10th October, 2016

NIGERIA’S MOST INFORMATIVE NEWSPAPER NO 16,607 MONDAY, 10 OCTOBER, 2016 www.tribuneonlineng.com

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Epe kidnap: Family Renew your health, strength with mushrooms negotiates N1m for each hostage —P37 TODAY'S SPECIAL

By Gbenga Olumide

THE mushroom fungus is in our yards and gardens all of the time. It lives from year to year as a collection of threads, called mycorrhizae, in the mulch and soil. When conditions permit, the fungus uses accumulated nutrients to grow a reproductive structure known as a mushroom.

According to a researcher, Timothy J Malinich, Extension

Educator, Mushrooms are a ‘golden plant’. They are very popular at restaurants, farmers’ markets and supermarkets. One of the species of mushrooms which is enjoying a high level of demand is oyster mushroom. It is a type of exotic mushroom which is fairly easy to grow, taking about six weeks from start to harvest.

•Ambode orders demolition of illegal waterfront structures

8 more judges to be arrested Continues pg4

• 7 in DSS custody, more Nigerians react —P2 •DSS, NJC in talks over detained judges •Banking sector under DSS radar •Corruption, not judiciary, under attack —Presidency

Ogun LG/ LCDA poll: APC wins all 57 chairmanship seats •PDP calls for cancellation —P33

How Ondo APC guber primary was won and lost —P33

From left, Managing Director of Levant Construction Limited, Mr Elie Tannous; Special Adviser to the Governor on Local Government and Chieftaincy Affairs, Abubakar Ohiere; Kogi State governor, Alhaji Yahaya Bello and the state Commissioner for Works, Abdulmumini Sadiq, at the kick-off of the 18-kilometre road construction project in Okene, on Saturday.

PHOTO: OLAYINKA OLADOYINBO.

$1trn taxes illegally taken Suspects hide out of Nigeria to be —P11 human head repatriated —Adeosun in bread —P36

Kaduna orders arrest, prosecution of Shi'ite spokesman —P30

2 news

Monday, 10 October, 2016

Arrest, detention of judges: PDP, Wike, Ajulo, Ozekhome, SERAP kick From Jacob Segun Olatunji, Bola Badmus, Dapo Falade, Ebenezer Adurokiya, Sunday Ejike, Kolawole Daniel and Ayomide Owonibi Odekanyin

M

ORE reactions have continued to trail the forceful arrest of justices of the Supreme Court and judges of the Federal High Court across the country by the Department of State Security (DSS).

This came as the SocioEconomic Rights and Accountability Project (SERAP) threatened legal action, both locally and internationally, just as it wrote President Muhammadu Buhari, demanding the immediate and unconditional release of the judges.

The affected justices of the Supreme Court were Sylvanus Ngwuta and Inyang Okoro while judges of the Federal High Court affected were Muazu Pindiga, Adeniyi Ademola, Abdullahi Liman and Nnamdi Dimgba.

The Peoples Democratic Party (PDP), Rivers State governor, Mr Nyesom Wike; human rights lawyer, Mike Ozekhome; a legal practitioner, Mr Kayode Ajulo and others, on Sunday, condemned the act.

The PDP in a statement made available to newsmen in Abuja by its national publicity secretary, Prince Dayo Adeyeye, said by the attack on the judiciary, President the Federal Government “has shown that it has no desire to respect the pillars of our democracy.”

According to the party, “never in the history of the country had the Federal Government attacked the judiciary in such a manner.”

It also lamented that the government had disregarded the orders of the ECOWAS Court and every other courts in the land on the case involving Sambo Dasuki, the former National Security Adviser (NSA).

The party said “the proper path to follow to discipline erring judges will be to forward a petition containing any wrongdoing to the NJC along with any evidence in support thereof.”

The PDP caucus in the House of Representatives also condemned the invasion of residences and arrest of judges on allegations of corruption.

In a statement by its leader, Honourable Leo Ogor, who is also the minority leader of the House, the caucus said the style of the invasion was not only an affront on the judiciary but also a threat to democracy.

It called on Nigerians and the international community to rise in defence of democracy and the rule of law in the country.

Wike, reacting on the development, accused the DSS

of resorting to deliberate misinformation and concocted stories to justify its unconstitutional assault on the judiciary.

In a reaction to a statement

by DSS that he led some thugs to thwart the attempt to effect the arrest of one of the judges under investigation, in Port Harcourt, said DSS was concocting figures to deceive the people.

In a statement issued by his media aide, Simeon Nwakaudu, the governor said “the weak blackmail of DSS will not lessen the crime they have committed against the Nigerian State by assaulting the judiciary.”

He insisted that DSS lacked the constitutional

powers to be involved in the legal process to discipline a serving judicial official, pointing out that there was a legal process that must be followed.

The DSS had, in a statement by Abdullahi Garba, said “the judge, with the active support of the governor, craftily moved the money to an unknown location which the Service is currently making effort to unravel.”

However, Wike, whose name was not mentioned in the statement, said “their blackmail stories will not move me. They will concoct all kinds of stories to justify this undemocratic illegality perpetrated against the judiciary. It

is really unfortunate that DSS would concoct a false defence that $2 million (that is N900 million), was found in the house of the judge. It is unfortunate that DSS is coming up with flimsy excuses.”

He also debunked the claim by DSS that he was at the scene of the incident with thugs, noting that he was with senior Rivers indigenes at the time of stopping the DSS in its unconstitutional act.

Ozekhome, in his reaction, said the new onslaught against the judiciary signalled great danger to the nation’s democracy, freedom, liberties and human rights, independence of the

judiciary and the doctrine of separation of powers.

In a statement made available to newsmen in Abuja, Ozekhome wondered why this was happening in a country operating a constitutional democracy.

Ajulo, a legal practitioner, condemned the act, calling for caution in order not to set a bad precedent with “the alleged extant despotic operations by the DSS.” A former national secretary of Labour Party (LP), in a statement made available to the Nigerian Tribune, insisted that in cleansing the judiciary of corrupt judges, proper procedures must be followed.

Ajulo said he had all along

8 more judges to be arrested

DSS, NJC in talks over detained judges Chris Agbambu -Abuja

FOLLOWING the arrest and detention of seven judges by the Directorate of Security Services (DSS), it has been gathered that eight more judges are currently on the radar of the Service and they will be arrested this week.

Those already in custody are Justice Inyang Okoro and Justice Sylvester Ngwuta, both of the Supreme Court; Justice Mohammed Tsamiya of Appeal Court, Ilorin; chief judge of Enugu High Court I, A. Umezulike; Justice Adeniyi Ademola of the Federal High Court; Justice Kabir Auta of Kano High Court and Justice Muazu Pindigir of Gombe High Court.

An informed security source, who told the Nigerian Tribune of the planned arrest of eight others under investigation, did not, however, dsclose their names.

The source revealed that the DSS received petitions on a daily basis on the judges and how they allegedly collected money from both parties in a case and even their conduct in the court.

According to the source, “we received these complains and we became worried, some of these things were becoming disturbing, people bringing facts and figures and we need to verify that the facts were all correct.”

The source said the analysis revealed that the political rot ended up in the judiciary in the last three to four years, adding that “Nigeria lost a lot of cases and billions of dollars because of corruption in the judiciary.”

It maintained that it would be interesting if the Nigerian Bar Association (NBA) takes the SSS to court, noting that “what the NBA does not realise is that there is no

agency as powerful as the SSS, because we can involve ourselves in any issue and get away with it.”

It added that “we have been receiving petitions about source of these funding of these judges. We have informants who have been giving us information about some of them. Some of them have become bigger than Nigeria itself, as they bend the law in order to collect gratification.”

The SSS source cited an instance where a judge arrived at a supermarket as if he was there for shopping but entered to collect dollars from a go-between in a case he was adjudicating into, not knowing that officers of the Service were trailing him.

The source noted that judges were covered with immunity only within the court premises, adding that once they were outside the court, “they are equal to any other Nigerian.”

The source added that if the judges in detention had answered questions asked them after making their statements on Saturday, they would have been allowed to go home.

“Definitely, today or tomorrow, they will go home.

Their families have been visiting them, we want to take the cases to court quickly,” the source added.

Asked if the DSS can fight the battle, the source said “nobody dares a monster if he is not prepared. We are prepared.”

On whether the DSS is not creating tension in the country, the source said “anyone who tries to provoke any problem will have to pay for it, nobody is above the law, even lawyers who were used as conduit to pass the bribes will soon be arrested.”

When asked by a Presidency source on whether the cases of the judges would be handed over to the police

for investigation, the source said “the cases will be prosecuted by the SSS.” The source said very soon, Nigerians would hear about banks and how they are tripping foreign exchange.

It said the banking sector is now under the radar of the DSS, adding that the Service would soon descend of erring banks.

“We have virtually torn the banks to shreds, at least, every week, four executives report to us here,” the source said.

Meanwhile, the leadership of both the DSS and the National Judicial Council (NJC), held a closed door meeting on Sunday afternoon through evening, over the fate of detained senior judicial officers.

Outgoing secretary of the council, Halilu Danladi, was at the head of the judiciary team that attended the meeting held at the DSS headquarters, Abuja.

The outgoing Chief Justice of Nigeria (CJN), Justice Mohammed Mahmud, was reportedly fully debriefed by the council delegation when the meeting ended around 7.00 p.m.

Checks by Nigerian Tribune did not confirm the rumoured release of Justice Okoro to the judiciary delegation, but it was learnt that the cases the security agency claimed to have built against the affected judicial officers may be transferred to the council for an appropriate action.

The council had scheduled an emergency meeting for tomorrow to recommend the most senior justice of the apex court, Justice Walter Nkanu Onnoghen to President Muhammadu Buhari as the next CJN. The sole agenda of the meeting had been fixed before the arrest of the serving judges.

Nigerian Tribune was told by a system source last night

that the ongoing probe of some judges for giving conflicting judgments in cases emanating from the Peoples Democratic Party (PDP) leadership crisis and Abia governorship tussle, may come up for strong consideration in the light of the development.

The source added that it was almost certain that the arrest of the Supreme Court justices and the claim

by DSS of recovering huge money from them would dominate the emergency meeting.

Corruption, not judiciary, under attack —Presidency

Meanwhile, the Presidency has said President Muhmmadu Buhari reserves his highest respect for the institution of the judiciary as the third arm of government.

Reacting to media reports on the arrest of judges by the operatives of the DSS, in a statement on Sunday night, the Senior Special Assistant to the President on Media and Publicity, Garba Shehu, said President Buhari respected the rule of law as a committed democrat.

“President Buhari remains a committed democrat, in words and in his actions, and will not take any action in violation of the constitution.

“The recent surgical operation against some judicial officers is specifically targeted at corruption and not at the judiciary as an institution.

“The Presidency has received assurances from the DSS that all due processes of the law, including the possession of search and arrest warrants, were obtained before the searches.

“To suggest that the government is acting outside the law in a dictatorial manner is to breach the interest of the state,” the statement said.

been in the vanguard of calling for an overhaul of the country’s judiciary through separate letters he addressed to President Buhari and the Attorney-General of the Federation, Abubakar Malami, on same.

While expressing the belief that there was need for the Federal Government to follow proper procedures in cleansing the judiciary of corrupt judges, Ajulo, however, said it was pertinent to state that no arm of government had reviewed itself than the judiciary and should, therefore, be encouraged and not through the modus operanda employed by DSS that could bring the bench to disrepute or ridicule.

Meanwhile, in what it described as chilling and a mockery of the judiciary, SERAP has written President Buhari, demanding the immediate and unconditional release of the judges.

SERAP also stated that it had written the United Nations on the case, while also threatening to take legal action, both locally and internationally, against the president, should the arrested judges not be immediately freed.

Executive Director of SERAP, Adetokunbo Mumuni, in a statement, stated that while it fully supported Buhari’s anti-corruption war, it viewed the clapdown on judges as a chilling blow on the independence of the judiciary and a dangerous precedent that should not be allowed to stand.

Mumuni added that if the development was allowed to stand or continue, it would make judges susceptible to pressure from the executive and spell the final collapse of judiciary’s independence.

Apart from asking the president to order the immediate release of the judges, SERAP also demanded a probe of the DSS over the development and punishment for everyone found culpable.

“Judges, like other constitutional functionaries, must face the law if they depart from or deceive the law, such as when they are suspected of engaging in corruption. But what the DSS has done is a blow to the independence of judiciary and a dangerous precedent that should not be allowed to stand.

“The value of the principle of judicial independence is that it protects judges from arbitrary sanctions by the government. The way this country dispenses justice and treats its judges will show the moral and legal character to which it can pretend,” the statement read.

SERAP noted that in the world over, the body that sanctions erring judges is usually independent of the government.

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Monday, 10 October, 2016

Renew your health, strength with mushrooms Continued from pg

Apart from bringing in additional income, below are some health benefits of mushrooms: Cholesterol levels: Mushrooms bring relief from high cholesterol levels. This is so because mushrooms provide you with lean proteins since they have no cholesterol or fat and are very low in carbohydrates. The fiber and certain enzymes in mushrooms also help lower cholesterol levels.

Moreover, the high lean protein content found in them helps burn cholesterol when they are digested. Balancing levels of cholesterol between LDL cholesterol (“bad cholesterol”) and HDL (“good cholesterol”) is also essential in the prevention of various cardiovascular diseases like atherosclerosis, heart attack and stroke.

Anemia: Anemic patients have low

levels of iron in their blood, resulting in fatigue, headaches, reduced neural function, and digestive issues. Mushrooms are good source of iron, and over 90 per cent of the nutritive iron value can be absorbed by the body. This promotes the formation of red blood cells and thus keeps people healthy and functioning at their full potential.

Breast and Prostate Cancer: Mushrooms are very effective in preventing breast and prostate cancer due to the significant presence of Beta-Glucans and conjugated Linoleic Acid, which both have anti-carcinogenic effects. Linoleic acid is particularly helpful in suppressing the harmful effects of excess estrogen.

Increase in estrogen is one of the prime causes of breast cancer in women after menopause. The Beta-Glucans, on the other hand, inhibit the growth of cancer-

ous cells in cases of prostate cancer. Numerous studies have shown the antitumor properties of mushrooms when applied medically.

Weight loss: Did you know that a completely lean protein diet is ideal for losing fat and building muscle mass? Most fats are burnt to digest proteins found in our food, more so when the protein is accompanied by a very low carbohydrate count, no fat or cholesterol, and a good amount of fiber. This is exactly the combination that mushrooms offer to help in losing weight!

They actually rank higher than most fruits and vegetables, and researchers say that mushrooms are one of the rare foods that people can eat as often as possible, with no side effects.

A few words of caution: As good as mushrooms are, they can be very dangerous. There are over 10,000 species of

mushrooms, but most of them are inedible, highly poisonous, and look strinkngly similar to their edible counterparts. Don’t ever try picking mushrooms for consumption from the woods unless you have been trained to identify them very well.

Mushrooms have the unique ability to absorb the material that they grow on, either good or bad. This quality is what gives mushrooms so much of their beneficial power, but also their dangerous aspects. A single poisonous mushroom among others in a dish can threaten a large amount of people’s health, resulting in comas, severe poison symptoms, nausea, vomiting, convulsions, cramps, and insanity. Many species can even be fatal if ingested. Always avoid eating discoloured ones or those which are different in colour than the typically accepted colour of their species.

How I converted squash court into Aso Rock church —Obasanjo Sanya Adejokun -Abuja

F

ormer president, Chief Olusegun Obasanjo, on Sunday, revealed for the first time how and why he converted the squash court in Aso Rock Villa into a church.

Today, the church, popularly known as Villa Chapel, has become a Mecca of sorts to senior government officials and others who lobby to worship there as a ploy to have easy access to either the president or vice-president.

In fact, some presidential aides make quick cash from desperate lobbyists who sometimes pay millions as bribes just to have access to either of the first two citizens of the country depending on who is leading at the time.

Speaking during the first service at First Baptist Church, Garki, Abuja, Obasanjo said when he arrived Abuja as president in 1999, he wanted to be a regular member of the church, which he actually started doing.

Unfortunately, he said each time he attended service, there was too much security checks, which caused so much disruption and inconvenience for other worshipers.

“I want to tell you what this church had done unknowingly for the nation.

When I came to Abuja, I thought that why should I establish a church in the seat of government?

“I should rather worship in a place of worship just like everybody else. And my intention was to come here every Sunday.

“And I did it for a while, including bringing Presi-

dent Bill Clinton, to worship here with you. But, then, I found that every Sunday, when I was coming, the security will come with me and I believe everybody was put under pressure and I felt that why should my worship be a source of discomfort to other people?

“I did not become president to inconvenient other people. I became president to make life more comfortable for people,” Obasanjo explained.

As a result, the former president, who commended the Senior Pastor of the Church, Reverend (Dr) Israel Adelani Akanji, who is

also chairman of the Christian Association of Nigeria (CAN), North Central Zone, for preaching good sermon, said he then decided to begin to worship at the Villa.

“So I began to use the squash court. During the week, I will play squash there and on Sunday, I

turned it into place of worship.

“Then by deciding to worship there, God did something wonderful. God made it possible to actually build a permanent place of worship within the highest seat of government of Nigeria.

“And that was done by

this church indirectly. I thank you as a Church, I thank you as a member if Baptist family.”

“As for me, this worship is nostalgic. I have listened to, and watched the Senior Pastor. I have also noticed that the older they are, the better the pastors they become.

Monday, October 10, 2016 due to the fire incident that affected the library and some departments in the Faculty of Social Sciences, adding that the decision was taken pending an emergency meeting scheduled for today.

According to a state-

ment signed by the University Registrar, Mr Monday Danjem, the authorities of the university, urged all members of the academic community to remain calm and go about their normal businesses as the situation had been brought under control.

Fire guts UNIJOS library, departments Isaac Shobayo -Jos

The University of Jos (UNIJOS) permanent site was thrown into confusion on Saturday, following a fire outbreak that gutted the university’s library and other departments within the complex and thrown the entire main campus of the institution into confusion.

Nigerian Tribune learnt the fire incident, which lasted for four hours, started at about 6:45p.m. and spread to other departments within the complex, thereby destroying many valuables, including journals and many other research materials.

Though the cause of the incident could not be ascertained as of the time of

filing this report, an eyewitness said the cause of the inferno might be attributed to power surge, adding that the fire started shortly after Jos Electricity Distribution restored light to the complex.

The Vice Chancellor of the institution , Professor Sebastian Maiako, told newsmen while inspecting the burnt building on Sunday, that the fire started about 6.30 p.m on Saturday and burnt many books , unmarked examination scripts and other materials.

“On the fourth floor, which was completely burnt down, we have the Departments of Psychology, Political Science, Economics and office of the Dean of

Management Sciences. The building, which was officially open in 1997, also had materials from the Faculties of Education , Arts and the Department of Geology.”

Meanwhile, authorities of the university has postponed all the first semester examination slated for

FG still dialoguing with Niger Delta —Kachikwu The Minister of State for Petroleum, Dr Ibe Kachikwu, has said that it is not true that the Federal Government is working against the people of the Niger Delta region, News Agency of Nigeria (NAN) reports.

He also said that the dialogue between the Federal Government and the people

of the region to find lasting solutions to the lingering violence and pipeline vandalism in the region was ongoing.

The minister made the clarification on Saturday in an interview at the end of the 2016 Convocation Ceremony of the Petroleum Training Institute (PTI), Ef-

Bello kicks off N3.8bn road projects Yinka Oladoyinbo -Lokoja

The Kogi State governor, Alhaji Yahaya Bello, on Saturday, kicked off the construction of N3.819 billion road network in the Central senatorial district of the state, saying the move signalled renewed infrastructural development of the state.

The road networks, which are 18. 3 kilometres long, are Agassa-Ahache-Upogoro Road, OgaminanaEbogogo-Eika Road and Obehira-Ihima-Obangede Road in Okene, Adavi and Okehi Local Government Areas of the state.

Speaking at the event, the governor lamented the poor state of infrastructure, particularly roads across the three senatorial districts of the state.

He, however, said the ‘New Direction’ blueprint of his administration had taken note of the infrastructural decay in health, education and road projects in the state, adding that frantic efforts would be made to rehabilitate dilapidated infrastructure in the state.

Bello explained that Lokoja, the state capital, and other major towns in the state would be given facelift

to the standard of 21st century cities.

He particularly expressed the readiness of his administration to complete the ongoing Lokoja township road with modern facilities to make the state capital be able to compete with others across the country.

The governor added that apart from urban roads, his administration would also rehabilitate rural roads and make them motorable to further aid economic development of the state.

According to him, since efforts were on to diversify the nation’s economy, with agri-

culture considered to be the alternative to oil, deliberate moves would be made to ensure that farm produces got to market through good road networks.

The governor, who also inaugurated the Danjuma Atta Eye Centre, at the General Hospital, Okene, said adequate investments would be made to improve the health of the people of the state.

Bello, who lauded the donor of the eye centre, promised that government would make adequate use of it and ensure posting of personnel for the benefit of the people.

furun, Delta.

He said the president was very supportive of the project of ensuring that government reached an agreement with the people through dialogue by ensuring that the old model which failed was restructured.

“The dialogue with the militants has not collapsed, I have laid that process and the president is very supporting of that process.

“But what the president does not want to do is to put in place same model that failed after four months and militants are back to the creeks.

“We are looking at a long term model and I have presented to Mr President a road-map and it encompasses short, long term solutions, engagement and inclusiveness of the communities.

“We absolutely believe that the Niger Delta is key to the country, they have contributed so much in very many ways but the society has failed them.”

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Access Bank Plc RC125384

RETURNS ON SOURCES AND UTILIZATIONOF FUNDS FOR THE WEEK ENDED OCTOBER 7TH, 2016

BANK: ACCESS BANK PLC DATE OF RETURNS: 10/10/16 SOURCES OF FUNDS

UTILIZATION OF FUNDS

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SOURCE

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EXCHANGE RATE

314.00 335.50 314.00 335.78 314.00 335.78 314.00 335.76 314.00 314.00 314.00 314.00 314.00 314.50 335.50 314.00 314.00 335.50 314.00 305.50 314.00 315.00 314.00 314.00 314.00 314.00 314.00 335.78 314.00 305.00 314.00 314.00 335.51 314.00 314.00 304.20 314.00 314.00 350.00 335.78 314.00 315.00 349.12 335.78 314.00 315.00 314.00 350.00 314.00 314.00 314.00 314.00 314.00 314.50 314.00 314.00 314.00 314.00 314.00 345.43 314.00 335.50 314.00 314.00 314.00 314.00 314.00 320.31 305.00 350.00 314.00 314.50 314.00 314.00 314.00 335.54 314.00 314.00 350.00 314.00 314.00 335.50 314.00 314.00 314.00 304.50 314.00 314.00 314.00 315.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 314.00 335.78 314.00 314.00 325.00 314.00 314.00 314.00 314.00 314.00 335.50 335.50 310.24 314.00

AMOUNT

S/N CUSTOMER

ITEM OF IMPORT

DATE OF FUND PURCHASE

1,420.00 51,216.18 128.94 51,244.98 764.67 100,000.00 4,273.09 9,977.99 219.88 1,536.12 245.00 500.00 44.44 260,515.97 24,160.44 877.12 1,733.26 42,160.00 320.00 100,000.00 1,003.52 8,855.47 1,022.19 236.39 2,835.00 1,060.00 290.00 310,000.00 311.82 100,000.00 4,840.64 232.88 13,879.26 46.11 205.00 10,466,000.00 436.26 247.37 250,000.00 300,000.00 33.44 11,596.09 5,674.97 188,256.60 19.71 6,839.17 81.75 63,297.30 308.92 500.00 212.08 167.52 395.04 32.00 89.19 237.30 1,578.54 120.36 518.05 1,376.05 41.60 7,630.25 1,016.91 673.27 1,837.09 249,999.99 100.00 1,367.32 126,083.94 300,000.00 250.00 49,999,968.00 296.84 1,609.88 139.43 23,004.51 29,350.00 145.00 19,703.73 86.49 108.83 53,771.56 631.00 245.25 2,747.53 35,060,500.00 5,063.93 567.53 265.47 50,000.00 573.67 5,971.00 21,466.39 2,933.00 1,837.09 9,695.96 64.32 1,225.00 151.01 250.00 143,511.39 4.02 2,102.47 5,384,312.90 2,076.83 878.44 71.69 90.00 88.72 2,951.21 0.36 3,790.08 100.00

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150

LOAN REPAYMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT TECHNICAL FEES CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT SCHOOL FEES PTA PTA CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT SCHOOL FEES CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT SCHOOL FEES LOAN REPAYMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA NESCAFE CLASSIC CHAIN 12(120x2g) N1 x4 CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT SCHOOL FEES CREDIT CARD SETTLEMENT PTA CREDIT CARD SETTLEMENT SCHOOL FEES CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PREMIUM MOTOR SPIRIT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT INTERBANK CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT RAW MATERIAL FOR TEXTILE CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT LOAN REPAYMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT SCHOOL FEES CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT LOAN REPAYMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT DEBIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA

5-Oct-16 6-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 4-Oct-16 5-Oct-16 6-Oct-16 6-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 7-Oct-16 6-Oct-16 5-Oct-16 6-Oct-16 6-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 4-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 7-Oct-16 6-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 7-Oct-16 6-Oct-16 7-Oct-16 4-Oct-16 6-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 7-Oct-16 5-Oct-16 6-Oct-16 5-Oct-16 6-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 6-Oct-16 7-Oct-16 7-Oct-16 7-Oct-16 6-Oct-16 5-Oct-16 6-Oct-16 5-Oct-16 7-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 6-Oct-16 6-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 4-Oct-16 6-Oct-16 6-Oct-16 6-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 7-Oct-16 7-Oct-16 5-Oct-16 7-Oct-16 7-Oct-16 5-Oct-16 6-Oct-16 6-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 6-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 7-Oct-16 6-Oct-16 6-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 7-Oct-16 6-Oct-16 4-Oct-16 5-Oct-16 7-Oct-16 6-Oct-16 7-Oct-16 5-Oct-16 6-Oct-16 7-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 5-Oct-16 6-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16

AIRTEL NETWORKS LIMITED OLUWASEUN OLADIPUPO ANDU IYALLA DEINMA IBIFURO IFEANACHO TOBECHUKWU OBA LARRY ETTAH CHINEDU ROLAND UMEOZULU OLAWUNMI OLUWAFUNMILOLA AIRTEL NETWORKS LIMITED EMMANUEL INATIMI OMBU OLDIGS CONSTRUCTION LTD BABASOJI ADEDAMOLA MAURICE DIYA ISOLA OLALEKAN AKEEM BASHIR UMAR TOBECHUKWU NWOSU THELMA ADAEZE UDEMGBA WRIGHT AYODEJI OLANREWAJU IYABI DUATE PATMORE EBINYUN SUNDAY YOUNG DEDE OLATUNJI MODUPE FELICIA ABE FELICIA ABE SANDEEP PARASRAMKA KASHIM B. SHETTIMA PAUL ASIME AMINADOKIARI DR. CLETUS & MRS IFEYINWA IBETO FEMI RAJI TIYEYOSI OBASEYIFUNMI MOYIN KUFORIJI GIDEON CHIGOZIRI WODI GILBRATAR/IBUKUN OKEOWO ERINFOLAMI ISIAKA AKEH MICHAEL UZOMA ONUKWUBIRI ONYINYE IHUAKU EDUVIE OMAMADAGA OLUKAYODE SAMSON OLUBUKAOLA MARGARET IQUO ORONSAYE AIRTEL NETWORKS LIMITED SEYI ONADEKO PHILLIPS OLAIYA EKE ANTHONY CHIJIOKE AKEEM OLAMIDE SHADARE OHIOZUA OHIWEREI REV JACOB OGEDENGBE EZEH JENNIFER REHOBOTH CHOPS & CONF. HANDYMASTA SERVICES LTD NESTLE NIGERIA PLC CHRISTOPHER OGUTA AFRICAN STEEL MILLS NIG LTD SARAH O ALADE KASHIM B. SHETTIMA AYOTUNDE OLADIPUPO ANJORIN DAVIES OKAREVU MR & MRS T FAFUNWA ASABE ASMAU AHMED ENE-ITA NKESE ANNE OVUNDAH AKAROLO OSAYI ALILE ORUENE OZURUOKE AJIE ASHERS DELICACIES LIMITED ANNE NKEONYEASOA AZUH ELSIE N THOMPSON ZOUERA YOUSSOUFOU ADEDAYO PETER AROGUNDADE SAMUEL BELUOLISA OLUBUSOLA ELIZABETH AYOFADUMIL BARONG OLADAYO TAIWO ODUNAYO AJAYI NEE FAKOREDE ONE CREDIT LIMITED FESTUS OLATEJU OLAJIDE ADE DIGITAL MEDIAL LIMITED IBRAHIM SANI OMIEWORIO NKECHI A. OLAWALE OLUTIMI IBRAHIM ABIODUN OLALEYE MERCY ALAKE OLUFOWOSE LOOKMAN MARTINS AYODELE AGBEDE NNAMDI K. OKERE DAYO ELIZABETTH BOLAJI AGADA BONIFACE APOCHI BANYE OLUCHUKWU MICHAEL IHUOMA LAETICIA INWERE EHIZODE EDDIE PAUL ASIEMO ANTHONY OKAFOR ALOBA OLUWASEYI ABIOLA EKUNDAYO O ATINUKE OLASUNMBO TEMITOPE OLATUNJI REGINA AINA MATTHEW IDANG ADEDEJI OLUSEYE BANJI ADEDOTUN OLAWEPO ADEGBITE KASHIM B. SHETTIMA DE LEGEND HOTELS & SUITES LIMITED MICHAEL O. BAKARE TUNDE BABS SULE SEGUN OGBONNEWO OTABAB SHERIF BABATUNDE OTAPO BANKOLE ADEMOLA BANJO FIKA HANNATU ADAMU IFEOLUWA OGBONNEWO AFOLABI AGNES LUBRIK CONSTR CO. LTD OGUNBIYI BUSOLA TOLULOPE ENYO TRADING COMPANY LTD MICHAEL OKOLI PHILLIPS OLAIYA INTERBANK OLABISI BANJO EID MARWAN AVA CHEMICALS LIMITED MUNISHA GUPTA KUMAR RAJ GUPIA NABIL AHMED SALEH AIRTEL NETWORKS LIMITED BOLARINWA LAMIDI AFOLABI AYODEJI JOSEPHINE NNEMARABIA ESSIEN ONYEKACHI UGWA OGOMA CHUKA OKAFOR JOHN OLATUNJI MAYAKI EYO AYOBAMI OLUWASEUN OLUKEMI & KOLADE YAHAYA ANNE DUROSARO SABO NAKUDU MOHAMMED CHIBUEZE BASIL NJIE FATOU NGWU OSITA EKIKHALO JUDITH DUDLEY-EHIGIE NAYAK ASHOK KUMAR GRACE CHIBUZOR WOKE ONE CREDIT LIMITED KUMAR RAJ GUPIA AIRTEL NETWORKS LIMITED SALIM HANEIN MADHUKAR KHETAN YUGUDA AISHATU ISA MIKE ELECHI OMONI AFOLABI OMOLADE PAULETTE OLAGBAIYE REGINA AITUAJE ODUGBEMI FELIX ONYEKWERE OBERE ACCESS BANK PLC OLUBUKOLA SAMUEL NWANEDO PRICELEY UZODINMA SOYINKA SONUGA TITILOLA OLOGE ELAYE OTROFANOWEI AIYEDOGBON DAVID SHOLA NGOCHINDO FESTUS GOTEH MR.FATAI ABIOLA MORUF

EXCHANGE RATE 314.60 361.00 345.85 361.00 345.85 361.00 345.85 314.60 345.85 361.00 345.85 345.85 361.00 361.00 361.00 345.85 345.85 361.00 361.00 361.00 345.85 361.00 361.00 361.00 345.85 345.85 361.00 345.85 345.85 345.85 345.85 345.85 345.85 361.00 314.60 361.00 361.00 345.85 361.00 345.85 361.00 361.00 361.00 345.85 314.65 361.00 345.85 345.85 345.85 345.85 361.00 361.00 345.85 361.00 345.85 361.00 345.85 345.85 345.85 361.00 361.00 361.00 361.00 361.00 361.00 345.85 361.00 345.85 361.00 361.00 345.85 345.85 345.85 345.85 345.85 345.85 361.00 361.00 345.85 345.85 361.00 345.85 345.85 345.85 345.85 345.85 345.85 361.00 361.00 345.85 345.85 361.00 345.85 361.00 361.00 345.85 345.85 345.85 345.85 345.85 361.00 361.00 345.85 304.75 361.00 345.85 315.00 361.00 361.00 305.50 345.85 361.00 361.00 314.60 345.85 361.00 361.00 361.00 361.00 345.85 345.85 361.00 345.85 345.85 361.00 361.00 361.00 345.85 345.85 361.00 361.00 361.00 314.60 361.00 361.00 361.00 345.85 345.85 361.00 345.85 345.85 361.00 345.85 345.85 361.00 345.85 361.00 345.85 361.00 345.85

AMOUNT

2,305,268.08 74.15 2.42 5,464.86 1,200.00 33,363.12 612.45 500,443.82 298.09 4,856.92 4,000.00 190.76 34.30 124.74 480.00 2,099.26 2,249.35 5,169.00 4,000.00 3,850.00 532.16 1,165.35 15.00 1,669.58 974.83 1,200.00 11.25 1,200.00 4,400.00 950.00 63.17 219.57 4,184.42 5,000.00 12,082,469.52 1,600.00 1,571.45 155.71 2,010.00 57.46 2,075.50 1,661.79 23,600.00 4,000.00 65,143.91 37.50 1,200.00 2,133.06 1,008.06 3,370.44 274.78 476.49 950.00 30.00 981.34 198.77 0.03 4,000.00 37.93 17.94 473.03 1,500.00 51.62 4,000.00 474.81 899.31 15,000.00 368.18 1,146.32 7.69 21.00 258.01 1,050.48 1,481.99 4,000.00 1,687.88 0.54 4,000.00 58.63 651.16 990.00 4,500.00 50.00 4,000.00 100.00 2,500.00 2,000.00 3,003.19 341.96 63.31 817.11 1,008.06 12,723.00 3,200.00 1,300.00 2,000.00 4,533.90 2,100.00 1,146.84 1,500.00 4,000.00 4,858.05 58.12 7,750,050.00 3,514.11 1,571.45 26,225.02 9,000.00 2,487.65 15,840.80 2,100.00 1,000.00 320.00 3,622,787.88 61.34 4,000.00 4,000.00 3,450.00 66.36 950.00 1,011.53 6,000.00 3,500.00 182.29 3,267.66 1.92 880.39 4,000.00 196.75 41.63 12,000.00 8,000.00 1,170,668.61 975.76 9,739.25 378.33 35.12 335.33 1,500.00 650.00 222.14 336,145.31 6,479.18 51.11 53.00 1,771.67 148.02 10,000.00 0.16 4,000.00

7

Monday, 10 October, 2016

Nigerian Tribune

Access Bank Plc RC125384

RETURNS ON SOURCES AND UTILIZATIONOF FUNDS FOR THE WEEK ENDED OCTOBER 7TH, 2016

BANK: ACCESS BANK PLC DATE OF RETURNS: 10/10/16 UTILIZATION OF FUNDS

UTILIZATION OF FUNDS

SN

CUSTOMER

ITEM OF IMPORT

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CHIKAODI M JOHNSON ANDREA GEDAY UZO OBI EFFIONG ETUK UDOH OGUNREMI YESIDE IFEOLUWA SARAH O ALADE OSISIOGU CHRISTOPHER ADEDEJI FOLUSO JOKOTOLA ADO BALA TALLE OLUKAYODE OLADAPO AKANDE ABIOLA JULIANA NASIRU OZOVEHE BELLO ONI LEWANA ERHIMU INYANG IQUO NAOMI ASUQUO IZI ADENIYI-LADIPO PAOLO ALTOBEL MADU TOCHUKWU CHRISTIAN ADENIJI ADEJINLE OLAPADE AKINBIYI OLOKO AJORITSEDERE JOSEPHINE AWOSIKA ALBERT BASSEY AKPAN NWOGU JACOB AMEBEOBARI OJEIFO TITILAYO RAMATU TOLULOPE OLUWAKEMI ADESOMOJU ADENIJI ADEJINLE OLAPADE ABODERIN BOLAJI ONI ALABA ELIZABETH DUROJAIYE MOBOLAJI QUEENESTHER IME UTIN ALBERT AKPAN NESTLE NIGERIA PLC EMMANUEL CHIEJINA YUSUF GUNDOGDU ADETOUN KARUNWI INTEGRAL SPONSORSHIP&EXPERIMENTAL M FMCG DISTRIBUTIONS LIMITED HEMANTKUMAR KASTURCH SHAH OLAWUNMI O. AKINNIRANYE EBEN-SPIFF TEKENATE ANDREW OJOGBO OLUWABAMISE FAKOREDE ADEOLA MONSURAT ADEYEMI AIRTEL NETWORKS LIMITED KELVIN KASIE AWAGU DENNIS UGWA AIKPOKPO OMOSIGHO OMOLUA ADEOLA DEJI-OLOWE MOTUNRAYO FAKOREDE KADAHAENE EYO IHEANYI UGWA DR-MRS ODEJAYI SARAH O ALADE NGOXI OKOLI ELIZABETH OLUDIPE DANA MOTORS LIMITED BISOLA ADENIKE AJAYI ABEL B ALUKO NA WA PROPERTIES OHIWEREI OHIOSIMUAN OLASUNKANMI AINA ENIOLA OYINKANSOLA KARUNWI EMMANUEL CHIEJINA IBRAHIM N.MOHAMMED GRACE O AMADI VIK INDUSTRIES LIMITED JUSTICE OKOCHA BOURGEILY NAJI NWOGU IHEANYI RICHTER FELIX ONYEKWERE OBERE CHIAZOR FELIX IKECHUKWU ABEL B ALUKO CHIBUIKE NWAJIAKU OGUNMEFUN ANTHONIA ABBA DANTATA SALAMI OWOLABI ONYEKA E- MOTHER MARY OMIEWORIO NKECHI A. OLUWABAMISE FAKOREDE DEJI-OLOWE ADEOLA MR & MRS T FAFUNWA OHIWEREI OBEAHON IJEOMA ULOMA OKORO OBINNA NWOSU REBECCA O ADEWUNMI MICHAEL ROBERTS DUROSARO TOKUNBOH OLUWATOSIN LATEEFAT OWOSENI ANUJ DIXIT SEGUN ADEOLA BELLO OBAYI DESMOND HENRY OLUMIDE Y. OSUNYOMI OSUJI EMENIKE COLLINS ELIZABETH ADEJOH EDOCHIE ROWLAND NGERIBIKA ABERE OLOPADE OREITAN KAMILDEEN KUMAR RAJ GUPIA BARONG OLADAYO TAIWO ASUQUO ASUQUOB23693 NWOKORO IHEANYI ANTHONY NWOKOLO BRIAN IKECHUKWU ENYO TRADING COMPANY LTD LILIAN OGODO ORJAIH CHIJIOKE CHARLES BOLAJI O AGBEDE RAZAQ OLADAPO AGBAJE AKINOLA STEPHEN ADEGBOHUN ANI B MONICA WOSILAT O SERIKI ODUNAYO AKANO AYOOLA GLADYS OSAHON MARTINS IKORODU STEEL MILLS LIMITED NWANKWO AMBROSE JAMES SUNDAY ABERE ABBA DANTATA OLUWAGBEMINIYI FAKOREDE OMEKA AMARACHI DIVINE ADAORA AMARA OKAFOR PATRICK OMOLE OLAGHERE ANDREA GEDAY BELLO SANDRA E EZEH JENNIFER OLUSEGUN OLUSANYA GILBRATAR/TOLUWALASE OKEOWO EMEM SYLVESTER UMOH KAVINE CHANDRU VASWANI BALOGUN ADEOLA ADERONKE KUMAR RAJ GUPIA ROSE NAT ESHIETT NNEKA EZEH BAMANGA MOHAMMED BALA IBEABUCHI FOLUSHO GR YINKA TIAMIYU VIRGIN-FOREST INVESTMENT LIMITED ONIFADE OLUWATOYIN OLADIPO OZOR NDUBUISI CHRISTINA ABBA DASUKI OLUMUYIWA OLAWALE OSIMOSU AIRTEL NETWORKS LIMITED INI INYANG RICHARD EHINDERO OLISA ADEBUKOLA O JOSEPH OKOTIE-EBOH OGUNFOWORA OMOLADE DAFE O. ORAKA SEYI ONADEKO IJIYEMI PETER OLAWAMI FRANK AIGBOGUN ODION TAIWO OSENI BANKOLE OLATUNJI OLUWAKAYODE

PTA CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT SCHOOL FEES SCHOOL FEES CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT SCHOOL FEES CREDIT CARD SETTLEMENT SCHOOL FEES CREDIT CARD SETTLEMENT SCHOOL FEES CREDIT CARD SETTLEMENT NESCAFE CLASSIC CHAIN 12(120x2g) N1 x4 CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT SCHOOL FEES LOAN REPAYMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT SCHOOL FEES CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT SCHOOL FEES CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT RAW MATERIAL : COPOLYMER CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT SCHOOL FEES CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PREMIUM MOTOR SPIRIT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT SCHOOL FEES CREDIT CARD SETTLEMENT SCHOOL FEES CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT LOAN REPAYMENT CREDIT CARD SETTLEMENT SCHOOL FEES CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT

DATE OF FUND PURCHASE

6-Oct-16 7-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 5-Oct-16 7-Oct-16 6-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 7-Oct-16 5-Oct-16 6-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 5-Oct-16 6-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 6-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 7-Oct-16 6-Oct-16 5-Oct-16 7-Oct-16 7-Oct-16 5-Oct-16 7-Oct-16 4-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 6-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 7-Oct-16 7-Oct-16 4-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 6-Oct-16 6-Oct-16 6-Oct-16 5-Oct-16 6-Oct-16 6-Oct-16 6-Oct-16 7-Oct-16 6-Oct-16 7-Oct-16 6-Oct-16 7-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 7-Oct-16 7-Oct-16 4-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 7-Oct-16 7-Oct-16 7-Oct-16 5-Oct-16 6-Oct-16 7-Oct-16 6-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 4-Oct-16 6-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 7-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 5-Oct-16 4-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 7-Oct-16 7-Oct-16 7-Oct-16 6-Oct-16 7-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 7-Oct-16 7-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16

EXCHANGE AMOUNT RATE

SN

CUSTOMER

ITEM OF IMPORT

DATE OF FUND PURCHASE

EXCHANGE AMOUNT RATE

361.00 361.00 345.85 361.00 345.85 345.85 361.00 345.85 361.00 361.00 345.85 345.85 345.85 345.85 345.85 361.00 361.00 345.85 361.00 345.85 345.85 361.00 345.85 345.85 361.00 345.85 361.00 345.85 345.85 361.00 314.65 345.85 361.00 345.85 361.00 361.00 345.85 361.00 361.00 345.85 361.00 345.85 314.60 345.85 361.00 345.85 345.85 345.85 361.00 361.00 345.85 345.85 361.00 361.00 361.00 345.85 345.85 361.00 345.85 345.85 345.85 361.00 345.85 345.85 305.50 361.00 361.00 361.00 361.00 345.85 361.00 361.00 361.00 361.00 361.00 361.00 361.00 361.00 345.85 361.00 345.85 345.85 361.00 345.85 361.00 361.00 345.85 345.85 345.85 361.00 345.85 345.85 361.00 345.85 361.00 361.00 361.00 345.85 361.00 361.00 361.00 304.75 345.85 345.85 345.85 361.00 345.85 345.85 361.00 345.85 345.85 345.85 361.00 361.00 345.85 345.85 361.00 345.85 361.00 361.00 345.85 345.85 361.00 345.85 345.85 345.85 345.85 361.00 345.85 345.85 345.85 361.00 361.00 361.00 361.00 361.00 361.00 361.00 314.60 345.85 345.85 345.85 345.85 345.85 361.00 361.00 361.00 345.85 361.00 345.85

301 302 303 304 305 306 307 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 324 325 326 327 328 329 330 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 355 356 357 358 359 360 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 379 380 381 382 383 384 385 386 387 388 389 390 391 392 393 394 395 396 397 398 399 400 401 402 403 404 405 406 407 408 409 410 411 412 413 414 415 416 417 418 419 420 421 422 423 424 425 426 427 428 429 430 431 432 433 434 435 436 437 438 439 440 441 442 443 444 445 446 447 448 449 450

OLUWATUYI TOYIN LOOKMAN GBOLAHAN MARTINS BOURGEILY NAJI OKE KEHINDE OLOLADE BOLEIGHA PATTISON ADEKUNLE AKINLALU INTERBANK SHAMINA CHANGRANI HALIMA ALIKO DANGOTE UGWUJA FREDERICK SUNDAY NNAMDI K. OKERE ALOK GUPTA OPARA AUSTIN ADIELE OLUMIDE SOYOMBO MOHIT MELWANI ANNIE OBIAGELI EBOKA UDEMBA SUSAN NNEKA BIODUN ACCESS BANK PLC ADEGBOYEGA GBOLAHAN AYODELE OGUNREMI YESIDE IFEOLUWA OKOH NICHOLAS IMMAN TEMIDAYO OLUBUKOLA(BUNDLE USD) OCHAI UNAZI EDWIN VICTOR ETUOKWU INWERE IJEOMA PATRICIA IMOH ALFRED IDEM FATIMA FAROUK LABARAN ADEKUNLE BABATUNDE OLUJOBI ADEDAYO O ODUNSI TREGA CONSTRUCTION LIMITED BORISA NIG LTD-NWORISA B O DANLADI HALILU OLANIRAN JASMINE ELIZABETH OPEYEMI OLUBUKOLA OSEPHINE NNEMARABIA ESSIEN ENO INYANG AKWUAKA THEOPHILUS SUNDAY AIRTEL NETWORKS LIMITED BABAYO SHEHU CHINEDU ONUOHA AUTA IBRAHIM SUNDER SHEWAKRAMANI OKWUCHUKWU ANTHONY OKEKE OTAROHWOFABETA ALICE AKORODA CHIKEZIE NWOSU ATONBARA EBINIMI EZEKIEL-HART DENTAL & ORTHODONTIC CONST. PETER BELLO MORDI MARIA BRIGHT OBINNA OKEKE OSISIOGU CHRISTOPHER ABUJA STEEL MILLS LIMITED SUNDER SHEWAKRAMANI AKEEM ADESOLA ADESINA SIMILEOLOWA SHONEYE MOSHOOD OLATUNJI ADEYEMI OWOLABI LAWAL KOLAWOLE OSUAGWU CHIOMA CATHERINE AIRTEL NETWORKS LIMITED DENNIS UGWA STEPHANE OARHE OHIKHUAE EHIMIAGHE DE AUTO BRIGHT DANA MOTORS LIMITED OLABODE EMMANUEL SHEKONI DAYO ELIZABETTH BOLAJI INNOCENT OKEREKE IBEBUOGU AIRTEL NETWORKS LIMITED ABIOLA LUKMAN LAWAL OMOWUNMI KAFILAT SANNI AKORODA OGHENESEROME DOROTHY ATAKE OLUKEMI OHIWEREI AUSTINE I. CHUKWUKERE KEHINDE BELLO SOSU SENAMI OLAKUNMI WHIZ OIL LTD UDEME UFOT IDRIS WAZIRI OTHMAN AYODEJI OLUFOWOSE VICTORIA IMADE MONYE ATOYEBI EMMANUEL OYEDIJI EGHOSA ALUYI IHUOMA LAETICIA INWERE MIDEDA SERVICES LIMITED NJIE OUMIE HADIZA SHEU MOHAMMED OLAWALE HASSAN ADAMA AISHAT ABDULKADIR SARAH FRANCIS NIGERIA LIMITED KALU AGWU OGHENETEGA T. ERHIMU OWOLABI AREMU KUNLE IYAYE BOMA GEORGE N. NWOGU JIMOH ABDULRAHEEM YINKA AKINTONDE OLUKEMI FATIMA DANGOTE OKOLO MAUREEN UKAMAH OLUSEYI BANJO SOSAMI AFRINVEST (WEST AFRICA) LIMITED TECHNO OIL LIMITED AIRTEL NETWORKS LIMITED PAULINUS IKECHUKWU EJEZIE USORO NSIKAK IGHADARO OSAGIE FESTUS SEGUN ADEKOYE FAYEMI KAYODE AKEEM OLAMIDE SHADARE AYODELE AGBEDE OKOCHA W DAISY FAJEMIROKUN OLAYINKA SAMUEL BOLANLE BAIYERI IYCONSOFT LIMITED ANDREW OGHENOVO GBODUME ANTHONY OKAFOR HALIMA KYARI TIJJANI ABDULKADIR RABIU HAKEEM OMOTAYO T. DAUDA IKPAKPA LETICIA ARIGBODI OLASUNKANMI MARSHAL OMISEYE OLADEJO ABIODUN OGUNBITAN ADOKIYE IBIERELE IKPOKI STANLEY AJUDUANEVILLE SHIVANIKA GUPTA AFRICAN WIRE AND ALLIED INDUSTRIES ONUKWUBIRI OLAEDO GINIKANWA EKE ANTHONY CHIJIOKE SOLOMON AIGBAVBOA AIRTEL NETWORKS LIMITED OLUKAYODE OLADAPO AKANDE DAG MOTORCYCLE INDUSTIRES NIG. LTD FIKA HANNATU ADAMU NKECHINYERE LYDIA OFILI OKOSUN IMIEBIHORO O. OFOMA UGOCHUKWU CLEMENT IKECHUKWU EZE JACKSON SONIME DANIEL ROBERT IMOWO OLUSEGUN OLUSANYA OMISORE T.O(MS)27610 IROKO GIDEON OJO ODUSANYA OLAOLUWA CALEB A. ABUDU FREDRICK OKECHUKWU NSOFOR ADENEJKAN KARUNWI YASHE YAHUZA MORENIKE OGUNWOLU OLUBUKOLA GBODUME

CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT INTERBANK CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT DEBIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT LOAN REPAYMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT SCHOOL FEES CREDIT CARD SETTLEMENT SCHOOL FEES CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT SCHOOL FEES CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT LOAN REPAYMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA PTA SCHOOL FEES LOAN REPAYMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT 20 MT OF TOLUENE DI-ISOCYANATE (T.D.I.) CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT SCHOOL FEES CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PREMIUM MOTOR SPIRIT LOAN REPAYMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA CREDIT CARD SETTLEMENT PTA CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT LOAN REPAYMENT CREDIT CARD SETTLEMENT BAJAJ RE 4S 198.88CC AUTORICKSHAW CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT

5-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 4-Oct-16 5-Oct-16 6-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 5-Oct-16 6-Oct-16 7-Oct-16 7-Oct-16 5-Oct-16 6-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 6-Oct-16 6-Oct-16 6-Oct-16 6-Oct-16 7-Oct-16 7-Oct-16 7-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 6-Oct-16 7-Oct-16 5-Oct-16 6-Oct-16 6-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 7-Oct-16 6-Oct-16 5-Oct-16 6-Oct-16 6-Oct-16 5-Oct-16 6-Oct-16 7-Oct-16 5-Oct-16 7-Oct-16 4-Oct-16 5-Oct-16 6-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 6-Oct-16 5-Oct-16 7-Oct-16 6-Oct-16 7-Oct-16 6-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 4-Oct-16 7-Oct-16 7-Oct-16 5-Oct-16 7-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 7-Oct-16 4-Oct-16 5-Oct-16 6-Oct-16 7-Oct-16 5-Oct-16 6-Oct-16 6-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 7-Oct-16 5-Oct-16 7-Oct-16 6-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 6-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 7-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 6-Oct-16 7-Oct-16 7-Oct-16 7-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16

345.85 361.00 345.85 345.85 345.85 361.00 305.25 345.85 361.00 345.85 345.85 345.85 345.85 361.00 345.85 361.00 361.00 361.00 345.85 361.00 345.85 345.85 345.85 361.00 361.00 361.00 361.00 361.00 361.00 361.00 361.00 361.00 345.85 345.85 361.00 345.85 361.00 314.60 345.85 361.00 345.85 345.85 361.00 345.85 361.00 361.00 345.85 361.00 361.00 361.00 345.85 345.85 361.00 345.85 361.00 345.85 361.00 361.00 314.60 361.00 361.00 345.85 361.00 361.00 345.85 361.00 345.85 314.60 361.00 345.85 345.85 361.00 345.85 345.85 361.00 361.00 315.50 361.00 361.00 361.00 361.00 345.85 345.85 345.85 345.85 361.00 361.00 345.85 361.00 361.00 345.85 345.85 345.85 361.00 361.00 345.85 345.85 361.00 361.00 345.85 361.00 304.45 314.60 345.85 345.85 361.00 361.00 345.85 361.00 361.00 345.85 345.85 361.00 345.85 345.85 361.00 361.00 361.00 345.85 345.85 345.85 345.85 361.00 361.00 361.00 345.85 345.85 345.85 361.00 345.85 314.60 345.85 306.00 361.00 345.85 345.85 361.00 345.85 361.00 345.85 361.00 361.00 361.00 361.00 361.00 345.85 345.85 345.85 345.85 361.00

4,000.00 3,020.00 728.88 2,875.00 694.22 1,000.00 557.95 220.00 50.00 131.69 10,500.00 4,000.00 167.43 153.30 295.82 25.00 17,435.99 5,181.60 3,896.40 1,200.00 3,000.00 205.95 1,102.16 634.78 5,597.83 721.63 7,311.00 1,033.44 2,700.00 45,000.00 65,143.91 1,200.00 893.56 950.00 1,779.96 1,410.00 4,000.00 3,470.55 293.93 3,032.52 292.54 5,000.00 6,978,756.22 53.61 713.37 4,000.00 1,386.43 1,529.66 1,314.90 9,200.00 4,000.00 1,857.00 3,548.14 1,891.00 103.48 5,294.25 15.00 27,988.72 950.00 6,477.00 2,600.00 1,811.58 463.04 1,200.00 13,277.90 20.00 5,000.00 583.98 1,259.00 53.02 14.37 0.46 7.03 800.00 1,205.72 20,101.84 19.06 292.54 244.66 35.37 950.00 82.48 1,573.00 4,185.29 17.34 1,500.00 5,000.00 29.91 250.00 702.81 77.56 2,500.00 51.23 416.80 13.73 132.81 2,000.00 83.79 114.99 7,274.14 62.91 14,850,900.00 246.17 1,601.66 4,000.00 0.03 4,314.75 4,000.00 4,057.28 47.34 812.47 4,500.00 9,972.50 389.36 650.00 292.54 77.15 435.36 4,000.00 7,400.00 39.78 1,661.79 3,500.00 2,500.00 4,207.50 1,377.34 12,304.85 5,000.00 1,074.23 196.46 10,790.50 100.76 3,000.00 4,000.00 1,147.25 12.86 0.07 58.53 3,755,843.60 1,782.44 2,601.81 321.93 481.51 119.40 183.97 396.12 0.51 3,500.00 682.90 359.67

201.71 812.47 2,500.00 749.18 179.34 282.99 50,000.00 363.49 344.40 10.00 0.24 950.00 2,100.00 1,789.68 1,200.00 111.52 1,524.05 365,946.07 650.00 694.22 118.48 5,950.94 4,500.00 10,000.00 15.00 338.73 1,171.64 5,052.18 1,188.06 40.00 725.49 597.00 409.79 4,193.42 4,000.00 117.36 13,611.58 515,143.36 774.29 599.59 1,411.72 1,200.00 484.47 4,000.00 3,369.39 6.34 1,500.00 15.00 6,500.00 4,955.59 557.95 4,500.00 2,300.00 4,533.90 1,738.86 936.93 369.76 1,200.00 6,509,622.82 3,795.00 30.79 1,200.00 41,046.94 1,971.17 4,000.00 4,000.00 8,900.00 707,328.53 168.00 83.00 8.99 1,331.54 510.00 2,361.38 634.81 5,977.32 15,881.30 1,000.00 10,000.00 639.08 60.81 77.00 6,500.00 174.14 4,000.00 1.92 2,424.82 347.07 2,011.41 2,508.00 760.00 39.53 19,154.27 230.57 0.03 4,000.00 2,200.54 180.43 5,310.22 468.16 919.00 5,120,660.00 3,987,104.89 64.39 352.23 2,138.09 1,000.00 55.76 291.68 1,687.88 20.00 36.87 4,000.00 4,000.00 1,200.00 4,000.00 1,000.00 3,782.31 905.21 1,046.89 367.00 123.31 1,600.00 59.22 17,349.14 2,100.00 2,100.00 41.16 155.71 2,300.00 250,590.14 131.69 42,541.37 1,146.84 140.18 500.00 1,431.06 3,600.00 2.69 4,000.00 2,390.29 1,626.82 2,436.42 1,000.00 324.27 6.00 1,200.00 2,654.12 2,000.43 500.00

8

Monday, 10 October, 2016

Nigerian Tribune

Access Bank Plc RC125384

RETURNS ON SOURCES AND UTILIZATIONOF FUNDS FOR THE WEEK ENDED OCTOBER 7TH, 2016

BANK: ACCESS BANK PLC DATE OF RETURNS: 10/10/16 UTILIZATION OF FUNDS

UTILIZATION OF FUNDS

SN

CUSTOMER

ITEM OF IMPORT

451 452 453 454 455 456 457 458 459 460 461 462 463 464 465 466 467 468 469 470 471 472 473 474 475 476 477 478 479 480 481 482 483 484 485 486 487 488 489 490 491 492 493 494 495 496 497 498 499 500 501 502 503 504 505 506 507 508 509 510 511 512 513 514 515 516 517 518 519 520 521 522 523 524 525 526 527 528 529 530 531 532 533 534 535 536 537 538 539 540 541 542 543 544 545 546 547 548 549 550 551 552 553 554 555 556 557 558 559 560 561 562 563 564 565 566 567 568 569 570 571 572 573 574 575 576 577 578 579 580

AIRTEL NETWORKS LIMITED AYODEJI AKINBOOLA SALIM HANEIN REGINA EZINNE I. IYALLA DEINMA I CHUKWUWEIKEN V NESTLE NIGERIA PLC CHIBUIKE NWAJIAKU DEBERECHI NWOSU MAYOKUN OLUSOLA SOREMEKUN GISANRIN OLABIMPE ORJAIH MICHAEL OLUMIDE OLUWATOYIN OGUNTUYI CHIKA KINGSLEY OHAGBA NITIN SENAN ADAORIE FELICIA OSADEMEY UDECHUKWU SERIKI RAZAK ADEMOLA A PHILLIPS OLAIYA ADEMIJU A JULIUS EBENEZER OLUFOWOSE SAMUEL JOHNSON OKPOKO YELLOWE EVANS BOB OCHIPEL INTEGRATED SERVICES LTD IGBENMA IJEOMA NDUNERI ABDU, DANTATA222941 KUMAR RAJ GUPIA RASAQ AYINDE ADEMOLA MOSUNMOLA GBADAMOSI FRANBET COMPANY LIMITED VISHANT DALAMAL PETER OLUWAFEMI AKINYEMI ROBERT IMOWO GILBRATAR OLUOKEOWO BARNABA OLATUNDE ONAMUSI KUMAR RAJ GUPIA AGADA B. APOCHI NGWU OSITA MEDITARION NIGERIA LIMITED OLAGHERE OJINIKA NKECHINYELU SARAH O ALADE ANTHONY EMENGO KUNLE OLADIPO OGUNNAIKE NWUKE IFEOMA ADAM CALISTUS OKOENE ANDREW GBODUME SULEIMAN ALIYU LAWAN OLUBUSOLA ELIZABETH AYOFADUMIL NWUKE IFEOMA TAIWO BUSARI MURTALA MELWANI NATASHA MOHIT ODUKOYA ADEMODU OLAJUMOKE OLUWAKEMI AJAYI GUY JAMES MURRAY-BRUCE AJIBOLA J FAFIOLA PAUL ASIME AMINADOKIARI ORJAIH NGOZI TINUOLA MOBOLAJI ONIFADE ESEOSA VALENTINA ASEMOTA OBIORA HOPE O. OGOMA CHUKA OKAFOR OLATOYE OLUMUYIWA OSUNSANYA AIKPOKPO OMOSIGHO OMOLUA ODUSANYA OREOLUWA SIMISOLA KAWU MAHMUD OGIUGO DANDY IKPONMWOSA CHARLES-BRUNO NWOSU ENE-ITA ANNE OLALEYE,BIODUN.14220 ETIGWE UWA IKENNA EZEH BASHIR A DANTATA OLAYINKA B ADEKUNLE BABANGIDA RAMALAN OGUNSOLA FOLASADE MARGARET IQUO ORONSAYE ODUNAYO AKANO-AYOOLA ENYO TRADING COMPANY LTD ONIFADE TINUOLA MOBOLAJI IKENNA CHIDOZIE OKOLI IKENNA OKILI EKE CHIJIOKE ADESINA ADEBAYO OLUROTIMI CHUKWUEMEKA O ODEBEATU DEBORAH MODUPE OLUBUKOLA AFRICAN GLASS LIMITED BINWAS LTD-OBINWA D ANULI TAIWO OGBONNEWO NWOGU IHEANYI RICHTER AIRTEL NETWORKS LIMITED OLUWASEYI AKERELE OLUWAKEMI BANYE OLUCHUKWU MICHAEL OZURUOKE AJIE HAPPY AHEDOR SARZINA JITE OMO UDOYO CHIPS BITS BYTES- ADETUNJI VETERAN & VINTAGE TECH. COMP. AWELE JULIET NDU OGWUDA BROWNSON DEDE GILBRATAR/OLUWATUMININU AIRTEL NETWORKS LIMITED NASIRU A. DANTATA OMIJOKE TITILOLA OMISORE CHINELO NWOKORO-BAKARI OKEY ADIBE REGINA AITUAJE ODUGBEMI YETUNDE IDAYAT LAWAL ILOABACHIE BENJAMIN IFEANYI BUHARI UMAR OLUGBENGA SAMUEL KUTEMI LINDA ABIMBOLA MORAKINYO NWANKPA C AMARACHUKW ADEKUNLE BABATUNDE OLUJOBI BROWNSON DEDE TEMITOPE OSHUNTUYI NURAT OLUBUSAYO AMOO RAJAN SADHWANI AKINOLA STEPHEN ADEGBOHUN SANNI I DANGOTE NESTLE NIGERIA PLC MSHELIA MUSTAPHA MAINA MONDAY IMOUKHUEDE AKELE OLUDIPE ELIZABETH HABIB M. BELLO OLATEJU MICHAEL ADEBOWALE IBRAHIM AYODEJI OLANREWAJU FRANK EMMANUEL OKAFOR MORENIKE OGUN OLAKUNLE KABIR OLATUNDE ELIAS ABI NADER ORRJIHA CHIJIOKE

LOAN REPAYMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT NESCAFE CLASSIC CHAIN 12(120x2g) N1 x4 CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT MORTGAGE PAYMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA CREDIT CARD SETTLEMENT CHEMICALS - RAW/MAT CREDIT CARD SETTLEMENT PTA CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA CREDIT CARD SETTLEMENT SCHOOL FEES CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT SCHOOL FEES CREDIT CARD SETTLEMENT SCHOOL FEES CREDIT CARD SETTLEMENT PREMIUM MOTOR SPIRIT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT TECHNICAL FEES CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT LOAN REPAYMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT NESCAFE CLASSIC CHAIN 12(120x2g) N1 x4 CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT

DATE OF FUND PURCHASE

5-Oct-16 7-Oct-16 5-Oct-16 7-Oct-16 6-Oct-16 7-Oct-16 6-Oct-16 5-Oct-16 6-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 7-Oct-16 7-Oct-16 5-Oct-16 7-Oct-16 7-Oct-16 6-Oct-16 5-Oct-16 6-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 7-Oct-16 5-Oct-16 6-Oct-16 7-Oct-16 5-Oct-16 6-Oct-16 6-Oct-16 5-Oct-16 6-Oct-16 7-Oct-16 7-Oct-16 6-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 7-Oct-16 6-Oct-16 5-Oct-16 7-Oct-16 4-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 5-Oct-16 7-Oct-16 7-Oct-16 5-Oct-16 6-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 7-Oct-16 7-Oct-16 6-Oct-16 5-Oct-16 7-Oct-16 7-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 6-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 6-Oct-16 6-Oct-16 5-Oct-16 7-Oct-16 6-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 5-Oct-16 6-Oct-16 6-Oct-16 6-Oct-16 7-Oct-16 7-Oct-16 6-Oct-16 5-Oct-16 7-Oct-16 7-Oct-16 6-Oct-16 7-Oct-16 6-Oct-16 7-Oct-16 6-Oct-16 6-Oct-16 7-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 6-Oct-16 6-Oct-16 7-Oct-16

EXCHANGE AMOUNT RATE

SN

CUSTOMER

ITEM OF IMPORT

DATE OF FUND PURCHASE

EXCHANGE AMOUNT RATE

314.60 361.00 345.85 361.00 361.00 361.00 314.65 345.85 361.00 361.00 345.85 345.85 361.00 361.00 345.85 345.85 361.00 361.00 361.00 345.85 361.00 361.00 361.00 345.85 361.00 361.00 345.85 345.85 305.50 345.85 345.85 345.85 345.85 345.85 361.00 361.00 345.85 361.00 361.00 345.85 361.00 361.00 345.85 361.00 361.00 361.00 361.00 361.00 345.85 345.85 361.00 345.85 361.00 345.85 361.00 345.85 361.00 361.00 345.85 361.00 345.85 345.85 361.00 345.85 345.85 361.00 345.85 361.00 361.00 345.85 361.00 345.85 345.85 345.85 361.00 361.00 304.75 361.00 345.85 361.00 361.00 345.85 361.00 345.85 345.85 361.00 345.85 345.85 314.60 345.85 361.00 361.00 361.00 345.85 361.00 361.00 361.00 345.85 345.85 314.60 345.85 345.85 345.85 361.00 345.85 361.00 361.00 361.00 361.00 361.00 361.00 345.85 361.00 361.00 361.00 361.00 361.00 361.00 314.65 361.00 361.00 345.85 361.00 345.85 345.85 345.85 361.00 361.00 361.00 361.00

581 582 583 584 585 586 587 588 589 590 591 592 593 594 595 596 597 598 599 600 601 602 603 604 605 606 607 608 609 610 611 612 613 614 615 616 617 618 619 620 621 622 623 624 625 626 627 628 629 630 631 632 633 634 635 636 637 638 639 640 641 642 643 644 645 646 647 648 649 650 651 652 653 654 655 656 657 658 659 660 661 662 663 664 665 666 667 668 669 670 671 672 673 674 675 676 677 678 679 680 681 682 683 684 685 686 687 688 689 690 691 692 693 694 695 696 697 698 699 700 701 702 703 704 705 706 707 708 709 710

LAWAL OYEBOLA AKEEM ABDULMUTALLIB LAWAN BAKO ZONDIVAS GLOBAL TRAVELS EIGBIKE MARTIN ELIAS RAFFOUL KOYA ADEBAYO OLAGUNJU K OLADEJO FALAYE BANKOLE FEYI OYEBANJI ALABI MICHEL JOSEPH GHOUL UNIVERSAL ESTATES LIMITED ADEWUMI JOHN OLUNIYI JOANNES NWOSU HALIMA T. DEMOLA-SERIKI NJIE MUSTAPHA IGHADARO OSAGIE FESTUS CEMEX INL-BARTH IGBOANUGO OYEBANJI ALABI NWANKPA C AMARACHUKW OPE WEMI-JONES OKORIE LINUS ABAA ANDREA GEDAY AIRTEL NETWORKS LIMITED LAWAL HAFSAT AFOLABI FOLASHADE A OLANIYI TOLULOPE AWOSOPE OGUINE CHIKWUDALU- CYDON OGOMA CHUKA OKAFOR NJIE SOSSEH MODUPEORE ADERIBIGBE GIDEON CHIGOZIRI WODI AMADI OSINACHI CHIOMA LAURA E IGBE ONUKWUBIRI CHINEYE UZOAMAKA BLESSING E UZOMA MICHEAL WOYINEMI NDIOMU AFEEZ IPESA-BALOGUN ERNEST C EBI OLUSEGUN I BABALOLA VICTORIA C SOYANNWO ABIGAIL IYABODE SHOLANKE FAYEMI KAYODE MR & MRS EDDIE EHIZODE SALIM ANDRAOS EBENEZER OLUFOWOSE ANON GLOBAL PROPERTIES COMPANY OGUNSAN OLUBUKOLA A DAAMI ESTHERLINE MUHAMMED ADELABU IYAYE BOMA OKOSUN IMIEBIHORO O. OSARIEME UHUNMWANGHO SANDEEP PARASRAMKA SHONEYE MARYAM OGUNFOWORA OMOLADE ALIYU BAKARE OKONKWO MIKE VERONICA INI INYANG ADRIANA SARZINA BANKOLE ADEMOLA BANJO ONUAGULUCHI CHIOMA VALENTINE MELWANI MOHIT UDHARA DENNIS UGWA TEKENATE PETER EBEN-SPIFF ABDULGANIYU OLAYIWOLA SALAKO AFRIGLOBAL MEDICARE LIMITED OMAYULI WALE-AJAYI ONUKWUBIRI ALPHONSUS IRO OLUSOLA JUDAH OLUFUNSHO ONYEKACHI UGWA DAG MOTORCYCLE INDUSTIRES NIG. LTD MSHELIA BALA MOHAMMED BISHOP ADIGWE NAOMI BRIGHT UMEH IFEANYI REV. IZEBE CHRISTOPHER OARHE FRANCOIS JABBOUR CHIDIAC KUMAR RAJ GUPIA JOSEPH OLUBUKOLA ARISTOCRAT INDUSTRIES LIMITED NWOSISI CHUKWUNONSO ANDREW OSISIOGU CHRISTOPHER DEVEN SADARANGANI OSINEYE PAUL OLUSEGUN AJUMOGOBIA RITA DR-MRS ODEJAYI DEEPIKAS DEEPIKA SHAH GULAB NARUMAL CHANGRANI OHIWEREI OBEAHON AIRTEL NETWORKS LIMITED GBODUME OLUBUKOLA OYINDAMOLA OYESOLA OLAORE LUKE NWOYE THELMA OFOMA RAYMOND NWABUEZE EYO AYOBAMI OLUWASEUN IWE CHIJIOKE B.13049 ESEOSA V. ASEMOTA ODIBO PASCAL OKEY ADIBE ADETOKUNBO SHITTU DR-MRS ODEJAYI SOJI OLASOKO IHUOMA LAETICIA INWERE RAJAN SADHWANI OKE KEHINDE OLOLADE GILBRATAR/ADEJOKE OKEOWO CHINWE PHYLLIS UZOHO NNEOMA E EHIMIAGHE OLUWABAMISE FAKOREDE LOVE OROMA GLORY JOE TECHNO OIL LIMITED MAHMUD M. MAHMUD JOY ETUOKWU SOJI OLASOKO TITLAYO WASILAT ESHO TECHNO OIL LIMITED ACCESS BANK PLC ADENIYI ADEKUNLE OYEMADE HALILU HALIMA UMMA ODUSANYA A OLUWASESAN ASEMOTA ADEBOLA OLAYINKA B ADEKUNLE IBEGBULEM EMELOGU OBIOMA IBIROGBA, ADEBAB2878 GEORGEWILL DIMABO AMURE FELICITY ADEDAPO A OLAGUNJU NWOKOLO SANDRA ONYINYE ELSIE N THOMPSON AIRTEL NETWORKS LIMITED KILASO ADEREMI RASHEED

CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT SCHOOL FEES SCHOOL FEES CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT LOAN REPAYMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT SCHOOL FEES CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT SCHOOL FEES CREDIT CARD SETTLEMENT SCHOOL FEES CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT LOAN REPAYMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT BAJAJ BOXER-BM100CC MOTORCYCLE CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT LOW DENSITY POLYETHYLENE (LDPE) LOTRENE CREDIT CARD SETTLEMENT SCHOOL FEES CREDIT CARD SETTLEMENT SCHOOL FEES CREDIT CARD SETTLEMENT PTA PTA CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT TECHNICAL FEES CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA PTA CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT SCHOOL FEES CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PREMIUM MOTOR SPIRIT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT PTA PREMIUM MOTOR SPIRIT DEBIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT MORTGAGE PAYMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT MORTGAGE PAYMENT CREDIT CARD SETTLEMENT CREDIT CARD SETTLEMENT LOAN REPAYMENT CREDIT CARD SETTLEMENT

6-Oct-16 7-Oct-16 6-Oct-16 6-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 4-Oct-16 6-Oct-16 6-Oct-16 7-Oct-16 5-Oct-16 6-Oct-16 6-Oct-16 7-Oct-16 6-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 7-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 6-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 6-Oct-16 5-Oct-16 6-Oct-16 6-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 5-Oct-16 6-Oct-16 7-Oct-16 7-Oct-16 5-Oct-16 6-Oct-16 7-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 6-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 7-Oct-16 6-Oct-16 6-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 7-Oct-16 7-Oct-16 7-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 6-Oct-16 6-Oct-16 7-Oct-16 6-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16 7-Oct-16 5-Oct-16 7-Oct-16 6-Oct-16 5-Oct-16 6-Oct-16 7-Oct-16 5-Oct-16 6-Oct-16 7-Oct-16 5-Oct-16 6-Oct-16 5-Oct-16 6-Oct-16 6-Oct-16 7-Oct-16 4-Oct-16 6-Oct-16 5-Oct-16 5-Oct-16 7-Oct-16

361.00 361.00 361.00 361.00 361.00 345.85 345.85 345.85 361.00 361.00 361.00 345.85 361.00 361.00 361.00 361.00 361.00 345.85 345.85 345.85 361.00 361.00 314.60 361.00 345.85 345.85 361.00 345.85 361.00 345.85 345.85 345.85 361.00 345.85 345.85 361.00 345.85 345.85 361.00 361.00 345.85 361.00 361.00 345.85 361.00 345.58 345.85 361.00 361.00 345.85 345.85 345.85 361.00 345.85 361.00 361.00 361.00 345.85 361.00 361.00 361.00 345.85 345.85 345.85 361.00 314.50 345.85 345.85 361.00 345.85 306.00 345.85 361.00 361.00 361.00 361.00 361.00 345.85 305.50 345.85 345.85 345.85 345.85 345.85 345.85 361.00 345.85 345.85 314.60 345.85 345.85 345.85 345.85 361.00 361.00 361.00 361.00 345.85 345.85 345.85 361.00 361.00 361.00 361.00 345.85 345.85 345.85 345.85 361.00 304.75 345.85 361.00 361.00 345.85 304.45 361.00 345.85 361.00 361.00 345.85 361.00 345.85 361.00 361.00 361.00 345.85 361.00 345.85 314.60 361.00

3,817,734.42 40,000.00 975.76 41.49 2.42 4,000.00 65,143.91 2.00 572.82 31.74 78.04 791.85 700.00 71.89 2,100.00 204.86 2,549.02 2,000.00 2,561.25 4,622.01 40.50 20.00 10,000.00 709.36 5,202.00 5,000.00 4,000.00 983.89 20,000.00 3,500.00 4,000.00 74.07 1,200.00 1,640.27 600.00 332.25 880.39 2,300.00 4,000.00 950.00 628.61 4,000.00 1,200.00 0.01 3,321.00 10,000.00 4,000.00 2,800.00 487.84 2,100.00 13.91 135.01 1,000.00 176.50 100.00 797.56 1,527.80 500.00 4,000.00 309.65 1,738.00 3,122.78 1,000.00 114.20 638.54 855.38 30.00 1,050.48 705.66 201.54 580.00 18.00 8,186.93 72.00 13,008.00 47.34 7,750,050.00 1,527.80 7,000.00 306.27 727.00 110.00 2,795.00 4,159.10 3,500.00 4,334.49 1,500.00 583.98 208,184.63 225.00 403.00 0.03 554.78 400.00 23,550.00 35.12 4,000.00 4,500.00 4,500.00 452,524.00 712.41 1,626.82 68.00 765.00 447.74 2,696.61 0.05 50.14 4,000.00 3,320.00 80.02 5,052.18 20,000.00 200.00 20.00 1,267.26 4,314.75 12,296.63 65,143.92 20.00 5.48 333.54 17,629.00 1,311.54 50.00 950.00 1,500.00 427.89 2,507.08 7,191.09

16.10 4,858.32 3,000.00 116.99 0.19 895.09 4,387.71 3,569.67 1,344.94 5.31 45,000.00 4,149.44 548.73 4,133.48 256.97 360.87 10,279.09 1,344.94 80.02 284.57 7,557.34 415.21 1,386,735.24 28.40 575.13 1,005.32 4,970.18 66.36 11.07 57.78 75.00 80.00 501.73 650.00 7,641.44 2,911.87 627.25 1,200.00 4,000.00 359.59 160.52 55.76 668.00 4,500.00 1,696.77 3,808.48 67.20 6,000.00 2,375.00 230.57 719.70 199.54 532.16 306.86 676.60 408.17 2,289.88 1,857.55 2,754.16 2,500.00 126.40 2,459.66 713.37 293.93 964.91 249,999.99 950.00 843.23 904.29 608.47 57,458.63 244.25 140.45 50.00 150.93 25,965.00 5,000.00 4,136.51 35,000.00 302.22 2,000.00 5,500.00 3,886.20 3,548.25 4,000.00 4,000.00 38.63 501.03 130,115.39 950.00 105.54 1,200.00 309.24 1,011.53 305.00 350.00 5,695.49 3,147.29 4,000.00 4,000.00 1,145.62 174.14 7,542.35 749.18 1,200.00 13,047.56 1,200.00 1,025.79 2.67 4,709,500.00 1,495.65 4,000.00 202.17 4,000.00 5,345,340.00 25,236.52 950.00 234.53 646.51 2,401.48 18.00 450.95 15,031.00 14.52 0.03 3,628.08 297.26 18.00 1,618,646.85 10,713.62

9

Monday, 10 October, 2016

Nigerian Tribune

10

news

Monday, 10 October, 2016

Former governor of Ogun State and chairman, Kresta Laurel Limited, Chief Gbenga Daniel (left), receiving a gift from the president, Institute of Chartered Accountants of Nigeria (ICAN), Deacon Titus Soetan, during a visit to Chief Daniel in his office, in Lagos, on Friday.

Current economic situation may be a blessing in disguise —Gbenga Daniel

F

ORMER Governor of Ogun State and Chairman, Kresta Laurel Limited, Chief Gbenga Daniel, has said that the current economic situation in the country might be a blessing in disguise and an opportunity for Nigerians to look inwards by developing local contents and effecting outright adjustment in ways of life.

Receiving a delegation of the Institute of Chartered Accounts of Nigeria (ICAN), on a courtesy visit led by its president, Deacon Titus Soetan, at his office in Lagos, on Friday, Chief Daniel reiterated the fact that government should place more emphasis on local manufacturing and production, most especially, in the agricultural sector.

“It is criminal to the economy if we spend so much foreign exchange on importation of food into the

Thanksgiving THANKSGIVING service to mark the 50th birthday anniversary of Mrs Oluwatoyin Esther Dina, will hold at her residence in Manchester, United Kingdom, today, October 10.

There will be entertainment of guests after the service.

Mrs Dina

country to the detriment of our staple food that have more nutritional value. It is high time we banned food importation and curtailed smuggling of such into the Nigerian markets. The total mind-set of our people must change not only in food consumption but in every sphere of our lives”, he said Earlier,the ICAN president, had described Chief

Daniel, as an accomplished engineer, a mentor and benefactor, who has always supported the accounting body and assured of ICAN’s readiness to intervene and support the government in matters relating to economic policies. He used the avenue to inform the former governor of the 46th yearly accountants’ conference holding in Abuja soon.

NEMA opens 3 new operational offices in Adamawa, Edo, Kano THE National Emergency Management Agency (NEMA) has opened new operation offices in Adamawa, Edo and Kano states in its efforts to bring disaster management closer to communities and reduce response time, its Director-General Muhammad Sani Sidi, has announced.

According to the News Agency of Nigeria (NAN), Sidi made the announcement in a statement

issued by Mr Sani Datti, the Media and Public Relations Officer of the agency on Sunday in Yola, Adamawa State,on Sunday.

He stated that “as the agency saddled with responsibility of coordinating disaster management and related matters, NEMA, is making efforts to build stakeholders’ capacity and appropriate mechanism to address various facets of disaster risk reduction.”

11

businessnews

Monday, 10 October, 2016

Nigerian Tribune

$1trn taxes illegally taken out of Nigeria to be repatriated —Adeosun •Flexible exchange rate boosts investors’ confidence —Emefiele Sulaiman Olanrewaju and Dare Adekanmbi, Washington D.C

N

IGERIA is set to have repatriated back to the country taxes illegally taken out by multinational companies operating in the country.

The Federal Government had announced in August that multinational companies in the country had failed to remit over a trillion dollars in taxes which is what prompted the government to put in place a Multi-lateral Competence Agreement (MCA) and the Exchange of Country by Country Report (ECCR) so as to have a better grip on its tax laws and prevent any further tax evasion by multinational companies.

Speaking on Sunday, in Washington, at the end of the World Bank/IMF meetings, Finance Minister, Kemi Adeosun, who had a joint press conference with the governor of Central Bank of Nigeria, Godwin Emefiele, said the Nigerian team to the meetings was able to reach agreements with the UK’s Department for International Development, the US Treasury Department and others would reverse the trend of legitimate taxes flowing out of the country.

Adeosun also said an agreement had been reached with the World Bank Group and other multilateral agencies to find solutions to the funding challenges of the power sector in Nigeria.

“An agreement was reached to host a workshop on assessing solutions to the financial challenges in the power sector in Nigeria. The workshop is expected to bring together all critical stakeholders including the Ministry of Power, NNPC, NBET, NERC, generation companies, distribution companies, CBN, banks and other key players in the sector,” she added.

The minister also said the team held a meeting with the IFC, the private sector investing window of the World Bank Group, to stimulate the economy.

“Though IFC has significant investment in Nigeria, it is limited to a number of sectors. They significantly want to scale up and we’ve agreed with them. Two things, one is

Kennedy Uzoka, Group Managing Director/CEO UBA PLC (left) and Ambrose Fayolle, Vice President of the European Investment Bank during the agreement signing ceremony for 60 million euros facility from Europe International Bank (EIB) for on-lending to Nigerian businesses, in Washington DC during the world bank IMF meetings at the weekend. that we’ll host a road show to showcase Nigerian indigenous companies that could be eligible for IFC inward investment and we’ve agreed with them also that we should try to develop a pipeline of products rather than waiting for IFC to look for companies, the Ministry of Finance should take a proactive role in showcasing some of our eligible companies for IFC which we believe will crowd in more private sector investment and the jobs and growth that we need,” she said.

Speaking on the economic outlook presented by both the World Bank and the IMF, Adeosun said “the outlook was that the global economy and growth prospects will remain subdued.

“This outlook has some implications for us Africa

generally and particularly in Nigeria specifically.

There is, therefore, the need to apply a full combination of monetary, fiscal and structural tools to ensure that we are able to return to growth,” she said.

On why the government is taking foreign loans, the minister said “the Eurobond issue is an issue of pricing, not volume, but on the top of that and back to the issue that I talked on interest rates, we are going to look at how we can refinance some of our existing naira debt into the international market, to take advantage of the fact that there are negative interest rates in a lot of markets, and we think we can significantly lower our cost of funds.

“We think that is also important, working closely

with the CBN, because it takes pressure off the domestic market. We would be borrowing less in the domestic market and then bringing in some much needed foreign exchange. We have spoken to a number of lenders because the markets are really very attractive right now. With the macroeconomics framework that we have put together and that we would continue to refine, we think we have a very credible story and we should be able to refinance some naira debts at very attractive interest rate, which of course will create more fiscal space for us to spend more on capital. We would spend less on interest and more on capital.”

Emefiele speaking along that line said, “there is no disharmony, we are all

poised to see to it that we actually achieve growth in the Nigerian economy. If you read my vision statement just about three days after I assumed office, one of the core issues that I raised at that conference was that we would try to pursue a low interest rate regime.

“We feel that when people are able to access loans at low interest rates, it helps improve growth, reduce unemployment, boost industrial capacity and the rest. Of course, I’m trying to say it is something that eventually we would have to look at, but based on the numbers that the Monetary Policy Committee saw – based on the data that was available – the MPC felt we can pursue growth through another angle.

It has nothing to do with

Alleged N500bn debt: ICSAN boss throws weight behind probe of oil marketers Akin Adewakun-Lagos

PRESIDENT of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN), Dr. Nat Ofo, has thrown his weight behind the decision of the lower house, the House of Representatives, to probe oil marketers, indebted to the Petroleum Products Marketing Company (PPMC), adding that such would further boost the Federal Government‘s revenue, especially at this period of recession.

Dr. Ofo, who stated this

in Lagos over the weekend at the 42nd Annual General Meeting of the institute, also charged members of the Institute to shun any form of professional misconduct that might bring the reputation of the institute into disrepute.

The ICSAN boss argued that the planned probe of the oil marketers was a good step in the right direction so as to recover whatever debt owed the PPMC. “The resolve of the House of Reps to probe the oil marketers allegedly indebted to the PPMC to

the tune of N500 billion is good, but the probe must be genuine and the federal lawmakers should ensure that it is aimed at recovering the debt and not to enrich the pockets of those in charge of the probe.

“As a matter of fact, the probe should not go the way of other probes, which at the end of the day did not achieve the desired objective. The probe is not bad, but we must ask: how genuine is it?

“It must be seen to be just and fair so as to recover the alleged debt being owed

the PPMC and boost the dwindling revenue of the Federal Government,” Ofo stated.

He enjoined ICSAN members to shun all unprofessional conducts capable of tarnishing their personal reputation and the image of the Institute.

“As Corporate Governance practitioners, we must always be at the forefront of promoting the ideals for which ICSAN is reputed. A professional body is as good as the support it enjoys from its members,” he further said.

disharmony. We are all working together and I believe that in due course, we would achieve the growth that we badly desire for the country.”

Speaking about the flexible exchange rate, Emefiele said the module had increased investors’ interest in the country. He, however, promised that the apex bank would keep fine tuning it to give the best to Nigerians.

“I have not seen one person that has criticised the document. But what we only have to talk about is fine-tuning few aspects of it, in terms of the implementation of the content of that document. That is why I said we would from time to time, continue to look at it. As we are looking at it, I repeat, we would see how we would continue to fine tune it, to the extent that whatever we are putting in place would be such that would benefit Nigerians, improve their lives as well as the country.

“How do we make it possible for them to get foreign exchange for them to run their factories so that prices can be moderated at the level that the purchasing power of our people don’t look totally eroded.

Those are some of the engagements and I am pretty much optimistic that as we continue those engagements, they would yield results.”

Adeosun also said “we met with the World Bank Country Team as a group and one of the discussions was that there is an unacceptably low level of disbursement of funds to Nigerian projects. Indeed, the rate is 13 per cent at the moment, which is unacceptably low.

“We agreed on a number of measures to reverse this which includes reviewing the process of originating projects, project design and implementation issues to understand why certain projects are performing at a low rate. We will consider restructuring, reallocating or even cancelling irredeemable project components, strengthen our implementation capacity including our capacity for monitoring and evaluation; we will hold monthly meetings from now with the World Bank Group and there will be regular briefing of FEC and the NEC on the performance of Nigeria’s portfolios.”

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businessnews

Monday, 10 October, 2016

Naira expected to maintain stability on improved dollar supply •IMF adds Chinese Yuan to reserve currencies Chima Nwokoji-Lagos

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HERE are indications that the Nigerian naira which appreciated in every segment of the foreign exchange (forex) market last week, will stabilize on the parallel market as international money transfer agencies commences selling of dollars to Bureau De Change operators in line with the Central Bank of Nigeria directive.

This is even as China’s currency, known as either the renminbi or the yuan, has become the newest member of the International Monetary Fund’s (IMF’s) basket of reserve currencies.

The IMF announced that the move to include China’s currency in its reserves was effective October 1 and is a recognition and reinforcement of “China’s continuing reform progress.”

Meanwhile, the naira was quoted at N470 to the dollar on the black market on Friday, compared with N473 on Thursday, just as it closed at N306.75 per dollar, compared with N306.71 to the dollar on Thursday at the interbank market.

“We have started receiving dollar supply from Travelex and we expect this to gradually impact positively on the naira exchange rate going forward,” the President, Association of Bureau De Change Operators of Nigeria, Aminu Gwadabe, was quoted as having told Reuters.

“This week, we anticipate stability in the foreign exchange market on improved forex supply,” dealers at Cowry Assets Management Limited said in a note.

The Local currency appreciated against the greenback at the interbank market, Brueau De Change and parallel (‘black’) market segments, by 0.50 per cent, 1.48 per cent and 1.46 per cent to N322.12/US$, N465/US$ and N473/US$ respectively.

The appreciation of the domestic currency at the alternative market segments came on the back of boost in Dollar supply from US$30 million to US$45million from Travelex, an International Money Transfer Operator (IMTO); supplying US$15,000 to each of the 3,000 registered Bureaux De Change operator, on Friday.

Dealers disclosed that due to improved foreign exchange supply, every dated forwards contract exchange rate including 1month, 3months, 6months and 12months forward contracts stead-

ied week-on-week at N328.82/USD, N339.45/ USD, N355.41/USD; and N388.20/USD respectively.

Similarly, IMF Director Siddharth Tiwari said in a statement that the decision to add Yuan to reserves “is an important milestone in the integration of the Chinese economy into the global financial system,” adding that China’s “expanding role in global

trade” made the move possible.

Experts say the IMF’s move is likely to displace demand for other currencies in the IMF’s reserve currency basket, known as the Special Drawing Rights (SDR). Those other currencies include the U.S. dollar, the euro, the Japanese yen and the British pound.

The inclusion of the Chinese renminbi according to them will displace the

weight of the other currencies.

The U.S. dollar will now be 41.7per cent of the basket (versus 41.9% previously) while the euro will fall from 37.4per cent to 30.9per cent; the yen will fall from 9.4per cent to 8.3per cent, and the pound will fall from 11.3per cent to 8.1per cent.

The People’s Bank of China heralded the move as a “milestone” in the country’s financial progress and

said it is “an affirmation of the success of China’s economic development and results of the reform and opening up of the financial sector.”

Some analysts have argued China’s relaxed banking regulations have created the largest debt bubble in the world and will result in greater economic instability in China and globally. It remains to be seen how the IMF’s move will offset that instability.

From left: Commissioner for Projects, Universal Basic Education, (UBE) Rivers State, Opuida Willie Pepple; Rivers State Commissioner for Education, Professor Kaniye Ebeku; Corporate Citizenship Manager, Samsung Electronics West Africa, Abosede George-Ogan and Managing Director, Etiam Global Resources, Mark Anthony, during the formal inauguration of Samsung Smart School in Elekahia Model School, Rivers State, Port Harcourt on Thursday.

OPEC members lost $1trn in 2 years to low oil price —Barkindo •Says oil industry investment to shrink by 22% in 2016 Sulaiman Olanrewaju and Dare Adekanmbi, Washington D.C SECRETARY General of the Organisation of Petroleum Exporting Countries (OPEC), Mohammed Barkindo, has put the total loss in revenue for the 14 members of the organisation, including Nigeria, since crude oil price took a plunge in July 2014, at 1 trillion dollars.

Barkindo also disclosed that capital investment in the oil industry, particularly in the upstream sector, shrunk by 26 per cent in 2015 and projected to further dip in 2016 with the 2017 outlook looking bleak.

He made the disclosures on Saturday in an interview with newsmen on the sideline of the annual meetings of the International Monetary Fund (IMF) and the World Bank Group in Washington D.C., United States.

He described the low oil and contracting investment as posing a a serious threat to future supplies of crude oil to the global com-

munity with consequences on the fragile state of the economy.

The Yola-born former group managing director of the Nigerian National Petroleum Corporation (NNPC) said it was not only the oil and gas industry that was being buffeted in the current economic downturn but also other sectors of the global economy.

He attributed the low prices of crude oil to the shale oil production technology in the United States which necessitated a drastic reduction in oil import by the US from Nigeria and other countries as well as the saturation of the oil market by non-OPEC members.

“When the last good run of prices saw crude oil price rising to over 140 dollars a barrel, in conventional economics it was just a matter of time that there will be correction in the market.

“But what most forecasting agencies, including OPEC and others failed to get correctly was the

length of time it was going to take for this correction and for the market to rebalance.

“This is perhaps the longest cycle [of price drop] that we have seen in recent times. It is taking us now into the third year of the correction with the rebalancing target being put at four.

“So, it is not only OPEC that missed the target but most agencies, including the IMF and the World Bank. You have heard in the last two days of extensive consultations and discussions that some of these models [of forecasting oil prices] were found wanting.

“Nobody expected that the cycle will last this long with the severe consequences on huge revenue that we have lost,” he said.

Barkindo, however, expressed ‘cautious optimism’ that the current trend which saw the prices go above 50 dollars as a result of the cut in output from OPEC members would continue.

“The objective of this

decision taken in Algiers [Algeria] is to restore stability in the market and to address the issue of high inventory that is depressing prices.

“At the moment, we have stocks both onshore and offshore of over 3 billion barrels of crude oil. The decision in Algiers was aimed at stimulating further stock drawdown on a sustained basis which we have seen happening for almost five weeks now in the United States, which is the biggest market.

“The sum total of that, hopefully, will bring forward rebalancing of the market so that we will be able to achieve some form of equilibrium in prices with impact of revenues to member countries, especially our country Nigeria which has suffered both from lower prices [of crude oil] as well as low production.

“What is unique about this cycle is that it has brought about convergence of views from the producers as well as the consumers.

Nigerian Tribune

FAAN workers charged on revenue drive Shola Adekola-Lagos

THE Managing Director of the Federal Airports Authority of Nigeria (FAAN), Engineer Saleh Dunoma has urged workers of the authority to evolve new and efficient ways to improve on non aeronautical revenue sources in order to place the organization at the highest pedestal.

This is just as Dunoma called on the workers to rededicate themselves in order to drive the level of change needed to place the airport authority at a vantage position in attaining best practices in service contract with its stakeholders.

He made the call at the 2016 annual performance review meeting of the directorate of commercial and business development in Calabar, Cross Rivers State.

According to Dunoma; “the dwindling fortunes arising from the negative impact of the present economic realities is a wakeup call to respond to President Muhammadu Buhari’s charge to “think outside the box.

“There must be a major paradigm shift in our business model. This will provide us the opportunity to collectively carry out a forensic audit of our activities, processes and values in the pursuit of our vision to be amongst the best airport groups in the world. “ The FAAN boss further stated that: “My expectation is that attention will be given to the critical areas of commercial operations targeted at the urgent optimisation of revenue performance, enhanced work processes, and substantial decline in revenue losses.”

Speaking earlier, Mr Tito Okpaise, the Acting Director of Commercial and Business Directorate, said the retreat with its theme “Fortifying processes for sustained growth” is meant to renew commitment, determination and zeal of Staff to deliver beyond expectations.

The annual retreat which was last held in Ibadan attracted senior staff from the 22 airports across the country.

13

editorial Minister Adeosun’s coal technology Monday, 10 October, 2016

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T would be an understatement to say that Mrs. Kemi Adeosun has had a rough time at the helm of Nigeria’s Finance Ministry. Her tenure as minister has coincided with a calamitous plunge in the value of the Naira. For this, and indeed for the perceived lack of clarity on how she proposes to get Nigeria back on a sound economic footing, Mrs. Adeosun has drawn fire from various quarters. Some critics, adjudging her to be incompetent, have in fact demanded her sack. While some of the criticism clearly smacks of envy and gender bias, others are totally legitimate.

Following her comments last week in Washington, D.C., USA, at a discussion of the problems of infrastructure in developing countries, the Finance Minister may have strengthened the hands of her political enemies and given ammunition to observers who have argued all along that there is no coordination between the office of the President and the Finance Ministry. During the meeting, at which top officials of the World Bank and the International Monetary Fund (IMF) were in attendance, Mrs. Adeosun accused Western powers of sabotaging Nigeria’s efforts to build coal power plants as a way of tackling the nation’s energy crisis.

Reiterating the Muhammadu Buhari administration’s desire to find a lasting solution to the problems of power generation and supply in the country, the Minister lamented that: “…we are being blocked from doing so, because it is not green. This is not fair because they (i.e. Western nations) have an entire western industrialisation that was built on coal fired energy. This is the competitive advantage that was used to develop Europe, yet now that Nigeria wants to do it, they say it’s not green, so we cannot. They suggest that we use solar and wind, which is more expensive.

So, yes, Africa must invest in its infrastructure, but we must also make sure that the playing field is level.”

On one level, the Finance Minister has a point. For instance, she is right to condemn the hypocrisy of Western countries who, in ramping up the rhetoric about clean energy alternatives, conveniently forget

Nigerian Tribune

that, but for coal, they wouldn’t have gotten to where they are today. But here is the problem: it was only two weeks previously in Marrakesh, Morocco, that Mrs Adeosun’s boss, President Muhammadu Buhari, signed the Paris Agreement on Climate Change committing Nigeria to the reduction of “Green House gas emissions unconditionally by 20 percent and conditionally by 40 percent.”

Put differently, the president gave his word to the international community that the country would steer clear of coal power, notorious for its emission of carbon dioxide (CO2). How could Mrs. Adeosun accuse Western nations of blocking something that the country’s first citizen has promised not to do? This is not the first time that the president and his Finance Minister have contradicted each other, and it raises serious questions about the coherence of policy making at the country’s highest level.

Mrs. Adeosun’s comments would seem to suggest that Western countries are blocking Nigeria’s progress towards adequate energy generation. But it is unclear how the West could actually stop Nigeria if the country were really determined to tackle its energy and related problems head on. In any event, why is the same West unable to stand in the way of China and South Africa, two countries which continue to rely on coal for most of their energy needs? And why would the United States, say, stand in the way of Nigeria when coal power accounts for 39 percent of its electricity production?

Finally, if building coal power plants is so onerous an undertaking, what about natural gas, a resource that Nigeria possesses in abundance, and on which currently there is no Climate Change lien?

The Finance Minister’s comments, while unlikely to endear her to her sworn enemies, appear to have strengthened doubts about her capacity to chart a path to economic revival. At this difficult moment, the country needs bright, concrete ideas, not the same tired excuses, blame games and slashing at phantom enemies.

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14 LETTERS TO THE

Monday, 10 October, 2016

editor

Letters to the editor should be sent to letters@tribune.com.ng or by sms to 08053412982.

It MUST be accompanied by the full name and address of the writer.

FG, tackle rising insecurity

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HE kidnap of the wife of the Central Bank Governor, as well as a former minister and her husband on the KadunaAbuja road last week shows that the issue of insecurity is getting out of hand in the country. Before the latest incidents, several people had been kidnapped in the past, including a traditional ruler in Lagos, and the Federal

Government ought to have raised the security level in the country to its highest.

It is so bad that schools are now being targeted by these evil people; just last week, a vice principal, a teacher and about four students were abducted in Epe, Lagos, and this came eight months after an earlier attack on a secondary school in Ikorodu in February.

Nobody is safe in the

country any longer, and I believe it is the result of the economic situation in the country that the crime rate is rising every day.

Over the years, our leaders mismanaged our oil wealth, thereby leaving nothing for the citizens to survive on when things became tough. What is happening in Nigeria today can be applied to our individual lives; an individual who does not have

On poor quality of road construction in Nigeria NOTHING much is being said on the idea that cement should be used for road construction in the country. We currently use asphalt, but what we discover is that our contractors, due to corruption and greed, do not use the required quantity of asphalt in their construction works.

Last year, I visited Cote D’Ivoire, and I discovered that their roads are constructed with asphalt that are several millimeters high.

In Nigeria, after the contractor gets a tiny percentage of the original budget fee from the awarding agency, he will, therefore, be left with no other option than to do a shoddy job.

There is the story about a road contract awarded for N11billion in a state in the country, but by the time the contract left the government office, N5billion had already been deducted from it by government officials ‘who facilitated the project for the contractor.’

The contractor then had to ‘help’ himself with about N2billion, which he claimed he had spent before getting the contract, and in the end, a sum of N5billion was left to complete the job. Seeing that there was little N5billion could do, the contractor only applied asphalt to the surface of the road, while the corrupt government officials accepted the project as done.

The meaning of this is that after a couple of months, the recently-completed road project had returned to the terrible state it was before it was awarded.

This community is now

suffering untold hardship due to the greediness of some government officials and the contractor.

However, I believe with cement, the people can also be able to rehabilitate bad portion of roads since cement is readily available unlike asphalt.

I also want to use this opportunity to call on the Nigeria Society of Engineers (NSE) to blacklist companies and contractors that fail to execute projects to the required

standard. In the example I cited, I don’t understand why a contractor would accept N5billion for a project that should cost N11billion.

It is high time the NSE began blacklisting engineers or firms that do shoddy jobs in the country; this is not only in road construction, but all construction works in the country.

•Ifedayo Ajayi, Ifelove77@yahoo.ca

any savings will suffer when he becomes financially broke.

When we were awash in petrodollars, our leaders did not deem it fit to diversify our sources of income, as anything could happen to the oil industry. Did they even think the Western nations who were buying the oil at such high prices were comfortable with it. According to information, the United States started developing the shale oil over two decades ago when it was not comfortable with the high price it was paying for crude, as well as the politics tied to it in the international political arena.

Today, the shale oil is partly responsible for the fall in the price of crude, as well as the discovery of oil in more countries of the world, thus making more countries oil producers.

The truth is that oil is no longer valuable as it used to be.

Now, the inability of our past leaders to envision a bright future for the country is the reason we are ex-

periencing this economic challenges, and this can be linked to the insecurity we are currently facing in the country.

While I am blaming our past leaders for the woes we are experiencing at the moment, I want to charge the security agencies to nip in the bud the rising insecurity in the land.

One of the ways to reposition the country economically is through foreign

direct investments, but no investor will come to invest in the country if the environment is not conducive.

Therefore, if we really hope to get out of the economic mess we have found ourselves, then it is important that the country is safe for doing business.

•Dr Taju Alalade, Ilorin, Kwara State.

Let’s change our attitude ONE thing that I discovered about Nigerians is that for our country to develop, we need to change our mentality. We have come to see corruption as a way of life that we don’t see any big deal when someone steals while holding public office. It has reached a situation whereby those who are criminals are celebrated, as long as they can part with money.

We have turned money

to a god which we worship; we have forgotten the values instilled in us by our forefathers. I could remember that my grandmother once told me that in the olden days, sellers did not need to stay with their wares. They just put the money value of the items by the wares, and people would buy and put the money there, and in the evening, the seller would return to take the sales for the day. This is definitely not possible again in the country. Everybody is looking for the opportunity to steal.

It is this same value that makes our judges sentence a criminal who has stolen a mobile phone to 10 years imprisonment, while a public office holder who has stolen billions is allowed to negotiate his punishment through plea bargaining.

However, it is high time something was done about this negative attitude of ours. Those in charge of the country’s education should start changing the younger ones attitude from the primary schools. We should have Attitudinal Studies in our primary and secondary schools’ curriculum.

This subject will teach our children moral, and how to behave as true Nigerians.

We will never achieve anything if the future generation already know that they want to go into public service to make money. We should teach selfless service for the nation. This is the only way to make Nigeria great again.

•Esther Ajakaiye, Ado Ekiti, Ekiti State.

15

opinion

Monday, 10 October, 2016

Lasisi Olagunju

B

Lasgunju@yahoo.com (08111813053)

Y their own accounts, the people of Benin-city tasted salt for the first time courtesy of the place now called Lagos. At the figurative level, there is no ethnic group in Nigeria today that can vow that it does not owe Lagos a measure of gratitude for putting salt in its soup. North, east, west or wherever, all ships meet and berth in the bays of Lagos. It is the capital of everything and everybody, good and bad. That is why Abuja’s loss on weekends is always Lagos’ gain.

This is not again about Senator Bola Ahmed Tinubu and his battles and wars in his party. This is not about who nominated Professor Yemi Osinbajo as General Muhammadu Buhari’s running mate and who opposed the nomination. I am not going to dwell on that this moment although blowing in the winds are the full details of the high wire politics of that era of partitioning of and scrambling for the body and soul of Nigeria. When an old Yoruba man insisted in a national concave that the Yoruba would see nothing wrong with a Muslim-Muslim presidential ticket in 21st century Nigeria, then everyone knew the stakes were very high and the situation desperate. When it is time to tell the story, those who know will dwell on the night of the long knives and the cascading to a dawn that birthed Osinbajo as God’s choice for the number two position. That moment is not now.

This, rather, is about the geographical space called Lagos. It is about whether Nigeria should treat it as a special child or just as others with mendicant propensities.

You already know that a bill to give Lagos its due in Nigeria was violently defeated in the Senate by persons whose entire life savings are domiciled in Lagos. How ironic!

If you were in the Senate last week and you joined those who said ‘no’ to taking care of Lagos as the nation’s cash cow, you need prayers.

If you were a senator that talks every day about diversifying the economy, and you opposed that bill last week, you need deliverance. Don’t you know that whatever we are going to do outside oil, Lagos is that goose that will lay the expected golden egg for the country? And you know it is already laying the eggs only you are blinded by the pettiness of politics and ethnic jealousy. Did you know that Value Added Tax (VAT) has been one veritable indirect tax that has worked for Nigeria? Introduced on August 24 1993 by the government of General Ibrahim Babangida,

You eat Lagos’ salt, yet speak ill of Lagos

VAT contributed “N8b into the national purse in 1994, N21b in 1995, N32b in 1996, N34b in 1997, N37b in 1998 and N47b in 1999.” By today’s bogus standards, you would say those amounts were chicken change not even enough for our psychedelic governors to take as security votes. But in those lean khaki days, they were huge sums that saved the ship of state from sinking completely. Since the advent of democracy, VAT has ensured a balance between the unreliable income from crude oil and the ever-elastic budgetary expectations and projections. Now, that Value Added Tax that fills the tills of states in Nigeria every month, where do you think it comes from? It is Lagos.

Lagos is the wellhead of that spring that quenches the thirst of mendicant states for cash and more cash. Even before we plunged the nation into this pit called recession (or is it stagflation?), revenue from crude oil had crashed to a crisis level.

What has been the saviour has been the steady stream of cash from VAT. You can do your own calculations. In January this year, for instance, of the N370,388,451,,642.37 that massed into the Federation Account, N69,719,273,502.12 came from VAT. Where did that VAT sum come from? Of course, when you know that VATable products and services are majorly native to the South West, particularly Lagos, you would not need any special tutoring to agree that Lagos contributes about half of the total monthly sum that goes into the VAT accounts. And yet, we say it does not deserve any consideration for a treatment that fits its peculiarities and potentialities.

You look and sound strange when you equate Abuja with Lagos. Abuja cannot be Lagos because its beauty

is ghostly and its superficiality has not left that gilded city since its bloom in the early 1990s. It is like Ayi Kwei Armah’s desert. It takes, it does not give. These two capital spaces represent the tragedy of Nigeria where monkey works and baboon eats. You cannot equate one with the other. One is positive, the other represents the opposite.

When Lagos bakes, Abuja eats. It does not give, it takes.

It has been taking since the Shehu Shagari era. It is still taking. Lagos has been giving since the beginning of Nigeria’s history. It is still giving. Abuja is a deadly pit, bottomless. In January 2016, Abuja took N669,305,025.62 as VAT. What did it contribute? General Buhari’s Katsina State got N911,613,405.16. What was its contribution?

I will not agree you displayed intelligence and wisdom when your reason for opposing a special consideration for Lagos is either your hatred for Lagos and the Yoruba or your disgust and disdain for the political leadership of the area. Those who sponsored the bill may have other motives but the higher consideration of a Lagos that works for all should excite all of us from the north to the south. Lagos is already working. It can be better and that is what this call is all about. The market that gives value to your sweat is Lagos. It is the matrix of the nation’s political and economic civilisation. That is the truth. There is nothing you and I can do about it. Is it not better for those of us who live outside Lagos to assist in making it work and work well for the entire country? Is it not safer to make Lagos strong enough to control its minuses and keep its problems from spilling over to other parts? Have we considered the implications of having a failed Lagos on our hands? When you know that Lagos is not just about good things, when you remember that foul silt sits in its old bottle, you would know that adequate provision for its maintenance is an emergency.

I laugh at those loud senators who were vociferous in denouncing Lagos last week. We all know they are in politics making money. Did they remember that the money they make in politics and in business almost always end up in Lagos? Did they remember that a comfortable Lagos would translate to comfort for them too?

When the Yoruba see a person cutting his nose to spite his face, they feel sorry for that human being. They look at the stupidity of the wicked whose idiocy turns his dagger at his own heart. They shake their heads and say “you are not hurting me, it is yourself you are hurting.”

A dubious odour from Edo THE Edo State gubernatorial election has come and gone.

All of us must almost spontaneously thank God for the smooth exercise despite our familiarly peculiar election hiccups here and there in the election period. In fact, the election had all the well known traits of our country’s elections. But something nefariously significant did not happen: the mindless killings and murders of voters from different voting blocks and boundaries of Edo electoral map. We must spontaneously thank God for this without qualms for God was really divinely benevolent to the wonderful people of Edo State. If you disagree with me and say that God’s Hands did not give protective welfare to Edo people and inhabitants pre- and post-Edo gubernatorial election, I cannot but counter you by stimulating you here and now to do a transition to an earlier gubernatorial election in either Rivers State or Bayelsa State. We need not over-state this faultless point. We need not overstimulate you to injure your sensibilities by urging you to return to the orgies and tragedies and rhythms of electoral violence in both Rivers and Bayelsa of blood. Well before the Edo gubernatorial election Adams Oshiomhole’s popularity had seriously diminished in several parts of Edo State. There was no question about this. (And there is still no question about this in your present moment of reading this). Similarly, in several parts of Edo State Adams Oshiomhole’s stature as a champion of progress and development remained (and still remains) intact. And many persons there are who will go to any length to argue always in favour of their Comrade Governor. The respective positions taken (or un-taken) are in accordance with the manners of our country and age.

The gubernatorial election was basically contested in line with the facts that the respective voters recorded on the pages of their beliefs and analytical convictions. The authority on their points may be found in the register of INEC on the gubernatorial election.

Now let me state other pertinent matters relating to the

in&out

with Tony Afejuku 08055213059

Edo gubernatorial election.

Several friends who belong to the two frontline parties of APC and PDP in Edo State respectively reached out to me to make bright remarks on their parties, their manifestoes and prospective candidates (ever before the gubernatorial candidates emerged). I politely declined to do so. I did not want any mango romance with either party because I desire always to see In and Out as a column that is akin to a world of toil and care that readers should see as one that they can liken among lightsome hearts of our country’s writing and journalism. In other words, my readers should always dwell on this column on their mirthful spirits even when they see me striking at the foibles of their mentors and heroes. I must always endeavour to have a philosophic romance with objectivity and what comes to me as truth as I perceive it.

Now on Monday, June 6, 2016 I prophesy the next governor of Edo State. At the time I did so, I was not in the shores of our country. Also, at the time the writing entitled “The next governor of Edo is …” appeared Mr. Godwin Obaseki, the in-coming governor, had not even earned or won his party’s gubernatorial nomination. Let me render an aspect of the spiritual intimation I tendered then: “Announce my announcement And let those doubt who will doubt: They chase shallows who Enter the ring with the anointed And are on his side not: They are on the brink Of triumph that collapses.”

These were some of the words, which were part of

the spiritually perplexing intimation of the Master in charge of the Golden Temple of Wisdom of Northern Tibet strangely revealed to me in far away Florida, U.S.A. where I was at that material time. The intimation, the revelation was so authoritative to my bewildered sensibility and imagination.

Now the phosphorence of prophecy has materialized.

Nothing can change the destiny of the divinely anointed Mr. Godwin Obaseki. Osagie Ize-Iyamu’s time has not yet come. Let nobody tell or persuade him otherwise.

The odour of innocence or of holier-than-thou attitude from the breeze of the PDP in Edo (or PDP national) is a dubious one. All the tales of rigging that have been alleged to characterize the Edo gubernatorial election are glucosically and romantically laughable and dubious. Rigging in elections is normal in Nigeria and elsewhere in the world. I am not saying it is right to rig elections. But let me ask squarely: In the just ended Edo gubernatorial election, was it only the APC that rigged as the dubious odour pertaining to this subject oozes, blossoms forth from the mouth of the opposing frontline party? In the garden of the defeated there may be no flowers that blossom or that smile mirthfully amid flourishing green vegetation, so fresh and dewy and so invigorating, but the magic of hope will bring splendour to the wilderness of the defeated at the appointed time.

Thus I must end with this divine intimation: Osagie Ize-Iyamu should accept what has been that has been.

He should be nicely longanimous now. Time, energy and money in any tribunal or court of law will fail him. Everything will amount to a dubious odour of defeat that won’t erase the divine fragrance of the gubernatorial victory of the triumphant anointed. I aver this in the holy name of God, in the holy name of God that made it impossible for violence and killings to rule Edo when voters went to do their duty to their state and our country.

16

communitynews

Monday, 10 October, 2016

Apapa/Iganmu residents demand compensation for demolished houses chukwumaokparaocha-lagos

R

ESIDENTS of Apapa/Iganmu Area of Lagos State have begged Governor Akinwunmi Ambode to release the compensation for their buildings and shops that were demolished for road construction projects in the area.

The residents made the request at the secretariat of Apapa/Iganmu LCDA during the Lagos State House of Assembly sponsored Constituency Stakeholders’ Meeting, which was held across the 40 constituencies in the state.

They also requested that the 57 Local Governments (LGs) and Local Council Development Areas (LCDAs) across the state should consider reabsorbing some street sweepers that were sacked by the councils a few months ago.

One of the speakers at the event, Alhaja R.A Bello from Abese Area in Ward B, said that the government had not done anything for owners of houses that were demolished in places such as Daramola Street, Odofin and Ojora areas.

She however, threatened that the women in the area would

not vote in the next election in the state if the street sweepers were not re-absorbed by the council.

Another resident of the area, Prince Kayode Obadiya, urged the state government to urgently do something about Badiya/Ireti Primary School, which has become dilapidated.

“There are toilets, but there is no water. The road to the school is bad. The two roads that were recently commissioned in Apapa/Iganmu have also gone bad so is the inter-locked road in Opeloyeru,” he said.

In his reaction, the lawmaker representing Apapa Constituency 2 in the assembly, Honourable Olumuyiwa Jimoh,

said compensation for those whose houses were demolished for road construction projects by the state government was ready.

According to him, the initial issue was that those that came forward for compensation were more than the 381 houses that were demolished by government for road expansion in

the area.

“Compensation has been prepared by the governor, but some tenants were coming forward to claim compensation as if they were landlords, while some people, whose houses were just about two or three rooms were claiming money that is to be given to owners of big buildings,” he

Deserted Ogbe/Ijoh Market, after the mayhem, recently. PHOTO: EBENEZER ADUROKIYA

Operate within budget limits, community-based agencies told biola azeez-ilorin

A call has gone to officials of community and social development agencies operating in collaboration with the World Bank to always operate within budget limits.

The call was made by the

task team leader of Community and Social Development Project (CSDP) in Nigeria, Professor Foluso Okunmadewa at a two-day meeting organised by the Federal Project Support Unit on Community and Social Development Project

Reps member empowers 200 women, youths in Jigawa adamu amadu-dutse

A member of the House of Representatives, representing Gumel, Maigatari, Gagarawa and Suletankarkar federal constituency in Jigawa State, Alhaji Muhammad Sani Zorro, has empowered 200 members of his constituency.

Speaking at the distribution of the empowerment items in his home town, Gagarawa, the lawmaker said the aim is to make the people self-reliant.

He said: “I have earlier distributed empowerment items to people in Gumel and Suletankarkar Local Government areas and now we are here. This project will continue until the majority of the people have been empowered.

“Our target is unemployed youths and women.

For the women, we focus more on widows and divorcees. We are optimistic that this gesture will help in reducing crime among our youths.”

Items distributed includ-

ed motorcycles, grinding machines, generators and sewing machines to 150 women, while another 50 received grains, beans and N3,000 each.

The lawmaker, however, disclosed that the state governor, Alhaji Muhammadu Badaru Abubakar, is working hard to ensure the completion of Gagarawa power substation.

(CSDP) and 2017 budget deliverables in Ilorin, at the weekend.

Professor Okunmadewa urged the agencies to follow the World Bank administrative and financial procedures while dealing with communities.

The don, who said that the CSDP was designed with a special provision for the poor and the vulnerable in rural communities, added that 26 states of the federation, including the Federal Capital Territory, Abuja, were currently participating in the project.

He further said that there is a need for the development of a new manual in order to commence implementation of component 4 of CSDP in the coming year to assist vulnerable groups and internally displaced persons in the North-East.

The task team leader said CSDP had the mechanism of creating partnership between government and poor communities, adding that the mechanism gives ownership and control of the project to the poor.

Okunmadewa, however, gave kudos to the state governments that had bought into the project despite the economic recession in the country Also speaking, the National Coordinator of CSDP, Dr. Abdulkareem Obaje, said the meeting was called at the instance of FPSU which coordinates CSDP activities in Nigeria, to discuss issues of the draft manual of component 4 of CSDP which deals essentially with gender issues and the vulnerable.

He also said that the assessment so far had showed that the poorest of the poor

had not been sufficiently targeted for support even now that there are a lot of Internally Displaced People (IDPs) in the country, adding that this reason made the World Bank to give its backing to the component.

Police wade into Ogbe-Ijoh/ Agbassa feud over levy collection Ebenezer Adurokiya-Warri

WARRI Area Commander of the Nigeria Police, ACP Muhammed Muazu and representatives of other security agencies have waded into the crisis between Ogbe-Ijoh and Agbassa communities in Warri South-West and Warri South Local Government

15 Kogi communities to benefit from JDPC’s project yinka oladoyinbo-lokoja

THE Justice, Development and Peace Commission (JDPC) in Kogi State said it had commenced a project on improved water supply, sanitation and hygiene in 15 selected communities in the state.

No fewer than 300, 000 people are expected to benefit from the water component of the project with Lokoja, the state capital, having 196,624 of such

beneficiaries.

The project, which is being implemented with the support of the Catholic Aid For Oversea Development (CAFOD) in Rome, Italy, is meant to improve the living standard of the people in benefiting communities.

The Project Manager, Mr Simon Enejor, said the project would be implemented for 10 months.

He said: “The project will create awareness and

advocate for behavourial change on sanitary and hygiene practices in the communities. “’Open defecation, indiscriminate dumping of refuse and poor waste disposal habits remain serious problems in many parts of the state. This is what JPDC is trying to correct”.

Enejor, who is also the secretary of JDPC in Lokoja, said benefiting communities include Egge,

said.

The lawmaker,who is the Deputy Majority Leader also educated the people about the categories of roads in the state, saying that some roads that belong to the local governments were being repaired or constructed by the state government.

On the sack of street sweepers by the local councils, he said that this was caused by the prevailing economic recession in the country, adding that this has affected the income of both states and local governments in Nigeria.

“We have to wait till the local councils are bouyant again. If they should absorb the sweepers now, they may not be able to pay their salaries,” he said.

The lawmaker promised that erring road contractors would no longer be given jobs by the state government and that the issue of state police, which some of the stakeholders canvassed for, was beyond the state government.

He added that the assembly passed the Neighbourhood Watch Law to serve as an alternative to state police, which, he said, required a tedious constitutional amendment.

According to him, the purpose of the meeting wa to carry residents along in the state’s budget preparation as he said that some of their requests would form part of the 2017 budget of the state.

He promised to submit the outcome of the meeting to the government on their behalf.

Kuroko, Adogo, Idoji, Obangede, Banda, Felele, Kabawa, Sarkin Noma, Adankolo, Idah, Agaliga, Anyigba, Ankpa and Ejule which were selected across 11 local government areas.

He added that the project was in line with the organisation’s vision of promoting a society where the dignity of the human person is upheld and guaranteed as a basis for the attainment of his general well-being .

areas of Delta State.

Crisis erupted recently between both communities over ownership and who should collect levies from traders at the yet-to-becompleted Ogbe-Ijoh Iron Market.

Contrary to reports that a court verdict had declared Agbassa community as the owner of the market, Nigerian Tribune gathered, that the case is still pending in court.

At a meeting at A-Division presided over by the Area Commander, where leaders of the two communities were present, a peace pact was signed.

The pact, ACP Muazu said, was to the effect that both communities would stop further collection of levies from traders in the market until the matter is resolved.

Both parties, at the truce meeting, presented evidence in support of their claim of ownership of the land and market.

17

Monday, 10 October, 2016

Nigerian Tribune

Group Business Editor Sulaimon Olanrewaju | 08055001708 | lanresulaimon@yahoo.com | @lanresulaimon

leadership & management

entrepreneuership

We accumulated $60bn in foreign reserves at $30 per barrel —Soludo

markets

analysis

Former governor of Central Bank of Nigeria, Charles Soludo, after a presentation during the IMF-World Bank Summit, discussed issues with Nigerian journalists, which included Nigerian Tribune’s DARE ADEKANMBI.

Y

OU just made a presentation to Central Bank governors in Commonwealth nations which the media was not allowed to cover. Can you just give us the highlight of your presentation?

The focus of the presentation was actually on monetary policy under uncertainty and they asked me to speak on the Brexit because among governors of central bank of the 53 Commonwealth countries. The concern was about the possible implications of the Brexit on the economies of the Commonwealth and being governors of central bank, what this could mean for monetary policy. The major hypothesis there was that Brexit can only be seen as just one of the many sources of uncertainties in the global economy today.

If the worst case scenario happens, Brexit can only heighten the state of uncertainties.

But the global economy itself is almost in reset button mood. There is an uptick in the level of uncertainties in the global economy.

We haven’t gotten over the legacy issues as a result of the 2008-2009 global financial crises.

You can see that Europe and America still have tepid and sluggish recovery. There is a potential of China having a hard landing and there are fears about that, which could unravel quite a lot of things in the global econoy. You can see the price shocks on primary commodities dependent economies, such as Nigeria and so on. Several of them are in trouble.

And they are in trouble as a result of the oil price shock as well as wrong policy choices to respond to the shock. As a result of the old shock, many countries have reached the limit of the policy squeeze that they have.

Many have accumulated huge public debts because they ran excessive deficits. For monetary policy, interest rates are almost at very low end and many of these countries now have negative real interest rates. So, there isn’t much. Where again are you going to go to stimulate these economies?

Some have raised interest rates in order to attract portfolio flows, but how far are you going to raise it without compromis-

ing growth? So, they have reached much of the policy handles. So, the emphasis of my message to these governors is that this is the time to take pre-emptive, proactive contingency planning, in anticipation of the next global crisis. The latest global financial stability report 2006, talks about the uptick of uncertainties and vulnerabilities and the potential risks that the global economic system faces.

Therefore, even though Brexit is unlikely going to have any major adverse impact on the global economy, it would have impact on Britain, but we still don’t know the magnitude and duration of such effect, whether positive or negative. I also discussed the opportunities of Brexit.

Global preparation for economic crisis But, the key thing for central banks and policy makers over the world to be concerned about is the state of affair of the global economy and the financial system.

There is a whole lot of uncertainty and risks everywhere. It just takes one major crisis in some place and it will snowball into another crisis.

So, what are the contingency plans that countries are putting in place? Otherwise,

What we did when oil price was rising in Nigeria ... is to maintain an undervalued real effective exchange rate...

We deliberately did not allow the naira to appreciate as it should have, otherwise we could have had the naira below N100 to the dollar and that would have been catastrophic.

what you find is that people are going to be perennially reacting to the shocks as if they were not anticipated. Just like in the case of Nigeria, in 2010 I wrote a piece, in which I drew attention to the fact that we were having an unprecedented oil boom and we were actually saving nothing.

We were actually depleting the reserves even at the peak of the oil boom. Like I always say, I met $10 billion when oil prices were around $30 per barrel. By the end of the year, oil prices was still around $30 per barrel, but we grew reserves by more than 50 per cent and kept growing it until we reached about $60 billion.

I had an average monthly oil price of $59 per barrel throughout my 60 months in office and we were building reserves, almost doubling it every year. And we had to do the consolidation of the banks before the world crisis came. So, it is this kind of pre-emptive policies. You do it before it comes, you don’t do it when it comes. You need to anticipate that the global economic and financial system, given the globalisation, is inherently unstable and it is inherently crisis prone.

Therefore, periodically, you will be having cycles of crisis and shocks.

Of course in the paper, I discussed quite a number of other things, about how the ministers of finance, the governors of central banks and the ministers of trade and invest-

ments, need to come together and develop what I call alternative scenario buildings.

What if this happens, how are we going to react? What if this happens, how should we react? So, you have menu of options. I said them that what we did when oil price was rising in Nigeria has not been replicated in most parts of the world when they are having commodity and export boom. And that is to maintain an undervalued real effective exchange rate.

You wouldn’t have been able to accumulate the reserves. What you have is that when you have an export boom, countries have overvalued real exchange rate. But we have a singular record of having maintained an undervalued real effective exchange rate regime even during an export boom.

We deliberately did not allow the naira to appreciate as it should have, otherwise we could have had the naira below N100 to the dollar and that would have been catastrophic. You wouldn’t have been able to accumulate the reserves.

The real issues with Nigerian economy People think it was because oil price was rising, that that is how you accumulate reserves, no! Even at that time, it was still exContinues pg18

Nigerian Tribune Monday, 10 October, 2016 18 To grow the economy, ‘we should be able to see beyond today’ Continued on pg17

pensive to bring in goods relative to what it should be. It made better sense for people to bring in money into the country, change it into naira and do business. And because of that inflow, there was a time when the central bank could not sell more than $20 million per auction. We would offer $200 million, and the banks could not take up to $20 million. That was because the system was awashed with private flows. So, the CBN at some point became a minor player on the foreign exchange market. Anyway, I don’t want to speak beyond that. But the significant point to leave you with is that, I know people are pre-occupied with today’s crisis, but, what they are facing today is like, take the Huricane Mathew in some part of America today, it is like some parts of the house facing leakage, and you are busy fixing it, but the huricane that might actually take out the entire house is fast approaching. So, it is how you prepare for all of these uncertainties that matters. As I said, it is not a question of ‘if’ but ‘when’ the next global crisis would hit the world.

Do you foresee a global crisis?

Like I said, the global economic system is inherently crisis prone.

So for several countries facing commodity price shocks, in the short run, what did you advise them to do?

In the short run, I have told many of them that this is the time to rethink some of their policy instruments. Some of those countries have fixed or quasi-fixed exchange rate systems. That in theory and in practice, in a time when you have negative terns of trade shocks, is a no brainer. If you fix prices, if you fix the nominal variables, the real economy would adjust. Something must adjust.

You cannot fix price and fix quantity. I said this in a lecture that I gave in November last year, when I was commenting on the exchange rate regime that we were operating, and to some extent, still doing now. The mismatch of what we have today, we call it flexible exchange rate regime. Of course, it is a quasi flexible exchange rate regime, creating all manner of distortions in the system. I did make the argument forcefully, that if we are fixing the exchange rate, then in the real economy, the quantities would adjust, and that is output and employment. So, when you see unemployment escalating and the economy going into recession, that is what we should expect. You can’t have your cake and eat it.

So the major message I left with them as Central Bankers, when you talk about the short term, is to look at the menu of policies handles that they have. That some of their policies was for an economy that no longer exists. Those quasi-fixed, bond issuance, and so on and so forth.

Yes, good enough, that actually encouraged them to borrow excessively externally.

Since they have loaded that, they are now locked in to keep the fixed exchange rate, so that it helps them to service the external debt.

IMF MD Has said the Fund will start giving zero interest loans to countries facing challenges. Does that tally with what you’re saying?

Well, the IMF can give – they’ve got all kinds of concessionary lending facilities.

You can give whether it is zero or it is at whatever interest. What does that really mean for many of these countries. The fundamental thing is to have a healthy balance sheet, that is sustainable.

Otherwise, if you are in an unsustainable path, whether it is zero or whatever thing, it is unsustainable, you get one today, you need it tomorrow, because you still have to pay back the principal.

If you are in an unsustainable path, you can’t even pay back the principal. So the point is some form of adjustments that get these countries to be on a sustainable path, that you’ll even be in a position – the IMF does not give grants, it is still a loan. It still has to be repaid.

The interest thing is on the margin as it were – it is still a loan; a loan is still a loan.

It could help some countries tidy over, some highly distressed economy to tidy over their circumstances, but that is not the way.

People must think of those as short term.

The fundamental thing is the adjustment that gets you on a sustainable path, and that is where I think the central banks need to re-examine their instruments. I’m talking about the Central Bank of the Commonwealth.

We talked about the instruments that they are using, and also called on the need for supra-national coordination. What needs to happen at the G-20, group of 20 countries that account for about 80 percent of the world GDP. Coordination of monetary and fiscal stimulus package in these countries could actually help to avert or at least postpone the crisis that we are talking about.

That’s what we did, that’s what happened in 2008, 2009 as it were.

The global economy is already in some huge risks, everywhere. It hasn’t turned into a recession The global recession; we are out of it, but still wobbling, everything is still in a wobbling mode, and that is why everything else is going down.

Commodity prices have crashed, America is not growing fast, the European Union is not growing really fast – you have the Brexit. China is slowing, its cooling off, and so on and so forth.

These are the sources of uncertainty and anxieties around the world.

A lot of currencies are under pressure around the world. You once proposed naira denomination, looking at low income countries like Nigeria, would you advise us to redenominate our currency?

Let me tell you, like I told you, I didn’t want to come to start doing interview about what Nigeria should do, or what Nigeria is not going to do, I told you, if it is about the annual meetings, fair enough. It is a gentleman agreement to focus on the annual meetings, because if we are going into Nigeria, we have a saying in my place, it is not the kind of talk you get into without having a breakfast. Nigeria’s thing is not the kind of conversation you get into. You have to get breakfast. So let’s leave that one.

You have reservations talking about Nigeria. Let say the president contact syou privately, will you be willing to offer him some advice?

Did you see my reaction? It is only baba who laughs, me I’m just smiling at what you’re saying. I do my own citizen duty, as a citizen of Nigeria. I love Nigeria, and I have also done my own bit in public service.

Those six intensive, intense years; we were almost running it 24 hours, I mean, doing what you should do in 72, 96 hours in 24 hours.

We have almost 200 million people in the country. Largely endowed country, and I believe that there are enough people, even within the government and outside of government. There are enough people with all the ideas. There are people, there are Nigerians, who can do this, so leave me, let’s not talk about this.

When you left office as CBN governor, you attempted to become a state governor. If you had become a state governor then, since then till now, what has been happening in the political space, how would you have coped?

We would have coped, extremely very well, I can tell you that. Even though at the state level, much of what you have, people get to face the same shock, it ripples back. The federal government in Nigeria is a major constraint to the states, and that is why some of us believe that the current structure that we have is for a time we no longer live in.

The current structure was designed to share and consume the oil rent, and I have argued that the structure that is designed for consumption, cannot be efficient for production. So we know that it would have its own ripple effect.

But if that happened, by now, I should be finishing my second term. So that first term thing, when things were still going, I’m sure we would have. We did it at the aggregate level, we would have been able to do it back in my state.

We prepared Nigeria to weather through the worst financial and economic crisis since the great depression. Nigerians took it for granted, but we still recorded six point something percentage growth at the end of the year. People took it for granted – that is how it is supposed to be.

We did it at the national level, we would also have done it at my state, and that is the message. Passed on to this government. The key word is seeing beyond today. When we were doing consolidation, people said impossible, why, how. Then, when the global crisis came, every country was then recapitalising, but we had done that several years before. The key thing is that we should be able to see beyond today, and that is the message I delivered to the governors of the central banks.

While they are pre-occupied with today, running in circles, the major thing is coming. That contingency planning, or futures mapping, what if this happens, this is how we react, what if this happens, this is how we

react. It is those kind of things that help you stress test the system, and you then know how. If this one crystallises, it doesn’t come to you as a shock, because you had anticipated it, and you have prepared the instrument to respond. You don’t wait until it hits you, otherwise, you’d be going in circles.

Do you see the governors’ preparing for the future?

After my presentation, many of them responded by actually sharing experiences of what they are doing in their individual countries, and some actually reacted in anticipation. For example, I was impressed at what the governor of Mauritius responded in terms of the reserves, because I told them that to see the depreciation of the pound sterling as an opportunity in terms of diversification of reserves. It is down now at 30-year low, but it could also rebound tomorrow. So if you take a position today in pound sterling, from dollar, you get a lot of pound sterling and then tomorrow, when it appreciates, you can also get more dollars.

For every bad thing, there is an opportunity.

He said once the debate on Brexit started, they took the position that it would happen, and so they did the adjustment in anticipation of the worst case scenario and they got it all right.

In Nigeria, do you see us preparing for the future?

You’re still going back to that. Like I said, for me, as a Nigerian, I have tried to intervene on this matter, doing my own duty as a patriotic citizen who loves that country.

Also, as somebody with every sense of modesty, I have also paid my own dues. To put it on an even kill, when we were debating the exchange rate thing, I thought it was…

I mean, I have never seen a thing like that.

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Monday, 10 October, 2016

Nigerian Tribune

dent Muhammadu Buhari spoke at the African Business Forum two weeks ago, he said the same thing and even mentioned specifically the Free Trade Zone which is where we operate. So, what our government is creating environment to attract investment.

How key a development partner is the private sector in the realisation of the ambitious SDGs? THE private sector is the key to solving world’s problems and achieving the SDGs and that is the case we put forward here at the World Bank using LADOL as a prime example. At LADOL, we built the only privately developed port facility inside the Apapa Port in Nigeria. We invested $500 million, turning a disused swamp into the largest shipyard in West Africa. We also built a deep offshore logistics base that is going to save our offshore oil and gas industry billions of dollars over the next few years.

So, this is a prime example of how private sector investment can add value and transform the market. What we have done at LADOL is going to create 50, 000 jobs directly and indirectly and has 10 times multiplier effect. The indirect effect is very important and that come about because it is a very strategic investment. We are building investment that enables the biggest jobs in the world to be done in our country. This makes it easy to do a whole host of related services that will transform fabrication and engineering. We have already increased the local demand for fabrication by a factor of four. We are going to have fabrication across the country, from the south to the north. This is because we have cracked the biggest part of the barrier, which is being able to do business in Nigeria.

80% creation potential:

SMEs integral to achieving SDGs —LADOL MD A medical doctor-cum investment banking expert, Dr Amy Jadesimi, the Managing Director of Lagos Deep Offshore Logistics Base, was one of the discussants gathered by the World Bank Group to discuss how to galvanise the private sector to achieve the Sustainable Development Goals (SDGs) which aim to reduce extreme poverty in the world by 2030. DARE ADEKANMBI spoke with her after her presentation.

D

URING your presentation, you advocated for a paradigm shift in calling for a diversion of capital from low growth to high growth investments, particularly in the SMEs. How is this important towards achieving the SDGs? The Nigerian market is huge. Nigeria needs $14 billion infrastructure every year and the huge market can justify that.

SMEs is the way to go because they can create 80 per cent of the jobs. If we don’t factor the SMEs, we may as well forget about the SDGs. The $17 billion made available for projects by multilateral bodies should be channelled towards empowering SMEs. How do you think Nigeria which is already borrowing heavily to finance projects could make money

How to make money from ecotourism

available to the SMEs? The Nigerian government has made it clear that it wants to create an enabling environment for the private sector. The Managing Director of the Nigerian Port Authority, the Comptroller General of Customs visited LADOL and they all said the same thing that government is committed to creating a conducive atmosphere for businesses to thrive and creating a level-playing field. When Presi-

Against the background of complaint of a near-toxic business climate in Nigeria from potential investors, how easy has it been for your company?

It has been an uphill task for the team behind LADOL. The company was founded by my father, Ladi Jadesimi and others and has been run as a labour of love, a patriotic effort because he saw in his lifetime that Nigeria was moving in the wrong direction and that it was not developing new capacities and not making long-term investment. So, for him and other founders of LADOL, it is about making sure that when we go through the next 30 years of oil and gas exploration, we use it to develop our country and to diversify the economy.

Of course, being the first, we came across a lot of opposition. Many of you would have seen that we have had court cases. We have had our detractors. In the maritime sector, there is a well-known monopoly that has tried very hard to keep us and a few others down and push us out. But they have never succeeded because this is bigger than one company or monopoly. We are committed to growing the industry for everybody because Nigeria has the capacity for 10 more LADOLs. Nigeria has the capacity for thousands of fabrication yards. We want to see more millionaires and billionaires. We want to see Nigeria become the hub for West Africa and this will create thousands of jobs.

Recession and what it means to be an entrepreneur

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Monday, 10 October, 2016

MAN vice chair charts ways to ‘encourage’ young entrepreneurs in manufacturing

By Ruth Olurounbi VICE Chairman of Manufacturing Association of Nigeria (MAN) and founder/ CEO, Emzor Pharmaceutical Industries Limited, is calling young entrepreneurs to get involved in manufacturing sector of the Nigerian economy.

Some analysts have expressed confidence that young entrepreneurs’ involvement in the sector could help boost local production and help strengthen naira.

Dr Okoli, in a chat with Entrepreneurship+ explained that her advocacy for young entrepreneurs in the manufacturing sector was to help reduce unemployment rates which she considers “a time bomb waiting to explode.”

It will be recalled that Okoli founded her company 33 years ago and the company has since extended its footprints to Liberia and Sierra Leone.

“The most important thing here is that all our young ones don’t all don’t have to have jobs; they can be directed to starting businesses from their skills,” she said.

She added that: “If you go to Ladipo market, you will be amazed at how cars are fixed there. If those boys can be helped in that direction, they can do well and even improve the economy of the country. We used to import stainless steel chairs but we now found out that some people are making it in Ojuade market here in Lagos and they are better than the imported ones.

“So, there are so many things we can do to help our young people. Everybody doesn’t have to employed, they can start their own business and become employers of labour.”

Highlighting ways to get the young entrepreneurs into the sector, Okoli said it was important to start with capacity development programmes.

“Now, you will see that I mentioned skills. And this is an area that I strongly believe that we can help our young people, we can teach them the skills they need in the manufacturing sector. If we can provide capacity development programme for these young people, this can go a long way,” she said.

Although her Chike Okoli Centre for

Entrepreneurial Studies (COCES) with “vision to re-train, re-tool, and re-skill, Nigerian youths to make them more relevant in an increasingly contracting global economy,” already plays a role in capacity development programmes, she said it was important that many private businesses and governments collaborate to create more of such centres across Nigeria.

Okoli also called on the federal government to develop and implement specific and targeted policies that would strengthen the manufacturing sector and provide level playing field for the young people who are coming into the sector.

“The policymakers must know what the manufacturing sector is about and the policies must be implemented support the sector because the sector, if properly supported, could be the largest employer of labour” in Nigeria, she said.

She added that some incentives such as single digits loan special window for the manufacturers could also go a long way in helping the young people.

“And also, you can’t really progress without exporting your goods; therefore, all the regulatory bodies/agencies must meet and work together. The job of the regulatory agency is to make sure that the industry is competitive to international standard, so that at the end of the day we can have movements of different types of manufacturing products from Nigeria to the different parts of the world,” she concluded.

Ruth Olurounbi

0811 695 4637 (sms only) e:ruth.olurounbi@tribune.com.ng t:@Olurounbi

Recession and what it means to be an entrepreneur THE other day at the entrepreneurship class I take at a local church in Ibadan, a question: “what does recession mean to entrepreneurs in Nigeria?” was quickly followed with another: “how do small businesses survive recession?”

While I tried my utmost best to answer these questions and a few more others as accurately as I could, I admit, at a time like this, it is hard to be an entrepreneur, let alone to encourage anyone to become an entrepreneur.

In addition to the biting recession everyone has to deal with, difficult situations (some particularly peculiar to Nigerian entrepreneurs) make doing business in the country very hard to do.

However, many entrepreneurs are finding ways to flourish in this tough economy. Some have looked into investing in real estate, tech, agriculture and other service related businesses, while using the proceeds from those businesses to run their main business. Some swear this strategy work for them.

While it seems almost unavoidable not to complain about how the economic situation has collapsed some businesses, robbed people of their jobs (media reports have it that more than one million jobs in Nigeria were lost in during the second quarter of the year due recession) and about the attendant high cost of living, among other woes the

recession brought with it, it is pertinent to, once again, take a stock of who an entrepreneur is and hopefully by the end of the day, some would be reminded why they are in business in the first place and would find the necessary push to keep them going.

In the course of writing this piece, I asked what the term “entrepreneur” meant to several people. Most of my respondents defined an entrepreneur as a person who has started his or her own business. Whereas this is one way to define an entrepreneur, it does not capture, to a larger extent, the true essence of what it means to be “a risktaker, innovator and individual willing to carve his or her own path in a world that doesn’t always take kindly to people who

fail to follow the status quo,” as Paula Fernande put it in her Entrepreneurship Defined: What It Means to Be an Entrepreneur.

As Jennie Ripps, CEO of Owl’s Brew put it, “entrepreneurship is all about embracing challenges. When you’re building something from the ground up, you need to get into the weeds and problem solve.” This, she said, allows for a “better big-picture strategy — why did this happen? How do I solve it? How do smarter people than me solve it? With a young company, when you experience a new challenge, it’s usually a growing pain. So while it can be difficult to get through, it’s for the best possible reason — your company is getting bigger!”

I find this definition about entrepreneurship deeply true. Of course, there are many challenges bedeviling Nigeria, but the world does not celebrate those who complain about the problems, but those who find solutions to it.

This recession presents an opportunity for entrepreneurs to develop the big-picture strategy and find ways to make their businesses survive the test of time. After all, being an entrepreneur is about giving everything you have when the going gets tough and never giving up. Like the saying goes, if you truly love what you’re doing and you believe in it, you won’t give up on it.

Ecotourism is rapidly becoming the largest sector of many country’s tourism industry, particularly as a means of stimulating economic development.

DOYIN ADEOYE writes on the need for Nigeria in its bid to diversify the economy, to see ecotourism as a viable sector, among other issues.

Nigerian Tribune

How to make money from ecotourism

Chagoury, 4 other listed among Top 10 Int’l Private Investors in Nigeria

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INCE its conception, many countries in the developed world and particularly in Africa, have embraced and encouraged ecotourism as a means of attracting foreign investment and exchange.

Originally conceived in response to declining environmental and economic conditions throughout the developing world, ecotourism and other forms of sustainable travel not only have low impact on the environment, but also contribute to the economy.

However, Nigeria despite its rich biodiversity and extensive ecosystem is unfortunately yet to actually tap into this economy boosting venture, unlike its other African counterparts such as South Africa, Ghana, Kenya and Ethiopia, among others, who inarguably enrich their economy through wildlife based tourism.

Globally, ecotourism generates $77 billion in revenue and makes up five to seven per cent of the overall travel and tourism market. It is one of the fastest growing sectors in the travel industry, with a growth rate of 10 to 30 per cent.

Tourism itself is the biggest sector of business in the world economy, responsible for over 230 million jobs and 10 per cent of the gross domestic product (GDP) worldwide. According to TIES, 83 per cent of developing countries rely on ecotourism as a major export, while others such as Costa Rica, Ecuador, Nepal, Kenya, Madagascar and Antarctica, rely on ecotourism as the major contributory factor in their GDP and employment level calculations.

Considered a leader in ecotourism in Africa, South Africa affords numerous opportunities for sustainable lodging, wildlife viewing and touring, while Kenya on the other hand, which is home to approximately 11 per cent of the world’s avian species, and has about 54 national parks and reserves, generates a lot of revenue from its wildlife.

There are various national parks and protected reserves across Nigeria and according to the Nigeria National Park Service (NNPS), the seven national parks are the Kamuku National Park in Kaduna; Gashaka Gumti in Adamawa/ Taraba; Kainji Lake in Kwara/Niger; Oyo Park in Oyo-Old; Okomu in Edo State, Chad Basin in Borno/Yobe-Chad Basin; and Cross River.

The eighth, Yankari Game Reserve was upgraded to a national park in

1992, although it was later handed over to the Bauchi State Government in June 2006.

Responsible for preserving, enhancing, protecting and managing vegetation and wild animals in the national parks of Nigeria, the NNPS is a parastatal under the Federal Ministry of the Environment.

Some other tourist attraction sites in the country include the Obudu Mountain Resort in Cross Rivers State; the Azumini Blue River in Umuahia Ibeku, Abia State, where a fascinating blue river flows from the southern part of the state towards the edges of neighbouring Akwa-Ibom State.

The uniqueness of the Ikogosi Warm Springs in Ekiti State is in the flow of its water, where both warm and cold spring flow side by side, each maintaining its thermal properties.

Others include the Birnin Kudu Rock Painting, the Olumirin waterfalls and the Sukur Cultural Landscape, among others.

With these, Nigeria has a potential to be a leading ecotourism country in Africa if the necessary attention is given to the sector.

Former Director, Zoological Garden, University of Ibadan (UI), Dr Olajumoke Morenikeji, noted that there is a need for more investments by the government for our tourism industry to thrive.

“Government is not very interested in this area and this is very sad. There is a need to redevelop these attraction sites so that they can be in good shape, because ecotourism is a revenue generating sector. When foreigners visit a country, the money paid is not only for the locals, as it also reflects on the economy of the country. Many people travel to Kenya majorly because of the wildlife; it is a beautiful place to see.

“So we need to shift our gaze off oil and focus on other aspects. Ecotourism is a good sector to invent in. Our tourist sites must be developed and made appealing for people to travel down to see. There are so many beautiful sites in Nigeria, but unfortunately the government is not doing enough to draw attention to those sites, and even the existing ones are not well maintained. There are quite a number of indigenous animals here that people would travel down to Nigeria to see. So if we can invest in our wildlife, there is a lot to gain from it,” she said.

Dr Morenikeji also noted that the issue of security is also of utmost importance, as no one would want to come down to a place where he or she would likely be kidnapped.

“So the issue of ecotourism is hydra-headed. So many things must be

put in place for the sector to thrive,” she added.

In the same vein, Director General, Nigerian Conservation Foundation (NCF), Mr Adeniyi Karunwi, opined that the sustainability aspect of our national parks is very low.

“The fact basically is that government is not interested in ecotourism. It has focused so much on the oil sector and as such, every other thing has been neglected. Many African countries today rely basically on ecotourism. Ghana, South Africa, Kenya and the likes for instance, derives a lot of revenue from ecotourism; they have lots of national parks that are well catered for.

“We have seven national parks in the country which unfortunately are not well maintained. So the question is can we really call them tourist attraction sites? Are they worth travelling down to see? How well are the visitors catered for? How safe are they? How good are the roads that lead there?

“These and many more are the issues that need to be addressed to have a sustainable ecotourism sector in the country.”

Besides the political will, a lot of issues still need to be addressed for ecotourism to thrive in Nigeria.

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An environmentalist, Mr Shola Adeleke is of the opinion that like many other sectors in Nigeria, fitting round pegs in square holes is a major setback for the growth of ecotourism in the country.

“Even if government invests in the sector, as long as those managing it are not fit for the position, it will not thrive.

Ecotourism goes beyond a beautiful site; it has to do with hospitality, and doing all you can to ensure that the people who visit want to stay.”

“A British friend of mine who is also an environmentalist once visited Nigeria and I took him to a waterfall in one of the states in the South West. Unfortunately, the young man who was supposedly the tour guide did not even attend to us. I tried to call his attention to something and all he said was we should move around and leave as we could see every other people doing. That was really embarrassing,” he lamented.

Adeleke therefore added that “There is need for better management, better implementation, monitoring and evaluation of our ecotourism sites. And government also needs to invest more in the sector and develop a more stringent set of standards and regulations regarding the practice of ecotourism.”

THE latest edition of The Top10 Magazine has released the list of the top ten international private investors in the Nigerian economy.

Topping the list are the Chagoury Brothers, Gilbert and Ronald of the Chagoury Group of companies, owners of the popular Eko hotels in Lagos and Eko Atlantic, a real estate company, Sunil Vaswani, Chairman of Stallion Group of companies.

Others are the Tung brothers, Lewis Tung and his brother Robert Tung, Chairman and Managing Director respectively of WEMPCO Group of companies, Haresh G. Aswani, the Country Managing Director of Tolaram Group of companies, the parent company of Dufil Prima, makers of the popular Indomie noodles among other investments, C.G. Vink, Chairman, Tropical General Investment (TGI) conglomerate, parent company of CHI Limited, producers of popular Chivita drinks, Ramesh Valechha, Chairman of Milan Group of companies, owners of the prestigious intercontinental hotel on Victoria Island Lagos and Haresh Keswani, the Chief Executive officer of Artee Group of companies, owners of SPAR Park n Shop, which operates in the hypermarket and supermarket retail format, operating in Nigeria’s three major cities of Lagos, Abuja and Port Harcourt.

In a release signed by the publishers of the magazine, it was stated that “unlike portfolio traders that play a game of hit and run, these investors have held firm in this country for many years unshaken by the vicissitudes of economic growth and declines.

“The role of these investors in the growth and development of the Nigerian economy is immense, being a major stimulatory force to the nation’s economic engine, hence our decision to beam special searchlight on their investment portfolios in the country and celebrate them as worthy partners in Nigeria’s quest for economy Eldorado.”

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Monday, 10 October, 2016

2017 FG budget assumptions unrealisable —Golu Timothy As Chairman of House of Representatives Committee on Legislative Budget and Research, Timothy Golu Timothy has the responsibility to first receive money bills submitted by the executive, scrutinize it, analyse it and then forward it to the Committee on Finance before it is finally transferred to the Committee on Appropriation.

In this interview with Sanya Adejokun, he takes a look at issues surrounding budgeting process, executive/legislative relationship and the way forward.

that is not under the federal constituency or a senatorial district so we see these things under different points of view.

There is no grammar that will change our own perception as to fair representation of our people.

And if you look at how budgets are actually made, it is the directors and permanent secretaries who are not elected that sit down to design the budget. Go to where the directors and permanent secretaries are then you will discover that most of the projects under the ministries are located in their places. They are not elected but they have more projects than the legislators. And people are telling the legislators to just do their work. Legislate and go.

How can we legislate and don’t know what whether the product of the legislation is impacting on the society? And if it is impacting, then charity begins at home. The light that will shine the farthest must be brighter at its base. You go back home and people as you: This man has a lot of water project but it is not him that attracted them but the director who is from the area. Some constituencies have more than enough projects while others do not have at all.

So we must be involved as we are the best people that know the problems of Nigerians.

W

HAT is your attitude to President Buhari’s quest for emergency powers to deal with current recession?

Let me start by asking what the emergency bills are because as soon as we read about it in the media, members of the national assembly started consultations but the Presidency denied it the very next day. They said they were not planning to bring any such bills. So, let the man come up with the bills. There is no bill that is treated in secrecy. All bills are treated in plenary before the media and the whole world before it would get to the level of public hearing where professionals and stakeholders can contribute to it. In this case, we only keep talking about it. You cannot shave somebody in his absence, according to late Chief M K O Abiola. So what are the emergency bills the President is talking about? What extra powers does he require from the National Assembly?

Let it not be a blind thing, let Nigerians also know so they can discuss it. A situation where no bills have been presented to us but everybody keeps speculating about it is raising unnecessary tension in the polity.

Besides, you talk about procurement process and others. Is it that we don’t have procurement laws? If there are aspects of it that are injurious to contemporary situations, then all that is required is amendment. We have been amending a lot of bills here. So, it is not about a new bill: The Procurement Act is there, the Fiscal Responsibility Act is there, the anti-corruption laws are there that established ICPC and EFCC. All the relevant that controls economic activities are all there. So if the laws are delinquent or are limited in addressing contemporary issues then we will talk about bringing amendments and the National Assembly is always ready to amend any such laws.

Is there then the needed cordial relationship between the executive and legislative arms of government in Nigeria?

I will say politically yes. But fundamentally, no because cordial relationship that exists only when you meet at party levels or at political levels. The fact is that whether you are APC or PDP, you are forced to relate at certain levels whether the person is Speaker or Senate President and you don’t like him, you are forced to relate; whether the other person is President of the nation or a minister but you don’t like him, you are forced to relate. This is the political aspect that I am talking about. But fundamentally, because the executive really does not have a full understanding of the National Assembly. That is how the executive behaves at all levels.

Golu Timothy For them, the legislative process is too slow. Even those who were in the legislature once they get into the executive, they seize to be legislative conscious. The new colour overwhelms them. To avoid governmental accidents, the law provides distinctions among the arms of government so that the legislature will make the laws, the executive will implement, legislature will oversight and judiciary will adjudicate.

However, the problem has been with the executive. They tend to equate policies with legislations. For policies to be lasting, to be sustainable, they must be backed by law so that they will have the confidence, authority and legitimacy they needed.

That way, even when the next person that takes over from you is not ready to continue along that path, he will be forced by circumstances. That is why we have a lot of abandoned projects, abandoned policies, abandoned ideas and so on because there is no law backing them.

If the executive will humble itself and take their time to understand that the legislature is the critical; it is not just an arm of government but the symbol of democracy. Without the legislature, there is no democracy.

The problem has been with the executive. They tend to equate policies with legislations. For policies to be lasting, to be sustainable, they must be backed by law so that they will have the confidence, authority and legitimacy they needed.

Look at what is happening today. For a number of years, the executive in Nigeria has not involved the legislature in the budgeting process. It is even worse at the state and local government levels. In the state, the governor may give just 24-hour notice that he is going to present his budget and that is all. Here at least we have a Medium Term Expenditure Framework (MTEF) that is submitted to us even if it is to fulfil all righteousness because all they do with MTEF is just to fulfil righteousness.

Even the MTEF should be prepare in collaboration with the legislature because it will eventually be submitted to us. The executive should be humble enough to involve us. We have better ideas than the executive. They can oversight us as see our own weaknesses and we can also see their own. Even before the preparation of the MTEF, there should be a sectoral MTEF; sectoral stocktaking or analysis.

Take the agricultural sector for instance.

The minister should invite all stakeholders and discus what the challenges are. We want to diversify: how do we go about it? What are the individual ideas?

From those who are farmers you ask what their challenges are; how lucrative is the business? Then you present the report of such sectoral analysis to the ministry.

The ministry will then prepare the MTEF. And knowing that it will eventually go to the legislature, involve legislators so that you get their own inputs because when you come here, you then discover that we have the final power to remove and add.

Then you will be asking what caused the removal. We remove because we have our own perception.

If you bring projects that do not meet requirements of Federal Character, we will tell you look: this road is good but you cannot put it in a particular area again it must go to another region because those other people lack roads too especially because of the limited funds involved. If we have all the funds, everywhere should have roads but because we don’t have enough, let us put the road there. We are representatives of the people. There is no town or village

So this is why budget processes have always been rancorous?

Exactly. That is, it!

But was the legislature not involved in the formulation of 2017-2019 MTEF just submitted to the National Assembly?

We were not involved in the preparation of the MTEF. Just as it happened during preparation of 2016 budget, it is happening again. They would invite stakeholders and even invite foreigners but nobody has invited any legislator either from the Senate or House of Representatives for consultations and at the end of the day, they are coming here. So what is the problem?

Why is it so difficult for them to involve the legislature? It will remove conflict, it will promote understanding, we will argue it there on the table, agree and then put it together. But when you bring in something that we were not part of its preparation and since we are not rubber stamp and the Constitution gives us power to approve the budget in a manner we deem fit. If somebody knows that we wield such enormous powers, the person should take us into consideration. If you see a policemen standing in your way, you must befriend him. Not in terms of bribery but in a way to show him that you are aware that he is powerful.

The executive ought to approach the legislature in a manner that says: I want us to see this thing together. Is it feasible to achieve a N6.9 trillion budget? We would have told them it is not feasible. What are the sources of financing? We have a committee on Legislative Budget and Research which does the analysis and then hand it over to the committee on Finance.

The Committee on Finance sits and analyse the projections, whether it is realistic to obtain half of that money from the sale of 2.2 million barrels of crude a day at $38/barrel. And the 2.2 million barrels per day projection has been halved due to activities of militants. And wishes are not horses otherwise, we would have wished for 5 million barrels’ production per day.

As it is now, the crises in the Niger Delta continues pg23

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Monday, 10 October, 2016

‘Nigerians expect us to provide jobs, water, but...’ have created some crises. There is a stipulation that the President should brief us about the performance of the previous budget, the MTEF and Fiscal Strategy Paper (FSP) but that has not happened.

Now, some members are insisting that we cannot take on the MTEF until we get the performance of the 2016 Budget. They are only talking about a journey: where are you coming from? Have we achieved what we planned to achieve? To what extent have you achieved it? What are the challenges so that we can avoid the same pitfalls next time?

The executive is really making our work difficult and Nigerians need to understand that these are the issues that we always raise but the executive would prefer not to tell Nigerians what the issues at stake are so that all the blames will go to the legislature. Now they are accusing us of refusing to give powers to the President but what power is he looking for? Let him tell us the power first then we can also present it to Nigerians. And when things go on like this, the legislature will be skeptical of the motives of the executive.

This year, we allow members of the executive to sit with us in passing the budget. It was simply for political reasons. It was not supposed to happen. Remember the first time the President rejected the budget, we asked him what he really wanted. If we had not done that, the country would have accused us of not wanting the President to work but no member of the public queried the reason we allowed the executive to take over our work. If we had tampered with their own work, it would have been something else.

continued from pg22

will not allow that. Why are they pretending not to know that there is crisis in the region, which is affecting production? That it will just vamoose like that? Throughout the tenure of late President Yar’Adua and President Jonathan and even since President Obasanjo’s time, the crisis has been there. Is that what you are wishing away in one year? The budget is for a period of 12 months and so what magic will you use to settle the crisis especially when the economy has not been diversified? You want to diversify to agriculture, to solid minerals, to science and technology but that is yet to crystalise.

Meanwhile the total budget of N6.6 trillion has only 1% dedicated to agriculture, which you claim you want to diversify to; 1% to solid minerals which is more lucrative than even the oil sector because the minerals and agricultural sectors have more potentials than petroleum. You don’t need the type of technology that required for the oil sector to develop agriculture.

If past governments failed because of lack of planning and lack of right policies and then you came in promising change, then it means that you must adopt a realistic change mechanism so that you don’t follow the path of failure. But they are not just following, they are even performing worse than past governments. Look at the level at which Obasanjo, Yar’Adua and Jonathan developed agriculture. They gave more attention to agriculture than this government. And we are talking about diversification.

I really do not know the mindset of this government.

Look at Saudi Arabia. As rich as they are, they sold part of their shares in a particular national asset. That is not because they were broke but because they wanted to develop and diversify into another sector because the more diverse your economy is, the more alternative you have because if there is a problem in a particular sector, others will stand in. Look at Israel, they don’t have anything.

Theirs is a knowledge economy. Tourism is not a natural resource; you organise it. Look at it, they have Science & Tech and sell technology out. They are a desert, they don’t have oil and yet they are surrounded by oil producing countries. For me, this economic recession is good for our country. I sympathise with the problems were are passing through but it is forcing us to think.

Let the Federal Government think outside the box. Let us assume as if there is no oil, that we are starting afresh.

So let us think of what to do. All the sectors are the same.

As it is now, we don’t know what will happen. In this year’s MTEF, they base the price of oil on an assumption of $42.22/barrel. What is the evidence that things will improve within this short period because we are supposed to have been treating the budget if not for the delay in bringing it? Even if the price goes up, what about the volume?

Again the exchange rate. They peg exchange rate basis for 2017 budget at N290/US$. Right now it is about N305/US$. What monetary policies has the central bank put in place to achieve this? In essence, are the sources of income realistic enough to accommodate a N6.6 trillion appropriations for 2017? The committee on Finance will do the analysis to determine if the budget could be funded before it will pass it to the committee on Appropriation foe allocation. If you have N30 billion to fund a project and you are appropriating N100 billion. When the time comes, and you discover that you have only N30 billion in your account, have you done justice to yourself?

That kind of thing also encourages corruption. The Minister of Finance told us here that unfortunately that she had no apology over selective implementation of budget.

How did you get the criterial to select project? You said there are no funds. Yes, you don’t have the funds because you over budgeted. You are used to surplus budgeting.

You know that is what they used to do. Because there was money, they prepare budget in surplus and at the end of the year, they even remit surplus. At the state level, it is deficit budget that they prepare and so they do not have the advantage.

At the end of the day, you project a revenue of over N1 trillion from recovered loot! How can you buy monkey when it is still on the tree? You have to catch the monkey first before you put a price tag. And so, the 2017 budget projection is not realistic. The executive should carry the legislature along because two good heads are better than one. We have committees and they are not for nothing.

What happens in the committees is more than what hap-

Golu Timothy

Most Nigerians are angry with us because they are expecting what we cannot deliver from us... jobs, roads, water and all that but it is what the executive are supposed to provide.

pens at plenary? Why wont the Ministry of Budget and Planning relate with the various committees of the National Assembly?

We are in the process of setting up our own ministry of budget known as the National Assembly Budget and Research Office. It will serve as a think Tank for us. It will be staffed by professionals of all kinds to give us timely analysis and projections. Now, we are working on 20172019 MTEF. How would you rate the implementation of 2016 budget so far?

The implementation so far is not satisfactory. It is slow.

It is slow for reasons that we don’t know. They said that there are no funds but they have not given us any briefing since the passage of the document. Each time the Finance minister comes here, she parries questions. Maybe she is being political, she does not want to offend her bosses or if she does not have answers to the questions. We want to really know what is happening. We are in a recession but what is the extent of the recession? Let us know what is happening.

Look at Treasury Single Account (TSA) again. They warehouse money in TSA but to access the money is a problem. And if money is not flowing, there are worms which are monetary in nature that are capable of further devaluing the currency.

As long as the executive is not cooperating with the legislature in such a way that we can put our heads together, this kind of rivalry will continue to affect the economy.

But there is a clause in the budget mandating regular briefing on budget execution?

They are not obeying the law! Let me tell you: MTEF is supposed to have been presented today but when I checked the Order Paper it was not included. It would

Why do you think that the public is more skeptical of the legislature than the executive?

It is because Nigerians do not understand the role of the legislature. The legislature is a political institution but that is not the same knowledge that people at the grassroots have. They hardly see members of the executive.

They only see members of the legislature at the federal, state and local levels and so attention has always been on the legislative arm so any small mistake is ever so visible and obvious.

Most Nigerians are angry with us because they are expecting what we cannot deliver from us. We are expected to provide jobs, roads, water and all that but it is what the executive are supposed to provide. However, because the executive doesn’t do it, the legislators are forced to do it because we are closer to the people. If the executive has been alive to their responsibilities, we would not have been insisting on constituency projects. We have to force our way into what will impress the people.

Or is it because they believe that you guys have too much money?

Where is the money? In fact, the National Assembly is underfunded in Nigeria. We are one of the least funded in the world. That is why the budget will continue to have this kind of problem because we are expected to have the same structure with technical expertise and platform with which we can oversight and verify the estimate submitted by the President. If the President proposes Lagos to Calabar rail line and they bring a bill of N5 billion, using their technical expertise, we are upposed to have the expertise to verify. That is checks and balance but we don’t have.

The total capital, overhead and personnel of the National Assembly is N115 billion. This money is not shared among the 360 members and 109 senators but for the entire National Assembly. It is from there that National Assembly members get their salaries, their running costs, the directors get their salaries, get their running costs, the National Assembly management, National Assembly Service Commission, National Institute for Legislative Studies, our own aides (and we have five each), Inter-Parliamentary Friendship groups… For Democracy to thrive, we must relate with other democracies, upgrade ourselves. I belong to the Nigeria-Israeli Parliamentary Friendship Group …We have to go there, and they have to come here too. Now we cannot go because there is no money.

There is no money even to do public hearing. On every issue, we are supposed to do public hearing. The idea of Public Hearing is for the public to be involved. To let them know what we are doing. There is no Public Hearing that will gulp less than N2 million and it will certainly be much more if we are to beam it live on television.

24

Monday, 10 October, 2016 NIFEX as @ October 6, 2016

CBN Rates as at 10/6/2016 Currency US DOLLAR POUNDS STERLING EURO SWISS FRANC YEN CFA WAUA YUAN/RENMINBI RIYAL SDR

Buying 304 384.9552 340.024 310.5844 2.9318 0.5009 423.2069 45.5442 81.0235 391.44

Central (NGN) 304.5 385.5884 340.5833 311.0952 2.9366 0.5109 423.9029 45.6196 81.1567 392.139

Selling (NGN) 305 386.2215 341.1425 311.606 2.9415 0.5209 424.599 45.6949 81.29 392.838

Tenor

Rate (%)

Change (%)

Spot($/N)

322.1250

0.35

NIBOR as @ October 6, 2016 Tenor

Rate (%)

Change (%)

O/N

8.9465

-5.55

1M

17.1896

-0.22

3M

18.1410

-0.44

6M

19.6778

0.06

NITTY Tenor

Rate (%)

Change (%)

1M

16.4901

-1.96

2M

16.8370

-1.81

3M

16.8736

-1.91

6M

18.6920

-0.74

9M

20.7858

-0.07

12M

22.1072

-0.17

with Chima Nwokoji m:08032637535 e:chimatitus@yahoo.com

Badloanrisestoamountpaidtoclean bankingindustry’sbalancesheet

W

ITH Non-performing loans (NPLs) in the banking industry rising to N1.679 trillion at end-June 2016, most industry watchers are seriously worried that the amount is approximately equal to N1.7trillion paid by the Assets Management Corporation (AMCON) clean their balance sheet and save the entire industry from collapse.

This is even as a top banker from one of the new generation banks who did not want his name in print expressed concern that the zero interest loan facility approval by the International Monetary Fund (IMF) for low income countries facing financial challenges, is bugged with difficult conditionality

which Nigeria will not be willing to subject its citizens to at this time.

He said the multilateral agency will be pressing for further devaluation of the Naira and fuel price hike which the government may not be willing to accept as a result of the social implication of further devaluation and another hike in fuel prices.

Managing Director, IMF, Ms Christine Lagarde over the weekend said that the board of the multilateral institution has approved a zero interest loan facility for concessionary loans for member countries facing financial challenges.

She said it’s important for low-income countries to be able to actually absorb the shocks without necessarily going to the

international markets or relying on bilateral lending capacity of close to a trillion dollars by extending access to bilateral borrowing agreements. The new agreements that are being signed this week will run at least through the end of 2019, and will continue to serve as a third line of defense.

Meanwhile, going by the report, titled Financial Stability Report’, the most recent, which covered first half of this year, Loans that borrowers have stopped paying bac k(NPLs) in the period under review grew by 158 per cent from N649.63 billion at endDecember 2015, to N1.679 trillion at end-June 2016.

According to the CBN, the industry wide NPL ratio rose to 11.7 per cent in

June from 5.3 per cent in December 2015, exceeding the prudential limit of 5.0 per cent.

Incidentally, the non -performing loans that AMCON purchased were worth N3.3 trillion and the bad bank paid N1.7 trillion for the loans. It Managing Director, Ahmed Kuru in a recent interview said the corporation later on, gave financial accommodation which is the money that AMCON paid N2.2 trillion to bring the net asset, value of some of the challenged financial institutions to zero.

The N1.7 trillion that “we paid for the assets of N3.3 trillion is part of our assets, different kinds of assets, while the N2.2 trillion is not backed by any asset,” Kuru had said.

Stanbic IBTC renews support for made in Nigeria products AS the country refocuses its attention on local production, Stanbic IBTC, a member of Standard Bank Group, has restated its support for efforts aimed at promoting Nigeria-made products.

The new focus area, according to the organization, aligns with its pledge to support critical sectors of the economy through financing and advisory services pivotal to unlocking the country’s economic potential.

Chief Executive, Stanbic IBTC Bank, Mr Yinka Sanni said there is no better time than now to seek home-grown solutions as the country currently grapples with economic challenges. Mr Sanni was speaking against the backdrop of the 22nd Nigeria Economic Summit, which will be focusing on the promotion of ‘Made-in-Nigeria’ products.

Despite being Africa’s foremost economic power, Mr Sanni noted that Nigeria has been largely import-dependent, a situation that has particularly stalled local manufactur-

ing capacity, apart from consistently piling pressure on foreign exchange reserves. With a very large internal market, demand for locally-made products should be able to spur growth of local manufacturing and processing across different sectors of the economy, he stated.

Stanbic IBTC, Mr Sanni said, will continue to develop solutions, products and services to support individuals and businesses, which will ultimately move the country forward in its socio-economic trajectory.

“As a developmental partner, Stanbic IBTC will continue to take the lead in supporting the growth of critical sectors of the Nigerian economy.

Being an African institution, our long-term goal is inextricably tied to the growth and development of Nigeria and the African continent in general,” he added.

The 22nd Nigerian Economic Summit is scheduled to hold in Abuja from October 10 to 12 at the Transcorp

Hilton Hotel, with experts and resource persons from both the public and private sectors brainstorming on how to refocus the Nigeria economy to attain its full potential.

Stanbic IBTC Holdings PLC, is a full service financial services group with a clear focus on three main business pillars - Corporate and Investment Banking, Personal and Business Banking and Wealth Management.

Standard Bank Group, to which Stanbic IBTC Holdings belongs, is the largest African bank by assets.

It is rooted in Africa with strategic representation in 20 countries on the African continent. Standard Bank has been in operation for over 153 years and is focused on building first-class, on-the-ground financial services institutions in chosen countries in Africa; and connecting selected emerging markets to Africa by applying sector expertise, particularly in natural resources, power and infrastructure.

Nigerian Tribune

Money Market Review MONEY market rates trended downwards last week as aggregate system liquidity opened at surplus of N20.4billion on Tuesday. Open Buy Back (OBB) and Over Night (O/N) rates dropped to single digits for the first time in four weeks on Thursday closing at 7.8 performances and 8.3 performances respectively as system liquidity was buoyed by treasury (T)-bills maturity worth N129.7 billion.

However, OBB and O/N inched 7.9 per cent points higher apiece to close the week at 15.7 per cent and 16.2 per cent respectively on Friday as the Apex bank mopped up a total of N283.1billion from the system in an Open Market Operation (OMO) auction. As such, OBB and O/N lending rates rose 1.3 per cent and 1 per cent week on week (W-o-W.) An investment banking group and dealing member of the Nigerian Stock Exchange, afrinvest West Africa Limited said in a note that performance in the treasury bills market were mixed but average T-bills rate trended southwards on most trading sessions. On Tuesday it added, average T-bills rate rose eight basis points (bps) to close at 17.7 per cent.

This was however reversed on Wednesday as average T-bills rate declined 0.7 per cent to close at 17 per cent amidst expectation of a lower stop rate at the Primary Market Auction (PMA) held on the same day. The Apex Bank auctioned N28 billion of 91-day, N33.5 billion of 182-day and N68.2 billion of 364-day instruments at stop rates of 13.9 per cent, 17.1 per cent and 18.3 per cent respectively.

Much in line with market expectations, the average marginal rate at the auction was 11bps lower than the September auction. Also, the auction was oversubscribed by 2.4 xs with net subscription amounting to N311.9billion against net offered amount of N129.7 billion. Average T-bills rate closed the week at 17.3per cent on Friday, up 3.2 per cent W-o-W. Foreign Exchange Market Despite the liquidity crunch which continued to strain performance in the currency market, interbank rate appreciated 1.6 per cent W-o-W to N306.75/$1 from N311.62/$1 on Friday last week. On the first trading day of the week, the Naira/Dollar exchange rate crashed to N320.31/$1 on Tuesday from N311.62/$1 in the previous session.

However, the naira/dollar exchange rate appreciated to N310.24/$1 by midweek and N306.71/$1 on Thursday on the back of the daily interventions by the Central Bank where about $1.5million was sold.

Similarly, parallel market rate appreciated 0.4 per cent W-o-W closing the week at N473.00/US$1.00 against N475.00/$1 in the previous Friday. Contrary to penultimate week when Naira/Dollar exchange rate surged, the exchange rate at the parallel market rate hovered between N473/$1 and N476/$1 during the week amidst speculations of dollar sales to Bureau-De-Change (BDC) operators

by Travelex before the end of the week.

According to Afrinvest, in the futures market, the current total value of the open contracts of the Naira settled OTC futures for the 12 instruments on the calendar stood at $3.5 billion as at Thursday, 6th October, with the APR 26 2017 being the most subscribed at a value of $794.4 million. This was trailed by the JUL 21 2017 instrument, currently trading at N255.5/$1.

“In the week ahead, we expect the sale of dollars to the BDCs by Travelex to improve dollar liquidity at the unregulated segment of the FX market. Nevertheless, we do not expect significant appreciation in rate,” stated Afrinvest.

Bond Market Review and Outlook The local bond market was largely quiet, but sentiments were mixed across tenors as investor interest was majorly skewed towards the short end of the sovereign yield curve during the week. Accordingly, average yield across benchmark bonds closed flat W-o-W settling at 15 per cent on Friday. Average yield rose 3bps at the end of the first trading session of the week closing at 15 per cent on sell offs predominantly in long dated instruments. Buy sentiment, however tepid, filtered into the market towards the end of the week as average yield across benchmark bonds dipped 1bp on Thursday to close at 14.9 per cent before settling at 15 per cent on Friday.

On the flip side, average yield on the South African, Nigerian and Zambian sovereign Eurobonds rose 16bps, 13bps and 3bps respectively. Nonetheless, the Zambian 2024 Eurobond currently commands the highest Year-to-Date (YTD) return at 23.2per cent whilst the South African 2017 recorded the most declines amongst the sovereign Eurobonds, with a Year to Year (YTD) loss of 4 per cent.

In the Nigerian corporate Eurobonds market, sell sentiment persisted on the Fidelity 2018 and Diamond 2019 instruments during the week as yields rose 1.1per cent and 64bps W-o-W respectively. Contrarily, investors hunted for bargain in the FBN 2020 and 2021 instruments as yields on both instruments dropped 3.6 per cent and 1.8 per cent W-o-W respectively.

25

moneymarket

Monday, 10 October, 2016

Nigerian Tribune

Expected N120.0bn bond auction, liquidity mop up to push rates upwards

T

HERE are expectations that a scheduled bonds auction of about N120.0billion and the Central Bank of Nigeria’s (CBN’s) regular mop-up of excess liquidity in the system will push money market rates northwards.

Nigeria’s central bank has sold about 283 billion naira ($877.11 million) worth of treasury bills to mop up liquidity, driving up interbank lending rates, traders said on Friday.

“We expect the market to open in the negative next week, given the volume of OMO bills sold, while the interbank lending rate is seen within the 18-20 percent range,” one dealer said.

Dealers at Afrinvest West Africa Limited also added their voice, stressing ,“in the week ahead, we expect money market rates to trend northwards as the CBN continue to mop-up excess liquidity in the system in addition to a scheduled bonds auction of about N120.0bn by the DMO next Wednesday.

Also, “we expect activity level at the local bonds market to be broadly driven by primary market auction by the Debt Management Office (DMO) scheduled for next Wednesday.”

The DMO is to auction between N90.0 billion – N120.0 billion of the JULY 2021, JAN 2026 and MAR 2036 bonds at the Monthly Primary Market Auction (PMA), where dealers said they expect the auction to be oversubscribed in line with recent DMO PMAs. Other dealers from Cowry Assets Management Limited, in a note to investors stated that the outflow from FGN Bond auction of N105 billion will be partially offset by maturing OMO-301-day bills worth N23.684 billion. This week, the Debt Management Officewill issue Federal Government bonds worth 105 billion, viz:5-year, 14.50% FGNJUL 2021 paper worth N35 billion, 10-year, 12.50 per cent FGN JAN 2026 bond worth N35 billion and 20 year, 12.40 per cent FGNMAR 2036 debt worth N35 billion.

In September, the central bank sold

Open Market Operations (OMO) bills to soak up about 1.2 trillion naira, in a bid to curb speculation against the currency and

BRIDGING the gap between existing infrastructure and what is needed to set Nigeria and other developing countries, particularly in Africa, on the path of meaningful development, requires the mobilisation of 1.5 trillion dollars.

This was the submission on Thursday evening of a panel of five experts at the ongoing annual meetings of the International Monetary Fund (IMF) and the World Bank in Washington D.C., United States.

The panel, which was assembled to discuss one of the sub-themes of the meetings, Great Expectations: The Test of Multilateralism, identified areas in critical need of attention to include electricity provision, access to the Internet, health and education, industrialisation, among others.

A member of the panel and World Bank Managing Director, Shaoling Yang, revealed that 1.2 billion people are without electricity in developing countries, just as 4 billion people globally, representing 60 per cent of world population, don’t have access to the Internet.

tight to attract foreign currency and resolve a chronic dollar shortage brought on by a slump in oil prices.

From left, Minister of Finance, Mrs Kemi Adeosun; a Professor of Economics and public policy, Oxford University, UK, Professor Paul Collier; and chair, World Economic Fourim’s Global Financial System Initiative, Anders Borg, during a panel discussion organised by the International Monetary Fund (IMF), at the sideline of the World Bank/IMF general meeting with the theme: “Towards better infrastructure in developing countries, in Washington DC on Wednesday. PHOTO: NAN

Heritage Bank’s CEO bags outstanding achiever in banking industry award MANAGING Director/Chief Executive of Heritage Bank Plc, Mr Ifie Sekibo has been conferred with “Outstanding Achiever in the banking industry” award at the Applause Achievers Awards 2016 organized by the Salvation Crusaders Media.

The Applause Achievers Awards and Talent Empowerment is the second edition of the Applause Achievers Awards which was

$1.5tr needed to fund infrastructure gap in developing countries —World Bank panelists Dare Adekanmbi -Washington DC

shore up fixed income yields to attract investors.

The bank said it will keep interest rates

Yang lamented that multilateral agencies like the World Bank, IMF and others only have the capacity to mobilise 10 per cent of the required funds.

He emphasised the need for global solutions to the problems of funding gap in infrastructure development and the need to build a safety net to protect poor people in developing countries and around the world.

Another panelist, Ray Offenheiser, lamented the “radical disconnect” between the political class in developing countries the people they govern.

He said the massive social disruptions caused by the disconnect was alarming and challenged the theoretical foundations of development theories.

He called for concerted effort in addressing the issue of “premature de-industrialisation” in Africa and the running of an inclusive development agenda.

According to him, the population explosion in Africa is not being matched with comparable industrial growth and job opportunities.

All the panelists agreed on the need to retool the Brentwood Institutions and make them fit for purpose in the 21st century.

first held on April 11, 2015.

The event according to a statement from the lender was organized to recognize select individuals from different walks of life and to encourage their commendable commitment to bringing positive change into the society.

Mr Sekibo said the event was remarkable for two reasons: Firstly, “as we are celebrating the 56th Independence of our great country Nigeria, we all know the challenging times our nation is facing and this period calls for a reigniting of our entrepreneurial spirit towards moving our nation forward to its rightful place. Therefore, any event that will recognize achievers and empower entrepreneurs will be most appropriate.

“Secondly, the talent empowerment aspect of this also aligns with the strategic drive of Heritage Bank to support the growth agenda of the CBN/government especially for the youth of this country.”

Mr Sekibo who was represented by Mrs. Ori Ogba, Divisional Head, Retail/Small and Medium Enterprises (SME) of the bank said Heritage Bank is a generational Nigerian bank with an excellent service culture hinged on working with each customer to create a name and heritage for today and for future generations with the ideals of Service, Performance, Respect, Integrity, Innovation, Tenacity and Excellence forming its core values.

He added that Heritage Bank from inception decided to do business differently, noting that its paradigm is that it is a service organization in the business of banking, a development which drives overall vision to create, grow and transfer wealth across generations.

“This places us squarely in the path to developing, nurturing and rewarding talents.

We believe in every individual and indeed organization leaving a footprint; a legacy in whatever sphere you find yourself,” Mr. Sekibo remarks, adding that this requires tenacity, discipline, integrity, innovation, excellence and the passion to succeed.

He said that with staggering population numbers, “our vision to serve and empower found an expression on the children, youths and small and medium scale businesses, where growth is needed desperately.”

Over the years he added, “we have deliberately focused on our SME segment towards co-creating fresh set of vibrant entrepreneurs that will create jobs and distribute wealth in our economy.”

Earlier in his address of welcome, Pastor David Atoloye, outlined the vision of the awards, remarking “Our campaign towards having a better world through positive contribution is vigorous and that through sustainable alliance with bodies, organizations, individuals and the government, the second edition of the Applause Awards is bigger and better.

He said the 2016 edition has seen such change that has gone beyond the initial mission, adding that as the name Applause Achievers Awards and Talent Empowerment implies, they are determined to expand their reach beyond the initial scope but also take a step further to mentoring and empowering individuals with prospects to create a wealth of people with resources.

“Our conception is futuristic and realizable through financial seeds into selected individuals with potentials. With dreams experiencing reality, we can only say the sky is the starting point. And that this is the beginning of greater things to come,” Atoloye said.

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Monday, 10 October, 2016

Nigerian Tribune

Non-Interest capital market: CBN approves guidelines for granting liquid assets THE Central Bank of Nigeria (CBN) has approved the guidelines that the gives non -interest capital market liquidity status thus boosting it’s products.

The Securities and Exchange Commission (SEC) over the weekend gave the notice to issuers and investors on the ‘Guidelines for Granting Liquid Asset Status to Sukuk Instruments Issued by State Governments.’

This is a major milestone for Nigeria as it will catalyze the development of non-interest capital market products.

According to a statement by the Management of the SEC, the release of these guide-

lines follow diligent advocacy efforts from the Capital Market Committee (CMC) on the need to grant liquidity status to Sukuk in order to bolster its appeal as a product for both issuers and investors alike.

Sukuk, the non-interest equivalent of bonds, is becoming increasingly attractive as a capital market instrument across the globe. Annual Sukuk issuances around the world have grown from $15 billion in 2008 to over $150 billion in 2015. As the Federal and State governments seek alternative funding sources for infrastructure, these new guidelines will make Sukuk one more

available option.

In 2013, the SEC had issued Rules on Sukuk Issuance in Nigeria following which the State Government of Osun raised N11 billion in Nigeria’s first Sukuk issuance which was oversubscribed. Since then, several State Governments have been exploring issuing Sukuk to raise funds for infrastructure financing and other much needed public interventions. However, the absence of a liquid secondary market had been a key concern for investors like pension funds and other institutional investors. To address this constraint, the Capital

Market Master Plan had highlighted the need to push for liquidity status for Sukuk.

In implementing the Master Plan, the SEC and the capital market community closely engaged the CBN to develop and release guidelines for this purpose.

With these new guidelines, Sukuk instruments issued by State governments can be discounted at CBN discount windows and can be applied by banks in their liquidity ratio computation, similar to conventional State bonds. This will facilitate the emergence of a vibrant secondary market that will encourage more issuances from state governments.

Asset bubbles: Looking out for the red flags

By Oluyomi Okin

Oscar N. Onyema, OON, Chief Executive Officer, NSE, left and Paul Thomas Arkwright, British High Commissioner to Nigeria, at the Closing Gong Ceremony at the Exchange.

Recession: NSE to get expertise from London counterpart Stories by Kehinde Akinseinde-Jayeoba

T

HE Nigerian Stock market has been assured of expertise collaboration from its London counterpart, London Stock Exchange (LSE).

The British High Commission to Nigeria, Mr Paul Arkwright, gave the assurance during his visit to the Nigerian Stock Exchange (NSE) to perform the ceremonial sounding of the gong to close trading activities on the floor of the Exchange.

Mr Arkwright, while noting that the Nigerian capital market had been a vibrant one, he assured that the country would in the near future turn a new corner from the present economic upheaval it has find itself.

The High Commissioner said to this end, the United Kingdom would ensure that it makes available its expertise to Nigeria to enable it recover from its present recession, adding that part of his duty in the country was to ensure

that more British companies are encouraged to list on the stock market as well as help build a stable economy.

Thomas Arkwrite who described the Nigeria Stock Market as a vibrant market notwithstanding the economic downturn, explained that the stock mirrors the entire economy, adding the stock market remains a sure place for Nigeria and the international companies to raise capital.

“There is a strong partnership between the Nigerian Stock Exchange and the London Stock Exchange. Part of my duty here is to encourage British companies to come and list their shares.

I know we are looking at the time of economic difficulty in Nigeria. I know the market reflect the economic situation here. But am confident that in the immediate to medium, perhaps in the shortterm, Nigeria will turn the corner, and the economy will pickup, employment will pick-up and inflation will come down.

“The United Kingdom is a will-

ing partner to Nigeria. We have a strong and healthy Stock Exchange in London, and there is the expertise that can be shared here with the Nigerian Stock Exchange. That is part of job to find how we can corporate economically,” he added.

Speaking on how soon British companies will be seen coming to have their shares listed on the local course, the British High Commissioner however reiterated that “Nigeria has a way to go, you know Nigeria is still low on the index of doing business with. British companies need to have confidence that they can take their returns. But am optimistic that British companies will come here, and Nigeria being able to turn the corner.

The Chief Executive Officer of the NSE, Mr Oscar Onyema while welcoming the British High Commissioner, reiterated the zero tolerance of the equities market, noting that the stock market is a veritable place to leverage on interms of cheap finance.

ASSET bubbles are not a new phenomenon in the financial markets though they have become more popular in the last two decades due to the significant market crashes of 2000 (Dot-com crash) and 2007 (Sub-prime mortgage induced crash). The first asset bubbles in the history of financial markets date as far back as the 17th century with the “Tipper and See-Saw Time” and “Tulip Mania” bubbles in 1621 and 1637 respectively.

According to the Federal Reserve Board of San Francisco, an asset (price) bubble describes a situation in which an asset price has risen above the level justified by economic fundamentals, as measured by the discounted stream of expected future cash flows that will accrue to the owner of the asset.

This results in over-inflated asset prices fuelled by excess and persistent demand for assets as investment vehicles.

Unfortunately, bubbles do not last forever, and are typically followed by busts, more commonly described as market crashes. Indeed, the bubble bust cycle makes for two possible outcomes – an exponential growth in wealth of investors, or a devastating erosion of capital leaving investors frustrated.

It is therefore important for investors to be able to identify the warning signs of asset bubbles in order to avoid being caught on the wrong side of the tide. This is even more important for investors who do not have an overly strong appetite for risk.

Consequently, we highlight below, some of the most evident signs of asset (price) bubbles.

Excessive valuations This is probably the clearest sign of a bubble in the stock and property markets. A scenario in which the price of stocks or real estate is rising steeply while the underlying profits of companies or rental income on real estate is not rising as

much (or even falling), will result in high valuation multiples on the assets. These multiples are not “justified”, and therefore suggest that a correction may be on the horizon.

High investment leverage A persistent rise in debt-financed investments in the stock market (i.e. margin positions) will typically fuel the amount of liquidity in the market, hence the tendency for stock prices to be pushed up faster than the growth in the underlying profits of companies due to the stronger demand. Therefore, investors should be weary when they begin to see a rising trend in debt/ market capitalization ratio.

Aggressive appetite for new issues Although an increase in primary market activities is normally associated with a rising market that is supported by strong fundamentals, a glut of new issues, whether debt or equity, definitely calls for caution. Additional red flags in this area will include a significant reduction in the time-to-market of new issues, as well as a general over-subscription of new issues in the market regardless of the difference in quality. While the former reduces the amount of time an investor has to evaluate the new issue in order to make an informed investment decision, the latter is an indication of excess liquidity in the market which beclouds optimal resource allocation decision-making.

Pricey deals The tone of the market for corporate transactions (mergers and acquisitions) could also give some sense as to whether a bubble is being fuelled. A cycle in which companies are generally exuberant in spending in the corporate market, and are willing to break the bank to acquire desired targets, is suggestive of a bubble situation.

Oluyomi is the Portfolio Manager, FBN Capital Asset Management

27

Monday, 10 October, 2016

Nigerian Tribune

‘Advertising industry in Nigeria must steer clear of isolationism’ THE Group Managing Director of Noah’s Ark, Mr Lanre Adisa, has stressed the need for practitioners in the nation’s advertising industry to expand their scope by seeking out like-minded practitioners around the world that would enable them raise their game and further deepen industry standards.

Speaking at the signing of a partnership agreement between Noah’s Ark Communications and Dentsu Aegis Network (DAN),

in Lagos, recently, Mr Adisa stated that it had become necessary for agencies, practising within the shores of the country, to begin to look for other global agencies, whose partnership would enable them attain the vision for which such local agencies were set up.

He explained that the decision of Noah’s Ark to go into affiliation with DAN, a top global holding company in the advertising world, was informed by the need to further

BRANDS &

widen its horizon and entrench the young creative agency in the global advertising space.

Adisa stated that the affiliation would see Noah’s Ark being the creative partner to Media Fuse Dentsu Aegis Network (MFDAN), consisting of the global agency, DAN and its local media affiliate, the Media Fuse.

He explained that the agency had been

able to achieve milestones, since it was set up eight years ago, one of which was being the first agency in the country and West African sub-region to be featured in the renowned Lurzer’s Archive, in 2012.

He, however, expressed the belief that the agency’s partnership with DAN, would go a long way in enhancing the global status of the agency and help Dan establish its presence in the local advertising space.

with Akin Adewakun

MARK TING m:08054683584 e:akadewakun@yahoo.co.uk

StarTimes, Beijing Movies Board launch 2016 Chinese movies in Nigeria

From left, Group Vice President StarTimes, Guo Ziqi; Cultural Counsellor of Chinese Embassy in Nigeria, Yan Ziangdong and the representative of the Permanent Secretary, Ministry of Information and Culture, Peter Dama, at the unveiling of the 2016 Chinese Movies and Drama Series in Abuja recently.

DIGITAL TV Network operator, StarTimes has announced the launch of the annual broadcasting season and promotion of Chinese movies, drama series and cultural fiesta in Nigeria.

The launch, which is in collaboration with the Beijing Municipal Bureau of Press and Publication, the digital TV network explains, is designed to foster inter-cultural promotion between Africans and Chinese, while showcasing the best of Chinese movies and drama series for Nigerian lovers of Chinese entertainment and culture.

Describing Nigeria as a home to the largest subscribers of StarTimes, the Global Vice President of StarTimes, Ms Guo Ziqi, ex-

Recession: Expert proffers survival strategies for brands Stories By Akin Adewakun

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marketing communications practitioner, Mrs Iquo Ukoh, has advised brand custodians and managers on the need to change their orientation and begin to think like enterpreneurs to enable them effectively engage consumers at this period of economic downturns.

Speaking at the National Institute of marketing of Nigeria (NIMN) Fellows Awards and Dinner in Lagos recently, the former Marketing Services Director, Nestle Nigeria, noted that the need to engage the consumers more than ever before, had become imperative for any brand survival; since today’s consumers are becoming increasingly influential in the marketing mix.

She stated that since the disposable incomes of the average Nigerian consumer today had continued to dwindle as a result of the economic recession, it had become imperative on brand managers to creatively come up with strategies that would push his stocks into the market and ensure acceptance.

She argued that the social media had become a platform where

brand owners could effectively engage the consumers, noting that any marketing strategy that failed to accommodate such platform, might not enhance the growth of the brand, describing the population of consumers on the social media platform as too huge for any serious brand to ignore.

“It is no longer about the number of likes, but the how well the consumers can be engaged through this platform. The problem is that some brand managers are not versed in this area, and as a result, are not too keen in delving into this area. But the problem is that any organization that fails to embrace this risks being left behind at the end of the day,” she argued.

She also believes that since brands are in a competition, the brand managers must be able to come up with strong, captivating and convincing messages, highlighting the benefits of their services or products to the market such brands intend to reach.

She also noted that since the average Nigerian consumer is no longer ready to engage in frivolous purchases, due to shrinking purchasing power, brand managers must come up samplings and

activations that would enable consumers experience the products or services before making their purchase.

While congratulating the newly-inducted fellows of the institute on the awards, she charged them on the need to give back to the institute and the profession, noting that there is so much intellectual

laziness within the profession.

While congratulations the 18 newly-inducted fellows of the institute, the president of the institute, Aare Ganiyu Koledoye, described the qualities and track records of the inductees as an attestation to the huge prospects the institute holds for marketing practice in Nigeria.

pressed the belief that the move will further strengthen the ties between Nigeria and China.

Speaking at the ceremony, Deputy Director of Beijing Municipal Bureau, Ms. Yang Peili, said that, “the launch of the Beijing TV Dramas and Movies Broadcasting Season in African countries aims to bring more Chinese stories into Africa and promote the cooperation in film and TV industry between the two countries.”

StarTimes Nigeria Head of PR, Mr Israel Bolaji, remarked that the annual ceremony showcases the highlights of the best and new Chinese movies and drama series for Nigerian fans.

Dignitaries at the launch include officials from the Nigerian Ministry of Information and Culture, Nigerian Broadcasting Commission (NBC), Nigeria Television Authority (NTA), StarTimes International Group, the Beijing Municipal Bureau of Press and Publication and the Chinese Embassy in Nigeria.

Some of the selected movies and top-notch Chinese drama series are: Chasing after the Love, Woman from the Family of Swordsman, Mazu, Go Away Mr Tumour, Finding Mr Right, Beijing Love Story and Back in Time.

Gotv to embark on 5 states tour to commemorate anniversary PAY tv service provider, GOtv has announced plans to hold huge consumer engagements in five cities of the country, in commemoration of its five years of opening its doors for business in Nigeria.

The tour, which holds between October 8 and November this year, would see the brand visit Port Harcourt, Ibadan, Enugu, Abuja and Lagos.

Disclosing this, recently in Lagos, while intimating the media on the 5th anniversary celebrations plans of the tv platform, the Managing Director, Multichoice, Mr John Ugbe, stated that besides further bonding the brand with its teeming subscribers,

the event tagged GOtv Customers Funfair, would also serve as an avenue to reward the brand’s customers for their loyalty.

He stated that teeming customers of the brand would be treated to music, dance and comedy, with GOtv brand ambassador, Daddy Showkey and Nigerian artist, Oritsefemi being the lead acts at the fairs.

Besides, he explained, subscribers of the pay tv channel, who had been active in the past three months, would have that opportunity to enjoy a free onemonth subscription for their patronage of the brand.

He described the brand’s journey in the past five years in Ni-

geria, as ‘memorable,’ noting that the company had been able to meet the relaxation needs of Nigerians through quality programming and innovations.

Ugbe added that subscribers in cities to be visited would also have the opportunity of having some of the issues arising from the usage of the pay tv service platform resolved, through designated Gotv clinics that would be established there.

“To also commemorate GOtv at five, we have rewarded close to 200,000 subscribers who stayed continuously connected from 18 July to 30 September with one month complimentary viewing this October,” he added.

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Monday, 10 October, 2016

Towards ensuring judicious utilisation of health budgets As legislature at both federal and state assemblies brace up to receive and process 2017 budget estimates from the executive, participants at a training workshop for senior civil servants in Kuru brainstorm on the need to allocate adequate funds for health while also urging proper utilisation of available resources. SANYA ADEJOKUN reports.

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APITAL expenditure for the health sector decreased from N557 billion in 2015 to N28.7 billion in the 2016 budget. The recurrent expenditure for Health in 2016 is made up of personnel (N217.5 billion); overhead (N3.9 billion), giving a total of N221.4 billion which is less than the figure for 2015 that stood at N237.08 billion.

In all, the N250,062,891,075, which is the total 2016 allocation as the health budget out of the total estimate of N6.08 trillion budget of the FG represents a meagre 3.66% of the budget. This is lower than the total 2015 health budget which had 5.78% of the total budget. The summary is that, over the years the FG has been committing only about 4-6% of its budget to health.

Stakeholders generally view consistent allocation to health over the years as inadequate to achieve the desired goal of ensuring the wellbeing of Nigerians.

The health budget for 2016 is far below the agreed 15 per cent “Abuja Declaration” reached upon in a meeting of heads of state of Organisation of African Unity (OAU) countries hosted by Nigeria in 2001. That declares that “we commit ourselves to take all necessary measures to ensure that all needed resources are made available from all sources and that they are efficiently utilised.

“In addition, we pledge to set a target of allocating 15 per cent of our annual budget to the improvement of the health sector.”

This was a pledge to prioritise the development of the health sector.

In a paper titled: An Overview of Federal Government of Nigeria’s 2016 Health Budget, Directorate of Research at National Institute of Policy and Strategic Studies, Kuru, Kyauta B. Tanyigna said comparison has been made with other countries of which about 33 per cent of them have allocated up to 10 per cent of their budget to health, other countries like Rwanda, Swaziland, Ethiopia, Malawi, the Central African Republic and Togo have since kept to the promise of the “Abuja Declaration” by allocating 15 per cent of their budgets to health.

The aim of the Abuja declaration was that in keeping to the promise, it will increase the amount of resources to be spent on health and if spent efficiently, could improve access to quality health services and save lives.

Participants at a Training Fellowship for Senior Public Servants in Health Policy and Financing jointly organised by National Institute for Policy and Strategic Studies (NIPPS) and Partnership for Advocacy in Child and Family Health (PACFAH) which held between October 4 and 7, 2016 in Kuru brainstormed on how health would be able to attract the needed attention in budgets of both federal and sub-national governments in 2017.

In the keynote address on Budgeting for Health in the Era of Economic Downturn and Recession: The Experience of Ghana delivered by Dr Lydia Dsane-Selby who stood in for Chief Executive of Ghana National Health Insurance Authority, it was revealed that contrary to the Nigerian

situation where 70 percent of spending on health care needs is met from out-ofpocket, health insurance takes care of 70 percent in Ghana.

“We have been having discussions. We have heard from a lot of experts talk to us about the experience about how to identify alternative sources of funding beyond out of pocket expenditure to fund health in Nigeria,” she said.

While it was agreed that governments ought to allocate more funds to the health sector, there was the need to also ensure proper and efficient utilisation of what is available.

Acting Director General of NIPPS, Jonathan M. Juma, cited the example of a state

The health budget for 2016 is far below the agreed 15 per cent “Abuja Declaration” reached upon in a meeting of heads of state of Organisation of African Unity (OAU) countries hosted by Nigeria in 2001.

Nigerian Tribune

in the north east with only one available MRI scanning machine servicing three or four states even though government officials in this and the other states ride dozens of SUVs. He urged participants not to push responsibilities to political leaders alone.

“Participants must be courageous when they get back to their stations and give priorities to items that will benefit the larger society. Rather than buy SUVs, it may be better to buy MRI scanning machines.”

National Team Leader of PACFaH, Dr Judith-Ann Walker noted that participants have shown “willingness to grapple with new ideas, I have observed willingness to engage with civil society organisations, but distance in the way we think about things.

“I have observed a system that is partially open to input from civil society in the way we meet needs of the people because budgets cannot only be developed in isolation in offices, they have to have a basis, common denominator. And that denominator should be from the people, from communities, from understanding felt needs.

“We brought them here to Kuru and we had these discussions. May be what we needed to do also was to go to communities to feel the real sense and the real pulse of how people are affected.”

Walker explained that after the NIPPS workshop, PACFaH, would also collaborate with National Institute of Legislative studies to organise retreats for the legislature.

“If we don’t treat health fairly, all out efforts at creating employment, building infrastructure, improving agriculture and other sectors will amount to nothing because health I at the bedrock, the foundation and right now in Nigeria, out of pocket expenditure on health is about 70 percent for households. It is not like that in other countries. In Ghana, it is 30 percent. We are paying for health but there could be a more efficient way of funding personal health needs.”

Ifueko Omoigui Okauru, Dr David Olayemi, Director Advocacy & Campaign of Save the Children, Asishana Okauru who is Director General of the Governors’ Forum all also spoke on the need for transparency and accountability in the management of available resources.

Olayemi said “I am actually looking beyond health. I don’t want it to look like budgeting for health. If the principles guiding budget processes do not change, health cannot be taken in isolation. It is about everything.

The situation is even worse at the state level.

Interestingly when we talk about budget processes, we focus on the federal level but doing so will continue to be erroneous.

“About 50 per cent of federation money goes to sub-national levels. Social services are supposed to reach the people from states and local governments. We must do a lot of analysis of how budgets are made and expended at the state level.”

On her part, Ifueko Okauru said Nigerians should look beyond government in funding the health sector.

“Funding the health sector must not be restricted to government sources alone. It has worked in other places and even here when you have individuals donated buildings to schools and hospitals. It is just to grow and expand the idea here too.

“Fundamentally, we as people must have a belief. If we don’t have that belief, everything we are saying here will amount to nothing. We must believe that there is no problem that cannot be solved.

“We must move from a complaint mode to that of influencing our own environment. We do not have to wait for others to do it for us,” she noted.

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south-westnews

Monday, 10 October, 2016

Olojo: Ooni commences 7-day seclusion, unveils ‘Ade Are’ Oluwole Ige - Osogbo

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GAINST the backdrop of this year’s Olojo Festival, the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, on Sunday evening moved into Iledi,

a secluded area, where he is expected to spend seven days.

Olojo festival, an annual traditional event, would come to a climax on Sunday, October 16, 2016.

Historically, Olojo festival is a major annual event

in Ile Ife, set aside to commemorate the creation of the universe and the week long event will climax with wearing of Are Crown, a special crown worn once annually by Ooni and the symbolic walk from Ile Oodua, Ooni’s palace, to

Oke Mogun.

Nigerian Tribune investigation on Sunday evening indicated that the road leading to Ooni’s palace from Moore was closed to traffic as Oba Ogunwusi moved into Iledi, his first port of call when he started

the rites for installation as Ooni last year November.

While explaining details of what the royal father will be doing during his seclusion, the Director of Media and Public Affairs to Ooni, Comrade Moses Olafare, observed that “Oba Ogunwusi is celebrating his first Olojo as Ooni and as such, he is leaving no stone unturned to make the festival a memorable one.”

He said Ooni will, during the seclusion, pray for the country and leadership at all levels.

Nigerian Tribune

“Ooni Ogunwusi will also spend time praying for Yoruba race and her people. He will also seek support of ancestors for peace and progress of Ile Ife and its people. His duty during the period basically is to pray,” Olafare said.

However, before the monarch began his seclusion, he earlier unveiled replica of “Are” crown mounted at Enuwa junction and implored Nigerians to seek peace and ensure they coexist in peace wherever they find themselves.

12 major streets on VI, Ikoyi cleaned up —Tunji Bello

Oyo State governor, Senator Abiola Ajimobi (right); Imo State governor, Mr Rochas Okorocha (second right); Oyo State Commissioner for Lands, Housing, Survey and Urban Development, Mr Ajiboye Omodewu (left) and others during a visit to the permanent site of the proposed Oyo State Technical University and proposed site for the Rochas Okorocha Foundation, on Lagos-Ibadan Expressway, Ibadan, on Friday.

ASUU flays Ajimobi over plan to stop subventions to tertiary institutions We never denied Supreme Court judgment on LAUTECH —Oyo Attorney-General’s office

By Laolu Harolds THE Ibadan Zone of the Academic Staff Union of Universities (ASUU) has described the decision by the Oyo State government to stop subventions to its tertiary institutions as a betrayal of the people of the state.

Ibadan zone of ASUU comprises University of Ibadan; Ladoke Akintola University, Ogbomoso; University of Ilorin, Kwara State University, Malete (both in Kwara State), and the Osun State University, Osogbo.

In a statement made available to the Nigerian Tribune in Ibadan, on Thursday, by the Zonal Coordinator of the union, Dr Ade Adejumo, the union said the policy might compel those institutions to impose higher fees on students in their desperation to survive.

“Our union is opposed to such surreptitious fee increase as it has the potential to take education beyond the reach of brilliant but poor Nigerian children,” it stated.

It advised Governor Abiola Ajimobi to drop the idea of outright stoppage or drastic reduction in subventions, as it portends danger to the development of the educational fortunes of the state.

“It is a betrayal of the electorates whose aspiration of

giving their children quality education stands to be frustrated,” Adejumo said.

He then called on men and women of goodwill in the state to prevail on the governor to “retreat from this path to the final destruction of educational legacy of Oyo State.”

“If this (policy) is not challenged, other governors in other parts of the country will start borrowing this bad leaf from Oyo State.”

Meanwhile, the Office of the Attorney-General of Oyo State has taken strong exception to a publication in the Nigerian Tribune of Thursday, September 29, 2016, in which the state’s Attorney-General, Mr Oluseun Abimbola, was reported to have denied a Supreme Court judgment against the takeover of the Ladoke Akintola University of Technology, Ogbomoso, by the Oyo State government.

In the publication, a spokesperson to the Chairman, Osun State House of Assembly Committee on Education, Honourable Folorunso Bamisayemi, was credited with remarks “accusing some elements within Oyo State government of allegedly encouraging criminality and also condemned the denial by the Oyo State AttorneyGeneral of an existing court verdict against the takeover

bid.”

But a letter signed by the Solicitor-General and Permanent Secretary, Ministry of Justice, Prince A. W. Gbadegesin, said that at no time did the attorney-general make such statement in any quarter, either in Oyo State or elsewhere.

It also viewed the reference to officials of the state government, and particularly the attorney-general, as “some elements” as demeaning and disrespectful of their offices.”

In another development, the National Financial Secretary of the LAUTECH

Alumni Association, Mr Babalola O. J., has also faulted a report in the Nigerian Tribune in which he was said to have co-signed a document with the National Financial President of the association, Mr Jide Bewaji.

Babalola maintained that he could not have co-signed the document, because his duties, according to the constitution of the association, do not include secretariat work.

The Chairman of the LAUTECH ASUU, Dr Biodun Olaniran, also said he was misrepresented as the union president.

THE Chairman of the Special Committee on Clean-Up of Ikoyi, Victoria Island and Lekki, Mr Tunji Bello, on Sunday, said the progressing exercise has already cleaned up seven major streets in Victoria Island and five in Ikoyi.

The chairman, who spoke with newsmen after an unscheduled visit to some of the areas being cleaned-up on Ahmadu Bello Way and Ozumba Mbadiwe, said the committee has decided to take the clean up exercise in the listed streets in batches to ensure sustainability and effectiveness.

Mr Bello was joined by other members of the CLEAN-Up exercise, including the sole administrators of Iru-Victoria Island and Ikoyi-Obalende LCDA, Princess Aderemi Adebowale and Mr Felix OnaOlawale, officials of the Task Force on Special Offences and members of VIIRA on the inspection.

He listed the streets already cleaned–up in VI to include Water Corporation Drive, Ahmadu Bello Way, Adetokunboh Ademola, Bishop Aboyade Cole Street, Ajose Adeogun, Ligali Ayor-

Show love to kinsmen, RCCG pastor charges Nigerians in Diaspora

By Oluwatoyin Malik

THE Zonal Pastor of the Redeemed Christian Church of God Jubilee House for All Nations, Romford, United Kingdom, Pastor (Mrs) Omoyele Modupeola Afolabi, has appealed to Nigerians abroad to go to their villages in Nigeria to show love to their people, as it is of no use blaming the government for everything.

Pastor Afolabi stated this last weekend when she hosted the physically challenged, widows and people with special needs at the Hall of Grace, Jogor Centre, Ibadan, where she also distributed items, in-

cluding pepper grinding machines, rice, Ankara materials, to those who attended.

The pastor, who is also the Chairperson of Jubilee House Empowerment Foundation, said that she decided to reach out to people in Nigeria, “to put smile on their faces, even if it is just for that day.”

She pointed out that for some of the children who attended from different homes and orphanages, the programme might be their outing for the whole of the year, adding: “We decided to host them in an environment where they would feel happy and comfortable and loved. This is all about the

love of Jesus which we are sharing.”

“I just feel that there is no point complaining about what is not going right at home. It is good for those out there (abroad) to come like this and drop their little to make the lives of the less privileged better,” she added.

She disclosed that she had been doling out gifts to the needy for the past six years, with about 100 pepper grinding machines given out to empower widows, saying that the programme had also been held in Lagos and Kaduna states about six times, with another one to hold in London in December.

inde Street, Ozumba Mbadiwe while those already touched in Ikoyi are Awolowo Road, Falomo Roundabout, Kingsway Road, Glover Road and Bourdillon Road.

He explained that the committee has ensured that for each of the areas where street traders were dislodged or shanties demolished, operatives of KAI were positioned to ensure that such people or recalcitrant traders do not return.

Tunji Bello added that for setbacks where horticulturists harbouring street traders, such as the ones at Awolowo Road and Ajose Adeogun Street were operating, they have been dislodged; with the men of the State Parks and Gardens Agency on ground to secure such areas for greening.

“On Ahmadu Bello Way, where we have a lot of infractions such as illegal parking by tricycles and conversion of median walkways to parking space and setbacks by yellow taxis, car hire services, companies without parking lots, all such vehicles which were not removed after due notices, have been towed away to ensure free flow of traffic.”

“Even on the same Ahmadu Bello Way, all those who have turned the road to a major depot for charcoal have been removed and the spaces secured with motorised KAI patrol vehicles.”

“At the Eko Atlantic City end of Ahmadu Bello Way, which has been taken over by miscreants and undesirable elements that masquerades as religious worshippers, who sleep and defecate on the stretch of the fence, have all been taken away and the area cleaned up through combined operations by men of the state Task Force on Environmental and Special Offences, the Waste Management Authority (LAWMA) and Environmental Health Officers of Iru-Victoria Island LCDA,” he stated.

30 news Violation: Kaduna orders arrest, prosecution of Shi’ite spokesman Muhammad Sabiu - Kaduna

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ADUNA State government has ordered the arrest and prosecution of one Ibrahim Musa, who has owned up to be the spokesperson of an unlawful society, the Islamic Movement in Nigeria (IMN), also known as the Shi’ite.

An order declaring IMN as an unlawful society in the state, came into effect on Friday, October7, It was gathered that violators of the order attracts penalty of imprisonment for seven years or a fine or both, according to sections 97a and 97b of the Penal Code.

However, a few hours after the commencement of the order, the said Musa admitted to be a member of the

unlawful society and identified himself as its spokesman in widely publicised statements.

‘This is deemed as a deliberate and determined affront to the order and the law has to take its course, said a Government House statement issued in Kaduna, on Sunday.

The statement said that the state Commissioner of Police had been directed to ensure the arrest to enable prompt prosecution by the state Attorney- General and Commissioner for Justice.

‘All security agencies in the state have been directed to enforce the law and demonstrate clear resolve by arresting the said Musa, who is further advised to report himself to the nearest police station or any of the security agencies.

‘Government cannot al-

low the laws of the state to be tested and confronted by any one or group, who might have the belief that they are above the law.

‘The Kaduna State government wishes to reiterate that it respects freedom of religion and other rights as guaranteed by Sections 38 and 40 of the 1999 Constitution. The same constitution imposes an obligation on government to secure the state and protect every citizen against infringement of their rights by others.

‘Drawing on powers vested by Section 45(1) of the constitution, and Section 97a of the Penal Code, the governor signed an order declaring IMN as an unlawful society in the interest of public order and to protect the rights and freedoms of all persons in Kaduna State.

Monday, 10 October, 2016

THE RCCG JUBILEE HOUSE EMPOWERMENT FOUNDATION, UK, DURING A PROGRAMME HELD FOR WIDOWS AND PEOPLE WITH SPECIAL NEEDS IN IBADAN, OYO STATE

Pastor Omoyele Modupeola Afolabi (second right) and a friend (right) handing gifts to beneficiaries.

FG proscribes Benin PTA over protest, illegal charges Clement Idoko - Abuja

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HE Federal government has proscribed the Parents Teachers Association (PTA) of the Federal Government Girls College (FGGC) Benin, Edo State, with immediate effect.

Minister of Education, Malam Adamu Adamu, in Abuja, on Sunday, said government took the decision to curtail the acts of gross misconduct, lawlessness and outright usurpation of Federal Govern-

ment powers by officials of the association.

He also directed all principals and administrators of federal unity colleges not to have anything whatsoever to do with the National Association of Parent Teachers Associations of Federal Government Colleges (NAPTAFGC), an umbrella body of PTA of unity colleges.

Adamu said it was a disturbing trend that the socalled national PTA body had no other source of funding other than taxing parents outrageous and il-

We did not sack 9,000 workers —Kaduna govt Muhammad Sabiu - Kaduna

KADUNA State government has dispelled the insinuation made by the Nigeria Labour Congress (NLC) that it dismissed 9,000 workers after the verification exercise carried out by the government.

The Director- General of the State Bureau of Public Service Reforms, Alhaji Bashir Muhammad, said this while speaking with newsmen in Kaduna, at the weekend.

‘When we came on board, we were faced with dwindling revenue as well as short fall in our statutory allocations. The first step we took was staff verification.

According to him, the verification was not smooth, as there were challenges, nonetheless, we devised other means to ensure that it was successful.

At the end of the exercise, he said 9,000 workers still need to be scrutinised, adding that, the governor then, directed the Head of Service (HoS), to write to the affected civil servants and advised

them to write directly to the state governor.

‘The governor’s magnamity was due to the desire to ensure that non of the affected staff were cheated. He even said he will be involved in the screening exercise.

legal charges, adding that this had placed unnecessary financial burden on parents of students in federal unity schools across the country.

The minister was angry that the Edo State PTA had, prior to the resumption of schools for the 2016/2017 academic session, generated its own school fees different from the fees approved by the Federal Government and circulated same to parents of students of FGGC Benin, with an instruction that the parents should pay only what had been approved by the PTA. “Not only did Benin PTA generate rival bills to that of the government, the association also physically mobilised parents on the day of resumption and disrupted activities while insisting on the use of their own bills,” a statement by the deputy director, Press, Ministry of Education, Mr Ben Goong said.

Pastor Afolabi dancing with some children with special needs.

Some of the beneficiaries of pepper grinding machines with Pastor Afolabi (middle) and Deacon Timothy Olatunde (second right).

Pastor Afolabi cutting a cake with some of the widows and people with special needs.

Pastor Afolabi (right) presenting a gift to another widow.

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Monday, 10 October, 2016

BURIAL CEREMONY OF LATE PRINCESS (CHIEF) GRACE BOLANLE BAYODE, HELD ON FRIDAY, OCTOBER 7, 2016 IN IBADAN

From left, Mr Egarton, Mr Pius, Olenka, Buki, Philip and Pa Jimmy Bayode during the requiem mass at St Joseph Catholic Church, Oke Ado, Ibadan on 7th September, 2016.

From left, Mr Philip, Mr Egarton, Mr Pius, Pa Jimmy and a family member at the event.

Chief Akin Oke (third right) flanked by members of the deceased family.

One of the sons and relatives of late Omo-Oba Grace Bolanle Bayode.

Mrs Olenka (left) and family members of the deceased.

The remains of Princess Grace Bayode being lowered into the grave.

The remains of Princess Grace Bayode being taken to the grave.

One of the deceased sisters performing the final rite.

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politicsnews

Monday, 10 October, 2016

Nigerian Tribune

I never collapsed my structure to support Oke —Abraham Hakeem Gbadamosi - Akure

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HE runners up in the All Progressives Congress (APC) primaries in Ondo State, Dr Olusegun Abraham, on Sunday, denied collapsing his struc-

ture in the party to support the governorship aspiration of the candidate of the Alliance for Democracy (AD), Chief Olusola Oke. Abraham, who stated this in a statement by his media aide, Sayo Aluko, described

the rumour as “blatantly false and which “lacks commonsense and credibility.”

He specifically declared that he remained a member of the APC in the state and vowed not to defect to

any other party or give support to a member of another party.

He said: “Contrary to reports all over Ondo at the moment, I have not collapsed my structure for anybody, talk less someone

who is no longer a member of my party and someone who I am far popular than.”

He said further, “Even, anybody with a politically sound mind will know that such move has no iota of truth in it. My candidacy enjoys greater popularity and acceptance, both by valid delegates’ votes and by the show of massive public goodwill recently typified by the overwhelming solidarity rally staged by the people of Ondo for my candidacy on Tuesday, the 4th of October, 2016.

“So, how can I then undermine this much faith put in me, both politically and publicly, by collapsing my structure for a less popular individual? It doesn’t fit commonsense and surely lacks credibility.”

He called on his support-

ers in the party and the state to discard the rumour and urged them to remain resilient and focused on the quest to save the party from the brim of injustice and destruction by some leaders.

“I use this opportunity to reassure my teeming and esteemed supporters that our mandate is alive, and as long as we keep calling for justice to be done, we shall reclaim this mandate and bring practical governance to the benefit of the Ondo people and the pride of our great party.”

Abraham maintained to be resolute in his quest to reclaim his mandate, alleging that the election that produced the standardbearer of the party was fraught with irregularities, just as he lays claim on having the highest number of valid votes during the party’s primaries.

Jegede carpets Akeredolu, says ‘he is dazed by my popularity’ Edo State Governor-elect, Mr. Godwin Obaseki and Deputy Governor-elect, Honourable Philip Shaibu, on an 8-km road show in Benin City, after collecting their Certificates of Return from the Independent National Electoral Commission (INEC).

APC appoints seven-man committee to pick deputy gov candidate Hakeem Gbadamosi - Akure

THE All Progressives Congress (APC) has set machinery in motion to pick a deputy governorship candidate for the party in Ondo State.

The seven-man committee, which members are daughter of the first civilian governor of the state, Mrs Jumoke Anifowose (chairman), Dr Tunji Abayomi, Honourable Victor Adekanye Olabimtan, Dr Ayo Akinyelure, Mr Bankole Oluwajana, Dr Shaba and Mr Wale Akinterinwa, is to screen prospective deputy governorship candidates for the party.

Speaking on the development, the governorship candidate of the party, Mr Rotimi Akeredolu, disclosed that a search party has been constituted for the deputy governorship slot.

Akeredolu said the committee would soon come out with its recommendations to the party.

He said that the party had not decided on the running mate for him as a lot of variables would be considered, including the qualification, value to be added to the ticket and the zone the person comes from.

Akeredolu said: “on the issue of running mate, you wait for us and the party

will decide. We can assure you that by the end of next week, we will conclude the issue of deputy governor.”

It was gathered that at least 16 persons, including Honourable Agboola Ajayi, have indicated their interest out of the 16 candidates, 13 are from the South while the rest are from the Central district.

Some of APC members

who have shown interest in the slot included Honourable Sam Aderoboye, a former Deputy Speaker of the State House of Assembly, embattled Publicity Secretary of the APC, Omooba Abayomi Adesanya, Mr Lucky Ayedatiwa, the APC’s candidate for Ilaje/Eseodo Federal Constituency in the last general election and Mr Boye Adegbemisoye, a former

Chairman of Ile-Oluji/ Okeigbo Local Government and Commissioner for Public Utilities.

Also been considered are, Mr Ifedayo Abegunde, a former House of Representatives member representing Akure South and North Federal Constituency and Mr Ade Adetimehin, the Deputy Chairman of the party in the state.

Former Speaker, Victor Olabimtan, heads Akeredolu’s campaign organisation FORMER Speaker of the Ondo State House of Assembly, Honourable Victor Adekanye Olabimtan, has been appointed the Director General, Akeredolu Campaign Organisation.

Olabimtan, one of the 24 aspirants who battled for the governorship ticket at the All Progressives Congress (APC) primary, held on September 3, 2016, in Akure, is a former commissioner in the Federal Civil Service Commission.

His rising political profile started with his contributions as the secretary of the defunct Unity Party of Nigeria (UPN) Students’ Vanguard which brought him to limelight.

The appointment is with immediate effect and will

henceforth take charge of Akeredolu’s electioneering campaign activities.

According to a statement signed by Aketi Media Group, the campaign organisation also named the party chairman in the state, Dr Isaac Kekemeke and Senator Tayo Alasoadura as members of the Governor’s Council, the apex body of the organisation, which will be chaired by the governorship candidate.

Other members of the council included Senator Ayo Akinyelure, Alhaji Jamiu Ekungba, Dr Tunji Abayomi and Mr Boye Oyewunmi, all of whom were co-aspirants in the September 3 primary.

The statement also named Mr Ade Adetime-

hin as the chairman of the campaign organisation and secretary of the Governor’s Council.

THE Peoples Democratic Party (PDP) candidate in the November 26 gubernatorial poll in Ondo State, Mr Eyitayo Jegede, has carpeted his All Progressives Congress (APC) challenger, Mr Rotimi Akeredolu, for describing him as a stooge of incumbent Governor Olusegun Mimiko.

He said the APC candidate was just overwhelmed by the Eyilafe phenomenon vibrating across the state.

Reacting to the outburst in a statement by his media aide, Mr Kayode Fasua, in Akure, on Sunday, Jegede said the claim by Akeredolu “is face saving, designed to cover-up the polarisation his ticket had cost his crisis-ridden APC at both the state and national levels.”

Describing Akeredolu as an attention seeker who is threatened by the Eyilafe

phenomenon, Jegede remarked that the people of Ondo were too sophisticated for Akeredolu’s kind of pettiness and negative politics, insisting that the APC candidate should prepare for his imminent defeat at the poll.

According to Jegede, “it is ridiculous to say a man who has attained the peak of his career and unarguably the longest-serving head of Body of Benchers in the country, with a distinguished career in both private and public service, a stooge to anybody.”

He said Akeredolu’s description of his ambition as a third term agenda of Governor Mimiko only confirmed his fears and that of the APC’s looming failure in the coming election.

Jegede described Akerdolu as an outsider in the state who had no base, even in his home town.

AD youths reject Oke’s candidature Hakeem Gbadamosi - Akure

THE youth wing of the Alliance for Democracy (AD) in Ondo State, on Sunday, expressed its dissatisfaction over the candidacy of Chief Olusola Oke at the forthcoming governorship election in the state.

The youths, under the auspices of Ondo Alliance for Democracy Youth Vanguard (OADYV), stated this in a statement by their representatives Arowosafe Oladeji (North), Adenike Oluwadarasimi (South) and Ojo Oluseyi Taki (central).

According to them, Mr

Akin Olowokere remained the flag bearer of the party for the election.

The youths stated that they were not involved in the process that led to the replacement and substitution of Olowokere with Oke as the candidate of the party.

The youths vowed to use every legal means to prevent Oke from flying the flag of the AD in the election, saying the mandate was freely given to Olowokere by the party’s delegates.

They said: “It filtered to our hearing lately that our lawful mandate freely given to Dr Akin Olowokere has

been turned to a commodity and purportedly traded off to Chief Olusola Oke. “Considering the effect of this ignoble action on our party which is gradually picking its pieces together in our Sunshine state, we will, to the best of our ability and capacity, use all known legal means to thwart this unfortunate development brought about by the alleged buyer and seller.”

Oke defected from the All Progressives Party (APC) after coming third in the September 3 shadow election of the APC, which was won by Mr Rotimi Akeredolu.

33

politicsnews

Monday, 10 October, 2016

APC sweeps Ogun LG/LCDA poll Olayinka OlukoyaAbeokuta

T

HE All Progressives Congress (APC) has won all the 57 chairmanship and 346 councillorship seats in the just concluded elections into the 20 Local Government and 37 Local Council Development Areas (LCDA).

The Peoples Democratic Party (PDP) won a councillorship seat at Ona Otun, Igbogila Ward in Yewa South Local Government, while the Unity Party of Nigeria (UPN) secured two councillorship seats in Oke Odan ward in Ifesowapo LCDA and another at Omu ward in Leguru LCDA. Announcing the results of the election, the chairman of OGSIEC, Alhaja Risikat Ogunfemi, who spoke through the commissioner 111, Mr Mutiu Agboke, said the body had discharged the responsibility placed on it well.

The APC came first, while UPN came second and PDP third in the election that was contested for by 17 parties.

She said that the poll was conducted to in a free, fair

and peaceful manner, but acknowledged that there were reports of skirmishes in some areas.

Ogunfemi reiterated the commission is resolve to continue to be an unbaised umpire.

The chairman appreciated the people of the state in ensuring the success of the election, advising that

anyone that was not satisfied with the exercise to approach the Local Government Election Petition Tribunal that would be constituted by the authorities concerned.

“The call for cancellation of any electoral process is not unusual. The job of an umpire is not a Herculean task, no matter, any good

arrangements put in place.

“Election is a legal matter.

The commission has publicised the results which had been declared by our Electoral Officers at various LGs. The Election Petition Tribunal will be constituted by the authority concerned, at an appointed time and anyone that is aggrieved or has any issue

on the conduct of the election should seek redress before it.

“On our part, we have discharged a statutory responsibility placed on us, and we could say that the election was a credible one,” she emphasised The team leader, Body of Coalition of Observers in the state, Comrade Yin-

...S’West PDP kicks

Ogun State deputy governor, Chief Mrs. Yetunde Onanuga, casting her vote during the local government and LCDA election at Ward 9, Government Technical College, Ijebu Ode, on Saturday.

How Ondo APC governorship primary was won and lost Taiwo Adisa - Abuja

DETAILS emerged at the weekend that the National Working Committee (NWC) of the All Progressives Congress (APC) actually held three separate meetings before it finally arrived at the decision to uphold the result of the Ondo State governorship primary election, which returned Chief Rotimi Akeredolu (SAN), as winner.

The three meetings held on September 19, 20 and 22, had a majority of NWC members in attendance at each session.

While only two members, were absent at the first meeting, four officers were absent at the second sitting.

The same officials were absent at the third and final meeting, which upheld the result of Ondo primaries.

The Appeal Committee, comprised Mrs Helen Bendega as chairman, Alhaji Musa Umar, as secretary and Ms Nikky Ejezie, as member.

The committee had recommended that having “observed irregularities,” made five recommendations, including “the election result should be cancelled;” that a rerun election should be ordered immediately in order to beat INEC’s deadline,” among others.

Insiders in APC, however, told Nigerian Tribune that the meetings reviewed

ka Folarin, adjudged the election as peaceful and credible.

Folarin explained that the commission should improve on the success recorded in the election in subsequent ones.

Also, the Inter Party Advisory Council (IPAC) described the poll as transparent and all inclusive, saying that OGSIEC provided a level-playing field before, during and after the election.

The body condemned instances of snatching of ballot boxes and intimidation of voters but commend security agencies for not allowing the situation to degenerate.

the report of the threemember Appeal Committee of the Ondo primary, a Minority Report submitted as well as the report of a top party member.

While the report of two members of the Appeal Committee recommended the nullification of the primary, that of the third member of the Committee reportedly asked that the result be upheld.

The said top APC member also in a five-page report to the NWC, was said to have asked the party to uphold the primary on account of substantial compliance with the rules and regulations.

“Finally, the rule of election is that once there is substantial compliance, the election must be upheld,” a source alleged.

This much the Appeal Committee reportedly agreed with but it alleged suddenly somersaulted for reasons best known to it.”

The APC stalwart allegedly recommended “the rejection of the recommendations of the Appeal Committee and the dismissal of the petitions as same are lacking merit.”

Closely guarded minutes of the meetings of the NWC sighted by Nigerian Tribune, on Sunday, indicated that the NWC was initially sharply divided on the report of the Appeal Committee.

At one of the meetings,

records showed that some party chiefs advised that the APC field a “neutral candidate,” in view of the controversy already thrown up by the primary, while at the third meeting, records further showed that some of the party chiefs advised the adoption of a “dummy candidate,” in view of what was described as the need for “political solution,” as advised by a top functionary of the government.

Records, however, showed that the NWC, at its meeting of September 20, resolved to reject the report of the Appeal Committee on four grounds,

including its failure to invite the APC national secretariat to its sitting to corroborate the authentic delegates’ list; failure to invite the chairman of Ondo governorship Primary Election Committee and observed contradiction in it the committee’s report which used the figure of accredited delegates as number of voters.

The NWC also observed that the Appeal Committee contradicted itself by admitting that the primary substantially complied with the rules but still recommended its nullification.

Reports seen by Nigerian Tribune showed that there was drama on the final day of the meeting, as members were about casting their votes for either adoption or rejection of the report.

The report indicated that one of the national officers had to point the attention of the NWC to an earlier resolution of September 20, which had rejected the submission of the Appeal Committee.

At that stage, the meeting subsequently adjourned and Akeredolu’s name was ordered submitted to INEC.

Senate Rule Book forgery: I have forgiven my traducers —Ekweremadu Taiwo Adisa-Abuja

DEPUTY Senate President, Senator Ike Ekweremadu, said on Sunday that he had forgiven his traducers who put him up for trial in the alleged Senate Rule Book forgery suit.

Ekweremadu in a statement said that those behind his arraignment for a crime he never committed failed to consider the larger interest of the country above personal interest and feelings.

He admonished those in positions of authority to always adhere to their Oaths of Office and be just to all.

The statement from his media office indicated that he

told a crowd of his supporters in Enugu that time had vindicated him.

The statement read: “I clearly recall stating on that day, my great comfort in the immortal words of late Dr Nnamdi Azikiwe, that history will vindicate the just.

“Time has indeed vindicated the just and it is victory for democracy. My trust in God, the court, and the overwhelming solidarity of the good people of Nigeria is justified.

“As a Christian, I have forgiven all those behind this, for, ultimately, God is the driver of the destinies of men.

I believe that Nigeria has to

move on, but on the right path of justice and rule of law.

Going forward, we must learn to be just to all in accordance with our Oath of Office.”

The statement also quoted Ekweremadu as being full of appreciation for Nigerians who stood behind him and the other accused person throughout the trial.

He called on the government to “put politics behind and let us join hands in governance, especially now that our country is challenged on different fronts,” adding: “As leaders at this critical juncture of our history, we must work together in the best interest of our people.”

However the South West Executive Committee of PDP rejected the result of the poll.

It described the conduct of the poll by the Ogun State Independent Electoral Commission (OGISIEC) as “irresponsible and unacceptable.”

The party the election was marred with irregularities and violence masterminded allegedly by the ruling All Progressives Congress (APC).

The PDP claimed that the electoral body did not supply election materials and other logistics to some local governments, while there were reports of political thugs hijacking ballot boxes.

Consequently, the zonal secretary of the party, Reverend Bunmi Jenyo, called for the cancellation of the election based on reports of alleged electoral violence that characterised the exercise.

He said: “The election process was marred by the desperation of the ruling APC to rig in its favour, despite the party’s failure and rejection by the people across the length and breadth of Ogun State.

“The action of the APC was barbaric, primitive and ridiculous as it becomes clearer that PDP’s popularity scared them to resorting to violence which marred the entire process been completely.

“In clear terms, PDP is calling for the total cancellation of the election exercise for the following reasons, that election materials were not supplied in some local governments.”

“For instance, Ijebu Waterside, ballots boxes, papers and other electoral logistics were not provided

by OGSIEC,” he alleged.

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I formerly Miss Ajani Tolulope Mary now MRS ADEGOKE TOLULOPE MARY. All former documents remain valid. General public take note.

I, formerly Jinadu Olabode Femi now OLUWAFEMI OLABODE OLUWAFEMI. All former documents remain valid. General public take note.

I, formerly Miss Adeoye Olubanke Olaotan now MRS OLAWALE OLUBANKE OLAOTAN. All former documents remain valid.

General public take note.

I, formerly Oyewole Qamardeen Kehinde now OYEWOLE KEHINDE KAMORU. All former documents remain valid.

General public take note.

I, formerly Adeshina Dare now ADESHINA O L U WA D A M I L A R E TIMOTHY. All former documents remain valid.

General public take note.

I, Yusuff Waheed Idowu, my name was wrongly written as Yusuf Waheed Idowu. Henceforth, I wish to be known and addressed as YUSUFF WAHEED IDOWU. All documents bearing these names remain valid. General public take note.

I, formerly Miss Ishola Margaret Yetunde now MRS ISHOLA MARGARET YETUNDE OSHINEYE. All former documents remain valid. General public take note.

I, formerly Miss Bello Oluwabunmi Aina Ruth now MRS. ASHIRU OLUWABUNMI AINA BELLO. All former documents remain valid. General public take note.

I, formerly Miss Yusuf Afusat Omolola now MRS. ADEAGBO AFUSAT OMOLOLA. All former documents remain valid.

Authorities concerned and general public take note.

I, formerly Umar HaliMatu Sadiya now YUSUF HALIMA SADIYA. All former documents remain valid.

General public take note.

I, formerly Mrs Bolanle Fatimo Ologunsaba now Mrs. Bolanle Ajoke Olabosipo Ologunsaba. All former documents remain Valid.

General public take note

I, Bakare Oladunni Oluwatoyin am the same person bearing Oladunni Oluwatoyin Olawale. Henceforth, I wish to be known and addressed as Olawale Oladunni Oluwatoyin. All documents bearing these names remain valid.

Skye Bank Plc., Zenith Bank Plc., and general public take note.

I, formerly Miss Ojedapo Adebola Olawumi now Mrs Olawuyi Adebola Olawumi.

All former documents remain valid.

General public take note

I, formerly Miss Adetunji Oluremi Felicia now MRS OLAOYE O L U WA R E M I L E K U N FELICIA. All former documents remain valid.

General public take note.

I, formerly Hauwa Yakubu now HAUWA DANAZUMI. All former documents remain valid. UBA Plc and General public take note.

I, formerly Mrs Olaitan Joy Amanoshi now MRS ADESOMOJU JOY AMANOSHI. All former documents remain valid.

General public take note.

I, formerly Olaitan Adesanya Anthony now ADESOMOJU OLAITAN ADESANYA. All former documents remain valid. General public take note.

I, formerly Miss Akinmolujoye Bukola Bisi now MRS OLADIPO ABISOLA OLUWABUKOLA. All former documents remain valid.

General public take note.

I, formerly Alli Moromoke Mulikat now MRS. ADEFILA MOROMOKE MARY. All former documents remain valid. General public take note.

CHANGE OF NAME

CHANGE OF NAME I formerly Serifat Sina now KEHINDE DEBORAH. All former documents remain valid. General public take note.

I formerly Oladimeji Abdul Lateef Abiola now OLADIMEJI ABDUL LATEEF. All former documents remain valid.

General public take note.

CONFIRMATION OF NAME

I, Ajimuda Aderonke Felicia am the same person bearing Ajimuda Aderonke Afusat. Henceforth, I wish to be known and addressed as AJIMUDA ADERONKE FELICIA. All documents bearing these names remain valid. Skye Bank Plc, First Bank Plc, Eco Bank Plc and general public take note.

CHANGE OF NAME

CHANGE OF NAME

CHANGE OF NAME

CHANGE OF NAME

CHANGE OF NAME

I, formerly Miss Afolabi Olubukola Moyo now MRS. AREMU OLUBUKOLA MOYO. All former documents remain valid. General public take note.

CHANGE OF NAME

CORRECTION OF NAME

CHANGE OF NAME

CHANGE OF NAME

CHANGE OF NAME

CHANGE OF NAME

CHANGE OF NAME

CHANGE OF NAME

CHANGE OF NAME

CHANGE OF NAME

CHANGE OF NAME

CHANGE OF NAME

CONFIRMATION OF NAME

CHANGE OF NAME

CHANGE OF NAME

CONFIRMATION OF NAME

CHANGE OF NAME

CHANGE OF NAME

I, formerly Miss Adegbola Adenike Ayoni now MRS OYEBAMIJI ADENIKE AYONI. All former documents remain valid. General public take note.

CHANGE OF NAME

I, formerly Oladejo Rasheed Babatunde now SIJUADE MATHEW BANKOLE. All former documents remain valid. General public take note.

36

Monday, 10 October, 2016

Metro...

Nigerian Tribune

crime, security, court Cult members kill own leader, 19 others in Ogun Olalekan Olabulo - Lagos

The human heads found in loaves of bread

The suspects

Suspects hide human heads in bread Olalekan Olabulo - Lagos

T

he police in Lagos State have arrested two suspected ritualists with three human heads at Ipaja area of the state.

The image maker in charge of the state police command, Dolapo Badmos, confirmed the arrest to Metro.

The suspects, Jamiu (24) and Yemi (32) (other names withheld), had reportedly carefully tucked the crushed human heads in loaves of bread when they were intercepted by the police.

The two suspects were reportedly arrested by policemen around Church Bus Stop at Ipaja, while taking the human parts to their customers.

A police source told Metro that the suspects must have been taking the human parts to three dif-

ferent people based on the label found on each.

The police source, who pleaded anonymity, said “our men, who acted on a tip-off, stopped the suspects around Church Bus Stop with a bag containing about three loaves of bread

at about 8.00 p.m. last Saturday.

“Initially, they protested, asking why the police should search their loaves of bread, but what we found out was astonishing.”

The PPRO, while confirming the arrest, disclosed that

Lagos Task Force saves man from jumping into well As it bulldozes illegal shanties in Lekki Bola Badmus - Lagos

The Lagos State Task Force on Environmental Sanitation, on Sunday averted a suicide attempt by one Sunday, who allegedly wanted to jump into an open well, as bulldozers of the agency mowed down illegal shanties at White Sand, Jakande Estate, on Lekki-Beach Road, Lekki-Epe Expressway.

The shanties were considered to be one of the most

dreadful criminal/hoodlum hideouts.

More than 2,500 illegal shanties constructed by criminals and hoodlums were affected in the exercise, according to a release made available to Metro by the agency’s spokesperson, Mr Taofiq Adebayo.

Sunday, who hailed from Enugu State and moved to Lagos for business ventures in 2007, was said to have decided to end his life inside the well because he had

Kidnapped BUK lecturer regains freedom The authorities of Bayero University, Kano (BUK) have confirmed the release of its lecturer, Mr Saminu Aliyu-Kiri, who was kidnapped in Kaduna State, Thursday night.

Director, Public Affairs of the university, Mallam Ahmed Shehu, confirmed the release of the abducted lecturer in an interview with the News Agency of Ni-

the suspects crushed three human heads and tied them separately with different inscriptions on them.

Badmos also said the three human heads were labelled: ‘Danjuma – 20, 000’, ‘Alhaji Yusuf - 70 000’ and ‘A Mumuni - 10 000’.

Two suspected cultists, who have allegedly been responsible for the death of about 20 people, have been arrested by policemen from the Zone 2 police command.

Policemen from the Special Intervention Squad, led by Gbenga Megbope, a Chief Superitendent of Police, arrested the cult members, who reportedly operated between Sango and Ifo areas of the state.

The zonal Police Public Relations Officer (PPRO), Muyiwa Adejobi, confirmed the arrest of the suspects to Metro, adding that they were meeting to plan another attack when the two were arrested.

They were identified as Wasiu and Sheriff (surnames withheld) and also said to be members of the Aiye Confraternity, a.k.a Black Axe. Adejobi, in a statement to Metro, said “the operatives of the Zonal Intervention Squad, Zone 2 Command, Lagos, have arrested two

suspected cultists for their involvement in the killing of more than 20 members of their gang (Aiye Confraternity) and rival gang (Eiye Confraternity) in Ota and Ifo areas of Ogun State.”

The Zone 2 PPRO also disclosed that “the suspected cultists were arrested on September 30, while planning to have a meeting and possibly carry out their usual deadly attacks on some targets at Agosi area of Ifo, in Ifo Local Government Area of Ogun State.”

Adejobi also said the cultists were “in large number, which created panic in the area and that they have confessed to many killings, including the gruesome murder of one Niyi (surname unknown) a.k.a Neyo, the then number one man of Aiye confraternity in Ifo area of Ogun State.

“In a bid to overthrow Niyi, the former cult leader was axed to death by the duo and others at large, at the Western City Street in Ifo, Ogun State on September 29.”

geria (NAN) in Kano, on Sunday.

Shehu said the lecturer, who regained his freedom on October 7, had since been reunited with his family in Kano.

“As I am talking to you now, the lecturer has regained his freedom and reunited with his family,” he said.

Shehu, who did not state whether ramson was paid

before the release, stated that it was by God’s miracle the lecturer regained his freedom.

NAN recalled that Aliyu-Kiri of Faculty of Computer Science of the university, was kidnapped alongside two other persons in Kaduna State while returning from an official assignment in Saki, Oyo State.

lost hope, but was promptly intercepted by three police officers attached to the agency.

Chairman of the Task Force, Olayinka Egbeyemi, a Superintendent of Police, who led the demolition exercise, disclosed that many of the affected illegal shanties were hideouts for criminals and hoodlums, who freely smoked marijuana and engaged in prostitution.

He said innocent members of the public who had been complaining about activities of these criminal elements around Victoria Island, Lekki and Ajah could now sleep with their two eyes closed.

The Task Force chairman stated further that the state government had invested heavily on infrastructural development across the state to attract both local and foreign investors.

One of the residents, who simply identified himself as Engineer Damilola Okanlawon, said the demolition

exercise carried out by government was long overdue, as criminals and hoodlums living around the Jakande

Estates always robbed and attacked innocent residents at night with dangerous weapons.

remandedin inprison prisonfor forstealing stealing 22remanded motorcycle in Ekiti Okada in Ekiti Sam Nwaoko - Ado Ekiti

An Ado-Ekiti Chief Magistrates’ Court has ordered the remand of Opatola Opeyemi, (25) and Sunday Abiola (35), in prison custody over alleged stealing of a motorcycle.

The police prosecutor, Monica Ikebuilo, told the court that the accused persons committed the offence on September 27 in IjeroEkiti, headquarters of Ijero Local Government Area of the state.

Ikebuilo alleged that the accused, on the said date, “unlawfully stole a motorcycle belonging to one Idowu Sunday in Ijero-Ekiti.”

According to her, the act contravened section 1(2)

(a) and (b) of the Robbery and Firearms (special provisions) Act. She applied for a date of adjournment to file their case and send it to the office of the Director of Public Prosecution (DPP) for legal advice.

The plea of the accused was not taken, as his counsel, Mr Olarewaju Olusola, sought for a short adjournment pending the advice from the office of the DPP. The Magistrate, Modupe Afeniforo, consequently remanded the accused in prison custody till the outcome of the advice from DPP. She adjourned the case till November 7 for further hearing.

37

Monday, 10 October, 2016

Nigerian Tribune

Edited By Oluwatoyin Malik

08116954633, 08078891950 e-mail: tribunecrimedesk@gmail.com

Epe kidnap: Family negotiates N1 million for each hostage •Residents want improved security •Ambode orders demolition of illegal waterfront structures From Bola Badmus and Olalekan Olabulo with Agency Reports

F

amilies of the hostages of last week’s abduction at Igbonla area of Epe in Lagos State are appealing to the kidnappers to reduce the ransom to N6 million .

It was gathered on Sunday that the families of the kidnapped victims were negotiating to pay N1 million on each hostage.

A family source, who pleaded anonymity, while speaking with the Metro said “we (relatives of hostages) have agreed to negotiate the reduction of the money to N6 million.”

The family member added that “it is for each family to get N1 million. The fact is that we have not agreed on the N6 million but we are still expecting their source (kidnappers),” the family source added.

Also, some traditional rulers and residents of Eredo Local Council Development Area in Epe, Lagos State, have called on the state government to strengthen security in the community to combat criminal activities.

They made the appeal in an interview with News Agency of Nigeria (NAN) in Lagos, on Sunday, following the kidnap of a vice principal, teacher and four students of Lagos State Model College, Igbonla, near Epe, by unknown gunmen last Thursday.

Following the incident, armed policemen and other security agents have mounted patrols in the area.

The traditional ruler of the community, Oba Akeem Adesanya, told NAN that there was no sufficient security in the community.

He disclosed that: “The community depends on vigilante and neighbourhood watch, but they are not enough to combat such ugly occurrence.

“The security men in the community are not fully armed to confront the su-

perior gadgets used by the hoodlums.

“There is, therefore, need for security to be beefed up in the area.”

Meanwhile, Lagos State governor, Mr Akinwunmi Ambode, has assured that the state government in

The Kogi State governor, Alhaji Yahaya Bello, has said the “Operation Total Freedom” special squad set up to fight crime in the state, has arrested over 30 kidnappers who have been tormenting residents.

This was just as the governor declared his readiness to defeat the menace of kidnapping in the state and restore sanity across the 21 local government areas of the state.

Speaking on efforts aimed at combating crime, Bello, who spoke through his Director-General, Media

a review of its laws to curb and effectively punish perpetrators of kidnapping.

The governor, who spoke shortly after carrying out an extensive inspection of projects across the state, also issued a seven-day ultimatum for all illegal structures on the state waterfront to be demolished.

Speaking to journalists at the Illubirin Housing Scheme in Lagos Island, Ambode, who expressed worries over the erection of several shanties and structures within the premises and especially on the waterfront, said such would not be allowed in the state anymore.

3 robbers, mechanic die in Lagos bridge accident Olalekan Olabulo - Lagos

The car involved in a lone accident on Iddo Bridge being towed on Sunday. PHOTO: SYLVESTER OKORUWA

Alleged extortion: Suspected thug evades arrest Biola Azeez - Ilorin Residents and shop owners at pipeline area of Ilorin metropolis, at the weekend, were surprised to see a suspected street urchin bolted to evade an arrest by the police.

Metro gathered that the unidentified suspect had been extorting money from okada riders, plying the area.

It was also gathered that some people, including okada riders in the area had complained to the po-

lice about the conduct of the hoodlum, who sometimes threatened to harass any commercial motorcycle operator who failed to “cooperate.”

After receiving the complaints, a patrol team of the police was said to have

Kogi wages war on kidnappers, as police arrest 30 Yinka Oladoyinbo - Lokoja

collaboration with security agencies, will soon rescue victims kidnapped from Lagos Senior and Junior Model College, Igbonla-Epe. The governor gave the assurance on Sunday, just as he revealed that the government would also commence

and Publicity, Mr Kingsley Fanwo, said the kidnappers were arrested around Obajana, in Lokoja Local Government Area and Itakpe, in Adavi Local Government Area of the state.

According to him, the people were arrested when the special squad, which is a combination of the men of the Nigerian Army, Nigeria Police, the Nigerian Navy and the Nigeria Security and Civil Defence Corps (NSCDC), established by the state government, invaded the hideouts being used as camps.

The governor, who said the suspected kidnappers had been handed over to

the state command of the police, expressed delight that his massive investment in security of lives and property in the state was beginning to yield desired results.

Fanwo said: “The governor took the challenge of securing the people at such a critical time as this. He changed the security architecture of his administration and harped more on improving the numerical and technological strength of the security agencies. He also provided brand new Ford vans to security agencies and launched a security outfit for the state, made up of all security agencies codenamed ‘Operation Total

Freedom’.

Corroborating the development, the Police Public Relations Officer (PPRO), Kogi State command, William Anya, said the state command had also stepped up efforts at securing the people of the state and those travelling through the highways.

He said the Inspector-General of Police and the state government had been supporting and encouraging the command to provide security of lives and property of the people.

He noted that the suspects would be arraigned immediately investigation was concluded.

mounted surveillance on the area, with a view to picking the suspect up for possible interrogation.

In what looked like hide and seek game, the suspect appeared to have also got a hint about the plan to arrest him and was also doing his illicit business with caution.

However, when a team of four policemen arrived at the spot where the suspect was extorting money from the okada riders to effect his arrest at the weekend, he fled.

It was gathered that the policemen pursued the suspect until he allegedly scaled a fence and bolted away.

Metro observed that there was anxiety among residents, shop owners and passersby throughout the period the armed policemen chased the suspect.

The policemen were, however, said not to be giving up as they have intensified their surveillance in the area in the bid to effect his arrest.

Four people, including three suspected armed robbers were on Sunday afternoon killed in a ghastly accident that occurred on Iddo Bridge in Lagos.

A gang of five armed robbers were reportedly escaping after snatching a vehicle when the snatched vehicle was involved in an accident which killed another man who was under the bridge.

Three of the armed robbers died, while two others were seriously injured, just as the vehicle fell on a mechanic, claiming his life.

The Lagos State Emergency Management Agency (LASEMA) said that the bodies of the armed robbers and that of the mechanic had been deposited in a morgue.

LASEMA, in a stamement, made available to Metro Sunday evening said “ the agency received a lone accident report on Iddo Bridge around 2.15 p.m. on Sunday.”

The agency continued that “on arrival at the scene of the incident ,the emergency response team of the agency discovered a grey colour Hyundai iX35 with registration number SMK 485 CM which skidded off the Eko bridge by Iddo Terminus and fell on a man.”

news Ofala Festival has promoted community development —Adenuga 38

I

CONIC business tycoon, Dr Mike Adenuga, Jr, has described the Ofala Festival of Onitsha people in Anambra State, as a key booster to social stability and community development.

Dr Adenuga, who is chairman of next generation network and grandmasters of data, Globacom, stated this over the weekend, in his goodwill message to the 2016 Ofala Festival celebrations, held at the Ime Obi, Onitsha.

He said that the festival had over the years fulfilled the call by the United Nations Educational, Scientific and Cultural Organisation (UNESCO) for the promotion of cultural initiatives.

“Ofala Festival, for us in Globacom, is an important vehicle which has been used to drive social integration, promote peace and community development. But more importantly, the festival immortalises a lofty heirloom of the Onitsha people,” Dr Adenuga said.

He stated that Globacom had been supporting Ofala Festival for the past six years because it was “in line with our vision to identify with initiatives that empower us as a nation and raise future leaders who will not only be exceptional in their professional endeavour, but will also be worthy ambassadors of our cultures and traditions.

This was why we instituted the Glo Heritage Series to support festivals that help the realisation of this noble cause.”

The foremost business man commended the Obi of Onitsha, Igwe Alfred Nnaemeka Achebe, for in-

Monday, 10 October, 2016

troducing powerful initiatives to the festival.

“Globacom is proud of the interventionist roles it has played in the promotion of arts by investing in our budding and established talents. Our latest contribution in this sphere is a television satire, Professor Johnbull. Produced in the Eastern part of Ni-

geria and shown weekly on the NTA Network, the television drama series is not just entertaining but also didactic. Its objective is to make people learn and laugh as they relish the drama played by top Nollywood stars to call attention to various challenges facing the nation and how we can smash our obstacles

into smithereens,” Dr Adenuga submitted.

Delivering his Ofala speech, Igwe Achebe observed that Dr Adenuga had made huge personal commitments to Ofala Festival, and prayed for more grace for him to be able to impact more positively on humanity.

“We are particularly

Parents and staff of MD School, Abule Egba, Lagos, assisted by pupils of the school to clean up the Oja-Oba Market in Abule Egba, as part of activities marking the school’s 30th anniversary.

Pupils, parents, staff of Lagos school clean Abule Egba market OVER 200 pupils of MD School, on Saturday, took part in the environmental cleanup exercise of the Oja-Oba Market, in Abule Egba, Lagos.

The exercise, which was part of the activities lined up for the school’s 30 years anniversary celebrations, began at 8a.m. with parents and teachers guiding the students.

An elated Executive Di-

rector of the school, Omolara Adedugbe, said the exercise was part of their corporate social responsibility to the community where the school is situated.

According to Adedugbe, “We chose to be here because the market is a filthy place and this goes to show that we are conscious about our environment and its people.

“As you can see, the marketers are very happy about the exercise.

“We were well received and have promised not make it a one-off thing.

“We hereby enjoin other corporate organisations in the state and the country at large to adopt the exercise.

“We want people to come out and should not feel too big to identify with these

Tens of thousands connect to Glo’s superior nationwide 4G LTE TENS of thousands of Nigerian telecom subscribers have upgraded to the newly-launched Glo 4G Long Term Evolution (LTE) network since it was launched nationwide last week.

Subscribers showed instant excitement as they trooped to Gloworld centres in different parts of the country to either buy a new Glo 4G SIM or switch their existing number to 4G LTE. Among the locations where the service was in Lagos were Lekki, Ikoyi, V.I., Ajah and Akoka. In Port Harcourt, subscribers in Aba Road, Trans Amadi, Diobu, Old GRA and UNIPORT have had the privilege of enjoying the service since last week, Warri, Eket, Benin, Abuja (Maitama, Wuse, Asokoro, Garki/ Central Business District

thankful for the personal commitment of the Executive Chairman of Globacom, Dr Mike Adenuga Jr, GCON, towards the success of Ofala Onitsha for the past six years. We pray that God continues to bless him to enable him to continue to serve humanity,” the traditional ruler stated.

and Airport Road), Jos, ABTI in Yola and Ahmadu Bello University, Zaria have also been connected to Globacom’s 4G LTE. According to the Marketing Communications Manager, Mr John Awe, Globacom also gave a firm assurance to its subscribers in other parts of the country that they will soon

be connected to the 4G LTE. 4G LTE from Globacom is a mobile broadband protocol, which offers subscribers the flexibility to upload or download data intensive applications.

This development has particularly been exhilarating to netizens who consume huge volumes of data, as

well as government and corporate bodies, including banks, oil and gas companies, academic and health institutions, which depend exclusively on seamless data usages for their operations.

The reaction of a Lagosbased business man, Atitebi Ajijedidun, summed up the reactions.

people.”

Meanwhile, the Secretary of Oja Oba Market, Alhaji Adeshina Akanni Jimoh, on behalf of the market executives and the marketers, thanked the school’s management, students and parents for carrying out the exercise.

Jimoh’s words, “Though, we carry out the exercise weekly in collaboration with LAWMA, but today’s exercise is commendable and we are saying a very thank you to the school’s management for this strategic move.

“For me, this is first of its kind and I must confess that it beats our imagination.”

The exercise was supported by Lagos State Ministry of the Environment and the Highway Managers.

Reddington Hospital appoints UK surgeon as group medical director

THE board of the Reddington Hospital has appointed a UK trained Consultant General and Laparoscopic Surgeon, Dr Olutunde Lalude, as Group Medical Director and Head of Surgery of the hospital group with effect from October 1, 2016.

Dr Lalude is a highly experienced consultant colorectal, general and laparoscopic surgeon with over 25 years of experience practicing in the National Health Service (NHS) in the United Kingdom. He trained in general and colorectal surgery in the UK and is a fellow of the Royal College of Surgeons of Edinburgh in addition to which he holds the UK intercollegiate fellowship in General Surgery.

Dr Lalude was appointed consultant colorectal, general and laparoscopic surgeon to the Princess Alexandra Hospital in Harlow, Essex in 2004.

He specialised in colorectal and general surgery with a particular interest in cholecystectomy and treatment of hernias, bowel diseases, gall bladder conditions, disorders of the rectum and anus, including hemorrhoids.

He is also a highly experienced Laparoscopic Surgeon (keyhole surgery) and an accomplished Endoscopist with special interest in Colonoscopy.

He has held several senior clinical leadership positions in the UK, including; Clinical Director, Head of Department of Surgery, Lead clinician for colorectal surgery, colorectal multidisciplinary team Lead at Princess Alexandra Hospital Essex. He has a particular interest in enhanced recovery following surgery and achieved the distinction of having the second lowest hospital stay after bowel surgery in England as determined by reducing length of stay.org based at UCLH in London.

Nigeria needs special bank for education industry —Runsewe

By Kehinde Adio

PROPRIETOR, Seed of Life Group of Schools, Ibadan, Mrs Kikelomo Runsewe, has suggested the establishment of a special bank for education industry to form part of the ongoing education reform process in the country.

She made the sugges-

tion recently, at a press briefing organised to mark the 25th anniversary of the Nursery and Primary arms of the school.

According to her, the establishment of an interest-free bank loan by the Federal Government for education sector will go a long way to boost development in the sector.

She said; “Access to

fund is one of the major challenges in education advancement in Nigeria.

In view of this, a short term loan with little or no interest rates from the proposed Bank for Education Industry is desirable to create child-friendly schools in the country.

The financial opportunity will give every school, private and public at all

levels, the benefit of developing their schools in terms of infrastructure and teaching aids.” “f there are banks for Agriculture, Small Scale industry and other allied sectors, it is not out of place to establish a bank that will make fund accessible to proprietors of schools at little or no interest rate.”

Dr Lalude

39

Monday, 10 October, 2016 Editor: Wale Emosu tribunesporteditor@yahoo.com 08111813054

Buhari to declare 2016 Army Games open today As water sport debuts

From left, President, Nigeria Football Federation (NFF) Amaju Pinnick, Founder/President, Football Club Ifeanyi Ubah, Dr. Patrick Ifeanyi Ubah, Managing Director, West Ham United FC, UK, Mr. Angus Kinnear and Consultant to West Ham United FC, Peter Stephenson during the press briefing/dinner to intimate the public on the partnership between Football Club Ifeanyi Ubah and West Ham United at the Eko Hotel, Lagos last Wednesday.

NRA boss denies Pinnick’s interference in association’s activities

By Niyi Alebiosu

T

HE President of the Nigeria Referees Association (NRA), Alhaji Tade Azeez, has dispelled media claims that the President of the Nigeria Football Federation (NFF), Amaju Pinnick is planning to restructure the association.

According to him, the federation president was referring to the NFF referees Committee under Alhaji Fresh Ahmed when he was discussing recent attention on referees’ performances during the final day of the 2016 Nigeria Professional Football League in Enugu.

The Vice Chairman of Lagos State Football Association (LSFA) said the federation does not have any direct power over the activi-

ties of the NRA, hence they cannot implement any reform or restructuring the association.

He distanced himself from the “controversial calls” of some ref-

5th Ochei Wheelchair Basketball: Oyo wins gold as sponsor lauds players improvement

By Niyi Alebiosu A late bust of experience from Oyo State ensured they beat Kano Pillars 37-31 in the final of the 5th Rt. Hon. Victor Ochei International Wheelchair Basketball Tournament at the Sir Molade Okoya Thomas Hall of the Teslim Balogun Stadium, Lagos.

The Oluyole Boys led by floor marshal, Strasbourg based Lukmon Ibrahim had it tough on their

All set for 2016 Obakin ‘Ayo Olopon’

By Nurudeen Alimi THE 2016 edition of Chief Oladimeji Obakin Ayo Olopon competition begins tomorrow.

The competition organised in collaboration with the Oyo State Sports Council, is scheduled to hold between tomorrow and Thursday at the ground floor of the Administrative Block, Oyo State Sports Council, Adamasingba, Ibadan.

According to the secretary, Oyo State Traditional Sports Association, Alhaja Fatimat Badmus, logistics has been put in place to ensure a hitch-free competition.

“We have tidied up all the arrangements for a successful competition and I can only assure the participants as well as

erees and its attendant fallout towards the end of the season and in the knockout stages of the Federation Cup as he promised to talk when the time is right.

ABUJA is set to come alive as a “high powered delegation” led

by President Muhammadu Buhari will converge on the capital city of Nigeria for the opening ceremony of the 2016 Nigerian Army Sports Festival holding at the mainbowl of the National Stadium, Abuja.

Chairman of the Central Organizing Committee of the 16th edition of the games, MajorGeneral John S. Malu confirmed this to newsmen at the weekend in Abuja immediately after the final rehearsal for the event expected to start at 11am.

According to him, “The President and Commander in Chief of the Armed Forces will be the Special Guest of Honor at the opening ceremony.

“We have invited the 36 state Governors and all the ministers.

It is going to be a very high profile ceremony”.

spectators of an improved standard when the competition gets underway.”

Speaking with Tribunesport ahead of the tournament, Acting General Manager, Oyo State Sports Council, Gboyega Makinde, said: “It is in our tradition in Oyo State to promote traditional sports. It is a known fact that conventional sports like football and others are being given prominence at the detriment of traditional sports and other sports. We must not forget that traditional sports have their keen followers too. So this is the reason we believe so much in the promotion of traditional sports, We are also working round the clock to have more of Chief Oladimeji Obakin competition,” he noted.

way to the trophy with 13 different lead changes and the game tied 9 times. Only relying on Lukmon’s experience in the last two minutes to outclass the youthful Kano Pillars side who were making their debut at the tournament.

Patron of the Nigeria Wheelchair Basketball Federation and sponsor of the tournament Rt. Hon. Victor Ochei a former Speaker, Delta State House of Assembly showered praises on the players for raising the level of game this year.

“I am really impressed with the level of competitiveness amongst the teams in this year’s championship and I must say wheelchair basketball will soon be the toast of special athletes and the Paralympics committee in Nigeria”.

He also reiterated his commitment towards the continued sponsorship of the competition which according to him is dear to his heart.

The Oyo State Commissioner for Youth and Sports, Barr. Yomi Oke who was on hand to witness his team’s triumph over Kano Pillars eulogised the team and rewarded them with a cash bonus of N100,000 for their effort.

“Our team showed the warrior spirit to win the tough match against Kano. We are going to do more to support special athletes and special sports in the state.”

Ghana took the bronze medal with a 25-12 points victory over Lagos in the third place for male,

while Delta won their third straight title in the women’s division with a 7-2 win over Edo. Imo won the third place playoffs with a 4-2 victory over visiting Ghana.

President, NWBF, Bukola Olopade in his remark, expressed appreciation to the sponsor and called on the ministry of sport to do more for the wheelchair basketball. He said the federation has striving hard to making the country proud and called for more support from individuals and corporate bodies.

He explained that the weeklong event which in the words of Chief of Army Staff, Lt. General Tukur Buratai is ‘marking the beginning of victory celebration in the war against terror in Nigeria’ will have about 1,760 athletes across 6 Divisions of the Army competing in 19 sports.

“The war on terror is almost over. If soldiers that are engaged in the fight against terror can have time to come and do sports, then every other person is free to come to Nigeria to invest and go about their businesses peacefully. That is one of the main reasons for this event.

To reassure the international community that Nigeria is very safe.”

On the events for the sports festival, Malu said, “In total, there are 19 events cutting across football, table tennis, tennis, chess, scrabble, taekwondo, judo, wrestling, half marathon, Tug of War and boxing amongst others.

Though athletics is grouped as one event, there are a lot of events in athletics.

There are three events that are purely military i.e obstacle crossing and combat relay.”

He concluded that the sports festival was in line with the Federal Government’s decision to take sports back to the grassroots and ensure early preparation for Team Nigeria contingents in future sporting events.

“After the event, we expect that the Nigerian Army would have produced athletes that will represent the nation at the next All Africa Games and the Olympics.”

Sponsor of the Wheelchair Basketball tournament, former Speaker, Delta State House of Assembly, Rt. Hon. Sir Victor Ochei (middle), celebrates with the victorious Oyo State male team.

SIDELINES

NO 16,607

N150

MONDAY, 10 OCTOBER, 2016

Ghana’s local footballers are not doing so well because of an overdose of sex, as the country’s many beautiful girls just won’t leave them alone, a top football figure in that soccerblessed country has said. Well, the players have a choice between their future and beautiful ladies. Whoever fails to be serious is bound to fail seriously.

From right: Goal scorers, Alex Iwobi and Kelechi Iheanacho make skipper Mikel Obi and Brown Ideye happy.

Iwobi, Iheanacho shoot down Zambia

Results Ghana Gabon Congo DR C/ d’Ivoire B-Faso Senegal Zambia Congo

0 - 0 0 - 0 4 - 0 3 - 1 1-1

2 - 0 1 - 2 1 - 2

Uganda Morocco Libya Mali South Africa C/ Verde Nigeria Egypt

By Nurudeen Alimi

N

I G E R I A youngsters, Alex Iwobi and Kelechi Iheanacho ensured that the Super Eagles beat home side, the Chipoloplo of Zambia 2-1 in an African Group 2 Russia 2018 World Cup qualifier played on Sunday at the Levy Nwanawasa Stadium

Eagles get ticket refunds, outstanding bonuses VICTORIOUS Super Eagles of Nigeria on Sunday got some of their outstanding payments immediately after their 2-1 win in Zambia in Ndola.

The players received their flight ticket refunds, match bonus for the AFCON qualifier against Tanzania last month as well as appearance fees for two friendlies in May against Mali and Luxembourg.

It is estimated that a player who was involved in all three matches would have received close to $8,000.

The win bonus for yesterday’s World Cup qualifier in Ndola is now the only outstanding for the Eagles.

On November 12, Nigeria will welcome Algeria to Uyo in continuation of the World Cup qualifying series.

in Ndola.

Iwobi scored in the 31st minute as Iheanacho added the second goal in the 42nd minute to render Zambia’s second half rally through Collins Mbesuma inadequate.

The game watched by a pack 41,000 capacity crowd including Zambia’s President Edgar Lungu, saw goalkeepers Kennedy

Mweene of Zambia and his Nigerian counterpart, Carl Ikeme, saving their respective country blushes in moments of furious exchanges.

Belgium-based Ndidi set the Eagles on victory path when his attacking throw was poorly cleared by Adrian Chama as sure-footed Iwobi volleyed in the first goal in the 31st minute.

...They are Nigeria’s future —Rohr NIGERIA’S coach, Gernot Rohr, on Sunday described the duo of Alex Iwobi and Kelechi Iheanacho as the future of Nigerian football after the two players scored in 2-1 win over Zambia in Ndola during a Russia 2018 World Cup qualifier. ‘’To come here and win is very important. It was a

tough game but the bright spot is that two of the youngest players in today’s match scored,” Rohr said after the game.

“We have helped their careers by choosing them and they responded by scoring. If they keep their heads, they are going to be the future for Nigeria.’’

Rohr said the game was an improvement over his first match with the Eagles which his side won 1-0 over Tanzania.

‘Then we wasted a lot of opportunities and scored one, today we scored two against a strong team and on away ground, you can see that is an improvement’’.

Disappointed Zambia coach praises players

Zambia Collins Mbesuma scored for his country.

PHOTOS: ZAMBIA FA

ZAMBIA’S WEDSON Nyirenda is disappointed by the 1-2 loss to Nigeria on Sunday in a Russia 2018 World Cup qualifier in Ndola but happy that his side showed strong character in the second half of the game.

Addressing a post-match conference, Nyirenda said, to have lost his first match in charge in front of the country’s President is disappointing enough.

‘There was a lot of Zambia’s

solidarity behind this match with the President in attendance but we gave the match away in the first half. We were too focussed on winning the match than countering the Eagles, we committed blunders in dangerous positions. There were just two Nigerian players as opposed to our four defenders for the first goal, you can’t do that in such a game and escape unhurt.”

Nyirenda, who got the

An attempt by Zambia to get even with Nigeria was foiled by Ikeme who diverted a Rainford Kalaba’s goalbound header in the 39th minute.

Nigeria skipper, Mikel Obi initiated a three-man incursion involving Brown Ideye which Iheanacho brilliantly converted at the far post in the 42nd minute for the Eagles second goal.

The crowd roared Chipolopolo back onto the pitch in the second half and the Zambians luckily met a tiring Eagles as Iwobi, Iheanacho and Ideye ran out of gas and gifted the home side a lot of space especially on the width.

On one of those raids, Nigeria’s Kenneth Omeruo fumbled a clearance and was robbed by veteran Collins Mbesuma who slot fiercely past Ikeme in the 71st minute.

The home crowd asked for more as Chipolopolo invaded Eagles territory but substitute Ahmed Musa almost got Nigeria’s third goal forcing Mweene, on his 108th cap for Zambia, to make a finger tip save to deny the Leicester City striker in the 85th minute.

Chipolopolo job last month, said he was happy his substitutes changed the game in Zambia’s favour.

“We closed down the Nigerian threats very well and they were made to chase shadows. We should at least have earned a draw. When your substitutes made a difference, they are making a claim that your team can get better.’’ >>pg15

in&out with Tony Afejuku

Inside

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. 10/10/2016.