May 18, 2015 by The Nation

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‘Why kidnappers are busy in Ekiti’ NEWS – Page 7

MORE •APC disowns ministerial list in circulation •AND ON PAGES •President-elect Buhari drops General from title 4,5,6&9 •NorthEast Reps endorse Gbajabiamila/Munguno •21 men arrested in Ibadan for being in ‘gay cult’

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VOL. 10, NO. 3218 MONDAY, MAY 18, 2015

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•INSIDE: JUDGE ASKED TO HANDS OF N5.2 BILLION SUIT AGAINST CBN, OTHERS P9

First Lady: strange ailment gone after Jonathan’s loss ‘I had 12 operations in one month’

T was an emotional valedictory service yesterday at the Aso Villa Chapel. President Goodluck Jonathan and the First Lady bade the congregation a moving farewell. Dame Patience Jonathan spoke on her health – she went through many surgeries, but a major one was called off because the ailment had disappeared immediately after her husband lost the presidential election. She did not disclose the nature of the ailment. Stressing that she was due for a major operation

Jonathan seeks forgiveness

Within one month, I passed through 12 operations ... ‘Some people ... said she is dead but God resurrected me. God told me, ‘my daughter ... go and finish your work’. And today, if my husband lost this election, I believe God has made me finish the work. From Augustine Ehikioya, Abuja

after the election, she said that tests carried out on her in four hospitals abroad showed that she was healthy and no longer required any

operation. But Mrs Jonathan disclosed that she went through a major operation abroad in January during campaigns for her husband’s re-election. The First Lady, who was

giving thanks to God at the Aso Villa Chapel, was grateful to God for making it possible for her and her husband to leave office hale and hearty. She said: “I really thank

’

God for keeping me alive. He is a miraculous God. God is so wonderful in my life because people prophesied that one of us will not go back. But Continued on page 60

•Mrs Jonathan ... yesterday

Military angry with Ezekwesili From Yusuf Alli, Abuja

ORMER Minister of Education Dr Oby Ezekwesili has come under attack from the Defence Headquarters (DHQ) for her Chibok girls campaign. The girls were abducted from the Chibok Secondary School in Borno State more than one year ago. The 219 girls have not been seen since then. Dr Ezekwesili is a key member of the BringBackOurGirls (BBOG) group that has been Continued on page 4

Why jetties got quit order By Akinola Ajibade, Staff Correspondent

HE row over the relocation of private jetties continued at the weekend, with Federal Government sources saying the decision was taken for security reasons. Other reasons are technical and legal matters that may affect the usage of privately-owned jetties in the country, it WILL THE CHIBOK GIRLS was learnt. The Nation reported KIDNAPPED ON exclusively that PresiAPRIL 15, LAST dent Goodluck YEAR EVER RETURN? Continued on page 60

•Blessing Okagbare-Ighoteguonor (middle) of Nigeria is embraced by Shelly-Ann Fraser-Pryce (left) and Veronica Campbell-Brown both of PHOTO: AFP Jamaica after winning the women's 100m event at the Diamond League athletics meeting in Shanghai ... at the weekend.

Okagbare wins 100m in Shanghai

P AGE PA 63

•SPO RTS P24 •JOBS P29 •CEOP37 •MOTORS P39 •POLITICS P45 •FOREIGN P58

THE NATION MONDAY, MAY 18, 2015

NEWS

Shareholders… Years after they sank their life-savings in the stock market in the wake of the cosmetic boom of the 2000s, most investors are still licking the wounds. But many, who have learnt the lessons, are not discouraged. They now understand the market better, writes Capital Market Editor TAOFIK SALAKO •From left: Managing Director, HarvestField Industries Limited, Mr. Martins Awofisayo; Country Group Manager, SubSaharan Africa, Bayer Environmental Science, Mr. Sylvestre Jobic; Director, National Agency for Food, Drug Administration and Control (NAFDAC), Dr. Bukar Ali Usman and Manager, Anglophone West Africa, Bayer Environmental Science, Mrs. Adjo Mfodwo at a stakeholders’ training and seminar on pest control at Maryland, Lagos.

•Government Relations Manager, Shell Nigeria Exploration and Production Company, Mr. Steve Okwosa (left), Public Affairs Officer, National Petroleum Investment Management Services, Mrs. Tolu Derin-Adefuwa and Head, Operations, Innercity Mission for Children, Mr. Kaycee Kanu at the handover of the NNPC-Shell e-Learning Centre to the Mission's primary school in Ikeja.

•From left: Head, Systems Air Conditioners, Samsung Electronics West Africa, Mr. Rajesh Menon; Head, Consumer Electronics, Parikshit Chandna; Director, Consumer Electronics, Sunil Kumar and Product Manager, Room Air Conditioners, Mr. Shivesh Srivastava, at a news conference on Samsung AC Technical forum/launch of Samsung Digital Variable Multi Super system AC and smart inverter air conditioners at Samsung Office, Victoria Island, Lagos.

•Senior Brand Manager, Three Crowns Milk, Maureen Ifada presenting a ticket for Dubai trip to Mrs. Olamide Olaleye, winner of the Three Crowns Milk Mother’s Day Campaign at her Lagos home...at the weekend.

IS voice cracked with emotion. Adewole Peter, 70, was retiring in 2005 when the stock market frenzy caught the nation. Wherever he turned to and whoever he talked to about his retirement plan and savings, the wagers were on the stock market. He could recognise most of the companies. They have been around for quite a while, but some were new. The better-known companies were the banks, and they were also the more aggressive group. Wary and still unconvinced, held down by 40 years experience in a public corporation and age-long attachment to physical assets, Adewole started investing - grudgingly - in late 2005, starting first with a small portion of his pension payment. By mid 2006, the value of his shares had nearly doubled. With much similar stories around him and media reports of the surging wealth in the stock market, he needed less conviction to commit more funds. He piled up much funds in many stocks, mostly insurance and banking because the banks were quite supportive. With his deposit, he only needed to fill a teller to subscribe to a share offer and a courteous attendant was always at hand to help with the filling. He was offered the opportunity of using his deposit and shares to obtain additional loan to buy more shares, an enticing opportunity he found hard to reject. He found a new hubby, picking up the vocabularies of the investing world from the news media, fliers, subscription documents and the plethora of investors’ fora. The daily reports of the stock market activities by the news media became his daily staple. At the Nigerian Stock Exchange (NSE), the imposing building on Customs Street, Lagos Island, where shares are traded, it was a celebration of milestone after milestone. The NSE was, and still is, Nigeria’s only stock exchange and its activities were directly related to the booming share-offering market. The NSE and the Securities and Exchange Commission (SEC), the regulator for the capital market, work closely. The SEC regulates the entire market, including the activities of the NSE - the secondary market that typically serves as the face of the market, and the primary market - the introductory segment of the market where shares and other investment units are first sold to the initial investors. The NSE, a self-regulatory organisation (SRO) that predates SEC, has a sense of independence. Established in 1960 as the Lagos Stock Exchange, in many instances, the top management at SEC cut their teeth at the NSE. Typically, a company or issuer will apply to SEC to float its offer for purchase by the investing public. The issuer will then apply to the NSE for approval to list its shares or units for trading on the secondary market after the completion of the offer. So, it was a positive correlation, as the primary market was booming, the secondary market was booming and the incomes of the regulators were also on the rise. The regulated and regulators literally came into the frenzy. The few words of caution were drowned by assurances from all stakeholders, including the Cen-

tral Bank of Nigeria (CBN), the mother - figure for the financial markets whose banking consolidation and recapitalisation success depended on the booming market. At the NSE, a self-proclaimed not-forprofit organisation, it was also the period for distribution of multi-million naira surpluses and largesse to executives and council members. A 2010 annual report and accounts of the NSE indicated that N1.39 billion was distributed to certain council members as share of surplus between 2006 and 2008, which the report regarded as illegal and a contravention of the Companies and Allied Matters Act 1990. When the lid blew off, some beneficiaries quickly refunded N607 million. The contention over the outstanding balance of N783.8 million is a subject of litigation. Joining the frenzy, the NSE in 2004 incorporated NSE Consult Limited, which commenced business in 2005 with principal objectives of serving as consultants, financial advisers and analysts and to carry on business as the investment and private sector arm of the Exchange. Few years after, the company became moribund and was provided for as such in the 2010 report.

A portfolio of shared stories Adewole marked his second anniversary of stock market investing in 2007 with a tally of his portfolio-basket of shares, by multiplying the volumes of shares with a newspaper report of closing share prices for the previous day. With just about N2 million, his investments had notched up to about N8 million. He was confident he had joined the much-revered millionaire’s club. He had heard of the millionaire capsules from a raving personal finance print, which was devoted largely to stock market investment and promotion of group investing. Then, things unfolded. Everything happened so fast between 2008 and 2009, his portfolio had dropped to barely a million naira; some were completely wiped off by government intervention and the remaining ones had lost substantial volume and value. The stories were similar, with little variance depending on the entry point or year and spread of investments in the market. Shehu Mikhail, who has been investing in the stock market for more than three decades, recalled how he lost a large chunk of his investments to the meltdown. “I started investing in the capital market in 1982. The market was not well known then. All through this period till late 90s, many people were not aware of trading in the stock market. But as the market was becoming buoyant and portfolio investors were coming, the regulators did not keep up with the pace by providing policies that could checkmate activities of speculators, and this led to the meltdown in 2009,” Mikhail noted. He recalled how he had built much hope on his shares in Intercontinental Bank Plc and Ecobank Nigeria Plc, unconscious of the toxic assets driving the valuations then. Mikhail said: “I had shares in many companies. Even before the meltdown, we had suffered from the

THE NATION MONDAY, MAY 18, 2015

… Still licking the wounds of meltdown

‘

People make mistakes and they fail to understand the market. When shares are going up, that is when people rush to buy. But when shares are down, they rush to sell. Whereas, the best time to buy shares is when prices are low •Fidelis

•Mrs. Bankole

mergers and acquisitions brought by the consolidation policy introduced by the CBN. The mergers and acquisitions were not favourable to shareholders of the small parties in the arrangements, and that’s one of the failures of the regulators; failure to protect the minority shareholders.” He was at a point having 740,000 shares of Intercontinental Bank, but the shares are less than 50,000 now and the price is nothing to write home about. He had a somewhat similar experience with Ecobank Nigeria Plc where he had some 640,000 shares but couldn’t even figure out the total shareholding now. Intercontinental Bank was one of the banks that were taken over by the regulators in the post-meltdown shake-down of the banking sector. In the process of the restructuring, a share reconstruction cancelled millions of shares and the bank was eventually acquired by Access Bank, in a deal widely regarded as a similitude of the hyena devouring the tiger. Intercontinental Bank opened in 2009 with total paid up shares of about 19.5 billion ordinary shares of 50 kobo each and total assets of about N1.4 trillion. Access Bank then had 16.14 billion ordinary shares of 50 kobo each with total assets of N1.04 trillion. That was shortly before the August 14, 2009 intervention in the banking sector by the CBN. By the completion of the post-intervention restructuring and reconstruction in 2012, only five billion ordinary shares of Access Bank were given to shareholders of Intercontinental Bank. Access Bank, the bigger bank, opens today at N6.18 per share. Access Bank had opened 2009 at N23 per share, few kobos below its 2007 high of N23.03. Intercontinental Bank had opened at its 2007 high of N40.60 per share. Ecobank Nigeria was later acquired and absorbed by its parent company, Ecobank Transnational Incorporated (ETI), after the latter had acquired additional stakes that violated the minimum public float for continued listing of Ecobank Nigeria on the NSE. Alhaja Masiat Adebisi Bankole, 77, is a retiree. She recounted how she started buying shares in the 70s, building up her nest eggs bit by bit. She said: “I was buying the shares then as I got the money, I was investing like N200, N150 and buying the shares as much as I can afford then before they all appreciated. I bought my First Bank shares (pointing at the First Bank’s shares in her Central Securities Clearing System (CSCS) statement to the reporter) in 1989, then they grew with addition of bonus shares, the bonus shares were so

much then and at a point, the value of my First Bank’s shares alone was above N500, 000. Now, it has come down drastically,” Mrs Bankole said. In 2007, First Bank was traded at N57.41 per share and its lowest price then was N32. It has since struggled below N10 per share. But despite the state of things, Mrs Bankole said she has seen the value of investing and understood the challenges. She came to the annual general meeting of Unilever Nigeria last week with her daughter. She attended a similar meeting by Wema Bank some days ago. “The meltdown made the market to be unattractive but as a longtime shareholder, one just has to continue to pray for the recovery of the market and we are grateful now that things are becoming stable,” Alhaja Bankole said. Mr. Ijoma Fidelis, a retiree from Delta State, has seen the good and bad sides of the market. He has since learnt the tricks of value investing. “I put in 30 years of service in public service. Now I am retired. I have bought my shares long time ago. It’s now that I have to live on the shares that I bought during the active days while I was working,” Fidelis said, clutching a copy of the 2014 annual report of a fast-growing consumer goods company where he has investment. While decrying the sharp practices and shabby treatment of shareholders, he recalled how investing in Nestle Nigeria has turned into a goldmine. Fidelis said: “Nestle Nigeria is one of the companies that people have benefitted largely from. At

•Adisa

the time we bought Nestle shares, it was not selling even at N5, but today, it is a very big stock. That’s all about share buying. You buy in order to realise value.” As a long-term investor, he knew his onions. “People make mistakes and fail to understand the market. When shares are going up, that is when people rush to buy, but when shares are down, they rush to sell. Whereas, the best time to buy shares is when prices are low,” Fidelis paraphrased one of the maxims of value investing. Nestle Nigeria has defied the boom and burst cycle. While it traded at a high of N347.14 in 2007, it has since rose beyond the N1, 000 mark. It opens at N900 per share, N250 below its 52-week high of N1, 150. Also, Mr. Yekinni Adisa, who started investing in the capital market in 1972, said though the meltdown turned back the hand of the clock for most shareholders, they have shrugged it off and now focused on how to avoid such experience in future. His losses were mitigated by the spread of his investments and some other non-stock investments outside the stock market. “The meltdown really affected most of us who had been long-time investors; like a person having N10 million worth of shares and it gradually reduced to N500, 000. It was a bad experience. But, thank God, the market is recovering,” Adisa said. He continued: “I thank God that all my investments were not in one way then, all my eggs were not in one basket, I spread them over. Besides, I still had investments outside the capital market; that one

‘

helped me a lot.”

Pumping up the burst The road to the 2008-2009 meltdown was laced with intrigues, deceptions, greed, mistrust, gross dereliction, ignorance and bandwagon effect. The stock market turned into this century with a confident gait, sustaining a streak of consecutive appreciation. The All Share Index (ASI), the composite valuebased index that tracks prices of all quoted equities, initially evidenced the attractiveness of the market as Nigeria notched up favourable ranking as emerging market. But, between 2003 and 2007, the years of banking consolidation and recapitalisation, it was evident the stock market was under undue influence other than ordinary market dynamics. At the peak of the rally in 2007, the ASI indicated average fullyear return of 74.73 per cent. It rode on the waning momentum to reach all-time high of 66,371.20 points in March 2008. Several reports have shown that market operators, driven by recapitalising banks, were engaging in the unethical practice of “pump and dump”, a market manipulation method in which unscrupulous stockbrokers, and sometimes with the active connivance of the issuer and other professional parties, conduct round-tripping purchase and sale transactions to push up prices and whet public appetite for a stock. Since such pricing is not based on fundamentals, natural corrections will follow and the stock price will crash once the “pump and dump” reaches its extreme. Forensic investigation by SEC later discovered that banks particularly, directly and indirectly, encouraged

Stocks

2007 High(N)

Current High(N)

NAHCO 70.05 7.26 RT Briscoe 34.54 1.18 Dunlop 8.94 0.50 Access Bank 23.03 10.18 Afribank 36.89 0 Diamond Bank 22.78 7.05 Fidelity Bank 12.71 2.27 First Bank 57.41 15.02 FCMB 18.88 4.64 GTB 37.96 31.88 (Stanbic) IBTC 20.94 35.00 Bank PHB 35.26 0 Skye Bank 17.80 3.80 Spring Bank 7.16 0 Sterling Bank 10.10 2.54 UBA 57.75 8.26 Union Bank 50.33 11.74 Unity Bank 8.89 4.75 Wema Bank 15.00 1.21 Zenith Bank 68.97 25.80 NB Plc. 51.90 189.00 Guinness 142.00 214.98 Ashakacem 84.89 34.70 CCNN 38.66 15.98 Wapco 80.00 136.73 NCR 5.44 15.20 PZ Cussons 38.80 39.00 Transcorp 9.71 7.08 UACN 51.60 67.85 Unilever 23.00 55.00 Costain 23.13 1.55 Julius Berger 95.01 76.45 7-Up 54.60 188.52 John Holt 5.80 Dangote Sugar 56.00 10.21 Flour Mills 85.68 73.55 Nascon 31.20 13.48 Nestle 347.14 1150.00 Evans Med 9.15 2.70 GSK 28.00 56.00 May & Baker 16.00 2.01 Aiico 5.29 1.24 Continental Re 5.37 1.24 Cornerstone Ins 4.99 0.59 Custodian Ins 4.83 4.41 Mutual Benefits 5.60 0.56 NEM 6.32 0.90 Niger Ins 6.70 0.54 Royal Exchange 6.00 0.63 Unic Ins 5.39 0.50 Japaul 8.00 0.72 Forte (AP) 207.00 216.62 Conoil 89.10 79.51 Eterna 22.00 5.35 Mobil 198.00 182.00 Oando 122.60 36.89 Total 195.00 195.50 UPDC 30.00 18.46 ETI 300.98 24.55 N.B: Current high represents the highest price in the past one year “pump and dump” to prop up their shares in order to enhance the attractiveness of their offers. During this period, the NSE used to place stocks undergoing public offer on technical suspension, which entails the freezing of the share price while trading continues on the shares. In a bid to create huge discount to offer price, the issuers were then pushing up their share prices before requesting for technical suspension. Such inflated share price was then used in valuation and marketing of the offer. Besides, banks and other financial services companies fuelled a large asset bubble with poorly structured margin loans. As banks were raising funds in the capital market, they were actively using depositors’ funds to create margin loans, which collaterals were also their shares. In 2007, new issues peaked at N1.3 trillion, underlining how the margin-based primary market laid the foundation for asset bub•Continued on page 51

THE NATION MONDAY, MAY 18, 2015

NEWS Military attacks Ezekwesili

•President Jonathan carrying a baby being admired by First Lady Patience during their visit to the Children's Church at the Aso Villa Chapel in Abuja ... yesterday. With them is Executive Secretary, Nigeria Christian Pilgrims Commission, Mr John Kennedy Opara. PHOTO: NAN

First Lady: strange ailment gone after Jonathan’s loss Continued from page 1

God has made it possible; two of us are going home healthy. “At the same time this year, when my husband was campaigning, that campaigning time was a trial for me. Satan came in again and those that know the former president and his wife, her corpse was carried out of this place. We thank God that I and my husband are going alive. “Thank God today we are parting alive and not with death. Our doors are open. This campaign period, devil struck and came in again. In pains I was rushed to the hospital in January and the doctors told me, ‘mama you have to go for major operation now now’. The campaign was still going on and I wondered how we were going to explain to Nigerians. “You know even when you go for check-up, they will be writing ‘in newspapers, saying all sorts of things. I went in for the first major operation in January ending. And by God’s grace I went for the operation and came out and it was from that operation that I went to the campaign ground. And they told me ‘mama, there is another bigger operation that you have to go in for’.” The congregation was quiet as Mrs Jonathan spoke. She went on: “This one will not be in this hospital. It is too small for this type of operation. You have to go to a bigger hospital and I said ‘ah aha’. I will go, I have faith in God. And that my God will see me through. He has brought me out for a purpose. I called my pastor to continue praying for me. They want me to be a sacrifice, but I will never be. “Then, do you know I went to the bigger hospital. I booked for the operation and I was asked to go for the campaign. They gave me a new date. I had paid for everything, remaining just to enter the theatre and the thing occurred to the hospital to check me again. “By then, my husband had lost the election. I have packed out of the Villa, we are about going. Behold! I went to four hospitals again and the thing vanished. My

doctors were surprised, they didn’t think that could happen. Doctors say we can go.” She also recalled that she had two years ago undergone 12 surgical operations abroad and that she was divinely given a second chance to live. “I thank God for keeping me alive today. God is so wonderful. Just two years ago, I went through operations upon operations. Within one month, I passed through 12 operations; it is wonderful. To some people, they said she is dead but God resurrected me. God told me, ‘my daughter, go back, I will give you second chance, go and finish your work’. “And today, if my husband lost this election, I believe God has made me finish the work.” Mrs Jonathan said she was full of gratitute to God because she never thought or dreamt of being First Lady or deputy governor’s wife. “I never thought in my life that I will be first lady. I never dream of being wife of a deputy governor because my husband was not a politician. But God made it possible and God lifted us up from deputy governor and here we are.” Continuing, she said: “We should be grateful to God for what he has done. To me and my family, we praise God. To our followers, today it might not be too good but I want them to be grateful to God because you have followed us for a long time from deputy governor, governor, vice president, president. “You know this position is not a life thing. There is no permanent thing; so, I want you to take it in good faith that it is the will of God and you should be praising God. God is really wonderful. That is for the political side.” Jonathan, who noted that no system, including his administration, is perfect, urged Nigerians to forgive him in any way he may have erred. He said: “No system is perfect. Every human system must have an element of imperfection. For the period of eight years that we have been here. I will take the period as a block because my transition from VP to President was gradual and complicated. It was intertwined, so, you can-

not actually draw the line. “Because when the President was challenged within major health issues, I was running the country for sometime, even before the doctrine of necessity made me as acting president. Then I took over at first and conducting the 2011 election I won and I had to run my full four years as an elected president. “So for the eight that one has been there, definitely one is not perfect. We have certainly done things that probably we wouldn’t have done that way, but we didn’t do things deliberately. So for those who we have offended, it was not deliberate, it was circumstances of the office. “So we also plead that those people should forgive, we think we have done our best. You can do your best and your friends may misunderstand you. Today we are talking about leaving. It is only God that knows why things go the way they do.” Thanking all those who stood by him during his tenure, Jonathan said: “We came in as vice president and my wife, today we are leaving as the former president and former first lady. We have achieved it through you. Let me specifically thank the chaplain, the clergymen, the pastors and their wives. “For the past eight years, we have every reason to be thankful to God. Every individual has his/her own calling. I also believe that people who take over political leadership have their own callings to do specific things. No one, head of a government, be it at the national level or the sub-regional levels can do every thing. “But when you leave, you will want to do something to show that yes I was here. The chaplain has said that nothing is perfect; if you wait for perfection, you cannot achieve anything.” “Ordinarily 24th of May would have been the last service here. But that 24th, we will all go to the National Christian Centre for the inauguration service. So, for me and my wife, this is our last day of worship here. “Though we are leaving as president and first lady, but

we have not left you, because we are still in this country; we will continue to interact one way or the other, probably along the line we may even come closer. I believe some of you may even come closer, and even do more meaningful things together when we leave office.” Stressing that the office of the president is quite challenging, Jonathan said he did not believe that it is only in government somebody can excel. His words: “I don’t really believe that it is only in government that you can do things; even outside government you do a lot of things. The richest people in the world don’t even serve in government. Dangote has never been in government, so you don’t need to be in government to be rich. Bill Gates has not been in government. So outside government a lot of things happen, it is for us to be committed and continue to be focused. Me and my wife really love all of you.” In his short message titled “To Him be the glory”, the Continued on page 60

Buhari drops Gen. title

campaigning for the girls’ release. But the Defence Headquarters (DHQ) has taken exception to the campaign. Defence spokesman Gen. Chris Olukolade, in a letter to the former minister – copies were sent to other coordinators of the BBOG group, including Mrs Hadiza Bala Usman and Mrs Bukky Sonibare – accused Mrs Ezekwesili of monitoring a hate campaign. “Indeed, there is still room for more merciful and robust engagement or interface between you and the government and security agencies in the drive to secure the return of our girls. Enough of undue hate campaign and antagonism,” he wrote. The DHQ denied that the military was engaged in propaganda. Gen. Olukolade said: “I have followed your activities with due interest. I personally have nothing against your organisation or its advocacy concerning efforts to recover our girls from captivity of terrorists. I believe that someday, both your efforts and that of the Nigerian military will be duly understood and appreciated. “It is unfortunate that some have sought to equate our efforts to give accounts of activities on the nation’s war on terror as propaganda or cover-up. This is not true. We know the difference. “The fact is that the battle situation around could be very fluid and susceptible to rapid changes. The situations around the battle could also change accordingly in an inexplicable manner. “This trend is also compounded by various perspectives that have been employed to seriously polarise the understanding of the situation along the line of all kinds of sentiments and biases prevailing in the environment. We cannot engage in a shouting match with those who have other motives. We can only try to explain situation to the best of our understanding and available information. “The report we present on situations are based on the available information and observance of the elements of

Continued from page 1

propriety, security, policy and accuracy, which has remained our guiding principles. It is really not true as you have been made to assert repeatedly that the Defence Headquarters and myself are the only sources of information on the operation.” He said the group’s sweeping statement on the activities of the military in the Northeast was in bad faith. “The sweeping judgement and insistence that we must do things in a particular way or your claim that we do not follow best practices as well as your remarks comparing our approach to that of other armies is very unfair. “ Indeed, you must know that no two military operations are the same, and the conduct must endeavour to reflect the realities and peculiarities being confronted in the field. “Your allegations or claim that we lack transparency is definitely not well informed neither is it being expressed in good faith.” On lack of access to mission areas, the DHQ spokesman said no one was being prevented. Gen. Olukolade said the military was however concerned about the safety of those seeking information. He said: “Be assured that nobody has been restrained from accessing the mission area in the ongoing operation except when there is clear case of undue interference with safety and operational environment. Infact, occasionally, we conduct the media on tour of the operational area. “Our concern remains the issue of safety for anyone in search of information. Much as we want to assist genuine seekers of information, we do not feel obliged to devote scarce resources to satisfying the fancy of pleasure seeking adventurers or the curious and mindless critics who just want to roam around with questionable motives. “ We should not be blackmailed into compromising the security of information and operations in the name of undefined idea of transparContinued on page 60

OFFICIAL PORTRAITS OF PRESIDENT-ELECT, VICE PRESIDENT-ELECT

RESIDENT-ELECT Muhammadu Buhari is to drop the title General from his name from May 29. A statement by the Director, Directorate of Media and Publicity of the President-elect, Mallam Garba Shehu, also released the official portrait of the President-elect and theVicePresident-elect Prof. Yemi Osinbajo. “From May 29, 2015, the President-elect and VicePresident-elect are to be known and addressed as Muhammadu Buhari, President, Commander-inChief of the Armed Forces, Federal Republic of Nigeria and Prof. Yemi Osinbajo, SAN, Vice President, Federal Republic of Nigeria. Buhari served for 24 years in the military. He enlisted in 1961 and left in August 1985 after the overthrow of his government, retiring as a Major General. •President-elect Buhari

•VP-elect Osinbajo

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08023006969, 08052592524

THE NATION MONDAY, MAY 18, 2015

NEWS APC disowns ministerial list in circulation

HE All Progressives Congress (APC) has described the ministerial lists currently being circulated, especially on the social media, as a mere fiction. “Nigerians should disregard these lists and await the authentic list, which will be communicated through the appropriate channels at the right time,” its National Publicity Secretary, Alhaji Lai Mohammed, said in a statement in Abuja yesterday.

•Party advises media to clarify stories The statement appealed to the media to clarify with the authentic officials of the party and the Buhari Campaign Organisation any issue having to do with the actions of the President-elect to avoid presenting falsehood as facts. The party said the appeal became necessary following recent media reports on the actions, which the Presidentelect would purportedly em-

bark upon once he is sworn into office. “Various people have been quoted in the media on what the President-elect will do or will not do once he assumes office. The truth is that these people do not speak for the President-elect. Hence the need for the media to clarify such issues with the Chairman of the party, its National Publicity Secretary or the spokes-

man of the Buhari Campaign Organisation. These officials are always available to clarify issues,” it said. APC said the ongoing transition is a delicate period that fifth columnists could capitalise on to cause disaffection or overheat the polity. It called on stakeholders to be extra-cautious and to put the national interest above all other interests.

PDP‘ll not change identity, says Metuh •Aliyu: we‘re still soliciting Kwankwanso’s return

HE Peoples Democratic Party (PDP) yesterday said it is not contemplating a change of identity despite losing control of the Federal Government and some states in the last general elections. It added that the vision of its founding fathers remained timeless in building a nation of collective wish and aspirations of all citizens. Its National Publicity Secretary, Olisa Metuh, who said this in a statement yesterday, insisted that the PDP “is still the truly national political party with strength and spread enough to regain preeminence”. Metuh noted that having been “the guardian of Nigerian democracy for 16 years”, the PDP “will not in the circumstance of ephemeral loss of power change its identity or its time-honoured characteristic values”. The party said though it is resolutely committed to its present structures, it would not close its doors to other political parties wishing to be assimilated into its fold as the best vehicle for the fulfillment of political aspirations of all citizens, regardless of tribe and religion. The statement said: “We have a name, tradition and values. Sixteen fruitful years as the guardian of Nigerian democracy cannot be nullified by the reason of temporary setback. We shall rise beyond all and regain our rhythm. Our colour remains green, white and red and

•Speaker of the ECOWAS Parliament, Senator Ike Ekweremadu (right) with the Vice President of the ECOWAS Commission, H.E. Toga McIntosh, at the opening of the 74th Ordinary Session of the ECOWAS Council of Ministers in Accra, Ghana...at the weekend.

From Sanni Onogu, Abuja

power still belongs to the people. And to assert that we are proud of the successes of our successive leaders in taking Nigeria to its present height is an understatement, which the passage of the next four years under the APC will certainly prove.” It added that the fact that the PDP was going into opposition would not mitigate its ability as the flagship of democracy, adding that it “will soar higher in proving credible alternative as a constructive opposition”. The statement also reads: “We have no doubt lifted the banner of democracy very high and only wish that the APC (All Progressives Congress) will move beyond excuses when it takes over in weeks’ time to reconcile mouthful promises with the reality of fulfillment. We have not only laid a solid foundation, we have built to a height that no denial can wish away. “We therefore call on all our members to ensure that they are not in any way distracted, but remain focused as the unity, cohesion and regenerative capacity of the PDP is very much intact, election loss notwithstanding.” Niger State Governor Mu’azu Babangida Aliyu has claimed that the PDP was still soliciting the return of Kano State Governor Rabi’u Musa Kwankwaso. Aliyu said this at the inauguration of 108 housing units

built by the Kano State government in collaboration with Urban Shelters Limited in Abuja. In his remarks at the occasion, the governor said he would work to avoid a “clash” with Kwankwanso in trying to gain the PDP’s presidential ticket. He added that many PDP faithful have confided in him that they would only join the APC if Kwankwaso is contesting for president in the 2019 elections. Aliyu said: “Engineer Kwankwaso, I needed to be here because you have proven to be an excellent person and a politician. We have come a long way, except that after four years, you lost your seat and you waited eight years, you were not bitter and you did not give up. That is a sign of those who have faith in God. “You have returned and within the four years, you have done what many of those who were governors in Kano could not have done. You are an active member of Northern Governors Forum. “You are a shadow chairman of the G7 Governors and when I saw the newspapers today, I was very happy that you are so loved that PDP is still soliciting for your return. But above that, I had people who told me directly that they would never go to APC unless Kwankwaso is running for the presidency of Nigeria in 2019. And so, don’t worry about me, I will try to make

Pope seeks unity of churches, families

ATHOLIC leader Pope Francis has canvassed for effective communication within the family and the church to promote the nation’s peace and unity. He said the family as the smallest unit in the society determines the peace and the rate at which the society develops. This was contained in his message to mark the 49th World Communications Day with theme: “Communicating the Family: A Privileged Place of Encounter with the Gift of Love”. The Pope noted that “the family can teach us to understand communication as a blessing in a situation apparently dominated by hatred and violence”. The Director of Communications, Abuja Catholic Archdioceses, Rev. Fr. Patrick Alumuku, who read the Pope’s message during a Holy Mass to mark the day at the St. Martins Catholic Church, Mabushi, Abuja, said it was becoming worrisome that the increased number of churches in Nigeria did not translate to peace

From Bukola Amusan and Kehinde Ore, Abuja

and unity. He urged religion leaders, particularly Christian leaders, to foster unity of faith. The Pope lamented that people now perceive the family as a ground for ideological clashes, saying the media was not helping matter. “At times, the media can tend to present the family as a kind of abstract model or a ground for ideological clashes. Families should be seen as a resource rather than as a problem for society. “It is only by blessing rather than cursing, by visiting rather than repelling, and by accepting rather than fighting that we can break the spiral of evil, show that goodness is always possible and educate our children to fellowship. “The family is not a subject of debate or a terrain of ideological skirmishes. Rather, it is an environment in which we learn to communicate in an experience of closeness.”

Jonathan urged to sign disabilities’ bill From John Ofikhenua, Abuja

•Metuh

sure we do not clash.” Inaugurating the estate, Kwankwaso described the Evergreen Residences as a fully integrated real estate development project undertaken by Urban Shelter Limited in collaboration with the Kano State Pension Fund Trustees. According to him, the project consists of 108 housing units of five and four bedrooms terraces and threebedroom blocks of apartments. He attributed the high rate of housing deficit in the country to increasing population growth and lack of purposeful leadership. Other dignitaries at the event were the state Deputy Governor and Governorelect, Dr. Abdullahi Umar Ganduje, former Head of State Abdulsalami Abubakar represented by former Minister of Sports, Sani Ndanusa, Senator Kabiru Gaya and Emir of Minna Alhaji Umar Farouk. The Minister of the Federal Capital Territory (FCT), Senator Bala Mohammed, was represented by the FCT Director of Mass Housing, Umar Jibril.

HE National Coordinating Chairman and Chief Executive Officer of Federal Civil Service Staff with Disabilities (FCSSWD), Alhaji Iliasu O. Abdul-Rauf, has appealed to President Goodluck Jonathan to sign the Bill of the Persons Living with Disabilities into an Act. Abdul-Rauf said it was important for Jonathan to “complete the humane work he started by signing the bill”, owing to the limited time he has left in office, His words: “I appeal to Mr. President that the glory will not be taken by another person. He has seriously worked towards this bill. We are appealing.” The national coordinator said this while addressing reporters after an extra-ordinary general meeting of Federal Workers with Disabilities Cooperative Society in Abuja. The bill, which the National Assembly has since passed and forwarded to Jonathan for assent, seeks to protect the rights and privileges of people living with disabilities. Abdul-Rauf maintained that the fight to change “discrimination of persons living with disabilities” would continue as plans are underway to see that the incoming administration continues the good work.” He said: “I will meet the incoming administration so that the good work done by President Goodluck Jonathan over the Bill of the Persons Living with Disabilities will be continued by the President-elect, Muhammadu Buhari.” The National President of the National Civil Service Association of Person with Disabilities, Mr. Nkem Uchegbulam, explained that the election of the new board members for the cooperative was successful. He added the board would get the cooperative restructured to continue the centre for rehabilitation projects and other welfare initiatives.

2015 election: Nigeria has proved critics wrong, says Ken Nnamani From Blessing Olaifa, Assistant Editor, Abuja

ORMER Senate President Ken Nnamani has said the country has recorded progress in the past few years notwithstanding the impact of Boko Haram on socio-economic and political development. Nnamani, who spoke as chairman of the National Steering Committee of Nigeria’s Second Peer Review at the Shehu Yar’Adua Centre, Abuja, added that going by the success of the 2015 elections, Nigeria has achieved success and proved critics wrong. He said the three tiers of government have added value to the well-being of the citizenry through the development of infrastructure in the areas of health, education, transportation and provision of other social amenities. He listed the successful conduct of the general elections as part of the success of democratic governance, describing the election as free, fair and credible. In a communique at the end of the validation meeting of members of the Peer Review Committee, participants acknowledged that the flaws that were noticed in the electoral systems in 2008 by the Justice Muhammed Uwais Electoral Reforms Panel had been addressed between 2010 and 2015. The Communique by Nnamani anchored the success of the elections on the commitment of all stakeholders, particularly the Federal Government and the Independent National Electoral Commission (INEC), to democratic growth and development. “It was in this context that the successful general elections were able to produce the first alternation of power in Nigerian history. Following the elections, President Goodluck Jonathan called and congratulated his opponent for winning in a free and fair election and graciously wished him the best of luck. “These elections have entered the annals of African history as an indication of the maturity and consolidation of Nigerian democracy,” the communiqué stated.”

THE NATION MONDAY, MAY 18, 2015

NEWS Aiteo ‘meeting obligations on OML 29’ By Emeka Ugwuanyi

N oil company, Aiteo, declared yesterday that it is delivering on its obligations on Oil Mining Lease (OML) 29. In a statement yesterday, it said the company has good business relationship with the Nigerian National Petroleum Corporation (NNPC) contrary to claims in some quarters. Aiteo started participating in the Offshore Processing Agreement (OPA) with the NNPC three months ago after the company was selected based on its capacity and ability to perform. “The terms of this contract are clear and Aiteo has not breached any obligation in the OPA. Indeed just last Friday, Aiteo had a reconciliation meeting with the NNPC and it was acknowledged that Aiteo is up to date in its contractual performance,” the company said. The Offshore Processing Agreement (OPA) is a process by which the Nigerian National Petroleum Corporation (NNPC) provides crude oil to another party to refine on behalf of the corporation and return the refined products to the NNPC based on the yield slate of the party’s refinery and NNPC pays for the refining and other incidental costs. Aiteo said the OPA is a more costeffective option to the previous regime of crude swaps that the country relied on for petroleum product suppliers. The company said: “Aiteo is a legitimate business that has recently grown its workforce from 400 to 2000 to enable it effectively manage OML 29. Aiteo expects to substantially recruit above this number very soon. “To finance our asset acquisition and operations, Aiteo has raised facilities from a consortium of banks, including Citibank, First Bank, Zenith and Union Bank. These creditors have duly subjected Aiteo to corporate governance and due diligence tests. Detail Commercial Solicitors of England conducted the due diligence on Aiteo, while the legal agreements were prepared by the prestigious firm of Aluko and Oyebode. The allegations of fronting for anyone are baseless. “Any fair-minded reader will note that the Energy Compass report, which was reproduced in the media, is slanted to taint Aiteo with odium in a moment of transition. Aiteo will be taking necessary legal action to contest this unnecessary campaign of calumny against a legitimate business.” Aiteo Eastern Exploration and Production (E&P) Company Limited, a subsidiary of Aiteo Group acquired (OML) 29 and the Nembe Creek Trunk Line (NCTL) and related facilities in the Eastern Niger Delta from the Shell Petroleum Development Company of Nigeria Limited (SPDC) at $1.7 billion.

NAICOM sacks IEI board By Omobola Tolu-Kusimo

HE Board of International Energy Insurance (IEI) Plc has been sacked by the National Insurance Commission (NAICOM), the regulatory body of the nation’s insurance industry. The members of the sacked board - Chief Pat Sule Ugboma (Chairman); Roseline Ekeng (Managing Director/ Chief Executive Officer), Christopher Briggs, Alhaji Shehu Badamasi, Francis Okwedy and Glory Emeh were accused of “financial reporting failures” and board squabbles. NAICOM announced the sack in a statement by its Head, Corporate Affairs, Rasaaq ‘Salami, in Lagos yesterday. The commission said a three-member interim board has been appointed to oversee the affairs of the company while investigation is being conducted.

•Minister of Education Malam Ibrahim Shekarau (second left) inaugurating a project at the Federal Polytechnic, Nekede, Imo State... at the weekend. With him are other dignitaries. PHOTO: NAN

Northeast Reps endorse Gbajabiamila/ Monguno ticket for Speaker

HE struggle for the position of the nation’s number four citizen went a notch higher as the Northeast Caucus in the House of Representatives at the weekend threw its weight behind the Minority Leader of the House of Representatives, Femi Gbajabiamila (All Progressives Congress (APC), Lagos) as the Speaker of the 8th House. They also endorsed Mohammed Tahir Monguno from Borno State as their choice of candidate for the position of Deputy Speaker of the House. Thirty-six of the 48 members from the Northeast Caucus after meeting in Abuja resolved to support Gbajabiamila as the Speaker with a proviso: if the party zones the speakership slot to the Southwest. However, they said they would support Monguno for the Speakership position if it is zoned to the Northeast and that they will abide by the position of the party in whatever its choice is in the zoning of the speakership position. The decision followed a meeting at the weekend in which members from five Northeastern states were present. Briefing reporters after the meeting, Goni Bukar Lawan (Yobe), who spoke on behalf of the Northeast Caucus, said their decision was based on the country’s political re-

‘We didn’t endorse any candidate’

OME members of the Northeast Caucus of the House of Representatives have denied that they endorsed Femi Gbajabiamila and Mohammed Monguno ticket for Speaker and Deputy Speaker of the House. A statement by Binta Maigari and Nuhu Zaki said: “We wish to state here that the caucus has never sat to take a decision on who should be supported by the caucus. “We call on those syndicating such stories to desist from misleading the public. “The Northeast caucus has not taken a decision and people should stop propagating falsehood and lies.” From Victor Oluwasegun and Dele Anofi, Abuja

ality. He said in advanced democracies, when the minority takes over government, the Minority Leader becomes the Majority Leader of the party. “We cannot look for any leader, because even before we took over the government, he was our leader, and today we’re in the position. That’s why we decided to take our leader, Femi Gbajabiamila, to be our Speaker, and for Hon. Mungonu to be our Deputy Speaker by the grace of God.” Speaking on why he jettisoned his ambition to become Speaker in the 8th House, Goni said as a grassroots politician, he had to listen to his governor, who is the party

leader in his state. “We have a project before Yobe State. Senator Ahmed Lawan is pursuing the position of Senate President of this country. In that respect, we cannot have one state produce two candidates; one looking for the post of Speaker of the House of Representatives and another Senate President. “For us, that’s not in order. That’s why after the consultations and discussions, we arrived at supporting Gbajabiamila, when the party zones the speakership to the Southwest.” He added that because of the ambition of both Senator Ahmed Lawan and Mongonu, “whatever position I am looking for, I should step it down. We are now one and all of us are working for the progress of the Northeast.”

The contest for the Speakership has seen claims and counter- claims of endorsements as the 7th House winds down. Munguno and Yakubu Dogara, two serious contenders for the post of principal officers in the 8th House, are from the Northeastern states of Borno and Bauchi respectively. Members-elect from the Northeastern Caucus, who signed the Gbajabiamila/ Monguno endorsement document from Adamawa: Sadiq Ibrahim, Yusuf Buba, Abdulraman Shaibu and Philip Gutuwa. From Bauchi: Muhammed Sani Abdu, Lawal Yahayah, Tata Omar, Isa Hassan Mohammed, Ibrahim Baba, Mohammed Gololo, Salisu Ningi, Musa Aliyu, Ahmed Yarima and Adamu Gupai. From Borno: Mohammed Nur Sheriff, Mahmud Lawan, Mohammed Sanda, Dr. Asabe Bashir, Mallam Bukar Gana, Abdulkadir Rahis, Ayuba Mohammed Bello, Mohammed Tahir Monguno, Jibrin Satumari Those from Gombe are Khamisu Ahmed Mailantarki, Binta Bello, Ustaz Yinus, Umar Barambu and Ali Isa JC. Members-elect from Yobe: Goni Bukar Lawan, Khadija B.A. Ibrahim, Ismaila Gadaka, Yau Galadima, Sidi Yakubu and Sabo Garba

Senate Presidency: EFCC not after Saraki, says aide

PECIAL Assistant to Senator Bukola Saraki on Media Affairs Mr. Bamikole Omishore said yesterday that contrary to insinuation in some quarters, the Economic and Financial Crimes Commission (EFCC) is not in any way after the former Kwara State governor. Omishore said the clarification became necessary following alleged plan by some people to tarnish the image of the lawmaker. He said those behind the plot were those opposed to Saraki’s towering position in his quest to clinch the position of the Senate President when the Eight Senate is inaugurated in June. Omishore, who spoke in Abuja, said Saraki’s detractors have started parading fabricated documents aimed at misleading members of the public. He noted that the purveyors of the false document claimed that the EFCC had perfected plans to re-

From Onyedi Ojiabor, Assistant Editor and Sanni Onogu, Abuja

open fresh fraud allegation against the senator. The aide said those behind the plot were always coming up with unfounded allegation of financial fraud against Saraki whenever he (Saraki) comes out to contest any election. The same trick, he said, “is also employed by Saraki’s political opponents whenever he (Saraki) exposes fraudulent dealings of powerful individuals in the country”. Omishore described as immaterial and belated, the latest “fabricated and false” information alleging that the EFCC is planning to reopen fresh fraud charge against the lawmaker. He insisted that relevant security and other relevant agencies had since cleared Saraki over the false claim allegedly involving him as a director of the defunct Société

Générale Bank. He also said the same agencies had also cleared Saraki over what he described as frivolous petition against him on his tenure as Kwara State governor from 2003 to 2011. The legislative aide added that the police and the Office of the SolicitorGeneral of the Federation had since 2012, absolved and cleared Saraki of any criminal allegations. Omishore added that to the best of his knowledge, there was no case currently involving Saraki and any anti-corruption body. He noted that the allegation of financial fraud being played up against Saraki by detractors, started since 2003, few years into the former governor’s first tenure in Kwara State. Saraki, he said, had to waive his immunity when he was governor to allow the EFCC officials to investigate the allegations and petitions against him. The aide said it was on record that

the anti-graft agency found the petitions to be lacking in merit or substance after it concluded its investigation. Omishore said: “In September 2006, the EFCC chairman then, appeared before the Senate and named Saraki’s administration as one of the five state governments with the highest level of integrity in Nigeria. “The issue was laid to rest until 2011 when Saraki, on the floor of the Senate, incurred the wrath of a cabal in the Nigeria’s oil and gas industry when he exposed their alleged monumental fraud.” Omishore noted that the oil thieves had since then been deploying different tactics to witch-hunt Saraki. He said: “The oil thieves decided to connive with some people in government to turn a civil issue between the senator and a bank customer into a criminal matter”, which was investigated by the Special Fraud Unit of the Nigerian Police.

THE NATION MONDAY, MAY 18, 2015

NEWS

Your policies are threatening, APC tells Fayose

HE All Progressives Congress (APC) in Ekiti State has accused Governor Ayodele Fayose of implementing policies that threaten the development of the people. It said his rice gift token is a deliberate and callous incentive to lock people out of government-promoted self-sustaining schemes. The party also accused the governor of failing to pay workers 192 hours after he made the promise to pay in 24 hours. A statement by the Publicity Secretary, Taiwo Olatubo-

From Odunayo Ogunmola, Ado Ekiti

sun, regretted that instead of promoting policies that would take poverty out of Ekiti, the governor was busy diverting the attention of the people from self-sustaining schemes. “The governor is being wicked to the people by distributing one kilo of rice to the few millions living in abject poverty. “This is coming at a time that more purposeful administrators are setting up selfsustaining schemes that per-

manently address poverty among the masses. “Distribution of a ‘congo’ of rice to the people at this period when he cannot pay salary is a wicked diversion of their attention from problems that confront them daily. “ He is restricting their entrepreneurial skills and turning elitist into beggars. “Is it rice they will use to pay their children’s school fees and meet their other needs? “Is the life of an elitist person now permanently reduced to rice alone?” Olatubosun accused the gov-

ernor of refusing to address the security situation in the state, which, he said, had scared away many investors and petty traders. “Instead of creating a secured atmosphere to allow businesses thrive, he is busy distributing rice to a thoroughly abused people. “It should not be forgotten that the governor’s personal security vote is N200 million monthly. “The last time he distributed rice to Ekiti people was in December, when he gave them the same measure of rice and

three-month-old fowls for Christmas. “Fayose has turned Ekiti people to a tribe of hungry people who need nothing other than taking care of their stomachs once in four months,” Olatubosun said. The APC spokesman said the dehumanisation of Ekiti people must stop. “It is the restoration and promotion of Ekiti core values of hard work, honesty and thirst for self-fulfillment and development that should be the driving force of a genuine lover of Ekiti people.”

‘Buhari ‘ll fulfill his promises’ By Leke Salaudeen

•From left: Deputy Director News Federal Radio Corporation of Nigeria (FRCN) Ibadan National Station, Pastor Dare Olorunfemi, Oyo State Commissioner for Information, Prince Gbade Lana, Zonal Director FRCN Ibadan National Station, Mr. Oyetunji Ogunwale and Special Adviser to Oyo State Governor on Media, Dr. Festus Adedayo, at the FRCN, Ibadan National Station's Staff Appreciation Day...at the weekend.

HE Deputy DirectorGeneral (Operations) of the All Progressives Congress (APC) Presidential Campaign Organisation, Senator Olrunnimbe Mamora, has pleaded with Nigerians to keep faith with President-elect Gen. Muhammadu Buhari. Mamora said the clarification made by the Presidentelect that Nigerians should not expect quick fixes should not be interpreted as reneging on his campaign promises. He said: “Gen. Buhari will rule by due process. All programmes and policies have to pass through legislative process. “Besides, the rot and colossal impunity entrenched in the system by the Peoples Democratic Party (PDP) in the last 16 years have to be cleared. “To get things functional in accordance with due process will take time. However, the commitment of the in-coming administration to good governance, emancipation of the people, new order, rebuilding and restoration of hope is not in doubt. “My knowledge of Buhari is that he is a very sincere person. He was just being sincere. We know the expectation is very high, Buhari won’t disappoint. You can’t fault his sincerity, commitment and moral authority.” On the reluctance of the outgoing government to provide information demanded by the APC Transition Committee, Mamora said it is not in the interest of the country because the incoming administration needs to know what is on ground, to plan the execution of its programmes.

Nine policemen promoted From Leke Akeredolu, Akure

NDO State police spokesman Wole Ogodo and eight others were at the weekend decorated with the Deputy Superintendent Police (DSP) rank by the Commissioner of Police, Isaac Eke. The others are B.J Olatona, Oluwole Ojo, Bamidele John, Ahmed Buba, Ayodele Arike, Obawole Kehinde, Nuga Rasaki and Ayandokun Yemi. Eke warned them that the Force would not tolerate any act of indiscipline. The commissioner said the Inspector General of Police, Solomon Arase, found the newly promoted officers worthy of the elevation. “This is a regimental force and their elevation goes with a lot of criteria, which had to do with merit, commitment and diligence. They have been found worthy hence their promotion.”

Ekiti PDP elders’ forum faults chairman’s sack

HE Elders’ Forum of the Peoples Democratic Party (PDP) in Ekiti State has condemned the removal of the party chairman, Idowu Faleye. The party elders said Faleye’s sack by a section of the State Working Committee (SWC) was hasty and did not follow the party’s constitution. Faleye was removed last week on the grounds that his appointment breached the constitution as he hails from Ido Ward with the state youth leader. Faleye’s traducers claimed that two individuals from the same ward cannot be in the SWC’s as the scenario runs contrary to the PDP constitution. He was also accused of inefficiency and failure to summon SWC meetings since he was appointed to replace the former chairman, Makanjuola Ogundipe, who is now the party’s National Vice Chairman (Southwest). Faleye was replaced with the party’s

•He’s gone for good, says new chairman From Odunayo Ogunmola, Ado Ekiti

Vice-Chairman (North), Olatunde Olatunde. Faleye, who is an ally of Governor Ayo Fayose, said he remains the party chair. He traced his “travails” to his refusal to approve N11 million honorarium for SWC members. But the Ekiti PDP Elders’ Forum, which met at the weekend, threw their weight behind Faleye. They declared his removal as “null and void”. In a statement yesterday conveying the decisions of the forum which was signed by a member of the PDP Board of Trustees, Clement Awoyelu, the elders passed a vote of confidence in Faleye, who they insist remains the party chair. The elders said it was “absolutely wrong and unexpected” of Olatunde to

have declared himself chairman. They said a meeting was held with the aggrieved members where it was resolved that the matter should be resolved amicably. The Forum warned the Olatunde-led faction to tread softly and avoid anything that could witch hunt the “legally installed party chairman”. Admitting that the bone of contention is the controversial N11.2million unpaid honorarium to the SWC members, the elders promised to meet Fayose on the need to assist the party financially. They agreed with Faleye that the governor as the leader of the party should be briefed on all party activities, including its financial matters. Olatunde said Faleye has been removed for good in defence of the party constitution and party supremacy.

‘Blame governor for kidnap’

HE Action Group of the All Progressives Congress (APC) in Ekiti State has said Governor Ayodele Fayose should be held responsible for the spate of kidnappings in the state. The group, through its spokesperson, Segun Dipe, recalled how Fayose through his media goons had earlier threatened to make the state inaccessible for the 19 APC lawmakers. Dipe also recalled that the APC lawmakers had equally raised the alarm over a plot to use a stop-and –search security operation to arrest them. “We have a governor who is not afraid to do any evil. We have a governor who is impunity-personified. We have a governor who ‘rears’ thugs and has turned the state to a nest of killers. We have a governor who barricades all entry points into Ekiti State at will. “We have a governor who will whip up all forms of lies against those who call him to order. And we have a governor whose past points to the fact that he can kidnap and kill. So what other proof does the police or any security agency need to look at his direction for the culprits.”

Urgent reforms needed, says don From Tayo Johnson, Ibadan

IGH rate of unemployment, especially youth unemployment, have called for urgent reformative actions,a lead specialist on social protection, World Bank, Prof Foluso Okunmadewa, has said. He spoke at a lecture entitled:” Employing the Unemployable in NigeriaEvaluation of Public Actions and Emerging Lesson” at the third Grace Foundation Day Lecture and 10th Anniversary of the foundation, held at University of Ibadan (UI). According to him, the renewed urgency to tackle the issue of unemployment in Nigeria stems from redundancy, violence, kidnapping, and other vices. Okunmadewa said the level of unemployment should not be so, judging from the high growth rate in the economy that averaged 7.8 per cent in 2011. The don said increase in GDP should bring about an increase in employment.

Why kidnappers are busy in Ekiti, by Falana

AGOS lawyer Femi Falana has taken a swipe at the Ekiti State government, saying it is responsible for the spate of kidnappings in the state. In a statement yesterday, the fiery lawyer said: “Last week, Governor Ayo Fayose was reported to have sent a Save our Soul (SOS) to the Inspector-General of Police, Solomon Arase, over the spate of kidnapping in the state. “I ‘m compelled to point out that the government has itself to blame for deliberately providing official cover for armed gangs and other criminally minded individuals, who have taken over the monopoly of violence in Ekiti State. “For instance, the House of Assembly complex has been occupied by hoodlums since November with the connivance of the state government.

“In this atmosphere of impunity, the well known armed thugs operating in Ekiti State have been granted immunity by the Federal Government. “Hence, police officers are under strict instructions not to arrest or prosecute them. “Recently, a commissioner of police, who was determined to rid the state of crimes, was queried and investigated by the Police Service Commission. “Even though he was not indicted, the commission ensured that he was posted out of the state. “Based on such official endorsement of criminality, kidnappers and other criminal elements have been having a field day in the state. “Indeed, the task of maintaining law and order in the state has been compounded by the six-month old indus-

trial action of judicial workers. “Thus, in the last sixmonths, no suspect has been charged to court. “All criminal cases pending in the courts have been adjourned sine die. I have confirmed that the kidnappers, who made the state ungovernable from 2009-2010 and who were on trial before the Kogi State High Court, escaped from prison during a recent jail break. “Having not been declared wanted, the criminals are alleged to have resumed the nefarious business of kidnapping. “It is on record that Ekiti has consistently witnessed politically motivated killings since 2003. “To the credit of the police and the Department for State Service (DSS), all the suspected murderers and their spon-

sors were nabbed and charged to court at various times. “But apart from the killers of two students who were convicted in 2005, the suspected killers of Tunde Omojola, Ayo Daramola, Kehinde Fasubaa, a Foluso Ogundare and others are walking free in the society due to political pressure exerted on the security agencies. “Since the files of all the murder cases are in police custody, the IG ought to rearrest and prosecute the suspects. “In addition, the IG should prevail on Governor Fayose to realise that as the chief security officer he has enormous constitutional responsibility to maintain law and order. “As a matter of urgency, he should be made to distance himself from criminality and allow the police to disband

•Falana

and disarm the armed thugs, who have been linked with kidnapping. “Finally, the governor should emulate his colleagues who have succeeded in persuading judicial workers to call off their strike. “A state where judges are beaten up by thugs and courts are locked up indefinitely cannot genuinely guarantee law and order.”

THE NATION MONDAY, MAY 18, 2015

NEWS

Omirin, Fayose in ‘popularity contest’

KITI State Speaker Adewale Omirin has “locked horns” with Governor Ayodele Fayose over his popularity rating. Omirin’s Special Adviser on Media Wole Olujobi in a statement yesterday said comparing the governor with former Governor Segun Oni and blaming Omirin for the crisis in the state is turning history to fiction and “unconscionable beatification of the unholy”. But Fayose’s media aide Idowu Adelusi said he would not join issues with Olujobi whose outburst he regards as “that of a drowning person pleading for clemency”. Olujobi said: “It is amusing that Adelusi is talking about his boss winning election twice. “May be he forgot that Nigerians can still recollect the circumstances that gave Fayose victory on the two occa-

Odunayo Ogunmola, Ado-Ekiti

sions. “The first time, Fayose was a beneficiary of a “do or die” political fraud in the South west when he benefited from a mindless rigging coordinated by the Federal Government. “The second time was more daring, with thousands of federal troops seizing Ekiti State to enable Fayose win. “This is apart from the revelations in the Ekitigate tape where Fayose himself said he collected the Independent National Electoral Commission (INEC) soft copies that he printed for the election. “It is baffling that a media aide would come in the open to celebrate these frauds as befitting trophies that must be showcased.” He said subsequent election victories after Ekitigate were natural bandwagon ef-

fects, which had thrown several characters up as Ekiti representatives in the National and House of Assemblies. The Speaker’s aide said Oni’s removal by the court was more honourable than Fayose’s tempestuous administration fraught with alleged multiple frauds and scandals. “The former governor is a man of integrity. His sterling quality and crime-free lifestyle had elevated him to his current position as Deputy National Chairman (South) of the All Progressives Congress (APC). Scoffing at Adelusi’s allegation blaming Omirin for the House of Assembly crisis, Olujobi lampooned the governor’s aide for indulging in reckless misinformation. He said Fayose as a lawless governor authored all the crises that rocked the state since November. “Adelusi’s argument that

Omirin’s absence at Fayose’s inauguration marked the beginning of the crisis holds no water. “Was it Omirin’s absence at the inauguration that made Fayose to send unknown names to the House and expected the names to be cleared same day? “Was it Omirin’s absence at his inauguration that forced Fayose to impose an illegal speaker chosen by seven lawmakers ? Could that explain why Fayose froze the House of Assembly bank accounts and electricity supply cut off from Omirin’s house while his official quarters were locked and his car seized? Is that why the 19 APC lawmakers are being trailed by assassins? “Can we say it was Omirin who advised Fayose to recklessly trample on the constitution over which he is facing a supremacy battle between him

‘Wealthy clerics should be taxed’ From Adesoji Adeniyi, Osogbo

T •Omirin

and the law of the nation.” He advised Adelusi and other aides, who he said appeared more sober than the governor, to always have special counselling sessions with their boss to advise him on civil approach to political issues. Adelusi said: “As a response to his outburst, I will simply refer him to a writeup by Segun Ayobolu on the back page of the May 16 edition of The Nation on Saturday titled: Ekiti Fiasco: Who is to Blame?”

Lagos NUT faults use of CBT in schools

HE Nigeria Union of Teachers (NUT) in Lagos State has said the introduction of the Computer Based Test (CBT) in secondary schools examinations may not achieve the desired result. The state NUT Chairman, Segun Raheem, said this in an interview with the News Agency of Nigeria (NAN) yesterday in Lagos. Raheem said the situation might be so because most of the pupils are not adequately prepared for CBT. He said the pupils are not prepared due to the nonavailability of Information Communication Technology (ICT) facilities and human resources. He noted that Computer Science which, hitherto, was an optional subject and suddenly made a compulsory subject would leave some pupils unprepared for CBT. “Computer Science has just been introduced in secondary schools as a compulsory subject, which is coming rather late. “However, only a few schools in Lagos State have Computer Science teachers and some schools gave temporary appointment to Computer Science teachers. “Others got the teachers through the efforts of the Parents’ Forum (PF),’’ he said. The unionist noted that most secondary schools in the state had a desktop or a laptop, which they used mostly for administrative work. He, however, said only few schools had a fully equipped ICT laboratory. “With the present situation, in my own view, I doubt if the use of CBT is result-oriented for secondary schools pupils in the state. “Except if crash programmes on computer studies and practice is introduced in schools. “This must allow each pupil to have free practice on the computer, if we dont do this, CBT will not achieve the desired aim.

HE son of the late founder of Celestial Church of Christ, Prophet S.B.J. Oshoffa, Olatosho, has called on the government to tax clerics with “stupendous wealth”. He, however, warned against extending the same measure to religious organisations, including churches, mosques, monasteries, among others. Oshoffa said this at a briefing after a three-day revival with the theme “Let There Be Light” held in front of the palace of Owa Obokun of Ijeshaland, Oba Adekunle Aromolaran, in Ilesa, Osun State. He said it is the duty of the government to ensure that funds are mobilised for development of the national economy. Oshoffa maintained that government should not encourage any person hiding under the guise of religion to make money but refuses to support the nation’s growth. The cleric said the Celestial Church of Christ’s emphasis was on salvation of souls not deceiving the congregation with sermons of prosperity. He attributed the victory of the President-elect, Gen Muhammadu Buhari to God, saying God’s eyes were not blind to the suffering of Nigerians.

‘My sacrifice was for democracy’ From Damisi Ojo, Akure

•Former Ekiti State Governor Dr Kayode Fayemi flanked by President, Christ’s School Ado-Ekiti Alumni Association, Lagos Branch, Mr. Yemi Akeju (right) and Deputy Vice-Chancellor, University of Lagos, Akoka, Prof Duro Oni, at the association’s lecture at the Nigerian Institute of International Affairs (NIIA), Victoria Island. PHOTO: RAHMAN SANUSI

Don’t be lenient with labour leaders, Osun workers warn govt C IVIL servants in Osun State have warned the government not to be lenient with two labour leaders Akinyemi Olatunji and Francis Adetunji– over an allegation of fraudulently obtaining N373 million bank loan on behalf of the Association of Senior Civil Servants of Nigeria. It was gathered that the aggrieved civil servants, who have not received their salaries in the last six months, are adamant that Adetunji and Olatunji must be punished. The two union officers, in a letter by the Permanent Secretary in the Civil Service Commission, Kelani O. Adesina, dated April 30, were suspended for allegedly falsifying documents purportedly signed by the former Accountant-General, Mr. G.A Babatunde, to write a letter to a new generation bank on behalf of the government for “awareness and consent letter” for the loan which was received on behalf of ASCSN. The two labour leaders also allegedly forged the signatures of the Directors of Finance and Account and Director of Administration and Establishment of the State Universal Basic Education , Messrs K. Oni and P.O. Awokojo. They also ‘forged’ signatures of the Director of Finance and Account and Director of Administration and Es-

From Adesoji Adeniyi, Osogbo

tablishment R.M. Ajayi and J.O. Abolade in the Ministry of Education, purportedly for letters of consent and irrevocable domiciliation of account. It was learnt that the workers became angry when the National President of the Trade Union Congress (TUC), Comrade B. B. Kogoma and the union’s Secretary General, Musa Lawal, allegedly visited Governor Rauf Aregbesola last Wednesday to plead with the government to lift the suspension placed on the two officials.

The alleged plea, it was gathered, angered workers, who were preparing for a showdown with the government. A source, who pleaded for anonymity, said the government would face a stiff resistance from workers if it gives a soft landing to the two officers. He said the development would send a wrong signal to the public about the government’s position on corruption. “Records have shown that a substantial amount of this loan was shared among the two labour leaders and their cronies.

“We have just given the government a 14-day ultimatum to pay our outstanding salaries. “The reaction that will follow if the governor fails to pay us our outstanding salaries will be child’s play more so if he recalls the two men without carrying out proper investigation. “The Head of Service, Sunday Olayinka Owoeye, must ensure that the integrity and the good image of the civil service is protected in his time. “So, we are waiting for the outcome of the administrative Panel of Enquiry set up by the Head of Service,”the source said.

Fashola praises civil servants AGOS State Governor Babatunde Fashola has commended civil servants for their commitment and dedication to service. Fashola spoke at a send forth ceremony themed “Timeout with BRF…Indelible Footprints” held in his honour by the Body of Permanent Secretaries at the weekend. He said he always feels awkward every time people praised him for being such an exemplary achiever, or attempt to celebrate him. “This is because all I achieved was because of team work. Whatever we celebrate today, we earned it together.

I will only take and share the responsibility for all that we did well. As the team leader, I will take sole responsibility for all that we did wrong. So, the credit must go to all who made contribution to the success we recorded in the state,” he said. The governor praised the All Progressives Congress (APC) for providing the template through which dividends of democracy were provided for the people. In her speech entitled ‘BRF – Indelible Footprints: The Civil Service Perspective’, the Head of Service, Mrs Folashade Jaji, commended the governor for his novel turn-

around of the civil service. “Your style of leadership in every sphere of governance in Lagos, especially from the painstaking commitment to quality service delivery to the application of merit in the appointment of your team members have apparently not only become commendable but also a reference point in sustainable leadership for other public office holders.” She promised that even when Fashola is gone, there would be sustenance of the seamless symbiotic relationship among the key players in the state public service.

FORMER lawmaker representing Akure North/South Federal Constituency in the National Assembly, Ifedayo Abegunde (Abena), has described his “court ordeal” in the last three years as a sacrifice for democracy and rule of law. The All Progressives Congress (APC) chieftain in Ondo State who spoke with after a thanksgiving service at St David’s Anglican Church Cathedral, Ijomu-Akure, thanked God for granting him the opportunity to serve his people. Abegunde was ordered to vacate his seat because he dumped the Labour Party (LP) in 2012 and joined the defunct Action Congress of Nigeria (ACN). He expressed delight that APC won the Presidential election. Abegunde said: “Many people here are living witnesses to what I went through for exercising my right to choose an association I like. The heat was so intense as if hell was on earth and life will end abruptly. “At the same time, I lost the senatorial ticket of the All Progressives Congress (APC) in a mysterious way and many party supporters and others believed I will challenge the process in court or abandon the party but I told my supporters, I will not challenge the decision of my party leaders. “When I lost my seat in the National Assembly as a sacrifice for joining ACN many thought, I will be distracted. I want to tell the people that I am a democrat and have been in this system for long as House Committee Chairman on intergovernmental affairs between 2003 and 2007 and also served in the same capacity as Committee Chairman on Emergency And Natural Disaster supervising NEMA from 2011 till last month when the verdict came.”

THE NATION MONDAY, MAY 18, 2015

NEWS

Disclose public officials’ pay, says Osundare L ITERARY icon Prof Niyi Osundare has admonished the incoming administration of Muhammadu Buhari to ensure that the change promised Nigerians by his party, the All Progressives Congress (APC), does not end up as another buzzword. He added that the world is still looking at the electoral victory of the APC with caution and that the incoming administration may not be able to deliver the promised change, if it is going to be business as usual. Osundare, one of Africa’s pre-eminent poets and intellectuals gave the admonition at the 80th anniversary lecture of the famous Christ’s School, Ado Ekiti, Ekiti State in Lagos yesterday. The guest lecturer, who spoke on the theme: “Too Big to Fail”, said Nigeria spends about 60 per cent of its earnings on the maintenance of prodigal, parasitic, unproductive public officials, whose aversion to moderation and temperance has turned the country into a moral wilderness. The poet called for a full disclosure of “the criminally fantastic remuneration of public officials; the huge, undisclosed salaries and constituency allowances of legislators from overfed senators to over-pampered local government officials; from secret security votes to crippling severance packages.” “We demand full disclosure of the remunerations and allowances of all public officials, the reinstatement of fis-

By Raymond Mordi and Wale Ajetunmobi

cal regulations discipline in all public offices, a new mentality that public is not a ‘chop-chop’ bonanza. President-elect Buhari must promise us that those days are gone when the national budget carried a vote of N1 billion for state meals and snacks; and almost N900 million for the running of Presidential Villa generators. Outrage expenditures of this kind are not only destroying the economy, they are also depleting the stock of our moral capital.” Osundare noted that the desired change would never come until Nigerians start holding those who rule them to account, adding that the problem with Nigeria is not only failure of leadership as has been noted in the past, but also a delinquent followership. On the way forward, he said last year’s National Conference may well be the government’s longest lasting legacy, in spite of its opportunistic timing. In what he described as the second part of the lecture, the poet said he was delighted by the conduct of two so-called illiterate women who made very poignant statements during the March 28 election. He said: “Through the hurly burly of the polling day, March 28, beyond the pandemonium of the party warlords and overwhelmed electoral officials, out of the folds of waiting voters winding down the street like a restless

python, two women emerged with an urgent message for a roving video camera. “Holding up their Permanent Voter Cards (PVCs), they said something to this effect: Se e ri kini yi? Oun la ma fi gba ijoba ole to wa nbe kuro. Ti ijoba to mbo o ba daa, oun la ma fi gba oun naa kuro (You see this card? It is what we shall use to sweep out this government of thieves. If the incoming government is not better, we shall use it to sweep them away too). Now, before you let loose a whirlwind of conventional assumptions, hear this: by their general disposition and appearance, these women did not look like the typical sophisticated university graduates mouthing political platitudes from Plato or Thomas Payne. These were thinkers whose aspects were as natural as the earth on which they stood. “They were graduates from University of Life, of the hard, merciless Nigerian life. Their declaration demonstrated an unforced wisdom about the inherent and practical power of electoral democracy that has eluded Nigeria for so long. There is a certain sense of empowerment, a certain measure of political self-worth in their electoral behaviour beyond meretricious sloganeering and coded lies of the political hustings. Implicit in these women’s declaration is a moral-existential chronological sequence that can be read along these lines: before-and-after, once-upon-a-

•Prof Osundare ...yesterday

time, and never-again. It is on this sequential grid that I intend to peg my points in the remaining part of this talk.” He said Nigeria has had “a government that saw no difference between wrong and right, fair and foul, the decent and the decadent, the civil and evil; a president that saw no connection between stealing and corruption; a leader who felt so blissfully at home with dubious people and fugitive from the law.” The guest lecturer said corruption has been “the grand

PHOTO: RAHMAN SANUSI

open sesame to the chambers of power, the prime qualification for the most important appointments, the tie which bound the powerful and ruthless. Rather than serving as that high temple of the state from which all goodness flows, our Presidential Villa became the bulwark of the beastly, the den of the desperado, the last, unfailing refuge of fugitives from justice.” Osundare, who is based in the United States, said foreigners always wonder whether there is indeed a government in Nigeria. He said that is why Pres-

ident Barack Obama has refused to visit the country since he came to power. At the event were: former Ekiti State Governor Kayode Fayemi, Prof. Duro Oni, Mr. Yemi Akeju, Mr. Gbenga Oyebode, Mrs. Taiwo Ajai-Lycett, Pastor Tunde Bakare (who was accompanied by his wife), Chief Ayo Adebanjo, Prof. Itse Sagey, Mr. Macauley Iyayi, Mr. Stephen Longe, Mr. Yinka Odumakin, Mrs. Eniola Fadayomi, Mr. Femi Falana (SAN), Odia Ofeimun and Mr. Jiti Ogunye.

21 young men arrested in Ibadan for being in ‘gay cult’

WENTY-ONE young men under the age of 25 have been arrested in Nigeria for being in a ‘gay cult’. The young men, who were caught with 122 condoms between them, were held in an Ibadan police station last week. The arrest comes after Nigerian state governor Emmanuel Uduaghan said he would crack down on ‘gay cults’, saying ‘these are our young boys and men come

to sleep with them’. When police flooded the house, the officers accused them of holding an ‘initiation’ into their ‘evil’ group. They had no formal charge against them, but relied on the presence of the condoms with no female present. They also claimed they received a tip saying the occupants of the room were gay. The organizer of the event told officials that it was actually just a birthday party and they had nothing to do

with any ‘cult’. All 21 were immediately taken into the police station. Human rights organisation The Initiative for Equal Rights (TIER) received a call on May 10 and immediately started helping the young men. A spokesperson said: ‘At the point of arrest, the young men were physically assaulted and treated in a manner unbecoming of any legal process: they were photographed in their underwear,

made to write statements under duress and locked up in an overcrowded cell.’ While the police wished to refuse bail and transfer the case to the state courts, a lawyer from the International Center for Reproductive Health and Se x u a l Rights (INCRESE) managed to allow them to pay for their freedom. The individuals were given varying bail notices, from N5,000 ($25, •22) to N10,000 ($50, •44). The or-

ganiser of the party had to pay N21,000 ($105, •92). They did not want to appeal against their treatment in case it would lead them to being outed and branded as gay. While 11 had family and friends to bail them out, 10 were left in detention. INCRESE provided the fund for the bail, with the 10 then taken to a safehouse. When all 21 returned to the police station on May 14, it was alleged the police

further extorted more money from each of them before they were allowed to leave. The TIER spokesperson added: ‘It is obvious that there is a need to create more public awareness and the need for victims to take up cases with solid support of the movement. Without this, cases like this will continue to occur with limited or no option for proper adjudication for justice.’

Judge asked to hands of N5.2 billion suit against CBN, others By Adebisi Onanuga and Precious Igbonwelundu

•CBN Governor Emefiele

Godwin

LAWYER, Dr. Ted Edwards has filed an application seeking a stay of ruling in the N5.2 billion suit before a Federal Capital Territory (FCT) High Court, against the Central Bank of Nigeria (CBN), and others. The applicant, through his lawyer, Anthony Idigbe (SAN), in the suit is seeking an order of court transferring the suit to another judge in the Abuja division of the High Court.

Joined as defendants with the CBN are Jonah Otunla; Accountant General of the Federation; Ambassador Yaguda; Minister of State, Finance; Guarantee Trust Bank (GTB); Anaocha Local Government Area of Anambra State as well as the Incorporated Trustees of the Association of Local Governments of Nigeria. In the Motion on Notice filed at the weekend, the applicant is seeking an order staying the ruling of the court, billed for delivery today, an order for stay of proceedings pending the hearing and determination of an appeal filed by GTB challenging an earlier ruling of the trial court. The motion brought pursuant to Order 32 Rule 1 of The High Court (Civil Procedure) Rules 2004 was supported by an affidavit deposed to by a lawyer, Eric Otojah.

Idigbe queried the quick approach adopted by the court in the conduct of the suit and determination of the various applications filed in the matter as evidenced in the short adjournments often sought by the Plaintiff and granted by the court. Also in the appeal filed on Friday, the applicant is seeking the setting aside of the order of the court on the ground that, the learned trial Judge erred in law when he refused to rule on the first respondent’s (CBN) application for amendment and held that the ruling shall be made together with the substantive suit. The motion on transfer of the suit to another judge was premised on approach adopted by the trial judge in the determination of the various applications filed in the Court. The applicant also questioned the decision of the trial judge that he would not rule on the various preliminary objections filed by the respective defendants notwithstanding series of applications and appeal

to him to first of all determine the issue of jurisdiction raised in the respective preliminary objections. The applicant further questioned Justice Ashi’ s decision that all applications including the preliminary objections would be taken and ruling delivered alongside the substantive suit despite application and appeal to the Judge to vary his stand. The counsel therefore argued that given the sensitive nature of the suit and the fact that the fund in question emanates from Excess Crude Account, the matter should not be handled in a hurry under the guise of speedy dispensation of the mater. They also averred that on Thursday May 14, 2015, Counsel to the 6th defendant bank made spirited effort to compel the court to vary its stand as to the conduct of the matter and passionately applied to the court to first determine the Preliminary Objections and the Plaintiff’s motion for amend-

ment in the least before proceeding to hear the substantive suit but the Judge refused the application for variation of its earlier order as to taking all pending applications and the substantive suit together. “ The above stand of the Judge raises certain questions and issues as to why the hurry especially given the fact that hand over to a new administration is scheduled for 28th May, 2015, he added. Apart from the CBN, others mentioned in the suit filed by Dr Edwards are Mr. Jonah Otunla, the Accountant General of the Federation, Ambassador, Yaguda, Minister of State for Finance and a second Generation bank, while Anaocha Local council in Anambra State and Incorporated Trustees of Association of Local Government of Nigeria were later joined as defendants. The Plaintiff claims that on December 2, 2014 and in compliance with the garnishee order absolute, the sum of N5,240,516,186.21 being the

judgment debt was paid into account No. 0116816714 maintained with the 6th Defendant and that same was illegally withdrawn from the account. The first defendant (CBN) admitted in its pleadings/court processes that the reversal was done by it on the instruction of the fourth defendant, which was also stated in the Plaintiff’s processes filed before the Court. The sixth defendant bank filed a Notice of Preliminary Objection challenging the jurisdiction of the Court on grounds that the plaintiff lacks the locus standi to institute the suit and that there is no reasonable cause of action against the sixth defendant bank, CBN and others. In addition to filing Notice of Intention to defend the suit, the CBN and other defendants also opposed the motion for amendment brought by the Plaintiff to change the name of the Plaintiff to add “Edward and Partners Law Firm”

THE NATION MONDAY, MAY 18, 2015

CITYBEATS

CITYBEATS LINE: 09091178827

Civil Defence chief proffers security tips

Suspected robber implicates innocent man

By Basirat Braimah

•‘I didn’t want to die alone’

FTER weeks in custody, a man implicated by an armed robbery suspect has

been released by the police. Tunde Akanbi, 23, was released following the suspect, Ahmed Adekeye’s of his statement implicating Akanbi in a robbery in Ajangbadi, Lagos, last May 2. Adekeye, 32, said he implicated Akanbi because he did not want to die alone. At a media briefing, Lagos Command’s spokesman Ken Nwosu, a Deputy Superintendent of Police (DSP) said Adekeye was caught on May 2 at Imude, Ajangbadi by members of a vigilance group and Neigbourhood Watch. “Five of his gang members escaped; he was arrested. Ten minutes later, the vigilance group arrested another person identified as Tunde Akanbi and took him to the premises of the person the gang robbed. He was joined with Adekeye whose leg and hands were already tied on the ground.” “At the Ikotun Police Station, Adekeye said Akanbi was a member of his gang, but when he was transferred to Special Anti-Robbery Squad (SARS), Scorpion House, he confessed that he implicated Akanbi because he did not want to die or suffer alone. “Investigation is still ongoing and the suspect will be charged to court while the victim of circumstance, Tunde Akanbi, has been released and told to be reporting

•Adekeye (left) and Akanbi By Ebele Boniface

pending the conclusion of the investigation. Adekeye told SARS operatives that he lied to implicate Akanbi and that is why he is seen as a victim of circumstance.” In his confession, Adekeye said: “Please tell Tunde Akanbi, to forgive me because it was devil that confused me. I did not want to die or suffer alone because of the seriousness of the armed robbery case. I was the only person arrested, but we were six in number. I have been into many police cells, but this is the first time I would be in SARS cell. “I am from Iwo Village in Isi Local Government Area of Kwara State. I divorced my wife because of her unfaithfulness. My father, Adekeye Yusuf is late; he was a bus driver. He died in Ilorin in 2005 in an accident. My mother, Mrs. Ramota Adekeye, was the first to die because of the stress that my being a thief caused her. I live in Suru Alaba in Lagos.” On the robbery that landed him in trouble, he said: “One of my friends, Aloma, a shoe maker based at Suru Alaba, called me to come and meet him at Ilogbo near Ajangbadi

around 9.30pm. I met them in an Indian hemp joint, which is owned by Aloma. They were five there. They brought three cutlasses and three wooden batons. I took one of the wooden batons. Then we went to Orisa Street, Imude and stayed in an uncompleted building at about 10pm. At about 1.30am, we went to the victim’s house, a selfcontained apartment. There were four of such apartments there. We broke the door of one of them, while Aloma cut the head of the owner of the house with cutlass. The man’s shout attracted neighbours and the vigilance group and people shouted “thief! thief! thief!” We ran to different directions; I ran to Mile 2. When I was caught, they asked me the names of my accomplices which I gave them. Maybe, that was why they went to the market and arrested Akanbi. “When we were handed over to the police, I still insisted that Akanbi is one of us. Even when I was writing statement, they asked me whether I knew him and I said yes. We were there four days before we were transferred to SARS. There, I insisted that Akanbi is one of us be-

cause I did not want to die alone.” In tears, Akambi said: “I have accepted his apology. I am from Okesuna side of Ilorin. I am a student of Arabic Studies. I have finished Q’uran but no money to continue. That fateful day, I just finished prayer and was coming back when one motorcycle rider carrying one person drove near me at about 7am on May 2. He asked me what I was doing there and I told him I was waiting to board a bus. He asked me where I was coming from and I told him I was coming from where I went for prayers. He tore my shirt and started calling me a thief. He forced me on his motorcycle. I sat between him and the other person. I was taken to Orise where I saw Adekeye tied. They asked for my name and I told them. They asked Adekeye whether I was one of them and he said ‘yes’. I was detained in police station three days before we were transferred. “Adekeye later told the Officer in Charge (O/C) of SARS that I was innocent; that he implicated me because he did not want to suffer alone. The O/C SARS ordered the investigating officer to hand me over to my people because I don’t know anything about the case.”

•President/Initiator, Rhesus Solution Initiative (RSI) Mrs Olufunmilayo Banire addressing participants during this year’s Walk for Life organised by RSI at the Teslim Balogun Stadium, Surulere in Lagos. With her (from right) Lagos State Deputy Governor-elect Dr Idiat Adebule; National Legal Adviser of the All Progressives Congress (APC) Dr Muiz Banire; Member, Lagos State House of Assembly Hon Adefunmilayo Tejuosho; Special Adviser to Lagos State Governor on Public Health Dr Yewande Adeshina and a retired First Bank Plc Manager Alhaja Fatimat Oyefeso. PHOTO: TAJUDEEN ADEBANJO

Govt sanctions 25 erring LASTMA officials

O fewer than 25 officials of the Lagos State Traffic Management Authority (LASTMA) has been sanctioned, Lagos State Solicitor General, Lawal Pedro (SAN) said. Pedro said the erring officers of the agency appeared before the disciplinary committee in his Ministry for various offenses which includes irregular issuance of fine tickets, refusal to put on uniform while on duty, illegal extortion of money from motorists, performing unauthorised duty, engaging

By Adebisi Onanuga

the services of non-staff to drive an apprehended vehicle, among others. He said all the erring officers found guilty of various offences which include official misconduct and illegal practices have been sanctioned accordingly Pedro said government would no longer tolerate unruly behaviour, indiscipline, corrupt practices and disobedience to lawful orders by the traffic officers, charging them to henceforth de-

sist from practices that could damage the reputation of the government. According to him, the era of indiscipline and impunity in the agency is over. He warned that henceforth, any officer found wanting will not go unpunished Pedro said government has rebranded the agency to serve the public better. The agency, he said, is now to be known as the Lagos State Law Enforcement (Traffic) Officer, adding

•Pedro

that it will now operate under the Ministry of Justice.

AGOS State Commandant Nigeria Security and Civil Defence Corps (NSCDC), Gabriel Abafi has charged Private Guard Companies (PGC) to collaborate with public security agencies to guarantee their clients safety. Abafi gave the charge at a stakeholders’ forum in Lagos, with the theme: “Drawing up a tested, trusted and virile national security template towards a re-positioned and new Nigeria.” According to him, the seminar was designed to brief members of PGCs on the current trends in security management. He said: “Security companies need to collaborate with public security agencies before their clients can be protected from crimes and hazards. Everyone should be security-conscious. If you sight a strange person in your midst, do not hesitate to alert security agencies, especially here in Lagos where anything goes.” The guest lecturer, Adebayo Akinlade, a lawyer and Director-General, Institute of Securities, said for an effective and efficient security service, there must be optimum transformation and improvement from private firms. National Finance Director of Association of Licensed Private Security of Nigeria (ALPSPN) Godwin Enuoyigbo said the association is not enjoying public patronage. He said: “Knowing the current security situation in the country, it is regrettable that some people still employ unlicensed and unprofessional security officers with utter disregard to us. “At the moment, we engage the largest number of security personnel in the country; so, we are in the best position to know what is happening and advise the government on security issues. “If we can be better recognised, we will provide information and assist in proper conduct of elections in subsequent years. Our services will also be needed in the area of disaster management.” Former ALSPN chairman Oladele Inheren said the seminar was organised to discuss security agencies’ role in the country. Security companies’ operators, he said, must be allowed to work without interference, adding: “We need to be recognised first before any duty can be carried out. We have information about every employer in case he/she needs to be tracked when there is a problem. I believe the crime rate will be reduced, if not totally eradicated, if we are known,” he added. Wale Adubi, who works with Strength Securities, said: “As an operator in the security sector, it is necessary that you keep in touch with your regulatory body. Most of us are limited in our scope of regulation; so, this interactive session is, indeed, a wake-up call for us.”

THE NATION MONDAY, MAY 18, 2015

NEWS

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Associates celebrate Berger Paints MD Folikwe

T was an evening of fun, excitement coupled with eulogies as associates, families and former colleagues of newly appointed Managing Director, Berger Paints Plc, Mr. Peter Folikwe during the weekend gathered at the Function Hall of the Lagos Sheraton Hotel and Towers, to honour him. The occasion which also attracted eminent corporate players from across the country was organised by associates of Folikwe whom they described as very thorough, committed and humble, even when he is the boss. No doubt, most of those who spoke during the event attributed Folikwe’s rise to his present position to commitment, hard work, fear of God and unmatched humility, a trait which he has always exhibited in previous employments such as Vitafoam Plc, MTN Nigeria and many others. Notable among those at the

gathering were Founder/Managing Director, Fidson Healthcare Services Ltd, Mr. Fidelis Ayebea, Executive Director First City Monument Bank (FCMB), Mr. Olu Akanmu, Finance Director Vitafoam Plc, Mr. Brass Ogun, Director, Institute of Human Virology, Mr. Fredrick Hayes and Managing Director, Propertygate Ltd, Mr. Tokunbo Ajayi among others. Ayebea said it gladdens his heart that Berger Paints Plc made a good choice in Folikwe especially as a younger person against the norm in the past where those who occupied such lofty position in the company were much older, though also delivered on their assignments. Also, Kayode Oluwasona, Managing Director Harmonee Concepts Ltd, said he knew Folikwe from the client side, saying that his rise to the position of Managing Director is not a surprise to him given Folikwe’s antecedents.

•From left: Pastor Muyiwa Maku of the Redeemed Church of God, Mr Ajayi; Folikwe and his wife, Olanike at the event.

Oluwasona said that in the advertising business where he has spent most of his career, it is rare to find somebody as credible as Folikwe, maintaining that having worked with him for a long time, he can attest to his proper fitness for the job based on outstanding capacities. He however commended Berger Paints Plc, for appointing Folikwe,

saying that the board and management of Vitafoam Plc, made a good choice. He said the sincerity of Folikwe, besides professional attainment will definitely carve a new image and more acceptances for the company in the coming years. He urged similar organisations to emulate Berger Paints by looking for younger professionals to

drive their business. Folikwe holds a Bachelor of Science in Marketing from the University of Nigeria, Nsukka (UNN) and a Master of Business Administration (MBA) from University of Benin. He is an Alumnus of Lagos Business School and Cranfield University, Bedford, United Kingdom.

•Sultan of Sokoto and President-General, Nigeria Supreme Council for Islamic Affairs Alhaji Muhammad Sa’ad Abubakar •Newly installed President, Muslim Community of Lagos State, (second right) with (from right) Chief Imam of Lagos, Sheikh Garuba Akinola; Chairman Ibrahim; Chairman on the occassion Prof Tajudeen Gbadamosi (right) and Bashorun of Lagos Alhaji cum former Inspector-General of Police Alhaji Musiliu Smith and Baba Adinni of Lagos Sheikh AbdulAfeez Abou during the inauguration of the Muslim Community of Lagos State at the Lagos Central Mosque, Idumota, Lagos... yesterday. Sikiru Alabi Mac-foy

LAGBUS won’t hike fares

AGBUS Asset Management Ltd, operators of Lagos metropolitan red buses, yesterday said it would not increase fares despite the biting fuel scarcity. Its Managing Director, Mr Babatunde Disu, told the News Agency of Nigeria (NAN) in Lagos that “as at today, Lagosians should not expect any increase in fares’’. Disu said LAGBUS would not tolerate overloading be-

cause of higher demand for its service following the fuel scarcity and the corresponding increase in fares by other transport operators. The company, he said, always tried to check pressure because of overloading. Disu said LAGBUS would continue rolling out its buses to ease transportation hardship following the lingering fuel scarcity. He said though fuel scarcity was biting harder,

LAGBUS would ensure adequate operations across all its routes. “We must still carry the people of Lagos as much as we can. Our buses are still being rolled out in their numbers since the scarcity of fuel commenced and we hope to sustain it in the interest of the teeming commuters in the state. We plan well ahead to get fuel to operate our buses though it has not been easy anyway,’’ the

LAGBUS boss said. Disu, however, noted that much expenses were incurred operating the buses because of the fuel scarcity and gridlock, adding: “This lingering fuel crisis, no doubt, makes the running of the business more expensive for us and all our franchise.” Disu said the company would continue to improve on its operations to make transport easy for Lagos residents.

Be safety conscious, boat operators told

AGOS State Waterways Authority (LASWA) yesterday urged boat operators and commuters to comply with safety measures during the rains. Its Managing Director, Mr Olayinka Marinho, told the News Agency of Nigeria (NAN) in Lagos that it is not safe to travel on waterways during a downpour and when water current rough. Marinho said the authority would increase its enlightenment and enforcement campaign to ensure protection of lives and property.

“We have done much more in the provision of life jackets for the operators in various parts of the city. We are going about enforcing their usage for their safety; we urge all our passengers to ensure that they put on their life jackets. We will close the waterways any day when the rain is heavy or the current is rough that it may endanger lives and property of our operators and commuters,’’ he said. Marinho said LASWA would ensure that the waterways were closed at certain times to ensure safe passage, adding that it was not safe to be on the water

during heavy rains. LASWA, he said, would close the waterways at certain times because of poor visibility. Marinho, urged operators to use the navigational buoys to help them navigate the waterways safely. According to him, any operator found to carry passengers without observing safety measures would be penalised. He said the member of fake life jackets in circulation had reduced because of government’s intervention in the distribution of free life jackets to operators.

“We have seen a huge decrease in the people who do not put on life jackets while boarding vessels because of government’s intervention. “We have increased the number of children’s life jackets and more life jackets will be distributed,’’ he said. Marinho said the authority would ensure enforcement of all safety measures, urging water guards to be more careful with the carriage of petroleum products by boat operators. He advised the guards to be more security alert.

2,500 kids dazzle in debate

NON-governmental organisation, Kiddies Vision, has treated over 2,500 students from over 100 private secondary schools in Lagos to an organised debate on security. It held on in the Exhibition Hall 2, National Art Theatre, Iganmu, Lagos. Each student was asked to state what he would do if he becomes Commissioner for Health, Minister of Finance. Most of the guests urged its organiser, Mrs Nnenna Umeohia to extend the programme to other states in Nigeria for many schools to benefit. She agreed but complained of lack of funds and called for more sponsors. She narrated the objectives of Kiddies Vision as raising role models for positive impact; helping Nigerian kids and teenagers discover their talents and nurturing the minds of young Nigerians towards civic education and social responsibility. The Managing Director of Seven Star Paper and Allied Product Limited, sponsor of the event, Eric Ni, said Nigeria is a big

By Ebele Boniface

family which he is part of since he is doing business in Nigeria and he wants to contribute to the nurturing of leaders of tomorrow who will become president, governor and minister in future. The students performed very well. Those who came first were given N100,00 each; second, N50,000 each and third, N20,000 each. Over 100 students benefitted. In the young Commissioner of Health debate, Nicole Ikenna came first and received N100,000; Akpo Christiana came second and got N50,000, while Isabela Babalola came third and got N30,000. Others competed in young Minister of Finance, young Minister of Sports among others. Some schools also participated in pick and draw game in which gifts like air conditioners, Tiger Gasoline generators, Xtra Breeze 18" standing fans and Kelon air conditioners were given to them to round off the Young Ministers Competition Grand Finale.

THE NATION MONDAY, MAY 18, 2015

COMMENTARY EDITORIALS

Supreme tussle Apex court’s intervention in the rift between the federal executive and Senate is suspect

T is good that what had threatened to cost implications of their decisions. The ercised bad faith in this matter. He be another political impasse that legislature which began the amendment weighed in with his influence to slow could have affected the peace, if not process shortly after it was inaugurated down the process when the legislators the stability of Nigeria has been staved in 2011 had already committed huge re- wanted to conclude it last year. He off following last week’s last minute de- sources into it, organising seminars and brought up the National Conference, the cision of the Senate to stand down the workshops, holding public hearings in report of which he could not get impleface-off between the National Assembly the federal capital and the six geo-politi- mented at a critical point. It was obvious and the Presidency which had dovetailed cal zones, and engaging the services of to him at that point that it would be pracinto the legislature’s attempt to disregard some of the best legal minds in the coun- tically impossible for the conference to a ruling of the Supreme Court. The Presi- try as consultants. The adjournment is end its deliberations, make recommendent had acted within his rights to with- indeed a setback as the new assembly, dations that would be given effect in the hold his assent on the Bill seeking to fur- comprising mainly first timers, cannot be life of his administration. He might not ther amend the 1999 Constitution. He expected to understand the history and have envisaged the defeat he suffered at gave reasons for his disavowal of the sec- underpinnings of the decisions reached. the poll in April, but he was aware of the tions of the amendment Bill. But, believ- Besides, it just cannot continue from older constitution amendment plan of the ing that President Goodluck Jonathan where the matter would have been National Assembly. He was equally aware that he would need to pass the recwas playing political games, incensed rested. We, however, call on the in-coming law- ommendations to the lawmakers, yet no legislators said they would muster the numbers to override the President’s veto. makers to be more diligent in pursuing effort was made to reconcile the findings Had they done so, they would also have matters of national interest. There could with the lawmakers who were set to pass acted within their rights. their own summations But, sensing imminent into law. If the President defeat and feeling very were acting in good faith, strongly that the National he would have passed the Assembly had overconfab’s resolutions earreached itself in proposlier to enable a marriage ing the amendment, the of the efforts. President sought the inWe are convinced that tervention of the highest these political and moral court of the land, the Sufacts were not lost on the preme Court, raising Supreme Court justices what he said were pointwho rather chose to buy ers of law that the Nainto the federal tional Assembly would executive’s delay tactics. have erred if the amendAs is always the case in ments were allowed. similar matters, the It is our view that, on people are the losers. The point of law, the Presibillions of Naira spent on dent was probably corboth the confab and the rect in seeking judicial National Assembly’s exintervention in what had pedition have been become a legal dispute flushed down the drain. between the two arms of We call on the Nigerian government. The execupeople and civil society tive also wanted the Sugroups to be more socially preme Court’s interpreengaged with their govtation of aspects of the ernments. At the point Constitution it had cited that it had become clear in objecting to the that the executive and legamendment. islature were on collision The lawmakers, too, course, the civil could not be faulted in organisations ought to holding that the decision have intervened deciof their lordships to in- • David Mark, Senate President sively, bringing the issues terfere with the legislainvolved to bold relief. be no justification for the amendment tive process amounted to usurpation of We expect that the incoming Buhari adpower and violation of the time-hallowed dragging on for almost four years before Principle of Separation of Power that is it reached this point. Had the assembly ministration would demonstrate matucentral to the practice of the presidential been faithful to its pledge to get the rity, good sense and act swiftly in getting system of government. The furious law- amendment effected by 2013, the most the issues resolved and the amendment makers who alleged conspiracy between recent intrigues that started with the 2014 process brought back on track. We hope the executive and judicial arms of gov- National Conference would not have that the administration would be well ernment said the court was wrong to have caught up with it. It is unacceptable that, served by the knowledge and expertise entertained the matter while the National after receiving huge emoluments, the of the Vice-President elect, Professor Assembly was still in the process of ex- lawmakers could still drag the process on Yemi Osinbajo, a Senior Advocate of Niamining and deciding what to do with for so long. We observe that the fact that geria (SAN). We also advise the Supreme Court justhe executive action. They pointed out many Bills are stuck on the President’s that the two chambers of the assembly table, neither returned to the assembly tices to be more circumspect and restore had always avoided discussing matters nor assented to, is an indication that the confidence in the apex court. A situation in court and they deserved the same re- legislature has for long shied away from that has portrayed it, rightly or wrongly, exercising its powers and watching out as acting in cahoots with the executive spect. We commend the maturity of the law- for the public good. Had there been pre- can only deny it the honour it deserves makers in backing down on the threat to cedence of overriding the presidential and thus affect the impartial disregard the ruling of the Supreme veto, it would have availed them better stabilisation role expected of it. The national health is too important to Court that the status quo ante be main- in the instant case. be subjected to unhealthy power game. We note too that President Jonathan extained until the parties address the court on the matter on June 19. A resort to self‘We expect that the incoming Buhari administration help in the matter would have created bad blood and set a bad precedence for would demonstrate maturity, good sense and act swiftly other institutions of state and even indiin getting the issues resolved and the amendment providuals. cess brought back on track. We hope that the adminisWe agree with the National Assembly that the justices acted in a curious mantration would be well served by the knowledge and ner in adjourning the case till the tenure expertise of the Vice-President elect, Professor Yemi of the current assembly would have lapsed. It is unfortunate that those placed Osinbajo, a Senior Advocate of Nigeria (SAN)’ in sacred positions of authority ignore the

LETTER

GMB’s traffic wish, protocols and safety

IR: It was news in all the major newspapers and online sites that the Presidentelect, General Muhammad Buhari has directed his protocol officers and his team that traffic rules should be observed and respected. There was also a picture showing the President-Elect observing the rules. This is an unprecedented step by the Presidentelect. In a country where the the children of government officials do not respect traffic laws, in fact many of them don’t even have drivers licence, and suddenly a Presidentelect has shown his commitment to respect each and every law in the country, it is both commendable and a sign of good things to come. The directive to follow traffic laws by by Buhari can be considered his personal wish. But what about his protocols and his safety? It is also the duty of the Presidential security detail and advance teams to ensure that President is protected and transported to any place he wants to go right on time. As Presidentelect, that is quite possible. But as substantive President, that will be somehow difficult. A President visiting a particular place while on the road and suddenly the light turned red while his advance team has already passed would be a source of security concern. Or is it that the traffic control centre will monitor the President’s movement and timely turning the light green on his approach? The safety of the President is not his choice; it is a national security matter. Security has always been a great source of concern to all countries around the world. That is why even in so-called developed countries, the roads are made open to their leaders and they don’t necessarily wait for the green light. Nigeria should be on its highest security alert now and even months after swearing in of General Muhammad Buhari. This is not just because of the transition or visiting foreign leaders, but because of potential terrorist threats. Already there is insurgency in North-east, militancy in Southsouth, terror groups and kidnappings in South-west and South-east, herdsmen-farmers clashes in North-west and North-central, etc. Everybody can be targeted – the President included. A lot of tragedies and attacks have occurred to many leaders from around the world while they are on the road. Murtala Muhammed was assassinated in a car while he was in his car waiting for the traffic light. President Hosni Mubarak’s car was attacked in Ethiopia while he was in the country for a visit. President Kennedy was assassinated in a car in Dallas in 1963. The road is the weakest security place for a leader. The Presidentelect cannot not afford to play with the red and green lights at a wrong time like this. His security is a national affair that must be taken very serious. • Comrade Abdulbaqi Jari, Katsina

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THE NATION MONDAY, MAY 18, 2015

CARTOON & LETTERS

IR: We had assumed that we knew the Peoples Democratic Party. We knew the party’s trivia. We knew its humble beginnings. It was a spin-off of G-34. We knew its logo. The tricolor umbrella. We knew its command center. Wadata Plaza. We knew the genealogy of her chairmen. ( Solomon begat Audu, Audu begat Barnabas, Barnabas begat Ahmadu, Ahmdau begat Vincent, Vincent begat Okwesilieze, Okwesilieze begat Bello, Bello begat Bamanga and Bamanga begat Adamu.) We knew her decapitation curse. We knew her motto. Power to the People. But the leader of the party, President Goodluck Jonathan, rid us of our delusion. He said PDP was not a political party. The party was a culinary party. The raison d’être of the party was to be a society for eating and drinking.

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Will APC be another eatery? At the presentation of the Fgrade report of the PDP Presidential Campaign Organization, President Jonathan remarked, “I encourage members of the party not to become disillusioned because we lost the presidential election...those people running and those already cross-carpeting, they will come back on an empty stomach because they will touch the primary members of their party, before they get to you. They know you are hungry: Before it will get to you, the food will be gone.’’

This revelation of PDP as a gastronomic cult cracks the riddle. It helps explains why the party’s 16 year-long is a paradox of greater national wealth producing increased citizen misery. A cell of cannibals was feeding off their countrymen. PDP, the culinary party, would have continued the pretension to conducting governance had the voters decided not to cut the reel. They would have carried on the despoilment of the land, like a plague of Egyptian locusts, if the

Biafra: Allow us to enjoy our Nigeria

IR: I watched Minister of Aviation in the First Republic, Amaechi Mbazulike on national television say that “Nigeria is a country without history” and I find that statement, to a certain extent, apt. Think about it: History as a subject is no longer taught in our schools these days. No wonder then that the educated elite find it convenient to blame the ‘other side’ for the whole kit and caboodle in the same way that Slobodan Milosevic of the former Yugoslavia did. And the youths are the losers for these ruses. This is evident in the way they give second opinions about the regrettable Biafra war; they create red herrings and never mention those statesmen, seen as gods, that were murdered in the north and west in Nigeria’s first coup. Further, painfully, they never juxtapose mob actions from genocide- during religious crisis in the north. What I find disturbing is why many years after the war, my friends from the eastern part of Nigeria are still fretting. If the people of Israel had gone on brooding after the genocide,

they would not be able to defend their country, feed her people, export technology and look out for the interests of her people in the Diaspora. And while the Jewish people today are busy finding lost tribes in India, China, Poland and heaps of other places and bringing them home to Israel, the Igbo is busy working with stereotypes within its borders. How then can a Biafra state survive with such discriminations? I used to imagine that the Igbo were a homogenous race until I began to see discriminations first-hand. Imagine this: Most Igbo find it convenient to pour scorn on the Ngwa and Mbaise people at a moment’s notice and if a non-Igbo marries from this stock, they look on pitiably. I have heard many Igbo at close quarters sneer at the Umuahia and Owerri women as stocks that do not make good marriages. An advocate of Biafra suggests that this time they will carry the Southsouth along. I couldn’t help but wonder. Is it the South-south that coordinated, ‘abandon property? The only place where such injustice, was reli-

giously followed? How many even wish for a repeat? Do the Igbo think the people of the South-south will want to share their oil wells with them in the event of a break-up? My unsolicited advice to the Igbo is for them to concentrate efforts on being a political force in Nigeria instead of allowing diverse interests that may reduce them to smithereens. They must refrain from being used by Igbo propagandists outside Nigeria that have not contributed one naira into the 260 billion naira fund needed to fight gully erosion in the east. They must know that a united Nigeria gives them the leverage to continue their importation business because they do not have a seaport; the east is landlocked. Biafra makes business difficult. Wouldn’t they procure visas and pay multiple taxes such as was the case in the former Prussia which led to a unified Germany? There is no region in Nigeria that is free from oppression. Let us unite to enjoy this country and let Biafra allow us to enjoy our Nigeria. Simon Abah, Port Harcourt.Nigeria.

electorate had acquiesced to the party’s scheme to hold power for 60 years. Now the culinary party is over. Or as Senate President David Mark says, PDP is “in comatose situation”. APC is the new ruling party. Will APC be any different from a club of feasters? Last week chairman of APC Governors’ Forum, Rochas Okorocha, led his brother governors to a courtesy call on Buhari. Okorocha pleaded on “behalf of his colleagues” for a bailout for the states. The states are bankrupt. They can’t pay meet their recurrent obligations. They borrow to pay salaries. Taken together, APC is sending a disheartening signal. They seem intent to convey that lethargy has

preceded the resumption of work. The party’s agents want an easy yoke and a light burden. They labored to win elective office in order to procure an eternal Sabbath. They don’t want to break a sweat. They just want to sit back and disburse ready-made riches. But we are in the last days of the oil era. There will be less and less petrodollars to share. APC’s task is to create wealth, to explore innovative ways of harnessing the abundant resources of the country. APC’s stalwarts cannot distinguish the party by adopting a consumption posture. They can’t plead surrender because the situation demands resourcefulness. What they were elected to do is a job. They will have to earn their keep. They have to bring something to the table. PDP was about tending the bellies of its upper echelon. APC must be a different ruling party. Or we would have effected the proverbial change of trading a dog for a monkey, another sitter animal. • Emmanuel Uchenna Ugwu @emmaugwutheman.

Re: Prof. Akinyemi on Gen. Buhari

IR: I read Prof. Akinyemi’s piece of advice published in your national dailies of Monday, May 11, 2015 to Gen. Muhammadu Buhari, Presidentelect in reaction to his directives that his motorcades obey traffic regulations. The Prof. further elaborated on the negative security implications of Gen. Buhari’s directives. But the one that interests me most was when he compared this with or highlighted a situation where the British Prime Minister, on his way to the Buckingham Palace, traffic was stopped. Also, I had the privilege to watch the telecast. The Prime Minister drove the car himself, with only a single car following behind. But that aspect the Prof. did not comment on.

Interestingly, in our country Nigeria, starting from the Local Government Chairman, Minister, Governor et cetera, which among them would have driven himself to the Palace to see Her Majesty the Queen without a long convoy accompanying him? In as much as the President-elect or anyone else considers always security uppermost in order to ensure the sanctity of life the office one occupies, we Nigerians should learn to live a simple lifestyle and this is the message Gen. Buhari’s directives sought to portray. We are unnecessarily too wasteful and puffed-up! • Edet Ubokulo Oron

THE NATION MONDAY, MAY 18, 2015

COMMENTS

T was President Shehu Usman Aliyu Shagari (90) who first introduced the idea of having ministers of state in a presidential system of government. He could be excused for the introduction, for he was a graduate of the first republic when junior ministers were allowed during the parliamentary system of government. Section 135 subsection 2 of the 1979 Constitution made provisions for nomination of ministers and not ministers of state. Since President Shagari made that initial mistake, every elected President in Nigeria has followed suit. On October 18, 1979, he nominated the following Ministers for Senate approval—Ministers with cabinet rank: M. Mohammed Ibrahim Hassan(Bauchi), M. Adamu Ciroma (Borno), Isaac Shaahu and Paul Unongo (Benue), Iya Abubakar (Gongola), Umaru Dikko and Ishaya Audu (Kaduna), Bello Maitama Yusuf (Kano), Akanbi Oniyangi (Kwara), Ndagi Mamadu (Niger), Adenike Ebun Oyagbola (Ogun), Samuel Adebisi Ogedengbe (Ondo), Richard Akinjide (Oyo), John Jatau Kadiya and Gorge Baba Hoomkwap (Plateau),Mr. Victor Masi (Rivers), Ibrahim Gusau (Sokoto), D.C. Ugwu and Chimezie Ikeazor (Anambra), Sunday Matthew Essang (Cross River), Israel Amadi Emina (Bendel), Sylvester Ugoh and Dr. I.I. Maduike (Imo) and Wahab Olaseinde Dosunmu(Lagos). Other Ministers with non-cabinet rank are Ahmed Musa (Bauchi), P. Bolokor (Bendel), Asheikh Jarma (Borno), Ali Baba (Gongola), M. Iro Abubakar Dan-Musa (Kaduna), Bilyamin Usman (Kano), Ademola Thomas (Lagos), Olu Awotesu (Ogun), Mrs. Janet Akinrinade (Oyo), Ahmudu Nahuce (Sokoto), E. Okoi-Obuli (Cross River), Mamman Ali Makele (Kwara), Cladius Agboola Bamgboye (Ondo) and Jakiri Igbani (Rivers). Two days later at the Senate confirmation of the ministers at the committee stage, Senators Abraham Aderibigbe Adesanya, Jonathan Akinremi Olawole Odebiyi, Emmanuel Kayode Ogunleye, David Olatunbosun Oke, Emeka Patrick Echeruo, Jaja Anucha Wachukwu, Obi Wali, Emmanuel Idahosa Akpata, Stephen Adebanji Akintoye and Senator F.O.M. Atake rejected the idea of junior ministers but because the NPN were in the majority at that time, President Shagari had his way. Shortly after re-election, President Shagari wrote to then Senate President, Joseph Wayas seeking confirmation for 35 ministers. In the letter dated October 17, 1983, he nominated the following: Eleazar Chukwuemeka Anyaoku,C.O.N. and John Nwodo Jnr. (Anambra), Sule Katagum, Ibrahim Tahir and Magaji Mu’azu (Bauchi), J.A. Orhorho and Ralph Uwechue (Bendel), Audu Ogbeh and Dr. E.Y. Atanu (Benue), Mallam Adamu Ciroma, Muhammadu Buhari and Haliru Dantoro (Borno), Dr. Simi Johnson (Lagos), Senator Idirisu Ibrahim (Niger), Kehinde Sofola, SAN, Attorney-General of the Federation (Ogun), Bode Olowoporoku (Ondo), S.M. Afolabi and Bimbo Akintola (Oyo), Hassan Mohammed and Robert Doshun Gumut (Plateau), Okoi-Obuli and A.J. Okonno (Cross Rivers), Ali Baba and Paul Wampana (Gongola), Emmanuel Adiele (Imo), Umaru Dikko and Isma’ila Isa (Kaduna), Yusuf Maitama Sule, C.F.R., Bilyamin Usman and Hamisu Musa (Kano), Ishmael Igbani and Mrs. E. Diete-Spiff (Rivers), Muhammadu Lugga, Idirisu Koko and Bala Sokoto(Sokoto).

HE recent report that Turkey’s economy is in crisis must interest everyone who desires a better deal for the millions of people that dwell in that strategic country. It become even more interesting when the downward turn is taking place under the watchful eyes of President Recep Tayyip Erdogan, who was hitherto believed to posses the magic wand to solve the very problems that are now fast eroding the past economic gains. Turkey’s economic gains have in recent months taken an increasingly backward walk, with the lira (Turkey’s currency) falling to record lows against the dollar, amid a high Current Account Deficit (CAD) despite the free fall of crude oil in the international market. Apart from the weakening lira, which has become a major headache for Turksih companies abroad, increasing personal debts and declining standard of living indicate that Turkey under Erdogan and his ruling Justice and Development (AK) party is no longer among desirable developing economies for investment. But what really happened to the fast blossoming economy of Turkey? Is it that President Erdogan’s authoritarian rule is now taking a toll on it or is it because the president has lost focus on the real economic issues confronting the Turkish people? Why these questions continue to bother my mind, foreign analysts believe that voters in the country who will be going to the polls on June 7 may likely send a strong message to the AK party on their displeasure of the present economic downturns, amid resentment over the embarrassing corruption scandal that implicated members of Erdoðan’s inner circle in December 2013.

‘Turkey’s unprecedented economic growth was said to have been argely driven by low borrowing costs thanks to the US Federal Reserve’s low interest rates and financial crisis in advanced economies, but now Erdogan, who been busy abusing human right, will now need to find a way out of the problem’

Coming era of penny-pinching By Eric Teniola After seizing power from President Shehu Shagari on December 31, 1983, the then Major General Muhammadu Buhari in January 1984 reduced the ministers to 15 without appointing any as ministers of state. The following were his ministers, Domkat Bali (Defence), Buka Shuaib (Agriculture), Mammoud Tukur(Trade), Colonel A. Abdullahi (Communications), Yerima Ibrahim (Education), Onaolapo Sholeye (Finance), Mamman Jaya Vatsa (FCT, Abuja), Emmanuel Nsan (Health), Muhammed Magoro (Internal Affairs), Ibrahim Gambari (Foreign Affairs), Sam Omeruah (Information), Abdullahi Ibrahim (Transportation), Tam David-West (Petroleum), Patrick Koshoni (Works and Housing) and Chief Chike Offodile (Attorney General and Minister of Justice). On seizing power from Major General Buhari, General Ibrahim Babangida increased the ministers to 22 on September 12, 1985. The following were his ministers: Alani Akinrinade (Agriculture, Water Resources and Rural Development), Tanko Ayuba (Communications), Domkat Bali (Defence Secretary and chairman, Joint Chiefs of Staff, Jubril Aminu (Education), Patrick Koshoni (Employment, Labour and Productivity, Bolaji Akinyemi (External Affairs), Mamman Vatsa (Federal Capital Territory), Kalu Idika Kalu (Finance), Olikoye Ransome-Kuti (Health), Lawal Mala (Industries), Anthony Ukpo (Information), John Nanzip Shagaya (Internal Affairs), Prince Bola Ajibola (Justice), Rilwanu Lukman (Mines and Power), Chu Okongwu (National Planning), Tam David-West (Petroleum Resources), Ahmed Abdullahi (Social Development, Youth, Sports and Culture), Emmanuel Emovon (Science and Technology), Ishaya Aboi Shekari (Special Duties), Majo Gado Nasko (Trade), Jeremiah Useni (Transport and Aviation) and Hamza Abdullahi (Works and Housing). Between General Sani Abacha, Chief Earnest Shonekan and General Abdulsalam Abubukar, ministers of states were appointed but their cabinets were not more than 26 ministers. However in 1999, it was President Olusegun Obasanjo who had the largest list of ministers to date with 51. They are Sani Zango Daura, Olusegun Agagu, Chris Agbobu, Mustafa Bello, Mohammed Adzika, TheophilusYakubu Danjuma, L. Ade. Haruna-Elewi, Modupe Adelaja, TundeAdeniran, Hassan Adamu, Lawal Tukur Batagarawa, Imeh T. Okopido, Ibrahim Bunu, AdamuCiroma, Solomon S.A. Ewuga, Jubril MartinsKuye, Sule Lamido, Tim N. Menakaya, Dubem Onya, Dr. (Mrs.) Aminat Ndalolo, IyorchiaAyu, Ojo Maduekwe, Lawarence Nwuruku, Dapo Sarumi, S.M. Afolabi J.P., Jerry Gana, Mohammed Shata, Kanu Godwin Agabi (SAN), Alabo Tonye Graham-Douglas, Phillip C. Asiodu, Rilwanu Lukman, David Jemibewon, Bola Ige (SAN), Muhammed

Bello Kirfi, Danjuma Goje, Vincent Ogbulafor, Ibrahim Umar Kida, Ebitimi E. Banigo, Dan Chuke, Mrs. Pauline K. Tallen, Musa Gwadabe, Dr. (Mrs.) Kemafo N. Chikwe, Bekky K. Igweh, Bello Usman, M. Bello Kaliel, Tony Anenih, Precious Ngelale J.P., Isaiah C. Balat, Hajia Aishatu M.S. Ismail, Damishi Tonson Sango and Yomi Edu. Both President Umaru Yar’Adua and outgoing President Goodluck Jonathan have since maintained the culture of appointing ministers of state. One of the major tasks before the President-elect, Major General Muhammadu Buhari now is the compilation of his list of ministers. Section 147 of the constitution dictates that he must have 36 ministers from 36 states but the section does not dictate that he should have ministers of states. It is from his list that the country will know better the direction of his government. If the list of his ministers is enlarged, one may conclude that his government is going to be prodigal. Even if he wants to be lavish or profuse, I doubt whether the money is there any longer. I understand that most of the money had disappeared. They are gone. In the words of a banker “the country is heavily geared”. Major General Buhari has no choice but to be penny-pinching. Reducing his cabinet will certainly save cost. It will also reduce rivalry, conflicts and jealousy among members of his cabinet on schedule and responsibilities. There is always a constant conflict between ministers and ministers of state. We should spare the President from wasting his time from settling this in-built conflict. One of the major problems President Obasanjo encountered early in his government was having so many ministers which created conflict between ministers and ministers of state. To solve the problems then, he summoned the Secretary of the Federal Government of the Federation Chief Ufot Ekaette to allocate schedule to the ministers and ministers of states. With inputs from his two top aides at that time, Goke Adegoroye and Tunde Kamilu Kasali, Chief Ekaette’s submission was not satisfying enough to the ministers and ministers of state-each claiming authority. They both claim they were all ministers, appointed and sworn in in the same manner and representing their respective states. The permanent secretaries did not help matters. Having a large cabinet might prove unwise. • Teniola, former director at the presidency writes from Lagos.

‘One of the major tasks before the President-elect, Major General Muhammadu Buhari now is the compilation of his list of ministers. Section 147 of the constitution dictates that he must have 36 ministers from 36 states but the section does not dictate that he should have ministers of states’

Erdogan and Turkey’s drifting economy By Suberu Abdumalik To make matter worse, Turkey’s economic growth could not meet up with the expected target of government last year, even as the country’s Gross Domestic Product (GDP) took a nose-dive. Data recently churned out by Turkish Statistics Institute (TurkStat) revealed that the GDP growth slowed to 2.9 percent in 2014 from 4.2 percent the previous year. The statistics agency also announced that the double digit unemployment rate has increased from 10.9 percent in December 2014 to 11.3 percent in January 2015, a record high since April 2010. Economic analysts believe that the present figure may just be a child play to what it will be by the end of the year if Erdogan continues with his ‘iron-hand rulership’, that is scaring away investors. Hundreds of Turks have reportedly lost their jobs as a result of the present administration’s unending crackdown on media and business interest of perceived opposition in order to consolidate its hold on power despite its dwindling popularity rating amid uncertainty in the economy. Former United States (US) Ambassador to Turkey, Robert Pearson, in his latest analysis for the Middle East Institute raised concern over Turkey’s drifting economy and called on the government to undertake a major effort to position it. Recent report by World Bank has also confirmed the problem facing the Turkey’s economy, the bank reduced its earlier growth rate forecast to three percent , a downgrade from an earlier prediction of 3.5 percent. Turkey’s unprecedented economic growth was said to have largely driven by low borrowing costs thanks to the US Federal Reserve’s low interest rates and a financial crisis in advanced economies, but now Erdogan, who been

busy abusing human right, will now need to find a way out of the problem. Apart from the World Bank downgrade, the International Monetary Fund (IMF) has also voiced concern about the political and economic outlook in the country, which pushed the lira to a record low of 2.7104 against the dollar few days ago. Global credit rating agency, Fitch, has also warned on the risk that Turkey’s economy may encounter if the government that will emerge after the upcoming general election embrace growth-based economic policy. The warning is not unconnected with the signal that emanated from debates between the ruling party deputies and the Central Bank over its interest rate policy that have recently pushed the lira to record lows against the US dollar. But the President is not denying that there is a problem, he recently admitted that there is “temporary crisis,” that will soon be overcome. “The current temporary crisis in the economy will be overcome. Although [financial] analysis companies put [forth] different targets, Turkey will continue its [economic] progress.” Erdogan was quoted as saying by the Turkish based Today’s Zaman newspaper at a rally in Kocaeli recently. The president promise that the economy crisis will be remedied may not be unconnected to his attempt to woo voters who are disenchanted by the recent economy performance of the present administration ahead of the general election. It is widely believed that large chunk of Turkish people consider economic issues as a major determining factor in choosing the party that will get their support in the June 7, election of the 550-member Turkey’s parliament, even as opposition parties have been shaping their election manifestos based on their roadmap to extricate the country from the present economic quagmire. •Abdumalik writes from Kaduna.

THE NATION MONDAY, MAY 18, 2015

COMMENTS

T is difficult to ignore two aspects of the speech by President Goodluck Jonathan during a thanksgiving and farewell service organized in his honor at the Cathedral Church of the Advent, Life Camp Gwarimpa, Abuja. He had told his audience that he and his ministers would be persecuted by the incoming administration because of the hard decisions they took. Hear him: “I have run the government this way that stabilized certain things, the electoral process and other things that brought stability to this country. They are very costly decisions which I must be ready to pay for”. He also spoke of desertion and sabotage from some of his close friends. “Some people come to me and say this or that person is he not your friend that benefited? But this is what the person is saying”. He said his reaction was that worse statements will still come and that if you take hard decisions, even some of your very close friends will abandon you at some point. Jonathan underscored this point by drawing analogy with Fredrick de Klerk who he claimed abandoned by his wife for abolishing apartheid in South Africa-a decision, which he further opined, positively changed the face of that country. He said he sympathized with ministers and aides who served under him because they will be persecuted and urged them to be ready for it. Apparently sensing the gravity of the allegation, the incoming government of the All Progressives Congress APC reacted very swiftly. Its national publicity secretary, Lai Mohammed said the Buhari administration will not persecute anyone and that only those who are guilty of crimes against the Nigerian people need to be afraid. There are two planks to the issues raised

‘Jonathan said his government took hard decisions that stabilized certain things and feared he and his ministers will be persecuted for them. The immediate question this evokes is why should it be so?’

Emeka OMEIHE 08112662675 email: EmekaOmeihe@yahoo.com

Jonathan and price of change by Jonathan. This first has to do with what he perceives as the likely attitude of the incoming government to some of the decisions of his regime. The other relates in the main, to the conduct of trusted friends and close collaborators once there is a change of government. The two issues are weighty and fundamental. And in them you are likely to find some of the problems that have overtime worked against the progress and development of this country. In them also, you can locate the subsisting attitude of leaders and followers alike that have continued to pose serious impediments to statecraft. For us to make real progress, the disruptive influences of these issues on governance need to be closely studied and remedial measures taken. Jonathan said his government took hard decisions that stabilized certain things and feared he and his ministers will be persecuted for them. The immediate question this evokes is why should it be so? Its corollary is why any leader in his right senses should persecute his predecessor for hard but welltailored decisions? These are the issues to ponder. Apart from the electoral process, Jonathan did not mention those other hard decisions that brought stability to the economy for which he fears persecution. But the overall impression he conveyed is that such decisions are in the overall public good as they will lead to the greatest good of the greatest number. He captured that much when he said “if you take certain decisions, it might be good for many but it might affect others differently”.

EHIND every dark cloud as it is said, there is a silver lining. The spontaneity which greeted the appointment of Solomon Arase to the seat of the Inspector General of Police on the heels of the exit of his predecessor Suleiman Abba inferred just that and was perhaps not out of place. Over the past several years, the Nigerian nation has witnessed a spate of events on which an upset of its precarious equilibrium has widely been prognosticated. The toll of decadence which has engulfed the entire polity makes the celebration of any glimmer of light from the darkness momentous. The Nigeria Police, being the crime-fighting machinery of government has for longer than many would care to recall, been mired in its share of this national opprobrium. In an era when the image of the Force has been so battered, Arase has been working painstakingly to put its image back on its right footing. Through devotion to duty, it is obvious that he is cut out for the kind of problems the Force has continually been encumbered with, as over the years in his various designations as an officer of the Nigerian Police, Arase has displayed an unprecedented ability to adequately understand problems and a fascinating ability to map out strategies to nagging and embarrassing issues, both within the Force and also in combating and controlling crime. This without doubt, underscores the jubilation and wave of relief and hope which attended the appointment to the apex office. When Louis Edet made history as the first indigenous IGP, the level of discipline, dedication and selflessness in the discharge of duties by men officers of the force was admirable, the Force being anchored on profound values and principles shorn of abridgement or perversion with justice in all ramifications. The same cannot be said today. That explained the avalanche of hope that trailed the appointment of Arase; a man believed to possess the ability to correct many of the wrongs in the Force that continue to give it a bad image. Widely respected within the Force, Arase has traversed the labyrinths of the Force emerging as its 18th helmsman through hard work, dedication, focus and discipline. He is a man that can be described as a Tarzan in policing, with peculiar disposition to policing in Nigeria. Over the years, the country has been ravaged by numerous vices ranging from robbery, kidnapping and violence to terrorism while corruption has maintained its unrivalled peak. All these constantly combine to put immense pressure on the Police and expose not just the dearth in logistics and basic requirements to effectively perform its duties but also a lack of vision and practical ways to solving issues by those in leadership positions. Times have changed indeed and the truth is that, the times need agile, intelligent and nimble actors to navigate the country out of its self-imposed perils. It is the belief in several quarters that Arase fits squarely into the mould of that rare

Given his elated office, it is safer to presume he has sufficient grounds to speak in the manner he has done. But for some reasons, he refrained from details. However, the inevitable impression the allegation conveys is that the incoming Buhari government may be embarking on a voyage of witch-hunting and vendetta against his government for some unwholesome reasons. There is also the undertone that the incoming government may be upturning some of these hard decisions he considers good for many for reasons that are less than salutary. That is crux of the matter. Mohammed has dispelled insinuations that his ministers and aides will be persecuted. He said only those who have committed crimes have something to fear. That is the right way to look at the matter. The attitude of the incoming government to policies that are popular but may have affected some other interests differently as alleged is yet to be addressed. There is the need to clear the air on that aspect of Jonathan’s speech. Minister of Finance, Ngozi Okonjo-Iweala appeared to have spoken along the same line when she cautioned against the penchant with which some people are running down the economy through unguarded statements. She reasoned that these utterances some of which are at variance with extant economic indices, could pose serious challenges for or imperil the incoming government. That point goes without saying. Those still concerned with what the out-

going government did wrong or how it mismanaged the Nigerian economy may want to paint the picture of an economy that has gone awry; where nothing is working. But in this desperation to discredit that regime, they inadvertently create a new set of problems for the incoming government. First, the unmistakable impression is created that Buhari is a miracle worker who will find a quick fix for the multi-dimensional problems of this country. Casting the incoming government in that mould may soon create problems for it if the high hopes raised are not quickly met. The other is that it might be a subterfuge for the incoming government in case it is unable to rise to the high expectations generated by its campaign promises. When that happens, attention will be drawn to all the wrongs the Jonathan government allegedly wrought on the economy and the huge time they will require to clean up. That will not impress anybody as we have gone far beyond that point now. Elections have been won and lost and these were the issues on which basis they were fought. The incoming Buhari government will be benchmarked against what it does to put things right rather that finding excuses on the failures of the outgoing government. That is exactly where we are now. The other issue raised by Jonathan is the ease with which trusted friends and close collaborators desert leaders whence they are out of office. Some of them even go at lengths to divulge sensitive information in order to curry favor from the new government. That is the fad. It did not start with Jonathan and will unlikely end with him. It is a malady just like corruption that pervades all strata of our nation’s social fabric. It is propelled and reinforced by the lure and logic of the stomach. With an opposition government coming on stream, such a tendency is expected to be at an all time high. That has been the raison d’être for the embarrassing spate of defections we have witnessed. It has not got much to do with the hard decisions taken by the government but hinges more on lack of principles and desperation to be part of every government in power. It is a lesson for all those in power. But can they reasonably avoid a repeat? That is the moot question.

As Arase takes charge By Jide Adekusibe breed. These numerous challenges over the years continue to increase the fragility of the Force and nothing makes the declining slide more frightening than the resultant consequence of heightening the territorial affronts of crime and other vices. From his antecedents, it may well be surmised that, the harbinger of the wind of change is finally here with the appointment and confirmation of Arase to the office of the IGP. A member of the Nigerian Police Committee on Review of the Nigerian Constitution/Police Act, Arase, with multidepartmental experiences across various arms of the Force including operations, investigation, administration and intelligence is a repository of Nigeria Police history and development. As Commissioner of Police, Akwa Ibom State Command, Uyo from August 2011 to March 2012, Arase developed an anti-robbery and anti-kidnapping operational protocols that proved highly effective in addressing these set of high-level crimes in the state. He is a police reformist whose policing vision is premised on the engagement of intelligence-led policing strategies, community partnership, application of cutting-edge technology to policing functions at all levels, prevention of abuse of pre-trial detention powers and tailormade capacity building initiatives towards the enhancement of the intelligence and operational capacity of the Nigeria Police Force. In line with the recommendations of the Police Reforms, the Force Intelligence Bureau came into being as a complimentary arm of the Force Criminal Investigations Department (FCID) and Arase became its first director. The Bureau is focused on gathering and analysing intelligence for the use of the Police and sister security agencies where Arase undertook landmark reforms and restructuring initiatives, including the establishment of the Gender Unit and the successful sourcing of a $300,000 grant from the Ford Foundation to enhance the operations of the Gender Unit. He also succeeded in establishing a state-of-the-art technical intelligence platform which has restored the primacy of the Bureau as the most strategic intelligence agency in the internal security architecture of the country. The various misdemeanors associated with the Police Force, which relentlessly dent its image and render it ineffective in the performance of its statutory functions partly, tell of bad leadership as well as outmoded operational mechanisms which put the Force at war with it. This calls for examination and a possible overhaul of the modus operandi of the Force;

a prospect the strides of Arase bespeak. At this juncture, it would only be fair to say that despite the crying shortcomings of the Force in relation to its huge expectations and in all the mediocrity and chicanery, there indeed are many dedicated and hardworking officers and men of the Force committed to the service of their fatherland, many leaving impeccable records where they have served. For these people, the time has perhaps come when their efforts can easily be galvanized to better the force and gradually break the structure that impinges on good policing. An accomplished writer and author, Arase is passionate about research and intellectualism. He has co-edited many works, written numerous essays and has a number of awards both national and international in his kitty. He is also a member of several associations including, the International Association of Chiefs of Police (IACP), International Bar Association (IBA) and the Nigerian Bar Association (NBA). Truly, hard work has just been rewarded and we congratulate the new IGP Solomon Arase at his new appointment, wishing him continuous wisdom to meet the new horizons and challenges his new designation offers. The beginning of a new era is when the pride and integrity of the Police is restored and made a strong and formidable institution. It begins with visionary and exemplary leadership, both hallmarks of new IGP, Arase. •Adekusibe, a Security expert writes from Federal Capital Territoy, Abuja.

‘It would only be fair to say that despite the crying shortcomings of the Force in relation to its huge expectations and in all the mediocrity and chicanery, there indeed are many dedicated and hardworking officers and men of the Force committed to the service of their fatherland, many leaving impeccable records where they have served. For these people, the time has perhaps come when their efforts can easily be galvanized to better the force and gradually break the structure that impinges on good policing’

THE NATION MONDAY, MAY 18, 2015

BUSINESS THE NATION

E-mail:- bussiness@thenationonlineng.net

JOBS

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9,000 jobs from backward integration in palm oil - P. 29

‘How Buhari can salvage economy’ - P. 37

News Brief

Nigeria spends $15b on fuel import yearly, says LCCI

Anambra seeks inclusion among oil producing states THE Anambra State government is courting the Federal Government to include it in the league of oil and gas producing states to benefit from the 13 per cent derivation funds that accrue to the oil producing states in the country. –Page 26

By Okwy Iroegbu-Chikezie

N1.7tr lost to adulterated lubricants ABOUT N1.7 trillion ($2billion) is lost to the importation of adulterated lubricants yearly, the Executive Secretary, Lubricants Producers Association of Nigeria (LUPAN), Emeka Obidike, has said –Page 26

‘Tax structure skewed towards oil revenue’ Price WaterHouseCoopers (PwC) has said Nigeria’s tax structure is skewed towards oil revenues as most of the government’s tax revenue is derived from oil. Head of Tax & Regulatory Service, PwC Nigeria, Taiwo Oyedele said petroleum profit tax contributed N2.46 trillion, about 53 per cent of the federal government’s tax revenue in 2014. –Page 31

DATA STREAM COMMODITY PRICES Oil Cocoa

$54/barrel $2,686.35/metric ton

Coffee

¢132.70/pound

Cotton

¢95.17pound

Gold

$1,396.9/troy

Sugar

$163/lb RATES

Inflation

8.4%

Treasury Bills 10.58%(91d) Maximum lending 30% Prime lending

15.87%

Savings rate

91-day NTB

15%

Time Deposit

5.49%

MPR

13%

Foreign Reserve

$34.5b

• From left: Managing Director/CEO, Lagos State Waste Management Authority (LAWMA), Mr. Ola Oresanya; Deputy Managing Director, Mrs. Abimbola Jijoho-Ogun and Executive Director, Sterling Bank Plc, Mr. Lanre Adesanya, during a visit by the management of the bank to LAWMA ... at the weekend.

Maritime operators vow to resist Jonathan’s order on Intels’ facility

ARITIME operators have vowed to resist the directive of the Federal Government requesting all oil and gas vessels to go through Intels Nigeria Ltd’s facility in Port Harcourt, the Rivers State capital. They said they would divert cargoes billed for Nigeria to neighbouring countries if the order was not reversed. President Goodluck Jonathan, in two separate letters dated April 27, this year and made available to The Nation, had expressed the decision of his government to make Intels handle all oil and gas vessels or cargoes. The Association of Nigerian Licensed Customs Agents (ANLCA) said the directive would create a monopoly, adding that it would instruct its members and principals who handle oil and gas cargoes to, henceforth, direct their vessels to neighbouring countries to make it difficult for Intels to

By Akinola Ajibade

dominate transactions in the industry. Its National President, Prince Olayiwola Shittu, said the directive of the government was improper, arguing that it would encourage monopoly in the maritime sector. He said: “What the Federal Government has done is very irresponsible. What they are doing is creating a monopoly that is anti-people, and not in the interest of the economy. “Everybody should have a choice of where they want to take their cargoes to. The government concessioned the ports, all of them (concessionaires) signed the same documents. Why do you have to force people to take their cargo to Intels ... so that they can charge them in dollars, and not only that, their charges are 300 times more than the regular charges in other ports. “We have started our cam-

paign also to call for the boycott of all Intels’ ports facilities. In addition, we are prepared to take our oil and gas goods through Cotonou. If that discrimination is going to happen, then we go through the border. “It is very unfortunate because Intels have been a problem and it is like a country, a sovereign of its own. That is because the promoters are holding the jugular of the government and Nigerians. It is very unfortunate.” Shittu condemned the outgoing government for embarking on some recent controversial appointments which he described as deliberate plots to create problems for its successor. “Like many things the outgoing government is doing now, I think they are just out to create problems for the new administration.We should be talking about the incoming government, not the outgoing one that is just creating boobytraps all over the place for its successor,” he said.

He urged the incoming the President-elect, Gen. Muhammadu Buhari (rtd) to explore the potential in the maritime industry for growth, adding that the sector is a viable means of generating revenue for the economy. He said: “If we can raise about N7 trillion annually from the industry, and our current budget is N4-5 trillion, then we should be able to break-even. “So the incoming administration should look into all these; all the hurried appointments and commitments they are making now, the first step for them is to repudiate all these actions they know are not in the interest of the common man.” The government’s directive came on the heels of the sack of Mallam Habib Abdullahi as the Managing Director of the Nigerian Ports Authority (NPA) and the subsequent appointment of Mr Sanusi Ado Bayero as his successor.

IGERIA, the sixth largest oil produc ing country in the Organisation of Petroleum Exporting Countries (OPEC), spends an estimated $15billion yearly on the importation of petroleum products, the Lagos Chamber of Commerce and Industry (LCCI) has lamented. Its Director-General, Mr. Muda Yusuf, who spoke in Lagos, has urged the incoming government to halt this huge drain on the nation’s foreign exchange, adding that way forward is to revamp the ailing refineries and encourage private sector participation in downstream oil sector. He said: “Going forward, we need to fix the refineries or incentivise the private sector to play this role he added. The biggest burden on the treasury of government is the importation of petroleum products and the inherent transparency issues. “The biggest platform for corruption in the economy today is the management of subsidy on petroleum products. The pressure it exerts on the government treasury is enormous. An accelerated reform of the oil and gas sector and the passage of the Petroleum Industry Bill (PIB) will mitigate the challenge the subsidy management poses for government finance. This will also facilitate the restructuring and diversification of the economy.” On budget structure, he stressed the scrutinisation of several budget heads to ensure cost-effectiveness and better transparency in the management of public finance. The LCCI boss listed Consolidated Revenue Fund Charges, Service Wide Vote, Presidential Amnesty Programmes, Capital Supplementation and Debt Service as some of the sub-heads to be revisited. “All these budget heads have substantial amounts voted for them in the budget annually. Some of the provisions do not reflect the desired prudence in the management of public funds, adding that huge savings will be made if proper scrutiny of budget heads is made,” he said.

THE NATION MONDAY, MAY 18, 2015

BUSINESS NEWS Africa’s infrastructure spend to hit $180b by 2025 By Muyiwa Lucas

REPORT by Pricewaterhouse and Coopers (PwC) on ‘Capital Projects & infrastructure in East Africa, Southern Africa and West Africa: Trends, Challenges and Future Outlook’ has indicated that infrastructure spends in the region is estimated to grow from $70 billion last year to $180 billion per year by 2025. The report, a copy of which was obtained by The Nation, at the weekend presented the findings of a survey conducted last year of key players in the infrastructure sector, including donor funds, financiers, government organisations and private companies across East, West and Southern Africa, indicated an opportunity-filled future for infrastructure development in sub-Saharan Africa. The sectors surveyed include water, transport and logistics, energy, mining, telecoms, and real estate, with the main focus being on economic infrastructure. According to the report, dealing with Africa’s infrastructure backlogs and its future demands is high on the agenda of leaders and civil societies on the continent and abroad. It also noted that while the continent’s infrastructure lags behind that of the rest of the world with some 30 per cent in a dilapidated condition, yet, there is widespread recognition of the vast business opportunities on the continent as a growing consumer market as well as the vast opportunities for infrastructure investment and development. Capital Projects & Infrastructure (CP&I) Leader for PwC Africa, Mr. Jonathan Cawood, explained that the shallow economic recovery in most developed markets has led to a shift of focus to faster-growing regions, including infrastructure development sector. He said expressed the confidence that with an abundance of natural resources and recent mineral, oil and gas discoveries, demographic and political shifts and a more investorfriendly environment, the investor spotlight shines brightly on Africa. “While the recent shifts in oil price, currency and internal security challenges may impact in the short term, the fundamentals for growth haven’t changed. Hence, we believe the outlook for infrastructure development and economic growth remains positive. A peaceful transition to a new ruling party in the recent elections has injected further optimism and confidence,” Cawood said. He said infrastructure plays key roles in economic growth, reducing poverty, and having between five and 25 per cent annual return on investment as an economic multiplier. He said countries that have been most successful in developing and maintaining infrastructure have established programmes of prioritised investment opportunities with a number of features, including clear political support, a proper legal and regulatory structure, a procurement framework that can be understood by both procurers and bidders, and credible project timetables.

Anambra lobbies for inclusion among oil producing states T HE Anambra State gov ernment is courting the Federal Government to include it in the league of oil and gas producing states to benefit from the 13 per cent derivation funds that accrue to the oil producing states in the country. Governor Willie Obiano told The Nation in Houston, Texas, that he had gone to present the proposal for inclusion of the state in the oil producing states to President Goodluck Jonathan but the president stated until the state begins export of oil, it would not be recognised as one. Obiano said the oil field located in the Anambra basin produces about 2,500 barrels per day (bpd). He said production from the oil field has reached about 65,000 barrels and when it hits about 120,000 barrels, the state will make its first oil export. He also said he is talking with some investors who will build refinery and airport in the state on build, operate and transfer (BOT) arrangement. The investors

• Attracts $2.5b investments By Emeka Ugwuanyi

will build the refinery on agreed terms, operate it for an agreed period and transfer it to the owners. He noted that the state owns an insignificant stake of about five per cent but he is making efforts to bring investors for the sake of industrialisation and job creation. The refinery, according to him, will start with 25,000 bpd capacity and later ramped up to 50,000 bpd. The airport, he said, would begin as a cargo airport where the materials needed in the state would be brought and goods, especially some byproducts from the refineries can be exported before expanding it into a passenger airport. He also asserted that there is conflict or controversy in the ownership of the state’s oil producing asset, adding that the

claim of ownership of the asset by Kogi people was politically motivated, adding that the issue has since been resolved. He noted that the oil field is 22 miles into state, therefore, the ownership contest shouldn’t arise. He said the state’s internally generated revenue (IGR) has increased by over 100 per cent since he took over. According to him, he inherited an IGR of N500 million but it has risen to N1.1 billion and he intends to raise it to N3.3 billion by this year’s end. “I cannot imagine myself as a renowned banker operating an IGR of N500 million in a state such as Anambra,’’ he said. He also said since he came in as the governor a year ago, he has been able to attract investments of between $2.2 billion and $2.5

billion in some sectors of the state’s economy. For instance, in agriculture, he mentioned the development of $250 million farm by Coscharis Farm Limited, adding that the company is also building a $150 million tomatoprocessing plant in the state, which is the first of its kind in Africa.The Coscharis Farm is located on 2,700 acres of land. Obiano said he wants to make Anambra an investor destination and he is starting with security. He reiterated his resolve to wipe out kidnappers and all types of crimes and vices. The state government, he said, is committed to providing steady power supply through the establishment of embedded and captive generation to reduce the cost of production of goods and services. He stressed his plans to make education and other vital areas of the economy that enhance standard of living accessible and affordable.

• From left: Group Managing Director, Courteville Business Solution Plc, Mr. Adebola Akindele; Executive Director, Business Development, Nigerian Stock Exchange (NSE), Mr. Haruna Jalo-Waziri; Chairman, Courteville Business Solution Plc, Group Capt. Salami (rtd) and Head, Corporate Services Division, NSE, Mr. Bola Adeeko at the “Facts Behind the Figures” presentation by Courteville at the Exchange in Lagos.

Govt loses N1.7tr to adulterated lubricants yearly

BOUT N1.7 trillion ($2billion) is lost to the importation of adulterated lubricants yearly, the Executive Secretary, Lubricants Producers Association of Nigeria (LUPAN), Emeka Obidike, has said He said the use of adulterated lubricants leads to the breakdown of machinery and automobiles because there are no additives or ingredients to protect the engine, such as anti-wear and anti-cohesion According to him, there is high demand of machine parts in the country because the rate of breakdown is high. He said the lubricants that are supposed to last for three months serves only one week, saying it is a huge economic loss to the nation Speaking in Lagos at the weekend, Obidike said plans had been concluded by

By Ambrose Nnaji

the association to call a stakeholders’meeting, including the Department of Petroleum Resources (DPR), Standards Organisation of Nigeria (SON), Consumer Protection Council (CPC), Major Oil Marketers Association of Nigeria (MOMAN) and the Independent Lubricant Plants in the country to discuss ways to end the importation of substandard products into the country adding that the association may go to the extent of taking some legislative back up if need be to ensure that the sector is sanitised. The executive secretary said the major raw materials for lubricant manufacturing (base oil) has been granted a new HS Code by the Federal Government with a duty rate of five per cent while the imported finished lubricant has also been granted 30per cent duty rate

also with a new HS Code, adding that operators in the industry had appealed to the government for this initiative over the past 35 years. The government efforts, he said, would not only encourage local manufacturing but also make it less attractive to import finished product. Again, the development will accelerate growth; generate employment as well as ensure adequate protection of the local industry, he said, adding that many people will now find it more attractive to set up a lubricant plant than to import. He said: “Setting up a lubricant plant will attract a lot of benefits such as increase employment opportunities in the sector “It is a big problem where someone had invested so much to set up a company and somebody goes at the backyard and puts up ordinary raw mate-

rial, packages it and puts colour, and you that have invested so much, employ people run at loss,” he said.

Shareholders laud Custodian & Allied over dividend payout Omobola Tolu-Kusimo

HAREHOLDERS of Custodian and Allied Plc have commended the board and management of the company for consistently paying dividend since its listing on the Nigerian Stock Exchange (NSE) 20 years ago. The commendation came just as dividend of 18 kobo per share was declared and approved in respect of the results of the 2014 financial year at the company’s 20th Annual General Meeting (AGM) in Lagos. The group’s gross revenue crossed N25 billion as its profit before tax rose by 18.73 to N5.1 billion while earnings per share rose by 11 to 70 kobo. National President, Shareholders Association of Nigeria (ASN), Shehu Ibrahim, said shareholders were excited that the company had recorded impressive results over the years and had achieved same last year. He said the strict regulation adopted by the National Insurance Commission (NAICOM) also assisted in sanitising and ensuring steady growth in the insurance industry. A shareholder, Sunday Anono, said he was happy that the board and management declared dividend in its 20 years of existence. He said most competitors in the industry have not been able to achieve this feat and urge the board and management to improve on what they delivered in the 2014 operating year. A shareholder Akinsanya Sunday urged the board and management to declare bonus next year as the last time it did was 10 years ago. Kabiru Sarunmi noted that operating expenses reduced from N17.1 billion in 2013 financial year to N16.5 billion in 2014 financial year. He urged the board and management to work at reducing management expenses which increased from N3.5 billion to N4.1 billion in the year under review. Chairman of the company, Chief Michael Ade-Ojo said in spite of the tough economy, regulatory problems and myriad of challenges of last year, the company did not only survive but progressed on all fronts during the year.

‘How to reduce food prices’

HE Federal Govern ment has been urged to increase agricultural productivity and value addition if it is to reduce food prices and import. The Deputy Director-General (Administration), Agricultural and Rural management Training Institute (ARMTI), Dr Ademola Adeyemo, said there was need for massive national effort to promote key commodity value chains and achieve self sufficiency in food production. He urged the government to focus on improving food security and reducing hunger as the population increases. To achieve this, he advised the government to produce high quality policy pro-

grammes and projects reduce poverty and hunger as well as adequate dialogue among stakeholders. He called on the government to improve on data collection to help address various issues facing the agric sector. Right now, he said researchers and agric businesses need data of national level significance on livestock fisheries, land management and forestry. Such information, he noted, is critical for business planning. For the economy to expand, he said investors and operators in each commodity value chain needs information to identify opportunities and threats to enable them develop strategies for effective development of the value chain.

THE NATION MONDAY, MAY 18, 2015

BUSINESS INTERNATIONAL

SABMiller buys Meantime to give exposure S

ABMiller (SAB.L) is buying Britain’s Meantime Brewing Company to give the owner of big brands Peroni and Grolsch exposure . A surge in demand for craft beers in recent years has stolen market share from the world’s two biggest brewers, SABMiller and AnheuserBusch InBev (ABI.BR), as drinkers seek new tastes and support niche, local suppliers. Sales volumes of Meantime’s beers including London Pale Ale and London Lager soared 58 percent in 2014, compared with a 1 percent rise in Britain’s beer market as a whole. The more richly flavored craft beer also sells at a premium to standard lager, another draw for SABMiller. However, some supporters of craft beer say brands such as Meantime, which was founded in 1999 with the backing of a group of friends in a former tramshed in Greenwich, south London, risk losing their appeal if they sell out to a global brewer. “I probably won’t be drinking Meantime anymore,” said Jeff Rosenmeier, founder of the Lovibonds craft brewery in Henleyon-Thames, southern England, though he conceded most drinkers

wouldn’t notice and only “beer geeks” would turn away from it. “Lame, lame, lame,” wrote one craft beer fan on Twitter, while another said “Goodbye to a indie brewery success story”. Meantime chief executive Nick Miller, who joined from SABMiller in 2011, rejected the criticism. “Why would Meantime suddenly not become a craft beer just because it’s got a different set of shareholders?” he asked on a call with reporters. “Are you telling me that shareholders determine whether you’re craft or not? Surely it’s about the liquid, the beers that you produce, and the passion that you have for producing beer?” Meantime’s founder Alastair Hook, its brew master, and Miller will continue to be part of Meantime following completion of the deal, expected in early June. SABMiller said it aimed to grow sales of Meantime’s beers across Britain and use its distribution networks to export it to other markets in Europe. AB InBev bought Goose Island, a U.S. craft beer brand, in 2011, and in

the past year acquired craft names Blue Point and 10 Barrels, prompting a backlash on social media, with the three brands featuring on the website “Craftbeerblacklist”. SABMiller’s U.S. joint venture with Molson Coors, MillerCoors, already sells Blue Moon in that country, another beer that plays in the craft beer category, although it has also faced some criticism.

Despite that, analysts welcomed SABMiller’s expansion into a fastgrowing market. “The variety of styles added to SAB’s extensive local and heritage beer menu should serve it well,” Accendo Market’s Mike van Dulken said. SABMiller shares were up 1.2 percent at 3,644 pence at 1120 GMT (7.20 a.m. ET), within a UK blue-chip in-

dex up 0.3 percent .FTSE. The financial terms of the deal were not disclosed, but will be small in the context of SABMiller’s market capitalization of 58 billion pounds ($91 billion). SABMiller sold 245 million hectolitres of lager in 2014, compared with Meantime’s annual capacity for production of 120,000 hectolitres.

Russia’s economy falls in first quarter as woes mount

HE Russian economy has contracted in the first three months of 2015 because of low oil prices, weaker spending and sanctions from the West. It shrank by 1.9 per cent between January and March compared to the previous year, according to the Russian statistics agency. That compares to annual growth of 0.4 per cent in the previous quarter. President Vladimir Putin has said the government expects Russia’s economy to start growing again next year. But the European Bank for Reconstruction and Development says that it expects the economy to contract by 4.5 per cent in 2015 and 1.8 per cent in 2016. The country has hit been hard by a sharp fall in oil prices in the past year, its main export, as well as by sanctions imposed by the West over the Ukraine crisis. “The best that can be said about Q1 GDP [first quarter gross domestic product] data from Russia is that the economy has avoided outright collapse and is, instead, merely on the cusp of recession,” says Neil Shearing, chief emerging markets

economist at Capital Economics. Prime Minister Dmitry Medvedev had previously predicted a two per cent decline in the first quarter of 2015. “Though better than expected, this is still a painful fall for any economy,” said Craig Botham, emerging markets economist at Schroders. “Further contraction seems inevitable given the lagged effect of monetary policy and the fiscal tightening underway,” he added. Meanwhile, the Russian central bank has extended anti-crisis measures aimed at helping banks that have suffered from the low value of the rouble and sanctions in Ukraine. It initiated the measures in December and initially intended to end them in July. Now, they will not do so until October. The value of the rouble has slumped 30% against the US dollar over the last 52-week period. The weak currency and inflation has hit spending in Russia. “Consumers in particular have borne the brunt of the economy’s problems, with real wages contracting by 8.4% year-on-year in Q1,” says Mr Shearing

Russian business delegation for Egypt

HE biggest Russian business delegation will visit Egypt from May 25 to May 26, to discuss ways to promote and diversify bilateral economic relations between the two countries, RussianEgyptian Business Council said in a statement . More than 300 Russian businessmen, headed by Russian Minister of Industry and Trade Denis Manturov will attend the two-day meetings in Cairo, the statement read. Egyptian Minister of Trade and Industry Mounir Fakhry Abdel Nour along with Investment and International Cooperation ministers are expected to attend the meetings. “Russian and Egyptian businessmen will discuss investment, banking, agriculture, innovation, construction and commercial aviation,” CEO of the joint business council, Mona Khalil, said in the statement. Khalil added that Russian phar-

maceutical companies are interested in opening production lines in Egypt. During President Abdel Fatah alSisi’s first visit to Russia in August, Cairo and Moscow had agreed to establish a Russian industrial zone in Egypt as part of the Suez Canal Axis project. Trade volume between the two countries amounted to $5.5 billion in 2014, according to the State Information Service. Last week, Sisi paid his second visit to Moscow to participate in the celebrations of the 70th anniversary of Russia’s Victory Day per an invitation from the Russian President Vladimir Putin. Russian investments in Egypt stood at $65.62 million in January 2013, with 383 Russian companies investing in the country. Meanwhile, Egyptian investments in Russia amounted to $13.7 million in December 2012.

•, Managing Director, Premium Pension Limited, Mr. Wilson Ideva; Chairman, Mr. Aliyu Dikko, and Company Secretary, Mr. Nasiru Idris Shall, during the company’s 10th Annual General Meeting (AGM) at its corporate headquarters in Abuja.

Consumer sentiment plunges in U.S.

ONSUMER confidence unexpectedly fell in May by the most in more than two years as Americans’ views on the economy dimmed. The University of Michigan preliminary index of sentiment dropped to 88.6, the lowest since October, from 95.9 in April. The 7.3 point decrease was the largest since December 2012. The outcome was lower than the lowest estimate of 68 economists surveyed by Bloomberg. News that the world’s largest economy stalled last quarter shook Americans’ outlook, while the tick up in fuel costs since early March also contributed to the gloomier perceptions. While slightly lower than in the prior month, households still held relatively upbeat views on incomes, a sign spending will be sustained. “The decline was widespread among all age and income subgroups as well as across all regions of the country,” Richard Curtin, director of the Michigan Survey of Consumers, said in a statement. “To be sure, the recent decline in consumer confidence does not indicate an incipient downturn in consumption and residential investment. Rather the data indicate a reluctant acceptance on the part of consumers that economic growth will remain near the same lackluster pace recorded during the past several years.” The median projection in the Bloomberg survey of economists called for an unchanged reading

at 95.9. Estimates ranged from 91.4 to 97.5. The gauge averaged 88.8 for the five years leading to the last recession that started in December 2007. The average for 2014 was 84.1. The index has shown bigger declines than in May in only 20 months since the monthly surveys began in 1978. Another report showed factory production stalled in April as American manufacturers were dealt blows by a strong dollar and cheap oil. The unchanged reading in output followed a 0.3 percent March gain, according to data from the Federal Reserve. Total industrial production declined for a fifth consecutive month as mining companies and utilities cut back. Stocks fluctuated near all-time highs after the reports. The Standard & Poor’s 500 Index fell 0.1 percent to 2,118.25 at 10:38 a.m. in New York. The sentiment survey’s current conditions index, which takes stock of Americans’ view of their personal finances, fell to 99.8 from the prior month’s 107. The measure of expectations six months from now decreased to 81.5 from 88.8. “The data nonetheless suggest that consumers remain optimistic about their future personal finances and have maintained their buying plans are reasonably favorable levels,” Curtin also wrote. Americans expect the inflation rate in the next year will be 2.9 percent, compared with 2.6 percent in the April survey. Over the

next five to 10 years, they expect a 2.8 percent rate of inflation, compared with 2.6 percent in the previous month. Regular gasoline cost $2.69 a gallon at the pump on Thursday, according to AAA, the biggest U.S. motoring group. While the price has ticked up from a sixyear low of $2.03 reached in late January, it is below the $3.64 consumers paid at this time last year. The labour market continues to underpin consumer spending. Payrolls climbed by 223,000 in April following a 85,000 gain, and the jobless rate fell to 5.4 percent, the lowest since May 2008, according to Labor Department data released last week. Wage gains, though, remain tepid. Hourly pay was up 2.2 percent in April from a year earlier, holding within the narrow range tracked over the past four years. The Michigan sentiment report shows a bigger retreat in confidence this month than other measures. The Bloomberg Consumer Comfort Index fell to 43.5 in the period ended May 10, the lowest level since early March. Recent reports indicate consumers remain reluctant to open their wallets. Sales at retailers barely budged in April after a 0.2 percent drop from January through March that marked the first quarterly decline in almost three years. Store chain results reflect some of the weakness. Quarterly sales trailed analysts’ estimates at Kohl’s Corp. and J.C. Penney Co., the retailers reported this week.

THE NATION MONDAY, MAY 18, 2015

SPECIAL REPORT

Lafarge Africa leads building materials sector

HAREHOLDERS of Lafarge Africa Plc are in for wider dining tables as they meet this week to consider the annual report and accounts of the cement company, including a recommendation for distribution of N16.4 billion as cash dividends to shareholders. Shareholders will not only receive immediate cash, they are the biggest gainers so far this year in the building materials sector. Year-to-date analysis of share price movements in the building materials sector showed that Lafarge Africa opens today with the highest capital gain in its sector. Lafarge Africa’s year-to-date gain of 21.99 per cent is not only the highest gain in the building materials sector but it is substantially above the overall market performance and average returns by all other key sectors at the stock market. The All Share Index (ASI), the main benchmark index that tracks prices of all quoted equities, opens with a negative return of -0.63 per cent. The NSE Industrial Goods Index, which serves as benchmark index for the building materials sector, carries a modest return of 3.63 per cent. Nearly all the other cement stocks currently have negative return. Dangote Cement opens today with average year-to-date return of -10.75 per cent, Ashaka Cement carries -6.53 per cent while Cement Company of Northern Nigeria has a modest gain of 1.06 per cent. Four other building materials stocksAfrican Paints, First Aluminium Nigeria, Premier Paints and IPWA have been stagnant while DN Meyer, Paints and Coatings Manufacturing and Portland Paints and Products Nigeria are negative at 4.60 per cent, -17.53 per cent and 6.67 per cent. CAP and Berger Paints are the other two best-performing stocks with 14.67 per cent and 11.11 per cent.

Double returns The board of directors of Lafarge Africa has recommended payment of a dividend per share of N3.60 to shareholders as returns for the 2014 business year. The dividend recommendation showed continuous growth in the company’s payout as it had distributed dividend per

• Shareholders to get N16.4b dividends By Taofik Salako

share of N3.30 and N1.20 for 2013 and 2012 respectively. The current dividend recommendation is expected to be approved at the company’s annual general meeting on May 22 and it will thereafter become payable on May 25, 2015. However, only shareholders on the book of the company as at April 27, 2015 would be entitled to the dividend payout. Key extracts of the audited report and accounts for the year ended December 31, 2014 with an operational profit after tax of N37 billion, eight per cent higher than prior year, after adjusting for oneoffs. Cash of N49 billion was generated from the operations. Consolidated revenues were flat at N206 billion when compared to 2013. The operations showed a growth of eight per cent cushioning the short-term market challenges in South Africa. Earnings before interest, taxes, depreciation and amortisation (EBITDA) was relatively stable at N55.3 billion in 2014 compared to N55.7 billion in 2013, with Nigeria growing by 16 per cent. For the first quarter ended March 31, 2015, Lafarge reported a revenue of N57 billion in the first quarter, 15 per cent higher than comparable period of 2014. Profit after tax was N8.6 billion and N14.6 billion of cash was generated from operations. Chairman, Lafarge Africa Plc, Chief Olusegun Osunkeye, described the company’s performance as a good one noting that even in a volatile market, the company has affirmed its strength and commitment to achieving excellence. Group Managing Director, Lafarge Africa Plc, Mr. Guillaume Roux, said the group’s business combination plans have been well executed within set timelines. “We are committed to improving operational performance by leveraging on opportunities this presents to us to deliver sustainable returns to our shareholders,” Roux said. On its outlook, the company

stated that it expected cement demand to increase both in Nigeria and South Africa in 2015. “In Nigeria, the demand growth should be supported by increasing needs for housing and infrastructures, but could be lower than normal growth levels given the exchange rate development. This should be partly cushioned through the South African cash flow. We remain very optimistic and highly committed to delivering innovative building materials while leveraging on the operational strength and pedigree of the Lafarge Group,” Lafarge stated.

Larger capacity The creation of Lafarge Africa has transformed the company into a group which is well equipped to continue its growth notwithstanding challenges in the market place. The company’s current production capacity has grown from 4.5 million tons to about 12 million tons. In addition, 3.5 million cubic meters of ReadyMix concrete and over 5.0 million tons of aggregates have been added to the portfolio. The latest performance underlined the success of the consolidation of the company’s businesses. Lafarge had on July 9, 2014 received shareholders’ approval to consolidate its cement businesses in Nigeria and combine these with South African operations to create a leading subSaharan building materials giant to be known as Lafarge Africa Plc. The consolidation was done by transferring Lafarge’s assets in South Africa and Nigeria to Lafarge Cement Wapco Nigeria Plc. Under the transaction, Lafarge Group transferred its direct and indirect shareholdings in Lafarge South Africa Holding Limited of 72.4 per cent and its equity stakes in three other cement companies in Nigeria-United Cement Company of Nigeria (Unicem) Limited, 35 per cent, Ashaka Cement Plc, 58.61 per cent and Atlas Cement Company Limited, 100 per cent to Lafarge Wapco for a cash consideration of $200 million and the issuance of some 1.4 billion Lafarge Africa

shares to the Lafarge Group. Nigerian Cement Holdings B.V.(NCH), an affiliate of Large Africa Plc, has also completed the acquisition of the first 15 per cent tranche equity stake in Unicem. NCH, which is owned 50 per cent by Lafarge Africa, had 70 per cent equity stake in Unicem and with the acquisition, it has now increased its stake to 85 per cent. NCH had in November 2014 entered into an agreement with FMN Cement Industries Limited, a wholly owned subsidiary of Flour Mills of Nigeria Plc to acquire its 30 per cent investment in Unicem. The completion of the acquisition of the first tranche of 15 per cent paves the way for the acquisition of the second tranche of 15 per cent, which is scheduled for on or before February 2016. Lafarge Africa also recently increased its majority equity stake in Ashaka Cement to 82.46 per cent. This followed the completion of the mandatory tender offer (MTO ). Following the consolidation of Lafarge’s businesses in Nigeria and South Africa into Lafarge Africa, Lafarge Africa had acquired 58.61 per cent majority equity stake in Ashaka Cement. The majority equity stake was previously held by Lafarge Nigeria (UK) Limited. Lafarge Africa then in late December 2014 launched an MTO to acquire the remaining 41.39 per cent equity stake held by other shareholders in Ashakacem in furtherance of the consolidation of Lafarge’s businesses. Lafarge S.A. of France now controls 72.74 per cent of Lafarge Africa, the remaining 27.26 per cent is held by Nigerian and foreign, institutional and individual investors. Lafarge S.A. of France is a world leader in building materials with a presence in 62 countries across the Globe. Consequently, Lafarge Africa is able to take advantage of and benefit from Lafarge S.A.’s management and technical expertise. “Our company has delivered a good performance in spite of the general elections and market uncertainty. We remain highly committed to delivering a strong result in 2015 in line with our ultimate objective of improving value to our

Chief Osunkeye

shareholders,” Osunkeye said on the outlook of the company. “We have achieved stability in our operations, marked by our solid performance. The consolidation of our businesses and expansion projects presents an excellent foundation for future growth. Our management team is fully mobilized to deliver operational excellence whilst also leveraging on the strength of the Lafarge Group,” Roux said.

New Leadership Meanwhile, Osunkeye will retire voluntarily as chairman after the annual general meeting, having served as a director for 14 years, five out of which was as chairman. He will be succeeded by Mr. Mobolaji Balogun, who assumes office on May 23. “I am delighted that the board has appointed Balogun to succeed me as chairman. He has a breadth of experience across finance, strategy and management and is very familiar with Lafarge’s business in Nigeria and Africa and I am sure he is the right person to chair the board going forward, after the 2015 AGM,” Osunkeye said. Balogun noted that Lafarge Africa occupies a unique position and he is taking over at an exciting time. “I also look forward to working with Roux and the entire board as we move the company forward,” Balogun assured.

EMPOWERMENT CLINIC

Breaking the barrier of primitive ‘persuasion’ By Goke Ilesanmi

from PDP, other political parties and politicians are also guilty of hate campaigns one way or another.

One major reason

• Ilesanmi

HERE is need to break the bar rier of primitive persuasion and embrace application of effective persuasion if we must move forward as a nation, as individuals, organisations, etc. This is because persuasion is key to general harmony. Persuasion is simply about convincing other people. It is commendable that after the unimpressive performance at the justconcluded general elections, the Peoples Democratic Party (PDP) took stock of its electoral fortunes and admitted that, among other things, the intensity of its hate campaigns (primitive persuasion) accounted for its misfortune at the poll. The fact remains that apart

One major reason for the prevalence of this communication barbarity in Nigeria is ignorance about persuasive communication and effective public speaking skills. That is why most of our politicians abandon articulation or sale of their manifestoes to the electorate and focus on frivolities like character assassination of other contestants. They continue in this crossfire of meaningless campaigns because there is demand for such by the electorate, probably due to ignorance and poverty which prevent them from demanding issue-based campaigns. When I was invited as a guest by the Lagos Television (LTV 8) on Monday, March 23, 2015, five days to the Presidential election, I predicted that the hate campaigns especially embarked upon by the PDP instead of effective persuasion might jeopardise its electoral chances as it was using its resources to indirectly advertise Buhari.

Nigerian concept Beyond politics, the skills of effective persuasion are not applied in almost all areas of our national life. So when it comes to competition for instance, we resort to de-marketing of

competitors instead of applying effective persuasion to achieve positive results. At times, organisations even threaten customers instead of persuading them as it is the case with our electricity companies that bring outrageous bills and threaten you with disconnection. In the workplace for example, employers and managers resort to micromanagement and threat against employees instead of achieving corporate target through persuasion and motivation. Such employers and managers need to read current books like “The Art of Managing People” by Dr. Phillip Hunsaker and Dr. Anthony Alessandra. They can even learn from charismatic corporate leaders like Architect Taofik Popoola, Managing Partner, Artec Practice, formerly Quaditect Consultants. Also most pupils/students cannot perform well because they have teachers who believe in punishment instead of using high expectations to elicit performance in their pupils/students through persuasion and motivation. One of the teachers I will continue to adore in my life is Mrs Shofolahan, the teacher that taught me in Primary Two in those days at St. Joseph Primary School, Okela, Ikare Akoko, Ondo State. Through her effective persuasion and motivation, my class became the best and the result of the last person in my class was always as good as that of the fourth

or fifth position in other classes. In fact the school authorities had to promote her with us to Primary Three because they knew it would be difficult for any other teacher to sustain the momentum of our performance.

Strategies, credibility and favour Establishing your credibility is the first of the strategies you can employ to achieve effective persuasion. As a politician for instance, you can establish your credibility through your transparency and by showing the electorate that you understand their specific needs and challenges. The same thing applies in the workplace for employers. Another thing is to do for others before asking anything from them. According to the reciprocity principle, people feel obligated to give back when a favour has been done for them beforehand. That is why philanthropists like Rochas Okorocha, the late MKO Abiola, etc., were able to win elections with relative ease. Concentrating on issues important to your audience constitutes another strategy of effective persuasion. But politicians, marketers, employers, managers, etc., miss this point in Nigeria and rather focus on what interests themselves.

Never expect an immediate positive response Building your case slowly and steadily will improve your chances of success in terms of persuasion. If you get turned down as a politician or marketer for instance, accept the decision gracefully. There is always another time for you.

Parting words

To achieve competence in persuasion, politicians, etc., need to undergo training in public speaking and persuasive communication. As a manager, employer, etc., you also need to read current books on how to manage people to boost your persuasive and motivational skills. PS: For those making inquiries about our Public Speaking, Business Presentation and Professional Writing Skills programme, please visit the website indicated on this page for details. • GOKE ILESANMI, Managing Consultant/CEO of Gokmar Communication Consulting, is an International Platinum Columnist, Certified Public Speaker/MC, Communication Specialist, Motivational Speaker and Career Management Coach. He is also a Book Reviewer, Biographer and Editorial Consultant. Tel: 08055068773; 08187499425 Email: gokeiles2010@gmail.com Website: www.gokeilesanmi.com

THE NATION MONDAY, MAY 18, 2015

ISSUES Last year, the Federal Government appointed Nigerian Shippers' Council as port economic regulator. Although stakeholders say the Council has, to some extent, brought sanity to the ports, they, however, want in-coming administration to lend support to it on issues relating to international best practices to boost the economy, writes Maritime Correspondent OLUWAKEMI DAUDA.

•Cargo vessel

Hurdles before Shippers’ Council O

NE of the observed lapses in the concession agreement that handed over the nation's ports to private investors in 2006 was Federal Government's failure to appoint an economic regulator. This lacuna, according to operators and stakeholders in the maritime industry, left port users especially Nigerian importers holding the short end of the stick, with no regulator to monitor the activities of port service providers, shipping companies and terminal operators. However, the need to close the gap created by lack of a post-concession regulator of the port system was not lost on government. This was why, having noticed that service providers were taking advantage of the vacuum, government decided to appoint an economic regulator to act as referee in port activities. Consequently, the Federal Government in February 2014, appointed Nigerian Shippers' Council (NSC) as the Economic Regulator of the ports.

More than a year down the line, the NSC is now in the centre of public scrutiny. How has the council fared in its new role as port economic regulator? Has the council delivered benefits to stakeholders in the maritime industry? What have been its major challenges? And how has it positioned itself to continue playing its role under the incoming administration of General Muhammadu Buhari? These are some of the questions agitating stakeholders’ minds.

To the Executive Secretary, NSC, Mr. Hassan Bello, an understanding of the mandate of the council should form the basis for assessing its performance so far. His words: "In our capacity as Port Economic Regulator, our role is to consult, coordinate, moderate and harmonise the various processes and procedures with a view to achieving operational efficiency at our ports. "Where there is unreasonable resistance, we shall not hesitate to apply appropriate sanc-

‘

Where there is unreasonable resistance, we shall not hesitate to apply appropriate sanctions to ensure compliance. We shall remain independent, neutral and consultative and all decisions will be on the buy-in of stakeholders. We are also to assess options for competition; decide on entry rules; regulate on pricing freedom; monitor outcomes

’

tions to ensure compliance. We shall remain, independent, neutral and consultative and all decisions will be on the buy in of stakeholders. We are also to assess options for competition; to decide on entry rules; to regulate on pricing freedom; to monitor outcomes and all that." But has the council delivered on its mandate? Bello said: "Effective regulation requires much more than just competent economic and financial analysis, but must also manage often complex interaction with the regulated firms, consumers, politicians, courts, the media, and a range of other interests." Nigeria's road to a sub-regional hub; while giving insight into what the council is doing, is to create a new port order. Bello said the council has established a new platform for everyone to integrate and make the Nigerian ports the hub in the sub-region and an international logistics centre. According to stakeholders, the new port • Continued on page 30

THE NATION MONDAY, MAY 18, 2015

ISSUES

Hurdles before Shippers’ Council •Continued from page 29

order involves a situation where the cargo is scanned before it is stacked. As the ship is discharging, the cargo is also being scanned, and the image is used by the Nigeria Customs Service (NCS) to commence clearing process in terms of segregating the cargo for whatever line of inspection, such as: green, yellow and red light, as the case may be. "We are working with the Central Bank of Nigeria (CBN), Customs and other relevant stakeholders so that every payment made in the maritime domain is reflected on the platform. In doing this, we have designed a template and standard tariff system that will ensure 30 to 40 per cent reduction in cost to achieve harmony in tariff. This involves all service providers," Bello said. He also explained that the system harmonises every transaction in such a way that transfer of containers to off-dock terminal does not attract extra charge in terms of payment of royalty to the terminal operator. According to him, transfer of containers to off-dock facilities should not attract extra charge, assuring that the practice will be discontinued as it amounts to double charges to the shippers. Explaining further, the NSC Executive Secretary said the idea of harmonising the system creates transparency as the importer trades with certainty as to how much to pay and how long to take delivery of the goods. This new port order, he said, will eliminate all the wastages in the system so that the cost of doing business is reduced. Part of the arrangement is that the owner of the cargo should know when his cargo arrives to prepare him to make arrangements to clear his goods in good time. "We are also working to streamline and professionalise freight forwarding to strengthen its position in the ports. We prefer to have them in companies rather than individuals," Bello added. According to him, in doing all these, the council is not competing with any government regulatory agency, but thrives to actualise the mandate of making Nigerian ports the hub in the sub-regional and international logistics centre.

Operators, stakeholders react. The President, Association of Nigerian Licensed Customs Agents (ANLCA), Price Olayiwola Shittu, said his group was aware that Bello was not happy that the nation's seaports have lost their comparative advantage in terms of cost, especially in cargo clearance and that the council is set to make the seaports attractive. Bello, the ANLCA Chief said, is determined to ensure that the country recoups its losses and also restore stakeholders' confidence in the seaports. He, however, said the problem of the ports came about before the Federal Government appointed the NSC as an economic regulator, after the ports were concessioned. Shittu said this was responsible for the legal tussle the council is fighting and the inability of Nigerians to reap the full benefits of the port reform programme of the government. Shittu, however, said the involvement of stakeholders is an important source of legitimacy and public acceptability for regulatory agencies and their decision-making procedures. As a start-off, the NSC, he said, met with all stakeholders, including clearing agents, shipping agents, importers and private terminal operators to understand the challenges facing them individually and how to resolve the problems and unite the stakeholders. The Nation learnt that the council also met and received the support of the Nigeria Ports Authority (NPA), whose former managing director, Mallam Habib Abdullahi, affirmed that ‘’it would amount to failure on the part of NPA if the NSC fails’’. At the meeting, Abdullahi said he was ready to cooperate and support the council in its new role as the economic regulator. The council also had similar consultations with the NCS and the CBN. At these meetings, the chief executive officers of the agencies gave assurances of their support. A senior official of the Federal Ministry of Transport, who craved anonymity, said after the implementation of the Federal Government's port reform programme, which led to the concessioning of port terminals, the importers and other stakeholders noted a vacuum, namely the absence of an economic regulator

•Minister of Finance Dr Okonjo-Iweala

•Bello

•Shittu

to act as a referee. This vacuum, the official said, made it difficult for Nigerians to enjoy the gains of the programme. "The inefficiency in the procedures and operations of agencies and port users is adversely affecting and undermining Nigeria's competitive advantage in international trade, which Bello is now set out to correct," the official said, adding that the effective regulation being put in place by Bello is gradually paying off. "The benefits of a regulated port industry, which Bello is trying to establish at NSC, would lead to improved revenue generation, infrastructural development, creation of efficient market, reduction of cost of business and improved Global Competitive Index and consequent attraction of Foreign Direct Investment (FDI)," the official emphasised. Another senior official of the council, who does not want his name in print, however, said the regulator needs to provide a level playing field amongst competitors, as the regulator needs to be independent, transparent, legitimate and credible. He added that the global competiveness of Nigerian ports has a major role to play in the attraction of FDI. Regulation, a win-win for all. Terminal operators are believed to be top beneficiaries of the emerging port order ocassioned by the coming of a port economic regulator. Part of the benefit is the protection of their investments from undue interference. This leads to guaranteed return on investment and increased profitability; predictability in processes and procedures; assurance of level playing ground; availability of Common User Information Service provided by the regulator; strengthening of complaint and arbitration mechanisms, among other benefits. Apart from the private terminal operators, the government will also enjoy improved revenue generation; improved infrastructural development; creation of efficient market; reduction of cost of doing business; improvement of the nation's Global Competitive Index and consequent attraction of FDI. For the shipping companies, there will be improved delivery of marine and terminal handling services, leading to reduced turnaround time of vessel and reduced cost of vessel operations. There is also the benefit of improved image due to increased customer confidence, transparency, efficiency and effectiveness and consequent improvement in image. The presence of an economic regulator ensures the strengthening of complaint and arbitration mechanisms, prompt issuance of Ship Sailing Certificate and consequently, avoidance of demurrage accumulation against shipping companies and other effects. For the freight forwarder, it ensures professionalisation of freight forwarding practice. This, on its own, leads to elimination of

touting, sanitisation of the port environment, and harmonisation of clearing processes and procedures, and consequently, reduction of clearing charges. The NPA will also enjoy the effect of the presence of an economic regulator because it will lead to enthronement of clearer Standard Operating Procedure (SOP) derived from International Laws (Conventions) and Practices. The NPA will also enjoy transparency, efficiency and effectiveness and consequently, improvement in image, improved revenue generation, improvement of competitive advantage in the sub-region, and strengthening of complaint and arbitration mechanisms among others. The NCS is not left out either. The emergence of the economic regulator will translate to improved revenue collection, enthronement of clearer Standard Operating Procedure (SOP) derived from international conventions and practices, improved level of compliance by importers, exporters and freight forwarders and others. Above all, the ultimate beneficiaries are the consumers. The economic regulator will ensure harmonisation of clearing processes and procedures and the consequent reduction in cost and time of cargo clearing, reduction of Cargo Duel Time, in particular, and generally the trade cycle. When the new port order comes on stream, providers of haulage services will also enjoy decongestion of port access roads, leading to improved truck transit time at ports; there is also the ability of re-fleeting of rickety trucks; installation of electronic gating and call system guaranteed loading opportunity for truckers. A regulator's many challenges are exciting as the benefits of an economic regulator for the ports. For instance, the council encountered one of its challenges in the course of performing its duty in October last year. That was when, in consonance with its new roles, the council published notices directing shipping companies and terminal operators to reduce certain charges, increase free storage time, and announced interventions in other levels of pricing. The move did not go down well with shipping companies and terminal operators, who filed two separate actions against the council and obtained interim injunctions restraining it from implementing the directives contained in its notices to them. The substance of the actions challenged the exercise of powers of the council and questioned the validity of the council's appointment as the economic regulator by the government. Not done yet, 12 shipping line agents under the umbrella of Association of Shipping Line Agents, filed a suit seeking court's declaration that the council does not have the power to introduce or impose local shipping charges on them, and that the notices issued

by the council were illegal. In the counterclaim, the council had sought for the 'Shipping Line Agency Charge' levied by the plaintiffs to be declared illegal, and for payments collected thereby to be refunded. Delivering judgment on the two similar matters, Justice Ibrahim Buba of the Federal High Court agreed with the counsel to the NSC, Mr. Emeka Akabogu that the NSC was properly appointed and empowered by virtue of the Constitution of the Federal Republic of Nigeria to undertake its role as an economic regulator. Justice Buba ruled that in the clear absence of any existing law in Nigeria making provision for an economic regulator for the ports, Section Five of the Nigerian Constitution was the adequate basis for the President to issue orders in relation to the subject, as government exists for the welfare of citizens. The court thus affirmed that the NSC was validly appointed as the economic regulator for ports in Nigeria and could exercise powers in that regard. The court further ruled that the 'Shipping Line Agency Charge' (SLAC) being collected by the shipping companies is illegal. The court, therefore, ruled in the case filed by the shipping companies that the plaintiffs should render account and refund all money collected under the heading of 'SLAC', declaring that it is illegal. Responding to the court cases, Hassan Bello said: "We've resisted attempts to increase charges and we said no to impunity, economic brigandage, fleecing of Nigerians." It was not the only hurdle before the council. The council also had to take on other responsibilities adjunct to its core mandate, which included the conceptualisation of Inland Container Depots (ICDs) and Container Freight Stations (CFS). The Council was also the arrowhead of the creation and nurture of the Council for the Regulation of Freight Forwarding in Nigeria (CRFFN). Beyond that, the Council, in its efforts to protect the interest of Nigerian shippers, has, for a long time, been perceived as a toothless bulldog because of the divergent interests operating at the nation's seaports and the lackadaisical attitude of those in power. For instance, for many years, the Council fought unsuccessfully to check the arbitrary imposition of charges by the multinational shipping lines. Moving forward, the consensus is that the appointment of the NSC as economic port regulator was a step in the right direction and that the Council has not fared badly. Operators and stakeholders say there are still a number of issues confronting the nation's shipping sector, which need to be addressed by the incoming administration of Gen Muhammadu Buhari. Some importers, clearing agents and stakeholders, who spoke with The Nation, said prominent among them are competitive pricing, alleged arbitrary charges by shipping companies and other government agencies. They argued that these issues must be resolved so that importers, who patronise the nation's seaports do not suffer unnecessarily in terms of delay and cost. The Shippers' Council, stakeholders say, needs the support of the in-coming administration to regulate effectively the commercial activities of all operators, which include terminal operators, shipping companies, the importers, exporters and clearing agents, among others.

‘The inefficiency in the procedures and operations of agencies and port users is adversely affecting and undermining Nigeria's competitive advantage in international trade, which Bello is now set out to correct," the official said, adding that the effective regulation being put in place by Bello is gradually paying off’

THE NATION MONDAY, MAY 18, 2015

MONEYLINK

Tax structure skewed towards oil revenue, says PwC •N2.46tr profit tax from petroleum

RICE WaterHouseCoopers (PwC) has said Nigeria’s tax structure is skewed towards oil revenues as most of the government’s tax revenue is derived from oil. Head of Tax & Regulatory Service, PwC Nigeria, Taiwo Oyedele said petroleum profit tax contributed N2.46 trillion, about 53 per cent of the federal government’s tax revenue in 2014. Oyedele who spoke during Chartered Institute of Taxation of Nigeria (CITN) annual tax conference in Abuja, said, that in 2014, Nigeria became the largest economy in Africa after the Gross Domestic Product (GDP) was rebased to reflect a more accurate and up to date infor-

Stories by Collins Nweze

mation about different sectors of the economy. He said the value of the 2013 GDP was revised from an initial N42 trillion to N81 trillion adding that the remarkable difference is due to changes in the number of economic activities considered in calculating the GDP. “The new figure took 46 industries and sectors into account rather than 33 which had been used previously. Some of the new industries which made a significant impact on the GDP figures include profes-

sional services, manufacturing, entertainment, water, electricity, real estate and telecommunications,” he said. Oyedele said Nigeria’s tax to prerebased GDP ratio was 12 per cent while post-rebased ratio is eight per cent about five per cent from oil and three per cent from non-oil. The ratio, he said, is one of the lowest in the world compared to 23 per cent in Ghana, 25 per cent in South Africa and 39 per cent in Brazil to mention a few. “Another interesting benchmark though not commonly cited is the tax revenue per capita. This is about N38, 000 for Nigeria compared to

over N450, 000 for South Africa; N200, 000 for Ghana and N1.8 million in the United States,” he said. He said the low level of tax revenue can be attributed to a number of factors including the cumbersome and inefficient tax administration system, high level of tax evasion, ambiguities in the tax laws and insufficient utilisation of tax revenue for social services and visible development. “Some of the key challenges facing the realization of a truly diversified economy capable of generating revenue beyond oil is the difficulty in collecting taxes from the informal sector, which makes up about 76 per cent of the Nigerian Economy.

Sterling promotes educational sector

Heritage Bank boosts financial literacy with My Day as a Banker

ERITAGE Bank has offered school children across the country an innovative way to celebrate this year’s Children’s Day through the ‘My Day as a Banker’ experience. Designed to spice up the May 27th Children’s Day celebration with innovative and fun filled way to experience the world of bankers, ‘My Day as a Banker’ is a Bank-wide activity on Monday May 25th, where selected secondary school pupils will have the opportunity of handling various banking roles such as tellers, customer service associates etc. Managing Director/Chief Executive, Heritage Bank, Mr. Ifie Sekibo said that ‘My Day as a Banker’ is a demonstration of the bank’s commitment to innovation. “Children are very special to us at Heritage Bank, hence we decided to celebrate them in a unique way that offers

opportunity to have fun and learn about banking. ‘My Day as a Banker’ is also Heritage Bank’s unique way of promoting financial literacy among children, which is the core essence of the HB Bud Savings Account, specially designed to promote savings habit among children and youths. In addition to the My Day as a Banker, Heritage Bank has lined up series of fun filled events to mark the Children’s Day Celebration. The events will be anchored by the Heritage Bank Financial Literacy Brand Ambassador, Zuriel Oduwole, the youngest child to have interviewed 9 Incumbent Presidents. The events include Treasure Hunt at School on Wednesday May 20th and at the Bank on Friday May 22nd, during which Pupils are expected to locate their fairy god parents from clues designed for them and get a ticket to the Children’s Day carnival. The god parents are selected

For this reason, the tax authorities seem to focus a lot of their energy on taxing a small number of visible companies and individuals. “Another issue is multiplicity of taxes and unclear fiscal federalism. The Second Schedule of the Nigerian constitution 1999 grants the Federal and State governments the power to legislate on tax matters based on the concept of federalism and the devolution of fiscal powers,” he explained. Oyedele said both the Federal and State government have been assigned specific areas of tax in which they can legislate, but they have some common areas as well.

Group Heads of Heritage Bank, who would package and offer very substantial gifts to the pupils. Furthermore, Heritage Bank will hold a Children’s Day Carnival on Wednesday May 27th at Dreamworld Africana Amusement Park by Chevron Toll Plaza Lekki Expressway – in partnership with Inspiration FM. Customers who have the Heritage Bank children account – “Bud Account” stands a chance to win tickets to the carnival. Tickets can also be purchased at any Heritage Bank experience Centre. The carnival offers exiting fun filled experience including bouncing castle, fun rides, loads of food and drinks and plenty more. In line with its mission to Create, Preserve and Transfer wealth across generations, Heritage Bank developed the HB Bud Savings Account, to help its customers create wealth for their children, and provide them a future of financial independence.

•Sterling Bank CEO Yemi Adeola

TERLING Bank Plc in partnership with Caleb Group of Schools has concluded plans to hold the second edition of the Parenting Workshop under its One Education Initiative. The workshop is aimed at educating parents and guardians on how to nurture their children and bring out the best in them. The event will hold on Saturday May 23, 2015 at the Auditorium of Caleb International School, Magodo,

Lagos. The theme of the workshop is ‘Enhancing your child’s capacity for learning’. The bank in a statement signed by its Group Head, Strategy & Communications, Mr. Shina Atilola described the Parenting Series as a family growth and education initiative designed to support parents’ desire to optimize the potentials and talents of their children. He noted that the purpose of the workshop is to aid parents and guardians in dealing with topical issues that affect the upbringing and training of their wards in the 21st century vis-à-vis the practical dayto-day realities of life in Nigeria. The Bank’s Chief strategist said the involvement of the Bank in the second edition of the workshop was informed by the overwhelming turn-out of parents who attended the first edition, adding that the Bank will continue to invest in initiatives that add value to the lives of people in line with its purpose.

MEMORANDUM QUOTATIONS AFRINVEST W. A. EQUITY FUND ARM AGGRESSIVE GROWTH BGL NUBIAN FUND BGL SAPPHIRE FUND CANARY GROWTH FUND CONTINENTAL UNIT TRUST CORAL INCOME FUND FBN FIXED INCOME FUND FBN HERITAGE FUND FBN MONEY MARKET FUND FIDELITY NIG FUND • UBA BALANCED FUND • UBA BOND FUND • UBA EQUITY FUND • UBA MONEY MARKET FUND

136.59 36,822.26 36,822.26 9.17 1.19 0.63 1.39 1,801.06 1,071.46 1,071.81 110.10 110.36 1.3117 0.7319 1.1349

135.91 36,822.26 36,822.26 9.08 1.19 0.62 1.33 1,1,801.08 1,070.80 1,071.81 109.51 109.79 0.7203 0.7203 1.1349

SYMBOL

O/PRICE

C/PRICE

CHANGE

FO CHAMPION IKEJAHOTEL ACADEMY INTENEGINS DANGSUGAR CILEASING FBNH PZ NB

159.60 6.75 3.61 0.96 0.51 0.40 0.67 8.80 28.40 154.00

173.23 7.09 3.79 1.00 0.53 6.60 8.99 29.00 155.18 17.81

8.54 5.04 4.99 4.17 3.92 3.13 2.99 2.16 2.11 0.77

LOSERS AS AT 14-05-15

O/PRICE

HONEYFLOUR 3.65 LIVESTOCK 2.52 TRANSEXPR 1.11 NEM 0.71 RTBRISCOE 0.96 VONO 0.98 FLOURMILL 36.20 FCMB 3.10 TOTAL 155.00 GUINNESS 160.00 DIAMONBNK 4.48

C/PRICE 3.47 2.40 1.06 1.68 0.92 0.94 35.00 3.00 150.00 155.00 4.37

FOREX RATES (NairaVs Dollar) April 1, 2015

Inflation: Febraury

8.4%

Monetary Policy Rate

13.0%

Foreign Reserves

CHANGE -4.93 -4.76 -4.50 -4.23 -4.17 -4.08 -3.31 -3.23 -3.23 -3.13 -2.46

Interbank ($/N)

199.00

Black Market ($/N)

215.00

$28.2b

London Inter-bank Offered Rates (LIBOR) Oil Price (Bonny Light/b)

$67.91

Money Supply (M2)

GAINERS AS AT 14-05-15

SYMBOL

ECONOMIC INDICATORS

N16.42 trillion.

Credit to private Sector (CPS)

N17.2 trillion

Primary Lending Rate (PLR)

16.5%

Tenor 1 Month 2 Months 3 Months 6 Months 12 Months

April 31

May 6

Rate)%

Rate (%)

0.1735 0.2147 0.2615 0.3841 0.6709

0.1715 0.2108 0.2626 0.3857 0.6744

Nigerian Stock Market Indices NIGERIAN INTER-BANK OFFERED RATES (NIBOR)

Tenor

12-02-15 Rate (%) Rate (%) 13-02-15

Overnight (O/N)

14.683

76.583

15.033

15.977

15.809

17.177

16.493

17.908

Transaction Dates 03/02/2015 3/12/2014 1/12/2014

Amount Offered in ($) 500m 400m 350m

Amount Sold in ($) 499.93m 399.97m 349.96m

Statistics All Share Index Mkt Cap (NGN’bn) Deals Volume (mn) Value (NGN’mn)

34,649.3 11.8 3,385 564,28 6,087.80

5 May 29,383.93 9,804.36 3,714 377,75 6,568.66

GOVT. SECURITIES YIELD – SECONDARY MARKET

Tenor

Feb. 13, 2015

Rates

T-bills - 91

12.44

T-bills - 182

13.85

T-bills - 364

13.92

Bond - 3yrs

15.92

Bond - 5yrs

17.22

Bond - 7yrs

16.59

THE NATION MONDAY, MAY 18, 2015

EQUITIES NIGERIAN STOCK EXCHANGE DAILY SUMMARY AS AT 15-05-15

DAILY SUMMARY AS AT 15-05-15

THE NATION MONDAY, MAY 18, 2015

EQUITIES

Markets await monetary policies as investors jostle for banks N IGERIAN equities showed modest recovery last week as investors await the decisions of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN). The MPC starts its meeting today and it is expected to announce its decisions tomorrow. The Nigerian stock market showed a modest recovery last week with average week-on-week gain of 0.15 per cent. The All Share Index (ASI), the composite valuebased index that tracks prices of all quoted equities, trended upward by 0.15 per cent from its week’s opening index of 34,388.21 points to close at 34,439.40 points. Aggregate market value of all quoted equities rose by 0.16 per cent from N11.678 trillion to close the week at N11.697 trillion. Market analysts said the outcome of the MPC meeting will influence portfolio direction of most investors. The MPC is expected to situate its decisions in the context of the recent pressure on exchange rate, declining external reserves, rising price level and slowing domestic economic growth. Market pundits at SCM Capital (formerly Sterling Capital Markets Limited), GTI Securities and Afrinvest Securities among others said the MPC decisions would impact on the overall market performance going forward. Most analysts however said they expected the MPC to retain the current rates. Analysts at Afrinvest Securities noted that while the financial system is being observed for full digestion of these recent policy pronouncements, the sustained pressure on the Naira, widening spread between the interbank and Bureau De Change (BDC) markets and low levels of external reserves will be top on the priority list of the MPC. Afrinvest Securities said the MPC would most probably decide to maintain status quo on major policy rates while postponing the possible further devaluation of the Naira to a later meeting after installation of new administration. According to analysts, the MPC will likely retain MPR at 13 per cent, public sector’s cash reserve ratio (CRR ) at 75 per cent, private sector’s CRR at 20 per cent, liquidity ratio at 30 per cent, net open position (NOP) at 0.5 per cent while maintaining status quo on exchange rate policy to allow the in-

By Taofik Salako Capital Market Editor

coming administration settle before grappling with any major monetary policy issue. “Since the last meeting in March, the economy has witnessed rising liquidity which has steadily impacted on the headline inflation rate, driven primarily by exchange rate-induced high prices of imported food and services. This has also created sustained pressure on the External Reserves owing to the depreciation of the Naira and weak oil prices at the international markets, while the gap between the inter-bank and parallel markets of the foreign exchange segments has also widen considerably,” noted analysts at SCM Capital. According to analysts, despite the increased inflationary pressure and the re-emergence of pressure on the Naira, the MPC may likely weigh the option of retaining the Monetary Policy Rate and other variables at the current level. “We are of the opinion also that it would be politically imprudent

to make any significant adjustment that will compound the current market dynamics as the new administration takes over the reins of government by 29th of May, 2015,” SCM Capital noted. Total turnover at the Nigerian Stock Exchange (NSE) last week stood at 1.63 billion shares worth N14.43 billion in 20,124 deals compared with a total of 1.58 billion shares valued at N20.15 billion traded in 23,279 deals in previous week. Transactions on three banking stocks accounted for nearly half of total transactions at the stock market last week as banking stocks continued to show better returns than other groups. Transactions on United Bank for Africa Plc, Zenith International Bank Plc and FBN Holdings Plc totaled 754.043 million shares worth N6.223 billion in 3,699 deals, representing 46.37 per cent and 43.13 per cent of the total equity turnover volume and value respectively. With the voluminous deals on banking stocks, the financial services sector dominated the market with 1.29 billion shares valued at N9.74 billion traded in 10,522 deals.

This represented 79.29 per cent and 67.52 per cent of the total equity turnover volume and value respectively. Further analysis showed that the services sector occupied a distant second on the activity chart a turnover of 76.63 million shares worth N97.93 million in 1,140 deals. The third place was occupied by the consumer goods sector with 69.61 million shares worth N2.08 billion in 3,552 deals. Also, a total of 25,469 units of Exchange Traded Products (ETPs) valued at N3.339 million were traded in 53 deals compared with a total of 1.388 million units valued at N31.49 million traded in 47 deals in previous week. There was no trading in the bond sector during the week. “Performance in subsequent sessions is expected to be calm as investors await the decision of the MPC on Tuesday,” analysts at Afrinvest Securities stated in a market preview. Analysts said they expected the naira to remain relatively stable this week while anticipating that the current tight control in the currency market will be upheld. Global analysis of stock market performance showed mixed trend

last week. In the developed markets, the United Kingdom’s FTSE reversed gains recorded two weeks ago, declining by 0.9 per cent last week. The United States’ indices showed a generally bullish market. The NASDAQ rose by 0.7 per cent while Standard & Poors inched up by 0.3 per cent. In Europe, German DAX contracted by 1.5 per cent while France CAC continued on the downtrend with a week-on-week drop of 1.2 per cent. However, the Japan NIKKEI 225 rebounded from recent losses and appreciated by 1.8 per cent while the Hong Kong Hang Seng also showed modest recovery with a gain of 0.9 per cent. In the emerging markets of Brazil, Russia, India, China and South Africa, otherwise known as BRICS, the mood was largely bullish. The China Shanghai Composite rose by 2.4 per cent. The Russia RTS added 0.4 per cent. The India BSE Sens and the South Africa FTSE inched up by 0.8 per cent and 0.7 per cent respectively. However, Brazil’s IBOVESPA declined by 0.9 per cent. Besides South Africa and Nigeria, Ghana’s GSE index rose by 2.5 per cent. However, Egypt’s EGX index and Kenya NSE 20 depreciated by 5.0 per cent and 1.8 per cent respectively.

•From Left: Assistant Director, Research and Technical Department, Chartered Institute of Stockbrokers (CIS) Mr Arinze Nwobu, Professor Rufus Olowe, Finance Department, University of Lagos, Mr Vincent Adubor, Head Corporate Services, CIS, Mr Adedeji Ajadi, Registrar and Chief Executive, CIS and Mr Edikan Ekong, Principal Manager, Research and Technical, CIS during visit of Finance students of University of Lagos to CIS.

Sovereign Trust Insurance boosts capital with N1.15b

OVEREIGN Trust Insurance (STI) Plc recorded 100 per cent subscription to its recent rights issue, raising N1.15 billion additional capital to support its medium-term growth plan. Regulatory filing at the weekend showed that the insurance company added 2.29 billion ordinary shares of 50 kobo each to bring its total outstanding shares to 9.16 billion ordinary shares of 50 kobo each. The supplementary listing concluded the rights issue process. STI had sought to raise N1.15 billion in new equity funds from existing shareholders through a rights issue of 2.29 billion ordinary shares of 50 kobo each at the nominal price of 50 kobo per share. The shares were pre-allotted to prequalified shareholders on the basis of one new ordinary share for every three ordinary shares held as at the closure of register for the rights issue. Securities & Exchange Commission had granted STI additional three weeks to its offer period, moving the initial closing date from February 20, 2015 to Friday, March 13, 2015. The net proceeds of the rights issue would be used to finance the insurance company’s five-year

blueprint. The blueprint is expected to reinforce the company’s competiveness’ in the Nigerian market, including its market share. Several companies are turning to existing shareholders to raise funds as the primary public offer market remains largely inactive. Majority and retails shareholders in several quoted companies

have been using rights issue to bridge equity financing gaps and reduce dependence on bank loans by injecting their own funds into their companies. Against the background of the in investors’ apathy and deteriorating pricing trend at the capital market, several core investors that hold the decisive votes on the suc-

cess of recapitalisation of quoted companies have opted for rights issue, which allows existing shareholders to recapitalise their companies. Rights issue gives the first right of refusal to existing shareholders and thus preserve existing shareholding structure. It however provides window for new inves-

tors to buy into the company through rights trading on the secondary market. Market analysts said the growing list of rights issues early this year underscores the preparedness of core investors to refinance their companies as well as the undervaluation of several companies at the stock market.

SEC woos youths to capital market

ECURITIES and Exchange Commission (SEC), apex regulator of the Nigerian capital market, will this week deploy its staff to all states and the Federal Capital Territory (FCT), Abuja to educate fresh graduates under the National Youth Service Corp (NYSC) on the basic rudiments of the capital market. The lectures on investment and capital market education will take place at the “2015 Batch A Orientation Camps” of the NYSC across the states and Abuja. Head, Investor Education, Securities and Exchange Commission (SEC), Obi Adindu, said the lecture series titled “Opportunities in the Nigerian Capital Market” will hold simultaneously in NYSC orientation camps across the country on

Thursday. According to him, the catch-themearly investment education is in furtherance of the market development mandate of the SEC aimed at raising the bar of capital market awareness among the vital public that are members of the NYSC. “The series reflects the strong emphasis placed on investor education by the current leadership of the SEC which is mirrored in a recent statement by the Director General of SEC, Mounir Gwarzo that investor education will constitute the fulcrum of the SEC’s market development effort,” Adindu said. He explained that middle-level staff of the SEC will be deployed from the Abuja corporate headquar-

ters of the Commission to carry out the awareness programme adding that these will be complemented by staff of SEC who are located in the Commission’s zonal offices in different geopolitical zones. “The lecture series is in line with an existing capital market awareness partnership between the SEC and NYSC on which basis the Corps extended an invitation to its ‘2015 Batch A Orientation Camps’ to the SEC. The central theme of the exercise will devolve into topics and subthemes such as the investor protection role of the sec in the Nigerian capital market; products and services in the capital market; advantages of collective investment schemes as investment vehicles; how to identify investment

fraudsters and job opportunities in the capital market,” Adindu said. He added that investor education and capital market awareness literature published by the SEC will be distributed to the Corps members at the orientation camps. These publications include We Invest in shares (An Introductory Guide), Beware of Investment Scams (Wonder Banks), Opportunities in the Nigerian Capital Market and e-Dividend, Dematerialization of Share Certificates and Straight – Thru’ – Process (STP). According to him, the lecture series has been a remarkable success since it was introduced a few years ago as officials, as well as Corps members of the NYSC, have turned it into a staple diet of the NYSC orientation exercise.

THE NATION MONDAY, MAY 18, 2015

Taxation Distinguishing Withholding Tax From Value Added Tax

HERE is a need to draw attention to the funda-

the issue should charge VAT at 5% on their invoices for

mental difference between Withholding Tax

services rendered. Since the issuing houses handle the

(WHT) and Value Added Tax (VAT) so as to fa-

transactions connected with new and rights issues, they

cilitate clear understanding of the mechanics of the tax

are to act as agents for the collection and remission of

concepts.

VAT to FIRS.

WHT is an advance payment of income tax and the purpose is to bring the prospective taxpayer into the tax-

(c)

net, thereby widening the income tax base. In other words,

As a pre-requisite for listing new securities by the NSE,

the WHT system is aimed at tracking down taxpayers

the evidence of settlement of WHT and VAT on the new

and the incomes which may otherwise not be reported

and rights issues must be attached. The listing fees are

by them.

themselves liable to WHT and VAT.

Listing by the Nigeria Stock Exchange (NSE)

When the income on which WHT is deducted at source is finally brought to the notice of the tax authority and

(d) Renewal of Operators’ Licences

the appropriate tax computed, due credit is given for the

Before an operator’s licence is renewed by a regulatory

WHT deducted at source on the presentation of the origi-

authority, evidence of WHT and VAT on issues handled

nal WHT receipts through the issuance of credit notes.

in the previous year must be produced.

The taxpayer will be required to pay only the balance due after matching the actual tax liability against the

THE SECONDARY MARKET

credit for the WHT suffered at source. WHT is therefore

(a) How to Impose WHT

nothing more than a collection machinery to curb tax evasion. It is not a separate tax on its own. It is a part of the income tax - whether personal or corporate income

• In the case of a purchase, the stockbroker is expected to charge the investor for the following:-

• Acting Executive Chairman, FIRS, Samuel Ogungbesan

• the cost of the shares purchased,

sion and fees is 10% when these payments are made to

In contrast, VAT is a different type of tax. VAT is a

• commission based on gross value of shares pur-

limited liability companies; and 5% for individuals and

consumption tax payable on the goods and services con-

chased on behalf of that investor, - the Securities and

sumed by any person, whether government agencies,

Exchange Commission (SEC) fee (which is currently 1%

• The currency in which the tax is to be paid is the

business organisations or individuals. The target of VAT

of total consideration and is not subject to WHT and VAT

currency the transaction was carried out and in which

is the final consumer of goods and services and unless

being part of gross income earned by SEC)

the tax was deducted.

tax.

an item is specifically exempted by law, the consumer is

• deduct WHT on the commission at 10% and pay over

liable to the tax. Exemption from this is not aimed at agen-

to the relevant tax authority, i.e. State Board of Internal

cies, companies or individuals but rather at the goods

Revenue (SBIR) or FIRS.

and services. Therefore, all agencies of government, religious and other organisations and similar persons that are normally

• In the case of a sale, the stockbroker is expected to deduct from the investor’s gross consideration the following:-

exempted from income tax are expected to pay VAT on

• his commission,

the goods and services consumed by them except where

• the other fees payable to other third parties, as ap-

the goods and services are specifically exempted by law.

proved by the SEC.

partnerships.

• payments of wht should be made in bank drafts and payable to: • ‘‘The Federal Government of Nigeria- FIRS – Withholding Tax Account’’ • Payments should be accompanied by the relevant forms (CMF1, CMF2, CMF3, CMF4, or CMF5). • Any default in the implementation of the tax carries heavy penalties. • Failure to deduct WHT and failure to remit taxes withheld are punishable on conviction by a fine of 200% of

THE PRIMARY MARKET (a) How to Impose WHT

• Thereafter, the net sale should be paid over to the investor.

It is usual for issuing companies to pay fees to issuing

• Both the stockbroker’s commission and other fees paid

houses, stock brokerage firms, reporting accountants and

to other third parties are subject to WHT. The stockbro-

solicitors in respect of new and rights issues, as well as

ker is to pay over tax withheld from the commission and

debenture stocks. Such fees should be subject to with-

other fees to the relevant tax authority.

the tax not withheld or remitted. (b) VAT • The rate for VAT is 5%. • Payments of VAT should be made in bank draft and payable to: • ‘‘The Federal Government of Nigeria – FIRS – VAT Account’’

holding tax at source in accordance with Section 63 of the Companies Income Tax Cap 60 LFN 1990, and the

(b) How to Impose VAT

relevant extra-ordinary Gazette. The issuing companies

In both purchase and sale transactions, the consumer

are hereby mandated to deduct theWHT tax there-from

of the services rendered is the investor. It is therefore the

and pay over to the Federal Inland Revenue Service (FIRS)

investor that is subject to this tax. The VAT on these

within 30 days as stipulated in the tax law. The net is

transactions should be paid over to FIRS.

• The payments should be accompanied by the VAT FORM 022 which is readily available online and all FIRS offices throughout Nigeria. DUAL ROLE OF ISSUING HOUSES It is necessary to clarify that the new policy of govern-

then paid over to the issuing house that handled the is-

COLLECTION ARRANGEMENT

sue. The applicable rate for commissions/fees is ten per-

In respect of the collection of the taxes herewith dis-

cent (10%) for limited liability companies, and five per-

cussed, the usual collection arrangement will prevail.

cent (5%) for individuals and partnerships.

Reference to the relevant FIRS information circular (9502

ibas agent of government for the deduction and remit-

(b) How to Impose VAT

of 20th February 1995, 9501 of 13th January 1995) may

tance of WHT and as agent of government for the collec-

Every consumer pays VAT on services rendered to it.

be advisable.

tion and remittance of VAT even in respect of their own

As consumers of the services rendered by both the issuing houses and other parties to the issue, the issuing

However, in summary, the following collection arrangement should be observed:-

ment imposes dual roles on the issuing houses as agencies which handle new and rights issues:

respective transactions which ordinarily should have been paid over to the operator who charged the VAT on

companies are liable to the payment of VAT for the serv-

(a) WHT

his invoice. (For more details see pare. 4 of Information

ices rendered. The issuing houses and other parties to

• The rate at which tax is to be withheld on commis-

Circular no. 9502 of 29th February, 1995).

THE NATION MONDAY, MAY 18, 2015

THE NATION

BUSINESS JOBS

•Oil palm estate

Nigeria is inching closer to reclaiming her position as world’s leading palm oil pruducer. The feat, which the country hopes to achieve by riding on the crest of a backward integration through upstream investments in plantations, as well as in refining by PZ Wilmar Nigeria Limited, is expected to create thousands of direct and indirect jobs. Assistant Editor CHIKODI OKEREOCHA, reports.

JobsfromPZbackwardintegrationinpalmoilcoming T

ILL date, most Nigerians still rue the nation’s loss of its position and visibility aglobal player in palm oil. Not a few Nigerians with nostalgia the 1950s and mid-1960s when Nigeria, as the largest oil palm producer, called the shots in the global palm oil industry, boasting an enviable market share of about 43.0 per cent. Nigeria, in those glorious

years, was supplying 645,000 Metric Tons MT) of palm oil annually to markets across the world. Oil palm alone accounted for 80 per cent of Nigeria’s export earnings. It also created millions of direct and indirect employment opportunities for Nigerians. The fact that Malaysia, one of the Asian emerging markets, reportedly obtained the oil palm seed with which she

her thriving oil palm business from the West African region, especially Nigeria, underscored Nigeria’s towering status as a global oil industry player. But things have since changed. Nigeria’s once booming palm oil industry collapsed. From being the world’s leading producer and exporter of palm oil in the 1960s, she is today a net importer of palm oil to meet her growing domestic de-

mand. Nigeria has an estimated 500,000 tonne annual palm oil supply shortage, made up of about 300, 000 tonnes of Technical Palm Oil (TPO) for the production of soap and about 200, 000 tonnes of Special Palm Oil (SPO) used in the food industry. Much of these are currently met through imports, and the loss to Nigeria in foreign exchange is huge. Importation of palm oil

alone, according to the Managing Director, West Africa, PZ Wilmar Nigeria Limited, an oil processing, packaging and distribution company, Mr. Santosh Pillai, is digging a hole in the Federal Government’s purse to the tune of $300 million, about N59.7b, annually. •Continued on page 36

THE NATION MONDAY, MAY 18, 2015

JOBS

JobsfromPZbackwardintegrationinpalmoilcoming •Continued from page 35

Perhaps, most worrisome is that thousands of Nigerians whose livelihoods depended on the industry became jobless. The fact that out of the 36 states of the federation, 24 come under what is referred to as ‘Nigeria’s oil palm belt’ including the states of Abia, Anambra, Bayelsa, Akwa-Ibom, Cross River, Delta, Eboniyi, Ekiti, Enugu, Ondo, Ogun, Osun, Oyo, Imo and Rivers, among others, attest to the large number of smallholder farmers engaged in the industry in its hay days. However, there are indications that the industry may soon bounce back. Already, Nigeria is riding on the crest of a backward integration programme initiated by PZ in the hope of reclaiming her position as world’s palm oil superpower. The backward integration plan in palm oil, which aims at making Nigeria self sufficient in oil palm production, according to Pillai, would create over 9, 000 direct and 45, 000 indirect jobs. Pillai, who spoke during the award of the International Standards Organisation (ISO) 22000:2005 Certification for food safety to the company in Lagos, explained that the programme would generate thousands of employment opportunities through PZ’s upstream investments in oil palm plantations, as well as in refining and downstream distribution. He said this would help Nigeria save foreign exchange by eliminating imports to the tune of $300 million per annum. While noting that Nigeria’s total market for palm oil is estimated at two million tonnes, and local output meets approximately 75 per cent of the total, the PZ chief said to close the supply gap of crude palm oil in Nigeria, the company is working to increase the availability of locally sourced products. It is also introducing modern plantation management. Pillai said the company has so far acquired 26, 500 hectares of land in Cross River State for oil palm plantation, adding that the target is to acquire 50, 000 hectares soon. The 26,500-hectares

project is part of an integrated end-to-end value chain in oil palm production and processing. It is the result of a Joint Venture (JV) between PZ Cussons and Wilmar of Singapore to explore the opportunities in the agro-allied industry and in the process, deliver benefits to the Nigerian economy. The core mandate of the JV is to develop local capacity of palm oil production through investment in plantations and construction of a 1, 200 tonne per day crude palm oil refinery, plus associated plant. It is also to produce a range of branded products, including edible oils and nutritional spreads. The JV project in oil palm business with an investment size of $650 million (about N100billion), is an end-toend project across the value chain. The PZ Wilmar boss explained that the investment involves the acquisition and development of palm oil plantations, including bringing currently abandoned, or derelict plantations back into production. Already, the upstream segment of the investment has seen the company acquiring three old plantations and a relatively new one at various locations in Cross River State. “In the last two years, we have been replacing the 50-year old unproductive wild palms with improved tenera variety specially brought from Indonesia,” Pillai announced. The Nation learnt that millions of high yield tenera variety seedlings have gone through various stages and have been replanted.” He said the company is also investing in community development on and around palm oil plantations, including health and recreational facilities. There is also the aspect of skills transfer to local farmesr, including training in world best practice palm plantation management and development. The company’s investment in sustainable rural development, it was learnt, is designed to break the downward spiral afflicting smallholders, where poor quality plants give low yields from inefficient and unhygienic processes, leading to low earnings. Some of the direct and indirect employment opportunities

• Adesina

• Mr Pillai

thrown up by the JV project, include suppliers, drivers, agric engineers and agronomists. There are also direct and contract farmers who would work in the plantations. There are also pickers, mostly casual workers working during harvest periods because it is not every farm that uses harvesters so, they have to do it manually. The health and educational facilities that will spring up on and around the palm oil plantations will be manned by professional doctors, nurses and teachers. There will also be messengers and cleaners that will work in staff housing and farm clinics. Thousands of hands will also be needed as factory workers in crushing plants producing Crude Palm Oil (CPO). Excellent career prospects and advancement also await Nigerian professionals such as supply chain coordinators, community relations officers, lawyers, and accountants, among others. The training component of the project is not left out. Currently, the company has trained over 85 trainees in various fields in

world best-practice palm plantation management and development. It even went a notch higher, building a training school for required skill upgrade in modern plantation management, and in readiness for extension work for the out-grower scheme. “We have succeeded in re-importing Nigerian jobs through this value-addition,” Pillai stated, adding that “Nigeria is endowed with human and natural resources. But one of the issues in its economic development is the ability to properly harness these endowments especially in areas it has competitive and comparative advantage.” He only echoed the minds of the Federal Government and Nigerians in general. For instance, during a recent visit to the companies’ oil palm plantations in Calaro and Ibiae near Calabar, the Cross River State capital, Minister of Agriculture and Rural Development, Dr. Akinwunmi Adesina, Minister of Agriculture and Rural Development, Dr. Akinwumi Adesina, said the oil palm value chain ac-

tivities could add 20 million metric tonnes of food to the national domestic supply this year. Such activities, Adesina added, are also capable of generating 3.5 million jobs within the various commodities’ value chains if well pursued. President Goodluck Jonathan agrees with him, noting that the JV venture serves to harness natural resources in Nigeria and actualise the collective dream of strong local content and far reaching backward integration that will conserve precious foreign exchange earnings and create rural employment. Federal Government’s backing of the project must have been informed by Wilmar’s clout in oil palm business globally. The company engages in oil palm cultivation and milling, and is one of the largest oil palm plantation owners in Indonesia and Malaysia. Its oil palm plantations are strategically located in the various regions of Malaysia and Indonesia where the climatic conditions are suitable for planting oil palms. In Indonesia, for instance, its plantations are located in Sumatra, West Kalimantan and Central Kalimantan (southern region), while in Malaysia, they are located in the states of Sabah and Sarawak. In addition, the Group also owns oil palm plantations in Ghana and through joint ventures, owns plantations in Uganda and West Africa. As at 31 December 2014, Wilmar had approximately 238,287 hectares (ha) of planted area of which about 70 per cent is located in Indonesia, 24 per cent in East Malaysia and six per cent in Africa. Apart from plantations, Wilmar also owns palm oil mills to process fruits from its own and surrounding plantations. The key products of oil palm cultivation and milling are crude palm oil and palm kernel, which are sold to palm oil refiners or further processed. Can the company replicate its success in other countries in Nigeria and create jobs? The chances are bright given its pedigree and the willingness of Nigerians to be productively engaged.

CAREER MANAGEMENT

Resume for govt jobs needs transferable skills

N these times of economic instability, nothing is more beneficial for most companies than to hire efficient people with a large set of varying skills. These people are those who are flexible and wellrounded to carry on and coordinate multiple tasks. Government offices like private companies are on the lookout for these special types of employees. Because federal funds are restricted and limited, they would always make it a point to maximise and spend these funds on people who are worth the money and time of the organisation. They want someone who not just know the specific job, but someone who has the abilities and values to accomplish many types of duties and the knowledge necessary to realise different goals. That being said, it is then very necessary that a resume for government jobs includes relevant and general abilities that are valuable across a multitude of jobs and industries. Unlike before when jobs are suggestively the same to develop specialisation

By Olu Oyeniran

and expertise, this time around, what most employers require are the existence of what we call “transferable skills.”

What are transferable skills? Transferable skills are basically those acquired abilities that are beneficial and pertinent to a wide variety of jobs and industries. They may have been gained from previous employments, school, past trainings, or even from a personal experience at home or with friends. Among the most common examples of transferable skills are “self-motivation,” “communication,” “creativity,” “problem-solving skills,” “leadership,” “flexibility,” “time management,” and “customer service orientation.”

Transferable skills and their appeal to government offices Besides the fact that most government institutions want to economise human resources

through the employment of a well-rounded and highly skilled staff, these government bodies require exemplary-skilled applicants. These are the applicants who have strong rational and technical skills and likewise the expertise to communicate with others and work effectively with a group of people. Most especially that more than a hundred applicants battle for a single spot, there is nothing more effective than to evaluate people based on what they could do and what they could offer compared to other applicants.

Amplifying transferable skills in resume for government jobs Though transferable skills are somewhat applicable in almost any type of jobs, applicants should still be wary of the particular skills that are best suited to a given profession. Basically, they need to check on the particular job opening, assess the skills and requirements needed in

those open posts, and apply the greatest skills that best match the prerequisites. For example, a person who is to apply as an account representative should not amplify merely his/her experience in clerical works or her background in administrative duties and computer activities. Instead, he/she should apply transferable skills and focus on magnifying her experience through the use of such qualities. For instance, to intensify her experience in administrative duties, she may write about her customer service and interpersonal skills experienced, which were best applied to her involvement with a large variety of personalities and management levels. She may also boast of her effective time management skills as evidenced by the multiple tasks she was able to manage simultaneously on her previous employment. To sum up, resume for government jobs no longer stands as a basic enumeration of all the jobs held within the last few years or

so. What is more vital in today’s time is the edge of one applicant over another. For this, it is advised to apply necessary and relevant transferable skills on the resume and amplify them on each task accomplished for every employment.

EkiniConsult & Associates is organising three free and open workshops, “Knocking on the Right Doors- Strategies for Uncovering the Hidden Job Market” for The Nation readers in Lagos. A free eBook of the same title will be given to those who may not be able to. If you are interested, send-in your name, location, email address and GSM no to 080-8384-3230. Precede with the word ‘ATTEND’ for those who want to come and ‘FREE EBOOK’ for those who want the free eBook only.

•Oyeniran is Lead Consultant, EkiniConsult & Associates. He can be reached on Jobsearchhow.com.ng Tel 08083843230 (SMS Only).

THE NATION MONDAY, MAY 18, 2015

THE CEO An economist and industrialist Mr Henry Boyo says fixing the economy is not rocket science; a robust monetary policy to address excess liquidity challenges will do the magic. Excess money supply, according to him, is responsible for the high inflation and interest rates and high cost of funds. Boyo, Managing Director of Cocosheen Nigeria Limited, in this interview with Assistant Editor CHIKODI OKEREOCHA, takes a swipe at the Central Bank of Nigeria (CBN) for its “crazy, merciless, insensitive, and unilateral policy” of substituting naira allocations for dollar-derived revenue. CBN’s “conscious, deliberate and misguided” payment arrangements are causing market imbalances, which are weakening the exchange rate, he says. Boyo recommends redenomination of the naira, among other measures, to revive the economy.

‘How Buhari can salvage economy’ of funds. The more naira we have in the system the weaker is the naira. So, excess liquidity is responsible for inflation, interest rate, exchange rate-all the negatives. The CBN is the one creating the problem of excess liquidity and it does it every time that it captures the dollar earnings for the country and substitutes naira. The naira substituted as allocations provides the leveraged platform to the banks to extend their credits and in order to prevent the banks from doing that and suffocating the system with more naira CBN approaches the banks to borrow the money back and keep the money at 10, 11, 12 per cent and this has been going on for years. Inflation takes away money from the hands of the income earners. If you take money away from the masses; the N18,000 minimum wage for example, at the time it was established, was close to $180 or something. Today N18,000 minimum wage is less than $100. Because of that if you are still paying somebody N18,000 minimum wage four, five years ago the things he could buy with that then, he cannot buy today. So, consequently he is a poorer man.

OW would you assess measures so far taken by CBN to strengthen the naira in the face of oil price?

The prelude of your presentation is that the naira has depreciated in value as a result of the fall in crude oil price. I would want to submit, very humbly, that it is part of the propaganda of government. It is the position, which is regularly adopted to deceive Nigerians that the actual value of the naira viz-a-viz the exchange rate to the dollar is a function of crude oil price fall. If it is true that crude oil price fall led to naira depreciation, it should conversely be true that when crude oil prices rise and huge revenue come in, then we will equally see the value of the naira appreciate. But has that been the case? It is not true that it is the price of crude oil that actually drives exchange rate of the naira. What drives exchange rate of the naira is a simple market mechanism of demand and supply. It means if you have too much naira in the market the value of the naira will fall. If you have too much dollar in the market the price of the dollar will fall. When you have a situation where there is constantly a surplus and a huge surplus for that matter, a surplus that makes it necessary for the Monetary Policy Committee and the members of the monetary team to do things which are normally recognised as stupid and foolish, then would you ever give your money for free to one person or a body or cooperation and then go back to that corporation and say I want to borrow it back at 10, 11, 12 per cent? That is why I said the monetary authorities do things that are stupid as a result of the deliberate attempt to consciously mismanage the demand and supply mechanism between the naira and the dollar. When you have a situation where we have been receiving $110 per barrel of crude oil for so many years; consequently our reserves jumped to about $60 billion or more. We even paid our debts and all that. With all those good attributes you would expect the naira to be exchanging for below N100 to a dollar. But somehow it remains resistant and never improved. The moment the price of crude oil falls we jump on the bandwagon and say the price of crude oil is falling whereas it is clearly the result of a mismatch between naira and dollar supply.

How did the mismatch happen? At the time that we earned $110 or $120 per barrel, we shored up or accumulated a huge reserve of dollars. When I said we shored up a huge reserve of dollars I am in fact misinforming you, but you will not know and most Nigerians will not even know that I will be misinforming them by telling them that when we earned a $110 or $120 per barrel we shored up a lot of reserves; the word reserves is a misnomer because the concept of shoring up those reserves has the collateral of inundating the system with huge surplus naira. So, in other words, for you to build up your so-called reserves you have to practically fill the system and make sure it doesn’t work by taking in so much naira in the system and with so much naira in the system there is excess liquidity.

What should be done to stem naira value? Look at the dynamics of demand and supply. If you have more naira in the market chasing limited dollar supplies, you will find that the price of the naira will fall, that is, naira will depreciate. If you now have more dollars in the market and less naira the price of the dollar will fall. What we should be asking is how we establish that balance. When you earn dollars from crude oil the moment somebody captures those dollars and consciously and deliberately creates what he considers to be naira values, at what

How does this affect the real sector?

No industrialist or entrepreneur wants to go and put up factory and produce something where there is nobody who has money to buy. In addition to that, the real sector needs money if they have to be competitive at very cheap rate to be able to produce and compete with goods coming from China and elsewhere. Those goods that are coming from China and elsewhere are being offered to the Nigerian market because over there in China and places like that, their interest rates are at between two and seven per cent. Meanwhile, local producer here with all the challenges of electricity and everything is being asked to borrow at 25 per cent. How can he compete? So, you can see he is falling on the basis of consumer demand as a result of inflation. Apart from infrastructural problems and things like that, he is also confronted by problem of cost, which is so high because CBN is busy competing for the funds in the system with the real sector even though CBN requirement is take the money and keep it idle. • Boyo

they consider to be the appropriate rate of exchange and then that governor or agency inundates the system with the new naira creation in the market. Once the new naira creations are made and made as an allocation to the three tiers of government you don’t expect that they will go and put their allocations under their pillow or their bed; they will go and put it in the banks as deposits. Let’s assume that we are talking of $1 billion allocation, which has been converted, for example, into N200 billion, and it is now put in the hands of the banks as allocations to the three tiers of government. CBN on the other hand, holds on physically to the $1 billion. In other words, CBN has bought the $1 billion from you and has not given you naira that was the result of creativity or output, but freshly created naira, gives you and you put it in the bank. At the end of the day the bank now has what they call a fresh cash inflow and if the mandatory cash reserve ratio for banks is 10 per cent, for example, it means that they only have to keep 10 per cent of that N200 billion and then the balance they can lend out. When they lend out that amount of money in a market where the N200 billion was not actually created from productive activities, then you are suffocating the system with excess naira.

How do you think the incoming government can address the naira crisis? It’s the same thing. Deal with the demand and supply between the dollar and the naira, simple. In other words, the CBN should stop

PHOTO: SOLOMON ADEOLA

the deliberate capturing of dollar earnings and then calling it reserves after inundating the system with excess naira. The CBN should realise that it is the excess liquidity and the need to control it that makes it impossible to achieve those parameters that will drive the economy, particularly the parameters relating to cost of funds, interest rate and exchange rate. Let’s take for example inflation. Inflation is caused by too much money chasing too few goods. If inflation is running at seven, eight per cent it means that every five years or so the income that you are earning will be able to buy between 40 and 50 per cent less. What has caused the too much money all the time is the CBN that is continuously pumping fresh naira into the system to inundate and suffocate the system with excess naira while capturing the dollars and replacing it with the naira so as to say these dollars now belong to CBN. When we have reserves of $40 billion or $50 billion how come we now go out to say we are going to borrow $1 billion from elsewhere at seven per cent and the CBN is seating down on over $40 billion reserves? Excess money in the system is also the reason why interest rates are high. So, you can see high quantum of money or excess supply of money into the system is responsible for inflation. It is also responsible for high cost of funds because in the process of trying to reduce the excess money the Central Bank out bids the common man or the real sector. So, the banks can actually pump up their cost

It’s been more than two years since the privatisation of the power sector. Has there been significant improvement in electricity supply? We haven’t seen much of improvement in power supply. But what is equally worrisome is that after selling the distribution companies we ended up with a loss of N400 billion and the same group of people to whom we sold the distribution and generation companies and made a loss of N400 billion incurred from the allowances and outstanding payments to contractors and all that suddenly find that they don’t have the money to run the companies efficiently. So, what do we do? We call them together again and say okay we give you soft loan in spite of the fact that we ended up with N400 billion in debts as a result of selling the distribution companies. I always like to emphasise that I am never too keen on bailouts because they are always fraught with malpractices just like waivers and things like that. It’s always better to have a level playing field. How can you say that the pure water manufacturer is less important than anybody who produces anything else, even rice or whatever? Why must you disadvantage one person with a high cost of funds and then another person with a low cost of funds all because of your failure to bring a level playing field in the area of cost because you are busy trying to borrow money that you consider to be in excess in the mar•Continued on page 38

THE NATION MONDAY, MAY 18, 2015

THE CEO is celebrated is killing because it creates more poor people.

‘How Buhari can salvage economy’

Does this mean current efforts at diversifying the economy cannot work without first looking at the monetary policy?

•Continued from page 37

ket and consequently stimulating interest rate so high and then blaming other people for high interest rate? High interest rates are a function of bad governance. We also have bad governance not only in terms of leakages and corruption and things like that but in terms of monetary management because the core mandate of the Central Bank is price stability and price stability resolves around inflation, cost of funds, and exchange rate. In our case we had a very crazy situation where when we earned more dollars our naira falls. Another area, which unfortunately the media also is not fully conversant with, is the area of subsidy. The same mistake you made when you said the exchange rate is falling because of crude oil price fall; a lot of people say subsidy is always there because of high price of crude oil. But again that is a lie because when the price of crude oil failed we were still accommodating subsidy, so it can’t be that subsidy is the result of high crude oil prices. But it’s probably safer to say that subsidy is a function of the naira exchange rate because you find that in spite of the price of crude oil falling to $50 you would expect the price of petrol to have crashed, but it hasn’t. It has crashed internationally, but in Nigeria it hasn’t crashed because even though the crude oil price has crashed internationally the price of the naira has fallen. So, it’s impossible for you to remove subsidy and for it to be a popular decision so long as you don’t recognise that relationship between the exchange rate and the price of fuel.

• Boyo

‘High interest rates are a function of bad governance. We also have bad governance not only in terms of leakages and corruption and things like that but in terms of monetary management because the core mandate of the Central Bank is price stability and price stability resolves around inflation, cost of funds, and exchange rate’

What about importation of petroleum products? Some people say if local refining capacity can meet demand, there won’t be need for importation and of course, payment of subsidy. Are you saying this does not hold true?

Crude oil produced in Nigeria, Saudi Arabia, or America has a uniform international commodity price. They don’t say because it’s produced in Saudi Arabia, therefore, the price is cheaper. In the same way, the process of producing crude oil or refined petroleum products is the same everywhere in the world, the same equipment. So, if you put in the same feed stock casting the same amount all over the world what you will get at the end will be the same price. The difference will be if you have to transport from Germany or wherever you refined it, you might say may be 10 per cent or something like that, but 10 per cent differential is not what Nigerians are looking for. So, the issue of freight is not a critical component that influences the price of petrol in a manner that will make us say we must have subsidy. Let me use an example. You know 23 companies have been given licenses to open refineries here. Do you think that these 23 companies who have been given licenses to set up refineries have not done so because there is no more profit in it? What is stopping them is very simple. They all, almost invariably, at that level of business, have to go and borrow money. If they go and borrow money to set up refineries here in Nigeria and they produce and the output from their refineries is priced all over the world at X dollars per litre, $1 per litre or $0.8 per litre or 70 cents per litre as the case may be and that price is uniform because the crude oil is the same price all over the world; the only thing that might change is the labour. But these people that have got licenses for refineries are concerned that by the time they have borrowed money and set up refineries and they produce and they are asked to sell at a reduced price below their cost price because government wants to accommodate a subsidy for the people and then it takes six months for them to get this subsidy back, they will think If I had done it in Venezuela or wherever the moment I produce and sell I get my money. So, why must I wait for three, six months for the people who have bought my petrol to come and pay me? That is why you find that all the 23 people who had gotten license did not take a step to want to produce.

What is your take on the proposed

Of course, it can’t; it is not magic. All the previous governments from Obasanjo have they not tried to diversify the economy? Is it a new thing or a new concept? No. They tried in their own ways, but they all failed because the structures were not there. Diversification is not a new concept. Even during the military we tried to diversify but it won’t work because at the end of the day you cannot expect the real sector, which is normally the driver of the economy, to be vibrant if there is no demand. Industrialists will not do anything when also the cost of funds to them is so high at over 20 per cent. And why would the banks also want to face industrialists when they have good customers who would bring money one day and come and borrow it back the next day? You see once you get it right, control becomes minimal because the system controls itself. So, when people celebrate and say CBN reserves is rising, we are only fooling ourselves because the process of accumulating the so-called reserves has damaged our economy already. Even as I am talking now, government is still talking of borrowing $1 billion from World Bank. Meanwhile, the CBN is still sitting on $37 billion reserves and they say that one is for defending the naira. Haba! That’s not how to defend the naira.

But the reserve itself is depleting? It must drop because in the first place they were not reserves because they cannot be reserves if the CBN says he owns that and it can do anything with it. Have you ever seen where somebody can have his cake and eat it? The Central Bank will ask you how can you have the naira and you also want me to give you the dollars that I took in replacement of the naira. So, those reserves belong to me. What I am saying is the stark reality; it’s commonsense grounded in economics and economics is commonsense in the light of scarcity of resources.

What are your expectations from the incoming government? If the incoming government continues to disrespect the sanctity of monetary stability, it means they will fail woefully, if not more woefully than this government. There is nothing that they can do that will redeem their performance if they don’t pay attention to interest, inflation, and exchange rates. Not just pay attention, but make sure they reverse the trend and they cannot reverse the trend without addressing the problem of excess liquidity. And when they want to start addressing the problem of excess liquidity they will discover that excess liquidity is the reason why they are not able to achieve very low interest rate or monetary policy rate of one or two per cent, very low inflation rate of less than one per cent and why it will also be impossible for them to abolish fuel subsidy.

Will that also make the manufacturing sector gather steam? • Boyo

sale of refineries? It is not whether you have a refinery that is important, it is the price that your output will sell for that is critical and how quickly you can get your money back. As it is, if Nigerian National Petroleum Corporation (NNPC) should continue to run its refineries, (even though it is no more efficient to do because they have spent so much money trying to turn around the refineries), at what price would they be selling? Would they now say “oh you are a federal governmentowned refinery so, when we produce we sell to marketers at below the price.” In no time they will pack their loads and go. So, the question of do we sell the refineries is not the issue, it is pricing.

Why are we not sorting out pricing?

This is because the process of influencing the pricing has to do with the process of the naira-dollar mechanism. The pillar of any economy is monetary policy and the pillar of monetary policy is interest, inflation and exchange rates. When you get those ones right, you will fix the economy. In countries where economies are working isn’t interest rate below two per cent? Isn’t exchange rate stable for many years? Isn’t cost of funds below two per cent?

From your analyses, successive economic managers have failed. What kind

PHOTOS: SOLOMON ADEOLA

of economic managers do you recommend for the incoming government? People who are sincere and people who want to see economic progress in this country. Those are the kind of people we should be looking for. People who see common sense and accept common sense; not people who would try to paint rubbish as common sense, especially when you keep telling people that the reason why we are poor is because we have not diversified. Diversification does not rain from heaven; it’s created by a structure and the structure that drives diversification, whether it is agriculture, transportation, are those pillars that I have told you about, a stable monetary policy-interest rate at a level that will make it possible for me to borrow money and set up a hospital; inflation at one or two per cent to make sure that the people who bought my bread yesterday will still be capable of buying my bread tomorrow so that I am not out of business; exchange rate to make sure that industrialists who are ordering raw materials from abroad does not find that their costs are increasing on a daily basis and suddenly you make them uncompetitive. Because high cost of raw materials, high cost of funds, and inflation eats up income of the people who are going to buy your goods. The economy cannot stand without the right monetary policy framework because high interest rate makes it impossible for the real sector to grow. High rate of inflation of eight per cent that

Look at the reverse. If these things are done first, the poor man, for instance, can buy one loaf of bread everyday whereas he only had one every Sunday before. The plantain seller can sell more. So, that is good for the real sector. In addition, the cost of funds will come down because the Central Bank does not have to borrow money it doesn’t need at 10, 11, 12, and 13 per cent. So, the banks will now come calling on the doors of industrialists do you want to borrow money? Because the N600 billion they used to get as free funds as profit from lending government money back to government will not be there so they go in search of investors who are prepared to borrow money and translate it into economic activities. So, exchange rate will become stronger, certainly there will be no more subsidy; cost of production will also go down for industrialists because raw material prices will come down, etc. The beauty of it is that at the end of the day you find what you might call a reversed brain drain. For example, my recommendation is that let us redenominated the naira so that N2 will become $1. It will help portability; it will help competitive pricing of goods. So, let us immediately redenominate the currency such that it will knock off two zeroes. Once we do that, portability will be facilitated. In addition, you also have the facility of kobo coin. One kobo in that redenominated structure will be buying what N100 normally buys. At the end of the day what you need to do is to ensure that the excess liquidity that continues to make the naira weaker and inflation rise does not also ultimately, become N4 to a dollar.

THE NATION MONDAY, MAY 18, 2015

BUSINESS

MOTORING

Driving pleasure and efficiency needs not be mutually exclusive. The same is true of breathtaking design and world-class aerodynamic drag values. In all four areas, the new Mercedes-Benz CLA sets the benchmark in the medium-size category, writes TAJUDEEN ADEBANJO.

•The Mercedes-Benz CLA

New Mercedes-Benz CLA: Powerfully dynamic

HILE the classic Mercedes-Benz CLS - whose design concept has generated more than its fair share of imitators since its debut in 2003 is still enthralling the world, further design development has given birth to the unmistakable looking Mercedes-Benz CLA. The powerfully dynamic design and interplay between concave and convex surfaces give the CLA its striking features. The authorised distributor of MercedesBenz in Nigeria, Weststar, is set to introduce this four door coupe with its breathtakingly sporty proportions into the auto market. Drivers and passengers are bound to be drawn to its prominent features which include, the bonnet embedded in the front end with power domes and the diamond radiator grille. The light modules and LEDs behind the headlamp cover glass have been arranged in such a way as to create the characteristic “flare effect” for the daytime driving lights and indicators. This light signet defines the car’s energetic appearance and shapes a new Mercedes face. According to Dr Dieter Zetsche, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz cars, “the CLA is a car that does not confuse mid range with mediocrity. Its powerful design underscores the sporty side of the Mercedes-Benz brand.” The gently sloping roof contour and the pronounced, hallmark curvature of the rear window provides the CLA with a coupéstyle character from the rear, too. The athletic impression from the rear results from the drawn-in C-pillars in conjunction with the shoulder muscle over the rear wheel arch linings. The tail lights are framed by the muscular lines of the shoulders which extend into the rear end, the horizontal orientation of the lights emphasising the rear’s powerful and aesthetic breadth. A large panoramic sliding sunroof is optionally available. This sunroof consists of a fixed polycarbonate cover at the front, a moving element made of mineral crystal and side trims to match the glass look. The interior design also contributes to the very special feel of Class. This is due to the selection of high-quality and the available combinations of materials. The instrument panel incorporates five round vents. The outer rings of the round vents have a high-quality electroplated silver-chrome finish. The airflow direction

is governed by a galvanised insert that reveals a meticulous attention to detail. The free-standing display screen features a black piano-lacquer-look front panel in combination with the flush-fitting silver frame of the extended COMAND Online multimedia system. The CLA is fitted with integral seats in the front and rear, underscoring its sporty character. The rear bench seat emphasises the outer seats (2+1 seater). Coloured contrasting stitching is available, according to the selected interior appointment options. A fibre-optic cable in the opening between head restraint and backrest is optionally available as part of the ambient lighting. The standard equipment of the new CLAClass is particularly generous with its air conditioning, three-spoke multifunction steering wheel plus 12 function buttons, steering column adjustable in height and longitudinal direction, green-tinted heatinsulating glass, Audio 20 CD radio with dual tuner, colour display and MP3- WMA- AACcapable CD drive, six speakers as well as Auxin socket and USB interface in the centre armrest for external audio and video devices, A colour display between the two large dials

•Interior of the car

in the instrument cluster is likewise standard ex-factory for the CLA. In keeping with its sporty positioning, the CLA is available with high-torque turbo engines, sports suspension and the optional 4MATIC all-wheel drive. The technical highlights of this new design icon include a new world record in aerodynamics for series production automobiles (Cd value: 0.22) and numerous driving assistance systems, including the further-developed Collision Prevention Assist which is able to warn the driver of an obstacle from a speed of 7 km/h and to initiate precision braking when the driver steps on the brake pedal. Established assistance systems, such as the Blind Spot Assist and Adaptive Highbeam Assist, are also available. The CLA comes with the Direct Steer system. This electromechanical power steering offers improved feedback to the driver in comparison to conventional systems and makes an important contribution towards overall efficiency, as the steering assist function only requires energy when the steering wheel is actually turned. Additionally it enables various steering assistance functions which are activated by the ESP control unit.

For the CLA 180, which will be available at any of the Mercedes-Benz dealership network, the petrol engine displacement of 1.6 litres, covers an output spectrum of 90 kW (122 hp) and 200 Nm of Torque. CLA-Class accelerates from zero to 100 km/h in 9.3 seconds and has a top speed of up to 210 km/h. The fuel consumption and CO2 emission figures of 5.4 l/100 km, All engines feature the ECO start/stop function as standard. The engines are combined with a six-speed manual transmission or with the 7G-DCT dual clutch automatic transmission, which reconciles comfort and sportiness in inimitable fashion. With optimum fuel consumption, low emissions and the world’s best Cd value for a series production vehicle of 0.22, the CLA-Class sets new benchmarks in efficiency in the medium-size category. “Driving pleasure and efficiency need not be mutually exclusive. The same is equally true of breathtaking design and world-class aerodynamic drag values. In all four areas, the CLA-Class sets the benchmark in the mediumsize category”, stated Professor Dr Herbert Kohler, Chief Environmental Officer at Daimler AG.

THE NATION MONDAY, MAY 18, 2015

MOTORING

Coscharis launches Discovery Sport

INCE 1948, land rover has been manufacturing authentic 4x4s that represent true ‘breadth of capability’ across the model range. defender, freelander, discovery, range rover sport, range rover and range rover evoque each define the world’s 4x4 sectors, with 80 per cent of this model range exported to over 170 countries. However, since its revelation in september 2014, land rover has amassed 15,000 orders for the new discovery sport, with 10,000 orders taken before the vehicle was available to test drive.Currently, Discovery Sport is available in 175 markets, which includes Nigerian market - courtesy Coscharis Motors. Last Thursday, the discovery sport was formally presented to the auto lovers. Oriental Hotel on Victoria Island was agog with automobile stakeholders gathered for the launch of Discovery Sport. Coscharis group president Dr Cosmos Maduka said the company is proud to be among the first in the Sub Sahara Africa market to achieve the feat. According to him, the new vehicle combines exquisite designs with innovative technologies and

Stories by Tajudeen Adebanjo

exceptional safety features. According to him, “the Discovery Sport is loaded with innovative technologies and delivering high levels of practicability, luxury, style and efficiency; it is the next chapter in the life of the discovery family.9900 “As it has been done with all preceding models, the Discovery Sport is ingrained with a compelling combination of off-road capability and on-road dynamics. The interior spacing, seating arrangement and safety innovations make the discovery sport an ideal family vehicle, while the extensive use of intelligent lightweight materials, start and stop technology and an efficient powertrain reduce fuel cost and environment impact. These are evidently critical factors considered in our market.” Maduka said the new model’s sleek design, aerodynamic silhouette, legendary land rover capability and flexible interior add to its uniqueness. Following up on the heels of the successful introduction of the design direction of the range rover model range, the discovery sport is equipped with a similar range of class-leading designs, technolo-

Porsche opens customer centre

ORSCHE Cars North America officially opened its new $100 million Porsche Experience Centre (PEC) and headquarters in Atlanta last week, with the 27-acre complex becoming the brand’s largest investment ever outside Germany. Showcasing Porsche’s innovation, forward-thinking and performance-driven ethos, the industryfirst facility is complete with a driver development track, classic car gallery, restoration centre, human performance centre, driving simulator lab and a fine dining restaurant. A state-of-the-art business centre features 13,000 square feet of conference and event space while the experience centre has been specifically designed as a destination for the public, automotive enthusiasts and Porsche customers.

An estimated 30,000 guests are expected to visit the uniquely designed Porsche Experience Centre each year. Visitors and corporate groups can enhance their driving skills, utilise meeting space in the fully-equipped business centre, view classic Porsche automobiles or dine at Restaurant 356, aptly named after the first production Porsche. The 1.6-mile Driver Development Track runs through the courtyard of the facility and includes six instructor-led driving modules. The Handling Circuit, Off-Road Course, Dynamics Area, Low Friction Handling Circuit, Low Friction Circle and the only Kick Plate in North America are designed to demonstrate the engineering and technological capabilities of Porsche models.

Ford to hold Ranger Odyssey Africa Challenge

HE Ford Motor Company, in association with its accredited dealer in Nigeria, Coscharis Motors, has announced call for entry into this year’s edition of the Ranger Odyssey Africa Challenge. The third edition of the Ranger Odyssey will see a total of 20 contestants navigating through the extremely challenging north-western region of Namibia on a 12-day expedition. The adventure starts off at Spitzkoppe and travels through Palmwag, Khuwarib and the barren and unforgiving Desolation Trail that follows the Huab River to Desolation Valley. “The Ranger Odyssey is a unique event that gives dynamic individuals with a spirit for adventure the chance to see some of the most spectacular parts of Africa,” says Tracey Delate, General Marketing Manager, Ford Motor Company of Southern Africa (FMCSA).While the life-changing experience is an exceptional prize in itself, there is also the allure of the grand prize which includes the use of an Odyssey-spec Ranger for a year, along with R5 000 or its naira equivalent (in case a Nigerian emerges win-

The Ranger is built for the tough, and through this competition, Ford aims to bring together a group of people across the continent who have adventurous spirit ... ner) worth of fuel per month. General Manager Marketing and Corporate Services, Coscharis Motors, Abiona Babarinde said Ford is offering Nigerians, with an adventurous spirit, the opportunity to experience the adventure of a lifetime through the Ranger Odyssey. “The Ranger is built for the tough, and through this competition, Ford aims to bring together a group of people across the continent who have adventurous spirit to experience the best Africa has to offer.” He explained that in preparation towards the Namibia competition, Nigeria will hold an antecedent event on May 29.

•Discovery Sport on display at the event

gies, innovations and safety features, all of which has led to the discovery sport being awarded with a five star euro ncap rating. With so many first, the new discovery sport is the world’s most versatile and capable premium compact suv, featuring a 5+2 seating (optional) in a footprint no larger than existing 5-seat premium suvs. “Our intention,” Maduka said “is to position the Discovery Sport as the leading and preferred premium compact suv within the next two years. Consequently, the focus is to

project it as a fleet variant and our retail sales directed at hard working and ambitious young executives and entrepreneurs in their late 20s and mid 40s.” According to Gerry Mcgovern, land rover design director and chief creative officer; the “...challenge has been to combine premium design with exceptional versatility; the two attributes must work in harmony.” this was achieved in the new Discovery Sport. “discovery sport’s dynamic design will resonate on an emotional level with consumers,

and this vehicle is more versatile than any other premium compact suv on the market.” Though there is the 2.2 diesel engine, the discovery sport is equipped with a range of four-cylinder turbocharged si4 2.0-litre petrol engines for our market, which is dominantly petrol based. this allalloy petrol engine features stopstart technology, high-pressure direct injection, low-friction internal components and smart regenerative charging for outstanding performance and economy.

Hyundai Motors appoints dealer in Uyo

YUNDAI Motors Nigeria Limited has expanded its dealership with the appointment of Uyo-based vending and aftermarket shop, Enebros Motors Limited as the company’s fifth agent including Warri, Awka, Anambra State and two dealerships in Lagos. Enebros Motors will cater for the growing Hyundai clientele in Uyo, Akwa Ibom State and provide sales and technical support to customers in neighbouring Oron, Eket and other Niger Delta communities. At a sign-on ceremony in Uyo, Hyundai Motors Nigeria Head of Sales and Marketing Jatin Nadkarni said the investiture was in line with Hyundai business expansion plan to guarantee seamless access to valued automobile products and services with the provision of higher level customer satisfaction and enhanced hospitality. Nadkarni urged the dealer to em-

brace Hyundai’s global vision of ‘Life time partner in automobiles and beyond’ by moving one step closer to customers and extending its role beyond being a simple sales and service shop to become customers’ lifetime companion. “It isn’t enough to be Hyundai certified dealer but you must be constantly focused and embrace the brand best practice for high level performance,” he said. While also encouraging the new dealer to value the basic principle of maintenance and improvement as standard ways of working throughout an organisation, Nadkarni said: “Our aim is to provide customers with best-in-class products and services and look forward to a long lasting and successful association.” Enebros Motors Limited Chairman, Elder Enefiok Udoh applauded Hyundai Motors’ resilience and de-

cisive response to her request for representation in the Niger Delta, pledging allegiance to industry best practice and create exceptional awareness for Hyundai products and services in the fledging Akwa Ibom market. Elder Udoh also promised to provide efficient after sales facility for existing customers in Uyo, Oron and Eket. “We discovered in our survey that most customers who drive Hyundai vehicles here and in neighbouring communities are confronted with challenges of after sales and in most cases, they travel all the way to PortHarcourt or Calabar for mere servicing but now that we are here we can bridge the gap.” . “We are ready to collaborate with Hyundai Motors to develop a local brand that could in future place Nigeria on the global map of technologically inclined,” he said.

Implementation of the national council on transport communique

ITHOUT any iota of doubt, the rate of road traffic crashes and fatalities in Nigeria is among the highest globally and unless we want to deceive ourselves, the rate is still on the increase in every state in Nigeria. The 2014 annual National Council on Transport Conference with the theme: Providing safe and secure Transportation: Building stakeholder’s confidence, was indeed a right step in the right direction. Consequent upon the very low rate of compliance to the previous resolutions of the council, it is obvious that the seriousness attached to the implementation of the resolutions of council is condemnable and a pointer to the fact that human lives are less valued by governments and their agencies in Nigeria. For the purpose of this article, I want to focus on two memoranda submitted and the council resolutions on both with an appraisal of the actions taken so far. A memo from the Committee of Vehicle Inspection Officers (VIOs) nationwide requested for the following: the establishment of Motor Vehicle Administration

Agency, Computerised vehicles Inspection Centres, funding and empowering of VIOs, curbing indiscriminate issuance of driver’s licence and appropriate classification and inspection of used vehicles at ports of entry. Another memo presented by the Association of Driving Instructors of Nigeria (ADIN) requested for the following: Clarification of the Supervisory Agency for Driving Schools (FRSC or VIO), structured theory and practical tests for intending Drivers to be conducted by the FRSC and VIO and Co-supervised by the Association of Driving Instructors of Nigeria (ADIN), Structured Training and Tests for Riders of Motorcycles and Tricycles and that driving schools should be encouraged and supported by the governments and their agencies to standardise their modes of operation. After some thought – provoking deliberations on the two Memoranda mentioned above, the National Council on Transport (the highest advisory body on Transport in Nigeria) resolved as follows (Resolution 4:18): that the Federal Ministry of Transport should as a matter of urgently,

Jide Owatunmise Registrar /Chief Executive, Professional Driving and Safety Academy

coordinate a meeting of Stakeholders comprising of Federal Road Safety Commission, State Vehicle Inspection Officers, Association of Driving Instructors of Nigeria and others for the development of mutually acceptable and workable framework for the classification of driver’s Licence, Regulation of driving schools, structuring of pre-licence theory and practical tests for learners,prelicence training and tests for riders of motorcycles and tricycles, Issuance of learners permits through driving schools alone, and other relevant issues that affect drivers, driving and traffic management. •To be Continued next week

THE NATION MONDAY, MAY 18, 2015

MONDAY MAY 18, 2015

POLITICS THE NATION

E-mail:- politics@thenationonlineng.net

The protracted crisis in the Lagos State Peoples Democratic Party (PDP) is threatening its existence. Assistant Editor LEKE SALAUDEEN examines the factors responsible for the split and its effects on the troubled chapter.

Obanikoro/ George rift tears Lagos PDP apart T

HE crisis in Lagos State Peoples Democratic Party (PDP) took a new twist last week when 34 members of the State Executive Committee (SEC) met at the party secretariat and announced the removal of the Chairman, Capt. Tunji Shelle (rtd). Explaining why he was sacked, the committee accused Shelle of mismanaging campaign funds and failing to ensure a transparent primary which ultimately led to the party’s defeat. Observers see the removal of the chairman as a fallout of the battle of supremacy between the Minister of State for Foreign Affairs, Senator Musiliu Obanikoro, and the party leader, Chief Olabode George. According to analysts, Obanikoro is locking horn against George over the control of the party. Shelle is a protégée of George. According to a source, the removal of Shelle was aimed at the leadership of George. Despite the sack handed to him by the SEC, Shelle has vowed not to vacate office. He insisted that his removal was null and void, adding that members of the SEC did not abide by the party’s constitution. The embattled chairman said Secion 59(3) of the constitution states the procedure for removing a member of my status. It states: “Notwithstanding any section of this Constitution relating to discipline, no executive committee at any level, except the National Working Committee, shall entertain any question of discipline as may relate or concern a member of the National Executive Committee, president, vice president, governors, deputy governors, ministers, ambassadors, special advisers or members of the legislative houses. “By section 31 (1), I am a member of the National Executive Committee and I have been attending meetings. So, they cannot remove me. I remain the Chairman of the PDP in Lagos State. The so-called SEC members would be sanctioned for their action”. Shelle lent credence to the speculation that Obanikoro instigated his impeachment when he said “one of the aggrieved aspirants at the governorship primary sponsored my removal.” The primary, which Jimi Agbaje won, caused a friction in the party last year. Obanikoro and his supporters rejected the results and went to court. Obanikoro alleged that George and some party elders inflated the number of votes, which did not tally with the number of accredited delegates. It took the intervention of President Goodluck Jonathan before Obanikoro withdrew the suit. Shelle said the move to remove him was conceived long before the primaries, took place. He said efforts were made to rig the primaries, but I stood my ground to prevent the illegalities. Until now, the so-called opposition in the system has not accepted defeat, he said. “I tried as much as possible to curtail their excesses so that their actions would not affect our chances in the general elections and this I was able to do until when they carried out their failed coup. “The emergence of Agbaje as the PDP candidate was well received by these people who did the impeachment. They were disappointed and were, at all times, finding a way to fight back. Agbaje remains the best candidate ever produced in the history of the party and I have no regrets whatsoever to have presented Agbaje and other qualified candidates for the elections.” But, the newly appointed acting chairman of the party, Mr Kamaldeen Olorunoje, disagreed with Shelle on the legality of his removal. He explained that there were allegations against Shelle. A committee was set up to investigate and

• George

• Obanikoro

Observers see the removal of the ‘chairman as a fallout of the battle of supremacy between the Minister of State for Foreign Affairs, Senator Musiliu Obanikoro, and the party leader, Chief Olabode George. According to analysts, Obanikoro is locking horn against George over the control of the party. Shelle is a protégée of George. According to a source, the removal of Shelle was aimed at the leadership of George

‘

establish the veracity of the allegations. The committee recommended his removal and that had been done. It was unanimously decided that I should take over the leadership in acting capacity. This is democracy. It is a game of number. The State Executive Council is made up of 49 members out of which 35 endorsed the removal of Shelle. The decision was backed by more than two-third majority as required by the constitution. Even after the decision was taken, more members have indicated to join our rank. We have come to the conclusion that Shelle’s leadership is not the best for the Lagos PDP, if the party must make progress. On the allegation that Obanikoro sponsored the impeachment, Olorrunoje denied it. He said Obanikoro can never influence him because Obanikoro met him in the party. “I am a founding member of the PDP. The issue at hand doesn’t concern Obanikoro. What does he stand to gain? We are concerned about how to restructure and reposition the party for future elections. Though I am Obanikoro’s friend, I believe in the party’s supremacy more than Obanikoro. He can’t dictate to me. Despite the fact that we are friends I joined the party before Obanikoro. We were together in the Grassroot Democratic Movement, but we parted ways when he went to the Alliance for Democracy (AD) and I joined the PDP. I have an independent mind when it comes to taking decision”. Youth activist Babatunde Davies is happy with the development in the Lagos PDP. He said the removal of Shelle

will put an end to dictatorship in the party. According to him: “Shelle was in office playing the bid of Olabode George. There is no transparency and accountability in the party. It is run according to the whims and caprices of the party leader. For the just concluded general elections, the Presidency released millions of naira to the state chapter to mobilise support for the party. “We only hear of figures. The funds were not released for the purpose it was meant for. I am calling on the PDP national headquarter to probe the campaign funds sent to the Lagos State chapter. I can assure you that, if the funds were judiciously used, the party would have performed better than it did. This is not the first time that party funds would be diverted. That explains why the PDP keep losing elections in the state. “I think the likes of Bode George and Adeseye Ogunlewe should retire from politics and allow the youths to take over the leadership. For as long as they remain leaders, PDP will never win in Lagos. Olorunoje and his group should not be distracted in their struggle to give the party a new lease of life. We cannot continue to be telling the same story every election year. Enough is enough. We need a change of leadership in Lagos PDP. To a party chieftain, Mrs Gloria Adebajo- Fraser, the removal of Shele was wrong. She described it as a premature exercise that will end in futility. According to her, the removal was at variance with the provisions of PDP constitution. “It cannot hold as the National Working Committee is the only platform that can entertain the recommendation of the State Working Committee and take a decision after he(Shelle) has been given a fair hearing. “It is obvious that there is an ulterior motive behind the sudden drive to remove the chairman suddenly. I totally disagree with the fact that the call for the National Chairman of PDP, Adamu Mu’azu to resign could justify the unconstitutional attempt to to remove the Lagos PDP Chairman. One has nothing whatsoever to do with the other and is only an excuse for initiating a leadership change in the party. The change should be by the people when the next congresses will be held witout imposition of candidates. “The stakeholders should be given a chance to elect their representatives and leaders on a level playing field. May be the members are not interested in Bode George or Musiliu Obanikoro. May be they want a change. May be they want a new face. It is a season of change in Nigeria’s political landscape.” Adebajo-Fraser urged party leaders to be patient, saying the Lagos chapter needs to be united and all leaders ought to be carried along. She said: It was not a time to fight, but a time for peace.

THE NATION MONDAY MAY 18, 2015

Buhari is president-elect today by the grace of God and the political ‘sagacity of the Bola Tinubu machinery. No amount of noise and hyping of the so-called almajiri vote by some people can change this fact

In this piece, Mosun Adebamiro examines the contest for the Senate Presidency and contends that the odds favour Senator Ahmed Lawan from Yobe State.

‘Buhari should be fair to all’

Senate Presidency: Lawan is the answer

HE framers of our constitution, like most others similar documents, made the Legislative arm the numero uno; that is, first in rank, order or prestige. And to many a Nigerian politician, the responsibilities and charm of the Office of the Senate President, epitomise the height of triumph at election into the upper chamber for whoever emerges as the occupier of the office. In addition, political analysts contend that the fierce contest for who becomes first amongst equals in the red chamber as currently the case in Nigeria is because as a matter of fact of law, whosoever becomes the number three citizen, aside from being the senate president, is also the Chairman of the National Assembly. It is against this backdrop that political watchers are not surprised a bit that the All Progressives Congress, APC has not been able to make a definitive pronouncement on which of the four geo-political zones of NorthEast, North-Centre, South-East and South-South will produce the Senate President after the North-West and the South-West had produced the President-Elect and the Vice President-Elect respectively. Although, if what a chieftain of the winning party is anything to go by, the North-East geo-political zone appears the favourite. According to him “if democracy, nay election, is all about numbers, then the North-East, which garnered the second largest vote in the last election after NorthWest should have the Senate Presidency, assuring that in a matter of days, the party hierarchy will formally make its decision on the issue public to the relief of people in the NorthEast and contestants from the zone that are in the race for the office. Political observers are of the opinion that aside from the large number of votes the APC got from the NorthEast geo-political zone, all the 109 senators-elect should not forget that the best that area of the country has had at the national level under a civilian regime, was the Prime Minister portfolio in the first republic: It has never produced a senate president. As agitation from people in the zone for the senate presidency is going on, so also campaigns by contestants who want to become senate president. As at last count, only two contestants from the zone have mounted serious campaigns. They are Senator Ahmad Ibrahim Lawal from Yobe State and Senator Ali Ndume from Bornu State. Two other contestants from the geo-political zone of North-Central are eyeing the office, apparently hoping the post will be zoned to their area. From their various campaign methodologies thus far, political watchers have characterised Lawan as a marathon runner while Ndume is regarded as short distance running. According to them, Ndume, like Seantor Danjuma Goje from Gombe will not match Lawan, who has constructed solid political bridge across the nation since being a parliamentarian at the inception of democracy in 1999. The political predication that Lawan will ultimately emerge victorious in the race began its manifestation, when “a charity begins at home” press statement, announced that Yobe State caucus of National Assembly has endorsed him as Senate President. It was issued against the back-

ground of a campaign of calumny. The Press Statement added: “We therefore call on all North Eastern government and National Assembly caucuses to support this move as well as other geo-political zones of Nigeria”. The government and people of Yobe State have also thrown their weight behind the senator. As if responding to the clarion call made by Yobe State caucus, all senators-elect from the North-West zone, in a block endorsement, declared that Lawan has what it takes to lead the National Assembly. The South-West APC caucus after over six hour meeting in Abuja has also endorsed Lawan with 12 out of 13 APC senators-elect resolving to have him as the Senate President. The only absentee from the meeting was unavoidably absent and his vote was assured the frontline contestant. The APC senators-elect from the zone further assured Lawan that they would convince their distinguished PDP colleagues in the zone to also vote for him. Political watchers have described the endorsement by the South-West senators-elect as “an eloquent testimony to obvious acceptance of Senator Lawan by the party leaders from the zone before now. Although officially the senate presidency has not been zoned to North-East, political observers said the body language of APC leaders at the national level indicate that Lawan is their man for the senate president. The in-road made by Lawan into the South-East caucus of senatorselect, according to political analysts, shows the need for Nigerian politician who wishes to play any role at the national level to be a bridge builder like the contestant. While all the senators-elect from the zone emerged on the platform of PDP, the political “handshake” that Lawan always extend to all including his “ranking” colleagues from the zone, according to insiders, soften the ground for him before his recent meeting with the caucus. At the end of the meeting, Lawan was assured of the zone’s bulk endorsement, which a PDP chieftain at the meeting, was reported to have said would be announced in due course. Analysts are of the opinion that since APC senators-elect from Yobe State, his primary constituency, the NorthWest and South-West have endorsed Senator Lawan, “it is the custom in parliamentary practice to take cognisance of what has happened in other zones, especially in a contest of this nature and this could not have been lost on the South-East caucus in their deliberations on the contestant”. Advancing reason for the successes being recorded by the campaign team of Lawan in the South-East and South-South caucuses, a PDP insider said: “It is payback time. Lawan has been a pillar of support for the outgoing leadership in the Senate and nobody should be surprised if they had decided to campaign for him in Southeast and I can tell you that our distinguished PDP colleagues in the Southsouth caucus are ready to back us in making Senator Lawan our Senate President.” Political pundits have contended that it is certain that the South-South senators-elect will also go the way of the South-East in giving their votes to Ahmad Lawan For the North-Central, Political ana-

‘

•Udom

‘

It is payback time. Lawan has been a pillar of support for the outgoing leadership in the Senate and nobody should be surprised if they had decided to campaign for him in Southeast and I can tell you that our distinguished PDP colleagues in the Southsouth caucus are ready to back us in making Senator Lawan our Senate President

’

lysts said while senators-elect from Kwara State are in support of Saraki “for obvious reason” the zone at the moment “is divided due to the in-road made by Lawan as some senators-elect from states of Niger, Kogi and Plateau are in full support of Senator Lawan candidature”. Political foot soldiers are of the opinion that once the zoning arrangement is formally announced and North-East clinches the Senate presidency, North Central will go the way of Lawan as another contestant from the zone in person of Senator George Akume will also drop off from the race. Dismissing the likelihood of the Tambuwal episode playing out on the red carpeted floor come June 4, political analysts said such would not be allowed by APC national chieftains who are toiling day and night to solidify the foundation of a solid party system already in place at the national level. From the various campaign statistics gathered from the field by political observers Senator Ahmad Lawan would coast in as the Chairman of the National Assembly and the President of the Senate with not less than 87 senators-elect making the dream come true. Adebamiro, a political analyst, lives in Kubwa, Abuja.

HE Coalition of Oodua SelfDetermination Groups (COSEG) has said that the country would be adversely affected, if the tremendous goodwill enjoyed by President-elect Muhammadu Buhari is sacrificed on the altar of ethnic chauvinism. In a statement, COSEG said it was disturbed by statements credited to Northern leaders including Kano State Governor Kwankwaso and Justice Mamman Nasir, that the North single-handed gave victory to the president-elect. Reminding the leaders that the North had voted massively for Buhari in earlier elections, which he lost, COSEG said that it was the alliance between the Hausa-Fulani and the Yoruba that produced the remarkable victory. The group said: “Let us begin by stating some incontrovertible facts. Firstly, Gen. Buhari had tried and failed at three previous attempts to become the President of Nigeria. Secondly, on his fourth try, he has now emerged as President-elect. Thirdly, Buhari is president-elect today by the grace of God and the political sagacity of the Bola Tinubu machinery. No amount of noise and hyping of the so-called almajiri vote

by some people can change this fact. The almajiris did not just start voting for Gen. Buhari. So, what made the difference between Buhari’s past serial failures and his success this time around? The only credible explanation, in our view, is the intervening variable of the involvement of Asiwaju Bola Ahmed Tinubu and the Yoruba nation on the side of Gen. Buhari for the 2015 election.” It expressed surprise that the arrowhead of the alliance, Asiwaju Bola Ahmed Tinubu, is being criticised for seeking to ensure that the Southwest and its allies are adequately compensated for its efforts in making the victory possible. According to COSEG: “Since the elections, however, and as the euphoria of victory has set in, some curious causes for concern have arisen. Many new faces that were nowhere to be found on the hustings have suddenly emerged to claim space in the emerging Buhari presidency. Their objectives seem clear enough. Firstly, they wish to reap where they did not sow. Secondly, and more worrisome, they seek to deny those who labored valiantly in the wilderness of opposition of the fruits of their labour.

‘Dickson deserves second term’

HEAD of the next governorship election in Bayelsa State, one of the founding fathers of the state, Chief Thompson Okorotie , has called on the people to support Governor Seriake Dickson for a second term. He made the call in a statement in Yenagoa, the state capital, shortly after a meeting with leaders and members of a socio-cultural group, the Niger Delta Solidarity Forum, which is at the vanguard of the emancipation of the the Niger Delta region. Okorotie, who reviewed political developments in the state, said the choice before the people is continuity. He added: “Having lost power at the centre, we have to come together and be unified for a common purpose that can realistically help us to reposition for greater political relevance. It is imperative that all Bayesians and the entire Niger Delta remain committed in our support for the Dickson Restoration Government. We have seen what he has done and his resolve toward the key interest of the Ijaw nation, which no one can wish away”. Okorotie cautioned against politics of greed and self-centeredness

•Dickson

which, he said, was the bane of underdevelopment. He said true development can only be possible when public spirited leaders are at helm of affairs. This, he said, should be the concern of the people rather than blackmailing those in government. While endorsing Dickson for a second term, he advised the people to disregard attempts by those he referred to as “desperate politicians” to run down his administration. He said the governor’s record in infrastructure, education, health, urban renewal, economic diversification and general restructuring of government to deliver on the welfare of the people were clear indications that he meant well for the state.

• From left: Mr. Ademola Sadiq, Cardinal James Odunbaku, Mr. Afolabi Adams, Otunba Dele Ajomale, Chief Funso Ologun and Hon. Biodun Salami at the Lagos State All Progressives Congress (APC) Secretariat, Ogba, Lagos when they received Mr. Adams, who trekked from Abeokuta to Lagos in honour of Asiwaju Bola Tinubu for his role in the 2015 elections.

THE NATION MONDAY MAY 18, 2015

The Yorubas usually have other chieftaincies which are ‘mere tittles. With the passage of time however, these tittles have become common place and now for civil purposes ’

Nigeria: Political power imbalance: The bane and chain down of Nigeria’s progress and development •Excerpts from a 261-page book by Sir Olaniwun Ajayi ...Continued from lastweek.

S stated earlier, Yoruba as a race are social, polite and remarkably hospitable. The Yorubas are very conscious and particular about the good name of the family and its integrity. Therefore, cases abound where a family member would be condemned to slavery by a unanimous decision of all family members or relatives if and when such a member has brought disgrace on the family. Thus, for example, such offending member could be castrated forcibly in case of serious offences like incest. Indeed, he might be banished out of town or the neighbourhood to where he might not be known. The Yoruba abhor their family being disgraced or embarrassed. In some cases, rare cases though, the family of a Yoruba man would tell him 'sokunrin' meaning "be a man." This is asking the erring man to commit suicide when a heinous, abominable, ignominious act has been committed; an offence that can bring shame, disgrace or a really bad name on the family. 46 It may be of some worth or significance to deal with more Yoruba traditions, manners, culture and values. In that regard, we may refer briefly to the Yoruba form of marriage. In the normal course of events, there are three stages regarding marriage in Yorubaland. First, there is intimation stage, secondly, a formal betrothal follows and lastly the marriage. With respect to intimation, when a boy is interested in a girl, and vice versa, the boy or girl will inform his or her parents. If the parent of the boy or of the girl are interested in the boy or girl as the case may be, such parents will look for someone whom they like and whom they will appoint as their go-between, that is, middle man who will make necessary enquiries about the background or antecedent of the families (mother and father) of the would-be husband or would-be wife as the case may be. The purpose of the secret or subtle enquiries is to satisfy themselves that the family of the other side is free from any taint or stigma of any sort: stain like hereditary disease such as insanity, epilepsy, leprosy or criminal tendencies. If after such subtle enquiries nothing unsatisfactory is reported, then mutual understanding will be established. Then, the consent of the girl's parents will be sought, which consent will be readily and gladly given. Then an informal meeting of the two families will be arranged. This will be accompanied with some gifts from the boy's parents to the girl's parents. This is the second stage of the marriage called betrothal. The marriage proper will come up after dowry (Imana) has been settled. With the dowry will come from the bridegroomto be, presents to the intended bride- cloths of good quality and various types, kola-nuts, alligator pepper and bitter kola and of course, some money. 47 The proper marriage will follow at a time agreed and appointed by the two families. The foregoing is only a part of the procedures and ceremonies; for a full and proper Yoruba form of marriage is much more involved than narrated hereon. The truth and the fact are that modern development, arising from intercourse with other nations, a sort of aberration or vice has crept into Yoruba system of marriage. All the do's and dont's of yesteryears are no longer there.48 It will be labouring the obvious to state that Yoruba manners, customs, values, traditions, customary beliefs, social forms, and their material traits are a myriad. In that regard, to deal with them fully and copiously could be a book by itself. It may be relevant and appropriate at this juncture to refer to chieftaincy in Yorubaland. Apart from general tittles and war tittles, there are traditional tittles throughout Yorubaland, peculiar to each community within the Yoruba race. Thus, there is the tittle of Olisa. In some communities there is no Olisa, but where there is Olisa, he will be next to the Oba. Where the Olisa tittle does not exist, there may be Balogun. In that event, he will be next to the Oba. In almost all Yorubaland, there is the tittle of Oliwo. Chief Oliwo is the king of the Osugbo. Next to the Oliwo in the Osugbo is the Apena. In both Olisa and Oliwo chieftaincies, they are ruling houses, wherein the chieftaincies are rotated among the ruling houses. Apena chieftaincy is not a ruling house chieftaincy. As regards Apena, the Oliwo nominates a candidate of his choice for the consideration and approval of Osugbo leaders. The overall consent and approval lie with the Oba whose consent and approval cannot be unreasonably withheld. Similarly, Oba's consent is necessary with respect to Olisa's and Oliwo's chieftaincies. There are some chieftaincies of lower security or of less importance in each community about which we need not bother ourselves. But additionally, in each community there are many chieftaincies which are not peculiar to that community and in quite a few cases, to each family. Of course, there are some chieftaincies which the Oba can create and confer on worthy sons and daughters of the community or on a man or woman outside the community. that community and in quite a few cases, to each family. The Yorubas usually have other chieftaincies which are mere tittles. With the passage of time however, these tittles have become common place and now for civil purposes.

•Sir Olaniwun

Theft was very rare. Scantiness or ‘ complete absence of clothing notwithstanding, the Yorubas were noted for being loathsome of fornication. Friendship was warm and sincere among the Yoruba people. Children were obedient and dutiful to their parents

’

The following are some of the chieftaincy titles of lower seniority. Balogun: Commander-in-Chief. His principal lieutenants are Otun Balogun and Osi Balogun, that is the generals commanding the right and the left wings respectively. After Osi Balogun comes Asipa: This tittle is followed by Ekerin, Ekarun and Ekefa, i.e., the fourth, the fifth, and the sixth. There is Seriki chieftaincy: which is of junior grade but has is principal lieutenants who are the Otun and Osi, then the Ekerin, Ekarun and Ekafa. Within this group, is the Asaju tittle. Under the old Yoruba system, the Asaju was the leader of the Van. In modern time, however, the Asaju will place himself above the Balogun, and the Seriki. Then there is Sarumi: The chief of cavalry. The Bada is another tittle which in the olden days would answer to a knight, an accomplished horseman and a skilful swordsman. Today however, these titles are conferred by the Oba or Baale as the case may be, either at the instance of the Oba or Baale or at the ardent request of the person desirous of becoming a chief. The Oba or Baale will lay down the conditions which the aspirant will be ready and willing to meet. We can now safely pay due attention to the Yoruba ways of showing regard, affection, recognition and perhaps felicity, surely as a way of life. That is Salutation or Greetings among the Yoruba. Every aspect of the Yoruba life carries with it salutation. Working, sleeping, standing, well, unwell, bereaved of a loved one, bereaved of father or mother or senior one in the family, or farmer working on his farm, a blacksmith in his smithy, an expectant mother, an old man or old woman, someone on a journey or someone on a return journey, and so on and so forth. Neither time nor space is available to deal fully with this aspect of Yoruba life. For the purpose of this chapter, we shall make a brief mention of the Yoruba salutation or greeting. Let us start with a Yoruba home. Early in the morning, the wife will rise and greet her husband 'k'aro' (good morning) kneeling down. The son will get up prostrating to greet his father and his mother, "e karo". meaning good morning, in like manner, the daughter will go to her father or mother, kneeling down to greet him or her, 'e kaaro', meaning good morning. If there are other older

men or women in the house, the mode of greeting will be the same. At night before going to bed, 'o d'aro' meaning good night will be said in the same way and to the same grade of people. Outside the home, indeed, in the public, the mode and manner of the salutation to the older ones, will decidedly be the same - prostrating or kneeling as the case may be. Yoruba men and women will greet each other or one another with due respect, both being courteous to each other.50 It is certainly the older man that will stretch his right hand to shake hands with the younger. Not the other way round unlike the case of some other ethnic groups. We have gone this far to underline trebly the culture, tradition, values and sense of fairness and justice of the Yorubas and their traits and attributes because these are the listion or bulwark on which the integrity, credibility, reliability and what the Yoruba call 'Omoluabi' ("gentleman" for want of appropriate word) of the race rely. Yorubas and their traits and attributes because these are At this juncture, it is apposite and indeed relevant, to refer to what a few people in history have observed and said about the Yoruba race in antiquity and how they have evolved over the centuries. It will surely be appropriate to start with a distinguished Nigerian politician whose ancestral root is traceable to the Yoruba race. He is the late Honourable Chief Anthony Enahoro one of the founding fathers of democracy in Nigeria. His remarks to which we like to refer are recorded in page 40 of the 1997 summer edition of lsokan Yoruba Magazine. Chief Enahoro said: "...May I now proceed from the general to the particular; in other words, yourselves, ladies and gentlemen, and the African nation you represent, namely the Yorubas. You and your forebearers have made a distinctive contribution to African existence-your history and culture; your music and what has been described as your 'Yeferity',your peaceful and non-imperialist relations with your neighbouring nations; your artefacts, like the Ife heads; your whole-hearted acceptance of democracy (it is still on record that only in the old Western Region of Nigeria, which was mainly Yoruba, did a party in power lose an election, accept it democratically and philosophically, and win again on the rebound; your forward-looking adoption of modern concepts of government-popular free education, regulation of the chieftaincy system by statue, popular project like the television and radio, Ife University, farm settlements, housing schemes, free interaction between religious communities; your dress modes (stylised aso - oke, for example); Your specific religious tolerance between Christians and Muslims, etc., these are attributes and traits which define, delineate and explain the character of nations and people. In their distinctiveness, they interpret and characterise the Yoruba, who and what they are, their position in black African context and other Nigerian and African nations." 51 Of all writers and historians who extolled the culture, traditions and virtues of the Yorubas, it is indisputable that none supersedes William Henry Clarke. Clarke committed himself to devoted and invaluable service in Nigeria with particular regard to African studies. Mr. William Clarke was a pioneer missionary of the Baptist Mission. For the period of four years, he served in Yorubaland, he devotedly studied Yorubaland and the society in remarkable and enduring detail. The product of his conscientious and assiduous labour is the book-'Travels and Explorations in Yorubaland 1854-1858,' which unfortunately remained in manuscript form for over one hundred years until, with thanks to them, the lbadan University Publication Committee directed that the manuscript should be published after due editing of it had been done by Dr.(as he then was) J.A. Atanda in 1971. We made copious reference to Clark's remark on the Yoruba earlier in this book. Without repetition of our comments on this subjective view of the Yoruba race by W.H. Clarke, a quick recourse to several pages in his book would be worthwhile. What with pages 186, 189, 237, 245 and 291 of Travels and Explorations in Yorubaland.52 Another eminent historian writing about the Yorubas is Robert Smith, the author of 'Kingdoms of the Yoruba.' Robert Smith, a senior lecturer in History at the University of Lagos, presented Yoruba history as the history of a number of separate sovereign states and people, pursuing their individual yet converging paths and conscious of their relationship to one another through common traditions of origin language and culture. Smith wrote thus: "The Yorubas of West Africa are a numerous people with many kings, among whom some twenty or more are rulers over what were formerly distinct and independent states, while the rest, amounting in one list to over 1000, are subordinate rulers whose territories consist of single towns and groups of villages. They form the third largest ethnic group in Africa's most populous country, some nine million of them living in the rich forest and farmland of South-Western Nigeria;....They are a Negro race, whose language belongs to the Kwa group...which predominates in West Africa; though it remained unwritten until the 1840s, Yoruba is rich in oral literature, and there are many dialects. Primarily they are farming people, cultivating their family lands in individual holdings, at the same time they have many ancient towns, so they appear to be the most urbanized of the people of tropical Africa;.... but Yoruba in its history and the bulk of its population, each has well over half a million inhabitants. Their art and culture are being increasingly studied; the incomparable" bronzes" of Ife, for example, are no longer seen as isolated and enigmatic phenomena, but are now confidently interpreted as testimony to the greatness of the Yoruba past and to its continuity." • To be continued.

THE NATION MONDAY, MAY 18, 2015

With ekpoita :funtreatsvilla@yahoo.com / 08077706130

CROSSWORD PUZZLE

ACROSS

DOWN

1. Celebration (9) 6. Greeting (2) 7. Documentation (6) 9. Indelible Mark (4) 10. Former (2) 11. Spread Out (3) 12. Final (4) 14, Resounding Noise (4) 15. In direction of (2) 16, Myself (2) 17. Eager (4) 19. Young Boy (3) 20. Father Christmas (10) 24. Being (2) 26. Tinkle (6) 27. Perform (2) 28. Tease (6)

1. Impression (4) 2. Cereal (4) 3. Created (4) 4. Amuse (6) 5. Celebration of Christ’s birth(9) 8. Free Air (6) 11. Paths (5) 13. Clawed 18. Deserve (4) 19. Juvenile (3) 21. Story (4) 22. So be it (4) 23. Musical Note (2) 25. Gladness (3)

SANTA PUZZLE Find alternative words to the clues below and fill them in their spaces in the grid.The answer to the first word on the grid “ORICK” has 4 letters which should be placed in their spaces in the grid being 1,8,6, and 15 as shown besie the word. The star word, an 11letter word denoting the yuletide will be revealed when done .

Story of the Christmas Tree

POETRY

The Legend of Christmas Tree

7 4

Just how powerful a symbol is the Christmas tree? Any Christmas tree, given the right kind of attention, can be perfect, and even humble things take on exalted meaning in the eyes of Christ. “The First Christmas Tree”Did you know that an • oak was the inspiration for the first Christmas tree? In this informative story, we learn how an eighth-century monk named Boniface chopped down an oak tree to prove an important religious point, and ended up viewing a small fir sapling as a miracle. • “The First Christmas Tree Lights”Ever wonder about the origin of Christmas tree lights? This story tells how Martin Luther changed the Christmas tree tradition with the addition of lights, the result of his frightening walk through the dark woods. It reveals the fascinating fact that Christmas trees were originally hung upside down, without lights. • “The Perfect Tree”This delightful story is told from the perspective of a small, unremarkable tree that worries whether it will be suitable for Christmas. Through the inspired care of a family, it fills the bill perfectly. Try reading this uplifting tale to a child — it will teach him or her some valuable lessons about caring for others. • “The Tale of Three Trees”What if Christmas trees could talk? What would they say? In this profound Christmas tale, three trees have grandiose hopes for their wood after they’re harvested, and all three are disappointed — temporarily. Eventually, they all play meaningful roles in the life of Jesus Christ. Make this inspirational story part of your family’s Christmas tradition. • “O Christmas Tree” The brief on Christmas Tree Stories ends here with the story about a “special” Christmas tree everyone thought was too small. Read ‘O Christmas Tree’ to find out how this special tree turned into a bright, beautiful spectacle that would remain with one happy family forever.

Pep Talk

Humour * What did Adam say to his wife on the day before Christmas? Answer:It’s Christmas, Eve! * What for the trumpet of Ken was kept in the freezer? Answer: Because he loves cool music. * What is the popular carol in Desert? Answer: Camel ye Faithful. * Why the Christmas tree can’t stand up? Answer: It doesn’t have legs.

“The spirit of Christmas is the spirit of love and of generosity and of goodness. It illuminates the picture window of the soul, and we look out upon the world's busy life and become more interested in people than in things”. - Thomas S. Monson

THE NATION MONDAY, MAY 18, 2015

DISCOURSE

Governance reform in Nigeria: Imperative of a new national productivity paradigm Text of the remark made by Dr. Tunji Olaopa, Permanent Secretary, Federal Ministry of Communication Technology as Chairman of the NISER Research Seminar Series on ‘Productivity in the Nigerian Economy: Issues & Challenges’ held in Ibadan.

HIS edition of the NISER Research Seminar Series (NRSS) could not have come at a better time. The focus on ‘Computing National Productivity’ brings to the fore, at this critical point in our national life, the challenge of calibrating a new productivity paradigm around which the task of good governance can be projected. We are in the middle of a significant political transition that we all hope will affect our governance trajectory, and the NISER team seems to have rightly inserted itself, in a fundamental manner, into the preparation at a most theoretic and practical levels. The choice of productivity measurement as the theme for this seminar to interrogate is in a sense rooted in a deep sense of history. It brings to mind the NISER Conference of 1968 that was called to discuss post-war reconstruction and development. That Conference was significant for two reasons. The first was that it came at a period when Nigeria was faced with the prospect of reconstruction after the terrible horrors of the Civil War. The second reason is that the Conference presaged the evolution of the Second National Development Plan, and its vision for a post-independence Nigeria caught in the complexity of postcolonial existence. Forty-seven years after that Conference and at moment of another critical historical transition, NISER has, with this seminar, recaptured the challenge of Nigeria of the 70s, which Prof. Wolfgang Stolper summed up as the tragedy of a nation that plans without fact. The glaring absence of a national productivity paradigm around which Nigeria’s governance trajectory can be computed as a strategy for mitigating a nascent culture of institutionalised waste in resource management merely today restates the predicament of the Nigeria of the ‘60s that plans without fact. Indeed, over three decades ago, Peter Drucker called our collective attention to the managerial truism that what is not measured cannot be managed. This implies that with this seminar, NISER is redirecting our attention to the critical missing link that must be confronted if we are to overcome the infrastructural gaps critical to national transformation. But the bigger worry is that the challenge, which has been with us for so long in our journey as a nation, is still protracted. Productivity, or the lack of it, which is rooted in statistics is still a daunting national issue close to thirty years after NISER and Stolper raised the warning about its spectre. National productivity cannot even begin to take off positively until and unless we begin from the root issue of national planning which in itself requires deep-seated rethinking as a corollary of the budgetary process and fiscal federalism. If productivity is the average measure of the efficiency of production and resource use in any nation, then we should really begin to worry about Prof. Stolper’s prophetic assessment. Planning without vital productivity measures complicates Nigeria’s governance predicament. Good governance is premised on the

capacity of the Nigerian state to efficiently and effectively provide adequate goods and services that will constitute the dividends of democracy for Nigerians. But then the task of governance itself has a subtle way of undermining the possibility of an effectively calibrated national productivity framework that affects governance, which raises the critical question: What are the challenges of national productivity that Nigeria faces? There are four major indices of our productivity palaver: a) the challenge that Nigeria faces as a resource dependent mono-cultural economy being one of harnessing resource efficiency to accelerate growth in the economy; b) the fact that it is not the quantum of government spending that is at issue, the challenge is one of balancing rates of investment with returns on investment; c) the reality, that the average output of the Nigerian workforce reflects, unarguably, low marginal productivity of labour even as national productivity is much more than just labour productivity; and d) the indisputable truism, that given the relationship between productivity, performance and service delivery on the one hand, and the fact that government consumes considerable tax resources as perhaps the single largest employer of labour and provider of services in the economy on the other, Nigeria will hardly advance beyond the capability and productivity of its public service and the level of its overall national productivity, which unfortunately who don’t care to measure. The long and short of the summary is that, within the Nigerian context, the cost of governance undermines the efficiency of national productivity. And this unbridled cost automatically generates institutional waste of such enormity that it multiplies and invades every aspect of the Nigerian governance institutions and processes. The real problem begins with the philosophy and perception of the role of the state in the developmental process. As a carry-over from the oil boom years, the state was conceived as occupying the ‘commanding height of the economy’ where it dictates the critical nuts and bolts of the developmental process. This understanding of the state effectively preclude an institutional architecture that is rationalized to fit into emergent integrated model of managerialism and deregulation/liberalization of the economy with the private sector as the engine of growth in the national economy. The unfortunate consequence is that the state becomes the focal point of institutional waste. This is close to what Brooks Stevens, the American industrial designer, calls ‘planned obsolescence’; the kind of waste that generates redundancies and pointless cost. It is in this sense that Nigeria is far from being a developmental state capable of facilitating effective and efficient governance paradigm that is conducive to delivering goods and services to its citizens. There are at least three levels of institutional manifestations that illustrate this obsolescence and redundancies. First, there is the issue of the cost and redundancies

•Dr. Olaopa

With respect to the much talk about bloated and skewed budgetary structure that lean more to the recurrent, there is a compelling need to set target benchmark for capital-recurrent budget that governments is seen to assiduously pursue based on timelines. generated by Nigeria’s presidential system of government perceived as a kind of spoil system that multiplies appointments and offices as means for compensating party loyalists and cronies. This system invariably emasculates the state’s development budget because of the huge pressure generated by the wage bill. There are also costs incidental on an expensive electoral system and nation-wide campaign requirements, as well as the need to maintain party offices in all states and LGAs. On the other hand, Nigeria possesses a large chunk of states which, in governance terms, are not just viable. This is because these states depend on life-support budgetary allocations from the Federation Account. These allocations are then drained down the black hole of recurrent expenditures. Yet, the depressing fact is that there are still clamours for more and more states and local governments. At the third level is the cost generated by the logic of representativeness that motivates the implementation of a grossly abused Federal Character principle which undergirds Nigeria’s federalism. More often than not, representativeness not only undermines meritocracy as the basis for institutional appointments, but it also generates costs and obsolescence. This unproductive logic of unguarded institutional multiplication made possible at these three levels of course extends critically to the conception of the Ministries, Departments and Agencies (MDAs), the powerhouse of administrative efficiency in Nigeria. The Nigerian state runs on the effectiveness of the MDAs. Yet, Nigeria’s anti-developmental institutional practices just as effectively stifle the optimal perfor-

mances of the MDAs. The first reason for concern has to do with the number of MDAs created without any supporting policy of winding them up. And where the government is able to manage a level of political courage to do this, the staffs are rather offloaded on the established line ministries. What results is an incredible level of redundancies in workforce composition with too many people doing too little, too many doing nothing and too few doing too much. The second concern at the administrative level has to do with the costs incidental on the primitive leveraging of the public sector for solving problem of unemployment. This has directly led to an institutionalised employment/wage policy which supports a system where recruitment of 1000 mediocre is favoured over recruiting well-remunerated 200 administrative/technocratic experts. This tradition is not made better within an adversarial industrial relations framework wherein collective bargaining agreement yields more to militancy in labour agitation totally outside of rational model of wage fixing or concessions to workers based on productivity. The last level of concern generated by the logic of institutional multiplication derives from the unconscionable practice whereby every federal agency irrespective of costs implication must have offices in all the states of the federation and some in all the LGAs, without consideration for ‘joined up’ cost saving institutional networking like the onestop shop managerial system and sometimes outsourcing in the context of expanding PPP practices and business models. One critical point from which waste immediately infests all the institutional manifestation adumbrated above derives from the uncoordinated implementation of the concurrent schedule of constitutional function that ties the Federal Government and the states together. This makes it impossible to avoid unnecessary duplication of programmes and projects which could have been facilitated by either. All these should be properly conceived as the fallout from a managerial tradition which lack critical benchmarks like ratio of capital to recurrent budgets as well as the reasonable proportion of personnel cost thereto, and so on. For instance, payroll cost is so large that there is nothing left over for training. The consequence is that the differentials between the cost of hiring staff with expert skills or training those with talents in the workforce is paid out to consultants who invariably help to make up for the huge skills and competency gaps in the MDAs as well as the overall distorted IQ of the public service itself. Thus, because we have often failed to measure labour productivity and the entire productivity quotient in the public service, we are left with the trivial task of treating the symptoms without any understanding of the real cause. It seems to me, in fact, that this is one of the key reasons why the reform of the civil service system in Nigeria has been unnecessarily protracted since the 1954. Yet, all is not gloom and failures. Nigeria’s reform effort is too constant and too focused for it not to have yielded some serious reflections about where we are and what we urgently need to do to undermine our administrative predicament. The FGN has for instance, taken

some steps to confront the productivity challenge that could be deepened, consolidated and scaled-up. In 2012, the FGN approved a new national policy on productivity. The philosophy behind the NPP is to have ‘a systematic and comprehensive programme of implementation on improving productivity of labour, machine, material, capital, environment, technology, attitude, energy and any other definable inputs of production of goods and services for various sectors of the economy.’ In the wings of that policy the FGN instituted the Oronsaye Committee on the restructuring and rationalisation of Federal Government agencies, parastatals and commissions. The rationale for the Committee is very instructive; it is ‘to meet the global socio-economic challenges which have rendered it inevitable for the Government to cut the cost of governance while ensuring accountability.’ Its ultimate objective is on how to empower the MDAs to do more for less, thereby jumpstarting a productivity trajectory which can transform the Nigerian socioeconomic profile. We can therefore say that with the implementation of the Oronsaye Report already commencing, the drive towards cost containment has begun. With respect to the much talk about bloated and skewed budgetary structure that lean more to the recurrent, there is a compelling need to set target benchmark for capitalrecurrent budget that governments is seen to assiduously pursue based on timelines. This would imply also that, in terms of industrial relations, wage concessions would no more be due to blackmail or unbridled union militancy but be seen to be managed conscientiously on principles and in the nation’s best interest, to depend highly on negotiated productivity agreements. The interventions required to move from policy to action will focus on key areas such as a) getting the critical sectors of the economy to articulate their productivity plans based on agreed national benchmark; b) strategic integration of the various productivity plans and targets into the national plan by the National Planning Commission; c) launch of productivity metrics and tools to be deployed to enable employers and employees to begin to sign on to productivity bargaining and gain sharing contracts, to institutionalise a new performance-driven compensation system and skillsbased workforce pricing; d) value system reorientation; e) national waste reduction strategy that is linked to a new national maintenance management policy and a new asset efficiency scheme around redefined guiding principles; f) a new national qualification framework aligned to education, training, certification and skills pricing policies; g) input structure including capital-overhead-personnel benchmarks and local content policy; h) SME expansion programme and new regional industrial benefits policy; i) research, development and innovation; etc. The goal of national productivity in Nigeria is possible. It just requires a huge dose of political willingness, administrative creativity and collective courage. We have begun the journey; it only requires some few more steps to get it done. This is the most critical challenge of the new administration.

THE NATION MONDAY, MAY 18, 2015

NEWS

Still licking the wounds of meltdown •Continued from page 3 ble. Margin loans exposures by banks have been estimated at about N1 trillion by the CBN. In the postmeltdown crisis management, about N23 billion was granted in forbearance package to stockbrokers to block the gaping holes created by margin loans. It was not until mid 2013 that SEC released guidelines on margin lending, restricting the number of stocks and persons that can engage in margin lending. Besides, some directors of quoted companies were found to have engaged in massive insider dealings and transactions, including granting unprotected loans to family members and cronies. In one instance, former directors of Resort Savings & Loans Plc and other insiders had nearly N4 billion in outstanding non-performing loans, more than three-quarter of the bank’s total balance sheet size. The former directors and their cronies were indebted to the tune of N3.99 billion. The company’s total assets and shareholders’ funds were N5.24 billion and N2.87 billion respectively, according to the 2011 audit. Out of the 25 insider credits totaling N3.99 billion, only one loan of N15.44 million, less than 0.4 per cent of total insider credits, was performing. The forfeiture of assets totaling N191 billion by the sacked Managing Director of Oceanic Bank International, Mrs. Cecilia Ibru, also underscored the massive underhand dealings that preceded the crash. By the time the 2007 United States’ subprime mortgage lending crisis riveted the global financial markets in 2008, the Nigerian market was already primed for recession. Large portfolio outflows by international investors, who were struggling to cover deficiencies in their home countries, exacerbated the decline and threw the entire market into panic. Margin calls failed to cover and both local and foreign investors were dumping shares, creating supply glut. Between 2007 and 2009, the market lost over 70 per cent of its value. The CBN responded to the contagious asset bubble and banking crisis on August 14, 2009 with the unprecedented takeover of management of five banks, including Intercontinental Bank, Oceanic Bank International, Union Bank of Nigeria, FinBank and Afribank Nigeria Plc, all of them quoted on the NSE and with hundreds of thousands of shareholders. The apex bank again on October 2, 2009 took over three other banks- Bank PHB Plc, Spring Bank Plc and Equitorial Trust Bank (ETB) Limited. Both Bank PHB and Spring Bank were quoted on the NSE. With the takeover of the banks, the investors’ world literally came crashing.

Counting the losses Shareholders lost substantial values due to the mergers, acquisitions, share reconstruction and restructuring that followed the takeover. Intercontinental Bank, Oceanic Bank, Union Bank and FinBank were acquired by other banks, with only a fraction of shares allocated to their shareholders after the re-evaluation of their real assets. For instance, in the case of Union Bank, then Nigeria’s second largest bank, the share reconstruction reduced outstanding ordinary shares from 13.51 billion ordinary shares of 50 kobo each to 2.53 billion ordinary shares of 50 kobo each based on exchange ratio of 16 pre-scheme ordinary shares for three post-reconstruction shares. The three other quoted banks- Afribank Nigeria, Bank PHB and Spring Bank, were nationalised in questionable circumstances in August 2011, wiping away all investors’ monies. Afribank Nigeria traded at a high of N36.89 in 2007. Bank PHB and Spring Bank traded at N35.26 and

N7.16 respectively. The market capitalisation of the three banks were N30 billion on the eve of the nationalisation. The recession also scared away several companies that had floated initial public offerings (IPOs) and private placements from listings at the NSE, trapping several investors’ funds in close-ended firms. Subsequent investigations showed that many IPOs and new issues were fraudulently over-valued. The postmeltdown crisis management by the NSE also included compulsory delisting of some quoted companies, shutting in more than N250 billion investors’ monies in the companies. Some of the delisted companies included: Okitipupa Oil Palm, Grommac Industries, Incar Nigeria, Intra Motor, Rietzcot Nigeria, Albarka Air, Aviation Development Company, Ceramic Manufacturers Nigeria, Wiggins Teape Nigeria, Onwuka Hi-Tek, Beverages West Africa, Ferdinand Oil, Foremost Diaries, Tate Industries, Footwear and Accessories Manufacturers, Aboseldehyde Laboratories, BCN, Christlieb and Maureen Laboratories. Others included: Epic Dynamics, Liz-Olofin and Company, Nigerian Lamps Industries, Niyamco, Oluwa Glass Company, West Africa Glass Industtry, Aba Textile Mills, Asaba Textile Mill, Enpee Industries, Flexible packaging, Krabo, NewPak, Nigercem and Tropical Petroleum, Starcomms Plc, Big Treat Plc, Afroil Plc. and Pinnacle Point Group. The entire textiles sector was wiped off by a combination of compulsory and voluntary delistings. Several companies that had raised huge funds in multi-billion naira share issues have nothing to show for the funds. Subsequent investigations showed that most of the companies either used their funds for speculative trading and got the funds trapped in the asset bubble at the capital market, or misappropriated the funds against the utilisation of proceeds stated in the offer document. With no fundamental value and loss of investors’ confidence, most investors have been stuck with these stocks which have stagnated at their nominal value of 50 kobo. Investors in insurance and other financial stocks are worst hit under this category. Out of the 29 insurance stocks currently on the NSE, only three stocks-AIICO, Mansard Insurance and Custodian and Allied, are trading at 100 kobo and above. Not less than 22 insurance stocks are stuck at their nominal value of 50 kobo while others are trading slightly above this base value. The depression in the insurance sector has defied global and national stock market recoveries, underlining the depth of asset bubbles in the sector. But in the early 2008, nearly all insurance stocks were trading in three digits, in multiples of their nominal

values and considerably in competitive prices with other related stocks. For instance, Prestige Assurance and Intercontinental Wapic Insurance two sectoral leaders by share prices, opened February 2008 at N11.40 and N10.60 respectively. Today, Prestige Assurance is stuck at 50 kobo per share and Wapic Insurance has slumped to 54 kobo. The inability of SEC to wield its statutory power to protect and compensate investors, worsened investors’ losses and pains. The Investment and Securities Act (ISA), which enshrines investor’s protection as the core mandate of SEC, gives it wideranging powers to protect investors from any form of abuse. SEC is statutorily empowered to “ intervene in the management and control of capital market operators which it considers has failed, is failing or in crisis, including entering into the premises and doing whatsoever the Commission deems necessary for the protection of investors” while it can also “in furtherance of its role of protecting the integrity of the securities market, seek judicial order to freeze the assets (including bank accounts) of any person, whose assets were derived from the violation of this Act, or any securities law or regulation in Nigeria or other jurisdictions”. Despite being in possession of mind-boggling evidence of sharp practices and abuses, the SEC neither sought for judicial orders to freeze ill-gotten assets of indicted executives, nor compensation for unsuspecting investors. Besides, investors continue to struggle with sundry market challenges, including share frauds by hard-pressed, illiquid stockbrokers and absence of proper documentation for their shareholdings. Many boom-era investors have come to the market on the wave-of-the-moment without prior investment education. This shortfall has manifested in growing unclaimed dividends and poor documentation and processing of shareholding. A September 2014 report by SEC

showed that unclaimed dividends had risen to N90 billion. Several shareholders only have deposit tellers to show for their subscriptions while many had received dividend warrants without their share certificates. The Director-General of SEC, Mallam Mounir Gwarzo, said the Commission recognised that there is still a huge gap in investors’ education. It was estimated that more than two million new investors joined the market during the boom-era period, making up about 40 per cent of the market’s domestic investors’ base.

Preventing reoccurrence “The regulators then showed lack of foresight, sound regulations could have staved off or lessened the harsh meltdown,” said Mikhail, echoing the call by Adisa for a proactive regulatory stance by the regulators and other SROs. Bankole urged the government to pay more attention to the capital market. He said: “They have not really focused on the market before; they didn’t provide any tangible assistance to the market. All over the advanced economies in Europe and America, share investing is a way of life. The government should make policies that will make the market attractive and provide incentives for quoted companies so that they can grow and provide better dividends to shareholders.” Fidelis also agreed on the need to use policy initiatives to address the lopsidedness and dominance of the Nigerian stock market by foreign portfolio investors, who are more speculative than investing. Managing Director, Capital Assets Limited, Mr. Ariyo Olushekun, said the best and most effective way to protect investors is to institute and enforce proactive measures that enhance market integrity and forestall abuses. “The importance of effective regulation in the capital market cannot be overemphasised. Regulations

‘

All over the advanced economies in Europe and America, share investing is a way of life. Government should make policies that will make the market attractive and provide incentives for quoted companies so that they can grow and provide better dividends to shareholders

‘

•Mikhail

must be designed to address current market realities and by this, they must be up-to-date and relevant. The importance of regulation and enforcement of rules is paramount in investors protection and in gaining investors confidence,” Olushekun said. Executive Director, Investment One Financial Services, Mrs. Abimbola Afolabi-Ajayi, said both the regulators and operators must make concerted efforts on investment education to forestall instances of abuses and ensure that investors play in the market according to their objectives. To many, mutual funds, despite their inadequacies, remain the best options for risk-averse investors. Less than 250,000 Nigerians are participating in mutual funds, underlining the penchant for individual shareholding. Chief Marketing Officer, Flobal Trust Limited, Mr. Abayomi Adeyeri, said investors should avail themselves of the services of professional investment managers noting that investments’ risks are greatly reduced when investors seek advice from professional investment managers and also show commitment towards continuous savings and investments. Both SEC and the NSE have been showing commitments to market reforms. The NSE has removed the placement of technical suspension on issuing company’s stock; implemented wide review of rules and regulations for operators; dealers and quoted companies; instituted a whistle-blowing mechanism; upgraded the market’s trading engine and infrastructure; instituted the investors’ protection fund to compensate investors for sundry operational defalcations and now pursuing demutualisation among others to further enhance the competitiveness of the market. The SEC, which sacked the former NSE management, has also led several reforms in rules, regulations, institutional capacity, market structure, products, disclosures, reporting standards, compliance and enforcements among others. The new SEC Director-General, a former stockbroker, who understands the intrigues and intricacies of the market, has shown early commitments to recapitalisation of inadequate market operators. Undoubtedly, the stock market, notwithstanding its cycles of fluctuations, remains the most attractive investment in the long-term; as empirically proven by several global research reports. But investors must keep in mind the articles of faith for the stock market: investing is risktaking, seek knowledge and expert advice and focus on the long-term.

THE NATION MONDAY, MAY 18, 2015

SHOWBIZ

Durban Film Festival calls for registration •Lists Nigeria’s Afrinolly as segment partner

S calm seems to have returned to Durban, South Africa, where the recent xenophobic attack was triggered, organisers of Durban Film Festival, have announced readiness for this year’s edition of the film event, which focuses mainly on motion picture works from African countries. Calling for delegate registration for the 6th Durban FilmMart (DFM), an integral part of the festival on film finance and coproduction, organisers say the event which is scheduled for July 17 to July 20, will cover Finance Forum, Master Classes and Africa in Focus – a programme of workshops, and also offers a series of networking and social sessions with like-minded industry representatives. “The overall objective of the FilmMart is to support, facilitate and develop the growth of African film content and create viable opportunities for business within the sector to flourish,” says Durban Film Office’s Toni Monty. “The Mart promises delegates access to influential experts, broadcasters and financiers in the film industry and creates a space for industry professionals to forge strategic relationships.” The DFM is a joint project of Durban Film Office, the City’s industry development unit, and the Durban International Film Festival (DIFF) as an endeavour to raise the visibility of African cinema, stimulate production on the continent, and facilitate project

By Victor Akande

collaboration between African filmmakers. Partners and supporters of the Durban FilmMart 2015 that will be represented in Durban, include Afrinolly, a Nigerian company, International Film Festival Rotterdam’s (IFFR) CineMart, the International Documentary Film Festival Amsterdam (IDFA), the Berlinale Film Festival, HotDocs - Blue Ice Documentary Film Fund, New Cinema Network Rome, Produire au Sud, Restless Talent Management, French Embassy South Africa, NFVF, KZNFC, VideoVision Entertainment , Goethe Institute, Organisation Internationale de la Francophonie the City of Durban and many others. This year’s Master Class in Film Packaging and Finance, is entitled New Film-Making Strategies; from South Africa to Pan-Africa and towards the Global Market. Sponsored by the National Film and Video Foundation (NFVF) and KwaZulu-Natal Film Commission (KZNFC), the master class will be presented by leading international film and creative industry specialist and published writer Angus Finney. Finney comes to the Mart having actively been involved as executive producer on many films, including Neil Armfield’s Candy with Heath Ledger, Roger Michell’s The Mother with Anne Reid and Peter Vaughan and Rose Troche’s The Safety of Objects with Glenn Close, and others. “We are really pleased to be able to offer the delegates an opportunity to interact with and learn from someone of the caliber of

• Chike Maduegbuna, CEO Afrinolly

• Angus Finney

Finney,” says Vuyo Sokupa, NFVF’s Head of production and Development. “Finney comes with years of academic and field experience in film packaging and finance, the cornerstone of developing a film project, and we believe his session will be incredibly valuable to those attending.” Finney has spent the past three years working as a risk manager and media advisor for Octopus Media, a division of Octopus Investments, a City of London Fund Manager, and is also Course Director for the Exeter University/London Film School MA in International Film Business. He holds a PHD in Business Strategy from Cass Business School in London, an MA in Film and Journalism from

New York University and a BA from Sussex University in International Relations. His training includes working with Creative Skillset, Creative London and the Film Distributors Association, to mention a few. His professional work extends to South Africa, UAE, Ireland and New Zealand in the past five years. The DFM’s co-production market, for selected film projects from submissions made, sees roughly ten feature films and ten documentary films selected for mentorship, and presentation to industry experts during this time. Following rigorous meetings and sessions with these experts, projects are awarded a number of relevant grants for further development.

Tiwa Savage celebrates step-daughter

Desmond Elliot, other actors in Okpekpe Race

By Ovwe Medeme

By Joe Agbro Jr.

AVIN Record’s first lady, Tiwa Savage, Thursday, sent out birthday wishes to Bisi Balogun, daughter of her husband and manager, Tunji ‘Tee Billz’ Balogun who just turned 1. “Daddy’s little angel. Happy birthday Olabisi Sheree Balogun... We celebrate you today and always princess,” she posted on her Instagram. Earlier in the day, Tunji also gushed about his little girl on Instagram. He said: “Happy Birthday to my reflection! She’s sweet and kind to all that she knows, her heart gets bigger and brighter as she grows. She’s an angel in disguise with the most beautiful eyes. She’s one of God’s greatest gifts to me. May God protect you from harm and trouble, empower you with love, grace and compassion. Strengthen you with wisdom, courage, and integrity,” he also posted. Tee Billz has two kids from previous relationships. The music talent manager is also expecting a baby with Tiwa Savage.

N a bid to show solidarity with the governor and people of Edo State, some Nollywood actors, on Saturday, participated in the third edition of the annual IAAF certified 10km Okpekpe road race. Aside the presence of Desmond Elliot who recently won election to represent his constituency at the Lagos State House of Assembly, other notable Nollywood actors spotted are Moyo Lawal and Kanayo O. Kanayao. Elliot, on Saturday, posted a smiling picture of himself, wearing an Okpekpe road racebranded fez cap. He tweeted the shot with the caption: ‘Moyo Lawal and yours truly.’ The Nollywood celebrities joined the Edo State governor, Comrade Adams Oshiomhole in the celebrity version of the race. In the VIP race, Oshiomhole won with a time of 88 minutes. Alex Korio of Kenya won with 29 minutes, 20 seconds to come first. Leigh Gabriesileshe of Ethiopia came second with a time of 29 minutes 22 seconds while Amos Muteh of Kenya came third with a time of 29 minutes,

24 seconds. In the female category, Tanui Nkele of Kenya came first with a time of 33:34, while Rino Ripo also of Kenya came second with a time of 33:52. Mary Wasera made it a clean sweep for the Kenyans with a time of 34:31 to come third. The first prize winners in both the male and female categories went home with $25,000 each, while the second prize winners got $15,000 each. The third prize winners in both categories got $10,000 each.

By Joe Agbro Jr.

Lola Maja launches make-up competition

LONING of social media accounts seems to be one of the prices celebrities have to pay for stardom worldwide. And highlife musician, Flavour Nabania is not comfortable with the trend, going by the singer’s recent tweet over the weekend. ‘This fake @2niteflavor on ig, your cup go soon full,’ Flavour posted on his Twitter account, referring to his impostor on Instagram, a picture-sharing social network platform. ‘You keep deceiving fans and collecting money from them. Your end is near,’ he said further. Flavour’s official Instagram account is @2niteflavour. Some artistes have had their fans complain after suffering untoward behaviours from their perceived ‘stars’.

costumes is ‘The Carnival Queen.’ It is opened till midnight, Friday, May 22, 2015. According to Maja-Okojevoh, the winner will receive a Sacred 180 Rainbow Eyeshadow Palette (3 levels), a pair of creative lashes and a neon one Creative Artistry Class with the award-winning make-up artist. ‘The make-up should be glamorous, sassy and very creative,’ she said. For the competition which will be opened to voting for 48 hours and winner announced on Monday, May 25, interested make-up artists are expected to submit one image of their work and a short narrative on the inspiration. The picture needs to be tagged on Instagram @mysacredbeauty or facebook at www.facebook.com/mysacredbeauty and emailed to info@mysacredbeauty.com. Pictures are not expected to have been airbrushed.

Flavour warns Instagram troll

By Joe Agbro Jr.

ENOWNED make-up artist, Lola MajaOkojevoh, over the weekend, launched a make-up competition for Nigerian make-up artists as part of her signature series. She calls it Sacred Artistry Creative Competition. The theme of the competition which she designed to encourage adornments and

THE NATION MONDAY, MAY 18, 2015

NEWS El-Rufai: Nigerians should ADUNA State Govpity Buhari ernor-elect Nasir El-

Rufai has urged Nigerians to stop congratulating him and President-elect Muhammadu Buhari. The former Federal Capital Territory (FCT) Minister urged Nigerians to pray for them to succeed in revamping the comatose economy they are inheriting. El-Rufai said he and Gen. Buhari were inheriting bad governments, adding that the situation had become so bad that the Goodluck Jonathan-led administration obtained a loan to pay salaries. The governor-elect spoke yesterday at two events at the Arewa House in Kaduna. The events were a special reception for elected officials by Kaduna Peoples

From Abdulgafar Alabelewe, Kaduna

Association (KAPA) and a special prayer for them by APC Yoruba Political Forum. El-Rufai told KAPA that Kaduna State had over N90 billion debt, an amount he said may increase to N100 billion before the May 29 handover date. But the governor-elect assured that his administration would not share public funds among persons or groups, no matter how highly placed they are. El-Rufai, who got prayers for the success of his incoming administration, said the next government needed a lot of prayers to succeed.

Suspected herdsmen kill three Tiv farmers

HERE is tension in Gwer West Local Government Area of Benue State, following the killing of three farmers by suspected Fulani herdsmen. Worried by the killings, the Special Adviser to the Governor on Security, Air Commodore John Ugboh (rtd), has ordered the Fulani herdsmen to vacate the area to enable the

From Uja Emmanuel, Makurdi

famers do their cultivation of food and cash crops. Ugboh said the Fulani herdsmen should leave the area because it was agreed at a peace meeting that six cows worth N300,000 were stolen. The governor’s aide said the meeting agreed

that if the money for the cows was paid, the herdsmen would leave. In a statement at the weekend in Makurdi, the state capital, Ugboh said the Benue State Police Command had been informed about the killings. The statement said the command assured to enforce the agreement. The security adviser expressed concern that Gwer

West Local Government Area’s Chairman Benjamin Dugeri had paid the money. He noted that rather than vacate the settlement, as agreed, the herdsmen killed the three farmers. Ugboh said the herdsmen should leave the area in the interest of peace and to enable the famers do their farming ahead of the rainy session.

Ex-Kogi Governor Ibrahim injured in auto crash

HE convoy of former Kogi State Governor Ibrahim Idris had an accident at the weekend when it rammed into a stationary vehicle at Okabo, near the Ochadamu Junction in Ofu Local Government Area. Ibrahim and three of his security aides were seriously injured. It was learnt that the former governor was returning from the second marriage of the Commissioner for Budget and Planning, Aliu Aju, where he was the father of the day at Idrisu in Omala Local Government Area. An eyewitness said Ibrahim was driven in a Prado Sport Utility Vehicle (SUV), adding that the driver was on a high speed when the front wheel fell off. The vehicle reportedly rammed into a stationary car while the Hilux van conveying his security aides crashed into it. All the occupants of the vehicles were said to have been injured. Ibrahim was reportedly

Gunmen abduct Adamawa lawmaker

GROUP of gunmen has kidnapped the member representing Toungo Constituency in the Adamawa State House of Assembly, Alhaji Adamu Usman. The lawmaker’s abductors reportedly stormed his home at Kofare Ward of Yola, the state capital, at midnight on Friday. Police spokesman Othman Abubakar, a Deputy Superintendent of Police (DSP), said the lawmaker was taken away at gunpoint. He said the police were investigating the incident. The News Agency of Nigeria (NAN) reports that Usman is one of the two members of Adamawa State House of Assembly who won their re-election for a second term after defecting from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC) in the last general elections. The incident brings to three the number of kidnappings recorded in the state within six months.

•Three aides also From James Azania, Lokoja

taken to a hospital in Lokoja, the state capital, while the three security aides were rushed to a hospital at Ochadamu. The eyewitness added that the two vehicles, which somersaulted severally, were badly damaged. The Kogi State Sector Command of the Federal Roads Safety Corps (FRSC) could not be reached to confirm the accident.

•From left: Executive Secretary, Tertiary Education Trust Fund (TETFund), Prof. Suleiman Bogoro; Justice of High Court 9, Bauchi, Justice Yelim Suleiman; former Head of State, Gen. Yakubu Gowon and Vice Chancellor, National Open University of Nigeria (NOUN), Prof. Vincent Tenebe, at the inauguration of NOUN in Bogoro lga of Bauchi State…at the weekend PHOTO: NAN

Buhari, Atiku mourn Borno Senator Zanna

RESIDENT-elect Muhammadu Buhari and former Vice President Atiku Abubakar have said the late Senator Ahmed Zanna from Borno State was a remarkable rights activist who frequently defended the oppressed. The late senator, who defected from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC), died on Saturday at his home in Abuja. He was 60. In separate condolence messages, both leaders said the late Zanna was one of the greatest grassroots politicians. A message last night in Abuja by his media team, Gen. Buhari said he was marvelled by the late Zanna’s tenacity in defence of his opinions on issues affecting the interest of Borno State. According to Buhari, the late Zanna was an “extraordinarily courageous politician who constantly stood by his convictions”. The President-elect noted that the late Zanna was not a typically selfish politician who put his interest before his people’s. Buhari said the deceased would always be remembered for his rare virtues, adding that other leaders should emulate his selflessness. He condoled with the family of the late senator, the government and the people of Borno State on Zanna’s death. In a statement by his media office in Abuja, Atiku said he was amazed by the late senator’s zeal and sincerity

•President-elect: he defended the oppressed •His death is painful, says Shettima •APC, Akume, Abe condole with senator’s family From Tony Akowe, Abuja and Duku Joel, Maiduguri

with which he represented his people in the National Assembly. The former Vice President, who recalled his closeness with the deceased, said even Zanna’s worst enemies would not deny the passion with which he had served his people. The Borno State Government and the State Central Senatorial District mourned the senator. Governor Kashim Shettima mourned Zanna, who was re-elected on the platform of the APC in the March 28 National Assembly elections. In a statement by his Special Adviser on Media, Isa Gusau, the governor described Zanna’s death as a painful exit. The statement reads: “Every true son and daughter of Borno, and indeed the Northeast sub-region, must have taken note of the fearlessness, passion and consistency displayed by the late Senator Zanna in defence of the masses in the wake of repeated attacks by Boko Haram insurgents. “The late senator defied fears and consistently pushed authorities into rising up to their obligations to protect life and property of Nigerians. At every point there were attacks or potential threats to communities, Senator Zanna was always the first to come public, demanding the rights

of the masses to security of their lives and freedom. He regularly stood for the masses without compromising for one second. “He was stiff and firm in his convictions that were generally about fighting for the protection of lives. His consistency must have played a key role in accelerating counter-insurgency operations in Borno State and the Northeast. The late senator’s home on Damboa Road in Maiduguri has been permanently accessible to any resident of Borno State who sought relief from him after fleeing from attacks. “He provided everything within his means to make life easy for thousands of citizens. He even encouraged many into getting involved in different forms of craftsmanship, producing marketable products as self-employed citizens while taking refuge with him. “Indeed, the late senator was one of those who aggressively but silently complemented the giant efforts of the Borno State Government and its local government authorities in supporting those affected by the brutality of insurgents...” The All Progressives Congress (APC) yesterday condoled with the family of the late senator. In a statement in Lagos by its National Publicity Secretary, Alhaji Lai Mohammed, the party described the death of the APC senator

as a huge loss, not just to his family and the people of Borno but also to the Senate and Nigeria. The party prayed God to strengthen the family to bear the irreparable loss and comfort its members as they try to come to terms with the reality of his death. APC described the Senator Zanna as a committed parliamentarian who cared about the welfare of his constituents and took his legislative duties very seriously. The statement added: “While we are indeed in a state of shock and sadness over his untimely demise, we are comforted by the bold footprints left behind by Senator Zanna, and we pray that God will take him into his bosom.” Senate Minority Leader George Akume said he was shocked at hearing about Zanna’s death. In a statement yesterday, Akume said: “I received with shock the news of the death of Senator Zanna... “Zanna, who was elected into the Senate in 2011 to represent Borno Central, was a vibrant and patriotic member of the Upper Chamber until his untimely death. He contributed actively and articulately to all issues, particularly to those concerning the welfare of his constituents. “His debates, even as a member of the Peoples Democratic Party (PDP), were well informed. He did not shy away from criticising his par-

ty when it went wrong, as it often did. When eventually he could not stand the party on which he was elected, he defected to the APC, where he met his progressive-minded comrades. We benefited immensely from his unusual insights into issues facing the nation and we were particularly proud that he expressed his views on such issues with courage, conviction and without fear or favour. “Zanna will be missed by all in the Senate. I, on behalf of all APC senators, pray that Almighty God grant him eternal rest and give his family the fortitude to bear this great loss.” Also, Senator Magnus Abe, representing Rivers Southeast, described Zanna’s death as shocking and painful. Abe noted that with Zanna’s death at the National Hospital in Abuja, Nigeria has lost a vibrant, dogged and resilient lawmaker whose tenacity was exemplary. The late Zanna was Vice Chairman of the Senate Committee on Gas and Member and Senate Committee on Navy. Abe noted that the late senator’s ingenious contributions to legislative business and issues of national development would be greatly missed. In a condolence message by his media aide, Honour Sirawoo, the senator said: “Zanna was an advocate of a united Nigeria. He was passionate about a lasting solution to the problem of insurgency in the Northeast; he was committed to a prosperous nation as propounded by our change vehicle, the APC.”

THE NATION MONDAY, MAY 18, 2015

NEWS

Strike: Judicial workers fault Oshiomhole

HE Judiciary Staff Union of Nigeria (JUSUN) has rebuked Edo State Governor Adams Oshiomhole for calling the strike by judicial workers illegal. National President of JUSUN Marwan Mustapha, at the end of the National Executive Council meeting, said Oshiomhole could not decide which judgment to obey. He added that the governor had not appealed the judgment on financial autonomy hence, it remains binding on him. Oshiomhole was quoted as saying that his administra-

From Tony Akowe, Abuja

tion would not yield to blackmail by workers. Oshiomhole said: “It is important for the people to appreciate that a cleaner in the office of the chief judge earns better than the cleaner in the office of the governor of Edo State. A cleaner in the office of a judge earns better than a cleaner in a commissioner’s office. “Administrative officers in the judiciary earn better than administrative workers in the civil service. “So, I believe we have done

something to show the conviction of the very peculiar job of the judiciary, though there can be no justification for treating medical workers of the same qualification differently; but they benefit by reason of the arm of government they work for. “It hurts therefore that having benefited, and having continued to benefit from a superior compensation system relative to the rest of the civil service, they have chosen to down tools on the basis of issues that are considered completely external to them. “I think management of fi-

nances between the three arms of government is a matter that is better left for the heads of the three arms - the governor, the speaker and the chief judge. Between us we can discuss, as we have always done, on how to deal with matters affecting the arms. “We cannot surrender the authority of the state to employees who have chosen to use union actions to canvass non-union issues. As a union man, I know what the limits are and I will not concede to encroachment beyond those legal limits. The Union, however, be-

lieves that the governor should appeal the judgment, adding that since he didn’t do that, the court order is binding on him. Marwan said Oshiomhole is not a court and so cannot suspend a strike he didn’t call. “The NEC agreed that since it is the same court that gave verdict on the autonomy of Judiciary, the union should go back to that same court to demand for an order to garnishee the account of debtor states. And once such “absolute order” is obtained, the union can then suspend strike in those affected states.

“Even those states that signed an MoU with the union are playing pranks and we will approach the same for the garnishee of their account,” adding that a temporary order had been given by the Federal High Court, Abuja pending June 1, when the court will decide whether or not to grant an “absolute order” to garnishee the accounts of Benue and Plateau states. JUSU embarked on a strike demanding financial autonomy for the judiciary. The nine states still on strike are: Edo, Nasarawa, Plateau, Osun, Enugu, Cross Rivers, Ondo, Ekiti, Adamawa and Taraba.

Nurse interdicted for injecting Jonathan’s supporter with unprescribed drugs •Pro-Chancellor Ebonyi State University, Dr. Alex Ekwueme (left) with Prof. Chiweyite Ejike when Ekwueme was awarded Honorary Doctor of Science by the Ebonyi State University ...yesterday

From Chris Oji, Enugu

Nwobodo faults court’s judgment over property

ORMER Anambra State Governor Jim Nwobodo has faulted the judgment of a Federal High Court in Abuja, ordering him to vacate his rented apartment in Maitama. He said the court erred in law. Nwobodo’s counsel, Mr. Amobi Nzelu said his client had been residing in the property at 24 Ona Crescent, Plot 768 Cadastral Zone A5, Maitama Abuja for a long time. He wondered why the respondent decided to release the judgment to the press after two months but did not inform the media that he had gone to appeal against the judgment. The respondent, Adin Miles International Limited, was said to have bought the property from Alhaji Al-Mustapha Abubakar in 2008, who had earlier leased the property to Nwobodo. “It is not about non-payment of rent as was wrongly reported in the media. My client was ready to pay rent. He was negotiating for an outright sale. The man that bought this

From Gbenga Omokhunu, Abuja

property is a fellow Igbo man and knew that my client was occupying this house and that he was his former governor. “Despite knowing these facts, he still went behind and bought the property, and then told his lawyer not to disclose his identify to my client. That was what happened. A Yoruba man will not do this to his brother; a Hausa man won’t do this to his brother. “My client had an agreement with the person that sold the house. We do not have any business with the new buyer. I have raised the issue in court, but the judge closed his eyes on these issues,” Nzelu said. In an appeal filed at the Abuja Division of the Court of Appeal, Nwobodo asked the appellate court to set aside the lower court’s judgment of March 25 by Justice Suleiman Belgore, in favour of the respondent, Adin Miles International Limited.

He said: “The learned trial Judge erred in law when he failed to appreciate the fact that for title to vest in any person who purchases a property in Abuja, the consent of the FCT minister must be sought and obtained, this failure occasioned miscarriage of justice. “The learned trial Judge erred in law when he entered judgment in favour of the respondent without neither the deed of sale nor deed and of assignment, or power of attorney, this occasioned miscarriage of justice.” “The Judge erred when he assumed jurisdiction to hear and determine the case in the absence of valid documents that will vest/clothe the court with jurisdiction. “We have been in possession of this property for a long time and the owner made an offer to sell it. He now went behind and picked up this property. My client went and discussed with this man, even adding N30 million to what the

man originally paid to acquire it. When we took over this property, it was in a bad shape. “We went to court and the judgment was to come up in January this year, but it was deferred till March 25 because of the judiciary workers’ strike. The man that went is not the original owner of this property. “There was no breach of agreement between my client and him and they are not my client’s landlord. There is no deed of sale on this property before they went to court. There is no agreement between my client and the man that went to court.” According to Nwobodo, six days after the judgment, specifically on March 31, he appealed, adding that the respondent was served the processes and motion for stay of execution, for which his counsel responded. He therefore prayed for “an order of this court allowing this appeal and an order of this court setting aside the judgment of the trial court delivered on March 25”.

‘Independent judiciary will end corruption’

HE fight against corruption will not succeed unless the judiciary is truly independent, the International Coordinator, Ekiti Global Project based in Baltimore, United States, Adegboyega Omoeyeluajire Dahunsi, has said. According to him, where the judiciary remains tied to the executive’s apron strings, it will be difficult for it to function without interference. “Erasing corruption will not be effective unless our judiciary is independent,” Adegboyega said. Besides, he wants an end to endless interlocutory appeals and unnecessary injunctions, all of which hamper smooth criminal justice administration. “I think all laws regarding it should be changed and the

By Precious Igbonwelundu

people will know the deep negative effects of corruption in our society,” he added. Adegboyega said Nigerians cannot wait to see a reduction in corruption, as well as improvements in security, job creation, power and a revival of ailing and dead industries. To him, addressing corruption, which he said is the root cause of most of Nigeria’s problems, will put the country on the path of greatness. He said the general elections showed that Nigerians believe in democracy and can choose their leaders through a process that is free and fair. The legal luminary praised the Independent National Electoral Commission (INEC) for the successful polls and advised that the Perma-

nent Voter Cards (PVCs) should serve as National Identity Card to save resources. Adegboyega believes the Peoples Democratic Party (PDP) may not provide credible opposition, saying another party would likely emerge as a credible opposition to the All Progressives Congress (APC) administration. “PDP is dead; nothing can revamp it. As a democrat I like

good opposition for good government and checks and balances. The next opposition party will not be PDP but another party,” he said. He called for a reduction in the number of ministers, advisers, special assistants and aides to be appointed at the federal level, adding that “our legislature is too big for what we need”.

HE Federal Neuropsychiatry Hospital, Enugu has placed a male nurse, Alozie Ejimadu on three months interdiction for allegedly injecting a patient and supporter of President Goodluck Jonathan with unprescribed drugs during the March 28 election. Two other workers, Ozurumba Anthony and Ihezue Ejike were also interdicted for different offences. Ozurumba was accused of participating in one year National Youth Service Corps (NYSC) programme without permission, and against civil service rule, earned full salary throughout the service year while working full time. Ejimadu had reportedly boasted on his facebook wall that the patient would sleep till the result was announced. The post reads: “The announcement of the presidential election has reached a crescendo, a patient cried, saying she is unhappy because Jona lost. I didn’t hesitate to silence her with injection paraldehyde 10ml stat; chlorpromazine 150mg and IV diazepam 20mg stat. “This will keep her sleeping till tomorrow when the final result is announced. Anybody who dare thinks like my patient will certainly receive a double dose (ARA GBAKA KWA NDI ARA AHU- those mad people should get mad the more)”. It was gathered that a non-governmental organisation, Centre for the Right of Psychiatric Patient, irked by the post, petitioned the board chairman of the hospital. “Mr. Alozie’s activity is unbecoming of a psychiatric nurse. We demand the hospital to remove him from the clinical area; suspend him to identify the patient and assess possible damage,” the petition read. It was gathered that following petition, the head of clinical services, in a letter dated May 7, sent Ejimadu packing. The letter, signed by Dr. Iteke O.C read: “I am directed by the Medical Director to interdict you for three months on halfsalary starting April 2015. “You should stay away from clinical duties pending investigation by the Nursing Council of Nigeria on your internet posting of March 30 where you claimed to have silenced a patient with diazepam, paraldehyde and chlorpromazine”.

Vehicle owners get ultimatum

HE Lagos State Police Command, have warned the owners of Honda Accord 90 unregistered and Golf 3 marked LND 619 DD parked at Ijanikin Division to remove them within 14 days of this publication or lose them to members of the public. Also, the Ogun State Police Command, have warned the owners of accidented and abandoned vehicles and motorcycles parked at Ogbere/Redeemed/Odogbolu Divisions to remove them within 21 days of this publication or lose them to members of the public. They are: (Ogbere): Urvan bus marked XL 152 USL, Opel Astra car BT 236 EPE, Opel Astra car AE 725 ABG, Ford Galaxy car KRV 523 XA, Mercedes Benz Truck BDG 118 XC, Toyota Hiace bus unregistered, Mazda car FX 921 EKY. Motorcycles - Bajaj QM 598 FKY, Suzuki unregistered, Four (4) Jincheng unregistered; Red jincheng QW 721 FST, Qlink unregistered, Jincheng OG 116. Redeemed: Mercedes Benz 200 BU 273 KJA, Mercedes Benz V/ Boot AL 854 SGM, Mitsubishi Saloon car unregistered, Passat Saloon car AU 958 JJJ, Lt Bus V/Wagon bus XE 242 SSM, Eight (8) Jincheng unregistered, Bajaj unregistered, Zusuki Hajoue unregistered, Bajaj FKJ 359 QB. Odogbolu: Honda Accord LSD 457 AW, Toyota Pickup RSH 228 XB, Mercedes Benz lorry EKY 560 XB, Honda Odyzzey car AGL 546 BB, Golf 2 car BX 460 MUS, Mercedes Benz car EK 107 APP, Fiat Pick-up AAA 208 XB, Mazda car KRD 129 BR, Iveco Lorry JJJ 705 XA, Mercury AKD 619 BK, Mitsubishi Jeep 602 LSD, Passat BZ 243 AGL, Two (2) Jincheng unregistered, Three (3) Bajaj Boxer unregistered, TEC motorcycle unregistered, Qlink Ogun 8142 FST, Bajaj QJ 759 FST, Bajaj Boxer QL 742 FKY, Bajaj Boxer KM 147 LS and Jincheng OG 0604 ZE.

Lawmaker-elect tasks CCII new exco

HE lawmaker elect for Egbeda/Ona-Ara federal constituency, Engr. Taiwo Michael Akintola has congratulated the new executives of Central Council of Ibadan Indigenes (CCII), urging them to work towards the development of Ibadan. In a statement yesterday,

From Tayo Johnson, Ibadan

Akintola described the new CCII president, Chief Wole Akinwande and his team as a people of integrity who will build on the achievements of their predecessor. He praised the former executives, led by Chief Bayo

Oyero for their contributions to the development of Ibadan, the home of warriors and valiant men and women. “As the apex body of all the socio-cultural organisations in Ibadanland, the CCII belongs to all sons and daughters of Ibadan land, irrespective of

political party, persuasion or affiliation. Its central objective is the development of the ancient city and like in no other years before, I want the group to bring together sons and daughters of Ibadan and must find more ways to develop the land.

THE NATION MONDAY, MAY 18, 2015

NEWS Ijaw youths back President to relocate oil project

Oil theft: Navy arrests 30 ships in six months

HE Navy’s Eastern Command (ENC) has arrested in the last six months over 30 ships under its operating bases in Calabar, Ibaka, Oron, Bonny, Ikot Abasi and Port Harcourt in Akwa Ibom, Rivers and Cross River states. Flag Officer Commanding (FOC) Rear Admiral Henry Babalola said the ships were arrested for conveying adulterated crude oil and other stolen products on the waterways. Babalola spoke at the weekend at a dinner marking the end of the bi-annual

From Nicholas Kalu, Calabar

sea patrol between May 12 and 14. The flag officer said the arrest was possible because of the Navy’s patrol on the waterways. He said: “In the last six months, I think we have arrested well over 30 ships and boats. Our men have been on steady patrols. We have destroyed several illegal refineries in our operating base. “When we arrest a ship, we go further to investigate its patrons and hand them over to the relevant government agencies, such as the

Nigeria Security and Civil Defence Corps (NSCDC), among others.” Rear Admiral Babalola said sea inspection was a routine of the Navy to secure the nation’s economic assets and other multi-million dollar offshore investments and platforms. He said: “The importance of this exercise is that we maintain a constant presence in our maritime environment to give confidence to legal and useful users of the sector. “Our presence on the seas is enough security for mar-

itime operators. The exercise also helps us to know the status of our ships and machinery breakdown. “During the exercise, we encountered some vessels: we stopped them, interrogated them and found out that some of them had their valid maritime papers.” According to him, reports from the oil industry showed that there has been a reduction in crude oil theft. Rear Admiral Babalola assured legal maritime operators of tight security, adding that the Navy would not relent in patrolling the waterways.

My wife is not a beauty model, says Oshiomhole DO State Governor Adams Oshiomhole has said his wife, Iara, is not a beauty model but a model in his heart. The governor said his new wife is not a replacement for his late wife, Clara, who he described as irreplaceable. At a thanksgiving yesterday at the Immaculate Conception Cathedral, Auchi, he debunked reports that his wife is a “top model”. Oshiomhole said the speculation might have been generated from her poise and beauty. He said: “When I read newspaper stories and they say that Comrade has married a ‘top model’, I’m like maybe it’s another person. “The lady that God has directed to my path and heart to marry is not and was not a model. Of course, she looks beautiful and I understand that that is why people assume that this kind of a lady must be a model. But, of course, she is a model in my heart. “We hope and pray that we will be models in the heart of our God and I think that is the most important thing.” The governor urged the congregation to keep supporting him and his wife in prayer. He said: “I ask you to please continue to pray for us. It is not easy. I lost my first wife and it is not possible to replace her. Yes, I have married another but it is not a replacement. You cannot replace a wife, especially one you married when you were young and anonymous. Nobody knew

tional Watch, Ahams Njoku, has said the judgment of a Federal High Court, sitting in Benin, the Edo State capital, which slammed a N3 million fine on Michael Igbinedion for the breach of the Money Laundering Act, is “not only fair but in accordance with the law”. In a statement at the weekend, the Lagos lawyer said: “The judgment of the court, presided over by Justice Abubakar Liman, appears to have generated some concerns from the public, especially those who are not lawyers. They seem to be at a loss why the money that was said to be laundered

that with a court injunction or without a court injunction, we would not allow materials to be fabricated in Lagos and used to build oil platform in the Niger Delta region. “Niger Delta residents have been taken for granted for too long and we would no longer accept it. This is not only in line with the requirement of the local content law but is also makes so much economic sense,” the statement said. IYC said Lagos is usually congested, adding that there is need to move some cargoes, especially oil and gas materials, to ports in the Niger Delta where the oil facilities are located.

stood above the fine to be paid by Mr. Igbinedion. “The first thing to note is that the offence appears to be a strict liability one. “Mr. Igbinedion was said to have accepted cash payments N10,309,000 and N21,000,000, contrary to the Money Laundering Act (Section 15(1) 2004), which provides that: ‘No person or body corporate shall, except in a transaction through a financial institution, make or accept cash payment of a sum exceeding - (a) N500,000 or its equivalent, in the case of an individual’. “So, even if the convicted person used the money judiciously, he is still liable.”

I’m not lobbying to retain amnesty job, says Kuku

• Oshiomhole and Iara, carrying the bread and wine for the Holy Communion at the thanksgiving mass at the Immaculate Conception Cathedral, Auchi...yesterday

you from anywhere; you had nothing, no car, no house. But now, ...I understand that under the Catholic doctrine, I am entitled to have another wife,

which is what I am trying to do. “Thank you for your prayers, support and blessings that you have always showered on me and the one you conveyed this morning

on me and my new wife. We ask for more and more prayers that this marriage will be my last and that God will help us to unite us and bond us together with the blood of Jesus.”

Anger in Jonathan’s local govt over defecting lawmakers

From Mike Odiegwu, Yenagoa

Igbinedion: ‘Judgment in line HE Executive Diwith the law’ rector of Constitu-

EADERS of the Peoples Democratic Party (PDP) in Ogbia, President Goodluck Jonathan’s Local Government Area of Bayelsa State, are angry, following the defection of their lawmakers from the ruling Peoples Democratic Party (PDP) to the All Progressives Congress (APC). The defectors are: Clever Ikisikpo, Nado Karibo and Azibola Omekwe, repre-

JAW youths yesterday backed President Goodluck Jonathan’s directive that the fabrication and integration yards for the $500 million Engina Floating Production Storage and Offloading (FPSO) in Lagos should be relocated to Bayelsa State. In a statement by their spokesperson, Eric Omare, the Ijaw Youth Council (IYC) said the directive was in line with the local content law. Though a Federal High Court sitting in Lagos gave an interim order stopping the relocation, the youths said they also supported the directive that oil and gas cargoes should be moved to the ports in Warri (Delta State), Calabar (Cross River) and Onne (Rivers). “We want to make it clear

From Mike Odiegwu, Yenagoa

senting the President’s area in the Senate, House of Representatives and House of Assembly. It was gathered that the former Chairman of Ogbia Local Government Area, Innocent Kaku, has joined the list of defectors. Rising from an emergency meeting at the weekend, the power brokers in Ogbia and Jonathan’s associates

regretted the exit of their kinsmen to APC. The Ogbia PDP leaders believed that their lawmakers abandoned Jonathan and the PDP because they lost the party’s tickets in the last general elections. The PDP leaders expressed their displeasure in a communique by the State PDP Treasurer, Gbalipre Turner; the PDP Chairman in Ogbia Local Government Area, Budget Isaiah; the PDP Secretary in the local

government area, Kowele Aigbuasi; State Women Leader Mrs. Faith Opuene and Assistant Organising Secretary Joseph Ogbu. The communique reads: “They (defectors) see themselves as the best and only existing politicians in Ogbia Kingdom, who should always remain in power and so could not come to terms with the reality when the people they represent opted for better choices of candidates.”

HAIRMAN of the Presidential Amnesty Programme Kingsley Kuku has denied lobbying to retain his job under the incoming administration of President-elect Muhammadu Buhari. Kuku, who is also President Goodluck Jonathan’s Special Adviser on Niger Delta, said the report of his lobbying is “speculative and highly provocative”. In a statement yesterday, he said: “As a Special Adviser and Chairman of the Presidential Amnesty Programme, I served this country for four years and four months under President Jonathan. If it was an elected four-year term, the four months would have been a bonus. “I’m, however, proud of

my achievements and for lifting the Amnesty programme beyond what I met on ground. I’m leaving this office 200 per cent better than what I inherited. I, therefore, challenge my successor to better my record.” Kuku denied meeting former Bayelsa State Governor Timipre Sylva or a former Head of Service of the Federation, Alhaji Yayale Ahmed, to lobby for him. He said: “On May 29, I will leave with President Jonathan. I will continue to focus on my peace and conflict resolution assignments, which this job has placed on my shoulders. I remain undeterred by those embarking on this smear campaign against my person in order to discredit the work we have done for this country...”

UNICEM spends N9b on 20km road

HE United Cement Company of Nigeria (UNICEM) in Cross River State has said the 20kilometre road to evacuate products from their plant in Mfamosing, Akamkpa Local Government Area, without going through Calabar, the state capital, will cost N9 billion. UNICEM’s Managing Director Olivier Lenoir spoke at the weekend during the media tour of second line (Line II) of the plant and the evacuation road. The UNICEM chief said the road was 70 per cent completed.

From Nicholas Kalu, Calabar

Lenoir said the project, which began in September 2010, was to cost N5 billion. The company chief cited variation in the cost of the project to include the construction of two bridges, 88 culverts, the use of concrete and filling of swamps to give the 7.3 metre span road a solid base. According to him, the road will enhance the company’s conveyance of cement products from its plant at Mfamosing to other parts of the state and beyond.

THE NATION MONDAY, MAY 18, 2015

NEWS U.S. advises Buhari on choice of petroleum minister

HE United States (U.S.) has urged the President-elect, Muhammadu Buhari, to look out for an experienced hand for as petroleum minister. It has expressed concern about the manner top government officials have managed the oil and gas sector, citing several acts that bothered on corruption. A top diplomatic source said the U.S. “is now eager to turn the situation around, as it has always considered Nigeria an important ally on the African continent”. Several high placed persons and multinational companies, who attended a U.S. State Department briefing, cited corruption as the main reason for low investment in Nigeria’s oil sector. It is understood that the U.S. is backing a senior official of a multi-national oil company from Delta State, who is conversant with transparency rules to emerge as the Petroleum Minister. The source said: “In fact, the multinationals have discussed with the U.S. State Department and have already agreed on a credible candidate, who, they believe, will be able to restore confidence and attract the necessary investment into the critical sector.” Reliable sources added that the U.S. has already made this position known to the President. “The U.S. has cautioned the president-elect over making a wrong choice and has advised him to focus on somebody, whose pedigree is top notch and who apart from having the requisite experience in the sector, has had no conflict of interest issues and has not been in the political terrain. “The U.S. authorities will like the President-elect to focus on someone from a major oil company and commanding a pedigree and influence level that will give them confidence to pull back fleeing investments,” a diplomatic source said at the weekend. Only this , our sources added, will convince the international community that it is not going to be business as usual in Nigeria. Top brass in the oil and gas industry have indicated their support for the proposed candidate, who they believe will bring his vast experience to bear in the turnaround of the ministry and give credibility to the sector and to Buhari’s “change philosophy”.

Dickson kicks as NGF plans election of new exco

HE Nigerians Governors’ Forum (NGF) may elect a new executive today in Abuja. The NGF has been bitterly divided after the elections won by Rivers State Governor Chibuike Amaechi but opposed by a faction led by Plateau State Governor Jonah Jang, who is also claiming victory. Outgoing President Goodluck Jonathan is believed to be behind the split because he did not want Amaechi to lead the body. Director-General of a faction of the NGF Ashishana Okauru, who said the meeting would hold, confirmed the likelihood of the election of an new executive “We would also try to explore the possibility of getting new leaders,” he said. Governors-elect will not participate, he added. But, Bayelsa State Governor Seriake Dickson is opposed to the meeting, saying the NGF should remain in abeyance as it has been since May last year to enable the incoming governors to participate in its activities. In an advertorial entitled: “Nigeria Governors’ Forum: my take”, Dickson said: “What is the hurry in summoning a moribund and divided NGF under its multiple leadership, especially in the dying days of its actors whose clash of egos and ambitions brought about the crisis in the NGF in the first place?”

Amaechi: Peterside’ll be governor

IVERS STATE All Progressives Congress (APC) governorship candidate Dr. Dakuku Peterside will be governor, outgoing Governor Rotimi Amaechi said yesterday. He spoke at the Dr. Obi Wali International Conference Centre in Port Harcourt, where Peterside’s campaign organisation, Greater Tomorrow Campaign Organisation (GTCO) held a thanksgiving service to celebrate “God’s faithfulness throughout the electioneering period”. Amaechi accused Inspector-General of Police (IGP) Solomon Arase of promoting policemen who assisted the leaders of the Peoples Democratic Party (PDP) to rig the March 28 and April 11 elections. Besides Amaechi and Peterside, the well-attended service, also had in attendance the Rivers governor’s wife, Judith; Peterside’s wife, Elima, a lawyer; his running mate, Asita Honourable and his wife, Patricia; as well as the Director-General of GTCO, Chief Victor Tombari Giadom, and other eminent personalities. Peterside, in company with Asita, during testimony and thanksgiving, gave details of the killings and violence in Rivers State before, during and after the elections. The APC’s governorship candidate declared that even with the stealing of votes by the leaders of the PDP in Rivers State, they could not write the results for themselves, noting that the challenges would not be greater than God, saying: “I am 100 per cent certain that we will come out victorious.” The General Overseer of Gateway International Church, Port Harcourt, Rev. George Izunwa, who preached on the occasion, said before the end of this year, Peterside and his friends would gather for another thanksgiving service for victory. Amaechi said: “God will bless all of you, for standing by us. On May 27, I will be 50. I never believed that I would be 50. Having got to 50, I must thank God. “There is a man called John Amadi, the then Deputy Commissioner of Police (in Rivers State, during the 2015 general elections), who sat down and wrote a programme that embarrassed the APC and the incoming Federal Government, even after Gen. Buhari had won the presidential election. “To embarrass us further, I hear he has been promoted to Commissioner of Police and transferred out of Port Harcourt. He will come back. The only way he will not come back is if we do not form government, but if we form government, he will account for his actions. “An Assistant Commissioner of Police in Khana LGA (of Rivers State) said it was mutiny to take on the Federal Government. He sat down and fought APC, as if he was a PDP member. I do not know whether he has been promoted or not, but if he has been promoted and sent away, he will also come back. That one does not require a judge. IGP (Solomon Arase) can promote them as much as he wants. He can promote them to Assistant Inspector-General of Police

From Bisi Olaniyi, Port Harcourt

(AIG), but they must all account for their actions. “John Amadi intended to kill me. On my way to my village (Ubima in Ikwerre LGA) to go and vote, I ran into some criminals, who were attacking an APC member and I stopped with the intention to rescue the gentleman and arrest the people, as the governor. I did not know that they had given instruction to my own security men not to obey me. So, when I told the policemen to arrest them, they were just standing. On further inquiry, I was told that they were told not to go near where they were voting. When I asked the C for I (special police security team) to reinforce and they brought security, John Amadi called them back and asked them to leave there. “The only thing that saved me and saved the situation was that the Brigade Commander (Brig. Gen. Koko Essien of 2 Brigade, Bori Camp, Nigerian Army, Port Harcourt) sent in soldiers and the soldiers chased the people away. The people were speaking my language (Ikwerre) and saying somebody will die here now. Who was the somebody, other than me? My police and SSS (State Security Service) men were watching and my life was at risk. I am supposed to be the governor of Rivers State, the so-called Chief Security Officer.” Amaechi expressed surprise at his discoveries in Port Harcourt and other parts of Rivers State before the April 11 governorship and House of Assembly elections. The Rivers governor said: “Nyesom Wike (Rivers’ governor-elect) said I came to the front of his house. I was driving. I had been called that night that they changed the result sheets at Rumueme. I drove down to the place, called the Commissioner of Police (Hosea Karma) to meet me there. Before he could come, I asked him how far he was. Imagine Hosea Karma, that served all his life in Rivers State, telling me he could not find his way to Rumueme at 3 a.m. I told him that while he was looking for his way to Rumueme, I was driving to Rumuokwuta (Port Harcourt) and saw over 70 policemen on the road and they stopped me in front of Nyesom Wike’s father’s house. I asked what they were doing there, they said they were there with DCP John Amadi, right inside the house and I called the Commissioner of Police that I was waiting for him in front of Nyesom Wike’s father’s house, for him to come and bring out John Amadi from the house. It took Karma over 30 minutes to meet me there. “By the time he (Karma) came, the policemen had all run away and very few were in front of the house about 3 a.m. John Amadi and others were planning what they would do the next day. When we got inside, one of the persons said he was an INEC officer. Agents of all other political parties were not present. I left. The next morning, before I came, they had given all the result sheets to PDP. The Division-

al Police Officer (DPO) of Kala Police Station, an Akwa Ibom woman, joined in the rigging. Write down the names of all the DPOs in your area, they will account for it. The only way the system can be corrected is for the police commission to discipline those who have broken the law. They must account for their actions. “If an ordinary DCP (John Amadi) could do what he did in Rivers State and he is promoted to CP, the IGP is daring the new Federal Government. “OC MOPOL arrested people who were thumb-printing near Nyesom Wike’s house. On his way to the police station, John Amadi drove and stopeed him on the way, took the people and took the result sheets straight to INEC’s office. Get ready with your petitions. When the new government comes, send your petitions to them to investigate, because this nonsense cannot continue. Nobody has the right to do what they did. Here (in Rivers State), we were fighting with INEC, police, the Nigerian Army and the militants. “The President-elect is a man of rule of law. He will not punish anybody without due process. Act officially as a party and as individuals, for proper investigations of what happened in Rivers State. Let us ask the incoming Federal Government to properly investigate what happened in Rivers State. “There is a Colonel in Degema-Kalabari (headquarters of Degema LGA of Rivers State). He covered Degema and Abonnema (headquarters of Akuku-Toru LGA of Rivers State). His name is Adimorah or something like that. I hear he has been transferred to Lagos. We shall also demand his investigation by the Nigerian Army, because what they did to us was to participate in the elections, as if we were members of PDP and our crime was challenging PDP.” Amaechi urged the APC supporters not to relent in their determination to ensure justice. The Rivers governor said: “We are in court. If you know my history, you will know that this is not the first time that this thing has happened. When I was to be Speaker (of the Rivers State House of Assembly in 1999), a similar thing happened. We prayed and fasted and we asked God to make me Speaker and I became Speaker. You remember how I became governor. Similar thing happened. We prayed and fasted and God made me governor. This is another trial time. You have the choice to pray or not to pray. This is the time to call God. Without God, we are going nowhere. “When I said I fasted for ten months (in 2007), people do not believe it. Peterside is even lucky that if he is going to fast, he is going to fast here (in Rivers State). I was chased out of Nigeria. It was also good for me, because it gave me enough time to pray and fast. If you are in Nigeria, you will have distractions. A lot of distractions from your wife, children, friends and church. When I was in Ghana, my wife and children were not there. It was lonely, but it gave me time to pray to God and God an-

National Assembly: Ita-Giwa seeks independent legislature

ORMER Presidential Adviser on National Assembly Matters Senator Florence Ita-Giwa yesterday urged the 8th National Assembly to be independentminded in their choice of leadership. The former lawmaker, who served two former Presidents as liaison officer between the Executive and the legislators, in a statement in Abuja, underscored the need for cordiality between the legislators, its leadership and presidency to strengthen democracy and the rule of law. She insisted that irrespective of the different political leanings of the lawmakers, they should ensure that they work together as an entity with-

From Sanni Onogu, Abuja

out undermining the dignity of the institution. She added that the 8th National Assembly has to hit the ground running and do the right thing and avoid distractions and unnecessary altercations with the executive arm in other to legislate excellently for the nation. The statement reads in parts:”I urge the 8th National Assembly that will be inaugurated in June to be independent minded. They should put the nation first ahead of their personal interests. “This should be reflected in their

choice of leadership. The upper and lower house are symbols of pride and dignity. Nigerians look forward to them to make people oriented laws and to partner seamlessly with the executive arm of government. “Inasmuch as they are under obligation to provide check and balances and carry out other functions, there should be cordial relationship between them. “This is necessary for our democracy to thrive. I advise that in all they do, they should dignify the hallowed chambers and promote peaceful atmosphere irrespective of their political differences.”

•Amaechi

swered our prayers. I will join in the fasting, but I am not the candidate. “God answered our prayers that Gen. Buhari is the President-elect of Nigeria. Imagine if Gen. Buhari did not win. They were already preparing to send us away. They had left instructions at the airports not to let me travel, hoping that we would lose the presidential election. They had seized my red passport, which they gave to me only two weeks ago, signed on April 28. They did not know we would win the election. God answered our prayers to save us and save Nigeria. I am not joking, we have no money anywhere.

AIB to release four air accident reports By Kelvin Osa Okunbor

ARRING any last minute change, the Accident Investigation Bureau (AIB) is set to make public reports of investigations of at least four air mishaps that occurred between 2006 and 2010. A source close to the Ministry of Aviation hinted that the air accident reports include those of Odengene Air Shuttle (AOS) helicopter crash in Warri on November 10, 2006; Bristow Helicopter crash of August 3, 2007 and Aero Contractors helicopter accident of August 21, 2010 as well as the accident that involved Wings Aviation Beechcraft 1900D aircraft on March 15, 2008. The accident report, the source said, will be released this week. AIB, the agency of government saddled with the task of investigating air accidents, at different times in the past released interim reports on some of the crashes. The release of the accident report, it was learnt, is part of the handover notes by the Minster of Aviation, Chief Osita Chidoka. A source close to the ministry hinted that the reports will be published on the website of the AIB before May 29, 2015. Aviation experts say release of accident reports are not punitive, but meant for corrective action by the regulatory body, Nigerian Civil Aviation Authority ( NCAA) and airlines. The spokesman for AIB, Mr. Tunji Oketunbi, confirmed that the agency is planning to release some accidents reports. He said:” “It is true that we are planning to release some accident reports. But we are still finalising the arrangements. This is a continuous exercise in AIB. As soon as reports are ready, we will release them in the interest of the flying public.” Recall that AOS Helicopter carrying four people crashed on November 10 , 2006 on the outskirts of Warri in southern Nigeria, killing one person while others were seriously injured. Wings Aviation Beechcraft 1900D with registration marks 5N-JAH was declared missing for over six months before it was later found on August 30, 2008 by hunters at Bushi Village in Obanlinku Local Government Area of Cross River state.

THE NATION MONDAY, May 18, 2015

FOREIGN NEWS Syrian official says situation in Palmyra ‘under control’

SYRIAN official said Sunday that the situation is “fully under control” in Palmyra despite breaches by Islamic State militants who pushed into the historic town a day earlier. Syrian opposition activists also confirmed that militants withdrew from a government building and other areas they had seized Saturday in the northern part of the town as clashes continued.Palmyra is home to one of the most famous UNESCO World Heritage sites in the Middle East, renowned for its Roman-era colonnades and 2,000-year-old ruins. The militants entered from

the north and have not reached the ruins southwest of Palmyra. Islamic State militants have destroyed and looted archaeological sites in Iraq and Syria. The group’s advance on Palmyra has sparked alarm in the region and beyond.Gov. Talal Barazi of Homs province said Syrian troops recaptured two hills from the militants late Saturday. He told The Associated Press that army reinforcements have been sent to shore up existing troops.”Palmyra is safe and the road linking Homs with Palmyra is absolutely safe,” he later told the state-run news agency SANA.

South Africa deports Mozambicans

OUTH AFRICA has deported more than 400 Mozambicans, weeks after anti-foreigner violence in Durban and Johannesburg left several people dead. The move follows a police operation that uncovered hundreds of undocumented migrants. Many unemployed South Africans accuse foreigners of taking their jobs in a country where the unemployment rate is 24%. Mozambique’s government said it was surprised by the deportations. “We expected to hold talks with the South Africans to dis-

cuss the problem, but we just saw people being arrested,” said Foreign Minister Oldemiro Baloi. A wave of xenophobic attacks in April left at least seven people dead, including one Mozambican. Mobs targeted workers from Zimbabwe, Nigeria, Mozambique and other African countries. Correspondents say that although South African authorities condemned the violence, they have also sought to address complaints about foreigners working illegally in the country. Officials have strongly de-

nied that the police operation targeted foreigners. A government statement on Sunday said that more than 3,900 people, including 1,650 illegal immigrants, had been arrested since April’s clashes. “We are satisfied that we have stabilised the situation and further loss of life has been prevented,” the statement said. “Security agencies continue to work around the clock to protect both foreign nationals and South African citizens against any attacks.” Many of the deported Mozambicans have been housed in tents in a transit

centre near the capital Maputo. When violence erupted, Mozambique set up border camps to cope with the exodus of its citizens. Riot police tried to prevent the attacks on foreigners in Johannesburg Jose Macuacua said he had entered South Africa illegally and had lived there for two years selling mobile phone SIM cards. “The police first asked for my ID, which I didn’t have,” he said, adding that he hadn’t been allowed to gather his belongings before he was taken to a repatriation centre.”

Prince Harry ends New Zealand, Australia visits on winning note

•Prince Harry sits on the 3.1 metre crocodile in Darwin PHOTO:AFP Harbour...yesterday.

RITAIN’s Prince Harry wrapped up a visit to New Zealand and Australia on Saturday by scoring the winning goal in a football match and proving he can help capture a crocodile. The 30-year-old prince spent a week in New Zealand, which started with a pub quiz on an outer southern island, included learning a traditional haka at a military camp, and finished with a day of sport

at Auckland. He also revealed during the official visit that he wants to have children and would like a partner to “share the pressure” of royal duties, but is still waiting for the right woman. As New Zealand prepares to hold a referendum on whether to change its flag, which features the British Blue Ensign, Harry used a farewell reception to high-

light his family’s ties with the country. He also touched on his love of rugby and although the sport featured prominently during his visit, he joked that he was not on a spying mission ahead of the World Cup in England later this year. Prince Harry has his photo taken with two young fans during a walkabout outside The Cloud in Auckland on May 16, 2015

He starred in a five-a-side match between New Zealand representatives and volunteers working at the FIFA U20 World Cup, which starts in New Zealand later this month. The score was locked at seven-all before Harry, nicknamed “Scholesy” for the game because of his red hair similar to former England player Paul Scholes, slammed home the winner.

FOREIGN NEWS ANALYSIS

ISIS– Largest, richest $2billion terror-based enterprise

SLAMIC State of Iraq and the Levant (ISIS) is the world’s largest, richest terrorist organizations, ever. It’s a self-sustaining enterprise that runs mainly on extortion and crime networks, hostages, oil, donations… According to Martin Chulov; ISIS has grown from a ragtag band of extremists to perhaps the most cashrich and capable terror group in the world with a $2 billion jihadist network. The scale of ISIS resources is unprecedented: A terrorist organization while ruthless, but still able to occupy large areas of territory, quickly… for example; it controls several major cities in Iraq, which it occupied in just three days, it holds parts of several other cities and continues to menace still other cities throughout Iraq and Syria: It’s quite an accomplishment… According to Michael Knights; some estimates of ISIS’s wealth are overstated, for example; the $2 billion estimate that’s been floating around is too high, but that’s not to say ISIS isn’t raking in a fair amount of cash– between $2 million and $4 million per day… ISIS is a wealthy terrorist movement or better yet an effective financial enterprise, which it run very much like a large-scale Mafia type protection rackets business across much of Iraq. This group has fashioned a small army out of a mix of foreign and local fighters, established oil refining and trafficking operations, and even collects taxes…. Despite longstanding rumors that ISIS has foreign patrons in Gulf States such as; Saudi Arabia, Kuwait and Qatar, there is little evidence that it ever depended on foreign largess… While there may be some foreign money flowing to ISIS, stopping these transnational flows will not stymie the group. Whatever its international influences, ISIS raises most of its money from the territories it feeds off of, making the problem of beating back the group exceedingly difficult… According to Howard J. Shatz; ISIS raises much of its money just as a wellorganized criminal gang would: It smuggles, it extorts, it skims, it fences, it kidnaps and it shakes down. Although supposedly religiously inspired, its actions are more like those of an organized criminal cult… To quote a U.S. mobster; you don’t get ahead just by being thugs but at some point you must also learn to be a racketeer as well…

ISIS’ most important revenue source is the smuggling of oil from the oil fields it controls in Syria and Iraq. It has been reported to control about a dozen oil fields along with several refineries. Estimates of revenue vary, but a range of $1 million to more than $2 million a day is reasonable… ISIS is a formidable fund-raiser. To its disadvantage, the group is also a formidable spender. It pays regular salaries to members based on family size and even has promised to maintain those payments if the member is killed or captured… It also pays rent for some members and medical expenses, maintains safe-houses and buys weapons and other equipment. As cash-based organization, it also has to guard against internal corruption, which is documented in the group’s own records… Historically, ISIS’ main outside revenue has come in small donations from local and foreign supporters… And while donations from the Gulf countries may have been welcome additions, neutralizing donations from wealthy Gulf sources will have little effect on their activities… In the article Who finances ISIS? by Andreas Becker writes: ISIS is recognized as the richest terrorist organization in the world, ever… Iraqi officials estimate that the group now has about $2 billion in its war chest. What remains controversial is where bulk of its money comes from… Iraq’s Shiitedominated government accuses Saudi Arabia of supporting the ISIS jihadis… According to Charles Lister; there is no publicly accessible proof that governments of any state has been involved in the creation or financing of ISIS as an organisation… Others take a different view. According to Günter Meyer; the most important source of ISIS financing to date has been support coming out of the Gulf states, primarily Saudi Arabia but also Qatar, Kuwait and United Arab Emirates… Additional key financing sources are the oil fields of northern Syria: ISIS was able to get the oil fields under their control, where they use trucks to bring oil across the border into Turkey– oil is an important source of funding for them… According to Charles Lister; ISIS is largely able to fund itself, and it has established local networks in their occupied territories that generate a continuing flow of money, for example; systematic extortion of small businesses as well as large companies, such as;

construction firms… and if the rumors are true, even local government representatives… Also, it levies taxes in the areas that it fully controls… However, one of ISIS’ biggest financial coup so far was the looting of the central bank in Mosul, which brought them equivalent of about $429 million in cash. Additional banks in Mosul and other areas under ISIS control were also plundered… With $429 million, ISIS could pay 60,000 fighters $600 a month for a whole year… Also, ISIS fighters looted much equipment that U.S. left for Iraq military, like; weapons, vehicles… Also, with their financial power, it’s relatively easy for ISIS to buy high-quality weapons on international armaments markets… In the article Iraq Interrogation Reveals ISIS Has $2 Billion in Financing by Cathy Burke writes: The interrogation of a trusted messenger for ISIS, led Iraqi commanders to a treasure trove of information on the terror group and its staggering $2 billion in finances… According to officials; before Mosul, ISIS’ total cash and assets was about $875 million, then afterwards, with the money they robbed from banks and the value of the military supplies they looted, its estimated that they added another $1.5 billion to that… In less than three years, the extremists morphed from a ragtag band of militants into the most cashrich terror group in the world, and they are accomplishing these feats all by themselves– these are very industrious people… According to some intelligence officials; there are no state actors behind ISIS– they just don’t need one… In the article Who’s Funding ISIS? by Robert Windrem writes: There is a small but steady flow of money to ISIS from rich ‘individuals’ in the Gulf with Qataris being the biggest suppliers, according to some U.S. officials… According to one expert; these rich individuals serve as ‘angel investors’ for the most violent militants, providing ‘seed money’ that helped launch ISIS and other jihadi groups… These rich Arabs are like what ‘angel investors’ are to high-tech start-ups, except they are interested in starting up groups who want to stir up hatred: Groups like al-Nusrah and ISIS are better investments for them. The individuals act as high rollers early, providing seed money. Once the groups are on their feet, they are perfectly ca-

pable of raising funds through other means, like; kidnapping, oil smuggling, selling women into slavery… According to intelligence official; any outside funding represents a small fraction of ISIS’s total annual income… The largest source of cash now is oil smuggling along the Turkish border, with ISIS leaders willing to sell oil for as little as $25 a barrel, a quarter of the going world price. Since other previously lucrative sources, such as; kidnapping for ransom… is not as profitable as it once was. In the article Islamic State: Where Does Jihadist Get Its Support? by Michael Stephens writes: Much has been written about the support Islamic State (ISIS) has received from donors and sympathizers, particularly in the wealthy Gulf States… Indeed the accusation I hear most from those fighting ISIS in Iraq and Syria is that Qatar, Turkey and Saudi Arabia are solely responsible for the group’s existence. But the truth is more complex and needs exploring… It’s true that some wealthy individuals from the Gulf have funded extremist groups in Syria, many taking bags of cash to Turkey and simply handing over millions of dollars at a time… This was very common practice in 2012 and 2013 but has since diminished and is at most only a tiny percentage of the total income that flows into Islamic State coffers in 2014. Islamic State (ISIS) has put in place what appear to be beginnings of quasi-state structures – ministries, law courts, even a rudimentary taxation system… ISIS has displayed a consistent pattern since it first began to take territory in early 2013… Upon taking control of a town it quickly secures the water, flour and hydrocarbon resources of the area, centralizing distribution and thereby making local population dependent on it for survival… To understand how the Islamic State economy functions is to delve into a murky world of middlemen and shady business dealings, in which ‘loyal ideologues’ on differing sides spot business opportunities and pounce upon them… ISIS exports about 9,000 barrels of oil per day at prices ranging from about $25-$45 (£15-£27): It’s a traditional war economy… The point is that ISIS is essentially self-financing; it cannot be isolated and cut off from the world because it’s intimately tied into regional stability in a way that benefits not only itself, but also the people

it controls… In the article Where ISIS Makes Its Money by Tyler Durden writes: ISIS uses oil wealth to help finance its terror operations. Here’s how they do it… According to ‘Iraq Energy Institute’; the army of radical Islamists controls production of 30,000 barrels of oil a day in Iraq and 50,000 barrels in Syria… By selling the oil on the black market at a discounted price of $40 per barrel (compared to about $93/ barrel in free markets), ISIS takes in $3.2 million/day… According to James Phillips; oil revenue gives ISIS a solid economic base that sustains its continued expansion… The oil revenue, which amounts to nearly $100 million/month, allows ISIS to fund its military, terrorist attacks— and attract recruits from around the world… To be successful in counter-terrorism efforts, Phillips said; U.S. and its allies must push the Islamic State out of the oil fields it has captured and disrupt its ability to smuggle the oil to foreign markets… Here’s how Phillips said the ISIS oil operation works: ISIS sells oil to consumers in territory it controls, roughly the size of Maryland, inside Syria and Iraq. The terrorist group also sells oil to network of smugglers that developed in the 1990s during Iraqi dictator Saddam Hussein’s rule; that network smuggled oil out of Iraq to Turkey to avoid sanctions imposed by the UN. ISIS also reportedly sells oil, through middlemen, to Assad regime… When it comes to making a fast buck, the Middle East has no shortage of ‘strange bedfellows’ willing to do business with each other… The growth of ISIS has been quite incredible: They are armed with– modern weapons, large fighting army, and an effective organization. All of which is bought and paid with real money supplied through a highly sophisticated funding strategy… According to Senator Rubio; ISIS’s criminal activities– robbery, extortion, and trafficking– have helped them become the best funded terrorist group in history. The wealth has helped expand their operational capacity and incentivized both local and foreign fighters to join them… ISIS has the resources, weaponry, and operational safe havens to continue to threaten the stability of the region, as well as; U.S., Europe, other nations’ national security interest. Courtesy BizShift-Trends

THE NATION MONDAY, MAY 18, 2015

FOREIGN NEWS Iraq’s Anbar in ‘total collapse’

Burundi president makes first appearance since failed coup

URUNDI President Pierre Nkurunziza has made his first appearance in the capital since the attempted coup against his government last week. Nkurunziza made a brief statement to journalists in the foyer of his heavily guarded presidential offices in Bujumbura yesterday morning. He did not mention the failed coup plot against him or the protests that have rocked Burundi for weeks over his bid for a third term in office. Instead he described how he contacted the presidents of nearby African countries to discuss the threat from Somalia’s Islamic extremists, al-Shabab. Burundi, Kenya and Uganda contribute troops to the African Union force in Somalia that is fighting al-Shabab. The extremist rebels have retaliated by carrying out violent attacks in Kenya and Uganda. “You know that Burundi is among the countries that is contributing troops in Somalia and that’s why I came here to contact my friends and my fellow presidents in Kenya and Ugan-

Pope urges sense of responsibility to prevail

OPE Francis has called for a sense of responsibility to prevail in Burundi following an attempted coup. Francis made the appeal during his Sunday noon blessing from St. Peter’s Square. He said: “I would like to invite you to pray for the dear people of Burundi, which is undergoing a delicate moment: May the da and these countries are being targeted by al-Shabab,” Nkurunziza said French. He said his aim in contacting fellow presidents was to find strategies to stop threats to the security of Burundians. Nkurunziza was in neighboring Tanzania on Wednesday when a general announced a coup. Loyal forces put down the rebellion and Nkurunziza returned to the country, but he had not been seen in the capital. The coup attempt came after weeks of street protests against Nkurunziza’s efforts to stay in power by standing in elections for a third term in office. Seventeen security officials, including five generals, accused

Lord help all to avoid violence and act responsibly for the good of the country.” Military and police officials announced a coup Wednesday after weeks of street protests against Burundi President Pierre Nkurunziza’s bid for a third term in office. Soldiers loyal to the president stopped the rebellion.

in the attempted coup appeared Saturday before a prosecutor who charged them with an attempt at destabilizing public institutions, lawyers of some of the suspects said. The general who announced the coup, however, remains at large. In Rome on Sunday, Pope Francis called for a sense of responsibility to prevail in Burundi following the attempted coup. “I would like to invite you to pray for the dear people of Burundi, which is undergoing a delicate moment: May the Lord help all to avoid violence and act responsibly for the good of the country,” he said. Meanwhile, seventeen security officials, including five generals, accused in the attempted

coup of Burundi President Pierre Nkurunziza appeared Saturday before a prosecutor who charged them with an attempt at destabilizing public institutions, lawyers of some of the suspects said. The suspected coup plotters are three army generals and two police generals, said Presidential spokesman Gervais Abayeho. Others are four lower-ranking officers and eight soldiers. The suspected coup leader, Maj. Gen. Godefroid Niyombare, is still at large. The coup attempt came amid Burundi’s turmoil over Nkurunziza’s bid for a third term in office. After weeks of street protests against Nkurunziza’s efforts to stay in power, Niyombare an-

•Nkurunziza

nounced the coup on Wednesday. Nkurunziza was in Tanzania attending an emergency regional summit to discuss Burundi’s crisis when the attempted coup started but soldiers loyal to the president stopped the rebellion. Lawyers representing the suspects say officials tortured them during detention. Despite the failed coup against Nkurunziza, about 30 protesters said Saturday they will continue demonstrating against the leader’s bid for a third term, which they say goes against the two term limit set by the constitution. The protesters defied Nkurunziza’s ban on demonstrations and vowed to continue to take to the streets to press the president to drop his plan to run for re-election in June.

Egypt executes six tried by military court

GYPT executed six men Sunday convicted by a military court over a gunfight last year at a suspected bomb factory, as explosives planted outside of courthouses wounded two people following the death sentence given to ousted Islamist President Mohammed Morsi. The six executed men were convicted of killing two military officers in an hourlong battle with police, military and special forces during a raid north of Cairo in March 2014. Judicial officials said the men also were convicted of belonging to the Sinai-based militant group Ansar Beit al-Maqdis, which has since pledged allegiance to the extremist Islamic State group. Amnesty International had called for a retrial in a civilian court for the men, saying “at least three of the men were held in secret at the time of the crime they have been sentenced for.” Egypt has been struggling to contain violence by militants, but the scattered attacks have evolved into a full-fledged insurgency following Morsi’s July 2013 ouster by the military. A court sentenced Morsi and over 100 others to death Saturday over a mass prison break during the 2011 uprising that ousted longtime autocrat Hosni Mubarak. Just after Morsi’s sentencing, suspected Islamic militants gunned down three judges Saturday in the Sinai Peninsula, officials said. On Sunday, the Islamic State group claimed responsibility for the attack in its daily English language audio bulletin, claiming it killed six judges. There was no immediate explanation for the discrepancy in numbers in the bulletin, which was posted by the SITE Intelligence Group, a U.S. firm that monitors jihadis. Meanwhile, officials said a bomb exploded late Saturday outside the main courthouse in the southern city of Assiut, seriously wounding a police officer. Early Sunday, a bomb wounded a young girl near a courthouse in the Mediterranean city of Port Said, they said.

•Palestinian President Mahmoud Abass with Pope Francis during a meeting over the weekend at the Vatican where the Pope recognised a statehood for Palestine PHOTO: AP

32 Islamic State members dead in U.S.–Syria raid

AN inspects a damaged site after what activists said were airstrikes by forces loyal to Syria’s President Bashar al-Assad in the Damascus suburb of Ain Tarma PHOTO:Reuters At least 32 Islamic State members, including four of its leaders, were killed in air strikes and a U.S. special forces raid that targeted the group in eastern Syria, a group monitoring the Syrian war said on Sunday. U.S. officials said the raid killed a senior Islamic State

leader identified as a Tunisian who helped to manage its black-market sales of oil and gas to raise funds. A U.S. official said that about a dozen fighters were killed in the raid. British-based monitoring group the Syrian Observatory for Human Rights gathers its information from sources in the region. The operation in the eastern Deir al-Zor province marked a departure from Washington’s strategy of relying primarily on air strikes to target militants in the area.

Death verdict on Morsi, others alarms U.S.

•Morsi

HE United States expressed alarm yesterday at death sentences for Egypt’s ousted president Mohamed Morsi and dozens of others, a verdict experts called a declaration of “total war” on his Muslim Brotherhood.

Morsi was among more than 100 defendants ordered by a court on Saturday to face the death penalty for their role in a mass jailbreak during the 2011 uprising. He ruled for only a year before mass protests spurred then-army chief and now President Abdel Fattah al-Sisi to overthrow him in July 2013. Sisi won a presidential election in May 2014 backed by Egyptians tired of political turmoil in the world’s most populous Arab nation following the 2011 revolt against longtime autocrat Hosni Mubarak. Washington expressed concern over Saturday’s verdict, saying it has “consistently spoken out against the practice of mass trials and sentences”. “We continue to stress the need for due process and individualised judicial processes for all Egyptians in the inter-

ests of justice,” a State Department official said. Ties between Washington and Cairo plummeted after Morsi’s ouster, with President Barack Obama’s adminstration freezing annual military aid of $1.3 billion to Cairo. Most of the aid was unblocked in late 2014. The foreign ministry denounced global condemnation of the verdict, saying “such comments constitute unacceptable interference in the internal affairs of the country”. Judge Shabaan El-Shamy convicted Morsi, already sentenced to 20 years in jail in another trial, and dozens of other co-defendants including prominent Qatar-based cleric Yusuf al-Qaradawi, of plotting jailbreaks and attacks on police during the 2011 revolt. Many of the defendants

were Palestinians alleged to have worked with Hamas in neighbouring Gaza, and were tried in absentia. The death sentences “have no value and cannot be implemented because they are against the rule of God and people’s laws and customs”, Qaradawi told the Doha-based Al-Jazeera news channel. Experts said the verdict underscored Sisi’s vow to eradicate the 87-year-old Muslim Brotherhood movement, which topped successive polls between the fall of Mubarak and Morsi’s presidential win in May 2012. “The new regime of President Abdel Fattah al-Sisi is using all elements of the state to break the political will of the Muslim Brotherhood,” Fawaz Gerges, professor of Middle East studies at the London School of Economics and Political Science, told AFP.

SLAMIC State militants overran one of the last remaining districts held by government forces in the Iraqi city of Ramadi yesterday and besieged a key army base on the edge of the western provincial capital, security sources said. The militants seized most of Ramadi on Friday, planting their black flag on the local government headquarters in the centre of the city, but a contingent of Iraqi special forces was holding out in the Malaab neighbourhood. Those forces retreated yesterday to an area east of the city after suffering heavy casualties, security sources said, bringing Ramadi to the brink of falling to Islamic State. It would be the first major urban center to be seized by the insurgents in Iraq since security forces and paramilitary groups began pushing them back last year. Anbar provincial council member Athal Fahdawi described the situation in Ramadi as “total collapse” and said local officials had voted in favor of the deployment of Shi’ite paramilitaries to the Sunni heartland. Shi’ite paramilitaries have played a leading role in reversing Islamic State gains elsewhere in Iraq, but have so far been kept on the sidelines in Anbar due to concerns about inflaming sectarian violence. The insurgents were closing in on the Anbar Operations Command to the west and a military officer inside the army base said it was too late to send reinforcements, pleading for help from Iraqi Prime Minister Haider alAbadi.

China urged to release Panchen Lama after 20 years

IBETAN exiles are calling for China to release a high-ranking monk who disappeared 20 years ago when he was just six years old. The boy was detained by the Chinese authorities just three days after the Dalai Lama declared him to be the reincarnated Panchen Lama. The Panchen Lama is the second most important figure in Tibetan Buddhism. Many consider him to be one of the world’s longestserving political prisoners. China has refused provide details of the whereabouts of Gedhun Choekyi Nyima. Children at the Dalai Lama’s headquarters in Dharmsala, India, remember Gedhun Choekyi Nyima. In 1995 it anointed its own Panchen Lama, Gyaltsen Norbu, who while popular among some Tibetans has been described by exiles as a “stooge of the atheist Chinese Communist Party government”. Wangdue Tsering, press spokesman for the Office of Tibet in London, told the BBC that events were taking place on Sunday across the world to mark the 20th anniversary of Gendhun Choekyi Nyima’s disappearance, including a candle-lit vigil outside the Chinese embassy in London.

THE NATION MONDAY, MAY 18, 2015

FOREIGN NEWS Taliban suicide attack kills three near powerful bomb sent Kabul airport up The SUICIDE bomb ata plume of smoke, which tack near the entrance

of the international airport in the Afghan capital Kabul has killed three people, including a British citizen. The attack took place close to the area used by military vehicles and targeted a European police training mission vehicle. Two Afghan teenage girls, described as bystanders, died in the blast, while at least 18 people were injured. The Taliban said it carried out the attack in a statement emailed to media. The British victim has not been named but UK Foreign Secretary Philip Hammond said he was a security contractor. Mr Hammond said he “strongly condemned (the Taliban’s) cowardly actions”. A spokeswoman for the

EU’s police mission (Eupol), Sari Haukka-Konu, said one non-mission member who had been travelling in the Eupol vehicle had been killed. The attack is the second major incident in Kabul within a week. A Taliban gun attack on a hotel in the city on Thursday killed 14 people, most of them foreigners At least eight women and three children were among the wounded in Sunday’s attack, Kabul police said, in addition to three members of Eupol. While not the targets, civilians bore the brunt of Sunday’s attack Injured people had to be carried away from the scene of Sunday’s attack The suicide blast damaged three cars outside the airport

cleared to show a scene of carnage, the BBC’s David Loyn in Kabul reports. Rescuers struggled to carry wounded civilians from the scene in the confused aftermath of the bombing, and a doctor at a nearby hospital dealing with the wounded was reported to have found some of his own relatives among them. A spokesman for the interior ministry, Najib Danish, told reporters that one foreign military vehicle and two civilian vehicles were damaged in the attack. The bombing yesterday comes two weeks after the first exploratory peace talks between the Taliban and a group of negotiators including representatives of the government.

Key Iraqi city falls to ISIS

•Thousands of anti-government protesters rally in Macedonia as unrest unfolds over wiretapping scandal, involving the country’s current leader, Nikola Gruevski...yesterday. PHOTO: REUTERS

East Asia migrants ‘killed in fight for food’ on boat M IGRANTS rescued from a sinking boat off Indonesia have told the BBC that about 100 people died after a fight broke out over the last remaining food. Survivors told of horrific conditions. Three men separately said people were stabbed, hanged or thrown overboard. The 700 rescued migrants from Myanmar and Bangladesh are being processed by the Indonesian authorities. Thousands of migrants are estimated to be adrift in South East Asian waters, denied permission to land. The BBC’s Martin Patience, who spoke to some of the survivors in the Indonesian port of Langsa, cautions that their accounts cannot be verified. Many of the rescued mi-

grants were suffering from malnutrition and dehydration A medical tent has been set up to treat the migrants in Langsa However, three migrants made similar statements in separate conversations. If true, the claims will add to the growing international pressure on Asian countries to find a solution to this crisis, our correspondent says. The migrants had wanted to land in Malaysia but say they were driven away by the Malaysian navy. The boat had reportedly been at sea for two months and had been recently deserted by its crew when it was rescued by Indonesian fishermen on Friday.

The survivors are now being sheltered in warehouses on the shore in Langsa. Many are suffering from malnutrition and dehydration. The Myanmar government has insisted it is not responsible for the migrant boat crisis and said it might not attend a forthcoming summit on the issue. Many women and children are among the Rohingya migrants in Langsa On Sunday, Malaysian Foreign Minister Anifah Aman said he hoped to discuss the crisis with Myanmar “before it is brought to the international level”. Malaysia currently chairs regional group the Association of South-east Asian Nations (Asean).

Yemen: Rebels shun talks

EMENI rebels boycotted peace talks and an Iranian aid ship neared the country’s shores, raising tension as a truce wound down between the insurgents and a Saudi-led coalition battling to reinstate the ousted government. As the rebels shunned a meeting with Yemeni leaders in Saudi Arabia, the ship carrying food and medicine entered the Gulf of Aden and headed for a Yemeni port despite a naval blockade imposed by Sunni Saudi Arabia. The Saudis are leading airstrikes against Shiite Houthi fighters that they views as tools of Iran. “There is the potential for this ship to push the conflict to another level,” with a possible

confrontation, Ibrahim Sharqieh Fraihat, deputy director of the Brookings Doha Center, said by phone. The crisis in the Arab state of 20 million people is pitting regional rivals Saudi Arabia and Iran into a more direct struggle as rifts widen within Yemen’s political and tribal factions. Saudi Arabian airstrikes have failed to roll back rebel gains. The kingdom declared a five-day humanitarian cease-fire, due to expire on Sunday, but clashes persist. The aid ship, which left Iran’s southern Bandar Abbas port on May 11, is carrying about 2,400 tons of food and 100 tons of medical aid, Fars news agency reported on Sunday, adding that doctors, aid

workers and journalists are also on board. The vessel will arrive at Yemen’s Red Sea port of Hodeidah on May 21, according to a state TV reporter on the ship. Alaeddin Boroujerdi, head of the Iranian parliament’s national security and foreign policy committee, said an agreement with the United Nations allows the ship to dock at Hodeidah. That conflicts with a letter to the UN from Yemen’s government-inexile, which, according to Al Arabiya, said all aid must be coordinated with the Saudiled coalition. “Neither Saudi Arabia nor any of the countries belonging to the coalition have the right to inspect the Iranian ship,” Boroujerdi said.

SIS controlled all of Ramadi yesterday after the last Iraqi security forces pulled out from a key military base on the west side of the city, the mayor and a high-ranking security official said. The ISIS advances came after militants detonated a series of morning car bomb blasts, Mayor Dalaf al-Kubaisy and a high-ranking Iraqi security official said. The explosions forced Iraqi security forces and tribal fighters to retreat to the city’s east, they said. The violence is the latest in the struggle by Iraqi and allied forces against ISIS militants for control of Ramadi, the beleaguered provincial capital of

Anbar province. The city is just a few miles from an Iraqi army headquarters that ISIS blew up in March and 110 kilometers (70 miles) west of Baghdad. Ramadi is strategically located in the middle of Iraq’s Sunni Muslim heartland, which is largely controlled by ISIS. While ISIS declared victory and claimed full control of the city, the Iraqi Federal Police vowed to stamp out ISIS in the region. In a statement, police said Brig. Gen. Raid Shakir Joudat was on the way “commanding a huge force consisting of various weapons to cleanse Anbar province from terrorist gangs.”

Iraq’s Prime Minister, Haider al-Abadi, is also preparing to send in reinforcements, according to a statement read on Iraq’s state-run Iraqiya TV Sunday. He’s ordered the al-Hashd al-Shaabi paramilitary force to prepare for deployment against ISIS militants in Anbar province. It will be joined by Iraqi security forces and Sunni tribal volunteers. The decision to mobilize the paramiltary force, which is Iranianbacked and predominantly Shiite, follows a request for help from the Anbar provincial governor, provincial council, tribal leaders and religious clerics.

THE NATION MONDAY, MAY 18, 2015

NEWS Military attacks Ezekwesili Continued from page 4

ency. “We have strived to keep the populace informed in the best way possible in the circumstances we find ourselves.” The DHQ spokesman said the military had done its best to be as transparent as possible. He dismissed the allegation that the military had credibility deficit. added: “ No one has been through this same path before. We keep improving and seeking how to cope with the enormous challenges. You may recall that although it was in the line of duty, I was the first and perhaps the only military officer who against all odds have addressed your leadership and the group as a whole when you marched to the Defence Headquarters at the early stages of your campaign. “ I believe we had cordial interactions all through at that period. It is noteworthy that this gentleman, my sworn antagonist, was not present at that interactive meeting. “We really have no reason to engage in deception as your forum is always quick to allege – apparently with a view to discrediting us and our efforts. “Your assertion, claiming that we have credibility problem is only in the imagination of those pursuing the hate campaign against us. “It is definitely not in the view of the generality of the populace who still trust, depend on and utilise the outcome of all our efforts to inform the public on the counter terrorism campaign. “The ceaseless criticism we continue to get from you has been so uncharitable and could ordinarily be discouraging. “We however derive a lot of inspiration from the appreciation and commendation we keep getting from other well meaning individuals and organizations who continue to urge us on. “The patriot and God fearing person in us will not yield to blackmail and malicious criticism of those using the platform of your otherwise noble organisation, to run us down and plan on how to disgrace us in the pursuit of an agenda to humiliate and ridicule the Nigerian Armed Forces.” Olukolade took exception to personal attacks on his person by an unnamed member of the BringBackOurGirls. He said: “Being in the fore-

front of the efforts to disseminate information is a job I do with passion and sense of responsibility. I do not deserve the hatred and mindless antagonism your organization has continued to unleash on me. “I certainly have a life out of here and it is unfair to work purely for the purpose of destroying my reputation and years of committed and unblemished record of service to my country. “Despite the regular focus and disdainful reference to all communication from me as prompted by those who are so determined to ruin other people’s name and career, I have maintained the restraint required of me both by training and upbringing. Indeed, I am also conscious of the enormous power you wield. “The belief is that your organisation has the determination to ruin the name, career, and reputation of some targeted military officers among whom I have been specifically marked for such cruel treatment. “ I can only leave such matter to God and the good judgement of people who read or hear you. I am so sure I will enjoy the blessing of being vindicated at last. “Meanwhile, I wish your team will consider my point here and spare me and the Nigerian military the undue attacks we have continued to be subjected to in the name of monitoring or calling for accountability. “ We call for fairness as against the present campaign that is fraught with calumny and promotion of one man’s malice against us and anything government. I will not be surprised if this appeal draws more or fresh vitriol from your organisation, especially at the prompting of the hawks in your midst who are the disciples of that prominent member and proponent of the malicious campaign. “This is more likely, considering the determination and unhidden hatred of those who have been acting with a view to drawing me out for a street fight. “ I can assure you that I will not react or join issues under whatever provocation. I will be leaving all such sworn enemies to their conscience and God if they believe in Him at all. “To you as an organisation, please save your platform from being used to perpetrate this injustice as inspired by the prominent and phony member of your BringBackOurGirls campaign.”

•Bishop of Isuikwuato Umenneochi Diocese, Abia State, Rt. Rev. Manasseh Okere; Chancellor Archbishop Vining Memorial Church Cathedral, Justice Babasola Ogunade (rtd); Bishop of Lagos West Anglican Communion, Bishop Olusola Odedeji, his wife, Mrs. Lydia Odedeji; Bishop of Ife Dioceses Rt. Rev. Oluranti Odunbogun and Bishop of Ijebu Dioceses, Rt. Rev. Ayo Awosoge during the thanksgiving service of the 1st Session of the 6th Synod of Dioceses of Lagos west Anglican Communion at Archbishop Vining PHOTO: OLUSEGUN RAPHEAL Memorial Church Cathedral.

Why Fed Govt asked jetties to relocate Continued from page 4

Jonathan directed that a $500m oil and gas project be relocated from LADOL Free Trade Zone (FTZ) in Lagos to Agga in Baylsa State – a decision which a court has reversed – temporarily. Sources close to the Ministry of Trade said the directives given to owners of private jetties to relocate the reception of ocean going vessels to properly approved and established ports was not political. The sources said prior to the last week order on relocation of private jetties, the Presidency, Ministry of Transport, Nigerian Ports Authority (NPA) and the Nigerian Customs Service(NCS) had given similar directives.

The sources said that the directives were meant to guard against security breach and loss of revenue to the agencies concerned. They said 15 publications and letters had been issued since 2012 by the government, in order to ban private jetties operating in the country, adding that none of the affected companies has responded to them. They said the allegation,by Lagos Deep Offshore Logistics (LADOL) that the directives would create a monopoly was wrong. The sources said that LADOL requested for permission to build Floating Production Storage and Offloading (FPSO) vessels, stressing that the government later found out that the firm does not have the where-

withal to execute the project. “Documents made available to the government showed that the width and draft of the Lagos channel cannot accommodate the facility because of limited room for safe manoeuvring and that the average depth and channels are 9.5 meters and 210 meters, while the turning basin radius is less than 600 meters. Based on global practices, the minimum radius for turning basin for FPSO is 600 meters,” the sources added. According to them, the high traffic of vessels could lead to blockade of the channels for weeks or months, there by causing accidents for bigger vessels like FPSO. On safety, the government said other users of channel would Bevin jeopardy, if it has not ordered the reloca-

tion of private jetties to authorised ports. It said LADOL is yet to come out with modus operandi on how to comply with the directives on the relocation of private jetties from unapproved areas to legally certified ports, despite attempts by the Federal Ministry of Transport to make the firm reason with the government on the issue. It said the government ordered the relocation of $500milion FPSO project from LADOL Free Trade Zone via two letters communicated to the firm, after involving in several negotiations on the issue with the firm. The sources said the claims by LADOL that they were under pressure by the President Goodluck Jonathan to relocate to Bayelsa State was sheer blackmail.

10 Boko Haram camps fall to troops, says DHQ

HE Defence Headquarters (DHQ) yesterday said 10 additional Boko Haram camps have been destroyed in Sambisa Forest by troops. It claimed that unconfirmed number of insurgents died in the encounters with troops. But while one soldier was killed by a landmine, two others were injured. The Director of Defence Information, Maj-Gen. Chris Olukolade, who made the

•’Many insurgents killed’ From Yusuf Alli, Abuja

disclosures in a statement in Abuja, said some of the fleeing insurgents had taken to suicide missions. The statement said: “An unconfirmed number of terrorists died on Saturday as 10 additional camps used by terrorists were overran in the continuing offensive operations against the terrorists in Sambisa forest.

“The Dure camp, which is one of the most prominent camps in the forest, witnessed the fiercest battle as the Special Forces descended heavily on it before it finally fell. “Four of the camps were located in a place called Iza within the forest while three others were noted to be recently established by the terrorists before the assault began. “ One soldier died from one

of the landmines encountered in the operation while two others were also wounded. “The terrorists lost a number of vehicles mounted with Anti-Aircraft Guns as well as armoured vehicles. “ Some of the terrorists who escaped from the camps also died as they ran into troops ambush in some escape routes from the forest.” The Defence Headquarters assured that the military will not relent in its efforts to clear the terrorists in Sambisa Forest.

First Lady: strange ailment gone after Jonathan’s loss Continued from page 4

Aso Villa Chaplain, Ven. Obioma Onwuzurumba thanked God for His faithfulness to the first family throughout the tenure of the administration. Stressing that Jonathan offered him an opportunity to serve in the Chapel, he said that at no point in time was the truth about the Lord Jesus Christ withheld from those

who have worshipped there. He hoped that what had been experienced in the Chapel under Jonathan would be passed on to the next administration. The first lesson was taken by the First Lady – from Numbers 6: 22 to 27. The Executive Secretary of the Nigeria Christian Pilgrims Board, John KennedyOpara, read the second lesson from 2 Corinthians 13: 11-14.

It was not all sermons and testimonies. Jonathan got a gift – a picture of his while playing guitar in the chapel. It was presdented by the Aso Villa Chapel Committee. The Committee also presented picture of the First Lady reading the first lesson in the Chapel to Dame Patience. There was another picture – of the couple together in the church. A picture of President’s mother Madam Eunice Jonathan, in the Chapel was also presented to the first family. Since there will be no service at the chapel next Sunday, the children were allowed to make presentation in songs, drama and Bible recitation as part of the May 27th Children’s Day. The children’s department also presented a plaque to Jonathan and his wife. Prayers were said for the first family and the nation. At the service were the

former Minister of Information Prof Jerry Gana, former Anambra State Governor Peter Obi, Chief of Staff to the President Jones Arogbofa and Senator Philip Aduda. Some of the ministers in attendance are: Tammy Danagogo (Sports), Osite Chidoka (Aviation), Boni Haruna (Youth), Abba Moro (Interior), Chinedu Nebo (Power) and Sarah Ochekpe (Water Resource). Speaking with State House correspondents at the end of the service on the initial plan to handover the Chapel on Sunday to the Vice Presidentelect, Prof. Yemi Osinbajo, Onwuzurumba said that Osinbajo could not attend the service in person. According to him, one pastor from the Redeemed Christian Church of God (RCCG), Emmanuel Ibitayo, represented him during the service. The handing over of the Chapel, he said, will be done at a later date.

THE NATION MONDAY, MAY 18, 2015

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YayaToure:Agreatservant for City T

HE Ivorian could be on his way out in the summer and his p erformance against Swansea provided a snapshot of just how impressive he has been in England By Greg Lea It has been an underwhelming campaign for Manchester City, whose title defence turned into the meekest of surrenders as Jose Mourinho's relentless Chelsea machine effectively wrapped up the league many months ago. James Milner, Joe Hart and David Silva provided moments of quality at the Liberty Stadium but, not for the first time, it was Yaya Toure who was City’s match-winner. The midfielder got the first and fifth goals of the game, coming up trumps when his side needed him most. On a weekend which has seen the impending departure of one of the alltime great Premier League central midfielders met with tributes from far and wide, the probable exit of another has largely gone under the radar. Steven Gerrard’s contributions to his boyhood club Liverpool over a 17-year career outweigh those of Toure’s to City for sheer longevity, but the 32-yearold has made just as much of an impact on his side’s fortunes over the past few years. Toure proved as much at the Liberty Stadium, running the show against a side who have impressed all onlookers this season. The Ivorian has been criticised at times this campaign – particularly in the aftermath to

City’s two-legged aggregate defeat to Barcelona in the Champions League – but he has remained one of his club’s most important players. Toure has scored 51 goals in 162 Premier League appearances, a remarkable return for a player who also contributes so much else. He has recorded 25 assists in that time and created 208 goalscoring chances. His passing accuracy stands at 89 percent, while only three of his showings have come from the substitute’s bench, showing how integral he has been to both Roberto Mancini and Manuel

Pellegrini. City’s No.42 is primarily praised for his pace and power but, while those attributes are in no doubt, he is also a supremely gifted technical footballer. His allround play as well as his goals demonstrated that in Wales on Sunday, some superb touches and neat passes evidence of an incredibly talented player who has far more to his armoury than brute force. At first glance, it is perhaps surprising – given how central he has been to City’s greatest moments over the last few seasons – that Toure is almost certain to depart this summer. His agent, the voluble Dimitri Seluk to whom Toure owes much of the blame for the sometimes negative perception of him on English shores, recently claimed the chances of him leaving the northwest were as high as 90 per cent. Former City and current Inter boss Mancini has not made any secret of his desire to bring the midfielder to San Siro, and the drastic need for an overhaul of the playing staff in the blue half of Manchester City means high-earners like Toure are vulnerable to being moved on so vital funds can be freed up in the club’s wage budget. Goal understands that Toure, Edin Dzeko and Samir Nasri head the list of those likely to leave and, for someone on £220,000 (•302,000) per week who will turn 33 next season, it makes sense that Toure is among those shipped out. If he is to seek pastures new, it is to be hoped that the pivotal role he has played in leading City’s evolution is duly recognised. There have been few players better than the midfielder in his five seasons in England. Even now, he remains one of City’s key players and a chief go-to men when they are in need of being dug out of trouble. There were shaky mo-

ments for City in south Wales but teams of their ilk have so much quality that a game can be changed in an instant, patterns of play destroyed with a single piece of magic from a topclass opponent. Toure has hit better strikes than the one that required a deflection off Ashley Williams to open the scoring, but it was a sign that players like him have the ability to turn a match on its head with no prior warning. Even at 32, he's still a game changer. His second was more emphatic, Jack Cork brushed off with ease before a stinging shot was fired past Lukasz Fabianski at his near post. It was the goal that won the game for City, even if Joe Hart deserves huge credit for a worldclass save from Federico Fernandez late on. Whatever happens this summer, Toure has undeniably played a starring role in Manchester City’s coming of age and the club entering English football’s elite. He was essential in City’s two title wins, and probably would have won the Player of the Year award just last year had it not been for Luis Suarez’s otherworldly excellence. Gerrard was rightly lauded with praise following his final Liverpool appearance at Anfield on Saturday. His commitment and loyalty to one club has been admirable, and he will go down as one of the Premier League’s best midfielders. But Yaya Toure is another who deserves his place in the pantheon of the greatest players in his position over the last 25 years. There will be no guards of honour or farewell speeches when the Ivorian takes to the Etihad Stadium field for what looks set to be the final time against Southampton next Sunday, but City fans will presumably will be keen to express their appreciation.

Their club is in a much stronger position than it was when Toure joined five

years ago and his role in their transformation should never be forgotten.

THE NATION MONDAY, MAY 18, 2015

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EUROPEAN... EUROPEAN... EUROPEAN... EUROPEAN... EUROPEAN...

Bale has had a good season - Ancelotti

EAL Madrid boss Carlo Ancelotti insists Gareth Bale has had a good season despite his recent dip in form. The winger has been booed by his own supporters after suffering a crisis of confidence, particularly during the two legs of the club's Champions League semifinal defeat to Juventus. Bale's future has subsequently been brought into question, but Ancelotti offered an evaluation of his contribution over the whole campaign rather than just the last few weeks. "Gareth Bale had a good performance this season," he said at a press conference. "It is difficult to assess a season from a player who had little problems, but has become more accustomed to playing with the team. He surprised most in the first year which was key. This

Ayew: I will quit Marseille

season he has had problems, but the same ones the team has had." Ancelotti also praised Toni Kroos and James Rodriguez for making a swift adaptation to life at Madrid following summer moves from Bayern Munich and Monaco respectively. "The squad is very competitive. New players have come in and offered a very high level of performance - Kroos and James. "In the winter we brought in Lucas Silva, but he is also a player for the future and he has endured a normal template of adaptation." The former Milan boss also praised Castilla coach Zinedine Zidane for producing a reserve side with talent ready to challenge for a place in the first team. "Zidane has done his job. We are well stocked with promising players in the Castilla."

•Bale

ARSEILLE captain Andre Ayew has confirmed he will leave the Ligue 1 club at the end of the season, revealing they wanted to pay him less. Club president Vincent Labrune told The Independent this week that Marseille could not afford to keep Ayew, with the Ghana international expected to move to the Premier League. Speaking after Marseille’s 4-0 thumping of Lille on Saturday, Ayew verified Labrune’s statement. “The president has spoken, therefore, things have been said more or less. We know I’m going to leave the club. This is a page that will turn,” Ayew said. Ayew scored Marseille’s fourth goal against Lille – his 10th strike in 27 games this season. The 25-year-old revealed he was not convinced the south coast club could challenge for the

Ligue 1 title next season and that they would not meet his wage demands. Paris Saint-Germain wrapped up their third consecutive league title on Saturday. “There are many things behind it. We tried to find solutions that I stay but for the club and me it was a bit complicated, whether in sport or financial aspects,” Ayew said. “I expected more, I wanted the club to have a competitive team next year to play the title and it is

not insured. And the club could not offer me the same wage.” Ayew’s contract will expire at the end of June, bringing to an end almost a lifetime’s association with the club. The midfielder’s father – Abedi Pele – played for the club, while Ayew signed his first contract with Marseille as a 17-year-old. Ayew has made 206 appearances for Marseille in all competitions, winning two Coupe de la Ligue titles but missing the 2009-10 French championship as he was on loan at Arles-

Inzaghi: I still have much to offer Milan

ESPITE seeing his side slump to another defeat on Sunday, at Sassuolo, the 41-year-old insists he remains the right man for the Rossoneri Filippo Inzaghi has pleaded to be kept on as AC Milan coach,

Lyon announces Gourcuff’s exit

YON chairman JeanMichel Aulas has confirmed reports linking midfielder Yoann Gourcuff with a summer exit. The highly rated footballer will be out of contract in June and he has been considering his options over the last couple of months. Lyon eventually opted against offering the 28-year-old a new deal at Stade Gerland, with club

Avignon that season. Apart from that loan and a stint at Lorient the season before, Ayew has only ever played for Marseille since returning to France – the land of his birth – from Ghana. It is the third season in a row that Marseille have lost a key player with Mathieu Valbuena having departed to Dynamo Moscow last year, while Loic Remy left midway through the 2012-13 campaign.

president Jean-Michel Aulas revealing that Gourcuff would be leaving at the end of the season. “He is going to stop, yes. It is with some nostalgia. He is a great player who has failed to adapt,” Aulas told Canal +. Gourcuff should have no shortage of offers in the summer transfer window, with the likes of Arsenal, Atletico Madrid and few more top clubs reportedly keen on his services.

•Inzaghi

insisting that he still has "so much to offer" the Serie A strugglers. The former San Siro favourite took charge of the senior squad last summer, after two years running the Primavera, the club's Under19s, but has endured a difficult debut season at the helm. Indeed, a dramatic dip in form since the turn of the year killed all hope of European qualification and Sunday's 3-2 defeat at Sassuolo means that 10thplaced Milan now run the risk of finishing in the bottom half of the table. However, Inzaghi not only feels that there were mitigating circumstances in relation to the Rossoneri's latest loss the first of Domenico Berardi's three goals didn't cross the line, while Giacomo Bonaventura picked up a second yellow for handball - but that he is still the right man for the job. "I'm honoured to be here," the ex-Italy international told Sky Sport Italia. "I have so much still to give and I would like to stay. "I would prefer if this season never finished. I want to help this team grow and I would like to play this game again, with 11 against 11. "Also, in terms of the first goal, the ball didn't cross the line, while the second was maybe offside. "It's hard to react when things like this happen but the team did very well to recover.

THE NATION MONDAY, MAY 18, 2015

NATION SPORT Lagos NNPC-NAPIMS Open T/Tennis Championship debuts

Oshiomhole: Okpekpe A race has achieved its aims

OVERNOR Adams Oshiomhole of Edo State has expressed fulfillment and happiness that the annual Okpekpe 10km race has not only come to stay but has already put the community and Edo State on world map. Speaking after the completion of the race which he also participated in the sports loving Governor disclosed in his assessment speech on Saturday that the race has fulfilled its objectives and will continue to wax stronger. “Let me congratulate the International Association of Athletic Federation (IAAF) and all

From Segun Ogunjimi, Okpekpe those who have contributed one way or the other in making this year’s edition of this competition a reality. “I am excited that Okpekpe Community is not only now on the world map but people from various parts of the world are now participating actively in what has become known as the Okpekpe Annual 10km race. I am satisfied that the purpose of opening up this place is being fulfilled going by the level of acceptance the race has received locally and globally.”

“I am informed that in this year we have more participants than the previous years and by logic we expect that more and more people will participate. For me, I think this is one practical way to remind all of us that there is life outside urban cities and that the real Nigerians, the forgotten majority are in our rural communities.” I appeal to our commercial banks and cottage industries to come here and boost commercial activities in this community.” “Also for those who are in the entertainment industries there is no better time than now to

utilise the serene and peaceful atmosphere here in Okpekpe for the production of their work (Shooting of films)”, the Edo State Governor stated. Oshiomole also encouraged investors to come to the place to build hotels and other social amenities that could attract sports tourism and nations to come and have a feel of the place. He also allayed the fears on the continuity of the competition saying the competition will continue even after he might have completed his term in office as Governor of Edo State.

TWO-DAY table tennis tourney tagged NNPC-NAPIMS Open will hold on May 21 to 22 at Mobolaji Johnson Sports Complex, Rowe Park, Yaba, Lagos Mainland. It is being organised by the Lagos State Table Tennis Association. According to the chairman of the association, Femi Sokoya, the tournament, which is also christened Chairman's Cup, is open to Lagos State athletes. Over 100 players are expected to compete in the men’s and women's singles, as well as Junior Boys’ and Girls' Singles. Prizes are expected to be given to winners of various categories—courtesy of National Petroleum Investment

Management Services (NAPIMS), a subsidiary of the Nigerian National Petroleum Corporation (NNPC). "This competition is being organised to keep the tempo of the game going in Lagos State and more importantly to discover talents. Don't forget that Lagos is regarded as the 'home' of table tennis is Nigeria and we want to leave nothing to chance to ensure that we live up to the name by giving our players good ground to exhibit their talents," said Sokoya who also enjoined lovers of ping pong game to come out in their number to Rowe Park, Yaba to watch two days of exciting table tennis action from the young players.

ONE-WEEK SPORTING EVENT

King’s College hosts Achimota School, Ghana

• Directorate Head, South - Heritage Bank Limited, Mr. Emeke Anene, represemting the Group Managing Director/Chief Executive Officer of the bank, Mr. Ifie Sekibo (right) and Edo State Governor, Comrade Adams Oshiomhole (left), presenting dummy cheques to the three male finalists - Korio Alex Olotptip from Kenya (middle); Leul Gabriel Salassie, an Ethiopian (2nd from right) and Amos Mitel from Kenya (2nd from left) at the 3rd Okpekpe Road Race, which held at the weekend. Heritage Bank sponsored the race as Official Banker

Okagbare-Igho wins 100m in Shanghai

LESSING OkagbareIghoteguonor got off yesterday with a bang in the IAAF Diamond League season, claiming first position in the Women’s 100m with a wind-legal sub-11 time in Shanghai. The Nigerian, 26, powered down the line ahead of the United States of America’s Torie Bowie and Trinidad and Tobago’s Michelle-Lee Ahye in 10.98secs (Season’s Best) with

RESULTS England - Premier League Swansea 2 - 4 Man City Man Utd 1 - 1 Arsenal Italy - Serie A Sassuolo 3 - 2 AC Milan Atalanta 1 - 4 Genoa Cagliari 0 - 1 Palermo Hellas 2 - 1 Empoli Torino 2 - 0 Chievo Spain - Liga BBVA Atletico 0 - 1 Barcelona Cordoba 1 - 2 Rayo Deportivo 2 - 0 Levante Elche 2 - 3 Bilbao Espanyol 1 - 4 Real Madrid Getafe 1 - 1 Eibar Sociedad 0 - 3 Granada Sevilla 2 - 1 Almeria Valencia 1 - 1 Celta Vigo Villarreal 2 - 1 Malaga Netherlands - Eredivisie ADO Den Haag 2 - 3 PSV Cambuur 1 - 2 Willem II Excelsior 1 - 4 AZ Alkmaar FC Dordrecht 2 - 1 Ajax Heracles 1 - 0 GAE

• Tops IAAF standings the wind speed recorded at +0.9m/s. Torie crossed the line nine hundredth-seconds later than the Olympic and World Championships medallist, while Ahye’s 11.13secs time was better than fourth-placed Veronica Campbell-Brown’s 11.22secs and Shelly-Ann Fraser-Pryce’s 11.25secs in fifth place. USA’s Muna Lee and home favourite Yongli Wei finished sixth and seventh respectively, as Jamaica’s Schillonie Calvert and another Chinese Yujia Tao

claimed the bottom two positions in the stellar nine-women field. The Shanghai stadium is fast becoming a good hunting ground for the multi-talented Okagbare-Igho, who, 12 months ago, set Meeting Records on winning the 200m and the Long Jump. “It’s not easy to compete with (the) best of the world but I won. Shanghai loves me, and the track loves me,” OkagbareIgho said in the mixed zone. Getting off her block in a

0.163 Reaction Time, the African short sprint record holder held her ground in the final 40m to claim a resounding victory- her 12th wind-legal sub11 in the 100m. “The first part of the race was the best part. I focused on my start and went well. Normally, I haven’t the best start but now I was leading from the beginning. I hope to compete here next year,” she said. The victory gives OkagbareIgho four maximum points in the Diamond Race to Zurich and Brussels, and she currently sits top of the women’s 100m standings.

Messi’s strike hands Barcelona La Liga title

SECOND-HALF goal from Lionel Messi has handed Barcelona the La Liga title and a 1-0 win over Atletico Madrid at Vicente Calderon last night. Atletico came close to opening the scoring inside the first 10 minutes when a corner found Jose Gimenez at the near corner, but Claudio Bravo quickly got across his goal to make the save. Messi had the first opportunity of the night for Barcelona when Dani Alves crossed the ball in for the Argentine, but his header was straight to the keeper. Alves was involved again late in the first half, winning a free

kick just on the edge of the box, but Messi's curling effort from the resulting set piece struck the crossbar. Messi tried to set up Neymar with a low cross shortly before the interval, but Juanfran was on hand to block the effort, keeping he sides level at half time. The home side made the brighter start to the second half, and came close to breaking the deadlock when Fernando Torres burst into the box, but Bravo was ready to keep the striker's effort out. The league leaders were the ones to open the scoring though as Pedro combined with Messi shortly after the

hour mark, leaving the latter to rifle into the bottom corner. Barcelona could have doubled their advantage a few minutes later as Andres Iniesta slid the ball in for Neymar, but the Brazilian fired wide, before slicing another effort well high moments later. Atletico came close to equalising late on with Guillherme Siqueira tried to pick out the top corner, but Bravo make the save, ensuring that Barcelona will finish the season at the top of the table. The result keeps Barcelona four points clear of Real Madrid with just one fixture remaining, while Atletico stay third in the table.

N the spirit of promoting brotherhood across Africa, King’s College, Lagos, will host Achimota School, Ghana to a one-week sporting event begining today. Announcing the bi-lateral games at a briefing over the weekend, which is being hosted in collaboration with Queen’s College, Yaba the King’s College Principal, Otunba Dele Olapeju said the bi-lateral games will feature sports like football, cricket, hockey, basketball, scrabbles and chess, among others. Olapeju said through the games, which is alternated between Nigeria and Ghana, the school is contributing to sustaining regional relationship, which was established decades ago between the two schools. The games was resuscitated in 2008. “We have had contacts over 70 years. What we are doing is to sustain those old times and even do better. In Nigeria King’s College and Queen’s College have been able to demonstrate the fact that there is what we call African Brotherhood,” he said. The Principal lamented the xenophobic attacks in South Africa which he attributed to poor friendly ties among African States. “Pan Africanism as espoused by Kwame Nkrumah was all about promotion of African love

By Jane Chijioke and care beyond regional boundaries and. Now we have had the reversal of those days. What we saw in South Africa was unfortunate. And so these games that we are hosting comes at a better time when we are resuscitating the fact that between us and Ghana there has been a long partnership,” he said. He explained that the school is determined to improve both the cognitive and psychomotor domains of learning in the pupils with the hope that they would be able to make a living from their talents. Olapeju recounted the gains of bilateral sporting events, including imbibing leadership skills and discipline on the pupils. He noted that the past students who participated in the sport are doing well in their various sports. “It is not only training children to be bookish and of good character but also we want to use sport as a business and we want people who are gifted to make money out of it,” he said. He urged other schools in the state to join in the partnership and also the government to take advantage of the games to improve communication between both countries.

picking up an assist for his team’s third goal in a comprehensive 4-0 win. However, despite his goal drought he has already surpassed last season's tally of seven goals, as he now has 10 goals from 28 games in the Russian Premier League. He is one goal short of his best ever scoring tally of 11 goals achieved in the 2012/2013 season.

Musa ends goal drought

SKA Moscow forward, Ahmed Musa, broke his two month goaldrought by scoring in his team's 4-0 rout over Spartak Moscow. The 22-year-old's last goal for CSKA was on the the 7th of March 2015, when he netted a brace in a 2-1 win over Terek Grozny. Since then he had played nine games without a goal, before scoring in the 76th minute after

• Musa

TODAY IN THE NATION

MONDAY, MAY 18, 2015 TRUTH IN DEFENCE OF FREEDOM

VOL 10 NO 3218

EMEKA OMEIHE

COMMENT & DEB ATE EBA

INNING an election, like that of Buhari, sets forth a series of theatrics. The easiest is the first act. He looks like a kid, who just won a prize or is celebrating a birthday. Everyone comes with a smile. They shove and tumble over each other with a congratulatory message. They pop bottles, except Buhari would not drink given his teetotaler ways and detached dignity. No cakes will he cut either. Music flows, but not of the owambe variety but drums roll and throats are let loose with political party chants and songs. The second act is the loyalty play. Everyone wants to remind the winner how close they were. They want to show how they fought for him, and spent their resources, sold their houses, secured loans and nearly died in accidents. After all, one of the loyalists will say he (Buhari) can see the scar beneath his knee (he rolls up his trousers). They visited the hospital many times. The winner cannot forget when they just started out two decades ago. Others will start speaking the same language in deep and effervescent accents. They will spin yarns about village life or when they were only two together one hot afternoon drinking kunu. Loyalty naturally gives way to intrigues. The other guy was always undermining the party and spoke one or two unkind words about him as candidate. That short fellow was seen once or twice in furtive shadows dining with the opposing candidate. No, don’t mind that other guy in white top, he does not know anything about holding an office. Others do the work for him. Or it is time to pay back our tribe after many years in oblivion, etc. The sober act is the rare one, and that concerns me today. It is the phase of ideas. Few do anything in this area. But that is a crucial part. GMB has said he will use technocrats. That is fine. But technocrats alone cannot make a great team. Some people fought the way to Aso Rock, and if he runs a government of technocrats, he will need politicians to keep the government from falling. Technocrats perform; politicians connect. If you don’t connect with the people, your performance will come away like a baby that is still born. You see the baby but cannot hear it. The cry is shrieking not from the little wonder in the mother’s arm but from the one carrying the little wonder. He will find a few “technoticians” – those who inhabit both virtues – and they will be invaluable. He should remember that the primary task of a leader is to raise leaders. What concerns me in the realm of ideas is not to parrot the clichés about infrastructure, or education or power or health care. GMB said all these during the campaigns, although the details of implementation are

RIPPLES

SAM OMATSEYE

IN TOUCH

intouchnation@gmail.com 08054501081(sms only) Twitter: @samomatseye

•Winner, Informed Commentary (DAME)

A brave new world

•Buhari

•Orji

another. What bothers me is the nature of what the British call the exchequer. Our purse is lean, and the revenue generator is atrophying. States cannot pay salaries, and some people are angry with governors for their impotence. They forget that all the resources of states are government controlled, and the absence of fiscal federalism has paralysed states in many ways as revenue drivers. They rely primarily on taxes. To generate taxes we have to animate the private sector. But the economy of the real sector has come to its knees and relies on the federal purse. Banks wait for the money from the federal and state governments. States that have gold or have capacity to generate income from power cannot make money. If you have limestone, it belongs to the Federal Government. Oil states are entitled to only 13 percent. We are witnessing the chokehold of a federal leviathan. When the federal fails, everyone fails. While we wait for the liberation of states as semi-independent engines of growth, the

Elders of Rivers State: 2015 ELECTIONS WORST IN RIVERS HISTORY

...of course what happened in RIVERS was pure DAYLIGHT ROBBERY

ARDBALL posits that friendship is one of the most abused concepts in human relationship. And when people want to stretch this oddity, they talk about “true friendship” as if there is such a thing as ‘false’ friendship. Hardball could write a fat book on this mushy word and smarmy concept but let’s just boil it down by concluding that friendship is like religion. Why so, you ask hurriedly? Hardball pontificates that just as most people serve various gods not for worship sake but for ulterior motives and in selfish expectation of favours; in like manner people consummate friendship in view of all sorts of personal benefits. This is why in most friendships, as in Law firms, there are almost always senior and junior partners. What about situations of equal partners, you may ask? Well, this is Hardball’s show and I put it to you that equality is relative. Two partners may be equally wealthy materially but they will never be emotionally on equal keel; and of course, never are any two persons intellectually equal. In other words, one of

fulcrum of any economy is the private sector. Humans are the best resource. They are the nucleus of productivity. I focus on two areas of creativity. The first is the technology area. The second is textile. The other day I visited Umuahia and my cell phone ran out of power. I sent for a replacement. But it worked only for two days enough for me to return home to my original one. My first thought was to rile at the phony genius. But I have had to rethink this opinion. Those who make counterfeit cell phone, televisions, etc, betray a fundamental talent. They know how to make things. Many of them do not have formal training on these but they are products of enthusiasm. Abia State Governor Theodore Orji had set out a modest effort to work on formalising the skills and turning their talent into gems for the country. But it is a good start. The Buhari administration should take a special look at these young men who do these

things we call “fake.” If they know the technology, they should be encouraged to strike out on their own, and create new ones. These men are idealists. As D.H. Lawrence said the most idealist nations make the most machines. The United States has led the world in this regard because the society enables the environment for individuals to develop stuff and later puts the infrastructure and resources of state at their disposals. Buhari can borrow a leaf from Lincoln’s words in this regard, “The legitimate object of government is to do for a community of people whatever they need to have done, but cannot do at all, or can not so well do, for themselves – in their separate, and individual capacities.” A new book on the Wright Brothers written by historian David McCullough is making waves in the west today and it celebrates the rigour, dedication and enterprise of two brothers, Wilbur and Orville, who revolutionised how we move. It is a pity that the Southeast states have not jumped at the inspiration of Governor Orji to pool their resources to turn the enterprising élan of the young technologists. In them sleeps the germ of an industrial giant. Isreal today leads the world in semiconductors and they have their equivalent of the Silicon Valley near Jerusalem. It began when the Defence Ministry laid off workers and enabled them to produce chips for their armoury. Many companies sprang up, and the United States encourages them with billions of dollars of free money every year. The textile industry is another instance. Nigeria was the capital of textile in West Africa, and Kaduna and Lagos were two of the mainstays before they gradually collapsed. The talent is still here and the genius is coy in dormant minds of many Nigerians. The Buhari regime needs to look that way, as well as other areas like furniture, food processing, etc. where, to quote the poet Dryden, lies “God’s plenty.”

Dickson’s hypocrisy

F you knew nothing about Bayelsa State Governor Seriake Dickson, you would mistake his press release at the weekend for an act of patriotism. He did not succeed in fooling many people. First, he wrote the advert - or his press team did it for him -with a view to discrediting the governors who were his fellow gangsters not too long ago. He now wants them to go so that after May 29, a new and responsible Governors Forum will be born. Maybe he has ambition to be the new leader, but that is beside the point. When did Dickson wax into a democracy lover? We have not forgotten that he was one of the vandals of democracy who subverted arithmetic in the name of election. Was he not one of the 16 who claimed that 19 was an inferior number? The prose was inelegant for most part but that’s no sin. He wrote, “The leaders of the NGF from the majority party have always tried to use it as a stepping stone, and an instruments(sic) of the enforcement of their will on their political parties and the nation.” What impudence from an elected governor! How did he become party candidate and governor? We were all here when GEJ used him as his poodle to become governor. He basked in impunity. If anyone is to talk about democracy and patriotism, Seriake Dickson should not even be seen. To hear him is sacrilege. His minders should have advised him to keep mum like the River Nun at night

HARDBALL

•Hardball is not the opinion of the columnist featured above

With friends like Jonathan’s…

stab would not hurt as much as a friend’s. Juju music maestro, Ebenezer Obey once sang that the, “rich would befriend the rich and the wretch would befriend the wretch, but Oyename is his friend.” Ndigbo put it even more grimly that the moment the corpse begins to ooze, that friend regarded better than a brother would vanish. Yoruba are rather laconic about friendship: “A friend could make you and he could equally break you.” A common English saying tells us that: show me your friend and I will tell you who you are. That may be true to some extent but one of the greatest exemplar of friendship is Jonathan, son of the first king of Israel, Saul. This is as recorded in the Bible. But his is divine friendship in which he chose to trade his father, the throne, his family and even his own life to safe his friend and soul mate, David. Let us call it Messianic friendship. It may seem a tiny bit ironic that Goodluck Jonathan whose namesake, (Jonathan Saul) epitomised friendship is being so wickedly betrayed by friends this early in the day. Well, let’s just close by saying that with friends like Jonathan’s, who needs enemies?

the partners will always derive some fulfilling vicarious enjoyment from the other. Hardball would invest some time and space someday to render a disquisition on this interesting, if beguiling subject. For now, we have been moved (not to tears surely) by out-going President Goodluck Jonathan’s recent lament that his friends have deserted him! Friends, friends, friends, what a flighty, fleeting idea? To think that the president’s friends have already taken flight while he is still (lame-duck) president ensconced in Aso Rock, imagine what would happen in a few days’ time. Oh, friendship, what a slinking, slithering concept; if friendship were a living thing, I wager it would be a snake rather than a sheep or tiger. This is corroborated by the fact that it is a friend who will desert you, or betray you, break your heart or stick a knife to the side that hurts most. Of course the enemy’s

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