Sun Newsw - September 24, 2012 by The Sun News

N150

MONDAY, SEPTEMBER 24, 2012 VOL. 7 NO. 2458

GROOM SHOT DEAD •Killers wore police uniform – Eyewitness • No, they were robbers – Police

Page 9

Boko Haram Three dead, 46 injured as suicide bomber attacks Catholic church Page 4

WILL CONTROVERSY

Ojukwu family dares MASSOB •Says no amount of threat will intimidate us over contentious property •Issues tenants seven-day quit notice Page 7

L-R: Vice President Namadi Sambo, Gov. Godswill Akpabio, and Sultan of Sokoto, Alhaji Sa’ad Abubakar III, at the 3rd Unity Conference for South-South and South-East Muslim Ummah in Uyo, Akwa Ibom at the weekend.

Bishop reconciles Amaechi, Omehia

Page 9

Panic as JTF deploys gunboats to Bayelsa

Page 6

Man kills rival over woman lover

Page 10

Will saga

N150

MONDAY, SEPTEMBER 24, 2012 VOL. 7 NO. 2458

Ojukwu family dares MASSOB •Says: No amount of threat will intimidate us over property

•Issues tenants seven-day quit notice

Page 7

GROOM SHOT DEAD ...Five days after wedding

•Killers wore police uniform – Eyewitness • No, they were robbers – Police

Page 6

Nigerians blow over N100bn on phone calls monthly Page 25

Boko Haram

Babies injured as Catholic church is bombed The late Ozuah and his wife at the traditional wedding

... Terrorists, sponsors now to face death penalty Page 4

Man kills rival over woman lover

Page 10

N150

MONDAY, SEPTEMBER 24, 2012 VOL. 7 NO. 2458

Page 11

Oyo crisis: NURTW extends caretaker committee tenure

GROOM SHOT DEAD ...Five days after wedding Page 6

Boko Haram: Mass murder averted

Page 4

•Killers wore police uniform – Eyewitness • No, they were robbers – Police

• 46 injured as suicide bomber kills self, two others in attack on Bauchi Catholic church Ondo State Governor, Dr. Olusegun Mimiko, acknowledging cheers from the people of Ose Local Government Area of the state during his re-election camapaign tour of council at the weekend.

Mimiko plotting to probe Agagu – PDP ...Presidency, stakeholders chart way for free, fair polls Page 12

DAILY SUN Monday, September 24, 2012

Monday, September 24, 2012, DAILY SUN

SUNG GIRL

Teachers suspend strike as schools resume today From GABRIEL DIKE

he much-anticipated strike by teachers in public schools in 18 states which is expected to start today over the non-payment of the 27.5 per cent salary increment, has been suspended. The suspension was communicated to the chairmen of the 18 states through an e-mail by the national office of the Nigeria Union of Teachers (NUT), urging the state wings to hold action. The NUT members are protesting the non-implementation of the approved Teachers Peculiar Allowance (TPA). The Ogun State Chairman, Mr. Sam Idowu, confirmed the suspension to Daily Sun yesterday that the national body sent the message. “The national body sent e-mail asking us to put on hold the proposed industrial action. I will get across to my members to know more about the national body’s decision,” Idowu explained. Meanwhile, public schools would resume today after the long vacation alongside some private ones. Some private schools in Lagos that resumed for the 2012/2013 academic session last Monday, were ordered to close shop by the state government. Many private schools in the state that re-opened for the new session based their decision on the approved circular from the state Ministry of Education. Officials of the ministry visited the private schools that re-opened and directed their owners to close down and re-open today. The decision by the ministry officials did not go down well with the owners because they claimed that the circular from the government authorized them to open for academic activities on September 17. Some of the school owners told our correspondent that the ministry officials visited on Tuesday, Wednesday and Thursday, ordering them to close their premises and re-open today even as they ignored the circular brandished by the proprietors/proprietress. On Friday when Daily Sun visited some of the schools ordered to close shop, no academic work took place as only the staff were seen in their offices while in others, they were rehabilitating the structures. The development forced the school owners to call parents to pick their wards while some sent the kids home leaving the teachers behind to do administrative jobs.

NIPR counsels youths at correctional centre By DAMIETE BRAIDE aith makes all things possible while love makes things easy to build lives and secure the future of the people”. “These were the words of Lagos State chapter Chairman of the Nigerian Institute of Public Relations (NIPR), Jide Ologun, when he led a group to visit the Special Correctional Centre for Boys in Lagos. According to Ologun, “the love of Lagos State Government in maintaining the centre has created a great future for all Lagosians which has made the boys to be well taken care of instead of being left alone to their fate.” The boys were encouraged through a seminar titled: “Reaching for good success through personal development” He advised them to create and sustain a sense of worth and imbibe the right attitude that will attract success to them. Members of the delegation, Mrs. Comfort Nwankwo, Mrs. Muyiwa Ojelabi and Prince Abiodun Olatunbosun, also urged the boys to draw closer to God for inspiration and cooperate with the management of the centre on the life transforming mission. They donated laptops to the centre to enhance ICT training in line with global standard support. Mr. Jide Animashaun, a member of the centre’s-management, commended the state chapter for visiting the home, urging other professional bodies to emulate NIPR by providing milk of kindness to the centre and benefit of the society.

“F

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4 DAILY SUN

Monday, September 24, 2012

Former Gov. of Sokoto State, Alhaji Attahiru Bafarawa (right), briefing journalists during his visit to Major-Gen. Muhammadu Buhari’s residence in Kaduna, weekend, while the former presidential candidate of the Congress for Congress for Progressive Change (CPC), General Buhari (left), looks on.

President Goodluck Jonathan, being seen off at Abuja Airport, weekend, by the Secretary to the Government of the Federation (SGF), Sen. Anyim Pius Anyim (right), Chief of Staff to the President, Chief Mike Oghiadomhe (second right) and FCT Minister, Sen. Bala Mohammed during Jonathan’s departure for the 67th session of the UN General Assembly, New York, USA. Photos: NAN

Mrs Adejoke Orelope-Adefulire (second right), Deputy Gov. of Lagos State, presenting a cheque of N6 million to the Green family, winners of Maltina Dance All 6 held at Eko Hotel and Suites, weekend. With her is Mr. Nocolaas Vervelde, MD/CEO, Nigerian Brewries Plc, organisers of the event.

COVER From PAUL ORUDE, Bauchi

t was another black Sunday in Bauchi as a suicide bomber attacked St. John’s Catholic Church in Wunti area of Bauchi State capital killing self, two others and injuring 46 others. The attack came exactly a week after nine senior citizens were shot dead while five others were injured when gunmen opened fire on them in the Zango area of the state capital. The senior citizens were playing draught under a tree. They were buried last Wednesday. This is even as a proposed law recommends death penalty for terrorists. Their sponsors, too, will be jailed 20 years. In yesterday’s attack, the Chairman of the Christian Association of Nigeria (CAN) Bauchi, Rev. Lawi Pokti, confirmed three people were killed and more than 40 others seriously wounded in the explosion. The deputy spokesman for the state police command, Hassan Mohammed Auyo, confirmed that two policemen were among the 46 injured. The two injured policemen were deployed in the church. Auyo said: “A suicide bomber targeted the church but he was prevented, instead, he detonated his explosives in the parking lot, killing one person and among the injured victims taken to the hospital, a boy of six to eight, died while receiving treatment.” One of the injured, Eugine Uguru, was weeping as he narrated that his two children were killed in the blast. Eyewitnesses said the suicide bomber in a bid to beat the security personnel, took the wrong way in front of the Abubakar Tafawa Balewa Stadium. “He went for the first mass which is 6 am. The mass ended at 8: 55am. We had just finished the first mass and we were going out of the church. The people coming for second mass were filing in. I just left the church premises and took a uturn and as I was about to reach the traffic light, I suddenly heard an explosion,” Uguru said. Another eyewitness who does not want to be named, said the bomber came in an Opel car which was wrecked beyond recognition while the body of the suspect was blown into pieces. He said that the suspect tried to enter the

Boko Haram: Mass murder

averted at Bauchi church •46 injured, as suicide bomber kills self, 2 others nected with terrorism. ... Death penalty now awaits terrorists The Terrorism (Prevention) church, but when he failed, he later detonated his explosives in a car park, killing him and one woman while injuring many people including a passer-by. He said: “We came out from training inside the stadium and just passed the church when we heard a loud sound followed by fire and smoke, we have to run faster for our dear lives. “Police and Army cordoned off the area as the victims were evacuated to the hospital while security men blocked the road. “The drums that were filled with concerete within the church gate prevented the bomber from entering the church, reduced the casualty figure. The Nigerian Civil Defence Corps (NCDC) operatives were seen evacuating the dead and injured at Press time. One man who simply identified himself as Paul, wept as he narrated that his wife, Gloria, was killed. He said he was still looking for his son while he prayed for the boy’s safety. There are fears that the death toll may increase. The situation has caused panic among residents particularly Christians. Rev. Pokti described the attack as unfortunate and coming a week after nine Christians were killed. Rev. Pokti called on President Goodluck Jonathan to address the lingering insecurity in the country. “Are Christians being forced to abandon the worship of their God? What have the Christians done to warrant these unprovoked attacks? We are really disappointed becaue it is like there is no one to protect us against these killings”

The CAN chairman called on the Bauchi State government to beef up security to forestall future attacks, saying Christians were no longer safe to go to church. Meanwhile, the state governemnt has condemned the attack, describing it as the handiwork of terrorists. Mr. Ishola Michael, the Chief Press Secretary to Governor Isa Yuguda, assured that the state government was doing everything possible to forestall another attack. Meanwhile, in a bid to curtail Boko Haram, the Defence Intelligence Agency (DIA) has acquired communication vehicles that can detect bombs as well as prevent detonation. The communication vehicle, according to Daily Sun findings, has the capacity of detonating explosives planted within some kilometres. Similarly, the agency has established two new defence sections in Mali and Niger Republics, to curtail the invasion of Boko Haram into the country. The communication vehicles which are expected to arrive in the country this week, would enable the agency prevent incessant bomb explosions. In a related development, barring any change in the new anti-terrorism law, suspects will now get the death penalty if convicted, while their sponsors face 20 years jail. Also, anybody found to belong to a proscribed organisation and confirmed as a terrorist, equally faces up to 20 years in prison. These penalties are contained in a Bill for an Act to make provisions for and about offences relating to conduct carried out for purposes con-

Act, 2011 (Amendment) Bill 2012 has already scaled First Reading in the Senate. The law seeks to provide measures for the prevention , prohibition and combating terrorism, the financing of terrorism in Nigeria and for the effective implementation of the Convention on the Prevention and Combating of Terrorism and the Convention on the Suppression of the Financing of Terrorism. The Act also seeks to prescribe penalties for violating any of its provisions. In the new law, a copy of which was obtained by Daily Sun, a person “who knowingly does, attempts or threatens to do an act preparatory to or in furtherance of an act of terrorism or commits to do anything that is reasonably necessary to promote an act of terrorism or assists or facilitates the activities of persons engaged in an act of terrorism, commits an offence under this Act.” Similarly, a person “who belongs to or professes to belong to a proscribed organisation commits an offence under this Act and shall on conviction be liable to imprisonment for a maximum term of 20 years. “A person who knowingly, in any manner, solicits or renders support for an act of terrorism or a proscribed organisation or an internationally suspected terrorist group commits an offence. “Without prejudice to subsection (2) of this section, where death results from any terrorist act, the penalty shall be death sentence: commits an offence under this Act and shall be on conviction be liable to imprisonment term of 20 years.” Section 6 of the proposed law specifically empowers the Attorney-General of the Federation to freeze assets of suspected terrorists.

DAILY SUN Monday, September 24, 2012

6 DAILY SUN Monday, September 24, 2012

NEWS

•The late Ozuah during his traditional wedding

• Ozuah alive

Husband shot dead five days after wedding •Policemen shot Ugo in my presence, says deceased’s friend • No, he was shot by robbers – Police By WOLE BALOGUN

t was a tragic evening in Lagos last Thursday when a 36-year-old man, Ugochukwu Ozuah, was shot dead at about 10 p .m. by men in police uniform. The deceased got married to his heartthrob just five days before his life was cut short in a gruesome manner. Daily Sun learnt that Ozuah was in company with a friend, Mr. Irikefe Omene, when the incident happened. The deceased had conveyed his friend to UPS junction in Gbagada area of the metropolis to enable Omene to catch a taxi to his destination. The two young men had alighted from the deceased’s car and were about looking for a cab for Irikefe when men in police uniform accosted them, demanding for their identity. And suddenly, one of the policemen allegedly fired a shot at the deceased. “He was shot in the heart and the bullet pierced through him and escaped through the back,” the deceased’s in-law, Mr. Chuba Nnonyelu, told the reporter. Ozuah was married to Joan, his lovely hearttrob just Saturday, September 15. Their elaborate wedding was well attended by friends, families and church members at The Redeemed Evangelical Mission, (TREM) where it held amidst pomp and ceremony at the church’s national headquarters in Gbagada, Lagos. When Daily Sun called at the deceased’s parent’s home in Maryland, Lagos, yesterday, grief was written all over the faces of everyone. Friends, families and neigb-

hours were in a mournful mood. Mr. Nnonyelu, who spoke with the reporter said: “My wife was called late Thursday night and Joan, the deceased’s newly wed, was screaming on the phone, saying she couldn’t understand what Ozuah’s friends were telling her on phone about her husband. My wife told Joan to calm down. So, they later called back and the friend who was with Ugochukwu when he was shot told us that they were shot. He said Ugochukwu and his friend were in the deceased’s car. He was to drop him at the UPS Bus Stop at Gbagada that night

about 10p.m. They had alighted from the car and were looking for a cab when some men in police uniforms accosted them. They were shouting at them, demanding that they reveal their identity when suddenly a gunshot rang out and the men ran helter skelter as Ugochukwu crashed down immediately. Irikefe said he hurriedly ran to Anthony Police Station to report and the policemen followed him to the scene of the crime. “When he returned to the scene with the policemen, other policemen had joined some sympatizers to save Ugochukwu who was already in a pool of his own blood. The bullet actually hit him on

the chest, pierced through his body and escaped through his back. “They rushed him to a major hospital at GRA, Ikeja, but the doctor there said that Ugochukwu died about 20 minutes before he was brought in. Irikefe said the policemen followed him to the hospital and he also went to their station to report the matter and wrote his statement. But the DPO of Anthony Police Station told me that Irikefe had not written his statement.” When the reporter spoke to Irikefe on phone, he sounded very traumatized. He said: “I am not well-disposed now. The doctor is here attending to me. I will see you tomorrow. I actually wrote a statement about what happened to Ugochukwu at the Anthony police station that night.”

Pressed further to brief the reporter on what he wrote at the police station, a man who introduced himself as the deceased’s family lawyer stopped the interaction, saying that he needed to interview him first, saying Irikefe could then talk to the press. Meanwhile, in a telephone conversation with the reporter on phone, the Lagos State Police Public Relations Officer, (PPRO), Mrs. Ngozi Braide, said that the men who shot Ugochukwu were armed robbers in police uniform, saying they were not in a police van and that there were no policemen on duty at that place that night. Her words: “ The DPO of Anthony Police Station has briefed me about the incident. He said that at about 10:30 p.m that Thursday, he got a call that there was a gunshot

around the UPS junction in Gbagada and he took his men to the scene and there they saw the deceased in the pool of his own blood. “The armed robbers had run away at the time the DPO and his men got to the scene. The deceased’s friend later met them at the scene and they asked him to go with them to the police station to make statements but he declined. The DPO said Irikefe Omene did not write any statement on the incident at the police station that night.” The late Ozuah hailed from Awka Local Government Area of Anambra State. The deceased’s family said his wife, Mrs. Joan Ozuah, who he had married five days before his death, was too traumatized to talk to the reporter.

Baby twins strangled, dumped in refuse heap in Onitsha From EMMANUEL UZOR, Onitsha

esidents of Okosu in Inland town, Onitsha woke up to behold a gory sight of decomposing bodies of twins dumped in a dustbin by a woman suspected to be their mother. Daily Sun gathered that the twins, who were males were dumped in a waste bin at Okosu by Umuike junction, Inland Town within the commercial city of Onitsha by an unknown person at about 3a.m. yesterday. Although the identity of the suspect was not yet known at press time, passersby said the babies could be victims of unwanted pregnancy, adding that their mother had strangled them for easy disposal. According to one of the

early sympathizers, who pleaded anonimity, the mother of the twins could have strangled them maybe to aid easy disposal, stressing that the suspect killed the babies to free herself from taking care of them. “We just came out this morning only to behold this evil act and as a woman, I began to ask myself how a fellow woman and mother could kill such innocent children and dump them in a dustbin. It could be true that these innocent children were killed by their mother because they were unwanted but God will deny whoever that meted this type of cruelty on these innocent children, happiness that fruit of the womb brings.” She also disclosed that the deceased could also have been strangled by their moth-

er and her accomplice, noting, “no man would allow his blood that has reached this level of development to be wasted just like that but I am not disputing the fact that their mother strangled them to cover her wicked track but God will surely punish who-

ever that did this.” Immidiately the news spread to the entire neigbourhood, church ministers condemned the act and prayed God to grant the souls of the twins eternal rest while calling on young girls to be careful about their life styles.

The Police Public Relations Officer (PPRO), Mr. Ralph Uzoigwe could not be reached on phone but the Divisional Police Officer (DPO) Police Inland Town, Mr. Evans said he had not received the information at the time of filing this report.

RCCG celebrates Nigeria at 52

s Nigerians gear up for the nation’s Independence Day celebration, the Redeemed Christian Church of God (RCCG), Lion of Judah Parish, has said it would hold a programme tagged, “Celebrate Naija” to mark the day. A statement from the Church indicated that the programme would feature 10 hours of praise, worship,

word ministration and drama. The programme, scheduled to hold from 10a.m. to 8p.m. on October 1, would take place at the Church premises at 94 Agege Motor Road, Idi Oro, Mushin. The dress code would be green and white. The Church added that though a lot of negative things abounded in the country, “we need to tap into the island of her creativities. We believe that with her enormous natural and human

resources, she is rated the giant of Africa, which if we manage properly, we will indeed recover. There are wonderful things about Nigeria.” The host pastor, Pastor Cyprian Orakpo, assured that the celebration would have lasting impact, saying, “the presence of and power of God will abundantly bring not only miracles and divine interventions but also great salvation of souls.”

DAILY SUN Monday, September 24, 2012, 7

NEWS

Ihejirika set to become first 4-star Army general •As Jonathan names new COAS next week From CHUKS AKUNNA, Commander, Doctrine and Training Command Abuja (TRADOC), Minna, Maj. here were strong indica- Gen. J. A. Okunbor, and tions at the weekend that GOC 2 Division, Ibadan, President Goodluck Maj. Gen. M. D. Abubakar. If promoted a four-star Jonathan has short-listed four Major-Generals to succeed General, Ihejirika would be the Chief of Army Staff the first officer from the (COAS), Lt. Gen. Azubuike South-East, and the second Igbo after Air Chief Marshal Ijejirika. Daily Sun gathered that Paul Dike (rtd), to be so decIhejirika was due for promo- orated. While the appointment of tion as a four-star General and appointed Chief of the service chiefs is reportedly to Defence Staff (CDS), in place be at the President’s discreof Air Chief Marshal Oluseyi tion, several factors, includPetirin, who retires next ing command positions held, week. seniority in the service, and The nominees, according geo-political balancing, to Presidency sources, among others, often come include the Commander, into play. School of Infantry, Jaji, Maj. Daily Sun gathered that the Gen. Mohammed Isah and files of Major Generals Isah, Chief of Training and Ngubane, Okunbor and Logistics, Maj. Gen. Abubakar have been sent to Lawrence Ngubane. President Jonathan as The others are Commander in-chief of the Armed Forces of Nigeria, for consideration ahead of Pentirin’s retirement. Isah had served as GOC, Ojukwu, dated October 11, 82 Division, Enugu, Ngubane 1985 while the suit was still had in addition to serving as on, said among other things, GOC 2 Division, Ibadan had “In the meantime it has been commanded the Joint Task established that the house Force (JTF). belongs to OTL and that the Maj. General Okunbor Directors are the rightful per- served as Deputy sons to claim or authorize Commandant, Armed Forces someone to inhabit the prem- Resettlement Centre, Oshodi, ises.” and Maj. Gen. Abubakar as To further buttress its posi- GOC, 2 Div., Ibadan. tion that the ownership of the said property was not in doubt, the board also referred Daily Sun to the minutes of its meeting of Friday, June 26, 2009 held at Ikemba’s Palace, 7 Forest Crescent GRA, From TAIWO AMODU, Enugu which reads in part, Abuja “Development of OTL Property: It was learnt that enior Special Assistant, No. 29 Queens Drive, Ikoyi Public Affairs to the was in a bad shape as the President, Dr Doyin walls were collapsing. To Okupe has admonished fedavoid the property from being eral lawmakers to cooperate taken over by the Lagos State with the executive arm of in view of its present precari- government in ensuring good ous state, it was unanimously governance, rather than resolved on a motion support- indulge in bickerings that ed by Ezeigbo that Massey could threaten the country’s Udegbe & Co. should present democracy. a proposal for the mainteOkupe gave the admoninance of the property and tion yesterday during a press gradual re-development of briefing in Abuja. the property for the approval Making allusions to the of the board at the next Board position of the National meeting.” Assembly on the planned introduction of N5, 000 note which was eventually jettisoned by the Federal Government, Okupe noted that President Jonathan was spoke on the condition of fully convinced of the ecoanonymity told Daily Sun nomic relevance of the abortthat the fake currency notes ed note,” but his decision to were only differentiated from step it down was informed by the genuine ones because a well thought out position to they bore no numbers. He said during interroga- respect the feelings of tion, the suspect confessed Nigerians”. While lauding the vibrancy that he was a staffer of Nigeria Security Printing and of the two chambers of the National Assembly, Okupe Minting Plc. He said the police had con- however, pleaded for modertacted the agency about the ation for the sake of the poliguard and would soon be ty. “The competition between transferred to the State Criminal Investigation the Executives and the Department (SCID) Panti for Legislature arms isn’t peculiar to. Nigeria.” investigation.

• L-R: Minister of National Planning, Dr Shasudeen Usman, Minister of Information, Mr Labaran Maku, FCT Minister, Senator Bala Muhammed and officials of FCT, inspecting the extension of inner southern expressway during the ‘National Good Governance Tour’ in Abuja at the weekend.

Ojukwu family dares MASSOB • Says no amount of threat ‘ll intimidate us over property • Issues 7-day quit notice to tenants From GEOFFREY ANYAN- 32A Commercial Avenue, Yaba; 29 Queens Drive, WU, Awka Ikoyi; 30 Gerrard Road he face-off between the Ikoyi and 4 Macpherson widow of late Igbo Avenue, Ikoyi all in Lagos, leader and Ikemba since the death of her husNnewi, Dim Chukwuemeka band or allow the compaOdumegwu Ojukwu, ny’s agent to take charge of Ambassador Bianca Ojukwu the property, the company and members of Ojukwu had to issue the quit notice family over the management to the tenants. A copy of the notices of some family property located in Lagos deepened signed by Ifeanyi Okumah last week with the family of Sterling Attorneys, company lawyer serving ten- Enugu which was made ants in the affected property a available to Daily Sun and seven-day ultimatum to which has a heading, “Notice of Owner’s intenvacate the property. Also, the family has said tion to apply to recover posthat it would not be intimidat- session,” addressed to the ed by any threat from any Occupier, No. 30 Gerrard quarter whatsoever, vowing Road, Ikoyi, Lagos reads in to fight the matter to its logi- parts, “I, Ifeanyi Okumah, solicitor to Ojukwu cal conclusion. Ambassador Ojukwu had Transport Limited, the three Saturdays ago raised the owner of the premises alarm that her husband’s fam- known as No. 30 Gerrard ily was trying to take away Road, Ikoyi, Lagos, with the from her the property her hus- appurtenances, which you band was managing till his occupy without the knowldeath, adding that there was edge of the owner and an arrangement whereby her which by a letter reference late husband Ikemba man- M U C / M A N . O T L / 2 1 5 aged about five property and dated 10th July, 2012 (copy his brother managed nine, attached), Massey Udegbe of the firm of Massey each with his own agent. But in a reaction to her Udegbe & Co informed you claim, Dr. Ike Ojukwu, son of of his appointment to manProf. Joseph Ojukwu and a age the property and you Director of Ojukwu Transport still refused to disclose your Limited (OTL) stated that the interests in the property, do said property were not hereby give you notice that Ikembas but belonged to unless peaceable possession OTL, which was left behind of the said property, which by their patriarch, late Sir is now held over and Louis Odumegwu Ojukwu detained from the said landand that there was no such lord, be given to it on or arrangement as narrated by before the expiration of the Ambassador for the man- seven clear days from the service of this notice. agement of the property. “Failure to do so, I, However, Daily Sun gathered that following alleged Ifeanyi Okumah, shall apply refusal of Ikemba’s widow to to court, to issue a warrant render account on the proper- directing an appropriate perty which are on 13, son to enter and take possesHawksworth Road, Ikoyi sion of the said premises (now 13 Ojora Road, Ikoyi); and eject any person there-

from.” Confirming the notice to the tenants on behalf of the Board of Directors of OTL, Dr. Ojukwu said the matter would be pursued to a logical conclusion by the family, stressing that anyone that had taken any kobo of the company would be made to pay back. Asked about the threat by the leader of Movement for Actualization of the Sovereign State of Biafra (MASSOB), Chief Ralph Uwazuruike to the effect that they would not allow anyone to tamper with Ikember’s property, Dr. Ojukwu declined comment. Assuring that the legal process would be followed to its logical conclusion and not limited to Nigeria, he said, “No one is above the law. The company wishes to remind everyone that to operate an account in its name without its knowledge and approval is a very serious crime. Family and company will not be intimidated by any threat from any quarter whatsoever. The company is focusing on charity works, the proposed memorial hospital and scholarship for deserving students.” Meanwhile, the Board of Directors of OTL has described as unfortunate and blackmail the insinuation that it is fighting over Ikemba’s property, insisting that Ikemba while alive acknowledged in many documents that the property in question belonged to OTL. It noted that both the Judgment of Lagos State High Court of July 6, 1987 delivered by Justice G.A. Oguntade in the suit Chief Emeka Odumegwu Ojukwu against Military Governor of Lagos State and two others

and the August 23, 1993 Federal Military Government gazette signed by General Ibrahim Babangida for the release of the said property made it clear that the property belonged to OTL. In the said Justice Oguntade’s judgment on the property at 29 Queens Drive, Ikoyi, Lagos at page 12, paragraph two, the Judge said, “I think that the plaintiff is entitled to succeed on the first leg of the claim. If as has been shown, the property in dispute belongs to Ojukwu Transport Limited and if that company is not against the plaintiff remaining in possession of the property, then plaintiff must be considered as a licencee or tenant at will of Ojukwu Transport Limited. I hereby declare that the plaintiff is entitled to reside in the property situated lying and being at No. 29 Queens Drive, Ikoyi, Lagos as a licencee and/or tenant at the will of Ojukwu Transport Limited.” In one of the documents referred to by the board, the late Dim had in the letter he wrote in his own handwriting to his brother Prof. Joseph

Police arrest NSPCM staffer with fake naira notes

By CHRISTOPHER OJI

olice in Lagos have arrested a security guard attached to the Nigeria Security Printing and Minting company with N900, 000 fake naira notes. The suspect, Osakpolor Igbinasa was arrested by policemen attached to the Sagamu road police division, Ikorodu, area of the metropolis. The suspect Daily Sun learnt was arrested, while trying to exchange the money for real N300,000. A senior police officer who

Stop heating up the polity, Okupe tells NASS

8 DAILY SUN Monday, September 24, 2012

NEWS Shun violence and embrace peace, group tells Nigerians By HENRY UTSALO

istrict 9100 of the Rotaract Club of Nigeria had a peace trek to mark the United Nations World Peace Day in Lagos with its club members walking from the Ikeja Local Government area to the Governors, office, Alausa, Lagos. Other clubs such as the War Against Indiscipline ( WAI ) and the Peace Corps of Nigeria also participated in the work. The co-ordinator of District 9100, Folarin Olayinka, said the reason for the trek was to embrace peace in the society as they believed in world peace. He also said it was through peace that the future could be built and have a positive impact to life. He added that they were ready to work with the government to create peace and that they would appreciate if the government organized programmes that would keep the young ones going and making sure that they were not used as instrument of destruction. Also speaking was the chairman of the peace trek, Oluwa Enitan who said “the business of your neighbor should be yours as it, can be traced from the Bible that you should be your brothers keeper and that is one aspect that peace can be maintained in the present society.” She said peace could be achieved by collective responsibility. The event was marked by many other voluntary organizations in Lagos and other parts of Nigeria.

PAC puts members on security alert

olice Assistance Committee (PAC) has urged its members nationwide to be vigilant in observing happenings within their environments which could threaten security situation in the country. Addressing PAC executive members at an emergency security meeting held in Lagos, the Director-General of the body, Dr. Martins Oni stressed the need for their members to intensify efforts at this crucial time in ensuring that useful information were gathered and disseminated to the police and other security agencies to forestall any security breach. The PAC boss directed all chairmen, secretaries and public relations officers of trade associations and unions who constitute their grassroot members to keep mobilizing themselves in the performance of their primary objective of passing useful and timely information to Divisional Police Officers and Area Commanders within their various localities. Dr. Oni commended the IGP, Mr. Mohammed Abubakar over the on-going police reforms, which it said, were yielding good results in the performance of the force, while he also acknowledged the support PAC members presently enjoyed from state commissioners of police nationwide.

Okpareke, former ICAN president, loses dad

he death has been announced of the great patriarch of Obioha clan in Ndi-Anchie Uno, Arondizuogu, Ideato North, LGA of Imo State, Chief C. Moore Obioha, JP. He was the Ozuomee 1 of Arondizuogu, Moscol, Ugwu Aro of NzukoAro and Enyi Nyi Abia. He died on Monday, September 10, 2012 at a Hospital in Victoria Island, Lagos after a brief illness. He was aged 88 years. In a statement issued in Lagos on Sunday,and signed by Prince G. Moore Obioha (ObiagbosoIzuogu) for the family, Chief Obioha was one of the remaining social and economic heavyweights of Arondizuogu, was an icon and legend. He helped to popularize Arondizuogu in Eastern Nigeria, and in fact, in the entire Nigerian nation. The late Chief C. Moore Obioha was the founder of C. Moore Obioha Holdings,(Group of Companies) which included: C.Moore Obioha Sons & Company Ltd, Moscol Transport Co. Ltd, Moore Nails & Steel Industry Ltd and Moscol Oil and Gas Ltd, and remained its Chairman

for many years. In that company, he employed many Nigerians, including several of Arondizuogu sons and daughters. Ozuomee1 of Arondizuogu was also a two-term President-General of Arondizuogu Patriotic Union (APU). He was truly a great patriot and a notable philanthropist. According to the statement, Ozuomee1 of Arondizuogu was the father of many successful Arondizuogu sons and daughters including Dr. Kate Okpareke, a past president of the Institute of Chartered Accountants of Nigeria (ICAN) and a former Commissioner of Finance in Imo State. Funeral arrangements will be announced by the family, added the statement.

•Founder, The Tony Elumelu Foundation, and Guest Speaker, Mr Tony Elumelu (m); Deputy Director, Entrepreneur Development Centre (EDC), Mrs. Nneka Okekeani (l) and Diretor, EDC, Peter Bankole, during the EDC Convention, organised by EDC, Pan African University, held in Lagos at the weekend.

Thugs assault doctor in Ogun ...Over free medical service By MOSHOOD ADEBAYO, patients as well as their relaAbeokuta tions not to vent their anger on medical personnel on duty medical doctor at the stated: ‘’Patients and their relState Hospital Ota, atives should not visit their Ogun State has anger or display emotions on incurred the wrath of a hospital staff. Grief is a norpatient’s relatives for daring to mal thing, but it should be ask them to pay for medical done with all sensibilities.” services. The Association which Making this disclosure yes- acknowledged steps so far terday in Abeokuta, the Ogun taken by the hospital authoriState capital, the Public ties, by arresting and charging Relations Officer of the the suspects to court, Nigerian Medical Association described the incident as a re(NMA), Dr. Gaffar Akinsanya occurring decimal in the state. decried what he described as incessant assault on doctors in the state while discharging their official duties. Akinsanya lamented how Dr. Ademosu Moruf Ademola From AKIN ALOFETEKUN, of the State Hospital, Ota was Minna allegedly assaulted by susrofessor of crop producpected thugs. tion and Managing According to him, Director of Upper Niger Ademola incurred the wrath of the hoodlums after they River Basin Development were asked to pay certain sum Authority, Paul Shaba Marley of money into the govern- has hinted of imminent food ment’s treasury for the treat- scarcity in Nigeria, occasioned by the perennial floodment of the patient. ‘’This piece of advice did ing being experienced across not go down well with the the country this year. According to Marley, hoodlums who were infuriated by the directive and flooding “is a threat to nationunleashed terror on the doctor al food security programme of the Federal Government on duty’’. He adds: ‘’As far as we are and a signal to possible food concerned, health care service scarcity next year due to is not free in Ogun State and washing away of many farmpeople should not expect to lands, especially in the northget to the hospital and not pay ern region.” Speaking with journalists for service rendered. Akinsanya, who urged in Minna at the weekend,

The NMA lamented that crowd control system was very poor in the state hospital, Ota ‘’due to the structure of that hospital and we plead with the state government to re-design the hospital which is one of the oldest in the state. He also stated that infrastructures in the hospital and the road network within the hospital were so poor. ‘“This strategically located hospital should be upgraded to meet the status befitting of commercial capital of Ogun state.’’

Food scarcity looms in Nigeria, says Agric expert

Marley said the country should brace up for possible food scarcity as the unending flooding would affect food production. The river basin authority boss pointed out that the volume of water associated with flood was inimical to crop production, insisting that except the water in the submerged farmlands rescind quickly; especially in places where cereals were grown in the northern region (cereals have low water tolerance), the country might experience food scarcity next year. “There is no doubting the fact that flooding is a threat to the food security programme of the Federal Government. The development may lead to food scarcity next year.”

2012 Hajj: Group berates LG chairman

•The late Obioha

‘’We as an Association are worried that our members and other medical personnel are being humiliated by people while performing their official duties. This has to stop, because we cannot be working in the hospitals and be watching over our back or wearing a camouflage’’. He canvassed that security within and outside the hospitals in the state should be beefed up ‘’and armed security personnel should be deployed in all hospital in the state to prevent future occurrence.

group, Muslim Youths Progressive Union (MYPG) has condemned the manner the 2012 hajj slots given to the Agege Local Government were distributed among people within the council areas. The aggrieved group said in a press statement issued yesterday that the council

chairman, Jubreel Ayodeji Abdulkareem should learn how to do justice in the distribution of hajj slots given to the council by the Lagos State Government. The group alleged that no single slot was given to Agege Central Mosque the pioneer mosque in the area,. “The council chairman has

been giving the slots to nonpractising Muslims, who do not know the five pillars of Islam,” the group alleged. It, however, advised those performing this year hajj, to abide by the rules of the Saudi Arabian authorities and shun anything that could tarnish the image of the country.

Marley said that flooding in the northern region where most of the nation’s cereals were being cultivated was a bad omen for food production as most cereals were not water tolerant. “Except for rice that is highly tolerant to water, other cereals are not. Horticulture corps and other food corps in flood affected areas are being lost and these will cause the country big problem in food production next year because it may take long for the water to rescind.” The River Basin helmsman blamed the devastating effect of flood this year especially in the northern states of the country on fragrant flouting of town planning regulations. “Most town planning regulations are being flouted, in the name of development. People build houses, shops and parks on water ways and whatever happens, water must find its way out and find its level and whatever is on its way becomes a victim as such obstacles are washed away by the flood.” He pointed out that the devastation was more pronounced this year because of the flash flooding experienced in some states in the region.

DAILY SUN Monday, September 24, 2012, 9

SOUTH SOUTH Delta judge kidnap: Rita-Olori rubbishes apology, insists on probe By OLA AGBAJE

rontline women leader and industrialist, Chief Rita Olori Ogbebor has rubbished the reported apology of the Delta State Government to the judges in the state over the kidnapping of a judge. Reacting to the apology in a statement issued in Lagos at the weekend entitled: “ Re: Kidnap of a judge in Delta State: a call for probe’, Chief Ogbebor insisted that apology to the kidnapped judge and his colleagues in the state judiciary is totally out of question as only a diligent probe of the incident would be acceptable. According to the Igba of Warri: “ An assault on a judge anywhere in the country is an assault on the Judiciary of the nation and the entire administration of justice system. “Kidnapping of a judge is not a matter that could be swept under the carpet by an apology from a top government official. “The court is the last hope of everybody and therefore, it is the tap root of the existence of the society. Our judges cannot and should be allowed to work under intimidation, harassment and constant threat. “Their oath of office as expected of them; to dispense justice without fear or favour, as an impartial umpire, then the environment in which they operate must guarantee not only their welfare but also their security. “This is why I am insisting, just like every right thinking Nigerian that only a diligent probe of the ugly incident by the authorities and institutions that I have sent my petition to will suffice,” she said. Chief Ogbebor argued that the case of a judge kidnapped on a day he was to deliver a ruling on a motion for injunction to restrain the government should be of interest to all lovers of justice.

Stolen communion: Catholics re-dedicate church in Delta From PAUL OSUYI, Asaba

t. John Catholic Church in Illah, Oshimili North Local Government Area of Delta State, which hoodlums broke into last month, was at the weekend re-dedicated by the Bishop of Issele-Uku Diocese, Most Rev. (Dr.) Michael Elue. Unknown persons had broken into the sacred place of worship, invading the tabernacle where they removed sacred items including chalice containing the Blessed Sacrament (Holy Communion), light signifying the presence of Jesus Christ and monstrance used for the exposition of the Blessed Sacrament. The invaders who also broke into the sacristy, made away with ciborium, candle stands, a book called sacrament, the Catholic Missal for the celebrating masses, said to have been recently purchased. Following the theft, which the worshippers described as desecration of the temple, the church was closed down, while spiritual activities including mass and benediction were conducted at the church hall. Besides, the leadership of the church declared a week of reparation prayers in all the churches of the Diocese as a step towards cleansing the defiled sacred place and asking for forgiveness for the hoodlums. A worshipper yesterday told Daily Sun that the stolen items were not recovered, adding that an anonymous donor provided the “sacred items, which the Bishop came to bless and re-dedicate on Friday.”

• Former Rivers State governor, Sir Celestine Omehia, his successor Chibuike Rotimi Amaechi as Archbishop Ignatius Kattey (right) attempts to reconcile them at the thanksgiving service for Nigeria Bar Association President Okechukwu Wali (SAN) in Port Harcourt, yesterday.

Cleric reconciles Amaechi, Omehia at NBA president’s thanksgiving service T he Archbishop, Province of Niger Delta and Bishop of the Diocese of Niger Delta North, Most Reverend Ignatius C. O. Kattey made a bold attempt to reconcile Rivers State Governor, Chibuike Rotimi Amaechi and the former governor Celestine Omehia, who happens to be a cousin of Governor Amaechi. Kattey made the reconciliation move during a thanksgiving service held in honour of the new National President of the Nigeria Bar Association, NBA, Okechukwu Wali, SAN, held at the Diocese of Niger Delta North, Akpor Archdeaconry, Church of Pentecost, Rumualogu in Port Harcourt on Sunday. He charged them to see themselves as brothers and forgive one another, and reconcile before God. “Today, I charge two of you, Amaechi and Omehia to

see yourselves as brothers, forgive one another and reconcile before God”, he said. During his sermon, Kattey urged Governor Amaechi to ensure that all on-going projects in the state are completed before the expiration of his tenure, including the ongoing Monorail project. The cleric also reminded Governor Amaechi to tackle the incessant killings of Christians in the North, urging him to intervene as Chairman of the Nigerian Governor’s Forum, and bring lasting peace between

Christians and Muslims in the country. On his part, the Rivers State Governor, Chibuike Rotimi Amaechi said, he had no choice but to reconcile with Omehia. The State Chief Executive also congratulated Okechukwu Wali on his election as the President of the Nigeria Bar Association, and assured him of the support of the Rivers State Government. Governor Amaechi also said that his administration would complete the Monorail project before the end of

Gunmen abduct Delta Assembly member’s wife KINGS, State, Mrs. Campaign Preyor last Saturday night in Kpakiama Town, Bomadi unmen have abducted Council Area of the state. The gunmen were yet to the wife of the House of Assembly member open a channel of communirepresenting Bomadi Local cation to ascertain the reason Government Area of Delta behind the abduction of Mrs. Preyor.

From KOFA Ughelli

Silver jubilee: Akpabio Panic as JTF deploys troops, gunboats Bayelsa community congratulates A’Ibom to From FEMI FOLARANMI, refineries and bunkering in imminent clash between oil

overnor Godswill Akpabio has appealed to Akwa Ibom people to pray for peace and security of Nigeria. Governor Akpabio, who made the appeal yesterday in a radio and television broadcast to the people on occasion marking the 25th creation anniversary of the state, prayed that the celebration would usher into the state, love, peace and unity. He congratulated the people on the silver jubilee celebration of the state creation, saying: ‘’Indeed, God has turned our captivity into joy. A once pedestrian state has become a choice destination for national and international conferences.” The governor remarked: ‘’This silver jubilee is, therefore, a time to look back and thank every person who contributed to the success story that sums up the Akwa Ibom of today. It is time to pay tribute to our founding fathers, who had the vision for this state. “It is time for us to appreciate our past leaders or their contributions to the development of our state. Let us also appreciate the traditional institutions, the public and private sectors, and indeed, all Akwa Ibom people who laboured to make our dear state what it is today.’’

Yenagoa

here was panic in Igbomotoro, Southern Ijaw Local Government Area of Bayelsa State over the deployment of troops and gunboats to the waterways by the Joint Military Task Force (JTF), ‘Operation Pulo Shield.’ This was even, as a bloody clash was averted at Ekeremor Local Government Area between some community youths on a protest against Shell Petroleum Development Company (SPDC) and security operatives. The action of the JTF, sources said, was to arrest the rising cases of illegal oil

2014, stating that the state government had completed all internal roads in Port Harcourt Township, and had earmarked about seven billion naira to maintain all roads in D/line, Diobu and Borokiri axis of Port Harcourt. Amaechi also expressed the commitment of his administration to set up an Economic Development Agency by 2013, that would give loans to Rivers State natives, to invest and create employment opportunities for the unemployed in the state.

Igbomotoro. According to sources, Igbomotoro was notorious for illegal oil refinery backed by powerful people and it had been a source of worry to the authorities of the JTF. In the two-day raid carried out at the weekend and led by Major Augustine Obochi, 18 illegal oil refineries were destroyed, while 29 Cotonou boats were also destroyed. The JTF operation had triggered fears with leaders of the community planning to send a Save our Soul (SoS) message to the state government and the defence headquarters, while some people were already relocating over the

bunkerers and the soldiers. But the JTF said it would not back down in its current operation, as it had the mandate to secure Nigeria oil industry. JTF Media Coordinator, Lt. Colonel, Onyema Nwachukwu in a statement confirmed the deployment, he said the operation would continue until illegal oil bunkerers were sent packing from the area. He assured the people that there was no cause for alarm, as the JTF operation was targeted at those whose stock in trade was to steal Nigeria crude oil and destroy the ecology of the Niger Delta through their illegal activities.

An eyewitness who does not want his name in print said the kidnappers struck at about 11:00 p.m and were fully armed with the purpose of abducting Kenneth O. Preyor, the House of Assembly member, who usually spent his weekend in his home town. But was absent when the abductors came calling, but they whisked his wife in getaway speedboat away. The Delta State Police Public Relations Officer, Mr. Charles Muka confirmed the incident, saying the abductors had not opened any channel of communication demanded no ransom yet. Muka disclosed that kidnapping was at the lowest ebb in the state, vowing that the command would follow the development to the latter. ”This is an exceptional case and we would ensure that no ransom will be paid and those behind the kidnapping are brought to book. As at the time of filling this report, efforts to contact Mr. Kenneth O. Preyor for comment were abortive as his phones were switched off.

10, DAILY SUN Monday, September 24, 2012

SOUTH EAST Man killed in Aba over woman From OKEY SAMPSON, Aba

man, has been killed in a village near Aba for allegedly going after the girl friend of one of his assailants.

The man, Stanley Coker, 50, who hailed from Opobo town in Rivers State and said to be working in a company in, Aba, Daily Sun gathered, was returning from work last Thursday evening but decided to visit a bar popularly known as Madam Ngozi Joint near his home at Umule, Osusu Amaukwa in Obingwa Local Government to have a drink. But unknown to him, death was lurking by the side. As he entered the local bar and before he could settle down to order for his drinks, three young men who were said to be members of the community accosted him. After some exchange of words which a source said was centred on a woman, the three young men reportedly engaged Coker in a fight. In the cause of the fight, the men who are now on the run inflicted machete cuts on Coker’s head and he died instantly. Coker’s assailants were said to have made sure that he died before they fled. They chased away anybody who wanted to come to the deceased’s aid. As the deceased, a father of seven did not return home that night, his wife, Ngozi, thought that he travelled out of the city with his boss and perhaps he would come back the following day. But the following morning, she received the news that her husband’s corpse was lying at the Osusu Amaukwa axis of the Aba-Umuahia old highway (Ururuka Road) and the woman immediately alerted the traditional ruler of the community, HRH (Eze) Sunday Godwin Ikonne who in turn informed the police at Umuobiakwa police division. The police immediately arrested some people leaving within the vicinity Coker was murdered and the owner of the bar where the deceased went to drink before he was killed. When Daily Sun correspondent visited the home of the deceased at Umule, Osusu Amaukwa, the wife and children were in pensive mood as sympathizers trooped in to console the family. The traditional ruler of the community Eze Ikonne who regretted the tragedy said it was the first time such would happen in the area and urged the police to fish out the perpetrators. Coker’s wife while also urging the police to unmask the people that killed her husband, appealed to the Abia State Government to come to her aid to be able to train the seven children he left behind.

Lack of mapping, bane of Anambra oil controversy –OMF By PETER ANOSIKE

hanaeze Media Forum (OMF) has attributed the controversy over the ownership of the land where oil was discovered in Anambra State to lack of mapping. Rising from a crucial national executive meeting in Lagos, the forum noted in a communiqué that the National Boundary Commission (NBC) should ensure that boundaries among states and local government councils in Nigeria are properly delineated to avoid such controversies. It also called on the commission to step into the Anambra oil matter and ensure quick resolution before it would degenerate into violence among the contending communities. The forum also noted that great care should be taken by the community leaders to ensure that peace reigned while the commission went about its duties. They warned that evil-minded politicians and opportunists might be strategising to perpetrate their evil wishes under the guise of championing the course of their people, adding that the traditional rulers should ensure they did not play into their hands. “It is a sad development that something like oil that should be a source of joy for these communities that have co-existed peacefully for centuries could deteriorate to this war of words being championed by some politicians with evil motives. Some evil-minded politicians have been lending their voices to unnecessarily heat up the polity in order to perpetrate violence. “The people of Aguleri in Anambra State, Ibaji in Kogi State and Uzo Uwani in Enugu State have been relating well in the past and must not allow themselves to be used at this point by the evil elements that can go to any extent to achieve their evil purpose by fomenting trouble. Violence will only leave the society, especially the youths who are most vulnerable worse off,” the communiqué read in part. The forum, however, recommended dialogue and active involvement of the NBC in resolving the seeming imbroglio. “It is not in the interest of Nigeria that such a laudable investment in a key sector by the private efforts could be so scandalized.” OMF has members drawn from media houses (print, broadcast and online) in Nigeria, United States and the United Kingdom.

• Representative of Governor Sullivan Chime, the Chief of Staff, Government House, Enugu, Mrs Ifeoma Nwobodo flanked by the State Chairman of the Peoples Democratic Party, Engr. Vita Abba, Managing Director of the Accolade media team and one ot the co-ordinators of Enugu State Cultural and Tourism Fiesta, Mrs Ginika Tor and the Commissioner for Culture and Tourism, Ozo Joe Mmamel, Commissioner for Education, Dr Simon Ortuanya, SPA to the Governor on MDGs, Mr Okezie Nwanjoku, while cutting the tape to unveil the Enugu Cultural and Tourism Fiesta 2012 secretariat at the weekend.

3 dead, thousands displaced as flood ravages Ebonyi communities OSUJI, merged in the flood, cutting her off from its neighbours which forced the natives to bonyi State is not spared use canoe to convey children from the flood disaster to school in the area. Over 40 houses were subthat have ravaged many communities in the country merged in the flood with as three persons were feared some of them collapsing dead with thousands of others while properties and crops displaced after a severe flood- worth millions of naira were ing ravaged over 30 villages lost in the disaster. A prelimiacross five development cen- nary report from the State Management tres in Izzi Local Government Emergency SEMA, and Area of Ebonyi State over the Agency, weekend. Only a body of the three persons confirmed drowned had been found while the villagers are still searching for the other two. Daily Sun gathered that the he Obi of Onitsha, incident which also destroyed Alfred Nnaemeka farmlands and houses Achebe (CFR), has occurred when a river along described the National Award the boundary between the Ebonyi and Cross River State of Grand Commander of the overflowed its banks due to Niger (GCON), conferred on the Chairman of Globacom, severe rainfall in the area. The Executive Secretary, Dr. Mike Adenuga as an honEbonyi State Emergency our well deserved. The Obi who made the Management Agency, Igboke Umunna who confirmed the remark in Onitsha on Friday death of the victims during a while receiving the cheque joint assessment tour of the for the sponsorship of the affected areas with the 2012 Ofala festival from National Emergency Globacom officials led by the Divisional Management Agency, company’s Director, South-east, Mr. NEMA explained that the body of one of the victims Michael Ehumadu, said that had been recovered while the Dr. Adenuga, had done a lot other two were yet to be for the nation and deserved to found. He lamented that the be honoured. The traditional ruler, while situation had forced the peocommending Globacom for ple to take refuge in neightaking the ancient Ofala festibouring communities. The affected development val to the next level through centres include Igbeagu, its sponsorship last year, Ebiya, Izzi, Ominyi and noted that the giant telecomNnodo Development Centres munication outfit would be all in Izzi Local Government remembered for the transforArea while one of the com- mational history of Onitsha munities known as Nwolohzi and its environs. “I want to formally conhad been completely subgratulate Dr. Mike Adenuga From GODDY Abakaliki

National Emergency Management Agency, NEMA, shows that about 17 villages were severely affected in the area. Speaking to newsmen yesterday in Abakaliki, a council chairman, Hon Dustan Nwogbaga explained that the flood caught a lot of people in the area unawares while stating that the communities were now facing hard times as a result of the flooding.

“Our crops, houses, property have all been destroyed, I am appealing to the state Emergency Management Agency and National Management Agency to come to the aid of the victims of the disaster who are predominantly farmers who have lost virtually all their farm produce including livestock to the disaster, they should help them to get back on their feet,” he stated.

Obi of Onitsha congratulates Adenuga as Ofala Festival kicks off

on the National Award of GCON conferred on him by the president. Dr. Adenuga has done quite a lot for this country and the honour is well deserved,” he said, adding that, “it is good that the private sector is being recognised and honoured by the nation.” The monarch added that the 2012 Ofala festival would be bigger as it would mark his 10th coronation anniversary as the Obi of Onitsha, pointing out that Globacom had contributed to making the Ofala festival witness great transformation. “We are happy that Globacom is partnering with us. Our intention is to anchor Onitsha on the map of culture in Nigeria. Onitsha is transforming and Globacom is part of that transformation,” he eulogised. Presenting the cheque to the traditional ruler on behalf of Globacom, Ehumadu said the company would make the 2012 edition of the festival “more colourful and excep-

tional to celebrate the Obi on the 10th year on the throne of his forefathers and to appreciate the Obi and the people of Onitsha for their support and faith in Globacom.” He noted that Globacom would introduce some innovations in this year’s festival. The 2012 Ofala festival kicked off formally with the Iwaji, New Yam Festival, on September 23 and would be rounded off on October 8 with the commissioning by Governor Peter Obi, the block of classrooms built by Globacom at the Metropolitan Secondary School, Onitsha. Other activities lined up for the festival include youth rally, seminars, health awareness campaigns, novelty football match and a royal banquet in honour of the Obi by the telecommunication company. Globacom, in 2011, signed a Memorandum of Understanding (MOU) with the palace of the Obi of Onitsha to sponsor the Ofala Festival for a period of three years.

DAILY SUN Monday, September 24, 2012, 11

SOUTH WEST Aide blasts ex-Senate leader over comment on Ajimobi

pecial Adviser to the Oyo State Governor on Millennium Development Goals (MDGs), Mr. Taiwo Fawole, has faulted former Senate leader, Teslim Folarin, on his uncomplimentary remarks on the administration of Governor Abiola Ajimobi, describing the attack as a mere ranting from an unpopular politician. Fawole maintained that the administration of Ajimobi has alleviated the suffering of the masses as well as repositioned the state. He made reference to the employment of 20,000 youths into various government ministries, parastatals and agencies as well as local government areas in state. He said the employment of the youths had reduced the high level of unemployment in the state, stressing that plans were underway to employ more people into the state’s civil service. According to him, the Action Congress of Nigeria (ACN) government in the state had continued to be an harbinger of steady progress and development while lambasting Folarin for running down an administration “that is poised to take the state to its zenith in progress and development.” Fawole averred that under the prevailing peace and orderliness in the state, the people had been able to pursue their lawful duties and businesses without molestation, saying, “I am amazed that the former Senate leader stabbed the truth in the head when the eight years administration of the Peoples Democratic Party (PDP) only succeeded in plunging the state into the cesspit of decadenece and rot.” He said the basic essence of any responsive and responsible government should be the welfare of the citizens and not mere noise, making as well as amassing wealth with reckless abandonment.

Strike paralyses activities at OAUTH From BAMIGBOLA GBOLAGUNTE, Osogbo

edical and non-medical activities have been grounded at the Obafemi Awolowo University Teaching Hospital (OAUTH), Ile-Ife, Osun State, following the strike embarked upon by all categories of workers in the institution. The development has made relatives of patients receiving treatment at the hospital to withdraw them, as medical care was no longer being given to them by medical officers of the hospital. The strike, according to a reliable source, also paralysed administrative duties in the hospital as only junior administrative staffers were available to attend to administrative matters. The strike, according to some members of staff of the institution who volunteered information to Daily Sun, was to press home the demand of workers for improved working condition and implementation of their last promotion. It was gathered that some staff of the hospital who were promoted last year were yet to enjoy the benefits of their promotion, hence the resolve of all the unions in the hospital to embark on strike. It was learnt that the decision to go on strike was reached at an emergency congress of all the unions in the hospital held last Wednesday after all efforts to convince the management to align to their plea had failed. Many of the hospital staffers were seen at the premises of the hospital when Daily Sun visited it yesterday waiting for directives from leaders of their unions.

Lagos traffic law dates back to 1949 –Ibirogba By RAZAQ BAMIDELE

agos State Commissioner for Information and Strategy, Lateef Aderemi Ibirogba, has said “the traffic law presently in operation in the state is not new,” saying “it dates back from 1949 even when the population in the state was very scanty.” The commissioner told Daily Sun in an interview that “what we did was to bring the old law to the fore in line with the present reality,” wondering “if the law was enacted when there were no people in Lagos in 1949, what would make it strange 63 years later when it was brushed up to conform with the present reality when the state has atleast 20 million people as residents with over two million vehicles on the road!” He said the brushing up of the law was just about collating the scattered pieces here and there. According to him, nobody thought in 1949 that, “Okada would become a means of transport and so, could not have been accommodated in the law then.” Other offences like dangerous driving and breastfeeding while behind the wheel, the commissioner said, had been part and parcel of the law since 1949, asserting that “basically, there is nothing new in the Lagos traffic law as currently signed by Governor Babatunde Fashola.”

• L-R: Ekiti State Governor, Dr Kayode Fayemi, Chairman State Council of Obas, Oba Gbadebo Adedeji and Chairman Ekiti State and Community Development Agency, EKSCDA, Chief Ibidapo Awojolu, during the distribution and presentation of cheques for community development projects to 26 communities in the state at the weekend.

NURTW extends Oyo caretakers’ tenure From TOYESE OLADEJO, stitution.” Ibadan It, therefore, warned the committee not to act beyond he national leadership of the ambit of the union’s conthe National Union of stitution and strict compliRoad Transport Workers ance with the terms of its ref(NURTW), has extended the erence. tenure of the Oyo State Commenting on the issue, Caretaker Committee of the the Senior Assistant General union by another three Secretary attached to the months. state, Akin James, averred The union, in a letter enti- that the national body of the tled, “Extension of Tenure of union had no choice than to Caretaker Committee of extend the date, stating that, NURTW” with number “the union cannot afford to NURTW/NHO/A15/VOL51 conduct any election now that 24 and signed by its Acting National Secretary, Clement Wetkur (JP), said “the committee has not accomplished its terms of reference as outlined in your appointment letter.” It revealed that the exten- From TUNDE RAHEEM sion of tenure was necessitat- Akure ed by the various litigations in ouths, under the aegis the state chapter of the union: of Youth Coordinated “The rationale behind this Campaign (YCC) over extension was to give room for legal action(s) militating the weekend called on the against the preparation of the politicians in Ondo State to reconstitution of the state embark on issues-based camcouncil in line with relevant paigns rather than engaging provisions of the union’s con- in derogatory words capable

there are so many daunting challenges on the neck of the union,” adding that the committee had been able to sustain peace among members. He disclosed that over 15,000 members of the union had been duly registered in the state, stressing that a monitoring committee to enforce sanity in the various motor parks had been inaugurated. James said the union “was purely a professional body and not interested in partisan politics,” wondering why

some mischievous elements were insinuating that the state government was backing the committee at the expense of Alhaji Lateef Akinsola, aka Tokyo. He insisted that Tokyo had not been reinstated as the chairman of the union, adding that the case would come up on October 17, at the National Industrial Court (NIC). James asked members of the union to embrace peace and avoid acts that could drag the union in the mud.

Ondo youths urge politicians to imbibe issues-based campaign

of instigating violence during the on going political rallies The coordinator of the group, Idris Usman, who addressed a large crowd of youths from the Central Senatorial District of the state that gathered at a rally at Ilesa Garage area of Akure, the state capital at the weekend, told the youths to use their

Ex-minister preaches peace, harmony in Ogun PDP From MOSHOOD ADE- elections. His words: “As we jostle BAYO, Abeokuta for the control of the party rked by the intra-crisis with- structure, we must appreciate in the Peoples Democratic that no group can do it alone. Party (PDP) in Ogun State, Nobody wins elections with a former minister of Mines and divided party, a lesson already Steel Development, Alhaji learnt in April 2011 general Sarafa Tunji Isola has urged elections.” Sarafa, who said reconciliathe hierarchy and leaders of the party in the state to tion and internal democracy embrace dialogue in the inter- were sine qua non for the electoral victory of PDP in est of the party. Isola, who was also secre- Ogun State, appealed to memtary to the state government bers of the party to resolve the under the erstwhile adminis- intra-party conflicts in the tration of Otunba Gbenga party. While urging PDP leaders Daniel lamented that bickering, factionalisation of the and members in the state to party caused its dismal per- bury the hatchet in the interest formance in the last general of the party, Isola said, “we elections as well as during the need to forgive, respect and July 21 local government appreciate each other.

“We need to support the elders and leaders of the party as they embark on reconciliation and resolution of identified conflicts.” The ex-minister who described the electorate in the state as highly politically conscious noted that the current message to the party was to resolve its differences. “As democrats, we must be sensitive to their wishes and yearnings. Enough of bickering. Let us heed their calls by resolving the intra-party conflicts in our party in the state. In togetherness we won elections in year 2003 and year 2007, let us come together to win elections in year 2015 or else posterity will not forgive us,” he stated.

over 400,000 voting population to draw the attention of political parties and their candidates to their plights during electioneering campaigns. The youth coordinator frowned at the style of campaign employed by candidates contesting the election, stressing that the campaign so far was more of personality attack and character assassination of presumed opponents, political enemies and opposition parties. Usman said “We the youth of this state must stand up now and demand for our rights from the political players. Let them tell us what they want to do for us in the area of our education, quantitative one for that matter, and more importantly, the prevailing unemployment rate among the youth of the state. “We’re tired of hearing that the state will be ruled from Lagos or that someone will be ‘Ajele’ to (Bola) Tinubu in Lagos. Let them tell us how they’re going to improve on our education, living conditions and how several of our graduates roaming the streets would be gainfully employed.”

12 DAILY SUN Monday, September 24, 2012

ONDO GUBER POLL COUNTDOWN Mimiko assures on revival of ailing industries From TUNDE RAHEEM, Akure

ndo State Governor, Dr. Olusegun Mimiko at the weekend assured Ondo people of his determination to revive the ailing industries and establish more, to provide jobs for the people and boost the state economy. Mimiko who was in Ose Local Government Area of the state in continuation of his re-election campaign for the October 20 governorship election assured the people of the area of his government’s readiness to resuscitate the Ifon Ceramic Industry, which had become comatose. Mimiko disclosed that steps had been taken to revive the moribund industry, he noted that foreign technical partners had been brought and works were on, adding that the company would soon come on stream as soon as constant electricity supply to the company was provided. He equally assured that there would be establishment of more industries in the state that would take youths off the streets in his second term in office, adding that already, all that were required to make this a reality had been done in the last three and a half years since he assumed office. While assuring that the resources of the state would be evenly distributed for the development of the entire state, the governor vowed not to be held down by any godfather who would dictate to his government thereby truncating the rapid development which the state had enjoyed in the last three and a half years. He disclosed that plans had reached advanced stage towards the rehabilitation of water dams all over the state that would make water available to the people. The governor who expressed optimism of a victory in the

ANPP chieftain sues for peace in Ondo From DAVID MOLOMO, Yola

he 2007 governorship candidate of the All Nigeria Peoples Party, (ANPP) in Ondo State, Professor Ebenezer Ibukun Arifalo has charged politicians to eschew politics of bitterness and embrace politics of issues that would ensure socio economic development in Ondo State and Nigeria at large. Arifalo appealed to the political class that had fielded candidates for the forthcoming governorship election in the state to eschew violence, but play politics based on ideology and what they can offer the electorate to improve their condition of living. Arifalo, who fielded questions from Daily Sun in Yola, Adamawa State, said politics of destruction was archaic and that all hands must be on deck to harness the rich human and material resources for the development of the state. Arifalo advised the political class in to be sensitive to the yearnings of the people. The former ANPP governorship candidate appealed to the opposition parties to address issues and not to describe the achievements recorded by the Labour Party controlled Mimiko government as cosmetic. He said Mimiko-led government had demonstrated great degree of commitment to service and should be supported irrespective of their political leaning and inclination.

People assure Mimiko of re-election From TUNDE RAHEEM, Akure

ndo State Governor, Dr Olusegun Mimiko at the weekend received the commendations of the people of Owo communities for the projects, which his administration had establish in the local government area, with an assurance that they would vote for him en-masse in the forthcoming governorship election next month. Mimiko who led his campaign train to Owo Local Government had paid a courtesy call on the Oloba of Uso and was received by the Regent of the town, Mrs. Adekemi Oladejogun, who described Governor Mimiko as a pragmatic and kind hearted governor, whose developmental programmes had transformed the lives of the people of the state. According to the regent, the community would always be grateful to the governor for the construction of a town hall and doctors’ lodge for the doctors working in their Health Centres and Hospital. She, therefore, assured the governor of the readiness of her people to vote for the Labour Party in the forthcoming election. She appealed for the provision of modern market and construction of the abandoned Uso-EmureEkiti-Akoko Road to link the community with their neighbouring Ekiti State and Akoko people. The governor who later addressed a rally in the town enumerated the achievements of his administration in the area which he said include construction of bore holes, a town hall, doctors’ lodge, health centres at Asolo, Amurin, Sojayan and an ultra modern school equipped with electricity generating set at Odofin Fadimine, all in Uso Local Government.

• Scene of an accident at Palmgrove Bus Stop on Ikorodu Road in Lagos yesterday

Presidency, stakeholders chart way for free, fair polls By CHIDI OBINECHE

olitical party executives, governorship candidates, and other stakeholders, converged on Akure, Ondo State on last Friday to deliberate on how to provide conducive atmosphere to ensure that the Ondo State governorship election scheduled for October 2012 is free, fair The workshop was chaired by former Chief of Defence Staff Lt. Gen. Alani Akinrinade (retd.) who in his opening remarks stressed the need for election to be credible. He also stated that political killings and violence were not only antithetical to democracy but satanic. The Convener of the workshop, Senator Ben Ndi Obi, Special Adviser to the President on Inter-Party Affairs stated that the objective was to come up with farreaching recommendations to ensure free and fair elections in the state. The Chairman, Independent National Electoral Commission (INEC), Professor Attahiru Jega, in his address urged all contestants and shareholders to adhere to the rules of the game and observe the 2010 Political Parties Code of Conduct, by shunning antidemocratic practices, such as intimidation of aspirants, to create enabling conditions for citizens to vote freely for their leaders. He stated that INEC was truly independent and not being interfered with from any quarters. The Keynote Speaker, Dr. Hakeem Baba-Ahmed, stated that the Ondo State governorship election would be a test case in the march of Nigeria to free and fair elections. He reminded participants that electoral contests and free and fair elections

were simply a matter of establishing trust between the people and governed and that this trust was a sine qua non for true democracy and for national development. There were goodwill messages from development partners, DGD-UNDP, Dr. Mourtada Deme, and Robina Namusisi the Country Director, International Republican Institute (IRI). The speakers, stakeholders and participants appreciated the workshop and its intentions. The governorship candidates and stakeholders pledged their unflinching commitment to the tenets of free and fair elections. In particular, all the governorship candidates and their political parties and supporters

pledged to eschew violence and extreme language in their campaigns. They urged INEC to be impartial in their conduct of the election and pledged their cooperation to ensure fairness so that the results would be acceptable to all. In the final analysis, it was resolved as follows: That participants believe in the sanctity of Nigeria as a nation. The participants reaffirmed that Nigeria was greater than individuals and transcends any political party. It was therefore resolved that the country and the welfare of the people should be the first consideration of all. That the will of the electorate would as expressed in

the Ondo governorship election must be respected by political parties and other relevant stakeholders; That political parties, politicians and all stakeholders should strive to promoted free and fair elections. Consequently there must be mutual respect and tolerance among political parties for a conducive electoral process. That the Media must playa profound role in the gubernatorial election through adequate and accurate coverage and avoid provocative reporting; The workshop was attended by executives and candidates of the 13 political parties contesting the Ondo State 2012 governorship election.

PDP berates Mimiko over plan to probe Agagu From TUNDE RAHEEM while he was in power and it is of essence to say that they Akure were all projects that were of eoples Democratic direct relevance to the lives Party in Ondo State at of the people and the party is the weekend said its proud of him. “It is equally important to attention has been drawn to a new plan by the Olusegun declare that our campaigns Mimiko-led administration have been greatly accentuatto institute a probe panel to ed by these achievements, investigate the Olusegun while the Mimiko campaigns have only given Agagu administration Agagu administration was excuses for his administrasacked by justice Abdullahi- tion’s inability to perform in led elections petition tribunal office. “We are not in any manner sitting in Benin almost four intimidated by this threat of years ago. According to a press state- probe, as Dr Agagu remains ment by the party’s Director confident that he did not soil of Publicity, Ayo Fadaka, the his hands while in office and ludicrous plan was caused is not scared by any attempt by the discomfort of govern- to smear his hard earned repment at the role Dr. utation. “The people of this state Olusegun Agagu is playing in the party’s campaign for have since appreciated the fact that the Agagu administhe next election. managed our “Today, Dr. Agagu is tration widely respected across the resources so effectively that state because of the many he even left N38 billion in legacies that his administra- the central account of the tion bequeathed to the state state and another N20billion

in the accounts of ministries, parastatals and agencies of government, a sum the Mimiko administration has not been able to account for till date. “Since the inauguration of this administration, it has made over N570billion and inspite of that, has plunged the state into debt, thereby making nonsense of the solvency status he inherited. It is a known fact that functionaries of the Mimiko administration have at various times been summoned by the EFCC for questioning on issues of corruption, the issue of the OSOPADEC Chairman, Debo Ajimuda is still in court while all the local government chairmen have at various times answered questions on how the finances of their councils are managed. “The deeds of this administration are visible to the people and will see it out of power.”

DAILY SUN Monday, September 24, 2012,13

AREWA

•Wreckage of the suicide bomber’s car at St. Jonh’s Catholic Church, Bauchi yesterday.

Kwara House to probe Bureau of Land From LAYI OLANREWAJU,Ilorin

he Kwara State House of Assembly is to probe the activities of the Bureau of Land since its inception to ensure transparency, accountability and correct the misconception about the operations of the Bureau. The Speaker, Kwara State House of Assembly, Mr Razak Atunwa gave this indication in Ilorin while reacting to a matter of urgent public importance raised by a member representing, Ilorin Constituency, Mr Saadu Yusuf Tanke over a widespread rumour that the state government had acquired and sold Ilorin Eid praying ground, Emir’s palace and the Ilorin Central Mosque. The Speaker equally directed the House Committee on Land and Housing to conduct a public hearing on the activities of the Bureau for members of the public to provide proves and relevant documents on the alleged sale of lands by the Bureau. Mr Atunwa then directed the Committee to submit its report by October 15, 2012. Contributing to the matter after the Majority Leader, Mr AbdulGaniyu Abdulkareem emphasized the need for the House to invite the Bureau for clarification in view of the sensitive nature of the matter, a member representing Ilorin Central Constituency, Mrs Segilola Jimoh said clearing the bush at the praying ground before the Eld Fitr sallah celebration should not be seen as an indication that the land had been sold by the Bureau of Land. She advised members of the public to always find out the truth before fabricating rumour capable of inciting the public against the government.

Over17,500 students to repeat classes in Niger secondary schools From AKIN ALOFETEKUN, Minna

o fewer than 17,550 students in post primary schools in Niger State are to repeat classes for failing the last promotion examination conducted by the state Ministry of Education. Commissioner for Education, Mrs Suzan Adshetu Gana, told journalists in Minna during a media parley that over 57,500 students were registered for the internal examinations out of whom about 40,000, representing 69 percent passed. This action of the state government has put a bite to government’s insistence on the abolition of automatic promotion in its schools. According to Gana, the intention of government was to ensure that only those that had the prospect to pass the public examinations conducted by the National Examinations Council (NECO), the West African Examinations Council (WAEC) were registered for the examinations. She explained that the state government was footing the bill for students in public schools for either NECO or WAEC while parents would be responsible for the other, saying that so far government had spent N440.4million on the exercise while parents paid N191.6 million. She said government changed its policy of paying for the registration of candidates sitting for the two public examinations because it discovered that parents were no longer serious with the monitoring of their wards while the candidates themselves showed nonchalant attitude to the examinations because government was footing the bill. Also present at the parley, the Director General, Export Promotion Council in Niger State, Alhaji Ahmed Mamman Kontagora disclosed that a Shea nut refinery would soon be established in the state as one of the ways of adding value to the commodity available in commercial quantity in the state.

• Injured victims of St. John’s Catholic Church, Bauchi yesterday. Photos:NAN

Kogi floods: 3 boats deployed to rescue trapped victims T

he Nigeria Red Cross Society said yesterday that it has deployed three boats to the riverine areas of Ibaji Local Government Council of Kogi to rescue trapped flood victims taking refuge on treetops. Mr. Mustafa Allah-Dey, the chairman of the state branch of the society, told the News Agency of Nigeria (NAN) in Lokoja that the National Inland Waterways Authority (NIWA) released the boats for the rescue operation. Allah-Dey said men of the Nigerian Navy and officials of National Emergency Management Agency (NEMA), State Emergency Management Agency (SEMA) and the state Ministry of Environment were also involved in the operation, adding that many of the victims were said to be in life threatening situations. He said the people should be blamed for their present predicament, adding that they failed to heed several warnings to quit their houses to avoid being trapped. The chairman said he did not have the figure of exact number of people trapped and that no report of casualties had been received as at the time of this report. He only described the situation in Ibaji as “very terrible.”

Meanwhile, the traffic gridlock on Lokoja-Abuja Road has become more chaotic with vehicles forming long queues on both sides of the road. The queue at the Lokoja end of the road had extended to Obajana village, about 15 km drive to the Lokoja city

centre. Mr. Isaac Martins, the head of operations of the state Sector Command of the Federal Road Safety Corps (FRSC), who confirmed this to NAN, said there was not much the commission could do to help the situation. He said the problem was

2015: Buhari, Bafarawa express worry over disunity in North From NOAH Kaduna

EBIJE, tions from newsmen shortly after a closed-door meeting with Buhari said his visit was ormer head of state, not based on political collabGeneral Muhammadu oration, but to impress on Buhari and ex-governor concerned northerners to of Sokoto State, Alhaji ensure unity among diverse Attahiru Bafarawa have people of the region. Though, General Buhari, expressed concern over political disunity among the peo- who is the presidential candiple of the North towards 2015 date of the Congress for Progressive Change (CPC), general elections. Bafarawa, who visited refused to entertain questions Buhari at the weekend in his from newsmen, he simply Kaduna home said the North said, “I am in agreement with was politically in disarray and whatever Bafarawa has said.” Bafarawa said, “I didn’t as such there was urgent need to campaign for unity among come as a member of ANPP the people irrespective of to visit General Buhari and I political differences to did not come to see him on achieve common political the ground of his own party, Congress for Progressive direction. The former governor, who Change (CPC), I came to him is a member of the Board of to discuss, to chart the way Trustees (BOT) of All forward on how we can unite Nigeria Peoples Party ourselves in the North (ANPP), while fielding ques- because the North is in disar-

Yoruba leader marks 6th year coronation in Sokoto From TUNDE OMOLEHIN, Sokoto

embers of Yoruba community in Sokoto State at the weekend celebrated the sixth year coronation anniversary of their traditional head, Alhaji Ishaq Olasunkanmi Usman, as the Sarkin Yorubawa of Sokoto and the launch of the 2012 edition of their almanac. The occasion had in attendance the representatives of the state Governor, Alhaji

particularly with the small cars, adding that it took officials and youths assisting them an average of 20 minutes to help a car out of the water. “Vehicles are moving but they are moving slowly, that is just the situation at hand now,’’ Martins said.

Aliyu Magatakarda Wamakko, the Sultan of Sokoto, Alhaji Sa’ad Abubakar III and the Deputy Governor of Kebbi State, Alhaji Ibrahim Aliyu among other dignitaries. Speaking on the occasion, Governor Wamakko said his government was committed to recognise all segments of the society in implementing policies that had direct impact on them irrespective of tribal differences. Wamakko, who was represented by the Permanent

Secretary in the Ministry of Education, Alhaji Bello Gwiwa also said the state government was determined to protect lives and property of every citizenry and called on the people of the state to continue living in harmony. In his keynote address, Olasunkanmi Usman expressed his gratitude to the state governor as well as the Sultan of Sokoto, Alhaji Sa’ad Abubakar III for their support in maintaining peace and coexistence across ethnic lines in the state.

ray, therefore we need to unite since we are masters of all trade when you talk of political activities in the North. “All the political parties in the country can be found in the North, therefore we have to concentrate and put our house in order. That is why I have come to see my brother, General Buhari on how we can unite ourselves before we even talk of political parties. I came to see General Buhari as a senior brother and partner in progress, to move the Northern region forward. “I think there is solution to our disunity in the North because before now, discussions towards achieving unity has been based on political parties, but now I came to visit Buhari on personal ground to discuss the way forward for our people in the North. “Our strategy is that we will take our time, plan things and see how we can come out with the way forward. And like I said, I have come to see him, so I will not tell you the further strategy we will take, but this visit is a step forward. “What we are looking out for now is unity, we are not talking of CPC, ANPP or any other political party. All we are after is to see that the North is united. “I think everybody is going to drop his political ambition for now until the time comes because what is most important now is our unity.

14,

DAILY SUN Monday, September 24, 2012

Foreign Affairs Odd World Man with world’s largest biceps muscles his way into Guinness books

he man with the biggest biceps and the world’s tallest dog are some of the entries in the latest book of world records. In the Guinness 57th book of records are the world’s oldest gymnast and the shortest bull. The human-achievements section reveals the oldest gymnast to be 86-year-old Johanna Quaas, a retired German PE teacher. Moustafa Ismail has the world’s largest biceps and triceps, a total circumference of 25.5in (64.8cm). Mr Ismail, who lives in Franklin, Massachusetts, has arms with a circumference greater than the average human head. The 24-year-old, originally from Alexandria, Egypt, hopes his record-breaking status will help him in his quest to become a professional bodybuilder. Professional sumo wrestler Sharran Alexander, from London, is named the world’s heaviest sportswoman, weighing in at 32st (203.21kg). The animal section includes Archie, a 29-month-old Dexter bull who measures just 76.2cm (30in) from hoof to withers. Farmer’s son Ryan Lavery, 15, bought Archie at five months old and admits the bull’s fate would have been different if he had been of a normal stature. Ryan said: “When we bought Archie, he was destined for beef.

• Dawn

• David Viens

American kills wife, cooks body for 4 days A

n American chef on trial for his wife’s murder told police he cooked her body for four days until there was little but her skull left. David Viens, who denies murdering his wife Dawn, said he put her corpse in a drum of boiling water and weighed it down. In his statements, which were played to Los Angeles Superior Court, he recounted how he then mixed the remains with other waste and dumped it in a grease pit at his restaurant. He threw away the rest with the rubbish, keeping only his wife’s skull which he hid in his mother’s attic, according to the recording. “I just slowly cooked it and I ended up cooking her for four days,” he was heard saying on the tape. Police later searched the house but found nothing. They also investigated his restaurant in Lomita but failed to find any evidence. Mrs Viens, 39, vanished in late 2009 and her body was never found. Viens learned he was a suspect in the disappearance in 2011 and leapt from an 80ft cliff in Rancho Palos Verdes. He survived the plunge and was interviewed by detectives while in his hospital bed in March 2011. His injuries from the fall have left him in a wheelchair. On the recording, Sheriff’s Sergeant Richard Garcia asked Viens what happened on the night of October 18, 2009, when his wife vanished. “For some reason I just got violent,” he said, according to

the LA Times. The newspaper said Viens had claimed in one interview that he believed his wife had been stealing from their restaurant but in another that they had done cocaine together and she was

pestering him while he tried to sleep. He allegedly told Sgt Garcia that he used duct tape on her mouth and bound her hands and feet to keep her still while she was “wasted”

and then fell asleep. The next • Moustafa morning, he woke up and “panicked”. Asked why, he told the officer: “She was hard,” implying his wife had died overnight. The trial continues. sleeping couple in Britain had an astonishing escape after an out-of-control car crashed into their upstairs bedroom. The couple were in bed at their home in Epsom, Surrey, when the Lexus rounded a bend, mounted a parked Audi, and smashed into the building. The silver car punched a gaping hole in the first floor of the house, blasting debris across the items in the abdominal area. bedroom and en-suite bathroom. These turned out to be about But incredibly the couple were unhurt and police say the 40 capsules, each containing three men who were travelling in the Lexus were taken to $1,000, officials said. Epsom Hospital where they were treated for only minor Authorities believe drug injuries. A number of other cars were also damaged in the incitraffickers were behind the dent, and a postbox, road sign and fence were destroyed. unusual plot, although they A structural engineer was called to check the property as have not ruled out the police investigated the cause of the accident, which happened involvement of other organ- at around 3am on Sunday. One neighbour has described how ised crime syndicates, possi- she heard the early-hours crash. She said: “It sounded like a bly those engaged in arms or plane coming out the sky. I think the car flew about 80ft before human trafficking. it came to rest in the side of the house.”

Money laundering: Smugglers swallow $40,000 in cash

wo men who each ingested about $40,000 (£26,500) before trying to enter Colombia have been arrested, police have said. The pair were detained separately during the past week at the international airport in the Colombian city of Medellin and were on flights arriving from Costa Rica, according to security officials. In the past, “mules” have used a similar method to smuggle contraband narcotics out of the country, swallowing packets of drugs worth thousands of pounds for sale in lucrative overseas markets. But authorities said they were unfamiliar with use of the same technique to sneak cash into the country. “This type of money laundering activity is new in Colombia,” said Wilson Patino, a regional immigration director based in Antioquia state in northwestern Colombia. The two suspects, a Colombian and a Venezuelan, were both described as being “heavy-set” whose large stomachs apparently did not have much difficulty accommodating the wad of illicit currency. Officials did not

provide details about how the cash was recovered, but did describe how one of suspects came to be arrested. The Colombian man drew the attention of authorities when he appeared to be nervous and agitated while going through airport security. He was asked to pass through a scanner again and the X-ray revealed numerous unusual

Car crashes into couple’s upstairs bedroom

• The gaping hole left in the wall of a couple’s bedroom after a car lost control and smashed into their home as they slept. Photo:AFP

DAILY SUN Monday, September 24, 2012,

Foreign Affairs

•African Union soldiers from Uganda looking at some of the weapons recovered from members of Somalia’s Al-Qaeda-linked Shebab after they gave themselves up to African Union Mission in Somalia (AMISOM) forces in Garsale, some 10km from the town of Jowhar, 80km north of the capital Mogadishu. Photo:AFP

Libya gives rogue militias 48 hrs Pakistan condemns minister’s $.1m to quit or … bounty on head of anti-Islam film maker L P akistani Prime Miniter’s spokesman has condemned a minister’s $100,000 (£61,600) reward for the killing of the maker of an amateur anti-Islam video. Shafqat Jalil told the BBC the government “absolutely disassociated” itself from comments by Railways Minister Ghulam Ahmad Bilour. The film, produced in the United States, has led to a wave of protests in the Muslim world and many deaths. The bounty offer came a day after at least 20 died in clashes in Pakistan. Friday’s violence, which saw protesters pitted against armed police, occurred in cities throughout Pakistan, with Karachi and Peshawar among the worst hit. “I will pay whoever kills the makers of this

•Ghulam Ahmad

video $100,000,” the minister said. “If someone else makes other similar blasphemous material in the future, I will also pay his killers $100,000. “I call upon these countries and say: Yes, freedom of expression is there, but you should make laws regarding people insulting our Prophet. And if you don’t, then the

future will be extremely dangerous.” At one point, he even called for the help of the Taliban and al-Qaeda in killing the filmmaker. His ANP party, which is part of the governing coalition, told the BBC this was a personal statement, not party policy, but added that it would not be taking any

action against him. Mr Jalil said: “He is not a member of the (ruling) PPP (Pakistan People’s Party), he is an ANP politician and therefore the prime minister will speak to the head of the ANP to decide the next step. They are not ruling out action against him but say he will stay in his post for now.”

Obama seeks to reassure Americans …As foreign policy bright spot dims

nited States President Barack Obama is facing pressures that threaten to chip away at a foreign policy record his aides hoped would be immune to Republican attack. From Middle East upheaval to the troubled Afghan war effort to a more assertive Russia, the White House is increasingly concerned but isn’t hitting the panic button, yet. Administration officials are heartened by Republican challenger Mitt Romney’s own recent foreign policy stumbles and doubt Obama’s critics will gain traction in a campaign focused mainly on the U.S. economy. As a result, when Obama

speaks inside the cavernous U.N. General Assembly hall tomorrow exactly six weeks before the U.S. election, he will seek to reassure American voters as well as world leaders he is on top of the latest global challenges. But he won’t propose any new remedies or bold initiatives. There will be close scrutiny of how far he goes in talking tough about Iran’s nuclear program but even on that point, aides say privately he will not break new policy ground. Obama’s final turn on the world stage before facing voters will be a reflection of where his priorities lie. Despite simmering global crises, he will skip traditional private meetings with foreign

counterparts and squeeze his U.N. visit into just 24 hours so he can jump back on the campaign trail. U.N. delegates shouldn’t take it personally. “It’s just that they don’t vote,” said Joseph Cirincione, a foreign policy expert at the Ploughshares Fund, a global security foundation. But Obama’s relatively low-key U.N. itinerary will also be a stark reminder that the heady optimism that greeted him when he took office promising to be a transformational statesman has cooled, giving way to geopolitical realities. Aides insist foreign policy is still an election-year bright spot for Obama. The White House never tires of touting the killing of Osama bin Laden and the ending of the war in Iraq.

ibya’s army yesterday ordered rogue armed groups in and around the capital to leave state and military premises in Tripoli or be ejected by force, apparently seeking to capitalize on the withdrawal of militias from Benghazi and Derna. The two main Islamist militias in Derna, a town in eastern Libya known as an Islamist stronghold, said on Saturday that they were disbanding in the town, a day after one of them, Ansar al-Sharia, was driven out of Libya’s second city, Benghazi. The many militias, most of them ex-rebels, that control Libya’s streets more than a year after Muammar Gadhafi was toppled are the clearest sign of the weakness of a central government that has been unable to control them and, worse, relies on many of them to provide security. However, the killing of four Americans including the ambassador in an attack on the U.S. consulate in Benghazi on September 11 seems to have given the nascent democratic government a cue to rally support and channel public frustration with the armed groups. Some U.S. officials have accused the Islamist Ansar alSharia militia of involvement in the attack, a charge it denies.

Ex-Iranian president’s daughter jailed

aughter of former Iranian president Akbar Hashemi Rafsanjani, Faezeh Hashemi has arrived at Iran’s notorious Evin prison to begin serving a six month sentence for making anti-government statements, semi-official Fars news agency reported. Hashemi, who was picked up by authorities late Saturday, was arrested last year for taking part in antigovernment protests. She was sentenced in January, just before Iran held parliamentary elections. She will be carrying out her sentence in

Evin’s security unit, a relatively comfortable section of the prison. Her father is a powerful cleric and former parliament speaker. In the past, Rafsanjani has been one of the government’s most vocal critics.

•Faezeh Hashemi

DAILY SUN Monday, September 24, 2012

NewsPlus In Cross River, flood wreaks havoc in 60 communities From JUDEX OKORO, Calabar

ver 60 coastal communities in seven local government areas of Cross River State are in trouble at the moment, as many rivers and streams in the area continue to overflow their banks. Authorities in The Republic of Cameroun recently released water from the Lagdo Dam following excessive rainfall, and the water has caused flooding in many coastal communities. Right now, no fewer than 60 coastal communities are being overrun by intensive flooding. This brings to about 98 communities and 600 houses already destroyed by flood, just as over 5000 persons have been rendered homeless by the rampaging flood occasioned by torrential rain in the last three months across 15 local government areas of the state. Statistics made available to the reporter by the Cross River State Emergency Management Agency (SEMA) showed that at least 11 persons have been reported killed by flood in the state this year while hundreds of houses have been submerged and pulled down, displacing thousands. About 18,000 farms worth millions of naira have also been destroyed. Local governments whose communities are affected include Calabar, Biase, Akamkpa, Odukpani, Yakurr, Obubra, Ikom, Boki, Obudu, Obanliku, Yala, Bekwarra, Bakassi and Etung. Recently, the Camerounian government has signalled its intention to release the excess water from the Lagdo Dam, which is on the River Benue’s axis of the Cameroun Republic. As a result, the State Commissioner for information, Chief Akin A. Ricketts, called for safety measures to avert imminent danger, especially in the communities around the River Benue trough which is contiguous to the Republic of Cameroun. He urged residents to take proactive measures in order to forestall the envisaged disaster. “Accordingly, chairmen of local government areas, in whose domains such communities situate, particularly Obanliku, Boki, Etung, Akamkpa, Bakassi and Akpabuyo; officials of the State Emergency Management Agency, opinion leaders and other people of goodwill, are by this public information, requested to educate people within the aforementioned communities and advise evacuation where necessary,” he said. Ricketts said it was important for all those concerned to work in unison and prevent any

•A family relocating from a flooded community

•A flooded village in Biase

avoidable danger or disaster from manifesting, appealing to members of the public, particularly those residing around the threatened zones, to report any threat to the relevant agencies of government for prompt response. But hardly had that appeal been given than the Cameroun government released thousands of cubit metres of water into the Benue river axis. Investigations by the reporter revealed that with the release of the water, over 60 affected communities are experiencing unprecedented flooding which have submerged thousands of farms, destroying yams, cassava, vegetables, cocoyams, melons and other cash crops across the coastal communities in Cross River. It was learnt that property worth millions of naira have been destroyed just as hundreds of houses are inundated with the flood. Over 10,000 livestock have also been affected. When our correspondent visited some of the affected communities in Odukpani and Biase, an eyewitness said the flood water that overwhelmed substantial part of the village occurred at midday, leading to sudden collapse of some residential buildings. At the village,

the residents wore mournful looks as they were seen salvaging some of the property with floating water canoes to safer ground while others merely sat, unable to comprehend what happened to them. While some of them have relocated with some of the property they were able to salvage by canoe to higher ground for safety, most were reluctant to move due to what they complained as lack of finance to erect buildings upland, adding that there were no places to squat either. Women and children sat helplessly, with no potable drinking water, food or medication. Some others have secured temporary shelter with relatives or at the primary and secondary school buildings. Speaking with the reporter at Odukpani, Mr. Emmanuel Bassey lamented that the flood was the first of its kind in over 10 years, adding that his family had no place to move to as they could not afford to rent a home upland. He said: “Our farms have been destroyed. We cannot fish, and our market has been submerged, creating both economic and social problems. So, we are appealing to the state and federal governments to expedite action in the relocation programme so that we can have a sense of belonging.” Looking frustrated as his house has been swept into the river, Bassey, 50, said: “Where would I go to with my five children and wife? Government, please help us. We are dying. This is wickedness by the Cameroon government. Otherwise, why should they release more water to cause this kind of disaster and our government is not asking for compensation from them?” Narrating her ordeal in tears, Mrs. Affiong Ekpennyong said she had no premonition of the ravaging flood as the rains were not lifethreatening, even though the water level was very high. The woman, a native of Odukpani said: “The water swept away the banks on which some of the buildings stood and in the process swept away many structures, thereby leaving the entire community homeless. We have no place to go. We’re pleading with the state government and philanthropic organizations to urgently come to our aid.”

Another victim, Obanji Oko told the reporter: “The water is rising every minute. We have never seen this kind of devastation before and we can no longer sleep because we are afraid that the raging water could sweep us away while we sleep. As you can see, several houses have collapsed. It is pathetic.” Assessing the disaster in some of the communities, the Director-General, Cross River State Emergency Management Agency (SEMA), Mr. Vincent Aquah described the destruction caused by the flooding as phenomenal. He expressed fears that the magnitude and severity of damage to lives and property would increase as the level of flood rises. According to him: “Apart from extreme famine that would visit the agrarian communities as a result of the destruction of their farms by the flood, housing would be a problem as many are already relocating to makeshift shelters. “As you can see, these conditions are far below human standard, particularly living in a slum such as this thatch house. Children and women are suffering and there is an urgent need to address the situation before it gets out of hand.” The Director-General, who was in one of the slums ravaged by water, appealed to the federal government and international organizations to come to the aid of the state government as it apparently has no financial capacity to effectively manage the situation alone. Mr. Aquah, who announced that sensitization campaign has already begun in all the communities along the coastline being affected by the flood, said that relocation to higher grounds was the only option for the vulnerable villages. He assured that every effort would be made by the state government to cushion the effect of the disaster. The SEMA boss said relevant departments such as the Ministries of Works and Environment would be contacted to begin the process of rehabilitation of the damaged system. He appealed to neighbours of the collapsed structures to display brotherly love by accommodating the victims while they seek for permanent homes.

Monday, September 24, 2012

DAILY SUN

NewsPlus

Fury over vendor’s killing • Community, groups set for war with Navy over young man’s death

The late Onunkaji UZOR, ber of the Newspaper Vendors Association in Onitsha who was also in the entourage, explained hen 23-year-old how the killing took place. “We were in a convoy of about Chukwudi Onunkaji, a newspaper vendor in the 10 vehicles, including the ambucommercial city of Onitsha left lance conveying the corpse of the the comfort of his room that fate- deceased and two Hilux vans ful day, he had no premonition of belonging to the vigilance group. any evil lurking around the cor- There was a van in front and anothner. But little did he know that he er one at the back of the convoy. was on the fast lane to the great When we got to Umuikaa junction beyond. That day turned out to near Oweerinta, we met a terrible traffic jam, so we diverted to follow be his last on earth. Even now, there is considerable a local route. It was when we had anxiety over the circumstances sur- got there that we found out that the rounding the killing of the newspa- traffic jam was caused by Naval per vendor who plied his trade in officers at Umuikaa junction. “When we got inside the comthe commercial city of Onitsha. He was killed by a naval officer at pound with the first Hilux van carNnoyi junction, Isialangwa South rying members of the vigilance Local Government area of Abia group, we heard gunshots. It was at that moment that we were told that State. It was learnt that the deceased, the Naval men were delaying the who hailed from Amiyi village in remaining Hilux van carrying the Umuelele community in other members of the vigilance Isialangwa South Local group. The first van conveying the Government area of Abia State, boy that was killed, then reversed, met his untimely death while on his along with the full convoy, to go and meet the Naval men. We wantway to the burial of a kinsman. Chukwudi was, until his death, a ed them to know that we were not newspaper vendor in Onitsha. He armed robbers but that we came for was allegedly killed by some naval a burial.” He further said that on getting to men on July 20 when he was in company with some members of the Nnoyi junction, they found out the Anambra State local vigilance that the Naval officers had disgroup who were attending the bur- armed the security men and ial of a man that died in an auto ordered them to lie face down. He said when they approached the sencrash. Narrating the incident, an eye- ior naval officer, he jumped out of witness, Emeka Nwanka, a mem- his vehicle and ordered everybody

From EMMANUEL Onitsha

to lie down. According to him, it was in the process that the naval officer opened fire on the security men, killing the vendor. “When we got back to Nnoyi junction, on sighting the first batch of the vigilance group that had entered into the compound, the leader of the Naval officers jumped out and ordered everybody to lie down. When a member of the vigilance group tried to tell him that we are not armed robbers and show him the ambulance carrying the corpse of their member, he opened fire on us. Chukwudi was hit in the lower abdomen,” Nwanka said. He equally disclosed that when the naval officers noticed what they had done, they retreated and stayed in their van while the boy was still groaning in pains and bleeding profusely from the gunshot wound. He said: “We then agreed that we should take him to the hospital. But we said we should first make a report in the police station. That was when the naval officers took the boy into their van. And on our way to the police station, they diverted and took the boy away to their Naval base at Owerrinta where he died after losing so much blood.” Chairman of Onitsha Newspaper Distributors’ Association, Mr. Jude Oguzie condemned the killing of their member, adding that it was senseless to kill an innocent boy for no cause. Mr. Oguzie said: “The killing was very senseless and condemnable and we want to use this opportunity to call on the Federal Government to look into the overzealousness of the military and other security agencies and help in putting an end to this type of inci-

dent.” He called on the Naval authorities to release the corpse of the deceased and take full responsibility for his burial, adding that they would be forced to initiate legal action against the Navy. Also speaking on the issue, the South East Chairman, Campaign for Democracy (CD), Dede Uzor A. Uzor called President Goodluck Jonathan to direct the Chief of Defence Staff to investigate the cold-blooded murder of the vendor. Dede Uzor described the incident as crime against God and humanity, adding: “We must rise up against these senseless killings of our people by those who are supposed to be safeguarding them. And because nothing happens, it has almost become a daily occurrence, and CD wants to stand up against it and ensure that justice is done. We therefore call for the setting up of a judicial committee of inquiry into the gruesome murder of the vendor by the Naval officers and bring the erring officers to book.” In a statement made available to Daily Sun, the South East Democratic Initiative (SEDI) said it frowned against and condemned in very strong terms the indiscriminate murder of innocent and defenceless citizens by armed personnel on flimsy excuses. The group described as “insensitive and inhuman” the position by the Nigerian Navy that Chukwudi was part of armed youths conveying arms and ammunition from Onitsha, Anambra State to Abia State . The Acting Chairman of SEDI, Comrade Christopher Uwakwe and the Director of Campaign and Publicity, Comrade Okolo Uwaoma, said there were a lot of loopholes in the account of the Navy on how they shot and killed the 23-year-vendor. They said that the people would not have been conveying arms and ammunitions, when they were travelling with policemen from Onitsha

attached to them to identify them as GRA Onitsha vigilance group or members of the Neighbourhood Watch, taking the corpse of one of their members, Emmanuel Achonna to his village, Amiyi, Uhulele in Isi-Ala Ngwa, Abia State. The pro-democracy group also said that its investigation had shown that two members of the vigilance group arrested have been released. The Navy equally released the corpse of Onunkaji to the police in Umuahia, which in turn released it to the deceased’s family. But the family has insisted that the vendor would not be buried until the Navy accepts the responsibility for the murder. The family argued that if the people were transporting arms and ammunition from Onitsha to Abia, why then should the men and the corpse be released? According to the family, the Navy pretends as if there was nothing like the Neighbourhood Watch again. “In fact, when the police is talking about community policing, they mean neighbourhood watch. So if this vigilance group is carrying one or two arms, what the Navy should do was to find out the source, especially when the vigilane group members were with policemen. They shouldn’t be killing innocent boys. “If these people are criminals as the Navy would want us to believe, by now, all of them should have been handed over to the police and criminal charges pressed against them. But none of these happened, a clear indication that the Nigerian Navy has not told Nigerians the entire truth in this matter. “Although, the family has indicated their intention to formally petition the President and Commander-In-Chief, Dr. Goodluck Jonathan, we as a human rights body want to add our voice, by asking the president to set up a panel of inquiry to unravel how the vendor, Onunkaji was killed.”

DAILY SUN Monday September 24, 2012

The tussle over Anambra oil fields n August 30, President Goodluck Jonathan formally inaugurated Orient Petroleum oil production facilities at Aguleri-Otu in Anambra East Local Council Area of Anambra State. Obviously elated at the economic and commercial potentials of the refinery, which he announced has placed Anambra State among the enviable league of oil producing states in the country, the president commended the founders of Orient Petroleum for making “history, not just in Anambra State, but in the whole country, by partnering with the Federal Government to come out with this revolution.” Orient Petroleum was formed eleven years ago, and its Board is chaired by former Secretary-General of the Commonwealth, Chief Emeka Anyaoku. The company was reportedly allocated oil fields domiciled in Anambra. Four of the oil wells are, according its founders, at exploration stage. However, no sooner had the president declared Anambra an oil producing State, did Enugu and Kogi State governments begin to lay claim to one of the oil wells that feed the Orient refinery. For instance, Kogi State has claimed that the oil well is located on its land. A similar claim has also come from Enugu State government. The two claimants have spared no effort to back up their claims. But, the government of Anambra state has rebutted these claims. It gave detailed figures to buttress its ownership of the oil fields. According to a statement by Governor Peter Obi, the state had, from inception of Orient Petroleum, made huge financial investments in the project. It noted that between 2006 and 2009 alone, it invested a total of N4.4 billion on the venture because of its “belief in the positive impact of the project on the economy of the state.” It is obvious the last has not been heard on this dispute. We are not surprised at the high-stake interest, heated debate and controversy that this issue has generated so far. Considering the immense benefits of extra revenue from derivation fund that comes to states with oil resources, such tussle may not be out of place. But, we are

amazed at the sudden consciousness of Kogi and Enugu States, eleven years after Orient was allocated the oil well now in dispute. It should be expected that President Jonathan would have more facts than any of the two states claiming ownership of the oil fields and these facts must have informed his pronouncement of Anambra as the latest oil producing state in the country. It is also not likely that the President made this declaration in error. Whatever is the case, the Federal Government should step in to avoid bloodshed over the true ownership of the oil well. This has become expedient because some interest groups may take advantage of the dispute to foment trouble. It will be recalled that in 1994, there was bloodbath following outbreak of violence between the people of Aguleri, the present area where the Orient refinery is located, and the people of Ibaji in Kogi State, one of the communities laying claim to the disputed well. The issue in dispute, now, is essentially geographical in nature. We urge the National Boundary Commission (NBC) to quickly wade into the matter. A protracted face-off reminiscent of the onshore dichotomy between Akwa Ibom and Cross River States over the disputed 76 oil wells should be avoided in the present matter of the disputed Orient oil wells. It is regrettable that the giant strides in oil exploration made by Orient Petroleum Resources, an indigenous firm, in line with the Federal Government's transformation agenda of job creation in the petroleum sector through the Petroleum Industry Bill (PIB), are now enmeshed in controversy involving Anambra, Enugu and Kogi States. Our position is that the solution to the dispute should be based on truth, fairness and justice so that the hard work of the people, their sacrifices and investments would not be in vain. Extreme caution is necessary so as not to jeopardize the fragile peace in the country. Whatever political solution is arrived at should match the vista of opportunities that Orient investors have opened up in crude oil exploration in the country.

COMMENT

THE DIRECTORATE TONY ONYIMA Managing Director /Editor-in-Chief FEMI ADESINA Deputy MD/Deputy Editor-in-Chief ETHEL NMEZI Executive Director, Finance/Admin ALAN JONES Executive Director, Technical PAUL ONYIA Executive Director Marketing ERIC OSAGIE Executive Director, Special Services EDITORIAL STEVE NWOSU Editor, Daily ONUOHA UKEH Editor, Saturday FUNKE EGBEMODE Editor, Sunday SHOLA OSHUNKEYE, Editor, Magazines ABDULFATAH OLADEINDE Deputy Editor, Daily FEMI ADEOTI Deputy Editor, Daily IKENNA EMEWU Deputy Editor, Nation’s Capital BRUCE MALOGO, Deputy Editor, Saturday BEIFOH OSEWELE, Deputy Editor, Magazines EMEKA OKOROANYANWU Group Business Editor CHIDI OBINECHE Political Editor CHRIS ANUCHA Acting Bureau Chief, ( South-South) CHIDI NNADI Bureau Chief, (South-East) YINKA FABOWALE Bureau Chief (South-West) ISMAIL OMIPIDAN Bureau Chief (North-west) EDITORIAL BOARD AMANZE OBI Chairman, Editorial Board CORPORATE SERVICES NETA NWOSU A.G.M. Corporate Services ADVERTISING/MARKETING DEMOLA ABIOYE Business Development Manager NNENA SHUAIB Asst. Manager Business Dev. (Abuja) SALES & OPERATIONS DAMOLA LAJUMOKE AGM, Sales & Operations NWOKOCHA OBI Sales & Distribution Manager REMI QUADRI Manager, Copy Sales FINANCE & ADMINISTRATION OBIOMA OGUKWE Accountant JOHNSON OGWUMIKE Internal Audit Manager PATRICK ENILAMA Principal Human Resource Manager IFY ANYALECHI Procurement & General Services Manager

MISSION ‘To practise journalism in the classical newspaper tradition of presenting the news and features in an exciting style, with impact, objectivity and appeathat generate returns to all stakeholders: the society, the investors and the practitioners’

LETTER Why First Lady should not ignore prophecy I want to remind our leaders, why they need to take prophecy serious. It will them guide against circumstances that can affect them negatively. I remembered I drew the attention of Nigerians to the prophecies God revealed through his servant, Primate Elijah Ayodele that came to pass. I have decided to keep quiet but the recent happenings forced me to come out of my shell to once again remind Nigerians, most especially, those prophesies that came to pass. I remember I read it in Daily Sun of August 14, where Ayodele predicted that we should pray against fire outbreak on Lagos-Ibadan Expressway, but our leaders will not do anything about it until it happened. The incident of fire outbreak as a result of petrol tanker and passengers' bus that had head-on-collision and left several peo-

ple burnt to death attests to it. I remember also that he predicted that people of Togo Republic would rise against the constituted authority of the country. All of us are witnesses to what happened recently in Togo where women protested against the authority of the country nakedly. Anybody who is in doubt should go to the internet and see the photos of the protesting women. He predicted that the presidents of Cote-de-voire and Guinea should pray against crises in their domain. We are all witnesses to what is going on in those countries now. In the publication also, he warned that if we failed to pray, PENGASSAN would go on strike. In Abuja of recent, this body went on strike, thereby causing scarcity of fuel in the nation's capital. Primate Ayodele also predicted that

there will be increase in the price of bread and other related food items made from flour. We all witnessed recently when the association of bread sellers went on air announcing increase in the price of bread. The prophecy made by the respected man of God that stunned me most could found on his page14 of last year book of prediction: 'Warning to the Nation,' in which he predicted that and I quote: “Let us commit First Lady into the hand of God so that she would not be poisoned.” So, when the news broke out that our First Lady, Dame Patience Jonathan is in a German hospital, allegedly for food poisoning. Though the Presidency denied it, the point is, the woman is in the hospital. The point I want to make here is that no matter how, if there is prediction on a particular issue we need to take it serious. I remember that in the Bible, most

of the kings that reigned in Israel were being guided by the predictions from God through prophets. Had it been our First Lady saw the book, may be she would have prayed against it. He also predicted that President Barak Obama will not have easy ride in his quest for second term in office. I don't need to tell Nigerians of what is going in America now. I remewmberd he predicted about the collapse of Micro Finance banking sector. If we look around us, we'll see that, not all the micro finance bank made it to the promised land. Some had their lincences revoked, because they could not meet up to the standard of the Central Bank of Nigeria (CBN). Prophecies are not meant to scare people as many believed it to be, but to guide against unwanted negative occurrence. Oladapo Ishola Lagos. CMYK

DAILY SUN Monday, September 24, 2012

Nigeria–Liberia Soccer: Out, Terrorism! In, Ethics!

lthough the world has so far been made to think that the September 8 Africa Nations’ Cup match between Nigeria and Liberia at the Samuel Kanyon Doe Stadium ended in a twogoals draw, the aim of this article is to contend that there was more to that encounter than met the eyes. And also, that the time has really come to stop terrorism in sports (especially soccer), on the African continent. Let us begin by first seeking agreement on one issue: How can terrorism be manifested in football, and how was that element amply demonstrated two Saturdays ago? But as we first need to grapple with the concept of terror, it is pertinent to acknowledge that the Oxford Advanced Learner’s Dictionary gives four meanings for the word: “A feeling of extreme fear…. A person, situation or thing that makes you (anybody) very afraid; violent action or the threat of violent action that is intended to cause fear…. with terrorism, which means a campaign of terror or the use of terror tactics, as a synonym….” Furthermore, a terrorist is “a person who takes part in terrorism”, while the word “terrorize” means “ to frighten and threaten people so that they will not oppose something or will do as they are told.” The first accusation against the Liberian football fans is that on Saturday, September 8, 2012, they acted without a modicum of empathy and reciprocity consciousness in them. We cannot fault Mrs. Sirleaf – Johnson, the Liberian President(sorry am so upset that I cannot remember any of their first or last names now), for going the extra kilometre to get Liberians even free of charge into the pitch, because that is part of leadership’s esprit de corps (motivational) responsibilities. They deserve to be carpeted, however, for taking the Nigerian team to a substandard hotel into which they could not have checked their own national team. Secondly, the Liberians decided to give the Nigerian team – the Super Eagles – a rickety bus without any air-conditioning; the type that could break down anywhere

Life and Issues with Tunde Thompson

tunsthompson@yahoo.com

and anytime. It is not as if Nigeria ever did such a thing to them and that they were only reciprocating an unfriendly gesture. My contention is that when they sought to accommodate the team in a sub-standard hotel, exposing them to mosquitoes and other dangers, and also offered them a bus (called “molue” in this part of the world), that they did not choose to use themselves, Liberia was resorting to the adoption of terror tactics against Nigeria, soccer-wise.. Thirdly, it needs to be understood that because the Liberian football officials did these, they should be seen as trying not only to assure discomfort for the Nigerian side, but to unduly subject them to mental and physical disorder and torture, which are the keys to unco-ordinated performances (individually and collectively) on the soccer field. After all, it is not until people or places are bombed; set on fire, or riddled with bullets, that we can begin to recognize the terrorists in other people. The fourth accusation,based on a report by the Nigerian Press, is that after the match in which the Liberians forced a draw, the rampaging fans did some despicable things, such as holding the Nigerian team hostage after the match. As reported on Monday, September 10, at page 60 by the Daily Sun: “The Super Eagles and their officials were held hostage inside the dressing room for their own safety following angry crowd reaction that greeted the result. The fans had pelted the players with satchets of pure water, empty cans and bottles after the game and security agencies made up of Nigeria soldiers on peace-keeping mission came to the rescue and led the team to the dressing

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room where they stayed for more than 50 minutes after the game. They had to wait for the crowd to disperse before they were led back to the hotel.” What a shame!!! Did those people want to kill the players, or what? Ironically, the fans later besieged the hotel “for autographs and photo sessions”! What if they had been killed or sustained injuries from all those attacks against which they were protected by the patriotic ECOMOG security agents, over whom Nigeria has spent billions of Naira since the last millennium. With such “friends”, who needs an enemy? These mean that we should be more critical over the resultant 2 – 2 draw. One cannot but believe that if the team had got a straight victory, what was reported and quoted above would have been relatively a child’s play. I ask: is such aggressive behavior in keeping with the spirit and letters of the ECOWAS; the Africa Union (AU) and the FIFA and all other sporting organization around the world? The Nigerian Football Federation (NFF), has been ordering Coach Stephen Keshi to reshuffle the team. Although one thinks that that may be important to them, it is at the moment more urgent for football authorities everywhere to advocate more proactive steps to protect football teams against the sort of terrorism visited on the Nigerian team in Monrovia on September 8.That is because whatever the team list may read, all other efforts will amount to zero, if team members and official are exposed to similar dangers in future encounters. The reportedly poisoned water deserves

no special attention now and all one can say is that the Nigerian Embassy to which it was sent, needs to forward it to Abuja for onward passage to FIFA Headquarters, for comparative laboratory testing exercises. The whole idea is to embark on a worldwide initiative to, this time, combat terrorism in international soccer, using the September 8 Nigeria-Liberia game as a case study on ethical and unethical behavior during competitive soccer competitions. This is not a matter raised for laughter! Notably, FIFA has done a good job by endorsing and promoting the struggle against racism in soccer. This particular development provides a good reason to broaden that initiative by adopting a “NO TERRORISM IN SOCCER” campaign, soonest possible. All immoral, unfair and uncivilized steps taken by any soccer side or country to secure victory at all costs, amount to unethical practices. And the fun, pleasure as well as hope of promoting cordial international relations through sports (football in this respect), cannot be advanced in any way, if sanity, on the part of fans, is not restored to the game. Any team that wins any match using such barbaric tactics, ought to be penalized with a ban, and reversal of the socalled victory. We can also keep in view the effects of charms and doping (as in athletics) on the game of football. It will be interesting what research may later reveal to be the effects of “juju” (or “gri gri” in the francophone world), on soccer. But for now, let us ensure that we keep terrorism out of football and ensure more ethical practices in that noble game in Africa, henceforth. MAIL BAG Pertinent questions on PHCN Thanks for your piece in the Sept. 3 edition of Daily Sun. You raised very pertinent questions which both the management and staff of PHCN must provide convincing answers to, so that we know who is actually biting Nigerians at the back: PHCN staff or the Power Minister.- From Nwokedi

N5000 note and theory of inflation targeting T BY CHIMA TITUS NWOKOJI he mounting controversy over the proposed currency restructuring by the Central Bank of Nigeria (CBN) is getting more interesting by the day. Nigerians say it is an automatic importation of inflation, and that it will help facilitate corruption, money laundering and terrorism financing, since it will be much easier to carry bulk money with the N5, 000 notes than ever before. The Central bank says the fears expressed by Nigerians, including economists and finance experts, had no basis in economics. It threw a challenge to economists to make public, any theory that establishes a causal relationship between higher currency denomination and high inflation. Just as this challenge was about to settle with no economist coming up with a theory to the contrary, the Lagos Chamber of Commerce and Industry(LCCI) on September 10th added weight to the CBN challenge. The LCCI through a statement signed by its president Goodie Ibru said: “there is no economic theory or empirical evidence suggesting a causal relationship between higher currency denomination, inflation and devaluation. From the monetary stand point, inflation can only be induced by increasing money supply, or the stock of money in an economy.” The challenge was apparently to economists which I am one. What some of these proponents of higher denomination did not tell us is that economic theories can be developed even today in line with the changing nature of human behaviour. They did not suggest solutions to Nigeria’s rising inflation. What is the best approach to inflation targeting? They are telling Nigerians that CBN will be fighting inflation with coins and N5, 000 notes. They did not tell us the peculiarities of our economy, which at some times in the past made former military president Ibrahim Babangida conclude during his tenure that the Nigerian economy has defied all economic logic. Where else has economies targeted inflation with higher denomination currency, when statistics point to the fact that those who printed higher currency denomination have discarded or are trying to face them out. Part of Nigeria’s peculiarity is what Professor M. L. Jhingan called ‘black money’, when he explained that a monetary measure of inflation control is aimed at reducing money incomes. For noneconomists, the name Jhingan, is one of the popular names within the circle of economics students. He is the author of “advanced economic theory” (first published 1970, reprinted 2003).He was a

retired deputy director, higher education Haryana, India. In recommending monetary measures of controlling inflation, Professor M. L. Jhingan opined that when there is abundance of black money in any country, one of the effective ways of taming inflation is to demonetize currency of higher denomination. “One of the monetary measures is to demonetize currency of higher denominations. Such a measure is usually adopted when there is abundance of black money in the country. The most extreme measure is the issue of new currency in place of the old currency. “Under this system, one new note is exchanged for a number of notes of the old currency. The value of bank deposits is also fixed accordingly. Such a measure is adopted when there is an excessive issue of notes and there is hyperinflation in the country. It is very effective measure. But is inequitable, for it hurts the small depositors the most”, Jhingan sermonized in page 962 of his book. The second part of Jhingan’s recommendation has a disadvantage that one new note will exchange for a number of notes, which is the fear most Nigerians are expressing and is premised on what happened in Bolivia and Nicaragua. Bolivia had a similar experience between 1984 and 1987. Before 1984, Bolivia’s highest currency denomination was one thousand Bolivian pesos which rose to ten million Bolivian pesos by 1985. In the inevitable currency reform that came in 1987, the currency was renamed Boliviano, a unit of which exchanged for one million Bolivian pesos. In early 1986, the highest denomination in Nicaragua was ten thousand Cordobas which rose to one million cordobas by 1987. In that country’s 1988 currency reform as a result of inflation, one new cordobas was exchanged for ten thousand old cordobas. By 1990, however, the highest denomination was again one hundred million new cordobas. Finally in another currency reform in 19991 new cordobas was exchanged for five million old cordobas. Is this the road Sanusi want Nigeria to travel in, certainly it is not worth it. Jhingan’s recommendations are quite clear: stop using currency of higher denomination or in extreme case issue new currency in place of the old currency. The questions are: is there black money in the Nigerian economy? Will higher denomination hurt small depositors? Are the Nigerian authorities experimenting with measures to control inflation?

Do we have hyperinflation? The answers to the above questions are yes, except the last. Jhingan described black money which increases aggregate demand as money got through corruption, tax evasion and other forms of money laundering. This is worsened by the incidence of billions of naira that flow into the economy through oil bunkering. Even without looking at statistics from monetary authorities, it is clear to everyone that the country has been fighting to free itself from the stranglehold of black money over the years. This is coupled with the existence of ‘hot money.’ The Monetary Policy Committee in its communiqué number 83 in July confirmed that a total of $5 billion (about N775bn) “hot money” exists in the system. In economics there are two ways of arriving at a conclusion: deductive reasoning and inductive reasoning. Deductive reasoning happens when a researcher works from the more general information to the more specific. Sometimes this is called the “top-down” approach. Inductive reasoning works the opposite way, moving from specific observations to broader generalizations and theories. This is sometimes called a “bottom up” approach. The CBN’s economic theory was based on the deduction that high denominations introduced in the past has led to decrease in inflation rate. What then is economic theory? It was Ernest Nagel (1968) a co-author of ‘An introduction to logic and scientific method’who described an economic theory as “a set of statements, organized in a characteristic way, and designed to serve as premises for explaining as well as predicting an indeterminately large (and usually varied) class of economic phenomena.” It follows that economic theory involves establishment of a general truth on the basis of particular experiences, which are statements of general tendencies or uniformities of relationships among various elements of economic phenomena. Without sounding too technical, let us on the basis of the above take economic theory simply as truth arrived at from experience that can easily be verified. It does not need to come from Adam Smith, Professor Robins, Karl Marx, and John Maynard Keynes among others before we term it an economic theory. In taking up the Sanusi challenge, I want to say that anyone can establish a theory. It is the authority of the person who propounds a theory, the ability of that theory to stand the test of time, be verified and confirmed as well as the ability of a scholar to discover or read about such, that gives it populari-

ty. So, saying there is no economic theory establishing a causal relationship between high denomination and inflation targeting is an indirect way of elevating classical economists and rendering modern economists unpopular. It is to me, a ‘hasty generalization.’ Why then should economists accept CBN’s theory? Is it not true that high inflation can force an economy to opt for higher denomination? In fact, the CBN has said in a widely published press release that higher denomination leads to a decrease in inflation rate. How true is this in economics? Frankly, CBN is trying to give us an economic theory in this context. It is an economic theory in the making, but still subject to further verification because a lot of variables were overlooked. It said: “The experience in Nigeria and other jurisdictions suggests that currency restructuring may actually help in tackling inflation. For instance, when CBN introduced the N500 banknote in 2002, inflation dropped from 16.5% to 12.1% in 2003. Similarly, when the N1, 000 banknote was introduced in 2005, the inflation rate actually dropped from 11.6% to 8.6% (single digit) in 2006 and dropped further to 6.6% in 2007.” Did anyone ask CBN if there is any economic theory that establishes a causal relationship between high denomination and inflation targeting? But this is an inductive reasoning by CBN which conclusion was drawn from observation and experience. It began with specific observations and measures, detects patterns and regularities; and finally ends up developing some general conclusions or such theories that “when N500 was introduced, inflation reduced to 12.1 per cent.” Again, inflation describes a situation when more money chases few goods. In Nigeria, more money is already chasing few goods and there is no sign that the situation will improve in the near term. This is premised on the level of structural deficiency in the country; an idea corroborated by former Director of Research and Statistics, Central Bank of Nigeria (CBN), and erstwhile Director-General, West Africa Monetary Institute, Accra-Ghana Dr. Joseph Nnanna. He said at the the annual seminar organized by the CBN for finance correspondents and business editors in Akure that the hope of bringing inflation rate to a single digit in Nigeria may remain a mirage until structural dislocations in the economy that multiplies the cost of production is addressed. Nwokoji is on the staff of The Sun CMYK

DAILY SUN Monday September 24

2012

Threat of food shortage L BY NELSON MANGO ivestock in Nigeria plays a big role in the livelihood of farmers and nutritional needs of the country. Livestock also contributes to farming in many other ways. Animals are used as draught power to pull plows or help weed farmland, and cow dung is an excellent fertilizer. With so much at stake, farmers could benefit from simple, yet highly efficient ways to increase the health and productivity of their livestock. These factors are often compromised when animals roam free in open pasture, exposed to disease vectors and left to feed on unwholesome grasses and plants. One technique that can be very effective in maintaining healthy productive animals is a zero-grazing system. In zero-grazing, livestock is kept in stalls all the time, and feed and water are brought to the animals. Zero-grazing keeps animals healthier. It can ward off diseases such as sleeping sickness caused by tsetse flies and tick bone diseases, which are so prevalent throughout Nigeria. Zero-grazing also helps farmers increase productivity either from their current livestock or from the purchase of higher-yielding breeds of livestock which would not be able

to thrive in an open pasture. Zero-grazing has side benefits as well. The increased efficiency of this management practice means more weight or milk can be produced per unit of feed eaten. Zero-grazing uses less land to produce more nutritious fodder plants, which allows the farmer to maximize the use of available land. Processes such as milking are easier to perform when the animals are kept corralled and calm. Manure can be collected from the enclosure and used as fertilizer for growing crops. Diseases are minimized because troublesome insects, such as biting and nuisance flies, are easier to control. Zero-grazing is capital intensive but the benefits are enormous, and can far outweigh the cost of implementing the system. A study by the Kenya Agricultural Research Institute showed that the rate of return on a dollar invested ranged from USD2.60 to USD3.00. Farmers achieved an average gross margin of USD248 and a net profit of USD125 per cow per year. At this rate of return, capital investment was recouped within two years. In another study of smallholder dairy farming in Uganda by the International Livestock Research Institute, five dairy production systems were compared, from most intensive (zero-grazing) to least intensive (herding). The study found that increasing

the level of intensification resulted in a significant increase in milk productivity and percentage of milk sold. A successful zero-grazing system involves four major components: Housing (the zero-grazing unit). Building materials for the shed include wood, cement, sand, gravel, posts, and roofing material. Individual pens should be large enough to allow for adequate free movement and the opportunity for animals to exhibit normal behavior patterns. (A recommended pen size for a cow is 120 cm wide x 210 cm long or 4 feet x 7 feet.) The floor should be made of slatted wood or bamboo floor raised about 1 m above the ground to allow slurry to collect underneath and be directed to a slurry pit through a drainage channel. Maintenance: Animals in sheds must be kept clean (which is greatly assisted by placing them on slatted floors), fed, and watered. Livestock should have access to fresh air and natural daylight and the shed should be located near a clean water source. Feed. A choice needs to be made between the production of fodder or the use of commercial feeds. Using preserved fodder and hay to feed herds reduces the variability in the supply of pasture and fresh feed in dry periods. If the farmer wants to grow his own fodder, he

must have ample field to do so. Breeding. A livestock breeding expert should be consulted when cross-breeding local stock with imported breeds, to obtain cattle that produce more milk or meat and are resistant to local disease such as sleeping sickness. Since zero-grazing is an intensive management system, it does require a farmer to have a reliable source of food for livestock and sufficient labor to cut and carry the fieldgrown fodder. But farmers can adapt the system to their individual needs and environment. They can also seek the help of agricultural specialists who can educate them on the benefits of a zero-grazing system and help them design one that meets their financial and operational capabilities. The future of agriculture – as well as a well-fed nation — lies in the hands of farmers who are faced with many challenges. Confining animals will help farmers increase productivity by improving the animals’ nutritional status, maintaining calming conditions, and preventing the spread of diseases. Zero-grazing is an example of a simple but highly effective initiative that can go a long way towards easing the farmer’s burdens, by helping him produce more food for himself and others .Mango writes from Abia

Empowering youths through agribusiness T

BY OLUKAYODE OYELEYE he United Nations recently proclaimed the International Year of Youth starting on August 12, 2010. The United Nation's Population Fund (UNFPA) estimates the global youth population at 1.05 billion. Today's generation of young people - defined by the United Nations as those aged 15 to 24 - is the largest in history. In developing countries, young people make up on average 20 per cent of the population, and as such they represent a huge potential resource to those countries. The numbers of young people are growing fast in developing countries. This is especially evident in sub-Saharan Africa where, in some countries, more than 60 per cent of the population is less than 25 years old. This is obviously increasing pressure on the labour market. Yet, ironically, rural areas are not benefiting fully from this resource; indeed, many rural communities are ageing precisely because, in the absence of incentives to remain there, young women and men are leaving rural areas to seek opportunities elsewhere. When young rural women and men cannot get an adequate education, make a living or create a secure home, they move to sprawling urban areas or to foreign countries they believe offer more hope. Some make good and continue to contribute to their communities by sending money home. Too many others become mired in urban poverty. This is a tremendous loss of human potential for their families, and for their nations. Statistics from the International Labour Organisation (ILO) recently showed that, between 1997 and 2007, the ratio of youth-to-adult unemployment rose from 2:6 to 2:8, meaning that young people today are almost three times more likely to be unemployed than adults. Alarming as these fig-

ures may be, the plight of the estimated 300 million young people classified as working poor is equally grave. They earn less than US$2 a day, outnumber young unemployed people by a factor of 4 and typically work in rural areas. During the recent economic crises, global youth unemployment rates rose from 11.9 to 13.0 per cent between 2007 and 2009. The consequences of failing to provide job opportunities for these young men and women can be far-reaching. Underemployed rural young people, particularly become frustrated and idle because they have failed to find decent jobs after migrating to urban centres. Unfortunately, urban labour markets are frequently unable to absorb the inflow of migrant workers, and many young migrants lack the education and skills to compete for decent urban jobs and therefore contribute to social unrest, crime and even armed conflicts. Young people have power and persistence. In the right conditions, a substantial young generation offers countries a priceless resource for economic development and social progress. On the flip side, acting in the wrong direction, disenchanted youth can bring a nation on its knees. Unfolding events in the Arab region, and more sporadic incidents in Europe and elsewhere, are testimony, among other things, to the consequences of populations that are both young and unemployed. Although the level and the nature of grievances differ, when young people are frustrated by poverty, unemployment and lack of rights, they do not sit by passively. They act. Meanwhile population growth continues. The number of 15 to 24-year-olds in the Near East and North Africa is projected to rise by at least 7 million over the next 10 years, meaning that more than two thirds of the population will be under 24. This is both a valuable window of demographic opportunity and a challenge. One of our greatest global challenges _ feeding

the world _ is also our greatest opportunity. With world population set to peak at over 9 billion in 2050 _ and projections that food production will need to rise by 70 per cent _ creating opportunities for young farmers and workers in rural areas is crucial. The sheer force of numbers means that we urgently need to harness the power and creativity of young adults on every continent. We need them to produce, process and market the food that will feed the world. We also need them to play their part - as entrepreneurs, service providers and wage earners - in the development and economic growth of their communities, because at least 70 per cent of the world's poor people still live in rural areas. And we need them to lend their weight and their will to the fight for good governance and social progress at all levels. Young people are the most precious resource a rural community can have. Young women and men who live in rural areas are the world's future farmers, entrepreneurs and leaders. But today, many rural communities are losing their young people because there are often so few incentives for them to stay. They need opportunities to improve their own lives, obtain decent work and pursue prosperity. Basic education is essential to poverty reduction. Yet, the proportion of young people with basic education deficits is greater in rural than in urban areas, because schools are underfunded, and poor children are often taken out of school early to be put to work. The key to meeting the world's future food needs _ and to fighting the hunger and poverty that is concentrated in rural areas _ is to create an environment that will encourage and enable young women and men to remain in their communities. The challenges of meeting future food demand, developing vibrant rural centres and promoting broad-based economic growth in developing countries depend on them. These are compelling

reasons to place rural young people and smallholder agriculture at the forefront of national strategies for food security, poverty reduction and income growth. Young people also need vocational training, apprenticeships and further education to give them relevant knowledge and skills. In the Near East and North Africa, governments have made significant investments in education, but the education system is not delivering a workforce that meets employers' demands. As a result, in some countries, including Nigeria, more than half of graduates do not find jobs. But education and training alone are not enough to guarantee sustainable selfemployment, or to support start-ups that will employ wage earners. Young adults' access to finance in rural areas is vital. When basic education, training and finance are available, young rural people seize these opportunities. The young generation of today has shown that, given the opportunity, it can move mountains. They empower themselves and build their skills and confidence; they participate in community decision-making and take management roles in local organisations. Responding to the challenges of enhanced agricultural productivity and rural economic growth demands at least three things: it requires investment in social and economic infrastructure in rural areas; the creation of remunerative economic opportunities for young people in agriculture and in the rural non-farm economy; and the provision of expanded opportunities for young men and women to build the capacity and skills that they need to take advantage of these opportunities. Oyeleye is the Special Assistant, Media and strategy, to the Minister of Agriculture and Rural Development.

Planned relocation of Imo University BY OBIEFULE UWADINEKE he relocation of IMSU is a bad idea and should not be embraced by Imo citizens, regardless of whether you are from Okigwe, Orlu, or Okigwe (Triple zero state in terms of names), because such move actually undermines the gains that institution made or stands to make in the next 25 years. It certainly will fall some notches behind the competition within this period because, "a rolling stone gathers no moisture." Given that, Mbakwe Obi's assertion that Imo State should not have to put all its eggs in one basket --that of locating all its higher education institutions in "Owerri" Senatorial zone is understandable. But the governor's intentions and Obi's argument are also particularly rendered nonsensical by the facts that: "Okigwe" senatorial zone is not at par with Owerri and "Orlu" senatorial zones in terms of location of universities. Shouldn't Okigwe have been the location for Imo State University, if Rochas Okorocha is sincere

about tackling "over-crowding" and absence of a conducive atmosphere for the students to learn? And if Mbakwe Obi is sincere about equity, why did he not question why the the institution isn't going to Okigwe? The mention of Federal Girls College in Owerri as part of his argument, only makes this guy look shallow-minded. After all, there are hundreds of secondary schools located all over Imo State. The point that Imo citizens should be worried about is that for a State that has the highest number of students applying each year to get into higher institutions beyond secondary school, Rochas may have signaled that he has no intention of building more universities in the State, for a state that needs at least 4 more comprehensive universities in the near future. The relocation of IMSU for the reason the governor claims, also is indicative that he lacks the knowledge of urban planning to decongest a city, and may also signal that Imo State is yet to field a bonafide replacement for Governor Sam Mbakwe, long after he left the

stage as the best governor in the nation, and left Imo citizens feeling proud as the envy of the entire nation. Okorocha's reasoning or excuse that the university is not located in an area of learning setting is such a blunder because most universities in Canada, US, Europe, etc are located in urban centers. By the way, does this governor know as a matter of fact that Japan as a whole is so congested, yet that nation has a lot of urban universities producing some of the best and brightest in every field? If congestion is an issue with this governor, does it then mean that he is about to create more division in the state by suggesting to the federal government to move FUTO, Alvan to his maternal home, so as to begin realizing his dream of turning Owerri into Wonder World. Hogwash! The only feasible way to make Owerri congestion free is to embrace the Beltway system to divert unnecessary traffic away from Owerri, just as is the case in the entire United States. Dr. Herbert Nwankwo, a North

Carolina based civil engineer, also made that recommendation about 3 weeks ago. Yet people like Mbakwe Obi are making arguments that could set the hands of the clock back. Is Rochas Okorocha who already has a large swath of Real Estate in Owerri going to make this old IMSU part of his Real Estate holdings, or is he going to turn around and hand chunks of this venue to his political and business friends in a sweetheart deal? That's the issue Imo citizens --the intellectual flag bearers of Africa-- should closely monitor. Factually and fairly, Owerri, Okigwe, and Orlu, each need at least one new university within the next 5 years. Robbing Peter to pay Paul is not my notion of fairness and certainly not a way to address the shortage (yes, shortage) of universities in Imo State. Robbing Pater to pay Paul could also unleash an unhealthy rivalry between Peter and Paul, and just what is the plan to pay James (Okigwe) who, so far, has been made a spectator in his own state by this governor? Uwadineke writes from Lagos.

DAILY SUN Monday, September 24, 2012

Memories

Philip Nwosu 08176449110

R YOU S U SEND HOTOS P OLD wosu@yahoo.co.uk phillipn e-mail:

Today in History

The first Supreme Court The Judiciary Act of 1789 in the United States was passed by Congress and signed by President George Washington on this day in September 1789, establishing the Supreme Court of the United States as a tribunal made up of six justices who were to serve on the court until death or retirement. That day, President Washington nominated John Jay to preside as chief justice, and John Rutledge, William Cushing, John Blair, Robert Harrison, and James Wilson to be associate justices. On September 26, all six appointments were confirmed by the U.S. Senate. The U.S. Supreme Court was established by Article 3 of the U.S. Constitution. The Constitution granted the Supreme Court ultimate jurisdiction over all laws, especially those in which their constitutionality was at issue. The high court was also designated to oversee cases concerning treaties of the United States, foreign diplomats, admiralty practice, and maritime jurisdiction. On February 1, 1790, the first session of the U.S. Supreme Court was held in New York City’s Royal Exchange Building. The U.S. Supreme Court grew into the most important judicial body in the world in terms of its central place in the American political order. According to the Constitution, the size of the court is set by Congress, and the number of justices varied during the 19th century before stabilizing in 1869 at nine. In times of constitutional crisis, the nation’s highest court has always played a definitive role in resolving, for better or worse, the great issues of the time.

1988

• Onitsha Yam Market in 1983

Sharia court frees Amina Lawal A Nigerian woman sentenced to death by stoning for committing adultery on this day in September 2003 won her appeal against the verdict on a majority decision. Four out of five judges rejected her conviction, saying she was not given “ample opportunity to defend herself”. Thirty-one-year-old Amina Lawal was convicted in Katsina state. She had been found guilty under the Sharia (Islamic criminal law) which has been introduced into 12 northern states over the last three

2003

years. The verdict, which had been expected was read out to a packed courtroom in the appeal court in the northern town of Katsina. The panel of judges said the decision to acquit Ms Lawal was based on procedural errors at her original trial and the fact that her adultery was not proved beyond doubt. Ms Lawal sat throughout the verdict in the corner of the courtroom, her face hidden by a shawl and her child on her lap. A village woman, she had been convicted of adultery in March last year soon after giving

birth to her daughter, Wasila. This was the second time she had appealed against her sentence of death by stoning, with the help of two Nigeria women’s rights groups which took up her case. While Thursday’s ruling means Ms Lawal can go home a free woman, the issue of Sharia and in particular Sharia punishments like flogging for fornication and amputation for theft has not gone away, our correspondent says.

White rule in Rhodesia to end 1976

On September 24, 1976 it was announced that the Rhodesian Government has agreed to introduce black majority rule to the country within two years. Prime Minister Ian Smith made the announcement five days after hearing the proposals of the United States-led diplomatic delegation. The plan presented to him by US Secretary of State Henry Kissinger had been formulated by the American and British Governments. But Mr Smith made it clear he was only accepting the plan under pressure and was not happy with the conditions. In a broadcast to the nation from the capital Salisbury, Rhodesia’s premier outlined the first of six steps agreed with Dr Kissinger. An interim government is to be established and the violent guerrilla warfare being waged by factions of the country’s black population must end. In return international sanctions against the state, which declared its independence from the United Kingdom 11 years ago, would end. UK Prime Minister James Callaghan welcomed his counterpart’s acceptance of the proposals, saying it was a decisive step forward. “It offers a real hope of bringing peace to Rhodesia and of averting the threat of intensifying warfare and bloodshed,” he said. Despite the hopes of peace Mr Smith announced he was only taking the step reluctantly.

DAILY SUN Monday, September 24, 2012

FARMERS NEED GOOD INFRASTRUCTURE -pg. 29

A ROBUST TAX SYSTEM, BEST INSTRUMENT FOR FIGHTING CORRUPTION -pg. 32 25

www.sunnewsonline.com/businessweek

Businessweek SEPTEMBER 24, 2012

•Money •Companies •Commodities •Analysis •Technology •Interview •Management •Stocks

N1.2trn oil facilities under threat By LOUIS IBA

etroleum products assets worth more than N1.2 trillion spread across the Lagos ports are currently under severe threat of bankruptcy with attendant job losses by thousands of employees, no thanks to the harsh and unconducive operating environment created by multiple regulatory agencies, interference in the sector. While investors and operators of these petroleum products assets are still grappling under the

Nigeria can net $45bn yearly from Diaspora – Fred Ijewere PAGE 27

CROSS RATES NAME OF CURRENCY BUYING CENTRAL US DOLLAR 154.78 155.28 POUNDS STERLING 251.7342 252.5474 EURO 201.0128 201.6621 SWISS FRANC 166.0908 166.6273 YEN 1.9795 1.9859 CFA 0.2867 0.2967 WAUA 237.9479 238.7165 YUAN/RENMINBI 24.5459 24.6257 RIYAL 41.2725 41.4058 DANISH KRONA 26.9562 27.0433 SDR 239.2125 239.9852 Official exchange rates as at 21/09/2012

SELLING 155.78 253.3606 202.3115 167.1639 1.9923 0.3067 239.4852 24.7054 41.5391 27.1304 240.758

NIBOR TENOR Tenor Call 7 Day 30 Day 60 Day 90 Day Source: FMDA

RATE Rate 10.8750 11.4583 13.6667 14.2917 14.8333

CHANGE Chng -4.62 -4.33 -2.50 -2.17 -1.92

DATE Date 21 Sept, 2012 21 Sept, 2012 21 Sept, 2012 21 Sept, 2012 21 Sept, 2012

Nigeria’s monthly phone calls to hit N106bn – Investigation By BISI OLALEYE

igeria’s telecommunications subscribers monthly expenditure on mobile phone calls, according to checks, would soon hit a whopping N106.1 billion by the end of December, 2012. The call expenditure forecast is a conservative calculation based on the current industry Average Revenue Per User (ARPU) and the projection by experts in the industry that stipulated that active telecoms subscribers would have grown higher than what the telecoms companies currently have on their respective networks.

CONT’D ON PAGE 26

yoke of about N200 billion outstanding debts owed by the Petroleum Products Pricing Regulatory Agency (PPPRA) with accumulated interest obligations from creditor banks, stakeholders are concerned that the Nigerian Maritime Administration and Safety Agency (NIMASA), whose functions appear to have been hijacked by ex-militants, is further threatening the survival of the sector. This is further heightened by the uncoordinated activities of other monitoring agencies of govern-

CONT’D ON PAGE 26

Businessweek SEPTEMBER 24, 2012

THIS WEEK

TUESDAY

WEDNESDAY THURSDAY

FRIDAY

Banking & Insurance, Suntech

Business News

Aviation and Maritime

Money/ Entrepreneur

Brief TIN: Only 1.5m Nigerians are registered By FOSTER OBI

he Federal Inland Revenue Service (FIRS) has said that only 1.5 million Nigerians have registered and obtained the Tax Payers Identification Number (TIN) since the drive began. Femi Faniyi, FIRS Director, Lagos West, said that this was very negligible when compared with Nigeria’s huge population. He advised Nigerians of taxable age to embrace the programme now by registering and getting their TIN number because in the near future it would be difficult for any individual or corporate organisation to carry out any business transaction successfully without a TIN number. Faniyi made this remark at a sensitization programme organized by FIRS in partnership with the Nigeria Customs Service (NCS) to get importers to register for TIN in a kind of one-stop arrangement, where the importer or freight forwarder may not need to undergo needless documentation with the Customs, as getting the TIN removes all this. The FIRS Director said the TIN ushers in a new way of doing business in Nigeria, adding that once you have your TIN, all your particulars will be loaded inside so that for any transaction, you don’t need to do much documentation because all your data will show when the TIN number is lodged in electronically. He stated that people needed to visit the nearest FIRS office to register or register on line from the confines of their office without having to visit the tax office. Dera Nnadi, representative of the Nigeria Customs Service (NCS), told stakeholders in the Maritime Industry especially importers and exporters to take advantage of the TIN, as this will make it faster to get their goods cleared rather than the tedious documentation process. “Instead of registering with the FIRS and also registering with us, we want you to use the same document to do your transaction. Once you get your TIN, you give us the number when you want to import or export your goods; once we key into the system all your information will appear and that will make the business faster,” he said.

The Team Emeka Okoroanyanwu Group Business Editor Amechi Ogbonna Deputy Business Editor Omodele Adigun Assistant Business Editor Moses Akaigwe Ime Ola Foster Obi Isaac Anumihe Chima Nwokoji Uche Usim Louis Iba Dennis Mernyi Maduka Nweke Adewale Sanyaolu Kelechi Mgboji Bimbo Oyesola Bisi Olaleye

: : : : : : : : : : : : :

Motoring Agribusiness Maritime Banking/Finance, Abuja Banking/Finance Aviation Energy Energy, Abuja Insurance Industry Capital Market Labour Telecommunication/ICT

Festus Odume, Blaise Udunze Charles Nwaoguji, Chinenye Anuforo Oloke Tokunbo, Steve Agbota, Walter Ukaegbu Contributors ’Niyi Okiri Production Editor Ben. Njoku, Ifeoma G. Obi, Favour Onwuka Layout & Design Businessweek is a weekly publication of THE SUN Publishing Ltd., 2 Coscharis Street, Kirikiri Industrial Layout, Apapa PMB 22776, Ikeja, Lagos. 01-8983893, 01-5875560 website: www.sunnewsonline.com

• Ms Arunma Oteh, director general, Security and Exchange Commission, Mr Chamberlain Peterside, commissioner of Finance, Rivers State, and Mr Ebenezer Olufowose, executive director, Financial Markets, Access Bank Plc., at the just-concluded Nigeria Banking and Capital Markets conference, organised by Euromoney in Lagos, recently.

N1.2trn oil facilities under threat CONT’D FROM PAGE 25

ment, which makes the operating environment quite unfriendly for both existing and even prospective investors. Enoch Kanawa, executive secretary of Jetties and Petroleum Tank Farm Owners Association of Nigeria (JEPTFON), told Daily Sun that most operators have been severely crippled by the ‘deliberate policy’ of the Federal Government not to settle outstanding fuel subsidy debts owned by the Petroleum Support Fund (PSF). Citing examples of the seizure of depot facilities, and head office of Integrated Oil & Gas by the Nigerian Maritime Administration and Safety Agency (NIMASA) a fornight ago, Kanawa said it was “illegal and unlawful” for the agency to invade the premises of a firm and seal it off for accepting a throughput deal it considered as ‘stolen products’. Emmanuel Ihenacho, a former Interior minister, who was abducted and his assets seized at the instance of ex-militants working for NIMASA, said: “It was Mr. Tompolo, an ex-militant, who abducted me. The armed unit at NIMASA could very well be said to be a private army, which is now being used for personal political purposes other than for Nigerian maritime capacity development.” While corroborating him, Kanawa said the regulatory agencies were acting out a ‘script’ to run investors out of business. “Our members have been bleeding excessively as a result of the wishful and deliberate policy of government to withhold fuel subsidy re-imbursements,” Kanawa said, noting also that the on-going onslaught on jetties and tank farm owners by NIMASA was “a carefully scripted agenda by some persons in government to send members and their employees out of business. “This is the worst time for oil

and gas operators in this industry,” the chief executive of one of marketing firms whose depot is located at the Apapa Ports in Lagos told Daily Sun. “Right now everyone who took a loan to import petrol under the subsidy repayment regime is in big trouble because the government not only failed to pay back, but they also delayed in payment leaving us with huge interest to pay back to the banks. The banks are threatening to seize our assets, and are even demanding for payment of default on interest rate payment and so there is no way out. I tell you this is hell for everyone,” he added. Ihem Ohia, secretary of Depot and Petroleum Products Marketers Association (DAPPMA), said the transactions were done on a minimum of 22 per cent but that marketers were paying about N3.7 billion per month to service loans from banks. Said Ohia: “Our members’ businesses are under the threat of extinction due to the non-payment of the huge sums of legitimate facilities that have been verified under the subsidy scheme. He said it was important to stress that members financed the importation on behalf of the Federal Government, with loans borrowed from Nigerian banks at ridiculous interest rates.” The worsening fate of operators in this business could rightly be traced to the rot in the downstream sector of the oil and gas industry which led to the deterioration of four state owned refineries and allied facilities like depots, pipelines, and jetties. This trend has thus turned the nation – a major global crude oil producer – into net importer of refined products. To ensure that consumers do not pay such high international rate which the products were imported, particularly for petrol, the government introduced the subsidy scheme which allowed it to offset or payback marketers any added cost incurred by them

above the regulated pump price of the products. For petrol, government agreed to refund marketers or importers additional N43 above the N140 per litre landing cost to enable them sell the product to consumers at the recommended N97 per litre. Government’s liberalization of the industry which was to allow private sector investment in infrastructure such as depots, jetties and tank farms as well as to engage in importation and distribution of products saw a lot of indigenous firms committing funds into this sector. Consequently about N1.2 trillion worth of assets has been created in the industry by local investors who also created about 300,000 jobs for Nigerians. Meanwhile, stakeholders have advocated total deregulation of the industry as the panacea to the

subsidy payment regime and to attract more investors to build refineries, Ihenacho while proffering solutions to the crisis in the sector said “the Federal Government and the national security establishment should quickly review the propriety of the unprecedented development of armed unit within the NIMASA organization.” But without any doubt, respite for these dying operators may not come soon, as when the Petroleum Industry Bill (PIB) is still hanging between the walls of the Presidency and the National Assembly stressing it is this piece of legislation alone that would clearly provide the legal teeth that defines how the industry should be managed to the benefit of operators, regulators and consumers.

Nigeria’s monthly phone calls CONT’D FROM PAGE 25 to hit N106bn Former Executive Vice Chairman, Nigerian Communications Commission (NCC), Ernest Ndukwe, has predicted during the Nigerian Telecoms Awards, organized by Logica Group recently, that active telephone subscriptions in the country would surpass 105 million in the next three months, including December 2012. However, according to the latest statistics for the month of July 2012, released by the NCC, there are about 103 million telecoms subscribers currently on all the telecoms networks in the country. While the industry ARPU in Nigeria was estimated at around N1,011, according to the Business Monitor International Limited (BMI), and subscriber base of 103 million in the month of July, the outgoings by Nigerian subscribers in July was conservatively valued at N104 billion monthly. ARPU is the financial benchmark used globally by telecoms companies to measure the average monthly or yearly revenue generated from an average subscriber. The expenditure increased from N100 billion in January 2012 when active industry subscriber base was estimated at 99 million by the NCC, to reach N104 billion in seven months after into the month of July when subscriber base hit 103 million. With the industry projection by Ndukwe on the industry records,telcos will have 105 million active telecoms subscribers by the end of December, 2012, and with industry ARPU of N1,011, Nigerians subscribers are billed to spend an average of N106 billion monthly.

Businessweek SEPTEMBER 24, 2012

CEO INTERVIEW

FRED IJEWERE

Nigeria can net $45bn yearly from Diaspora – Fred Ijewere By OMODELE ADIGUN

ith $10 billion inflow into this country annually, which is just a tip of the iceberg-a mere 22 per cent of capital inflows from all sources, the nation stands the chance of netting about $45 billion from its citizens in the Diaspora. According to Mr Fred Ijewere, managing director of LearnAfrica Plc. (formerly Longman), rather than seeing Nigerians living abroad as brain drain, the nation should begin to view their staying overseas as brain gain. How? He explains: “Look at the remittances by those in the Diaspora into this country. It was recorded last year that it was $10 billion that has come in to this country. That is a significant amount of fund. In the world economic outlook, the World Bank actually stated that that $10 billion only represents about 22 per cent of the actual inflows from all sources. If you extrapolate that, you end up with close to $45 billion coming into this country annually from Nigerians in the Diaspora. Now if Nigerians in the Diaspora, estimated by the World Bank figure at about 20 million, are generating close to $45 billion, for goodness sake! [Is that] brain drain? What they are earning is significantly brain gain.” Giving tips on what should be done to tap into this vast treasure, Ijewere, a Chartered Accountant, who took over the company last year, canvassed for adequate channels of harnessing the chances towards project development. In this interview, he explains more. Excerpts:

As MD It’s been very challenging. It’s the reason why we came on board in the first instance. And those challenges, we’ve been taking time to understudy the people, the processes and gain their confidence that they are satisfied that this new board and management team have at heart the welfare and benefits of all stakeholders- shareholders, employees, creditors and debtors- of this company in taking the company, as it changes from Longman to LearnAfrica, to a brighter future in the next five to 10 years. From Longman to LearnAfrica The brand, Longman Nigeria Plc, was owned by Pearson. And Pearson divested 51 per cent of its shareholding in the company making it now a wholly owned 100 per cent Nigerian company. And because of that, we have to drop the name Longman Nigeria and develop our own name, which is LearnAfrica Plc. Brain drain Vs brain gain The answer to the question about how best to reverse brain drain has been begging. And it pegged at recent road show outside the country. And could not be really answered. It cannot really be answered because, obviously, of the comfort zone for which those that have taken on brain drain are in. and they do not really think to come back. But rather than seeing them as a loss and an expense from the Nigerian system, you rather look at it from a different perspective, like they said at that event, when you change the way you look at things, the things you look at change. Why for instance, should you have current account? When you have excess fund sitting in the current account, you place some in deposit account to earn interest. And those interests you have earned are your gain. We have [seen] the transformation [that] technology has done for Nigerians. Before, we had one phone line to about 250,000 Nigerians. But now, we have

about one phone line to every two Nigerians. So we have to leverage on technology. Then, also look at the remittances by those in the Diaspora into this country. It was recorded last year that it was $10billion that has come in to this country. That is a significant amount of fund. In the world economic outlook, the World Bank actually stated that that $10billion only represents about 22 per cent of the actual inflows from all sources. If you extrapolate that, you end up with close to $45billion coming into this country annually from Nigerians in the Diaspora. Now if Nigerians in the Diaspora, estimated by the World Bank figure at about 20million, are generating close to $45billion, for goodness sake! [Is that] brain drain? What they are earning is significantly brain gain. The current [foreign] reserves of Nigeria as of June this year was about $36.5billion. And here we are, earning $45billion. That is definitely brain gain. How we harness the brain gain now is what I think our authority should be looking at. There is a lot of issues on ground from issues such as their right to vote; how do you create adequate channels to harnessing these different chances and chan-

• Ijewere nelling them to the development of projects rather than just the consumption, which a lot of those funds are coming for. Challenges Well, the concept of brain drain really, as basic as it is, Nigerians leaving the shores of this country now, and so therefore there is a deficit, there is a gap especially, for instance in the education sector where a lot has moved out not to talk about other professions. Let’s tackle for instance, the education sector and the medical sector. In the education sector, we should now leverage on the availability of technology. We’ve invested so much in telecoms where we are now saying that out of every 100 Nigerians, 58 people have telephones. Out of every 100 Nigerians, 25 have access to the internet. These are significantly wonderful figures. Leverage on it so that this brain drain becomes very positive. Now let be more specific, I have looked into certain practical aspects of it. In the education sector, which is our purview, for instance, I want to propose and advise, not only advice, we would also set up template for the tertiary institutions- that each of them [should ] set up an international office.

“If Nigerians in the Diaspora, estimated by the World Bank figure at about 20 million, are generating close to $45 billion, for goodness sake! [Is that] brain drain? What they are earning is significantly brain gain.”

When you go abroad, all the universities have international student offices. I am saying here in Nigeria, we should also have international office, not necessarily only for students but for faculties. What will be their responsibilities? This is a structured way of allowing cooperation and collaboration between the tertiary institutions and other institutions abroad especially where Nigerians are now teaching, where we say we’ve lost them. Create contact- structured contactwith them. Now I know the universities have what they call liaison office. This is specific for harnessing these Nigerians in Diaspora and other benefits of getting international collaboration. I am not talking about collaboration in which you open an office because you are expecting donations. No! It is collaboration because we can also offer our own talents out so that some Nigerians who are, for instance, professors can utilize these offices and link with others and provide benefits to them. Still going further, these liaison offices you just don’t put staff there, it should be properly kitted with technology that we can afford. Once the technology is there, everyday now you hear of teleconferencing. And they can have lecture there. We can have lecturers out there teaching a whole lots of students in Nigeria.[It’s] everyday practice. Then let’s institutionalise it. I am very serious about it because we want to tap into that brain drain, start bringing them and have access. Even some of the Nigerian professors now, because they can do it, we can also do the reverse. And so because they want to learn from the Nigerian professors here, they too can be on the screen and teach in class in the University of Wisconsin or wherever or University of Texas. And it can also benefits students. And so collaboration, leveraging on technology. Every tertiary institution should have interna-

CONT’D ON PAGE 28

Businessweek SEPTEMBER 24, 2012

CEO INTERVIEW

‘Diaspora can be source of banks’ long term funds’ CONT’D FROM PAGE 27 tional liaison offices. Once you have that, you are not worried again that they are out of reach because they are out of our shores once the technology is there. You now go out into medical field. In the medical field today, there is a lot of what they call telemedicine. Leveraging on technology and implement telemedicine. Because you can ‘t stop these people leaving the shores because they are going to get better returns there. And let’s make that a benefit because they get better and send some home. We can still take advantage of the fact that we can reach them and benefit from their use. Technology transfer Yes, we can actually replicate the magic of the Asian Tiger. The modern day use where a lot of them went back, ours are not coming back because they have got comfort zones there. In their own- the Chinese aspect- there is a lot of discipline, a lot of people there that were sent out and sponsored by the government, they had to come back home. If they don’t come back, they may be imprisoned. Apart from that, we have the fact that a lot of Western world was developing industries in China and so those skills were required in China. And therefore they were able to go back and fix in. And now, we have not built those industries in Nigeria and so we are not expecting them to come back. So our model is going to be quite different. We need to just liaison with them, utilising technology from distance until those challenges which we have in these country such as infrastructural issues, management of corruption- as we have always be talking about- and insecurity. If we can manage those ones properly, then they can start coming home. Now don’t expect them to come home. It is not realistic and so any call for ‘come home and do this’ is just a waste of time and energy. It is fantastic that now is an opportune time now to do it. Kudos to the Nigerian authority because they have managed this economy well. Make no mistake about it. We have a GDP of about 7.3 per cent, and is driving higher. That is fantastic. We are one of the top maybe 20 or 25 countries in the world that have such a GDP. You have inflation hovering in the neighbourhood of about 12 per cent. But they are managing it. The crisis of the sub prime mortgage issues were expected to deal Nigeria a blow but it did not because really our exposure to them was limited. We have about four international (foreign) banks in Nigeria. So if they were pulling out their credits… those that had pulled out their funds out of the capital market, the fund was not significant enough to deal Nigeria a severe blow. But kudos again to the Nigerian authorities. They took proper policy actions managing our interest rates, liquidity ratio, providing liquidity to the system. And so we have a stable situation now. With all that growth. Like one blogger said, yes! Fantastic growth, but no jobs. That is the prob-

• Ijewere

“If Nigerian banks themselves could probably fashion out products that are long term with reasonable interest rates, they will get those long term funds” lem. You have unemployment there, you must tackle that unemployment; Security challenges, you must tackle them. The government is in the position now to start tackling those issues. And once you tackle those issues we are growing. Social vices Those are the symptoms of the issues of unemployment. Our unemployment rate is high, it is about 26 per cent now. Figure has shown. That is high. But there are opportunities there and there is a gap. What is the gap? First of all, you have about 20 million Nigerians that have moved out, a lot of middle class has moved out. Nobody has filled that. Those that are unemployed can not filled it because they don ‘t have the skills to fill it (the gap).Number two, we have churned out a lot of graduates who are in the Arts, Business Administration, Sociology, English and so on but not in the technical skills. And they are not filling these areas. So the unemployment is not strictly that there are no opportunities but that we really need to retrain a lot of those who are coming out of our institutions to fit into these opportunities. And so we need that quickly. That an area where government should focus on. Lending That is still a major problem. In the banking sector, the interest rates are high. And they lend to the sectors that do turn around because a lot of the funds that they have themselves are shortterm funds. They don ‘t have long term funds to take that risks so they can’t take big risk portfolio. So that is why they are not lending long term. The banks themselves are in dilemma. And I think the Central Bank is trying to address that, to provide and help them manage sources of long term funds. This has got to a situation where the banks themselves can take long term funds from those in the Diaspora and bring them here. It could be a source of long term funds. Although a lot of them are working from hand to mouth. But there are still quite some of them that have propensity to save. If the Nigerian banks themselves could probably fashion out products that are long term with reasonable interest rates, they will get those long term funds. And let them channel it into the manufacturing sector. And the manufacturers will start performing. Obviously, one of their biggest problems has been the absence of infrastructure especially power which the government is tackling right now. But we still have a long way to go. The power situation has improved wonderfully well within the

• Ijewere past two weeks (then). But they should try to do even more better. And those high costs of production are what make our own products very expensive and we cannot compete. So we have to resort to importing. So we import about 70 per cent of what we require and [the rest]30 per cent we are utilising locally and keeping our industries going. That is how we have been able to balance that. Mass failure The recent results released by WEAC showed that about 38.5 per cent of the students got five credits and above. Even that is an improvement on the last year’s[results]. But that notwithstanding, this has been the range we have been for the past five years which is not good. We can do much more better than that. So there is a gap, there is a problem. How do we resolve that problem? We produce educational books and the Curriculum. Is it the educational curriculum or is it the books? What is happening? The children, are they not reading the books? Or are they reading it and they do not understand it? Who are those teaching [them]? We’ve talked about brain drain. A lot of teachers have moved on to other areas. So there is a gap. We have a huge population, we are about 150 to 160 million. What is the teacher-student ratio right now? Nigeria has one of the highest teachers-students’ ratio which is about 1:40; it is even much higher than that. But at1:40, we are about the highest [in Africa]. Nigeria, Malawi and one other country. Every other nation is well below that. That ratio is not good in terms of teachers’ interaction with the students. So the students are having difficulties to pick up in some of these subjects. Now two other areas.The teachers themselves, [they need] capacity building. We need to train them. Alot of training we want to do. This is why we, at LearnAfrica Plc, are not only publishing books, we have fully owned subsidiary which focuses on teacher training. There is huge gap there and teachers need to be trained and retrained to catch up not only with the new curriculum but also with the new techniques of impacting technology into the students. There is a lot of interactive media available now. Teachers need to know that. Before, when one was growing up, distractions were few. It is either you went to play soccer and be seen physically neglecting your studies. Nowadays, the child is in his room, you don’t know whether he’s neglecting his studies[or not] because he is busy on his computers, laptops and is being distracted. So there is huge distraction

there. So you now need to look into that and tackle what is it that the equipment is giving to the child that the book is not delivering. And we have looked into that and it is[all] about what we call the five Es – Engagement, Exploration, Explanation, Elaboration and Evaluation. These five Es are what the child gets from these toys and equipment. We need to now get teacher to build these five Es into what he is teaching the students. You must engage the students. After you’ve engaged the students, the students need to explore. After he explores, he gets a bit of problem, he needs explanation. The teacher should be ready to give explanation. Once he gets that explanation, the student goes further now and he elaborates. And after elaboration, you give evaluation as much as you can. All of these five Es is what the game does. The child goes into these things, he explores it. When he gets stuck, he gets explanation immediately. He goes further and needs evaluation to get the score. He gets 10 out of 20. And the child feels he wants to do better and he stops there and start all over the whole game again. So the whole cycle is revolving around the child’s game. The children must have [all] these in the curriculum they are given and in their books. This is called constructive instruction that delivers value to a child and the child is able to assimilate better. That is not to say that the current practice is wrong. No! The current practice where we are guiding the children on how to study must be mixed with constructive instruction – so that you get better results from the children. Expansion First of all, LearnAfrica, over the years has had a good financial base. And has been very prudent in its management. Because of that, we are able to fund our expansion. LearnAfrica now is moving into Ghana, LearnAfrica is moving into Tanzania and Uganda. We are taking benefits of the fact that we are now a fully owned Nigerian company. So at LearnAfrica, we want to have our representation in Africa. In terms of funding, like I said, we have good financial base, we are going to be prudent with its management. The areas that we are going into are measured and calculated risks. And steps are taken to make sure that they do not have impacts on the normal core business of providing books for the Nigerian market.

Businessweek SEPTEMBER 24, 2012

AGRIBIZ Agriculture and food business programme debuts on TV and radio

griculture and Food Business, an informative, educative and enlightening 30 minutes Agricultural and Food based TV and radio programme, sponsored by the Bank of Agriculture (BoA) has commenced broadcast this quarter. Agriculture and Food Business programme on TV and radio is an initiative of Nextmedia Limited for the Bank of Agriculture, and is part of the bank’s rebranding process, which commenced early this year with internal and external rebranding, as well as a multi media campaign. Other rebranding BoA campaigns, asides TV and radio programmes, include a documentary, outdoor billboard poster, event and as well as print, radio and television spot adverts. The 30 minutes programme creates quality awareness among viewers and listeners nationwide consisting of low, medium to high networth farmers, businessmen, women and entrepreneurs in the agricultural sector of the economy, professionals, retirees, individuals, co-operatives etc., who are, or wish to go into agric related and agro-allied businesses, with particular emphasis on financing and profitability on a sustainable basis. While exploring the countless opportunities that abound in the agricultural and food sectors, the programme introduces the support, services and solutions to agric related problems they will receive from Bank of Agriculture to increase their production capacity. The Managing Director/Chief Executive Officer of the bank, Dr. Mohammed K. Santuraki, who headlined the maiden editions of the programme, said that although the bank had faced so many challenges, it has been able to disburse over N44 billion loan since its inception (and intends to give more). Dr. Santuraki added that BoA has created jobs and support to co-operatives in their quest to expand, improve and grow the agric and food sector, as well as allied industries, as disbursement is a continuous exercise.

PZ invests in palm oil plantations in C’River By SIMEON MPAMUGOH

inister of National Planning, Shamsuddeen Usman, has commended Paterson Zochonis (PZ) Nigeria, makers of Cussons range of products, for investing in the palm oil sub sector in the country, saying the development effort complements government’s agricultural transformation agenda. The minister, who made this remark while receiving the directors of the company in his office, encouraged the company to liaise with the Agriculture Ministry to benefit from the support, which the government offers for investment in the sector. “Your expansion into agriculture and huge investment in oil palm shows that you are here for the long haul, not for short term gains. The story needs to be told that you are actually rising to the development challenge that the government has given to the private sector,” the minister said. In his remarks, the Chief Executive of PZ Cussons, Christos Giannopoulos, lamented that Nigeria has lost its status as the biggest producer of palm oil, promising that his company will work to help the country regain its enviable status. He revealed that palm oil plantation and refinery is the company’s new business interest; adding it has already acquired 30,000 hectares of palm oil plantation in Cross River State. Mr. Giannopoulos also introduced PZ Wilmar a new division of the group of companies, which intends to invest about N100 billion over the next five to seven years in oil palm plantations.

‘Farmers need good infrastructure’ By IME OLA

rofessor Adebiyi Daramola is the vice chancellor of the Federal University of Technology (FUTA), Akure. A professor of Agric Economics, he stressed the need to promote economic growth through agriculture in this interview with Daily Sun.

Rising food prices The impact of high and volatile food prices is negative on the consumers. It has reduced the quality and quantity of food Nigerians can consume. Many Nigerians have been pushed below the poverty level. What we have witnessed in the last four years is inflation, which is now in the double digit. The last figure I read in the papers was 12.6 per cent. The reason for this is very clear. The socalled subsidy on petroleum price was removed. Energy tariff was reviewed upward. With these two, every aspect of the economy was affected because the increase in the petroleum pump price, as well as increase in electricity tariffs, which we called energy tax cut across every sector. Everybody is touched, no matter how remote or direct. Everybody utilises one form of transportation or the other to work or business place. The farmer goes to farm everyday. We use transport everyday. Transport cost in every mode has gone up. For farmers the impact is negative. This is because of the impact of energy tax and electricity tariff, which has gone up. You discovered that it is a tax on the system. It has led to inflation. Input prices are high. There are supply-side constraints such as transport costs and storage limitations. The producers pass the cost to consumers. That is what has led to the rise in the price of food produce and other consumer products. However, the good news is that the Government’s Growth Enhancement Support Scheme is working. The Federal Government is working with the Ministry of Agriculture and Rural Development to create an enabling environment for food production to thrive. There is an increasing effort to support private sector to invest in the sector. In practice, the scheme would lead to positive supply response. However, a comprehensive tracking data is needed to enable regulators monitor information on the frequency and volume of transactions across the sector. This will help the Government to determine at any point in time, what is driving food prices. On the whole, micro and macro economic management is very important in the face of this challenge. Farming is not attractive Agriculture in all ramifications in Nigeria is underdeveloped. The sector is dominated by small-scale farmers who produce about 80 per cent of the total food requirement. Illiterates and unskilled workers represent the majority of population in the farming sector. However, Illiteracy is one of the factors militating against agricultural development in Nigeria. Usually, such low literacy level does not allow the farmers to appreciate innovations in agricultural development. Low literacy rates also hamper farmers, as well as the farming community. We use obsolete technology – we still use hoes and cutlasses. All these interact and affect the agricultural sector, resulting in low production. Because of this, educated people are not going into farming business. The elites and enlightened investors are not encouraged to take advantage of potential opportunities in agriculture. Because the sector is dominated largely by people who don’t have formal education, there is a large pool of unskilled labour in the industry. Consequently, productivity is low. Unlike, what obtains in developed countries, and even some countries in Africa, where there is an enabling environment for skilled labour to participate in food production. This has made giving a recipe for a successful enterprise in the agricultural sector difficult. High degrees of uncertainty currently exist for producers wishing to enter the sector. We need educated farm-

• Prof. Daramola ers to strengthen local economies, bring new jobs and new businesses. Agricultural growth and food security Agricultural growth has a critical role in food security and poverty reduction. It stimulates long-term growth and development. Agriculture enhances food security by promoting economic growth, which improves income. Given our population growth ,facilitating expansion of the sector can promote broadbased income growth and poverty reduction as well as ensure food security for Nigeria. Historically, agricultural growth has been the way out of poverty for developed countries. Gross Domestic Product (GDP) growth generated in agriculture is said to be at least twice as effective in reducing poverty as growth generated by other sectors. Farmers need good infrastructure. Irrigation, roads and power all make a difference in food production. It is estimated that 40 per cent of farm produce is lost on the way to the market. Such losses can make commercial farming unviable. Roads are the best way to link farmers to markets. Lack of electricity has been one major factor, discouraging Nigerians from establishing standard agro business endeavours. In summary, the government should not compromise social expenditure and the funding of essential public investment. Agricultural Transformation Agenda There are many grounds for optimism. Many grounds for real possibilities around the Agricultural Transformation Agenda (ATA). Achievable gains from the programme will provide an increment of up to several percentage points of Gross Domestic Product(GDP). Look at the progress of the 40 percent High Quality Cassava Flour (HQCF) inclusion in wheat flour. The potential of ATA is one very promising approach to enhancing food security. Another source of optimism is the Growth Enhancement Support Scheme(GESS).The programme is unlocking potential gains predicated on a variety of drivers in the value chains which are being affected. We have to appreciate the broad gains which the scheme is delivering to farmers and producers within the supply chains. Providing subsidized input ensures long term sustainability and opportunities for Nigerians involved in farming now and those who are coming into the business in future. Through GESS, the government has found an innovative way of assisting farmers to expand food production. The Minister is just one year in office. He has shown that the Government is capable of providing a strategic direction for agricultural growth. The new dynamism contrasts with the sluggishness and uncertainty of

recovery which had characterized the situation in the agricultural sector. Tasks for the minister, stakeholders and the sector The challenge of our future food supply is not just an issue for government alone. It involves everyone across the food system. It requires the total collaboration involving food producers and processors, retailers, consumers to respond to and manage the challenges facing the system. We need to draw on expertise across the entire food supply chain, encompassing businesses in agriculture, aquaculture and fisheries, food processing and packaging, distribution and logistics, and food retailing. The agric sector supports the livelihoods of a large proportion of Nigerian households. The results have revealed the important role of the agric sector in increasing various measures of GDP and combating food insecurity. Moreover, the sector productivity growth leads to greater factor income growth, particularly labour income. What FUTA is doing to stimulate growth of Agric Sector But we are going to use our School of Agriculture and Agricultural Technology (SAAT) as strategic objective to impact on the immediate environment. Ondo state is within the nation’s agricultural belt. The state produces Cocoa and other tree crops. We have just signed an MoU with Karma industries. The company runs a soya processing factory. We have entered also entered into a partnership with an international company in Brazil. We want to offer a whole new set of opportunities for farmers to diversify their operations and their revenue sources. We want to support existing and new agricultural enterprises and invite farmers to learn from our farming operation and, through services, add value to their current farming businesses. We want to provide the public with the opportunities of learning improved farming systems and technology. The minister of Agriculture just donated two tractors to our School of Agriculture and Agricultural Technology. We are grateful to the Federal Government for that gesture. We are going to expand our land cultivation. As a strategic action, we want to increase Internally Generated Revenue for the university. We intend to increase revenues and enhance the viability of our farm operations. Already, we have FUTA bread, FUTA oil and FUTA table water.We want to have FUTA garri, infact FUTA every thing.We are using the farms to help our students. We have a variety of facilities and activities, such as farm visits, farm tours, demonstration farms, farm stays and more.

30 Businessweek SEPTEMBER 24, 2012 AGRIBIZ

FG unveils plans to boost cocoa production T he Federal Government has announced plans to revolutionise cocoa production as parts of its efforts to restore Nigeria’s lost glory in the production of the cash crop. The Minister of Agriculture and Rural Development, Dr. Akinwunmi Adeshina, made this known recently at Warewa in Ogun State, during the inauguration of Frangada Natural Cocoa Powder, produced by the MultiTrex Integrated Foods Plc. Adeshina said the Federal Government intended to double annual cocoa production from 250,000 to 500,000 metric tonnes by 2015. He said a Cocoa Transformation Team, led by Dr. Peter Aikpokodion, had been put in place to facilitate the realisation of the objective. The minister said the development had become necessary to restore Nigeria’s pride of place in global cocoa production. Adesina, who recalled that Nigeria was the

second largest producer of cocoa globally, expressed regrets that the country had dropped to a distant fourth. “In addition, we have become a dumping ground for imported food. Nigeria today, spends N1.2 trillion in importing wheat, rice, sugar and fish “As we import, we spend our foreign exchange, making farmers of other countries richer,’’ he said. He said that the ministry would be focusing on maximising yield per unit land area on the current 650,000 hectares of active plantation through inputs like agrochemicals and fertilisers. “To this end, the customised Cocoa-Growth Enhancement Support Programme (CocoaGES) is being implemented.’’ The minister explained that the programme was aimed at supporting the vulnerable cocoa farmers to access critical yield enhancing inputs.

• A cocoa farmer and his son removing cocoa seeds from the pods

Adesina said there were plans by Federal Government to partner with the private sector to rehabilitate 200,000 hectares of land in the next four years for cocoa production. “The ministry has already sent an initial team The cooperative societies were requested to of experts to Indonesia to study the country’s pay 25 percent of the government loan without any interest at the initial stage while the remaining amount was to be paid back. Other benefits from government include provision of bore-holes, refrigerators and cooling ameroon and the International Institute van, to facilitate evacuation and preservation of of Tropical Agriculture (IITA) have the fishes and availability of markets for the agreed to join forces more than ever products. before to improve agriculture, create wealth The Commissioner pointed out that the pro- and reduce poverty in both rural and urban gramme would enable the Ministry assess their areas. performance as the year go by, adding that the The Central African country pledged to work state’s vision to increase fish production and more closely with IITAto tap the vast agriculturmake them available at affordable prices to the al innovations and technologies with a view to shrinking yield gaps, and improving productivipeople would be pursued vigorously. Also speaking at the event, Senator Bareeu ty. The Cameroonian Minister of Agriculture, Olugbenga Ashafa representing Lagos East Senatorial District noted that it was a new dawn Mr. Essimi Menye reaffirmed his country’s deciand additional efforts of the government in the sion during the four-day visit of the Director General of IITA, Dr Nteranya Sanginga. fishing sector. Mr. Menye commended IITA for the support given to his country over the past years that has seen improvements in the yield of crops such as cassava. He also thanked IITA for providing his country with improved maize varieties and praised the Institute’s efforts in combating crop pests and diseases. The agriculture minister said he was impressed with IITA’s cassava value addition efforts in Nigeria and would visit IITA’s headquarters in Ibadan, in the near future, to see for himself innovations that could benefit his country. The Director General of IITA, Dr Nteranya Sanginga promised that IITA would continue to help grow Cameroonian agriculture in a manner that the country becomes a major player in Central Africa.

Lagos distributes fishing inputs to fishermen

he Lagos State Government has flaggedoff the artisanal fishing inputs service delivery programme at Orimedu Beach, Ibeju Lekki. The State Commissioner for Agriculture and Cooperative, Prince Gbolahan Lawal, in his address said the programme was conceived to increase the production of sea foods and to empower fishermen in the State. Gbolahan Lawal also pointed out that selected cooperative societies have been chosen all over the state and donations to the cooperatives would be based on their requests, adding that Ibeju Lekki LCDA were the first to benefit. He further said over N3 milion was spent by government to purchase various sizes of fishing nets, boats, power engines, ropes freezers, refrigerating vans amongst others, which were distributed to the five cooperatives societies during the programme.

(Right) Senator Gbenga Ashafa and Commissioner of Agriculture and Cooperatives, Prince Gbolahan Lawal, distributing complete fishing input to beneficiaries

impressive cocoa plantation strategy. “We are also in consultation with key State Governments and private sector on the implementation of this strategy.’’ He added that the Federal Government had concluded plans to professionalise cocoa production by investing incapacity building for producers in agricultural practices. “We have developed a Memorandum of Understanding with the Cocoa Livelihood Programme of the World Cocoa Foundation (WCF) to train the first batch of 70,000 farmers and strengthen 100 farmers’ groups. “In addition, work is in progress to develop a Cocoa Marketing and Trade Corporation, which will be private sector-driven and government enabled to coordinate the cocoa value chain in the interest of all actors,” he added.

Cameroon, IITA step up efforts to increase yields

He said the Institute’s new research agenda provided an opportunity for Cameroon and other tropical countries to tap innovations that would improve the livelihoods of farmers, eradicate poverty in the region and also tackle the growing unemployment among youths. According to him, the Institute’s new strategy offers more emphasis on research, capacity building and training, which are prerequisite for sustainable agricultural development. At the moment, gaps exits in the productivity of many crops in Cameroon. For instance, local varieties of cassava have yields of less than 10 tons per hectare, compared with improved varieties that offer up to 30 tons per hectare. Between 2000 and 2010, IITA-improved varieties disseminated to farmers helped the country to raise production from 1.9 million tons to 3 million tons according to the Food and Agriculture Organization (FAO). Dr Sanginga said if the Cameroonian government and IITA step up team efforts and commit more resources to agriculture, the country could realize more than the 3 million tons per annum figure. The Permanent Secretary, Ms Ebelle Etame Rebecca, said IITA ‘is a reliable partner’ in finding solutions to agricultural problems. The Minister for External Relations, Mr. Pierre Moukoko Mbonjo said government would provide support to IITA’s station in Cameroon with a view to ensuring that the station serves not just Cameroon but also the whole of the Central African sub region.

Kwara’s N70bn rice project takes off December

wara State has moved closer to establishing itself as a hub for agriculture in the West African sub-region as its joint venture partner for the N70 billion rice cultivation and processing project, Valsolar S.L. 2006 of Spain, said the project will start by December 2012. According to a statement by the Senior Special Assistant to the Governor on Media and Communications, Dr. Muideen Akorede, this follows Valsolar S.L 2006’s acquisition of funds for the project that has an initial life span of four years. Conveying the news to the Kwara State Government last week, Valsolar S. L. 2006 said, following its board’s earlier approval and subsequent acquisition of funds for the project, it was ready to commence operations within the next 90 days.

Reacting to the news, Kwara State Governor, Alhaji Abdulfatah Ahmed welcomed the development as the project is key to his administration’s efforts to provide food for the people, jobs for the youths and inputs for agro-allied industries while at the same time growing the state’s economy through agriculture. He said, “I am particularly pleased that this project will be generating 12000 jobs across the value chain as well as substantially growing the state’s economy. Our farmers will also benefit from the technology transfer component of the project. No doubt, this huge project is one of several envisaged under the Kwara State Agricultural Modernization Plan (KAMP) the implementation of which is soon to commence.” Speaking further on the project details, Mr. Abayomi Ogunsola, Senior Special Assistant to the Governor on

Investment, Policy and Strategy, said under the terms of the joint venture Memorandum of Agreement signed by the state government and Valsolar S.L last February in Ilorin, the company is to invest N70 billion in the project over the next four years, while the state government will provide 20000 hectares of land, as well as infrastructural support for the project which will operate under a registered joint venture company, Valsolar-Kwara Limited. According to Ogunsola, each annual module of the project will see the company cultivate 5000 hectares of land and produce 40000 tons of rice for local and international consumption. “Following satellite and laboratory soil analyses earlier in the year, Valsolar-Kwara has decided to site the projects in communities along the River Niger in Kwara North, namely Tsonga, Pategi, Bacita and Lafiagi,” he said.

• Gov. Ahmed

Businessweek SEPTEMBER 24, 2012

TAX ISSUES

VAT revenue trends up to N469bn

he Federal Government’s coffers have swelled by over N469 billion from Value Added Tax (VAT) with less than four months to end of the year, as Federal Inland Revenue Service (FIRS) revs up activities to hit 2012 revenue target. VAT is a consumption tax payable on the goods and services consumed by any person, whether government agencies, business organizations or individuals. The target of VAT is consumption of goods and services and unless an item is specifically exempted by law, the consumer is liable to the tax. It can also be defined as a tax on spending/consumption levied at every stage of a transaction but eventually borne by the final consumer of such goods and services. It is levied at the rate of 5 per cent. A check by Tax Issues shows that the total VAT collection from January to August stood at N469.25 billion. Quarterly analysis shows that N175.9 billion was raked in the first quarter of the year. This comprised N135.7 billion from non-import VAT, while Nigeria Customs Service (NCS) -Import VAT made up the rest-N40.14billion or 3.42 per cent-of the total figure. In the second quarter, VAT receipts amounted to N179 billion with NCS-import VAT accounting for N40.02 billion and non-import VAT’s N139 billion made up the rest. As for July VAT, the Nigeria Customs Service (NCS) Import and Non-Import Value Added Tax dropped to N53.91billion from N59.22 billion. In August, both the Nigeria Customs Service (NCS) Import and Non-Import Value Added Tax rose to N60.4 billion from July’s N53.91 billion. Although VAT was embraced by many countries early, It did not make its way into Nigeria until 1993 through the VATAct No 102 of 1993 as a replacement of the Sales Tax , operated under Federal Government legislated Decree No.7 of 1986 but administered by the states and Federal Capital Territory. Due to the constant movement of people and goods across the West African region, the Economic Community for West African States (ECOWAS) adopted a uniform VAT protocol because of the need to subject them to similar circumstances. Despite the fact that Nigeria was a signatory to the protocol , it currently operates a VAT law contrary to the ECOWAS protocol. Most critically is the fact that Nigeria operates the lowest VAT rate across Africa sub region-5 per cent, whereas ECOWAS recommends a 15 per cent VAT rate (although with Nigeria’s influence, the advisory rate has been dropped to 10 per cent).

N469.25bn

VATcollection from January to August

Lands ministry generates N244m revenue in C’River

he Cross River State Ministry of Lands and Housing says it has generated about N244.62 million to government’s coffers as at the end of 2011 fiscal year. The state Commissioner for Lands and Housing, Mr Raphael Uche, who disclosed this, while briefing newsmen on the efforts of his ministry to meet targeted goals recently, said the above amount represents levies and fees collected from lands, as well as other business transactions. Uche said apart from this feat, his ministry has also done very well in meeting its two main strategic objectives, six initiatives and 33 activities. According to him, one of such strategic objectives include the establishment and implementation of a comprehensive and uniform state-wide urban and rural planned land use to promote physical socio-economic and environmental development. He added that in order to fulfill the said objectives, “Messrs CPCS Transcom Ltd in association with Fola Konsult (Nigeria) and Malore Givens Parson (MGP, Canada) were appointed as consultants for the preparation of a fully integrated, comprehensive Urban and Regional Development Master plan. “Urban Development Master Plan can be said to be 85 percent completed. In order to resolve the perennial problems, Messrs TTI Ltd were commissioned to carry out feasibility study of the computerization of land administration using Geographic Information System (GIS),” he stated. Uche disclosed that the Cross River State government has approved the sum of N216,467,151,45 as compensation to owners of lands acquired by government for projects across the state. He further disclosed that 121 applications for certificates of occupancy (C of O) were treated while 324 consents were granted, adding that 202 building plans were approved. The commissioner, however, enumerated the challenges of his ministry to include delay in the release of funds from the office of the Accountant-General, perennial electricity power outages, and lack of adequate man power, amongst others.

FIRS grosses over N3trn tax revenue in 8 months Stories by OMODELE ADIGUN

arring any hitches, the Federal Government may surpass the N5.085 trillion tax revenue target for this year, as the Federal Inland Revenue Service (FIRS) has so far netted N3.368 trillion within eight months. Findings by Tax Issues shows that the figure is about N416 billion or 14.1 per cent higher than the N2.952 trillion netted within the same period in 2011. It will be recalled that the amount of tax revenue garnered by the Federal Government within four years was over N12 trillion, which far exceeded the target for the period.That figure ticks up to N15 trillion if the amount January to August amount is added. Within the four-year period, 2008 to 2011, the nation earned N12.637 trillion from both oil and non-oil taxes, about N2.32 trillion or 22.5 per cent higher that the N10.315 trillion tax revenue target for the period. A breakdown of the target

• Jonathan and receipts for the period shows that the target of N2.27 trillion in 2008 was exceeded by N70 billion or 31 per cent to N2.97 trillion. But in 2009, the target was smaller at N1.91 trillion while the actual collection soared to N2.20 trillion. The target for 2010 was N2.51 trillion and N2.839 trillion was raked in. In 2011, the set target was N3.625 trillion and actual collection ballooned to N4.628 trillion. This shows that the Federal Inland Revenue Service (FIRS) sur-

• Ngama passed the government target by over N1 trillion. The acting Executive Chairman of FIRS, Alhaji Kabir Mashi, had on assumption of office early April charged both management and staff of the Service to be proactive and ensure that the progressive history of tax revenue collection over the years does not drop. This year, the organization recorded the highest monthly collection of N554.03 billion in June, followed by N466.86 billion in February; N385.17

billion in April and N369.38 billion in January. The rest are N336.21 billion in March and N328.02 billion in May and N524.12 billion in July. In August, the revenue collected by the organization was up by more than 44 per cent as it netted over N438 billion. Although it was more than N135 billion higher than its monthly target of N302.96 billion, the August receipts was down by 19.6 per cent when compared with the previous month’s figure of N524.12 billion.

Statement of taxation standards for tax practitioners

he Chartered Institute of Taxation of Nigeria (CITN) pursuant to its functions, contained in (CITN) Act, Cap. C10, LFN 2004, is poised to codify a Statement of Taxation Standards for tax practitioners. The purpose of this Statement is to guide members on how to conduct themselves in the course of practising their profession or relating with clients. Where acting for a client, a member of CITN places his professional expertise at the disposal of that client and, in so doing, the member must, therefore, exercise reasonable skill and care when acting for a client. Failure to exercise such reasonable skill and care may cause a member to be liable for negligence in the discharge of his professional duties. A member of CITN must understand the duties and responsibilities in respect of the client and the risks associated with failure to adequately discharge those duties and responsibilities. The member must manage the risks associated with advising a particular client. In order to do so, the member must assess his ability to discharge his duty of care to that client in respect of the matters on which the advice

PAYING TAXES has been sought or the work to be undertaken. A member has a duty of care to the taxpayer both in contract and in tort when he accepts instructions from his clients. The duty of care in contract will exist whether or not an engagement letter is issued. If a member fails to properly exercise his duty of care, he may be held to be negligent and liable to the taxpayer for the damage or harm he has caused. In appropriate circumstances, he may be charged for professional misconduct before the CITN Disciplinary Tribunal upon recommendation by an investigative panel. A member should insist on or instigate a letter of engagement to clearly delineate the scope of his responsibilities. As a professional, there will be expectation that he takes the initiative to do this. Once appointed to act for a taxpayer but before providing services, it is important that a member takes steps to know his client. Knowing the client can be achieved by understanding. A member should confirm in writing for whom he will be

Financial Reporting Council Board, where a member is involved in audit or corporate governance. A member’s determination of whether information is appropriately disclosed by the taxpayer should be based on the facts and the circumstances of the particular case and the authorities regarding disclosure in the applicable tax jurisdiction. If a member recommends a position, but not engaged in preparing or signing of the related tax return; advises the taxpayer concerning appropriate disclosure of the position, then the member shall • Eze be deemed to meet these standards bearing in mind acting and from whom he will be taking instructions. A the consequences that follow. A substantial part of the member should carry out above Statement constitute identity checks to confirm excerpts from the Exposure that a taxpayer is who he Draft of the Statement of claims to be. A member should consider Taxation Standards issued by the Chartered Institute of taking references including references from previous tax Taxation of Nigeria and consultant, if he is a member, awaiting approval by the Council of the Institute after to confirm taxpayer’s suitability as a client. A member a Stakeholders Review Workshop, which might should identify and resolve have been held before the any potential conflict of date of this Publication. interest which might prejuOnce approved, no tax pracdice his appointment. In addition to a duty to the titioner can successfully plead ignorance of the stantaxpayer, a member has a dards applicable in the taxaduty to the tax system. The tion profession. tax system in this respect will include the Federal Inland Revenue Service, the • Eze is the Chairman, Publicity States Boards of Internal & Publications Committee, CITN ezeassociateslaw@yahoo.com Revenue, and possibly the

32 Businessweek SEPTEMBER TAX ISSUES

24, 2012

From PAUL OSUYI, Asaba

hief Clement Ofuani, a Chartered Accountant, has held various appointive positions at the state and national levels, including as the pioneer Commissioner in the Ministry of Economic Planning, Delta State. After May 29, 2011, Chief Ofuani was back to his private practice as the Principal Partner of Ofuani, Maido & Co., a firm of chartered accountants based in Abuja. An indigene of Delta State, the financial expert, in this interview, said an efficient tax system is a better instrument than EFCC and ICPC in fighting corruption. He also spoke on the planned introduction of N5,000 currency. Excerpts! There is serious criticism against the planned introduction of the N5,000 currency note and the CBN wanted to go ahead with the policy, what is your view on this? What I think is that a lot of the debates around the introduction of the N5,000 currency note have been more emotional than rational. The CBN gave reasons for its introduction and, according to them, we are spending too much money managing the lower denominations and that is a massive drain on the national purse. They feel that the vast majority of expenditure occurs at a higher level, which can be accommodated by higher denomination currency, while the lower denomination currency will address the balance of the transactions in the economy, and also the non-usage of coins lead to rounding up of prices. If you go abroad to buy things, you keep finding things of 2.99 pounds, as the case maybe, but in Nigeria it is always N200, N300, N500, hence, they feel that such tend to distort pricing in the system. These are the arguments and they are purely economic but then the emotional part of it is that people feel that where CBN has primed the nation to move towards a cashless economy where credit settlement would be based on credit card, debit card, cheques and so on, other than cash, why would it then want to go into higher denomination currency, especially because it also creates the potentials for large movement of free cash around and once cash is being moved around, you lose audit track and, in some way, that is attributable to the level of corruption in the system. So, people think that it would in itself be some kind of fix stock to the corrupt practices going on. Who is right and who is wrong? The CBN has also argued that if you are talking about fuelling corruption that even corrupt people are turning to dollars as a means of settling issues, so it is neither here nor there. I would want to say that let us evaluate what CBN is saying more critically from the economic perspective. Is there really savings in having higher denomination currency or not? I cannot answer that. If there is savings, then there is an economic justification for it. If truly there is no saving, I do not think it is a wise move, especially because of the sensibilities of the people, which you cannot ignore. We have seen that from experience introduction of higher denominations tend to propel inflation. Don’t you think the introduction of N5,000 note would increase the inflationary trend? In economics, there is really no relationship between currency denomination and inflation, no empirical relationship but, like I said, it is more of an emotional thing that people think it will fuel inflation. On the contrary, CBN is saying that the absence of lower denomination actually lead to rounding up, which creates price distortions. But having said that, if you are settling with credit card, it means that whatever transactions you are engaged in for instance, if you are paying N10,000, you use one credit card and pay, that is like having N10,000 cash as a note. The concern of Nigerians should be how do we move from so much cash transactions to alternative settlement mechanism that provides audit trail because if you purchase something with credit card there are records and that record would help when tracking tax payment, revenue and expenditure patterns, but as long as it is easy to use cash to settle transactions in the economy, of course there would be a whole lot that can be hidden, and that is why we are unable to collect taxes from the rich because they can hide their income in cash and keep it away from the banking system, which they can easily manage. The Federal Government says the econo-

• Ofuani

A robust tax system, best instrument for fighting corruption – Chief Ofuani my is growing with statistics. In your own view, has this growth translated into the betterment of the living standard of the population? The first thing is to try and breakdown the composition of what government calls economic growth. This economic growth is driven largely by improvement in agriculture yield because agriculture contributes 42 per cent of Nigeria’s GDP. Unfortunately it is done mostly at subsistence level, which means that its capacity to provide meaningful employment for Nigerians is really restricted. Now about 20 per cent comes from the oil and gas sector and it is as a result of favourable international crude oil prices but again there is a limit to the number of people that can be employed in the oil sector because of the large level of technology deployment in that area. In terms of the growth translating to higher incomes for families is again really restricted. The one area where middle class is supposed to benefit immensely from national growth is where the manufacturing sector is booming because it has the capacity to employ more people at various cadres from the low level to the very high level income earners and that is where a bulk of the middle class is. Unfortunately as at today manufacturing contributes less than 10 per cent to our national GDP and that is why it is often said that what we are witnessing is jobless growth. That means there is a real growth in the GDP if you measure the size today and compare it with the previous, there is a real growth. Now in terms of how that translates to the lives of the people through increased employment, increased family income, it is not happening because of the defects in the structure of the economy where manufacturing, which is the major creator and which should be the engine room of economic activity, is contributing very insignificantly to the GDP. Even if there is growth, the reality remains that the economy is dwindling for the aver-

age Nigerian, what is the solution to the problem? Is it through poverty alleviation schemes? I don’t agree that the economy is dwindling and like we have said based on the number we have seen, based on the statistics churned out, the GDP is growing, the economy is growing but the problem is how that translates into job growth and into improved incomes for families, which is not happening. And I have said it is because of the limited contribution of the manufacturing sector which is the major area for increased job creation. But I would say the effort the government is making in creating value chain in agriculture over time is going to begin to yield significant fruit in that direction in terms of increased local value added to our agriculture, higher income for farmers and so on. When this begins to happen, the growth will now begin to impact on family incomes. Poverty again, as long as our population is growing at a rate that is as fast as the economy is growing, you are going to have increased poverty and then you are going to have issues with education, people are not coming up with quality skills and quality knowledge. If you are a graduate and you go for interview and you are not found fit to work with the certificate you earned, you continue to be a drain and a burden on society and your family. So the most effective tool to address the incident of poverty is the tool that re-empowers people with skills and knowledge, knowledge that is required by the industry so that as soon as they come, there is a ready responsibility and role for them in the society which they would be remunerated for and that begins to increase aggregate family income. Now you find a family of five with three graduates all unemployed and that is a serious challenge for the family but if something happens now that begins to pull them out of that unemployment into the employment, then poverty begins to diminish for such families.

Let us deviate a bit and talk about corruption. Do you think the government is actually fighting corruption? I think they are sincerely fighting corruption even if with the wrong tools and when I say the wrong tools, I mean it is not about EFCC and ICPC, those to me are sort of reaction to a dumping malaise. In other countries without EFCC and ICPC how did they manage to contain corruption? They contain corruption with robust institutions primarily starting with the revenue collection system. The internal revenue service is a major fighter of corruption because if you are rich, if you make money annually, you have to file a self assessment on oath, then the tax man will collect his bit of revenue back from you. If you file the wrong self assessment you go to jail and that is a huge a penalty for filing wrong assessment. Unfortunately what we have in Nigeria is that one, a practically non-existent identity system that enables us to hold people for who they are, you can answer this name here and answer another name there. Crime is rampant because of theft of identity and that is why we need the Unique National Identity System that is now being propelled by the National Identity Management Commission and it need to be supported because it is major building block of national development. If you really want to tackle corruption, you have to deal with the issue of identity theft in Nigeria, the ease with which people can change their identities. Now the other one is you have a situation where we have 36 largely independent internal revenue services, collecting personal income tax. Therefore it is easy for you to make your money in one state and pay little tax in another state and still be seemed to have met the basic requirements. But if we have it in such a way that there is sharing of data that once money enters your account as income, you can account to the internal revenue service once and for all and that means it will longer be easy for you to live in Onitsha, work in Asaba and pay no tax to anybody. Now if our tax management system is re-organise to become more efficient, it helps us to control the economy, to control behaviour because if you make so much money it is going to reflect in larger bank account or more property that you have to register and so on. There is no way you can hide it. Arobust tax system is the best instrument for fighting corruption and as long as the kind of structure we have in place makes it difficult for the tax system to respond, that is why we run to EFCC and ICPC and when they haul one big man or woman it makes so much news. Corruption is so pervasive simply because people can get away with it. But the blame has been placed on the door steps of the accountants in this country that they connive with companies to give false reports about their financial situations, which has actually affected the economy It will always continue to be the name-calling and finger-pointing about accountants not reporting what is right. We live in one society and we just have to admit our own failings, all of us collectively. If you talk about auditors for instance, the job of an auditor is not to investigate. Professionally if they come to a company, it is the job of the directors to prepare accounts to reflect a true and fair position of the transactions that took place during the year and present this to the auditor to look at and say yes we agree that it thus represent what transpired throughout the year. It is the job of the shareholders to elect directors that would not lie to them. So if you now have situations where directors are constantly cooking up the books, as an accountant there is no way you can audit every single transaction that takes place in an organisation and that is why we use system auditing. How robust is the system to try to gain some confidence on whether the statement they are generating would a true and fair view of the transactions. Now in system auditing, you are also depending on what we call division of responsibilities that is nobody starts a particular transaction and finishes without some other persons, a third party independently having to exercise some supervisory functions. So with that kind of situation, the auditor would expect the statement that the company prepares to reflect what has happened. That also presupposes that there is no collusion but when you come to an organisation where the internal control system has divided up the work to so many people but the person who is to supervise colludes with the person he is supervising and then find everything correct.

Businessweek SEPTEMBER 24, 2012

ESOKO

Briefs American investors eye Nigeria’s sector, pledged $6bn

he Minister of Agriculture, Akinwumi Adesina, has disclosed that American investors have committed to spend $6 billion on Nigerian agriculture based projects. The minster disclosed this whilst signing a Memorandum of Understanding (MOU) with the Tony Elumelu Foundation on agribusiness in Abuja. The minister said the partnership would provide for the establishment of ethanol production sites in the north where 100,000 hectares of land would be used to grow sugarcane, whilst 70,000 hectares of land in the South would be used to grow cassava. The MOU provides for the Tony Elumelu Foundation to act as an investment adviser in order to build the Federal Government’s capacity as well as engage both foreign and domestic investors. Speaking at the signing ceremony, Mr. Tony Elumelu, founder of the Tony Elumelu Foundation and former CEO of UBA said he will use his connections in the banking industry to ensure that affordable loans were made available for farmers. He said African countries adopt improper agricultural policies due to lack of awareness, so the foundation seeks to provide capacity to African governments, and has already executed similar projects in Sierra Leone and Liberia and now the turn of Nigeria.

MasterCard, UN, World Food Programme partner to deliver ‘digital food’

asterCard and the World Food Programme (WFP) recently announced a global partnership that will use digital innovation to help people around the world to break the cycle of hunger and poverty. The game-changing partnership will combine MasterCard’s expertise in electronic payments systems with WFP’s global reach among the world’s hungriest populations to meet the nutritional needs of the most vulnerable. “Our partnership with MasterCard is a great example of how transformative private sector partnerships innovate against hunger,” said Nancy Roman, WFP Director of Communications, Public Policy and Private Partnerships. Roman added that “by drawing on MasterCard’s technical knowhow and international reach, WFP will further develop both its electronic voucher programme that enables hungry families around the globe to buy nutritious food in local markets as well as its online donation mechanism that engages individuals and brands in a global community working together to solve hunger.” Where markets are stable, WFP often distributes vouchers that are redeemable in local shops for food and other staple items. These vouchers help boost local economies while allowing poor communities to receive food assistance with dignity.

Esoko Nigeria Commodity Index MARKET/COMMODITY

WHOLESALE

RETAIL

LAST WEEK’S PRICE

Bag(kg) Price(N)

Price(N)

VARIANCE

P/Kg(N)

W(N)

R(N)

W(N)

R(N)

Bodija Market Oyo State Drum Beans (Olotu) Groundnut (Edible) Garri (White) Maize (White) Palm oil Rice (Imported) Sorghum (Red) Soya Beans

100 100 100 100 25L 50 100 100

25700 18000 9500 7800 5000 8300 7700 12500

Congo Congo Congo Congo Bottle (0.75L) Congo Congo Congo

395 260 100 120 180 280 120 200

326.66 200 83.33 100 240 233.34 100 166.67

24000 18000 9500 7800 5000 8300 7700 12500

370 260 100 120 180 280 120 200

1700 0 0 0 0 0 0 0

25 0 0 0 0 0 0 0

Danwanua Market Kano State Drum Beans (Olotu) Groundnut (Edible) Garri (White) Maize (White) Sorghum (Red) Soya Beans

100 100 60 100 100 100

26000 17320 5200 6400 6240 12400

Tier Tier Tier Tier Tier Tier

630 440 240 165 165 315

258.2 212.62 129.03 65.48 63.48 139.288

26000 18000 5200 6400 6000 12000

630 450 240 165 155 300

0 -680 0 0 240 400

0 -10 0 0 10 15

Gombe Main Market Gombe State Garri (White) Maize (White) Palm oil Rice (Imported) Sorghum (Red) Soya Beans

100 100 25L 50 100 100

6100 7000 5300 8000 7560 12200

Mudu Mudu Bottle (0.75L) Mudu Mudu Mudu

120 100 200 250 110 165

120 83.33 266.67 173.61 86.158 138.982

6100 7000 5300 8000 7500 12000

120 100 200 250 110 160

0 0 0 0 60 200

0 0 0 0 0 5

Igbudu Market Delta State Drum Beans (Olotu) Garri (White) Maize (White) Onion (Violet) Palm oil Rice (Imported) Sorghum (Red) Soya Beans

100 50 100 100 25L 50 100 100

30000

1000

270.27

30000

1000

7700 13500 4500 9000 8500 13300

Paint Bucket Paint Bucket Paint Bucket

350

94.59

350

4L Gallon Paint Bucket Paint Bucket Paint Bucket

1200 800 450 600

300 195.12 112.5 157.95

7700 13500 4500 9000 8500 13300

1200 800 450 600

0 0 0 0 0 0 0 0

Keffi Market Nasarawa State Drum Beans (Olotu) Groundnut (Edible) Garri (White) Maize (White) Rice (Imported) Sorghum (Red) Soya Beans

100 100 100 100 50 100 100

54000 23800 9000 10000 9500 8000 17000

Mudu Mudu Mudu Mudu Mudu Mudu Mudu

540 220 90 100 300 90 170

482.142 189.66 121.62 81.97 241.94 71.43 163.46

50000 22000 9000 10000 9500 8000 17000

500 220 90 100 300 90 170

4000 1800 0 0 0 0 0

40 0 0 0 0 0 0

Mile 12 Market Lagos State Drum Beans (Olotu) Groundnut (Edible) Garri (White) Maize (White) Onion (Violet) Palm oil Rice (Imported) Sorghum (Red) Soya Beans

100 100 60 100 100 25L 50 100 100

35200 17000 5900 7900 14000 6000 8420 8300 13800

Paint Bucket Paint Bucket Paint Bucket Paint Bucket

1100 700 280 320

305.56 245.16 96.55 86.49

1100 800 280 320

200 710 400 600

266.67 173.17 100 166.67

3200 1000 400 400 0 0 -80 -1200 800

0 -100 0 0 0

Bottle (0.75L) Paint Bucket Paint Bucket Paint Bucket

32000 16000 5500 7500 14000 6000 8500 9500 13000

Mutum Biu Market Taraba State Groundnut (Edible) Garri (White) Maize (White) Onion (Violet) Palm oil Rice (Imported) Sorghum (Red) Soya Beans

100 100 100 100 30L 50 100 100

11500 7000 5500 7000 5500 8700 6800 10000

Tier Tier Tier

300 150 150

128.21 80.65 55.97

300 150 150

5L Tier Teir Tier

1200 600 200 400

240 270.27 73.53 151.52

11500 7000 5500 7000 5500 8700 6800 10000

0 0 0 0 0 0 0 0

100 100 100 100

Paint Bucket Paint Bucket Paint Bucket Paint Bucket

1400 850 240 350

419.16 236.11 82.76 92.11

Bottle (0.75L) Paint Bucket Paint Bucket Paint Bucket

220 750 350 550

293.33 193.3 87.5 153.63

0 0 0 0 0 0 0 0 0

Paint Bucket Paint Bucket Paint Bucket Paint Bucket

1500 800 230 300

394.74 266.67 79.31 81.08

Bottle (0.75L) Paint Bucket Paint Bucket Paint Bucket

200 800 300 650

266.67 195.12 75 171.05

8000 0 0 0 4000 0 0 0 0

0 0 0 0 0 0 0 0 0

Ogbete Market Enugu State Drum Beans (Olotu) Groundnut (Edible) Garri (White) Maize (White) Onion (Violet) Palm oil Rice (Imported) Sorghum (Red) Soya Beans

25L 50 100 100

38000 21000 4800 8000 12000 5800 7700 8500 15500

Relief Market Anambra State Drum Beans (Olotu) Groundnut (Edible) Garri (White) Maize (White) Onion (Violet) Palm oil Rice (Imported) Sorghum (Red) Soya Beans

100 120 60 100 100 25L 50 120 120

40000 19000 2800 8000 10000 6300 8900 9000 16300

• Source: Esoko Nigeria [Email: info@esokonigeria.com//Tel: +234-1-8501145]

200 750 400 600

1200 600 200 400

38000 21000 4800 8000 12000 5800 7700 8500 15500

1400 850 240 350

32000 19000 2800 8000 6000 6300 8900 9000 16300

1500 800 230 300

220 750 350 550

200 800 300 650

-40 0 0

34 Businessweek SEPTEMBER STOCKWORLD

24, 2012

Briefs Conoil moves to boost cooking gas, lubricants utilisation

orried by the low utilization of cooking gas in the country, indigenous oil marketing firm, Conoil Plc., says it is launching a new scheme that will boost the penetration of the product, ensure higher volume of usage, also create jobs for Nigerians. The new initiative, simply known as ‘Conoil Services Associates’ (COSA), guarantees product availability through branded motorcycles and tricycles. A Press statement by the company described the scheme as “a new dimension to the distribution and marketing of lubricants and domestic gas to mechanic workshops and homes.” “COSA will create direct and indirect employment opportunities and reduce unemployment rate in Nigeria,” the statement said. “Another value addition of COSA to retailers, and invariably end consumers, is reasonable reduction in price.” Through COSA, the first of its kind in petroleum products distribution and marketing in the continent, the volume of the company’s lubricant sales is projected to increase by over one million litres in one year. “The concept is aimed, among several benefits, at improving the delivery of lubricants and cooking gas to the door steps of customers on real-time basis and at affordable prices,” the statement further stated. COSA is also designed as the company’s corporate social responsibility as it is expected to create hundreds of employment opportunities and promote entrepreneurship among fresh graduates. It would be recalled that Conoil recently announced, plans to invest N1.5 billion to re-invigorate the totally deregulated and high margin-yielding lubricant business over a four-year period with projected revenue of N33 billion over same period. Towards achieving this projection, the company upgraded its filling lines at its Apapa Plant and constructed new ones in Port Harcourt and Kano to generate additional volumes. The Chairman of the company, Dr. Mike Adenuga, at its last annual general meeting, promised shareholders that the company would continue to invest in initiatives that would offer new choices to customers and also consolidate Conoil’s dominant position in the downstream petroleum sector.

Dangote goes global, plans to invest in Myanmar, Iraq, Indonesia ...Enjoins local investors to invest more in Nigeria By BLAISE UDUNZE

ndications have emerged that the President/CE, Dangote Group, Alhaji Aliko Dangote, is planning to take Dangote Cement, his flagship company, into the rest of the world, starting with Iraq and Myanmar, where plant construction could begin next year. After that, Indonesia, Brazil and Chile are all on the list, with Dangote planning to reach 60 million tonnes of annual production outside Africa, on top of 40 million within the continent, and so achieve a target of 100 million tonnes of annual output in the next five years. If that sounds ambitious, it’s no more remarkable than what the Nigerian billionaire has already done. With interests including mining, construction and agriculture, he is the dominant force in the country’s business community. And in cement he has already established himself as the biggest investor in sub-sahara Africa with plants under construction in 13 countries. Dangote Cement, which was listed in Lagos last year, is planning a London listing next year, with Dangote Industries, Dangote’s unlisted holding company, selling a stake of around 20 per cent, reducing its interest to 75 per cent. At today’s market cap of around $13 billion, the share sale could be worth $2.6 billion. But Dangote recently said the money would not be going in to cash-rich Dangote Cement but into other investments. So, it seems that the expansion out of Africa will, at least for a while, be financed without recourse to the equity markets. Asked why he is investing outside Africa, when there is so much to be done within the continent, he says that some opportunities – such as entering Myanmar as it opens up – may later disappear. Dangote wants to make Dangote Cement a global company. “We want to globalise,” he said in an interview in London, “because the markets in sub-Saharan Africa are limited in terms of cement production, though not in terms of other sectors.” He emphasised that the company needs to diversify, not just to grow bigger, but to spread risk. Referring to Africa’s sometimes volatile economic and political course, he said, “In Africa, we have issues. Elsewhere there are different issues. We need to be global.” Meanwhile, Dangote said Foreign investors will find the Nigerian economy attractive for moreforeign direct investments if local investors should increase their level of investments.

• Brian Richard, vice president of Operation Kahala (left), and Udo Anya, Sales Director, Guinness Nigeria, at the Grand Opening of Domino’s’ Pizza and Stone Creamery, Victoria Island, Lagos, recently.

N18.5bn bond squandered – Imo Govt • ‘No, we handed N13.3bn to Okorocha’ By KELECHI MGBOJI

nending controversy has continued to trail the N18.5 billion Imo Government bond proceeds issued in 2010 by immediate past administration of Mr. Ikedi Ohakim. While the sitting government of Mr. Rochas Okorocha claims that there was nothing to show for the N5.5 billion bond proceeds, which they claimed previous government had partly spent, the former Finance Commissioner in Ohakim’s administration, Mr. George Irechukwu, countered that, saying work done with the bond proceeds are verifiable. When our correspondent visited Imo State on investigation on how the bond proceeds was managed, it was discov-

ered that work was yet to commence on the lake, which used to be called ‘K Beach’, short for Kalabari Beach. Residents of the area, who pleaded anonymity for fear of persecution, told Daily Sun that the beach has turned to a haven for criminals, especially kidnappers, citing specific instance when local vigilante group in a nearby village had to rescue a kidnapped hostage, who fought the kidnappers to a standstill around 9pm in February, this year. However, the Oguta Motel expected to play host to tourists coming to the Wonder Lake had been substantially renovated, and is now wearing new looks, a project residents confirmed was renovated before Okorocha assumed office. The state commissioner for

finance, Mr. Chike Okafor, regretted that even as the past administration tied substantial part of the bond proceeds on the Oguta Wonder Lake project, the money it claimed to have spent on the project was merely wasted. “There is nothing to show for it. The Wonder Lake project only existed in the internet. There was nothing to justify the money Ohakim’s government claimed to have spent on the project. It was only recently this administration went there to build a conference centre,” Okafor stated. But when contacted, former Finance Commissioner, George Irechukwu, faulted some of government’s claims saying their administration handed N13.288 billion to Okorocha, insisting that Governor Rochas Okorocha

‘CAC has achieved 24-hour registration via fibre optic upgrade’ From IKENNA EMEWU, Abuja

he success or failure in policies by organizations is not the lack of ideas or knowledge but the lack of will. Commitment and determination in leadership has formed the hallmark of the success recorded at the country’s companies’ registry, the Corporate Affairs Commission (CAC). These were the opening comments of Mr. Churchill William, director of Public Relations of the CAC to Daily Sun in an exclusive interaction. The will, which he says CAC has garnered in the past three years since the chief executive officer, Alhaji Bello Mahmud, came into office, is what he attributes the success the corporation has made in the handling of business registration within 24 hours, and at an upper limit of four days. He said: “When the present Registrar-General of the

Commission, Mahmud assumed duty three years ago, he ran into turbulent waters. The economy was down, placing registration activities at its lowest ebb. This affected revenue and the consequent inability to meet expectations. Services became epileptic and this in some cases generated conflicts between customers and management of the Commission. “The leadership of the Commission was not daunted, gradually putting into practice corporate strategies, which were translated into actions in form of programmes to achieve objectives. The CAC is like a midwife in the investment drive of the country. “Yes, it is true that Nigeria has embarked on various reforms in the past but experience has shown that economic reforms alone will not attract investment into Nigeria. An enabling environment supported by user-friendly services is a major factor for direct foreign

investment. Investors, both local and international, do not invest in a vacuum. Services tailored towards the customers need attract and retain them. This was expected of the CAC and thank God it had achieved that goal. “William exudes satisfaction with the grounds the CAC has covered under the watch of the RG, Mahmud, and attributes this to the resolve to embrace whole scale enhanced ICT infrastructure upgrade. “This has been attested to by the upgrade of the Commission’s Wide Area Network from V-Sat based to a more reliable fibre optic system. The upgrade has been completed for the offices in Lagos (Yaba and Oregun), Enugu and the Minister for Trade and Industry would soon be invited to officially commission the new system which will herald the commencement of full registration services in those offices,” he concluded.

should account for the money and on what projects it was spent. The banker explained that the net bond proceeds amounted to N17.575 billion after deductions were made for 5 percent all parties’ fees, adding that as at May 31, 2011 the Ohakim administration utilized only N4.287 billion. According to him, the amount spent on preliminary work on Imo Wonder Lake Project amounting to N390 million, construction of some critical roads amounted to N3.773 billion, while 25 completed water schemes scattered in different parts of the state gulped N124 million. Irechukwu explained that contract was also awarded for renovation of the Oguta Motel which was expected to play host to tourists at the Wonder Lake, and the contractor mobilized to site with the sum of N100 million. “But as at the time we left office, work done in the hotel was valued at approximately N300 million. If we were fraudulent and reckless with resources of the state, we could have frittered away the money. But we were mindful of the purpose of the fund and the implication of not utilizing it purposefully,” said Irechukwu. Okafor confirmed to Daily Sun that Ohakim’s government handed N13.3 billion to the sitting government but noted that government has applied to Securities and Exchange Commission (SEC) for approval to divert the bond money to projects other than those originally stated in the bond prospectus. He explained that once approval is obtained, government will redirect the purpose of the bond money and utilize it more appropriately, admitting however that the projects intended to tie round the bond proceeds are going to be viable as to generate funds to liquidate the interest as well as the principal.

Businessweek SEPTEMBER 24, 2012

STOCKWORLD

Briefs IFSB, IOSCO set to promote Islamic capital market

he Islamic Financial Services Board (IFSB) and the International Organization of Securities Commissions (IOSCO), two leading global standard-setters, are set to promote Islamic capital market. According to the two regulatory bodies, the growing recognition of the increasing significance of the Islamic capital market, especially in view of rising cross-border transactions, has triggered the need for stronger oversight, greater transparency and more robust disclosure requirements. A statement on Wednesday noted that IOSCO and IFSB, in collaboration with the Securities Commission Malaysia (SC), organised a high-level Roundtable in Kuala Lumpur, themed ‘Disclosure Requirements for Islamic Capital Market Products’. The Roundtable represents a significant step towards the development of international regulatory standards and best practices relating to disclosure requirements for Islamic Capital Market products. The Chairman of the SC, who is also an IOSCO Board member and the Vice-Chair of the IOSCO Emerging Markets Committee Datuk Ranjit Ajit Singh said that as the Islamic capital market expands and becomes more global, it is increasingly important that issues surrounding investor protection and market integrity are addressed from a cross-jurisdictional perspective. “It is, therefore, critical for regulators and standard-setters such as the IFSB and IOSCO to further examine disclosure regimes for Islamic capital market products, with a view to allowing more informed investment decision-making and to promote the further growth of the Islamic capital market.” On his part, the Secretary General, IOSCO was quoted in the statement as saying, “The recent financial crises highlighted the importance of sound disclosure regimes in mitigating systemic risk and building confidence in the financial markets. “Given the tremendous growth of the Islamic finance industry – an increasingly important segment of the global financial markets – it is essential to achieve greater harmonisation in disclosure requirements across jurisdictions where Islamic capital market products are offered.” This is coming on the heels of the Nigerian Stock Exchange couple of weeks ago, partnering with Lotus Capital, to launch the NSE Lotus Islamic Index, designed to track the performance of Shari’ah compliant equities on the floor of the NSE.

Access Bank grows half-year profit by 225%

ccess Bank Plc. has announced an audited Profit Before Tax (PBT) of N30.07 billion for its half-year ended on June 30, 2012. The result shows a quantum leap in key profitability indices. The bank’s Profit After Tax (PAT) grew by a staggering 225 per cent to N26.13 billion, compared to the N8.08 billion recorded in the corresponding period in 2011. Similarly, the bank’s Profit Before Tax (PBT) rose from N12.37 billion recorded for half-year in 2011 to N30.07 billion in June, 2012. This represents a 143 per cent growth over last year’s performance. The impressive performance is also evident in the Bank’s earnings for the period. Gross earnings rose by 103 per cent to N108.7 billion in relation to last year’s figure of N53.65 billion. Commenting on the result, Aigboje Aig-Imoukhuede, the bank’s Group Managing Director/CEO said: “I am pleased to announce that Access Bank has delivered very strong audited results for the first half of 2012, whilst also completing our post merger integration with remarkable success. We are now firmly established as a top tier Nigerian Bank. Leveraging on our sustainability driven business philosophy, robust capital position and the quality of our workforce, I am confident that we will continue to deliver strong returns for our investors in 2012.” Analysts have described the bank’s performance as a valid testament to its financial strength and capacity for sustainable growth. Analysis of the result has shown that Access Bank is already extracting value from its acquisition of Intercontinental Bank by leveraging scale and access to large retail deposit base evidenced by the Bank’s low cost of fund. Readers will recall that Access Bank’s acquisition of Intercontinental Bank significantly altered the ranking of the top five banks in Nigeria. The bank is now firmly in the league of Nigeria’s four largest banks by all metrics. This posture is validated by its customer base of over 5.7 million, network of 310 branches and over 1700 ATM. The bank recently revised its corporate philosophy to highlight its vision of becoming “Africa’s Most Respected Bank.” This vision is underpinned by the bank’s adoption and entrenchment of the principle of Sustainability at the core of its operations. Access Bank obtains its operational legitimacy through commitment to responsible business practice and promotion of sustainable social agenda.

• L–R: Senior Vice President (Operations), Arik Air, Mr Rob Thomas; Managing Director, Mr. Chris Ndulue, and the Vice Chairman of the airline, Senator Aunete Oko, during a Press conference on the suspension of the airline’s domestic operations, at the Murtala Muhammed Airpot, Ikeja, recently. Photo: WALE OLUFADE

Stocks value soar by N603bn in three weeks By CHINENYE ANUFORO

he various initiatives by the management of the Nigerian Stock Exchange (NSE) to reposition the exchange and make the stock market more attractive have started yielding positive impacts, as stocks value appreciated by N603 billion in three weeks. Specifically, the stock market twin indicators, Market Capitalisation and the All-Share Index, soared by 7.76 per cent. Market Capitalisation of traded equities gained a whopping sum of N603 billion from N7.560 trillion to N8.163 trillion, just as the All-Share Index added 1,891.57 points

to close at 25,642.39 points from N23,750.82 points. Market analysts have expressed happiness at the robust activities in the market, just as they adduced different reasons for the growth in the markets’ indicators, while hoping that the growth seen is sustainable in the medium to long-term. Many readily linked the growth in the market to the increased activities of foreign portfolio investors, NSE market making initiative, relative stability in the Nigerian polity/economy; investors strategic positioning for the earnings season, and attractive valuation of a number of stocks that have good fundamentals. Partnership Investment

Company Plc. analysts note that the return of buoyancy to the equities market as seen in the last two weeks is indication that investor confidence is improving. “This is especially as the global economy is still grappling with the aftermath of the financial crisis. The Nigeria stock market crossed the 25,000 mark last week as highly capitalised stocks reached new levels,” the analysts note. “We expect the bulls to remain dominant in the coming week, even as profit taking activities are also expected to increase. Some stocks however still trade below their intrinsic value and are a pick for bargain hunters and value investors,” they added.

Operators fault call for Oteh’s sack By CHINENYE ANUFORO

apital market operators have faulted directives given to the Presidency by the House of Representatives to sack the Director General of the Securities & Exchange Commission, Ms Arunma Oteh, saying it is ‘uncalled for’. Specifically, the Chief Executive Officer, Cowry Asset Managing Limited, Mr. Johnson Chukwu, said the move to sack the SEC DG was the most inappropriate mode to solve problems. “I don't think that the issuance of ultimatum is the most appropriate way to resolve issues, where there is a divergence of position between the Executive and the Legislature. “Such ultimatum instead of serving the larger interest of the society tends to exacerbate the conflict. As the House of Representative knows that it cannot compel the Executive Arm of Government to implement its resolution, the 14 day

ultimate will only widen the areas of conflict between the two arms of government.” Corroborating the Registrar Chief Executive, Capital Market Registrars, Mr Walter Ogogo, argued that the planned sack was not necessary. According to him, government should find a way of settling the issues with her, since she was called back to continue with her functions after her indictment. He urged the House of Representative to interface with the Presidency on the issue, adding that any action outside this will imply ‘washing dirty linen outside.’ Also speaking, an independent investor, Mr. Ameechi Egbo argued that since the law setting up the Commission made provisions for hiring and firing, if there is any need for removal, there is need to follow the law that instituted the Commission. He urged government to take a ‘second look’on her actions, adding that there is no

need for an ultimatum. “The giving of timeliness in a matter that determines SEC DG’s job is not the best. Everyone, be it the lawmakers or presidency has to respect provisions that set up SEC, including the manner of hiring and removal of its serving officers. The presidency should not be stampeded,” he advised. However, the National President, Independent Shareholders Association of Nigeria, Sir, Sunny Nwosu, said: “If she is actually practicing zero tolerance, she has to go. Government should not go into confrontation with the House of representative because they indicted her, they should let her go but the ministry of finance that ought to do that. “They made a mistake of asking her to go and ‘not to sin no more’ after being indicted, and she is already prosecuting some people. If she is practicing zero tolerance, she has to go,” he said.

According to them: “Investors are advised to make investment decisions based on strong fundamentals, investment objective, expected return and risk profile. Portfolio re-balancing is also key at this point in order to reap optimum returns from the financial markets.” Also, Abdul Rasheed Momoh, equities analyst at TWR Stockbrokers Limited, expressed optimism that the market could rise to as high as 27,000 points, after some initial resistance. In a note to clients, he also warned that the recent rise may just be the market’s last dance before entering the earnings season, and that it seems the “market is being pumped up, or ‘fattened up for the kill’ as the stock market is known as a discounting mechanism for future valuation and not a feedback mechanism for current valuations. As such, trying to line day to day economic numbers with what exactly is happening in the stock market typical ends in confusion for most people.” Continuing his analysis, Momoh noted that in the NSE 30 Index, for example, “less than half of the stocks broke their 5-8 years resistance levels, and another set are testing one-year level.” However, while activity in consumer good stocks, banking stocks, and bluechip stocks continue to impact the performance of equities market, insurance and oil/gas stocks have not really impressed investors in terms of their performances. Before now, the stock market had stumble because of activities of investors in favour of fixed income – high yields in the fixed income securities and in the money market were negative factors are playing against equities.

36 Businessweek SEPTEMBER 24, 2012 INVESTMENT GUIDE

Is the market approaching another bubble? T

he Launch of the market making initiative marked a highpoint for the Nigerian stock index as it further ramped up taking WtD and YtD to 2.12% 24.8% respectively. Volume and value of transactions are of mixed fortune; while volume increased by 12%, value declined by 0.21% when compared to the previous week. Stocks with market makers had significant impact on the activity level in terms of trading strengthening the All Share Index and market capitalization which closed at 25,873.31 NGN8.24trillion. The overall market trend reflected bullish dominance as the likes of INTBREW, BAGCO, DIAMONDBNK, FIDSON and WAPCO gained 9.94%, 8.7%, 7.58%, 7.27%and 5.2% respectively. Stocks with market makers have maximum daily change limit of 10%. During the week, Monetary Policy Rate and Cash Reserve Rate were retained at 12% and 1% respectively by the Monetary Policy Committee. The Central Bank announced a seal on lending rates in a bid to prevent any negative effect on the Nigerian capital market and credit crunch on the economy. We expect significant activities in the market on the basis of investors' strategic positioning for profit taking as well as the excitement of market making. Hence, expect further increase in the index level. Corporate actions by GUINNESS, CUTIX are still attracting investors' interest. Over NGN1.2 trillion T-Bills oversubscription Relative attractiveness of different asset classes, on a risk adjusted basis, determines the direction of funds flow within the financial system. As equities market dipped in Q1:2012 (0.38%), on the back of investors scepticism on the outlook for 2012, funds temporarily sought risk-free returns in the fixed income market offering relatively attractive yields (c.16%). CBN has auctioned over NGN717 billion in T-Bills of various maturities in Q3:2012, with over NGN1.2 trillion in excess subscriptions (an average of 160% per issue). This “hot money” has to find alternative short-midterm investment alternatives. Increased positive sentiments, encouraging Q2:2012 results and subsequent upward review of analysts' price forecasts created a wet ground for the bullish market witnessed thus far in the equities market. Although real estate market activity maintained relative stability as Public Private Partnerships offer an

…As NSE-ASI YtD rises to 24.81% upside in 2012, there is convincing evidence to believe that a sizable proportion of unsuccessful T-Bills bids contributed to demand pressure in the equities market. No doubts, the fixed income market remains attractive; macro and micro economic fundamentals look bright; market

Exhibit 4

has kept a bullish trend (24.8%YtD and 17.7% QtD returns), one might then ask: could this be the onset of a bubble in the Nigerian bourse? Macroeconomic indicators and market performance At a benchmark interest rate of 12% and inflation of 11.7%, real return stays at 0.3%. Outlook on output growth

WtD volume and price returns on market made stocks

Top 10 Outperformers Company

FIDSON UBN CUTIX AIICO NEIMETH UTC UAC-PROP NASCON CONTINSURE HONYFLOUR

Current valuation metrics and statistics

WTD Return

YtD Return

47.62% 27.16% 25.83% 20.00% 17.95% 17.54% 15.43% 15.09% 14.75% 14.59%

78.48% -17.92% 16.77% 16.00% -18.52% 28.00% -3.75% 49.63% -20.24% -9.09%

Top 10 Underperformers WTD Return

Company

LIVESTOCK AGLEVENT RTBRISCOE IKEJAHOTEL UBA NAHCO FIDELITYBK PORTPAINT CAP LIVESTOCK

-4.73% -3.70% -2.15% -1.75% -1.50% -1.33% -1.12% -0.94% -0.86% -4.73%

Source: Meristem Research

appears dim in the face of high inflation which is forecast to stay above 12%. While yields on fixed income instruments seem to be dropping (although still relatively attractive) due to increased demand, excess funds are flowing to the equities market which gives better returns. Should the yield environment

remain on the upside, on a risk free adjusted basis, funds are likely to remain in fixed income market. A combination of high yield on it earning assets, lower impairment charge and benign operating expense were adequate to douse the increasing cost of fund in the banking industry. On the average in H1:2012, earnings increased by 110% on the average with ACCESSBANK, DIAMONDBNK, FIDELITYBANK, UBA and FIRSTBANK leading the way. Oil and gas sector tends to be a laggard among the sectoral returns recorded. The sector fails to attract the attention of the investors even though its fundamentals are looking attractive. Although the performances of the players as at Q2:2012 were mixed (increasing cost of operations is impacting earnings), the likes of Total Plc, Oando Plc and Eterna Plc suffered from negative sentiment despite being fundamentally sound. With the sector 2012 P/E of

Price MCap [NGN] [NGN’bn]

% of MCap

P/E -TTM

P/B

RoAE

1.55 9.13 1.90 0.60 0.92 0.67 12.12 6.10 0.70 2.12

0.60% 0.17% 0.07% 0.02% 0.03% 0.10% 0.20% 0.01% 0.08% 4.65%

2.29 x 10.74 x 8.05 x 31.78 x 5.45 x 0.51 x 7.92 4.98 x -0.02 x 4.82 x

0.29 x 0.46 x 1.39 x 0.37 x 0.61 x 0.40 x 0.44 x 2.59 x 0.50 x 0.82 x

2.91% 3.79% 4.31% 12.39% 11.21% 19.11% 1.99% 26.33% 5.82% 0.03 x

49.53 13.75 5.81 1.26 2.17 8.00 16.58 0.98 6.64 383.48

Current valuation metrics and statistics YtD Return

93.06% -5.80% 49.18% -31.76% 74.52% 16.73% 20.55% -37.77% 99.31% 93.06%

Price MCap [NGN] [NGN’bn]

% of MCap

P/E -TTM

P/B

RoAE

1.41 1.30 1.82 1.12 4.60 5.92 1.77 3.15 28.90 1.41

0.02% 0.03% 0.00% 1.62% 0.22% 0.02% 0.60% 0.00% 0.04% 0.02%

13.37 x 5.70 x 7.03 x 1.20 x 20.88 x 15.95 4.87 x 7.59 x 13.35 x 13.37 x

3.17 x 0.33 x 0.47 x 0.26 x 0.75 x 1.75 x 0.35 x 0.89 x 12.62 x 3.17 x

10.39% 3.42% 3.32% 5.57% 13.56% 5.55% 5.20% 5.92% 44.68% 10.39%

1.52 2.52 0.19 133.13 18.24 1.49 49.14 0.30 2.93 1.52

Dividend Yield

0.00% 8.96% 5.62% 8.70% 0.00% 6.68% 8.19% 4.83% 5.49% 0.00%

Dividend Yield

10.00% 0.00% 8.33% 10.00% 6.67% 0.00% 6.50% 13.86% 4.44% 6.84%

5.03x, the counters are underpriced when juxtaposed with our market expected P/E of 13.1x. The industrial goods sector recorded positive growth in turnover and earnings as at Q2:2012; an modest FY performance is expected. The recent rally on the share prices of WAPCO and ASHAKAis an offshoot of the substantial growth in PAT (175.67% and 54.21% respectively). Consumer goods sector performance as at 2012Q2 shows a fair performance. Among the flour millers, HONYFLOUR and DANGFLOUR showed modest performances compared to others in the sector. CADBURY, NESTLE, HONYFLOUR among others recorded significant earnings growth. The sector's P/E of 23.00x shows that the stocks on the average shows that some stocks look relatively overpriced. On the services sector, NAHCO reported a 42% decline in 2012Q2 PAT (with a PE of 15.5x) while RTBRISCOE grew it YoY PAT by 35% as at Q2. REDSTAREX had a dividend yield of 10% with a PE of 5.16x for 2012FY results. Price appreciation of service sector stocks is slow, but prospect tilts to the upside. Major equity markets trended southward in 2011, as the global market struggled against depressing investor confidence. However, some stock markets have recouped the losses on their indices so far in 2012, while others closely trailing behind. The current bullish run on the Nigerian equities market is synonymous with what is obtainable in other global markets with returns soaring as high as 61% in Egypt. This positive sentiment is a reflection of renewed investor confidence across global stock markets. From a 2-yr return perspective, we identify the current market performance as more than a mere recovery from its 2011 losses, but an actual market rally with a 2010FY till date positive return of 8.01%. Comparing the current YtD return in different markets with what they were as at 2010 reveals that current return on equities markets is above levels obtained before the slump in 2011. This further reiterates the reinstatement of investor confidence in a recovery that is trending on a fast track. Market makers and their stocks – A beam light Analysis of the market performances of the counters that were market made accounted for rally observed during the week though the impact wasn't significant in our opinion. Of the sixteen stocks with market makers, nine recorded higher average volume growth compared to the previous week.

Analyst’s Certification and Disclaimer

hile all reasonable care has been taken to ensure that the facts stated herein are accurate and that the ratings, forecasts, estimates, opinions and views contained herein are fair and reasonable, neither the research analysts, officers or employees, shall be in any way responsible for the contents hereof, and no reliance should be placed on the accuracy, fairness or completeness of the information contained in this document. No person accepts any liability whatsoever for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection therewith. For detailed report and more information, please visit our website: www.meristemng.com. ©Meristem Securities Limited 2012.

Businessweek SEPTEMBER 24, 2012

37 Odume Festus odume_festus@yahoo.com 08028894929

FINANCIAL EDGE

Multi-Trex seeks subsidy to remain in business F

ollowing the challenge militating against operators’ in the cocoa processing business in Nigeria, Multi-Trex Integrated Foods Plc., a major player in the industry, has appealed to government at both the federal and state levels to come to the aid of cocoa processors by way of subsidy. Even as the company set to boost its earnings with the introduction of a new product known as ‘Frangada’. Chairman of the company, Chief Bayo Akinola, alongside the Managing Director/Chief Executive Officer, Mr Dimeji Owofemi, made the call at the weekend, while announcing the presence of the new product into the beverage market. For investors that have waited patiently for their return on investments from Multi-Trex, the recent development may help to turn around the fortune of the company, which will lead to bountiful harvest for shareholders. The management of Multi-Trex, which is located at Warewa area of Ogun State along Lagos-Ibadan Expressway, believe that the introduction of their new product will help to raise earnings performance, which has not been encouraging since the company was listed on the floor of Nigerian Stock Exchange (NSE) in 2010. Chief Akinola, who lamented the state of affairs in the cocoa business, noted that their inability to meet investors’ demands as expected necessitated the call for government assistance before the cocoa industry goes into extinction. He explained that the cocoa industry in Nigeria had remained the most neglected sector of the economy, despite its position as one of the most viable agro-allied industries in the world. According to him, Nigeria has the potential of becoming a net exporter of cocoa if the capacity of the existing plantation and factories were enhanced and new ones established, and cocoa farmers encouraged and supported through the provision of credit facilities. He pointed out that cocoa industry is one of the biggest industries in terms of its socioeconomic impact in the country. “Cocoa industry employs more people than the crude oil industry but unfortunately, the industry has been treated very badly over the years.” Reacting to Multi-Trex complains on behalf of cocoa farmers, Minster of Agriculture and Rural Development, Dr

…Set to boost earnings with new products

Custodian & Allied propose 5k amidst drop in profit • GNI Unic Insurance results await regulatory approval

• ETI gets new directors

C • Owofemi

• Adesina

Akinwunmi Adesina, who was present at the occasion said government goal for the Nigerian cocoa industry is to double production to 500,000 Metric tones by 2015. To accomplish this, Dr Adesina said that the Cocoa Transformation Team has developed a three pronged MRE (Maximize, Rehabilitate and Expand) strategy. He explained that government is focusing on maximizing yield per unit land area on the current 650,000 hectres of active plantation through efficient use of critical inputs like agrochemicals, fertilizer and good agricultural practice through the customized Cocoa–Growth Enhancement Support Program (Cocoa - GES) which is being implemented. Adding that in partnership with the private sector, government is supporting the most vulnerable cocoa farmers’ access to critical yield enhancing inputs. The targeted support which is provided through the cocoa GES program includes a discount of 50 percent off the cost to these critical inputs, 200 sachets of approved fungicides, five 50kg bags of NPK fertilizer with 5kg agrolzer and 50 sachets of insecticides. Concerning expansion, the minister of Agriculture said the cocoa team has made a

monumental effort to produce 3.6 million hybrid pods, free of charge to Nigerian farmers and investors, which will produce enough seedlings to establish more than 100,000 hectres new cocoa plantation. On finance, he assured cocoa processors that government has started to address their problems, with the launch of the NIRSAL program that supports agro processors with significant guarantees, While work is in progress to develop a Cocoa Marketing and Trade Corporation, which will be private sector led and government enabled. However, as stakeholders awaits the implementations of these initiative, Mr Dimeji Owofemi, said the name Frangada came as a result of his then five years old daughter in 1995 that could not pronounce grandfather, but instead mispronounced it as ‘Frangada’. Multi-Trex, which started as cocoa beans merchants has not only diversified into cocoa processing but is one of the foremost foods processing industries and biggest cocoa processing industry in Nigeria. It is expected that Multi-Trex management team will leverage on government policies and give investors course to rejoice at the end of industry next financial year.

Access Bank, Cutix sustain growth ccess Bank Plc. and Cutix Plc. released impressive earnings in their respective audited and unaudited 2012 results. For the Aigboje AigImoukhuede-led Access Bank, the bank did not just release encouraging earnings but also rewarded its shareholders with an interim dividend of 25 kobo for the half year audited account. A breakdown of Access Bank Plc. result shows that gross earnings grew from N53,652 billion in 2011 to N108,747 billion in 2012, an increase of 103 per cent. Profit for the period from continuing operations grew from N8,086 million in 2011 to N26,558 million in the period under consideration. Qualification date for the proposed corporate action is October 2, 2012, while the registers of members will close on October 3, 2012 and payment date is October 17, 2012. On the part of Cutix Plc., its first quarter result for the period ended July 31, 2012 shows that profit after tax stood at N23,607 million above N8,146 million that was

LEARNING CENTRE

… As BOC Gases, Chellarams & Niger Insurance earnings drop recorded in 2011. The Anambra state based company total revenue for the period was N396,447 million above N388,886 million in 2011. Meanwhile, in addition to the 12kobo dividend earlier proposed, the company is proposing a bonus issue of two new shares for every three held by members whose names appear in the register of members at the close of business on Friday 12 October 2012. On the flip side, BOC Gases Plc., Chellarams Plc and Niger Insurance Plc. were not able to sustain the performance they recorded in their previous financial year. Although the result were unaudited accounts, which means the companies may rebound as they approach their respective year end. BOC Gases Plc. posted N55.202 million profit after tax in its unaudited first quarter result for the period ended March 31, 2012 which is below N94.607 million it posted in 2011, its earnings per share stood at 14 kobo against 24 kobo in 2011.

Turnover dropped from N609.024 million in 2011 to N504.959 million in 2012. In its statement of financial position, working capital stood at N486.408 million against N481.406 million in 2011. Chellarams Plc. profit after tax dropped to N50,367 million in its first quarter result for the period ended June 30, 2012 against N90,498 million that was realized in 2011 financial year. Chellarams Plc turnover dropped from N6,303 billion in 2011 to N5,930 billion in the period under consideration. For Niger Insurance Plc. that just returned to profit after declaring losses in previous financial year, its second quarter result for the period ended June 30, 2012 posted N204,625 million profit below N255,628 million that was recorded in 2011. Gross premium for the period grew from N3,939 billion in 2011 to N4,246 billion in the period under consideration. Net assets stood at N5,727 billion against N5,489 billion in 2011.

ustodian & Allied Insurance Plc. has proposed an interim dividend of 5kobo in its half year result for the period ended June 30, 2012. Corporate actions and registration of members was carried out on Wednesday and Thursday, respectively. However, Custodian & Allied Insurance Plc’s profit after tax dropped from N1,285 billion in 2011 to N957,825 million in its second quarter result for the period ended June 30, 2012. The insurance company’s premium revenue grew from N3,958 billion in 2011 to N4,584 billion in 2012. The unaudited account shows that Net assets stood at N12,896 billion against N12,382 billion in 2011. Great Nigeria Insurance Plc. and Unic Insurance Plc. have notified the market that the delay in releasing their audited accounts is due to National Insurance Commission (NAICOM) approval. According to the Nigerian Stock Exchange (NSE) the two companies has submitted their 2011 financial year end accounts to the exchange. In addition, Great Nigeria Insurance Plc. submitted its quarterly accounts. The exchange has assured the market that it will release the financial statement as soon as it gets a confirmation that NAICOM has duly approved the audited accounts. Ecobank Transnational Incorporated (ETI) has announced the appointment of four new directors to its board. The new board members include Thierry Tanoh, group chief executive officer designate, Dan Matjila, chief investment officer (CIO) and executive director of public investment corporation (PIC), as a non executive director, Patrick Akinwuntan, group executive domestic bank, as an executive director, and Eddy Ogbogu, group executive, operations and technology, as an executive director. The bank said the boards are delighted to welcome Thierry Tanoh officially to the executive team at Ecobank. He was appointed in 2011 as part of a succession plan put in place as a result of the impending retirement of Mr Arnold Ekpe the incumbent chief executive officer, at the end of 2012. Mr. Tanoh, formerly of the International Finance Corporation (IFC), comes to Ecobank with a wealth of knowledge and experience, having spent the last 18 years with IFC and rising to the position of Vice President for Africa, Latin America and the Caribbean. He is will work with the current CEO of ETI, Mr. Arnold Ekpe, to the end of the year and will formally take over from Mr. Ekpe as Group Chief Executive Officer effective January 1, 2013.

38 Businessweek SEPTEMBER 24, 2012 BUSINESSNEWS Daily Domestic Flight Schedule

ARIK AIR Lag-Abj: 07.15, 09.15, 10.20, 15.20, 16.20, 16.50, 18.45 (Mon-Fri/Sat/Sun). Abj-Lag: 07:15, 09.40,10.20, 12.15, 15.15, 16.15, 17:10, (Mon-Fri/Sat/Sun); 12.15, 15.15, 16.15 (Sun) Lag-PH: 07:15, 11.40, 14.00, 16.10, 17.15 (Mon-Fri) 07.30, 11.40, 15.50 (Sat) 11.50, 3.50, 17.05 (Sun) Abj-PH: 07.15, 11.20, 15.30 (Mon-Fri) 07.15, 16.00 (Sat) 13.10, 16.00 (Sun) PH-Abj: 08.45, 12.50, 17.00 (Mon-Fri) 08.45, 17.30 (Sat) 14.40, 17.30 (Sun) Abv-Beni:08.00, 12.10 (Mon-Fri/Sat) 08.56, 12.10(Sun) Benin-Abj:09.55,13.30, (Mon-Fri/Sat) 10.50, 13.30(Sun)

PRIMARY MARKET AUCTION (PMA)

UBA gets ISO 27001 Certificate for internet banking

TENOR

AMOUNT

RATES% ISSUE DATE

By STEVE AGBOTA

91 Day

37,489.76

12.00

19 Sep. 2012

182 Day 63,730.99

12.60

19 Sep. 2012

1 Year

13.87

05 Sep. 2012

60,000.00

MAJOR EXCHANGE RATES – PARALLEL MKT (AIRPORT AS AT 21/09/12) CURRENCY

BUYING (N)

USD 158 POUND ST. 250 EURO 206 Source: FMDA

SELLING(N) 159.50 153 210

nited Bank for Africa (UBA), one of the leading banking and financial services institutions in Africa, has achieved the distinguished mark of ISO 27001 Certification for its Internet Banking application and Data Centre operations. The feat further validates UBA’s commitment to continuously strengthen the security of services provided to customers. It also accentuates the bank’s deliberate efforts towards combining bestof-breed technology with the best of manpower to create and be the industry benchmark in Risk Management. The security of the bank’s systems and information is essential to its safety and soundness, and to the privacy of customer financial information. As a result, UBAhas put in place and maintains truly effective information security as it continuously integrates processes, people and tech-

nology to mitigate risk in accordance with risk assessment and acceptable risk tolerance levels. The nature of today’s banking environment is such that any breach to information systems can cause major disruptions and loss. Considering the increasing dependence and pervasive use of information and supporting information systems, the Internet Banking and Data Centre operations were identified as critical to the bank. “As a leader in the e-Banking landscape on the continent, we are committed to providing safe and secure electronic banking experience for our teeming customers. Consequently we have made significant investment in Information security and fraud detection solutions, enhanced our internal processes and training for our personnel. “This certification is an important benchmark in our quest to ensuring that we are always up-todate in managing information Security and electronic banking risks,” said Mr. Emmanuel Nnorom, executive director, Risk Management, UBA.

Los-Abv: 09.55, 13.30(Mon-Fri/Sat) 10.50, 13.30(Sun) Lag-Enugu: 07.10, 13.45, 18.30(Mon-Fri) 07.10, 14.00(Sat) 10.20, 13.45, 18.30(Sun) Enugu-Lag: 08.30, 12.00, 18.25 (Mon-Fri) 08.30, 12.00, 15.40(Sat) 12,00, 18.25(Sun) Abj-Enugu: 08.30, 12.00, 18.25, (Mon-Fri) 08.30, 12.00, 15.40 (Sat)12.00, 18.25 (Sun) Abj-Enugu: 10.30, 17.05(Mon-Fri) 10.30(Sat) 17.05(Sun) Enugu-Abj: 08.50, 15.25 (Mon-Fri) 08.50 (Sat) 15.25(Sun) AERO CONTRACTORS Lag-Abj: 06.50, 13.30, 16.30, 19.45 (MonFri/Sat/Sun), 12.30(Sun) 16.45(Sat) Abj-Los: 07.30, 13.00, 19.00 (Mon-Fri/-Sat, 10.30, 14.30, 19.30 (Sun, 18.30 Sat) Lag-Benin: 07.45, 11.00, 15.30 (MonFri/Sat/Sun) 12.30 (Sun 15.30 (Sat) Ben-Lag: 09.15, 12.30, 17.00 (MonFri/Sat/Sun) 17.00 (Sat) 14.00 (Sun) CHANCHANGI AIRLINES Los-Abj: 7.15, 10.00, 13.30, 15.30, 17.30 Abj-Lag: 08.00, 11.45, 13.40, 15.30, 17.30 Lag-Kad: 10.45 (on Fri), 17.00 (MonFri/Sat/Sun) Kad-Lag: 7.30 (Mon-Fri), 08.00 (Sat/Sun IRS AIRLINES Lag-Abj: 9.45, 11.45, 2.45 (Mon-Fri), 9.30, 12.45 (Sat & Sun) Lag-Kano: 6.15 (Mon-Fri), 16.30 Sat&Sun Kano-Lag: 07.30 (Mon-Fri), 10.30 (Sat & Sun) OVERLAND AIRWAYS LAGOS LOS - ILR Mon - Fri 0715hrs LOS - MNA Mon, Wed & Fri 0715hrs LOS - IBA Mon - Fri 0715hrs

IBADAN IBA - ABV Mon - Fri IBA - LOS Mon - Fri

0800hrs 1700hrs

ILORIN ILR - ABV Mon - Fri 0900hrs ILR - LOS Mon - Fri 1630hrs ILR - MNA Mon, Wed & Fri 0900hrs MINNA MNA - ABV Mon, Wed & Fri MNA - ILR Mon, Wed & Fri MNA - LOS Mon, Wed & Fri ABUJA ABV - ILR Mon - Fri ABV - IBA Mon - Fri

0920hrs 1520hrs 1520hrs

1500hrs 1500hrs

• L–R: Mr John Ugbe, MD, MultiChoice Nigeria; Mrs Biola Alabi, MD, M-Net Africa; Dr Armstrong Idachara, zonal director, Lagos, National Broadcasting Commission; Mr Mayo Okunola, GM, DStv Mobile, and Mrs Busola Adeogun Philips, regional director, DStv Media sales, during last week’s Press conference launch of Walka 7 and iDrifta devices, held at the Civic Centre in Lagos.

CBN sets up N100bn intervention fund for women entrepreneurs She noted that creating this intervention fund By CHARLES NWAOGUJI

n line with its plan to boost businesses owned and managed by women, the Central Bank of Nigeria (CBN) may have set aside N100 million intervention fund for women enterprises. The Director General of Nigeria Employers Consultative Association (NECA), Mr. Olusegun Oshinowo, who disclosed this in Lagos last week, said the funds would go a long way in complementing government’s economic transformation agenda. Oshinowo, who spoke at NECA’s Network of Entrepreneurial Women (NNEW) network meeting, noted that the fund would assist women entrepreneurs grow their business and create more job opportunities for the youths. The NECA boss further stated that the CBN had already set-up a committee to work out modalities on how the disbursement of the fund would be made to beneficiaries. “It is expected that once the committee comes out

with the workability of the project, it would come forward on how to access appropriate working capital for women entrepreneurs, various funding opportunities available for SMEs operators and how operators can benefit from them,” he said. He observed that if properly disbursed to the beneficiaries and well utilized it would create more jobs for the youths and women. According to the Chief Executive Officer of Gracefields Multi-Options Limited, Ms. Regina Amadi, it has remained an uphill task for women SME operators to access funds from banks. In her words, approaching banks and getting good response from them has been so difficult, but with this fund that would be made available to the women, access to fund by women will be easier. She said that statistics had shown that women are better off at paying back loans granted them, against which they should not be given daunting repayment conditions.

was key to the sustainable economic development of Nigeria, as it was the only means of creating solid foundation for economic activities at the grassroots. She observed that the significant contributions SMEs are making to Nigeria’s economy, especially in addressing key challenges of sustainable economic development and wealth creation, must be encouraged through granting of low interest credit. Also speaking at the event, the President of NECA’s Network of Entrepreneurial Women (NNEW), Mrs. Lola Okanlawon, said that the greatest challenges facing many women entrepreneurs are in areas of financing their businesses. According her, this is because they are either faced with daunting repayment conditions from financial institutions or are unaware of SME friendly schemes that have been put in place to assist them.

Local content: 25 foreign firms to set-up plants in Nigeria By LOUIS IBA

ost on imported equipment by operators and contractors in Nigeria’s oil and gas industry could be slashed by as much as 30 per cent in the next three years, as the industry expects 25 globally recognized manufacturing firms to cite their plants in the country. Ernest Nwapa, executive secretary of the Nigerian Content Development Board (NCDB), said the influx of the foreign firms was courtesy of the ‘equipment components manufacturing initiative’ which the regulatory agency for local content started to implement recently. And he forecasts about 10,000 job creation from the establishment of these firms in the country.

“In the next 3-5 years, Nigeria will have over 25 globally recognised ‘original equipment manufacturers’ making their equipment or major components here, either directly or using their Nigerian representatives,” Nwapa said. “Over 30 per cent of total procurement costs for manufactured equipment and spares will be spent in Nigeria. From this segment alone, it is estimated that over 10,000 direct and indirect jobs can be created with a new industrial complex emerging from the exercise,” he added. Nwapa said the implementation of the Nigerian Content Act had started to achieve Federal Government’s aspiration of transforming the oil and gas sector from an importer of over 95 per cent of the industry needs a few years ago to one that manufactures inputs used in the industry and other sec-

tors of the national economy. Nwapa also noted that the industry which used to create millions of jobs in foreign economies had begun to generate jobs for Nigerians through the development of facilities in-country where work are being executed while indigenes of host communities were becoming active participants in the activities of the industry, thereby creating growth in knowledge, wealth and general wellbeing. Nwapa further explained that the Board’s implementation efforts will be targeted towards ensuring the training of Nigerians to the highest international standards, supporting companies that set up facilities in Nigeria, working with the Nigerian Content Support Fund to drive down fund costs to local entrepreneurs and feeding work into the local industry being created.

Businessweek SEPTEMBER 24, 2012

BUSINESS NEWS TENOR

SWAP

Spot

FORWARD FIXING

DATE

157.6700 / 157.7700

21 Sep, 2012

7 Day

0.3458 / 0.3460

158.0158 / 158.1160

07 Sep, 2012

14 Day

0.7318 / 0.7322

158.4018 / 158.5022

21 Sep, 2012

21 Day

1.1587 / 1.1594

158.8287 / 158.9294

21 Sep, 2012

30 Day

1.7674 / 1.7685

159.4374 / 159.5385

21 Sep, 2012

60 Day

3.6767 / 3.6791

161.3467 / 161.4491

21 Sep, 2012

90 Day

5.6971 / 5.7007

163.3671 / 163.4707

21 Sep, 2012

180 Day

11.4098 /11.4170

169.0798 / 169.1870

21 Sep, 2012

NITTY YIELD CURVE TENOR 1 Month 2 Months 3 Months 6 Months 9 Months 12 Months Source: FMDA

RATE 13.7090 14.1561 14.1986 14.2121 14.2786 14.4566

CHANGE 0.63 0.81 0.81 0.75 0.76 0.74

DATE 21 Sep, 2012 21 Sep, 2012 21 Sep, 2012 21 Sep, 2012 21 Sep, 2012 21 Sep, 2012

From DENNIS MERNYI, Abuja

he Pension Reform Task Team (PRTT) has disclosed plans to commence the payment of the 53 per cent pension increase to all verifiable pensioners under the payroll of the Office of the Head of Service of the Federation. Chairman of the task team, Alhaji Abdulrasheed Maina, who disclosed this on Friday when he hosted the Association of Federal Service Retirees and the Retired Prisons Officers, led by their executive members, in his office in Abuja, stated that government was making efforts to get enough funds to be able to commence payment of the pension increase to living pensioners. “Government is so concerned about the issue of 53 per cent pension increase. Efforts are being made to get funds to implement this. Government is not unmindful of the

plight of pensioners and the fact that their take home is not commensurate with the current economic realities. “I assure you that I will bring up the matter again at the meeting of the Economic Management Team for discussion and possibly on how the funds would be raised to commence payment,” he stated. Maina regretted the inavailability of adequate funds provided for in the budgetary allocation to commence the implementation of the increment promising that the matter would be addressed at the next meeting. Chief Emmanuel Omoyemi, president of the Association of Federal Service Retirees, and Mrs Titilayo Ibeh, national president of Retired Prisons Officers, had complained to the PRTT boss that the current take home by the pensioners was so meager compared to current high purchasing power in the market and pleaded for quick implementation of the pending 53 per cent pension increase.

International Flight Schedule

FG implements 53% pension increment soon

NIFEX YIELD CURVE

Ethiopian Airlines Lagos-Addis Ababa (daily) Departure time: 12:15 pm, Arrival time: 1:15 pm Contact no: 014611869/029

AFRIQIYAH AIRWAYS Lagos-Tripoli Tue, Wed, Thur and Sat Departure time: 01:30am, Arrival time: 22:25 pm Contact no: 012711506 BRITISH AIRWAYS Lagos-London Heathrow (daily) Departure time: 11 pm, Arrival time: 5: 50 pm Contact no: 012792690 0r 014615870-5 TURKISH AIRLINES Lagos-Istanbul Mon, Tue, Thur Sat Departure time: 10: 10 pm, Arrival time: 8: 10 pm Customer care no: Not available DELTA AIR Lagos-Atlanta (daily) Departure time: Btw 3pm and 5pm, Arrival time: 10:30 am Contact no: 014483111 EMIRATES Lagos-Dubai Daily (2 flights) Departure time: 3pm, 8.50pm, Arrival time:1pm, 6pm Contact no :01-2717600 LUFTHANSA Lagos-Frankfurt (daily) Departure time: 10:05 pm, Arrival time: 19:08 Contact no: 014612222, 0414480963 AIR FRANCE Lagos-Paris (daily) Departure time: 11 pm, Arrival time: 14:14 pm Customer care no: 01-4610777, 012617959 SOUTH AFRICAN AIRWAYS Lagos-Johannesburg (daily) Departure time: 10:30 pm, Arrival time: 8 or 9 am Customer care no: 2702681-5

• Chief Finance Officer, Wavetek Nigeria, Mr Joseph Aborowa; Chief Operating Officer, Oxygen Breathe Easy, Mr Wande Adalemo, and Managing Director, Wavetek Nigeria, Mr Ken Spann, at the official unveiling of Wavetek to the media, in Lagos, recently.

Africa’s FDI soars to $88bn By BISI OLALEYE, just back from SA

gainst the backdrop that foreign direct investment (FDI) in top 10 African countries rose from $9 billion in 2000 to more than $88 billion last year, stakeholders in the telecommunications sector have tasked government to show the way in infrastructure planning, rather than leave all to telecommunications companies and investors. This was the submission at the just-concluded 16th Annual Highway Africa (AHA), and 3rd Global Forum for Media Development (GFMD) world conference, held at the Rhodes University, Grahamstown, South Africa, which was sponsored by the MTN Group. The forum noted that opportunities for innovation and transformation of a continent towards an African knowledge economy abound, once government was able to have infrastructure put in place, and make it easier for existing and new network operators to use them, rather than start digging roads whenever

there is need for it. According to the International Monetary Fund (IMF), the world top 10 fastest growing economies include six African countries, Nigeria, Ethiopia, Angola, Chad, Mozambique and Rwanda. Of the number, Angola has experienced 11.1 per cent growth rate, Nigeria 8.9 per cent, Ethiopia 8.4 per cent, Chad 7.9 per cent, Mozambique 7.9 per cent and Rwanda 7.6 per cent. While Sub-saharan Africa is considered the worlof is 5.8 per cent, the United Nations says foreign Direct investment (FDI) in the region has increased from $9 billion in 2000 to more than $ 88 billion today. Krishna Chetty, a director in MTN, South Africa, while citing several limitations ranging from difficulty in getting access to build base stations, multiple taxations and unnecessary bureaucracy to right of way confronting telcos in African countries, stated that Africa would have gone to the next level if government had not traded its duty. Executive Group Corporate Affairs Officer,

Mr. Rich Mkhondo, also stated at the MTN-sponsored dinner that to accelerate the momentum of growth, African governments should champion the setting up of the scene for private sector participation. “Such development models must rest on the pillars of political stability, property rights, access to capital and investment in health and education. He said there was a greater need for transparency, accountability and eradication of corruption. Governments need to develop the right policies and incentives for ideas, capital and businesses to circulate and develop. “This will establish sound, sustainable business institutions, investment, development of infrastructure, build transport links and constructing solid strategies. African governments must continue to support entrepreneurship and small businesses, grow companies that will create a multiplier effect and see Africa rise and rise,” he challenged. Mkhondo noted that Africa has now become a final frontier for investors especially Nigeria that produces two million barrels of oil a day and Ghana is also producing oil for the first time.

Banks barred from granting loans to AMCON debtors By CHIMA TITUS NWOKOJI

eposit money banks will no longer grant loans to individuals, organizations, as well as principal shareholders and directors of companies who are indebted to the Assets Management Corporation of Nigeria (AMCON). This restriction, according to the Central Bank of Nigeria (CBN), applies to debtors who failed to repay their loans to banks and had those loans transferred to AMCON. Such persons and organizations in the initial instance, CBN said, are those whose outstanding loans bought by

the AMCON amounted to N5 billion and above as at the date of purchase, without regard to the actual amount paid by the bad bank. “They are hereby barred from enjoying further credit facilities until they fully repay agreed outstanding to AMCON,” the apex bank directed. The CBN gave this directive over the weekend in a circular to all banks, signed by its Director of Banking Supervision, Mrs. A. O. Martins. It said this was part of the bank’s continuing efforts at strengthening financial stability and entrenching the culture of financial discipline.

“For the avoidance of doubt, any DMB that is in breach of these guidelines shall be required to make an immediate provision of 100 per cent of total principal and interest outstanding in the account of the customer and related parties, in addition to whatever regulatory penalties the Central Bank of Nigeria may decide to impose,” the circular read in part. Among the debtors with outstanding balance above N5 billion are Ankara Overseas Development Company, Nestoil Limited, Suru Worldwide Ventures Limited, Shell Cooperative Thrift Society Limited, Anyiam Osigwe Limited, and over a hundred others.

QATAR AIRWAYS Lagos-Doha Daily Departure time: 9:45 am, Arrival time: 7:55am Contact: 012798888/014633333 KENYA AIRWAYS Lagos-Nairobi (daily) Departure time: 11:05 am, Arrival time: 10:42am Contact: 012719433 CHINA SOUTHERN Lagos-Beijing via Dubai Tuesdays, Thursdays Departure time: 12:15pm, Arrival time: 10:30 am Tuesdays, Thursdays. Contact: 01-4610777 or 01-2617959 EGYPT AIR Lagos-Cairo Mon, Wed, Thur, Fri & Sun Departure time: 2pm, Arrival time: 1pm KLM Lagos-Amsterdam (daily) Departure time: 11pm, Arrival time: 8:30pm Contact: 01-4610777, 01-2617959 VIRGIN ATLANTIC Lagos-London Heathrow (daily) Departure time: 10:20 am daily, Arrival time: 5:30 am Contact: 01-4612750, 01-4612747 ARIK AIR Lagos-London Heathrow (daily) Departure time: 10:05pm Arrival 7.00pm Lagos-New York Tuesdays and Thursdays Departure time: 11:20pm Arrival 6pm Lagos-Johannesburg (daily) Departure 11.15pm Arrival 4.15pm Lagos-West Coast (Freetown, Banjul & Dakar) Mon, Wed & Fri Departure 8:00am Arrival 6.45pm Lagos-Accra (daily) Departure 8.00am, 5pm 8.45pm, 5.45pm Contact: 01-2799999.

40 Businessweek SEPTEMBER 24, 2012 INDUSTRY NEWS Performance contract ’ll be reviewed periodically – Aganga Stories by ADEWALE SANYAOLU he Federal Government has said that the performance contract document signed with directors, chief executive officers of agencies and parastatals under his ministry, would not be static but reviewed periodically to reflect emerging developments. This was stated by the Minister of Trade and Investment, Mr. Olusegun Aganga, at the signing ceremony in Abuja. Aganga explained that the objective of the performance contract was to ensure that those entrusted with leadership positions delivered on their respective mandates to the Nigerian people. Besides, he stated that the Key Performance Indicators were designed after due consultation with the Permanent Secretary, Directors and Chief Executive Officers of various agencies and parastatals within the ministry. “Recall that recently, President Goodluck Jonathan signed a performance contract with all the ministers. It was the first time in the history of Nigeria where ministers were asked to sign performance contract with the President. “This clearly demonstrates that the ministers will be held accountable in terms of delivering on their mandates. On the other hand, ministers are also expected to sign performance contracts with the Permanent Secretaries, Directors-General of all their parastatals and Directors in their ministries. “The objective of signing the performance contract is very clear: we want everybody to be performance -focused. By doing this, we will be focused on how we deploy our human and financial resources to improve the lives and welfare of the Nigerian people,” he added.

Delta North professionals to brainstorm on industrial growth, economic devt

move aimed at transforming the industrial and economy landscape of Delta State has been unveiled by Professionals in the Delta North Senatorial District, under the aegis of Delta North Senatorial Think-Tank (DeNSTT). The initiative is aimed at critically analyzing and proposing innovative ideas and forward looking measures for the social and economic prosperity of the district, the group said in a statement signed by the Chairman, Executive Committee of DeNSTT, Prof Eric Eboh, on September 29, 2012. Eboh, explained that the group had equally concluded arrangements to hold a symposium involving taking stock of the resources and potentials of Delta North, examine innovative strategies to harness them and propose actionable measures and roles and responsibilities for all stakeholders. DeNSTT, according to him, is an alliance of professionals who hail from nine local government areas of Delta North Senatorial District. The think-tank was inaugurated in December 29, 2011 at a forum in Asaba. He said that the alliance is motivated by the need to generate, mobilize and advocate good quality ideas and innovative proposals for the social and economic uplift of the people of the district. The symposium, which holds at Bellwood Hotel, Asaba, will, among others, provide valuable reference to help shape opinions, perspectives and disposition of the district public officers, executive appointees, legislators and political actors in their agenda setting, policy standpoints political representations and developmental efforts.

Southern Sun Ikoyi Hotel unveils Independence package

or its fun loving customers, this is certainly good news as Southern Sun Ikoyi Hotel says it has put together a special package for this year’s Independence Anniversary, in order to make the long weekend a memorable one. The Independence special weekend package, according to a statement from the Hotel’s General Manager, Mr. Mark Loxley, is to be enjoyed by guests who stay in the hotel beginning from September 28 to October 7. Loxley said a special promo rate of N45,000 per room, including buffet breakfast for two, 10 per cent service charge and five per cent VAT will be enjoyed by guests who stay for a minimum of two nights, adding that exotic complimentary fruit platter and cocktail would be served to guests on arrival. Loxley explained that guest would be given an early check in and late check out privileges as well as priority treatment on table reservations during brunch. There would be special Pre- and Independence Day brunch on September 30 and October 1, respectively. In his words: “The brunch is our way of encouraging families and friends celebrate the independence anniversary with a mouth watering spread of local and intercontinental dishes, which guests popularly refer to as our ‘excellent culinary reputation’. “The hotel’s stylish sophistication and classic, contemporary design combined with five star user friendly service delivery provides an uncomplicated approach to giving all our guests a memorable experience. “With an outdoor swimming pool, fitness centre with qualified instructors, sauna/steam rooms with an extended spacious car park facility, Southern Sun as a norm provides comfort to its numerous guests at all levels,” he said.

• L–R: Godwin Nzekwe, Daniel Etuk, both winners, Star Game Show; Victor Ikepba, former Super Eagles striker, and Steven Onyeabor, winner, at the 2012 Star Game Show presentation in Lagos, recently. Photo: AYODELE OJO

Closure of 800 companies: Why mortality rate’ll persist – LCCI boss By CHIMA TITUS NWOKOJI

irector General, Lagos Chamber of Commerce and Industry (LCCI), Muda Yusuf, has said that the closure of about 800 companies in Nigeria between 2009 and 2011 underscores the challenges of business environment that has persisted over the years without significant improvement. “And as long as there is no significant improvement in the business environment, the country will continue to have high mortality rate of companies and small businesses,” Yusuf warned. The President of the Nigerian Association of Chambers of Commerce, Industry Mines and Agriculture (NACCIMA), Dr Herbert Ajayi, had, in a paper presented at a recent zonal workshop on economic diversification, organised by

the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) in Asaba, said no fewer than 800 companies in Nigeria closed shop between 2009 and 2011, due to harsh operating business environment. Ajayi had said more than half of the ‘surviving’ firms had been classified as ‘ailing’, a situation, he said, posed a great threat to the survival of the manufacturing industry that more than 70 per cent of energy it generates. He also said capacity utili-

sation in industries hovered around 30 per cent and 45 per cent on the average, with 100 per cent overhead costs; blaming the continued decline in the manufacturing sectors on ‘political and economic factors’. Among the challenges identified by Yusuf, that led to the closure of most of these companies in Nigeria were the challenges of funding, the challenge of cost of operations, “there is the challenge of regulatory institutions that are supposed to regulate standards, environment and so

“As long as there is no significant improvement in the business environment, the country will continue to have high mortality rate of companies and small businesses”

on, many of which impose a lot of burden on businesses. There is the challenge of influx of substandard products from abroad,” maintained the LCCI boss. Yusuf, in a Channels TV programme monitored by our correspondent, said the businesses are operating in high cost economy where lending rates hover between 25 and 30 per cent; and businesses are spending so much on power generation. According to him, there are multiple taxes from the federal, state, and local governments. He further identified challenges of bureaucracy and corruption at the ports where certain raw materials and equipment must pass through. “By the time you add all these costs and challenges together, how can you survive? So, if you must tackle the issue of high mortality rate of businesses, these are the issues you need to be looking at,” Yusuf stated.

MAN seeks amendment to Income Tax Act

he Manufacturers Association of Nigeria (MAN) has called on the Federal Government to amend some sections of the Companies Income Tax Act CAP C21 LFN 2004, in order to further provide a conducive tax environment for the growth of businesses. Specifically, the association said section 19 of the Act, which requires a company to pay tax based on dividend, should be deleted because it will amount to double taxation and a disincentive to investors, since company income tax is based on profit, saying dividends are allocated from profit after tax, and shareholders pay tax on declared dividends. Also, it stated that section 33, which requires a company to pay a minimum tax, based

on its turnover, net assets or paid-up capital, should be deleted. MAN argued that, it is equally a disincentive to ask a company, which has made a loss genuinely to pay tax based on some parameters, which include its share capital. This, it said, will be tantamount to a reduction of capital, which is not allowed under the provisions of the Companies and Allied Matters Act CAP C20 LFN 2004, saying such companies will be forced to close shop and this will lead to job losses and further compound the unemployment situation in the country. Besides, it called on the relevant tax authorities to include a new section 40A immediately after section 40 to provide for an investment tax credit of 25 per cent of

capital expenditure incurred to provide infrastructure such as electricity and tarred roads where such infrastructure provided by government are ineffective or may have broken down. “The present infrastructure deficiency has compelled a number of manufacturers to provide for themselves basic infrastructure which government should normally provide with the attendant high costs of doing business in the country. A relief is therefore necessary on such costs,” MAN canvassed. On multiple taxations, the manufactures said despite the outcry of the business community over the prevalence of multiple taxes and levies at the three tiers of government, some government agencies are still introducing license fees and levies that constitute

multiple taxation and in some cases, are arbitrary with the latest addition being the imposition of license and mandatory contribution to a Trust Fund by National Lottery Regulatory Commission (NLRC) on its member companies carrying out promotional activities to boost their sales under the prevailing difficult business environment. In this regard, MAN recommend that sales promotions should not be covered by the National Lottery Regulatory Act in order not to add to the cost of doing business in Nigeria, more so as this cannot be in the spirit of the law setting up the Lottery Commission, advising that the law should be restricted to profit oriented lottery activities, such as casinos and national lotteries.

Monday, September 24, 2012 DAILY SUN

Unemployment has made crime a real societal challenge By BIMBOLA OYESOLA

is dream is to turn his union into a big conglomerate, at least to reduce the rate of unemployment and address the societal menace, the scourge has vested upon the nation. With two established business concerns and a commercial hotel billed for opening before the end of the year, Comrade Lateef Oyelekan, National President of the National Union of Food Beverage and Tobacco Employees (NUFBTE) no doubt is set to change the face of trade unionism in the country. He reveals further step taken by his union in transforming into business and the plan to provide over 50 jobs in the new hotel as well as the need for government to put policy in place to protect jobs for Nigerians. Excerpts: Motivation into entrepreneurship We are leaving in a capitalist environment, likewise the world that we exist has never been stagnant. It has always been moving, hence as a union we also need to have focus as well as mission, plan ahead and move with the world. Our plan should not only take cognizance of decade, but a century. In the past the major source of income for organized labour unions is check off dues. But we felt that we can do better and source for another means of income. This becomes necessary as we are reducing in numbers on daily basis due to the current global trend and challenges. Which also invariably means that our income likewise is on the downward side. Our thought brought us to the idea of investing the present money we are earning on check-off, so that we can have other source of income to augment what comes in from the dwindling check-off dues.

â&#x20AC;&#x201C;Com Lateef Oyelekan, NUFBTE President Our investment dated back to 2009 when we built the multi purpose halls, cold storage facility and store. All these are already yielding dividend for the union, as we people rent the halls every weekend and equally they purchase their drinks from our store. In our store we have products from all our companies which we sell at affordable prices. We have equally moved a step ahead by building a commercial hotel also in Lagos and itâ&#x20AC;&#x2122;s at the finishing stage. The hotel has 50 rooms in all, 44 rooms and six suites. Upon completion, the hotel would also serve as a veritable source of income for the union besides the check-off dues. Employment generation Trade unions have been criticizing the government since 1960s, but I believe that the time has come for the movement to change tactics in our relationship with the government. We have to change our styles of approaching issues with the government. Trade unions should begin to look at the idea of doing projects and inviting government to come and commission it. We should also avoid looking up to government or employers for any gratification. Rather we should look at what we can do to add value to our great nation, Nigeria. That is exactly what we conceptualise when we moved the idea of going into the hospitality industry. We believe that when it fully goes into operation, we are going to provide employment to over 50 Nigerians. That I see would surely add value to our society as those engage also would have dependants. Besides the hotel, other related business would also come into being, like supermarket, car hire, swimming pool, aerobic section, business centers, all these would provide jobs for many Nigerians.

Challenges Electricity is the real challenge to the food sector. If electricity is stabilized, the money being used to fuel generators can be used for more positive thing like expansion of the business. Also the monopoly of some of our raw materials has been another bigger challenge. Government should encourage the companies to source for their raw materials, like sugar, independently, rather than putting the raw materials in the hand of an individual who sell it at a cut throat prices. Internal challenge to projects I believe that out of twelve disciples there must be a Judas. Definitely, all of us cannot reason in the same direction. There are some of our members, though very few who did not buy the idea of the union going into business, and this is because of their selfish interest. All of us cannot be the same. Some people want to make money, while some like us believe in integrity and legacy. But the most interesting aspect of it is that some of them have now realized their errors and have started coming back to identify with us. The money we have been earning so far has been very useful to support salary and other expenses. Income With the hotel, our income on monthly basis will shoot to millions. Besides, the multi-purpose halls have generated over N5 million since it started operation. We ensure that we opened a separate account for the project and nobody touches it. The solidarity infinity ventures, which is the store, though has not gotten any added investment for about 3 years now, but it has been a good source of income for the union. We intend to expand it also to cover every other food products

â&#x20AC;˘Oyelekan

from all other companies within our sector. Our target is to become a big conglomerate. Membership loss We have lost millions and so is the money lost through check-off. This year alone almost about 10 companies have called for discussion on redundancy. Those people that would be thrown to the job market would cease to be our members and we can no longer get any check-off from them again. But in all this, there suppose to be check and balances in all these issues of redundancy. Government ought to come out with a policy, most especially as the country has great challenge with unemployment. Issue of unemployment has further make crime a real societal challenge. Government should make a policy that company that is declaring profits should not declare redundancy. Rather they should manage the crisis. But there is nobody from the government checkmating the companies. All they are interested in is making money without thinking of their social responsibility to the country.

DAILY SUN Monday, September 24, 2012

BUSINESS EXTRA Abuja Light Rail: N178m earmarked for compensation From FRED ITUA, Abuja

s part of efforts to douse the growing agitation over the houses and lands to be destroyed with the construction of the Abuja Light Rail, about N178 million has been approved by the Federal Capital Territory (FCT) Administration as compensation and resettlement of villages along the Abuja Light Rail ‘right of way’. FCT Minister, Senator Bala Mohammed stated this during the Good Governance Tour embarked upon by the Federal Ministry of Information which kicked off in Abuja last week. According to Senator Bala, such a proactive action was taken to remove all hindrances that may

delay the deliverance of the project by 2015. Mohammed said the government was committed to completing the Abuja rail project on schedule noting that the project had attained 22 per cent completion stage and in the months ahead would fast tracked with the breakthrough or boost derived from the $500 million credit facility from the Chinese Exim Bank with he said attracted an interest rate of 2.5 per cent. “The contract sum of the project is about $800 million out of which $500 has been borrowed from the Chinese government through Chinese Exim From left: Group Managing Director of the Nigerian National Petroleum Corporation, NNPC Engr. Andrew Yakubu with Mr. Bank with a 2.5 per cent Sheng-Chung Lin, Chairman of the Board CPC Corporation, Taiwan, Chinese Taipei at the LNG Producer-Consumer Conference. interest rate," Mohammaed said.

‘Financial knowledge critical in fight against corruption’ By BLAISE UDUNZE

he Chief Executive Officer, SetGroup Nigeria Limited, Mr. Sanmi Akindipe, has emphasized the need for sound knowledge of money management principles, saying that financial education is the key to financial stability, wealth building and was also critical in the fight against corruption. Speaking at a forum heralding its forthcoming Christian Financial Seminar, Akindipe, who is also a financial consultant in money and capital market issues, blamed the high rate of corruption, stealing and crimes on lack of poor money management skills and lack of financial intelligence. Financial intelligence, according to him, involves the ability to manage money judiciously and ability to make good investment decisions among others. According to him, the high rate of poverty in Nigeria can only be solved by financial intelligence and not by making money available to people. He said financial intelligence, which involves mastering the workings of money, will go a long in helping people overcome the problem of dwindling income, poverty and also ensure the increased inflow of funds over a long period of time. He said, “Financial Illiteracy has created a situation whereby people with fat salary end up borrowing. Poor money management skill has also been the major factor responsible for the prevalence of corruption and stealing.” He disclosed that one of the best money management skills is living under one’s means. He said the forthcoming seminar, scheduled to hold in Lagos, October 6, will teach people ethical money management principles and help them achieve financial freedom using decent means.

Resort Savings, estate agents partner to boost housing By OMODELE ADIGUN

he Managing Director of Resort Savings & Loans Plc, Mr. Bimbo Olayinka, has pledged his assistance to genuine estate agents ready to abide by government regulations in order to solve the lingering housing problem in Lagos State. Olayinka , who disclosed this at a breakfast meeting with the agents, said the mortgage outfit is “ready to help estate developers and subscribers to access the Estate Development Loan (EDL) and NHF Loans.” The fund is the most affordable mortgage loan with a single digit of six per cent interest rate and a repayment period of 30 years. It is the most convenient way to own a house

without stress. He added “We are ready to work with estate agents to make the dreams of many Nigerians own a home at affordable prices.” The two parties at the meeting used the opportunity to discuss on the way forward in the housing sector of the economy. The leader of the estate developer’s agents at the meeting, Mr. Bode Kolawole said “the time has come for us to work together and make it possible for the vision of the federal government to make affordable housing a reality for all Nigerians.” He urged the bank not to relent in its efforts at ensuring that its customers have access to the NHF Fund adding also that estate agents were ready to collaborate with the bank.

FG lost $9.8bn to fraudulent oil firms – NEITI From DENNIS MERNYI, Abuja

he Federal Government might have lost a whooping $9.8 billion to fraudulent oil and gas exploration and exploitation companies, says the Nigeria Extractive Industries Transparency Initiative (NEITI). The fraud and the loss, NEITI noted, took place between 1999 and 2008. Chairman of NEITI Mr. Ledum Mitee therefore has called on all relevant bodies statutorily empowered to recover debts to move ahead and take practical steps to

recover the huge money. Mitee said the $9.8090 billion represented outstanding recoverable funds due to the federation account from the busineses of oil and gas companies operating in the country. Regretting government's failure to implement all the audit reports by NEITI over the years, Mittee explained that this amount which is equivalent to N1.3 trillion at the current exchange rate is significant enough to wipe out the current fiscal deficit in this years federal budget. “The above stated potential revenue loss due from under

assessment/under payments has remained outstanding not just out of the refusal of the companies and covered entities to pay, but also, if not more by the fact that the concerned government agencies have not made sufficient efforts to recover the funds which the country desperately needs especially at this time,” said Mitee. The NEITI Chair gave assurance that for the Board under his leadership to translate NEITI’s objectives into visible impacts in the life of citizens, the revenue accruing to the government as revealed by NEITI audit reports have

to be recovered and paid to into the coffers of the federation. The NEITI report, for instance, revealed that the Federal Government earned a total sum of $269 billion from the oil sector within the period 1999-2008. Within this period, $92 billion was received from oil-specific taxes, the sum of $5 billion from non-oil specific taxes, while $172 billion was received from the sales of government equity crude. “In spite of efforts by NEITI in providing important information and data on who gets what and how in the oil and gas sector, the Audit Reports have not been fully with a cumulative investment utilized to optimize revenue of US$6billion (N930 billion) generation and utilisation for national development over to date.” The minister said that the the years,” lamented Mitee. development of viable free Mitee there demanded for trade zones was critical to the actualization of the Federal the passage of the PIB into Government’s transformation law saying it was as an important legal framework agenda. Aganga assured that the that must be used to address government was committed to all institutional lapses, finanmaking the country’s FTZs cial loopholes and fiscal inadthe hub of trade and invest- equacies in the oil and gas ment within Africa and the sector operations and management. global market.

FDI: Nigeria attracts N930bn through Onne FTZ By STEVE AGBOTA

he Minister of Trade and Investment, Dr. Olusegun Aganga, says Nigeria attracted N930 billion ($6billion) in Foreign Direct Investment (FDI) through the Onne Oil and Gas Free Zone (FTZ). The Minister disclosed this over the weekend at the just concluded Oil and Gas Trade and Investment Forum in Onne, Rivers State. He also said that the operation of the zone since 1997 had led to the creation of 30,000 direct and indirect jobs. Said Aganga “The Onne Oil and Gas Free Zone is today adjudged the single largest and fastest growing free zone in the world dedicated to oil and gas. The establishment of free trade zones in Nigeria is in consonance with the globally-accepted new strategy for engineering industrialization and the promotion of sustainable economic growth and development.” Aganga hinted that free trade zones were an integral part of Nigeria’s trade facilitating mechanism designed to stimulate trade and export activities and attract foreign direct investment. According to him globally, free trade zones have the largest job creation capacity.

“Records have shown that every job in a zone creates two additional jobs through a multiplier process. For us in Nigeria, FTZs are strategic in facilitating the growth of the economy and attracting FDI,” said Aganga. He expressed happiness with the technology, jobs and investments that came into the country through the Onne Zone which he revealed “has culminated in the registration of 150 investors in the zone

We couldn’t avoid owing N85.4bn, says Arik Air By UCHE USIM

rik Air says the N85.4 billion debt it owes commercial banks in the country were clearly unavoidable given the huge volume of risks and business es it was engaged in, and the airline feels it should be commended and not condemned noting it remained a success story as a domestic and international airline. "If our debt is only N85.4 billion, then we've tried considering our investment in the airline business,” said Chris Ndulue, Arik Air’s Managing Director. “There's no way you'll be in the airline business and do it safely and legitimately without owing, not even with the high safety standards we operate,” Ndulue added at

a press briefing held over the weekend in Lagos. CBN had last week, released a list of persons and institutions indebted to various commercial banks in the country (which included Arik Air and Aero) and also advised banks to desist from giving them further credit as their loans are perennially non- performing. But Ndulue told journalists it would have been extremely difficult for regulatory agencies to imagine that an airline as big as Arik with 23 next generation jets acquired brand new not to owe any form of debt. Said Ndulue, “the airline business is not easy. Where on earth will anyone doing legitimate business get money to buy all these jets? Except you

carry and sell the highest volume of drugs in the world. Most people who comment on aviation don't know how it works. It's heavily capital intensive and you don't reap it immediately.” "Most of our loans are from foreign institutions backed up by Nigerian commercial banks. So, if they said they won't give us loans again, then we just have to wait and see how things go", he added. Ndulue described the picketing of the company by labour as unnecessary, adding that the meeting involving the airline, the Secretary to the Government of the Federation, Aviation Minister, members of the National Assembly and aviation parastatal Chiefs was capable of resolving all knotty issues.

DAILY SUN

Bimbola Oyesola bimbeechampion@yahoo.com 08033246177

Monday, September 24, 2012

Workforce

LABOUR LABOUR ISSUES JOB JOB POLITICS

Uduaghan advocates closer relation between govt and labour D

elta State Governor, Dr. Emmanuel Uduaghan says closer ties between government and the organised labour is one of the major panacea for the overall development of the country. The Governor who was represented by the Commissioner for Higher Education, Professor Hope Eghagha in his keynote address at the formal opening of the National Executive Council (NEC) meeting of the Non-Academic Staff Union of Educational and Associated Institutions (NASU) in Asaba,Delta State said that labour unions should be considered as partners in progress and should equally see themselves in that perspective. “All workers must remain committed to support Nigeria in the economic drive and that is why I commended NASU for holding its NEC meeting at this auspicious period and I believe that the union will brainstorm on topical issues that will further strengthen our drive for a greater Nigeria”, he said. Charging NASU to emulate its Delta State affliate, Governor Uduaghan stated that there has been cordial relationship between the State government and the Non

academic workforce who totalled 5128 and constitute 26% of the state’s workforce. “We don’ toy with NASU members in the state nor are we indebted to any worker, we place salary on firstline, as we hold the view that workers are entitled to their wages”, he maintained. He added further: “Your union is a major stakeholder in the education sector and I have no doubt that the present political dispensation has provided both union and government better opportunity to be partners in progress”, he stressed. Earlier the President of the Union, Comrade Ladi Iliya has commended President Goodluck Jonathan on the signing into law the Act that put the retirement age of non-academic staff of universities, Polytechnics and colleges of education at 65 years. Comrade Iliya in the same vein called on Government to make the same applicable to staff of Research Institutes and Colleges of Agriculture; in line with the Agreement it reached with the Joint Research and Allied Institutions Sector Unions in 2009/2010. According to Iliya, government should put in motion the necessary machinery to

•Leadership of NASU and other dignitaries at the NEC meeting in Asaba

•Gov Uduaghan commence the negotiations of all the 2009/2010 Collective Agreement signed with the universities, Polytechnics,Colleges of Education and Teaching Hospitals unions, which is due for re-negotiations as enshrined in the agreements. NASU said government must bear in mind that it is these Collective Agreement that have brought seeming peace in the industrial relations atmosphere in the educational sector,though she noted that once in a while the peace is broken as a result of government’s non implementation of the agreements. The union also charged government to honour the agreement(CONRAISS) and payment of the one year arrears of the agreement effective from July 1, 2009. NASU President decried the outlawing of unionisation of private tertiary institutions by their proprietors warning that such stand negates the core International Labour Organisation (ILO) ‘s Convention. She stated: “The Freedom of Association and protection of the Right to Organise

Convention. 1948 (No.87) has been ratified and domesticated by Nigeria in its Labour Laws. Furthermore, Section 40 of the 1999 Federal Republic of Nigeria Constitution as amended in 2011, guarantees the Right to form and belong to a trade union. For the avoidance of doubt, the section provides that, “Every person shall be entitled to assemble freely and associate with other persons, and in particular he may form or belong to any political party, trade union or any other association for the protection of his interest...” We are therefore calling on the federal government to put a stop to this brazen violation of the rights of workers of these institutions as these proprietors are not above the laws of the land.” Comrade Iliya lamented the noticeable decline in the standard of education in the country which she said was attributable to the decline in the funding of tertiary institutions, schools and colleges. She noted that governments at all tiers, with exception of a neglible few, have not done anything to encourage reading culture among the youths and other citizens. Charging government on research, she added, “The feats recorded by the developed countries, for which we are celebrating them today are products of research. A country that does not fund its research institutions is not aspiring towards achieving technological breakthroughs”. NASU President frowned at the alarming rate at which top government officials, politicians and their spouses troop out for medical check up and treatment abroad, stating that it amounts to a pass of no confidence on Nigeria’s health institutions and self-indicting on those in governance. “We therefore call on governments, federal and states to ensure adequate funding of educational, health and research/ development institutions for appropriate manpower development, avoidance of unnecessary deaths of citizens and technological development and advancement of this country”, Comrade Iliya said.

NUPENG raises alarm over kidnappers operation in Lagos ...Charges Fashola to address menace N igeria Union of Petroleum and Natural Gas Workers (NUPENG) has alerted the Lagos State Government to operation of kidnappers in the state, charging the state to address the menace. National President of NUPENG, Comrade Igwe Achese, said a member of the union was recently kidnapped and released from the kidnappers’ den after a ransom was paid by the union. “There is kidnapping operation now in Lagos and, to me, that will have a serious implication for the country, judging by the position and importance of the state to the Nigeria’s overall economy”, he s a i d . Achese noted that he was not raising the alarm due to NUPENG’s experience but

because of the information he gathered in the process of releasing the union’s kidnapped member recently. According to him: “We got to know that five cases of similar kidnapping have been reported to the Police and they were still working on those cases. That is absurd, Lagos has never been known for such inhuman crime.” The NUPENG President, who maintained that the development was a security challenge called on the Babatunde Fashola led administration to move into action to protect lives and properties in the state. Achese harped that the issue of security was central to the overall development of

the country as no investor would put his money in a country that has serious security challenge. The Labour leader stated that it was in this view that NUPENG has given full support to the Pollice Reforms as recently presented to the Presdent,Goodluck Jonathan. “We support the call for the creation of state Police, as it will go a long way to help in policing the states and ensure maximum security”, he said. He stressed that the states should be granted the autonomy to operate their police system, as it was during the regional days.

•Gov Fashpola

Monday, September 24, 2012

DAILY SUN

Workforce APPOINTMENTS AND PROMOTIONS

ARM announces infrastructure strategy and senior management changes at LCC

sset & Resource Management Company Ltd. (ARM), Thursday, announced that Mr. Opuiyo Oforiokuma, currently Managing Director/CEO of Lekki Concession Company Ltd. (LCC), would take on the role of Managing Director, ARM Infrastructure Fund (ARM Infrastructure), with effect from October1, 2012. ARM Infrastructure is set up to manage the new US$250 million specialist infrastructure equity fund being established by ARM, with a focus on developing and managing a broader portfolio of infrastructure assets throughout Nigeria and West Africa, including power, transport and water. ARM, a leading diversified financial services institution with businesses focusing on traditional asset management and specialised funds, within which various products and bespoke asset management services are offered to its diverse clients, is LCC’s founding shareholder and co-sponsor of the pioneering Lekki Toll Road Concession, currently being implemented by LCC under a 30-year mandate from Lagos State Government. Speaking on Mr. Oforiokuma’s move and the importance of this step to ARM’s infrastructure strategy, Mr Deji Alli, Group MD/CEO of ARM said: “Developing and managing infrastructure in West Africa, and in Nigeria in particular, have long been an integral part of ARM’s vision and long-term strategic plan. We have steadily and purposefully pursued our infrastructure strategy from as far back as the year 2000, evidence of which is our successful achievement of financial close of the Lekki Toll Road transaction in 2008.” Mr Oforiokuma was appointed by ARM as LCC’s first Managing

VACANCIES Opportunity Medical Representatives North)

(Lagos and

Target Dynamic and focused young men or women of not more than 28 years old who want to join a team of highly motivated personnel. Qualifications B.Pharm. With very sound interpersonal and communication skills. Method of Application Applications with detailed C.Vs and copies of credentials, residential addresses (Not P. O. BOX) and phone numbers to: The Human Resources/PR Manager, 5, Dopemu Road, Agege, •Oforiokuma •Edington P. O. Box 463, Ikeja, Lagos State. Director/CEO, in 2006, and has led the day-to-day running of all aspects of Deadline; One week Company from inception to the present time, steering the Company along its pioneering journey as Nigeria’s firstever Public-Private-Partnership (“PPP”) Toll Road Concession. ARM’s shareholding in LCC now falls within the ARM Infrastructure portfolio. Therefore, Mr Oforiokuma, who will remain on the Board of LCC as a non-executive Director, will continue to provide advice to the Company, as well as exercise oversight over ARM’s investment in LCC. Furthermore, to assist with the Company’s transition to new management, and to ensure continuity while new developments such as the commencement of the next stage of direct tolling of the expressway are implemented, Mr Oforiokuma will remain the Company’s chief media and public relations spokesman for some time. While recruitment of LCC’s next substantive Managing Director/CEO is ongoing, Mr Mike Edington, currently Head of Asset Management at African Infrastructure Investment Managers (“AIIM”), and a Board Director of LCC, will take on responsibility for the

LCC in the capacity of Acting Managing Director/CEO. AIIM, the official representative of the foreign shareholder in LCC, is a 50:50 Joint Venture between Macquarie Bank Group of Australia and Old Mutual of South Africa. Mr Edington has a long and distinguished career spanning more than 40 years in infrastructure development and management. His previous roles include Head of Project Finance at Nedbank, one of South Africa’s largest and most reputable banking institutions, and Head of Concessions at Aveng Grinaker LTA, one of South Africa’s largest multi-disciplinary civil engineering and construction contracting companies. Further changes that are being implemented at LCC include the appointment of Mr Benson Ajayi and Mr Jobalo Oshikanlu, currently LCC Head of Finance and LCC Head of Legal, respectively, and both of whom have been members of LCC’s senior management team for the last 6 years, as Acting Executive Directors on the Board of LCC.

IUF African regional scribe charts future for the association

n line with the expectation of the global body, the newly elected African Regional Secretary, Nigerian born Comrade Gabriel Babalola, has assured that the regional secretariat would be more accessible in providing enabling environment to champion the cause of the members in the region. Comrade Babalola, immediate National President of the Food and Beverage Senior Staff Association (FOBTOB), who was elected at the 9th African regional conference of IUF in Accra, in December, assured members in the region that the secretariat would not let them down. The Ghana Conference themed, “Winning union rights and food rights” which brought together over 130 representatives of IUF affiliates, proved to be the largest and most dynamic in the region’s history. The regional Secretary said the Secretariat would build on the success of the conference which focused on food security in the region and beyond and on the need for continued struggle to expand the space for political and trade union rights. Particular note was taken of the situation in the Ivory Coast, Zimbabwe and Swaziland where continued repression of rights is rampant. The individual cases of imprisoned Dignité leader Basile Mahan Gahé in the Ivory Coast and the exiled agricultural workers union’s general secretary Gertrude Hambira in

NATIONAL / INTERNATIONAL JOBS Swipha Swiss Pharma Nigeria Ltd

•Comrade Babalola

Zimbabwe were a focus of these discussions. Conference delegates, he noted also recognized that nations world over were facing a global food system that was broken in many ways and only fundamental political change would transform free market capitalism and end the obscenity of treating food as a financial commodity whilst more than a billion people went hungry. The Former Fobtob President said that the region shared the same view with the global body that, ‘Confronting this political challenge was at the heart of much of the debate on food security, even as commodities speculation, land grabs in Africa and other regions all featured as key elements in the conference debates. The conference also welcomed the

leaderships of both the IUF Latin American and the IUF Caribbean regions who were present in an African regional conference for the first time. Conference closed with the election of a new regional committee and the restoration of a regional leadership. IUF general secretary Ron Oswald welcomed the election of Katishi Masemola, the general secretary of FAWU, South Africa and Gabriel Babalola (pictured left) of FOBTOB Nigeria as respectively regional president and regional secretary. Oswald added, “The region has a real chance now to build its presence in Africa as a force for workers in the agricultural, food and beverage, tourism and related sectors. This newly elected leadership carries a huge responsibility to make that happen in challenging circumstances. I have every confidence they will do so and they will have all the support and solidarity possible from the entire IUF and its membership in the region and beyond.” Comrade BabaloIa said the responsibility could be quite daunting, but maintained that the new leadership would do all within its capacity to meet up to the challenge, noting that they were aware that IUF members in the region and beyond now expect a new and effective regional leadership to deliver significantly enhanced activities and support for members in the region.

UNDP EXTERNAL VACANCIES ANNOUNCEMENT The United Nations Development Programme (Nigeria) announces the following vacancies: Post Title: Administrative Associate Level of post: SB3/2 (equivalent to G6) Type of contract: Service Contract Location: Abuja, Nigeria Duration: One Year (with possibility of renewal) Closing date: 25th September 2012 For details on the job description and application process, please visit http://www.ng.undp.org/jobs.shtml and submit applications. For further details on UN benefits and entitlements, please visit http://icsc.un.org/sal_sab.asp VACANCY •Make Up Artist needed at Damsellz Makeover.Vocational Min. Deadline:20 Nov.Send your CV to 5bc7@jbng.me •Office / Spa Manager needed at Rose &amp; Velvet Spa.OND Min. Deadline:17 Nov.Send your CV to 5ad7@jbng.me INTERNATIONAL JOBS

Financial publishing house seeks journalists Employer: Pageant Media Salary: DoE Location: London Posted: 20 September 2012 Closing date: 22 November 2012 Pageant Media, the award winning publisher of financial titles, is searching for a number of talented journalists for its growing stable of publications. We are seeking applications from both senior candidates (editors, deputy editors and news editors), as well as journalists looking to take their first step into journalism or those looking to advance from more junior roles. Pageant Media, which publishes a broad array of titles covering fund management, insurance and online gaming, has developed a reputation for cutting edge coverage of its markets. We are searching for candidates who understand the importance of news-led journalism and are capable of meeting the information requirements of our readers. As well as a number of full-time positions, Pageant Media is also looking for candidates who would like to take part in our internship programme. If you are a recent graduate, or a studying journalism at a university or NTCJ-level, we would like to hear from you. How to apply: All enquiries and questions should be directed to Gwyn Roberts: mailto:g.roberts@pageantmedia.com?subject=J.co.uk job application - Journalistg.roberts@pageantmedia.com.

DAILY SUN

Monday, September 24, 2012

Nigeria shines at world FLP Super Rally By ZIKA BOBBY

he Nigeria/Benin Republic independent distributors of the Forever Living Products, who just returned from the company’s International Super Rally, held in Phoenix, Arizona, United States, did their countries proud as they were rewarded for their hard work. Company’s managing director, Mr. Cornelius Tay, spoke on the exceptional performance of Nigeria/Benin at this year’s global gathering of nearly 8,000 FLP independent distributors from over 150 countries. Nigeria’s accomplishments at the 2012 FLP International Super Rally What happened in Phoenix, Arizona, USA during the 2012 Super Rally was simply incredible. It was Nigeria’s moment of glory, because at the time when our nation was not making any headlines at the London Olympics, with no medals for our participation, Nigeria was recording huge success stories before an international audience of multi level marketers. In a gathering of distributors of Forever Living Products from 155 countries around the world, Nigeria was recognized for her impressive performance in the field of multi-level marketing, thanks to the achievements of Forever Living Products (Nigeria) Limited.

The 125 - Nigeria-strong contingent that represented the country was especially grateful for the performance of the country. Contrary to what was happening at the Olympics, Nigeria was the toast of all the nations present in Phoenix, Arizona. This was made possible, because Nigeria came out with some of the best levels of performance in FLP World. First, Nigeria was ranked Number One in the world on engage in corrupt practice in order to Total Sales Increase over a earn additional income anymore. period of 12 months, calculated from 2011-2012. This is a special ranking used to determine the company with the most impressive growth in sales to date. Last year, Nigeria was No. 2. But this year, Nigeria had taken the first position as the most productive company in FLP globally. Another achievement was that in global sales in 2011. Among all the FLP countries across all continents, within the topmost five, Nigeria emerged 4th worldwide. USA/Canada was 5th, Germany/Austria/Switzerland was 3rd, and Japan was 2nd. The first position went to Brazil. This was a remarkable achievement because in 2011, at a similar event in Washington DC, Nigeria was ranked 11th. So, for us to come from the 11th position to 4th is a spectacular achievement within a year. This was an accomplishment that brought a lot of pride and good feelings from all the African nations. To see an African country challenge all the big names, all the big countries in the Americas, Europe and Asia in the Forever World brought Nigeria huge respect and was seen as an indication of how successful FLP operations have been managed in Nigeria in the past one year. Also, among the world’s top 12 distributorships, Nigeria produced three. These Nigerian distributors now sit in the Eagle Summit, the highest group of distributors who meet annually to advise on the future direction of the global company. Motivations for high performance This spectacular performance is a testimony that Nigerian FLP management team and our distributors have proved that you can create markets and that they can grow the FLP business. These are the two fundamental criteria for exceptional performance in business. I think Nigeria’s performance also reflects the ingenuity of our people; that when they decide to do something, they can do it very well. An organization or distributorship, that can create a market, knows precisely what it is doing and it will be successful. Whereas people are saying there is no demand, successful people know how to create a demand for a good cause. Our success also shows we are aggressive in marketing. Secondly, it is a testimony of increasing popularity of our great products and the FLP brand. The Forever Living Products brand has become extremely popular all over the world, but even more so in Nigeria. In Nigeria today, people desire an alternative source of income to make ends meet. Most of our people don’t believe that they have to

Forever Living Products Managing Director Nigeria/Benin, Mr Cornelius Tay (left) and wife, Caroline, receiving the award for the worldwide fourth position in FLP just as Nigeria is rated the Best Improved Sales Country of 2012 from the chairman, FLP International, Mr Rex Maughan in Phoenix, Arizona, USA

Monday, September 24, 2012

Community, ex-NDA boss at loggerheads over security From ABDULGAFAR association to pursue the development of our comALABELEWE, Kaduna munity and ensure its secuesidents of new Kurmi rity against the backdrop of Mashi Layout, a sub- armed robbery cases and urb of Kaduna situation where criminal metropolis, close to the elements would kill somepopular NASFAT Village body elsewhere and dump have accused the immedi- the corpse in our area. “We actually got their ate past Commandant, Nigerian Defence blessing in the beginning Academy (NDA), Major and they contributed to General M. A Yerima floating the association and (retd), also a resident, of erecting the street gates. constituting security threat But subsequently, they stopped paying the agreed to the community. They expressed disap- monthly dues and we did pointment that Yerima not force them. But of could be a stumbling block recent, General Yerima and to measures taken to ensure his group have resulted to security of life and proper- frustrating the efforts of the ty in the community. The association, despite efforts residents who spoke to of the majority of the landDaily Sun through their lords to look into their chairman, Alhaji grievances and reconcile A b d u l r a h m a n with them.” The association of landAbdulwahab, alleged that the former NDA boss lords on June 23 wrote the destroyed two of the street State Commissioner of gates erected by the associ- Police to complain that ation to ensure security of some few individuals, (Yerima inclusive), have the area: “When we came, we con- continually compromised sulted the General and the efforts of the majority some other people who we of landlords in ensuring met in the community to security and good neighfind out whether there was bourliness in the communian association of landlords, ty. Abdulwahab alleged and they said there was that despite the CP’s internon. So, we suggested it vention, Yerima and his was necessary to float such group were bent on frus-

trating other landlords’ efforts by causing disagreement on when the street gates should be opened and closed. He alleged that around 3pm last Friday, Yerima removed two of the gates. Contacted on phone, Yerima confessed removing the gates on Friday afternoon. He said he had emergency in the previous night and there were no security men to open the gate for him: “I did not use the soldiers to remove the gates, I engaged a roadside welder to cut them.__None of those people that form the association know anything about security. Those gates are the height of insecurity. If one is trailed to that point by gunmen and there is nobody to open it, one would just be shot at that point._ “It is true that I supported them initially, but I discovered that, they are just locking us in and they are not carrying people along. I served the country for 36 years and at this time, that I should be enjoying my retirement, I cannot allow some people to be locking me in and out of my own house.”

DAILY SUN 49

DAILY SUN Monday, September 24, 2012

Nigerian Immigration decorates 96 newly promoted Officers By GILBERT EKEZIE

he Nigerian Immigration Service, Lagos State Command recently, decorated about 96 newly promoted officers of the Command at its Headquarters, Alagbon Close, Ikoyi. Those decorated include 14 Chief Superintendents, 11 Superintendents, 4 Deputy Superintendents, 12 Assistant Superintendents and other Inspectorate cadres. While decorating the officers, the State Controller of Immigration, Mr Suleiman Abass Ahmed congratulated them for their diligence and commitment to duties. He pointed out that the promotion served as a pay back for the officers who have put in extra efforts to move the Nigerian immigration forward. “You have been rewarded for your hard work and that is to measure with what you are doing. So, you are expected to do more.” He advised those who did not benefit from the promotion not to be discouraged, but should be patient and work harder, as theirs would come at God’s appointed time. “For those who were not promoted, I say that promotion is from God. So you should take it in good faith. It is not that you are not working. If I have my way, I will ensure that everybody is promoted. But God has the decision. So, I am pleading on behalf of the Comptroller- General that those that are not yet promoted should not take it as anything because everybody cannot get it at the same time. God’s time is the best and we will still gather in this way to celebrate your own promotion later, he said.” Ahmed commended the Minister of Interior, Abba Moro and the Comptroller- General of Immigration of Immigration Mrs Rose Uzoma for their candid support in ensuring the growth of the immigration service in Nigeria, “I commend efforts of the Minister of Interior, and the Comptroller General of Immigration for their supports and cooperation. What we are witnessing today is as a result of their recommendations and this encourages better out put in the service.” Controller of Prisons, Lagos State Command, Mr Abayomi Oguntuase also commended the promoted officers for their meritorious service and urged them not to relent. He further called on those yet to be promoted not to be discouraged. “Those that are not promoted should not be downcast, but should think deep and count their blessings in other areas. Promotion or not, life goes on.”

Superintendent, expressed gratitude to God for the recognition and thanked the Nigerian Immigration Service for giving them the opportunity to serve at their various capacities. “It is God’s making and we are grateful. I attribute our promotions to hard work and we promise to continue in the hard work that earned us this promotion.” Also, Public Relations Officer of Nigerian Immigration Service, Lagos State Command, Mr Muyiwa Odunubi who was promoted to Superintendent of Immigration said that it was one of the best things that had happened in his life. “What they have done to me is wonderful. I would say that it is one of the best things that had happened to my life. Therefore, I thank the Comptroller- General of Immigration and the Controller of Immigration, Lagos State Responding on behalf of the promoted offi- Immigration, Lagos Command, Mr Victor Command for the gesture and also promised to cers, Personal Assistant to the Controller of Metu who was promoted to Chief do my best in the services.” L-R:Controller of Immigration, Lagos Command, Suleiman Ahmed with Controller of Prisons, Lagos Command, Abayomi Oguntunase decorating one of the newly promoted Chief Superintendent of Immigration, Victor Metu in Lagos.

‘Regional Integration not secession agenda’ Stories by RAZAQ BAMIDELE

“T

he regional integration programme is being put together to mobilise resources to crystallize an economy. It is about leveraging on the comparative advantage that can be gotten within the region. It is never a foundation or agenda for secession. It is to bring about

true federalism and self determination as recognized by the International Law.” These were the words of the Commissioner in charge of Special Duties and Regional Integration in the State of Osun, Ajibola Basiru during an interview with Daily Sun in Osogbo. The agenda, Basiru emphasized “cannot and is not a foundation for succession,” point-

FoI Act: I have nothing to hide –LG boss

hairman of Orile-Agege Local Council Development Area (LCDA), in Lagos State, Taofeeq Abiodun Adaranijo, who was dragged to court recently by a chieftain of the Congress for Progressive Change (CPC), Otunba Niyi Raheem over alleged information hoarding has said that he had nothing to hide. Raheem, who was the party’s candidate for the Agege Federal Constituency during the last general election, filed the Suit, number FHC/IKJ/CS/95/2012 at the Federal High Court, Ikeja Lagos under Justice S.J. Adah as the Presiding Judge against the Chairman praying the court to prevail on the defendant to furnish him with “information and record of all your activities, operations and business,” since his assumption of office.” Speaking with newsmen in his office, the

Chairman said “since he has taking a legal process, we are also going to respond accordingly though a legal process” assuring that “since we have nothing to hide, there is no cause for alarm.” While asserting that “all our businesses and transactions in office are transparent and in the interest of the people whose mandate we are exercising,” Adaranijo promised to act “according to the dictate of the law as law abiding public officers,” just as he reminded that “since the matter is before of a court of competent jurisdiction, it would amount to prejudicial attempt to start discussing it in the media.” He therefore assured that “when the case is properly settled legally, all the parties would be satisfied,” saying “we are here to serve the people and not our selfish interest.”

ing out that “the right to self determination is an internationally recognized right under international law and it does not amount to secession.” What it amounted to, he explain “is that every people have the right to organize themselves to foster development for their betterment because a part of the region may not be endowed with finance, but it may be endowed in other areas.” Citing an example, the youthful lawyer said “in Osun, there is abundant land resources and Lagos has financial resources,” stating that “for us to crystallize a developmental and industrial programme in this region, we need massive and large scale agriculture to grow the agro-allied industry and so, Lagos and Osun can collaborate in this win-win situation.” Basiru, who said it was not about money alone reminded that resources for production are varied and they abound in different parts of the region. “We have different people in Nigeria. By culture and orientation, we are different. Some cultures believe in the pursuit of wealth. Some believe in hard work. Some believe in religious affinity. In the West, we are positioned to practise agriculture, but because of dilution and standardization by the centre, we cannot articulate ourselves,” he lamented.

NEWS REVIEW

Suspension of N5000 note By WALE SOKUNBI

he controversy is over for now. President Goodluck Jonathan, last Thursday, bowed to the will of Nigerians and directed Central Bank of Nigeria (CBN) Governor, Mallam Lamido Sanusi, to suspend the planned introduction of N5000 note. The decision to softpedal on the move to force the new highdenomination note on Nigerians was taken by the president on September 20, following resolutions of both arms of the National Assembly that the CBN should not go ahead with the plan. The president, after a meeting with leadership of the legislature, halted the exercise. Dr Reuben Abati, Special Adviser to the President on Media who disclosed the president’s decision, said it was to enable the CBN carry out more enlightenment and consultation on the matter. The CBN has confirmed receipt of the presidential directive on the controversial currency-restructuring plan, and has stopped all action on the issue. The suspension of introduction of N5000 note is commendable. It is good that the president aligned himself with the position of the people on this matter. The plan had, from inception, elicited public outcry with virtually all segments of the society passionately against it. Although the CBN Governor stuck to his

position, insisting that it was empowered by the CBN Act to determine the structure of the nation’s currency, various stakeholders and interest groups, including the Nigerian Bar Association (NBA) and the National Assembly, said the provisions of the Act did not detract from the responsibility of the National Assembly to make laws for the good governance of the nation. The Act also does not preclude the need for the CBN to consult widely before arriving at its decisions. Neither the National Assembly nor the National Economic Council (NEC) were consulted or carried along on the matter. However, this decision of the president on the N5000 note should not be seen as a defeat for the president and the CBN Governor or a victory for the people. The resolution of the matter is simply a victory for democracy. It is important that the nation’s leaders understand that democracy is about the will of the people. In a democracy, leaders should not lord it over the people or force unpopular decisions on them. Since Nigerians were largely unanimous on the undesirability of the proposed N5000 note, the government, as appropriate in a democracy, ought to have delayed it until it could achieve a near consensus on the matter. It did not have to wait until the National Assembly passed a resolution to stop it. In the case of the N5000 note, there was clearly too much passionate discontent on the

proposal. The grandstanding of the CBN Governor did not at all help matters. His attempt to overrule the feelings, views and wishes of the people was inappropriate. Sanusi, certainly, needs to be more cautious. His contemptuous disregard of informed public opinion on this matter is wrong, coming from a public officer. The position of the people is very important in matters such as this one because they are the ones who will use the new currency. The president, therefore, did well to take this into consideration to arrive at the suspension of the idea. Such a momentous step should not be taken without proper consultations and support of the people. How, indeed, could such a critical decision be implemented in the face of widespread opposition to it, and the absence of consultation with members of the House of Representatives and the Senate, who are the representatives of the people? The lesson from this suspension is that government and public officers should consult with, and listen to the people at all times. It is necessary to carry them along on all issues that will affect them. Many stakeholders have already expressed reservations on this suspension, preferring that the idea be cancelled outright. However, it may still be necessary to consider all matters relating to it. The government and the CBN should now

do what they ought to have done earlier, which is to consult widely so that they can take advantage of the views of informed people who have spoken on the issue. This is necessary because outright cancellation of the idea without considering the wise counsel of knowledgeable people could make Nigerians lose the benefits of the proposal, if it has any. The proposal has to be properly studied to determine its advantages and disadvantages and a consensus arrived at before it is either dropped or implemented. CBN should learn from this because this is the same fate that befell the Naira re-denomination exercise proposed by the former leadership of the apex bank. The impression that the CBN tries to create that it has monopoly of wisdom on economic issues is inexpedient. The bank must be mindful of not only the letters of the Act that set it up, but also its spirit, and the provisions of the Nigerian Constitution. It must consult widely on critical matters of this nature so that its plans, even when good and well intentioned, are not thrown into the dustbin. Now that the government has decided on more consultations and enlightenment on this matter, it is important that the people keep an open mind. The suspension should not be seen as a defeat for Sanusi, but an opportunity for all stakeholders to look more closely at the issues involved and the expediency of the plan for the N5000 note.

Monday, September 24, 2012

DAILY SUN

POLITICS...&Polity Igbo presidential dream, and the search for platform

•Okorie By NKIRU EVONGWA

ialogues and presentations made by Igbo leaders at different fora on the nation’s solemn desire to ensure that a president of Igbo extraction emerges in 2015 could be counted as a demonstration of seriousness on their part. Comforting as this might be, political analysts cannot stop at imagining the realization of such herculean dream without a rallying point. Compared to their South-west counterparts, the Igbo race has not had a platform that they could proudly call an “Igbo Party”, dominating the South-east, since after the Nigerian Council of Nigeria Citizens (NCNC) of the first republic and National Peoples Party / the National Party of Nigeria (NPP / NPN) of the second republic. When the Nigerian National Democratic Party (NNDP) was formed in 1923 after the introduction of the first elective principle in Nigeria by the Clifford’s constitution, it was not regarded as a national party because its activities were restricted to Lagos. But the NNDP led by its first national president, Late Herbert Macaulay, dominated Lagos and won most elections held between 1923 and 1938. Also, under the Macpherson’s constitution when late Chief Obafemi Awolowo, formed the Action Group (AG) in 1951. Its aim was to contest and win elections in the West, which it achieved. Such land slide victory was also replicated when the Unity Party of Nigeria (UPN), led by Awolowo was formed after the military government of General Olusegun Obasanjo lifted the ban on political activities on Thursday September 21, 1978. The UPN was recorded to have won election in the then five LOOBO States of the Western and Mid-West region comprising Lagos, Ogun, Ondo, Bendel and Oyo states.

•Onu Those subsequent electoral victories and power control by the founding fathers of the South-western states, observers said could not have been possible if they had not properly defined their goals at the formation of the various parties. And putting their acts together through a platform, which at formation is sown into the hearts of their people as one that would propagate their cause as a nation. The Action Congress of Nigeria (AC N), which emulated their footprint, has been able to launch itself as a party to be reckoned with on Nigerias political arena within few years of existence. At the formation of the All Progressive Grand Alliance (APGA), the founding fathers vision was for it to be, “an allembracing Igbo party that would go beyond Igbo land and accommodate people from all parts of the country”, a vision well accepted by the Igbo and many Nigerians that at last a party that would propagate the cause of the Igbos was born. But the various crises that rocked it created some form of doubts in the hearts of many of its admirers. But APGA through its Director of Research, Planning and Communication, Chief Ugwunze Campbell, recently claimed that, “APGA is no more in crises; it is just undergoing a transformation.” If the words of some prominent Nigerians were something to go by, all hands need to be on deck for Igbos to scale through the 2015 contest for the office of Nigeria’s No 1 citizen, especially on the assumption that they might need to contest with other geo-political zones of the Country who are also showing serious

•Okonkwo interest on the seat. Going by this, political analysts opine that there must be a rallying point from where this cause could be spread. In as much as eminent South-east leaders have imbibed this idea, politicians and political parties there have been ensnared in the web of disagreement over the political party from where this could be achieved. Former Minister for Education, Dr. Igwe Aja Nwachukwu stressed that, “there should be a rallying point. The West are getting many things because they are united. Whether we like it or not, we have not had it better than the time of NPP because people could not take us for granted, even though we just came out of war.” All Nigeria Peoples Party (ANPP) National chairman, Ogbonnaya Onu in a recent statement made available to the public said, “we should study the political terrain very carefully and take decisions which are in our own very best interest.” The founding chairman of APGA, Chief Chekwas Okorie also threw his weight behind this when he said, “But this cannot be done without a political platform that is sympathetic to that aspiration.” However, conflict of interest arose when it came to the point of choosing a platform. Chief Guy Ikokwu, a founding member of the Peoples Democratic Party (PDP) believes that, “they don’t have to be in one party. Even members of one family don’t have to belong to one party, or same religion to be united. So, you don’t tell people who have conscience and brain that they must take this or that way, it’s not done.

“They don’t have to be in one party. Even members of one family don’t have to belong to one party, or same religion to be united. So, you don’t tell people who have conscience and brain that they must take this or that way, it’s not done. God didn’t make it so.”

God didn’t make it so.” But Okorie stressed that, “All Progressive Grand Alliance (APGA), that platform that would have made it possible. Of course, the story of APGA is already well documented. We must understand that the Peoples Democratic Party (PDP), given its present composition and structure, is not going to give its ticket to an Igbo man to contest on its platform. Given this scenario, is it the ACN, or the CPC that the Igbo should be looking up to?” For ANPP, Onu, warned against relying on the PDP, “What we have today is that most of the Igbo elite are in the ruling party. They believe that the ruling party is where the action is. This has its advantages. It certainly has many disadvantages. ‘‘It is very important to always consider what happens in such a case if, for one reason or the other, the ruling party is unable to make available its platform. In that case every effort made then, comes to nothing. The Igbo in politics should look beyond the ruling party. The Igbo need an alternative political party that has a national reach and is not perceived by the general public as a regionally-based party. The All Nigeria Peoples Party, ANPP, is that political party which the Igbo should embrace so that they can always make a viable choice. The Igbo need to diversify, as an insurance against the unknown and the unseen. However, Senator Okonkwo and his other APGA counterparts stressed that, “APGA is our platform; you can’t get any other in Igbo land. Yorubas have defined their platform; let Igbo people also do the same. I want to reassure you that APGA will be a party to beat in this country.” Whether it is APGA, PDP, ANPP, AC N or CPC, the most important thing to observers is that Igbos harmonise themselves for the great task ahead.

DAILY SUN Monday, September 24, 2012

POLITICS...&Polity Nigeria has no founding fathers –Agbeyegbe “And having been concocted, those people who were always being wrongly called founding fathers of Nigeria, I disagree because we all know who founded Nigeria.

There is not a single Nigerian as of today at that time who took part in putting up this entity called Nigeria.”

•Agbeyegbe A lawyer, activist and President, Itsekiri People’s Congress, Fred Agbeyegbe is of the strong conviction that, even if an angel rule Nigeria with the 1999 constitution, he would fail woefully, because according to him, the document “is forgery, fraud and defective.” The concerned Itsekiri leader from Warri, who was the Secretary-General of the Movement for the Creation of Delta State is of the firm belief that a people’s constitution, through Sovereign National Conference is imperative to move the country forward, asserting that “anything contrary would amount to wasting of precious time and energy.” He spoke with RAZAQ BAMIDELE in Lagos. Exerpts: My presence at Ibadan Yoruba assembly don’t think it was just the unity of Yoruba that was being discussed. I think that the issues that were in discussion in that Ibadan Yoruba National Assembly go beyond even the Yoruba nation in the sense that they were talking about how Nigeria can become a better place for all of us to live in. I think such a topic is a topic that is in the interest of all of us who still believe somehow in this entity called Nigeria. Having said that, I should say that Yoruba invited the Itsekiris as their brothers and cousins to that National Assembly. So, that was why I was there. I was also there because of the topic of discussion. My views on Ibadan agenda If my memory serves me right, there was not a single item on the agenda that I am opposed to. I am totally in support of every item on that agenda. It includes autonomy; it includes regionalism for no other purpose than to achieve autonomy. It includes items like State Police. It includes the fact that this country was concocted. And having been concocted, those people who were always being wrongly called founding fathers of Nigeria, I disagree because we all know who founded Nigeria. There is not a single Nigerian as of today at that time who took part in putting up this entity called Nigeria. It was a foreign affair. It was Lord Laggard’s idea and the British colonialists who put Nigeria together. All that all the so-called founding fathers like Awolowo, Azikiwe and Ahmadu Bello did, was to found what people don’t like now, either because of their greed or their intentions to control areas for their own personal reasons, through a fiscal federalism. So, in the little book that I am writing, I seek to correct the anomaly by urging us in Nigeria and everybody in the world to stop referring to them as founding fathers of Nigeria. That is an indict-

ment, especially as much as I know a very few people who are happy being Nigerians today. So, to say that those three people, who labored to make sure that their people live a better life post colonial rulership are being referred to as founders of Nigeria. What they did was to work out a constitution that took the interests of the ethnic nationalities of Nigeria, their lands and sovereignty into account. And that was what emerged as constitution we went into Independence with. And that is what has been bastardized. Correction of the bastardization For me, it is very simple. Although, there had been so many ‘Ideas’ as to how, if we try it, Nigeria will break up. And not that I see any reason that if that is what is going to happen that it shouldn’t happen. If those who insist that they are masters of the citizens of Nigeria and can dictate to them what they want whenever they want and that all their rights should be put on their plain table, then if it is going to break up, if they want to continue like that, I don’t see why it should not break up. They say, for example, that those of you, who are asking for Sovereign National Conference, how would it happen? I want to say I am one of them. I want Sovereign National Conference. The question they ask relate to issues that are really no issues at all. They put them up as obstacles to ensuring that SNC holds. For example. They say how are you going to constitute membership of that conference? One. Two, who is going to represent who? Three, they say because of those two difficult situations, it is better that Nigeria, as constituted today, in the so called zones, should be the ones attending and they should be represented also by the so called eminent Nigerians who will fashion this people’s constitution we are looking for on which

I can quote Gani of the blessed memory “until you have a people’s constitution in Nigeria, we are all wasting our time.” Now, if you have representation at that conference, by region or by state, or by local government, you are actually playing into the hands of those who want to control the destiny of other people for the rest of their life. Why? Because all those bodies and institutions, were not the creation of the Nigerians. They were not the creations of the owners of the lands that they come from; that the good Lord in His infinite mercy put them on. They are creations of the agents of those who claimed that rulership is their business. And the opposite of that is that slaveship is my business which I chose. They also go to say the conference should not be sovereign. Why? Because they say we already have a sovereign government in power. And that you cannot have two sovereigns parading the polity at the same time. The question I ask is; this government, who gave them sovereignty that they have? They get to the government through all sorts of schemes, so that some people can augment their numbers and continue to claim that they are in the majority. All of that are plots to make sure that that the actual owners of the land, of the resources of where they are do not have a say because if you talk of a region or a state, there is only one rule that would apply. And that is the rule of democracy that says majority must carry the game. Now, if we are going to have democracy, you cannot have it on the exercise of my right. My rights are sovereign. They are the rights given to me by God. So, when we are talking about those things that pertain to my sovereignty, you cannot bring the rule of democracy to apply. Because we have not even agreed

yet that it is democracy that we are going to apply in working out our code of conduct for interrelationship in this entity called Nigeria. So, that issue of democracy must wait. My sovereign rights, I have to agree to cede them to some authority. When I have done that, when the Yorubas say, oky, we want to give this out, we want to hold back on this one, this is how we want to walk along ourselves, it is only on those things that are being given the federal body called Nigeria that you can talk about. What political system we want to govern all of us. Then, you can evolve a rule called democracy, because democracy is a system of arbitrage between people when there is disagreement. You cannot start coming to disagree with me on how I exercise my rights and use democracy to pass me over. Therefore, the only solution is that, there will be at least two levels of discussions when we are talking about this national conference. The first level of discussion should be among those people who their daily activities affect themselves. I will give you an example. I am Itsekiri. I come from Warri. The Urobos are there. The Ijaws are there. If you go beyond that, the Isokos are in Delta state. It is first and foremost among that lot, because whatever I do where I am, affect all these people and whatever the people where I am do, affects me. It is with them I should first seek to agree on code of conduct for mutual existence. If we can agree, those people I have mentioned-Itsekiri, Urobo and Isokso, Ijaws who are in Warri area-among ourselves and we see that we are not large enough or for whatever personal reasons clear to us, we do not want to be a federating unit, we can cross the border and ask the Bennis that, can we join together? The Isans, the Oras, the Afemas, the Bennis, if they look among themselves ther and agree among themselves, and they said ye, they want to join us, so we have one federating unit there. If for any reasons, that group decides that they want the Yorubas who are their next neighbors to come along. Then to the South-West, the same question. That is

I’m humbled, says Madumere, MFR By UCHE ONWUCHEKWA

rince Eze Madumere, MFR, Chief of Staff to Imo State Governor, Owelle Rochas Okorocha, OON, has expressed gratitude to President Goodluck Jonathan and the committee that considered him worthy to be honoured among other eminent Nigerians saying he never anticipated the honour. Speaking to newsmen immediately after the National Honours Award Ceremony, at a reception organised in his honour at Imo State liaison office, Abuja, Madumere said he was humbled by the honour as “Member of the Order of the Federal Republic.” Governor Okorocha’s Chief of Staff averred that he never expected the honour as he believed that the work of charity is usually done noiselessly without expecting a reward. He showered encomium on his boss, Governor Okorocha whom he described as a great man who gave him the needed opportunity to prove himself. “I am wholly grateful to my big brother, father and boss, His Excellency, Owelle Rochas Okorocha, OON, who created all the opportunities and platform for me to showcase my God given

endowments. I wish he were present but he is here with me in spirit.

•Madumere

He further called on Nigerians to remain patriotic and unrelenting in their effort to contributing their quota in nation building, even if they are not being noticed as such

rewards will always come from God. He, however called on the youths of the nation to eschew social vices as such could bring them to ruin. He further called for hard work, patience, faith and perseverance, saying those are virtues that could be of immense factor in their lives. During a dinner outing at Lamonde Hotel in Area 11 in Abuja in Prince Madumere’s honour by the members of the “Rescue Mission” organisation, it was encomiums from many people. Commissioners in attendance were Deacon Chike Okafor, Hon. Commissioner for Finance, Commissioner for Culture, Tourism, Hon. Ugochi Nnanna Okoro and host of other government officials coupled with the Hausa and Yoruba Community. The high point of the event was the presentation of certificate of fellow of African Business School by Chief Nyerere Anyim.

DAILY SUN

Monday, September 24, 2012

igerian air passengers who, last Wednesday, went to the various airports in the country to board the nation’s foremost carrier to their different destinations were sorely disappointed by what they sadly realized was Arik Air’s inability to operate its flights that day and for the following three days. That situation was forced on the airline by the action of the trade unions at the Aviation Ministry’s parastatals in the country which physically picketed and blocked Arik Air’s operations nationwide. The grouse of the unionist was that the airline owed their employers so much that it was getting impossible for the FAAN and the other allied institutions to deliver efficiently on their operations. It was even touted that it had become a big challenge for their employers to pay their salaries. This type of guerrilla tactics by workers, on behalf of their employers, is definitely novel in the national scheme of things and no matter how much the FAAN management tried to plead ignorance and non-complicity in the action of its staffers, most industry observers were not convinced that it was not the regulators, who having lost patience over what seems to be Arik’s reluctance and stubbornness over the huge debts owed the aviation parastatals, might have nudged their workers to take matters into their hands. A month ago, PENGASSAN had tried the same strategy to blackmail the nation on behalf of their employers who were claiming backlog of debts for oil products delivered. The difference, however, was that unlike in the case of the aviation workers, most of the debts which oil workers were demanding on behalf of their employers were mostly questionable and still subject to further and ongoing investigations and inquiries at different levels of government bureaucracy. The aviation workers succeeded in drawing public attention to the huge debts which Arik Air was said to have owed the aviation parastatals, said to be in the region of N18 billion. According to authorities of the Federal Airports Authority of Nigeria (FAAN), Arik owes it a whopping sum of over seven billion naira, a debt which FAAN claims has rendered most of its operations difficult. Other parastatals of the Aviation Ministry, to wit, the Nigeria Civil Aviation Authority (NCAA) and the Nigeria Airspace Management Authority (NAMA) also claim that Arik owes them over ten billion naira. The action of the unionists seemed to have brought the fact that these institutions had been groaning under the weight of these debts to the fore and it would be difficult for the public not to appreciate their sore predicament or the justification for what some see as their extreme, if effective measure. On their part, Arik management had tried to explain its own side of the story by suggesting that the Aviation Ministry and its parastatals were being unnecessarily unfair and highhanded towards the airline, mainly, as it alleged, because it had refused to compromise on its standards in order to allegedly allow the Aviation Minister, Princess Stella Oduah, to acquire the five percent stake she had allegedly demanded from the airline. The airline gave the impression that it was their failure to succumb to this alleged conflict of interest that their airline had been targeted. At a press conference in Lagos, Mr. Chris Ndulue, the chief executive officer of Arik Air, also claimed that, “before now, there have been several attempts and threats to disrupt our operations and sell the usual impression that Arik is owing these agencies...They (unionists) locked the boarding gate and prevented the passengers from getting to the aircraft and were making false announcement of unimaginable sums of money they claimed Arik owed..” Arik wondered why it was only their airline that was being targeted and disrupted, wondering too whether the other airlines were not also owing. Their query as to why the unionists had not also disrupted the operations of the other airlines was quickly answered by the president of the picketing unionists. Mr. Benjamin Okewu explained that it was not yet the day of reckoning for those other airlines, as unlike Arik, they were doing their best at servicing their debts, while the angered workers claimed that Arik had adopted the stand of omnipotence and hardly cared a hoot about settling or serviving its debt profile that had

Arik’s reckless blackmail UCHE EZECHUKWU

CAPITAL MATTERS

0803 622 3337

onukwubel@yahoo.com reached an alleged level of the whopping sum of N85.4 billion. Because Arik with its 23 aircraft which operates to all the airports in the country controls over 60 percent of air operations in the country, the punishment which the flight suspension inflicted on the Nigerian flying public has been enormous and the loss to the airline has been put at over three billion naira for those three days of disruption. It was, no doubt in the consideration of the heavy toll that the disruption would have on the nation’s socio-economic life that has made the different national stakeholders in the aviation industry, including the National Assembly committees on aviation to step in promptly to stave off a definite disaster waiting to happen. Following a high powered meeting between government agencies, National Assembly and Arik last Saturday, the airline resumed operations yesterday (Sunday), and would definitely bring a huge relief to thousands of Nigerians who have become marooned at the different points in the country. The challenge the temporary stoppage of Arik operations was compounded by the fact that travel by road which most of the stranded passengers had resigned to between the Northern and Southern parts of the country had been rendered next to impossible by the menace of huge floods which have inundated long stretches of the Abuja-Lokoja highway and brought more woes to road travellers most of whom have been compelled to pass the night on the road in Kogi State. Hence, the urgency in the need to resolve the Arik imbroglio was obvious, and it would be a big relief to many for whom the Arik has become a very inalienable travelling companion. There is no doubt that the settlement hammered last Saturday to enable Arik resume its operations was only an emergency one and from the facts on the ground, cannot be said to be sustainable in any way. What has emerged is the poor attitude of Arik management which tends to assume that the use of grandstanding, blackmail and intimidation could ever serve as a replacement for good business relations. The unsubstantiated accusation by Arik

Oduah

authorities that the Aviation Minister was demanding some stake in its ownership is clearly insane and even if there was anything like that ever happened, Arik authorities would still be naive to allude to it in the public domain, especially as there is not likely to be any documentary evidence of such a demand. Again, it flies against the grain of commonsense that Princess Oduah, an astute and successful international business-woman would have become so enamoured of Arik which is being weighed down by a suffocating debt overhang, as to wish to be a part of its ownership. Would it make any sense even to a business neophyte to buy into a business in which a shareholder would have nothing but liabilities to harvest for her pains? Nobody, and definitely not a person of Oduah’s exposure, would be that naive. That Arik could even imagine levelling such an allegation was stupid in the extreme and some mischievous mind there might be merely wishing to cashin on an Igbophobic mentality, which they believe would resonate on the public so soon after another Igbo minister had been accused of conflict of interest in the Power Ministry. In the present case, Arik’s accusation against the Aviation minister is less than childish because in her position as an Aviation Minister, she is in a position to bring in another airline with better professional management acumen and, if she so desires, could establish some sort of sleeping interest in such a better managed organisation. The effort, therefore, by Arik to create that dubious diversion could, therefore, not hold any water, because the aviation industry is a sophisticated international one which is patronised by people and agencies with more than street or gutter mentality and are, therefore, able to winnow the chaff from the grain. It is not difficult to second the position of the aviation parastatal bosses to the effect that Arik should find ways to run its business more professionally and in line with international best practices rather than looking for agencies and officials to blackmail and intimidate. If Arik is claiming that it does not owe what the ministry claims, how much does it admit to owning? Big businesses, of which airline business is among, cannot be run through subterfuges and debt evasion. The widely published claim that Arik might have lost up to three billion naira in three days of suspended operations means that the airline on the average makes more than N350 billion a year. That being so, it should not be operating like a Shylock business which rakes in huge revenues but conveniently refuses to discharge its debt

obligations to agencies that facilitate and service its operations. Agencies which fuel its aircraft as well as companies that handle its cargoes are also said to be groaning under Arik’s indebtedness. The intervention to enable Arik continue with its disrupted operations should not be a season for the airline to learn new ways of covering its tracks while it continues with its poor business attitude of leaving behind a trail of huge debts that brings the aviation agencies to their knees. I have travelled with Arik Air to destinations outside Nigeria on at least two occasions. On one of those days, I had travelled with the airline from Abuja to Lagos in a craft whose air-conditioning was just manageable, just to be polite. On the same night, I travelled in another Arik flight to Johannesburg, South Africa and was pleasantly surprised to note how much the airline conformed to the standards of the other airlines that I had used on that and other routes. Would Arik have ever contemplated operating at South African airports and airspace while leaving such huge debts behind? If Arik was demanded to pay up any debts it might have owed any of the countries where it operates or over which airspace it overflies, would it level accusation of conflict of interest against the aviation minsters of those countries which have demand it to fulfil its contractual business obligations? Nigerian aviation sector is currently undergoing many commendable and visible transformations and improvements and this would not be the right or opportune moment to distract those who are making these praiseworthy changes possible. The antics of Arik, first by not paying its huge debts, and again by calumnizing the Aviation Ministry and its high officials would be a sure way of frustrating and sabotaging these genuine efforts. Nigerians are happy to bear the temporary inconveniences being imposed on them by the physical improvements going on at different airports across the nation. They see it as a visible proof of determined efforts to bring up our airports in particular and aviation industry in general, at par with what obtains elsewhere in the world. These laudable efforts should not be harmed by the antics of the Ariks of this country, who have been extended enormous concessions and pampering, but would not show appreciation for what they are receiving but would rather want to cow the supervising ministry and parastatals through blackmail and intimidation. The Aviation Ministry is today run by two very competent and high-performing women – Princess Stella Oduah, the minister and her Permanent Secretary, Ms. Ann Ene-Ita who are doing a wonderful job at their post in their efforts to make the industry worthy of international respect and attention. It is hoped that in the next two years, the Aviation industry in Nigeria would have been adequately positioned to attract international investment and other favourable fallouts. Such cannot be achieved when the current biggest player is holding everybody on the jugular. The current respite granted Arik should be a time for the airline to come down from its high horse and find ways to come to terms with its debt obligations, if not to wipe them out, but at least, to reduce them to the barest minimum to enable its creditors survive and grow too. On the other hand, it is merely commonsensical to understand that a baby that could not crawl is not likely to suddenly start running. That being the case, the Aviation Ministry should look beyond the present time and project to when the airports would have been renovated and equipped with ultra modern facilities. Those investments would be a waste if the Ministry does not bring in other carriers that would operate more professionally and discharge their financial obligations to all and sundry. For now, any attempt to distract and blackmail Princess Oduah and her team should be condemned with vigour. Again, the minister should not further distract herself by going out to seek legal redress against Arik over its obviously reckless and irresponsible claims against her. The facts of the matter are as clear as daylight.

NEWS DAILY SUN Monday, September 24, 2012 57

SUN SPORTS EXTRA

NEWS

By GBOLAHAN DADA

ow would someone describe the success story of Nigerian Paralympic heroes at the London 2012 Games if not that it was victory for the less privileged in the country and an overwhelming grace on special sports athletes. Against all odds, the athletes proved critics wrong to place Nigeria on a high ladder of success in the world. Nobody gave them any chance. They prepared for the Games with outdated kits; they were not given enough attention like their able-bodied counterparts, who went to the London Olympics, but did not win even a single medal. But despite the odds, the Paralympians won medals - they won gold, they won silver, they won bronze; they won all the colours of medals available, breaking and setting records along the line. While competing in London, The Paralympians made Nigerians all over the globe proud, and they were loved by all and sundry. With them on the prowl, no Nigerian was ashamed to don the green and white colours of the country. With them competing in London, the world stood still for Nigeria. For the many times they mounted the podium of honour, with the Nigerian Anthem blaring at the Games arena, tears of joy rolled down the cheeks of most Nigerians in admiration of the feats of the so-called disabled, who truly proved that there is ability in disability. Their gallantry pulled most Nigerians in the United Kingdom out of their homes to the Games' arena to witness the medal haul. The magic of Nigerian special sports athletes, who competed for fame and grabbed fame, and headed for honour, and met it on the Paralympics podium, gladdened many troubled hearts. They re-wrote history, and they established four new world and Paralympics records. They are mainly powerlifters. They ruled at the powerlifting turf, where they won six gold, five silver and two bronze medals. In athletics, they garnered one bronze to place Nigeria on the 22nd position on the overall medals' table. Nigeria would have also performed well in other sports like athletics, which used to be the country's initial medalwinning event, but for lack of development, Team Nigeria was robbed of the opportunity to discover and nurture its athletes to the point of competing on the highest global stage. Of course, there are great, but untapped talents still rooming the streets of the nation undiscovered. They should be the targets of our sports authorities if they understand the meaning of continuity. Such talents need to be fished out and nurtured for them to be useful to the country in future Games. The financial incentives announced by the Federal Government for the great Nigerian Paralympians, is a good morale booster. It will even encourage those in the streets to strive for success in life through sports. With what government did, they would be convinced that truly, there is ability in disability, even in sports. The London 2012 Games should serve as a lesson to Nigeria, because the

Adesokan

Victorious paralympians with President Goodluck Jonathan

‘Zeal, ruggedness spurred Nigerian Paralympians to victory’ world is dynamic. The athletes, who represented the country in London, complained about poor welfare. The authorities need to work on this for posterity. Other countries are perplexed on why Nigeria dominated the world in powerlifting at the Paralympics in London. So, the ball is now in the court of the National Sports Commission. It is now time to put on the thinking cap and ensure that youngsters, who will fly the country's flag at the Games in Rio de Janeiro, Brazil, in 2016, are raised to keep the tempo. When the curtain was drawn at the Paralympics in London, China was atop the table with 231 medals, denominated as follows: 95 gold, 71 silver and 65 bronze. Russia finished second with 36 gold, 38 silver and 28 bronze. The host, Britain, emerged third after amassing 125 medals in the shades of 34 gold, 48

silver and 43 bronze. The 2012 Paralympics recorded some dramatics. It was fitting that Oscar Pistorius of South Africa and David Weirin dominated the headlines in the athletics event of the Games. The two poster boys of the Paralympics - one, the face of the host nation, and the other, the biggest icon of Paralympics sport claimed two of the last gold medals available after 10 thrilling days of action on the track in the field and on the road. Pistorius may not have won as many gold medals at the London 2012 as he did in Beijing in 2008, but he remains one of the biggest draws in the sport and it was appropriate that he brought the curtain down on the action at the Olympic Stadium with his victory in the men's 400m - T44 in a Paralympics record 46.68. After beating USA duo of Blake Leeper and David Prince, the South African said: “I'm so proud. The summer has been a dream, come true. I couldn't have hoped for anything better.” That sense of achievement was shared by Weirin, who followed up his success on the track by claiming gold in the marathon - T54 on the streets of London. It completed a remarkable golden quadruple for the Brit, who added the marathon title to his sensational victories in the 800m, 1500m and the 5000m. However, the Paralympics athletics programme was far from a two-man show. Some of China's medals were won by Huang Lisha, who followed up success in the women's 100m - T53 with the 200m title. She also took silver in the 800m and bronze in the 400m events respectively. Compatriot, Zhou Hongzhuan, also claimed four T53 medals on the track, while Wang Zhiming won a golden tre-

Gloria

ble in the men's F40 shot put, discus and javelin competitions. USA also remained a force. Tatyana McFadden's haul of three T54 gold and one bronze, made her one of the stars of the Games, while Raymond Martin took four gold in the 100m, 200m, 400m and 800m - T52. Other notable successes came from Ireland, for whom Jason Smyth claimed a remarkable sprint double to confirm his place as the fastest Paralympian currently on earth by winning the 100m and 200m - T13. His teammate, Michael McKillop, achieved his own double in the 800m and 1500m - T37. Lord Seb Coe and his team at LOCOG organised the most amazing Olympic Games and Paralympics, where Brazil's Alan Fonteles Cardoso Oliveira announced his arrival as the new sprint force in the 200m - T44, beating Pistorius, before Algeria's Abdellatif Baka timed his finish to perfection to snatch gold in the 800m -

T13. Great Britain's Games was highlighted by other headline-grabbing performances, as Jonnie Peacock won the 100m -T44, Richard Whitehead claimed 200m - T42 glory and Hannah Cockroft did likewise in the 100m and 200m T34. For the real human interest stories, Houssein Omar Hassan of Djibouti, the country's only competitor at the Games, was cheered home by one of the loudest ovations at the Olympic Stadium when he finished almost seven minutes adrift in his 1500m - T46 heat. Brazil's Yohansson Nascimento stubbornly refused to give up in the 100m T46 despite pulling up injured. The 24year-old, a gold medal contender, saw his dreams ended early in the race by an apparent hamstring injury. But fighting back tears and to huge roars from the crowd, Nascimento hauled himself to his feet and limped agonizingly slowly across the line. It was amazingly great!

NEWS

58 Monday, September 24, 2012 DAILY SUN

SUN SPORTS MTN fetes winners of Lagos Street Soccer

TN, the sponsor of the MTN/Lagos Street Soccer, played host to the winners of this year’s edition of the championship at a banquet last Wednesday at 1960 Eagles Park, Ikeja. The event, which had in attendance members of staff of the Lagos Ministry of Sports, MTN officials, traditional chiefs, the media and sports fans, was organised to rejoice with the winners of the male and female categories of the championship. Koilo 1 of Lagos Island and Go-for-Goal of Ikotun-Igando LCDA, respectively emerged as the winners of the male and female categories. Remarks were made to commend the extraordinary talents at the championship. According to Mr. Deji Aladegbemi, Executive Secretary of the MTN/Lagos Street Soccer Local Organising Committee, the tournament witnessed an unbelievable turn-out in both categories where soccer artistry was celebrated. He revealed that about 900 teams registered. The teams, according to him, are representation of the cosmopolitan city. He revealed that religion organisations such as the Redeemed Christian Church of God and NASFAT entered not fewer than 50 teams for the competition just as we have groups and local governments’ teams. Further into the event, members of the Lagos State Ministry of Sports commended the discipline enforced by the ministry and how easily it was embraced by the teams. This, however, became the focal point of admonitions as Honorourable Kamar Olawale Salau-Bashar, Executive Chairman of Lagos Island East Local Council, who was a special guess at the event, admonished the winners to take along ‘the discipline they had already embraced that would blaze a greater path’for them in the future. Jinadu Yusuf and Kolawale Rachel, Captains of the male and female teams respectively, thanked MTN and the Lagos State Government for giving them and their team-mates the opportunity to display their talents. After a round robin elimination stages, Koilo 1 of Lagos Island emerged the winners of the male category of this year’s edition of MTN/Lagos Street Soccer, while Go-for-Goal, of Ikotun-Igando LCDA, emerged champions of the female category at the final played on the 16th of September, 2012 at Campos Mini Stadium, Igbosere, Lagos Island. MTN/Lagos Street Soccer is a 5-Aside tournament that is in its fifth season. As one of MTN’s ways of contributing to youths’ development, the tournament is a platform that gives Lagos young soccer talents privilege to showcase their skills and get exposed to advance facilities within Nigeria and overseas. The winners of this year’s edition of the tournament will travel to Spain, South Africa and Gambia where they will have the chance of training at Madrid soccer facilities and many others.

Katsina Max Air wins MTN Katsina Polo Nigerian Cup

he ongoing MTN 2012 International Polo Tournament that has been the talk of town in Nigeria and beyond has produced its first set of winners, even as the prestigious event braces for its grand finale this weekend. Katsina Max Air emerged the proud winner of the Nigerian Cup, the first trophy of the MTN-powered event which was decided before a full house at the legendary Sir Usman Nagogo Polo Ground. In all the events, it was the tournaments biggest honour, which saw the top firing Katsina Max Air making history. The victorious airliners who won their first Nigerian Cup title three years ago, maintained their winning run, defeating other competitor such as Kaduna Trappco in their opening clash, before out pacing former Champion, Abuja Rubicon In a fierce final battle to put the host, Katsina, ahead on the medal table, Lawal Mangal and his teammates Umar Kabir, Muhammadu Seriki and its Argentine import, Alejandro Paloneque, edged out two top rivals, Abuja Rubicon and Kaduna Trappco, to clinch the coveted title. The MTN fiesta, as a favourite, lived up to its billings against the ambitious Rubicon that was eyeing its second MTN title in four years, with a 6-4 victory in a tense final to emerge champion and winner of the prize which remains one of the most wanted titles in Nigerian Polo Federation (NPF) calendar. “We want to thank our supporters for their trust and encouragement even when we fell behind in the third chukkers. It was a sweet victory that would be celebrated for a long time to come, because defeating a strong and experienced team such as Rubicon took much courage,” declared an elated Mangal. Their victory in the events biggest prize would expectedly provide the needed energy that would fire other Katsina teams still vying for honours in other major prizes such as the General Hassan Cup, The Talba Cup and the Coomassie Cup respectively. The second major title to be carted home so far in the MTN Polo festival is the Usman Kabir Memorial Cup where Musa Kari led a selected side to brush aside the tall ambition of its opponent with a 4-1 victory to clinch the title played in honour of the late Emir of Katsina. Other glittering prizes to be carted home by the winners in this MTN International Polo fiesta, among others include, General Hassan Cup, the Talba Cup, the Coomassie Cup, the President Cup, Governor’s Cup, the Veterans Cup..

NEWS

Minister seeks Nigeria, Sudan partnership in sports

s the drive to reposition sports as a veritable tool for rapid socio-economic development of Africa continues, Nigeria and Sudan should take the lead in encouraging cooperation among African countries through the establishment of a bilateral relationship between the two countries. This was the position of Nigeria’s Minister of Sports and Chairman of the National Sports

Commission, Bolaji Abdullahi, in his remarks when the Ambassador of the Republic of Sudan, His Excellency, DR TAGELSIR MAHGOUB ALI, paid him a courtesy visit in his office last Thursday. Abdullahi noted that as countries with similar antecedents in the area of sports administration and football management in particular, Nigeria and Sudan stand to enjoy mutual benefits through

protocol agreement as such collaboration is bound to enhance sports development on the African continent. The minister further noted that Nigeria will encourage any initiative to pursue the course of sports development in Africa as according to him, “a lot can be done on the bilateral level to institutionalise sports as a vehicle for development of the continent.” Earlier, the ambassador said that

his visit to the Commission was premised on the fact that Sudan and Nigeria shared many things in common, especially in sports management and administration. While extolling the sterling virtues of Nigerian sportsmen on the global map of sports, he particularly expressed delight at the “exploits of about 65 Nigerian footballers in the Sudanese premiership league.

FIFA U-17 Female World Cup

It’s not over for Flamigoes •We’ll improve on our next match – Dedevbo

ational Under-17 side, Flamingoes, was on Saturday held to a pulsating 1-1 draw by Canada at the Tofig Bahramov Stadium. Though the team spurned many scoring chances, it eventually got a goal through Ihezuo’s volley to equalize a one-on-one goal that gave the Canadians the lead in the 63rd minute. The team then pushed for a winner, but ultimately had to be content with a point. Coach Peter Dedevbo, who was amazed that his side could not win a match it deserved to, rued the missed chances. He, however, praised the girls for upping their game to get the much needed equalizer. “The game was good for my team. We created many scoring opportunities but could not utilise them. In the second half, the Canadians came at us and took the lead. But we were able to up our game and get the equalizer. “I will say that the girls under performed in the game, but I’m happy they equalized. I know that they will be different in the next game, as their performance will improve as the tournament progresses” he said.

Dedevbo, however, admitted to be anxious when the goals were not forthcoming, especially when the Canadians took the lead in the second half. He also said that he and his technical crew would put their heads

together to correct the deficiencies noticed in the Canada match. “After hitting the up right several times, I was worried the girls could not score, but I knew in the second half they would score, they did and I’was really happy.

“I and my technical crew we will sit down and discuss what changes to make to sharpen the team’s finishing tactics. I can assure Nigerians that the next game will be different” said Dedevbo.

Flamingoes celebrate a goal

Mikel deserves praise not abuse – Di Matteo C helsea’s midfielder, Mikel Obi, deserves praises and not abuse for the dirty job he does, his manager Roberto Di Matteo has said. “I had a good conversation with John, and he seems to handle it well (racial abuse on Twitter),” said the Chelsea’s boss, Di Matteo. “I have much faith in him. I think he's done extremely well for us in that position. It's a bit of a dirty job there to try and break up the opposition's play and it doesn't always get recog-

nised with the right credit.” Di Matteo has also condemned, in totality, the abuse rained on Mikel after the Champions League game against Juventus at Stamford Bridge last week. Meanwhile, Chelsea will ban any fans found to have sent racist tweets to the Nigerian international. The midfielder had already closed down his Twitter account on Thursday morning by the time the club was made aware of two highly offensive comments directed at him on the social media website.

It is not yet known whether the tweets came from Blues’fans angry with the mistake Mikel made last Wednesday night which led to the late Juventus equaliser at Stamford Bridge. But the club insisted it would deal as robustly as possible if provocative tweets is found to have been posted by Chelsea members or season ticket holders. “We haven't seen any evidence to suggest that those directing racist abuse were Chelsea’s supporters,” said the club spokesman, Steve Atkins.

Moyes hails exceptional Anichebe

verton’s manager, David Moyes, has showered praises on his Nigerian forward, Victor Anichebe, describing his display at Swansea as “exceptional”. Anichebe, who came off bench last weekend to help Everton recorded a 2-2 draw against Newcastle United, scored the opening goal as it ended Swansea’s unbeaten home record

courtesy of a 3-0 bashing of the Swans on Saturday. “We’ve been telling Victor Anichebe for years he is capable, he needs to have a little bit more self-confidence and self-belief. He is getting some goals and if he starts believing in himself, he will score more, he could have, maybe, had two or three today,” Moyes told BBC Sport. “He is doing a good job, he’s a good player and if he concen-

trates, he’s got a good future.” Moyes said he was delighted the big Nigerian striker had always delivered when called upon. “What you need when players do go out are players to step in and do the job and Victor Anichebe stepped in and if you keep playing like that, then you’re a threat in every game,” the Everton’s manager remarked.

“But we've made our position consistently clear over the years on any discriminatory behaviour, within our supporters. "Should any evidence come to light that any Chelsea’s supporter, season ticket holder or member is guilty of such abhorrent behaviour, then we would take the strongest possible action against them which would be to ban them.” Meanwhile, Mikel Obi has insisted he would not allow the racial abuse he suffered to affect him composure, though he expressed disappointed on such reaction. Mikel’s blunder gave Juventus the goal to draw level at 2-2 with defending champion, Chelsea, in a UEFA Champions League group game last Wednesday and he would subsequently be racially abused by some angry fans on his Twitter. The Nigerian star said that though he was sad over the abuse, he was getting over it as he now focused on doing well for Chelsea in subsequent games. "No one will be happy reading such things about himself. I was very sad.

NEWS DAILY SUN Monday, September 24, 2012 59

SUN SPORTS

NEWS

Madumere, pillar behind Heartland’s success By GEORGE ALUO

ne man whose name must come up for mention whenever the story of Heartland’s success in the last two soccer seasons is being told is Prince Eze Madumere. Madumere, Chief of Staff to Governor Rochas Okorocha, has, in fact, been described as the Pillar behind Heartland that this season won the Federation Cup back to back after breaking an 18year jinx last year. Little wonder it was celebration all the way last week at Heartland’s Club House, the Dan Anyiam Stadium, Owerri when Madumere was conferred with the prestigious national honour of Member of the Order of the Federal Republic (MFR). From Heartland’s General Manager, Chief Fan Ndubuoke, to Media Officer, Cajetan Nkwopara, down to the supporters of the club, it was flurry of praises for Madumere who they gave thumbs up for being there for the Naze millionaires. Ndubuoke told Daily Sunsports that the amiable Chief of Staff remains the unseen hand and architect of Heartland’s fine run in the domestic league. The Heartland’s boss disclosed that Madumere had always done his best, including making personal sacrifice to ensure Heartland play its matches and meet up with the welfare of its players. In his words:“Chief Madumere has been wonderful. In fact, he is one man we must give much credit when it comes to our success story. He is always there for us and doing everything possible to solve our problems. Mostly, I resume in his office in quest of funds and beyond making sure he gets the governor to give approval, he ensures such money gets to us. When funds are not forthcoming, he (Madumere) dips hand into his pocket to bail us out. He is one person that is passionate about football and the number one fan of Heartland at the Government House. And one thing I must say that has endeared him to me is the fact that he is always ready to listen to us and solve Heartland’s problems.” Heartland’s Media Officer, Cajetan Nkwopara, was quick to declare that Madumere’s national honour is an honour well deserved. “He is an astute administrator and we are happy with his national award. I am sure it is an award that would propel him to do more for Imo State and Heartland in particular.” Nkwopara noted that Madumere took personal interest in Heartland, a situation that has rubbed off positively on the club winning the club’s Federation Cup. He stressed that with the kind of support the club is getting from Chief Madumere, it would do well in the continent next season. “I must say that Chief Madumere’s national award is one we are savouring with him. He is one of our strong pillars. We are returning to the continent next seasson and we are sure he is going to stand by us. We are banking on his support to go far,” Nkwopara said. Meanwhile, Heartland has started its build up for the 2013 soccer season with a clean up that has seen it drop 14 players. Ndubuoke at a Press briefing in Owerri last weekend said the club would equally take steps aimed at rebranding. “We have to restructure and rebrand, we’ll run the club with a view to making profits and we must devise ways of bringing fans to the stands. To cut costs, we are definitely going to reduce our staff strength,” he said. Madumere

Van Persie’s penalty sinks Reds

en-man Liverpool was left searching for its first Premier League win under new manager, Brendan Rodgers, as arch-rival, Manchester United, came from behind to win 2-1 at an emotional Anfield on Sunday. This was Liverpool's first home match since an independent report cleared its fans of any responsibility for the 1989 Hillsborough disaster where 96 of the Merseysiders' supporters were crushed to death during an FA Cup semifinal. Liverpool played more than half the match a man down after Jonjo Shelvey was sent off in the 39th minute for a two-footed challenge on Jonny Evans. But it still took a 46th minute lead when captain Steven Gerrard –whose 10-year-old cousin, Jon-Paul Gilhooley, was the youngest fan to die at Hillsborough – volleyed home from near the penalty spot. However, United only had to wait five minutes for an equaliser when Rafael curled in a superb shot from the right-hand side of the Liverpool area. And with 15 minutes to go, United – that had missed its last three penalties – was awarded a spot-kick when Liverpool’s defender, Glen Johnson, brought down Antonio Valencia. There was a delay of several minutes as Liverpool’s defender, Daniel Agger, received treatment for an injury before Dutch striker, Robin van Persie, beat goalkeeper Pepe Reina. Victory saw United move to within a point of leader, Chelsea,

Nigeria’s Daniel Igali (m) and his admirers after he was inducted into the Sports Hall of Fame in Canada

NFF not keen to appoint technical director – Onigbinde By ROMANUS UGWU, Abuja

IFA’s former instructor, Adegboye Onigbinde, has chided the Nigeria Football Federation (NFF) on the delay in hiring national technical director (NTD), arguing that since the federation has not formally declared the position vacant, it is not even thinking about it. The Confederation of African Football (CAF) instructor, while tracing the unimpressive results national teams garnered to a malfunctioning technical department, told Daily Sunsports that the federation was very unserious about filling the vacant position. The Modakeke high chief, expressing worry over the delay in hiring NTD, said: “The media have reported me on several occasions saying that the nerve centre of every sporting organisation is the technical sector. We all know that football is a technical matter. No matter how good an administrator may be, if the results are not coming, people would certainly

call for your head. “But, we cannot get good result without a functional, virile technical sector. That is what make the position of a technical director very vital. From the president of the NFF to the messenger, they are there to worship the product of the technical department. So, if the technical department is not properly organised, they are definitely

joking. That is my idea. “One mistake we are making in this country is that we want to fashion the technical structure after that of FIFA and CAF. It is wrong because the associations don’t have a single coaching staff, no football club or team and no player under its control or in its employment. These are the differences.

Eguma blames Dolphins’ woes on late release of funds By ROMANUS Abuja

UGWU,

olphins FC of Port Harcourt former head coach, Stanley Eguma, has singled out late release of funds as one of the biggest challenges that confronted the team in the recently concluded league season. Eguma, who made the disclosure in a chat with Daily

Sunsports recently, admitted that he was not really satisfied with the performances of the Rivers State-owned team, stressing that the club did not get a pass mark. His words: “I’m not satisfied with Dolphins’ performances in the concluded season. It was not a pass mark for us because we would have done better. We planned to do better than we did last season winning the league, but unfortunately, it

Transatlantic Team Challenge Matchplay

Nigerian golfers relish opportunity to play in Las Vegas

s the lull that pervades Nigeria’s golf scene in recent times is gradually giving way to bloom, golfers will once again have opportunity to showcase their skill in clubs across the country. As some would be battling for honours in celebration of Nigeria’s National Independence anniversary, others would be sharpening theirs in preparation for the newest baby in the Nigeria golf calendar; Transatlantic Team Challenge Matchplay. Last played in 2009, the Transatlantic Team Challenge Matchplay; a Ryder Cup like competition return in a big way to Ikoyi club between October 5 to 7. The mouth-watering competition which is already attracting lots of commentary within the clubs is expected to attract a field of over 150-teams. Coincidentally, this year’s event coincides with South Africa’s Week and slots have been provided for South African Companies

“It is a question of whom you know and not what you know. I’m saying this as a general football in the world. We have our ways of doing our things. What I’m saying in effect is that since the saga about the foreigner abated, the NFF has not come out to declare that position vacant. What it means is that they are not even thinking about it anymore,” he remarked.

to sponsor a team of 2-players. In addition to this, arrangements have also been concluded to bring one of South Africa’s Professional Golfer James Kampte to Nigeria to conduct golf clinics for participants. The Chief Executive Officer of CMCL Golf Tours Limited, the events organizing outfit, Remi Olukoya said, bringing in South Africa is one of the ways of fostering the relationship between both countries in a relaxed atmosphere even as South African

Ambassador and deputy High Commissioner. will the special guest of hounour at this year’s event. Backed by Promasidor, Seplat Petroleum and Sonar Tusk, this year’s edition is expected to be highly competitive. The Transatlantic Team Challenge debuted 14 years ago and has grown to become the event of choice throughout the United Kingdom, United State, Asia, and other Africa countries including Nigeria.

could not work out as planned. “We had some of the best players but other factors affected us. It has to do with psychology and other things. However, we thank God and I know that sometimes it happens like that for us to take correction. We never had a cash-crunch, but we may not have acted swiftly or promptly. If funds were released on time, it goes a long way in helping because it falls in line with the programmes. “If it did not come at the right time, there is every possibility that it might affect the result. That was one of the areas we had problems, but, I won’t blame anybody because it was a general problem,” he said. Reacting to the alleged threat by the Governor of Rivers State to sell both Dolphin FC and Sharks FC, the Dream Team IV’s former assistant coach said: “I want to think that the governor was misquoted and I never paid any interest on it. I never heard the governor make such statement and there was no need reacting to something I think was not true.”

Southwest 1 Zonal Game ends in Ogun’s favour

s the zonal eliminations preparatory to the National Sports Festival ended in Ibadan last weekend, Ogun State’s athletes posted good performances by claiming nine out of 13 slots available in the six team sports events at the tourney. Ogun State pick tickets to represent the zone in male and

•As Oyo battles NSC coordinator over protest female categories of volleyball event, hockey male event, basketball female, football female Abula male, female and mixed doubles, and handball male event at the expense of Oyo State that played host to the event that just qualified the football male event, basketball

male, hockey female and handball female. Meanwhile, Oyo State protested to the zone 1 office of the National Sports Commission that organised the zonal games against Ogun State’s men volleyball team that they claimed fielded ineligible players.

DAILY SUN Monday, September 24, 2012

UCHE EZECHUKWU

CAPITAL MATTERS

0803 622 3337

onukwubel@yahoo.com

Writes on: “Arik’s reckless N150 MONDAY, SEPTEMBER 24, 2012 *VOL.7 NO. 2458

coops: the frantic digging for hot, steamy, exclusive stories, is the journalistic equivalent of a military coup de tat. Both scenarios involve discreet, meticulous, strategies and manoeuvres, and then, springing the ultimate surprise when you strike. Confounding your friends and dazing the opponent. Coups and scoops sound alike. Not surprising, as both entail almost the same consequences of failure: death. Physical death for the plotters in the case of the former, and material death in the latter. A warehouse of unsold copies. A newspaper consigned to mediocrity. Unremarked. Unheralded. Avanishing act as time goes on. And the total eclipse from the newsstands eventually. Little wonder, scoops are called the artery of a newspaper. At the formal launch of The Blueprint newspaper to mark its one year in the market last Thursday in Abuja, my colleague, Femi Adesina, drew the audiences’ attention to the similarity between scoops and coups. Reviewing the newspaper (which I had the privilege of doing on his behalf), Femi drew wide applause from the distinguished gathering when he dug deep into what happens when a newspaper successfully executes the coup of scoops. Former military president, General Ibrahim Badamasi Babangida (Special Guest Lecturer), himself a veteran of many successful coups, during the rampaging days of the military, suppressed a guffaw when allusions were made to the similarities between the two, especially when the reviewer deliberately emphasised the statement: “like coups, scoops are planned...scoops, like coups, are planned.” Not only the gaptoothed General, the whole audience went into a fit of laughter. The message, whatever it was, am sure was not lost. Everyone must have drawn whatever interpretation it wanted from the statement of the reviewer. Talking about coups, I hereby submit in today’s column that if Mallam Sanusi Lamido Sanusi, the Governor of the Central Bank of Nigeria, CBN, were not a banker, he surely could have been a soldier. Not just a soldier, a ‘coup plotter.’ I am speaking figuratively now. Here is what I mean: like a soldier, Sanusi is bold and courageous. He talks tough, almost brashly. He does not give a damn whose ox is gored as long as he believes he is on the right track or convinced on the correctness of his cause. And like a soldier, Sanusi loves to plan discreetly. He loves to spring surprises. He loves to do the seemingly unthinkable and ‘undo-able’. If he were in the military, Sanusi’s make-up is the stuff that institution would have been proud of. That individualistic pursuit of your convictions or decisions. The strong man taking on strong actions. However, for the Kano blueblood, what we have is a civilian dispensation. A democracy or, as the critics would say, a rough version of it. Under this era, no one man, no matter how brilliant or knowledgeable he believes he and his team are, can unilaterally take a decision that has profound impact on the lives of the collective. That’s what Sanusi has often attempted to do since he took office as the nation’s No.1 banker. He’s talked and done tough things. Some we have applauded, but many we have

blackmail”

Page 56

Sanusi’s currency misadventure

felt shocked and disturbed over. For me, I have found it difficult to understand why a man should always prefer to swim in troubled waters. Does it give him the kick whenever he wallows in controversy? May be. Some people, I believe, are just like that. They relish the limelight of controversies. If there are none, they become sick; and hurriedly create one. So, be it with Sanusi. Back to what I was saying. Sanusi has done a few positive things, in my non-economist’s view, that truly made some of us glad. The sanitisation of the so-called Soludo consolidation was a Sanusi ‘coup’ that freaked me. With the zeal of an angry Mullah, the swashbuckling man had taken a horsewhip through the back of some bank’s CEOs who couldn’t differentiate between depositors’ funds and free money, which they deployed to the lavish lifestyle of a monarch in Asia or the Arab world. Many, I am told, owned private jets and exotic yachts. Under Charles Soludo, a Professor of Economics, the banks and their CEOs simply consolidated our collective funds and lived life to the hilt. While some of the banks were either collapsing or in fact, nearer their graves, Soludo gave them a clean bill of health as they maintained a facade of buoyancy and robustness. However, Sanusi entered with a flaming sword and cleaned the place inside out. He opened the Pandora box, revealing a cesspit of stench. Mind-bogging skeletons of fraud crept

• Sanusi

out of sealed vaults. Even though Sanusi was said to be ethnically motivated in the clean up exercise, I didn’t think so. I thought some of his accusers were just talking crap, as no one could prove in absolute terms that those accused of fleecing the banks did not have their hands soiled one way or the other. Even as the cases appeared stalled in the courts, it is to Sanusi’s credit that the hitherto untouchable bank czars are having their day with justice on account of their alleged misdemeanours. Something that was unheard of in times past. Today, those entrusted with people’s money would think twice before helping themselves to a generous dose of the filthy lucre. I also was quite enthused by Sanusi’s altercation with the law makers over the bogus budget allocation to the National Assembly. At the 8th convocation of the Igbinedion University, Okada, the CBN helmsman had, in a lecture, declared that 25 percent of the federal budget was appropriated for the law makers, and expended on all kinds of items, including, of course, the frivolous. The legislators screamed blue murder, and promptly summoned him. They wanted a retraction. But, not Sanusi. He stood by what was credited to him in the media. When it was being suggested that his statement was anti-democratic, Sanusi would take none of that. He said: “I am here( at the CBN job) at your pleasure. I am not thinking of quitting, but if you want me to quit, I will gladly do so. I was one of those who fought for democracy. That I did not contest an election does not mean that I do not believe in democracy.” End of session. End of the drama of summoning the CBN governor to ‘eat his words.’ I wrote in this column then when the issue raged: “At the end of the whole event, Sanusi ended up, in my view, a hero. He portrayed himself as a man with strong balls. For standing up to his views, he earned my respect and I guess, that of millions of Nigerians. He didn’t say he was misquoted. He didn’t try to modify his views or make his statement more pleasant to the ears of the enraged Senators. He simply restated his position despite the bullying tactics employed by

Senator Iyiola Omisore and his committee members.” But, ever since , he has, in my opinion, suffered a somersault. He has continued to plot the wrong kind of ‘coups.’ From the controversy over religious banking, to the illadvised donation in Kano and Madalla, to the thoughtless proposed introduction of the new N5,000 currency, Sanusi has been putting the wrong foot forward. And this is quite sad for a man I really liked and spoke with on telephone on two or three occasions commending him for his forthrightness and proactive disposition. Please, permit me not to comment on the first two subjects as the disquiet over them appear to have died down and so doing would be akin to reopening old wounds. Instead, it is the N5,000 currency controversy(which happily has been killed and hopefully, buried forever) that demands a critical evaluation. I straightaway pitch my tent with the many commentators who kicked against the move. Like the preponderance of views expressed, I honestly thought it was a patently confused and confusing idea. Sanusi was approbating and reprobating at the same time, as the lawyers would say. A man who screamed himself hoarse on the cashless policy was, also, at the same time, sounding the drum beats for a higher currency denomination. Don’t carry cash, then carry a lot of cash in higher denomination. That sounded incoherent. And when the same man began to hurl verbal missiles at opponents of his organisation’s proposed programme, I thought he had gone beyond the limits. How could he call a whole former head of state and president an illiterate in economic matters. It doesn’t matter whether you like or dislike Chief Olusegun Obasanjo. As a Nigerian, like other Nigerians, he had the inalienable right to express his opinion on a public issue. And that was what he was doing. Sanusi, a man paid by all of us tax payers, didn’t have the right to blow such whiff of hot air over a public issue. He is, after all, supposed to be a public servant, serving all of us. Sanusi’s irritation with criticisms over the controversial new note clearly displayed a negative attitude that has become common place in government arena. And it should stop forthwith, if our country must make progress. Elected, appointed or otherwise, those who serve in government are not necessarily more knowledgeable than other Nigerians who are not in government. They are only privileged. No more. It is indeed, a welcome relief that this issue of a higher denomination of Nigerian currency has died a well-deserved death. Sanusi’s ‘coup’ of a new currency was, in my view, a coup against the poor people of Nigeria. A coup against the artisans, the unemployed, the market woman, the civil servant, and those who would have been further impoverished by it, because it wouldn’t have uplifted their standard of living in any appreciable manner. If, anything, Sanusi’s aborted N5,000 note would only have created an illusion of grandeur. Let’s toast to the failed ‘coup,’ fellow Nigerians. Apiece of advice to my friend, Comrade Sanusi: let the sleeping dog lie forever!

Published by THE SUN PUBLISHING LIMITED, 2, Coscharis Street, Kirikiri Industrial Layout, Apapa, P.M.B. 21776, Ikeja, Lagos, Nigeria. Telephone: 01-8980932, 6211239, Fax: 5895396 Advert Hotline: 01-7900632, 6211236, ABUJA OFFICE: 2nd Floor, Gouba Plaza, Utako District, Phone: 09-8700273-6. ISSN 0795-7475. All Correspondence to the above mail addresses. Website: www.sunnewsonline.com •Printed simultaneously in Lagos, Aba & Abuja EDITOR: STEVE NWOSU

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