The Nation March 26, 2012 by The Nation

Nigeria’s widest circulating newspaper

ACN mocks PDP convention

Light rail: Fashola woos investors

NEWS

Page 5

NEWS

Page 6

•CNPP alleges plan to rig in 2015

•Red Line ‘waiting to be taken’

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VOL. 7, NO. 2076 MONDAY, MARCH 26, 2012

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Senator begs wife’s abductors

Fed Govt, GE in $10b power deal S A •Nnaji

MEMORANDUM of understanding (MoU) involving Federal Government and the General Electric (GE Energy) has been signed in London. The deal covers a N175 billion (about $10 billion) investment in power plants with capacity to generate

By Emeka Ugwuanyi Asst. Editor (Energy)

10,000 megawatts. Power Minister Prof. Barth Nnaji, who led a delegation to sign the agreement at the Nigerian High Commission in London, told reporters that the GE has interest in acquiring at least 15 per cent

stake in power plan. The development countered earlier reports that the British firm wanted to build a 10,000 megawatts capacity plant in Nigeria. The investment could be sunk into existing plants or on new plants. But such investment will be after the

conclusion of the privatisation of the power sector, The Nation learnt. According to the minister, the GE’s move is the highest expression of investment support toward the government’s aspiration of achieving 40,000 megawatts generaContinued on page 4

Mikel: we won’t surrender

•Former Lagos State Governor Asiwaju Bola Ahmed Tinubu (left), Speaker Adeyemi Ikuforiji, Tinubu’s wife, Senator Oluremi and Osun State Governor Rauf Aregbesola’s daughter, Shakirat during the Health Walk and Free Screening to mark Asiwaju’s 60th birthday in Lagos ... yesterday. SEE ALSO PAGES 2, 3, 43 & 44. PHOTO: ABIODUN WILLIAMS

SSS steps up search for abducted German Boko Haram demands release of detained woman How sect’s faction betrayed Abu Mohammed group

ECURITY agents are battling to locate the whereabouts of a German, Edgar Fritz Raupach, who is believed to have been taken hostage by Boko Haram, the dreaded Islamic sect in whose custody two foreigners died three weeks ago. Briton Christopher McManus and Italian Franco Lamolinara were killed by the Abu Mohammed faction of Boko Haram, which is be-

From Yusuf Alli, Managing Editor, Northern Operation, Abuja

lieved to have links with al-Qaeda, the international terrorist group. Raupach has been held hostage since January by the Abu Mohammed faction of Boko Haram, The Nation learnt. The hostage takers appear to have the backing of Al-Qaeda, following the alleged arrest and detention of a Muslim woman, Oum Seif Allah Al

Ansari, in Germany. It was learnt that the al-Qaeda – backed Boko Haram faction is demanding immediate release of Oum Seif Allah Al Ansarim, who is being held in a prison, as a precondition for freeing the German hostage. A source, who pleaded not to be named because of the “sensitivity” of the matter, said: “The agencies are investigating the claim of al-Qaeda links with the kidnapped German in Kano

and the swap demand for a detained woman, who is a Muslim, in Germany. “Security agencies are working round the clock to free this German who was kidnapped in Kano. “This is another challenge but with effective collaboration, we should be able to locate the whereabouts of the hostage.” Continued on page 4

IKEL OBI has maintained Chelsea will not give up on finishing fourth in the EPL, despite a scoreless draw at home to rivals Spurs Saturday. Obi was an unused substitute as Chelsea failed to make the most of playing at Stamford Bridge against fellow Londoners Spurs Saturday. Sports Page 41

Haruna’s mum dies of shock

EATH has struck again in the home of the late Deputy Inspector-General of Police (DIG), Haruna John, killing his 82-year-old mother, Mrs Silany John. Apparently the death of her son, whose remains are to be buried on March 31, was too much for the old woman to handle. News Page 4

Senegal votes in presidential run-off

ENEGALESE are voting in a second round of presidential elections that has seen opposition candidates unite against incumbent Abdoulaye Wade. Mr Wade, who has been in power for 12 years, failed to win the first round outright last month. His opponents have gathered behind his challenger, former Prime Minister Macky Sall, for the run-off vote. Foreign Page 60

•OSUN ASSEMBLY SPEAKER TO ONI: STOP POLITICS OF RELEVANCE P56

THE NATION MONDAY, MARCH 26, 2012

NEWS COUNTDOWN TO TINUBU @ 60

Dance, Former Lagos State Governor Asiwaju Bola Ahmed Tinubu turns 60 on Thursday. Ahead of his birthday, cultural and dramatic troupes from Lagos, Osun and Oyo states celebrated him at the Muson Centre, Onikan, Lagos, last Friday. It was a night of dances and drama, reports EVELYN OSAGIE. • Tinubu (third right) , Oba of Lagos, Oba Rilwan Akiolu , Speaker Adeyemi Ikuforiji (left), wife of Osun State governor, Mrs. Sherifat Tinubu, wife of Lagos State governor, Mrs. Abimbola Tinubu, Mrs. Bintu Tinubu and others cutting a cake to kick off the Health Walk to mark Tinubu’s 60th birthday ...yesterday

•Gen. Akinrinade, Fajemirokun, Mrs.Nelson and Alhaja Abiola

T was all for Asiwaju Bola Ahmed Tinubu, who turns 60 on Thursday. The plays were inspiring and interesting. They covered virtually all aspects of his life. When he was born; when he was young and went to school; when he joined politics; and when he went on exile and became a chieftain of the National Democratic Coalition (NADECO). But the plays didn’t end there. They also captured his life as a governor and now leader of the Action Congress of Nigeria (ACN). The Muson Centre, Lagos, was aglow last Friday as cultural and dramatic troupes from Lagos, Oyo and Osun states celebrated the Asiwaju. Segun Adefila’s Crown Troupe performed with the cultural groups. Their plays centered on transparency; diligence to duty and the resourcefulness of a celebrated politician. The Osun State Council of Arts and Culture underscored the significance of hard work and determination. ‘Osun tun ti de’, chorused the actors in their electrifying displays. Saying Awa ti regbe s’ola, they took guests into the symbolic meaning of the state’s logo. The elephant, they said, symbolises “indomitable strength”; the sword, “moral responsibility”; the timber, “fertility”, and ori Olokun, “technology” etc. The Acts in Retrospect on the Asiwaju’s years as governor of Lagos State drew applause. It was a monologue presented by a woman, who played the Asiwaju. She held the guests spell-bound, including the ‘emeritus governor’. The command performance of Turn by Turn Nigeria Plc by the Lagos State Council for Arts and Culture was outstanding. The troupe lived up to the slogan: ‘Eko for show’. The play was a biography of sorts on the Asiwaju.

Tinubu urges Fed Govt to improve healthcare delivery

•Erelu Dosunmu and Mrs. Afolabi

•Mrs. Benson and Oba Sonuga

It is also a metaphor on the country and Lagos State in particular, highlighting some of its political histories. Traditional drumming and dances ushered in the narrator, a fat woman, who took time to entertain the audience with her dance steps. Her act enlivened the atmosphere. She was the setter of scenes, helping to carry the story through. She began the story with the birth of a child – Adekunle Akanbi (Asiwaju Ahmed Tinubu). The merriment that followed the baby boy’s arrival showed that he was destined for greatness. This was followed by a market scene. Her words: “Market is a place of encounter. What better place to meet a child of destiny?” ushered in traders. There, Alhaja Abibatu Mogaji, the child’s mother, came settling disputes among traders. She was accompanied by Ahmed. The scene is metaphoric of Nigeria’s strength in its diversity as Ahmed translates his mother’s speech into English to the warring traders, saying: “Celebrate our collectivity and individuality. Let us make our market a place of peace. This will lead to harmony for posterity.” He subsequently helped her to discover a fraud perpetrated by her employee. The story goes on from the boy’s early years in school to his trip abroad in search of the Golden Fleece. The actions are accompanied by songs and dances. After graduating, he returned home in fanfare. With the audience in rapt attention, the picture of the real Asiwaju when he returned from America was projected. He was full of smiles. His foray into politics and his travails under military dictatorship are noteworthy, highlighting his resilience as a leader. The actors recast Nigeria’s political story under the military. They had a phrase or sen-

PHOTOS OLUSEGUN RAPHEAL AND ABIODUN WILLIAMS

ORMER Governor of Lagos State and National Leader of Action Congress of Nigeria, (ACN), Asiwaju Bola Tinubu, has called on the Federal Government to ensure better healthcare service delivery in the country. Tinubu spoke yesterday at a Health Walk and Free Health screening programme, organised by members of his family to commemorate his 60th birthday, which comes up on Thursday. The former governor said: “A nation that cannot provide adequate budgeting on health for the people doesn’t have the interest of the people at heart. “The Federal Government that we have is spending more money for itself. The health of the citizens, especially the children, should be paramount and priority to any serious

By Oziegbe Okoeki

government. Here in Nigeria, our federal government is not putting enough money to equipping our hospitals to care for the lives of our children. “The Federal Government must ensure that more money is put into health research and equipment, the government must also ensure that doctors and nurses throughout the hospitals in the country are well remunerated for the benefit of our children and for them to deliver their services adequately.” He urged local government chairmen in the state to complement the efforts of the state government by ensuring that drainages are fumigated regularly in order to avoid diseases. Family members and others who joined in the road walk, which took

THE NATION MONDAY, MARCH 26, 2012

NEWS COUNTDOWN TO TINUBU @ 60

drama for ‘leader of leaders’

• Tinubu and Aregbesola

• Okoya-Thomas, Gbadamosi and Ajomale

• Female dancers at the event

tence to describe each episode. On Gen. Sani Abacha, they said: ‘Kaki turn to horror; Dem give am Indian apple’. The statement followed his mysterious death in his fortified Aso Rock residence. Since Nigeria’s story cannot be told without the June 12 saga, an army general dressed like Argentina’s former soccer star Diego ‘Maradonna’, walked in, annulled the election throwing the country into crisis. The story goes on to NADECO’s struggles, with the lead actor, ‘Asiwaju’ at the forefront. The story moves from his being in the senate in the Third Republic to his exile abroad; his support for the struggle from abroad and how, not long after, the Fourth Republic was born. The Fourth Republic ushered in new leaders, including Asiwaju Tinubu. At this point, his picture was off at Awolowo Road in Ikoyi, praised the ACN National Leader, describing him as a dogged fighter who has the interest of the citizens at heart. A member of the state House of Assembly, Abdoulbaq LadiBalogun, expressed delight at the large turnout. Ladi-Balogun said: “We are very impressed with turnout because we have been able to see that Asiwaju is someone everyone wants to associate with. We have taken a walk from Awolowo Road down to City Hall, and people have had access to screening of their eyes and their blood pressure. I must tell you that the turnout is very impressive.” The lawmaker described Tinubu as “a man of the people who believes that things should be done the right way. He believes that constitutional democracy must thrive, and he believes in touching people’s lives.” Others present at the event include: Speaker of the House of Assembly, Adeyemi Ikuforiji and First Ladies of Lagos and Osun states.

• Drummers at the event PHOTOS: OLUSEGUN RAPHAEL

projected on stage, perhaps to drive home the point. As Asiwaju, the actor walked in after becoming governor, the real Asiwaju smiled in the audience. The actor gave his speech and ended with the statement: “Where there is accountability, the road to transparency is assured.” The performance climaxed, with the singing of the birthday song by the audience for the ‘birthday boy’. Impressed with the performance, Tinubu joined the troupe on stage for photographs. He carried the Baby Ahmed whose real name is Orire Ajayi. Gbenga Adeniyi, who played the Asiwaju, stood on his left. While appreciating his guests, Asiwaju said: “Your presence here tonight is the encouragement you have given to these little kids that have become symbol of our pride. I have en-

joyed myself, I hope you have too.” He praised the performers, saying: “You are talented people; your reward will come. I am proud of you all.” The event, chaired by Chief Rasheed Gbadamosi, was attended by Tinubu’s wife, Senator Remi, Osun State Governor Rauf Aregbesola, his wife, Sherifat; his deputy, Mrs Grace Titilayo LaoyeTomori; Ambassador Olusegun Olusola; Oba Gbenga Sonuga; Erelu Abiola Dosunmu; Chief Molade Okoya-Thomas; Prince James Odunbaku; Aremo Olusegun Osoba; Chief Moji Afolabi; and Gen. Alani Akinrinade (rtd). Others included: Chief Dele Fajemirokun, Sen. Olabiyi Durojaye, Chief Ayo Opadokun, Lagos State House of Assembly Speaker

Adeyemi Ikuforiji, Prince Oluyole Olusi, Chief Henry Ajomale, Chief Kemi Nelson, Dr. Doyin Abiola, Haijiya Zainab Folawiyo, Alhaja Bisi Abiola and Yeye Oge of Lagos, Chief Oprah Benson. Tinubu also praised individuals who worked for the progress of Lagos State under his leadership, singling out Aregbesola. He praised him for his efforts as a commissioner under him. “The spirit that we are celebrating tonight is that character, perseverance, honesty and transparency. Aregbesola, you are one exceptional thinker and workman. There could have been no better spirit of the night if you had not become a governor,” he said. He also praised Osun State for its commitment to its anthem and logo, saying it is loaded with inspirational

precepts. He said: “I did not know that the symbols are so deep, historically and culturally. And that is the pride of the Yoruba nation. You translate the spirit of the symbol. We promise you that as leaders, we will not let you down. We bond together in hard work. And we all should be resolute and honest.” He expressed joy that Lagos State is forging ahead, saying he left it better than he met it. “I moved round and I saw the manifestations of achievements. And today we can claim the successes together. When we were taking that decision it was like a conspiracy. We had 15 potential governors and all were qualified. We do not see our population as a problem. We would turn it into prosperity,” Asiwaju said.

‘Asiwaju, leader of uncommon political sagacity’

S the National Leader of the Action Congress Of Nigeria (ACN), Asiwaju Bola Tinubu, celebrates his 60th birthday on Thursday, he has been described as a charismatic leader whose leadership skills would continue to make him the leading light of progressive politics in Nigeria. A member of the Lagos State House of Assembly representing Eti-Osa 02 constituency, Hon. Gbolahan Yishawu, spoke at the weekend. Yishawu said: “As the sole survivor of the PDP-led tsunami that saw to the progressives being swept off the political space in the Southwest in 2003, the adroitness with which he navigated the waters to berth with ACN now in control of Osun, Oyo, Ogun, Ekiti and Edo is a phenomenon worthy of study by students of Nigerian polity.” Yishawu, who described Tinubu as one-in-a-million in terms of po-

‘

He is a visionary leader whose voice has been leading the campaign for true federalism. This quality of thought, no doubt, requires in-depth thinking, critical understanding of economics and governance which can only be found in an astute and financial guru such as our one and only Jagaban Borgu, the Asiwaju Bola Ahmed Tinubu

‘

By Oziegbe Okoeki

litical astuteness and sagacity, saluted his courage and foresight in

drawing up a blueprint for development. He said Tinubu as governor of Lagos State laid the foundation for the transformation of the state through programmes and projects that were unprecedented at the time of their introduction. He said: “The BRT scheme and corridor which elicited skepticism at the point of conception, the waste-disposal model, as well as bold transformational moves in the judiciary, health and educational sectors bear eloquent testimony to the enduring legacy of our Leader, which the BRF administration has not only consolidated upon, but one that will continue to serve as road-map for future administrations.” The lawmaker praised Tinubu for raising and grooming a number of successors who are making their marks in different offices and positions. He advised all Nigerians to take a cue from the pan-Ni-

gerian disposition of Tinubu, which has seen him consistently stretch his hands of fellowship across ethnic and religious divides with a view to entrenching the gains made by the progressives in governance. Yishawu described the ‘Governor Emeritus’ as a visionary leader . He said: “He is a visionary leader whose voice has been leading the campaign for true federalism. This quality of thought, no doubt, requires in-depth thinking, critical understanding of economics and governance which can only be found in an astute and financial guru such as our one and only Jagaban Borgu, the Asiwaju Bola Ahmed Tinubu. “I can carry on about this selfless man with an unusual keen foresight for over an hour and still would not have succeeded in fully describing him.”

THE NATION MONDAY, MARCH 26, 2012

NEWS Police chief Haruna’s mum dies of shock

•President Goodluck Jonathan and his wife Patience receiving a bouque of flowers from little Anthonia on their arrival in South Korea ... yesterday. With them on the left is the wife of Nigerian Ambassador to South Korea, Mrs. Ene Akawor

SSS steps up search for kidnapped German Boko Haram kills three in Maiduguri Another source said: “We are working on a tip-off that Continued from page 1

al-Qaeda had worked in collaboration with Abu Mohammed faction of Boko Haram to kidnap the German in Kano. Some clues are suggesting that the German might either be in Kano or somewhere in North Africa. “But security agencies are not relenting in locating the German hostage either in Kano or elsewhere.” It was also gathered at the weekend that a faction of Boko Haram provided intelligence for the arrest of the late Mohammed and others on March 7 in Zaria. The arrest provoked the killing of the two hostages in Mabera Estate, Sokoto. According to sources, security agencies have established that Boko Haram was able to hold on to the murdered hostages for 10 months because of alleged sophisticated equipment and external backing from al-Qaeda and others. A security source said: “The Abu Mohammed men appear well-trained, organised, with weapons and armoury that security agents are still unravelling their linkages. “This sophistication of the faction, apparently aided externally, readily showed in their ability to keep the two hostages away from the extensive security hunt for 10 months. This gives a lie to the belief that the security agencies have acquired equipment that could track ter-

POLICE Inspector and two of his friends yesterday became the latest casualties of the fundamentalist Boko Haram onslaught in Maiduguri, the Borno State capital. The sect had on Saturday opened fire on a Joint Task Force (JTF) team along the Abagannaram/Railway Quarters in Maiduguri, leaving no fewer than 10 people dead. After a gunfight between the sect and the military between 5:30pm and 7:15pm, the JTF claimed three members of the sect were killed. Also during the Saturday siege, the sect members were said to have brought a rocket launcher which they used in attacking Lamisula Police Station. Many residents, who were caught up by the curfew, passed the night on the road. About 10 explosions were heard across the metropolis. Some policemen were reported killed and injured in the gun duel between

rorists anywhere in Nigeria. “Security experts say no Third World country, considering their lean income, can afford such equipment.” Another source said: “A faction of the Boko Haram might have directly or indirectly given the intelligence that led to the arrests of the late Abu Mohammed and his men in Adamawa, Katsina, Kaduna, Sokoto Kebbi and their routing during a Shura Council (highest decision making body) meeting in Layin Hanwa in Zaria and the subsequent rescue mission in Mabera Estate in Sokoto. “Do not forget that Abu

From Joseph Abiodun, Maiduguri

the JTF and the fundamentalists. On yesterday’s attack, JTF spokesman Lt.Col. Sagir Musa, said three persons, including a retired police inspector and two of his friends, were shot dead by the militants. Lt.-Col. Musa said: “Some suspected members of Boko Haram on a Keke NAPEP (tricycle) attacked one of the JTF, Operation Restore Order 1, location at Dala Kafanti in Maiduguri city. The attack was repelled, with the sect members retreated through narrow paths to different locations. “They later reorganised and shot at a retired police inspector and two of his friends, right in front of his house.” Lt.-Col. Musa said after the incident, which occurred at about 1:45pm, the area was cordoned off and searched, but no culprit was arrested and no weapon was recovered. Normalcy has since been restored to the area.

Mohammed broke away and ran a faction of the Boko Haram, until he was arrested March 7, after a gun battle with security agents. He died March 9 from gunshot wounds. “This is to show you that there is deep division within Boko Haram. As a matter of fact, the death of Mohammed and the arrest of some of his men is said to have elicited jubilation in the camp the other faction that variously described the Mohammed faction and men as traitors and betrayers.” The State Security Service (SSS) paraded eight sect members arrested in connection with the kidnapping and kill-

ing of the Briton and the Italian. Three of those arrested Bashir Ibrahim (aka Adda’u); Ibrahim A. Habibu; and Gambo Maiborodi – allegedly carried out surveillance on the hostages in Kebbi State before they were abducted on May 12, last year. Others paraded are: Mohammed Rabiu Adam (aka Dan Hajiya); Abubakar Abdulrahman Habibu; Shittu Salihu; Abubakar Umar and Ahmed Samaila. The suspects are yet to be charged to court. The search for the German may have delayed the arraignment of the suspects in court.

EATH has struck again in the home of the late Deputy Inspector-General of Police (DIG) Haruna John, killing his 82-year-old mother, Mrs Silany John. Apparently the death of her son, whose remains are to be buried on March 31, was too much for the old woman to handle. She died of shock, according to the family. The death was announced at the weekend, barely 12 days after the DIG John died alongside three others, including his orderly, in a chopper crash. The chopper was conveying them from Abuja en route Jos, the Plateau State capital. The late John passed on 12 days after he was decorated with the DIG’s rank by the acting Inspector-General of Police (IGP), Mohammed Abubakar. The ambiance at the John family home at Dorowa, Jalingo –the Taraba State capital – had been gloomy at the weekend. Sympathisers were trooping in to commiserate with the family since the police DIG

From Tony Akowe, Kaduna

saying doing so could dismember the country. He urged Nigerians, irrespective of their religion and ethnic leanings, to expose terrorists, especially those rooting for the Islamisation of the country. Pastor Oritsejafor said: “Who is Boko Haram? Is there really Boko Haram? There are about 26 different groups - Jihadists and Islamists. They are different groups. It is you - the media that group them together and call them Boko Haram. “So, I don’t even know who they are, but my point is it depends on what you are trying to negotiate or dialogue with them. Will you discuss with somebody who is saying Nigeria must become a Muslim

or an Islamic nation? “I don’t think any sensible government, whether the President is a Muslim or a Christian, will not want to sit down and discuss such a thing because it is the greatest instrument of disunity that this country will ever experience.” Reacting to accusations that he was inciting violence with his call on Christians to defend themselves, Pastor Oritsejafor said: “I sit back and wonder; when I said to Christians ‘defend and protect yourselves’, people said I was inciting violence. It is part of the laws of God. If you will pursue an animal to a point of no return, the animal will turn around to pursue you back. “If you go into a man’s house and said you want to kill him and the man just said to you

‘kill me’ without fighting back, that is called suicide. And if you commit suicide, you will go to hell. So, you are supposed to protect yourself and that is what we are saying and not for the people to retaliate. “We must begin to come together and speak as one. There are Muslims who are wonderful and good people. We are reaching out to them. We are looking for them to come and join us and let us work together and speak with one voice. Let us not attack each other; let us not go against each other. “When you see Christians coming out and talking strong, it is the pains they are feeling. Let me be honest with you; they are the people who are suffering most and that is why you see them talking and

•John ... at the weekend

Fed Govt, GE in $10b power deal Continued from page 1

tion by 2020. He said: “To have a company willing to work with us on the delivery of 10,000MW is a show of confidence in Mr. President’s vision. “Even if the equity is one per cent, it is still significant because it will take us somewhere. And with 15 per cent, Federal Government will provide the balance.” He explained the government will not be involved in any of the projects, but will provide guarantees for the private sector participants. He said: “The local content will be huge power because GE and any other foreign investor must have local partners.” The minister said what the government and GE had signed after a meeting with President Goodluck Jonathan in Abuja, was a series of general agreements for support in various sectors of the economy including power, transportation, especially rail, and health. He said: “What we are doing today is the culmination of

CAN president kicks against Fed Govt, Boko Haram talks RESIDENT of the Christian Association of Nigeria (CAN) President Ayo Oritsejafor has dismissed any plan for talks with Boko Haram. In his view, the greatest disservice the government could do to the unity of the country is negotiating with the sect. According to Oritsejafor, it will be the greatest instrument of the nation’s disunity ever experienced since independence, should the government decide to sit on the negotiating table with the dreaded Islamic sect. The CAN president, who spoke at the 46th Convention of the United Church of Christ in Nigeria, held at the weekend in Kaduna, warned of the consequences of discussing with the sect,

From Fanen Ihyongo, Jalingo

passed on. But the traffic of sympathisers tripled when the news of the late John’s mother’s death was broken. The late John’s aged father has been taken away from the house. He is yet to be told of his wife’s death. “He has not been told for fear of a third tragedy,” a family member disclosed. The late DIG’s younger brother, Yusuf John, when asked about funeral plans for the dead, said the family was perplexed. “We don’t know what to do now. Everybody (in the family) is confused,” Yusuf said.

expressing themselves the way they do because of the pains they feel and not because they don’t want one Nigeria.” A communiqué issued by participants at the end of the convention condemned what they called wanton killings of innocent citizens and the destruction of properties by the Boko Haram extremists. The communiqué signed by Rev Emmanuel Dziggau, reads: TEKAN churches in the Northeast have suffered colossal damage in the hands of this sect. We are, therefore, holding Northeast responsible for this act of evil against Christianity “The body is also calling on the Federal Government to partner with developed countries to assist in curbing this Boko Haram menace.”

a series of work done, some behind the scenes, and some in the open. With the meeting between President Goodluck Jonathan and the Chairman of GE last month in Abuja, there was a narrowing of areas of focus for the country and GE to collaborate on specific areas of focus. “Accordingly, GE developed MoUs specific to the various sectors, and today, the MoU we are signing relates to power alone.” Nnaji described the $10 billion as very ambitious in the face of the cash crunch at the international capital market and noted that with GE’s cash and government’s bank guarantees, the projects would become much more bankable, as investors can approach financial institutions to raise funds. He noted that the relationship between the government and GE is a long term one, as the energy company has moved from just being a supplier of power equipments in the country, to being an equity investor. “The MoU creates a relationship that will allow GE to not just sell turbines to Nigeria, but also have equity participation in collaboration with the government and private sector,” he said GE’s President, Sub-Sahara Africa, Mr. Jay Wileman, said with the signing of the MoU, things can get rolling because now is the beginning of the real work of delivering power in the country. He recalled the discussions with GE started in 2009, adding that with the MoU, Nigeria has become “the epicentre of GE’s focus and we will be bringing in our experience, and partners to demonstrate our capacity.” Nigeria’s Acting High Commissioner in Britain, Ambassador, O. Anozie, said the epoch making event complements Mr. President’s reform agenda, particularly in the area of power which he identified as a prerequisite for economic and national development.

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THE NATION MONDAY, MARCH 26, 2012

NEWS CNPP raises alarm over plan to rig 2015 polls From Gbenga Omokhunu, Abuja

HE Conference of Nigeria Political Party (CNPP) yesterday raised the alarm over what it called a ploy by the Peoples Democratic Party (PDP)’s plan to rig the 2015 election. The opposition parties, in a statement by its National Publicicty Secretary Osita Okechukwu, said: “It is our considered view that unlike Governor Nyako, Nigerians are not going to ask President Jonathan, who to vote for in 2015 nor concede; more so when he had said he is not running and indeed the Supreme Court latest judgment on tenure had shut him out from running. The judgment ruled stating that no person shall be governor or president for more than eight years.” The statement said: “Conference of Nigerian Political Parties (CNPP) alerts Nigerians and international friends of Nigerian democracy who have invested heavily in our fledgling democracy that the PDP, in the name of National Convention to elect its National Executive Committee (NEC), has flagrantly against the best traditions of democracy; flagged-off the rigging of the 2015 general elections with guided election. “Our strident alarm over commencement of rigging of 2015 is predicated on the fact that PDP is the mirror, poster and sign post of current Nigerian democracy to undiscerning observers and the outside world. “The world mirrors Nigeria from the actions and inactions of the PDP, the party has defined the bad image of the country for the worst; having been in control of the Federal Government in the past 13 years and in government in 23 of 36 states of our dear country without commensurate results. For the avoidance of doubt, can any reasonable person expect the PDP which rigged and bastardised internal democracy, ...stop vote rigging?”

•From left: Lagos State Commissioner for Economic Planning and Budget Ben Akabueze, Chief Operating Officer, Dangote Group Olakunle Alake and Chairman Goldman Sachs Asset Management Jim O’Neill, at the recently concluded ‘The Times CEO African Summit’, in London

ACN: PDP convention is one-man-show

HE Action Congress of Nigeria (AC N) yesterday described the national convention of the Peoples Democratic Party (PDP) as a Kangaroo meeting, which has sealed the party’s fate. It said the weekend convention has marked the PDP out as a oneman-show that is totally contemptuous of internal democracy. In a statement in Lagos by its National Publicity Secretary, Alhaji Lai Mohammed, the party also described President Goodluck Jonathan as an emerging dictator who, in the process of remaking the PDP in his own image, has pushed the party into the realms of abyss. It said Jonathan must by now be regretting the day he took a swipe at other political parties for lacking in internal

•Party says Jonathan is emerging dictator By Nneka Nwaneri

democracy, when his party cannot even spell the word ‘democracy’, not to talk of possessing it. ‘’Only a few weeks ago, President Jonathan said the PDP is the only truly democratic party in the country, while all others are mere one-man shows. In making the statement, the aphorism that ‘he who lives in a glass house does not throw stones’ was lost on the President. ‘’Today, the joke is on the same President, who cajoled and armtwisted others to step down for his anointed candidate as Chair of the PDP during a mock convention. It is now obvious that

President Jonathan either does not understand what internal democracy means, or he is being deliberately cheeky in castigating other political parties for lacking in internal democracy,’’ it said. ACN said with the PDP convention debacle, coming shortly after he single-handedly installed the governor of his state - against all democratic tenets - President Jonathan has finally jettisoned all pretence to being a democrat, and has transformed from a closet dictator to an Emperor and a Maximum Ruler of the PDP kingdom. The party said: ‘’Interestingly, the President, in a speech read on his behalf by Vice-President Na-

madi Sambo at the so-called convention, described the PDP as the ‘strongest party in the history of the country’. What he does not realise is that resorting to brute force and arm-twisting to achieve a pre-determined goal do not constitute strength in politics. “Rather, they are the early signs of megalomania and the onset of full-blown dictatorship.’’ The party said the situation is compounded by the fact that the PDP is the ruling party, adding: ‘’If there is any truth in the saying that no one can give what he does not have, then the PDP as a ruling party is incapable of sustaining or deepening democracy in the country, hence should be voted out of power by the good people of Nigeria at the next general election.’’

Conference raises concern over fate of Tobacco Control Bill Many participants at the World Conference on Tobacco or Health (WCOTH), which ended in Singapore at the weekend, are worried that several months after the National Tobacco Control Bill was passed, President Goodluck Jonathan is yet to sign it into law, reports OLUKOREDE YISHAU

WO days ago, the global community ended a conference where it was agreed that health should take precedence over financial gains from the tobacco industry. The World Conference on Tobacco or Health (WCOTH), which ended in Singapore at the weekend, showed that the tobacco epidemic must be curtailed before it increases the number of people it kills above its current benchmark of 6 million annually. Two reports released at the conference, the Fourth Edition of the Tobacco Atlas and the Tobacco Watch, paint the gory picture of the state of things. The reports show that Nigeria is at risk, if the National Tobacco Control Bill is not passed into law by President Goodluck Jonathan. The Tobacco Atlas puts the cost of tobacco smoking to the Nigerian economy in terms of losses to treatment and low productivity at $591m annually. It said 17 billion cigarettes are produced in the country annually and showed that more people are getting into tobacco use. Many participants at the confer-

ence kept asking the Nigerian contingent while the Bill passed by the National Assembly remains unsigned. They are of the view that with no law regulating the industry, initiatives to fight the epidemic in the Third World, such as the $200 million worth initiative announced by New York Mayor Michael Bloomberg, will achieve little result. President of the Washington DC-based Campaign for Tobacco Free Kids (CTFK) Matt Myers urged Jonathan to sign the Bill. Myers said: “If I meet President Goodluck Jonathan, I will tell him that one thing he needs to do quickly that will save the lives of many Nigerians is to sign the Tobacco Control Bill and guarantee that the country will implement it right away. If the Tobacco Bill is signed and implemented, it will save literally over the course of time millions of Nigerians from death. Most importantly, it will protect Nigerian young people from lifetime tobacco addiction and premature deaths.” Environmental Rights Action’s (ERA) Director, Corporate Accountability, Mr. Akinbode Oluwafemi, said the Bill is a do-

mestication of the Framework Convention on Tobacco Control (FCTC), the first global health treaty developed by the World Health Organisation (WHO), which Nigeria has ratified. Oluwafemi said: “The FCTC is one of the most successful international conventions. It includes other specific steps for governments addressing tobacco use, including to: adopt tax and price measures to reduce tobacco consumption; create smoke-free work and public spaces; put prominent health warnings on tobacco packages; and combat illicit trade in tobacco products. “The big tobacco are doing their best to ensure regulations are not enforced in line with the FCTC by using tactics hidden under Corporate Social Responsibility (CSR) to hoodwink people in government into toeing their way at the risk of the people’s health. These tactics include: partnership agreements between government and industry; industry-run programmes claiming to prevent youth smoking; and training for farmers.” Communications Manager, Africa Tobacco Control Regional Initiative (ATCRI), Mr. Adeola

• Myers

Akinremi, urged Jonathan to sign the Bill into law. Speaking at the WCTOH, Akinremi said: “President Jonathan should assent the bill, which is capable of saving lives of

many Nigerians in the long run.” Akinremi noted that the signing of the bill will help the cause for which the New York mayor has been committing his personal funds. For Akinsola Owoeye of the Nigeria Tobacco Control Alliance, there are several reasons why the Bill must be signed. Owoeye said: “Despite the promises made by the government and tobacco industry, death toll began to rise in Nigeria after BAT came in. A survey in Lagos State showed an increase in smoking prevalence from 8.9 per cent to 10 per cent, and prevalence of heavy smoking which rose to 16.3 per cent. It also shows that two persons die in the state daily from tobacco related diseases. Using the conservative estimates of Lagos State, it means each state in Nigeria has spent at least N2,847,000,000 ($ 18,058,992) to treat smokers in hospitals. Multiply that amount by the 37 states in Nigeria, it also means that Nigeria lost N105,339,000,000 ($668,182,708) in one year. If this figure is justifiable, it clearly make nonsense of the 10 billion naira ($6,343,165) per year, tax paid by BATN.”

THE NATION MONDAY, MARCH 26, 2012

CITYBEATS

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Lagos-Kano train services commence in April - NRC THE Lagos - Kano train services will start by next month. Managing Director of the Nigeria Railway Corporation (NRC), Seyi Sijuade has assured Nigerians. He also said full trail services will commence all over the country before the end of the year. Sijuade disclosed this at the weekend in Akere, in Wushishi Local Government area of Niger State after inspecting the ongoing work at Akere end of the Lagos- Kano rail network was washed away by flood last year. According to the NRC boss the resumption of train services from Lagos to Kano was delayed as a result of the portion of the rail line and the bridge washed away at Akere. According to him, "with the fixing of the flooded area, the construction of a new bridge, the re-enforcement of the old one, the additional culverts and embarkment, the major problem hindering the taking off of train operations between Lagos and Kano is over."

•Fathia Balogun

Fathia Balogun, Iyabo Ojo, others star in Mama Insurance TALENTED actress Liz Da Silva, who has become a household name in the Yoruba section of the Nigerian movie industry has just released an all-female cast movie entitled: Mama Insurance. The film, which was shot last year in Victoria Island Lagos, engaged renowned and gifted role interpreters in the industry. Directed by Adebayo Tijani, the film parades Fathia Balogun, Iyabo Ojo, Ayo Mogaji, Lanre Hassan, Ronke Ojo among others. The movie centers on an educated landlady (played by Ayo Mogaji) who leased her house out to four female tenants; Fathia Balogun (banker) Liz Dasilva (Fraudster), Iyabo Ojo (Christian). The landlady who is also seen as a disciplinarian loves just one of the tenants (Liz Dasilva) who unknown to her is a fraudster. The movie according to Liz Dasilva was borne out of the need to do something unique. It is expected to hit the shelves in a couple of days.

• Chief of Naval Staff, Ola Ibrahim

• Happiness

Suspects implicate Naval rating, police over child's kidnap

WO suspects arrested by the police over their involvement in the kidnap of a three week-old baby girl, allegedly thrown into the lagoon at Liverpool by a Naval Rating, Joseph Moses, have confessed. They have also accused the investigating police officers at Ajoromi Police Station of alleged bribery. According to the suspects, four other suspects were arrested along with them but were granted bail in the sum of N20,000 each. The suspects are demanding that those other suspects who were released and the Naval Rating should be immediately arrested by the police for justice to be properly done. The Naval Rating is the father of the baby that was thrown into the Lagoon. The three weeks old baby a love child between the Naval Rating and one Happiness was kidnapped by some hoodlums on February 10 at the instance of her father. It was gathered that the Nigerian Navy is yet to hand the suspect over to the police for prosecution. Happiness, the mother of the deceased baby, is alleging complicity and cover up against the Navy. In their confessional statements, the suspects, Peter Elias, 29 and Amadu Bello 21, being held at the State Criminal Investigation Department (SCID), Panti, Yaba narrated how Joseph threw the baby into the lagoon at Liverpool. Amadu who is Joseph's personal motorcyclist, said Joseph masterminded the kidnap of the baby before inviting him to the scene of the crime. "I am a motorcyclist and it was Joseph that gave me his motorcycle to ride for him which I have been riding in the past three months. “That fateful day, February 10, about 4.00am, I saw Joseph's nine missed call on my phone and I called him back, he instructed me to come quickly with the bike to meet him. I rode the bike to him and I saw him standing at Point Road with a cartoon. Before I could ask him what the hurry for, he ordered me to take him to Liverpool bridge where he threw the cartoon into the lagoon. I did not know what was inside the

By Jude Isiguzo

cartoon, but a dagger fell from his hip which he asked me to keep for him. It was after I was arrested that I learnt that what Joseph threw inside the lagoon was his child," Amadu said. Peter, the other suspect said: “The police should investigate the case thoroughly. I am a loader of Dangote products to different parts of the country, but that day, I went to stay with my brother living under the Marine bridge at about 2.00am. I saw six motorcycles and each of the motorcycles had two persons on it. “They came to the Marine bridge rejoicing and the Navy man was with them, most of the boys are Kanuri, there is one called Okocha. Another one was called Danlami, and they were jubilatiing and making noise. It was after they left that I found out from one of the boys that they were hired by the Navy man to kidnap a baby. “I was just sleeping in the house when they arrested me two weeks after the incidence. I do not know anything about this case, but I

know the boys who did it but they have fled the area," Peter said. Peter added that policemen from the Ajeromi police station in Ajegunle arrested four other suspects and later granted them bail. "I am surprised that Yusuf Elia, Dalami and the others who were initially arrested by the police at Ajegunle were later granted them bail in the sum of N20,000. “The police asked me to bring N20,000 for bail, but I said since I do not know anything about this matter, I will not pay. More so, I do not have the money and that was why they transferred us to Panti, whereas, the people who committed this crime have been set free while others have run away. “In order to resolve my innocence, I would appeal to the commissioner of police to investigate this matter very well, because I do not have anything to do with this crime," Peter explained. Access to Justice, (AJ) a non for profit, justice reform organisation in Lagos is set to conduct a coroner inquest into the death of the baby in order to ensure that the case is not swept under the carpet, Joesph Otteh, its Executive Director stated that AJ has taken up the case in order to prevail on the naval authorities to release Joseph to face civil prosecution. "This is not the first time that a case like this is brought against the Nigerian Navy, but what we have experienced is that after a while, the case will not be mentioned anymore and the man will not face prosecution. But in this case, we are going to carry out a coroner inquest into the death of this baby, we want the public to know what happened. We want to hear from the mother of the baby and the suspects.This way, we will lift the burden from the Navy so that the officer will face prosecution," Otteh said. He added that AJ will work with other civil right organisations to build a stronger case for Joseph's prosecution so as to serve as a deterrent to others and also ensure that Glory Yusuf, the mother of the baby, is compensated for the pains and trauma she suffered over the gruesome murder of her baby.

2. Federal Road Safety Corps (FRSC) Lagos Zonal Command Phone No:080-33706639; 01-7742771 Sector Commander Phone No: 080-34346168; 01-2881304

• The students in a group photograph wit

HE Better Life Campaign last week moved around secondary schools in Lagos State to create awareness on the harms of Lassa fever in the society. The fever was discovered in 1969 in Lassa village, Bornu State, where the virus was first found. The viral infection is caused by wild rats which inject the virus into the food they come in contact with and when eaten by humans

S work progresses on the first phase of the 61kilometre Lagos-Badagry Light Rail Project christened the Blue Line, Lagos State Governor, Mr. Babatunde Fashola has wooed British and other investors for the concession of the second part of the rail project christened the Red Line. Governor Fashola, while playing host to the British Parliamentary Under Secretary of State for International Development (DFID), Mr. Stephen O'Brien at the Lagos House, Marina, said the Red Line which, according to him, "is waiting to be taken," offers so much options

Fashola opens TB treatment centre

• Fashola

OVERNOR Babatunde Fashola of Lagos State has commissioned the MultiDrug Resistant Tuberculosis Treatment Centre within the premises of the Mainland Hospital, Yaba. The initiative was in commemoration of this year's World Tuberculosis Day. Fashola, who was represented by his Commissioner for Health, Dr. Jide Idris, explained that the centre is to make treatment accessible and affordable to those who would not

be able to afford the necessary treatment. He said the emergence of multi-drug resistant tuberculosis is of concern to government. He noted that the centre would not only benefit the people, but also serves as an opportunity to raise public awareness on this killer disease, that is curable, preventable and stoppable. The governor stressed the importance of health, which he said affords an individual the opportunity to play his role in contributing to the advancement of the society. He reiterated that his administration’s health policy thrust is to bring health and welfare services within the reach of residents in the state. Fashola explained that the state has increased the number of Direct Observation Treatments, DOTs (TB) centres as well as trained health workers on the management

LAGOS EMERGENCY LINES STATE AGENCIES 4. KAI Brigade Phone Nos: 080-23036632; 0805-5284914 Head office Phone Nos: 3. LASTMA Emergency Numbers: 01-4703325; 01-7743026 080-75005411; 080-60152462 5. Rapid Response Squad (RRS) 080-23111742; 080-29728371 Phone Nos: 070-55350249; 080-23909364; 080-77551000 070-35068242 01-7904983 080-79279349; 080-63299264

1. Fire and Safety Services Control Room Phone Nos: 01-7944929; 080-33235892; 080-33235890; 080-23321770; 080-56374036.

Group

070-55462708; 080-65154338 767 or email: rapidresponsesquad@yahoo.com 6. Health Services – LASAMBUS Ambulance Services Phone Nos: 01-4979844; 01-4979866; 01-4979899; 01-4979888; 01-2637853-4; 080-33057916; 080-33051918-9; 080-29000003-5.

of TB at the Mainland Hospital, to be able to respond to epidemics of communicable diseases by putting in place a disease surveillance and notification machinery responsible for the tracking, reporting and responding to incidences of communicable diseases in the state. The governor urged those infected to adhere to all the treatment procedures received at the centre and after discharge stay healthy by eating lots of vegetables, exercise daily, as well as stop alcohol ingestion, drug abuse and smoking. Earlier, the Minister of Health, Professor Chukwu Onyebuchi, stated that the emergence of MultiDrug Resistant Tuberculosis poses a major challenge to the global effort at stopping TB. He added that not only is the diagnosis difficult, it requires special skills and equipment as well as long hospital admission. According to the Minister, the Federal Government considers the challenge serious and as such has put in place MDR TB reference laboratories in various National Specialists Hospitals and Research Centres across the country. "Government shall develop more efficacious vaccines, increase public awareness and ensure that patients present early for treatment. We shall continue to improve access to diagnosis and provide treatment", he said.

THE NATION MONDAY, MARCH 26, 2012

08033054340, 08034699757 E-mail:- ynotcitybeats@gmail.com

sensitises pupils on Lassa fever

h with the organisers By Nneka Nwaneri

results into sickness. Earlier in the week, students from Poise Graduate Training Finishing School, Ilupeju visited students of Topflight College, Gbagada, to donate medical items sponsored by Greenlife Pharmaceuticals. Some of the items included Vitamin C, Multivitamin, Lonart Malaria drugs and rat

PHOTO: NNEKA NWANERI

gums as ways of preventing the outbreak of the epidemic and to equip the schools' sickbay. A talk was given by the CEO of Nature Tips Services, Dr Stella Ogugbue, who addressed the students on the causes and prevention of epidemic, which if not properly managed could lead to death. The disease, she said is carried by wild rats which

loiter around dirty places. She charged the students on their responsibility in ensuring that their homes and school environment are clean at all times. She reiterated that cleanliness is the only way of avoiding the menace. She gave measures to prevent the spread. "Refuse should be properly disposed in disposal nylons. The gutters around should be thoroughly cleaned and unwashed plates should not be left overnight. Kitchen utensils should be well kept and foodstuff should be covered in tamperproof storage containers," she said. She assured that when the surroundings are neat at all times, rats will have no habitable environment. The incubation period of the virus according to her is between four to six weeks and is often mistaken for the malaria fever as it shares resemblance in symptoms such as high temperature, severe headache and loss of appetite. The virus also causes conjunctivitis and muscle cramps. "The environment should be fumigated from time to time- prevention, she said is better than cure as it kills 5000 people annually in West Africa. Dr Ogugbue attributed the proness of the disease to the common trend in lifestyle.

RESH facts emerged over the weekend concerning alleged visa racket levelled against a Managing Director who was arrested by operatives from the Special Fraud Unit (SFU), Ikoyi Lagos last week. The Managing Director of Global Edge Consulting Limited, Mr. Aliu Nurudeen Ajibola, has vehemently denied ever being involved in any visa racket. He said the allegation of his criminal involvement was ridiculous since he had never scammed anyone, let alone over 500 victims. A few weeks ago, there were rumours that Ajibola's Ojota office was besieged by aggrieved persons who applied for Diversity Visa Lottery (DVL) to the United States of America and Issuance of Residence/ Work Permit in Canada and Australia respectively. Some of the victims allegedly claimed to have paid N4, 000, while others said they paid hundreds of thousands of naira to enhance their chances of traveling overseas.

'My visa scam allegation is false' By Jude Isiguzo

The victims were supposed to have a one day seminar on work permit organised by Ajibola's company. The seminar which never took place triggered suspicion from some of the victims that they might have been fleeced. Spokesperson for SFU, Mrs. Ngozi Nsitume, an Assistant Superintendent of Police (ASP), explained that Ajibola was arrested following a formal complaint to the unit. She alleged that Ajibola through his company had defrauded over three thousand Nigerians, who wanted to travel to Canada. Reacting to the allegation, Ajibola insisted that the one day seminar was supposed to hold, but not on the day claimed by police. He also denied that angry applicants stormed his office with the intention of burning it. He explained

that the seminar was billed for February 4, 2012. According to him, over 400 applicants gathered on the said date, at Etal Hall, Ikeja with his colleague, Ade Mabo, a Canadian resident and a white instructor, on ground to receive them. The white instructor, who identified himself as Kent, a Canadian citizen, said his job was to tell the applicants about the culture, friendliness and reception of Canadians towards visitors. "The seminar was never a fraud! This company is into purchasing of brand new and used vehicles for clients, like banks. We're also into immigration services. We play advisory role towards purchasing of visas. We are not embassies. We're not affiliated to Canadian Embassy. We're not staff of Canadian Embassy. We are not their agents,â&#x20AC;? he said.

Light rail: Fashola woos British, other investors for collaboration. Recalling that the first rail in Nigeria was built by the British, Governor Fashola declared: "With the very strong history and experience your country brings into rail development, I think that this is where rail operators should be heading. The transportation business here is very serious business. It is big, growing and it is not near its full potential yet." Fashola said his administration would also welcome both ferry terminal and operators to take operational concession for water transportation in the state. He pointed out that the government has already completed three ferry terminals and hope to find serious operators to concession them to. Expressing his willingness to discuss details of such collaboration, Fashola said the best way would be for a British business delegation to visit Lagos and spend some days during which the entrepreneurs would go from sector to sector to see what opportunities for investment appeal to them. "You cannot effectively market Lagos on slides and videos. It is for you to see not only the challenges, but also the opportunities that lie side by side, if not inherently, in those challenges," the Governor said. He suggested that the coming Easter Carnival might be a good start for the entrepreneurs to see what investment opportunities lie in tourism in the state. On the on-going Blue Line project, Governor Fashola said that his administration

thought it inconceivable that the city could continue to grow without a sustainable intra-city mass transit programme. He added that the government thought that although the Bus Rapid Transit (BRT) system was making tremendous progress, it could not sustain the growing population alone. "We are developing the water sector and integrating ferries and rail now at different levels of work in progress. But in our Masterplan, they are fully integrated and will begin to connect where they are not already doing so", he said adding, "For us, the idea to start the infrastructure was both

instructive and deliberate." Fashola said the thinking of government was that "with the growing population, it was necessary to provide the infrastructure that will enable our people to actualize their dreams. "We know that as a government, we are limited to what we can do. Our biggest contribution would be to enable things to happen, unleash power of people and, therefore, we know that their normal needs are Shelter, Clothing, Housing, Feeding, Healthcare and the provision of the environment that will enable that to happen is our responsibility", the governor said.

â&#x20AC;˘ Cross section of participants

PHOTO: JUDE ISIGUZO

Law to regulate Okada coming

LL hopes may not be lost for operators of commercial motor cycle popularly call Okada in Lagos state as the State House of Assembly has taken steps to regularize their activities through the passage of a law instead of banning them out rightly . To this end, the House has

â&#x20AC;˘Work on the Lagos light Rail Project in progress at Doyin Bus Stop, on Lagos Badagry Expressway

By Oziegbe Okoeki

directed its Committee on Transportation, Commerce and Industry to liaise with Ministry of Transportation to present a bill for the amendment of the existing traffic regulations and laws to identify grey areas in order to accommodate all

PHOTO: NAN

present challenges experienced by commercial motorbike operators in the State. Presenting the report before the House, Chairman of the ad hoc Committee setup to look into the activities of the Okada riders in the State, Hon. Sanai Agunbiade said that the proposed bill should address the restrictions on area and closing time while taking cognizance of owners of motorbikes that use same purely for personal means of transportation within the State. The recommendations also stipulated that no rider should be allowed to operate in the State without a riders permit and except he is attached or registered with an approved park. It also suggested that private owners who use bikes as means of transportation and business carrier should not be eligible to have any other person to ride with him/her on the motorbike and must conspicuously display card, while commercial riders must be restricted to specific number of passengers. The House further recommended that there should be stipulated offences that will automatically qualify a motorbike either private or commercial to being impounded irrevocably.

THE NATION MONDAY, MARCH 26, 2012

NEWS Ex-Senator joins Ondo race From Leke Akeredolu, Akure

A FOURTH Republic Senator Omololu Meroyi at the weekend joined the Ondo governorship race on the platform of the Action Congress of Nigeria (ACN). Meroyi, who dumped the Labour Party (LP) this year, was the former LP Vice-Chairman in Southern Senatorial District. At a news conference in Akure, the state capital, the former senator, who traced his involvement in politics to the era of the Unity Party of Nigeria (UPN), spoke of the need to reposition the state. He said Ondo people are yearning for good governance. Meroyi said: “My interest in the governorship seat is premised on the fact that the LP government has been acting as if it is bereft of ideas. The government is in serious debt and Ondo is one of the states under the close watch of the Central Bank of Nigeria (CBN). “Our account is in the red, not because we are building any industry that will improve our economy, but because of the award of mega contracts to paint roads and build bridges and fountains that can only add negligible value to the life of our people. “The government delights in mega cities and mega schools, among others, but has failed the people.” Meroyi urged the people to vote for the ACN at the next election.

PUBLIC NOTICE This is to inform the general public of loss of Land instruments, Lease regd as 45/45/ 273, power of Attorney regd as 41/41/291, 35/35/1497 and 18/18/1602. Agreement regd as 53/53/308, Assignment regd as 68/68/372, 26/26/1057 and 87/ 87/1423 belonging to UCB Micro Finance Bank, Anambra. Also Building Lease regd as 48/48/63 of land at Asata belonging to Dr G.O. Mbanugo

Ogun killings: Govt to create grazing for herdsmen T

HE Ogun State Government has proposed an official grazing in Yewa North Local Government for the Hausa/ Fulani/Bororo herdsmen and their cattle. This is to check the incessant clashes between the herdsmen and residents, which have led to several deaths. The government said the official grazing would keep the cattle away from farmlands and prevent them from

From Ernest Nwokolo, Abeokuta

polluting streams and degrading the environment of host communities. Commissioner for Local Government and Chieftaincy Affairs Muyiwa Oladipo said security men would patrol the grazing to prevent robberies, cattle theft and other crimes.

Oladipo spoke at the weekend in Abeokuta, the Ogun State capital, during a meeting with monarchs of Yewa communities and representatives of the herdsmen. He said: “I assure all our Hausa/Fulani brothers that Ogun is one of the most accommodating and hospitable states in Nigeria. We

must build a lasting relationship, which will pave the way for socio-economic development. “We should understand that in every society, there is bound to be conflicts, but the spirit of tolerance, perseverance and brotherliness should be allowed to prevail.” The commissioner said the government would set up a committee to ensure lasting peace among the parties.

•Ekiti State Governor Kayode Fayemi (second right); World Bank Country Director, Nigeria, Ms. Marie-Francoise MarieNelly (left); Special Adviser to the Governor on Tourism Segun Ologunleko (second left); Project Architect Mr. Sola Oyelade (middle); and Commissioner for Integration and Inter-governmental Affairs Mrs. Bunmi Dipo-Salami, during a visit by the World Bank Team to the Ikogosi Warm Spring Resort, Ikogosi-Ekiti ...at the weekend.

Odigbo LP Leaders, supporters join ACN

EADERS and supporters of the Labour Party (LP) in Odigbo Local Government Area of Ondo State at the weekend defected to the Action Congress of Nigeria (ACN). The defectors included officials and members of the National Union of Road Transport Workers (NURTW), the Road Transport Employers Association of Nigeria (RTEAN), the Association of Restaurant Owners, LP Forum on the Benin/ Ore Expressway and artisans. Among them were the LP Chairman in the area, Mr. Isiaka Raji; Oni Olawale; Pastor Samuel Arogundade; Mr. Adesoye Fatai; Mr. Lawal

From Damisi Ojo, Akure

Waheed, Mrs. Rebecca Afolabi and Saheed Waheed. Others are Adekunle Basiru; Mrs. Adedeji Wunmi; Paul Friday; Adeoye Kolawole; Muftau Mukoro and Mrs. Toyin Raji. They said they dumped the LP because the state government has failed to carry them along, even though they worked hard for the LP’s victory in 2007. The defectors said their mentor and former aide to the governor, Mr. Saka Lawal, has joined the ACN and they have to follow him to facili-

tate the desired change in the state. They said: “We are in solidarity with Lawal, now a governorship aspirant of the ACN. He is an outstanding leader. He assisted many of us on various issues while he was a Special Adviser.” Also at the weekend, Lawal met with a politician and community leader in Ore, Chief Adeyanju Ajani, a.k.a. Baba Legba, to seek his support and that of the people in the council. Ajani decried the “segregation” between indigenes and non-indigenes by the administration of Governor

Olusegun Mimiko on political appointments. He said he would work towards the ACN’s victory in the coming election. Lawal also visited the management of a private radio station in Akure, Adaba FM. He thanked the station for its “unbiased reporting”, which he said has been promoting the ethics of journalism. The station’s General Manager, Mr. Martins Ayoola, said Adaba FM would continue to be fair to all groups and individuals, irrespective of political dichotomy.

Panel revisits petition against Daniel

HE Ogun State Judicial Commission of Enquiry on Land Matters has revisited a petition filed by the Dipo Dina Movement (DDM), alleging that the land on which former Governor Gbenga Daniel built his home in Sagamu, called Asoludero Court, is government’s property and was acquired illegally by Daniel. DDM also alleged that the land on which Master Line Investment Properties Limited, a company in which Daniel has interest, is situated, was originally the Judges’ Quarters in Ijebu Ode. When the matter came up last week, counsel to Daniel and Master Line Investment Properties Limited, Mr. Gbenga Ojekunle, said his clients sought and got approval from the Bureau of Lands and Survey regarding the lands.

From Ernest Nwokolo, Abeokuta

He said payments were made in respect of the lands, adding that the structures found on them were already dilapidated. On Daniel’s interest in Master Line Investment Properties Limited, Ojekunle said the former governor used to be a director in the company, but

relinquished the position before his assumption of office. A director at the Bureau of Lands and Survey, Alhaji Ganiyu Busura, said the former Director-General of the Bureau, Gbenga Ogunoiki, approved the allocations. Busura said government structures were on the lands before they were allocated.

Osun to assist 130 graduates in farming

SUN State Governor Rauf Aregbesola has said the government will assist the 130 graduates of the Leventis Foundation Nigeria Agricultural School, Ilesa, to boost food production. He said the graduates would be grouped into farmers’ co-operative societies and will specialise in any of the four agricultural value chains - production, extension services, processing and marketing. The state Coordinator of the Quick Impact Intervention Programme (QIIP), Mr. Dele Ogundipe, announced this at the weekend, while informing the graduates of the governor’s plan to absorb them into his administration’s food security programme. Ogundipe said: “For those ready to go back to the land, the governor is ready to support you.” Ogundipe, who was accompanied by the Deputy Director of Co-operative Services in the Ministry of Commerce, Industry and Co-operatives, Mr. Kayode Adetunji, said it would be easier for the government to reach the farmers through the co-operative societies. He said facilities provided by QIIP involve supervised lending, which requires beneficiaries to deposit 10 per cent of the intended loan. Ogundipe urged the farmers to be honest and hardworking to fully enjoy the opportunities provided by the Aregbesola administration. Principal of the school Dr. Yinka Popoola thanked the governor for his intervention, which led to the re-opening of the school. The school closed down in 2006, following the nonpayment of the counterpart fund to the sponsoring organisation. Aregbesola offered to pay the counterpart fund, which saved the school from being relocated to and merged with the Ido-Ani campus in Ondo State. Popoola said the school, which was established by the late Chief Obafemi Awolowo to train farmers, did not enjoy any government’s presence until the emergence of the Aregbesola administration. He advised the graduates to put their training to good use and contribute to the success of the government’s food security programme. The graduates were divided into 13 groups of 10 members each to make their registration with the state government easy.

Court begins hearing in suit against Ondo

HE Court of Appeal sitting in Akure, the Ondo State capital, will today begin hearing in suit filed by an Akure lawyer and rights activist, Titiloye Charles. The lawyer is challenging the increment of court fees by Governor Olusegun Mimiko. He urged the court to

From Damisi Ojo, Akure

declare the increment illegal and contrary to Section 274 of the constitution, which he said confers such powers on the Chief Judge of the state. Charles argued that the judiciary is for adjudication and not revenue generation.

The lawyer said his poor clients are finding it difficult to pay the N2,000 for affidavit ordered by the governor. Last November, the court refused the state government’s application for the dismissal of the suit. Justice Kudirat KekereEkun ordered accelerated hearing of the case.

THE NATION MONDAY, MARCH 26, 2012

NEWS

Ondo LP’s plan to polarise opposition parties uncovered

NDO State Governor Olusegun Mimiko has allegedly launched a surreptitious plan to woo members of the opposition into the Labour Party (LP). The governor is said to be jittery, following the rising profile of the Action Congress of Nigeria (ACN). There have been massive defections of LP stalwarts to the ACN. It was gathered that the governor has mandated some of his aides to lure opposition leaders to the LP. A government source, who pleaded not to be named, said the ruling party plans to woo politicians with monetary incentives

From Damisi Ojo, Akure

to pitch their tent with the LP. One of the governor’s aides in the Peoples Democratic Party (PDP) is said to be sponsoring a parallel executive in the party, which is divided. This was evident in the last PDP congress held in the Sunshine State, as a splinter group sued the executives. A source said members of the splinter group were bribed. It was learnt that the governor is making a similar move to cause confusion in the ACN camp by allegedly financing the campaign of some of his aspirants.

An aspirant, who is believed to be sponsored by the governor, has erected billboards in all the three senatorial districts. It was gathered that the governor has embarked on massive propaganda to discredit ACN leaders and aspirants. The information ministry has been accused of sponsoring publications to paint ACN leaders in a bad light. But an official of the state government, who pleaded not to be named, said the projects executed by Mimiko put him in a vantage position to rule the state for two consecutive terms without inducing people with money.

HE Ondo State branch of a Non-Governmental Organisation, the Action Youth Movement (AYM), has accused the state government of buying “phony” awards with tax payers’ funds. The group said: “It is worrisome that Governor Olusegun Mimiko has continued to pay huge amounts for awards, just to portray his government as ‘working’.” In a statement, AYM’s President Mr. Dada Olawale Eminence alleged that the governor has spent over N500 million on “phony awards” in the last six months. The statement reads: “We have watched, in the last six months, the way the governor has been using government money to buy awards from various organisations to deceive the world that his government has achieved a lot. “These awards are nothing but deception of the highest order. We have it on record

Mimiko accused of spending N500m on awards From Damisi Ojo, Akure

that the governor has spent over N500 million on these phony awards, leaving the people of the state to wallow in abject poverty. “The governor does not deserve the awards being showered on him. In fact, he has put in place projects that are considered as misplaced priorities. The Mega School is a typical example. The mega primary schools have been considered a sheer waste of resources, because the schools are not mega by their structures. “The governor abandoned the State University of Science and Technology in Okitipupa, which was initiated by his predecessor, and wasted billions of naira on mega primary schools. The School of Nursing is in a shambles and the

state university at Akungba Akoko is begging for development. “It is sad that the governor has embarked on massive propaganda on the state media, painting a situation that Akure has been totally transformed. Except for the water fountain and the obsolete roundabout, there is nothing new that will impress anyone who has not been to Akure in four years. “The present administration has failed to justify the huge amount it has received from the Federation Account. Its projects are nothing but mere cosmetic to deceive the good people of Ondo State.” A government source debunked the allegation, saying Mimiko’s achievements in the last three years “is a revolution in governance.”

THE NATION MONDAY, MARCH 26, 2012

NEWS

‘Tompolo qualified to get N16b maritime contract’

Oshiomhole lauds Benin monarch

DO State Governor Adams Oshiomhole has said Nigeria

needs more statesmen like the Oba of Benin, Oba Erediauwa, who will stand for the truth at all times. In his goodwill message to the Oba on his 33rd coronation anniversary, Oshiomhole said: “May I respectfully convey to your majesty the felicitation of the people and government of Edo State on the occasion of your 33rd coronation anniversary. “We thank God for your life, health and vigour as well as for the profound wisdom with which you have provided a positive direction for the people. “In these 33 years, Edo State has witnessed a series of triumphs and travails. However, our monarch has never changed. Your majesty has gracefully and consistently embodied the dignity and aspirations of Edo people. “You have also remained the fountain of our collective hope and the source of our determination to make a positive difference in the Nigerian polity. “The impact and import of the person and the institution of the Oba of Benin is both national and international. Globally, you represent a window into the richness of our glorious ancestry and the nobility of the black race.” “Nigeria needs more statesmen like you, who can stamp their unimpeachable moral authority on governance. Therefore, our prayer is that the good Lord continues to preserve you for the good of us all. We pray that God should bless you with the best of health and vigour.” “Please, accept once again our hearty congratulations. This comes with the renewed assurances of my highest esteem and my profound appreciation for your continuous support.”

Ex-militant hails Jonathan From Polycarp Orosevwotu, Warri

N ex-militant, Moses Gbogun, has hailed President Goodluck Jonathan for rehabilitating and reintegrating ex-militants. Gbogun spoke at the Osubi Airport in Warri, Delta State, on his return from his training in Marine Engineering in Florida, United States of America. He said he was impressed by the opportunity given by the Federal Government to undergo this training and be useful to his great country Nigeria. “I want to use this opportunity to thank President Goodluck Jonathan for his benevolence in making the amnesty work. “I also want to hail the commitment of the Presidential Adviser on Amnesty, Kingsley Kuku.” He described the amnesty as a huge success and praised all those who worked behind the scenes to make the programme a success.

•Tompolo

HE Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Ziakede Akpobolokemi, has condemned criticisms on the award of a N16billion maritime security contract to a company allegedly owned by ex-leader of the Move-

ment for the Emancipation of the Niger Delta (MEND), Government Ekpemupolo (aka Tompolo). Akpobolokemi, who spoke in Oporoza, Gbaramatu Kingdom in Warri, Delta State at the weekend, said the former warlord is eminently qualified for contracts with the agency or any other body. He said NIMASA would not shy away from partnering or awarding contracts to Ekpemupolo. “If the man (Tompolo) tomorrow has a reason to partner with us and we feel he is qualified, who are we not to give him jobs? So let that be made known to everybody in this country. “If it is Tompolo that the contract is awarded to, is he not a citizen of Nigeria? Is

•No apology over the deal, says NIMASA DG From Shola O’Neil, Port Harcourt

he an ex-convict? Is he not more than 18years old to own a company?” The controversial $103.4 million (N16 billion) awarded to Global West Vessel Specialist Nigeria Limited (GWVSNL), to secure the nation’s coastline from Calabar to Lagos, had generated widespread condemnation by various interest groups, including the Action Congress of Nigeria (ACN). However, the NIMASA DG said those who are

“grumbling over the project” are those whose “illegal activities” in the maritime domain would be exposed by the contract. “As we speak now , almost all the multinational companies have engaged people to supply them patrol boats that the Navy is using. “Who has raised any dust? In the contest of their projects they were not approved by the highest ruling body in the country,” Akpobolokemi added. He wondered why people are complaining about the

contract that went through ICRC, the PVC, the Attorney- General, the ministry through FEC, reaffirming that those, those against the contract fear for reasons other than its propriety or otherwise. “If he (Tompolo) is coming to provide the logistics, the platforms, the equipment the Navy will use in conjunction with NIMASA to police our maritime domain, what sin have we committed? “They should go back to the Act of NIMASA and they will see that NIMASA has empowered us to liaise with anybody, any individual, any organisation, to partner even with the Navy to do our job. “So we owe nobody an apology to do what is right.”

THE NATION MONDAY, MARCH 26, 2012

APPEAL

LEADERSHIP

Imoke’s wife urges women on discipline

Commissioner advises residents on waste disposal

Cross River 46

Oyo

MONDAY, MARCH 26, 2012

PROTEST

Women protest imposition of candidate Imo

Page 17

Email: news_extra@yahoo.com

Japan’s N1.24b for Nigerian children’s health

APAN has given a grant 600m Yen (approximately $7.85m or N1.24m) to the United Nations Children’s Fund (UNICEF) to help the global organisation’s child survival programme in Nigeria. The grant is for polio eradication, strengthening cold chain system especially for routine immunisation and support for Maternal, Newborn and Child Health Weeks (MNCHWs) in Nigeria. The ceremony of the signing and exchange of notes between H.E. Mr. Ryuichi Shoji, Ambassador Extraordinary and Plenipotentiary of Japan to Nigeria, and Dr. Suomi Sakai,

•Children

UNICEF Representative; and the signing of Grant Agreement between Japan International Cooperation Agency (JICA) and UNICEF, took place at the Transcorp Hilton Hotel, Abuja in the presence of Minister of Health, Prof. Onyebuchi Chukwu. Although Nigeria is making progress in reducing its high child mortality rate, some challenges remain that need to be addressed if Nigeria is to achieve the health MDGs. Childhood killer diseases are still rampant. Although great strides

have been taken in recent past to ensure interruption of wild polio virus transmission in Nigeria, the year 2011 witnessed a setback with a three-fold increase in the number of Wild Poliovirus cases compared to the number recorded for same period of 2010. This calls for the development of a polio emergency plan in Nigeria, which has just been elaborated by Government and partners. This plan needs to be supported by all and this con•Continued on Page 48

E leaned over, lifted a child here and patted another on the back there. He comforted them with words of hope and encouragement as he went from one orphanage to another. For Ekiti State Governor Kayode Fayemi, it was a natural thing to do. The needy are not the happiest in the society. But under his administration, things are different. The government prioritises the downtrodden, providing support and love. In the state, there is automatic employment for people living with disability. Some of them who work in the state civil service told Newsextra they never knew life could be that comfortable for their kind. But what about the motherless or those too ‘challenged’ to work in the civil service? They were the ones Fayemi visited and cheered up on his 47th birthday. He moved from one orphanage home or school to another, making sure every needy child felt his compassion. He lifted the spirits of the motherless and orphans and brought a smile to the faces of those living with disability from one part of the state to another. With him that early Friday morning were his deputy Mrs. Funmilayo Olayinka, his wife Erelu Bisi Fayemi, Founder of Ekiti Development Foundation (EDF), a partner on the state’s philanthropic mission, and other key members of the state executive council. The EDF paid the school fees of 30 orphans and vulnerable children. Some of the homes visited by the governor included The Rehabilitation Centre for the Physically Challenged, Dallimoore, Ado Ekiti and Delightsome Oaks Mission School/Orphanage, Adehun, Ado Ekiti. Others were Erelu Angela Adebayo Children’s Home, Iyin Ekiti and Ben Folarin School, Ado Ekiti, where the EDF paid the school fees and ancillary costs of the orphans and vulnerable children. Fayemi said: “I know it is easier

•Governor Kayode Fayemi, his deputy Mrs Olufunmilayo Olayikan (left) and his wife Erelu Bisi Fayemi, with children at an orphanage

Fayemi cheers up the motherless Governor celebrates with needy children Ekiti foundation pays school fees for 30 orphans From Sulaiman Salawudeen, Ado-Ekiti

for me to celebrate my birthday in company of adult notables, wine and dine with them. But I chose instead to pay you a visit to enable you see that the governor about whom you have heard and seen so much on ra-

dio and electronic media is a person in flesh and blood. “Governance is not always about comfort and personal choices. It most times involves doing things to honour and favour the less privileged. “This coming will also enable you appreciate better what it takes to be a leader as some of you will emerge leaders tomorrow.

At the Ekiti State Rehabilitation Centre, Governor Fayemi donated an electricity generating set and other items. “I have also approved that this home be rehabilitated for you and minimal conveniences such as electrical appliances be provided for you as well,” he said. “I have equally told those who

were intending to sponsor paid adverts in my honour either in print or electronic media to channel such to homes like this or give the money to EDF which will give it institutions in dire need. Fayemi said further: “I know that among us here today, there •Continued on Page 48

THE NATION MONDAY, MARCH 26, 2012

EDITORIAL/OPINION EDITORIAL FROM OTHER LAND

COMMENT

The $12.4 billion judgment •Even a high court justice dithers in pronouncing judgment over this 20-year-old Gulf oil windfall

N any clime and even in ages to come, $12.4 billion will remain a huge pile of money. So, matters concerning it must be weighty. This is especially so when it has something to do with a onetime number one citizen. This is the crux of the story of the estimated $12.4 billion Nigeria earned from increased crude oil export during the Gulf War of 1991, and which was purportedly warehoused in a Gulf Oil Account. This huge revenue earned under the leadership of military President, General Ibrahim Babangida, was thought to have been largely misappropriated and unaccounted for. The expectations of Nigerians were sky-high as the crises in the Gulf during the early 1990s brought Nigeria unprecedented harvests of petro-dollars. Nigerians had expected the sudden quantum earnings to form the fulcrum of a mod-

‘We can only urge Justice Kolawole to summon the courage (if that’s the issue) and deliver his judgment on this matter. On the other hand, he could withdraw himself from it if it is not too late to do so. Justice delayed, it is said, is justice denied. We must also point out that this is a landmark case for Nigerians and they are passionate about it, whichever way it swings’

ern and industrialised Nigeria that would have ranked among the newly industrialised nations like Brazil, India and Malaysia. Alas, this never happened and Nigerians have not stopped to seek explanations for what has happened to the Gulf oil earnings. Following an unceasing clamour of the people, General Babangida’s successor, General Sani Abacha, had constituted the Okigbo Panel to investigate the management of the Gulf Oil Account. The panel reportedly turned in a damning report of financial recklessness, impunity, misappropriation and a total lack of accountability in the management of such huge public funds. Till today, the Okigbo report has never been made public; no action is known to have been taken to assuage the feelings of the people and put the matter to rest. Instead, successive governments have seemingly embarked on a game of cover-up. For the eight-year era of President Olusegun Obasanjo, his administration conveniently lived in denial of the $12.4 billion windfall. When rights groups challenged it to revisit the Okigbo Panel report in order to release a White Paper on it, the Obasanjo Administration lapsed into absurdity: it told the nation that the Okigbo Report was missing. How could that be, a scandalised populace wondered? Even if the nation lacked archives and memory banks, the then Secretary to the Government of the Federation,(SGF) Chief Ufot Ekaette, was also the secretary of the Okigbo Panel, the government was reminded. No dice. For eight years, the Obasanjo Administration did not

deem the $12.4 billion matter important enough to revisit it and sate the people’s thirst for justice. Even when a newsmagazine forayed into the American Library of Congress to find the report, the Nigerian government of the day remained obdurate, preferring to allow a culture of corruption and impunity to fester in the polity. It was at this juncture that a rights group, Socio-Economic Rights and Accountability Project (SERAP), took the Federal Government to court to compel it to publish the Okigbo panel report. After over four years of going through Nigeria’s tortuous court processes, judgment on the case was due July 28, 2011. But the trial judge, Justice Gabriel Kolawole, seemed not disposed to pronounce judgment. He told the world that judgment was not yet ready. Eight months later, precisely March 16, 2012, back in Justice Kolawole’s court, he still would not deliver judgment. Now the judgment has become time-barred because the stipulated 90 days after closing of evidence on a case has long lapsed. Now the parties would have to, at the least, re-adopt their written addresses before Justice Kolawole’s judgment, lest it would be a nullity. What a shame to Nigeria’s judiciary. We can only urge Justice Kolawole to summon the courage (if that’s the issue) and deliver his judgment on this matter. On the other hand, he could withdraw himself from it if it is not too late to do so. Justice delayed, it is said, is justice denied. We must also point out that this is a landmark case for Nigerians and they are passionate about it, whichever way it swings.

Strange find •N2bn cash seized from permanent secretary shows the porous nature of our accounting system

ETIRED Justice Victor Ovie-Whiskey, as chairman of the then Federal Electoral Commission (FEDECO) in the ‘80s it was who said that he would faint if he saw one million naira. He was reacting to allegations that “water passed under the bridge”so that he could pander to the wishes of the then ruling party. That may have been an overstatement, but it somehow revealed the relative innocence of the era. But that was then; that innocence has gone with the winds, with reports of all kinds of fraud that Nigerians are being regaled with daily. The problem is not only with the troubling frequency but also the mind-boggling amounts that those involved in the various rackets cart away unconscionably, an indication of the depth to which values have sunk in the country. Really, it is not that corruption has just berthed in Nigeria; it has always been there, but people used to be mindful of the way they stole in years past, such that the owner would hardly notice. But that was then. These days, it is as if people are competing for the trophy of the thief with the biggest loot; they hardly steal in millions again; the vogue now is to steal big: in billions. A case in point is the recent reported arrest of a serving federal permanent secretary and three directors, in connection with a N2billion alleged fraud in the Police Pension Office. Three other senior officers of the police pension scheme were also arrested. The scam was blown open by the Pension Reform Task Force Team

(PRTFT) headed by Alhaji Abdulrasheed Maina. According to reports, the permanent secretary was arrested with N2billion cash, suspected to be proceeds of the fraud! Holy Moses! Retired Justice OvieWhiskey must have screamed in his grave at the possibility of one man withstanding the sight of two billion naira! We can imagine the number of Nigerians who must be wondering about how and where that kind of money could have been kept - if in Ghana-must-go bags, how many of such bags could have contained such a huge amount of money and stuff like that? That must have been a record haul in the history of suspected stolen cash recovered from a single individual at any given time in the country. Prior to now, there had been cases of people involved in such acts of fraud with many billions in their bank accounts. But the ease with which these sums are being taken out of the system casts a big pall on the checks in the system. How come people are able to take away that kind of money without anyone blowing the whistle? Pension money for the police should, under no circumstance, not be in the custody of any individual. It should be safe in bank vaults. The fact that such monies could be withdrawn from banks with ease suggests a racket involving many people, including top public functionaries whose signatures are necessary to get the money out of the banks. This is probably a strong reason

why such incidents easily get swept under the carpet. Again, it is the integrity of our anti-corruption war that is at stake when these incidents occur. If with the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC), we still have such large-scale cases of corruption, then we are far from winning the war against corruption. Indeed, we have not started. And we would not have started until we prosecute successfully some high-profile people involved in the racket, to send the appropriate signals to other would-be thieves in the system that it can no longer be business as usual with regards to corruption. If police pension can be stolen, then no one is safe. Let us start teaching the right lessons now.

‘If with the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC), we still have such largescale cases of corruption, then we are far from winning the war against corruption. Indeed, we have not started. And we would not have started until we prosecute successfully some high-profile people involved in the racket...’

A shoot-first mentality in Florida

HE state’s self-defense law may be partly to blame for the fatal shooting of Trayvon Martin. There are good reasons why the killing of Trayvon Martin, a 17-year-old black youth who was shot to death by a neighborhood watch volunteer while walking through a gated community in Florida, has attracted national outrage. Martin, who weighed 140 pounds and was unarmed, was slain by a Latino man named George Zimmerman, who had been pursuing Martin through the neighborhood, outweighed him by more than 100 pounds and was armed with a 9-millimeter handgun. Yet Zimmerman claims that he acted in selfdefense — and local police initially agreed, saying they didn’t have enough evidence to charge Zimmerman with a crime. Fortunately, the matter won’t end there. The public outcry in a case with heavy racial overtones has attracted the notice of the Justice Department, which is launching an investigation, and the county grand jury. Yet many similarly suspicious self-defense shootings have received less scrutiny in Florida, thanks to a 2005 law backed by the National Rifle Assn. that gives too much of the benefit of the doubt in questionable shootings to the shooter rather than the victim. The so-called stand your ground law asserts that a person has no duty to retreat when facing an attacker and has a right to use deadly force if he “reasonably” believes he or others are threatened with death or great bodily harm. It also grants “true immunity” from civil and criminal charges. This means a judge can use this law to dismiss a case before it goes to trial, and also that Florida prosecutors are less likely to pursue homicide cases against people who claim they acted in self-defense. The St. PetersburgTimes performed a search of Florida newspapers and turned up 93 cases in which the law could have been applied from 2005 to 2010, and found that 57 of them never went to trial. We don’t know what happened between Martin and Zimmerman and are in no position to judge. But whenever an armed person shoots an unarmed one, the case should be subject to enormous scrutiny, of the kind best provided in a formal trial setting. Laws that discourage this might serve the interest of gun owners, but not the interest of justice. Moreover, we think the shooter in a justifiable homicide should have to demonstrate that he made some attempt to defuse the situation before opening fire, unless he was in imminent danger of attack from another armed person. It’s easy to make a case for self-defense when you kill your only witness, and laws like Florida’s encourage a dangerous shoot-first mentality. – Los Angeles Times

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THE NATION MONDAY, MARCH 26, 2012

9EDITORIAL/OPINION

IR: There is this chilling and recalcitrant attitude of Asians towards Africans that keep me thinking. It is the fact that a large portion of Asians really do not know anything about Africa and regrettably so, they are not willing to know. Africa is painted as a vast land mass with a small number of populations that are ravished by poverty and backwardness. Africa is portrayed as a home of beggars, cannibals, and never do-wells. But all these are as a result of lack of knowledge of how the place looks like as well as what her people are capable of doing and the skewed manner the western media portrayed the continent. Truth be told, Africa has witnessed some horrible things and have endured some awful wickedness. First was colonialism, where Africans were treated in their own country as second class citizens,

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Africa in the eyes of Asians killed and maimed by the Europeans that colonized them. It got even worse after African countries gained independence. African leaders started operating a law and leadership style that is worse than that of the colonial masters. They also became so corrupt and power drunk that they rubbished any gain from independence. They killed and maimed their subjects; annihilated opposition and some even engaged in wars. Today we talk of leaders like Idi Amin of Uganda, Charles Taylor of Liberia, Gaddaffi of Libya,

Hosni Mubarak of Egypt and Sani Abacha of Nigeria as dictators who rubbished their people and ruled against the wish of their people. In addition to that, Africans are accused of corruption and truly, some are corrupt. The leaders steal state fund which increases the poverty level in Africa. But corruption, tyranny, and bad leadership are all over the world. In fact, it is almost on equal level in Asian as it is in Africa. In our world of globalization, where free trade and diplomacy is on the increase, knowing the

makeup of other countries and continents is salient. This will enable one to speak intelligently with people from other climes. This will be useful for business and migration. Korea for example has some multinational companies that have businesses in Africa. Companies like Daewoo Engineering and Construction Company, Samsung electronics, LG, Hyundai, and KIA motors are so popular in Africa. In effect, these companies and others will increase their market share in Africa if people from Korea start

Pension scam, Lamorde and fifth columnists

IR: Recent development on pension scam investigation by the Senate has brought to public knowledge that some high profile individuals benefited from the alleged N240 million biometric training trip abroad. The N240 million is not the news but the way and manner the money was shared for purposes other than the supposed trip. It was alarming when names of those who supposedly made the trip as submitted to the Senate committee investigating the pension scam revealed Ibrahim Lamorde, the EFCC chairman’s name alongside that of former Head of Civil Service, Prof. Oladapo Afolabi. The duo among others were said to have benefited from the N240 million through the police pension task team for their overseas travels for the biometric exercise. In the course of the investigation, the public was made to believe that Lamorde actually part took in the alleged fraud; Lamorde was invited for the public hearing and inter-

EDITOR’S MAIL BAG

viewed on a life television programme. During this interview, the EFCC chairman was very disgusted, highly upset that his name was included in the first place. Lamorde, in the interview, explained that he never went on any trip but he was aware he was supposed to travel to Atlanta, Georgia for the biometric exercise. He also said that there was no time any money was paid into his account. He went further to tell the committee that the account number listed in the document pre-

sented to the committee by the pension task force did not belong to him. “I never traveled out of Nigeria even though my name is on the list that was to travel abroad for the biometric exercise and the account number on that list is not mine because I do not operate an account with First Bank.” Despite the public humiliation and character assassination that greeted the interview, you would have expected Lamorde be left alone to do his work. On the con-

trary, tongues are still wagging that the EFCC boss may have actually benefited from it after all. It is unfortunate that an innocent person can be so embarrassed. By and large, things must change for better in Nigeria. If the EFCC boss can be so cheaply blackmailed, anything can happen to any ordinary Nigerian on any issue. This is a food for thought for all of us. • Rachel Fola Lagos

having interest and learning the countries in Africa, their strong points and weaknesses while doing away with some misconceptions and primordial sentiments like Africans living in a cave, building houses on trees, home of wars, poverty, etc. But Asians can help Africans reach their potentials by knowing them and doing business with them, using their new look economy to help Africa by educating Africans on areas they are lacking. This relationship will be symbiotic since Asia will stand to gain from this investment just as Africa will. A pastor of Lords Chosen Charismatic Movement in Seoul, South Korea; recently made Nigeria proud when he returned $8,000 (eight thousand dollars) to a bank. The bank cashier mistakenly over paid him and he returned the money. This singular act of his has changed the image of Nigeria in the banking sector in Korea. We need more of this from Nigerians and Africans in overseas as it is an effective re-branding tool. Africans in overseas should thrive to tell some good stories about Africa and not tells of woos to attract cheap sympathy and useless visas and residence permits. It is only Africans that can correct this erroneous impression and we can only do this by ‘blowing our trumpet’ just like others do. • Uwalaka Temple U.B Solbridge International School of Business, Woosong University, Daejeon.

Hypocrisy of Nigeria’s parliament

IR: Arunma Oteh has let the cat out of the bag by revealing how deeply corrupt the hallowed chamber of the House of Representatives is. The millions demanded by the committee would have been laundered by the banks at the National Assembly had she yielded to their demand. The graft agencies should beam their searchlight on all the on-going probes, be-

cause bribery would have taken place. Remember the power probe whose committee chairman Hon. Godwin Elumelu and his counterpart in the red chamber Sen. Nicholas Ugbane visibly partook in alleged looting. Corruption starts from when the National Assembly starts with budget screening where they demand money before they pass the financial statement of any

ministry and extends to confirmation of ministerial and ambassadorial nominee. It manifests in the jamboree of oversight and the quarterly constituencies’ projects allowance. These are few of the cunning ways these lawbreakers milk the economy. Nigeria’s National Assembly is perhaps the only parliament building in the world where banks are located within its vicin-

ity. The US Capitol Washington, the UK parliament London, the Knesset Jerusalem, the Australian parliament Canberra,Canadian parliament in Ottawa; these bulidings have no banks within their premises; why ours is exception? The answer is corruption. • Adebayo Kayode Aminu Kano crescent Wuse Abuja

THE NATION MONDAY, MARCH 26, 2012

EDITORIAL/OPINION

To the Asiwaju @ 60

OD indeed created everyone for specific purposes. While some would live a meaningful life by fulfilling the rationale of their existence, many would just continue living and end without making impact. It would not matter how wealthy or how long the years on earth, what matters is becoming what God formed one to be. It also does not matter how awkward one’s beginning might be – or how rough the path of living might run, what concerns God is how well one ends the journey of life. A glorious ending is assured of sweet heavenly reward that is eternal. Asiwaju Bola Ahmed Tinubu clocks 60 this week. People of the world might be more concerned about who he is now and his admirable attainments. Only few would bother to know where he is coming from, the hindrances and artificial barriers he must have encountered in the battles the enemy had set to confront him. The truth is that there is no one who attains the place of destiny without experiencing evil machinations of the enemy whose task is to steal joy, kill glory and destroy destiny. Even the Lord Jesus Christ was only glorified after he had survived the temptation of the devil, endured insults, denials and rejections till he eventually surrendered his life to the pains and agonies of the Cross of Calvary. Today and forever, He remains glorified. Asiwaju is today living up to his appellation. His becoming the leader of the main opposition party in Nigeria’s political space is not an attainment by chance. He worked for it and had to overcome all manners of obstacles. He survived myriads of allegations and attempts to pull him down. He would never allow negative comments to discourage him. Afterall, the legendary sage, Chief Obafemi Awolowo, in spite of his unsurpassed administrative performance and leadership achievements battled till the very end internal regional adversaries who were willing tools in the hands of the enemies of his political destiny. It is Asiwaju Tinubu’s bold political strategies that have now led to the restoration of the stolen glory of the Yoruba race. Political foes and antagonists can say anything, he has proved to be an impactful achiever. Only few weeks ago, rumour mongers mounted the stage again to holler that the man who travelled abroad was sick and had already become a paralysed man. Since the will and plan of God cannot be terminated by the wiles of the wicked, and since it only required time for anything fake to fade away, it only needed

N his dramatic lifetime, the great Ikemba of Nnewi, Emeka Odumegwu Ojukwu never bordered himself about the issues of immortality. He lived for the world that he saw. But as he was lowered to mother earth in his Nnewi country home, it is only the flesh and the bones that went back to sand. The man and his ideas live on. Dust would not go to dust. Ojukwu will remain immortal, not in the sense of reincarnation or life after life, but by the very essence of his ideas, especially the very last of his postulations – the Biafra of the mind. Shortly before he died, Ojukwu made a very fundamental transition in his belief in Biafra. He moved from Biafra as a geographical and territorial construct to the Biafra of the mind. The concept of Biafra of the mind will continue to live as a legacy and as a burden for mankind till the end of time. Biafra as was declared by Ojukwu in 1967 was a state with a territory running through the east of the Niger in what was known as the Eastern Region of Nigeria. The existence of this republic ended in 1970 when the beleaguered state surrendered after a threeyear bloody war. But, after the inevitable hour, when the grave was covered, Ojukwu left behind for the world, not the Biafra of bricks and mortar and ogbunigwe but the Biafra of the mind.

‘The issues that gave rise to the Niger Delta uprising which culminated into a full-scale armed-struggle are reminiscent of the Biafra of brick and mortar. The June 12 debacle that gave rise to the disturbances of the Odua People’s Congress (OPC) in the West a decade ago fall within the genealogy of the old Biafra’

few days after the falsehood for the authentic leader to bounce back to the country, hale and hearty. It takes the grace of God to attain the age of 60 in the breed of harsh and hostile environment now heaped on Nigeria. Survival of all evil arrows that had been fired also is by Divine mercy. Celebrating the attainment therefore is a way of glorifying God for His grace and mercy. This is not concluding that the Diamond Jubilee celebrant has now reached the place of his destiny. If a fulfilling life is upheld and the good works sustained, one is then on the path of glory. The success story of Asiwaju Tinubu must be a lesson to the wise. The enemy in frustration might grumble and murmur, and even float another set of lies and rumours - that will be another effort in futility. Beyond religious affiliation, his life has impacted positively on the destiny on many simply because he utilized blessed opportunities open to him to become a blessing to others. He has proven to be a leader with a purpose. His unrelenting quest for true federalism remains part of his insistent struggle for the restitution of the deprived peoples’ mandate of June 12, 1993 and the reinstatement of democracy. And this is why in this clime where people wait for the dead before they are celebrated and spuriously eulogized, it is to the glory of God that Asiwaju is today alive and well to witness his being commemorated and honoured with rejoicing. To him I say: many more years of more grace, more favour, more accomplishments and fullness of joy!

Let the truth be revealed If Nigeria is retarding today, one of the elemental basis is corruption and the unfaithfulness of governance. In the last few days, it has been a battle of integrity and uprightness between the House of Representatives and the Securities and Exchange Commission (SEC). The honourableness of the house has once again been thrown to jeopardy in an effort to enthrone righteousness. Last week, Speaker Aminu Tambuwal was strained to remind the nation that one of the constitutional oversight responsibilities of the legislature is to conduct investigations into the activities of government for the purpose of exposing corruption, waste and inefficiency. On the basis of legislative agenda of transparency in the conduct of government business, the House Committee on Capital Market was mandated to probe the failed SEC that was meant to be the apex regulator of the nation’s beleaguered capital market. In the process of preparing for the commencement of the sitting session, the emblematic insanitary spirit that had contaminated the nation enveloped the inquirer as well as the accused. The love of money crept in as always to stall the reality that should work in favour of the nation and her people. But as fate would play it, it was to expose the hidden

devices of deceiving and misleading the public. SEC’s Director General, Arunmah Oteh was summoned before the House Committee for a public hearing. To help the exposition, the proceedings were on live coverage. Serious accusations of wasteful spending and extravagance were fired at her: N30 million expended on hotel bills, N875,000 lavished on dinner and many more unsavoury and sleazy costs in a nation where the masses of the people are struggling in penury. She could barely wait for her turn to respond. Boiling and fuming, Oteh was not ready to respond to the allegations against her. Rather, she fired back at the Committee Chairman Herman Hembe. “This is a kangaroo court,” she exploded, “Not even in Idi Amin Uganda did we have this type of public hearing.” She spilled out allegations that Hembe’s committee indeed demanded for a bribe of some N39 millions and the chairman’s personal request for N5 million. She also informed the public of their fund she once gave to the Hembe to attend a seminar abroad but did not go and the money was not refunded. It was a hot argument. To the general public, the revelations were exciting and to the press, another diversionary season of headline news. But to the nation, it is another show of disgrace. Hembe and his committee had to step down for another group to step in. as more information are being dished out from the two ends, the EFCC too has now become interested in determining the guilty by looking at correspondences between the House Committee and SEC. There are critical issues that must be resolved so that the people won’t see this as another killed drama. It must be determined whether it was SEC that offered the bribe or it was the House that demanded for it. Also, people are interested in knowing if there no budget for the legislature to carry out its oversight function. This country is ailing and failing because of the ruthless blows being dealt on the economy. Many instances of exposed fraud end up under the carpet. Again, we are waiting to see what becomes of this show of shame.

‘Asiwaju Bola Ahmed Tinubu clocks 60 this week. People of the world might be more concerned about who he is now and his admirable attainments. Only few would bother to know where he is coming from, the hindrances and artificial barriers he must have encountered in the battles the enemy had set to confront him’

Ojukwu and the Biafra of the mind By Godwin Adindu Indeed, Ojukwu’s declaration of the new Biafra is a deep philosophical and ideological proposal for a new world order. It is a reflection that only could have come from a world patriot. Ojukwu’s Biafra of the mind is an ideal of justice, a metaphor for man’s irrepressible persuasion to stand up against inhumanity and injustice by man to man. It transcends geographical boundaries and ethnic identities. It is no more the struggle of the Igbo for self-determination in the face of organized genocide. It is no more about the 30 months bloody civil war that left in its trail the devastation and despoliation of the Igbo heartland. It is a clarion call for the evolution of “a nation”. By the Biafra of the mind, Ojukwu left behind not only for Nigeria but for the world a great burden. The challenge is for Nigeria nay the world to replace the Biafra of bricks and mortar with the ideal of justice, with the emerging state called “the nation”. A nation lives in the mind. It cannot be legislated into existence but built through a conscious effort. It is not also defined by a geographical space. It is the new emerging community of commonality. Ojukwu’s Biafra of the mind is about the new nation where a group of different people feel a strong sense of common heritage and pursue a common destiny while upholding the principle of egalitarianism and justice for all. It is a world where we shall all be united by our common humanity. Nigeria has a great challenge to break all the walls and barriers of the old Biafra and replace it with the new Biafra of the mind. So long as the corpse of an Igbo trader is brought back from Maiduguri or from any other northern city to an Igbo village for burial, the old Biafra will continue to exist.

When the Adazi Nnuku community in Aniocha Local Government Area of Anambra State buried 12 corpses of their indigenes massacred by suspected Boko Haram assailants in Mubi, Adamawa State, a month ago the old Biafra came into full force. So long as a Yoruba landlord in Lagos declares that he cannot accommodate an Igbo, the old Biafra continues to live. So long as anyone is discriminated against on the basis of his ethnic identity in the workplace or in any other group in Nigeria or elsewhere, the old Biafra continues to live. Ojukwu’s Biafra of the mind is also not only about the ideal of justice but also about the inherent nature of man to rise up, at the nick of time and at a very precarious moment, against the forces of oppression and injustice. In the Ahiara Declaration, the principle of the Biafran revolution, Ojukwu goes back in time to recall the historic journey of man for self-determination. “It was good for the Greeks in 1822, for the Belgians in 1830, and for the Central and Eastern Europeans and the Irish at the end of the First World War,” he declares. The message here is that a system of injustice remains self-destructive and humanity will always desire and fight for a change. The issues that gave rise to the Niger Delta uprising which culminated into a full-scale armed-struggle are reminiscent of the Biafra of brick and mortar. The June 12 debacle that gave rise to the disturbances of the Odua People’s Congress (OPC) in the West a decade ago fall within the genealogy of the old Biafra. The suppressed anger and frustration of the people over the longdrawn autocracy in the Arab world that needed the courage of the Algerian fruit seller, Mohammed Bouazizi, to explode bore the same traces of the old Biafra. In

Nigeria, the conspiracy of the political class that has resulted in the failure of leadership and the suffering of the masses is a contamination of the Biafra of brick and mortar. In a nutshell, any act of injustice or inhumanity represents the cankerworm which is encapsulated in the entire construct of Biafra while the Biafra of the mind is the essential ideal to which humanity must commit itself. The Biafra of the mind must be the new aspiration. It must be the new mandate for leadership through the three tiers of power in a democracy. In our long anthropological movement, society has emerged from prehistoric era or Stone Age through many interregnums to civilization and then to sovereign states and countries. The next journey of humanity is the evolution of the “nation” or the Biafra of the mind where there will be unity in diversity, where all races, minorities and people shall be nothing but citizens with equal rights and priviledges. This is the dream of the great Ikemba, an ideal that I personally covet with fanatical persuasion. • Adindu is aide to the Abia Governor on Media and Communication

‘The Biafra of the mind must be the new aspiration. It must be the new mandate for leadership through the three tiers of power in a democracy. In our long anthropological movement, society has emerged from pre-historic era or Stone Age through many interregnums to civilization and then to sovereign states and countries’

THE NATION MONDAY, MARCH 26, 2012

EDITORIAL/OPINION ‘

HE paid agitators of a Sovereign National Conference should get prepared’ That was the concluding sentence of a recent statement by a new pressure group, Coalition of Northern Leaders, Academics, Professionals and Businessmen on the state of the ‘nation’. The statement which was signed by its convener, Dr. Junaid Mohammed highlighted a number of issues the north intends to engage the rest of the country on in the days ahead. They alleged that President Goodluck Jonathan in concert with the Chairman of the Constitution Amendment Committee, Justice Alfa Belgore was plotting tenure elongation even as he was awarding oil blocs and crude oil lifting contracts to Generals, cronies of parties or persons in power and fraudsters. For them, all these contracts and awards should be cancelled while a comprehensive review of all manner of refined products import contracts undertaken. The revenue allocation formula and the status of Abuja as the Federal Capital Territory were also some of the issues the group wants reviewed. On the face value, it would seem these are part of the emerging contributions to the debate on the way forward for this country. This is more so at a time agitations for a National Conference where the distinct nationalities are expected to chart their collective future have been on the upbeat. That could be the motivation of the group as their concluding paragraph tended to suggest. If that is so, it will further suggest a deepening consensus on the imperative of a conference especially in view of the big northern names and northern spread of members of the group. It would then suggest that the last vestige of opposition to the conference has given way. This optimism may however, turn out an exercise in wishful thinking. From the language, temperament and posturing of the group, there is everything to suggest they are spoiling for a show down rather than constructive engagement. One could very easily read from their posturing, tantrums and drums of irreconcilable differences that will inevitably negate the flourishing of any informed debate. One can easily discern their obsession with the simulation of a conflict of interests between the north and the south in the same manner late Libyan leader Gadhaffi prescribed some years back. Implanted in their agenda, composition,

ENATOR Liyel Imoke’s strategic whirlwind campaign that culminated in his landslide re-election as Governor of Cross River State, will go down in the history of democracy in Nigeria as the enthronement of its modern campaign era. Governor Imoke ran a colourful, carnivallike but issues-driven campaign that arrested the imagination of the electorate in the state. So much so, Imoke ill-motivated and inarticulate opponents were left reeling in his shadow. Imoke pitched for every vote, wooed everyone, and counted the low and mighty. The election result bore witness to this fact. Not that the opponents offered any existential threat to Imoke’s re-election. A critical examination of the political spread and the choices available had shown that there was no alternative to Imoke. Even within the Imoke political empire, this knowledge was widespread. This, did not, however stop Imoke and his team from campaigning and converting voters as if they were the dark horses in the race. Leading from the front, Imoke and his team campaigned intensely in all the 18 Local Government areas in the state. They occupied every inch of space. At the rear, a plethora of non-governmental groups specially dedicated to Imoke’s return bid, were on hand to mobilize and canvass for votes in the city, towns,

‘The electoral principle of one man, one vote was at its highest level of observance and practice. Each vote counted, and was indeed, counted. This led analyst to conclude that the Cross River State democratic template should be the benchmark for the rest of the country, and even the sub-region’

Emeka OMEIHE 08121971199 email: EmekaOmeihe@yahoo.com

North/South game of chicken language and temperament are the ‘us versus them’ syndrome. It is all about a clash of interests between a northern agenda and a southern one; a war situation of sort in which northern interests must clash with southern interests. It is a verity of the Game of Chicken with three predictable outcomes. The first is a situation the south surrenders to northern preferences and loses face while the north gains all. The second which is a direct opposite of the above is for the north to give in to southern predilections, lose face while the south gains all. The third option is for both parties to stick rigidly to their views and preferences, confront each other headlong and ensure maximum fatalities on both sidesMutual Assured Destruction (MAD). This foreboding possibility is all one could discern from the current posturing of the northern elite and that is the main flaw of their recent outing. It does not admit of compromise. This inevitable conclusion is given credence by the curious floating of the so-called pressure group solely on geopolitical lines. More so when we know that the idea of a monolithic north has become an anachronism. Not with recent ethnic killings in Plateau State and the extremism of some religious bigots that have forced many including those regarded as northerners fleeing to their home states. Why did the group which claimed ‘the whole country, with the North as its head will rise and oppose’ Jonathan’s purported tenure

elongation not deem it necessary to broaden its scope and involve people from these parts in its crusade? Can any progress be recorded in a situation we see contending issues of our federal structure only from the prism of how it affects the north or the south instead of the merit of each case? If the group can really hold on to the claim of representing the north, why the curious silence on the threat posed to our collective being by the Boko Haram saga. What of insinuations that Boko Haram is nothing but political grievances of the north masquerading under religious garb? The point being raised here is that in the face of the obvious threat posed by religious extremism in parts of the north, floating fire spitting pressure groups with dubious agenda within the same political confines will further heat up the political space. It will add up to reinforce the feelings that southerners are no longer safe in that part of the country. Any debate that is ab initio designed to pitch the north and south is nothing but a disaster waiting to happen. Such a gathering will ultimately come to naught. And when this happens, the country is further imperiled. That is the danger we now face which could accelerate MAD of the contending units. There is no doubt the north has been nursing political grievances in the way it was shortchanged by the Peoples Democratic Party (PDP) in allowing Jonathan to run after the death of Yar’Adua. They have a point

Imoke: coast to coast By Etowa Okoi communities and villages in the state. At the end of the day, before the jury was called it was obvious that Imoke was poised for a big come back to Government House, Calabar. His political cutting edge was sterling all-round performance, anchored on a well-articulated Seven-Point agenda. Another well-heeled niche was his identification with the hopes, concerns and expectation of the people. This inspired him to drive the government to them especially those in rural communities. Yet, another was his off-hand approach to governance and personal humility that is legendary as it is infectious. These and more were his unique selling points. Imoke also leveraged his suave campaign on the enormous reach, appeal and popularity of the internet, especially the media. The ebb and flow of the campaign, including the themes and other issues were hammered home, to full effect via Facebook and Twitter. Mostly through graphics, pictures and notes, a spectrum of audience, home and abroad, were able to follow the campaign, and contribute to the debate in the comfort of their homes. This is not to talk of numerous online pages and groups committed to Imoke’s come-back bid. By the time the chips were down, Imoke was riding the waves of the highest approval rating of his political history. There was an outpouring of goodwill for all quarters. On the eve of the election, it was crystally clear to keen observers where the pendulum will swing. The next day February 25, Governor Imoke won the election with the highest margin in the history of gubernatorial elections in the state 541,000 to 31,000 votes. The various congresses and campaigns running up to the elections and the elections itself was not overshadowed by acts

of violence, intimidation, thuggery and rigging. Imoke saw to the creation of a level and open playing field that held his opponents spellbound. The electoral principle of one man, one vote was at its highest level of observance and practice. Each vote counted, and was indeed, counted. This led analyst to conclude that the Cross River State democratic template should be the benchmark for the rest of the country, and even the sub-region. So again, Cross River State proved to be the shining light in Nigeria’s dark spots. In victory, Governor Imoke has remained magnanimous, and true to the core principles that made his first term such a remarkable, success while pursuing changes from within. In an iconic speech and superb political gesture at his inauguration, Imoke told a mammoth crowd that the best was yet to come. He promised to sustain his efforts to make Cross River an emerging service-driven economy. He promised to surge his intervention in rural areas and reforms in critical sectors, and take the government to the long-neglected. He stressed that a New Cross River State was in the ascendancy. Imoke has an intensely creative mind that believes in the destiny of Cross River State as a leading state in Nigeria. Imoke sees social change and economic reforms as potent tools for an enduring social equity. He has launched several initiatives in pursuit of this goal. He has turned around the climate of despondency and disempowerment that reigned supreme in the state before he took the reins of office. Imoke views the office of governor, and his leadership of the state as a moral force for the re-orientation of the state, and consolidating the gains made since the call of democracy in 1999. Imoke’s leadership, political courage and

there. The PDP should have allowed a northerner to complete Yar’Adua’s tenure but for some inexplicable reasons they invented some inverted logic to have Jonathan run. The north should feel sufficiently worried at the mere rumor that power may still be domiciled in the south in 2015. That could account for their reaction to the Belgore headed Constitution Amendment Committee. But that cannot justify their tirade against the derivation principle of the revenue sharing formula or the wrecking up of such stale and tendentious issues as the status of the Federal Capital Territory. It is too sectional for the group to have said that the ‘fiction of the so-called virgin land sold to late Murtala Muhammed was a shameless invention by an obscure geographer from the south west’ Incendiary statements like this at the current pass we face have the frightening prospects of further polarizing the country. They are not dignifying of the array of personalities that are associated with the pressure group even as they detract from whatever intellectual creativity and deep knowledge the northern elite seek to demonstrate and on which basis they want to engage their southern counterparts. It is not enough to use words recklessly and grandstand without regard to subsisting feelings and sensibilities. A lot of people still nurse ill feelings on the undue advantage the massive development of Abuja is now conferring on the same north. Or is it an attempt to appropriate the Federal Capital Territory as part of the national cake for the north? There are issues to contend with in the way the award of oil blocs and oil lifting has been carried out over the years. Even as one knows that there is a lot of fraud in the oil sector, it is curious that the north has kept quiet on these issues all these years. For these, there is the tendency to view their new positions as part of the larger agenda to pollute the political space, make the country ungovernable and precipitate crisis of unimaginable dimension. When these happen, the third option in the game of chicken matrix will inexorably play itself out. The country stands the ultimate victim of such foreboding scenario resulting from a clash of irreconcilable positions.

charisma are highly responsible for the resurgence in the state. He has garnered tremendous goodwill over the years. This saw an overflow during the campaigns and the elections. It was, therefore, fulfilling that Cross Riverians came out in large numbers to occupy polling units for him. From all indications, the state is in for its golden era. Imoke is riding this golden era in waves of glory. He clearly defines the spirit, dynamism and ambitions of his generation. He is a leader whose popularity cuts across all generations and political spectrums. Last Sunday, Governor Imoke and his wife held a thanksgiving service at Winners Chapel, in respect of his triumph at the polls. The event draws the curtain on the campaign season. With that divine event, the stage is now set for the resumption of government business, and the continuation of the programme and projects that have raised governance standards and extended the frontiers of development in the state. Imoke has made history, and the rest as they say, is history. Yes, Imoke is back in a big way. • Okoi writes from Calabar, Cross River State

‘Imoke sees social change and economic reforms as potent tools for an enduring social equity. He has launched several initiatives in pursuit of this goal. He has turned around the climate of despondency and disempowerment that reigned supreme in the state before he took the reins of office’

THE NATION MONDAY, MARCH 26, 2012

BUSINESS THE NATION

E-mail:- bussiness@thenationonlineng.net

T HE CEO ‘Reforms ‘ll unlock Nigeria’s

ISSUES Mapping ways for market recovery - P. 27 News Briefing

NAICOM frets over dearth of skilled manpower A LOOMING crisis seems to be brewing in the insurance industry because of the dearth of qualified and experienced manpower, The Nation has learnt.

N198b disbursed to 400 firms, says CBN THE Central Bank of Nigeria (CBN) has said more than 400 companies have so far benefited from the N200 billion intervention fund for re-financing and resuscitation of the manufacturing sector. Out of this, N198billion has been disbursed.

UBA eyes Eurobond UNITED Bank of Africa PLC is looking to issue a $500 million Eurobond in the final quarter of this year or early next year to finance its foreign currency assets and expansion in Africa, Chief Executive Phillips Oduoza said last Friday. - Page 26

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 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 $33.01b FOREX CFA 0.2958 EUR 206.9 £ 242.1 $ 156 ¥ 1.9179 SDR 238 RIYAL 40.472

The government has begun moves to make the one-stop-shop more effective and efficient. This will enable investors to do all their registration within 48 hours. - Dr Olusegun Aganga, Minister of Trade and Investment

economic potential’

- P. 32

AMCON tackles states over debts T

HE Asset Management Corporation of Nigeria (AMCON) has initiated moves to recover outstanding loans owed banks by debtor states. The Chairman, the Federation Account Allocation Committee (FAAC) and Minister of State for Finance Dr. Yerima Lawan Ngama was said to have disclosed this to members of committee last week. He said: “AMCON had written requesting for the recoveries of the outstanding loans from the affected states.” AMCON, he said, has threatened to invoke section 50 sub-sections I and II of the AMCON Act. Section I of the Act stipulates

From Nduka Chiejina Assistant Editor

that where the corporation has reasonable cause to believe that a debtor or debtor company has funds in any account with any eligible financial institution, it may apply to the court by motion ex-parte for an order freezing the debtor or debtor company’s accounts. Section 11 states that the corporation shall commence debt recovery action against a debtor or debtor company whose account has been frozen by a court order issued under subsection I) of this section within 14 days from the date of the order, failing which the order shall lapse. Ngama, who did not give

the exact amount that AMCON plans to recover from the debtor states, was said to have advised the debtor states to meet with the Managing Director of AMCON, Mr Mustapha Chike Obi, for negotiations to reconcile their debts amicably. Most states are exposed to banks and the capital market. AMCON is believed to have bought some of the states’ debts from banks. Attempts to get AMCON’s managing director to speak on the issue proved abortive as he could not be reached. The corporation had unfolded plans to refinance its N1.7 trillion ($11 billion) three-year bond. The bonds came with maturities of between seven

and 10 years. AMCON chief executive had told Reuters that the corporation had launched a road-show in Lagos to meet investors and will make trips to New York, Boston and London next month to invite foreign investors to buy the new debt. The AMCON last April listed N1.7 trillion bond issues to buy Non-Performing Loans (NPLs) from the books of banks in the country. The bond was meant to take off NPLs valued at N2.2 trillion from the books of all the banks. The listing was meant to put some earning assets on the books of banks especially the rescued ones, which have sold the largest chunk of NPLs to AMCON.

AMCON has, since December 2010, issued bonds in several tranches to banks in exchange for NPLs on their books. Recently,AMCON executed an Order of the Federal High Court granted pursuant to its special powers under its enabling Act, which allows it to take possession of assets of recalcitrant debtors while the recovery action is pending in the court. Law enforcement agents, lawyers and court bailiffs executed this order on one its intractable debtors - Tonique Oil Services Limited. AMCON had earlier this year urged all its debtors and other obligors to pay up on their debts or come forward with acceptable repayment proposals.

‘Banks impede national ID card project’

HE National Identity Management Commission (NIMC) has said the failure of banks to finance the two concessionaires it engaged as Front End Partners (FEP) for the National Identity Card project is responsible for the delay in executing the scheme. Its Director-General, Dr Chris Onyemenam, said this in Lagos, at the second International Conference on Due Diligence, organised by the Committee of Chief Compliance Officers of Banks in Nigeria (CCCOBIN). NIMC had in July 2010 engaged a consortia of Information Technology firms, Chams PLC and OneSecurecard as FEPs to handle the project. Onyemenam lamented that after over a year of signing the agreement, the consortia have been unable to raise necessary funds to execute their mandate as stipulated in the agreement. “Subject to the provisions

By Adline Atili

of this agreement, the consortia are responsible for, and bear the financial and other risks in relation to, the design, financing, construction, completion, inauguration, maintenance, operation, management and development of the works and the registration centres for the purpose of the national ID project,” the agreement stated. The NIMC boss explained that the concessionaires were entitled during the concession period, to manage and operate the concession assets and collect and retain such proportion of the revenues that accrues from the use of the data acquired by the concessionaires and stored in the National Identity Database (NID) for personal identity verification services as “parties may from time to time agree, and such other authorised business as may from time to time be speci•Continued on page 26

•From left: Group Managing Director/Chief Executive Officer, Union Bank of Nigeria Plc Mrs. Funke Osibodu in a handshake with Minister of Aviation Princess Stella Oduah, during a courtesy call by the former on the minister in Abuja.

Inadequate gas supply hampers power supply from NIPP

HE 4,770 megawatts (MW) of electricity expected from the National Integrated Power Project (NIPP) is facing undue setback following lack of gas supply and absence of transmission facilities to evacuate the power generated from the power plants. The Managing Director of the Niger Delta Power Holding Company (NDPHC), which superintends the NIPP, Mr James Olotu, said the power plants are constrained by lack of gas supply and the situation has affected the ini-

By Emeka Ugwuanyi

tial delivery dates. He said, for instance, the biggest NIPP plant, the Alaoji Generation Company, being handled by Rockson Engineering Limited, which has 1,074MW installed capacity evacuates only 150MW. He said the power plant has four gas turbines of 112.5MW each and two steam turbines of 255MW, but noted that two gas turbines were streamed this month while the remaining two would come on stream in July and August, this year and

the two steam turbines would be ready by 2014. He said besides power evacuation limitation challenges, the company only has a temporary gas supply agreement (GSA( with the Nigerian Gas Company (NGC) and there is no securitisation for the Shell 40 million standard cubic feet per day (mmscf/d) gas supply agreement. The other two power plants being handled by Rockson Engineering, Gbarain Generation Company and Egbema Generation Company, which have installed ca-

pacities of 225mw and 338mw have their peculiar problems. While the two gas turbines for Gbarain, which is under construction, has available evacuation capacity and available gas supply source (the Shell Gbarain-Ubie oil and gas integrated project), the challenge there is community issues. The turbines are expected to become operational by October and December, this year. The Egbema, which is also under construction, has no evacuation capacity and no gas supply facility.

The same thing applies to the Sapele Generation Company being handled by Marubeni West Africa. The power plant has installed capacity of 451mw with four gas turbines of 112.5mw each. Olotu said two of the turbines, which generate 225mw, have been inaugurated, but only one turbine runs because of gas limitation. He said the remaining two turbines would be ready in April and July and there is interim gas supply agreement with NGC and no securitisation for Shell gas supply agreement.

THE NATION MONDAY, MARCH 26, 2012

BUSINESS NEWS 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 5. Dana 07.02 08.22 6. Arik 07.15 08.15 7. Chanchangi 07.15 8. Air Nigeria 08.15 09.35 9. Dana 08.10 09.20 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. Dana 12.06 12.26 15. Aero 12.20 13.30 16. Air Nigeria 13.25 14.45 17. Chanchangi 13.30 14.30 18. Arik 13.45 14.45 19. IRS 14.00 15.20 20. Aero 14.10 15.30 21. Air Nigeria 14.50 16.10 22. Dana 15.30 16.50 23. Chanchangi 15.30 16.30 24. Arik 15.50 16.50 25. Aero 16.00 17.20 26. IRS 16.30 17.50 27. Arik 16.50 17.50 28. Dana 17.10 18.30 29. Chanchangi 17.30 18.30 30. Air Nigeria 17.35 18.55 31. Air Nigeria (T/TH) 18.30 19.50 32. Arik 18.45 19.45 33. 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

He said: “The industry has continued to suffer from inadequate capital and limited human capacity. In relation to human capacity, there is an observed shortage of qualified and experienced professionals.” This gap exists given that the rate at which the aging practitioners are leaving the industry has not been matched by the rate of entrance by new qualified practitioners.While it is hoped that this gap may be filled in a few years, given the efforts by the Chartered Insurance Institute of Nigeria (CIIN) at training insurance professionals, the challenge relating to inadequate capital may continue for some time as the industry is not known for self-induced recapita-

lisation.” Daniel said the National Insurance Commission (NAICOM), is working assiduously to open the industry and create additional 250,000 new jobs to meet the human capacity need of the sector. He said: “NAICOM hopes to midwife an industry of highly skill and motivated workforce, one that is committed to international best practices, an information and technology driven regulatory and market environment friendly arena. He said the industry would improve through the adoption of risk-based capital and supervision model; transparent public financial statements; timely market information and an insurance market that is viable and able to compete globally.

By Dupe Olaoye-Osinkolu

HE National President of the Nigeria Union of Local Government Employees (NULGE),

08.50 12.40 14.10 17.20

UBA eyes Eurobond

12.15 12.45

09.10 11.00 11.10 16.20

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. 6.

LAGOS – KANO Air Nigeria 07.10 IRS 08.00 Dana 08.10 Arik 12.20 IRS 14.00 IRS 18.15

08.50 09.45 09.40 14.00 15.45 19.55

LAGOS – OWERRI 07.20 14.00 16.30

08.30 15.10 17.40

LAGOS – UYO 10.35

11.35

•From left: President, Bank Directors Association of Nigeria (BDAN) and Chairman, Ecobank Plc, Olor’ogun Sonny Kuku presenting the report of the Bank Directors’ Remuneration Survey to the Chairman of Diamond Bank Plc and Obi of Onitsha HRM Igwe Nnaemeka A. Achebe, who received it on behalf of banks’ chairmen.

N198b disbursed to 400 firms, says CBN

HE Central Bank of Nigeria (CBN) has said more than 400 companies have so far benefited from the N200 billion intervention fund for re-financing and resuscitation of the manufacturing sector. Out of this, N198billion has been disbursed. Speaking with The Nation, Deputy Director, Development Finance, CBN, Mr Akintunde Sowunmi , said the apex bank expects banks to play their roles in ensuring that the funds are well utilised. “ We expect the banks on their parts to play their roles. Due diligence is expected from them. All these is being done in order to transform the industrial sector, most especially the manufacturing sector,” Akintunde said.

08.00

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

He stated that the CBN has engaged the African Finance Corporation (AFC) to provide technical advice to ensure effective implementation of the projects invested in, as the AFC is also to provide capacity building to BoI. A company can access a maximum of N1.1 billion of the Resuscitation and Refinancing Facilities (RRF) for manufacturers through the commercial banks. While confirming this, Manager, Risk Management Division, Bank of Industry, (BOI), Mr Kola Adewole, said 99 per cent out of the N200billion has been disbursed so far, adding that the intervention fund for the revival of the industrial sector has so far supported the MSMEs.

“The objectives of the fund are to fast-track the development of the manufacturing sector of the economy by improving access to credit to manufacturers; improve the financial position of the Deposit Money Banks; increase output, generate employment, diversify the revenue base, and increase foreign exchange earnings and provide inputs for the industrial sector on a sustainable basis,” he said. Also speaking, one of the beneficiaries and the Managing Director, European Soap, Suren Mirchandani, said his company, which got about N519million through the bank, is growing stronger. He said the funds have really helped the company, adding that it is seeking for another intervention fund to be able to expand.

‘Banks impede national ID card project’ •Continued from page 25

LAGOS – MAIDUGURI 1. IRS 11.15 13.15 2. Arik 15.50 18.00 LAGOS – ILORIN 1. Overland 07.15

By Chuks Udo Okonta

08.30 09.10 11.50 12.45 13.40 15.20 16.30 16.40

1. 2. 3. 4. 5.

1. Dana

LOOMING crisis is brewing in the insurance industry because of the dearth of qualified and experienced manpower, The Nation has learnt. Investigations have revealed that about 60 per cent of the industry’s tested workforce, is aging and are about to retire. The Commissioner for Insurance, Fola Daniel, who confirmed this, said there is a wide skill gap in the industry. He said the rate at which aging practitioners are exiting the industry has not been matched by the rate of entry by new qualified practitioners. He expressed concern over inadequate capital in the industry, which he considered a clog to the development of insurance practice.

‘States, councils’ joint accounts hinder wage payment’

Ibrahim Khaleel, has faulted the joint account by states and councils, saying it is unconstitutional. He said it is delaying the implementation of the N18,000 minimum wage to local government employees. He said deductions being made from the joint accounts have affected the councils as they cannot meet their financial obligations and discharge their responsibilities to the people. He argued that if the statutory allocations are received directly by the local government, they would not have remained in the current situation where they are unable to meet their obligations on how to implement the N18,000 national minimum wage. He urged the governors to respect the provisions of the Nigerian Constitution on the independence of the third-tier of the government to control their funds and implement their programmes of action at the grassroots. He also urged the states to assume responsibility for teachers’ salaries to ease the burden on the councils.

LAGOS – PORT HARCOURT (CIVIL) 1. Aero 07.15 08.35 2. Arik 07.15 08.35 3. Arik 09.00 10.20 4. Dana 09.27 10.40 5. Aero 10.50 12.30 6. Arik 11.40 13.00 7. Air Nigeria 12.00 13.10 8. IRS 13.30 15.00 9. Arik 14.00 15.20 10. Dana 15.03 16.20 11. Air Nigeria 16.00 17.10 12. Arik 16.10 17.30 13. Aero 16.15 17.30 14. Arik 17.10 18.30

1. Arik 2. Arik 3. Arik

NAICOM frets over dearth of skilled manpower

fied by the grantor and subject to the terms and conditions of this agreement.” He said the concessionaires are, among others, expected to render services such as provision of data capture, personalisation, issuance and distribution of General Multi- Purpose Cards (GMPC), deployment of card acceptances devices (CADs), and for related services and operations as part of the front end component of the national identity management system and infrastructure upgrade in Nigeria. With this clear arrangement, Onyemenam said, he was disap-

pointed that banks were not ready to transact business with the concessionaires. He added: “Ironically, when the Federal Government approved N30billion for our activities in the 2012 budget, the banks wanted us to open accounts with them. But my message for them is: we will only do business with you if you do business with our concessionaires.” When asked about the possible risks involved in doing business with the concessionaires, he asked: “What could better explain the commitment of President Goodluck Jonathan’s administration to the scheme than the appropriation of N30billion for the

project in the 2012 budget?” Despite the challenges, he said NIMC would start registration and issuance of the National Identity Number (NIN) in May 2012 to create the first national database. To achieve a seamless identity system in the country, he said the commission would integrate all existing database of government agencies to create a harmonised database system in the country. He said: “NIMC will harmonise data from existing government agencies including INEC, NCC SIM registration, FRSC, FIRS, land registries, pension/insurance NHIS and credit bureau to create the first integrated system in the history of Nigeria.”

NITED Bank of Africa PLC may issue a $500 million Eurobond in the final quarter of this year or early next year to finance its foreign currency assets and expansion in Africa, its Chief Executive Phillips Oduoza said last Friday. UBA, one of Nigeria’s top four lenders, issued a N35 billion ($222 million) bond last year and a N20 billion bond in 2010 as part of a N400 billion debt issuance programme. Last month, it suspended a share sale citing weak local market conditions and Uduoza said the bank wanted to complete the capital raising before proceeding with the Eurobond. “We will probably do that last quarter of this year or early next year,” he told Reuters on the sidelines of a conference in London. “We’re looking at about $500 million. We’re still at the discussion stage. We haven’t appointed parties. What we want is to do our equity capital raising before the Eurobond and that depends on market conditions.” The bond would have a tenor of between five and seven years, he added. “We want to use it to finance some of our risk assets, some long-term foreign-currency denominated assets, and for our expansion in Africa,” he said. Nigeria, Africa’s top crude oil exporter, issued a $500 million debut Eurobond in January last year. The aim of the 10-year bond was to create a benchmark for Nigeria in the global market. The bond, which was issued with a coupon of 6.75 per cent, was yielding 6.15 per cent on Friday. UBA operates in 19 African countries, including Ghana, Kenya, Tanzania and Zambia. Oduoza said it had applied for a banking licence in Angola but the southern African state was a difficult market to enter. “It’s a fast-growing market just like Nigeria,” he said. “It’s been very tough. One of the requirements is partnership with the government and we don’t want to partner with government. We don’t want to dilute the brand.”

THE NATION MONDAY, MARCH 26, 2012

ISSUES

â&#x20AC;˘Nigerian Stock Exchange building

Mapping ways for market recovery The capital market authorities have been grappling with a long-drawn capital market decline through several initiatives. But as they target $1 trillion capitalisation, TOLU OSUNDOLIRE reports that the market recovery and new targets still require much more than presentations.

N 2011, the Nigerian Stock Exchange (NSE) set a broad objective to create an African institution that will compete effectively in the global market place. The vision to be the "gateway to African" markets was supported by the objective of achieving $1 trillion in market capitalisation in five years and to have five products available in the market. Chief Executive Officer (CEO), Nigerian Stock Exchange (NSE), Mr Oscar Onyema, has outlined key initiatives being implemented to drive the market's recovery including proper segmentation of the market, introduction of Exchange Traded Funds (ETFs), share buy-back, new website, market makers, short selling, revised listing requirements and investor

clinic. These were addressed in 2011 and are under the control of the NSE. Part of what was planned when the new team came in the second quarter of 2011 was to have multinational companies quoted on the floor of the exchange. These include the telecommunications and the oil & gas companies. This move had encountered reactions, most of which were dumped at the feet of the Federal government. Some analysts were of the opinion that the country made a mistake of not setting listing on the stock market as part of the rules for the multinationals to operate in the country.

Moving away from meltdown According to Onyema, in the 13 years before the 2008 financial meltdown, the eq-

uity market returned over 1,200 per cent, but has struggled since then. In 2011, the market lost approximatelyN1.4 trillion in market capitalisation from N7.92 trillion at the end of 2010 to N6.54 trillion - a 17.42 per cent drop. The streak of losses was attributed to the weak global economy as a result of the financial and debt crises in the US and the European Union (EU), especially since the EU accounted for 22 per cent of foreign portfolio investment (FPI) into Nigeria in 2011. Also, the banking crisis, including the nationalisation of three banks in August last year; lack of investor confidence triggered by losses incurred during the financial meltdown of 2008/2009; lack of liquidity and depth in the market; concerns about the

security situation in the country; and rising interest rates which have seen the Monetary Policy Rate (MPR) rise from eight per cent to 9.25 per cent in the past three months, and 12 per cent in the past week. The management of the NSE has gradually rolled out its initiatives step by step. But there were still several requirements for a stable recovery and growth. These other initiatives outside the NSE's control are equally important to the growth and development of the market. These include review of pension fund administrators' investment guidelines regarding capital market investments, tax breaks on transaction fees and tax holidays for listed companies. â&#x20AC;˘ Continued on page 28

THE NATION MONDAY, MARCH 26, 2012

ISSUES

•Onyema

• Ms Oteh

•Hembe

Mapping ways for market recovery • Continued from page 27

Others included policy on large cap firms to deepen market, access to sovereign wealth fund, exit strategy for privatised entities, undue focus on dividends as the measurement for a company's success, improve the capacity of local institutional investors, broker margin debt resolution and brokers' access to funding. NSE management believe the implementation of these proposed governmentbacked initiatives should rekindle investor confidence, enable the recovery of the market, and unlock the potential for longterm financing of the economy. In 2011, the NSE began the drive towards the market's recovery with a focus on increasing operational efficiency, and improving market-wide transparency and corporate governance. First on the list was the implementation of the NSE's transformation agenda, which centered on streamlining critical business areas to enable the NSE focus its market development efforts, and address key aspects of the capital market’s impeding growth. Other key initiatives include new products, liquidity & depth, stakeholders' engagement, financial literacy, business development & listing, IFRS, demutualisation and advocacy for policy formulation that affects investors.

SEC's position The Director-General of the Securities and Exchange Commission (SEC), Ms Arunma Oteh, said the Federal Government has a committee on ground whose main aim is to look into what can be done to have the multinationals listed on the floor of the exchange. It was reported last year that the House of Representatives Committee on Capital Markets and Other Institutions was planning to partner the SEC and the NSE in its efforts to woo multinational telecommunications (telcos), oil and gas companies, operating in the country to list on the Exchange. Speaking on its strategies then, the former chairman of the Committee, Hon. Herman Hembe, had disclosed that a bill was being planned to compel the companies to list their shares on the Exchange. "The committee is thinking of how to get a joint bill that will mandate/compel those multinational companies operating in the country to list their shares for the growth of the economy. The committee believes getting the input of market regulators and operators would avoid certain mistakes as they are in charge of the market and know the challenges that may come against the bill," the report said. Hembe had lamented that the telcos and oil companies made huge profits but were not listed on the Exchange so that more Nigerians could benefit in form of dividends among others. "MTN, for instance, got a li-

cence in 2001 for $285 million mostly financed by Nigerian banks. Between January and June of the same year, MTN repatriated some $5 billion as profits from their Nigerian operations," he said. Speaking on the bill, the chairman said it would get telcos listed on the Nigerian bourse. On the energy sector, Hembe said the committee would set out to get the sector and its players also listed on the bourse of the NSE. The legislator had disclosed that the committee would partner relevant stakeholders to speed up passage of the Petroleum Industry Bill (PIB) to foster subsequent listing of major upstream players. He said: "We would also legislate to get power generation and distribution companies listed once the process of their privatisation is complete. What needs to be done is very clear to us and the general consensus is that the reforms we have planned will address the development gaps as observed."

Brokers’ reactions Most brokers are of the opinion that the $1 trillion market capitalisation is visible if the plans of the management of the NSE work out. The Chairman of the Association of Stock brokering Houses of Nigeria (ASHON), Mr Emeka Madubike of Compass Securities, said it is a possible projection if things are done properly with all arrangements on ground and no obstruction. He said that the interaction between the Exchange and issuers is getting better and the listing rules are now relaxed. He added that with another window for SMEs and companies buying back their shares, it will speed up the actualisation of the projection. However, he said if MTN for instance, agrees to be listed on the floor of the Exchange, the volume they will be willing to list would be decided by them and that also will be a determinant factor of the effect in the market. Also, he said if the proposal works out well the projection could be surpassed. "Imagine the number of companies registered with CAC, besides the mama, papa ones it's about 500,000. I am not saying it will be an easy task but imagine them listed on the floor. Also, more education needs to be carried out by the regulators, transparency and trust must return to the market, the government needs to talk to people about the market. Incentives and wavers must be considered," he said.

Between free economy and regulated market Contrary to the submission of stakeholders and concerned investors that major telecoms companies should be listed, there were indications the companies may resist any railroading into listing. A top source at MTN who wished not to be named gave reasons why the possibility of having MTN listed on the NSE will remain a dream. According to the source, a lot has been said about the issue of mandated listing. However, much of it has not been taken into consideration as an alternative view, which may bear some thought. Also the source said it appears that a number of commentators are operating under a number of faulty assumptions. The source said for the listing of MTN South Africa on the Johannesburg Stock Exchange (JSE), no MTN affiliate in any of the operating units in Africa and the Middle East is quoted on a local stock exchange, including MTN SA (which is also an operating unit). The entity quoted on the JSE is the holding company known as the MTN Group, not MTN SA, which like MTN Nigeria is one of the 21 operating units that come under the MTN Group. On the allegations of refusal to list for pecuniary benefit, the source said MTN Nigeria is recognised for 100 per cent tax compliance. "Indeed, the company has won several awards from state governments, the Federal Inland Revenue Service (FIRS), and Institute of Taxation among others. MTN Nigeria is one of the highest payers of tax to the government of Nigeria, outside the oil producing industry. It is also the number one Corporate Social Responsibility (CSR) company in Nigeria recognised internationally for its project driven, sustainable and wide impact corporate investment. "No telecommunications company has more investment in Nigeria in terms of capital expenditure (CAPEX), CSR, sponsorships, and empowerment of Nigerians. MTN Nigeria is possibly Nigeria's number one investment ambassador and we receive enquiries and numerous invitations to speak about how we have thrived in an environment that was hitherto considered impossible," the source said.

‘We would also legislate to get power generation and distribution companies listed once the process of their privatisation is complete. What needs to be done is very clear to us and the general consensus is that the reforms we have planned will address the development gaps as observed’

On the allegations that MTN is reluctant to diversify its ownership, the source said there are many routes to achieving local participation in the ownership structure of a business. Listing on the NSE is only one of them. That is why in 2008, MTN participated in a well subscribed private placement and many Nigerians who took advantage of these opportunities are quietly enjoying the benefits. Therefore, it is obvious that MTN supports local participation. Now, MTN Group has 72.5 per cent equity stake in MTN Nigeria, International Financial Corporation (IFC) has two per cent while the remaining 25.5 per cent are owned by Nigerians. These Nigerian shareholders are top government functionaries who are not willing to dilute their holdings by getting listed on the floor of the NSE. However, the source said successive governments have embarked on some effective initiatives to encourage foreign investment in Nigeria. They have made commendable strides in this regard, by working hard to provide an enabling investment climate for diverse businesses. The GSM industry, the oil industry, and a multiplicity of other businesses operating in Nigeria have been the direct beneficiary of this. At no stage in this process was there any requirement for private investors/ businesses to list as a pre-condition for their entry to Nigeria. Today, the telecoms industry in Nigeria is one of the fastest growing in the world, and Nigeria continues to be regarded by many investors as an investment destination of choice in Africa. On the principle of a mandated listing requirement, which appears to be targeted at a particular industry, the source said it was inconsistent with the aforementioned free market economic agenda of the government. The Federal Government’s policy to date has been aimed at attracting investment and a level playing field. The source said it is important for the government to boost foreign investor confidence through consistent policy formulation and incentives to encourage current and subsequent investors to invest aggressively and make meaningful contributions to various aspects of socio-economic life through full tax compliance, CSR and other demonstrations of good citizenship, all of which MTN fulfills. This is, particularly, so when the government is looking for investment in the power and mining sectors to name a few. Investors need to be assured that when they have invested heavily here and created exceptional value, the playing field is not abruptly changed. Now, the task before the capital market regulators and the government is to find amenable policies and incentives that would stabilise the capital market and further entice more investors and companies to participate in the market.

THE NATION MONDAY, MARCH 26, 2012

PERSONAL FINANCE Investorâ&#x20AC;&#x2122;s Worth

MBO investor

ANAGEMENT buyout (MBO) is a particularly tenuous investment strategy. Tricky, riskier and sometimes costlier. MBO- the purchase of controlling equity stake in a company from existing core investor by the management executives of the company, requires more rigourous decision process than other investment decisions. For the management executives, they must possess the requisite capital, expertise and character to win the minds of the divesting investors. Where management lacks capital but is reputed for professionalism, it can attract capital from other sources to consummate the deal. This type of MBO is referred to as Leveraged MBO. Bayo Osibo was an employee who successfully used MBO to become the single largest individual shareholder in the company he had previously been managing for others. The transformation of Portland Paints and Products Nigeria Plc is as interesting as the metamorphosis of Bayo Osibo. Portland Paints & Products Nig. Plc is a leader in the Nigerian paints Industry. Portland Paintspurveyor of the Sandtex brand of paints; was for several years a division of West African Portland Cement (Wapco) Plc, now Lafarge Cement Wapco Nigeria. In 1984, Osibo became the national sales manager for the Portland paints division. With the division performing credit-

ably well as a going concern, Wapco initiated the registration of the division as a limited liability company in 1985. Osibo was subsequently made the general manager and chief executive of the new company. When Wapco decided to divest from the company, Osibo- a biochemist, saw it as both an opportunity and a challenge. Having managed the company successfully, he was fully aware of the potential of the business. So, MBO became an attractive option for him and the divesting core investor, which wanted its capital but still wanted to leave the company in good hands. The credibility of the existing management attracted Aureos West Africa Fund, a British venture capital company, which supported the management with capital. Portland Paints transited into a public limited liability company in 2008 and subsequently listed its shares on the Nigerian Stock Exchange (NSE) in 2009. With current equity stake of more than 24 per cent, according to the latest filing, Osibo is the single largest individual shareholder in Portland Paints, where he remains the managing director and chief executive. At current market value, Osibo's equity value is within the middle range of nine-digit figures. Portland Paints is currently trading with a market capitalisation of about N1.6 billion. With his substantial equity

â&#x20AC;˘Bayo Osibo

stake and historic attachment to the company, Osibo has significantly grown the product basket of Portland Paints to include marine and protective coatings for oil and gas sector, sanitary ware, instant road repair material for repairs in all weather for cracks and potholes in asphalt, concrete and landing runway areas in airports as well as its traditional decorative and industrial paints. A graduate of Biochemistry from the University of Ibadan, Osibo also holds a Master degree in Business Administration from the University of Lagos. He started his working career with Lever Brothers-now Unilever Nigeria Plc, where he rose to the position of senior sales field manager within a period of three years. He later joined Nigerian Textile Mills before moving over to Wapco. For Osibo, it has been a valuable transformation.

Ask a Broker

What is price to book value (PBV)?

price of N462 and a net asset per share of N29.62, the PBV or MBV ratio will be 15.6 times, implying that shareholders have earned nearly 15 times of what they invested in the company. It is absolutely normal for market values of shares of good and profitable companies to be several times the net assets value per share, especially for long-tested blue

RICE to book value (PBV) or market to book value (MBV) relates the stock market price of a company to its book value to determine a value horizon for the company. PBV is calculated by dividing the current market price of a stock with the net asset value or book value at a given period. For instance, where Nestle Nigeria Plc has current share

Reading and understanding annual report and accounts (2)

chips that have through generations come to be regarded as preserver of value. The task for an investor is to determine where the PBV is indicating overvaluation or undervaluation. Where market value is equal to or less than the book value of a fundamentally good company, then this may represent a significant buy opportunity for discerning investors.

HE financial statements part of the annual report mainly contains the balance sheet and the income statement, otherwise refers to as profit and loss accounts, and the explanations thereon. The balance sheet is similar to a snapshot of the company's accounting value, indicating assets and liabilities as at a particular date. The balance sheet is made up of two equal sides, a side containing assets and the other side containing liabilities and shareholders' equity. The asset side states what the company owns while the liabilities and equity side indicates how it is financed. Assets of a typical company are divided into two broad categories- fixed and current assets. Fixed assets are further divided into tangible and intangible fixed assets. Tangible fixed assets include items such as building, plant and equipment while intangible fixed assets refer to valuable assets such as trademark and patent, which do not have physical presence like tangible fixed assets. Asset size as well as liabilities of a company depends on the nature and structure of each business and as such an analyst must be conscious of the peculiarities of the company being analysed. In analysing balance sheet, the analyst, shareholder, creditor or any other stakeholder, should be concerned about three key issues, accounting liquidity, debt and equity and value of assets in relation to cost. Accounting liquidity gives insight into the extent of convertibility of the assets of the company. A company with high liquidity will not have problem meeting emerging financing obligations. The variables that indicate accounting liquidity include current assets- cash and other assets convertible into cash within a year and receivables- the amount yet to be collected from customers; inventory- raw materials, work in progress and finished goods. These three concerns provide valuable insights into the state of a company and its level of solvency or insolvency.

By Taofik Salako

Shareholders must also look at how changes in the economic environment now affect and could further influence the operations of the company. Consideration should be given to the assessment of the current operating environment and the strategy outlined by the board and management to deal with challenges. One issue that usually affects the extent of return to shareholders is the indebtedness of the company. The higher the level of indebtedness, the lower the returns to shareholders since lenders take preeminent position in the allocation of earnings. As such, shareholders need to pay attention to the operating leverage of the company as well as the financial leverage of the company. Operating leverage is the cost structure of a business and the degree to which fixed costs versus variable costs dominate the business. The greater the fixed cost portion of total costs, the higher the operating leverage and the more vulnerable the company is to any contraction in revenue or economic slowdown. Financial leverage is the proportion of debt to equity in relations to total balance sheet of the company. The greater the debt portion of the total funding, the higher the financial leverage and the more vulnerable the company is to slowdown in incomes. Shareholders need to ensure that the financing structure of their company is appropriate to its long-term growth objective and value creation. Financial mismatch has been the bane of poor returns by many companies in recent period. Besides the immediate negative impact on shareholders' returns, financial mismatch places additional burden on shareholders as they will then need to also grapple with possible capital dilutions or provide new funds to restructure the balance sheet. On the other side of the balance sheet or before it, depending on the arrangement of the accounts, is the profit and loss accounts, which details the in-

comes and expenditures of the company. The profit and loss accounts report is important because it presents the extent of value creation and the utilisation of shareholders' funds and other assets. From the turnover to cost of sales to administrative and distribution expenses as well as financing charges, shareholders can be able to trace the top-down efficiency of the company and actually pinpoint the loopholes or highpoints that result in a particular net return. Is the company working for the lenders? What is the ratio of employee productivity to cost of staff? Is the performance due to uncontrollable costs such as costs of sales? Is the phenomenal growth or decline in net return due to one-off extraordinary item? Shareholders need to develop the capacity to provide answers to these questions and many others that could unravel management efficiency or inefficiency. The profit and loss performance is important because shareholders' actual returns- cash dividends and bonus issues or underlying returns are derivable from net profit, after deduction of all other expenses including staff salary and taxes. Besides, as retained earnings build up the shareholders' funds, and as such enhances future returns, net loss is transferred to the shareholders' reserves. Losses transferred to the reserves not only reduce the equity funds, they also undermine the company's ability to pay dividends in the period ahead. Extant corporate laws forbid payment of cash dividends while the company is still carrying negative reserves. Shareholders should therefore regard the annual general meeting as a place for board and management steward-ships. This much is underscored by the rules and regulations that mandate companies to send annual reports and accounts to shareholders several days before the general meeting to enable them carefully examine the report ahead of the meeting.

Corporate Actions

Ways and Means

How to save money on car purchase (3)

OR a new car, it's advisable to have a foreknowledge of the composition of total retail price. Basically, the dealer's retail price consists of two segments: invoice price and dealer sticker price. The invoice price, also known as the wholesale price or factory price, is the cost of the car to the dealer. The dealer sticker price is the retail price and it encompasses the base pricethe cost of the car without options, the costs of installed options and the dealer's profit or markup. But since dealers enjoy several concessions in forms of rebates, allowances, discounts and sales incentives among others, the invoice price is usually higher than the dealer price. As such, it's cheaper to buy from dealer than making direct order from the factory. These differentials explain why several innovative dealers have been able to partner with banks on auto finance at relatively

lower interest rates. With all these, the buyer should now be ready to make the best purchase. While consideration for purchase of emotional items such as car may depend on the buyer's state of mind, taking a systematic approach to the purchase will assist the buyer to cut down price and buy the best car at the best price. It is advised that a buyer visit many dealers and compare prices to get average value of the car, then take the average price as the base price and bargain downward, knowing that every saving is important. The buyer also needs to keep a check list of required options and specifications and he should insist on these. It's advisable to maintain a strictly business attitude while initially discussing the car price as the salesman or dealer can use emotional information such as reasons for the purchase to weigh in on the

bargain. Request for and scrutinise all documenta-tions, do not base your judgement on the dealer's words of honour. Dealing with superior officials at the car garage, for instance, sales manager may provide opportunity to get additional concessions, which only officials at such level can give. Car follows a cyclical trend. There are periods that prices trend upward due to increased demand while they trend downward in other period. The yuletide period is known as the upswing period in the car market as people buy cars to celebrate the festive season. Also, a buyer can target a sales promotion that provides big discounts for buyers, such as the buy two get one free promotion of a particular car dealer. Lastly, before driving off the garage, make a last minute check of all items and documents. (Concluded).

Feedback/Comments: Email: taofad2000@yahoo.co.uk; SMS only: 080-2833-0861

THE NATION MONDAY, MARCH 26, 2012

MONEY LINK

Foreign reserves hit $37.5b F

ing Joint Venture Company (JVC) deductions and subsidies. It said a higher rate of retention of oil revenues should facilitate the efforts at maintaining exchange rate stability as an antidote to imported inflation without excessive reliance on monetary tightening measures. He expects that with the current rise in the reserves will strengthen the naira against major world currencies. He said that to safeguard the value of the domestic currency, foreign reserves are held as

•Nets $2.9b in two weeks

OREIGN reserves rose to $37.5 billion in March 22, from $34.7 billion two weeks earlier, netting about $2.9 billion increase within the period. According to data from the Central Bank of Nigeria’s (CBN) website, the reserves amounted to $34.6 billion as at March 8, 2012. This was an improvement over the $32.64 billion at end of December 2011. The exchange rate at the Wholesale Dutch Auction System (WDAS) moved from N158.6 to a dollar at the end of January 2012 to N156.06 to a dollar on March 22. This led to moderation in the demand for foreign exchange due to increased inflows and reduced

demand. The CBN said improvement in the inflow of foreign exchange was due to the current high crude oil prices in the international markets and the general improvement in the policy environment. These attracted capital flows which influenced the rise in the reserves. Analysts urged the CBN to build up adequate external reserves to satisfy the genuine needs for foreign exchange as such is consistent with the increase in the growth in economic activity. It will equally assist in conserving resources and withstanding exter-

nal shocks. Also, Nigeria’s crude oil production had soared to about 2.6 million barrels per day since June last year supported by surplus demand over crises in the Middle East especially Iran/US face-off. The banking watchdog had recently said it acknowledged the modest increase to the external reserves in recent months. It, however, noted that inflow into the CBN was not consistent with the high oil prices and, this underscored the need for tighter fiscal controls around oil revenues as well as first line charges includ-

The bank said Union Galaxy is an e-payment platform that has both e-payroll e-payment and collection platforms that big, small companies and government ministries, departments and agencies can deploy to seamlessly manage their payments. The distribution and service industry can also use it for bills collection nationwide. FinBank is also showcasing series of consumer loan products such as ‘My salary plus’, ‘Auto loan’; among others. ‘My salary Plus’ is a consumer credit scheme, which is available to salary account holders. It is aimed at affording qualified individuals access to medium term funding of between N200,000 to N5 million repayable between 12

IRSTBank of Nigeria Plc is giving Small and Medium Scale Enterprises (SMEs) opportunity to grow their businesses. In a statement, the bank said although the sector has potentials to employ large portion of the population, lack of support from banks has derailed the sector’s vision. It said the bank has progressively demonstrated that its product offering transcends the regular lending, deposits, trade and treasury products, to the development of financial solutions that enable business owners serve their clients efficiently. This ultimately empowers them to make informed financial decisions for sustained business success. FirstBank’s Head of Marketing and Corporate Communications, Folake Ani-Mumuney explained that U-First is a suite of retail and consumer loan products designed to enable indi-

to 36 months. The product can be accessed by both employees in the public and private sector. Similarly, the Auto Loan is a personal loan to purchase automobile while amortizing payment over a long period of time. The product is available to employees and self- employed persons who wish to purchase new vehicles from the bank’s approved dealers. As a techno-centric Bank, it has also deepened its e-payment platform by strengthening the capacity and security to enhance the convenience it provides for customers. Products on this platform which includes FlashMeCash and Flashwallet are on offer at the Enugu Fair.

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

WHOLESALE DUTCH AUCTION SYSTEM Amount Amount Offered ($) Demanded ($) 150m 150m 138m 138m

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

Price Loss 2754.67 447.80

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 28-04-2011 “ 14-04-2011

GAINERS AS AT 23-3-12 SYMBOL

NCR PAINTCOM PRESTIGE CONTINSURE UAC-PROP LIVESTOCK JAPAULOIL GLAXOSMITH MAYBAKER FCMB

113m

O/PRICE

C/PRICE

CHANGE

12.42 0.81 0.61 0.88 10.50 0.96 0.72 20.21 2.32 4.26

13.04 0.85 0.64 0.92 10.95 1.00 0.75 21.00 2.40 4.40

0.62 0.04 0.03 0.04 0.45 0.04 0.03 0.79 0.08 0.14

SYMBOL

O/PRICE

34.50 10.98 3.66 2.09 5.68 2.38 1.19 42.00 2.79 1.44

C/PRICE

32.78 10.44 3.48 1.99 5.41 2.28 1.14 40.60 2.70 1.40

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

Current Before

29-2-12 27-2-12

113m

155.7

22-2-12

C u r r e n t CUV Start After %

147.6000 239.4810 212.4997

149.7100 244.0123 207.9023

150.7100 245.6422 209.2910

-2.11 -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

Date

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

1.72 0.54 0.18 0.10 0.27 0.10 0.05 1.40 0.09 0.04

Exchange Rate (N) 155.8 155.8

CAPITAL MARKET INDEX Year Start Offer

LOSERS AS AT 23-3-12

UACN FIRSTBANK UBN ACADEMY INTBREW REDSTAREX STERLNBANK WAPCO UBA FIDELITYBK

113m

Amount Sold ($) 150m 138m

EXHANGE RATE 6-03-12 Currency

INTERBANK RATES OBB Rate Call Rate

viduals and small businesses meet their business and personal needs under a flexible repayment structure that is in sync with the best global practices. Ani-Mumuney said that with the U-First loans, small business operators are empowered to take little steps that will ultimately grow their businesses. “Under the U-First umbrella, we have a set of homogeneous loans targeted at individuals and small & medium enterprises (SMEs). The set targeted at individuals are classified as Consumer Loan Products while those targeted at SMEs and entrepreneurs are classified as Retail Loan Products. Every product provides a unique opportunity for beneficiaries to effectively grow their businesses,” she adds. FirstBank’s Retail “U-First Loans” empower individuals and businesses to acquire assets and meet other financial needs at the best possible terms.

DATA BANK

Tenor

NIDF NESF

formal backing for the domestic currency.

FirstBank boosts SMEs with U-First

Union, FinBank showcase products at fair NION Bank of Nigeria Plc and FinBank Plc will deploy their electronic banking products serving their customers at the ongoing Enugu International Trade Fair. In a statement, Union Bank said as the fair, would use its Union Galaxy to delight customers at all times. It said the inauguration of the new Board of Directors for the bank is also an advantage to its numerous customers. “With the injection of $500 million capital and the completion of all the processes required by the regulatory authorities, Union Bank is fully capitalised with a capital adequacy ratio of 19 per cent well above the Central Bank of Nigeria (CBN) minimum required of 10 per cent.

•CBN Governor, Sanusi Lamido

Offer Price

Bid Price

ARM AGGRESSIVE 9.17 KAKAWA GUARANTEED 1.00 STANBIC IBTC GUARANTE 1,177.37 AFRINVEST W.A. EQUITY FUND 99.76 THE LOTUS CAPITAL HALAL 0.76 BGL SAPPHIRE FUND 1.04 BGL NUBIAN FUND 0.88 NIGERIA INTERNATIONAL DEB. 1,666.70 PARAMOUNT EQUITY FUND 8.24 CONTINENTAL UNIT TRUST 1.39 CENTRE-POINT UNIT TRUST 1.87 STANBIC IBTC NIG EQUITY 7,137.57 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 1,160.06 99.49 0.73 1.04 0.87 1,663.73 7.84 1.33 1.80 6,953.84 191.08 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, MARCH 26 , 2012

MONEY MARKET REPORT

Loans’ write-offs slow private sector lending T

HE write-offs of loans by commercial banks ordered by the Asset Management Corporation of Nigeria (AMCON) is adversely affecting private sector lending. It has pushed loans from the banking to the private sector down by 4.4 per cent as at last month to N12.7 trillion, as against N13.3 trillion recorded in January. It, however, increased by 39.1 per cent year on year. The write-offs have been reflected in the banks’reporting for fourth quarter of last year. While the banks have suffered the pain in their profit and loss accounts for the quarter, the Central Bank of Nigeria (CBN) has not revised its aggregate figures retrospectively, but reflected the transactions in its data for February. The larger banks are guiding to loan book growth of about 15 per cent in 2012, and the middle-tier banks closer to 20 per cent. Analysts at FBN Capital said given the limited reach of bank credit across the economy, these are sustainable growth rates. According to a survey conducted by the CBN, 46 per cent of Nigerians are financially excluded, compared with 26 per cent in South Africa and 33 per cent in Kenya. Chief Risk Officer, Nigeria Export Import Bank (NEXIM Bank), Emmanuel Abolo, said banks have improved on their risk management processes afters the CBN reforms. He said lenders are more painstaking in analysing and approving loans than the pre-reforms era.

•Domestics credit to private sector ( % change) Source: CBN, FBN Capital Research

Interbank The interbank lending rates fell sharply last week to an average of 13 per cent, from 15.08 per cent. The market opened with a cash balance of about N194 billion, but ended with a negative balance of N129.55 billion. The secured Open Buy Back (OBB) eased to 12.50 per cent from, 14.50 per cent, 50 basis points above the CBN’s 12 per cent benchmark rate, and 2.50 percentage points above the Standing Deposit Facility (SDF) rate. Overnight placement fell to 13 per cent, from 15.25 per cent, while call money traded closed at 13.50 per cent, against 15.50 per cent the previous week. Traders said rates are expected to inch up this week, as a result of aggressive liquidity mopped-up by the CBN through the sales of treasury bills and other expected cash outflows into foreign exchange and bond purchases. On Wednesday, the naira strengthened against the dollar on the interbank market and held steady on the official window, as large dollar inflows from offshore investors boosted greenback liquidity and supported the local currency. The naira closed at N157.64 to the dollar on the interbank market, firmer than the N157.70, representing 10 kobo gain. However, on Monday, the naira weakened marginally against the dollar on the interbank market as a unit of ExxonMobil sold for about $54 million to some lenders, which reduced pressure on the local currency by gasoline importers. The naira closed at 157.64 to the dollar, compared with 157.60 to the dollar on Friday, four kobo loss. Traders said the pressure on the local currency has increased since the government issued permits to 42 marketers to import fuel in the second quarter.

DMO The Debt Management Office (DMO) said it will auction N50 billion in sovereign bonds maturing in 2019 and 2022 on March 28, its third monthly debt auction this year. It said it would sell N20 billion in 2019 paper and N30 billion in the bond maturing in 2022. The instruments are re-openings of previous issues, with the auction result expected to be released the following day.

Bond market On Friday, activity was minimal in

•Bond movement for the week ended March 22 By Collins Nweze

the Bond market, as Open Market Operation floatation caused dealers to shy off buying. The market awaits the next auction on March 28. On Wednesday, the market was moderately bullish, leading to about 10 kobo price appreciation across board. Bullish sentiment still persisted, however, watered down a bit by the floating of OMO securities by the CBN. At current levels, highest yield in the market was 15.52 per cent. The Bond market was actively bullish on Monday, as there was significant drop in yields across most securities. Prices was rose, appreciating with about 90 kobo. The other 10-year securities also saw about 40 kobo appreciation on average.

Petroleum audit The CBN said it was planning a six-year petroleum import review. The regulator instructed all authorised dealers to, submit data on letters of credit of petroleum products importation carried out from 2006 to last year. A circular signed by Director, Trade and Exchange Department, CBN, Batari Musa said the data should be submitted to his office in both hard and soft copies. The banking watchdog expects all information to be submitted latest by close of work today, warning that defaulters will be sanctioned. Analysts predict that the planned audit would assist the apex bank to check the movement of foreign exchange in the importation of petroleum products during the period under consideration.

AMCON to refinance N1.7t bonds The AMCON has disclosed of its plans to refinance its N1.7 trillion ($11 billion) three-year bond. The bonds came with maturities of between seven and 10 years. AMCON Chief Executive Officer, Mustapha Chike-Obi, told Reuters that the corporation had launched a road-show in Lagos to meet investors and will make trips to New York, Boston and London next month to invite foreign investors to buy the new debt.

Microfinance Development Fund The CBN has unfolded of its plans to establish a Microfinance development Fund (MDF). The fund would assist in addressing the teething challenge of underfunding for microfinance institutions in the country. It will further complement past and current efforts aimed at strengthening the microfinance sub-sector of the financial system, improve financial inclusion and also improve the nation’s Gross Domestic Product (GDP) rate significantly. Sanusi disclosed that efforts were also being made by the CBN to consolidate on the achievements recorded so far by the country in the development of micro finance banks by strengthening the regulatory frameworks and other guidelines. This also includes the formation of National Microfinance Development Strategy with the United Nations Development Programme (UNDP) and the recent signing of a major agreement with the Alliance for a Green

‘

The interbank lending rates fell sharply last week to an average of 13 per cent, from 15.08 per cent. The market opened with a cash balance of about N194 billion but ended with a negative balance of N129.55 billion

’

Revolution in Africa (AGRA).

Cash-less banking The CBN has deferred the take-off date for the cash-less banking initiative in other states till January 1, 2013. The apex bank has extended the implementation of pilot programme in Lagos State from March 31 to December 31, 2012. A statement from the CBN signed by its spokesman,Mohammed Abdullahi, said it took the step to allow people get more conversant with the new policy. He explained that having monitored the partial implementation of the exercise, in Lagos State and following discussions with various stakeholders on the effective implementation of the project, the regulator decided to reassess the policy. The purpose, he said, was to allow for smooth transition and adoption in Lagos State in the first instance and the entire country at a later date.

Power, Aviation Fund

The CBN said it had disbursed a total of N144.6 billion under its Power and Airline Intervention Fund (PAIF) as at December 31, 2011.The banking sector regulator disclosed this in a chart entitled: “Power and Airline Intervention Fund (PAIF) Disbursement of Funds in 2011” posted on its website. From the data, the apex bank disbursed N85.61 billion for 12 projects carried out in Aviation and N55.9 billion for 10 projects executed in the Power sector, making a cumulative N144.6 billion for 20 projects.

World Bank African Finance Ministers have pledged their support for their Nigerian counterpart Dr. Ngozi OkonjoIweala, who is vying for World Bank presidency. Okonjo-Iweala’s candidacy was proposed after consultations between South African President Jacob Zuma and Nigerian President Goodluck Jonathan, Reuters said. A statement from South Africa’s

Treasury said the Finance Ministers of Angola, Nigeria and South Africa would hold a news conference in Pretoria although it did not disclose details of the agenda.

Bank to bank results Guaranty Trust Bank audited result for the year ended December 31, 2011 shows gross earnings of N188.8 billion, as against N153.9 billion in the comparable period of 2010. Profit after tax and extra-ordinary item stood at N52.6 billion compared with profit after tax of N38.3 billion in 2010. The Net Asset Value stood at N238.7 billion compared with N210.8 billion in 2010. The Board of Directors is recommending a final dividend of N0.85 per share. Access Bank audited result for the year ended December 31, 2011 shows gross earnings of N138.9 billion as against N91.1 billion in the comparable period of 2010. Profit after tax stood at N16.7 billion, compared with N11 billion in 2010. The Net Asset Value stood at N197 billion compared with N175.3 billion in 2010. The Board of Directors is recommending a final dividend of N0.30 per share. First City Monument Bank audited result for the year ended December 31, last year shows gross earnings of N80.3 billion as against N62.6 billion in the comparable period of 2010. Loss after tax stood at N9.9 billion compared with profit after tax of N7.9 billion in 2010. The Net Asset Value stood at N117.6 billion compared with N134.7 billion in 2010. The Board of Directors recommended a bonus of three for 20. Zenith Bank posted a Profit Before Tax (PBT) of N60 billion which represents an increase as against N50 billion recorded in the corresponding period of 2010. Profit after Tax (PAT) stood at N44 billion over N37 billion, an increase of 18 per cent. The bank has proposed a dividend payout of N29.8 billion up from N26.7 billion paid out in 2010.

THE NATION MONDAY, MARCH 26, 2012

THE CEO

The Managing Director/ founder, Cowry Asset Management Limited, Mr Johnson Chukwu, is a leading investment banker and a multi-dealing operator in the capital market. In this interview with TAOFIK SALAKO, he speaks on the prospects of the economy and the financial services industry, how to halt the decline in the capital market and building Nigeria as a competitive economy, among other issues.

‘Reforms ‘ll unlock Nigeria’s economic potential’

• Chukwu

HY is the capital market still down, despite the recovery in some fundamentally-challenged economies? The capital market has remained in the doldrums in spite of recovery in the equity markets of some other challenged economies, such as the United States’, due to a multiplicity of factors. Some of these are due to Nigeria’s fiscal and monetary management, securities market regulations and other global factors beyond our control. Chief among these factors is the high interest rate environment, which makes investment in fixed income instruments more attractive than equity investments. If you add the current average dividend yield of about 2.5 per cent to the year- to-date return of the benchmark index at the Nigerian Stock Exchange (NSE), you will still get a return far below the average yield of 16.75 per cent on 364 days trea-

sury bills, like the one auctioned on December 22, 2011, which will mature on December 20, 2012. Even when one compares the most-optimistic forecast of equity market performance in 2012, of about 13 per cent return with the current risk-free, treasury bills return of 16.76 per cent, you end up with a preference for fixed income instruments. Other factors that have constrained the recovery of the equity market include the collateral damage caused by the nationalisation of three of the rescued banks. The nationalisation meant that investors in these banks lost their entire equity investments, which compounded the already low investors’ confidence and appetite in the market. The sovereign debt crises in Europe have also been sources of drag to the recovery of the equity market. This is due to the fact that

foreign investors account for more that 70 per cent of investments in the Nigerian equity market and most of the investors were compelled to recall their investments from riskier emerging and frontier markets due to the threat of sovereign debt default by Greece. Against this background and from first quarter trend, what’s the outlook for the capital market this year? With the near resolution of the crises in the banking industry, which accounts for more than 50 per cent of market activities, I believe that the fundamentals of the capital market have improved significantly. Despite these improvements, I think that the market will at best record moderate appreciation in market indices at the end of the year given current preference for fixed income instruments due to their higher yield and low

risks. Generally, how do you see the economy performing? The key challenges facing the economy include lack of basic infrastructure such as efficient and reliable energy supply, transport infrastructure, high level of corruption and policy inconsistency. Other challenges include the monolithic nature of our export products, which exposes the economy to the vagaries of oil price movements. To address some of these challenges, the government should ensure the successful implementation of its reform initiatives in the power sector by not only privatising the 17 distribution and generation companies but ensuring that they are sold to capable operators with the requisite technical and financial resources • Continued on page 33

, 2012

THE NATION MONDAY, MARCH 26, 2012

THE CEO

‘Reforms ‘ll unlock Nigeria’s economic potential’ •Continued from page 32

to manage them efficiently. The government should also ensure that the Petroleum Industry Bill is passed into law and that the deregulation of the downstream sector of the oil industry is driven to a logical end. On transport infrastructure, the government should ensure that the Railways Act is repealed to allow for private sector participation in this segment. The concession of some of the nations’ highways should also be pursued with more vigour and transparency. The privatisation of some of these key sectors of the economy will reduce the opportunities for rent seeking in the economy with consequent reduction in corruption. The ongoing reform in the agricultural reports, which is designed to enhance the value chain of our agricultural products, will help the country reduce its dependence on crude oil export for foreign exchange earnings. Given all these, the prospects of the economy is quite strong. especially when you consider the series of ongoing reforms in the power sector, agriculture, oil and gas and other key sectors. For an economy that is able to grow at above seven per cent yearly, despite its huge infrastructural deficit, there is no doubt that the economy will be able to record double digit growth once these constraining factors are removed. If the government religiously implements the ongoing reforms in the power sector; transform the agriculture value chain, implement a new fiscal framework for the upstream oil and gas sector, under the proposed Petroleum Industry Bill (PIB), as well as liberalise the downstream sector, the GDP

growth rate should drastically increase from the current rate to its potential growth rate, which is estimated to be above 20 per cent. The deadline for the transition to International Financial Reporting Standard (IFRS) by quoted companies is December 31, this year. How do you see this affecting quoted companies? Do we really need the full adoption now? The adoption of IFRS by quoted companies in Nigeria will greatly enhance the confidence of foreign investors in the integrity of financial reports published by companies. Given that foreign investors currently account for more than 70 per cent of total transaction executed at the Nigerian Stock Exchange, any factor that can boost their confidence will impact positively on the market. Secondly, the financial sector is becoming more and more integrated into the global financial industry, it is therefore imperative that financial reports issued by entities should be prepared in a format that will make them comparable with similar institutions from other jurisdictions. If you are given the responsibility to provide a rescue package for the capital market, what would be your immediate concerns? While I support the plan to provide some form of rescue package for the capital market, it is necessary that the rescue package is structured in a form that will not pose moral hazard for the system. For instance, any rescue package that involves intervention by government or its agency in the purchase of shares to prop up their prices will lead to artificial market recovery and, ultimately, create more instability in the market. The proposed debt forgiveness may be

‘The capital market has remained in the doldrums in spite of recovery in the equity markets of some other challenged economies, such as the United States’ a due to a multiplicity of factors’

• Chukwu

the most appropriate tool to relieve capital market operators of their current debt over-hang. It will, however, not solve the fundamental problem of lack of enough revenue from dealing and brokerage activities to sustain business operation, for most stockbroking houses. With continued operating losses, most houses would either have to merge or close shop. The decline in the capital market has been linked generally to lack of liquidity, what can be done to enhance liquidity? The loss of liquidity due to the exit of foreign fund managers and withdrawal of margin facilities in 2008 might have caused the market crash but I doubt if one can still ascribe the parlous state of the market to absence of liquidity in the economy. I think that there are sufficient system liquidity and investible funds in the economy. The problem is that returns on equity instruments are not as attractive as other investment instruments; hence, investors’ preference for other instruments such as Treasury Bills and Federal Government bonds, among others. For instance, under the PENCOM guideline, Pension Fund Administrators can invest up to 25 per cent of their assets under management in equity instruments. With total assets under management of N2.6 trillion, it means that PFAs can invest as much as N650 billion in equities. But due to lower return on equities, PFAs’ portfolios are underweight in equities and over-weight in fixed income instruments. Secondly, our economy has recently witnessed an influx of foreign portfolio managers but most of their investments have gone into fixed income instead of equity instruments. In summary, liquidity will go to where there is better return. As long as our economy offers very attractive return on fixed instruments, equity market will continue to suffer from dearth of liquidity. As a member of the Nigerian Stock Exchange and a key operator, what’s your opinion on demutualisation of the NSE? The planned demutualisation of the Nigerian Stock Exchange is a laudable initiative. Demutualisation will make for broader ownership of the Exchange, better corporate governance standards and more transparency in management. These factors will in-turn lead to improved investor confidence as well as align our capital market with international standards and practices. How attractive is our economy and capital market to foreign investors? The economy is quite attractive as an investment destination due to its huge return prospects in virtually all the sectors. Our economy is one in which there is no single sector that has matured. All the sectors present attractive growth opportunities. The energy sector, telecommunications, solid minerals, agriculture, oil and gas, construction, housing, education, health, hotels and hospitality and tourism, among others, all present opportunities for exceptional returns to investors. As for the attractiveness of the capital market, I would say that the capital market prospects always mirror the entire economic prospects and performance. Although the capital market might has lagged behind the general economy’s performance in the past few years, in the long run, its performance is bound to align with the performance of the overall economy. There have been clamours for listings by multinationals and other

• Chukwu

‘Given all these, the prospects of the economy is quite strong, especially when you consider the series of ongoing reforms in the power sector, agriculture, oil and gas and other key sectors of the economy’ key companies, how do you think these companies can be made to come to the stock market? I will suggest that the government and regulators adopt the use of incentives to encourage multinationals to list on the Nigerian Stock Exchange instead of coercion. Such incentives may include lower corporate tax rate or differential rate of withholding tax on dividend for quoted companies. If the government introduces a lower tax rate on dividend paid by quoted companies, the shareholders of the multinational companies will be the ones to compel their management to get their companies listed. Other measures to make listing attractive to companies include making the listing and post-listing requirements less onerous. I believe that we should do everything to ensure that our capital market remains a free market where there is freedom of entry and exit; companies are attracted to list and not necessarily forced to list, where benefits of listing far out-weigh the costs. Frankly, is our market ripe for derivatives and other complex products? We all agree that we should deepen our market by increasing the number and type of tradeable instruments. Our target should be to make our market as robust as those of other emerging capital markets like Johannesburg Stock Exchange (JSE). We should, however, introduce these products in a phased order allowing enough time for market operators to understand each new product before a new one is introduced. Secondly, the regulators should step up the training of market operators so that their skill sets can keep pace with developments in the market.

I think the market is ripe for gradual introduction of less complex derivatives. What’s your company doing to encourage investors and attract Nigerians to the capital market? We are in the process of obtaining a licence from the Securities & Exchange Commission (SEC) to launch some collective investment instruments. We have already incorporated a subsidiary company, Cowry Treasurers Limited, to manage the mutual funds when we secure the licence. We are also in talks with companies that want to give up fund management licence in compliance with their industry regulation. We believe that mutual funds are the most appropriate channels for retail investors to come back to the market as these present them the vehicles to diversify their portfolios and moderate their risks. They also avail them the technical competence of the fund managers for determining good investment opportunities, which they as retail investors may lack or cannot afford. We believe that once we launch the mutual funds and prove to retail investors that we can out-perform the markets, more investors will come back to the market through these collective investment instruments. Is there any nagging risk in the economic and investment horizon? There seems to be an emerging scenario where permutations on the 2015 general elections will exert undue pressure on policy decisions of the government. This presents a clear danger to the ongoing economic reforms, as government may be tempted to scale down or suspend unpopular but necessary reforms and initiatives in deference to political pressure.

THE NATION MONDAY, MARCH 26, 2012

EQUITIES

Investors stake N16b on equities

NIGERIAN STOCK EXCHANGE DAILY SUMMARY AS AT 23-3-12

NVESTORS staked N15.7 billion on a total of 1.21 billion shares through 17,979 deals last week on the Nigerian Stock Exchange. Banking subsector remained the most active subgroup with a turnover of 818.5 million shares worth N6.5 billion in 9,789 deals. Insurance subsector occupied a distant second position with a turnover of 105.62 million shares valued at N64.55 million traded in 730 deals. The overall market position closed on the positive in spite of the contraction

By Taofik Salako and Tonia Osundolire

in the last trading session. Week-on-week, the All Share Index (ASI)- which tracks all quoted equities, appreciated by 1.8 per cent to 21,191.22 points while aggregate market value of equities rose to N6.721 trillion. Most value-based indices also showed positive trend. The NSE-30 Index, which tracks 30 most capitalised companies, appreciated by 2.7 per cent to close at 972.34 points. The NSE Consumer Goods Index appreciated by 1.7 per

cent to close at 1,746.79 points. The NSE Banking Index improved 4.1 per cent to close at 302.46 points. The NSE Oil and Gas Index increased by 0.9 per cent to close at 218.17 points. However, the NSE Insurance Index declined by 1.0 per cent to close at 120.16 points. UAC of Nigeria Plc led the pack of 38 advancers with a gain of N3.78 to close at N32.78 per share. Nigerian Breweries Plc followed with a gain of N3 to close at N98 per share. On the other hand, Julius Berger Nigeria led 22 other stocks on the downside, dropping by N2.73 to close at N29 per share. Seven-Up Bottling Company Plc followed with a loss of N2.15 to close at N41.75 per share.

NIGERIAN STOCK EXCHANGE DAILY SUMMARY AS AT 23-3-12

THE NATION MONDAY, MARCH 26 , 2012

EQUITIES WATCH

Email: taofad2000@yahoo.co.uk

Presco Plc has sustained consistent positive returns despite the recession at the stock market. Now trading at its highest price in more than four years, TAOFIK SALAKO looks at the expectations behind the rising price trend

HE market situation at the Nigerian stock market remains cautious and ponderous. With a year-to-date return of 2.56 per cent, the recovery at the stock market is still delicate. Equities' return generally still trails returns by several fixedincome instruments, which could weigh in on equities' pricing after the earnings' season rally. But there are also many considerable intervening factors that could influence market direction either way. While the market situation remains edgy, there are several stocks with significant returns far above average returns by any other securities including fixed-income instruments. Presco Plc is one of the leading recessionresistant stocks. The agricultural stock has sustained an impressive pricing trend over the course of the stock market recession. The Nigerian stock market posted a negative return of 16.31 per cent in 2011, implying a loss of about N1.4 trillion. Aggregate market capitalisation of all quoted equities slumped to N6.533 trillion at the end of last trading session for 2011 as against the year's opening value of N7.914 trillion. The benchmark index, the All Share Index (ASI), which serves as the common gauge for all quoted companies as well as country index for Nigeria, fell to 20,730.63 points from its 2011's value-on-board of 24,770.52 points. Against the overall market situation, Presco Plc posted a return of 26.6 per cent, sustaining a rally that saw its share price closing at its highest level in 2011. This translated to a capital gain of N1.82 billion for shareholders of the company. So far this year, Presco has consistently outperformed the overall market and currently carries one of the highest returns this quarter. Presco has nearly achieved its 2011's full-year return within the first quarter. Presco opens today with a year-to-date return of 23.5 per cent, some 21 percentage points above the average return. This implies that investors in Presco have gained N2.04 billion. At current market consideration of N10.71 per share, the company maintained month-on-month uptrend. Against its 2012's opening price of N8.67 per share, Presco had closed February at N8.89.

Fundamentals of pricing Presco's secondary market pricing appears to be directly linked to the company's fundamentals. With 35 per cent growth in sales and 357 per cent increase in profit after tax for the 2010 business year, Presco had increased cash payouts in 2011 by 150 per cent. Key underlining fundamentals of the agricultural company showed a robust outlook. Profit before tax margin increased from 8.4 per cent in 2009 to about 25 per cent in 2010. Return on equity rose from 9.1 per cent to 31 per cent

2005

2006

2007

2008

2009

2010

Presco: Bear resistant while return on total assets increased from 4.5 per cent to 18 per cent. Total sales had increased from N4 billion to N5.4 billion. Profit before tax jumped by 295 per cent from N338 million in 2009 to N1.33 billion for the 2010 business year while profit after tax leapt by 357 per cent from N239 million to about N1.1 billion. With net earnings per share rising from 24 kobo to N1.10, the company increased gross dividend from N200 million to N500 million, indicating a dividend per share of 50 kobo for 2010 as against 20 kobo for 2009. Even with the one and a half increase in dividend, dividend cover was better at 2.2 times in 2010 as against 1.2 times in 2009. Net assets per share also improved from N2.62 to N3.52.

Market Info The current bullish pricing trend is driven by investors' dividend expectation and

possible yield. With Okomu Oil Palm's impressive dividend per share of N4, bargainhunting investors are focusing on Presco as the next agricultural stock with prospects for good dividend yield. By the third quarter of 2011, Presco had significantly surpassed its 2010 full year performance. Third quarter sales stood at N5.72 billion while pre and post tax profits closed the nine-month period at N1.75 billion and N1.5 billion respectively. With Q3 earnings per share at N1.50, retention of the payout rate of 45.5 per cent used for the distribution last year would result in a dividend per share of 68 kobo, indicating a dividend yield of 6.3 per cent at current market consideration. This is the most conservative return expectation. With probable net earnings per share of some 200 kobo, several market pundits expect a three-digit dividend rate. This brings probable dividend yield to about 10 per cent, a significant boost to capital appreciation. Beyond immediate dividend horizon, several analysts still see significant

â&#x20AC;˘MD, Presco, Mr Uday Pilant

headroom for capital appreciation and dividend growth as Presco consolidates its performance. That appears to be the driving motive for medium to long-term investors.

THE NATION MONDAY, MARCH 26 , 2012

DUE DILIGENCE

Afromedia: Worrisome trend A

FROMEDIA Plc suffered a major reversal in the immediate past year as decline in turnover amid significant rise in costs resulted in substantial loss. Audited report and accounts of the marketing media company for the year ended September 30, 2011 showed a generally negative profit and loss position. With 13 per cent drop in sales, 30 per cent increase in operating expenses and 32 per cent rise in interest expenses, the company reversed from a net profit position of N440 million to a net loss position of N301 million. The downtrend also coloured the balance sheet, which saw declines in total assets and shareholders' funds. Although its equity funds overweighed total sales, a major spike in short-term borrowings shot up the financial leverage of the company. Equity fund however, provided better coverage for total assets. Besides, the company remained sufficiently liquid. In spite of the negative bottomline, the company has declared a cash dividend of 2.5 kobo per share and a bonus issue of one for 20 shares. The bonus issue is expected to add some 202 million ordinary shares to the outstanding shares of the company.

Financing structure Afromedia's paid up share capital stood at N2.02 billion, consisting some 4.36 billion ordinary shares of 50 kobo each. Shareholders' fund however, slipped from N5.17 billion in 2010 to N4.87 billion in 2011. Total balance sheet size contracted to N8.79 billion in 2011 as against N12.16 billion in 2010. Current assets had dropped from N9.68 billion to N6.54 billion non-current assets slipped from N2.48 billion to N2.25 billion. Meanwhile, total liabilities also dropped from about N7 billion to N3.93 billion. The underlying financing structure was mixed. The proportion of equity funds to total assets improved from 42.5 per cent to 55.3 per cent but the debt-to-

Fiscal Year Ended Sept 30 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;˘Olopade, MD/CEO Afromedia Plc

complies broadly with codes of corporate governance and best practices.

Analyst's opinion 2007

2008

2009

increased by 30 per cent to N1.61 billion compared with N1.24 bilequity ratio jumped from 1.3 per lion. With interest expenses also cent to 15.3 per cent. Short-term rising by 32 per cent from loans had leapt by 1026 per cent N177.13 billion to N234.26 bilfrom N66 million in 2010 to N747 lion, Afromedia ended 2011 with million in 2011. a pre-tax loss of N410 million compared with profit before tax Efficiency of N620 million posted in 2010. After taxes, net loss stood at N301 The company obviously wit- million in 2011 as against profit nessed significant reduction in its after tax of N440 million in 2010. average productivity and cost efFurther earnings analysis ficiency. With total cost of busi- showed net loss per share of 7.5 ness- excluding financing kobo in 2011 compared with earncharges, overwhelming sales at ings per share of 10.9 kobo in 105.6 per cent, decline in effi- 2010. The company halved cash ciency laid the foundation for ero- payout to N100.9 million in 2011 sion of profit margins. However, as against N201.8 million distribthe actual per head factor in the uted for the 2010 business year. overall cost efficiency structure These indicated dividend per cannot be determined on the ba- share of 2.5 kobo and five kobo sic of available data. for 2011 and 2010. However, while dividend distributions Profitability were made from net earnings in 2010, the company would be dipBoth actual and underlying ping into its reserves to pay diviprofitability measures showed dends for the 2011 business year. generally negative profit outlook Net assets per share also inched as declining sales compounded downward to 121 kobo comrelatively significant increases in pared with 128 kobo posted in costs, leaving shareholders with previous year. net loss per share of 7.5 kobo. ToUnderlying profitability indices tal turnover dropped by 13.2 per showed a generally weak outcent from N3.73 billion to N3.24 look. Gross profit margin billion. Cost of sales stood at dropped from 54.5 per cent to N1.81 billion in 2011 as against 44.1 per cent. Profit before tax N1.70 billion in 2010. Conse- margin reversed from 16.6 per quently, gross profit dwindled by cent to -12.6 per cent. Compared 30 per cent from N2.03 billion to with a positive return of 5.1 per N1.43 billion. Operating expenses cent on total assets in 2010, return on total as2011 2010 sets stood at -4.7 per cent in 2011. 12 months % change 12 months By Taofik Salako

3,240 3,240 1,810 1,430 1,612 7 234.26 -410 -301 -14.9 50.4 2.5 241

-13.2 -13.2 6.5 -29.7 29.9 20.5 32.3 -166.1 -168.4 -168.3 -50.0 -50.0 -5.9

3,733 3,733 1,700 2,033 1,241 6 177.130 620 440 21.8 100.9 5.0 256

1,897 2,249 3,711 6,541 8,790

-11.1 -9.4 21.7 -32.4 -27.7

2,134 2,481 3,050 9,682 12,163

320 747 NA NA 3,926

138.3 1026.0 0.0 0.0 -43.9

134 66 NA NA 6,997

2,018 4,865

0.0 -5.8

2,018 5,166

2010

2011

Return on equity funds was negative at minus 6.2 per cent in 2011 as against 8.5 per cent in 2010. Dividend cover relapsed from 2.18 times to minus three times.

Liquidity The liquidity position of the company, to a large extent, remained sufficiently adequate. Although there were no data to assess the critical current ratio, the proportion of working capital to sales was stable at 68.5 per cent in 2011 as against 68 per cent in 2010. Debtors/creditors ratio stood at 1160.4 per cent compared with 2272.7 per cent in previous year.

Governance and structures Afromedia is a Nigerian company. Incorporated in 1959, it was listed on the Nigerian Stock Exchange (NSE) in 2009. Afromedia has five subsidiaries and associated companies including Afromedia Gambia Limited, Afromedia Africa Propriety Limited, Optmedia Limited, Outdoor Exchange West Africa Limited and Independent Poster Care Limited. There were no major changes in the board and management of the company during the period under review. Dr Onaolapo Soleye still chairs the board of directors while Mr Akin Olopade leads the executive management as managing directors and chief executive. The company

Fiscal Year Ended December 31

The performance of Afromedia in 2011 reflected the general slowdown in the economy. Although sustained Gross Domestic Products (GDP) growth over the years has reckoned Nigeria as one of the resilient economies, the lopsided economic structure and dominance of the few hardcore sectors imply that GDP growth does not usually translate into economic growth and development. With the crunchy reform in the banking sector, the prolonged recession at the capital market and generally tough operating environment, service-based companies such as Afromedia are more susceptible to the slowdown. For Afromedia, the adverse impact of the sluggish economy is evident in reduction in campaign budgets and unoccupied advert spaces. Afromedia may need to consider a general corporate review to efficiently align its capitalisation to corporate size and business prospects, deleverage its balance sheet and improve asset utilisation and efficiency. Against the net loss during the year, dividend distribution recommended by the board implies that the company is indirectly returning capital to shareholders. This may be appropriate if the board considers that there is tendency towards overcapitalisation. Rather than increasing already large outstanding shares through a new bonus issue, a reverse splitno matter, how painful, would enable the company to achieve a compact share capital relative to its size. For Afromedia, last year was a signal year and the company needs to reassess its horizon. The future outlook depends on this reassessment and resultant growth initiatives.

2011 %

2010 %

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

55.3 NA NA 15.3

42.5 NA NA 1.3

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

44.1 -12.6 -4.7 -6.2 -5.96

54.5 16.6 5.1 8.5 4.36

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

NA NA 105.6

NA NA 78.8

Liquidity Current ratio Working capital/Turnover Debtors/Creditors

NA 68.5 1160.4

NA 68.0 2272.7

JOBS THE NATION

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

THE NATION MONDAY, MARCH 26, 2012

• Palmnut cracker (Inset: Palm Fruit)

Cross River State is popular for its oil palm plantations and palm oil production. The business, however, became moribund. To revive the sector, the Governor, Liyel Imoke, has embarked on a privatisation drive, from which about 5,000 jobs are expected, reports DUPE OLAOYE-OSINKOLU.

More jobs coming as Cross River invests in palm oil

HE Southsouth states are noted for their interest in crude oil and petroleum products’ business. One of the states, Cross River, is, however, an exception as it forays into another area. Known for its outstanding feats in traditional businesses, such as arts and crafts and tourism, the state has just created 5,000 jobs in mechanised palm oil mills. The government-owned medium-scale oil palm business, somehow, collapsed before the advent of this administration.

The state has one of the largest oil palm plantations in the country. To revive and improve upon the oil palm business, Governor Liyel Imoke invited the private sector to partner with the government under a Public-Private Partnership (PPP) deal to re-establish the oil

mill. It has gone from medium-scale to large industrial mill. The revival began with the government calling for bids from interested firms. Five companies indicated interest in the palm oil refinery. It was won by Wilmar Interna-

tional, a big consortium in the oil palm business. The company has turned the Calaro Oil Palm Estate into a big industrial arena, with about 5,000 workforce from inception. As the business progresses, there will be room for more employment, the Special Assistant, Media/Chief Press Secretary to the Governor, Omini Oden, said in a telephone interview with The Nation. • Continued on page 38

THE NATION MONDAY, MARCH 26, 2012

JOBS

More jobs coming as Cross River invests in palm oil • Continued from page 37

He said the host community witnessed the signing of the agreement and they endorsed what the Governor is doing, adding that the bidding involving the five companies was open and transparent. The oil palm plant occupies about 50 hectares of land. Large-scale plants, reflecting the various stages of growth required to produce palm oil to international standards are in place. The state is, therefore, setting the pace in the conversion of crude palm oil to refined cooking oil, he said. Omini added that besides jobs creation in the community which covers handling of palmnut bunches, harvesting, processing, packaging and transportation, the government ensured more benefit for the community through the award of scholarships to their children and payment of royalty to the community. This, he said, would enable it establish schools and health care centres, among other modern amenities. One of the community leaders, Chief Celestine Awor, commended the government for reviving the oil mill, saying the community would co-operate with the government to ensure the success of the palm oil refinery. The venture, Omini explained, is in fulfilment of promises made by the governor earlier, in which

he committed to creating about 7,000 jobs in the state through the establishment of an palm oil refinery. Assuring his people and those residing in the state of jobs while featuring in a Cross River Broadcasting Corporation (CRBC) radio programme tagged “Two hours with the Governor”, Imoke said a foreign investor had indicated interest to set up the processing plant that would refine palm oil into vegetable oil and other edibles, adding that the establishment of the refinery was in line with the commitment of his administration to ensuring food security and creating jobs. He said the plant would occupy more than 50 hectares of land, stating that efforts to mechanise and improve traditional manual procedures led his administration into partnership with a private sector engineering company. “I saw the company that will come and put this refinery in place in Singapore. In one location alone, the company em-

• Minister of Labour, Chukwemeka Wogu

ployed 16,000 people, meaning that if it is here in the state, it will engage as many as 7,000 Cross Riverians, thereby reducing drastically, our unemployment rate. “The state is blessed with agricultural produce; all we need to do, at this point in time, is to ensure that they are converted into industrial purposes rather than

• Imoke

just leaving them for household and immediate use; we need to think of tomorrow,” the Imoke stated. For Cross River, the job creation also affects other areas of its economy. The governor also said he has laid the foundation stone of Portside Industrial Park at Esuk Utang in Calabar, where

‘The state is blessed with agricultural produce; all we need to do, at this point in time, is to ensure that they are converted into industrial purposes rather than just leaving them for household and immediate use; we need to think of tomorrow’

activities are currently taking place. He praised the commitment of the private sector in complementing the industrialisation efforts of the government, adding that partnership with the private sector would ginger confidence in the system. Imoke said the private sector has already invested N800 million in the portside project at a time the government was yet to make any financial commitment on it. He solicited the co-operation of the people in regulating the activities of tank farm operators at the industrial areas, adding that orderliness must be introduced to the system to promote investment.

MOVER AND SHAKER

HE Nigerian Academy of Engineering has appointed Alex O. Amaeshi as its Executive Director. A seasoned administrator with over 30 years experience in engineering management, project planning, design and construction management, he worked at

Engineering Academy appoints ED ExxonMobil and Shell for over 16 years. He is a consultant to many high grade companies in the oil and gas industry.

A 1980 graduate of the University of Nigeria, Nsukka, Amaeshi is a COREN registered engineer. He belongs to many professional organisations.

He is a member of the Nigerian Society of Engineers (MNSE); member, Nigerian Institution of Civil Engineers (MNICE), member, American Society of Civil En-

gineers (MASCE), and member, American Construction Institute (MCI). Amaeshi will be in charge of the administration of the academy and the delivery of its plans and programmes. He will oversee the growth phase of the academy.

CAREER MANAGEMENT

JOB application (referred to as cover letter by Americans) is the first impression a potential employer gets of you, and it can make or break your chances. As you only get one chance to make a positive first impression, then you need to be careful and do your level best to do everything right. Something to honest confession: Following these guidelines perfectly won’t guarantee that all your application will get you somewhere as some manager look for some pretty strange things. Application form Some jobs require an application form and some don’t. When there is an application form (sometimes called application blank), it asks for the information the employer most wants to know, like work experience. Most information required is already on the Resume. Nevertheless, it is important thing to include all the relevant information. The reason employers take this route is to provide a standard format foe assessing applicants. Don’t leave a field blank unless it’s optional or you don’t have any rel-

How to apply for a job By Olu Oyeniran

evant information to include. Another important thing to do right is how you format the information in each field. If you format things like your phone number or your name (I have seen it) incorrectly, an employer is likely to assume you have poor communication skills. This means proper capitalisation in text, proper grouping in phone numbers and proper layout of things like addresses. Cover letter Sometimes entry level positions wouldn’t require a cover letter but all higher level and professional jobs do. Your cover letter should be tailored to the specifically to the job you’re applying for and, when possible, addressed directly to the hiring manager or the person-withthe-power-to-hire. A cover letter should be brief, generally one page and never more than two, and professionally written. You should clearly state why you think you would be most suited to the position and the organisation.

It’s crucial that your spelling and grammar are correct: One spelling error could remove you from consideration instantly. Read over your cover letter at least once, probably twice, before it goes off to an employer. Better still, get somebody to look it over for you. Résumé Your résumé is the core of your application and thus the most important. It’s always a good idea to tailor your résumé to the job somewhat and you absolutely must format it correctly. (You’ve probably noticed a theme.) It should be separated into sections that deal with the things employers look for, like work experience and education. Be sure to keep all your points brief. Say the most important things first. Hiring managers have a large volume of applications to review and only have a few minutes to look at each one. Typos, grammatical errors are a no, no, no. If you feel needs to be expanded on you can do so in your cover let-

ter but only if it’s particularly relevant. Email application Even though email is usually regarded as quite casual, an email application is not. You generally don’t need a separate cover/application letter; the email body can serve that purpose. All the same rules apply to the email that apply to a conventional cover letter. The subject line should always contain the position you’re applying for. Addressing the hiring manager In cases where you know the name of the hiring manager, you need to address them properly. The rule of thumb is to start as formal as possible and get more casual when they indicate it’s appropriate. Obviously, if all you know is a first name then it’s appropriate to use it but if you know a surname then that’s what you should use to start with. The only exception is when you have no indication of what the appropriate salutation would be, like

if they have a unisex first name such as Alex. If you’re applying to me, you should start by addressing me as Mr Oyeniran and later, once I’ve demonstrated that I’m a fairly casual employer you could start addressing me as Steve or Steven if you’d like. Truth is the last part hardly apply in this part of the world. Application method Most job postings include how you should apply and all list at least one piece of contact information. When there’s an application method listed, that’s how you need to apply. Otherwise you could be eliminated without your application even being read. If there’s only contact information, then the method is at your discretion, just be sure to do it properly. Hopefully, you found this helpful and will make your job search easier.

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

THE NATION MONDAY, MARCH 26, 2012

BUSINESS INTERNATIONAL

China factories slump amid low demand

HINESE factories are slowing sharply, dragging on employment amid a deepening slowdown in global demand and aggravated by a stall in domestic consumption, according to this month’s survey data showing new orders at a four-month low. A preliminary reading of HSBC’s manufacturing purchasing managers’ index for March, released Thursday, printed at 48.1 on a 100-point scale, down from a final reading of 49.6 month. The flash PMI is based on 85 per cent to 90 per cent of the total responses during a given month and

is an early indicator of business conditions facing Chinese manufacturers. In comments accompanying the data, HSBC economist Hongbin Qu sounded a bleak tone, highlighting the impact of the weak demand upon hiring trends. “Weakening domestic demand continued to weigh on growth, as indicated by a slowdown in new orders, which came in at a fourmonth low,”said Qu. “More worryingly, employment recorded a new low since March 2009, suggesting slowing manufacturing

production was hindering enterprises’ hiring desire.” The deterioration in orders matched a surprise slump in industrial-production growth, adding to the darkening outlook, which will play a role in factory managers’ decisions. “External demand remained in contraction territory, but the decline was at a slower pace, implying that there are no improvements in the demand outlook,” Qu said. Stocks reacted poorly to the data, with many Asian indexes turning negative following the release.

Qu cautioned that a further deceleration in growth is to be expected with export orders sluggish and domestic demand softening. “This calls for further easing steps from the Beijing authority,” Qu said in the note. Qu’s comments echoed calls from within mainland China to ease policy, with the influential state-run China Securities Journal printing an editorial calling for an interest-rate cut by the second quarter of this year at the latest. The PMI showed output swinging to contraction from expansion,

while both new orders declined and order backlogs were shrinking at faster rates. Among the bright spots, the rate of decline in new export orders had slowed. Credit Agricole CIB said the results likely meant that a soft patch in industrial output would emerge in the May-June period. Still, the French bank said it was more a case of Chinese factories suffering through their darkest hour rather than the beginning of a more serious deterioration in conditions.

Eurozone contraction worsens, strengthens recession fears UROZONE private sector contraction, unexpectedly, deepened in this month as activities in both manufacturing and service sectors deteriorated further adding to concerns that the economy may have slid back into recession. A survey by Markit Economics revealed on Thursday that the flash composite output index fell to a threemonth low of 48.7 in March from 49.3 last month. An index reading below 50 suggests contraction. Economists had expected the score to improve to 49.6. The latest reading signaled a contraction in business activity for the second successive month, and the sixth decline in the past seven months. “The Eurozone economy contracted at a faster rate in March, suggesting that the region has fallen back into recession, with output now having fallen in both the final quarter of last year and the first quarter of 2012,” said Chris Williamson, chief economist at Markit. Private sector output rose in Germany, but the rate of growth slowed to a three-month low. Output, meanwhile, fell slightly in France for the first time in four months, and dropped sharply again in the rest of the region. Eurozone’s flash manufacturing purchasing managers’ index fell to a three-month low of 47.7 this month from 49 in the previous month. Econo-

From right: Chairman/CEO, Cessna Aircraft,Scott Donnelly, in handshake with Vice-General Manager, Aviation Industry Corp. of China (AVIC), Xu Zhanbin, during a signing ceremony for a jet co-operation project between the two corporations, at the Great Hall of the People in Beijing, China ... at the weekend.

Japan reports trade surplus

APAN has reported an unexpected trade surplus for last month and higher-than-forecast exports, adding to evidence of a rebound in the world’s third-biggest economy. Overseas shipments dropped 2.7 per cent from a year earlier, the Finance ministry said in Tokyo. The median forecast of 28 economists surveyed by Bloomberg News was for a 6.5 per cent decrease. Imports rose a more-than-estimated 9.2 per cent, leaving a surplus of 32.9 billion yen ($395 million). The yen’s decline of about seven per cent against the dollar since the Bank of Japan expanded monetary stimulus on February 14, this year is making exports more competitive for companies such as Sony Corp. (6758) The Cabinet Office said that the economy is picking up “slowly” after the earthquake and tsunami that devastated northeastern regions in

March last year. Today’s figures indicate that “a recovery in exports will likely be sustainable,” said Kohei Okazaki, an economist at Nomura Securities Co. (NCLZ) in Tokyo. “Japan’s economy will likely return to growth this quarter and maintain a good pace of growth in the following quarters.” Retail sales in the US rose the most in five months last month, adding to signs of improvements in global demand. The yen rose 0.3 per cent against the dollar immediately after the data and traded at 83.29 in Tokyo. The Nikkei 225 Stock Average gained 0.4 per cent Analysts’ median estimate was for a 120 billion yen trade deficit. Japan’s currency has fallen from a post-World War II high of 75.35 per dollar in October. The currency extended declines after Bank of Japan (8301) Governor Masaaki Shirakawa

and his board members expanded bond purchases by 10 trillion yen last month and set a one per cent inflation goal. The central back held off from expanding asset purchases this month as it monitored improvements. In yesterday’s report, the government said that private consumption is “firm” and capital spending is “picking up.” Japan’s import bill is being swelled by energy costs because of rising oil prices, a weaker yen and nuclear plant shutdowns that followed last year’s Fukushima reactor meltdowns. Imports of liquefied natural gas surged 53.8 per cent from a year earlier, a report has showed. “We shouldn’t think that Japan’s trade balance has turned a corner,” said Junko Nishioka, an economist at RBS Securities Japan Ltd. “There’s a possibility that Japan will go back to trade deficits.”

‘S’Korea will support oil stock release’

OUTH Korea would support a release by industrialised countries of oil from strategic reserves to help stem high prices. But it has yet to receive a request from the International Energy Agency or its members to do so, a government source has said. Britain and the United States are considering a release of oil from reserves to prevent oil prices choking economic growth.High gasoline prices in top oil importer the United States are hurting consumers and a political issue for President Barack Obama during an election year. Not all of the IEA’s 28 members support a release. France and Germany oppose such a release, officials from both countries said on Tuesday. They believe reserves

should be used to offset supply disruptions rather than to tame high oil prices. The IEA represents the energy interests of its members, which include South Korea, the world’s fifth-largest oil importer, and has previously coordinated stock releases. “If an official request is made by either the IEA or the US for an inventory release, there is no reason we would oppose it under current circumstances, as South Korea is more affected by high oil prices now than many other countries,” a source at South Korea’s economy ministry told Reuters by telephone. “We would consider such a request positively... it would help to pull down high oil prices, ” it said.

The source declined to be identified as he was unauthorised to talk to the media. Asia’s fourth-largest economy depends on energy imports to fuel its export-driven heavy industry. Consumers are facing record domestic fuel prices, as retail prices are driven higher by the global rally of international oil prices this year. Benchmark Brent crude traded above $123 a barrel on Thursday and is up more than 15 percent this year. Brent rose as high as $128 in early March, its highest since an all-time high of just over $147 in July 2008. Aside from high prices, South Korea is also facing the prospect of US sanctions if it fails to significantly cut imports from Iran, which may further drive up its import costs.

mists were looking for an increase in the index to 49.5. The manufacturing output index also slipped to a threemonth low of 48.8 from 50.3. The services activity index dropped to 48.7 from 48.8 last month. This was the lowest reading in four months. Economists had forecast a rise to 49.2. “Indeed, the surveys reinforce our belief that it is more likely than not that the Eurozone will suffer further modest contraction in the first quarter of 2012 which will put it back into recession,” said Howard Archer, chief UK and European economist at IHS Global Insight. Overall incoming new business fell for the eighth successive month and at the fastest rate since December. The rate of decline of new orders also exceeded that for output, causing backlogs of work to fall for the ninth successive month. This is likely to put further downward pressure on output levels in April, Markit said. Gross domestic product declined 0.3 per cent in the fourth quarter, marking the first contraction in economic activity since the second quarter of 2009. The European Commission expects the region to experience a mild recession, with the economy expected to contract 0.3 per cent this year. In an interview published in a German daily today, European Central Bank President Mario Draghi said that the situation in Eurozone is stabilising and that the worst of the crisis is over.

Republic of Ireland falls back into recession HE Republic of Ireland fell back into recession in the last three months of last year, official figures have shown. Its economy shrank by 0.2 per cent from October to December, following a contraction of 1.1 per cent in the third quarter. The data from the Central Statistics Office showed that the weakness in the global economy had hit Irish exports, while its domestic consumer spending had continued to recover. The country needed an international bailout in 2010. As the government struggled to cope with big debts and the high cost of its borrowing, it was awarded

85billion euro ($112billon; £71billion) of emergency loans in November 2010 from the International Monetary Fund and European Union, with the funds paid in instalments. The Irish government also secured a loan from the UK. Once known as the Celtic Tiger because of its strong economic growth, fuelled by low corporation tax rates, the Republic’s financial woes were centred on the bursting of a property bubble. This left the country’s banks with huge liabilities, and the banks subsequently had to be bailed out by the government, putting extreme pressure on the state’s finances.

GasLog sets terms for $400m IPO

ASLOG, which operates 14 carriers for natural gas shipping, has announced terms for its IPO. The Monaco-based company plans to raise $400 million by offering 23.5 million shares at a price range of $16.00 to $18.00. At the midpoint of the proposed range, GasLog would command a market value of $1.07 billion. GasLog plans to use the proceeds from the deal to help fund the construction of eight new carriers. Revenue rose 69 per cent to $66 million in 2011 and net income increased 43 per cent to $14 million. Starting in the fourth quarter, the company plans

to offer a dividend of $0.11 per share. Its Chief Executive Officer Peter Livanos will own 51 per cent of shares after the offering. The company has 10 LNG carriers, including two which were delivered in 2010 and eight carriers that are to be constructed by Samsung Heavy Industries (010140.SE). The firm said it has secured multiyear charter contracts for the two ships delivered in 2010 and six of its new ships on order that will provide total contracted revenue in excess of $1.2 billion during their initial terms, which expire between 2015 and 2021.

THE NATION MONDAY, MARCH 26, 2012

LABOUR

HE Kwara State Chapter of the Nigeria Labour Congress (NLC) has appealed to the state government to expedite action on the implementation of the N18,000 minimum wage. The NLC Chairman, Comrade Farouk Akanbi, said the implementation of the minimum wage was overdue adding that the state government ought to have implemented the wage by now, 12 months after it was approved by the Federal Government. He also urged the state government to reduce taxes paid by the workers, claiming that the workers had been impoverished by the high taxes being deducted from their meagre salaries. ”We have sent a memo to the state governor on the need for full implementation of the minimum wage as well as the downward review of the obnoxious tax on our salaries. “The Pay As You Earn (PAYE) that is placed on our meagre salary is high when compared to other states. Kwara deducts about 25 per cent as PAYE,” he said. Akanbi urged the state government to look for alternative means of funding its Mil-

police alert on Kwara workers disagree Enugu employment syndicate over tax, wage T Stories by Dupe Olaoye-Osinkolu

lennium Development Goals (MDGs) instead of placing the burden on the workers. ”It is the responsibility of the government to provide the populace with amenities and not by surcharging the workers,”Akanbi said. In a swift reaction, the state government said it has the workers understanding to implement the new minimum wage when the state’s income improves. The Chief Press Secretary, Alhaji Wahaab Oba, dared the workers to “show in specific terms” where government acted contrary to the law on tax deductions. He told The Nation: “The minimum wage regime was negotiated and agreed with the

workers. Duly signed and sealed. We collectively agreed that it will be negotiated when the state’s income improves. As at today, nothing has changed since the time of agreement.” On the issue of over-taxation, the CPS said the state’s tax regime is statutory, and there was no arbitrary increase. “Our tax regime is statutory. No arbitrary increase from the state. The workers will have to show in specific terms where the state government increases taxes without recourse to the existing law. “As a matter of fact, the state has gone out of its way to increase the monthly pension allocation of N50 million to N100 million and pay other allowances in spite of the state’s meagre resources,” he said.

WATCO reinstates sacked employees

EST African Tobacco Company has reinstated its sacked workers following intervention by the Federal Ministry of Labour and the Food Beverage and Tobacco Senior Staff Association (FOBTOB). The workers were sacked shortly after they inaugurated their branch union. Their sack led to the company being picketed by the union. In a communiqué issued after the peace meeting at the instance of the union and the Labour ministry with the company, the management of the company reversed its decision on the dismissal of the workers, and

said no worker would be victimised for the picketing action. The communiqué also stated that the branch union leader who was sacked and his position in the company phased out, be given another position in the sales department. He, is however, free to accept or reject the new position without loss of service. The management has agreed to the continuation of his service. Meanwhile, document said the union will prevail on Elaiye to refund to the management whatever amount has been paid as exit benefit should he accept the newly offered position. If he rejects however, he

would be entitled to full redundancy benefits and be free to pursue other career opportunities outside the company. The Managing Director, Mr Richard Johnson, Finance Director, Mr R. Rakesh, Human Resouces Director, Mrs Adesina Elizabeth and the company’s Legal Adviser, Adeyanju Adegbite signed the communiqué on behalf of the company while Messrs Olayanju Omoniyi and Olatunji O. S. signed for the Ministry of Labour. For Trade Union Congress and FOBTOB, Comrades John Kolawole, TUC Secretary-General and Tunde AbdulRahman, FOBTOB Secretary endorsed the communiqué.

HE Commissioner of Police in Enugu State, Mr Musa Daura, has alerted the citizenry of a syndicate duping members of the public with the pretext of employing them as traffic wardens. A statement from the state police command quoted the commissioner as saying the syndicate sell the forms for N10,000 and N20,000 for low and higher ranks of the traffic warden service. He warned the people, especially those seeking jobs, to beware of the group which also has a proviso to collect more money in hundreds of thousands after short-listing. Daura warned members of the public not to transact any business with the group as its activities were illegal, and urged them to report any member seen to the nearest police station. He called on the citizens to be law-abiding, assuring that the command had mobilised its intelligence apparatus to fish out those responsible for the act and bring them to book.

Kogi to enrol workers in NHIS scheme

OVERNOR Idris Wada of Kogi State has said arrangements have been concluded to enrol workers in the state service in the National Health Insurance Scheme (NHIS). Wada, while receiving the report of a technical committee on NHIS, described the scheme as laudable and capable of ensuring healthy living for workers. He praised members of the committee for doing a good job and for ensuring the timely submission of the report. Wada said the state government would ensure speedy implementation of the committee’s proposals in the interest of the workers. The governor, who stated that all categories of workers in the state would be enrolled, also promised to take the scheme to the grassroots. The Commissioner for Health, Dr Dorcas Onumiya, while presenting the report, said the committee had outlined steps to be taken by the government to enable workers benefit from the scheme without further delay. Onumiya said the scheme, being funded through government and individual contributions, was a good way of delivering quality health care service to workers and members of their families in a cost effective way.

NUJ releases election timetable

• The WATCO building.

Govt establishes occupational safety institute

HE Federal Government has laid the foundation of the National Occupational Safety and Health Institute and Laboratories in Umuahia, Abia State. Performing the foundation laying ceremony, Minister of Labour and Productivity, Chief Emeka Wogu said the institute will among others, strive to integrate risk assessment and management measures into work process and environment, “especially in the construction, oil and gas, agriculture, solid mineral and extractive industries, conduct regular researches, develop appropriate guidelines and issues where necessary, make recommendation with a view to institution-

alising safe and healthy work environment in the country.” He said the institute when completed will be disseminating accurate information on the deficit of safe and healthy work environment, conduct regular laboratory investigations and evaluations, industrial hygiene surveys, training of safety and health personnel and respond to request and complaints on workplace safety and health matters.” The minister said the government believes in protecting the health of its workers because poor health shortens life and reduces working capacity.

“This administration believes in the immense potentials and contribution of its human capital as an essential ingredient for national development,” he said. Part of the basic tenet of President Goodluck Ebele Jonathan’s transformational agenda on decent work component is the understanding that a vicious circle of poor health reduced working capacity, low productivity and shortened life expectancy is a typical outcome of the absence of occupational safety and health regulatory agencies and institutions appropriately empowered to address identified challenges in the work environment.”

HE timetable for the national elections of the Nigeria Union of Journalists (NUJ) has been released. Chairman of the credential/screening committee, Comrade Pius Ede in a statement signed by him and the committee secretary, Comrade Ahmed Moh’d Bedu, said it issued the timetable following the resolution at the recent NEC of the union in Abuja. The purchase and submission of nomination forms, according to the statement, is expected to hold from today to April 4, while screening of nominees will take place on April 11 and 12. That would be followed by a display of provisional list for claims and objectives from April 13 to 19. The final list will be displayed on April 23. The campaign will, however, close at midnight of May 24, while the elections will hold on the 25th and 26th. While appealing for the support and cooperation of members, and the need for candidates vying for national offices to abide by the provisions of the constitution of the union, the Committee has announced non-refundable fees for the contestable posts. Candidates vying for the office of National President will pay a non-refundable fee of N70,000, Deputy National President, N60,000, while those for Zonal Vice President, National Treasurer, National Financial Secretary and National Internal Auditor will each pay N50,000. Zonal Secretary will, however, pay N40,000. Assuring members of a level playground, the committee requests that all forms be purchased and submitted to it through the National Secretariat, Abuja.

"After weeks trailing in second place we got our noses in front and I am sure our players are ready to put the pressure on again. Our guys have been flogging away and perhaps wondering if they would ever catch up before we hit the finishing line. Well, we did and they are capable of going in front again as we battle it out with City. (It is) neck and neck Monday, March 26, 2012 now and I'd say it was an ideal time to be up with the leaders with only nine matches to go in the race for the title.”

Manchester United manager, Alex Ferguson stating that the Red Devils are in a great position heading into the close of season, over their rivals, Manchester City.

Ronaldo Muamba's scores 101 goals in La Liga

•Ronaldo

RISTIANO Ronaldo scored his 101st goal in La Liga with his brace against Real Sociedad in his 92nd appearance in the championship. With nine games left in the season, he is already just six goals shy of breaking last year's 40 goal record. A long pass from Kaka on the 32minute mark in the match against Real Sociedad was picked up and perfectly finished off on the left by Ronaldo to score his 100th league strike as a Madridista. It was his 34rd this season, in whi ch he is averaging 1.1 strikes p e r match. Ronaldo went on to defeat Bravo again later in the match. Cristiano scored 26 goals in the 2009/10 edition of La Liga and established a new championship record with 40 the following campaign, which earned him the Pichichi Trophy and the Golden Boot award. Ronaldo also outdid himself by scoring four goals in the 6-1 and 6-2 victories over Racing and Sevilla last season.

Fergie aiming to capitalise

ANCHESTER United boss Sir Alex Ferguson believes that his title chasing side are in a great position heading into the season's business end. United can regain top spot in the Premier League with just a draw against Fulham at Old Trafford on Monday, after rivals Manchester City took only a point from their clash at Stoke on Saturday. However, the Scot will be desperate to secure the win to really crank the pressure up on their City neighbours, who have been in faltering form in recent weeks. United have plenty of experience of handling situations like this, having come out on top on numerous occasions in the past, but the same cannot be said of Roberto Mancini's expensively assembled squad of superstars. Ferguson told United Review: "We are in the right place, at the right time and, most importantly, with the right players. "After weeks trailing in second place we got our noses in front and I am sure our players are ready to put the pressure on again. "Our guys have been flogging away and perhaps wondering if they would ever catch up before we hit the finishing line. "Well, we did and they are capable of going in front again as we battle it out with City. “(It is) neck and neck now and I'd say it was an ideal time to be up with the leaders with only nine matches to go in the race for the title.”

•Ferguson

2012: My best season ever, says Ibrahimovic

C Milan striker Zlatan Ibrahimovic says he is enjoying arguably the best season of his career after adding to his tally for the campaign in a 2-1 Serie A victory over Roma on Saturday. The Swede was a doubt going into the match, having contracted back pain during the 2-1 Coppa Italia semifinal defeat to Juventus last Tuesday, but he returned to his devastating best with a pair of match-winning strikes to consign Luis Enrique's side to defeat. "It's been a few days that I've had this bad back, but the adrenaline on the pitch makes up for it," Ibrahimovic said after the game. "Thank goodness it went well. I think this is the best season of my career. I think my league form has been more than perfect. I feel good physically and mentally and I've played almost all the matches. There's still a month to go and it's normal to be tired, but I feel good." Ibrahimovic then touched on Milan's much-publicized injury problems, with Thiago Silva now adding the the Milanese club's already lengthy list of crocked stars. "Without my teammates, nothing would be possible," he continued. "I'm really sorry for Thiago Silva - let’s hope the situation is better than it looks like.

message inspires Bolton's win

OLTON's manager Owen Coyle said that 'nothing is more important' than the health of Fabrice Muamba, and revealed that the midfielder - recovering from his midmatch heart attack a week ago - had even managed to send a 'goodluck' message tom his teammates before Saturday's win against Blackburn. 'The team talk wasn't long today,' said Coyle, acknowledging that Muamba's team-mates required no greater motivation than a victory for their friend and fellow player. 'Nothing is more important to us than Fabrice. If he is able to recover and have a great life with his fiancée Shauna and his son Josh, that will be fantastic. 'But, God willing, he is able to play football again at this level. 'Fabrice managed to send us a message through one of the consultants to say he wished the lads well. It was great when we heard that.' The game concluded with a huddle by the Bolton players. 'It's a private thing but I wanted to thank everybody for their efforts,' Coyle said. 'It has been an emotional week and the players were out on their feet at the end, physically and mentally. 'But that is a small thing compared to the fight Fabrice has got.' Rather than limit themselves to a minute's applause, as had been stated in the schedule to the pre-match planning, Bolton's supporters responded to the start of a montage being shown on a big screen before the players emerged from the tunnel. The noise increased as fans sat opposite the main stand combined to hold up a massive 'Muamba 6' card and the 23-yearold's name was sung immediately before kick-off, and then at the end as Bolton celebrated victory with a mass huddle. 'It is a private thing,' said Coyle, when asked what had been said. 'I wanted to thank everybody for their efforts. 'It has been an emotional week and the players were out on their feet at the end, both physically and mentally. 'But that is a small thing compared to the fight Fabrice has got.' Both Bolton's goals were disappointing from Blackburn's perspective. The first, from a Martin Petrov corner, was steered home by David Wheater after Steven Nzonzi had flicked the ball on at the near post. The second came from another corner, taken by Ryo Miyaichi, from the other side, with Wheater again the scorer. It was the first double of the former A young Bolton fan Middlesbrough man's career and his first shows his support for Premier League goal since August 2008. Fabrice Muamba during the Barclays Premier More importantly, it lifted Bolton out of League match between the relegation zone, above Queens Park Bolton Wanderers and Rangers, who lost at Sunderland. Blackburn Rovers at Reebok Stadium

OTHER SPORTS...OTHER SPORTS...OTHER SPORTS...

Alonso edges out dogged Perez FERNANDO Alonso lifted Ferrari out of the doldrums with his 28th career victory at the end of a rain-hit Malaysian Grand Prix. Following a 50-minute delay after the race had been halted at the end of nine laps due to the wet conditions, it was Alonso who went on to master the elements at the Sepang International Circuit. The Spaniard was pushed to the limit by Mexico's Sergio Perez, whose mistake on lap 50 arguably cost him a maiden race win for Sauber. Perez, a member of Ferrari's young driver academy and linked with taking up the underperforming Felipe Massa's seat, claimed second place, collecting more points in this one race than he did throughout all of last season. In a Ferrari that has so far been poor by the team's usual high standards, Alonso's win means he now leads the championship by five points from McLaren's Lewis Hamilton, who was forced to settle for third place after starting from pole for the second successive race. No rain had fallen on Sepang since Thursday, ensuring practice and qualifying remained dry, however, 20 minutes prior to the start it decided to make •Alonso an appearance.

MONDAY, MARCH 26, 2012

POLITICS THE NATION

E-mail:- politics@thenationonlineng.net

ASIWAJU TINUBU AT 60 Since the Third Republic when he rose to prominence as a senator, Asiwaju Bola Tinubu has been on the firing line. Deputy Political Editor EMMANUEL OLADESU delves into the life and activities of the prodemocracy crusader, former governor of Lagos State and National Leader of the Action Congress of Nigeria (ACN) as he clocks 60 this week.

Tinubu stands before ‘theAsmirror of history, what

tician and citizen of the world. For him, politics is a vocation and the scramble for power is only meaningful, if power, which he believes is never served ala carte, is employed to usher in a new lease of life for the generality of the people. If his sojourn in the corridor of power laid the premise for his political fame, his antecedent as a private sector operator actually prepared him for the future endeavour. His professional colleagues and co-employees at Mobil Nigeria would recall the picture of a workaholic treasurer, who never compromised organisational goals of efficiency, productivity, office ethics and other fine arts of excellence at work. He was persuaded to leave his lucrative career around 1989 to participate in politics as a “new breed politician”. He could not have been indifferent to participation, having been brought up by the prominent women leader and Awolowo devotee, Alhaja Abibat Mogaji, who played prominent roles in the AG and UPN Women Caucus, which revolved around the wife of the late sage, Yeyeoba HID Awolowo. Tinubu took the politics of Lagos West Senatorial District by storm. The leaders and people of the district who endorsed his ambition for the Senate in 1990 would testify to his political prowess, mobilisation acumen, organisational ability, power of foresight and masterful logic. During the screening of candidates, Tinubu scored the highest mark. He answered highly technical questions with immensurable wit. Old politicians on the panel, who had written off the new breed, changed their mind. They contented that the Lagos West senatorial candidate of SDP would definitely shake Lagos in the future. On the day he was screened, Tinubu became a leader to watch. His compatriots in the turbulent Senate of Dr Iyorcha Ayu and Ameh Ebute would describe him as a high flyer, tactician, and thorn in the flesh of Babangida Administration. As the military regime wobbled on in deceit and decay, the likes of Tinubu challenged the junta to a duel. He was among the brave ones who dared the military gun by insisting on a terminal date, which the military set for itself. When colleagues were bought over with money, Tinubu was on the firing line; consistent and adamant. Ironically, the fall of the regime led to a chain of events, which consequently aborted his career in the Senate. The pro-democracy elements who coordinated the titanic battle against the military, following the annulment of the historic June

IS battles, struggles and triumphs aptly underscore the indisputable fact that, at any critical time in the life of a community, state, nation, and nation-state, circumstances have always thrown up outstanding leaders endowed with mega capabilities to spearhead popular legitimate agitations and canvass the unexplored alternative route to solutions to the fundamental questions of our time. In that mould of soldiers of democracy is Bola Ahmed Tinubu, Third Republic senator, former governor of Lagos State and national leader of the Action Congress of Nigeria (ACN). The hallmark of his life is courage. Indeed, a great attribute of the ‘Asiwaju of Lagos’ is the resolve, resilience and determination with which he has always fought popular battles on behalf of the masses. At 60, the ‘Jagaban Borgu’ is on the weighing scale. Tinubu is perceived by many as an oak tree offering shades to a vast progressive followership. It is incontrovertible that he is the most colourful Yoruba politician in the post-Bola Ige era. Many believe that he is not only an asset to the Southwest, his geo-political zone of birth, but also a national property now raising the core issues germane to the progress, prosperity, peaceful co-existence and survival of the nation-state, which from 1914 had wobbled into this difficult present as an amalgam of incompatible social formations. There was never a time the Yoruba, the most sophisticated and politically conscious race in Nigeria, lacked heroes. The first leader of the race in this modern time was the indomitable Chief Obafemi Awolowo, successful lawyer, philosopher, seasoned administrator and humanist. As the first Premier of the now defunct Western Region, his achievements have remained indelible; his legacies unsurpassed. Twenty four years after his demise, the former Leader of Opposition has continued to fill public consciousness as ‘the best President Nigeria never had’. Up to now, the model administration he set up in the defunct Western Region, which has now been broken down into eight states (Lagos, Oyo, Ondo, Ogun, Osun, Ekiti, Edo and Delta), has remained a reference point. The mantle of Yoruba leadership naturally fell on his compatriot, Michael Adekunle Ajasin, co-author of the celebrated free education policy, member of House of Representatives for 12 years, former governor of the old Ondo State, Afenifere/National Democratic Coalition (NADECO) leader; a gerontocratic monitor and symbol of moral authority during the dark period of military regime when democracy and rule of law were on holiday.

is discernable from the mirror? He is, first and foremost, a professional; an accountant and financial surgeon, who had paid his dues in the competitive private sector; a shrewd businessman and core investor, manager of men and resources; a benevolent capitalist. But he is also a consummate activist, prolific analyst, strategic thinker, humanist, philanthropist, astute administrator, visionary leader, man of foresight, courageous fighter, a peoples’ politician and citizen of the world

‘

•Tinubu

Tinubu: His battles, travails and triumphs Ajasin left behind an unfinished business, which was inherited by his worthy successor, Senator Abraham Adesanya, lawyer and businessman, member of the First Republic Western Regional House of Assembly, frontline NADECO arrowhead at the home front and esteemed Afenifere leader. He was a relentless fighter; very outstanding in honesty of purpose, pursuit of the common good, disdain for avarice and materialism, and politics of theft and graft or ‘steal and go’ now prevalent in the country. Ajibola Idowu Ige, a great mobiliser and organiser, former governor of the old Oyo State and slain Attorney-General and Minister of Justice, who should have been his natural successor when he passed on, had been murdered earlier. But nature does not harbour vacuum. The agenda of the four leaders was the enthronement of progressive government, not only in the Southwest, but also throughout the country. The progressive administration led by Awo in the pre-independence era, wrought the miracle of “Life More Abundant”, with the people of the eight states savouring free education and health services, employment opportunities, housing, and itegrated rural development. These feats of Action Group (AG) government were repeated in the Second Republic by the Unity Party of Nigeria (UPN) administrations led by Awo’s lieutenants- Ajasin, (Ondo), Ige (Oyo), Bisi Onabanjo (Ogun), Ambrose Ali (Bendel) and Lateef Jakande (Lagos). In the Third Republic, Social Democratic Party (SDP), which tended to share the same ideological viewpoint, formed governments in Oyo, Ondo and Ogun states. Between 1999 and 2003, the Alliance for Democracy (AD), which was floated by AG/ UPN/SDP leaders, formed the government in the six states-Oyo, Ondo, Ogun, Osun, Ekiti and Lagos states. When the poll-confident Southwest was submerged by the Peoples Democratic party

(PDP) rigging machine in 2003, only Lagos State, where Tinubu was governor, survived the onslaught. Since then, the restoration of the Southwest’s lost glory became the preoccupation of Tinubu, who worked tirelessly for the return of the stolen mandate in the five states. PDP hawks, having penetrated the AD, crippled the platform. The old party in ruins, Tinubu, a man of foresight, working in concert with like minds, spearheaded the establishment of another masses-oriented party, The Action Congress (AC), which later metamorphosed into the Action Congress of Nigeria (ACN). Last year, the party reclaimed Ekiti and Osun states from the PDP interlopers. But, the epic battle was waged in the last general election. A bridge consequently connected the past to the present. Not only did ACN consolidate its hold on Lagos, Osun and Ekiti, it also reclaimed Ogun and Oyo states, thereby fulfilling the dream and vision of the illustrious pathfinders-Awo, Ajasin, Adesanya and Ige-that only a rational government bubbling with progressive tendencies should steer the affairs of the Southwest. The monumental achievement is a worthy tribute to Tinubu and other credible, strongwilled, and principled progressive leaders in the region who stood firm during the dark period between 2003 and 2011. As Tinubu stands before the mirror of history, what is discernable from the mirror? He is, first and foremost, a professional; an accountant and financial surgeon, who had paid his dues in the competitive private sector; a shrewd businessman and core investor, manager of men and resources; a benevolent capitalist. But he is also a consummate activist, prolific analyst, strategic thinker, humanist, philanthropist, astute administrator, visionary leader, man of foresight, courageous fighter, a peoples’ poli-

•Continued on page 44

THE NATION MONDAY, MARCH 26, 2012

POLITICS

Tinubu: A moment of stock taking •Continued from page 43

12, 1993 presidential election won by the late Chief Moshood Abiola, would attest to his inspiring, brave and bold leadership as a dogged and principled fighter for justice. Members of the National Democratic Coalition (NADECO), of which he was an arrowhead abroad, would speak glowingly about his dedication, courage of conviction, fighting spirit and financial backing for a noble cause. As governor of the ‘Centre of Excellence’, for eight years, Tinubu showed that he was an experienced and excellent administrator, who, through his achievements, laid the foundation for a prosperous Lagos. He is today perceived by the governors of the Southwest as a role model and pride of the region. Others would salute his large heart as a cheerful giver, benefactor and godfather to the oppressed, like his friend and associate, the late MKO Abiola. But more than that, Tinubu is a national property and detribalised apostle of national unity. If Ige was wrongly labelled a Yoruba irredentist by half-hearted colleagues locked in a battle of hate, Tinubu, despite his belief in the dictum: ‘charity begins at home’; has escaped that vituperation. He has come across as a bridge builder and promise and prospect of one Nigeria premised on equity, fairness and justice. Many also agree that he has an edge over his detractors. The Asiwaju of Lagos’s bedrock of strength is his power of ideas; his conviction about progressive ideals and his love for the masses, who are the focus of his service to humanity, either as a private man or public figure. Herein lies the greatest challenge confronting him as a progressive leader. Can Tinubu and his cotravellers overcome the hurdles on the way to federal power? Progressives have not tasted power at the centre. Therefore, the question is, if power shifts to them, can they make the difference? Answers to this may be found in the performance, so far, of governors typically described as “Asiwaju’s men” in Ekiti, Osun, Oyo, Ogun, and Lagos State. The question also is: can they sustain the tempo? Tinubu did not have the public-sector experience at their disposal when he shook the polity in the Third Republic. But he challenged to a duel the Military President, Gen. Ibrahim Babangida, who had dribbled Nigeria to an edge when he tinkered at will with the longest and boring transition programme that was programmed to fail. Like few others in the National Assembly, he was a firebrand senator and vocal advocate of an end to military rule. The chairman of the SDP Screening Panel that screened him as a senatorial aspirant, Alhaji Lanre Rasak, said that he was not surprised because he had dazed the panel by his wit. At the election, Tinubu scored the highest number of votes in the West District, the largest in the country, beating his rival, Mrs. Kemi Nelson of the National Republican Convention (NRC). He scored votes which many governors could not garner in their states at that time. In the Senate, he was not a bench warmer. As the Chairman of the Appropriation Committee, he was irked by the kangaroo budget presented by the Chairman of the Transitional Council, Chief Ernest Shonekan, saying that it was not premised on need analysis. Sensing that the document could herald economic jeopardy, the committee sent it back to the executive for proper work. On the floor of the Senate, Tinubu asked the soldiers of fortune to pack their load, warning that further delay could lead to a popular uprising. When the 1993 presidential election won by Abiola was criminally annulled, he opposed the military rascality. He was among the SDP senators who stood behind Abiola till the end. He rejected the military carrot, which he knew would be accompanied with a cane. Tinubu was marked for liquidation. He had started suffering some bruises before he managed to escape abroad. From the United States, he fired salvos at the

the late Abacha, financed Radio Kudirat and inspired other freedom fighters to sustain the tempo of anti-military struggle at home. It is debatable that the pro-democracy agitations sacked the military rule. Many have argued that there was a hand of God in it all, for while pro-democracy forces wage war, Abacha still loomed large on the country, until his sudden demise in 1998. After his death, the coast was becoming clear. The pro-democracy family was eager to inherit power, which nevertheless eluded them. Instead of further engaging the military and pressing for a peoples’ constitution, they jumped into the political fray without much reflection. They were truncated by the military collaborators at the centre. When Tinubu returned home, he had wanted to return to the senate, but the NADECO/Afenifere leaders of Ogun State origin insisted that he should serve as governor. To them, it was suicidal to allow a military stooge to rule Lagos, despite the fact that he had the full support of their colleague, the late Alhaji Ganiyu Dawodu. In 1999, he defeated Dapo Sarumi, the PDP candidate. it was ironic, because in 1991, he had backed Sarumi, the leader of ‘Primose’ for the job against the late Prof. femi Agbalajobi, who had the backing of former Governor Lateef Jakande. Both camps paid for the cracks on the wall, which allowed the NRC candidate, Chief Michael Otedola, to get to power. In 2003, Tinubu was re-elected, based on his performance and in spite of the hostility of Afenifere leaders, on whose back he had ridden to power four years earlier, as it were. His colleagues in Oyo, Osun, Ondo, Ekiti and Ogun states were not lucky. Their governorship careers were consumed by the political earthquake that swept across the region. Up came the reactionary elements who were clearly estranged from the legitimate aspirations of the Southwest. The ‘Tinubu Years’ have remained a reference point in Lagos. The third civilian governor embraced the duties of governance with passion. Like Awo, his model, he set up an executive council of talents. He did not condone indolence and he made accountability his watch-word. Free education, free health services, gainful employment, rural development, housing and infrastructural development were pursued with vigour. The administration built more classrooms, rehabilitated the existing ones, expanded health facilities tar red roads and promoted security. He also introduced the BRT to ease intra-city transportation in the metropolis. Under the administration, Lagos became an attractive place for investment because of the conducive atmosphere. Tinubu had initiated the Independent Power Project (IPP), which would have creatively resolved the epileptic power supply in the state. But the effort was thwarted by the federal government. Tinubu had charged lagosians to take their destiny in their hands. In response to their yearnings for grassroots development, 37 local council development areas were created, following the conduct of a referendum. But, Former President Olusegun Obasanjo wielded the big hammer, seizing the allocations to the councils. For more than three years, the councils were nearly grounded to a halt, but the internally generated revenue, which was on the increase, became the saving grace. Through Tinubu’s financial engineering, the local governments survived. From that stage, Tinubu embraced a new pastime; the battle for true federalism. He intensified his advocacy for fiscal federalism, devolution of powers, state police and general restructuring of the polity. To him, a sovereign national conference is inevitable, although it is being delayed. In 2007, Tinubu handed over the reins to a competent lieutenant, Mr Babatunde Fashola (SAN), who has continued to build on the foundation he laid. He had wanted to return to the Senate,

•Tinubu

but Tinubu decided otherwise. Outside power, he became the fierce leader of opposition. He also turned his attention to the battle for free and fair elections. No politician of note in the country has fought the battle for electoral reforms more than Tinubu, who has stood behind the Coalition of Democrats for Electoral Reforms (CODER) like the rock. Although the battle has not been fully won, Nigeria has not remained the same. Under his leadership, ACN has also enlarged its coast to other six geo-political zones, thereby becoming a national party and credible alternative. After regaining its prized stronghold in the Southwest, it has remained on the firing line, winning elective seats in the Northcentral, Southeast and Southsouth zones. Apparently to silence him, Tinubu was arraigned for trial at the Code of Conduct Tribunal for keeping foreign accounts. To the chagrin of his foes, the tribunal toed the path of the rule of law, declining jurisdiction. On the way to the tribunal at Abuja, the popularity of Tinubu dwarfed them. His supporters were denied entry into the Federal Capital Territory (FCT). A man of history, his rise to fame is an act of God. Tinubu was not born into greatness; neither has greatness been thrust on him on a platter of gold. He achieved greatness through hard work, resolve, and determination. So far, he has demonstrated a huge capacity for the management of the achievement. Born on March 29, 1952, Tinubu endured, like many others, a difficult childhood and today, he has a tale of survival to tell. His academic sojourn in the United States started in 1975 at Richard Daley College, Chicago, Illinois, where he justified himself before proceeding to Chicago State University, graduating in 1979 with a first class honours in Business Administration, specialising in Accounting and Management. In his last year, he taught the remedial tutorial classes on part-time basis. Throughout his studies, he was on the Dean’s List. A campus politician, Tinubu was also the President of the Accounting Society in his final year. In the course of professional practice, he has traversed blue chip companies Arthur Anderson, Deloitte Haskins, GTE Service Corporation, and Mobil Nigeria, where he was treasurer. He was a contributor to worthy social and community causes as an acclaimed philanthropist before becoming a politician of repute.

Afuye: PDP can’t capture power in Ekiti Ekiti State Commissioner for Information and Civic Orientation Funminiyi Afuye spoke with Deputy Political Editor EMMANUEL OLADESU on the activities of the Fayemi Administration, local government elections and other issues.

•Afuye

HAT is the evidence that the eightpoint agenda of Fayemi Adminis tration is on course in Ekiti? There is no low moment in the execution of the eight-point agenda. That is the platform and point of reference for the government of Dr. Kayode Fayemi. The government is implementing it faithfully. Let us look at social security. Indeed, the enabling law has been signed. Ekiti State is the first in Nigeria and Africa to embark on the social security policy for the elderly. N5,000 is being given to the poorest of the poor. That is to tell you that it is not a fluke. The policy is working and a lot of our people

are getting relief. How is the administration tackling unemployment? There are a lot of unemployed youths in Ekiti. They are being recruited in phases. The government is not preparing them for white collar jobs. We are encouraging themselves to become self-employed. This has multiplier effects. In education, Dr. Kayode Fayemi is giving them the books, that is, knowledge. The slogan now is “give the books, keep the oil”. Knowledge countries are growing in leaps and bounds; Taiwan, Israel, Hong Kong, Japan, the bastion of technological development in the world. How can the implementation of developmental projects be fast-tracked in Ekiti State? Genuine development is not a quick fix. while we realise that people want to see immediate action and result, real and genuine development is not a quick fix. However, I don’t believe that development is slow in Ekiti. Contracts have been awarded. The governor is not sitting down doing nothing and expecting results. He goes to the project sites to monitor their implementation. The projects are going on. The un-initiated may not see it. The urban renewal project takes a long time, particularly in a state that had been abandoned by successive state and federal governments. It takes time for the foundation to be laid in such a circumstance. PDP leaders in the state are accusing Fayemi

Administration of lack of performance... Olubolade was talking from a point of ignorance. Some of the roads he is talking about are federal roads and he is a federal functionary. Ado/Ikere/Akure Road is a federal road. Let him go to his domain, Ipoti. Construction works are going on in that locality; Ijero/Ipoti/ Ayetoro Road, Ipoti/Odo-Owa, Road, which leads to Osun State, Otun/Otan Road, Osun/ Ayetoro Road. There are 14 roads projects that are on. The governor has turned Ekiti into a huge construction site. You don’t see the beauty immediately, until the projects are completed. The people of Ekiti are noticing the growth in the system under Dr. Kayode Fayemi. How is the state preparing for the challenge of erecting democratic structures at the local government level? The governor has a pedigree. He is a democrat. He wanted to conduct an election. PDP went to court. The judgment was in their favour. The governor abided by it. As a democratic government, we went ahead to appeal, using the institutional framework. Be that as it may, the structure of local government is in place and it is being manned by people of impeccable character. They are not just left alone. Government is monitoring their activities. They are the people close to the grassroots. Each local government has been given the order to tar five kilometres of road in its area. They are being monitored by the deputy governor who

supervises the local government. She is ensuring that no project is abandoned in the local government. However, the matter is before the Court of Appeal and we will not make comment, pending the judgment of the court. PDP has vowed to dislodge the ACN government in the next election. How are you reacting to that threat? I am not playing God, but it is laughable in the sense that PDP is a gathering of infidels. PDP has no good intention for the people of Ekiti State at the state and federal levels. Look at the disaster the father of the PDP brought into the nation in general. Look at Boko Haram, insecurity, under-development, epileptic power supply. PDP has brought shame to the nation. Now, coming to Ekiti, they gathered themselves in the house of Olubolade. Oni, Fayose, Olubolade, Okondo gathered together. Each of them has interest to contest the governorship election. A week after, in his usual character, Fayose’s thugs beat Olatunbosun, former deputy speaker of House of Assembly. That is the beginning of the confusion. Olatunbosun had to appeal to Governor Fayemi to save him and the people of Ekiti. The question is: Where is PDP coming from? Comrade, where are your masses? They rigged election before. Now, they want to come back. Not again. We say no to their shenanigans. The era of rigging and brigandage is over. They have met their waterloo. In the next poll, they would be more netralised.

THE NATION MONDAY, MARCH 26, 2012

Imo women protest imposition of candidate

OMEN contestants for the post of National Women Leader in the Imo State chapter of the Peoples Democratic Party (PDP) have accused the party leadership in the state of trying to impose a candidate on them. The Spokesperson of the women, Mrs. Ngozi Orubele from disclosed this at a media briefing in Abuja, expressing shock that the PDP will reserve a contestable position like that for an individual, thereby shutting off other eligible contestants from the same state. She said: “We appeal for an open and democratic process in this election, devoid of imposition and other undemocratic practices. We need a free and fair contest. “The publications from Imo State party secretariat indicate that some state PDP leaders of the party claim that the position of the National Women Leader zoned to Imo State has been given to one of the contestants attracted our attention and concern. “It is pertinent to remind ourselves that the constitution of the party does not confer the power of adoption of an aspirant but rather the caucus function is only advisory. “This is an ominous sign of antidemocratic forces coming into play. If this can happen, it is then sadistic for these party officials, leaders and state caucus whom we have so much confidence in to encourage aspirants to party offices to spend huge sums of their hard earned money in campaigning throughout the country. “Another issue that has caught our attention is the issue of rejection of the entire nomination forms of aspirants who obtained their

From Franca Ochigbo, Abuja

forms through the Imo State office of the PDP and submitted through it in good time.” She added that this is nothing but a wicked arm-twisting device by a clique in the party to shut out other aspirants against their already chosen candidate for national women leader position. Mrs. Orubele noted that this is the first time Imo PDP women contestants have come together in this nature to speak with one voice. She said: “We have all agreed that whoever emerges in an open and democratic process, others will embrace and support her. This is the spirit of Women for Change and Development Initiative. It is a new spirit and a new orientation among our women.”

We have all agreed that whoever emerges in an open and democratic process, others will embrace and support her. This is the spirit of Women for Change and Development Initiative

•Welsely Circuit Women Fellowship during their 2012 Mothers’ Day

Imoke’s wife urges women on discipline

HE Wife of Cross River State Governor, Mrs. Obioma Liyel Imoke has urged women to inculcate discipline and good morals in their children as a means of checking the rising spate of vices in the society. Speaking during the Wesley Circuit Women’s fellowship 2012 Mothering Sunday launching of N10m Nursery/Primary School Project at the Methodist Church Nigeria, Wesley Cathedral, Beecroft Street, Calabar, she reminded them of the need to

From Nicholas Kalu, Calabar

work hard all the time and show good examples as women are great intercessors, pillars and bridge builders. Mrs. Liyel-Imoke, who was represented by her Chief Information Officer, Mrs. Nancy Ernest Irek, said, “women as agents of change must rise up to the challenges of child upbringing as no child with proper training will choose the path of dishonour”.

Chairman of the occasion, Mrs. Ebase James Epoke, represented by Dr. Mrs. Ekanem Cobham, said the duty of women is to change situations through prayers . During the sermon, Sister Ihuoma Okoro, urged women to be born again, as God has positioned them in his plan of salvation. She urged them to be prayerful like Esther and Hannah in the bible by praying for their children to succeed in life, instead of cursing them all the time.

Expert hails Lagos on healthcare

•Oladapo

FIRST-TIME visitor to the Lagos State Health Service Commission which temporarily houses the School of Anaesthetics Studies may be deceived by the seeming lack of activities. A modest facility tucked behind the maternity ward of the Badagry General Hospital, the school has made some giant strides in terms of the number of medical practitioners that have benefitted from the trainings in anaesthetics since its inception in 2009. The Lagos State Health Service Commission School of Anaesthetics began

training of medical personnel under the supervision of a Chief Consultant anaesthetist whose primary focus seemed to be churning out as many quality anesthetists as possible. Surgeon (rtd Commodore) Olaniyi Olatunji Oladapo is the coordinator of the LSHSC School of Anaesthetics. A thorough-bred medical luminary, Dr Oladapo had undergone extensive training in anaesthesia in the course of his career in the Nigerian Navy Medical Corps. “Upon completion of my medical course at the University of Lagos, I enlisted in the Nigerian Navy in 1978 as a general duty medical officer. In 1979, I was sponsored for a post-graduate medical course in anesthesia at the University College Hospital, Ibadan for four-and-a-half years. “Part of this course was undertaken in the United Kingdom at the Sheffield Naval Hospital, the Royal Navy Hospital, Gautspot. Upon completion of this course, I started the Anaesthesia Department of the Nigerian Navy Reference Hospital 1983. “I rose to the position of a consultant, senior consultant and chief consultant before assuming administrative appointments as command medical officer. I was also deputy medical director. “All of these were until I retired from the Nigerian Navy in 2006. I must, however, quickly say that, of the three or so

I am proud to say that today, from just 12 anaesthetists in 2008, the Lagos State Health Service system has over 85 anaesthetists in the various specialist, general hospitals and health centres

offers that I got after retirement, I decided to take up consultancy services with the Lagos State Government where I felt my passion for training may best be optimised. Continuing, he said: “I have since realised that I took the right decision as evidenced by the degree of support and cooperation that have thus far been extended to this initiative. I felt the Lagos State hospital service system had a grossly inadequate supply of anaesthesists who were just about 12 for all the 24 general hospitals in the state then. “This, no doubt, contributes to the high mortality rate in maternal and even surgical procedures in our hospitals. Assessing the LSHSC School of Anaesthetics, Oladapo said that the Lagos State Government, through its Ministry of Health, has scored another first as it is on record that this facility is the first in the West Africa sub-region to train middle level anaesthetic manpower (doctors and nurses). Very shortly, he said, we shall commence the training of technicians. You will then realise that anaesthesia is a very quiet aspect of medical practice as we are usually in the theatre to provide specialised service during surgery. Here, we are talking about reversible, predictable, and conductable processes of anaesthesia with or without loss of consciousness by the patient. Talking about the evolution of anaesthesia in Nigeria, the practice dates back to the late 60s and the early 70s. The Lagos State University Teaching Hospital is the pioneer of the anaesthesia department, followed closely by the University College Hospital and then the Ahmadu Bello University Teaching Hospital. He noted that there were pioneer experts in anaesthesia in the likes of professors Ojo, Oduntan, and Magbagbeola, among others.

Though this initiative of the Lagos State Government is quite laudable, the population of qualified anaesthetist doctors in Nigeria is about 500. This explains my passion for the training of middle level medical manpower; that is doctors and nurses who can, in the course of time, become trainers also. “Let me also say that anaesthesia is the denominator to all surgeries; whether obstetrics, orthopaedic, Ear, Nose and Throat (ENT), or whatever operative surgery. As a matter of fact, anaesthesia is pivotal in the operative processes of any general or specialist hospital. “As for the LSHSC School of Anaesthetics, we started effectively in 2008. I have about 10 doctors/lecturers working with me. Most of them are volunteers as we are yet grappling with logistic challenges. Thus, we are, for now, only able to pay some kind of moratorium. “Between 2008 and now, we have trained over 100 middle level medical manpower. More than 85 of them have graduated, about 20 have a re-sit or two exams before they graduate. Of the over 80 graduates, 56 are doctors. As we speak, there are 14 doctors in training. We feel very proud to inform the public that LSHSC School of

Anaesthesia is accredited by the West African College of Surgeons to train Anaesthetists up to Fellowship level using the Lagos State general and teaching hospitals. “As a Fellow of the West African College of Surgeons myself, I must on behalf of the team running this school, express appreciation to the Lagos State Commissioner for Health and the Permanent Secretary of the Health Service Commission for recognising the dire need and support for a training facility such as this. “I am proud to say that today, from just 12 anaesthetists in 2008, the Lagos State Health Service system has over 85 anaesthetists in the various specialist, general hospitals and health centres. Though it could be said that we are still far from the ideal, which should be at least two anaesthetic doctors and a nurse covering the three shifts of morning, afternoon, and night per hospital, we have achieved tremendous success. “Be all these as they may, we are proud that as of today, the hitherto very high mortality and morbidity rates prevalent in all our general hospitals in the state is down to less than two per cent. Now, patients are brought into our hospitals and are walking out alive.

THE NATION MONDAY, MARCH 26, 2012

Council prioritises infrastructure

HE chairman of Alimosho Local Government Area Israel Olusola Adekunle has said his administration will build more infrastructures in the council this year. He was speaking at a budget presentation to the Legislative Arm of the council in Akowonjo, Lagos. The budget was presented after a crucial meeting with stakeholders in the Local Economic and Empowerment Development Strategy (LEEDS) pact at a budget retreat. At that retreat, the council officials and the stakeholders determined the needs of the people. “This year’s budget has been tagged “Budget of Consolidation with essential focus on massive construction and infrastructure,” he told the lawmakers. But the administration will also pay close attention to other programmes such as free health services, poverty alleviation programmes, among others, in order to spread its developmental agenda. Adekunle sought an early passage of the proposed N1.4b budget, saying it will go a long way in enhancing the wellbeing of the people. He spoke about the imperatives of raising the council’s internally generated revenue (IGR) and the modern techniques put in place to boost the drive in the year. The council chief also reviewed his administration’s performance in the past year, saying the council achieved its set objectives. That year, over

KWA Ibom youths under the aegis of Supreme Council of Ibibio Youths have accused construction giant Julius Berger of marginalising their members in the firm. The group said indigenous Akwa Ibom workers in the company are discriminated against in favour of

By Chukwuemeka Adeyemo

N402m of its N1.3b budget was voted for recurrent expenditure, while over N268m was spent on capital projects. “The budget was able to achieve the set objectives and projects executed within the year will attest to our achievements,” he said. He named those projects to include the construction of a befitting twinoffice complex with a functional multipurpose hall, drainages, purchase and distribution of three transformers, construction of roads, rehabilitation of Sha-Sha Primary School, supply of furniture to council offices, desilting of drainage, among others. Over N503m of this year’s budget will go to capital expenditure, while recurrent obligations will gulp N335,600,000. N150m will be spent on teachers’ salary, as staff and political office holders’ salary will take N 417m. “It is the wish of this administration to sustain rapid development, growth and prosperity in this local government,” Adekunle told the legislators. “I therefore solicit your cooperation as representatives of the people of Alimosho Local Government towards the realisation of our objectives.” He rallied officers of the council to ensure that the people’s interest is served. He also urged the people to pay their taxes and rates, as that will provide the administration with the required funds to execute projects.

•Hon Adekunle (left) presenting the budget to the Leader of the Legislative Council, Hon Jelili Sulaiman

Akwa Ibom youths demand fair treatment From Mike Akpan, Uyo

non-natives. The youth organisation made this known in Uyo, the state capi-

tal, where its officers led by Atta Uko, Sammy Brown spoke of an apparent principle of discrimination and marginalisation of indigenous Akwa Ibom people since the

Japan’s N1.24b for Nigerian children’s health •Continued from Page 17 tribution will go a long way in ensuring that there will be enough funding for Oral Polio Vaccine (OPV) for planned polio supplemental immunisation activities (SIAs) in 2012, among other inputs. The level of child mortality can be reduced with simple interventions such as immunisation and other child survival interventions delivered in an integrated manner. This year’s contribution from the Government of Japan will be used to provide Oral Polio Vaccine (OPV) for use during Immunisation-Plus Days (IPDs). It will also be used to procure cold chain equipment to fill existing cold chain gaps in the context of new vaccines introduction. In

addition, the grant will support the procurement of essential drugs (Albendazole tablets for de-worming), that will be distributed during MNCHWs as well as contribute to operational cost of the MNCHWs. “This grant is timely and will make significant contribution to Nigeria’s final push to stop the transmission of the wild poliovirus and the effort towards strengthening routine immunization including expanding the cold chain system for introduction of new vaccines as well as for institutionalizing Maternal, Newborn and Child Health Weeks (MNCHWs) in Nigeria” said UNICEF Representative Dr. Suomi Sakai. Since 2000, the Government of Japan has been a major donor supporting child survival interventions in

general and infectious diseases prevention in children in Nigeria in particular, through the UNICEF/Federal Government of Nigeria Programme of Cooperation. “Regarding the eradication of polio, we have come a long way. A great reduction in the number of polio victims has been observed in Nigeria since 2003. Japan is proud of being a partner together with Nigerian Government and UNICEF on the road towards polio eradication.” said, H.E. Mr. Ryuichi Shoji, Ambassador Extraordinary and Plenipotentiary of Japan to Nigeria. “We are resolved to tackle the yet unfinished work, so that the efforts shall not be in vain. We shall join hands to save children from pain.”

•From right: Chairman, Amuwo Odofin Local Government Area, Ayodele Adewale; Alado of Ado Kingdom, HRM Oba Olayinka Ado and Prince Afolabi during the climate change forum by local government chairman at the secretariat PHOTO: NIYI ADENIRAN

company started operations in the state. They said the discrimination persisted in spite of attempts by the Supreme Council of Ibibio Youths to draw the attention of the company to the issue. The youths said the management of the construction firm, for instance, chose a non-native, Leonard Eghabor, for the position of staff union president, leaving out one Emman Obot, who hails from the state. They maintained, however, that they will explore all avenues to achieve peaceful resolution of the matter.

The youths advised that indigenous workers should also hold sensitive positions in the firm, and not just the office of public relations officer, which they consider as demeaning. Julius Berger strongly denied the charge, saying it has always provided a level-playing field for everyone and does not have a policy or principle of discrimantion. The firm said it has never supported one contestant agaist another. It also urged the Supreme Council of Ibibio Youths to verify their claims before making them public.

Fayemi cheers up the motherless

•Continued from Page 17

are many governors tomorrow. I know it’s very easy for someone in my position to celebrate with adults. But it’s an opportunity for me to come round and celebrate with you and enable you know that the governor is an ordinary who also went through life as you are doing now. “I have asked the proprietors what your needs here are and they told me there is need for cooking utensils, fans, electricity generators, cooking pots and so on. “That’s why in collaboration with EDF, I’m very delighted to offer you all these so that the quality of your education can be significantly improved. “I’m sure you know it is compulsory education in all public primary and secondary schools. The government of Ekiti has a responsibility that every child goes to school and stays

in school up to the final class in senior secondary school. “We have also a duty to support private initiative and that’s why we have come here to add value to the efforts being made here so that you can have an opportunity to improve yourself. “I have also asked how much is the school’s running cost every month and I was told it is N300,000. I promise to support the school every month to offset half that amount.” At Erelu Angela Adebayo Children’s Home, Iyin Ekiti and Ben Folarin School, Irona, Ado-Ekiti, the picture looked much the same as the governor and his wife sustained the glow of philanthropy. At the homes, the children sang, prayed and wished the governor a happy birthday.

THE NATION MONDAY, MARCH 26, 2012

NEWS Senator begs kidnappers to release wife From Bisi Olaniyi, Port Harcourt

ENATOR George Thompson Sekibo (Rivers East) of the Peoples Democratic Party (PDP) has pleaded with kidnappers to release his wife, Asime. Mrs. Sekibo was snatched on Thursday in Port Harcourt, the Rivers State capital. A source said the kidnappers are demanding N100 million. The source said Sekibo told the kidnappers that there was no way he could raise the ransom, urging them to be compassionate and release his wife. Police spokesman Ben Ugwuegbulam said the command and other security agencies are on the trail of the hoodlums. Ugwuegbulam, however, stated that he was not aware of any ransom demand. The Public Relations Officer of the Sector 2 of the Joint Task Force (JTF), Lt. Col. Aminu Iliyasu, confirmed the involvement of the security outfit in the senator’s wife’s rescue operation. Iliyasu assured that the victim would soon be rescued alive and well. Mrs. Sekibo, a student of the University of Port Harcourt (UNIPORT) and two others were kidnapped under the Obiri Ikwerre Bridge.

Delta Deputy Governor denies allegation From Okungbowa Aiwerie, Asaba

ELTA State Deputy Governor Amos Utuama (SAN) at the weekend denied frustrating reconciliation moves within the Peoples Democratic Party (PDP) in Delta Central Senatorial District. Former Minister of State for Education Kenneth Gbagi had accused Utuama of making it impossible for the two groups (Governor Emmanuel Uduaghan’s and Chief Edwin Clark’s) to harmonise. Utuama, in a statement by his Press Secretary, Tunkeaye Bisina, described Gbagi’s accusation as an allegation made out of self interest. He urged the ex-minister to stop feeding Clark, the PDP family and the public with incorrect statements. “The peace and harmonisation process is working well in Delta PDP where the congresses were peaceful. “Those who want to heat up the polity should desist as we will no longer condone indiscipline of any sort no matter how highly placed you may be.” According to the deputy governor, the governor called a stakeholders’ meeting, which was attended by Gbagi where he directed all PDP faithful to work together.

•Ogun State Governor Ibikule Amosun (middle); his Kaduna State counterpart, Patrick Yakowa (third left); Secretary to the Ogun State Government Taiwo Adeoluwa (second right); Kaduna State Commissioner for Commerce and Industry, Gambo Lawal (second left); Ogun State Commissioner for Information and Strategy Yusuph Olaniyonu (right); Kaduna State Commissioner for Economic Planning Titus Gondu (third right) and Amosun’s Chief of Staff Emmanuel Ogunnaike when Yakowa visited Amosun at the Government House, Abeokuta

Two killed in Bayelsa WO persons have been killed in the Southern Ijaw Area of Bayelsa State. Their killing was allegedly ordered by a man, identified as Ibibi, to avenge his son’s death. Sources said his son, the late Ebibofa, was allegedly killed by his friends, Delta and Solomon Emmanuel. Trouble started when Delta and Solomon gave the late Ebibofa some drums to sell. The duo allegedly conspired to kill him because he could not account for the pro-

•Girl found dead near church From Isaac Ombe, Yenagoa

ceeds accruing from the sale of the drums, it was learnt. The sources said: “Ibibi, apparently not satisfied with the investigations being carried out by the police, reportedly organised some boys to bring the two suspects to him. “They were allegedly killed in his presence. One of the boys died on the spot

but the other one died at the hospital.” Police spokesman Eguavoen Emokpai said investigations have commenced. “The man has been arrested and he is making useful statements. The matter is under investigation,” he said. A 22-year-old girl, Bridgette Opusigi, has been killed. She was reportedly coming from Oruma in Ogbia Local

Government to keep an appointment in her church on Opolo-Elebele road when she was attacked. A source said: “Opusigi left home on March 16 for her church. We found her body near the church, five days later. “She was going for prayers for success in an upcoming interview. “She never returned home. We have been calling her phone since but no answer. Her phone was later found beside her body.”

Kinsmen divided over support for Edo PDP candidate

ESIDENTS of Agbodo community, hometown of the candidate of the Peoples Democratic Party (PDP) Maj-Gen Charles Airhiavbere are divided over who to support in the July 14 governorship election. Some members of the community, led by the Secretary, Bright Ogiemwonyi, last week denounced Airhiavbere and vowed to vote for the Action Congress of Nigeria (ACN). Ogiewonyi declared that the community has adopted Oshiomhole as its grand patron and by implication a son of the soil. He said the community has resolved to unanimously reject its kinsman and vote for Oshiomhole. But another group, led by the eldest man in the community, Pa Wilfred Airhiavbere, described the statements credited to Ogiemwonyi, as unfounded. Pa Airhiavbere at a briefing yesterday, said the group, led by Ogiemwonyi, were not indigenous of Agbodo but from a neighbouring community, called Evbuakhae. He said: “I see no reason why non-natives will act the way they acted. It is an in-

Oshiomhole picks Odubu as running mate •Ize-Iyamu leads campaign

DO State Governor and the Action Congress of Nigeria (ACN) candidate in the July 14 election, Adams Oshiomhole, has announced Deputy Governor Pius Odubu as his running mate. The governor made this known in Benin at the launch of his campaign headquarters. He said the choice of the deputy governor was arrived at after extensive consultations and in line with the guidelines of the party. He said: “There is no need to change a winning team since the present administration within the last three years and four months has made tremendous impact on the lives of the people.” The governor said the campaign has been christened: “Voters Mobilisation Exercise. ACN’s Southsouth leader Osagie Ize Iyamu is to serve as Director-General of the Campaign Organisation. Henry Idahagbon is Secretary and ACN Secretary Osaro Idah will be Edo South Coordinator. Oshiomhole said the Board of the campaign organisation will be headed by a national leader, Tom Ikimi. Charles Idahosa, Malik Afegbua, Mrs. Modino Emovon, Spaeker Uyi Igbe, ACN State Chairman Thomas Okosun, former Chairman of the party, Tony Omoaghe, the Secretary to Edo State Government, Dr. Simon Imuekheme and Osarodion Ogie will serve as members. The governor said the crack team of the campaign organisation is set to make a statement that election in this country should be based on issues, just as he appealed to the media to be objective in their reportage. Odubu said he is highly elated by his choice and pledged to remain loyal and committed to the party. From Osagie Otabor, Benin

sult to our family and our people. The insinuation is misleading and mischievous. ‘As true descendants of the community, it is impossible to disown Gen Airhiavbere at this critical

time. It will be foolhardy to turn back on our son.” He said in the interim the Agbodo community was already consulting on how to deal with the disaffection created by the misinformation, adding that Airhiavbere is held in high esteem for his exemplary service to the nation as an Army officer.

NYSC DG inaugurates lodge in Rivers

HE Director-General, National Youth Service Corps (NYSC), Brig.-Gen. Nnamdi Okore-Affia, has inaugurated the corps members lodge built by Khana Local Government of Rivers State. The building, which has 20 rooms en-suite, has recreational facilities, such as table tennis, football pitch as well as kitchen and laundry and is meant to accommodate 200 corps members serving in the local government. The DG said: “The project could not have

From Bukola Amusan, Abuja

come at a better time in view of the new posting policy of the NYSC scheme, which focuses more on rural health, education, agriculture and infrastructural development, which is bound to increase deployment to rural areas.” The Council Chairman, Gregory Nwidam, said he built the lodge to give the community the desired development of which the corps members are an integral part.

Fed Govt blamed for malpractices From Clarice Azuatalam, Port Harcourt

HE Federal Government has been blamed for the inability of multi-national oil companies to apply international best practices in their host communities. The Dutch Ambassador, Bert Ronhaar, said the practices are not implemented here because government is not policing the oil companies. The envoy spoke at a briefing in Port Harcourt at the weekend. “You cannot expect the oil companies to step into the shoes of government. “It is not the responsibility of oil companies to regulate themselves but that of government to regulate not just the oil companies but the private sector. “Nigeria is the only country where you see illegal bunkering and illegal refineries. “The country loses about $50million a day through these illegal activities.”

THE NATION MONDAY, MARCH 26, 2012

NEWS Officials thwart FIRS efforts to recover debt From Oseheye Okwuofu, Ibadan

TTEMPT by members of the Federal Inland Revenue Service (FIRS) to recover N44.10 million unpaid tax allegedly owned by an Ibadan hotelier, Francis Aiyegbeni, was at the weekend rebuffed by his counsel. There was drama on the premises of the D’Rovans International Hotel, as Aiyegbeni and three others frustrated moves by the police and FIRS officials to effect a bench warrant to arrest him. The warrant was issued by Justice Jonathan Shakarho of the Federal High Court, Ibadan, on March 12. This followed the refusal of the directors to appear before the court for an alleged N44.10 million tax evasion. The directors are: Dennis Aiyegbeni, Armstrong Aiyegbeni, and Royce Aiyegbeni. The charges include non-payment of Company Income Tax of N11.41 million (N11, 416,338) and non-remittance of Education Tax on staff training, totalling N756, 800. The third count is the non-remittance of Value Added Tax totalling N31.93 million and the fourth Evasion of Tax. Two officers from Oluyole divisional police office and officials of the Adeoyo Integrated Tax Office of FIRS, including two FIRS counsel, stormed the hotel to effect the arrest. The team was not allowed to meet the Managing Director. The counsel to the hotelier, C.O. Ojei, did not allow the bench warrant to be served on his client, claiming that he had just served them and the court a motion for stay of execution of the bench warrant. FIRS counsel Tolu Ade-Oluwa countered Ojei, saying the bench warrant of March 12 took legal precedence over the motion of March 23, which he noted had not been heard at all. He said the motion could neither be heard nor granted by the judge until the next sitting on April 24, adding that the bench warrant had to be effected first before any other one since it came first.

‘Job creation, my biggest challenge’

INISTER of Youths and Sports Development Bolaji Abdullahi at the weekend said his greatest challenge is how to create employment for about 67 million Nigerians. Abdullahi spoke at the first stakeholders’ meeting of “Showcase Nigeria Initiative (SONI)” in Abuja. He said about 40 per cent of the 67 million job seekers did not have formal education. The minister, who pledged to support SONI, said if well programmed, the initiative would alleviate the suffering of rural dwellers. Chairman, Senate Committee on Women’s Affairs

From Onyedi Ojiabor, Assistant Editor

and Youth Development Ms. Helen Esuene said the essence of SONI was to improve the lot of rural and semi-urban dwellers. Esuene, who is also Nigeria/West Africa Patron of World Women Trade Fair, organisers of the event, said SONI is an initiative of World Women Trade in collaboration with the National Poverty Eradication Programme (NAPEP). The lawmaker noted that SONI is a “multi-sectoral job creation and wealth generation programme for poverty eradication” focused on branding and building the country’s cultural economy.

•Anambra State Governor Peter Obi (left) and Innocent Chukwuma inspecting some of the Refuse Disposal Vehicles inaugurated... yesterday

STF parades suspects in Jos

HE Special Task Force (STF) in Jos, Plateau State, has paraded some suspects for alleged gun fabrication, car snatching, impersonation, drug trafficking and stealing. Parading the suspects yesterday at the STF headquarters, the Force’s Media/Information Officer, Capt Mdahyelya Markus, urged residents to continue to give vital information to the Force. Markus reminded the people that security is everyone’s business, hence the need for them to report any threat to security to enable

From Marie-Therese Nanlong and Yusufu Aminu Idegu, Jos

them promote the peace on the Plateau. According to the STF, “About 0230 hours on March 25, troops of 33 Artillery Brigade arrested Babale Peace Bala and Benjamin Dume Bukar, both students of the University of Jos at Babale, a boundary village between Bauchi and Plateau states. “They were caught with a locally-made pistol and three cartridges while driving a Toyota Corolla car with registration number

Lagos ES 948 FST. “On preliminary interrogation, they admitted snatching the car at gun point from Penni Vakkai in Rayfield, Jos. “Also arrested at Museum area were Tasiru Isah and Mohammed Asih at 0408 hours of March 23 while attempting to escape with two Toyota buses with registration numbers Adamawa AA 506 FUR and Bauchi XB 389 KTG loaded with stolen NITEL cables.” The STF also paraded Dung Bulus, a suspected gun fabricator, who was arrested at Shen village,

Bukuru at about 0830 hours of March 24 with three new fabricated guns. “Alex Danladi, a suspected impostor, was arrested by operatives on March 24 at Gyel, Bukuru in army camouflage T-shirt and boots. “Another suspect,Abdul, was arrested on Bauchi Road on the same day with some quantity of substance suspected to be Indian hemp.” Markus said the suspects would be handed over to the police and the National Drug Law Enforcement Agency (NDLEA) for further investigations.

NAMA takes over calibration unit

HE Nigerian Airspace Management Agency (NAMA) has formally taken over the operation of the Navigational Aids Flight Inspection Surveillance (NAFIS) from Nigeria Civil Aviation Authority (NCAA) in line with Federal Government directives. Facilities handed over to the agency at the weekend include: one calibration jet, hangar and office complex located at the local wing of the Murtala Muhammed International Airport, Ikeja, Lagos. The Director-General of NCAA, Dr Harold Demuren, at the ceremony, said the unit was formally being handed over to NAMA with 19 workers, including three contract staff.

By Kelvin Osa- Okunbor

Demuren said there would be a need to review the revenue sharing formula between the two agencies considering the additional overhead cost to NAMA on account of the calibration unit. Relevant legal documents were signed by the chieftains of the two agencies while photo albums of aircraft and equipment of the units were presented to the NAMA boss by Demuren. NAMA’s Managing Director Nnamdi Udoh hailed Demuren’s courage and forthrightness in ensuring that the handing over took place without any rancour. He warned that nobody should be blamed for the additional responsibilities given to NAMA.

Osun Assembly Speaker cautions Oni

PEAKER of the Osun State House of Assembly Najeem Salaam yesterday warned National Vice Chairman of the Peoples Democratic Party (PDP), Segun Oni to stop playing politics of relevance with the developmental agenda of Osun State. Oni, in the Nigerian Tribune on Sunday, said Governor Rauf Aregbesola was planning to descend on federal institutions, citing the NTA Osogbo and old Governor’s Office. In a statement by his Press Secretary, Goke Butika, the Speaker frowned at the statement credited to Oni, describing it as contempt of value, highly irresponsible and reactionary. Salaam said Oni’s statement would have been ignored, but the fact that he has just been given a new role as his party’s National Vice-Chairman calls for scrutiny of his statements. He said Oni lacks credibility to comment on the development drive in Osun, adding that the governor has explained the details of his transformation plan to lawmakers. Salaam said: “The Old Governor’s Office, Osogbo, belongs to Osogbo Local Government and the council has been using it for Ayegbaju market before the state was created. “Now that the Governor’s Office has been moved to another place, is there any crime in Aregbesola returning the old structure to its initial plan?” The Speaker implored Oni to face the task of re-organising his party in the Southwest instead of seeking cheap publicity with the transformation agenda of Osun State.

THE NATION MONDAY, MARCH 26, 2012

NEWS

Labour leaders, CNPP hail Fayemi over minimum wage

KITI State Labour leaders at the weekend hailed Governor Kayode Fayemi’s decision to pay its workers on Grade 7 to17 the new minimum wage. The Governor had on Wednesday, approved the payment for workers on Grade Level 7 to 17, four months after it announced a N19, 332 minimum wage for workers (the amount is N1,332 higher than the N18,000 passed into Law by the National Assembly). While workers on Grade Level 1 to 6 had been enjoying the salary package since December last year, those on level 7 to 17 will take the new pay with effect from April 1. The union leaders, under

the aegis of the Joint Negotiating Council (JNC), praised Fayemi at a meeting in Ado-Ekiti. They described the gesture as a manifestation of the government’s commitment to the welfare of its workers. Chairman of the Trade Union Congress (TUC), Mr. Kolawole Olaiya, said workers are now happier and more motivated, adding that they will put in their best to support the Fayemi-led administration. “This new wage you have signed is a manifestation of your good self, and a manifestation of your commitment to our welfare and we shall reciprocate this gesture”, Olaiya said. The JNC Chairman, Comrade Babatunde Ajayi,

‘This new wage you have signed is a manifestation of your good self, and a manifestation of your commitment to our welfare and we shall reciprocate this gesture’ said he was happy with the new wage, adding that the wage and the social security scheme of the government will make life easier for the people.

Ajayi said: “You have demonstrated your love for the people and the workers in particular. Ekiti has now become one of the few states in the federation to implement the new minimum wage for workers in its employ in line with the National Minimum Wage. We salute your leadership qualities and managerial skill, especially considering that Ekiti is at the rung of the Federal Allocation ladder.” “Some states in the federation which earn about N15 billion were yet to implement the new wage, saying Ekiti government’s gesture is an indication of its interest in the welfare of its workers. This new wage coming at a time the gov-

ernment has reinstated cars and housing loans for the workers and also effected outstanding promotion, is a sign that better days are here for Ekiti workers” Fayemi had also announced at the meeting that pensioners will also get 15 per cent raise in their monthly pension. The Conference of Nigerian Political Parties (CNPP) has said that the wage will reinforce workers’ confidence in the government and energise them to work harder for the realisation of the government’s eight-point agenda. The body, in a statement by its Chairman, Tunji Ogunlola, urged the workers to reciprocate the government’s gesture.

Aliyu to PDP leaders: be fair

HE Northern States Governors Forum (NSGF) yesterday hailed what it described as the peaceful conduct of the election of members of the Peoples Democratic Party (PDP) National Working Committee (NWC). Chairman of the forum and Governor of Niger State, Dr Mu’azu Babangida Aliyu applauded the consensus arrangement under which the new National Working Committee emerged, saying it is an indication that the party is intact and more united in its determination to ensure the survival of the nation’s democracy. In a statement by his Chief Press Secretary, Danladi Ndayebo, Aliyu challenged the new leadership to ‘be fair to all’ and make equity and justice its cardinal principles so as to avoid intraparty crisis that can derail the gains so far recorded. “Saturday’s convention has shown that our party is intact, our members united and our determination to ensure the survival of democracy in our country is stronger than ever.” Aliyu thanked supporters across the country for their continued belief in the party and its leadership, urging them to continue to keep faith with the party.

THE Minster for Agriculture and Rural Development, Dr. Akinwumi Adesina, will today address the maiden edition of Ogun State Investors’ Forum organised by the Ogun State Government. The froum will end tomorrow. Akinwumi, who has been spearheading President Goodluck Jonathan’s Transformation Agenda in the agriculture sector will, according to a statement by his Chief Press Secretary, Mr. Mathew Haruna, provide the road map for investments in the sector, the new fertiliser policy of the Federal Government, the various commodities value chains, emerging synergy between the Federal and state governments, and motivational reliefs for local and foreign investors and the benefits accruable to stakeholders in the sector from Ogun State. Later in the day, the former Prime Minister of the Republic of Ireland, Mr. Bertie Ahern, who is the keynote speaker will speak on Ogun State-Open for Business: Lessons from the Republic of Ireland.

Keyamo loses bid to prosecute Customs boss By Adebisi Onanuga

•Governor Sullivan Chime of Enugu State(middle) greeting the Chairman of the Peoples Democratic Party (PDP) National Convention Committee, Chief Ojo Maduekwe during party’s convention at the Eagles Square, Abuja...at the weekend. With them is Enugu State Chairman Vita Abba

Supreme Court re-affirms death sentence on killer security guard T

HE Supreme Court at the weekend re-affirmed the death sentence passed on a security guard, Stephen Haruna, for the murder of his madam, Miss. E. N. Igwe. The late Igwe was an Assistant General Manager, Legal, with the Power Holding Company of Nigeria. In the lead judgment delivered on Friday, by Justice Suleiman Galadima, it was established that Haruna (the Appellant) was the only person

From Kamarudeen Ogundele, Abuja

in the house of the deceased at the time of her death. Besides, there was no evidence of forceful entry into the house. The Police recovered a number of exhibits which incriminated him. His confessional statement was corroborated by the

Tokyo: Group pleads with Ajimobi SOCIO-CULTURAL group - the Ibadan Progressive Association (IPA) has appealed to Oyo State Governor Abiola Ajimobi to implement the judgment of the National Industrial Court (NIC) on the state’s Council of the National Union of Road Transport Workers (NURTW) without delay. The association said it is desirable for Ajimobi to accede to the rule of law and social justice . A statement signed by its Coordinator, Mutiu Akinloye, the association lamented the infiltration of the union by some leaders of opposition parties for selfish reasons. The statement reads:

Minister briefs Ogun forum today

Nigeria hosts 60th WAEC Council By Kofoworola Belo-Osagie

By Tajudeen Adebanjo

“Since Governor Ajimobi has sworn to uphold the Constitution, he should also endeavour to uphold the rule of law and social justice in all its ramifications, no matter whose ox is gored.” “It is unfortunate thatAlhaji Lateef Akinsola (aka) Tokyo has been a victim of political chess game by previous governments in their deliberate attempts to turn the NURTW into a political machinery against the personal wish of members of the union,” the association said. They pleaded with Ajimobi to allow the court-reinstated chairman of the Oyo

discovery of the stolen money, which he kept with his girlfriend at Kubwa, a suburb of Abuja. Haruna’s appeal was against the decision of the Court of Appeal, Abuja of January 22, which affirmed the decision of the High Court of Abuja Federal Capital Territory (FCT) delivered on October 6, 2008 in which he was convicted and sentenced to death for culpa-

ble homicide contrary to Section 221 of the penal code. “In the face of overwhelming evidence against the appellant, I cannot upturn the concurrent findings of the trial court and the Court of Appeal when the appellant failed to demonstrate that the said concurrent findings were perverse and could not be supported having regards to the evidence adduced by the Prosecutor”, Justice Galadima said.

•Akinsola

NURTW to enjoy the fruit of his judgment, stressing that “this is desirable in conformity with the slogan of the ruling party which is Democracy for Justice.”

HE 60th yearly Governing Council Meeting of the West African Examination Council (WAEC) begins today in Abuja with a lecture titled: “Nipping Examination Failure in the Bud” to be delivered by renowned educationist, Prof Pius Obanya. WAEC will celebrate its Diamond Jubilee this year. The lecture, holding at the Congress Hall of the Transcorp Hilton Hotel, will be graced by representatives of WAEC member countries from The Gambia, Sierra Leone, Liberia, Ghana and host, Nigeria as well as other special guests. The Council meeting will open tomorrow at a ceremony where the best three candidates in the 2011 WASSCE among member countries and top three candidates from Nigeria will be rewarded. Awards will be given to the schools that produce the best male and female candidates in Nigeria, as well as the best performing school. Two educationists, Mrs Margaret Oyebola Shonekan, former WAEC Head of National Office (Nigeria), and Prof Ifediorama Nwana, a former Council member, will also be conferred with the “Distinguished Friend of Council” award at the event expected to be graced by President Goodluck Jonathan. After a closed door sessions on Wednesday and Thursday, the meeting will climax with the investiture of Nigerians as the next chairman and vice-chairman on March 30.

LAGOS lawyer Mr Festus Keyamo has lost his bid to prosecute the ComptrollerGeneral of the Customs, Alhaji Mohammed Dikko for certificate forgery. Justice Yetunde Idowu of a Lagos High Court, Ikeja on Friday struck out a suit filed by the lawyer, seeking to compel the Director of Public Prosecution (DPP) to prosecute the Customs boss for alleged forgery of some education certificates. Justice Idowu, in her judgement, said she agreed with the arguments canvassed by the Attorney General of Lagos State, Mr. Ade Ipaye, that the application filed by Keyamo was premature and lack substance. “In view of the foregoing, I hereby refuse the application”, she said. The court also refused to grant the request of Keyamo for an Order of Mandamus to initiate criminal proceedings against the Customs boss for same offence in the event that the DPP failed to do so. Alhaji Dikko was alleged to have forged a West African School Certificate Examination (WASCE) result and a Nigerian Institute of Management (NIM) certificate. Justice Idowu held that the respondent brought some germane issues that cannot just be swept under the carpet. She observed that the applicant only brought before the court, copies of the certificates alleged to have been forged while the complainant, Olajide Ibrahim, did not honour invitations extended to him by the police investigating the matter.

THE NATION MONDAY, MARCH 26, 2012

NEWS Inmates riot at Gboko prison From Uja Emmanuel, Makurdi

NMATES of the Gboko Federal Prison yesterday morning protested over the poor condition of the prison and called for the removal of the officer-in-charge. The inmates, who are mostly awaiting trial, have for the past two months complained of lack of water, food and medical services. A prison official, who asked for anonymity, alleged that the inmates rejected their food because besides being a half ration, it was served without water. Armed mobile policemen and other security agents were called in to strengthen security to forestall jail break. Investigation by The Nation revealed that the inmates accused the officer of highhandedness. “There is a solar-powered borehole, but the officer will not put on the generator to pump water. Since he resumed, we’ve been served half plates of meal. So we decided to revolt because we are tired of the situation,” one of the prisoners said. No official from the Benue State Command of the Nigeria Prison Service (NPS) was available for comment, but sources said the officer-in-charge of the prison might be sanctioned.

Niger warns contractors of bond projects

From Jide Orintunsin, Minna

IGER State Government has warned the contractors handling the N9 billion infrastructural development bond projects, threatening to revoke the contract of any company that fails to meet up with the specification of the contract. The warning was made recently by Governor Mu’azu Babangida Aliyu at the flag-off of the rehabilitation of the Kwakuti-Kafinkoro-Gwada Road to mark the beginning of road projects under the N9 billion bonds. Aliyu, who was represented by the Commissioner for Works and Infrastructural Development, Dr. Ibrahim Sule, said the state would not hesitate to revoke the contract of any construction firm that failed to meet the contract terms. He added that the road project was not a Federal Government project but a state development project to increase mobility and socio-economic activities, alleviate poverty and increase revenue drive in the areas “where these projects are being carried out, to reduce the sufferings of the residents.” The governor called on the communities to cooperate with the construction firms and support them so that the projects would be successful. The Commissioner for Works and Infrastructural Development, who was represented by the Permanent Secretary, Ramatu Suleiman, said the rehabilitation of the Kwakuti-KafinkoroGwada Road would cost over N2 billion “and it is expected to last for 24 months.”

Rigging: ACN storms Kogi tribunal with visual evidence W ITNESSES of the Action Congress of Nigeria (ACN) have flooded the Kogi Governorship Election Tribunal with torn clothes and video clips to prove massive rigging and violence during the last December 3 governorship election. Seventy-one witnesses have testified for the ACN in the petition filed by Prince Abubakar Audu, the party’s standard bearer, who is challenging the victory of Capt. Idris Wada. About 30 witnesses under cross-examination last Thursday, Friday and Saturday alleged that PDP agents terrorised some polling units, intimidated voters and assaulted ACN agents, tearing their clothes.

From Mohammed Bashir Lokoja

Many of them who refused to sign the INEC FORM EC8B, claimed that their resistance was because of the malpractices, alleging that rigging in several wards was openly carried out and security agents did not help matter. Danladi Sunday, an ACN ward supervisor for Bagana in Omala Local Government, brought the clip of a video recording he made with his mobile phone showing PDP agents thumb- printing ballot papers in a house. He said when he was informed of the rigging, he

went to the place with his mobile phone and recorded the thumb-printing through a window without being noticed. Mr. Oluwasesan Fabiyi, the ward supervisor for Odo-Eri in Yagba West, alleged that an ACN lady agent was beaten, while others were chased away from the ward collation centre for refusing to sign the forms. Mr. Joseph Aro, an ACN ward chairman and supervisor for Oke-Egbe, came with his torn clothes, alleging that he was beaten as PDP agents went violent in their determination to perpetrate rigging. The supervisor for Oke-

Egbe 3, ward 10, Mr. Henry Aina, came with his torn suit, alleging that he was beaten and injured by PDP agents. Mr. Tayo Taiwo, the supervisor for Odo-Ere ward 3, also in Yagba West, who also brought his torn shirt and trousers, alleging to have been beaten by the PDP agents, said they entered houses collecting voters’ cards forcefully. He alleged that during voting, they collected the ballot papers from the youth corps members and thumb-printed them. “We challenged them and it resulted in a fracas. They tore my clothes and injured me in the leg.”

Winners’ Chapel petitions IG, SSS over alleged destruction of N50m property From Adekunle Jimoh, Ilorin

•Abubakar

HE Living Faith Church (Winners’ Chapel), Ilorin, Kwara State, has petitioned the Acting Inspector-General of Police Mohammed Abubakar

and the State Security Service (SSS) over the alleged destruction of its property worth N50 million. The property was on a land in dispute, located on the old Jebba Road, Sango, Ilorin. It was owned by the defunct Nigeria Telecommunications Limited (NITEL) and later bought by the church. Some Muslim youths and people in the Ajegunle community were alleged to have on Friday last week stopped construction on the site. According to a letter signed by the Resident Pastor, Sango branch of the church, Chris Osiberu, “the Living Faith Church hereby complains of the reckless disregard for law and order and wanton destruction of the property on its site at Sango, Ilorin by some Muslim youths and members of the Ajegunle community. “On March 23, after the Jumaat prayers, youths of the Ajegunle Mosque came en masse to the site, destroyed

the fence and demolished the building under construction. They also damaged the materials. They attacked the people they met on the site and stole two laptops. They also stole the tools of the building engineers. “This act was carried out in total disregard for the laws and the government institutions who have been mediating between the church and the youths for several months. At the last meeting with the acting police commissioner of the state, representatives of the Muslim community in Sango signed an undertaking to be of good behaviour and be held responsible for any breach of peace. “We therefore want anybody that has violated the laws to be punished.” Osiberu claimed that the church had met the recommendations of the Kwara State Town Planning and Development Authority (KSTPDA) before the start of the construction.

The Chairman, Inter-Religious Committee, Alhaji Muhammed Koro, said “we have a procedure for doing our job. If there is anything like that, we either receive a letter of complaint and visit the place. “I am not in Ilorin now and I am only one person out of the 18 people. If there is a problem, we either go there and look at it or the people when they write, we go there and see what is there. Let the church write to the council because we are going to meet on Thursday. If they write in time, we shall take the complaint to the people and get their own reaction. That is the procedure.” The Kulende Divisional Police Officer (‘E’ Division), Sango area, Abdullahi Aminu, confirmed the incident. “The church has complained and we have taken the matter to the Commissioner of Police and the Police Headquarters in Abuja. We are expecting their reactions.”

Minister urges Boko Haram members to continue dialogue with Fed Govt

HE Minister of Interior, Comrade Abba Moro, has urged the Boko Haram sect, in the interest of peace, to go back to the dialogue table with the Federal Government. Boko Haram members, according to Moro, should abandon the terror they have been unleashing on Nigerians, adding that the aggrieved issue would be ironed out. He was speaking in Abuja when the Speaker of the Borno State House of Assembly and some of the members visited him. Moro also called on stakeholders involved in the dialogue to ensure that the negotiation continues. On the call for the extension of curfew to 10pm, the minister assured the delegation that the message would be passed to President Goodluck Jonathan. His words: “Borno people are happy that our men are doing a good job. Let me say that the presence of security operatives, the declaration of emergency in some local governments and closure of borders in some entry points are not intended to punish the people of Borno State. On the contrary, they are intended to protect the life and property of the people.” “I want to assure you that your request for the extension of the curfew from 6am to 10pm when Muslims will be able to observe prayers will be well taken and will be passed to President Jonathan as soon as possible. I also want to assure you that the President has respect for all religions.

From: Gbenga Omokhunu, Abuja

“I want to challenge you further to see security as a collective responsibility of all. The people who are engaging in the suicide bombing, the people who carry out these bomb blasts, the people who mastermind this sectarian crisis, they are human beings. They live with us. “It is our responsibility therefore to follow the path of patriotism by agreeing to abandon the terror they are unleashing on Nigerians. I want to encourage all and sundry to take the path of dialogue and consultation. “At the moment, indications are given that the Boko Haram sect has abandoned the path of dialogue the Federal Government has established. Even against the backdrop of some disagreements on the basis of certain issues that are not acceptable to them. These unacceptable issues can be ironed out. I appeal to members of the Boko Haram sect to go back to the dialogue table in the interest of our people and those that have died. It is the prayer of every Nigerian that all parts of the country should be peaceful.” Speaker of the Borno State House of Assembly Abdulkarim Lawan, who begged President Jonathan to extend the curfew from 6am to 10pm, said: “In Borno, we have a very serious security situation. We have curfew in Borno State from 6am to 7pm. We appeal to the Federal Government to extend the curfew from 6am to 10 pm.”

THE NATION MONDAY, MARCH 26 , 2012

NEWS ‘Oyo town to be capital ESIDENTS of Oyo of new state ‘ town were excited at

Capital Market probe: Panel promises to be fair

From Victor Oluwasegun and Dele Anofi, Abuja

HE newly-inaugurated House of Representatives’ ad hoc committee raised to continue the investigation and identify the causes of the problems militating against the smooth operations of the Nigerian Capital Market has promised to be guided by fairness. Chairman of the committee, Ibrahim Tukur El-Sudi, in a statement yesterday assured that the committee is independent but will still require the cooperation of all stakeholders to meet the aspirations of the House of Representatives and Nigerians at large. It reads: “We are here fresh in blood and mind seeking to reverse the myriad of problems seeking to destroy our economy through the Capital Market. “Based on the fresh mandate, this committee has resolved to carry out an independent inquest into the issues. We urge all stakeholders to give us maximum cooperation. “The main objective of the open investigation is to find out the factors that led to the dwindling fortunes of the Capital Market and ways to arrive at the corrective measures to put it back on its feet. “Accordingly, the committee wishes to point out to all stakeholders that the principles of fairness, equity, justice and freedom of expression will be the hallmark of this fact finding exercise.”

•Nasarawa State Governor Umaru Tanko Al-Makura exchanging papers with the DirectorGeneral, National Agency for Science and Engineering Infrastructure (NASENI), Prof. Olusegun Adewoye, after a meeting...at the weekend.

Obi inaugurates N500m trucks, buses

NAMBRA State Governor Peter Obi yesterday inaugurated Refuse Disposal Vehicles, compactors, receptacles and school buses worth N500 million. At the ceremony, which held at Innoson Motor Manufacturing Company in Nnewi, Obi said Anambra is set to become the cleanest state in Nigeria. Innoson Motor Manufacturing Company was inaugurated in 2010 by President Goodluck Jonathan. Obi urged wealthy indigenes to emulate Dr. Innocent Chukwuma, who owns

From Odogwu Emeka Odogwu, Nnewi

the plant, and invest in Anambra. He said he decided to perform the inauguration at the company to show the world that vehicles are now manufactured in Anambra State. Nigeria. “Come and buy your wide range of needs at Innoson, rather than travel abroad for the same purpose,” Obi said. He said the buses were meant for schools that did not benefit from the over 150 buses earlier distributed. Obi said the refuse disposal trucks would improve

the refuse disposal system. He said the appointment of an environmental Chemist, Dr. Anthony Okoye, to head the State Waste Management Agency (ASWMA) would ensure a more effective agency. Obi said: “As long as refuse are not seen on Anambra streets, his work is secure; otherwise, the contrary will be the case. Now is not the time for platitudes, but for action and more action.” Chukwuma said the governor has always supported him and he did not regret investing in the state. Commissioner for Environment Mike Egbebike said

Soldiers destroy illegal refineries in Edo

OLDIERS destroyed two illegal refineries operating in the forests of Egono and Agbede, Estako West Local Government Area of Edo State, at the weekend. Nobody was arrested. The operators of the illegal refineries fled before the soldiers got there. The refineries work on crude oil obtained from vandalised pipelines. Pipes were used to transport the crude oil to the forest from more than five kilometres. At one of the refineries, more than 100 drums, filled with refined products, were destroyed. It was gathered that when a worker at one of the refineries died in the forest last month, his relative alerted officials of the Pipeline and Products Marketing Company of their illegal operations. Acting Commander of the military team, tagged, Operation Thunderstorm, Major Mohammed Abubarkar, who led the soldiers on the mission, said: “We received information that these things were going on, so we came to destroy it, even though we did not made any arrest. It is our duty to destroy it. We advise people to give us information always.” Also at the weekend, Army spokesman Bashir Jajira said four robbers were killed by men of Operation Pulo Shield in Issele-Uku, Delta State. Jajira said the robbers were

the weekend, when Governor Abiola Ajimobi said his administration is working to ensure that a new state is carved out of the present Oyo, with the capital in Oyo town. Ajimobi spoke at the Old Oyo National Park, during a reception organised by the Oyo Forum, Abuja, in honour of some political office holders of Oyo extraction. The governor eulogised the Alaafin of Oyo, Oba Lamidi Adeyemi 111, for his purposeful leadership. He said: “Baba, Iku Baba Yeye, is a dependable partner. Baba has always given me fatherly advices and I have never regretted any of them. So, Oyo town deserves to be state capital under our royal father.” Ajimobi, who was represented by the Commis-

•Kill four robbery suspects From Osagie Otabor, Benin

killed after a gun-battle with soldiers. He said one Toyota Avalon,

one Volkswagen Golf, three AK 47 rifles, 15 AK 47 magazines, six live catridges and six Nokia phones were recovered

from the suspects. Operation Pulo Shield is the new code name for the Joint Task Force and Headquarters 4 Brigade is in charge of sector 1, covering Edo, Ondo and Delta states.

Obi is determined to create a clean environmental that would be suitable for business. Commissioner for Education Kay Onyechi said that governor has boosted the sector by providing buses, computers and equipping laboratories. She said Obi gave some of his private property to schools.

From Oseheye Okwuofu, Ibadan

sioner for Works, Alhaji Yinus Akintunde, thanked the people for supporting his government and assured them that he would never disappoint them. He praised the awardees for representing the town well since the beginning of the administration urged the representatives of the forum to approach the government for any assistance. Chairman of the forum Segun Oke urged the government to rehabilitate the Erelu Water Works to ensure steady water supply; upgrade the School of Surveying in Oyo town to a university; and make the town attractive to tourists. House of Assembly Speaker Mosurat Sumonu, who was one of the awardees, urged political office holders to make positive impacts in the life of the people. Speaking through retired Bishop Ayo Ladigbolu of the Methodist Bishop, the Alaafin urged the awardees to create legacies that would speak for them after leaving office. The awardees include Commissioner for Works Yunus Akintunde, Senator Ayo Adeseun, Mr. Kamil Akinlabi and Dr. Bayo Ogundele.

Governors back northern elders From Odogwu Emeka Odogwu, Nnewi

HE Southeast Governors’ Forum has said the northern elders’ meeting scheduled for tomorrow is in the interest of the nation’s development. The governors said any group looking for a solution to the security challenges of the country must be supported. Chairman of the forum Anambra State Governor Peter Obi said this during an exclusive interview with The Nation. Obi said: “Any meeting in Nigeria that is for the peace, unity and progress of Nigeria should be supported, because it is a welcome development. “Nigeria is facing serious security challenges and different groups are meeting to find a solution to the ugly security situation. “I commend the Northern leaders for deciding to come together solve this problem.”

THE NATION MONDAY, MARCH 26, 2012

FOREIGN NEWS Pope Benedict leads Mass in Mexico

•Pope Benedict XVI

OPE Benedict XVI is celebrating an open-air Mass in the central Mexican city of Silao on his first visit to the Latin American country. Hundreds of thousands of people are attending the service, under a large statue of Christ in the city's Bicentennial Park. On Saturday, the Pope met President Felipe Calderon, with whom he discussed Mexico's drugs violence. Mexico is the world's second most populous Catholic country. Huge crowds have turned

out to greet the Pope during his visit, and thousands camped out in the park overnight on Saturday awaiting the Mass. This is the showpiece event of Pope Benedict's first trip to Mexico - a huge open-air Mass to some 300,000 followers in the Bicentennial Park in Silao. The excitement amongst the gathered Catholics is palpable with the youth playing a very visible part in the proceedings. People are dressed in white and yellow and many are looking for shade to protect themselves from the fierce early morning sun. But the atmosphere is one of celebration. That the head of the Catholic Church will lead Sunday Mass in this small town is more than many here had expected to see. The Church hierarchy hopes the event will help reaffirm the faith in Mexico where it has been losing ground to evangelical churches in recent years.

Taliban warn Pakistan

HE Taliban yesterday threatened to attack Pakistani lawmakers and their families if they support allowing NATO to resume shipping supplies through the country to troops in neighbouring Afghanistan. Pakistan closed its Afghan border crossings to NATO in November in retaliation for American airstrikes that accidentally killed 24 Pakistani soldiers. Pakistan’s parliament is scheduled to begin debate today on a revised relationship with the United

States that could lead to the border being reopened. Pakistani Taliban spokesman Ahsanullah Ahsan accused Pakistani officials of acting like slaves for the US and said allowing NATO supplies to resume would be “shameful and unacceptable.” “These parliamentarians must know that in such case, none of them will be safe in their homes,” Ahsan told The Associated Press. “We will start attacking all the parliamentarians and their families.”

•Long lines of voters formed outside polling stations in Dakar.

Senegal votes in presidential run-off

EOPLE in Senegal are voting in a second round of presidential elections that has seen opposition candidates unite against incumbent Abdoulaye Wade. Mr Wade, who has been in power for 12 years, failed to win the first round outright last month. His opponents have gathered behind his challenger, former Prime Minister Macky Sall, for the run-off vote. Mr Wade’s controversial bid for a third consecutive term sparked weeks of violent protests earlier this year. Six people were killed in those protests, but campaigning for the second round has been largely incident free. Observers will be watching yesterday’s vote closely to ensure it is free and fair as there are fears Senegal’s longestablished democracy could be tarnished by renewed violence, the BBC’s Thomas Fessy reports from Dakar. Mr Wade - who fell short of a majority in the first vote with 34.8% - has been touring the country seeking support from many Senegalese who did not vote last month. But his campaign staff have denied opposition claim that he was courting local and religious leaders with cash in order to secure their votes. Mr Sall came second in the 26 February first round with 26.6%, and secured the backing of the rest of the opposition candidates as well as the June 23 Movement (M23), which

has campaigned against Mr Wade’s third term bid. Mr Sall owes his political career to Mr Wade, and had held several ministry portfolios before becoming prime minister, our correspondent says. But, the two men fell out over the handling of public spending by Karim Wade, the president’s unpopular son, whom many believe is trying to succeed his father, our correspondent adds. Mr Sall has promised that, if elected, he will shorten the presidential term to five years from the current seven, and enforce a two-term limit. He has also promised to bring in measures to reduce the price of basic foodstuffs. Senegal’s constitutional court ruled in January that Mr Wade could stand again on the grounds that his first term had not counted since it began before the two-term limit was introduced in 2001. But critics fear he is simply following in the footsteps of other long-serving African leaders who have sought to hold on to power. Senegal, a former French colony, is seen as a stable democracy with an unbroken series of elections since independence in 1960. It remains the only West African country where the army has never seized power.

Missile test: Obama warns North Korea against launch

•Obama

NITED States President Barack Obama has warned North Korea that it will "achieve nothing by threats or by provocations". The warning comes as Pyongyang prepares to launch a long-range missile which it

says will put a satellite in orbit. Mr Obama was speaking after talks in Seoul with South Korean President Lee Myungbak, ahead of global summit on nuclear security. The two leaders said North Korea risked further sanctions and isolation if it did not cancel its launch plans. Mr Obama said Washington and Seoul were "absolutely united" that "bad behaviour" by North Korea would not be rewarded. "North Korea knows its obligations and it must take irreversible steps to meet those obligations," he said. The launch will contravene an agreement Pyongyang reached last month which

would have seen it receive food aid in exchange for a partial freeze on nuclear activities and an end to ballistics tests. Mr Lee, who spoke alongside Mr Obama, said their countries had "agreed to respond sternly to any provocations and threats by the North and to continually enhance the firm South KoreaUS defence readiness". But he said the international community stood ready to help North Korea improve the lives of its citizens if it chose a path of peace. Mr Obama also criticised China, saying its refusal to challenge North Korea on the nuclear issue was not working as a policy.

Syrian crisis: 'UN mission last chance to avoid civil war'

USSIAN President Dmitri Medvedev has offered full support for envoy Kofi Annan's peace mission in Syria, saying it may be the last chance to avoid a "prolonged and bloody civil war". The government in Moscow urged Mr Annan to work with both the Syrian government and opposition to end the violence. Mr Annan has been seeking to persuade Russia to take a firmer stance against President Bashar al-Assad's government. He will later go to China which has also usually backed Syria at the UN. As clashes continue, Human Rights Watch has accused Syrian government forces of using civilians as human shields. Activists reported further bombardments and casualties yesterday in the Homs area. More than 50 people were reported to have been killed in shelling or shooting by the security forces on Saturday, many of them in

Homs. The United Nations says the conflict has cost more than 8,000 lives since it began a year. The Syrian government blames violence on "terrorist gangs" and says some 3,000 members of the security forces have been killed. Foreign media face severe restrictions on reporting in Syria, and it is hard to verify the claims of either side. Russia may have vetoed two UN Security Council resolutions condemning President Assad, but Moscow fully supports Kofi Annan's peace mission. In his talks with the joint UN and Arab League envoy, President Medvedev will make it clear that Moscow's priority is to secure an immediate ceasefire by all sides in the conflict. The Russians, though, have already warned that peace will not be achievable while the Syrian opposition is receiving weapons and political support from outside.

THE NATION MONDAY, MARCH 26, 2012

NEWS Crisis hits Bayelsa PDP By Emmanuel Oladesu Deputy Political Editor

HE crisis rocking the Peoples Democratic Party (PDP)in Bayelsa State escalated at the weekend as federal lawmakers from the state shunned the national convention at the Eagle Square, Abuja. The senators and House of Representatives were protesting against certain partisan actions of Governor Seriake Dickson, it was learnt. However, supporters of the governor frowned at their refusal to attend the convention, saying that it was a gang-up. Recently, there were complaints that the governor had forced “a paradigm shift on policy and resource allocation”. The Secretary-General of Bayelsa Integrity and Renaissance Group, Mr. Priye Richards, who spoke to reporters at the convention attributed the absence of the lawmakers to “gang-up” against Governor Dickson because of his approach to governance has been in conflict with the stand of the lawmakers. He said that since Dickson came to power, he has explained that he won’t run the government on the basis of “illicit patronage” whereby people get unearned income and having kept his words, the entrenched politicians are not happy with him. He was emphatic that the absence of the lawmakers from the national convention as they did at the state and zonal congresses was a fallout of disagreement on how the new government should expend state resources particularly on the stoppage to huge funds hitherto disbursed to political interests in the state. “ What the absence of our Senators and members of the House of Representatives from our state congress and national convention today has so far shown is that they have ganged up against Governor Seriake Dickson because of his principled stance on resource allocation in Bayelsa State. “Since he became governor, he has told everybody that the era of cheap money, whereby huge money is shared among politicians at the expense of the state is gone. He campaigned on this issue, saying no more unearned income and he has kept his words but the entrenched politicians are not happy and they are expressing so asd we witnessed here in Abuja today”, he said.

Respect party structure, Mark, governors tell Tukur S ENATE President David Mark and Peoples Democratic Party (PDP) governors have urged the party’s National Chairman, Alhaji Bamanga Tukur, to respect its structure. They also enjoined him to reconcile aggrieved members. Ensuring discipline and unity in the party, Mark said, would make it to be result oriented. A statement by the Chief Press Secretary to Senate President, Paul Mumeh, said Mark gave the admonition in a congratulatory message to the party’s new leadership. It quoted Mark as saying that there is urgent need to begin the process of building bridges of understanding that would engender peace and unity mostly desired in the party before the forthcoming elections. Mark said: “Even though we achieved consensus in virtually all the positions, we cannot totally rule out that some of our members may have been dissatisfied one way or the other. “It is therefore incumbent on the new leadership to begin the process of fence mending, so that everybody is carried along. “The PDP is a large family and the umbrella is large enough to accommodate all members. “This family ties must be

•Tambuwal, Ekweremadu seek support for PDP chair

By Emmanuel Oladesu, Onyedi Ojiabor, Sanni Onogu, Bukola Amusan, Ugochukwu EkeVictor Oluwasegun and Dele Anofi, Abuja

sustained so that together, we can join the transformation train that would ultimately take us to the promised land.” THe Senate President reminded the Tukur-led NWC to be guided by the principle of fairness, justice and rule of law in the discharge of its duties, adding “if you do so ,you will earn the support and respect of all members and your administration would be smooth.” Mark also told those who lost out at the convention to support the new leadership. He promised that the PDP lawmakers in the National Assembly would continue to support the new leadership to succeed. House Speaker Aminu Tambuwal urged all members to support Tukur and other national officers. He said Tukur’s emergence alongside others officials signals a new beginning for the party. A statement by his Special Adviser on Media and Public

Affairs, Malam Imam Imam, quoted the Speaker as urging all members to seize this opportunity to rally round those elected in order to put the party on the path of reconciliation. He said the new leaders should work towards building a united party founded on the virtues of discipline and principles of internal democracy. Also, Deputy Senate President Ike Ekweremadu described the emergence of Alhaji Tukur as a blessing and added impetus for the party. Ekweremadu, in a congratulatory message to elected national officers, according to a statement by his media aide, Uche Anichukwu in Abuja, described the elected members of the PDP National Working Committee (NWC), as a first class team which would take the party to greater heights. “Alhaji Bamanga Tukur’s emergence is a blessing for the party, being a respected statesman with a rich reservoir of experience and popular support needed to strengthen the party and consolidate the gains made so far”, he stated. Congratulating the PDP delegates for the hitch-free conduct of the party’s National Conven-

tion, he enjoined all members to support Alhaji Tukur and his team to accomplish the lofty agenda which made them the preferred candidates of the party. Delta State Governor Emmanuel Uduaghan said in a congratulatory message to Tukur that PDP would achieve unity, peace and greatness, if its structures are not sidelined. His Abia State counterpart, Governor Theodore Orji, said in a statement by his Chief Press Secretary, Ugochukwu Emezue, that the chairman should offer quality leadership at this crucial time. Orji said: “Apart from experience, Tukur is a visionary leader, team player, thorough bred politician and a man that is ready to make sacrifice. It was a wise decision to make him the chairman”. Uduaghan, in a statement by his Chief Press Secretary Mr. Sunny Ogefere said there would be peace in Delta PDP, if the national leadership relates with the branch through the existing state structure. The Minister of Federal Capital Territory (FCT), Senator Bala Mohammed expressed confidence in the leadership of Tukur, who he described as a towering patriot, party loyalist and bridge builder. He advised him to see himself as a father and unifying force for all party members.

From Onyedi Ojiabor, Assistant Editor

THE Senate Committe on Federal Character and InterGovernmental Affairs yesterday invited the Transport Minister, Senator Idris Umar, Chairman of the Federal Inland Revenue Service (FIRS), Mrs. Ifueko Omoigui-Okauru and the Corps Marshall and Chief Executive of the Federal Road Safety Corps (FRSC), Mr. Osita Chidoka to clear the controversy trailing the new driver’s licence. Others invited to appear at a public hearing include the National Union of Road Transport Workers, Luxury Bus Owners Association of Nigeria, Road Transport Employers Association of Nigeria, Amalgamated Commercial Motorcycle Owners and Riders Association of Nigeria, Directors of Vehicle Inspection Offices in the 36 states and the Federal Capital Territory (FCT), security agencies, and civil society groups.

Police warn vehicle owners THE Lagos State Police Command has warned owners of vehicles parked at Okota Isolo, Ipakodo, Okooba , Ogudu and Ojodu divisions to remove them or forfeit same through auction. The vehicles are: BMW saloon car LM629AAA, Isuzu Jeep MY158AAA (accidental), LT Lagos State colour XH859LSR, Unregistered Land Rover Jeep, Mazda 626 GJ356LSR, Honda Accord car CV894LSD, V/W Golf car AE189LAW, Nissan Prumerca JF800KJA, One scrap Opel Kadet Saloon car CX945LSR, One scrap Opel BMW saloon car D5541LSR, One Scrap Volkswagen bus XA519FKJ and One Scrap Volkswagen bus X729KSF.

Funeral for lawyer April 11

•President, Catholic Women Organisation, Abuja Archdiocese, Mrs Justina Maimagani (left), and National President, National Council of Catholic Women Organisation of Nigeria (NCCWON), Mrs Felicia Onyeabo, leading other women in a thanksgiving procession during the Mothers’ Day celebration in Abuja…yesterday

Fayemi restates commitment to revamping agriculture KITI State Governor Kayode Fayemi at the weekend spoke of his administration’s commitment to revamp the agriculture sector and make it a source of revenue. The Governor reiterated this commitment at the Ekiti Day organised by Ekiti Parapo Lagos on Saturday, where its 10 prominent sons and daughters, including Chief Wole Olanipekun (SAN; Emeritus Professor Oladunni Olaniyan-Taylor and Director General , National Drug Law Enforcement Agency (NDLEA), Mr Olufemi Ajayi, were given special awards. Other awardees include, Chief Afe Babalola, Miss Tosin Otitoju, Chief Jimoh Aliu, Dr Victor Olaiya; Chairman, Access Bank, Mr Gbenga Oyebode, Mr Femi Falana and Mrs Abiodun Duro Ladipo. Fayemi said his administra-

Senate invites FRSC boss, FIRS chair, Minister

By Nneka Nwaneri

tion has decided to give attention to the production of cassava, cocoa and rice; even as government has begun a one product per local government policy as part of moves to restore the state to its place as the food basket of the Western Region which it used to be in the 1950s. Expressing the readiness of his administration to support initiatives that would help government actualise its vision for the sector, the Governor promised government’s support for the cassava factory initiative which Ekiti Parapo is building at Ikole Ekiti; adding that it would help actualise the government’s vision. Fayemi said: “Our administration is very much committed to turning agriculture to a major issue in our state. Yes we are brilliant, we go to

school but we can do a lot more in the field of agriculture and Ekiti Parapo Lagos has demonstrated that by investing in the cassava processing factory. One of the policies of this administration is what we call the one product per local government. “Cassava has become a big issue for us and as part of our initiatives in agriculture, cassava is a key commodity that we have identified as worthy of being put to greater height. We have identified three major products: cocoa, cassava and rice. Cassava is the one that we have been really committed to pushing more consistently than other products. I want to say as part of our contribution to this initiative that Ekiti Parapo Lagos has started that we will support it,” Fayemi said. Lauding the contributions of the 10 awardees to the development of Ekiti State, the Governor said it was not a coinci-

dence that six of them are brand ambassadors of the state and are featured in the state’s 2012 calendar as well as a column on the state websitewww.ekitistate.gov.ng . This, he said has underscored the position of the administration that brilliance was not enough to make an Ekiti person but also character and dignity. Fayemi said: “We are not celebrating them because they are 419ners, or someone with questionable wealth or character, but because they have demonstrated that they are worthy of the honour. All of them starting from the youngest- Miss Tosin Otitoju to the oldest, Dr Victor Olaiya- have earned this honour and recognition by dint of hardwork and their various contributions to the state. “It did not come as a surprise that six of them have ear-

lier being named as Ekiti Brand Ambassadors by the state government, while the state had last year, singled out one of them- Dr Victor Olaiya for a special recognition. The other three, I must say also merit to be named as brand ambassadors of the state, judging from their respective contributions.” The President of Ekiti Parapo Lagos, Chief Kola Akomolede said the Day was not only to bestow awards on deserving Ekiti indigenes but also to raise funds for the development of the state, especially for the completion of the cassava factory which would cost about N50 million. Akomolede added that on completion, the project would help generate employment for the youths and support the effort of the Fayemi-led administration in combating unemployment.

THE final funeral rites for Abraham Adebayo Oladapo, a lawyer, begins on April 11, with a Service of Song at his 30, Asa-Afariogun Street, off Osolo Way, opposite Diamond Bank, Ajao Estate, Isolo, Lagos home. He was 76. Funeral service will hold on April 12 at St. Michael Anglican Church, 101, Akowonjo/Egbeda Road, Vulcaniser Bus-stop, Akowonjo town, Lagos. Entertainment of guests will hold at Banilux Events Place, 2/8, Chapel Street, off Commercial Avenue, Sabo, Yaba, Lagos. A 1964 Law graduate of the University of London, Oladapo was a career civil servant and retired as the Director of Legal Service in the Federal Ministry of Education. He is survived by five children and grandchildren.

•The late Oladapo

THE NATION MONDAY, MARCH 26, 2012

www.thenationonlineng.net

MONDAY, MARCH 26, 2012 TRUTH IN DEFENCE OF FREEDOM

TOMORROW IN THE NATION

‘For navigating the political minefields during the IBBAbacha era, the most dangerous time in Nigeria’s political history, he has earned his epaulettes as a battle-tested and trusted political general’

OLAKUNLE ABIMBOLA

VOL 7 NO 2,076

C OMMENT & D EB ATE EBA

Y first encounter with Asiwaju Bola Ahmed Tinubu was in 1993 when he was a senator. I was the bureau chief and managing editor of The Concord in Abuja. I was still trying to understand the city as the emerging cauldron of Nigerian politics. The then Nicon Noga Hilton was a ritual buzz of politics, as febrile a spot of politics as the National Assembly. At the entrance was a man in glasses, feisty with bold penetrating eyes and a presence that belied his height. Charisma defies height. Ask Napoleon Bonaparte. He was surrounded by reporters picking his brain about the turmoil of June 12 enveloping the nation. He was speaking frankly and defiantly. He was miffed by the annulment of the mandate freely given to M.K. O Abiola by the Nigerian people. His voice had a blend of the student activist and the British parliamentarian, a delicate chemistry of boisterous youthfulness and sublimity. It was the sort of energy you found in the young John F. Kennedy – then a senator - when he ran for the president of the United States and won. I had heard of him prior to that afternoon, had seen his ubiquitous posters in Lagos when he ran for the senate seat. But I was touched to hear him speak with such deadpan directness and defiance when many lawmakers were seeking accommodation with the Babangida administration and the top military brass. He became an instant source of news for me. When I visited Concord office in Lagos and we had an editorial meeting with Editor-in-chief Dr. Doyin Abiola presiding, I did not hesitate to announce it that if we wanted an ally in the fight to restore Abiola’s mandate, Senator Tinubu was a stout and dependable force. I took his number in the early days of the cell phone or “not-nine-not” as we called it. He picked my phone anytime and was ready to speak frankly. The circumstances were a quicksand. No one knew when the military would put an end to the proceedings. My life then was under threat as two SSS vehicles trailed me every day and everywhere. My encounters with Tinubu lasted barely a month before I sneaked out of Abuja to the sanctuary of Lagos. That was when Sonekan took over and Abacha in tow. The next I saw Tinubu was in Ikoyi when things were getting ominous for Nigeria and men like him and it was obvious I was losing an invaluable contact and new friend. He had rejected the state of things in the country. With a few of his fellow lawmakers in a press conference, he affirmed the integrity of democracy over the fiddling of the military. He looked the soldiers in the eye. I was not to hear about him again until he had fled Nigeria. I too was safe abroad in the United States. There are some people you see all your life and they never make any impression. Others appear like a soap bubble or movie cameo yet they assume the power of eternity on the mind. They haunt your imagination. Tinubu did. We never had direct contact nor indirect ones, but I monitored him anyway from the perilous days of NADECO ABROAD to his return to Nigeria and emergence as the Governor of Lagos State. Now, six years after my return to Nigeria, I look at the political terrain and wonder what

RIPPLES PDP must uphold internal democracy– Mark

...then learn to OBEY COURT ORDERS!

SAM OMATSEYE

IN TOUCH

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

Sixty years on

•Tinubu might have been in Nigeria. I mean without him in the political atmosphere where would Nigeria be? It is when we ponder it that we realise what Ralph Waldo Emerson said, “there is properly no history but the biographies of great men.” Since the fall of the military, he has been a bastion of the democratic spirit. He has also served as a model of governance, a gift of a generation and counterfoil to all the armies of reaction masquerading as the people’s icons. We saw him take the position of the defender of the federal principle, holding forth, a trained auditor working as the avenging angel of the law. With Obasanjo holding the centre like a marauding soldier of fortune, he mobilised

lawyers and, sometimes, other governors to challenge the hubris of military dictatorships in the system. He had many competent lawyers around him, including Babatunde Raji Fashola, SAN, now governor of Lagos and model of other governors, and Yemi Osinbajo, his attorney general and commissioner for justice, and later Tunji Bello, environment commissioner with his double header as topflight journalist. While working to ennoble the system, he began work at home, taking the infrastructure in earnest with Ogbeni Rauf Aregbesola, as works commissioner. He ran a government of economic engineering and brought the tax system to the modern era. From raking in N600 million a month, he left office with about N9 billion a month in internally generated revenue. He showed an eye for talent. His backing of Fashola then to be Lagos helmsman has turned out to be one of the most popular choices he has made in his public life. He loves talent and he is not afraid to try an idea and that is why he is not afraid to walk solo in principle so long as he believes in the justice of his position. Lagos is Nigeria’s most important state, and for the state to be in good hands for another generation is not only a plus for the state but for Nigeria. The leaders in the centre are not showing any examples. If Tinubu had been like the routine politician, we would not have a model to follow. We would not have the transformation in law, in federal pursuits, in institution building. We would not have Fashola in Lagos with his epochal strides in governance. Also we would not have Amosun in Ogun who is bringing sense and sensibility to governance after about a decade of megalomania. Or Ogbeni

HARDBALL

Aregbesola with prudence and method with which Osun State is stepping into the future. Or Abiola Ajimobi for efforts to restore Ibadan and environs to its historic grace and splendour. Or Kayode Fayemi, the intellectual governor soldering grassroots development with the high standards that Ekiti people have craved for a generation. Or Adams Oshiomhole, a work horse of progress all over Edo State. Other than this, on the national stage, imagine Tinubu out of the loop. We would have PDP everywhere and showing impunity with greater devilry. We would not only have had Odi in Bayelsa and the counterpart in Benue, but all over Lagos. Remember Obasanjo wanted to overrun Lagos. Tinubu is a testament to what a writer called wise daring. He has courage but with a purpose. It has been argued that we have passed the age of the charismatic leader. Those who say so point out the decline of the industrial age, the transformation from the age of factories to the age of the information. With the new media and lack of direct contact to leaders, we cannot feel the empathy of leadership. So persons like Napoleon, Churchill, Lincoln, Mandela, Disraeli had tactile relationships with the crowd. These days, leaders thrive not on campaign grounds but on celluloid and cyberspace. Yet we have seen a few transcend technology. In Nigeria, Tinubu provides such an example and it tells us that we can fight if only we have the will. There is so much impunity today, so much poverty, so much ineptitude. We need a Tinubu, or else Nigeria will be at the mercy of men like Goodluck Jonathan who play politics for politics sake while the nation slides into violence and hunger. Kudos to a man of courage as he turns 60 this week.

The Aremo smiles

HE great duo of Mike Awoyinfa and Dimgba Igwe toasted Aremo Segun Osoba with a book. The event was launched last week with great gusto and many who mattered and who matter were there. I speak to his journalism, a man who showed talent and gumption in the age of the soldier. Some might say his journalism was not anti-military but no one can doubt the skill and prescience of his CRAFT. I greet him, but also Mike and Dimgba who are the Siamese twins of journalism. Both are great examples of newspaper managers like Babatunde Jose, Sam Amuka, Osoba himself, Nduka Obaigbena and Stanley Macebuh. For Osoba, I say many kudos to an egbon.

•Hardball is not the opinion of the columnist featured above

Between opposition one-man shows and PDP’s withdrawal syndrome S PEAKING at the 59th National Executive Committee (NEC) of the Peoples Democratic Party (PDP) on February 29, President Goodluck Jonathan sarcastically dismissed opposition political parties as platforms for the exhibition of one-man shows. The ruling party, he boasted, was more democratic and better structured to advance Nigeria’s nascent democracy. Said he: “For now, the PDP is the only political party we have in Nigeria that does not have one person whose word is law. Most other parties have individuals whose words are the laws. In the PDP, there is no such person whose word is the law.” But barely four weeks later, in one of his bouts of periodic amnesia, the president made his word law as the party organised its national convention to select new officers to run the affairs of the PDP. Some newspapers had during the week made a mountain out of a molehill of the amateur rebellion planned by governors and party men in the Northeast geopolitical zone during last Wednesday’s zonal congress. There the president’s favoured aspirant for the post of the PDP national chairman, Alhaji Bamanga Tukur, was publicly and dramatically repudiated. The zonal choice was the immediate past national secretary, Dr Musa Babayo. There was no need for the zonal caucus to select or elect anyone for the coveted post, for the party rules and guidelines do not make it a requirement to participate in the convention or stand for any national

party post. But the Northeast zone was in a fever and wanted to put the president in his place. Perhaps they took to heart the president’s vaunted claim of internal democracy in the PDP, and they felt by making Babayo their zonal choice, they could go to the Abuja convention and democratically fight the matter out to the bitter but probably triumphant end. By Friday night and the wee hours of Saturday, it was becoming clear to the Northeast rebels, freelance antagonists of the president, starry-eyed democratic theorists of the party, and even the eminent propagandist emeritus and redivivus, Ebenezar Babatope, that there was only one lawgiver in the PDP, the great Kanuni himself, Jonathan. According to a newspaper report on Sunday, the president met with the Northeast rebels and drew a line he dared them to cross. He had conceded the post of the National Secretary to them, the paper recounted the president as moaning, and the governors were given a free hand to run their states with fief-like splendour. So why were they pushing their luck in fighting the president over the candidacy of Bamanga Tukur? Jonathan was reported to have queried. Sensing danger, and realising that the internal democracy claim was a ruse, the governors, some of whom lived in glass houses,

backpedalled even as other aspirants began to withdraw. This was not the first time aspirants withdrew wholesale at a PDP convention. They are used to it, and they have christened the syndrome as consensus or family affair. Babatope was reported to have wept in disillusionment as he withdrew; Olagunsoye Oyinlola, the autocratic former governor of Osun State, humoured another withdrawer, Dr Tunde Adeniran, by prostrating before him in what newspapers good-naturedly and charitably described as traditional respect. Others too insignificant and anonymous to be recognised simply fled from presidential fury with their tails between their legs. A Northeast party apparatchik, according to a newspaper report, put the president’s steamrolling methods in colourful perspective. Said he, as he asked his own candidates to withdraw: “The president might not be a pharaoh; but he is a boa constrictor and python. It takes a python a very long time to destroy, and a boa has no friend. Go and withdraw.” There will be more such peremptory orders in the coming months and years as Jonathan bares his fangs and composes paradoxical poems on democracy and rule of law. Were the PDP to be a zoological camp, Jonathan’s taxonomic fecundity would see him giving one-man shows the biological name of consensus. After all, they belong to the same genus.

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