NIGERIA’S MOST INFORMATIVE NEWSPAPER NO 16,582
MONDAY, 5 SEPTEMBER, 2016 www.tribuneonlineng.com
Nigerian Tribune
@nigeriantribune
TODAY'S SPECIAL
6 ways to make Naira last longer in your pocket By Sulaimon Olanrewaju
last longer.
A time of economic recession is often tough time because of paucity of funds. Recession is characterised by low economic activities which results in slow circulation of money. Therefore, one of the best ways to survive a recession is being mindful of how the little money available is spent with a view to stretching it for as long as possible. Here are six ways by which your naira can be made to
Salary breakdown: Senators, Reps earn N6.78bn annually —Report —P12
Plan your spending As a high school student with limited resources, I devised a strategy to ensure that I was not stuck at any point during the month despite the littleness of my allowance. What I did was to divide whatever allowance
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N150
HID Awolowo Foundation to be unveiled Sept 19
TSA not stifling banks —CBN gov —P6
Continues pg10
•Says policies meant to revive economy •Vows to pursue price, financial system stability, inclusive growth •Nigeria cannot continue to depend on importation of goods that could be sourced locally, he adds —P4 Ondo APC primaries:
Abraham, Olabimtan applaud process •As Oke kicks —P31
At the canonisation of Mother Theresa of Calcutta, Pope Francis waves to the faithful after the holy Mass. PHOTO: AFP/GETTY IMAGES.
My last moment with my wife —Prophet Abiara —P30
Letter to Kerry: FG tackles US Congressman —P6
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businessnews
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TSA not stifling banks —CBN gov
•Says policies meant to revive economy •Vows to pursue price, financial system stability and inclusive growth Sanya Adejokun-Abuja
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OVERNOR of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele has explained that the Treasury Single Account (TSA) was one of the best and boldest decisions any administration in the country had so far taken. According to him, the impression that the TSA was stifling banks was created to draw unnecessary sympathy, adding, “It is unfortunate that this is the way the banks have interpreted it. When I was in the bank, how much loan did I give you as a Small and Medium-sized enterprise?” The governor, who delivered a lecture to participants of the Senior Executive Course 38 at the National Institute of Policy and Strategic Studies in Kuru, near Jos, on Friday, added that the bank has decided to take hard decisions in order to revive the economy in a sustainable way. According to him, “it is apparent that we as a people cannot continue to depend on other countries for things that can easily be produced locally. How do we justify the importation of items like eggs from South Africa, beef from Zambia and toothpick from China? “When you have policies that people are praising, that means such policies are not really good, because the people praising the policies know that they can circumvent them. But if people criticise your policies, especially in Nigeria, such policies are good; the people criticise them because they know that they cannot circumvent them.” The governor noted the CBN witnessed a significant decline in our FX Reserves from about US$42.8 billion in January 2014 to about US$25.7 billion today. “Despite these outcomes, the demand for FX has risen significantly. For example, in 2005 when we had oil prices at about US$50 per barrel for an extended period of time, our monthly average import bill was N12.4 billion. “In stark contrast, our average import bill for 2015 stood at about N76.5 billion per month. Unfortunately, the interplay between reduced FX supply highlighted above and rising FX demand accounted for a substantial drain on our reserves”, he explained. He appealed to Nigerians to face the reality of the fact that these are not normal times across the globe and therefore hard choices are required to turn around the situation. Emefiele therefore, vowed to deploy appropri-
ate monetary policy tools “to attain and inclusive growth by bolstering productive capacity and ensuring that Nigerian economy is indeed self-sufficient.” According to him, “developments over the last two years show that these are not normal times by any stretch of imagination” and noted that “the CBN has always tried to
act in good faith, with the best available information and in cognizance of current economic conditions, to pursue the goals of price and financial system stability, as well as catalyze job creation and inclusive growth in the country.” He therefore urged that “we should remain resolutely committed to the course and be motivated
by the achievability of our desire to strengthen the economic fundamentals.” Emefiele recalled that “20 years ago, we had textile, we had the groundnut pyramids, Cocoa with which the legendry Cocoa House was built and palm oil. We also used revenue from agriculture to build our economy. But after we found oil, we abandoned all that for easy
money. Today, we are suffering the consequences.” Responding to a question by one of the course participants bothering single treasury account (TSA), Emefiele, said that the introduction of the Treasury Single Account was one of the best and boldest decision any administration in the country had so far taken.
From left, Chief Executive Officer, Topaz Sports, Mr. Odogu Edwin; Executive Director, Heritage Bank, Mr. Niyi Adeosun and Managing Director, Lexicon Communications/Project Consultant, Skoolymics, Mr. Moses Nwanze, during a press conference on Heritage Bank’s forum/presentation of Skoolymics in Lagos on Friday.
Recession: MAN advises FG on infrastructure THE Manufacturers Association of Nigeria (MAN) advised the Federal Government to reposition the manufacturing sector to improve on the current economic situation. Its president, Frank Jacobs, gave the advice in an interview with the News Agency of Nigeria (NAN) in Abuja on Sunday. Jacobs was reacting to the recent statistics on inflation released by the National Bureau of Statistics (NBS) that put the rate of inflation in the country at 17.1 percent in July.
“An inflation rate of 17.1 percent, as reported by the National Bureau of Statistics, is severely harmful to the economy. It is significantly responsible for the rolling contraction in Nigeria’s output since the first quarter of 2016 when the economy grew by -0.36 per cent and in the second quarter by -2.06 per cent. Over the period mentioned above, the cost of raw materials and manufacturing inputs had risen while capacity utilisation declined,” he said. According to him, work-
ing capital in the sector has increased beyond the norm. Jacobs said the aggregate consumption of household goods had fallen due to high inflation that had reduced significantly the real family income. The president said issues like: unemployment, wealth creation and internally generated revenue would be tackled if government could reposition the industrial/manufacturing sector through viable policies. ``The diversification of
Auctioneers lament high corruption in disposal of govt assets Sanya Adejokun-Abuja
OVER 18 months after its eventual sale to NATCON, Nigeria Association of Auctioneers (NAU) has called upon President Muhammadu Buhari to scrutinise the privatisation of Nitel/ Mtel in December 2014 transactions with a view to cancelling it. President of the association, Alhaji Aliyu Kaliya who spoke in Abuja on Friday also challenged the Bureau of Public Procurement to public a distinction between public assets to be disposed through open competitive bidding or auction and those to be sold through secret bid-
ding. Kaliya while insisting that Nitel/Mtel ought to have fetched at least $1 billion in view of it expansive core and non-core assets scattered all over the country and beyond, said Nigerians were shortchanged in the transaction. Nitel/Mtel was eventually disposed of in December 2014 for $252.251 million after many previous attempts failed and a liquidator was appointed by the BPE. The President of NUA said that unlike what happened in the privatisation of successor companies of Power Holding Company
of Nigeria (PHCN), BPE did not separate core assets from non-core assets during the sale of NITEL/ Mtel. According to him, “the assets of Nitel/Mtel was very much under declared”, and express anguish that all the entreaties made by his association to the BPE and Federal Government against giving out the company out cheaply fell on deaf ears. Kaliya also alleged that public officials were illegally helping themselves by pretending to dispose of confiscated and boarded items transparently through sealed bids.
the economy cannot be truly achieved if the manufacturing sector is neglected.’’ He urged government to implement its resourcebased industrialisation and backward integration policies in developing key mineral resources. Jacobs said this should include those with high inter-industry linkage such as: iron ore, zinc-led, bitumen, limestone and coal. He said policies geared toward backward integration in the agricultural sector would serve as catalyst to the provision of food for Nigerians and industrial input for the manufacturing sector. He explained that the deregulation of the downstream petroleum sector should be pursued vigorously to encourage private investment in domestic refining and petrochemical industry. Jacobs said the current special foreign exchange window created by the Central Bank of Nigeria (CBN) for importation of industrial raw-materials and machinery should be well managed and transparently too. ``At this period that the economy has gone into full recession, government must address the real issues that led to the inflation and adopt economic policies that will mitigate
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Skye Bank pledges exciting e-banking services to customers SKYE Bank’s Executive Director, Technology and Services, Mr. Innocent Ike, has said the bank’s electronic channels and ebanking services delivers exciting and hassle-free banking experience for its customers and subscribers. Speaking recently to newsmen on the features of the Bank’s e-channels and internet banking platforms, Mr. Ike explained that technological innovation has simplified hitherto complex and laborious banking services. According to him, “Today, most Nigerians sit in the comfort of their living rooms to carry out transactions at the click of a button, adding that “Internet users are now smarter and ready to embrace seamless services offered by Skye Bank.” Citing the case of Skye Bank, he noted that; “with our solutions, customers carry out bank transfers in split seconds without the rigors of the cumbersome and often tiring internet banking token system.” Skye Bank, he said, has also made bill payment on internet banking hasslefree, as customers can conveniently use the platform to pay utility bills. Customers can also check their account balance and details of previous transactions via the Skye Mobile app and the Skye USSD code, *833#. He also used the opportunity to explain the Bank’s recent increase in customers’ daily and monthly international spend to a higher limit on both MasterCard debit cards and Platinum Master Card debit card users. This, he noted, was in line with the Bank’s customercentric posture as a leading retail bank. Skye Bank has won several awards for its leading role in ICT investment. The Bank recently got re-certified by the British Standard Institution in three International Standard Organizations (ISO): IT Service Management; Business Continuity and Information Security.
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Private firms to handle personalising, printing of e-ID cards —NIMC • Says 11million Nigerians registered in national database Adetola BademosiAbuja
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HE National Identity Management Commission (NIMC), at the weekend, said plans were underway to outsource the personalising and printing of the National e-ID Card to private printing bureaus. It said this would help clear the backlog of the unprinted cards and allow for prompt collection of these cards by their owners. Director-General of the commission, Mr Aliyu Aziz, in his explanation, said outsourcing the card printing to other printing bureaus in Nigeria would also ensure that Nigerians who enrolled for the National Identification Number (NIN) would get the National e-ID Card immediately or within a maximum period of seven days. Aziz, in a statement issued by the Head of Corporate Communications, Loveday Ogbonna, in Abuja, also disclosed that so far, over 11 million unique data had been registered into the National Identity Database (NIDB). In his breakdown, he said about one million National e-ID Cards had been printed, adding that over 400,000 of these cards had since been issued to their owners. The Director-General also pointed out that most of the unissued cards were lying in the NIMC state offices, saying “the owners are yet to come and collect them.” While stating the financial status of the commission, he said: “Although the commission is recently facing funding challenges which seems to be slowing down its planned activities and timeliness; this was not peculiar to the commission as the country is currently undergoing economic restructuring and scarcity of funds, as such, allocations are not readily made available to MDAs, including NIMC. He, however, affirmed that: “This is a temporary interruption that will soon be over, as government is geared towards reinvigorating the funding mechanism for the commission. “However, the funding challenge has not deterred NIMC from carrying out its obligations, as it has continued to provide service at its over 400 enrolment centres
across the country and the number of citizens who have obtained their NIN has continued to increase, even as more Nigerians have been urged to go to the
closest NIMC enrolment centres to register. “NIMC has also refocused its efforts on the harmonisation of data with other agencies, as it has become
• 400,000 e-ID cards so far issued, it adds
imperative to ensure we ramp up the records in the National Identity Database to deliver better service to the nation.” On the harmonisation
of data with banks, he said: “We have commenced harmonisation with the Nigeria Inter-Bank Settlement System (NIBSS) on the Bank Verification Number (BVN)
Temporary ram market on Kubwa-Suleja highway, Abuja, on Sunday. PHOTO: NAN
HID Awolowo Foundation to be unveiled Sept 19 By Segun Adebayo ONE year after her glorious exit, a foundation to immortalise the industry, sacrifice and commitment to humanity of Chief (Mrs) Hannah Idowu Dideolu Awolowo will be unveiled on September 19, at the residence of the Awolowos in Ikenne Remo, Ogun State. In a statement signed by the Executive Director/ founding member, Obafemi Awolowo Foundation, Dr Olatokunbo Awolowo Dosumu, the high-profile occasion is expected to attract qualitative audience of distinguished men and women across the nation and chaired by Mrs Ayo Obe, a lawyer, human rights activist and public intellectual. As part of the grand ceremony, the HID Awolowo Foundation Advisory Council will be inaugurated, while a commemorative lecture will be delivered by Dr Joe Okei-Odumakin, a human rights advocate and gender empowerment activist. According to the statement, “the HID Awolowo Foundation is being launched under the aegis of the Obafemi Awolowo Foundation, with the aim of perpetuating the edifying legacy of Yeye Oodua HID Awolowo, the charac-
ter of which was complimentary and contributed significantly to the success of the life mission of her husband, Chief Obafemi Awolowo. “In doing this, we are eager to ensure that the notable qualities of Yeye Oodua HID Awolowo, her
statesmanship and perseverance in the face of adversary continue to inform the national architecture of values and character building.” The foundation, the statement noted, “will exist as a Research and Advocacy Institute, inde-
pendent, non-profit and non-partisan, with the core objective of propagating the ideals of Yeye Oodua HID Awolowo, who served her country and people meritoriously and selflessly and whose place in the political history of Nigeria is assured.”
records, so, anyone that has registered for the BVN will get NIN. So far, we have processed two million records from the BVN data collected. “In addition, the Nigerian Communications Commission (NCC) has also agreed to release data from the ongoing Subscriber Identification Module (SIM) cards registration exercise to the commission, all these are in line with the Federal Government’s directive to sister agencies collecting biometrics to harmonise and integrate with the NIMC being the central repository of biometric data in Nigeria.” He, however, projected that the commission should have over 100 million record of Nigerians in the central database. His words: “By 2019, it is projected that NIMC should have over a 100 million unique record at the central database. “At that time, we would have commenced the enforcement of the mandatory use of the NIN for all services and transactions requiring the authentication and verification to confirm individual’s identity. “At that time also, whoever that has not enrolled (and is not a child) will be required to pay a token in order to get enrolled for the NIN. So it is advisable for everyone to get enrolled and get the NIN before that times comes.”
FG tackles US Congressman over controversial letter Christian Okeke - Abuja MINISTER of Information and Culture, Alhaji Lai Mohammed, on Sunday, tackled the United States (US) Congressman, Tom Marino, over his published letter to Secretary of State, John Kerry, asking the US to refrain from selling warplanes and other military equipment to Nigeria until President Muhammadu Buhari “demonstrates commitment to inclusive government and the most basic tenets of democracy— freedom to assemble and freedom of speech.” The minister, in a statement, said the US lawmaker engaged in propaganda of his own imagination and was sadly out of tune with reality. In the statement, the minister said Marino was poorly informed about the issues he commented on, wondering why he did not
take the pains to get firsthand information from the US Embassy in Nigeria or any other credible source before writing his letter. Mohammed noted that by asking the US to refrain from selling warplanes and other military equipment to Nigeria based on a faulty premise, the Congressman demonstrated a poor understanding of global security issues. According to him, Marino did not have Nigeria in mind when he wrote that the US should withhold security assistance to Nigeria, adding that Marino’s description of the administration’s anti-corruption efforts as selective as a tired argument that clearly showed that the US lawmaker must have appended his signature to someone’s concocted lie. He said: “Insecurity anywhere is insecurity everywhere. Had Congressman Marino understood
this, he would not have made the kind of call he made concerning the US security assistance to Nigeria. “The Boko Haram insurgency that Nigeria has decisively dealt with under President Muhammadu Buhari is not just a Nigerian problem, but regional and international crisis. “An administration that operates purely on the basis of respect for the rule of law and a strict adherence to constitutional order is not one to deny the citizens of their constitutionallyguaranteed rights. This administration, therefore, does not need the goading of Congressman Marino or anyone for that matter to do what is right. “Concerning running an inclusive government, had Congressman Marino done his homework before dispatching his letter, he would have realised that no part of the country is
left out in the distribution of political appointments, for example, or in the appointment of ministers, which was done in accordance with the constitution that mandates that the president must appoint minimum of one minister from each of the 36 states and the Federal Capital Territory. “Had the Congressman sought information from credible sources before engaging in a flight of fancy, he would have been presented with a comprehensive information on the appointment of CEOs for Federal Government’s parastatals, agencies and commissions that show that the appoinments were almost evenly made along the line of the six geopolitical zones in the country, with the North-West having 51, North-Central 46, North-East 45, SouthEast 41, South-West 45 and South-South 45,’’ he said.
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Lagosmetro Lagos seals off 37 illegal pharmacies Newton-Ray Ukwuoma
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GAIN, the Lagos State government has sealed off 37 pharmacies in its bid to stamp out proliferation of illegal pharmaceutical outlets. The Special Adviser to the Governor on Primary Healthcare, Dr Olufemi Onanuga, disclosed this in a statememt after a recent raid of Ikorodu Local Government Area by the State Task force on Counterfeit, Fake Drugs and Unwholesome Processed Foods, in conjunction with representatives of National Agency for Food Drug Administration and Control (NAFDAC), Pharmacists’ Council of Nigeria (PCN), Pharmaceutical Society of Nigeria Federal Taskforce and Officers of the State Rapid Respond Squad (RRS). Onanuga said 37 out of 49 outlets visited in Ikorodu Central, Agric, Agbede, Ita-Oluwo, Eyita, Odongunyan, Igbogbo, Itamaga and Ijede were sealed off for various of-
fences ranging from engaging quacks, operating beyond their scope through sales of unethical products and dispensing drugs to unsuspecting citizens of the state. Other offenders include illegal operators of unregistered premises, who displayed and stored drugs in an unconducive environment. According to Onanuga, the sealing off of the pharmacies and patent medicine stores was in accordance with the provision of the Counterfeit, Fake Drugs and Unwholesome Processed Foods (Miscellaneous Provision) Act of 1999, Number 25. “Licensed patent medicine vendors are authorised to sell only drug products in their original packs in approved pack size as produced by the manufacturing companies. The law prohibits dispensing and wholesaling of drugs by patent medicine vendors,” he remarked. It will be recalled that the task force had earlier sealed off over 40 illegal
Man allegedly tortures, kills friend over Nokia phone Ayomide Owonibi Odekanyin A 25-year-old unemployed man, Muhammed (Surname withheld), has been accused of killing his friend by hitting him on the head with a wooden plank. Mohammed, who hails from Kaduna State, was arrested by operatives of the State Criminal Investigation and Intelligence Department (SCIID), Yaba, for allegedly killing a 23-year-old man, Kwatri Dalikwada. It was gathered that the accused allegedly used a wooden plank to hit the deceased on his head, which caused his death at Adamawa Village, FESTAC. Trouble started when Muhammed gave the deceased his Nokia phone to keep. But when he later asked for his phone, the deceased could not provide the Nokia phone. Thereafter, Muhammed, who got angry, was said to have called a neighbour named Babalele (now at large), to join him to torture the deceased.
Mohammed and Babalele were said to have used a cable wire to beat the deceased. Not satisfied, the defendant used a plank to hit Dalikwada. The deceased was immediately rushed to a hospital after the incident, but later died around 11.00p.m, on August 3. Muhammed was charged before an Ebute Metta Magistrate Court and the presiding Magistrate, H.O. Omisore, ordered him to be remanded in prison custody till October 6.
pharmaceutical outlets. He warned also that the activities of the state task force on fake drugs would be sustained until operators in the sector adhered strictly to the provisions of the law on the operation of pharmacies and patent medicine stores, in order
to safeguard the health of the citizens of the state. He stated that an investigative meeting would be held on Thursday, September 8, 2016 at the Pharmaceutical Inspectorate Unit of the ministry where members of the task force would meet with owners
of the sealed premises to make further enquires on the status of the sealed premises and notify them of the procedures and appropriate conditions to be met for reopening, in line with regulations, and payment of administrative fee to the state government.
A man being arrested by officials of KIA for crossing the express road at Oshodi/Agege Road, on Sunday. PHOTO: OVADJE
Man hangs self over quarrel with wife We are working on possible murder case —Police Akin Adewakun A man, simply identified as Tunde by neighbours, reportedly hanged himself at Aboru, in Agbado Oke Odo Local Council Development Area of Lagos, in the early hours of Sunday, following a quarrel with his wife. The deceased’s wife, who was said to have abandoned her matrimonial home, following one of those disagreements with the deceased, as of press time, was not available for comments. The lifeless body of the deceased, who lived on Tokyo Street, Edun, in Aboru, was said to have been dis-
covered by neighbours in the early hours of Sunday, in an uncompleted building on Aluko street, in the same area. While the deceased’s body had been removed when Lagos Metro visited the area, some of the residents, who spoke with Lagos Metro, stated that the deceased had been having a running battle with his wife in the past few weeks, a development that eventually led to the woman packing out of her matrimonial home. “The guy is a commercial motorcyclist in this area, but for the past few weeks, he had been having a running battle with his wife, a devel-
opment that led to the wife leaving the house for him. “This could be one of the reasons the deceased decided to call it quit,” said a resident, who did not want his name in print. Confirming the incident, the spokesperson for Lagos State police command, Dolapo Badmos, stated that the command was working on the probability of the deceased strangled to death and hanged by unknown assailants. She, however, assured that the command would do everything within its power to unravel the mystery surrounding the incident.
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Lanre Adewole olanreade@yahoo.com
0811 695 4647
How herbalist robbed patient’s 81-year-old mother Olalekan Olabulo A member of a two-man robbery gang has exposed how his gang took advantage of a festering sore on one of the legs of the daughter of an 81-year-old woman to rob the octogenarian. The suspect, Segun (surname withheld), who was arrested by operatives of the Rapid Response Squad, claimed that an herbalist, simply identified as Ademola, who healed the daughter of the woman, perfected the robbery. Segun and Ademola had, last weekend, invaded the old woman’s residence at Oduduwa Street, in Itire area of Lagos State and robbed the old woman of her valuables. The duo had collected $10,000, £5,000 and N100,000 and a box containing assorted jewellery from their victim at about 8:00 p.m, at the weekend. While confessing at the RRS’s headquarters, Taiwo stated that he was only invited into the robbery by the herbalist, who promised to give him 50 per cent from the loot. While explaining how they got clue before carrying out the operation, he said “the mastermind is an herbalist. He was treating the woman’s daughter (name withheld), who had sore on her right foot.” The image maker in charge of the state police command, Dolapo Badmos, confirmed the arrest of the suspect and added that he had been transferred to the Special Anti Robbery Squad of the state police command.
Woman abducts 2 children at Ojuwoye market Olalekan Olabulo THE popular Ojuwoye market in Mushin area of Lagos State was, on Saturday, thrown into confusion, as a woman abducted two children of the same mother in the market. The abducted children, six-year-old Hammed Rasheed and two-year-old Farida Rasheed, were later rescued by policemen from
Olosan Divisional Police Station. The suspect, who had been pretending to be deaf and dumb, had been arrested by the police. It was gathered that the abductor had wandered around the market before she abducted the two children near their mother’s shop. A police source at the state police command headquar-
ters told Lagos Metro that the suspect was taking away the children when somebody identified them and raised the alarm. The police source said: “The woman might have gone to the market purposely to abduct the children. She has refused to talk since her arrest and has been behaving as if she’s mentally ill.” He added that “the woman
had reportedly wandered around the market, but since the place was a public place, traders could not confront her on her mission. “She was backing the younger one and holding the elder brother and had left the vicinity of the market when she was arrested,” he said. The image maker in charge of the state police command, Dolapo Badmos, confirmed
the arrest of the woman to Lagos Metro. Badmos also said the suspect had refused to cooperate with the police when she was asked of her name, mission in the market and why she abducted the children. The police spokesperson added that the children had been re-united with their family and assured that the police would properly investigate the incident.
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Monday, 5 September, 2016 10 news 6 ways to make Naira last longer in your pocket Continued from front page
I had into four and spent a quarter per week. If I exhausted the portion for a week before the week ran out, I would not touch the portion for another week; I would have to endure till the following week. By deploying this strategy, I was able to stretch my allowance. I have found out that this strategy works for anyone who will adopt it and is even more applicable in a recession. So, to stretch your naira, plan your spending and refrain from exceeding the allotment for a week to guard against being stranded at any point. Added to this is the need to have a budget. Although many Nigerians are averse to budgeting probably because of the not so good example we get from our country, it is still a very important tool for staying solvent. Once the income is known, the expenditure should be charted with every kobo accounted for. Doing this will prevent putting money in unnecessary and unplanned activities.
Track your spending Louis V. Gerstner, former IBM chairman, counsels that one should not expect what one is unwilling to inspect. Although this advice is primarily meant for company executives and other leaders, it also comes handy in money management. It is good to plan one’s finances. But planning without tracking will not deliver the expected outcome. Going back constantly to the budget to find out the level of compliance is very important. The rich remain rich because they never stop tracking their money; they want to know where their resources are going with the attendant benefits. It is a strategy that could be deployed to one’s benefit. Tracking expenditure will save one from embarking on impulsive purchases that can leave one high and dry. Buy in bulk For as much as it is possible, it pays to buy in bulk because doing so confers some advantages on the buyer. What to do is to
source for shops that give discounts for bulk purchase as well as those that are doing clearance sales or promos and buy from them. The money saved from this could be put to other uses. Buying in bulk also guarantees that the materials bought in bulk would be available for a length of time. It could be unsettling to find out that certain items needed have been exhausted when finances have run low. Bulk purchase is a way out of that situation.
Go about with less cash and no card The undoing of many of us is impulse buying. We buy things we don’t need sometimes because of the momentary appeal they hold for us. But doing that puts us in trouble later. We also travel the route of buying what we don’t need because we don’t want to offend the vendors. But since one cannot give what one does not have, going about with just the needed cash and keeping the debit card safely at home will keep one from financial harm’s way.
Do less of cash transfer As convenient as cash transfer is, it comes at a cost. While this may not always be possible, for as much as it is possible make cash payment or issue cheques and save yourself from the commission you have to pay for electronic cash transfer. Although the money paid is sometimes negligible, the word of Richard Whatley, former Archbishop of Dublin that “If you lose an hour in the morning, you will spend all day looking for it” could be applied to money management. If you lose a couple of N165 to electronic money transfer, you will spend the rest of the month looking for it. Save loose change It is customary of many of us to leave our loose change with the shop or fuel attendant. Generosity is a virtue, no doubt but if the loose change that is left uncollected is tracked, it could amount to a sizeable amount overtime. So, collect your loose change and keep, you never know when you are going to need it.
No Nigerian pilgrim executed in Saudi —Muslim Media Watch
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HE Muslim Media Watch Group of Nigeria has debunked as untrue, the report that three pilgrims arrested among Kwara State
pilgrims to this year’s hajj have been executed. The group, in a statement by Mallam Ibrahim Abdullahi, its national coordinator, said after its investiga-
DSS nabs IED specialist, 21 other criminals Jacob Segun Olatunji -Abuja THE Department of State Services (DSS) has nabbed the Improvised Explosive Devices (IED) specialist of the Boko Haram sect and one of his cohorts at the point of regrouping of the members of the scattered group in Kano State. The suspects, according to a statement from the Service, signed by Tony Opuiyo and made available to newsmen in Abuja, on Sunday, are Ibrahim Ustaz ABUBAKAR and Idris AUDU (aka AYA). In addition, the Service also announced the arrest of other 21 notorious criminals, who specialised in highbrow kidnapping of foreigners,women and children, robbery operations and impersonation of very important personalities (VIPs) in the society, including the Accountant-General of the Federation and the Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC). Also, six of the suspected kidnappers were said to have received a sum of N163 million as ransom from their victims before the were arrested during different operations carried out alongside other security agencies. According to the Service, “Audu is an IED specialist, who was being groomed to penetrate security agencies in the country. He had
already perfected plans to seek recruitment into the Nigerian Army during the next recruitment scheme before his arrest.” In a related development, the Service has arrested one Abbas Mohammed at Asokoro, Abuja. He was allegedly sending several threat messages to the Ukranian Ambassador to Nigeria. Preliminary investigation revealed that Mohammed was formerly employed by the embassy as a driver, but he began threatening his former employer after losing his job arising from observed gross acts of insubordination from him to his employers.
tion, it found out that the report was false. The statement said both the Kingdom of Saudi Arabia and leader of Kwara State delegation to the pilgrimage, Justice Idris Abdullahi Haroon (retd), denied the report. According to it, Saudi authorities would never rush any action pertaining to life. “While not backing or condoning any act capable of tarnishing Nigeria’s good image abroad or in the country, the Muslim Media Watch Group of Nigeria condemns, in totality, irresponsible social media blackmail sponsored by unpatriotic elements, to create panic and confusion in Nigeria on the unfortunate incident. “Nigerians would recall that on this same story, the National Hajj Commission (NAHCON) had earlier reported about a week ago, that only two pilgrims were arrested and that they had been released, after sub-
jecting what they found on them to critical analysis; and was discovered not to be cocaine. This was given widest publicity in the media, upon which patriotic Nigerians jubilated. “How come a video that went viral in the last 72 hours in some social media networks came up? This trash that they posted gave
impression that the suspects have been beheaded in Saudi-Arabia. “The Muslim Media Watch Group of Nigeria, a non-governmental organisation (NGO) that is dedicated to high sense of professionalism in media practice, demand for probe of this embarrassing and damaging report by the Fed-
eral Government, to prevent future occurrences. “While we condemn, in strong terms, violation of any extant laws of any country by Nigerians, we take exception to deliberate falsehood, malicious publication and posts in any media capable of bringing the nation to disrepute,” the statement read.
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businessnews
Monday, 5 September, 2016
AMCON recovers over N644bn in 5 yrs, posts loss of N304.35bn in one year Chima Nwokoji-lagos
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N over five years of operation, the Asset Management Corporation of Nigeria (AMCON) has succeeded in recovering over N644 billion, even as it declared a 2015 loss of N304.35 billion ($982 mln), wider than previous year’s loss of N275.49 billion, after it wrote-down the value of collateral recovered from its purchase of bad loans. The “bad bank” on Friday, also said it has successfully settled over 56 per cent of the total N3.7 trillion (about N2.072 trillion) bad debts it had to manage from various individuals, groups and organisations in the country. Nigeria’s “bad bank” AMCON on Thursday posted a 2015 loss of N304.35 billion ($982 mln), wider than last year’s loss of N275.49 billion, after it wrote-down the value of collateral recovered from its purchase of bad loans. Executive Director, Aminu Ismail, said the 2015 loss was also partly due to interest paid on a N3.8 trillion ($12.3 bln) bond due to the central bank which it used to acquire the bad loans. AMCON was set up in 2010 to absorb bad loans as part of activities targeted at resolving a financial crisis in Nigeria. He further said NPL ratios jumped to 93 per cent of its total bad loans in 2015, up from 57 per cent a year earlier, as the weak economy impacted debt repayment. Ismail said AMCON stopped buying NPLs two years ago and was now focused on recoveries to enable it to wind-down its activity by 2023, when its debt to the central bank matures. Only recently, the corporation said its involvement in receivership of about 50 businesses and more than 180 businesses under enforcement do not mean that it is running businesses as perceived by some people, but plans to introduce the “realestate investment scheme” by the end of the year to raise money to meet its bond repayments, Chief Executive Officer, Ahmed Kuru, said in an interview. “It plans to sell the properties when the economy improves and the assets can attract fair value,” he was quoted as having said. “The agency is confiscating more assets than its receiving from its recovery
efforts as businesses battle to sell products and generate cash,” Kuru added. Companies that owe money to AMCON are struggling to meet their debts as the Nigerian economy heads for a recession because of a slump in crude prices that crippled foreign-exchange supplies. Meanwhile, a levy that sees banks pay 0.5 percent of their assets annually
generates as much as N190 billion for AMCON and is helping the agency fill funding gaps, Kuru said. The agency purchased about 14,000 nonperforming loans at a cost of N3.9 trillion in a government-led bailout of ten banks following the 2009 banking crisis. Although Mr. Kuru clarified that the settled cases did not translate into actual money in the
government’s purse, it was sufficient pointer that AMCON was already on its way to meeting its objective of protecting the country’s economy and removing bad debts in the financial system. The managing director said AMCON was neither set up to make profit within a 10-year lifespan, nor to kill businesses, but to deliver a social benefit of saving the economy
and businesses from bad debts. “The most important thing, like we always tell our debtors, is to come and talk to us. We are supposed to help them. We are supposed to support them. AMCON is not out to kill businesses, rather to support businesses. We have records to show businesses that we have supported and continued to support,” he stated.
From left, Economist and policy analyst, Dr. Ogho Okiti; MD/CEO, Airtel Nigeria, Segun Ogunsanya and Africa and Middle East Senior Economist, Bloomberg Intelligence, Mark Bohlund; at the 2nd Nigeria Stock Exchange and Bloomberg CEO’s round table in Lagos.
Forex scarcity: CBN welcomes portfolio investment from non-resident Nigerian nationals IN the continued effort to encourage portfolio investment in Nigeria and attract more foreign exchange, the Central Bank of Nigeria (CBN), has disclosed that resident Nigerian nationals and/or companies who bring foreign currency into the country through an Authorized Dealer are henceforth allowed to invest such funds in money market instruments, bonds and equities. This was stated in a latest circular to Authorized Dealers and the general public titled: ‘portfolio investment
in Nigeria, amendment of memorandum 21 of the foreign exchange manual,’ and signed by the Assistant Director, Trade and Exchange Department of the CBN W.D Gotring. Accordingly, the apex bank said the provision of Memorandum 21 of the Foreign Exchange Manual on the subject is hereby amended as follows: ”Any resident/ non-resident Nigeria national and or entities and foreign national or entity may invest in Nigeria by way of purchase of money market instruments such as Com-
mercial Papers, Negotiable Certificates of Deposits, Bankers Acceptances, Treasury Bills, etc.” This the CBN said, is subject to : tested SWIFT message evidencing the remittance of funds; Board resolution of the local beneficiary authorizing the investment (in the case of a company); purpose of capital importation specified in the SWIFT message; evidence of incorporation where applicable. On procedure, the central bank noted in the circular that the prospective investor will appoint a local bank
Naira strengthens to N422 at parallel market Chima Nwokoji-lagos
THE Nigerian currency on Friday, September 2 gained some upper hand over the American dollar at the parallel foreign exchange(forex) market, but lost some grounds to the greenback at the interbank market. The naira was exchanged at a rate of N422 to a dollar, making the Nigerian money to score 3 points from the N425 it was exchanged with a dollar on Thursday, September 1. More so, one British Pound sterling and a Euro
were bought for N535 and N464 respectively. At the interbank sector of the forex market, the naira spot rate depreciated to N214.77 against the dollar, compared to spot rate of N313.31 to the United States dollar exchanged on Thursday. The local unit at the same official window, was exchanged at N404.79 and N341.41 to one Pound Sterling and one Euro, respectively. Meanwhile, currency dealers at Afrinvest (West) Africa Limited said the derivatives product launched
by the Central Bank of Nigeria (CBN) on the FMDQ OTC platform has continued to gain traction, particularly the Naira Settled over the counter (OTC) Futures. The total value of futures contract as at Thursday, 1st September stood at US$2.8billion, rising US$1.1billion month on month (M-o-M). Similarly, News Agency of Nigeria reported on Sunday that Many Nigerian pilgrims currently in Saudi Arabia for this year’s pilgrimage say they have cut down on their spending following the fall in the value of the Naira.
as an agent to purchase the instruments and the funds for the investment are transferred electronically to a designated bank. “On receipt of the funds, the bank issues the investor with a Certificate of Capital Importation within 24 hours. Authorized Dealer shall keep separate records of the investment and render returns to CBN in format that will be advised from time to time; with the certificate, the investor through the bank or broker enters the market; invests in any instrument of his choice,” the circular read in part. It further stated that if the investor wants to divest, he shall go to the bank with the Certificate of Capital Importation and evidence of redemption of money market instrument. “For the avoidance of doubt, only funds inflowed through Authorized Dealer by resident/non-resident Nigerian nationals and companies specifically for purpose of investment shall be eligible. Consequently, balances on exports domiciliary and ordinary domiciliary accounts shall not be eligible for the investment,” the bank stated.
Nigerian Tribune
‘Int’l flights to Enugu airport will boost S/ East economy’ By Dapo Falade
THE South African chapter of the pan-Igbo sociocultural group, Ohaneze Ndigbo, has called on the Federal Government to approve more international flights for the Akanu Ibiam Airport, Enugu as a means to boost the economy of the SouthEast region. The founder of the group, Chief Jonas Udeji, made the call in a statement issued on the celebration of the New Yam Festival in Johannesburg, South Africa, a copy of which was made to available to the Nigerian Tribune on Monday. According to him, the need for more international flights to and from the airport became essential given the volume of business transactions in the region and the entrepreneurial skills of its people. “I appeal to the Federal Government to approve more international flights for the airport, especially from South Africa, because of the entrepreneurial skills of the people. “Majority of the people are in business and it will be more convenient to have direct flights to Enugu. It is always a burden to land at the Lagos or Abuja airports before connecting to Enugu. “Ohaneze Ndigbo in South Africa is happy with the commencement of cargo flight to the airport by Ethiopia Airways and we want more of such flights to the airport”, he said. Udeji said the celebration of the New Yam was significant because it would afford the people opportunity to reflect on their present status, achievements and plan their future. Also speaking in the vein, a South African-based university don, Professor Edwin Ijeoma, said the recent commencement of cargo flight by Ethiopian Airways to Enugu was a step in the right direction. This was as he said the airport deserved more international flights, adding that such a move would boost commerce and business in the south-eastern part of the country. Ijeoma, a Professor of Policy and Public Sector Economics, University of Fort Hare, South Africa, said, “I think it is a good development and it will be better for that to continue to happen because we have good number of passengers from eastern part of the country that do business in South Africa.
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news
Monday, 5 September, 2016
Salary breakdown: Senators, Reps earn N6.78bn annually
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T a time Nigerians are groaning under the yoke of recession, members of the National Assembly (NASS), comprising the Senators and members of House of Representatives have received a total sum of N6.78 billion as their official salaries and allowances in one year, investigation by Economic Confidential has revealed. The report, obtained by Economic Intelligence magazine showed the ‘legitimate’ remuneration of the federal legislators in compliance to the statutory approval of the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC). The remuneration packages include: annual salaries, accommodation, vehicle maintenance and fuel, personal assistants, house maintenance, domestic staff, entertainment and utilities allowances. Other allowances are; Constituency allowance, annual leave, hardship allowance, wardrobe, newspapers and responsibility allow-
ances. A careful scrutiny of the report shows that each Senator has annual salary of N2.02million while a member of House of Representatives receives N1.98million as annual basic salary. The basic salary of the Senate President is N2.48million while that of the Speaker of House of Reps is N2.47million. The deputy Senate President has N2.30million as annual basic salary while his counterpart, Deputy Speaker earns N2.28million annually. In addition to the annual basic salary, each member
of the National Assembly receives 200 per cent of the annual salary for accommodation, 75 per cent for vehicle maintenance, 25 per cent for personal assistants, 5 per cent for house maintenance, 75 per cent for domestic staff, 30 per cent for both entertainment and utilities. Others are, 25 per cent for wardrobe, 15 per cent for newspapers and responsibility allowance of between 10, 7, and 5 per cent respectively as the case may be on the position of the legislator. While each senator receives a whopping 250 per cent for constituency allowance, member of
House of Representatives gets 100 per cent for the same annually. In all, the senate alone, numbering 109 senators gulped the sum of N1.85billion in the last one year, while the 360 members of the House of Representatives got N4.93 billion. According to estimates from the report, there are non-regular allowances federal legislators are entitled to. They include furniture and severance gratuity which are due only once in four years. Other non-regular allowances include Estacode allowances which is paid in
US Dollars for foreign trips and Duty Tour allowance which is paid in Naira for local trips within Nigeria. Further analysis by Economic Confidential reveals that an average Nigerian worker with a minimum wage of N18,000 a month will have to work for four years before earning the utility allowance for one legislator. “Unless the remuneration package is reviewed downward or upward by the Revenue Mobilisation Allocation and Fiscal Commission, the legislators will continue to enjoy the current official salaries and allowances.”
Police nab 5 over vandalism in Abuja Chris Agbambu-Abuja
POLICE in the Federal Capital Territory (FCT) have arrested members of a notorious syndicate that specialised in vandalising armoured cables and other installations in Abuja. The five suspects, whose ages range between 20 and 25 years, all of DutseApo Pantaker Market, were arrested on August 25, at about 0300hrs at Aminu Kano Crescent, Wuse II, while vandalising electrical cables belonging to Abuja Electrical Distribution Company. Exhibits recovered from the suspects included: 87 pieces of electrical cables, giant cutting machine, and a red colour Golf 3 car with registration number AH 972 KRV. Also, operatives of the Command, while on patrol on August 21, at about 3am, intercepted some hoodlums who were vandalising some armoured cables at Maitama roundabout by Yakubu Gowon House. The Commissioner of Police Muhammad Mustafa has since ordered the transfer of the suspects and exhibits to the Command Criminal Investigation and Intelligence Department for discreet investigation that will lead to the arrest of their cohort and possible prosecution.
Wife of Lagos State governor, Mrs Bolanle Ambode (right), exchanging pleasantries with former head of state, General Abdulsalami Abubakar, during the launch of RAISE Foundation, at the Athena Event Arena, Minna, Niger State, at the weekend.
PDP blasts Jigawa gov over claims Leon Usigbe and Jacob Segun Olatunji-Abuja
THE national caretaker committee of the Peoples Democratic Party (PDP) has blamed the present economic recession on the alleged lack of vision, incompetence and poor handling by the All Progressives Congress (APC) government led by Presi-
dent Muhammadu Buhari. It has, therefore, rejected the claim by Governor Abubakar Badaru of Jigawa State, who had blamed the poor economic condition on former President Goodluck Jonathan. In a statement issued in Abuja, on Sunday, the national spokesman of the opposition party, Dayo Ad-
eyeye, also pointed out that effort by Jonathan to take measures to mitigate the predicted economic slowdown was rebuffed by politicians, many of who are now serving in the present APC government. It said: “In the first place, this blame is misplaced because our elementary understanding of economics teaches us that the major
SERAP to Buhari: End impact of economic recession on the poor SOCIO-ECONOMIC Rights and Accountability Project (SERAP) has sent an open letter to President Muhammadu Buhari to save the poor in the nation. The letter dated September 2, 2016 and signed by SERAP senior staff counsel, Timothy Adewale, expressed concern that “the economic crisis is having disproportionate impacts on the rights of the poorest and most marginalised, who are the most vulnerable because they already
suffer from years of corruption, underdevelopment and abuse of power. “Buhari should put pressure on the National Assembly to cut its budget and spending, which in 2016 alone is N115 billion. The sum of N150 billion each was allocated to the National Assembly in 2011, 2012, 2013 and 2014 while N115 billion was allocated in 2015. These huge budget allocations cannot be justified and must stop. “Buhari should immediately cut the sum of N103.47 million budgeted
for foodstuff and catering materials in the Presidential Villa, and put pressure on the 36 state governments (including the Ondo State government which budgeted N103.2 million for feeding and entertainment of the state governor in 2016 and the Cross River State government which budgeted the sum of N1.4 billion for entertainment and hospitality for the governor), to cut these outrageous budget allocations and use the funds for social services and to pay workers’ salaries.”
cause of recession is inflation and poor handling of the economy, given that the higher the rate of inflation, the more impoverished people become, industrial production and GDP decline, resulting in massive job losses.” The statement referred to observations already made by key stakeholders regarding the cause of the recession, some of who cited lack of clarity in government’s economy policies. According to the PDP, “World history is full of many examples where genuine leaders take over countries whose economies are stagnated and move them to positive growth. Like Franklin D. Roosevelt, the president who ruled the United States from a wheel chair during the time of unprecedented economic depression and total war, introduced an ambitious programme for relief, recovery and reform called ‘the Great Deal,’ which began to yield considerable dividends in weeks and Americans are the better for it today.
NAF set to deploy additional personnel in Niger Delta THE Chief of Air Staff (CAS), Air Marshal Sadique Abubakar, on Sunday, said arrangements had been concluded by NAF to deploy additional personnel to the Niger Delta. This was contained in a statement signed by its Director of Public Relations and Information, Group Captain Ayodele Famuyiwa, in Abuja. The statement said that it was part of the resolve to combat militancy and other forms of internal security challenges in the region. Abubakar disclosed this in Yenagoa during his visit to NAF Mobility Command. “The planned deployment is aimed at strengthening the existing NAF manpower disposition, especially in Bayelsa and to enhance Nigerian Air Force (NAF) involvement in ‘Operation Delta Safe.’’’ “Preparatory to this deployment, new facilities were recently put in place to cater for accommodation and other welfare needs of the personnel. “These include the construction of new blocks of accommodation for officers and men, office accommodation, airmen’s mess and provost squadron which were commissioned recently.” According to the statement, two of the airmen’s blocks of accommodation have been named after Cpl. Omaka VI and Aircraftman Ofonih EF, both of whom were killed in Bosso, Niger, during an Internal Security Operation. Retired AVM Larry Koinyan commissioned the newly-constructed projects as the guest of honour. In his remarks, AVM Koinyan applauded NAF personnel for their courage and resounding successes following their renewed vigour at ensuring peace and stability in the various theatres of operations in the country. He, however, called on the people of Bayelsa to support the Federal Government’s effort at solving the problems of the region once and for all. Earlier, CAS paid a courtesy call on Gov Henry Disckson of Bayelsa, who gave assurance that his administration was ready to partner NAF and other security agencies in their bid to rid the state of criminal activities. Dickson said it had become necessary because Bayelsa government understood the importance of security and the need for the state to be safe for economic prosperity.
13
editorial
T
Monday, 5 September, 2016
Nigerian Tribune
Now that Nigeria is in recession…
HE announcement last week by the National Bureau of Statistics (NBS) that the economy had slid into recession consequent upon negative growth in two consecutive quarters did not come as a surprise to many Nigerians. The handwriting had been clearly on the wall since last year that the economy was headed in that direction. The Central Bank of Nigeria’s Monetary Policy Committee had warned the nation since last year that unless drastic steps were taken, the economy would go into recession. Apparently, the warning went unheeded, so the CBN’S prophecy has found fulfillment. Recession, a slowdown in economic activities, comes with the attendant pains; contraction of the economy, closure of businesses, loss of jobs and a plunge in the quality of life of the people as a result of decline in revenue. But the current recession is a different one because it is accompanied by galloping inflation. The Consumer Price Index went up from 16.5 per cent in June to 17.1 per cent at the end of July, according to the NBS. The stagflation, as economists love to describe the current case, has pushed more people below the poverty line, increased deprivation in the country, and escalated agony in the land. We are of the opinion that the Federal Government needs to brace up with a view to stemming the tide of recession so that it does not degenerate into depression. Depression is a sustained downturn in economic activities over a long period. Depression is more severe than recession and would foist more hardship on the people. So, it should not be contemplated at all. But to stave off depression, the government must shake off its lethargy and take decisive steps to bring the economy out of recession. At the root of the galloping inflation is the volatile foreign exchange. The inflation being experienced in the country is a cost-push one. Nigeria is an import-dependent country; therefore, the prices of most items are a reflection of the exchange rate of the local currency to the dollar. For as long as the naira continues to be worsted by dollar at the foreign exchange market, the prices of imported commodities will continue to soar. The way out of this is for the government to bridge the gap between the interbank and parallel market rates. The over N100 gap between the two rates leaves room for a series of underhand dealings with the propensity for leaving the economy prostrate and the people poorer. However, bridging the gap will take the sail out of the wind of those who make a kill by engaging in round-tripping while buoying the interest of genuine business people in productive activities. Economists are agreed that government should spend more during recession as an escape route. Doing this will swell the money in circulation and boost economic activities. We
acknowledge that in the past few weeks, contractors have been mobilized to site and work has resumed on some projects, but these are just a tip of the iceberg. What is required is a massive release of money into circulation to stop the recession in its tracks. Allied to this is the need to pay outstanding workers’ salaries to enhance the purchasing powers of the populace and buoy manufacturing companies. Twice this year, the CBN raised the interest rate, first to 12 per cent in March and 14 per cent in July, on the ground that it could not be lower than the inflation rate. Not unexpectedly, this has slowed down the interest of manufacturers in taking bank facilities. Given that the manufacturing sector is critical to the nation’s economic resurgence, the CBN should take a look at this policy. It is an economic fact that high interest rates discourage borrowing and without borrowing, manufacturing activities would suffer a lull. Every government in the last 30 years has bellowed the need to diversify the economy but not much has been done over the years. This government has also not hidden its interest in the diversification of the economy, and is considering agriculture and mining as the vehicles for this. While some steps have been taken in this direction, what the government is doing is unlikely to deliver the desired result because its focus has been on exporting farm produce and raw minerals. But that is the mistake the country made with petroleum; exporting primary products does not make any country prosperous. So, rather than planning to diversify the economy through the exportation of farm produce and solid minerals, the government should challenge local manufacturing companies to go into processing of these, to create employment opportunities and ensure the inflow of foreign currencies. The government also needs to cut down on the cost of governance. If the revenue accruing to the states has dwindled, it goes without saying that government expenditure on nonessentials ought to be scaled down. Having a convoy of 15 vehicles accompany a government official is not only a wrong deployment of scarce resources; it is also an unconscionable act capable of pitting the people against the government. Then, the government should communicate more. It is not enough to give assurances without providing data to back same. Keeping the people in the dark would alienate the government from the people. The government needs the cooperation and support of the populace to turn the economic tide, but what would guarantee this is a clear and honest communication about the reality of the situation and what the government is doing to steer the ship of the country out of the troubled waters.
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14 LETTERS TO THE
Monday, 5 September, 2016
editor
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On Ekiti grazing bill
I
want to commend the Ekiti State government for the new grazing bill which will help tackle terrorism among herdsmen in the state. The bill is expected to prosecute herdsmen with weapons in their possessions. I believe this will go a long way in curbing the evil activities of some herdsmen who destroy farmlands and kill innocent people. I hope other states currently suffering from the attacks of herdsmen can also enact the same law. I don’t really understand why herdsmen carry guns if they don’t have bad intentions. They only need sticks to guide their cattle,
but this new law will go a long way in curbing crime among them. Having said this, I want the Federal Ministry of Agriculture to start promoting an agricultural system whereby cattle are kept in enclosures or barns. The truth is that the owners of these cattle are well-to-do people in the society who can afford to buy land and keep their animals in the enclosed spaces. Apart from the killing of innocent people, these herdsmen also contribute to the low productivity in the agricultural sector. This is because they have used their animals to destroy have farmlands, and have driven farmers from
their lands. If something is not done to curb the illegal activities of these herdsmen, then our vision to diversify into agriculture will suffer a great set-back. Therefore,
through its embassy, release what Mr Kerry came to discuss with the Northern section of the country. After that, the Secretary of State should make another visit to the country
on the need to acquire land for their animals, and then, it will start teaching those involved in cattle production the techniques used in enclosed or barn cattle farming. After a while, the
What PDP owes Nigerians IF the Peoples Democratic Party (PDP) is really serious about its survival, then its leaders must shelve personal political ambitions and work towards uniting the party. The crisis bedevilling the party can bring about its demise, and this is not good enough for democracy in the country. PDP owes Nigerians
Why John Kerry must revisit Nigeria I think if the United States of America is truly a country that is built on fairness, and which also preaches democracy, then it is important its Secretary of State, Mr John Kerry, return to Nigeria to right the wrong he made when he visited the country two weeks ago and had audience with just a section of the country. Already, Southern Nigerians are beginning to see the visit by Mr Kerry as one that qualifies them as insignificant in the country’s political set-up. How do we explain that Mr Kerry would come to Nigeria and met only with the Sultan of Sokoto, Alhaji Abubakar Saad, and the 19 governors of the Northern states, when Nigeria has hundreds of traditional rulers, and 17 southern governors. Northern problem is not only the problem we are facing in the country; Mr Kerry might have come to discuss about the Boko Haram issue, the Fulani herdsmen’s attacks on innocent victims, or even the plight of people displaced as a result of the Boko Haram insurgency, but we also have the militants’ attacks on oil infrastructures in the south, as well as kidnapping, baby factories, poverty, unemployment, among other challenges. If the United States wants to be fair, it should,
agricultural stakeholders in the country must encourage barn farming for cattle farmers, and this is not hard to do. The Federal Government will first begin to sensitise cattle owners
and meet with traditional rulers and governors in the south. •Yemisi Soares, Surulere, Lagos.
the responsibility of being a strong opposition party, but with the crisis in its fold, then the party is weakening every day, and it will be unable to perform its role as the main opposition party in future elections in the country. This is the reason all the leaders of the party must focus more on its survival, so that Nigeria is not turned into a one-party state. I particularly want to urge Alhaji Ali Modu Sheriff and Senator Ahmed Makarfi to come together and speak with one voice in the best interest of the party. The PDP has a great opportunity to return to
Federal power in the next general election, but this will be determined by how united members are going into that future elections. The forthcoming elections in Ondo and Edo states are a great opportunity for the PDP to test its popularity among the citizens of these two states. However, one thing is sure, if the PDP speaks with one voice, then nothing can stop the party from becoming victorious in these two elections. The hope of the party achieving victory, therefore, is when it is united. •Wisdom Aneke, wiseone02@gmail. com
government will set a time frame for cattle owners to acquire land and stop migration grazing across the country. I believe the Federal Government has started on a bright note by introducing the fast-growing grasses. This should help in the feeding of cattle in enclosed spaces. Therefore, if we do not want one agricultural system — cattle production — to affect the other — crop production — then this is the best way to go. I hope the Federal Ministry of Agriculture can start sensitising cattle owners on the need to acquire lands for their production, before giving a definite time frame for the stoppage of migration grazing. •Felix Anyanwu, Woji, Port Harcourt, Rivers State.
Police need more than 10,000 new recruits I don’t really know the total strength of the Nigeria police today, but for a population of 180 million people, the police need more than the 10,000 new recruits it is planning to absorb into the Force. One of the reasons we are having challenges in the country is because there are not many security agents to police every part of the country. Instead of employing just 10,000 officers, this is a great opportunity for the police hierarchy to employ about 50,000 to 100,000 recruits. Apart from the fact that it will help reduce the unemployment rate among youths, it will also reduce crime significantly, as more officers will be available to police our communities. I, therefore, hope that the Police Service Commission (PSC), which is responsible for employing the new officers, will give my submission a thought. •Nugwa James, Lokoja, Kogi State.
15
opinion
Monday, 5 September, 2016
Lasisi Olagunju
W
Lasgunju@yahoo.com (08111813053)
HEN misfortune hits a man so terribly that he cannot feed his family, then there is a recession. That is the economics understood by persons with financial disability. So many good men and women are right now in very deep shit as the economy spirals out of the hand of the glibs driving our bus. I am not writing this so that you and I can start whining. I am writing so that we can know that this recession which they have described as “just a word” is, to the poor, more than a word. It defines our world. Children are going back to school, schools are increasing fees, employers are reducing pays - or not paying at alland we say the world has not come to an end for the poor ! Forget about all the big grammar people in government spewed last week about the economy in momentary crisis and improving soon. To the poor man in the village and city slums, recession came a long time ago. To the government worker who labours without pay or with half or a quarter pay, the definition of recession is the permanent abject state of the man’s purse. To the old, spent pensioner who cannot remember the last time he got his stipend, recession is that word which has been with him since his trouble started. The economy contracted years ago for the public school teacher who could no longer look his daughter in the eyes and tell her why she could not have regular meals despite his daily toils. Imagine these: Federal universities are almost entirely free. That accounts for why some of us, children of farmers, had the audacity to venture there three decades ago. Today, the varsities are still largely free, but children of directors in the public service now lose admission into those schools because their parents could not pay acceptance fees. These directors could not pay these paltry sums because they just could not. Their employers had no salaries to pay and the cooperative societies that used to fill the gap have been run into bankruptcy. Schools are resuming this month. How many parents are not scared stiff of what happens in the next two weeks on the children who will ride on the okada of recession back to school? Is there a curse? Why is there no forward movement despite great efforts made? There is an ancient Turkish saying about a city built to survive all humanity. “If the whole world were destroyed, Ani (the city) would rebuild it; but
Our children are recessioning back to school
if Ani were destroyed, the whole world wouldn’t be able to rebuild it.” It was that strong and sure. But what eventually destroyed that impregnable city? A curse it placed on itself because it refused to do justice to its poor. So, Whatever is talked about now is just an affliction gone viral. There is so much noise now because the immunity of the big and powerful has gone with the bubble. When the economy was described as the biggest in Africa, the man in the gatehouse could not understand the why of the big celebration by persons of power. It had no meaning to him. They said there was prosperity, but he still could not meet the mark in matrimonial responsibility. His bills were unpaid, his debts remained as they had always been. What was big in an economy that did not provide for his welfare and hope for his ragged kids? The only signs of change he could see were the number of private jets in Abuja and Lagos and the lengthening convoys of imperial government officials. Today, the big players are blowing imprecations in the air because their bubble has gone burst. The shitstorm of this spine-wracking era is hitting all like the locusts of Egypt. The disease called want and uncertainty is no longer an exclusive curse for the poor. It is the new aso ebi. And now, the celebrants of just two years ago are sulking, seeking more teary eyes to join in mourning the contraction of the big. You read everywhere now that even the big banks are groaning, telecoms giants are quaking. But, when the going was good, what good did they do to their customers? Did the banks not lure their unwary customers into signing documents with hidden clauses that threw the poor into greater misery? Did
the poor man not change his phone numbers every month in search of that operator who would be honest enough not to steal from his little nothings? Rich men never like sharing anything with the poor. Not poverty, not riches, not death. Nothing. A 2009 piece in the New York quoted U.S. comedian and actor, Tom Papa shouting at rich men’s possible fatal coping strategy with that year’s recession: “How about these billionaires killing themselves? They lose their money and they kill themselves. How insulting is this?! They’d rather die than live like us.” The same newspaper reproduced a report in the Daily Intel where another comedian and actress, Rachael Harris, conceded that the acute recession of that year was “happening to everyone” big or small. She goes on to suggest that the way to live through it was to feign it was not serious. “When you make light of it, it takes the stress out of it. Like when somebody comes up and says ‘Hey, I’m so freaked out about getting fired that I’m gonna fire myself.’” Interesting. Do we take that advice now that it appears there is no sign that someone somewhere is working on a solution on our behalf? I would have suggested the comedy strategy. We can ask the big boys and girls of comedy in Lagos to sedate us with some silly, sweet jokes, but this economic load is carrier specific. It is yours and if you run away from it in the morning, you will come and pick it on your way back in the evening. Yesterday, King Sunny Ade sang the sad tale of the husband who accompanies his wife to her lover’s bedroom “because they must eat.” There are sadder stories today of mothers selling the fruits of their own wombs “because of hunger.” And we can be frustrated, sad and angry at the mess we have made of our country. We can scoff at the unsteady hands of a leadership that wove this leaking basket of hope. But while we are angry at the lack of sorry from those whose greed and incompetence combined to make this land one of perpetual recession, can we notice that the response from the knowledgable lords of the land to this thing called recession is tax and more tax? You and I are to pay tax while they sit back once again, wining and dining over the loot wrenched from the poor. If you don’t understand what I am saying, just wait and see how much you pay soon as tax for reading this, for asking why I am writing this and for doing nothing about your state.
Of power and realistic expectations By Ikeogu Oke THOUGH appropriate, the word “novel” arguably understates the import of President Muhammadu Buhari’s decision to saddle Mr Babatunde Raji Fashola with three highly demanding portfolios in his cabinet, namely Power, Works and Housing. I am making this observation after reading the interesting piece by Uche Aneke entitled “Power sector: Great Expectations from Fashola,” published in a Nigerian daily late last year, in which Aneke – the General Manager, Public Affairs, of the Nigerian Electricity Management Services Agency (NEMSA) – makes reference to the “novel way in which portfolios were assigned” by President Buhari, as shown by the three portfolios assigned to Fashola. Beyond its novelty, President Buhari’s decision can be compared to hitching three harnesses to one horse, whereas the normal thing is to attach just one harness to one horse. The expectation is that it would have to be a wonder horse – with supernatural strength – to be able to perform efficiently while drawing the three harnesses simultaneously. And some may wonder why link three harnesses to one horse in a country where there is a surplus of horses to which the other two harnesses could have been tied, creating more employment for horses. So the critics of the decision may portray it as liable to cause inherent inefficiency across the three portfolios which, incidentally, has not been the case with the power sector. And I speak for the power sector out of close familiarity, having been engaged in the sector in various capacities for over thirty years, and considering its state before Fashola’s appointment as Minister of Power. But then, supporters of the decision may justify it by cit-
ing the saying that the reward for success is more work, and base the justification on what Aneke called “the miracle of Lagos transformation” – a reference to Fashola’s impressive record as a former governor of Lagos State, arguably the most populous, complex, advanced and infrastructurally developed state in the country. They would argue that if Fashola could transform Lagos State into what it was at the end of his two terms as governor, then transforming the power sector should be a lesser task to him. Also, that running Lagos State should be more challenging than running three federal ministries. And so that President Buhari did not err in assigning three ministries to him considering his record of achievement, even though the critics of the decision may still counter it with the African saying that you should not heap rocks on the head of a child because you believe he is strong. For me the enthusiasm of this defence stems from a lack of understanding that managing the Nigerian power sector alone is more demanding than managing Lagos State. And it shouldn’t take a long exposition to explain why even to a layman. For instance, the geographical area covered by the power sector, and which come under the supervision of a Minister of Power, encompasses the whole thirty-six states, including Lagos, whereas the geographical area covered by Lagos State is just itself. And with the way the power system is networked – especially the transmission network – a problem at one location, say the National Control Centre (NCC) at Osogbo, can have nationwide impact like system failure which
would throw the entire country into blackout, and may require the minister’s intervention on something like a national scale to be resolved. But problems in Lagos State are more likely to be confined within its borders than have such nationwide impact. The same for generation: even when a problem originates from a remote location or a single or few states like the recent vandalisation of power and gas infrastructure, the impact of a drastic decline in power generation sends shocks through the grid and nationwide, with the attendant distress to the citizenry. In this sense, Lagos State is a microcosm of the power sector. And a Minister of Power in trying to solve problems in the power sector usually deals with a national headache compared to the far less severe state headaches that state governors have to contend with, including Lagos State. In effect, if Fashola succeeds as Minister of Power, which I believe he will, if given the necessary support, it should be considered a far greater achievement than his success as governor of Lagos State. And if he does this while successfully managing the two additional ministries, then it would qualify to be considered a phenomenal achievement. However, considering the enormity of the issues in the power sector, he would need to set realistic goals while Nigerians must equally have realistic expectations in order for his success in the sector to be recognisable. •Oke, a former staff of National Electric Power Authority (NEPA) and a public affairs analyst, lives in Abuja.
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politicscommentary
Monday, 5 September, 2016
What is President Buhari doing with the economy? By Garba Shehu
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ET me start by asking an important question: who wants to kill racy introspection? There is a cacophony of voices telling the Muhammadu Buhari administration to close its eyes to the past; that given the enormous tasks that lie ahead, history and its consequences for our nation should be the least of the government’s preoccupation at this juncture. I disagree. Let us keep a fiery memory of the past so that we don’t repeat its mistakes. Look back, look ahead. The future must of necessity be built on the foundations of the past. The Conservative Party took power in Britain six years ago from Labour. Check the British press, they are talking about Labour 24/7, is anyone complaining? Japheth Omojuwa, one of Nigeria’s top three influencers seemed tasked in his patience reacting to calls that we must stop talking about the immediate past administration in this country. “People are still talking about who ran governments in 1865, you want us to forget those who left government last year?” Music icon, Fela Anikulapo Kuti, who many agree was a philosopher disguised as Afro-musician taught in one of his songs that without knowing where you are coming from, you won’t know where you are going. Wise men say that the empty can doesn’t disappear by simply kicking it down the road. To avoid repeating the past mistakes, Nigerians must come to terms with what went wrong with the past, how bad things were what was done wrongly, what the past government should have done, before we come to what needs to be done to right those wrongs. Believe me, episodes from the Jonathan era can fill books, and other possibilities such as courtroom drama thriller. Against this backdrop, I sought to hear our erudite Finance Minister, Kemi Adeosun on where we are coming from, visa-vis the administration’s chosen path to recovery and accelerated growth. What is the administration doing to revitalize the economy? She spoke at length on the many measures being put in place, many of which are not glamorous. They of necessity come with pain. Why should Nigerians be asked to endure pains? Why should they be asked to make adjustments? The simple explanation is that the economy was broken, and just as they do the broken leg, you must bear the pain of fixing it. The current situation was caused by years of mismanagement and corruption. As explained by President Buhari again and again and trumpeted by Madam Adeosun and other senior officials, we solely relied on oil, the price of which was as high as US$140 per barrel. Government simply reticulated oil revenue through personal spending by corrupt leaders, wasteful expenses and salaries. This was done rather than investing in what would grow the economy. Economies grow due to capital investment in assets like seaports, airports, power plants, railways, roads and housing. Nigeria has not recorded a single major infrastructural project in the last 10 years. In short the money was mismanaged. In addition to failing to spend money on what was needed, no savings were made by Government unlike other countries like Qatar, Saudi Arabia and Norway. To compound the problem, the previous government was borrowing heavily and owed contractors, and international oil companies. When this government took over, we had accumulated debt back to the level it was before the Paris Club Debt Forgive-
Buhari
ness. All these factors were building up to Nigeria heading for a major crisis if the price of oil fell. Nigeria did not have fiscal buffers to withstand an oil shock. The oil shock should and could have been foreseen. These are matters that both the Emir of Kano, Muhammadu Sanusi II and Professor Chukwuma Soludo, both of them eminent former Central Bank Governors had occasions to warn the government of the day about, but they were clobbered. The dire warning was written all over the wall, but they were ignored by Nigeria’s economic managers. What should they have done? They should have had the courage and vision to do as the present administration is doing through the Economic Team, the Ministry of Finance under Madam Adeosun and the various agencies of the state to envision a better future by first of all fighting corruption. Look at what a civilian administration is today doing to the military, investigating their finance and accounts that the military could not do to themselves. See what the current administration is doing sanitize the huge salary bill by eliminating payroll fraud. So far, the federal payroll has been rid of about 40,000 ghost workers. More than eight billion Naira stolen monthly has been saved. We are also saving on wasteful expenses like First Class Travel and Private jets for official trips. The Federal Government is not limiting the reforms to the centre but forcing state governments to reform their spending and build savings or investments. Government is also increasing spending on capital projects especially on infrastructure needed to make Nigerian businesses competitive and create jobs. The administration is at the same time blocking leakages that allowed government revenues to be siphoned into private hands. Currently, there is focus on key sectors (apart from oil) that can create jobs and or generate revenue such as Agriculture, Solid Minerals and Manufacturing. If these things had been done when the oil price was as high as US$140 per barrel, Nigeria would not be in the current predicament.
We would not be suffering now if we had no cash reserves but we had regular supply of power, a good rail system, good roads and good housing. Now that the oil has fallen as low as US$28 per barrel, it is very difficult to do what is needed but they must be done to save Nigeria. There is no other way if we want to be honest. If PDP were still in power, they would have continued deceiving people, by borrowing to fund stealing and wastage and the problem would have simply been postponed for further generation to face? There are many who say that this Government’s economic strategy is unclear whereas the previous government seemed well co-ordinated. I will make the confession that we, the officials hired to communicate government policies, that includes myself, have not done as well as we should have. The truth is that more than any other time before, there is a clear direction and strategy for achieving growth and development. Revisionists may not agree, but the truth of the matter is that the previous administration only had one issue, which was how to spend money (oil revenues and borrowed money). As mentioned earlier this spending was focussed on the wrong things and even though the economy seemed to be growing it was not sustainable, it was, as described by Min-
The government is people-focussed and wants the economy to grow in a way that will create a more stable future which is not dictated by world oil prices.
ister Adeosun, a classic “boom and bust”’ driven solely by the oil price. Unemployment was and remained high (never forget the NIS jobs that exploited thousands of desperate graduates in a scam that was used to fund house purchases in high brow areas and claimed so many lives). Inequalities were growing (our then President boasted about the highest number of private jets when most Nigerians could barely afford to eat).Terrorism and social unrest were growing. Real development was lacking. As soon as the oil price fell, these vulnerabilities were exposed. From its records so far, this administration is trying to reset the Nigerian economy and ensure that it attains its potential and is diverse and resilient. We are doing this at a time when the global economy is in crisis due to the oil price collapse. Even rich nations like Saudi Arabia are experiencing problems. The government is people-focussed and wants the economy to grow in a way that will create a more stable future which is not dictated by world oil prices (over which we have no control). No more boom and bust (thanks Minister Adeosun). Nigeria wants to take responsibility for its own destiny, therefore our policies will ensure that Nigeria returns to growth in a sustainable manner. No more dependence on oil. Every part of Nigeria has a role to play in contributing to our growth. We will create an environment where people can thrive and where business can grow. To this effect, all relevant agencies have been reoriented to: • Focus government spending on infrastructure which will create jobs and opportunities for Nigerians across a number of sectors (not just oil). • Ensure that we reduce our reliance on oil by developing other revenue streams such as taxes, efficient customs collections and other government revenues. • Develop key sectors in which we have comparative advantage. • Encourage development of agriculture to ensure food security for our huge population. • Develop petro-chemical industry on the back of the oil industry. • Develop solid mineral extraction and • Develop light manufacturing to provide locally made basic needs and reduce importation. If you are an official of this administration and a mixer, that is someone who mingles with citizens high and low, a charge you are forced to defend is that this Government seems to be bringing austerity and suffering to the people. Blame not, Buhari. The current pain is due to the mismanagement of the past. What Nigeria is currently experiencing was inevitable. This government is simply being honest with the people instead of piling up debts and concealing the truth by pretending all was rosy. This government believes that Nigerians deserve to know the truth. People stole unbelievable amounts of money. The kind of money some of these ex-officials hold is itself a threat to the security of the state. Since it is not money earned, they feel no pain deploying just anyhow to thwart genuine and well-intentioned government efforts. Sadly, even that which was not stolen was wasted. Government coffers were left empty, with huge debts unpaid and unrecorded (this government is working to quantify the amount owed). Even the current high food prices can be traced to past deceit. For example, the previous government purchased fertiliser in 2014, worth N65bn and left the bill unpaid. Shehu is the Senior Special Assistant to the President (Media and Publicity.
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Nigerian Tribune
Group Business Editor Sulaimon Olanrewaju | 08055001708 | lanresulaimon@yahoo.com | @lanresulaimon
analysis
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leadership & management
Paradox of healthy banks in a sick economy Kemi Adeosun, Minister of Finance Chima Nwokoji-Lagos
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HE Central Bank of Nigeria (CBN) and its partner regulatory institution, Nigeria Deposit Insurance Corporation (NDIC), not too long ago gave a clean bill of health to Deposit Money Banks (DMBs) in Nigeria. After their separate diagnosis, the apex bank came out strongly with the result that “the banking system is safe and sound,” while in its 2015 annual report released first quarter of this year, the NDIC described the banking industry as “stable and sound.” But NDIC added that this impressive verdict was in spite of a 2.83 per cent decline in total deposit liabilities, 2.02 per cent decrease in unaudited profits while bad loans increased by 82.87 per cent. Shareholders who have no reason to doubt, except when it affects their dividends took the message home rejoicing as those who had been sleeping with an eye open over the state of their banks, began to sleep with both eyes closed. The President of Renaissance Shareholders’ Association, Ambassador Olufemi Timothy, not only amplified this, but brought the message home when he spoke at a forum in Lagos. He said that Nigerian banks are “healthy and robust in spite of the global economic recession.” “I can tell you authoritatively that our banks are strong and safe. Despite the global economic recession, and the attendant effect on the financial system, our banks are robust and healthy. The apex bank’s interventions have strengthened our banks.” State of the economy
These assurances are indeed good news that should gladden the heart of any patriotic Nigerian, whether he or she has a bank account or not. But the irony is that the economy on which the banks stand is already sick. Just last week, the National Bureau of Statics (NBS), in its Gross Domestic Product (GDP) Report for the Second Quarter (Q2) of 2016, stated that Nigeria’s Q2 GDP was lower by 1.70 per cent points from a negative growth rate of 0.36 per cent recorded in the preceding quarter. Elementary economists describe gross domestic product as one of the primary indicators used to measure the health of a country’s economy. It represents the total dollar (naira) value of all goods and services produced over a specific time period. It can be thought of as the size of the economy. The NBS said it is also lower by 4.41 per cent points from the growth rate of 2.35 per cent recorded in the corresponding quarter of 2015. This officially places Nigeria in a recession, which is defined by two or more consecutive quarters of negative economic growth. “Technically, in economic terms, if you have two periods of negative growth, you are technically in a recession. Technically, we are in recession.” Those were the words of Nigeria’s finance minister, Mrs Kemi Adeosun when she appeared before law makers two months ago, even before the release of Q2 figures. Every day, Nigerians are struggling with the cost of basic amenities as prices soar and the value of the naira depreciates agaist the US dollar. This rapid decline in growth marks the worst recession Nigeria has experienced since the Ibrahim Babangida re-
gime, when the economy declined by 0.51 per cent and 0.82 per cent in two consecutive quarters in 1987. Moodys, an international rating agency, on Friday observed that that Nigeria’s government lack of money to carry out daily commitments are increasing amid growth and inflation challenges. The Central Bank of Nigeria (CBN) last week reported that activities in the manufacturing sector in the Nigerian economy shed weight by two per cent compared with the volume of July. In its Manufacturing Purchasing Managers’ Index (PMI ) Report, the apex bank said activities declined to 42.1 index points in August 2016, compared to 44.1 in the preceding month, thus confirming an earlier survey conducted by NOIPolls in May which indicated that activities in the sector were on the downward trend. The Statistics Department of the CBN conducts a monthly survey of purchasing and supply of manufacturing and non-manufacturing organisations in 13 locations in Nigeria: two states in each of the six geo-political zones, and the FCT. The survey result is used to compute the monthly Purchasing Managers’ Index (PMI). They are the first indicators of economic conditions published each month. Investors are aware that a composite PMI above 50 points indicates that the manufacturing/non-manufacturing economy is generally expanding, 50 points indicates no change and below 50 points indicate that it is generally declining. Economic activities have slowed down to a near standstill while the government continues to struggle to finance its capital projects amidst sharply depleting fiscal and
external buffers. A herd of economic analysts are concerned that when the government which is the biggest spender in any economy has no money to execute projects, its effect is usually transmitted to several sectors because money does not flow throw the banking system. Government sources have confirmed that a lot of contracts have been approved but no money to mobilise contractors. “Those who used their money to start projects are being owed,” a top civil servant confided on Nigerian Tribune. According to him, many people whose salaries and other income go through the banking system are out of jobs. Interest rates are so high that SME operators who are the engine of any economy can’t borrow and run profitably, while corporates are declaring loses from every sector. Coupled with the above, the Manufacturer’s Association of Nigeria (MAN) revealed recently that over 200 Small and Medium scale Enterprises (SMEs) within the sector have shut-down while some have downsized or relocated their business to neighboring countries. Among other functions, the most important function of commercial banks is to accept deposits from the public. Various sections of society, according to their needs and economic condition, deposit their savings with the banks. After accepting deposits from the public, the banks then advances loans to the people or companies that require cash and earn interest income. The big questions most analysts are then asking are that with all the regulatory and increased business risk challenges facing the industry, are the banks giving out loans and gaining interest income? In view of prevailing currency crisis, are the banks making foreign exchange (forex) loses or gains? Which companies or individuals are the banks really servicing profitably? Where a business man who saves N100,000 every month, now loses N17,100 out of that money to inflation, leaving him with N82,900 where is the motivation to save? Are the banks really strong, safe, sound and healthy as the regulators have announced? Beyond the figures these banks declare as gross earnings and claims to assets growth, are the banks really making profit and delivering sustainable returns to shareholders in the present state of the economy? State of the Banking Industry Just last week, Media investigations revealed that Diamond Bank Plc, Heritage Bank Plc, Zenith Bank Plc, First Bank Plc and Wema Bank Plc have reduced their workers’ salaries as of August 31, 2016. This has also been confirmed by management sources and workers in the affected banks. While Diamond Bank was said to have slashed salaries by 30 per cent, Heritage by 30 per cent, First Bank and Wema Bank workers’ salaries were slashed by 20 per cent each. It was learnt that the banks tied the decision to cut salaries to workers’ ability to meet deposit targets, which have become unrealistically high in recent time. Hence, workers who failed to meet their targets had their salaries slashed. The, question properly asked by other analysts is “are the banks really safe and strong?” Continues on pg18
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Nigerian Tribune
Nigeria: Sick economy, strong banks Continued from pg17
To assess the strength of the nation’s banks, the Central Bank of Nigeria (CBN) is currently conducting stress tests on them. But depositors have been told not worry as the tests are routine, according to stakeholders. Top-ranking sources in the banks said “The CBN is conducting liquidity ratio and capital adequacy tests to determine how strong the banks are.” Meanwhile, some banks said their capital adequacy ratio is at confortable levels. For instance, Zenith Bank’s Group Managing Director, Mr Peter Amangbo said the bank “continues to maintain robust liquidity ratio of 55 per cent which is firmly above the 30 per cent minimum statutory requirement for the period ended 30 June 2016. The group’s Capital Adequacy Ratio (CAR) stood at 19 per cent which is above the 15 per cent regulatory limit.” Access Bank said it’s capital adequacy ratio (CAR) improved by 110 basis points to 19.5 per cent in 2015 as against 18.4 per cent in 2014, driven by a successful equity raising during the year. Group Managing Director, Access Bank Plc, Mr. Herbert Wigwe said “the first-half performance shows continuing resilience of the bank in the face of a challenging macro-economic environment, which has been further exacerbated by double-digit inflation, amid an untimely devaluation.” The Central Bank of Nigeria recently sacked the management and Board of Directors of Skye Bank Plc following the bank’s inability to meet minimum capital adequacy ratio requirement. Diamond Bank’s capital adequacy ratio had fallen to 15.6 per cent of assets by mid-year from 18.6 per cent a year ago. The bank’s chief executive, Uzoma Dozie, told an analysts’ conference call, “We are doing a capital management plan and that will determine how much capital we want to raise, tenor and size. “We don’t have any need to grow our branch network any more. We are also looking at some assets that we can dispose of and we are a long way into that.” FCMB’s capital adequacy ratio was close to the regulatory limit of 15 per cent of assets at mid-year, and the bank’s management say the capital raising is to provide an additional cushion. Kennedy Uzoka, Group Managing Director United Bank for Africa (UBA) assured that; “UBA will sustain its culture of keeping a healthy balance sheet, with strong liquidity and capitalization, as reflected in the liquidity and BASEL II capital adequacy ratios of 45 per cent and 18 per cent respectively.” The Afrinvest (West) Africa Limited in analysing the industry in 2015 stated that “For most part of the year, banking liquidity was affected by further tightening by the CBN’s policies through the increase in rates and the increase in Cash Reserve Ratio (CRR). There was also the introduction of the Treasury Single Account (TSA), which saw most of the cheap funds leave the banking system. Another major event for banks was the further reduction of Commission on Turnover (COT). All of these put further pressure on the earning ability of banks for 2015 and has dragged on till the last six months. There were also issues of capital adequacy as industry asset quality deteriorated. This was reflected in the increase in loan loss expenses and Non-Performing Loans (NPLs) ratios. Mounting pressures on asset quality increased due to exposure to distressed sectors, power, oil and gas, which on the average accounted for about 26 per cent of the total loan book size of the Nigerian banking sector. Industry Non-Performing Loans which are loans borrowers no longer pay back increased from three per cent in 2014 to 5.5
Senator Udoma Udo Udoma, Minister of Budget and Planning. per cent in 2015. Supporting this figure is the Financial System Stability Report released recently by the CBN, it showed that in May 2016, NPL in the banking industry rose sharply by 78 per cent to N649.63 billion year-on –year basis. Most industry watchers are seriously worried that N649.63 billion of loans that may never be recovered, is already above N620 billion which the CBN in 2009 injected into the banking sector to save it, and replaced the leadership of eight Nigerian banks. This is not forgetting the fact that at N649.63 billion, the total amount of Non-Performing Loans in the banking industry is enough to obtain 12 international banking licenses and 25 national banking licences in Nigeria. At the moment, there are 22 commercial banks, four merchant banks and one non-interest bank. Nigerian banks have suffered from the slump of commodity prices, and slowing economic growth. “Bad loans are dangerous for the health of DMBs and everything that is necessary must be done to ensure we do not relapse into scenarios from our recent past when our banks had to be bailed out to avert a total collapse. The poor state of the banks at the time led to the government’s establishment of the Assets Management Corporation of Nigeria (AMCON), through which over N2 trillion was used to bail out some distressed banks,” a top banking executive who do not want to be named told Nigerian Tribune. Similarly, the NDIC report also put the total amount lost to 12,279 fraud-related cases in the banking sector at N18.021 billion for 2015, a drop of N7.59 billion or 29.63 per cent compared to the N25.608 billion lost in 2014. Concerns about asset quality, capital adequacy and cost of risk have all contributed to the sector being one of the hardest hit sectors. Oil and gas sector remains one of the biggest debtors of commercial banks. The oil sector has been the major driver of the Nigerian economy, yet, statistics from the CBN as of March 2016, put credit allocation to downstream oil and gas operations, natural gas and crude oil refining at N2.237 trillion. The CBN data showed that the sector owed commercial banks over N2.272 trillion as at December 2015 and over N2.299 trillion in February.
This rapid decline in growth marks the worst recession Nigeria has experienced since the Ibrahim Babangida regime. Levels of returns and profitability Most present and ex-bankers have at different occasions complained that, the tougher operating environment is reflected in industry levels of profitability and asset quality. A few profitability ratios can provide further clue to the health of the banks. Guaranty Trust Bank’s Q2 Net Margin stood at 36.9 per cent. Net margin is one of the most closely followed numbers in finance. Shareholders look at it closely because it shows how good a company is at converting revenue into profits available for shareholders. A declining net margin over time could be a problem. Union Banks Net margin berthed at 14.6 per cent. For Zenith Bank Net Margin decreased to 13.4 per cent as against 14.8 for the previous period. Wema Bank’s Net margin stood 4.5 per cent. For Access Bank, Net Margin stood at 21.3 as against 18.5 per cent the previous year. From the list of banks that have released half year (H1):2016 results, First Monument Bank (FCMB) recorded 259.9 per cent rise in impairment charges. Impairment is specifically used to describe a reduction in the recoverable amount of a fixed asset below its book value. Impairment normally occurs when there is a sudden and large decline in the fair value of an asset below its carrying amount. When it refers to loans, they are loans that may no longer be recovered. An accountant tests assets for impairment periodically; if any impairment exists, the accountant writes off the difference in the fair value and the
book value. Union Bank of Nigeria (UBN) (+195.3 per cent) and ETI (+84.8 per cent) recorded the largest spikes in impairment charges. Zenith Bank’s PAT dropped further by 15.73 per cent to N44.84 billion (vs. N53.18 billion in H1’15), just as it recorded a decline in top line of 6.23 per cent to N214.81 billion for H1’16 (vs. N229.08 billion in H1’15) which was largely aided by the loss reported in trading income for the period. Impairment charge significantly affects a bank’s bottom line. Having reported a rise in Impairment charges of 23.30 per cent in Q1’16, shareholders would have been excited to see a reduction in impairment charge for Zenith Bank in H1’16. However, this was not the case as the bank posted a massive rise of 97.64 per cent on impairment charge for credit losses to N14.23 billion (vs. N7.20 billion in H1’15). Also in relation to Profit after Tax (PAT), Unity Bank recorded a decrease of 70.2 per cent. Sterling Bank (-25.9 per cent) and Diamond Bank (-25.5 per cent) recorded the largest Y-o-Y declines in PAT. For a few banks including FBN Holdings Non-Interest Income (NII) was up 52.0 per cent Y-o-Y, and profitability was buffered by higher Non-Interest Income (NII) which partially offset higher impairment provisions. In the same vein, Fidelity Bank’s net income dropped by 31.91 percent to N5.59 billion from N8.21 billion as at June 2015, despite a strong net interest income. More worrisome is the bank’s cost to income ratio (CIR), which increased to 79.15 percent in June 2016 as against 72.19 percent the previous year. The bank is therefore spending nearly N80 out of every N100 in revenues and there is no significant different from others. Further breakdown of the Q2 report of the various banks are as follows: Wema Bank Q2:2016 result showed PAT stood at N1.1 billion, Loan to deposit ratio is 61.9 per cent. The loan to deposit ratio is used to calculate a lending institution’s ability to cover withdrawals made by its customers. A high loans to deposits ratio means that the bank is issuing out more of its deposits in the form of interest-bearing loans, which, in turn, means it’ll generate more income. The problem is that the bank’s loans aren’t always repaid. Plus, the bank has to repay deposits on request, so having a ratio that’s too high puts the bank at high risk. A very low ratio means that the bank is at low risk, but it also means it isn’t using its assets to generate income and may even end up losing money. Guaranty Trust Bank Loan to Deposit Ratio stood at 77.8 per cent, with 531.0 per cent in impairment charges compared with 12.4 per cent at the end of 2015. Way forward in a period of recession What should the banks be doing at the moment? President and chairman of council Chartered Institute of Bankers of Nigeria (CIBN), Professor Segun Ajibola did not mince words when he suggested that microfinance banks can help even as commercial banks have no option than to refocus on retail banking, which is their core function. By so doing, the MFBs and DMBs will empower the masses of the people in various sectors of the economy. “Those who have micro businesses to pursue should be given all the support. The vulcanizer, the welder, Hairdresser outside there, the woman making detergents outside there, the restaurants and many more should be empowered. If the empowerment could come from the bottom, then it will gravitate to SMEs and from the small scale to the medium and large scale enterprises,” Ajibola said. To him, Nigeria had relied so much in oil and because of the monolithic economy, this sector was ignored.
Monday, 5 September, 2016
Quote LEADERSHIP
Perfection is not attainable, but if we chase perfection we can catch excellence. —Vince Lombardi
By Sulaimon Olanrewaju
I
T was Louis V. Gerstner, former chairman of IBM, who said “people don’t do what you expect but what you inspect.” By this, the astute businessman who “thought the American multinational technology company to dance” before exiting in 2002, counsels managers to regularly get updates from their subordinates to ensure that they remain on the same page with them on whatever projects they are handling. 20 However, this has beenPAGE stretched to the extreme by some managers who engage in
Ladi Delano, CEO, Bakrie Delano Africa
micromanagement. Micromanagement, the antithesis of delegation, has been described as “giving subordinates a project but checking on the progress frequently, offering many ‘helpful’ suggestions, and leaving them with the clear impression that you could do it better and faster.” Experts are agreed that micromanagement is the wrong route to take in leadership because it deprives the leader of the opportunity to mind what really matters.
INSIDE
Leaders and challenge of micromanagement PAGE 20
Leaders’
forum PAGE 21
Continues on pg20
The 60-second
business coach PAGE 20
20
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Monday, 5 September, 2016
Continued from pg19
A leader should ordinarily look at the big picture and allow his subordinates to handle sectional or departmental matters. But when a leader concerns himself with issues that should be handled by subordinates it is suggestive of lack of confidence in the subordinates’ competence. Unfortunately, this is a pointer to a problem with the manager rather than the subordinates. One of the basic responsibilities of a leader is to raise other leaders, not followers. It is his duty to develop people with capacity for independent thinking, not those who will eternally be tied to his apron string. It is leadership failure if nothing gets done without the leader. If a leader lacks confidence in the ability of subordinates to run the show without his input, it is an admission of his failure to recruit the right persons or his inability to develop leadership skills in his subordinates. Commenting on this, Lee Iacocca, former president of Chrysler Motors, said, “I am a strong believer in letting line operations ‘operate’ – delegating to good people and then letting them do the job. But, you might ask, if the key managers are running the business, what’s left for the CEO to do? “I think a big part of my job is what I call ‘defining the envelope’ or setting the limits within which line management can operate on a relatively freewheeling basis. It’s similar to a parent telling a child: ‘Play in the backyard but don’t go past the gate and don’t climb over the fence and don’t invite anyone over.’ The child has the run of the yard, but the parent has prescribed limits on where he can go and what he can do.” Similarly, Theodore Roosevelt, a former American president, said, “The best executive is the one who has sense enough to pick good men to do what he wants done, and self-restraint to keep from meddling with them while they do it.” Causes of micromanagement Some factors give rise to micromanagement. Here are a few of them.
Fear of being supplanted Some managers, despite taking the pains to hire great talents, stand in the way of the talents to give the company their best because they believe that allowing the subordinates to display their skills will jeopardize their position in the company. But nothing can be farther from the truth. One thing that top management will always appreciate in a manager is the ability to spot great talents and allowing them to function optimally for the good of the company. So, failing to delegate for fear of being supplanted by a subordinate is against the interest of the manager. The urge to always be in control Those who practise micromanagement are plagued by the fear that ‘everything that can go wrong will eventually go wrong.’ So, to prevent anything going wrong, they adopt the system of controlling everybody and everything. But this is contrary to the counsel of Derek Lidow in his book, Startup Leadership: How Savvy Entrepreneurs Turn Their Ideas Into Successful Enterprises, where he says “Entrepreneurial leaders foster in people the feeling that they are personally successful - the hallmark of leadership.” So, instead of going about believing that subordinates are out to frustrate him, a leader should give them the feeling of importance by assigning to them roles that will bring out the best in them. Feeling of indispensability Micromanagers operate under the illusion of being indispensable. They fail to delegate so as to amplify their contribution. This gives them a sense of security because they believe that with the quantum of activities they are engaged in, top management will consider them indispensable. Fear of missing the target A manager may be driven into micromanagement by the fear of missing target set by the leadership of the company. He knows that as the head of his department, he gets the knocks for missing the target. This may force him into wanting to be sure that every-
Why leaders shouldn’t micromanage the best out of his subordinates by doing the following. Clear communication of expectations Most workers want to do the right thing but are hampered by the failure of the leadership to unambiguously tell them what is expected of them. Until expectations are clearly communicated to subordinates, they will continue to perform below expectation.
Adebola Williams, co-founder, Red Media
Uche Pedro, CEO of Bainstone Limited
thing is okay as a way of ensuring that he keeps his job. But as observed by Simon Sinek in Leaders Eat Last: Why Some Teams Pull Together and Others Don’t, that style is counterproductive. Sinek notes, “When a leader embraces their responsibility to care for people instead of caring for numbers, then people will follow, solve problems and see to it that that leader’s vision comes to life the right way, a stable way and not the expedient way.”
Effects of micromanagement Every action has its consequences. Opting for micromanagement has its effects. Here are some of them.
Promotion beyond competence level Another cause of micromanagement is when a manager is promoted beyond his level of competence. This is what Lawrence J. Peter and Raymond Hull call “The Peter Principle” in their book of the same title. Anyone in leadership position who fails to delegate has failed the most basic test of leadership and is undeserving of the position.
BOOK Being a true leader, says Simon Sinek, author of Leaders Eat Last: Why Some Teams Pull Together and Others Don’t, isn’t about being in charge, having all the answers or being the most qualified person in the room. Instead, it’s about creating a “circle of safety,” a culture that leads people to feel protected and free from danger inside the organization. That, in turn, allows them to focus their time and energy on protecting the organization from outside threats and on seizing big opportunities. Here, from Sinek, are five precepts of his leadership vision.
Stifles creativity Micromanagement is a centralized type of management and the major downside of it is that it slows down the decision making process. Everybody and everything waits for the big boss. Nothing gets down until the manager gives his assent and consent. It slows down response time to the customer because the manager has to sanction every action. It stifles creativity and innovation because employees are not allowed to give vent to their energies which slows down a company’s progress. Breeds disaffection It breeds disaffection in the system because employees won’t be sufficiently engaged since the manager wants to hold on to as many of the tasks as possible. When
Godwin Benson, Founder, Tuteria employees are emotionally disconnected from the workplace because of the attitude of the manager, they are less likely to be productive and this will have a telling effect on the company’s fortune. Stalls manager’s promotion If a manager creates an impression that his subordinates are unfit to step into his shoes, he runs the risk of getting stuck where he is because his boss will be unwilling to move him away from the position since getting a replacement may turn out to be a serious challenge. So, a leader that does not allow his subordinates to grow by learning to do is inadvertently doing himself in because his own progress will also be stunted. Avoiding micromanagement pitfall To avoid the snare of micromanagement, a leader needs to do the following. See every member of staff as a contributor
Leaders eat last 1. Leaders have to accept that their responsibility is not the performance of the company but the performance of their people, and that doesn’t mean numbers but whether people are working to their greatest potential. Are they being given opportunities to try and fail and try again? 2. Leaders, whatever the size of their organizations, are those willing to put the interests of other people before their own. For entrepreneurs or small-business owners, that means committing ourselves to the success of our clients and our customers and showing up every day not simply to
Igho Sanomi, CEO of Taleveras Group
grow our own bottom line but to help somebody else’s bottom line. 3. Online communities function like any other community. You can’t just milk social media to tell people about your company without being willing to serve. Instead, use these platforms to offer and share information that has value to other people even if it has no direct impact on you whatsoever. 4. When an employee is going through a slump, don’t fire them, coach them. Consider the tech company Next Jump, which has a policy of lifetime
The leader has to move from seeing his subordinates as unable to take on responsibility and begin to see each of them as a contributor. Once a leader changes his perspective about his subordinates, his attitude towards them will also change. He will be willing to assign duties to them and trust them to effectively execute same. Jettison the ‘I know it all’ syndrome The leader should shed the ‘I know it all’ toga. Many of those who are given to micromanagement are perfectionists who are so fastidious that they believe no one but them can do a perfect job, so they opt to do by themselves what they ought to assign to others. So, dropping the belief that no one else can perform a task as much as oneself is a step in defeating micromanagement.
Clear communication of value Some managers leave their staff confused because of the inconsistency in their standards. Subordinates look up to the leader for direction. So, rather than leaving the subordinates to conjecture how the leader wants what he wants, it is best for both parties that the leader unequivocally communicates his value to the subordinates. Clear communication of readiness to assist The leader must also communicate his willingness to help when necessary. He should make it abundantly clear to the subordinate not to leave any challenge he may encounter till it is too late. Knowing that his manager is not out to magnify his faults but rather to assist him achieve his task will boost the employee’s confidence and increase his productivity.
Be your subordinates’ cheer leader Subordinates look up to their bosses for encouragement. They secretly yearn for it. So, if the leader should openly praise his staff, it will spur them to go to any length to enBringing out the best out of staff sure the success of the leader and Rather than seeing his subordinates as the task at hand. They will work out incompetent and unworthy of his trust, their hearts and guard against the the leader should do all he can to bring out leader’s interest being jeopardized.
ity. While we’d want all our client relationships to be long, fruitful and marked by reciprocity, the economic realities of business sometime require us to say yes to clients that we know are going to be difficult. If someone rakes you over the coals during the contract negotiations—guess what?—they’re going to rake you over the coals later on, too. Treat the relationship for what it is: a short-term hit. When you’ve gotten what you need—better cash flow, say—politely move on. We sometimes need to take on difficult and unreasonable 5. Temper idealism with realism and accountabil- clients, but let’s do it consciously.
employment. Once firing wasn’t an option, more care was taken to hire the right people—evaluating not just skills and experience, but character as well. Training became much more comprehensive; peer counseling groups were formed in every part of the company, and performance evaluations became more open, honest and real. Turnover went from 40 percent—average for the industry—to 1 percent. The best leaders don’t come down harder on people whose performance is lagging; they come to their aid
THE 60-SECOND business coach
7 ways to stretch yourself By Ron Edmondson
Those who succeed in the future workplace must be innovative. Adaptable. Able to change quickly. You knew that, right? It’s not an option these days. It’s mandatory just to keep up with the pace of change. We can wish for days gone by, but to keep up, leaders will have to stretch themselves and work smarter. In fact, when hiring decisions are made these days, most leaders I know (including me) look for these abilities as much, if not more, than experience or education. We need generalists, who can fill a plethora of responsibilities. If you can’t keep up with the speed of change, and adapt accordingly you’ll have a harder time advancing in your career in the future. How can a leader keep up? What can you do?’ Here are 7 ways to stretch yourself: Read something different from what you normally read If you love to read history, occasionally read a book of fiction. Pick up a tech magazine, even if you’re far from being a techie. Read the comics, or the opinion page, or a biography — whatever something is different from what you usually read. Hang out with people not like you One of my favorite ways to stretch myself has been to surround myself with many different personalities and interests among my friendships. I am introverted. I have some very extroverted friends. I’m not usually loud in a crowd — and a few of my close friends are always the life of the party. I’m conservative. I have some very liberal friends. Honestly, it’s sometimes more comfortable to only hang out with people who think like me, but I realize I’m missing opportunities to grow when I do. Move forward on something with uncertainty This will be a challenge for some of you reading this. For others it’s easy. It comes fairly easy for me. But, the fact is rarely will we have all
the answers when making decisions. That eliminates faith when we do, by the way. Take a new risk on something. It’s the surest way to stretch yourself. Attempt something you’ve never done That goes with taking a risk, but not only something that you consider “risky” — try to do something beyond what you think you can do. Take a college class, even though you’ve been out of school for years. Learn a language or to play an instrument. Take up photography or baking. Try to do a home repair — with just the help of the guy at the hardware store. If you’ve never done it — all the better. The more different from you it seems — the greater the stretch. Spend more time on opportunities than on problems This is huge, because problems tend to weigh us down and discourage us. Opportunities challenge and encourage us. Yes, fixing problems is exhilarating for some of us but only getting back to ground zero pales compared to finding new potential for growth. We can’t avoid handling problems, but we can discipline ourselves to focus more energy towards advancement rather than repair. Try it. In my experience, when I do this, some of the problems I thought needed so much of my attention no longer do. Schedule and discipline time to dream Dreaming can quickly become a lost art in a sea of mediocrity and repetition. We get so caught up in systems, routines and processes that we fail to imagine what is yet to be realized. I try to schedule a few hours a week of blank calendar time and shut everything down to think. Sometimes I take a walk. Sometimes I read. Always I try to think of something new. Stay physically active Numerous studies I’ve read indicate what my experience already knows. I stretch my mind when I stretch my body. And, the more I stretch my body, the more I stretch my mind.
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leadership&management
Monday, 5 September, 2016
Nigerian Tribune
TOPE POPOOLA is a Human Capital developement Consultant and Pastor. Please feel free to send questions, feedback comments on this column to
topheritage@yahoo.com or visit http//turbochargedforsuccess.blogspot.com
To him that knows to do good and does not do it, to him it is sin James 4:17 I join many Nigerians in saluting Governor Fayose of Ekiti State for signing into law the bill to regulate cattle grazing in the state. Many of the people who have tried to criticize the bill have not been able to find much to talk about beyond the clause that restricts movement at given times. Yes, the Constitution guarantees free movement but that is within the ambit of the law. Having lost two hectares of ready-to-harvest cassava and maize to their nocturnal peregrinations, I know enough to know that they usually perpetrate their ravaging atrocities on people’s farms under the cover of darkness. It is also an open secret that all the attacks unleashed on innocent people were carried out at night. It is trite in law that a man’s liberty stops where the liberty of others begin. It is the only reason why criminals are sent to jail. Besides, an AK47 is not a light weapon and so is not something to be brandished around in the name of self-protection. On this bill, I say kudos to Ayo Fayose! Now to today’s discourse. Painting boats was all Joe ever did for a living. He had established a reputation for being very good at his craft even if it barely met his needs. One day, he was invited to paint a boat that had lost its paint to constant use on salty waters. In their conversation, the boat owner had specified the colour he wanted the boat painted in. So Joe came with the required tools and paint. He set to work as soon as he arrived. However, while painting the boat, he had noticed a hole in the boat’s hull. The hole was big enough to cause havoc if the boat sailed without mending it. He wondered if the boat owner had seen the hole and why he never said anything about it. Well, he initially thought to himself, I am a painter, not a boat repairer. Maybe the boat owner had someone else in mind to fix the hole. But on further thought, he felt he had nothing to lose by fixing the hole since it was something he could easily do even though it was not part of his brief. He went ahead to paint the boat and fix the hole as well without
Fix the hole
mentioning anything about the extra work to his client. As soon as he was done, he received his cheque for the painting job and left. Early in the morning a few days later, the owner of the boat came to the painter’s house and with tear-moistened eyes, presented him with another cheque, this time for more than double the amount he had paid for the painting job. The poor painter could not believe his eyes. He asked himself if he was dreaming. Then he turned to the client and stuttered, “Bbbbbbut sir, you’ve already paid me well for painting the boat!” “Yes I know”, said the client, “but this is not for the paint job. This is specially for having repaired the hole in the boat”. To which Joe replied, “Ah! Sir, it was such a small service. Why would you want to pay me such a huge amount for something so insignificant compared to the actual work you hired me to do?” The boat-owner smiled and said, “My dear friend, I know you would not understand. But let me tell you what happened. When I asked you to paint the boat, I forgot to mention about the hole. It totally escaped my mind even though I knew it was something you could fix. When the paint job dried, my kids took the boat and went on a fishing trip. They did not know that there was a hole in the hull of the boat and I was not at home at that time. I had not even remembered to tell them. When I returned and noticed they had taken the boat, I was desperate because I remembered that the boat had a hole. I was almost losing my mind from imagining terrible things that could have happened to them. Imagine my relief and joy when I saw them returning from fishing. Then, I examined the boat and found that you had repaired the hole! Do you now see what you did? You saved the life of my children! No amount of money is too much to pay for your “small” good deed.”
Our nation is in dire need of “small” good deeds that have potential to make a great difference. To do nothing because you feel that you cannot do much is to forfeit the opportunity to contribute a significant quota to social transformation. It does not require special intelligence to ignore things that you believe do not directly concern you especially when you feel that it is someone else’s job. Those who only do what they are paid to do or what is naturally expected of them never raise the bar. They never make the difference that makes a difference. Neither do those who only complain. The key to greatness is problem-solving. Those who constantly make themselves problem solvers will never be derelict no matter how tough the times are. When times are hard, problems are created. Problems provide the raw materials for every great achiever to work with. The world’s current socio-economic climate has caused and continues to cause many “holes” in the boats of many nation’s economies and lives. I recently read that the current oil crisis has led to the sacking of over 50,000 workers in Saudi Arabia! You do not need a university degree to be a critic. Most of the “best” ideas about moving a nation forward are found in beer parlours where the discussants hardly get involved in providing any meaningful solution. The world was never created to reward those who only see what is wrong and what can be done. Rewards are only guaranteed to flow in the direction of those who actually do something to solve problems. For every “boat hole” you repair, you never can tell how many lives you will save. A seemingly small gesture can go a long way to prevent monumental tragedy. Don’t just stop at doing your regular “painting job” Go beyond the call of duty. Keep your eyes open. Wherever you find a “leak” that is not beyond your competence around you, in the organization, in someone you know, fix it! No matter how many times that happens, keep at it. To have all you want, according to the wisdom of Zig Ziglar, help as many people as possible to get what they need! Remember, the sky is not your limit, God is!
Seeing further than you can see
On the 30th of August, 2016, the founder of Facebook, Mark Zuckerberg, noiselessly came into Nigeria (on his first visit to sub-Saharan) from Rome, where he went to meet with the Catholic Pope. When he came into Lagos, he did not go to either Alausa or Aso-Rock; he rather went to the CcHUB, Yaba, where he met with some young techsavvy folks—to learn from them and to probably share a few thoughts with them too! You know life is about learning and teaching. What do I want you to see? Your vision will settle on where you go and those you move with. Your life will always move in the direction of your vision. And it is visionlessness that makes people go everywhere and move with everyone. Also, stagnation is an offshoot of visionlessness and blindness. You want to move beyond where you are today? Then it is high time you started seeing further than your eyes can see. A little above 15 years ago, one of my mentees walked up to me on a sunny afternoon and asked me a very thought provoking question. He said and I quote verbatim: “Sir, how can I end up becoming great in life and leadership?” I looked into his eye balls and said to him: “It all depends on how far you can see…” What I did say to him is what I am saying to you today on the condition that you also desire to become great in life, business and leadership. No one goes beyond how far he can see. And you cannot lead beyond how far you can see. When it comes to every aspect of human life, vision is everything! The truth is; the best time to dominate tomorrow in your field of assignment is to see it today and then go ahead to create and work assiduously to birth it. A lot of people are hoping for a colorful tomorrow that they cannot see. Buddy, it does not happen that way. You shall need to see
it first before you can have it. And you shall need to see it before you can step into it. Furthermore, why do people engage in unnecessary visits, idle talk, and refuse to think, plan, study and properly invest their time? It is because they cannot see far. When you cannot see far, you’d always look for those who cannot see far as you to spend time in dribs and drabs. In this new month, you shall need to see further than that of last month. Remember, if you cannot see beyond where you are, you cannot go beyond where you are. I recall my trip to the Plateau State about fourteen years ago. On a very cold morning, I went in company of a very dear buddy for mountain climbing exercise. When I got to the peak of a particular mountain, things that I could not see before getting to the peak of the mountain in question, I was able to see them. It was an indescribable experience. It was awesome. I said that in order to say this. On one hand, there are ‘valley people’. When you move with them, you’d have a good time wasting your time, but you will not get anywhere. With ‘valley people’ you cannot see far. And those who cannot see far cannot go far. ‘Valley people’ have no drive. They are not bookworm. They have no respect for time. But on the other hand, there are ‘mountaintop people’. When you move with them, you’d be able to see further than your own height can afford you. With just one ‘mountaintop person’ in your life, you’d be able to see what you could not see before. ‘Mountaintop people’ will open your eyes to vast opportunities that abound around you that you cannot see. In this new month, you’d need to dissociate yourself from some people and start associating yourself with some people, who are relevant to your destiny. May you be wise!
Someone said: “When it is dark, you can see the stars.” If there is anything that stops people from being visionary, it is the momentary dark period of their life. Your adversity will end up giving you an edge if you shall be able to disallow it from blocking your inner eye to see the stars, opportunities that abound around you. Isaac Newton said: “if I have seen further, it is by standing on the shoulders of giants.” What does this mean? It means using the understanding gained by major thinkers, who have gone before you in order to make intellectual progress. This is a very powerful wisdom. Locate all the major thinkers in your field of assignment, who are far ahead of you and humble yourself to learn from them. This will make you wiser than your peers. This will help you see further than your eyes can see. Look for books written by giants and read through them. This will change your life forever. Gather together a people and watch them for the next five years. Those who have vision amongst them will leave behind the rest who are visionless. When it comes to progress, vision is everything. Malaysia and Singapore were once behind Nigeria in everything, but today, we are behind them. Why? It is because they have a vision while we do not have. No matter how hard things are in a nation, those who can see will always leave behind those who cannot see. Do not forget this: You cannot progress beyond how far you can see. You want to see further than your age, education, social standing and experience? Then locate one or two giants in your field and share your walk with them. If you can put this into practice, in the next five years, you will not only discover your voice, you shall become a voice. See you where great people are found!
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Monday, 5 September 2016
Nigerian Tribune
Photo: GEC.CO
GEC 2017: By Ruth Olurounbi
T
The agenda
HE agenda for the Global Entrepreneurship Congress (GEC) 2017 has been released. The four-day conference that gathers all elements of the global entrepreneurial ecosystem, will feature “ a mix of large-scale plenary sessions for thousands of delegates and more intimate and in-depth parallel sessions conducted by leading global organizations helping entrepreneurs start
next week:
and scale new businesses,� according to the information on the gec.co. On the first day of the congress is the traditional Global Entrepreneurship Network (GEN) meeting, as well as a welcome cocktail, a networking and welcome social event for international delegates, GEN members and partners. The GEN meeting is a closed one for international delegates, GEN members and partners. On the day two is an opening ceremony and welcome, plenary sessions, parallel sessions,
networking sessions and exhibition; as well as GEN Gala + Compass Awards, a ceremony for international delegates, GEN members and partners. Day three will follow same partner as day two, exception for two additions – transition ceremony to GEC 2018 host and networking dinner and social gathering for international delegates, GEN members and partners. Day four, which is the last day of the congress, is interactive experiences, GEN and GEW host meetings, city/ecosystem tours and networking lunch.
How to survive economic recession as an entrepreneur As Nigerian economy is officially in recession, we take a look at the effects on Nigerian entrepreneurs and what they can do to survive in these trying time. Keep an appointment with your vendor!
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By Ruth Olurounbi
N
IGERIAN entrepreneurs have lamented that the country’s system is stifling their survival. Challenges before the country’s entrepreneurs include lack of infrastructure which include power, roads, water, etc, multiple tax levies, lack of access to funding, gender inequality, and most recently, recession, among others. Several entrepreneurs, who spoke with Entrepreneurship+ in the course of two weeks, said that it seemed that there “is a conspiracy against our survival,” some entrepreneurs who didn’t their names in print said last week Two weeks ago, Babatunde Ogunyemi, CEO, Thelma Farms Ltd, in Ijebu Ode, Ogun State, said the government needs to create a conducive environment for business growth in the country. “We need the government to intervene and step up these prospects, empower farmers that are actually involved in exportation. We need to ramp up capacities. Small countries like Ghana has gotten it right, Ghana is our main competitor in Europe. The government must ensure that there’s an enabling environment,” he said. Grace Shobayo, an entrepreneur from Jos, in an email, said the acclaimed provision of access to funding by the Central Bank of Nigeria (CBN), was only a hype on paper, as demands required to be met in order to access loans from country’s commercial banks were daunting. The banks “were all requesting for collateral I cannot provide and six months transaction with the bank. I told them the purpose of the funds and how urgently it is needed but they will not listen to all my stories. In the course of this search, I wrote to BOI and they also gave their requirement that I am not sure anyone can meet. “I tell you that all that CBN is saying are just in papers because the commercial banks that are saddled with these responsibilities will create bottlenecks that will make the facilities inaccessible to MSMEs. I sincerely wish that CBN will take it upon itself to handle the program without involving the commercial and microfinance banks,” she said. Chairman of Heirs Holding, UBA Group and Tony
Monday, 5 September 2016
Challenges before Nigerian entrepreneurs
Elumelu Foundation (TEF), which launched the $100 million Tony Elumelu Entrepreneurship Programme (TEEP), Tony Elumelu, who has been canvassing for conducive business environment at every given opportunity, recently noted that one of the challenges before Nigerian entrepreneurs are “obsolete laws.” In March this year, Elumelu called for review of laws fundamental to the survival of Micro, Small and Medium Enterprises (MSMEs), saying it would go a long way in creating job opportunities for the teeming unemployed Nigerians. “Instead of addressing the symptoms, let us address the fundamentals. Let us hold our National Assembly members accountable; let us knock on their door. They must sit down and pass bills; we need them to pass one bill per week. “We cannot afford to meet one hour a day and adjourn; we should sit down and pass bills. You can imagine what this country will become if we have these proper laws in place, we will not be thinking of oil again,” Elumelu said. Prior to the announcement that the country was in recession, some entrepreneurs lamented the impact of high inflation rates on their business. However, as country’s economy shrunk by two per cent as announced by the National Bureau of Statistics on Wednesday, August 31, 206, entrepreneurs are worried that many of them may have to close shops. It will be recalled that the Nigerian Tribune had reported that more than one million people had lost their jobs in three months, while the Vice Chairman of the Manufacturing Association of Nigeria (MAN), Dr Stella Okoli lamented that several entrepreneurs in that sectors had closed down their business in large numbers. According to NBS, Nigeria’s GDP shrank by 2.06 per cent year-on-year in the second quarter of 2016, compared to a 0.36 per cent contraction in the previous period and below consensus of 1.5 per cent decline. “Generally, cost of generating service has increased
due to the galloping inflation; also the same affects service buyers as they can’t afford luxury anymore thereby reducing patronage,” Jide Oguntokun, an estate letting/leasing business owner said last week
Wednesday. Entrepreneurs in the agric sector have also lamented that their cost of production is higher now, and since access to funds was minimal, many of them are reconsidering
going into business in the next farming season. Miftah Adediran, CEO of Herlow Rudyns Farm, in Oyo State, said: “As with other sector of the economy, we depend so much on diesel to run the farm. We use diesel for tractors and bulldozer for land clearing. Diesel prices rose from N140 to N200/litre. The marketers are claiming they are sourcing for forex at a very high rate hence the increment in pump price of diesel, a development that is affecting our production costs,” he said. As Elumelu noted, non -access to credit facilities as well as difficulty in acquiring land are some of the major problems faced by MSMEs, suggesting that a review of the Land Use Act to make it easier for entrepreneurs to acquire land for their businesses. According to him, the review of the Privatisation
Nigerian Tribune
Act and other relevant laws could change the economic trajectory of the country, if they were passed on time. Basically, as the country tries to figure out how to get out of recession, entrepreneurs have once again called to an enabling environment that would help them grow and help the country’s economy. As figures have shown, small businesses are the backbone of countries’ economies. A 2012 Enterprise Baseline Survey revealed that there are 17 million SMEs in Nigeria, employing 32.41 million persons and makes a contribution of about 46.54 per cent to the nation’s Gross Domestic Product (GDP) in nominal terms. It is, therefore, important that the government empowered the SMEs sector for optimal outputs. “The way to go is to create the enabling environment that would unleash the entrepreneurship in all of us. If a man who is interested in fishing for instance, has access to finance, conducive environment to register the business immediately, and tax duplication is avoided, he will be able to employ people,” Elumelu charged.
How I survived 27 years in business Yemi Sonde’s success stems from a mixture of grit, perseverance and a decided restlessness. In a two-hour long interview, he takes RUTH OLUROUNBI through the start of his journey and where he hopes his destination would be. IN the build up to this interview, you said you’ve been in business as an independent broadcaster for 27 years. I’d like to know how you started, what made you to go into business instead of getting a job like everyone else. I think as a child, I had an independent mind. Sincerely, when I was very small I didn’t like looking up to my parents, even though I had no choice, but I was not comfortable doing that. I wanted to be on my own; I wanted to think for myself. I’ve always learned to be independent, so I think it started from there. And then, I was a very restless person, I think I still am. I find it very difficult to sit still and I have always loved to work, and do business. I get bored when I do same thing, same way every day, so that informed my decision to do go into business. Why broadcasting though? As I child I knew I wanted to be a broadcaster, I knew I was coming into entertainment industry. I had flair for drama and public speaking and for that reason; I decided I wanted to be in the entertainment industry. I think I had that interest when I was in my primary school; I would always be part of the drama group, the drama group that will come on stage during the end of the year drama. I got my interest there as young as I was. When I got to my secondary school, I joined the literary and debating society at school, I like going out and I am an extrovert. I like mixing with people, I like meeting people, I like speaking out, I like speaking for the people, I like making wherever I am
lively, and that’s my nature. You said you had some businesses while in school…? By the time I was in the university I had some business I was involved in. Businesses like hand made cards, barbing saloon, sales of lab coats, etc. I was doing everything. During our holidays, I would go from the station to Tinka Island with a friend, Tunde, now in Canada to sell cars. So by the time I come back to school I had some money to buy clippers, open a barbing shop, and to run a lab coat business. I had huge lab coat business before I left the school. Remember I was in agric department at the time. I also sold to other departments. How did you get into media business fully. You did say you had the opportunity to being a parment staff of a radio station? Yes, I had the opportunity of being a permanent staff of either OGBC or BCOS but remember I said I have a restless spirit? At the time I was gradually becoming a household name so I decided I wanted to expand my scope and make an actual business with it. So I got an office that took care of people will wanted me to anchor an event for them and another office for my broadcasting business. I combined the second office with music videos and cassette sales. At a time, I had video club. I later moved to a bigger office where I started to write stories. From there, I started producing films. You can see that I came into theatre eventually. As you can see, my business has evolved into a full circle. It has metamorphosed into a total entertainment outfit. My business comprised of total entertainment, master of ceremony, VHS marketer, music promotion, and all forms of entertainment production and because of that, I named my company total entertainment but I didn’t register it. I lost that one because I didn’t register it. Why didn’t you register the name, didn’t you know you supposed to do that?
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Monday, 5 September 2016
Nigerian Tribune
ECOWAS, Tony Elumelu Foundation partner to promote entrepreneurship Sanya Adejokun -Abuja ECOWAS Commission and the Tony Elumelu Foundation (TEF) at the weekend signed a Memorandum of Understanding (MOU) for collaboration to deepen and amplify both institutions’ efforts in supporting micro, small and medium enterprises (MSMEs) as well as promoting entrepreneurship and wealth creation. The MOU, which will run for a period of two years allows both organizations to leverage their respective capacities and sharpen their focus on entrepreneurship as a tool of development. Specifically, the collaboration will help to formalize and instill competitiveness in the West-African entrepreneurship ecosystem by developing and implementing a Regional Strategy and Charter to promote best practices in
MSME governance, better access to finance, access to regional and international markets, and capacity building. The partners will also advocate for improvement in the enabling business environment for SMEs through joint organization of workshops along sectoral lines to promote business and investments, and harmonize policies and fiscal issues that create an enabling business environment. Furthermore, the collaboration will spread and strengthen the philosophy of Africapitalism by socializing it with key stakeholders; provide research opportunities in data analysis and gathering on the state of West African SME landscape and; teach Entrepreneurship in the ECOWAS region, including Africapitalism as a study in the national education curriculum (starting from pri-
mary school) of ECOWAS member states. Speaking at the ECOWAS Secretariat, Abuja during the signing ceremony, President of the ECOWAS Commission Mr. Marcel De Souza remarked that ECOWAS sees itself as partners of TEF since both parties share core values on the all-important issue of youth empowerment and poverty reduction in the region. He lauded the TEF initiative which is improving the lives of the younger generation employing the Public Private Partnership (PPP) arrangement and helping to create a model which would not only uplift the youth of the present generation but the larger population of Africa and bringing a collective good to the continent in the process. Also speaking, founder of TEF, Mr. Tony O. Elumelu thanked the ECOWAS
Commission for creating the partnership platform, stressing that, the provision of seed capital to young entrepreneurs is something that must continuously be encour-
aged if Africa is to escape the unemployment and poverty conundrum. “I am convinced by the fact that collectively, caring Africans can help deal with the challenges of unemployment
—Yemi Sonde, YSC Ltd founder It wasn’t that I didn’t know, but I didn’t take it seriously. From that, I had to change the name. If you are to value your current company, how much would you value it? My dear sister, I can’t say that, we are in Nigeria. But I can just say that the company is in a position where it can service the clients comfortably and professionally. From your perspective, are there business opportunities in the media industry? It depends sincerely on your interests, it depends on if you are coming into electronic media, outdoor, print media or digital media. If it is electronic media, I’ll say yes, because that is where I’m grounded. Electronic media now depends on your passion. Are you coming into it from the marketing angle? Are you coming into media agency directly or you want to come into production? If it is production, I’ll now ask about your passion, is it drama, business oriented programme, music chitchat, magazine programmes, sport programme etc. Your involvement depends on the section of the industry you think you would fit in. None of these aspects that are not profitable but they might not be as profitable in an instant as you may have expected. Over time, as long as you are dedicated and truthful, you will make your mark and make profits. What is the secret that has helped you survive 27 years in business? You know the saying, ‘honesty as the best policy’? It is not just simply a saying, it’s in the practice. If you are not honest in this business, you cannot make it. So, you have to be upright, you have to deliver and you have to actually know what you want to do. Like I told you, there very big media agencies out there. Some are bigger than us, some of them started like we started, some of them started bigger than us but what has kept us in business is our integrity. Whichever way you want to go in the media, or any other
business for that matter, you have to have integrity as your watchword. You must be talented, you must be educated, and you must improve yourself every time because the business environment is not a static one; if you stay where you are now, in the next six months you will discover that you are obsolete, whatever you have as an idea will be obsolete. So you have to move with time, you have to move with trend, you have to improve yourself, you have to read, you have to be alive to your responsibilities. As important as the medical doctors are, so also the media entrepreneurs and media professionals because they are the mouthpiece of the society. They are mirror of the society, they are mind molders as well as opinion molders, and opinion leaders. So, you have to know whatever you are doing. After 27 years, what do you look forward to? Strategic expansion. This is about my sixth office and look if through what we have been talking about in the past one and a half hours or so, you will know that the more we grow as a business, the more we expand. And if we say we have office in Lagos, is not to show off, it’s because the job requires we should have another one in Lagos, because we cannot operate everything from Ibadan. Tomorrow we might have another one in Abuja when the need arises, we might have another one in Port Harcourt, but not because we just want to have an expand, but because we need to expand. We are expanding with purpose, we are expanding with a vision and we achieve that, it’s a gradual process.
and poverty by helping our young ones to develop their ideas, realize their dreams and be like the Mark Zuckerbergs of this world” he stated. According to him it is even more important to support business ideas at infancy stages so that they can even grow to attract more attention and patronage, citing the example of Co-Creation Hub; a technology hub in and around Lagos, established to co-create new solutions to the many social problems in Nigeria. “Today they have grown very big and only a few days ago brought Zuckerberg to Nigeria. It gladdens my heart that we encouraged and supported them at infancy, years ago”, he stated. Through his eponymous Foundation, Tony Elumelu Foundation Entrepreneurship Programme - the largest African philanthropic initiative devoted to entrepreneurship- represents a 10-year, $100 million commitment, to identify and empower 10,000 African entrepreneurs, create a million jobs and add $10 billion in revenues to Africa’s economy. De Souza called on other well-meaning citizens of the Ecowas region to emulate and replicate the TEF in their chosen fields.
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Monday, 5 September, 2016
Nigerian Tribune
Early gains from CBN’s initiative to produce, add value and earn foreign exchange In its determined bid to partner fiscal authorities in reflating and diversifying the economy away from oil, Central Bank of Nigeria launched the initiative to produce, add value and earn foreign currency (PAVE). Senior Deputy Editor, SANYA ADEJOKUN takes a look at the initiative and how it is working.
E
XPORTS play an important role in any economy, ancient or modern, influencing the level of economic growth, employment and the balance of payments. Nations have deployed lower transport costs, globalisation, economies of scale and reduced tariff barriers to enhance exports to become a bigger share of national income. Exports growth can lead to general economic growth and then boost employment. On the flip side however, lack of export growth will ultimately lead to current account deficit, which would be an indicator of poor economic performance. Nosedive in foreign earning According to the Central Bank of Nige-
ria, Nigeria’s crude oil production, including condensates and natural gas liquids in the third quarter of 2012 “was estimated at 2.26 million barrels per day or 207.92
barrels for the quarter. Crude oil export was estimated at 1.81 million barrels per day or 166.52 barrels for the quarter, while deliveries to the refineries for domestic
The average price of Nigeria’s reference crude, the Bonny Light, estimated at $111.04 barrel, rose by 1.6 per cent over the level in the preceding quarter.
consumption remained at 0.45 million barrels per day or 41.4 million barrels. The average price of Nigeria’s reference crude, the Bonny Light, estimated at $111.04 barrel, rose by 1.6 per cent over the level in the preceding quarter. Foreign exchange inflow and outflow through the CBN amounted to $14.46 billion and $9.21 billion, respectively resulting in a net inflow of $5.83 billion during the quarter.” Conversely however, by the first quarter of 2016, the bank reported that “crude oil production including condensates and natural gas liquids was estimated at an average of 1.82 million barrels per day or 165.62 million barrels while deliveries to the refineries for domestic consumption remained at 0.45 million barrels per day or 40.95 million barrels during the review quarter. The average price of Nigeria’s reference crude, the Bonny Light fell by continues on pg27
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Monday, 5 September, 2016
How CBN is adding value to foreign exchange at the global stage. It will also alter our taste for foreign goods and help conserve foreign exchange. In essence, PAVE is synonymous to economic diversification with strong export orientation. To achieve the objectives of PAVE, CBN has stepped up activities to support fiscal authorities in reflating the economy through special interventionist programmes.
continued from pg26
22 per cent compared with the level in the fourth quarter of 2015. Provisional data showed that foreign exchange inflow and outflow through the CBN amounted to US$3.98 billion and $5.85 billion respectively, resulting in a net outflow of $1.87 billion.” It is therefore in the midst of the confusion that greeted Nigerians in 2015 when oil prices plummeted to less than US$30 per barrel that CBN announced the PAVE philosophy urging Nigerians to produce, add value, export and earn foreign exchange. It is intended to make Nigerians think Nigeria, breathe Nigeria, exude Nigeria, produce and export Nigeria. It is a campaign aimed at making Nigerians realize the need to embark on domestic production of goods and services, and in addition, make conscious effort in value addition to the value chain. Over the year, there have been efforts by Nigerians to export their goods but probably because there were no conscious efforts to support these mostly small businesses, these efforts remained largely insignificant in terms of contributions to GDP. For example, the shoe maker in Aba should be assisted by making his product’s packaging attractive first to domestic consumers in Nigeria, and secondly to the continental and foreign markets. Example is often cited of South Korea, Malaysia and Singapore, all of which were at the same level of economic development with Nigeria at the time of independence in 1960 but which are presently light years ahead with Korea’s manufacturing companies in automobile, communication and heavy industries competing favourably and even surpassing many of their peers in the West. Thus, the initiative of CBN to motivate Nigerians to “produce locally, add value and export your product and earn your foreign exchange for your imports” (PAVE) to help local industries is a perfect substitute to the hitherto dependence on crude oil production and export with little or no impact on human welfare in terms of employment creation. Over the years, there have been rhetoric about economic diversification away from crude oil but such declarations coincided with periods of burst cycles in the global crude oil market. The current burst cycle is however, unprecedented with most state governments unable to pay staff salaries and hundreds of businesses shutting down and others drastically reducing staff strength and even reducing wages. Most economists have argued that, the existence of agricultural production alongside local industrialization helps to promote and foster enormous forward and backward linkage effects thereby ensuring cohesion in domestic economic activities, without much external dependency. This will help to solve the import substituting industrialization conundrum the country witnessed in the 1970s and 1980s. A situation in which most of the local industries depended solely on imported raw material inputs, machineries and machine parts, with complete absence of integration in the domestic economy and attendant vulnerability to external sector conditions. This was the prevailing economic condition that led the then President Shehu Shagari to declare economic austerity measure in the
Sarah Alade, Deputy Governor, CBN
Also, if Nigerians can embark on value addition by way of processing some of these agricultural commodities into semi manufactures, it will help to fetch local exporters’ better price regime than mere commodity exports. country in 1982. The PAVE Initiative While broaching the PAVE Initiative shortly after a visit to Vice President Prof. Yemi Oshinbajo on October 31, 2015, Governor of the CBN, Mr. Godwin Emefiele said “what we are trying to concentrate on right now is how to improve and deepen the foreign exchange market by improving supply of foreign exchange into the market. And to do so, we are trying to encourage people to export and earn your export proceeds and use your export proceeds to import whatever you need to import. We are also concentrating on how to reduce the import of items that we can produce in the country today. “So that is our focus. I’m saying and very soon the CBN will be launching a campaign called PAVE, which means “Produce locally, add value and export your product and earn your foreign exchange for your imports’’ because this is the only way we can support the efforts of CBN in intervening and providing foreign exchange in the market to meet the import needs of our people. It is very clear, what we need to do is reduce our propensity to import.”
The sublime message of Emefiele’s PAVE is that it represents an escape route to avoid the ugly characteristics and suffering of austerity measures. It is an inward looking approach to the production of goods and services like the Anchor Borrowers’ Programme in the production of rice in Kebbi State. PAVE provides a more sustainable way of stemming the hemorrhage in our foreign reserves. If we faithfully keep to the tenets of PAVE, it would ensure increased domestic production to the point of having excess for export, which will earn the country more foreign exchange. Also, if Nigerians can embark on value addition by way of processing some of these agricultural commodities into semi manufactures, it will help to fetch local exporters’ better price regime than mere commodity exports. Besides, it is envisaged that one of the unintended benefits of PAVE could be in the area of providing the necessary platform for learning-by-doing it process likely to launch these local semi-manufacturing processes into full industrial complex with the necessary economies of scale and competitive edge to compete
Delisting of items from FOREX market In the last quarter of 2015, the Bank released a list of 41 items, which would no longer be financed through official foreign exchange window. According to the Governor who revealed that the decision was taken after a meeting with stakeholders, while “the CBN does not have the power to ban the import of any item. What we have done is to exclude certain items that are imported into the country from obtaining foreign exchange from the Nigerian foreign exchange market.” For the records, the list include rice, cement, margarine, palm kernel/palm oil products/ vegetable oils, meat and processed meat products, vegetable and processed vegetable products, poultrychicken, eggs, turkey, private airplanes and jets, Indian incense, tinned fish in sauce (Geisha/Sardines, cold rolled steel sheets, galvanized steel sheets, roofing sheets, wheelbarrows, head pans metal boxes and containers. Others are enamelware, steel drums, steel pipes, wire rods (deformed and not deformed, iron rods and reinforcing bars, wire mesh, steel nails, security and razor wire, wood particle boards and panels, wood fiber boards and panels, plywood boards and panels, wooden doors, furniture, toothpicks, glass and glassware, kitchen utensils, tableware, tiles, textiles, woven fabrics, clothes, plastics and rubber products, cellophane wrappers, soap and cosmetics, tomatoes/tomato pastes as well as Euro bond/foreign currency band/share purchases. Since this list was released, at least two factories in Lagos and Kano have been commissioned to utilize abundant tomato harvest in the country for the production of tomato paste and their products were certified more wholesome than many of the imported brands. In addition, many local manufacturers have heaved a sigh of relief as their products are now being patronised and consumed. Re-opening of domiciliary accounts CBN has also allowed bank customers to hold domiciliary accounts where they can deposit proceeds of their exports. This is to encourage Nigerians to export their products with the assurance that they could be in control of their foreign currency earnings. With this, diaspora remittances are in full swing again with the resultant effect of wetting foreign exchange market. Anchor Borrowers’ Programme A recent report indicated that Africa spends $35.4 billion on food imports annually. Out of this, Nigeria accounts for $11 billion of this amount, which is obviously not helpful to the country’s quest for food sufficiency and economic diversification.
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Monday, 5 September, 2016
La Casera thrills Abeokuta consumers IT was another opportunity for Carbonated Soft Drink brand, (CSD), La Casera and its consumers in Abeokuta, the Ogun State capital, to interact and bond, when the brand’s ‘Thrill Train,’ in commencement of its nationwide tour, stormed the ancient city recently. Also at the event was Nigeria’s singing sensation, Small Doctor and several other local performers. The brand also provided a platform that saw several consumers
participate in dance, mime and comedy competitions, where hundreds of participants left with numerous prizes and free cases of refreshing La Casera drink. According to the Managing Director, the La Casera Company, Mr Roland Ebelt, the brand had for, over a decade, offered Nigerians with rich, premium and refreshing drink, a development that had earned it the love of millions of consumers across the country and won it several awards
BRANDS &
and recognitions both from industry regulatory bodies and other corporate bodies alike. While explaining the essence of the La Casera Thrill Trail, the General Manager, La Casera, Mr Dave Van Rensburg said “as a company, this is an opportunity to interact and engage with our consumers. And avenues such as this, are greatly cherished.” He added that the La Casera Thrill Trail
Nigerian Tribune
would be in the state for three days, offering consumers a firsthand experience of fun, dance and also an opportunity to reward them with lots of exciting prizes for their loyalty to the brand over the years. Van Rensburg further reiterated the company’s commitment to reaching several of its consumers as the Thrill Trail would be visiting other cities across the country such as Lagos, Ondo, Ekiti, Osun, Ilorin and several others in the coming days.
with Akin Adewakun
MARK TING m:08054683584 e:akadewakun@yahoo.co.uk
DBANJ provides lifelines for creative minds in new lottery platform
From left, Chairman, Electoral Committee, Mr Oladele Adeola; President/ Chairman of Council, Mr Ganiyu Koledoye and Registrar, Mr Sidney Ogodo, all of National Institute of Marketing of Nigeria (NIMN), at a press briefing to announce the institute’s forthcoming council elections in Lagos, recently. PHOTO: SYLVESTER OKORUWA.
AWARD winning artist, Dapo Oyebanjo, also known as Dbanj, recently unveiled a new project, Creative, Reality, Entertainment, Arts, Music (CREAM), designed to reward young, creative minds in the nation’s entertainment industry. Unveiling the project in Lagos to the media, the music icon, stated that the initiative had become imperative since there had been a dearth of such platforms available for a huge number of gifted Nigerian youths, waiting to exhibit their talents.
NIMN, issues as search for new leadership begins Stories by Akin Adewakun
I
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have made up my mind not to re-contest. I said this three years ago when I was vying for the office of the president of the institute, which I presently occupy, and few months to another rounds of election into the same office, I’ve not changed my position on this. The reason is simple. I have seen troubled times in the institute and since the institute is experiencing a new lease of life now, I don’t want to be part of its problems.” The above, coming from the President and Chairman of council of the Nigerian Institute of Marketing of Nigeria ((NIMN), Aare Ganiyu Koledoye, last week, on the institute’s forthcoming elections, no doubt, represents the aggregate feelings among members of the nation’s marketing clan, as the process of putting another council commenced last week. Inaugurating a four-man electoral committee that would midwife the birth of a new leadership for the institute, Koledoye had reiterated his administration’s commitment to peace in the nation’s marketing ecosystem, noting that the constitution of an electoral committee for the institute, an hitherto alien practice, remains of
the ways his administration had hoped to achieve such lasting peace in this highly volatile institute. While Koledoye had been around in the institute’s corridors of power for sometime and therefore, deserves a befitting rest, not a few are, however, of the belief that the outgoing president may not enjoy such luxury if he fails to put in place a leadership, for the institute, that will be able to continue from where he intends to stop on November 18, when he is expected to hand over the baton of power. The Oyo State-born marketing guru, had, in the past few years, been a significant part of the institute’s chequered history. Once a leader of one of the feuding factions of the marketing body, Koledoye’s faction was at daggers drawn with that of another faction, led by Chief Sylva Emoekpere, in those turbulent periods of the institute’s history. Perhaps what endeared him to stakeholders was the ease with which he and Chief Sylva Emokpere, readily conceded the institute most coveted office, to Chief Lugard Aimiuwu, a transformation strategist, brought in by elders within the nation’s marketing space, at that time, to restore peace and stability to the otherwise fragmented marketing body and commence a
process of genuine reconciliation. But to many, all that has become history now. With Koledoye helping Ainiuwu to serve out a part of his term and freely given a threeyear tenure afterwards, not a few believe that the out-going has contributed his own quota to the growth of the marketing body. Perhaps one of such achievements is the relative peace and camaraderie presently existing among members of the institute. For instance, besides waving the olive branch to another faction that nearly disrupted the fragile peace existing in the institute then, the outgoing president was able to fully re-integrate members of that faction to the system, thereby giving the feuding members a sense of belonging. Another of such feats also remains the re-branding of the institute’s identity, as a way of bringing it in tune with trends in the global marketing space, and indicate the willingness of the institute to have a complete break from the image of a feuding entity, which its image connoted in the past. Koledoye’s administration’s decision to extend the frontiers of marketing beyond the nation’s borders, by going into a partnership with a South African marketing institute also represents one of the high-
lights of that administration. Though, currently on hold for technical issues, the partnership, when in full bloom, would go a long way in broadening the knowledge of members, since it will provide that much-needed opportunity for them to compare notes with their South African counterpart. But soothing as all these may sound to the ears, not a few believe that marketing practice in the country still remains a far cry, when compared with the way it fares in other countries. Koledoye’s decision, therefore, not to seek another term, again provides the younger ones in the profession, the opportunity to further reposition the institute and, by extension, the practice. But, how prepared are members for such task? Since it is now glaringly obvious that Koledoye will not be at the helm of affairs as from November 18, this year, when the institute’s elections are expected to have been concluded, who is stepping in to continue from where he must have stopped in November? Interestingly, if the response to the call for nomination from the institute’s electoral body is anything to go by, in the past few days, a lot still needed to be done to get the right candidate to step into Koledoye’s ‘shoes.’
According to him, besides rewarding 10 of those youths and helping them to actualise their dreams, on a monthly basis, some of such youths would also stand the chance of winning through a raffle draw. Supported by the Bank of Industry, MTN and D’kings Men Media Ltd, the artist believes one of the unique features of the CREAM platform, is the fact that the would-be beneficiary would not need to know anybody to emerge winners. “Unlike the regular TV reality shows, the young creative mind is free to participate from any part of the country, without necessarily having to come to Lagos for any audition,” he added. He stated further that whoever emerges top would have the opportunity to win exciting prizes, including a recording deal, which consists of recording a track, shooting a state of the art video, a collaboration with any artiste of their choice (music or video collaboration), talent showcase, talent branding, promotion and marketing, among many others. “We have created this platform to reward tonness of creative minds out there who don’t have the right platforms to showcase their talent to the world. “Nigeria is filled with so much art and creativity and what better way to promote this great heritage than to give these young minds the right platforms. “I am happy to bring to my loyal fans and lovers of good music this exciting platform that the world can benefit from,” he said. The competition, expected to run every month for the next one year, is open to MTN subscribers only, while winners are expected to emerge from three categories including music, video, and collaboration. Interested participants can take part in the daily draws for a month to qualify for the next month and can also be a part of multiple categories to increase their chances of winning.
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Monday, 5 September, 2016
Recession, inflation rate and commodity prices SULAIMON OLANREWAJU looks at the prices of commodities vis-à-vis a contracting economy and a galloping inflation rate.
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HIS is not the best of times for Nigerians as the effect of the recession keeps escalating, thus pushing many further down the poverty line. The National Bureau of Statistics (NBS) announced last Wednesday that the nation’s economy had slid into recession following two quarters of negative growth. The recession did not come as a surprise to many people because quite a number of experts had foretold its imminence given the less than satisfactory performance of the economy. The government had even said early in August that the economy was technically in recession. Therefore, the announcement by the NBS only made official what Nigerians had come to accept as a reality. However, this recession is not the common type because usually recession is characterized by reduced prices as a result of low level of economic activities. Recession is a time of low productivity precipitated by the contraction of the economy. To boost sales, companies reduce their prices, embark on promotional sales and deploy all sorts of strategies to woo customers. But the current recession is nothing like that; it is rather compounded by galloping inflation. Hence, what is happening in the country is not a mere recession but what economists call stagflation. Going by the NBS data released in July, the current inflation rate is 17.1 per cent, the highest in recent times. Consequently, the negative effects of the recession have been far-reaching as the prices of many commodities have hit the rooftop. Three major culprits are responsible for the rising cost of commodities; they are the exchange rate volatility, the exclusion of importers of some items from access to the forex market as well as the increase in the pump price of petroleum products. Being an import-dependent country, prices of commodities rise and fall with variations in the exchange rate of the dollar. Following the victory of President Muhammadu Buhari at the presidential election of 2015, the expectation of the business community was that the government would liberalise the foreign exchange market so as to allow the true value of the local currency to be determined by market forces. This, they said became critical given the reduction of the country’s reserves following the crash in the price of crude oil in
COMMODITIES
COST (JANUARY 2016)
Parboiled Rice (1 bag) Beans (1 bag) Vegetable Oil (25 litres) Palm Oil (25 litres) Yam Flour (1 bag) Garri (Bag) Flour (50kg) Sugar Semovita (5kg) Wheat (5kg) 12.5kg Cooking Gas Cement Kerosene (5 litres) Turkey (1kg) Bread (Loaf) Crate of Eggs Tomato Paste Indomie Air fare, Economy (Lagos - USA) Air fare, Economy (Lagos - London) Tokunbo Golf 1 (car)
AVERAGE COST (AUGUST 2016)
N10,000 N20,000 N18,000 N27,000 N6,500 N13,000 N5,000 N10,000 N40,000 N60,000 N8,000 N12,000 N8,640 N10,800 N8,800 N17,000 N900 N1,500 N900 N1,500 N2,400 N3,700 N1,500 N2,300 N750 N1,125 N800 N1,400 N70 N100 N700 N850 N40 N70 N1,400 N1,900 N350,000 - N400,000 N600,000 - N700,000 N250,000 N400,000 N500,000 - N600,000 N1.3 million - N1.5 million
Source: Nigerian Tribune nationwide survey the global market. They believed that if this was done naira would find its value and investments would pour into the country. But the government did not do that, rather, it deployed the nation’s foreign reserves to defend the embattled currency. This put a gulf between the real value of the currency and its official value, thus forcing many foreign investors out of the country. It also pushed JP Morgan Chase, whose bond index is tracked by over $200billion funds, to delist Nigeria from its Emerging Market Bond Index. Starting from January this year, the exit of foreign investors took a toll on the fate of the local currency as the value of naira started tumbling in an unprece-
dented manner. By the time the government had a rethink and decided to tread the path of economic wisdom of allowing market forces to be the determinant of the exchange rate of naira to other currencies, the economy had almost become prostrate. Naira had been so worsted by the dollar and other currencies that there was no immediate remedy for it. So, the bashing continued. Some of the 41 items whose importers are excluded from accessing forex such as rice and palm oil products are staple foods whose local production is grossly inadequate. With importers having to source expensive dollars to bring them in, their prices naturally went up. Others items which are used in the lo-
Going by the NBS data released in July, the current inflation rate is 17.1 per cent, the highest in recent times. Consequently, the negative effects of the recession have been far-reaching as the prices of many commodities have hit the rooftop.
cal production of other products have to be sourced with expensive dollars and this also means that the prices of those finished products have gone up. The dollar scarcity, which scaled down manufacturing activities while forcing up prices of many commodities, played a significant role in the contraction of the economy in the first quarter, January to March. It was while the economy was trying to resolve the crisis of the crash in the value of naira that the government announced the full deregulation of the downstream sector of the petroleum industry. Since the country imports petroleum products from other countries, the deregulation of the sector pushed the price of petrol to N145 per litre from the erstwhile price of N87 per litre. The resultant effect was instant; prices of many commodities went up just as the cost of transportation also skyrocketed. The combination of these three factors has resulted in the further shrinking of the economy in the second quarter and the seemingly unprecedented rise in prices of commodities. Even the NBS admitted that the increase in the pump price of petrol played a significant role in the spike in prices of commodities. This explains why a bag of rice which was sold for N10,000 in January this year has gone up to
N20,000 by the end of August. It also accounts for the rise in the price of a gallon of vegetable oil, from N6,500 in January to N13,000 at the end of August. A survey conducted by the Nigerian Tribune showed that while the leap in prices of commodities affected imported items the most, other commodities, including farm produce, have not been spared. This is because in Nigeria, prices of commodities are interrelated. In his comment about the rising prices of commodities, President of the Manufacturers Association of Nigeria (MAN), Mr Frank Jacobs, said “An inflation rate of 17.1 per cent, as reported by the National Bureau of Statistics, is severely harmful to the economy. It is significantly responsible for the rolling contraction in Nigeria’s output since the first quarter of 2016 when the economy grew by -0.36 per cent and in the second quarter by -2.06 per cent. “Over the period mentioned above, the cost of raw materials and manufacturing inputs had risen while capacity utilisation declined.” The MAN President added “the 41 items of raw materials that were excluded from the foreign exchange market by the CBN should be reviewed, especially, now that the country operates a flexible foreign exchange regime.’’
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Monday, 5 September, 2016
Bode George, Babatope, Kashamu, others meet, vow to strengthen PDP Bola Badmus - Lagos
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HIEFTAINS of the Peoples Democratic Party (PDP) from across South-West states, including former Deputy National Chairman of the party, Chief Olabode George; former Minister of Transport, Chief Ebenezer Babatope; Senator Buruji Kashamu, among others, said on Sunday that they have resolved to continue to strengthen the party with a common vision and purpose. The leaders gave this
pledge in a statement, tagged, “Yoruba Unity Statement,” and made available to newsmen at the end their three-day parley in Lagos. They rejected attempt, by what they perceived as some external forces, to distort the will of the Yoruba people through the manipulation of the approved list of delegates at the last botched PDP National Convention in Port Harcourt. The meeting, which was held under the leadership of Chief George and attended
also by former Minister of Works, Senator Adeseye Ogunlewe; Senator Robert Koleosho, Dr Saka Balogun, Senator Ayo Adeseun, Erelu Olusola Obada, among others, also took a number of resolutions. The PDP leaders, while observing that the Yoruba people have always been at the frontline in the contribution to the growth and advancement of the Nigerian union, equally resolved that the Yoruba people must not and cannot afford to be pushed to the sidelines in
the leadership processes of the country. They affirmed that they would henceforth sort out all disputes and differences that may arise through amicable internal resolution mechanisms. “The Yoruba people will protect their common abiding unity and will not tolerate any external interference or intrusion in their affairs. “The leaders reject the attempt by some external forces to distort the will of the Yoruba people at the Port-Harcourt National
Convention through the manipulation of the approved list of delegates. “The leaders agree to continue to strengthen the party in the South-West with a common vision and a common purpose “The leaders believe that a consensus platform of unity and traditional brotherhood will enhance the dignity, the purpose and the collective glory of the Yoruba people. “The Yoruba leaders will ensure discipline, encourage loyalty, defend the Omoluabi heritage of our forefathers,” the communique said. Others in attendance included former Minister of Police Affairs, Alhaji Jelili Adesiyan; Honourable Dave Salako, Dr Bayo Faforiji, Chief Joju Fadairo, Honourable Muraina Ajibola, Alhaji Kunmi Mustapha, Prince Remi Akitoye, Senator Akinlabi Olasunkanmi, Bashorun Sunday Ogunlade, Honourable Dare Adeleke, Honourable Soji Adagunodo, Dr Bayo Faforiji, Alhaji Taju Oladipupo, Chief Ishola Filani, Dr Eddy Olafeso.
2017 budget: Fayose, officials tour Ekiti communities The widower and General Evangelist, CAC Worldwide, Evangelist Samuel Kayode Abiara and children, Mrs Taiwo Abiara Omokore and Pastor Elijah Taiwo Abiara, at the Abiara’s residence at Jericho, Idi-Ishin, Ibadan, on Sunday. PHOTO: TOMMY ADEGBITE.
My last moment with my wife —Abiara By Wale Akinselure and Seyi Sokoya
WIFE of the General Evangelist of Christ Apostolic Church (CAC) Worldwide, Evangelist Mrs Christiana Abiara, is dead. Mrs Abiara died in a hospital on Saturday at about 9:00p.m. after falling ill. She died at the age of 70 and survived by General Evangelist, CAC Worldwide, Pastor Samuel Kayode Abiara and children. Speaking with the Nigerian Tribune, Personal Assistant to Abiara, Pastor Johnson Oshati, said Pastor Abiara had taken his wife’s demise as the will of God. Meanwhile, Prophet Abiara has charged Christians, Nigerians and beyond not to weep over the death of his wife, but to rejoice because she had gone to rest in the bosom of the Lord. Describing his last moment with his wife, Abiara told the Nigerian Tribune on Sunday at his IdiIsin residence that the late Christiana waited for him
to return from the mountain of prayer and ensured she received his blessings before she gave up the ghost. He added that, “I prayed for her immediately I returned from the mountain and we even had a little chat on Saturday morning around 6:00 a.m. I also asked her whether she wanted another set of twins and she laughed profusely. After we prayed, she said amen and repeatedly said Hallelujah till she gave up the ghost.” Describing what he will miss most about his late wife, Abiara said, “She was so special to me and I loved her so much. She never related with me like a husband. She always called me her father and she was so supportive to the family and my ministry. My greatest joy is that she slept in the Lord and that there is hope for her in the kingdom of God. I will really miss her, especially for her love to many people; she was very humble and generous and I will describe her hu-
mility as a footstep of Jesus Christ.” One of the children of the deceased, Pastor Elijah Taiwo Abiara, who just returned from the United States, described the death of his mother as a rude shock, just as he noted that though the family had lost a fundamental personality, her good works and the foundation she had laid would not be forgotten. Taiwo Abiara said further, “It is saddening to lose someone that loves you so much. We will greatly miss her, because, mum and dad have impacted so much the lives of all the children.” The younger brother of the deceased, Pastor Johnson James, told the Nigerian Tribune that the death of his sister was a loss that could not be recovered. He revealed that the late Christiana was the only child to her mother and that he was very close to her as a step-brother, adding that, “We both grew up from large polygamous family and she has been a mother
to me since I lost my mother some years back.” Some of the earlier callers to Prophet Abiara include the authorities of the C.A.C worldwide, led by the president, Pastor Abraham Akinosun; General Superintendent, Pastor Samuel Oladele; General Secretary, Pastor, Emmanuel Mapur; Director of Finance, Pastor, Johnson Omotinde; Director of Publicity, Pastor Ademisoye Alawode; Dr Akin Ogunbiyi of Mutual Benefit Insurance Company; gospel singer, Bukola Akinade, popularly known as Senwele Jesu, among pastors, Agbala-Itura faithful and well-wishers. In his condolence note, Pastor Akinosun described the late Christiana “as one in a million who fought a good fight of faith alongside the great prophet of God, Prophet S.K Abiara, a generous, loving and wonderful wife, mother and grand mother; we shall miss you greatly, but our firm belief is that you are resting in the bosom of our Lord Jesus…”
Sam Nwaoko - Ado Ekiti
GOVERNOR Ayodele Fayose of Ekiti State and members of his cabinet have commenced a tour of the 133 communities in the state for their input into the 2017 appropriation. This is a follow-up to an earlier meeting held last week at the Government House in Ado Ekiti, where the governor addressed leaders of communities, including traditional rulers and chiefs, on the plan of the government to obtain their inputs as the state prepares the 2017 budget. Before Governor Fayose addressed the community leaders, the Accountant General of the state and Permanent Secretary, Mrs Oluwayemisi Owolabi, had presented the state of the finances of Ekiti State to the gathering and had also explained the state’s income from the federation account. In continuation of the consultation with the communities for their inputs in the 2017 budget, Governor Fayose was in Asin-Ekiti community in Ikole Local Government Area where he presented the monarch, Oba Abraham Babalola, with a staff of office after five years of coronation.
Nigerian Tribune
LAUTECH Teaching Hospital records groundbreaking surgical procedure By Paul Omorogbe
LAUTECH Teaching Hospital (LTH) Ogbomoso, Oyo State, has announced that it has successfully carried out a groundbreaking surgical procedure in the treatment of gall bladder infection in a 14-year-old boy. Acting Chief Medical Director, Dr Ademola Aremu, who made the announcement during a media tour of state-of-the-art equipment in the hospital, said the procedure was carried out using a minimal invasive surgery machine such that only a pin hole perforation was done instead of a large incision in the body as been traditionally done in medicine. “Our paediatric surgeon, Dr Adebayo Adedayo performed a laparoscopic cholecystectomy on the boy successfully in an efficient manner, minimising loss of blood and saving time. This operation is a landmark in modern methods of carrying surgical operations which no hospital in SouthWest has been able to do,” Dr Aremu said. It will be recalled that LTH, which only began operations in 2011, is the teaching hospital arm of Ladoke Akintola University of Technology (LAUTECH), Ogbomoso.
Iwajowa LG boss lauds creation of LCDAs THE Chairman, Iwajowa Local Government Area of Oyo State, Honourable Egunjobi Samuel Modepoola, has declared that the creation of the Local Council Development Areas (LCDAs) would aid rapid development in the state. According to him, since the advent of Governor Abiola Ajimobi-led government, local government councils in the state had become vibrant in terms of infrastructural development. Egunjobi noted that rural development was a catalyst for overall development of the country because of the highest concentration of human population and the natural resources in rural communities. He said the establishment of the councils was a welcome development. While commending Governor Ajimobi for taking a bold step, the chairman called on traditional rulers, community and religious bodies to rally support to fast-track the take off of the LCDAs for the benefit of the masses.
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APC primaries: Abraham, Olabimtan applaud process
Oke kicks
Hakeem Gbadamosi – Akure
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HE closest rival of Mr Rotimi Akeredolu who emerged, on Saturday, as the candidate of the All Progressives Congress (APC) for the November 26 governorship election in Ondo State, Mr Olusegun Abraham, has congratulated him with a pledge to work towards the success of the party at the poll. Akeredolu defeated Abraham with a total of 669 to 635 to emerge as the winner of the contest, beating 23 others in the race for the party’s ticket. Abraham, who pledged to join hands with Akeredolu to reposition the state, also assured the people of the state that APC government would not disappoint them. He said “The APC is a party consistently determined to bring prosperity and good governance to the people of Nigeria, and I will ever remain loyal to our party and its ideals and principles. “I pray that our God will bring the much-needed prosperity we seek to Ondo State in earnest. I will not turn my back to my loving people of Ondo. I will continue to contribute my quota to the development of our state in any way God directs.” He commended the Jigawa State governor, Alhaji Badru Abubakar, for conducting a free and fair election and appreciated his supporters for showing maximum solidarity throughout the campaign period. “I am not unaware of the pains you feel right now; with so much fervour, you all took our message of industrialising Ondo State to every nook and cranny,” he said. Similarly, the former Speaker of the House of Assembly, Honourable Victor Olabimtan, also congratulated Akeredolu over his victory at the primaries, saying he emerged as the flag bearer of the APC through the most credible primaries ever witnessed in the state. Olabimtan, who promised to support Akeredolu in winning the forthcoming governorship election, called on other aspirants to “close ranks and team up with our candidate to record a resounding victory for the APC, come November 26, 2016.” Meanwhile, a group within the party, Movement Against Imposition (MAI), has hailed the party leadership over the transparency
of the primaries. Speaking on behalf of the group, the coordinator, Saka Yusuf Ogunleye, described the Ondo APC primaries as one of the best in the history of the state. Also speaking, the Publicity Secretary of the party, Abayomi Adesanya, said the election was a clear indication that power resides with the people. Meanwhile, the Peoples Democratic Party (PDP) governorship candidate in the 2012 governorship election in Ondo State and an aspirant in the just concluded primaries of the APC in the state, Chief Olusola Oke, on Sunday, kicked against the result of the primaries that produced Mr Akeredolu as the party candidate. Speaking through his Campaign Director General, Bola Fisayo, he said the election was not the true reflection of the delegates that participated in the last Saturday’s primaries. Oke specifically noted that some names of the delegates were removed from the list while non delegates were allowed to vote.
According to him, the list of delegates handed over to the aspirants at a meeting with the presidency was different from the list of delegates brought by the Chairman of the Election Committee who is also the Jigawa State governor, Alhaji Muhammed Badaru. He stated that the list was shown to the aspirants at the eleventh hour and there was no adequate time to scrutinise the list by most of the aspirants. He said about 110 names belonging to Oke’s camp were removed from both Ondo East and West while over 300 names were replaced across the 16 local government areas of the state with non executive members of the party as delegates. He said the list was doctored in other local government areas where they discovered Oke to be strong Apart from the injection of names of non delegates, he alleged that the process of the primaries was fraudulent, saying delegates were substituted midway to the voting centres.
Ondo guber: Mimiko calls for prayers THE Ondo State governor, Dr Olusegun Mimiko, has called for prayers as preparations heighten towards the November 26 gubernatorial election in the state. He stressed that only prayers can sustain the prevailing peace being enjoyed by the people since the beginning of his administration. Mimiko implored the saints and people at large to help the state with prayers so that peace which has been a permanent feature of the state is not breached. While addressing the congregation at the 70th anniversary service and dedication of the main auditorium of the Christ Apostolic Church (CAC) Oke Igan, in Akure, at the weekend, Mimiko said all elections conducted under his administration have been peaceful, including the ones conducted by the trade unions. Dr Mimiko lauded the president of CAC worldwide, Pastor Abraham Akinosun, who was in the service and other saints for their prayers for the peace of Nigeria and the success of his administration. He admonished the church not to relent in prayers for
Ondo State, especially as it is about to witness another governorship election. Dr Mimiko urged Nigerians not to be discouraged by the present economic situation in the country, but to be optimistic and deeper in their prayers for the nation. He said “I’m bold to say it anywhere that your prayers have upheld us in this state. We have continued to enjoy peace, which does not come ordinarily but through your prayers. It is clear that all the elections that have been concluded since we came on board have been peaceful. Even the NURTW election that used to be chaotic was conducted inside our Dome peacefully.” Speaking while praying for the governor and the people of the state, Pastor Akinosun lauded Governor Mimiko for bringing unprecedented development to the state and leading the people closer to God. Earlier in his sermon, the General Superintendent of CAC, Pastor Samuel Oladele, regretted that many Christians today have been deceived by fake doctrines, adding that in spite of the proliferation of churches, Nigerians have continued to swim in sin.
Monday, 5 September, 2016
Nigerian Tribune
Edo:Ize-Iyamu, govt trade blames over flooding on Ugbowo Road Banji Aluko - Benin City
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HE Peoples Democratic Party (PDP) governorship candidate in Edo State, Pastor Osagie Ize-Iyamu, has said that if the state governor, Adams Oshiomhole, had listened to the advice given him by road construction engineers, the flood that daily ravages many parts of Ugbowo axis of the Benin-Ore Expressway would have been consigned to the past. The PDP candidate faulted the construction of the two service lanes added to the road by the government of Governor Oshiomhole, adding that the governor added the service lane to the road in order to deceive the people of the state that it was his government that reconstructed parts of the expressway within the Benin metropolis. The PDP candidate, who said this at the weekend during a PDP rally held at Adolor Road, Egor Local Government Area of the state, said it was regrettable that a road such as the Adolor Road could be left untouched by the state government, assuring that he would prioritise the road if elected. “He was advised to do the adjoining roads instead of adding a lane by the sides of the road. He, however, declined the advice given him because he wanted to create the impression that he was the one doing the Ugbowo
Road. “He was inspecting the road everyday to create this impression. The money spent on the side lanes he constructed could have done the adjoining roads such as Adolor Road. The so called extra- lanes were unnecessary, the design was bad, the consequence is the flooding in the adjoining streets.” The PDP candidate, who was joined by the Edo State chairman of PDP at the campaign rally, asked the people of the area to punish the APC during the election, pointing out that “they have leveled huge taxes upon you
Planned protest: Ize Iyamu afraid of defeat —Obaseki THE Godwin Obaseki Campaign Organisation (GOCO) has described as an expression of fear of defeat, the planned protest by a group loyal to the candidate of the Peoples Democratic Party (PDP) in the forthcoming Edo State governorship election, Pastor Ize Iyamu. In a statement issued in Benin City, on Sunday, the campaign organisation said the protest planned by the group, Redemption Group, was meant to disrupt the peace of the state. The statement added, “We wish to alert members of the public and the security agents on the cowardly plan of PDP, its candidate and
We’ll vote Obaseki to appreciate Oshiomhole — Ogbeson community Banji Aluko - Benin City
AS a mark of appreciation to the Edo State governor, Comrade Adams Oshiomhole, for his intervention in reclaiming the gully erosion-ravaged areas of Ogbeson community, the leadership of the community has promised to vote for the candidate of the All Progressives Congress (APC), Mr Godwin Obaseki in Saturday’s governorship election in the state. The community which presented an award of commendation to Governor Oshiomhole and endorsed Obaseki as their candidate, said they will support the governor as they will never forget how he saved them from being consumed by gully erosion. Enogie of Ogbeson, Professor Aduwa Ogiegbaen, who spoke for the community said “I want to say that the people of Ogbeson love you, they appreciate what you have done. We will support all the way in whatever you are doing.
and asking you to vote for continuity.” In a reaction, the Edo State Commissioner for Information, Prince Kassim Afegbua, said the problem of flooding on the road was caused by the refusal of the contractors employed by the Federal Government to put side drains on the road. “The problem of road in the entire Benin City is the absence of drains as there are no primary or secondary drains to empty rain water. How will you say that someone who built a road with side drain is the cause of the problem?”
“We are sitting here today because of you. We couldn’t stand here three years ago, let alone sitting down. Those who didn’t see what happened here in the previous years will not appreciate what happened here.”
their agents provocateurs to cause mayhem before, during and after theelection. “Our candidate, Mr Godwin Obaseki, and our teeming supporters have maintained peaceful campaign, despite physical attacks, harassment and intimidation from the opposition, insisting that election and political office is not a do-or-die matter.” It said further that when Obaseki got wind of the planned protest, he, in a published statement, charged his fellow contestants from other political parties in the forthcoming governorship election to keep the peace before, during and even after the election. Obaseki said: “Cowards die many times before their death, the sponsored protest slated for Monday is an act of cowardice intended to blackmail the Independent National Electoral Commission(INEC), taunt the police and other law enforcement agents and intimidate the voters.”
PDP expresses concern over deployment of INEC officials THE Peoples Democratic Party (PDP), in Edo State, said at the weekend that it was in the dark over the identities of the officials of the Independent National Electoral Commission (INEC), who would conduct Saturday’s governorship election in the state. In a statement signed by its publicity secretary, Mr Chris Nehikhare, the PDP said it had written a letter to the electoral body, requesting a meeting between its officials and those of the commission. The party said that it was aware that the accredited
officials of the commission had already met with the All Progressives Congress. The letter to INEC, according to PDP reads in part, “As part of our preparations for the Edo State election slated for Saturday, September 10, we have formally requested for a meeting with staff (local government collation officers, returning officer for the state, staff in charge of card readers, E-collation officers and members of the ICT team) of INEC assigned to the state to conduct the elections in Edo State.”
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news
Monday, 5 September, 2016
Why we took over Jonathan’s cousin’s business premises —Army Taiwo Adisa and Chris Agbambu - Abuja
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HE Nigerian Army has defended its takeover of the business premises of Karkatar Construction Company, which belonged to Mr Robert Azibaola, cousin of former President Goodluck Jonathan. The army, had, on Friday, took over the business premises of the construction company, chasing away its staff and refusing to allow them resume work on Saturday. The army spokesman, Colonel A.K. Usman, who spoke to the Nigerian Tribune, said that the company was occupying a land that belonged to the army, adding that it would not be allowed to retain the land. The location belonged to the army, adding that the army was determined to recover its land. The military, had, around 8.00 pm on Friday, took over the premises of the construction company, which is handling the provision of infrastructure facilities to Maitama Extension, a district that houses the proposed official residences of the vice president and the principal officers of the National Assembly. The military men said to be from Lingui Barracks, which shares fence with the company, were said to have taken position at the gate of the complex at about 8.00 pm and took over the complex. During a visit to the company's premises, at the weekend, it was discovered that the soldiers had took over the entrance and refused entry. The spokesman of Karkatar Construction Company, Austin Ekeinde, confirmed that the soldiers invaded the premises of the company, adding that the workers had been directed to return home
to avoid any confrontation with the armed soldiers. "I can confirm to you that armed military men have taken over our site in Maitama and we have asked our workers to go back to their respective homes till further notice while we try to get clarification from the military authorities on their provoca-
do not know the reason for our being here Azibola has been having a running battle with the Economic and Financial Crimes Commission (EFCC), over allegations that one of his companies, One Plus Limited, collected security contracts worth $40 million through the office of the former National Security Ad-
viser (NSA), Colonel Sambo Dasuki. The EFCC had charged Robert Azibaola and OnePlus, to court for allegedly receiving a $40 million security contract from the office of Col onel Dasuki. The Karkatar managing director , has however been granted bail by a Federal High Court, Abuja.
Igala accuses Kogi gov of marginalisation in civil service Allegations unthinkable —Bello YinkaOladoyinbo-Lokoja
THE Igala Cultural and Development Association, on Sunday, accused the Kogi State governor, Alhaji Yahaya Bello, of marginalisation and discrimination against the Igala extraction in the state. The association alleged that the state government had been discriminating against the Igalas in the civil service. The national president of the group, Josiah Idechu, who disclosed this to newsmen in Lokoja, the state capital, said despite the optimism with which the people welcomed the Bello-led administration, events of the last few months, showed that the
government had not been fair and just to the Eastern part of the state. He said the people received with caution, the decision of government to send the Head of Service( HoS), permanent secretaries and many top government officials on compulsory leave, despite the controversies generated by the decision. “The bitter angle to this is that those who eventually fill these vacancies, especially, those hitherto occupied by the Igalas, are incidentally, non Igalas and in most cases, his own Ebira ethnic stock, for a government that lay claim to supernatural influ-
Nigeria, ECOWAS parliament to strengthen ties —NASS clerk Taiwo Adisa - Abuja CLERK to the National Assembly (CNA), Alhaji Mohammed Sani-Omolori, said on Sunday that the Nigerian parliament will strengthen its ties with parliaments across the West African region and the Economic Community of West African States (ECOWAS) Parliament, to ensure regional growth. The clerk, was quoted as making the commitment in a statement by his Chief Press Secretary (CPS), Andrew Oota. According to the statement, the clerk told the Secretary
Viable leadership critical to national development —Lawmaker
THE chairman, parliamentary council, Oyo State House of Assembly, Honourable Segun Ajanaku, has said that viable leadership played critical role in the development of any nation. Honourable Ajanaku, said this while speaking on the need for Christians to be worthy leaders/ambassadors of Christ, at the 2016 convocation ceremony of the International College of Ministry, an affiliate of Ames Christian University, United States of America, in Ibadan, Oyo State, at the weekend. “We have a lot of responsibility to our society, respective families and the nation. Every segment of the society need viable ambassadors. Ambassador of Christ are great men of honour” he said. While saying that the crisis in the country goes beyond political sphere, he lamented
tive action. A soldier on duty, who volunteered to speak without being identified said: “We are on order from the Chief of Army Staff to take over this place and not to allow anyone in or out of the premises.” "It was one of our generals, who led the team of soldiers to take over this place, but we
that the nation’s problems are always blamed on politicians. “An ambassador will maintain the rule of engagement of his nation. We are instrument of positive change any where we found ourselves,” he said. Earlier, the president of the college, Dr Rowland Peters, had said that the vision of the college was to train qualified and anointed workers, clerics and leaders as well as help individuals discover their talents and gifts. Dr Peter averred that the institution will continue to provide current and helpful information to clerics and leaders on better effective ways of evangelism. He said that the institution had already developed a viable curriculum of current courses, adding that since its inception, the institution had trained church leaders locally and internationally.
General of ECOWAS parliament, Dr Magbegbola Nelson, during a courtesy visit at the weekend, that the Nigerian Parliament would not treat the regional parliament with levity. The statement indicated that the leadership of ECOWAS Parliament was at the National Assembly to congratulate the CNA on his elevation to the highest bureaucratic position in the Nigerian legislature. The statement mentioned some members of the top management of the National Assembly at the visit to include the Clerk of Senate, Mr Nelson Ayewoh; secretary legal services, Mr D. T Adem; director, public Affairs, Mr Yahaya Danzaria, among others. It quoted Sani Omolori as assuring the ECOWAS Parliament of the readiness of the Nigerian Parliament to collaborate with other parliaments in the areas of capacity building for Nigerian lawmakers as well as in the provision of quality advice to lawmakers to ensure that good laws are passed by for use of the people. The statement also indicated that the CNA told the ECOWASParliament to see Nigeria as a trusted ally in the quest for a strong democratic culture, adding that "we are committed to having a harmonious working relationship with ECOWAS parliament, we are prepared to partner with ECOWAS parliament and beyond, in other to upgrade and improve the quality of lawmaking in our countries as well as entrench a high democratic culture."
ence in his emergence, it amounts to sacrilege to lead unjustly. “Apart from appointing his tribesmen and women into key, perceived juicy positions, there are abundant of evidence that Igalas are being victimised in the civil service, even when they have done nothing to warrant such”. But Bello has described the allegations as figment of the imagination of the group, saying he had always delt with the people of the state on equal basis with consideration for ethnicity and other parochial sentiments. Speaking through his Chief Press Secretary (CPS), Kingsley Fanwo, he said, “Facts don’t lie. What the governor has done in bridging ethnic mistrust is unprecedented. "His first three appointCONFIRMATION OF NAME I, Olorundunmade Temitope Esther am the same person as Olorundunmade Tope E. and Olorundunmade Tope Esther. Henceforth, I want to be known and addressed as OLORUNDUNMADE TEMITOPE ESTHER. All documents bearing these names remain valid. Osun State Polytechnic, Iree and general public take note.
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ments speak to his detribalised nature as a leader and change the perception of many to leadership. “For the first time in the political history of the state, a Chief of Staff (CoS), was appointed from outside the governor’s ethnic group. This is not only historic, but a clear definition of government direction. "Out of 15 commissioners, only four came from the governor’s ethnic group, the lowest of the three ethnic groups. What Governor Bello has done is a clear departure from the past." “It is, therefore, unthinkable for anyone to accuse him of ethnic bias. He has done what no leader had done before his advent. He had walked the talk of unity and should be applauded by all.
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I, formerly Grace Gbemisola Akinniranye now GRACE GBEMISOLA ONAWUNMI. All former documents remain valid. Zenith Bank Plc., and general public take note.
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OSOBAN holds AGM
THE National Executive Committee (NEC), Oke-Are Seminary Old Boys Association of Nigeria (OSOBAN), has commenced the plan to hold its Annual General Meeting (AGM), in October The AGM, scheduled to hold on Saturday, October 1, at St. Theresa's Catholic Minor Seminary, Oke-Are, Ibadan, will be preceded by OSOBAN NITE, on Friday, September 30, at the Jubilee Conference Centre, Oke-Ado, Ibadan. The OSOBAN NITE, an annual reunion programme, is aimed at making old students of the minor seminary unwind and recall memories of their days in the school and provided opportunity for members to interact with one another. The AGM Holy Mass will be marked by members who are having their 50th priestly anniversary such as Anthony Cardinal Olubunmi Okogie, Most Reverend Felix Alaba Job, Cardinal Tumi of Cameron, among others. The AGM will also witness a football match between St. Theresa's Catholic Minor Seminary, Ibadan and Sacred Heart Catholic College, Ibadan. President of the association, Segun Ogunade, said that the AGM will bring together members from various branches such as Abuja, Lagos, Abeokuta and Ijebu-Ode, adding that members in the diaspora, will also attend the programme . CONFIRMATION OF NAME
I, Patricia Ose Inegbedion am the same person as Inegbedion Patricia Imad, Inegbedion Patricia Imade and Inegbedion Patricia as they appear in different documents. Now, I want to be known and addressed as PATRICIA OSE INEGBEDION. All documents bearing these names are mine and valid. General public take note.
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I, formerly Victor O l u w a t o m i l a y o Fabeku now VICTOR O L U WA T O M I L AY O OLUWASINA. All former documents remain valid. General public take note.
I, formerly Olanipekun Sarat Omolabake now AJIBOYE SARAT LABAKE. All former documents remain valid. General public take note.
I, formerly Miss Oni Oluwaseun Grace now MRS. TOBI OLUWASEUN GRACE. All former documents remain valid. Authorities concerned and general public take note.
I, formerly Miss Afolabi Jemila Omolara Dada now MRS. OWOSENI JEMILA OMOLARA DADA. All former documents remain valid. General public take note.
I, formerly Miss Awosika Fehintola Tobi now MRS. ADENIRAN FEHINTOLA TOBI. All former documents remain valid. General public take note.
I, formerly Ayodele Roseline Adesewa now OREKOYA ROSELINE ADESEWA. All former documents remain valid. Wema Bank Plc., and general public take note.
I, formerly Olusegun-Temitayo now ANIMASHAUN-ABDULFATAI ADEYEMI. All former documents remain valid. General public take note.
I, formerly Ogbu Alex Segun now OGBU ALEX ONYEKA. My date of birth is August 6th, 1991 and not June 6th, 1991. All former documents remain valid. General public take note.
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I, formerly Olaniyan Abiodun Fisayo now OLANIYAN FATIMO ABIODUN. All former documents remain valid. General public take note.
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I, formerly Miss Lasisi Adijat Ajibike now MRS. ADETUNMOBI ADIJAT AJIBIKE. All former documents remain valid. Relevant authorities and general public take note.
I, formerly Miss Oluwakemi Rebecca Aretade now MRS. OLUWAKEMI REBECCA ATITEBI. All former documents remain valid. General public take note.
I, formerly Miss Awoyele Adeola Funmilola now MRS. RAJI ADEOLA FUNMILOLA. All former documents remain valid. General public take note.
I, formerly Miss. Falese Elizabeth Olayinka now MRS ABOGUNRIN ELIZABETH OLAYINKA F. All former documents remain valid. Osun State SUBEB, NYSC and general public take note.
I, formerly Miss Okaba Catherine Alorye now MRS. AYENI CATHERINE ALORYE. All former documents remain valid. General public take note.
I, formerly Banjo Adewale Lateef now BANJO WALE OMOGBOLAHAN. All former documents remain valid. General public take note.
I, formerly Olalekan Akeem now OLALEKAN AKEEM AROWOLO. All former documents remain valid. General public take note.
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I, formerly Miss Adekoya Remilekun Florence now MRS. OBAJULUWA REMILEKUN FLORENCE. All former documents remain valid. General public take note.
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I, formerly Miss Onotanemere Monica Ufuoma Ibijoke now MRS. OGUNBONA UFUOMA IBIJOKE. All former documents remain valid. General public take note.
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35 CHANGE OF NAME
I, formerly Ogungbesan Olufemi now OGUNGBESAN OLUFEMI JOSEPH. All former documents remain valid. General public take note.
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Monday, 5 September, 2016 CHANGE OF NAME
I, formerly Mrs Adeola Adedokun now MISS ADEOLA EBUNOLUWA THOMAS. All former documents remain valid. GTBank Plc and general public take note. CONFIRMATION OF NAME
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I, formerly Mrs Olaseinde Eunice Oyenike now MRS ILESANMI EUNICE OYENIKE. All former documents remain remain valid. Ekiti State Ministry of Health and general public take note.
I, formerly Miss Popoola Comfort Bolanle now MRS AJEKIIGBE COMFORT BOLANLE. All former documents remain valid. General public take note.
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I, formerly Aborisade Opeyemi Simon now JAMES OPEYEMI SIMON. All former documents remain valid. General public take note.
I, Ogunkorode Martins Adebayo Abiona am the same person bearing Martins Abiona. Henceforth, I wish to be known and addressed as OGUNKORODE MARTINS ADEBAYO ABIONA. All documents bearing these names remain valid. Skye Bank Plc, First Bank of Nigeria Plc and general public take note.
I, formerly Miss Oduola Modinat Adenike now MRS ADEKUNLE MODINAT ADENIKE. All former documents remain valid. General public take note.
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CHANGE OF NAME I, formerly Afolabi, Yetunde Oluwakemi now TAIWO YETUNDE OLUWAKEMI. All former documents remain valid. General public take note. CHANGE OF NAME I, formerly Adegoke Lukman now ADEGOKE LUKUMAN ADEKUNLE. All former documents remain valid. General public take note. CHANGE OF NAME
CHANGE OF NAME I, formerly Mrs Ojarikre Monica now MRS OJARIKRE MONICA NBALI. All former documents remain valid. General public take note. CHANGE OF NAME I, formerly Adeleke Afeez Adejare now MAKINDE AFEEZ ADEJARE. All former documents remain valid. General public take note. CHANGE OF NAME
I, formerly Oniwinde Olurinwale now OLALERE OLURINWALE JAMES. All former documents remain valid. General public take note.
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I, formerly Miss Adetomi Funke Adegbile now MRS FUNKE ADETOMI SOSANYA. All former documents remain valid. General public take note.
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I, formerly Miss Falana Oluwaranti Elizabeth now MRS.ADEDEJI OLUWARANTI ELIZABETH. All former documents remain valid. General public take note.
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I, formerly Adedokun Sidikatu Adenihun now ADEDOKUN SIDIKATU SINATU. All former documents remain valid. General public take note.
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I, Adeniran Motunrayo Morufat, formerly Adeboye Motunrayo Morufat now ADENIRAN MOTUNRAYO MORUFAT. All documents bearing my former name remain valid. General public take note and whom it may concern. CONFIRMATION OF NAME
I, Avwunufe Sonesta Akpo am the same person bearing Avwunufe Sonesta. Henceforth, I wish to be known and addressed as AVWUNUFE SONESTA AKPO. All documents bearing these names remain valid. General public take note.
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I, formerly Idowu Anthonia Abosede now MRS EMMANUEL ANTHONIA ABOSEDE. All former documents remain valid. Nursing and Midwifery Council of Nigeria, Federal Radio Corporation of Nigeria, Ibadan and general public take note.
CHANGE OF NAME I, formerly Okpetu Samuel Oluwatobiloba now OKPETU SAMUEL OBASEKI. All former documents remain valid. General public take note. CHANGE OF NAME
I, formerly Adisa Zulaihat Yetunde now ASIMIYU ZULAIHAT YETUNDE. All former documents remain Valid. General public take note.
I, formerly Miss Blessing Osariemen Itepu now MRS BLESSING AMBROSE OMOAREGHAN. All former documents remain valid. General public take note.
I, formerly Okorie Ikennaya Agwu now AGWU IKECHUKWU OKORIE. All former documents remain valid. General public take note.
CHANGE OF NAME I, formerly Olopade Isiaka Asaiah now OLOPADE AREOYE ISIAKA. All former documents remain valid. General public take note.
I formerly Mrs Eunice Oyewole now OMOLABAKE OYEWOLE. All former documents remain valid. EcoBank Plc and general public take note.
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CHANGE OF NAME I, formerly Amoo Babatunde Opeyemi now YISAU RILIWAN BABATUNDE. All former documents remain valid. General public take note. CHANGE OF NAME I, formerly Yemisi Omotayo now OLUWAYEMISI O M O W U N M I OMOTAYO. All former documents remain valid. General public take note. CONFIRMATION OF NAME
CORRECTION OF NAME My name Onyemelukwe Uche Chinesom was wrongly written in my WAEC certificate as Onyemelukwe Uche Chisom instead of my correct name, ONYEMELUKWE UCHE CHINESOM. All documents bearing these names remain valid. General public take note.
CHANGE OF NAME I, formerly Miss Makinde Saudat Alaba now MRS ABIOYE GRACE ALABA. All former documents remain valid. General public take note. CHANGE OF NAME
CHANGE OF NAME I, formerly Adediran Bola B. now ROLEOLA BOLA B. All former documents remain valid. First Bank of Nigeria Plc and general public take note.
I formerly Miss Ogunkoya Kikelomo Oluwafisayo now MRS EGBEKUNLE KIKELOMO OLUWAFISAYO. All former documents remain valid. General public take note.
I, formerly Sulaiman Muammed Saheed now OYEWALE SAHEED OLATUNDE and my correct date of birth is 17th April, 1995 and not 17th April, 1991. All former documents remain valid. Authorities concerned and general public take note.
I, formerly Iyiola Adedayo John now IYIOLA ADEDAYO EMMANUEL. All former documents remain valid. GTBank Plc, Skye Bank Plc and general public take note.
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CHANGE OF NAME AND CORRECTION OF DATE OF BIRTH
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CONFIRMATION OF NAME
I, formerly Ogunwusi Damola Victor now MURITALA IDRIS ABIODUN. My correct date of birth is 25th of February, 1982 and not 15th November, 1990. All former documents remain valid. General public take note.
I, Usang Precious am the same person bearing Omini Alice Usang. Henceforth, I wish to be known and addressed as OMINI ALICE USANG. All documents bearing these names remain valid. Access Bank Plc, First Bank of Nigeria Plc and general public take note.
CHANGE OF NAME I, formerly Miss Adeoye Adebola Risikat now MRS GIWA ADEBOLA RISIKAT. All former documents remain valid. General public take note.
I, Afolabi Michael Ahmed am the same person bearing RAFIU HAMMED MICHAEL. All documents bearing these names remain valid. General public take note.
This is to inform the general public that I, Ibipomi Oyeyemi Oladapo (maiden name) am the one and same as MRS IBIPOMI OYEYEMI OGUNDIPE (married name). All documents bearing these names remain valid. General public take note.
I, formerly Miss Ademoyewa Temitope Itunuoluwa now MRS ADEFAYE TEMITOPE ITUNUOLUWA. All former documents remain valid. General public take note.
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I, formerly Ayanmrere Helen Emmanuel now MENEMIOFOH-IKAKA AYANMRERE HELEN. All former documents remain valid. General public take note.
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I, formerly Miss Eniola Olufisayo Fatogun now MRS ENIOLA OLUFISAYO ADESANMI. All former documents remain valid. General public take note.
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I, formerly Odunade Bolatito now SANNI BOLATITO MUSILI. My correct date of birth is 10/4/1975 and not 5/7/1972. All former documents remain valid. General public take note.
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I, formerly Miss Adegbemi Taibat Abolanle now MRS YEKEEN TAIBAT BOLANLE. All former documents remain valid. General public take note. CONFIRMATION OF NAME I, Obiyomi David Oluokun am the same person bearing Obiyomi Oluokun. Now, I wish to be known and addressed as OBIYOMI DAVID OLUOKUN. All documents bearing these names remain valid. General public take note.
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I, formerly Miss Ajeigbe Rebecca Olufunke now MRS AYORINDE REBECCA OLUFUNKE. All former documents remain valid. General public take note.
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I, formerly Miss Mary Mofoluwake Ogunlade now MRS FOLUKE ROSEMARY ADEYEMO. All former documents remain valid. Oyo State Government, Hospital Management Board and general public take note.
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I, formerly Achimugu Solomon Egene Ocholi now EGENE SOLOMON OCHOLI. All former documents remain valid. General public take note.
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I, Onifade Jumoke Fatima am the same person bearing Onifade Jumoke Morenikeji. Now, I wish to be known and addressed as ONIFADE JUMOKE MORENIKEJI. All documents bearing these names remain valid. FCMB Plc, Fidelity Bank Plc, GTBank Plc and general public take note.
I, formerly Gbeminiyi Owolabi Saheed now GBEMINIYI OWOLABI ADEOYE. All former documents remain valid. General public take note.
CHANGE OF NAME I, formerly Miss Olatunde Ronke Morenikeji now MRS ABODERIN RONKE MORENIKEJI. All former documents remain valid. General public take note. CHANGE OF NAME
I, formerly Isaac Akandaoluwa Abraham-Adegboyega now ISAAC BABATUNDE FAGBOHUNGBE. All former documents remain valid. General public take note.
I, formerly Akinade Yusuf Ayodeji, Akinade Ayodele Yusufu and Akinade Ayodeji Yusuff now AKINADE AYO YUSUFF. All former documents remain valid. General public take note. CONFIRMATION OF NAME
I, Akintola Olanrewaju Olaleye born on 17th day of April, 1989 am the same person as Akintola Olanrewaju O and Akintola Leye Olanrewaju. Henceforth, I wish to be known and addressed as AKINTOLA OLANREWAJU OLALEYE. All documents bearing these names remain valid. Osun State Polytechnic, Iree and general public take note.
CHANGE OF NAME I, formerly Tijani Mikail Abayo now TIJANI MIKAIL ABDULAI. All former documents remain valid. General public take note.
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I, formerly Miss Akadri Bilikisu Blessing now MRS OHIO-OSAWEME BILIKISU BLESSING. All former documents remain valid. General public take note.
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I, formerly Oyekunle Fathiat Nike now MRS ADESHINA FATHIAT NIKE. All former documents remain valid. NYSC, Federal Polytechnic, Offa and general public take note.
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I, formerly Mrs Ibrahim Priscilla Dorcas now MRS ONAJOLE PRISCILLA DORCAS. All former documents remain valid. General public take note.
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I, formerly Miss Anoko Njideka Lilian now MRS ONWUCHEKWA NJIDEKA LILIAN. All former documents remain valid. General public take note.
CHANGE OF NAME I, formerly Nurudeen Faniyi now NURUDEEN ISMAILA. All former documents remain valid. General public take note. CHANGE OF NAME
I, formerly Faniyan Tunde Olumide now FANIYAN BABATUNDE ADERELE. All former documents remain valid. UBA Plc and general public take note.
I, formerly Charles Yangai Danladi now MATHIAS CHARLES YANGAI. All former documents remain valid. General public take note.
I, formerly Owolabi Babatunde Solomon now OWOLABI SOLOMON OLATUNDE. All former documents remain valid. First Bank Plc and general public take note.
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CHANGE OF NAME AND CORRECTION OF DATE OF BIRTH
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I, formerly Mr Adebayo Joseph Akinola now MR ADEBAYO OJO JOSEPH. All former documents remain valid. Fidelity Bank Plc, other banks and general public take note.
I, formerly Gabriel Joshua Alex now GABRIEL JOSHUA GODSTIME. My correct date of birth is 7th day of June, 1991. All former documents remain valid. General public take note.
I, formerly Miss Onigbinde Tomilola Oyeronke now MRS ARIGBEDE TOMILOLA OYERONKE. All former documents remain valid. General public take note.
I, Ajayi Julianah Temiloluwa am the same person bearing Ajayi Julianah Oluwadunsin. Henceforth, I wish to be known and addressed as AJAYI JULIANAH TEMILOLUWA. All documents bearing these names remain valid. Diamond Bank Plc and general public take note.
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CHANGE OF NAME I, formerly Ibeh Ifeoma now IBEH MARY UGOCHI. All former documents remain valid. General public take note. CHANGE OF NAME I, formerly Miss BabatundeOlatunji Adetutu now MRS AHAMAD ADETUTU. All former documents remain valid. General public take note. CHANGE OF NAME
I, formerly Ayanda Folasade Ruth now AJIBIKE FOLASADE RUTH. All former documents remain valid. General public take note.
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CONFIRMATION OF NAME
CHANGE OF NAME I, formerly Francis Clem now OSHIOMHA CLEMENT. All former documents remain valid. General public take note. CHANGE OF NAME
I, formerly Miss Inemesit Joseph Euoh now MRS INEMESIT AKAM UKPE. All former documents remain valid. Nigerian Airforce (NAF) and general public take note.
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I, formerly Adesina Olatundun Olayemi now TOLUWASE OLATUNDUN OLAYEMI. All former documents remain valid. General public take note.
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I, formerly Silas Damilola Sapphire now SILAS DAMILOLA IFEOLU. All former documents remain valid. General public take note.
I, formerly Olagunju Sina now OLAGUNJU ISIAKA ADESINA. All former documents remain valid. OYSADEP and general public take note.
CORRECTION OF NAME I hereby declared that my correct names are Yinusa Adekunle Jimoh and not Yinusa Jimoh Oyeniyi. Now, I wish to be known as YINUSA ADEKUNLE JIMOH. All former documents remain valid. General public take note.
I, Afolabi Akeem Alao am the same person as Rasaki Akeem Alao Afolabi. Henceforth, I wish to be known and addressed as AFOLABI AKEEM ALAO. All documents bearing these names remain valid. GTBank Plc and general public take note.
CHANGE OF NAME I, formerly Oladoja Bola now OLADOJA BOLANLE MISTURA. All former documents remain valid. General public take note.
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I, formerly Zainab Isah Yusuf now ZAINAB RABIU YUSUF. All former documents remain valid. Ankpa LGEA, First Bank Plc, Access Bank Plc and general public take note.
I, formerly Miss Yinusa Tawakalitu Motunrayo now MRS OYEWOLE T A W A K A L I T U MOTUNRAYO. All former documents remain valid. General public take note.
I, formerly Miss Farinade Deborah Oluwakemi now MRS ORIOWO DEBORAH OLUWAKEMI. All former documents remain valid. OAUTHC, Ile-Ife and general public take note.
I, formerly Miss Felicia Oluwapemi Adereti now MRS FELICIA OLUWAPEMI FOLARIN. All former documents remain valid. General public take note.
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I, formerly Aina Sayo now ADEKEMI O L U WA F U N M I L A Y O ALUKO. All former documents remain valid. General public take note.
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CHANGE OF NAME I, formerly Ibukun Bolanle Arike now OLAOLUWA BOLANLE ARIKE. All former documents remain valid. General public take note. CONFIRMATION OF NAME
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I, formerly Miss Adejuwon Opeyemi Roseline now MRS FALUGBA ADEDOYIN OPEYEMI ROSELINE. All former documents remain valid. General public take note.
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news How to end herdsmen’s attacks —Ekweremadu
36
Monday, 5 September, 2016
•Insists on Nigeria’s restructuring Taiwo Adisa - Abuja
D
EPUTY President of the Senate, Senator Ike Ekweremadu, on Sunday, said Governors in Igboland can end incessant clashes between farmers and Fulani herdsmen, by passing legislations that restrict cattle rearing to modern ranches, while also setting up Forest Rangers to enforce the laws. Ekweremadu, according to a statement by his Media Adviser, Uche Anichukwu, made the proposal while speaking at the World Igbo Congress, holding in New York, the United States of America. According to the Senate number two man, the states could end incessant attacks by Fulani herdsmen on
Igbo communities and other parts of Nigeria, by passing laws that restrict cattle grazing. He also maintained that unless Nigeria was restructured, the country might not be effectively run. The Deputy Senate President said in the statement that unless Nigeria was restructured, to make it more efficient and productive, it would be difficult for the country to wriggle out of security challenges, pervasive poverty and retarded growth.
He stated that without restructuring, successive leaders would only be dealing with the symptoms and not the root causes of a festering illness. He decried what he called unacceptable “incessant havocs” wrecked by suspected herdsmen in the name of cattle grazing, adding that the development was having monumental socio-economic consequences on the nation. The Deputy Senate President, however, commended the efforts of various state
governments at managing the humanitarian crisis resulting from the attacks, and ensuring there was no total breakdown of law and order, through reprisals. He said every legitimate step must be taken to end the menace of incessant attacks, and to avoid a dangerous situation where the people begin to resort to self-help. “Governments of various states in Igboland and indeed, other parts of the country, should immediately consider enacting leg-
islations that would confine cattle-rearing to modern ranches as obtainable in developed societies. “In fact, our governments could go a step further to invest in constructing and leasing out modern ranches. “This will produce healthier animals, give better products, provide employment, added value to the farm products, and help in promoting peaceful coexistence as well as sifting armed bandits and terrorists from real farmers doing legitimate business,” he said.
Audu’s award not linked to Supreme Court judgment —Kogi govt Yinka Oladoyinbo - Lokoja
THE Kogi State government, on Sunday, said the posthumous leadership award bestowed on the late All Progressives Congress (APC) governorship candidate, Prince Abubakar Audu, was not meant to serve any diversionary purpose but to recognise the contributions of the late leader to the infrastructural development of the state. The Chief of Staff to the governor, Mr Edward Onoja, made the clarifications following comments credited to the son of the late leader, Mohammed Audu, over the award. The junior Audu was said to have described the award as “self-serving and diversionary”. Onoja, however, said Governor Yahaya Bello conferred the highest leadership award on the late Audu because it was a unanimous decision that no past Kogi governor had impacted the state developmentally in the last 25 years like him. “It wouldn’t be surprising for Mohammed Audu to go to press to say the award was diversionary and self- serving. How does that serve the governor? Rather, it serves the political family of the late Audu. It serves the memory of the late Audu, it serves the good people of Kogi East and generality of the Kogi people,” he said. Onoja said it was unfortunate and illogical for anybody to think that the award was connected to the pending case at the Supreme Court. “Bestowing award on the late Prince Abubakar Audu has no bearing with the awaited judgment at the Supreme Court.
Oyo PDP stakeholders’ meeting in Lagos not proper —Olopoenia By Nurudeen Alimi
A stakeholders meeting held in Lagos by some members of the Peoples Democratic Party (PDP) in Oyo State last Friday has been described as not proper. This statement was credited to a top notcher of the party in Oyo State, Alhaji Adebisi Olopoenia, while speaking with the Nigerian Tribune over the weekend. He noted that there was no basis of holding a stakeholders meeting outside the state if there was the need for one in the first instance. “Although, I was not at the meeting but the information I got has it that no notable member of the party in Oyo State was at the meeting. “The chairman of the party, Yinka Taiwo, was not there, so also the likes of Senator Teslim Folarin, Senator Hosea Agboola, Honourable Segun Odebunmi, former leader of the House of Representatives, Honourable Mulikat Adeola Akande, Raji Rasaki and host of others were not there.”
Rivers govt to partner Deeper Life Christian Ministry for spiritual renewal Dr Jane Adebusuyi (middle); her husband, Mr Fola Adebusuyi (first left); outgoing president, Mr Olawale Olayemi (second left) and the Assistant Governor, Mr Idowu Olakunmi, at the installation of Dr Adebusuyi as the new president of the Rotary Club of Ibadan, Oritamefa, recently.
Dangote joins board of ONE Campaign THE ONE Campaign has announced the appointment of the President/ Chief Executive, the Dangote Group, Alhaji Aliko Dangote to its board. A statement from the anti-poverty group said Dangote, one of Africa’s most prominent business leaders, will bring his wealth of
expertise and experience to bear on development and poverty fighting efforts. The announcement follows shortly after Dangote and ONE’s co-founder Bono during a visit to a camp for the Internally Displaced Persons (IDPs), fleeing from instability caused by Boko Haram in
the North East, observed that without immediate aid about 50,000 children would risk death this year. In view of this, a partnership between ONE and the Dangote Foundation was struck to strengthen civil society and boost efforts to fight poverty and preventable disease in Nigeria.
Avoid divisive tendencies, Okowa charges political office holders DELTA State Governor, Dr Ifeanyi Okowa, has charged political office holders to be accommodating and avoid divisive tendencies. The governor gave the charge on Sunday, at the Sacred Heart Catholic Church, Umunede, Ika North-East Local Government Area of the state, during a thanksgiving mass in honour of the Provost, College of Education, Agbor, Dr Joseph Ukadike. According to Governor Okowa, “as someone holding position in government, you must find a way to accommodate everybody, the more we begin to identify ourselves as one people,
the better for us. “If we realise that we are brothers pursuing the same course, there is no way we will not achieve success,” the governor said. He reiterated that “the times are difficult, but collectively, we need to begin to think as a people and find a way of tackling the challenges.” Governor Okowa used the opportunity to call for prayers for the country, asserting, “we need prayers because God is the only one who can help us, hope is never lost, we need to work together, we need to return to God, trust in God and our dream for a prosperous
life will be achieved.” He congratulated Dr Ukadike on his appointment, noting that at God’s appointed time, without struggle, people will get what they deserve. Reverend Fr. Emmanuel Nwankwo in a homily, urged Christians to always forgive their enemies and put God first in whatever they do. The member representing Ika North East constituency in the Delta State House of Assembly, Commissioner for Higher Education, Mr Jude Sinebe, traditional rulers, political office holders, among other attended the ceremony.
“On behalf of the board and ONE’s seven million members worldwide, I am delighted to welcome Aliko Dangote. It is a privilege to have someone with so much knowledge and experience to help guide the efforts of ONE. “We are at a crucial point in the fight against extreme poverty with many opportunities, but also many challenges. It is only by working with someone of Aliko Dangote’s calibre that we can succeed in our aim,” Tom Freston, chairman of ONE’s board, said. Speaking about his new role, Dangote said: “I am extremely happy to be part of this incredible organisation. The goal of ending extreme poverty is so important that everyone has a duty to help, and I am honoured that I too will be able to play my part by advising and supporting the leadership of ONE.” It will be recalled that through Dangote Foundation, the Nigerian business mogul has for sometime been at the forefront of poverty and disease eradication in Nigeria.
RIVERS State Governor, Nyesom Wike has stated that the state government will partner with the Deeper Life Christian Ministry to hold monthly crusades in the state for the spiritual upliftment of the state and her people. Addressing the Double Portion Crusade of the Deeper Life Christian Ministry in Port Harcourt on Saturday, where the General Superintendent of the Church, Pastor William Kumuyi ministered to the state, Governor Wike said the monthly hosting of the Crusade would help in transforming the state. The governor stated that the monthly crusade was needed for Pastor Kumuyi and the leaders of Deeper Life to intercede on behalf of Rivers State. He noted that investing in the spiritual growth of the state was necessary for its overall development. “No man can provide security, other than God. Only God can move this state forward. We have worked hard and we seek God’s grace to consolidate our efforts,” the governor said. He said the crusade was a happy moment for the people of the state as it marked a new beginning.
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Monday, 5 September, 2016
foreig naffairs
08116954632 with seyi gesinde foreignn ewseditor@gmail.com
G20 summit: US, Japan warn Theresa May on Brexit
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World leaders at the G-20 summit in China. PHOTO: AP
HERESA May has had a difficult start to the G20 summit as President Barack Obama said the United Kingdom would not be the priority for a United States trade deal and Japan issued an unprecedented 15-page warning about the consequences of Brexit. The prime minister had been hoping to pitch the United Kingdom as a global leader in free trade during her first major outing on the world stage at the G20 summit in Hangzhou. However, May, according to Guardian, UK, was immediately confronted with harsh warnings about the consequences of leaving the EU and diplomatic tensions with the Chinese over her concerns about their involvement in UK nuclear power. After her first bilateral meeting with Obama, May was warned that the US wanted to focus on trade negotiations with the EU and a bloc of pacific nations before considering a deal with the UK. This was swiftly followed by a message from Japan to the UK that there could be a string of corporate exits from the UK unless some of the privileges that come with access to the single market are maintained. The lengthy document from Tokyo gives a list of
possible consequences of Brexit and a series of specific requests from Japanese
businesses. About half of Japanese investment in the EU comes to the UK, includ-
Pope declares Mother Teresa saint MOTHER Teresa of Calcutta, known as the “saint of the gutters” during her life has been declared a saint of the Roman Catholic Church by Pope Francis. The declaration took place on Sunday, 19 years after her death Reuters reported. Tens of thousands of pilgrims packed St. Peter’s Square at the Vatican for a service to honour the tiny nun, who worked among the world’s neediest in the slums of the Indian city now called Kolkata. A Nobel peace laureate, her legacy complements Pope Francis’s vision of a
Mother Teresa
humble church that strives to serve the poor. Standing under a canvas hung from St. Peter’s Basilica showing the late nun in her blue-hemmed white robes, Francis said Mother Teresa was a “dispenser of divine mercy”.
Pope Francis however, held world powers to account “for the crimes of poverty they created”. “For Mother Teresa, mercy was the salt which gave flavour to her work, the light which shone in the darkness of the many who no longer had tears to shed for their poverty and suffering,” Pope Francis said. No fewer than 120,000 people attended the ceremony to celebrate the life of a woman who Francis said it might be difficult to call “Saint” as people felt so close to her they spontaneously used “Mother”.
US, Russia fail to reach Syria ceasefire deal
Russian President Vladmir Putin and United States President Barack Obama.
Singapore confirms 27 more locally transmitted Zika cases SINGAPORE authorities on Sunday confirmed 27 more cases of locally transmitted Zika virus infection, bringing the total to 242. Twenty-five new cases were linked to the initial outbreak area, one was linked to a potential new cluster and the remaining new case had no known links to any existing cluster, the Ministry of Health and National Environment Agency said in a joint state-
ing from companies such as Nissan, Honda, Mitsubishi, Nomura and Daiwa. “Japanese businesses with their European headquarters in the UK may decide to transfer their head-office function to continental Europe if EU laws cease to be applicable in the UK after its withdrawal,” the report concludes. It says: “In light of the fact that a number of Japanese businesses, invited by the government in some cases, have invested actively to the UK, which was seen to be a gateway to Europe, and have established valuechains across Europe, we strongly request that the UK will consider this fact seriously and respond in a responsible manner to minimise any harmful effects on these businesses.”
ment. “There is a potential new cluster involving one previously reported case and a new case today...,” the statement said. Zika infections in pregnant women have been shown to cause microcephaly - a severe birth defect in which the head and brain are undersized - as well as other brain abnormalities, Reuters said. The connection between
Zika and microcephaly first came to light last fall in Brazil, which has since confirmed more than 1,800 cases of microcephaly. In adults, Zika infections have also been linked to a rare neurological syndrome known as Guillain-Barre, as well as other neurological disorders. The virus was first identified in Uganda in 1947 and was unknown in the Americas until 2014.
THE United States and Russia came up short on Sunday in attempts to finalise a ceasefire deal in Syria, as US President Barack Obama said “grave differences” remained and fighting on the ground continued. Russia and the US have been striving for weeks to secure a ceasefire between Syrian President Bashar al-Assad’s government and moderate rebels that would expand humanitarian access to hundreds of thousands of civilians caught in the crossfire. According to AlJazeera, the strategy has hinged on an unlikely US-Russian militarily partnership against “extremist groups” operating in Syria. But beyond the Islamic State in Iraq and the Levant (ISIL) and al-Qaeda, Moscow and Washington have conflicting views about who fits in that category.
otherNEWS
HIV-positive Ugandan women complain of forced sterilisation in govt hospitals A study carried out in nine districts of Uganda by the International Community of Women living with HIV Eastern Africa (ICWEA) has found 72 out of 744 HIV-positive women surveyed had been sterilised. Twenty of them had been forced to undergo the procedure, or it had happened without their consent, according to Reuters report. Hajarah Nagadya of ICWEA said that 18 of the 20 forced sterilisations had been carried out in government hospitals, and two cases occurred in private clinics. “These women need psychological support such as counselling because a
lot is going through their mind,” Nagadya said. “Others want to consider a legal action, go to court and have the government compensate them.” A spokesman for Uganda’s Ministry of Health said it was not government policy to sterilise women living with HIV/AIDS. Asuman Lukwago, the permanent secretary at the ministry, said such cases of forced sterilisation were a criminal offence. However, he said there may be exceptional circumstances in which doctors may decide to sterilise women if they believed their lives would be in danger in pregnancy.
Angela Merkel defeated in home state election ANGELA Merkel’s ruling CDU party has been beaten into third place by an antiimmigrant and anti-Islam party in elections in a northeastern German state, TV exit polls have suggested. The Alternative fuer Deutschland (AfD) party took 21 per cent of the
vote behind the centre-left SPD’s 30.5 per cent. BBC stated that the German chancellor’s CDU was supported by only 19 per cent of those who voted, according to the exit polls. The vote was seen as a key test before German parliamentary elections in 2017.
Robert Mugabe lambasts Zimbabwe judges over protests ZIMBABWEAN President Robert Mugabe has criticised judges who give permission for anti-government protests which later turn violent. He said the judges showed a reckless disregard for peace, and warned that they should not dare to be negligent when making decisions. The opposition has accused him of trying to intimidate the judiciary, BBC said. On Monday, opposition supporters are going to court to challenge a twoweek ban on demonstrations. There have been a number of violent protests in
Zimbabwe in recent weeks as the country’s economic crisis deepens. The president recently warned protesters there would be no Zimbabwean uprising similar to the “Arab Spring”. He has routinely blamed the country’s economic problems on sabotage by Western critics of his policies - which include the seizure of white-owned commercial farms for black people. Mr Mugabe was reported to have told a conference of the governing Zanu-PF’s youth wing on Saturday that “enough is enough” and he would not permit violent protests to carry on.
Zimbabwe President Robert Mugabe
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communitynews
Monday, 5 September, 2016
Ogun adopts platform to project grassroot potential by joseph ajayi
IN a bid to promote the activities of micro and small-scale businesses at the grass roots, Ogun State government is collaborating with Aniwura.com Foundation and the National Association of Small Scale Industries (NASSI) by adopting a digital platform for marketing locally produced goods. Commissioner for Local Government and Chieftaincy Affairs, Chief Olajide Ojuko made this known at a meeting with Transition Committee Chairmen of the 20 local government areas in the state. According to him, the partnership with the foundation and NASSI would bring more development to the grass roots and expose the potential that abound in the rural areas for wealth creation and
job opportunities for rural dwellers. “The world is going digital and Ogun State will not be left behind in this digitalisation move. This partnership will expose our grass roots to high level development, wealth creation and employment opportunities for our youths, thereby making our state a pacesetter’’ Ojuko remarked. The commissioner said a pilot scheme would be put in place in two local government areas in each of three senatorial districts of the state. They are Odeda and Ewekoro in Ogun Central; Ogun Waterside and Remo in Ogun East as well as Ipokia and Imeko Afon in Ogun West Senatorial Districts. The Managing Director of Aniwura.com Foundation, Princess Iwayemi Ogomudia, pointed
Traditional ruler lauds Fayose for returning ADP to Ikole THE Elekole of IkoleEkiti, Oba Ajibade Fasiku, has commended the Ekiti State governor, Mr Ayodele Fayose, for returning the headquarters of the World Bank-assisted Agriculture Development Programme (ADP) in the state to IkoleEkiti. The monarch also lauded the Fayose administration for dualising the major road in the town. In a statement on Sunday by the governor’s Chief Press Secretary, Mr Idowu Adelusi, in Ado-Ekiti, the monarch gave the commendation when the governor visited him in his palace. Oba Fasiku, who expressed appreciation to the governor for fulfilling his electoral promise on the ADP and road project, also commended the governor for making positive impact on the lives of the people of the state despite the economic downturn in the country. The traditional ruler, however, appealed to the governor to rehabilitate the road that passes through the town to the Federal Government College site. In his response, Governor Fayose noted that any leader who works for the people is also working for himself, as posterity would not forget him. He promised to do more than the monarch had requested, saying that the second half of his tenure would witness more developmental strides across the state. Earlier, the governor had presented the staff of office to the Alasin of Asin-Eki-
ti, Oba Abraham Olufemi Babalola, in his palace. The governor also used the occasion to sensitise the people on the preparations for the 2017 Budget of the state. He said another meeting of traditional chiefs would hold to seek their views on the activities of the state government. In his speech, Oba Babalola described the governor as someone who believes in justice and fair play, noting that the governor had by his action, assuaged the feelings of the people whose monarch had been on the throne for five years without the staff of office.
out that the partnership would not only accelerate growth in the rural areas
but also project Ogun State through the digital platform on areas of compara-
IN fulfillment of its corporate social responsibility, the Nigerian Navy has, again, reiterated its determination to assist the needy, especially in the area of healthcare delivery. Commander, Nigerian Navy Hospital, Warri, Commodore Lawal Adams, gave the assurance at the Central Naval Command Medical Rhapsody Programme held in Aladja community, in Udu Local Government Area of Delta State. The rhapsody programme offered free medical services to the people of the community. According to the commander, the exercise is designed to promote navy-civilian relationship. Commodore Adams,
creation of wealth and job opportunities for the youth as te ultimate goal.
From left, wife of Alasin of Asin-Ekiti, Olori Funmilayo Babalola; the Alasin of Asin Ekiti, Oba Olufemi Babalola and Ekiti State governor, Ayodele Fayose, during the presentation of staff of office to Alasin in Asin-Ekiti in Ikole Local Government Area by the governor.
Indigenes call for resuscitation of Igbomina Oba’s meeting Biola Azeez-Ilorin
A
socio-cultural association of all indigenes of Igbomina in Kwara State, the Omo Ibile Igbomina, has advocated the resuscitation of regular joint meeting of all traditional rulers of the area to foster unity and development. The people of Igbomina are found in three local government areas of Isin, Ifelodun and Irepodun of
Kwara state, with five first class traditional rulers and several others in the second class category. Speaking during a special quarterly meeting of the association in Ilorin, on Thursday, the national president, Timothy Adebayo, who canvassed quarterly meeting of Igbomina kings, said the meeting should be held in the historical town of Ajase Ipo. He observed that the meeting would give the traditional rulers a sense of be-
Navy promises assistance to the needy Ebenezer AdurokiyaWarri
tive advantage, as well as its assets in small scale and micro businesses with the
who is a surgeon, said, “we want to establish normal relationship with members of the public and ensure that we are always there for them. Also speaking, Dr. Gabriel Ode, a medical doctor at the navy hospital, enjoined the natives to always embark on regular check-up. He lamented that many people living with HIV/AIDS believe they
would die prematurely. According to him, “some HIV victim, believe they would die prematurely and often refuse to marry. If you are a victim, you can marry and have children because it will not affect your children.” Dr. Ode also told nursing mothers living with HIV/AIDS that they can breast feed their babies. He, however, advised
longing and encourage better understanding among them and their subjects. Adebayo, who noted that separate traditional council meetings of traditional rulers in Igbomina in their local government areas would not help foster progress, unity and development in the entire Igbomina land, added, “when they resume the joint meeting as was the case before the creation of the local government areas, they would be able to discuss matters
them to always seek medical attention. Meanwhile, PresidentGeneral of Aladja community, Odogene Elias, has commended the Nigerian Navy Central Command for rendering the medical assistance to members of the community and asked that the gesture should continue. He assured the navy of total support from the community.
Ibadan North LG boss charges committee members on sanitation
THE Chairman of Ibadan North Local Government Area of Oyo State, Hon. Yinka Akinbode, recently charged the newly appointed members of the caretaker committee to always participate actively in the weekly sanitation exercise through proper coordination of the people in their
various wards. The council boss gave the charge in Ibadan during the swearing-in ceremony of the caretaker committee members at the local government secretariat, Agodi-Gate, Ibadan. According to Akinbode, the importance of the sani-
tation programme could not be overemphasised because it would guard against outbreak of epidemic and flood disaster. He further said: “Your appointment as members of the transition committee is a call to service for the betterment of our people.
of interest bordering on sustainable peace, greater development, security and improved living standard of indigenes of the area.” The association, which congratulated the two traditional rulers who were recently elevated as first class royal fathers in the state by Governor Abdulfatah Ahmed (Olusin of Isanlu Isin, Oba Solomon Oloyede and Olupako of Share, Oba Abubakar Garba), said the traditional rulers would assist government in its efforts at promoting peace and security in the area. Speaking on the planned Igbomina Day scheduled to hold in November 2016, the national president said the festival was aimed at raising N500 million for the establishment of Igbomina community radio station by obtaining a licence and acquiring equipment as well as providing modern facilities in the Ile Igbomina (Igbomina town hall) in order to make the place generate revenue. Adebayo also said the occasion would witness the conferment of honorary awards on sons and daughters of the area, who had distinguished themselves in their different areas of endeavour. Notable among them are movie practitioners, Alhaji Yinka Quadri from Oro; Chief Ade Afolayan (Adelove) from Agbamu; Ray Eyiwunmi from Aran Orin; Pa Olasehinde (Ajirebi) from Patako; fuji musician, Alhaji Abdulwasiu Ajibola (Pasuma) from Oro; Raji Owonikoko from Ijomu and Alhaja Hasanat Abake from Share.
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Monday, 5 September, 2016 Editor: Ganiyu Salman tribunesporteditor@yahoo.com 08053789060
Promotion exams for referees to hold every two years —NRA By Nurudeen Alimi
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HE Nigerian Referees Association (NRA), has said promotion examination for referees in the country will now hold every two years. Rising from its Annual General Meeting in Bauchi, the NRA resolved that the year gap to be observed for taking promotion examination henceforth will now be two years for the respective Grades. RIT referees are expected to observe two years before taking Grade 3 exams and Grade 3 referees will wait for two years before sitting for Grade 2 Examination and according to the NRA, this rule is also applicable to Grade 2 and 1 referees.
The body also hinted that all those who failed the 2016 NRA Examination will be permitted to take the next examination in the present dispensation. After a prolonged deliberation on the issue of rebate for matches, The NRA frowned at the decision of some active referees, referees assessors and Match Commissioners’ non-payment of rebates. Therefore, it was agreed at the meeting that defaulters shall be sanctioned and recommended for delisting. The National Financial Secretary, was however, directed to work out adequate rebate to be paid by FIFA Referees for international matches for the Association, Council and States.
NTTF picks 12 for World Junior Championships
Ojomu
Uganda ends 39-year AFCON wait Qualifies for Gabon 2017 UGANDA qualified for the 2017 Africa Cup of Nations (Afcon) finals after beating Comoros 1-0 at the Mandela National Stadium in Kampala on Sunday afternoon.
The Cranes of Uganda went into the final Group D encounter knowing that only a victory would send them to the 2017 Afcon finals for the first time since
Rooney becomes most capped English player
Rooney
WAYNE Rooney became England’s most capped outfield player when he was awarded his 116th cap by new manager Sam Allardyce in Sunday’s opening 2018 World Cup qualifier away to Slovakia. Team captain Rooney, 30, surpasses his former England teammate David Beckham, who was capped 115 times by his country. Goalkeeper Peter Shilton, capped 125 times, holds the overall record. “I think it is always important and an honour to represent your country,” Rooney said on the eve of the
game in Trnava. Rooney is also England’s record goal-scorer with 53 goals, having broken Bobby Charlton’s longstanding record of 49 in September 2015. As expected, the Manchester United skipper was selected in a number 10 role behind Harry Kane as England began life under Allardyce. Allardyce took over from Roy Hodgson, who stepped down as manager following England’s humiliating last 16 defeat by Iceland at Euro 2016.
Mikel, Ikeme shift focus to 2018 W/Cup qualifier CARL Ikeme and Mikel John Obi say their focus is now on Nigeria’s 2018 Fifa World Cup qualifier against Zambia in Ndola on October 3. Both players featured in their country’s final 2017 Africa Cup of Nations qualification game against Tanzania at the Nest of Champions on Saturday which they won by a goal, but now “look forward” to the start
of the qualification for the World Cup in Russia. Mikel, 29, calls on the country “to stick together” for the coming World Cup qualifiers which will see them face Algeria, Cameroon and Zambia. The Nigeria captain also took time to speak on their performance against Tanzania and explained that their lack of cutting edge in the final third against the
Taifa Stars was down to “a couple of reasons”. “I appreciate the support we got here. On behalf of the team, we are thankful for that. We played really well though we created lots of chances. We couldn’t score more than one for a couple of reasons. Now we need to stick together and we want the same kind of support we got here and do well for the World Cup
qualifiers which is very important now,” said Mikel. “I hope the next time we come back here we will have many more victories here.” Wolverhampton Wanderers stopper, Ikeme, also buttressed the role played by the 12th man at the Uyo stadium in their win over Tanzania with his eyes now fixed on the coming World Cup qualifiers.
1978. Uganda made their intentions clear in the opening stages of the Group D encounter as they pressed Comoros for an early goal. However, Comoros goalkeeper Ali Ahamada made brilliant saves to deny Farouk Miya and Geoffrey Massa in the first 15 minutes of the game. At the other end, Uganda goalkeeper Denis Onyango pulled off a decent save from a tame Comoros freekick in the 24th minute. The deadlock was finally broken in the 38th minute when Miya pounced from close range and he made it 1-0 to Uganda, much to the delight of the home crowd. The Cranes were leading 1-0 at halftime after containing Comoros in the dying minutes of the first half. Four minutes after the restart, Comoros’ Bachirou Fouad attempted a long range effort, but his attempt flew over the crossbar. Comoros made a change in the 62nd minute, introducing Ali Mmandi for Kombo Ahamadi as they looked to grab an equaliser. However, Uganda did most of the attacking in the late stages of the game and, ultimately, they recorded a historic 1-0 win on the day.
AFTER two weeks of rigorous training cum trails, the Nigeria Table Tennis Federation (NTTF) has picked 12 players for the final phase of camping for the 2016 ITTF World Junior Championships in Cape Town, South Africa. The two-week camping exercise was coordinated by Africa’s most decorated table tennis star, Segun Toriola at the National Training Centre of the Lagos National Stadium. 20 players invited to camp were accommodated and fed by the federation to allow them to concentrate during the training exercise conducted by the seven-time Olympian. According to Toriola, the players proved their mettle during the camp as most of them have improved their game with the aim of making the final list for the final phase of the camping. “I am indeed impressed with what I saw and this goes to show that talents abound in this country. What they just need is that support to push them up to the global stage. The 20 players in camp are capable of making the team to South Africa but we can only choose few that will wear the colours of Nigeria at the world championship. We have decided to pick 12 players from the 20 that will be invited to the final phase of training late next month where the final eight will be selected based on their performance as well. But with the camping, it has shown that we have the talents and we just need to keep them together and organise this kind of camping for them in order to acquaint them with the new techniques in the sport,”Toriola said. The 12 players that made the final phase of camping for the championship include, Azeez Solanke, Amadi Umeh, Tobi Falana, Rilwan Akanni, Emmanuel Augustine and Babafemi Babatunde. Tosin Oribamise and Ajoke Ojomu led the girls’ team which include Agnes Onoja, Halimot Ayinla, Rofiat Jimoh and Vivian Akpan.
SIDELINES
NO 16,582
MONDAY, 5 SEPTEMBER, 2016
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UR House of Reps will never be our House of Reps again. We all know why. That place where our parliamentarians, where our legislators, paddle budgets which they have legislated in favour of cannot be the same again. Until the present place where they legislate as “legislative thieves” is no more they will continue to breathe, continue to inhale, rheumy air – for the place is now very contaminated by rheumy air, if you allow me to say so. Of course, since the highly rhetorical Abdulmumin Jibrin whistle-blew what he whistle-blew about the shady business of our House of Budgetpadders, they have been padding out stories upon stories connected with what we can call the pack of lies relating to budget-padding by budget-padders Nigeria style. Phew! Before I package this piece further without pads, allow me to paddle into your yielding reading hearts some pertinent text messages from some followers of In and Out. Text one: I am taken aback that In and Out who is very cerebral, thoughtprovoking with in-depth knowledge of both local and international affairs still doesn’t know that PMB doesn’t fight his friends. Dogara has settled with him and that’s all. Let it be known to In and Out that PMB has no mindset to do Nigeria good but to enjoy, sit on expensive chairs, travel and shake hands with the high worldwide, with “pharasical” disposition. Text two: Dear Mr. Tony, first and foremost, I wish to heartily commend you on your numerous articles on national issues. I am a regular reader of Nigerian Tribune for the past 40 years. Most of your articles, if not all, had brought positive changes to the subjects concerned. I wish to respectfully request you to please focus your attention on National Housing Fund. I retired from Nigerian Army on August 15 with some of my mates. The Army Authority had computed our contributions to the fund and forwarded same to NHF for refund. Till date NHF has not refunded us the money. Please help us by writing about this.
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Mathematics is a rather difficult subject for some people. Or why would the INEC time table committee choose the date WASCE candidates will write the Mathematics examination to hold the Edo State governorship election? With the usual restrictions in movement during elections, candidates in the state will certainly have more than mathematical tension to contend with.
in&out with Tony Afejuku 08055213059
Rheum from budget-padders Text three: Where are the stipends for unemployed graduates, lunch for kid students, engagement of 500,000 teachers, naming of so called looters... Haba! Text four: The great writer of candour, your writing... is superb. Na man you be. Text five: Buhari and his cohorts have collectively given us a failed state. What else remains? Arguably nothing to be proud of. Everything is dead! These patriotic texts tell us one thing: the discharges from our House of Reps of budget-padders underline the impurity and immorality not only of the padders but also of Buharism that is seemingly condoning them. In fact, it is not by accident that what is in our parliament of padders is what is; but unless our president does what he must do to cleanse the damp and unhealthy place he will end up where he does not wish to end up. If he must succeed in keeping his promises to the people he must be ready to fight with those he must fight with in (or outside) our parliament of dischargers of rheum and rheum and rheum. His silence will not in any way make us forget what is happening in the moral-less place that we can liken to a world without justice. And who wants a justice-less world even
We must amplify our focus without exaggerating our perspective and objective. if it is like paradise? But a justice-less world can never ever be paradise or be like paradise. We must amplify our focus without exaggerating our perspective and objective. All the principal officers Mr. Jibrin has fingered and mentioned in the budget-padding scandal have ganged up against him. Rather than submit themselves to discipline they and their cohorts have collectively stuck together to call him to order by inventing different rhetoric to debase and mar him in readiness for their historic annihilation of him. They have recently, for instance, told us that the whistle-blower needs
psychiatric treatment for lie-peddling against principal officers of the rheumy house. They have not given us any figure to counter the figures of embezzlement Mr. Jibrin has mentioned as “evidence” against them. The whistle-blower’s rhetoric pads out sentiments of acceptable and believable eloquence when he tells us pointedly that he himself benefited significantly from the ailment of contaminated budget-padding. To buttress his submission, he gave us a figure of millions that entered his legislative budget-padding pocket and account. I am enjoying everything emanating from the lips of the budget-padders, but whatever happens in the end the status-quo must not remain: it must change. Our president must play a concrete role in this regard by way of concretizing his words and actions in this historic moment. Our president must establish a new history for our parliament, a new history of meaningful change devoid of rheum from budget-padders. Buharism must redeem its pledge and promises to the people. We are famished by the famishment of a change that is not a change.
3SC losing N5bn annually —Fayose By Tunde Ogunesan
THE Chief Executive Officer (CEO) Anis Security Guards and former security provider to Shooting Stars Sports Club (3SC), Ibadan, Mr Isaac Fayose has disclosed that the Oluyole Warriors is losing up to N5billion in terms of untapped revenue from base like merchandise which should accrue to the club every year. Mr Fayose made this known while speaking with journalists in Ibadan over the weekend that the club does not need the meagre government monthly allocation to survive. According to Fayose who once through his security outfit; ANIS signed a deal with the 3SC on ticket sales and security, which lasted one season noted that “a Turkish friend and 3SC fan in
Turkey had also signified interest in taking over the ownership of the club in the past but some people said it was ‘Ibadan property.’ “The club would only grow outside government control. Let me tell you, the foreign clubs are run by investors and supporters. In 2004, I proposed to buy 51 percent stake in 3SC for business purpose because I believe the club possess the quality to invest in, but I was told to drop the idea. “`We patronise Arsenal FC, Manchester United FC by buying their t-shirts, bags, jerseys and other souvenirs . I don’t think I have ever come across such thing in 3sc household. The club is supposed to be making nothing less than five billion naira annually from the entire merchandising aspect if effectively and
efficiently harnessed. The younger brother of Ekiti state governor, Governor Ayodele Fayose said while his contract with 3Sc was on and was handling ticket sales as well as the security management at the stadium, which lasted one year, he had 40 percent from the proceeds of the sales of the ticket at the gate during the time of the contract, while 3SC got the remaining 60 percent. Recalling how he brought private initiative to the operation, Fayose said, “I brought CCTV cameras, security dogs and other security gadgets to the stadium. We left after a year due to constant fight between Anis Guards and supporters, who never wanted to pay.” He blamed the poor financial base of the club on 3SC management, who
he said always bring into the stadium several people without payment. Fayose then called on the referees to always be fair in their officiating, and also urged the League Management Committee (LMC) to be more committed to moving Nigerian league to greater heights.
NPFL RESULTS Heartland Kano Pillars Plateau Utd Rangers Warri Wolves Akwa Utd Lobi Stars
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Ikorodu Utd Sunshine 3SC Rivers Utd Nasarawa Utd MFM FC Enyimba
Printed and Published by the African Newspapers of Nigeria PLC, Imalefalafia Street, Oke-Ado, Ibadan. E mail: editornigeriantribune@yahoo.com Website: www.tribuneonlineng.com MANAGING DIRECTOR / EDITOR-IN-CHIEF: EDWARD DICKSON. EDITOR: DEBO ABDULAI. All Correspondence to P.O. Box 78, Ibadan. ISSN 2712. ABC Member of the Audit Bureau of Circulation. 5/9/2016.
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