The Nation August 06, 2012 by The Nation

Nigeria’s widest circulating newspaper

Mark stops senators from foreign trip

Two burnt to death in Ibadan crash

NEWS

Page 56

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•No US, Canada, China road show

•Bus rams into stationary vehicle

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VOL. 7, NO. 2209 MONDAY, AUGUST 6, 2012

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Suicide bomber kills six soldiers, two civilians Ex-commissioner shot dead

THE WORLD’S FASTEST MAN

From Duku Joel, Damaturu

IOLENCE continued in the Northeast yesterday as six soldiers and two civilians were killed in a suicide attack on a military patrol team in Damaturu, the Yobe State capital. A former commissioner in neighbouring Borno State, Alhaji Abdulkadir Kaasa, was shot dead in a dawn attack on his home. Yesterday’s killings came barely 48 hours after the Emir of Fika escaped a suicide attack in which his police orderly died. The violent Islamist sect, Boko Haram (Western education is sin), has claimed responsibility for the attack on the Emir. A suicide car bomber in a Sports Utility Vehicle (SUV) attacked the Joint Task Force (JTF) military post in Shagari Quarters in Damaturu, killing the soldiers and the civilians. The suicide bomber died on the spot A security source said the bomber may have been on his way to attack worshippers in one of the churches in the metropolis. He said: “The soldiers’ death is unfortunate, but it would have been more devastating if they had hit their target.” Yobe Police spokesman Toyin Gbadegasin said the blast occurred at the Shagari Quarters military check point around Gashua Road at about 11am. Six soldiers Continued on Page 4

•Jamaica’s Usain Bolt celebrates after winning the men’s 100m final at the athletics event during the London 2012 Olympic Games in London...last PHOTO: AFP night. Story on Page 4

Jonathan: Boko Haram can’t blackmail me

P •Dr. Jonathan

RESIDENT Goodluck Jonathan has described as blackmail and rude intimidation the condition given by the Boko Haram sect that he should embrace Islam and become its ardent member or resign from office. Reacting to the condition yesterday, the Special Adviser on Media

From Vincent Ikuomola, Abuja

and Publicity, Dr. Reuben Abati, said President Jonathan will not resign just because of such calls as he has a mandate from Nigerians. He described as laughable for any group to hand down such a condition to a president who was elected

by both Muslims and Christians in last year’s poll even when it was not in contest that he was a Christian. He said: “When Nigerians voted overwhelmingly for President Jonathan in the 2011 general election, they knew they were voting for a Christian. He continues to enjoy the goodwill and support of the

good people of Nigeria. As President, Dr. Jonathan is the leader of both Muslims and Christians; in fact he is the leader of persons of all faiths. “So, it amounts to sheer blackmail for any individual or group to ask Continued on Page 4

•CITYBEAT P6 •SPORT P23 •CEO P32 •JOBS P37 •POLITCS P43

THE NATION MONDAY, AUGUST 6, 2012

NEWS

A year on, • House of Representatives Speaker Aminu Waziri Tambuwal, Sokoto State Governor Aliyu Wamakko and National Security Adviser (NSA), Col Sambo Dasuki (rtd), during Tambuwal and Dasuki’s visit to Sokototo commiserate with the people of the state over last week's bomb blast...yesterday

A year after the report of the United Nations (UN) slammed multinational oil companies, particularly leading operator Royal Dutch Shell and the government for 50 years of oil pollution that has devastated Ogoniland, nothing is being done to save the people, writes REUTERS

•Rivers State Governor Rotimi Amaechi in a handshake with Rt. Rev. Innocent U. Ordu during the Synod Thanksgiving Service of Diocese of Evo at St Michaels Anglican Church Rumuomasi Deanery, Port Harcourt...yesterday. Watching is the governor’s wife Judith and Commissioner for Information Ibim Semenitari.

•Action Congress of Nigeria, Lagos State Chairman Chief Henry Ajomole, Dr. Titilayo Anibaba, her husband Kayode Anibaba, and ACN National Publicity Secretary Alhaji Lai Muhammed during the thanksgiving service and reception PHOTO: NIYI ADENIRAN. party for the retirement and birthday Anniversary of Dr .Anibaba in Lagos... at the weekend

BRIGHT yellow sign above the well in this sleepy village says ‘caution: not fit for use’, and the sulphurous stink off the water that children still pump into buckets sharply reinforces that warning. “Can you smell it? Don’t get any in your mouth or you’ll be sick,” said Victoria Jiji, 55, as she walked past the bore hole in her home village of Ekpangbala, one of several in Ogoniland, whose drinking water has turned toxic. Prosperity has flowed from Ogoniland, one of Africa’s earliest crude oil producing areas, for decades. But it has flowed to the big oil companies and to Nigerian state coffers. Locals have long complained that precious little goes their way. A landmark U.N. report on August 4 last year slammed multinational oil companies, particularly leading operator Royal Dutch Shell, and the government, for 50 years of oil pollution that has devastated this region of the Niger Delta, a fragile wetlands environment. It said the area needed the world’s biggest ever oil clean-up, taking at least 25 years and costing an initial $1 billion. Shell and the government swiftly pledged to act on it. One year on, residents say they’ve seen no evidence that it has begun. Shell says it is committed to cleaning up Ogoniland, but argues the government must also do its part. Most oil spills are the result of theft by armed gangs hacking into pipelines, it says, and this must be addressed alongside any clean-up. Nigerian oil ministry officials were not available for comment, but government last week announced a new committee to look into implementing the report’s recommendations. When BP’s Macondo well in the Gulf of Mexico ruptured in April 2010, spewing nearly 5 million barrels of oil into the sea, its reputation took a devastating blow, and it had to pay billions of dollars to those affected. In Nigeria, thousands of barrels are spilled every year, largely without negative consequences for the oil companies.

POISONED WELLS

• Senator Gbenga Ashafa (second right), Chairman, Ibeju-Lekki Local Government, Kemi Surakat (left) , Regional Director for Emerging Africa Lebanon and Zain Global EMC, Mr. Fady Richmany (second left) and the Principal of Iwerekun Community Snr. High School, Ibeju-Lekki, Mrs. Ojemuyiwa Ebunoluwa (right) during the EMC Launchers School Laboratory Project Lekki, Lagos PHOTO: MUYIWA HASAN

The United Nations Environment Programme (UNEP) report found that the Ogale community, a group of nine villages including Ekpangbala, was drinking water from wells contaminated with benzene - a known carcinogen - at levels over 900 times the World Health Organisation’s guidelines. “Even before the U.N., we knew this water was turning bad. It smells, and people are complaining of itching and skin rashes,” said Walter Olaka, Ogale’s youth president. Shortly after the report, the government provided Ogale’s villages with water tanks, part financed by

Shell. They get refilled most days with potable water, but locals say it’s never enough, and they still use the polluted groundwater for washing. The tank Reuters visited in Ekpangbala was empty. “Until now, nothing whatsoever has actually been done ... towards the clean up,” said Ben Naanen, chairman of the Movement for the Survival of the Ogoni People (MOSOP), founded by the environmental activist Ken Saro-Wiwa, whose campaign against oil pollution drove Shell out of Ogoniland in 1993 - although the firm’s dilapidated pipelines still crisscross its swamps. Saro-Wiwa was hanged in 1995 by the then military government, to worldwide horror. “We continue to hope that things will change, but those hopes are quite honestly looking slim,” said Naanen, a history professor at the University of Port Harcourt, in the heart of Nigeria’s roughly 2 million barrel-aday oil industry. Yet many activists remain upbeat that the U.N. findings are slowly gathering enough momentum to spur action. The government last week announced “the formation of a HydroCarbon Pollution Restoration Project”, though it gave few details. “The project shall implement the recommendations of the UNEP report on Ogoniland as well as investigate, evaluate and establish other hydrocarbon impacted sites,” the statement said. UNEP cautiously welcomed the government’s pledge on Thursday, but warned that the clean-up was a huge task that will require long-term financing and urged funds to be released now.

OILY WASTELANDS A rainbow-tinted film of crude cloaks the water throughout the creeks and swamps of Nigeria’s Bodo community, giving off intoxicating petrol fumes. Spidery husks of dead mangrove trees blacken the landscape for miles around. An oil-coated heron picks its way through the sludge. Joe Vikpee left at 5.30 a.m. on his small dug-out canoe in search of fish. Still on the water 10 hours later, his haul is a handful of small fish barely enough to feed two people. “They used to be abundant before the spills,” he says. Shell accepted responsibility for two major oil spills that devastated the Bodo fishing community in 2008/ 9, but it says efforts to clean up had been hampered by insecurity. Now, some 11,000 members of the community who say their lives were ruined by the spills have taken their case to the London High Court seeking compensation of “many millions of dollars”, according to their lawyer Martyn Day. “The people in Bodo are living corpses. You see them alive but they are dead inside. Look at this water,” said Kpoobari Patta, 40, casting his eye over a lead-colored creek. Shell says around 4,000 barrels of oil were spilt in total in the two incidents - 1,640 barrels in one in Novem-

THE NATION MONDAY, AUGUST 6, 2012

NEWS

oil still poisons Niger Delta ‘ No matter what evidence is presented to Shell about oil spills, they constantly hide behind the ‘sabotage’ excuse and dodge their responsibility ... to properly maintain their infrastructure and ... clean up oil spills

• Dr. Jonathan

• Sunmonu

Environmentalists accuse Fed Govt of abandoning UNEP report HE Environmental Rights Action (ERA) has accused the Federal Government of abandoning the United Nations Environmental Programme (UNEP) assessment report on Ogoniland pollution. The Executive Director, (ERA/ FoEN), Nnimmo Bassey spoke in Abuja at the weekend at a stakeholders conference on the one-year anniversary of the UNEP report on Ogoniland. The report, which was submitted to President Goodluck Jonathan on August 4, last year . Bassey said it is unfortunate that one year after the administration of Jonathan received the report, no action has been taken. He said: “We are here marking one year of government inaction. Government went to sleep after receiving the report on the issue, eating and swallowing us up. No provision was made in the 2012 Budget to clean up the Ogoniland. Government should make concrete arrangement to clean up the Ogoniland.” The Executive Director, Centre LSD, Otive Igbuzor, said the report provides foundation upon which trust can be built. He said the clean-up could take 25 years of deploying the latest technology, improved environmental monitoring and collaborative action among government, oil companies

and Ogoni people. Speaking on the topic ‘Urgent action needed to cleanup and restore the Niger Delta,’ Prof. Richard Steiner of the University of Alaska said: “It is truly unfortunate and disappointing that a year after the UNEP report was issued and six years after our original Niger Delta damage assessment and restoration report was issued, very little action has been taken by the federal government of Nigeria, the state governments and the oil industry. And this is a true tragedy. “The Niger Delta is tragically the most severely petroleum-impacted ecosystem I have seen anywhere in the world (and I have seen many). The extraordinary environmental and social damage has continued for over 50 years now, and continue to this day. As has been said by many, Nigeria is an iconic example of the oil curse. “The human health impacts detailed in the UNEP report underscore the fact that health of the people of the Niger Delta continues to suffer. In fact, I feel the World Health Organisation should declare a health crisis in the Niger Delta and set about to do what it can to resolve the crisis.”

ber 2008, and another 2,500 from a corroded pipe that was fixed in February 2009. A study by Amnesty International on the first spill put the figure between 103,000 and 311,000 barrels. A Reuters visit to the site on a boat revealed oil pollution stretching for miles in many directions. Shell says a lot of that oil has been spilled since by armed gangs in thieving operations known as “bunkering”. “The real tragedy of the Niger Delta is the widespread illegal activity,” Mutiu Sunmonu, managing director of the Shell Petroleum Development Corporation (SPDC), a Shell-run joint

venture majority owned by Nigeria’s state oil firm, in which EPNL and ENI also have stakes, told Reuters. He said oil theft was responsible for most of the spilt oil in the delta. Amnesty International’s Audrey Gaughran thinks this is a smokescreen to mask Shell’s and the government’s own failures. “No matter what evidence is presented to Shell about oil spills, they constantly hide behind the ‘sabotage’ excuse and dodge their responsibility ... to properly maintain their infrastructure and ... clean up oil spills,” she said.

From Bukola Amusan, Abuja

He said the people of Niger Delta should be compensated in a fair and just manner, for the extraordinary injury caused by continuous neglect by the oil industry and government to the initial sum of $10 billion. Veronica Kobani, Goi community women leader in Ogoniland and Comfort Warkani, lamented the fate of the Ogoni people. Kobani said oil spills and pollution have forced her community to migrate. Warkani appealed to the wife of Mr. President, Patient Jonathan to beg her husband to come to the rescue of Ogoni people. In July, Minister of Petroleum Diezani Alison-Madueke said the Federal Government would implement the report. She said the implementation would be overseen by the Hydrocarbon Pollution Restoration Project. The UNEP report commissioned by the Federal Government covers contaminated land, groundwater, public health, industry practices and institutional issues. It recommended the establishment of an Ogoni Environmental Resource Authority to oversee the implementation of the clean-up. It recommended a separate budget A page on Shell’s website last month said “the company has had very limited access to enter the area to clean up and remediate spill sites” since it was driven out in the 1990s. Ogoni activists dispute that, saying they have invited company officials in to review the damage and replace corroded pipelines, which would be safe with the community’s consent.

“PRESSURE COOKER” Local activists , who have for years been calling on oil companies in Nigeria to be held to the same standards as elsewhere in the

•Bassey

for the authority, with an initial capital injection of $1billion contributed by the oil industry and government. world, are skeptical of the government’s pledge the clean up the delta, the latest of many. “It’s just an announcement of intention, nothing more,” said Nnimmo Bassey of Friends of the Earth, Nigeria. “This is a test for the government, whether it cares about its citizens and their survival, or whether they care more about a defective relationship with the multinational oil companies.” Sunmonu said Shell was “committed to playing its part” in any clean-up, which is also the responsibility of the state.

‘

“It’s clear that the ongoing problem of oil spills in the Niger Delta will only be solved through a coordinated effort ... We support the Nigerian government’s recent pledge that it will implement fully the report’s recommendations.” Anger is building in Ogoniland. The Bodo spills pushed many fishermen deeper into poverty, says Christian Kpande, a church pastor and fisherman whose own children dropped out of school when his income from fishing fell. He warns violence could flare up again in the region. “I don’t know if they are planning war, but ... a hungry man is an angry man,” he said, his boat pausing by an oil slick. “One day the youth could just get up and lock things down,” he said, adding that they all know where the pipelines are. Militancy in the Niger Delta over the last decade shut down nearly half of Nigeria’s oil output, until an amnesty in 2009. The risk of renewed unrest and the growing risk of financial liabilities from various court cases might ultimately be what spurs action from the government and the oil majors. A clean-up is “not a complicated process”, says Nenibarini Zabbey, contamination expert at the Centre for Human Rights and Development. “But it requires a high level of commitment.” That commitment might come as the government and oil firms take stock of the risk of further social unrest, analysts say. “The Niger Delta is still a pressure cooker of frustration. If those frustrations boil over, it’s impossible to say if it will become another round of protests or militancy,” said Chris Newsom, advisor to Port Harcourt-based NGO the Stakeholder Democracy Network. “What’s been proven is that it will come on very quickly, very dramatically. If you’re an oil company here, the reputational and other risks are very high ... ‘Carry on and hope’ is not a management technique that can last.”

THE NATION MONDAY, AUGUST 6, 2012

NEWS We’ve returned N80b Abacha loot, says Switzerland

WITZERLAND said yesterday it has put

•From left: Mr Goke Dokun; Head, Internal Communication, First Bank Bukie Olugadi; Nigeria Olympic Committee President Sani Ndanusa; Head, Diaspora First Bank, Oyefeso Odusami and Adakun Okerie at the First Bank Day at the African Village, during the on going London 2012 Olympics PHOTO: NAN

some measures in place to safeguard its financial system from the transfer of stolen wealth. Outgoing Swiss Ambassador to Nigeria, Mr Andreas Baum, spoke in an interview with the News Agency of Nigeria (NAN) in Abuja . He said Switzerland’s financial system had improved since the controversy surrounding the loot of the late Military Head of State, Gen. Sani Abacha. “It is an area we have put a lot of work in. We realised that there was a problem; the measures we have taken will prevent the transfer of stolen wealth to our country. “The Nigerian case is very important to us because the Abacha case helped us to im-

Boko Haram: Babangida blasts Edwin Clark

ORMER Military President Ibrahim Babangida yesterday denied backing Boko Haram sect as alleged by a former Minister of Information, Chief Edwin Clark. He insisted that the President Goodluck Jonathan administration should adopt a proactive approach to the Boko Haram menace instead of sticking to the old reactionary approach. Gen. Babangida, in a statement in Abuja through his spokesman, Prince Kassim Afegbua, said as a civil war hero, he would not engage in any act capable of destabilising the nation. It said: “The statement reportedly credited to Chief Edwin Clark on Friday, 3rd August, 2012 in several newspapers and online media to the effect that General IBB has a hand in Boko Haram is the subject of this response. “We are ashamed to state here that rather than coming up with plausible and efficacious solution[s] to the insecurity in the country, what the self-acclaimed elder statesman came up with was buckpassing, such odium and ran-

From Yusuf Alli, Abuja

cid outburst, to the extent of trying to accuse General Ibrahim Babangida on the Boko Haram menace. “We view this misguided and senseless statement in very bad taste and we take very strong exceptions to his drooling and implied conclusion. “For the purpose of putting the records straight, General Ibrahim Babangida does not and will not have a hand in anything untoward against the unity and stability of the Nigerian State . “Having seen it all in life, and now enjoying his retirement in Minna, Niger State, General Ibrahim Babangida has paid his dues by serving his fatherland to the best of his ability at various times in the history of the country. “Having invested so much in the unity and stability of the country, to the extent of fighting in the civil war to keep the country together, it is out of place for anyone, least of all an old man of Edwin Clark’s nomenclature, to input directly or indirectly that the great IBB should

prove his innocence on the Boko Haram menace.” Gen. Babangida said if Clark owned up to the statement, he must be suffering from senility. The statement went on: “We want to believe that Chief Edwin Clark was quoted out of context, but if indeed he did say what was credited to him, we are forced to accept the conclusion that on account of his age, his senses have since departed him. “He needs our empathies and not sympathies. We have since known Chief Edwin Clark to be loose cannon in public discourse. He deserves our pity.” The former military ruler asked Clark to offer practical solutions to the insecurity siege instead of buck-passing. The statement added: “We were expecting Chief Edwin Clark to use the opportunity of his forum to advance solutions to the insecurity situation in the country with particular reference to the Boko Haram crisis. “General Ibrahim Babangida has offered several ap-

proaches and methodologies to addressing the precarious situation both in public and private, and had stated without equivocation that dialogue would serve as a better tool than this militant approach which is not yielding appropriate result. “He had also stated that President Goodluck Jonathan should use some of the respected Muslim clerics in the North as middlemen to reach the members of Boko Haram and appeal for calm and understanding, in the interest of the unity and stability of the system. Needless to state that Government is a huge institution with several options open to it. And the earlier we discarded this old method of reactionary approach and adopt a proactive one, in handling sensitive situations such as the one under reference, the better it will be for the country. “With ethnic mindset of a Chief Edwin Clark, we can understand why the country appears fixated and why there has not been nationally accepted approach to combating this Boko Haram menace.

prove our laws. “We have put in place measures to ensure that the Swiss financial system is not abused with the transfer of such assets. “We have returned around 500 million dollars (about N80 billion) of the Abacha loot to Nigeria. That was done during the time of my predecessor. “But there is still one ongoing case involving the son of Abacha,’’ Baum said. The envoy, who described bilateral relations between Switzerland and Nigeria as excellent, bemoaned the low volume of their trade, which currently stood at $500million. Baum attributed the low level of bilateral trade between the two countries to “informal and unaccounted trade’’. According to him, this is because a lot of Swiss products, mainly oil and pharmaceuticals, come into Nigeria through other countries. “Some Swiss products come into Nigeria through the Netherlands; so it is sometimes difficult to have an accurate account of the Continued on Page 56

Bolt retains 100m title •Gen. Babangida

“Anyone who sees the Boko Haram menace as strictly a Northern affair would be exhibiting crass ignorance about leadership in a multiethnic configuration like Nigeria. The earlier we began the patriotic process of viewing challenges as collective responsibility, the better it would be for getting solutions to the problem. “When ethnic jingoists speak and reason in the manner that Chief Edwin Clark did, then we have a huge problem on our hands.” The General said he has left Continued on Page 56

Jamaica’s Usain Bolt sealed the legendary status he so craves after sprinting to a convincing victory in the men’s Olympic 100m to retain his title on Sunday. The 25-year-old world record holder turned on the after-burners at 60m to clock an Olympic record of 9.63sec, the second fastest time in history. Jamaican compatriot and training partner Yohan Blake, long tipped as Bolt’s successor as the fastest man in the world, claimed silver after equalling his personal best of 9.75sec. American 2004 Olympic gold medallist Justin Gatlin completed his remarkable comeback from a four-year doping ban by taking the bronze medal in a personal best of 9.79sec

Suicide bomber kills six soldiers, two civilians

Continued from Page 1

were killed. He said the two civilians caught up in the blast, were passing by the “stop and search” mounted by the JTF. Gbadegesin said: “The incident occurred when one Sports Utility Vehicle (SUV) was asked to stop by the military. The driver of the SUV did not stop. The soldiers started chasing the car with two Hilux vans. One of the vans overtook the suspected car while the other one was behind. The driver of the vehicle detonated the bombs installed in the vehicle and blew up six soldiers and two civilians.” “The soldiers actually attempted to stop the suspected suicide car-bomber; he, however, detonated the bomb and shattered the SUVstrapped explosives killing the suspect himself on the spot.” The other civilians died in the hospital when the soldiers

Jonathan: Boko Haram can’t blackmail me Continued from Page 1

the President of the Federal Republic of Nigeria to convert to Islam. The presiand civilians were rushed to the Sani Abacha Specialist Hospital, Damaturu. “There were also gunshots reported around the ‘A’ Division Police Station. “We are still working to collect the details of the incident,” he said. There were, however, reports that the death toll was higher than what the police claim. “The reports we are just receiving at the scene of the blast indicated that eight soldiers were killed and two civilians along with the suicide bomber. I am certain that many were killed in today’s blast,” a security source said. According to an eyewitness, identify simply as Isa,

dent cannot be intimidated by any group or individual. The President will never resign. He has the mandate of Ni-

the bomber drove past the military post of the residential quarters, and detonated the explosives before he was stopped by soldiers. The devastating sound of the blast, shocked residents and stopped all activities in the state capital. In the Maiduguri incident, some unidentified gunmen early yesterday shot dead Alhaji Kaasa, a former commissioner for the Environment in Borno State. Witnesses said Kaasa, who was in the Ali Modu Sheriff administration, was shot dead at his home in Bayan Quarters in Maiduguri where the destroyed mosque of the Boko Haram sect was once located.

gerians to serve his father land and nobody should imagine that he will succumb to blackmail”.

He was killed around 1.30am by gunmen numbering about 10 who shot him repeatedly before fleeing the scene. The gunmen also reportedly ransacked the rooms of his wives and carted away an undisclosed amount of money and jewelry. There was no immediate claim for the attacks, but it was similar to scores of others carried out by Boko Haram, whose insurgency has killed hundreds in North. Police commissioner Patrick Egbuniwe confirmed the explosion and said that there were military casualties, without providing a figure. The attack followed a sui-

cide bomber’s attempt to assassinate Yobe State’s top traditional Muslim leader, the Emir of Fika, on Friday. The bomber sought to approach the emir after Friday prayers in the city of Potiskum but was pushed away. He blew himself up and wounded a number of others. Authorities have been carrying out raids since the attempted attack in a bid to arrest suspected members of Boko Haram. In a Youtube the suspected leader of Boko Haram criticised United States US President Barack Obama over Washington’s decision to label him a “global terrorist”. It was unclear when the video was made, but it

marked the first time Abubakar Shekau publicly addressed the terrorist designation slapped on him by the United States in June. In addition to Shekau, the US State Department also announced the designation for Abubakar Adam Kambar and Khalid al-Barnawi. Kambar and Barnawi were said to be linked to Boko Haram and Al-Qaeda in the Islamic Maghreb, Al-Qaeda’s North African branch. Members of Boko Haram are believed to have received training from Al-Qaeda in the Islamic Maghreb in northern Mali, and Western countries have been watching closely for signs of further cooperation. Some US lawmakers have been pushing Obama’s administration to label Boko Haram a terrorist organisation, but American diplomats have stressed that the group remains domestically focused.

ADVERT HOTLINES: 01-280668, 08070591302, 08052592524 NEWSROOM: LAGOS – 01-8962807, ABUJA – 07028105302 COMPLAINTS: 01-8930678

THE NATION MONDAY, AUGUST 6, 2012

NEWS Fed Govt, Ekiti train bakers on cassava bread THE Federal Government and the government of Ekiti State have trained 150 bakers on the techniques of making cassava bread. The training organised with the technical support of UTC, the leading cassava bread producer, and facilitated by its Managing Director, Mrs. Folusho Olaniyan, took the trainees through the process of production of cassava bread from high quality cassava flour mixed with wheat flour. UTC, courtesy of the Federal Ministry of Agriculture and •Minister of National Planning /Deputy Chairman, National Planning Commission Dr. Shamsudeen Usman (middle), Lagos State Commissioner for Economic Rural Development, has Planning Ben Akabueze (left) and representative of the Nigeria Governors’ Forum (NGF), Alhaji Abdullateef Shittu at a news conference on GDP computation at the provided each of the trainees Lagos State House, Alausa, Lagos PHOTO: MOSES OMOSEHIN with starter packs, which include a bag of high quality cassava flour, a pack of enzymes for the rising of the dough and improvement of the texture of finished bread and some baking tools, aprons, dough scrapper, and so on. The passing out ceremony, which holds today in Ekiti, will be graced by the Minister of HE Action Congress of Nigeria murder of Oyerinde?’’ (ACN) has urged the The party said the only way the Agriculture and Rural Presidency and the National riddle can be resolved is for the Development, Dr. Akinwumi government to appoint a panel of Adesina, with Governor Kayode Assembly to investigate claims by the HE family of Rev. David Ugolor, who is alleged to be the respected judicial officers to Fayemi, as the chief host. State Security Service (SSS) that it has

ACN seeks probe of SSS over riddle on suspected killers of Oyerinde

arrested the suspected killers of Comrade Olaitan Oyerinde, Edo State Governor Adams Oshiomhole’s aide. In a statement in Lagos yesterday by its National Publicity Secretary, Alhaji Lai Mohammed, the party said it was compelled to make the call following the riddle posed by two pictures carried by a national newspaper on Sunday, which seem to show that the security agency may be recycling the same suspected criminals for different offences. It said the three suspects in the first picture, who were paraded by the SSS on March 14 for allegedly kidnapping and murdering Briton Christopher MacManus and Italian Franco Lamolinara, in Sokoto, appear to be the same as three of the suspects in the second picture, who were recently paraded by the same SSS for allegedly killing Oyerinde. The party said: ‘’Three of the suspects paraded by the SSS for killing Oyerinde appear to wear a complete replica of the same shirts worn by the suspects paraded for

Family of detained activist seeks release

sponsor of the murder of Comrade Olaitan Oyerinde, has urged the police to remain . The family said Rev. Ugolor is being incacerated unjustly, saying he should have been released immediately the State Security Service (SSS) paraded the “real killers of Comrade Oyerinde”. Spokesperson for the Ugolor family, Ernest Edosom spoke at a news conference in Benin City. Edosomwan wondered why two different groups would claim responsibilities for the death of Olaitan. Edosomwan said: “Our brother (Ugolor) told us that the suspect said the advance payment was made at Ring Road (Kings Square) in Benin City. “We can’t fathom the idea that the SSS had paraded a group that confessed that they killed the person (Olaitan ) and another group is claiming that they also killed the same person. “It is a political issue. Our son should not be killed for political matter We see the detention as illegal. “We have seen him and it is a political issue. Our son should not be killed for political matter. He should be immediately released to us.” By Wale Ajetunmobi

killing the foreigners in March. The pictures published by the newspaper is so compelling that we are forced to ask a number of questions from the SSS. Is the agency recycling suspected criminals and deceiving the people that it is indeed solving

criminal cases? Does this systemic gimmick go higher than the security agency? For how long has this game been going on? What exactly does the government know about this? And is the PDP privy to this recycling? If not, why was the party so quick to ask the ACN to apologise over the

investigate the SSS, while the National Assembly must conduct a public hearing at which the suspects paraded for killing the foreigners will be placed side by side with those paraded for killing Oyerinde. ACN said: ‘’The reason why it is important to get to the root of the whole case is because the role of the SSS is so critical in ensuring peace and security in the country. For example, the federal government has relied largely on the agency to curtail the activities of the Islamic sect Boko Haram. If the agency has been cooking up stories and briefings to government and recycling criminals, how can it satisfactorily play its role? How can it help in resolving the many high profile murders that have been recorded in the country? ‘’Is it that once any case cannot be resolved or points to government’s suspected involvement, the SSS rounds up some scallywags and parades them to the media, only for the case to go cold? What has become of the suspects paraded in March for allegedly killing the foreigners?’’

Diabetes, hypertension on the rise, warn Leo’s Club, group

ORRIED by the rising incidence of diabetes and hypertension in Nigeria, LEO’s Club and Social Aid Initiative, a non-governmental organisation have urged Nigerians to pay attention to their health. Speaking at a screening and awareness programme at Ado Odo/Ota Local Government, Ogun State, the Executive Director of Social Aid Initiative, Mr. Adeola Akinremi, said: ”The programme was aimed at enlightening Nigerians on the need to pay attention to their personal

health to help prevent diabetes and hypertension. “Most of the affected patients go about their daily lives unaware of their condition and that explains why about 3.8 million people die annually from the disease in Nigeria. We are currently facing malaria, tuberculosis, HIV, polio and cholera diseases that kill hundreds daily and we do not want to add diabetes that is a burden in all ways. We do not want diabetes that can take away the sight that can cause stroke and kidney failure and even cause

death.” The Regional Director of LEO’s Club, Miss Edun Olufunmilayo, lamented the poor attitude of Nigerians towards personal health, urged Nigerians to ensure regular medical check-ups at least twice a year to prevent and manage diabetes and hypertension. She urged diabetes patients to always consult professional dieticians for proper diets before and during management of the disease. She said: “In the case of diabetes, people with risk factors of diabetes

should not eat much of excessive sugary foods. Sugar does not cause diabetes as it is an immune disease that only occurs in people with the risk factors. The Body Mass Index should not be above recommended figure. “Smoking could lead to heart diseases. HPB is not because of thinking as it widely known but occur when we have certain problems with our blood vessels. Blood pressure could be control by regular blood press check. Every good blood pressure should be below 120/80.”

Govt to expand Abuja road From Bukola Amusan, Abuja

BOTHERED by the pains motorists go through daily on the Mararaba-Nyanya Road from the Federal Capital Territory, Abuja, Nasarawa State Governor Tanko Almakura plans to expand it. The governor, who came to access the road at the weekend, said he had been worried by the traffic gridlock on the road and the growing slums in the area. The state government has embarked on a land reform to make roads passable, thereby reducing the stress on the main entry to Abuja. The governor said Abuja must be sanitised, adding his administration would demolish illegal structures on the route. Promising residents and road users that the effects of the land reform would manifest in two to three months, Almakura said the reform which is being championed by the Nasarawa Urban Development Board (NUDB) already has a committee in place to pilot it. His words: “Already, we have started this process and that is why I’m here to see things for myself because immediately after the Ramadan fasting period, we will start to sanitise this area. It would mean demolition; it would mean clearing obstacles that are nuisance on the highway and on the setbacks of the shoulders of the road.”

Tambuwal, governors, Tinubu for book launch

PEAKER of the House of Representatives Aminu Tambuwal, Governors Kayode Fayemi, Rotimi Ameachi, Rauf Aregbesola, Abiola Ajimobi and Babatunde Fashola will tomorrow grace the launch of The Nigerian Political Turf: Polity, Politics and Politicians, a book by The Nation’s Group Political Editor Bolade Omonijo. The public presentation of the book slated for the MUSON Centre, Onikan, Lagos is to be chaired by former Lagos State Governor Asiwaju Bola Tinubu. Other governors expected at the

• Fayemi to deliver lecture on ‘Polity, Politics and Politicians’ presntatio are: Ogun State Governor Ibikunle Amosun, Anambra State Governor Peter Obi, Yobe State Governor Ibrahim Gaidam, Delta State Governor Emmanuel Uduaghan, Kano State Governor Rabiu Kwankwaso and Cross River State Governor Liyel Imoke. Fayemi is to deliver a lecture entitled The Nigerian Political Turf: Perspective of an Active Participant. The Chief launcher is Chairman of Board Hospitals, Dr. Paul Akintelure. Chairman, Senate Commiittee on

FCT, Senator Smart Adeyemi, is colauncher. A statement by the publisher, Madiba Publication, said: “ As our own contribution to nation building, a lecture will be delivered by Dr. Fayemi on the topic, Nigerian Polity, Politics and Politicians: The Perspective of an Active Participant. The thought-provoking lecture is our contribution to the search for new processes and systems to lead our dear country out of the woods. “The Nigerian Political Turf: Polity,

Politics and Politicians, which is a fitting chronicle of the country’s the good, the bad and the ugly. “This book of essays, analyses and ‘tit bits’ traces Nigeria for about a decade. In that era, there was an Olusegun Obasanjo as President, there was the late Umaru Yar’Adua, who was too sick to lead and there is Goodluck Jonathan, who inherited Yar’Adua’s seat and has made history as the first minority to rule Nigeria. What he is doing with power is another matter which though ongoing

•Dr. Fayemi

has generous space in Omonijo’s lucid prose.”

THE NATION MONDAY, AUGUST 6, 2012

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LASAA creates waterways advertising THE Lagos State Signage and Advertisement Agency (LASAA) is set to explore the advertising opportunities available waterways. Its Head, Mr. George Noah, said the initiative is part of the agency’s’ effort to develop a proper master plan for the water sector of the outdoor advertising market. He said LASAA intends to make Lagos a foremost city in Africa and indeed the world through creative outdoor advertising experience. “LASAA is working closely with Lagos State Waterways Authority to maximise the potentials and benefits of water advertising in the state. “We are working on developing other means of outdoor advertising aside from land. These include sky and water advertising,” Noah said. He added that the aesthetics and ambience it will provide be huge for outdoor advertising. “This platform will no doubt encourage practitioners to become more innovative with other medium of outdoor advertising particularly water,” he said.

Wale Adenuga to float TV station LESS than a year after Superstory was adjudged the most watched drama in the country, it creator, Wale Adenuga is set to float his own television station. He has obtained a licence for his own Television Station, Wale Adenuga Production Television (WAP TV). According to reports, he is currently holding auditions and recruiting for the station which is expected to start operation October 1. Wale Adenuga is behind drama series like This Life, Superstory and Binta my Daughter.

Pepsi names Wizkid, Savage ambassadors By Mercy Michael

MUSIC sensation Wizkid and Tiwa Savage have been unveiled as Pepsi’s blue, bold and beautiful ambassadors. The event took place at the Liqwid Lounge, Victoria Island, Lagos. Clad in beautiful outfits, the two celebrities shone like million stars and it was almost difficult to calm the fans, who couldn’t get enough of them. Pepsi’s Marketing Manager Mazen Al Masri said the brand is delighted to bring the talented musicians on board. “They represent the Pepsi brand essence of inspiring a youthful lifestyle and refreshing the world of our consumers,” Al Mazri said. He added that Pepsi is passionate about developing talents that abound in Nigeria, including football as the Pepsi Football Academy has been doing for the past 20 years. He also highlighted the newly introduced MBA Harvard Business Scholarship aimed at giving young Nigerians a world class education.

• •The bus. Inset: Tiamiyu’s motorcycle.

Father of five dies in road crash

FATHER of five, has died from injuries sustained after being knocked down by a driver. Tiamiyu, who was riding his motorcycle with registration number Q5834AAA was hit by a vehicle belonging to the Lagos University Teaching Hospital (LUTH). The vehicle with number plate FG 467 Q12 was driven by Lanre Osho. The accident occurred around 9pm on Thursday along Ade-Oyo Street, off Sadiku Street, Ilasamaja, Mushin. Khalifah, as Tiamuyu is fondly called, and his passengers were rushed to May Hospital, on Sadiku Street, Ilasamaja, Mushin, Lagos Mainland. The hospital referred them to LUTH, where Tiamiyu died the following morning. The Nation learnt that residents of the area where the accident occurred deflated the vehicle’s tyres in anger. According to an eyewitness,

By Tajudeen Adebanjo

Yemi Adeleye, “the driver was reckless that night. You wonder why he has to engage such speed in a narrow area. We just thank God that it was not in the day time when school children flock the road.” Adeleye described the driver’s action as “heartless.” “The incident is better imagined. I thought I was watching a movie with the horrible way the driver ran into the motorcyclist and his passengers. I know the victims will require miracle to be alive,” Adeleye said. Sulaimon Asiwaju, a commercial motorcyclist, was among those who rushed the victims to hospital. He said: “What attracted us was the horrific situation of the accident. I parked and immediately attracted by the green cloth Khalifah wore on that day. People apprehended the driver while trying to run away.

The same LUTH vehicle was used to convey the victims to May Hospital. When the hospital rejected them, the angry youths deflated the bus tyres and conveyed them to LUTH with a Danfo. I left immediately to call his relatives. We all left for LUTH where he was placed on oxygen, his eyes were swollen and blood gushed out from various parts of his body. His legs were broken. No, this cannot be Khalifah, a relative said amidst sobs. Some wept like baby seeing the damage the driver had caused. “We saw the driver a few minutes later reeking of alcohol . We learnt that the nurses on sighting him yelled “You this stupid driver again. You have ruined other people’s lives.” The Nation followed the bereaved relatives who reported the matter to the Olosan Police Station, Mushin on Friday, at the instance of the Mushin Area Commander. At the station, it took the intervention of the Area

Commander for the Police to act. The complainants had been chased away by the Divisional Traffic Officer (DTO), who accused them of not reporting the case on the night of the accident. “What do you want me to do now when you failed to report last night, you are now coming when your man is dead. Leave this place, there is nothing I can do,” the DTO Ndukauba Onuma. Immediately, a call was made to the Area Commander who spoke with Onuma on phone. The DTO later raised two officers to take up the case. The officers Chijago Vincent and Amodu Nuhu went to LUTH to tow the vehicle to the station. The driver, according to LUTH PSO Akinbohun on Friday, is emotionally not balanced. Akinbohun promised to hand the driver over to the police the next day. At the time of filing this report yesterday, Osho has not been handed over to the police.

Woman allegedly pushes four-year old into well

40-year-old woman, Kuburat Bello, has allegedly pushed her neighbour’s four year-old daughter, Happiness Solomon, into a dry well. The incident occurred at 1, Haruna Street, Fadeyi, Lagos, following a quarrel between the suspect and Happiness’ mother. Kuburat was said to have been arrested after her own daughter told neighbours that it was her mother who pushed Happiness into the well. Her little daughter, it was gathered, told neighbours how her mother allegedly lured the deceased to the side of the well and pushed her inside.

By Precious Igbonwelundu

The Nation gathered that the matter was reported at the Fadeyi Police Station. It was transferred to the State Criminal Investigation Department (SCID), Panti, Yaba, following which she was charged with murder before a Yaba Magistrate’s Court. Her plea was not taken as the court lacks jurisdiction to hear the case. Magistrate Mrs S K Metepo ordered that she be remanded at Ikoyi Prison, adding that the case file should be sent to the Director, Public Prosecution (DPP), for advice. The matter was adjourned for DPP advice.

‘He chased me out because I don’t have a son’

E married her some 12 years ago, while she was 20. The union is blessed with five children-all girls. Apparently disappointed at his wife’s inability to bear a male child, Tajudeen Adenukan divorced her. Now, there is a twist to the story. Kuburat has filed a case of stealing against her estranged husband before an Ejigbo Magistrate’s Court, eight months after he divorced her. Adenukan, 55, who divorced his wife in November, last year, at the Igando Grade B Customary Court, was a director in the Office of the Auditor-General of the Federation. He was asked to pay her N100, 000 as alimony as well as allow her to pack her things and those of their children out of his home. But Kuburat is alleging that her former husband burgled her apartment and carted away valuables worth N1.9million. She claimed that not only did he burgle her apartment, he also stole the N100,000 alimony he paid her, adding that life has been hard for her and the children whom she claimed could no longer go to school. “I left his house empty handed

•Adenukan By Precious Igbonwelundu

because he broke into my apartment and made away with all my property including the N100, 000 alimony.” The customary court gave an order that he should allow me carry my property in the presence of the court officials, so that I can start a new life, but instead of doing that, Tajudeen broke into my apartment, parked my things out and rented out the place,” she said. Adenukan’s union with Kuburat was the second to be dissolved. Earlier, he had dissolved a 15year-old marriage with another

•Mrs. Adenukan

woman because she could not bear him children. He married Kuburat thereafter. Kuburat told The Nation that though the matter happened eight months ago, “it was not reported or brought to the notice of the court, because he had promised to pay for all the things that were lost; but, eventually, he reneged, this made her to make a formal report following which the police charged him with stealing. Among the properties Kuburat alleged were stolen from her apartment were clothes, cooking utensils, gold and other jewelleries and cash valued N1.9m.

Magistrate Mrs. M.B. Folami observed that they were husband and wife from the charge and sought to know why they were in court. It was then Kuburat told the court that he divorced her because she could not give him a male child. She said: “If I had at least one son, my husband would not have divorced me. “Then after divorcing me, he went and broke into my apartment and packed everything out, since then he does not even know how his children are faring. The five of them have stopped going to school because there is no money.” Magistrate Folami, who frowned at gender discrimination, told them to find a way to resolve their differences for the sake of their children. Adenukan denied Kuburat’s allegations, saying he loved his children irrespective of their gender. He said: “I have been making efforts to see my children but my efforts have been futile.” Adenukan urged the court to intervene and resolve the matter amicably.

THE NATION MONDAY, AUGUST 6, 2012

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Suspected LASTMA impersonators charged

Court remands businessman for alleged N106m fraud A Lagos High Court has ordered that a businessman, Jonathan Udeagbala, be remanded in prison custody for allegedly defauding his partners of about N106 million. Justice Deborah Oluwayemi, ordered his remands after his was arraignment on a fourcount charge of fraudulent conversion and issuance of dud cheques. Udeagbala, a Lagos-based businessman was arraigned with his company, Lynq Communications Limited. He pleaded not guilty to the charge brought against him by the Economic and Financial Crimes Commission (EFCC).

By Eric Ikhilae

He was, in count one, alleged to have stolen by fraudulently converting to his use, about N106, 250,000 belonging to Victory Electronics Company Limited and Fakwe Investments Limited. In count two, Udeagbala was accused of inducing his purported business partners – Leonard Okafor (of Victory Electronics) and Francis Nwadinobi (of Fakwe Investments) - to invest the said amount in his company, with a promise of earning some returns. Counts three and four accused him of issuing two cheques of N10million each to Okafor and

Nwadinobi, “knowing that there were no sufficient funds in the account and the cheques were dishonoured and returned unpaid when they were presented for payment.” At the proceedings were Adaku Bama (who held watching brief for the complainant), Rotimi Oyedepo (for the prosecution) and Chuka Agwu (for the defence). Agwu, prayed the court to giant him bail because an accused is presumed innocent until proved otherwise adding that his alleged offences were bailable. Oyedepo opposed bail, arguing that Udeagbala may not return for trial having allegedly

By Tumininu Owolabi and Fisayo Ige

•Udeagbala

jumped the bail granted him by EFCC. He urged the court to refuse his bail application. Justice Oluwayemi ordered his remand and adjourned till August 13.

Lagos to unveil strategic growth plan

HE Lagos State Government will soon unveil a 15-20year strategic development plan (SDP). Director of Planning in the Ministry of Economic Planning and Budget Mr Seun Akinsanya said the plan is part of the forward looking initiatives of the Ministry. Speaking at a workshop to strengthen the capacity of government institutions to incorporate population issues into policies, development strategies and expenditure framework, Akinsanya , said SDP aims at ensuring that the state continued to grow on a sustainable path laid down by the Fashola administration. Akinsanya said the Ministry has started collating input into the 2013 budget, adding that the workshop is aimed at strengthening the capacity of all

By Yinka Aderibigbe

Ministries, Departments and Agencies (MDAs), to collate accurate data for deepening delivery of democratic dividend to residents. He said: “Issues of social inclusion, gender and reproductive health are now at the forefront of planning as they affect population and the collation of a faulty data would do collateral damage to economic planning and projection.” The Ehingbeti summit administrator, Mr Moses Viho, said SDP is being coordinated by a consultant. While urging MDAs to come up with accurate data that could aid better projections in government plans, Viho said the focus of the SDP is sustainable development planning, which aims at

consolidating the gains of the present administration in economic, infrastructural growth, and poverty alleviation. The SDP, he said, would focus on four clusters – economic, social, infrastructural and environmental, adding that the Ministry is awaiting the financial implications of these clusters and other minute details from the various MDAs in the state. In his papers, a United Nations Population Fund Agency (UNFPA) reproductive health trainer, Dr Omolasho Omosehin, said eradication of poverty and hunger cannot be achieved if questions of population and reproductive health were not tackled. According to him, reproductive health and women’s empowerment in turn exert a powerful influence on demography and population

trends and must be taken into consideration by MDAs if impact must be made in the fight against poverty. Omosehin who delivered three papers: Exploring the link between population, poverty and development; Gender equality and development and the UNFPA mandates in reproductive health (including family planning and sexual health), said adequate planning must address safe motherhood, family planning, prevention of HIV/AIDS, adolescents and youth, gender equality and reproductive health supplies. This according to him is because population policies and programmes that have a narrow focus on issues of reproductive health would slow down population growth and sustainable planning.

Absence of prosecutor stalls cases in Magistrate’s Court

HE absence of Police prosecutors in most of the Magistrate Courts in Lagos have stalled criminal proceedings as Magistrates were left with no option than to adjourn cases. The state police command last month posted 67 experienced prosecutors out of the legal department at the State Criminal Investigation Department (CID), Panti, Yaba on grounds of

Boy, 15, allegedly killed by sister-in-law By Jude Isiguzo

OR allegedly stealing his sisterin-laws money to buy Gala sausage, a 15-year-old boy has been reported killed. The boy-Senbou, who was living with his elder brother and wife, was allegedly beaten to death by the sisterin-law simply identified as Iya Anu. It was learnt that the suspect had allegedly attacked the deceased for allegedly stealing her money to buy the sausage. The incident occurred around 3pm yesterday at 8, Amosun Street, off Community Road, Ijegun, Igando area of Lagos. Police operatives attached to Isheri Police Station, moved in immediately the incident was reported by neighbours and arrested the woman. Sources alleged that the woman has never liked the boy’s presence in her matrimonial home and was always beating and punishing him for flimsy reasons. According to neighbours, there was a time she almost killed the boy, but for the timely intervention of neighbours.

By Precious Igbonwelundu

administrative strategy to eradicate corruption from the force. Investigation revealed that about 400 officers from the state CID were affected in the posting which was a directive from the Commissioner, Mr. Umar Manko. At the Mushin, Ikeja and Igbosere Magistrate’s Court, criminal matters were not heard in most courts. This, our investigation revealed was due to the fact that the prosecutors manning those courts have been posted out without their replacements deployed to

carry n with the responsibility. Some of the litigants who spoke to our reporter on the development expressed worry that the posting out of prosecutors with five years and above experience to other departments will amount to criminals going scot free. Complainants said their fear was that defence counsels will play on the ignorance of the would-be prosecutors and thwart proceedings and pervert justice. Others said they were not happy because justice will be delayed and urged that the police should reconsider the posting out of prosecutors.

While some of the affected prosecutors welcomed the development and said it will expose them to other police fields, others however, lamented on the fate of their cases. “The Legal department is not like everyother department, police officers from legal can cope or fit anywhere but officers who barely have experience in prosecution will just mess our cases and that it is not good for the image of the police. “There is nothing wrong with posting and transfer, but it will make nonsense of the police if the cases we have already established are rubbished,” they said.

•From left: Director-General Lagos State Safety Commission Mrs. Dominga Odebunmi, Representative of the Head of Service Dr. Aderemi Desalu and Mr. Toba Otusanya, Director-General Office of Transformation, during safety orientation for Civil Servants held at Adeyemi-Bero Auditorium, Alausa.

TWO men, Mayowa Saheed and Akinlade Saheed have been arraigned before a Lagos Magistrate’s Court for impersonating Lagos State Traffic Management Authority (LASTMA) officials. Mayowa, 23, a generator mechanic and Akinlade, 35, a motorcyclist, are facing, three-count charge of conspiracy, stealing and impersonation. Prosecuting Inspector Samson Ekikere told the court that the accused committed the offence about 7.40am on July 7, at Bank Antony Way beside Sheraton Hotel, Ikeja. The prosecutor said Mayowa and Akinlade on the aforesaid date, time and place, stole one Boxer Bajaj motorcycle valued N80, 000 belonging to Adams Sadam of No 44, Military Cantonment Ikeja. He said the accused acted contrary to Section 285 of the Criminal Laws of Lagos State 2011. Ekikere said the accused normally sell the stolen motorcycles to one Gafar who repairs motorcycles at Agege and Tonny Nwanke who owns a spare parts shop in Iju-Ishaga, Lagos State. He said the offence contravenes Sections 409, 285 and 378(1) of the Criminal Laws of Lagos State of Nigeria 2011. When the charges were read, Mayowa and Akindele pleaded not guilty. The Magistrate, Mrs Taiwo Akanni, granted them N100,000 bail, with two sureties in the like sum and adjourned the matter till October 24.

‘We will protect your interest’ By Oziegbe Okoeki

SPEAKER of the Lagos State House of Assembly Adeyemi Ikuforiji has assured Lagosians that the lawmakers would not pass the cremation bill against their wish. A public hearing was held on the bill last month and a report is expected to be submitted to the House when it resumes from recess. Ikuforiji, who spoke at the Ramadan Lecture he organised in Ikeja, urged the people to remain calm, saying legislators are representatives of the people. He said it would be a disservice if interests and wishes of their constituents were not respected. “Let me assure our Muslim and Christian brothers and sisters that the House will not go against your wish concerning the cremation bill. If you say you do not want the bill, we will not pass it. We will not do anything to jeopardise your interest,” Ikuforiji said

Two arraigned for kidnapping, theft TWO young men have been arraigned before a Lagos Magistrate’s Court at Ikeja for kidnapping and stealing N250, 000. Jibrin Ishaya, 30, and Ibrahim Ayagi, 29, are facing a three-count charge of conspiracy, stealing and kidnapping. Prosecuting Inspector Rachael Williams told the court that the accused committed the offences on November 22, last year, at Obalende, and on July 16, at Igbosere. Williams told the court that Jibrin and Ibrahim allegedly kidnapped Muiritala Salihu in his residence at Igbosere about 6pm on July 16, an act he said is contrary to Section 269(1) of the Criminal Laws of Lagos State 2011. She alleged that the accused also stole N250, 000 belonging to Salihu. The three-count charge stated in part: “that you Jibrin Ishaya and Ibrahim Ayagi and others now at large on the 22nd of November, 2011 at Obalende area of Lagos did conspired to steal and kidnap, thereby committing an offense punishable under Section 409 of the Criminal Laws of Lagos State of Nigeria 2011.” The accused pleaded not guilty to the charges. Magistrate Mrs Olagbegi Adelabu, granted them N100,000 bail with one surety each in the like sum, while she adjourned the case till August 16.

THE NATION MONDAY, AUGUST 6 , 2012

NEWS Rep institutes award at FUTA A HOUSE of Representatives member representing Gbonyin/Ekiti East/ Emure in Ekiti State, Bamidele Faparusi, has instituted an annual educational award at the Federal University of Technology (FUTA), Akure, Ondo State. The Action Congress of Nigeria (ACN) lawmaker announced the award at a public lecture organised by the FUTA chapter of the Federation of Ekiti Students Union (FESU). At the lecture entitled: Ekiti Educational Legacy: The Renaissance, Faparusi called the gesture the Ekiti Educational Legacy Award. It is for the best graduating student of Ekiti extract in the university. An award plague with N100,000 cash, he said, would be presented to the brilliant student, who must pass out with a minimum of Second Class (Upper Division) at the end of each session. Speaking with The Nation yesterday, Faparusi said: “I need not reiterate the fact that education has for long remained on a steady decline nationwide. It is, therefore, the duty of all - the government and privileged individuals - to revamp it, because it is a truism that the future of any nation depends on its educated populace.”

Ogun PDP chief pleads for peace A CHIEFTAIN of the Peoples Democratic Party (PDP) in Ogun State, Prince Buruji Kashamu, has urged the Inspector-General of Police (IGP) Mohammed Abubakar; the Director-General of the State Security Service (SSS) Ita Ekpeyong; Police Commissioner Ikemefuna Okoye and the Director of SSS, Joseph Okpo, to prevent a breakdown of law and order in the state. He spoke against the backdrop of comments credited to Dipo Odujinrin, who claims to be the chairman of a “parallel PDP Exco” in the state. The politician alleged that Odujinrin and other members of the “Exco” wanted to forcefully take over the party secretariat from the Adebayo Dayo-led Exco. In a statement yesterday in Abeokuta, the state capital, Kashamu urged the security agencies to implement various court judgments, which he said affirmed the Dayo-led Exco as the authentic management body of the party in Ogun State.

We owe the aged regular welfare, says Aregbesola

SUN State elders yesterday received a welfare package from the Rauf Aregbesola administration. It is tagged Welfare Scheme (Agba Osun) for Our Senior Citizens. The programme comprises an award of food and money to over 1,602 highly vulnerable men and women. The governor said 136 elderly persons, who are in need of critical medical attention, were singled out for medical attention during routine tour of the homes for the sick. Aregbesola said the sad condition of senior citizens did not escape his administration’s attention as many of them are hungry, many are ravaged with preventable

•1,602 Osun elders get govt package From Adesoji Adeniyi, Osogbo

diseases while many are even homeless. He added that this is outrageous and unacceptable to his government, which rode on the wings of popular mandate to power. He said the programme was established because the aged constitute the third leg of the vulnerable group in the society, the others being children and women. The governor said it took his administration some time to institute this welfare programme because the government conducted a census of the elders across the local

governments and wards. It was from this census that the government selected the most vulnerable, totalling 1,602. Aregbesola identified the elders’ two greatest needs to include food and money, saying his administration has begun providing them with food and regular stipends. The governor added that those in need of urgent medical attention would be taken care of as well. He promised that his administration wanted the elderly to spend their old age in peace, comfort and good health. Aregbesola said: “You will

recall this is not our first intervention for them. Last year, in association with our partner organisation, Oranmiyan Worldwide, we provided free eye treatment for people in the state. A large number of them were senior citizens who received free eyeglasses and free eye surgery. “What we are doing today (yesterday) is also a demonstration of our belief in people as the basis of development. We are massively engaged in infrastructure development, constructing roads and schools, providing safe water, developing agriculture, enhancing transportation, providing security and

Police arrest four with N1.7m Indian hemp From Oseheye Okwuofu, Ibadan

•The scene of the crash on the Lagos-Ibadan expressway, Ibadan...yesterday

PHOTO: NAN

Two burnt to death in Ibadan road crash

WO unidentified travellers have been burnt to death in an accident on the Lagos-Ibadan Expressway in Ibadan, Oyo State. As at yesterday afternoon, when The Nation visited the scene, men of the Oyo State Fire Service were battling the fire that engulfed the J5 bus in which the travellers died on Saturday. There were long queues of vehicles around the scene. Rolls of electrical materials, worth millions of naira, were destroyed in the crash. Scores of sympathisers and

From Oseheye Okwuofu, Ibadan

rescue workers converged on the scene. Three persons - a driver and two other occupants were said to be in the J5 bus heading to Katsina from Lagos. The vehicle, with registration number XA 142 CRC, reportedly somersaulted and caught fire. It was learnt that a trailer carrying wood wanted to make a U-turn at the Aduloju Bus Stop in Bodija, Ibadan, on the expressway at 1am.

The driver of the bus was reportedly attempting to avoid the trailer. The bus driver was said to have applied the brake, making the vehicle to crash into a stationary vehicle. The bus was said to have exploded. It was learnt that some worshippers at a nearby church and some security guards rushed to the scene. A source said the occupants of the vehicle were brought out with severe burns and taken to a nearby hospital for treatment. But two of them reportedly died at the hos-

pital. The Principal Fire Superintendent of the Oyo State Fire Service, Mr. Olayemi Abdul Rasak, led other fire fighters to the scene at 1.35am. He said there were only three occupants in the vehicle and that they sustained various degrees on burns. The fire chief said the J5 bus was carrying electric cables to Katsina State. The Sector Commander of the Federal Road Safety Commission (FRSC), Godwin Ogagaoghene, confirmed the incident. He said officials of the corps were sent to the scene for a rescue operation.

Two PHCN contract workers electrocuted in Oyo

ARELY two months after five women were electrocuted at Apata in Ido Local Government Area of Oyo State, two Power Holding Nigeria Company (PHCN) workers were on Saturday night electrocuted in Ibadan, the state capital.

From Oseheye Okwuofu, Ibadan

A source said the incident occurred when the workers were rectifying an electrical fault at Eleyele, Ido Local Government. The deceased, it was learnt, were invited by

some residents of Omotoso Street, Eleyele, to fix a fault. They were said to have climbed the pole where a live cable fell on them and electrocuted them. The workers were said to have died on the spot. The deceased, it was learnt, were on contract with the

PHCN. The incident, it was gathered, was reported at the Eleyele Police Division. Police spokesperson Olabisi Ilebanafor, a Deputy Superintendent of Police (DSP), said concerned residents reported the incident to the police.

ACN chieftain urges electorate to reject Mimiko in October poll

CHIEFTAIN of the Action Congress of Nigeria (ACN) in Ondo State and the Special Adviser to Osun State Governor on Environmental Matters, Mr Bola Ilori, has urged Ondo State electorate to ‘vehemently’ reject Dr. Segun Mimiko in the October 20 governorship election. Ilori, who addressed re-

so on. “Nevertheless, we are doing all these with human development at the back of our mind. We want our people to live a long and qualitative life. We have no business with national average life expectancy if we take care of our people. “Before we came into office, we were determined that no groups would be left out of the impact of governance. There is still a greater reason for us to consider them. The elderly group was part of the glorious tradition of our party – from the Action Group (AG), to Unity Party of Nigeria (UPN), the Social Democratic Party (SDP), the Alliance for Democracy (AD), Action Congress (AC) and the Action Congress of Nigeria (ACN)…”

From Adesoji Adeniyi, Osogbo

porters in Osogbo, the Osun State capital, noted that Mimiko’s desperation for a second term from the beginning made him to engage in “cunning means” to deceive and cajole the people. He said: “Mimiko …should not be trusted with

a second term in office.” The ACN chieftain said Mimiko’s achievements were far too few and executed at exorbitant cost. Ilori said Mimiko used the power of propaganda to make the situation of things look so as if he was the best that could happen to Ondo State. According to him, a second

term for the governor will only allow him to increase the underdevelopment of the state in a greater dimension. The ACN chieftain, who is also the founder of Oranmiyan Sunshine Forum in Ondo State, said the people deserve a better deal than what Mimiko has offered them in the last four years.

Ilori urged the people to vote en masse for ACN candidate, Rotimi Akeredolu (SAN), who he said would give the state better welfare and development. He said Akeredolu has been a success in all of his endeavours, adding that he will use his Midas touch to bear on the growth and development of Ondo State.

EN of the Oyo State Police Command have arrested four persons with dried weeds suspected to be Cannabis (Indian hemp). The drugs were allegedly neatly concealed in 17 bags. The weight of the substance could be ascertained at the time of arrest at the weekend. But the market price of the 17 bags was estimated at N1.7million. Addressing reporters at the police headquarters in Eleyele, Ibadan, Deputy Commissioner of Police Clement Adoda said the suspects were arrested at Ojo Motor Park when they were attempting to move the drugs to the Jebba, Niger State, and Kano State. He gave the names of the suspects as Idowu Domic, Senab Umoru, Adebowale Morounfoye and Ajoke Oyebola.

Fayemi assures on timely completion of projects

KITI State Governor Kayode Fayemi has said his administration would complete ongoing road projects in every part of the state. The governor spoke at the weekend during his monthly media chat, Meet Your Governor. Fayemi said he has the assurance of some contractors to work at nights to ensure that projects are delivered on time. The governor said his administration has never deducted from allocations to local governments, adding that the councils get what is due to them from the Federation Account. Fayemi, who was hailed by many callers for his administration’s populist programmes, explained that some of the road projects are almost ready for inauguration. He said all communities would benefit from road and other capital projects to stimulate socio-economic activities in the state.

THE NATION MONDAY, AUGUST 6, 2012

THE NATION MONDAY, AUGUST 6 , 2012

NEWS NCP presents candidate for Ondo poll

HE governorship candidate of the National Conscience Party (NCP) in Ondo State emerged at the weekend. Mr. Lawrence Bolade Oladipo emerged the party’s standard bearer at the NCP’s primary, which was held at Grand O’Tad Hotel in Akure, the state capital. Oladipo emerged unopposed. The event was witnessed by officials of the Independent National Electoral Commission (INEC) and the State Security Service (SSS). NCP was founded by the late legal icon, Chief Gani Fawehinmi, who hailed from Ondo town. Speaking after the primary, NCP National Chairman Dr. Yunusa Tanko praised members for conducting themselves peacefully. Assuring members that the party will win the October 20 election, Tanko said NCP is determined to eradicate poverty in the state. He said the abolition of poverty is important in solving the problems of the masses. Tanko said NCP would never endorse a nonperforming incumbent because of personal rewards. He said the party is interested in the state’s progress and urged residents to ensure a peaceful election. A new executive was appointed to manage the affairs of the state party. Mr. Adelana Oladunmoye is the Acting Chairman and Mr. Oguntuyi Gabriel is the Acting Secretary.

Fayemi pledges to improve education

KITI State Governor Kayode Fayemi has said he will improve the quality of education in the state. Dr Fayemi said he would restore the state’s glory as the “Fountain of Knowledge”. The governor spoke at the weekend in Ijero Ekiti while inspecting a hostel project at Doherty Memorial College, Ijero. The hostel is being built by a former Executive Director of the Nigerian National Petroleum Corporation (NNPC), Mr. Biodun Arokodare. Arokodare is an alumnus of the school. Urging Nigerians to emulate Arokodare’s gesture, Fayemi said revamping the

•Govt to rid councils of ghost workers From Sulaiman Salawudeen, Ado-Ekiti

education sector should not be left to the government alone. He said it requires the collective effort of the government, individuals and organisations. The governor said an initiative tagged ‘the Adopt a School’ programme, which will enable individuals and organisations to choose a school they would like to assist, would soon be inaugurated. He said Christ’s School, Ekitiparapo High School, Doherty College and a few others were excluded in the first phase of the “Operation

Renovate All Schools in Ekiti (ORASE)” because they are getting some assistance from their alumni. Fayemi said 100 of the 183 secondary schools in the state would benefit from the first phase of the programme. He said the state has good teachers and the quality of education would improve when a conducive learning environment is provided. Fayemi said the government has ordered for 40,000 units of school furniture, which will be distributed to public secondary schools. The Caretaker Chairman of Ijero Local Government Area, Mr. Biodun

Omoleye, said the council was renovating 10 primary schools. He said skill acquisition training is ongoing for youths. Also at the weekend, at his monthly media chat, tagged: “Meet Your Governor”, Fayemi said contractors handling road projects had agreed to work at night to ensure speedy completion. He assured the people that the projects would be completed as scheduled. Urging residents to bear the inconveniences caused by the construction, Fayemi said “there can be no gain without pain”. The governor said his ad-

‘Mimiko is wasting funds’ From Damisi Ojo,Akure

•Osun State Governor Rauf Aregbesola (middle); his deputy, Mrs. Titi Laoye-Tomori (left); Madam Mopelola Alade from Olorunda Local Government Area (second left); Madam Dada Komolafe from Ilesha West (third right); Madam Aishat Jimoh from Ede North (second right) and Commissioner for Health Mrs. Temitope Ilori during the inauguration of the state’s welfare scheme for the elderly, Agba Osun, at the Civil Service Commission in Osogbo, the state capital...yesterday.

Ilaje 11 urges ACN on deputy governorship ticket

HE Ondo State chapter of the Forum for Good Governance (FFGG) at the weekend rose from its quarterly meeting in Igbokoda, headquarters of Ilaje Local Government Area, clamouring for the zoning of the deputy governorship ticket to Ilaje Constituency II. In a statement by it’s Acting Chairman, Omotayo Erejuwa, and Secretary Ayo Williams, FFGG said: “The leadership of the Action Congress of Nigeria (ACN) has displayed political maturity and courage in zoning the governorship and Deputy Governorship slots to Ondo North and South Senatorial Districts. “It is politically expedient and economically desirable that the position of Deputy Governorship should be zoned to Ilaje/Ese-Odo to pacify the restive people of the crude oil producing areas of the state. “Ilaje Local Government Area accounts for all the offshore oil quota accruing to the state from the Federation Account. The area is made up of two constituencies, Ilaje I and II. Ilaje I has produced two senators, three House of

ministration had never deducted any amount from the allocation of local councils from the Federation Account. Reacting to a question on the staff audit on councils, Fayemi said the exercise became necessary to get rid of ghost workers. He said some council workers had been drawing salaries from two to three places, adding that the biometric registration of staff would prevent such practices. Fayemi said: “We want to nip in the bud things that negatively affect genuine council workers. Some people believe they have to collect salaries from the local government without doing anything. “The audit is in the interest of Ekiti people. We need to know the legitimate council workers. Anyone found to be an impostor would be told to leave. “I have been to a local government office where I found 30 people doing what two people can do. There are other places we can put them. Our aim is not to retrench anybody, but to make them more useful to the system.”

Group hails Akeredolu’s choice

group in Ondo State, the Ondo South Youth for the Action Congress of Nigeria (ACN) (OSYA), at the weekend hailed the national leadership of the Action Congress of Nigeria (ACN) on the emergence of former Nigeria Bar Association (NBA) President Rotimi Akeredolu (SAN) as the party’s standard bearer for the October 20 governorship election. In a statement by its President, Taiwo Bayonle, after an emergency meeting in IleOluji, OSYA praised ACN National Leader Asiwaju Bola Tinubu for promoting democracy in the Southwest and the nation. It said: “We sincerely commend the leadership of the ACN at the national and state levels on the choice of Akeredolu as the party’s standard bearer for the October 20 election. “The victory of the ACN is God-ordained with the choice of Akeredolu, who has a sound pedigree.” OSYA urged the party to consider the adoption of a governorship aspirant, Mr. Felix Rawa, as Akeredolu’s running mate. It said: “Rawa is a notable community leader in Ilaje Local Government Area and a strong pillar of the party. He is a core aborigine and is credible. “The people of South Senatorial District, From Damisi Ojo,Akure

Representatives’ members, four Ondo State Oil Producing Areas Development

‘ The leadership of the Action Congress of Nigeria (ACN) has displayed political maturity and courage in zoning the governorship and Deputy Governorship... ’

•Akeredolu

particularly Ilaje, have been neglected by the present Labour Party (LP) administration. “It is so unfortunate that the community that lays the golden eggs, which some people are now lavishing, has been left in the doldrums.” OSYA said the Akeredolu/Rawa ticket would solve the problems in the district. He said the people of the area would work for ACN’s victory.

Commission (OSOPADEC) Chairmen and four commissioners of the Niger Delta Development Commission

(NDDC). “Ilaje II has produced only two representatives and a Special Adviser to the

President, which shows the lopsidedness in the socio-political and economic situation between Ilaje I and II.” FFGG said Ilaje II has 165 polling units and 72,255 registered voters compared to Ilaje 1, which it said has 106 polling units and 54,227 registered voters. The group urged ACN leaders to consider the economic values of the two constituencies and zone the deputy governorship ticket to Ilaje 11. It said the people of Ilaje 11 would work for the party’s victory, if their request is considered.

HE governorship candidate of the Peoples Democratic Party (PDP) in Ondo State, Chief Olusola Oke, at the weekend alleged that Governor Olusegun Mimiko has been wasting state funds on some politicians in Abuja to curry favour in the October 20 governorship election. The former PDP National Legal Adviser spoke while inaugurating his campaign team. The team is headed by Dr. Oluwadare Bada, who will be assisted by a former Head of Service, Mr. Alaba Isijola. Oke said Mimiko’s plan to get the PDP to endorse his candidacy in the election has failed. He said: “Instead of using the resources he met on ground to better the lot of the people, Governor Mimiko preferred to embark on a trip to Abuja and spend our funds on some politicians and beg for favour in the coming governorship election. “We are ready to revamp our economy. The state’s resources are enough for any government to improve Ondo in four years. You cannot embark on providing infrastructure in a community where people sleep at night hungry. They will never appreciate such a gesture. “Our people are agitating for a change. They now know the truth. They have been deceived and they will vote out the Labour Party (LP) government in the governorship poll.” Oke said members of his campaign team are credible people, who are ready to work for the party’s victory.

THE NATION MONDAY, AUGUST 6, 2012

THE NATION MONDAY, AUGUST 6 , 2012

NEWS ‘Expect serious flood from August’

Jonathan unable to fight insecurity, says Akume

ORMER Benue State Governor and Senate Minority Leader George Akume at the weekend criticised President Goodluck Jonathan for his inability to tackle insecurity in the North. The senator urged the Federal Government to inject more funds into the agriculture in the North to engage youths, tackle unemployment and solve the problem of terrorism. He said: “Overall, Jonathan is not doing enough because the issue of insecurity worsened by the Boko Haram menace is a big dent on the nation. If you also look at the issue of subsidy removal, he is not doing enough as people expected of him.” The former governor said the Boko Haram insurgency “is not a political matter” but a protest by a few disgruntled elements in the North. He noted that the insurgency “has been exploited by some people who have few grudges”. Akume advised the Federal Government to “inject more funds into agriculture in the North as a Marshall Plan to reduce the menace of Boko Haram, because food runs hand-in-hand with security”. The senator representing Benue North West on the platform of the ACN, said: “By doing that, we will be getting people out of the streets, creating more food for us to eat and export. If you take a cue from the Niger Delta militancy, the Boko Haram issue can be settled with government’s determination. It was started by a disgruntled group and it

•‘I’m not at war with Tinubu’ From Sanni Onogu, Abuja

ran out of control. It is easy to recruit from this group of people who are disenchanted. “Northern governors said they don’t want state police, maybe because of funding. They said police should be with the Federal Government, because he who pays the piper dictates the tune. If it is the wish of the people and decision of my party (ACN) that state police is the answer, why not?” He denied any rift between him and the Action Congress of Nigeria (ACN) National Leader, Asiwaju Bola Tinubu. Akume, who addressed reporters in Abuja, criticised President Goodluck Jonathan for his inability to tackle security challenges in the North. He described the ongoing

violence unleashed by the Boko Haram sect as “a big dent on the nation”. The senator said his relationship with Tinubu is cordial. On the alleged plot to remove him as the Senate Minority Leader, Akume said: “We are intact. I have no problem with Tinubu. He remains a good friend and he is at home with every Nigerian. We have both been governors for eight years and I have no problem with him. Our position has always been united.” According to him, ACN has not taken any decision on the impeachment threats against Dr Jonathan on the alleged dismal implementation of this year’s budget. He said: “All the ACN stands for is the rule of law. I

•Akume

don’t think ACN has taken a position on the impeachment of the President. It is the resolution of the legislature that the entire goal of the budget is achieved. “People were disappointed at the failure of the ACN/ Congress for Progressive Change (CPC) alliance because they wanted a very strong opposition to be relied upon. If the budget is properly implemented, the ordinary man stands to benefit. The solution to the problem is not just instant.”

HE Nigerian Meteorological Agency (NIMET) has urged Nigerians to clear the drains because of imminent rainstorms that may lead to serious flooding between August and October. A statement at the weekend in Abuja by Mr Eleazar Obende of the agency’s Public Relations Unit, said: “In keeping with the mandate to monitor the 2012 Seasonal Rainfall Prediction (SRP) and give updates as and when necessary, NIMET has observed wetter-than-normal soil surface moisture and groundwater conditions in some parts of the country over the past 12 months. “The northern sector of the country will experience peak rainfall during August to October season, the effect of the wetter-than-normal conditions observed is the prospect of the occurrence of abovenormal rainfall, which may lead to surface run-off.

“The flooding incidents that may accompany further one-day high rainfall events in and around Lagos, Ogun, Delta, Cross River, Akwa Ibom, Bauchi, Gombe, Kano, Katsina and Jigawa states will leave in its trail devastation and destruction.” The agency noted that similar incidents were recorded in some parts of the country some months ago. NIMET in its SRP, released in February, informed Nigerians that there would be a normal rainfall season across the country. The SRP, however, noted that “although there will be normal rainfall season in many parts of the country for 2012, normal rainfall trend in any area can cause flooding and associated consequences”. It added: “Such consequences are mainly because of the people’s attitude of dumping refuse in water channels and the drains.”

48 firms to invest N170.5b in Lekki Free Trade Zone

HE Lekki Free Trade Zone (LFTZ) in Lagos State has attracted $1.1 billion (about N170.5 billion) from 48 investors, the Minister of Trade and Investment, Olusegun Aganga, has said. A statement yesterday said the minister spoke at the weekend in Lagos at the LFTZ Investment Forum and opening ceremony of the Eko Expo 2012, when he was briefed by the Managing Director of the zone, Mr. Chen Xiaoxing. Aganga noted that the LFTZ has all the features to make it one of the most successful free trade zones in Africa. Major investors in the zone

include Puma Energy Free Zone Enterprise, which is investing in oil and gas terminal depot construction. The company has begun the construction of its facilities and is investing $400 million. Others are Imad Oil and Gas FZE, which is investing $200 million; China Railway Construction Corporation ($50 million); and YFK Pharmaceutical FZE ($30 million), among others. Aganga said: “The Lekki Free Trade Zone is indeed the biggest of the 19 free trade zones Chinese investors have outside China. It has all the features to make it one of the most successful free trade

zones in Africa. I have been informed by the Managing Director of the zone that about 48 investors have committed to investing close to $1.1 billion in the zone. “I, therefore, salute the commitment of the major stakeholders in the LFTZ venture, the Lekki Worldwide Investment Limited, the China African Lekki Investment Limited, the Nigeria Export Processing Zones Authority, and indeed, the host community. I also commend the staff and management of LFTZ for

their hard work and dedication, which has helped to shape this ongoing success story.” Lagos State Governor Babatunde Fashola hailed Aganga for his commitment to the accelerated completion of the LFTZ. He said: “What we are seeing here today is the first tentative test for the implementation of the plan for the Lekki Free Trade Zone. The project will outlive many of us and will be a good legacy that our children will be proud of and thankful to those who visual-

ised it. “The partnership we have with the Federal Government and the enthusiasm the Minister of Trade and Investment has shown towards the project is a very strong signal of our commitment to taking advantage of the investment opportunities in the state now.” He said there is need for a direct gas pipeline into the zone to generate power, adding that this is a major requirement for the sustainability of the zone.

NNPC, agencies to battle oil theft

HE Nigerian National Petroleum Corporation (NNPC) has said it would collaborate with other Federal Government agencies to end crude oil theft in the nation’s maritime industry. Its Group Managing Director, Andrew Yakubu, spoke when the Inter-Agency Maritime Operation Committee visited him at the NNPC Towers, Abuja. In a statement by its Acting Group General Manager, Group Public Affairs Division, Mr. Fidel Pepple, the Group Managing Director said NNPC and other government agencies would bring to book unscrupulous individuals that have deprived the nation’s economy

From John Ofikhenua, Abuja

its gains through illegal maritime business. Yakubu said: “The maritime industry significantly impacts on our industry and we really do appreciate the efforts of Mr. President to address this, particularly issues that border on crude oil theft. We are ready to support the various initiatives of the Federal Government to stem the embarrassing trend of illegal bunkering in the maritime industry. “We know the impact of bunkering and crude theft on our economy and our environment. These are vices that we must collectively stamp out of our nation. We cannot claim that we are helpless.”

The Chairman of the InterAgency Maritime Operation Committee, Rear Admiral E. O. Ogboh said the committee was established a month ago to fight illegal bunkering. The Senior Special Assistant to the President on Maritime, Mr. Leke Oyewole, said the committee was set up to ensure adequate collaboration among all agencies of government in the nation’s maritime industry to maximise the potentials in the industry. Members of the committee are drawn from the NNPC, the Nigerian Navy, the Nigerian Air Force, the Nigeria Customs service, the police, the State Security Service (SSS) and the Judiciary.

‘MMAI not blacklisted by US agency’

HE Director-General of the Nigerian Civil Aviation Authority (NCAA), Dr. Harold Demuren, yesterday said the Murtala Muhammed International Airport (MMIA), Ikeja, Lagos, has not been blacklisted by the United States’ Transportation Safety Administration (TSA). He said reports contrary to this amount to malicious falsehood. A travel alert was allegedly posted on flyers at major airports in the United States, warning passengers not to travel to the MMIA. The message reads: “Pas-

By Kelvin Osa-Okunbor

sengers are advised that the secretary of transportation has determined that the following airports do not maintain and administer effective aviation safety security measures.” Demuren said TSA said it has no idea where the report originated from. The TSA confirmed that the last security assessment found MMIA) to be in compliance with International Civil Aviation Organisation (ICAO) security requirements. It also said a similar scam was posted in Venezuela two

months ago, reflecting the blacklisting of its airport. The purported posting on Murtala Mohammed International Airport is believed to be a replica of a belated one in 1992-2000 by the Department of Transportation, USA. Demuren said: “We wish to inform the public to disregard the posting. Nigeria has since become a CAT ONE nation and TSA Security Certification-compliant, in line with International Civil Aviation Organisation (ICAO) and Nigerian regulatory requirements.”

THE NATION MONDAY, AUGUST 6, 2012

EKITI STATE SCHOLARSHIP BOARD NEW SECRETARIAT ADO-EKITI, EKITI STATE UNDERGRADUATE, POSTGRADUATE AND PHYSICALLY CHALLENGED SCHOLARSHIP AND BURSARY AWARDS FOR YEAR 2012 ACADEMIC SESSION. EXTENSION OF SUBMISSION OF APPLICATION FORMS The Hounourable State Commissioner Ministry of Education, Science and Technology Ekiti State wish to inform all eligible applicants that the closing date for submission of application forms for year 2012 Bursary and Scholarship Awards for Ekiti State indigenes in the Federal and State Tertiary Institutions has been extended to 31st of August, 2012. The decision was taken to allow more interested students benefit from the Award. Free Application forms for NCE, Undergraduate, Masters Degree, PhD, Physically Challenged, Aviation Students and Students Studying Foreign Languages i.e. one year abroad are available to prospective applicants on the Boards WEBSITE:www.ekitistate.gov.ng/media-centre/ download for the application forms and click to Scholarship/Bursary and send to E-mail: scholarship board@ekitistate.gov.ng ELIGIBILITY A. BURSARY AWARD • All Ekiti State indigene in Tertiary Institutions from 1st year and above in their courses of study are eligible (Postgraduates not inclusive). B. SCHOLARSHIP AWARD • Applicants must be in 2nd year and above in their courses of study to be qualified for NCE and Undergraduate Scholarship Awards and must possess WAEC/NECO with a minimum of 5 Credits including English Language and Mathematics at a sitting and a minimum CGPA of 4.00 equivalents to a second class Upper Division in their current Tertiary Institutions. For NCE, a minimum CGPA of 3.00 and for HND, 3.50 is required. • Applicants for Master’s Degree and PhD Scholarship awards must possess a minimum Grade of Second Class Upper Division at first degree. A strong letter of recommendation from the University of Masters’ Degree programme is an additional prerequisite for the PhD Scholarship. • Physically Challenged Students in Tertiary Institutions NCE, ND, HND and Undergraduates and Postgraduates) are qualified for the Physically Challenged Scholarship. • Students on part time studies are not qualified for the Scholarship Scheme. LATE APPLICATION FORM(S) WILL NOT BE ACCEPTED BY THE BOARD.

SIGNED

S. G. OJO For Administrate Secretary

THE NATION MONDAY, AUGUST 6, 2012

COMMENTARY EDITORIAL FROM OTHER LAND

COMMENT

The lessons of failure in Syria

Unfortunate distraction •The issue about budget implementation is its impact and not how much has been spent

F the current tango between the executive and the National Assembly over the implementation of Budget 2012 is any revealing – it is the extent to which shadows could easily displace substance in public discourse. In a nation where the tradition of bookkeeping is now something of a lost art, the conflicting figures being churned out on the status of budget implementation by the different arms of government, would – if not entirely inevitable – be at least understandable. Just how much of the 2012 budget has been implemented? At the moment, it remains a matter of whose statistics to believe. The House of Representatives which first kicked the dust had scored the budget implementation 34 percent. The executive branch continues to insist on its implementation figure of 56 percent. The Senate seems even far less impressed than the House when it reasoned that the implementation would actually be closer to the 20 percent mark. While we doubt that the figures would be reconciled anytime soon, it seems even more unlikely that the ordinary citizens, for whom the budget instrument was designed, will ever be able to make any sense of what is now the futile chasing after the wind by the gladiators. What are the issues, if we may ask? First is the question of whether the budget, even with modest implementation as claimed by the government, has delivered the value for every naira spent. The other is the discipline to implement a budget on which the development of the nation has come to hang.

Whether the amount spent is N324.5 billion or more correctly N184.84 billion, the main issues at the heart of the row stand in grave risk of being missed as the two sides treat the nation to the needless figure-juggling. The issue of course is that the appropriation law isn’t some fancy document or some meaningless statements about government revenue/ expenditure even if successive administrations since 1999 make it look so. It is a law duly passed in parliament which makes it incumbent on the executive to implement. Moreover, it is the most important tool available to the government to deliver on its programmes. This is what makes the hair-splitting over the arithmetic of implementation an unfortunate distraction. What the ordinary Nigerian wants answers to is how the budget has impacted on his life. We have dwelt for far too long on the paradox of growth without jobs, the phenomenon of economic growth that has failed to deliver on the promise of lifting Nigerians out of poverty and misery. On the other hand, we consider it the height of conceit for the finance minister, Ngozi Okonjo-Iweala, to score the Federal Government 56 percent in budget performance without putting things in the context of the goals set out in the budget. We expected her, for instance, to tell Nigerians the number of projects that have benefitted from the budgetary releases to date, where these projects are sited as well as their stages of completion. What impacts have the capital releases made on the creation of new jobs– directly or indirectly? How many new

roads have been opened up or how many of the countless dilapidated roads have been fixed, and their distribution? We expected the minister to address those issues in addition to offering the benefit of her insight into the multiplier that the so-called capital releases have generated in the economy. The answers to the aforementioned would certainly have provided a better measure of value than the dubious claims of budget performance. Unfortunately, Nigerians are hard pressed to point at the value delivered for the billions said to have been spent in the 2012 budget. Clearly, if citizens are to cast the lot on which party is more believable, it seems likely that the National Assembly will carry the day.

‘Whether the amount spent is N324.5 billion or more correctly N184.84 billion, the main issues at the heart of the row stand in grave risk of being missed as the two sides treat the nation to the needless figure-juggling ... What the ordinary Nigerian wants answers to is how the budget has impacted on his life’

Shoddy handling •We smell a rat in EFCC’s withdrawal of charges against subsidy suspects

HE Economic and Financial Crimes Commission (EFCC) has, in a rather curious twist, withdrawn criminal charges of conspiracy and fraud relating to petroleum subsidy against Durosola Omogbenigun, Peter Mba, Pinnacle Oil and Gas and Integrated Resources Limited. They were accused of collecting N2billion subsidy payments t from the Petroleum Support Fund after they claimed to have imported about 32 million litres of fuel from such places as Gibraltar and Geneva. According to the commission, the charge was misconstrued and filed by mistake. The mistake was allegedly discovered during a post-arraignment review by the EFCC. The charges against the four have since been struck out by Justice Samuel Candide-Johnson, the presiding judge at the Lagos High Court in Igbosere, following an application by the commission. Curiously, the commission’s counsel,

‘Furthermore, apart from these small fries being displayed as suspected subsidy thieves, we ask; where are the big and powerful men behind the scam? We smell mischief and probably corruption in the prosecution process of this matter. And, as long as this circus continues, Nigerians should resist any attempt by this or future administrations to come and talk about subsidy again’

Oyedepo Rotimi, said in the court that Mohammed Adoke (SAN), the AttorneyGeneral of the Federation and Minister of Justice, instructed him to withdraw the case. In his words, as reported: “We have an information (charge) dated July 20 before this court. I have the instruction of the Attorney-General to withdraw this information… I urge the court to strike out the charge.” In tandem with Section 73 of the Administration of Criminal Justice Law of Lagos State 2007, we agree that the commission can seek the order of the court to grant it leave to withdraw the criminal charge against the defendants in the matter. This it actually did, but with negative consequences on its integrity and image in the court of public opinion. We recollect that the whole subsidy brouhaha commenced when civil society groups and labour unions rose against government’s move to completely remove what it dubiously called subsidy on petroleum products in the first month of this year. The House of Representatives ad hoc committee’s probe report on management of fuel subsidy funds clearly exposed what is called fuel subsidy to be a ruse meant to replenish the pockets of a few powerful fuel marketers. Consequent upon this, the government was compelled to direct the EFCC to investigate and then take necessary legal action. This entire arraignment was not on government’s volition. From its body language, if it had its way, the report would die naturally. Ab initio, the arraignment by the EFCC was bedevilled by crisis of confidence in the public arena.

The trial was not tidy and its sloppiness manifested when on the first day in court, Adoke, who had earlier promised to personally lead the prosecution, was absent. So, withdrawing the charges against these four on the next court hearing date, on the order of Adoke, merely showed the lack of seriousness of government in doing justice about the fraud called fuel subsidy. Otherwise, what sense was in EFCC arraigning people before realising that it had no evidence to sustain the charge? The EFCC is not doing its image any good with shoddy handling of this kind of serious issue of fraud that is of great national significance to Nigerians. Indeed, Nigerians should be wondering why they should be forced to pay for the graft of a cabal and inefficiency and criminal conspiracy of government in the disbursement of the so-called ‘subsidy’ funds. After disgracing those that the EFCC has suddenly discovered not to have committed the offence for which they were charged, we wonder whether the stigma arising therefrom can be erased easily. Furthermore, apart from these small fries being displayed as suspected subsidy thieves, we ask; where are the big and powerful men behind the scam? We smell mischief and probably corruption in the prosecution process of this matter. And, as long as this circus continues, Nigerians should resist any attempt by this or future administrations to come and talk about subsidy again.

OFI ANNAN TURNED in his resignation as United Nations special envoy to Syria on Thursday, but his mission was over months ago. It was doomed by Syrian President Bashar al-Assad, who was never serious about peace and determined to crush the opposition, and by his chief backer, Russian President Vladimir Putin. The five months that Mr. Annan devoted to talk, with the illconsidered backing of the Obama administration, simply gave Mr. Assad more time to wage war. The failed mission offers vital lessons for the future. The first is one that Mr. Annan should know well: He learned it in the 1990s conflict in the former Yugoslavia. Then as now, the leading powers were initially hesitant to use military force. Then as now, U.N. personnel were sent to a battlefield and proved ineffective in the face of evil. After the worst massacre in postwar European history, by Bosnian Serbs at Srebrenica, Mr. Annan wrote a searing retrospective for the United Nations. He declared that “when peacekeeping operations are used as a substitute for. . . political consensus they are likely to fail.” He added, “The job simply cannot be done.” These words are just as valid today as when Mr. Annan wrote them in 1999. The U.N. Security Council sent unarmed monitors into an intensifying war zone in Syria without a consensus of the leading powers to back them up. It was wishful thinking to believe that Mr. Assad would be coaxed into retirement by a divided council. For way too long, the Obama administration — eager to avoid more decisive action — clung to unrealistic hopes that Annan’s plan would work. The administration also seems to have misjudged how steadfastly Mr. Putin would stand behind the Syrian regime. There were vague hopes that, sooner or later, the Kremlin would give up on Mr. Assad. But Mr. Putin refused to budge. For years, he has been disdainful and fearful of the “color” revolutions — Orange in Ukraine, Rose in Georgia — that swept autocrats from power. In recent months, he has heard the footsteps of protest outside his own Kremlin walls. He was not about to applaud the drumbeat of another revolution seeking to topple a dictator in Syria. It’s not comforting to see Mr. Putin express an outmoded, Cold War mind-set that sees Russia’s interest in opposing the United States at every step — but it is something that should not have surprised the White House. Many in Washington misread Mr. Assad. In some early accounts, he was portrayed as a moderate or modernizing figure, a more enlightened version of his brutal father, Hafez al-Assad, who ruled Syria for three decades. But the events of the past 18 months suggest that the younger Mr. Assad has matched his father’s record of despotism: He is willing to slaughter an unlimited number of his own people in order to cling to power. Now that diplomacy has utterly failed to stop him, it is time for the Obama administration to consider measures that stand a real chance of accelerating his downfall — beginning with greater material support for the opposition. – Washington Post

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THE NATION MONDAY, AUGUST 6, 2012

CARTOON & LETTERS

IR: Nigeria is stuck in a quagmire, and getting out will require out-of-the-ordinary wits. Providence, in its wisdom, brought all of us together to this corner of the world. It would be myopic to call for the dissolution of the Nigerian state as a panacea to our socio-economic or religious problems. Nigerians easily blame the British for bringing together the “incompatible” units that make up modern Nigeria. Anytime the nation has a headache or sneezes, we blame the British. Whilst we gloat at the prospect of dissolution borne out of the present situation, we seldom appreciate the positive sides of the union in the past, in the present and a sure positivity in the future. The problems of Nigeria are conveniently and misleadingly diagnosed to serve a selfish purpose. The apparent friction in the horizontal societal plane (tribal, nepotistic or religion) if not minimum, is a mirage that is always exaggerated - this is with regrets and deepest respect to those that have lost their lives in the madness of Boko Haram. Radicalism is never desirable. The real friction is in the vertical societal ladder (poverty, inequality and injustice) - this hardly gets any mention. There is no Nigerian that belongs to a socio-economic stratum that will honestly say he has a problem with another Nigerian in the same socio-economic level because of tribe, section or religion; the friction is usually diagonal; a vector of the vertical economic class, which politicians conveniently paint as tribal, sectional or religious to advance self-agenda. The bombings of churches are not excusable for whatever reason; the Church, however, would need to stand firm in these trying times and continue to expose the hypocrisy of Nigerian leaders concerning the gap of inequality in the Nigerian society. Social inequality is very high in the core north - a social arrangement that dates back to over 500 years. Majority of Nigerians had expected western education to propel them out of their undesirable station-in-life; instead, they see, daily, the flaunting of illegal wealth by their neighbour. You could argue that this is nationwide, but the difference in the South is that the moment one’s station-in-

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Getting the nation out of her quagmire life changes, one often relocates to other areas where one’s economic peers reside. One could go and socialise with one’s childhood friends once in a while. Mitigating the dire situation is possible by bridging the gap of inequality. Unlike socialism where inequality is addressed by collective bargaining and government ownership of business, capitalism redresses inequality through robust tax system and open judiciary. Whereas socialism gives all the people uniform to wear, as it was in China; capitalism allows

competition and choice of what to do with resources - then taxes individuals for common good. Robust tax program and unbiased judiciary are important tools in a capitalist system. The country needs, more than anything, a tax reform for prosperity, security and the fight against corruption. We cannot embrace capitalism without a tax reform that guarantees that everybody pays tax and the rich paying their fair share. I am, therefore, calling on all Nigerians to join in the push for a tax reform in Nigeria.

Nigeria needs a tax bill that criminalises tax evasion in our fight against corruption. In the U.S. tax evasion is currently being used as a tool to curb the excesses of the underworld, particularly the mafia. It should not matter if the wealth is stolen or earned legally; the shortchanging of the Nigeria’s public treasuries should be seen as the most heinous crime against the state, since it contributes to the destruction of our survival as a nation. •Samuel Akinyele Caulcrick, Little Rock, Arkansas, U.S.A.

Re: “Will division save Nigeria”

IR: I wish to contribute to the above subject matter evolved by one Pius Oyeniran Abioje

of Unilorin. Honestly speaking, he Abioje has done a good job in his analysis against division of Nigeria with respect to safety. I personally viewed his opinion as something that is coming at a wrong time when considering the years of Nigeria Amalgamation without anything to show for it. Today, Nigeria is on the path of serious retrogression; the little the nation had been able to garner, during the time of the Awolowo’s, Sadauna’s, Azikwe’s etc. has vanished. Not only that, our hope as a nation to attain the status of a developed nation is becoming a mirage because we have no focus and direction any more. The issue of former Soviet Union that fragmented into Yugoslavia, Soviet Union and Czechoslovakia is an interesting scenario to me. What is the essence of something that is bogus but has no value? Are Yugozlavia Czech and Soviet Union not at peace today? God has good intention for Nigeria and that was why the Amalgamation was possible. But is we, the operator of the Amalgamation that decided to bas-

tardize and make mess of it because of our avarice, excesses, selfcenterdness, coveteousness to mention but view. Why are we shying away from breaking up if that is going to be the panacea to our problem as a nation? If there is a subtle way of breaking up, so be it! After all from my primary knowledge of O’Level economics, the fragments of Nigeria can still benefit from each other under the banner of international trade. I agree that it is good to look and copy countries like China, India and USA that are managing their heterogeneity successfully. How could that be possible when our leaders are not seeing things correctly? What about the intransigent and recalcitrant nature of the ruled? Orderliness is good, but over time it can become invalid and unreliable because of civilization and development. Where an old order is becoming naïve, marginalizing and subjective, there is a need to review it for the sake of peace and stability. The world is dynamic. The order of 19th century may not fix in well in the 20th century. This explains why the Lord made us human beings that

can adroitly feel and respond to our environments and make a change for life continuity. America is sustained by order because they value it. Does Nigeria attach any value to orderliness? If so, why should you and I always want to jump the queue in banks? Why are people so much in hurry today in making it in life? Why should an individual embezzle billions of naira meant for other peoples welfare? These are some of incidences that have perverted the perception of the value of orderliness he talked about. In the U.S. China and other developed countries of the world, hardly could you steal public money or property and go scot-free. But in Nigeria, the immunity and collective plea bargain syndromes have given everybody a blank cheque and freedom to steal in the order of millions and billions of naira without qualm. The call for sovereign conference will create a forum for discussion of all these malaises in our societies and pave ways for their solutions for better Nigeria. • Engr. J. Adebayo Ipadeola, Department of Psychology, University of Ibadan.

That planned demolition in FCT

IR:Community Action for Popular Participation (CAPP) hereby joins other Nigerians to condemn the planned demolition of houses in 19 satellite towns of the Federal Capital Territory (FCT). The Federal Capital Development Agency (FCDA) in an attempt to rid the FCT of illegal structures is hereby urged to reconsider their stand by going about this with a human face. The rural-urban migration for greener pastures is a major factor responsible for the springing up of shanties and illegal structures in the FCT and other parts of Nigeria. This problem can also be attributed to the lack of planning, ineffective development control measures, high cost of land and cumbersome land allocation and building approvals processes. Development is a necessity in every human society but the people should not be sacrificed on the grounds of developing the country especially when the action is geared towards improving the standard of living of the people. Even though residents have taken laws into their hands by erecting structures without adhering to land acquisition and building approvals, government should consider the effect of the demolition on the citizenry which includes increased poverty, crime rates and health challenges. The government should take the welfare of the people into cognizance by giving them adequate notice before hand and providing alternative shelter for them. Development should be for the people and not the other way round. The only way these problems can be addressed is for Government to provide low cost houses and develop the other area councils instead of the high cost estates that are seen in the capital city with nobody occupying them. We hereby advise government to address high rent in the FCT as well as provide alternatives for residents whose properties have been earmarked for demolition. • Kyauta Giwa CAPP, Abuja

THE NATION MONDAY, AUGUST 6, 2012

COMMENTS

Sports as end result of our stressed nation

EADERS’ comments on articles online could be exciting and at the same time hilarious. While some are off course in abuse and thoughtlessness, there are correspondingly sensible and witty reactions. At the peak of on-going London Olympic Games, many have shown distress and displeasure on the performance of the Team Nigeria. To lighten up, I would have to move to various local media websites to gauge the people’s feelings. It goes beyond argument that the present state of the nation is deplorable; every sector is in a mess. There is low morale all around. With the prevailing nerve-racking situation across the land, hardly should anyone have expected much accomplishment from Nigeria’s representatives at the Olympic Games where the best of the world are gathered to compete. Afterall, as a bed is laid, so shall it be slept upon. The nation is reaping what it has been sowing. It does not matter whether or not I agree with the expressed views, but let’s first recount some of the remarks posted on some sites: “Nigeria will not win any medal in this Olympic Games because we fail to send delegates for corruption and bombing.” Another: “Hatred, ethnicity, religious sentiments, regional sentiments! These are where Nigerians will win medals.” Funny! But do they not make some sense? Now, the more perceptive and astute remarks: “The Olympics is going on and we are expectant that our athletes will win medals? Ha! Other nations had four years of deliberate preparations but we had four weeks at most of anyhow practices and preparations. And we think we can deliver? A resounding ‘no.’ “Nigeria still believes in participating and not in winning. Our strength in sprints is fading away because no administrator is grooming young athletes to replace the old stars.” “Success in Olympics is not for the nation without adequate planning. Nations in Eastern bloc are coming up strong. Mediocre performance cannot win a medal in modern Olympics.” “We have people living on top of water in Lagos and Rivers, yet we cannot produce a swimmer! We have guys that can lift five bags of garri in one go but we do not have weightlifters. We have people who can ride a bicycle from Abakiliki to Jos without stopping but Nigeria does not have cyclists at the Olympics. Everything de-

HERE is a universal consensus on the central role of electricity in economic growth such as production and productivity, human development such as life expectancy, knowledge and decent standard of living. Electricity makes it possible to achieve the full potentials of any society and makes life worthwhile in a modern society. Unfortunately, but true, Nigeria does not only have a problem with electricity but the problem appears to have no solution. This is despite the fact of our national endowment such as gas. How did we get here? Is there nothing that can be done to tackle this national embarrassment? The big question then is: how do we provide regular, safe and reliable electricity for 160 million Nigerians? What policy and regulatory changes do we need to embark on to fast track electricity generation, transmission and distribution? A few weeks ago, I stumbled on the history of electricity development in Nigeria and how the first power plant was built in 1898 in Lagos. I also read about how the British colonial administration passed the Electricity Corporation of Nigeria, ECN Ordinance No.15 of 1950 which sought to integrate electricity supply to make it more efficient. All these eventually led to the merger of ECN and Niger Dam Authority, NDA in 1972 to become National Electric Power Authority, NEPA. For many years, and curiously under the military administration of the 1970s, NEPA tried to keep faith as the haulier of Nigeria’s socio-economic agenda. And relatively too, the power company acquitted itself with this relatively new role by steering Nigeria into a greater industrial society. NEPA also positively affected the quality of life of the average Nigerian family with the good life and opportunities offered by power. But the glorious era of the 1970s appears to be the end of the good old story. Then enter the 1980s era. A combination of factors turned NEPA into a leprous national service provider. First, demand for electricity outstripped supply due to lack of investment in the sector. Secondly, mismanagement of gargantuan dimension set in and finally politicization of strategic power issues including insensitivity about clear signals to transit to private sector driven business model. While I ruminated over the interesting story of this power behemoth, I was also agitated at the seeming success it recorded both during the colonial and immediate post colonial Nigeria. I later found out that at the centre of PHCN’S success story in those days were careful planning, patriotism of its personnel, hard work and discipline. Today, NEPA has an offspring but her story is radically different. In the eyes of most Nigerians, Power Holding Company of Nigeria, PHCN is inefficient, corrupt, indolent, irresponsible and unpatriotic. However, the unfortunate side to Nigeria’s recurring electricity problem is the obvious lack of any immediate solution in the horizon. The story has remained the same since the Obasanjo era that came with a lot of expectations and promises particularly with the appointment of the late Chief Bola Ige as Minister of Power, the heavy investments made even at the detriment of disobeying the laws of the country through the late Umar Musa Yar’Adua era to the present. But the big question is: why has this electricity problem persisted? Many people have attributed this intractable electricity crisis to so many things, including resources and the lack of politi-

pends on who you know, and how much useless English you can speak.” “The day Nigeria gets ruled by competent and patriotic leaders, we would never have to worry about the religion or ethnicity of the leaders. We will then start seeing Olympics gold medal winners coming from Nigeria.” “What is wrong with Nigeria is the face of Nigeria. We celebrate mediocrity and sacrificed merit for morons in the name of Federal character.” “Our leaders should stop dividing us. They should remove such things as federal character commission, quota system, sate of origin, catchment area etc and let us just be Nigerians. Let the best always have it, no matter where he/she is from.” Many more! Fundamental revelations came up recently at the unveiling of 13year-old Makanjuola Habib, an Under-14 player freshly signed with Chelsea FC of England Academy. Habib, one of the two Nigerian wiz-kids in the academy, was signed in because of poor football development structures in the country. Nigeria has been losing its athletes, especially footballers, to other countries due to poor training facilities and lack of sports structure. Several of the nation’s good athletes have preferred to represent other countries because the government now pays more attention to politics (not good governance) instead of giving attention to infrastructural development and harnessing of the abundant talents and human resources meant for the growth of the nation. In our days in secondary school in the 60s and 70s, there were virile competitions like Grier/Powell athletics and Thermogen (later Principals) football cup where great potentials were emerging. Football stars like Thompson Usiyen, Stephen Keshi and Henry Nwosu entered the national senior team while still in secondary school. Today, the nation barely picks sports representatives from home but goes for those who live abroad and whose backgrounds are not known. Virtually every aspects of the nation’s sports are as down as other socio-economic sectors where nothing but corruption is working. See our stadia? They are in appalling situation. Sometimes ago I was at the National Stadium in Surulere, Lagos. The once-acclaimed football pitch and Olympic-standard swimming pool have become stinking sites. Aside Esuene Stadium in Calabar, the conditions of the ill-maintained Abuja National Stadium and others are no less discouraging such that English Premiership Arsenal FC had to shelve its once-advertised playing tour to Nigeria primarily because of poor facilities. Was Nigeria really ready for the ongoing Olympics? As an observer put it, it is just like somebody sitting for a degree examination when he has not passed primary school examination. This is also to say that we are aspiring to reap rice where cassava was planted. If the London Olympics is successful, it must be because of

the good preparation ahead of the global gathering. Other nations had been planning for years for the tournament with their governments making sacrifices. But our own government prefers to push the needful sacrifices on the people while those in authority are not ready to account for the benefits of the massive annual budgets allocated to sports in their ministries and departments. Once upon a time, Nigeria’s potentials were globally recognized epecially in boxing, sprints, soccer, swimming and table tennis. Football clubs like Stationery Stores, Abiola Babes, Iwuanyanwu FC and Leventis FC once made the nation’s soccer excitingly competitive that stadia are filled up every weekend. Our FA Cup finals in the days of Rangers International, IICC, Bendel Insurance, Mighty Jets etc were as motivating and hot as English version. But where are we today? We are struggling to get just anything from anywhere, in spite of the nation’s divinely endowed diversified great talents. Our youths are now more interested and devoted to English Premiership, Spanish La Liga, Italian Serie A and German Bundesliga than our own league which keeps diminishing year after year. That Nigeria could not qualify for Olympics soccer where it once reigned should be of grave worry to the nation’s leadership. Even in Africa, it has now become a big burden to encounter hitherto unrecognized sporting countries. Small nations now confront the supposed giant of Africa with confidence, just because there is nothing special to offer. Nigeria has turned ordinary in virtually all aspects. We want to shine, yet we remain dumped in darkness. But if in reality good success is genuinely desired, the way of wisdom to go is to be well focused, be committed, and start preparing for the next Olympics right from now by bringing life back to sports in the nation. Countries like China, Jamaica and Cuba are shining in sports because of their focus in areas of their strength. In the US, the sports infrastructures are mainly grassroot developments enhanced by leadership and patriotic citizens working together from bottom up. One of the glories of America is the leadership, not just in the economy but also in sports. See how the US basketball team used our nation to break world record last week? Let the various categories of government mobilize our youths just like The Redeemed Christian Church of God Pastor E.A. Adeboye mobilized Habib with an oversea scholarship that has made him become a potential star being sought after by leading European clubs. It is in the hands of leadership to do whatever needs to be done to encourage Nigerian youths, wherever they may be, to be passionate to represent their fatherland and not the already blossoming country where they live. We are blessed with exceptional talents that can stand for us and bring gold medals to the glory of Nigeria. Not harnessing the gift of God will become a deficit that will not truly transform and move the nation forward.

Electricity: Tackling a perennial national shame Hon. Dakuku Peterside cal will to act. But I also have my reservations as a concerned Nigerian. Money to my mind is not a major obstacle towards building an effective power sector. Nigeria is among eight top members of the Organization of Petroleum Exporting Countries, OPEC in revenue earning. Nigeria is also believed to have natural gas reserve of 184 trillion cubic feet which is the largest in Africa and the seventh largest in the world. This gas resource is a critical national endowment to propel and ensure self sufficiency in electricity generation. However, one truth that needs to be stressed is the abysmally low electricity generating capacity of Nigeria when compared with other countries. Egypt, Belgium, Iran, South-Africa, South Korea and Malaysia are all countries with far smaller population but with very intimidating power generating capacity that exposes our embarrassing shortfall in electricity generation. There is even a joke, though an expensive one which claims that Nigeria’s 160 million population uses as much power as a tiny area around Narita Airport in Tokyo. But the fact that SouthAfrica’s 49 million population consume 55 times more energy per head than Nigeria is no joke. I appreciate the fact that South Africa has its own share of this electricity challenge too. I think what has happened over the years with our power generation is a manifestation of our collective failure in certain critical sectors of our lives. Like most Nigerians of my generation, I still remember vividly NEPA’s embarrassing nickname: ‘Never Expect Power Always” and NEPA unfortunately lived up to that expectation in those days. Regrettably, the verdict is even harsher today. PHCN is nicknamed: Please Have Candle Nearby, a reality that is inseparable from the rebranded power company. Sadly, there is a widely held view that Nigeria has the world’s biggest concentration of small-scale generators. Again, twothirds of all power generators are located in backyards and balconies of peoples’ houses, and at a whooping cost of $13 billion a year. Among generator dealers also, government is believed to be their biggest and best client in Nigeria. The grim reality however is that Nigeria may be in for a long night except there is an urgent intervention. I had thought that by now, President Goodluck Jonathan’s ambitious road map on power would have effectively exhausted the contending areas of the Power Reform Act. Regrettably, the federal government is not keeping to the timelines and only a few believe the requisite political will is available. Nigerians too have suddenly become cynical particularly with the new tariff in June that came without any significant improvement in power supply Another strand to the problem is the issue of policy and its implications. In the absence of good policies over the years, power infrastructure naturally suffered criminal neglect and abandonment. The good news however is that we are all gradually coming to terms with some truth about the configuration of electricity management in our country and what may become of its future

if urgent steps are not taken. Everybody agrees that the bulk of the national power company’s major problem comes mainly from the fact that for many years, the federal government took charge of generating, transmitting and distributing electricity either directly or indirectly in the entire country and even beyond. Things can no longer continue like this. As far as I am concerned, the only way forward for us is full deregulation. And I am convinced that deregulation will naturally address all the myriad of problems facing the sector. Luckily for the country, some visionary state governors already have impressive power framework waiting for full implementation. They have also done tremendous work in the area of infrastructural development, particularly as it affects power plants. I know that the Niger Delta states, by their location and natural resource advantage have the capacity to generate and distribute power. And the federal government has everything to gain by looking in the direction of these forward-looking states. If for instance the federal government removes the Niger Delta states from the national grid, then they would have found 20 per cent solution to the power problem in Nigeria. In Rivers State, a clear case of a model state, the state government under the leadership of Governor Chibuike Amaechi already has 500 megawatts. As a matter of fact, Rivers State needs only 400 megawatts, so they have 100 megawatts in excess. In addition, the state has invested substantially in upgrading PHCN’s facilities and in many cases building new transmission and generating facilities. Yet, the state cannot distribute because there is a provision in the law that bars it. The implication is that any power generated must be transferred to the national grid and this is denying the people the opportunity of reaping from their investment. This also raises the question of devolution of powers. By owning over 80 per cent of power infrastructure in the country, the federal government is obviously biting more than it could chew. Power, in my considered opinion, is too sensitive and serious to be left entirely to the federal government. And definitely not a federal government that claims not to have the fund to deal with the capital intensive electricity infrastructure. For me, the way to go is to address all the competing issues. Apart from encouraging capable states such as Rivers by entrusting them with the power to distribute, the Power Reform Act must also necessarily run its full course and extensive reforms must be seen in the power sector. We must put an end to rhetoric and grandstanding. As stakeholders, there is need for all of us to join hands and confront this demon that has remained a stumbling block to our growth and development. This, to me is the biggest form of transformation because with regular power supply, Nigeria would have engendered competition, encouraged productivity, strengthened our industrial base and effectively tackled unemployment, crime and other vices. And there could not have been a better time. • Peterside, a Member of House of Representatives is Chairman, House Committee on Petroleum Resources (Downstream).

THE NATION MONDAY, AUGUST 6, 2012

COMMENTS

PART from their positions as retired Generals of the Nigerian Army, Ibrahim Babangida and Olusegun Obasanjo share some other common experiences and traits. Both were seriously involved in the fight to keep Nigeria one during the civil war and at different times presided over the affairs of this country as military rulers. Obasanjo has the added advantage of ruling Nigeria twice as civilian President. Today, they unarguably stand out as the most influential personages in this country with the ambition to control its affairs. That may account for why they came together last week and issued a statement on the state of the nation irrespective of their well known differences. When such key leaders speak therefore, we are wont to take them very seriously. Such was the scenario that was played up by their joint statement which drew copious attention to the increasing slide of this country to the precipice. The central theme of their message is that something urgent must be done to save Nigeria from imminent disintegration. The depth of their frustrations can be gleaned from: “a deeply worrying trend that is emerging from this terrible situation is that a pervasive cynicism is beginning to set in, so much so that millions of true Nigerian patriots are starting to question the platform upon which the unity of this country rests”. They also admitted that a regime of fear and frustrations currently pervade the nation even as the hope to build a peaceful and united nation where all will find accommodation is in-

‘What we are seeing today are in part, a sign of the inability of successive governments to establish the right framework for true federalism. No amount of pontification or grandstanding will make the required impact unless the ground norms for co-habitation are fully set out through responsive and purposeful governance’

Emeka OMEIHE 08121971199 email: EmekaOmeihe@yahoo.com

Babangida/ Obasanjo’s worries creasingly eroding. They have said it all. It is not that this situation is entirely new. Not at all, but more than ever before, the actions of some groups, leaders and institutions of state are increasingly erasing whatever confidence the people have in this unity in diversity. It is not just a matter of insecurity but the outright connivance by the ruling elite to continuously loot our collective patrimony. These negative traits have tended to whittle down whatever hope the ordinary people have in the capacity of the Nigerian state to protect and provide for them. In reality, the Nigerian state has been lacking in satisfying this irreducible minimum. By the conduct of some of our key political groups and personages, we are increasingly being led to the belief that the urge to capture power in this country is propelled by self-serving ends. This disposition reinforces the desperate struggle for power at the centre. In this desperation to cling to power for the benefit of one’s immediate family and primordial group, the driving force for the stability of federations is treated with utter disdain. How can we make progress when sections of the country live under the illusion that this country belongs to them alone and without them no progress can be made? How can we make progress with the surging feelings of disenchantment, hate, alienation, subjugation and marginalization? Is it possible to erect a common bond of unity among the disparate groups with these negative tendencies and the winner takes all syndrome? Our leaders both past and present have not been able to raise national institutions, plat-

T cannot be denied that there is anomie in our land. When a nation, more than 50 years of attaining nationhood still thinks of national dissolution, rather than rebirth; when citizens see more of their differences rather than what unites them; when those who should proudly declare themselves as the future of the nation are already seeing themselves as a wasted generation; when yesterday’s leaders who should sit back in the comfort of their retirement to mentor new leaders still see themselves real players in the polity, then it becomes difficult for us to have a new beginning or the fresh start out of our national malaise. This unfortunate situation has resulted in some discomfiting development rightly manifesting as anomie: a condition of hopelessness, according to the Chambers 20th century dictionary, which is caused by breakdown of rules of conduct, and loss of belief and sense of purpose. The implication of this definition is that we have lost vision and direction in our nation. In a situation like this, drums of war are beaten; hate prevails in the land; there is mutual animosity and transferred aggression; everybody becomes an opportunist trying to cannibalize the carcass that the nation has become; the economy becomes the grazing ground for some deadly mercantilists; nobody cares to plant any seed, infinite as a mustard again; the best saw is found for the mighty oak on the field to strewn into pieces; the Gamji is uprooted not to be transferred or replanted but for its leaves to be plucked to make some tea; the fattest milk cow is butchered and roasted for suya and asun; the goose that lays the golden eggs is slaughtered for some saucy and spicy soup. Everybody comes to the slaughter slab of the nation with some shaka and Bagco superbag to share the last bull that pulls the harvester on the farm. Pity all in the land! Nation builders become funeral undertakers. Infants and toddlers who should be crying for breast milk are turned mourners in the cradle. It is a national tragedy! In this misfortune of the rape of the nation and the economy mercilessly bled by those who should be its saviours and managers, everybody becomes anaemic, jaundiced, dishevelled, depressed, distressed, sick and gasping for breath. On death throes, can there be hope for such? Even if they manage to survive, it is not impossible that they cannot be recovered to their full senses; they suffer from an uncommon amnesia. They lose memory of the finest traditions and values of the past; they lose memory of the best practices and best examples from the immediate past and from other climes; they lose memory of the bright vision of the nation and the great prospects the nation had in the beginning. When there is a collective amnesia in the land, hope is lost and right purposes are defeated. The beauty of nationhood is obliterated while the evils of diversity are magnified. The

forms or bond that should imbue hope on all that they have a stake in the Nigerian project. Given these institutional weaknesses and the looting spree at the centre, people think of themselves first as a member of their ethnic groups before citizens of Nigeria. The reality today is that the primordial groups still compete with the central government for the loyalty of the citizens. And in this competition, the primordial groups are at a very disproportionate advantage. That is why Boko Haram has been able to wrought incalculable harm on this nation. And in this devious war against the people, the elite cannot exculpate themselves. We shall return to this. Most successful federations have deliberate programmes for integrating the distinct groups to share a common sense of belonging and identity. But the situation back home is that of us against them. Those who capture power, instead of building core values to bind the people; instead of deploying the resources of the country for common good, use them to the detriment of others. This not only accentuates bitter competition and conflict but also stultifies any effort at nation building and meaningful development. Surprisingly too, each time genuine suggestions are raised as to the structural reforms to strengthen our federation, the same vested interests come up with sundry subterfuge to sabotage them. Obasanjo and Babangida recommended dialogue with the belligerents groups and what they called “grassroots engagement” as a way out. In this wise, they want all governments starting with the 774 local governments to engage their communities, elders,

youth organizations, trade unions, the clergy and women associations etc. Central to this is the recognition that we must carry the people along for peace to reign in this country. This goes without saying. But it is one thing to recognize this and a different ballgame to suggest that that is all it takes to stem the tide of violence and accelerate economic development. Yes the common people who are often used to perpetrate these crimes are relevant. But most relevant are the leaders both those in authority and outside the corridors of power. The embarrassing insecurity in the country can be largely pinned down to the door steps of the elite directly or indirectly. After all, we have been told by a former National Security Adviser, Andrew Azazi that insecurity scaled up with the last primaries of the PDP. Nobody is in doubt about the purport of Azazi’s statement. Even then, Boko Haram before it was hijacked by the same elite anchored its grouse against the same category of people. Its quarrel with western education stems from the fact that it sees the educated leaders as the real problem of the common people. That was why it vowed to deal with government structures and institutions before that goal was displaced and the nation found itself in the current pass. Not a few Nigerians believe that Boko Haram in its current form is political grievance masquerading under a religious garb. Leadership is more central to the resolution of the security and other debilitating challenges of the nation. It is very instructive that two sons of PDP Chairmen (past and present) are standing trial in the fuel subsidy scam. The identity of others may come up with more startling revelations. Obasanjo and Babangida have serious roles to play. Good enough, they are both leaders in the PDP government that has this challenge to contend with. It is also a measure of the leadership capacity of that party that it is being overwhelmed by these problems. They cannot therefore exculpate themselves from the current mess. Obasanjo is more culpable because he had full eight years to redress some of these structural hiccups but blew the opportunity pursuing a self-serving third term agenda. What we are seeing today are in part, a sign of the inability of successive governments to establish the right framework for true federalism. No amount of pontification or grandstanding will make the required impact unless the ground norms for co-habitation are fully set out through responsive and purposeful governance.

Ramadan: Amnesty for our enemies By Abdulwarees Solanke recipe for national collapse are collated and highlighted for everybody to cook the nation’s downfall. In this anaemic state and collective amnesia, more enemies of the state are sired to set the stage for war of national dissolution. But this resort is really not profitable for any nation. At a time China, a colossus, still romanticizes on the Chineseness of Taiwan, Hong Kong and even Singapore, a time South Korea dreams of the Korean reunification and when the history of Germany still plays out as a worthy example of unification, it is surely mad to advance the cause of Nigerian disintegration. Today, Europe celebrates its union, while the United States, a richly diverse continental shelf is proud of its oneness, yet vastness. Indonesia offers a very good case study of nationhood and diversity. An archipelago comprising more than 300 islands with diversity of languages and culture colonized by the Dutch, Indonesia had found its national bearing ever before its independence with the resolution at a youth conference, declaring Indonesia as one indivisible and indissoluble nation with one national language, Bahasa Indonesia, and not the language of the Dutch which colonized them. The problem with Nigeria is not peculiar. What is peculiar to us is the lack of faith in ourselves. What is peculiar to us is our arrogance to one another. What is peculiar to us are our complexes, unfounded phobia and misdirected hatred towards ourselves. Nations are not built or reconstructed on phobia and complexes, but on shared values, despite diversity, and common purpose despite differences. It is the enemies of the nation who latch on differences and diversity of tribes, ethnicity, language and religion to play up centrifugal tendencies in the country. They sing the songs of war and speak the language of separation; they remind the citizens of the past odious wars of attrition. They are the funders and financiers of destruction of national assets, human and material causing distraction from the pursuit of national development. Somehow, they may have some justifications from what they have suffered. But these are not sufficient to compromise the essence of unity and brotherhood of humanity. Nationhood is one of the paths to achieving the unity of mankind. As a student of the Quran, this is why I am always enthralled by a particular verse which suggests that the essence of the diversity of mankind is not for unnecessary competition and despise, but just identity. The best of you is he who fears God

most, that verse concludes. This verse is amplified by a prophetic saying that the Arabs have no superiority over the non-Arabs, nor do the rich over the poor. There is an illustration of this reality in the position of Bilal, an African of Abyssinian being the preferred muadhin in the time of the Prophet. When an Arab denigrated him because of skin and the incident got to the attention of the Prophet, the Prophet excoriated the Arab, Abu Dharr al-Ghifari for still possessing traces of jahilliyyah, ignorance, in him. Celebration of tribalism and arrogation of ethnic superiority are all indications of ignorance. Liberated and enlightened beings discount such ignorant attitude towards one another. We are all the same. It is the enemies of the nation who call to and support disintegration. But they can be forgiven because they are acting on ignorance and not of enlightenment. So, in this Ramadan, we should think of amnesty for all the enemies of Nigeria who by errors of omission or commission, have being responsible for the anomie in our land, anaemia of our economy and consequently our collective amnesia responsible for the cry of marginalization and campaign of national dissolution. Perhaps when they see the beauty in our diversity, they will lead the call for our continuity and stability. There is grace and power in the unity of our nation, Nigeria. There is beauty in our diversity. • AbdulWarees Solanke, Head, Voice of Nigeria Training Centre, Ikorodu, Lagos

‘Everybody comes to the slaughter slab of the nation with some shaka and Bagco superbag to share the last bull that pulls the harvester on the farm. Pity all in the land! Nation builders become funeral undertakers. Infants and toddlers who should be crying for breast milk are turned mourners in the cradle. It is a national tragedy!’

THE NATION MONDAY, AUGUST 6, 2012

BUSINESS THE NATION

E-mail:- bussiness@thenationonlineng.net

ISSUES ‘Increase funds to N500b’ THE Lagos Chamber of Commerce and Industry (LCCI) has called on the Federal Government to increase the intervention fund for re-financing manufacturing sector to N500 billion. - Page 26

CBN issues KYC to non-financial firms THE Central Bank of Nigeria (CBN) has issued additional Know Your Customer (KYC) requirements for designated non-financial businesses and professions (DNFBPs).

- Page 30

Legal issues, others hamper reforms

- Dr Ngozi Okonjo-Iweala Minister of Finance

THE CEO

‘President, governors don’t - P. 32 deserve pension’

Can 5% Users Charge improve road network?- P. 27 News Briefing

The reserves stand at $36.37 billion, but our target is $50 billion by the end of the year. With the volatility in oil prices and the uncertain growth in the rest of the world, we need to. At it stands, Nigeria does not have sufficient buffers.

Oteh: Presidency, National Assembly T mull removal options HE Presidency and the National Assembly are considering options to ease out embattled DirectorGeneral of the Securities and Exchange Commission (SEC), Ms. Arunma Oteh. Oteh was recently recalled from compulsory leave and reinstated through a letter by the Secretary to the Government of the Federation (SGF), Chief Anyim Pius Anyim. Anyim had stated that Oteh’s recall was based on her exoneration in a report by Pricewaterhouse Coopers. But as Oteh was resuming, the House of Representatives’ Ad Hoc Committee on the Near Collapse of the Nigerian Capital Market released its 84-page report detailing several alleged criminal breaches and illegalities by Oteh. Among other recommendations, the report called for the DG’s sack. Sources confirmed at the weekend that President Goodluck

By Taofik Salako

Jonathan has in the light of the protests and intrigues surrounding her recall, directed that the full report of the House of Representatives’ committee and its resolutions as well as the report of Pricewaterhouse Coopers be made available to him. A source said the recall of the Oteh was done to preempt the release of the indictments by the House of Representatives’ committee without giving adequate consideration to the review and consideration by the supervising Ministry of Finance. The source said the President has given his commitment to ensuring that the two reports are given proper review, adding that the President will not shy away from exercising the power conferred on him by the Investment

and Securities Act (ISA) to remove any chief executive of SEC. Section 8, subsection 2 of ISA empowers the President to, “at any time and upon the recommendation of the Minister, remove a person to whom Subsection (1) of this section applies provided no full time member of the Board of the Commission shall be removed from office without the approval of the Senate.” Subsection 1 lists reasons for removal of any member of SEC’s board, including conviction of a felony or any offence involving dishonesty and being guilty of serious misconduct in relation to his duties. A source at the National Assembly said the lawmakers would give reasonable time for the President to decide on the

implementation of the report of the ad hoc committee. But the source said the lawmakers have many alternative options to ensure that the report and its recommendations are not pushed aside like others in some parastatals. Chairman, House Committee on Capital Market and Other Institutions, Herman Hembe, confirmed that the House would review the implementation of the ad hoc committee’s report when it resumes in September. Citing the push given to the fuel subsidy probe report and ongoing trial of some alleged culprits, Hembe said the House has also decided to ensure that the ad hoc committee report on capital market is duly implemented, especially the categorical resolution to remove Oteh for lack of quali-

Operator lists hurdles in aviation

THE various reforms being embarked upon by the National Insurance Commission (NAICOM) are constrained by a poor legal framework, poor public perception and low awareness of the industry, the Commissioner for Insurance Fola Daniel, has said.

By Kelvin Osa-Okunbor

- Page 39 DATA STREAM COMMODITY PRICES Oil -$107/barrel Cocoa -$2,686.35/metric ton Coffee - ¢132.70/pound Cotton - ¢95.17pound Gold -$1,800/troy ounce Rubber -¢159.21pound MARKET CAPITALISATIONS NSE JSE NYSE LSE

-N6.503 trillion -Z5.112trillion -$10.84 trillion -£61.67 trillion RATES Inflation -10.5% Treasury Bills -7.08% Maximum lending-22.42% Prime lending -15.87% Savings rate -2% 91-day NTB -15% Time Deposit -5.49% MPR -12% Foreign Reserve $35.8b FOREX CFA 0.2958 EUR 206.9 £ 242.1 $ 156 ¥ 1.9179 SDR 238 RIYAL 40.472

fication and incompetence. “The House is committed to seeing to the implementation of the report of the ad hoc committee on capital market. The House is committed to this. We will ensure that all the illegalities are corrected,” Hembe said. Resolution 19 of the ad hoc committee’s report stated that the appointment of Ms Arunma Oteh be terminated forthwith as Director-General of Securities and Exchange Commission as her appointment is in violation of Section 3 (2) a and Section 38 (1) (b), 2 and 3; Section 315 of the Investment and Securities Act, 2007 in that she did not have 15 years experience in the Nigerian capital market as required; she has shown incompetence in the management of human and material resources at her disposal in Securities and Exchange Commission; and lack of transparency in managing Project 50, among others.

•Kwara State Governor, Alhaji Abdulfatah Ahmed (left) welcoming Group Managing Director/CEO, Kwara Holdings Company (KHC)Mr Yusuf Babatunde Abdulwahab during a visit by Abdulwahab to the Government House, Ilorin. With them is Chairman, KHC, Prof. Haliru Abubakar.

Why telecoms firms can’t list on NSE, by minister

IGH costs of listing on the Nigerian Stock Exchange (NSE) and the inability to access cheap funds from abroad are some of the reasons telecoms firms, especially those with international affiliation, can’t list on the Nigerian Stock Exchange (NSE), The Nation has learnt. Minster of Communication Technology, Mrs Omobola Johnson, disclosed this at the Nigeria Business and Investment Summit, entitled: New world Nigeria: The world’s most vibrant market, organised by the Bank of Industry (BoI) at the Dorchester Hotel, London, United Kingdom. Noting that listing of telecoms operators cannot be legislated, the minister said companies, such as MTN would prefer to

By Ayodele Aminu, Group Business Editor

source their funds from aboard rather than list on the NSE where costs are high. “NSE needs to make it easier and cheaper for companies to list on the Exchange. It is only when costs of listing are competitive that the telecos can be attracted to list,” she said. The minster, however, said her ministry was in talks with the NSE to reduce its costs of listing. The biggest telecoms operators are MTN, Airtel, Etisalat and Globacom. The Federal Government had said it would compel telecoms firms in the country to list their shares on the Exchange. Minister of State for Finance, Dr. Yerima Ngama, who spoke

at a forum where ministers unveiled their scorecard as part of this year’s Democracy Day celebration and first anniversary of President Goodluck Jonathan’s administration, had stated that the era where multinational companies would come to Nigeria and generate huge profitS without the citizenry benefiting would become a thing of the past with the compulsory listing. “We are also trying to encourage new companies to list on the NSE; we want to make sure that MTN, Glo, Zain (Airtel) and all the companies that are doing very well and making billions of profit should also list on the capital market so that Nigerians can share from their profits,” he had said. But despite recent reduction

in the initial listing and annual listing fees by the NSE, it still remains the costliest stock exchanges in the emerging markets. Apart from charging the highest fees at the point of listing from prospective companies wishing to access the market, both the annual listing fees and costs to investors on transactions done on the floor of the Exchange are relatively high. Major Exchanges in Africa, namely, Cairo Stock Exchange (CSE), Johannesburg Stock Exchange (JSE), and Nairobi Stock Exchange (NSE), have all introduced compelling incentives to entice upstart firms that might want to access the market following the crippling global financial meltdown.

ACK of finance, infrastructure deficit and slow facilitation of operations have been identified as obstacles to the growth of the aviation industry. The Managing Director, Bristow Helicopters, Captain Akin Oni, described as appalling the absence of funding options for operators in the sector, stating that until efforts are in place to fixing the financing gap, the sector may not experience growth. Oni told The Nation that operators’ability to equip their fleet with newer planes, whether fixed or rotary wings without adequate operational infrastructure at the airports will not bring about the expected service levels. He listed other key challenges to include dearth in indigenous manpower, which has forced airlines to either hire expatriates’ aircraft engineers or pilots and other personnel in the sector. He said the call for the setting up of a national aircraft maintenance hangar for airlines may not resolve critical industry challenges, until the government and airlines partner to achieve the desired local competence to man such facility. He said it would be disastrous for Nigeria to set up an aircraft maintenance hangar that gulps some millions of dollars. He said: “ If you fix financing obstacles in the aviation sector, you have fixed some of the major problems. “But with the unacceptable state of airport infrastructure available today at airports in the country, it means our march to growth will be slow.”

THE NATION MONDAY, AUGUST 6, 2012

BUSINESS NEWS Embrace agric, RMRDC boss urges

Flight Schedule MONDAY - FRIDAY LAGOS – ABUJA Departure Arrival 1. Aero 06.50 08.10 2. Associated 07.00 09.30 3. Air Nigeria 07.00 08.20 4. IRS 07.00 08.20 7. Arik 07.15 08.15 7. Chanchangi 07.15 9. Air Nigeria 08.15 09.35 10. Aero 08.45 10.05 11. Arik 09.15 10.15 12. Chanchangi 10.00 11.00 13. IRS 11.15 12.35 14. Aero 12.20 13.30 15. Air Nigeria 13.25 14.45 16. Chanchangi 13.30 14.30 17. Arik 13.45 14.45 18. IRS 14.00 15.20 19. Aero 14.10 15.30 20. Air Nigeria 14.50 16.10 21. Chanchangi 15.30 16.30 22. Arik 15.50 16.50 23. Aero 16.00 17.20 24. IRS 16.30 17.50 25. Arik 16.50 17.50 26. Chanchangi 17.30 18.30 27. Air Nigeria 17.35 18.55 29. Air Nigeria (T/TH) 18.30 19.50 20. Arik 18.45 19.45 31. Aero 19.20 20.40

1. 2. 3. 4. 5. 6. 7. 8.

LAGOS – BENIN Arik 07.30 Associated 08.30 Aero 10.50 Arik 11.45 Associated 13.00 Aero 14.25 Arik 15.30 Associated 16.00

1. 2. 3. 4.

Arik Aero Arik Aero

1. Arik 2. Aero 1. 2. 3. 4.

LAGOS – CALABAR 07.30 11.20 12.50 16.00 LAGOS – JOS 10.55 11.15

LAGOS – KADUNA Aero 08.00 Chanchangi 10.00 Arik 10.00 Arik 15.10

08.30 09.10 11.50 12.45 13.40 15.20 16.30 16.40 08.50 12.40 14.10 17.20 12.15 12.45 09.10 11.00 11.10 16.20

LAGOS – PORT HARCOURT (CIVIL) 1. Aero 07.15 08.35 2. Arik 07.15 08.35 3. Arik 09.00 10.20 4. Aero 10.50 12.30 5. Arik 11.40 13.00 6. Air Nigeria 12.00 13.10 7. IRS 13.30 15.00 8. Arik 14.00 15.20 9. Air Nigeria 16.00 17.10 10 Arik 16.10 17.30 11. Aero 16.15 17.30 12. Arik 17.10 18.30 1. 2. 3. 4. 5.

LAGOS – OWERRI Aero 07.30 Arik 07.30 Air Nigeria 13.40 Arik 14.00 Arik 16.30

08.40 08.40 14.55 15.10 17.40

1. 2. 3. 4.

Arik Aero Arik Aero

LAGOS – WARRI 08.15 11.50 11.55 14.55

09.1 12.50 12.55 15.55

1. 2. 3. 4. 5.

LAGOS – KANO Air Nigeria 07.10 IRS 08.00 Arik 12.20 IRS 14.00 IRS 18.15

08.50 09.45 14.00 15.45 19.55

LAGOS – OWERRI 07.20 14.00 16.30

08.30 15.10 17.40

1. Arik 2. Arik 3. Arik

LAGOS – MAIDUGURI 1. IRS 11.15 13.15 2. Arik 15.50 18.00 LAGOS – ILORIN 1. Overland 07.15 2. Arik (M/T/TH/F) 17.30

08.00 18.00

LAGOS – ABUJA SAT/SUN Arik 7.15; 10.20; 2.20; 5.20pm – 7.30; 9.15; 10.20; 2.20; 4.50; 6.45 Aero 07.30; 09.35; 13.10; 14.50; 20.20 – 07.30; 09.35; 13.10; 14.50; 20.20 Air Nigeria 08.15; 14.30; 17.15; 18.30 – 08.15; 13.30; 14.30; 17.15; 18.30

By Toba Agboola

•From left: Akin Abiola, Deputy Governor of the State, Osun, Mrs. Titi Laoye Tomori and Ola Adedeji, Branch Head, Zenith Bank Plc, Osogbo during a courtesy call on the Deputy Governor in Osogbo.

‘Instant payment transactions hit N40b daily’ T HE Central Bank of Nigeria (CBN) has said between N40 billion and N50 billion is recorded at the Nigeria Inter-Bank Settlement System (NIBBS) Instant Payment (NIP) scheme. Through this channel, banks and other electronic payment service providers have provided funds to their customers. The Head of Shared Services Office, CBN, Mr Chidi Umeano, said the volume of transactions on the payment channels has increased greatly, adding that transactions through the Point of Sale(PoS) is in excess of N200 million daily. He said: “ The volume of transactions on all electronic payment channels is substantial. “Concerning NIP, we are doing transactions in excess of N40bilion to N50billion daily; for PoS, we do transactions in excess

By Akinola Ajibade

of N200 million daily. The figures come daily. The key thing is that they come daily.” He said the apex bank has achieved a lot in facilitating electronic payment transactions, adding that awareness creation is key to the success of the initiative. “ I will say in terms of awareness creation, I think we have achieved a lot. People understand what this is all about. In terms of deepening the penetration of alternative PoS’ terminals, we have achieved a lot in this regard. We have over 150,000 PoS terminals deployed in Lagos alone. “This is due to increased awareness. We see the trend going upward. We are getting reports from

NIBBS on the growth of other channels, and we are told that it’s increasing daily,” he added. He said efforts were on to ensure safety of the electronic payment channels, noting that the migration verve to ChipCard was a step in the right direction. He said the singular action has helped in reducing fraud by 90 per cent, stressing that a lot of things have been set in motion in the interest of the industry. Also, the Managing Director,NIBBS, Adebisi Shonubi, said the scheme’s instant payment value has gone upward between January and June this year. He said the cost of managing cash has been increasing, adding that the cash-less policy was introduce costs, among other issues.

‘Govt should increase intervention funds to N500b’

HE Lagos Chamber of Commerce and Industry (LCCI) has called on the Federal Government to increase the intervention fund for re-financing the manufacturing sector to N500 billion. Speaking with The Nation, the Director-General, LCCI, Mr Muda Yusuf, said the N200 billion intervention could not go round. Hence, there is need for the government to increase it to N500 billion. Muda said most manufacturers and Small and Medium Enterprises (SMEs) operators are yet to benefit from the fund. He urged both the Central Bank of Nigeria (CBN) and Bank of Industry (BoI) to relax its tight monetary policy stance, to encourage banks to boost credit delivery to the economy. Yusuf said: “The manufacturing sector is one of the most vulnerable in the economy because of competitiveness issues. Its contribution to Gross Domestic Product remains very low, at less than five per cent. “The usual challenges of the sec-

By Toba Agboola

tor persisted as high energy cost remains top on the list of the challenges facing manufacturing; market access is an even bigger challenge for most manufacturing firms.” He decried dearth of credit facilities to investors. “It is clearly more attractive now to invest in government securities than to invest in ventures that would create jobs. “Even banks would rather buy treasury bills and government bonds than give loans to investors. This credit and interest rate structure would continue to create distortions in the economy, which will only perpetuate the phenomenon of jobless growth and further depresses the stock market,” he said. According to him, banks tolerance of manufacturing sector continues to decline because of the perception of the sector as very risky as many SMEs lack the capacity to package

bankable credit requests, adding that some are too small to access credit individually. “Many entrepreneurs cannot meet the banks’ credit requirement, especially collateral; experience of the banks with loan quality of manufacturing and other real sector investors would not dispose them to give further loans; monetary policy tightening of the CBN has pushed up cost of fund; risk asset provisioning requirements of the CBN is a disincentive to lending,” he said. He noted that the economy needed some regulation for good performance, adding that too many regulatory agencies could be counterproductive. He said: “The key issues identified by private sector players in the economy are too many regulatory agencies in the economy; some with overlapping functions, the agencies are often more interested in revenue generation than on the real regulatory mandate and the charges of many of the agencies are prohibitive.”

HE Director-General, Raw Materials Research and Development Council (RMRDC), Prof. Azikiwe Onwualu, has said Nigeria can achieve greatness through agriculture. He told The Nation that Nigeria could compete favourably with the developed countries through agricultural practices, if properly used. He said agriculture is the major employer of labour in any part of the world, especially in Africa. “ Self-sufficiency and empowerment can be achieved if people are ready to take agriculture as occupation without necessarily waiting for the government. “ In China today, more than half of the population are engaged in farming, and it has gone a long way in alleviating their sufferings.” Onwualu said it was high time Nigerians began to think inward and developed our agricultural base in order to reduce over dependence on oil and become self reliant. He said for the country to be competitive, it must address the supply of raw materials so that industries can get the raw materials in the right quantity and quality. “And now, we are going further by adding that the source of those raw materials should be from Nigeria because hundreds of billons are used in purchasing raw materials annually but only a little percentage as 10 per cent comes from Nigeria. Yet, we have natural resources and primary commodities,” he said. Despite the abundance of natural resources and primary commodities in the country, Onwalu lamented that the only missing link is the inability of the economy to have some set of industries that can add value to primary commodities and convert them to secondary raw materials, which is what the industries actually need.

Frieslandcampina WAMCO gets new MD

RIESLANDCAMPINA Wamco Nigeria has appointed Peter Eshikena as Managing Director. He succeeds Bob Steetskamp, who moves up as Director, Business Development, FrieslandCampina worldwide. Eshikena will be based in Lagos. Before the appointment, he was the Sales Director and Deputy Managing Director of FrieslandCampina WAMCO. He joined FrieslandCampina WAMCO Nigeria PLC in 1985 as Shift Production Manager in Can Factory Department before moving up as Logistics Manager in the Logistics Department in 1991. He later became the Project Manager, Total Quality Management in the Quality Assurance Department in 1996. In a statement, the Corporate Affairs Manager, Ore Famurewa, said his appointment takes effect from September.

‘Decaying infrastructure bane of hospitality industry’

NFRASTRUCTURE decay as well as poor electricity supply have been identified as some the problems of the hospitality industry in the country. Chairman, Chez Moi Apartments, Ikeja, Chief Bisi Ogunjobi, said where businesses spend a large part of their working capital to pro-

By Okwy Iroegbu-Chikezie Asst Editor

vide electricity and other amenities, such as water and security, result in high cost of doing business, culminating in poor service delivery. He said many Nigerians would have been self-employed if electric-

ity was regular and people didn’t need to bother themselves with power generation and related services to run their enterprise. He urged the government to direct attention on drainage provisions, building of mini-water works, the construction and rehabilitation of roads in the vicinity of the area.

•Eshikena

THE NATION MONDAY, AUGUST 6, 2012

ISSUES

â&#x20AC;˘ Abuja Lokoja road

Can 5% Users Charge improve road network? Nigeriaâ&#x20AC;&#x2122;s road network is far from what it should be. It has increased to 195,400 kilometres with only about 60,000 paved. This falls far short of the 300,000 required to meet Vision 20:2020. To meet this target the government came up with reforms, such as the SURE programme and five per cent users charge, but observers argue that except the government supports the road sector beyond this, the five per cent users charge may not make appreciable difference, OKWY IROEGBU-CHIKEZIE writes. Continued on page 28

THE NATION MONDAY, AUGUST 6, 2012

ISSUES

Can 5% Users Charge improve road network?

•Onolememen Continued from page 27

HE Federal Ministry of Works Road Sector Committee, comprising local and international experts, recommended the establishment of a Road Fund and the creation of the Federal Roads Authority to drive the Public -Private- Partnership (PPP) initiative and other creative funding models that meet global best practices in road sector funding challenges. At the moment the government is toying with various funding models to change the face of the road network. Minister of Works Mike Onolememen said his desire is to reposition roads infrastructure to effectively oil the wheels of the economy. He said in view of the Federal Government's inability to wholly construct, expand, rehabilitate and maintain roads due to the global economic recession and its attendant consequences on the environment, the maintenance of existing roads had remained a major challenge to all levels of government for over three decades which calls on the need to discover alternative funding windows as against the traditional government funding mechanisms through yearly budgetary provisions.

Funding alternatives: SURE programme The Federal Government set up the Subsidy Reinvestment and Empowerment Programme (SURE). Mr Christopher Kolade a technocrat was the appointed chairman to manage and channel accruable funds to key critical infrastructure, especially road infrastructure. From the breakdown, the AbujaLokoja road was allocated N14 billion from the programme while the Benin-OreShagamu was given N16.5 billion. PortHarcourt-Onitsha road got N5 billion from while the Kano-Maiduguri road got N1.5 billion. Others are the Second Niger Bridge and Oweto Bridge which got N5.5 billion and N4 billion respectively. In addition, a provision of N23.5 billion is for maintenance of roads and bridges through the Federal Road Maintenance Agency (FERMA) from the same source. It is believed that if the programme is implemented with all sincerity there may yet be an improvement on the roads. Said Onolememen: "The desire of the Federal Government is to ensure that economically viable roads are reconstructed and modernised through various funding options, including government budget, multilateral funding, borrowing, collaboration with key stakeholders and the PPP model. It is, therefore, our duty to critically look at subsisting legal and institutional frameworks with a view to formulating policies that will attract local and international investors to invest in brown field (major arterial road) and Greenfield projects (new super highways) that will be beneficial to road users and help advance the sector to the position of those of other emerging economies,

•Makoju

such as India, Brazil, Turkey, Indonesia and South Africa."

Alternative materials The crisis of unprecedented collapse of our national road network provoked the House of Representatives Committee on Works to convene a public hearing titled The State of Nigerian Roads and discovered that the deterioration has increased. Lack of maintenance was also identified as the major cause of the collapse of the road network. In the search for a cost-effective solution, it was natural to search for an alternative surfacing material, which when compared with asphalt will require minimal maintenance. Chairman, Cement Manufacturers Association of Nigeria (CMAN) Mr Joseph Makoju, said the state of the roads elicit fresh interest by government and other stakeholders in cement concrete roads as an effective alternative. He observed that a robust and sustainable transportation infrastructure remains the most critical requirement for economic development. He stated that it is worthy to note that about 40 per cent of the roads in developed countries such as the United States (US), West Germany etc are made of cement concrete, whereas it is only about two per cent in emerging economy countries like India and less than 0.1 per cent in Nigeria. Makoju called for a critical look at the merits of the cement based option in terms of its commercial and technical appraisal. He said the idea behind the cement manufacturer's opinion is not to hide behind a marketing campaign to expand their sales but a serious contribution to finding cost effective sustainable road construction. The National Council on Works, in a communiqué on the state of the nation roads, approved the use of bitumen emulsion in all road projects in line with the Kyoto Protocol that discourages emission of gases that increase global warming, as well as abolished the use of kerosene on any road project. They called on policy makers to put more emphasis on research and development on all road infrastructure related matters, as well as encourage the manufacture of spare parts locally. They also suggested that plants and equipment for use on road construction and maintenance works should be standardised across the country to make it easier for spare parts and components replacement.

•Kolade

Collaborative efforts The collaboration with multilateral agencies is said to be yielding results as the World Bank, Africa Development Bank (AfDB) and other development agencies have started showing strong interest in our roads infrastructure development. The Nation learnt the collaboration has attracted over $300 million funding of road projects under the Road Sector Development Team, collaborative platform of the ministry and the World Bank. The National Council on Works also called for the upgrade of the PPP and Road Sector Development Team units into fullfledged department's to meet the contemporary challenges in the road sector, including the attraction of multi-lateral, bilateral and private sector financing including having effective frameworks to concession economically viable roads to compliment government's effort in that category. They also encouraged state governments to do same. The council insisted on a national tolling policy to encourage private investors and grant investors sovereign guaranty where project costs are high. It would be noted that only about 35 per cent of the paved roads are in good motorable condition. To meet the demands of Vision 20:2020 government's need to achieve a major improvement on our road infrastructure by ensuring that about 80 per cent of our paved roads are in good condition. This can only point to the stakeholders' belief that huge investment opportunities in road infrastructure should be encouraged between the government and the private sector. Beyond the institutional and legal frameworks, what is needed to achieve the lofty objectives of the road sector reform is a paradigm shift that will place premiums on private sector funding of roads infrastructure in a sustainable manner.

Way forward There is the need to ensure enhanced collaboration between the three tiers of government and the private sector to bring the nation's roads at par with emerging nations, such as Indonesia, South Africa, India, Mexico, Turkey and Saudi Arabia. In line with the Federal Roads Maintenance Agency (FERMA) Act 2007, the existence of state's maintenance agencies is the only way respective states can access their share of the five per cent users charge on

‘We fail to realise that road is a perishing asset. It has a lifespan and defects liability period, after which it requires regular maintenance in order to live and maintain its lifespan. That maintenance requires a plan, a budget and competent men and women, who will ensure the maintenance is done,

petroleum products for the maintenance of road. Onolememen, however, said that beyond the institutional and legal frameworks, what is needed to achieve the lofty objectives of the road sector reform is a paradigm shift that will place more premiums on private sector funding of roads infrastructure in a sustainable manner. Lagos State Governor, Babatunde Fashola, underscored the importance and significance of good road infrastructure as a catalyst for socio-economic development. He observed that roads, or the lack of them in any acceptable form, shows how closely our level of development is. "We fail to realise that road is a perishing asset. It has a lifespan and defects liability period, after which it requires regular maintenance in order to live and maintain its lifespan. That maintenance requires a plan, a budget and competent men and women, who will ensure the maintenance is done," he said. Fashola called for the deployment of large budgets for constructing, and fixing roads as constructing roads according to him, remains the fastest way to create jobs for engineers, consultants, suppliers, contractors and artisans. On the heels of that, he revealed his administration has been able to complete 557 roads from 2007 to date with 348 more at different stages of completion. He called for the decongestion of trailers, oil tankers and other heavy duty trucks from the roads. He regretted that accidents within cities and across states are taking too many lives. Said Fashola: “Tankers explode, containers fall, all because the roads are not how they should be in the first place, if we had a proper rail system in place. Deaths on our roads or injuries which maim are depleting our human capital. We are blessed with a young population if we are to secure our socio-economic transformation." Furthermore, Fashola argued that transportation is the linchpin of modern civilization. AHe said: “l remain convinced that from the day we can once again travel by road from Lagos to Ibadan in 50 minutes; Eric Moore to Badagry in 30 minutes; Lagos to Benin in two hours 45 minutes and Lagos to Port Harcourt in under five hours, then the country will not only heave a sigh of relief, it will also see a monumental leap in our common prosperity. He regretted that an unfortunate outcome of our poor road infrastructure is that we as a people are largely ignorant of the state of our roads and uninformed about this blessed and beautiful country. The National Council of Works while congratulating the government on the approval and subsequent deduction of the five per cent users' charge from sale of petroleum products for the maintenance of roads across the country, urged the Petroleum Products Pricing Regulatory Agency (PPPRA) to urgently implement the five per cent users charge to change the face of our roads.

THE NATION MONDAY, AUGUST 6, 2012

PERSONAL FINANCE Investor’s Worth

A physician as an investor

LOR’OGUN Sonny Kuku has for many decades been the quintessential example of the symbiotic healing between medicine and financial security. The first African Master of the American College of Physicians, the first recipient of the Distinguished Alumnus Award of the University of Lagos(UNILAG) and the Ambassador of Goodwill Award of the City of Freetown and the first and only physician to list the shares of a hospital, Kuku’s credentials as a physician are quite intimidating but so also is his passion for enterprise development and investment. In his primary calling and his hubby-investment, he holds many unequalled firsts. A long-standing trustee and distinguished fellow of the National Postgraduate Medical College of Nigeria, president and trustee of the West African College of Physicians, chairman, University College Hospital (UCH) Ibadan, Dr. Kuku has been the joint medical director and chairman at Ekocorp Plc, the owners of Eko Hospital, which he co-founded in 1978. In fact, the “K” in the “Eko” represents his surname under the arrangements whereby the name of the hospital was derived from the first letter of the surnames of the three trailblazing partners.

A fellow of the Nigerian Academy of Science, Dr. Kuku had variously chaired the Committee of Pro-Chancellors of State Universities, Committee of Chairmen of Federal Tertiary Hospitals and King’s College Old Boys Association. But while he remains a reference of excellence in medical practice, Dr. Kuku has always been an avid entrepreneur and investor. In 1984, he led the transformation of the Eko Hospital into a distinct corporate entity with the incorporation of Ekocorp. A decade later, •Kuku Ekocorp made history as the first medical company to be proof of Dr. Kuku’s investment listed on the Nigerian Stock prowess is his shareholding in Exchange (NSE). Ekocorp today Ecobank Nigeria. He held the ranks as the second most capit- second largest equity stake alised company in the 10-mem- among the directors with his shareholdings more than 167 ber healthcare sector at NSE. Kuku also have a long-stand- per cent above the entire direct ing interest in the financial ser- and indirect shareholdings of vices sector. He had served on other directors, excluding the the board of the then Midas director with the largest Merchant Bank and currently shareholding. It is noteworthy chairs the board of Midas Stock- that Nigerian citizens and brokers Limited. With his groups only hold 15 per cent growing profile as an invest- equity stake in Ecobank Nigement-savvy physician, Dr. Kuku ria while ETI owns 85 per cent. Dr. Kuku, no doubt, has demwas appointed to the board of Ecobank Nigeria Plc, the Nige- onstrated that healthy body and rian subsidiary of the pan-Afri- soul need not only medical precan bank-holding company- scriptions but also the assurance Ecobank Transnational Incor- of financial security that comes with building nest eggs that porated (ETI), in 2004. Beside his major equity stake stream in incomes irrespective in Ekocorp, another public of physical presence or absence.

Ask a Broker

What is an index fund?

NDEX fund is a type of mutual fund which investments objectives and stock selection is linked to a specific index. Generally, indices are designed to measure performance of a group of stocks-within a sector, many sectors, the entire market or many markets. An index fund tracks and invests in the underlying stocks that form the index. As such, the return of the index fund is closely related to the return of the index. There are no known index funds in Nigeria

but there are several indices that an investor can track and invest in the underlying securities. The All Share Index (ASI) of the Nigerian Stock Exchange (NSE) is the benchmark value index for the entire Nigerian stock market and serves as country index for Nigeria. ASI measures changes in prices of all quoted companies and provides average view of the return in the market. The NSE 30 Index represents the 30 most capitalised stocks at the

NSE while the NSE Banking Index, NSE Food and Beverages Index, NSE Insurance Index and NSE Oil and Gas Index broadly represent the key sectors of banking, food and beverages, insurance and petroleum-marketing. Index fund is usually passive but it may sometimes benefit from the broadness of the index it is linked to, especially in a bullish market. The passive nature of index fund however makes it susceptible to the changing moods of the market, which necessarily may not be based on fundamental evaluation.

Ways and Means

What to consider before opening bank account

ORMAL banking relationship starts with the opening of an account; irrespective of the type of account. Either savings or current accounts, investment-linked or transactional accounts, a potential account holder needs to consider some key points that may be crucial to optimal account management as well as security of his account. The first consideration is the fundamental strengths of the financial institution. These measures of a fundamentally strong bank include compliance with all statutory operating requirements issued by the Central Bank of Nigeria, profitability of its banking operations as evidenced by the profit and loss accounts and its institutional financial strength as indicated by the balance sheet. Banks are required to display key extracts of their audited report and accounts in the banking hall and in the absence of a displayed copy; one may request to see the key financials of the bank. Ascertaining the fundamentals of the financial institution is important because the depositor also stands to lose from the sudden collapse of the bank.

Although the Nigerian financial services authorities guarantee all deposits in the event of any untoward development in any bank, the intervening period between the intervention and resolution of the issue may weaken the depositor’s financial position or create an outright insolvency problem. A potential account holder also needs to consider the board and management of the bank. The composition of the board in terms of diversity of skills, experience and influence as well as integrity of members of board would determine the quality of their oversight functions. Also, the quality of management in terms of professional knowledge and cumulative experience will drive the financial performance of the bank, which is crucial to the security of the deposit or investment. Many sudden unexplained resignations from the board or management are often early warnings of serious organisational crisis. Ownership and structures determine the resilience of any financial institution, especially in the event of sudden regulatory changes such as the knee-jerk

increase of banks’ minimum capital base from N2 billion to N25 billion or macroeconomic changes such as sharp decline in public sector funds. Besides, the potential account holder must consider the suitability of the bank to his needs. This encompasses the niche banking segment, products and services and general customer orientation. A top-tier bank with main focus on corporate and high networth individual clients may not adequately cater for the banking needs of retail depositors, although the exigencies of the operating environment may necessitate offering retail banking products. Proximity of a bank, in terms of nearness to one’s centres of transactions- home, office etc, is also a major consideration. This not only reduces cost of transaction, it also enables the account holder to cope with emergencies. For instance, nearly all banks are well represented on the Marina commercial hub of Lagos and this may induce a low-to-middle cadre employee whose official centre of transaction is within the corridor to choose any of the banks.

Evaluating portfolio performance

VALUATION is one of the most important elements in any preoccupation. Whether in administration and management planning or physical construction planning, evaluation plays critical roles as the determining factor and gauge for the measurement of the extent of correlation between the objectives and the end results. When it is usually the last element on the planning process, evaluation serves as the initial element or trigger for the next planning and most importantly leads to corrective measures that better guide the planner closer to the realisation of his objectives. While fund managers and other professionals usually prepare investment evaluation report, either as a statutory requirement or for self evaluation, several individual investors lack the basic of understanding of return measurement. It’s important for any goalminded investor to understand basic elements and calculation of return on investment to aid in his personal evaluation or in understanding reports by investment professionals. The primary motivation of investment is return. Investment planning, strategy and tactics must therefore keep the primary objective in focus. In investment administration and management, measurement of return on investment is the only way of evaluating the performance of the investment vis-à-vis other comparable investments and alternatives. Return on investment represents the amount of monies realised from an investment, expressed in monetary value or percentage value, at a given period. ROI is the reward for the assumption of risks since there is no risk-free return in the real term. Every investment, including sovereign instruments and bestrated companies, involves an element of risks, no matter the degree of certainty of return. In portfolio management, it is important to determine the ROI for every stock or instrument and thereafter the overall ROI for the portfolio. This enables the investment manager to decide the growthdrivers for the period and possibly review its investment strategy. For fixed-income securities like bonds, treasury bills, fixed deposits and others, the ROI is simply measured by the coupon or interest rate, usually expressed in percentage term.

By Taofik Salako

To get the monetary value (Naira value) of the ROI, divide the gross sum of investment by 100 and thereafter multiply the answer with the interest or coupon rate. For example, suppose you invest N2 million in government bond with a coupon rate of 19 per cent per annum, your ROI at the yearend will be N380, 000. For equity investment, return on investment comes in mainly in two ways, cash income and capital gain (loss). The other form of return is scrip or bonus shares. The cash income refers to the gross value of dividend declared by the company while capital gain (loss) is the difference between the purchase price per share and the current market value per share. Bonus shares result from distribution of retained earnings in the reserves of the company to shareholders, usually on the basis of the nominal value of the company and proportional to each shareholder’s holding. ROI for investment in quoted equities thus comprises of the totality of all these, expressed in monetary or percentage term. Suppose you purchased 100,000 ordinary shares of a company at N20 per share with a transaction cost of 4.0 per cent at the beginning of the period, your total cost of investment will be N2 million + N80, 000 = N2.08 million. If the company declared a dividend of 70 kobo per share, your gross dividend or cash income will be N70, 000. Where the market value of the company has risen to N30 by the year end, your capital gain is the difference between the opening and closing price, which is N10, multiply by the number of shares, 100,000, totaling N1 million. The total ROI in this example in monetary term is therefore N1.07 million. To further test the return rate of the investment, deduct the exit transaction cost from the ROI to get a net return. Given existing 10 per cent withholding tax on dividend in the Nigerian market, one may further undress the ROI by deducting withholding tax or use the net dividend income rather than gross dividend income in the calculation of ROI. The above example illustrates measurement of ROI in monetary term. To express this in percentage term, simply get the percentage equivalent of the ROI in the total cost of investment. For the above example, this is express as follows: N1.07/N2.08 * 100 = 51.44. Thus the ROI is 51.44

per cent. The percentage return on investment can also be calculated by determining the dividend yield and capital appreciation rate, and then add the two together. Dividend yield means the percentage of dividend per share to the purchased price per share. Dividend yield for the above example is express as follows: 70 kobo/ N20 * 100 = 3.5 per cent. Percentage capital gain is the percentage change between the purchased price and the closing price, which for our example is express as follows: N30 N20 = N10/20 * 100 = 50 per cent. The addition of dividend yield and percentage capital appreciation gives the percentage ROI. Thus, the percentage ROI in this example is 53.5 per cent, which tallies with the monetary value calculation if the cost of investment is discountenanced. For stock with bonus shares, the total volume is taking to be the initial volume and the bonus shares as the bonus share is reflected in the share price of the company. In calculating a comprehensive ROI, any return accruing on the dividend income from a particular investment, should be added to the ROI for that particular stock. For instance, interest earned on a deposited dividend income or capital gains or/and dividend from reinvestment of dividend income. To get a fuller picture of ROI, otherwise called real ROI, adjustment should be made for the inflation by subtracting the inflation rate from the ROI. Thus with an inflation rate of 14 per cent, the ROI in the above example comes down to 39.5 per cent, without adjustments for taxes and charges. Another way of making better meaning of the ROI is by comparing average ROI on a class of instruments, like shares, with average ROI on another class of instruments, say bonds or deposits. Comparison can also be between ROIs of similar instruments, such as ROIs of two cement companies; between different sub-sectors of the economy, like petroleum-marketing and building materials; between the portfolio or stock ROI and the overall market benchmark index, like the All Share Index (ASI) of the Nigerian Stock Exchange (NSE); stock-to-stock comparison, Access Bank vs FCMB; individual portfolio and mutual fund; and between self-managed portfolio and portfolio under investment manager.

‘In portfolio management, it is important to determine the ROI for every stock or instrument and thereafter the overall ROI for the portfolio. This enables the investment manager to decide the growth-drivers for the period and possibly review its investment strategy’ Feedback/Comments: Email: taofad2000@yahoo.co.uk; SMS only: 080-2833-0861

THE NATION MONDAY, AUGUST 6, 2012

MONEY LINK

Money Laundering: CBN issues KYC to non-financial firms

HE Central Bank of Nigeria (CBN) has issued additional Know Your Customer (KYC) requirements for designated non-financial businesses and professions (DNFBPs). This is expected to enable the regulator check money laundering and other malpractices in the sector. A circular signed by CBN Director, Financial Policy and Regulation,Chris Chukwu, said financial institutions are required,

Stories by Collins Nweze

prior to establishing business relationships with DNFBPs, to obtain evidence of registration. Such evidence include certificate of registration showing registration number with Special Control Unit on Money Laundering (SCUML) of Federal Ministry of Trade & Investments. He listed DNFBPs to in-

tal organisations, religious and charitable organisations, Federal Ministry of Trades and Investments or appropriate regulatory authorities, may from time to time designate. The apex bank also listed DNFBPs customers include sole practictioners, partners and employed professionals within professional firms. Chukwu said the group do not refer ‘internal’ profes-

clude dealers in jewelry, precious metals and stones, cars and luxury goods, audit firms, tax consultants, clearing and settlement companies, lawyers, notaries, other independent legal practitioners, and chartered accountants, trust company service providers. Others include hotels, casinos, supermarkets, real estate agents, non-governmen-

FirstBank to restructure IRSTBank has won regulatory approval to transfer its subsidiaries into a newly-formed holding company, in line with regulatory requirements to separate core lending from other businesses. The Central Bank of Nigeria (CBN) two years ago scrapped the universal banking model and directed lenders to sell their stakes in non-banking subsidiaries or adopt a holding company structure. Onche Ugbabe, the Chief Strategy Officer, said the bank

had received a nod from the Securities and Exchange Commission (SEC) to proceed with the new structure and was waiting for approval from the apex bank and shareholders. “We expect to conclude the implementation by the third quarter,” Ugbabe told a conference call with analysts. Rivals UBA and Stanbic IBTC Bank, the local unit of South Africa’s Standard Bank, said recently they would form holding companies to retain their subsidiaries, including asset

management operations. First Bank, said it had no need to boost the capital bases of its offshore units, following new rules from the CBN on how lenders use local funds abroad and as other African countries tighten requirements for foreign lenders. According to Reuters, the bank said its offshore units in the United Kingdom and Democratic Republic of Congo were adequately capitalized and that it had no concerns about the new central bank

rule. The CBN has issued a directive to lenders restricting them from recapitalising offshore units from funds sourced at home, in order to avoid capital flight and save a weak naira which has lost three per cent since April. “In the unlikely event that we need to raise capital for subsidiaries there are many options we can explore we can also reduce dividend payments,” its Chief Executive Bisi Onasanya said.

Economic performance tops agenda at FICAN Roundtable

PANEL of economic experts will discuss the performance of the economy at the inaugural RoundTable on the Economy being organised by Finance Correspondents Association of Nigeria (FICAN). The event will be held on Wednesday, August 8, 2012 in Lagos.

The panel includes, Wale Abe, Executive Secretary, Financial Market Dealers Association of Nigeria (FMDA); Edgar Ebunum, Cowry Assets Management Limited, and Bunmi Asaolu of FBN Capital. The event, tagged: ‘The FICAN Roundtable on Economic Performance’ is designed

to enhance the understanding of financial Journalists on key developments in the economy. It is equally expected to assist them in deepening their understanding of key issues on finance and investment, bridge knowledge gaps in these areas and enhance reporting and news judgment. Issues like Monetary and Fis-

cal Policy, stocks and bonds performance, forex market among others will be discussed. Most importantly, through media reports of the proceedings, the Association aims to enhance public consciousness and understanding of happenings in the national economy as well as global economic developments.

FGN BONDS Amount N

Rate %

M/Date

3-Year 5-Year 5-Year

35m 35m 35m

11.039 12.23 13.19

19-05-2014 18-05-2016 19-05-2016

Price Loss 2754.67 447.80

INTERBANK RATES 7.9-10% 10-11%

PRIMARY MARKET AUCTION (T-BILLS) Tenor 91-Day 182-Day 1-Year

Amount 30m 46.7m 50m

Rate % 10.96 9.62 12.34

Date 28-04-2012 “ 14-04-2012

GAINERS AS AT 1-8-12 SYMBOL

UBN ETERNA UPL CUTIX UTC DANGSUGAR SKYEBANK FIDSON HONYFLOUR TRANSCORP

O/PRICE

4.20 2.02 3.94 1.66 0.64 4.72 2.80 0.73 1.85 1.00

C/PRICE

4.41 2.12 4.13 1.74 0.67 4.94 2.93 0.76 1.91 1.03

O/PRICE 3.20 125.00 18.19 1.42 10.55 7.71 1.22 6.11 4.69 3.29

C/PRICE 3.04 118.75 17.29 1.35 10.03 7.33 1.16 5.81 4.46 3.13

ROMINENT chief executive officers (CEOs) from the world’s leading companies, including Access Bank Plc, Levi Strauss & Co., The Coca-Cola Company, Johnson & Johnson, the National Basketball Association (NBA) and Virgin Unite have called on 46 countries to lift travel restrictions on People Living With HIV/ AIDS (PLWHA). In a statement, the bank said this at the opening day of the International AIDS Conference in Washington, DC, United States, where 30,000 people from 200 countries met from July 22-27. The world’s largest AIDS conference held in the US for the first time in 22 years because in 2010 President Obama lifted the US travel ban against people living with HIV, the same year that China ended its travel ban. More than 20 CEOs of leading global companies including Aigboje Aig-Imoukhuede,

Group Managing Director/ CEO, Access Bank Plc signed a pledge to oppose HIV-related restrictions on entry, stay and residence, saying such laws and policies are not only discriminatory, they are bad for business. The bank CEO is also a coChair of GBC-Health said that these policies did not reflect the successes humanity has achieved in the struggle against HIV and have belied the efforts of private sector organizations that have committed significant resources to making the world a better place for humanity”. He added that it is time governments of affected nations rescinded these laws”. Also, Michel Sidibe, Executive Director, UNAIDS said “There is no evidence that these restrictions protect public health, adding that they are discriminatory and violate international human rights standards.”

CHANGE 0.16 6.25 0.90 0.07 0.52 0.38 0.06 0.30 0.23 0.16

Exchange Rate (N) 155.2 155.8 155.7

Date 2-7-12 27-6-12 22-6-12

CAPITAL MARKET INDEX Year Start Offer

Current Before

C u r r e n t CUV Start After %

NGN USD

147.6000

149.7100

150.7100

-2.11

NGN GBP NGN EUR NIGERIA INTER BANK (S/N) (S/N) Bureau de Change (S/N) Parallel Market

239.4810 212.4997

244.0123 207.9023

245.6422 209.2910

-2.57 -1.51

149.7450

154.0000

154.3000

-3.04

152.0000

153.0000

155.5000

-2.30

153.0000

154.0000

156.0000

-1.96

DISCOUNT WINDOW Feb. ’11

July ’11

Dec ’11

MPR

6.50%

12%

Standing Lending Rate ,, Deposit Rate ,, Liquidity Ratio Cash Return Rate Inflation Rate

8.50% 4.50% 25.00% 1.00% 12.10%

8.50% 4.50% 25.00% 2.00% 12.10%

9.50% 5.50% 30.00% 2.00% 12.6%

NIBOR Tenor 7 Days 30 Days 60 Days 150 Days

NSE CAP Index

27-10-11 N6.5236tr 20,607.37

Rate (Previous) 4 Mar, 2012 9.0417 9.6667 11.2917 12.1250

Rate (Currency) 6, Mar, 2012 10.17% 11.46% 11.96% 12.54%

28-10-11 N6.617tr 20,903.16

% Change -1.44% -1.44%

MEMORANDUM QUOTATIONS Name

CHANGE

0.21 0.10 0.19 0.08 0.03 0.22 0.13 0.03 0.06 0.03

Amount Sold ($) 150m 138m 113m

EXHANGE RATE 6-03-12

LOSERS AS AT 1-8-12

SYMBOL FCMB MOBIL ARBICO CUSTODYINS BETAGLAS BERGER IKEJAHOTEL CHELLARAM NASCON VITAFOAM

Access Bank, others make case for PLWHA

Amount Amount Offered ($) Demanded ($) 350m 150m 350m 138m 350m 113m

Currency OBB Rate Call Rate

above requirements,” he said.

WHOLESALE DUTCH AUCTION SYSTEM

MANAGED FUNDS

NIDF NESF

•CBN Governor, Sanusi Lamido

DATA BANK

Tenor

Initial Current Quotation Price Market N8250.00 5495.33 N1000.00 N552.20

sionals that are employees of other types of business, nor to professionals working for government agencies who may already be subject to anti-money laundering measures. DNFBPs, which are existing financial institutions’ customers are requested to update their account information with the above evidence within six months. “All banks and other financial institutions are, therefore, by this circular required to comply with the

Offer Price

Bid Price

ARM AGGRESSIVE 9.17 KAKAWA GUARANTEED 1.00 STANBIC IBTC GUARANTE 123.15 AFRINVEST W.A. EQUITY FUND 107.40 LOTUS CAPITAL HALAL 0.74 BGL SAPPHIRE FUND 1.09 BGL NUBIAN FUND 0.95 NIGERIA INTERNATIONAL DEB. 1,724.31 PARAMOUNT EQUITY FUND 8.95 CONTINENTAL UNIT TRUST 1.39 CENTRE-POINT UNIT TRUST 1.87 STANBIC IBTC NIG EQUITY 7,936.33 THE DISCOVERY FUND 193.00 FIDELITY NIGFUND 1.67 • ARM AGGRESSIVE • KAKAWA GUARANTEED • STANBIC IBTC GUARANTE • AFRINVEST W.A. EQUITY FUND

9.08 1.00 123.01 107.29 0.72 1.09 0.93 1,723.08 8.51 1.33 1.80 7,727.45 191.08 1.62

Movement

OPEN BUY BACK

Bank P/Court

Previous 04 July, 2011

Current 07, Aug, 2011

8.5000 8.0833

Movement

THE NATION MONDAY, AUGUST 6, 2012

MONEY MARKET REPORT

Interbank lending rates climb by 17% on CRR hike T HE Interbank lending rates jumped last week to an average of 17 per cent from 14.08 per cent the previous week. This came after the Central Bank of Nigeria (CBN) raised the Cash Reserve Ratio (CRR) from eight per cent to 12 per cent during the last Monetary Policy Committee meeting. The apex bank had also reduced net open foreign exchange positions to one per cent from three per cent to support the currency. The policy also led the market to open with a cash balance of about N19.60 billion on Friday, compared to a cash balance of N166 billion the previous Friday, reflecting the dearth of funds in the market. Traders said cash flow to treasury bills and foreign exchange purchases next week will further drain liquidity in the market and impact on cost of borrowing among banks. The banking watchdog also barred banks that borrow funds from its window from participating in foreign exchange auctions and lending to others on the interbank naira market. Traders said the new rules had spurred an upward movement in debt yields, including the cost of borrowing among banks. “A new Central Bank policy on restriction of cash movement between repo window and interbank lending and foreign exchange auction has impacted on liquidity in the market, causing cost of funds to jump,” one dealer told Reuters.

Naira/Interbank rates The naira eased against the dollar on the interbank and the bi-weekly foreign exchange auction on Wednesday as strong demand for the greenback from importers exerted pressure on the local currency. The naira closed at N160.90 to the dollar on the interbank market, compared with Tuesday’s close of N160.80. Dealers said the market had adjusted to the reduction in the net open position for lenders announced last week by the central bank. The secured open buy back (OBB) rate jumped to 16.50 per cent, from 13.50 per cent last week, 4.50 percentage points above the CBN’s 12 per cent benchmark rate, and 650 basis points above the standing deposit facility (SDF) rate.

Net foreign assets The CBN said net foreign assets of the banking system stands at N7 trillion. The apex bank said in a circular on its Annual Report for the year ended 2011, that the figure represents an increase of 10.4 per cent, in contrast with the decline of 14.3 per cent at the end of the preceding year. It also noted that the movement in money supply (M2) was largely driven by the expansion in domestic credit and foreign assets of the banking system. It rose to N5.8 trillion at end of December, 2011 from N5.3 trillion at end of December, 2010. Meanwhile, credit to the domestic economy grew by 42.4 per cent compared with 10 per cent in 2010. At that level, domestic credit exceeded the indicative benchmark of 29.3 per cent for fiscal 2011. The development reflected the 52.7 per cent growth in credit to the Federal Government and the 31.6 per cent rise in credit to the private sector. The result also showed that net domestic credit to the economy contributed 32.1 per cent to the growth of total monetary assets. Net credit to government (NCG) rose by 52.7 per cent, compared with 51.3 per cent at end of Decem-

By Collins Nweze

ber, 2010 and the indicative benchmark of 29.3 per cent for fiscal 2011. The substantial growth in credit to the Federal Government was attributed to the issuance of treasury bills and bonds during the review period. Notwithstanding, the Federal Government remained a net creditor to the banking system in 2011, as in the preceding year.

Lending Window/ WDAS The CBN also stopped authorised dealers from accessing funds from the Discount Window and the Wholesale Dutch Auction System (WDAS). In a statement signed by CBN Director, Financial Markets Department, E. U. Ukeje, tagged: “Review of the revised guideline for accessing CBN Lending Window and Repo Transactions,” the apex bank prohibited Authorised Dealers from accessing the Wholesale Dutch Auction System (WDAS) and the Standing Lending Facility (SLF) on the same day. It stated that Authorised Dealers are not allowed to access the WDAS window throughout the term of a repurchase of SLF transaction with the CBN. The new policy supersedes earlier circulars dated October 10, 2011 and July 26, 2012 on the same matter. “Further to the prohibition of Authorised Dealers from accessing the Wholesale Dutch Auction System (WDAS) and the Standing Lending Facility (SLF) on the same day, Authorised Dealers are henceforth not allowed to access the WDAS window throughout the term of a repurchase of SLF transaction with the CBN,” it said.

Foreign reserves Foreign exchange reserves fell 1.4 per cent month-on-month to $36.40 billion at July 25, from $36.93 billion a month before, hit by falling oil prices and strong dollar demand, latest figures from the Central Bank of Nigeria indicated. Foreign reserves for the country, Africa’s top energy exporter stood at $36.71 billion at the end of June, higher from $33.45 billion a year before.

T-bill sale The Federal Government plans to auction N142.1 billion in treasury bills (TBs) with maturities ranging from three months to one year at a twice monthly debt auction on Wednesday. The government said it would issue N32.05 billion in 91-day paper, N50 billion in 182-day bill and N60 billion in 364-day bill on August 8, in a Dutch, or reverse, auction. Nigeria issues treasury bills regularly to reduce money supply, curb inflation and help lenders manage their liquidity.Treasury bill yields rose marginally at last month’s auction to 13.94 per cent for the three month paper from 13.75 per cent, after CBN tightened liquidity to boost a weaker naira currency, which has lost three per cent since April.

•Naira notes

•US

Dollar notes

Pension funds Experts last week called for more efficient ways to utilise and manage the pension funds as a buffer for infrastructural development. To achieve this objective, the DETAIL Commercial Solicitors and Africa Infrastructure Investment Managers (AIIM) had last Wednesday, hosted an IPFA Nigeria Briefing titled ‘Investing Pension Funds in Infrastructure Projects: the Key Drivers’. The confab attracted many dignitaries in the industry. The briefing was held with the UK Trade & Investment, and the International Project Finance Association. It took place at the Residence of the British Deputy High Commissioner in Lagos, Mike Purves, Director of Trade of UK Trade & Investments. Speaking on behalf of the Deputy High Commissioner, he stressed the importance of the briefing as a means of bringing key stakeholders in the infrastructure financing sector to discuss pension funds as an alternative to infrastructure financing.

PoS The apex bank said banks have rolled out 185,000 Point of Sale (PoS) terminals to merchant locations across the country. The feat is expected to enable the lenders achieve a seamless cash-less banking outing.The CBN Deputy Governor, Operations, Tunde

Lemo disclosed this at a workshop on Payment Card Data Security Standards (PCIDSS) and a Cash-less Nigeria held in Lagos. He said that banks have continued to roll out more innovative electronic payment platforms to meet customers’ expectations. Currently, banks have deployed about 185,000 PoS terminals and before the end of the year, if things go as planned, about 150,000 PoS terminals will have been deployed.The cash-fewer project is on course and the initial challenges are being overcome.

Bank to bank report Union Bank of Nigeria Plc has posted a group profit of N8 billion in the first quarter ended March 31, 2012. This represents a 69 per cent growth compared with the first quarter of last year. Interim report and accounts of the bank for the period were presented in compliance with the International Financial Reporting Standard (IFRS). It showed that group bottom-line performance was driven by significant improvement in the profitability of the bank. Also, net profit rose by 127.2 per cent to N6.32 billion in 2012 as against N2.78 billion in 2011. Group net profit thus spiraled upward to N7.62 billion compared with N4.51 billion in corresponding period. Earnings analysis showed a bright outlook for the

‘The secured open buy back (OBB) rate jumped to 16.50 per cent, from 13.50 per cent last week, 4.50 percentage points above the CBN’s 12 per cent benchmark rate, and 650 basis points above the standing deposit facility (SDF) rate’

bank with basic earnings per share of N1.17 in first quarter , this year compared with 18 kobo posted in comparable period of 2011 and a loss per share of N14.06 recorded for the fullyear ended December 31, 2011. Unity Bank said it is ready to reward more participants in its savings promo-Aim, Save and Win, as it holds a second round of the Zonal Draws in five different locations across the country. Winners at the zonal draws will take home motorcycles, plasma television sets, generators, bicycles, refrigerators and telephone handsets. According to the External Communication Manager, Sani Zaria, the zonal draws will take place in Lokoja, Kogi, Uyo, Akwa Ibom State, Ibadan, Oyo State, Gombe, Gombe and Kano states. Savers numbering more than 6,000 under the category of N75,000 are qualified for the draws, while those in the category of N5,000 are about 64,000. FirstBank of Nigeria Plc has concluded plans to migrate its core banking application, Finacle 7, to a more robust and secure platform, Finacle 10. The bank’s management said this upgrade from Finacle 7 would transform its service delivery process and facilitate the introduction of innovative products specially designed for different customer segments. A statement from the bank said the decision to upgrade to Finacle 10 was borne out of the desire for continuous improvement. It added that the new platform will simplify end-user interfaces, support the latest database technologies and improve functional and operational capabilities.

THE NATION MONDAY, AUGUST 6, 2012

THE CEO Peter Esele, President-General of Trade Union Congress (TUC), the umbrella body of senior workers, does not mince words. In this interview with DUPE OLAOYEOSINKOLU, he demands a level playing ground for government agencies and individuals in the cash-less policy of the Central Bank of Nigeria (CBN). He also condemns the law on payment of pension and gratuity to elected officers because, in his view, it will make domestic debt unserviceable.

‘President, governors don’t deserve pension’

OW would you rate the performance of the economy? We keep hearing about macro-economic stability. When CBN releases its report, what you get is that the economy is growing at about seven per cent, or eight per cent. When I want to judge the economy, I ask myself, how many people have been employed? What is our standard of living? How much food is on your table? and what is the quality of the food? I judge my own economy from that angle, and I don’t think we have done well. In the last six months, the economy has been stagnant. I don’t expect unemployment to be taken care of in one fell swoop. What are the short-term, medium-term and long-term growth indices of reducing unemployment. I would determine the growth of the economy by the number of jobs the economy creates daily. Unfortunately, we have no statistics on this. In Europe and America, they know how many people are employed every month, and they talk about it. In our case, that is not the issue. For me, I am not on the same page with CBN, or Ministry of Finance when they say the economy is growing at six or seven per cent. What do you make of the current domestic debt of $41 billion? It is shocking that we are owing so much, domestically. And the danger of domestic debt is that, you cannot reschedule it. Foreign debt can be rescheduled and you can take moratorium. For the domestic debt, our prayer should be the government should not get to a level whereby it cannot service it. The day the government cannot do that, we would be travelling on the road to Greece, because, if your domestic debt is not serviceable, there is no way you are going to do anything. That means your internal economy is toast. My prayer is that we will be able to get out of it. And one of the ways that we have to get out of it, is either we open our eyes to get out of it, or we get out of it with our eyes closed, which will be more painful, because you have to think of belt tightening measures, austerity measures that

• Esele

will be very painful to the people. Reduction can also be attained now by cutting the cost of governance. The cost of governance in Nigeria is the highest in the world. We are looking at about over 70 per cent of the budget for recurrent. There is no way we can grow or develop on such a budget. This last budget, they reduced the recurrent by just 2.6 per cent, which is negligible. For any serious company to work, or to function, the recurrent should not be higher than 40 per cent. When life is difficult, they tell us that we have to behave the way they do in Europe and America, because they want to force some very difficult pills down the throat of ordinary Nigerians. They compare us to Europe and

PHOTO: DUPE OLAOYE-OSINKOLU

America. When they (those in authorities) want to load their pockets, they don’t compare themselves with their counterparts in Europe and America. There was a government official that resigned because his friend paid his hotel bills. That happened in Germany. He was a German President. Someone paid for his hotel, not that he paid from his pocket, or he paid from the state purse, a friend paid his hotel bill, and the accusation was that the friend could influence his decision. The hotel bill was less than $300. For that, the man had to resign. How can the debt be reduced? To reduce our internal debt, we have to look at how we run our government. Our

‘With the way they are pushing for life pension and gratuity, it will get to a stage where it will also lead to a strike. When you are a governor or president, for the next four years, you are taken care of by the state. Sometimes, eight years. Now, you are talking of pension, what have you contributed?’

government is too big, and that is very dangerous. I just hope there are serious plans to address this. Right now, I am not encouraged by all the plans to reduce our domestic debt. After Obasanjo got us out of the foreign debt, now the domestic one is a huge problem. What is your take on the police pension fund fraud? We have made our position clear on the pension fund fraud. It is happening because there is no control; there are no regulators, and the National Pension Commission (PENCOM) does not have access to regulating this pension fund. You’ll find out that it is happening in the Police and the Head of Service’s Office. Normally, what you have is, you either have a close pension, but you would be regulated by PENCOM. You would not hear of this fraud in people who are involved in contributory pension because those holding the money are separate from those in charge of the administrative part of the fund. The Pension Fund Custodian and the Pension Fund Administrators are different. So, what you have is that there are checks and balances. But in a situation where you have one permanent secretary, or one director that is in charge of everything, he holds the books, he knows where the money • Continued on page 33

THE NATION MONDAY, AUGUST 6, 2012

THE CEO

‘President, governors don’t deserve pension’ •Continued from page 32

is, he can cook and un-cook whatever he needs to get or whatever he wants. What we are saying is bring those funds to be regulated by PENCOM. The idea of having any of this money being directly managed by the Head of Service or any of the offices, to us, is unacceptable. One of the things the contributory pension scheme has done for the country is that you don’t get yourself involved in it and still go ahead and be queuing. People don’t queue anymore. As I am talking to you, I know what my pension is. I know what I am contributing. I get text message for it on a monthly basis. I already know. If I want to increase it, I know what to do. If I am changing my job, I know for how many months I can also go to them, and say I am changing my job, the contributory pension scheme is working very well. It is those areas of government that they’ve refused to be regulated. That is the problem. It is just like this cashlite that the CBN has introduced. CBN is giving you and I, a minimum and maximum amount that we can withdraw. The same CBN said that the ministries and government agencies are not part of it. Where is this corruption done? Is it in our private pockets or through the government? The problem is that we always have policy somersault. You made a law for pension in the country, you took some sections or ministries out, the same thing will happen when we start the cashless economy that the CBN is talking about. You have given the ministries and some sections of government the authority to move about with large amount of money, ministries, departments and agencies (MDAs) of the state. You have given them the right to move as much money as they can move, but in other parts of the world, no matter what, everything is done online. We have always followed this path of not being consistent and committed to policies and laws that we made. The oil subsidy probe started with enthusiasm, but now the public is afraid the report may be swept under the carpet. What do you think? I think it is a collective responsibility. One other thing is that we like to pass buck in this country. But I have always said this subsidy probe is something that we all need to take very seriously. It is no longer the fuel subsidy probe now. We have two, we have the House of Representatives subsidy probe which is N230 billion, and we also have the Aig-Imokhuede probe, which is N422 billion. Which one should we go after now? We should go after the higher one, which is N422 billion. What we should be asking ourselves now is not who has taken what. What we want is, bring the money back into the economy and see how we can use it to grow the economy, create jobs, and make life easier for the people. Whether XYZ got themselves involved in the fraud like what we have in the Farouk Lawan, Otedola issue, that is none of our business. Our business is strictly that we want to recover our money, and the money should go to our common wealth, and they should not be allowed to get away with it, because things like this will continue to happen, when people commit a crime, and appropriate sanction is not enforced, or they are not made to pay for the crime, you will now have a repetition of that crime in the system, that is why nobody really cares. That is why everybody feels they can do anything they like in Nigeria and get away with it. What is the implication of governors and lawmakers pushing for gratuity and life pension in the Pension Act 2004? With the way they are pushing for life pension and gratuity, it will get to a stage where it will also lead to a strike. When you are a governor or president, for the next four years, you are taken care of by the state. Sometimes, eight years. Now, you are talking of pension, what have you contributed? When you are a governor, and you served very well, I can assure you, the goodwill you will live on, will be forever. If you hear what they are getting now, it’s mouthwatering, it is staggering, if you are leaving after four years, you will collect salary for the rest of your life. Houses are built for you, and you can do whatever you want to do. I

think it will get to a head when workers will also come out and say they also want XYZ. If you are telling us the country is in a tight state, economy is not growing the way it should grow, I believe there should be collective sacrifice. Why don’t we compare this with what is happening in other places, because it is an honour and privilege to be a governor, to be a president, to be a lawmaker. A president in Nigeria is one out of 67 million, you can’t have two. The governor of a state is one out of that state, you can’t have two governors. Senate president, these are all, privileged positions. But once you are there, and you are now putting yourself first before the people, then everybody will be asking the question, what is this man after? And what government doesn’t know is that very soon, it is going to enter the various social clubs, because everybody takes a cue from the government. It’s going to enter every aspect of our lives, because people will learn from the government. Oh, they are doing it in the government, it is normal. And by so doing, you are bringing more tension into elected office, and raising the stake to do or die politics. It is really dangerous. But I also think they should borrow a leaf from their counterparts in other parts of the world, and see what they are doing. And if they are doing this same thing there, then, help me check how much they are being paid. The Pension Act 2004 states clearly what is due to workers from their employers and how it should be contributed. So, can elected officers gunning for pension now be accommodated under the Pension Act? They are not workers. Before you even get to take anything as a worker, you are supposed to put in nothing less than 35 years, or you get to the age of 60. At the end of the day, they are loading our domestic debt. You are spending so much money and this is going back to recurrent. We are going to have much money paying salaries, allowances, pension, gratuity, and then you have less money for infrastructure. And you are telling people you want investment in the economy, when you have no power, no good road, your education is in dire strait, it’s strange and sad that our leaders cannot see these things, because whether we like it or not, we’ll pay a price for these. All these things we are ignoring and not seeing now, we’ll pay a price for them. By the time we have millions of youth, who are not occupied, who have nothing doing, if they can’t find nothing doing, they will find something to do, whether good or bad. How do you see the Petroleum Industry Bill (PIB)? I believe Mr. President’s statement that the PIB is the Bible of oil and gas. It will itemise the benefits of oil and gas. It will also give a regulatory framework on how you can do anything in that industry. I happen to be a member of that committee. When I was asked to give a brief, I said the committee did what they think is best. If you know you still have some areas that you think were not properly covered by the committee, you can put it together and go to the National Assembly, because it is still a bill, it is not a law yet. The National Assembly, the people that you elected, you can get across to them and see one or two things that you can add or can remove. Then we will have a good law, because you can’t have a perfect law, anywhere in the world. As I always say a country is a work in progress, let’s see how we can continually improve the country, towards better governance structure. That is one of those things the PIB tends to correct in oil and gas.

• Esele

Being a stakeholder in the economy, and number one senior worker in the country, how do you view trade unions’ departure from sole reliance on check off dues, and taking to profitable businesses? It is a welcome development. If you got go the Trade Union Congress in the UK, they are very rich. They have investments. If you go to China, all the big hotels that you see are owned by trade unions. Another thing is that in this part of the world, the political office holders always want to hold on to the trade union. And one of the ways that you can do that is through financial resources. For example, throughout my sittings in the PIB committee, not even a day, was I paid sitting allowance, nor my flight ticket paid for. So, if I was going for a meeting like that, and the TUC cannot fund that, you can imagine the amount of interest that will be wielded on me. It doesn’t matter how you think about it. So, when trade unions have what I call financial independence, their autonomy is increased. It is not totality of everything, but majorly, you have the satisfaction of being able to run things the way you want to do them. The United States we talk about now, it is because of their financial state. The American Federation of Trade Unions contributed as much as $10 million to Obama’s campaign in his first term. All they wanted was to influence certain laws in America, which of course they did. So, trade unions are still at the infant stage right now. We need to invest to generate more money, even placing advert in the papers cost money. We are a pressure group, if we have to put pressure on the government advertorial cost money. Protests costs money. If I tell you how much we spent in the January subsidy protest, you would be shocked. To get things done, we need money. Money is not everything, but money will go a long way in helping you solve your problems and make life easier for you. And also make the next person listen to you, because as a pressure group, we will insist on influencing whatever is happening in our country. So, it is

‘They are not workers. Before you even get to take anything as a worker, you are supposed to put in nothing less than 35 years, or you get to the age of 60. At the end of the day, they are loading our domestic debt. You are spending so much money and this is going back to recurrent. We are going to have much money paying salaries, allowances, pension, gratuity, and then you have less money for infrastructure’

PHOTO: DUPE OLAOYE-OSINKOLU

very good. It is a good beginning, but we can do more. How is the TUC Venture faring in the mass transit bus service? We are doing well. I recently told someone, I am in the University of Business now. University of Business in the sense that, you won’t believe that one day, I had to drive and go after the bus, on the street, because when I looked at the financial aspect, I said I am not satisfied with what we are getting. In the first month, I had to virtually monitor its movement. It is something that one would expect in any part of the world. Trust is part of being given this investment, and it is important understanding your own part of the responsibilities that are passed to you. We have also been trying to breathe things down their throat, but, it’s improving now. The first month was a huge challenge. I virtually couldn’t sleep. I had to come to Lagos and follow the buses, monitoring the number of passengers they carried because the drivers claimed that they were not getting enough passengers, which was not true. One of the reasons we chose Lagos was the huge crowd. In the second month, there was a huge improvement. We have a project management officer who is tailing everybody to ensure that we follow what we have to do. We are learning the rope, but we are getting better by the day. What is your advice to other trade unions still relying on check-off dues? My advice to other trade unions is diversify, learn as much as possible to diversify, and also be responsive and responsible to those who are paying the check-off dues, because even check-off dues are coming down now, since they are cutting jobs. If you look at those who are not in the organised labour, it is also very huge, and one of the reasons that some of them are not coming to be organised is that they think these affiliate unions are not giving members enough value. We have to diversify, and also add value, because this value will attract those who are not yet organised. Be that as it may, we also need to build capacity, because, it is what you have that you give. You cannot give what you don’t have. For trade unions to think of diversification, they must have leaders who have this within them. Another angle is electing the right people, into the right office, who are forward looking, who can look at what can happen to the union in the next ten, fifteen years, that is also key, as well as training and education. With more exposure, which comes from education, which comes from training, it makes life easier for all of us, in charting forward the course of the trade union movement in Nigeria.

THE NATION MONDAY, AUGUST 6, 2012

EQUITIES NIGERIAN STOCK EXCHANGE DAILY SUMMARY AS AT 1-8-12

Power companies: Shareholders urge govt to give priority to quoted companies

HAREHOLDERS are rooting for consideration for public quotation status of bidders in the sale of 11 distribution companies created from the unbundling of Power Holding Company of Nigeria (PHCN), urging that selling the power companies to already quoted companies will benefit the generality of Nigerians. Shareholders at the weekend said preference for quoted companies would serve the greater purpose of the privatization, which is to unlock values for the Nigerian populace while also ensuring better management and accountability. Fifty four companies met the July 31, deadline set for companies to submit technical and financial proposals for the privatisation of the 11 companies. Three quoted companiesOando Plc, National Aviation Handling Company Plc (Nahco) and Honeywell Plc, were among the companies that met the deadline. Shareholders called on the Federal Government to avoid a repeat of the mistake in licensing of the telecommunications companies, all of which have refused to list their shares for wider participation in the enormous wealth creation in the industry. National Coordinator, Independent Shareholders Association of Nigeria (ISAN), Sir Sunny Nwosu, said the Bureau of Public Enterprises (BPE) should not repeat the mistake

•Investors stake N12b on equities By Taofik Salako and Tonia Osundolire

of the telecommunications licensing. According to him, since there are some companies which are listed that are bidding for the distribution companies, government should give these companies the first opportunity to acquire the power companies. “If they do that all stakeholders would benefit. The shareholders would share from the profit, the government would earn more revenue in form of taxes and other fees among others,” Nwosu said. He pointed out that the listed companies already have a trend in their financial performance and have listing experience, which would make it easier for them to list their energy distribution subsidiaries. Also, President, Nigeria Shareholders Solidarity Association (NSSA), Mr. Timothy Adesiyan, said government should favour bids from quoted and profitable companies. “These are companies that are used to making their shares available to shareholders. If some of the distribution companies are not sold to already listed firms, it would be another round of tough time to convince new firms to list the power companies on the Exchange just as we are having

with the GSM firms,” Adesiyan said. According to him, the global recognition of quoted companies and existing technical agreement with foreign partners would provide them with financial capacity and technical know-how to successfully manage the power companies. “Their listing status gives them access to funds to run these firms. It will therefore be a disservice to the nation and its citizens to sell these power companies only to foreign firms, whose background are not known,” Adesiyan said. Meanwhile, investors staked about N12.4 billion on 1.47 billion shares through 19,228 deals last week at the Nigerian Stock Exchange. Banks remained the major turnover drivers with trading in the shares of Zenith Bank Plc, Fidelity Bank Plc and Guaranty Trust Bank Plc accounting for 512.175 million shares, representing 34.81 per cent of total turnover for the week. The overall market outlook remained bullish as the benchmark index- the All Share Index (ASI) appreciated by 0.99 per cent from its opening index of 23,292.80 points to close at 23,523.16 points. Also, market capitalization of equities, which had opened at N7.41trillion, rose by o.99 per cent to N7.49trillion. Nigerian Breweries Plc led 31 other stocks on the gainers’ list, adding N5.30 on every share. GlaxoSmithKline Consumer followed with a gain of N3 per share. On the downside, Mobil Oil Nigeria Plc topped the 37-stock laggards’ list with a loss of N6.25 per share. Arbico followed with a loss of N1.85 on every share.

NIGERIAN STOCK EXCHANGE DAILY SUMMARY AS AT 1-8-12

THE NATION MONDAY, AUGUST 6 , 2012

EQUITIES WATCH

Email: taofad2000@yahoo.co.uk

Union Bank is riding high on improved earnings and renewed optimism on its prospects. With 717 per cent increase above average return in the second quarter, the bank consolidated its share price trend with more than 161 per cent increase above the benchmark return in July. In the early days of August, Union Bank has continued the bullish stride. But can it sustain this upward trajectory? TAOFIK SALAKO reports on underlying variables that may continue to impact on Union Bank's valuation.

HE Nigerian stock market has been quite bullish in recent months. Smarting from a negative 0.38 per cent return for the first quarter, equities rallied in the second quarter and closed the three-month period with average return of 4.6 per cent. With the gains in the second quarter, half-year's year-to-date return was upbeat at 4.2 per cent. For a market with mind-numbing streak of losses, the gains in the first half technically translated into some N362 billion. The All Share Index (ASI) - the benchmark index at the Nigerian Stock Exchange (NSE), which tracks price changes in all equities, closed the first half at 21,599.57 points as against its year opening index of 20,730.63 points, indicating a gain of 4.19 per cent. Aggregate market capitalisation of all quoted equities also showed modest increase of 5.54 per cent at N6.895 trillion compared with its value on board of N6.533 trillion for the year. ASI had closed first quarter at 20,652.47 points while market capitalization of equities had closed at N6.550 trillion. With new earnings showing significant upsides for most equities, stock market has maintained a largely bullish outlook so far in the second half. The Nigerian stock market witnessed its biggest month-on-month rally in July as investors pocketed N446 billion in capital gains. Aggregate market capitalisation of all quoted companies July at N7.341 trillion, representing an increase of 6.5 per cent or N446 billion. The ASI also showed corresponding return with a month-on-month return of 6.77 per cent, closing the month at 23,061.38 points. With this sustained rally, the seven-month year-to-date return at the NSE spiraled to 11.24 per cent, equivalent to a gain of N808 billion. The market consolidated with additional gain of 2.0 per cent in the first three trading days in August, pushing the year-to-date return upward to 13.47 per cent. At this level, equities now boast of simple real return on investment, albeit a modest increase. Adjusted for current inflation rate of 12.9 per cent or compared with several benchmark returns on fixed-income securities, equities open today with more reassuring outlook. But the overall market outlook is a mixture of extremely bullish stocks, average performers, notable laggards and stagnated stocks. This pitched investors in several camps, depending on the periodic portfolio composition. Within this context, Union Bank will rank among the extremely bullish stocks and by far, one of the major comeback stocks in the stock market. Pilloried as a failed bank, uncertainties had haunted the bank's market consideration throughout 2011 and the first quarter of this year. But with nearly everything- from corporate governance to earnings report, literally falling into place for the bank, its market consideration has sustained significant rally, pitching high as one of the best-return stocks in the overall market and one of the top-five stocks in the banking sector. Union Bank posted a return of 37.6 per cent in the second quarter and consolidated this with monthon-month return of 17.7 per cent in July. As the market set on upward in August, Union Bank added 0.46 per cent in the early trading days to open today at N4.41 per share.

New earnings as evidence The share pricing trend of Union Bank underlined increasing confidence in the fundamentals of the bank. Recent rally came on the heels of the release of the first quarter report, which provided tangible evidence of the success of the bank's recapitalization and restructuring exercise. Interim report and accounts of the bank for the period ended March 31, 2012 showed that Union Bank Group's net profit rose by 69 per cent to N8 billion. More importantly, the report indicated that the bottom-line performance was driven by significant improvement in the profitability of the bank as net profit rose by 127.2 per cent to N6.32 billion in 2012 as against N2.78 billion in 2011. Group net profit thus spiraled upward to N7.62 billion compared with N4.51 billion in corresponding period. Earnings analysis showed a bright outlook for the bank with basic earnings per share of N1.17 in first quarter 2012 compared with 18 kobo posted in comparable period of 2011 and a loss per share of N14.06 recorded for the full-year ended December 31, 2011. With the first quarter net earnings indicating earnings yield of more than 26 per cent at current share price on the secondary market, the report showed impressive investment outlook for the bank. Annualized, the first quarter earnings implied probable basic earnings per share of N4.68 for the full year ending December 31, 2012, showing greater prospects with earnings yield of some 106 per cent at current market consideration. This is an underlying variable for value-based investors.

How far will improved earnings take Union Bank? Besides, the report showed that Union Bank continued to improve on the efficiency and profitability of its core banking operations as net interest margin improved from 72.9 per cent to 74 per cent. Interest income stood at N20.8 billion while net interest income was N15.33 billion. Net fee and commission income rose from N3.33 billion to N6.63 billion, representing an increase of 99 per cent. Shareholders' funds stood at N193.84 billion in 2012 compared with deficit of N123.7 billion in first quarter of 2011. The first quarter performance also showed appreciable accretion above shareholders' funds of N186.99 billion recorded at the end of 2011. Total assets stood at N1.1 trillion with deposit of N565.34 billion in 2012. The report, presented in compliance with the International Financial Reporting Standard (IFRS), was the first indication of the positive capital base of the bank and a major affirmation of its capital adequacy and viability. These variables- earnings, capitalization, capital adequacy and viability, provide investors with macro pricing guidelines to review the market consideration of the bank, on a stand-alone basis and subsequently on competitive returns basis.

Seamless transition Besides, recent announcements on corporate governance appeared to have rebuilt confidence in corporate sustainability of Union Bank. The bank had signaled the completion of its rediscovery programme with the inauguration of a new high-profile board of directors to support the Funke Osibodu-led executive management team. The new board of director is chaired by Dick Kramer, chairman of African Capital Alliance and a long-standing finance and economic expert on Nigeria. Other non-executive directors included Dr. Yemi Osindero and Dickie Agumba Ulu. Earlier, Mr Mansur Ahmed and Dr. Nike Akande had been reappointed unto the board. Most analysts agreed that the new board's rich blend of international expertise and domestic knowledge would greatly influence the growth of the bank. Chairman of the new board, Kramer, has a long track record of achievements in Nigeria and the international markets. He came to Nigeria 34 years ago to launch Arthur Andersen & Company as Managing Partner, following similar roles in Brussels and Buenos Aires. He had trained in Accountancy and earned an MBA from Harvard Business School before joining Arthur Andersen in 1958, where he worked in all areas of the firm's practice and in the US, Latin America, Middle East, Europe, India and Africa. Following his retirement in 1994, Kramer stayed back in Nigeria to consult, invest and continue community service activities. He helped to establish the Nigeria Economic Summit Group (NESG), where he served as pioneer vice-chairman; the Harvard Business School Association of Nigeria (HBSAN), where he served as president; the Lagos Business School, where he is a member of the Advisory Board and Faculty; and more recently, the American Business Council. He has served as head of the technical team and member of Vision 2010. Following on the heels of the reconstitution of the board, the bank has announced plan for the transition from its rescue and restoration management team to a new team, which is expected to consolidate on the successes of the previous

management. The Group Managing Director, Mrs Funke Osibodu, who was appointed by the Central Bank of Nigeria (CBN) to salvage the then failing bank, would be exiting towards the end of 2012, after a momentous three and a half years period of transformation that has put the bank back on a sound footing. According to the corporate succession plan, four new non executive directors would also be appointed to strengthen independent oversight on the bank while existing executive directors will retain their positions. This not only provides a carry-forward strategy for the bank, it ensures the bank retains existing institutional memory and capacity while exploring new opportunities. The succession plan appeared to show greater consideration for stability amidst corporate renewal. Osibodu is expected to hand over in three months time to a new managing director, who will lead the remaining transformation agenda of the bank. The seamless transition from Osibodu to a new managing director, and her possible comeback as a guiding hand as non-executive director, will no doubt highlight the success of Union Bank as the most outstanding turnaround among the then failed banks. Under Osibodu, Union Bank survived its most challenging era in history, coming after a debt crisis and corporate governance issues, which brought the Nigerian banking industry close to collapse in 2009. This prompted the CBN to sack the former management of Union Bank alongside those of other seven banks. Osibodu was appointed as the managing director in 2009. She led the bank's turnaround - assets recovery, recapitalisation, rebranding and restored customers' and investors' confidence in the organisation. While three of the troubled banksAfribank Nigeria, Bank PHB and Spring Bank were nationalized due to perceived inability to meet recapitalization deadline and four others -Oceanic Bank International, Intercontinental Bank, Finbank and Equitorial Trust Bank, were acquired and subsumed under other banks, Union Bank stands out as the only rescued bank that completed a stand-alone recapitalisation. Besides, its recapitalization with $750 million was the highpoint of the recapitalisation programme. In addition to huge capital injection, Osibodu had led massive restructuring of the bank, changing the century-old bank from a sloppy service provider to a nimble, courteous and efficient service provider, with remodeled ultra-modern branches. With vast technology and increased attention to customer-centric products and services that treat each customer as a most valuable one, the bank has dropped the garb of old generation to a highly competitive financial super mart.

What outlook? But will Union Bank's improving earnings sustain? Will management change not create major dislocations? Most analysts were positive the bank's upward trajectory will not suffer any major reversal, irrespective of corporate changes. Citing the retention of the executive directors that have been working with Osibodu and her willingness to guide the new managing director through the transition phase, there appeared to be general optimism that the bank would realise its forecasts.

â&#x20AC;˘Mrs Funke Osibodu

Several analysts have said the first quarter report has rekindled the growth prospect of Union Bank, which had projected that it might pool as much as N66 billion in pre-tax profit in the course of three business years between 2012 and 2014. In a three-year forecast earlier made available to shareholders, the bank said it expected that shareholders would have as much as N47 billion in net earnings, which the board and shareholders could decide on at general meetings. Profit after tax, otherwise known as net earnings after tax or posttax earnings, exclusively belongs to shareholders who may decide to wholly or partly distribute the sum in cash payouts or bonus shares or plough back such into the business. According to the forecasts, profit before tax is expected to be about N66 billion for the threeyear period between 2012 and 2014. Profit before tax is expected to be N13.1 billion in 2012 and thereafter to N24.6 billion and N27.7 billion in 2013 and 2014 respectively. Net earnings distributable to shareholders is expected to be N9.16 billion in 2012 and subsequently rise to N17.9 billion and N19.4 billion in 2013 and 2014 respectively. "Those who are buying the stock are doing so on speculation that the bank will make a turnaround, '' Raheem Mohammed, a broker with Kundila Finance Limited recently captured the market mood for Union Bank. Besides, the management of the bank has said it expected new results to show appreciable improvements on the first quarter performance. Commenting on the first quarter report, Osibodu said the first quarter report was indicative of the efforts by the board and management to return the bank to its place of pride as a foremost financial institution that consistently creates value for all stakeholders. She assured that with the continuing intensive restructuring being undertaken by the management the bank has returned from the abyss of a bailed out bank with negative capital to one of the most promising financial institutions in Nigeria. With the market's grapevine already bursting with talks of robust second quarter earnings, Union Bank appears not only to be undergoing corporate transition but also a reconsideration of potential value. In any way, fundamentals and technical values are inseparable, and they both go to show the success or failure of an institution. For the Osibodu-led Union Bank, the reconsideration at the stock market is another pass mark for the success of the recapitalisation and turnaround.

THE NATION MONDAY, AUGUST 6 , 2012

DUE DILIGENCE

Seven-Up: Burden of costs S

EVEN-Up Bottling Company (7-Up) Plc came under pressure from its highly leveraged financing structure and global fluctuations in costs of primary inputs, leaving the food-drink company with lower net earnings and contentious returns outlook. Audited report and accounts for the year ended March 31, 2012, showed early warnings of slipping profitability and returns as the company struggled to manage costs within a moderate growth in sales. With declining gross margin and stagnant pre-tax profit margin, lower underlying returns reflected the drop in actual net earnings. While the top-line and operating costs posed considerable challenges, significant exposures to banks were major limiting factors that moderated the performance of the company during the year. Beside the disconcerting impact of growing threedigit gearing ratio on the balance sheet, the resultant costs on the profit and loss accounts unsettled the bottom-line. However, 7-Up achieved appreciable increase in sales and further gave assurance of its financial liquidity during the period. The company also retained its previous cash payout per share of N2 . With earnings per share at N3.23 in 2012 as against N3.56 in 2011, there is still considerable headroom for dividend growth, although declining net earnings could limit such consideration.

Financing structure 7-Up's financing structure was coloured by the negative potential of its increasing exposures to shortterm borrowings. The company's gearing ratio shot up to about 170 per cent in 2012, as against the 129 per cent in 2011. This reflected the 57 per cent in short-term borrowings from N11.05 billion in 2011, to N17.31 billion in 2012, compared with the 19 per cent increase in equity funds from N8.6 billion in 2011 to N10.21 billion in 2012. The company however appeared to restructure its liabilities, which provided succor against the spectre raised by the financial leverage. The proportion of current liabilities to total assets dropped from 42 per cent

Fiscal Year Ended March 31 Nmillion Profit and Loss Statement Main Business Segment Total turnover Cost of sales Gross profit Operating expenses Interest and other incomes Finance expenses Pre-tax profit(loss) Post-tax profit (loss) Basic earnings per share(kobo) Gross dividend Cash dividend per share (kobo) Net Assets per share (kobo) Balance Sheet Assets: Fixed assets Total long term assets Trade debtors Current assets Total assets Liabilities: Trade creditors Bank loans Current liabilities Long-term liabilities Total liabilities Equity Funds Share capital Total Equity Funds

â&#x20AC;˘Chairman, Seven Up Limited, Faysal El Khalil

by significant finance and top-line costs. Total turnover rose by 17.2 in 2011 to 22 per cent in 2012 ,while per cent to N59.86 billion as against the proportion of long-term liabili- N51.10 billion. Cost of sales, meanties to total assets conversely im- while rose by 19.5 per cent from proved from 37 per cent to 55 per N31.89 billion to N38.12 billion. cent. Equity funds now amount to 23 Gross profit thus showed moderate per cent of total balance sheet size, increase of 13 per cent from N19.20 as against 21 per cent in previous billion to N21.75 billion. year. Operating expenses-including It's total assets had increased by 10 distribution and administrative per cent from N40.23 billion to costs, increased by 10.5 per cent from N44.33 billion. The balance sheet size N15 billion to N16.6 billion. Nonwas driven mainly by considerable core business incomes improved increase in fixed assets, which rose from N43 million to N57 million. by 19 per cent from N22.33 billion to Interest expenses rose from N1.73 N26.63 billion. Total liabilities stood billion to N2.3 billion. at N34.12 billion in 2012 as against With these, profit before tax imN31.66 billion in 2011. proved by 16 per cent to N2.93 bilThe structure of liabilities changed lion in contrast with N2.53 billion considerably with current liabilities in previous year. However, a 247 dropping by 43 per cent, while non- per cent increase in tax provisions current liabilities rose by about 67 from N247.5 million to N860 milper cent. The paid up share capital of lion impacted negatively on net the company remained unchanged earnings after tax, which dropped at N320.3 million, implying 640.6 by 9.2 per cent from N2.28 billion million outstanding ordinary shares in 2011 to N2.07 billion in 2012. of 50 kobo each. Basic earnings per share thus slipped from N3.56 in 2011 to N3.23 Efficiency in 2012. The company has recomThe company's operating cost effi- mended gross dividend of N1.28 bilciency improved marginally during lion, representing about 62 per cent the year. Total cost of business, ex- of net earnings for the year. It had cluding finance charges, moderated paid distributed the same amount, to 91.4 per cent of total sales in 2012 which translated into dividend per compared with 91.8 per cent in 2011. share of N2, for the 2011 business year. The sustainable dividend outProfitability look however weakened with a diviin 2012 as 7-Up's profit outlook was clouded dend cover of 1.6 times against 1.8 times in 2011. 2012 2011 Net assets rode 12 months % change 12 months on the back of retained earnings to N15.94 as against 59,864 17.2 51,098 N13.39. 59,864 17.2 51,098 F u r t h e r 38,117 19.5 31,894 a n a l y s i s 21,747 13.2 19,204 showed a By Taofik Salako

16,576 57 2,300 2,929 2,069 323 1,281 200 1,594

10.5 32.6 33.0 16.0 -9.2 -9.3 0.0 0.0 19.0

14,998 43 1,729 2,525 2,278 356 1,281 200 1,339

26,627 26,627 264 17,704 44,331

19.2 19.2 -24.7 -1.1 10.2

22,333 22,333 350 17,898 40,231

3,978 17,310 9,586 24,535 34,121

28.8 56.7 -43.3 66.5 7.8

3,088 11,046 16,920 14,735 31,655

320 10,213

0.0 19.1

320 8,577

largely weak underlying profit and returns outlook. Gross profit margin dropped from about 38 per cent to 36 per cent. Pre-tax profit margin, which indicates average profit per unit of sales, stagnated at 4.9 per cent. While return on total assets improved from 6.3 per cent to 6.6 per cent, return on equity dwindled to 20.3 per cent in 2012 as against 26.6 per cent in 2011.

Liquidity The company's financial agility improved considerably during the year with substantial coverage for emerging liabilities. Current ratio, which relates current assets to current liabilities, improved from 1.06 times to 1.85 times. Also, the proportion of working capital to total sales improved admirably from 1.9 per cent to 13.6 per cent. However, debtor/creditor ratio declined from 11.3 per cent to 6.5 per cent.

Governance and structures 7-Up, a fast moving consumer good (FMCG) company, is the manufacturer and Nigerian franchise holder for several global soft drinks including Pepsi and Mirinda. Incorporated in 1959, 7-Up derived its name from its unique flagship brand-7-Up soft drink. Other popular brands include Teem Lemon and Mountain Dew. The company had recently diversified into manufacturing of bottled water, under the brand name aquafina. Its shares were listed on the Nigerian Stock Exchange (NSE) in 1959. With the voluntary delisting of Nigerian Bottling Company (NBC), 7-Up is the only publicly quoted soft-drink company in Nigeria. 7-Up is owned majorly by foreign shareholders, who control more than

Fiscal Year Ended March 31

72 per cent equity stake through Affelka S. A. With independent board and management, 7-Up broadly complies with code of corporate governance and best practices. The board and management remained unchanged during the year. Faysal El-Khalil still chairs the board while Mr Sunil Sawhney leads the executive management team as managing director and chief executive.

Analyst's opinion The performance of 7-Up in the immediate audited year sent a warning signal about the incongruous debt-based and relatively expensive financing structure of the company, especially in a sluggish luxurious market. While the company had maintained a delicate balance in managing controllable operating costs, the cost input from finance expenses represented a major dislocation. Already, the constraints posed by the tight top-line and high financial leverage are becoming more evident in the early reports for the new business year. First quarter report for the period ended June 30, 2012 showed that marginal growth of 3.1 per cent in sales narrowed down to declines of 35 per cent and 50 per cent in pre and post tax profits respectively. Turnover stood at N15.42 billion in first quarter 2012 as against N14.96 billion in comparable period of 2011. Profit before tax however dropped from N1.43 billion to N933 million while profit after tax dwindled to N713.9 million. Besides the need for more aggressive sales strategy to enliven the topline and create wider room for profitability, there is need to reassess the financing mix with a view to reestablish a supportive balance for long-term growth.

2012 %

2011 %

Financing structure Equity funds/Total assets Long-term liabilities/Total assets Current liabilities/Total assets Debt/Equity ratio

23.0 55.3 21.6 169.5

21.3 36.6 42.1 128.8

Profitability Gross profit margin Pre-tax profit margin Return on total assets Return on equity Dividend cover (times)

36.3 4.9 6.6 20.3 1.6

37.6 4.9 6.3 26.6 1.8

Efficiency Pre-tax profit per employee (Nm) Staff cost per employee (Nm) Cost of sales, operating exp/Turnover

NA NA 91.4

NA NA 91.8

Liquidity Current ratio Working capital/Turnover Debtors/Creditors

1.85 13.6 6.6

1.06 1.9 11.3

JOBS THE NATION

Website:- http://www.thenationonlineng.com

THE NATION MONDAY, AUGUST 6, 2012

â&#x20AC;˘ Students during a lecture period.

Building accountants from the scratch It is arguable whether the country has enough chartered accountants. The reason is not for fetched. Some states lack these professionals. To redress the situation, the Institute of Chartered Accountants of Nigeria (ICAN), came up with the students Special Project (SSP) to train students of educationally-backward states to meet employment requirements. AKINOLA AJIBADE writes.

LOBALLY, chartered accountants are regarded as intelligent, savvy, and coherent. They are seen as a rare breed because they have the knack for figures. They have eye for details, never missing anything while carrying out their duties. In accounting parlance, they are the watchdog, monitoring how

money is disbursed and spent on projects. They collate, supervise, audit and balance accounts; attributes that endear them to many. So good ones are much sought after by companies to foster growth. In Nigeria, the same scenario is obtained as private and public institutions strive to employ qualified chartered accountants.

Despite their importance to the operations of institutions, some states do not have enough chartered accountants. They include Bayelsa, Cross River, Kaduna, Kano and Kwara states. In the reckoning of the Institute of Chartered Accountants of Nigeria (ICAN), such states are educationally disadvantaged and,

therefore, need to be helped. Against this backdrop, the institute has introduced the Students Special Project (SSP) through which indigent students are to be trained and prepared for the labour market. On the project, ICAN collaborates with â&#x20AC;˘ Continued on page 38

THE NATION MONDAY, AUGUST 6, 2012

JOBS • Continued from page 37

the governments and philanthropists in those states to offer scholarship to indigent ICAN students, provide training facilities for the students, and partner with accredited tertiary institutions to enhance the quality of facilities at institutions. According to ICAN, the idea was introduced to help students with poor academic backgrounds pass the institute’s examination and further prepare them for jobs in that area. The problems, the body said, were evident in the academically backward states. Speaking on the issue, ICAN’s President Mr Doyin Owolabi said the institute conceptualised the idea to reduce skills gap in the society. He said the need to cater for the states perceived to have shortage of chartered accountants informed the decision to introduce the idea. He said Bayelsa was the first to embrace the project, noting that the idea has produced several chartered accountants who can readily fit into the system. He said many more students have passed various stages of the institute’s examinations. Owolabi said the body has, since inception, decades ago, produced 36,500 chartered accountants, and 14,500 accounting technicians, adding that more would be produced to improve accounting processes in various companies. He said the institute has about 5,000 fellows, over 15,000 associate members and close to 120,000 students on its register, and conducts examinations twice a year, adding that the body would ensure that skills gap is reduced to the barest minimum level. Also, a former management staff, Trade Bank Plc, Mr Jamiu Ekungba, said the SSP is an idea that would stimulate the growth of the

Building accountants from the scratch

• Ekungba

• Owolabi

workforce wherever it is imple emented. Ekungba said a lot of things go with being a chartered accountant, arguing that the certificate is not something that one can get on a platter of gold.

He said the fact that SSP was still on course means good hands are being produced for the job market. Ekungba said auditing is a sensitive area that requires good hands, adding that it is only accountants who know their onions that han-

dle such aspects. He said any mistake in the course of auditing the books of a company can cause a lot of problems. Ekungba said the idea would help indigent students to get jobs within and outside their localities after the

‘It is not good to look at the benefits of the programmes from the point of view of ICAN alone. It is beyond that. The students in those states are going to benefit in the long run. The reason is because they would be equip with skills that would be useful for them whether they are self-employed or in a paid employment’

completion of their programmes. ICAN is the only body empowered to determine the quality of lecturers that can teach and handle its professional examinations, noting that poor teaching materials have contributed to the failure of many people in the institute’s examination. “It is not good to look at the benefits of the programmes from the point of view of ICAN alone. It is beyond that. The students in those states are going to benefit in the long run. The reason is because they would be equipped with skills that would be useful for them whether they are self-employed or in a paid employment. The skills are not something one can acquire by reading alone. The skills must be impacted by those who are adept in the field of accounting,” he said. Former Administrative Manager, LeadWay Assurance Limited, Mr Ajibade Ajadi, said SSP would help in training and building future accountants. He said whether on a smaller or larger scale, accountants are needed. “Despite that there is huge unemployment in Nigeria, people can still get jobs. Preparation must meet opportunities. I think the students that are being trained under the SSP initiative would not find it difficult to fit into any available opportunity in the future” he said. Ajadi said ICAN has various stages, and each state requires sacrifices that would lead to better things in the future. He said it would not be hard for students who became chartered accountants through SSP to progress to fellowship category later in life. “The only thing they need to do is to secure a job after graduation, continue with their membership and upgrade themselves among other things,” he said

CAREER MANAGEMENT

EING invited to an interview means you’ve passed the first test - your application must have made a good impression. Now you need to prepare yourself for the interview to make sure you are successful at this stage.

Before your interview. Research the company If you are invited to an interview you should spend some time researching the company. This will give you confidence should you be asked any question on what the company does. It will also allow you to ask the employer questions. You could contact the company to ask for an information pack or you could look at their website. It’s helpful to find out the following things about the employer: • what they do, make or sell? • who are their customers? • what sort of organisation are they? • what is the job likely to involve? • how can you best fit your skills to match the job? Plan for the interview Find out what the interview will involve to make sure you’re prepared. If you have a disability, all employers must make reasonable adjustments for you to have an interview. If you need the employer to make particular arrangements - for example, to help you get into the building contact them before your interview. This is to make sure they can make these arrangements. You should think about who will be interviewing you. If it is the person who would be your manager if you got the job, the interview may be more detailed. If it’s the personnel manager, the interview may be less detailed but could still be as testing. Find out how many people will be interviewing you and their positions in the company. This will help you prepare for the kinds of questions they may ask. Finding out how long the interview is likely to last will give you an idea of how detailed the interview will be. You should also find out if you will have to take a test or make a presentation.

Job interview quick-guide By Olu Oyeniran

Plan your journey Consider travelling to the company the day before the interview to check how long the journey will take. If necessary, ask the employer for directions, bus routes or details of where you can park your car. You should plan another way of getting there in case something unexpected happens (such as your car breaking down, or your train being cancelled). If you have a disability, let the employer know so they can make any special arrangements. Creating the right image Deciding what to wear for the interview will depend on what sort of work you will be doing. Decide what to wear and get your clothes ready the day before. You don’t have to buy a new outfit. Aim for a neat, clean and tidy appearance, if you look good it will help you feel good. Gather together the information you’ll need at the interview Remember to take a copy of your CV or application form to refer to. Prepare notes or cue cards to help if think you might need a prompt during the interview. Take items the employer has asked you to bring along for example: references, certificates or your driving licence. Re-read the job advert to refresh your memory and to make sure you haven’t missed anything. Prepare for the questions you might be asked An employer will ask you a lot of different questions at an interview to find out about you and your skills. It is always best to prepare. Following is a list of common questions • Why do you want to work here? • Why did you leave your last job? • Have you done this kind of work before?

• What did you do in your last job? • What kinds of equipment can you use? • How long have you been out of work and how do you spend your time? • What makes you think you are the right person for this job? • Why have you had so many jobs? • Why have you only had one job? • Why should the employer take you on? • Aren’t you overqualified? • How do you get on with people? • What makes a good team member? • How do you cope with pressure? • What are your strengths and weaknesses? • What would you like to be doing in five years’ time? • What wage do you expect to earn? • How often were you absent from your last job? • When would you be available to start? • Do you have any questions? Finally Try to get a good night’s sleep. On the day before you leave Give yourself plenty of time to get ready and make sure you’ve got all the relevant paperwork with you. If you are delayed, contact the employer as soon as possible to explain, apologise and arrange another appointment. When you arrive You should aim to arrive about ten minutes before the interview time. When you arrive give your name to the receptionist or whoever is there to greet you. Try to relax and keep calm, chat to the receptionist, or whoever greets you before going into the interview. This will help calm you and remember that the interviewer can be just as nervous as you. At the interview Accept that it is natural to be nervous and that you may have a fast heartbeat, clammy hands and ‘butterflies’ in your stomach. These are your body’s natural way of meet-

ing a challenge, and in small doses it can help you. You will make an impression in the first few minutes. It takes this time for people to assess you and store this information. Once you have made a first impression, it’s hardly ever changed. It’s important to make a good first impression. If you’re nervous your voice may sound shaky and squeaky. Practise deep, slow breathing before you get to the interview. This will slowdown your heart rate and help you avoid taking quick shallow breaths. Or before you are called in, repeat “I am calm and confident. I am successful” 10-20 times or any time you feel butterfly in your tummy/rising tension. It works! After the interview • Write down some notes on the questions asked and where you thought you did well or poorly. This will help you prepare for future interviews. • Send a “thank you” letter to the interviewer(s) thanking them for their time and reminding them that you are still interested in the job. Do this within a day or two of the interview and be sure that you spell the interviewer’s name correctly! • Follow-up by contacting the organisation if you have not heard anything from them by the date that they agreed to contact you. • If you don’t get the job, consider calling the interviewer for some feedback about the interview: Did I seem adequately prepared? Was there something that I did not demonstrate? How could I do better in a future interview? • Don’t get discouraged! Interviews are about both parties finding the right fit for the job. Doing better interviews is something that can be developed through preparation and practice.

Olu Oyeniran is the Lead Consultant, EkiniConsult & Associates. Website: www.jobsearchhow.com E-mail: oluoyeniran@yahoo.com Tel 08083843230 (SMS Only).

THE NATION MONDAY, AUGUST 6, 2012

INSURANCE

Legal issues, others hamper reforms, says NAICOM T HE various reforms being embarked upon by the National Insurance Commission (NAICOM) are constrained by a poor legal framework, poor public perception and low awareness of the industry, the Commissioner for Insurance Fola Daniel, has said. Daniel, who spoke at a two-day sensitisation retreat for members of the House of Representatives Committee on Finance in Karu, Nasarawa State, said the event was aimed at providing a platform for the lawmakers to interact with practitioners to enable the former to appreciate the challenges posed by weak legal framework for the regulation and supervision of the industry. He said: “To address the constraints occasioned by poor legal framework in March 2009, the Minister of State for Finance inaugurated a committee to review all

Stories by Chuks Udo Okonta

laws and regulations relevant to insurance in Nigeria under the chairmanship of Prof Joe Irukwu. “The Committee has since submitted its report and a new insurance draft bill is being reviewed by the Federal Ministry of Finance.The draft bill is expected to be passed to the Federal Executive Council soon for onward presentation to the National Assembly.” Daniel noted that the review became necessary to have a robust legal and regulatory framework that would ensure that the sector contributes to the principal objective of the Financial System Strategy 2020 (FSS 2020) to make Nigeria Africa’s financial hub and one of

the 20 largest economies in the world by 2020; to evolve effective risk- based supervision, in the regulatory system as the existing rule-based supervision, enabled by the laws has become obsolete and, therefore, cannot drive the envisioned development of the sector. Others are the need to ensure ethical practice and international best practices as required by the International Association of Insurance Supervisors (IAIS), and the need for a legal and regulatory framework that allows the supervisory authority to deal promptly with issues evolving from the dynamism of the insurance business. The Commissioner also said: “The Bill consolidates and harmonises the various existing

legislation for effective and efficient regulation, supervision and sound insurance practice in Nigeria. The existing legal framework often creates uncertainty in underwriting processes, regulatory inconsistencies, conflict of laws, etc.” He noted that a similar retreat was held in December last year in Calabar, for members of the Senate Committee on Banking, Insurance and other Financial Institutions to apprise them of the new draft bill. Chairman, House of Representatives Committee on Finance Abdulmumin Jibrin thanked the Commission for organising the retreat, saying that the event has exposed them to the workings of the Commission. He assured the commission of the

committee’s readiness to assist it in realising its objectives and will ensure that Federal Government assets are insured. He, however, regretted the inability of members to contribute to the draft bill, saying: “It is yet to be presented to the National Assembly officially.We will, therefore, wait until it is presented to us for deliberations and passage to law. The good thing is that we are aware of it and have a background on which we could build on.” Facilitators at the retreat were drawn from the Federal Ministries of Justice and Finance; and the insurance industry. Speaking on the topic: Overview of the Insurance Consolidated Bill, Lanre Laoshe, the Chief Executive Officer, Leverage Insurance Brokers Limited, said the proposed law can drive the industry to a level where it could rank among the best in the world.

Recapitalisation: ‘IGI Pension’s licence intact’

HE Deputy Managing Director Industrial and General Insurance (IGI) Plc, Rotimi Fashola, has denied reports that its subsidiary IGI Pension Limited’s licence has been revoked because of its inability to recapitalise. In a statement, Fashola said the company actually recapitalised as required by PenCom by pooling cash and assets, which amounted to over the specified N1 billion. Fashola, said: “It is true that PenCom has sought clarifications from us on some matters, but the process of recertification is ongoing and every grey area will be resolved before the 28day deadline given by PenCom in accordance with the law. We are making representation to the commission and are of strong conviction that it will reconsider its position after listening to us.”

“It is unfair and erroneous to make the public believe that IGI PFA failed to meet the recapitalisation requirement when, in fact, the company capitalised up to N1.5 billion, plus property. This amount is N500 million above the mark set by PenCom. “For the avoidance of doubt, let me state categorically without any fear of contradiction that it is outright falsehood that our PFA licence has been revoked. Our licence is intact and we remain a leading player in the industry.” Fashola noted, however, that the commission raised some administrative issues, which the company is expected to address in 28 days. He assured their customers of the company’s commitment to serve their interests, in line with IGI’s corporate values of integrity, dependability and responsiveness.

Oasis boss lists benefits of insurance

ANAGING Director Oasis Insurance, Babatunde Oshadiya, has urged Nigerians to buy insurance policies, saying that they have alot to gain from doing so. He noted that awareness of insurance and the industry have risen compared to previous years, adding that the industry can still do well if Nigerians see insurance as an element for business continuity and longevity. He said: “It is only insurance that indemnifies loss and this has made the issue of claims settlement in insurance transaction to be important to all. What has assisted us to grow as a company over the years is our ability to professionally treat claims and thereby bringing succour to our clients. “Our strength in this aspect has continued to raise our profile as a company, at Oasis Insurance we pay and settle claims promptly,” he explained. In the first half of this year, which ended last month, Oasis Insurance settled claims worth over N228 million; N22,284,687.82 on motor insurance; N50,475,947.79 on general accident while N44,167,880.67 was paid on fire and burglary. In addition, engineering and

marine claims amounted to N24,083,161.02 and N9,833,618.15, while claims on oil and gas stood at N5,700,635.92. Expressing optimism on the remaining half of the year, Oshadiya assured that the company will continue to build on its efforts to deliver good services to the public through innovative products, modern technology and competent, highly motivated and dedicated staff. He restated the firm’s commitment to good returns on investments and enhanced service delivery. “We have remained resolute in our efforts toward profitability and unrelenting in our determination to add unequalled value to our various shareholders and customers throughout the country,”Oshadiya said. Similarly, Oasis Executive Director, Marketing, Olatunde Balogun, said the objective of the firm is to serve the public. “We are out to satisfy the needs of our customers in all segments and we will continue to ensure that insurance products and services are available and affordable to the common man on the street,” he said.

•President, Nigerian Council of Registered Insurance Brokers (NCRIB), Mrs Laide Osijo(centre) presenting ‘Insurance Brokers Recognition Award’to the Lagos State Traffic Management Authority (LASTMA), represented by its Principal Traffic Officer, Mrs Omowumi Seriki, during the July edition of NCRIB Members Evening in Lagos. With them is Managing Director, Goldlink Insurance Plc, Mr Femi Okunniyi.

Goldlink pays over N920m claims in six months G OLDLINK Insurance Plc paid over N920 million claims in the past six months, its Managing Director Femi Okunniyi, has said. He disclosed this at Brokers Forum in Lagos. He said the company paid the claims to boost the confidence of its clients. According to him, the company paid N209 million on motor; N258.3 million on fire; N80.3million on general accident and N30 million on engineering insurance.

He said the life claims were worth N316.9 million during the same period. Okunniyi said Goldlink Insurance believes in the quick settlement of claims and that it is the only way to make the insured happy and give confidence to brokers, adding: “Claim settlement remains the acid test of insurance.” He introduce the company’s online third party motor insurance and to showcase the competitive

edge his company,noting that the firm has professional staff, stateof-the-art Information Technology, good corporate governance culture, among others. He emphasised the need for harmonious business relationships to enhance the image of insurance practice. He appealed to brokers to support the Nigerian Insurance Industry Database (NIID) by providing adequate information about their businesses to evolve a database that stakeholders would be proud of.

NCRIB urges members on ethics

RESIDENT Nigerian Council of Registered Insurance Brokers (NCRIB), Mrs Laide Osijo, has called on brokers to uphold ethics of their profession. She said this at the July edition of NCRIB Members Evening in Lagos. She said the council would continue to partner with other groups to stem the activities of charlatans. She said: “In view of the need to affirm the provisions of the NCRIB Acts on registration of insurance brokers and eliminate the existence of charlatans from the insurance broking profession, NAICOM has continued to play comple-

mentary roles in this area, which is most commendable. “NAICOM has forwarded a circular to all brokers operating with its licence, but without NCRIB registration certificates to normalise their records with the council immediately. “The council has also forwarded written circulars to those affected to comply with the directive to avoid embarrassment as the council would soon publish the names of its members in some national dailies in adherence to the law.” She noted that though the NCRIB law stipulates that “enlistment of an insurance broker with the

NCRIB is a condition precedent to licensing by NAICOM”, some companies are flouting the law. Osijo noted that the council has begun empowering its area committee, adding that the council would only be able to record its expected goal of expanding the frontier of public awareness on insurance broking if the area committee and chapters, which are close to the grassroots are committed and vibrant. She called on brokers to be committed to professionalism to deepen their businesses, adding that only professionals can stand the trend in practice.

THE NATION MONDAY, AUGUST 6, 2012

LABOUR

Construction workers lament N100b govt debt to multinationals H C

HoS calls for fight against corruption

ONSTRUCTION workers are appealing to governments at all levels to pay their debts to construction com-

panies. They said the debt, which is over N100 billion, has affected major construction firms negatively, making them to cut jobs and closing shops. At a press briefing addressed by the two unions in the sector- National Union of Civil Engineering Construction, Furniture and Wood Workers (NUCECFWW) and Construction and Civil Engineering Senior Staff Association(CCESSA) last Friday in Lagos, the union leaders said they were set to hold a peaceful rally in Abuja. CCESSA President said “Governments at various levels, Federal, state and local, have not been honouring the agreements on contracts by refusing to pay for contracts that had already been executed and certified complete. As we speak now, various governments owe contractors over N100 billion. Consequently, capital projects are disrupted and contractors have moved out of site for lack of funds. Governments have also reneged on payment for cash backing projects. “The implication of this is the attendant job losses. In the last one year, about 100,000 workers have been severed from their jobs. Most of these workers were sent home by their employers without any benefits because of the debts owed them by governments.” Etafo also noted that governments’ refusal

Stories by Dupe Olaoye-Osinkolu

to settle financial obligations on contracts has made some contractors to start cutting corners which lead to project failure. President of NUCECFWW Oba Samuel Adeoye linked the escalating rate of crime to the job losses, saying insecurity will affect investments. “The job losses can also be linked with the high crime wave and insecurity as the saying goes that “An idle hand is the devil’s workshop”. This has compounded our security problems, and we know that a country that has security challenges is not investor’s first option to put down their money. Worse still, this has led to disruption of family system. Family heads are no longer able to discharge their obligation because for every one worker, there are at least 10 dependants. This leads to increase in poverty among the people. “ Many workers and employers have lost their lives as a result of this insensitivity on the part of the political leaders. Employers who borrowed at high interest rates from banks to execute projects with the hope that after completing such projects they will be able repay the loans could not honour that obligations on the loans; and as banks are on them to repay the loans, they suffer lots of sicknesses and even death. One of the construction companies just lost its managing director recently. “We are, therefore, appealing to govern-

ments at all levels, federal, state and local government, to without further delay begin payments of debts they owe contractors to save lives and jobs, develop the country and deliver dividends of democracy to the people.” On deforestation, the unions are worried at the rate at which loggers go into the bushes and forests to cut trees, including the premature ones, with impunity. This, according to them has exposed the environment to more degradation and other hazards. They said trees are natural prevention to erosion and when the trees are cut, the land will be exposed to erosion and flood. And that deforestation is also a threat to wild life and ecosystem. “One of the core issues of climate change being discussed across the world is deforestation. We should be on the same page with the world by managing our climate so as not to suffer the effects of climate change or global warming.” They, therefore, canvassed that governments at all levels should embark on programmes that encourage tree planting in their domain. Governments were also enjoined to ensure that there is adequate security at our forests and bushes to prevent further cutting of trees. “Governments at all levels should collaborate with relevant agencies and Non-Government Organisations (NGOs) to step up enlightenment campaigns Etafo on the effects of deforestation and encourage people on tree planting,” Elama said

•General Secretary, NUCECFWW, Liadi flanked by Etafo (right) and Ibrahim Abubakah at the briefing

Compensation Fund: NECA appeals to NSITF for more time

HE Nigeria Employers Consultative Association (NECA) has pleaded with the Nigeria Social Insurance Trust Fund (NSITF) over non remittance of Employees Compensation Fund by some employers. One year after the commencement of the Employee Compensation Scheme, many private sector employers are yet to register NSITF as required by the Employees’ Compensation Act (ECA). The enactment of the Employees’ Compensation Act (ECA) 2010 by the Federal Government has introduced a new dispensation in the management of compensation for employees that are injured or suffered disability in and out of employment. The scheme requires that employers pay a minimum contribution of one per cent of monthly payroll into the Fund for the first two years; thereafter, the rate of contribution will depend on the risk rating of the employer. However, only 804 employers have so far registered with the scheme as at June ending, but not all of them are complying fully in terms of remitting their contributions into the Fund.At an interactive session between NECA and NSITF las Thursday in Lagos, Director of NECA, Dr. Segun

Oshinowo appealed to the management of NSITF to reconsider the take off date for implementation of the scheme to January 2012 and write off the debt of employers who are yet to remit their contributions in 2011. Oshinowo further challenged NSITF on transparency and accountability, in the discharge of its responsibility, particularly the effective management of funds contributed by employers. He warned that employers will stop the remittance of contributions to the fund should the NSITF fail to meet the expectations for which the fund was set up.Specifically, he listed three conditions which the NSITF must meet for employers to remit their contributions into the fund. “Employers would demand from the fund performance in return for money contributed because the issue of governance had been a major problem confronting Nigeria. Therefore management efficiency and effectiveness is the key in this regard. The fund had no choice but to perform if it must get the support of employers in the implementation of the scheme. Secondly, we are demanding from NSITF good structures required for the operations of the scheme since the fund is demanding

speedy remittance of the money deducted, NSITF should on its part provide a definite timeline for payment of compensation to employers whose employees sustain injuries and apply for claims. Thirdly, there must be continuous constructive engagement of employers and this must be sustained,” Oshinowo said. NSITF Executive Director, Administration, Mr Ibrahim Wakawa, said NSITF had already met all the conditions listed by NECA. Wakawa, who acknowledged that some employers had been remitting their contributions to the fund, appealed to those who are yet to register and remit their contributions to do so for effective management of the scheme. He said though emphasis is still on voluntary compliance with the Act by employers, he however, reminded those defaulting in the payment of their contributions of the legal implications of their action.He disclosed that 11 banks have been appointed as contribution banks, from which an employer can make a choice. He listed the banks to include Skye Bank Plc, FCMB Plc, Zenith Bank, GT Bank and UBA. Others include Fidelity Bank Plc, Unity Bank Plc, First Bank Plc, Diamond Bank Plc, Enterprise Bank and Union Bank Plc.

EAD of the Civil Service of the Federation (HOCSF) Alhaji Isa Sali has called on professional bodies to join government in the fight against corruption. Sali made the call when members of the Council of the Association of National Accountants of Nigeria (ANAN), led by its President, Hajiya Maryam Ibrahim, paid him a courtesy call in Abuja last Thursday. He expressed delight with the cordial relationship existing between the two main professional accountancy bodies, ICAN and ANAN, noting that such cooperation had helped to move the profession forward. ``It is time to fight against the scourge of corruption and make it of paramount importance to members of the two professional bodies.'' On the entry point for some professional cadres in the civil service, Sali said the National Council on Establishments had resolved to re-examine the issue holistically. ``This would ensure that a unified method is adopted for all professional bodies in the country.'' Hajia Ibrahim used the opportunity to brief Sali on developments in the accountancy profession in Nigeria.

Ekiti introduces payroll to eliminate ghost workers

HE Ekiti State government said it introduced the Integrated Human Resources Payroll System to ensure that only genuine employees of the state government and pensioners were on its payroll. Commissioner for Finance and Economic Development, Mr Dapo Kolawole, told the News Agency of Nigeria (NAN) in Ado-Ekiti at the weekend, that the government's aim was contrary to the belief in some quarters that the new policy was deliberately introduced by the government to cause unnecessary delay in payment of workers' salaries. He said the introduction of the system would not only enhance timely payment of salaries but would also block fraudulent loopholes and eliminate ghost workers from government payroll. Kolawole said the new regime would also improve efficiency in the management of resources as well as ensure timely payment of stipends of pensioners. He stressed that the policy also known as epayment, would eradicate double bank charges (COT). Kolawole said government would issue monthly pay slips to all civil servants in the state Civil Service. He assured that the present challenges being faced under the system, most especially overdeduction or non-deduction of money of members of cooperative societies in the civil service would soon be resolved. Kolawole stressed that payment of the outstanding gratuities of workers, who recently retired from the state's civil service had already commenced. He said retired officers from local governments would receive their gratuities thereafter.

NUJ commences advanced computer course

HE Lagos State Council of the Nigeria Union of Journalists (NUJ) is to commence advanced computer literacy courses as part of the educational enhancement programme for its members To this end , a modern computer centre has been established at the Ladi Lawal Press Centre , the secretariat of the union in Alausa , Ikeja The Council, in a statement issued by its Chairman , Mr Deji Elumoye and Secretary , Mr Sylva Okereke at the weekend, said the first batch of 50 journalists to undergo the three-month certificated course will begin their training today, having registered for the course last Thursday. According to the duo , participants are drawn from recognised media houses in the Centre of Excellence while arrangements have also been concluded with the course lecturers towards ensuring that the lecture hours are flexible to accomodate the participants who are working journalists The statement added that at the end of the course in October the best graduating student / journalist will be presented with a complete computer set while the next set of journalists will be admitted in November.

•Ben Ainslie of Great Britain practices before starting the finn class medal race at the London 2012 Summer Olympics, Sunday, Aug. 5, 2012, in Weymouth and Portland, England. Ainslie won the gold medal, Denmark's Jonas HoghChristensen won the silver medal and France's Jonathan Lobert won the bronze medal. •Fans of Andy Murray of Great Britain cheer during his match against Roger Federer of Switzerland (whom he defeated) during the gold medal men's singles at the All England Lawn Tennis Club in Wimbledon, London at the 2012 Summer Olympics, Sunday, Aug. 5, 2012.

Monday, August 6, 2012

•LONDON, ENGLAND - AUGUST 05: Ramzy Al Duhami of Saudi Arabia riding Bayard Van De Villa There competes in the 2nd Qualifier of Individual Jumping on Day 9 of the London 2012 Olympic Games at Greenwich Park onAugust 5, 2012 in London, England.

•LONDON, ENGLAND - AUGUST 05: Long Chen of China stands with his Bronze medal on the podium following the Men's Singles Badminton Gold Medal match on Day 9 of the London 2012 Olympic Games at Wembley Arena on August 5, 2012 in London, England.

•LONDON, ENGLAND - AUGUST 05: (L-R) Silver medalist, Priscah Jeptoo of Kenya, gold medalist Tiki Gelana of Ethiopia and bronze medalist Tatyana Petrova Arkhipova of Russia pose on the podium during the medal ceremony for the Women's Marathon during the Women's Marathon on Day 9 of the •LONDON, ENGLAND - AUGUST 05: London 2012 Olympic Games on August 5, Courtnay Pilypaitis #7 of Canada drives the ball against Jenna O'Hea #4 of Australia during the Women's Basketball Preliminary Round match on Day 9 of the London 2012 Olympic Games at the Basketball Arena on August 5, 2012 in 2012 in London, England. London, England.

•LONDON, ENGLAND - AUGUST 05: Serena Williams of the United States celebrates after defeating Andrea Hlavackova and Lucie Hradecka of Czech Republic in the Women's Doubles Tennis gold medal match on Day 9 of the London 2012 Olympic Games at the All England Lawn Tennis and Croquet Club on August 5, 2012 in London, England.

THE NATION MONDAY, AUGUST 6, 2012

POLITICS

‘l have fulfilled my promise to constituents’ By Emmanuel Oladesu

KITI State House of Assembly member Evangelist Segun Erinle has ren dered his stewardship as representative of Ilejemeje Constituency, urg ing his constituents to always support the Action Congress of Nigeria (ACN). He said he has never been a bench warmer in the House, adding that he has also not failed in the critical tasks of representation, legislation and participation in oversight functions. Erinle said that he has also extended a duty of care to his constituency through his periodic empowerment programme targeted at women, needy and indigent students. As party of activities marking his one year in office as a legislator, a thanksgiving service was held at St Boniface Catholic Church, Ewu Ekiti. The service, which was attended by traditional rulers and community leaders, was officiated by Rev. Father Jude Awe. The Elewu of Ewu, Oba Bamidele Ajayi described Erinle as a good ambassador of the constituency, stressing that his activities have also brought honour to the town. Thanking God for his achievements, he urged the legislator not to relent in his developmental efforts. Ekiti State Commissioner for Sports Chief Folorunso Olabode described Erinle as an active legislator and wished him success. The legislator thanked the good people of ilejemeje for the mandate given him, noting that they have not relented in their support for his legislative activities in the last one year. Erinle said that 50 youths have been empowered in their various trades and all secondary schools in ilejemeje have been supplied with twelve years ‘Past Question and Answers in English and Mathematics’. Also, school fees of more than 500 students have been paid by the legislator. He spoke on his free medical mission, recalling that people were screen and treated for high blood pressure and diabetics. He said screening machines were donated to health centers in the local government. 50 women also received money for petty trading. The legislator said that he had participated in all the activities of the House of Assembly, which has now passed 30 bills within a year. He told the people that the eight-point agenda of Fayemi Administration is on course, assuring that there will be no limitation to dividends of democracy in Ekitiland. Erinle lauded Governor Kayode Fayemi for restoring hope and confidence in government. He said the developmental projects embarked by the administration are laudable, urging the people to support the administration. He added: “I am aware of the problems of unemployment in the local government. I promise that I will continue to work with other stakeholders in the local government to redress the problems. I give kudos to the chairman of the local government, Prince Adegoroye Bamgboye, for setting up a social benefit scheme for the elderly in the council. I also implore you to continue to support our dynamic governor, Dr. Kayode Fayemi”. •Erinle

Jonathan, Okonjo-Iweala cannot fool House, says Rep By Emmanuel Oladesu

OUSE of Representatives member Dr. Samuel Adejare, has warned that the House would carry out the threat to impeach President Goodluck Jonathan, if by September, the budget does not meet the 100 percent performance. Adejare, who spoke in Lagos, accused the Minister of Finance, Dr. Ngozi Okonjo-Iweala, of trying to fool Nigerians with her defective defense of the President. He also berated the President for shunning the House’s invitation. The federal legislator faulted Okonjo-Iweala’s claim that the budget had recorded 56 per cent performance, pointing out that it has only recorded 12.6 per cent, according to documents presented to the Senate by the Ministry of Finance. He said the impeachment threat was just the beginning of moves to change the country for the better. Adejare, who represents Agege Constituency, added: “I can assure you that the House will go ahead with the impeachment notice on the President if the target is not me. We must stop behaving as magicians in this country. You have said in the last six months, you were preparing. Is it in the next six months you would work?” Adejare, who is a member of the House Anti-corruption Committee, flayed the Presidency for hurriedly pumping money into government ministries, agencies and parastatals in the aftermath of the impeachment threat. He warned that it could lead to inflation. He disclosed that the House was aware that, as at July this year, all the revenue generating agencies for the Federal Government had generated over N3 trillion. He said: “This is just N1 trillion left of the N4 trillion 2012 budget. The revenue of the Nigerian National Petroleum Corporation (NNPC) had not been added. Yet, we planned for deficit, yet this government has taken N400 billion loan to balance the deficit. And yet, you have not released more than N400 billion out of the capital budget for the year. “Some of us believe we do not need a deficit but a surplus budget because we are generating more than we are spending and if you think it is a lie, then ask them to make it public”. Adejare maintained that the President must either perform well or allow competent people to do the job. He applauded the Speaker of the House, Aminu Tambuwal, saying that he is a very courageous man who wants the best for the country without sentiments. •Adejare

Action Congress of Nigeria (ACN) chieftain Lanre Odubote represents Epe Constituency in the House of Representatives. He spoke with Deputy Political Editor EMMANUEL OLADESU on the threat by the House to impeach the President for poor implementation of the 2012 budget.

‘House will not tolerate budget failure’ W

HAT has been your experi ence in the House in the last one year? It has been a wonderful experience being a member of the Seventh Assembly. I am happy because, whatever success this House of Representatives has achieved, I am part of that success. The experience I have gathered in the various committees I belong to, especially the Committee on Media and Publicity, has been worthwhile for me. In the last one year, I have learnt and understood how government operates at the federal level; understood more what’s called democracy, with special reference to budgeting and how budgets are implemented, which will, of course, pave the way for economic growth. So, it has been a very good experience for me. We continue learn and contribute our quota to the development and growth of the country through our activities in the House. In what way has your previous experience as a media practitioner assisted you in the discharge of your legislative activities? I was working purely as a media practitioner, but now, I am in politics fully. Working with the Speaker of Lagos House of Assembly afforded me the opportunity to interact and mingle with politicians of repute, which revived my political instincts. But that cannot be compared with now when I I am now fully involved. I have been involved in politics since the days of the defunct Social Democratic Party (SDP), but working with the Speaker as his media spokesman enriched my political instincts, which of course, paved the way for my present assignment. When you were elected into the House of Representatives, what was the major challenge you face? The major challenge has been the issue of budgeting. We are representatives of the people, hence, there is the challenge to make the budget presented by the executive to be peoplefriendly and for someone like me, who is just coming to the House for the first time, one needs to learn and interact with more experienced colleagues, particularly in the area of making the budget provides for the people of my constituency. But thank God, we have been able to surmount that. What is your reaction to the recent subsidy probe bribery involving Farouk Lawan and businessman Femi Otedola? I stand by the decision of the House to investigate the matter. The two people involved have been invited by

• Odubote

the committee investigating the matter and you are all living witnesses to how Otedola behaved when he appeared before the committee. It is clear that Otedola does not want to cooperate with the committee mandated by the House to investigate the matter. I don’t have anything to say more on that, but whatever the House decides after the conclusion of the committee’s assignment is what I will stand by. For now, let’s just leave it at that. Many Nigerians believe that the bribery matter was raised as a ploy to kill the subsidy report. What is your reaction to this? That one is now left for the society at large, especially the media, to examine critically. We are talking of missing trillions of Naira in the name of subsidy payment and the need to establish the truth. The House has taken steps to investigate the matter through a committee which has completed its assignment and submitted a report, but the chairman of the committee is being accused of taking bribe in a sting operation. Remember this sting operation took place about two months before it was made know to the public. The general practice all over the world is that security agents are involved in sting operations and the culprit is arrested immediately at the scene of the event. What we have here is that sting operation took place in April and it was made public in June with the alleged principal suspect not arrested in April and at the scene of the event. Let the general public decide on this and whether this can be used as an alibi to kill the subsidy report. Why is the House always at loggerheads with the President? Many have forgotten the fact that the major function of the House of Representatives, which is very fundamental, is to make law. Now, if we have made

the law and the law is not obeyed, then the law is being violated. I said earlier on that we are the elected representatives of the people and we duly make law for how the people’s money should be spent. It becomes imperative for us to monitor how this money is being spent as part of our over sight function. Suffice to add that, if we found out that public money is being used for other purposes, except those ones we approved of, we will take action to protect the people’s money and this is what we have done here. We need infrastructural reinvigoration, yet the government is doing as if everything is right. Look at the roads, they are bad. There is nothing wrong for us travelling by road every weekend to Lagos, but the roads are bad. The airports are nothing to write about. Yet, we appropriated money for capital projects. What have they done with it? We need to ask question and that is why we are asking the President to do his job, which is to implement the budget. The recent invitation of the President by the House generated controversy. Why? It was also related to the Appropriation Act. We appropriated huge sum of money for security, yet people are dying and the security situation in the country continues to deteriorate. So, as the representatives of the people, we invited the President to come and explain to us what he is doing to improve the situation. At least, as the people’s representatives, we need to hear from the President for us to explain to our people. So, there is no big deal in inviting the President because we have the constitutional right to do so. So, what is the big deal about this invitation? Remember the President once invited us to Aso Rock and we all went. Why are they crying over our own invitation? All we want to do is to discuss with him on how we will move this country and improve the security situation. If he feels somehow about this, good luck to him. How would you describe the performance of the House in the last one year? Have you have this type of House since the commencement of this democracy? This Seventh Assembly is very unique; a House that anchors its uniqueness on unity. I am proud to be a member of this House because, in the last one year, we have been able to perform our duty with sincerity of purpose and unity of mind. There is no discrimination and we all relate like brothers and sisters.

•Anambra State Governor Peter Obi discussing with the officials of CCC Construction Firm during the inspection of the Onitsha Bridge Head/Upper Iweka Five-Carriage Road Project... yesterday

THE NATION MONDAY, AUGUST 6, 2012

MOTORING

Southern states to fund Stallion partners Apollo Tyres West-East rail construction A W PPOLLO Tyres has formally launched its product range in the Nigerian mar-

ket. The foremost tyre company has also appointed Stallion Group as its representative in Nigeria. The Chief Executive Officer of Apollo Tyres of South Africa, Dr. Louis Ceneviz, who spoke at the launching in Lagos, recently, explained that the company has an annual turnover of $2.5 billion. Established in India more than three and half decades ago, the Apollo brand, according to Ceneviz, has plants in three continents – Africa, Asia and Europe with nine technologically advanced plants in various locations – (two in South Africa, two in Zimbabwe, four in India and one in the Netherlands). He described its foray into the Nigerian market “as the beginning of an exciting journey that will enable Apollo Tyre usher ultra high performance products that are suit-

By Tajudeen Adebanjo

able for speeds of up to 300km per hour. “We believe offering the right product to the right customer is essential. That is why we developed niche applications within a larger category to enable the provision of efficient fuel and cost saving products for each product segment,” he said. Apollo Tyres currently produces 400, 000 metric tonnes of tyres across all automotive categories yearly with exports to more than 70 market destinations worldwide. He explained that Apollo adheres to stringent international regulations, adding that “our products emphasis safety – a criterion that has afforded Apollo long standing relationships with Audi, Fiat, General Motors, Hyundai, Mahindra & Mahindra, Suzuki, Mercedes Benz, Mitsubishi, Tata, Volkswagen, Ashok Leyland and Eicher.”

Apollo tyres recently celebrated the production of its millionth truck/bus radial tyre with tyre mix including ultra and high-speed tyres, light truck and Sports Utility Vehicles (SUV) tyres with truck-bus coach tyres, industrial applications such as mining and agricultural tyres. Information made available added that Apollo Tyres had broken new grounds, “especially in 2006 when it acquired Dunlop Tyres (Pty) South Africa – a leading South African tyre brand and the Netherland Vredestein tyre that was bought over in 2009”. Head of marketing, Tyre Division, Stallion Group, Mr. Pinaki Sarkar, in his submission said Stallion is proud to be associated with a “leading brand such as Apollo Tyres”, adding that the product would soon become the toast of motorists, haulage concerns and industrial plants.

TNL cautions motorists on imported vehicles

OYOTA Nigeria Limited, (TNL) has urged its customers against use of “grey” imported vehicles. TNL said they are prone to unrepairable breakdowns. The vehicles, according to Toyota run the risk of failing when it requires a major repair. Managing Director of TNL, Mr Chandra Thampy, said the company does not have the facility to take care of problems that may arise from such vehicles. Although the auto firm recently unveiled the all-new Avenza in Lagos with a three-year warranty, Thampy said that the spare parts that came with the Avenza would not work for the Venza. He further said any Venza found in Nigeria was not built for the nation’s road and environment, and it could be prone to frequent breakdowns. He said, unlike the Avenza, which the TNL was duly authorised to bring in and support with enough spare

By Tajudeen Adebanjo

parts and other technical services the Venza would be difficult to handle and since they were not tropicalised. “We don’t like to bring in vehicles not approved for our market because of the implications on after-sales service,” he said. Thampy also spoke on the new vehicle business for the first half of the year, which he said was better than last year, stressed that the company recorded about 10 per cent increase in sales in the first six months of the year, adding that the Corolla contributed significantly to the rise. Although he did not give a breakdown of the performance of each Toyota model sold during the period under review, the TNL boss said the commercial vehicles did better than the passenger cars. Speaking on the per-

Auto dealers union gets new exco By Emmanuel Oladesu

UTO Spare Parts and Machinery Dealers Association (ASPMDA), Lagos International Trade Fair complex, has held its general elections. Announcing the results, chairman of the Independent Electoral Committee, Hon. Joseph Okeke, said “Out of 1,973 total valid votes cast, the incumbent President, Chief Anthony Ughagwu and his vice, Dr. Chukwudi Nzewi polled 1,823 to win the presidency and returned elected”. The list of certified result sheet made available to journalists by the electoral body showed further that incumbent General Secretary, Hon. Okwudili Chukwuma and his vice, Hon. Leo Okoye raked a total of 1,424 out of the 2,040 valid votes. While the incumbent treasurer, Hon. Samson Onwunali polled a total of 1,627 out of 2,028 valid votes, serving Hon. Linus Uzochukwu (Laskey) and his vice, Hon. Chibuike Osuagwu edged out their opponents with 1,511 votes out of the 2,017 valid votes. According to the certified results sheet, serving Public Relations Officer, Hon. Bonaventure Ozobugha and his assistant, Hon. John Edene polled 1,527 votes out of the valid 2,004 to retain their positions in the executive council of ASPMDA. Also, the incumbent Chief Welfare Officer, Hon. Paul Nriagu polled 1,452 out of the 1,976 valid votes to retain his office, as serving Provost, Hon. Bethy Melete and his vice, Hon. Eric Iwuchukwu polled the whole 1,727 valid votes to become members of the new executives. Additional details show that swearing in of the new executive council will take place at the ASPMDA hall as soon as possible. Addressing the press shortly after the announcement of the results, re-elected chief executive of the largest auto spare parts trading plaza in sub-Saharan Africa with investments in excess of N500 billion, Chief Ughagwu said “ASPMDA has further confirmed his executive’s sustainable development and management of their resources in a way and manner that befits both the complex and traders welfare”. He therefore, thanked every member of the trading association, the Nigeria Police, the media and customers who worked for the conduct of the free, fair and credible election.

formance of new vehicles recently introduced into the Nigeria market, such as the Fortuner, Camry and Venza, he said they were doing well and have been accepted by Nigerians. Besides, Tharmpy recognised the efforts of other auto distributors/dealers and local manufacturer in the country’s rising automobile profile, but stressed that Toyota Nigeria would remain a leader for a long time.

OPE for a Lagos to Calabar rail line, considered the most viable transport network in the country, was raised as Commissioners for Transport from 17 states of the South-West, South-East and South-South met in Calabar recently. The meeting discussed the construction of the rail line, also known as the West-East Railway. The meeting which was convened by the BRACED Commission was attended by Commissioners for Transport, Special Advisers and senior transport officials from the Southern States. BRACED is an acronym for Bayelsa, Rivers, Akwa Ibm, Cross River, Edo and Delta. According to the Director-General of the Commission, Ambassador Joe Keshi, the meeting was convened against the backdrop of the conclusions of the last two SouthSouth Economic Summits during which the need for the expansion of the national rail network in the country to include the West-East rail line from Lagos to Calabar was emphasised. The Lagos-Calabar rail will traverse the south-west, southeast and the south-south. Such a rail line, it was disclosed, will equally meet the aspirations of the south-west which had also indicated the desire to build a rail line connecting the region. It was however revealed at the meeting that linking the south-west aspiration to a rail line that runs through south-east to the south-west remained the most viable, profitable

By Tajudeen Adebanjo

and sustainable railway route in the country. This followed an axle road study conducted by the Federal Ministry of Transport in 2008 which showed that the highest road traffic in Nigeria was between the east and the west, thereby justifying the establishment of the east-west rail line. A communiqué issued after the meeting which was also attended by railway experts, representatives of the Federal Ministry of Transport and the Niger Delta Development Commission (NDDC), the meeting recognised the importance of expanding railway development in Nigeria to include the West-East rail line as part of the national development agenda to improve mass transportation in Nigeria. It noted that the west-east railways, traversing three zones and seventeen states was the most viable, profitable and sustainable rail line in the national rail network and would change the economic dynamics of the concerned regions when constructed. Noting that Nigeria’s vision 20:2020 aspirations could be seriously hampered without a modern transportation system which includes the railways, the communiqué called on the Federal Government to create the enabling environment that will encourage private sector investment in railways development in Nigeria and urged the 17 southern Governors to open up urgent dialogue with the Federal Government on the necessity to include the east-west railway in the national railway development agenda.

THE NATION MONDAY, AUGUST 6, 2012

DISCOURSE ample in Niger State, we adopted the Servant Leadership style, where a servant leader perceives his role as a humble employee, a servant of the people, a steward who forfeits his personal interest and more genuinely concerned with the welfare and development of others. He is more concerned with the greatest good for the greatest number. The guiding principle for me as servant leader is ‘selflessness’, “God first, others next, and I last”. Indeed, servant leadership is more concerned with excellent service delivery in the most humble and unassuming manner.

Nigeria’s unity and regional groups:

Influence and impact of Northern Governors’ Forum Text of the address by the Chieft Servant, Dr. Mu’azu Babangida Aliyu (Talban Minna), the Governor of Niger State and Chairman, Northern States Governors’ Forum, at the Royal Institute of International Affairs, Chatham House, London; on July 10.

Lessons from Niger State

• Continued from last Friday

Socio-political challenges We have our peculiar problems and challenges; a fundamental one being leadership deficit. There is a gap of committed leadership; leadership that understands the nuances of governance and that which is conscious of the sensibilities of the political environment. Leadership deficit has over the years exposed Nigeria to high-level of corruption, bad governance, political instability and a cyclical legitimacy crisis. Consequently, national development is retarded and the political environment uncertain. This problem started at independence with. That era was rather characterized by very powerful regional governments and a weak centre with each region striving to ensure qualitative, competitive and pragmatic leadership and service delivery. All these resulted in poor planning, which exacerbated corruption, poverty and declining national interest.

Security Security is a fundamental and foremost responsibility of government as enshrined in section 14 subsection (2) of the 1999 Constitution which states that; “the security and welfare of the people shall be the primary purpose of government”. It is however sad to note that ignorance and poor education in the region has contributed extremely to the security challenge, because a poorly educated youth would only be a ready tool for violence. Therefore, corruption, youth unemployment, endemic poverty, lopsided development, human rights violation, influx of refugees and precarious and monolithic economy has scaled up security challenges in the region in particular and the nation in general. No matter the role of the region, the states are constrained as they do not control the security. Hence, they are handicapped in the maximisation of the security apparatus that are largely federal and takes instructions only from the federal authority. Meanwhile, a major source of security concern is lopsided Federalism where over 88 items are on the exclusive list and only 16 in the concurrent list there by encouraging corruption, inefficiency and retarded growth at the state and local government levels where majority of the people lives. Before the sharp decline in the value system of honesty, truthfulness, integrity, reliability and consistency that Northerners were known for hospitality and indeed traits of brother’s keepers where people provided cover for their neighbours. This is what we are encouraging ourselves to do in across the Northern States in particular and Nigeria in general. For example in Niger State, everybody has equal opportunities to in business, civil service employment and benefitting from the state government free education policy. In Niger we do not discriminate, but make sure we uphold the doctrine of preaching against indigene/settler syndrome. The practice of isolating settlers has led to violent attacks which has accounted for the death of many innocent Nigerians.

Nigeria: A historical reflection Distinguished audience, a journey down memory lane, focusing on how the present day Nigeria evolved would further enrich this interaction. As it is widely held, a nation that forgets her past indirectly jeopardizes its future. Nigeria is a country of diverse population of over 160million with over 350 ethnic and linguistic groups. Several religious sects mutate in Nigeria into denominations, with the three principal ones being Christianity, Islam and traditional divinity. The story about the creation of the entity called Nigeria began about 115 years ago, precisely on January 8, 1897 when one Miss Flora Shaw (as she was then known and addressed), was Colonial Editor for the famous newspaper, Times of London. Flora Louisa Shaw was born in Woolwich where her fa-

ther was stationed. She began her career in journalism in 1886 and was sent by the Manchester Guardian newspaper as the only woman reporter to cover the Anti-Slavery Conference in Brussels. In one of the many essays she wrote during her journalism expedition which first appeared in The Times on 8 January 1897, she suggested the name “Nigeria” (Niger area) for the British Protectorate on the Niger River. In her essay, Shaw was making a case for a shorter term that would be used for the “agglomeration of pagan and Mahomedan States” that was functioning under the official title, “Royal Niger Company Territories”. Five years after she suggested the name “Nigeria”, she got married to Lord Frederick Lugard in 1902. Lugard was made Governor of Northern and Southern protectorates in 1912 and presided over the amalgamation of the two protectorates in 1914 with Administrative Headquarters in the historic town of Zungeru in Niger State. Flora died in January 1929, and 16years later, Lord Lugard died in 1945 at the age of 87years. In effect, Nigeria as a geographical entity came into existence about 98 years ago. Exactly fifty two years ago on October 1, 1960, it became an independent state assuming responsibility for management of its social, political, legal and economic affairs. We must therefore understand that having evolved through various stages in our nationhood the drive for sustaining unity in our diversity has been the single challenge facing the country since independence.

Regional and national unity Nigeria as a multi-ethnic nation state with rich heritage of socio-cultural diversities, the multiplicity in language and culture across the thirty-six (36) states of Nigeria has made it easy for regional groupings to establish themselves for the purpose of identifying with one another and pursuing peculiar developmental interests. This phenomenon has been particularly strengthened by the role of language as a potent instrument for preserving and transmitting the people’s social norms and values. The social regional groups in perspective may be traced to the pre-colonial configurations of the geographical territory known as Nigeria today. The formation of these social groups have been greatly influenced by ethnic and cultural ties and affinities that existed amongst the people who shared common ancestry or who have been linked by social values and cultural traits, tribe, religion, commerce, friendly relationships or conflicts even before the colonial era. This is indeed the reflection of the plurality of the Nigerian society where diversity in culture, tribes and ethnicity with attendant connectivity is characterized by shared understanding and aspiration. The earliest dominant groups were identified along the Northern and Southern divides of Nigeria, reflecting the amalgamation of 1914. Today, further sub- groups have emerged along the six (6) geo-political regions of the nation [North West, North

•Dr. Aliyu

East, North Central, South East, South-South and South West]. The notable groups that have emerged in this regard include: Northern States Governors’ Forum, South-South Governors’ Forum, South East Governors’ Forum and the South-West Governors’ Forum. Other prominent socio-cultural and sociopolitical regional groups include: Arewa Consultative Forum, Ohaneze Ndigbo and Afenifere, as well as a multiple number of regional youth associations. The Northern States Governors’ Forum (NSGF) is the largest of the regional social groups in Nigeria today, comprising 19 Northern States. We have indeed paid our dues as a nation. The 1966 military coup had far reaching implications for the stability of democracy in the country as it introduced some trends that were antithetical to development, such as the suspension of the Constitution, the introduction of unitary system of government (the federal government became stronger than the federating units), the arbitrary creation of States (three regions in 1960- colonial era, 12 States in 1967-Gowon’s government, 19 States in 1976 –late Murtala’s government, 21 and 30 States in 1987 and 1991 respectively by Babangida’s government, and 36 States in 1996 by late Abacha’s administration). Other consequences of the military incursion are the surge in the cost of running government with the attendant manifestation of greed and excessive corruption in the political process and the destruction of the ethos of the public service. However, the military organised or supervised three elections during their periods of dictatorship. These were (i) the elections of 1979 that brought Alhaji Shehu Shagari, under the General Obasanjo regime, (ii) the 1992-1993 elections under General Babangida and (iii) the 1999 elections under General Abdusalami Abubakar. Indeed, Nigerians needs to learn from great world leaders on account of purposeful leadership characterised with reformation, transformation and rehabilitation of the people, economy and society. To get the nation out of the leadership challenge, we need to adopt the servant leadership doctrine. The concept of servant leadership style of government therefore reflects institutionalised transparency, selfless approach to service, accountability and participatory democracy. We must stress the need for servant leadership based on stewardship, commitment to masses welfare and development. For ex-

Security is a fundamental and foremost responsibility of government as enshrined in section 14 subsection (2) of the 1999 Constitution which states that; “the security and welfare of the people shall be the primary purpose of government”. It is however sad to note that ignorance and poor education in the region has contributed extremely to the security challenge, because a poorly educated youth would only be a ready tool for violence. Therefore, corruption, youth unemployment, endemic poverty, lopsided development, human rights violation, influx of refugees and precarious and monolithic economy has scaled up security challenges in the region in particular and the nation in general

Finally, in practical demonstration of Servant Leadership concept, in Niger State, we introduced a fourth tier of government at the grass roots level, the Ward development project concept established with a law and order implementation module structure, where the people are supported with monthly grants in all the 274 political wards across the 25 LGAs to initiate and execute projects that meet their needs and aspirations. We have also made education free which is paying off in the State. When we came in 2007, the school enrolment was about 613, 000 while by 2011 it rose to 1.3million, a significant upsurge. Our free NECO/WAEC examinations policy is assisting indigent students in Niger State (irrespective of their State of origin) to write final secondary school examinations to gain admission into higher institutions of learning. In the Agricultural sector, strategic reforms are being carried out to arrest the decline in agricultural contributions to the nation’s Gross Domestic Product (GDP) in the past three decades due to dependence on the oil sector. We have the comparative advantage of the largest landmass of 10% of Nigeria’s 80% arable landmass we have comparative advantage in rice production as the largest rice producer in Nigeria and potentials for export. Our strength in rice production ranks Niger state top in the country with production capacity to feed the whole Nigeria. Our annual economic growth rate stands at 3.4 percent as at 2011 higher than the Federal Government of Nigeria benchmark of 3.2 per cent. It is therefore heart-warming to report that Niger state ranked lowest in poverty prevalence index in Nigeria by the records of the Nigeria Bureau of Statistics closely followed by Osun state in the Southwest region. Other areas of comparative advantage in Niger State include abundance of solid minerals and the State is currently on exploration survey for hydro carbon in the Bida basin. Niger state is also rich in tourism potentials with a variety of tourist sites. The potentials in tourism in Niger state meet world class standards waiting to be exploited. Niger state is also home to three hydropower dams located in Kainji, Shiroro and Jebba, contributing immensely to power generation and supply in Nigeria.

Conclusion From the foregoing discourse on the activities of the Nigeria Northern States Governors Forum in fostering unity and progress in the northern region in particular and the country as a whole, we are confident in our effort to overcome most challenges confronting us as a nation. We have resolved to match our words with action by the standard we have so far set in terms of good governance and human capital development. Indeed our successors would have a smooth sail in evolving programmes that will meet the yearnings and aspirations of Nigerians. Therefore, like the civil war this will also come to pass. Distinguished audience, ladies and gentlemen, the prolong ill-health of late President Umaru Musa Yar’adua in 2010 posed serious security problem on account of unprecedented crisis that came with it. Similar circumstance played itself out during the era of late General Sani Abacha, where few self-seeking politicians created artificial vacuum to manage affairs of State, thereby giving the impression that the General was in charge. It is heart-warming that the NSGF handled the politicisation of late Yar’adua’s illness with utmost caution, maturity and patriotism in the overall interest of the nation. To get the nation out of the leadership challenge, we need to adopt the servant leadership doctrine. We must stress the need for servant leadership based on stewardship, commitment to masses welfare and development. We have been raising standards for best practise in governance in Nigeria going the extra miles in making Nigeria’s emerging democracy a success. I thank you all for the opportunity.

THE NATION MONDAY, AUGUST 6, 2012

DISCOURSE Text of a paper delivered by Chief Wole Olanipekun, SAN, FCIarb, during the 50th anniversary celebration of the Faculty of Law, University of Lagos (UNILAG) on July 26, 2012, in the school’s auditorium

Challenges to governance in emerging democracies Prefatory remarks

Y a letter dated May 31, 2012, written and signed by the distinguished Dean of the Faculty of Law, University of Lagos, I was ‘conscripted’ as a special Guest Lecturer to present this paper on the given topic “Challenges to Governance in Emerging Democracies” to mark the 50th Anniversary of this respected, admired, esteemed, revered, valued and universally acclaimed and applauded Faculty. It gives me great pleasure to have been considered worthy, not only to share in the joy of the celebration of the 50th Year Anniversary of our great alma mater which climaxes in today’s lecture, but also in having been considered suitable to deliver this Special Lecture. I have always said that the Faculty of Law, University of Lagos is the leading Faculty where law is taught and researched in Nigeria. The Faculty, since inception in 1962, has no doubt, grown in leaps and bounds and contributed enormously to the growth of the Legal Profession in particular and the development of our country in general. This is so because this Faculty has produced legal luminaries, jurists, accomplished and acclaimed academics, each of whom has undoubtedly become a shining symbol in the legal profession and whose accomplishments transcend the borders of this country. Before delving into the theme of the lecture, permit me to peep into the history of our dear University, the University of Lagos, (UNILAG). The University of Lagos was established by an Act of Parliament in April, 1962. To (re)state the obvious, section 1 of the Act states that: “There is hereby established a University to be known as the University of Lagos….” The idea of the University of Lagos was contained in the Report of the Ashby Commission on Post-School Certificate and Higher Education in Nigeria and the subsequent report of the Advisory Commission of the UNESCO for the establishment of the University presented to the Government in September, 1960. Its development was planned to take place in three phases. The first phase began in October 1962 with the establishment of the Faculty of Business and Social Studies, the Faculty of Law and a Medical School which was conceived at the outset as an autonomous unit of the University and linked with a Teaching Hospital (LUTH). The second phase began in October, 1964 with the establishment of the Faculty of Engineering, the Schools of African and Asian Studies, Humanities, Biological Sciences, Mathematical and Physical Sciences, the College of Education, Continuing Education Centre (CEC), the Institute of Mass Communication and the Comparative Education Study and Adaptation Centre (CESAC). The third phase of the University’s development was interrupted somewhat by the University crisis of 1965 followed by the civil war of 1967-1970. In April, 1967, however, the Medical School officially became College of Medicine while the Faculty of Business and Social Studies was divided into the School of Administration and the School of Social Studies. By October 1971, the University comprised two Faculties: Engineering and Law, seven schools including that of Environmental Design; two Colleges: Medicine and Education; three Institutes, including those of Computer Sciences and Child Health, and two Centres: CEC and CESAC. In an attempt to maximize the utilization of available manpower, and further encourage interdisciplinary cooperation, a restructuring of the teaching units was undertaken between 1972 and 1975. By 1976 the Faculties of Arts, Business Administration, Environmental Design, Science and Social Sciences had emerged from the existing Schools in addition to the two Faculties (Engineering and Law) which remained unaffected by the general structural changes since their establishment. The College of Education had become a Faculty while the College of Medicine retained both its name and its autonomy. The Centre for Cultural Studies was created in 1973/75 and the Institute of Edu Since its establishment in 1962, the University has grown and developed remarkably. From a modest intake of 131 students for the entire University in 1962, student enrolment has increased and risen to about 26,000. The College of Medicine which was incorporated as part of the University of Lagos in 1967 as a body corporate with perpetual succession and a common seal has also grown considerably. In October, 1962 the College admitted only 28 students and to date has produced over 6,000 graduates in disciplines of medicine, dentistry, pharmacy, microbiology, physiotherapy, physiology and

pharmacology, among others. Unarguably, the University of Lagos was and remains the first University in Nigeria to be established by an Act of the Federal Parliament, to wit: the University of Lagos Act No. 1 of 1962, which unequivocally provides in its title thus: “An Act to constitute a University for Lagos, to make provision for sundry councils thereof, and to confer upon them certain duties and powers, and to provide for matters ancillary thereto or connected therewith.” Section 1(1) of the Act provides thus: “There shall be ..... a University to be known as the University of Lagos (in this Act referred to as ‘the University’) to provide courses of instruction and learning in the Faculties of Arts, Law, Medicine, Science, Education, Commerce and Business Administration, Engineering and any other faculties which may from time to time be approved under this Act.” There is no gainsaying the fact that the University has over the past 50 years attracted unquantifiable and immense positive attributes, values and even passions to itself. Put succinctly and without any fear of contradiction, it has become a universal brand, which commands respect, acceptability, ovation and commendation in every nook and cranny of the world, whether amongst past and present students, staff, stakeholders, fans, parents, academics of all shades and disciplines, politicians etc. In the words of Chief Lugard E. Aimiuwu, OON, a leading alumnus and a past President of the Alumni Association in his letter dated 2nd June, 2012 to President Goodluck Jonathan titled “Moving Nigeria forward from the mis-step of the UNILAG re-naming attempt,” “But UNILAG is fully, consciously and deliberately developed GLOBAL BRAND, with 50 years of continuous investment. It is a name developed with strategic vision, and for specific target market. The local and global market has accepted it as a distinctive platform for EXCELLENCE in EDUCATION ... A university is a university ... unless of course that university happens to be UNILAG, a BRAND that parents, teachers, students, other universities (both foreign and local), employers and the general public have tested, tried, accepted, TRUSTED, and patronized for over 50 years! A brand so well regarded that it consistently has been first choice amongst students, parents, teachers, employers ....” Although, I am not making any fuss on the attempted name change of our beloved University in this lecture, as the matter is now subjudice, considering the pendency of suit Nos. FHC/IKJ/CS/130/2012 and FHC/IKJ/CS/ 131/2012 respectively instituted by the students and Alumni Association at the Federal High Court, Ikeja and on which there is a subsisting order that all parties should protect and maintain the status quo ante bellum, however, we must not lose sight of the fact that as a result of our well groomed culture of decency and respect for the Rule of Law, we chose both the Rule of Law option, as well as dialoguing channel to redress the clear and patent wrong done to us and to our collective psyche, as well as pride by the attempt. We truly and genuinely have a goodly heritage and I believe that the Psalmist had us in mind, amongst others, when he enthused in Psalm 16:6 that “The lines are falling upon me in pleasant places: Yea, I have a goodly heritage.” Now to our own ‘constituency’, the Faculty of Law. The Faculty of Law is one of the foundation teaching units of the University. Teaching in the Faculty started in 1962, with an academic staff of five persons, which included the renowned Professors LCB Gower and Teslim Elias, the successive pioneering Deans. Academic activities commenced with twenty-six full-time students, who started a three-year LL.B (Bachelor of Laws) Degree Programme. Since its inception, the Faculty has been going through various but progressive stages of evolution, involving several changes in the curriculum and administrative structure. The Fac-

ulty is presently structured into four departments, which are the Departments of Commercial and Industrial Law, Jurisprudence and International Law, Private and Property Law and Public Law. These departments are staffed by 50 eminent scholars, under the leadership of 11 professors, all of whom are distinguished in their own rights. The Faculty boasts of the richest academic curriculum in the country today due to the vast and versatile experience and strength of its academic staff. Presently, the Faculty offers about 35 modules/subjects to its students at the undergraduate level. The Faculty’s Masters of Law (LLM) and Masters in International Law and Diplomacy (MILD) programmes have also become one of the most sought after academic qualifications in Nigeria today. I would not have done justice to this segment of the lecture without saying a few things about the Faculty’s continuing legacy. Law students of the University of Lagos have always been envied for having the first-hand advantage of being taught by those revered Professors and lecturers, some of whom include, Professors LCB Gower, Teslim Elias, A.A Adeogun, Adedokun Adeyemi, Akintunde Obilade, Jelili Omotola, O. Akanki, A.B. Kasumu, M.I Jegede, C.O Olawoye, M.A. Ojomo, Karibi-Whyte, Oluwole Agbede, G. A. Olawoyin, SAN and Abiola Ojo, to mention a few. These are some of the giants on whose shoulders the Faculty stands tall and sees far today. However, with apologies to John of Salisbury, our case is not one of ‘dwarfs standing on the shoulders of giants,’ but of giants standing on the shoulders of giants. The emerging body of giants include our Professors Oyelowo Oyewo, Taiwo Osipitan, SAN, Yemi Osibajo, SAN, C.K Agomo, Peter Fogam, Ayodele Atsenuwa, Oluwole Smith, SAN, Akin Oyebode, Akin Ibidapo-Obe, and I. Bolodeoku. The Faculty’s legacy is not only a function of its academic staff, but also that of its many illustrious students that are churned out to excel on a yearly basis. The Faculty has the outstanding record of having produced a record number of over 50 Senior Advocates of Nigeria, judges of the appellate and high courts and several other accomplished legal practitioners and scholars. Niki Tobi and Pius Aderemi, both retired Justices of the Supreme Court are amongst the high flyers of the distinguished alumni of this Faculty. Bode Rhodes-Vivour, a serving Justice of the Supreme Court is also one of them. Be it noted that the two cases earlier mentioned in the challenge to the attempted change of name are being handled pro-bono by some alumni of this Faculty, including 14 Senior Advocates of Nigeria. There is no doubt that the Faculty of Law, University of Lagos has built and sustained a legacy of excellence. Notwithstanding the declining standard of education in Nigeria, the Faculty of Law has over the past 50 years succeeded in building and distinguishing a brand associated with qualitative legal education and research.

THE TOPIC In examining the key terms of this lecture, I will endeavour to use a liberal and simplistic, but practical, approach. Borrowing the words of Paul of Tarsus, the first-century theologian, I shall speak with ‘great plainness of speech.’ It is commonplace to hear most social pundits conclude that the problem of Nigeria is that of governance. Now, we are to examine here, what the challenges to governance are. In my own understanding therefore, we are here to talk about how the state or government can be transformed into an effective means of promoting good governance. Indeed, the very essence of governance and government is power. Power is the ability to influence and control circumstances. I will say that it is also the ability to create solutions; solutions to issues of crime, disease, economic instability, infrastructure and poverty amongst others. Therefore, the purpose of people all over the world yielding their sovereignty to governments is the mandate to solve their problems. While there are problems

There is no gainsaying the fact that the University has over the past 50 years attracted unquantifiable and immense positive attributes, values and even passions to itself. Put succinctly and without any fear of contradiction, it has become a universal brand, which commands respect, acceptability, ovation and commendation in every nook and cranny of the world, whether amongst past and present students, staff, stakeholders, fans, parents, academics of all shades and disciplines, politicians etc

• Chief Olanipekun

plaguing different parts of the world today, it appears that those parts of the world that have struggled to cope with solving their problems have been decorated with such prefixes as ‘underdeveloped,’ ‘developing,’ ‘third-world’, and ‘emerging’. Invariably, such nations have failed to overcome the challenges of governance. Empirical studies have shown that good governance is tied inextricably to development. My methodology for the topic is therefore within the context of problems and solutions. I will give an overview of the principles of governance, the challenges and way forward. I will seek your leave to accommodate my seeming ‘immodesty’, as I will make constant references to comments I have made elsewhere in the course of this lecture. This critical topic happens to be one that I have had cause to speak on severally, although I am so doing today from a fresh perspective. The topic, “Challenges to Governance in Emerging Democracies,” contains some key concepts, which we shall now turn our attention to.

Conceptual definitions of key terms Governance The word ‘governance’ is derived from the Greek verb [kubernáo] which means to steer and was used for the first time in a metaphorical sense by Plato. It then passed on to Latin and then on to many languages. The word ‘governance’ also derives from the word govern which has been defined by Webster’s Comprehensive Dictionary of the English Language, as follows: “To rule or control by right or authority, to control or influence morally or physically, direct.” The same Webster’s Dictionary of the English Language defines governance as the “exercise of authority; direction control; manner of system of government or regulation.” According to the United States Development Programme (UNDP), governance is the exercise of economic, political and administrative authority to manage a country’s affairs at all levels. It comprises the mechanisms, processes and institutions, through which citizens can articulate their interests, exercise their legal rights, meet their obligations and mediate their differences. In a recent World Bank Study, governance is defined as ‘the traditions and institutions by which authority in a country is exercised.’ This includes the processes by which governments are selected, monitored and replaced, and the capacity of the state to effectively formulate and implement policies. The term ‘governance’ can also be described as the process by which decisions are arrived at and implemented. Over the years, it has been used in several contexts such as ‘corporate governance’, ‘international governance, ‘security governance’, ‘political governance’ etc. For the purpose of analysis, governance can be seen in three broad senses – political governance, social governance and economic governance. Political governance is the means through which a society reaches consensus and implements regulations, laws and policies. Economic governance refers to the architecture for national and international economic activities, including processes to manage the production of goods and services. Social governance is the set of norms, values and beliefs that guide society’s decisions and behaviours. From the foregoing definitions and explanations of the term ‘governance’, it is clear why the term is often used interchangeably with other related terms such as ‘leadership,’ and ‘management.’ While many academics have, for obvious reasons, emphasised and written on the rather blurred distinction between these terms, it is my humble view that the terms connote invariably the same thing, which is the exercise of power and the control and utilisation of resources to attain development. • To be continued

THE NATION MONDAY, AUGUST 6, 2012

NEWS

Why we’re contesting Edo election, by PDP

HE Peoples Democratic Party (PDP) in Edo State yesterday said it filed a petition against the election of Governor Adams Oshiomhole to deepen democracy and the rule of law. It said the election was marred by fraud, irregularities, rigging and manipulations. A statement by its Director of Publicity, Okharedia Ihimekpen, said the party was contesting the outcome of the election because it discovered that the modern school certificate presented by Oshiomhole was fake. The PDP said it was also contesting the outcome on the grounds that the governor was invalidly returned by the Resident Electoral Commissioner because the

Petition a nullity, says lawmaker From Osagie Otabor, Benin

HE lawmaker representing Oredo Federal Constituency in the House of Representatives, Razaq Belo-Osagie, has described the petition filed by the Peoples Democratic Party (PDP) against the re-election of Governor Adams Oshiomhole as a nullity. Belo-Osagie, who described the petition as unfortunate, said the July 14 governorship election had been adjudged internationally as one of the freest and fairest in the nation’s electoral history. “This petition, in my view, is a distraction, materially jaundiced and lacking merit on all grounds. It is destined to come to a nullity. “What we need in Edo now is for progressive forces, irrespective of party affiliation to build a strong political army to promote sustainability.” From Osagie Otabor, Benin

election was not conducted in compliance with the provisions of the Electoral Act 2012 (as amended).

“That the Resident Electoral Commissioner (Edo State) wrongfully issued Adams Oshiomhole with the Certificate of Return on behalf of the Independent Na-

tional Electoral Commission (INEC). “That Adams Oshiomhole, who was purportedly returned as winner of the said election, was not qualified to contest the election . “Despite the non-revision and non-amendment of the voters’ register, which was amended, they were used in various wards and polling units in the three senatorial districts. “We are also contesting the relevant academic qualifications of the Action Congress of Nigeria (ACN) candidate, Adams Oshiomhole. “He only tendered a Modern School Leaving Certificate without a primary School Certificate which by the Constitution does not qualify him to contest the election.”

200 housing units for Mobil staff From Kazeem Ibrahym, Uyo

FIRM, Bunmi-Ad-Faluyi Construction Nigeria Limited, is to build 200 housing units for Mobil Co-operative Society in Akwa Ibom State. The Managing Director, Bunmi Johnson, said the project, which will be completed in 24 months, would cost about N8.5billion. The project, “The Five Star Estate”, is made up of 130 units of six-bedroom duplexes and 70 units of five-bedroom bungalows, on the Le-Meridien Hotel and Golf Resort, in Uruan Local Government. Johnson said residents would live within the proximity of the five-star facilities within the business region and would benefit from a unique lifestyle experience. He said a Memorandum of Understanding (MoU) would also be entered into with the Le-Meridien Ibom Hotel and Gold Course so residents can get membership of the hotel’s facilities under the terms of agreed group discounts.

Parliament to be established

HE Akwa Ibom State chapter of the Nigerian Youth Parliament is to be set up soon. Deputy Governor Nsima Ekere said this when a delegation of the state’s three representatives in the Parliament and the leadership of the Akwa Ibom Graduates’ Forum visited him. He assured them that the government will assist in the setting up the Parliament, following the decision a to establish state chapters. Ekere lauded the pioneering role of Onofiok Luke, who served as the first Speaker. He said it was his credible performance that led to his elevation as a member of the House of Assembly. He challenged other youths to emulate Luke’s record.

Amaechi calls for religious tolerance

•Edo State Governor Adams Oshiomhole (second left) inspecting a drainage on Upper Mission Road, Benin...at the weekend

Flood cripples economic activities in Delta

LOOD caused by weeks of downpour has crippled economic activities in Asaba, the Delta State capital. The News Agency of Nigeria (NAN) reports that only businesses on Summit Road, Nnebisi Road and Ibusa Road were spared as other roads and streets in the metropolis were flooded. Okpanam Road, which leads to the Governor’s Lodge, the Government House, House of Assembly, Police Command headquarters and legislators’ quarters, to Cable Point market, Building Materials market on Asaba-Onitsha Expressway

and other businesses were not spared. The situation is the same on DLA road, Umuagwu, Zappa and in-land town areas as the flood has forced many shops to close. At the main market in the city, Ogbeogonogo, part of it is often flooded, a situation that has forced some traders to take refuge in shops of their “fortunate” colleagues, where they are squatting for a fee. Some of the traders lamented that the flood had destroyed their goods while some complained that their locations had been made inaccessible.

Ubaka Chijindu, a cement and wood dealer at the building materials market, told NAN that for the more than 15 years he had been in business, he had never experienced this type of flooding. At the Cable Point market, most traders, especially those operating in open shops, were sacked by the flood. One of the traders, Mrs Susan Okwara, said her tomatoes and pepper business had suffered much setback as a result of the situation in the market. She said there was no “free or safe place” for traders to display their wares in the market, adding that the situ-

ation was already affecting the upkeep of families as most of them depended on their petty businesses. Another trader, Eunice Abraham, said she had been suffering losses in her provisions business but that the worst experience was on Wednesday, when almost her entire stock was swept away. She appealed to the government to urgently tackle the problem, saying it had also sacked many people from their homes. Emeka Ani, a second-hand clothes and shoes dealer in Umuagwu, described the flood as “a big menace”,

Alliance’ll boost Nigeria’s unity, says Clark

•Clark

N elder statesman and former Minister of Information, Chief Edwin Clark, has described the political alliance between the Southsouth and the Mid-

dle Belt as the building bloc strengthening the nation’s political unity. Clark spoke in Abuja at a reception to mark the 70th birthday of former Military Administrator of Plateau State, Air Commodore Dan Suleiman. The regions, he said, during last year’s election formed a political alliance, Congress for Equality and Change, to ensure that all Nigerians enjoyed equal political status. The movement, according to him, reinforced confidence in the political system. The statesman also recalled the contribution of the Mid-

From Augustine Ehikioya, Abuja

dle Belt in unifying Nigeria. Clark described the celebrator as a detribalised Nigerian, who displayed uncommon honour, integrity and distinction in service. The Chairman of the occasion and former Minister of Information, Prof. Jerry Gana, said Suleiman remains a role model because of his excellence, achievements and leadership style. He said the celebrator has tremendous respect for integrity and character and has ex-

celled in various roles with distinction. Plateau State Governor Jonah Jang praised the sterling attributes of the celebrator and the role he plays in Middle Belt politics. Information Minister Labaran Maku described the celebrator as one of Nigerias finest soldiers and patriots who distinguished himself in all the positions God gave him. He said the celebrant would remain a role model for the younger generation in discipline, transparency, patriotism, honor, and courage.

IVERS State Governor Rotimi Amaechi has said he would continue to promote and encourage peaceful co-existence among Muslims and Christians. The governor spoke yesterday at a Thanksgiving Service at the Third Synod of the Church of Nigeria (St. Michael’s Anglican Communion) Evo Diocese Province of Niger Delta, in Port Harcourt. “As the Chairman of the Nigeria Governors Forum (NGF), what I will preach here is that there is need for peace in the country. There is need for peace and how we go about that is for the government to sit with the citizens on how to go about that peace,” he said. The governor said the NGF would continue to preach peace and unity among Christians and Muslims. “Anyone who disturbs Muslims from worshipping here in Rivers, I will arrest the person. “Muslims should be allowed to practise their religion, just as we (Christians) should be allowed to practise our religion anywhere,” he added. He said the Church has a great role to play, especially through what church leaders preach to their congregation. Bishop of Damaturu Diocese Rev. Abiodun Ogunyemi condemned the laxity of Christians in watching and praying; he challenged them to spread the gospel

Chevron trains 215 From Shola O’Neil, Port Harcourt

N oil firm, Chevron Nigeria Limited, has trained 215 technicians and artisans from Ijaw communities of Egbema and Gbaramatu in Warri, Delta State. The company sponsored the training through the Egbema/Gbaramatu Communities Development Council (EGCDC), which selected the beneficiaries in 2010 and paid them a monthly allowance of N25,000. At a graduation ceremony, EGCDC Chairman Edmund Doyah-Tiemo said some of the trainees acquired skills in fabrication, welding, marine engineering and fashion design, among others. Doyah-Tiemoh warned the beneficiaries that their training and skills would be measured by the quality of their output and willingness to contribute to the development of their environment. One of the beneficiaries, Anuwo Goddey, who was trained at Joe Marine Institute, hailed the EGCDC for the initiative. He said the training has opened a fresh vista of opportunities for beneficiaries.

Card-less ATM services in First Bank

HE nation’s automated transaction has advanced further, with the inauguration of a card-less Automated Teller Machine (ATM) transfer service by the First Bank of Nigeria Plc. The bank said the service is aimed at rendering financial services to people without bank accounts or payment cards. It said the inauguration was inspired by the passion to serve and extend financial services to the “unbanked and under-banked.’’ First Bank’s Managing Director Bisi Onasanya said financial inclusion is a panacea for sustainable economic development, enhanced entrepreneurship and wealth creation. Mrs Folake Ani-Mumuney, the Head of Marketing and Corporate Communication, said the fund transfer service is targeted at customers who need to transfer funds to individuals who do not have payment card or bank accounts for instant cash retrieval. She said it creates a platform for many more Nigerians, especially the low income earners and rural dwellers, to take advantage of the bank’s range of tailored financial services.

THE NATION MONDAY, AUGUST 6 , 2012

NEWS Bus crushes sweepers in Aba From Ugochukwu Eke, Umuahia

COMMERCIAL bus at the weekend crushed two street sweepers to death in Aba, the Abia State capital. The victims, two women, were sweeping the Aba/Owerri Road when the incident occurred. It was learnt that the victims, Oluchi Onyembi and Chioma Onyembi, were married to the same man. They were hit by a 14-seater Mitsubishi bus marked XP 775 AKL at the popular Onwuka Nails Junction, beside Concordia Filling Station, Abayi. Sources said the driver lost control of the bus and ran into the women. They said Chioma died on the spot while Oluchi died at the Abia State Teaching Hospital (ABSUTH), Aba. Their bodies have been deposited at a mortuary in the city.

Kidnap suspect held in Enugu

suspected kidnapper/ killer, Emmanuel Okoro (alias J-boy), has been arrested by the police in Enugu State. Acording to a statement by the police, the suspect has been on the command’s wanted list since last year. He was wanted over his alleged involvement in car snatching, serial killings and kidnapping. Okoro, who hails from Obeokwu Umunkiri in Obingwa Local Government Area of Abia State, was arrested at Eleme Junction in Rivers State on Friday. The statement said the suspect confessed to have participated in the kidnap of Prof. Ben Mbah, the Provost

of the College of Education, Eha-Amufu, Isiuzo Local Government Area, and the assassination of Mbah’s police orderly, Corporal Ikpi Arikpo, on July 28, 2011. It said the suspect also confessed to have participated in the robbery of a first generation bank in EhaAmufu last year, in which the bank manager and a security personnel were killed. The statement said the suspect was arrested with one of his gang members, Martins Okoye. It said Okoro also confessed that he killed three policemen in Rivers State.

Igbo presidency not negotiable, by Achuzie P

RESIDENT- GENERAL of Igbozurume, an Igbo socio-political organisation, Col. Joe Achuzie (rtd), yesterday said the emergence of Igbo presidency in 2015 is not negotiable. Achuzie told the News Agency of Nigeria (NAN) in Aba, Abia State, that his group was being reorganised to achieve the Igbo presidency. He said it was the same platform that helped Governor Rochas Okorocha to win the Imo State governorship election in 2011. Achuzie said that was the resolution at its Third National Executive/Steering Committee meeting, which was held in Lagos in June. He said: “It must be the turn of Igbos to occupy Aso Rock

at the end of President Goodluck Jonathan’s tenure, though Jonathan still has the right to recontest in 2015 by virtue of the 1999 Constitution. “But Igbos must not allow the chance to pass us by.’’ Achuzie said the Ohaneze has been in existence since immediately after the civil war, but as a cultural and social group, which made it difficult for Ndigbo to unite and present an Igbo presidential candidate. He said: “Sir Arthor Mbanefo and some others urged Dr. Nnamdi Azikiwe to contest fhe Presidency when the military decided to give civilians the opportunity to

vie for it. “Since Azikiwe’s attempts, no Igboman has been allowed near that position. “The most we had was compensation for assisting nonIgbo to get into the position and they gave us the position of vice-president. “This would not happen again. We will not give our support to a non-Igboman anymore. “Enough is enough. We will not serve other people again. Let others reciprocate the help we gave them in the past by supporting an Igboman to become the President of Nigeria.” “And we will gladly give that group the seat of the vice-president.”

Achuzie said that the body would not engage in partisan party politics but assured that the group would relate to any party that has a better chance for Igbos to actualise the presidential demand. He said: “Ndi-Igbo must decide who goes for us and should not accept imposition of Igbo candidates by other zones. “The zoning arrangement of PDP is an internal arrangement for its members only, and shall not disrupt our quest for Igbo presidency after the tenure of Jonathan.” According to him, Igbozurume is an organisation fashioned out to protect, defend and demand the political rights of NdiIgbo from the centre, and it is for all Igbos both at home and the Diaspora.”

Anambra shuts hotel

NAMBRA State Governor Peter Obi has said his administration will do everything possible to sustain the peace and security in the state, which he said has been boosting industrialisation. Obi spoke yesterday when he led security operatives to seal Arthur Garden Hotel at Umusiome Village, Nkpor, where four suspected kidnappers were arrested by security agents. He said the hotel would remain shut until the police conclude their investigation. The governor said the hotel would be seized, if it is established that the facility has been habouring criminals. Obi said the government would not tolerate criminals and urged residents to be well-behaved. He said the closure of the hotel is a message to persons engaging in or aiding kidnapping that the state will not accomodate them.

Tribunal sacks Enugu PDP candidate

LMOST a year after he was declared winner of the councillorship election in Ngwo-Asaa Ward, Udi Local Government Area of Enugu State, Mr. Tochukwu Obodo of the Peoples Democratic Party (PDP) has lost the seat to his rival in the All Progressives Grand Alliance (APGA), Mr. Izuchukwu Eze. The Enugu State Local Government Elections Petition Tribunal nullified Obodo’s election. The three-man panel, led by Mr. Uche Omeje, directed ENSIEC to conduct fresh election in the ward within 30 days.

From Chris Oji, Enugu

Eze, represented by his counsel, Mr. Alex Amujiogu, had prayed the tribunal to nullify the election on grounds that there was no election in Ngwo Asaa Ward as no electoral material was provided by the Enugu State Independent Electoral Commission (ENSIEC) on the Election Day. He argued that Obodo’s purported election was unlawful. The tribunal awarded the cost of N100, 000 against the third respondent (ENSIEC) and N50, 000 against Obodo.

Enugu renews call for Adada State

ENATOR Ayogu Eze at the weekend renewed the call for the creation of Adada State out of the present Enugu State. The senator and other political leaders in the state spoke during a condolence visit to the family of the late elder statesman and First Republic parliamentarian, Igwe Charles Abangwu. Eze said rather than slow down the agitation for Adada State, Abangwu’s demise should srtengthen it. Abangwu was, until his death, the leader of the Adada State Movement and is a symbol of that agitation. He was so passionate about the desire of his people to realise that dream that his name became synonymous with the demand. The political leaders agreed that the fallen elder statesman deserves to be immortalised. Eze said efforts would be made to ensure that a monument is named after Abangwu. He said the deceased would be given a befitting burial.

•From left: Chairman Board of Trustee, Tertiary Education Trust Fund (TETFUND), Dr. Musa Babayo; Executive Secretary, TETFUND, Prof. Mahmood Yakubu; Commandant, Nigeria Defence Academy (NDA), Major-Gen. Chukwuemeka Onwuamaegbu and former NDA Commandant, Gen. Abel Alkali, during the monitoring and inauguration of special TETFUND projects at the NDA, Kaduna...at the weekend.

Okorocha’s quarrel with council chairmen, by commissioner

MO State Commissioner for Information and Strategy Chinedu Offor has explained why Governor Rochas Okorocha sacked local government chairmen. In a statement, Offor said Okorocha did not want to work with the ex-council chiefs because the Imo State Electoral Commission, which conducted the election that brought them into office, was “illegally” constituted by his predecessor. The commissioner said: “The election through which the chairmen claimed their mandate had two court injunctions against it, which were ignored by former Governor Ikedi Ohakim and they have never been vacated. The Peoples Democratic Party (PDP), under Dr. Okwesilieze Nwodo’s leadership, did not recognise the poll, having asked Ohakim not to hold the election. So in the eyes of the law, no council poll took place.” Offor said the local governments became a pipe through which billions of naira meant for developmental projects were stolen. He said local government funds became funds “for cer-

‘Okorocha’s only crime is his refusal to share the people’s money to politicians, as was the tradition in the last administration’ tain individuals, who used it to purchase hotels in South Africa, the United Kingdom and mansions in Abuja and Lagos”. Offor said: “Officials who came into government as church rats with no pedigree became overnight billionaires. Governor Okorocha had to act, having sworn to uphold the constitution and clean the land by introducing the rescue mission agenda. “But under the prodding of Abuja and other discredited politicians, the council chairmen went to court. The High Court ruled in favour of the government but we got a contrary view from the Appeal Court. “Rather than allow the government the right of appeal, the same elements lied

to the Inspector-General of Police and the Attorney-General, and the police became biased. They aided the chairmen to break open their offices and forcefully take over the councils. “As a father, Okorocha sued for peace and invited the chairmen to discussions. But the Abuja-based talibans, who are bent on causing chaos in Imo, are asking the chairmen to resist the governor’s peace overtures citing term limits. “ISEC has the documents in which the chairmen agreed that their term was for two years, ending on August 8. Anyone in Owerri can get a copy of the law as amended by Ohakim, limiting their term to two years. Even the Appeal Court ruling in their favor clearly states that their term ends on August 8, so what is the controversy about? “Okorocha, as a law-abiding democrat, has abided by the ruling of the Court of Appeal, despite the fact that the state has appealed to the Supreme Court, which should have maintained the status quo. “He has asked the council chairmen to get back to work, but desperate forces are rak-

•Okorocha

ing up the term issue to seek attention and once again confuse the IG, the Presidency and the Attorney-General on what is purely a state matter. “The governor is a law abiding citizen, but some people feel threatened by his intimidating profile, based on the verifiable people- oriented projects he has completed within one year in office. “Okorocha’s only crime is his refusal to share the people’s money to politicians, as was the tradition in the last administration. He remains focused and resolute in the face of coordinated attacks by desperate forces orchestrated by former government officials. “Imo people have spoken, the courts have spoken. Okorocha has complied with all known court orders. The PDP should also comply with court orders. Imo must be better.”

THE NATION MONDAY, AUGUST 6, 2012

NEWS Newswatch workers oppose relocation of office By Joseph Jibueze The acting National Chairperson of the Women Wing of the Christian Association of Nigeria (WOWICAN), Princess Leah Olusiyi Solomon, presenting a Bible to the Minister of State for the Federal Capital Territory, Oloye Olajumoke Akinjide, during a courtesy visit by WOWICAN to the minister in Abuja at the weekend.

Police arrest herdsmen for weapons

OUR herdsmen have been arrested by the police in Nasarawa State for allegedly possessing illegal weapons, including a PMSG sub-machine gun, one locally-made automatic rifle and nine rounds of live ammunition. Two suspects earlier arrested in Lafia were said to have given information that led to the arrest of the re-

From Johnny Danjuma, Lafia

maining two. Police spokesman Michael Ada, who confirmed the arrest, said the suspects were apprehended by men of the State Intelligence Bureau. They were with the Criminal Investigation Department. The earlier arrested suspects are Usman Adamu and Ali Bamaiye of Kwala village

in Quanpan Local Government Area of Plateau State. Ada said their confessional statements led to the arrest of the other two, Tukur Usman and Hamza Tukur of Gada-Gwari village in Kuje Area Council of the Federal Capital Territory (FCT). According to him, Usman and Hamza possessed two rifles, which they buried on a farm at the boundary be-

tween Nasarawa and Plateau states. Ada urged the public to cooperate with the police to fight crime, adding that people should report suspicious movements. He said the suspects will remain in the police custody till they are interrogated to ascertain the source of the weapons.

Sympathisers protest Al-Mustapha’s absence at mum’s Fidau H UNDREDS of sympathisers who thronged the Kano family home of Major Hamza Al-Mustapha yesterday for the third day Fidau of his mother, Hajiya Fati, protested his absence. The prayers, which attracted top politicians, Muslim clerics, artisans, traditional rulers and well-wishers, were held at Lamido Crescent, Nasarawa GRA, Kano. The event almost degenerated into a rowdy scene, as the absence of Al- Mustapha dominated discussions. Hajiya Fatima died last Wednesday at 70 at the Mallam Aminu Kano Teaching Hospital, Kano, following a

From Kolade Adeyemi, Kano

protracted illness. The sympathisers appealed to the Federal Government to temper justice with mercy by releasing the Chief Security Officer (CSO) to the late General Sani Abacha. The condolence register reads: “Free Al-Mustapha, he has paid his sacrifice”. “The failure of government to allow this illustrious son join other members of the family to mourn the death of his mum is an attestation

that somebody somewhere wants him dead”. “Haba Jonathan, free this man now and win our heart.” The family’s spokesman, Hadi Al-Mustapha, urged the sympathisers to take solace in God, “as this is a trying period for us.” He added: “We must not forget that destiny is playing its role now.” Hadi, in tears, told the crowd that the family had filed an appeal against the verdict of the Lagos High Court, which sentenced Al-Mustapha to death, adding: “I’m

confident that my brother, my family and all of you shall overcome this nightmare in not too distant future.” He enjoined the people to identify with the family “at this moment of crisis by praying.” His words: “As Muslims, we believe that Allah is a merciful God. He will listen to us.” Major Al-Mustapha was condemned to death by hanging by a Lagos High Court in January over his role in the assassination of Kudirat Abiola, wife of the winner of the June 12, 1993 presidential election, the late Chief Moshood Kashimawo Olawale Abiola.

Kwara restates ban on commercial motorcyclists

WARA State Government has restated its ban on commercial motorcyclists on trunk ‘A’ roads in Ilorin. The ban, which expired last Friday, takes effect again in the next four weeks. The Special Adviser to Governor AbdulFatah Ahmed on Transport and Utility, Alhaji Bibire Ajape, told reporters in Ilorin yesterday at a press briefing that the affected roads include Ahmadu Bello Way, Muritala Muhammed, Abdulazeez Attah, Umar

From Adekunle Jimoh, Ilorin

Saro, Fate, Obbo, New Yidi, Zulu Gambari, Iloffa, Offa and Lanjorin and the whole of GRA. He said: “The unacceptable frequency of crimes and criminalities in these areas and the need to be proactive in the face of seemingly unending security challenges in the country prompted the governor to convene the state’s security council meeting to discuss and proffer immediate and long term solution to the challenges.

“It was observed that most of the criminal activities were perpetrated in the areas where banks are sited and on Trunk ‘A’ roads. It was also discovered that most of the crimes are perpetrated by commercial motorcyclists. “In the interest of the public and to guarantee the security of lives and properties and protect the okada riders, the governor approved council’s recommendation to regulate the activities of the commercial motorcyclists in line with global practices. “It is in the light of these that

government began negotiations with the representatives of the Joint Commercial Motorcycle Riders Association, Kwara State branch, to find a common platform and explain government’s position on the need to restructure their operation. “The meeting, which also snowballed into another meeting with over 65 okada riders associations, agreed to regulate the operation of the associations for security reason and to protect the operators and passengers.”

Boko Haram: Muslims urged to protect Christians

ENUE State Commissioner for Rural Development and Cooperative, Dr. Jacob Omenka, has urged Muslims to emulate what happened in Kenya by protecting their Christian brothers and sisters.

From Uja Emmanuel, Makurdi

He said the North cannot operate as an island as it needs the support of the South because its economy is being ground to a halt. The commissioner challenged northern leaders to take

their cue from Kenyans who protected Christians after a bomb explosion in a church. He enjoined them to condemn the Boko Haram insurgency as their silence does not help matters. Omenka described Boko

Haram as a faceless organisation carrying out guerilla kind of attack and said the best way to tackle the menace was for the people to adopt neighbourhood security measures where everyone would be security conscious.

EWSWATCH workers have opposed a bid to relocate the magazine from its Ikeja office to Marina, Lagos Island, saying they cannot be expected to “trek from Lagos Mainland to Lagos Island on empty stomach.” They demanded the payment of their outstanding wages and sought an upward review of their current salary by 300 per cent. The workers said they have not been paid since April, while working conditions have remained deplorable. In a letter to the magazine’s Chairman and Publisher, the workers, under the aegis of the Nigeria Union of Journalists (NUJ) (Newswatch chapel), said they must be paid before they could discuss relocation with the management. They said in addition to salaries, transport and production allowances have not been paid. They urged the Lagos State Council of the NUJ to intervene. According to them, the situation has caused “untold hardship and embarrassment” to them as most can not meet their family obligations. They said some of them have been embarrassed because proprietors of schools find it difficult to believe that journalists working for Newswatch, published by “an acclaimed astute billionaire businessman” , cannot pay school fees. “Almost all the media houses are located in the mainland, for easy access to journalists. Compelling us to move to Marina is tantamount to being subjected to excruciating conditions,” the workers said. They decried what they called “unbearable working conditions” in a “collapsed” library, lack of access to information, lack of money to travel for stories, lack of chairs to sit and work, broken-down toilet facilities with rats and mosquitoes taking over – all due to lack of working capital. “Workers were taken aback by the news that you stated categorically that you will not be paying workers’ salaries, while at the same time paying the cost of printing the magazine. “Do the board members expect us to trek from Lagos Mainland to Lagos Island on empty stomach, given the non-payment of salaries since April? “

Wada attends to accident victims •To pick their medical bills

OVERNOR Idris Wada of Kogi State yesterday broke protocol by stopping his convoy to attend to accident victims on the Kotonkarfe-Abuja Expressway. The governor, who was returning to Lokoja, the Kogi State capital, stopped his convoy to help the victims of an accident involving a trailer and two 18-Seater Hiace buses heading for Lafia from Lagos. A statement from the Lugard House by the Special Adviser to the Governor on Media and Strategy, Jacob Edi, said the governor alighted from his official car

and ran across the road to give a helping hand to the victims. He used his mobile phone to call officials of the Federal Road Safety Commission (FRSC) who arrived on the scene a few minutes later. Wada said he would pick the medical bills of the injured. Three people were feared killed in the accident. Many were taken to the intensive care unit of the Federal Medical Centre, Lokoja. Wada hailed officials of the FRSC for the professional way they handled the accident and sympathised with the victims.

‘Governors ‘ll use state police to hunt opponents’ From Tony Akowe , Kaduna

IVIL rights activist and President of the Civil Rights Congress (CRC) Mallam Shehu Sani said yesterday that creating a state police would amount to providing governors an apparatus for the prosecution of perceived political enemies and opposition parties. He said in a statement made available to The Nation in Kaduna that the argument that state police would help address the security challenges in the country was absurd, illogical and disgusting, adding that it would rather aggravate it. Sani said creating a state police would amount to providing incumbent governors an unrestrained opportunity to rig elections, hunt dissidents and terrorise communities that differ from them and could also be used against lawmakers, in case of executive/legislature feud. The statement reads: “The recent call for the creation of state police as a panacea for our security challenges is absurd, illogical and utterly disgusting. State police will in no way address the security challenge in the country, but will rather aggravate it. “State police will be turned into a ready-made instrument of persecution by the governors against perceived political enemies and the opposition political parties. State police will provide incumbent governors with unrestrained opportunity to rig elections, hunt dissidents and terrorise communities that differ. “State police can be used against members of state assemblies in case of executive/legislative feud. The corrupt and destructive manner governors handle the administration and finances of local governments leaves much to be desired in terms of the morality and safety of creating a state police. “Proliferation of security agencies will lead to unnecessary duplication of responsibility, proliferation of arms and arming of party thugs and miscreants in the guise of state police.”

THE NATION MONDAY, AUGUST 6, 2012

NEWS

Mark stops Senators from Aviation road show in US, Canada , China

ENATE President David Mark yesterday asked members of the Senate Committee on Aviation to shelve a scheduled trip to the United States, Canada and China on an Aviation Road Show. Mark is said to have also asked members of the committee who collected money for the trip to return it. Those who might have embarked on the trip were told to come back without further delay. The Nation on Sunday exclusively reported that members of the Senate Aviation Committee have accepted Aviation Minister Stella Oduah’s offer of a three-nation “Foreign Investment drive.” Three Senators, our correspondents gathered, were scheduled to visit US, Canada and China in company with Oduah ostensibly to study

From Onyedi Ojiabor, Sanni Onogu and Victor Oluwasegun, Abuja

those countries, airspace policies and airports and compare with Nigeria ’s with a view to determining Nigeria ’s inadequacies. One of the lawmakers was said to have gone to the Ministry of Aviation last Wednesday to insist that his basic traveling allowance for the trip be handed over to him directly. The lawmaker who was reported to have pestered ministry officials was said to have told the officials that he did not want any third party payment. But the officials reportedly advised him about the need to follow due process in their own interest. Chief Press Secretary to Senate President Paul Mumeh, said he was not aware that the Senate President gave approval for

Keagan wins Big Brother Africa Stargame

•Disowns trip any Senator to travel abroad on Aviation road show. Mumeh said: “The Senate President did not give approval for any Senator to travel abroad because none applied or requested to travel abroad. “The Senate Standing rule is clear on this that Senators must seek Senate President’s approval before embarking on any foreign trip.” Our correspondent gathered that though there were sufficient reservations in the Presidency regarding the aviation road show considering its huge financial implications, President Goodluck Jonathan was assured that some positive gains would emanate from the trip. A Presidency source has already tagged the trip “a jamboree and a huge distraction”

•Mark

that should not have been accommodated especially at a time when there was a big question mark on the way the country’s aviation sector is being run. A member of the House Committee on Aviation told one of our correspondents that the Aviation Minister contacted the House to nominate lawmakers for the trip. The member said the request was turned down out right. He said no member of the House had anything to do with the trip.

•Anambra State Governor Peter Obi giving out instructions to the officials of CCC Construction Firm during the inspection of the on-going Onitsha Bridge Head-Upper Iweka FiveCarriage road…yesterday

OUTH Africa’s representative Keagan, last night won the Big Brother Africa Stargame. He picked the prize for the first time for South Africa. It was the seventh edition of the reality show. Keagan, who hails from Cape Town, beat other highly favoured contestants such as Prezzo, Lady May, Talia, Wati and Kyle. He took home the star prize of $300,000. Nigeria had three representatives. Chris and Ola pulled out in the early stages on account of ill health while Goldie was evicted last month.. Nigeria won the reality show three times previously through Uti Nwachukwu, Karen Igho and Kaneng Pam.

Police debunk oranges death report By Jude Isiguzo

AGOS Police Chief Umar Manko has debunked rumours being circulated on social media that residents are dying after eating oranges. He described the rumour as false and baseless as no such report had reached any Divisional Police Station and Area Commands. Manko warned against rumour morgering peacefull coexistence of residence and security to desist forthwith. A statement by spokesperson Ngozi Braide said: “The attention of the Lagos State Police Command has been drawn to publications on some social networks being circulated within the country, which Lagos State is fingered as the actual state that has made some records of death after orange eating. “The Command wants to use this medium to debunk this rumour or rather allegation, as this did not and never emanated from the Nigeria Police or Lagos state police Command. “The Commissioner of Police considers this rumour false, as none of the Divisional or Area Command Headquarters in Lagos has received any complaint with regards to such, from the public “He therefore wishes to advice members of the public to use the communication channels responsibly and not to engage in rumour peddling. The public should also seek confirmation of such rumours before broadcasting, as that could be malicious and at the same time disrupt the peace in the state. “That not withstanding, the Command has commenced investigation to ascertain the origin of this information. Members of the public are hereby advised to continue to go about their lawful duties as adequate security measures has been put in place to forestall any ugly occurrence”, the statement read.

We’ve returned N80b Abacha loot, says Switzerland

Boko Haram: Anglican urges Christians to be vigilant

HE Chancellor, Diocese of Lagos Anglican Communion, Justice Adesola Oguntade yesterday said from the time has come for Christians to be vigilant and take necessary precautions to prevent further attack by the Boko Haram sect. He urged Christians never to hesitate reporting suspicious movements to the police. He spoke at the Cathedral Church of St. Jude (CSJ), Ebute Meta, during the 2nd CSJ Annual Lecture on The Church and Society. Justice Oguntade, who was

From Odebiyi Olatunde

represented by the Registrar, Lagos Mainland Diocese, Lady Chinkwe Ochaga, urged Christians to assist the police by giving them necessary information which may be useful in preventing these attacks. He said Christians should continue to pray that God will convert the terrorists. There is no need to resort to violence in the belief that we can ward off the attackers, rather we should see ourselves as one big family and continue to pray for peace to rein.

He recalled the words of Charlotte Elliot in Hymn: 308 “Christians, seek not repose: Hear thy Guardian angel say; thou art in the midst of foes! What and pray!” He said the only thing Christians can faithfully do in this prevailing situation is to take the case to God in prayers. He urged religious leaders to ensure that surroundings and environment of churches and worship houses are well guarded to ward off the planting of bombs. Oguntade called on Government to employ the ma-

chinery of the State to protect Christians. Government should get law enforcement agencies to do their duties in suppressing terrorism. Author, Lawyer and Politician, Dr. Tunji Braithwaite, said Christians should undertake demonstrations against injustice and corruption, “our destiny is in our hand, and it’s time for Christians to take action on these terrorists”. He urged Christians to pray for each other and keep their trust in God noting that the responsibility for success over the attackers lies in God’s hands.

2015: We’re on course, says PDP

HE Peoples Democratic Party (PDP) has advised the leadership of opposition political parties to shed their personal interests and sectional agenda to realise their wish of forming an alliance that can challenge the PDP in the 2015 general elections. In a statement yesterday by its National Publicity Secretary, Chief Olisah Metuh and entitled: “We Shall Meet in Philippi”, the party said being “the truly national political party that is deeply committed to the continued existence of Nigeria as well as its transformation”, it is not threatened by such an alliance. Reacting to the on-going

From Gbade Ogunwale, Abuja

merger talks among the major opposition political parties, the party said Nigerians are capable of “separating the wheat from the chaff” and that they will choose between an alliance where “vaulting personal interests will ceaselessly riot and yield no support to national stability” and the PDP which has remained the symbol of national unity and progress. The statement added: “We hear of alliance and mergers every day. That is not new. Let us wait for 2015. Do you think Nigerians are fools? Do you think that Nigerians do not take notice of the

character and tendency of individuals and political parties? “Though the nation is yet to reach its destination in terms of socio- political and economic development, the thirteen years of PDP have made very significant contributions that have translated promises to tangible benefits in many respects. “Our party has shown enormous capacity and has achieved significant manifest benefits in national growth drivers as in freedom which is at the heart of civilisation; in terms of free and fair elections which is the live-wire of democracy and in real infrastructural growth at the federal and in the states un-

der our control. We can only continue to improve” According to Metuh, the PDP is the only political party with strong presence in all the 9,572 electoral wards in Nigeria and will rely on this intimidating membership as well as on credible performance to win the 2015 general elections, “our popularity and acceptability not being in doubt.” “The PDP is not talking about the 2015 general elections for now. We have a mandate and we are bent on delivering on our promises to the people. We have even banned our elected officials from campaigning so that their focus on delivery is not distracted,” he said.

Continued from Page 4

trade volume.’’ Baum stressed that plans were underway to improve on the bilateral trade, citing the visit of a trade delegation from Switzerland to Nigeria in 2010 as part of the trade improvement strategies. Baum, who assumed duty in Nigeria in 2008, is expected to leave the country this month, having completed his hour of duty.

•The late Gen. Abacha

Boko Haram: IBB blasts Edwin Clark Continued from Page 4

the stage for younger generation and Clark should allow him to be. The statement said: “Gen. Babangida has no hand in the present challenges facing President Goodluck Jonathan, and the insecurity in the country. In fact, it is IBB’s belief that some of the problems were inherited by the present administration. “IBB has since left the political turf for the younger generation of Nigerians. He has said repeatedly that he will no longer be an applicant in the political industry in Nigeria until Allah calls him home. “Rather than crucify General IBB for nothing, Chief Edwin Clark should blame the corruption in the system and the several incompetence and inadequacies of the present system. “Instead of buck-passing

and playing the blame game, we expect Edwin Clark to advise the government of the day to do more of consultation with former presidents, opinion moulders and leaders of thoughts across the country with the aim of getting lasting and integrated solutions to our problems. “Let it be noted that further implied statements and misplaced accusations from Chief Edwin Clark would be greeted with litigation. A word is enough for the aged.” Chief Clark declined to respond to Gen. Babangida’s criticism when contacted last night. He said: “If at 70, Gen. Babangida is talking about senility, I know what to say to him. “I’ve not read what he said but I can assure you I want to reply him word for word, statement for statement. I will make a full statement to reply him.

THE NATION MONDAY, AUGUST 6, 2012

LONDON OLYMPICS

THE NATION MONDAY, AUGUST 6, 2012

SPORT EXTRA Nwangubi blasts govt for downward trend in sports

OVERNMENT at various levels have been blamed on the downward trend of Nigerian Sports, while the youths have been exonerated from whatever vices they engaged in. According to a member of the Federal House of Representatives Anwalu Fons Nwangubi representing Mayo Belwa Jada Ganye and Tongo Federal Constituency of Adamawa State, the various governments failed to realise if the youths are fully empowered in different types of sporting activities, the present condition of insecurityand Almajiri syndrome in country would have been reduced to the barest minimum, if bot totally eliminated. The Honourable member who is the chairman of Yurahab Football Academy said" I am interested in the development of youths at the grassroots that is why I am venturing into the management of a football academy. I want to create an avenue where the youths can exhibit their talents, at the same time, empower them in various areas. I don't want us to continue to blame the youths for not finding something to do, but

From Patrick Ngwaogu, Abuja we at the ruling class have not done much to assist those youths. In most cases we leave them to their fate which is not good for the development of spots in the country. I want them to have something to do, so that they would be able to showcase their talents in various sporting activities". Speaking further, he said "already we have some of the most talented players in the world, but the problem has been that they have no one to cater for them either to sponsor them or get them closer to sports career. In my Academy, that would be the basis. We are not selecting players from Adamawa state alone, but we want it to cover the whole country. When we kick-start fully, it would not be on tribe, religion or ethnic basis. It would have a national outlook, because the moment you have players from one tribe, then, your motive becomes selfish". He stressed that the technical crew of the Academy has been advised to comb the rural areas of the country to get the best players that would be the pride of the nation in future.

Boos don’t bother me, I expect more —Neymar

RAZILLIAN soccer prodigy, Neymar is expecting more reactions from the crowd over his perceived dives than his goals at the London Games. The Brazilian star hasn't received a very warm reception from the British soccer fans so far but says he is just fine with that. He was jeered throughout Brazil's win over Honduras in the men's quarterfinals on Saturday, especially after a foul on him led to a controversial red card to a Honduran defender. It wasn't the first time Neymar heard from the British fans and he doesn't expect it to be the last. He knows the taunting will likely continue when Brazil faces South Korea in the semi finals on Tuesday, but says it will still not affect his game. "I'm not changing the way I play because of how the crowd reacts," Neymar said. "It's normal for the fans to boo at times, but I never think about that. I have my mind in the right place and I'll do whatever I have to do to help Brazil win. They will probably boo me again but it will not affect me." Brazil coach Mano Menezes said it's a cultural matter and the player will have to get used to it, especially when playing in Britain. "Fans have their own view of how football should be played, and when a player doesn't fit

in their cultural preference they will let him know," Menezes said. "Neymar will just have to deal with that so he can keep helping Brazil as he has been doing so far." Neymar had heard from the British crowd even before the Olympics began, being jeered in a warm-up against the host just a few days ahead of the tournament. It happened again in the Olympic opener against Egypt when fans in Cardiff, Wales, felt the Brazilian was diving too much to try to earn fouls. Neymar, who early in his career rejected a multimillion dollar offer to play for Chelsea, had already had problems in a friendly match against Scotland at Emirates Stadium last year, hearing from the fans for allegedly faking injuries. Most of the taunting against Neymar in Newcastle began after Honduras defender Wilmer Crisanto was redcarded for fouling the Brazilian in the 33rd minute at St. James Park. It appeared a foul but Neymar seemed to go down a bit harder than needed. It didn't help that the crowd had already been rooting for the underdog Hondurans from the beginning. CHANGE OF NAME

OJO I, formerly known and addressed as MR. OJO SAMUEL, now wish to be known and addressed as MR. SAMUEL PETER ALABA. All former documents remain valid. Eti-Osa East L. C. D. A and General Public should take Note.

59 PUBLIC NOTICE GOLDEN STEEL ESTATE LANDLORDS’ ASSOCIATION This is to inform the General Public that the above named Association with its Headquarter in Delta State has applied to Corporate Affairs Commission, Abuja for its registration in accordance with the part “C” of the Company Allied Matters Act, 1990. THE TRUSTEES ARE: 1. ENGR. ADEMOLA AKANDE - CHAIRMAN 2. MR. ABOSCO IFEBHOR - MEMBER 3. MR RICHARDSON OSIFO - MEMBER 4. BOLA OMOYENI ESQ. - MEMBER 5. MR. IDOWU RAMONI - MEMBER 6. MR. EDWARD ITAMA - MEMBER 7. MR. BRISBEY KEBOH - MEMBER 8. AYO ASALA ESQ - SECRETARY AIMS & OBJECTIVES OF THE ASSOCIATION: i) To enhance, project and preserve the well being of members residing within the Estate. ii) To initiate, execute and/or promote the execution of projects which shall benefit the Landlords and residents of the Estate. iii) To encourage environmental protection and security awareness within the Estate. iv) To preserve the unity and oneness of persons residing within the Estate. v) To cater for the welfare, interests and the general wellbeing of residents of the Estate. Any objection to the registration should be forwarded to the Registrar-General of the Corporate Affairs Commission, Plot 420, Tigris Crescent, Off Aguiyi Ironsi Street, Maitama District, P.M.B. 198, Abuja FCT within 28 days of this publication. AYO ASALA ESQ. (Prime Chambers) 4 Old Ujevwu Road, Udu-Ughelli Road, Ovwian-Warri. 08054444891

THE NATION MONDAY, AUGUST 6, 2012

SPORT EXTRA WEST BROM TO TRANSFER AGENTS

Ehiosun promises more goals

No transfer for Osaze N W

EST Brom has rejected a bid for Nigerian striker Peter Odemwingie, but Baggies boss Steve Clarke has ruled out talks. The offer came from a Premier League rival. Odemwingie, who has scored 25 goals in 60 appearances for Albion since his arrival from Lokomotiv Moskow in 2010, is a key player at the Hawthorns. However, the Throstles' continual struggle to raise their standing from bottom-table plodders to title-contenders has frustrated the Nigeria international. The 31-year-old has previously hinted that a return to a strong side in Russia could be on the cards, but is also open to move to a bigger English club. Clarke, however, has played

•Albion reject another Nigerian's bid

down speculation Odemwingie is heading for another top-flight side, but confirmed the Baggies fielded an offer from overseas. "There was one bid came in for Peter. It wasn't from an English club and we turned it down, so I think that says enough," he told Sky Sports. "I think you're always going to have speculation about your good players. It wouldn't be football if you didn't have speculation, especially over the summer and the way the transfer window is now. The window's open, so your good players are going to be linked with other clubs."

•Odemwingie

EW Genclerbirli recruit Ekigho Ehiosun has vowed to score goals for his new Turkish club. Last season, Ehiosun scored nine goals but they were not enough to keep Samsunspor in the Turkish top flight. The former Warri Wolves striker told MTNFootball.com soon after he signed for Genclerbirligi that he was thrilled to have finally sorted out his future. "I am happy that I am here at last. There were a lot of offers for me, but after a thor-

ough study and consultation, I settled for Genclerbirligi. I am here to do my best and contribute to the team’s success with my goals. I wish to thank my agent Cem Onuk and I promise not to disappoint them all. I am looking forward to great season ahead, he said."s The Nigeria international had offers from Antalyaspor, Gotzepe and from Germany as well as Israel before he settled for Genclerbirligi, who once paid the wages of Promise Isaac and Patrick Pascal.

Jude Aneke set for Turkish move

LL-TIME top scorer in the Nigeria league Jude Aneke is poised to soon move to Turkey with several clubs hot on his chase. MTNFootball.com has gathered that Bursaspor, Sivasspor and Bucaspor are all keen to sign Aneke, who last season set a new all-time record in the NPL by scoring 20 goals. Top Turkish agent Hasan Eglimez told MTNFootball.com that the Warri Wolves striker Aneke is expected in Turkey by the new week. Bursaspor appear to be most interested in signing the former Kaduna United star as they have set a budget of 1.5 Million Euros to sign him. "Jude Aneke will definitely not play in Nigeria next season because with the offers

on the table for him, he will definitely get a contract," informed Eglimez. "Turkish teams namely Sivasspor, Bucaspor and Bursaspor have shown interest in having him, while there is also interest in Russia from Amkar Perm as well as Roma in Italy. It seems he will land in Turkey because his visa to enter Turkey will be ready next week and he will move immediately. Sivasspor coach Reza loves him and he has likened him to Emmanuel Emenike." Aneke, who has been capped once by Nigeria, has scored five goals in the NPL this term for Warri Wolves. He underwent trials at Belgian club Genk in November but a monetary disagreement was believed to be responsible for a breakdown in the transfer and he returned to Nigeria to join Warri Wolves.

•Bogdan Oprita’s body on the pitch after he collapsed and gave up the ghost

Nigerian player dies during soccer match in Romania

Nigerian soccer player has collapsed and died during a second-division league game in Romania after doctors were unable to resuscitate him. Bogdan Oprita, head of the local ambulance service, told national news agency Agerpres that FC Tulcea player Chinonso Ihelwere Henry collapsed during a game against FC Balotesti Sunday. The game was played in the town of Baltoesti, north of Bucharest. Oprita said doctors were unable to save him after his heart stopped beating and he stopped breathing. Oprita said an autopsy would be performed to determine the cause of death. The 21-year-old Henry had

been playing for Tulcea since 2010. He arrived in Romania in 2007.

•Bogdan Oprita

THE NATION MONDAY, AUGUST 6, 2012

SPORT EXTRA LONDON 2012 OLYMPIC GAMES...LONDON 2012 OLYMPIC GAMES...

National Sports Festival and security lessons for our officers

F •Nigeria's Felix Ekpo competes on the men's 77Kg Group B weightlifting

Nigeria House in the spotlight T

EAM NIGERIA first medal at the ongoing London 2012 Olympic Games may still be in the pipeline, I hope our boys will not break all pipes in London searching for medals, but off the field, even the host nation, Great Britain, and sports power house, China and United Sates of America are playing the second fiddle to Nigeria. At the Theatre Royal, Stratford East, London is Nigeria House. Here people from different cultures and background come to experience Nigeria. Powered by the Nigeria Olympics Committee (NOC) AND THE Bank of Industry, the Olympic Games begins at the Nigeria House July 20 with top artists like the King of Music, King Sunny Ade, Wizboyy, Waje, Tuface, and Waliyah. Other artistes include Wande Coal, Naeto C, Tiwa Savage, and Seun Kuti. There is also the Nigeria in Diaspora All Star Band featuring Asa, Dele Sosinmi and Tony Allen. Professor Wole Soyinka and his literary works like The Lion and the Jewel and others will be served. Other dishes on the menu include UK, Nigeria Creative Partnership by the New World Nigeria and the British Council. The ‘Nigeria House’ was declared open by the head of the Nigerian Bank of Industry Evelyn Oputu, the President of the NOC Sanni Ndanusa and a representative of High Commissioner Dalhatu Tafida. It was celebration of Nigeria’s culture as Nigerian drumming and dancing, led by a musician with a ‘talking drum’ –

There were then speeches from notable Nigerian figures like veteran actor, writer and director Olu Jacobs. There were also musical performances by some of the artistes representing ’30 Nigeria House’.’ The 30 Nigeria House’ is the ongoing

collaboration between New World Nigeria and the Theatre Royal Stratford East which is supporting 30 young artistes, musicians and actors who are Nigerian or of Nigerian descent. Selected from 150 initial applicants, they will receive mentoring, advice and financial support in developing their careers,

producing work that will be showcased at the Theatre Royal Stratford East and elsewhere during the London 2012 Olympic Games and beyond. If you have missed past events at the Nigeria House tomorrow there will be show by UK Nigeria Creative Partnership, Gallery, Pop up Shop, and Video Show.

Bank makes Nigeria proud at Africa Village

AST Saturday was First Bank day at the Africa Village; at East Lawn, Albert Memorial, Kensington Gardens, and the bank scored another first by making itself and Nigeria proud. The Africa Village is an initiative of ANOCA, an association of Africa Olympic Committee. The London 2012 Olympic Games is the first of such and 16 African countries that includes Egypt, Libya, Tunisia, Rwanda, Cote d’ Ivore, Cameroun were represented.

The Nigerian stand at the Village was empty, but all thanks to First Bank, the activities at the Village ensured that the Nigerian stand was the numero uno for all visitors both blacks and white. First Bank with some musicians and comedians from Nigeria, and their performances drew the crowd, but the People’s choice was Gbenga Adeyinka whose jokes drew laughter from the multi cultural audience. Then there was Nigerian meals provided

free by First Bank for all guests irrespective of where they come from. While some Nigerians, especially my media friends were doing Ajabo, the white people descended on the food especially the moinmoin and assorted meat. Nneka Anibeze of FRCN was so amazed with the speed with the white folks were queuing to be served Nigerian dishes courtesy First Bank that could not but say, Olukayode please ask these white people why they like Nigerian food so much.

•Blessing Okagbare

LASHBACK to 1999 and 2009 when we hosted the World U20 and U 17, many of our readers will equally remember 2003 when we hosted the All Africa Games, this also happens whenever we have major championships, football matches and other sporting events- horse whip wielding and gun-lotting security officers of all arms of the defense, beating the hell out of Nigerians and even shooting them to cheat the bloody civilians a lesson. At the ongoing London 2012, there is heavy presence of security men from Army to the police, in my over a decade romance with London, I have never seen such heavy security presence. But despite their ubiquitous presence what best describes them is courtesy. Everywhere you go they are ever ready to assist. At the Olympics Park. For this games, the British government has drafted 18, 200 Army, Navy and Royal Navy for what they call ’’Operation Olympics’’. At the parks, whenever you go through the security area and the scanner beeps, you will be body-search. While you are being searched, the officers do it in a friendly manner, asking you where you are from, your impression about the Olympics, London and Great Britain generally. They ask if you watched the opening ceremony and other questions. Men all over the world cannot resist beautiful women and for the men that throng the parks every day, some of them asked to be searched by the young beautiful girls in uniform, but the girls and the male officers instead of giving the ‘unruly men’ a dirty slap like our security men will do, they politely turn down the request with smiles. The officers get only £11 a day, two hot meals, and free transport to the place of work, as for tickets to watch events; they are grouped into 76 soldiers and each group get four or five tickets. These soldiers don’t say because of poor pay that they will start collecting half the fare from spectators to let them into parks or stadia. As the EKO 2012 National Sports Festival approaches, I hope our security operatives are learning a lesson from this. Athletes’ discipline, lesson from St. Kitts In Nigeria, the bigger you are, the more your chances of committing murder and getting away with it. Our footballers, track and field athletes, and other class break camp rules and get away with it. Many of us will remember the popular case of a Super Eagles’ captain who played football in England, yet he claimed he missed his way to the team hotel at Edgware Road in London, as for punishment- none, he still captained the Eagles at the next match. But not in St Kitts and Nevis. The country’s biggest athletes, who literally put the country on global these when he won the IAAF World Champion 100 m medal in 2003, sprinter Kim Collins has been dramatically dropped out of the Olympics after falling out with his team for visiting his wife, not a girl friend, but his legal wife. Collins claimed he was given permission to see her for a night, but St Kitts and Nevis officials said they had not heard from him for three days. “This is how it ends. It ends on a really sad note. I should have been allowed to run.” The officials cancelled his accreditation for the London 2012 Games and sent him out of the Games Village. Collins commented: "Even men in prison get their wives to visit. What am I supposed to do? I'm going home. My accreditation was cancelled. I am not walking away, I was pushed out." Alphonso Bridgewater, general secretary of St Kitts and Nevis Olympic Committee, said none of his team knew of the sprinter's whereabouts. Collins claimed he had wanted time out to help him focus on the 100m. "The village is great, but I really needed some peace and quiet. I needed to get away; to focus because this is the last best chance I would have of a medal. I was told I could only spend one night. Initially, I expected her to be part of the team as coach, because she's not only my wife but assistant coach. She assists me in coaching two of the other guys in the team, Jason Rogers and Lestrod Roland. I feel that I should stay in a hotel with my wife, with or without their permission." But in St. Kitts rules are rule, same for everybody. Hope our officials are learning new things.

LONDON OLYMPICS

THE NATION MONDAY, AUGUST 6, 2012

www.thenationonlineng.net

MONDAY, AUGUST 6 , 2012 TRUTH IN DEFENCE OF FREEDOM

TODAY IN THE NATION

‘Was Nigeria really ready for the ongoing Olympics? As an observer put it, it is just like somebody sitting for a degree examination when he has not passed primary school examination. This is also to say that we are aspiring to reap rice where cassava was planted. ’ SOJI OMOTUNDE

VOL 7 NO 2,209

C OMMENT & D EB ATE EBA

NYTIME an impeachment Damocles hovers over an executive, we are treated not only to a drama. We expect the giants to dare, to ratchet up the rhetoric of hate. We listen for the drumrolls of war. But the case today is a little different between the House of Representatives and the Presidency. This is not war, but a prophesy of war. The theatre is deferred. The hate is conditional. So while the air is charged, it is osmotic in time. It is moving from a period of lower concentration to one of higher concentration. About September we should expect to see the House agog with the fury of the avenging lawmaker. Or shall we? It is unlike the most tempestuous impeachment drama in Nigerian democracy, which exploded in the Second Republic. Balarabe Musa, the flinty and inflexible idealist, finally fell to the Kaduna State House of Assembly under the fire-eating Dan Musa who asked the heavens to fall. It fell on the lonely Balarabe. We have not seen any impeachment drama as intense, as foolish in substance, and as final in its march as the theatre that Balarabe wrought. Today, we seem to have a drama and not to have one. No one seems to believe the Aminu Tambuwal chamber wants to sack President Goodluck Jonathan from Aso Rock. Yet, if you follow the drama closely, you would believe that Jonathan actually feels the heat and is awash with sweat, and the House may carry out its apocalyptic judgment on the Jonathan presidency. Because it is September, it looks like an ominous dance before the dance of death. In his classic novel, War and Peace, Leo Tolstoy defines death as the fear of waiting. Fear is real but once its object comes, then we have our game. Right now, the dance sways in the horizon. So, the House says it wants Jonathan out because he is dallying with the budget, and if he does not implement it fully by September, he will be yesterday’s man, and so will be all his court jesters like E.K. Clark, Anenih, Alison-Madueke, Okonjo-Iweala, and few others. For those animated by such politics, it is good news. For me, it is not. Jonathan has committed enough impeachment offences in my eyes, but I do not want him impeached. There is no doubt that the Tambuwal House has a point for looking for his head. Implementing the budget is a crucial responsibility of government, and once you fail, you have failed the people. The budget contains the answer of governance. It has defence votes for security, so if Boko Haram, the Jos inferno and the other incendiary moments of today persist, it is because the President has failed to deliver in that front. It is the budget that covers industries, agriculture and trade, so if hunger grinds the poor and the meek turn to violence, it is because the government has shirked its responsibility. We cannot downplay the value of government. The subsidy removal, the deployment of soldiers in brazen fashion in Lagos, were impeachable enough offences in my eyes. The budget though is more important. But to remove Jonathan will not be good for our frag-

RIPPLES NIGERIA YET TO GET A MEDAL AT THE OLYMPICS– News

Why not?...The country has no talent in SPORTS but CORRUPTION

The northern rage was infantile and imbecile, but the southern revenge triggered the atmosphere of angst. From both sides, wisdom fled. But rather than Jonathan to act in the cooperative spirit of Lincoln after the American civil war to bind the wounds, he gloated and his men started a romp of triumphal schism in the land. He did not know how to manage victory, and that is partly why some are baying for his blood. Those who accuse the House of opportunistic revenge have a point. Recently, one of their own, Farouk Lawan, was downed over the bribery scandal. Femi Otedola, who was the giver, is a friend of Jonathan’s and has appeared with him in public several times, including in Otuoke, his home village. Yet, the President is not doing anything about the giver while gloating over the fall of the taker. Both should have fallen on the sword of justice. But Otedola is playing righteous man. The House is not happy with that. We all know that even the election of leadership of the House was opposed by Jonathan. That was politics. Since the House leadership commenced its reign, why has the President not stretched his hands across in a gesture of friendship? Yet, a few months ago, he publicly rankled Tambuwal in a gratuitous show of executive hubris. Tambuwal fought back. The Speaker has shown himself a deft user of power, subtle, unobstrusive, with a granite interior overlaid with sheepish sheen. One of the attributes of American President Lyndon Johnson was his ability to use the power of persuasion and personal magnetism to bring a partisan Congress to his side. That was how he triumphed with the passing

of the Civil Rights and the Great Society bills in a still segregated America. Jonathan may not realise it. He is the president of Nigeria. He may have his wife flaunt herself as Dame the Vain, and become permanent secretary today in the ministry of education while she stumbles in her tenses. She may hold first lady summit with 200 flashy cars Coscharis has a hard time justifying. But Jonathan should realise, he is still president. He is the one who can stop the impeachment train. He should perform and transform Nigeria as he has promised. If he does not, the House should not expose the nation’s underbelly of hate. If Jonathan falls, you can imagine the rhetoric from his shrinking but turbulent supporters. They will only increase our bad temper as a people. General Usman Abdulkadir, chief of army standards and evaluations, may have been misunderstood when he said the army was overstretched over Boko Haram, but his words added more fuel to the fragility of our democracy. After the birthday jousting not long ago, Ibrahim Babangida and Owu Chief Olusegun Obasanjo warned against interfering with the unity of Nigeria. They have a point. Jonathan’s case is like the American novel, The Scarlet Letter by Nathaniel Hawthorne. It is the story of an adulteress in puritanical New England whose punishment is to pin a letter on her chest anywhere she goes as a lesson to any other potentially lascivious woman. So Jonathan is our scarlet letter. When he appears on television, travels to Trinidad and Tobago when his country is roundly defeated in African Union, when we see his simper and frown, when we hear his voice on radio, he reminds us of our mistake as a people. Also Dame the Vain reminds one of when Benjamin Franklin was embroiled in the American independence agitation against England, and all imports were banned from that country. But Franklin reached home and saw British jewelry at home. He exclaimed: “Alas, it is by the luxury and vanity of women that empires decay.” In spite of all these, Jonathan is president, and he should realise that he is president. In deed, Jonathan may have departed the Presidency, but the Presidency has not departed him because Nigerians put him there. He may not be the president in spirit, but he is in fact. As German philosopher Ludwig Wittgenstein wrote, “The world consists of facts, not of things.” The House should ensure Jonathan survives for the harmony of the country. Jonathan is our albatross. Let us carry him till his term is done.

HARDBALL

•Hardball is not the opinion of the columnist featured above

SAM OMATSEYE

IN TOUCH

intouchsam@yahoo.com 08054501081(sms only) •Winner, Informed Commentary 2009& 2010 (D.A.M.E)

Jonathan the albatross

•Dr Jonathan ile nation. It is not the preservation of Jonathan that should concern us. It is the preservation of the country. Never before has the nation been so torn apart by the swords of ethnic and religious divides. Never before is the rhetoric of hate so malevolent and pervasive. The election of Jonathan as president was part of our national obsession with self-destruction. He was voted in by a part of the country to spite another, and that part expected that it would all be smooth sailing? He was not voted in for vision, or for his ability to unite the country, or for his power to lead us out of our woes of hunger and ignorance. Rather, it was a project in malicious folly.

Reconciling Obasanjo, Daniel and Anenih RESUMING that these three party generals need reconciliation, the National Chairman of the Peoples Democratic Party (PDP), Dr Bamanga Tukur, has set for himself the thankless job of bringing together in one big happy family the troublesome troika of former president Chief Olusegun Obasanjo, former governor Gbenga Daniel, and former Board of Trustees chairman Chief Tony Anenih. It will be easier for a camel to pass through the eye of a needle than to get the three leading PDP politicians smiling again in one another’s company. Tukur told the press in Abuja at the weekend that it was necessary for the ruling party to put its house in order so that it could return to winning ways. In his opinion, the party lost in the Southwest because of lack of unity. This fallacy, which has been given currency for far too long, masks the real effect of the so-called disunity in the party. It was not disunity per se that cost the party the Southwest. Disunity became an issue in the polls to the extent that it disabled the party from joining forces in their usual Camorra-style to steal elections in the zone. It is important to put the lie to the party’s singsong about its defeat in the Southwest lest the unwary go away with the impression that ideologically and administratively the party was in tandem with the aspirations of the region and yet lost the elections. The PDP lost the elections in the zone, not because its leading lights fought

like Kilkenny cats, but because they were ideologically vacuous and, in terms of administration, quite indisputably inept. The region was going to rack and ruin, and the party’s governors had become pompous, hedonistic and even imperial. They neither had plans for the moment nor plans for the future. And for a zone accustomed to setting the pace, their slothfulness wearied the progressive soul. Sensing everything was lost, they even began to argue that progressives were not the exclusive preserve of any single party, without explaining how progressives and conservatives could coexist in a party that had, for all practical purposes, turned reactionary. Though the loss of the Southwest is motivating the search for rapprochement in the PDP, what is likely to doom the peace moves is something far more important than losing or winning elections in the zone or any other zone for that matter. The three party generals, whom Hardball once described as the PDP Triumvirate, are actually irreconcilable. Indeed, as Roman Empire history shows, Triumvirates are by nature, principles, and practice meant to fight to the death to establish undisputed supremacy. Recall that the first Roman Triumvirate of Julius Caesar, Marcus Licinius Crassus, and Gnaeus Pompey (Pompey the Great) fought until Caesar triumphed after Crassus died in battle in 53BC and Pompey was killed in Egypt in 48BC. The Second Triumvirate of Mark Antony,

Octavian (Augustus Caesar) and Marcus Lepidus followed the same tragic route until Augustus triumphed at the Battle of Actium in 31BC. It requires little foresight to recognise that the characters of the PDP Triumvirate make them bitter and eternal enemies. Obasanjo’s bucolic rage precludes him from taking prisoners or suffering fools gladly. He saw and still sees Daniel’s opposition as insubordination. He is unlikely to ever see the swashbuckler in any other light, for the effrontery the former governor showed when he thumbed his nose at the former president. That act cannot be undone, and therefore cannot be forgiven. Indeed, Daniel must consider himself lucky that the times have changed and we run a constitutional democracy; otherwise the fiery and wily retired general would have since forced him to fall on his sword like Mark Antony. And who would look at Anenih’s glazed and sepulchral visage and not read in it the bitterest of intentions, an unforgiving and malignant desire to feed his enemies to lions? Reconciliation? It can only be a quixotic quest, for the PDP Triumvirate is doomed to eternal enmity. Their politics and egos will only permit a permanent state of war. And, as it is now obvious from Southwest history, which is filled with spurious reconciliations, even their Christian consciences will permit nothing but malice.

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