pending suit in the Abia State governorship electoral dispute. The apex court reserved the hearing date in order for parties to file necessary briefs. Trouble had begun when the Federal High Court sitting in Abuja sacked Governor Okezie Ikpeazu over presentation of false tax clearance for his screening, which qualified him to participate in the primary election of the People’s Democratic Party (PDP).

The suit was instituted by another governorship candidate of the party, Dr. Samson Ogah, who came second in the primary election. But not satisfied with the judgement, Ikpeazu approached the Court of Appeal to challenge the decision of the High Court. In its judgement, the appellate court reversed the decision of the High Court and upheld the candidature of Ikpeazu as the standard bearer of the PDP in the last governorship election in the state. Meanwhile, Ogah is now at the apex court to challenge the decision of the Court of Appeal. At the resumed hear-

ing yesterday, Ikpeazu and Ogah opposed the bid by the governorship candidate of the All Progressive Grand Alliance (APGA), Alex Otti to join in the suit. The duo had informed the apex court that an attempt by Otti to be included in the legal tussle would breach the law

since he has no legal right for the request he was demanding before the apex court. Opposing the motion by Otti on the request for a joinder, Governor Ikpeazu through his counsel, Chief Wole Olanipekun (SAN) objected to hearing of the appeal by Otti on the ground that the

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PUBLIC NOTICE CONGREGATION OF SAINT JOSEPH-JOSEPHITES OF MURIALDO

NOTICE IS HEREBY GIVEN that pursuant to sections 673 and 677 of the Companies and Allied Matters Act, 1990, the above body has applied to the Corporate Affairs Commission, Abuja for Registration under Part “C: of the aforementioned Act. The Trustees are: 1. Father Ephrem Badou 2. Father Pini Giuliano 3. Brother Vitalis Ohaekwe

AIMS AND OBJECTIVES ARE: Congregation of Saint Joseph-Josephites of Murialdo has as its main objectives, inter alia, imparting of religious, moral, educational social and cultural values in the poor, less privileged, socially-uprooted, abandoned youth, sick youths and young persons in the society in accordance with the doctrine and teaching of the Catholic church. 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: Chinwa Ekwowusi Esq., SONNIE EKWOWUSI & CO

Solicitors, Advocates, Maritime & Notaries Public 24, Bishop Crowther Street, Surulere, Lagos

substantive matter and that since Otti was not in the substantive matter, he has no right of appeal to be joined in the matter again. The Counsel argued that no order was made against him (Otti) and as such, had no business to seek to dabble into the matter.

Court adjourns Nyame’s N1.64bn fraud trial till today

he High Court sitting in Abuja yesterday adjourned the trial of former governor of Taraba State, Reverend Jolly Nyame, till today. Justice Adebukola Banjoko adjourned the matter to enable the defence react to the addi-

tional proof of evidence filed by Rotimi Jacobs (SAN), Counsel to the Economic and Financial Crimes Commission (EFCC). Banjoko told both counsel that she was not going to give room for any further adjourn-

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PUBLIC NOTICE

OYO NEXUS CLUB

This is to inform the general public that the above named Club has applied to the Corporate Affairs Commission (CAC), Abuja for registration under Part 'C' of the Companies and Allied Matters Act, 1990. The Trustees are: 1. Mr Salawu Kabir 2. Dr. Oladeji Afolabi 3. Mr Ademola Hizain 4. Dr. O.K. Agunloye 5. Mr. Nurudeen Muhydeen 6. Barr. Idowu Oyeleke AIMS AND OBJECTIVES ARE: 1. To increase participation to community and national development. 2. To provide support for social and economic innovation. 3. To promote mutual cooperation amongst different groups in the community. 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: ADEBAYO AWOLUSI ESQ.

ments, adding that the trial would continue by the day. The defence counsel, Hassan Fajimite told the court that the prosecution served them with the document on Monday and that he needed time to study and respond to it accordingly. “It is because they defaulted in serving us on time and we could not take this case today. We are entitled to study the document and try to analyse it with our witness,”

Fajimite said. Jacobs, who could not field the 11th witness, told the News Agency of Nigeria (NAN) that the witness he came to court with was a substitute witness, as the main witness had retired and could not be traced. “You know this case is 10 years old and Taraba State Government said they could not trace him, and so, we had to come to court today with a substitute witness,” the EFCC counsel said

Inconclusive elections: Senate asks Buhari to fill vacant positions in INEC Chukwu David Abuja

he Senate yesterday urged President Muhammadu Buhari to immediately nominate suitably qualified persons to fill vacant positions at the Independent National Electoral Commission (INEC), in line with the constitution to enhance the capacity of the electoral body to carry out its functions more effectively. The Senate also directed INEC to immediately conclude all pending rerun elections in the country, so that Nigerians who are currently not represented in the National Assembly would have a sense of belonging. The Upper Chamber made these resolutions, following a motion cosponsored by the Deputy President of the Senate, Ike Ekweremadu and the

Leader of the Senate, Ali Ndume, entitled, 'Inconclusive elections'. Leading the debate on the motion, Ekweremadu expressed concern that at least 20 states of the federation had no Resident Electoral Commissioners (RECs), contrary to Section 14(2) of the Third Schedule of the 1999 Constitution as amended. Consequently, he warned that if nothing was done to reposition the commission, INEC might not conduct a free and fair election in 2019, noting that the electoral umpire's record in the present administration had left much to be desired Ekweremadu further revealed that most of postponements of elections by INEC were at the whims and caprices of some politicians, saying that such situation did not portray the commission as a responsible institution.

PUBLIC NOTICE

EBAREWANLU SOCIAL CLUB OF ESAN LAND

The general public is hereby notified that the above named has applied to the Corporate Affairs Commission for registration under Part “C” of the Companies and Allied Matters Act, 2004. The Trustees are: 1. Abel Oliha 2. Owubu Alex 3. Jerome Osemhen Godfrey 4. Uwaifoh James 5. Onomhante Joseph Iloyano AIM AND OBJECTIVE ARE: 1. 1. To maintain peace, unity and mutual understanding among our 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

WEDNESDAY, SEPTEMBER 28, 2016 NEW TELEGRAPH

Edo Factors that'll shape election

Politics

Godfathers, gladiators spoil for war

Showdown in Edo Akoko-Edo Etsako East

Owan East Etsako Cen tral Etsako West

Ovia North-East

he build-up to today’s governorship election had not been a tea party. From subtle moves to alignment and re-alignment of politicians who where hitherto in opposing camps, the intrigues became more fierce after the primaries of the various political parties that produced the 19 candidates in the contest. While the vast number of candidates is expected to make the contest interesting, there is no doubt that only a few are contenders, while others are mere pretenders, who are in the race to make up the number. It is against this backdrop that many insist that that the poll is a two-horse race between the ruling All Progressives Congress (APC) and Peoples Democratic Party (PDP). Head to head, both parties have what it takes to carry the day. Both have held sway in the “Heartbeat State” at various times – PDP for 10 years (1999 to 2009) and APC for eight years (2009 to date) – but politics, being a game of the possible, the likelihood of one of the “lesser parties” pulling a surprise cannot be dismissed. Nineteen candidates are contesting the election and they are Godwin Obaseki (APC); Osagie Ize-Iyamu (PDP); Ishaka Ofemile, Action Alliance (AA); Amos Aroloegbe, Labour Party (LP); Richard Oronsaye, Mega Progressive

FELIX NWANERI

GROUP PoLITICAL EDITOR nwanerif@newtelegraphonline.com

Ovia South-West

Uhunmwonde

ral

Esan North East Cen t

Esan W est

Owan West

Esa n

After months of political intrigues, the people of Edo State head to the poll today to elect a successor to Governor Adams Oshiomhole in what promises to be a hot contest given the vast number of candidates who are in the race. FELIX NWANERI reports

Edo

Esan South-East

Iguegben

Egor Orodo Ikpoba-Okha Orhiormwon

Peoples Party (MPPP); Andrew Igwmoh, Advanced Congress of Democrats (ACD); Cosmas Irabor, Allied Congress Party of Nigeria (ACPN); Onaiwu Osaro, All Progressives Grand Alliance (APGA), David Okoror, Citizens Popular Party (CPP) and Tobi Adeniyi, Independent Democrats (ID). Others are Thompson Osadolor, KOWA Party (KP), Peter Omoragbon, National Conscience Party (NCP); Akhalamhe Amiemenoghena for People for Democratic Change (PDC); Thomas Sadoh, Progressive Peoples Alliance (PPA); Mrs. Ebun Agol, Peoples Party of Nigeria (PPN); Omorogieva Gbajumo, Social Democratic Party (SDP); Shadrach Efogie, United Progressive Party (UPP) and Nurudeen Inwanefero, Young People Democratic Party (YDP). The Independent National Electoral Commission (INEC) said it has deployed 18,511 electoral officials for the exercise in the 18 local government areas with a total of 1,925,105 registered voters; 192 registration areas; 2,627 polling units; and 4,011 voting points. Majority of the personnel for the poll, according to the commission, were drawn from “the pool of young Nigerians on national assignment through the National Youths Service Corps Scheme.” The poll was earlier scheduled for September 10, but was shifted less than 24 hours to the exercise by 18 days over security issues.

Edo DECIDES

The Nigeria Police and Department of State Services (DSS) had advised the electoral umpire to postpone the poll on the ground of what they described as credible intelligence at their disposal, which suggests that insurgents are planning to attack vulnerable communities and soft targets, but INEC insisted that it would go on with the election as scheduled in all the 192 wards and 18 local government areas of the state. The commission later made detour when its National Commissioner, Voter Education and Publicity, Prince Solomon Soyebi, said the election had to be postponed because of concerns expressed by the security agencies. Today’s poll has been dubbed “mother of all battles” by some analysts given what the two contending parties have thrown into it. Besides determining who takes over the Dennis Osadebey Avenue Edo State Government House from Governor Adams Oshiomhole, whose tenure would elapse in November, it serves as another test of might between APC and PDP. Many had earlier argued that FACT SHEET

Registered Voters

1,925,105

No of Candidates

Deployed Staff by INEC

18,511

No of LGs

No of Polling Units

2,627

Security Personnel Deployed

49,000

12 14

it would be an exclusive preserve of the APC given the party’s dominance of Edo politics since 1999 that it sacked the PDP-led government in the state through the court, but the outcome of the 2015 general elections, not only boosted the confidence of the later but altered the political calculation as well. To the consternation of many, the PDP won two of the state’s three senatorial seats and five House of Representative seats, leaving the remaining three for the APC. The ruling party’s consolation was its majority seats in the state Assembly poll. But events of 2015 are now history and any of the parties still banking on the past would be attempting a political suicide. Political equation has changed at the centre and there have been alignment and realignment of political forces across board. These inform why both parties have not left anything to chance going into today’s election as it rekindles the supremacy battle between them after the November and December 2015 Kogi and Bayelsa states governorship elections. Both parties had shared the spoils in both states – APC winning Kogi and PDP retaining oil-rich Bayelsa. So, whichever the pendulum swings in Edo State today will further strengthen the confidence of the two parties as they begin preparations for the 2019 general elections. Besides determining a new helmsman for Edo State and rekindling the supremacy battle between APC and PDP, today’s poll also serves as a litmus test for the INEC. The commission has since the inception of the Prof. Mahmood Yakubu-led management been hit by the bug of inclusive elections. The governorship polls in Kogi and Bayelsa states, respectively, which were the first test for the new INEC chairman and his team, not only ended on inconclusive notes but were characterised by poor logistics. The subsequent rerun elections in Rivers, Osun and Imo states as the Federal Capital Territory council poll ended on similar notes. The spate of inconclusive elections raised concern among stakeholders but the INEC chairman allayed any fear, explaining that the development is a reflection of how competitive the country’s elections have turned out to be. No doubt, the cases of inconclusive polls cast some doubt on the competence of the IINEC leadership but today’s exercise affords the commission an opportunity to win back the peoples’ confidence in the electoral process.

POLITICS

For the Edo State governorship election, a number of agitating options are available for consideration by the 19 participating political parties and their candidates in their quest to be the next occupier of the Dennis Osadebay Avenue Government House, Benin. Cajetan Mmuta reports

t is clear that the tenure of Comrade Adams Oshiomhole as governor of Edo State would be over by November 22 after eight years in the saddle but what stands as a poser at the moment is; who amongst the 19 candidates of the parties listed by the Independent National Electoral Commission (INEC) for the governorship tussle has what it takes to replace him and the chances available for such personality. While it is hoped that today’s election will resolve the puzzle, there is no doubt that all the contending parties and even pretenders are no strangers to past and present events in governance of the state since its creation in August, 1991. Therefore, as the people decides on who they will hand over the treasury and destiny of their state to today, they are not in a hurry to forget amid reflections on which government among the few that have presided over the affairs of the collective patrimony of the “Heartbeat State,” wiped out tears off the eyes and brought smiles to the greatest number of an estimated four million people in the state. Performance Edo State had witnessed dramatic and unstable changes in government presided over by individuals from different political groupings and ethnic divides since the tenure of Chief John Odigie-Oyegun (1991 to 1993). While Odigie-Oyegun, who is now the National Chairman of All Progressives Congress (APC), had his tenure punctured by the military, his brief stint in office had some sort of human face with established public service and Edo Municipal Transport Service which later became Edo Line as some of his achievements. Before Odigie-Oyegun were Prof Ambrose Alli and Dr Samuel Ogbemudia, who held sway during the Second Republic when the state was then Bendel State. In the present dispensation (Fourth Republic) had been Chief Lucky Igbinedion, Prof. Oserheimen Osunbor and the incumbent, Adams Oshiomole. Aside the brief tenures enjoyed by others, the eight years of Igbinedion would have recorded tremendous achievements in various sectors as it came when there

WEDNESDAY, SEPTEMBER 28, 2016 NEW TELEGRAPH

Factors that'll shape election

Entrance to Edo State Government House, Benin City

was oil boom but many still see the era as the locust years. Governor Oshiomhole came on board when it was obvious for a change of guard due to festering crises within the ranks of the Peoples Democratic Party (PDP). The labour leaders turned politician met a totally devastated state with collapsed civil service, empty treasury and decayed infrastructure. For the first four years, the Action Congress (AC) and later Action Congress of Nigeria (ACN) and now APC, engaged in the process of cleaning the Augean table of maladministration and neglect. Eight years after, the evidence and testimonies are better imagined than expressed in words almost all facets across the three senatorial districts of the state. The Oshiomhole government, no doubt, has been able to prove critics and opposition groups wrong and that what was thought impossible is now real and can be felt and seen too. Today, these are the driving force and pride of the ruling APC in Edo State. Belonging to mainstream politics It was evident that Edo State lost a great deal of favour from the centre (federal government) when ex-President Goodluck Jonathan held sway as the nation’s president. While the state government suffered mounting opposition and resistance from the PDP at the home front on policy issues, the state was no better with gross denials of ecological funds to tackle the defacing menace of gully erosion. The ugly scenario compelled the government to go into borrowing to deal with political issues and man-made brick walls before it could take off smoothly. It holds therefore that belonging to the mainstream national politics has obvious advantage to boost the growth and development of the state. Edo State is favourably disposed to the present political calculations. Chief Odigie-Oyegun, the national chairman of the ruling APC at both the state and federal levels, is from Edo state and with President Muhammadu Buhari under the ruling party, it is

Edo DECIDES

clear that the state stands to benefit more both in appointments into juicy positions and projects. Analysts say that anything in the contrary that paves way for the opposition to emerge will be disastrous for the state and its people for another eight years. Besides, the PDP and APC forces have been on each other’s neck over plot to grab the state to each other’s side. The ruling APC joined by hordes of forces to Oshiomhole’s masterstroke will not allow the shadow of PDP’s incursion to make a far scratch from the poll.

Haram sect which at time crippled the economy while thousands of lives were lost and property worth several billions of naira got into the drain. The Buhari government therefore is fighting a grueling war in several directions with possible divided attention. This has obvious stirred undue social, economic, religious and cultural dislocations and loss of confidence in the government amongst the populace. Added to these are the crippling effects of renewed militancy in the oil-rich Niger Delta region.

Credibility/pedigree of candidates Government and governance are not for the unprepared. It holds therefore that any man stepping into the big shoes to be left behind by Oshiomhole must be a man who has the drive, focus, selfless, will, foresight, courage, , ideas and resilience to put the state on its feet. Above all, such personality must be educated with management skills in handling and dispensing resources to earn public trust. He must also have the grip of the intricacies of government and governance. Oshiomhole, no doubt, did all he achieved to save his name, position as former president of Nigeria’s workforce – Nigeria Labour Congress (NLC) and therefore must not be seen to fail in that for which he had confronted many governments in the past.

Manifesto The APC has unfolded master plan to develop the state which its candidate Mr. Godwin Obaseki is to anchor if elected. The PDP, on its part unveiled the Simple Agenda while other candidates in like manner have rolled out theirs. At the center of all the messages whether real or imaginary are the people and the state. How much the content of the manifesto will go at meeting the great needs of Edo people is one puzzle both the poor and rich will provide the answer. Meanwhile, it is on record that some of the candidates have organizations or individuals that bankrolled the campaigns and they are likely to be on the throat of the new government for such huge debt.

Economic Recession There is, no doubt, that the ruling APC-led Federal Government inherited a distressed economy from the PDP. With over year in the saddle, Buhari government seems to be wobbling and groping in the dark about what to do to get the nation out of the woods. While the cabinet team battles to wriggle the administration and economy out of the woods, it not in dispute too that a lot of funds were frittered away by good number of individuals entrusted with various positions during the last government. Most worrisome too, is the security threat posed by the Boko

The voting pattern The electorate are expected to vote not only along party lines but also interest in the candidates and how much they have been affected by the past and present governments in the distribution of resources of the state within the periods they were in power. Interestingly, Edo South has seven local government areas and the largest in number; North has six while Central has five council areas. On paper, the APC is in charge of the north, while the PDP holds forth in the central. The south, where the two contenders – Obaseki and Ize-Iyamu hail from, is therefore the battle ground for the candidates.

WEDNESDAY, SEPTEMBER 28, 2016 NEW TELEGRAPH

TEMITOPE OGUNBANKE profiles the candidates for tomorrow’s governorship election in Edo State

Godwin Obaseki (APC) The governorship candidate of the All Progressives Congress (APC) was born 59 years ago to the famous Obaseki family in Benin City. He had his early education in St. Matthews Anglican Primary School, Benin City and proceeded to Eghosa Anglican Grammar School, also in Benin City for his secondary education. He obtained a BA in Classics from the University of Ibadan. Obaseki, who also attended the Columbia University and Pace University in New York, has an MBA in Finance and International Business. His career spans both the private and public sectors with interests in investment banking, asset management, securities trading. He started his career as a stockbroker in 1983 with Capital Trust Brokers Limited in Lagos and subsequently worked with International Merchant Bank (an affiliate of First Chicago Bank). He also worked in United States as a principal of Equatorial Finance Co, a Financial Advisory firm with a focus on Africa between 1993 and 1995. Obaseki founded Afrinvest West Africa Limited (formerly Securities Transactions & Trust Company Limited (SecTrust)) in 1995. A Fellow of the Chartered Institute of Stock Brokers and an alumnus of the Lagos Business School Chief Executive Program, he was appointed Chairman of the Edo State Economic and Strategy Team (EST) in 2009, a position he resigned from to contest the governorship election. Obaseki’s running mate, Hon. Philip Shaibu is an indigene of Etsako West Local Government Area of the state. He was born on December 1, 1969 and is a member of the House of Representatives, representing Etsako East/West/ Central Federal Constituency of Edo State. He was a former President of the National Association of the Nigeria Students (NANS) and former Majority Leader of Edo State House of Assembly. Osagie Ize-Iyamu (PDP) The governorship candidate of the Peoples Democratic Party (PDP), Pastor Ize-Iyamu, was born in Benin City to the family of late Esogban of Benin, Chief Robert Osayande Ize-Iyamu on June 21, 1962. He attended St. Joseph Primary School and Ebenezer Nursery and Primary School in Benin City and had his secondary education at the state premier secondary school, Edo College. He graduated from the University of Benin with an LLB (Hons) and proceeded to the Nigerian Law School, Lagos where he bagged the Bachelor of Law (BL). Ize-Iyamu has held key public and party positions since the country’s return to democratic rule in 1999. He served as Chief of Staff and later Secretary to the Edo State Government during the Lucky Igbinedion admin-

POLITICS

19 candidates, one crown

Obaseki

Omoragbon

Ize-Iyamu

Frank

Osadolor

Party (PDP) Governors Forum. Onaiwu is contesting the election with 48-year old Okpebholo Oyemen Gladys as running mate.

istration. He was also one-time National Vice Chairman (SouthSouth) of the defunct Action Congress of Nigeria (ACN) and Director-General of Governor Adams Oshiomhole’s second term campaign organisation. He was also the coordinator of Goodluck/Sambo Campaign Organisation. His running mate, John Ehibhatoman Yakubu, is former chairman of Esan-North Local Government Area. Pastor Peters Omoragbon (NCP) The 54-year old candidate of the National Conscience Party (NCP) qualified as a nurse in 1983. He served as a Nursing Officer at the Psychiatric Hospital, Yaba, Lagos and Senior Nurse with the First Consultants Medical Center, Obalende in Lagos. He is a seasoned public servant, philanthropist, politician and human rights activist. Omoragbon’s running mate is 39-year old Ahmed Haruna. Andrew Igwemoh (ACD) Fifty-four year old Andrew Igwemoh is the candidate of Advanced Congress of Democrats (ACD). This is not the first time he is taking a shot at the number one seat in Edo State. He was the Labour Party candidate during the 2012 governorship poll in the state. Igwemoh’s running mate is 42-year old Osagie Eghairevbra Andrew. Osaze Osaro Onaiwu (APGA) Onaiwu, born on December 23, 1958, is the candidate of All Progressive Grand Alliance (APGA). The businessman turned politician was a former Director-General of the Peoples Democratic

Onaiwu

Tracy Ebun Agol (PPN) Hon. Agol, born on January 1, 1969 is the governorship candidate of the Peoples Party of Nigeria (PPN). She was one of the PPN House of Assembly candidates in Edo State during last year general elections. Her running mate is 35-year old Osayomore Clement Osazee.

Edo DECIDES

Thompson Osadolor (KOWA) Osadolor, a 59-year old lawyer and businessman is the flag bearer of the KOWA Party. He holds a Masters Degree in law from the United Kingdom and has been in business in Benin, the Edo State capital for decades even though he had lived in the United Kingdom for about 26 years. Amos Osalumese Areloegbe (LP) Forty-eight years old Pastor Amos Areloegbe is the gubernatorial candidate of Labour Party (LP). A Chattered Accountant, Areloegbe says he has a divine mandate from God to lead Edo people. He is contesting the gubernatorial poll with 35-year old Florence Adaehomen Okundaye as his running mate. Ukonga Frank Onaivi (NNPP) Prince Frank Ukonga is the gubernatorial candidate of New Nigeria Peoples Party (NNPP). The 56 year-old is a former chairman of the Edo State chapter of his party. He contested for Edo State governorship seat during the 2012 election on the platform of the Social Democratic Mega

Areloegbe

Party (SDMP). His running mate is 38-year old Emodogo Dorcas Eweha. Omoregiewa Gbajumo (SDP) The governorship candidate of the Social Democratic Party (SDP) is a former chairman of Oredo Local Government Area of Edo State. The running mate to the 55year SDP governorship candidate is 68-year old Isaac Ogona. Ishaka Paul Ofemile (AA) Fifty-seven year old Comrade Ishaka Paul Ofemile is the governorship candidate of Action Alliance (AA). He was the AA vice presidential candidate during last year’s general elections. His running mate is 37-year old Ewemade Nancy Osagie. Others Other governorship candidates and running mates in tomorrow election are; Cosmos Irabor and Fredrick Parker Odegua (Allied Congress Party of Nigeria, ACPN); David Ewanlen Okoror and Ekhorotomwen Smile Uyi (Citizens Popular Party, CPP); Tobi Adeniyi and Ibolo Julius (Independent Democrat, ID); Oronsaye Richard and Omijie Ehinor (Mega Progressive Peoples Party (MPPP); Akhalamhe Amiemenoghena and Aiyanyor Efosa Osarobo (People for Democratic Change, PDC); Thomas Amanesi Sadoh and Onaiwu Ogbeide (Peoples Progressive Alliance, PPA); Shadrach Nowamagbe Efogie and his Okosun Davies Roseline (United Progressive Party, UPP), and Nurudeen Inwanefero and Dakpokpo Georgina (Young Democratic Party, YDP).

POLITICS

WEDNESDAY, SEPTEMBER 28, 2016 NEW TELEGRAPH

Godfathers, gladiators spoil for war The gladiators and godfathers in Edo State politics are back to the trenches for today’s governorship election in the state. In this report, WALE ELEGBEDE chronicles the power brokers in the election and how they are rallying their troops for the epic battle

ost often than not, an upstart in an enterprise or venture usually needs the help of a guardian figure, who in most cases has seen it all-experience, contacts and mobilisation wise, to give relevant support and direction. An example of such venture is politics. This desire for tutelage and support, perhaps, is responsible for the emergence of godfatherism. Although, the concept of godfatherism became more pronounced in the contemporary Nigerian politics upon the advent of the Fourth Republic in 1999, it is however believed in some quarters that its influence has whittle down 16 years after. Back tracking to 1999, such names as Chris Uba in Anambra, late Lamidi Adedibu in Ibadan, Oyo State; late Olusola Saraki in Kwara, among others, resonates as godfathers who handpicked their godsons for political positions. While it could be said that the activities of godfathers and their intimidating postures to their godsons are getting modified with time, partly to the upgrade in the country’s democracy, the influence of the godfathers are being redefined but their presence in political flow is still active. Today’s governorship election in Edo State is no exception as it has been tagged as a battle to settle scores between the gladiators in the two dominant parties and their candidates-Mr. Godwin Obaseki of the All Progressives Congress (APC) and Pastor Osagie IzeIyamu of the Peoples Democratic Party (PDP). The outcome of today’s election is a big test for the bravery and influence of the various power blocs, but the road leading to Osadebey Avenue in 2016, may not be the end in their tussle for ascendancy in the politics of the Big Heart state. Notable among the gladiators moving against themselves today are the state governor, Adams Oshiomhole; the Esama of Benin Kingdom, Chief Gabriel Igbinedion; former chairman of the PDP’s Board of Trustees (BoT), Chief Tony Anenih; former military Governor of Mid-West State, Dr. Samuel Ogbemudia; former governor Lucky Igbinedion, the Benin Kingdom, among others. Adams Oshiomhole: Prior to the coming of Governor Adams Oshiomhole to public office in 2008 through a judicial

Oshiomhole

Anenih

Gabriel Igbinedion

In 1970, he was elected shop steward and this launched his career in trade unionism. He was at various times general secretary of the National Union of Textile and Garment Workers Union, as well as deputy president of the NLC. He came to the limelight in 1999 when he was elected the NLC president.

Ogbemudia

pronouncement that sent the candidate of the PDP, who was in the saddle of the leadership of the state for 18 months, Prof. Oserheimen Osunbor packing, the virile former president of the Nigeria Labour Congress (NLC), was a popular currency among many Nigerians especially the masses who see him as one of them on account of his activism. Upon ascension of office, the Comrade Governor, as he is popular addressed, moved to decapitate the various power blocs and godfathers in the state, though unverified reports said his 2007 election was bankrolled by one of the power blocs he sought to bring down- the Igbinedions. It was also reported at the time that his decision to challenge the outcome of Osunbor’s election received a tacit support from Chief Tony Anenih, who was said to be opposed to the emergence of the Professor of Law as the candidate of his party, the PDP. From then, the relationship between the governor and the power-blocs in the state deteriorate and the cat and mouse relationship became a full blown battle in the wake of his (Oshiomhole) re-election in 2012. Interestingly, regardless of the massive opposition against him by the PDP powerbloc, he got his second term back to the Osadebey Avenue Government House with a massive 73.7 per cent win under the defunct Action Con-

Lucky Igbinedion

Edo DECIDES

gress of Nigeria (ACN). Perhaps, his lowest point in politics was at the 2015 general elections where under his nose, the PDP won the presidential election in the state, won two senatorial seats and also secured five House of Representatives slots, despite his pre-election boasts that former president Goodluck Jonathan would not win more than 10 per cent votes. Under eight years as governor, Oshiomhole has developed a formidable political skill that has made him a powerful bloc in Edo politics. He singlehandedly produced his party’s candidate in today’s election and not even the onslaught from his own deputy, Pius Odubu, against Obaseki could derail his plans. This made some to label him the new godfather in Edo politics. Already, the governor has been in a war of words with Igbinedion and Anenih over today’s election, it’s only left to been seen who will take the day in a clash that has been dubbed to be too close to call by some analysts. Born on April 4, 1953, Oshiomhole had his primary education in his village, Iyamoh in the Northern part of Edo State. He later left Iyamoh for Kaduna with the desire to study architecture but could not do so due to lack of funds. He, therefore, decided to look for employment and secured a job as a factory worker at the Arewa Textile Mill, Kaduna.

Tony Anenih: At 83, the acclaimed “Mr. Fix It” of PDP politics, is for the first time fighting a political battle as an opposition in both state and national level. Anenih, a former minister of Works and the Iyasele of Esanland is for the second time in four years going head to head with Oshiomhole, after he was defalted in 2012 by the governor nd his party. No doubt, he is already in the twilight of his chequered political career, there is no doubt that today’s election will be a deciding factor for the renowned political strategist. Expectedly, the frontline politician from Uromi is believed to have the Edo Central senatorial district in his grip, it is anticipated that his candidate, Ize-Iyamu, will enjoy a coaster ride in the area. Clearly, it might not be a rosy ride for Anenih and his godson, but his ingenuity that made him dominated the political firmament for years must be brought to bear today. Chief Gabriel Igbinedion: For 82-year-old Esama of Benin Kingdom, his influence in the politics of his state must not only heard but seen. After his son, Lucky, ran the affairs of the state for eight years, his alleged relationship with Oshiomhole turned sour and regardless of the efforts to reconcile the duo, they could only be relating on the pages of the newspapers. Aside politics, the Benin chief, whose Esama titled traditionally means the "godfather of the people", with responsibilities including assisting the poor in medial, monetary and private venture forms, also has his business concerns to mind; hence his choice of support will be who to protect his economic interest. Apart from Lucky, another of CONTINUED ON PAGE 15

POLITICS

WEDNESDAY, SEPTEMBER 28, 2016 NEW TELEGRAPH

Obaseki being endorsed by the Edo North traditional rullers

Ize-Iyamu addressing Esan monarchs after his endorsement.

Royalty in murky waters of politics Traditional institution remains a driving force for the masses, but the gale of endorsements by traditional rulers for the respective candidates in the Edo governorship poll re-echoed the contentious issue of involvement of monarchs in politics. FELIX NWANERI reports

he power-play that characterised the governorship election in Edo State forced some political and leaders across the state to return to the game they know how to play best - politics of opportunism with the gale of endorsements of candidates of the various political parties in the contest. While many reasoned that the endorsements, particularly the candidates of the leading parties

– Mr. Godwin Obaseki of the ruling All Progressives Congress (APC) and Pastor Osagie Ize-Iyamu of the Peoples Democratic Party (PDP) was not unexpected of the political leaders given that such is their stock in trade, a worrying dimension emerged when traditional leaders joined the fray. While endorsement is part of politics as individuals are entitled to express support for candidates of their choice, the monarchs took theirs to a height that portrayed them as scrambling to outdo each other. Consequently, the respective endorsements were enmeshed in controversies and caused a friction in the ranks of the royal fathers. The division in the ranks of the monarchs over the endorsements manifested when shortly after the endorsement of the PDP candidate by traditional rulers in Esan land at the palace of the Ojuromi of Uromi, HRM Anslem Eidenojie, the Vice Chairman, Edo Traditional Council and the Onojie of Opoji, HRH Ehidiamen Aidonojie 1, came out and dissociated himself and other traditional rulers in Edo Central from the backing. The Esan monarchs, who hinged their endorsement of IzeIyamu on what they described

C O N T I N U E D F R O M PA G E 1 4

his children, Charles, was a Local Government Chairman and one time Edo State Commissioner of Education, while yet another, Peter, was the Managing Director of Nigerian Aviation Authority. Esama's daughter, Omosede is currently in the House of Representatives representing Ovia South/West-Ovia North/ East constituency. Samuel Ogbemudia: At the celebration of his 84th birthday in Benin last week, Ogbemudia, a former military Governor of the Mid-West State, which was later renamed Bendel State, part of which in turn became the Edo State of today, publicly endorsed Obaseki to become the next governor of the state. Interestingly, Ogbemudia has seen both part of the divide. At the advent of democracy in 1999, Ogbemudia was one of the founders of PDP in Edo state, and a member of the party's Board of Trustees. Alongside Anenih, they both controlled PDP politics in the state for a while before they later had open conflict. Lucky Igbinedion When Ize-Iyamu emerged as the candidate of the PDP, not a few believe that

Edo DECIDES

as “sustained marginalisation of Esan land and her people,” appealed to the PDP candidate to correct the inequitable distribution of dividends of democracy in the state on assumption of office. The also directed their subjects to vote for the opposition party. The Ojuromi of Uromi, who spoke on behalf of his colleagues, said: “We know you (Ize-Iyamu) very well. You are a man, who has direct relationship with virtually all the Enigie (traditional rulers) in Esan land. You are a son of the former Esogban of Benin Kingdom. You are a son of tradition. Your father served in the palace without blemish. He did not betray the palace. “We the Enigie in Esan land believe that if we give you our support, you will not betray us. We want to say that Esan nation is part and parcel of this state. We know how much we have been relegated in our own state, and we are very unhappy about it.” But the Onojie of Opoji, HRH Aidonojie 1, who dismissed the endorsement, said: “We were invited to come and listen to what the PDP said it had for us and not endorsement. Besides, I stated at that occasion that Esan people are like

the Jews surrounded by Arabs. I told the PDP people that it is action that speaks, that how are we sure that what they are preaching now is better is better than what APC has done for us. “The problem Esan people are having today was caused by Chief Tony Anenih because he never empowered Esan people. And it is not true that PDP empowered Esan people, it is only Uromi. So, there was nothing like any endorsement.” A twist was however added to matter when the Onojie of Uromi, HRH Zaiki Anslem Ogbidi Okojie, made a startling revelation of how traditional rulers from Esan nation shared about N6 million, he claimed was made available to them by the PDP governorship candidate and a former chairman of the party’s Board of Trustees (BoT), Chief Tony Anenih. He declared that the people of the area have collectively resolved to back Obaseki for the top job, so that he can continue the developmental projects of the Adams Oshiomhole-led administration, adding that though Chief Anenih who is a leader of the PDP is from CONTINUED ON PAGE 18

Godfathers, gladiators spoil for war his emergence would push out Lucky Igbinedion, a former two-term governor of the state, from his political sabbatical. However, the expected public support for Ize-Iyamu from the former governor did not come until two weeks back at his father’s 82nd birthday, where he spoke about his support for his longtime associate, announcing that the next governor of the state will come from his political family. No doubt, Ize-Iyamu has been a longtime ally of the Igbinedion’s. The PDP candidate in today’s election was Lucky’s personal assistant when the latter was the Chairman of Oredo Local Government Council. Also, when Igbinedion became governor in 1999, Ize-Iyamu was appointed Chief of Staff and later became the Secretary to the State Government. He told newsmen at the birthday celebration that, “INEC can postpone the election, but they cannot cancel it. I can assure you the result will remain the same. I made it clear that the next governor will come from our political family. That has been my prayer. Come September 28, the margin of victory will be higher than if the election had held on

September 10. “Edo people should vote wisely. Be rest assured that the insults that has taken place since 2008 will stop. The brutalization of our psyche, of our women will stop. Unemployment of our youths will be a thing of the past,” he said. Benin Palace: With both candidates coming from the great Benin Kingdom, the Benin palace and its chiefs appear divided over whom to pitch their tents with between Obaseki and Ize-Iyamu. Recently, some palace chiefs, under the aegis of Nedoghama Nedo, belonging to the Egha Evbo’ Nore (town chiefs) in the palace, have reportedly endorsed the candidate of the PDP, Ize-Iyamu. They chiefs took the decision to back the PDP candidate at the residence of the Esama of Benin Kingdom, Chief Igbinedion. Speaking on behalf of the chiefs during the endorsement, the Eson of Benin Kingdom, Chief Amos Osunbor, said IzeIyamu should be supported because his father, late Chief R.O. Ize-Iyamu, who was

the Esogban of Benin, was a notable member of the Egha Evbo’ Nore palace society. Among the chiefs present were the Eson of Benin Kingdom, Chief Amos Osunbor; the Odobaiwu of Benin, Chief Douglas Usoh; the Uwayoba of Benin, Chief Solomon Ogbewe and Chief Jackson Igbinovia Amure among others. However, another group of palace chiefs, led by the Obazelu of Benin, Chief Osaro Idah, condemned the action, which he described as laughable and warned those involved not to drag the palace into partisan politics. The Obazelu, who is also the state Secretary of the APC, explained that if the palace must speak on any issue, it does so through the Iyase of Benin or the Esogban of Benin, alleging that the said endorsement came from card-carrying members of the PDP He therefore noted that the said chiefs spoke for themselves, rather than the entire chiefs in the palace of the Oba of Benin Kingdom. No doubt, the influence of the Benin kingdom will count as a formidable support for either of the two candidates.

WEDNESDAY, SEPTEMBER 28, 2016 NEW TELEGRAPH

Opinion

Elections and the hurdle of attitudes TREASURES BOLA BOLAWOLE turnpot@gmail.com 0807-552-5533 (sms only)

wo critical elections confront the Independent National Electoral Commission (INEC), whose chairman, Prof. Mahmood Yakubu, has been under fire for under-performing since he took over from Prof. Attahiru Jega, who is generally seen to have performed above average; the new INEC boss has chalked up a lot of embarrassing inconclusive elections. Although he has stoutly defended his own records – who will not? – saying more conclusive than inconclusive elections had taken place under his watch, the postponement of the Edo governorship election, which now comes up today, has not helped matters for him. The fact that the postponement was instigated by security forces, exactly as they did last year to help ex-President Goodluck Jonathan postpone a presidential election he was sure to lose, has raised apprehension that monkey games were being played with the Edo election by the government-in-power. We wait with baited breath to see whether the election will go well today. It is important that voters are allowed to decide, for it is only then that leaders can be held answerable to the people. Votes must count for the dividend of democracy to stand a chance of being delivered to the people. Leaders will this way also be restrained from playing god. Otherwise, we invite anarchy! The All Progressives Congress controls the levers of power in Edo State as well as at the Federal level while the Peoples Democratic Party, once the ruling party, is the leading opposition party. Will APC abuse their privileged position or build upon the successes of the Yar’Adua and Jonathan Federal admin-

istrations which allowed the will of the people prevail, even when it ran against their grain? In November, another governorship election is due in Ondo State; as in Edo, the two leading parties are APC and PDP. PDP’s Gov. Olusegun Mimiko has imposed one of his erstwhile Commissioners, Eyitayo Jegede, in a farcical party primary, as the PDP flag bearer. Whereas the APC primary is to be preferred to the PDP’s in its openness, transparency, inclusiveness and respect for internal democracy, it has, nevertheless, divided the party. Godfathers who were demystified as well as anointed godsons who got dazed have kicked up dust; it will take the wisdom of Solomon and the political maturity and sagacity of the late sage, Chief Obafemi Awolowo (to quote ex-Head of State, Gen. Yakubu Gowon), for the winner of the APC primary, Rotimi Akeredolu, SAN, to ride the storm; keep everyone within the house; and also get them to work assiduously for his victory at the poll. Akeredolu has an uphill but by no means impossible task. Mimiko has sorely let Ondo state down; the governor’s second term performance is seen by many as below par. He has not been able to pay salaries as at when due despite that as an oil-producing state, Ondo enjoys 13 per cent derivation funds. Efforts to leave a stooge behind are seen as a desperate attempt by Mimiko to cover his tract and prevent the kind of sordid revelations oozing out of Dr. Goodluck Jonathan’s can of worms! As for Akeredolu\ APC, the lacklustre performance of the APC at the Federal level is an albatross. At no time in the history of this country has suffering been this much in the land. A government that promised so much has so far delivered so little. The deafening silence of Yoruba leaders who sold the APC dummy to their people is also seen by many as betrayal of trust to serve selfish interests. Trust my Ondo people: They are up to the task! But is INEC also ready? The INEC chairman recently blamed the ills bedevilling our electoral system on the “attitude” of Nigerians. Asked why there is always a lock-down on

A government that promised so much has so far delivered so little

Election Day whereas this is not so in other lands; why the incessant time-wasting, and money-gobbling supplementary elections when other countries have found neat ways around the problem; why so much tension attend elections here unlike as in, say, Switzerland, where “they finish election and they count at the polling units; they stop a taxi, put the ballot box in it and tell the taxi driver to take it to the collation centre unaccompanied”, the answer was “our attitude”! Why can’t the registration of eligible voters be done round the clock; how will INEC cope with the deficit of funding in a depressed economy without compromising service delivery; when shall we attain maturity for e-voting; and when will politicians here respect due process? The answer was “when we change our attitude”! But what is “attitude”: Innate, in-born, God-given, and immutable; learned, un-learned, and the sum total of our experiences or a mix of these? What is the state of the human mind at birth – a tabula rasa, a personality already fully- or partially-formed or a mix? Are we as Nigerians created differently by God from other people who behave themselves appropriately? To quote the INEC boss, do we carry special genes that define our “attitude as a people and as a nation”? Taking a cue from a character in William Shakespeare’s “Julius Caesar”, is the problem in us or in our stars? Are there environmental factors here, which are absent elsewhere, that dictate our negative “attitude”? Why do Nigerians “misbehave” here but behave properly elsewhere? Citing impunity, which he said allows people get away with anything here, Yakubu hit the nail right on the head when he said: “Any nation that does not punish violators of its own laws is doomed and that is what we are seeing in Nigeria”. I dare to add, not only with elections but also in all facets of our national life – economy, private and public sectors, social life and sport, driving on the highway, fighting corruption and criminals, citizen versus citizen, government versus citizen, Government versus government; name it. Without law and order and respect for due process in all things and at all times, regardless whose ox is gored - we go nowhere.

Ekere: Best laugh for a rejected stone Dominik Umosen

he advice that the man with the grace of God upon his life walks away, even in the face of provocation, was specifically invented for accomplished mogul, Hon Nsima Ekere, the managing-director designate of the Niger Delta Development Commission (NDDC). Even after being forced to resign as Deputy-Governor of Akwa Ibom State by an insecure principal who felt threatened by his dazzling deputy, soft-spoken Ekere simply walked away with his dignity reinforced by the fact that he considered a fuss beneath his electric style.

Naturally, this unconventional style of politics confounded many, especially those not familiar with the enduring humility that continues to define this personality who carries his business accomplishment with remarkable understatement and whose appointment is hailed by stakeholders as reflective of Pres Muhammadu Buhari’s resolve to entrust development of the neglected oil-rich and restive Niger Delta in the most capable hands. Indeed, the political rehabilitation of Mr Fix-it (as the master strategist is fondly called), by providence

neutralizes the consternation which set in after the lame duck state legislature under Rt Hon Sam Ikon undermined its credibility and sacrificed capacity for political megalomania. Unfolding events amply vindicate this position. The eruption of spontaneous approval since the appointment testifies to the massive support Ekere enjoys across the Niger Delta where he sustains a rich network of contacts from his Port Harcourt base. From a humble beginning which he has never taken for granted, the new NDDC boss built a successful business empire that is understandably anchored on his professional passionreal estate. And as a committed family man, he has toiled without scandal or controversy, building a rich network of contacts across the region and earning a solid reputation as a team player who abhors fights or insults, no matter the provocation. As a matter of fact, testimony to the fact that Ekere is a man of destiny is the pleasant twist provided by his former principal and Senate Minority Leader, Chief Godswill Akpabio who urged his colleagues to note especially his former deputy’s overwhelming endorsement for the NDDC top job, especially by groups and youths across the tension-soaked region. The significance of Ekere’s huge endorsement for the job is that under his watch, restiveness will subside drastically in the strategic Niger Delta because his leadership enjoys genuine syn-

ergy and confidence, especially among youths who consider him a leader they can trust; someone with a track record of enduring partnerships that is easily verifiable. A consummate strategist who commands considerable influence among youths who also power militancy that has derailed the country’s economy, the predominant momentum of argument among stakeholders is that Ekere’s appointment testifies to Buhari’s genuine commitment to walk the talk of development in a region that has suffered untold neglect and economic terrorism despite its functionality as mainstay of the country’s economy. And because his private contribution to capacity development across the region where he maintains a rich network of contacts is significant, the assurance is there that he will leverage on the wider platform provided by the commission to fast-track genuine development in the long-suffering region; development to which he contributed significantly, even in his private capacity. It would be recalled that in a communique issued after meeting in Port Harcourt recently, a coalition of stakeholder groups, Southern Youths Leadership Forum, hailed President Buhari for appointing someone who truly feels the pulse of the region as managing director of the NDDC. The leader of the coalition, Dr Bassey Akpan, described the president’s gesture as revolutionary and

ground-breaking because it is the first time someone who understands the peculiar problems and terrain of the region is steering the commission. Part of the revolutionary wisdom in Buhari’s master stroke is the fact that by entrusting development of the oil-producing region in the hands of someone considered trust-worthy by stakeholders, especially youths, the problem of militancy would naturally fizzle out. In other words, the same stone used to achieve sustainable development in the region would equally prove useful in silencing militancy which requires political, not military solution which has consistently proven futile. Ekere’s vindication by history proves right the country’s first president, late Dr Nnanmdi Azikiwe, who described it as dependable for always vindicating the just. Spontaneous affirmations of support for his suitability for the tough job of transforming a region he knows like the back of his palm imposes on the Senate an obligation to confirm, without hesitation, the appointment of the stone who defied rejection. Indeed, huge support for his appointment should make the president feel vindicated while massive solidarity for the proverbial rejected stone across the region should steel the beneficiary of the last and best laugh for the gritty task of re-enacting his trade mark magic in the commission. • Umosen, wrote from dominikumosen1@gmail. com

EDITORIAL

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Agriculture: The way to go

hough the Holy book tells us that “man shall not live by bread alone”, it is a known fact that man cannot live long without food. Importance of food to man and a nation cannot be overemphasized. A country that cannot feed itself is rarely respected in the comity of nations. There is hunger in the land. Nigeria’s population keeps increasing and farmers keep decreasing. Nobody wants to farm again. The few people still engaged in farming are old or getting old and because of government’s neglect of farmers, their children have no plan to take over the profession. The farm settlements established decades back are deserted and desolate. It is, therefore, cheering news that the present administration plans to engage graduates in agricultural production across the nation’s 109 senatorial districts. Minister of Water Resources, Suleiman Adamu, while flagging-off the Graduate Farmers Employment Scheme, said the current economic situation in Nigeria had made integrated farming more imperative as agriculture had the potential to boost the nation’s ability to feed itself and provide the largest opportunity to create jobs for the country’s teeming unemployed. The 12 existing River Basin Development Authorities, scattered all over Nigeria, he said, would be re-energised for this purpose. We commend this govern-

ment’s back-to-land move as it will help reduce unemployment, as well as boost food production and ultimately help us out of the recession that the country is going through. Successive governments have always paid lip service to helping farmers and boosting agriculture without really doing much relying solely on revenue from oil for budget and survival. Serious attention has not been paid to farming over the years; farmers who are scattered in the hinterland are left unorganized using crude and energy-consuming implements. So, this has

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independence, up till the early 60s, agriculture was the pride of Nigerian export. Cash crops like cocoa, groundnut and palm oil competed. It was a time when governments, at all levels, took agriculture seriously. There was dynamic research and effective extension strategy for food and crop production; there was the Revitalised Commodity Extension Strategy where emphasis was on

Malaysia, the highest producer of palm oil in the world, took palm seedlings from Nigeria

turned Nigeria, a country which professes to be agriculturallyoriented to a country which relies on imported food. In times past each region was synonymous with its cash crop. The North produced cotton and groundnut in abundance; the West produced cocoa for export while the East produced palm oil. History has it that Malaysia, the highest producer of palm oil in the world, took palm seedlings from Nigeria. Now the groundnut pyramids on the currency we spent while growing up have all disappeared! Nigeria is just struggling now to be counted among exporters of cocoa and palm oil! How did we get here? Before

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selected crops like palm oil, groundnut and cocoa and the Farm Settlement Strategy, a concept to entice young school leavers to farming as a career.

The ‘oil boom’ era of the 1973 and 1980s changed all of this. It diverted government’s attention from pursuing and entrenching these laudable projects. Now that the fortunes of oil have nosedived, there cannot be a better time than now for us to turn back and invest heavily in agriculture. We can learn from the then regional governments that established farm settlements in zones within their regions to engage and encourage youths to farm and to boost food production. Interested youths were taught at the agriculture training institutes the art of managing medium and large scale mechanised farms, livestock husbandry and how to operate vari-

ous agricultural equipment. Government provided each of these young farmers land according to their needs, as well as a 2-bedroom farmhouse. Accessible roads were constructed within such settlements and to their farms. Tractors and other modern farming equipment were made at their disposal in ploughing the land at subsidised rates. We suggest that, in addition to these, government should establish schools and clinics as well as providing electricity in the new farm settlements so that young farmers can stay with their families and concentrate on farm work and not be attracted to the city. Low interest agricultural loans should also be made available to these young farmers as well as giving them access to high-yielding and disease resistant variety of seeds from research institutes. Nigeria is blessed with uncultivated fertile vast landscape. There are 774 local governments in Nigeria. If farm settlements are established in half or two thirds of these councils, government would have succeeded in reducing unemployment and indirectly curbing crime, as well as increasing food production which will ultimately boost the economy. An enabling environment should also be provided for people to farm. Most importantly, government should make legislation against herdsmen grazing their cattle on people’s farm.

POLITICS

It is a show of strength by the various security agencies as Edo State is locked down, given massive deployment of security personnel to ensure a violent-free poll, Emmanuel Onani reports

WEDNESDAY, SEPTEMBER 28, 2016 NEW TELEGRAPH

Forces in show of strength

ecurity for the Edo governorship election has not been taken for granted by the relevant agencies. Police authorities had on Monday announced that they are deploying 25,000 personnel as part of measures to guarantee a violencefree poll. The Force, through the Inspector-General of Police, Mr. Ibrahim Idris, equally assured on maximum security before, during and after the election. This is as the CommandantGeneral (CG) of the Nigeria Security and Civil Defence Corps (NSCDC), Mr. Abdullahi Muhammadu, also ordered the deployment of 20,000 men of the Corps for the poll. It will be recalled that adverse security and intelligence reports from the Police and the Department of State Services (DSS), had forced the Independent National Electoral Commission (INEC) to postpone the poll by 18 days. The election was formally scheduled to hold on September 10. Consequent upon the circumstance that necessitated the shift, the Police, on Monday, said they have enunciated a revised operation plan for tomorrow's exercise. In the said revised security plan, the Force said officers and men will be "firm and decisive" in handling electoral offences and other infractions before, during and after the exercise. A statement by the Force Public Relations Officer (FPRO), Mr. Don Awunah, a Deputy Commissioner of Police, reads: "The Inspector General of Police, IGP Ibrahim K Idris...determined to ensure that the rescheduled Edo gubernatorial election is conducted in an atmosphere of peace and security has ordered the activation of the revised operation plan for the governorship election slated to hold throughout the state on Wednesday. “The revised election security operation plan will guarantee free, fair and credible election, secure electoral process, enable eligible voters exercise their franchise freely and voluntary, protection

Police personnel deployed for the election.

of election materials and officials, ensure adequate security before, during and after the election. "In the same vein, protection of life and property in the entire State will be of paramount importance. However, the Police will be firm and decisive in dealing with any infractions of the law, actions and activities that constitute breach of peace and contrary to public order." According to the statement, the tactical teams that will prosecute the election security mandate alongside conventional policemen, will be drawn from the Police Mobile Force (PMF), Counter-Terrorism Unit (CTU), Explosive Ordinance Disposal (EOD), Police Air Wing (for aerial patrol), among others. While directing the Commissioner of Police (CP) in Edo State to enforce restriction of movement of vehicles (not on essential duties) between 12 midnight today and 6:00pm on the election day, the IGP enjoined officers to conduct themselves within the ambit of their mandate. In the same vein, the NSCDC has deployed 20,000 of its personnel, to provide security during the poll. The disclosure was made in a statement yesterday by the Corps' Public Relations Officer, Mr. Emmanuel Okeh, an Assistant Commandant of Corps (ACC). According to Okeh, the Acting Deputy Commandant General in charge of Operations, Mr. Hillary Madu, will coordinate operations during the period. “The Commandant General of the...NSCDC... has directed the immediate deployment of 20,000

C O N T I N U E D F R O M PA G E 1 5

the area “that will not stop anything because politics is about development and not sentiment.” The justification by the various camps for their respective actions, notwithstanding, many queried the rationale for the endorsements though it is the right of every citizen as provided in Section 40 of the 1999 Constitution that “every person shall be entitled to assemble freely and associate with other persons, and in particular he may form or belong to any political party, trade union or any other association for the protection of his interests.”

Edo DECIDES

Personnel for the Edo gubernatorial poll of September 28. “The CG has charged the Acting Deputy Commandant General Operations...to relocate his office to Edo state for the purpose of the election in order to guarantee free and fair election without violence, rancour and gerrymandering. “The Acting DCG is to be assisted by two Assistant Commandant Generals in Charge of Zone G Benin and Zone E Owerri with five commandants drawn from the neighbouring states, while the personnel are to be re-deployed from Kogi, Ondo, Delta, Bayelsa and Anambra state Commands respectively to complement the deployment of personnel from Edo State Command to all nooks and crannies of the state," the statement read in part. Also deployed to coordinate security operations during the exercise, is a Deputy Inspector General of Police (DIG), who will be assisted by an Assistant Inspector General of Police, as well as three Commissioners of Police. Furthermore, 10 Armoured Personnel Carriers (APCs), and 550 patrol vehicles, will be deployed for the purpose, while helicopters are expected to provide aerial surveillance. In addition to the Police and NSCDC deployment, the 4 Brigade command of the Nigeria Army, Benin said that 1,900 of its personnel would be deployed for the exercise. The commandant, Brigadier General Raji Benbela stated that aside the personnel, two drones would be deployed in each of the three senatorial districts and six

gunboats for the riverine areas. The military personnel would not be stationed at either the voting or collation centres but would be charged with the responsibility of cordoning off adjoining routes to the polling units to checkmate criminal elements or those out to cause confusion. “The Nigerian Army is there to play a supportive role to the security agencies. Should there be issues or security challenges beyond the control of the security agencies, the military will, of course, be activated to take care of such situations," Brig-Gen. Benbela disclosed this during a show of force organised in collaboration with the Nigeria Police and other security agencies in Benin. He added that the devices would be used to provide aerial surveillance in the 18 local government areas and expose the activities of hoodlums. “The Nigerian Army, in its constitutional responsibility in support to civil authority, has a duty to protect lives and property of citizens. This is what informed the decision to organise this exercise in collaboration with sister security agencies, with a view to giving the electorate the confidence to exercise their franchise.” The commander, however, noted that soldiers would be deployed in key locations to forestall any interference with the electoral process.” The Commissioner of Police in the state, Fimihan Adeoye, who also spoke on security, assured voters that adequate arrangements had been made to protect their rights.

Royalty in murky waters of politics Those who saw nothing wrong with the endorsements by the monarchs were of the opinion that politics is not bigger than the traditional institution and so, if dabbling into affairs of the state is going to make the difference for the people, the monarchs should influence issues smartly. But, a political school of thought, which believes that traditional rulers should not dabble into politics, opined that it will spare the nation needless controversies. This, perhaps, explains the worry of

a an Edo indigene, Evang. Solomon Eseigbe, who said: “If these candidates are already paying as much as N9 million to royal fathers to solicit their support and not on the basis of their manifesto or competence to govern and change the economic and infrastructural fortune of Edo people, it means Edo would be in trouble if they win because the traditional rulers cannot bring these politicians to order when they now go on treasury looting spree. So, politicians and our supposed revered traditional rulers should

please stop monetising politics in the country and in our state in particular.” As the debate rages on the participation of royal fathers in partisan politics, it should be noted that the separation of traditional institution from the state does not mean that should not exercise their right to free speech and association. To many, the traditional institution remains a driving force for the masses, as affinity exists between them and their leaders though the danger is with those who choose to ferment prejudice.

WEDNESday, SEPTEMBER 28, 2016 NEW TELEGRAPH

Life in the city Succour for Ketu-Alapere residents

The Mega City

Life in Mega City Oil exploration: Making Lagos different

...EXCLUSIVE LAGOS MAGAZINE

21 23

The newly constructed Ikorodu Road at Aruna Bus Stop. (Inset) the decayed Ijeododo Road in Alimosho Local Government Area

Contrasting fortunes of Ikorodu, Alimosho They are two big local governments in Lagos State. While residents of one are full of praises for what the government has done for them, residents of the other are lamenting their plight, begging the government to remember them. ELIZABETH OGUNBAMOWO reports

korodu is a large Lagos city with a population of over 700, 000 residents. It has a common boundary with Agbowa-Ikosi, a town in the Epe division of Lagos

OLUWATOSIN OMONIYI CITY Editor

tosin.omoniyi@newtelegraphonline.com

state. Being a big city on its own, Ikorodu has a large industrial area containing many factories. The commerciality of the city really tells well of it. In Ikorodu alone, half of the 25 registered banks by CBN have their branch offices located there. Meanwhile, Ikorodu at one time had suffered neglect from the state government, even with its high commercial capacity in the state. Residents and other concerned citizens passed a lot of letters to the Ministry of Works and Infrastructure for intervention. All hopes were almost lost till recently. The intervention of the state government in the road projects in Ikorodu really gave Ikorodu a

Road construction is a great achievement of the state government

new look. In fact, it glitters. A town that was known for traffic jam as a result of the presence of countless pot holes and ditches is now smooth. A visit to Ikorodu would say it all. Gliding into Ikorodu from Ojota or from whichever direction, one would discover that the gliding is all through smooth without any discomfort. The roads are well paved, no need for unconscious dance rehearsals on the way or buying pain killers after a journey to and fro Ikorodu. All unnecessary brake screeching when pedestrians want to cross the roads are over as the government has now provided pedestrian bridges at almost all the bus stops for ease of movement. Ikorodu, no doubt, had received the touch of transformation. Both residents and visitors to the area are singing the praises of the government for remembering Ikorodu after so many years. However, no matter how bright the sun shines, there will definitely be a cloud in the sky. Though the state government has done a lot in

transforming Ikorodu from what was obtainable, to what it is now, some residents still believe that there are some loopholes. While some complain about the position of the pedestrian bridges, some others find faults in the road itself. New Telegraph's visit to the area revealed varied opinion of the residents on the road construction. Chibuzor Okeke, a resident of Ikorodu, said, that no doubt, the road construction is a great achievement on part of the state Government. “Now we have bridges and bus stops that control the movements of buses. Before it wasn't like this, as there was enormous traffic Jam. Now, we have various lanes,” he said. However, he believed that there are still certain things that needed to be put in place. Chibuzor felt that the area still needs the presence of security personnel in large numbers. According to him, "the various bridges are not used often simply because CONTINUED ON PAGE 20

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CONTINUED FROM PAGE 19

of impatience. There should be security operatives stationed to clamp on this people. Also, cultism in Ikorodu is too much, especially from youths in the area. When you go to Odogunyan, they are just too plenty there. You see young people stealing and causing damage, but as for the road construction, I really appreciate what has been done so far." Akeem Owolabi, a resident of Okere Asumo Balogun in Ikorodu commended the Lagos State government, especially on the road construction. He said: "What the government has done here is really commendable. The BRT is a very good thing. It gives people rest of mind. When it comes to transportation issue, you see, what people were facing before in the area of transportation was unbearable but with the new roads and BRT, we are now enjoying." But in the area of pedestrian bridges, Owolabi believed there should be a little adjustment. "The bridges are very important but some of the places where the bridges were placed are not strategic and therefore rendered the bridges useless. For instance, the one at Agric bus stop, how do they expect people who want to move to the other side from that Owutu road to first walk to the bridge and walk back again after descending. People will just cross like that, without even looking at the bridge twice. The one at Majidun Awori is in the bush, how many people can you see plying that route? The one at Aruna here is also useless, people don't need it. The one at Ogolonto now, they are supposed to put the bridge in front of the government school there, so that it would be useful for the school children. It's not all about constructing pedestrian bridges, but to place them at strategic places that is important. There are some things they did well and there are some they didn't do well, they should adjust them." Owolabi, however believed that some residents of Ikorodu are still not enjoying what the government has done. He therefore recommended that the government should create more bus stops. Mr. Prince Buoro, an Engineer also spoke to New Telegraph. To him, there is nothing wrong with what the government has done. He said:"The government has really tried with this project for Ikorodu residents. What they've done here can be compared to what is obtainable in the UK. The only thing that needs to be done with the BRT is that they should consider the timing. Sometimes, pedestrians stay at BRT bus stops for more than an hour on working days and yet there would be no bus to convey them but sometimes empty buses would be passing here. When we question the officials here, they tell us that the bus is going somewhere else." Speaking on the underutilization of the bridges, Buoro mentioned that Lagosians need to be re-oriented. "The people they have done this for are not well oriented. It is only when we do away with the Nigerian mentality we have, that things would be alright. People should be re-oriented including the BRT drivers."

Underutilised bridge at Agric Bus Stop in Ikorodu

Contrasting fortunes of Ikorodu, Alimosho

Ijagemo road

A mobile marketer who resides in Ikorodu, Mr. Olaleye Olatunji, said, "the government has really done a good job, but we still need more from them. The roads are now good but they should please expand the road more. They should increase the lanes to four and on the BRT lane, they should also expand there, the place is too tight for two buses. Sometimes, accidents usually occur here at Ogolonto whenever cars want to cross at that junction. Something should be done about that. The spaces allocated to the flower pots are too wide. They should reduce that, and it would help in the expansion" He also spoke on the underutilization of the pedestrian bridges. He said:"Some people would definitely cross the road instead of using the bridge. It is not everybody that has the strength of climbing. Some people are old, and some are pregnant. Moreover, those that are supposed to be here to ensure that people use the bridge are not doing their job well. The government should re-orientate them and make them know that money is not everything." Simultaneously is another local government in Lagos: Alimosho local government but it is a sharp contrast with Ikorodu in development and beauty. Popularly referred to as the largest local government in the state, Alimosho's population as at 2006 was estimated at 2million. It shares a boundary with Ogun state, a potential business partner. As large as this local government is, the

The roads are terrible and people's shops get flooded whenever it rains

government has not done something spectacular for residents in the area of infrastructural development. All what the residents there do is to pray against heavy rain fall; obviously, the rich ones might not pray such prayers since they know they have a way out. According to the testimony of most residents of Alimosho, they only hear about what the government has done, but not a feel of the infrastructural development taking place in the state. The main roads that have been tarred for a very long time are already worn out in need of reconstruction, some of the inner-city routes that have not been touched at all decay day after day, making the journey to and fro work unbearable for residents. The residents of Ijagemo and Ijeododo roads (part of Alimosho local government) which could link to FESTAC, are hoping that if projects were executed in those areas, it would bring money into the pockets of the residents, thereby causing the GDP of the state to increase. The Egan road that could have linked Lagos State to Ogun border is not accessible to interested travelers. The Obadore road in Igando-Ikotun LCDA needs urgent attention. The residents of the area seem to have added a new prayer point to the first one. Ikorodu is now a reference point to them. At Iyana Ipaja, there is need for a pedestrian bridge in a place not too far from the already existing fly over meant for vehicles. The absence of a pedestrian there has cost some people their lives and that of their loved ones. Some have been injured while crossing. New Telegraph spoke to some residents in Alimosho. While some expressed their grief over the neglect they suffer, some are expectant and full of hope that the government would definitely remember them someday. Mrs. Kayode Aduke, a resident of Idimu mentioned that Alimosho has been forgotten by the government. She said:"There is nothing at Alimosho. All what the government has done for us here is the street lights. That's all. We have no roads at all here. This place is a bush; it is not part of the megacity called Lagos. If I'm to refer to Lagos as a megacity, then I'll take it from Eko to Ikorodu. Alimosho is not part of that mega

city." She, however, urges the government to consider the fact that Alimosho is the largest local government in Lagos and provide good roads, pedestrian bridges, especially at Iyana Ipaja and Iyana Dopemu. Mr. Segun Oyinlola, also a resident of Alimosho, complained on the losses people do suffer during rainy season. He said, "I just pray government remembers us someday. The way people suffer here in Ijagemo during rainy season is not good at all. The roads are terrible and so many people's shops get flooded whenever it rains and that would destroy the goods in it." He also said he believed that government would do something but hoped whatever the government wants to do should be executed quickly. Mr. Solomon Okeowo, a resident of Igando area of Alimosho, spoke to New Telegraph on the condition of the roads in Alimosho. He said: "First of all, I would like to commend the government on what they have done so far concerning infrastructural development in the state, but, to be very sincere, the government seems to have forgotten us here in Igando precisely. We go out to other parts of this same Lagos and we see what the government has done for the people there. But here, we get nothing though they said we are the largest local government. Look at the roads, they are not good at all. Do they think we are not humans? They should just please consider us and start something first and stop giving us empty promises." However, an official at the Lagos Ministry of Works and Infrastructure revealed that the government has plans for Alimosho Local Government. "Government is trying to make sure that all the parts of Lagos are reached. As for Alimosho, government has a lot in store for that place. For development to take place, it is not a one day thing. It is gradual. So, people should stay calm for now, and Alimosho is a very big place so it needs strategic plans," he explained. When asked if there were any plans to construct a pedestrian bridge at Iyana Ipaja, he said that there were no plans as at the time this interview was conducted.

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WEDNESday, SEPTEMBER 28, 2016 NEW TELEGRAPH

Succour for Ketu-Alapere residents

Muritala Ayinla

ecently, the Lagos State government continued its strategies towards ensuring free flow of traffic with the commissioning of Alapere Lay-by and a slip road. The commissioning ceremony coincided with the flag-off of additional 114 roads across the councils. They are close to the main road, yet they are said to be the worst hit by the constant traffic gridlock in Lagos metropolis especially along the Third Mainland Bridge. Despite their proximity to the bridge linking the Lagos Island to the Mainland, they rarely enjoy smooth traffic flow due lack of access slip road and good layby. For them, it was difficult to predict their travel time in spite of living in a strategic location. That was the story of most residents and motorists in Alapere area of the state before Governor Akinwunmi Ambode-led administration commissioned the new Ketu-Alapere modern Lay-by and 700 meters concretized Slip Road. Mega City learnt that the road, which comes with horticulture, artworks, walkways, covered drains and street lights is a concretized road designed to last for at least, 25 years. While commissioning the Lay-by and the concretized Slip Road, Ambode said that it was another mission statement of his administrationâ&#x20AC;&#x2122;s commitment to making life better for residents and investors in the state. According to the governor, who was represented by his Deputy, Dr Idiat Adebule, the new look of Alapere-Ketu LayBy, was characterized by the construction of a two-lane access road from Iyana Oworo inwards Alapere-Ketu that would relieve traffic flow towards Lagos-Ibadan Expressway and Ojodu-Berger axis. The governor added that the provision was also made for pedestrian safety with the integration of a two-metre wide walkway and drainage on one side of the lay-by access inwards Alapere-Ketu, to ensure that vehicular movement is not impeded by pedestrians. Urging the transport unions to educate their members on observation of State Traffic Laws and road etiquette for the safety of all, he said that the provision of the lay-by will considerably reduce travel time for all motorists. Therefore, commercial vehicles have no cause to create gridlocks in order to get to their destinations. On his part, the Special Adviser to the Governor on Transportation, Olarenwaju Elegushi, said that the state government remained committed to easing transportation in the state through rehabilitation and construction of roads and lay-bys. Elegushi said constant traffic gridlock hampers the stateâ&#x20AC;&#x2122;s ability to build a virile economy, hence, the government would

Newly built Slip Road in Alapere, Ketu by Lagos State Government, commissioned at the weekend

provide both human and technological solution to mitigate it. In the same vein, Ambode, who was also represented in the flagging off of the 114 roads, described the construction of the inner roads as his administration's initiative designed in fulfilment of his campaign promise, which, according to him, was geared towards massive intervention on access and link roads, boost security and increase the socio-economic well-being of residents of the state. He noted that the newly constructed 114 roads, which were designed with walkways, medians, street lights and standard drainage systems, were selected two per each of the 57 LGs and LCDAs in the State. Meanwhile, as Ketu-Alapere, residents are commending the state government over the initiatives which they said are yielding positive results. Some prominent traditional rulers in Lagos State, lawmakers and party chieftains also heaped praises on the Ambode-led administration, especially on the 114 roads newly constructed in all the 57 Local Government Areas and Local Council Development Areas (LCDAs) in the state. Speaking on the newly constructed roads, Ayangburen of Ikorodu Kingdom, Oba Kabiru Shotebi, said the delivery of the projects and many other projects embarked upon by Ambode since coming on board, had vindicated the National Leader

Lagos State Deputy Governor, Dr. (Mrs.) Oluranti Adebule (middle), cutting the tape to commission the lay-by in Alapere, Ketu, at the weekend. With her (R-L) are the Managing Director, Planet Project Limited, Mr. Biodun Otunola; Special Adviser to the Governor on Transportation, Prince Anofi Elegushi; Oba of Ketu, Oba Isiaka Balogun Oyero and Special Adviser to the Governor on Housing, Mrs. Aramide Giwason

This is a great achievement in not just the history of Lagos, but Nigeria

of All Progressives Congress (APC), Asiwaju Bola Ahmed Tinubu. The monarch said Ambode deserved to be commended for the massive developmental projects and other initiatives aimed at making life simpler, easy and better for the people. Another monarch, Ranodu of Imota, Oba Ajibade Agoro, said the completion of the 114 roads was a great achievement in not just the history of Lagos but Nigeria, adding that Ambode has proven himself to be a miracle worker and a silent achiever, who is passionately committed to the development of the state. "When Asiwaju Bola Tinubu came, he laid a solid foundation

in Lagos State and Governor Babatunde Fashola built on it and made tremendous progress. Now, Governor Ambode is acting as a miracle worker in government and moving the State forward," Oba Agoro said. Also, Majority Leader of Lagos State House of Assembly, Mr. Sanai Agunbiade, and a member of the Federal House of Representatives representing Ikorodu, Mr. Babajimi Benson, said the 114 roads were a confirmation that the All Progressives Congress (APC) government in Lagos State under the leadership of Governor Ambode was really concerned about the people and infrastructural transformation.

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One of the beneficiaries displaying her sewing machine and other tools, administration of members of her family and friends

A thought for the needy Kayode Olanrewaju

espite the economic recession confronting the country, a non-governmental organisation, the Remi Awode Foundation (RAF) of Cherubim and Seraphim Movement Church, Chapel of Divine Blessing, Alagbado, Lagos last week put smiles on the faces of 82 indigent members of the church. It was at this year’s edition of empowerment programme of the Foundation tagged: “2016 RAF Second Empowerment Service,” where over N25 million cash and materials were distributed to 82 beneficiaries of the programme this year as financial assistance to start up their businesses and reduce poverty among members of the church. The Remi Awode Foundation (RAF) was founded in on January 2013 by a group of philanthropists, led by the Group Managing Director/Chief Executive Officer of Chemstar Paints Industry Nigeria Limited, manufacturer of Finecoat and Shield Paints, Special Apostle Emmanuel Aderemi Awode, a member of the church and whom the foundation was named after. Apart from cash distribution, the materials distributed to them included deep freezers, sewing machines and other tools, generating sets and catering materials, bead making materials, paints, variety of soft drink, grinding machines, stabilizers, among other items. The second RAF empowerment service, which took place at the church auditorium, attracted the Leader of the Church, Sp. Ap. John Adegoyega Oyeku JP; the Deputy Leader, Sp. Ap. John Idowu; Sp. Ap. Emmanuel Remi Awode; and other leaders of the church. Of the 82 beneficiaries under the 2016 empowerment programme, 35 recipients received deep freezer/stabilizers and variety of soft drink to start their busi-

nesses, four fashion designers got sewing machines and tools; food stuff for raw food sellers; business centre owners got generating sets, flour and baking items for caterers; electrical materials for electricians; pharmaceuticals and drugs for patent medicine dealers; cement and paints for cement and paints dealers, fishery/ piggery, raw food packaging plastic drum for such dealers. According to the Chairman of the Foundation, Samuel Adeolu Akinsanya, about 179 applicants applied for this year’s empowerment programme and after thorough interview, based on the criteria set out by the RAF Committee, which included evidence of Tithe payment and membership of the church, 82 members were successful. He said the successful members were empowered with financial aid and other materials relevant to their professions and trades to boost their businesses, while some others were empowered to start up their businesses in order to meet their financial challenges. In the 2015 edition of the programme, no fewer than 20 members, who benefited from the empowerment programme, received over N20 million cash and materials. The list, Akinsanya said, included two tricycles (Keke NAPEP); three members were trained as printers, while two of them got money for two years office rent; while a number of women were empowered with deep freezers and soft drink to start their businesses. Besides, some members were empowered with washing machines and irons for their dry cleaning business; some got grinding machines; and others were trained in bead and wire works and empow-

The major objective is to win souls to the Body of Christ

ered with cash and materials to start their business. Under its loans and grants, the Foundation in 2014 provided loans to 75 church members with zero interest, while other 92 members benefited from cash grants given to them in order to cushion their financial challenges. The beneficiaries were trained and empowered in fishery, soap making/insecticide, catering, fashion designing, event decoration, bead/wire works, computer training and printing. As its pioneer project, RAF in 2013 donated a borehole water project with 5,000 litres to the host community of the church, to easy water problem in the area, while in 2014 bought and distributed five cars to the church leaders, and the church prophet and pastor. The co-founder of the foundation, Special Apostle Aderemi Awode, in his sermon, entitled: “Time, Talent and Wealth”, organised as part of the empowerment service, noted that Christians ought to honour God with these three natural gifts as a way of reciprocating His kind gesture to humanity. While quoting from John 3:27 “…a man receives nothing, except it be given him from heaven,” added that the blessing will never cease in the custody of any man that entrusted God with his time, talent and wealth. Awode described RAF as a divine philanthropic assignment aimed at teaching members how to fish and giving them the tools with which to fish. While distributing the items and cash gifts to the lucky members, Awode admonished them to make effective use of the opportunity for a better life and to win more souls to the Kingdom of God without being necessarily tele-guided. This, according to him, would

go a long way in further motivating the founders of the initiative to continue the divine assignment annually. He, however, lamented the ungodly attitude of some members of the church who collected the 2014 revolving loans worth N8 million and refused to pay back. Awode attributed this bad attitude to the cancellation of the loan aspect of the empowerment programme and the need to concentrate more on empowerment in diverse areas of human endeavor for the members of the church in order to put smiles on their faces. The founder expressed optimism that this was the beginning of a new vista in the empowerment of God’s people. “This is just the beginning. In fact, the best is yet to come. It will continue to multiply. In 2014, when we started, N10 million was given out as free interest loan; in 2015, N20 million was spent to empower the people, and as God would have it this year, we are spending nothing less than N25 million for the second year of the empowerment scheme,” Awode said. Akinsanya, who recalled that RAF was inaugurated in 2013, by Special Apostle Awode and other foreign investors to evangelize the gospel of Christ and put smiles on the faces of members. “The major objective is to win souls to the body of Christ, to depopulate the kingdom of darkness and populate the Kingdom of God” the Chairman added. According to him, in 2014, soft loans ranging from N30,000 to N500,000 were given 75 member, while a minimum of N50,000 grants were given to each of the 92 beneficiaries. He, however, pointed out that the loan facility had to be suspended when it was abused by most of the recipients defaulted in the repayment of the loans. “Presently, we have over N8 million loans that were not pay back and still in the hands of some notable members of the church,” the chairman said. To Akinsanya, the process of selecting beneficiaries was transparent without any preferential treatment given to any member, except those who met the criteria and indeed in need of such help based essentially on their financial status. In their reaction to the empowerment programme, some of the beneficiaries including Femi Ajijola; Omolabake Bakare and Emmanuel Fajengbesi described the gesture as a “wonderful and divine initiative” that would go a long way in transforming their lives for better. Specifically, the high points of the event were the presentation of “Golden Award” to Special Apostle Aderemi Awode by the Church’s chapter of the Girl’s Brigade of Nigeria; cutting of 2016 RAF empowerment cake. Some gospel singer and artistes, including Evangelist Tope Alabi, who was accompanied by her husband, Mr. Soji Alabi, as well as Sola George of Gospel-Juju Band, entertained the guests and congregation.

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Oil exploration: Making Lagos different

'It will bring more benefits to Lagos' Stories by Elizabeth Ogunbamowo

agos is an industrialized state already. So, the discovery of oil there would further bring more businesses to Lagos State. The Badagry area of Lagos where oil was discovered is known for fishing. The exploration of oil there might cause damage to their ecosystem just like it damaged that of Niger Delta, and that would automatically put a stop to the supply of fish from Badagry to neighbouring towns and even to the city. The state government should

put in place measures that would counter the present problem that is being experienced in Niger Delta, so that they would not be repeated here in Lagos. Majorly, it’s about the natural habitat that they should ensure they protect. Aside from that, they should obviously develop the area and positively touch the lives of people in that vicinity. They should also provide social amenities and infrastructure, provision of good roads for easy accessibility to that particular area. Mrs. Aguba Morenike, Banker

Okotie: Private sector should be involved

‘T

o avoid all the problems that occurred in Niger Delta from occurring here in Lagos, I think the government should involve the private sector. They should allow private ownership because anything about government is always done lackadaisically but when it is done by private firms; things would be done effectively and efficiently. You know the major aim of private firms is to make profit. So, in a bid to make profit, they ensure they do it wellcompensating people

Morenike

Host communities should be compensated – Olorunfemi

agos State is not a place where all those things that happened in Niger Delta should be repeated. Any of such things happening here would affect a lot of people considering the population of Lagos. To avoid all those things, I think the government should ensure they compensate the people of that particular community. They should construct good and motorable roads for them, provide some basic things they also need like health centres, schools, bore hole water etc. The government should ensure that security measures that would make it difficult for vandalism to take place are in order because when there is vandalism, people's lives would be in danger. In terms of the benefits of the discovery to Lagos, I believe that the state would have a new means of income. That is more money for the state. There would be creation of more jobs. Lagos would

also be more recognized internationally. Although it has been popular before, now as an oil producing state, its fame would spread farther. It would also help Nigeria recover from the destruction of oil wells in Niger Delta.' Mr. Raymond Olorunfemi, Accountant

Olorunfemi

living there would not be difficult and whatever thing they want to do for the people would be done efficiently. It would come with benefits such as creation of more jobs for the youths of that place specifically. It would also come with complementary industries that would help develop Badagry. It would also introduce some level of technological awareness. It is a win-win situation for the whole state and the country at large'. Mr. Okotie Jonah, Pharmacist

Okotie

Exploration'll provide more jobs – Chiamaka A

ll the things that are happening in Niger Delta now, the bombings, destroying oil wells and the rest, they are all what I refer to as ‘political drama’. If they want to start exploring oil in Lagos without any of those problems, we would need a lot from our government. All these political drama must first of all come to an end. The government would need to ensure they help put a stop to political drama first, so that the oil wells they would start digging in Lagos would not also be blown up. Considering the benefits of the oil discovery here in Lagos, I feel it should minimize fuel scarcity, transporting goods would also be less expensive and that would automatically lead to a decrease in the price of commodities. It would also impact positively on our import and export

and provide more jobs for the youth'. Mrs. Richard Chiamaka, Banker

Chiamaka

David: The gains must be maximally utilised 'Government should forestall degradation of environment' N ow that oil has been discovered in Lagos, the government should work well on how to refine that oil and utilize the maximum opportunity of the discovery. The state government should ensure that all funds that would be given to the community as compensation should be properly used. Let the people see what the government is doing to compensate them, let it not just be that they are hearing it. The discovery would benefit Nigeria as a whole. It would help create job opportunities for the teeming population in Lagos. It will also make Lagos economy rich. That would help the government of Lagos in paying state workers. People’s salaries would be paid on time, and that would extend to other individuals, even those who are not workers for state government. The oil discovery is no doubt a new means of income that would help Lagos government serve the people better'. Mr. Agbejule David, School Proprietor

David

here should be due consultation with them and those consultations should be comprehensive enough to cater for the adverse effect of oil like oil spillage in the community. Lagos State government should also ensure that all necessary apparatus are put in place to forestall the degradation of the environment once the exploration commences. This, would make the people feel safe living within the community. The whole dangers associated with the exploration would be kept under watch. I would also suggest that the Lagos State government ensures that the particular community benefits from the exploration. The people there should see the government paying them back in terms of infrastructure, good roads, and other things that would make the people comfortable living in that environment. The oil companies that would be situated there should have a percentage of their work force that would be allocated to community members. In terms of the benefit, oil discovery and exploration in Badagry should enhance development in that community. I expect that all the companies coming to that place would bring

development to that area. It would also create more jobs for people. It would definitely increase the internal generated revenue of Lagos State. Also, the problem of traffic in Lagos would be minimized. Mrs. Osuki Racheal, Principal

Racheal

‘Neighbourhood Watch’, created by the Lagos State government, has come under scrutiny by Lagos residents who wonder the real essence of the outfit. EZURIKE UGOCHUKW x-rays the outfit's activities as the state government puts legal flesh to its existence

The renewed security outfit

s the spate of insecurity increases in dimension and sophistication, it thereby make the local communities susceptible to attack. The Neighbourhood Watch has been in existence for over 17 years, as a creation of the Lagos State government. Continually, it has undergone reforms. In the past regimes, the state had tried to beef up the status of the agency, as a complementary community security outfit made up of members of various communities who served as volunteers within their respective neighbourhoods. Such security measures introduced at that time to help lessen crime in the state includes, establishment of the State Security Trust Fund (SSTF), in partnership with the private sector, evolving of a comprehensive security strategy called the “Safe City Project,” to enable central security surveillance (CSS), and Introduction of the Community Security Assembly (CSA) to educate people at the grassroots about safety to their lives and property. The present administration as well, in her commitment to reducing insecurity has strengthened some existing laws at the same time signed into law new bills like the recent Neighbourhood Safety Corps Law, which stipulates among others, the establishment of the Lagos State Neighbourhood Safety Agency for regulation and control of Neighbourhood Safety Corps activities. The law went further to empower the Corps in assisting the police and other security agencies within the state to maintain law and order across Lagos communities. The law empowers the

Gallant men of the Neighbourhood Watch on parade in Lagos

Corps with the responsibility of registering all private home securities and any other person employed for private home security amongst other security issues. Hakeem Olubanke is a businessman in Ojo area of Lagos, who feigned ignorance of agency like ‘Neighbourhood Watch’ According to him, he quite often sees them in their green uniform within the Ojo Local Government Secretariat and sometimes in company with other law enforcement agents and revenue collectors. “I used to see them as one of those touts, and illegal uniformed groups in the state, who have imposed themselves on the people with the sole aim of extorting the masses. But with the mentioning of the agency and the extant bill establishing it, as one of the two new bills (with the land grabbing law) signed by the governor last August, no person in Lagos now, even beyond may claim ignorance of Neighbourhood watch and what they stand for. “The government should mean business if really they

We ask a hungry man to watch over food. Is it not an irony?

want them to be involved in issues of security. Their remuneration should be encouraging and be harmonised. They should overhaul the system and retain those who have good track records especially those that started as volunteers, flush out those who are now redundant, as well as rogues and touts who camouflage within the agency with the motive of inspecting and identifying houses and offices they will rob in the guise of providing security. There should be reorientation.” He said. For Grace Ighalo, a teacher, it is a right step in the right direction. She said before now, most of them claim they were volunteers and were not being paid as such they sympathise with them and lend them any little help they could. She insisted it was not wise for the government to allow what it could not maintain, that they rather scrapped them than creating security nuisance as Nigeria today is under policed. “I doubt if the government pays them. If so why would they allow men and women with families to be patrolling

WEDNESday, SEPTEMBER 28, 2016 NEW TELEGRAPH

the street as Neighbourhood Security on empty stomach? This is some of those mistakes we make. We ask a hungry man to watch over food. Is it not an irony?” Adeleke Tunde, a retired police officer believed there would be good result when the local front contributes meaningfully to security network, build synergy with other security agencies like the police within the state. “I am happy the government is signing the neighbourhood Watch Law now. The way the police structure and other security agencies work in the country today, the states have no firm control over them. Lagos State needs a strong, wellmotivated and committed community security outfit like this Neighbourhood Watch since we don’t have states police in this country,” Adeleke said. At some of the Local Government secretariats visited, a number of the men of the Neighbourhood Watch who spoke to New Telegraph said they were happy by the new law, trusting this will reduce their sufferings. A middle aged man whose green uniform was in shreds and has almost turned white, said most of them receive peanuts as salary and it’s not regular. “Since three months now, we have not received our monthly salary of N10, 000. I don’t know of others serving in different locations, but for us here in this local government, that’s our situation. You can see, our men are everywhere; in the communities, schools, various government agencies and as assistants to Commissioners and many political appointees. From the look of things, it seems we have been operating under no known law,” he said. At the Lagos State secretariat, Alausa, some Neighbourhood Corps members who spoke to New Telegraph said they receive their salaries from the various ministries they are posted to. They are in the payroll of the ministries they work with and not their mother agency- state secretariat of Neighbourhood Watch Ministry of Local Government and Community Affairs.

QUOTE

OF THE WEEK

“Lagos is actually enjoying a government that has been so responsive and has been able to touch the lives of the rich, the poor. Whether you’re on the mainland or the island, we’re touching lives, and that’s what we intend to do for the rest of this tenure,” Lagos State Governor Akinwunmi Ambode said.

IN NUMBERS More than 120 illegal shanties and structures were demolished in Ikoyi, Lekki and Victoria island ,Lagos State

SE PT .

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Money

Business

How Nigeria can revive investor confidence, by experts

Investor Recession: Time to boost commodities exchanges

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What's new Stanbic, RenCap, 8 others trade N482bn shares in 8 months

LR: Executive Directors of Asset Management Corporation of Nigeria (AMCON), Dr. Eberechukwu Uneze and Mr. Kola Ayeye; Managing Director / Chief Executive Officer of AMCON, Mr. Ahmed Kuru; Chief Judge of the Federal High Court, Justice IN Auta OFR and another Executive Director of AMCON, Mr. Aminu Ismail, at the just concluded Judges Forum of the Federal High Court, in Abuja.

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Cement fallouts: Road contractors plan upward review of contract sums p.26

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 23)

(Interbank as at September 23)

USD . . . . . . . . . . . . . . . . . . . . . . N442 Pounds . . . . . . . . . . . . . . . . . . . N560 Euro . . . . . . . . . . . . . . . . . . . . . . N475

l Foreign Reserves – $46.82bn as at 22/9/2016

USD . . . . . . . . . . . . . . . . . . . . . N305 Pounds . . . . . . . . . . . . . . . . . . N395 Euro . . . . . . . . . . . . . . . . . . . . . . N341

Source: CBN

Nigeria misses $10bn yearly oil expenditure retention target LOCAL CONTENT

The Business Desk Ayodele Aminu

Deputy Editor (Business)

Total has replaced 50 expatriates with Nigerians on the Ofon -2 project in the country’s south east shallow offshore

Bayo Akomolafe

Asst. Editor (Maritime)

Sunday Ojeme

Asst. Editor (Insurance)

Tony Chukwunyem

Asst. Editor (Money Market)

Dayo Ayeyemi Property Editor

Adeola Yusuf Energy Editor

Wole Shadare Aviation Editor

Chris Ugwu

Capital Market Editor

Abdulwahab Isa Finance Editor

Taiwo Hassan

Industry, Agric & Brands Editor

Kunle Azeez

Senior Correspondent

Chuks Onuanyin Energy

Nnamdi Amadi Reporter

Johnson Adebayo

Asst Production Editor

Adeola Yusuf

he Federal Government has missed the target to retain $10 billion investments out of the total $20 billion expenditure made annually by Shell, Chevron, ExxonMobil and other foreign oil and gas multi-nationals. This came as the international oil companies (IOCs) scaled down their annual investments in Nigeria below the $20 billion average benchmark in 2015. The Federal Government had mandated the Nigerian Content Development and Monitoring Board (NCDMB), to, within four years, ensure the retention of over $10 billion out of an average annual oil and gas industry expenditure of $20 billion in the Nigerian economy. Checks by New Telegraph, however, showed that the target, made

public in 2011, one year after the establishment of NCDMB, was not met in December 2015 through August 2016. Expenditure retained, according to procurement documents of some IOCs, is currently less than $4 billion, over $6 billion shortfall from target. With crude prices at 11-year lows, the world’s biggest oil and gas producers are facing their longest period of investment cuts in decades, but are expected to borrow more to preserve the dividends demanded by investors. In Nigeria, all the IOCs reduced their investment portfolio, as crude oil stay below $50 a barrel. Firms such as Total (TOTF.PA), Statoil STO. OL and BP (BP.L) need to balance their books, a level that has already been sharply reduced over the past 18 months. International oil companies, procurement document showed, are once again being forced to cut spending, sell assets, shed jobs and delay projects as the oil slump shows no sign of recovery. They invested below an average of $20 billion benchmark in Nigeria in 2015 and may do less than what they did in 2015 this year. US producers, Chevron (CVX.N) and ConocoPhillips (COP.N), have

$20 billion Being the international oil companies (IOCs) annual investments cut back in Nigeria in 2015

published plans to slash their 2016 budgets by a quarter. Royal Dutch Shell (RDSa.L) has also announced a further $5 billion in spending cuts with its planned takeover of BG Group, BG.L. Generally, oil and gas investments in Nigeria and other countries are expected to fall to their lowest in six years in 2016 to $522 billion, following a 22 per cent fall to $595 billion in 2015, according to the Oslo-based consultancy Rystad Energy. “This will be the first time since the 1986 oil price downturn that we see two consecutive years of a decline in investments,” Bjoernar Tonhaugen, vice president of oil and gas markets at Rystad Energy, said. The activities that survive will be those that offer the best returns. But with the sector’s debt to equity ratio at a relatively low level of around 20 per cent or below, industry sources say companies will take on more borrowing to cover the shortfall in revenue in order to protect the level of dividend payouts. Shell has not cut its dividend since 1945, a tradition its present management is not keen to break. The rest of the sector is also averse to reducing payouts to shareholders, which include the world’s biggest inCONTINUED ON PAGE 26

WEDNESDAY, september 28, 2016 NEW TELEGRAPH

BUSINESS |news

Nigeria misses $10bn yearly oil expenditure retention target CONTINUED FROM PAGE 25

vestment and pension funds, for fear investors might take flight. Meanwhile, notwithstanding the failure to meet the $10 billion investment retention target, the country has recorded feats in its local content drive. For instance, Total Exploration & Production Nigeria Limited, A Nigerian subsidiary of the French major, said it had replaced 50 expatriate with Nigerian workers on the Ofon -2 project in the country’s south east shallow offshore. The company, which said it carried out this feat through its contractor, Hyundai Heavy Industries (HHI), added that the move was to ensure full compliance with all applicable provisions of the Nigerian Content Act. HHI is a contractor on the NNPC/TOTAL Joint Venture’s Ofon-2 Project. TOTAL’s directive follows an intervention by the Nigeria Content Development and Monitoring Board (NCDMB). “While the relevant Ofon contracts was signed in 2007 before the Nigerian Content Act came into effect in 2010, TOTAL supports the Nigerian Government aspirations in respect of Nigerian capacity development and increase of local content in the oil and gas sector,” the company said in a statement. “TOTAL has therefore directed HHI to significantly review the manning ratios to ensure the provisions of the Act are complied with.” Besides, it noted: “Following TOTAL’s directive, HHI has increased Nigerian manning participation from 29 per cent to 65 per cent. “50 expatriate workers from HHI have been replaced by Nigerians and 50 additional positions have been created on the site to train Nigerian staff during the pre-start-up phase of the project. “The TOTAL Group operates in over 130 countries around the world and TOTAL and all contractors working for us are required to carry out all operations in a diligent and professional manner and in full compliance with, and respect for, all national laws and regulations. “TOTAL is committed to working with NCDMB and Total’s contractors to increase local capacity and to train workers for the up-coming projects in Nigeria. With a high ratio of Nigerian content over our major development projects over the last few years on Akpo and Usan and on the recently launched Egina project, Total and its partners are proud to be the leader in Nigerian Content development”. In the same vein, NCDMB, the Nigerian Agip Oil Company (NAOC) and key stakeholders of the oil and gas industry have committed to achieving high Nigerian Content levels in the Zabazaba development project.

Stanbic, RenCap, others trade N482bn shares in 8 months CONTROL Ten stockbrokers are liable for 58.27 per cent of the total value of transactions year-to-date

Chris Ugwu

op 10 leading dealing firms in the Nigerian capital market ended the first eight months of year 2016 exchanging 82.166 billion shares worth N481.998 billion. Investigations by New Telegraph show that the top 10 stockbrokers were liable for 58.27 per cent of the total value between Januar 14, 2016 and August 31, 2016. Also, the stockbrokers are responsible for 56.64 per cent of the total volume during the period under review.

Further findings revealed that Stanbic IBTC Stockbrokers Limited dominated with 13.14 per cent or N108.670 billion exchanged in 7.117 billion shares. Rencap Securities Limited followed with N88.678 billion or 10.72 per cent exchanged in 5.356 billion shares. EFCP Securities Limited accounted for N76.619 billion or 9.26 per cent invested in 4.357 billion shares. CSL Stockbrokers Limited traded N67.769 billion or 8.19 per cent recorded in 7.228 billion shares, while FBN Securities Limited accounted for N37.168 billion or 4.84 per cent in 3.521 billion shares. Greenwich Securities Limited traded N28.015 billion or 3.39 per cent in 27.224 billion shares, while Chapel Hill Denham Management Limited staked shares worth N19.995 billion or 2.42 per cent. Cardinal Stone Securities Limited traded N19.734 billion

or 2.39 per cent, while Africa Alliance Stockbrokers Limited exchanged N18.388 billion or 2.22 per cent. Investment One Stockbrokers International Limited trailed with N16.957 billion or 2.05 per cent. In a bid to stimulate demand and engender competition in the stock broking community, the management of the Nigerian Stock Exchange (NSE) had in September 2011 introduced the ranking of the brokers by transaction value and volume. Market watchers identified low volume of transactions and liquidity as major challenges facing stockbroking firms in Nigeria. The President of Chartered Institute of Stockbrokers (CIS), Mr. Oluwaseyi Abe, said the biggest challenge facing stockbrokers was low participation and low liquidity in the market. “While the regulators and stockbrokers have been working hard to create new products

such as the Exchange Traded Funds, the buy side of the market remains weak, especially from the local end. Meanwhile, stockbroking firms have also had to grapple with spiraling costs arising from the recently introduced Minimum Operating Standards. Investor’s confidence is still low as a result of massive losses arising from the 2008 global recession, although this is being addressed,” he said. Following the low sentiment that has pervaded the nation’s bourse, total transactions decreased by 42.13 per cent from N155.85 billion recorded in June 2016 to N90.19 billion (about $0.29 billion) in July 2016. The recent report from the Exchange also showed that total transactions from January to July 2016 decreased by 44.38 per cent from N1,284.82 billion recorded within the same period in 2015 to N714.60 billion in 2016.

L-R: Minister of State for Mines and Steel Development, Abubakar Bawa Bwari; South African Minister of Mineral Resources, Mr Mosebenzi Joseph Zwane and Technical Adviser to the minister Mr. Linus Adie, at the China- Africa Mining Investment Partnership Forum in Tianjin, China.

Cement fallouts: Road contractors plan upward review of contract sums Dayo Ayeyemi

nless the Federal Government intervenes, contractors handling major highway projects in the country may commence upward review of their contract sums to reflect current cement price increase, New Telegraph has learnt. According to a source, the contractors are already planning to seek audience with the Federal Government through the Minister of Power, Work and Housing, Mr. Babatunde Fashola, before carrying out their threat. Contractors lamented that with 40 per cent increase in cement price, sums of contracts already awarded them when cement price was N1,700 may no longer be visible for implementation. Cement is a major construction material for roads and other infrastructure projects such as bridges, drainages and buildings. Cement price was suddenly increased two weeks ago by manufacturers from N1,600 and N1700 depending on locations, to N2,300, representing 35.29 per

cent and 40 per cent increases respectively. Speaking with New Telegraph in Lagos, Director, Federation of Construction Industry of Nigeria (FOCI), Mr.Fidelis Imoisilli, said that recent astronomical increase in cement price would affect the cost of road and bridge projects, especially contracts awarded before now. FOCI is the umbrella body for all construction companies in Nigeria. It members include Julius Berger Plc, Reynoid Construction Company, Dantata and Sawoe, CCECC, Cappa De’berto and other 120 major construction companies. Imoisilli said the new cement price increase had resulted in projects’ cost overrun in the construction sector, adding that members of FOCI are planning to go back to their clients (both federal and state governments) to let them know that upward review of contract sums is imminent. If this happens, this newspaper learnt that the cost of

ongoing road projects would go up astronomically in the face of nation’s on-going economic recession. Stating the implication of recent cement price increase on his sector, the FOCI director said it would slow down on-going projects and reduce the number of new ones to be awarded due to high cost. He said: “It will reduce number of projects to be awarded, it will also affect government’s spending. So the federal government must find a way to reduce cement price by talking to manufacturers.” Bemoaning slow pace of on-going major highways’ construction, especially the Lagos-Ibadan Expressway, Imoisilli said that members of his association have not been happy about it, attributing the delay to inability of the government to mobilise contractors financially. According to him, contractors on road projects currently just moved in to overhaul their equipment, which had been abandoned in the last

one and half years. He said: “We are not happy, the pace of construction work is slow and you know that our equipment and salary must run. We need to pay our employers, who have been out of jobs before now. Government owe contractors over N600 billion.” Just last week, block manufacturers under the auspices of the National Block Moulders Association of Nigeria (NBMAN) jacked up the price of sandcrete blocks by 40 per cent as a result of rise in cement prices. Consequenetly, the price of 90 by 120 inches block moved to N210.00 from N150.00, while sandcrete block of 60 x 90 inches is now selling at N185.00 instead of N130.00. Since the latest increase in price of cement and other building materials, contractors, real estate developers, landlords, tenants and accommodation seekers have not stopped raising posers over the implications on their sector.

WEDNESDAY, SEPTEMBER 28, 2016 NEW TELEGRAPH

FCT BUSINESS WATCH

ll hands are on deck in the quest to pull the nation from current state of stagflation (a situation more complex than recession). Rescuing the economy gasping for breath is a task for all. Regardless of one’s area of calling, suggestions on ways to solve the current economic challenges are not in short supply. Members of the National Assembly have not shied away either. They are sharply divided on whether selling of national assets as canvassed by some influential Nigerians, or a relax in the strict enforcement of Treasury Single Account (TSA), which will put more funds at the disposal of MDAs, could do the magic of unlocking an economy in tight grip of recession. But when it comes to dissenting Adeosun Emefiele views regarding the way forward for the economy, those expressed by key personalities in authorities are germane. However, recent suggestion by Nigeria’s Finance Minister, Kemi Adeosun, pre-empting the decision of Monetary Policy Committee (MPC), advocating downward review in CBN’s 14 per cent anchor lending rate (Monetary Policy Rate), went straight to the trashDivergent views on major key policy as recently expressed by the can. Unarguably, the minister of Minister of Finance, Kemi Adeosun, who represents the fiscal finance is the eagle eye of fiscal authority. As the chair of Finance authority, and the stance of Central Bank of Nigeria (CBN), the Ministry portfolio, Adeosun is custodian of monetary policy, point to lack of synergy between the saddled with the task of implementing fiscal policies designed two arms, which are in the forefront of pulling the economy out of to bring desired equilibrium and recession. ABDULWAHAB ISA reports spur economy growth. Ever since it became a public knowledge that members as independent body, to Addressing the media, CBN Nigeria’s economy slipped into re- look at boosting growth. Governor, Godwin Emefiele, explained that the committee’s cession, the finance minister has “As you know, the monetary decision was hinged on macro not relented in telling Nigerians ef- policy committee is meeting today, fort of government to quickly pull and my position has been, look this economic data available to it, and it out. These include government’s government is spending its way were guided by risks assailing the preparedness to spend its way out out of trouble, and that spending, economy. “Both monetary and fiscal auof recession, deploying funds in much of it is being borrowed. So if thorities have the interest of the the key sectors, most importantly, you increase the interest rate, you infrastructure. increase our cost of debt service,” country at heart. There was a time Perhaps, the minister’s disposi- she said. when the MPC took a decision not The arduous tion of having more funds spent as “In an ideal world, you need only to reduce the monetary rate, but also the cash reserves. These a way of countering the pangs of lower interest rates. I think when task of were intended to lower rates and recession largely shaped her views you are in a recession, you cut revamping the on the likely outcome of the deci- interest rate to stimulate activity. encourage spending by the private sion of the Monetary Policy Com- So, we would love to see the MPC sector. After we did that, because economy will mittee (MPC) of the Central Bank consider how it can help us lower we did not see the impact on the elude Nigeria, of Nigeria. The MPC is the high- interest rates. private sector, we needed to furest decision making organ of the “I do understand what they were ther reduce the CRR from 30.5% if the fiscal CBN. It meets bi-monthly to take trying to do, which is, they are tryto 25 per cent and about N1 trillion and monetary key decisions expected to shape the ing to manage inflation. Look at the was injected into the economy through the banks to loan this direction of the economy. structural nature of this inflation; authorities are it is unlikely to mainly respond to money. But rather than loan this Minister’s disposition to rates money, those credits went to tradmonetary policy initiatives. It’s working at cross ers who used them to demand for Every edition of MPC is unique, structural inflation.” purposes but the last edition was more Instructively, Adeosun, as the foreign exchange, thereby putting unique given the high expectation anchor person for fiscal policy, prepressure on the foreign exchange of its outcome. Financial experts fers a lowered interest rate that will market. and analysts had taken positions afford government to borrow from “Thereafter, we reduced CRR days to the two-day policy meeting domestic market at cheaper rate to to its current 22.5 per cent that is on likely key issues with focus on be able to implement projects. about N300 billion to N500 billion, anchor lending rate, which was but we said we were not going to allow the banks to have the cash trending at 14 per cent. There were MPC’s stance opinions regarding whether, conContrary to expectation that until they send proposals to the sidering the prevailing recession MPC will lower its rate in line CBN for primary agric projects, period, MPC members could be with prevailing mood, all the 10 real manufacturing projects and magnanimous with rate cut deci- members at the meeting voted in other types of projects that will sion. Yet, some experts predicted favour of retention of prevailing support industrial capacity and further rate tightening to counter rates at 14.00 per cent; CRR at 22.5 manufacturing output. I must inflation, while some settled for re- per cent; Liquidity Ratio at 30.00 confess that, the proposals that tention of rates. Nigeria’s minister per cent; and Asymmetric Winwe received were mainly for the of finance also joined in the fray. dow at +200 and -500 basis points purpose of refinancing the liquidSpeaking on Channels TV’s Sun- around the MPR. Consequently, the ity of the banks and thought that rise Daily a day to the MPC, Adeo- MPC members dashed the hope of that was not what we wanted. sun noted that she understood the Finance minister and other Nige“That is the reason we have been stance of the CBN monetary policy rians hoping to see a crash in the circumspect about releasing some on curbing inflation with higher in- rates. The autonomous status of of those liquidity. A very few of terest rates, but she wanted MPC the MPC came to play. them have submitted proposals

Need for monetary/fiscal policy coordination

for agric and new manufacturing projects that we will be considering in due course. “If you lower interest rate, what that will do is make it possible for the fiscal authorities to borrow at a lower rate. If they borrow at a lower rate to stimulate the spending, yes it will stimulate the demand for goods; when you stimulate spending by providing cash or money without taking action to boost industrial capacity, what will happen is that there will be too much money chasing too few goods, which will worsen the current inflationary situation we are in right now. “The option we want to adopt is that, while the fiscal is going ahead to spend, what we want to do is to say ‘maintain the rates where they are’, since we want to maintain a fairly tight situation, and since the tightening, we have seen inflow of FX of above $1 billion between July and now. These were used to procure raw materials, this will lead to price of goods moderating and growth of industrial and manufacturing capacity. We want to match the demand so that it does not lead to further inflationary pressure. We are working together to achieve what we want to achieve so that we don’t hurt the economy,” Emefiele said. Reactions Responses trailed the CBN’s ultimate decision to retain key rates. Speaking as a guest at the CNBC Africa programme last week, an economist, Dr. Ayo Teriba, faulted the banking watchdog’s action of consistent tightening of key indices for upward of six years. He said the CBN should have shifted its hard position by lowering the rate. In his view, CEO of Global Athletic, Tope Fasua, said the CBN decision was in order. He said contrary to impression, there was lots of liquidity in banking vault but banks were not lending funds to real sector. The way out, he said, “is not a quick fix, but comprehensive policy coordination between the fiscal authority and monetary policy.” He spoke last week as a guest at AIT’s Money Show. Also speaking at the same programme - AIT Money Show - last week, CBN’s Director of Monetary Policy, Dr. Moses Tule, defended the CBN’s decision. “The decision of MPC is not taken on populist demand, we don’t react to populist demand, rather, MPC decision is guided by macroeconomic data at members’ disposal. We are not just on recession, the economy is on stagflation. The MPC in July raised the red light on the direction Nigeria’s economy was heading, that the economy was heading towards recession,” he said. Conclusion Apparently, what transpired recently show a lack of policy coordination and harmony between the fiscal and monetary sides. The arduous task of revamping the economy will elude Nigeria, if the fiscal and monetary authorities are working at cross purposes. Time for proper policy coordination is now.

WEDNESDAY, september 28, 2016 NEW TELEGRAPH

BUSINESS |MONEY

With no end in sight to the acute scarcity of foreign exchange in the system, there is a growing consensus that the solution lies in the authorities implementing policies that will encourage investors to bring in lots of dollars into the economy. TONY CHUKWUNYEM writes

ver since the Central Bank of Nigeria (CBN) introduced a flexible exchange rate regime on June 20 this year and the attendant devaluation of the naira, ‘investor confidence’ has become a sort of buzz word in these parts. Reason: The apex bank had hinged its decision to abandon its long held naira peg regime and to float the local currency on the need to attract foreign capital inflows. It had stated then that although naira would initially weaken following the introduction of the new forex policy, it (naira) would gradually strengthen, as more investors would be encouraged to bring in dollars into the economy. However, three months after the policy was launched and despite additional foreign investor friendly measures taken by the regulator such as hiking interest rates as well as selling debt instruments at high yields, lack of liquidity in the interbank forex market has continued to impact naira, especially on the parallel market, where it has lost over 40 per cent of its value since June. The development led to sceptics questioning whether the expected foreign inflows would ever materialise and if the CBN would be able to sustain the policy. But it has, so far, stayed the course. Indeed, the banking watchdog took some analysts unawares at the end of its recent Monetary Policy Committee (MPC) meeting when it defied the call by the Minister of Finance, Kemi Adeosun, to cut interest rates. CBN Governor, Mr. Godwin Emefiele, said the Committee ignored the minister’s call and left rates unchanged because it felt that “there was the need to continue to encourage the inflow of foreign capital into the economy by continuing to put in place incentives to gain the confidence of players in this segment of the foreign exchange market. “Consequently, the Committee considers that loosening monetary policy now is not advisable, as real interest rates are negative, pressure exists on the foreign exchange market, while inflation is trending upwards.” Significantly, the CBN boss also revealed that approximately $1 billion in new capital flows had been attracted into the economy since July, the month that the MPC hiked interest rate from 12 to 14 per cent, while month-on-month inflation has declined continuously since May 2016. Afrinvest’s banking report It was thus against this background that leading investment

How Nigeria can revive investor confidence, by experts banking firm, Afrinvest West Africa Limited, last week, launched its 2016 Nigeria Banking Report, which had the apt them: “Searching for investor confidence.” Clearly, the event made headlines because of the array of experts that showed up and the topic they discussed: “What needs to be done in the face of macroeconomic challenges in order for Nigeria to regain ‘investor confidence’ and put its economy back on the path of growth and prosperity?” Apart from the Group Managing Director/Chief Executive Officer, Afrinvest, Mr. Ike Chioke, also present at the launch were the former Governor of the Central Bank of Nigeria (CBN) and the Emir of Kano, Lamido Sanusi, the Chairman, First Bank of Nigeria Limited, Mrs. Ibukun Awosika, the Executive Director/Chief Financial Officer, Sterling Bank, Mr. Abubakar Suleiman, Professor of Political Economy, Pat Utomi, the CEO, Economic Associates, Dr Ayo Teriba and Executive Director, Personal Banking Division, Access Bank, Mr. Victor Etuokwu. Professor Utomi said for the country to attract investors: “Government must be responsive to signals and not let things go out of hand before seeking solutions.” He reiterated that what the country needed were not strong men but strong institutions, adding: “the leadership must show a clear game plan, with critical elements of industrial policy in areas of competitive advantage.” In his remarks, Sterling Bank’s CFO, Mr. Suleiman, stated that while the authorities should implement policies that would attract foreign investors, they should also encourage local investors. Suleiman said: “It is also important that you encourage Nigerian investors and discourage them from taking their investments outside the country. It is only when Nigerian investors are investing in the country that their foreign counterparts would have the confidence to want to invest in the country.” He also stressed the need for the country to have what he described as a: consistent “national story” that would be told by Nigerians from all sectors of the economy. The Sterling Bank ED stated that in order not to discourage foreign investors, the country must ensure that it always plays by the rules whenever it decides to operate on the global stage. “It is a choice you make when you decide to operate on the global stage, but when you make this decision, you must play by the rules,” he stated. However, Dr. Teriba said while foreign investors were important, the country must be clear on the kind of investors it was looking for. He said: “We have been obsessed with export income and portfolio investors. The latter, especially, is very volatile. It is wrong to depend on export income and portfolio inflows to the exclusion of other types of inflows.” According to him: “We must

Utomi

Government should create a level playing field for both Nigerian and foreign investors

Suleiman

learn from India that relies heavily on Diaspora remittances, which are directly invested on sovereign assets, thus providing needed foreign exchange. We must broaden the focus, not only on foreign investors, but also with confidence building policies, to attract the Diaspora.” Similarly, the Emir of Kano and former CBN Governor, Sanusi, emphasised that government should create a level playing field for both Nigerian and foreign investors. He said: “We have to get to a point when we welcome investors of all nationalities, who are willing to set up production plants here to turn our own raw materials into finished goods. Rwanda and Ethiopia, have all done that very well. There is nothing we are saying that haven’t been done by other African countries. We need to go into investment-driven model. China has grown into investment-driven model. Nigeria needs to move into investmentdriven model.” Significantly, the former CBN governor threw his weight behind the MPC’s decision to retain interest rates in defiance of the call by the Minister of Finance, Mrs. Kemi Adeosun, for a rate cut. “When the fiscal authorities and many people in the private sector said they wanted a lower interest rate, I was concerned that the Central Bank would succumb to pressure. The fact that the Central Bank did not, shows it is beginning to reclaim its independence,” he stated. In his remarks, Access Bank’s Executive Director, Victor Etuokwu, argued that the country currently does not have a structured plan or framework that investors can draw much confidence from. According to him, the posture of the country’s leaders holds the key to attracting both foreign and local investment. Foreign portfolio investment Interestingly, however, some financial experts, including MPC members, have warned that for-

eign portfolio inflows alone may not bolster naira. For instance, in their personal statements at the July MPC meeting, Professor Chibuike Uche and Dr. Adedoyin Salami, said they voted against a rate hike at the meeting because there was no guarantee that foreign inflows will bolster the naira. Professor Uche said: “To tighten monetary policy with the main objective of attracting foreign portfolio flows will be a major policy error. This is because history teaches us that unless foreign capital inflows are deployed to the real sectors of our economy, their impact on stabilising the exchange rate of the naira are at best temporary. Given our current precarious economic situation therefore, I am convinced that it would be an error to continue to allow unhindered inflow of speculative capital into our economy.” Also, Dr Salami contended: “Whilst it is tempting to conclude that at the very least the naira’s weakness might be halted by raising the Monetary Policy Rate (MPR), I am not convinced this will happen. …In my view it is unduly optimistic to expect international investors to be attracted to Nigeria until policy credibility and consistency is not only restored but also successfully maintained.” Conclusion A top banker, who did not want to be named, said he was not paying much attention to the debate about how the country can rekindle foreign portfolio inflows, but the question is why did they (investors) flee in the first place? He said they left because they saw that the CBN was not allowing the market to determine the naira’s official exchange rate. So, have things really changed? Investors don’t like uncertain situations where people manipulate systems; they prefer the certainty of the market. Until Nigeria starts allowing market rules to determine how things are done here, investors will stay away, the banker said.

BUSINESS |MONEY

WEDNESDAY, september 28, 2016 NEW TELEGRAPH

ADVOCATE All hands on deck to revive economy

Tony Chukwunyem

inancial experts have again harped on the need for effective coordination between monetary and fiscal authorities in the country. The analysts who spoke against the background of the Central Bank of Nigeria (CBN)’s rejection of the Minister of Finance, Mrs Kemi Adeosun’s call that interest rate should be cut, stressed that the fiscal and monetary authorities needed to be seen to be working in tandem if the economy was to pull out of recession in the next one to two years. An Analyst at Berta Investments Ltd, Mr. Ben Chukwuma, said: “Although it is nor mal for central banks and the finance ministers to regularly disagree, the call by the finance minister for interest rate to be cut and the CBN’s rejection of the call came as a surprise

Experts stress need for monetary, fiscal policy coordination to me. This is because the economy is in a recession; everybody knows how difficult things are and we assumed that both the finance minister and the central bank governor have been meeting regularly with the President to design a strategy that will quickly get the country out of this rot. “That the minister made that call on a TV station on the eve of the interest rate decision shows that her office is not coordinating effectively with the central bank,” he stated. Chukwuma noted that while the minister was right to seek a cut in interest rates to make it cheaper for government to borrow domestically to fund critical projects, she should have been

conscious of the concerns that the CBN would have with the idea, especially as it relates to defending naira and curbing inflation. According to the investment banking group, Afrinvest, it is critical for countries like Nigeria seeking to attract foreign investment to have their fiscal and monetary authorities coordinating effectively. As the firm put it in its 2016 Nigerian Banking Report: “We think there is an urgent requirement for the economic managers to reorganise recent policy actions to ensure both fiscal and monetary policies are in harmony. More importantly, efforts must be put in place to ensure policy actions are prudent, predictable and

consistent going forward.” It further recommended a complete liberalisation of the foreign exchange market, adding that the Central Bank of Nigeria (CBN): “Needs to consciously ensure regulatory consistency and stay the course of its new FX framework to regain lost credibility and boost confidence among investors.” It will be recalled that the CBN’s Monetary Policy Committee (MPC) had in the Communique it issued at the end of its recent meeting when a hold decision was taken regarding key monetary instruments, called for more collaboration between fiscal and monetary authorities. The communiqué recommended a monetary-fiscal

policy retreat, which would design a comprehensive intervention mechanism that would enable the country to pull out of recession. Interestingly, commenting on the proposal for a monetary-fiscal policy retreat, respected Economist and Analyst, Dr Boniface Chizea, said: “It is my considered view that this proposed retreat is needful and urgent and should be put on the front burner to facilitate the attainment of clarity of positions, to reach an agreement on the best policy mix going forward, which is badly needed as the country continues to groan under the throes of product market challenge as well as failure of policy which has resulted in the current recession.”

S&P affirms IDB’s ‘AAA’ rating

L-R: Christy Enajeroh, Ini Onuk, Head SME Banking, Unity Bank Plc, Opeyemi Ojesina, Publisher Genevieve Magazine, Betty Irabor, Convener & Founder, Amazing Amazon Initiative, Mercy Makinde, Actress Omotola Jalade Ekeinde and Head Corporate Communications, Unity Bank Plc, Matthew Obiazikwor at the Lagos & the Woman Conference recently held in Lagos.

he Islamic Development Bank (IDB)’s ‘AAA’ credit rating was reaffirmed with a “Stable Outlook” by Standard & Poor’s (S&P). The ratings and the stable outlook are driven by the extremely strong financial profile and very strong business profile. This is the 15th consecutive year that IDB is assigned the ‘AAA’ rating by S&P, the bank said in statement. According to the statement: “The IDB remains amongst the most highlyrated Multi-lateral Development Banks (MDBs) and the highest in the Muslim world. The ‘AAA’ rating enhances the Bank’s financial capacity to fulfill its development mandate and play a leading role in the development of the Islamic Finance Industry. The IDB is a Multilateral Development Bank established in 1973G with the purpose of fostering economic development and social progress of its Member Countries and Muslim Communities in non-member countries in accordance with the principles of Islamic Finance. President of the IDB Group, Dr. Ahmed Mohamed Ali, congratulated all member countries, IDB Board Members and the staff for the excellent achievement. He renewed IDB’s commitment to exert maximum efforts to realize the objectives of the Bank’s 2020G Vision and aspirations of its Member Countries.

New Sukuk issuance subdued, says Moody’s

he issuance of new Sukuk has remained subdued during 2016, but a new report by Moody’s Investor Service says the Islamic finance sector is still on a strong growth path. Moody’s report, entitled: “Islamic Finance; Prospects Remain Strong Despite Subdued Sukuk Issuance,” states that growth in the Islamic banking sector continues to broadly outpace that of conventional banks in most systems in which Islamic banks have been established. “This is driven by strong retail demand and proactive government legislation for the industry,” Global Head of Islamic Finance at Moody’s, Khalid Howladar said. Moody’s states in the report that the Islamic Finance sector also has potential for further growth,

especially in countries in which the penetration of Islamic banking assets remains relatively low, at between five per cent-10 per cent of Islamic financing assets. Over the last three years, Oman’s Islamic banking sector, for example, has gone from zero to an aggregate of around 10 per cent of banking system financing assets as of June 2016, compared to Indonesia and Turkey, which have both taken over two decades to reach around 5 per cent of banking system financing assets. However, according to the study, the governments of these countries have recently taken initiatives to boost the growth in the sector over the next 10 years. While new Sukuk issuance volumes in 2016 are expected to remain flat, at around $70 billion, the rating agency says that the longer-term out-

look remains promising. “Subdued issuance volumes in 2016 were mostly driven by reduced shortterm borrowing by the Malaysian government, one of the largest Sukuk issuers globally, as well as the drive of the GCC governments to tap conventional sources of liquidity, which has reduced the attractiveness of the Sukuk format,” Assistant Vice President -Analyst at Moody’s, Nitish Bhojnagarwala explained. “However, we expect increased Sukuk issuance into 2017 from sovereigns, banks and corporates in the Gulf, as regional financing needs increase amid lower oil prices.” Growth in the Islamic insurance (Takaful) sector is also slowing, according to the report, but the rating agency expects it to remain at double digit levels into 2017 and for gross

contributions to reach $20 billion by 2017. “Complex regulation, as well as compliance and operational challenges have slowed growth in the Takaful industry,” Assistant Vice President -- Analyst at Moody’s Insurance team, Mohammed Ali Londe, said. “Growth has broadly slowed to below 15 per cent in 2015 in most key markets. Globally, year-on-year growth stayed just below 20 per cent in the past couple of years due to large premium increases in the Saudi market in 2015 of around 19 per cent.” Overall, the persistent efforts by the government agencies and central banks, combined with retail customer demand, is driving growth in all these markets and Moody’s expects this trend to continue well into the next decade.

WEDNESDAY, september 28, 2016 NEW TELEGRAPH

BUSINESS | Investor

Recession: Time to boost commodities exchanges This is the time to reposition Nigeria’s commodities exchanges, which plays a central role in facilitating economic development. CHRIS UGWU writes

Gwarzo noted that Nigeria ranks number one in global export rankings for commodities such as kolanut, shea nuts and shea butter, cassava, and yams. “We also feature in top exporters for other commodities such as cocoa, rubber, oil palm, cashew and sesame seed. Our ginger is reputed to possess the best aroma in the international markets. Export opportunities also exist for a wide variety of other agricultural commodities. This simply magnifies the potential of our agricultural sector to contribute significantly to economic growth and development,” he said.

n the 1960s, the agricultural sector was the most important in terms of contributions to domestic production, employment and foreign exchange earnings. The situation remained almost the same three decades later with the exception that it is no longer the principal foreign exchange earner, a role now being played by oil and gas. The sector remained stagnant during the oil boom decade of the 1970s and this accounted largely for the declining share of its contributions. According to National Bureau of Statistics (NBS), the trend in the share of agriculture in the Gross Domestic Product (GDP) shows a substantial variation and long-term decline from 60 per cent in the early 1960s through 48.8 per cent in the 1970s and 22.2 per cent in the 1980s. Unstable and often inappropriate economic policies (of pricing, trade and exchange rate), the relative neglect of the sector and the negative impact of oil boom were also important factors responsible for the decline in its contributions. However, currently the reverse is really becoming the case, as the decline in the oil prices is currently affecting the economy and the government is looking for a way to boost non-oil revenue in the country. According to reports, with oil prices plummeting by nearly 60 per cent, the effect of the global slump has seen Nigeria’s oil export receipts decline dramatically, and indigenous firms have faced a scale back in proposed Joint Ventures with IOCs, deeper cuts to capital spending, finding new markets to counter US reluctance to buy, investor wariness, and critically, higher lending local terms due to a weakened naira. And as the Nigerian economy slips further into recession, there is need to scale agribusiness to get out of the current economic doldrums. This is the reason why there is need to boost non-oil revenues, one of which is reviving the country’s commodity exchange to encourage agriculture and also offer investors opportunities not only in the equity side but across the various asset classes. Industry stakeholders believed that this is the time for the country to rely on non-oil revenue, noting that the dwindling oil revenue should be used to drive the growth of agriculture in the nation. This will also enable investors to diversify their portfolios across different assets classes to mitigate risks.

SEC building

Benefits of commodities exchanges Commodities investing were first restricted to the trade and exchange of commodities meant for regular and day-to-day use. However, the awareness in the subsequent stages has brought all sectors into the manifold of commodity investing and has enabled speedy movements, transfer and transaction of goods and services in most of the advanced countries. Explaining the objectives of Commodities Exchange, aside helping to deepen the activities of the capital market with the introduction of new products, Managing Director, Crane Securities Limited, Mr. Mike Eze, said that it will increase the earnings of the producers by reducing the effects or price volatility, provide a basis for risk management and serve as mechanism for effective pricing. The benefits of a commodity exchange include market price discovery as well as access to information concerning commodities traded on the commodities Exchange, which are available to brokers in advance of trading i.e. quality, location and time of delivery, thus facilitating pricing. The futures markets help to determine the best current prices. All bids and offers are aggregated and the prices at which the trades are executed, determine the best, current market price. In addition, the prices are publicly disseminated and therefore provide an easy way to determine a product or instrument’s fair price. Another benefit of the commodities exchange, as enumerated by Eze, is that just as in banks and stock markets, the commodities exchange is essentially an institution for mobilising investment, through the activities of hedges and speculators. “The speculators in the commodity exchange risk their capital in the expectation of making profit. By supplying the capital, the speculators help to create liquidity in the market,” he said. According to the Chief Executive Officer, Modus Market Concepts Limited, Mr. Brian Ojukwu, “as an investor, your chances of risks are very less if you choose to invest in commodity. Therefore, the gains from commodity investing will be helpful for you to balance other losses

Commodities exchanges play a central role in facilitating economic development, especially by helping farmers to enhance their marketing and risk management capacity

due to other financial instruments in your portfolio. The chances of risks are lower because commodity investing primarily deals with diverse items. Moreover when the contracts are entered for a future date at the current time you can exercise reasonable care and see to it that the chances of risks are reduced or nil”. Ojukwu noted that the performance of commodity market could be monitored by analysing the performance of bond and share market because in most cases a commodity market will perform well when the others don’t perform and vice versa. He said it is possible to easily predict the prices and make the contracts by considering the ups and downs in other markets, which, according to him, a prerequisite for this is that the assets in the commodity market should not be correlated with the stock and bond market. Essence of commodities market Director General of SEC, Mounir Gwarzo, said that as Nigeria pursues policies aimed at diversifying the economy, it is becoming clearer that commodities exchanges can play a crucial role in actualising the objectives. According to him, a detailed empirical study by the United Nation’s Conference on Trade and Development (UNCTAD) analysed the impact of commodities exchanges on development in emerging markets. Gwarzo explained that countries that were part of the study are also emerging countries with the most vibrant commodities markets such as India, Brazil, China, Malaysia and South Africa. He said among the many insights in study’s report is the fact that commodities exchanges play a central role in facilitating economic development, especially by helping farmers to enhance their marketing and risk management capacity such as reducing their exposure to price and other production risks. “For Nigeria, developing the commodities market could prove even more critical. With the policy thrust of the federal government to encourage investments in the agricultural and solid minerals sectors, now more than ever all hands must be on deck to develop a commodities market that can support these policy objectives,” he said.

Current initiatives In a bid to boost agriculture and promote commodity exchange in Nigeria, the Securities and Exchange Commission (SEC) recently said it was set to roll out various initiatives to provide an enabling environment for commodities trading in the country. Already, the Commission is reviewing the Warehouse Receipt Bill currently before the National Assembly and has assured that it will actively advocate its passage. This is in support of the policy thrust of the Federal Government to encourage investments in the agricultural and solid minerals sectors in a bid to ensure economic diversification and deepen capacity across the agricultural value chain. Gwarzo said this while delivering a keynote address at a training seminar organised by Africa Exchange Holdings (AFEX) on Commodity Trading and Risk Management in Abuja. He said the 10-year capital market master plan, which the market is currently implementing is the blueprint for the growth and development of the market over the next decade and acknowledges commodities exchanges as critical for enabling investment diversification, risk management, price discovery and transactional efficiency. He expressed strong belief that to boost Nigeria’s competitiveness, a thriving commodities trading ecosystem must be developed. The DG said: “We believe this can be achieved by implementing the following strategic initiatives: Build a supporting and functional ecosystem for commodities trading. “Others are: Build Centre of Excellence in areas of comparative advantage such as for oil & gas, cocoa, etc. Develop efficient commodities exchanges and trading platforms, Sponsor legislation to ensure Nigeria’s crude oil sales are traded on local exchanges and build capacity in commodities trading at the SEC and among market operators”. The DG said that considering the important role commodities exchanges will play in advancing Nigeria’s economic diversification goals, the capital market community has taken steps to prepare the stage for vibrant commodities exchanges to emerge in the country. Conclusion To have viable commodities exchanges is particularly critical now, given the increasing emphasis on agriculture, especially now that Nigeria’s economy has slipped into recession.

WEDNESDAY, SEPTEMBER 28, 2016 NEW TELEGRAPH

MARITIME

Rice seized by the Nigeria Customs Service and stacked at government ware house, Ikeja, Lagos. Inset: Hameed Ali

As the Federal Government conclude plans to suspend rice importation in 2017, fact has emerged that 57.51 per cent of the product that entered the country in the last eight months were smuggled. BAYO AKOMOLAFE reports

Seizures ecently in Ebonyi State, the Minister of Agriculture and Rural Development, Chief Audu Ogbe, said that Nigeria was importing $6 million rice daily, meaning that the country spent N441.77 billion ($1.47 billion) on the import between January and August 2016. Similarly, the Nigeria Customs Service said that it seized rice valued at N598 billion through the Seme, Idiroko, Cameroon, Jibya and other borders and creeks within the same period. The seizure was 57.51 per cent when compared with normal imports coming through the ports. It was learnt that the value of the commodity seized during the period was N267.2 billion higher than N330.5 billion in the same period in 2015. In July 2016, the service said that its anti-smuggling units confiscated 13,328 bags of rice in Ogun borders alone apart from other illegal routes in Lagos, Oyo, Cross River, Katsina, Sokoto and Kwara states. According to NCS’ Public Relations Officer, Mr. Wale Adeniyi, a deputy comptrol-

57% of rice in Nigerian markets smuggled ler, the increase in the seizures was an indication that the customs was operating zero tolerance to illegal importation of rice. He noted that the service’s relationship with its counterpart in Republic of Benin had helped to facilitate the spate of confiscation of the commodity along the borders of both countries. Adeniyi said: “Our seizure on rice from January to August 2016 was N597.7 billion as against N330.5 billion during the same period in 2015. This shows a huge increase; the number of seizures from the statistics shows that smugglers now know that it is no longer profitable to bring in rice through the borders.” According to him, since importation of rice has been restricted to the ports, smugglers with one bag of rice are being arrested; particularly those using motorcycles, donkeys and even small vehicles. He said: “After the meeting we had with our colleagues from the Republic of Benin, we went all out on zero tolerance on importation of rice.” Implication Just recently, the Comptroller General of the service, Hammed Ali, said that the service had lost 70 of its officers in various battles with smugglers along the Idiroko and Seme border areas with Benin Republic. To further curb the menace of smuggling in the creek, it

Recently, the Seme Area Command of the NCS impounded 12 trucks laden with 2,131 bags of 50 kilogrammes rice with a Duty Paid Value (DPV) of N23.9million

was learnt that the service sealed an interagency collaboration between its Eastern Marine Command and the Eastern Naval Command of the Nigeria Navy. This led to the seizure of two boats laden with smuggled rice on the Calabar sea in Cross River state by the navy. The commodity was intercepted between the Cameroon and Nigerian border. The naval command said that the smuggled rice was carefully concealed in two boats. Eight Cameroonians and 13 Nigerians were arrested in connection with the commodity. The Customs Comptroller General expressed gratitude to the Chief of Naval Staff, Rear Admiral Ibok-Eke Ibas, for the commitment and inter agency cooperation exhibited by his officers in the arrest of the two boats. Recently, the Seme Area Command of the NCS impounded 12 trucks laden with 2,131 bags of 50 kilogrammes rice with a Duty Paid Value (DPV) of N23.9million. The imported rice was reportedly smuggled through Ere-creeks, bordering Lagos and Ogun states. Customs Area Controller of Ogun Command, Comptroller Waindu Multafu, who decried the unpatriotic attitude of smugglers making rice smuggling a matter of life and death, noted that there were many creeks around the borders used by

smugglers with small canoes to transport rice across rivers. Multafu explained that rice was the most smuggled commodity in the state because of the financial benefits accruing to the smugglers. According to him, people smuggle rice to avoid payment of Customs duty. He added: “There is no place in our warehouse to store rice again. We are making efforts to dispose the ones we have in the warehouse. We made seizures of vehicles and motorcycles daily. They used the kind of vehicle that can carry 80 bags of rice.” Hazards He noted that officers had been attacked with machetes in the state. The controller stressed: “Once in a while, if it happens that we are on the defensive, we have to use our guns. “Idiroko is the most notorious of border posts in West Africa. I cannot say how many of our officers were killed right from Seme up to Idiroko and Imeko.” The controller said that Ohunbe, Oke Odan and Ilase were some of the notorious places located along the road to Ajilete. Conclusion There is need for government to encourage mass local production of the commodity by encouraging farmers with loans and equipment.

BUSINESS \ MARITIME

WEDNESDAY, SEPTEMBER 28, 2016 NEW TELEGRAPH

Customs get N453m from ailing Lilypond terminal DOWNTURN

The volume of cargoes coming into the terminal has dropped by 90 per cent due to current economic recession.

L-R: Minister of Transportation, Rotimi Amaechi, presenting a letter of appointment to the Chairman of Governing Board of the Nigerian Maritime Administration and Safety Agency (NIMASA), Major Gen. Jonathan India Garba, during the inauguration in Abuja.

Bayo Akomolafe

igeria Customs Service has generated N453.51 million revenue for the month of August 2016 at Lilypond Container Terminal, Ijora in Lagos. Figures released by the Tin Can Island Customs Area II Command revealed that the revenue was N78.30 million less than the N531.81 million recorded in July 2016. The amount was N74.78 million lower than the N528.3 million realised for the corresponding month in 2015. The July revenue was N129, 516 million lower than the N661.3 million generated in June, 2016. Between January and May this year, the command generated N1.6 billion. Its Area Controller, Abdulkadir Dalhatu, attributed the drop in revenue to the low volume of containers at the terminal, occasioned by low import activities at the ports.

New Telegraph’s investigation revealed that the volume of cargoes coming into the terminal had dropped 90 per cent due to current economic recession in the country. The terminal was concessioned to Lilypond Container Depot Nigeria Limited (LCDNL) in 2006 by the Federal Government for a period of 10 years, but it is currently operating below capacity. Strategically located four kilometres from the Lagos Port, the container terminal provides a capacity of 7,000 Twenty Equivalent units (TEUs) and space of 120,000 square metres.

Dalhatu explained that the command was taking measures to attract more cargoes to boost its revenue. He listed the measures as including training and retraining of personnel, blockage of revenue leakages and engaging stakeholders on how they could be served better. He added that the recent redesignation of the command as Tin Can Island II from the old Lilypond Area Command was another strategy to make stakeholders patronise the terminal. Already, the concessionaire has invested

N3 billion to upgrade the terminal in the areas of safety, capacity building, equipment and Information Communication Technology (ICT). All the equipment are however, idle. In 2013, the concessionaire considered the option of winding up its operation after losing over N500 million due to inactivity caused by low container volume. However in 2014, the Nigerian Ports Authority (NPA), Bureau of Public Enterprises (BPE) and Nigeria Customs Service (NCS) and other stakeholders intervened to ensure that the company did not fold up.

AP Moller-Maersk Group splits •Moves top executives

shipping conglomerate, AP Moller-Maersk Group, has split into marine transport and energy businesses, following economic downturn in both sectors. The group said in a statement that the company’s objective was to find a solution within 24 months to its challenges. It noted that its main growth focus was to move forward as the world class transportation and logistics services. The group had said in June 2016 that it was considering splitting into different companies. Maersk Line is currently facing a depressed shipping market that has been weighed down by overcapacity and sluggish global trade, while Maersk Oil has had to cut staff as a result of fall in oil prices. It added that the businesses would require different solutions for future development including separation of entities individually or in combination.

Its Chairman, Michael Pram Rasmussen, explained: “The industries in which we are operating are very different, and both face very different underlying fundamentals and competitive environments.” He said that separating the group’s transport, logistics, oil and oil-related businesses into two independent divisions would enable both to focus on their respective markets. As part of the restructuring, Maersk said that the Head of Drilling, Claus Hemmingsen, would become chief executive of the energy division, while Group Chief Financial Officer, Trond Westlie, would be replaced by Jakob Stausholm, who currently heads up strategy at Maersk Line. The statement added that Maersk Oil’s Chief Executive, Jakob Thomasen, and APM Terminals Chief Executive, Kim Fejfer, would both step down. It stressed that the new CEO of APM Terminals would be

Morten Engelstoft. His appointment is effective November 1, 2016. The statement added: “Kim Fejfer, currently CEO of APM Terminals and Executive Board member in the Maersk Group, will take up a new role related to A.P. Moller Holding. It added; “The new CEO of Maersk Oil will be Gretchen Watkins, current Chief Operating Officer in Maersk Oil. Grethen Watkins will take up the role as CEO of Maersk Oil effective October 1 2016. “Jorn Madsen has been appointed CEO of Maersk Drilling. Jorn Madsen is currently CEO of Maersk Supply Service, a role he has held since 2015. He will assume his new position after a replacement is named as CEO of Maersk Supply Service. “Christian M. Ingerslev has been appointed CEO of Maersk Tankers taking effect as of November 1 2016. Christian has since 2014 been CCO of Maersk Tankers.”

Minister tasks NIMASA, NPA on managerial policies

he Minister of Transportation, Rotimi Amaechi, has tasked the boards of Nigerian Maritime Administration and Safety Agency (NIMASA) and Nigerian Ports Authority (NPA) to position operational administrative policies in accordance with government’s policy aimed at assisting the agencies achieve their mandates. Also, he warned NIMASA against the misuse of Cabotage Vessel Financing Fund (CVFF) believed to have been accumulated to the tune of over N50 billion. Amaechi gave the warning in Abuja while inaugurating the governing boards of NIMASA and NPA. The NPA board is chaired by Emmanuel Adesoye while NIMASA is chaired by Major-Gen. Jonathan Idia Garba (rtd). The minister noted that NIMASA’s two broad mandates was to promote the development of indigenous commercial shipping capacity in the international and coastal shipping trade, regulate and promote maritime safety, security, marine pollution and maritime labour. The minister said: “I doubt if NIMASA is doing that but I hope it starts doing that soon. I am not sure that NIMASA in the past complied with the Cabotage Act. “The last administration in NIMASA virtually spent all the money. The money in the cabotage fund is not for NIMASA to build universities or maritime faculties in universities but to improve shipping activities.” Also, Amaechi charged the two boards to measure performance against targets and introduce broad policy measures that would curtail deviations and ensure targets were achieved. He advised the boards to foster harmonious working relationship with the management of the agencies to achieve set goals and adhere to principle of zero tolerance for corruption. Responding on behalf of NIMASA board, Major-Gen. Garba said that the board would realise its outlined objectives.

BUSINESS \ MARITIME

WEDNESDAY, SEPTEMBER 28, 2016 NEW TELEGRAPH

Policies, infrastructure deficit at ports worry stakeholders SOLUTION Cargo diversion to neighbouring countries should be addressed by the Presidency

Bayo Akomolafe

takeholders have said that poor government policies and huge infrastructure deficit in the port sector are the major challenges facing the maritime industry. Also, they said that lack of appropriate infrastructure for cargo clearance had hindered smooth business operations at the ports. President, Ship Owners Association of Nigeria (SOAN), Greg Ogbeifun, said these at a maritime forum in Lagos. He explained that the railway lines, Apapa access roads and internal routes were nothing to write home about. The president added that containers were falling daily, while shippers were losing millions of dollars to accidents and long man-hour wasted on the road. Ogbeifun also said that the multiplicity of regulatory agencies at the ports was making cargo clearing tedious and more challenging, adding that it had forced some shippers to opt for neighbouring countries. He said that the effect of diversion of cargo to neighbouring countries should be addressed by the Presidency.

L-R: Chairman, Dubai Port World, Sultan Bin Suylaem, receiving a plaque from Managing Director of Nigerian Ports Authority (NPA), Hadiza Bala Usman at the Authority’s head office in Marina, Lagos.

Also, the Executive Director, Sifax Haulage, Henry Ajetumobi, said that Nigeria was aspiring to be Africa’s maritime capital but had refused to work towards making the dream a reality. According to him, “every nation of the world has hopes and aspirations to be great, but you must work for it. We have what is required to be great but we have not harnessed what we have that are expected to lead us from the level of potential to reality. “Our maritime standing

is like our football aspirations in this nation. Look at our population. Why do we find it difficult to select just 11 good players out of how many millions? “Something is wrong with us. Something is wrong with our attitude, and if we do not get that attitude problem right, we will have problem with altitude. “We are a coastal nation does not mean that we are a maritime nation. We have the gift of nature with waters around, but we have not done anything about it.

We don’t have a single deep ocean going vessel in this country.” President, Shippers Association Lagos State (SALS), Jonathan Nicol, said that the policy failure of the government had wrecked more havoc on maritime businesses in the country. He said: “Our system is just a very complex system where the government will wake up in the morning without any notice and distort the peace in the maritime sector. “The reason why we are having all these problems

Agents laud operator as Lagos terminal eliminates touting

ustoms agents operating at Tincan Island Port have lauded the newly off dock roll on roll off terminal created at Okota in Lagos by the Port and Cargo Handling Company Limited for its efficient vehicle releasing process. They said that the company had succeeded in eliminating touting through its qualitative service delivery. At a stakeholders’ meeting in Lagos involving SIFAX Group, customs agents and the Nigeria Customs Service (NCS), the agents said that the company’s efficient service delivery and swift resolution of complaints had prompted them to patronise the terminals since the beginning of its one-stop-shop vehicle importation services.

In a statement by the Group Corporate Affairs Manager, Muyiwa Akande, a customs agent, Mr. Osho Saheed Olamilekan of SIKAD Golden Company, said that the management of the terminal had a superb listening ear to agents. He said that the company promptly addressed the challenges encountered during the course of the vehicle releasing process. Also, the Chief Executive Officer of Blueplanet Services, Mrs Ebere Ojeogwu, said that the company had eliminated the scourge of touting. She explained that there was nobody that would visit the terminal and not fall in love with it. She said, “Our vehicles are released to us in the possible best condition because the

terminals are properly secured. “Agents do not need to stay hours here before getting our vehicles released. There is also no reason for lobbying as we are being attended to in a most professional manner.” On his own part, Mr. Adetayo Oluwafemi Olajide of Kodyke Ventures, said: “I can categorically say on behalf of other agents that this terminal is the best we have witnessed so far as long as RoRo service is concerned. “Billing, manifest, releasing have been wonderful here. Customs and other agencies are very supportive too and we are just so glad coming to this terminal to clear our vehicles.” The General Manager, SIFAX RoRo Terminals, Mr. Saheed Lasisi, noted that teething prob-

lems such as delay in manifest, billing and insufficient releasing officers, among others, had been addressed by the company. He said: “Superb customer service and excellent human relations are our watchword here in SIFAX Group. We have built all our brands on these core values and that is why we were able to quickly overcome the challenges we had in the first one week of vehicle releasing. “To further improve our service delivery, we have added more releasing officers, we are also liaising with Customs to bring in more officers, our Navision software capacity is being expanded and we have provided a platform whereby we will regularly interface with the agents in a bid to satisfy them very well.”

today is because of policy failure from government. It does not happen like that in other ports. “As shippers, we are the providers of cargo but I must tell you that it is a sad story today that even the shipping lines don’t have anything to carry.” Nicol expressed worries over delay of cargoes during the process of verification and certification. He urged the government to liberate the sector and relax some of the stiff policies forcing shippers out of the country.

Vehicles imports drop by 25%

igerian ports have lost large volume of vehicle to the neighbouring Cotonou and Lome ports. According to the Operations Manager at Ports and Terminal Multiservices Limited (PTML), Mr. Jack Angrish, the current high exchange rate and government’s auto policy are responsible for the problem. Angrish explained in Lagos that most vehicle seats in the country were empty due to the inability of importers to access forex. He noted that vehicle importation had reduced from 30,000 to 8,000 in the last six months. Angrish added that some terminal officials had lost their jobs this year. The operations manager said: “It is very unfortunate that the loss of Nigeria in terms of revenue on vehicle imports has continued to be the gains of the neighbouring ports of Cotonou and Lome.” Angrish said that cars were being smuggled in and the revenue going to ports of Cotonou and Lome. He said that Nigerians would have to make do with the available cars until the exchange rate improves.

WEDNESDAY, SEPTEMBER 28, 2016 NEW TELEGRAPH

Literature

Arts

Trapped in dialectics of contrasts, contradictions

Celebrating Onobrakpeya, culture

Tony Okuyeme

enultimate Thursday, global law firm, Hogan Lovells hosted an art exhibition to showcase the artwork of one of Africa’s most respected artists, Professor Bruce Onobrakpeya, in association with the Lagos Court of Arbitration (LCA). Onobrakpeya, who pioneered the famous modern art movement, Zaria Rebels, alongside Yusuf Grillo, Demas Nwoko and Uche Okeke, is also a master at creating art techniques, which showcase Nigeria’s rich culture and heritage. The exhibition, themed “Harmattan Workshop” was held at the Lagos Court of Arbitration following a press briefing with Hogan Lovells Africa team including their head of Africa, Andrew Skipper, the President of the Lagos Court of Arbitration, Yemi CandideJohnson, Professor Bruce Onobrakpeya, and the curator of the exhibition, Sandra Obiago. Hogan Lovells, having been active in Africa for decades and a keen supporter of African art and culture, sponsored the exhibition which runs till Dec 15 2016. Commenting on the global firm’s interest in Nigerian Art, Head of the Africa practice Hogan Lovells and Advisory Board member of the Smithsonian National Museum of African Art, Andrew Skipper said: “Hogan Lovells has great respect for Africa and the Art of Africa. We support African culture for its uniqueness, beauty, and transformational quality. Professor Bruce Onobrakpeya is an inspiring artist and teacher whose works we are in awe of and who is changing the lives of the disempowered people across Nigeria who he trains.” Skipper further noted: “Nigeria is one of the key markets we operate in and when you understand the culture of people it is easier to do business with them.” The Harmattan workshop was birthed in 1988 by Onobrakpeya when he decided to launch an in-

TONY OKUYEME ARTS EDITOR

tony.okuyeme@newtelegraphonline.com

One of Onobrakpeya’s works

formal training initiative for artists. According to Onobrakpeya, the Harmattan workshop is an alternative source of art education. He said: “The artists have the freedom to express themselves without being bogged down by academic settings or expectations and are actually able to develop themselves. People in the rural areas also get access to learning that they would not normally have, and we are discovering people who are able to use their art to tell

stories.” During the press conference, there were several discussions about the potential importance of Art to the Nigerian economy as an alternative source of income, as well as the need for more corporate entities to invest in Art and Culture by supporting informal education centers and developing art in Nigeria. The President of the Lagos Court of Arbitration, Yemi Can-

L-R: President, Lagos Court of Arbitration, Yemi CandideJohnson; Partner and Head of Africa, London, Hogan Lovells, Andrew Skipper; Onobrakpeya; and Exhibition Curator, Sandra Mbanefo Obiago; during the celebration of Prof. Bruce Onobrakpeya and the Harmattan Workshop art exhibition at The Lagos Court of Arbitration, in Lagos

dide-Johnson expressed the Lagos Court of Arbitration’s willingness to continue supporting Art & Culture in Nigeria, noting that the LCA opens its doors to art lovers to showcase art work, while challenging other corporates to do same. Commending Hogan Lovells sponsorship of the initiative, he said “Sponsorships like this shouldn’t be a one time initiative. It is important to find sponsors who are in it for the long term and Hogan Lovells is filling a huge vacuum in this regard by lending their support to this initiative.” Skipper reiterated Hogan Lovells commitment to investing in Nigeria despite the current economic challenges, “Hogan Lovells has a global view. We look at things in the long term and we know that Africa will be strong so it is critical for us to be here. Nigeria is a country where you simply cannot Not be in, and we are here for the long term”. The Harmattan workshop exhibition showcased 34 important artworks, highlighting Onobrakpeya’s artistic career spanning over 50 years, along with over 200 paintings, sculptures, ceramics and mixed media work created by 124 Nigerian and International artists who have attended the Harmattan workshops in Agbarah-Ottor, Delta State since 1998.

ART

WEDNESDAY, SEPTEMBER 28, 2016 NEW TELEGRAPH

NEWS Lights, Camera Africa Film Fest to focus on Music Makes The People

usic Makes The People is the theme of the sixth edition of “The Lights, Camera, Africa Film Festival, which will hold from September 30th to October 2nd at the Federal Palace Hotel. It is expected to be an eclectic mix of features, shorts and documentaries, comedies animation and social commentary over three days of free screenings. This year’s festival, the organisers stated, ‘Music Makes The People…’ has been chosen as an anchoring theme because “we all have a song that makes us happy or sad, one that makes us want to jump on our feet or a tune that reminds us of a cherished person or moment. How about we explore those feelings through film?” The festival is an unabashed display of works of film that speak to the power of music and indeed other art forms to create love, express sorrow, to build bridges, and end wars. Music represents all that makes us human … music has created and upheld civilisations. “For as long as mankind has been in existence music as an art form has spoken, entertained and bound communities together. Throughout the ages music is celebrated as the world’s universally spoken language, spoken by lovers and warriors in equal measure and has brought nations together. The Lights, Camera, Africa!!! Film Festival through its consistently bold representation of diverse African cinema shares its sixth edition with a theme that is perhaps the most appropriate motifs for its native city. Lagos is a shrine to rich and varying soundscape that embraces diverse art forms and diverse music. A physical statement, a motif for the communities it builds through the sounds that reverberate. ‘Music Makes the People…’ will be a feast of vibrant sounds, rhythms, emotions and moving images as we dedicate three days to screening the best of emerging, fresh, independent African cinema and in particular celebrating the musical voice of film as an art form.

Tony Okuyeme

he stage is set for the maiden edition of Realtime Film Festival which is kicks off tomorrow in

Lagos. The Festival is a celebration of artistic excellence that will bring together cinema enthusiasts, filmmakers and artists from across the world to discover the richness of Nigerian culture and tourism, and also experience an unforgettable collection of cross – cultural films. It will hold from the 29th of September to the 3rd of October 2016, across three venues - Silverbird Cinemas, Ikeja, NERDC Conference Centre and African Shrine. Announcing the hosting of the festival at a press briefing in Lagos, Festival Artistic Director and award winning filmmaker, Stanlee Ohikhuare, said the film festival was founded by, and for, independent filmmakers “who seek to express themselves through the showcase of the mastery of their craft”, adding that their vision is “to build a truly International and remotely accessible Film Festival.” “Our Mission is to become the biggest and most acclaimed technology – driven, remotely accessible Festival in Africa within two years of our existence. “At the festival we will screen an array of feature films, shortfilms and animations representing various cultures along with a special celebration of Nigeria’s veteran filmmakers, discussion panels, awards presentation and free master classes by industry giants over a four day period.” According to him, 800 films were submitted for consideration for the festival from 60 different countries both on the Festival website and on FilmFreeway. The Festival Industry Head, and a well-known film producer and director, Tope Oshin said that he is optimistic of our readiness to host storytellers from around the globe. As the world shrinks, and the ability of Filmmakers to connect with diverse global cultures becomes easier, we are bringing the world together through the art of film. “So far, we have over 800 Film submissions from 60 different countries out of which 55 Movies

Ohikhuare (right) and one of the facilitators, Mr. Barret Akpokabayen, during a press conference on the Reel-Time Film Festival, taking place in Lagos, from the 29th Sept. to 3rd Oct.

The Real-Time Film Festival debuts, premieres Behind The Wheels have been selected for screening over a four day period. We shall employ the use of current Technology to achieve the Real-Time attribute of the Festival making it possible for film makers and enthusiasts alike to participate remotely,” Oshin said. Also, highlights of the festival include the world premiere of ‘Behind The Wheels’ directed by Stanlee Ohikhuare at the New African Shrine, making history as the first feature film to be screened at the esteemed African cultural centre. Heading the jury panel of this year’s festival is Bayo Awala, who will be bringing his years of experience into the Festival’s scrutiny of diverse film expressions in ensuring credibility of the eventual outcome based on recommendations by the International Judges from the USA , Nigeria and Australia. Also on the panel are: an amazing animator, Michael Loeck (USA); lighting designer and director of photography, Christian Epps (USA); filmmaker and festival organiser, Jef Gray (USA); documentary filmmaker, Femi Odugbemi (Nigeria); music composer, Aaron Latina (USA); filmmaker, Janelle Meager (Aus-

tralia) and ace photographer, Phillip Trimnell (Nigeria). The activities for this year’s festival begin tomorrow at Silverbirad Cinemas at Ikeja Mall, with cocktail, opening ceremony, while the opening film will be screened from 9.00am to 12.00 noon, after which more films will be shown at the NERDC Conference Centre, Agindingbi, Ikeja (opposite the African Shrine). The Masterclasses will also commence tomorrow. On Friday, more film screenings and continuation of the Master classes at the NERDC Conference Centre, and between 4.30pm and 7.00pm there will be a world premiere of the controversial movie “Behind The Wheels” at the African Shrine leading to the Festival party at the same venue. On Saturday, the four-day festival continues with screenings of more films at the NERDC Conference Centre, Agidingbi (near the African Shrine), and an after party at the Shrine. The festival Awards Night and showcase of the festival closing feature film will at the Summit Event Centre (beside African Shrine) on Sunday, October 2, 2016.

Auchi Artists hold convention National Troupe partners ETI for MAAFA Point of No Return on stage T

he 2016 Auchi Artists convention will focus on the theme: Harnessing the Potentials of Art and Design in tackling the challenges in a depressed Economy, the organisers have announced. The convention is scheduled to hold from 3rd – 8th October, 2016. Also, sub-themes for the conference are: Art & Industrial Design in a depressed Economy; Repositioning The State Of Art & Industrial Design in a Depressed Economy; Developing Art & Industrial Design Skills Towards Repositioning Graduands in a Depressed Economy; Creativity Under A Beleaguared Economy-the Creative Way Out; Sustaining Creativity Under An Ailing Economy; Art, Industrial Design And Communication; and Art, Science And Technology In An Evolving Economy The event will feature conference/ seminars, exhibition, celebration of life service award, fashion show, talk shop among others.

Tony Okuyeme

he National Troupe of Nigeria in collaboration with Eda Theatre International brings on stage the play MAAFA Point of No Return, a story of liberation and change. The performance is scheduled to hold on Sunday 2nd, October, 2016, at Cinema Hall 2, National Theatre, Iganmu, Lagos. Maafa is the story of a godlike warrior (Osusu), as told by his own very son (the Narrator). It is the story of man’s inhumanity to man; the story of an untold truth. Sold into slavery with his pregnant wife, and son, through the deception of his own people, the Warlord, Osusu, soon discovers that his destiny lies in uniting the warring tribes of his nation to achieve their much awaited freedom. However, the task seems

impossible especially when the tribes fail to see who exactly the enemy is. Like they say, “the enemy on the outside is easy to fight

National Troupe of Nigeria in performance

but what do you do with the one within?” Maafa is the story of liberation; the story of change.

LITERATURE

WEDNESDAY, SEPTEMBER 28, 2016 NEW TELEGRAPH

Trapped in dialectics of contrasts, contradictions Book stand

adi Soyode’s Shadows of Whisper is a hybrid collection of 82 seminal poems conceived within a tripartite structure – “Brevity”, “Verse” and “Prose-poems”, a categorisation which appears somewhat idiosyncratic but for which the author can conveniently enjoy the much-bandied poetic license. I must hasten to state right from the outset that all the three sections eminently qualify as poetry in the finest sense of the art. “Brevity”, the opening section, is no less poetic since, in any case, parsimony in stylistic phraseology is one of the fundamental hallmarks of pristine poetry – the creative capacity to package maximum meaning into the minimum medium, to convey the most message with the least language. Brevity, therefore, is stylistic efficiency, the management of linguistic resources in the expression of the finest thought. The second section in Soyode’s collection, which carries the plain, self-revealing tag of “Verse”, is a tacit affirmation of the obvious, while the third and closing category contains “Prose-poems” which I had wrongly approached in my initial reading as polyphonic prose. The seven prose-poems in ‘Shadow of a Whisper’ are difficult to straight-jacket into polyphonic prose as they lack such generic attributes of prose as clear sentence boundaries, faithfulness to punctuation and a distinct narrative plot or expository map. They have been properly branded as prose-poems, i.e. poems constructed with some prosaic flavour in the paragraph form, but which nonetheless hide within their smooth-flowing rhythm complex and captivating schemes and tropes. In effect, all the 82 pieces in the collection are poems of diverse lengths and structures united organically by an uncanny faith in the possibilities of hope and redemption through love in a world ravaged by lust and hate, powerfully portrayed through captivating imagery, juicy and memorable diction and enchanting mellifluence. Adopting mainstream JudeoChristian cosmology faintly flavoured with Yoruba mythology, Soyode skillfully manipulates the English language to configure dilemmas bedeviling unregenerate humanity trapped in the dialectics of dualities of curious contrasts and contradictions. Oscillating across the three layers of realities and human experience, i.e. the sensory, the mental and the spiritual, the poet paints a world ravaged by wars of the body, the mind and the soul which phenomenology as a critical-philosophical approach is well-suited for deconstructing. Given the Judeo-Christian cosmography within which the collection is set, biblical influence manifests across the poems in the forms of allusions, echoes and innuen-

Title of Book: Shadows of a Whisper Author: Ladi Soyode Publisher: Cupid Press Number of Pages: 113 Pages Reviewer:

Professor R. Adebayo Lawal

does – vicarious atonement of sin, the Judas syndrome, baptismal rites, the crucifixion, the lamb of love, angelic hosts, among the lot that pervades the atmosphere. The poet highlights the deception and danger in lust and infatuation and other forms of carnal desire in this modern Age when sex has been completely democratised. He cautions in very powerful and pungent imagery that searching for fulfillment and lasting happiness in midnight misadventures is akin to the futility and folly of searching for the sun in the dead of the night (p.78). Leveraging on the cerebral, even if iconoclastic, musicianship of Abami Eda (the weird one who never dies), Fela Anikulapo Kuti, the poet identifies with the vanguard role of the artist as friend of the masses, foe to the monstrous masters, as graphically depicted in “You can’t “. Art, therefore, in particular poetry, is the yielding and fruition of

the soul which reminds and redirects amnesic humanity. In this respect, the artist is the memory and reminder of his race, its prophetic guide and guardian spirit (p.50). In the eponymous poem, “Shadows of a Whisper”, the poet grapples with the mandate and burden of the artist to distill perfection from imperfection, impose order on seeming disorder and expose disorder in deceptive order, all in a bid to discharge his role as the beacon of hope and rebirth. The poet avows his fervent faith in a listening God, the same Author of “the tragic bloom of a fading rose” and “the magic of the silent boom”. In the dialectics of contrasts and contradictions, opposites negate, associate and finally annihilate each other; God Alone is the Lasting Oddity (pp.38-39). In “Lost or Found”, the poet further preaches reciprocity of love as basis for sustainable development and enduring happiness, i.e. love must be shared, not hoarded. It is then and only then that the dark rage currently ravaging the nation can be defeated and annihilated by the light of love in the intricate dialectics of contrasting and contradictory dualities in our phenomenal world. But the redemptive, regenerative vision of the poet is not merely nationalistic; it is also at once Afrocentric, pan- African and universal. Shadows of a Whisper contains ingeniously knitted nuggets of wisdom packaged into vivid epigrams, witty aphorisms and pungent paradoxes: “The earth is a jungle of wolves”; “Life is a fragile gift” (p.42); In the moment of ripeness, all eggs bring life” (p.43); “Mankind is not kind at all”; “Scorpions and Snakes speak the dialect of poisonous bloom”; “The earth is home to savagery” (p.48); Mankind, the king of beasts” (p.46), e.t.c. The parting lesson for Nigeria is that patriotic as well as philanthropic love must spring from the soul and that is what we ought to own rather than cut-throat interregional, inter-ethnic and inter-religious rivalry, bigotry and antipathy.

What we are reading

POETRIP

Watching Oladipo Kehinde Based on thirty years in the global oil game, intimate knowledge of African history and direct experience of over forty countries, this comprehensive book shows that Africa’s flaws are not the whole story, when it comes to the continent’s history. It is a revelation about the history of the politics of oil in Nigeria. It dates back the colonial time. It points to the significance of history in education in this country. There is so much of our history that we don’t know and that accounts for the amount of ignorance with which we discuss issues in the country.

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.

TONY OKUYEME ARTS EDITOR

tony.okuyeme@newtelegraphonline.com

Prof. Jerry Buhari

Toni Kan Onwordi

I am a watcher I learn a lot from watching Watching and waiting The sun is as observer of time The cloud is an observer of season I follow the ways of the rainbow To the pot of gold I am a watcher I learn a lot from watching Watching and praying I do not stray from my path Watching and waiting for the right time I am from the extreme corner I have to keep my head above water The cloud is an observer of season I watch the ways of the sun I watch the ways of the winds The moon watches the ways of the stars And my dreams at night

wedneSDAY, september 28, 2016 NEW TELEGRAPH

BUSINESS | Money Line

Analysts: Assets sale may unlock private investment CLARITY Nigerians should ensure transparency Tony Chukwunyem

gainst the background of the ongoing debate over the Federal Government’s proposed sale of national assets, analysts at United Capital Research have pointed out that apart from the move helping to restore liquidity to the foreign exchange market, it could also unlock private investment. In a note obtained by New Telegraph, the experts argued that while the plan has generated diverse reactions, the government does not have many options especially with regard to restoring liquidity to the forex market in the short term. They said: “Beyond the short term impact of the sale of these assets on the FX market is the longer term possibility of the opening-up of some of certain previously government controlled sectors of the economy to private investment, which effectively modifies the government’s market role from a participant to a regulator, solely tasked with quality control, ensuring local content, and putting in place mechanisms to create an enabling environment for market players to compete. “This, to our mind, constitutes an even more important

theme for the Nigerian growth story at this time and would be similar at least in part, to the liberation of the Telecommunications sector that has now become one of mainstay of the Services sub-sector in recent times. We note that a similar model has been adopted in other frontier markets (notably India) and has recorded good success to date.” According to the analysts, instead of the current debate over whether the national assets should be sold at this point or not, Nigerians should insist that the process employed for the sale is transparent and that there are no issues with valuation. They said: “We believe the more objective issues to address are transparency and valuation. On the latter, Nigeria would have to be prepared to sell these assets at near distressed values given the country’s weak fundamentals at this time. Negotiating asset sales in a receding economy creates an automatic cap for valuation even if asset-specific upsides are substantial. “This is especially so for earning assets. The issue around transparency is even more contentious but largely addressable in our view. The Buhari-led administration has gained substantial credibility in anti-corruption drive relative to previous administrations.” The analysts suggested that in order to ensure that the process is transparent the sale

could be structured in such a way that it is overseen by the Nigeria Sovereign Wealth Fund with co-management by global and local fund managers. They contended that the government had little choice but to implement the plan as it was a certain short-term measure of restoring liquidity to the forex market. They pointed out that: “Portfolio inflows have been delayed, and are not likely to rebound sharply in the near term given Nigeria’s heightened sovereign risk occa-

dispute between Nigeria’s monetary and fiscal policy makers over how to lift the economy out of its worst slump in over two decades may delay the country’s economic recovery, according to Bloomberg. Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, last week, ignored calls by Finance Minister, Kemi Adeosun to cut borrowing costs and kept the key interest rate unchanged at 14 per cent, hours after she said in a television interview that looser policy is necessary to stimulate the economy. The CBN Governor also called out government for its inadequate efforts to boost growth, saying monetary

As at

MPR 91-day NTB Bonny Light Ext Res**

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

N19,142,526.05m N18,579,219.49m 17.1

Mar, 2015 Mar, 2015 July, 2016

14 10.77 US$47.68 US$24,637,658,592

26/07/2016 Mar 2015 27/9/2016 26/9/2016 Source:CBN

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

197.00

0.00 ↔

According to the analyst, although tackling FX liquidity through injection of dollars from an asset sale may not be the panacea to the nation’s economic challenges , “it could potentially restore parity to the exchange rate at the interbank market, hence narrowing the arbitrage between the parallel and interbank rates.” However, they stated : “Despite the obvious merits of an asset sale, we deem it fit to mention that a more sustainable solution is needed to close the gap between FX supply and demand.”

‘Divergence between monetary, fiscal authorities hinder Nigeria’s economic recovery’

Economic Indicators M2* CPS* INF

sioned by weak macro backdrop; global risk aversion and possible hike in the US Federal Reserves rate. “Most importantly, the shift in global oil price regime suggests that EM flows are likely to be capped in the foreseeable future. In effect, past policy errors and delays in key decisions around the domestic currency appear to have derailed the short run equilibrium path of the naira. To kick-start a process of recovery, the economy needs to respond in the same manner as it has been shocked.”

Offer 199.1000

Change (%) -1.75 ▼ -2.08 ▼

Change (%) 0.00 ↔

policy alone can’t get the economy out of stagflation and that “complementary fiscal policies” are needed to resuscitate output and consumption. Gross Domestic Product (GDP) contracted in the first half of the year as the effects of a 15-month currency peg, fuel and power shortages and lower oil prices and production weighed on output. The economy is forecast to shrink this year for the first time since 1991. The delayed approval of a N6.1 trillion budget has stalled government’s efforts to stimulate economic activity and the naira’s slump since the removal of the 197-199 per dollar peg on June 20 has fueled inflation to the highest in more than a decade, extending the decline in consumer spending. The news agency quoted an Africa analyst at Bath, U.K.based consultant Verisk Maplecroft, Malte Liewerscheidt, as saying : “The problem is that neither the government nor the central bank have a ‘grand strategy’ to fix Nigeria’s economic woes…What we have seen over the past 18 months are mostly short-sighted tactical responses to ever more pressing problems.” Inflation at 17.6 per cent and a currency that weakened about 40 per cent against the dollar since June, coupled with an economy forecast by the International Monetary Fund (IMF) to contract by 1.8 percent, underline the policy dilemma. Adeosun said the nature of inflation is not being driven by consumer demand as it is

“cost-push” and won’t respond to interest-rate increases, while Emefiele said the tightening stance has helped to lure more than $1 billion in net portfolio inflows. Cheaper borrowing would fuel demand for goods the economy can’t produce due to a lack of action to boost industrial output and increase price growth, he said. This sort of divergence between fiscal and monetary authorities, “tend to be pronounced when there are no clear best options available to policy makers. Ultimately, the fiscal authority will have to realize that the heavy lifting will have to come from its own end,” Senior Vice president at Teneo Intelligence in London, Manji Cheto, said. The difference in policy approaches between the government and the CBN is not new. President Muhammadu Buhari opposed the devaluation of the naira for more than a year, saying it would fuel inflation and hurt ordinary Nigerians. A shortage of foreign currency, which led to rapid price growth and a slump in output eventually forced the CBN to move to a free float. Lowering the monetary policy rate “will further fuel inflation and you will reduce the yield on fixed income at a time you want to attract foreign exchange,” former CBN Governor, Muhammadu Sanusi II said in a speech last week. “The immediate oxygen that this economy needs is foreign exchange coming into the economy and foreign investors are responsible for that.”

FG to raise N340bn in bonds in Q4, says DMO

he Federal Government plans to raise between N250 billion and N340 billion in local currency-denominated bonds in the fourth quarter, the Debt Management Office (DMO) said yesterday. The debt office said it would auction between N90120 billion worth of bonds maturing in 2021, N70-100 billion in the debt maturing in 2026 and N90-120 billion worth in the paper maturing in 2036. In its latest issuance calendar, the DMO said the bonds

will be re-opened from previously issued debt. The Federal Government had planned to raise between N305-395 billion worth of debt in the third quarter but ended up issuing N460 billion worth. The government issues sovereign bonds monthly to fund its budget deficit, support the local bond market and create a benchmark for corporate issuance. The FG has said it will borrow about N900 billion locally to finance part of the N2.2 trillion deficits in its 2016 budget.

BUSINESS |Financial Market News

wedneSDAY, september 28, 2016 NEW TELEGRAPH

BEARISH Profit takings drag NSE ASI into red zone

Stories by Chris Ugwu

rading activities on the floor of the Nigerian Stock Exchange (NSE) yesterday closed on the downswing, halting days of gaining streak, as investors took advantages of recent bullish trends to take profits. The overall performance measures, NSE ASI and market capitalisation, both slumped by 0.05 per cent. Driven by decline in value of most blue chip stocks, the equities market closed on a negative note. Consequently, the All-

BUSINESS |Financial Market News

Stock market halts gaining streak Share Index dropped by 14.3 basis points or 0.05 per cent to close at 28,248.86 basis points as against 28,263.16 recorded the previous day, while the market capitalisation of equities depreciated by N5 billion or 0.05 per cent to close at N9.703 trillion from N9.708 trillion as market sentiment returned to the red zone. Meanwhile, a turnover of 294.9 million shares exchanged in 3,142 deals was recorded in the day’s trading. Banking subsector of the financial services sector was the most active during (measured by turnover volume) with 71.005 million shares exchanged by investors in 919 deals. Volume in the subsector was largely driven by activities in the shares of UBA Plc

and GTB Plc. Other financial institutions sub-sector boosted by activities in the shares of FCMB Plc and United Capital Plc followed with a turnover of 47.5 million shares in 309 deals. The number of gainers at the close of trading session was 18, while decliners closed

ending the country’s reliance on oil. If Nigeria can successfully navigate this structural change, the economy will certainly benefit”. The educational events were led by FXTM’s Head of Education, Professor Andreas Thalassinos, who hosted a seminar on ‘The Ultimate Trading Formula’ and a 3-day afternoon trading workshop in Abuja. Those who attended received a wealth of information on how to trade the markets, advice on tools and techniques for technical analysis, and tips for trading. The courses were designed to cater to traders of different experience levels, with beginners, intermediate and advanced traders all being accommodated. Similar courses to those held in Abuja are planned to take place in Lagos in early November. Speaking about the events, Thalassinos said: “It was great to return to Nigeria and

On the other hand, Ashaka Cement Plc led the price losers’ table, dropping 9.67 per cent to close at N18.02 per share. Presco Oil Nigeria Plc followed with 8.89 per cent to close at N41.00 per share, while Caverton Nigeria Plc trailed with a loss of 8.42 per cent to close at 87 kobo per share.

MTN shares drop on new allegations in Nigeria

TN Group Limited Shares of slumped the most in almost two months after Nigerian lawmakers raised new allegations about the wireless carrier, this time accusing the company of illegally moving almost $14 billion out of its largest market. Nigeria’s Senate will

FXTM ends traders’ education with positive outlook on economy n line with the company’s commitment to deliver world class education to its local traders, global forex broker, FXTM, has completed a series of educational events in Nigeria, having hosted over 650 attendees across the events. Research Analyst at FXTM, Mr. Lukman Otunuga, who presented a keynote speech on the markets, commented on the Nigerian economy, according to a statement made available to New Telegraph in Lagos. He said: “Although Nigeria has faced a tough year due to low oil prices and the flotation of the Naira, which left the currency vulnerable to losses, there is light at the end of the tunnel. Nigeria’s quest for diversification has already begun, with government talks of bolstering other key sectors such as infrastructure, agriculture and manufacturing,

at 20. UAC-Property Plc led the gainers’ table with a gain of 10 per cent to close at N3.74 per share, while Law Union and Rock Insurance Plc followed with a gain of 7.02 per cent to close at 61 kobo per share. Guinness Nigeria Plc added 4.99 per cent to close at N97.64 per share.

hold another extremely successful series of educational events. Seeing strong appetite amongst local traders to learn about trading and the markets is enormously positive, as education is key to becoming a skilled trader who can recognise opportunities and risks presented by the markets. The feedback from the attendees was extremely positive, with everyone expecting to see a real benefit from the training in their trading strategies.” He explained that FXTM Nigeria also holds regular training sessions aimed at all levels of expertise, such as MetaTrader 4 classes, investment seminars and interactive online forums. He added also that FXTM was one of the first brokers to introduce the updated MetaTrader5 platform that offers hedging and, due to a lot of interest, classes on this platform are being considered for the near future as well.

thoroughly investigate the claim, it said on its Twitter account last Tuesday. The Johannesburg-based company, Africa’s biggest wireless carrier by sales, is accused of repatriating the funds over 10 years starting in 2006, according to Dino Melaye, the politician who proposed the motion. The four banks involved in the alleged illegal transfers are Citigroup Inc., Standard Chartered Plc, Stanbic IBTC Holdings Plc and Diamond Bank Plc. According to Bloomberg Africa News, representatives for MTN, Citigroup and Johannesburg-based Standard Bank

Group Limited, which controls Stanbic, declined to comment. The other two banks weren’t immediately available for comment. MTN shares fell 3.4 per cent to 119.77 rand by the market close in Johannesburg, the steepest decline since August 2. That values the company at 221 billion rand ($16.4 billion). The accusation comes a little over three months after MTN agreed to pay a 330 billion naira ($1 billion) fine in cash to the Nigerian government and list its local unit on the country’s stock exchange after about eight months of negotiations.

US stocks rise on consumer confidence after debate

S stocks shrugged off a drop in oil to rally as consumer confidence jumped and banking shares rebounded. Mexico’s peso led emerging markets higher on the perception that presidential nominee, Hillary Clinton, beat Donald Trump in their first debate. According to Bloomberg News, the S&P 500 Index extended its quarterly advance, led by technology shares, while European stocks halted a two-day rout, as banks trimmed their losses. Mexico’s peso, increasingly a barometer of Trumprelated anxiety, led gains among the world’s major currencies. Treasuries advanced to a threeweek high as the dollar fell. Oil plunged as Iran said it’s unwill-

ing to freeze output at current levels and wants to raise production to four million barrels a day. Gold and copper slumped. Traders pushed up the value of equities after data showing US consumer confidence rose to the highest level since before the last recession. The report also fueled gains in Europe, where financial companies almost erased losses, with Deutsche Bank AG unchanged after plunging to a record low. While stocks struggled to find direction in early trading, polls showing Clinton outperformed Trump were also cited as a reason for relief. Citigroup Inc. has said a Trump win in November could sink stocks and warned this week it may also spur volatility in both gold and currency markets.

NEWS | south-west

Women to access $300m AfDB's loan as Lagos partners NGO Muritala Ayinla

agos State Government yesterday said it was in partnership agreement with a nongovernmental organisation (NGO) –the African Women Innovation and Entrepreneurship Forum (AWIEF) to enable it access $300 million African Development Bank (AfDB) Affirmative Finance Action for Women in Africa. The gover nment, according to Commissioner for Economic Planning and Budget, Mr Akinyemi Ashade, will nominate qualified

candidates from among the over two million businesswomen in the state to access the fund. Ashade, who spoke shortly after signing the agreement in Ikeja yesterday, expressed optimism that the partnership would relieve female entrepreneurs in the state of the stress associated with accessing finance for their businesses. “The State Government will nominate qualified candidates from among the over two million businesswomen, while the NGO will provide training in the areas of technology transfer and business coaching,”

Ashade said. Interested women, he said, would be encouraged to form cooperative societies for easy disbursement and monitoring of the funds, saying that accessing the fund would attract foreign investment into the country and also boost the economy through increased Gross Domestic Product especially during the current recession. The founder of the NGO, Mrs Irene Ochem, said women in all the business sectors, especially both the medium

and the small businesses were eligible to apply. Ochem identified lack of access to funds as a major hindrance to the growth of businesses run by women entrepreneurs. “Zambia has already accessed the AfDB fund to empower women,” Ochem said. AWIEF) is a Pan-Africa initiative which has the goal of ensuring entrepreneurial capacity building, business skills as well as to facilitating access to finance among others.

wednesday, september 28, 2016 NEW TELEGRAPH

Abayomi: APC’ll win Ondo without Tinubu’s support Babatope Okeowo Akure

lawyer and a chieftain of All Progressives Congress (APC), Dr Tunji Abayomi, yesterday criticized the National Leader of the party, Asiwaju Bola Ahmed Tinubu over his call for the Chairman of the party, Chief John Oyegun to resign from office over the governorship primary in Ondo State. Abayomi, who had earlier had hot verbal exchange with Tinubu over the endorsement given to Dr Olusegun Abraham by Tinubu, said Tinubu was wrong to have asked the

national chairman to resign because the National Working Committee of the party upheld the result of the primaries of the party held in the state on September 3. A former President of the Nigeria Bar Association, Chief Rotimi Akeredolu (SAN) won the governorship primaries, defeating Abraham, who was a preferred candidate of Tinubu and 22 other governorship aspirants of the party. Speaking with reporters, Abayomi, who also lost the primary election, alleged that the Electoral Appeal Committee caused confusion in the party over the issue of the primaries. L-R: Estate Relations Manager, Lekki Gardens Estate Limited, Mr. Rotimi Ajilore: Managing Director/CEO, Lekki Gardens Estate Limited, Mr. Richard Nyong; Elegushi of IkateLand, Oba Saheed Ademola Elegushi, Kusenla lll and member, Elegushi Royal family, Mr.Benson Evboren, during a courtesy visit by the management of Lekki Gardens to Elegushi at the Elegushi Palace in Lagos.

855,270

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

Poly workers protest unpaid salaries, shut down institution Sulaiman Salawudeen Ado-Ekiti

orkers of the Federal Polytechnic, Ado-Ekiti, yesterday protested what they called 'gross' underpayment by authorities of the institution. The workers comprising the unions, including teaching, non-teaching, technical and general administration members of staff, condemned the institution’s Rector, Dr. Taiwo Akande, who they accused of "using grossly distorted and mutilated salary structure to pay us." The workers, who barricaded the institution's main entrance as early as 7 am, with placards accused the institution of being insentive insensitivity to the plight of workers and other corrupt practices while preventing human and vehicular movement in and out of the polytechnic. They equally sang songs to express their displeasure over the institution’s alleged refusal to implement an approved Consolidated Tertiary Institutions Salary Scale (CONTISS) as being operated in other Federal Polytechnics in the country. The protesting workers also faulted what they described as ridiculous the institution’s entry point payment put at CONTISS 7 instead of CONTISS 8 as approved standard practice in all Nigeria’s Federal Polytechnics. The Polytechnic’s stu-

dents were also not left out yesterday as they joined the workers with placards and chanting war songs to express disapproval of alleged obnoxious charges by the management on the students. Speaking during the protest, Chairman of the Ekiti State chapter of the Academic Staff Union of Polytechnic (ASSUP), Mr Tunji Owoeye, said "we are here protesting the injustice we have been stomaching for several months.” Owoeye continued: "We want to show the world that the academic staff, are being marginalised and as long as they are being marginalised, we will continue to protest until the powers that be would allow true policies to be adopted and used for a single system of the Polytechnic system in Nigeria. "What we are agitating for now is for the management to level us up to the level of our colleagues in other Federal Polytechnics such as Yaba Tech, Ilaro, Ile-Oluji, Auchi, Owana, and Ida among others. All of them have their starting point at CONTISS 8. "The policy we are agitating for is the implementation of the starting point of salary scale CONTISS 8 in the Federal Polytechnic, Ado-Ekiti." It started when the CONTISS 15 started in 2009 and only the senior staff were answered while CONTISS 11 down were marginalised and CONTISS 12 and above were promoted.

LAUTECH impasse: Oyo Assembly tells Commissioner, others to submit report Sola Adeyemo Ibadan

s a way out of the current administrative and ownership imbroglio between the State of Osun and Oyo State over the Ladoke Akintola University of Technology (LAUTECH), Ogbomoso, the Oyo State House of Assembly yesterday directed Commissioner for Education, Science and Technology, Prof Adeniyi Olowofela

and his counterpart in the Ministry of Justice, Mr. Oluwaseun Abimbola to submit their reports within two weeks. The directive was given against the backdrop of the strike embarked upon by LAUTEC’S members of staff since June 9 over non-payment of salaries, which had totally paralysed academic activities in the institution as well as the crisis being generated due to the joint-ownership. The assembly at a

Aregbesola releases N6m to tackle tetanus cases Adeolu Adeyemo Osogbo

sun State Governor, Ogbeni Rauf Aregbesola has empowered Health ministry with N6million to tackle maternal and neonatal tetanus cases (MNTE) which had claimed scores of women after child birth in the state. A Permanent Secretary in the ministry of health, Dr. Akinyinka Oluseyi Eso who made this known in Osogbo yesterday, ap-

plauded the governor for his gesture and some officials of UNICEF and WHO for providing medical facilities with a view to tackling the killer disease. Eso stated this while on awareness campaign in Egbedore, Orolu and Olorunda where the programme was launched. He said: "About 75 women die every day due to pregnancy and child birth related complications in Nigeria of which tetanus infection is one of them.

plenary presided over by the Speaker, Mr. Michael Adeyemo, told the commissioners that the reports must have two parts: the first to contain short-term solution to the lingering crisis that would ensure return of students and workers to the university as soon as possible. The second part of the reports, according to the lawmakers, should contain the review of the joint-ownership of the institution by Oyo and Osun

States and recommend ways by which Oyo State would become sole owner of LAUTECH. The two commissioners, who appeared before the lawmakers yesterday were last week summoned to appear with their reports but the duo were unable to prepare the reports, citing ongoing verification exercise for civil servants in the state as reason. They however sought permission for more time to prepare the reports.

Fayose signs N70bn appropriation bill into law Sulaiman Salawudeen Ado-Ekiti

kiti State Governor, Mr. Ayodele Fayose, yesterday signed the N70 billion Revised 2016 Appropriation Bill into law. The initial provision of the budget before the latest revision passed by Hon Kola Oluwawole–led Ekiti State Assembly had N67 billion. Fayose, who spoke briefly after assenting the bill, clarified that the

move was made to accommodate ongoing projects, including the Ikere Road Dualisation and others. Fayose noted that he sought the support of the lawmakers for the virement of the fund already earmarked for the Airport project in the 2016 budget but which could no longer be executed. Said he: “What we budgeted for in the 2016 budget was a sum of N67 billion and now it has been jacked up to N70 billion."

WEDNESDAY, SEPTEMBER 28, 2016 NEW TELEGRAPH

We’re ready for LG election, says Abia PDP Igbeaku Orji UMUAHIA

ontrary to insinuations that the Abia State Independent Electoral Commission (ABSIEC) would likely shift the date of the local government election slated for December 17, 2016, following the unanimous appeal the parties for a shift in date, the Peoples Democratic Party (PDP) has said it is ready for the election. Chairman of the party in Abia State, Chief Johnson Onuigbo, told journalists yesterday at the party’s secretariat that the party stands by the December 17 date and is working to ensure victory in all the 17 local government areas and the 292 wards in the state. Onuigbo said that the meeting with the state electoral body was to fine tune the arrangement for the election, saying that all the political parties were present and made their contributions, and finally agreed that the 17 December date would be ideal.

“As PDP, we are ready for the election. We have drawn our timetable in line with ABSIEC plan. All the things we need are ready; aspirants are coming for the forms. We are returning the party to the grassroots,” he said. Onuigbo also said that the party would adopt Option A4 for the primaries to test the popularity of the candidates and give the people opportunity to select their leaders. He assured that there would be no imposition of candidates even as there would be a level playing field for all the candidates. He, however, said that the party would respect its zoning formula as enshrined in its constitution even at the local government and ward levels. According to him, the collection of forms for the primary election began on September 26, 2016 for the chairmanship, councillorship, and three-man ad hoc delegates that would elect the chairmen at the local government level.

Biafra: You’re not God, cleric tells Buhari Kenneth Ofoma ENUGU

spiritual leader and activist, Anthony Nwoko has faulted what he described as “hard-line and unrepentant posture” of President Muhammadu Buhari towards Biafra, noting that the “ways of man is different from the ways of God”. Nwoko, who was reacting to “No referendum for Biafra” statement by President Buhari, said referendum or no referendum, Biafra would be restored. He urged Buhari to have a rethink and “let Biafra go’ as no amount of force would stop the Biafra project.” It would be recalled that President Buhari during a media event in New York City at the end of his visit to the United States as the country’s delegation to the

71th United Nations’ General Assembly, said there would be “no referendum for Biafra”, noting that the choice left for Biafran activists is to form a political party that would advance their interest within the Nigerian democratic space. But in a statement titled, “Biafra: Buhari let my people go”, the self-styled Biafra spiritual leader said: “Buhari is telling the world that there is no way Biafra will emerge through referendum under his administration. I want to let him know that the ways of God is quite different from the ways of carnal man. Biafra is God’s heavenly project, which has been ordained from heaven to liberate Nigeria and the rest of black man. The heaven have a mandate for Biafra restoration. So, no President, Senators or any other power, can stop the plan of God.

News|SOUTH-EAST

Residents decry heaps of refuse in Owerri, call for help

esidents of Owerri, the Imo State capital, have expressed worry over heaps of refuse that littered many parts of the state, the News Agency of Nigeria (NAN) reports. NAN correspondent, who monitored the situation in Owerri yesterday, reports that the refuse dumps have blocked some major roads includ-

ing Douglas Road where the Ekeukwu Main Market is located. NAN also reports that most of the refuse emanated from last Saturday’s environmental sanitation which were not evacuated after the exercise in places like World Bank Road and Imo Housing Estate. Some residents told NAN that there might be a possible outbreak

of epidemic if the refuse heaps were not evacuated immediately. A resident and trader, Mr. Thompson Ogbonna, said that the refuse heaps have caused serious blockade on Douglas Road, location of the major Owerri main market “Ekeukwu Owerri”. According to Ogbonna, the impact of the refuse had led to the abandonment of food items

ONITSHA

here was jubilation in Onitsha and its environs by hawkers, commuters and transport operators following the suspension of some levies and taxes imposed by the Anambra State Government recently. Some transport operators within the commercial city commended Governor

Willie Obiano’s magnanimity, and assured him of their total support and loyalty. Some of the transporters who spoke to our reporter alleged that they pay not less than N1000 to N1,800 daily. According to them, Governor Obiano has through this single gesture restored the confidence of the people, especially the low income earners, hawkers and petty traders who were

in the market and had caused serious apathy on patronage. A health and environmental expert, Dr. Kelechi Anozie, said refuse that littered the entire city could cause a strange epidemic. He called on government to make haste to evacuate the refuse, especially those along the market road, to prevent food contamination.

NHIS backs Ebonyi policies, programmes Uchenna Inya ABAKALIKI

he National Health Insurance Scheme (NHIS) yesterday declared its support for policies and programmes of Ebonyi State government. The state Coordinator of the scheme, Greg Azu-

buike, made the declaration during a stakeholders’ sensitisation workshop in Abakaliki. He noted that with the health programme of the state government, it will be difficult for any patient to die of common disease which, he said, was the essence of health insurance.

Azubuike called on the people of the state, including civil servants to cue into the scheme, and advised the civil servants who cued into the scheme not to pay before accessing health care in any hospital when they fall sick. Earlier, the state Commissioner for Health, Dr. Daniel Umezuruike, said

Governor Dave Umahi has declared a state of emergency in the health sector having inherited rots in the sector. He disclosed that the state government has embarked on the renovation of general hospitals and health centres across the state.

L-R: Fellow, Nigerian Economic Society (NES), Prof. Ige Ajayi; President, Prof. Ben Aigbokhan and keynote Speaker/Minister of Mines and Steel Development, Dr Kayode Fayemi, at the 57th Annual Conference in Abuja ...yesterday

Abia farmers cry to govt over pest Victor Mba

armers in the rural areas of Abia State have sent a “Save Our Soul” plea to the state government on the menace of pests that destroy their crops. The pests, they stated, attack corns, vegetables, tomatoes and other food crops in their farms. They lamented that if nothing was done to fight these pests

there will be low yield at the end of the season. A farmer at Akpaa Obingwa Local Government, Mr. Israel Ajujuwa, said the effect of the pest is so devastating to their farms. “We are afraid that all our efforts this planting season will come to nothing if government does not come to our aid. We have spent fortunes in fighting the pests on our farms,”

Ajujuwa said. Also, a farmer at Akanu Umuovie, Mrs. Kelechi Anaba said the pest has consumed virtually all that they planted in their farms. “We wake up every morning to realize that all our efforts are in vain due to the rate at which these pests attack our crops. Our most difficult situation is that we do not have the fund to buy pesticides to fight the

check point at the UpJubilation in Onitsha over suspension of illegal levies lice per Iweka near TRACAS former office.

Okegwo kenechukwu

subjected to all form of taxes by some faceless people who claim to be agents of the state government when they are not. A driver Peter Okoni said: “We will vote massively for Obiano in the next election. You see, we don’t suffer thieves again and all these touts have gone into hiding since the announcement. We thank him a lot.” Meanwhile investigation has revealed that

some touts still parade themselves in the various markets. At upper Iweka, some of the touts now disguise themselves and ride on motorcycle to intercept commercial buses plying Bridge Head to Nkpor, Tazan Building Material Market as well as Ogidi. During investigation, this reporter ran into them fighting with a commercial driver with registration ASB 112 BN near the po-

The tout collected the head rest of the front seats of the bus and surprisingly threw them into the standing police vehicle boldly written Operation Nkporchapu Rout 3. When accosted, the police officers, a sergeant and a corporal, standing there claimed they are not aware of the fracas, even as they were shown the head rest inside their vehicle.

pest,” she said. Lamenting over the attack on their farm crops by pests, Mr. Nwogugu Ogume from Ubakala in Umuahia, said: “We thought that with the various government decisions to diversify from oil, much attention would be paid to agriculture, but the reverse is the case. We are suffering due to the invasion of these pests which some farmers suspect might be a curse from the gods. We have gone a step further to appease the gods of the land to avert the curse.” However, an agricultural expert, Mr. Okoli Igwe dismissed the farmers’ suspicion, saying that the pests must have been transferred from other parts of the tropics to the country. He advised farmers to always treat their seed crops with pesticides to avoid infection. He, however, agreed that the amount of damage the pests had caused the farmers deserve quick intervention from the state government.

NEWS | south-south

wednesday, september 28, 2016 NEW TELEGRAPH

Edo guber poll: Security agencies battle ready – AIG Cajetan Mmuta, Adewale Ajayi and Temitope Ogunbanke

head of today’s gubernatorial election in Edo State, the Assistant Inspector General of Police, Zone 5, AIG Isaac Eke, yesterday expressed the readiness of the security agencies for the poll. He said, the security officials deployed for the election were on ground to forestall any crisis before, during and after the election. Speaking to selected journalists at the state Police Headquarters in Benin, Eke said the Nigeria Police had deployed enough personnel for the election,

especially in the riverine areas and warned VIPs not to move about with their aides during the election. He said: “It is no longer news that we have 25, 000 policemen on ground to take care of the waterways, airways and land. We have policemen deployed to various local governments and wards. We also have about 250 vehicles deployed for policing during the election. "VIPs are not allowed to move about with their aides while voting is ongoing. We have restriction of movements between 6am and 6pm. Likewise, we have intervention force." Shedding more light on security arrangements made to forestall manipula-

tion of the election through the waterways, Eke said: "We have gunboats and speedboats, the speedboats are there to convey the officials. We have gunboats to be positioned at strategic areas to forestall threat. We cannot hold aloof because of unforeseen circumstances.” On the possibility of security agencies being partisan or biased during the election, AIG Eke said Nigeria Police will not be political. Meanwhile, the Nigeria Security and Civil Defense Corps (NSCDC) yesterday said a total of 15, 250 of its personnel had also been deployed to the state to ensure the peaceful conduct of today’s poll.

Acting Deputy Commandant General, Operations, NCSDC, Mr. Hillary Madu, stated this while addressing the corps in Benin. He said the personnel deployed for the election include 15,000 armed and unarmed officers while the other 250 are drawn from specialised units of the NSCDC. Madu said the specialised units include the Special Weapon and Tactics (SWAT) unit, Kernel units, Counter Terrorism unit, undercover officers and others. He said all the personnel deployed are expected to work in synergy with other security agencies meant for the polls towards making

Six killed in Akwa Ibom’s petrol tanker crash

t least six people were feared dead in a petrol tanker crash which occurred at Kilometre 8, Obong Itam, along the UyoCalabar highway around 8.30pm on Monday. It was learnt that the driver, in a bid to escape

police arrest, sped off and crashed into the pavement along the highway. The News Agency of Nigeria (NAN) learnt that a tricycle was trapped and the passengers in the tricycle died in the inferno. According to an eye wit-

ness, Mr. Cyril Ekpenyong, from Obong Itam, the tricycle rider was taken to hospital, but died later. Ekpenyong said the driver refused to stop when the police flagged the truck to stop, but that the police did not pursue the vehicle.

He said the thinking of the truck driver was that the police team was pursuing him as he had poor lighting even at the rear. “We saw the truck as the police were trying to flag it down, because it was driving with one headlamp,

L-R: Secretary to Edo State Government (SSG), Prof. Julius Ihonvbere, Governor Adams Oshiomhole of Edo State and Mr F. John Bray, United States Consul General in Lagos during a visit of the Consul General to the Governor in Benin City, Tuesday.

Okowa allays traders' fears over Fresh Party chair, Ayade’s aide Sapele market on collision course Dominic Adewole

ASABA

elta State Governor, Ifeanyi Okowa, yesterday appealed to protesting market women in the state to allow peace to reign over the crisis rocking the Sapele ultra-modern market. More than 200 market women from Sapele Local Government Area of the state besieged Asaba, the state capital, yesterday under a downpour, to get justice over the controversy trailing the allocation of stores in the market. They were challenging the issue of the 900 traders who were deprived of their right to take possession of the stores allocated to them by former Governor Emmanuel Uduaghan and the

present administration of Governor Okowa. But the governor, who allayed their fears, said their grievances would be critically looked into and resolved. The Attorney-General and Commissioner for Justice in the state, Mr. Peter Mrakpor, who addressed the protesters on behalf of his boss at the Ministry of Justice, said the controversies surrounding the allocation of stores at the Sapele Ultra-Modern Market, would be resolved. Spokesperson for the traders and President of the Delta State Traders and Market Leaders, Chief Mrs. Queen Macgrey Aminoma, lamented the frustration of the market women in the locality over their inability to access the stores.

Clement James Calabar

here seems to be no love lost between the Cross River State Chairman of Fresh Democratic Party, Pastor Samuel Erete and the Special Adviser to Governor Ben Ayade on Inter-Party Affairs, Mr. Austin Ibok as the party had accused Ibok of excluding it from government activities. According to Erete, despite efforts made to get Ibok to carry the party along, the Special Adviser has continued to rebuff

3.3m

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

him, not minding the fact that his party was registered by the Independent National Electoral Commission (INEC). The Fresh party chieftain, who made this allegation yesterday in Calabar while briefing Journalists, maintained that because of this exclusion, his party had not benefited from the state government in any way. He said: “Fresh Party leadership in Cross River State hereby frowns at the activities of Mr. Austin Ibok, the Special Adviser to the governor on Inter Party Affairs by allowing his personal interest to override his official position by excluding our party from official functions in the state.”

the election free, fair and credible. Madu also warned that anybody out to disrupt the electoral process would be dealt with according to the law even as he cautioned officers and men of the NSCDC against any form of compromise by the politicians. While describing the state as a peaceful one, the NSCDC boss further appealed to the people to ensure that the prevailing atmosphere of peace was sustained before, during and after the election, adding that five commandants from neighbouring states had been deployed to coordinate the 15,250 officers deployed to the state. According to him, “We

are here to maintain peace, that is exactly why we are here, we are preaching peace and appealing to everybody, especially the politicians and their loyalists to help us sustain this peace. "This election is not about anybody, and it is not worth the soul of anybody. We must all work for the success of the poll. For us as a security agency, we are not politicians; we are here to ensure free, fair and credible governorship election." Madu said the major flash points across the state have been mapped out for effective surveillance and that officers of the NSCDC would be visible in all the 2, 627 polling units, and 192 wards in the 18 councils of the state.

Lamido blasts APC for failing Nigerians Emmanuel Masha Port Harcourt

ormer Jigawa State Governor, Dr. Sule Lamido, yesterday blasted the All Progressives Congress (APC) for what it described as its failure to live up to people’s expectations since coming into power, as the party leaders had continued to give excuses for their failure. Lamido said the APC only grabbed power for the sake of it and not for the purpose of providing service to Nigerians, who were eager to see them perform. He said Nigerians expect their leaders to perform rather than make excuses for their inability to deliver on their campaign promises, just as he said that APC failed Nigerians because the party lacked the capacity for pro-people governance.

Speaking in Port Harcourt, the Rivers State capital while commissioning the reconstructed Ozuoba-Rumosi road in Obio/ Akpor Local Government Area, Lamido said the leadership of the APC was learning on the job after their electoral victory, and have embarrassed Nigeria internationally by failing to work for the people. He said only the governors of the Peoples Democratic Party (PDP) were working, lauding Governor Nyesom Wike for bringing the dividends of democracy to the people of the state. He said: "Only PDP governors are working. We in the PDP care and we are concerned. If we were given a responsibility, we discharge it creditably. Governor Wike has done very well. I extend the gratitude of the entire PDP family to Governor Wike for his performance."

Amaechi’s Niger Delta peace initiative selfish, says Rivers PDP Emmanuel Masha Port Harcourt

he Peoples Democratic Party (PDP) in Rivers State has dismissed the initiative of the Minister of Transportation, Chibuike Rotimi Amaechi, to restore peace in the Niger Delta as a move aimed at testing his popularity come 2019 and not in the overall interest of the region. The state Chairman of the PDP, Felix Obuah, who made this known in a statement, described the forum “as an assemblage of All Progressives Congress (APC) members put together to try to see

if Amaechi’s huge credibility problem could be redeemed.” Obuah noted that the former governor had betrayed the people of the Niger Delta as he lacked the required charisma to embark on a peace initiative in the region, wondering why Amaechi should convene such meeting outside the region. He said Amaechi was ‘day-dreaming’ in his quest for peace after he had brought so much insult to the people of the region and has also ‘played a major role in pushing out the son of the Niger Delta as the President of this country, in preference to his new found love…’

News|NORTH 43

WEDNESDAY, SEPTEMBER 28, 2016 NEW TELEGRAPH

Assembly to quiz Benue commissioner over fraud Cephas Iorhemen MAKURDI

he Benue State House of Assembly yesterday said it would quiz Commissioner for Health and Human Services, Dr. Cecilia Ojabo, today over alleged fraud it uncovered in the recruitment of workers into some Ministries,

Departments and Agencies (MDAs). The Assembly took the decision following a motion under urgent public importance moved by a member representing Oju II Constituency and Chairman, House Committee on Health, Dr. Adoga Onah. Onah told the Assembly that the commissioner had deliberately refused to avail the committee of

certain infor mation that would help it unearth hidden facts on how the recruitments were carried out. The lawmakers said earlier intervention and directive that the commissioner had availed them on the matter had variously hit the rock, a development that informed the latest action by the lawmakers. Onah told the As-

sembly that the ministry had carried out recruitment in some of its MDAs which attracted a series of complaints, hence the need for the committee to investigate the matter and described the action by the commissioner as an abuse of the constitution. Ruling on the motion, the Speaker, Hon. Terkimbi Ikyange, directed the commissioner to ap-

L-R: Co-founder and Advisory Board member, World Pension Summit, Mr. Henry Smorenberg; Director General, PenCom, Chinelo Anohu-Amazu and Co-founder, World Pension Summit, Mr. Eric Eggink, at the World Pension Summit in Abuja…yesterday. PHOTO: TIMOTHY IKUOMENISAN

Lalong: Plateau diversifying its way to economic prosperity Musa Pam Jos

lateau State Governor, Simon Lalong, yesterday said his administration has diversified from relying on the dwindling oil revenue from the federation account to agriculture as the driver of the state’s economy in order to turn around its fortunes. The governor in a statement issued by his Senior Special Assistant on Me-

dia and Publicity, Mark Longyen, said his efforts were already beginning to yield some economic dividends for the state. Lalong spoke yesterday at the Nigerian Embassy in Johannesburg during an interactive session with Plateau State indigenes resident in South Africa. According to the statement, the governor was leading a team of state officials to the country on an economic development working visit aimed at ‘promoting the state’s

Coalition tasks Gombe on management of malnutrition Willie Danjuma Gombe

coalition in Gombe State, Maternal, New Born and Child Health (MNCH), has called on the state government to intensify efforts at expanding the services of the Community Management of Acute Malnutrition (CMAM) to all the 11 local government areas of the state as a way of tackling the menace of malnutrition currently bedeviling the state. The CMAM programme, where children badly affected by malnutrition were administered

with plumpy nuts that revive the children within a very short time, was only going on in three local government areas of Dukku, Gombe and Nafada out of the 11 council areas in the state. Addressing newsmen yesterday, Chairman of the coalition, Alhassan Yahaya, said the coalition would urge the government to approve the State Food and Nutrition Policy and the Costed Operation Plan as a way of drastically reducing the menace of malnutrition through timely provision of adequate resources in all the council areas.

competitive advantage to derive multiple income streams.’ “We inherited a near failed state with huge and intimidating economic challenges on assumption of office, we had to think out of the box and fashion out a Five-Point Policy Thrust, with agriculture having now become the driver of the state’s economy,” Lalong said. The governor added that in line with his economic diversification efforts, in addition to agriculture,

government was also developing other sectors in which it had comparative advantage, such as solid minerals, tourism, commerce and industries. “Since we have made agriculture the mainstay of the state’s economy, we took over the Agricultural Services and Training Centre (ASTC), which was moribund when we assumed office. We are restructuring and tailoring the centre towards achieving our goals of economic diversification for prosperity.

pear before the Assembly today by 10am with all necessary information that would assist the Assembly with a view to taking a decision on the matter. Meanwhile, a high court sitting in Makurdi, yesterday adjourned a case between the lawmaker representing Logo Constituency, Hon. Kester Ikyenge and the Assembly to November 3.

Ikyenge had dragged the Assembly before the court to challenge what he called his ‘illegal suspension for three months for allegedly ridiculing the House.’ But Ikyenge told reporters shortly after the adjournment that he was ‘hopeful of victory no matter the delay tactics being applied by the defendant, knowing full well that the matter was time bound.’

Nasarawa decries high rate of maternal death Cheke Emmanuel LAFIA

asarawa State government yesterday decried high rate of maternal mortality in the state currently put at 700, saying it was unacceptable. To this end, the government said it has perfected strategies to reduce the number to a minimal level by way of public sensitization, especially on the need to access the right medication and strengthen its healthcare delivery system in the state. The Commissioner for Health, Dr. Daniel Iya, who disclosed this in an interaction with newsmen, said one of every 100 women die of child birth yearly in the state. Iya explained that although the state was leading the states with highest cases of maternal mortality in the North-Central geopolitical zone, the previous record of 700 cases recorded in the state would be reduced next year if modalities fashioned by the state government were carefully implemented. He said the state government was in the receipt of $1.5 million meant for the implementation of the

‘Save One Million Lives’ programme, saying the process of accessing the fund was being worked out. The commissioner disclosed that of the 700 Primary Health Care (PHC) facilities in the state, only half of them were functional, stressing that government would identify some of them in different communities of needs and make them more functional to boost the healthcare needs of the people. Iya said that the idea was to bring down the number of maternal deaths and as well make the health care centres more accessible and affordable to the public, even as he disclosed that the intention of government was to prevent communicable diseases in the state. He advised expectant mothers to always go for ante-natal care and avoid giving birth at home, especially in the care of unskilled birth attendants. Meanwhile, the state government yesterday said it had lined up some completed projects for commissioning, including the multi-million naira Bokoko Bridge in Kokona Local Government Area of the state as part of activities marking the 20th anniversary of the state.

Ahmed flags off N3.7bn road project Sokoto purchases 172 electricity Biodun Oyeleye Ilorin

wara State Governor, Alhaji Abdulfatah Ahmed, yesterday flagged-off construction of a N3.7 billion GeriAlimi Split Diamond Underpass in Ilorin as part of an effort to decongest traffic in the state capital. Ahmed at the ceremony said the project, to be funded through the newly launched Kwara State Infrastructure Development Fund (IFK), was expected to be completed within an 18-month timeline. He also said that when completed, the project will not only ease the flow of

traffic, but will add aesthetic value to the Geri-Alimi axis of the metropolis. The governor assured the people of the metropolis that alternative roads would be provided to ease “the momentary inconvenience that the project may cause to road users, adding that property owners that may be affected by the project would be compensated in line with relevant laws. He said more projects such as the dualisation of the Zango-University of Ilorin road, New campuses of the state university in Ilesha-Baruba and Osi, captured under the IFK funding window, will be carried out and brought to completion without delay.

transformers

Umar Abdullahi Sokoto

okoto State government yesterday said it has purchased 172 electricity transformers worth more than N623.2 million meant to boost power supply in the state. Commissioner of Rural Development, Alhaji Abdullahi Maigwandu, disclosed this to newsmen in Sokoto, the state capital. He said all the transformers had been delivered by the contractors and that they were made up of 200KVA, 300KVA

and 500KVA capacities. Maigwandu added that the transformers were in the warehouse of the ministry in Sokoto and will soon be distributed to the various communities in the 23 local government areas of the state for installation. He said the gesture was aimed at boosting power supply in the state with a view to facilitating more socioeconomic activities, adding that Governor Aminu Tambuwal had given an approval for the purchase of 208 generators worth over N 399 million.

WORLD \ NEWS

NEWS

WEDNESDAY, SEPTEMBER 28, 2016 NEW TELEGRAPH

Recession:Obasanjorecommends Clinton delivers in first debate externalborrowing Kunle Olayeni Abeokuta

or mer President Olusegun Obasanjo yesterday said Nigeria must urgently embrace exter nal borrowing in order to reflate its economy and bring the country out of current recession. Obasanjo, who proffered solution to the economic challenges being faced by the country, backed the sale of national assets but cautioned the President Muhammadu Buhari-led administration against playing into the hands of cabals. He spoke at the opening of a two-day conference in Abeokuta organised by the National Council on Finance and Economic Development (NACOFED) with the theme: "Enhancing revenue generation and obtaining best value for money in expenditure." In attendance at the event were Governors Ibikunle Amosun (Ogun) and Ibrahim Dankwabo (Gombe); Minister of Mines and Steel Development, Dr Kayode Fayemi, Minister of Finance, Mrs Kemi Adeosun, Comptroller-General of Nigeria

Customs Service, Col Hameed Ali (rtd), Chairman, Federal Inland Revenue Service (FIRS), Dr Babatunde Fowler, and public finance managers across the country. Obasanjo said what Nigeria was experiencing at the moment had long been predicted. He attributed the economic downturn to corruption and mismanagement of the nation's resources by the immediate past administration, which he accused of encouraging unbridled importation. The former president noted that there are three options for the Federal Government to address the problem, including spending less, earning more and borrowing. He said he was not opposed to borrowing from the World Bank and International Monetary Fund (IMF) to revive Nigerian economy, stressing that the country must, however, not succumb to the bidding of the international creditors. Obasanjo said: "If you are spending more than you are earning, there are only three solutions. One, you spend less; two, you earn more; three, you borrow in the hope that you'd pay back. For

us, we have to do the three as quickly as possible. "We must borrow, otherwise, we will just be deceiving ourselves. We must go to people who will give us that money, on reasonable terms. And there are friends with whom we can do that. "With all due respect, I don't say don't go to them (World Bank and IMF). We must go to them. When I was in government, I said to all my collaborators 'never you say no to World Bank and IMF but never you do their bidding.' "If you say no to them, they will rub your face on the floor. They'll make sure that that happens to you. And if you do their bidding, you will fail and when you have failed, they would say it's because you didn't do it the way they had wanted you to do it. "Borrowing may be the quickest and the good thing also is that out there, there is money. I know that. But people will not part with their money unless they are sure that you are doing what is right for you to get yourself out of the hole that you find yourself. If they find that you are digging yourself more in the hole, they won't allow you to have access to their money."

India to invest $5bn in Nigeria Anule Emmanuel Abuja

group of Indian investors have concluded plans to inject $5billion to help revive Nigeria's dwindling economy currently in recession. The investment by the Indian firms is coming barely 24 hours after the African Development Bank (AfDB) approved a loan of $1billion to assist in financing the N2.2trillion budget deficit in the 2016 fiscal year.

According to statement yesterday by the Senior Special Assistant to the President on Media and Publicity, Garba Shehu, the plan of the Indian investment was disclosed when President Muhammadu Buhari received the Vice President of India, Mohammad Hamid Ansari, at the presidential villa, Abuja. Indications are that India has already an investment portfolio of about $10billion in Nigeria. Shehu, in the statement, said President Buhari welcomed the proposed

investment of $5 billion in the Nigerian economy by the business delegation that accompanied the Vice President. "India had already invested $10 billion in the economy," Shehu noted. Speaking during the meeting, President Buhari said Nigeria would emulate the Asian country’s agricultural model and capacity to feed its One billion population, and also export to other countries, describing the country as ``sustainable and prosperous’’.

Mohammed urges Nigerians to market country well Andrew Iro Okungbowa

he Minister of Information and Culture, Alhaji Lai Mohammed, has called on all Nigerians to have a positive attitude about the country, be patriotic and market the country in the right way so as to attract investors and tourists to the country. The minister was speaking at a press conference to mark the celebration of this year’s World Tourism Day (WTD) yesterday hosted

by the Lagos State government shortly after a tour of Eko Atlantic City in Lagos. According to the minister, Eko Atlantic City, which is a private driven project, is the best example of the viability of Nigeria and the faith of people and investors in the country. According to him, despite the pall over the nation resulting from the current recession, havoc on the northern part of the country by the Boko Haram insurgents and

that of the Niger Delta militants, Nigeria’s future is very, very bright and that there is no better testament to this than the Eko Atlantic City project. He said: ‘‘It takes an investor to have a great confidence in any economy before putting hundreds of millions of dollars into a city like this. Those who can see the bright stars in our horizon, beyond this temporary cloud of difficulties, are investing in the country even as we speak’’ he said.

illary Clinton showed up at the debate of the century and delivered. Donald Trump started out strong, then struggled. The Democratic and Republican nominees waged a fiery battle Monday night when they appeared on stage together for the first time -- a clash of two famous personalities locked in a dead heat for the presidency. During one of the most highly anticipated debates in modern political history, the candidates drew sharp contrasts on temperament, character and policy and

starkly different visions of where they would lead the nation. Clinton had the better night, repeatedly putting the Republican nominee on defense on the issues most likely to damage his White House campaign- his refusal to release his taxes, his past comments on race and his attitude toward women. By yesterday morning, Clinton knew she came out on top. During a gaggle with reporters on her plane, Clinton taunted Trump's complaint that the microphone at his podium was "defective." "Anybody who complains about the microphone is not having a good

night." Trump started out strong and made effective points on the economy, trade and jobs that were uncomfortable at times for his rival. He put Clinton in a tight spot as he repeatedly accused her of being in Washington for 30 years and of doing little to improve the economic health of Americans, a line that could resonate in key swing states such as Pennsylvania and Ohio. But he appeared to fade as the night wore on, failing to effectively press Clinton on her deepest vulnerabilities on her private emails server and long history of ethical questions.

Donald Trump shakes hands with Hillary Clinton at the conclusion of their first presidential debate

Bongo sworn in after disputed poll in Gabon

abon President Ali Bongo was sworn in for a second term yesterday and called for unity at a low key ceremony following a razor thin election victory whose integrity was questioned by international observers. Bongo's victory by less than 6,000 votes has drawn unwelcome scrutiny on the president, whose family has ruled the oil producing state in Central Africa for 49 years. France called for a recount and the European Union said it detected anomalies in Bongo's stronghold province of

Haut-Ogooue, where he won 95 percent of the vote on a 99.9 percent turnout. Opposition leader Jean Ping said the election was rigged. "The elections are over. We must move on to other things," said Bongo in a speech at the red carpeted palace during his inauguration to a fresh seven year term. Fears of violence when the Constitutional Court declined Ping's petition for a recount and ratified the result have not materialized but yesterday inauguration ceremony was kept low key in an apparent attempt to forestall any possible trouble.

Riot gear was preemptively laid out alongside military vehicles on main streets, but many residents did not even know the inauguration was taking place. "I invite all the major stakeholders in the nation to sit down together in order to find solutions that will satisfy our compatriots," said Bongo who took power in 2009 on the death of his father who ruled for 42 years. At least six people died in clashes between protesters and security forces when the initial results of the August 27 vote were announced.

Charlotte protesters demand mayor's resignation

ozens of protesters took their fight for racial equality in policing to the heart of Charlotte's power structure two days ago, demanding the resignations of the mayor, police chief, and lawmakers in the wake of the police slaying of a black man. Residents and activists, many of whom have participated in street demonstrations every day since the death of Keith Scott yesterday, spoke at a packed city council meeting of frustrations with racial discrimination in

the North Carolina city of about 792,800 residents. Many speakers said city officials were responsible for ensuring police officers treat everyone fairly, and called on Mayor Jennifer Roberts, CharlotteMecklenburg Police Chief Kerr Putney, and members of the city council to resign. "If you can't do your job, let's find someone who can. We can't choose who we want the laws to apply to." said Darcel Chandler, an attorney. The death of Scott, a 43 year old father of seven,

in Charlotte, and Terence Crutcher in Oklahoma, were the latest cases to raise questions about racial bias in U.S. law enforcement and stoke a national debate on policing ahead of the U.S. presidential election in November. Police slayings in cities such as New York, Baltimore, Chicago and Ferguson, Missouri, have triggered more than two years of largely peaceful protests punctuated by days of rioting, and given rise to the anti-racism Black Lives Matter movement.

WEDNESDAY, SEPTEMBER 28, 2016 NEW TELEGRAPH

Sport News

Did you know?

Sport Siasia, others to be paid soon – NFF

That Manchester United players exchanged passes 18 times before Juan Mata’s second goal against Leicester in United’s 4-1 win on Saturday

International Arsene Wenger wary of Basel’s threat

Federation blames TSA over delay Adeolu Johnson Abuja

ormer national U-23 coach Samson Siasia may have to wait a little longer before he gets his salary arrears as the Nigeria Football Federation battles with intricacies of Federal Government’s Treasury Single Account. Siasia whose contract expired after leading the U-23 team to a bronze medal feat at the Rio 2016 Olympics recently issued the soccer house a two-week ultimatum to pay his outstanding salary. But the NFF General Secretary, Dr. Mohammed Sanusi, said the coach was not the only one being owed by the federation, ask-

Siasia

Zambia midfielders quit retirement for Eagles

Nigeria’s Oghenekaro Etebo (right) battling for the ball with Egypt

ing him to exercise patience as the delay was never their making. Sanusi shed more light on the cash crunch the federation was battling with, disclosing that top management staff including himself and his deputy Dr. Emmanuel Ikpeme, have not collected salary for upward of seven months. The General Secretary said all coaches on the NFF’s pay roll would have their salaries credited to their accounts as soon as the issue of TSA is resolved. The NFF President Amaju Pinnick had directed the federation’s account section to use a 60,000 dollars it received from Confederation of African Football to clear Siasia’s salary but according to Sanusi, the funds

went straight into the TSA account and they were yet to access it. He assured that the coaches including Siasia would set all their outstanding payments once the monies the TSA account is available. “We have applied for the money and working round the clock to ensure their salary arrears are cleared,” he said. Siasia had been at loggerheads with his former employers over the unpaid salary and even threatened to abandon his post as U-23 coach during the build-up to the Rio Games. Eminent Nigerians including the Minister of Sports Solomon Dalung had intervened, urging the federation to settle the former Super Eagles coach.

Rangers: Enugu govt plans elaborate celebration Charles Ogundiya

E The Sport Team Adekunle Salami Group Sport Editor

Emmanuel Tobi Assistant Sport Editor

Ajibade Olusesan Sport Correspondent

Charles Ogundiya Sport Correspondent

nugu State Commissioner for Sports, Charles Ndukwe, has revealed to New Telegraph that the government is planning an elaborate celebration as the state’s owned club, Rangers, are on the verge of winning the Nigeria Professional Football League title. The club last won a trophy in 1984, 32 years ago, and a point against El-Kanemi Warriors this weekend at the Nnamdi Azikwe Stadium, Enugu, will be enough for them to secure the national title. Ndukwe said many dignitaries were being expected to grace the final match to celebrate the great feat. “It is going to be a massive celebration,” Ndukwe said. “We are having a meet-

ing tomorrow (today) where we are going to conclude how things will go and by Friday, the picture on the mode of celebration should be clearer. “We are expecting all our stakeholders to be around on Sunday for the game against El-Kanemi Warriors, from the House of Assembly members, National Assembly members, all the commissioners, even some of our people from Anambra. I am not sure that stadium will contain everyone that will come for that game.” He added that the fans started the celebration since the 2-1 victory against Ikorodu United at the weekend even when they were yet to win the trophy. According to him, the fans are not waiting for any-

body to entertain them. He said: “Since last Sunday they have been celebrating on their own despite the fact that the

Enugu State Governor, Ugwuanyi

trophy has not landed, what will now happen when it comes on Sunday? I am sure the celebrations will be unprecedented.”

SPORT NEWS

WEDNESDAY, SEPTEMBER 28, 2016 NEW TELEGRAPH

Zambia midfielders quit retirement for Eagles Ajibade Olusesan

ambia midfielder Chisamba Lungu has rescinded his decision to quit the Chipolopolo and has made himself available for the World Cup 2018 qualifier against Nigeria on October 9. Chisamba who announced that he would rather not play for the Zambia national team after he was left on the bench in the game against Guinea Bissau was in the list of players released by new Chipolopolo coach Wedson Nyirenda last week to face the Super Eagles in Ndola. The Russia-based player has now accepted the invitation as he could not disappoint his mentor and the new Chipolopolo coach. “We should look at the bigger picture which is the

nation. It is the country at stake not our personal egos. Whoever is called has to respond to the call otherwise we can be embarassed. We are out of the Africa Nations Cup, we have to make up for that. We have to account for ourselves well and put up a good run in our campaign for the 2018 Russia World Cup,” the Ural midfielder said. Another midfielder Fwayo Tembo has also reported for the national team camp after he had said he would not play for Zambia. Tembo was around as Chiplopolo regrouped in Ndola and trained under the tutelage of Nyirenda for the first time since the coach was appointed. The 16 local players called to camp were all available for yesterday’s training.

Rangers’ title chase excites Chukwu

Ifeanyi Anyaka

Ahmed Musa (right)

Abia Warriors, Heartland, MFM, ‘LMC officials remain convicted’ Wolves in relegation battle G W

ith Giwa FC expelled for r ules infraction and Ikorodu United already confir med rele gated, the next two relegation places have been narrowed to Abia Warriors in 15th place with 45 points, Hear tland of Ower ri on 16th with 43 points, MFM FC, Lagos on 17th with 42 points and Warri Wolves on 18th place with 42 points. Of the lot, only Heartland plays away on the last day. The Naze Millionaires are guests to Plateau United. Abia War riors hosts Shooti n g , M F M we l c o m e s continental chasing FC IfeanyiUbah just as War ri Wolves engages Ikorodu United in Warri. Abia Warriors showed the mettle of Warriors in Port Harcourt on the last match day where they did themselves a world of good picking a point at Rivers. Now a draw on last match day will secure their stay in the Nigeria Professional Football League no mat-

ter what happens in the other venues. Hear tland, a team that has never been relegated since it was founded as Spartans FC in 1976 must win in Jos to make results in Agege and War ri ir relevant. Otherwise, they have to pray neither of Wolves and MFM wins. Wa r r i Wo l ve s a n d MFM are on 42 points and must win to nurse any hope of survival. T hen they will pray Heartland doesn’t win and Abia loses. Next, t h e g o a l s d i f f e re n c e becomes a f actor for Wo l ve s a n d M F M i f both win, Heartland fails to win and Abia loses. But the Hear tland and Abia results must not happen for either of Wolves and MFM to survive. A ‘favourable’ result from any of the earlier duo could pave the way for one of the latter duo. But if both Heartland and Abia falter, the door of escape would open for Wolves and MFM.

Ugochi Akwueze

he delegation of Nigeria’s U17 Women National Team, Flamingoes, has arrived in Jordan Tuesday morning aboard an Emirates Airline flight from Dubai. The 32 –member delegation comprising of 21 players, 9 Officials, NFF Assistant Technical Director, Abdulrafiu Yusuf and Head of Women

iwa FC fan Mustapha Abubakar’s lawyer, Habilah Adzard, has clarified the position of the Appeal Court over the conviction of the League MAnagement Company Chairman, Shehu Dikko and Chief Operating Officer, Salihu Abubakar, stating that the court never struck out orders of the Jos High Court. The appellate court on Monday sat in the case between Giwa FC and the LMC bigwigs. The lawyer said that the matter between the Amaju Pinnick’s Nigeria Football Federation and that of Chris Giwa was never struck out, either. Rather the court asked both parties to proceed to the Supreme Court. “Counsel to the LMC raised the issue of committal made by the Jos High Court because of their failure to obey the order it issued, and asked the court to stop the police from harassing or arresting their clients, but the judges said the orders would remain until arguments are made and decision reached,” Habilah said. “So as it is , the order of the High Court on contempt, committal and the warrant of arrest stands.” “On October 11, when the matter comes up, all arguments will be canvassed by counsel to all parties. But we have filed another motion that will also be coming

up on that day. We are asking the court to cancel the results of all matches played when the order was pronounced. “Finally, I want to state here that never did the appeal court strike out the case between the Giwa-led NFF and the Pinnick’s group, rather it transmitted the battle to the Supreme Court for determination,” he said.

echnical consultant to Enugu Rangers, Christian Chukwu, has expressed joy over the club’s imminent Nigeria Proffesional Football League title triumph. Chukwu said he was optimistic that the Flying Antelopes would get the needed one point in their final league game against El-Kanemi to claim the title. He added how privileged he was to be part of the team’s victory after 32 years of waiting for the title. “Rangers are on the verge of winning the league title after their last triumph in 1984, it’s been 32 years and now they are at the verge of winning the cup, I see it as a rare privilege for me to be part of the victory,” he said. “I believe the team will get at least a draw against ElKanemi on Sunday.” Chukwu expressed confidence in the team and the coach, Imama Amakapabo, stating that the team is already on a solid platform. The Rangers, El-Kanemi tie scheduled for Enugu is one of the matches that will draw curtain on the 2016 NPFL season on Sunday.

Katsina, Jets, Gombe in promotion race Adeolu Johnson ABUJA

ith Remo Stars already secured promotion to Nigeria Proffesional Football League, six National League clubs; Katsina United, Mighty Jets, Gombe United, Dream Team and Gateway United of Abeokuta are in the final race for the remaianing tickets to the elite division on Saturday. In Group A 1, Jets who are topping with 24 points must get a maximum victory on the road against Jigawa Stars if they must realise their dream of playing in the elite division next season. Also in the same group, the Katsina who are on 23 points are waiting for a slip from Jets when they take on Kogi United at home to snatch the ticket. The race for the Group A2

ticket is between Gombe United and Dream Team from Markudi. Gombe who are topping with 25 points will be guest of relegation-troubled Supreme Court FC of Abuja while Dream Team with 24 points will play host to Adamawa. In Group B2 the race is between Gateway andf Crown FC with 21 points respectively.

Mighty jet coach, Bauldwin Bazuaye

Flamingoes land in Jordan

Football, Ruth David were on board the same Emirates Airline flight from Dubai with Group C opponents, Korea Democratic People’s Republic. The airplane landed at the Queen Alia International Airport, Amman at 9.25am Jordan time on Tuesday. The Nigeria delegation was received Head of Chancery, Nigerian Embassy, Abdulhamid Aminu and Ernest Oro-

gun, the Communications Officer, as well as members of the Local Organizing Committee of the 5th FIFA U17 Women’s World Cup. The players and officials later left for Le Royal Hotels and Resorts, Amman where they are lodged. The Flamingoes will resume training on Wednesday. The three –time quarter finalists will play their opener against Brazil on Nigeria’s Indepen-

dence Day (1st October) by 4pm Jordan time (2pm Nigeria), before games against England and Korea DPR at the Amman International Stadium. It is worthy of note that only 22 seconds were on the clock at New Zealand 2008 when Nigeria’s Soo Adekwagh scored not only the fastest goal in the history of the FIFA U17 Women’s World Cup, but in any FIFA women’s competition.

INTERNATIONAL

WEDNESDAY, SEPTEMBER 28, 2016 NEW TELEGRAPH

Wenger wary of Basel’s threat

rsenal drew their opening Champions League Group A match with Paris Saint-Germain (Source: Getty) Arsenal manager Arsene Wenger admits he is wary of the threat posed by reigning Swiss champions Basel as the Gunners bid to establish themselves as Group A frontrunners during their Champions League clash on Wednesday. Basel have been crowned Swiss champions for eight out of the past nine seasons and their back catalogue of European victories includes toppling Manchester United, Chelsea and Liverpool. “It’s a team that dominated the Swiss championship for many years and have had excellent results in England,” said Wenger. “They’ve beaten everybody in England – Man United, Chelsea and Liverpool. “I don’t expect them to be intimidated at all. On the other hand, they have nothing to lose as well. That’s always dangerous.” All four teams in Group A are locked on one point, with Arsenal having drawn against Paris Saint-Germain during the opening round of fixtures, while Wenger is

FANS’ ZONE

Russia 2018: No home venue for Eagles

keen for his side to build on Saturday’s Premier League humbling of Chelsea. Meanwhile, Arsenal midfielder Francis Coquelin is set to be sidelined for three weeks with the knee he sustained on Saturday, while striker Olivier Giroud is suspended. WEDNESDAY’S FIXTURES Arsenal v Basel Ludogorets v PSG Besiktas v Dynamo Kyiv Napoli v Benfica M’gladbach v Barcelona Celtic v Man City Atletico v Bayern FC Rostov v PSV

7.45pm 7.45pm 7.45pm 7.45pm 7.45pm 7.45pm 7.45pm 7.45pm

As the Super Eagles begin their quest for qualification for the 2018 World Cup in Russia, New Telegraph speaks with technocrats on the lingering issue of home venues for the team.

Eagles can play anywhere –Adepoju

he Super Eagles can play their home matches in Port Harcourt, Uyo or even Kaduna stadiums. I feel they can play anywhere in Nigeria and I think the matches should be taken across the country so the fans can feel them. It now depends on where they will be stable and comfortable when playing.

Arsenal’s Kierien Gibbs sss

orussia Monchengladbach coach Andre Schubert says his side have nothing to fear against a Barcelona team shorn of the injured Lionel Messi for Wednesday’s Champions League clash. Barcelona opened their assault on Europe a fortnight ago with a 7-0 drubbing of Celtic at the Camp Nou while the Germans suffered a 4-0 defeat at Pep Guardiola’s Manchester City. But Schubert, whose contract has been extended until 2019, insists his side need not be intimidated.

“There is no reason to be awestruck. We will approach the game with energy, joy and a willingness to fight,” Schubert told a Tuesday press conference. Schubert’s new deal, announced on Tuesday, is recognition for steering Gladbach from bottom of the Bundesliga when he took over in September 2015 to Champions League qualification by finishing fourth. “We’d liked to have seen Lionel Messi at Borussia Park,” said Schubert.

Allardyce leaves as England manager

am Allardyce has left his post as England manager by mutual agreement with the Football Association after one match and 67 days in charge. It follows a newspaper investigation claiming he offered advice on how to “get around” rules on player transfers. Allardyce, 61, is also alleged to have used his role to negotiate a deal worth £400,000 to

Allardyce

Mutiu Adepoju Ex-Eagles midfielder

No fear for Gladbach against Barca

represent a Far East firm. An FA statement said Allardyce’s conduct “was inappropriate” and Gareth Southgate will take temporary charge. “He accepts he made a significant error of judgement and has apologised,” the FA said. “This is not a decision that was taken lightly but the FA’s priority is to protect the wider interests of the game and maintain the highest standards of conduct in football. “The manager of the England men’s senior team is a position which must demonstrate strong leadership and show respect for the integrity of the game at all times.” Allardyce succeeded Roy Hodgson in July following England’s disastrous performance at Euro 2016 in France and becomes the national side’s shortest-serving full-time manager. The Daily Telegraph said Allardyce met with undercover reporters posing as businessman before he took charge of his first England training session. During the meeting, which was recorded on camera, it is alleged Allardyce said it was “not a problem” to bypass rules on third-party player ownership and claimed he knew of agents who were “doing it all the time.”

Adepoju

NFF to decide – Onigbinde

t is the administrators who will decide. The Nigeria Football Federation officials are the ones to look at the issue and decide on how it can be implemented. They are in charge of that.

Onigbinde

Adegboye Onigbinde Former Super Eagles coach

Coach should to choose venue –Lawal

he NFF has already chosen Port Harcourt, where they think the matches should be played, I would have said the coach should decide where the matches should be played but he doesn’t know anywhere in Nigeria now. If the NFF thinks Port Harcourt is the best, so be it. Garba Lawal Ex- international

Lawal

State governments helping out –Eguavoen

deally, the national team should be playing at the National Stadium in Abuja, but a lot of governors have been magnanimously supporting the NFF and the Nigerian football. By so doing, they tell the NFF that they want to host those games the game as well as providing funds to ease off pressure from the federation. Anywhere a game is taken to should be considered as part of Nigeria. So the Super Eagles can play anywhere but ideally they should have a permanent place where I think should be Abuja. Austin Eguavoen Ex-Eagles coach

Eguavoen

Eagles don’t need a permanent home – Chukwu

Alonso: Bayern not on revenge mission W B ayern Munich midfielder Xabi Alonso insists his side will not be motivated by revenge when they face Atletico Madrid in the Champions League for the second time in five months on Wednesday. Bayern’s dreams of a sixth European Cup title were brought to an end by Atletico at the

semi-final stage last season, the German heavyweights tumbling out on away goals despite winning the second leg 2-1 at home. The two sides have since been paired together in the group stages of this season’s competition, but Alonso says Bayern will be looking forward rather

than back to what happened in April. Asked if there was a desire for revenge, Alonso told Marca: “No, sometimes you win and sometimes you lose. That’s football. We couldn’t do it last year. They got to the final and we had to settle for watching it on television.”

e don’t need a permanent place. We play in different places because it depends on the weather. The weather condition of the opponents, countries is always a major consideration. Nigeria is our home irrespective of wherever the game is played and there will be total support for the team. We don’t have a particular place we can call our home. Other countries play in their capitals and I think we should be playing in Abuja but it is good we are spreading it to other places too. Christian Chukwu Ex-Eagles coach

Alonso

Compiled by: Ifeanyi Anyaka, Ikenna Amadi, Ugochi Akwueze, Samuel Ebhodaghe and Ubong Emmanuel

On Marble

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

Sanctity of Truth

Bola Bolawole Elections and the hurdle of attitudes

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

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WEDNESDAY, SEPTEMBER 28, 2016

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National security and critical assests

believe and subscribe to the notion that governments are elected to solve problems and find solutions to complex national challenges. In countries organized around political parties, the Parties and their candidates articulate and roll out what they consider as more realistic and sellable programs and policies for the solution of the problems of the country. The Parties and their candidates’ also campaign vigorously to convince the voters that their programmes and policies will lift the country and propel it to better economic and social progress. The Parties move out to convince the people to vote for them on the ground that their candidates have the charisma, the intellect, the vision, the empathy and the staying power to pilot the affairs of the country. Of course, their point of departure is that the Party in power and their candidates have lost the moral right to remain in governance due to poverty of vision and the failure of near failure of their policies and programmes. The new, Party that wants to supplant the Party in power articulates and offers superior arguments on why the people should abandon the ruling party and its something new. The ruling Party or the Party in power and their candidates may insist and acknowledge that there are challenges in the social and economic life of the people and still urge the people to remain with the party and not engage in and embark on a journey to an uncharted territory. These are the variables and these are the dynamics. Unfortunately, in the circumstances of Nigeria, some of the Political parties and their candidates make promises that they on their own hardly understand. Some of the Parties and their candidates will refuse to carry out study and research on issues and challenges of governance and continue to perambulate with truckload of promises that the economy and social structure cannot contain and or finance. Some of the parties and their candidates want power and yet they cannot conduct good research on how to realize the intendment of the promises they make to the people. The ones in power having lost the confidence of the people keep lying, borrowing and hiding the true nature of the problems and challenges of the country from the people. Some of them continue to live big, appropriating the commonwealth or the people without appropriation. The meeting point between the ruling party and some of the Parties that wants to supplant them or the one that has supplanted them is that anytime the nation is in crisis, rather than find creative solution to the crisis, they push the burden to the ordinary people as if the people must be punished for exercising their franchise. Some of the parties and their candidates do not care that most of our people are on the fringe of government and governance and that the quantum of governance and government in their lives is zero. Not only that, some of the parties, their candidates, cronies and family members have completely destroyed and run down the few government institutions, agencies, corporations and companies set up by some of their patriotic colleagues to render affordable services to the ordinary people of Nigeria. Some of the members

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

Bukolsa Saraki, Senate President

of the political elite kidnapped some of these institutions, agencies and companies and appointed their incompetent brothers, sisters and cronies to manage them and they on their part assisted in running them down. When they do this, they either concession the companies and agencies to themselves by taking depositors monies from the bank or they sell to themselves and to their friends at ridiculous amounts. I think that the Nigerian people have had enough of deception in the name of privatization, commercialization and outright sale of its critical national assets. The current government and their friends should not be allowed to sell critical national assets with security implications. Some of the things that they have lined

Government and their friends should not be allowed to sell critical national assets

up to sell and which their friends in the private sector, the National Assembly and the Executive are canvassing to sell are things that the Constitution said should not be sold to private individuals. Selling the critical national assets defeats the essence and purpose of government and amounts to a clear breach of the Constitution of the Federal Republic of Nigeria, 1999(as amended) which they swore to respect and uphold. It is axiomatic that the Nigerian people “firmly and solemnly resolved” to provide for a Constitution for the purpose of promoting the good government and welfare of all persons in the country on the principles of Freedom, Equality and Justice and for the purpose of consolidating the unity of our people. On the basis of this solemn declaration, the Constitution declared its own supremacy making it mandatory for it to have binding force on all authorities and persons throughout the Federal Republic of Nigeria. Furthermore, section 14(2) (b) of the Constitution provides that the security and welfare of the people shall be the primary purpose of government. The question that the Nigerian people must ask the government and those proposing the sale of critical national assets is whether the sale accords with the primary purpose of government in providing for the security and welfare of the people? Not only that, it seems that the promoters and proponents of the sale of critical national assets have not read that Fundamental Objectives and Directive Principles of State Policy or that they have absolute contempt for the first principles declared in the Constitution. It is important for patriots to draw the attention of the government to the provisions of section 16(1) (a) of the Constitution which makes it mandatory for the State to “harness the resources of the nation and promote national prosperity and an efficient, a dynamic and self reliant economy”. It is important to draw their attention to section 16(1) (b) which makes it mandatory that the State shall “control the national economy in such manner as to secure the maximum welfare, freedom and happiness of every citizen on the basis of social justice, equality of status and opportunities”. It is important to draw their attention to the fact that the Constitution expects and mandates the State to manage and operate the major sectors of the economy. it is important to draw their attention to section 16(2) of the Constitution that mandates the State to direct its policy towards ensuring the promotion of a planned and balanced economic development and ensure “that the material resources of the Nation are harnessed and distributed as best as possible to serve the common good”. The proponents of the sale of critical national assets are aware and cannot pre-

tend that they are not aware that section 16(2)(c) of the Constitution enjoins and mandates the State to direct its policy towards ensuring “that the economic system is not operated in such a manner as to permit the concentration of wealth or the means of production and exchange in the hands of a few individuals or of a group”. The solution to the economic problems of Nigeria must never be reduced to heaping additional burden on the Nigerian people who have enough burdens on their shoulders and do not have the shoulder to carry more. The government must find creative means out of the current economic situation that does not involve compromising national security and provoking the ordinary people that are already frustrated. No government ever hands over its entire national security architecture to private citizens or private individuals. The assets that the economic predators are targeting are too critical to the security of the nation and must on no account be compromised. The government must learn how to lead by example. Those in government must show personal commitment in the efforts to reenergize the economy. Those of them that are hiding the commonwealth of the country should lead by example and repatriate the funds. The members of the National Assembly, the Ministers, Special Advisers, Directors and various Chief Executives must cut their allowances and reduce the unnecessary economic burden imposed on the country through extravagant lifestyles. They must block the deliberate leakages and inflation of contracts in their various Ministries, Agencies and Departments. They should also appoint competent and professional persons and individuals to superintend the critical national institutions. It is dumb to sell the dummy to the Nigerian people that recession will evaporate the moment critical national assets are sold.

HIGH CHIEF

RECESSION: BUHARI 'LL TAKE US ACROSS RED SEA –Osinbajo

- With empty stomach?

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