Mon 17 June 2013 The Guardian Nigeria by The Guardian Newspaper

TheGuardian Conscience, Nurtured by Truth

Monday, June 17, 2013

Vol. 29, No. 12,590

N150

www.ngrguardiannews.com

U.S. police hunt for suspected killers of Nigerian UTRAGED at the grueO some murder of a Nigerian in the Brownsville area of Brooklyn, the police in New York have begun a move to unravel the suspected attackers. The News Agency of Nigeria (NAN) yesterday quoted sources as saying that the victim of the attack, Uro Ama Orji, 54, a cab driver in the area, was stabbed in the eye with an umbrella on Thursday. After he had been wounded, his vehicle crashed into two parked sports utility vehicles at Lott Avenue and Boyland Street at about 5.30 p.m. Orji, who resided in Queens, was taken to Brookdale Hospital where he was pronounced dead. Following the development, a $5,000 reward was offered for information that could lead to the arrest of the suspects. The New York State Federation of Taxi Drivers offered a $3,000 reward, while the group of 100 Blacks in Law Enforcement Who Care offered another $2,000. Police said they were looking for a man and woman who were passengers in the cab Daughter of former South African President Nelson Mandela, Zenani Mandela-Diamini (right); former wife, Winnie Madikizela-Mandela and grand-daughter, Zaziwe, during their visit to the anti-apartheid hero on Father’s Day at Mediclinic Heart Hospital, Pretoria, South Africa… yesterday. PHOTO: AFP

CONTINUED ON PAGE 4

Fresh crack in govs’ forum From Saxone Akhaine (Kaduna), Mohammed Abubakar, Karls Tsokar (Abuja), Kelvin Ebiri (Port Hacourt), Seye Olumide and Tunde Akinola (Lagos) S the crisis in the Nigeria A Governors’ Forum (NGF) worsens, Rivers State Governor Chibuike Rotimi Amaechi yesterday declared that the group would not meet today . Amaechi’s position is contrary to that of Plateau State Governor Jonah Jang who has fixed a meeting of the NGF for today. Both Amaechi and Jang are each laying claim to the chairmanship of the NGF. In a statement yesterday,

• Group not meeting today, says Amaechi • Tells Jang: ‘Stop impersonating me’ • Jonathan’s wife denies plot to unseat Rivers helmsman Amaechi asked Jang to stop impersonating him. He said on June 15 and 16, reports in the media credited to Jang announced that he had called for a meeting of the NGF. According to Amaechi, ordinarily, he would have ignored these reports as he does not imagine that as gov-

ernors who hold the people’s mandate through the democratic process of free and fair elections, they would do anything to impugn their integrity. In the statement issued in Port Harcourt yesterday, Amaechi, however, explained that as chairman of the NGF, elected by his colleagues to

safeguard their integrity and that of the forum, it had become imperative for him to request that Jang remain within the confines of decorum and cease to impersonate him and to stop parading himself as NGF chairman. He said that there was only one chairman of the forum, duly elected by a vote tally of

19: 16 on May 23, 2013. “For the avoidance of doubt, I as chairman of the NGF have not called for any Governors’ Forum meeting for Monday, June 17, 2013. The only meeting scheduled for Monday, June 17, is a meeting of all governors with His Excellency, President Goodluck Jonathan, scheduled to hold at 9.00 p.m. at Aso Rock Villa. All governors should please ensure attendance at this meeting with Mr. President”, he said. “I wish to re-assure my brother governors that this

Again, pipeline explosion rocks Oyo community - Page 3

storm shall pass and we all will be re-united as one family committed to our nation’s unity and supporting Mr. President in his vision for a Nigeria that safeguards the rights of all its citizens to good governance and democratic norms. Governor Jang is my brother and friend and I harbour no ill-feelings against him, but it is important that he stops this impersonation, as it could threaten all the good work we all have done together,” Amaechi said. Amaechi said he wished to remind Jang that there is a legal action that has been instiCONTINUED ON PAGE 4

THE GUARDIAN, Monday, June 17, 2013

News Nigeria congratulates Iran’s president-elect, Rouhani

Security agents detain Ukranian aircraft in Kano

RESIDENT Goodluck has P congratulated Mr. Hassan Rouhani on his victory in

By Murtala Mohammed and Abba Anwar, Kano

Iran’s presidential elections. Jonathan also commended the government and people of Iran on the successful and peaceful election of a successor to outgoing President Mahmoud Ahmedinejad. The President applauds Rouhani’s characterisation of the outcome of the Iranian presidential elections as a victory for wisdom, moderation and maturity as well as his declared commitment to running an administration that will promote democracy, interaction and free dialogue. Jonathan and the Federal Government of Nigeria look forward to working with the President-elect and his incoming administration to further strengthen existing relations and bilateral cooperation between Nigeria and Iran.

Mark leads lawmakers to China on exchange programme From Bridget Chiedu Onochie, Abuja

RESIDENT of the Senate, P David Mark, shall be leading Nigeria’s delegation to China later today for a parliamentarian exchange programme. The Nigerian lawmakers would tomorrow meet with their Chinese counterparts in Beijing, the capital c ity of China for the inter-parliamentary programme. The visit is in furtherance of the exchange programmes with advanced democracies, initiated by the Senate President as part of measures to strengthen Nigeria’s legislature.

N UKRANIAN aircraft carrying sophisticated miliA tary hardware was detained

Past District Governor, Prince Julius Adelusi Adeluyi (left); recipient of Rotary Award, Publisher, Guardian Newspapers, Lady Maiden Ibru and District Governor, Rotary International, Dr. Kamoru Omotosho during an evening with the media executive in Lagos at the weekend. PHOTO: AYODELE ADENIRAN

Father hands over suspected Boko Haram member son to JTF From Njadvara Musa, Maiduguri 60-YEAR old businessman A (name withheld) who alleged that his son was inducted into the Boko Haram sect and has killed several people in Maiduguri, the Borno State capital, has handed over the child to men of the Joint Task Force (JTF) in Hausari ward, requesting that he be killed. The Guardian also learnt yesterday that the son, before leaving his parents’ house in April, had threatened to kill his father. Neighbours of the businessman and other resi-

ROM the founder of the FAdo-Ekiti, Afe Babalola University, Chief Afe Babalola (SAN) has come a revelation that the four-year old institution valued at N80 billion, would have been sited outside Ekiti State but for the intervention of the Ewi of Ado-Ekiti, Oba Rufus Adejugbe, and the former governor, Mr. Segun Oni. Babalola, who spoke when the COREN Pre-accreditation Visitation Team visited the Ewi in his palace at the weekend, recalled how an un-named state government had allocated him large hectares of land with promises of other mouthwatering and near irresistible offers to lure him into sitting the urbane university in that un-named state.

conscience to keep a killerson in his home. According to him, “this was what informed the businessman to turn his son to men of JTF.” He also told The Guardian that the father, who is a Kanuri man, after making up his mind against housing or keeping a killer-son, approached the office of the JTF and told them of the criminal involvement of his son in killing and robbery. It was gathered that the soldiers followed the father home to arrest the son, who was shot dead, while trying to escape arrest.

An eyewitness said: “When the young man was shot by the soldiers and was wreathing in pains, the old man only turned round to say Masha Allah (to God be the glory).” The old man was also said to have decided against taking up the ill-gotten wealth of his son stashed away near the family house. “Before he was handed over to the soldiers, the young man had revealed to his father and family members that he possessed two cars and had millions of naira buried somewhere near the family house.

Again, pipeline explosion rocks Oyo community From Iyabo Lawal, Ibadan

‘Why Babalola varsity was sited in Ekiti’

dents of the area were said to have been baffled with the return of the son to the house to plead with his father to allow him refuge from soldiers and members of the Youth Vigilance Group that are massively hunting for fleeing sect members from Kirenoa and Sambisa Games Reserves Forests destroyed training camps. One of the neighbours said that after confessing all his (son) crimes, including how he participated in killing people and looting of banks, to his father, the old man declared that it was against his

Saturday night at the Mallam Aminu Kano International Airport, Kano by combined team of military and State Security Service (SSS) men. A source told The Guardian that the plane which made a technical landing at the airport at about 5.12 p.m., apparently attracted security alert and tension at a period when the airport was playing host to mass visitors both on international and national routes, trooping to the ancient city for the 50th anniversary of the coronation of the Emir of Kano, Alhaji Ado Bayero. The plane with number RA 78765 was, however, claimed to have landed to refuel when the eagle eye of the security agents tracked and prevented it from taking off. Although both the military and authorities at the airport did not disclose the destination of the jet, The Guardian gathered that the plane’s manifest revealed heavy military weapon with nine Europeans on board. When contacted, the JTF spokesman, Captain Ikedichi Iweha confirmed the nine-crew members were being detained for interrogation but pledged to feed reporters with details. It was learnt that the cargo plane with registration number UR-CAK is of Ukrainian origin bound for Guinea Bissau.

OR the second time in Fpipeline two weeks, activities of vandals on Saturday night led to heavy explosion at Alapata community area in Ido Local Council of Oyo State. The community is located along Apete-Akufo road. And worried by the consequences of the explosion, the National Emergency Management Authority (NEMA), according to its zonal spokesman, Alhaji Ibrahim Farinloye urged the Nigeria National Petroleum Corporation (NNPC) to shut down supplies so as to curb the intensity of the fire. About a fortnight ago, activities of vandals who operated at Elebu community of Apata had led to similar explosion. Though no life was lost in the explosion, various farm-

lands were however destroyed while men of the anti-vandalisation squad of the Nigeria Security and Civil Defence Corps (NSCDC), the Police, NNPC team and SSS were seen ensuring security at the scene The heavy bang, which resulted in pandemonium, was caused by the activities of vandals whose activities forced petroleum product out of the valve pit swimming into the stream and spreading into adjourning areas. The scooping hose of vandalised pipe, which was found burnt at the valve pit, was reported to have been passed into a location where vandals’ conveying truck was located. A farmer, Alhaji Fatai Ayilara told reporters that the security operatives had been put on notice when some strange movement was noticed around the pit last Wednesday.

The heavy bang, which resulted in pandemonium, was caused by the activities of vandals whose activities forced petroleum product out of the valve pit swimming into the stream and spreading into adjourning areas. “We suspected some strange movement around this area since Wednesday and we informed the security. About eight of them came around and we went round together. On Friday when I closed from work, I observed that they had tampered with the valve pit. I went round and realised the padlock was intact. There was no damage to the iron there too. I also thought the footprints I saw along the bush path were that of security. Then on Saturday morning, I observed massive noise from the pit hole. I went to inform some members of the

community to call the attention of security to it. However, before we got back, fuel had already started gushing out and swimming into farmlands, stream and adjourning areas. We informed security and I left. I was later informed that the place caught fire. You can see the burnt hose they used by the pit. We need a bridge here. If there is a road constructed here because this road is linked to Apata area, people will ply the route and it will reduce the activities of vandals.” The Chairman of Ido Local Council, Prof. Adeniyi

Olowofela called on the NNPC to use available safety fund to fund a joint security patrol of pipeline in the local government Olowofela, who spoke with reporters at the scene of the explosion, fingered an insider among the vandals. He then charged the National Assembly to set aside special fund for communities where pipeline vandalisation takes place as reparation for ecological destruction. “You must note that those doing this must have sound insider knowledge of how to do the job. I told the management of NNPC that we needed to look for a way of jointly funding a patrol team of NNPC pipelines in the local government so that we will not be just an undertaker when they have wrecked havoc. It will be a joint effort between the community, NNPC and the council.”

THE GUARDIAN, Monday, June 17, 2013

4 NEWS

U.S. police hunt for suspected killers of Nigerian CONTINUED FROM PAGE 1 and seen running from the scene. A video showed the man getting out of the cab, opening the front door of the vehicle and stabbing Orji with an umbrella. “It’s clearly on that video. You

have a female and male, and the male runs, the young lady walking away, perhaps guilt got the best of her. “This is a total outrage. This is just a guy trying to make a buck to probably feed himself and his family only to have his life taken for less than $10 or maybe $20 , which

is close to the average fare one would pay for a local ride inside Brooklyn”, community advisor, Tony Herbert, said. “It’s a very dangerous job, a very dangerous business,” Fernando Mateo, President of the New York State Federation of Taxi Drivers, also said. Community activists are

asking a UPS driver who might have witnessed the incident to come forward. Orji, a father of five children, came from Nigeria to U.S. 10 years ago to make a better living for his family. His children, whose ages are from 13 to 22, arrived in U.S. from Nigeria in Decem-

ber. “It’s still early, fresh. They are still in the denial stage,” said Orji’s brother, Agwu Ana Agwu. His sister-in-law, Chinedum Agwu, said he was a good father who was just trying to make ends meet. “He was a very dedicated, lov-

ing father. An innocent man who was just working hard to make sure his kids eat. Everything he was doing was to take care of his children. “It’s horrible. How do you do something like that? How do you wake up and have in your mind to go out and hurt somebody?” she said.

were also joined as defendants in the suit, which could be a long-drawn legal battle between the two factions over who will control the NGF, once a united pressure group with common interests. Meanwhile, the First Lady, Patience Jonathan, has denied reports linking her visit to Port Harcourt, the Rivers State capital, with alleged plans to unseat Amaechi. A statement from her Special Assistant, Media, Ayo Osinlu, said her visit was strictly in line with her position as a promoter of goodwill among all segments of the country, noting that it had no link with whatever political activity going on in the state. Besides, disturbed by the violence in some parts of the North, members of Arewa Defence League (ADL) yesterday said that the crisis ravaging the northern region was politically- motivated to destabilise the region ahead of the 2015 general elections. The President of the group, Malam Murtala Abubakar, in a statement in Kaduna said: “We wish to alert the nation, particularly the North-West political zone, to the sinister motives by the Presidency through the national executive committees of the People

Democratic Party to cause major political crisis in the region in order to achieve blind ambitions of those who want to subvert democratic principles to cling to power despite their poor records of public office.” Abubakar criticised what he called “the undemocratic manner the national executive committees of the PDP announced the suspension of the executive governor of Sokoto State, Aliyu Magatagarda Wamakko, from the party”, saying that “it is the beginning of series of events designed to instigate political crisis between and among political gladiators in the region against themselves in order to divert their interest from challenging the incompetence of the incumbent Presi-

dent.” He said: “We are aware that if the plots succeed, it will give the Federal Government the excuse to pronounce state of emergency in Sokoto, Kebbi, Kano and Jigawa states and thereby use soldiers during the 2015 general elections to rig the outcome of the elections if at all the elections is allowed to hold. “We are delighted to note through our consultations with stakeholders in Sokoto State that greater majority of the party members and sympathisers condemn the suspension and described it as act of impunity while the state chapter and North- West zonal Secretariat of the PDP had come out strong to distance themselves from the action of the national executive committees.”

Jonathan’s wife denies plot to unseat Amaechi CONTINUED FROM PAGE 1 tuted against him by Governor Babatunde Fashola of Lagos State from parading himself as the chairman of NGF. According to him, as leaders elected by the people, Nigerians are closely watching them. “We must comport ourselves according to the dictates and principles of democratic and lawful practices and norms,” he said. Amaechi’s allegation of impersonation against his Plateau State counterpart is a continuation of the controversy that has dogged the NGF chairmanship election conducted at the Rivers State Governor’s Lodge, Abuja, on May 23, in which incumbent chairman of the forum and Governor of Rivers State, Amaechi, was declared winner with 19 votes against 16 votes scored by his counterpart, Jang. The Director-General of NGF, Ashishana Okauru, declared Amaechi victorious, a declaration that has been challenged

by some members of the forum who alleged that the result was not a true reflection of what transpired. The once influential NGF has since been split into two factions, sequel to the rejection of Amaechi’s re-election by supporters of Jang, on the ground of “profound” irregularities in the election. On the contrary, they pronounced Jang as the actual winner of the disputed election while Amaechi insisted he won “fair and square.” Shortly after the election, Amaechi was suspended from his party, Peoples Democratic Party (PDP), by the National Working Committee (NWC) for alleged disobedience to the state chapter of the party in his state. A committee of the party led by Joseph Gadzama (SAN) was set up to look into the alleged infractions by Amaechi, who, in turn, has alleged a “political witch-hunt” by the party. The latest twist in the tail in the crisis rocking the party is the court action instituted by

Fashola on behalf of proAmaechi governors. The action was aimed at stopping Jang from “parading himself” as the chairman of the NGF, even as some proJang governors took time at the weekend to brief the media in Abuja and Lagos to shed more light on the continuing crisis. In the writ of summons filed by a former Attorney-General of Lagos State, Prof. Yemi Osibajo (SAN) and human rights lawyer, Femi Falana (SAN), Fashola asked the court to declare that Jang is not competent to be called the elected chairman of the NGF. He claimed that a record number of 35 state governors participated in the controversial election that returned Amaechi as the NGF chairman. As a result, the plaintiff (Fashola) is praying the court to stop Jang from parading himself as “the elected chairman of the forum in any manner whatsoever and however.” Fashola said he would rely on the NGF’s registered constitution when the trial begins. He wants an order of perpetual injunction restraining both Jang and Okauru, their privies and agents. All the pro-Jang governors

President advocates capital punishment Urges parents to instill discipline in children From Mohammed Abubakar, Abuja S Nigerians joined the rest A of the world in celebrating Father’s Day yesterday, President Goodluck Jonathan has lamented the fact that most state governments found it difficult signing into law the legislation on capital punishment. This came as he also stressed the need for parents to cultivate the spirit of discipline in their children and wards with a view to bringing them up in a God-fearing way. To this end, he challenged state governors to endorse capital punishment. In his message during the celebration at the State House Chapel, Jonathan noted that even though the father is supposed to show love to his children, the aspect of discipline must not be ignored if the children were to become useful and responsible citizens of tomorrow. “If we look through all the references that we have today with the father in the Bible, you will see that we expect a father to show love,” he said. “The father is the breadwinner of the family, to take care of the mother and the children, to provide food for them and take care of their education.

“We expect fathers to be role models where children will want to be like their fathers. I want to urge all of us who are fathers to discipline our children. No matter what you do, even if you show love and provide the needs of the family, if you don’t discipline your children, it is not good. “Like my late father, when we were small, anytime we committed an offence and we heard his voice, we would start crying. You would not wait to see him because you know what would happen to you. But these days, because of modern life, discipline is almost gone. “Discipline can be in various forms. In the (United) States, it could be admonition. Magistrate can just admonish and allow him to go. From admonition to various forms of punishments, it could be imprisonment; the extreme is capital punishment.” Of the governors, he said: “State governors should sign those laws, even though governors sometimes find it difficult to sign. I have been telling the governors that they must sign because that is the law. The works we are doing have a very sweet part and a very ugly part and we must perform both.

THE GUARDIAN, Monday, June 17, 2013

Ekiti urges teachers to suspend strike

TUC petitions NJC over appointment of industrial court judges

From Muyiwa Adeyemi, Ado Ekiti

KITI State government at the weekend appealed to teachers in the state to shelve their two-week-old industrial action and return to work in the interest of the education sector. At a press conference jointly addressed by the trio of the Commissioners for Education, Information and Labour, Ojo Kehinde, Tayo Ekundayo and Oluwole Ariyo, they appealed to the national body of the Nigeria Union of Teachers (NUT) to accept the 15 per cent Teachers’ Pecuniary Allowance being offered them by the government. Ojo assured that the government would pay the 15 per cent now and the remaining 12.5 per cent later when the economy of the state improves.

NEWS 5

By Yetunde Ebosele RADE T (TUC) National

Union Congress has urged the Judicial Council (NJC) to investigate circumstances surrounding the appointment of 12 new judges of the National Industrial Court (NIC) by the President based on the recommendations of

the National Judicial Council (NJC). In the petition, which was copied to President Goodluck Jonathan and made available to The Guardian yesterday, TUC claimed that some lawyers “qualified by law were not shortlisted by President of the National Industrial Court, Justice Babatunde Adejumo,

because they are not connected to people in high places”. The petition dated June 11, 2013, and signed by TUC President General, Peter Esele, explained that members of the congress have confidence that Chairman of the National Judicial Council and the Chief Justice of Nigeria, the Justice

Mariam Aloma-Mukhtar “who has embarked on patriotic reform of the Judiciary, will not allow judges who are not qualified to preside over cases in the National Industrial Court”. It explained that sequel to the recommendation of the NJC, President Jonathan appointed 12 new judges for the NIC in May 2013.

Cleric lists solutions to leadership woes From Charles Ogugbuaja, Owerri HE Anglican Bishop of T Owerri Diocese, Dr. Cyril Okorocha, at the weekend noted that only the tenacity of purpose, resilience, self-discipline and patience on the part of both leaders and intending leaders at various levels could solve the perennial political, social and economic problems facing the country. In a lecture entitled: “Your turn to lead: Leadership Challenges for Young Anglican Christian men, A call to go M.A.D for Jesus in Today’s Nigeria”, at St. John’s Anglican Church, New Owerri, New Archdeaconry, Imo State, Okorocha decried the increasing level of social ills in the country despite all the lifetransforming words, which people receive from various quarters. He noted that the country needed to re-examine self. Okorocha also decried a situation where huge sums of money were allegedly expended by some politicians i to scale through elections, which are recouped on assumption of offices.

CAN re-elects Okafor Abia chairman From: Gordi Udeajah-Umuahia BIA State branch of the Christian Association of Nigeria (CAN) has re-elected Bishop Goddy Okafor as chairman and other four executives who will serve for three years. Seventy-two delegates from the five CAN blocks and the local council areas who were accredited, took part in the election that had Apostle Joseph Ajujungwa of South-East Zone of CAN as the returning officer at the weekend at St. Finbarr’s Catholic Church, Umuahia. Bishop Okafor of the Pentecostal Fellowship Block of CAN, has Rev. David Chukwu of the Evangelical Church of West Africa as his vice. Others elected were Rev. Father Alex Okonkwuo of the Catholic Secretariat of Nigeria as general secretary; Elder Ismael Dike of the Organisation of African Instituted Churches as assistant secretary and Elder Chukwuma Ogbonna of the Christian Council of Nigeria, as treasurer.

Former Lagos State governor, Bola Ahmed Tinubu, holding a shovel with sand, performing the dust-to-dust ceremony at the burial of his mother, Alhaja Abibat Mogaji, Iyaloja General of Lagos, at the Ikoyi Muslim Vault in Lagos…yesterday. PHOTO: SUNDAY AKINLOLU

“To our utter dismay, the 12 new judges are not qualified under Section 2 of the National Industrial Court 2006, which provides for the appointment of legal practitioners of not less than 10 years standing with ‘considerable knowledge and experience in the law and practice of industrial relations and employment conditions in Nigeria’ or a graduate of recognised university of not less than 10 years standing and has ‘considerable knowledge and experience in the law and practice of industrial relations and employment conditions in Nigeria.’ “We have confirmed that none of the newly-appointed judges of the National Industrial Court met the requirement of the law and, therefore, are not qualified to preside over the industrial relations and labour matters. “We are, therefore compelled, as a major stakeholder in the cases decided by the court, to request for an investigation into the circumstances surrounding the illegal appointment of the 12 new judges of the National Industrial Court by the President based on the recommendations of the National Judicial Council. “More so, that some lawyers who were qualified by law were not shortlisted by President of the National Industrial Court, Justice Babatunde Adejumo, because they are not connected to people in high places”.

Experts decry lack of data on stroke victims From Itunu Ajayi and Omotola Oloruntobi (Abuja) ORRIED by the lack of correct statistics on the number of Nigerians suffering from stroke, experts in the management of the disease have appealed to sufferers to dissuade their minds from the belief that the occurrence of the disease is from their enemies and seek medical intervention as soon as possible. A group of managers of the disease, under the auspices of Stroke Action Nigeria, said during a stroke awareness workshop in Abuja at the weekend, that part of the challenges facing the management of the disease is that majority of sufferers in Africa, including Nigeria, resolve to what it termed ‘spiritual or diabolical means’ in the treatment of the disease with the strong (though unfounded) belief that the incident of stroke can only be an attack from those who hate them. The group said though the country cannot boast of a good statistics and accurate data of sufferers, one thing it is sure of is that every Nigerian has a relative or knows somebody who has had a stroke. It added that what this portrays is that there is high incidence of stroke in the country and people are dying on a daily basis as a result of the untreated disease. The group also lamented that the high cost of autopsy has made majority of deaths in Nigeria un-investigated. This, it noted, directly translates to lack of research, which also hindered advancement in medical breakthroughs. Consultant Neurosurgeon and Stroke Specialist, Dr. Biodun Ogungbo, said the

workshop is geared towards getting stroke ambassadors in every nook and cranny of the country and equipping same on the right knowledge in order to spread the message in Nigeria about the devastating effect of the occurrence of the disease. Ogungbo also said the workshop is to warn on the danger of stroke, give correct information about the disease in order to know what to do when people have a stroke, get them to a hospital as soon as possible and more importantly, prevent the sickness from happening. Ogungbo said as devastating as the incidence of stroke is, it is a disease that is actually pre-

ventable if people are armed with the knowledge of its risk factors. His words: “The major thrust of Stroke Ambassadors is for people who know the truth because we need to be able to get into each home with the correct information about stroke. “They need to stand up and say what causes it and that it is not because someone hates you or is your enemy but because you have been a smoker all your life and you are not taking the necessary precautions. Stroke is an individual thing since the person has not done enough to prevent it.” Highlighting the risk factors of the disease, Ogungbo said most of them are as a result of

the type of lifestyle people choose to live. He said taking little precaution and being mindful of what people eat have a major role to play in the reduction rate of the disease. He added that sickle cell disease, uncontrolled hypertension, diabetes, smoking and obesity are some of the risk factors that can lead to stroke but advised that the situation can be addressed if precautions are taken and medical help is sought in time. Describing stroke as an individual thing, Ogungbo said hypertension, which is the major lead way to stroke, can be controlled by lifestyle changes, weight loss, regular exercises, eating right and little intake of

salt. He said since hypertension is something that cannot be wished away, people should endeavour to take their drugs until otherwise advised by the doctor. He warned that it is a silent-killer, which might not give any notice before it strikes. This, he said, necessitates regular checks with the doctors. In her contribution, Chief Executive Officer of Stroke Action Nigeria, Rita Melifonwu, said the focus is to rehabilitate stroke patients and integrate them back into the society. She said stroke is a very huge problem in Nigeria and the country desires committed volunteers and stoke ambassadors.

UN chief tasks Nigeria on disaster management elected President of the Regional From Oghogho Obayuwana (Foreign Affairs Editor) and Joke Falaju (Abuja) Committee for Disaster Management in West Africa. Nigeria’s position is being filled UILDING on the position of experts on the need to step by the Director General of NEMA, Muhammad Sani Sidi, who was up early warning systems in picked at the 7th annual general Nigeria, the United Nations (UN)’d Undersecretary-General meeting of the committee held in Abuja under the auspices of for Humanitarian Affairs and Emergency Relief Coordination, Economic Community of West African States (ECOWAS) with the Baroness Valerie Amos, says participants drawn from the there is urgent need for more heads of disaster management support for Nigeria’s disaster agencies and international humanagement commitment. manitarian organisations in the Addressing stakeholders on region. conflict and disaster manageSpeaking in Abuja, Baroness ment during her working visit to Nigeria at the weekend, the Amos also called on the organUN chief also solicited stronger ised private sector, civil society organisations and grassroots political will by the Nigerian government in strengthening communities in Nigeria to cooperate with the government’s efthe National Emergency Management Agency (NEMA) in forts to boost disaster manageNigeria’s disaster containment ment in the country by “building structures to reduce risk and inand management index. The UN chief’s comments came crease community resilience.” The United Nations Under as Nigeria was at the weekend

Secretary General said she was confident that Nigeria was capable of handling most of the disaster issues in the country, given the necessary support and cooperation to the organs established for disaster management and to also serve as model for other countries in the region. She noted that the “timely response” given to last year’s flood, which devastated many communities, was “evidence of progress in disaster management that Nigeria must strive to continuously improve in the face of the increasing global disaster.” Baroness Amos said she was in Nigeria to advocate more political support for disaster management and visit some locations of the 2012 flood, which her office had already given some assistance. She disclosed that the United Nations might consider further

assistance where necessary after her visit. Sidi, who is Nigeria’s chief host to the UN chief, urged the Under Secretary General to explore the UN system to “develop the capacities of NEMA and SEMA in terms of acquisition of vital assets, technical training and capacity building.” He said in the effort to streamline emergency response operations during disasters, NEMA had recently developed eight plans, which could be activated and applied according to specific areas of disasters. The agency, he continued, has on behalf of Federal Government of Nigeria, provided relief assistance to several African countries while establishing close cooperation with emergency management and humanitarian actors with other countries.

THE GUARDIAN, Monday, June 17, 2013

6 NEWS

Poly students mourn NANS leaders

INEC moves against multiple registration

Allege extra-judicial killings

From Anietie Akpan, Calabar

From Alemma-Ozioruva Aliu, Benin City HE National Association of Polytechnic Students (NAPS) yesterday commiserated with the leadership of the National Association of Nigerian Students (NANS) over the death of its Senate President, Donald Onukuaogu and four others in an auto-crash last week. They also alleged that 20 of its members have been killed in questionable circumstances in the past three months across the country. Meanwhile, the NANS chapter of the Federal University of Technology (FUT), Minna, has declared today lecture-free day on all campuses in Niger State to mourn the death of its national leaders. A statement yesterday by the President of NAPS, Ogbonnaya Sunday, also called on the Inspector General of Police to retrain police officials on civil relations. The statement said it was the case of the students going to investigate a case of extrajudicial killing in Akwa Ibom State that led to the accident, which claimed their lives.

ARD times may await H electorate with double registration as the Independent National Electoral Commission (INEC) has discovered that 20 per cent of those who registered in 2011 elections were involved in multiple and double registration. Speaking with The Guardian in Eket, Akwa Ibom State, on the need for a free and fair election in 2015, Rivers State Resident Electoral Commissioner, Mr. Aniedi Ikoiwak, said “those who have their names in the voters’ register in the last

election did so because in 2011 after the registration of voters, the period was too close to the election for any correction to be made to the data collated from the field, so what was used for the election was like a raw data”. He said the data then was something INEC took directly from the field to the election, “so some Nigerians, who manipulated the election by doing multiple and double registration, had concluded that the polls were free because they had seen their names. They did not know that it was a raw data”. This time around, he said,

INEC has filtered everything and has come out with an authentic voters’ list, adding that “whenever you register more than once, your name will be deleted, but not actually taken out of the system. Your name will be deposited in the system so that when you bring your temporary card and argue that you have registered and that you have a temporary card, we will still use your pin number to look into the system to know why your card was not printed. And, when we do that and discover that it was as a result of multiple registration, at that point, you would know whether the

law allows you to do so or not. “Multiple voting, like I said, was as a result of the problem encountered during accreditation. Because once the accreditation process is put right, other things will fall in place. Accreditation that will be done in 2015 will identify somebody and accredit that person and there will be no way of altering that accreditation. And, as long as you can’t alter the accreditation, there is no way you can alter the result of the election. It, therefore, means that one person would be accredited at a time. With that, there would

be no way for that person to double vote. That is exactly what is going on. When that is done, it would take Nigeria to a point where police may not be necessary at elections. “It won’t be necessary to bring thugs to come and cause problem because everything you carry, even if you carry ballot boxes, papers, and all the results and run away, it will not still benefit you. Because if you have all the voters’ cards distributed, it means that if you put all the cards in this house, on the day of election, you will still have to bring all the people who own those cards to be able to translate them into vote”.

Imo Assembly signs pact with S’ African parliament From Charles Ogugbuaja, Owerri O foster legislative cooperation, the Imo State House of Assembly and Guateng Province, South African Legislature, have signed a Memorandum of Understanding (MoU). A statement at the weekend in Owerri, the state capital, by the Senior Special Assistant (SSA) to Speaker of the House of Assembly, Dr. Samuelson Iwuoha, disclosed that the ceremony took place in South Africa. He added that the Speaker, Benjamin Uwajumogu, signed on behalf of the Imo Assembly, while the Speaker of Guateng Province Parliament, Mrs. Lindwe Maseko, signed for her Assembly, adding that both Speakers agreed to foster legislative cooperation.

Owie faults planned scrapping of govt’s agencies From Alemma-Ozioruva Aliu, Benin City ORMER Senate Chief Whip, Rowland Owie, yesterday urged President Goodluck Jonathan not to scrap over 200 government-owned organisations as is being proposed, warning that such action would further deepen the unemployment crisis in the country. He commended the President for the recent efforts in resuscitating the Ajaokuta Steel Company but advised him to be wary of those who may be working for the opposition inside his government. Owie said it would be evil and anti-people if people around the President are suggesting policies that would further impoverish the masses of the country to the advantage of the opposition.

President Goodluck Jonathan (middle) testing a guitar presented to him by the 2013 Fathers’ Day organising committee at the Aso Villa Chapel… yesterday

TCN gets N471 million monitoring device From Kanayo Umeh, Abuja

RANSMISSION Company of Nigeria (TCN), one of the 18 unbundled business units under the Power Holding Company of Nigeria (PHCN), has acquired N471 million equipment for monitoring power transmission lines and other electricity distribution infrastructure nationwide. TCN’s General Manager, Design and Construction, Mr. Mike Ezeudenna, said the software would also help in the accurate evacuation of power by the company. He disclosed this in Abuja at a meeting with the officials of Penuel Consulting, the U.S.-based engineering and aerial mapping firm contracted to undertake the project. According to him: “This meeting is aimed at bringing ICT to bear in managing transmission lines, right-ofway, power evacuation and addressing challenges that are associated with power in Nigeria. “In other words, you can sit in the office and monitor what is happening on the transmission lines. It makes

it easy and faster to address challenges like tower collapses and vegetation growth that can breach your lines. It is very important to have the right software and data that can be used to check changes on the lines and make decision-taking easy for you.” Ezeudenna stated that when

completed, the software would make things done faster and more efficiently because of its improved technology. He said: “When you have the coordinates of each power structure, if there is collapse, you don’t need to go far. You can look at it from your loca-

tion and call the necessary persons to locate the place. Speaking with journalists shortly after the meeting, Principal Officer of Penuel Consulting LLC, Timmy Fadiora, stated that the technology would strengthen TCN monitoring mechanism on its transmission lines to

quickly rectify disruptions in power supply. He said: “This is happening for the first time in Nigeria. It is not just to do the aerial mapping, but to actually get the geo-reference, the exact locations of each of those lines and each of those substations”.

Ex-minister, others threaten protest over Suntai From Charles Akpeji, Jalingo IQUED by the seeming reluctance of Taraba State Executive Council (SEC) to declare the ailing Governor Danbaba Suntai incapacitated and confirm his deputy, Alhaji Garba Umar, as the substantive governor, a group, All Well Meaning Tarabans, has threatened to protest the action. Led by the former Minister of Water Resources, Salome Jankada, the group told journalists yesterday in Jalingo, the state capital, that the SEC on which lies the honour to tell the people whether this man (Suntai) is fit or not to continue to run the affairs of

the state, has decided to keep mute.” Wondering why top government officials, especially the commissioners, “have been misguiding people of the state, Jankada added that “no one has been honest enough to come out to tell the people the governor’s true health condition”. Jankada, who is currently a board member of the National Investment Council, stressed the readiness of the group to tread all legitimate paths that would accelerate Umar’s immediate confirmation as governor, stating that “Tarabans are not igno-

rant of the country’s constitution.” She further affirmed that the “Constitution makes it clear that the State Executive Council should be able to tell us Suntai’s health position”, adding that it is our rights as Tarabans to know what is happening to the governor wherever he is because it our money that is being used to maintain him.” Stressing that the governor has been absent from office for almost eight months, the people, she said, “are not illiterates” She added: “I as an elder statesman with all sense of

responsibility, I am making this statement. We are not afraid of Danbaba Suntai’s coming back, it is his state, and we will welcome him. But for people that are supposed to be our representatives to continue to tell us lies and keep shifting the goal post of when the governor will return for their own selfish end, it is not accepted. On behalf of all Tarabans, we say enough is enough.” She called on the Peoples Democratic Party (PDP) and the Presidency to urgently commence the process of swearing in Umar as the governor.

THE GUARDIAN, Monday, June 17, 2013

‘Why food insecurity persists in Nigeria’ From Gordi Udeajah, Umuahia T the second Micheal Okpara University of Agriculture Umudike (MOUA) Umuahia memorial lecture in honour of Prof. Uche Godwin Nzuko Anazodo, (late professor of Agricultural Engineering at the University of Nigeria Nsukka), the causes of Nigeria’s food insecurity was listed by the Rivers State’s Deputy Governor, Tele Ikuru. Ikuru also a Fellow of the Nigeria Society of Engineers (NSE) defined food insecurity in Nigeria as a situation where the people do not have access to food in sufficient quantity and at affordable prices, saying that Nigeria still struggles with providing basic foods to feed its teeming population. “If anyone is to debate why Nigeria is food insecured, a number of factors come to mind, the most important of these is ‘oil’ and the role it has played in re-directing Nigeria from a nation of primary agricultural producer to a nation of food importer”. In the case of oil, he posited that what is critical is how the political leadership and economic power ignored primary production (of food) for easier alternatives such as importation of foods using oil money.

Real estate lawyers hold summit ORMER Chief Justice of FBelgore, Nigeria, Justice Salihu Alfa Justice Minister, Mohammed Bello Adoke, and the Deputy Governor of Delta State, Prof. Amos Utuama, are among the guests expected at the 2013 national summit of the Real Estate Lawyers Association of Nigeria (RELAN). According to RELAN Vice President (Operations), Mr. Adekunle Omotola, the event holds this Thursday at the Metropolitan Club, 15 Kofo Abayomi Street, Victoria Island, Lagos, at 10 a.m. Adekunle added in a statement that the theme of the summit is “Foreclosure Law and Processes in Relation to Mortgage Security in Nigeria.” According to him, the lead speaker on Legal Perspective is the Dean, Faculty of Law, the University of Lagos, Prof. Imran Oluwole Smith (SAN), while the Managing Director, Aso Savings & Loans Plc, Mr. Hassan Musa Usmam, is the lead speaker in Lender’s Perspective.

Emir urges Kwara indigenes to sustain Saraki’s ideals From Abiodun Fagbemi, Ilorin HE Emir of Ilorin and Chairman, Kwara State Traditional Council, Alhaji Ibrahim Sulu-Gambari, has called on the indegenes of the state to sustain the legacies and principles of the late Dr. Olusola Saraki for greater development of the state. Speaking on his behalf at the weekend, the Mogaji Nda of Ilorin, Alhaji Salihu Mohammed, who paid a courtesy visit on Senator Bukola Saraki at his Ilorin residence alongside other senior emirate members, said the senator has done excellently for the state since the demise of his father. According to him, people could only criticise the late Saraki but not fault his decisions and people-oriented ideologies. He noted that during his life-time, Saraki aided so many people into positions of authority without looking back, and that since his death, his dynasty has not changed.

NEWS

NDLEA laments inaccurate data on Nigerians jailed abroad for drugs By Bertram Nwannekanma HE National Drug Law Enforcement Agency (NDLEA) at the weekend lamented the inability of Nigeria’s Foreign Affairs Ministry to comply with the provisions of Section 45 of its Act, a development, which it said has resulted in non-accurate statistics of Nigerians in jail abroad for drug related offences. Section 45 of the NDLEA Act mandates all Heads of Nigerian Diplomatic Missions abroad to furnish NDLEA with the statistics of Nigerians in jail abroad for drug related offences every six months. NDLEA through its Director of Prosecution and Legal Services, Femi Oloruntoba said the Foreign Affairs Ministry’s failure to ensure compliance with the provisions of the law, has hampered the agency from gathering accurate statistics. Oloruntoba stated this in Lagos at a workshop organised by the National Association of Judicial Correspondents (NAJUC). The workshop was with the theme: “Government Agencies and Enabling Laws: Review & Overview.” Oloruntoba, who was represented by Yohanna Mshelia, an Assistant Director with the NDLEA, also accused some foreign countries of failing to co-

operate with NDLEA in that regard. According to him: “Lack of cooperation from some foreign countries particularly the Western World is also a major concern. These countries refuse to provide relevant information relating to Nigerians involved in drug trafficking in their countries on the grounds that double jeopardy exists in Nigeria – Decree 33 of 1990.”

Besides, Oloruntoba pointed out that the absence of drug enforcement officers in Nigerian Missions abroad also constitutes a major factor in the non-accurate statistics of Nigerians in foreign prisons. According to the current statistics available to NDLEA, over 600 Nigerians were arrested in Thailand in 2002 for drug related offences, out of which 521 were transferred to Nigeria between 2003 and 2008.

Russia arrested about 229 Nigerians in 2001 and none has been transferred to Nigeria, while between 2003 and 2004, Indonesia arrested 40 Nigerians out of which none has been transferred to Nigeria. In 2004, 25 Nigerians were arrested for drug related offences in Italy and none of these Nigerians has been transferred back to the country.

Oloruntoba added that in Pakistan, only statistics of Karachi Prison was available, and the said statistics revealed that 226 Nigerians were arrested for drug related offences in 2006. According to him: “A better statistics may be available with the Ministry of Foreign Affairs. At present, what the agency has are figures obtained when on visit to the relevant countries.”

Democracy has ushered in progress, says Abubakar From Isa Abdulsalami Ahovi, Jos ORMER Military Head of State, Gen. Abdulsalami Abubakar, has said that despite the turbulent challenges facing democratic governance in Nigeria since 1999, the country has made tremendous achievement and progress. Abubakar who handed over power to a democratically elected government in 1999, noted that he was optimistic that the country was going to strive well in the democratic process when civilian rule came on board. He stated this in an interview with journalists in Jos yesterday shortly after a condolence visit to the former Deputy

Governor of Plateau State, Dame Pauline Tallen over the death of her father, Pa Paul Kattiem at the age of 102. According to him, “Politics any time is a growing process, we are learning and I think we have come a long way from 1999. Well, the journey has been turbulent but things are moving”. He described the prevailing security challenges that have bedevilled the country as unfortunate and called on Nigerians to join hands with President Goodluck Jonathan to stem the insurgency by exposing the perpetrators. Abubakar said, though security was everybody’s business, he expressed satisfaction that in the last one year, the situa-

tion has been calm and prayed for permanent peace in the North and in the country at large. He stated: “The security situation in the country, I will say in the last one year, things have improved a little bit. It is step by step. It is unfortunate that we find ourselves in this situation up to the extent that a state of emergency has been declared in some states. Hopefully, Nigerians will join hands to ensure that we bring peace to our country. Peace is the responsibility of each and every one of us, we have a role to play. As I said, all the perpetrators of mischief live among us. They are our brothers, they are our sisters. We have to play our role by reporting

such miscreants to the proper authorities.” On that note, he urged the media to exercise its social responsibility by reporting issues that will unite and bring peace in the country rather than overheating the polity. “You have a responsibility, you can educate our people, you can inform our people but please when you are doing that, do it in a responsible way. Do not inflame situations, you should find ways of reporting issues without exaggeration.” He called on citizens of the country to learn to live and stay peacefully with one another stressing that no country strives in an atmosphere of rancour.

NMA lauds Abuja varsity’s council over accreditation crisis From Mohammed Abubakar, Abuja OR taking bold steps to end the recurring accreditation problem confronting the Medical School of the University of Abuja (UNIABUJA), the Nigerian Medical Association (NMA) at the weekend commended the institution’s new Governing Council, headed by a two-time governor of Edo State, Dr. Samuel Ogbemudia. The National President of the association, Dr. Osahon Enabulele, in a chat with The Guardian in Abuja, warned that NMA would take steps to ensure the experience of the Abuja University students was never replicated in any part of the country again, saying, “We think there has to be a stop to this kind of development and we are committed towards ensuring, as leaders of the profession of medicine, that this never happens again.” Enabulele acknowledged though that the steps taken so far to permanently resolve the accreditation crisis was an indication of the determination of the Ogbemudia-led Council to move the institution forward. However, he challenged the Council to ensure that the action was not a flash in the pan, but a sustained one, “because Abuja University is meant to be a shining example located in the FCT to all other institutions in Nigeria and even neighbouring countries. So we have reasons as Nigerians to be concerned about the fate of this institution. So we want to say that for us an organisation, we are committed to the process of getting back the University of Abuja and indeed the faculty of medicine back on track.” The institution had been embroiled in crisis since June 3 and 4, when the students of the College of Health Science of the

university embarked on violent demonstration to protest the non-accreditation of the College by the Medical and Dental Council of Nigeria (MDCN). The Council rose from its 27th extra-ordinary meeting last week and constituted a threeman Ad-hoc Council Committee to follow and ensure the timely implementation of the approved measures to secure accreditation within the shortest possible time. Besides, The Guardian gathered at the weekend that, to ensure that the university is well prepared ahead of the final verification visit of the MDCN to the institution on July 4, the Council has

approved about N20 million for the upgrading of the proposed Dobi Primary Health Centre to be used as clinicals by the students. The facility was donated to the university by Gwagwalada Area Council of the FCT. In addition, it has given express approval to the management to conduct interviews for teaching staff to be recruited before the end of this week. The interview begins tomorrow and is expected to be concluded by Thursday. Recruitment of qualified teaching staff and upgrading of the Dobi facility were some of the major observations MDCN made when they embarked on accreditation visit to the institution in

October last year. Enabulele said the association believed the steps taken by the Council by addressing the root cause of the problem by identifying what went wrong would tackle the problem once and for all. According to him, “One is happy that we have a Governing Council as presently constituted for the University of Abuja that has demonstrated openness that has shown sincerity; that has shown transparency and the commitment to solving the problems, that is the first point that gives us hope, because if you do not realise that you have a problem, then you honestly cannot solve that problem, but once you identify the

problem they say the whole thing is half solved. “We think that even with that commitment towards accepting that there is a problem, that process already has begun. Secondly is the fact that the Governing Council has rightly placed the issues in the proper perspective in terms of identifying the weak links in the system that has engendered this unnecessary conflagration, which is avoidable in terms of managerial inefficiencies and it has resolved together his member to plug those managerial deficiencies, because it was unnecessary to throw students into this kind of state, students to be in the school for eight years.

THE GUARDIAN, Monday, June 17, 2013

WorldReport Iran’s new president hails victory for ‘moderation’ HE newly elected President T in Iran, Hassan Rowhani has lauded his presidential election win as a victory over “extremism” as jubilant supporters took to the streets, pinning their hopes on an easing of Western sanctions. But following his victory, major powers quickly offered to engage with the moderate cleric and former nuclear negotiator, who has promised a more constructive approach to talks. Also, Saudi King Abdullah yesterday congratulated the moderate cleric on his election as the new president of the Iran, the kingdom’s Shiite rival across the Gulf. “We are glad to congratulate you in the name of the people and government of Saudi Arabia... wishing prosperity to the people of the brotherly Islamic republic of Iran,” King Abdullah told Rowhani in a letter carried by the official SPA news agency.

U.S. wants N’Korea’s talks to be ‘real’ NITED States (U.S.) has welU comed North Korea’s proposal for high-level negotiations but said it must first curb its nuclear programme and would not be able to talk its way out of global sanctions. Agency reports quoted White House Chief of Staff Denis McDonough as saying negotiations have always been the administration’s “preferred outcome” but that such talks would have to be “real” and “based on them living up to their obligations.” “We’ll judge them by their actions, not by the nice words that we heard yesterday,” he told CBS News’ “Face the Nation” when asked about the offer of high-level negotiations on the denuclearisation of the divided peninsula.

Pope blesses bikers at St Peter’s Square UNDREDS of HarleyH Davidson enthusiasts from all over the world received the pope’s blessing yesterday, drawing cheers and applause from pilgrims who gathered in St Peter’s Square for a pro-life mass. Pope Francis, riding through the throngs aboard his popemobile, made the sign of the cross toward the bikers, who are in Rome as part of the European celebrations of Harley Davidson’s 110th anniversary. The pontiff, who accepted two Harley Davidsons and a jacket from the bikers on Wednesday, addressed them again during his weekly Angelus prayer, saying: “I greet the many participants in the Harley-Davidson motorcycle assembly.” Some 35,000 bikers had gathered in the Italian capital by Friday, enjoying rock concerts by artists such as Adam Ant and Bonnie Tyler at Ostia beach outside Rome as well as taking part in a parade.

Canada’s concerns for Nigeria, by envoy Canada’s High Commissioner to Nigeria, Chris Cooter, has argued the need for Africa’s most populous country to take its destiny in its own hands by confronting identified challenges facing it. Some ways of meeting the challenges, according to Cooter, are vocational training and massive investments. He spoke recently during a visit to Edo State, where among others, he met with civil society groups. The Guardian’s Alemma-Ozioruva Aliu was there. tion because of hundreds of thousands of Nigerians have to go without electricity. So, human rights and democratic we are trying to help Nigeria that. development. The Canadian with For employment, that has to government has been a strong advocate of three of do with education. Canada those not only in Nigeria but used to have a very big proalso all around the world for gramme called CUSO. It many decades. Canada was absorbs 40 per cent of our the only country to close entire development assisdown its High Commission tance to the whole world. We during the 1990s in protest of used to send teachers here, we abuses of the Abacha dictator- used to send up to 200 teachship. When we re-opened, we ers a year. Many people come re-opened to celebrate with to me today to commend that you the return of democracy programme and want it re- Cooter and we’ve continued to sup- instituted. But unfortunately, were inspired by what we port your democracy. In fact, I that programme has run saw here (Edo) two years ago just met the chair of INEC down; we are looking for and I am very hopeful that something else. The problem Professor Attahiru Jega last will come on line very shortisn’t employment; the probweek to work with him again ly. in supporting the institution lem is the skill to meet that The very concrete level here employment. You’ve got of INEC so that you have betin Edo State is that your govter elections in 2015 and of employers, you’ve got governernor; by the way I have seen course, the state elections. In ments saying ‘look, we ‘ve got more evidence of good work the meantime, they have these works, you’ve got works here; the schools, the roads… improved by 2011 and we booming but many don’t have I have been in and out three the skills required. Very few hope they will be much better times and each time I come, I have the skills that allow them in 2015 and we have asked to see new improvements. dedicate almost $5 million to take advantage of the opporUnfortunately, I am not able tunities. In a few days time, that process so we will be to meet the governor on this working with him closely to your employers association trip and I met him recently in promote democracy. will be in Canada along with Abuja. But we’ve been talking the ITF, which is looking at On human rights, our counfor sometimes about helping try has again taken a firm vocational training, and I am with your vocational trainvery hopeful that we have a stance and like our minister ing system here in Edo State, large project here to establish was saying, we must go on to particularly in the Benin get along. There are issues a model for vocational trainTechnical College. The coling. that we don’t agree with yet, The critical need in Nigeria – lege was actually built by the we hope the country will join government of Alberta, with us. We know that the every part of the country and which is one of our it is not only in Nigeria alone, Federal High Court is deliberprovinces, we don’t call them ating the cases of death sen- we have it in Canada too and states, it was built in the many other countries around tences and we have opposed 1970s. I went to look at it and that. But we are opposed to the world – is getting the skills it looked identical to the the death penalty. We think for you to match the demands school that I went to in and not just any skill. You can’t that the state should give fair Canada in the 70s. That is fine trials, should provide just and just go to the college and say I except that it hasn’t moved appropriate punishment. But want to be a carpenter and on since the 70s; it has no then you finish your course, we think as do most countries computers, it still has the in the world that death penal- you get your certificate and Canadian flags on its equipthen find that all the jobs are ty has come and gone and ment. And I have to say good that in today’s world, it is no gone. What we do in Canada is equipment because they are longer appropriate. We hope that our college system prostill working 30 to 40 years duces 95 per cent of those in that that will also be the case on but they are not that still in Nigeria. So, we stand with computer colleges to have a relevant to your job market. those of you and most of the job in six months and most of So, I was in Canada few weeks them have a job even before countries in the world in ago. I met with the governor opposing that. they graduate because the of Alberta, a former prime people, the employers work Canadian view of the chalminister, Joe Clark come lenges confronting Nigeria with the system to say we from Alberta; he was in There are a number of chal- want this or that and they Nigeria. I got him interested work with the colleges to prolenges. Haven been in this in it and I am very pleased. I country for three years now, I duce the curriculum and the haven’t even told the goverwill say among the challenges skills. So, when the people nor this yet that we are workgraduate, the jobs are there; are three Es, employment, ing with a group of Alberta electricity and equity. They all they don’t just sit down and colleges to come and help waiting for somebody to call. have relevance with civil sociyou with your vocational ety. Canada has a certain role They’ve been put there training system here. They in electricity; a Canadian already. That is the model we are five colleges maybe they want to bring to Nigeria and I Hydro company is working to can mentor, they can provide put the light on in that direc- am very proud to say that we assistance, equipment is part of it but really it is the techI think everyone was happy about the election that took place nique. How do you get students going into the colleges recently. Good governance really matters and I think it is the fundamental guarantor of human rights. And you see that you so that they can get employat the end of the day? are getting good governance now and you can see the differ- ment On human rights and ence. I have travelled now to 29 of your 36 states plus the democracy I think everyone was happy FCT and I can tell you that it has really made the difference. ANADIAN bilateral relaC tions with Nigeria today We start with civil society,

about the election that took place recently. Good governance really matters and I think it is the fundamental guarantor of human rights. And you see that you are getting good governance now and you can see the difference. I have travelled now to 29 of your 36 states plus the FCT and I can tell you that it has really made the difference. Here with me today is civil society; civil society is absolutely critical to the advancement of human rights because the bar keep rising on human rights – we don’t stay where we were. In the 50s, that was the bar, we were not talking to each other because the black and the white people weren’t talking together. In those days, women and men were not equal and so on so; the bar keeps rising so it requires civil society working with its partners in other countries to keep raising the bar to further advance human rights. The private sector has a role too; it is really important role. The employers have a role to play in respect of whom they hire, the kind of practices they employ in providing jobs that is about human rights too and the third thing is governance. So state of governance is really critical. We have seen improvements, it doesn’t mean you have to have a revolution, it just means you need more transparency, a bit more of good governance to make a big difference in the lives of people so I have seen that in Nigeria since I arrived. It is never a straight path. It isn’t in Canada. It is a path that requires lots of people to work together but I am confident that Nigeria and this state, Edo, can make a lot of progress. We’ve had a great year so far, between Canada and Nigeria. We’ve established bi-national commission. We have had three ministers visit. We’ve had an enormous investment conference in Canada just few weeks ago; over five hundred Nigerians went. We’ve estab-

lished investment in Nigeria but the most important thing is that we are building a foundation to work together in a way we have never done before – that is brand new. And like Asiru, your foreign minister put it very well when he was in Canada, you’ve got a partner now and we are going to stand together. When it comes to facing the challenges, we will stand up for each other and we will work together. Current situation on trade and investment in mining What we were able to do at the investment conference in Ottawa where your Vice President met our Prime Minister was that we signed an agreement; foreign investment protection agreement. That agreement provides insurance to companies that are going to invest here in a big way that there investment will be protected on the face value. I don’t think there is a threat to investment in Nigeria anyway, but it provides a signal for companies that are used to working in many countries around the world that there is a safe investment environment here and that is an important step. Your Mines Minister was in Canada for the world largest prospectors’ conference that took place in March. I think the signals are coming more powerful now. We have to be realistic on mining; commodity prices have started to come down worldwide. There is less demand from China these days and so they look at not a year or two, they look at five, 10 years for the mining companies. They have to be sure of their investment and this investments from Canada can be anywhere between one to $10 billion from mining. Many of our companies are here and many more want to come. I went to Vancouver and there alone, I met over 20 companies there interested in working here and they want to do training. They know they have to do training of people; they also know that there is corruption, and if caught involved in corruption, they are going to go to jail in Canada, They are conscious of CSR issues. State of emergency We stand with Nigerian in opposing all violence; all forms of violence. We pledged with the launch of our binational commission in October to develop security cooperation with Nigeria. We’ve already started doing that - for instance, in the area of training. We’ve had a lot of training from Afghanistan; we’ve got a lot of our troops there as part of NATO for about 10 years. But the important thing is that you need to take a holistic approach because even if the source of terrorism is not poverty, is not inequality, it feeds on that and so that is something we’ve taken our position on.

THE GUARDIAN, Monday, June 17, 2013

20 Years After June 12

Kalu, Kuye, OPC want restructuring of the polity By Seye Olumide and Banji-Bola Idowu ORMER Governor of Abia State, Chief Orji FNigerian Uzor Kalu, former President of the Bar Association (NBA), Mrs. Priscilla Kuye and National Coordinator, Oodua Peoples Congress (OPC), Otunba Ganiyu Adams have called for the restructuring of the country. In this wise, they emphasised the need for Nigeria to convene a national conference where all ethnic nationalities would have the opportunity to discuss the way forward for the country. At an event to commemorate the June 12, 1993 anniversary organised by the OPC, Kalu, who delivered a paper, entitled, 20 Years after June 12: Options for Survival, said the country was in dire need of a credible electoral process, as it has become jinxed when it comes to elections. He, therefore, challenged the National Assembly to amend the Electoral Act, to provide for holding elections in one day, instead of the present staggered arrangement. He said: “My challenge to our lawmakers is that the Electoral Act should be amended to provide for holding all elections in one day. “Let all elections, including houses of assembly, federal legislature, gubernatorial and presidential, hold the same day. “That is the best global practice today, and Nigeria should adopt that option. It will be cheaper, ultimately, for the country. “Holding elections in one day will eliminate the bandwagon effect that characterises our polls today, in which people have seen the direction of victory and simply follow in that direction.” Kalu also advocated that Nigerians in the Diaspora, who were eligible to vote, be given the opportunity in the 2015 elections.

He said the June 12, 1993 presidential election, won by Chief MKO Abiola of the Social Democratic Party (SDP), was acclaimed to be the freest election ever held in Nigeria. “On June 12, 1993, Nigerians shunned all tendencies that had always divided us as a people, and voted for change, for a new dawn,” he said. To Mrs. Kuye, Nigerians deserved to have good governance where social infrastructure would be available with full assurance of security. She noted that the June 12 election had become a historical fact Nigerians could not afford to sweep under the carpet, “as it represents free and fair election.” Emphasising the need for the ethnic nationalities to dialogue, Kuye said that while Nigerians were putting government

to task, the people should also endeavour to demand accountability from public officers and not allow themselves to be deceived with tokens when politicians are seeking their votes during election. She added that the June 12 election and the acclaimed winner, the Chief MKO Abiola “remain a symbol of unity, progress and hope for the nation.” She also called on the present administration to promote peace and unity in the country. Adams said June 12 “represents ballot integrity” in the country. According to him: “It (June 12, 1993) was a day that Nigerians spoke with one voice and went beyond primordial interests. “While we continue our fight for justice, fair play, Nigerians must rededicate themselves

to genuine democracy and work for a better and greater country that we can all call our own.” On why the June 12 election has remained symbolic 20 years after, the OPC leader said the election was generally agreed to be the freest and fairest in the country. “It was also the most peaceful and one that united the citizens both Christian and Muslim,” he said. On the issue of security, Adams drew the attention of President Goodluck Jonathan, saying, “it has remained endemic and undesirable.” “Unless the security problem is tackled headlong, we will continue to witness low or absent of foreign investment in the country,” he warned.

Kalu

Kuye

Adams

Edo council chairmanship candidate cries out over ‘inconclusive’ poll Twice Mr. John Yakubu claimed to have won the election into the chairmanship position of Esan North East local government council of Edo State, and twice, the State Independent Electoral Commission (EDSIEC) held otherwise. Now the second month on, he told Alemma-Ozioruva Aliu in Benin City that the electoral body shouldn’t wait any longer to conduct fresh election, if that is its desire, into the lone council seat. HAT is your position on the W inconclusive local government council election in Esan North East? Let’s first correct the impression that the election was inconclusive. The local government election that was conducted in Esan North East local government on the 24th of April was conclusive. We concluded the election at about 6pm; the results were ready from the 106 units of the local government. So, to say that the local government election in Esan North East is inconclusive is not right. That is why the people of the council, this time not the PDP, every individual is calling for the release of the results. We are still wondering why the results were cancelled because the results from the 106 voting units, as I speak to you, are with EDSIEC; part of those results is with the police. We have our own result sheets because after every election in each of the units, you are supposed to place one on the wall, give one to each of the political parties, and then give one to the police. We have our own, the police have theirs and EDSIEC, as I speak today, has its result sheets. So, I really don’t know when they said the election is inconclusive. It is pity that a very successful elec-

• Says, ‘I don’t want my election to be another June 12’ tion, a very transparent election, a very credible election was cancelled by EDSIEC and that is why till today, the people of Esan North East local government are saying, please, give us our results. We are still waiting for the release of those results by EDSIEC; they have not advanced any good reason why that election was cancelled. But there is claim of two sets of results … I want to know whom they mean by unauthorised persons. Which party agents, is it PDP party agents or ACN party agents? This is the unfortunate thing. The EDSIEC chairman speaking was not in Esan North East local government; he had asked somebody to represent EDSIEC in the council and that person ran away, absconded from duty and those results were never collated by the same person who was supposed to collate them. As I said, we had 106 units and those results as at that day by 6pm, were still with the presiding officers, who had concluded the election, announced the results in the (polling) units and were waiting for the Collating Officer to collect the results. They gave our copy to us, they gave ACN their copy and they gave the police their copy. So, I really don’t know where the said two results are coming from. Probably, they were cooked up in Benin by EDSIEC themselves or by the chairman of EDSIEC and he is telling the world there were two results. As I speak with you, you can go to the police station; they have every result sheet from every polling unit; we have ours, and they have theirs. I am surprised — and it is a pity — that EDSIEC that ought to be an unbiased umpire is behaving like this. But don’t forget you really cannot

separate EDSIEC from the ACN. We cried out even before the election that EDSIEC was conducting the election with card-carrying members of the ACN but nobody listened. As I speak, I expect the election DPO of Uromi Police station to have the returning officer arrested because we complained officially that the person appointed by EDSIEC to collate results was nowhere to be found. The Police Commissioner was there to monitor things himself. Wasn’t there ballot boxes and ballot paper-snatching on Election Day, as alleged? Well, the election was peaceful, the election was free, and the election was credible. The only ballot box that was seized was by an ACN chieftain, who was arrested by the police. He snatched a ballot box from his unit and it was recovered from him, and we thought he was going to be prosecuted but as I speak to you, he is walking free in the streets of this state. He is an ACN member; he snatched a ballot box but the villagers held him until the police came. Outside that ballot box, no other ballot box was taken on Election Day. The people voted freely. There was no fighting; there was no harassment. The only thing the ACN returning officers refused to do was to collate the results when they discovered that we were winning. Immediately they realised that John Yakubu was winning the election, they absconded. They ran away, came to Benin City and started collating a fake result and that is what they are calling a second result. My pain is that they’ve taken us 60 years backward. Can you really say it’s the fear of your winning that led to the crisis? It is the fear that we have won; it is the fear that PDP has won that led to

Yakubu the cancellation of the election; they waited till 4pm the next day because the returning officers refused to collate the results. They were left in the police station for 24 hours because they could not take them to their houses; they waited for the returning officer, who absconded. It was around 4pm on the 25th of April; that was when we started hearing that Ogor (Solomon) was announcing the cancellation of the results in Benin City even when the election was peaceful. Somebody was shot in Owan West and killed; yet, the results there were released. Two persons were shot in Etsako East, and the results were released. Snatching of ballot boxes was the order of day in Igueben on Election Day, but results were released. The ACN thugs that came to Uromi were arrested and taken to Benin; by now, they should have been taken to court for prosecution so that we will know their masters. They came with guns; they came with cutlasses. Uromi people voted and they pro-

tected their results. In the light of this, what will you say about the agitation for local government autonomy? I have always supported local government autonomy because local governments, as they stand today, are an appendage of the state governments; the councils are not free. The only things that can save local government administrations are their autonomy and INEC, and not state electoral commissions, conducting their elections. Outside the 1999 elections that were conducted by INEC into the councils where even in Edo State we had about five local governments to the then APP (now ANPP) and two other political parties, if local government is autonomous today, democracy will thrive in Nigeria. Will you contest if EDSIEC fixes a date for another election in your council? This is the second month and nothing is coming from EDSIEC. The council is static; nothing is going on and they are depriving the people of Esan North East of the dividends of democracy. Let me say this: If election is conducted today, John Yakubu and the PDP will go in for the election because the people, who voted for me, are ready to vote for me again and again; we are waiting for them. This is the second month; what are they still waiting for to conduct election in one local government? Or do they want this to be another June 12? No, it shouldn’t be. I won the election twice, and the EDSIEC “cancelled” the results on each occasion. I don’t want my victory to be permanently annulled like June 12. If they want to conduct another election, they should do so now. My people are waiting; they will vote for me, and the PDP any time, any day the EDSIEC decides to end this rigmarole.

THE GUARDIAN, Monday, June 17, 2013

TheMetroSection Mogaji… farewell to an Amazon of the market

Briefs GIC holds graduation LOBAL International College G (GIC) will tomorrow and Saturday, hold graduation ceremonies for 200 students in Lagos and Abuja respectively. All graduating students are proceeding to World Class Universities in UK, USA, Canada & Hungary. Dignitaries expected to be at the 14th Graduation Ceremonies at the Lagos campus include Pastor Ituah Ighodalo, Mr. Christopher Cagney (University of Hull); Mr. Dan Ertwistle, University of Essex and others. At the Abuja Campus, Alhaji Bello Maigari, a director of the National Trust Fund is expected as the Chairman.

RELAN holds summit

HE Real Estate Lawyers AssoT ciation of Nigeria (RELAN), will on Thursday, June 20, hold

Oyo State Governor, Abiola Ajumobi (left), Speaker, House of Representatives, Aminu Tambuwal, Tinubu, Ogun State Governor, Ibikunle Amosun and Tinubu’s wife, Oluremi at the burial PHOTO: SUNDAY AKINLOLU ...yesterday By Tope Templer Olaiya, Kamal Tayo Oropo, Seye nor of Ogun State, Senator Ibikunle Amosun, his counterpart in Oyo Olumide and Tunde Akinola

MIDST joy, tears and emotions the A body of the President-General of the Association of Nigerian Market Women and Men and mother of former governor of Lagos State, Asiwaju Bola Ahmed Tinubu, Alhaja Abibat Mogaji was interred yesterday at theVault and Garden Cemetery, Ikoyi, Lagos. The burial was described as one of the unprecedented events in Lagos as the entire axis of Lagos Island, Obalende and part of Ikoyi were held to a standstill while thousands of market men and women, politicians and others struggled to witness the final home call of their leader. There was a traffic gridlock from the entrance of the Lagos Central Mosque to the foot of Carter Bridge. The same scenario was also witnessed within Ikeja where the reception was held at Lagos Television premises in Agidingbi. At exactly 12:15pm, the body of the late grassroots politician, arrived at the Vaults and Garden, a private cemetery in Ikoyi area of Lagos in an ash colour TOS Funerals Mercedes Benz wagon, where a large crowd of supporters, family members, associates and journalists were anxiously waiting. Tinubu, clad in a white flowing lace and his trademark cap, was flanked by his wife, Senator Oluremi Tinubu, Speaker of the House of Representatives, Hon. Aminu Tambuwal, Gover-

State, Senator Abiola Ajumobi, Governors Kayode Fayemi of Ekiti, Adams Oshiomhole of Edo State, Minority leader in the House of Representatives, Hon. Femi Gbajabiamila and other close family members. At 96, Alhaja Mogaji was said to have died peacefully in her residence, 10 Sunday Adigun Street, Alausa Ikeja, on Saturday evening in the presence of some family members who found it difficult to believe. “She wasn’t ill, neither did she show any sign of ailment. Her death was graceful and peaceful,” said one of the children. Prayers were offered for her at the Lagos Central Mosque, Lagos by the Chief Imam of Lagos State, Alhaji Garuba Akinola, who was represented by Alhaji Mujitabah Giwa. In his sermon, the cleric said there were many things to emulate in the life of Mogaji as she lived an exemplary life worthy of emulation and urged all to emulate her good virtues. “God owns our beginning and the end. She had impacted much in the lives of the people positively and her life was worthy of emulation,” he said. The service at the mosque ended around 11:30 am while the body of Mogaji was taken to the cemetery in a white coffin but she was removed from the coffin before being lowered into the grave in accordance with Islamic injunction.

a National Summit at Metropolitan Club,15 Kofo Abayomi Street, Victoria Island, Lagos at 10.00am. According to the Vice President (Operations) RELAN, Mr. Adekunle Omotola, the lead speaker on legal perspective is Dean, Faculty of Law, University of Lagos (UNILAG), Prof. Imran Oluwole Smith (SAN) while Managing Director, Aso Savings and Loans Plc, Mr. Hassan Musa Usmam is the Lead Speaker in Lender's Perspective. Justice Salihu Modibbo Alfa Belgore, Justice Minister, Mohammed Bello Adoke (SAN) and Deputy Governor, Delta State ,Prof. Amos Utuama (SAN) are among the guests to grace the summit.

Edo State Governor, Adams Oshiomhole (left), former Secretary General, CommonWealth Chief Emeka Anyaoku and Chairman, Action Congress of Nigeria (ACN), Chief Bisi Akande at the

Security agencies had their hands full trying to control the surging crowd, especially market men and women that thronged the area to catch a glimpse of the laying to rest of late market leader. At exactly 12:30am, her body was taken from the white coffin, wrapped in a white cloth and interred amidst prayers and chants of ‘Allahu Akbar’ from the Muslim faithful. Speaking to newsmen shortly after the interment, Tinubu relived her last moments saying that she was healthy until her death. “On Saturday afternoon, she had her lunch. After that, she used her drugs and rested. While resting, death came and snatched my mother away. Well, immediately she died, I felt her void. One cannot but look at his mother being buried”. He said though he was going to miss her motherly care, he was glad she lived a successful life. Other top personalities who graced the brief ceremony include, former Deputy Governor of Lagos State, Femi Pedro, former gubernatorial candidate in Lagos, Senator Musiliu Obanikoro, former Governor of Ogun State, Chief Segun Osoba, Femi Okunnu, Niyi Adebayo, Alhaji Aliko Dangote, members of the Diplomatic Corps, amongst others. On his part, Speaker of the House of Representatives, Hon. Aminu Tambuwal described late Alhaja Mogaji as a “great woman and a great mo-

biliser of women and an advocate of people’s right”. He continued, “Her socio-economic contribution to the nation will definitely be missed. She has left a vacuum in the nation. She was a special gift to this country”. Tambuwal urged other market women in the country to emulate the late Iyaloja, saying “they should be fair especially in the way they fixed price for their commodity. Business mogul and Africa’s richest man, Aliko Dangote, said of late Mogaji, “Each and every one of us will die one day, one thing we can do is to pray for the repose of the soul and remember the good things she did while she was alive to her community, the state and to Nigeria in general, we pray Almighty Allah will grant her soul rest. Former Governor of Ogun State, Otunba Segun Osoba, also said: “I can tell you she was a great politician and one of the staunch supporters of Late Obafemi Awolowo and I am glad that his grandson, Segun Awolowo is here today to represent Mama Awolowo and the rest of the family to show their love and appreciation”. Former Chief Press Secretary to Tinubu and Chairman of Ejigbo Local Council Development Area (LCDA0, Mr. Kehinde Bamigbetan said her role as a grassroots mobiliser and a coordinator of market men and women in the last 50 years, stood her out amongst her equals.

Day of African Child HE Day of the African Child, T organized by Abdul-Hameed Oladipupo Alli, an aspirant for the chairmanship of Ilorin West Local Council of Kwara State, with the support of Dr. Aliyu Salman (SAN) was marked yesterday in Ilorin, Kwarra State. . Some journalists, according to the organisers, were given awards at the event.

Roberts, 86, for burial TUNBA Eddy Ibipomi O Roberts, patriarch of the Roberts family of Ondo kingdom, has died at the age of 86. Funeral rites begin with a Commendation Service on Thursday, June 20, at Christ Anglican Church, Orisunmibare, Bodija, Iso-pako, Ibadan at 9.00 a.m to be followed by a wake at his residence, Ajiladetu House, Akinjagunla, Ondo Town at 5.00 p.m. Funeral service holds on Friday, June 21 at All Saints Anglican Church, Ogbonkowo, Ondo at 10:00 a.m. followed by interment at his residence. Thanksgiving Service holds on Sunday, June 23 at All Saints Anglican Church, Ogbonkowo at 10.00 a.m. He is survived by many children and grandchildren including Mr. Edmund Adedapo Roberts.

‘Fond memories of my mother,’ Tinubu PEAKING to newsmen shortly after the SLagos interment, the former governor of State recalled some of the fond moments he spent with Alhaja Mogaji, saying that she inspired him greatly during his eight years reign as Governor of Lagos State “I miss her lunch even when I am full. I am very happy that she is my mother. She is a very successful mother. She is a good leader. She didn’t put anyone in suffering before she departed from this world. She is so kind and the God was also kind to her. She is a good thinker, passionate and compassionate. She has left a very good legacy for everyone”. He said he took solace in the fact that she impacted in all those she came across during her 96 glorious years on earth. “She was the one who asked me to look at the face of three women who had the chal-

lenge of paying their children’s West African Examination Council (WAEC) fee, which touched me. It isn’t the amount of money I pulled out of my pocket but as a Governor then, I began to the policy of paying WAEC fee of pupils in Lagos state public schools. Those are the things that will fascinate anyone about my late mother”. “She taught everyone she came across contentment, love and the act of sharing especially to the needy. The former governor said there were many lessons women could learn from the life of Mogaji, saying that “as women leaders of the society, they have to continue to plan together, share issues, share discussions and look at the right direction. Commitment to the education of their children is the best weapon against poverty and ignorance. Once you get out of that, definitely the nation will benefit and What a kiss! Mother and son, during her 95th birthday...last year progress.”

Roberts

METRO 13

THE GUARDIAN , Monday, June 17, 2013

Photonews

Akwa Ibom State Commissioner for Environment & Mineral Resources, Enobong Uwah; Deputy Governor, Valerie Ebe; General Manager, Operations, Mobil Producing Nigeria,Oladotun Isiaka and Head of Civil Service, Akwa Ibom State, Cecilia Udoessien during the launch of ExxonMobil-sponsored Ibom Programme on Environmental Awareness (IPEA) in Uyo...

Deputy Speaker, House of Representatives, Emeka Ihedioha and Chairman of the occasion, Prof. Anya O. Anya during one-year memorial colloquium and presentation of the Prof. Onwuliri Foundation in honour of the late Prof.Celestine Onwuliri in Abuja ...on Thursday

LAWMA to enforce enviromental laws in petrol stations, motor parks By Seye Olumide AGOS Waste Management Authority (LAWMA) is set to begin the enforcement the usage of appropriate waste storage bins by operators of petrol stations, motor parks and other businesses situated along the major highways in the state. The Managing Director, Mr. Ola Oresanya, explained yesterday that the decision was to ensure compliance to government directive that: “all tenements should have covered bins for the storage and evacuation of wastes and adhere strictly to the provisions of the State Environmental Sanitation Laws. According to him, “Section 12 of the laws says: “Every owner or occupier of a tenement shall provide a covered dustbin as may be specified by LAWMA outside the tenement for the disposal of waste.” Oresanya lamented that government has noticed act of indiscriminate dumping of wastes, which is traceable to the activities of petrol stations and garages situated along the

Director, Stallion Home Savings and Loan Limited, Sunday Ngbanwa (left), Managing Director/Chief Executive Officer, Johnson Akhidenor, Chairman, Toyin Adeyinka and Company Secretary/Legal Adviser, Mrs Olukemi Manliki at the Bank’s 17 Annual General Meeting (AGM) in Lagos...

Media Relations Consultant, Aramide Tola Noibi (left), former Chief of General Staff, Lt. Gen. Oladipo Diya (rtd.) and an elderstatesman, Chief Akin Omojola at the Southern Nigeria Peoples’ Assembly Conference of Elders and Leaders hosted by the Southwest in Lagos... recently.

The Marketing Director, Cadbury West Africa, Mr. Dele Anifowoshe (left); Managing Director, Cadbury Nigeria Plc, Mr. Emil Moskoﬁan and the Marketing Manager, Cadbury Nigeria Plc, Mrs. Chioma Afe during the media launch of Cadbury Bournvita New 500G SKU at the Company's Head Oﬃce in Lagos...

Brief College holds graduation HEAD of this year fifth A Founder’s day Thanksgiving Service celebrations,

Mr. Andrew Okeleke of Marketing Communications Department of Globacom congratulating his son, Chuks Andrew Okeleke, who graduated with a Second Class (Upper Division) in Computer Science from Babcock University, Ilishan, Ogun State...

Cherubim & Seraphim (&S) Unification Church of Nigeria, yesterday began its seven- day revival from 5pm8pm daily at 20, Jacob Street, Fadeyi, Lagos. It will end on Sunday, June 23, 2013 with Thanksgiving Service at Kajola Health Centre, Ayonuga Street, Fadeyi, Lagos at 10.00a.m. Host is Senior Prophetess Abosede Akande.

major highways. He added that LAWMA has always embarked on advocacy and sensitization programmes on different occasions to educate owners and managers of such businesses in the state on the need to effectively manage their wastes, especially through proper containerization, which is the 240 litres bin, as specified. “Some of the bins could be bought from PSP operators, major markets or LAWMA offices across the state; while the least size is the 200 litres storage bin with lid. Explaining the importance of the storage bins, he said it could help to contain the spread of epidemics, keep the drains and canals from getting blocked and could also beautify the environment. He appealed to people to complement government efforts in making sure that all forms of environmental hazards are averted, adding that managing waste from the point of generation, paves the way for easier and faster evacuation, and also improves the work time.

Briefs NIIT holds scholarship test July 13 IIT, a leading Global Talent N Development Corporation and Asia’s leading trainer, has announced the 14th NIIT Nigeria I.T. Scholarship 2013, to enable meritorious students seek a career in the fast-growing IT sector in the country. The scholarship test will be held on July 13, 2013. With a thrust on creating skilled manpower for the Nigerian IT industry, the NIIT Nigeria scholarship will help students get skilled for a global career in IT through training in technology. The Vice-resident, International Education Business, NIIT Ltd., Mr. Sanjay Tickoo, said: “Over the last 13 years, NIIT has played a key role in developing manpower for the fast growing IT industry in Nigeria. It is an endeavour to create a trained pool of human resource in IT, ready to take on global assignments.”

Three-day programme at Miracle Centre HE Redeemed Christian T Church of God Miracle Centre, will hold its three-day special programme tagged from Wednesday, June 26 – Friday, Friday June 28, 2013 at 6.00pm daily at 19, Bello Folawiyo Crescent, off Ikosi road, by Mr. Biggs, Ikosi / Isheri LCDA, Ketu, Lagos. Host is Abiodun Doherty.

TheGuardian

14 | THE GUARDIAN, Monday, June 17, 2013

Conscience Nurtured by Truth

FOUNDER: ALEX U. IBRU (1945 – 2011)

Conscience is an open wound; only truth can heal it. Uthman dan Fodio 1754-1816

Editorial To reverse aviation’s infrastructure decay HE challenge of poor infrastructure in Nigeria’s aviation sector is real, and T is without doubt the greatest impediment to a safe sky in this country; as it is similarly a key ingredient to the industry activities anywhere in the world. It is regrettable, against this background, that this vital area has for long been compromised against international regulations. Yet, the need for achieving the desired air safety level has been further underlined by the absence of reliable road, rail or water transportation system in the country, which has translated, since 2009 for instance, into a considerable rise in domestic air traffic. Must the country wait for foreign airlines to carry out its threat to boycott Nigerian airspace if facilities were not upgraded? Government has a primary duty to urgently put in place concrete aviation infrastructure comparable with others worldwide. The absence of an integrated transport mode should ordinarily motivate the government to key into holistic upgrading of air transport. That government has neglected such comprehensive development effort is visible over the years in the country’s inglorious share of tragedies in the aviation sector, owing in part to the huge deficit in infrastructure and service delivery. With no fewer than 38 recorded incidents in about 40 years (nine of them in 2005 alone) – from the January 1973 crash of a Royal Jordanian airline conveying pilgrims back to Kano with 176 casualties, to the June 2012 Dana Air mishap that claimed no fewer than 159 lives on board and on ground – it is certainly not a proud record for the industry. Government has to do much fixing to restore safety and air travellers’ confidence. And this should go beyond President Goodluck Jonathan’s promise, at the one-year remembrance for the Dana crash victims, to make the sky safer. He should nevertheless be accountable to his word. Notably, the current Aviation minister has started remodelling 11 airports across the country in the first phase of infrastructure upgrade. But in the absence of fully functional navigational aids and equipment, the remodelling is akin to putting the cart ahead of the horse. Inadequate communication between pilots and the control towers is a threat to air safety. The complaints that still trail the Total Radar Coverage of the Nation’s Airspace (TRACON) and the Safe Tower projects in some quarters are indices that the Nigeria Airspace Management Agency (NAMA) ought to further pursue seamless and total coverage through the navigational aids. A poor state of infrastructure will undoubtedly send wrong signals to investors as industry competitiveness is inextricably linked to the quality of available infrastructure. For instance, it would be interesting to know why the Chinese reportedly prefer to set up a regional carrier in Ghana, or why investors put $1 billion in Philippines carriers, despite the country’s classification in Category 2. According to the Central Bank of Nigeria (CBN), the country requires about N300 billion to bring the aviation sector to a satisfactory condition. The amount is huge no doubt, but if properly and efficiently deployed, it would impact positively on the sector. After all, bigger amounts are stolen or mismanaged through corruption in the public service. As a catalyst for sustained growth and development, investments in infrastructure generally cannot be over-stressed. The CBN Governor, Sanusi Lamido Sanusi rightly observed the other day that the current level of infrastructural deficit in the country (among them aviation sector) was perhaps the major constraint towards achieving Vision 2020, a project in which the country is striving to be listed among the best 20 economies in the world seven years from now. Paramount among infrastructure development is very functional search and rescue equipment, which the country has missed out on in the past. Construction giant, Julius Berger, has readily availed the country of some of its services and equipment in times of emergency, but for how long should the nation rely on a private firm for these rescue operations? The country’s major airports should be provided with similar facilities, at least to complement the private initiatives. The threat by foreign airlines to boycott Nigerian airspace if facilities were not upgraded is embarrassing enough. Among other facility deficit, what is the current state of navigational lighting at the nation’s airports? Are the communication equipment of world standards? What is the government’s plan about the various under-utilised airports in the country with so much public fund pumped into their sustenance? What is the position of perimeter fencing of the airports, a deficiency that caused Air France A-330 aircraft to run into a herd of cattle in Port Harcourt in July 2005 and a similar incident involving a private chartered plane and stray animals in Bauchi? Many more questions are begging for answers. The country needs an infrastructure policy to enhance facilities’ provision and maintenance. Human errors and tragic accidents are minimised when there is adequate infrastructure. Government, through its relevant agencies, should focus on improving facilities at the airports to sustain industry growth and bring the aviation sector to world standard.

LETTERS

Emergency: President should monitor JTF The President has made a police station, mastermind- Adamawa, in the long-run, SestIR:aofdecision in the best inter- ing an attack on an Emir, a more youths from these Nigeria, but it is not former state governor/sena- states will be radicalized by and cannot be a long-term solution to insurgency in Nigeria. To the average Nigerian who has seen more people die in the hands of Boko-Haram than any other radical group in Nigeria (if there ever was), a state of emergency is the best and only option. Please do not blame them for desiring an urgent and immediate end to the senseless killings and loss of lives. We go to bed praying that Boko Haram extremists do not find their way into our state let alone our house; we have gotten so used to them that it becomes strange when we open newspapers and find no news of Boko Haram attacking innocent people, ambushing

tor, killing a sitting commissioner of police, etc. Yet you cannot tame terrorism when you drive the innocent towards extremist movements. I salute the sagacity of Asiwaju Bola Ahmed Tinubu and his brave stand on the state of emergency. It is not in his interest and that of his party to take an un-popular stand as they have taken, so it is an act of courage to stand against the tides of public opinion. The difference between what the President has done and what Asiwaju advocates is the period and purpose (short and long term result.) In the immediate, there will be peace in Borno, Yobe and

Re: Mystery one-hour rice and deadly cup tea The article by Femi Fani- before the 5th anniversary of SpageIR:Kayode on June 12, 2013, June 12 and the other died 57 where reference was exactly one month later on made on the interval between the day Abacha and Abiola dropped dead refers. Both dates were written as July 8, 1998, instead of one to be June 8, 1998. “Abacha and Abiola’s deaths were both from natural causes and that it was just a coincidence that one dropped dead on July 8, 1998, just four days

July 8, 1998.” Kindly make this correction in order not to misdirect young minds and foreigners reading this and are not conversant with the dates. • David Arogundade, Abuja. • The error is regretted. - Editor -

Boko Haram and other radical groups. While the Nigerian Army has the power to quell Boko Haram let’s not forget that they most often go out of hand and get engaged in extra-judicial killings, rape, random arrest etc – the same way we imagine one of our own being killed by Boko Haram, lets also envision our brothers killed and our sisters raped by the Joint Task Force (JTF). In my opinion, the ACN has kicked against it now to put it on record that when it started they spoke against it. Today they are hypocrites but should the JTF breed more terrorists than they eliminated, they will become prophets. My advice to the President is to diligently monitor the activities of the JTF and all security operatives in the three states so as to prevent abuse, disregard to the laws of the federation, breaking of ‘the rules of engagement’ and the fulfillment of the prophecies of the ACN, ACF, CPC, etc. And to all of you who think the ACN has betrayed their followers … welcome to politics (the process of making and implementing decisions) God bless Nigeria! • Balogun Abbey abbey_gbenga@yahoo.co.uk

THE GUARDIAN, Monday, June 17, 2013

BUSINESS 15

Business How to promote ethical standard in Nigeria’s financial market [P 54 ] Agric bank initiates N3.6b facility for farmers From: Saxone Akhaine, Northern Bureau Chief S part of efforts to boost A agricultural production in the country, the Bank of Agriculture (BOA), has signed a Memorandum of Understanding (MOU) with the Federal Ministry of Agriculture, for a N3.6 billion facility for farm mechanization programme in the country. BOA’s Managing Director, Dr. Mohammed Santuraki

explained at the weekend in Kaduna that the partnership with the Ministry would further promote the government’s transformation agenda for the agricultural sector. The BOA boss argued that the agricultural mechanization programme was critical to the real sector’s revival scheme. Said he: “Mechanization is very important for so many reasons. Like I always say, anytime we talk about agriculture, we always give statistics,

In the short term, we are looking at buying about 400 tractors to be located in about 80 service centers across the country. We found that because of the size of the farmers, it will be difficult for them to carry the whole burden of mechanizing their farms. So what we are planning is to pull them together and use agricultural mechanization service providers. which in my view is very distressing. Any time we discuss agriculture, the first thing we say is that 60 per cent of our people are involved in

agriculture, which is shameful. Here we are having over 60 per cent of our workforce involved in agriculture and yet we import over $12 billion

Finance Director, Tillyard Nigeria, Victor Amaechina (left); Managing Director, John Tuffrey; and Executive Director, Yemi Osisami, during Tillyard Nigeria Limited long service and excellence awards in Lagos

Naira falls at forex market, hits 18-month low By Chijioke Nelson, with agency reports AIRA’S spiraling moveN ment may have hit the fast lane, as it fell for a fourth day against the dollar, recording 18 months low, amid speculations that foreign investors were repatriating funds from gains already made at the nation’s bourse. Specifically, Naira tumbled 0.8 per cent to N162.60 a dollar at 3:07 p.m. in Lagos, culminating in a weekly decline of 1.8 per cent- the worst performance since the five days through December 23, 2011. At the Stock Exchange, AllShare Index dropped the most in more than three years as emerging markets from Brazil to India took steps to stem an outflow of

capital, on concerns that developed nations are close to ending an era of unprecedented liquidity. According to report from the Nigeria Stock Exchange, foreign investors accounted for 43 per cent of trades in March and 61 per cent in all of 2012. An analyst at Lagos-based FSDH Merchant Bank Limited, Jide Solanke, said: “There’s a current high demand for dollars as people are taking profits and their money out. The reserve position is robust, which means the apex bank can defend the Naira. These are temporary fluctuations.” Nigeria’s foreign-exchange reserves have risen 9.8 per cent this year to $48.5 billion as of June 12, according to

Central Bank of Nigeria (CBN) data, while it sold $600 million this week, a 7.7 per cent less than last week’s. CBN uses auctions on Mondays and Wednesdays to maintain exchange-rate stability. On Monday, Naira fell against the dollar and bond yields rose to an almost ninemonth high on speculation investors sold debt amid concern the U.S. Federal Reserve will ease stimulus that boosted emerging-market assets. The currency declined 0.4 per cent to 159.45 per dollar, with yields on domestic bonds due January 2022 rising to the highest since September 24, adding 26 basis points to 13.83 per cent, according to data compiled by Bloomberg.

“Emerging-market debt funds are starting to face redemptions and may be forced to reduce their exposure to Nigerian debt,” Samir Gadio, an emerging-markets strategist at Standard Bank Plc’s London unit said in e-mailed comments. The Central Bank of Nigeria left its policy rate unchanged at a record high of 12 per cent on May 21, concerned that spending was poised to rise as the government battles Islamist insurgents in the northeast. The bank raised the level of reserves that lenders must hold in cash to 12 per cent from 8 per cent in July 2012. Inflation (NGCPIYOY) has stayed under 10 per cent for four consecutive months, meeting the bank’s target.

(N1.95 trillion) worth of food every year.” “In America, only two percent are involved in agriculture and they are net exporters of food. We need to change that and have less people in agriculture and to be able to do that. We need to do it more efficiently. We need to have less people in agriculture so that others can do other things that are also important to the economy. Because most of our food production is done by the small farmers, we have that number of people in agriculture.” “But if we are able to mechanize our agriculture, we would have reduce the number of people involved, so that other people can do other things. That is one of the reasons why we have to increase production and productivity in agriculture. There is also the fact that there is rising cost of farm labour. Everybody knows that in this country, there is

rising cost of farm labour and this is because of the increasing scarcity because young men of today don’t want to do manual farming. This is also driven by the increase rural/urban drift. “Another factor is the non agriculture based rural activities such as the selling of recharge cards, commercial motorcycle transport business, among others. So, in other to lower the cost of farm labour, we need to mechanize. We also need to make agriculture more attractive to our youths who will not do agriculture the way our grandfathers did it. That is why it is a key component of President Jonathan’s transformation agenda.” While explaining the nature of the MOU the bank had signed with the ministry, which included leveraging about N3.6 billion of its funds, he said the bank would also make contribu-

CONTUNUED ON PAGE 16

THE GUARDIAN, Monday, June 17, 2013

16 BUSINESS

Utility firm makes debut in Africa, begins mega project in Ghana GmbH, a leading globItionNGE al provider of ultrafiltratechnology, secured a major contract in Spain for realizing a large-scale desalination project in Ghana. The prestigious Spanish plant constructor, Abeinsa EPC, has been commissioned by Ghana’s state-run Ghana Water Company Limited, to build a seawater desalination plant producing drinking

water for Ghana’s capital Accra and the surrounding areas. Following a complex selection procedure, Abeinsa picked inge as its preferred project partner to equip the plant with a total of 10 ultrafiltration lines as a pretreatment stage for reverse osmosis. inge is offering an extended package for this project also including the complete

central header pipe and valve units provided in collaboration with the sub-contractor Bauer Water GmbH. Drinking water is a scarce resource in the Greater Accra Metropolitan Area, which extends outwards from Ghana’s capital city and to address this problem, the government has awarded a contract to build an ultramodern seawater desalination plant featuring reverse osmosis in Nungua Township, some 12 kilometers from Accra. The plant is designed to produce 60,000 cubic meters of drinking water per day for approximately 500,000 people in the Teshie-Nungua region. To ensure the seawater desalination plant is supplied with pre-cleaned water of consistently high quality, the Spanish plant constructor Abeinsa EPC decided to use inge ultrafiltration technology. The project is a build–operate–transfer arrangement with a concession of 25 years, during which the companyBefesa Desalination Developments Ghana Limited will operate the facility on behalf of Ghana’s public water utility and will be responsible for supplying the water to consumers. At the end of the concession period, the ownership of the plant will be transferred to the public water utility – one of the key reasons why the client has insisted on topquality UF technology, consulting and engineering services. The client specifically requested an expanded pack-

age of services from inge for this project: “For this major project, inge will not only provide its highperformance, pressure-optimized ultrafiltration racks with their patented Multibore membrane fibers, but also an expanded package including the central header pipe and valve units for the ten UF lines, furthermore including the support for the planning and installation stages. “By offering this comprehen-

sive, top-quality package, we successfully convinced the client that we are the best partner,” says inge Chief Executive Officer, Bruno Steis. “We truly stood out as a turnkey supplier of complete ultrafiltration systems for large-scale plants. The ultrafiltration lines will feature more than 1,400 dizzer XL modules, and the complete UF system is designed to supply 135,000 cubic meters per day of pre-filtered water to the reverse osmosis stage.

“The modules and rack components will be delivered to Ghana by mid-year and installed by year’s end. The seawater desalination plant is scheduled to start operation in early 2014. “We are proud that we’ve been awarded a contract for a project where the client sets such high standards for product quality, package scope and engineering services,” says Ralf Krüger, the Sales Manager who is responsible for the project.

N3.6b facility for farmers CONTUNUED FROM PAGE 15 tion of about 35 per cent to the pool and the vendors which that bank was going to buy equipment from would also give something. Santuraki explained further: “In the short term, we are looking at buying about 400 tractors to be located in

about 80 service centers across the country. We found that because of the size of the farmers, it will be difficult for them to carry the whole burden of mechanizing their farms. So what we are planning is to pull them together and use agricultural mechanization service providers.”

“Even in America and in Europe now, farmers are no longer keeping machines on their farms because the world is going towards specialization and if people need equipment, they go and hire it. It is mostly important for our agricultural system which is seasonal.

South-South forum commends Jonathan on mid-term report HE leadership of the T South-South Restoration Forum has commended the achievements of President Goodluck Jonathan in the handling the affairs of the nation and pass a vote of confidence on his administration. The group said that the thorough assessment of all sectors of the economy agreed with the mid-term report in totality, urging Nigerians to give their full support to his administration to move the nation forward through its Transformation Agenda. This was contained in a Communiqué issued at the end of its monthly media briefing, which further commended the Minister of Petroleum Resources, Diezani Allison- Madueke, on her laudable achievements

on the reforms of petroleum industry. The communiqué jointly signed by the National President, Dr. Ben Selekaye and National Secretary, Ofana Paul Santus, warned the National Assembly, especially the leadership of the House of Representatives to stop unnecessary summons and investigations of fictitious petitions from group, which do not understand the working process of the oil and gas sector. It lauded Jonathan for retaining her portfolio, describing her as the best hand to clean the industry. The group also commended the transformation in the aviation industry which according to them is worthy of emulation. However, the group frowned

at the recent comments of the former Head of State General Mohammadu Buhari over the statement that Niger Delta started insecurity in the country, calling on the leadership of the National Assembly and the security agencies to call him to order, as no individual or group of persons is above the law. On the issues of Governors Forum, the group called on the governors to handle their association’s issue within themselves and not politicise it to the extent of overheating the polity. The group said that Governor Rotimi Ameachi should realise that the President of the country is the head of his party and suggested that he should not work against his party or undermine its leadership.

THE GUARDIAN, Monday, June 17, 2013

BUSINESS

NSE tasks IAPM on market development By Chijioke Nelson HE Chief Executive Officer T of the Nigeria Stock Exchange, Oscar Onyema, has said that the place of investment advisers in the overall development of the nation’s bourse cannot be overemphasized. He made the declaration during his presentation as guest speaker at the inaugural Members’ Evening and Awards Night of the Association of Investment Advisers and Portfolio Managers (IAPM), in Lagos. Onyema, who was represented by the Director of Business Development, NSE, Haruna Jalo-Waziri, urged the professionals to recognise their place and rise up to the challenge by contributing and seeking to influence policy direction for the overall good of the country. He said that as professionals, the investment advisers should be abreast of the fiduciary issues, regulatory and legal knowledge, education of clients, implementation of investment strategy and proper calculation of risks involved and returns. At the event, which JaloWaziri was also inducted into the Fellow of the association, he called for a review of PFA guidelines to be marketfriendly and ensure that operators and clients benefit fully from it. Meanwhile, IAPM has inducted 59 members into its Fellow and 43 into its Associates, making it about 154 Fellows and Associates for the professional body. The President of IAPM, Dr. Olufemi Oyetunji, who also doubles as the managing director of Continental Reinsurance Plc, said that the increasing number of Fellows was part of the transformation processes of the association, aimed at boosting professionalism in the investment and advisory sector. According to Oyetunji, investment advisory is critical in the development of any country, especially as viable ones hold the key to revenue generation to both the investor and government, while creating and sustaining employment. He said that the induction signals the beginning of a new dawn for the professionals in the investment advisory business, adding that there is need for education and awareness creation to avert a repeat of the mistakes that led to the current crisis. “Our legacy is that of transformation and we believe that the more we have foot soldiers, the more people we can reach and the more the message can spread about the right thing to do to avert wrong investment and loss in investment. “We need to talk about the pooling of fund, but we also need people that have the skills, responsibility and can be trusted with the fund. Our association is at the forefront of ensuring that the pool of right people with the requisite skills and integrity are available. “We believe we have a responsibility and that is why we are pooling people from different aspects of invest-

ments together. We know our strategic position in the development of an economy and we are not taking the responsibility lightly now. “The market loss was huge because people did not go through the professionals. Even drivers were investing in the market without proper education, but to us, it wasn’t investment, but a gambling because there were no analysis and fundamentals on ground. We cannot afford to repeat that again. “Our major focus is how we can influence what comes out from the Securities and Exchange Commission, Nigeria Stock Exchange and the Financial Reporting Council, to ensure that investors are not misled and wealth is protected and sustained,” he said.

Managing Director of RegCharles Finance Limited, Peter Damian Mbama (left); Chairman of J.K. Randle Professional Services, Bashorun J.K. Randle; and Managing Partner, Oshinor Madu, during the signing of a Memorandum of Understanding between the two companies, for auditing of Small and Medium Enterprises under RegCharles Finance, in Lagos, at the weekend.

THE GUARDIAN, Monday, June 17, 2013

BUSINESS

THE GUARDIAN, Monday, June 17, 2013

Lagos, IBM in talks over smart transportation system By Adeyemi Adepetun S part of its mega city iniA tiative, the Lagos State government has entered into discussion with technology giant, IBM on a strategy that will see the former enthroning a smart transportation system in the state. The project, which is funded by IBM’s Smarter Cities Challenge grant programme, is expected to position Lagos among leading smart cities in the world. Indeed, a team of IBM experts completing a

month-long pro bono consulting assignment, presented recommendations to Lagos State government at the weekend that is expected to help ensure a more efficient flow of traffic for the over 20 million people in the state. Working with the Lagos Metropolitan Area Transport Authority, the agency responsible for developing and implementing the state’s transportation blueprint and the Lagos State Ministries of Transportation, Works & Infrastructure, Science & Technology, the

IBM team of experts proposed technology-driven strategies to make travel easier. According to IBM’s Country Manager for Nigeria, Taiwo Otiti, the recommendations included better coordination between agencies responsible for traffic management, police, fire and medical care. Otiti said that more efficient decision-making would be based on data gathering and analysis from a variety of sources such as cell phones, call centres, cameras and global posi-

Galaxy Backbone wins UN award ALAXY Backbone Limited prestigious international public administration in your G has emerged the winner of recognition of excellence in country. Indeed, it will serve the United Nations Public Service Awards for 2013, with its “1-GOV.net” initiative, which was ranked first place in Africa, in the category: “Promoting Whole-ofGovernment Approaches in the Information Age”. 1-Gov.net is a common ICT platform built and operated by Galaxy on behalf of all the Ministries, Departments and Agencies (MDAs) of the Federal Government for the efficient and effective delivery of public sector services. The United Nations Public Service Award is the most

public service, which rewards the creative achievements and contributions of public service institutions that lead to a more effective and responsive public administration in countries worldwide. According to the letter from the United Nations’ Department of Economic and Social Affairs, “your institution’s outstanding achievement has demonstrated excellence in serving the public interest and I am confident it has made a significant contribution to the improvement of

Taleveras, Lukoil sign upstream pacts for oil acreage ALEVERAS, an African T independent oil and gas company, has signed a Farm-

Out Agreement with a subsidiary of LUKOIL- Russia’s largest private oil company, for Block CI-504 in Ivory Coast. Taleveras is a diversified energy and infrastructure conglomerate concentrating on oil and gas exploration, production, trading and supply, with further activities in power and construction. Active across the globe, its offices are located in London, Geneva, Abuja, Lagos, Abidjan, Cape Town and Dubai. The company is privately owned. PETROCI, the national oil company of Ivory Coast, also holds interest in the Block. Block CI-504 is located in close proximity to the producing Baobab field. The area of the block is 399 square kilometers, water depth ranges from 800 to

2100 meters. In the south, CI504 borders on block CI-205, which is already operated by LUKOIL. The committed work programme includes three periods, the first exploration period calls for the interpretation of historical 2D and 3D seismic data, as well as additional 3D seismic acquisition by January 2014. Two other periods covering five years in total provide for the drilling of two exploration wells. Taleveras signed an MOU with PETROCI for collaboration in upstream activities in Ivory Coast in July 2011 and since then, the company has signed production sharing contracts with PETROCI for three exploration blocks offshore Ivory Coast. LUKOIL is Russian major international vertically-integrated oil and gas company, while PETROCI has been the national oil company of Ivory Coast since 1975.

BDAN hosts new members from four banks ANK Directors Association B of Nigeria (BDAN), the umbrella body of directors of banks will hold a business luncheon to formally welcome new members from four banks. The banks are Heritage Bank, Rand Merchant Bank, FSDH Merchant Bank and Jaiz Bank, which were also the latest entrants into the Nigerian banking industry, following operating license from the Central Bank of Nigeria (CBN). Jaiz Bank is the first bank to be granted a non-interest banking license, while Rand Merchant and FSDH Merchant Banks are the first merchant banks to be licensed under the new banking model introduced by the CBN in 2009, with Heritage Bank acquiring the license of former

Societe Generale Bank, to commence operations as a national bank. The luncheon, which is sponsored by Fidelity Bank, is scheduled to hold on June 28 at the La Scala Restaurant, Muson Centre in Lagos. Chairmen and directors of banks, as well as top officials of Central Bank of Nigeria and the Nigeria Deposit Insurance Corporation would attend it. BDAN was established in 1997, to provide a forum for improving the knowledge and the competence of bank directors, thereby promoting professional practice within the banking industry in Nigeria. The association also contributes to the development of the banking industry through recommendations and comments on policy and topical issues in the industry.

as an inspiration and encouragement for others working for public service”. The Managing Director/Chief Executive Officer of Galaxy Backbone, Gerald Ilukwe, said: “This is a recognition of the fact that the painstaking consolidation and expansion of government-wide ICT infrastructure has begun to yield its first fruits, enabling the automation of the Federal Executive Council Memoranda process and the creation of a single hub for citizens to access government services”. “Galaxy Backbone’s 1-GOV.net initiative came up for recognition because it represents a creative solution that transformed the chaotic information technology landscape in the Federal Government and its MDAs into a single, coordinated platform for e-government programmes in the space of five years”.

tioning systems devices. He said that this accurate and up-to-date information would assist the agencies better manage traffic flow, adding that it would also enable them to wirelessly provide travellers with information such as road and traffic conditions, as well as bus, boat and toll schedules. Also included among the proposals was a single, integrated e-ticketing system for all modes of transportation (similar to New York City’s Metro Card or London’s Oyster card systems) and integrated fare management. The introduction of roadway toll rates based on traffic density would also help encourage the use public transportation, bringing less pollution and increased revenue. The state was also advised to create a single platform for all its traffic and transportation-related data, integrating all agencies and modes of transport, allowing seamless passenger transfers. In his response, the Governor Babatunde Raji Fashola of Lagos said that the need to deploy innovative approaches that addressed civic challenges in Lagos State had never been greater. Fashola said that keeping up with the state’s growing appetite for services and resources was a Herculean and continuous process, stressing that the ability and growing success in attracting home-grown and international trade and investment activity, was generating a need for better governance and management practices.

THE GUARDIAN, Monday, June 17, 2013

Published in association with

InvestmentWatch Understanding long-term investing INTRODUCTION ONG-TERM investing has being receiving more attention in the light of the recent past global economic crisis. Though the focus of these discussions has primarily been on institutional investors whose activity helps to stabilize the financial market, in this edition of INVESTMENT ONE education series, we shall be examining the features and values of long term investing for the benefit of retail investors. The defining feature of long-term investing includes value and passive investing as well as the absence of emotion driven investing . While long-term investing covers several investment vehicles including Real Estate, Bonds, Equities and other Alternative investment vehicles, in this study we shall focus our discussion on the equities market which is currently experiencing increase in local and foreign investors activity. Long Term Investing Long-term investing is more of an attitude than a simple investing terminology as there are many different perspectives to it. It can be usefully defined as investing with the expectation of holding an asset for an indefinite period of time by an investor with the capability to do so. For individuals who seek to invest and as well as manage their daily expense need, the equity market offer attractive returns, but the challenges of saving for the future and yet relying on returns from this investment for today’s income needs can be frustrating. This has led many to question whether long term investing is the right approach for achieving their investment plans. We believe it is important for everyone to take their long term financial investment security seriously by taking the right approach to investing in instruments that pay dividends, considering that new guidelines are being issued for the equities market and reform policies are being put in place by the regulatory authorities which are likely to impact the market positively. With the recent rally in Q1 in the capital market and the current trend buoyed by indices ranging from stable foreign exchange rates and increased liquidity, the equities market poses a very attractive investment option. The Nigerian market is poised to rebound (all things being equal). This view is premised on the fact that the market operates in cycles i.e. that poor periods are usually followed by good years. To make the best of the current market situation, investors must deploy a long-term investment strategy. Features of Long Term Investing • Value Investing Value investment is the strategy of selecting stocks that trade for less than their intrinsic value (i.e. true value of the investment exceed its

current market value) with good margin of safety (i.e. the difference between the intrinsic value of a stock and its market price). It generally involves buying securities whose shares appear underpriced by some form of fundamental analysis. Such securities may be shares in public companies that trade at discounts to book value or tangible book value, have high dividend yields, have low price-to-earnings multiples or have low price-to-book ratios. Value investors are objective investors focusing on the history and estimation of the future growth, cash flows, present assets/earning among others of the business. A value investor invests with a long term perspective and is principally concerned about the potentials of the business, not on its stock price or market. They are meticulous investors, often spending long hours in detailed analytical study of the business fundamentals. Warren Buffet, a proponent of value investing, is reputed to be one of the world’s most successful investors. (You can read the full write up on value investing on our website at www.investment.com) • Passive Investing Passive investing involves buying and holding securities with long term horizon without actively trying to profit from short-term price fluctuations in the market. It requires good high quality initial research, patience and a welldiversified portfolio. Proponents of passive investing are regarded as true investors in the market. They believe it is not possible to accurately identify investments that will consistently top market averages at a low enough cost to justify the effort; they rely on the belief that in the long term the investment will be profitable. Passive investing is about reaching your goal by creating the right portfolio allocation and applying it to any asset class from the start, and not speculating on the future of the markets by trying to predict trades. Passive investing offers investors the highest probability for reaching their financial goal as it simply duplicates their respective investable universes. They prefer to own all the stocks, because they think as a whole, over long periods of time, efficient market forces will work and they are likely to receive higher returns from investing in the entire stock market than by trying to pick the individual stocks which will outperform the market as a whole. (You can read the full write up on passive investing on our website at www.investment-one.com) • Absence of Emotional Contagion Long–term investors do not follow the crowd or get carried away by group behaviour. They thrive on the contrarian mode because their disposition influence major and even minor investment decisions with beneficial effect. The world over, and in the Nigerian capital market,

contagion effect has led to classic market blunders associated with following the crowd - buying into the market when prices are high, and fleeing in panic when they drop. Long-term investing prevents emotional contagion and the tendency to make relatively automatic investment decisions devoid of conventional rationality and caution. • Portfolio Diversification Establishing an appropriate portfolio mix is a dynamic process and it plays a key role in determining your portfolio's overall risk and return. Strategic portfolio allocation is a method that establishes and adheres to what is a "base policy mix." This is a proportional combination of portfolio based on expected rates of return for each portfolio mix. (You can read the full write up on investment portfolio restructuring on our website at www.investment-one.com). Benefits of Long-Term Investing • Minimizes Transaction and Market Disturbance Costs In long-term investing there are fewer trading transaction cost and commissions paid on capital gain made on sales of equities. Investing long-term often reduces these costs. • Aids Planning It facilitates long–term planning such as children’s education, retirement, vacation and special projects among others. • Prevents Missing A Recovery Long-term investing safeguards an investor from missing out on the Market because no one knows for sure when a Market has reached the bottom of a trend. So an investor who waits until things look more positive risks missing the initial part of a recovery, when the most significant gains may be made(several investors missed wonderful stock buying opportunities in Q1 2012 in the equities market). An important point to note is that, while its takes a long time for the Market to recover fully, about half of the losses are recovered in a very short period after the lowest point is reached. • Generates Above Average Returns Long-term investing, when executed properly, provides slow but steady returns that might help to generate above average returns. • Reduces Emotional Stress Investors who invest for long-term are spared the emotional stress of watching the market or chasing trend with its attendant health risk. • Less Risky Because long-term investing does not involve chasing trend or timing the market, investors’ funds are exposed to less risk. Demerits of Long-Term Investing • Getting Stuck In the event of a bad investment, long-term investing may mean locking the invested funds up even when it is performing poorly. • Limited Investment Platform

The benefits cannot equitably be applied across all investment vehicles. • Absence of Quick Gains Avenue for capitalising on spikes in the equities market or achieving high yield in short period of time does not exist in long-term investing. The Future of Long-Term Investing • The Real Value Long-term investment strategy requires taking well-informed decisions, having defined and documented investment beliefs, a target portfolio and how it should be adjusted for the current investing environment. Research has shown and supported the argument to invest rather that give up at what could turn out to be the end of the bear market. Of course, you need to properly assess the duration of your saving plan, as well as consider your temperamenthow well you could cope with the possibility of your investment falling in value. More risk also means more potential for loss. • Managing Risk Big investment decisions need to be made within a broad and well-considered context: your saving and investment goals, time horizon and appetite for risk are at the heart of these decisions. Risk as a word has garnered a reverence that sparks fear in the heart of investors due to the excessive risk taken by some people in the past. This reaction has led to a misunderstanding of the nature of investment. There is good risk and bad risk, calculated risk which is adequately rewarded and reckless risk which unavoidably lead to disaster (and higher blood pressure). However, over the years, the extraordinary long-term outperformance of equities over bonds and cash is a reflection of the reward investors have expected, and received, for the inherent risk of investing in company shares. • The Best Time To Invest The challenge for new investors is also a question of timing and many are experiencing anxiety for what they consider to be the “right moment”. Unfortunately that “right moment” becomes known only when it has passed and is viewed with hindsight. The real danger of missing that crucial bottom is that the early part of the recovery is often the strongest, as shares often have a tendency to form what is known as a “V-Shaped” recovery where a steep fall is followed by a fast recovery. When planning to invest in the long term, the best time to invest is “yesterday”, because being able to time your investment to coincide perfectly with the top and bottom of the Market cycles is impossible. The worst mistake a private investor can make is to enter the market when prices of stocks are high and the prevailing move is optimistic, only to then get trapped when prices are falling and the outlook is bleak.

While predicting the short-term outlook for the market is impossible, investors who are nervous about timing their investment can drip feed their assets into the market in smaller tranches over a long period of time. Your decision of who manages your investment strategy and what investment should be made are critical ingredients toward achieving your investment plans. You should therefore speak with an investment adviser catering to several classes of such investors as you, who understands the importance of making financial provision to meet your future retirement needs, children’s education, and a holiday or just for the rainy day. Kindly let us know if you have found this article useful. Please contact us at: enquiries@investment-one.com

THE GUARDIAN, Monday, June 17, 2013

Insurance CIIN unfolds plan to upscale capacity building in insurance By Joshua Nse HE Chartered Insurance Institute of Nigeria (CIIN), has unfolded plans to advance the course of insurance education particularly in capacity building to meet challenges in the industry. The President of the Institute, Fatai Kayode Lawal, in his acceptance speech on the occasion of his investiture as the 45th president of the Institute on Friday in Lagos, explained that the theme of his presidency is borne out of the belief that we can only create the necessary insurance awareness when people are fairly and reasonably educated about the subject. The less than optimal financial literacy in Nigeria today, he said, is at the root of poor patronage of financial services and insurance happens to be one of the most affected in the sector. Today, he said, the Nigerian population has just about 3,500 professionally qualified insurance practitioners

out of a population of over 160 million. Getting only 3,500 educated out of this figure is a very far cry. The only way we can get insurance to penetrate every nook and cranny of this country is to get more people involved as crusaders/vanguards for insurance. Therefore, during my tenure, we shall focus attention on the following: Empowerment of selected institutions offering insurance programmes to enhance their capacity to offer quality education, reinforcement of activities at the College of Insurance and Financial Management, strengthening the professional qualification of the Institute for global relevance, completion of the restructuring of the Institute’s secretariat to enhance its service delivery, greater attention to funding and prudent management of the Institute is resources, resolution of the Victoria Island building project and promotion of the insurance industry consulta-

tive forum. According to him, there will be articulated efforts at expanding the capacity of institutions offering insurance programs. These institutions will be accredited by the Institute based on their capacity to deliver quality insurance education. The Institute will support these institutions in the area of books, infrastructures, scholarship, and exposure to international seminars to ensure access to latest information about insurance. Those of them who are able to have publications will be rewarded. This way, we will be able to develop interest in insurance. Luckily, in recent time, the Federal Government has approved insurance as a subject in secondary schools. The Institute will provide the necessary support for the Ministry of Education to actualize the scheme. Our support during the period will be in the area of production of text books for this

course and provision of training facilities for insurance teachers, he said. Furthermore, he said, the College of Insurance and Financial Management, which has been at the core of the institute’s activities in the last three years, is now at an advanced stage of construction. The College is evidently the best approach to opening up the doors of insurance education and the key to making insurance more appealing to a wider audience. We will work hard to ensure that the second phase of this project is completed and the facilities are made available for use. The facility will provide 10 lecture rooms that can accommodate 600 people and offer accommodation for 100 students. I believe this will go a long way in creating the needed conducive atmosphere for learning insurance and financial management subjects thus placing our Institute in the right pedestal to foster insur-

Managing Director, Stanbic IBTC Pension Fund Managers, Demola Sogunle (left), Chairman, Pension Operators Association of Nigeria, Dave Uduanu, and Managing Director Shell Nigeria Closed Pension Fund Administrator, Mrs Yemisi Ayeni, at the yearly general meeting of the association in Lagos

ance education along the most desirable expectations. According to him, the professional examination is the hallmark of the Institute’s activities. The Institute has successfully conducted the examination over the years, producing Associates and Fellows that are unquestionable in skills and character. But I think we have to move a step further by ensuring that our Associates can trade their certificates for the well known Associates Diploma of the Chartered Insurance Institute of London, even if it means just writing one paper. The on-going discussions with the CII London will be pursued to a logical end.

Mutual Benefits paid N3.9b claims last year UTUAL Benefits Assurance M Plc has paid a total of N3.9 billion to claimants in the 2012 financial period. In a statement on Friday, the firm said N1.13 billion was paid on non-life insurance business; while N2.8 billion was paid on the life arm. A breakdown of the non-life figures revealed that N518.9 million was paid on motor insurance; N430 million on accident insurance; N45.97 million on marine insurance; and N37.58 million was paid on fire insurance. The firm said it paid N6.53 million claims on bonds, while N99.56 million was paid on special risks. The Group Managing Director, Mutual Benefits, Mr. Akin Ogunbiyi, said the firm was in business to ensure that it settled claims promptly to give relief to its policyholder when they suffered losses. “At Mutual Benefits, we are concerned about our cus-

Custodian and Allied Insurance Plc and Crusader Nigeria Plc, the merged entity known as Custodian and Allied Plc, has embarked on restructuring the organisation, with the integration of skills, information technology (IT), harmonisation of products and services, and back office processes, which will be to the advantage of customers. It was therefore imperative to reassign and release some employees who were due for retirement, to ensure a perfect fit for the various job portfolios, while those retained will be properly integrated

into the company and will benefit from the restructured remuneration. The Board of Directors and Management have expressed gratitude to the retired workers for their contributions over the years, towards the growth and development of the company. All affected personnel will be duly compensated with their respective entitlements. The Head of Directorate, Administration & Corporate Affairs of Custodian and Allied Plc, Mrs. Olubunmi Aderemi, said: “Whilst this is a tough decision, management has had no choice but to take the necessary action that would enhance shareholder value. This will facilitate reduced

overheads through the effective use of operational synergies resulting from the merger, thus creating a stronger company with multi-product offerings for customers. She added that “management is very appreciative of the staff who have put in several years of work and that counseling services, referral opportunities and general assistance have been provided for affected staff” According to Aderemi, “The merger will strengthen the insurance business of the post-merger Custodian by leveraging on the company’s liquidity, brand, expertise and combined products and market capabilities of both companies. The strengths of

the emergent company are its stronger balance sheet, financial capacity, improved operational efficiencies and an expanded product portfolio, and the firm has greatly expanded its scope of services with the merger with Crusader Nigeria Plc.” Custodian and Allied Insurance Plc is quoted on The Nigerian Stock Exchange (NSE), and is approved by the regulatory bodies in Nigeria to offer insurance services, and provide services that extend beyond national frontiers. In 2010, the company was honoured at the 15th Pearl Awards in the sectorial Leadership (Insurance) and Profit Margin Ratio (Market Excellence) categories.

tomers and we will always continue to fulfil our obligations by responding to their claims timely,” he said. Ogunbiyi also reiterated that Mutual Benefits Assurance remained a strong, well capitalised and profitable leading brand in the Nigerian insurance industry. The Mutual Benefits boss said the company would continue to create wealth and value for its stakeholders. He also reiterated the firm’s commitment to the development of retail insurance in the industry. Ogunbiyi added that retail insurance policies would help to alleviate the sufferings of the low income earners and add value to them. “We are out to ensure that insurance is available on the table of everybody in the country, we know the significance of insurance and what it can actually do for the national economy,” he said.

AIICO offers incentives on travel insurance policy

Custodian and Allied streamlines business, network A regulatory and FnessOLLOWING legal approvals of the busicombination between

It would interest you to know that CIIN is the only professional body conducting insurance examinations in the whole of Africa except South Africa. We should be a center that others can log on to. Because we had always thought that our certificate is needed only in Nigeria, we have not been able to explore this viable option and a gaping opportunity to expand our horizon. The point also needs to be made that because of globalisation, the Institute should be able to give its qualifiers the freedom to be able to move around anywhere in the world and, I think this is good for every professional with his or her bidding, he said.

IICO Insurance Plc is offering discounted rate to members of the public on its travel insurance policy this summer season. This is in line with the company’s determination to ensure that Nigerians are adequately protected whenever they travel outside the country. The policy called AIICO Travel insurance, is designed to give cover to the policyholders should the need arise for emergency medical expenses, repatriation and evacuation during international trips. According to the company’s Managing Director, David Sobanjo, AIICO aims at ensuring that Nigerians are not left to suffer unduly while away either for business or vacation in any of the overseas countries. Sobanjo, who disclosed this to journalists in Lagos recently,

noted that the insurance firm is constantly looking for how it can add value to its customers and ensure that the people enjoy the full benefits of having insurance cover. He stated that the people will enjoy discounted rate on family and group travels with benefits such as family/personal health cover while on international trip. In case the need arises, the policyholder will also be entitled to emergency evacuation from foreign land, medical repatriation, funeral expenses, medical emergency and 24-hour call center service and assistance. The AIICO boss also assures prospective policyholders that their claims would be paid promptly whenever the need arises, pointing out that as a testimony, the insurance firm paid claims totaling N6.3 billion to its clients in year 2012.

THE GUARDIAN, Monday, June 17, 2013

Stockwatch In association with Lead Capital

Stock Market Report for the week Friday, 7th June to Thursday 13th June, 2013 AJOR equity markets around the M globe moved downwards as their various indexes lost marginal points. In our universe of sample equity markets; the S & P 500 and Dow Jones gained points by 0.22% and 0.23% respectively, while NASDAQ lost point by 0.03% at the end of last week. In Europe, The German Dax, FTSE 100 and France CAC 40 all lost points by 0.65%, 1.87% and 1.52% respectively. In the Asia/Pacific region, Nikkei 225, Hangseng and BSE Sensex lost points by 3.55%, 4.36% and 3.55% respectively. In Brazil, the Bovespa lost point by 6.85% while Russia’s RTS INDEX lost points by 0.04%. On the local setting, NSE ASI closed at 37,406.73 recording 5.32% depreciation at the end of the week’s trading.

In the week, the total volume appreciated by 36.22% and value traded appreciated by 227.57%. A turnover of 3.46 billion units of shares valued at N76.39 billion was recorded, in contrast to a turnover of 2.54 billion units of shares worth N23.32 billion that was recorded in the previous week. Volume this week was driven by activities in the shares of UNITYBANK, ZENITHBANK, SKYEBANK, TRANSCORP, ACCESS, UBA, FBNH, GUARANTY, FIDELITYBK and ETI.

ANNOUNCEMENT During the period under review, forty (40) stocks recorded price appreciation compared to fifty one (51) that depreciated in the previous week, NEIMETH was first on the top gainers chart to close with 54.39%, followed by ACADEMY with 50.93%, PAINTCOM with 31.43%, VITAFOAM with 25.83%, BERGER with 20.30% and UPL with 12.87%. Other gainers in the top ten categories were FO with 10.45%, COSTAIN with 10.14%, GNI with 10.00% and WAPIC with 10.00%. On the flip side, forty three (43) stocks depreciated in price last week compared to twenty nine (29) that depreciated a week ago. OANDO led on the price losers’ table with 17.13%, followed by IKEJAHOTEL by 12.62%, WAPCO by 11.80%, NB by 11.52%, UBN by 10.59%, RTBRISCOE by 10.50%, NESTLE by 10.42%, MANSARD by 10.29%, MORISON by 9.87% and GUARANTY by 9.43%.

THE GUARDIAN, Monday, June 17, 2013

STOCKWATCH

Weekly Lead Equity Ratings

COMPANY’S RESULT

CONTINUE ON PAGE 51

THE GUARDIAN, Monday, June 17, 2013

Homes & Property AMCON, Fiogret locked in supremacy battle over assets

Govt pledges road infrastructure development

Developer begins Ogun Citygate estate Page 33

Page 32

Page 43

Mortgage operatives, FMBN hold talks on deepening NHF scheme Mortgage Finance By Chinedum Uwaegbulam, Assistant Housing & Environment Editor S unexpected downA turns in financial markets are creating vast scale of funding gap in housing market, mortgage operatives are lobbying the apex mortgage institution to deepen the National Housing Fund (NHF) scheme and ensure it fulfill the needs of prospective homeowners. The national executive council of Mortgage Banking Association of Nigeria (MBAN) in a meeting with senior officials of the Federal Mortgage Bank of Nigeria (FMBN) recently, said that paucity of funds dogging the sector could be eliminated, if the NHF is harnessed and PMBs are made the engine room of the monthly collection process, transaction cycle time is shortened, funds are placed with them and disbursement commence on approved NHF loans. The Guardian learnt FMBN is wary of doling out funds, and plans to ascertain the risk profile of PMBs in order to prevent loss of funds with operators that might not meet the minimum regulatory

Pepple

Ogunjobi

Kumo

The talk centered on the automation of NHF process, fund placements and disbursement of loans to PMBs. MBAN also tasked FMBN on increasing the monthly contribution to 2.5 per cent of total salaries of contributors, as against the current 2.5 per cent of the basic salary, in order to enhance the volume of the Fund capital of N2.5 billion and N5billion. Though FMBN confirmed to have an approved list of only 25 PMBs that would cross the consolidation hurdle of the CBN. The NHF scheme entitles all Nigerians above the age of 21years in paid employment to a low interest, government funded loan. Members of the scheme contribute 2.5 per cent of their monthly salary to the fund through FMBN and

maximum amount obtainable under the scheme is fixed at N15 million. The borrowed capital is repayable over a maximum of 30 years at the rate of six per cent interest. Statistic shows that 3.77 million workers nationwide had so far contributed N106 billion to the Fund as at March. Out of the amount, N101 billion has been disbursed to beneficiaries to enable them

build, buy or renovate their houses. The amount was contributed by 28 states while eight states are still not contributing to the fund. The delegation headed by the MBAN president, Femi Johnson sought for 100 per cent ownership in estate development companies as it has become evident that PMBs have developed sound competencies and skills in respect of Estate construction financing for housing estate develop-

Johnson ment. Johnson stressed the need to extend attract NHF contributions from both the formal and informal sectors in line with the Technical Committee’s Report of FMBN/MBAN/Real Estate D e v e l o p e r s Association/Nigerian Labour Congress on the scheme. MBAN members at the meeting include, Vice President, Mr. Ben Akaneme (GTHomes Limited), Deputy President (West), Niyi Akinlusi (Intercontinental Homes Savings& Loans Plc), Treasurer, Mrs. Subuola Giwa (FBN Mortgages Limited), Publicity Secretary, Emmanuel

Mbaka (Platinum Mortgage Bank Limited), Immediate Past President, Mr. Abimbola Olayinka (Resort Savings & Loans Plc) and MBAN Executive Secretary/Chief Executive Officer, Mr. Kayode Omotoso. FMBN was represented by its Managing Director, Mr. Gimba Yau’ Kumo and Executive Directors, Mr. Newman Ordia, Mr. Mike Nwogbo and Mr. Bola Ogunsola. Another set of meeting was also held with FMBN board chaired by Chief Bisi Ogunjobi. The association made case for the placement of funds by FMBN as deposits with Primary Mortgage Banks (PMBs) in line with the criteria to be set and agreed. Though not un-mindful of what had happened in the Sector, with the deadline for consolidation/reforms extended by Central Bank of Nigeria (CBN) to December 31, 2013. MBAN also proposed issuance of bank guarantees by PMBs with N5 billion/N2.5 billion/ shareholders’ funds to be accepted by FMBN for both NHF and Estate Development Loans. FMBN would be expected to come out with clear guidelines/criteria for such,

CONTINUED ON PAGE 39

Yabatech in N1.4b campus expansion project Projects By Tosin Fodeke IMED at growing its operational capacity and ensure efficient management of its meager land resources, management of Yaba College of Technology has launched an ambitious bid to invest over N1.4 billion in the construction of new building projects. Among new structures under construction are a new bursary and registry building; a 55-hectare annex located at Epe, three-storey block of classroom, lecture theatre, laboratory and office buildings for the School of Science. Senior officials of the school revealed to The Guardian that the Epe annex campus where construction works had started in December last year presently accommodates students of the marine and agriculture departments, even as

An ongoing project at Yabatech recently...

Four building and civil engineering firms are piloting developments at the foremost college. Projects include a bursary and registry building; an annex located at Epe, three-storey block of classroom, lecture theatre, laboratory and office buildings for the School of Science. the management of the school headed by the Rector, Dr. Margaret Kudirat Ladipo, plans to build a tourism village, administration offices, lecture rooms, a hotel among others at the school’s annex campus located at Odo-Ojurashin area of Epe, an outskirts of Lagos state. Most of the projects, which come under the sponsorship of Tertiary Education Trust Fund, are already in advanced stages and would assist in increasing its operational capacity for students. They also revealed that the block of classroom would come at the cost of N158 million, while the three-storey

block of classroom will cost N244 million, the hall laboratory and office buildings for school of science is valued at N197 million. A visit to the school also revealed a flurry of construction activities handled by engineering firms such as, Messrs. Gilda Nigeria Limited, SOTAFEM Nigeria Limited, Johnsonmark Consults and OMAIS Investment limited. The school, according to the project supervisors, is in the process of converting low- lying bungalows to high rise structure, which

CONTINUED ON PAGE 39

HOMES & PROPERTY

THE GUARDIAN, Monday, June 17, 2013

AMCON, Fiogret locked in supremacy battle over assets Litigation By Emmanuel Badejo HE long draw battle between Assets Management Corporation of Nigeria (AMCON) and officials of a Lagos company, Fiogret’s Limited looks unlikely to end soon as each of the parties are locked in titanic struggle for supremacy over the firm. While the receiver-manager, Messrs. Kunle Ogunba, claims to be acting under a court order, which had endorsed his appointment as the receiver-manager, the firm has denied the purported take-over by the AMCON. And battles over the company, having its headquarters located No. 43, Norman Williams Street, Ikoyi (South West), Eti Osa, Lagos, rages on in court. Following an unresolved dispute over the company’s indebtedness, AMCON had sought and gotten court’s order to appoint a receivermanager. And after the appointment, it had re of the firm, which was said to also have properties including Plots 230-234 Ikorodu, Owutu-Ikorodu, Lagos; Plot 15 Layi Ajayi Bembe Street, Parkview Estate, Ikoyi, Lagos; Etete Road, off Benin-Sapele Road, Benin City and East West Road, Rumuokwurush Obio/Akpo Local Government Area, Rivers State. Beyond the courtroom, the parties have taken spaces in the dailies to air the views. In a statement, AMCON had

Ikoyi, Lagos

The company with some choice properties in Lagos and other cities has been in the eye of the storm since the Assets Management Corporation of Nigeria (AMCON) announced its take over by a receiver-manager, and the issue keeps escalating by the day announced that Mr. Kunle Ogunba (SAN), had been appointed as a receiver-manager over “the entire undertakings, stocks, goodwill, plant and machinery, moveable and fixed assets,” of Fiogret Limited, adding that the action was in line with a deed of mortgage debenture dated February 1, 2008 registered at the Corporate Affairs Commission (CAC).

AMCON said the deed of appointment of the receiver dated November 2, 2012 had equally been registered with the CAC and therefore urged all debtors to Fiogret to pay directly to the receiver-manager. It urged all banks and other financial institutions currently in custody of deposits, cash and other assets of Fiogret to continue to hold

them until the receiver-manager issues further instructions “in accordance with the pre-emptive orders of court in suit: FHC/L/CS/63/2013 pending within the bossom of the Federal High Court, Lagos division. “All holders of such deposits should contact the receiver/manager, stating the balance and where secured

facilities are granted, the type of security attached should be disclosed,” AMCON said. In a swift reaction, the company refuted the purported appointment of a receivermanager, saying Ogunba’s appointment was premise on a fraudulent Deed of Mortgage Debenture, adding that the said Deed was never a collateral requirement with it in any dealing with the Equitorial Trust Bank, ETB, or any bank for that matter. “We know from the search at the Corporate Affairs Commission, CAC, that Wale

Babalakin and Co, a firm belonging to Wale Babalakin, a friend of James Ibori, now in prison in London and one Tade Oyewunmi, between September and December 2009, approached the CAC fraudulently and changed the Legal Mortgage, which we signed, to a Deed of Mortgage Debenture which gave them power to appoint a receiver on the company. This was done 660 days after the mandatory 90 days required.

CONTINUED ON PAGE 36

THE GUARDIAN, Monday, June 17, 2013

Prime Estates Developer begins Ogun Citygate estate Projects By Tosin Fodeke HE landscape of Agbara in Ogun state may be in for a major change as an indigenous property development firm, Messrs Priority Benefits Limited has unveiled a new residential and commercial scheme, which is targeting investors seeking opportunities in the promising suburb. Located at Agbara off Opic Estate, the estate, known as Citygate estate, features facilities such as recreation centres, boreholes, perimeter fencing with gate house, transformer and connection to the national grid, drainage, motorable roads, recreation centres, waste disposal services, streetlights and a beautiful landscape. Chief Executive Director of the firm, Mr. Seye Akerele told The Guardian that the firm has a global certificate of occupancy while subscribers will be given a deed of assignment. Apart from allowing investors to build to their taste, the company is offering some housing types range from commercial and residential buildings, with provision for hotels, schools and shopping mall. â&#x20AC;&#x153;The estate is a gated com-

munity designed to serve as a unique residential and light commercial environment with provision for sporting and recreational centers. On completion, the development blueprint would cater for diverse class of people. A neighbour to several multi-national companies like Nestle, Evans, Glaxo-smithkline, Beloxy, Unilever, Pharma-deko, Betaglass. It is designed to offer affordable living experience in a friendly neighborhood.â&#x20AC;? he added. The area, according to the promoter, is set to become a prime location following the ongoing road expansion on Lagos-Badagry Expressway and the blue light rail train project that is under construction by Lagos State Government. He said that the estate, which is situated on about 100 acres of land, has been designed to have adequate road network that guarantees flexibility in human and vehicular movement. They also revealed that future prospects for the area include, government plans to open a border in Igbesa, closeness to Chinese Free trade Zone, and Shell Gasâ&#x20AC;&#x2122; alternative energy solution for uninterrupted power supply.

City Gate estate, Agbara, Ogun State, recently

THE GUARDIAN, Monday, June 17, 2013

HOMES&PROPERTY 35

THE GUARDIAN, Monday, June 17, 2013

Engineers tasked on people flow building design Professional Practice Stories by Tosin Fodeke O effectively play their role in major cities threatened by urbanisation, Nigerian engineers have been urged to acquire professional skills aimed at improving their practice in designing people flow concepts, which is the trend in the sector. This was the position of engineering professionals under the aegis of Nigerian Institution of Mechanical Engineers (NIMechE) Lagos Chapter, recently. People flow as a concept

As a result of increasing population in city centres, engineering professionals in the mechanical field have tasked members on the need to apply modern concepts in their building design. relates to the phenomenon of masses of people moving around in buildings in an organized, comfortable and safe way. Urbanization and the ageing of population are the key mega trends creating the need for managing traffic flow in cities and people flow in buildings. A “mega trend” is a concept to describe a phenomenon that significantly changes the structure

of society. Often, the change is global. Deputy General Manager, Kresta Laurel Limited, Mr. Oludotun Majekodunmi, an engineer, while addressing students at the 2013 Mechanical Engineering Career Talk organised by the Lagos Chapter of NIMechE, called on professionals to give an adequate engineering input that would lead to achieving the best people

flow experience in all the upcoming projects. Majekodunmi, who was the as the guest speaker explained that engineers involved the human traffic systems in buildings need to get more involved early in the emerging trend of best people flow designs. According to him, one of the greatest problems confronting the profession of mechanical engineers is

being able to apply sound principles of traffic analysis to transport problems in buildings. “Many people wonder why moving people around in building in an organised comfortable and safe way is critical and so difficult that a mechanical engineers should be called to solve” added Majekodunmi He said to correct this trend, there is need for government, Nigeria society of Engineers, Nigerian Institution of Mechanical Engineers and other stakeholders to monitor and ensure compliance to stan-

Facility management discourse holds in Lagos Projects S part of the activities to A mark this year’s World Facility Management Day, a leading firm in the sector in Nigeria, Alpha Mead Facilities and Management Services Limited, has announced plans to hold its second edition of the Nigerian Facilities Management Roundtable. The event, which will take place on June 27 at Eko Hotels, Lagos, will consider “Creating an Enabling Environment for Sustainable Maintenance of Real Estate Assets and Public Infrastructure in Nigeria” Unveiling the plan, Managing Director, Alpha Mead, Femi Akintunde, disclosed that the success of the

maiden edition and the huge recognition it received in both the local and international media, has encouraged the organizers to make the 2013 event’s bigger, with more participation expected from leading authorities in facility management and associated fields from within Nigeria and abroad. According to him, “a major highlight of the 2013 Nigerian FM Roundtable will be a presentation by Mr. Mark Norris, Principal Reliability and Asset Management Consultant at Scott Lister United Kingdom. Mr. Norris is a veteran of the London underground system and boasts of 15 years extensive experience in his

field. Endorsing the event, President, International Facility Management Association Nigeria (IFMA), Iyabo Abaoba, commended Alpha Mead for its unrelenting passion in advancing the cause of facility management in the country and called for active participation by industry stakeholders. She said, “IFMA is the largest and most widely recognized international association for professional facility managers supporting more than 22, 655 members in 78 countries. Our mission is to advance the facility management profession by providing exceptional serv-

ices, products, resources and opportunities. Accordingly, we unreservedly support the Nigerian Facility Management Roundtable and recognize it as melting pot of robust ideas that will give the facility management industry in Nigeria a common purpose as well as raise the standard of practice.” Expected speakers are Secretary to the Lagos State Government, Alhaja Oluranti Adebule; Dean, Faculty of Technology, University of Ibadan, Prof. Ayo Oluleye; Head, Construction and Real Estate, GEMS 2 (Growth and Employment in States), Paul Weijers, and Mr. Femi Akintunde. Panel members include,

Lagos State Commissioner for Works and Infrastructure, Dr. Obafemi K. Hamzat,; MD/Chairman, Delta Afrik, Mr. Akin Odumakinde; Joseph Ajilore; Executive General Manager, Total E & P; Corporate Infrastructure Services Manager, Shell Petroleum Development Company, Muyiwa Falade; General Manager, Global Real Estate & Facilities, Exxon Mobil, Sam Kareem and IFMAN president, Ms. Iyabo Aboaba. Others are Ayo Onajide, Yemi Ejidiran, Ros Oluyede, Frank Okosun, and Peter Bamkole, the Director, Enterprise Development Center, Pan Atlantic University.

dard regulations while applying appropriate consequence management on violations. Earlier, NIMechE Lagos Chapter Chairman, Jubril Adeyemo, said Nigeria’s development challenges could be attributed to her inability to produce most of what she consumed like most developed nations did due largely to a yawning, centuries-old gap in technology. According to him, many countries like China, Brazil, Korea, Taiwan, Malaysia, Indonesia, Singapore etc. that have toed the path of self-reliance have successfully narrowed or bridged this gap but in Nigeria, the gap continues to widen. He noted that these countries swam with the tide of global reorganization of production at the beginning of this millennium: increasing their trade volume, capitalizing on outsourced services and developing new markets through innovation and value addition, Nigeria simply refused to be buoyed by it. “Many reasons have been adduced to our backwardness in technology - lack of good leadership, pervasive corruption and bad microeconomic policies. “However, in other leapfrog to the forefront in technology, production and income, the educational system must be nothing but excellent in terms of developing a total man, encouraging innovation and adding value”, he said.

THE GUARDIAN, Monday, June 17, 2013

HOMES & PROPERTY

Controvery trails AMCON take over of Fiogret’s assets CONTINUED FROM PAGE 32 “That fraudulent act is what Ogunba is manifesting in the court right now. We know that no amount of legal work can make a fraud or a void act to stand in law. Therefore, Ogunba is on a quicksand and will soon disappear. In all of this, Fiogret Limited is unshaken and unshakeable. They come against one way and they flee several ways. “That same Ogunba accused us of not paying our debts. Our answer is that only debts that are genuine or reasonable are payable. An interest of 176 years catapulted from N100 million to N3.5 billion in four years is only payable by fraudsters. We are not fraudsters; we are a genuine business with a net worth of over four billion Naira. “We have been law abiding and have handed all grievances to the courts. If and when the courts pronounce what we are liable to pay and we cannot, then we are debtors. Until then, we ask all detractors to shut up. As stated above, Forget Limited has a net worth of not less than N4.5 billion and will meet its genuine obligations when due. Such a company like ours is not insolvent.” And as the receiver-manag-

er was settling down on the firm, the owner, was alleged to have interrupted the business of the former, hence leading to instituting a contempt proceeding against, Chief Executive, Chief Great Ovedje Ogboru, for flouting a subsisting order of court made by Justice Okon Abang, The order made on Jan. 13, 2013, had appointed a receiver manager for Fiogret Ltd, a company owned by the defendant, which is subject of a loan transaction with Equatorial Trust Bank (now Sterling Bank). Ogunba had argued that the defendant used the company as collateral to secure N33 million from the bank, for the importation of fish. He said that the defendant had, however, been unwilling to liquidate the debt, in spite of repeated letters of demand, which led AMCON to take over the company. In a supporting affidavit, AMCON alleged that Ogboru also threatened to deal with the receiver/manager for executing the orders of court. AMCON, therefore, sought an order, declaring the acts of thuggery and hooliganism on the part of the defendant as contempt of the court and it joined directors of Fiogret Ltd, as defendants.

They include Turner Ogboru, Victor Agbenrien, Muibi Sunmonu, Mike Ladesuyi, Roland Ogboru and Raphael Uwhumakpor. In another litigation by the company against Ogunba and other defendants, the firm alleged a disruption of its business activities on Friday, May 31, 2013, by the agents of the receiver-manager. The suit challenges Ogunba’s attempt to re-execute ex-parte order, which was issued in January 2013. The said order, was said to have lapsed. Fiogret Limited, in Suit No. FHC/L/CS/771/2013 filed on June 3, 2013, is specifically claiming N500 million as damages against Mr. Ogunba and the Deputy Sheriff of the Federal High Court for their’ attempt to execute for the second time the ex parte order of 30th January, 2013 made in suit No: FHC/L/CS/63/2013. The firm contends that the said ex parte had lapsed by the operation law and also that the defendants caused them huge financial losses for putting their business premises under “menacing siege” in an attempt by the defendants to re-execute an order that had been previously executed.

THE GUARDIAN, Monday, June 17, 2013

ESVARBON fetes Idudu, ex-chair   38

THE GUARDIAN, Monday, June 17, 2013

HOMES&PROPERTY

Professional Practice

STATE surveyors, family, E friends and well-wishers gathered last week in Lagos to felicitate with the immediate past chairman of the Estate Surveyors Registration Board of Nigeria (ESVARBON), Mr. Joe Idudu who was hosted to a send-off/luncheon by the organisation. Among top dignitaries who

graced the occasion include past presidents of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Mr. Ayodele Sangosanya who doubles as the chairman, ESVARBON, Mr. Yinka Sonaike and Mr. William Odudu and former ESVARBON chairman, Mr. Olatunde Adegbemile and Rev. Ladipo Eso. Also in attendance were

Mr. Olatunde Adegbemile (left), current chairman, ESVARBON, Mr. Ayodele Sangosanya and his wife Adenike, immediate past chairman and guest of honour, Mr. Joe Idudu during the send-off and luncheon, last week. board, it is a gateway to riches. members of the board such Vice President, Dr. Bolarinde General Secretary, Kunle “When you get our seal, you as Mr. John Aikamie, NIESV Patunola-Ajayi and National Awolaja. have gotten a minting The board Registrar, Mr. machine. It’s really a minting Thomas Audi, hosted the machine, but we want you to event. practice the profession as it In a citation read by an estate should be practiced.” surveyor, Mr. Biodun He paid glowing tribute to Odeleye, Idudu was the 11th the past chairman and noted past President of NIESV, that Idudu contributed Fellow of the Institution and immensely to the growth and the Royal Institution of development of the board. Chartered Surveyor (RICS) “He spiritedly demonstrated London. He served as Managing this by conducting induction ceremonies when many Partner and Chief Executive of newly registered estate surthe international firm of real veyors and valuers were estate consultants, Messrs Knight Frank, until January empowered with staff of office.” 2006. He was also Chairman For Eso, Idudu is a commitof Resort Savings and Loans ted gentleman who is used to Plc. mentoring upcoming estate In his speech, Sangosanya surveyors and valuers. “In prourged the guests to spread the fessional life, he performed news about estate surveyors creditably,” he added. In his and let their children read response, Idudu expressed estate management in the terappreciation to the board, saytiary institutions as means of ing that serving the board is increasing the numbers of always call to service. He said: professionals in the industry. “Remember always, you and I He said that when any promust give service as service fessional gets the seal of the

Eternit denies using asbestos in materials’ production

Building Materials

By Emmanuel Badejo IQUED by an allegation that it still uses asbestos in the production of its cement product, Delta- based firm, Eternit Ltd, has said there is no iota of truth in the claim, saying it had since 10 years ago done away with asbestos content. Eternit Limited, which operates in Sapele, Delta State, produces high quality fibre cement roofing and ceiling products as well as concrete roofing tiles. The Standard Organization of Nigeria (SON) had over a decade ago placed ban on the use of asbestos in the production of building materials in compliance with international standards. But claims that Eternit Limited, still uses the product, continues to make the round. Reacting last week, Mr. Dirk Modderman, dismissed the allegation, stressing that “the last line of our products with asbestos content was churned out of our factory as far back as 2001. For the sake of emphasis, and to correct the impression that Eternit products are asbestos products, none of our products contains asbestos. The asbestos component of our products mix has

been replaced with synthetic new technology fibre over a decade ago”, he stated. Not unmindful of its competitors, particularly from the importers of building materials in the country, Modderman insisted that the only way to remain relevant in the industry is not to compromise set standards for quality, but improving on quality of products being produced at all times no matter the situation. According to the managing director, the company’s products comply with the international standard, adding that the company has a reputation in the building materials’manufacturing sector of the nation’s economy. Modderman said even with the good name the company is currently enjoying, “we have to produce high quality products if we must remain in the business following strong competition with foreign products being imported into the country that are cheaper than Eternit products,” he said. Speaking earlier, the marketing manager of the company Mr. Kayode said the company is at present reinforcing its leadership position in the roofing and ceiling sheets market by surpassing its customers’ expectations with improved extensive distribution network, good trade incentives, quality customer service delivery

THE GUARDIAN, Monday, June 17, 2013

HOMES&PROPERTY

Yabatech in N1.4b school’s project expansion CONTINUED FROM PAGE 31 are no lesser that four storeys due to the pressing demand for students’ admission and accommodate of staff. One of the buildings, a seven storey Education Trust Fund multi-use building located within the Yaba College of Technology cam-

pus, situates adjacent to the Works and Service Unit of the college designed in 43.3m x 15.3m x 32.1m will be “the tallest building” on the campus, when completed. The Guardian also gathered that construction of the project being handled by Messrs Forstech Nigeria Limited would gulp about N654, 500,000. Other con-

sultants include Jojo and Partners (mechanical engineers), Femmade Consults (structural engineers), Taylaqs Consults (quantity surveyors) and Kunle Ogunmaike, Bosun Shonuyi and Femi Lawal as architects. Facilities anticipated in the building are installation of the two lifts, a 700 KVA generator while air condition-

ing of the entire building that commenced in September 2010, is expected for completion in mid April 2012. The Federal Government’s Education Trust Fund (ETF) is funding the project. The building comes with parking lots, 94 office spaces with each having an average area of 14msq, a staff library,

provided on each floor except for the last two floors. The seven-storey ETF multipurpose building will also have a total of three seminar rooms. While seminar rooms I and II are located on the sixth floor, seminar three room is sitting on the fifth floor; the trio has a seating capacity of 390 persons. Also provided is a commit-

tee room, a penthouse, which provides a comfortable three-bedroom suite. Yaba College of Technology, founded in 1947, is Nigeria’s first higher educational institution. It is located in Yaba, Lagos. The college is a centre of culture and heritage. Currently it has student enrollment of over 16,000.

FMBN, MBAN set to revamp NHF scheme CONTINUED FROM PAGE 31 though no PMB would be allowed to issue a guarantee on its own behalf under any circumstance. On the transaction cycle for NHF, Johnson who doubles as the Managing Director, Homebase Mortgage Bank Limited said though there had been marked improvements in the disbursement of approved NHF Loans, there would be need to work towards the transaction cycle of 180 days, for instance (PMB30/FMBN-90/PMB30/FMBN-30) which would be of immense benefits to all stakeholders and to improve the opinion of the public on the scheme. He urged FMBN to fast track the automation of NHF process. “There is the dire need to conclude Automation Process of the NHF Scheme, very quickly. The need to re-visit the issue of increasing the Monthly Contribution to 2.5 per cent of total salaries of contributors, as against the current 2.5 per cent of the basic salary, in order to enhance the volume of the Fund,” he said. MBAN further called for the rejuvenation of the quarterly meetings of the technical committee in order to resolve issues that would arise on the Scheme on a continuous basis. Yau’ Kumo in his response, noted that there was restriction to Informal Sector as a pilot project to monitor how it works in the face of the fact that some PMBs were not effecting remittance of repayment of NHF Loans to FMBN promptly. According to the FMBN boss, MBAN would need to tackle the case of those PMBs that had commenced collection of NHF but might not cross the December 31, 2013 deadline set by CBN for consolidation/reforms of the sector. Another reason was that FMBN had commenced the e-Collection System with Commercial Banks (CBs) and there would be need to tarry a while to await the outcome of Pilot Project with the Informal Sector. On the issue of placement of funds as deposits with PMBs, FMBN said the issue would be fully addressed after the consolidation, more so that FMBN recently had a SWAP transaction with a PMB and found it difficult to recover the fund at maturity. FMBN was also reported to be dealing with only six commercial banks currently, in order to avoid the incidence of its N1billion trapped in Savannah Bank

some years ago. He revealed that full automation of FMBN processes that would reduce the transaction cycle considerably is 80 per cent completed, and new transaction cycle will be less than 90 days. There would be workshop/ training programmes for PMBs

that would address the modalities for working towards a shorter transaction cycle. On the contribution of 2.5per cent of total employees’ emolument to NHF Scheme, “this would be achieved over time, as more States would need to be encouraged to make

deductions from the salaries of their employees into the scheme before considering an increase in the monthly contribution by the employees; when confidence in the scheme has improved significantly. FMBN is also considering contribution from both

the employee and employer as in the Pension Contributions Scheme, in order to enhance the NHF Scheme. It confirmed that NHF Loans created by PMBs that have Ownership in Estate Development Companies had recorded over 90 per cent perform-

ance in NHF Loan Repayments. Yau’ Kumo said FMBN is pursuing the issue of obtaining long term loans from Shelter Afrique and other multi-lateral agencies, as other sources to fund mortgages and such facilities would be collateralized by the Corporate.

THE GUARDIAN, Monday, June 17, 2013

HOMES&PROPERTY 43

Minister of Works, Mike Onolememen during the official commissioning of rehabilitated roads in Gombe State, recently

Govt pledges road infrastructure development Roads HE Federal Government has T reiterated its commitment in meeting the yearning and aspiration of Nigerians in the area of road infrastructural development. Minister of Works, Mike Onolememen made this known during the official commissioning of collapsed section of Gombe-Potiskum road, rehabilitation of Gombe-Bye-pass and rehabilitation of the Gombe-Numan-Yola road section II in Gombe State. In a statement signed by the ministryâ&#x20AC;&#x2122;s Information Officer, Idris Abdulkadir Bosuwa, the minister stated that part of the transformation agenda of Jonathan administration is the delivery of good road infrastructure to the people of Nigeria, through the rehabilitation and reconstruction of the almost dilapidated 35,00Km of Federal road networks nationwide and the development of

new roads . The Minister hinted that as a matter of policy, the government has embarked on systematic rehabilitation and reconstruction of some Federal roads across the country. Onolememen added that it is in tune of that the Federal Government awarded three major road projects in Gombe State to Messrs Triacta Nigeria Limited, which was necessitated by the dire need to stop the carnage on the main alignment within the town due to frequency of road accidents claiming lives and properties worth several millions of naira as well as to decongest the traffic flow in the urban alignment. On the Gombe- Potiskum road, the minister however stated that the occurrence of flash flood in July, 2011 led to the sudden collapse of a section of Gombe-Nafada-Potiskum road at KM 12. The road, which was cut-off rendered it to be impassable and that was what led the

Federal Government to award the emergency reinstatement of the collapsed section including the construction of 75m (5span) reinforced concrete bridge and other erosion control devices. In his remark, the Executive Governor of Gombe State, Alhaji Ibrahim Dankwambo stated that with the completion of the stretch from the junction on Gombe-Yola to Gombe- Biu roads by the Federal Government, accidents caused by heavy trucks cascading downslope from Mile III have drastically reduced, but trucks descending the steep grade on Dukku and potiskum roads still remain a threat to the lives and property of the people of Gombe State. He stated that if the segment of the planned Northern Byepass covering the stretch is constructed, it will curtail such accidents. Dankwambo appealed to Federal government to look into their request.

THE GUARDIAN, Monday, June 17, 2013

HOMES&PROPERTY

THE GUARDIAN, Monday, June 17, 2013

Lagos Governor, Babatunde Raji Fashola (left); State’s Commissioner Ministry of The Environment, Dr. Tunji Bello and Managing Director, Fan Milk Africa,, Flemin Hadsbery during the 5th anniversary of Climate Change Club for schools in Lagos held at the Police College playing ground, Ikeja...recently PHOTO: GABRIEL IKHAHON

Experts seek appropriate policies for groundwater conservation Water Resources By Tunde Alao FRESH concern has been A raised on the quality, management of groundwater for future use, with experts calling for the regulations and legislation to protect common groundwater resource in Lagos metropolis. They argued that the protection of groundwater resources against overuse, mining and pollution should part of an integral part of a holistic water management strategy. The experts who met a oneday stakeholders’ workshop on Groundwater Abstraction in Lagos State: Environmental and Health Impact” organised by the Lagos State Water Regulatory Commission (LSWRC), advised that licensed water well contractors must obtain an approval that authorizes them to drill water wells in their areas. Speaking on “Groundwater Resource in Water Supply:

Lagos Case Study”, Prof. Oladapo Longe, of the Faculty of Engineering Department of Civil and Environmental Engineering, University of Lagos, recommended that drilling standards and manual as well as for, constructing and reclaiming wells must be produced, whether they are installed for temporary water supply or for long-term use. He said that groundwater development for water supply purposes either in the rural or urban centres in the state has not fully succeed due to widespread failure to implement adequate wellhead protection zones; identification and conservation of recharge areas. According to him, groundwater resources have better shortterm security being less directly and rapidly affected by climatic variability. Prof. Olanrewaju Fagbohun of the Nigerian Institute of Advanced Legal Studies, University of Lagos, listed groundwater governance issues such as lack of data and scientific understanding is a

key constraint to predicting aquifer functioning; rights systems (use, access, withdrawal, management) are difficult to design and implement for varied technical and economical reasons; climate change and globalization have reduced peoples’ commitment to be involved in implementation of long-term management strategies. For Fagbohun, gaps in groundwater governance structure include ability to cope with the acceleration of degradation of groundwater systems by over abstraction, and effective resource depletion through quality changes; failure to resolve competition for groundwater and aquifer services between sectoral uses and environmental externalities; and lack of professional and public awareness about the sustainable use of groundwater resources, resulting in a lack of coherent planning frameworks (policy responses/institutional development) to guide scales of groundwater development.

NESREA has not helped environmental protection, says Delta speaker Policy S the world today is grapA pling with issues of climate change, enforcement of laws to other environmental issues such as air, land and water pollution, bush burning, gas flaring and use of pesticides have taken a back-seat, according to Victor Ochei, speaker, Delta House of Assembly. He said the National Environmental Standards and Regulations Enforcement Agency (NESREA) as a parastatal of the Federal Ministry of Environment, saddled with enforcing all environmental laws, guidelines, policies, standards and regulations in Nigeria, as well as enforcing compliance with the provisions of all international agreements has not lived up to expectation. Speaking at a two-day retreat for members of the State’s House of Assembly in Lagos, last week, Ochei recalled that “in 1988,the toxic waste dumping incident at Koko, in our state led to the establishment of the then Federal Environmental Protection

Delta House of Assembly Speaker, Ochei Agency, this agency produced the Agenda21. It emphasized the rational use of oil and gas resources, industrial pollution management and natural resources conservation. “ The Agency was also instrumental in getting industrial emission and effluent discharge standard promulgated in order to control air, water, and land pollution. “The coming into being of the National Environmental Standards and Regulations Enforcement Agency (NESREA) as a Parastatal of the Federal Ministry of Environment as established by NESREA (Establishment) Act, 2007,

after repealing the Federal Environmental Protection Agency Act Cap F 10 LFN 2004 was expected to bring additional vigour in the management of the environment. “Going by the mandate of NESREA, it is empowered amongst others to enforce all environmental laws, guidelines, policies, standards and regulations in Nigeria, as well as enforcing compliance with the provisions of all international agreements, protocols, conventions and treaties on the environment to which Nigeria is a signatory. This ought to have helped environmental protection management, but just as FEPA before it, many doubt, if it has lived up to expectation.” Ochei said that the problem of environmental management has gradually become a monster in today’s world, and that is why the Assembly has chosen to discuss the issue in this year’s retreat. “We have chosen to critically look at environmental issues in our state, with a view to finding out how to maximize enough gain from it, in our drive towards Delta beyond oil.

THE GUARDIAN, Monday, June 17, 2013

The Environment Nigeria, UNISDR reach accord on disaster reduction plan Disaster Management By Chinedum Uwaegbulam, Assistant Housing & Environment Editor ITH nine of Nigeria’s 36 states in the Sahel region currently affected by drought and 2012 floods reducing the nation’s Gross Domestic Product by 0.36 per cent, the Federal Government has urged the United Nations Office for Disaster Risk Reduction (UNISDR) to facilitate the development of a comprehensive disaster risk management plan for Africa’s most populous country. The agreement to move beyond a predominantly response-focused approach to disaster planning came after wide ranging discussions between Nigerian Vice President Namadi Sambo and the head of UNISDR Margareta Wahlström in Abuja. Vice President Sambo summed up the philosophy that would guide his government’s approach when he told Ms Wahlström: ‘It is time to come back to what the wise man said, prevention is better than cure.’ The strengthening of Nigeria’s National Emergency Management Agency (NEMA) was a top agenda item and Ms Wahlström said UNISDR would support NEMA’s efforts to complement its response capacity with more advocacy of disaster risk reduction, stronger local and state capacity and more proactive coordination of various actors. “Nigeria is already convinced that disasters are a development concern and it is increasingly aware of the impact of climate change so it is very encouraging to see the strong political commit-

The Sahel...drought taking its toll on elephants

Under the deal brokered by Vice President Namadi Sambo and the head of UNISDR Margareta Wahlström, the UN organization would support NEMA’s efforts to complement its response capacity with more advocacy of disaster risk reduction, stronger local capacity and more proactive coordination of various actors ment to strengthen disaster risk reduction as integral for protecting development gains,’”Ms Wahlström said.

“It is impressive how key government ministries are really focused on strengthening Nigeria’s resilience

and preparedness for disasters and climate change. “The recent floods have had a huge impact on public

and official perception of disasters. It is the first time that Nigeria talks about the financial impact of disasters on the state and the people. “It is encouraging to see this deeper interest in the triggers of disaster and it’s important that we make progress because building a safer and more resilient country will be a long and

challenging road. The need for good early warning systems is especially important.” Other important outcomes from the talks included the organization of a national discussion to strengthen public-private partnership so that business can be an increasingly central actor in reducing disaster risk. The Vice President and Ms Wahlström also agreed on the need to address the impact of disasters on children’s education in Nigeria. Many children directly affected by disaster are unable to attend school and in addition several schools are used for months at a time as centres for disaster displaced people, which means teaching cannot take place. Sambo also urged that the growing issue of armed conflict over resources, such as grazing land and water, between various groups, such as pastoralists and farmers, be a key part of the post-2015 replacement of the current Hyogo Framework for Action on Disaster Risk Reduction. Nigeria has suffered repeated floods in many of its cities and continues to endure an ongoing drought in the north of the country. The need for prompt action to reduce disaster risk was highlighted in a World Bank report, ‘Toward Climate-Resilient Development’, released last week in collaboration with the Federal Government. The report made ten practical recommendations for Nigeria to grow its economy and its resilience but warned of the consequences if concerted action was not taken.

ECOWAS moves to combat climate change vulnerability Climate Change From Joke Falaju, Abuja N a renewed effort to mitiIdisaster gate the impact of natural in Economic Community of West African (ECOWAS) region, member countries have moved to strengthen preparedness and response capacities to climate change and natural disasters. In 2012, flood affected five million people in West Africa, including 3.9 million in Nigeria alone, while over 18 million people across the Sahel region were in dire food crisis because food crisis. Statistics from National Emergency Management Agency (NEMA) indicate that 363 lives were lost, 5,851 were injured and 2,157,419 were displaced. The value of property lost arising from 2012 flood was estimated at N2.6 trillion.

ECOWAS countries are planning stronger mechanism for disaster risk reduction and emergency preparedness, which will work towards building regional drought, flood and epidemics early warning system, search and rescue platforms The Minister of Environment, Mrs. Hadiza Mailafia, in her remarks at a three-day consultative meeting of the Regional Committee for Disaster Management in West Africa (GECEAO) in Abuja, said, it was imperative for the region to increase public awareness of the risks posed by climate change, natural disasters and ensure sustainable emergency management between the members States. She said this would reduce the vulnerability of the populace across the region and increase collective resilience to disasters and emergencies. In most cities, there are obstructions of water ways, weak soil tex-

ture/structure, land topography, ineffective management of solid wastes, deforestation, land degradation, sedimentation of aquatic ecosystem, pollution, intensive precipitation and wind effects. “The unprecedented flood of 2012 in Nigeria which can be attributed to global climate change was aggravated by the less than optimum operation of our dams, streams, rivers and trans boundary water bodies by various stakeholders including the states, Federal and neighbouring Government. Other identified causes include poor drainage network, inadequate culverts/canals,” she said. She charged the forum to

find ways and means of providing a mechanism for regional risk assessment, mitigation, preparedness and response. According to her, governments in the sub region should therefore, consider integrating risk prevention and mitigation in its policies programmes and intervention”. The Head of the United Nations (UN), regional Office for the Coordination of Humanitarian Affairs In West and Central Africa (OCHA)Ms. Allegra Baiocchi in her goodwill message said no country is safe from natural or man-made disasters so it is important to mitigate the devastating effects. Her words: “The risk of losses from disasters is high-

er than before. Floods and droughts are among the most frequent and costly natural disasters in terms of human suffering and economic loss. In Nigeria millions of people were affected by flooding. Drought caused reduction in cereal production placing 18 million people in dire food insecurity and nutrition crisis. Today, we still have more than 11 million people struggling to recover from the 2012 food crisis and continue to face food insecurity”. Expressing concern that the risk of disaster losses in the region was higher than before, NEMA Director General, Mohammad SaniSidi stressed the need for member countries in the sub-region to effectively collaborate to develop a sound regional mechanism for disaster risk reduction and emergency preparedness.

He said: The economic losses stand at a staggering $16.9billion, and Nigeria and indeed the entire West African Sub-region can ill afford the huge economic losses associated with disaster. If we must have sustainable development in the sub-region then it is time to reverse the vulnerability”. He strongly advocated for the development of a stronger regional mechanism for disaster risk reduction and emergency preparedness among ECOWAS countries. “It has become necessary for the ECOWAS nations to work towards building regional drought, flood and epidemics early warning system and search and rescue platforms that will enhance our cooperation on effective and sustainable emergency management,” he added.

THE GUARDIAN, Monday, June 17, 2013

Oil & GasWeekly Remi Aiyela, Editor-in-Chief

editor@NOGintelligence.com www.NOGintelligence.com

UPSTREAM NEWS

ny Mrs Charlotte Essiet-Oduah at a press conference said the company’s series of technologies, which will be showcased later this month in Lagos at Bakers Hughes’ Techno Day, will provide oil industry operators with accuracy of reservoir, logging and data acquisition results. She said, “When you have various contractors, who are doing all these for you, it becomes very expensive and that is the truth. But if you have one contractor, who is doing all of these for you, one of the major advantages that you will get from these integrated services that we are proposing is discount.” She said the two-day event will be a platform for experts and facilitators to discuss major topics including Bakers Hughes integrated solutions; finding and producing bypassed hydrocarbons in Brownfields, project economics, artificial lift technologies and geo-mechanics solutions. “We have facilitators inside Bakers Hughes and we have 96 per cent local facilitators who will be delivering on the technologies. We also have two facilitators, who will be coming from the United Kingdom,” she added. Essiet-Oduah identified cost/time reduction and accuracy of results as the major advantages of the technologies. “We have real time information; you will have shorter scheduling time for your production, which is very important. Every time you spend in the oil field is money. So, we have reduced that time for you. For me, those are the major advantages - time and cost reduction and accuracy of results, including reservoir results, logging results and data acquisition results,” she said.

Afren’s Fast Track Development Model Energia To Begin Production From Ebendo 6 Well in July

NERGIA Limited, the operator of the successful E Oando/Energia-owned Ebendo/Obodeti marginal field, has announced that it is on course to complete its Ebendo 6 well this July. Speaking at NOG Tech, the Managing Director/Chief Executive Officer of Energia, Mr. Felix Valentine, said: “We are presently preparing to complete this well, which we expect will add additional 2,000-3,000 bpd in July 2013. This is following another successful drilling and completion of our Ebendo well-five in March 2013. Upon completion of well-six, Energia is expected to produce 8,000-9,000 bpd in July 2013.” He added that the company intends to increase production through aggressive drilling, saying: “We expect to ramp up field production to more than 10,000bpd with these new opportunities in 2014.” The company also plans to drill three more wells on Ebendo after drilling opened up new prospects. Wells seven, eight and nine will be drilled in the next few months. With this ambitious drilling programme it expects to ramp production up to 15,000 bpd by 2015. In preparation for the anticipated scaled up production volume, Energia has begun a major facility upgrade in line with its field development programme. The company also has plans to overcome the challenge it faces in terms of the evacuation of its crude. Currently, it uses the export line to Brass terminal, which does not have sufficient capacity. As a result, the company is working on the construction of a 53kilometre pipeline from Umusadge to Eriemu in partnership with Midwestern Oil as an alternative. The pipeline should be ready in time for production for its proposed 7, 8 and 9 wells. Mr Valentine also disclosed that the company intends, together with the marginal field cluster group of Midwestern Oil and Gas, Pillar Oil, Platform Petroleum and Chorus Energy, to build a refinery with an initial capacity of between 10,000 and 15,000 barrels of crude oil per day. He said the company was in discussions with consultants on the viability of the project. He explained that the idea of the refinery was in response to the staggering level of crude oil theft they had experienced. He said: “Our cluster group lost about $72 million to crude theft in 2012 alone and at the rate we are going, this might increase to $100 million (N15.9 billion) in 2013.” The successful indigenous company also has a 30 MMSC.lllFD gas processing plant constructed in partnership with Xenergi. The Ebendo/Obodeti Marginal Field (exObodugwa/Obodeti Marginal field) located near Kwale, in Ndokwa West LGA, Delta State was awarded to Energia and Oando, in a 55%/45% equity split with Energia as the designated Operator in the 2003 Federal Government/DPR Marginal Field rounds

Baker Hughes To Offer Integrated Solutions In Oil, Gas Operations

ORLD leading international oil service compaW ny, Bakers Hughes is set to offer one stop integrated services, that will help in enhancing time and cost reduction and accuracy of results, including reservoir results, logging results and data acquisition for the Nigerian oil and gas industry. Baker Hughes Nigeria says the intention is to ensure that where its integrated services are engaged, the company is responsible for every operation from reservoir to production. The Manager, National Content, Government Relations and Business Development of the compa-

HE just concluded fourth annual Nigerian Oil and T Gas Technology Conference and Exhibition (NOG Tech) drew participants from the oil and gas industry to discuss the issue of the important role of technology in driving efficiency, cost reduction and production increase. The Deputy Assets Manager, Afren Plc, Mrs Obehi Eremiokhale who spoke on the experience of her company said that while the conventional development model could take more than 5 yrs to get to first oil, the new fast track development model deployed by Afren takes 2-3 yrs. She said the elements of the model which include, planning, regulatory, high technical capacity, quick access to funds, financial discipline, understanding risks and uncertainties make it possible for parallel activities like discovery and approval to happen concurrently. Some of the benefits of the new model she said include early cash flow, minimum long-term capital exposure, technological edge and opportunities for partnerships to build capacity. She said the model could however face some significant challenges but which can be overcome by pro active planning, early engagement with governments, communities and partners. Other steps include forming joint teams with contractors to achieve timelines, making flexibility and effective communication a key tool and a firm, discipline and common sense approach to spending.

MIDSTREAM NEWS

Dangote Refinery Likely To Be Located In Olokola FTZ, Ondo State

oil demand is expected to rise from 88.9 million barrels a day in 2012 to 89.7 mb/d in 2013, driven almost entirely by the non-OECD regions, non-OPEC supply is projected to grow by 1.0 mb/d, and that OECD stock levels remain comfortable. Taking these developments into account, the second half of the year could see a further easing in fundamentals, despite seasonally-higher demand. In the light of the foregoing, the Conference again decided that Member Countries should adhere to the existing production ceiling of 30.0 mb/d. Once more, the Conference agreed that member countries would, if required, take steps to ensure market balance and reasonable price levels for producers and consumers, and member countries reiterated their readiness to rapidly respond to developments that might place oil market stability in jeopardy. The Conference decided that its next Ordinary Meeting will convene in Vienna, Austria, on Wednesday, 4 December 2013.

OGINTELLIGENCE can reveal that Aliko Dangote, N the richest man in Africa, plans to locate the refinREGULATORY NEWS ery he is set to build, which he believes will double Nigeria’s capacity, in Olokola Free Trade Zone OFTZ in Ondo State. A senior official of the company, who asked not to be named, said that one of the factors considered for the location of the refinery is that it is the biggest deep seaport in the country and other big industries are located there. Besides, Ondo State is one of the oil producing states in the country. The source added that stable crude oil supply was also a vital element in the choice of the location for the refinery because Chevron and a number of other oil producers have oil fields in the oil-rich region of the state. The source explained that necessary approvals had been secured for the refinery, adding that the Dangote Group was just waiting for the equipment to begin to arrive. Another source said that Dangote, who was listed on Monday as the first African entrepreneur to lay claim to a $20 billion fortune and one of the 25 richest men in the world, intends to put down $4 billion of his personal fortune to build the refinery, while international financial institutions were to raise the balance. He has since confirmed that he has secured $4.25 billion loans from two offshore banks and some Nigerian banks to build his $8 billion refinery. Dangote had, on his 52nd birthday in April announced plans to invest up to $8b billion in building an oil refinery with capacity for around 400,000 barrels a day by late 2016. On why Lagos was not chosen, industry analysts said that Lthough the state was a coastal state, Dangote would have had to build extensive pipelines to transfer crude from the oil fields to the refinery, thereby

DOWNSTREAM NEWS

Britannia-U’s Enhanced Marginal Field Operations

URING her presentation at NOG Tech on chalD lenges faced and synergies created in saving costs and enhancing marginal field operations,

Chairperson/Chief Executive Officer, Brittania U, Uju Ifejiaka, said her company had to brave all odds to be able to achieve the milestone of being the only marginal field operator among those with fields within the shallow waters to bring its field into production. She noted that the $23m loan received from Union Bank was the lifeline the company needed to make this possible, adding that securing a loan was initially a major challenge as most bank employees do not understand that a proven and certified reserve is always a bankable asset. She added that the company is also faced with drilling challenges, as rig owners try to exploit and take undue advantage of marginal field operators by giving out rigs that are not in good shape. Notwithstanding that, she said the company has been committed to addressing the twin issues of flaring and communities engagement by adopting sonic flare tips to avoid flaring and having direct interface with the host communities (Oghulagha Kingdom) which comprises of seven communities to meet their infrastructural and economic empowerment needs. She explained that currently the company produces 2.2mmscfd of gas from its Ajapa field out of which 1.8mmscfd is reserved to power the production system on board the FPSO owned by the company. To address some of the challenges she called for more interface between the government and management, tax holidays for fields in production, providing funding support at a low interest rate for those operators who are yet to get into production as well as more opportunities for those who have demonstrated capabilities. On future plans by the company, she disclosed that the company intends to drill more wells. She also said that a new FPSO with at least 50,000bbls daily production capacity with a gas solution is to be built. The company also intends to acquire more assets for exploration and production across the sub-region and is seeking new partnerships.

in association with

OPEC daily basket price stood at $100.93 a barrel Thursday, 6 June 2013

HE price of OPEC basket of twelve crudes stood T at $100.93 dollars a barrel on Thursday, compared with $101.09 the previous day, according to OPEC Secretariat calculations. The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

OPEC Concludes 163rd Meeting With Output Unchanged

HE 163rd Meeting of the Conference of the T Organization of the Petroleum Exporting Countries (OPEC) convened in Vienna, Austria, on 31 May 2013, under the Chairmanship of its Alternate President, HE Dr Abdel Bari Ali Al-Arousi, Minister of Oil and Gas of Libya and Head of its Delegation has concluded. The Secretary General reviewed recent oil market developments, in particular supply/demand projections, as well as the outlook for the second half of 2013, noting that the relative steadiness of prices during 2013 to-date was an indication that the market was adequately supplied, the periodic price fluctuations being a reflection of geopolitical tensions. The Conference observed, however, that, whilst world economic growth was projected to reach 3.2% in 2013, up from 3% in 2012, downside risks to the global economy, especially in the OECD region, remain unchecked. The Conference noted, moreover, that, while world

EITI Approves New Oil Reporting Standard To Ensure More Transparency HE 6th Extractive Industries Transparency T Initiative (EITI) Global Conference, which took place in Sydney on the 6th of June, has come to an end with the new EITI Standard agreed and launched. The group believes the new Standard will ensure more transparency in the years ahead. The meeting was focused on how transparency and EITI is leading to change in 39 implementing countries, particularly Nigeria, which won an award at the event. Speakers from 16 of the 39 EITI implementing countries made commitments on how they will develop the EITI process to enhance governance of the extractive industries in member countries. EITI has a robust and flexible methodology, known as the EITI Standard that ensures that a global standard is maintained throughout the different implementing countries. Implementation itself, however, is the responsibility of each country. The EITI Standard establishes the methodology that countries need to follow to become EITI compliant. Claire Short, EITI Chair, had previously explained the rationale behind the changes in the EITI Standards: “There is an emerging consensus on changes that will ensure higher quality EITI Reports, simpler implementation and use of the EITI as a platform for wider reforms.” The revised Standard to be implemented will require more than just the disclosure of revenue data. EITI will now be required to obtain and publish information: How extractive industry revenues are recorded in national budges An overview of licences and licence holders Payments to government broken down by each company and by revenue stream Production volumes Transfers from central to local governments Volumes sold and revenues received Quasi-fiscal expenditures Sale of state-owned assets Financial transfers within the state Industry watchers believe the new Standard will make the oil and gas industry much more transparent. In Nigeria, where the EITI Standard is implemented by the Nigerian Extractive Industries Initiative (NEITI), it is believed that the industry will finally have to clean up its act as government will have to come clean on volumes of oil being sold, to whom they are being sold and for how much. Licence awards will have to be made public through NEITI reporting which will throw the spotlight on previously opaque “discretionary” licence allocations. Having won best reporting nation award, there’s no going back for NEITI now in their quest to make the oil and gas industry transparent. Short commended Nigeria at the award ceremony, saying: “While implementation by other member countries was limited to reconciliation of revenue flows of what companies paid against what government received, the Nigerian government through parliamentary legislation extended the mandates of NEITI to include independent physical and process audits.” One industry source commented on the new Standard, saying: “By including contracts and licenses, beneficial ownership, state-owned companies and production information, the new Standard could make EITI more effective in addressing the vast governance challenges facing resource-rich countries.”

THE GUARDIAN, Monday, June 17, 2013

Lead Capital Stock Valuation

COMPANY’S RESULT

CONTINUE FROM PAGE 30

STOCKWATCH

THE GUARDIAN, Monday, June 17, 2013

STOCKWATCH

What is an emerging market economy? INTRODUCTION An emerging market economy (EME) is defined as an economy with low to middle per capita income. Such countries constitute approximately 80% of the global population, and represent about 20% of the world’s economies. The term was coined in 1981 by Antoine W. Van Agtmael of the International Finance Corporation of the World Bank. Although the term “emerging market” is loosely defined, countries that fall into this category, varying from very big to very small, are usually considered emerging because of their developments and reforms. Hence, even though China is deemed one of the world’s economic powerhouses, it is lumped into the category alongside much smaller economies with a great deal less resources, like Tunisia. Both China and Tunisia belong to this category because both have embarked on economic development and reform programs, and have begun to open up their markets and “emerge” onto the global scene. EMEs are considered to be fast-growing economies. WHAT AN EME LOOKS LIKE EMEs are characterized as transitional, meaning they are in the process of moving from a closed economy to an open market economy while building accountability within the system. Examples include the former Soviet Union and Eastern bloc countries. As an emerging market, a country is embarking on an economic reform program that will lead it to stronger and more responsible economic performance levels, as well as transparency and efficiency in the capital market. An EME will also reform its exchange rate system because a stable local currency builds confidence in an economy, especially when foreigners are considering investing. Exchange rate reforms also reduce the desire for local investors to send their capital abroad (capital flight). Besides implementing reforms, an EME is also most likely receiving aid and guidance from large donor countries and/or world organizations such as the World Bank and International Monetary Fund. One key characteristic of the EME is an increase in both local and foreign investment (portfolio and direct). A growth in investment in a country often indicates that the country has been able to build confidence in the local economy. Moreover, foreign investment is a signal that the world has begun to take notice of the emerging market, and when international capital flows are directed toward an EME, the injection of foreign currency into the local economy adds volume to the country’s stock market and long-term investment to the infrastructure. For foreign investors or developed-economy businesses, an EME provides an outlet for expansion by serving, for example, as a new place for a new factory or for new sources of revenue. For the recipient country, employment levels rise, labor and managerial skills become more refined, and a sharing and transfer of technology occurs. In the long-run, the EME’s overall production levels should rise, increasing its gross domestic product and eventually lessening the gap between the emerged and emerging worlds. PORTFOLIO INVESTMENT AND RISKS Because their markets are in transition and hence not stable, emerging markets offer an opportunity to investors who are looking to add some risk to their portfolios. The possibility for some economies to fall back into a not-completely-resolved civil war or a revolution sparking a change in government could result in a return to nationalization, expropriation and the collapse of the capital market. Because the risk of an EME investment is higher than an investment in a developed market, panic, speculation and knee-jerk reactions are also more common - the 1997 Asian crisis, during which international portfolio flows into these countries actually began to reverse themselves, is a good example of how EMEs can be high-risk investment opportunities. However, the bigger the risk, the bigger the reward, so emerging market investments have become a standard practice among investors aiming to diversify while adding risk. LOCAL POLITICS VS. GLOBAL ECONOMY An emerging market economy must have to weigh local political and social factors as it attempts to open up its economy to the world. The people of an emerging market, who are accustomed to being protected from the outside world, can often be distrustful of foreign investment. Emerging economies may also often have to deal with issues of national pride because citizens may be opposed to having foreigners owning parts of the local economy. Moreover, opening up an emerging economy means that it will also be exposed not only to new work ethics and standards, but also to new cultures. The introduction and impact of, say, fast food and music videos to some local markets has been a by-product of foreign investment. Over the generations, this can change the very fabric of a society and if a population is not fully trusting of change, it may fight back hard to stop it. CONCLUSION Although emerging economies may be able to look forward to brighter opportunities and offer new areas of investment for

foreign and developed economies, local officials in EMEs need to consider the effects of an open economy on citizens. Furthermore, investors need to determine the risks when considering investing in an EME. The process of emergence may be difficult, slow and often stagnant at times. And even though emerging markets have survived global and local challenges in the past, they had to overcome some large obstacles to do so. HOW EDUCATION AND TRAINING AFFECT THE ECONOMY INTRODUCTION Why do most workers with college degrees earn so much more than those without? How does a nation’s education system relate to its economic performance? Knowing how education and training interact with the economy can help you better understand why some workers, businesses and economies flourish, while others falter. As the labor supply increases, more pressure is placed on the wage rate. If the demand for labor by employers does not keep up with the supply of labor, then the wage rate will be depressed. This is particularly harmful for employees working in industries that have low barriers to entry for new employees, i.e. they do not have high education or training requirements. Industries with higher requirements tend to pay workers higher wages, both because there is a smaller labor supply capable of operating in those industries and because the required education and training carries significant costs. THE ADVANTAGES OF EDUCATION TO A NATION Globalization and international trade requires countries and their economies to compete with each other. Economically successful countries will hold competitive and comparative advantages over other economies, though a single country rarely specializes in a particular industry. This means that the country’s economy will be made of various industries that will have different advantages and disadvantages in the global marketplace. The education and training of a country’s workers is a major factor in determining just how well the country’s economy will do. The study of the economics of training and education involves an analysis of the economy as a whole, of employers and of workers. Two major concepts that influence the wage rate are training and education. In general, well-trained workers tend to be more productive and earn more money than workers with poorer training. TRAINING A successful economy has a workforce capable of operating industries at a level where it holds a competitive advantage over the economies of other countries. To achieve this, nations may try incentivizing training through tax breaks and write offs, providing facilities to train workers, or a variety of other means designed to create a more skilled workforce. While it is unlikely that an economy will hold a competitive advantage in all industries, it can focus on a number of industries in which skilled professionals are more readily trained. Differences in training levels have been cited as a significant factor that separates rich and poor countries. Although other factors are certainly in play, such as geography and available resources, having better-trained workers creates spillovers and externalities. For example, similar businesses may cluster in the same geographic region because of an availability of skilled workers (e.g. Silicon Valley). FOR EMPLOYERS Employers want workers who are productive and require less management. Employers must consider a number of factors when deciding on whether to pay for employee training. Will the training program increase the productivity of the workers? Will the increase in productivity warrant the cost of paying for all or part of the training program? If the employer pays for training, will the employee leave the company for a competitor after the training program is complete? Will the newly trained worker be able to command a higher wage? Will the worker see an increase in his or her bargaining power? While employers should be wary about newly trained workers leaving, many employers require workers to continue with the firm for a certain amount of time in exchange for the company paying for training. Businesses may also face employees who are unwilling to accept training. This can happen in industries dominated by unions, since increased job security could make it more difficult to hire trained professionals or fire less-trained employees. However, unions may also negotiate with employers to ensure that its members are better trained and thus more productive, which reduces the likelihood of jobs being shifted overseas. FOR WORKERS

Workers increase their earning potential by developing and refining their capabilities. The more they know about a particular job’s function or the more they understand a particular industry, the more valuable they will become to an employer. Employees want to learn advanced techniques or new skills in order to vie for a higher wage. Usually, workers can expect their wages to increase at a smaller percentage than the productivity gains by employers. The worker must consider a number of factors when deciding whether to enter a training program: How much extra productivity would he or she expect to gain? What is the cost of the training program? Will the worker see a wage increase that would warrant the cost of the program? What is the labor market like for a better-trained professional? Is the market significantly saturated with trained labor already? Some employers pay for all or a portion of the expense of a program, but this is not always the case. In fact, the worker may lose wages if the program prevents him or her from working. FOR THE ECONOMY Many countries have placed greater emphasis on developing an education system that can produce workers able to function in new industries, such as those in the fields of technology and science. This is partly because older industries in developed economies were becoming less competitive, and thus were less likely to continue dominating the industrial landscape. In addition, a movement to improve the basic education of the population emerged, with a growing belief that all people had the right to an education. When economists speak of “education,” the focus is not strictly on workers obtaining college degrees. Education is often broken into specific levels: Primary – referred to as elementary school Secondary – includes middle schools, high schools and preparatory schools Post-secondary – universities, community colleges and vocational schools A country’s economy becomes more productive as the proportion of educated workers increases, since educated workers are able to more efficiently carry out tasks that require literacy and critical thinking. As stated earlier, better-educated workers tend to be more productive than less educated ones. However, obtaining a higher level of education also carries a cost. A country doesn’t have to provide an extensive network of colleges or universities in order to benefit from education; it can provide basic literacy programs and still see economic improvements. Countries with a greater portion of their population attending and graduating from schools see faster economic growth than countries with less-educated workers. As a result, many countries provide funding for primary and secondary education in order to improve economic performance. In this sense, education is an investment in human capital, similar to investment in better equipment. According to UNESCO and the United Nations Human Development Programme, the ratio of the number of children of official secondary school age enrolled in school, to the number of children of official secondary school age in the population (referred to as the enrollment ratio), is higher in developed nations than it is in developing ones. This differs from education spending as a percentage of GDP, which does not always correlate strongly with how educated a country’s population is. Therefore, a country spending a high proportion of its GDP on education does not necessarily make the country’s population more educated. For businesses, an employee’s intellectual ability can be treated as an asset. This asset can be used to create products and services which can then be sold. The more well-trained workers employed by a firm, the more that firm can theoretically produce. An economy in which employers treat education as an asset in this manner is often referred to as a knowledge-based economy. Like any decision, investing in education involves an opportunity cost for the worker. Hours spent in the classroom cannot also be spent working for a wage. Employers, however, pay more wages when the tasks required to complete a job require a higher level of education. Thus, while wage earning might be lowered in the short-term as an opportunity cost to becoming educated, wages will likely be higher in the future, once the training is complete. CONCLUSIONS The knowledge and skills of workers available in the labor supply is a key factor in determining both business and economic growth. Economies with a significant supply of skilled labor, brought on through school education as well as training, are often able to capitalize on this through the development of more value-added industries, such as high-tech manufacturing.

THE GUARDIAN, Monday, June 17, 2013

BusinessInterview

How to promote ethical standard in Nige

Adegbesan

Sola Adegbesan is the President of Financial Markets Dealers Association (FMDA), formerly known as Money Market Association of Nigeria. A Chartered Accountant, with banking career spanning various experiences at Guaranty Trust Bank, Citibank (Nigeria International Bank) and StanbicIBTC, he explained in this interview with BUKKY OLAJIDE, the strategies that could promote ethical practice in the financial market. Excerpts. O which extent has the nation’s financial T market dealers been reacting to global trends? The global financial meltdown and its attendant effects had prompted most economies across the world, with strong emphasis on the financial services industry, to go back to the drawing board, basically to re-strategize and re-position the economy to take advantage of the emerging business opportunities. Nigeria is not left behind in this global quest for financial markets transformation, growth and development. On every sphere and fronts, strategic steps are being made to deepen the financial market through introduction of more financial products, strengthen laws and regulations that drive ethics and professionalism. This is what the association represents and projects in Nigeria. More often than not, the quest and desire is more encapsulated in the philosophy, aims and objectives of the Financial Markets Dealers Association (FMDA), and clearly spelt out in the Memorandum and Article of Association. In addition to the four Workgroup discussed above, the association has registered another Workgroup - Equity and Proprietary Traders with the hope that those who take positions in the equity market can come together. Other notable market development strategic initiatives at different stages of completion

are: Introduction of Inter Dealer Brokership (IDB) for Bonds Dealers Workgroup, under the auspices of ICAP South Africa, providing a trading platform incorporating all instruments, bilateral netting and confirmation for foreign exchange transactions and establishing a fully automated dealing/simulation room in the association’s secretariat to promote capacity building in the area of financial markets, mostly on treasury related products/instruments. What prompted the change of name from money market to financial markets dealers? In the past when it was called the Money Market Association, it was restricted to treasury operators of only banks. But there was clamour and the need to include treasury operators of non-banks institutions, so

the name had to be changed to reflect the new encompassment of all sorts of financial market dealers. Regardless of whether you are in the bank or corporate, you can be a member of financial dealers. What has the association mapped out to achieve under your tenure? One of the major points on the agenda is to ensure that we expand the product base of the financial market and our specific focus have been on products that will develop the market, expand financial access and help mitigate risks. The association functions through the following operating units as workgroups: Bond Dealers Workgroup, Money Market Dealers Workgroup, Foreign Exchange Workgroup, Swaps and Derivatives Workgroup. How would you assess the impact of FMDA so far on the average citizen?

It is normal for us to see ups and downs in the market and there is nowhere in the world where you have a market that remains unchanged throughout the duration of that market. So, what we saw was a downside of the market and as you know, what we are now seeing is the upward trend of the market. It’s just the normal evolution of the market to have ups and downs.

What FMDA does for the average citizen is that it is an organization of financial practitioners, treasuries of different organizations that come together to act as an advocate for good policies to help the financial aspect of business. So, they give their opinions on what direction the market should take and proper governance, proper behaviour of financial market and practitioners. One thing that is clear is that in every organization, the treasury or the financial practitioner in that organization is one of the key parts to the survival of that organization. So, if you don’t have a strong wellrun treasury, there is a tendency that your organization might be at risk. What the FMDA does is that by having this organization of like minded people come together, it breeds support for each other, help advocate for proper policies and develop the market. World markets, as well as the emerging ones, have been recording only marginal gains. Do you think the capital market sector is going to recover fast like this? It depends on how you define ‘fast’. The important thing is the trajectory of the recovery- whether it’s a consistent recovery and if you ask me whether we are going to see a consistent recovery, the answer will be yes and as long as we learn from the mistakes of the past, we would definitely see

THE GUARDIAN, Monday, June 17, 2013

geria’s financial market, by Adegbesan that consistent recovery will happen. At first, I don’t think there was any failure either of the market or the government. What people should understand is that it is normal for us to see ups and downs in the market and there is nowhere in the world where you have a market that remains unchanged throughout the duration of that market. So, what we saw was a downside of the market and as you know, what we are now seeing is the upward trend of the market. It’s just the normal evolution of the market to have ups and downs. Most economies of the West African states have less productive force and are generally weak. Do you think the proposed single currency will work? I think it will work because it’s something that has already been estimated that within such an organization, you have countries with differences in size of budgets and economic power. We’ve seen it happen in the Eurozone. So, what you find in the Eurozone is that all the countries there are not equally financially capable, the important thing is for everybody to put in their contribution and for the valuation of individual countries’ currencies to be accurate. Yes, it’s not something that would stop the single currency from working. Basel III, which comes into effect this year is said to be complex with respect to certain contents in it. What is your take on this? My view is that because something is complex, does not mean that one should not do it. Sometimes things are difficult, but if that’s what needs to be done, that’s what should be done. Choosing Base III is a step in the right direction and all it just needs is to work harder than usual to ensure that it succeeds. What about the highly disproportionate deposit and lending rates? I can only speak for the industry to the extent that bank charges are functions of the risk that they have evaluated and that the cost of a deposit is a function of the liquidity in the system. What you find is that different customers and different sectors or different tiers of customers get different pricing. So, it’s not a one-price factor and I think it’s all part of our development that as the risk reduces, the pricing generally across board reduces as well. South Africa is the continent’s biggest economy. Can’t we replicate its growth strategies here? I believe we can and if you check, you will find out that there are already estimates in place that signifies the possibility in the future. Years to come, there is a possibility that Nigeria’s economy might outgrow South Africa’s economy. As you can see, our average Gross Domestic Product (GDP) growth rate is somewhere between six and seven per cent, which is significantly more than what you get in South Africa and if it continues that way, sometimes in the future, we will see Nigeria’s economy grow bigger than South African economy. Recently, some Bureaus De Change were closed down. What impact will this have on the foreign exchange market? It has not had any real impact. The Bureaus de Change that were closed were on the basis of certain documentation that the Central Bank said was incomplete. Those who had the documentation but were hit by the measure, have gone back to the Central Bank, but we’ve not seen any significant change in the market. Is the proposed Investors Protection Fund going to achieve its stated objectives? It is actually a good idea, but there is one or two things that still need to be put in place both from player’s perspective and regulators’ perspective to allow it work. But the key thing is that for the infrastructure fund to work, there has to be a conducive environment for pension fund to be able to invest in it in terms of regulation. Do you think investment in Treasury Bills in

One of the major points on the agenda is to ensure that we expand the product base of the financial market and our specific focus have been on products that will develop the market, expand financial access and help mitigate risks. the country is elitist? No, I do not agree. You can invest in Treasury Bills for a sum as little as N10,000. So, if you have N10,000, you can invest in Treasury Bills and you can do so through the bank, or stock broking firms. There is no classification or rules that allows restriction of any Nigerian citizen from investing in Treasury Bills. We’ve seen a number of states raising bonds and we’ve seen the effects of the bonds they have raised. One example is that of Lagos State and some of the funds they’ve raised is being used in infrastructure. Bond is a way of financing that if well used will be very beneficial to the citizen each of the states. Countries now go to the Middle East to borrow because of the interest-free factor, but Nigeria has no sukuk under the Islamic financing model. How can we join them? The Central Bank some years ago had licensed two institutions to undertake Islamic banking and I know that they accessed different levels of development, but it is not something that can’t be done in Nigeria. I think it all depends on customers because every customer should have a choice as to what kind of banking they want. So it has been licenced in Nigeria. After the global financial crisis, a lot of countries seem to have now recovered. Has Nigeria joined the economies that have recovered? I would not say that Nigeria has not recovered. I will definitely say that Nigeria has done well in terms of the value of the currency. What we need to realise is that Nigeria is one of the only countries that had a stable currency last year and the year before. This is largely on the back of the efforts of the Central Bank. If you look at most other African countries, they experienced significant depreciation of their currency in 2012 for example, Nigeria’s currency was and by 2013, Nigeria’s currency has even appreciated. How business-friendly is the prevailing interest rate regime? Increases in interest rates that we saw last year were necessary even through some people think it was difficult but at that point in time, it was something that was necessary. It was painful but necessary. The result of it is that we had a stable currency last year and this year, we’ve even seen the Naira appreciating. The CBN has been able to handle a very tough financial year in 2012. I agree with CBN because you can’t do all the works, achieve results on day one and start changing. It is good to allow the benefits of what you’ve done become entrenched and sustainable. They have the fear that if they change back or adjust the MPR too quickly, the pain and benefits gained will be lost very quickly. So, I believe when the time comes for the Central Bank to reduce the MPR, they will but I don’t expect them to do it too quickly at the risk of losing the benefits of why they increased it in the first place.

THE GUARDIAN, Monday, June 17, 2013

NigeriaCapitalMarket NSE Daily Summary (Equities) as at Friday PRICE LIST OF SYMBOLS TRADED FOR 14/06/2013

THE GUARDIAN, Monday, June 17, 2013

66 CAPITAL MARKET

NSE Daily Summary (Equities) as at 14/06/2013

PRICE GAINERS

LOSERS

Total posts N217. 8 billion turnover, N4.67 billion profit in 2012 By Helen Oji OTAL Nigeria Plc has postT ed a turnover of N217.84 billion in its 2012 operations, against N173.95 recorded in 2011, while profit after tax also increased from N3.81 billion in 2011 to N4.67 billion during the year under review. Reviewing the company’s performance at the 35th yearly general meeting of the company in Lagos at the weekend, the company’s Chairman, Mr. Momar Nguer explained that profit before tax stood at N7 bil-

lion, from N5.9 billion in 2011, adding that earning per share also rose from 11.23kobo to 13.76kobo in 2012. Based on the improved performance, the company directors are proposing a dividend of N2.72 billion, translating to 800kobo per share to be distributed as final dividend for 2012 financial year. The company has earlier distributed N1.02 billion dividend, culminating to 300kobo per share for the year ended December 31,2012.0.

Nguer assured shareholders that the company was well positioned to overcome the challenges of the business environment. “We expect 2013 will be a year that will provide us the opportunities for growth and investment and within which we shall consolidate on our past achievements, take advantage of the projected growth the Nigerian economy will offer and deliver value to our shareholders and other stakeholders. “We also envisaged that the year will not be without its

own challenges but your company is well positioned to overcome the challenges of the business environment as she has the human capital and experience to do so,” he assured. He explained that the company was one of the major players in the solar energy industry with the acquisition of 66 per cent stake in Sun Power which is one of the leading solar energy operators in the United States of America. He pointed out that the company would roll out a new social business line

called Solar Development Project aimed at providing accessible energy solutions to low-income segment in the next few months. The company, according to the chairman, has commenced remodeling of its stations in line with the T-air concept. The objective, he said, was to reinforce its network identity with a resolutely contemporary image and installations that were more energy-efficient as well as enable its sales outlet to blend harmoniously with the environment.

“The T-air provides a great opportunity for us as a company to differentiate ourselves from our competitors as it projects a strong and positive brand identity and delivers the brand promise of top quality which evokes customer loyalty.” He said that the company had concluded plans to open a premium car wash service where customers could conveniently wash their cars using the automated jet wash service at Abuja in the next two months, adding that this would be extended to other stations within the year.

THE GUARDIAN, Monday, June 17, 2013

Opinion Of PDP, moral authority and discipline By Mohammed Zagga HICH political party that is determined to W survive and remain relevant would fasttrack its own ruin by creating needless acrimony and division? Isn’t the Peoples Democratic Party (PDP) pushing its own luck too far by its arbitrary use of power against members that express legitimate dissent against injustice or the abuse of democratic values? In the words of the former South African President and nationalist, Mr. Nelson Mandela, “power may belong to the strong, but this is only for a while.” The suspension of Governor Aliyu Wamakko of Sokoto State and his Rivers State counterpart, Mr. Rotimi Amaechi, has opened the floodgate to public debate about the sincerity of the PDP national leadership to enforce or preach about discipline among members. Both Wamakko and Amaechi were suspended for alleged anti-party activities. Wamakko, who was the latest victim of this hasty and ill-motivated suspension, was accused of not recognising the Godswill Akpabioled PDP Governors’ Forum. Nobody is in doubt about the power of the PDP juggernaut, but we should also be concerned about how that power is used against dissenting members who have chosen to follow their convictions about certain democratic issues. Governors who are elected in their own right just as the President should be treated with respect. Despite officially denying the allegation earlier that he never once told anybody that he didn’t recognise Akpabio as the Chairman of PDP Governors’ Forum, the PDP still went ahead to suspend Wamakko. How can a party that produces leaders by imposition expect to exercise moral authority? Which of the current members of the National Working Committee of the party was properly elected, including its chairman, Alhaji Bamanga Tukur? At the northeast zonal congress to elect leaders of the party, Bamanga Tukur was resoundingly defeated by Babayo from Gombe State. Being President Jonathan’s candidate for

PDP national chairmanship, Bamanga’s defeat threw the party into discomfiture. His defeat was seen as a humiliation of the President and to save their faces, Babayo was pressured to give up his victory so that Tukur could become chairman through the so-called “consensus arrangement” of the PDP. Chief Tony Anenih, the current Chairman of the Board of Trustees, also emerged in similar arrangement. His emergence as BOT Chairman was a carefully choreographed political charade. Party leaders were cocooned in the presidential villa and, since Anenih was the President’s candidate, they found themselves confronted with a fait accompli. Everybody must bow to the wishes of the President, whether they are just or not. One must admit, however, that President Jonathan thoroughly learnt the art of these political intrigues from his estranged mentor, former President Obasanjo. In this regard, how can leaders that emerged through unfair means command the moral authority to discipline anybody? How can you be a beneficiary of injustice and then expect to be taken seriously? As Sheikh Usmanu Danfodio, the Islamic reformist famously said, “a society can endure unbelief but it cannot endure injustice.” How can a political party that is allergic to free and fair election to produce its leaders take the moral high ground to preach about discipline? Once you are imposed on others, you may automatically live with a moral and psychological burden of unease. The feeling of being tolerated rather than loved is not worth the unfair “victory” you gained over others. For a political party enmeshed by the cobweb of moral double standard, how can the PDP leaders justify suspending its members for the so-called anti-party activities? How can you continue to produce leaders by unfair means and expect the party not to run into troubled waters of acrimony and division? Achieving power by unfair means is a moral pyrrhic victory. And therefore, a party ruled by such order cannot effectively control dissent. If

the so-called PDP National Working Committee suspends more and more Governors for alleged “indiscipline,” it may only make the party more fissiparous and vulnerable; especially with the 2015 elections are two years away from now. Humiliating governors that worked strenuously for the party victory like Wamakko is politically tactless and unwise. How can you be a master that destroys his slaves without ultimately provoking revolt and fissures? Most of the influence peddlers around the President cannot deliver even their wards in their immediate neighbourhoods. The PDP elements in Sokoto who are fighting Wamakko were the same fellows that couldn’t deliver the state to the party in 2007. Impressed by Wamakko’s enormous popular appeal, former President Obasanjo wooed him away from the ANPP into the PDP. And that political masterstroke by Obasanjo had done the trick. Without Wamakko, the Sokoto State chapter of the PDP had no candidate with enough formidable popularity to unseat former Governor Bafarawa’s party (DPP) from power in 2007. A defeated former Senator from Sokoto, who scored seven votes at the primaries during his illfated second term bid, is one of those PDP members from Sokoto State hanging around the presidency to realize their ambitions. Can the President help politicians that are socially isolated opportunists that detached themselves from the ordinary voters, thanks to their selfishness? In the words of the distinguished Kenyan historian and author, Professor Ali Mazrui, “The beginning of self-reform is self-criticism.” I cannot agree more. Therefore, the biggest challenge before the PDP is self-examination and honest admission that things are moving in the wrong direction. With the Northwest chapter of the PDP officially rejecting the purported suspension of Governor Wamakko by the handpicked National Working Committee of the party, how far can the Bamanga leadership ride over the storm without enormous political cost to the party? Is this the

right time to drag the PDP into needless crises that can be wisely avoided? With the emergence of APC posing a mortal threat to PDP’s political dominance, can the party afford to be suspending recalcitrant member who disagree with the party based on principle? Can the PDP afford to be causing needless ill will among its members and supporters by treating its own political family unfairly? Can it afford to destroy basic democratic tenets and hope to remain relevant and viable beyond 2015? Former Governor Timipre Sylva of Bayelsa State was even denied the right to participate in the primaries and be defeated because he was in the black book of the President. The PDP should boast of not only being the largest party in African, but also of being the most credible and democratic. Size without credibility is like a body without a soul. Impunity has become a culture in the PDP and anybody that dares to express dissent is subjected to humiliation. The party only obeys court orders if it is expedient or when it falls in line with its hidden agenda. The party had no hesitation obeying a court order in respect of Oyinlola because it coincided with its agenda to get rid of Obasanjo loyalist in the party. President Jonathan should not allow himself to be manipulated by opportunists who don’t care about the future of the party. These self appointed soldiers of the President may ultimately harm the PDP by their excesses. Our President should reject the idea of fighting too many perceived enemies at different fronts or else, he may find himself leading exhausted troops! What is the need for all these suspensions and threats of expulsions when the PDP faces the bigger and daunting challenge of neutralising the APC and preventing it from defeating and demystifying the ruling party? • Zagga, a journalist based in Abuja, is a commentator on national issues.

Accountability impediment to good governance (1) By Emeka Ejikonye ERTAINLY, any effort at managing social affairs must proceed C from a vivid grasp of the existing developmental epoch of the target society. So also, this primary concern of governance is best clarified through reports from social commentaries in the mass media. This being the case, the obvious conclusion from the Nigerian scenario is one of a mass citizenry that is still stuck at the lowest but strongest rung of Abraham Maslow’s hierarchy of human motivational incentives (that is, the quest for food and water, shelter, healthcare, security, sexual gratification, etc). Being physiological needs that are readily satisfied with money, it is not surprising that the major preoccupation of the average Nigerian is an overriding quest for this instrument of satisfying these inalienable requirements of human survival; he/she would readily trade any other comfort for monetary gain (through ethical or corruptive means). Evidently, this scenario is an indication that the standard of satisfaction of human physical needs in Nigeria is low. Thus confirming ours as a poor society, this implies that the ‘mission’ (in local parlance, ‘agenda’) of whatever Federal Government of Nigeria should be driven by no other ‘vision’ than ‘poverty eradication’. Unfortunately, the lack of ‘public accountability’ in the governance effectively impedes every genuine and sincere effort of successive Nigerian federal governments at translating their policy statements into social reality. This assertion suggests that the firm establishment of ‘public accountability’ into the administrative system will eliminate the readily observable unethical practices usually blamed for the inability, or outright failure, of the governments to deliver on the public service imperative. Certainly, the culprits for the virtual collapse of social production in Nigeria are the pervasive corruption, fiscal indiscipline, lack of statistical data in governance, and wrong-deployment and under-utilisation of skilled workforce. A recent research effort has traced this problem to the improper founding of the administrative system of federal governance in Nigeria to encourage effective internalisation of the norms of operation-control so that those charged with managing the public service delivery venture can imbibe the culture of doing-it-theproper-way as a routine matter. The prevailing scenario is one of huge discretionary authority and little operation-control wherein top-level civil servants possess wide decision-making powers that often conflicts with their self-interests without a corresponding very formidable device for the coherent and systematic monitoring and evaluation of progress on the service delivery process.

This observation points, specifically, to the Permanent Secretary and Director Cadres. Indeed, the caricature of our situation is the pitiful fact that most Nigerians tend to assume that the Minister is the single most powerful individual in the ministry. Alas! A studied observation will reveal that very few Nigerian federal civil servants, if any, will dare defer to the Minister without the express consent of the almighty ‘Perm Sec’. Often, the subordinate bureaucrat will do this at a very grievous self-career peril. The most disheartening aspect of this pitiful administrative caricature is the inimical fact that there are no less than three captains piloting the ship of ministerial administration, thus: the main (or Honourable) Minister, the Minister of State and, of course, the Permanent Secretary. Woe will betide that subordinate staff that will kowtow to the Ministers without the express go-ahead of the Permanent secretary. He or she will be made to understand, through the hard way, that the Ministers are mere ‘soldier-go-soldier-come’ while the almighty Perm Sec is ‘barrack-dey-kamkpe’. ‘Persecution’ will become the middle name of such subordinate for the rest of his/her thence on-the-line-miserable-career. This scenario is traceable to the absolutely irrational, mediocrity-driven, corruptive and self-serving distinction between ‘chiefexecutive officer’ and ‘chief-accounting officer’ dubiously foisted on the federal administrative system by the top echelon of the bureaucracy. It has so rubbished any genuine and sincere effort at serving the Nigerian people such that while the Minister is merely the de-jure, the Permanent Secretary is the de-facto head of this critical channel of the public service delivery effort. For the purpose of clarity, the origin of the concept of ‘chief-executive-officer’ traces to the 19th century industrial revolution in the United States when the massive expansion in business compelled entrepreneurs to search for an identifiable individual empowered to get the job done and take full responsibility for the successes and failures of all administrative actions. Implicit and very cardinal to this ‘responsibility’ is certainly the need to ‘report’ (or ‘account’) for administrative decisions; this is the very ground on which the ‘responsibility’ thrives. In other words, ‘chief executive officer’ and ‘chief accounting officer’ are one and the same person; the ‘accounting’ process is the only means of holding the chief executive officer ‘responsible’ or liable for administrative decisions. Unfortunately, to achieve their devious and self-aggrandizing purpose of manipulating the administrative process, the top civil servants craftily inserted the inimical dichotomization to render our elected representatives mere lame ducks while usurping their function from this backdoor. Given this scenario, it is, therefore, unfair to accuse any minister of none or under-performance

since the institutional framework itself is structured, from the onset, to render him/her incapable. In bureaucratic parlance, this is “keeping in the ‘roundabout”, an outright state of “motion without movement” wherein the presidential appointee in the Ministry can never achieve the delegated mandate throughout the duration of his/her tenure. Indeed, one wonders how the President would feel if his/her authority were to be so wilfully challenged by the Permanent Secretary in the Aso Villa. Yes! If the dichotomy between ‘chief-executive officer’ and ‘chief-accounting officer’ is so noble, how come it is not extended into the Presidency? How come the Perm Sec in the Presidential Villa commands less authority than his/her counterpart in the ministry? This sordid state of affairs bedevilling federal governance in Nigeria issues from the inherent tendency of the past governments to employ ‘public accountability’ as a mere rhetorical exhortatory slogan for cajoling public sensibility rather than a deliberately designed and implemented operation-control apparatus for navigating the administrative system. In the latter sense, ‘accountability’ simply means, “the process through which a person or group of people are held responsible for their conduct in the exercise of discretionary authority”. Targeted at the greatest sense of responsibility and commitment to the highest standards of societal ethics, this implies that ‘public accountability’ thrives on the dual tenets of ‘probity’ and ‘transparency’. From the dictionary, the first aims at ‘moral uprightness’, ‘integrity’ or ‘honesty’ for binding public officials to administrative due process to eliminate despotism from governance while the other seeks to enhance the ‘capacity to easily detect’, ‘understand’ or ‘see through’ the administrative process to eliminate secrecy from governance. The problem is rooted in the failure of successive federal governments of Nigeria to address the classic administrative query, why do we require ‘public accountability’ in governance? The essence of ‘public accountability’ in governance resides in the moral question associated with institutional relationships since elected officials cannot blame anybody but must take full responsibility for the successes and failures of administrative decisions. Often viewed deceptively as hinging on informal procedures, ‘public accountability’ thrives on strong administrative control demonstrated through a deliberately designed process for providing information to assure informed decisions on the use of public resources for accomplishing specified government objectives. • To be continued. • Ejikonye wrote from Federal University, Wukari.

THE GUARDIAN, Monday, June 17, 2013

Opinion Towards quick dispensation of justice By Victor Nelson OTHING perhaps can illustrate the disilluN sionment regarding the delivery of justice in this country as the reported lamentation of Mr. Justice Okechukwu Okeke who recently retired from the Federal High Court. Speaking at a reception on his retirement, Mr. Justice Okeke informed his audience that 35,000 cases were pending in his court when he was presiding at the Federal High Court. He said he learnt that the number has since gone up to about 70,000 since he left; yet, only one judge still presides over the cases. In his words: “even if it means only mentioning the cases and taking dates, can a single judge attend to the whole matters in a day?” No doubt With the albatross of 35,000 cases hanging over his shoulder, the tortuousness of his service was best left to the outsider’s imagination. Justice Okeke is just one of many judges to have gone through similar experiences. The learned Judge hit the nail on its head by his simple deduction that the increase in the number of cases pending in law courts is attributable to shortage of judges and high rate of litigations. Obviously that inference is begging for official acknowledgment as a reason for the slow machinery of justice dispensation. But a situation whereby a judge battles with 35,000 cases is a recipe for corruption. So those who believe that the Nigerian judiciary has become tainted with the pervasive corruption in the land have a strong factor in their favour. When that factor is laced with the cumbersome processes of court; the often cramp court-rooms and court environment; the absence of facilities, the unreliability of power supply (both from the PHCN and the generators), the malfunctioning air conditioners, the tedious long-hand recording of proceedings by the judges; the non-availability of legal research assistants and the predisposition of the judges, as human beings, to these looming factors, the result is anybody’s guess but certainly in dissonance with smooth administration of justice. It is notable that the Chief Justice of the Federation, Justice Mariam Aloma Mukhtar is all too familiar with these scenarios in court. She went through them on her way to the Supreme Court which in itself is heavily saddled with pending matters. Justice Aloma has had several occasions to speak publicly about the problems of the ju-

diciary, vis-à-vis her own vision, which includes zero-tolerance for corruption and un-productivity. She recently told judicial officers: “As you are well aware and as I have reiterated on so many occasions, we have a vision of a justice system that is simple, fast and efficient. It must be responsive to the needs and yearnings of the citizenry. If the public loses respect for the Bench, the society may gradually be creeping back to the days of jungle justice, as less and less persons and institutions will be willing to entrust their disputes to us”. Similarly, she has identified poor infrastructural and institutional facilities as having a direct negative effect on the nation’s justice system. Speaking at the official commissioning of the permanent site of the Appeal Court, Ibadan last month, Mrs. Mukhtar said Nigerian courts, like many others in developing countries of the world, struggle to cope with situations like absence of standard libraries and out-dated legal infrastructure. Her words: “In this age of advancement in science and technology, I see no reason why there should be no simultaneous improvement in our court facilities. The need for courtrooms to be well equipped cannot be overemphasised. This is a necessary tool for the judiciary to enable it perform its expected constitutional role with all sense of adequacy.” Quite appropriately, Nigeria’s chief judicial officer summed it all up with a verdict that, for courts to discharge their role of dispute settlement and interpretation of law effectively, they must not be denied of requisite infrastructure, expertise and technology. Justice Mukhtar has not been alone in seeking to unravel the delay in administering justice in the country. Both she and the former Chief Judge of the Federal High Court, Justice Ibrahim Auta had also pinpointed corruption as a factor. The CJN in fact noted that from a recent study conducted by the Lagos State Ministry of Justice, it takes an average of five to nine years for a contested case to move from filing to delivery of judgment. Justice Auta is perhaps more blunt when he accused the police, lawyers, prison officials and fellow judges of contributing to the slow pace of criminal justice delivery by acts of omission or commission. “Corruption is the only reason that can explain the snail’s speed at which the administration of criminal justice is moving in Nigeria.” The CJN certainly cannot be found wanting in articulating the problems of that all-important sec-

tor she heads; and consequently seeking to solve them. In practical terms, the challenge ahead is far greater. Justice Aloma’s predecessor in office, Justice Dahiru Mustapher might have captured the issue when he stated thus: “As it stands today, it appears that the society we serve is not entirely satisfied with our performance. Hard as it may be to accept, we feel it is less important to focus on whether this assessment is fair or not. The important thing is for us to transparently come to terms with the prevailing realities, accept the gap in expectations and do our utmost to bridge it.” Surely, Justice Mukhtar did not create the loopholes afflicting the judiciary and thus causing the slow grinding of the wheel of justice. But if after all said and done, there is little or no change for the better, who else can one blame but the Chief Justice? All cases are important, but criminal matters, which often involve the liberty of the accused, are more important. Many such cases have been pending in court, for one reason or the other, for too long. The CJN ought to be particularly interested because the effect, locally, is that of justice denied – following the diction that Justice delayed is justice denied. Internationally, such delay had deeper implications, one of which is the clog it presents in attracting enduring Foreign Direct Investment (FDI) to the country. Justice Mukhtar may not be a fund keeper for the judiciary, but she is a fund manager and adviser. She has a role to play in directing appropriate expenditure first, towards meeting the infrastructure deficits she has identified as the bane of quick justice dispensation; and, not being directly in charge of all aspects of the judiciary, particularly in the states, she needs to advise the various governments accordingly. The judiciary is continually under scrutiny and test of performance and reliability. Fortunately for the institution, it has continued to survive as the hope of Nigerians despite the serious reputational bashing it has also suffered in the recent past. As a woman and the first female Chief Justice of Nigeria, Mrs. Mukhtar should strive to make a difference regarding court rules and procedure. There must be a way of ensuring that judges have research assistants to enable them sift the whiff from the chaff of legal submissions. There must be a way around the ready exploitation of countless loopholes by which some lawyers cover up their inadequacy or unpre-

paredness by seeking and obtaining adjournments endlessly. There must be a way of managing epileptic power supply to at least achieve a minimum condition of ventilation and safety for the courts. The Chief Justice has admitted on some occasions that many Nigerian laws are archaic, amounting to no more than relics of colonization. Given that law reform is slow and often expensive, there must be a way to identify the more inglorious of such archaic laws and bring them to civilization; or dispense with them altogether. Importantly, there must be a way – indeed conscious effort must be exerted – to ensure fairness of trial, and accordance of due respect to accused persons in the course of trial. Nothing must be allowed to trample on section 36(5) of the 1999 Constitution, to the effect that an accused person is presumed innocent until his guilt is proven by a court of competent jurisdiction. As the woman at the helm of judicial affairs in Nigeria, Chief Justice Mariam Aloma Mukhtar has a holistic assignment of correcting these and other ills afflicting the judiciary and thus sustaining the notion that the courts are indeed the last hope of Nigerians. Running Nigeria’s judiciary in public like the CJN does with her public statements of late is unprofessional and at variance with the standards expected of that otherwise normally conservative arm of government. These public pronouncements are reminiscent of the military style era of the 1970s when the whiplash of ‘sack with immediate effect’ was visited on the civil service with its horrendous and damaging effects. The effect sadly was the beginning of the ruin of the civil service. Civil servants have become creatively proactive in preparing for their retirement by amassing enough wealth while still in service. Is this the future we want for the judiciary? When you threaten your judges in public with fire and brimstone rather than through the civilised process of administrative circulars, the discerning public is left wondering what the motives were. The challenges are not going to be solved through knee-jerk approach, but through articulately thought-through solutions rather than the public statements about judicial cleansing that would have the unnecessary result of putting the judges on edge. • Nelson, Attorney at Law wrote from Lagos.

Counterfeiting and NAFDAC’s hi-tech strategies By Martins Ikhilae OUNTERFEITING and faking of drugs and food substances C have become a global industry, so also are the worries and concerns over the development. Particularly for Nigeria, the challenge has been the impetus needed to frontally and aggressively confront the menace. To the National Agency for Food, Drug Administration and Control (NAFDAC), Nigeria’s health boosting agency, falls that responsibility. The efforts of the Dr. Paul B. Orhii-led agency, especially its deployment of cutting edge technologies to fight and win the anti-counterfeit drugs war has gained global recognition. Take Truscan, NAFDAC’s successful deployment of this technology brought it global consciousness. There are also Black Eye and Radio Frequency Identification system (RFID). I hasten to add the Mobile Authentication Service (MAS), the world’s first anti-counterfeiting contraption which uses the SMS platform. Dr. Orhii is enthralled by MAS, especially for its cost effectiveness and immediacy of result. The simplicity of MAS is awesome. The programme involves the packaging of drugs with a scratch card placed on drug packs from the point of manufacture. When scratched, the hidden codes revealed on the packs could be sent free of charge via SMS to 38353 on the MTN, Zain and Globalcom networks. Shortly afterwards, the sender will receive a reply confirming whether the product is genuine or not. Fantastic you will say! What it means is that NAFDAC may finally have succeeded in placing the responsibility of detecting counterfeit drugs in the hands of Nigeria’s over 114 million mobile phone subscribers spread among MTN, Globacom, Airtel, Etisalat and Starcomms. It is thrilling to know that the agency is

applauded globally as the world’s first drug regulatory authority to deploy and use hand-held devices at borders for on-thespot detection of counterfeit medicines with resounding successes. While MAS may be a first choice because of its mass involvement appeal, Black Eye, Radio Frequency Identification system and Truscan equally have their own attractions. Black Eye has the capacity to screen multiple drug samples at the same time. This is how it goes: It compares a tablet that you are trying to check and tell you whether it is genuine or fake; and if you ask from the machine, it will break the product down into its active pharmaceutical ingredients; if counterfeited, it could reveal the inactive pharmaceutical ingredients. It is a ready tool in the hands of NAFDAC’s operatives because it can take up to 1,000 different tablets at the same time and break them down and tell you which one is good or bad. The Radio Frequency Identification system has the ability to track and trace regulated foods and medicines and also prevent the forgery of sensitive documents. As hinted above, Truscan is a hand-held device using Roman Spectroscopy to detect counterfeit products. With this technology, NAFDAC officials can quickly scan imported products at the ports and release them on time without compromising their quality. Nigeria is now the first country in the world to use it to detect quality of medicines. Truscan’s efficacy is underlined by the glowing tribute from Roxy Nader of the London-based independent information provider on country risk and industry research, Business Monitor International. Nader, an authority on Nigerian pharmaceutical market has this to say on the agency’s deployment of Truscan: “NAFDAC has recorded a major food and drug reg-

ulatory milestone with the acquisition of the Truscan device”. It is instructive to know that following its success in Nigeria, the Food and Drug Administration agencies in the United States, Germany, Sweden, Canada etc, have also started using it. So much is the public confidence in the technology driven war against counterfeit and fake drugs and food items in Nigeria by NAFDAC that critical stakeholders in the sector are ready to throw in everything and synergise with the agency to win the war. Removing the burden of tariff payment from consumers of the drug is a veritable incentive for its use. And so, key stakeholders in the sector (drug manufacturers) have come to the aid of consumers by accepting to fund it, although it is currently applicable to malaria drugs and antibiotics, being products most cloned and adulterated by the murderous counterfeiters. NAFDAC has assured that efforts are also on to extend the service to other general purpose drugs. The Mobile Authentication Service guarantees befitting and enduring positive corporate image for pharmaceutical companies and their products, thus ensuring high level product patronage with the attendant high revenue yield for such firms. For pharmaceutical companies that are reluctant to key into the strategy because of its perceived cost implications, they might have placed higher premiums on profitability than the lives of their customers. From the larger interest of the society, this attitude is unpatriotic. Dr. Orhii’s ongoing revolution in NAFDAC has succeeded in placing Nigeria in the league of serious countries of the world ready to do anything to protect their people from the merchants of death that drug counterfeiters have become. • Ikhilae is a Lagos-based public affairs analyst.

THE GUARDIAN, Monday, June 17, 2013

BondWatch DLM BOND WATCH: June 17, 2013

THE GUARDIAN, Monday, June 6, 2011 69

Published in association with (Regulated by the Securities & Exchange Commission of Nigeria)

THE GUARDIAN, Monday, June 17, 2013

Sports Brazil 2013 Confederations Cup

Ogba appoints Josiah, Udo-Obong as advisers

Eagles leave troubles behind in quest for glory By Christian Okpara ESPITE their late arrival in D Brazil for the on-going FIFA Confederations Cup, players and officials of the Super Eagles believe that winning the competition is a realistic objective in spite of the star-studded opposition. Nigeria begins its campaign in Brazil 2013 with a game against Tahiti this evening, and will also play world champions, Spain and Uruguay in the group. The team arrived Sao Paulo on Saturday afternoon before taking a long flight later in the evening to Belo Horizonte, venue of today’s game. In effect, the team only had one full training session in the high altitude country yesterday ahead of today’s game. Luckily, according to some of the players, their first game is a slightly light match against the tiny Polynesian island nation. Speaking on the opening match yesterday, Efe Ambrose, who has been a commanding presence in the team since Stephen Keshi became coach in 2011, said the competition could not have come at a better time. Efe, who says he would look back on this season as the best of his career no matter how the Eagles fared in Brazil, is of the opinion that the family atmosphere in the team would see them through in the group. The Celtic of Scotland star sees the Confederations Cup as “one these tournaments you might get the chance to play in only once in your lifetime, so I am very excited. It is a dream come true really. “To be playing in a great football country like Brazil, in a Confederations Cup - it is the kind of thing you dream of when you first start playing football. It is a huge achievement for me and also for this team and my country. “This tournament is special because we know we are representing the whole of Africa, and that gives us extra responsibility but extra pleasure too. And we deserve

to be here. We showed at the Cup of Nations that our teamwork and our ability is deserving of that trophy. Now we want to make sure that we represent not only Nigeria but Africa in a good manner against the best teams in the world.” Ambrose points at the team’s togetherness and will to succeed as their strongest weapon, adding, “at every tournament you will have a team that has the best players, but it is important to remember too that aspects like teamwork, determination, unity and physical preparation count for a lot. “No-one gave us a chance at the Cup of Nations because they thought we were too inexperienced, but we knew that we could do great things if we stuck together. “I am not saying we will win the Confederations Cup but we believe in ourselves, we trust in God, and with the right attitude I am sure we will have a great tournament. When you have the right ingredients, nothing is impossible. That is the way I feel about this tournament.” The defender revealed that despite the difficulties they had getting to Brazil, the Eagles had already mapped out their strategies for all the games and would not be found wanting in the competition. “Luckily after Tahiti, we will have enough time to prepare for Uruguay on Thursday before our final group game against Spain on Sunday. We will do our best, but we pray for the elements to be in our favour,” he said. One of the elements that have worked against the Eagles is the long injury list, which deprived the team of some notable stars, including Emmanuel Emenike, Victor Moses and Kalu Uche. FIFA gave Stephen Keshi up till yesterday to decide whether he will replace injured Ogenyi Onazi or not. Onazi was injured in the World Cup qualifier against Namibia on Wednesday and the doctors have been working round the clock to get him fit for the competition.

HE President of the T Athletics Federation of Nigeria (AFN), Solomon Ogba

Super Eagles’ midfielder, Mikel Obi (left) vies with Egypt’s Hossam Ghaly during the 2010 African Cup of Nations in Angola. PHOTO: AFP

Tahiti aims to avenge Egypt 2009 defeat ITH just a few hours W remaining before Tahiti make their grand entrance at the FIFA Confederations Cup 2013, their fans may be forgiven for feeling that they have a mountain to climb. In their first-ever match in this tournament, the team from the diminutive Polynesian island must lock horns with Nigeria, giants of the African game in Belo Horizonte. As they meet this challenge head-on, the Toa Aito will at least be able to count on someone accustomed to attaining summits, Teheivarii Ludivion, who describes his full-time job as ‘climber.’ While mountaineering may not be the first thing that springs to mind in connection with Tahiti, the player in question clarifies what his job entails to FIFA.com. “The kind of climbing I’m involved in is specialist con-

struction work carried out at heights,” he explained, unable to hide the pride in his voice. Bridge building, pylon installation and roof repair all constitute daily duties for the Tahitian. “In my life, football is just a leisure pursuit. It will always take second place to my work, which is more important,” he said, as the Polynesians’ debut in a major senior tournament draws ever closer, the AS Tefana centre-back, who admits to still harbouring dreams of a professional career, cannot hide his delight. “The Confederations Cup is a huge event, it’s obviously a great honour to take part in it. It’s even bigger than four years ago. This time, we’re playing against the best, and there’s no age limit,” he said, referring to his participation in the FIFA U-20 World Cup in 2009 with Tahiti.

Ludivion was one of five players in Eddy Etaeta’s squad to break new ground by competing at the prestigious youth event in Egypt. Heimano Bourebare, Steevey Chong Hue, Alvin Tehau and Lorenzo Tehau accompanied him on the North African adventure, which concluded with a group-stage defeat to Nigeria, as fate would have it. “It’s fantastic to be playing the Nigerians in our opening game. It gives us a chance for revenge. And we’ll be able to see if we’ve made any progress,” said the defender. “I remember a particularly powerful and very lively team. They impressed me at that level. I’d like to think we can do better than we did four years ago, ” he continued, hopeful there will be no repeat of the 5-0 loss of 2009, which had the dubious distinction of being Tahiti’s best

Calabar agog as top stars arrive for All Nigeria Athletics Championship THLETICS watchers from A Calabar and its environs have started trooping into the U.J Esuene Stadium to catch a glimpse of their stars ahead of the All Nigeria Athletics Championship slated for the ‘Canaan City.’ Local athletes have been training at the stadium for the

championship, which is expected to feature the country’s best stars in the race for tickets for the World Championship slated later this year. Among the stars expected in Calabar today is reigning Nigeria 100m queen, Blessing Okagbare, who is

has appointed former sprinter, Dr. Jide Josiah, and Olympics gold medalist, Enefiok Udo-Obong, as special advisers. A statement by the Communications and Media Department of the federation disclosed yesterday that Josiah would serve as the special assistant (Administration), while UdoObong would assist in the Technical area. Josiah serves on the AFN board as director, Finance and Sponsorship, while UdoObong, who anchored the men’s 4x400m relay team to a gold medal at the Sydney 2000 Olympics, and also won a bronze medal in the same event at the Athens Games, is in the Technical Department. Meanwhile, all is now set for the 2013 All-Nigeria/Cross River State Athletics Championships scheduled to hold in Calabar from June 19 to 21. The AFN disclosed that a special page dedicated to the championship has been created for breaking news and live updates. According the AFN media department, there will be AFN CRS All-Nigeria Champs2013 on Facebook while the competition can be followed live on twitter on @afncrschamp2013, even as emails and enquiries can be afncrsallsent to nigchamps2013@gmail.com

expected to lead a strong field of track and field stars into the city for the Cross River State sponsored event. Okagbare, who holds the prechampionships best times of 11.00 seconds in the 100m, 22.31 seconds in the 200m and best mark of 6.92m in the long jump, will be aiming for title number five in the 100m,

thereby becoming the first woman in championships’ history to win the blue ribband event five times consecutively. Others expected to hit Calabar from Warri in Delta State, where they have been camped, are sprinters Gloria Asumnu, Ogho-Oghene Egwero, Fred Agbaje; quartermilers, Regina George, Bukola

Abogunloko, Omolara Omotosho, Biola Onakoya, Isah Salihu, Noah Akwu; jumpers Doreen Amata, Chinazom Amadi, Shola Anota and Stanley Gbagbeke as well as sprint hurdler, Selim Nurudeen, who all competed last Friday at the Warri Relays/CAA Grand Prix.

result in Egypt. “The objective and the prematch advice we’ve been given are the same; defend. That’s the key word. We’ll see as the match develops if we have a chance of getting anything from it,” said the rangy centre-half. “I wasn’t the same footballer after the U-20 World Cup. A competition like that changes you. Undoubtedly, the experience we gained over there helped us to get to where we are today. And perhaps it also enables us to face what’s coming with more confidence.” The challenges facing Tahiti Nui, a local nickname meaning ‘big Tahiti,’ do not come any tougher. After Nigeria, they are scheduled to play Spain, the European and world champions, followed by Uruguay, Copa America winners. “Spain were also in our group four years ago. It’s excellent that we’re crossing paths again,” stated Ludivion. “Venezuela are the only ones missing, but Uruguay are a fine replacement,” added the construction worker, showing no fear of the imposing obstacles ahead. A commanding, robust presence in the heart of defence, he has developed into a crucial player for Tahiti over the past three years.

THE GUARDIAN, Monday, June 17, 2013

Table Tennis

Oribamise leads Team Nigeria to 2014 Youth Olympics qualifiers in Egypt By Olalekan Okusan EENAGE sensation, Tosin T Oribamise will spearhead Team Nigerian campaign at the African Qualifiers of the 2014 World Youth Olympic Games holding in Nanjing, China. At the maiden World Youth Olympics held in Singapore, Ondo State-born Ojo Onaolapo flew the country’s flag at the tournament and he made to the last eight of the competition as the only African player. Onaolapo’s performance attracted accolades from the world table tennis ruling body, International Table Tennis Federation (ITTF). From Wednesday in Ismailia, Egypt, 121 players from 15 nations including host – Egypt will jostle for slots at the global tournament. As Team Nigeria departs today aboard Ethiopia Airlines enroute Addis Ababa to Egypt, Oribamise will lead

the team which include, Agnes Onoja, Babafemi Babatunde, Iyabo Adebayo, Ajoke Ojomu and Olasunkanmi Oginni and the team will be coached by Dotun Ominiyi. Oribamise, Onoja and Babatunde will compete in the cadet event as well as in the junior event, while the trio of Adebayo, Ojomu and Oginni will jostle for honours in the junior event only. The championship tagged: Egypt Junior and Cadet Open will be staged in Ismailia from Wednesday 19th to Sunday 23rd June 2013 being the first of a series of tournaments where players have the opportunity to stake their claim for a place in the Youth Olympic Games. Ismailia, known as the City of Enchantment, situated in northeastern Egypt on the west bank of the Suez Canal, is where the Road to Nanjing starts. In 2013, six tournaments will be stage on the ITTF Junior

Circuit, one in each continent, form the 2013 Road to Nanjing series; the Egypt Junior and Cadet Open is the first in the series. A separate “Road to Nanjing Boys’ and Girls’ Standings,” taking results only from the six tournaments, will be published alongside the ITTF Junior Circuit Standings. To be eligible to compete in the Youth Olympic Games, players must be born between Monday 1st January 1996 and Thursday 31st December 1999. At the end of the six tournaments, the leading boy and girl from each continent plus the top 10 boys and top 10 girls on the “Road to Nanjing Standings” will receive entry to the ITTF Youth Olympic Games Qualification Tournament.

Government approves payment of Nasarawa United’s 50 per cent sign on fees ASARAWA State Governor, N Tanko Almakura, at the weekend approved the pay-

Ambassador Kanu Nwankwo (left) with one of the players during the coaching clinic in South Africa …recently.

UNICEF ambassador, Kanu, in Mubi for peaceful co-existence Eagles former SwhoUPER Captain, Kanu Nwankwo, is a UNICEF and Nigeria Football Federation (NFF) Ambassador, Nwankwo Kanu, began his duties with a visit to Vicuntim in Mubi North Local Government Area of Adamawa State and Kaduna, where he used sports to preach peaceful coexistence among Christian and Muslims last week. In Vicuntim, Kanu was the special guest in a football tournament put together by the Chief of Air Staff, Air Marshal Alex Badeh, with over 5000 Muslim and Christian pupils taking part in the game. The highlight of the occasion was when the former Ajax Amsterdam and Arsenal of England leggy forward appearing in exhibition game with the delighted children. Kanu had arrived in the venue of the event in an

Airforce helicopter. In Kaduna, Kanu used the occasion of the Fifth Chukka Charity Polo tournament to preach the gospel of peaceful co-existence among the children of the area. After the polo tournament, the former Arsenals star went into the classroom where he talked to the children. “We are brothers and sisters. This country, Nigeria, belongs to all of us whether you are a muslim or a christian. “You must see yourselves as your brothers’ keepers and shun violence and crime and also engage in meaningful and sporting activities,” Kanu charged the children. The former Ajax Amsterdam star also recently extended his ambassadorial work to South Africa where he featured in an All Stars match for the training of coaches by the World Coaches Association of Netherland Football Association (KNVB).

ment of 50 per cent sign on fees to the players of the state’s team, Nasarawa United, in a renewed effort to boost their morale in the ongoing Nigerian Professional Football League (NPFL). The players’ morale had been low following non-release of funds to offset their sign on fees, leading to an embarrassing 3-0 loss to Heartland of Owerri recently. The players had been agitating for their sign on fees before the Friday approval even though the state government was constant on settling their salaries and match bonuses. According to Special Assistant to the Governor on Sports, Silas Agera, the governor released funds to pay the players 50 per cent of the sign on fees to ensure they concentrated on doing well in the league. “Before the approval of the payment of the sign on fees, we have not owed the players a dime in terms of salaries, allowances and match bonuses. After every game, the governor ensures that without delay their allowances are settled. Only their sign on fees was pending.” He blamed the 3-0 loss to Heartland in Owerri on low morale, saying, “the boys have been agitating for their sign on fees and I believe they lost with such margin to Heartland due to low morale.”

Participants during the Cyclefest National Championship held in Lagos at the weekend.

Oyo’s Ajibade is maiden Cyclefest champion ESTERDAY was a big day for Y Oyo State’s Sodiq Godwin • Rivers pick all women medals Ajibade, who defied all predictions to win the maiden Cyclefest Cycling Championship, held in Lagos. Before the event, which started and terminated at the National Stadium, Lagos, the torchlight was on Rivers and Bayelsa states contingents following their exploits at the Eko 2012 National Sports Festival. But Ajibade had his own designs on the crown. At the 270-kilometre event, which started at the National Stadium and went through Eko Bridge - Marina - Bonny Camp - Ahmadu Bello - Bar Beach - 1004 - Falomo Bourdilon - Foreshore - 3MB Oworonshoki - Ojota Otedola Gardens - Alausa Awolowo Way – Allen/Opebi Sheraton - Bank Anthony Airport – Agege Motorway Oshodi - Anthony - Maryland -

Ikorodu Road - Western Avenue and back to the stadium on a rainy morning, Ajibade sprinted to the finish ahead of Bayelsa’s Caleb Kalizibe and Goodnews Clifford of Rivers states to win the men’s crown. Stunned by their loss, Rivers State ensured that they won all the medals in the women category with Gloria Odiase, Rita Aggo and Rosemary Marcus taking the gold, silver and bronze medals respectively. Speaking after receiving his title, an elated Ajibade told journalists “I am very happy with the organisers – Cycle Shop and GSK- for providing this opportunity to compete. I look forward to more of such with more government involvement so that Nigeria can continue to grow the

sport and become a reckonable global force in cycling. I thank God for my previous experience in Algiers, Mozambique and at the Garden City Games.” Also speaking at the event of the event, Lead Principal, Cycle Shop Limited, organisers of the event, Inyang Effiong, said, “the level of the organisation shows that Nigeria can host big cycling competitions. “Our intention as organisers is to make cycling attractive to people of all ages and profession, both as a means of livelihood as well as a recreational endeavour.” The maiden edition Cyclefest National Cycling Championship featured 250 cyclists from 16 states’ cycling teams and four recreational cycling clubs.

Nigerian National League

Inyama thumbs up referee, hails comportment of MFM players By Tony Nwanne HAIRMAN of the Nigerian C National League (NNL), Emeka Inyama has described Sunday Samuel from Ekiti State, the centre referee, who handled the Week 25 game between Mountain of Fire Ministries (MFM) Football Club of Lagos and Abia Warriors of Umuahia at the Agege Stadium on Saturday, as a perfect example of what the league wants its arbiters to be. MFM defeated Abia Warriors,

a club led by Inyama, by 2-0 in the game, but the Nigeria Football Federation (NFF) board member said the match ended peacefully because the referee ‘did not give anybody room to suspect foul play.’ According to Inyama, “I came here to watch this game because I always hear of how teams are cheated in away matches, but no sane person will say that Abia Warriors lost the game to the referee. “The referee opened up the game, which resulted in the

General Manager, Zenith Bank Plc, Ebenezer Onyeagwu (left), and Chairman, Senate Committee on Sports, Adamu Gumba, presenting the trophy to the captain of First Deepwater Basketball Club of Lagos, champions of the 2013 Zenith Bank Female National Basketball League, after the final game of the season played at the Indoor Sports Hall of the National Stadium, Lagos…at the weekend.

beautiful football we all saw today. This is what we have been preaching in the league because the NNL holds the key to Nigerian football development.” Inyama also hailed both teams for the camaraderie they displayed during and after the game, saying the showed that football could be played in an atmosphere devoid of rancour. The teams came together after the game for a group photograph, a development Inyama described as unprecedented in the league. Inyama, who went round to talk with the teams after the match, told The Guardian that the NNL was constantly looking at ways to improve on the organisation of the league, “which is why we always feel delighted when we see teams doing things the right way. “We will continue to encourage other teams to emulate sides like MFM in the interest of the game.” In other matches played at the weekend, in Division 1 A, DSS defeated JUTH of Jos 2-0, the same score line recorded by Jigawa against Ranchers of Kaduna, just as TEAP beat Plateau United 1-0, Sokoto United defeated Kogi United 3-1, with Giwa FC 2-1 better than FC Abuja.

InsideTax

THE GUARDIAN, Monday, June 17, 2013

THE GUARDIAN, Monday, June 6, 2011 77

TaxWatch IN PARTNERSHIP WITH

TheGuardian Conscience Nurtured by Truth

‘

By Taiwo Oyedele

The implication of the new definition of pensionable emolument is that all employers and employees will have to pay more.

’

HE Pension Reform Bill T 2013, which seeks to repeal the Pension Reform Act 2004 (as amended) and enact the Pension Reform Act 2013, is currently undergoing legislative process at the National Assembly. If the Bill is enacted into law in its current form, it will bring about fundamental changes in many ways. The scheme will be applicable to employers with 3 or more employees (currently 5 or more is required); the total rate of contribution will increase from the current 15% of monthly emolument (being 7.5% each by the employer and the employee) to 20% with a minimum of 12% by the employer and a minimum of 8% by the employee. Perhaps of greatest impact is the base upon which the monthly contribution is calculated. This is known as total emoluments in the proposed law as may be defined in the employee’s contract of employment but shall not be less than a total sum of basic salary, housing allowance and transport allowance. Currently, monthly emolument simply means a total sum of basic salary, housing allowance and transport allowance. The implication of the new definition of pensionable emolument is that all employers and employees will have to pay more. For in-

You may have to pay more for pension very soon

‘

A new law to bring more employers under the pension scheme and require all affected employees and employers to pay more is underway. stance, a company with a salary structure in which basic, housing and transport allowances account for about 50% of the total compensation, the employees may have to make additional contributions of over 100% of their current contributions while for the employer it could well be over 200% increase notwithstanding that the headline rates have only been increased by 0.5% and 4.5% respectively for the employee and the employer. Nigeria with a Gini coefficient of 0.49, according to the World Bank, is one of the most unequal countries in the world. The Gini coefficient is a number between 0 and 1, where 0 corresponds with perfect equality (where everyone has the same income) and 1 corresponds with perfect inequality (where one person has all the income—and everyone else has no income). Although in the real world, a perfect zero or one is impossible, Nigeria’s score shows a very high level of inequality (ranked among the top thirty) given that the world’s most unequal country as of the reference period (2010) has a Gini coefficient of 0.66. It is instructive to note that this statistics excludes the black market economy which means if incomes from illicit trade and corruption were to be considered then Nigeria will most probably be in the top ten. Anything that increases the cost of employment has the risk of further increasing the inequality as employers will have to take very hard and painful but necessary decision to lay-off some of their staff in order for their total staff cost to remain affordable. Hence, those who are unfortunate to be laid off will become poorer while those who are fortunate to keep their jobs will become richer.

...the new law should focus on how to address the thorny issues that have plagued the existing scheme including how to prevent pension scam, getting more employers to comply... and how best to channel the pool of fund for productive investments in key areas.

’

My elementary economics tells me that when people save more (which is good on one hand), they have less disposable income (which may not be so good) for economic growth especially if the savings have not been productively invested to more than offset the impact of the lower disposable income. If labour is cheap, or at least affordable, and we address the other factors of production, then Nigeria will be better able to attract manufacturing jobs which can help leapfrog the economy, reduce unemployment and create more middle class. This has been a major factor for the Chinese economy so one wonders why Nigeria is not the China of Africa. In the past two years alone, there have been a number of new laws adding to the cost of employment. Notable of these are the introduction of employee compensation scheme and the changes to the Industrial Training Fund to cover more employers and ironically reducing the percentage of refunds that employers can obtain. There is the tendency to always focus on a few listed com-

panies and multinationals when making laws that affect employment and thereby erroneously concluding that employers have the ability to pay more. Unfortunately there are only a handful of such employers with less than 300 listed companies and about the same number of unlisted multinationals out of over one million companies registered with the Corporate Affairs Commission. Even if we assume, albeit wrongly, that the 600 or so big companies can afford the additional employment cost, they in fact constitute less than 1% of the total number of companies. This is aside from enterprises and other organisations that are unincorporated but still have to comply as employers. This category of employers will also have to incur cost of group life assurance which is

mandatory under the Act. It is an established fact that small and medium scale enterprises are the largest employers of labour anywhere in the world. Therefore a logical approach would be to see any labour related reforms from the eyes of this larger group. Similarly in the public sector, many states and local governments are already groaning on the basis that they are currently spending an unsustainable portion of their revenue on recurrent expenditure which is predominantly salaries. They give this as one of the key reasons why they are unable to provide infrastructure and other social amenities. Therefore, increasing the cost of their existing workforce appears counter intuitive. In other climes, even in places where social security covers free education and free healthcare such as Norway, which incidentally is one of the most equal countries in the world, the combined contribution is about 20%. If the proposal is passed into law, the compulsory rate of pension contribution in Nigeria will be one of the highest in Africa ahead of Ghana, South Africa, Kenya, Mauritius, Angola and other jurisdictions competing for investment especially labour intensive manufacturing on the continent. This will make Nigeria more uncompetitive. Do not get me wrong, it is good to save for retirement but it has to be gradual, measured and deliberate to fit into a bigger economic strategy for long term growth. Up to the year 2000 the combined pension contribution rate was 7.5% subject to a maximum limit of N3,600 per annum. This was increased to 10% in 2001 and a maximum contribution of N52,800 per annum until 2004 with the introduction of the Pension Re-

’

About PwC PwC firms help organisations and individuals create the value they're looking for. We're a network of firms in 158 countries with close to 169,000 people who are committed to delivering quality in assurance, tax and advisory services. Tell us what matters to you and find out more by visiting us at www.pwc.com/ng

form Act which requires a combined rate of 15% without any limit as to amount. These together with other reforms such as private sector custodians and administrators have made the scheme to be successful. We have moved successfully from the days when the meager contributions were managed by government and when majority of people retired without getting any benefits from the scheme. For all intents and purposes, the contribution was a tax. On the contrary, under the new scheme since 2004, the total value of pension assets is reported to be in excess of N3.2 trillion. In my view, the new law should focus on how to address the thorny issues that have plagued the existing scheme including how to prevent pension scam, getting more employers to comply, providing clarity regarding coverage of expatriate staff, and how best to channel the pool of fund for productive investments in key areas.

Taiwo Oyedele is a Partner and Head of Tax and Corporate Advisory at PwC Nigeria. He is a regular writer and public speaker on accounting and tax matters. To get regular updates and in-depth analyses on tax matters visit Taiwo’s blog to subscribe at www.pwc.com/nigeriataxblog. Subscription is free! www.pwc.com/nigeriataxblog. Subscription is free!

THE GUARDIAN, Monday, June 17 , 2013

In association with

RealEstateWatch

THE INSTITUTE FOR REAL ESTATE EXCELLENCE (IREE)

Excellence. Integrity. Professionalism

IREE 104 - The Intelligent Buyerâ&#x20AC;&#x2122;s Guide To Acquiring A Property buyers on essential steps to take and things

THE IREE The IREE was inaugurated in 2012: Vision: To raise the standards in the Nigerian real estate industry through professional training and coaching to meet international standards.

ing, examine the walls for irregularities and cracks, check all the fixtures, piping systems, electrical wirings, roofing, and any signs that may indicate that the CHECKLIST BEFORE YOU BUY building is structurally defective. Once Cutting Edge Real Estate you buy a house, you buy its assets and 1. PROPERTY LOCATION AND TERRAIN liabilities and a house with major strucNews. Trends . Advice A key aspect of a property to consider when doing property inspection is the ter- tural defect is a big liability. 3. VERIFICATION OF PROPERTY OWNERrain or topology of the area where the he Intelligent Real Estate SHIP AND DOCUMENTS property is located. Before purchasing a property in Nigeria Series is a bi-weekly column A property can be located on a flat aimed at educating readers on ground, the slope of a hill or at the foot of especially in Lagos, you need to verify the matters relating to the real estate a hill. In Nigeria, properties located on flat owner (s) of the property and ensure that all documents such as the industry. We will be discussing the ground or on a slope are better options Certificate of Occupancy, contract of than those on the foot of a hill or various factors that affect the sales, purchase agreements, deed of drainage. This is to prevent flooding and industry, current trends and future poor drainage issues which are prevalent assignment etc are in place. It is also very projections in practicing real estate in our nation especially Lagos. Also to be important to have a Governorâ&#x20AC;&#x2122;s consent on the property which is needed for the in the 21st century as the industry is noted are the available amenities and assignment of title to use, occupy, and continuously evolving and business facilities surrounding the property and improve property with a statutory certheir positive impact on the property. is no longer business as usual. tificate. Enjoy!!! 4. PRICE Price is a deciding factor in arranging an uying or owning a property is a lifeinspection. The price of the property to time investment and it is critical be purchased has to be competitive and that great care is taken before one of a good value relative to what facilities embarks on this journey. When lookthe property would be coming with and ing for a dream home it is easy to forthe facilities. With the aid of a real estate get to consider important steps in the consultant, a great price can be achieved process and to just dive in head first. as real estate consultants have more However, when making such a huge access to property listings and can help financial commitment it is important find a home that fits your needs and that you are as informed as you possiyour budget. Once the price range specibly can be and you are fully aware of fied for the property you're interested in what you are responsible for doing is within your budget, an inspection before purchase. There is a great poten- 2. STRUCTURAL INTEGRITY With the high rate of building collapse in should take place.5. Existing Facilities tial for unwanted surprises when and adjoining amenities Lagos, it is important to ensure that the investing in such a variable and vast The value of the property to be purbuilding being invested in is solid and product. If well prepared, one can chased would be dependent on the type built with high quality, durable materials. anticipate these unpleasant surprises and state of the various facilities and and be in a better position to deal with Potential home owners of investors need amenities it has such as swimming to properly examine the building them. pools, high tech security equipment, Therefore, take a good look at the buildThis article will help inform property

Intelligent Real Estate

electrical and water supply, fittings and type of sanitary wares, adjoining land uses like schools, hospitals, restaurants, shopping malls, recreation centres, etc. What facilities does the house have? 6. Current Tenancy This is applicable if the property to be purchased has a previous occupier. If the house is occupied, you need to find out the nature of the tenancy, the tenancy schedule, the tenancy agreement, and how soon the existing tenants will vacate the premises after you make the purchase. It is very important to employ the services of a professional real estate consultant who would advise you on your investment and ensure that you get the best value for your investment. He/She would provide professional judgement on key aspects of the transactions saving you time and providing security and convenience.

REAL ESTATE TRIVIA Question. What famous American monument is also the world's heaviest statue? Answer. The Statue of Liberty, officially named "Liberty Enlightening the World", weighs 54.31 million pounds. Please send your questions or comments to iree2013@gmail.com.

THE GUARDIAN, Monday, June 17, 2013

TheGuardian

Monday, June 17, 2013

Conscience, Nurtured by Truth

By Akinwale Akindiya HAVE read with great interest the arguments IAdmission in the public space about the future of Joint Matriculation Board (JAMB). The issue at stake is a serious one as it affects and perhaps determines the future of millions of Nigerian youths and the country itself. The status quo right now is that a student writes an examination set by JAMB and if successful, writes another examination set by the university of choice. What this arrangement has achieved is placing an admission hurdle in front of candidates rather than an admission process. A simple argument is that if JAMB is so relevant, why do universities have to set their own examinations to determine who gets admission? The obvious answer is that JAMB is no longer needed in the admission process of tertiary institutions in Nigeria. One of the current trends globally is making processes simpler. Consultants earn millions yearly helping organisations become more nimble, take decisions faster, and respond to changes with more flexibility. That is the reason tall organisations are being collapsed into flat ones by eliminating excessive reporting lines and processes. Why is the admission process in Nigeria different? Why do parents have to pay JAMB and then the universities for the same cause? Why do students have to travel to write JAMB and then travel all over the country writing another examination? Imagine the risks to the lives of these candidates and the avoidable wastage of resources. My heart misses a bit every time I see an advertisement encouraging Nigerian students to go to Ghana universities as there is “no JAMB, no strike”. British universities spend millions on advertisements luring Nigerian candidates to interviews where they are promised admission “on the spot”. Basic requirement is five O’ Level credit passes. While other countries are simplifying the admission process, we are busy subjecting our youths to avoidable stress. The resultant economic effect of our students going abroad to study is capital flight leading to a deficit balance of payment: More Nigerian Naira chasing the Pounds and other currencies and yet we desire a strong local currency. A senior friend of mine wrote JAMB six times before gaining admission. He was lucky, others are not so fortunate. Many Nigerians whose sto-

Please send reactions and feedback for YOUTH SPEAK to:

editorial@risenetworks.org and 07067976667- SMS ONLY

Resolving the JAMB question ries could have been different have had to make do with an average life because they could not cross the JAMB /post-JAMB hurdle. If your family can afford it, you go to a private university or abroad. If not, you learn a trade or become a “ yahoo yahoo”. Frequent visits to internet cafes made me to realise that a great number of young boys who become internet fraudsters learn the skills after leaving secondary schools and are forced to stay at home after repeatedly being jammed by JAMB. An idle hand, they say, is an ideal workshop for the devil. That is why the people in authority need to do something urgently about the millions of youths currently roaming the street aimlessly before they get hooked in vices and crimes. By then, everybody will pay-both the governed and the policy makers. I know many advocates of JAMB will argue that there is a need to maintain high standards in our educational system. Raise the standards, so that only those who are fit will enter our tertiary institutions. If you are good, you should be able to pass JAMB and post-UME. While I believe in standards, I have always found that argument rather funny. A 100-Level student in a Nigerian University will study between six to 10 courses in a semester. Does this make him or her better than a student in a UK university who studied only three courses? The answer is no. The truth is that because of teaching methods, teaching aids, access to current research and modern facilities, the UK student will most likely be better. In developed countries, there are some

courses you don’t write examinations for, you simply make a presentation or participate in group discussions and the professor will grade you. If you try that in some universities in Nigeria, you will be told you are lowering standards whereas students learn better under such conditions. What we call admission standards are simply admission hurdles. Let us simplify the admission process and ensure that we leave no deserving candidate behind. As it is now, we have too many qualified youths outside the walls of our universities. The government must reach out to them. I know that there are many factors apart from the obvious ones that the government will consider in deciding the fate of JAMB. What about the billions JAMB rakes in every year? What will be the fate of JAMB’s assets all over the country? What will happen to the employees of JAMB nationwide if rendered jobless? These are valid considerations but the truth is that nothing is greater than the future of the Nigerian youth. Because the future of the youth is the future of the country. Imagine if President Goodluck Jonathan did not go to university? I doubt if he would have had the chance to lead Nigeria. The country should be making money off her natural resources and productive activities and not the Nigerian youth. The government should therefore spare the youth the burden of buying JAMB forms and scratch cards. Also, the employees of JAMB should be transferred to other ministries and agencies where their qualifications will be relevant. Those that have to be relieved of their jobs should take solace in the fact that they are paying the

price to give a better future to millions of Nigerian youths. As I have said before, the government should be careful of trading the future of the country for political considerations. JAMB should be stopped henceforth from setting entrance examinations in Nigeria. The universities should be empowered to set their own admission examinations while the National University Commission(NUC) should step up its supervisory role in setting and maintaining standards for the quality of the admission process in the universities. All the requirement a candidate needs to satisfy should be five credit passes in relevant O’Level subjects. A candidate should be free to apply to as many as five universities in a year. There is nothing wrong in a student having admission letters from five universities. He then sits down to decide which of the five will be most suitable for him. For once, let the power shift to the people. All said, it is obvious that the problem of the Nigerian educational system goes beyond the admission process. The capacity of the universities is not enough. Nigeria has fewer than 200 universities for a population of 150 million. But for private universities, the situation would have been catastrophic. The argument has been whether more universities should be opened or the admission capacity of existing universities enhanced. I think both would be the solution. Vote more funds for the existing ones and encourage the establishment of more private universities. In addition, I passionately believe a university should not just be a citadel of academic learning but a partner to the industrial growth of a nation. There should be a symbiotic relationship between the universities and the private sector. For example, the accounting department of a university can link up with an accounting firm. The firm funds the department as a corporate social responsibility and the department sends its best students to the firm. The pharmacy department of a university can be funded by a drug manufacturing company while the department undertakes research for the company. A university in Nigeria that I have seen adopting this model successfully is the University of Port Harcourt. Evidence of this is the Institute of Petroleum Studies, UNIPORT, which is a post graduate school of petroleum engineering funded by TOTAL. • Akindiya, ACA, CISA, is a chartered accountant and environmental consultant.

Plateau: The truth of it By Gyang T Dakwo N recent times, many woes have befallen our dear Plateau State. It is therefore easy to blame such misfortunes on our “perceived enemies” and believe that we are “victims of circumstances”. However, this can be accepted only if we do not consider the fact that the circumstances to which we attribute our woes remain the same, being: we are still part of the “Monolithic North” we are a heterogeneous people, mainly civil service, accommodating and peaceful, etc. Looking back at a not too distant past, we can see that Plateau was once a force to be reckoned with politically, economically and socially in Nigeria. In the Post-Independence years, Plateau was courted by all due to her “then enviable position of being the star of the Middle-Belt”. Everyone, Nigerians and foreigners alike relished the idea of having something to do with Plateau and so it continued to grow. At a point, if you did not own property in Plateau State you were not considered as being ‘savvy’. In the political arena, the middle belt politics which Plateau politicians championed was the zeitgeist. The economic landscape bloomed with indigenous and multi-national businesses/companies like NASCO, GBO, MDS, LEVENTIS, UTC, NBC, JIB, BARC FARMS and a host of others. With the return of democracy in 1999, Plateau had a formidable political structure that pointed towards a bright future. The active participation of its sons and daughters in politics made it a choice destination for conventions by progressive political parties. All that has now gone down the drain and it is as if it never happened. The decline was so sudden that nobody saw it coming. The same influential politicians turned beggars in Abuja and when the clime became too hot for them, they focused their attention home. But before they returned home, they made sure they pulled down every Plateau politician in Abuja. When they were through, they came home to destroy what was left of the political force. Gone now are the days when you were sure to meet a person from Plateau at the highest level in both the public and private sectors. This really tells a sad story of decline of a state that prides itself with having produced a Nigerian Head of State, deputy presidents of Senate, top military, police and para-military officers, ministers, bank executives, diplomats, academicians, top politicians etc. A state having the best potential in terms of tourism in the country, a state blessed by nature with fertile land, rich in minerals and a wonder-

ful weather. What else can a people ask for? All that is needed for us to do to restore our lost fortunes is a proper evaluation of who we are which brings us face to face with the grim reality of how we really are. However, it is worthy of note that this article is not in any way intended to cast aspersions on the Plateau people, but to highlight some of the factors militating against the development of Plateau, which will in turn stimulate the need for change. It is true that a sound economic base is the bedrock of any society. Unfortunately, the economic base of our dear state is nowhere near solid. Cheap politicking has been chosen as preferred investment by our elite to the development of relevant sectors of the economy. The political class now leaves nothing to show for the terms it serves in office yet join the line again to be voted into other offices. Few have any meaningful investments within or outside the state. A look at their “so-called investments” as against their opulent lifestyles will give you a true picture. Perhaps that explains their decline from politicians to political beggars within a short span. With the decline of the political class into self-impoverishment, the food of the common man is taken from him leaving him helpless and in a position where he can hardly get enough to meet his needs, let alone invest beyond petty trading and subsistence farming. It is as if we do not see the potentials that others see in our state.

In the face of this, we put undue pressure on the state government as recourse. How else can we explain Grand Cereals and Oil Mills, SWAN and JIB, BARC FARMS, PMC and Madara Limited to mention a few if our psyche has been fossilized on the government as the only source of livelihood? As a result of a weak economic base due partly to over-reliance on government, we are no more considered as significant foes or allies on the Nigerian political scene. This explains the dearth of political appointments at the federal level post-2007. For a state that voted overwhelmingly in favour of the ruling party, one ministerial position is not enough. The story would have been different only if we had politicians who could negotiate from a strong point at the national level, politicians with a mission and vision to uplift Plateau State. Instead we have politicians who are so good at sabotaging each other and cross-carpeting for personal reasons, politicians who see politics as a way of building their personal fortunes. I can recall that we had a better deal in the Second Republic even when we were not with the ruling party. Our politicians lack or simply and selfishly refuse to exercise the ingenuity of finding ways to move Plateau forward. Home of Peace… That aptly describes Plateau State, but of yesteryears. In today’s Plateau, people are first looked at as Ngas, Tarok, Berom, Mwaghavul, Irigwe, Afizere, Mupun etc. Your tribe determines how others relate to

The YOUTHSPEAK Column which is published daily is an initiative of THE GUARDIAN, and powered by RISE NETWORKS, Nigeria’s Leading Youth Development Centre, as a substantial advocacy platform available for ALL Nigerian Youth to engage Leadership at all levels, engage Society and contribute to National Discourse on diverse issues especially those that are peculiar to Nigeria. Regarding submission of articles, we welcome writers‘ contributions by way of well crafted, analytical and thought provoking opinion pieces that are concise, topical and non-defamatory! All articles (which are not expected to be more than 2000 words) should be sent to editorial@risenetworks.org To read the online Version of this same article plus past publications and to find out more about Youth Speak, please visit www.risenetworks.org/youthspeak and join the ongoing National Conversations’’. Also join our on-line conversation

RISE GROUP

@risenetworks

21676F3E

Published by Guardian Newspapers Limited, Rutam House, Isolo, Lagos Tel: 4489600, 2798269, 2798270, 07098147948, 07098147951 Fax: 4489712; Advert Hotlines: Lagos 7736351, Abuja 07098513445; Circulation Hotline: 01 4489656 All correspondence to Guardian Newspapers Limited, P.M.B. 1217, Oshodi, Lagos, Nigeria. E-mail letters@ngrguardiannews.com; www.ngrguardiannews.com

Editor: MARTINS

OLOJA

ABC (ISSN NO 0189-5125)

you. What is more worrisome is that this divisive behaviour is not only found among common people, but also among the political class and revered individuals like religious and traditional leaders who are supposed to be the apostles of unity. We have failed to see the problem of one Plateau man as being the problem of all Plateau people. We seem to go by the saying: “Every man for himself”. Individuals and groups take advantage of the security situation on the Plateau to score cheap political points, making injurious statements instead of helping to salvage the situation. It is on record that among states that have security problems it is only in Plateau State where elders have turned against their state government. In other state elders speak for the state irrespective of their political or ethnic differences. They know that if the state perishes, they perish with it. Here is a question. What is the hope of tomorrow’s Plateau? Not much, going by the realities of the situation. Our youth who are supposed to be our hope for a brighter future seem to be toeing the line of their predecessors in disunity. Different youth organisations have evolved into mini acrimonious political groups as opposed to being platforms for integration and development. The youth have so patronised the political class that they willingly do whatever these politicians ask of them, whether legal or illegal. In fairness to the youth though, this is fallout of the greed of our leaders who starve the people of the dividends of democracy. The way out: Unless the Plateau people begin to see themselves as brothers, things will definitely stay the way they are. We should learn to forge a common ground with our leaders as the fulcrum, try to understand the motives behind their statements and actions instead of showing them disdain and disobeying them. Our leaders on their part must show themselves to be responsible, uniting forces and trustworthy. We should learn from the past generation of Plateau men and women who had nothing but love for one another which enabled them leave the legacies we are enjoying today. Plateau belongs to all and not a select few and so we should all work towards making it the egalitarian society it is meant to be, where everyone has a chance. It goes without saying that unless we adopt a different attitude, we will unwittingly be acting the “divide and rule” script of our “common enemies”. • Dakwo is of Abuja Broadcasting Corporation, Abuja.