Mon 18 Mar 2013 The Guardian Nigeria.

TheGuardian Conscience, Nurtured by Truth

Monday, March 18, 2013

Vol. 29, No. 12,499

www.ngrguardiannews.com

N150

Reverse Alamieyeseigha’s pardon, CWI, Catholics, others tell Jonathan • Presidency’s defence provocative, say lawyers From Alemma-Ozioruva Aliu (Benin City), Terhemba Daka (Abuja), Joseph Wantu (Makurdi), Bertram Nwannekanma, Adeniyi Adunola and Isaac Taiwo (Lagos) UMING at what they conF sider a mockery of the nation’s anti-corruption

campaign, groups and the nation’s leaders have urged President Goodluck Jonathan to reverse the state pardon the Federal Government granted former Bayelsa State Governor Diepreye Alamieyeseigha.

The Christian Welfare Initiative (CWI), an arm of the Christian Association of Nigeria (CAN), wondered why such a pardon should be granted someone who was convicted by a London court for corruption and financial embezzlement.

In a statement in Lagos, the National President of CWI, Archbishop Magnus AdeyePope Francis 1 (right) kissing a cross during his arrival for mass at Santa Anna Church at the Vatican… yesterday.

PHOTO: AFP/OSSERVATORE ROMANO

Bayelsa, six other states fail DMO’s solvency test From Mathias Okwe, Assistant Business Editor, Abuja ELATIVE to their respective R profiles of Internally-Generated Revenue (IGR), oil-rich Bayelsa and six other states in the country have failed the domestic debt sustainability analysis undertaken by the Debt Management Office (DMO).

According to the report, which the DMO board, headed by Vice President Namadi Sambo met on Tuesday to consider, the seven states’ domestic indebtedness relative to their IGR positions ranks

high beyond the recommended international threshold of between 92 per cent and 167 per cent.

Indeed, the affected states, according to the report on Pages 26 and 27, are presented in pink colour signifying the danger level of their indebtedness. Those next to this endangered category are stated in yellow while states whose positions are healthy are presented in green colour.

Bayelsa led the heavily indebted states with a score of 1,712 per cent insolvency.

The state has a domestic debt stock of N162.82 billion as at

TABLES ON PAGES 54 & 55 the end of December 2011, while its IGR was put at N9.510 billion.

It was followed by Cross River State, which by end of 2011 had

a domestic debt stock of N90.750 billion, relative to its IGR size of N16.553 billion.

The debt management agency said the state’s indebtedness ratio is 548 per cent far above the recommended threshold.

The third in this category was Zamfara State, which scored 497 per cent, representing its total domestic debt of N12.968 billion relative to its N2.611 billion IGR.

Ebonyi State was next in line with a score of 272 per cent, representing her domestic debt stock of N40.239 billion relative to her IGR of N14.778 billion.

Oil-rich Delta State came fifth with a rating of 263 per cent as the state’s domestic debt stock then was N90.843 billion, while its IGR stood at N34.601 billion.

Adamawa State followed with

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Fresh troubles trail council polls nationwide

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PDP reconciles members in S’South, S’West From Kelvin Ebiri (Port-Harcourt) and Iyabo Lawal, (Ibadan) PPARENTLY prompted by A the need to maintain its status as the nation’s ruling

party, the Peoples Democratic Party (PDP) has begun reconciliation with some aggrieved members of the party.

The party held a South-South zonal executive committee meeting in Port Harcourt, Rivers State, while the National Chairman of the party, Alhaji Bamanga Tukur, held a similar peace parley with the South-West zone last Friday.

The South-South leaders meeting was attended by Chairman Peoples Democratic Party (PDP) Governors’ Forum, Governor Godswill Akpabio of Akwa Ibom State, his Rivers and Delta States counterparts, Chibuike Amaechi and Emmanuel Uduaghan, Tukur, Senate Leader

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THE GUARDIAN, Monday, March 18, 2013

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Bayelsa, six other states fail DMO’s solvency test CONTINUED FROM PAGE 1 a rating of 217 per cent, with a debt stock of N25.954 billion, while its IGR stood at N11.948 billion.

Kogi State was seventh on the league with a solvency score of 207 per cent score, representing its indebtedness of N34.122 billion in relation to its IGR of N16.500 billion.

The Federal Capital Territory (FCT) too was presented in the same pink colour among the seven risky states, though its debt figure was not presented on the table.

The DMO offered explanation on the solvency exercise relative to IGR: “Given the fact that sustainability or otherwise of domestic debts are by best practice to be measured against the own revenue of the borrower, an analysis of

the domestic debts of the states to their IGR was also undertaken.

“For this, the Debt Relief International (DRI) solvency threshold of 92 per cent to 167 per cent is applied. The result as shown in the table below outlines the need for the sub-national governments to grow their IGRs to reduce excessive pressure on their statutory allocations in the running of their governments and free up resources for other developmental projects.”

Six other states presented in yellow, signifying warning alert as they are close to attaining the solvency bar, are Edo, Akwa Ibom, Kwara, Ondo, Plateau and Taraba.

The remaining states presented in green all scored below the recommended solvency ratio of 92 per cent.

PDP begins reconciliation in S’South, S’West CONTINUED FROM PAGE 1 Victor Ndoma-Egba and hundreds of party stalwarts in the zone.

Addressing the party faithful, Tukur acknowledged that the disagreements among members of the party were not without solutions. He assured that the party would reconcile its differences and win the forthcoming general elections.

He insisted that there would be no more imposition of candidates on the party and that every member ranging from the president to the least person would be entitled to only one vote.

According to him, the essence of this is to entrench internal democracy and levelplaying field for all.

Also speaking at the meeting, Akpabio said irrespective of the recent mergers of some opposition parties, President Goodluck Jonathan will be reelected in 2015.

He said all the party needed

was total cohesion and reconciliation of willing aggrieved members to take over the 36 states and 774 local councils of the country by 2015.

Akpabio said since the formation of the PDP Governors’ Forum, the opposition parties had been in disarray and confused over which name to adopt.

Though he reiterated that no PDP governor would defect to any opposition party, he however advocated the empowerment of party supporters and the need to ensure party cohesion.

Akpabio explained that President Jonathan was equal to the task of winning the 2015 election and the PDP taking full control of the 36 states in the country. He enjoined governors in the South-South to close ranks and support the President to realise his second term ambition. He said his support for the President does not border on syco-

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Executive Director, Guardian Newspapers Limited (GNL), Toke Alex-Ibru (right); representative of Lagos State governor/Permanent Secretary, Lagos State Ministry of Energy and Mineral Resources, Regina Iyabode Obasa; Publisher/Editor-in-Chief, Nigeria Oil Gas Intelligence, Remi Aiyela and Director, Petroleum Resources, Osten Olorunsola, during the official launch of Nigeria Oil Gas Intelligence Publications in Lagos… recently.

PHOTO: FEMI ADEBESIN-KUTI

Outrage at pardon for Alamieyeseigha persists CONTINUED FROM PAGE 1 mi Atilade, described the whole act as being based on tribalism, nepotism and lack of fear of God, and a negation of Jonathan’s perceived war against corruption.

Atilade pointed out that the pardon granted to all the former military officers, including Lt.-Gen. Oladipo Diya (rtd) could be acceptable to the generality of Nigerians on the grounds that the alleged coup for which they were convicted was questionable. But they said that the pardon for Alamieyeseigha could not be justified for any reason because of the large amount of money involved.

According to CWI, Jonathan is indirectly endorsing corruption by this singular pardon of an ex-convict. The Christian body said if Alamieyeseigha deserved a pardon, all the gates of the nation’s prison yards should as well be flung open for the inmates, both convicted and awaiting trial for presidential pardon because their offences were not as heavy as those of Alamieyeseigha who embezzled his state’s money.

CWI recalled that Jonathan was Alamieyeseigha’s deputy when the former governor committed the offence for which he was convicted.

“It is therefore a height of nepotism and tribalism for the same Jonathan to turn round and grant pardon to his former boss. And this is not acceptable to Nigerians; he should rescind the pardon immediately because he is laying a gangrenous precedent for other future leaders.

“Whether Jonathan knows the implication of what he did

or not, it should be pointed out to him that the said pardon is a big dent on his government, and the honorable thing to do is to rescind the pardon for Alamieyeseigha now”, the CWI added.

The Justice Development and Peace Commission (JDPC) (a non-governmental, non-partisan organisation and the main social-development arm of the Catholic Church) condemned the pardon.

Addressing journalists at the weekend on the state of the nation to mark JDPC Week at JDPC Secretariat, Sabo-Yaba, Lagos, the Executive Director of the Group, Rev. Fr. Emmanuel Fadele, lamented the position of Nigeria as 135th out of 176 corrupt countries in the world according to the Global Corruption Perception Index.

“According to Human Rights Watch, Nigeria lost $38b to corruption between 1999 and 2007; in 2010, the civil servants pocketed N450 billion in the present administration alone while about N5 trillion could not be accounted for.

They loot mindlessly and mercilessly.

“Nigeria has organs like the EFCC, Code of Conduct Bureau (CCB) and Independent Corrupt Practices and other related offences Commission (ICPC) charged with the responsibility of sniffing out corrupt people and dealing with them accordingly, but they work discordantly, pursuing ephemeral small thieves like Internet scammers, cash couriers, pipeline vandals, among others…

“The current EFCC website ‘celebrates’ successful conviction of a beggarly 19 out of 300 cases and none of these 19 is a high-profile criminal. Two

brothers, Ikechukwu and Avoaja, received 91 years jail term for sealing N21 million while John Yusufu, who admitted stealing N23.3 billion, was sentenced to two years or option of fine of N750,000,” the group said.

It recommended that to seriously fight corruption, antigraft agencies should have defined functions and should be independent, fearless, impersonal, transparent above board and be focused.

Also, a member of the House of Representatives and Deputy Chairman of the Committee on Millennium Development Goals (MDGs), Bimbo Daramola, said that the pardon was not well- thought out.

But the senator representing Edo South Senatorial District, Ehigie Uzamere, at the weekend said that the Senate would further encourage Jonathan to grant pardon to Nigerians who may have unjustly incurred the wrath of past governments in the country for political reasons.

He said the United States (U.S.) was ignorant of what led to the travails of Alamieyeseigha when it condemned the pardon granted to him by Jonathan.

Uzamere spoke to journalists in Okada when the chairmanship candidate of the Action Congress of Nigeria in Ovia North East, Mrs. Lucy Omagbon. started her campaign.

The Chairman of the Ikeja Branch of the Nigerian Bar Association (NBA), Monday Ubani, yesterday condemned the pardon as provocative.

Ubani, who was reacting to the comment by presidential spokesperson, Dr. Doyin Okupe on the state pardon,

said the anti-corruption fight of the Federal Government was clearly in trouble.

He said: “So far, the explanations from the government aides are not only watery, but also provocative. The explanation of people like Dr. Doyin Okupe tells you that Nigeria is in serious trouble.

“He presented President Jonathan as an unrepentant monarch whose various infractions cannot be questioned by his subjects. Dr Okupe needs to be educated that Nigeria is in democracy and her rulers need to exercise their powers in the interest of the nation”, he added.

In a similar manner, Lagosbased human rights lawyer, Ebun-Olu Adegboruwa, who was perturbed by the state pardon, said although the power given to the President to grant pardon does not specify the categories of crime that may or may not merit state pardon, such pardon should not have come from a President that is concerned with the fight against corruption.

According to him, it is for the person exercising the power to work out the modalities or set out conditions under which the power will be exercised.

On his part, retired Commissioner of Police, Lagos State, Dr. Abubakar Tsav, has said the state pardon was a mere charade to favour Jonathan’s former master thus encouraging corruption in the country.

Tsav, who made the condemnation in an interview with The Guardian in Makurdi at the weekend, stated that himself like many other Nigerians had continued to be disappointed in Jonathan’s unpopular policies and decisions.

He maintained that the inclusion of the names of Lt.Gen. Oladipo Diya and Maj.-Gen. Abdulkareem Adisa, among others on the list, was meant to deceive Nigerians and justify his nepotism, noting too that Diya and Adisa were already granted state pardon by Gen. Abdulsalami Abubakar in 1999.

Tsav questioned why Jonathan did not include AlMustapha’s name on the pardon list.

THE GUARDIAN, Monday, March 18, 2013

NEWS 5

ACN alleges threat to democracy by PDP From John Akubo, Dutse HE Action Congress of T Nigeria (ACN) has alleged threat to the nation’s democ-

Bishop of Ijebu South West Diocese of the Anglican Communion, Rt. Rev. Babatunde Ogunbanwo (left); former Chairman, Publication Committee of the Archbishop Vining Memorial Church Cathedral (AVMCC, lagos, Prince Henry Odukomaiya; his wife Lydia and Chairman of the occasion, Prof. Wale Omole at a thanksgiving session in honour of Odukomaiya who retires from the AVMCC publication Committee in Lagos… yesterday PHOTO: WOLE OYEBADE

racy by what it described as desperation of the ruling Peoples Democratic Party (PDP) to retain power at all cost, “judging by the party’s glaring involvement in the ongoing efforts to sabotage the merger of the progressives.”

But the senator representing Jigawa North-East, Alhaji Abdulaziz Usman, said the PDP is too strong to be intimidated by merger of some political parties to the extent that it has to engage in nocturnal moves to scuttle its registration.

In a statement issued in Lagos yesterday by its National Publicity Secretary, Alhaji Lai Mohammed, ACN called on all lovers of democ-

Editors laud, task Amaechi on governance

Oyo ACN, PDP, AP bicker over govt programmes

HE Nigeria Guild of Editors T (NGE) has urged Rivers State Governor, Chibuike Amaechi

From Iyabo Lawal, Ibadan

not to stop fighting for the people, promising to stand by him for identifying with the masses.

Speaking during a courtesy visit to Governor Amaechi in Port Harcourt at the weekend, the newly elected President of the Guild of Editors, Mr. Femi Adesina, who led the delegation of the new Guild executive committee, assured Amaechi that Nigerian editors would continue to support him for fighting the cause of the masses.

According to a statement, Adesina told the governor that “we have monitored your progress and we have seen that you have changed the face of the landscape, particularly in Rivers State. You have touched the lives of the people and we, as Editors, will gladly partner with and support anybody that stands for and with the people.

“The needs of the people are not really much. They want good health care, a health care system that works, they want security, they want shelter, they want good roads, they want power, they want jobs and if you can provide most of that, then you become their hero. We have seen that your government is doing all that and more for the people, so we are glad to be here today and we pledge that as long as you stand for the people and with the people, the Nigerian editors will also stand by you and with you.”

HE three major parties in T Oyo State are at daggers drawn over programmes of

ICPC explains interrogation of journalist

NEW research has revealed that ‘functional cure’ for Human Immuno-deficiency Virus (HIV)/Acquired Immune Deficiency Syndrome (AIDS) can be achieved for some patients diagnosed early.

Meanwhile, another research has found that a component of bee venom packaged in supertiny blobs can knock out HIV. Treating people with HIV rapidly after they have become infected with the virus that causes AIDS may be enough to achieve a ‘functional cure’ in a small proportion of patients, according to the research published in PLoS Pathogens.

According to the report of the research culled from DailMailOnline, the treatment, for now, is only effective in about one in ten people diagnosed early, but most people who are infected with HIV do

From Abosede Musari, Abuja HE Independent Corrupt T Practices and other Related Offences Commission (ICPC) has said the interrogation of a journalist, Tom Chiahemen over some media advert contracts of the Ministry of Education, was neither an attempt to curtail his freedom nor a lash back at former minister, Oby Ezekwesili, as the case has been in court for almost three years.

The ICPC, in a statement issued yesterday in Abuja, said it cannot be used to curtail citizens’ freedom nor hound perceived political opponents.

the ruling party, the Action Congress of Nigeria, which has degenerated into claims and counter claims over source of funding for the state mass transit scheme and accusation of non-performance on urban renewal policy.

This has forced the Oyo State Chapter of the ACN to clear the air on the source of funding for the 100 Ajumose buses.

In a release issued by its Publicity Secretary, Dauda Kolawole, the ACN said the 100 buses were not a dash from the Federal Government but a scheme, which the state government and the 33 local governments are paying for.

Also, former Governor Rashidi Ladoja and National Leader of Accord Party (AP) at the weekend came down hard on the ACN government over its Urban Renewal Project, describing it as not masses’ driven.

These claims and counter claims were coming on the heels of Governor Abiola Ajimobi’s admonition to members of ACN and other political associates not to dissipate their energy on his sec-

• Ajimobi urges supporters to stop second term campaign ond term bid, maintaining that it would be determined

by God and the people of the state.

Speaking on PDP claim on the mass transit buses, the ACN said, “The PDP will not cease from unleashing its illiteracy and mischief on the generality of our people. If it were not so, it would have been better informed that the Federal Government-assisted scheme, as the name connotes, is a mere assistance from the Federal Government and it does not belong to it. Rather, the buses were purchased by our local governments with their money and the Federal Government merely guaranteed the loan.”

The party said that the buses were purchased under a loan scheme, which involve the state, the local government and the Urban Development Bank and not a dash from the Federal Government.

“We actually understand their frustration. All their faithful who defaulted in repayment of the loans are hurting from the collection of the vehicles from them.

The Ajimobi government had to pick up the liability of the unpaid loan defaults, which

denied the genuine Oyo State people from benefiting from the scheme. So if the money used in purchasing the vehicles belonged to the Oyo State government, it is at liberty to name the buses whatever it desires,” said the ACN. Ladoja, who reminded that only people-centred policies could check insecurity and poverty in the country maintained that any non-masses driven policy would not only be counter-productive, it would fail to have the desired developmental impacts.

Ladoja spoke while receiving defectors from the ACN and Peoples Democratic Party (PDP) in Ona-Ara Local Government Council area of the state.

The Accord leader recalled that the urban renewal policy programme of the current administration was not novel as it had been successful in the past when it was people-focused in its formulation and implementation.

“The good people of Oyo State must not suffer to get what is their rightful due. The Urban Renewal Development can be obtained without the present associated problems, which our people are going through.

The Urban Renewal

Programmes had been effective in the past. A true Awoist in person of Chief Bola Ige completed New Gbagi Market before he moved the traders from the old Gbagi”, he noted.

Ajimobi advised his supporters while declaring open a one-day retreat for political office holders and community leaders in all the 33 local government councils in the state, that his coming back into office after his first term would also be a function of his achievements in office.

He said that his focus at present was how to make the best of his first term in office for the benefit of the people, urging political office holders to concentrate more on spreading dividends of democracy to all the nooks and crannies of the state.

Ajimobi said that the landmark achievements of the governments of all the ACNled states would give them an edge over other political parties to rule for more years and spread to other parts of the country.

While speaking on the urban renewal programme of his administration, he said that the programme was aimed at securing better future for the coming generation in terms of a well-planned and serene environment.

racy within and outside Nigeria to join in the efforts to ensure that the nation’s democracy is not truncated.

ACN said PDP, realising that its time is up, has now resorted to a dangerous game aimed at either keeping the party in power at all costs or crashing the country’s democracy. This is a dangerous game that must be stopped, with the good people of Nigeria, not just the progressives, leading the charge,’’ it said.

ACN described the events of the past few weeks, during which, according to the party, some elements made efforts to scuttle the registration of the All Progressives’ Congress (APC), as a throwback to 1993, “when the then military junta supported the so-called Association for Better Nigeria (ABN) to scuttle that year’s presidential elections.”

The party recalled that “the dirty game started by the ABN snowballed into a series of cataclysmic events that culminated in the annulment of what is still widely regarded as the best elections in the country, as well as the ascension into office of a man regarded as the most brutal dictator in the country’s history.

ACN assures that no amount of underhand tactics will stop the merger of the progressives, “who are even stronger now as they have received an overwhelming support and encouragement of Nigerians in the wake of the registration gate.”

The PDP senator spoke against the backdrop of INEC’s confirmation of receipt of an application from a political association, African People’s Congress (APC) for registration as a political party to contest the 2015 general elections.

The All Progressives Congress is yet to apply to the electoral umpire for registration.

Usman said: “PDP is strong enough to withstand any form of aggression from whatever political party and can not be fingered to be instrumental to whatever confusion they are having at the moment.

“The PDP is not afraid of the merger. Those fingering the party to being the mastermind of the confusion rocking the yet to be registered APC are themselves not sincere.”

14 adults ‘functionally cured’ of HIV, study reveals Chukwuma Muanya, with agency reports

A

• Bee venom may offer protection

not learn of their infection until the virus has fully taken hold.

Scientists in France followed 14 patients who were treated within ten weeks of becoming infected with the virus. They received treatment for three years before stopping taking the medication.

The scientists found that even when the patients had been off therapy for more than seven years, they still showed no signs of the virus bouncing back – normally the virus rebounds if treatment is stopped.

The research, published in the journal PLoS Pathogens, follows news earlier this month about a baby girl in Mississippi, United States (U.S.), being effectively cured of the HIV after receiving very early treatment.

Christine Rouzioux, a professor at Necker Hospital and University Paris Descartes, and

a member of the initial team, which identified HIV 30 years ago, said the new results showed that the number of infected cells circulating in the blood of these patients, known as ‘post-treatment controllers’, kept falling even without treatment.

“Early treatment in these patients may have limited the establishment of viral reservoirs, the extent of viral mutations, and preserved immune responses. A combination of those may contribute to control infection in post-treatment controllers,” she said.

“The shrinking of viral reservoirs ... closely matches the definition of ‘functional’ cure,” she added.

A functional cure describes when the virus is reduced to such low level that it is kept at bay even without continuing treatment. The virus, however,

is still detectable in the body.

Researchers testing the delivery system in lab dishes, in a report published in Antiviral Therapy, noted that these nanoparticles attach to and destroy the virus without damaging cells, offering an early glimpse of a technology that might -with a lot more testing prevent HIV infection in some people.

“This is definitely a novel approach,” says Antony Gomes, a physiologist at the University of Calcutta in India, who studies the medical use of venoms.

“There are very few reports available on venom-based treatment against viruses. This type of research has the potential to proceed further for product development.”

Physician-researcher Joshua Hood of Washington University in St. Louis and his colleagues tested the toxin-carrying nanoparticles on HIV in the lab. The particles preferen-

tially locked onto HIV and delivered their cargo: The venom component, a toxin called melittin, poked holes in HIV’s protective protein coat, leading to sharply reduced amounts of virus, the researchers report in the current issue of Antiviral Therapy.

They also tested it in healthy human cells obtained from vaginal walls. Although melittin is known to degrade cell membranes, these vaginal cells were largely unperturbed by the treatment because the nanoparticles holding the melittin come equipped with protective structures attached on their outsides. These act as bumpers to prevent the nanoparticles - and particularly the toxin they carry - from contacting the cell membrane.

That allows the nanoparticle to bind to the much smaller virus using a specific lock-and-key structure that fits onto the virus’s protein shell.

THE GUARDIAN, Monday, March 18, 2013

6 NEWS

APGA chief sues Menakaya

PDP begins reconciliation in S’South, S’West CONTINUED FROM PAGE 4 phancy but on the fact that Jonathan hails from the South-South.

He added: “There is always the hand of God in leadership. You cannot be a good leader if you cannot be a good follower...the South-South must come together to support their own son”, he said.

Governor Uduaghan, who spoke on behalf of governors of the zone, assured the national chairman that his colleagues would continue to ensure that the zone remained the stronghold of the PDP. But he cautioned that the party must make concerted efforts to resolve all the issues threatening its unity.

The Speaker of the Rivers State House of Assembly, who spoke on behalf of his colleagues in the zone, tasked the national chairman to wade into the crisis bedevilling the state PDP executive council. He warned that except the national chairman intervened, the PDP risked losing the next local council election in the state.

In the same vein, immediate

past Senate Leader, Teslim Folarin, has described Tukur’s visit to the zone for a meeting with stakeholders as the necessary catalyst to send the Action Congress of Nigeria (ACN) packing from the zone in 2015.

Tukur had led other members of the National Working Committee (NWC) to the one-day meeting in Ibadan, where stalwarts of the party from the zone gathered to meet him.

Reacting to the meeting, Folarin who was among the party dignitaries from Oyo State at the meeting told reporters in Ibadan that the parley afforded the various groups within the party to table their grievances.

The former Senate Leader noted that Tukur had through the visit and his manner of approach rekindled everybody’s hope in the party, stressing that “the approach was soothing to everybody and we all left the venue of the meeting more than convinced that we will be disappointing the amiable national chairman if we fail to work in unity.

From Adamu Abuh, Abuja HE crises rocking the All T Progressive Grand Alliance (APGA) deepened at the week-

Oyo State Commissioner of Police (CP), Mohammed Indabawa (left) and Chief Consultant, Supreme Management and Consultancy Services, Yinka Fasuyi, during the visit of the CP to the Consultant in Ibadan… at the weekend.

PHOTO: NAJEEM RAHEEM

end following renewed moves to stop the former Minister of Health, Dr. Tim Menakaya, from parading himself as a member of the Board of Trustees (BoT) of the party.

This came to the fore following a suit instituted at the Zamfara State High Court by the state’s APGA Chairman, Malam Bello Usman, asking the court to stop Menakaya from parading himself as a member of the BoT. The Chief Judge of Zamfara State, Justice Kulu Aliyu, had after listening to Usman’s counsel, Pwahomdi L. M., granted leave to the plaintiff to serve the court’s processes on Menakaya and the party in Abuja cited as the 1st and 2nd defendants in the suit.

The court also granted an order that Menakaya be served through substituted means by pasting the originating summons and other court processes on the walls of his residence in Abuja.

Fresh troubles trail council polls nationwide From Saxone Akhaine (Northern Bureau Chief), Adamu Abuh, Azimazi Momoh Jimoh, Terhemba Daka (Abuja), Alemma-Ozioruva Aliu (Benin City) ONTROVERSIES are still C trailing local council elections to be held or that have

just taken place across the country.

They include an Area Council election held at the weekend in the Federal Capital Territory (FCT), Abuja as well as that coming up next month in Edo State and elsewhere.

Although adjudged peaceful, security agents on Saturday arrested 13 persons suspected to be disgruntled elements in the Abaji Area Council of the FCT. It was not clear which political party they belonged to, but it was gathered yesterday that the suspects were in possession of dangerous weapons including charms.

However, the Peoples Democratic Party (PDP) floored the opposition political groupings, clinching five of the six chairmanship seats and majority votes in the councillorship polls.

Preparations for the local government election in Kogi State slated for May 4 got underway at the weekend with the councillorship primaries of the ruling PDP held across the 21 councils. The primaries however turned violent in some councils as factions which disagreed on the modalities for the conduct of the elections clashed. It was a free for all in Yagba West Council as aggrieved members opted to settle scores with machetes and other dangerous weapons. No fewer than 20 persons were injured, with the party chairman, Mr. Ayo Alabi allegedly hospitalized as a result of a matchet cut. No fewer than 22 persons were said to have been arrested, including a former Liaison Officer 1 for Yagba West Council. His arrest alongside his elder brother was reportedly ordered by the Police Commissioner, Mr Frank Opara while 21 others were picked up.

In Odo-Eri, the state Commissioner for Agriculture, Dr Olufemi Bolarin, was said to have escaped unhurt, after he was ambushed by factional

youths. It took several gunshots fired by his police orderly to gain passage. A former Attorney General and Commissioner for Justice in the state, Mrs Justina Abanida, also ambushed, had the screen of her Hilux van smashed.

And ahead of the April 20, 2013 local government council election, Edo south chapter of the Action Congress of Nigeria (ACN) over the weekend kicked off its campaign for the election where the party said it was sure its candidates would win in the Bini speaking area of the state.

Besides, the Benin monarch, Omo N’obaErediauwa, urged candidates to go about their campaigns peacefully to sustain the prevailing peace in the state.

At the palace when the candidate for Oredo council, Osaro Obazee, visited him, the king who spoke through the Esogban of Benin Kingdom, Chief David Edebiri, while praying the ancestors for continuous peace, urged the candidates to base their campaigns on issues and eschew violence and mudslinging.

At the Oredo council rally, the deputy governor, Pius Odubu charged the people of the area to repeat the support they gave to his boss, Adams Oshiomhole, in the July 14, 2012 election.

In Okada, Ovia North East, the Senator representing Edo South senatorial district, Ehigie Uzamere, urged ACN members to vote massively for the party to replicate the developmental success of Governor Oshiomhole at the grassroots.

Also, a chieftain of the ACN in the area, Elder Sunny Uyigue, cautioned members to be vigilant, alleging plans by some aggrieved members to vote against the party in favour of the PDP, particularly in Ovia North East.

A Federal High Court sitting in Ibadan will today begin hearing in a suit filed jointly by the PDP and Accord Party (AP), challenging Oyo State Governor Abiola Ajimobi over council polls.

They have two representatives each, Hon, Alaba Adelabu and Adetomiwa Adetunji Olurotimi (PDP) as well as Pastor David Ayodele Eleko, and

• Party chairman, others injured • Commissioner survives ambush • Ex-LG boss, brother arrested • Opposition goes to court in Oyo • PDP clears FCT elections Oludele Asamu (AP). The plaintiffs, in the originating summons filed before Justice Abimbola Obaseki- Adejumo described the failure of the governor to conduct elections at the grassroots level as a “ declaration of war or secession against the Federal Republic of Nigeria”.

In the FCT polls, the All Nigeria People’s Party (ANPP) retained one seat, leaving the Action Congress of Nigeria (ACN) and Congress for Progressive Change (CPC) with no seats in the chairmanship race.

The election results at a glance: Abaji: ACN=8,101, ANPP=67, CPP=15, PDP=8,933, PPA=15, SDMP=6.

AMAC: AA=22, ACN=2,527, ANPP=1,208, APGA=183, CPC=7,055, CPP=85, LP=99, PDP=16,841, UPP=1,013 SDMP=14, PPA=60.

Bwari: AA=17, ACN=643, ANPP=1,086, CPC=8,051, CPP=92, LP=0, PDP=9,881, SDMP=19, PPA=33.

GWAGWALADA: AA=0, ACN=470, ANPP=11,596, CPC=2,284, CPP=0, LP=0, PDP=11,502, SDMP=80.

Kuje: ACN=58, ANPP=5,994, APGA=38, CPC=285, PDP=16,800, SDMP=7, PPA=37 Kwali: Musa Sikirath=37, Hon. Joseph Shazin=7,538, Emmanuel Bamigbaye=27, Zubairu Jibrin=1,472, Titus Shigaba. S= 37, Daniel Ibrahim (PDP)=12,809, Okechukwu Onaga=31.

Members of the election working group of the Nigerian Bar Association, FCT chapter, at the weekend expressed concern over the poor voters turnout.

Chairman of the of the group, Mr Dafe Akpedeye, a Senior Advocate of Nigeria (SAN), who addressed reporters cited Rachel eye clinic by Gimbiya Street where a polling unit had 2419 registered voters but only 29 were accredited and voted.

“In Garki II, NNPC Main gate polling unit had 658 registered persons on the voter’s list. As at 3pm no voter had turned up for accreditation even though the INEC officials, voting materials and security agents were present,” he remarked.

Nevertheless, the group acknowledged that the election whereby a total of 914,358 voters were registered to vote in the six area councils of the FCT in all the 639 polling units in the FCT was generally peaceful, free and fair.

Although, officials of domestic polls observers under the umbrella of Independent Election Monitoring Group (IEMG) said that the exercise was free and fair, they appealed to all the political parties to engage the services of civil society organizations and Independent National Electoral Commission (INEC) for the training of their party agents following the lapses observed.

The IEMG officials stated that the training of all party agents and other personnel engaged in election matters by civil groups and INEC would give credibility to the handling of future elections in the country.

The National Coordinator of IEMG, Mr. Festus Okoye, in a report on the FCT polls said that during the election, “most party agents just hung around the polling units without a proper appreciation of electoral rules and regulations and are therefore unable to assist the party in mandate protection”.

“Some of the presiding officers could not carry out proper set up of the polling units and this made it difficult for the voters to thump print their votes in an atmosphere of secrecy as guaranteed by the Electoral Act.” FCT Minister Bala Mohammed commended the electorate, FCT residents, INEC and all Nigerians over the peaceful conduct of the polls.

Reviewing the election on

Sunday, the Minister who fielded questions from reporters in Abuja also hailed security agents as well as traditional and religious leaders.

The PDP has described the existence of opposition parties in Nigeria as unreal and a mere media show.

In an immediate reaction to its victory at the FCT elections, it said it remained “the preeminent party despite the much orchestrated merger by opposition parties.”

PDP National Publicity Secretary, Mr. Olisa Metuh, in a statement, said the failure of the opposition in the FCT, which population is made up of Nigerians from all the geopolitical zones, was a demonstration of the fate that would befall them in 2015.

In Ibadan, the judge gave today’s date for hearing sequel to the summons filed by the plaintiffs’ lawyer, Yomi Oguntola seeking the court to determine the following issues: • “Whether having regard to the provisions of Section 1(2) of the 1999 constitution, the appointment of Caretaker Committees in place of democratically elected officers at the Local Government does not amount to “taking control” of the government at the grassroot level; • “Whether having regard to the provisions of Sections 7(1), 6(a) and (b) of the 1999 constitution, the release of statutory allocation (intended for democratically elected local government councils) to Caretaker Committees is lawful and constitutional; • “Whether having regard to the provisions of sections 7 (1), 196,197, and 198 of the constitution, and taking into account the provisions of the Oyo State Local Government Law, the governor, the Speaker and the entire Oyo State House of Assembly can constitute and appoint Caretaker Committees in place of democratically elected local government councils in the administration of the 33 local government areas in the state.”

Joined in the suit with Ajimobi are the President Goodluck Jonathan, Minister of Finance, The Accountant General of the Federation, the Attorney General of the Federation, Oyo State House of Assembly and

its Speaker, the government of Oyo State and the Attorney General of the State.

In a 23-paragraph affidavit in support of the originating summons and sworn to by one of the plaintiffs, Pastor Eleko, they alleged that since Ajimobi was sworn in on May 29, 2011, he had taken control of the government at the grassroots in a manner that is inconsistent with the provisions of Section 7(1 of the constitution).

Eleko averred further: “Beginning from August 2011, the governor and the State government, purportedly acting under the Local Government Laws of Oyo State and further aided by resolutions of the Speaker and the House of Assembly, have in gross violation of the provisions of the constitution, unlawfully taken control of the local governments administration by illegally constituting, appointing, and extending the tenure of Caretaker Committees in place of democratically elected as prescribed in the constitution; “In November 2012, when all the political parties had, sequel to assurances made by the governor to conduct local government elections, made adequate preparations for the said elections but the governor reneged. Assisted by the resolution of the House of Assembly, he continued his illegal control of the government at the third tier by further extending for six months the tenure of the illegal caretaker committee; “This illegal management of the local government has led to a situation where statutory allocation of funds from the federal government to these local government has been misappropriated while the people have been denied the right to participate in the choice of who leads them.”

According to him, the people have lost faith in government and participatory democracy, having been rendered helpless, discouraged and left to grope in the dark for answers.

Justice Obaseki- Adejumo on February 8, 2013 ordered the plaintiffs to serve the defendants through substituted service while she also fixed March 18, 2013 for commencement of hearing.

THE GUARDIAN, Monday, March 18, 2013

NEWS

Anambra threatens to demolish illegal structures

‘Why APGA convention must hold April 8’ From Leo Sobechi, Abakaliki

From Uzoma Nzeawu, Awka

NTERIM Acting National IGrand Chairman of All Progressives Alliance (APGA), Maxi

HE Anambra State governT ment yesterday said it would commence symbolic demolition of illegal structures on Government Reserved Layouts across the state from March 31.

The Commissioner for Lands, Survey and Town Planning, Mr. Okoli Akirika, who issued the threat during an inspection tour of Unity Layout, Nnewi, disclosed that the central objective was to reclaim areas encroached by plot owners and land speculators.

He said: “Government has received a lot of complaints that people are trespassing on government land unlawfully and unconventionally.

“Whoever feels that he/she has any interest in government estate should come along with his papers and have same either verified or rectified because we will no longer tolerate this manner of staccato development where people come in to develop indiscriminately”.

According to him, it does not pay anybody to engage in acts of rascality or illegality, adding that “we have had reasons in the past to destroy structures for this purpose because people resorted to self-help and inducement”.

NEMA seeks better funding for disaster control in C’River HE South-South T Coordinator of National Emergency Management Agency (NEMA), Mr. Emenike Umesi, has called for increased funding for disaster control efforts in Cross River.

Umesi, who made the call in an interview with the News Agency of Nigeria (NAN) in Calabar, noted that Cross River had some peculiar disaster-control problems among other states in the Niger Delta region, which required increased funding by the Federal Government and major stakeholders, including international organisations.

He stressed that the N400 million grant, which the state received from the Federal Government for last year’s flood disaster, was inadequate.

He said that prior to the floods, which ravaged several parts of the country, Cross River had been contending with numerous challenges brought about by natural hazards.

Group tasks govt on crude oil theft HAREHOLDERS Alliance for S(SACA) Corporate Accountability has urged the Federal Government to urgently halt the rising wave of crude oil theft and operations of illegal refineries in the Niger Delta area.

Executive Director of the nongovernmental organisation, Rev. Fr. Kevin O’Hara, made the call in an interview with the News Agency of Nigeria (NAN) in Yenagoa, Bayelsa State capital.

According to the agency, Shell Petroleum Development Company of Nigeria, the largest crude producer in the country, on March 4, raised an alarm on the increasing incidence of crude oil theft.

The company’s Managing Director, Mr. Mutiu Sunmonu, warned that unless efforts were urgently made to curb the illicit oil trade, the company might be forced to shut its Nembe Oil Trunk line.

He said that Nigeria was los-

7

Chairman, Nigerian National Polio Committee, Tunji Funsho (left); District Governor, Rotary District 9125, Felix Obadan; Chairman, Board of Trustees, Rotary Foundation, Wilfred Wilkenson and Chairman, Klump Society, Kenneth Gbagi, at a reception in honour of Wilkenson during his visit to Abuja…on Thursday

Okwu, has stated that based on the declarative judgment handed down by a court of competent jurisdiction, as well as the imperatives of keeping the party alive and kicking, the planned national convention of APGA scheduled for April 8, 2013, in Enugu must hold.

Okwu made the assertion while fielding questions from journalists in Abakaliki at the weekend shortly after attending the burial ceremony of the son of a commissioner of Independent National Electoral Commission (INEC), Dr. Lawrence Nwuruku.

He maintained that despite contrary positions held by interested parties about the

VCs move to check plagiarism in varsities

By Rotimi Lawrence Oyekanmi O effectively check plagiaT rism and other forms of academic fraud in the university system, the Committee of Vice Chancellors (CVC) has entered into a partnership with a United Kingdom (UK)based Information Technology firm, iParadigms Europe Limited, for the deployment of the Turnitin plagiarism detection software in all federal universities.

Under the arrangement, confirmed by the Secretary General of the CVC, Prof.

Micheal Faborode yesterday, the firm would establish a national model for academic integrity, through which the software would compare submitted works against a database of information from Internet pages, journals and

other academic contents across the world.

Through this process, any submitted work, either in the form of thesis or academic report, that had fraudulently copied any part of already published works in other climes, would be isolated and exposed. The onsite training for the process’ take-off in the country has already begun, according to company’s Communications Officer, Caroline Smith.

The CVCs will be committing about US$ 1 million annually to the project. Smith revealed that the figure was arrived at after a “generously negotiated discount.”

Faborode expressed the “overwhelming readiness of vice chancellors across the board” to adopt Turnitin at a recent meeting.

Smith, in a statement,

observed: “Nigeria is the first African country to introduce the system on a nationwide basis.” She also affirmed that Turnitin “is used by 98 per cent of UK higher education institutions, following a national initiative funded by a government body, the Joint Information Systems Committee in 2002.” Pakistan and Turkey are also believed to have adopted the software.

Only last week, the Governing Council of the University of Calabar dismissed five academic staff and demoted 10 others over academic dishonesty. The institution’s Registrar, Dr. Julia Omang, stated that four of the dismissed workers were allegedly involved in plagiarism, while the demoted 10 lecturers were also alleged to have chosen to publish their works in fake or cloned

Four kidnapped Arab hostages may still be alive From Oghogho Obayuwana, Foreign Affairs Editor HERE are strong indications that four Arab nationals out of the seven hostages feared killed by their captors - the Ansaru Islamic militant group - may be alive after all, The Guardian has learnt.

Meanwhile, the Federal Government at the weekend explained why it intends to stick to its policy of not paying any ransom to secure the release of hostages.

At the weekend, eight days after the hostages were reportedly executed, the Federal Government has kept mum over the matter, not confirming and not also dispelling rife speculations on whether the hostages are alive or dead.

More curious is the fact that the video posted on the Internet penultimate Saturday does not close in on the Arab captives as they did for the three Europeans - Brendan Vaughan (Briton), Silvano Trevisan (Italian) and Konstatinos Karras (Greek).

Even at that, the dead bodies are yet to be found or shown.

The Arabs over whom a strange haze now hangs are Carlos Bouaziz and Imad Andary (Lebanese), as well as Julio Khouli (Syria) and wife, Ghaidaa Saad.

Interestingly, while the embassies and high commissions of the Europeans have admitted that their nationals are dead, their Arab counterparts are still tarrying.

After the initial efforts to get the Lebanese and Syrian embassy officials in Abuja to

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• Minister defends ‘no ransom’ policy comment on the issue fell through, they eventually opened up on the matter in a manner that lent credence to the theory of fresh possibilities regarding the state of being of the hostages from Arab countries.

The perplexed state of affairs surrounding the hostage saga has largely remained, as there is still no official confirmation of the claims of the militant group besides a blurred video posted on YouTube.

Curiously, none of the bodies has been identified. The Charge d’Affaires of Lebanon to Nigeria, Wassin Ibrahim, told The Guardian in this regard that his government has no comments on the state of affairs regarding the correct situation of the hostages, as well as the security situation in Nigeria.

He said: “On this matter, I can only say that we are abiding by the international convention governing our relations and our stay in Nigeria. We also align ourselves with the position of Nigeria’s foreign minister. It is the Nigerian security that should speak on the matter and confirm the situation with our nationals. We are deeply concerned with what is happening.”

The story was much the same at the Syrian embassy where its spokesman, Mukhtar Adam, told The Guardian: “We cannot speak on the matter at all. I have no clearance to do that. We await the final comment on the matter by the authorities of our host coun-

try, Nigeria.”

Speaking on the issue, Foreign Affairs Minister, Ambassador Olugbenga Ashiru, called for cautious optimism regarding the exact state (of lives) of the hostages.

He added: “Nigerians should give the security operatives time to come up with something on this matter. They are currently working very hard to enable us give a final word on this. This is the only way to go.”

According to Ashiru, bowing to pressure to part with money in order to secure release of captives negates the wellhoned principle that abhors legitimising the act of hostagetaking.

The minister said: “As a government, we have to be consistent on the issues of morality and legality. It is as simple as that. Nigeria would do everything within the ambit of the law to give freedom to the denied, but we will not make the deplorable practice attractive...”

Fielding questions at the weekend, the minister had said: “As part of our own policy, we don’t pay ransom to terrorists, but we would do everything possible to ensure that those terrorists release them without any harm.”

Eight French nationals, including children under the age of six, were seized last month across the north-eastern Nigeria-Cameroun border by gunmen believed to be members of Boko Haram. They were still being held at the weekend.

journals. They subsequently submitted the same works and got promoted. Omang asserted that the disciplinary measure was taken to “curb academic dishonesty.”

In 2009, the former Vice Chancellor of the University of Benin, Prof. Emmanuel Nwanze, approved the recommended dismissal of two senior academic staff (names withheld) over plagiarism.

The Exam Ethics Marshal, a non-governmental organisation fighting against examination malpractice since 1996, had also recently alleged that academic staff members of some tertiary institutions were involved in academic fraud, calling for measures to curb the trend.

future of APGA, it was high time the party made progress to avoid being relegated to the background in the political arena of the country.

On the implication of the planned convention on the appeal by the former National Chairman, Victor Umeh, against his removal alongside the national working committee members, Okwu stressed that the party was standing firm on the final declaration orders of the Enugu State High Court in the resolution of the leadership crisis within APGA. His words: “Until those declarations are set aside by a superior court, be it Appellate or Apex Court, the declarations remained valid no matter whose ox was gored.

Stakeholders and members of the party have all been invited to attend the convention, which would bring about the rebirth and repositioning of the party not only because of the 2015 general elections but also for the takeover of SouthEast by APGA in the near future.

“There are rules of engagements and the rules are clear to me not only as a politician but also as a lawyer. There is a final judgment of a court of competent jurisdiction, Enugu High Court. Making certain declarations and going by the rules of practice, the court hardly stays declarative judgments. So, we are quite conversant with the rules of engagements”.

While contending that APGA cannot hang by the on-going litigations, the interim acting national chairman recalled that it took the founding national chairman, Chekwas Okorie, eight years to surrender and return APGA certificate.

THE GUARDIAN, Monday, March 18, 2013

8 NEWS

Gunmen kill two in Plateau From Isa Abdulsalami, Jos WO people were killed in the pre-dawn attack yesterday in Wase local council of Plateau State by yet to be identified Fulani gunmen.

An account of the killing stated that the victims were Tarok men, killed by Fulani people who were protesting that nothing had been done to identify and punish those who killed nine Fulani men in January. However, a Fulani source said the two were killed by their fellow Tarok men.

Wase Council Assistant Secretary of Miyetti-Allah Cattle Breeders Association Abdullahi (MACBAN), Abubakar, told journalists in a telephone interview yesterday: “The two Tarok men, we suspect, were killed by their own people following a misunderstanding during a Tarok Day celebration among the Tarok people.”

It was also learnt from a different source that the Tarok Day celebration took place in Langtang while the killing occurred behind Wase Rock as the two were returning from Langtang.

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Osun pays backlog of salaries

By Samuel Okanlawon HE obstacles to the biometric data capturing of all government workers in Osun State notwithstanding, the government has at last paid all salary backlogs to the workers, the Commissioner for Finance and Economic planning, Dr. Wale Bolounduro said in Osogbo at the weekend.

The disruption in salary system was caused in January by the labour union, which halted the automation payment, thereby making it difficult to pay salaries through the electronic payment system.

According to Bolounduro, such disruption has now become a thing of the past as government has paid salaries for January and February.

The policy is meant to ensure payment of salaries on or before the 26th. Bolounduro stressed that the automated or e-payment system is an innovation to make payment as and when due, know the total number of government workforce to check the ghost workers syndrome and plug all holes of waste.

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C’River disburses N85m to communities From Anietie Akpan, Calabar HE Cross River State government through its Community and Social Development Agency (CRS CSDA) has disbursed N85,472,470 to 56 communities under its World Bankassisted programme.

While presenting cheques to the various communities at the Transcorp Hotel, Calabar, Governor Liyel Imoke commended the benefiting communities in complementing government in its efforts in transforming rural communities.

Imoke averred that government-initiated programmes were not only meant for urban areas because every citizen of the state has equal right and opportunity to government projects.

The governor noted that he was fascinated by the work done by the agency and the way communities decided as well as took over the ownership of their projects, adding that it did not stop at completion but in utilisation.

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Governor Sule Lamido of Jigawa State flanked by his Deputy, Ahmed Mahmoud and the Speaker of House Assembly, Adamu Ahmed Sarawa at a grand rally where decampees from ANPP and ACN were received into PDP in Hadejia yesterday.

PHOTO: JOHN AKUBO

Crises rock aviation over airlines’ woes, Dana faults suspension

By Wole Shadare HE recent grounding of Dana Air by the Minister of Aviation, Stella OduahOgiewonyi, has combined with the industrial crisis rocking Nigeria’s foremost airline, Aero, the extinction of Air Nigeria, and lack of conducive operating environment for Nigerian airlines to again highlight the delicate nature of the sensitive industry.

Dana Airline’s licence was inexplicably withdrawn at the weekend by the Ministry of Aviation in what stakeholders termed unnecessary interference in the function of the Nigeria Civil Aviation Authority (NCAA).

The carrier, through its spokesman, Tony Usidamen, said in a statement yesterday that no specific reason was given for the suspension.

He said: “We regret to announce the temporary suspension of our flight operations following a directive from the Ministry of Aviation through the Nigerian Civil Aviation Authority (NCAA) on Saturday, March 16, 2013. No specific reason was given for the action.

“A meeting is, however, scheduled between the management of Dana Air, the Ministry of Aviation and the NCAA on Monday, March 18, and we will update you as we get more information. We thank you for your patience and understanding and look forward to having the pleasure of welcoming you on board again shortly.”

The Guardian had reported the withdrawal of the air-

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line’s licence three months after the Accident Investigation Bureau (AIB) gave the airline a clean bill of health and equally did not find NCAA wanting in its oversight functions.

However, some adduced the recent problems of the airline to pressure from certain quarters bent on seeing to the premature demise of the airline that was beginning to wax strong after the devastating June 3, 2012 crash that killed over 153 persons.

The Assistant Secretary General of Airline Operators of Nigeria (AON), Muhammed Tukur, expressed concern over the Ministry of Aviation’s overbearing interference in the job of NCAA. According to him, “the whole world is watching Nigeria.

The International Civil Aviation Organisation (ICAO) and the United States Federal Aviation Administration are

watching Nigeria.

“The NCAA is the regulator and not the minister or ministry. If care is not taken, we may lose the FAA aviation category one status. You do not play politics with Civil Aviation Authority; no country does that. It is very unfortunate the way we are degenerating in the last 72 hours.”

Meanwhile, aviation analyst, Olumide Ohunayo, said Nigerians should brace up for a high fare regime, reduced competition and appalling services, adding that these decisions would erode the autonomy of the NCAA and intimidate new appointees.

“Government should have been a bit sensitive in carrying out all these decisions of late. I just hope they realise the implication of wiping Air Nigeria, Aero and Dana out of the airspace. The government should be more detailed in their reasons and

ensure that safety, customer service and competitive fares are not sacrificed.”

The minister had defended Dana while lifting its suspension, saying the airline was certified. It is unclear what the airline did this time.

Also, Aero has been battling labour crisis with the union protesting the outsourcing of some jobs to other firms in its bid to cut down on expenses.

This has not gone done well with some who feared that their jobs would be taken from them. In the past one week, the airline, regarded as the second biggest in the country, shut down its operations for restructuring. It is estimated that the airline may have lost over N300 million to the one week old crisis.

Just yesterday, the carrier laid off over 60 workers in its restructuring exercise. The shutting down of its opera-

tions and Dana’s sudden grounding have compounded the woes of air travellers, whose choices are now limited because of the huge traffic these used to provide. It has also raised one hour fares by over 30 per cent.

All existing airlines like Arik, Medview, Chanchangi and IRS are having hectic time coping with demand.

Air Nigeria had stopped operations last year, as it reportedly went insolvent.

When The Guardian visited the domestic wing of the Lagos Airport (Murtala Muhammed Airport 2) terminal, it was like a ghost town, devoid of its usual bubbling nature.

Passengers were few and activities were at their lowest ebb, a serious indication of down turn of revenue for the operator, Bi-Courtney Aviation Services Limited, and other concessionaires in the area.

‘Why we stopped Fitch from rating Kwara’ OVERNOR Abdulfatah G Ahmed says the Kwara State government withdrew from ratings agency, Fitch, because the yearly exercise was no longer required for any major financial transaction.

Speaking on a monthly interactive programme, “The Governor Explains,” he said Fitch was invited to rate the state as a prelude to raising funds from the capital market in 2008/9 and to benchmark against best practices

in financial management.

His words: “We decided as a state when we were going to issue a bond in the capital market to explore the possibility of not only accessing the capital market but also showcasing ourselves to the world as benchmarking against best practices.”

Ahmed, who said that Kwara was the first in Nigeria to be rated by Fitch, noted that the invitation was on transactional basis, adding that the state decided not to

renew the annual rating this year. “If you want to continue to be rated you pay for it and continue to submit data which will be analysed. We did it up till last year. We now feel that since we don’t have any major thing we require the rating results for now we can step it down this year,” he remarked.

“For those who don’t understand, it has nothing to do with our efficiency as a government. What it tells you is that we do not need that rat-

ing to do anything this year”.

Besides, Fitch is not registered with the Securities and Exchange Commission and could therefore not have rated our bond”.

On whether the state would opt for more loans on the maturity of the present bond to finance infrastructural projects, the governor asserted that securing same for infrastructural development was expedient for a government committed to making life better for the people.

THE GUARDIAN, Monday, March 18, 2013

Lebanese president visits Nigeria today

By Gbenga Salau S the President of Lebanon, A Gen. Michel Sleiman, begins a two-day historic state visit to Nigeria today, the Nigerian Ambassador to Lebanon, Oluwole Idowu, has hinted of a remarkable surge in economic collaboration between businessmen from both countries.

It was learnt that key areas of engagement during the visit would include agriculture and food manufacturing, air services, security and political collaboration towards Nigeria’s bid for a permanent seat in the United Nations Security Council, among others.

According to the Nigerian envoy, Sleiman’s visit is remarkable because it is the first by a Lebanese President to the country, in spite of the age-long close business ties between the two nations. The visit, he said, would give bilateral relations between Nigeria and Lebanon a new leap.

NEWS 9

Anambra PDP factions clash at town hall meeting From Leo Sobechi, Abakaliki HAT would have been a W show of shame was averted in Enugu at the weekend when some young men, believed to be political thugs, tore banners belonging to a factional Anambra State Peoples Democratic Party (PDP) chairman, Ken Emeakayi, during the party’s South-East town hall meeting.

The meeting was organised by the PDP Zonal Working Committee (ZWC) to receive members of the National Working Committee (NWC) led by the National Chairman, Alhaji Bamanga Tukur, on reconciliation and reintegration of

aggrieved members.

In attendance at Nike Lake Resort-venue were prominent stakeholders, including governors, members of the national and state assemblies, as well as state chairmen and secretaries of the party from the zone.

However, as delegates started arriving at the venue, a group of young men travelling in a Toyota mini-bus on which was inscribed: “Nnobi Peoples Democratic Party”, and acting on the orders of two men in a BMW saloon car, began tearing solid banners deployed by loyalists of Emeakayi and dumping same into the bus.

Speaking with journalists, Mr. Ebute explained that he had

just finished fastening the flex banners upon which was written, “Anambra State Chairman of PDP, Emeakayi, welcomes our national chairman and members of the NWC to the town hall meeting of SouthEast zone at Nike Lake Hotel, Enugu,” when the men in the two vehicles arrived in the scene and started removing the banners.

The hoodlums, he alleged, were thugs loyal to the selfacclaimed political godfather of Anambra State, Chris Uba, adding that they made sure they removed all the three banners in the hotel premises before driving to an unknown destination.

However, when contacted on the development, the other factional chairman, Ejike Oguebego, said he was the authentic chairman of the party and that his state working committee was the one recognised by the PDP NWC since, according to him, the group participated in the national convention that produced the Tukur-led NWC. Oguebego contended that it amounted to mischief for anybody to force himself to a meeting he was not invited to, stressing that his group had prior to the town hall meeting, toured all local councils and wards in Anambra State to unite the PDP members.

From Gordi Udeajah, Umuahia TWO-DAY international conA ference and retreat has been scheduled to hold at the Igbo

Itesiwaju council boss urges youths to embrace farming HE Transition Chairman of T Itesiwaju Local Council, Olanrinre Adisa Adeniji, has called on the people of the council to embrace farming during this planting season to enhance food production and for economic empowerment.

Adeniju, who made the call during the distribution of economic empowerment materials at the council secretariat in Otu, noted that the council, being an agrarian area, has comparative advantage in agriculture, which can engage a large segment of unemployed youths.

While urging them to take advantage of the Oyo State/Federal Government farming incentives by registering as farmers, he disclosed that the provision of 16 tractors for the council by the state government was a practical demonstration of its determination to encourage farmers in the state.

Adeniji, on behalf of the state, presented economic empowerment materials, including hairdressing machines, deep freezers, power generators, sprayers, cutlasses, motorcycles and televisions sets. He stated that the gesture was to add value to their lives.

Ndokwa protests marginalisation by govt From Bridget Chiedu Onochie, Abuja HE Ndokwa community in T Delta State has protested alleged gross marginalisation

U.S. Igbo Village hosts World Igbo Conference

Village in Staunton, Virginia, United States (U.S.) on March 22 and 23, organised by the Council of Igbo States in America (CISA), an umbrella association of all Igbo in the Diaspora.

Being facilitated by U.S.-based physician and member of Ohanaeze Ndigbo’s national executive, Dr. Nwachukwu Anakwenze, in collaboration with the West African Culture Heritage, Education and Tourism (WACHET) and sponsored by the Igbo World Assembly (IWA), all Igbo communities, state associations, business men and women and individuals have been invited to attend.

Igbo Village is said to be “a tangible recognition of the contribution of Igbo victims of the Atlantic Slave Trade to the development of Virginia and the greater American Frontier Culture, where enslaved Igbo men and women, who travelled by force from many Igbo locations to North America, helped to build what is known as the United States,” CISA said.

A member of the PDP ZWC, Benji Udeozor, described the action of the thugs as a display of political gangsterism, adding that since Emeakayi was not seen in the venue of the town hall meeting, there was no point going ahead to remove the posters and posturing for needless fight.

Neither Uba nor Emeakayi attended the town hall meeting.

Rivers State Governor and Chairman of Nigeria Governors’ Forum, Chibuike Rotimi Amaechi (right); President of the Nigeria Guild of Editors (NGE), Mr. Femi Adesina and the Deputy National President, NGE, Hajia Aisha Sule, during a courtesy visit by NGE to Amaechi…at the weekend

‘Adoption of Child Rights Act, panacea to youth restiveness, insecurity’ try, if passed into law.

“This policy will protect chilHE domestication of Child dren from all forms of abuse, Rights Act will end insecuri- neglect and discrimination, ty and youth restiveness, which are widespread in Nigeria among other social vices in the today, especially with the issues country, the Secretary of Save of rape, child labour, youth the Child Initiative, Sokoto restiveness and unemployment, State branch, Alhaji which are on the increase in the country,” Garba said.

Muhammed Garba, has said.

Speaking at the weekend in a Narrowing the scope to Sokoto regional meeting, which drew State, he said the conflict over participants from Sokoto, some provisions of the act with Kano and Kaduna states, and Islamic Law is hindering its pasorganised by the Centre for sage in the state.

According to him, “because Development Research and Advocacy (CDRA) in collabora- most of our key religious and tion with the National Endow- traditional leaders see it as a ment for Democracy (NED) in Western agenda to make their Kaduna, Garba said the act children become leaders over would serve as a deterrent to them, they are not looking at the those that abuse, violate and angle that this policy will proexploit children in the coun- tect children. We are advocating

From Bashir Bello, Kaduna

T

for its passage in line with Islamic law.”

Similarly, the Executive Director of Community Development Initiative, Kano, Malam Nasiru Kabiru Kura, while expressing support for the passage of the bill, said: “If we can promote the domestication of the Child Rights Act, the child will be protected and well catered for in terms of the right to education, social living, security and social survival and empowerment.”

He blamed Nigeria’s porous borders for the increase in the number of almajiris, and by implication the rise in the level of insecurity in the country.

According to him, “most of the almajiris who claim to come from states like Sokoto and

Zamfara, among others, are not Nigerians but are from Niger Republic, Cameroun or Chad.

“You can identify this with their facial marks, which are different from ours here in Nigeria. These people come into the country without being properly checked; they come in with so many negative things, different cultures and values, and that is the reason we have the present situation.

“Take for instance the 1980 Maitasine saga - the man is known to originate from Cameroun - and look at the kind of ailment he caused the country. What will make us not to think it is the same thing that is happening in the case of the Boko Haram?”

Kidnapped UNIUYO lecturer’s fate still unknown From Inemesit Akpan-Nsoh, Uyo HREE days after the kidnap T of University of Uyo (UNIUYO) lecturer, Dr. (Mrs.) Ime Udotong, her whereabouts is yet unknown, as the kidnappers have neither established contact with the victim’s family nor the police.

The Biochemistry teacher was said to have been trailed by four hefty-looking men last week Friday, who eventually whisked her out of her car in front of her residence along

Idoro Road on the outskirts of Uyo metropolis.

This development has thrown most residents of the state into panic, as the issue of kidnapping has not been heard for a long time in the state.

However, the state Police Commissioner, Umar Gwadabe, has assured her family that the command was doing everything possible to ensure that Mrs. Udotong regained freedom unhurt.

He said the command does not encourage families to pay

ransom to kidnappers, but could not say whether the kidnappers had contacted the family on the matter or not.

“Everything is being done to ensure her release from the hideouts of the kidnappers.

This is one thing I will not want to discuss with you since we have launched a manhunt to ensure her release from the den of the kidnappers. If there is any development, I will let you know,” he said.

Speaking on the matter as it affects his member, the Chairman of Academic Staff Union

of Universities, UNIUYO chapter, Dr. Nwachukwu Anyim, said the union would take a stand on her abduction today.

“The only thing we know is that she has not been released by her abductors. We were told that the kidnappers have contacted the family members. By tomorrow (today), the union will take a stand on the abduction,” he said.

The university’s Vice Chancellor, Prof. (Mrs.) Comfort Ekpo, had also been kidnapped a few months after she took charge as the VC about two years ago.

of the area by the Federal Government.

Coming under the auspices of Ndokwa National Union (NNU), the group at the weekend took its protest to Special Adviser to the President on Niger Delta Affairs, Mr. Kingsley Kuku.

President of the union, Mr. Paul O. Enebeli, decried that the only federal presence in the oil-rich community was a dilapidated prison yard.

“We have oil and gas in quantum and we make enormous contribution to economic development of Nigeria. Yet, Ndokwa people are heavily marginalised in all ramifications,” he said.

Enebeli stressed that the nation’s first gas recycling plant, commissioned at KwaleOkpai in 1987 by then Military President, Gen. Ibrahim Babangida, extracted crude from oil wells spreading across Okpai, Kwale, Benekuku, Umuoru, Umutu, Umusadege and Abalagada.

“Ndokwa land has the largest Non-Associated Gas (NAG) reserves in Nigeria and in the West African sub-region, according to extant seismic, geological and drilling data.

Today, the contribution of Ndokwa land to the oil and gas sector of the economy is significant,” he added.

He prayed the Federal Government to accelerate the stepdown of an agreed 50 megawatts of electricity from KwaleOkpai to the entire Ndokwa land within the stipulated 50km radius in the Environmental Impact Assessment (EIA) document to buoy small and medium scale enterprises in the area.

Meanwhile, since Ndokwa youths did not benefit from the amnesty programme, Enebeli urged government to consider them in its youth empowerment programme.

In his response, Kuku, who is also the chairman, Presidential Committee on Amnesty, pledged to intervene in the matter, saying: “I owe you the responsibility of passing the message to Mr. President.

“Not only that, I will follow it up and ensure that I get an answer. I don’t think it is human for one to have oil and not know the colour of the oil.”

While commending the group for the peaceful conduct of its agitation, Kuku warned that no militant would benefit from the empowerment programme in the region, just as he urged both state and local councils to set up alternative empowerment programmes for Ndokwa youths and women, which come under the third phase of the amnesty programme.

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THE GUARDIAN, Monday, March 18, 2013

WorldReport Hollande, at Toulouse tribute, vows to fight terror RESIDENT Francois P Hollande of France yesterday paid tribute to the seven people who last year fell victim to Islamist gunman, Mohamed Merah, saying he remains committed to the fight against “terrorism”.

Addressing a crowd of around 1,500 people that had gathered in the southwestern city of Toulouse for the service, Hollande said: “The fight against terrorism is global... and allows for no easing off, no weakness and no negligence.”

Hollande, during his speech, also defended France’s military intervention in Mali, saying it was “in the name of the international community”.

Earlier yesterday, authorities said a fifth French soldier had been killed in the fighting with Islamists in northern Mali

since the French-led offensive began on January 11.

“Democracy is always more powerful than fanaticism,” Hollande said.

A self-described Al-Qaeda sympathiser, 23-year-old Merah shot dead a rabbi, three Jewish schoolchildren and three French paratroopers before being killed in a police siege in the city on March 22.

Merah, a French citizen with Algerian roots and who in 2011 received military training in Pakistan, wanted to avenge Palestinian children and punish France for sending troops to Afghanistan.

French police doubt that Merah could have acted alone, but the only person charged with helping him so far is his brother Abdelkader who has denied the charges.

Sudanese military men on trial over plot LAWYER, Hashiem Al-Jali, A hasdisclosed that a military trial has begun in Sudan for Faithful gather on St Peter’s square for Pope Francis first Angelus prayer at St Peter’s square at the Vatican…yesterday. Inset: The pontiff leads the prayer from the window of the apartments.

PHOTO: AFP

Pope Francis wins more hearts with first Angelus E will bring much peace Experts, relations say partial lung may not affect pontiff’s duties “H because he seems more Among them is Argentine above the square. “Pray for me,” humble, more spontaneous… world’s 1.2 billion Catholics.

He seems closer to the people.

We didn’t feel that with the pope we had before.”

These were the words of an Argentine pilgrim to the Vatican, Gabriel Solis, 33, in describing Pope Francis after the pontiff again yesterday underscored his man-of-thepeople approach with his first Angelus prayer as leader of the global Catholic Church.

Solis’ comments were not different from those expressed by thousands of other pilgrims at St Peter’s Square yesterday.

Earlier in the day, the pope grabbed an opportunity to shake hands with well-wishers, plunging into crowds pushing against barricades outside a Vatican gate as security men and Swiss Guards stood nervously by.

Chanting “Viva Il Papa” and calling his name, the wellwishers jostled to greet the new pontiff, who has projected a common touch by breaking with many formal traditions since he began leading the

The 76-year-old pope’s informal style is in marked contrast to that of his more austere 85year-old predecessor Benedict XVI, who stunned the world last month by resigning citing his advanced age.

Meanwhile, experts and those closer to the new pope asserted yesterday that although he has just one whole lung, he may effectively handle daunting challenges ahead ranging from the church sex abuse scandal to strengthening the flock.

Taking a folksy tone in front of 150,000 enthusiastic pilgrims in St Peter’s Square yesterday, the Argentine pope enthused, “brothers and sisters, hello.” It was the same formula as when he greeted the faithful for the first time after his surprise election on Wednesday.

“Thank you for your welcome, and for your prayers,” the first pope from Latin America said from a window of the papal apartment high

he urged.

Many pilgrims in the square waved the flag of Argentina as the former cardinal Jorge Mario Bergoglio recited the traditional Sunday Angelus prayer.

Flags from other Latin American nations including Colombia, Peru, Paraguay and Mexico could also be seen in the crowd.

The Angelus has traditionally been a moment to comment on international issues, but Francis instead used the occasion to emphasise his Italian roots.

The former Buenos Aires archbishop, whose parents emigrated from Italy to Argentina, said he chose to name himself after St Francis of Assisi “to reinforce my spiritual tie with this land”.

A million people may attend Francis’s inauguration mass tomorrow, including world leaders who were expected to begin flying into Rome yesterday.

President Cristina Kirchner who had tense relations with Bergoglio, the former archbishop of Buenos Aires, over issues such as homosexuality and birth control.

The two will hold a face-toface meeting today, the Vatican said.

Moreso, United States (U.S.) Vice President Joe Biden was also due to arrive in Rome later Sunday. A Zimbabwean official meanwhile said President Robert Mugabe – who is under EU travel sanctions – planned to attend the inauguration, noting that “the Vatican is a state on its own”.

Francis has already spoken to Catholic leaders about the need for spiritual renewal and evangelisation and cautioned them against worldly glories.

He warned cardinals that the Church would fall apart “like a sand castle” if it did not have a solid spiritual foundation and urged them to share their wisdom – “good wine that gets better over the years” – with

Arrests of Tsvangirai’s aides, supporters mar Zimbabwe’s referendum NDICATIONS from early results from Zimbabwe’s constitutional referendum reportedly signalled widespread backing for laws to curb President Robert Mugabe’s powers.

But a report by Agence France Presse (AFP) asserted that the referendum and vote count was marred by arrests and intimidation of Prime of Minister Morgan Tsvangirai’s men and supporters.

Vote counting in the referendum has ended and collation of the results is now underway, Xinhua quoted the electoral body as saying yesterday.

A preliminary count of around half a million votes showed more than 90 per cent endorsed the new consti-

I

Mugabe has backed the proposed constitution, which, while curtailing his powers, would also allow him to remain in office for another decade until he is 99 – elections permitting. tution, according to Tsvangirai’s party.

The proposed text would introduce presidential term limits, beef up parliament’s powers and pave the way for a general election to decide whether 89-year-old Mugabe stays in power.

Mugabe has ruled uninterrupted since the country’s independence in 1980, despite a series of disputed and violent polls and a severe economic crash propelled by hyper-inflation.

Mugabe has backed the pro-

posed constitution, which, while curtailing his powers, would also allow him to remain in office for another decade until he is 99 – elections permitting.

His political rival, Tsvangirai, has also lent his support to the text, but has voiced concerns that a continued crackdown

by Mugabe’s security apparatus could derail elections scheduled for July.

The latest sign of that intimidation came yesterday as plainclothes police detained four of Tsvangirai’s senior

aides.

Police confirmed the arrest of Thabani Mpofu, an advisor to Tsvangirai and three subordinates in the premier’s office as well prominent human rights lawyer Beatrice Mtetwa.

“Today, this morning we arrested four people for impersonating the police,” national police spokeswoman, Charity Charamba, told journalists.

“They are currently in police custody. We have also arrested Beatrice Mtewa for obstructing or defeating the course of justice.”

Charamba said Mtetwa was arrested for shouting at police detectives raiding offices where part of the premier’s documents are housed.

hardcore Islamist officers who allegedly plotted to destabilise the regime late last year.

The news came as a Sudanese presidential guard yesterday shot and wounded a man who knifed another guard outside the palace where President Omar al-Bashir works, the presidential press secretary said.

The “nervous” attacker crossed Nile Street to stab the military police sentry, Emad Sayed Ahmed told Agence France Presse (AFP).

“Then another guard shot the attacker, wounding him in the leg. Both of them were taken to the military hospital in

Omdurman where they are being treated,” he said, adding he had no information on who the attacker was.

It was unclear if Bashir was inside the riverfront complex at the time of the rare incident.

The government announced in November the arrest of 13 people, including high-profile members of the security forces and a former intelligence chief, for targetting “the stability of the state and some leaders of the state”.

“The military court began on Thursday and today (yesterday) was the second hearing.

They are charged under Sudan Armed Forces (SAF) law and the court was headed by SAF generals,” said Al-Jali.

U.S. expresses concern over Central Africa’s crisis NITED States (U.S.) has U expressed concern over worsening violence in the Central African Republic and urged its neighbours to “help restore national peace and security.”

According to U.S. State Department, “The United States is deeply concerned about the continued deterioration in the security situation in the Central African Republic (CAR).

“We call on President (Francois) Bozize and the leadership of the Seleka alliance to cease hostilities immediately and implement the provisions of the Libreville Agreement.”

The two-month-old Libreville peace accord, which was signed by all parties, agreed to recognise the government of national unity as “the single, representative entity” empowered to govern the Central African Republic during the critical transitional period, the U.S. said in a statement.

The statement also urged the Economic Community of Central African States (CEAAC) to “rapidly convene the mediation committee called for by the Libreville Agreement in order to support the transitional government and help restore national peace and security.”

China completes ‘largest state leadership transition’ HINA has completed the C largest transition of state leadership to take place in the last decade, ushering in a new era, Xinhua reported yesterday.

Xi Jinping, head of the Communist Party of China (CPC), was elected state president and chairman of the country’s Central Military Commission (CMC) Thursday at a yearly parliamentary session held in Beijing.Xi’s nomination of Li Keqiang as the premier of the State Council, China’s cabinet, was approved one day later by nearly 3,000 deputies to the National People’s Congress (NPC).

Meanwhile, deputies representing over 1.3 billion people

elected leaders and members of the NPC Standing Committee, as well as the state vice president, CMC vice presidents, and heads of the Supreme People’s Court and the Supreme People’s Procuratorate.

The Chinese People’s Political Consultative Conference, the country’s top political advisory body, has also elected its new leadership.

Cheng Li, director of research at the John L. Thornton China Centre of the Brookings Institution, said the formation of a new state leadership concludes a oncea-decade power transfer that was initiated at the CPC national congress held on November.

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THE GUARDIAN, Monday, March 18, 2013

Politics Shaky ACN/AP pact in Oyo ahead 2015 From Iyabo Lawal, Ibadan WO recent decisions by the ruling Action T Congress of Nigeria (ACN) in Oyo State are indicative of break down of the working pact between the ACN and the Accord Party (AP) in the state.

While the state governor, Senator Abiola Ajimobi, sacked the interim chairman of Ona Ara local government, Nurudeen Ademola, an AP member; the ACN made fresh calls on the Economic and Financial Crimes Commission (EFCC) to return the loot recovered from former Governor Rashidi Ladoja, the leader of the AP. Shortly after the 2011 elections, Ajimobi reportedly approached the former governor, who came third in the gubernatorial poll, to help “stabilize” his government.

The AP had pulled some strings by winning seven seats in the state House of Assembly and four in the House of Representatives while the ACN won 13 seats and the Peoples Democratic Party (PDP) got 12 in the state legislature.

This prompted Ajimobi to reach an accord with Ladoja, who was also being wooed by the PDP to work with it to produce the leadership of the state assembly.

To ensure the stability of his government, compromises were made by both sides such that the ACN produced the Assembly Speaker while AP got the deputy speakership slot and some commissioner and council chairmanship seats.

How the crack began The battle for Agodi Government House, Ibadan in 2015 and Ladoja’s purported interest in re-contesting the gubernatorial poll may have sparked the fresh crisis between the ACN and AP. Signs of imminent collapse of the ACN/AP pact became pronounced following Ladoja’s incessant attacks on the ACN and its policies. He was unsparing in his criticism of the Ajimobi-led administration’s urban renewal programme, infrastructural development policy as well as project execution.

The ACN government also fought back by promptly sacking the interim council chairman in Ona Ara, accusing him of running down the ruling party.

Moreover, the state government revisited Ladoja’s issue with the EFCC, urging the commission to release the loot seized from the former governor to the state, to aid its developmental projects.

Accusations and counter-accusations

Ajimobi

Ladoja

Ladoja, in faulting the urban renewal programme of the ACN government, said destroying structures and shops in the capital city amounted to putting the cart before the horse, insisting that for any beautification exercise to have any meaning, it must have human face.

He said with the disenchantment of people with the ACN-led government, the coast was clear for the AP to win the forthcoming polls in the state.

“There is nowhere in the world that the people will be happy with a government that more or less embarked on programmes that bring them heartache; so, it will not be out of place that it is anti-people now and a matter of time for the Accord Party to hold sway in the state,” he said.

Ladoja added that the PDP had come and gone in the state, and “the ACN also will soon go; the future in the state belongs to the Accord Party. ” On its part, the ACN accused Ladoja of inciting traders against the government through his “provocative utterances,” alleging that he had held several nocturnal meetings with the traders, so as to cause disaffection between them and the government.

Through its publicity secretary, Dauda Kolawole, the ACN said Ladoja recently held a meeting with traders at Ogunpa Market, where he discredited the urban renewal programmes as one aimed at deliberately inflicting pains on the people, particularly traders.

“Even with the wide accolades that Governor Abiola Ajimobi has been receiving in his administration’s urban renewal programme, which has brought radical changes to the aesthetics of

Ibadan and other parts of the state, the politician (Ladoja) has been embarking on campaign of calumny against the government,” Kolawole said.

“His sole aim is to set the state on fire and disrupt the peace, which the people of the state have been enjoying since the coming on board of the present administration.”

On the former governor’s case with the EFCC, the ACN said it was obvious that Senator Ladoja, having thought that the case against him had been swept under the rug, had realised that the people of the state would not allow their hardearned sweats to be misappropriated.

“We really sympathise with Senator Ladoja. He is currently searching for needle inside the haystack. It is a puerile defence for Ladoja to hang the blame of the looting of Oyo State on his aide.

“In saner climes, criminals facing trial for economic crimes and related offences, in relation to resources of a state entrusted in their care, keep their mouths shut forever and do not grandstand like moral beacons.

“But this is Nigeria, and such fellows can even thump their chests that they want to come back and rule that same state they cleaned mercilessly,” the ACN said.

Plans for 2015 polls The gale of defections into the AP from various political parties in the state has heightened political activities within Ladoja’s fold.

In one of its meetings, an elated Ladoja said: “Before the last general election, AP was an

unknown party in the state and country. We introduced the party three months before the poll and we believe that the party didn’t do very badly then.

This is because it was just introduced to the people.

“But now, so many people are joining us. But we have not started our campaign. What we are doing is introducing our party to people who didn’t know us. We believe that it is the people who make parties.

“We introduce our party to the public through those who are joining. We are introducing the party to areas where we could not go during the last election. Campaign is too remote now; we shall begin campaign in 2014.

“We are trying to show that we can compete with parties that have been in existence and in power since 1999, including a party that associated a giant name to itself even though the party died a long time ago.

“But we are saying AP is a living party. It is a party that belongs to all of us. We feel that it may be important for us to do that now, so that people will not think that political parties are truly alive only during elections.”

With its increasing popularity, the former governor expressed confidence that the AP would take the lead should the state government decide to conduct the council polls, “the yardstick to judge the popularity of leading parties in the state.”

While Ajimobi has not formally declared his intention to seek re-election in 2015, all indices are that he is set to test his popularity and attempt to break the “second term jinx” in the state.

Following his adoption as the party leader after Lam Adesina’s death and subsequent endorsement for second term by some party leaders in the 11 councils of Ibadanland, Ajimobi has moved to reconcile aggrieved ACN leaders and reposition the party ahead of the 2015 polls.

At various party meetings, the governor made it a point of duty to preach oneness and peace among members, reminding them that it was only in an atmosphere of piece that the party could thrive.

The governor has also made workers’ welfare his priority by providing the needed incentives while making moves to appease traders whose shops were lost to the government beautification policy.

Besides approving loans for traders, the governor has announced a free transportation system for civil servants and students.

Certainly, the next general election in Oyo will be a case study even as Ladoja remains an issue and a major factor to reckon with in the political equilibrium of the state.

Why governing Abia is difficult, by Enweremadu Prince Christopher Enweremadu, former Speaker of the Abia State House of Assembly, commissioner and council chairman, is a chieftain of the Peoples Democratic Party (PDP). He spoke to GORDI UDEAJAH in Umuahia on the issue of rotation of power in the state.

IS there any reason to make people believe that Abia is peculiarly difficult to govern?

BIA people are well informed but unfortunately, they are negatively informed and this makes governance difficult. For instance, Aba, the commercial nerve centre of the state, has people from all over the world coming to do business or even reside in the city. From experience, governing an Aba man is a difficult task.

The expectation of the people from the government is constrained by scarcity of funds and this makes governance difficult. The state is unfortunate to have as neighbours oil-producing states and the people easily make comparisons with what happens in Abia.

How can the governor keep pace with the developments in Rivers, a state that can easily give Abia part of its allocation without even noticing it?

Where Rivers gets N35 BILLION, Abia will get about N5 billion.

Our people will naturally expect that what is done in states like Rivers should be done in Abia. It is not their fault. As I said, they are informed, but not holistically.

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What do you make of the excitement generated by the anticipated return to the PDP of former Governor Orji Uzor Kalu?

This is being over laboured. I am not among those concerned with his return to the party. I believe that he needs to ask himself questions on why he wants to return to the PDP. I share the opinion of many in the PDP that his desire to return has not been demonstrated genuinely. It is clear that there are disruptive tendencies in his approach.

The Peoples Progressive Alliance (PPA), which he founded, is yet to be disbanded. If his supporters were still in the PPA, it would be morally right for him to first disband the PPA because a report credited to the PPA chairman asserted that the former governor’s departure from the party would not affect it.

If all those behind him in the PPA are still working with him and operating in PPA, how genuine is his attempt to return to the PDP? Should the next governor of the state come from the Ukwa Ngwa area, as the people are agitating?

Abia South senatorial zone or Ukwa Ngwa comprises the Ukwa and Ngwa of the state. The Ukwa Ngwa people are prepared for the 2015 Abia governorship election following the agreement with incumbent Governor Theodore Orji that power should shift to the area in 2015. The aspirants are gearing up for the race.

Are the Ngwa in Abia Central Senatorial

Enweremadu Zone excluded from contesting in the governorship?

Originally, state power was shared between the Old Bende and Old Aba zone comprising Ukwa Ugwa Ngwa in Old Bende, which did not take cognizance of senatorial arrangement.

So the next governor should come from Ukwa Ngwa extraction of Abia South in line with our agreement with non Ukwa Ngwa of our old Bende brothers.

In 2011, some Ukwa Ngwa politicians contested the governorship despite the agreement of rotation. Do you expect the rest of Abia not to contest the in 2015?

It would be unconstitutional to stop any interested aspirant from contesting for any available elective position so long as the aspirant is constitutionally qualified.

Today, we are talking about an agreement that led to the support the gov-

ernor enjoyed from Ukwa Ngwa, which has precipitated the promise that he would supervise the power shift to Ukwa Ngwa in 2015. It is on this premise that we believe that if he keeps to the agreement, we will scale the hurdle.

Does that agreement includes the other political parties or is this is purely a PDP affair?

The PDP is the controlling party in Abia and it’s under the leadership of the present governor; and given the scenario and all things being equal, the PDP will still be in power in 2015.

How do you factor in the rivalry between the Ukwa and Ngwa over who should produce the candidate?

It is difficult to put all that together now but the truth is that it is the desire of the majority that power should shift in 2015 to the Ukwa Ngwa. The two areas don’t lack good hands.

There are eminently qualified names like Senator Nkechi Nwaogu, Uzor Azubuike, Acho Nwakanma, Chris Nkwonta, Emeka Wogu, Chinwe Nwanganga, to mention a few.

I have no ambition to be governor but we are working to ensure that the right person emerges to represent Abia.

Why has the area always talked about being marginalised in the scheme of the things?

Under the present state government, the Ukwa Ngwa people have been accorded their dues. But it will be complete when power shifts; then, the talks about marginalisation will stop. Ukwa Ngwa felt marginalised because they

had never produced a governor — military or civilian — for Abia.

In the past, we talked of marginalisation in the disposition of materials but the government has addressed some of these issues as reflected in the appointments enjoyed by Ngwa people at different levels. We occupy two seats in the Senate; this had never happened.

Is there any special strategy open to the Ukwa Ngwa towards actualising this dream despite the agreement?

We remain loyal and supportive to the state and federal governments. Having reached that agreement with our nonUkwa Ngwa brothers and supported by the state governor, we will continue to heed suggestions and liaison with people across the state and members of the ruling PDP. History has shown that the three deputy governors from Ukwa Ngwa were not loyal to the governors. How will an Ukwa Ngwa governor expect loyalty from elsewhere?

As a former Speaker, I can attest to the fact that it is not usually disloyalty that attracts impeachment. I challenge the claim that deputy governors from Ngwa were not good followers.

We have always been in the forefront of electing governors because the majority of Abia people reside in the Ukwa Ngwa area. If some individuals, for any reasons, fall out of favour with their bosses, I do not think it is the reflection of the behavioural pattern of the Ngwa people.

12

THE GUARDIAN, Monday, March 18, 2013

TheMetroSection Isolo General Hospital mortuary: At last, respite for residents

By Tope Templer Olaiya, Assistant Lagos City Editor SOLO General Hospital comfortably Iondary stands out among first-rate sechealth care facilities in Lagos

State. From the main gate into the expansive compound, its ambience, which could be mistaken for a university teaching hospital, is inviting to any visitor.

The sour point of this beautiful hospital, however, is the deplorable condition of the mortuary, which the state government last week announced would be shut on Tuesday, March 26 in the interest of public health.

Long before the Commissioner for Health, Dr. Jide Idris, announced the closure of the mortuary, there had been complaints by residents of Isolo, who have for years endured a poignant odour oozing out of the premises of the General Hospital.

At first, the source of the odour was suspect due to the imposing dumpsite and hyacinth-covered Oke-Afa canal, located a few metres to the hospital, but this was given away by the whiff oozing from the building housing the morgue, which is isolated at a far corner in the hospital.

While management and staffers of the General Hospital have kept mum over the state of the mortuary, which had for years been an eyesore, citing a new rule in the state, which forbids officials from speaking with the press without official clearance, it has been a subdued relief for residents, who are already counting down to the March 26 deadline.

Uchendu Kingsley is happy that, at last, government has seen reason to prevent environmental pollution and health hazards to passers-by and Isolo residents by closing the facility.

“There have been several interventions to bring this to the notice of government and personally, I wrote an open letter to the governor in July 2011, which was published by the media on the deplorable state of the mortuary.”

“When the governor visited the hospital last year to commission the Maternal and Childcare Centre, the community leaders also brought the matter to the fore and he promised to redress the situation.

“We are, therefore, pleased with this decision of government though I don’t see any reason there can’t be a lasting solution to prevent the decomposing corpses from polluting the environment.

“Maintaining a mortuary is not rocket science, if the necessary equipment are in place,” he said.

A mortuary attendant, who did not want his name mentioned, told The Guardian that a new mortuary was under construction, which when completed, would be operated under a Public Private Partnership

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UNERAL rites for Chief Joe FOmekokwu), Ngozi Bardi (Ogbueshi who died at the age of 70, begin on Thursday, March 21, with a service of songs at his residence, No. 5, Denis Osadebay Way, Asaba, Delta State at 5.00p.m..

He will be buried on Friday, March 22, after a funeral service at the same venue at 10.00a.m.

He is survived by his wife, children and grandchildren.

Bardi

Tastee rewards customers at Easter E-TASTEE Fried Chicken Ltd., D owners of Tastee Fried Chicken quick leading QSR in

The entrance to the hospital

(PPP) arrangement.

“It would be under the care of a woman, who is at present managing the mortuary at Ikeja and at Mainland Hospital, IDH, Yaba.”

Explaining the reason for the nauseating smell of the mortuary, the attendant attributed the cause of the odour to abandoned corpses dumped at the mortuary. “Many of the bodies picked on the streets by policemen, especially armed robbers and victims of hit-and-run drivers are brought in here, sometimes in a decomposing state. We cannot, therefore, lump them together with bodies transferred from the hospital or kept here by the deceased relatives.”

In life and in death, there is hierarchy. So, at the general hospital, the priority is to attend to those whose corpse would be paid for, while the unclaimed bodies are lumped in the ante-room, which explains the odour that has got residents worried.

While preferential treatment is given to bodies duly registered and accounted for by relatives, unclaimed bodies are not adequately preserved by the hospital. Worse still, there is no use for them, as they cannot be torn open by medical students as cadavers, since it is not a teaching hospital.

A provision has already been made for unclaimed bodies at the Mainland

General Hospital, Yaba. This was contained in the statement made by the Commissioner for Health, Dr. Jide Idris, who said the recently renovated mortuary has been designated a Social Responsibility Centre, which would receive and accommodate only some categories of bodies.

Available mortuaries in Lagos are Gbagada General Hospital, General Hospital Lagos, Lagos State University Teaching Hospital (LASUTH), Lagos University Teaching Hospital (LUTH), Lagos Island General Hospital, Ikorodu General Hospital, Epe General Hospital and a few private morgues.

With the current population of Lagos put at about 20.19 million, the number of available mortuaries is a far cry from what would be required in the emerging mega-city. When The Guardian visited the about-to-beclosed mortuary at Isolo, there were over 500 bodies yet to be claimed by relatives, while those categorized as abandoned had been hauled away in a van to Mainland General Hospital, Yaba.

An ambulance driver at the hospital, who had been rendered jobless by this latest directive, Mr. Michael Adekoya, said government should reduce the money charged by the hospitals for the use of the mortuary. He also wants private individuals to invest in building private morgues to break the mo-

nopoly of government in the business.

“By the grace of God, I am planning to establish a private facility in my hometown in Ijebu Ode, Ogun State because I love the job. It pays to care for the dead and it is a lucrative business abroad. Many of our countrymen who travel abroad go there to wash corpses, why should they be ashamed of doing it at home. There is nothing special about having private morgues; it is not as complex as building a refinery.”

“The money charged by Lagos State Government is too high. Their mortuaries collect as high as N45, 000 to N50, 000, with a daily sleeping allowance of N1,000. Last week, I took a corpse to Owerri. The man died at night and the next morning the body was on its way to Owerri. I was surprised that the mortuary there only collected N5,000 with a daily sleeping allowance of N200. No wonder, most people prefer to take their dead back home away from Lagos, where everything is expensive,” he said.

For Adekoya, he loves his job and he is not in it for the money. “My joy is offering assistance to the bereaved and the dead. We should learn to care for ourselves, whether dead or alive.

And I am proud to do this in my country and not in a white man’s land.”

Transport firm denies connivance in kidnap of passengers From Chido Okafor, Warri HE suspicious abduction of six Lagos-bound passengers riding in a Greener Line bus service near Ovia in Edo State last month is generating immense tension, as the families of victims and management of the bus service have been exchanging words over whether the driver of the bus aided the kidnapping incident or not.

The six passengers were abducted at about 8:45 am be-

Briefs Joe Bardi, 70, for burial

fore Okada town by gunmen who forced the bus to stop and later released the passengers after ransoms were paid.

The driver of the vehicle was allegedly allowed to go with another passenger while the others were seized by the gunmen and marched into the bush. The development made the victims smell a rat in the kidnap incident accusing the driver of connivance.

But the managing director

of Greener Line, Elder Alex Ohunyon, who spoke with reporters in Warri, absolved the transport firm and its driver of any connivance in the kidnap incident Ohunyon said: “In the North, South and West the country is embroiled in insecurity. There is so much of robbery kidnapping and terrorist attacks.

“One of our buses loaded from Warri on February 27, 2013 headed to Lagos and was attacked by criminals.

The passengers were made to lie down after which they were marched into the bush by the criminals.”

“After a while the driver discovered they were no longer around and drove the vehicle away and called the office to report the attack”.

He said the matter was promptly reported to the police and efforts made to secure the release of the passengers.

Ohunyon said the company wrote to the six families

whose persons were kidnapped to register their concern and empathized with them for going through such trauma. He added that the transport firm was now being blackmailed that its drivers connive with kidnappers, which he said was untrue.

The families of the victims had protested alleging that the driver drove so slowly and may have conspired with the criminals.

Lagos, will again, reward its loyal customers during the Easter period with souvenirs and gifts for purchases made.

This reward will begin on Friday, March 29 and end Monday, April 1, 2013.

The Executive Director, Mr. Olubunmi Adedayo, said: “Easter is globally celebrated as a solemn festival, which reflects on the death and resurrection of Christ for Christians. Bearing this in mind, we will celebrate Easter in low key, while also appreciating our esteemed customers for their continuous patronage”.

“During this period, there will be Easter funfair for kids at FESTAC and Agege outlets where they will have access to bouncing castles, and loads of fun among others.

AISEN holds conference ISTURBED by the dearth of D sustainable succession planning in most organizations in Nigeria’s public and private sectors, the Association of International School Educators in Nigeria (AISEN) will hold a one-day parley, tagged AISEN Conference 2013 on Thursday, March 21, at Oriental Hotel, Lekki, Lagos, to reverse the trend.

Dr. Jeff Bradley of the Partner Educators’ Collaborative, San Francisco, United States of America is the keynote speaker to be supported by Olasupo Shasore (SAN), Nimi Akinkugbe and Ndidi Nwuneli .

According to the Chairman of the Conference, Dr. George Hickman, “the conference will emphasize the importance of succession planning in schools and create awareness of the benefits than can accrue from such.”

IPASE- 3 begins today HE High Commission of T India will from today to Wednesday hold a three-day “Indian Products and Services Exhibition” tagged IPASE-3) at 10.00a.m. daily at 8-A, Walter, Carrington Crescent, Victoria Island, Lagos.

Approximately 25 local businesses will display their products, which would include automobiles, fans, bicycles, pumps, pharmaceuticals, electrical equipment among others.

METRO 13

THE GUARDIAN, Monday, March 18, 2013

Police arrest alleged fraudulent quack doctor in Lagos

By Odita Sunday HE Special Fraud Unit (SFU) T in its continuous clampdown on fraudsters across the country has arrested one Ibukun Ojo, an alleged quack medical practitioner in Lagos.

The suspect who was paraded by the Commissioner of Police in charge of SFU, Mr. Tunde Ogunshakin at the weekend was arrested sequel to a petition by the Canadian High Commission reporting alleged fraud by Ojo’s hospital.

“On March 6, 2013, a petition was received from the Canadian High Commission alleging a case of suspected fraud against Mount Zion Clinic/Hospital located at No. 2, Mukandasi Street, Oja-Oke, Oshodi, Lagos,” Ogunshakin said.

Some equipment found in the hospital

Drugs, gloves, syringes and others ...

The petitioner stated that the first suspect, who is now at large, one Steve Olusoji Fakolujo, a Nigerian resident in Canada, came to Nigeria sometime in May 2012 and approached the suspect, Mr. Ojo who parades himself as a qualified medical doctor, to assist him procure some forged medical bills, which would enable him claim health insurance

The suspect, Ibukun Ojo

from Canadian government.

He added: “The suspect obliged him and forged Medical Professional and Consultation Charges, Drugs and Medications, Ambulance Fee, Accommodation & Feeding and Other Miscellaneous Expenses. All totaling N89, 989,742.46. The first suspect traveled back to Canada and presented the forged documents for claim.”

Suspecting a foul play, the Canadian government contacted its High Commission in Nigeria instructing it to investigate the hospital and report the latter to the authorities.

Ogunshakin further revealed: “The suspect, Ojo, was arrested for forging the claims for Fakolujo. He has made useful confessions to the Police. According to him, he is a 50-yearold man from Arigidi Akoko in Ondo State. A medical student dropout who practices medicine and runs a one-man clinic/hospital with the name Mount Zion Clinic located at 2, Mukandasi Street, Oja-Oke, Mafoluku, Oshodi, Lagos and has been in practice for the past five years.”

“He confessed to the alleged crime and admitted forging all the medical documents including the medical summary report on Steve Olusoji Fakolujo with Claim No. 216316 for a paltry sum of N1, 500.00 with the aid of his unregistered hospital letterheaded paper and payment receipt,” the police boss added.

Detectives visited his hospital and recovered four dirty beds for admitting patients, a dirty small room used as a surgery theatre, some small cards and patients” history files, two stethoscopes and some other “funny’ hospital equipment He said investigation is still on going on the matter, adding that the suspect would soon be charged to court.

The Commissioner of Police warned members of the public to desist from patronizing quack medical practitioners who are not certified to prac-

Photonews

National Senior Partner, KPMG Nigeria, Oluseyi Bickersteth (left); General Theophilus Danjuma; and Global Chairman, KPMG International, Michael Andrew, at the KPMG Nigeria Clients’ Forum, in Lagos... PHOTO: SUNDAY AKINLOLU

Commercial Consul, Economic and Commercial Section of Consulate General of the People’s Republic of China in Nigeria, Mr. Jia Ping(left), Managing Director, Standard Chartered Bank, Mrs. Bola Adesola and Head Origination & Client Coverage, Standard Chartered Bank, Mr. Remi Oyindasola Oni, during the Chinese New Year celebration dinner organized by the bank in Lagos…

Photonews

Mrs. Esther Taiwo Olukoya (left) and Mrs. Emily Kehinde Ogunde, cutting a cake to mark their centenary birthday on Saturday March 16, 2013 at their country home in Okun - Owa. The twins are sisters of the late Oba Aderibigbe Martins, the Olugbani of Okun Owa and both choristers at Saint Barnabas’ Church, Okun Owa. Both are traders but Kehinde, one of the wives of the late Chief Hubert Ogunde, also assisted the husband in the theatre business. They displayed their singing prowess at the event, causing their guests to burst into a frenetic explosion of joy. They were born on March 13, 1913 at Okun Owa, Ijebu, Ogun State.

Probably, these are the first set of twins to clock the age of 100 in Africa. Happy Birthday to the centenarians!

Managing Director/Chief Executive Officer, Premium Pension Ltd., Wilson Idara (right), Head, Corporate Communications, Funmi Femi Obalemo and Executive Director, Kayode Akande at the Customer Interactive Forum of Premium Pension in Lagos...on Friday PHOTO: FEMI ADEBESIN-KUTI

100 years on, Ibadan old students plan restoration with facilities

By Isaac Taiwo N a bid to bring back the lost glory of Ibadan Grammar School (IBGS), its old students associatio0n had not only planned an elaborate programme for the centenary celebration of the institution that commences March 21, but would also be launching a N500 Million Centennial School Development Fund.

Speaking at the Sheraton Hotel and Towers, Ikeja during on the celebration and the launch with the theme “Here and Hereafter,” the Chairman, Board of Trustees, of the alumni association, Mr. Goodie Ibru lamented the decadence in secondary education in the country, which made the old students of the school come together, not just to celebrate the institution that has produced a lot of prominent Nigerians, but also to equip it with facilities that would restore the glory of the school with a view to leaving a legacy for future generation.

Ibru attributed the major problem in education to the government taking over all schools without the wherewithal to manage them.

According to him: “The resultant effect is what the country is suffering today, which has led to poor standard of education, moral decadence and poor infrastructure in schools.”

“They took the schools in perfect standard. It is disheartening that those that have been returned so far were given back in shabby condition with all the glory of the schools in every ramification departed.”

To him, “the answer to poor

I

educational standard and poor structures in schools among others is for the government to return all schools back to their original owners, without which standard of education would continue to go down the drain in this country.”

Ibru lamented the government’s insignificant resource allocation to education adding that this was being done to the detriment of economic development.

“Some states before used to allocate 50 per cent of their budget to education but today, had withdrawn to about 12 per cent thereby, jeopardizing the economy.

“Many countries have been able to effectively develop their natural resources because they invested in education like Japan that invests nothing less than 30 per cent on education. Japan with little resources but high investment in education was before next to America in strength in terms of economic rating but has been overtaken today by China He noted: “Today, teachers are not well paid with poor infrastructure and limited resources, which have caused a lot of harm to many schools and had led to poor quality in education. In IBGS in those days, we had a lot of expatriate teachers with attractive salaries who even later were taken over by university authorities. We had infrastructure, laboratories, good classrooms and good education. We were privileged to have been taught by expatriates.’

“We, old students of Ibadan Grammar School, are alarmed and conscious of the fact that if

the state of education continues like this, we might end up not having secondary education. This is the reason we have come together for the 100 years celebration because students of today are not having the same quality of education we enjoyed during our time and we have risen up to support the school with a view to bringing back the same quality of education we enjoyed at our time.

“It is our hope that for the next 100 years, it would be better because our belief is that any institution that refuses to grow will die. We want the school to grow, we want the kids to grow, which gave rise to what we are doing,” he declared.

Founded in 1913, Ibadan Grammar School has trained a lot of Nigerians in high positions today. It was known in South West to be very unique as the school that had the first set of students of Higher School Certificate (HSC) in the South West and second in the country as a whole, the first being King’s College.

The Secretary of the Association, Mr. Goke Adeniji said some of the facilities to be provided include sophisticated ICT Centre donated by Michael Adenuga, E-Library donated by Chevron to be supported with a “Millennium Library” donated by Bayo Akinde, an old student of the school. Sahara Energy has provided a borehole with storey tank with the influence of Ambassador Cole and Adeniji.

Ambassador Cole said no one passed through IBGS without knowing what to do next.

TheGuardian

14 THE GUARDIAN, Monday, March 18, 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 Probing missing solid minerals funds

HE report that the Revenue Mobilization, Allocation and Fiscal Commission (RMAFC) has begun moves to probe an alleged misappropriation of N873 billion solid minerals development fund, is a revelation that calls for concern. The amount is mind-boggling, but more importantly, the prospect of a probe that may yield nothing is heartrending.

Like the many probes, which have either been jettisoned half-way or which findings are confined to locked-up shelves, this intended probe merely portends an addition to the comedy of errors, which unending probes have become.

The Minister of Solid Minerals, Musa Mohammed Sada, had attributed the alleged misappropriation to book-keeping inconsistencies.

According to reports, the minister disclosed that findings from a performance assessment of the sector revealed that the revenues realized in the form of royalties, charges and fees did not represent the actual revenues generated due to inherent flaws in the system.

Although it is difficult to decipher from this position the fiscal intricacies involved in the management of this sector, the veiled attempt to explain away the alleged misappropriation calls the ministry’s integrity to question. What does the minister mean by ‘inherent flaws’? Why are there inherent flaws in the system? Are the flaws deliberately imputed as a device to defraud?

As a matter of fact, Section 85(2) of the 1999 Constitution of the Federation Republic of Nigeria states that, “the Public accounts of the Federation and of all Offices and Courts of the federation shall be audited and reported on by the Auditor-General who shall submit his report to the National Assembly; and for that purpose, the Auditor-General or any person authorized by him in that behalf shall have access to all the books, records, returns and other document relating to those accounts”.

In this case it is important to ask: Is the Office of the Auditor-General of the Federation aware of these flaws?

What is clear is that there is a breach of due process and a tendency to circumvent the laid-down procedures for audit queries.

This is a sad commentary on Nigerian government’s predisposition to accountability. It is a clear demonstration of inept fiscal management, against the backdrop that not too long ago, stakeholders in the solid minerals sector of the economy had decried the non-development of the sector owing to paucity of funds. Then, they had alleged that banks and other lending institutions were hampering the development of the sector by denying investors access to funds for mining activities.

And in response to this urgent clamour, the Federal Government entered into a partnership with some international institutions to establish the Solid Minerals Development Fund.

Given this scenario, a new dawn in the sector ought to be the least of many expectations. Alas, Nigeria is where resources are reserved for prebendal patronages, and direct pilfering and probes of such robbery form part of the equation. Every day, ad nauseam, Nigerians are inundated with reports of the Federal Government instituting probe panels over funds that are purportedly in its care. As moral devices for accountability and transparency, these probes are seldom successful and have lost their efficacy because they are often tailored to parochial interests and are ad hoc measures to address issues that demand long-term solutions. Above all, they often turn out to be schemes for covering up the crime.

By this circuitous rigmarole, however, the impression is given that Nigeria is a country of fraudsters and fund managers with zero respect for accountability.

The ultimate culprit of this fiscal indiscipline is the government that has, by intent or design, become the violators of the processes it has set up. Despite its numerous ministries, departments and agencies (MDAs), the government seems to have encouraged a culture of recklessness by setting up committees for everything with the express aim of compounding governance failures. Committees and ad hoc panels are set up to carry out the function of a government establishment, whose responsibility is duplicated elsewhere in the system.

This cumulation of ineptitude in management and outright pillaging of the treasury has resulted in a situation whereby accruals from the national endowment are yet to translate the nation’s socio-economic life into any level beyond mere subsistence. A culture of self-enrichment by plundering the national wealth with reckless abandon now rules.

Today, there is an urgent need to refine the processes of wealth management for Nigeria to survive.

T

LETTERS

The plight of DELSU pharmacy graduates the governor for being able to

cal rotation and ward round as The fact that Delta State Sof IR:University, Abraka has two sets secure accreditation for the med- the authorities prevent them un-inducted pharmacy gradu- ical school about three years ago. but the same teaching hospital ates might be a fact only known to the students and perhaps the management of the school. This is to draw the attention of the general public, the state government and the Federal Government, the Pharmacy Council of Nigeria (PCN), practising pharmacists and other relevant authorities to help these students.

To start with, practising as a pharmacist in Nigeria requires one to have a pharmacy education in any of the PCN accredited pharmacy schools in the country and then inducted as a pharmacist by the same body. Pharmacy education in Nigerian schools is for duration of five years and like other professional courses demands huge school fees and provision of other educational materials, not minding the academic challenges that face the students.

Delta State University’s department of pharmacy has not received accreditation from the PCN and as such the 2011 and 2012 sets cannot be inducted. The students till date have not resorted to any form of demonstration whatsoever to cause rancour in the state as other professionals do. But the grouse of these affected students is that the governor of the state, Dr. Emmanuel Uduaghan has either refused to pay any attention to their plight or is not interested in the pain these students and their parents bear, contrary to his three-point agenda, which includes human capital development.

Credit has to be given though to

But why governor Uduaghan has refused to do so for the pharmacy school is still unknown to the students. Perhaps it is the issue of professionalism as the governor himself is a medical doctor since medical doctors and pharmacists in a strict sense are never at ease or does the governor not deem it fit to have a fully accredited pharmacy school in the state?

Another point that should be noted is the inability of the pharmacy students to use the University Teaching Hospital (DELSUTH Oghara) for their clini-

allows medical and nursing students to use the place freely as well as provide accommodation for them. This leaves the pharmacy students wondering if they are lesser students. Is the university facility not meant to be used by all eligible students? Delta State indigenes and the concerned students are therefore appealing to the state government, PCN and other concerned bodies to help these students to redress this imbalance.

• Anthony Awunor, Lagos.

Oguns Street needs Ifako-Ijaiye LGA attention It is no gainsaying that the allel to Iju-Ishaga/Agbado Road of the incum- between Toko-Taya and Olusesi SbentIR:administration chairman of Ifako-Ijaiye bus-stops. It also links other Local Council of Lagos State, Hon. Toba Oke will be remembered for embarking on massive road rehabilitation. This issue was one of the cardinal promises he made to voters in the council area during his campaign in October 2011.

However, the residents of Oguns Street are yet to enjoy dividends of democracy as the ever busy street that links Agbado Road from Iju-Ishaga has consistently remained an eyesore and impassable to residents and road users during raining season owing to total absence of drainage on both sides of the street. The street that is wide enough to accommodate a good drainage system runs par-

adjoining streets.

Though several appeals were made to past chairmen for provision of drainage on the street since the return of democratic governance at council level in 1999, all these fell on deaf ears despite the fact that residents and business owners on the street contribute to the internally generated revenue of the local council.

We hope that the administration of Hon. Toba Oke will embark on provision of drainage on Oguns Street so as to prevent flooding that has remained characteristic of the street during raining season.

• Mutiatu Olaideinde, Lagos.

THE GUARDIAN, Monday, March 18, 2013

BUSINESS 15

Business Business Interview P.62 The path to promoting stock market’s fortunes

Reps tackle non-remittances by agencies From Terhemba Daka, Abuja O ensure accountability, T the House of Representatives has begun efforts to block revenue leakages as well as address the alleged non-remittances by government-owned corporations and agencies.

Meanwhile, the House has debunked the misconception that members were seeking blanket immunity that would keep them above the law, but that what the constitutional amendment Bills were rather asking for was “just speech immunity to guarantee members’ freedom of expression on the floor and in committee sittings.”

Consequently, Chairman, House Committee on Finance,

Abdulmumin Jibril, who fielded questions from journalists at the weekend, gave indication that the draft amendment bills to the Acts establishing the affected bodies were ready and would soon be presented before the parliament.

He further disclosed that efforts were also on to repeal and re-enact the Fiscal Responsibility Act, 2007, especially to give the Fiscal Responsibility Commission power of enforcement.

Specifically, Section 21 of the Act provided for the affected bodies, 31 of which were listed in the schedule, at the required time, forward their revenue and expenditure projections to the Minister of Finance, who in turn shall

The biggest challenge to us as a committee is the NNPC. It has never remitted a dime to the Consolidated Revenue Fund of the Federation. attach same as part of the yearly appropriation bill to the National Assembly.

But the affected corporations and agencies often rely on their establishment Acts to spend such internally generated revenue, a development the National Assembly insisted was unconstitutional.

“The biggest challenge to us as a committee is the NNPC. It has never remitted a dime to the Consolidated Revenue Fund of the Federation,” Jibril stated, stressing that the committee discovered that from 2009, the Corporation generated over N6 trillion, but

Group Managing Director was compelled to appear only when a threat of bench warrant of arrest was issued.

Rather than defend allegations of non-remittance of revenue, he said NNPC was engaging in accusing the committee of being out to embarrass it, pursuing a hidden agenda and that the committee investigation was inconclusive before it made its report public.

According to him, the committee’s efforts had begun to yield positive results as the Central Bank of Nigeria (CBN) had remitted N80 billion of

the N95 billion it withheld, and the Nigerian Ports Authority had paid over N20 billion of its withheld revenue, vowing that NNPC and all other agencies “must pay.”

Chairman, House Committee on Media and Public Affairs, Zakari Mohammed, alongside sponsors of the two controversial bills, Ali Ahmed and Ralph Igbokwe, at a media chat at the weekend, explained that members were rather driven by the passion to strengthen democratic institutions, saying it was unfortunate that the proposed amendment was being misconstrued by members of the public.

According to Mohammed, seven Malawian lawmakers are currently facing trial for treasonable felony over what

they said on the floor of the parliament.

“What we are saying is that we don’t have to wait until such happens in Nigeria before we take action,” he said.

The lawmakers argued that provisions of the Legislative Houses Powers and Privileges Act of 1953, were apart from its age, inadequate and that the speech immunity being sought would only be within the precinct of the legislative house.

On safeguards against abuse of such immunity if obtained by members, Igbokwe said standing rules of the House already made provisions against the use of offensive words on the floor.

Govt renames Ministry of Trade and Investment

By Roseline Okere

Managing Director, Chief Executive Officer, EcoBank Nigeria Plc, Jibril Aku (left); Senior Community Manager, Africa World Economic Forum, Sophie Bussman-Kemdjo; Group Chief Executive Officer, EcoBank Transnational Incorporated (ETI), Thierry Tanoh; Chairman, Africa World Economic Forum, Elsie Kanza during World Economic forum on Africa 2013 CEO brainstorming dinner in Lagos at the weekend.

PHOTO: GABRIEL IKHAHON

NLNG earnings hit N9tr, gas production rises to 23 mtpa

By Sulaimon Salau HE Nigerian Liquefied Natural Gas (NLNG) has earned about $60 billion (about N9 trillion) from its gas production and shipping business in the past 13 years.

The Managing Director,Nigeria LNG, Babs Omotowa, who revealed this at the 2013 yearly Olobiri lecture Series in Lagos, on Thursday, said the earnings were made from 3000 LNG shipments made locally and to the international market.

According to him, the com-

T

pany’s gas production has increased to about 23 million tonnes per annum (mtpa), an increase of one million from 22mtpa from previous production.

Although, stakeholders in the industry have recently raised concerns that Nigeria’s LNG production may not record any significant increase until 2015, due to some unfavourable factors, Omotowa was however, optimistic about growth in LNG output.

According to him, “we have shipped 3000 LNG to cus-

tomers globally and we accounted for over $60 billion revenue in 13years.

Omotowa said that the company has paid over $15 billion to companies on feedgas purchase Upstream JVs (Joint Ventures).

He added that the company had also paid over $23 billion dividend to four Shareholders, while $180 million was paid on VAT, taxes, among others.

The NLNG boss however stated that although more of the gas cargoes being exported to foreign market, he said the

company has also made significant commitment to Nigerian market to boost local utilisation.

Specifically, he said about 63 per cent of the 23 million tonnes gas produced yearly goes to Europe, while 32 per cent are Asia bound.

“This was first time that Nigeria government provided regulatory measures to encourage gas utilisation, which create enabling environment for serious Nigeria investors to partner with the International Oil Companies (IOCs).

“As at today NLNG is producing seven per cent of global Liquefied Natural Gas market,’’ he said.

Omotowa pointed out that NLNG currently contributes four per cent of Nigeria’s Gross Domestic Product, adding that the company had supplied about 150,000 metric tonnes of Liquefied Petroleum Gas (LPG), popularly known as cooking gas into the domestic market.

He said that this represented about 65 per cent LPG (cooking gas) that has been distributed in Nigerian market.

THE Federal Ministry of Trade and Investment has been renamed Federal Ministry of Industry, Trade and Investment (MITI), with effect from March 9, 2013.

The new identity was said to have been informed by the need to highlight moves to reposition the nation’s manufacturing sector.

The Minister of Industry, Trade and Investment, Olusegun Aganga disclosed this development at a meeting with the National Council of the Manufacturers Association of Nigeria (MAN) in Lagos on Thursday.

MAN has been the leading voice in the call for name change when government named the former Ministry of Commerce and Industry in 2011 as Ministry of Trade and Investment.

At the meeting with MAN national council, Aganga reiterated the position of the administration that the new National Industrial Revolution Plan (NIRP) would be the driver of the new vision of government for the manufacturing sector.

Besides, at the inauguration of the board of the National Competitiveness Council of Nigeria (NCCN) on March 4, President Goodluck Jonathan said that the 2014 budget and beyond would be designed to encourage the manufacturing sector for employment generation.

The 18-member board is chaired by Aganga, with President, Chief Kola Jamodu as member.

In support of government’s new resolve, the Minister explained that no major nation has managed to transCONTINUED ON PAGE 16

THE GUARDIAN, Monday, March 18, 2013

16 BUSINESS

Ministry gets new identity CONTINUED FROM PAGE 15 form itself from a poor nation to rich nation by relying solely on exports of raw materials without a vibrant industrial and services sector.

He added that it is therefore critical for the country to address industrial development of Nigeria.

Aganga added that Nigeria currently underperforms its regional and global peers on industrial development but that the mission of government was to increase manufacturing contributions from four per cent to eight to 10 per cent of Gross Domestic Product over the next five years.

Jamodu had commended Aganga for his uncommon commitment to resolve challenges that manufacturers face in the domestic economy.

He also thanked the Minister for his open door policy and prompt responses to issues reported to the government by manufacturers.

Oil prices gain on weaker U.S. dollar Deputy Vice-Chancellor, Academics, Federal University of Technology, Akure, Prof. Emmanuel A. Fasakin (right); Chairman, MTN Foundation, Ambassador Hamzat Ahmadu; Executive Secretary of the Foundation, Nonny Ugboma; and Chairman, Anglo-Nigeria Welfare Association for the Blind, Ogie Eboigbe, at the Foundation’s scholarship awards, in Lagos.

PHOTO: FEMI ADEBESIN-KUTI

NPA establishes joint venture dredging firm for Calabar channel

By David Ogah HE Nigerian Ports T Authority (NPA) may have floated a new dredging company in partnership with a Netherlands firm - West Minster Boskalis- to carry out capital and maintenance dredging of the Calabar channel. The new outfit is Calabar Channel Management Company (CCMC).

Authoritative sources said at the week end that NPA has a controlling equity stake of 60 per cent of the company, while the foreign firm has 40 per cent share, although

it will provide the management team With the establishment of the CCMC, NPA now has the largest interest in the dredging of the Lagos, Bonny and Calabar channels because it had six years ago, established a joint venture dredging company for Lagos channel and Bonny channels.

While the company it established for Lagos channel is called Lagos Channel Company (LCM), the firm set up to dredge the Bonny channel is called the Bonny Channel Company (BCC).

The new company has already won the bid to dredge and carry out maintenance dredging of the Calabar channel.

NPA spokesman, Captain Ihanachor Ebubogu, confirmed the establishment of the joint venture company for capital and maintenance dredging of the Calabar channel but declined confirmation of the contract already awarded.

The attempt to dredge the Calabar Channel was first made nine years ago when a multimillion Naira contract was awarded to a foreign firm failed as the dredging

was not completed.

Two years ago, another attempt was made by awarding the LCM the contract, but the contract generated controversies as a foreign firm which participated in the bidding process protested and petitioned the NPA and accused it of favouritism, saying it gave out the job to the company because of its interest in it in contravention of public procurement Act. The company claimed it submitted the lowest bid for the project and therefore had the most competitive bid, which ought to

have been considered as a winning bid But the NPA later defended its action, saying the completion period and the fuel price quoted by the foreign company was not realistic.

It said the company quoted $765\Mt, while the prevailing rate was in excess of $1000.

“This will lead to the claims of variation and price adjustment even before the signing of the contract agreement”, said the NPA the in response to enquiries on the contract by the Federal Ministry of Transport.

RUDE oil prices settled C higher at the weekend, driven by strong U.S. industrial output data in the world's largest oil consumer and a weaker U.S. dollar.

The weaker dollar buffered oil prices from declining on the back of the U.S. stock market being knocked off its highs.

U.S. crude oil futures settled 42 cents higher at $93.45 per barrel on Friday. Brent crude oil settled up 86 cents or 0.79 percent at $109.82 per barrel also on strong U.S. economic data, and Middle East supply concerns.

The dollar fell as investors opted to book profits after U.S. inflation data kept the door open for the Federal Reserve to continue its bondbuying program for the foreseeable future.

“The dollar is down a lot more in the last two days so hence the buoyancy in energy prices," said Walter Zimmermann.

Jonathan seeks private sector’s support for centenary project was a demonstration of his Pius Anyim disclosed that RESIDENT Goodluck government’s confidence in with the subscription of P Jonathan has enjoined the sector. $100 million as the capital chieftains of the organised private sector to support the Nigerian Centenary Project, especially the celebrations designed around the key concepts of unity, indivisibility, virility, progress and promise of the Nigerian Federation.

Speaking at a special dinner, which he hosted for Chief Executive Officers (CEOs) of major companies operating in Nigeria on Thursday in Abuja, Jonathan opined that the support of corporate Nigeria is important to the successful hosting of the year long activities marking the centenary celebrations.

The support of the corporate chieftains, he noted, is all the more essential since The Nigerian Centenary Project will not attract any funds from the government but will be entirely financed by the organized private sector.

Jonathan emphasised that the involvement of the private sector in the project

He added that the Federal Government wishes to commemorate the 100 anniversary of the amalgamation of Nigeria in 1914, with the development of a new city in Abuja to be called “Abuja Centenary City”.

He disclosed that beside the centenary city, which would provide all the facilities that Nigerians travel out of the country to go and enjoy abroad, unity squares would also built in all state capitals to add to their beauty.

According to him, “the private sector should take the lead in realising this our national aspiration. Your support will identify you and your brand with national success. We are encouraging a citizen driven commemorative event that will replace negative narrative of the nation with a story of a blessed nation”.

At the forum, the Secretary to the Government of the Federation, Senator Anyim

call for the centenary city plans are underway to ensure its listing on the Nigeria and London Stock Exchanges.

According to Anyim, “it is the desire of the promoters of the city that in the nearest future, the stock of the city would be quoted on the Nigerian and London Stock Exchanges”.

He noted that the production of the city’s final master plan was at advanced stage while foremost consultants, Price Waterhouse Coopers had been appointed financial consultants for the project. Anyim noted that frontline advertising agency, DDB, Lagos has been appointed the official marketer of the centenary activities while Sterling Partnership was appointed the legal consultant.

“The entire celebration is planned to be investment driven such that nobody should put in a kobo without getting value for it”, he

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DPR to revoke licences of undeveloped oil marginal fields

By Roseline Okere HE Department of Petroleum Resources (DPR) has given owners of under-developed marginal fields the next one-year to put the fields into production or lose their operating licences granted by the agency.

Director of DPR, Osten Olorunsola, who disclosed this at the weekend, at the official launch of a new Oil and Gas online weekly publication tagged NOGIntelligence, said that the country would hold the next oil marginal field rounds as soon as it gets approval from the Federal Government.

According to the director, it is no longer going to be busi-

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ness as usual for marginal field operators, as the agency had concluded arrangement to ensure that the country got the best from its oil marginal fields across the country.

Olorunsola said that the next auction was likely to be for both onshore and offshore fields totaling at least two billion barrels, which would include both big and marginal fields.

He stated that present marginal fields licences, which were granted in 2003, were maturing and giving good results.

Olorunsola dispelled claims that 83 per cent of the oil blocks belonged to a certain

ethnic group.

He gave an insight into the outlook of marginal fields operations and emphasised that the department was looking to streamline the next timeline for marginal fields operations for greater efficiency just as the new design would be simpler and more transparent.

“We look to avoid initiatives that backfired to litigations, ensure reserves volumes are truly bankable, encourage frequency of programmes and hope that the passage of Petroleum Industry Bill will help as well,” Olorunsola stated.

Giving a presentation on Marginal Fields

Development in Nigeria, - a review of policy, regulations, activities and future outlook, Olorunsola said that present marginal fields operators were breaking new grounds, by creating employment and empowerment for Nigerians, integrating value, increasing crude oil production, monetising gas, increased small scale refining, and unlocking stranded molecules.

According to him, out of the 178 oil blocks awarded, the 90 oil fields given to indigenous companies were producing about six per cent of Nigeria’s crude oil, while the other 83 oil fields given to multinationals, were producing the remaining 94 per cent.

He stated that challenges such as litigation, inability to access funds and the right people, environmental issues (local governments, communities, security, flaring etc, increasing costs of people, goods and services, technology limitation and non-bankability, delayed agreements were inhibiting the operation of the marginal field operators.

“Many of the operators have also shown better handle of local communities, deployed new technologies and engaging in unprecedented collaboration. The MF programme struggled initially, but now maturing and delivering good results. The programme

appears to be a surer (less risky) vehicle to realise the original intent for indigenous participation. Outlook is bright and promising; next round of awards will be expedited as soon as approval of the president and minister for petroleum resources are secured.”

Earlier Publisher of the online NOG Intelligence publication, Mrs. Remi Aiyela, explained that the weekly online newsletter would provide the oil and gas and the wider financial community with actionable intelligence, news and data on the Nigerian petroleum industry.

StanbicIBTC gets global security certification on payment systems in Lagos, STANBICIBTC Bank Plc’s card payment services have been certified as compliant with the Payment Cards Industry Data Security Standards (PCI DSS), by the PCI Security Standards Council, a global body charged with ensuring the security of card payment services.

With the development, StanbicIBTC’s card payment solutions-debit and credit card services, have met the highest standard of security of customers’ information and transactions on its ebanking platform, which greatly lowers the risk of system compromise.

According to a statement, the bank’s Executive Director, Personal and Business Banking, Obinnia Abajue,

said, “the certification reflects the institution’s determination to continue to provide value-added services to its clients, ensure business integrity and commitment to security of customer deposits, details and financial privacy based on global best practices.

“The certification guarantees seamless operations of the bank’s e-platforms, translating to efficient and secure service delivery to customers.

“At StanbicIBTC, we understand the risks associated with modern banking and that is why we insist on global best practices in our operations and deploy world class cutting-edge technology to ensure that our transactions are protected and our customers better served in a secure, transparent, efficient and seamless manner.

Minister of State for Trade and Investment, Dr. Samuel Ortom (left); Director-General, National Automotive Council, Alhaji Aminu Jalal; and Managing Director, VON Automobiles Nigeria Limited, Tokunbo Aromolaran, during a supervision visit to the plant, by the minister and his team,in Lagos.

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AfDB plans open data platforms for Nigeria, others

By Adeyemi Adepetun S part of efforts to improve information flow in Africa, the African Development Bank (AfDB) has launched an Open Data Platforms for Nigeria and 19 other countries on the continent.

Other benefitting countries include Algeria, Cameroun, Cape Verde, Democratic Republic of Congo, Ethiopia, Malawi, Morocco, Mozambique, Namibia, Ghana, Rwanda, Republic of Congo, Senegal, South Africa, South Sudan, Tanzania, Tunisia, Zambia and Zimbabwe.

The Open Data Platform programme is part of the AfDB’s ‘Africa Information Highway’ initiative aimed at improving data management and dissemination in Africa.

Work is on course to complete platforms for the rest of African countries by July 2013.

According to AfDB, the platform is a user-friendly tool for extracting data, creating and sharing own customised reports and visualising data across themes, sectors and countries in tables, charts and maps.

The development bank explained that through the Open Data Platform, users could access a wide range of development data on African countries from multiple

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international and national official sources.

The platform also facilitates the collection, analysis and sharing of data among countries and with international development partners. The platform offers a unique opportunity for various users, such as policymakers, analysts, researchers, business leaders and investors around the world, to gain access to reliable and timely data on Africa.

Beside, through the platform, users can visualise time series development indicators over a period of time, perform comprehensive analysis at country and regional levels, utilise presentation-ready graphics or create their own, blog and share their views and work with others, thereby creating an informed community of users.

Once implemented, the Open Data Platform will be used by African countries for all data submission flows to the AfDB and possibly other international development partners, including the International Monetary Fund (IMF), EU Commission, World Health Organisation (WHO), UN Food and Agriculture Organisation (FAO), African Union Commission (AUC) and UN Economic Commission for Africa (ECA).

Deloitte becomes leader in information security HE Forrester Wave has once T again named Deloitte a Leader in “Information Security Consulting Services, for the first quarter of 2013.

The report, which is an update to the 2010 Security and Risk Wave publication, said: “Deloitte continues to be a Leader with exceptional client feedback.”

In compiling its ratings, the firm cited Deloitte’s “exceptional client feedback and comprehensive, sophisticated, and mature service offerings.”

The Forrester report also considered Deloitte as demonstrating deep technical expertise and global reach. Our Firm was the top-ranked security and risk consulting provider in the current offering category.

According to Enterprise Risk Services Leader of Deloitte West and Central Africa, Anthony Olukoju, “client ref-

erences are an important component of analyst reports.

So I am particularly proud that, out of the 10 information security consulting services providers assessed, we earned the highest score for client feedback.”

Forrester noted Deloitte’s “clear focus on delivering business value to the client, has been our hallmark for years and has allowed us to maintain a leadership position since 2007”.

Head, Security, Privacy and Resiliency at Akintola Williams Deloitte, Tope Aladenusi, also stated that “Deloitte still has the largest information security practice in Nigeria as well as globally, and similar to last year’s, the Firm is passionate about client success.

“Our client references were exceptional and, our ability to execute was rated the highest of all the participants.”

President, Media Independent Practitioners’ Association of Nigeria (MIPAN), Tolu Ogunkoya (right); Managing Director, Media More, Feyisola Olukoya; Managing Director, Maximedia Global, Femi Adefowokan; and Managing Director, Adgenda Media Limited, Ladi Arowa, at MIPAN induction of media agencies, in Lagos.

Hoteliers protest incessant power outage From Chido Okafor, Warri EMBERS of the Hotelier Association in Delta State have protested to the Power Holding Company of Nigeria (PHCN), over persistent power outage in Warri and environs.

They were particularly irked that even some of them who were able to acquire trans-

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formers for their hotels to improve supply have been subjected to arbitrary charges ranging from N141, 000 monthly and above, beside paying their respective monthly electricity bills.

The hoteliers lamented that while their businesses were going under due to unsteady power supply and the exodus of oil firms from Warri

and environs, the PHCN was frustrating members who have bought their own transformers to boost supply.

The Chairman of the Hoteliers Association, Chief George Owarieta, said: “The PHCN came up with what they called fixed charge on transformers and this fixed charge is N141,000 plus in a

FDHL strategises for financial market services

By Chijioke Nelson INANCIAL Datanet House Limited (FDHL) said that the relevance of any given organisation could only be measured by its strategic position and contributions to the development of the economy, together with its impact on the social environment.

The Managing Director of FDHL, Tayo Onadele, made the assertion during a media briefing with journalists on the activities of the company and its sojourn to a fullfledged consulting firm.

According to him, organisations should be strategically focused, such that its services and presence would be beneficial to both the intended and others who might not be directly intended.

The company, which management team is wholly made up of Nigerian professionals, who are committed

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to providing world-class standards, started as a financial market consulting firm and developed its services in small segment of the market, to a full-fledged consulting firm, delivering top notch services to broader areas of the financial market, management and human capital development.

Onadele explained that the company, through its dogged approach and quest to deliver on its core values of learning, confidentiality, integrity, passion and provision of highest quality standard, broadened its reach to cover risk management, corporate treasury management, corporate governance and management, with extensive focus on financial markets, organisations and people.

“The firm has developed simulation-based training modules in all the financial mar-

kets- foreign exchange, treasury bills, bonds and equities in order to improve capacity building in the Nigerian financial markets.

“We have also built a webbased market intelligence portal. We pioneered the executive scholar programme for non-executive directors and now at the forefront on the campaign for the establishment of Association of Corporate Treasurers of Nigeria, a strategy aimed at the empowerment of the non-financial sector, by upgrading their various corporate treasury management and risks management capabilities,” he said.

The FDHL boss noted that the organisation’s vision was geared towards making the best out of every endeavour it was into, while creating value for individuals and contributing to the economy’s

month, irrespective of whether you consumed electricity or not before they calculate your consumption.

“We see this as very embarrassing for the hoteliers who bought transformers with their own money and they bought these transformers because they want to improve the services of PHCN to their company.

PHCN said the transformers belong to them even though they were bought by us, but we have no argument.

“But they should not impose an additional tax for owning a transformer because we are even helping them improve service to the society. We have freed ourselves from the rest of society so why should they impose this type of tax? Some of us cannot even pay because the business climate is not as rosy as they used to claim.”

But at a meeting of the hoteliers and PHCN officials had at Ishaka Hotel, Effurun, the PHCN District Senior Marketing Manager, Chris Egwuyeng and the Public Affairs Officer, Mrs. Helen Ogagarwe, denied that the PHCN was charging hoteliers on personal transformers but the public affairs officer insisted the hoteliers should allow consumers in the vicinity to connect to their transformers if they didn’t want to be billed by PHCN.

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22 BUSInESS

THE GUARDIAn, Monday, March 18, 2013

Govt assures local vehicle manufacturers of enabling business environment

By Taiwo Hassan HE Federal Government has assured local vehicle manufacturers in the country that it would provide an enabling environment for their business to thrive, despite the harsh business environment they operate in.

Specifically, the government said that it would partner

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with any genuine local manufacturing company that wanted to boost production capacity of the nation’s automobile industry.

Minister of State for Trade and Investment, Dr. Samuel ortom, who made this remarks when he led his ministry team and members of the committee on mass trans-

portation for nigerians to a facility tour of Von Automobile nigeria Limited plant in Lagos at the weekend, said that government was ready to assist local automotive manufacturers by providing the atmosphere for their business to thrive and increase the level of employment creation within the society. ortom said that he was delighted with the proficiency and quality of work at the company’s plant, adding that the plant was of international standard.

According to him, Von Automobile nigeria Limited, local manufacturers of Ashok Leyland buses, trucks and light commercial vehicle, had demonstrated Federal Government’s confidence in

local vehicle manufacturing in the nation’s auto industry, especially with the way it had increased the plant capacity.

“I have inspected and seen what Von Automobile nigeria is doing and I am quiet impressed with the quality of work here as well as the capacity of the plant.

“What I found here is of international standard. We can now encourage people from other African countries to import from nigeria. The products are of the best quality and can be used in any part of the world,” ortom added.

The minister said that he was also encouraged by the company’s plans to expand its production lines, pointing out, “they are not just into buses, they are looking at other lines that will produce

various types of automobile vehicles.”

He commended the management of the company for the way it structured its vehicle assembly plant, especially for transforming the defunct Volkswagen of nigeria (VWon) plant within a relatively short time. ortom said that mass transit was a major part of economic development worldwide and nigeria, as a country, cannot take a back seat in achieving a robust mass transit system in her transportation sector. “nigeria can’t be an exception, hence the reason I’m here to supervise and to see your capacity, quality and quantity of what you can supply to the nigerian market.”

He reassured the management of the company of the

President’s commitment to the progress of vehicle assembly plants in the country, saying, “The president is quite committed and down-toearth about it and he is not paying lip services and that is why you have seen me here today.”

Meanwhile, the minister said that plans were underway to implement an interim policy in advance of the national Automotive policy to enable stakeholders in the transport sector have seamless access to the products and services of local automobile manufacturers.

This he said would enhance the realisation of planned efficient mass transportation and increase patronage of locally assembled vehicles in the country.

Bharti increases stake in nigeria’s unit

By Adeyemi Adepetun with Agency report HARTI Airtel Ltd. has announced buying a 13.4 per cent stake in its nigerian unit from a shareholder, as part of efforts to consolidates its position in what it described as ‘loss-making African operations.’

The purchase has increased Bharti’s holding in its Airtel networks Ltd. unit in nigeria to 79.06 per cent.

According to Wall Street Journal, which quoted a press statement from the telecommunications company’s head quarter in India at the weekend, disclosed that the company didn’t name the shareholder who sold the stake or the price it paid.

It, however, informed that a person familiar with the matter said Bharti had bought the stake from Broad Communications Ltd. He also didn’t reveal the price.

Bharti entered the African market in 2010 by buying the local operations of Mobile Telecommunications Co. in a transaction worth $10.7 billion. Broad Communications, which held about 14 per cent

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of the nigerian operations at that time, had opposed the deal because it said that it had not been consulted when Zain bought the stake.

Later, Bharti entered into an agreement with Broad Communications Chairman oba otudeko. Bharti and oba otudeko, who became the chairman of Airtel networks in nigeria, never disclosed the details of their agreement.

The statement stressed that it wasn’t immediately known if he would resign as chairman.

Bharti, India’s largest telecom company by market share, had forayed into Africa as growth slowed in its home market. However, the acquisition has been a drag on its earnings, mainly because of the interest cost on the debt it took to fund the purchase. nigeria is one of the biggest markets in Bharti’s Africa operations. At the end of December, Bharti had 23.09 million users in nigeria, accounting for more than a third of its 61.69 million subscribers in Africa.

The unit contributes about

10 per cent to the company’s consolidated profit.

Already, Econet Wireless is seeking at least $3.1 billion in damages from Bharti Airtel in a dispute over ownership of its subsidiary Airtel nigeria, according to a suit filed in 2012.

The move followed a nigerian court ruling on January 30, 2012, that Bharti

Airtel’s ownership of its subsidiary Airtel nigeria is “null and void” because cofounder and five per cent shareholder, Econet was not consulted on the transfer.

South Africa-based Econet Wireless is disputing the Indian company’s ownership of one of its top Africa operations.

Union Bank showcases products at Enugu fair nIon Bank of nigeria Plc, U the official banker of the 2013 edition of Enugu International Trade Fair, has deployed full range of banking services for customers, especially young entrepreneurs, at its stand.

The deployment of the services was coming on the hills of the recent Kaduna fair, where it won the most courteous bank award, even as it pledges to deliver worldclass services to its customers at the fair.

The bank has deployed an array of e-products, using PoS terminals, internal transfers-account to account, card transactions for bills payments and Union Mobile for commerce, as well as ATM services. others are corporate pay, Internet banking, Pay direct, Pay4me and pay outlets for cashless transactions.

It is also showcasing its Union galaxy, an e-payment platform that has e-payroll, epayment and collection platforms, which big, small companies and government ministries, departments and

agencies and distribution and service industry can deploy to seamlessly manage their payments and bills collection nationwide.

The bank explained that with over 60 companies and multinationals already connected on the product, it is urging other companies to take advantage of Union Galaxy, rated as one of the best platforms in the financial services industry.

In addition, the bank would also display Union-ever, savings/current account based products, Union future leaders account, and Union wealth and consumer credit finance loan products.

Also, small, medium and large scale farmers, agroallied companies who want soft loans to purchase seedlings for the season are encouraged to take advantage of the seamless process of documentations that would lead to loan disbursement, in addition to advisory services on imports, oil and gas, sold minerals, as well as foreign exchange transactions.

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Liberian Central Bank, HASAL MFB parley on financial inclusion strategies From Itunu Ajayi, Abuja HE Central Bank of Liberia has engaged the management of HASAL Microfinance Bank Limited, one of Nigeria’s micro finance institutions with strong operational thrust on financial inclusion, in a fact-finding parley with a view to learning from the MFB’s practical experiences in financial inclusion drive over the past years.

The Liberian apex bank team, which had earlier visited the Central Bank of Nigeria, CBN, was at HASAL Bank in company with the Nigerian apex bank’s officials as part of its initiatives targeted at gaining some insights into how the Nigerian apex bank and other financial institutions are implementing the financial inclusion strategy.

The team also intended to see how such experiences could be used to design

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appropriate framework for the implementation of financial inclusion strategy in their country’s financial services sector.

The Managing Director of HASAL MFB, Mr. Rogers Nwoke, took the delegation through core areas of the bank’s operations, including product development and marketing strategies which, he noted, had been responsible for the modest achievements recorded so far in the bank’s financial inclusion agenda.

Nwoke spoke on some of bank’s products like the Mobile Banking, which enables transactions through the use of POC (Point of Collection) terminals by HASUSU Savings Executives who carry out door-to-door cash mobilisation from micro customers.

In addition, he explained that the introduction of POS (Point of Sale) terminals to both SME and micro cus-

tomers, which enable them use their debit cards for purchase and payment for goods and services, amongst others.

According to him, the bank “has also built a large network of branches and cash

centres, across the Federal Capital Territory with several correspondent banks for easy deposit/withdrawal of cash mobilized.”

In his remarks, the leader of the LCB team, Tefleh Wollor, who obviously was

impressed by the wellinformed explanations of the HASAL Bank’s boss, said that the visit was made “to understand their roles in financial inclusion drive in Nigeria.”

Similarly, the Executive

Director/CEO Universal Empowerment Mission of Liberia, Irene Konneh George, said that she was “happy to be in Nigeria and to get information to take back home to help improve my own work.”

Paga partners biNu on payment options

By Adeyemi Adepetun AGA, a leading mobile payments company in Nigeria, has announced its partnership with biNu, a global mobile social platform dedicated to overcoming the digital divide by providing fast and low-cost access to mobile Internet services, such as Facebook, Twitter, and more than 100 other channels, to any mobile phone.

Paga explained that its service would compliment biNu’s need to provide accessible payment options to its

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members.

By integrating with the Paga platform, biNu will now provide its more than 600,000 Nigerian based users access to Paga services, including alternative payment options straight from their mobile phones.

Now biNu’s customers can buy biNu credits right from their mobile phone via SMS, mobile web, or from their PC or any Paga agent nationwide.

Paga, founded in 2009, is a home-grown money transfer service whose initial set of products are delivered to

meet critical needs of the Nigerian public: ability to transfer money fast and reliably, pay bills, top-up airtime or pay merchants safely. Paga delivers these services via the mobile phone, Internet and a growing network of over 1,600 agents nationwide.

Speaking to both companies regarding the partnership, Chief Executive Officer/Founder of Paga, Tayo Oviosu stated: “Like Paga, biNu has identified the importance of the mobile phone in providing access to services or products continu-

ally denied to the mass market in Nigeria.

“We are excited about this partnership because it brings Paga into the daily social interactions of biNu users. With biNu and Paga you do not need a fancy phone to interact with your friends or get access to content that interests you.

“Together our joint user base is over one million Nigerians – we are excited about the opportunities this presents us both to provide valuable services to the mass market.”

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THE GUARDIAN, Monday, March 18, 2013 Published in association with

InvestmentWatch Types Of Investment Fund INTRODUCTION NVESTMENT fund basically refers to a pool of funds, but our focus in this edition of INVESTMENT ONE education series is to highlight the features, types and benefits of some investment funds and how investors can use the available platform to invest in the Nigerian capital market.

Investment Funds Investment funds are investment vehicles created for the principal objective of collecting assets and resources from investors and channeling those resources and assets into a portfolio of financial instruments such as stocks, bonds and other market securities. An investment fund is a vehicle that allows a number of separate and unrelated investors, a group of individuals or companies, to make investments together.

Investment funds are often set up to offer small retail investors the chance to have their investments managed by professionals via a diversified basket of investment vehicles and instrument at an affordable cost. It also offers wealthy individuals who may for several reasons which will be discussed later; choose to deploy their investment into a fund to be managed.

By pooling their capital, investors can share costs and benefit from the advantages of investing larger amounts, including the possibility of achieving a broader diversification among a number of different assets and thus spreading their risks. There are many possible arrangements in the way an investment fund can be set up and operated, generally depending on the needs of the fund’s investors.

Features of Investment Funds • Diversification In order to reduce the risk, fund’s assets are allocated to different investment types. Fund’s assets may be distributed in investments in various securities, economic sectors, countries, regions and by other criteria, in this way reducing the influence and protecting investors from the collapse of any single class of investment or company.

• Professional management Funds have skilled and competent full-time professional managers who research and spot suitable investment opportunities. The time, effort and expertise they devote to investments far exceed those affordable to a single investor and thisensuresthattheportfolioismanagedefficiently.

• Taxes in accordance with the Personal Income Tax Law, the yield of private individuals from transactions in investment fund certificates are not subject to the individual income tax; and investment funds are not legal entities, which means that no income tax is applied on them • Cost efficiency Since funds manage a large number of investments, the trading and research costs are spread among investments.

• High liquidity Investments in investment funds (open-end funds) can be made every day, and the invested assets can be obtained within just few days, depending on the fund.

• Access to investment platform These funds offer investment platforms without requiring a lot of money to enjoy profits from dynamics of securities markets. A small investor has access to practically any securities market worldwide through making an investment in a respective fund.

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TYPES OF INVESTMENT FUNDS • Mutual Funds A mutual fund is a type of professionally managed fund consisting of stocks and/ or bond. It is also known as a collective investment scheme. Money is pooled from many investors to purchase securities.

Under the scheme, the assets of the fund are held in trust by a trustee on behalf of the investors. The assets are managed by a fund manager. Investors have a right to share in the assets of the scheme proportionate to the number of units they hold in the scheme. Mutual funds are regulated by law and available to the public.

Types of Mutual Funds - Open-end funds Open-end funds are the most common type of mutual fund and they are readily available through several investment firms in Nigeria. Most open-end funds also sell units to the public every business day on the secondary market on the Nigerian Stock Exchange (NSE); these units are also priced at net asset value. A professional investment manager oversees the portfolio, buying and selling securities as appropriate.

- Closed-end Funds Closed-end funds have been declining in popularity because investors who no longer wish to invest in the fund cannot sell their units back to the fund (as with an open- end fund). They must find another investor in the market willing to buy their units from them. The funds generally issue units to the public only once through initial public offering and they are managed by professional investment managers.

• Index Funds An index fund is made up of a collective investment scheme (usually a mutual fund, or exchange-traded fund) that aims to replicate the movements of an index of a specific financial market (i.e. Nigerian Stock Exchange’s ASI, New York Stock Exchange’s S&P 500), or a set of rules of ownership that are held constant, regardless of market conditions.

An index tracker is designed to beat market returns by holding all of the securities in the index, in the same proportions as the index. Other methods include statistically sampling the market and holding "representative" securities.

Among its prominent features, index fund is said to provide broad market exposure as it covers a comprehensive segment of the market, is simple and easier for investors to follow and understand, low operating expenses due to less transaction cost and cost of sales.

• Balanced Funds A balanced fund combines a stock component, a bond component and sometimes, a money market component in a single portfolio. The objective of these funds is to provide a balanced mixture of safety, income and capital appreciation. The strategy of balanced funds is to invest in a combination of fixed income and equities. A typical balanced fund might haveaweightingof60%equityand40%fixedincome.

The weighting might also be restricted to a specified maximum or minimum for each asset class. Several investment companies are currently offering this type of funds in Nigeria.

The fund is suitable for investors who desire to enjoy a balanced exposure of their investment to both long term growth and income producing assets, with minimal exposure to capital erosion. It is very liq-

uid, readily available and can be purchased and sold on all business days on the Nigerian Stock Exchange.

• Bond Funds Bond funds describe a type of investment that invests primarily in bonds or other types of debt securities.Dependingonitsinvestmentobjectives and policies, a bond fund may concentrate its investments in a particular type of bond or debt security such as government bonds, treasury bills, corporatebonds,Eurobonds,bankersacceptance, commercial papers or a mixture of types. The securities that bond funds hold will vary in terms of risk, return, duration, volatility and other features.

All bonds are subject to two market risks: the risk of individual default on a bond, and interest rate risk. Bond funds have no identifiable maturity date and tend to be extremely liquid. This means that a market to purchase the fund back from the investor almost always exists. Investors can purchase bond funds through banks, brokers, fund managers, or even pension and retirement plans and pay annual management fees. Bond fund are currently being offered by a few investment fund managers in the Nigerian market.

• Unit Investment Trusts Funds Unit investment trusts or UITs issue shares to the public only once, when they are created. Investors can redeem shares directly with the fund (as with an open-end fund) or they may also be able to sell their shares in the market.

Unit investment trusts do not have a professional investment manager. Their portfolio of securities is established at the creation of the UIT and does not change. UITs generally have a limited life span, established at creation.

• Exchange-Traded Funds A relatively recent innovation, ETFs combine characteristics of both closed-end funds and openend funds. Like closed-end funds, ETFs are traded throughout the day on a stock exchange at a price determined by the market. To keep the market priceclosetonetassetvalue,ETFsissueandredeem large blocks of their shares with institutional investors. The exchange traded fund is often structured as an open-end investment company. ETFs have been gaining popularity around the world and the Nigerian Stock Exchange recently launched a gold denominated ETF product in partnership with New Gold Issuer Ltd, a special purpose company registered in South Africa.

• Money Market Funds The money market consists of short-term debt instruments, mostly Treasury bills. This is a safer place to invest. The returns are low compared to other investment funds such as equity funds, but there is less risk of losing principal invested. A typical return is twice the amount you would earn in a regular checking/savings account and a little less than the average certificate of deposit (CD).

• Hedge Funds A hedge fund is an investment fund that aggressively manages portfolio of investments using advanced investment strategies such as including selling short, leverage, program trading, swaps, arbitrage, and derivatives in both domestic and international markets with the goal of generating high returns.

Hedge funds are usually used by wealthy individuals and institutions (they are not sold to the public or retail investors). Hedge funds use aggressive strategies that may be unavailable to mutual

funds. Hedge funds are exempt from many of the rules and regulations governing other mutual funds, which allows them to accomplish aggressive investing goals. They are typically open-ended, meaning that investors can invest and withdraw money at regular, specified intervals. Some offshore fund managers provide access to hedge funds.

• Equity Funds An equity fund is an open or closed-end fund that invests primarily in stocks, allowing investors to buy into the fund and thus buy a basket of stocks more easily than they could purchase on their own.

Generally, the investment objective of this class of funds is long-term capital growth with some income.

There are literally thousands of equity funds out there and each has unique characteristics.

One of the greatest advantages of equity funds is instant diversification. Also, it is usually easier and less expensive to invest in equity funds than to buy each and every stock in a fund's portfolio. Equity funds are also cheaper; they are a way to avoid the often higher transaction costs and lower liquidity associated with trading individual stocks.

Criteria for Accessing Investment Funds Managers Before entrusting your money to an investment fund manager or buying units of the funds, investors must critically analyze the following indices: - Investment objective An investor must set parameters defining what investment objective is being sought, such as; is the fund for a specific project or event? Is it for short or long term? Is it income - or safety of fund drive. By clearly defining these questions, an investor will be better guided in selecting investment funds.

- Risk appetite In view of the fact that an investor risk appetite is often dependent on age, position in life and other variablesthatarenotcommontoallindividuals, there is a need to consider in one’s risk profile when choosing investment funds. Some funds are deliberately aggressive, investing more for equities, in the hope of higher returns, but by that fact, more risky than, say, a bond funds.

- The Fund Manager Profile A thorough research on the profile of the investment fund manager is a prerequisite for any investor who desires to deal with only approved fund and licensed fund managers, and this can easily be obtained from theSecuritiesandExchangeCommission(SEC).Aback up to SEC listing is to search out fund managing companies with integrity and competence backed by good corporate governance and due process history.

- The Fund's track record It is important to benchmark the performance of a fund with other funds in the market as well review the financial statement, literature and brochure materials to have an insight on the fund’s overall performance.

- Fee Structure Because some investment funds charge more than one cost line, it is important for an investor to have all the cost lines spelt out, read and understood before committing to invest in a fund.

- Operating Modalities Investors must ask to know the details of how an investment operates so as to avert unnecessary difficulties that may arise in future.

The above list of investment funds is not exhaustive, but has been highlighted based on their availability in the Nigerian capital market. The choice therefore remains that of the investor and his ability to sift out the essential information requisite for making well informed investments decisions.

Please call or visit qualified and professional investment managers who can partner with you to help you achieve your investment goals when next you seek to invest in any segment of the market.

Join us next week Monday to learn more on how you can invest your money in safe investment instruments that can give you good returns.

Kindly let us know if you have found this article useful. Please contact us at: enquiries@investment-one.com

THE GUARDIAN, Monday, March 18, 2013

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THE GUARDIAN, Monday, March 18, 2013

26

Insurance Insurers laud regulator’s strategic initiatives to deepen penetration

By Joshua Nse HIEFTAINS of the nation’s insurance industry have commended the National Insurance Commission (NAICOM) for the measures taken to deepen market penetration and grow the industry.

Operators believe that the enforcement of ‘no premium, no cover’ on the government agencies is a credit to the commission as government will be seen to obey the law it had made.

According to practitioners, insurance industry was a strategic market contributing significantly to the long-term capital formation process and providing counterpart assurance necessary for

C

the conduct of economic activities on a smooth basis.

The Group Executive Director, Marketing and Sales, Royal Exchange Plc, Alhaji Auwalu Muktari, commended the commission for the bold step taken to expand the market through the framework of the Market Development and Restructuring Initiatives (MDRI), it is key to the development and sustenance of this industry, particularly in the retail market.

He said: “Elsewhere in the advanced markets of the western world including parts of Asia and South Africa, retail is king, accounting for a lion shares of insurance

income. Perhaps the main success factor of retail is that it is all-inclusive, challenging marketers to work harder to reach out to the critical mass, without relying on some armchair interventions to earn their income.

“Besides, income earned from retail is entirely the company’s, thereby eliminating the leakages of high third party commissions. It is often said that with retail, the company takes its destiny in its own hands.”

The market initiative is a positive development for the industry.

Also, the managing director/CEO, Staco Insurance Plc, Sakiru Oyefeso, said that NAICOM had done very well by the market

initiatives, it had opened the market to all nooks and crannies through the compulsory insurances.

“We are in full support to drive the penetration level which is below five per cent in a population of over 150 million in this country.

The Managing Director/CEO, Riskguard Africe, Remi Sholadoye, said that the biggest achievement of MDRI was the fact that the Nigerian insurance industry had a united focus. “You are very clear of where we are going, you are very clear about the milestones you want to achieve.”

He explained that before the MDRI, it was the operators that were leading the regulators. Now unlike

before, the operators were blaming the regulators, at public forum, you will hear operators complaining that if there had been serious regulator in the insurance industry,

things would not be like his. You would not hear that again. Now, the fear of the regulator is the beginning of underwriting wisdom in the business underwriting.

Premium Pension paid N42.15b to retirees

By Joshua Nse REMIUM Pension Limited (PPL) has paid N42.15 billion retirement benefits to retirees as at February 28th 2013.

A break down of the payments indicate that N33.016 billion was paid to 9,675 retirees on normal/voluntary retirement, N8.497 billion was paid to 3, 409 retirees who died, N358.14 million was paid to 1, 589 insufficient RSA balance and others.

The Managing Director/CEO, Premium Pension Limited, Mr. Wilson Ideva, addressing retirees during the company’s customer interactive forum in Lagos, said that the payments was an indication that the company had been meeting its obligations to retirees in accordance with the guidelines of the National Pension Commission (PenCom) in accordance with the Pension Reform Act. He told the retirees that the forum was mandatory on the Pension Fund Administrators PFA to enlighten the company’s clients as part of the obligations to organise a quarterly forum to ensure that retirees get their benefits as and when due.

Besides, the forum is meant to enlighten

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prospective clients, educate them to effectively plan for retirement as well as exchange views on how to improve services to retirees.

In his address, Mr. Peter Aghawa, who represented the Acting DirectorGeneral, PenCom, Mrs. Chinelo Anohu-Amazu, thanked the management of PPL for organising this customer forum. “It is heart warming to know that the company has been consistent in organising this kind of forum for its customers. I want to enjoin the retirees present today to take a good advantage of the presentations made.”

The main objectives of the pension reform for which Pencom is supervisor, he said, was to ensure that all employees received their retirement benefits as and when due, and we would continue to work tirelessly to ensure that the employees in Nigeria retired with ease.

Over the years, he said that the commission had taken various steps to ensure that safety and soundness of the pension exercise through the issuance of various regulations and rules as well as the commission in collaboration with NAICOM had also issued guidelines on annuity in pursuance of Section 4(1) of the Pension Reform Act 2004.

Niger Insurance targets N15b premium income this year ETERMINED to effectively D implement the transformation agenda through Deputy Director Inspectorate National Insurance Commission (NAICOM), Emmanuel Farinu;(left), Director Nigerian Financial Intelligence Unit (NFIU), Mrs Juliet Ibekaku and Assistant Director Inspectorate NAICOM, Sam Onyeka at the sensitization programme on Anti-Money Laundering and Combat of Financing of Terrorism Control measures for Insurance Companies in Lagos recently.

Royal Exchange to upscale service delivery and well-trained HE management of Muktari, leading top man- gy capital.

T Royal Exchange Plc has agement staff of the human He said: “We are in the reassured its customers group in an interactive good product, efficient service delivery to enhance their values.

“Besides, the culture of promptness and thoroughness, the practice of customer empathy and virtuous corporate behaviour will continue to be the main focus of our customer relationship.”

The Group Executive Director, Marketing and Sales, Alhaji Anwalu

forum with journalists in Lagos, said that in 92 years we have successfully evolved and reinvented our structures and processes such that today, we are one of the leading insurance entities in Nigeria.

According to him, our strong points remain, historical pedigree, experience, enviable claims profile, innovative technolo-

forefront to deepen insurance knowledge and are implementing several initiatives to enlighten the critical mass of Nigerians about insurance, example, sponsorship of insurance-centric programmes. Sponsorship of youth development programmes such as leadership seminar for secondary school prefects in Lagos State. Connect emotionally with our immedi-

ate community by investing in socially responsible projects such as the enhancement of Oshodi pedestrian bridge and its ancillary bus shelters.”

He said: “In realisation of a remodelled marketing work plan, the company will continue to pursue its expansion programme to ensure visible presence in all 36 states, including the FCT. We shall strive to take the broad message of trust partnership and integrity to all Nigerians, wherever they might live. “

responsive and efficient customer services, Niger Insurance Plc is targeting premium income generation of N15 billion this year.

The Managing Director/CEO of the company, Kolapo Adedeji, said during an interactive forum with journalists in Lagos that as one of the leading light in the Nigerian insurance industry, they wanted to continue to operate on sound principles based on responsive and efficient customer services.

According to him, “we are going to have a stronger company that is going to be more responsive to the needs of our customers, efficiently run and one of the leading light in the Nigerian insurance market.”

He said that if you observed in the last one year, “we

embarked on transformation of the processes, in the sense that we x-rayed the entire system processes of the company, our people and processes, with a view to revamping the company to meet the peculiar needs of our customers as well as all stakeholders in the company.

“The business model we are doing is going to be driven

by ICT platform, having got approval from National Insurance Commission on life annuity products. We are also working on our traditional products to make it more user friendly.

With the processes being put in place, we are projecting to generate a premium income of N15 billion this year.

Adedeji took over from Dr. Justus Clinton Uranta in January this year following his retirement after 35 years of meritorious service in the insurance industry.

INSURANCE

THE GUARDIAN, Monday, March 18, 2013 OLLOWING the death of its founding Chairman, Alhaji Hassan Hadejia, the Board of Directors of Leadway Assurance has announced the appointment of Mr. Umar Yahaya as chairman of the Board.

Yahaya brings a wealth of experience in management and business strategy, having served on the boards of several companies including FirstBank of Nigeria Plc. and New Africa Merchant Bank Ltd. He has been a director of Leadway Assurance since 2006. A seasoned entrepreneur and administrator, he is currently also a director on the board of Fidelity Bank Plc., First Pension Custodians and the trustees of PZ Cussons.

Yahaya holds a Master’s Degree in Business Administration from the Ahmadu Bello University,

Oasis Insurance pays N494.5m claims F ASIS Insurance Plc has disclosed that it settled N494.5m claims in various classes of insurance last year.

The company incurred claims to the tune of 576,954.95 in N494, motor, fire, marine, engineering and general accident insurance.

According its the Managing Director, Mr. Babatunde Oshadiya, the company would continue to discharge its duties to the insuring public and not relent in its singular most important culture of prompt claims settlement.

“For the year 2012, the company settled claims worth over N494million and the analysis of the claims paid shows that N110, 486,729.20 was paid in motor insurance while general accident gulped N154, 135,016.79. Under the fire class, N135, 706,209.22 was paid, while N29, 228,965.47 and N23, 747,134.41 were paid in engineering and marine insurance respectively. The company also paid N41, 272,899.86 under Aviation and Oil & Gas,” he explained.

Oshadiya asserted that Oasis Insurance would match excellent service with prompt claims settlement to meet the expectations of the insuring public and as well gain total acceptance for all the company’s products.

In a related development, the Marketing

O

Director, Mr. Olatunde Balogun, said that the company had set in motion strategies to move the company forward and record extra-ordinary success in term of profit in the coming years.

He further averred that all necessary resources would be devoted to the marketing function in its pursuit of premium growth, while not neglecting the business operations in the delivery of effective underwriting and claims management.

Balogun stressed that in the last 20 years, Oasis Insurance had successfully met up with its contrac-

tual obligations to its teeming customers and the insuring public. He added that the company was poised to remain focused on its distribution channels to meet customers’ needs innovatively and efficiently.

He, therefore, assured all stakeholders of openness, fairness, diligence and excellence service delivery at all times. “We are determined to satisfy the needs of our customers across all segments of the economy and we will continue to ensure that insurance products and services are available and affordable to everyone.”

Financial market environment’s impact on insurance investments such as EGIONAL equity mar- volatility continued havens kets developed on dif- through recent times, cre- Switzerland) to historical R lows, while the yield on ferent trajectories after having reached nearly simultaneously the financial crisis-induced nadir in October 2008.

Through April 2011, the U.S. stock market S&P 500 index and MSCI Emerging Market index recovered, almost recovering from the previous losses. Over the same period, the European market decoupled and as the sovereign debt crisis in the euro area became acute, European stocks suffered comparatively more than equity shares in other regions.

Setbacks accompanied by flare-ups in market

ating a challenging investment environment for insurers.

In 2012, market conditions worsened significantly in the second quarter, with measures of risk aversion and financial stress reverting to the levels last observed toward the end of 2011.

Sovereign bond markets were also reflective of the stress situations caused by the financial crisis. The flight to safe assets continued to drive down the yield of government bonds in the United States and Germany (but also in smaller safe

the Japanese bond continued to hover at a very low level. The safe-haven inflow to these countries led also to a sizeable appreciation of the yen, U.S. dollar und Swiss franc, but not of the euro.

Developments in the euro area were overshadowed by the sharp increase in yields of those countries for which markets had developed concerns about the pace of economic growth, the health of banks, and the sustainability of high and ever increasing public debt-to-GDP ratios.

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Leadway appoints chairman Zaria. He is also an alumnus of Harvard Business School, Boston, USA and the Stamford Graduate School of Business. He is presently the Managing Director/Chief Executive Officer of Associated Haulages (Nig.) Limited and the President of the Kaduna Chamber of Commerce and Industry.

Equally announced is the appointment of Ms. Adetola Adegbayi as an executive director in charge of General Business. Adegbayi joined Leadway Assurance 18 years ago as an assistant manager, rising to the position of general manager (Business Services and Special Risks) in 2009.

She is a legal practitioner with varied experience in legal research, corporate legal practice, insurance and financial services. She holds a Bachelor of Laws Degree of the University of Glamorgan, Wales and a Master of Laws Degree of the University of Bristol, England, graduating with distinction in Jurisprudence. She is also an associate of the Chartered Insurance Institute, London and the Chartered Institute of Arbitrators, UK. According to the Chief Executive Officer, Mr. Oye Hassan-Odukale, the transition of Alhaji Hassan Hadejia marked the end of an era.

The Shettiman Hadejia was Leadway’s first chairman from 1971 to 1993 when he became a junior minister of petroleum resources. The Company’s founder and first Managing Director, Sir. Hassan Olusola Odukale (also of blessed memory) then succeeded him as chairman from 1993 to 1999, after which Alhaji Mohammed Faruku (also of blessed mem-

ory) picked up the baton and was chairman from 1999 to 2006. Alhaji Hassan Hadejia then returned as Leadway’s chairman in 2006 and held the position until his death in November 2012.

The appointment of Yahaya as chairman and Adetola Adegbayi as executive director (General Business) reflects the dynamism within Leadway Assurance Company and its robust governance structure.

Successive management of the company (starting with Sir Hassan Olusola Odukale, transferring to Pastor Jaiyeola Oni and subsequently to Mr. Oye HassanOdukale) have embraced the vision reflective in its camel icon of being a reliable and efficient insurer, able to ride through varying periods to become one of the largest commercial insurers in Nigeria today.

The Chief Executive Officer, Mr. Oye Hassan-Odukale, also stated that appointing an executive director for General Business also reflected new directions within its Life and General Business Divisions, in order to position the company for future growth and expansion. The Life Business is now to be overseen by a General Manager, Mr. Shadrack Sivhugwana, a qualified actuary, fellow of the South African Institute of Actuaries.

Leadway’s Board of Directors is made up of eminent businessmen and seasoned professionals of proven personal integrity.

They have between them over a century of combined business experience with about half relating to insurance business.

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THE GUARDIAN, Monday, March 18, 2013

THE GUARDIAN, Monday, March 18, 2013

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Stockwatch In association with Lead Capital

Stock Market Report for the week Friday, 8th March to Thursday 14th March, 2013 N this week, the total ANNOUNCEMENT AJOR equity markets around the I30.10% volume appreciated by M globe moved upwards as their URING the period under review, forty four and value traded various indexes gained marginal (44) stocks recorded price appreciation D appreciated by 19.47%. A points. In our universe of sample equicompared to thirty one (31) that depreciated in ty markets; the NASDAQ, S & P 500 and Dow Jones gained points by 0.71%, 0.85% and 1.11% respectively at the end of last week. In Europe, The FTSE 100, German Dax and France CAC 40 all gained points by 0.84%, 0.65% and 1.65% respectively. In the Asia/Pacific region, Hangseng lost points by 0.67%, while the Nikkei 225 and BSE Sensex gained points by 3.45% and 0.81% respectively. In Brazil, the Bovespa lost point by 0.96% while Russia’s RTS INDEX gained points by 0.12%. On the local setting, NSE ASI closed at 33,207.01 recording 1.33% appreciation at the end of the week’s trading.

turnover of 2.55 billion units of shares valued at N22.40 billion was recorded, in contrast to a turnover of 1.96 billion units of shares worth N18.75 billion that was recorded in the previous week.

Volume this week was driven by activities in the shares of UNITYBNK, UBA, GUARANTY, ZENITHBANK, TRANSCORP, ACCESS, DIAMONDBANK, FIDELITYBK, FBNH and ETI.

the previous week, WAPIC was first on the top gainers chart to close with 25.21%, followed by ABCTRANS with 17.54%, ROYALEX with 12.33%, MANSARD with 12.07%, FO with 11.26% and IPWA with 10.23%. Other gainers in the top ten categories were UBA with 10.21%, NNFM with 10.21%, CCNN with 9.00% and TOTAL with 8.70%.

On the flip side, twenty nine (29) stocks depreciated in price last week compared to forty two (42) that depreciated a week ago. FIDSON led on the price losers’ table with 13.56%, followed by CILEASING by 10.14%, JOHNHOLT by 9.47%, PRESCO by 7.08%, TRANSCORP by 4.55%, NPFMCRFBK by 4.39%, CUSTODYINS by 3.86%, PRESTIGE by 3.75%, WEMABANK by 3.20% and UNITYBANK by 2.33%.

30 STOCKWATCH

THE GUARDIAN, Monday, March 18, 2013

Lead Capital Stock Valuation

COMPANY’S RESULT

CONTINUE ON PAGE 51

THE GUARDIAN, Monday, March 18, 2013

31

Homes & Property Uraga Real Estate launches N2.2b Abuja Lightwell Garden Page 33

Budgets must be based on development plans, says NITP President

Tender call underway as Lagos reviews revoked contracts Page 35

Page 45

Estate surveyors, Ezekwesili chart new course for nation’s infrastructure Professional Practice

By Chinedum Uwaegbulam, who was in Benin GROUNDSWELL of profesA sional commitment, backed by delicately crafted political support, hallmarked last week’s gathering of estate surveyors as they reviewed the nation’s infrastructure development, which offers overwhelming opportunities for economic empowerment.

The development came as members of the Nigerian Institution of Estate Surveyors and Valuers (NIESV) converged at the 43rd yearly conference in Benin, tagged Edo 2013 to analyse issues which at the moment occupy the front burner of national discourse, the theme was ‘ I n f r a s t r u c t u r e Development and Economic Empowerment.’

Though it turned out to be a familiar terrain for many of the professionals, experts within and outside the body, notably the Minister of Works, Mike Onolememen, Edo State Governor’s Chief of Staff and representative of Governor Adams Oshiomole, former Vice President of Africa, World Bank group and Minister of Education, Mrs. Oby Ezekwesili, among others were on hand to guide deliberations.

President NIESV, Mr. Emeka Eleh, broke the ice with his eulogy on the participants

Estate surveyors have picked up the gauntlet in their determination to provide platform for infrastructure development in the country.

Lack of appropriate maintenance of existing infrastructure, they say, is costing the nation immensely. and organisers, setting the goals of the conference to include providing wellrounded expositions to the many problems that hinder the development and maintenance of infrastructure and the economic empowerment of the Nigerian people.

He said that the subject of abysmal level of our infrastructure all over the country remains a major cause of concern. “Available data indicates that our infrastructural deficit runs into trillions of Naira. Addressing this deficit is very crucial to the nation’s development.

Investments in this sector has the potential to generate multiplier effects in the economy that will impact positively on our unemployment and poverty levels, productivity, prices of goods and services and even housing,” he said.

In her keynote address, Ezekwesili noted that ‘Oil Trap’ has caused failure to

Representative of President Goodluck Jonathan and Minister of Works, Mike Onolememen (left), NIESV President, Mr. Emeka Eleh and former Vice President of Africa, World Bank group, Mrs. Oby Ezekwesili at NIESV’s 43rd yearly conference in Benin, Edo State, last week. translate oil revenues to human capital and physical infrastructure, failure to industrialize/huge remaining agenda for deregulation and liberalization of sectors to expand sources of growth while corruption and ineffi-

ciency is shrinking levels of transparency and accountability.

She listed factors that have generally helped nations grow as stable political conditions, effective, efficient, transparent and account-

able public sector governance and institutions; sound economic and social policies leadership by government and private sector led economy; and public and private investment (helped by high savings rate)

especially in human development and infrastructure.

According to the Senior Economic Advisor, Open Society Foundation, infrastructure has made a net

CONTINUED ON PAGE 46

Global property investment may exceed $1trin 2013, says report Real Estate HE global property T investment market saw a modest six per cent rise in activity during 2012 with volumes reaching $929 billion, which experts believe could be the start of a return of confidence that could take volumes above US$1 trillion in 2013.

Last year was a difficult one in most markets but investment volumes rallied in the fourth quarter of 2012, signalling the beginning of real momentum, according to the latest International Investment Atlas from global property firm Cushman & Wakefield.

Volumes this year could increase by 14 per cent to

The report says that in 2012, China and the US were two key engines of the strong finish, the former benefitting from a record high in land right sales and the latter seeing a rush of activity to beat year end capital gains tax hikes. exceed the US$1 trillion mark for the first time since 2007 and that increase is likely to be led

by North America and Asian markets and driven by increased allocations to property by institutions and high net worth individuals and families plus increased stock coming to the market.

“Last year was a year of profound uncertainty in the global economy which impeded decision making and market activity. We anticipate there will be less uncertainly this year and in

fact, a true change in market confidence and indeed momentum seems to have been confirmed in the early months of 2013 as major global risk factors are seen to be receding, albeit not yet disappearing,” said Glenn Rufrano, global president and chief executive officer of Cushman & Wakefield.

The report says that in 2012, China and the US were two key engines of the strong finish, the former benefitting from a record high in land right sales and the latter seeing a rush of

activity to beat year end capital gains tax hikes.

However growth was far from limited to these two global heavyweights and a range of other markets in all regions saw a final quarter rally notably Spain, Poland, Norway, Switzerland, Indonesia, Thailand, India and Australia.

It adds that the market to date has remained selective and focussed on core product. By region, North America and Developing Asia drove the overall global rise, with mature

European and Asian markets largely flat and emerging markets in Europe, the Middle East, Africa and South America all down.

In 2012 by country, the US and Mexico were the biggest gainers in the Americas, Malaysia, Vietnam, Australia and New Zealand enjoyed the strongest growth rates in Asia, while for Europe, Finland, Norway, Switzerland and Ireland saw the highest growth.

More modest increases in big markets like China, Germany and Hong Kong were also clearly instrumental in delivering growth at the global level.

In terms of market performance the Americas saw stronger investment activi-

ty, a bigger contraction in yields and more positive rental growth. Asia was more stable with EMEA clearly taking the biggest hit from the market slowdown.

The Americas share of global trading rose to 32per cent in 2012 from 28per cent in 2011 while EMEA slipped to 21per cent from 24per cent. Asia remained the largest global trading block, accounting for 47per cent of market activity, down from 48per cent in 2011.

Among cross border players, Europe is the biggest target market, attracting 51per cent of capital, up from 45per cent in 2011. By contrast Asia speaks for

CONTINUED ON PAGE 45

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HOMES & PROPERTY

THE GUARDIAN, Monday, March 18, 2013

African govts recognizing land rights slowly, giving it away quickly, says report Land Matters HILE African governments W are moving gradually towards protecting the land rights of rural people and indigenous communities, they are moving quickly to give away community forests and other lands for development.

These conflicting choices are the focus of two new reports and a regional dialogue on forests, governance, and climate change.

“Governments across West and Central Africa are now in a bind and divided, with some ministries choosing to hand over natural resources to agribusiness and mining, and others seeking to protect the rights of their citizens and respect recent commitments,” said Andy White, Coordinator of Rights and Resources Initiative (RRI). “Which view will win out? There is a true need for speed in safeguarding these communities before all available land is handed out for the sake of ‘quick-fix’ development and exploitation.”

“What communities on the ground in Cameroon see is no different from what is unfolding in other neighboring countries,” said Secretary General of the Center for Environment and Development (CED), Cameroon, Samuel Nguiffo.

“The slow pace of good intentions—the efforts to protect communities of subsistence farmers who have no wealth except for the land that they cultivate—has been overtaken by greed and power. Real economic development brings wealth to all, not just the elite.”

RRI released two reports scrutinizing land transactions in West and Central Africa as well as the legal reforms that would

Africa remains a target for land-grab developments worth billions; and in nearly all countries examined, local communities receiving little to no compensation in these transactions faced some form of coercion or political pressure, triggering ardent protests and violent clashes. protect the communities whose land is targeted by these transactions. The reports were the focus of discussion at a regional dialogue hosted by the Cameroonian Ministry of Forests and Fauna (MINFOF), RRI, International Union for Conservation of Nature (IUCN), and the Commission for Central African Forests (COMIFAC) in Yaoundé. The conference also highlighted the number of commitments made by national governments and confirmed by the African Union Declaration on Land Issues and Challenges*** in 2009 that were never enacted.

At the conference, attendees deliberated on stalled progress in land rights. Two examples emerged from their discussions that illustrate a trend—for every bit of progress, additional measures undercut the momentum for change: In Liberia, the Community Rights Law (CRL) of 2009 was lauded as a major innovation for the region because it recognized customary ownership of land. The country’s Land Commission is seeking to further codify these rights. But large-scale developments have been negotiated or are planned for nearly three quarters of the country, rendering these rights moot before they are permanently established.

In Cameroon, a new forestry law currently being finalized strengthens and expands community forest rights, but maintains regulations and taxes that discourage the development of

small forest-based enterprises run by local communities, preventing communities from profiting off of the resources they maintain. The government is also revising the Land Law of 1974, providing a new opportunity to improve community land rights. However, if done without consulting local peoples, this revision can increase risk, conflict and uncertainty given that billions of dollars in foreign direct investment are destined for mining and agriculture in Cameroon by 2 0 1 5 .

“Across Africa, weak governance and a lack of legal recognition and support for customary rights are inhibiting any real progress,” said Michael Richards, a natural resources economist and author of the report examining 18 large-scale African land acquisitions in the agriculture sector. “Most cases revealed a lack of consultation with and consent by communities in affected areas; coercion or political pressure; protests, which were sometimes violent; community dissatisfaction or anger; misleading or falsified documents; legality doubts; and low transparency. If a free, prior, and informed consent process had been followed, it seems probable that in 17 out of the 18 cases I looked at, the communities would not have given their consent.”

The conference in Yaoundé

comes as government-led, large-scale land transactions across Africa continue to disregard or override the rights of communities that live on the impacted lands. This in turn leads to even greater unrest and strife on the continent. In Liberia, for example, Sime Darby (the world’s largest palm oil producer) suspended the development in 2012 of a planned 220,000 hectare oil palm and rubber plantation because the communities that lost their land protested; the company’s ensuing pushback triggered local unrest and riots.

Although the acquisitions vary in size and purpose, a number of crosscutting themes showed up in Richard’s analysis: In nearly all countries examined, local communities receiving little to no compensation in these transactions faced some form of coercion or political pressure, triggering ardent protests and violent clashes.

Women failed to prosper in transactions that took away access to community lands.

Income from fruit trees in Ghana and Mali disappeared, sources of firewood and medicinal plants in Zambia and Mozambique vanished, and land rights were lost without compensation in Sierra Leone.

High levels of water pollution and the nearly unlimited water extraction rights often granted to these concessions jeopardized downstream

livelihoods in Cameroon, Mali, Mozambique, and Sierra Leone.

“So much human tragedy could be averted if land rights in Africa didn’t erode so soon after they are established,” said Phil René Oyono, independent expert and author of the second RRI report. “The fact that 13 of 26 countries in the region have undertaken some level of reform since 2009 is great, but the challenges that African governments face are steep and progress is slow. In Gabon, for example, the new land law passed in 2012 revises the structure of land tenure rights mainly to provide a more flexible regime for commercial transactions on the land. We must convince governments that they will not find success in this quest for development by turning over their natural resources for plunder.”

“Yes, there has been a surge of new laws and reform processes since 2009,” added Samuel Nguiffo, “but these efforts are too slow and do not meet the challenges presented by rapid development and exploitation in the extractive sector. Africans will not sit idly by as our future is handed over to the highest bidder.”

Often times, projects intended for economic development meet with violent resistance and disastrous consequences: In Cameroon, foreign investors are using coercion to initiate the conversion of two 60-70,000 hectare concessions from mostly forested land to oil palm plantations.

Thousand have been displaced and drinking water sources have been polluted.

Murder, rape, and the

destruction of tombs and houses plague communities opposed to one project. The second faced legality concerns involving a restraining order against the investor and a delayed environmental impact assessment.

In Ghana, a project converting forest and crop land into jatropha (a plant used to make biodiesel) plantations resulted in harsh migrantnative farmer conflicts over lost jobs and income, along with the clearing of 780 hectares. US and Ghanaian investors leading another project used political pressure to turn farm and fruit land into rice plantations, resulting in legal action, the displacement of many locals, water pollution, over-grazing, and erosion.

In Rwanda, a Ugandan sugar company converted 3,150 hectares of swampland used for food and cash crops into sugar cane fields—despite claiming it would not do so when acquiring the land.

Defense forces were brought in as thousands of locals who were pushed into low-paying jobs as a result responded with violence and arson.

“Handing land over to these companies has been justified by local and national governments as attempts to bring economic development to all corners of Africa,” said Andy White. “But you cannot sweep away established communities and transform the environment without calamitous collateral damage. This is not development. Until the pace of land rights reform gets in front of the pace of development, Africa will never get out from under the ‘resource curse.’”

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Prime Estates Uraga Real Estate launches N2.2b Abuja Lightwell Garden Housing

By Chinedum Uwaegbulam ETERMINED to achieve its dream of expanding the frontiers of property development in the country, Messrs Uraga Real Estate Limited, one Nigeria’s frontline estate firms has unveiled its latest residential scheme in the Federal Capital Territory targeted at the middle and the upper income groups in the society.

The firm, a wholly owned subsidiary of the Honeywell Group Limited launched construction of its choice apartments known as Lightwell Garden Estate, located in Utako district within the Phase II development plan, recently. The land measuring about 1.7 hectares will cater for 55 residential units, comprising flats and terrace houses with ample car parking space and appealing landscape. The uniqueness of Lightwell Garden, estimated to gulp N2.2 billion is in its location and architecture.

The Lightwell Garden Estate, comprises two, three and four bedroom flats and terrace houses, enumerated as follows: eight units of 2bedroom flats; 32 units of 3bedroom flats and 15 units

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of 4-bedroom terrace houses, with all bedrooms ensuite. There is a commercial block, which serves the estate, where groceries, confectionery or household daily-needs can be bought, a beautiful gatehouse/reception and a service building.

For ease of identification, the promoters have named the houses, all associated with light. The two-bedroom is called The Corona.

There are two types of 3-bedroom apartments, named Stellar and Solar and the 4bedroom called Aurora.

Within the estate, facilities include Gym, Club House, swimming pool, dedicated transformer, borehole, water treatment plant, 1,00KVA stand-by generator, CCTV surveillance, children’s play area, and ample car parking space.

Already three indigenous building and civil engineering companies have been picked for the building works and infrastructure.

They are Oat Construction Nigeria Limited, Damadeb Nigeria Limited and NEV Construction and Precise Engineering Limited.

In addition to the in-house team, consultants on the development team are AB.DT Partnership (archi-

CONTINUED ON PAGE 43

Illustration of the proposed Lightwell Garden Estate, Abuja

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Tender call underway as Lagos reviews revoked contracts Projects

By Tunde Alao HREE months after the Lagos State authorities revoked contracts in different locations, fresh tender call may be underway for building and civil engineering firms to bid for the completion of the projects.

The projects are New Epe Magistrate/High Court complex project, located at Oke Oyinbo, Epe Township, the Airport-Adisa Ajibulu Street road construction in Mafoloku, Oshodi Local Government Area, road projects in Obafemi Awolowo Way, in Ikorodu Local Government Area and another road project in Badagry.

Governor Babatunde Fashola during his statewide project tour early in the year had issued revocation order in some of the sites as a result of what he described as “shoddy job performance” and unnecessary delays, among other allegations.

The Guardian learnt that efforts are on to re-award contract for these projects.

Officials revealed that the delay in re-awarding of the contracts may not be unconnected with “contract clauses in the projects”.

“What the public should realize is that before the government enter any contract, there are agreed positions.

Currently, government is still assessing the extent of job already done to determine whether these contractors need to refund money, or whether we need to reimburse them.

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The State Government has moved to re-award contracts revoked recently in Oshodi, Epe, Ikorodu and Badagry axis. The authorities have also assured residents of completing the projects while weighing legal implications and obligations to the contractors. “ Because it is possible, they might have performed beyond mobilization fees they had received. So, it is a two-way matter. Either they need to refund certain amount back to government or government needs to reimburse them. All this need to be reviewed”, said the source, who spoke under condition of anonymity.

One of the representatives of the affected contractors, confirmed to The Guardian that his firm is said to be indebted to the government.

He said: “They have been harassing us that we need to refund certain amount.

Indeed, a reminder letter has just being sent to us recently.

But we would appreciate if government could allow renegotiation of the contract.

We are now in a better position to complete the job.”

It would be recalled that out of six similar Court complex projects spread across the six Old Division of Lagos, that included Epe, Ikeja, Ikorodu, Lagos Island and Mainland and Badagry, four have completed, while Ikorodu’s is nearing completion stage, with Epe being far from completion.

When Fashola visited the site, he said: “At the combined Magistrates and High Courts in Epe, you will see that we have a project that we should have really finished, so the contractor has not done him-

self any good. We will have to review and decide how to approach the project so that we can conclude it.”

During his tour of Ikorodu project sites, the Governor, who meet aggrieved residents that trooped out to complain about the “shoddy manner” the construction was being handled, could not hide his disappointment.

According to the residents, the road reconstruction had been going on for over 35 months.

They welcomed the Governor to the area with placards with inscriptions such as ‘Road abandoned for 35months, ‘Governor Please Save Us, ‘Our children are afflicted with Asthma’ and so on, lamented how dust on the road had seriously affected their health.

Fashola explained that the government awarded the project because it recognised the need to improve the road in the area.

He said, “There is no need for anyone to be angry, the fact that we awarded the contract is because we want to make things better. This project will henceforth be re-awarded to a more competent contractor that will do a better job. These are some of the challenges that come with giving local contractor opportunities, but we are not happy with the service and we will change the contractor”.

One of the uncompleted projects in Epe Council, Lagos

Jigawa highbrow layout to cost extra N1.2 billion Contracts From John Akubo, Dutse N a bid to elevate the livIdents, ing standards of its resiJigawa state govern-

Financial Controller, Propertymart Real Estate investment Limited, Mr Lasisi Morufu (left); Chairman, Federal Mortgage Bank of Nigeria (FMBN), Chief Bisi Ogunjobi; and Managing Director, Propertymart Real Estate Investment Limited, Mr Adeyinka Adesope, at the Inauguration of the Board of Directors of the FMBN recently, in Abuja.

Harvard training for architects, others Professional Practice REPARATIONS are in top P gear for a three-day training programme for architects, real estate developers and other professionals in Lagos.

In a statement issued by Niche PR’s Senior Manager and Coordinator of the programme, Joy Kenneth – Ero, said the resource person, Andreas Geogoulias of Harvard University School of Design will be discussing with chief executives and senior architects and devel-

opers the dynamics of the business side of the building industry with focus on real estate income generation potentials for a growing economy such as Nigeria’s. T The training programme which will hold at Four Points, by Sheraton Hotel, Oniru, Lekki, Lagos from the 20th to 22nd of March 2013, has attracted participation of diverse groups in the built environment sector including Architects, Town Planners, Engineers, Estate Surveyors & Valuers and Mortgage Institutions.

According to Mrs Kenneth –Ero, we have also invited other industry stakeholders including Mr Gimba Ya’u Kumo, Managing Director of Federal Mortgage Bank of Nigeria and Arc. Terver Gemade, Managing Director of Federal Housing Authority to make presentations at some of the sessions.

Ms Amal Pepple, the Minister of Lands, Housing & Urban Development has been invited to address the participants at the programme.

This programme has gen-

erated sponsorship interests with Delta Airlines providing the lead instructor’s ticket and the New Towns Development Authority (NTDA).

We also have 3INVEST on board as the media partner.

Niche PR, a Lagos- based Public Relations Company in the last years has provided local and international platforms for institutions and corporate organizations to position their brands through networking, joint venture partnerships and global networking.

ment has awarded an extra N1.2 billion contract for additional construction of a new highbrow layout in Dutse.

The new contract, which comes sequel to the contract, granted to back in 2011 brings to N5.73 billion the total cost of the contract.

The Commissioner of Information, Youth and Culture, Alhaji Babandi Ibrahim Gumel who made the disclosure at the end of the first state executive council meeting said the additional cost will be used for street lighting, plumbing and water works.

Babandi said N545 million has been set aside for additional external work at the new state secretariat adding that the revised cost of the contract now stands at N1.4 billion.

The commissioner indicated that N212million was earmarked for additional external work at the State High Court bringing the revised cost to N811 million.

The Commissioner also told Journalists that interior furnishing of the State High Court would cost N498 million.

He said N1.4 billion was approved by council for the

Sule Lamido construction and rehabilitation of township roads across the state.

Ibrahim explained that the council set aside N237.6 million for the rehabilitation of Jahun-Gujungu road project while RingimChaichai road would gulp N299 million.

He said that the sum of N150.2 million was earmarked for the rehabilitation of Dangoli-Kiyawa road and N84.7 million would be spent on Karnaya-Chaichai road.

The commissioner also disclosed that about N453 million would be used to construct Kijawa-Dabi 4.5 kilometers road project.

Ibrahim noted that all the road projects were awarded to indigenous companies.

He stated that when the projects are completed, they would boost economic activities in the State.

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Town planners bemoan decline in ethical standards Professional Practice

By Tosin Fodeke PPALLED by the falling stanA dards in its practice, town planners have charged members to adhere strictly to the ethics of the profession so as to make human settlements functional, safe and healthy.

National President, Nigeria Institute of Town Planners (NITP), Mr. Steve Onu while speaking at the annual workshop of organised by the Association of Town Planning Consultants of Nigeria (ATOPCON) in Lagos, stressed that the body was disturbed by reported cases of unethical practices carried out by fellow members of the profession.

He emphasised that the situation were a town planner copies verbatim the contents of an Environmental Impact Assessment Report done by another member was disturbing.

“The need to enforce discipline which is the under pinned factor as far as the core ethical issues are concerned cannot be over emphasised.

Situations whereby some professionals engage in some unwholesome activities to short-change their colleagues in their quest to make end meet are some of the serious ethical issues that this association seeks to address” Stated Onu. Onu who underlined that present administration’s efforts at tackling the nefarious acts stated that the workshop sought to address core ethical issues affecting the practice of town planning and enhancing participants’ skills in building effective business and corporate ethical behaviour.

Earlier, ATOPCON President, Mr. Toyin Ayinde, said it was important for members to continuously improve their skills and be at the cutting edge of practice.

“One of the objectives of the annual workshop is to provide a forum for X-raying the profession of urban and regional planning; particularly with regards to making improvements in the socio-economic well-being of man, who should be at the centre point of all physical planning efforts,” he said.

Ayinde who doubles as the Lagos State Commissioner for Physical Planning and Urban Development, said he was fully aware of the high level of corruption in the society and its implication on the way the professional town planner carried out his work.

“Our focus in this year’s workshop is to expose practitioners to critical emerging challenges facing the practice of town planning,” he said.

The key areas examined at the two-day workshop tagged, ‘Emerging challenges in public and private sectors practice’, included business ethics, communication management, relationship management and contract administration.

Ayinde said he believed the most realistic way to keep the consultant and public sector town planner afloat was by ensuring that they both kept to the dictates of the code of conduct and practice regulations of the profession.

He said that as a professional organisation, ATOPCON intended to seek the support of more stakeholders in its quest to make human settlements in all parts of Nigeria functional, safe and healthy.

In his presentation on the topic, ‘Ethics and Dynamics of professional practice for town

Town Planners have been told to uphold integrity of the profession and reclaim their pride of place in the country, through building effective business and corporate ethical behaviour planning professionals’, former President, Nigerian Institute of Town Planners, Alhaji Waheed Kadiri, outlined ways to tackle some of the challenges.

He said consultancy firms should be more conscious of the business side of practice, keep records while respecting laws and regulations.

Kadiri also urged consultants to continually improve their knowledge of emerging areas of interest, regulations and laws.

A cross section of town planners at the annual workshop organised by Association of Town Planning Consultants of Nigeria (ATOPCON) in Lagos...recently

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India, China, others set to drive real estate growth in next decade Real Estate NDIA, China, Asia Pacific, South and Central America, Middle East and Africa and parts of East Europe are set to see the most dynamic growth for construction in 2013, according to the Royal Institution of Chartered Surveyors (RICS).

China, India and Brazil are likely to drive in the highest real estate growth over the next decade, its latest insight report shows.

‘In these countries, the opportunities for infrastructure development and construction will be driven by increasing purchasing power, labour mobility, demands for higher living standards and major upgrades in transport systems, utilities and buildings,’ it points out.

“China will be the world’s leading construction market by 2018. However, the construction growth rate will be higher in India. It is expected to touch the double digit in both the residential and non-residential markets on the short term basis,” it adds.

This is happening because emerging markets are expected to grow by a110per cent to become a $7 trillion market, representing a massive 17.2per cent of GDP in 2020. Conversely, developed countries will only grow by 35per cent from $4.2 trillion today to an estimated $5.7 trillion market by 2020.

The report also points out that fiscal deficits in developed countries have constrained government spending and that along with austerity measures, rising raw material prices, a lack of availability of finance and weak consumer spending will keep them in the doldrums.

However, RICS says that signs of recovery give reasons to be optimistic.

‘Increased availability of capital and resurgence in manufacturing has already led to recovery in the commercial realty market worldwide.

Investments in transportation, education facilities, highways, healthcare facilities, hotels and hospitality, government offices will further accentuate the construction growth,’ the report explains.

“But, fiscal deficits and reduced government spending will continue to hold back construction growth in some of the developed countries,” it adds.

RICS also points out that India is set to become the world’s fastest growing economy and likely to be the world’s third largest economy by 2030. India is home to 17per cent of the global population, but covers only 2.4per cent of the world’s geographical area.

Also 50per cent of India’s population is below 25 years old now, and the median age by 2030 will be 31, far below China’s 42 and

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Japan’s 52. A four fold increase is expected in per capita income in India by 2030.

Indian cities will generate 70per cent of the net new jobs created by 2030 and produce more than 70per cent of the country’s GDP and 56 Indian companies are on the Fortune 2,000 list, and three of the world’s top 10 outsourcing companies are from India.

India also ranks third in terms of attractiveness as a destination for Foreign Development Investment and investment of US$ 1.2 trillion is required over next 20 years to modernise urban infrastructure in India.

Africa real estate market...a major attraction to foreign investors

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THE GUARDIAN, Monday, February 11, 2013

Firm kick-starts Abuja Lightwell Garden estate CONTINUED FROM PAGE 33 tects), led by the former president of the Nigerian Institute of Architects, Tunji Bolu. Viadeux Limited (Structural Engineering), 2ESSEngineering Limited (M&E) while Costworth Associates quantity surveyors).

Over the years, the company has been involved in residential housing development in Nigeria, particularly in Abuja where we have developed various real estate products, for example, the Regent Estate and Princess Terraces Apartments both located in the Wise II area. We are also involved in commercial and hospitality real estate and the world-class Radisson Blu Anchorage Hotel in Victoria Island, Lagos, a distinct place of hospitality in Nigeria is one of our contributions to this space.

The Director, Facilities and Property Management, Uraga Real Estate Limited, Mr. Kunle Fashogbon said, “We have a development programme of 18-24 months. We have mobilized to site and all things being equal, we expect that we should begin to hand over keys to the completed houses to the owners in another 18months.

One of the main reasons for the non-completion of most of the developments in Abuja is improper and/or inadequate planning. “For us, we have taken our time

to plan this development properly, putting together a good team and funding plan.

“Lightwell Garden Estate is top grade and has distinct quality, our promise to our prospective buyers. We are going to make sure that it comes out top in terms of quality finishing and management of facilities. Our pricing is moderate, realistic and fair from our market enquiries. The location of the Estate itself is a key factor as it is not too far from the city centre, about 10minutes’ drive.

“With a contribution of at least 20 per cent of the purchase price our mortgage partners, meeting their conditions, are ready to provide mortgage facilities to interested buyers into Lightwell Garden Estate,” Fashogbon said.

He continued. “Our targets are the middle and upper income class of the society.

For a young manager or business executive for instance, there is a 2-bedroom flat. For more matured people, families etc, there is a 3-bedroom flat and for the upper class, there is the 4-bedroom terrace house. We have been able to plan this development to cut across all income streams.

“We have already signed off partnerships with two of the leading mortgage institutions -FBN Mortgage and Aso Savings and Loans Plc. Funding is very essential in

real estate development and we have given it great attention. We have put in place a plan that will provide liquidity for the project throughout the construction stage. Our relationship with our principal, Honeywell Group, gives us assurance and guarantee of availability of funds.

“Also, the fact that we have made opportunities for subscribers to make installmental payments over time shows that once they show commitment, they are guaranteed that as they make payments, the funds will go into the project. With these three major sources of funding assured, we are very optimistic that we will not have any issues of lack of fund for this project throughout the execution period.”

His words: “A global C-of-O that covers the entire property and the developers are ready to sign off a deed of assignment for each of the buyers. Top grade finishing, quality and beautiful tiles on all floors and walls; top grade sanitary wares as well as electrical wares for the finishing and good and unique woodwork are the minimum standards we have set for ourselves on this project. Quality is going to be a watchword on our mind. We are getting the service of a qualified builder specifically dedicated to ensuring quality finish is adhered to on this project.”

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PropertyInterview Budgets must be based on development plans, says NITP president In 1975, MR. STEVE IFEANYICHUKWU ONU entered Yaba College of Technology and two years later, bagged a diploma in Town Planning. He later took up employment with Imo State Civil Service as an Assistant Town Planning Officer. Subsequently, he traveled abroad and earned a Bachelor of Science as well as a Master of Urban and Regional Planning degrees from the University of District Columbia.

On his return to Nigeria in 1983, he was reabsorbed into the State Civil Service and retired as a Permanent Secretary in the Ministry of Lands, Survey and Urban Planning. In this interview with Assistant Housing and Environment Editor, CHINEDUM UWAEGBULAM, the 20th President, Nigerian Institute of Town Planners (NITP) speaks on issues relating to the new urban development policy, scale of fees and shortage of town planners in ministries and development planning authorities. Excerpts:

Professional Practice uite recently, precisely January 18, you Q became the 20th National President of your institute. Which new programmes or reforms are your bringing on board?

One, I want to get our town planners to engage themselves in research, and conduct research in various aspects of human settlements, and transportation, which will enable our planners to build that level of consciousness within them. To see how solutions can be proffered, on problems identified in the course of the research.

Two, to engage governments, have a synergy with federal and states on matters concerning human settlements and urban developments. For instance, under urban renewal, which is improving living conditions of people in run-down areas, there must be research to unravel the number of slum settlements in the country, providing indices such as locations, infrastructure and population. We cannot say 60 per cent of Nigerians live in slums, where are they?

Most of the layouts we prepare for our cities today, the plot sizes and cost of land are not meant for such citizens. We must think of escape mechanism for such people and accommodate their interests.

In Abuja today, you find so many housing estates, springing up here and there. Who are they building for? Who told them those are the kind of houses people need? Why are those houses vacant? Because there was no study conducted to find out the housing needs of the residents. Abuja is an institutional city and its economy is based on civil servants. You can’t say the private sector should drive housing supply in Nigeria, where the poverty level is very high. What the private sector will produce will not be for those in need of housing. Government must be involved in housing development and supply.

They tell us, we have a housing deficit of 17 million, how did they know that if we produce 17 million houses today, every Nigerian would be accommodated. It’s not like South Africa, where they have a deficit of 1.1 million houses. Have we studied how they are building for the citizenry? In Singapore, the town planners found out that 80 per cent of Singaporean lives in public housing, 95per cent in owner-occupier. Their housing development board is constantly building houses and has a record of their population for next year. They build for people of a particular income level and if you are above that income group, you have to get houses from the private developer, and ofcourse there, you cannot own more than one house.

Nigerian Institute of Town Planners (NITP) has been in existence for several decades to create communities, accommodate growth, or revitalize physical facilities in towns, cities, and metropolitan areas. Can you assess your institute’s contribution in management of the physical spaces and the environment in Nigeria under the Urban and Regional Planning law?

In the first place, what is town planning all about? It is about orderly management of human settlement. The lull in the profession is not as a result of town planners not knowing what to do but it is in governments not understanding their role in orderly planning, development and management of human settlement.

In most States, citizens query the essence of having town planners in the employment of government, when they have done little in arresting haphazard developments in urban and semi urban areas. For instance, some of the states still do not have master plans to guide their developments?

We have been crying over the years, urging governments to prepare master plans to guide developments in these states. Most of the states we have in the country are the creation of the Federal Government, and when they were created, Federal Government gave some of them take off grants. And as we have it, there is no instrument in this country making it mandatory for physical development plans to take place. The master plan is not something you wake up and ask a town planner in a private or public practice to go ahead to prepare for a community or for a state.

What we are talking about is development guides, orderly development of a community, town or city. Its not what a town planner wakes up and does. Government must be interested in ensuring that the territory under its control is well planned and well ordered. The settlements that have been identified, either as a state capital or local government need to be planned and must be seen to take place in accordance with the development guide.

I am happy about the propositions in thenew National Housing, Urban and Regional Planning Policy, which was prepared and released last year by the present Minister of Housing, Land and Urban Development, Ms Amal Pepple. The the policy is very far reaching. But just like any other policy statement, if there are no programmes to implement those policy statements, we are wasting our time.

Was NITP consulted during the fashioning of the new policy and do you think this policy will be a solution to Nigeria’s woes in urban planning?

Yes of course, at different times, inputs were called for and we did make some propositions to the committee.

In other words, the new policy will help to achieve sustainable development. Can you enumerate some aspects of the law that are crucial in development planning?

First and foremost, it stipulates for the creation of regional development plans.

Regional Development plan is about poverty reduction and employment generation.

It talks about distribution of activities. There is provision in that policy urging all tiers of government to prepare master plans, and after preparing master plans, you prepare layout plans for sustainable development. What has happened over the years is that development within the country, apart from few cities like Port Harcourt,

NITP President, Steve Onu

Onu Kaduna, Lagos, Owerri and Abuja which have master plans, have not been coordinate d .

There are some towns and cities, where there is a master plan but it is not implemented.

Why sir?

It is because of political instability in the country. A government starts a programme, completes it and another government

comes, would not look at what has happened. For instance, during the second Republic in Imo State, the government then completed master plans for 33 identified district authorities. That master plan was prepared as a guide for development of 21 local governments headquarters and 33 district authorities. Those of us in the ministry then used those master plans for people who

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Estate surveyors, Ezekwesili chart new infrastructure course CONTINUED FROM PAGE 31 contribution of about 1 per cent to Nigeria’s improved per capita growth performance in recent years, raising the country’s infrastructure endowment to that of the region’s middle-income countries (e.g. Mauritius) could increase annual growth by about 4 per cent, extremely unreliable supply results in a social costs conservatively estimated at 3.7 percent of gross domestic product (GDP), poverty rate of Coastal States are typically under 40 per cent but rise above 70 per cent in many parts of central Nigeria and particularly in the far north.

Statistics released show that Nigeria requires sustained expenditure of almost $14.2 billion per year over the next decade, or about 12 per cent of GDP. (China spent about 15 per

cent of GDP on just infrastructure investment in the mid-2000s.) About $10.5 billion is needed for federal infrastructure alone especially power. Nigeria currently spends about $5.9 billion per year on federal infrastructure, equivalent to about 5 per cent of GDP. Ezekwesili’s building blocks for accelerating infrastructure development include sound macroeconomic policies to enhance stability and reduce uncertainty of price levels, a National Integrated Infrastructure Strategic Planning Model with effective legal and regulatory frameworks clarifying rules, roles, incentives and such like for government and private sector especially PPP legislation and framework.

Others are effective public finance management sys-

tem especially, budgetary allocation and public investment program with adequate emphasis on operations and maintenance; effective cost-benefit and social impact project selection process; transparent and value for money centered public procurement system and capable institutional and human resources for timely and results oriented execution of projects.

Dr. Bolarinde Patunola –Ajayi, NIESV second vice president, canvassed for a public –private partnership for the attaining of infrastructure development in basic sector to alleviate poverty and create employment. He also sought for strategies such as radical shift in political behaviour, good governance and public protection from exploitation by companies.

New world cities offer cost- effective property solutions Real Estate ONG Kong is the most H expensive world class city in which to locate a business, with London in second place and New York a close third, according to new analysis from international real estate advisor Savills recently.

The total real estate cost of setting up business in all three cities is now almost three times that in more competitively priced world class capitals such as Shanghai and Mumbai. Sydney now stands out as especially good value and looks set to take advantage of expanding Pacific Rim investment.

Previewing its latest World Cities Review which will be published on March 20, Savills has ranked the top 10 world class cities using a measure of competitiveness based on the total cost of real estate space, both residential and commercial, to accommodate core financial and creative sector

business teams. The analysis includes headline rents and all associated taxes and charges which are often overlooked and can add as much as 53per cent to the base office rental cost.

The total annual real estate cost for Hong Kong is £1,074,000, for London £973,000 and for New York it is £949,000. These top three cities are followed by Paris at £869,000, Tokyo at £782,000, Singapore at £675,000, Sydney at £602,000, Moscow at £590,000, Shanghai at £371,000 and Mumbai at £318,000.

“In the intensely competitive global market for top talent, the cost, quality and desirability of a city lifestyle is an important unit of currency,’ said Yolande Barnes, director of Savills world research. ”Business location choices sometimes have as much to do with where the chief executive officer wants to live as economic considerations, but the

cost of residential and commercial accommodation for an international business team can have a significant impact on the bottom line.

Our analysis shows the importance of looking beyond headline rents, or assuming that commercial and residential rents work in tandem,” she explained.

“A location’s competitive pricing is by no means the only part played in its success as quality of life and business competitiveness will be key factors too but the whole cost sum, and particularly the quality of business premises in a location can have an important impact on the human capital that is such an key part of the knowledge economy. Shanghai, Sydney and Singapore all have among the cheapest total costs of the ten world cities studied but each offers different competitive and business environments. Given their location within or close to the new world centres of wealth generation, they should be well placed for inward investment from both financial and creative sector businesses,”she added.

Looking forward, Sydney now stands out as offering particularly good value, though it has shown the greatest five year growth with total accommodation costs rising by around 14per cent.

Australia’s new Significant Investment Visa is attracting a significant number of inquiries from Asia, both for residential and commercial investment opportunities, with budgets ranging from AUD5 million to AUD300 million.

The report suggests that the main obstacle to Sydney’s growth as a world city has been the restrictions on foreign purchasers buying homes. This new visa pathway for migrant investors, requiring the applicant to invest AUD$5 million into complying investments for a minimum of four years before being eligible to apply for a permanent visa, may change this. Its purpose is to attract investors and may well mean that Sydney’s real estate values outperform many other world cities over coming years.

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NITP boss tasks govt on development plans CONTINUED FROM PAGE 45 want to carry out developments. We prepared layout plans based on the master plan. But if you prepare a layout and its not implemented, you have not done anything. So, all the governments that came after that never bothered to ask what do we do? You elect a local government chairman, they do what is best for them, without recourse to the master plan. The master plan and a layout for the local government headquarters is to guide the opening of these settlements, provide electricity, water and good roads. These master plans, which are for a 25-year period, if implemented strictly, would have changed the face of these communities .

Has your professional organisation gone a step further, by reminding some of these state governments on the need to adhere strictly to their master plan or initiate master plans to guide their development activities?

Ofcourse, in the first place, if we plan regional development plans or master plan and it’s not funded. What do we do? This has to do with our budgetary process. The budget prepared in this

country, must be based on development plans and should be a multi-year budgetary system. If a project supposed to last for two years, and captured this year, one should expect that the total project cost should be built into the budget and if it’s going to be implemented under two or three years, appropriation should be made annually for the project, including inflation to take care of it.

But we have a yearly budget system, where items captured this year, first, may not be released this year, and next year, if there is instability or another government comes, they will prepare another budget, put aside the one earlier approved.

Then what happens, there is no development, no implementation? No matter how many plans you make in this country, if those plans are not implemented, you are wasting your time and that is the bane of our system.

Town planners on several occasions have complained about their marginalisation in the rendering of professional services, and members of the Association of Town Planning Consultants of Nigeria initiated moves

for the review of the scale of fees. What has happened in that regard?

We have set up a committee to look into our scale of fees and waiting for their propositions. In fact, last week, I got a mail from Nigerian Society of Engineers complaining that professionals in the built environment industry are the least paid in the country, and calling on all of us, to have a discussion on how to remedy the situation. Scale of fees is a thorny issue, but we would not because of scale of fees, stop rendering services to our people.

But is it true, your profession is the least paid in the built environment sector?

Yes. We create jobs and other professionals’ milk it. For instance, if I prepare a layout showing an area where people are going to live, we create the plots, roads, public open spaces, my contemporary the surveyor will put the beacons to identify the plots, architect designs the building, the builder is invited to build, engineer builds the roads based on my design and estate surveyor is then invited to sell or rent the property. We are the base in the housing industry; we

create wealth for other people, but we are saying, let us find how we can raise the cost of our services.

Lastly, we noticed that town planners have veered into Environmental Impact Analysis, when did this happen and what is it all about for your profession?

There are two aspects of this; there is Environmental Impact Analysis (EIA) report, which town planners do. The EIA will throw open to you, the soil texture, which we will call a soil analyst, slope and topography as well as other services required to makes the use of the particular site accessible. For instance, if your going to build on a floodplain, we always specified in a layout that this area is a floodplain, no development should be carried out, but the architects will say that there is innovation and improvement in technology, I can manipulate the site, when there is environmental disaster, you find out that a problem has been created.

The EIA is part of our curriculum in educational institutions having departments of urban and regional planning. It’s a multi-disciplinary thing; you get to a point

Report shows global property investment to exceed $1trin 2013 CONTINUED FROM PAGE 31 31per cent of cross border investment and the Americas 18per cent, down from 20per cent in 2011.

“Global capital flows from sovereign wealth funds have been dominating the market notably from North American funds but with a very diverse base including rising Far and Middle Eastern interest as well as more European buying. To date, the move of global pension funds has been led

by Canadian and Far Eastern money but Australian funds are becoming more important as pension allocations there are raised further,” said head of global capital markets at Cushman and Wakefield, Greg Vorwaller.

“More Far Eastern and Central Asian players will also be looking to go global and more Chinese funds will also add to the weight of capital in the market in the short term. Family offices and high net worth individuals are a key part of global demand, and again a very diverse group coming from all corners of the globe. Most adopt a safety first approach as long term players and high quality trophy assets in gateway cities are favoured across a broadening lot size range,” he added.

According to David Hutchings, head of EMEA research at Cushman and Wakefield, there is a growing consensus that the markets are past the worst for the risk cycle and that 2013 risks are weighted towards the earlier part of the year which if proven true will support a more marked pick up in confidence and hence activity later this year.

“There will be a very polarised landscape in terms of risk and perform-

ance: by country, city and sector, and a key theme of the year will be about finding value in second tier markets as investor yield demand grows and as cost sensitive occupier interest grows,” he said.

North America is expected to be a favoured market in 2013 despite ongoing political and fiscal uncertainties.

Early signs of a recovery in occupational demand together with an improving economy and debt market, low vacancy and high liquidity augers well for investment demand and performance. As a result, a 15 to 20per cent increase in investment activity is forecast, alongside modest cap rate contraction, led by the best second tier markets, and a steady normalisation in occupational markets and hence some rental growth.

Improved macroeconomic conditions with sustainable growth across the Asia Pacific region will boost activity and performance resulting in 15 to 20per cent increase in investment activity forecast.

Investment demand will increase as faith grows in China’s soft landing but demand will also broaden and other markets such as Australia and Japan will be an increasing target for overseas investors while markets such as India and Indonesia are likely to be on the rise. Long -term trends such as urbanisation and the increasing middle class will add to demand to access a range of sectors including residential, especially in Chinese cities as well as higher growth markets as Indonesia and Vietnam.

Head of capital markets in Asia Pacific for Cushman and Wakefield, John Stinson said there are clear opportunities in all sectors.

‘In office we expect global banks to follow regional banks in expansion plans fuelling office demand and generating steady rent growth in the major gateway markets of Tokyo, Shanghai, Hong Kong, Singapore and Sydney,’ he said.

“Retail will be boosted by strong retail turnover growth off the back of buoyant GDP forecasts this year with Kuala Lumpar, Bangkok, Beijing and Jakarta likely to benefit the most. Overall the hottest sector this year will be logistics with major hubs of Osaka, Tokyo, Shanghai, Hong Kong and Singapore with strong demand and investment activity anticipated,” he explained.

“For value add opportunities we see strong interest in Indonesia and Malaysia which have performed strongly during uncertain global markets and continuing strong sentiment for India which is now offering some of the most attractive returns in the region,” he added.

Stronger trading is fore-

cast for European markets 2013 but in an increasingly diverse market. The report says that European investment activity is likely to remain subdued in the short term by the lack of quality product and affordable financing but the signs are that more stock released by the banks, the public sector and corporate owners should produce greater activity in 2013 generating a modest 5per cent increase.

“The supply of investment stock generally is likely to improve meanwhile as banks increasingly release legacy assets through loan and real asset sales.

Although we do anticipate more buyers going up the risk curve in 2013, core markets and strategies are likely to dominate again.

Germany in particular will remain a top pick for most investors, with a further gain in its market share forecast in 2013, as in the Nordics. London and Paris are also likely to benefit from the safety first attitude,” said head of European Capital Markets at Cushman and Wakefield,

where you have to invite an engineer or chemical engineer, depending on what is the problem in that area.

Environmental Impact

Statement should be ready before a design; it’s a product of the assessment that would guide the architects.

THE GUARDIAN, Monday, March 18, 2013

48

TheEnvironment Economic losses from disasters hit record figures in 2012

Green fund set to receive donations by end of year Climate Change HE Green Climate Fund T (GCF), the UN’s principle climate finance vehicle, could be

Nigeria last year witnessed severe disasters running into huge costs...

Disaster Management OR the first time in history, the world has experienced Fthree consecutive years where annual economic losses have exceeded $100 billion due to an enormous increase in exposure of industrial assets and private property to extreme disaster events, according to the United Nations Office for Disaster Risk Reduction (UNISDR).

“A review of economic losses caused by major disaster events since 1980 shows that since the mid-90s there has been a rise in economic losses and this has turned into an upward trend as confirmed by the losses from last year when, despite no mega-disaster such as a major urban earthquake, economic losses are conservatively estimated in the region of $138 billion, ” UNISDR Director, Elizabeth Longworth, said at a press briefing, recently.

In 2012, 43.23 per cent of all disasters were hydrological ones or flood tragedies. They were also responsible for 57 per cent of total number of affected persons, 42 per cent of persons killed but only 15 per cent of economic damages.

It’s happened on nine occasions since including the last three years: 2010 ($138 bn), 2011 ($371 bn) and 2012 ($138 bn).

Some 310 disasters killed over 9,300 people in 2012 and affected 106 million others and cost 138 billion US$ (mainly in the US, Italy and China).

In Africa, 82 per cent of people died because of floods and 65 per cent were affected because of drought (and 33 per cent of affected due to floods). The Americas were mainly affected by two major events, which lead to high economic losses: hurricane Sandy affecting the USA and the Caribbean and the drought in the USA. The year was particularly marked by the fact there were no mega-disasters in terms of human impact. The deadliest

event was Typhoon Bopha, which hit the Philippines in December with over 1,900 dead and missing. Asia, once more showed itself to be the most disaster-prone part of the world both in terms of number of disasters and the number of victims.

On the other hand, 63per cent of the economic losses were in the Americas, mainly due to Hurricane Sandy ($50 billion) and the drought ($20 bn).

Europe was hit by two long cold waves at the beginning and end of the year killing almost 1,000 people and Africa was severely affected by drought but also by floods such as those in Nigeria which took over 300 lives.

“Globally, most victims this year was from floods and

droughts which were responsible for nearly 80 per cent of all victims. But as they occur in poorer countries, the economic losses are low. Even so, the floods of Pakistan cost nearly 2 per cent of its annual GDP, which is a lot to recover.

Disasters are a major problem in all poor countries and threats to global security. They should be taken seriously,” said Prof. Debby Guha- Sapir, Director of CRED at the University of Louvain, Belgium.

- Preliminary data for 2012: Some 310 disasters killed 9,330 people in 2012, affected 106 million others and cost US$ 138 billion The year was marked by the fact that there were no megadisasters in terms of human impact. The deadliest event

was Typhoon Bopha in Philippines in December 2012, which resulted in 1,901 persons dead or missing.

- Economic losses mainly due to hurricane Sandy (October 2012) and drought affecting the US (respectively 50 and 20 billion US$) and the two successive earthquakes in Italy in May ($15.8 billion) - In 2012, 43.23per cent of all disasters were hydrological disasters or flood events and these were also responsible for 57per cent of total number of affected persons, 42per cent of persons killed but only 15per cent of economic damages.

- 54per cent of economic damages were due to meteorological disasters, mainly from Hurricane Sandy’s impact on the USA. In 2012, more than 42 per cent of disasters occurred in Asia. It is also the continent with the highest share of deaths (64per) and the highest share of affected people (68per cent). On the

Ondo approves modalities for Osse River Park project The Environment

By Tunde Alao LANS have reached P advance stage to commence the conversion of Ifon forest reserve into Osse River Park, an international standard game park, which will promote sustainable use of natural resources and preserve its flora and fauna.

The project between Ondo State Government and Nigerian Conservation Foundation (NCF) was mooted to minimize pollution and wasteful use of renewable and non-renewable resources in Ifon Forest Reserve.

At a meeting by the leadership of the Nigerian Conservation Foundation (NCF), with Governor Olusegun Mimiko, in Akure recently, the Acting Executive Director of NCF, Dr. Alade Adeleke, highlighted the opportunities that the project will bring to the people and government of Ondo State. At the forum that had in attendance top government officials, also enumerated some challenges facing the smooth implementation of the project since its take-off about two years ago. These include the underdevelopment of infrastructure and total neglect of conservation

and field-related activities.

Reacting to the NCF officials, Mimiko expressed surprise over the non-implementation of the project in line with the technical work plan. He also expressed displeasure that there had not been feedback on how the project had fared since the flag-off over two years ago.

After thorough consideration and consultation with the ministry officials, the Governor approved appointment of Project Manager (PM). He directed the Secretary to the State Government and the Head of Service to liaise with the Permanent Secretary and

NCF in the appointment of the PM. Other issues resolved include regular stakeholders’ meeting, which he pledged his total support and Production and implementation of a one-year work plan with the promise to help facilitate release of more funds to drive the work plan with the necessary approval of the State House of Assembly.

Mimiko also made a pronouncement banning all illegal activities and encroachment in the project area and need to facilitate the enactment of relevant laws on Osse River Park to enhance

enforcement.

It would be recalled that about two years ago, having recognized the importance of the forest to the biodiversity conservation, the State Government entered into partnership with leading NCF. Ifon Forest, located in Ondo State South West Nigeria, has been recognized as one of the newly important bird’s biodiversity hotspots in Nigeria.

The forest has since been recommended for designation as one of Nigeria’s Important Bird Area (IBA) which status is of conservation significance recognized by the BirdLife International.

ready to receive its first donations before the next UN climate summit this November.

The board of the GCF is meeting in Berlin this week and after early setbacks on the issue of transparency, it has been able to make more progress than expected.

“It’s looking much more likely that there will be something that will be able to have funds pledged to it by [the UN summit in] Warsaw,” Amal-Lee Amin, associate director of the consultancy E3G told RTCC. “That has surprised a lot of people. Expectations were low so this feels like a great outcome, but I think it genuinely is. The co-chairs have done a good job to get us to this stage in light of the fact that it had gone into meltdown at the end of last year,” she added. “It’s not a done deal but it feels achievable.”

The board’s third meeting is an improvement so far on previous efforts that were dominated by frustration from NGOs and business groups, which were denied full access to the talks.

A step change in the pace of the process has now diminished some of that pessimism.

“They want the fund to be up and running quickly because some donors have money to put in now,” said Amin.

“This can only come forward once legal and administrative functions are agreed and with greater detail on the business model. Without progress on these it’s very unlikely resources can be pledged and they will either be diverted via other channels or even taken back by national treasuries.

The UK, France, Norway and likely Germany should all have money to pledge.”

Debate on the Business Model Framework (BMF), the general mechanics of the fund, made swift progress with a draft decision presented by the board.

“The Indian delegate was keen to stress the urgency and he wanted the fund to commence,” explained Amin.

“This was very welcome and helped unblock the process. I think that the Board members are conscious that the international community is watching closely and the credibility of the Board was at stake,” claimed Amin.

Leadership by some countries – particularly Colombia who led the sub-group tasked with developing the terms of reference on the BMF process – and the deft co-chairing by South Africa and Australia were very important.”

The GCF has a target to raise $100bn a year by 2020. The money will be used for low carbon projects and adaptation measures in the developing world.

The Green Climate Fund was established by the UN Climate Change Convention to channel support to the developing world to address climate change.

THE ENVIRONMENT

THE GUARDIAN, Monday, March 18, 2013

49

CITES talks move to save tropical timber Conservation HE triennial World’s T Wildlife Conference closed last week with robust meas-

Lagos State Governer Babatunde Fashola, (left); Commissioner for Environment Lagos State, Mr. Tunji Bello, British Deputy High Commissioner in Nigeria, Mr. Peter Carter and Special Adviser on the Environment Dr. Taofeek Folami, at the 5th Climate Change Summit organised by Ministry of The Environment , Lagos...last week PHOTO: GABRIEL IKHAHON

Stakeholders seek new measures to curb climate change effects The Environment

By Tunde Alao ARTICIPANTS at the just concluded summit in Lagos have urged government at all levels to mainstream climate change into its infrastructural development for resilience and sustainability.

They met at the three-day yearlyl summit, organised by Lagos State’s Ministry of the Environment, which attracted various professionals and also recommended that the state’s urban development master plan be reviewed and upgraded to include climate change and adaptation considerations.

They also suggested that the State Government should continue its efforts to utilize multi-modal mass transport system-BRT, water transport among others, in promoting climate-resilient transportation.

The summit themed: “Vulnerability and Adaptability to Climate Change in Nigeria: Lagos State Transportation, Housing and Infrastructure”, afforded participants from different sectors the opportunity of sharing experiences

P

and proffering solutions on the challenges posed by unpredictable weather condition that has put the entire globe on the edge.

Among suggestion are that the Federal Government should provide for the private sector an enabling environment to aggressively pursue climate change mitigation and adaptation initiatives in the interest of green development; that Lagos State should ensure a multi-disciplinary approach to the planning, design, construction and management of urban infrastructure.

The particpants further said that Lagos should integrate food security and sustainable agriculture into its policies to promote sustainable rural livelihoods in the face of climate change; work closely with active and relevant environment/biodiversity civil society organizations to translate its commitment to the Local Action.

They hinted that the state should continue to pursue and re-intensify its current approach to making Lagos more resilient through a well documented and implementable strategy and action plan within the Hyogo

Framework for Action (2005 – 2015) and establishment of disaster resistant coastal infrastructure.

Earlier, former Minister for Energy in Sierra Leone, who is currently in the Department of Mechanical and Maintenance Engineering, Fourah Bay College, University of Sierra Leone, Professor Ogunlade Davidson’s elaborated on the evidences and consequences of climate change in Africa, with emphasis on the continent’s vulnerability to the impact of climate change in the areas of agriculture, biodiversity, energy, water resources, and infrastructure.

Taking “An Overview of Climate Change Mitigation and Adaptation Strategies on Infrastructural facilities’, he stressed that unless appropriate mitigation and adaptation measures are put in place, Africa will continue to be vulnerable to climateinduced extreme events.

Expressing similar view, the British Deputy High Commissioner in Nigeria, Mr. Peter Carter, who agreed that Africa is more vulnerable, said climate change is a global challenge, which countries are better off facing together,

adding that it poses a fundamental threat to man’s longterm prosperity and security.

Lagos State Governer Babatunde Fashola, who spoke during the opening ceremony which also featured the signing of Local Action for Biodiversity Declaration, added that for the fact that human activities contribute in no small measure to climate change, urged that people must slow down on certain things, change some and stop certain things all together about the way they live because nature’s reaction makes man vulnerable.

According to Fashola, “Once we agree to slow down things, nature will also pull back. This is the story about environmental impact because every building, every car you drive, every office you build has an impact so our central message is about mitigation and adaptation”, he said, adding that mitigation is about slowing down, compensating for it.

The State’s Commissioner for Environment, Mr. Tunji Bello said the previous summits have clearly shown that the state’s commitment to

the development and evolvement of a climate change conscious society so as to lay the foundations necessary to counteract the prospective global threat is yielding positive results.

He said the desire has propelled the administration to come up with a topical issue that is in tune with the policy thrust of the administration as the theme, which is “Vulnerability and Adaptability to Climate Change in Nigeria with particular focus on transportation, housing and infrastructural sectors of Lagos State”.

The Local Action for Biodiversity (LAB) Declaration by the Lagos State Government and International Council for Local Environment Initiatives (ICLEI) were later signed by the Governor and Programmes Director of ICLEI, Mr. Russell Galt after the opening ceremony.

Also, Chairman of the House of Representatives Committee on Environment and Ecology, Mr. Eziuche Ubani congratulated Lagos for blazing the trail in terms of its focus on climate change.

Society canvasses indigenous waste management strategy Sanitation

By Tosin Fodeke

S Nigeria grapples with A its myriads of environmental challenges, professionals under the aegis of Waste Management Society of Nigeria (WAMASON) have called for the formulation of an indigenous strategy for the collection, treatment, recycling and disposal of all streams of wastes.

The society members while speaking at the swearing-in of new executives in the Lagos Council, stressed that Africans need to adopt a locally formulated technique for managing waste, which would be more effective in dealing with the many pollution

challenges, brought upon it by the crude oil boom.

Managing Director, Lagos State Waste Management Agency (LAWMA), Mr. Ola Oresanya, while speaking at the event, stated that Nigeria needs to develop an internally generated policy for managing waste, as this would help tackle its numerous sanitation challenges.

Oresanya an ex -official of WAMASON welcomed constructive criticism and support from the society and tasked the executive council to come up with more programmes that would develop the individual capacity of members.

He said: “We need a strategy that is modified or

adapted from what has been passed down from the western world. What we have come to know is that they do not usually give us all their technology secrets however we have been managing” “LAWMA over the years has been developing a database of solution to problem encountered in waste management and this is why we have been able to expand our operational space to other countries.” The LAWMA boss stated.

Earlier, Chairman Lagos State House Committee on Environment, Abiodun Tobun urged LAWMA and WAMASO not to relent in their efforts at ridding the state of waste.

He implored them to

work together with legislatures but making their requests known in written proposals.

“What we do is make laws for the smooth operation of business and services in the state. And if you don’t make your case known to us how can we help?”

Stated Tobun.

Guest Speaker at the event, Professor Tunde Ogunsanwo called on waste manager to seize the opportunities inherent in automobile waste recycling.

He said: “WAMASON and LAWMA need to look into the endless set of opportunities in managing automobile waste. However this area has been left for the Chinese and Indians”

Second National Vice president of the Society, Alhaji Rabiu Suleiman, who performed the swearing-in called on the legislative member to use his influence to assist the Society in acquiring the status of a chartered body governed by law.

Members of the new executive committee include, Councillor- Alhaji Jeleel Olubori, Vice Councillor- Success Ikpe, Secretary -Babawale Aduroshakin, Assistant Secretary- Ernest Abu, Technical Secretary-Mrs. Iniobong Abiola Awe, Assistant Technical Secretary-Dr. Gbolabo Ogunwande, and Public Affairs Officer- Mrs. Margret Dara Oshodi, among oth-

ures adopted to protect precious timber and marine species from over-exploitation.

About 170 governments have turned to CITES to ensure the legal, sustainable and traceable trade in their precious timber and forest products, with the Conference unanimously bringing hundreds of new timber species under CITES controls, along with a number of tortoises and turtles and a wide range of other plant and animal species. Five shark species and manta rays were also brought under CITES controls following a vote.

The members States declared the 3rd of March as the World Wildlife Day and accepted South Africa’s invitation to host the 17th meeting of the Conference of the Parties to be held in 2016.

The CITES Secretary-General, John E. Scanlon, said: “This is a big day for CITES and for the world’s wildlife. It takes enormous effort to negotiate treaties and then make them work. The international community has today decided to make best use of this pragmatic and effective agreement to help it along the path to sustainability in our oceans and forests”.

CITES Parties have heeded the call from Rio+20 and recognized the important role of CITES as an international agreement that stands at the intersection between trade, the environment and development.

“Unprecedented levels of international cooperation to combat serious wildlife crime have seen past differences set aside to stop the poaching of elephants and the rhinoceroses for their ivory and horn.

These international commitments will now be translated into national action, with the CITES Standing Committee reviewing progress between now and the next meeting in 2016” said Scanlon.

The Asian and African Development Banks, the Global Environment Facility (GEF), the World Bank and the United Nations Development Programme have all attended this meeting in recognition of the need to scale up investment in the implementation of CITES. The CITES member States have decided to explore the possibility of making the GEF a financial instrument for the Convention.

The first global meeting of wildlife enforcement networks took place alongside the main meeting to scale up regional enforcement capacity and coordination to respond to the serious threat posed to wildlife by criminal networks. Several events of the International Consortium to Combat Wildlife Crime (ICCWC) brought together Government Ministers, the world’s Wildlife Enforcement Networks, the Asian Development Bank, chief justices, attorney generals, senior police and Customs, and enforcement officers to discuss transboundary wildlife crime.

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THE GUARDIAN, Monday, March 18, 2013

THE GUARDIAN, Monday, March 18, 2013

Weekly Lead Equity Ratings

COMPANY’S RESULT

CONTINUE FROM PAGE 30

STOCKWATCH 51

THE GUARDIAN, Monday, March 18, 2013

52 STOCKWATCH

Takeovers mergers and acquisitions INTRODUCTION TAKEOVER bid is an offer to purchase enough shares of a company to overtake the current majority shareholder. There are a variety of different takeover bid strategies, including friendly, hostile, and two-tier. High profile takeover offers almost always result in a temporary flux in the stock market, which may go up or down depending on public and market opinion of the takeover bid.

In a friendly takeover, the bidding company or individuals inform the board of directors of the target company. Depending on the offer made, the directors then recommend to stockholders whether to accept or reject the takeover bid. In small companies, it is easier to approve a friendly takeover, as the board of directors often makes up the majority shareholders. However, if the board feels it is not in the interest of the company to accept the terms, they may reject the takeover bid, which sets the stage for a hostile takeover of the target company. Takeover bids may begin hostile or become hostile, depending on the strategy of the bidders. If a bidding company attempts to buy the majority shares without informing the board of directors first, this is considered a hostile maneuver. Likewise, if the board rejects the friendly takeover offer, the bidder may choose to continue pursuing shareholders without the input of the board of directors.

Hostile takeovers may be conducted in a variety of ways, nearly always ending in disaster for the current board of directors if the acquiring party is successful. The bidding company may attempt to influence shareholders to vote out the board of directors in the interest of the company, using a tactic called proxy fighting. They may also simply buy all the shares available on the market to gain influence in changing the board to takeover-supporting members. In a tender offer, the bidder may offer to pay a fixed price above the market value for the shares, which the board may be forced to accept. There are a variety of methods that exist to help the target corporation avoid hostile takeover, but these carry their own huge risks. In a white or grey knight defense, the target company enlists the help of another corporation to bail them out, sometimes by offering them incredible concessions in return for buying enough stock to stalemate the takeover bidder.

Other tactics, called Jonestown, suicide, or poison pill defenses, involve taking on large amounts of debt or diluting share value in order to make the target company less attractive to bidders.

In 2008 amid a media frenzy, Microsoft offered a $46.6 billion US Dollar bid to take over the internet company Yahoo. What would have been the largest takeover in Microsoft’s history was allowed to fizzle out after repeated attempts at a hostile takeover were rejected by the Yahoo board of directors. Once it became clear that Microsoft would have to lay out considerably more money than they initially intended, the offer was dropped. Industry analysts suggest that this takeover would have been bad for both companies, and resulted in a 15% loss of jobs for Yahoo employees.

For the consumer, the concern with takeover bids is that there are fewer choices available on the market, often resulting in rising prices and lower competition. For workers at a successfully targeted company, new management can often lead to job losses and serious upset to the established chain of command.

Generally, a takeover bid is seen as good for the corporation, bad for the consumer and the lower-level workers. Critics also see a takeover bid as a slippery slope that can lead to violating antitrust laws, and in need of serious legal parameters.

There are a variety of reasons why an acquiring company may wish to purchase another company. Some takeovers are opportunistic - the target company may simply be very reasonably priced for one reason or another and the acquiring company may decide that in the long run, it will end up making money by purchasing the target company. The large holding company Berkshire Hathaway has profited well over time by purchasing many companies opportunistically in this manner.

Other takeovers are strategic in that they are thought to have secondary effects beyond the simple effect of the profitability of the target company being added to the acquiring company's profitability. For example, an acquiring company may decide to purchase a company that is profitable and has good distribution capabilities in new areas which the acquiring company can use for its own products as well. A target company might be attractive because it allows the acquiring company to enter a new market without having to take on the risk, time and expense of starting a new division. An acquiring company could decide to take over a competitor not only because the competitor is profitable, but in order to eliminate competition in its field and make it easier, in the long term, to raise prices. Also a takeover could fulfill the belief that the combined company can be more profitable than the two companies would be separately due to a reduction of redundant functions.

Takeovers may also benefit from principal-agent problems associated with top executive compensation. For example, it is fairly easy for a top executive to reduce the price of his/her company's stock - due to information asymmetry. The executive can accelerate accounting of expected expenses, delay accounting of expected revenue, engage in off balance sheet transactions to make the company's profitability appear temporarily poorer, or simply promote and report severely conservative (e.g. pessimistic) estimates of future earnings. Such seemingly adverse earnings news will be likely to (at least temporarily) reduce share price. (This is again due to information asymmetries since it is more common for top executives to do everything they can to window dress their company's earnings forecasts). There are typically very few legal risks to being 'too conservative' in one's accounting and earnings estimates.

A reduced share price makes a company an easier takeover target. When the company gets bought out (or taken private) - at a dramatically lower price - the takeover artist gains a windfall from the former top executive's actions to surreptitiously reduce

A

share price. This can represent tens of billions of dollars (questionably) transferred from previous shareholders to the takeover artist. The former top executive is then rewarded with a golden handshake for presiding over the fire sale that can sometimes be in the hundreds of millions of dollars for one or two years of work. (This is nevertheless an excellent bargain for the takeover artist, who will tend to benefit from developing a reputation of being very generous to parting top executives). This is just one example of some of the principal-agent / perverse incentive issues involved with takeovers.

Similar issues occur when a publicly held asset or non-profit organization undergoes privatization. Top executives often reap tremendous monetary benefits when a government owned or non-profit entity is sold to private hands. Just as in the example above, they can facilitate this process by making the entity appear to be in financial crisis - this reduces the sale price (to the profit of the purchaser), and makes non-profits and governments more likely to sell. It can also contribute to a public perception that private entities are more efficiently run, reinforcing the political will to sell off public assets.

With regards to funding an acquisition, often a company acquiring another pays a specified amount for it. This money can be raised in a number of ways. Although the company may have sufficient funds available in its account, remitting payment entirely from the acquiring company's cash on hand is unusual. More often, it will be borrowed from a bank, or raised by an issue of bonds. Acquisitions financed through debt are known as leveraged buyouts, and the debt will often be moved down onto the balance sheet of the acquired company. The acquired company then has to pay back the debt. This is a technique often used by private equity companies. The debt ratio of financing can go as high as 80% in some cases. In such a case, the acquiring company would only need to raise 20% of the purchase price.

Cash offers for public companies often include a "loan note alternative" that allows shareholders to take a part or all of their consideration in loan notes rather than cash. This is done primarily to make the offer more attractive in terms of taxation. A conversion of shares into cash is counted as a disposal that triggers a payment of capital gains tax, whereas if the shares are converted into other securities, such as loan notes, the tax is rolled over.

A takeover may be financed by an all share deal. The bidder does not pay money, but instead issues new shares in itself to the shareholders of the company being acquired. In a reverse takeover the shareholders of the company being acquired end up with a majority of the shares in, and so control of, the company making the bid. The company has managerial rights.

While perceived pros and cons of a takeover differ from case to case, there are a few worth mentioning.

Pros: • Increase in sales/revenues (e.g. Procter & Gamble takeover of Gillette) • Venture into new businesses and markets • Profitability of target company • Increase market share • Decrease competition (from the perspective of the acquiring company) • Reduction of overcapacity in the industry • Enlarge brand portfolio (e.g. L'Oréal's takeover of Bodyshop) • Increase in economies of scale • Increased efficiency as a result of corporate synergies/redundancies (jobs with overlapping responsibilities can be eliminated, decreasing operating costs) Cons: • Goodwill often paid in excess for the acquisition.

• Reduced competition and choice for consumers in oligopoly markets. (Bad for consumers, although this is good for the companies involved in the takeover) • Likelihood of job cuts.

• Cultural integration/conflict with new management • Hidden liabilities of target entity.

• The monetary cost to the company.

• Lack of motivation for employees in the company being bought up.

Takeovers also tend to substitute debt for equity. In a sense, government tax policy of allowing for deduction of interest expenses but not of dividends, has essentially provided a substantial subsidy to takeovers. It can punish more conservative or prudent management that don't allow their companies to leverage themselves into a high risk position. High leverage will lead to high profits if circumstances go well, but can lead to catastrophic failure if circumstances do not go favorably. This can create substantial negative externalities for governments, employees, suppliers and other stakeholders.

In Nigeria, mergers and acquisitions by public companies are principally regulated under the Investments and Securities Act 2007 (the “ISA”) and the Rules and Regulations made pursuant to the ISA (the “SEC Rules”). The listing rules of the Nigerian Stock Exchange (the “Listing Rules”) also contain regulations that impact on M&A transactions. The provisions governing schemes of arrangement are contained in the Companies and Allied Matters Act, Cap C20, Laws of the Federation of Nigeria 2004 (“CAMA”).

The key regulator of mergers and acquisitions in Nigeria is the Securities and Exchange Commission (“SEC”). Pending the passing of a competition law (the Federal Competition Commission Bill, which provides for the establishment of a competition commission is currently before the National Assembly), the SEC is also responsible for reviewing mergers and acquisitions to ascertain whether a proposed transaction would result in a substantial restraint of trade. The ISA provides that it is not necessary for the SEC to be notified prior to the implementation of a small merger (currently defined as mergers involving companies with either combined assets or turnover of below NGN250,000,000 - approximately USD 1.66 million), although the SEC requires that it be informed after completion of the small merger. Parties to all other mergers are required to seek the approval of the SEC. In addition, there are other sector-specific laws that regulate M&A transactions, such as the Banks and other Financial Institutions Act, Cap B3, Laws of the Federation of Nigeria 2004, which regulates the banking industry; the Nigerian Communications Act 2003 which regulates the telecommunications industry; the Insurance Act 2003 which regulates the insurance industry and the Electric Power Sector Reform Act 2005 which regulates the electric power sector.

These laws and guidelines are binding on the companies in that industry in addition to the SEC regulations.

In Nigeria, control of a public company can be acquired through any of the following methods: • A scheme of arrangement, which requires the approval of 75% of the shareholders, present and voting in person or by proxy at a court-ordered meeting, approval of the SEC and must be sanctioned by the Federal High Court. Once approved in this way, the transaction is binding on all the shareholders of the company; • A takeover bid, which is an offer to buy shares from existing shareholders and which will only be binding on any shareholder that accepts the offer; and • A scheme of merger which is a scheme of arrangement that involves the transfer of the assets, undertaking or property of a company to another company. Mergers are the most commonly used of these methods for acquiring control of a public company in Nigeria.

Section 131 of the ISA which was introduced in 2007 provides for shareholding thresholds that trigger a mandatory tender offer.

The relevant thresholds are: Where a person acting either alone or in concert with other persons, whether in one or a series of transactions, acquires 30% or more of the shares of a company; and where a person acting either alone or in concert with other persons, and that holds between 30 and 50% of a company’s shares, acquires additional shares.

The regulations governing schemes of arrangement and mergers require that an application be made to the Federal High Court for an order to hold court-ordered meetings. In practice, this application is only made after the scheme document has been cleared by the SEC and the SEC has given its approval for the transaction to proceed, having considered whether it is likely to have antitrust implications. After the relevant resolutions are passed at the meeting, the approval of the SEC and any other relevant regulator must be sought before the parties return to court to seek an order sanctioning the scheme.

All these applications (to the court and various regulators) will usually be the determining factor in relation to timing. The only time period that cannot usually be avoided or abridged is the 21day period during which notice of the court ordered meeting is given to shareholders. If the transaction involves the issuance of new (unissued) shares to the acquirer, the approval of the Quotations Committee of the NSE must be obtained in respect of any new shares issued by the target, which are required to be listed on the stock exchange. The committee usually meets once a month only and this may impact on the timing for completing the transaction.

The scheme of merger process takes approximately three months. The takeover regulations provide some guidance on timing; for example the regulations provide that a bid must be open for at least 21 days and, in the case of a bid for less than all the shares in the target, any extension must not exceed 35 days. The takeover regulations are silent, however, on the maximum period for which a bid for all shares may be open. Consideration must be paid within 14 days after the offer closes. Before the bid is dispatched, the offer or must first apply to the SEC for authority to proceed. From the time an application for authority to proceed is filed, a takeover can be completed within about seven to eight weeks.

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Total external debts sustainability of the 36

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states as at December 31st 2011

TO BE CONTINUED

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58 BUSINESS

THE GUARDIAN, Monday, March 18, 2013

FRSC to commence enforcement of speed limit on fleet operators

By Taiwo Hassan HE Federal Road Safety Commission (FRSC) said that it would commence the enforcement of road speed limit device for all fleet owners to install on their vehicles towards the end of the year.

According to the commission, this was a move to curb the violation of speed limit by vehicle owners operating in

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among motorists and trans- Deputy Corps Marshal of the in their vehicles. And once we tive effort. He has further valiport operators in the country. commission, Boboye can cut down speed on our dated our data that the crash He said that SPV accounted Oyeyemi, said that if the FRSC highways then the problem records are reducing. And for 35 per cent and was the could tackle the SPV (35 per on our roads accident is this shows that the collaborative effort is paying up and highest causative factor of cent) and Loss Of Control solved. road accident in the country.

“Speed violation accounts what we need to do, is to col(LOC), sanity would come According to him, the maxi- back to the nation’s highway. for 35 per cent, while loss of laborate with all the other mum speed limit for vehicles He added that the commis- control is 17 per cent. So, 35 states and get more.”

Chidoka enumerated the remains 100 kilometres per sion had done what it was per cent plus 17 per cent is 52 hour, adding that the com- expected of it on this issue but per cent, if we can handle cause of crash accident to mission was in consultation discovered that most fleet those two effectively, imagine include: SPV (35 per cent), loss with relevant bodies or associ- operators were still violating the crash on the highway will of control (17 per cent), dangerous driving (17 per cent), ations towards the com- the speed limit specification. definitely come down.” mencement of the enforceHe continued: “Look at the tyre bust (nine per cent), “I am talking about enforcement of the SPV. ment of speed limiting pronouncement of the Lagos brakes failure (five per cent) Chidoka, who was represent- devices that it is compulsory State’s Commissioner for and wrong overtaking (three ed at the occasion by the for all fleet owners to install it Transport on the collabora- per cent). in the Nigerian financial landscape, there was need for the lender to continue to improve on its physical structures.

Meanwhile, according to Akingbade, the promotion had enhanced the bank’s balance sheet and substantially raised awareness on the need to bring the unbanked into the financial system.

“Our bottom line, especially savings deposit base, has improved in the course of the promo, but we also ensured that the process of selecting winners was transparent and clear to the regulators of lottery business in the country.

“We have delivered on our promises. We have empowered a number of people through this promo and will from here, move from strength to strength. Some of the winners that won cash were able to use the funds to boost their financial flow, while others utilised the money to start new businesses,” he said.

Speaking after taking possession of the SUV, the star prizewinner, from TransAmadi Branch of the bank, in Port Harcourt, said that the bank had “by this gesture, shown that it is transparent Lagos State Commissioner for Education, Mrs. Olayinka Oladunjoye (left); Chairman, Lagos State House of Assembly Committee on Education, Wahabi and trustworthy in its activi- Alawiye-King; Governor Babatunde Raji Fashola; presenting Corporate Social Responsibility Award on Support our Schools Initiative to the Marketing ties.”

Director, Nigerite, Toyin Gbede, in Lagos, at the weekend.

the country and to further reduce road accidents on the highways.

Corps Marshal/Chief Executive Officer, FRSC, Osita Chidoka, who made this remarks at the ABC Transport Plc’s 20th anniversary celebration in Lagos, recently, said that the only challenge before the commission was tackling the speed violation (SPV)

Sterling Bank plans model branches, records improved deposit base Bank Plc has conS40TERLING cluded plans to build about ‘model’ branches and remodel existing ones in high profile locations, a strategy, which it said was aimed at ensuring that its customers get quality service at the best environment.

Also, the bank said that it had recorded improved bottom line, especially on the financial institution’s deposit base, due to the Savers Promo, that was just concluded.

The bank’s Group Head, Bancassurance, John Akingbade, said this at the inauguration of a model branch at Adeola Odeku, Lagos, and official presentation of Sport Utility Vehicle to the star prizewinner, Miss Homa Amadi–Nna. The bank’s Regional Channel Co-ordinator, Mena Sidahome, said that the lender would build 40 model branches in line with its improved service quality and commitment to surpassing customers’ expectations.

She added that the bank would also rebrand some of the existing branches in high profile locations to ensure that customers got improved quality of service.

Sidahome said that as a player

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Tax implication of IFRS adoption

By Frank Obaro N line with section 8 of Federal Inland Revenue Service (FIRS) Establishment Act 2007, FIRS issued a draft circular in October 2012 to provide direction to stakeholders on the tax implications of the adoption of the International Financial Reporting Standards (IFRS). IFRS is expected to far have reaching implications on taxpayers, knowing that quoted companies are expected to adopt it, beginning from 2012, other businesses from 2013 while SMEs are to fully adopt the guidelines in 2014.

This is to give effect to the Federal Executive Council’s acceptance of the recommendation of the committee on the roadmap for the adoption of IFRS in Nigeria, which places emphasis on the adoption of globally accepted accounting standards by reporting entities.

The adoption of International Financial Reporting Standards (IFRS) in a phased transition in a process is to be supervised by the Financial Reporting Council of Nigeria(FRCN) formerly Nigerian Accounting Standards Board (NASB), under the supervision of the Nigerian Federal Ministry of Trade and Investment.

Section 55 (1) of the Companies Income Tax Act (CITA), Cap C21, LFN 2004 requires a company filing a return to submit its audited account with the Service while sections 8, 52 and 53 of the Financial Reporting Council of Nigeria Act, 2011 gave effect to the adoption of International Financial Reporting Standard.

This implies that the audited accounts to be submitted to the Service after the adoption of International Financial Reporting Standard shall be prepared in compliance with standards issued by IFRS. It is in line with the above that FIRS has published these draft guidelines on tax treatments to be given to each of the Standards especially where there are deviations from the present Generally Accepted Accounting Practice (GAAP) after the adoption. The objective is to highlight some salient points in the FIRS draft policy document in alignment with the IFRS guidelines.

IFRS 1 - FIRST TIME ADOPTION An entity shall prepare and present an opening IFRS statement of financial position at the date of transition to IFRS. This is the starting point for its accounting in accordance with IFRS. An entity shall use the same accounting policies in its opening IFRS statement of financial position and throughout all periods presented in its first IFRS financial statements. Those accounting policies shall comply with each IFRS effective at the end of its first IFRS reporting period.

In particular, the IFRS requires an entity to do the following in the opening IFRS statement of financial position that it prepares as a starting point for its accounting under IFRS:(a) recognise all assets and liabilities whose recognition is required

by IFRSs; (b) not recognise items as assets or liabilities if IFRS do not permit such recognition. (c) reclassify items that it recognised in accordance with previous GAAP as one type of asset, liability or component of equity, but are a different type of asset, liability or component of equity in accordance with IFRSs; and (d) apply IFRS in measuring all recognised assets and liabilities”.

FIRS draft guidelines emphasise that the new net asset based on the accounting balance shall be adopted for minimum tax computation and where dividend is paid from retained earnings, it shall be subject to tax in line with section 19 of CITA. Also the details of recognitions, de-recognitions and reconcilia-

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Alhaji Kabir Mashi, Ag. Eexcutive Chairman, FIRS tion must be forwarded to FIRS by the taxpayer including all adjustments to opening retained earnings.

Furthermore entities shall have the option to either completely expense or spread within three years the revenue expense component of its cost of conversion to IFRS as first time adopters. All conversion cost (Capital & Revenue) must be verified and confirmed by the Service before it can be allowed as Qualified Capital Expenditure or expense.

While any additional tax/refund as a result of the conversion shall be settled by the company or refunded by FIRS as may be agreed by FIRS within 3 years of adoption.

For the treatment of Finance Lease the FIRS guideline notes that in compliance with IFRS reclassification of lease asset, there could be a situation whereby an operating lease becomes a finance lease. Where two parties had correctly applied the old principle but are now compelled by the IFRS standard to reclassify operating lease as finance lease, FIRS will rely on the Tax Written down value of the asset in granting further capital allowance to the leasee.

Also, investment allowance and Initial allowance shall not be granted to the leasee on reclassification of the asset and where there are errors in compliance with previous standards on leases, the tax consequences resulting from the errors shall be adjusted for accordingly.

For assets reclassified to finance lease, paragraph 18(2) and (3) of schedule two of CITA which relates to Rights to Claim Capital Allowances on finance lease shall apply. The guideline on finance lease as described in FIRS information circular No. 2010/01 dated 12th April, 2012 which relates to Value Added Tax (VAT) and With- Holding Tax (WHT) shall apply.

In IAS 19 – which dwells on EMPLOYEE BENEFITS, the FIRS draft guidelines notes that provisions in respect of other longterm employee benefits (other than post- employment benefits and termination benefits) that are not due to be settled within twelve months after the end of the period in which the employees render the related service shall not be allowed for tax purposes until actual payment is made.

Profit sharing and bonus payments shall be allowed for tax purposes only if the amount and basis for its computation has been agreed and approved at the beginning of the accounting period and notably Personal Income Tax is payable on the bonus and profit sharing in line with the provisions of Personal Income Tax (amended 2011).

For Pension remittances employer’s contributions over and above the 7.5 per cent compulsory threshold is an allowable deduction by virtue of the provision of the National Pension Commission Act (section 7 & 9 of Pension Act) and Actual contribution paid to the pension fund in the current year shall be allowed for tax purposes in line with the existing practice.

The National Pension Commission has been empowered to approve defined benefit plan for any entity that wants to run it.

However, FIRS must be satisfied that a proper scheme manager is appointed for the security of the fund before allowing any expenses on the scheme for tax purposes.

Any provision charged to Statement of Comprehensive Income (SOCI) that does not have the approval of Pension Commission (PENCOM) and FIRS shall be disallowed.

Provision made for benefits payable to the employees offered voluntary redundancy shall not be an allowable deduction for tax purposes unless they result into cash payment to the employees.

There is no doubt that the transition to IFRS is a huge task, with over 100 countries already signed to it. IFRS has become the global reporting standards for accounts and it is imperative for various stakeholders to work together to engender a workable solutions in terms of capacity and enlightenment on the cut off dates.

Its revolutionary impact tax requires a great deal of decisiveness and commitment. It is a new world order in corporate reporting that will alter not only the financial accounting and reporting landscape in Nigeria but also tax accounting, tax cash flow and tax distributable reserves.

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THE GUARDIAN, Monday, March 18, 2013

BondWatch DLM BOND WATCH: MARCH 18, 2013

THE GUARDIAN, Monday, June 6, 201161

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

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BusinessInterview How to promote the fortunes of

Oteh

Ms Arunmah Oteh is the Director-General of the Security and Exchange Commission of Nigeria (SEC). She is also the Chairperson of the African Middle East Regional Committee (AMERC) of the International Organization of Securities Commissions (IOSCO). In this interview with BUKKY OLAJIDE, Oteh bares her mind on the state of Nigeria’s capital market and options for its growth. Excerpts.

HAT have been the achievements of AMERC so far under W your leadership?

First and foremost, the AMERC meeting is a forum for of member nations that belong to the IOSCO in Africa and the Middle East.

Our annual meeting, which took place last on the 18th of February in Dubai, is a gathering of discussions about progress in our individual countries as well as our region. The theme was on risk-based supervision given the development since the financial crises and everybody realizing that the world is not out of the woods yet in respect of financial crises.

We agreed as member nations of AMERC of IOSCO that we would focus on developing our capacity and understanding on risk management issues and risk based supervisions. We will share experiences, make it more practical to support some of the training that we have already received as a region Since 2010, when I took up the responsibility for AMERC, what I brought is my experience working with multilateral institutions like the African Development Bank so that there is a recognition of the importance, not just altruistic for AMERC but for the globe because the growth today is coming from the emerging and frontier markets.

How significant do you think AMERC is as it concerns the growth of securities and capital market, across Africa and the Middle East, bearing in mind that most of the markets are emerging as well as frontier markets?

The AMERC of IOSCO is actually crucial because many of us are at the same level of development. So an opportunity to share experiences about the development in our markets. Some of the issues include ensuring that policy makers are aware of the importance of capital market to the growth of the economy.

Essentially, experiences in the various markets are virtually similar.

For example, thee is much greater awareness of the banking sector than there is in the capital market but right now, there is greater recognition that if you want to fund infrastructure and businesses for long term, it is important that you need to focus on medium to long term finance.

Secondly, financial inclusion is a big issue for the African Middle East Region, including financial literacy issue because many of us have population that are not very much aware of the importance of savings, investing and instruments that you can save with.

A number of us have Muslim population, so, we are trying to leverage Islamic finance as the financial inclusion instruments and as a way to target resources from the Gulf region so that we can fund our huge needs.

For example, in Nigeria, we are in the process of approving sukuk bonds, which is very similar to zero coupon bonds and it’s an innovative instrument that will help us finance some of what needs to be financed by the Federal Government or by state governments.

So, we do have similar histories, issues and expectations also from the world.

Another significant thing which is an issue in Nigeria and in the region is the deal in multilateral situation which is to ensure that we have sufficient voice so that when we get to more global institutions, we can articulate issues as one group and our voice will be stronger.

That is what the AMERC region also provides in addition to sharing information and ways of doing things.

We also discussed anti money laundering initiatives. This is important in protecting the integrity of our market, and to learn from the experience of the Dubai Financial Services Authority as we look at entrenching a culture of anti money laundering even at the level of capital market operators.

Looking at the issue if risk-based supervision, is it an eldorado or a journey or a destination?

Risk-Based supervision is a journey. The reason is that first and foremost, it’s about prioritising because you can never have enough resources to tackle the challenges that may affect a particular market. RBS gives you the discipline to ensure that you have greater resources. It is important that we establish a risk tool that allows us to catch those things before they happen.

It is also about the incentive structure in a different firms, in the capital market operators and about us also having the resources at the level of the technical staff to prepare and anticipate some of these potential risks.

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Nigeria’s capital market, by Oteh Also, you must have the knowledge, the experience at the leadership and board level even amongst us as regulators or in the firms to make sure that we can catch the issues before they happen because, potentially, it’s like a little poison which is what a risk can be that basically starts small but spreads easily across the system.

The whole concept of RBS started in the 80s when there were some challenges in a number of developed markets like Canada, U.K, and others.

After the financial crisis, there was greater recognition about the interconnectivity of markets and different kinds of institutions.

You also need holistic approach of planning and determining how you organise your resources, the approach on periodic basis having opportunity to interact within your organisation with the market and market participants as to where you are on the issue of risks being very important.

Was there any unique thing in your discussions in the last meeting of the AMERC that took place in Dubai?

Yes, each of us talked about the risks that we face in our markets. Some of them were similar while others were different.

Some of the risks that we outlined were technology risks, in the absence of technology infrastructure to support our higher demands.

There are also political risks that we face as regulators where there is not enough of understanding in the AMERC region in some countries about the importance of regulation to developing the market. It is important that we establish risk tools that allow us to catch these things before they happen.

It is also about incentive structure in the different forms in the capital market operations, it’s about having the resources at the level of the technical staff to prepare and anticipate some of these potential risks.

But also, you must have the knowledge, the experience at the leadership level, at the board level and even amongst us as regulators, or in the firm to make sure that we can catch the issues before they happen.

What was unique in the last deliberations, which took place in Dubai?

What was unique in this particular meeting was that we had opportunity where each of us talked about the risks that we face in our own market.

Some of the risks that we outlined were technological, in the absence technology infrastructure to support our work given the higher demands.

Some of them were the political risk as regulators where there is not enough understanding in the AMERC region in some countries about the importance of regulation to developing the markets.

The others are of course related to corporate governance and ethics in the business. Some of the other operators talked about some of their processes including examining and evaluating board members before they are confirmed Why was MOU signed with Oman and what are the lessons?

I think it is important to give you a context to some of the principles that drives international organization of securities commissions.

First, the IOSCO is really an organisation of member countries from around the world and it’s more than 100 jurisdictions and what binds them together is the multilateral memorandum of understanding where you commit to sharing information for enforcement purpose primarily.

What we recognise in Nigeria is that there are opportunities for us through bilateral MOUs to deepen our relationship beyond the cooperative relationship. It could be exchange of staff, or sharing of information on products that are unique to our areas.

So, we have signed a MoU in China, last May, we signed MOU with Mauritius. A number of our companies have a vehicle that is established with Mauritius that allows us to do further due diligence on some vehicles.

Similarly, as we look to broaden resources of investors that invest in our market, we see interest from the Gulf region so very useful to have this deeper relationship with Oman, which we‘ve come up with.

A number of our institutions are looking to grow and set up in other parts of the world, so we have an MOU with Kenya. For a number of them who are targeting East Africa, the opportunities to establish in the sub-region is very important, So, with our MOU with Kenya, we can do due diligence faster, we can share information much more easily and exchange views and Kenya is doing much very well in Islamic finance as Africa is doing very well in Islamic finance.

As we look to see how we can make this era work for Nigeria, it is very important to understand what happens in these countries.

So, this has been an absolute outstanding meeting in a number of ways. First, there was collective agreement on the depth of the discussion that we have during the African Middle East Regional Committee Meetings on the issues that were of concern for the region.

Also of concern are tropical risks, where some of the risks that may be of greatly important to us may not be that important to other countries.

For example, in some of the developed markets, high frequency trading is a big issue, hedge funds and so on are a big issues, Secondly, it’s an opportunity to connect with individual juris-

Another significant thing which is an issue in Nigeria and in the region is the deal in multilateral situation which is to ensure that we have sufficient voice so that when we get to more global institutions, we can articulate issues as one group and our voice will be stronger. dictions and share experiences about what individual jurisdiction is doing, where we can learn from each other, to ensure that we protect our markets should there be any malfeasance from any of the operators coming from that market or one of us that is going to their own market.

I think also what is unique about the AMERC is what we consider a success for us in the regions MOUs were signed. So, in addition to the multilateral MOU that all of us are signatories to and in addition to the bilateral MOUs that we have with individual countries, we actually have an MOU for the AMERC region.

This is unique, it’s the first time it’s been done in the IOSCO and its one that is exemplary because it allows us to use that as a basis to bring together issues of concern to the region as well.

SEC made a foregrounding returns last year about 34 per cent.

It is foregrounding in the sense that after four years of meltdown, we are not there yet, it’s not at the level prior to 2008 but what do you think necessitated that positive growth and is still on a positive momentum even as we started 2013?

We are delighted that at SEC that the reforms that we started in January of 2010 are basically yielding returns.

As you know, at the beginning of our reform programme, we indicated that the integrity of the market is the foundation. We indicated that it is important that our market develop in terms of becoming broader and deeper. That it was important that we address issues of accountability and disclosure.

But it was also most important that we’ve sent a very strong signal about our zero tolerance for anything that is improper. And

We are a bit concerned also about strengthening the framework for regulating market making. So recently, we asked the Exchange and the market makers for returns and we are realising those returns so that we can make sure that people are abiding by the rules that we have established for market making. We also announced merging lists on a periodic basis, so before the end of the month, we will start publishing them on our website

that at SEC, we are not just going to talk, we are actually going to show that through our actions and I believe that the recovery that we are seeing in the Nigerian stock market today is very much as a result of restoring investor confidence.

In 2012, the All Share Index rose by 35.45 per cent. Since the beginning of the year, our market has risen almost by almost 19 per cent.

So, the backbone is really the reform agenda of the SEC. but we are not resting on our oars, both in trying to ensure that we do not have the asset bubble that we had prior to 2008.

Because what you had prior to 2008 was an asset bubble, it did not reflect fundamentals at the time. What the market reflected was euphoria – people were just basically panting and there was of course some of the abuses like share price manipulation, which we ensured are no longer with our market.

So, we are not resting on our oars in terms of making sure that no one is taking advantage of the rise that we are seeing in our market.

But also, we also recognise that deepening the market is an agenda that we must continue. That is, deepening it in terms of the number of companies that are listed on the NSE, it is for this reason that we worked with the NSE to review and revise the listing requirements.

And for the first time in a long time, we have listing requirements that allow companies in certain sectors to consider listing. Exploration and production companies particularly those that are promoted by indigenous firms are going to list in the next few years. Some of them we expect to list if not this year, next year.

What are you doing to revive the second tier market?

We also recognise that given President Jonathan’s agenda for job creation, we must support small and medium scale enterprises. We must support them so that they can grow because one of the weaknesses we have found in our economy is that companies tend to stay where they are, they are not growing like you see in the developed markets.

So, what the stock exchange has done and is working on, is revamping the second tier market like the alternative security market very similar to what you have in the U.K, that is the alternative investment market or that of South Africa on the Johannesburg Stock Exchange.

The second tier market is very important because the jobs will come from the small companies, the small companies will grow.

We also feel that it is an ecosystem and that it’s not just about the listing agenda, that is why we are also working on reviewing our rules on venture capital and private equity because the companies that nurture small and medium scale enterprises are actually venture capital and private equity companies.

Also, one of the weaknesses that were identified about our market is liquidity. If people can enter and exit easily, that is important.

So, last year, we also approved the market-making role so that we can have liquidity. I believe we have started to see the effects of those rules.

We are a bit concerned to also strengthen the framework for regulating market making; so recently, we asked the Exchange and the market makers for returns and we are realising those returns so that we can make sure that people are abiding by the rules that we have established for market making.

We also announced merging lists on a periodic basis, so before the end of the month, we will start publishing them on our website, because I think its very important that people understand in a very obvious manner what that merging list is all about.

We approved regulations and rules for securities lending, and rules for short selling. We believe that those are particularly important for sustaining the performance we have seen on the stock market. The other thing of course is that we believe that some new products will also sustain the market particularly Exchange response.

What are the new steps being taken by your administration about the huge unclaimed dividend saga?

Indeed, the unclaimed dividend issue is something that should not exist. What we are doing is requesting returns from registration returns from CSCS and returns from companies that are listed so that there is a reconciliation of exactly what the data is.

So, on the global basis, even though there are numbers, but what we want to understand is where are those unclaimed dividends coming from? We are also doing targeting inspections based on our mission analysis and where we think we are coming from, of registrars, of companies.

We have been told that despite the agreement that banks would pay dividends into savings account, that some banks still don’t do that.

So, one of the things that we would do is to seek the support of the central bank to encourage banks to do so.

We understand that the know-your-customer issue that they do on current accounts is much more rigorous than what they do on savings accounts.

But we believe that the number of retail investors in our country is not as many as the number of banking customers’ so banks can put in the effort to do the know-your-customer or they can allow people who have accounts to receive the dividends in their savings.

So, that’s something that we think will reduce the incidence of unclaimed dividends.

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NigeriaCapitalMarket NSE Daily Summary (Equities) as at Friday PRICE LIST OF SYMBOLS TRADED FOR 15/3/2013

THe GUArdIAN, Monday, March 18 2013

CAPITAl MArKeT 65

NSE Daily Summary (Equities) as at 15/3/2013

PrICe GAINerS

lOSerS

FGN bonds record N21.7b transactions in one week

By Helen Oji He Over-The-Counter (OTC) market for FGN bonds, last week recorded a turnover of 2.550 billion shares worth N21.694 billion in 29,335 deals in contrast to a total of 1.928 billion shares valued at N20.990 billion that changed hands in 28,832 deals in the preceding week.

Specifically, last week, the financial services sector was the most active in volume terms, contributing 81.20 per cent to the turnover volume of 2.071 billion shares valued at N14.281 billion exchanged hands by investors in 16,956 deals.

With transactions exchanged in 11,659 deals, the banking sub-sector was the most active during the week

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with 1.618 billion shares worth N12.279 billion.

Precisely, volume in the financial sector was boosted by activities in the shares of Unity Bank Plc, UB A Plc, ecobank Transnational Incorporated Plc, as volume in the shares of the three banks accounted for 965.890 million shares, representing 59.71per cent, 46.65per cent and 37.88per cent of the turnover recorded by the subsector, sector and total equity for the week, respectively. during the week, 577 units of NewGold exchange Traded Funds (eTFs) valued at N1.405 million were traded in seven deals compared with a total of 846 units valued at N2.035 million transacted last week

in seven deals.

Also, 2,020 units of FGN bonds valued at N2.422 million were traded during the week in 20 deals in contrast to 2,536 units valued at N3.096 million transacted last week in 26 deals.

Price gains by most companies lifted The Nigerian Stock exchange All-Share Index by

0.31per cent to close at 32.950.08.

Similarly, the equities Market Capitalisation gained N32.309 billion to close at N10.544 trillion.

Also, the Bloomberg NSe 30 Index appreciated by 0.36per cent to close at 1, 578.47.

Four of the NSe sectoral indices appreciated:

Bloomberg NSe Consumer Goods, Bloomberg NSe Insurance, Bloomberg NSe Oil/Gas and NSe-lotus II rose by 2.01 per cent, 1.33 per cent, 1.87 per cent, 0.77 per cent respectively, while the Bloomberg NSe Banking declined by 0.80 per cent to close at 411.36.

A review of the equity price

movements indicated that 41 equities gained while 37 equities recorded price declines and119 equities remained constant.

When compared with the preceding week, 36 equities gained while 44 equities recorded price declines and one hundred and117 equities remained constant.

Shareholders’ group seeks review of statute bar on unclaimed dividend

By Helen Oji HAreHOlderS’ group, SProgressive under the aegis of Shareholders Association of Nigeria, has urged the Securities and exchange Commission (SeC) to propose a bill to the National

Assembly for the review of the section of the Companies and Allied Matters Act (CAMA), which refrains shareholders from claiming dividend warrant after 12 years.

The National Coordinator of the Group, Boniface Okezie, in a chat with The

Guardian, lamented the spate of rising unclaimed dividend rises.

He maintained that unless the CAMA, which says that unclaimed dividends would be reverted to companies after 12 years is reviewed and allows investors to claim their

dividend at any given time no matter the number of years, the issue of unclaimed dividend in the Nigerian capital market cannot be tackled.

Unclaimed dividends in the market are said to be over N52 billion and rising by each day.

66 INTERNATIONAL ECONOMY

THE GUARDIAN, Monday, March 18, 2013

Euro finance ministers grant Ireland, Portugal eased debt terms Cyprus bank’s deposits to be taxed over bailout URO-area finance ministers agreed to E extend maturities on rescue loans to Ireland and Portugal, easing the terms on two recipients of European bailout aid in a show of support for their commitment to austerity.

The ministers gave no details on the extension. Those will be worked out by the socalled troika that oversees euro-area bailouts and the European Financial Stability Facility, the currency bloc’s temporary rescue fund, the finance chiefs said today.

The details will be presented to euro ministers at the same time as the memorandum of understanding underlying a rescue program for Cyprus.

“The Eurogroup ministers are determined to support Ireland’s and Portugal’s efforts to regain full market access and successfully exit their well-performing programs, in the context of continued strong program implementation and compliance,” the group said in a statement in Brussels.

Ireland and Portugal have sought to return to the bond market after soaring yields prevented their governments from borrowing in 2010 and 2011.

Ireland sold 10-year bonds this week for the first time since receiving its bailout assistance, marking a milestone in overcoming the debt crisis.

Meanwhile, Euro-area finance ministers agreed to an unprecedented tax on Cypriot bank deposits as officials unveiled a 10 billion-euro ($13 billion) rescue plan for the country, the fifth since Europe’s debt crisis broke out in 2009.

Cyprus will impose a levy of 6.75 percent on deposits of less than 100,000 euros- the ceiling for European Union account insurance- and 9.9 percent above that. The measures will raise 5.8 billion euros, Dutch Finance Minister Jeroen Dijsselbloem, who leads the group of euro-area ministers, told reporters early today after 10 hours of talks in Brussels. The euro region’s bailout kitty and, possibly, the International Monetary Fund will look to make up the shortfall. A partial “bail-in” of junior bondholders is also possible.

Officials have struggled to find an agreement that would rescue Cyprus, which accounts for just half of a percent of the euro region’s economy, without unsettling investors in larger countries and sparking a new round of market contagion.

Policy makers began meeting at 5 p.m. yesterday in a hastily convened gathering, seeking to overcome differences on bondholder losses while financial markets were closed.

“Further measures concern the increase of the withholding tax on capital income, a restructuring and recapitalisation of banks, an increase of the statutory corporate income tax rate and a bail-in of junior bondholders,” according to a communique released by ministers after the talks. It didn’t specify whether bank or sovereign bond holders could be affected.

The European Central Bank will use its existing facilities to make funds available to Cypriot banks as needed to counter potential bank runs. Depositors will receive bank equity as compensation.

Finance Minister Michael Sarris said the plan was the “least onerous” of the options Cyprus faced to stay afloat.

“It’s not a pleasant outcome, especially of course for the people involved,” said Sarris.

The Cypriot parliament will convene tomorrow to vote on legislation needed for the bailout.

While the tax on deposits will hurt wealthy Russians with money in Cypriot banks, it will also sting ordinary citizens. Some ATMs in the country have run out of cash, Erotokritos Chlorakiotis, general manager of the Cooperative Central Bank, told staterun CYBC. Funds to pay the levy were frozen in accounts immediately, ECB Executive Board Member Joerg Asmussen said. The levy will be assessed before Cypriot banks reopen on March 19 after a March 18 national holiday.

Sarris said electronic transfers will also be limited until then.

“As it is a contribution to the financial stability of Cyprus, it seems just to ask a contribution of all deposit holders,” Dijsselbloem said, noting the country’s financial industry was five times the size of its economy. The plan includes “unique measures” that address the “exceptional nature” of Cyprus and show “inflexible commitment to financial stability and the integrity of the euro area.”

The IMF will consider contributing money

to the rescue, said IMF Managing Director Christine Lagarde, who travelled to Brussels for the talks. “We believe that the proposal as outlined by Jeroen is actually sustainable,” she said.

Euro ministers expect the region’s bailout fund, the European Stability Mechanism, will approve a bailout proposal “by the second half of April 2013 and subject to completion of national procedures.”

Skeptics Cyprus pledged to step up asset sales and enact budget cuts amounting to 4.5 percent of gross domestic product. The aid program, which should be completed by the second half of April, calls for its debt to be 100 percent of GDP by 2020. The EU forecasts it at 93 percent this year. The deal calls for the banking sector to shrink substantially by 2018.

Skeptics including Luxembourg’s JeanClaude Juncker had said that imposing investor losses in Cyprus risked reigniting the financial crisis that has so far pushed five of the euro zone’s 17 members to seek aid.

Last year, the euro area took what officials called a unique step to ask Greek bondholders to absorb losses.

Lagarde

Asmussen said tapping deposit holders was needed to expand Cyprus’s tax base.

European Union Economic and Monetary Affairs Commissioner Olli Rehn called the assessment a strictly fiscal measure.

Rehn had warned against so-called haircuts on depositors to avoid setting a destabilizing precedent.

When asked if a deposit assessment could be ruled out for future rescues, Rehn said in an interview: “It can and there is no concrete case where it should be considered.”

“This kind of stability fee is clearly a much better choice from the point of view of financial stability and Cypriot citizens than a fullscale bail-in, which would have led to very chaotic consequences in the Cypriot economy,” he said.

Cypriot banks are on track to regain access to ECB emergency lending facilities once they have been successfully recapitalized, Asmussen said. Cyprus is “systemically relevant” and needs assistance to ensure stability of the euro, Asmussen told reporters.

The ECB also will be available to euro-area banks that may need extra liquidity, Asmussen said. Authorities plan to ringfence Cypriot bank branches in Greece,

through transactions with Greek banks that won’t require money from Greece’s rescue funds, he said.

Corporate tax rates in Cyprus will rise to 12.5 percent to 10 percent as part of the deal, Dijsselbloem said. Rehn told reporters that Russia, whose banks have loaned as much as $40 billion to Cypriot companies of Russian origin, would ease terms on its existing loans to Cyprus as the rescue unfolds.

Cyprus’s finance minister is scheduled to fly to Moscow on March 20.

At the talks, the ministers also agreed to give extra time to Ireland and Portugal to repay loans to the European Financial Stability Facility. The euro group, IMF and ECB will approve the details of the extensions and the Cyprus deal once technical details have been ironed out and national parliaments have acted as needed, the finance ministers said in a statement.

Meanwhile, Britain’s economy shrank more than forecast in the fourth quarter as the boost from the Olympic Games unwound and oil and gas output plunged, leaving the country on the brink of an unprecedented triple-dip recession.

Gross domestic product dropped 0.3 percent from the three months through September, when it grew 0.9 percent, the Office for National Statistics said today in London. That compares with the median of 38 estimates in a Bloomberg News survey for a decline of 0.1 percent.

The pound fell as the drop highlighted the challenge Prime Minister David Cameron’s government faces to secure momentum in the economy more than three years after it emerged from the deepest recession since World War II. While jobless benefit claims have fallen to a 1 1/2-year low, a budgetdeficit squeeze may keep weighing on growth while heavy snow this month has raised the possibility of a further quarterly contraction.

“One-time factors are playing a part, but nonetheless the GDP number is extremely disappointing,” said Philip Shaw, an economist at Investec Securities in London.

“The talk around the U.K. economy is now all going to be about, are we in a triple dip, which is not great for confidence. If we continue to see weak data, more stimulus becomes a possibility.”

The pound fell as much as 0.3 percent against the dollar before recovering and was trading up 0.1 percent at $1.5804 as of 12:37 p.m. in London. It fell against the euro to the lowest in more than a year and was down 0.5 percent at 85.14 pence per euro. The yield on 10-year gilts rose 4 basis points today to 2.05 percent.

67

THE GUARDIAN, Monday, March 18, 2013

Opinion Integrity in the problem of corruption

By Ladipo Adamolekun “He that shaketh his hands from holding of bribes, he shall dwell on high” – Isaiah 33:15 LMOST every professional association worldA wide includes “integrity” as one of its core values. In the specific case of the Institute (Institute of Chartered Accountants of Nigeria, ICAN), it is part of the motto: “Accuracy and Integrity”. In coupling ICAN’s commitment to integrity with the problem of corruption in Nigeria, I wish to make the point that if ICAN members in both the public and private sectors were to consistently exhibit integrity in the discharge of their functions, the problem of corruption in Nigeria would become less pervasive and less destructive than it is at present.

I decided to draw attention to the problem of corruption because I belong to the school of thought that considers pervasive, systemic and institutionalised corruption as the major explanatory factor for the deepening poverty and worsening insecurity in the country. The strong linkage of corruption to poverty and underdevelopment that is extensively documented in the development literature makes fighting corruption in Nigeria a priority concern for all those who would like the country to achieve two of the national goals that have eluded us since we articulated them in the 1970-74 Second National Development Plan: (i) “a great and dynamic economy and (ii) “a land of bright and full opportunity for all citizens”. Nigeria will not be able to achieve “a great and dynamic economy” as long as the huge waste and indiscriminate looting of public treasuries persist, and we will not have “a land of bright and full opportunity for all citizens” as long as less than five per cent of the population capture, by hook and mostly by crook, 70-80 per cent of the country’s wealth. At independence, poverty rate in Nigeria was 15 per cent. Today, poverty rate is about 70 per cent.

Tackling Nigeria’s corruption monster in a systemic manner would require the president and head of state taking on the role of supreme anticorruption champion – this is the lesson from almost every country that has achieved or is achieving low corruption: Singapore and Botswana have achieved it, and Brazil is convincingly engaged on that path. (According to incumbent Brazilian president, Dilma Rousseff, combating corruption is “state policy”). From Shagari through Buhari, Babangida and Abacha to Obasanjo and Jonathan, only Buhari came close to acting like an anti-corruption champion.

Although former President Obasanjo sensibly es-

tablished two anti-corruption institutions, his acts of omission and commission limited their effectiveness. Incumbent President Goodluck Jonathan does not believe in public declaration of assets (one of the key instruments for fighting corruption) and he would rather encourage Nigerians to change their attitudes (a nebulous idea) than champion prompt and severe punishment for corrupt officials, including their debarment from public office. (“I don’t give a damn about it if you want to criticise me from here to heaven.

Channels Television can talk about that from morning till night, all the papers can write about it. It’s a matter of principle [that is, decision not to publicly declare his assets]) – President Jonathan, June 24, 2012 during media chat in Aso Rock. And the Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) recently summed up the prevailing situation accurately as follows: “No political will to fight corruption” in Daily Trust, February 14, 2013.

Given the strong evidence that corruption continues to undermine the economy, pollute our politics, and erode the moral fabric of the society, there is need to explore alternative strategies for taming the monster. (Nigeria’s persistent low score in the annual Corruption Perception Index published by Transparency International since the mid-1990s, refers). A possible alternative to fighting corruption from the top is an incremental strategy that would comprise strengthening anti-corruption civil society groups and promoting the emergence of pockets of “clean” professionals who, through their key positions in the public and private sectors, can act with integrity and prevent/expose corrupt behaviour. Specifically, I would like to strongly recommend that ICAN accepts to become a champion of anti-corruption through (i) enforcing rigorously its integrity code in respect of its members and publicising infractions together with the sanctions meted out to the guilty members and (ii) mandating its members to henceforth resolve to become whistle blowers whenever and wherever they witness corrupt behaviour.

Without question, professional accountants contributed to the world-wide economic crisis (recession) of 2008-2009 whose disastrous consequences are still responsible for negative to low growth and huge unemployment in many industrialised countries such as Greece, Spain and the USA. The weakened industrialised economies have, in turn, impacted negatively, in varying degrees, on both the emerging and developing economies. Virtually as a prelude to the 2008-

2009 recession, there were some financial scandals for which professional accountants were the major culprits, especially Enron (2001) and WorldCom (2002) scandals. Enron is widely regarded as the biggest audit failure ever and this resulted in the de facto dissolution of Arthur Andersen, which was one of the five largest audit and accountancy partnerships in the world. Regarding WorldCom, the company’s profit was inflated by some USD$7 billion.

In the Nigerian case, the most recent illustration of financial scandal is the evidence provided in the latest Global Financial Integrity report (2012): $129 billion illicit money was exported from Nigeria between 2001 and 2010, $19.66 billion alone in 2010 and an average of $12.9 billion per year. According to one of the national dailies, “The humongous amount was moved by corrupt politicians, business men, drug barons and other assorted criminals”. (Leadership, February 14, 2013). It is certain that professional accountants were involved, in varying degrees, in these criminal acts but there were no stories of accountants blowing the whistle! Other scandals in Nigeria in which accountants have been involved include: • Cadbury scandal (2008).

• Scandals in the banking and finance sector (2009).

• N2.6 trillion fuel subsidy scandal (2012).

• N3 trillion pension fraud (2012).

If these scandals are not arrested, the prediction that Nigeria could become a leading world economy in 2030 (U.S. National Intelligence Council Report, “Global Trends 2030: Alternative Worlds”) might not become a reality. Instead, we could have our own home-grown economic recession before 2030. And it is worth stressing that economic forecasts are as unreliable as weather forecasts.

In encouraging ICAN to formally and unequivocally accept the role of an anti-corruption champion, I am in the good company of one of your illustrious members, David Dafinone, patriarch of the family that has produced the largest number of accountants in human history (Guinness World Records). He said, “Many of our members connived in siphoning our collective wealth into private pockets, but not once did ICAN raise its voice to rebuke or punish any of such members. The accountant has become a ‘mule’, the vehicle for the transfer of state funds for top government officials.

How many fraudulent money transfers have been made in which the accountant is not part?” – David Dafinone cited in “Challenge to ICAN”, Vanguard, editorial, December 20, 2005.

My earlier recommendation that ICAN should rigorously enforce its integrity code in respect of its

members and publicise infractions together with the sanctions meted out to the guilty members is consistent with what Dafinone had advocated about seven years ago. I added that ICAN should mandate its members to henceforth resolve to become whistle blowers whenever and wherever they witness corrupt behaviour. Of course, the primary responsibility of the accountant in both public and private organisations is the enforcement of financial accountability: he/she has the training, the techniques and tools for carrying out this responsibility. I wish to add that ICAN as a professional association and its members in their individual capacities should also seek, to the extent possible, to support: • Advocacy for public declaration of assets because transparency helps to reduce corruption; • Advocacy for commensurate punishment for persons involved in corrupt practices and the export of the proceeds of corruption; • An end to unpunished corruption, including immunity clause in the 1999 constitution; and • Opposition to plea-bargain that is unknown to Nigerian legal system. (To date, “beneficiaries” include former Governors Alamieyeseigha and Lucky Igbinedion, former Inspector General of Police, Tafa Balogun, senior banker Cecilia Ibru, and the N27 billion pension thief, fined N750,000).

ICAN’s adoption of an anti-corruption champion role will significantly weaken the triangle of corruption that is at the heart of the corruption problem in Nigeria: public service staff, politicians in both the executive and legislative arms of government, and private sector operators (domestic and foreign) who interface with them. This crucial weakening of the corruption triangle will happen if ICAN members in public bureaucracy, in the political class, and in the private sector resolve to henceforth not only become “clean” professionals but also accept to consistently prevent/expose corrupt practices, including blowing the whistle, when necessary. And I would add that this admonition that ICAN members become “clean” professionals extends to those members who are overseers, pastors, imams, deacons and deaconesses (see Isaiah 33:15). This is because, as we are all aware, religious organisations are the beneficiaries of significant proportions of the proceeds of corrupt practices in both the public and private sectors. Today, I urge ICAN to publicly commit to an anti-corruption champion role, not in words only, but in deed and in truth!

• Adamolekun is a professor of Public Administration and a former Dean of the Faculty of Administration, OAU, Ile-Ife.

Distorted federalism and pervasive insecurity (2)

By John Uwaya Continued from yesterday N the whole, the quality of governance playing out before our eyes makes it clear that the 1999 Constitution was deliberately scripted to suit and sooth the cravings of strongmen. It rewards mediocrity and indolence while discouraging industry. The lavish lifestyle of public office holders discourages hardwork and encourages crime. Citizens are being tempted to engage in criminality, violence and terrorism. And even though all these problems engendering insecurity have their roots in our system of government or constitution, those that are benefitting from the present defective political arrangement fiercely oppose a national conference for a truly people constitution.

The reason is not far-fetched. They are the pawns in the divide and rule game which the 1999 Constitution was scripted to give a structure. With a provision for central government funding of administrative centres most of which are economically unviable, the architects of the 1999 Constitution pandered to the selfish instincts of the other tiers of government and beneficiaries never to see reason to support any struggle for true federalism. By way of corroboration, national newspapers reported some months ago that some southern states whose survival is umbilically tied to allocations from the “national wealth” are realigning forces with some in the north in place of their southern counterparts for a more favourable revenue sharing formula.

Also, that is why any meaningful constitutional review is not feasible. For, according to Chief A. K. Horsefall, OFR, …Judging from what the new breed of politicians have so far enacted since 1999 to date, it will be interesting to note that the tendency has been to consolidate power in their own hands, not the institution of government at their levels, and in so doing they give less and less room to the ordinary citizen to express himself and exercise his God-given rights of citizenship.

Similarly, no one should be deceived about talks of party mergers to unseat the ruling party. With a 1999 Constitution that concentrates so much power at the centre, talk of unseating the ruling party is a pipe dream. Opposition victories here and there should not be carried too far as it appears the ruling party only conceded a handful of states to give semblance of multi-party democracy. In fact, the opposition owe their ascendency in those states to the “magnanimity” of two strongmen, which is why they could equally

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have the carpet pulled from beneath their feet for a return to status quo. Had President Yar’Adua’s decision to unfetter the judiciary and his successor’s autonomy to INEC not resuscitated the opposition, it would have been bye bye to multi-party rule in Nigeria by now.

Right now, if the president, buoyed by the defective 1999 Constitution, were to bare his fangs like one of his predecessors did, his party could snap up or “capture” opposition states without qualms. After all, when his archrival at their last presidential primary castigated him for conceding defeat on their former states to the opposition, he could have merely echoed the voice of many party members.

So, if those planning to wrestle power from the ruling party are actually after good governance and not for their own turn to wield the same absolutely dangerous and corrupting power conferred by the 1999 Constitution, they should rather fight to usher in true federalism to pave way for a polity driven by ideas and merit. Otherwise, with the constitution placing 58 per cent of the nation’s wealth and control of key state institutions at the ruling party’s behest, the amalgam of parties have an uphill task ahead. What is more; that fear was recently corroborated by a former head of state – a high-ranking figure in the party merger talks.

To conclude, at the Republican Convention preceding last year’s presidential election in the U.S., the republican governor of Arizona State was traditionally expected to speak in support of a republican presidency. Instead, she stunned the entire world at a press conference by “endorsing” their rival. To me that was the first inkling that their opponent was going to win because whether or not her action was a Freudian slip, it was clear President Obama’s superlative performance had so ingrained him in the American electorate’s psyche far beyond partisan lines. That made his victory a foregone conclusion.

Similarly, whichever side of the federalism debate our country’s number one cop actually belongs, consider his recent submission: …we must all endeavour to put our differences aside and focus on the voyage of championing the protection of the legacies bequeathed by our founding fathers. Therefore, it is high time we said, “enough is enough” to subterfuge, pretense and insincerity. We should resurrect and champion the true federalism that our founding fathers bequeathed to us. Without further delay, there should be a national conference where accredited representatives of all the ethnic nationalities will determine the basis of our continued co-existence within a true federal structure.

We should not linger to learn the hard way like our founder – Britain, which after protracted and decades of debilitating self-determination struggles by the IRA, especially, devolved power to England, Wales, Scotland and Northern Ireland. Neither should we go the way of the erstwhile USSR who lost out altogether in the sudden disintegration into bits of hitherto forcefully amalgamated states many of which are now less politically and economically viable.

Again, power staying or returning to any geopolitical zone is out of the question because, of the particular geopolitical zone that has held power the most and which unilaterally gave us the present constitution, Lt. Gen. T. Danjuma (rtd) has this to say: …We are in the middle of a civil war in northern Nigeria. There is no defined front in this particular war and worse still, the enemy is faceless and unknown. There is no immunity for anyone. The war is highly contagious and regrettably, we have no suggested solution.

That is now the grim prospect of a region of this country that betrayed public trust to help herself to a whopping 83 per cent stake of the nation’s oil wells. And according to Prof. Tam David-West: Owning an oil block is like getting a gold mine. It amounts to billions of dollars. It shows the high level of corruption and in-discipline in the leadership of the nation. Yet, the fabulous wealth is concentrated in the hands of just 13 families who live like they are hand in glove with their politicians to deny their teeming masses benefits of the commonwealth. That partially explains why the masses’ revolt is more severe in their part of the country. Besides, with an individual average monthly take-home of four billion naira the circle of 13 or a fraction is so powerful as to easily takeover a country whether by default or design should they lose their temper.

So, while we must keep watching over our shoulders, we should thank God that thus far, only parts of the country are ungovernable.

The security situation in those places is so precarious that according to Alhaji Usman Farouk – an elder statesman – some governors in that region now govern from exile in safer states. Again, all that is the fallout of bad governance buoyed by absolute power or dictatorship over decades. And regrettably, it is “same of the same” that the 1999 Constitution confers. Undiluted or devolved, absolute power will always corrupt absolutely, no matter who holds it. And as long as a handful of strongmen and women keep subjugating popular will to realise selfish ends, pervasive insecurity is beckoning.

• Concluded.

• Uwaya lives in Lagos and wrote through johnuwaya17@yahoo.com

THE GUARDIAN, Monday, March 18, 2013

68

Opinion Fr. Kenny: A sign of contradiction

By Moses Ohaegbuchi T 1:45pm on Thursday, February 28, 2013 the A mortal remains of Rev. Fr. Joseph Peter Kenny OP, a remarkable man I have ever stood in awe of was laid to rest, having passed on to the great beyond on January 28, 2013 at the age of 77. Although an American by birth, he has lived in Nigeria for the past 48 years and has gone ahead to get Nigerian citizenship. A retired Professor of Islamic Studies and contemporary Religion at the University of Ibadan, specialist in Islamic and Arabic Studies, theologian, philosopher, documentalist, columnist, author, conservationist, bee keeper, musician, composer, liturgist, linguist; in fact, he can be best described as a polyglot. He had a reading and speaking knowledge of about 13 languages most of which were on the expert grade. The languages are: English, Latin, Greek, Hebrew, Italian, French, German, Spanish, Hausa, Arabic, Yoruba, Dutch, and Portuguese.

The life of Fr. Kenny was of an immense proportion that transcends pictorial boundary. Little wonder that his demise has attracted so many positive comments across the globe particularly among academicians whom he gave so much. His name has remained indelibly etched in public consciousness. The remarkable thing on all that has been said about him is the fact that nobody was repeating each other. He was one of the founding fathers of the Dominican Institute and taught here all his life.

I had the privilege of being one of his students at the Dominican Institute, Ibadan, where he taught me Islamic Philosophy (PHI 313) and Introduction to New Testament Greek (RCS 316).

Father Kenny served as the Dean of studies and professor at the Institute. Priests, bishops, imams, professors and senior lecturers in different universities and institutions had the privilege of his tutelage. He laboured to promote scholarship and orthodoxy, the marriage of faith and reason, the cause of inter-religious dialogue, harmony and friendship between Muslims and Christians. But beyond the moments shared together in the class at the Dominican Institute, Ibadan, there was so much to remember this unusual character for. He will be widely remembered as the white guy that rode a white motor bike around the streets of Ibadan, a regular feature at Christmas Concerts in UI, an objective and dedicated academic, a good example of what it meant to be efficient.

At the University of Ibadan, Catholic Chaplaincy, staff and students referred to him as ‘Father Sharp Sharp.’ This is because his Sunday

Masses were celebrated within a short time, yet beautifully done with his brief homilies and carefully selected hymns. He often dashed to the piano to particularly play the post-holy communion song. He is always conscious of time. At one of his Masses, while dwelling on the frequent occurrences of sins, he had instructed the congregation in these words, “if you want to get the devil to stop tempting you, get busy with your time.” Every passing second meant a lot to him, he was engaged in one form of productive activity or the other. One was left to wonder if he was chasing deadlines or the other way round.

As a teacher, he dissipated much of his energies in the services of his students and the church in general. As a religious priest that belonged to the order of preachers (Dominicans), he took the evangelical councils of poverty, chastity and obedience. All through the four years of my study at the Dominican Institute, I never saw him wear shoes. He was example of radical poverty. He lived to the fullness the vows he professed.

He is full of empathy and understanding. I remember the time my uncle and benefactor died and the burial date coincided with the day we were to write Fr. Kenny’s exam paper, I explained to him and obliged me to go for the burial with a caveat that I take the exam immediately I come back from the burial. During his exams, he prefers you to give him short but straight to the point answers not giving room for voluminous stories or details.

“To love a Muslim is Christian” was an inscription boldly written at the entrance door to his office. He left a legacy of respectful dialogue and engagement with men and women of other faith and traditions and a legacy of mutually respectful coexistence with persons of other backgrounds and beliefs. For those who had the privilege of meeting and associating with this extraordinary academic and advocate of religious tolerance, the passage of this renowned Islamic scholar marks the end of an era.

In a country like Nigeria, where too much protocol and bureaucracy are the order of the day, he stood as a sign of contradiction to whatever protocol or bureaucracies you put up because he will go all out to get the job done not minding the time. He detested protocols. You could meet him along the footpath or roadside and he will attend to you. Rev. Fr. Kenny was always ready to allow you access to his many library collections both hard and soft copies. In his website, you find some of his collections that one has a complete free access to books and articles. These all together are available on his

website: www.josephkenny.joyeurs.com. Till his death, he was an epitome of assiduous studies.

He wrote over 230 books and articles on various areas of theology and philosophy, Thomism, Metaphysics, Liturgical Music, Islam, Inter-religious dialogue and various other social issues. He was also a columnist with The Guardian newspaper and Independent Catholic newspaper.

Here is a patriotic American by birth, who believed so much in Nigeria that he decided to take Nigerian citizenship. And he was always proud to show anyone who cares to see his Nigerian passport. He narrated his experience at the Lagos airport passport control room… “I get in the Nigerian line. The security people grumble, you don’t belong there; you are in the wrong line. I flash my Nigerian passport, its smiles all around”. He stood as a sign of contradiction in a country where our leaders and the so-called rich men get their wives pregnant and send them to the USA or Europe for them to be delivered of their babies so that they become citizens there. As a Nigerian citizen, he patriotically voted with excitement in the last general election and after observing what transpired during the election, he gave 95 per cent to the outcome of the election.

One will think that Ave Joe, as his fellow Friars fondly called him, was too engrossed in his own world. But he had time to make friends and relate very well with people. He had a lot of Muslim friends and visitors, many of who were amazed at the depth of the Islamic and Arabic knowledge. To some, he was a mystery and a contradiction. How could a catholic priest be so passionate writing and discussing Islam?

There are so many other things to remember Fr. Kenny for. He was a man of many parts. The Muslim community cannot forget him for his sincere love and the tireless efforts to build bridges of understanding and peaceful co-existence. Expectedly, his long years of intellectual and academic career have brought him in contact with so many other scholars across the globe and so he has truly a wide network of friends, colleagues, associates and acquaintances who will miss him greatly.

But he has also a lot of academic progenies who are the first fruits of his fecund mind.

These generations of Nigerians and non-Nigerians will remain grateful for his example of true scholarship. It is, indeed, remarkable to see even Muslim scholars come to consult him on issues and questions of Islamic scholarship. But what is even more remarkable is the great respect with which he approaches issues and questions on Islamic scholarship. That would

even make some Christians to wonder if he was really a catholic priest but he would go ahead to reassure them of his calling. Indeed, Prof.

Kenny’s interests and aptitudes were multiple, varied and sometimes contrasting. This is what makes him an unusual, uncommon and unconventional person. He left a legacy of respectful dialogue and engagement with men and women of other faith traditions and a legacy of mutually respectful coexistence with persons of other backgrounds and beliefs. No wonder the unusual kind of amity that existed between him and the Islamic community.

Just like the 13th Century Dominican, St. Albert the Great, he was versed and well known for his love of nature. Fr. Kenny was also very much interested in the world of nature. He was a beekeeper. Thus, he belonged to the Nigerian Field Society (NFS) and was the editor of their journals for many years. He was interested in trees, especially fruit trees that are endemic in the equatorial region like Nigeria. He planted several different species in the Ibadan community of the Dominicans.

The dates of Fr. Kenny’s death and burial are quite significant. His exit was totally in character. He died on January 28, which is the liturgical feast day of St. Thomas Aquinas, model of Dominican intellectual life and patron of Catholic theology whom Father Kenny was his disciple.

He widely read and enthusiastically promoted the works of this renowned Dominican saint and scholar. Fr. Kenny was buried on February 28, a remarkable day in contemporary Catholic history, when His Holiness, Pope Benedict XVI, a notable intellectual, formally resigned as Pope and Bishop of Rome, showing us the lesson of uncommon courage and honesty.

May we all learn through his death that life is not about taking but more about giving – giving oneself, talent, time and treasure for others and for the good of the society. And to his Dominican family, remain united in the footprints of the great Ave Joe. Even the best of us has defects. It is, therefore, our duty to commend the soul of Father Kenny to the mercy of Almighty God. Since he has fought the good fight and upheld both the faith and the dignity of man, we pray God who promised to give life to the just to accept him into His Kingdom where we meet to part no more. Alhaji, as you sojourn to the great beyond, march on, for heaven and earth have borne true and eloquent testimonies of a life well-lived and your colossal end. March on; history will be fair to you.

• Ohaegbuchi, former student of Fr. Kenny, wrote from Ibadan.

Women’s place in a better society

By Amina Lawal T is difficult to state the exact period when the struggle for Isafewomen empowerment became a discernible force, but it is to say that contemporary society is, more than ever before, involved in a struggle to fight against all forms of injustice and cultural practices that are contrary to natural justice, equity and good conscience.

Women empowerment could be said to be a struggle to liberate women from all forms of social injustice and discriminatory practices that subject them to inferior status on the basis of their gender in order to give them equal political, social and economic rights. Women’s empowerment advocates equal treatment of all citizens regardless of gender.

All modern constitutions and international treaties have incorporated adequate provisions on equality and fairness irrespective of ethnic origin, political, religious affiliations or gender. For example, chapter four of the 1999 Constitution of Nigeria provides for equality of all Nigerians and condemns discrimination and deprivation by reason of the circumstances of a person’s birth.

In Nigeria, women are often the most vulnerable members of a society. This inequitable treatment makes it unattractive to raise female child. It negatively affects women’s confidence, resilience and ambition. It is common to use customary practices to discriminate against women because customary laws and practices constitute a major source of law and enjoy wide acceptance. It is binding and enforceable.

The problem, however, is that embedded in the customary laws and traditions are practices that are seen as unjust and degrading. For example, in some cultures, women are not allowed to inherit their parents, participate in community

development and family matters. In others, the unequal treatment of women is based on narrow interpretations of religious scripts by the clergy. Evidently, despite various laws, these unjustified practices are evident in all phases of our individual and collective lives.

For substantial parts of our history, whether by design or omission in Nigeria, women were considered inferior and their participation at all levels of government discouraged. In fact, some communities considered it a taboo for women to take active roles in governance. Many qualified women were forced to play minor roles in the margins, or were frustrated out of governance. This was in spite of several international conventions and treaties that encouraged women participation in politics and governance.

In the educational sphere, government has been assisting vulnerable members of the society to realize their potentials.

Sadly, even in this area, women were marginalized by unsavoury customary practices. In some cases, women were viewed as intellectually inferior, a situation that frustrated investments in girl-child education and capacity development.

The results were that women often lacked requisite educational and personal skills needed to fill positions.

In the social sphere, women suffered (and still) suffer degrading treatment. Women were considered second-class citizens, and in some instances, treated with contempt and derision.

Worst yet, in matters that affect them directly and intimately, they were hardly consulted. Social exclusion of women gravely affected their collective lives in many ways. It caused disharmony in marital life, frustration and desperation.

Another area where women were discriminated against was in the economic sphere, where women were not considered fit and proper to own and engage in any meaningful investment

that will allow them grow and be financially independent.

Clearly, the struggle for women empowerment in Nigeria has come a long way, but it still has a long way to go before social, political, educational, and religious discrimination are eliminated. The government, as well as international organisations have played and must continue to play critical roles to challenge, confront and combat these unjustified practices. This however does not mean that the battle is won; a lot has to be done to ensure that women are empowered politically, socially, and educationally in line with best constitutional practices and international conventions.

So what is the way forward? First, we must ensure that provisions of the constitution that guarantee equality of all citizens are strictly observed, while those that tend to promote discrimination on the basis of gender should be expunged wherever they may appear. And second, government should intensify efforts to domesticate all international treaties relating to empowerment of women to which Nigeria is a signatory.

Finally, government should undertake campaigns of enlightenment and awareness to demonstrate that women are not inferior to men by virtue of their gender and that empowered women have important roles to play in society.

Nigeria cannot afford to continue to treat half of its population – and a significant part of the productive force – as inferior beings. We need to give our womenfolk the full chance to participate in all sectors of society because “shared responsibility and shared commitment will lead to shared prosperity”. Government should lead a campaign of political and economic empowerment of women because women empowerment would lead to the emergence of a better society.

• Lawal is a student of Mass Communication, Baze University, Abuja.

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Media AU commission seeks access to information in Africa

By Gbenga Salau N an era where accountability occupies a preIcitizens mium position in every sphere of life, many in Africa do not have opportunity to ask and demand from their leaders how the resources of the nation are being expended.

Many have argued that it is important that counties adopt information legislation because it would promote good governance and check corruption within the continent. Although the battle is gradually being won at a snail speed, country that takes bold steps to pass bills that promote freedom of information are usually commended.

This has been why the African Platform on Access to Information (APAI) welcomes the adoption of the African Union’s “Model Law on Access to Information for Africa” by the African Commission on human and Peoples’ Rights.

This comes with the news that Rwanda is now the eleventh country in Africa to adopt Access to Information law, indicating the increasing significance of access to information on the African continent.

The model law, which is intended to guide African states on the adoption of Access to Information Legislation, as well as provide benchmarks for their ‘effective implementation’ was adopted at an extraordinary session of the African Commission on human and Peoples’ Rights on the 25th of February 2013. It is hoped that this significant event would encourage governments throughout the region to draft and enact Access to Information Legislation in accordance with regional best practices.

Just two weeks after the adoption of the model law on March 2013 11, Rwanda formally gazzetted its Access to Information Law, indicating its government’s commitment to ensuring that its citizens can fully realise their right of access to information.

The law has been hailed as progressive with provisions applying to relevant private bodies, as well as provisions on public interest.

The new law brings the total number of countries with Access to Information Legislation in Africa to eleven. Currently, four countries in West Africa have Access to Information Legislation, followed by Southern and eastern Africa with three each, and Northern Africa with one.

There has been significant development in the last three years within the continent, which has helped to change the legislative landscape

Eyinnaba Abaribe, Chairman Senate committee on Information and Media

Minister of Information Labaran Maku around Access to Information.

In 2011, the number of countries with Access to Information Laws doubled. The same year saw the adoption of the African Platform on Access to Information declaration, as well as the largest gathering of Access to Information experts and advocates ever seen on the continent with the convening of the Pan-African Conference on Access to Information held in Cape Town, South Africa, in September 2011.

In 2012, the African Commission on human and Peoples’ Rights adopted Resolution 222, which called for the expansion of Article 4 relating to Access to Information in the Declaration of Principles on Freedom of expression in

Africa, by incorporating the principles of the APAI declaration and the AU Model Law, as well as requesting AU member states to officially recognise September 28th as International Right to Information Day in Africa.

Although, it is early in 2013, it appears from the onset that 2013 is shaping up to be another significant year for Access to Information campaigners, with the adoption of the Model Law, as well as the passing into law of Rwanda’s Access to Information legislation.

Building upon such regional developments, the APAI Working Group continues to advocate at all levels - international, regional and national - for a more open and transparent Africa, and

is currently advocating at the UN level for the official recognition of September 28th as International Right to Information Day. The APAI Working Group will monitor events carefully in Rwanda, where it is hoped that the new law will be successfully implemented, in addition to monitoring the impact of the AU Model Law on the continent.

The APAI Working Group calls on the other 43 governments in Africa that have not yet done so to take urgent steps to adopt national Access to Information Laws and give effect to the rights of their citizens to accessing information.

Oyo to sanitanise outdoor advertising he Oyo State Signage and Advertisement Agency T has said that the on-going sanitisation exercise across the state is not to witch-hunt any individual, group or corporate body. In a release signed by the Director-General of the agency Mr. Yinka Adepoju, it stated that the agency major goal is to transform Oyo State outdoor space in such a way that it will attract investors, particularly advertisers apart from promoting economic activities of the state.

Adepoju maintained that the agency’s primary assignment, which has to do with control and regulation, is not limited to collection of taxes but also involves engendering of orderliness and strict adherence to maintenance culture.

The purpose of advertisement control system, according to him, is to ensure that everybody involved in the display of outdoor advertising structures contributes positively to the appearance of an attractive and cared-for environment. he said that all advertisements or messages displayed affect the exterior of the building structure, and by extension, the environment he said that the agency would not hesitate to remove debtors’ billboards or signage, especially those who are yet to clear up their 2012 bills, in spite of several warnings to them.

A disused billboard on the roof of a building on one of the major roads in Ibadan

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THE GUARDIAN, Monday, March 18, 2013

How to protect consumers’ rights in Nigeria, by Stakeholders

By Gbenga Salau RANDS from Nigeria are already making B inroads into other African countries. But the consensus among many Nigerians is that con-

sumers who make these brands successful in Nigeria are not respected enough, with their rights willfully violated, despite a number of government agencies charged with the responsibility of protecting consumers’ interest and rights.

In other to truly make the consumer feel that he’s king and in the drive to make Nigerian brands worldclass or iconic, Brand Journalists Association of Nigeria (BJAN) brought together critical stakeholders to discuss better ways of strengthening the rights of customers, and as part of activities to mark World Consumer Day Moderator of the forum, the President, National Institute of Marketing of Nigeria (NIMN), Chief Lugard Aimiuwu, in his introductory remark, said that it was ironic that consumers, who are the biggest group affected by government policies and regulators’ decisions, have little or no say in what affected them. Like other discussants at the forum, Aimiuwu directly and indirectly said poverty and illiteracy had contributed to consumers’ not knowing what

their rights were let alone insisting on them.

Keynoter and Director-General, Consumer Protection Council (CPC), Mr. Emmanuel Amlai, who was represented by Mr. Emma Ataduba, categorically said that the rights of Nigerian consumers were being violated with impunity.

He, however, noted that the consumers did not help matters, as they were often not willing to get their rights protected even when government agencies were willing to take up their cases.

He was of the view that when a consumer bought a sub-standard product, he was not only hurt, it also impoverished the consumers because it cost more in the long run to buy substandard products. As for the manufacturer, he noted that it was likely to push him out of the market.

He further noted that ignorance and lack of education were two major reasons consumers’ rights were violated. Among other steps to protect consumers’ rights, Aimiuwu suggested improved regulations, better market practices by manufacturers and service providers, self regulation by product and service providers, enlightenment for consumers, upward review of penalties for violators and inter-ageny collaboration as way forward.

The Director-General of Standard Organisation of Nigeria (SON), Dr. Joseph Odumodu, represented by Mr. Louis Njoku, said that government had put in place everything for the protection of the rights of consumers but that most times consumers fail to make complaint to the appropriate quarters or agencies. He further argued that consumers had not done much to help the process. He reechoed the need for self-regulation by manufacturers.

On his part, President, Advertisers Association of Nigeria (ADVAN), Mr. Kola Oyeyemi, said there was collective culpability in the violation of consumers’ rights as everybody was guilty.

He argued that until Nigerians began to stand up for their fundamental human rights, there rights would not be protected. He suggested better enlightenment and regulation as ways out of the crisis.

Director-General, NAFDAC, Prof. Paul Orhii, who was represented by Mr. M. S. Mammudu, recounted efforts by his agency to protect the rights of consumers, including employing technology-enabled tools. He, however, observed that consumers must help the process by playing their roles of checking and complaining to regulators.

Chairman of APCON, Mr. Lolu Akinwunmi, said government set up the various agencies that directly or indirectly protect consumers’ right because the consumer was critical and that everybody was a consumer. He observed that most times the agencies did not take cases and follow them through. He also noted that if this were done there would be examples that would serve as deterrent. He also suggested that agencies should work together and enjoined the media to help in the enlightenment of the populace about their rights.

Aimiuwu stated that human rights were fundamental to respecting consumer rights and where citizens had challenges meeting their basic needs, consumer rights were mostly violated in such environment.

CEO, JSP Communications, Dr. Phil Osagie stated that using violation for inability to protect consumers’ right was too strong, adding, “Violation is probably a too strong word but consumers are not protected as they should, which is a responsibility of both the consumer and the regulator”.

At the end of the discourse, the new executive of Brand Journalists Association of Nigeria (BJAN) headed Mr. Goddie Ofose was inaugurated with Mr. Princewill Ekwujuru as Vice-Chairman.

through the magazine.

According to him, “at its conception, we visualised Security Exclusive as a magazine for the future which other feature magazines would struggle to beat. That future is here”.

While reviewing the magazine, Pastor Joe Ogbu said, “We have a magazine that will not be the banal dogma of strong exclusive security matters but that which will mirror the lives and style of people whose contributions in the security area provide a mirror for us to see ourselves”.

Ogbu, who described the magazine as the relaxation magazine for the mature mind, said the “demure and almost impeccable look” which is on the cover page of the maiden magazine “is a bait.”

According to him, “Security has gone beyond positioning stern looking arms-wielding individuals to the dimension of the use of the unassuming as an element of surprise and success”.

The Director General of the institute, Mr. Tony Ofoyetan said that the magazine was an initiative by the institute to widen the horizon of security and reach to the grassroots.

Quoting a bible verse, which reads; “my people perish for lack of knowledge”, Ofoyetan said the magazine would bring knowledge into the industry, noting, “Once you know, you will know what to do at every point in time and

things will never go wrong.”

The Chief of Naval Staff, who was represented

by Commodore Christian Robert Ezekobe, commended the institute on its efforts in fighting insecurity in the country and also projecting the image of the country.

According to him, “before now, the American Society for Industrial Security (ASIS) seems to be the benchmark for measuring certification in security outfit. But with the coming on board of IIPS, we have Nigerianised that American certification, adding, “So, it’s a welcome idea that we have a chapter of IIPS here in Nigeria,” he concluded.

Former security chief and Regional Vice President of American Society for Industrial Security (ASIS), Mr. Dennis Amachree also commended the institute on its giant strides of producing a security magazine to enlighten the populace and on the lighter mode they are taking it from, noting, “We tend to present security in Nigeria in a way that is very fearful, which should not be.

Security should be a discreet something. We should try and make it very sexy and attractive like the way it is done on this magazine”.

He also urged people to be more conscious about security, stating, “Security should be everybody’s business and that the more people come to know about security, the better for everybody”.

Institute launches security magazine

By Kenechukwu Ezeonyejiaku HE International Institute of Professional T Security (IIPS) has launched the maiden edition of its magazine, Security Exclusive.

The launch, which coincided with the institute’s 7th Annual Membership Induction Ceremony and Banquet, witnessed the presence of many security dignitaries.

Among those in attendance were Chief of Naval Staff, Vice Admiral Dele Joseph Ezeoba, who was inducted as a fellow of the institute, and former State Security Service (SSS) chief, Dennis Amachree, who was also inducted as member. Other dignitaries were also in attendance.

While speaking at the public presentation of the magazine at the Convention Centre of Eko Hotel & Suites, Victoria Island, Lagos on Saturday, editor-in-chief of the magazine, Mr. Folu Koyi said the magazine was designed to relax the mind and cater for varied interest among readers. According to him, “Security Exclusive, as the name suggests, aims to publish exclusive reports, news, interviews and the like with a bias for security issues. It looks at security from a broader perspective, which embraces physical security, emotional security, job security, security in human relationships and the defence characteristics of animate and inanimate objects”.

Koyi said that the publication was as a result of the mandate given to Mediagate Communications Limited, a product of the institute by IIPS last year to produce a world-

class publication and carry out other activities within the sphere of communications.

He said the magazine would initially come out every month and later become a weekly magazine. The maiden edition, he offered, was a foretaste of the bright things the organization offer

By Gbenga Salau

Africa’s public relations experts hold summit

Yomi Badeyo

HE African Public Relations T Association (APRA), a professional body that guides and

regulates the practice of Public Relations on the African Continent, is to organise the first African Public

AAAN inducts new members

Relations Practitioners’ Summit to mark the 50th Anniversary of African Union (A.U) in Addis Ababa, Ethiopia.

In this regard therefore, APRA has appointed Malam Sule Ya’u Sule, a Fellow of the Nigerian Institute of Public Relations and a seasoned media relations’ practitioner to coordinate and mobilise all delegates, sponsors, advertisers and exhibitors from the northern part of Nigeria for the summit.

The letter jointly signed by Mr. Peter Mutie of Kenya and Mr Yomi Badejo of Nigeria, APRA’s President and Secretary respectively, stated that the summit scheduled from May 2013, 8th-10th in Addis Ababa, is to draw stakeholders from across the continent and beyond in order to herald the journey towards a more positively perceived and prosperous Africa.

The summit is also expected to bring together about a thousand professionals in broadcasting, print journalism, filmmaking, advertising, branding, publishing, new media and communication generally from within and outside the African continent.

HE Association of Advertising Agencies of Nigeria (AAAN) at its recently held board meeting in Lagos inducted three new members.

The newly inducted member agencies are Verdant Zeal Marketing Communications Limited, Platform Branding Company Limited and Xstrata Consulting Limited.

The MD/CEO of the agencies took the membership allegiance oath, administered by the President of the associa-

T

tion, Mrs. Bunmi Oke, on behalf of their various agencies.

Oke said that the newly inducted member agencies would be presented their certificates of membership at the association’s upcoming 40th AGM/Congress in June 2013.

While welcoming the new members to the association, the Vice-President of the group, Mr. Kelechi Nwosu, implored the newly inducted agency heads to always be good ambassadors of the asso-

ciation and the profession wherever they find themselves.

Responding on behalf of the newly inducted agencies, MD/CEO of Verdant Zeal, Mr. Tunji Olugbodi, promised to work with existing members for continued development of the association and the industry as a whole, whilst charging the new agency heads to abide by the constitution and regulations guiding the association and the profession.

Newly inducted members in a group photograph with the President of AAAN, Mrs. Bunmi Oke, (fourth right) and other executive board members of the association.

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For The Record Competitive strategy: The perpetual struggle for a successful life Being text of an inaugural lecture delivered by Prof. Ben Emukufia Akpoyomare Oghojafor, professor and Dean of Business Administration (Strategic Management), Department of Business Administration, Faculty of Business Administration, University of Lagos (UNILAG) at the Main Auditorium on Wednesday, January 23, 2013.

(The first part was published on Friday, March 8, 2013.)

ORIGIN OF STRATEGY R. Vice-Chancellor, Sir, strategy formulation/design arose from the need for people to defeat their enemies. Thus, the first account that discussed strategy is from the Chinese, during the period 400 – 200 B.C. Sun Tzu’s work, The Art of War is acclaimed to be the best work ever on military strategy, in spite of many works that have followed it later this century (Horwarth, 2006).

Strategy is a war terminology that was derived indirectly from the classic and Byzantine (330 A.D.) in Greek “strategos”, which means “general”. Similarly, one of the most famous Latin works in the cue of military strategy is written by Frontius and has the Greek title “Strategemata”, “Strategem”, which literally mean “Tricks of War”. In the same vein, a Roman historian also introduced the term “Stratega” to refer to the territories under the control of a “strategus”, a military commander in ancient Athens and a member of the Council of War. The meaning of this word was geographically defined in the context explained above until Count Guibert, a French military thinker, introduced the term, “La Strategie”, in 1799, which brought about the meaning that strategy has today. Neither the military community before Count Guibert, nor the business community before H. Igor Ansoff (corporate strategy, 1965), could see the strategic element in their domains clearly enough to give it the name it bears today (Horwarth, 2006). Although military theorists, such as von Clausewitz, and political philosophers, such as Machiavelli, offer interesting insights about stratagems and power, many other sources of models and frameworks are also useful. The six basic origins of strategy are the following: • Industrial and evolutionary economics; • Case studies of exemplary companies; • Business and industry history; • Economic and organizational sociology; Strategic planning tools; • Institutional economics.

Each of these basic origins touches on the question of why some firms are more successful than others, but none provides a wholly satisfying answer. It is only when they are viewed as a whole that they can give us a reasonable framework for understanding competitive advantage. The most salient discipline underlying the field of strategy is industrial economics. Industry forces constrain what a firm can do, especially as they shift over time. But confining analysis to the industry falls short because it does not get to the heart of the entrepreneurial activity that makes firms profitable.

Examining how innovative routines develop over time, as evolutionary economists have done, gets closer to this critical entrepreneurial function.

The second building block of strategy consists of in-depth case studies of exemplary companies.

Cases that capture the challenges behind the investment decisions that create successful market positions and protect them from competition. Although cases cannot completely explain how a company competes, they provide important insights, especially by showing how firms develop innovations that competitors cannot imitate. The concept of a distinctive competence or capability has been derived from case studies and it is critical for understanding competitive advantage.

Business and industry histories have also added value significantly to strategy. Because of their scope and detail, firm histories deepen the empirical base from which strategic concepts are formed. By describing competitive behaviour over time, historians show how successful market positions have emerged. The contributions of economic and organizational sociology to strategy

M

Prof. Oghojafor have been found in five areas. Firstly, analyses of industry trends, especially rates of firm failure, have shown the relative importance of firm size and age for survival. Secondly, the internal structures and processes of firms have been analysed for their relative efficiency and potential for generating innovations. Thirdly, the development of networks of organizations has been analyzed as a strategic resource. Fourthly, advantages associated with geographical location have been identified. Lastly, trends in corporate governance, including top management compensation and practices of boards of directors, have been examined systematically. These contributions are important pieces of the strategy puzzle.

Strategy has also evolved from planning tools for top managers. Although strategic planning can improve performance remarkably, it does not actually determine the array of investments managers choose from. Indeed, planning is neither necessary nor sufficient for higher performance, since as long as a firm invests in projects that have a higher value than those of competitors, it need not have a formal strategic plan to be successful. However, planning models frequently capture key challenges and therefore can be very useful in identifying strategic problems. Without effective planning, a successful firm in a changing market can lose its advantage very quickly (Oghojafor and Bakare, 2009).

It is important to stress again that the need for strategy arose in order to deal with war antagonists. Companies embark on employing strategy in order to harness much more value and have a sustainable edge and advantage over their competitors (Oghojafor, Kuye and Sulaimon, 2011). Competition, therefore, necessitates strategizing (Oghojafor, 1999). Witness, in this regard, the definition of strategy by the United

States military, as given by its Joint Chiefs of Staff: “The art and science of developing and using political, economic, psychological and military forces as necessary during peace and war, to afford the maximum support to policies in order to increase the probabilities and favourable consequences of victory and to lessen the chances of defeat.”

Sources: Department of Defense (DOD) Dictionary of Military and Associated Terms/Luttwark (2003): Strategy The Logic of War and Peace, Harvard University Press.

This definition implies that man achieves his greatest success and victory in life after a finished battle, hence the need for strategy to precede any battle before success and victory can be recorded.

What Is Strategic Competition?

Ducasse, Pralle and Stalk Jr. (2005) describe strategic players as firms, which begin by viewing the market place as a dynamic system of competitors, customers, and human and financial resources.

Then they gather data on compromises they might be able to break, and discontinuities in competition they might exploit. They also predict the consequences of a given intervention in that system. If a new approach seems promising, they look closely at its implications by identifying the resources that can be dedicated to it, with the understanding that those resources will be committed for the long term while the benefits will be correspondingly deferred. Finally, they predict the risks and returns with sufficient accuracy and confidence to justify the commitment and their own willingness to act. Therefore, becoming a strategic competitor involves the desire of a firm to out-perform the competitors over and over again by excelling at anticipating market trend, mobilizing its organization, launching new products and services, and creating value for customers, consumers, and shareholders. Simply being in the game is not enough for such a company; it does not just play the game of competi-

The second building block of strategy consists of in-depth case studies of exemplary companies. Cases that capture the challenges behind the investment decisions that create successful market positions and protect them from competition. Although cases cannot completely explain how a company competes, they provide important insights, especially by showing how firms develop innovations that competitors cannot imitate. The concept of a distinctive competence or capability has been derived from case studies and it is critical for understanding competitive advantage.

tion, it plays it to win and strives to leverage on its advantage. More than just leading the market, it uses its decisive victories to transform the industry. The only way to compete against such a firm is to apply the same methods that underpin its seemingly unassailable advantage, e.g., Globacom’s entry into the GSM industry in Nigeria with per-second billing.

However, the strategies of the top players are always within the following four fundamental tactics: unleashing massive and overwhelming force on competitors; taking others’ ideas, improving them, and making them their own; driving up their competitor’s costs; and threatening their competitor’s profit sanctuaries.

Levels of Strategy Strategies can be built at different operational units and levels of firms, depending on the competition that such firms want to engage in.

Mr. Vice-Chancellor, Sir, the types of strategy that this lecture will address include a. b. c. d.

Corporate level strategy; Business level strategy; Functional level strategy; and Personal level strategy.

Corporate Level Strategy Johnson, Scholes & Whittington (2008) defined this as: “the level of strategy that is concerned with the overall purpose and scope of an organization and how value will be added to the different parts (business units) of the organization.”

Hitt, Ireland and Hoskisson (2006) defined corporate level strategy as a “strategy that specifies actions taken by the firm to gain a competitive advantage by selecting and managing a group of different businesses, competing in several industries and product markets.”

Therefore, anytime a firm chooses to diversify beyond a single industry in order to operate businesses in several industries, it, in fact, uses the corporate level strategy of diversification.

This primarily allows the firm to employ its core competencies to pursue opportunities in the external environment. Most times, this strategy addresses geographical coverage, diversity of products/services or business units and expectations of owners of business. Ansoff (1988) specified initial alternatives that can be utilised under corporate strategy to include market penetration, product development, market development and diversification.

Business Level Strategy Mr. Vice-Chancellor, Sir, this is the second type of strategy, as earlier indicated. It is an integrated and coordinated set of commitments and actions, which the firm employs to gain a competitive advantage by exploring core competencies in a specific product market (Hitt et al, 2006). Business level strategy is the firm’s core strategy that must be put forward to describe how the firm will compete (Hammel, 2000). The difference between this strategy and corporate level strategy is that, while corporate level strategy involves decisions about the organisation as a whole, business level strategy involves decisions relating to specific strategic business units. A strategic business unit is a part of the organisation that has different distinct external markets for goods and services, separate from other Strategy and Business Unit (SBUs). This is the reason this level of strategy is mostly referred to as competitive strategy. However, for an organisation with only one business, the corporate strategy can be the same as under the business level strategy. For example, if we bring our University into this scenario, as drawn here, the implication will be that our University must have a clear corporate strategy, while each unit of the University (i.e., Faculties and Administrative Units) must equally have a clear-cut business strategy that will drive these units to achieve set objectives which will holistically translate into the achievement of the University’s wider objective.

Since business level strategy is primarily concerned with the actions that are necessary for a successful performance in one specific line of business, the key thrust then must be a swift response to the dynamics and changes in the business environment. The strategy then must include actions that will strengthen market position, build competitive advantage and develop strong competitive capabilities. All these actions are expected to be carried out by the

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THE GUARDIAN, Monday, March 18, 2013

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For The Record Competitive strategy: The perpetual struggle for a successful life (2) CONTINUED FROM PAGE 71 managers in charge of each SBU (i.e., Deans of Faculties and Administrative Heads or Managers in charge of these firms, otherwise known as SBUs). It will then be expected of the manager of an SBU to see that the business level strategies are well conceived, consistent and not at variance with the over-all corporate strategy. Also, he/she must get major business level strategic moves approved by the corporate-level officers and keep them informed of any emerging strategic issues at his/her units. Holistically, the SBU manager must ensure that the business level strategy conforms to corporate level objectives and strategies.

Functional Level Strategies The third type of strategy is primarily concerned with the actions, approaches and practices to be employed in managing particular functions of business processes or key activities within a business, as opined by Thompson, Gamble and Strickland (2006). Functional strategy always adds specifics to the ‘hows’ of business level strategic activities that are very critical to the success of the business. Functional strategy is meant to support the company’s overall business strategy and competitive approach.

Very germane to the implementation of functional level strategy is the creation of functional structure. Functional structure is a structure consisting of a chief executive officer and a limited corporate staff with functional line managers in dominant organisational areas, such as Production, Accounting, Marketing, Research & Development, Engineering, and Human Resources. (Hitt et al., 2006). This structure will definitely allow for functional specialization that will create distinct responsibility, authority and accountability that are very relevant to the actualization of both business level and corporate level strategies. Similarly, functional level strategy will facilitate active sharing of knowledge within each functional area. This will promote career paths as well as the professional development of the functional specialists.

Functional strategies, within a firm or an organisation, is normally delegated to the heads of the respective functions, with the general manager of the business exercising a final approval and, perhaps, exerting a strong influence over the intended functional strategies of the functional areas. Functional managers (e.g., Heads of various Departments in our University, production manager, marketing manager, Research and Development (R & D) manager, personnel manager, engineering manager, and financial manager, etc) will have to collaborate and co-ordinate their strategies while making efforts to avoid conflicting strategies. Therefore, for an overall business strategy to have a maximum impact, the marketing strategy, production strategy, engineering strategy, financial strategy, R & D strategy, customer service strategy, product development strategy and human resources strategy must be compatible, mutually inclusive and aligned with one another. This should be to the overall realization of the organisational strategic goals, rather than each functional unit attempting to fulfill its narrow objective at the expense of others. That is the more reason the business head [i.e., Dean of a Faculty or Strategic Business Unit (SBU) manager] must co-ordinate all these functional areas or strategies to spot areas of conflicts and inconsistencies and ensure that they are resolved before implementation commences. I must affirm here that functional level strategy is a support that is fundamental to the implementation of business and corporate levels strategies of firms.

Personal Level Strategy Mr. Vice-Chancellor, Sir, this type of strategy, which is the fourth to be discussed in this lecture, is significant for the actualization of the other three organisational strategies. This is where all of us, as members of this University community, staff and personnel of firms here present, citizens of the Nation, Nigeria, belong. Our understanding and responses to this level will determine the success of the three other levels of strategy whenever they are applied in the organisational place. The human resource of an organisation will definitely initiate and formulate the corporate, business and functional levels strategies. Their quests for strategic thinking will assist the organisation to package an enduring strategy for the operations of the firm among its competitors. Therefore, the level of the exposure of the human resource of a firm to knowledge of strategy will go a long way in determining their level of appreciation of strategy formulation. In measuring this, a firm needs to pay attention to the zeal of its staff in terms of accept-

Prof. Oghojafor ing responsibilities, desire to face and surmount organisational challenges, attention and desire for human capital development, attitudes to difficult assignments and, finally, interest in competition for career prospect and development in the organisation. As earlier mentioned, success is expected to motivate every individual into a healthy competition. A lackadaisical or unenthusiastic personnel who barely recognizes the need for advancement towards self actualization in a chosen career will never be a good product for formulating corporate strategy for an organisation. May I reiterate at this point, that, whether a man participates in the contest for success or not in his life time, his life time will naturally participate in this contest, because no man can live in a vacuum or isolation of the dynamics of life.

One thing that is very sure is the fact that when others are winning in this contest, it must definitely be at the expense of those who are losing, for the competitive platform is set for all and sundry.

Therefore, personal level strategy is the strategy at the individual level where strategic decisions are made by an employee about how significant he wants to be in the organisational schemes and plans in terms of his overall influence on the corporate strategy and organisational performance. A highly motivated employee, with a strong quest for personal strategy, will become an invaluable and veritable gold mine for an organisation that is building an all-winning corporate, business and functional levels strategies. To this end, it will be a very wise decision for an organisation, that is competitive-strategy conscious, to invest in the training and development that will generate sufficient and adequate knowledge for their personnel in strategy appreciation, formulation and implementation: the reason is that this will translate into competitive benefits for the organisation in the long run. To illustrate this, Prof. Jelili Adebisi Omotola, the 7th ViceChancellor of our University, Prof. Tolu Odugbemi, the 9th Vice-Chancellor, Prof. A.B. Sofoluwe, the 10th Vice-Chancellor and now Professor Rahman Ade Bello, the 11th Vice-Chancellor, employed personal level strategy to ensure their ascension to the exalted office of the Vice-Chancellor of the first Nigerian University established by an Act of Parliament, following Ashby’s Commission Report, sequel to our independence as a nation with the objective of training the needed middle-level manpower for the nascent democratic Nigeria. Professor

Jelili Adebisi Omotola patronized the club, knowing fully-well that the eye of a fish is in the head, because the club provided many opportunities for interactions during lunch. While Late Professor Sofoluwe applied combined strategy of patronizing the club in addition to several other tactics he employed on assumption of office. It is pertinent to note that in our recent history, it was only the 10th Vice-Chancellor that utilized the club fully before assumption of office and thereafter, thereby demystifying the exalted office to the admiration of all and sundry. Today by the grace of God, the Council, under the distinguished Chairmanship of Deacon Gamaliel O. Onosode, who sought for days the divine intervention of God for the Vice-Chancellorship appointment, selected our respected erstwhile Chairman of the Muslim Community, Professor R. A. Bello, for a 5year term. Other Universities should copy as they have done in the past, the Unilag model of succession, the 10 years post professorial appointment, for a better Nigeria. Having been done with the levels of strategy, let us now explore the meaning and impact of competitive strategy.

Competitive Strategy Competitive strategy is the component of the organisational strategy that seeks to achieve success in the competitive market by making specific efforts to please the customer, through offensive and defensive moves to counter the tactics of the rivals, and by taking initiatives to strengthen the organization’s market position. In this connection, Porter (1998) opines: “Competitive strategy is the search for a favorable competitive position in an industry, the fundamental arena in which competition occurs.”

Competitive strategy strives to establish a profitable and sustainable position against the forces that determine industry competition. Competitive strategy involves the deliberate decisions of a firm to be different and create a very different value that delivers a unique product, superior to those of the competitors. Mr. Vice-Chancellor, Sir, permit me to do a critical analysis of the industrial structure that usually necessitates competitive strategy: this is popularly referred to as Porter’s five competitive forces that shape strategy, namely: Threats of Potential New Entrants; Threats of Substitutes of Goods/Services; Bargaining Power of Suppliers; Bargaining Power of Customers/Buyers, and Industry Rivalry among Competitors. It is useful here to recall the popular adage that says: “If you suddenly see an old man running in the street, if he is not being pursued by something (important), then he himself is pursuing something (very important).”

It is not out of nothing to do, nor out of the desire for superfluous profit that firms (and even individuals) get engaged in competitive strategy. It is rather because the industry of every firm, by nature, is troubled constantly by the aforementioned competitive forces which must be responded to, whether the firm likes it or not. It is the basic understanding of how these five competitive forces influence a firm’s profitability and performance in the industry that can assist a firm to design adequate strategy to win in the competitive business environment (Oghojafor, Olayemi

Success is expected to motivate every individual into a healthy competition. A lackadaisical or unenthusiastic personnel who barely recognizes the need for advancement towards self actualization in a chosen career will never be a good product for formulating corporate strategy for an organisation. May I reiterate at this point, that, whether a man participates in the contest for success or not in his life time, his life time will naturally participate in this contest, because no man can live in a vacuum or isolation of the dynamics of life. One thing that is very sure is the fact that when others are winning in this contest, it must definitely be at the expense of those who are losing, for the competitive platform is set for all and sundry.

and Oluwatula, 2012).

The Porter’s Five Competitive Forces that Shape Strategy Competitive jockeying among firms in the same industry in today’s business environment has assumed a more sophisticated dimension of both offensive and defensive moves, in order for each to improve its market position. In discussing the five forces, I will cite our own nation’s GSM telecommunication sector and the fast food industry as examples.

However, the model below in figure 2 will equally explain the decisiveness of these five forces.

Mr. Vice-Chancellor, Sir, the above model is symbolic of the inherent competitive forces we face in our business world, as most brilliantly articulated by the revered Professor of Strategic Management at Harvard University, Michael E. Porter. The collective strength of these five competitive forces will go a long way in determining the ability of firms in an industry to earn returns on their investment. In an industry where the five forces are favourable (e.g., the Nigerian telecommunication sector), many of the competitors will earn favourable returns. But, if vice-versa, like the Nigerian manufacturing industry, only very few firms will command attractive returns, irrespective of the strategic effort of the management.

Competition, using the Nigerian Telecommunication Industry in the Porter’s Model In Nigeria today, the competition in the Global System for the Mobile Telecommunication arm of the Nigerian telecommunication sector is extremely fierce and intense. This followed the privatisation of the sector in 2001. Before year 2000, the fixed wire technology (popularly called landline) was controlling about 99% of the total market share in that sector, with Code Division Multiple Access (CDMA) and fixed wireless controlling less than 1%. But, as at December 2011, the GSM controlled 94%, CDMA 5% and fixed wireless 1% [Nigerian Communication Commission (NCC) Industry Statistics, 2012]. In just ten years, the forces of competition in the liberalised business environment have turned the story around 3600. Mr. ViceChancellor, Sir, I now wish to do a critical analysis of each of these forces.

I choose to start my brief explanation of the above model from the centre of the model, because that is where all the actions begin and end, the reason all the other four arrows are pointing to this box in the centre. Thus, what makes this centre box a combat and contest arena is that, whenever a firm makes a strategic move that produces good results, its rivals often respond with offensive or defensive countermoves, thereby creating competition turbulence in the market. Similarly, in a situation where the product or service, being offered by these firms, is homogeneous, the competition will definitely be tough and intense. Also, if growth and market share will only be possible when a firm can reduce the number of the customers of the competing firms, and then have them as new customers, the rivalry among competitors is going to be very fierce. Recently, the rivalry view of Porter was challenged by other scholars, like Arnoldo C. Hax in Sloan Management School. They propose that it is the customers that drive competitive intensity, rather than rivalry among firms. Other factors, that can be responsible for high intensity of rivalry, include high fixed cost, low differentiation, high exit barriers, and competitor balance.

One of my on-going researches on the competitive factors identification and impact on financial performance reveals the following factors as being responsible for competitive strife in the GSM Industry in Nigeria: 1. Price as a Major Determinant: The cheaper the price, the more customers switch brands.

2. Network Coverage: This implies the presence of network in every location the GSM subscribers find themselves.

3. Value and Services: Value-added services, through technology, are contributing to the competition. It is obvious that varied services attract different customers to the network. Examples are “Closed Users Groups Service”, sophisticated data service. Effectiveness and efficiency have also been noticed to also contribute to value-added services.

4. Promotion: Promotion is a veritable source of increased revenue.

Also, it ensures customers’ retention, and this is so because more customers will come on board once there is a promo, due to its attendant benefits; cordial and prompt attention to customer complaints is another element in the promotion exercise. All these, among other factors, contribute to sticking to a provider, irrespective of its faults.

TO BE CONTINUED

73

THE GUARDIAN, Monday, March 18, 2013

Sports AFN moves office, relays to Warri ahead AYAC 2013

Ahead Brazil 2014 World Cup

Keshi denies abandoning Emenike Picks six homeboys for Kenya Eagles Coach, SsaidUPER Stephen Keshi, yesterday it was not true that he has abandoned injured striker, Emmanuel Emenike, whose goals contributed to Nigeria’s third African Nations Cup victory in South Africa last month.

A local website recently reported that Emenike accused Keshi and the Nigeria Football Federation (NFF) of neglect since the end of the Nations Cup last month.

Reacting to the story yesterday, Super Eagles Media Officer, Ben Alaiya, described it as absurd and shocking, saying, “the truth of the matter is that an official of the team, in person of Team Secretary, Dayo Enebi Achor, has been in constant touch with the player since he left for Russia after the Afcon, and they still spoke as early as last Saturday.

“In fact, Mr Achor has been the link between the team and all the players all these while. The coach only talks to them directly because he wants to know their state of health and wellbeing.

“Incidentally, the staff of the team in question is also an employee of the Nigeria Football Federation (NFF). So it’s shocking when you read reports that Emenike has been abandoned.”

Alaiya declared that the

phone number that the player personally gave to the Keshi has not been functional, “when Keshi discovered that number was not going through, he called his national team mate, Ahmed Musa, to help get Emenike’s new number but Musa says Emenike refused to give him his new phone numbers.

That is why the coach is stuck on this matter.

“If you want to talk to your player and he does not want to talk to you what then do you do. I think if Emenike has personal issues against any member of the team, he should come out and say so instead of whipping up public sentiments at a time concentration should be on the game against Kenya in Calabar”, Alaiya said.

Keshi last week revealed that he has made several attempts to reach the player to no avail.

Meanwhile, Keshi has picked nine out of the 24 invited players from the Nigerian Premier League for next Saturday’s World Cup cracker against the Harambee Stars of Kenya in Calabar, the Cross River State capital.

Although he did not name the players, sources named such usual suspects as Chigozie Agbim, Sunday Mba, Azubuike Egwueke, Godfrey Oboabona and Gabriel Reuben, among those in the squad.

English Premiership Table Team P Man Utd 29 Man City 29 Chelsea 29 Tottenham 30 Arsenal 29 Everton 29 Liverpool 30 West Brom 30 Swansea 30 Fulham 29 Stoke 30 Norwich 30 Newcastle 30 West Ham 29 Sunderland 30 Southampton 30 Aston Villa 30 Wigan 29 Reading 30 QPR 30

GD 38 25 28 14 23 11 18 2 2 -4 -8 -18 -11 -11 -9 -10 -25 -21 -22 -22

Pts 74 59 55 54 50 48 45 44 40 36 34 34 33 33 31 31 30 27 23 23

HE Athletics Federation of T Nigeria (AFN) has moved its office to the city of Warri

Eden Hazard (front); celebrates with Victor Moses after scoring his team’s second goal during the English Premier League football match against West Ham United…yesterday. PHOTO: AFP

ahead of the maiden edition of Africa Youth Athletics Championships scheduled to hold from March 27 to 31.

“We are ready for the event.

We have already moved office to Warri,” Maria Worphil, secretary of the AFN said at the weekend. She also doubles as scribe of the Local Organising Committee for the Championships.

Warri Township Stadium, hitherto a largely soccer stadium, has been reconfigured to host athletics events. And to assess the reconfiguration, the federation has moved the second leg of the 2013 AFN Relays, holding on March 23 to the refurbished Warri City Stadium.

The relays will serve as a preparatory exercise for the African Youth Athletics Championship starting March 27.

“It is part of the dress rehearsal for the African Youth Athletics Championships billed to kick off on March 27 at the same venue,” said the coordinator of the All Nigeria Relays, AFN’s Yusuf Ali. The relay events include, 4x100m, 4x200m, 4x400m and the 4x800m relays.

English Premiership

Chelsea now third, as Fulham beats Tottenham RANK Lampard scored his FBlues 200th Chelsea goal as the climbed to third in the Barclays Premier League with a 2-0 victory over his old club, West Ham, in the London derby at Stamford Bridge.

On his 595th Chelsea appearance, Lampard headed in an Eden Hazard cross after 19 minutes to move within two of Bobby Tambling’s club scoring record of 202 goals.

Former West Ham striker, Demba Ba should have scored three times in the first half, but Chelsea went two goals ahead when the impressive Hazard netted after 50 minutes.

Victory took Rafael Benitez’s side above Tottenham, who were beaten 1-0 by Fulham earlier on Sunday.

At White Hart Lane, Dimitar Berbatov came back to haunt his former club as Tottenham’s chances of Champions League qualification took a huge blow.

Having scored three goals in his last four matches, Berbatov was always going to be Fulham’s main goal threat, but even he could not have imagined how easy it would be to score his first goal at White Hart Lane since leaving Spurs in 2008.

The Bulgarian, who scored 46 goals in two seasons at Tottenham, easily spun off his marker and his mis-timed shot flew past Hugo Lloris to give the Cottagers their first win at White Hart Lane in 10 years.

The win must have proved even more sweet for Martin Jol, who tasted victory at Spurs for the first time since

he was harshly sacked in 2007 after two top-five finishes.

Andre Villas-Boas’ side has now lost three successive games for the first time under his stewardship and sit four points above Arsenal having played one more game.

Wigan striker Callum McManaman’s horror tackle overshadowed a controversial but crucial 90th-minute Arouna Kone winner for Roberto Martinez’s relegation-threatened side as they beat Newcastle 2-0 at the DW Stadium.

The Latics forward, on his first Premier League start, caused outrage with a reckless knee-high challenge on substitute Massadio Haidara.

He escaped punishment but referee Mark Halsey sent

off furious Newcastle assistant manager John Carver who twice had to be restrained as he tried to confront McManaman at the end of the first half - and Wigan coach Graham Barrow in an unseemly fracas.

Jean Beasejour’s first-half goal had been cancelled by Davide Santon with 18 minutes to go only for Kone to snatch a vital close-range goal in a goalmouth scramble in which the ball appeared to come off team-mate, Maynor Figueroa’s hand.

Substitute keeper, Lee Camp ensured 10-man Norwich left Sunderland with a 1-1 on a day when the Canaries’ luck deserted them.

Chris Hughton’s men were leading 1-0 at the Stadium of

Light through Wes Hoolahan’s close-range header when keeper Mark Bunn was dismissed for handling outside his area, and their fortunes took a further turn for the worse five minutes before the break when defender Sebastien Bassong conceded a penalty.

Craig Gardner levelled from the spot and then forced a vital 59th-minute save from Camp as the Black Cats strove in vain for the goal they needed to secure a first win in seven Barclays Premier League games.

However, Norwich left Wearside believing they should have been awarded a 70th-minute penalty for handball against Danny Rose in an eventful encounter.

Algeria 2013 African Youth Championship

Defending champion, Flying Eagles lose opening game to Mali ITLEHOLDERS, the Flying T Eagles of Nigeria, began its defence of the African Youth Championship (AYC) title yesterday with a 0-1 loss to Mali in their opening Group B game in Oran.

According to Supersport.com, FC Nantes teenage striker, Adama Niane, scored the only goal of the game to give the Malians a 1-0 win inside the Stade Ahmed Zabana.

Nigeria started on the front foot with Olarenwaju Kayode free kick stinging the palms of Mali keeper Ali Yiringo inside

the first 10 minutes. With a quarter of an hour into the game, Mali took the lead.

The Flying Eagles failed to clear from Tiekoro Keita’s corner kick leaving Niane unmarked in the area to rifle home with his left-foot.

After the goal, most of Nigeria’s attacking play came through Ansfed forward, Kayode without breaking the resilient Malians.

On 28 minutes, Kayode got the ball in the net but his goal did not stand as it was ruled offside. The Malians ended the

opening half under siege but kept their one-goal lead intact.

In the restart, substitute, Edafe Egbedi missed Nigeria’s best chance in the 46th minute from close range after heading horribly off target at the near post where he was totally unmarked.

Kayode and captain Abduljeleel Ajagun came close to drawing Nigeria level in the space of minutes but missed target on both occasions.

THE GUARDIAN, Monday, March 18, 2013

74 SPORTS

NFF’s spending regime under auditors’ scrutiny From Ezeocha Nzeh, Abuja UDITORS from the office of A the Auditor-General of the country last week stormed the offices of the Nigeria Football Federation (NFF) to scrutinise the books of the federation with a view to finding out what the body has been doing with all the funds it has received since the current board came to office.

The Guardian gathered that the auditors on Wednesday queried 15 NFF officials to explain or retire without delay the series of funds that were released to them in the course of discharging their duties for about two years.

Sources said the query was sequel to an internal memo earlier issued the affected

staff by the NFF internal auditor, giving them one week to retire the entire fund they have received from the federation.

Those affected by the query include two directors, an assistant director, some senior staff members and some secretaries of the various national teams.

Sources close to the auditor also confirmed at the weekend that over N150 million of the NFF fund could not be accounted for by those, who spent them several months after.

According to the source, the auditor is not happy with the spending culture at the NFF. Specifically, he is worried that the federation officials do not follow the federal

government’s financial guideline, which requires that officers of a government agency should provide a detailed account of every expenditure they make on behalf of their agencies.

“You see the fact that everybody is now afraid is due largely to the fact that from the beginning, the management of the NFF gave the auditor the impression that there might be something they were hiding.

“They systematically frustrated him from carrying out his assignment when he was first posted here from the office of the auditor general of the federation. It is very disheartening to see the spending culture at the NFF. This is quite unlike other federal government agencies.

“The most worrying aspect of it is that even some of the directors, who are supposed to reprimand the junior ones, are also involved in the culture of spending without retiring the funds. This is absolutely not good of an agency, which shares in the federation account,” the source said.

However, some of the NFF staff, who confirmed receipt of the query to The Guardian at the weekend, protested their inclusion in the list, stating that they never handled any funds on behalf of the NFF for the period under review.

Imo and Kaduna during the 17th National Sports Festival tagged Garden City, 2011 held in Port Harcourt.

Kogi dominates national handball junior tourney From Adeyinka Adedipe, Isanlu, Kogi OST - Kogi won two of the four titles at stake to prove their dominance at the National Under 12 and Under 15 championship, which ended yesterday in Isanlu, Kogi State.

In the under 15 boys final played yesterday, Kogi beat defending champions, Niger 11-10 in tightly fought encounter.

The kogi boys were the bet-

H

BRILA FM signs deal with Nigerian Basketball Federation N addition to its existing Sports Radio, 88.9 Brila FM, Iships list of prestigious partner- Dr. Larry Izamoje, that the and broadcast rights partnership would help proApapa Golden Stars and Onigbongbo Strikers in the Premiership division of the Lagos Junior League at the Legacy Pitch of the National Stadium in Lagos

Lagos Junior League

Surulere whitewashes Bariga Bombers, as Nath Boys’ continue winning streak

By Olalekan Okusan HE Premiership division of the Lagos Junior League entered week 16 at the weekend, with ruthless Surulere FC bashing Bariga Bombers 7-0, while league leader and defending champion, Nath Boys continued its unbeaten run in the league.

The one-sided encounter between Surulere FC and Bariga Bombers was an easy one for the Surulere side, who wasted no time in netting goals to increase their victories to eight with an average of four goals per match.

What looked like a tough match for Nath Boys turned out to be another win for the Lekki team with a 76th minute penalty, scored by Dipeolu Moses, taking it over fourth placed Mosan Okunola in its bid for a second successive Premier League title.

Although it lost the game, Mosan Okunola proved its worth by giving the League champions a tough fight in the encounter with the first 45 minutes recording some exciting moments filled with beautiful display by both teams.

T

Mosan Okunola was reduced to 10 men a few minutes before the end of the first half when one of its players got the matching order for a second booking.

Even with that advantage, Nath Boys failed to capitalise on the numerical strength as the Mosan boys put up a good fight.

However, mid-way into the second half, Mosan Okunola shot itself in the foot when its inexperienced goalkeeper hacked down Ekene Okolugo on the edge of the box to earn Nath Boys a penalty, which Dipeolu Moses calmly converted.

In another game played at the weekend, Oshodi Isolo FC at the Alade Stadium beat Onigbongbo Ultimate Strikers 1-0.

Third placed Apapa Golden Stars, who are mathematically out of the title race, clinched a 1-0 victory over struggling Odi Olowo Industrial Tigers at the Campos Mini Stadium.

The Golden Stars will now set their sights on challenging Onigbongbo for the second place slot.

earned for the Nigerian sporting public, Africa’s first and Nigeria’s only Sports Radio, 88.9 Brila FM has entered into yet another partnership arrangement, this time with the Nigerian Basket Ball Federation (NBBF).

According to a release by the station, the partnership is geared to satisfy the thirst of basketball-loving Nigerians, as well as, immensely contribute to the development of the game in the country.

At the agreement-signing ceremony in Abuja, the NBBF, represented by its President, Tijani Umar, and Secretary, Francis Gbiri, expressed the body’s happiness over the collaboration.

An elated Umar told the gathering, which had in attendance, the CEO of

mote and project basketball league in Nigeria and beyond.

He said, “this event is momentous as Brila FM remains the only platform that can help project and promote basketball in Nigeria with the partnership bound to serve as catalyst to the growth of basketball in Nigeria.”

Also speaking on the occasion, Izamoje said, “we have again proven our commitment to the all-round growth of sports in Nigeria, this is another leap and we again reassure sports fans, home and abroad that, as a truly global brand, we remain committed to robust delivery and continuallyenriched content in our bid to consolidate our leadership position in the business of sports casting.”

ter side in the early minutes racing to a 6-4 lead in the first half but the Niger boys, who will blame themselves for many lost chances bounced back in the second half to earn a respectable scoreline. In the third place game, Lagos lost 25-26 to Sokoto State.

In the under 15 girls final, Kogi defeated Abia State 16-6 to pick the trophy. The Abia side was stronger in the opening minute but failed to take advantage of the scoring chances that came its way.

Once the Kogi girls got into their strides, they were in the ascendancy throughout the game making use of fast breaks that caught the Abia defence stranded most times.

The first period ended 7-1 in favour of the host.

The game continued in the same fashion but the Abia girls’ fight-back was a little too late as the host closed the game 16-6. In the third place game, Benue defeated Kano 17-12 to pick the bronze.

Sokoto won the under 12 boys while Kwara picked the

gold in the under 12 girls.

President of the HFN, Yusuf Dauda said he was highly impressed with the standard of the tournament and the turn out of the teams.

He stated that what it meant was the federation was on the right track in his quest to produce fresh talents that would take handball to the next level.

Dauda noted that the turn out was higher than in 2009 when the competition was last held. “I am very happy with what I have seen here and we are sure to build on this achievement when we host the under 18 championship and the open championship later this year.”

According to him, the handball family will not forget what Yagba East Local Council has done to the development of youth handball.

He called on the council not to relent on his efforts in sponsoring handball and called on others to emulate the kind gesture of Yagba East Local Council.

Another veteran crashes at Old Trafford HE popular Old Trafford T Squash Club, Ikoyi, a melting pot of high-flying professionals, where members engage in rigorous matches at weekends, and which is fast becoming venue for major upsets, hosted a tough duel on Saturday where another veteran of the game bit the dust.

This time, it was the turn of

Representative of Minister of Sports/ Chairman, National Sports Commission (NSC), Yemi Idowu (left); Chief Executive Officer of Stanbic IBTC Holdings, Sola David-Borha; Marketing and TV Director, Confederation of African Football (CAF), Amr Shaheen and Super Eagles former star, Victor Ikpeba, during the unveiling of the AFCON trophy

by CAF and Stanbic IBTC - sponsors of the tournament in Lagos recently.

Tokunbo Onasoga, managing director of United Kingdombased KTA Freight Services, to succumb to the superior striking power of Albert Okumagba, the group managing director of BGL, who continued his giant-killing stride.

Okumagba was in his elements when he shocked everyone by trouncing Onasoga, who hitherto was a better player 9/5, 9/7 in two straight sets to claim victory in the enthralling encounter.

The visibly elated Okumagba said it was a unique victory for him, which he would savour for long considering the fact that nobody gave him a chance that he would survive his opponent’s onslaught.

He claimed his triumph is a warning signal to all other experienced players that they are beatable and expressed his readiness to take them on one after the other.

“It was a tight one and I am happy about the outcome as I was able to prove that you underrate an opponent at your peril. My target is to be number one on the ranking ladder and this is to put other big players on notice that I am coming after them. I am not afraid of anyone,” he explained.

THE GUARDIAN, Monday, March 18, 2013

75

English Premiership

Vidic urges caution despite Man Utd lead EMANJA Vidic insists N Manchester United have no intention of letting lightning strike twice even though they still have some tricky hurdles to navigate before they reaching the Premier League winning line.

At the end of Cheltenham week, keen racing enthusiast Sir Alex Ferguson embraced the theory that a testing run-in can catch even the most likely winners out.

It would take a collapse even more shocking than Devon Loch in the 1956 Grand National to deprive United of a record 20th title now though.

Fifteen points clear with nine games left, the Red Devils could have the job completed by the middle of next month, with their own 18-point record winning margin in the Premier League era also in their sights.

There should be no collapse like 12 months ago, when they tossed away an eight-point advantage in the space of four games. But Vidic is still preaching caution.

“It is a big gap and we shouldn’t let that change,” said Vidic.

“We have the title in our hands. What happened last season is the reason why sometimes you can feel the fans get nervous. But I don’t think we

should allow that to happen again. We can’t allow that to happen again.

“But we still have some tough away games at places that are traditionally hard for us so nothing is finished yet.”

It is true that Manchester City, Arsenal and Chelsea represent a third of their remaining fixtures.

But Aston Villa and Swansea must go to Old Trafford too, which should account for almost half of the 13 points now required after Wayne Rooney’s 16th goal of the season wrapped up a 1-0 win against Reading.

And the memory of that journey back from Sunderland last season, after City’s late heroics had snatched away a prize they finished their final game believing was going to be theirs is likely to ensure no loss of focus.

“You don’t get any points for that,” said Ferguson, when asked if United would be counting their chickens.

Defender, Chris Smalling was more measured in his response. “Last season is a massive incentive to make sure we hold on to this lead,” he said.

“We can’t rest on our laurels.

We have to make sure we finish it well before the season is over.”

Stoke’s form frustrates Pulis TOKE Manager, Tony Pulis Sside’s admitted following his 0-0 home Barclays Premier League draw with West Brom on Saturday afternoon that their lack of goals is becoming a major concern to him.

The result at the Britannia Stadium brought a three-game losing streak to an end for the Potters, but Pulis was frustrated that the hosts - who have only 27 goals to their name from their 30 top-flight matches this term - had not been able to find the net.

There were few clear-cut chances throughout the contest and Stoke substitute Kenwyne Jones passed a good one up in stoppage time when he fired at Ben Foster.

The 10th-placed Staffordshire outfit have claimed just five points from their last 10 league fixtures and Pulis, hopeful of a strong finish to the campaign,

is eager to see an improved conversion rate from his team.

Asked if he was worried about the side’s lack of goals, Pulis said, “yes, very much so. The final third at times has been the problem, but it is something we have to get on with.

“We got into some fantastic positions today and that final ball, or the movement, didn’t lead to the goal we need. That was disappointing. I thought it was a very competitive game without many chances in it.

“At the end Kenwyne has probably had the best chance of the game and unfortunately for us, he has ended up hitting it straight at Foster.

“When things are going for you, that would have nestled in the corner. But it has got us off 33 points, which has been a millstone around our neck and fingers crossed, now in our last eight games we can push on.”

Manchester United’s English forward, Wayne Rooney (left); celebrates after scoring during the English Premier League match against Reading at Old Trafford in Manchester, north-west England at the weekend.

Arsenal can’t look back after Swansea victory, says Oxlade-Chamberlain LEX Oxlade-Chamberlain A insists that Arsenal “can’t look back” after beating Swansea City 2-0 at the Liberty Stadium on Saturday and must push for a top-four finish to keep hopes of Champions League qualification alive.

Arsene Wenger’s side beat the Capital One Cup holders with goals from Nacho Monreal and Gervinho to keep the pressure up on fourth-placed Chelsea in the

hunt to feature in Europe’s elite competition next season.

Oxlade-Chamberlain, who impressed throughout the game on Saturday, believes that his side has to build on the confidence gained from beating Bayern Munich and Michael Laudrup’s side to finish the season as strongly as possible.

“Everyone in the Premier League feels pressure to get results,” the 19-year-old winger told the club’s official website. “It is part of being a footballer. We have to take that in our stride because we

know we have the characters to deal with it.

“The Swansea result is a good start but we can’t look back, we have to look forward at what we can achieve. That will be important for the runin so it is a matter of taking it step by step.

“We knew it would be a hard game but we had to take everything from Wednesday’s win at Bayern and use it in this game. We have always had belief in ourselves.”

Despite a number of disappointing setbacks this season that will leave Arsenal trophyless for an eighth season in a

row, Oxlade-Chamberlain says the players must focus on each game at a time rather than worry about their rivals.

“Obviously there have been some hard patches,” OxladeChamberlain said. “But wins like the one at Swansea affect the confidence in a positive way. We have to take that into the next game and look for three points again.

“It is going to be tough. We just have to stick to what we know. There are a lot of teams around us, who we can’t control. We can only control ourselves and well see what happens at the end.”

We were well beaten, Liverpool boss admits boss, Brendan LwereIVERPOOL Rodgers admitted his side well beaten as they crashed to a 3-1 defeat at Southampton.

The Reds arrived at St Mary’s on the back of four successive wins but were second best from the moment Morgan Schneiderlin opened the scoring on six minutes.

A deflected Rickie Lambert free-kick inflicted further damage before Philippe Coutinho’s injury-time strike offered signs of life in the visitors.

But there was no Reds fightback as Jay Rodriguez was allowed to waltz into the penalty area unopposed to seal the points 10 minutes from time.

“We just weren’t very good. It was as simple as that,” Swansea City’s Spanish defender, Angel Rangel (left); vies with Arsenal’s English striker, Alex Oxlade-Chamberlain said. during an English Premier League match at The Liberty Stadium in Swansea, Wales, at the weekend. Arsenal won 2-0. Rodgers “If you start a game the way PHOTOS: AFP

we started it then it is very difficult at this level to get back.

We only started to play when we were 2-0 down. We got it back to 2-1 and we were better in the second half but then conceded another very poor goal.

“Today was a poor day at the office. The problem is we have to live with it for a couple of weeks now.”

Rodgers was most aggrieved at the way his side defended.

Southampton repeatedly harassed the Reds midfield, forcing Rodgers to hook Joe Allen at half-time, and it served to unnerve them into some haphazard defending.

They were also cut apart down both flanks on numerous occasions during the first half, when Southampton could have scored more than the two they managed.

“When you concede the goals we conceded today it is always going to be difficult to win games,” Rodgers said.

“It’s something I know that we need to improve.

“We need to develop as a group. Today we didn’t defend or play, as well as, we can. I know the areas where we can improve.”

Southampton’s win was just their second in the league under manager Mauricio Pochettino.

The other win was against champions Manchester City last month, with Saturday’s success similar in the manner it was achieved.

On both occasions Saints profited from pressing their more-renowned visitors, and Pochettino praised his players as they “neutralised” the likes of Steven Gerrard and Luis Suarez.

76

THE GUARDIAN, Monday, March 18, 2013

European Round Off

I owed Borussia Dortmund an excellent performance, says Sahin URI Sahin has expressed N his gratitude towards Borussia Dortmund and Jurgen Klopp after he delivered a high-quality performance in Saturday’s 5-1 win over Freiburg.

Prior to the game the Turkey international, on loan from Real Madrid for his second spell at the club, had failed to score and only started once in seven appearances since returning to Dortmund in January.

However, Sahin scored twice and set up one in a performance that banished some of the recent criticism he has received. “I owed this to the club,” the 24-year-old told Sky after the game.

“It was important for me for the penny to drop sooner or later and the coach always said it was just a matter of time. I had a good feeling. I knew I had to play well today because my son was in the stadium. It had to be a special game and I, or we, managed it.”

Sahin, who scored 17 times in 153 games for the Borussians in his first stint at the club, was also quick to praise the support he has received from Jurgen Klopp and others connected to BVB. “I played a few bad passes, but that’s part of my game and you can get away with

that with this coach,” he continued.

“That does you good. It’s not only the coach, though. The whole club is standing behind me in the same way the coach is, and you only get that here. I owed something to them, and I owe them

something still, but I think I contributed to us winning this game.”

The 5-1 win allowed Borussia Dortmund to tighten their grip on second place, moving to 49 points from 26 games, and now four ahead of Bayer Leverkusen.

Sahin

There is no problem with Ibrahimovic, insists Ancelotti ARLO Ancelotti has refut- ungracious reaction strange “It is true that we have not C ed suggestions that considering “they had noth- had a good game but we before.” were surprised. This is an Zlatan Ibrahimovic is ing unhappy at Paris SaintGermain ahead of their Ligue 1 clash with SaintEtienne.

The Swede was highly critical of the boos and whistles that came from the home support when les Parisiens fell behind during last week’s 2-1 win over Nancy, stating that he found the

However, Ancelotti dismissed any idea that this showed the striker could be looking to leave the club in the wake of the controversy his comments created.

“Ibrahimovic said something after the match against Nancy,” the 53-yearold Italian was quoted by RMC Sport.

important time of the season and it is important that the fans are behind us.

Ibrahimovic explained this very well after the game.”

“There is no problem (with Ibrahimovic),” he continued.

“He is very motivated and focused...he is serious and wants to win, as do the whole team.”

Benzema refuses to rule out future PSG move ARIM Benzema has K emphasised that he is keen to remain a Real Madrid player but would not be against a move to Paris SaintGermain before he ends his career.

The 25-year-old forward has scored only eight La Liga goals in 22 league appearances for los Blancos this season, his latest in Saturday’s 52 win over Mallorca.

Speaking to the French programme Telefoot yesterday morning, Benzema stated that he was unconcerned about his form for club and

country and was not looking for an imminent transfer.

“Right now, I’m in the best team of the world,” the former Olympique Lyonnais forward declared.

“I’m taking things year by year. A transfer to Paris? May be later but not today. In a career, you’ll always find some hard times,” he continued when asked about his performances this campaign.

“But I feel very good. People criticise me but it’s part of my status. We have two strikers for each spot (at Real). I’m only happy when I play 90

Katidis gets Greek national team life ban for Nazi salute without knowing what it REEK footballer Giorgios defence.

“He most likely saw such a means. I am 100 per cent sure G Katidis has been given a Giorgos did not know what life ban from playing for salute on the Internet or Greece after his Nazi-style salute following his winner in AEK Athens’ 2-1 victory over Veroia on Saturday.

The former Greece Under19 captain sparked largescale condemnation amongst his club’s supporters, who berated him on Twitter and Facebook, after he raised his arm straight in front of him in salute after his goal in the Greek Super League game.

And yesterday, it was been revealed that the Greek FA following an extra-ordinary meeting has decided to hand him a life ban from playing for the national team.

“The player’s action to salute to spectators in a Nazi manner is a severe provocation, insults all the victims of Nazi bestiality and injures the deeply pacifist and human character of the game,” the Greek FA said in a statement.

The 20-year-old midfielder had pleaded ignorance via his Twitter account to issue an apology.

“I am not a fascist and would not have done it if I had known what it meant,” Katidis tweeted.

Katidis, who has featured in 20 league games this campaign, was also supported by AEK’s Head Coach, Ewald Lienen.

“He is a young kid, who does not have any political ideas,” the 59-year-old German said in his player’s

somewhere else and did it

over Palermo at San Siro yesterday.

Mario Balotelli got the hosts off to the perfect start as he converted from the penalty spot after just eight minutes.

Signs of a Rosanero fightback in the second half were quelled as Balotelli netted his second and secured all three points in the process.

Palermo were without a win in their previous 14 Serie A fixtures and any hopes of picking up some much-needed points took a severe blow with eight minutes on the clock.

Salvatore Aronica was adjudged to have been too physical with Balotelli inside the area and when the striker dropped to the floor, the referee pointed to the spot. The former Manchester City man took the responsibility on and guided a cool spot-kick into the bottom corner.

With little resistance being offered the Rossoneri were able to coast from then on and it was not until the 24th

minute that they threatened again.

A quick break culminated with Kevin-Prince Boateng switching the play to Sulley Muntari and the Ghanaian then picked out Stephan El Shaarawy unmarked in the

Balotelli

area. The youngster turned and cut in onto his right foot only to see his shot blocked on its way to goal.

Palermo were not giving the Milan defence much to worry about, but they felt that Cristian Zapata should

have been dismissed just after the half-hour mark. A deliberate handball stopped Josip Ilicic from breaking through on goal but the referee only showed the Colombian a yellow card.

The hosts were in control of

he did. He was crying in the dressing room seeing the reaction.”

Katidis

Schweinsteiger lauds Heynckes’ set-piece masterstroke ASTIAN Schweinsteiger over Bayer Leverkusen on B feels Bayern Munich’s pre- Saturday. match focus on set pieces was Simon Rolfes looked to have key to his side’s 2-1 triumph

Balotelli’s double see Rossoneri recover from Barcelona defeat C Milan never really had A to step out of second gear as they cruised to a 2-0 win

minutes. I can play an hour and score with my only touch, I still won’t be happy.”

Benzema has attracted complaints in France for his recent lack of contribution to the national team, in whose colours he has failed to score in 839 minutes on the pitch. “It’s not a problem for me,” he said of his international goal-scoring record.

“Sure, I want to score a goal and I’ve had opportunities. I don’t know why I haven’t.

That’s football - sometimes you get unlucky.”

possession but their lack of a cutting edge almost cost them dearly as Christian Abbiati had to stretch to keep out Michel Morganella’s low drive.

Milan remained at a rather tepid tempo in the second half and 10 minutes after the restart Abbiati had to make a great save to keep Paulo Dybala’s cross-goal effort out of the goal.

The Rosanero were vastly improved in the second half as their high pressing forced errors from Massimiliano Allegri’s men, but the hosts found that all-important second goal to give themselves a cushion and so it came against the run of play after 66 minutes.

M’Baye Niang, who had replaced El Shaarawy, raced to the byline and drilled a low cross in from the left which Aronica diverted back to his own keeper. Having to adjust quickly, Sorrentino could only parry the ball straight into the path of Balotelli, who thumped it in from inside the six-yard box.

salvaged a point for the home side when he equalised following Mario Gomez’s first-half strike, but the runaway leaders left with three points when Philipp Wollscheid turned Schweinsteiger’s free kick into his own net three minutes from time.

The Germany international was thrilled to have sealed the win against their determined hosts, but insisted the winning goal was down to Coach, Jupp Heynckes’ deadball tactics rather than simple good fortune.

“Here in Leverkusen, it is not easy to win. This is only the second home defeat for them,” he told reporters after the match.

“We actually started quite well and played a good pressing game, always forcing long balls from Leverkusen.

Then they came back because we made a few mistakes.

“In the end a goal from a set piece decided the game. Jupp Heynckes had previously told us exactly how we have to play the ball.”

The result maintains Bayern’s 20-point lead at the top of the Bundesliga, while Leverkusen remain third, four points adrift of Borussia Dortmund.

SPORTS 77

THE GUARDIAN, Monday, March 18, 2013

Riches to rags: Millionaire footballers who lose everything T the peak of his career, A Lee Hendrie was earning more than £30,000 a week playing for Aston Villa in the Premier League.

He won an England cap and was considered one of the best young English players of the late 1990s, in the same generation as Frank Lampard, Rio Ferdinand and Steven Gerrard.

But at the age of 35, his days of luxury cars and millionpound houses are well and truly behind him.

In January 2012, faced with spiralling debts and repossession, Hendrie was declared bankrupt after twice trying to take his own life.

Hendrie, who is still playing for non-league side, Tamworth, has spoken of his dramatic fall from grace and, according to sporting charity XPro, he is just one of a number of footballers facing serious financial problems.

The group claims as many as three in five Premier League footballers face bankruptcy within five years of retiring from the game.

Gordon Taylor, chief executive of the Professional Footballers’ Association, disputes these figures, saying it is closer to 10 per cent or 20 per cent, but the fact that many multi-millionaire players fall on hard times is not in question.

It is hard to feel sympathy for footballers, especially when they’re happy to showcase their flash lifestyle, but Hendrie’s story is an interesting one.

Speaking to BBC Radio 4’s You and Yours programme, Hendrie told how financial mismanagement and the breakdown of his marriage led to his economic downfall.

He says, “I was earning spectacular sums of money from when I burst onto the

scene from the ages of 21 to around 33 - the point where I left the football league. At one point, on bonuses, you’re talking £30,000-plus a week.

“I ask myself how I managed to spend that sort of money all the time. I suppose you get use to having the niceties of life and doing the things that the average person can’t do. Football is known for that, nice cars, nice houses, nice holiday, nice clothes. It’s easily done when you’ve got the money.”

Hendrie’s father, former Scottish professional footballer, Paul Hendrie encouraged him to invest his earnings wisely and with the help of financial guidance, he amassed a property portfolio worth over £10 million.

However, his fortune was short-lived and by 2010 he had lost everything.

“If I was to say I wasted my money gambling or that I just didn’t care about my money, that wouldn’t be true,” Hendrie adds. “My intentions were to look after my family and put my money into investments.

“But along the way I had a divorce, which hit me hard in the pocket and then I bought houses, which turned out to be a bad investments and I couldn’t sell them.

“It seemed like all the people, who were advising me didn’t have any answers anymore, so I had nowhere to turn.”

Hendrie’s situation reached rock-bottom when he tried to take his life in two separate incidents, the latter resulting in him being put on a life-support machine. He is now rebuilding his life with a new partner and starting children’s soccer schools in the Midlands.

Peter Kelsey, who advises wealthy people, including footballers and TV presenters, says he often has to tell

his clients that their fame and wealth can be temporary.

He says, “I tell them that their careers aren’t likely to last as long as they want them to and stress the importance of financial planning but it’s a difficult reality to accept.

“Footballers fall into a group, who aren’t as well educated as other rich peo-

ple around them and have role-models who aren’t always the best examples.

That leads to some of the problems like Lee Hendrie has faced.”

Other high-profile football bankruptcies include Fulham defender, John Arne Riise, goalkeeper, Brad Friedel, former Manchester United player, Keith Gillespie, former Newcastle

Babayaro

defender, Celestine Babayaro, Eric DjembaDjemba, who played at Manchester United, and Liverpool and England legend, John Barnes.

Speaking to BBC Radio 5 Live, Taylor also questioned the role of players’ agents in their financial dealings.

He says, “I have to be careful what I say about agents, but they are there during the

good times and a bit like butterflies in the bad times.

“All the players come to the PFA for advice when things have gone badly wrong. It is about saving, about being sensible, about being careful - it’s about not expecting to have the same lifestyle.

“Not everybody can adapt.

That exit strategy is important.”

• Culled from BBC.com

Hendrie

Del Potro ends Djokovic’s winning streak, confronts Nadal in final FTER five months of A unbeaten run, Juan Martin del Potro yesterday brought world number one, Novak Djokovic’s 22-match winning run to an end with a stunning victory at the BNP Paribas Open.

The Argentine seventh seed won a superb match 4-6 6-4 6-4 to set up a final against Rafael Nadal in Indian Wells.

It was Djokovic’s first defeat on tour since he lost to Sam Querrey at the Paris Masters in October.

Nadal reached the final of his first hard-court tournament in a year with a 6-4 7-5 win over Tomas Berdych.

But he will not face the opponent he might have anticipated after Djokovic succumbed to the same

problem that had been too much for Andy Murray the previous day - namely the fierce hitting of seventh seed Del Potro.

The 2009 U.S Open champion did not drop serve once in three sets against Murray, but the unerring accuracy and court coverage of top seed Djokovic proved too much in the early stages on

Saturday.

Del Potro gamely saw off six break points in the first 10 games before the pressure finally told and he framed one of those huge forehand swings, giving the set to the Serb.

But just as he had done against Murray in the quarter-finals, Del Potro raised his game as the match pro-

Juan Martin Del Potro of Argentina approaches hitting a forehand reply to Novak Djokovic of Serbia in Indian Wells, California, during their semifinal match at the BNP Paribas Open at the weekend. PHOTO: AFP

gressed and began to dominate Djokovic with a combination of bludgeoning forehands and measured backhand slices.

With the afternoon temperature soaring in the desert, a bewildered Djokovic was broken three times to lose only his second set of the week.

And the Serb’s unbeaten run was under real threat in the decider when Del Potro came roaring back from 0-3, earning two more break points at 3-3 and converting again at 4-4 when Djokovic simply could hot handle the pace coming at him.

Del Potro had won the last six games against Murray, and when he cracked a huge ace out wide on match point he finished off Djokovic by taking six of the last seven games.

“I was so close to losing but I got lucky in very important moments, very important points when I made fantastic winners on my forehands,” said Del Potro.

“It was my best match in this tournament, for sure.”

Djokovic said, “it’s ok. It happens in sport. I just didn’t make it this time. I didn’t deserve to win today.

“Whenever I had chances, second, third set, I threw them away with some unforced errors. My movement was poor, and I con-

gratulate to my opponent.”

In the first semi-final, Nadal, ranked fifth following his prolonged absence, was in fine form from the outset against Berdych, a man he had beaten in 12 of 15 previous meetings, including the 2010 Wimbledon final.

After taking the first set with a solitary break, the Spaniard looked in danger of being dragged into a threeset battle when Berdych moved 5-3 up in the second.

However, the Czech played a poor service game and then handed over another break at 5-5 with a woeful attempt at a smash.

Nadal took full advantage as he reeled off the last four games, fending off three break points with some fine serving in what proved to the final game.

“It’s very, very difficult to imagine something like this,” he said afterwards.

“But here we are today, and I’m very happy about all that happened in the last month, especially the last three weeks.

“I don’t have anything to lose after seven months. I did much more than I dreamed (possible).”

Del Potro added, “when you play the top guys, they are the favourites, but I will try to play just like today and then see if Rafa gives me a little chance to win.”

THE GUARDIAN, Monday, March 18, 2013

78 SPORTS

Odemwingie blasts West Brom over lack of starts EST Brom striker Osaze W Odemwingie has again taken to Twitter, this time to criticise the club for not starting him in games.

The 31-year-old has made just four substitute appearances and not started a game for the Baggies since almost moving to QPR on transfer deadline day.

Odemwingie arrived at Loftus Road on January 31 and apparently tried to open talks without West Brom’s permission.

“Keeping me on the bench now is worst [sic] than what they did on the 31st,” the Nigeria international tweeted.

Odemwingie later added, “if they like they shouldn’t even give me 10 minutes to play.

Threatening to ruin my career? Career I closed already last summer? No harm to me.

“Want to treat me like an average player. The abuse and praise I get is it average?

So get some extra from me too.”

Odemwingie reported to training the day after his unauthorised trip to west London, but was told to return the following week and was subsequently fined two weeks’ wages.

In February, Manager, Steve Clarke insisted the forward still had a part to play this season.

But Odemwingie has been used as a second-half sub on four occasions since the controversial incident including an appearance in the 68th

minute in the goalless draw at Stoke on Saturday.

Odemwingie, who has scored five Premier League goals this season, has another season left on his contract after the end of the present campaign.

After being left out of the team following the QPR fiasco, he returned to action when he came on in the 87th minute against the Black Cats, replacing Romelu Lukaku, whose two goals gave Albion the victory and moved them

up to seventh in the Premier League.

Despite the reaction from The Hawthorns crowd, Clarke thinks it is time for the supporters to move on from the incident.

Asked if he was surprised by the booing, Clarke replied, “no, but I hadn’t noticed it as at the time I was worrying about us throwing away a two-goal lead.

“For me the incident is finished. I don’t like talking about it and everyone should move on.”

Algeria 2013 African Youth Championship

Globacom rallies support for Flying Eagles ELECOMMUNICATIONS T giant and leading sponsor of football in Nigeria, Globacom has called on the National Under-20 team, the Flying Eagles, to go all out and defend the AYC trophy as the African Youth Championship formally kicked-off in Algeria at the weekend.

The Flying Eagles started their Africa Youth Championship defence yesterday against the Young Eagles of Mali.

A statement from Globacom in Lagos on Friday said the Flying Eagles have all it takes to surmount the challenge posed by their group opponents.

“We have followed the preparation by the Nigerian junior team ahead of this competition and we believe in the team to excel,” the statement remarked.”

The company is quite optimistic that the Flying Eagles

will fly higher as they are enjoying the benefit of team work as many of the players have been playing together since their Golden Eaglets days.

“It is also our belief that the Flying Eagles are aware of the expectations of Nigerians who are still basking in the euphoria of the recent success achieved by the Super Eagles as the African Champions at the African Nations Cup in South Africa. The Super Eagles’ success should be a motivating factor for the team,” the statement said.

The Flying Eagles acclimatised in Tunisia ahead of the forthcoming African Youth Championship, scheduled to hold in Algeria between March 16 and 30, 2013. The top four teams in the Championship will represent Africa at the 2013 U-20 World Cup in Turkey.

Westbrom’s star, Osaze Odemwingie

Nigeria Professional Football League

Sunshine Stars coach targets top four finish EAD Coach of Sunshine H Stars of Akure, Samuel Abimbola says his projection for the team is to finish in the top four of the 2012/2013 Nigerian Professional Football League (NPLF) season.

Abimbola made this assertion yesterday in Akure while being hosted by the Ondo State sports journalists.

The coach said he had not foreclosed winning the league, but was more focused on building a solid team with character that would be play-

ing

good football.

“Although we have not closed the door on winning the league, I am more focused on playing good football and finishing among the top four, so as to clinch a continental ticket,” he said.

Abimbola said the club registered 35 players for the current campaign and that the average age of his players was 24 years.

“Football is all about running around. At AFCON, the average age we had in the Super Eagles was 24 years,

which was instrumental to the success of the country.

“With these young players and the experienced ones we have among them, I am seeing Sunshine Stars being the best in Africa in two seasons to come,” he said.

Last season, Sunshine Stars, which represented Nigeria in the CAF Champions League, finished among the best four teams in Africa.

It is currently rated as Nigeria’s best club in Africa based on its performances in the last two years.

THE GUARDIAN, Monday, March 18, 2013

79

TheGuardian

Monday, March 18, 2013

Conscience, Nurtured by Truth

By Omale Omachi Samuel ROCUREMENT is the acquisition of goods and services. According to Weele (2010), it P is favourable that the goods or services are appropriate and that they are procured at the best possible cost to meet the needs of the purchaser in terms of quality and quantity, time and location. Corporations and public bodies often define processes intended to promote fair and open competition for their business while minimising exposure to fraud and collusion. Integrity of Nigeria government in the procurement process is questionable, negating the concept of consistency of action, values, methods, measures, principles, expectations and outcomes. In ethics, integrity is regarded as the honesty and truthfulness or accuracy of one’s actions.

This is evidently lacking in the business of governance and government in our country.

The fundamental poser to this issue raises questions as to the security of our collective resources in the hands of the government.

Certainly the government is saddled with the responsibility of large-scale spending which has multiplier effects on the economy.

This is different from normal household expenditures limitedly by domestic consumption. The goods and services, procured for government are purchased through a series of laid down rules and procedures, which is well known as due process. The current guideline for public purchases is laid down in the Public Procurement Act 2007.

However, the PPA 2007 is yet to achieve its full objectives.

The Fiscal Responsibility Act 2007 in Section 38 also provides that; all contracts with regard to the execution of the annual budget; shall comply with the rules and guidelines on – (a) procurement and award of contracts; and (b) due process and certification of contract.

It is essential to state that there are lots of bottlenecks frustrating the implementation of the procurement laws. This can be traced to the moral-fiber deficiency of the implementers other than the inadequacy of the laws, as some people tend to postulate.

To a certain degree, Nigerian laws have the necessary ingredients to point the way and protect the citizens to satisfaction as far as government expenditure on goods and services is concerned if accompanied by high level of morality.

No doubt, the credible way of transmitting the impact of government expenditures on the lives of the citizens is through public procurement processes. The processes have the inherent capacity to complement the incomes and wages earned by government employees. Procurement takes the form of constructing new roads, hospital, health care facilities, schools, housing, power plants, dams/irrigation facilities, and other programmes/cost benefits and purchases of government, which are expected to benefit the people. The level of credibility applied with the use of procurement laws by implementing officers, shall determine the maximal benefits to be derived from the populace.

Several ministries, departments and agencies widely referred to as MDAs violate the procurement law every day, in the cause of carrying out government business. This is not to say that there are no credible people in the system, but the percentage of credible officers in the MDAs leaves much to be desired.

The loss of credibility in the MDAs has made both local and international suppliers seek collaborative succour in Nigerian contracts.

This has been the trend for years with daily reports of contract scams flying on the pages of our national dailies.

What bothers me most is the inability of the law enforcement agents to prosecute cases of corruption levelled against public officers; they perpetrate the crime with impunity and with disregard for the masses. The syndrome of the rich against the poor holds sway even in our justice system. A toll on the number of prosecuted cases in the courts is disturbingly weighted against the poor.

Several public office holders in the decisionmaking hierarchy seem to lack the moral capacity to occupy their positions. Their subordinates kowtow to them with a ready spirit to help them perpetrate their heinous act, of course, so that they too can be beneficiaries.

If this is the case, why would the judiciary fall prey to this game instead of being a bulwark against evil and the last resort of the common man, filled with integrity and rekindled hope for a better future. Against this backdrop, I raised the following posers: Since the inception of this PPA 2007, how many cases involving public officers and con-

Please send reactions and feedback for YOUTH SPEAK to:

editorial@risenetworks.org and 07067976667- SMS ONLY

Procuring with integrity and saving our money

Emeka Eze, DG, Bureau of Public Procurement (BPP)

tractors have the judiciary successfully prosecuted? The Act provides in Section 58 as follows: Any natural person not being a public officer who contravenes any provision of this Act commits an offence and is liable on conviction to a term of imprisonment not less than five calendar years but not exceeding 10 calendar years without an option of fine. And also in Section 58, subsection (5) provides thus: Any person who while carrying out his duties as an officer of the Bureau, or any procuring entity who contravenes any provision of this Act commits an offence and is liable on conviction to a cumulative punishment of: (a) a term of imprisonment of not less than 5 calendar years without any option of a fine; and (b) summary dismissal from government services.

In the same vein, Section 22 of the Independent Corrupt Practices and Other

Related Offences Commission (ICPC) Act, deals extensively with contract agencies.

These include giving assistance, inflating contract prices, transferring fund allocated for a particular project etc.

Based on the foregoing, how come no one has been convicted or made to face the full weight of the law? Do we just sit and pretend not to know about the various atrocities being committed against the Nigerian people?

We have seen many cases of abuse of the procurement process. The media have reported some of these in the dailies. These range from fraudulent award of contracts, manipulated bidding, non-compliance with procurement procedures, and illegal award of contract after the tender has been publicly opened. Others include non-payment of 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’’.

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fees to contractors and non-application for certified true copies of procurement proceedings. The list is endless. It is either the provisions in the procurement laws and other extant laws are scribbled down merely to “fulfil all righteousness” or they are meant for selective applications.

I will like to use this medium to refresh our memories on reported cases of contract scam perpetrated against the Nigerian people: Various media houses such as; ThisDay, June 14, 2011, The Nation, June 8, 2011, Pointblanknews issue of 17/10/11, published the case of N9 billion scandal involving a high-ranking former legislator in the House of Reps, who was alleged to have procured a touch light for N9, 000 among some other equipment, a price which, evidently, cannot be equated with the market price.

Unfortunately, this dishonourable behaviour was quashed in the law court on technical grounds. We cannot forget so soon the distasteful renovation case of N628 million. The House only took advantage of the scandal to satisfy their political cravings rather than applying punitive sanctions as stipulated by the PPA. Pointblanknews, Aug 30, 2010, published N5.2 billion Rural Electrification Agency scandal as part of fraudulent activities perpetrated in the procurement process involving a member of the House, and others.

There was the case of N2.3 billion purportedly disbursed for an abandoned road project in Nasarawa State in 2006. The contract was said to have been awarded in 2001 but the contractor left the country after collecting N1.8 billion without executing the project. The lack of technical capacity of the firm, to handle the contract, was pointed out but the advice was ignored. No one has been questioned either by the police or ICPC. What about the case of an executive director of a research institute, who was accused of awarding three contracts to his son’s Cyber Technologies Company without due process (Daily Trust, January 27, 2011).

What about the case of a N12.3 billion contract for the repair of the rail network the award of which was approved by the Federal Executive Council on October 7, 2009. (www.nigerianbestforum.com/generaltopics/) An investigation into Federal Government project nationwide was conducted and the report revealed that for over 10 years from 2000 to 2009, there were nearly 12,000 abandoned projects across the country valued at N7.7trn— projects for which the contractors already collected N2.2trn in mobilisation fees!

There has been no record since 2012 that any contractor has been prosecuted, no looted funds have been recovered, and no colluding public officer has been identified much less prosecuted.

The list is indeed endless, leaving us in a comatose state framed in decay in ethics and integrity. Do we continue complaining of a failed system or work earnestly to ensure that integrity becomes the hallmark of the citizenry?

The solution for effective procurement in our country lies in character rebirth and not on the laws of the land. If the character is good, the laws would work naturally such that it would seem the laws are not needed. I am looking forward to a day when public officers in government would be publicly awarded honour, accorded recognition and rewarded materially for their good conduct rather than for the positions they occupy. In the temple of justice, rewards and punishment go hand in hand. Awards are given to deserving people with high level of integrity to encourage them discharge their duties faithfully, while punishment is meted out to the erring ones to discourage them from their evil ways or wrongdoing. But in Nigeria today, awards have turned to political compensation tools to compensate those in the higher class, which is the major factor to probity deficiency in the system. It is high time awards were given to well deserving people to encourage hard work. Anti-graft agencies should punish the offenders and stop the lip service prosecution on the pages of newspapers.

Most importantly, the policy makers should sanitise their conscience and imbibe the spirit of ethical values in their management of public resources, not forgetting the fact that they are no more than managers, and not the owners of the resources.

Inevitably, one thing remains, which we must take heed of: If there is no one to question or sanction your action while on the seat of power; judgment is awaiting you when you finally vacate that seat and we all leave this world.

• Omale Omachi Samuel wrote from Centre for Social Justice, Abuja.