Wednesday 13th April 2016

Inflation Gallops to 12.8 Per Cent James Emejo in Abuja The currency curbs introduced by the Muhammadu Buhari administration, coupled with fuel scarcity, have contributed to the increase in the Consumer Price Index (CPI), which measures inflation, to 12.8 per cent in March, compared to

11.4 per cent in February and 9.6 per cent in January, the National Bureau of Statistics (NBS) stated yesterday.

It blamed the 1.4 per cent rise in the headline index on an increase in the prices of

goods and services across the country, the highest year-onyear rise since July 2012.

The NBS stated that the planting season, transportation costs, as well as foreign exchange movements created

significant upward pressure on the food index in March.

It further stated that the knock on effect of foreign exchange movements, which have in turn affected the prices of imported food and non-food

items, the importation of petrol as well as the adjustment in the electricity tariffs nationwide resulted in a surge of rates.

According to the CPI figures for March released by the statistical agency yesterday,

CJ Directs Judge Handling Saraki's Case to Deliver Judgment... Page 9

the food index increased by 1.4 per cent to 12.7 per cent compared to what was recorded in February.

It added that all major food groups that contribute to the food sub-index increased at a faster pace while imported Continued on page 8

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Senate Rules out Including Calabar-Lagos Rail Project in Budget Asks executive to resubmit it as supplementary bill, moves to remove CCB from SGF’s office Udoma: Railway projects are very important to Buhari FG borrows N600bn monthly to pay salaries

Iyobosa Uwugiaren, Omololu Ogunmade in Abuja and Seriki Adinoyi in Jos The Senate yesterday ruled out

the possibility of reconsidering the inclusion of the N60 billion Lagos-Calabar rail project in the 2016 budget.

Instead the parliament

promised to consider it only if a supplementary budget is sent to it by the executive arm of government.

This came as a bill seeking

to remove the Code of Conduct Bureau (CCB) from the office of the Secretary to the Government of the Federation (SGF) passed the

first reading yesterday.

Briefing newsmen on the outcome of a closeddoor session held ahead of yesterday’s plenary, Senate

Committee Chairman on Information and Public Affairs, Senator Aliyu Sabi Abdullahi, Continued on page 6

Nigeria Offered $6bn Chinese Loan, Agrees Currency Swap to Shore up Naira President orders establishment of technical c’ttees on joint projects Dangote signs $2bn loan for cement plants, local firm closes granite mining deal

Tobi Soniyi in Abuja and Zacheaus Somorin in Lagos with agency reports China has offered Nigeria a $6 billion loan to fund infrastructure projects, the Minister of Foreign Affairs, Mr. Geoffrey Onyema, said yesterday in Beijing the Chinese capital.

“It is a credit that is on the table as soon as we identify the projects,” he told reporters

travelling with President Muhammadu Buhari to China.

“It won’t need an agreement to be signed; it is just to identify the projects and we access it,” he said.

The confirmation by Onyema coincided with an agreement reached between Nigeria and China yesterday on a currency swap deal, as it looks for ways to shore up the naira and fund a record Continued on page 6

Witness Says He Has No Record of FinancialTransactions with Badeh… Page10

President Muhammadu Buhari (second right), introducing the Chinese President, Xi Jinping (right), to the Nigerian delegation that accompanied Buhari on a three-day official visit to China… yesterday

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PAGE SIX NIGERIA OFFERED $6BN CHINESE LOAN, AGREES CURRENCY SWAP TO SHORE UP NAIRA budget deficit, possibly by issuing yuan-denominated bonds in China, reported Reuters.

Nigeria is facing its worst economic crisis in decades as sinking oil prices eat into its foreign reserves and the naira weakens against other currencies.

Nigeria has been for months looking for sources to help plug a projected 2016 deficit of N2.2 trillion ($11.1 billion) as Buhari plans to triple capital spending in the 2016 fiscal year.

According to Reuters, during Buhari’s visit to Beijing, the Industrial and Commercial Bank of China Ltd (ICBC), the world’s biggest lender, and Nigeria’s central bank signed a deal on yuan transactions.

“It means that the renminbi (yuan) is free to flow among different banks in Nigeria, and the renminbi has been included in the foreign exchange reserves of Nigeria,” Lin Songtian, Director General of the African Affairs Department

of China’s foreign ministry, told reporters.

The agreement was reached following a meeting between Buhari and Chinese President Xi Jinping.

The move comes after Finance Minister, Mrs. Kemi Adeosun, said on Saturday that Nigeria was looking at Chinese panda bonds yuan-denominated bonds sold by overseas entities on the mainland - adding that they would be cheaper than Eurobonds.

Nigeria’s central bank has said it plans to diversify its foreign exchange reserves away from the dollar by switching a stockpile into yuan. It converted up to a tenth of its reserves into yuan five years ago.

Lin said a framework on currency swaps has been agreed with Nigeria, making it easier to settle trade deals in yuan. China has signed currency swap deals with countries ranging from Kazakhstan to Argentina as

it promotes wider use of its yuan.

Beijing also signed agreements to develop infrastructure in Nigeria, part of a drive to deepen its ties with Africa. ICBC signed a $2 billion loan deal with Dangote Group, the company owned

by Africa’s richest man, Aliko Dangote, to fund two cement plants it plans, he told Reuters.

China’s official Xinhua news agency cited President Xi as telling Buhari that there was huge potential for economic cooperation, naming oil refining and mining.

Aly Khan Satchu, a portfolio manager at Rich Management, said the deal would pave the way for panda bonds but this would not be enough to ease pressure on the naira.

Buhari has rejected calls to devalue the currency.

“Nigerian FX policy remains the elephant in the room and China or a panda bond is not going to be enough to stop what will eventually become a tsunami of a devaluation,”

he said.

Towards this end, Buhari has directed that technical committees should be established immediately to finalise discussions on the new joint Nigeria/China rail, power, manufacturing, agriculture and solid mineral projects.

A statement by his spokesman, Mr Garba Shehu said the president gave the directive in Beijing yesterday after talks between his delegation and high-ranking Chinese government officials led by President Jinping.

The technical committees are to conclude their assignments before the end of next month.

Buhari had at the talks welcomed China’s readiness to assist Nigeria in her bid to rapidly industrialise and join the world’s major economies.

The statement said that President Jinping agreed that Nigeria’s chosen path of development through economic diversification was the best way to go.

To help Nigeria to achieve this, China promised to fully support the country through infrastructure development and capacity building.

China also expressed an interest in setting up major projects in Nigeria such as refineries, power plants, mining companies, textile manufacturing and food processing industries as soon as the enabling environment is provided by the federal government.

In response to Buhari’s desire to make Nigeria selfsufficient in food production, Jinping offered $15 million agricultural assistance to Nigeria for the establishment of 50 Agricultural Demonstration Farms across the country.

Shehu said China and Nigeria also agreed to strengthen military and civil service exchanges as part of a larger capacity-building engagement.

In line with this, China offered to raise its scholarship awards to Nigerian students

from about 100 to 700 annually.

In addition, 1,000 other Nigerians are to be given vocational and technical training by China annually.

The statement said Jinping applauded the war against corruption being waged by Buhari.

The Chinese leader assured Buhari that Nigeria would always have a special place in the affairs of the Peoples Republic of China.

After the talks, Buhari and Jinping witnessed the signing of several agreements and memorandums of understanding (MoUs) by Nigeria and China.

The MoUs included a framework agreement between the Ministry of Trade and Investment and the National Development and Reform Commission of the Peoples Republic of China.

Others were an MoU on aviation cooperation between the Ministry of Transportation

of the various ministries, departments and agencies (MDAs) of the federal government.

“Ministers were asked to go through the details and give their reactions as it affects their respective ministries so as to guide the president and enable him sign the Appropriation Bill into law.

“That process is still ongoing and no statement has been issued by the executive on the matter, apart from the one by the Minister of Information, Alhaji Lai Mohamnmed, to confirm that details of the budget are being examined. No final decision has been taken by the president and no other statement whatsoever has been issued on the matter,” he said.

But as the latest dust raised over the budget appeared to be settling down, the federal government yesterday owned up to challenges it is having meeting its obligations, admitting that it borrows on the average N600 billion every month to augment the payment of workers’ salaries.

Speaking at the opening ceremony of the 63rd General Church Council (GCC) of Evangelical Church Winning All (ECWA) held at its headquarters in Jos yesterday, the SGF, Mr David Babachir Lawal, who represented the president also lamented that the Buhari-led administration inherited a country that had been robbed mercilessly, hence leaving an ailing economy that must be nurtured and would have to be endured for some time before its stabilises.

He said: “The federal government borrows an average of N600 billion monthly and the federal government gets N130 billion, and sometimes if it is lucky, it gets N200 billion from the Federation Account. Yet we have an expenditure profile of roughly N800 billion to N900 billion a month.

"So, naturally, you need to augment sources from anywhere and from wherever you can find it. I am talking about local borrowings, not international.

“There is the ways and means to raise the money

(CBN printing money and issuing treasury bills), because the monies coming from the Federation Account is not enough and the figure is not fixed, so it varies from month to month, depending on what enters into the treasury and our own share of it from the Federation Account just like the states.

“And you remember that there was a time Osun State Government got N55 million in a month from the Federation Account and the state has a salary bill of over N4 billion per month, so you can see that the problems are too many.”

He however assured his audience that Nigeria would overcome the economic downturn within the shortest possible time.

He called on the church to join government in its fight against corruption by encouraging people to embrace honesty, transparency and accountability.

On the rising unemployment, the SGF said the government was working on programmes to open up the industrial sector and create employment opportunities for the teeming youths by encouraging all agencies and parastatals as well as foreign investors to create more employment opportunities and skills acquisition activities in the country.

Continued on page 8

SENATE RULES OUT INCLUDING CALABAR-LAGOS RAIL PROJECT IN BUDGET also said the Senate stood by its Monday position warning the executive against blackmail over the budget.

Abdullahi said having passed the Appropriation Bill, it was impossible for the National Assembly to revisit it, explaining that the only option left was for President Muhammadu Buhari to sign the budget and thereafter send a supplementary budget on the rail project as provided in the constitution.

He argued that the Senate had resolved to be guided by the constitution in handling the crisis emanating from the passage of the 2016 budget.

“Today, we have resumed plenary having come back from our recess and we went into an executive session which is the normal practice to welcome one another and discuss issues that we believe pertain to the burning issues on ground.

“In this case, the issue of the 2016 budget and the smooth workings of the Senate and the National Assembly were discussed.

Now, the statement we issued yesterday remains unchanged.

“Today, all we did was to confirm what exactly is the true picture of this situation and in my capacity as a spokesman of the Senate, I did not go to press with falsehood.

“One thing that is obvious is we have passed the budget, so what is important now is for the budget to be signed. The constitution has taken note of this kind of scenario where you may have omissions or shortfalls of allocations and Section 81 of the constitution is very clear on what you need to do which is to sign the budget and then submit a supplementary Appropriation Bill.

“I want to assure you that the Senate is not unmindful of the cries of Nigerians that we said, for example, that the Lagos-Calabar rail project was not in the budget does not in any way undermine its importance.

“It is a very, very important project for this nation to embark on and so the National Assembly, the

Senate is open if the executive brings a supplementary appropriation with respect to this issue and any other issue that they feel very strongly about.

“We are ready and willing to consider such but the most important point to note is that we want to remain guided by the provisions of the constitution.

“I think if we do that, all these raging controversies will be off our backs and we can all concentrate and put our energies to begin the process of implementing the 2016 budget so that those dividends of democracy – the youth unemployment issue, the empowerment of women, the social intervention programme, the infrastructure programmes, the agricultural programmes, can be addressed.

“The rains are already here and all other projects that we know will have to be kick started,” he said.

However, THISDAY learnt that the closed-door session was rowdy following protests by some senators who deplored the decision

by Senator Gbenga Ashafa (Lagos East) to issue a statement on circumstances surrounding the presentation of a supplementary budget by the Minister of Transportation, Mr. Chibuike Amaechi, on the N60 billion rail project.

It was also learnt that some senators accused him of dividing the Senate without bearing in mind that the Senate has a spokesman.

They also contended that Ashafa’s statement created the impression that the Senate was not speaking with one voice and considered counter-productive by his colleagues.

It was also learnt that Ashafa said he received threatening text messages from the House of Representatives accusing him of issuing a statement that his committee, Land Transport, recommended the project to the Appropriation Committee but did not know at which point it disappeared from the budget.

However, some senators were said to have thrown their weights behind Ashafa’s

action, saying his prompt statement was necessary at the time.

THISDAY also gathered that some senators said that the Senate should be blamed for the crisis which accompanied the passage of the budget, noting that if the clean copies of the budget had been made available to senators as is the case before the passage of the Appropriation Bill, the current controversy would have been nipped in the bud.

THISDAY also learnt that the parliament resolved to strictly apply Order 84 of its Standing Rules, which stipulates that it must form a quorum before it could meet.

This decision was said to have followed complaints by some senators that they were left out of some vital decisions.

On the CCB bill, the sponsor of the bill, Senator Peter Nwaboshi (Delta North), said the bill is seeking to remove the bureau from under the control of the SGF and place it under the judiciary, arguing that it was not healthy for the bureau to remain under the control of SGF. The move is not unconnected to allegations that the SGF has resisted several attempts made by some senators to see President Buhari on the trial of Senate President Bukola Saraki over false declaration of assets when he was the Governor of Kwara State between 2003 and 2011.

But as the Senate asked the executive arm of government to submit a supplementary budget for the Calabar-Lagos rail project, the Minister of Budget and National Planning, Senator Udoma Udo Udoma, said yesterday that the two major railway projects – Lagos-Kano and Calabar-Lagos – were very dear to the Buhari administration and would want both projects reflected in the budget submitted to the National Assembly.

In a statement signed

by Mr. Akpandem James, the Media Adviser to the minister, Udoma stressed that the two rail projects are part of those which the president is currently

negotiating funding with the Chinese government.

According to him, “With reference to the specific issue of the Calabar-Lagos rail project, we will like to state that the two railway projects, Lagos-Kano and the Calabar-Lagos, are very important projects of the present administration; and it was always the intention of the executive to have both projects reflected in the budget submitted to the National Assembly.”

The minister admitted that the Budget Office of the Federation made a number of errors in the initial budget proposals for a number of ministries, in the process omitting critical infrastructure projects.

He however added that the errors were all corrected by his ministry and the corrected versions were submitted to the relevant committees of the National Assembly, which included that of the Ministry of Transportation.

“The amended Ministry of Transportation budget was accepted by the relevant committees and that was the version defended by the Minister of Transportation and his team.

“The N60 billion provided in the budget for the LagosKano and Calabar-Lagos rail lines, respectively, is counterpart funding to support the Chinese financing for the projects.

“These projects are part of the Strategic Implementation Plan of the government which was disclosed by the Minister of Budget and National Planning at the National Economic Council (NEC) retreat in March 2016, in the presence of state governors. They were also mentioned by the vice-president last week in Lagos,” he clarified.

Senator Udoma hoped that with the clarification, the raging controversy over the Calabar-Lagos rail project would be laid to rest.

The minister added that immediately the budget was received, the president, who he said was desirous of signing the document into law as soon as possible, directed that copies should be made available to heads

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NEWS

Boko Haram Sent 44 Child Bombers to Nigeria, Cameroun in 2015 UN human rights experts call for progress in abduction of Chibok schoolgirls Boko Haram despatched 44 child suicide bombers to Nigeria and Cameroun last year, up from four in 2014, UNICEF, tracking the phenomenon said yesterday.

The UN agency said child suicide bombings have surged 11-fold over the last year, with children as young as 8, mostly girls, detonating bombs in schools and markets, a leading charity said.

Suicide bombings have spread beyond Nigeria’s borders, with an increasing number of deadly attacks carried out by children with explosives hidden under their clothes or in baskets.

“The use of children, especially girls, as so-called suicide bombers has become a defining and alarming feature of this conflict,” Laurent Duvillier, regional spokesman for the United Nations Children’s Fund (UNICEF), told the Thomson Reuters Foundation.

“It’s basically turning the children against their own communities by strapping bombs around their bodies,” he said.

Some young children probably do not know they are carrying explosives, which are often detonated remotely, Duvillier said.

Islamist Boko Haram’s sixyear campaign to set up an Islamic emirate in northeastern Nigeria has killed some 15,000 people, according to the U.S. military.

Outmanoeuvred after a regional offensive drove it from strongholds in Nigeria last year, it is increasingly using children to carry out attacks.

The tactic has proven effective in increasing the number of casualties, as people do not usually see children as a threat.

It is not clear how Boko Haram coerces children to carry out the attacks, but those who have been raped are more psychologically damaged and vulnerable, the U.S. Army says.

Amnesty International estimates Boko Haram has kidnapped about 2,000 women and girls since 2014 for use as cooks, sex slaves, fighters and suicide bombers.

It is two years since the militants abducted some 270 Nigerian schoolgirls in Chibok, many of whom were forced to convert to Islam and marry their captors.

Three-quarters of the suicide bombers have been girls, UNICEF said, who are often thought less likely to arouse suspicion, although that may be changing now.

Abducted boys are forced to attack their own families to demonstrate their loyalty to Boko Haram, it said.

Although many children are being released from captivity as the military reclaims territory from Boko Haram, they often face stigma and rejection.

A three-year-old girl rescued in Ma’Ala from Boko Haram “Some women would beat me,” 17-year-old Khadija, who lives in a camp for displaced people in Nigeria, told UNICEF. She and her baby, born of rape, escaped captivity during a Nigerian army attack on Boko Haram.

“They said: ‘You are a Boko Haram wife, don’t come near us!'” she told UNICEF. Almost one million Nigerian children are missing out on

education as Boko Haram has destroyed more than 900 schools and killed more than 600 teachers, Human Rights Watch also said yesterday.

“Boko Haram is robbing an entire generation of children in northeast Nigeria of their education,” Mausi Segun, Nigeria researcher at Human Rights Watch, said in a statement.

Meanwhile, ahead of the second anniversary of the

abduction of the schoolgirls in the town of Chibok in Nigeria, a group of United Nations and African human rights experts yesterday appealed to Boko Haram to immediately reveal the location of the girls, and urged the government of Nigeria to escalate its efforts to free all civilians kidnaped by the group.

“In the last two years, despite re-assurances from those at the highest level of the Nigerian government, the parents have not seen any concrete progress in locating and liberating their daughters,” the experts said. “The lack of access to information increases the suffering of the abductees’ families through false hopes and frustrations.”

The experts said that while they understand the security considerations put forward by the authorities, which prevent the disclosure of information, they are deeply concerned that “the grievances of the families and their most basic right to be kept informed about the plight of their loved ones has largely been ignored.”

The experts believe that the Nigerian authorities should meet the parents’ demand for the designation of a focal point to liaise with the families of abducted persons and provide them with regular information and assistance.

In the past two years, several abducted civilians have either managed to escape from Boko Haram or were freed by the Nigerian army. The UN and African human rights experts welcomed these operations and urged the authorities to ensure that those who have

been released are provided with adequate care, recovery and reintegration services.

The experts commended ongoing programmes such as the Safe Schools Initiative and the Victims Support Fund.

“We are nonetheless seriously concerned by the absence of follow-up in the provision of care, recovery and reintegration measures for victims of sexual violence,” they noted.

“The reintegration and rehabilitation of women and children are essential in the path towards lasting peace,” the experts said, recalling the findings of a joint visit to Nigeria in January by the UN Special Rapporteurs on the sale and sexual exploitation of children, on contemporary forms of slavery, and on the right to health.

“Both the Nigerian authorities and the international community should make it clear that all the alleged crimes perpetrated

by Boko Haram will be promptly, thoroughly and independently investigated, and those responsible, directly or as commanders or superiors, will be brought to justice,” the experts said.

“The declaration by the African Union making this year the African Year of Human Rights with a specific focus on women’s rights should be an additional call to action for African States and the international community to actively support Nigeria in its fight against Boko Haram and in addressing deep-rooted human rights violations such as gender-based violence and discrimination,” the experts concluded.

NIGERIA OFFERED $6BN CHINESE LOAN, AGREES CURRENCY SWAP TO SHORE UP NAIRA (Aviation) and the Ministry of Commerce of the Peoples Republic of China and an MoU between Nigeria and China on scientific and technological cooperation.

Meanwhile, Buhari yesterday in Beijing appealed to Chinese investors to consider citing industries in Nigeria instead of seeing the country as a market for dumping goods.

He called on the Nigerian and Chinese business communities to work harder to reduce the trade imbalance between both countries currently in China’s favour.

A statement issued yesterday from China by the president’s spokesman, Mr. Femi Adesina, said Buhari spoke at the opening of a Nigeria-China Business/Investment Forum.

Buhari said that trade and economic relations between both countries must be mutually beneficial and conducted with reciprocated respect and trust.

“Although the Nigerian and Chinese business communities have recorded tremendous successes in bilateral trade,

there is a large trade imbalance in favour of China, as Chinese exports represent some 80 per cent of the total bilateral trade volume. This gap needs to be reduced.

“Therefore, I would like to challenge the business communities in both countries to work together to reduce the trade imbalance.

“You must also imbibe the spirit of having a mutually beneficial relationship in your business transactions.

You must not see Nigeria as a consumer market alone, but as an investment destination where goods can be manufactured and consumed locally,” Buhari told the gathering.

The president said that his administration was committed to supporting investors that are ready to establish manufacturing and processing facilities in Nigeria.

“Last year during our meeting in New York, President Xi Jinping and I agreed to explore ways of practical cooperation in trade, investment, finance, human

resources, agriculture and fishing.

“We also agreed to strengthen industrial capacity cooperation in the manufacture of cars, household appliances, construction materials, textiles, food processing, and others.

“This is in line with our government’s focus on import substitution through the creation of a diversified and inclusive economy that will meet most of our consumption needs.

“Already, our Federal Ministry of Industry, Trade and Investment is working on projects and programmes that will correct the wrongs of the past and enhance the ease of doing business in Nigeria.

“The ministry’s efforts will be complemented by investment tax incentive programmes, public sector reform initiatives, as well as our zero tolerance stance on corruption.

“We also have an aggressive but realistic infrastructure development programme that forms the backbone of our economic diversification

policy. We are embarking on major power, road, rail, seaport and airport development programmes that will enhance the competitiveness of manufacturing businesses in Nigeria.

“The future is bright and I am very confident that our policies will make Nigeria the investment destination of your choice,” Buhari told the Chinese investors.

The president also assured them that his administration was doing everything possible to address concerns about security in Nigeria.

Buhari said that to consolidate on recent successes against Boko Haram, close to 20 per cent of the 2016 budgeted expenditure had been allocated to the Ministries of Defence and Interior as well as other security agencies.

“We are committed to protecting all lives and property within our borders.

You can therefore be rest assured that your investments in Nigeria will be safe and secure,” he said.

Business and trade relations

between Nigeria and China have grown astronomically in the last decade with bilateral trade volumes rising from $2.8 billion in 2005 to $14.9 billion in 2015.

Nigeria accounted for 8.3 per cent of the total trade volume between China and Africa and 42 per cent of the total trade volume between China and the Economic Community of West African States (ECOWAS) countries in 2015.

The efforts of the Buhari-led administration to diversify the nation’s economy away from oil also got a boost yesterday when an agreement that will herald one of the largest granite mining and processing plants in Africa was signed in Beijing between Shanghai Shibang Machinery Co. Limited (SBM) and a local company, Granite and Marble Limited.

The companies also signed an MoU to establish a plant for the assembly of mining equipment as well as supporting capacity building for the industry.

The signing ceremony was

the highlight of the business forum on production capacity and investment cooperation organised as part of Buhari’s state visit to China.

The granite mining and processing plant is being supported with the special intervention fund of Central Bank of Nigeria (CBN) through Zenith Bank Plc. Speaking at the signing ceremony, the board Chairman of SBM, Mr. Songke Yang, expressed optimism that with the commitment exhibited by Buhari during the forum, the plants should come on stream during the course of the year and promises to be a major player in the development of the nation’s solid minerals sector.

On his own part, the Chairman of Granite and Marble, Mr. Chiahemba Ayom, thanked the Ministers of Trade and Investment and Solid Minerals, as well as their agencies and the financial institutions for their immense support and encouragement in seeing the project through.

per cent in February to 12.0 per cent in March.

In the same vein, the average monthly price paid

by Nigerian households for a litre of petrol across the country increased to N134.69/litre in March compared to N99.76/litre

in February and N109.59/ litre in January, the NBS stated.

The official pump price of petrol was between N86 and N86.50/litre but figures provided showed that on the monthly average, Nigerians continued to

purchase petrol above the official rate in the period under review.

According to the petrol report for March from NBS, Borno and Lagos States recorded the lowest monthly average price of N87.00/litre and N90.08/

litre respectively.

On the other hand, Nasarawa and Cross River States accounted for the highest monthly average of petrol at N166.67/litre and N160.35/litre respectively.

Abuja recorded a monthly average of N104.90/litre.

INFLATION GALLOPS TO 12.8 PER CENT items as well as other domestic shocks continued to have ripple effects across many divisions that contribute to the core index which increased by 1.1 per cent to 12.2 per cent in March.

NBS said both the urban and rural inflation recorded

marked increases for the second consecutive month in March, as the latter’s index rose by 1.2 percentage points from 12.3 per cent (year-on-year) in February to 13.5 per cent in March.

The rural index increased by 1.3 per cent from 10.7

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News Editor Davidson Iriekpen Email davidson.iriekpen@thisdaylive.com, 08111813081

NNPC: Port Harcourt Refinery Back on Stream, Producing Five Million Litres Daily To take advantage of European refiners Spring switch to stockpile petrol

Chineme Okafor in Abuja

corporation had intelligence report that the scarcity of petrol The Nigerian National Petroleum Abuja was being complicated Corporation (NNPC) yesterday by instances of multiple said one of its refineries, the Port purchases by taxi drivers whom Harcourt Refinery, has again started he said have now abandoned refining petrol after it was shut their taxi businesses for black down some months back. market sale of petrol.

The corporation said during “Port Harcourt has been a monitoring exercise of petrol refining for quite a while distribution and sales at filing now, from last week, between stations within Abuja and its three and five million litres. environs that the refinery now We expect Kaduna refinary produces up to five million to begin any time soon and litres of petrol every day since we also have vessels discharging it came back on stream last fuel and so, all these combined week, adding that it expects measures will bring down the its other refinery located in situation,” Muhammad said.

Kaduna to come back on He further said: “When you stream next week. have this kind of situation, people Also, NNPC said it would take will naturally get agitated but advantage of the spring switch people are getting calm now in refining activities of European because they know the supply petroleum refiners to stockpile gap has now been bridged, and it petrol into strategic reserves is a question of distribution now. for Nigeria.

They are all patient and that was The Group General what happened in Lagos. The Manager, Public Affairs situation has virtually normalised of the NNPC, Garuba in Lagos because the motorists Deen Muhammad and cooperated.

Executive Director Supply “Still, there are some hitches and Distribution, Nigerian here and there but improvement Petroleum Marketing is what we are counting on and it Company (NPMC), Justine is what we should be expecting.

Ezeala, spoke with journalists “People always take advantage after the monitoring exercise. of situations and now we hear On his part, Muhammad taxi drivers now take advantage also alleged that the of the situation and find it

more profitable to join queues and round trip to sell to black market operators than doing their business. We will need to devise means of stopping people from diverting and round tripping.” Ezeala who confirmed that the Port Harcourt refinery was

CJ Directs Judge Handling Saraki’s Case to Deliver Judgment

EXPLORING ALTERNATIVE TO OIL

Tobi Soniyi in Abuja

The Chief Judge of the Federal High Court, Justice Ibrahim Auta, has directed Justice Abdul Kafarati to deliver judgment in a civil suit filed by the Senate President, Dr. Bukola Saraki, challenging the legality of his trial before the Code of Conduct Tribunal (CCT).

Justice Kafarati had earlier decided not to deliver the judgment even though it was ready because an online new medium accused him of allgedlly collecting bribe.

Saraki, who is standing trial for an alleged false asset declaration before the Code of Conduct Tribunal (CCT) had sued the Chairman of the CCT, Danladi Umar, and others involved in his trial, before the Federal High Court.

In the suit filed for him by his lawyer, Ajibola Oluyede, Saraki argued that his trial before the CCT, as currently constituted, was a violation of his right and that there was no way he could get justice under Umar, the tribunal chairman.

It is also Saraki’s contention that while the Economic and Financial Crimes Commission (EFCC) was currently investigating Umar for alleged bribery and at the same time prosecuting him (Saraki) before the tribunal he (Umar) heads, it was impossible for the CCT Chairman to do justice and act independently in his (Saraki’s) case.

Having taken arguments from parties in the case, Justice Kafarati had scheduled judgment for March 22, but when parties arrived at the court, he changed his

mind at the last minutes and informed parties that he was withdrawing from the case and returning the case file to Justice Auta for reassignment to another judge.

Justice Kafarati hinged his decision on publications by online media, which he (the judge) said had cast him in bad light and portrayed him as a compromised judge.

He said no matter in whose favour his judgment went, the losing party would habour the impression that he was influenced.

On March 23, Oluyede wrote Justice Auta, demanding that he prevailed on Justice Kafarati to deliver his withheld judgment, no matter who benefits.

Oluyede said: “It is our argument in the suit that the Code of Conduct Tribunal cannot act independently the way it is currently constituted because we believe It’s Chairman, Danladi Umar, who is currently under investigation by the EFCC, cannot be independent in deciding a case being prosecuted before him by the EFCC. “We have also contented that the EFCC, by admitting that the investigation of the case against our client was done by a special task force, as against the requirement of the provision in Schedule 3 of the Constitution, has usurped the exclusive duties of the Code of Conduct Bureau (CCB).

It is on that basis we argued that our client cannot get justice under the current arrangement and asked the court to quash the charge,” Oluyede said.

back on stream as well as the activities of the taxi drivers, explained that the corporation had increased daily products truck out to Abuja. He said Abuja and its environs got up to 204 trucks of petrol every day and should have no reason to still experience scarcity of petrol

in its filling stations.

Speaking on the NNPC’s intention to take advantage of the shift by European refiners to petrol refining following the spring period, Ezeala said: “What happens is that during the winter period, European refiners shift their production to meet demands for

heating oil in their countries and it becomes expensive to source for petrol and that was what we saw in March, but now that the spring has turned around, we are seeing them turn again to refining petrol and we will take advantage of that to stockpile our reserve because it is cheaper.”

L-R: Deputy Senate President, Ike Ekweremadu; Chairman, Heirs Holding, Tony Elumelu; Governor of Enugu State, Ifeanyi Ugwuanyi; DirectorGeneral of Oganiru, Ike Chioke; and Chairman, MTN Nigeria, Pascal Dozie, at the opening ceremony of the Oganiru Enugu State Investment Summit, Enugu...yesterday

Zaria Clash: AI Insists Army Must Account for the Slaughter of 347 Shi’ites Sect members cannot be compelled to appear before panel, says chairman Senator Iroegbu in Abuja and John Shiklam inKaduna The Amnesty International (AI) has called on the Nigerian military to give a convincing account on the alleged killings of 347 Shi’ites during the clash it had with members of Islamic Movement of Nigeria (IMN) on December 12 last year in Zaria, Kaduna State.

The AI Nigeria in a statement made available yesterday by its Media Manager, Mr. Abdulrazaque Bello Barkindo, called for proper investigations into the reported killings.

The rights group demanded that the “revelations of the slaughter and secret burial of 347 members of the Shiite religious group in mass graves by the army must be urgently investigated, and anyone suspected of criminal responsibility for these crimes must be brought to trial.”

According to AI, the acknowledgment of the extrajudicial killings which took place between December 12 and 14, 2015 in Zaria, were made by a Kaduna State government official at a public hearing of the Judicial Commission of Inquiry and echoes its findings.

This stand was re-echoed by the Country Director of AI Nigeria,

Mohammed Ibrahim, saying: “The horrific revelation by the state government that hundreds of Shiites were gunned down and dumped in mass graves is an important first step to bringing all those suspected of criminal responsibility for this atrocity to trial.

“It is now imperative that the mass grave sites are protected in order that a full independent forensic investigation can begin. The bodies must be exhumed and Nigerian authorities should immediately reveal the whereabouts of those held in unacknowledged detention and either charge or release them.”

The AI said it has been conducting research in the Zaria killings since January 2016, adding that a “comprehensive report will be published in the near future.”

The global human rights watchdog had also in a statement last year, called for urgent investigation to the clashes between the Nigerian Army and members of a Shiite religious group in Zaria, demanding that anyone found responsible for unlawful killings must be brought to justice.

Ibrahim was then reported to have said: “Firearms should only be used as a last resort, if strictly unavoidable, in order to protect life. It is crucial that the authorities

refrain from using excessive force and ensure that anyone responsible for unlawful killings is brought to justice in fair trials.

According to him, Nigerian security forces have a history of carrying out unlawful killings and other human rights violations.

He alleged that in the course of security operations against Boko Haram, Nigerian military forces had committed serious human rights violations, war crimes and acts which might constitute crimes against humanity in North-east.

Meanwhile, the Chairman of the commission, Justice Muhammad Garba Lawal, said the the Islamic group cannot be compelled to appear before the commission.

Recall that the Islamic group had withdrawn its appearance demanding the release of its leader, Sheikh Ibraheem Zakzaky, alleging also that some members of the commission were anti-Shiite.

The refusal of the group to appear before the commission and the decision of the commission to go ahead with its work without hearing the group’s side of the story during the clashes has raised questions about fairness in the investigation.

However, in an interview with journalists yesterday in

Kaduna, Justice Lawal said the commission had been fair to all the parties involved in the clashes by asking them to come and present their stories, declaring that the commission cannot compel anyone who chooses not appear before it.

He explained that the commission is only required to provide the opportunity to the parties to come and present their sides of the story and does not have the power to compel anyone to come.

“Let me state the commitment of this commission to give fair hearing as enshrined in the constitution of Nigeria to all the parties involved in the Zaria clashes.

“The provision is that all the parties shall be given adequate opportunity, which is reasonable in the circumstances of the assignment, to present their own side of the story.

“The commission is only required to provide the opportunity to the parties to come and present their sides of the story and because the Islamic Movement of Nigeria (IMN) is a party that is directly involved, the commission under the law does not have the power to compel it to come and state its side.”

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WEDNESDAY APRIL 13, 2016 • T H I S D AY

NEWS

Witness Says He Has No Record of Financial Transactions with Badeh Alex Enumah inAbuja A witness of the Economic and Financial Crimes Commission (EFCC) in the ongoing trial of former Chief of Defence Staff (CDS), Air Chief Marshall Alex Badeh (rtd), has told Justice Okon Abang of a Federal High Court in Abuja that he did not keep any personal record to prove all the cash transactions made between him and Badeh.

The witness, a former Director of Finance, Nigerian Air Force, Air Commodore Abdullahi Yushau, disclosed this yesterday during cross examination by the defence counsel, Chief Akin Olujimi (SAN).

Yushau, while admitting that he was the Head of the Directorate of Finance,

however, told the court that the command’s finance officer whose duty was to keep record has all the records of the amount of the dollar equivalent he handed to Badeh at his official residence on monthly basis and other transactions.

Badeh, alongside his firm, Iyalikam Nigeria Limited, is being prosecuted by the EFCC, on a 10-count charge of money laundering bordering on alleged fraudulent removal of about N3.97billion from NAF’s account.

The anti-graft agency accused Badeh of using the fund to buy and develop landed property in Abuja for himself and his two sons between January and December 2013.

He however pleaded not guilty to the charges.

At the resumed hearing yesterday, the witness told the court during cross examination that he could not remember the exact amount of money he gave to Badeh during the course of their transaction.

“I cannot remember the exact amount of dollar equivalent that I gave to Badeh in November 2012 and other cash transactions we had because it was not my duty to keep records.

“All the records of the cash transaction are there in the NAF command finance account office.

My command finance officer wrote a statement at the EFCC and I am sure the records are there in his statement,” Yushua said.

He also maintained that the sum of N90miliion was used for the purpose of furnishing a property belonging to Badeh junior, adding that he did not include it in the statement he made at the EFCC. “The total sum of N90 million was used to purchased and furnisha property belonging to Badeh son.

“I did not include this in my statement because I was responding to the EFCC agents based on their

line of questioning.

“I still maintain the records of all these details with the NAF command finance account,” he said.

When asked on how monies were disbursed to the command, he said he did not know how the budget was being processed.

He explained that: “When allocations were made to all NAF formations, the money is disbursed to all the formation and my deputy finance officer was in charge of our allocation.

“If there is any need for fund

in our directorate, he writes to me and I approve, and then they go to the NFA headquarters to collect the money.

“It is the duty of the finance officer to render returns of all monies released to the unit on behalf of the directorate.

“I was the accounting officer for the directorate that was why I approved every expenditure from our own allocation.”

The matter has been adjourned to April 19 for further cross examination and continuation of the trial.

Fayose: 2016 Budget Row Confirms Buhari’s Incompetence, Ineptitude Olakiitan Victor in AdoEkiti Following the controversy between the presidency and the National Assembly over the 2016 budget, Governor Ayodele Fayose has said the fierce battle has confirmed his allegation that President Muhammadu Buhari was clueless and incompetent to rule Nigeria. Fayose said: “Nigerians should expect more blunders like this until they send Buhari back to Daura in 2019.”

The governor, who said it was now obvious that the President and his All Progressives Congress (APC) only wanted power desperately without the wherewithal to govern.

“I warned Nigerians of the consequences of electing an octogenarian as president and with the international embarrassment that this budget crisis has become, I have been vindicated.”

In a statement issued yesterday by his Special Assistant on Pubic Communications, Lere Olayinka, the governor said: “It is obvious that there is total disconnection between the president and his cabinet members as many of the ministers don’t even have access to him probably because the president spend most of his time resting as a result of his old age.”

He said; “The reality is that the President is challenged by age, exposure and ability. He did not read the budget proposal that he

presented to the National Assembly and this should be a lesson for those who clamoured for a Buhari’s presidency that no man can give what he does not have.

“The question is; can a minister present supplementary budget to the National Assembly and can the National Assembly act on budget proposal submitted by a minister?

“It is shameful that after blaming former President Goodluck Jonathan and the Peoples Democratic Party (PDP) for close to one year, the presidency is now blaming the National Assembly for its inability to prepare a common budget.”

The governor commended the National Assembly for exposing the lies and hypocrisy of the presidency, saying it was shameful that President Buhari and his men could blame the National Assembly for their own incompetence.

He called on the National Assembly not to succumb to blackmail and intimidation from the Presidency, saying that the way and manner the Presidency was going about blackmailing and intimidating other arms of government, especially the judiciary should worry lovers of democracy and good governance in the country.

The governor, who declared that Nigeria will no longer be ruled by octogenarians, said: “Nigerians must have now come to terms that I warned them that Buhari is too old to govern a country like Nigeria.”

LETTHERE BE LIGHT

LagosStateGovernor,Mr.AkinwunmiAmbode(middle),unveilingtheplaquetoinauguratetheLightUpLagosProject fromIle-Zik–TollGate,SangoOta ontheLagos-AbeokutaExpressway...yesterday.WithhimareSenatorOlamilekanAdeola(thirdright)andExecutiveSecretary,LagosStateSecurityTrust Fund,Dr.AbdulRazaqBalogun(secondright)

Buhari’s Approval Rating Falls Again President Muhammadu Buhari’s approval rating has slipped further from 32.8 per cent in February to 31.2 per cent in March, amid worsening economic crisis and crippling fuel scarcity, according to a new poll.

The monthly poll by Governance Advancement Initiative for Nigeria (GAIN),according to Premium Times, said more Nigerians again scored Buhari low on his administration’s handling of the economy, power and fuel shortage.

It is the second time the president’s rating dropped since GAIN in December started monthly tracking of performance of governments at all levels in Nigeria.

In earlier months, the poll found that majority of respondents did not blame President Buhari for Nigeria’s economic troubles. They blamed former President Goodluck Jonathan instead.

In January, the president’s approval rating stood at 63.4 per cent.

The trend however shifted significantly in February as the nation’s economic crisis bit harder.

In March, which is the latest result, the poll said more Nigerians continued to blame Buhari not Jonathan for the nation’s economic woes.

The falling rating was primarily due to petroleum scarcity, bad economy, power outage, and broken campaign promises, said

the poll.

“A crippling fuel scarcity continued to affect individuals and businesses across the country, and had a concomitant effect on transportation and business costs,” said Malcolm Fabiyi, one of the poll’s coordinators, who previously served as a visiting professor at the Lagos Business School.

The president scored low on economy, power, and rule of law.

The poll also found that Nigerians voted the Agriculture Minister, Audu Agbeh, as best performing minister.

Ibe Kachikwu, the Minister of State for Petroleum, who was voted best in February, slipped to third position, as a result of the fuel crisis, and his remarks that he was not a magician to end the scarcity.

The poll also reported lower rating for the Buhari administration’s anti-corruption war, with Nigerians disappointed by slow pace of prosecution and lack of convictions. There were also increased concerns about abuse of rule of law in anti-corruption fight.

The March GAIN survey was administered using electronic media.

Eight hundred and seventy six (876) complete responses were received.

The survey results have a 95 per cent confidence level and ± 4 per cent margin of error, according to the coordinators.

Kogi Assembly: House Summons AGF, IG over ‘Unseal’ Order Nine members of assembly suspend embattled speaker, others Damilola Oyedele inAbuja and Yekini Jimoh inLokoja

The House of Representatives has summoned the Attorney General of the Federation, Mr. Abubakar Malami, over his letter instructing the Inspector General of Police, Mr. Solomon Arase, to unseal the Kogi State House of Assembly, in contravention of the take over by the National Assembly.

Malami had allegedly described the takeover of the functions of the assembly as illegal on the grounds that the state was not experiencing insecurity, and that the takeover is being challenged in court.

The House with concurrence from the Senate had taken over the Kogi assembly following crises caused by the impeachment of the Speaker, Hon. Jimoh Lawal, by five out of the 20 sitting members.

The decision was taken following the adoption of the report of a fact finding delegation instituted by the House, which recommended the takeover as the assembly was no longer sitting due to the crises.

The House yesterday at resumption from Easter recess constituted a 22-man ad hoc committee to summon the AGF

over his declaration that their takeover was illegal. The IG is also expected to appear to explain why he sought advice from the AGF after the National Assembly had already gave the takeover directive, in line with Section 11 (4) of the 1999 Constitution as amended.

This followed a motion of urgent national importance sponsored by Hon. Ossai Nicolas Ossai (Delta PDP) who noted that the letter by Malami is a direct attack on the National Assembly.

The Majority Leader, Hon. Femi Gbajabiamila, also noted that the AGF’s interpretation of Section 11 (4) was wrong.

Meanwhile, the lingering crisis rocking the assembly continued yesterday as nine members of the House suspended the embattled Speaker, Hon. Momohjimoh Lawal, representing Okene II state constituency, and 10 other members loyal to the speaker for their alleged involvement in the leadership crisis rocking the legislative assembly since November last year.

The suspension order issued in the assembly at plenary followed adoption of a report of the factional ad-hoc committee inaugurated on March 10 this year.

T H I S D AY WEDNESDAY APRIL 13, 2016

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NEWS

Tempers Flare as House C’ttee Tackles AGF on MTN Fine Negotiation CEO apologises for shunning invitation, withdraws offensive letter Damilola Oyedele in Abuja Tempers flared yesterday when members of the House of Representatives Committee on Telecommunications tackled the Attorney General of the Federation, Mr. Abubakar Malami, for taking over the negotiations of the fine imposed on MTN Nigeria by the Nigerian Communications Commission (NCC).

MTN had been fined N1.04 trillion for failing to deactivate 5.2 million unregistered SIM cards in line with NPC regulations.

The fine was later reduced to N780 billion.

Malami at the hearing, cited Section 174 of the 1999 Constitution as granting him the right to take over the negotiations, adding that as the chief law officer of the country, his office can take over proceedings that was instituted by any authority or person.

“To discontinue at any stage before judgment is delivered any such criminal proceedings instituted or undertaken by him or any other authority or person,” he cited.

The AGF disclosed that the MTN had approached his office to seek an amicable resolution to the matter, but was instructed to first withdraw the suit it had instituted against the federal government and pay N50 billion in good faith, an instruction the company complied with.

He added that a special account, FG Asset Recovery Account, was specially opened by the Office of

the Accountant General for the N50 billion to be paid into.

Hon. Ehiozuwa Agbonayinma queried why a different account was opened for the fine, instead of it being paid into the Consolidated Revenue Account.

He also asked the AGF to explain the difference between an Asset Recovery Account and Asset Verification Account.

As other members kept harping on the necessity of opening a special account for the fine, a visibly upset Malami voiced his objections.

“Mr. Chairman, I take exceptions to any insinuations that I opened an account,” he said and added for emphasis that the fine was not paid into the account of the Ministry of Justice.

He thereafter pleaded his right to silence as more questions on the account were raised.

Hon. Ossai Nicholas Ossai however said Malami must answer the questions as they are intended to assist the House in its duties of investigation to expose corruption or inefficiency as granted by the constitution.

The committee members insisted that while the terms of payment of the fine can be reviewed, the fine itself cannot be reviewed downwards as the NCC Act is clear on the amount stipulated as fine.

Power cut in the hearing room saved the situation as after the power was not restored in 13 minutes, the Chairman, Hon. Saheed Fijabi, was forced to adjourn the meeting to Thursday.

Meanwhile, before the drama ensued, Malami had categorically stated that negotiations have not been concluded on the fine. He disclosed that MTN lawyers have made a proposal to the government on terms of payment, adding that all relevant Ministries, Departments and Agencies of government have been contacted for their input.

The proposal of MTN seeks electronic transfer of N50 billion on December 31, 2016 in five years in same date, until 2020.

The committee frowned at the fact that this would imply that MTN would only pay N300 billion in cash, and the rest of the fine in ‘kind’.

At the opening of the hearing, the Chief Executive Officer of MTN, Mr. Moolman Ferdinand, apologised for not appearing at the last hearing of the committee to which he had been invited.

Moolman had instead sent a letter referring the committee to the fact that the matter was being resolved amicably with the office of the AGF. The letter urged the committee to interface with the AGF over the matter.

The action drew the ire of the members who threatened to issue a bench warrant for his arrest, prompting his appearance yesterday.

He also formally withdrew the letter.

The Minister of Communication, Mr. Adebayo Shittu, was also at the hearing alongside officials of the Ministry of Finance, the NCC, and the Central Bank of Nigeria.

Nigerian, Camerounian Forces Kill Three Boko Haram Commanders, 22 Fighters Rescue 1,275 hostages as NAF jets pound terrorists’ logistics base Senator Iroegbu inAbuja The Nigerian military in collaboration with Camerounian forces, has inflicted heavy losses on Boko Haram terrorists, killing three of their Commanders and 22 fighters.

This is coming as the Nigerian Air Force (NAF) F-7NI jet pounded the terrorists logistic base in Kangarawa, Borno State.

The Director of Army Public Relations (DAPR), Col. Sani Usman, in a statement, said troops of 152 and 155 Task Force Battalions at Operation Lafiya Dole in conjunction with troops of Multinational Joint Task Force (MNJTF) from Cameroun, conducted a massive joint clearance operation of suspected Boko Haram terrorists on Monday, along Nigeria-Cameroun borders.

According Usman, the joint force in “unprecedented clearance operation swept through over 10 suspected Boko Haram terrorists hideouts along the border in which they killed 22 terrorists, arrested

three Ameers (commanders) and rescued abducted persons.”

During the operation, he said the troops cleared Nbaga, Bula, Dabube, Ybiri, Greya and Suduwa towns and other adjoining settlements.

“The towns and settlements were occupied by suspected fleeing Boko Haram terrorists who escaped from villages previously cleared by troops of the Nigerian Army. The apprehended terrorists commanders included Lawal Abba, Mallam Hisna and Mallam Gana in Shatte, Bulla Jaja and Bula Burra towns,” he disclosed.

The army spokesman said the “troops also rescued 1,275 persons held hostage by the terrorists,” adding that “the rescued persons are being administered and screened by 152 Taskforce Battalion pending onward movement to Internally Displaced Persons (IDPs) camp.”

He expressed satisfaction at the operation, saying that it “was a huge success as there was no casualty or injury on the troops.”

In a related development, the NAF had in continuation of its employment of airpower to decimate the capability of the insurgents, successfully taken off another logistics base belonging to the Boko Haram.

The Director of Public Relations and Information (DOPRI), NAF, Group Captain Ayodele Famuyiwa, said the latest air strike was carried out on Monday by NAF F-7Ni fighter aircraft against the insurgents’ location at Kangarawa in Northern part of Borno State.

According Famuyiwa, the scale of accompanying inferno and multi explosions, as seen from the footage of the air strike, suggested that the location possibly housed a fuel or ammunition dump.

The strike, he noted, constituted another major setback for the insurgents, while providing tangible evidence of many of the recent successes recorded by the air component of the Operation Lafiya Dole.

T H I S D AY WEDNESDAY APRIL 13, 2016

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T H I S D AY • WEDNESDAY, APRIL 13, 2016

COMMENT

Editor, Editorial Page PETER ISHAKA Email peter.ishaka@thisdaylive.com

OLUJIMI’S ABORTION BILL (3) Sonnie Ekwowusi argues that the bill is uncalled for

T

he word “gender” obviously includes homosexual gender, lesbian gender, transgender female, and transgender male. As we speak, a bill called the “Toilet Bill” is pending in the legislative houses of some states in the United States. In this bill, the states are re-thinking the law banning students in public schools from using the bathrooms that correspond to their sex. While transgender people argue that restricting female and male students to bathrooms that correspond to their sex is discriminatory and against the “principle” of equality, the majority argue that male and female students are biologically different and therefore should use the bathrooms that correspond to their sex.

Is this not madness? We should not allow the gender madness now destroying western societies to destroy us. We should avoid swallowing hook, line and sinker everything that comes from abroad especially from the United States. With due respect, I am not sure those using Senator Biodun Olujimi to enforce the provisions of the Protocol to the African Charter on Human and People’s Rights on the rights of Women 2003 (otherwise called the Maputo Protocol) and the Convention on the Elimination of all Forms of Discrimination against Women (CEDAW) in Nigeria really explained to her the meaning of Maputo Protocol. In case Senator Olujimi does not know, attempts to domesticate Maputo Protocol and CEDAW in Nigeria by virtue of section 12 12(1)(2)(3) of the 1999 Constitution have been met with stiff oppositions. Why? Because article 14 (2)(c) of the Maputo Protocol which endorses abortion at all stages of pregnancy without exception is incompatible with the language of African values, and in particular with the language of African Charter which upholds the human rights of both the child and the mother. Therefore Maputo Protocol is unacceptable and must not be domesticated in Nigeria. Maputo protocol probably was hurriedly ratified on December 16, 2004 by a bunch of Nigerian officials probably over a glass of champagne without the least knowledge of the content of the protocol. But since then Nigeria has discovered that Maputo is incompatible with the Nigerian cultural reality and therefore has refused to domesticate it.

CEDAW may sound nice to the ear. But the “discrimination” which CEDAW is out to abolish is that a married woman is the owner of her body, and, therefore should be allowed to use it the way she wants. Specifically articles 12 and 16 of CEDAW clearly endorse abortion and infanticide. Under CEDAW, motherhood is a discriminatory concept which impairs the health of women. To address a married woman as a mother is to look down on her. It is preferable for a married woman to be having sex and avoid having children at all costs because begetting of children injures her health.

Why should a married woman stay at home and be having children whereas the man who is responsible for the pregnancy is freely going about and working outside the home? promoters of CEDAW query. At the United Nations, all women are addressed with the prefix “Ms” because “Mrs” and “marriage” are derogatory and discriminatory concepts. In fact the promoters of CEDAW including our own Professor Osato Giwa-Osagie said that they are still studying how men can start becoming pregnant so as to take away the “burden” of having children that has been perpetually placed

THE PROMOTERS OF CEDAW SAID THAT THEY ARE STILL STUDYING HOW MEN CAN START BECOMING PREGNANT SO AS TO TAKE AWAY THE ‘BURDEN’ OF HAVING CHILDREN THAT HAS BEEN PERPETUALLY PLACED ON WOMEN

on women. I remember once at the United Nations there was an intense deliberation that ran into 3am. What was the deliberation all about? To compulsorily get married men to engage in baby-sitting, baby-carrying and preparation of meals alongside their wives, all in the name of equality between a man and a woman. While the American and European Union delegates busied themselves lobbying for these family responsibilities to become internationallybinding on men, the African group simply told them that in Africa many married women joyously and voluntarily undertake to fulfill these responsibilities because to them it is one way of enriching their dignity, personality and motherhood, even though there are husbands who partake in baby-carrying and preparation of meals with their wives. This is just a small illustration of a cultural difference. So you cannot deny the fact we are different people. In some places in America and Europe, a wife may complain that the husband does not partake in the preparation of meals. But here in Nigeria a mere entering the kitchen could fetch a man a slap from his wife. Some marriages in Nigeria are seriously threatened by the fact that the husbands shun their wives’ meals in preference for their own self-prepared meals.

Therefore before copying any foreign law, we should first ascertain whether the law conforms to the Nigerian cultural heritage. Is Senator Olujimi aware that a couple of years ago some Nigerian religious leaders met in Kaduna and agreed that CEDAW is foreign to our lifestyle and therefore should not be accepted in Nigeria because it is capable of destroying our cherished religious and cultural values? More importantly, CEDAW is incompatible with the Declaration on the Right and Welfare of African Child (1979), African Charter on Human and People’s Rights (1981) and African Charter on the Rights and Welfare of African Child (1990). Article 12-Health-of CEDAW states: “States shall ensure that women have equal rights with men to access to health care services, including reproductive health services”. Article 16, Marriage and Family life-of CEDAW states: “States shall ensure that women have equal rights with men in relation to marriage and as parents, as well as in respect of other aspects of family life”. If you want to really understand the meaning of the aforesaid articles and how CEDAW is implemented in those countries that have agreed to ratify and domesticate it, just Google and read CEDAW Recommendation 24. If you do, you will find out that there is a CEDAW Committee that regulates how CEDAW is implemented in countries that have agreed to ratify and domesticate it. The committee’s access to abortion or reproductive health services is compulsory in all countries that ratify and domesticate CEDAW. It is on record that the CEDAW Committee has pressurised more than 37 countries to legalise abortion in their respective countries. Therefore CEDAW must not be imported into Nigeria. If the United States which enacts and enforces liberal laws hasn’t ratified CEDAW, it means that there is something seriously wrong with CEDAW. Solution: Olujimi’s bill should not be re-presented as the Senate President suggests. Why? Because a lot of egregious women rights issues which the bill purports to tackle are already taken care of by our 1999 Constitution which is the supreme law of the land.

BETWEEN DOCTORS AND OTHER HEALTH WORKERS

H

ow long shall we remain victims of physical assault while performing our lawful duties? Physical assault on medical doctors, especially resident pathologists is becoming a regular occurrence in our tertiary hospitals. When I read the expected defence by the University College Hospital, Ibadan, chapter of Association of Medical Laboratory Science of Nigerian (AMLSN), exonerating one of their members, I began to wonder when this childish and barbaric behaviour would stop. Indeed, it is not yet clear to me if the law ever permits one to brutalise others or whether the law will expect that those who are constantly made victims of such brutality should live and stay with their oppressors all in the name of maintaining peace. So, I ask once again, how long will doctors shall suffer in the hands of other health workers?

It is very sad and indeed quite disheartening that the latest story concocted in defence of the Assistant Chief Medical Laboratory Scientist who physically assaulted a medical doctor in the line of her official duty sounded more like what one finds in home videos. Otherwise, how can one explain a situation where the resident doctor was accused of fomenting trouble? According to their story, the resident doctor came into the office and went straight to the place where slides were packed, collected what she wanted and when she was told to arrange the slides, she started slapping and jabbing at the face of the assistant chief medical laboratory scientist. Such an accusation is not only unfounded but preposterous to say the least. Hence, anyone who believed such a crap needs to undergo psychiatric evaluation.

Yet, as if that was not enough they even went

The recent assault on a medical doctor at UCH was not unexpected, writes Paul John further to allege that the incident occurred before witnesses who expectedly must be JOHESU members, commissioned and tutored for the sole purpose of actualising the JOHESU mandate. Is it a crime for resident pathologists to coexist with the medical laboratory scientists in our clinical laboratories? In dealing with this matter, one must not lose sight of the remote and immediate causes of this altercation and subsequent assault against our resident pathologists. In law, people talk about mens rea (or the guilty mind). In other words, one of the legal maxims that might help us appreciate the issue at hand is: Actus reus non facit reum nisi mens fit rea, which may operationally be interpreted as saying that an act does not make a person culpable unless the mind is guilty. This is why a judge can deliver a judgment either in favour or against a driver who is accused of killing somebody on the road depending on whether there is a guilty mind or not. For instance, S. 24 of the Criminal Code and other relevant sections that are in pari materia with the provisions of the said section in other enactments clearly exculpate such a driver if no guilty mind is established because “...a person is not criminally responsible for an act or omission, which occurs independently of the exercise of his will, or for an event which occurs by accident” (S.24, CC).

This provision is only subject to the proviso clearly spelt out in the self-same section regarding negligent acts or omission in which case if the collateral facts of the incident reveal a prima facie case of negligent act or omission or malice aforethought then the driver would be brought within the provisions of sections 315-319 of the Criminal Code and similar provisions in the relevant sections of the Penal Code or the Administration of Criminal Justice

Law (Lagos State). I have embarked on such a legal excursion not as a lawyer but as a sensible layman in matters of the law to show two things. First, the causal factor leading to the assault as adduced by her assailant and those who gave evidence against her cannot be the true reflection of what actually transpired. Secondly, that show of shame witnessed at UCH was nothing but a manifestation of pent-up anger and malice against medical doctors by their supposed neighbours in the health sector.

This second point can easily be established given the antecedents of JOHESU members and their unbridled as well as open hatred against medical doctors.

Perhaps a little anecdote will clarify matters. My experience while in a paramedical course in the university opened my eyes to the present plight of medical doctors. In those days I was made to see every student in Medicine and Surgery as my enemy. If the person greeted me on the road, I would tell myself that the fellow wanted to announce his or her presence whereas, if the medical student in another occasion decided not to greet me, I would say to myself that the fellow was arrogant.

Fortunately, I got some friends who were passing through what I was passing through. Anytime we came together we would discuss the arrogance of medical students. We declared a cold war against a set of people who might not even know we existed.

While we were doing that we were still writing JAMB and borrowing courses that would allow us change over to Medicine and Surgery. Was that not a self deceit? We hated the people in a course but we could do anything humanly possible to secure admission into the course. We naturally felt inferior to the medical students. At the department

level, some of our senior colleagues would always come to talk to us, assuring us that the paramedical course we were studying was better than Medicine & Surgery but upon further investigations we later found out that those seniors colleagues tried all they could to change over to medicine after their first year. But it was either they could not score the minimum CGPA (Cumulative Grade Point Average) required or that the department refused to release their files.

The inferiority complex I suffered was unimaginable. In fact, I used to claim that I was a medical student at home and outside the school premises in those days such that some members of my family and friends even went ahead to address me as a ‘doctor’ when I was a mere paramedical student. However, barely one month we started our studies in the university, an incident happened that initially embarrassed me but later became the driving force that made me what I am today. We were introducing ourselves at a function in Onitsha when I introduced myself as a first year student of Medicine and Surgery, UNN. Unknown to me there was a first year UNN medical student in the gathering. When he finally introduced himself I felt uneasy, though I intermittently assured myself that there was no way that young man could have known all his classmates within one month we all started studies at Nsukka; besides almost all the courses were general courses hence it would be difficult for him to have known all his classmates in such a short time. Despite my assurances, I still felt inferior and uncomfortable as a barefaced liar while the function lasted.

Dr John wrote from Port Harcourt, Rivers State

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T H I S D AY • WEDNESDAY, APRIL 13, 2016

EDITORIAL THE GRUESOME DEATH OF A COLONEL

T

Who killed Samaila Inusa? Security agencies could do more to curb the booming crime of kidnapping

he recent abduction and killing of Samaila Inusa, a colonel in the Nigerian Army, was yet another example of the worsening insecurity in the country. That a senior military officer could have his life summarily snuffed out by yet-to-be-known assailants was further indication of how much more unsafe ordinary Nigerians have become. Therefore, while we commiserate with the family of the late colonel and the Nigerian Army, if ever any wake-up call was needed, this is one big tragedy that should worry the authorities, especially given the circumstances under which it happened.

The late colonel, who was serving with the Nigerian Army School of Infantry, Jaji near Kaduna, was kidnapped along with his wife around 7 pm in Kaduna on March 27, 2016. His kidnappers had enough time on their hands to drop off his wife before they drove away with him. Two days later, it was his decomposing body that was found.

This is one murder case that raises serious posers: abducted on a SunTHE GOVERNMENT day and found dead SHOULD DEPLOY ALL on a Tuesday without IN ITS ARSENAL TO any demand for MAKE KIDNAPPING AND ransom, suspicions ALL OTHER FORMS OF are rife that someCRIME IN OUR COUNTRY thing was amiss, AN UNPROFITABLE particularly given the ENDEAVOUR circumstances of his demise. We therefore enjoin the military authorities to be meticulous in fishing out those responsible for this most heinous crime and bring them to justice. In the past, similar instances had led to immediate reprisal attacks from the military, most often directed at wrong targets.

Happily, this has not happened. But we do not have to wait for it to happen.

However, the abduction of a top military officer and what appeared to be an execution is worrisome.

Certainly, we cannot continue with this kind of mindless killings, whose perpetrators roam our

Letters to the Editor

A

streets fully confident that the long arm of the law has no chance of apprehending them. That is why it is important that the killers of Colonel Inusa be caught and punished.

Incidentally, the incidence of kidnapping for ransom and deaths occasioned by the inability or refusal of victims to pay ransom has been on the increase across the country. The situation is more dreadful than it appears, as only high profile cases are reported by the media. With increasing regularity, hundreds of persons, including children are kidnapped. Yet the security forces have been less than able to deal with this menace that has put citizens on edge.

T T H I S DAY

EDITOR IJEOMA NWOGWUGWU DEPUTY EDITOR BOLAJI ADEBIYI MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR KAYODE KOMOLAfE CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN

T H I S DAY N E W S PA P E R S L I M I T E D

EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAfE, ISRAEL IWEGBU, EMMANUEL EfENI, IJEOMA NWOGWUGWU GROUP FINANCE DIRECTOR OLUfEMI ABOROWA DIVISIONAL DIRECTORS PETER IWEGBU, fIDELIS ELEMA, MBAYILAN ANDOAKA, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTORS HENRY NWACHOKOR, SAHEED ADEYEMO CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI GENERAL MANAGER PATRICK EIMIUHI GROUP HEAD fEMI TOLUfASHE ART DIRECTOR OCHI OGBUAKU II DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO

he more serious danger is that following the glaring impotence of the authorities, this malfeasance appears to have developed into a full scale industry. In the northern parts of the country, for instance, bandits are said to be losing interest in the more laborious rustling, and are settling for kidnapping, which they find less tasking and more profitable. Similarly, in the southern parts of the country, gunmen are turning away from robbing property to carting away human beings for huge ransoms. No doubt, their encouragement comes not only from the lucrative nature of their anti-social acts but also from the fact that they are getting away with their crimes.

Accordingly, President Muhammadu Buhari, who rode to power on the back of the citizens’ discontent with his predecessor’s handling of the national security challenges must rise to the occasion by moving firmly against this rising crime. Obviously, the prevailing internal security architecture is inadequate to tackle this growing menace called kidnapping. That is why we recommend its total overhaul with a view to strengthening the capacity of our security agencies to deal with this specific crime. The way to go is for government to deploy all in its arsenal to make this and all other forms of crime in our country an unprofitable endeavour.

TO SEND EMAIL: first name.surname@thisdaylive.com

TO OUR READERS Letters in response to specific publications in THISDAY should be brief (150-200 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (9501000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer.

AMBODE’S STEADY PROGRESS IN LAGOS

s Lagos State Governor, Mr. Akinwunmi Ambode hosts the third quarterly Town Hall meeting in Ikorodu (Lagos East Senatorial District) to render account of his stewardship, the people would, no doubt, anticipate a meeting that will bring an outcome similar to the previous Town Hall meetings of his government that resulted in major infrastructure strides such as the reconstruction of Ikotun, Ejigbo and Iyana Ipaja roads, among others. He would be visiting Ikorodu as the governor that completed and launched the 13.5 Mile 12-Ikorodu road expansion project.

The past 10 months of the administration’s life span have witnessed numerous developmental strides. For instance, to make Lagos State the most investors’ friendly city in Africa, the administration recently unveiled “Ease of Doing Business Strategy”. Similarly, the administration has just connected 67 communities to the national grid in addition to building capacity of the state workforce for more effective service delivery to Lagosians.

Beyond doubt, the Ambode has made frantic efforts to rebuild the confidence of the people in the capacity of the leadership class to work for the general good of the people. It was very useful that he took over the reins of leadership from a man, largely adjudged to have done very well. It was also crucial that he came into a party tradition that invokes a certain level of consciousness that compels elected leaders to either shape up or ship out.

No doubt, the All Progressives Congress has an admirable philosophy that combines very effectively with its acute consciousness to prod everyone in its fold to a predetermined direction. Still, looking back,

it is interesting to see how in barely one year, Governor Ambode has forced a new and overarching consciousness on Lagosians.

Shortly after his inauguration, a few commentators had wondered if Ambode can fit into the shoes of his most recent predecessors.

That was immediately after his inauguration and in the thick of crippling traffic gridlock and armed and traffic robbery cases across the state. But the governor had reacted swiftly like a brave warrior by embarking on massive road projects, relocation of all congested bus stops, enhanced security and the Light up Lagos Project. The Ambode administration also resorted to construction of pedestrian bridges across key locations in the state.

Perhaps, the most audacious of all the administration’s strides is the one that involves security and lighting up of the state. The combination of the two has yielded massive results that finally establish the governor as a visionary leader. With the tightening of the screws on security, Lagos had her face made up for investment suitors.

Not unmindful of the need to have a healthy populace, Ambode has paid attention to the healthcare delivery sector. Determined to turn things around in the sector, the administration has taken proactive steps to address issues affecting the sector to guarantee positive development.

To this end, the government has improved on healthcare facilities in the state by injecting additional ambulances to the existing pool all in a bid to reduce maternal mortality and tackle emergencies. These also serve as part of efforts to increase access to the grassroots and to enable them take possession of services they render in the various localities. The governor has also impressed it on residents of the state

to make use of the ambulances adding that they are available 24/7 if residents call 112 whenever there is an emergency. It will be recalled that in the past, there was no capacity to tackle emergencies in the state until 2001 when former Governor of the state, Asiwaju Bola Ahmed Tinubu inaugurated ambulance services as part of effort to tackle healthcare needs of the state. Also, power generating sets and x-ray machines were supplied to all General Hospitals to ensure 24-hour power supply. Similarly, more paramedic staff and special medical coordinators were recruited to ensure 24 hours service in public health facilities. Similarly, government has regularised the appointment of all casual medical doctors.

A strong financial base is definitely required for any government to translate its vision into reality. For Lagos, the economy remains strong, in spite of current global economic crisis because of Ambode’s vast knowledge and experience in financial management. He planned the financial stability through implementation of creative ideas and concepts. His administration has restructured the public service for optimal performance. That has achieved a reduction in the cost of running government by pragmatically blocking leakages and tightening up weak structures. Similarly, the state’s choking debt exposure has been restructured from 18% interest rate to 12.5%, thereby freeing N3 billion every month for the state to put into other pressing use. The bold move of relocating government agencies on rented apartment with bogus yearly rent payment to the state secretariat is another shrewd move by the governor.

Rasak Musbau, Lagos State Ministry of Information and Strategy, Alausa, Lagos

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T H I S D AY • WEDNESDAY, APRIL 13, 2016

MIDWEEKPOLITICS

Group Politics Editor Olawale Olaleye Email wale.olaleye@thisdaylive.com 08116759819 SMS ONLY

THE NEWSMAKER

Bello’s Tumultuous Homecoming

The Kogi State Governor, Alhaji Yahaya Bello, last week, visited his country home for the first time as governor. It was no less a deserved break from the crisis that presently defines the state, writes Yekini Jimoh

O

n April 2, history was made in Kogi State, when Governor Yahaya Bello of the state, for the first time since he was elected visited his country home. The event was no less historic because since the creation of the state over 30 years ago, it was the first time a minority tribe was elected as governor of the state. The first time an Ebira person was elected was in 1979, in the old Kwara State, when the late Adamu Attah under the defunct National Party of Nigeria (NPN) became the first civilian governor of the old Kwara State.

Therefore, the election of Bello was no less significant, especially for the people of Ebira land, whose son had been asked to head the affairs of the state after many years of denial.

The people trooped out in their thousands to grace the occasion, organised by the chairmen of the five local government councils in the Kogi central senatorial district of the state.

All the traditional rulers, politicians, supporters and members of all the political parties in Kogi central graced the occasion. The roll call too was of who is who in Ebira land and in the diaspora. It did not end there, other Kogi indigenes, the Igalas and the Okuns, Nupes, the Oworo, the Kakandas, the Igbos and the Hausas were present, pointing to the fact that the event was more than a mere reception.

The event which took place at the Ohinoyi Civic Center in Okene has been described as epochal in the life of the people of Kogi central by the Ohinoyi of Ebiraland, Alhaji Ado Ibrahim.

Former chairman of Okene Local Government Council, Alhaji Nasiru Abdullahi Soso, said “I was Okene’s Local Government chairman 25 years earlier, now a politician and community leader. With unity among the Ebiras, we give gratitude to God for his (Bello’s) emergence.

It has been our desire for some time now and this time, God decided to give it to us.

“On the backwardness of the state, I will say he has started well by recognising all the ethnic groups in the three senatorial districts.

He is trying to bring equity and balancing in the administration of the state. Our hope is that he would continue in this vein so that at the end of the day, every Kogi indigene will be happy that the governor has brought a serious change in the administration of Kogi State.”

However, addressing the people, Bello said there was a passion to life in Okene, which endears it to anyone who is fortunate to be born, raised or live in it. For a true Okene person, even if he is not Ebira, that passion cannot be found anywhere else.

“I know what Charles Dickens, the great English writer meant when he said ‘…every traveler has a home of his own, and he learns to appreciate it the more from his wandering.’

My search for self-actualisation may have taken me to distant lands and nearby places but Okene is always home. These mountains, these valleys, these great undulating terrains, are full of strong memories for me. My heart is here.”

He also agreed with Joseph Conrad’s statement that “We wander…over the face of the earth, the illustrious and the obscure, earning...our fame, our money, or only a crust of bread; but it seems to me that for each of us going home must be like going to render an account.”

Bello said on December 6, 2015, shortly after he emerged Governor-elect, “I returned home to you so we could celebrate and thank the Almighty together. Today, I feel like I have come home to render an account of my stewardship of Kogi State, her people and her resources

Bello...back to the root

in the 2 months and 5 days I have served as governor.”

Governor Bello noted that he met a Kogi State that was severely challenged in every way imaginable. Civil Servants were being owed months of salaries, the debt burden was high, the Treasury was empty, and security across the state had deteriorated. Infrastructure deficit or no infrastructure at all was the norm, among many other challenges. “The reality on the ground everywhere was enough to discourage anyone. Thank God we were prepared.”

Continuing, he posited that the first thing they realised was that Kogi State would not tolerate excuses, so they got down to work. “I am glad to report that some of the innovations and solutions we deployed to achieve results, especially the Quick-Wins, are already paying off handsomely. Others will take a little more time to mature.

“We have started cleaning up the Civil Service.

The election of Bello was no less significant, especially for the people of Ebira land, whose son had been asked to head the affairs of the state after many years of denial. The people trooped out in their thousands to grace the occasion, organised by the chairmen of the five local government councils in the Kogi central senatorial district of the state

You will not believe the level of subversion of the state’s loyal workforce that our Screening Team has uncovered. We found one person putting as many as 300 ghost-workers on the payroll of a Local Government somewhere.

And he is just one of many.”

Bello noted that the temptation to use the money available for other things was great, but they have chosen to prioritise “the welfare of our workers. In that regard, they have paid two salaries in less than two months. We paid the first batch of salaries across board and without asking too many questions even though we knew the nominal rolls were compromised.

This was to help actual workers, who needed money to handle their responsibilities “The second batch we paid with the personal guarantee of the Head of each MDA because we reasoned that change begins with each of us, and a leader should know those working under his immediate supervision. By the time we conclude the Screening, it is our intention that only actual workers will be taking salaries from the State. We will also let the Law take its course with those suspected of putting ghost workers into the system.”

In the area of infrastructure development, the governor said they have started repairing some critical roads and drainages “to reduce the adverse impact of the rainy season on our people,” adding that Okene and environs are some of the beneficiaries so far.

“We have refurbished and operationalised three Health Care Centres across the state within these same two months. These interventions are obviously Quick-Wins,” he stated, adding that his Administration will definitely touch every part of Ebiraland.

“Ebiraland has lost many colossal leaders in recent times to death, both through natural incidents and in tragic accidents. The list reads like a Who-is-Who in Ebiraland. Great men like Ibrahim Attah, Sanni Omolori, Senator A.T Ahmed, Usman Ovatemi, Adamu Attah,

Musa Etudaiye, John Lawal, Shuaibu Omoyayi, and others. Their passing is a great loss to our land. I condole with the Ebira nation, and their immediate families. Their deaths should also remind us that we cannot be losing people through uncontrollable circumstances, and be losing others through entirely preventable crises,” he said.

On the frequent crisis in Ebira land, Bello said he feared that with the pace of intertribal hostilities and external aggressors, a generation of Ebira has arisen who believe this attribute means they could not forgive their brothers, when they wrong one another or that they must fight themselves at the slightest provocation, “otherwise, how do you explain the frequent unrests in Okene, and Ebiraland?”

He therefore called on the People to work with his administration to reassure the rest of the People in Kogi that Ebira People can be both gracious and competent in leadership.

“I am here today to say it is in the best interests of the Ebira to let peace prevail among ourselves. It is only in the atmosphere of peace that our acumen and enterprise will find the most forceful expression, leading to more prosperity in our Land. We are working round the clock to improve the parlous security situation we met.

“I sound a warning here to those, who provoke unrest in Okene, or elsewhere in Ebiraland.

I also warn those who will allow themselves to be provoked. Remember that even though I am your kin I am also the Governor and Chief Security Officer of Kogi State. I will not hesitate to wield the big stick even against my own family members if they threaten the peace or security of any person or part of Kogi State,” he warned.

He said every person across Kogi State will be well-advised not to break the law. “If you do, I will ensure that the law is merciless in CONTINUED ON PAGE 17

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T H I S D AY • WEDNESDAY, APRIL 13, 2016

ENCOUNTER

MIDWEEKPOLITICS

ReubenIzeze:APoliticianWorthWatching In this encounter with Hon. Reuben Rume Izeze, a member of the Delta State House of Assembly from Ugheli South Constituency, Segun James reveals the many parts of the activist turned politician

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hy would a politician, lawyer and petroleum engineer consider activism as his way to unwind? But that ordinarily is not surprising given Comrade Reuben Izeze’s antecedent. The lawmaker representing Ughelli South Constituency and Majority Whip of the Delta State House of Assembly was an activist while at the Petroleum Training Institute, Warri and still an activist as a member of the state’s legislature.

He was the Students’ Union leader and Public Relations Officer of National Association of Nigerian Students (NANS) Zone B in 2001, when political thugs invaded the institute, a situation which led to some serious pandemonium. At the end, several students were injured and one was killed.

Izeze took the battle up to the office of Governor James Ibori, who did all he could to rehabilitate the wounded students and compensate the family of the deceased. From that moment, Izeze became a wanted man. He became a marked man for political ascendancy because Ibori was impressed with the young man and his handling of the situation that followed the crisis between the students’ body and the state government.

Immediately after his national youth service with the American oil giant, Exxon Mobil as a Production Operator in Eket, Akwa Ibom State, Izeze was appointed Ibori’s special assistant on students’ affairs. He did not disappoint the governor on the mandate given to him to bring good rapport between the government and the entire body of students in the state. That was the beginning of the journey of the activist and petroleum engineer into politics.

After the Ibori government, Governor Emmanuel Uduaghan, who also found the man resourceful and hardworking appointed him senior special assistant on protocol. Even as Izeze was enjoying his new political ascendancy, he still had his mind on education as he proceeded to the Delta State University, Abraka to study law. He was honored as the best graduating student from his department during the 8th Convocation ceremony of the University.

Just about the time he graduated from the Nigeria Law School, Abuja campus as a barrister and solicitor of the Supreme Court of Nigeria, he was beckoned upon to be the Peoples Democratic Party (PDP) candidate for the Ughelli South constituency.

Since the hand of God was believed to be upon him, the people of the constituency overwhelmingly handed him their mandate.

Izeze took the battle up to the office of Governor James Ibori, who did all he could to rehabilitate the wounded students and compensate the family of the deceased. From that moment, Izeze became a wanted man. He became a marked man for political ascendancy because Ibori was impressed with the young man and his handling of the situation that followed the crisis between the students’ body and the state government

Izeze...an emerging leader

But his opponents were incensed that he won not just the ticket but also the election that followed. He was dragged before the elections tribunal and won.

Unsatisfied with the decision of the tribunal, his opponents once again headed for the Federal High Court, again, Izeze won. A jubilant Izeze cried that “the Federal High Court sitting in Warri dismissed the suit brought against us (challenging the mandate freely given to us by the wonderful people of Ughelli South Constituency) for lack of competence.

A firm believer in God and his ability to do mysterious things in the lives of man, Izeze said “I am overwhelmed by the show of love and support I have received from my constituents

and the people of God since this unanticipated matter crept up in May 2015.

“This process has been a challenging and distracting one, considering the fact that we never anticipated that men, who hugged us and gave their blessings would make a volte face, discarding honour and integrity to pursue this vindictive course of action for reasons that we still can’t fathom.

“However, God was with us and provided men, who stood by us throughout this challenging period.”

He was particularly grateful to the Delta State Governor, Senator Ifeanyi Okowa for being one of the people, who stood by him at his trying period. Despite the fact that he

is now a lawmaker, the Comrade lawmaker is still an activist.

Izeze was born in Makurdi, the Benue State capital to Uhrobo parents from Oginibo in Ughelli South Local Government area of Delta State.

He had his early education at Army Children Primary School Jos between 1977 and 1983 and secondary education at Government Secondary School, Jos from 1983 to 1988. He was admitted to study Petroleum Engineering at the Petroleum Training Institute PTI between 1996 and 2001. He also studied Law at the Delta State University Abraka.

Izeze has used his office to influence the employment of Deltans into the Civil and Public Service of Delta State. He commands huge respect within and outside the students’ community. He formed the Comrade Community, which later metamorphosed into the Believers’ Council, an organization which stresses the need to advance the cause of students and education in Delta State.

In June 2015, when the 6th Assembly of the Delta State House of Assembly was inaugurated, he was elected the Majority Whip of the House and also Chairman, House Committee on Rules, Business, Legal and Judiciary Matters. His main driving force for gunning for a political office, he claimed, is to use public office for the development of his people. Married to Ruona, the couple is blessed with three kids.

B E L LO ’ S T U M U LT U O U S H O M E C O M I N G return. I vowed to keep the people of this state safe. I will do so. For those who have chosen a life of crime, especially violent crimes, I guarantee them it is the wrong choice.

“My Administration and the Security Outfits are designing unusual modalities to checkmate crimes and criminals across Kogi State. We are working hard and smart to make Kogi crime-free. I remind every robber, kidnapper and other criminal types as well as those who aid and abet them that there is no Statute of Limitation on crimes. Criminals are therefore advised in their own best interests to move out of Kogi State with all haste. We are coming for you, and rest assured, we will get you” he charged.

The governor, who quoted President Muhammadu Buhari, noted that the president was one man he considered a mentor and would follow without question as his dignity and honesty have become his aspiration.

“Today, I want to quote him extensively again, and while interchanging ‘Nigeria’ with ‘Kogi State’, I hereby adopt these words of his as

my own: I am a Nigerian and Nigeria is my country. I have no place else on earth to call home except Nigeria. If Nigeria fails, I fail. If Nigeria succeeds, I will be exalted among the nations. I must therefore do whatever it takes, beyond the limits of my natural abilities, to ensure this Nigeria does not fail. I will do my bit and ensure everyone else around me do theirs.

“I will not be an agent of division or subversion, because in so doing I hurt not only others but myself. I will support my government to enable them have the courage to always do what is right, and where I feel they are failing, I will make my voice heard, not to ridicule or abuse, but to proffer better alternatives “I believe that the labours of our heroes past shall never be in vain, and I also believe that the pains I feel today are sacrifices being made for Nigeria to rise again because only God anoints leaders and Nigeria is a blessed country...this is my stand, and may God give me the courage to always stand for what is right at all times. Amen.”

The governor noted that he needed his people to succeed in this sacred trust that God has committed into his hands as Governor of Kogi State.

“If we are not united, how can we expect Kogi State to be united under my leadership?

If every Ebira Person does what is right as a Nigerian and a Kogite, it will create a critical mass of right-acting citizens and influence others to start acting the same way. In time, our state will become a model for others to emulate “It is a great pleasure to be here today and to share this quality time with you. I have spoken my mind here because I cannot play politics with my own kindred. The incidents of the past in which deserving sons of Ebiraland lost in the field of contest to others because of clannish interests were painful and must never be repeated. I will promote the collective greatness of one indivisible Anebira over any clan or parochial interest. We are strongest together,” he promised.

He, therefore, saluted His Majesty, Alhaji Ado Ibrahim, Ohinoyi of Ebiraland and Vice

Chair of the Kogi State Council of Traditional Leaders, saying his hospitality has been nothing if not Royal.

The Ohinoyi of Ebiraland, earlier while receiving the governor in his palace had solicited the co-operation and support for the governor to enable him deliver the dividends of democracy to the people of the state.

The royal father, who emphasised the need for peaceful co-existence of the people irrespective of their tribes and religions pointed out that crises cannot in any way benefit the state.

“I am appealing to my people and indeed the entire people of the state to let peace prevail among ourselves. It is only in the atmosphere of peace that we can see and enjoy more dividends of democracy,” he said.

With this acceptability somewhat, the people of the state hope that the governor should be broad-minded and see Kogi State as his constituency, especially for the purpose of development, peace and unity. The only legacy he could leave behind is that Kogi is for everybody.

T H I S D AY • WEDNESDAY, APRIL 13, 2016

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PERSPECTIVE

MIDWEEKPOLITICS

Metuh during one of his appearances in court

How Metuh’s Case Became a Media Circus

Justice Okon Abang might have mismanaged the corruption trial of the PDP spokesperson, Chief Olisa Metuh, writesEnehVictor Chigozie

M

any Nigerians have followed the trial of the PDP National Publicity Secretary, Chief Olisa Metuh closely. Interestingly, the court trial has now been subjected to media trial. Justice Okon Abang seems to have allowed this high profile corruption case to assume a dimension, where his integrity in delivering a fair unbiased judgment is already being questioned.

Presently, Justice Abang is in the eyes of the public on how he intends to wriggle himself out of the accusation that he is either out to settle old scores with Metuh, being his old class mate at the Lagos Law School or he is under pressure from high quarters external from the judiciary to jail for reasons other than the charges brought against him by the EFCC. The curious thing here is that somehow, it was the learned Judge himself that started the entire brouhaha of externalising court procedures as related to the Metuh case and making them subject of media discourse.

I was indeed surprised reading on the pages of the newspapers the response of Justice Abang to the Chief Judge of Abuja Federal High Court over Metuh’s petition asking the CJ to transfer his case to another judge, when the petitions is still before the CJ. I recalled that Justice Abang had in the open court declared Metuh’s petition to the CJ and his response as public documents, open to the media and that the next day, the media went agog with his response. I then wondered how the

trial shifted from the court room to the newsroom. The question then is: what does Abang want to achieve by shifting the trial to the media? What actually is the interest of Justice Abang on this trial?

I am aware and it is on record that

Justice Okon Abang seems to have allowed this high profile corruption case to assume a dimension, where his integrity in delivering a fair unbiased judgment is already being questioned…Presently, Justice Abang is in the eyes of the public on how he intends to wriggle himself out of the accusation that he is either out to settle old scores with Metuh, being his old class mate at the Lagos Law School or he is under pressure from high quarters

whenever an accused, who is standing trial alleges bias over any jury, that the jury usually disqualifies herself from such case to save the integrity of the judiciary and the bench. Why is it that Justice Abang wants to try Metuh by all means despite the position of the defendant and the already simmering public debate regarding the ability of a judge that has already joined issues with the accused to deliver justice?

Even in village meetings, people object to inclusion of some perceived opponents or enemies from being included into committees to probe or investigate issues concerning them. Why is Metuh’s case different?

In the same high court, Abuja, Justice Ahmed Muhammad recently disqualified himself from the trial of Nnamdi Kanu, the leader of IPOB, and returned the case file to the Chief Judge to be re-assigned to another judge because Kanu raised an objection on the sincerity of the federal government to give him a fair trial. Justice Muhammad does not want to be seen as a tool in the hands of the federal government in the case, so he hands off the case.

Just last week, Justice Abdul Kafarati of the same Abuja Federal High Court disqualified himself from presiding over the corruption charges against the senate president, Bukola Saraki over a media report of compromise. So why is Justice Abang insisting on trying Metuh despite cries of bias from the defendant. Justice Abang is even insisting sitting as judge over a motion filed by the defendants asking him to disqualify himself on

account of ensuing public altercations between him and the defence.

Another curious issues is that Justice Abang in an open court, as well as in his response to Metuh’s petition denied knowing Chief Olisa Metuh even after one of their classmates at Law School, Lagos and a respected Prof. Chidi Odinkalu, the immediate past Chairman National Human Rights Commission, confirmed same in an interview.

“Abang surely knows that he and Olisa went to school together. We were all in the same law school set in 1988. We were all admitted to the Bar same day on November 3, 1988. Fashola, Anyim, Godswill Akpabio, Liyel Imoke, Nnia Nwodo all were in that set. I know Olisa and justice Abang have been together at more than two class reunions in Lagos, Uyo. Someone isn’t being totally candid.”

The above confirmation statement from Prof Chidi Odinkalu is enough for Justice Abang to stop wasting the time of the court and disqualify himself from the case. If he has scores to settle with Metuh, he can exploit other means, but not in this case unless he is under pressure from external forces to deal with the opposition spokesman.

His insistence on continuing this trial will indicate he has a special interest to jail Olisa Metuh for whatever reason best known to him. The best thing for him at this point is to save the judiciary and himself further embarrassment and disqualify himself from the case. If he does so, he will be hailed for showing high level sense of fairness and as a judge.

T H I S D AY WEDNESDAY APRIL 13, 2016

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T H I S D AY • WEDNESDAY, APRIL 13, 2016

FEATURES

Acting Features Editor Charles Ajunwa Email charles.ajunwa@thisdaylive.com

A Community in the Dark

In one riverine community in Lagos, the components of modern civilisation are yet to arrive, write Akinbami Omowale and Eduviere Godbless

Aerial view of Itun-Agan

O

ne of the global challenges the world still faces, today, is the issue of development.

Development is a light to lives, and lack of it has eaten so deep that disasters, which could easily have been averted, happen.

Most communities still languish in the dark for lack of basic communal needs which are yet undiscovered and Itun-Agan, a community in Lagos, is an epitome of such. An Island founded in the year 1905 by the late parents of Chief Lot Ikuesan, the Baale of the community, Itun-Agan, is a small community under the Amuwo-Odofin Local Government Area of Lagos State.

The journey to Itun-Agan, for these reporters, was a bitter experience as one could easily see from a distance all the emptiness clouding it. The people, whose chief occupations are fishing, carpentry, boat sailing and civil service employment, were so beautiful and welcoming, but this was a community which does not have access to electricity from the power grid, save the power gotten from generators.

“I can’t wait to behold it,” an octogenarian traditional leader and one of the oldest people in the community, Chief Lot Ikuesan, told THISDAY. “We have so many problems and we plead for the government to come to our aid. We don’t have access to good water, a primary healthcare centre, a town hall, a jetty or even good structures and furniture for the schools in our community.”

The lack of development and basic

social infrastructure in this community is so heart-touching that even words alone fail to provide a complete expression.

In the past, people used to sail down to other communities for education, until a primary and secondary school was built

One of the global challenges the world still faces, today, is the issue of development.

Development is a light to lives, and lack of it has eaten so deep that disasters, which could easily have been averted, happen. Most communities still languish in the dark for lack of basic communal needs which are yet undiscovered and ItunAgan, a community in Lagos, is an epitome of such

in the community by Comrade Ayodele Adebowale Adewale, a former executive chairman of the Amuwo-Odofin Local Government Area of Lagos State. The primary school, which was commissioned on October 24, 2014, however, still lacks good furniture and well trained teachers. This is the same for the Itun-Agan Secondary School.

In an interview conducted with THISDAY, the French teacher of the secondary school, Mr. Larry Winifred, noted that “the primary school that has a good structure, but no good furniture in the classrooms; while the secondary school lacks good structures and furniture.”

Speaking of his job, Mr. Larry said he doesn’t get paid for what he is doing in the community. “My work here is voluntary,” he said, “I see a great future in them and, whatever I do, it is for the interest of my people.”

The issue of water is equally another alarming highlight in the community, as there are only three boreholes and few water wells, which serve the entire area.

The three bore-holes, which are no longer functioning, have now been forgotten and abandoned for eons, due to lack of support and maintenance.

The largest development the community has ever had since its creation is the Globacom mast, which was built by Mike Adenuga early last year.

“Thank God for that man, if it wasn’t for him, we wouldn’t have been able to

be communicating with our people in far places”, Chief Ikuesan said.

In an interview with THISDAY, with one of the youths of the community, Mr. Bode Joseph, he said “it pricks me to see that our community languish in the dark and it hurts to know that we lack so many good things’’.

Another issue devastating minds of the people of Itun-agan is the lack of a town-hall and health care centre. The health centre is especially crucial, as lots of bitter tears results from mortality.

And since there is no physical health centre, there are few professional health workers around, leaving the health of the community in a very vulnerable position.

“When there’s an emergency, we either board a boat to take the patient to town for proper medical treatment or patronise our traditional doctors to handle the case,” Chief Ikuesan said.

One of the nurses, Mrs. Omole Maria, told THISDAY: “People here, especially the pregnant women, don’t go for ante-natal, which is very dangerous and leads to high mortality rate at child birth.”

Furthermore, Mrs. Maria unveils how the harsh economy of the country has affected the people of Itun-agan community, so much that they can no longer afford to patronise them or even hospitals for proper treatments.

“One cannot really respond at once when emergency for proper medical attention is required and this has claimed so many lives

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T H I S D AY • WEDNESDAY, APRIL 13, 2016

FEATURES

A typical water front in Itun-Agan

The filty environment in Itun-Agan

We have so many problems and we plead for the government to come to our aid. We don’t have access to good water, a primary healthcare centre, a town hall, a jetty or even good structures and furniture for the schools in our community

An abandoned water project in the community

because of lack of health centre,” she said.

Furthermore, security is a long cry for the people of Itun-Agan community, as they lack police station. Where there’s no coordination by military, jungle justice becomes a solution for fighting crime.

Meanwhile, the community is renowned for its fishing business, which is the major

Fish sellers

occupation and primary source of livelihood for its inhabitants.

Mrs. Adebisi Taju, a 40-year-old crayfish supplier, told THISDAY that she was born into it. She expressed her grief on the increment of the price of fuel and how it has drastically affected the business. “This business is seasonal and the increase in fuel

price has really affected us especially in the aspect of transportation of our goods to other places for sales,” she said.

Water, the only means of transportation to the island gets tougher by the day.

Speaking of transportation, Mr. Idowu Ade, a wood seller, said the increment of fuel has also affected his business so

much that he can hardly transport his materials for sales.

A boat builder in the community, Oluwasegun Omotayo, whose hands are employed to build boats mostly during the crayfish season, noted that if a jetty, electricity, water and good structures are provided, life in Itun-Agan would be better.

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IMAGES

Sokoto State Governor Aminu Waziri Tambuwal (3rd left) inspeting farm machinery at the Henan Haofeng Machinery Manufacturing Company in Henan Province, China...recently

L-R: MD/CEO, Africa and Middle East, Olam International, Venkataramani Srivathsan; elder statesman and former Chairman, Transition Committee, Alhaji Ahmed Joda; Governor of Kaduna State, Malam Nasir Ahmad el-Rufai; Head, Corporate and Government Relations, Olam Nigeria, Ade Adefeko; and Vice-President, Olam Nigeria, Reji George, at the groundbreaking ceremony of Nigeria’s N20 billion integrated animal feed mill, poultry breeding farms and hatchery at Chikpiri Gabas Village Chikun LGA, in Kaduna State...recently

T H I S D AY • WEDNESDAY, APRIL 13, 2016

Photo Editor Abiodun Ajala Email abiodun.ajala@thisdaylive.com

L-R: Lagos State Commissioner for Information and Strategy, Mr. Steve Ayorinde; Vanguard publisher, Chief Sam Amuka Pemu; and Permanent Secretary, Ministry of Information and Strategy, Mr. Fola Adeyemi, during the visit of the Publisher of Vanguard to the ministry, at Alausa, Ikeja...recently

Director General, Debt Management Office, Dr. Abraham Nwankwo (left), and President, Nigeria Union of Journalists, Mr. Waheed Odusile, at a one-day DMO workshop on Debt Sustainability and the Challenge of Financing Economic Recovery in Abuja...recently

L-R: Minister of Communications, Mr. Adebayo Shittu; President, Association of Telecoms Companies of Nigeria (ATCON), Mrr. Lanre Ajayi; and Managing Director & Chief Executive Officer, Airtel Nigeria, Mr. Segun Ogunsanya, at the special reception held for the minister in Lagos...recently

L-R: Ekiti State Governor, Mr. Ayodele Fayose; former Governor of Ogun State, Chief Gbenga Daniel; and the Chairman, Daar Communications, Chief Raymond Dokpesi, during a red carpet dinner to mark the 60th birthday anniversary of Daniel, at Lekki, Lagos...recently

L-R: Former National President, Academic Staff Union of Universities (ASUU), Dr. Dipo Fashina; National President ASUU, Nasir Isa; Vice-President, Prof. Biodun Ogunyemi; and a member of ASUU executive, Prof.

Asis Asobra, during a press conference by ASUU on the state of the nation in Abuja...recently enock reuben

T H I S D AY • WEDNESDAY, APRIL 13, 2016

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BUSINESSWORLD NIBOR PRIME 1-MONTH

R A T E S LOAN

4.4583% 9.1071%

3-MONTH 3-MONTH

A S

11.0102% 12.3790%

A T

NITTY 1-MONTH 2-MONTH 3-MONTH

Group Business Editor Chika Amanze-Nwachuku Email chika.amanzenwachukwu@thisdaylive.com 08033294157

A P R I L 6.9949% 7.2368% 8.0819%

1-MONTH 9-MONTH 12-MONTH

2 , 9.2061% 9.5872% 10.5042%

2 0 1 6

EXCHANGE RATE N197/1US DOLLAR* *AS AT LAST FRIDAY

Quick Takes FRC CEO Wins Award

EXPANSION DRIVE

L-R: Group Head, Retail, Royal Exchange Plc., Nelson Akerele; Managing Director, Royal Exchange, Finance and Asset Management Ltd, Abiola Sanni; Managing Director, Royal Exchange Microfinance Bank Limited, Elizabeth Elghoche; and Acting Group Managing Director, Royal Exchange Plc., Alhaji Auwalu Muktari, during the inauguration of Royal Exchange Microfinance Bank branch in Ikotun, Lagos... recently abiodun ajala

Buhari Urged to Align Fiscal, Monetary Policies Obinna Chima President Muhmmadu Buhari has been advised to ensure that his administration aligns both monetary and fiscal policies in order to attract the much desired foreign direct investments (FDIs).

The Chief Executive Officer of Afrinvest West Africa Limited, Mr. Ike Chioke, who gave this advice in an interview with THISDAY, pointed out that there has been a decline in consumer confidence in the economy.

He argued that notwithstanding the massive drop in its income, the federal government

ECONOMY has not adjusted its expenditure pattern.

“When you talk about government revenue, oil is the key input. There is a declining consumer confidence and it trickles down the system. But I feel government hasn’t done enough in cost-cutting,”Chioke said.

While noting that devaluation is important, the Afrinvest boss pointed out that it “is actually not the full answer.”

With the backing of the president, the Central Bank of Nigeria (CBN) has rejected

calls to devalue the naira despite a plunge in oil prices that has slashed revenue in Africa’s biggest crude producer. The bank has instead effectively banned imports of some goods and restricted foreign currency supply, pegging the naira at N197 to N199 per dollar in the past year. That however has not stopped the black-market rate from soaring to about N320 against the dollar, adding to costs in the economy as businesses turn to the parallel market to access foreign currency.

But in reaction to this, Chioke said: “If I start from the point of

view that my foreign exchange income has declined by 60 per cent, if I used to give out $1 billion in auction every week, now I only have $300 million or $400 million available, how do I allocate?

“So, the CBN is right in saying there are certain items that we shouldn’t be importing.

But that actually is not the job of the CBN. The CBN should be focused on monetary. The fiscal authorities ought to design its policies by targeting growth enhancement in certain sectors.

Government needs to get its Continued on page 24

Investors Trade N22.5tn Securities on FMDQ OTC in Three Months Goddy Egene The FMDQ OTC Securities Exchange recorded transactions worth N22.5 trillion in the first quarter of 2016. The FMDQ OTC Securities Exchange was licensed by the Securities and Exchange Commission (SEC) in 2013 as an over-the-counter (OTC) securities exchange and self-regulatory organisation to run the fixed income trading platform and organise the market to international standards.

According to data obtained

by THISDAY, investors staked a total of N22.5 trillion on securities in the market in the first three months of 2016. About N13.92 trillion was invested in January and February, while N8.58 trillion was invested in

CAPITAL MARKET March. The performance in March showed an increase of 30.7 per cent or N2.02 trillion compared to the previous month’s value.

An analysis of the transactions showed that activities in the foreign exchange (forex) market accounted for 18.67 per cent of the turnover in March, down 5.22 percentage points from the value recorded in February whilst transactions in Treasury Bills (T. bills) increased by 1.99 percentage points to account for 37.66 per cent of the total turnover.

Secured market (Repurchase Agreements / Buy-Backs) and FGN2 Bonds accounted for 30.74 per cent and 10.49 per cent

respectively, just as activities in Unsecured Placements/ Takings contributed 2.40 per cent to the total turnover Transactions in the forex market settled at $6.56 billion, the same level as recorded in the month of February. On a year-on-year (YoY) basis, FX transactions recorded a decline of $2.66bn (28.88 per cent). Member-Member trades recorded a decline of $23.86mm (28.74 per cent) as activities nose-dived across all sub-categories. Turnover in the Member-Client category, stood at $5.96 billion, marginally offsetting the decline recorded in the Member-Member Category for the period. On aggregate, spot transactions increased $206.65 million (4.07 per cent) while

Swaps transactions declined $220.62 million (14.95 per cent) to settle at $5.08 billion and $1.48billion respectively.

Turnover in the fixed income market settled at N4.13 trillion, showing N974.69 billion (30.87 per cent) above the value recorded in the previous month.

Transactions in the T.bills market accounted for 78.21 per cent of the turnover, up 4.03 percentage points from last month’s value.

Outstanding T.bills stood at N5.41 trillion, N118.87 billion (2.25 per cent) above the value as at February while outstanding FGN bonds settled at N6.24 trillion, N125.00bn (2.05 per cent) higher than previous month’s value.

Continued on page 24

The Executive Secretary/Chief Executive Officer (CEO) of the Financial Reporting Council of Nigeria (FRC), Mr.. Jim Obazee, has emerged ‘African Best Rated Leadership Personality’ of the year in the public sector category.

In a statement by the Media/Communications Consultant to FRC, Mr. Mack Ogbamosa, the award was bestowed on him by the African Development Magazine (ADM) in appreciation of his remarkable contributions to leadership/financial sector in Africa at a ceremony held in Accra, Ghana recently.

Conferring the award on the FRC CEO at the 5th ADM International conference and award, the Publisher of the Magazine, Mr. Ayo Ilesanmi described the award as a mark of recognition of the roles the awardee has been playing as the CEO of FRC in sanitising the nation’s financial sector through formulation and enforcement of financial standards.

Speaking on the award, Obazee dedicated it to the members of staff of FRC, declaring that the award was in recognition of the crucial roles the Council’s staff have been playing in ensuring that players in the economy play in accordance with the rules.

He said the impact of FRC enforcement of accounting, auditing, actuarial and valuation standards are already being felt in this era of adherence to rules, regulations and standards as the hallmark of the ‘Change Administration’ led by President Muhammodu Buhari.

Established under the Financial Reporting Act No 6 of 2011, the FRC is charged with regulating accounting, auditing, actuarial and valuation standards as well as issue and maintain codes of corporate governance to ensure transparency and accountability in both public and private sectors of the country’s economy.

CMC Meeting Holds Today

The Securities and Exchange Commission (SEC) is ready to host the First Quarter 2016 Capital Market Committee (CMC) meeting scheduled to hold in Lagos today. According to a statement from top on the agenda for the meeting would be recent initiatives of the Commission as well as updates on the Capital Market Master Plan Implementation.

CMC was mainly established to serve as a medium for exchange of ideas among market stakeholders as well as for feedback to SEC on how to continuously improve the market activities and regulation.

It is an industry-wide committee comprising members of the Commission, representatives of capital market operators and trade groups and other stakeholders. The CMC meets every quarter to deliberate on various issues affecting the market and other policy matters.

Those invited to attend the meeting are: chief executive officers (CEOs) of all registered capital market firms and trade/ professional groups; CEOs of all registered trading platforms and exchanges; and representative observers of government agencies and other stakeholders. The Chairmen of the Senate and House Committees on Capital Market are also expected to attend the meeting.

Police Endorses Binggo Dog Food

The Nigerian Police has officially adopted Binggo dog food to further avoid spending huge sum of money on importation of dogs and its food.

The Marketing Manager Grand Cereal, Tope Banjo disclosed that Binggo dog food provides quality nutrition for dogs making them smart, healthy and active, stating that Binggo dog food is also fresh because it is locally produced as against foreign dog food brands which spend weeks on the sea before reaching Nigeria, thereby, losing its freshness and taste.

He said: “Binggo Dog Food comes in Chicken flavour and packed in 15kg adult and 5kg puppy bags. Binggo Dog Food is produced

by Grand Cereals Ltd., leading producer of animal and edible feeds brand like Vital Fish Feed, Vital Poultry Feed and Grand Pure Soya Oil. Grand Cereals Ltd., a subsidiary of UAC of Nigeria Plc., began production of Binggo Dog Food in 2015.”

In the past, we had the means but not the will. Now we have the will but we no longer have the money to invest

Minister of Finance Mrs. Kemi Adeosun

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T H I S D AY • WEDNESDAY, APRIL 13, 2016

BUSINESSWORLD BUHARI URGED TO ALIGN FISCAL, MONETARY POLICIES act together.”

He stressed the need for the federal government to direct its fiscal policies to support critical sectos in the economy.

This, according to him, would help guard the central bank in forex allocation.

“I feel like the CBN’s hands are tied in this (devaluation) matter because you have all manner of people above them that have said things that they were not best disposed in saying about where best the forex market should be doing.

“That has further dampened investor confidence. So, the president can visit all the foreign countries he wants, but when he comes back and fails to sort out the misalignment between monetary and fiscal policies, same foreign investors he is expecting to come will still be there waiting for him,” Chioke said.

He criticised the structure of the 2016 appropriation bill which has remained a subject of controversy.

“We have done a budget that is N6 trillion, with a deficit of over N2 trillion and a debt service of nearly N1.5 trillion.

Why do you want to go to such an extreme level? I do a budget of N6 trillion, and I am going to borrow N2 trillion and out of the borrowing of N2 trillion, I will service debt of about N1.5 trillion! It doesn’t make sense!

INVESTORS TRADE N22.5TN SECURITIES ON FMDQ OTC IN THREE MONTHS Chairman of FMDQ OTC Securities Exchange, Dr. Sarah Alade last Friday restated the exchange’s commitment to develop and make the debt securities market globally competitive by improving liquidity, transparency, governance and efficiency in 2016.

Alade, who spoke at the fourth annual general meeting(AGM) of company in Lagos, noted that 2015 was been a busy year for the exchange as it worked hard to position itself as Nigeria’s foremost debt capital market securities exchange.

NEWS

Stanbic IBTC to Partner Kaduna, Others on Economic Transformation Eromosele Abiodun Stanbic IBTC Plc has expressed its readiness to partner the Kaduna State government, and other state governments, to ensure that their transformation agenda was realised and the benefits of democratic governance felt by the people.

The Chief Executive, Stanbic IBTC Holdings Plc, Sola David-Borha, made the promise in a goodwill message she delivered at the inaugural annual Kaduna State Economic and Investment Summit, cosponsored by the bank.

The Kaduna State Economic and Investment Summit, with the theme “Let’s Move Kaduna into the Global Economy”, was conceived by the state government to engage the private sector and fashion out a sustainable strategy for public private partnership that will help bring to fruition the developmental aspirations of the state.

In a presentation, the state governor, Mallam Nasir el-Rufai, had outlined the government’s economic agenda and vision as well as its development plans.

David-Borha said as a member of the over 150-year Standard Bank Group, Stanbic IBTC has a rich pedigree to tap into to deliver timely and sustainable results across the spectrum of financial services in the key focus sectors as outlined by the Kaduna State Governor, Mallam Nasir

el-Rufai, in his opening presentation.

“We believe that our role as financial partners is to ensure the realisation of the vision that the state government has articulated. We have already begun partnership with Kaduna State in the area of small and medium scale enterprises and we would like to finance some

of their agricultural projects,” David-Borha stated.

She said as an end-to-end financial institution, with experience and expertise in personal, business and corporate banking, as well as wealth creation, Stanbic IBTC is ready to tap into opportunities in Kaduna State and across the country to finance developmental

projects in Mining, Agriculture, Education, SMEs and other key sectors that will help boost government’s employment generation drive and eventually raise the standard of living of the populace.

“As an institution, we have a strong pedigree in mining. Across Africa, we have provided financing in mining and we believe we

can do same in Kaduna State,” David-Borha stated, adding, “In terms of wealth creation, we believe we can partner with the state government in increasing the wealth of the people in terms of managing their pensions and also by providing educational trusts for residents in Kaduna to enable them provide for the education of their children.”

WORTHY RECOGNITION

L-R: President, Lagos Chambers of Commerce and Industry, Chief (Mrs.) Nike Akande;, Governor of Ogun State, Senator Ibikunle Amosun; his wife, Olufunso Amosun, and Group Managing Director/CEO First City Monument Bank Limited, Mr. Ladi Balogun, at Vanguard Personality of the Year Awards in Lagos…recently.

Continental Re Announces N2.92bn Profit in 2015 Ebere Nwoji Continental Reinsurance Plc’s has said that its profit before tax rose by 83.61 per cent to N2.92billion in 2015, from N1.59billion in 2014 in 2015 financial period.

The firm’s gross premium income also grew by 22.19 per cent, from N16.9billion in 2014 to N19.7bn in 2015.

The continental Re Group, given its performance, turned in a year of a strong underwriting performance and overall profitability.

The Group Managing Director / Chief Executive Officer, of the company, Dr. Femi Oyetunji, said that in 2015, Continental

Reinsurance showed resilience in an unfavourable environment leading to maintenance of its track record of profitability in both underwriting and investment activities.

He said: “We were able to attain our performance targets.

Strategically, our pan-African geographic diversity helped us to absorb the shocks emanating from the array of challenges that confronted us from the external environment such as ‘tanking’ commodity prices, currency volatility and mounting competition.”

He said the company’s geographic expansion and broad product line mix gives it a diversified portfolio that has

progressively positioned it to straddle local and regional market cycles and that its consistent positive underwriting results reflects effective countering of concentration risk and shortterm market uncertainties.

Oyetunji also said the good underwriting performance in 2015 can also be attributed to a benign claims experience.

Continental Re’s profit after tax rose by 150 per cent to N2.14billion in 2015 from N856million in 2014, while its investment and other income rose by 31.7 per cent to N1.88billion in 2015, from N1.43billion in 2014.

Its total asset rose by 5.18 per cent to N29.67billion in

2015 from N28.21billion, while shareholders’ fund rose by 5.15 per cent to N15.54billion from N14.78billion in the period under review.

Continental Reinsurance currently operates from six strategic locations across the continent through a combination of regional and subsidiary offices including Tunis, Gaborone, Nairobi and Douala.

According to him, in 2015, the Lagos business constituted 54 per cent of the total non-life business down from 60 per cent in 2014 reflecting ongoing success in the strategy to de-risk the business by pursuing growth in new territories thereby reducing concentration in the Nigerian

market.

He said: “Although the continent’s gross domestic product growth is expected to be a modest 3.4 per cent in 2016, insurance premium growth should continue to out-pace overall economic expansion. Our pan-African footprint, local market approach and multinational talent repository means that we are well positioned to ride this upside.

This bolsters our confidence in our optimism that we will continue to deliver top line and bottom line growth on a sustained basis into the future for our shareholders and other stakeholders, the Continental Re boss said.”

Group Business Editor

Chika Amanze-Nwachuku Maritime Editor

John Iwori

FirstBank Completes Integration of African Subsidiaries

AgriBusiness/Industry Editor

Crusoe Osagie

Comms/e-Business Editor

Emma Okonji

Capital Market Editor

Goddy Egene

Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

Chinedu Eze (Aviation) Linda Eroke (Labour) Eromosele Abiodun (Cap Mkt) Ejiofor Alike (Energy) James Emejo (Nation’s Capital) Obinna Chima (Money Mkt) Reporters

Nume Ekeghe (Money Market) Nosa Alekhuogie (AgricBusiness)

Nume Ekeghe FirstBank of Nigeria Limited has announced the completion integration of its subsidiaries in six African countries.

A statement from the bank explained that the move was in line with its strategy to become the leading sub-Sahara African financial services group in Africa.

FirstBank has its footprints in the United Kingdom and France through its subsidiary, FBN Bank (UK) Limited with branches in London and Paris; and in Johannesburg, Beijing and Abu

Dhabi with its Representative Offices there.

In October 2011, the bank acquired a new subsidiary, Banque International de Credit (BIC), one of the leading banks in the Democratic Republic of Congo. In November 2013, FirstBank acquired ICB in The Gambia, Sierra-Leone, Ghana and Guinea, and in 2014, the Bank acquired ICB in Senegal.

Speaking on this development, the Group Managing Director/Chief Executive Officer of FirstBank, Dr. Adesola Adeduntan, said: “FirstBank’s expansion into the Sub-Saharan

Africa Markets clearly aligns with our strategic ambition to steadily broaden and build a more diverse footprint across Africa. We are committed to developing a multi-local business model that broadens our geographic revenue base while providing bespoke financial services solutions across the value chains of our customers with cross-border financing needs.”

FirstBank is a well-diversified financial services group and maintains the leading position in many of the markets in which it operates with a market leading distribution capability and a

well-recognised brand with a large customer base.

With over 800 business locations in Nigeria, all on-line and real time, the bank has one of the largest domestic sales networks in the country. As a market leader in the financial services sector, FirstBank pioneered initiatives in international money transfer and electronic banking in the country, serving more than 10 million customer accounts.

“The bank’s strategy has been focused on restructuring the business to take advantage of growth opportunities within

the industry, pursuing business line expansion across strategic business units, continuously implementing a systematic international expansion plan, sequencing its growth initiatives across defined metrics, as well as building synergies and cross-selling across the FirstBank Group.

“This strategy supports the bank’s vision of being the leading sub-Sahara African financial services group. Continued implementation of this strategy will produce long-term profitable growth as well as build great franchises.”

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T H I S D AY • WEDNESDAY, APRIL 13, 2016

BUSINESSWORLD

EQUITIES WATCH

Fidelity Bank Beats Expectations Unlike its peers, Fidelity Bank outperformed market expectations, writes Goddy Egene The performance of Fidelity Bank Plc for the year ended December 31, 2015 came to many capital market stakeholders as a surprise. The bank performed above the expectations of many.

Although the bank recorded a marginal growth in profit after tax (PAT), it was a better result compared to profit warning that was announced by some its peers.

2015 results According to the audited results of the bank, gross earnings grew from N136.9 billion to in 2014 to N146.9 billion in 2015. Profit before tax (PBT) declined by 9.6 per cent to N14.0 billion from N15.5 billion in 2014, while PAT settled at N13.9 billion compared with N13.8 billion the previous year. Hence, the directors recommended a dividend of N4.6 billion, thus maintaining a tradition of consistent dividend pay-out for the past six years.

Total equity increased by 6.0 per cent to N183.5 billion from N173.1 billion in 2014 full year, net operating income stood at N83.9 billion, a moderate 12.5 per cent rise from N74.6 billion in 2014 full year, growing the major income lines across the quarters.

A further analysis of the bank’s performance showed its fourth quarter was particularly impressive particularly in terms of income generation, which accounted for 27.4 per cent of the gross earnings for the full year. The bank’s gross earnings grew to N146 billion on the back of 16.2 per cent stronger performance recorded in interest income for the year. Interest income grew by from N104.3 billion to N121 billion.

Fidelity Bank recorded significant jump in interest income in the last quarter of 2015 due to its aggressiveness in growing loans and advances, which rose from N610 billion to N658 billion in 2014. Interest expense grew at a slower pace to interest income by 8.7 per cent due to 6.7 per cent moderation in total deposits, that fell from N820 billion to N769 billion. Consequently, interest margin improved from 5.4 per cent to 6.1 per cent.

MD explains performance Commenting on the performance, Chief Executive Officer, Fidelity Bank Plc, Nnamdi Okonkwo said that it reflected the disciplined execution of the management’s medium term strategy and the resilience of evolving business models despite the extremely challenging business environment in 2015. He explained that the bank improved the earning capacity of its balance sheet even in the face of decline in fee income precipitated by a N10.0 billion reduction in its foreign exchange income.

“We continued to increase yields on earning assets faster than the growth in funding costs which improved our Net Interest Margin (NIM) to 6.9 per cent in 2015. In spite of the strong double digit growth of 12.5 per cent in net operating income, PBT declined by 9.6 per cent largely due to two critical factors: the 17.1 per cent increase in total expenses due to strategic investments and cost incurred in 2015 to position the business for further growth in line with our aspirations. The increase in impairments due to a more prudent approach adopted with respect to a special regulatory provision which was charged directly to the Profit and Loss (P&L) was responsible for the decline in profit,”Okonkwo said.

He said PBT declined by 9.6 per cent largely due to two critical factors, which are the 17.1 per cent increase in total expenses due to strategic investments and cost incurred in 2015 to position the business for further growth in line with our aspirations. “The increase in impairments due to a more prudent approach adopted with respect to a special regulatory provision which was charged directly to the Profit and Loss (P&L) was also responsible for the decline.”

Okonkwo explained that the decline was due to the implementation of the Treasury Single Account (TSA), adding that the disciplined execution of the bank’s retail strategy continued to deliver strong results as savings deposits grew by 22 per cent.

“Our non-performing loan (NPL) ratio remained constant at 4.4 per cent while our regulatory ratios remained well above the set thresholds, our capital adequacy ratio at 19 per cent gives

banking sector, given cumulative loan exposure to the sector of N200 billion to N250 billion. As a result, banks were directed to take additional general provisions (five per cent of exposure) through equity, while watch-listing the loan under CBN prudential standards.

According to management, its N22.4 billion (four per cent of the loan book) exposure to Oando is still performing. However, a conservative decision was made to charge the required N1.1 billion general provision to its P&L in 4Q15 given the loan weight. “Material discussions between banks are under way with respect to meeting a CBN deadline on how proceeds arising from the divestment of Oando’s downstream operations will be used to offset loans among other restructuring terms. Even with the N1.1 billion provision made, Fidelity’s FY15 CoR came in at 1.0 per cent,” Rencap said.

Okonkwo

us ample leverage to take advantage of emerging business opportunities”, Okonkwo he said.

Looking forward, the CEO said the bank would focus on redesigning its systems and processes to enhance service delivery, disclosing plans to embark on cost optimisation initiatives aimed at reducing expenses by five per cent.

“The bank will also adopt proactive risk management strategies, increase customer adoption/ migration to its digital platforms and grow its retail banking market share,” he assured.

The board of directors of the Bank said it is offering investors 16 kobo per share dividend for the period ended December 31, 2015. The Bank says the 16 kobo dividend is payable to shareholders whose names appear on the Bank’s register as at the close of business on April 18 to April 22, 2016, while the annual general meeting

(AGM) and payment date is May 5, 2016. The lender said the 16 kobo per ordinary share of 50 kobo each amounts to N4.6 billion and this is subject to Withholding Tax at the appropriate tax rate, which will be deducted before payment.

Analysts’ Assessment Assessing the performance of the bank, analysts at Renaissance Capital said Fidelity’s numbers have shown significant resilience vs its tier two peers, most of which have announced profit warnings for 2015.

N22.4bn Oando exposure watch-listed Fidelity said that following the significant losses declared by Oando Plc in 2015, the CBN has been concerned about implications for the

Cost reduction targeted Costs were up 17 per cent in FY15 mainly due to regulatory costs and increased spend on marketing, communication and entertainment.

“Fidelity is guiding for a five cost decline as management does not expect one-off litigation and corporate finance costs to reoccur in FY16.

We factor this in while noting that delivery on this will be the key to offsetting anticipated revenue growth and asset quality pressure in 2016, the analysts said.

Upgrade Rating RenCap noted that while asset quality trends were impressive in 2015, they still have their concerns and maintain our CoR estimate at 1.7 per cent versus management’s 1.0 per cent guidance.

“Power and upstream oil and gas loans are management’s key asset quality concerns, and about 75 per cent of the upstream oil and gas book to four names is currently being restructured, with a breakeven price of $35/bl and tenor extensions of 12-24 months. Significant asset quality deterioration in these sectors, present a key risk to our numbers. On our revised estimates, the stock is trading at 0.2x FY16E P/B and we are modelling for seven per cent RoE in FY16E. We raise our target price to N1.24 and upgrade to HOLD from Sell,” they said.

FIDELITY BANK PLC FULL YEAR FINANCIAL SUMMARY 150 145 140

DEC, 2015 N146.9bn DEC, 2014 N136.1bn

135 130

DEC, 2015 N121.2bn

125 120 115 110

DEC, 2014 N104.3bn

105 100 95 90 85 80 75 70

DEC, 2015 N60.3bn

65

DEC, 2014 N55.5bn

60 55 50 45 40 35 30 25 20

DEC, 2015 N14bn

05

DEC, 2014 N15.5bn

15

DEC, 2015 N13.9bn

DEC, 2014 N13.8bn

10

GROSS EARNINGS

INTEREST INCOME

OPERATING EXPENSES

PROFIT BEFORE TAX

PROFIT AFTER TAX

26

T H I S D AY • WEDNESDAY, APRIL 13, 2016

BUSINESSWORLD

ANALYSIS

Stock Market Remained Under Pressure in Q1 Foreign exchange restrictions, persistent energy crises and policy uncertainty all contributed to the economic contraction and pressure in the stock market in the first quarter of the year, writes Goddy Egene The Nigerian stock market has suffered decline in the past two years, 2014 and 2015. While the market declined by 16.1 per cent in 2014, it went down by 17. 4 per cent in 2015. The negative performance led to a massive depression in prices of stocks that offer attractive entry opportunity to investors.

Despite the opportunity, many investors shunned the market due to the prevailing economic situation. As a result, the market depressed further in the first quarter (Q1) of 2016. Specifically, the Nigerian Stock Exchange (NSE) All-Share Index (ASI) fell by 10.9 per cent in Q1 falling from 28,335.01 to 25,306.22. Similarly, the market capitalisation shed N1.1 trillion, falling from N9.8 trillion to N8.7 trillion.

However, the decline in the Q1 did not come to many stakeholders and investors as a surprise given the state of the general economy. A blurry fiscal direction, declining oil prices, policy reversal by the Central Bank of Nigeria (CBN), foreign exchange restriction, all contributed to keep many investors watching the market without investing.

Early Optimism Early in the year, the Chief Executive Officer of the NSE, Mr. Oscar Onyema had expressed optimism that with greater clarity on policy direction, they anticipated the return of investors who had remained on the sidelines throughout 2015.

“This return is predicated upon return of investor confidence as a result of: effective implementation and communication of the government’s economic blueprint; credibility in monetary policy stance; relative stability in the macro economy (oil price stability above benchmark targets, increase in tax collection to gross domestic product among others) and improved security,” he said.

Speaking on the focus of the NSE in 2016, Onyema said the exchange would focus on executing its strategy in order to continue to provide a credible platform for financing the economy.

“To this end, we intend to intensify engagement efforts with the federal government. We have also prioritised three initiatives for 2016 aimed at achieving the exchange’s three strategic objectives of increasing the number of new listings

The market was affected by the adverse economic climate characterised by declining oil prices, rising inflation, declining capacity utilisation and job losses in the manufacturing sector, uncertainties around devaluation of the naira and the delays to the 2016 budget.

These have led to weak corporate earnings by listed companies which, in turn, translated to declining stock prices and market capitalisation

ANALYSIS OF TRANSACTIONS ON NSE JANUARY AND FEBRUARY 2016 January 2016

February 2016

FOREIGN INVESTORS FOREIGN INVESTORS

51.57%

DOMESTIC INVESTORS

48.43%

36.48%

DOMESTIC INVESTORS

74.49%

across five asset classes, increasing order flow in the five asset classes operating a fair and orderly market based on just and equitable principles,” Onyema said.

The NSE CEO said the current state of the market creates both challenges and opportunities for investors.

“We believe that taking a portfolio approach to investing provides the best risk adjusted alternative for participating in the capital market. As such, we want to ensure that the NSE provides a repertoire of products that will allow investors to create well diversified portfolios of uncorrelated asset classes,” he said.

The expectations of the NSE were not met in the Q1 as the market remained under pressure of weak demand for stocks from both domestic and foreign investors and poor corporate earnings for 2015 financial year.

Drop in Foreign Domestic Participation The forex restriction and exchange rate volatility affected the participation of foreign investors in the market Q1. For instance, equities transactions figures released by the NSE for the month of January and February in 2016 showed that foreign portfolio investors (FPI) decreased. While total transactions on the bourse increased from N84.10 billion in N117.27 billion, FPI fell 51.57 per cent to 36.48 per cent of the transactions.

Besides, monthly foreign outflows outpaced inflows, which were consistent with the same period in 2015. Foreign outflows increased by 20.79 per cent from N26.36 billion in January 2016 to N31.84 billion while foreign inflows decreased by 35.68 per cent from N17.01 billion in January 2016 to N10.94 billion in February 2016.

While the total domestic transaction increased by 82.89 per cent from January to February 2016, retail investors were reducing.

The institutional investors composition of the domestic market increased by 75.05 per cent from N21.85 billion in January to N38.25 billion in February while the retail composition increased by 91.95 per cent from N18.88 billion in January to N36.24

billion in February 2016.

In all, retail investors still account for 47 per cent, while institutional investors account for 53 per cent. Out of the N115.22 billion domestic transactions, institutional investors account for N60.10 billion, while N55.12 billion.

Profit warnings The Q1 performance was also affected by negative sentiments brought by profit warnings by some companies, led by the banks. Five banks including FCMB Group, FBN Holdings Plc, Diamond Bank Plc, Ecobank Transnational Incorporated and Skye Bank Plc sent profit warnings. Also Courtville Business Solutions Plc, Computer Warehouse Group Plc dampened investors’ enthusiasm with poor results.

Investors’ reactions to the profit warnings by banks led to the sector recording the highest decline in Q1. The NSE Banking Index went down by 19.25 per cent in the quarter in March 2016 and recorded highest sectoral decline of 19.25 per cent in Q1 of 2016. The shares of the five banks suffered significant decline during the review period.

For instance, the shares of Diamond Bank dipped 47.8 per cent while FCMB went down by 47.4 per cent. Skye Bank lost 42.4 per cent of its value, while FBN Holdings closed the quarter 36 per cent lower. ETI shed 9.5 per cent.

SEC Woos Investors Discovering that one of the reasons investors had stayed away from the market was frustration in having access to their dividends, the Securities and Exchange Commission (SEC) introduced the electronic dividend platform. Although the e-dividend was launched late last year, the commission embarked on public awareness campaign in the first quarter of the 2016. The campaign took the commission to Abuja, Kano and Lagos.

According to the Director General of SEC, Mounir Gwarzo, e-dividend platform will enable investors have direct access to their dividends.

“Once the e-dividend is in place, the

issues surrounding stale dividend warrants will be a thing of the past, similarly, the challenges of travelling from one place to another to deposit dividend warrants would be completely eliminated. This process would eliminate all challenges associated with payments of dividends in our markets,” he said.

He added that the quantum of unclaimed dividends in the market would be reduced.

“This is because unclaimed dividends are an off-shoot from dividends of small stakeholders who have been unable to claim them,” Gwarzo said.

Operators’ comments Commenting on the performance of the market in Q1, a stockbroker and Chief Executive Officer of Highcap Securities Limited, Mr. David Adonri said the market declined because of lingering energy crisis rising inflation and general low confidence in the economy.

“However, dividend yield was quite high due to low prices of stocks,” Adnori said.

On his part, the CEO of Quest Advisory Services Limited, Mr. Bayo Rotimi said the market was affected by the adverse economic climate characterised by declining oil prices, rising inflation, declining capacity utilisation and job losses in the manufacturing sector, uncertainties around devaluation of the naira and the delays to the 2016 budget.

“These have led to weak corporate earnings by listed companies which, in turn, translated to declining stock prices and market capitalisation. In order to stem this downward spiral, I strongly recommend that the federal government urgently signs off on the 2016 budget, announces a detailed economic blueprint; fully deregulates the downstream segment of the petroleum industry; encourages import substitution initiatives and allows for a market determined value of the Naira. This would lead to a reflation of the economy through the commencement of the critical revamp of our dilapidated infrastructure and lay the foundation for an economic resurgence,” Rotimi said.

27

T H I S D AY • WEDNESDAY, APRIL 13, 2016

BUSINESSWORLD

INtERvIEW

Larbie: FG Needs to Make Tough Decisions to Grow the Economy

The Chief Executive Officer and Regional Head, West Africa, Rand Merchant Bank Limited, Mr. Michael Larbie, posits that for the federal government to take the country out of the woods and attract the desired foreign direct investment, it has to make some tough decisions.

He spoke to Obinna Chima. Excerpts: As a financial institution, how has the issue of forex scarcity affected your business?

I think the issue of forex scarcity or you may call it the increased scrutiny, that the central bank put on the allocation of forex has certainly affected all banks in the market.

But for us as a merchant bank, as you know we do a lot of structuring of deals and deals in forex. Essentially, that business today is non-existent today. That is, a market-driven forex regime is no longer there and currently what is in place is a client-ordered driven market where the client opens Form ‘M’ and they indicate their need for forex, we open the necessary Letters of Credit (LCs) for them and then the central bank allocates the forex. But unfortunately, the allocation doesn’t normally cover the extent of what we have done. We have been getting about two to three per cent of what we ask the Central Bank of Nigeria (CBN) for and one needs to manage the extent of backlog of LCs. You don’t want to have too many of it there so that it doesn’t become a problem. So, the forex scarcity has impacted our fixed income trading business and our corporate banking business with regards to confirming LCs and putting in place working capital lines for the clients who import raw materials for either their manufacturing activity. But if you move that pass forex to a broader corporate activity, quite a bit of our manufacturing clients have had to scale back on their capacity utilisation because they don’t have all the raw materials they need. So, we have clients who are operating at 50 per cent capacity and in some cases lower. That, in itself is impacted the whole lot of capital expenditure they would have been embarking on. That the whole capital expenditure like building new plants and going into new business activities, clients have generally put those on hold and are assessing the way forward, or trying to get a sense of clarity around where the foreign exchange regime is. But I must say here that it is also opening up opportunity for other clients. So, what has been seen to be bad for some clients is also opportunity for some of our other clients who are able to increase their production base. Specifically, around our clients who source quite a bit of their raw materials locally. Some of our clients have seen increase in production and manufacturing activities because quite a bit of their retail stores and supermarkets are refocusing where they source their products and to the extent that those things can be manufactured or grown in Nigeria. My tummy tells me that in the short-term, it is a worse for some, than it is good for some. So, there is a need for some clear policy direction. And that clear policy direction, from my perspective should be less of a forex policy as it is more of a trade policy direction. That, it should be more of a Ministry of Industry, Trade and Investment led strategy around what activities do want to see to be wholly Made-in-Nigeria and what incentives are we going to put in place to support it. And those items that cannot be sourced here, either because we don’t have the raw materials or either because the time t bring them to market is going to take time. You can take zinc or steel for example. If we are not mining them in commercial large quantities, we must understand that it takes a long time to be able to do that, and we must put in place policies that allows for it. So, we need to, in a descending way, through good policies distinguish between raw materials that come into the market and appreciate the incremental added value they bring to our economy. We must do the cost-benefit analysis around how we encourage that. We live in a global village today and there are going to be products that other countries are able to manufacture and create them a lot more cheaply, for a variety of reasons. And if we can source them more

Larbie

cheaply and save our scarce forex, we must do that and direct our focus to areas that we have got a much more comparative advantage.

So, it needs to be a holistic solution. We need to carefully review what consumes our forex.

It is unfortunate that today, petrol importation still consumes a huge amount of our forex when we produce crude oil. I think we need to take some tougher decisions around those big chunky items that consume our forex.

If you look at the weekly returns on forex utilisation being published by banks, there been huge outlows by foreign portfolio investors. Will these outflows from the equities, bond and money market have any effect on the economy?

Normally, it would have had a big impact if we didn’t have a big local asset management and pension market. I might say that our effort in ensuring a well-functioning pension fund market is actually being very helpful. So, it is not as though there aren’t buyers of fixed income securities when the foreign investors are selling. So, I am particularly encouraged by the growth in our pension fund assets and by the ability of these pension fund assets to buy these fixed income securities when foreign investors are selling. That is an important area that we must grow. I think it is of benefit to the Pension Fund Administrators (PFAs). In terms of a secondary market approach, there are certainly willing local buyers who then buy these securities for the long-terms. And it is for their benefit. So, we haven’t seen an impact there necessarily. Now, the issue that we foresee would have been if there are new issuances and the take up of those new issuances. Obviously, given the market dynamics, there haven’t been as much new issuances from the private sector. But where the Debt Management Office (DMO) has come to the market to do new issuance, there were take

up. So, I think we have benefitted a lot from the cushion that the PFAs have provided and their growing assets under management (AUM).

But where we have seen some challenges is in the stock market where the market is down year-to-date and the continuous pressure. So, where we have seen immediate impact is in the stock market.

Are you comfortable with the response of the monetary policy authority to the challenge of forex scarcity you have highlighted earlier and don’t you think the position of the president on the devaluation debate is going obstruct the central bank from taking any major decision on the exchange rate?

It is a heavily loaded question. I always cringe when I hear politicians talk about monetary policy because obviously we have an independent central bank and one wants to continue to believe that the central bank would always take the right decision in keeping with their mandate of ensuring price stability and a well-functioning financial system in the market. So, I want to believe the central bank would perform its duties as entrusted to it by the constitution and its independence is sacrosanct. Politicians obviously have the freedom to also speak and wish whatever they desire.

So, one needs to separate both. That being said, the question is, what is devaluation? Is the issue about devaluation or market participant wanting to see a clear forex regime that is consistent and for one to be able to make long-term decision? I will like to separate the two. We all know what the forex regime is. As an entrepreneur, an investor or market participant, you want certainty to do what you want to do. And whether the central bank by putting in place a stable forex regime leads to devaluation, so be it. But I think what the country needs is a clear direction around our

forex regime. I cannot over-emphasise it, but it is very important because any foreign direct investor or real sector investors who want to bring capital to set up manufacturing plants, hospitals, schools, invest in our transportation, power, would want to understand what our forex regime is. With that, they will base their investment. So, we need to communicate that and be firm about it. In doing so, again, it may lead to some devaluation or adjustment. In terms of devaluation, I have always been a believer that forex rates should reflect the fundamentals of a country. One needs to look at the factors that the country contends with today. Our main forex earner is oil and oil price has come from as high as about $100 per barrel, to about $40 per barrel presently. So, that is a significant one.

That has also led to a significant drop in government’s forex revenue. So, our fundamentals have changed and market forces and economics would tell you that other things have to adjust to it. So, basically, one needs to keep that in mind. But in doing so, one needs to analyse the peculiarities of the country. So, I want to believe that the Monetary Policy Committee, whenever they meet, considers all these factors in their decision-making.

So, we need to make sure that our currency reflects our economic fundamental and the jury is out there to know whether that is the case or not and if that is not the case, how long can we sustain it. I must tell you that in other part of the world, when they were confronted with this type of issues, sacrifices were made and those sacrifices need to be made by everybody in the country. The people need to review their preferences by ensure that they support the economy enough by patronising Made-in-Nigeria goods and activities. There is also a need for the improvement in the quality of our locally produced goods and products to meet peoples’ preferences and quality standards.

I strongly believe that if we want to discourage the importation of rice, the right approach is not forex, the right approach is to impose the right tariffs on these rice when they get to Customs and people should be made to know that if they want to go foreign goods, the price would always be higher.

What has been the experience of your firm playing in the merchant banking sub-sector in Nigeria for about three years now?

The industry has been challenging, especially in the last two years, in a declining oil environment. You also will appreciate that given the election cycle, we had quite a bit of policy vacuum. It took the government some time to put its ministers in place. So, there was a period of lull in the market and when that happens, it does impact clients confidence.

Clients don’t make long-term decisions. You know as a merchant bank, one of the areas that we play in is infrastructure financing and project development. But what has come to play has affected the capital expenditure needs of our clients. But like I said earlier, it has opened up opportunities in our fixed income securities market. There are good activities in the corporate banking space with regards to working capital. So, overall, it is a mixed operating environment. But we have a long-term view of the market. We still believe that the fundamentals of the Nigerian economy are strong, we believe that the future dynamics is positive given the size of the population, given the extent of resource endowment of the country. But we need to fix power, eliminate corruption, reduce bureaucracy and improve the environment in which businesses operate. I think if we are able to get some of these things right, there would be an encouraging future.

But we have to take some tough decisions, which necessarily mean some pains. So, we are encouraged by the long-term prospects of the country.

28

T H I S D AY • WEDNESDAY, APRIL 13, 2016

BUSINESSWORLD

NEWS

Nigeria Tops as Hotel Devt in Africa Rises 30% Obinna Chima The number of planned hotel rooms in Africa has soared to 64,000 in 365 hotels, up almost 30% compared with the previous year, according to new figures from the annual W Hospitality Group Hotel Chain Development Pipeline Survey.

The report however showed that Nigeria remained the country with the most rooms in the pipeline, as it rose by 20 per cent in 2015. Together with Angola, the two countries accounted for 17,782 rooms between them, almost 30 per

cent of the total rooms under construction and 40 per cent of the signed rooms in the continent.

A major shake-up in the rankings by country saw Angola, which was never before listed among the top 10, push Egypt out of second place, due to a major deal signed by AccorHotels.

The W Hospitality Group survey is published ahead of the African Hotel Investment Forum (AHIF), which is organised by Bench Events.

According to a statement from the Africa Press Organ-

isation (APO), the conference which attracts all the major international hotel investors in Africa, would be held for the first time in Lomé on 21-22 June. A second AHIF will also take place in Kigali, Rwanda on 4-6 October.

The W Hospitality Group Managing Director, Trevor Ward said: “The evidence from our survey is clear - investors remain confident about the future of the hospitality industry on the continent. Even when pummelled daily by low commodity prices, exchange rate problems, political challenges and poor

infrastructure, Africa remains resilient.”

The World Bank on Monday lowered its 2016 sub-Saharan African growth forecast to 3.3 per cent from a previous forecast of 4.4 per cent in October, citing plunging global commodity prices. The bank said the commodity price rout, particularly for oil which fell 67 per cent from June 2014 to December 2015, as well as weak global growth were behind the region’s lacklustre performance.

The Managing Director of Bench Events, Matthew Weihs said: “Africa is still on the up.

For business, trade and capital investment, the continent remains an attractive proposition, leading to continuing demand for accommodation and other hospitality services.”

This is the eighth annual pipeline survey, widely recognised as the most authoritative source on hotel industry growth in Africa, particularly in revealing data on international chains signing new deals. The 2016 survey provides a full picture of hotel development across the continent - 36 hotel chains and 86 brands with more than 64,000 rooms in 365 hotels.

In comparison to figures from the inaugural survey in 2009, it’s possible to see how far hotel development in Africa has come. In 2009 there were 19 international and regional hotel chains contributing, with a pipeline of 144 hotels and just under 30,000 rooms.

Overall in the 2016 report, it’s Angola that dominates.

In July last year, AccorHotels signed with AAA Activos LDA for the management of 50 hotels with around 6,200 rooms. All are under construction and many are ready to open.

Kakatar Group Urges Govt to Patronise Indigenous Firms Jaiyeola Andrews in Abuja Kakatar Group, a Nigerian construction and engineering company, has tasked government at all levels to patronise indigenous construction firms as part of efforts to showcase made in Nigeria products to the outside world.

Speaking to journalists in Abuja shortly after the firm received an award of excellence from the Murya Magazine, the Chief Executive Officer, Barr. Babaola Robert said the essence of the award was about believing in Nigeria.

He promised that the award would spur the company to strive harder.

Robert, who was represented at the occasion by the Site Manager, Maitama District, Suleiman Hashim noted that indigenous companies are more determined to build the nation’s road networks.

“Going by international

best practice, we (indigenous companies) are doing well, or even better than our foreign counterparts in the sector. “ Looking at the standards that we use for our clientswhich are the British standard, even though I have argued it in many fora why should we even be using British standard in our clime, because the geology of the Great Britain is not the same thing as the geology of Nigeria.

“For me, I studied geology in Nigeria, I have better understanding of how to even manage the terrain- to put up structures in the condition, so that they will be firm enough.

“Our projects are out there for everyone to see.

We work with the clients, and we have the documents to prove that all the works we have done are in tandem with the geology of the area that we are building on.

DISCUSSING ECONOMIC RECOVERY

L-R: Director General, Debt Management Office, Dr. Abraham Nwankwo and President, Nigeria Union of Journalists(NUJ), Mr. Waheed Odusile at a one-day DMO workshop on Debt Sustainability and the Challenge of Financing Economic Recovery in Abuja… recently

NAICOM Endorses Plans by IGI to Convert Assets to Funds NCRI Boss Counsels them for sale and ploughing great expectations for the endowed insurer in asset Students to Consider Ebere Nwoji back the proceeds into its future. The company needs base and we want to leverage money to boost its liquidity that strength to restore our Insurance as Career of Choice The National Insurance day-to-day operations.

Ebere Nwoji The President of Nigerian Council of Registered Insurance Brokers( NCRIB) Mr. Kayode Okunoren has advised Nigerian students to consider insurance profession as a wise choice while choosing their life carrier. He said that going by the global relevance of insurance as a profession as well as its social relevance, insurance has remained the last hope of the common man.

Okunoren, also urged insurance managers to embrace effective and deliberate mentoring of the upcoming generation, insisting it has remained the best way to sustain the legacy of professionalism and excellence expected of future insurance practitioners.

He made the remarks when a combined delegation of the Actuarial Science and Insurance Students of the Lagos State Polytechnic and the Lagos State University paid a courtesy visit on the his council in Lagos recently.

“Let me note that insurance is a noble profession and a service.

There is no profession that is more socially relevant than insurance as it meets the people at

the crucial point of need when they suffer a loss to their life or property” Okunoren stated.He advised the students to project themselves as ambassadors of the insurance profession and perceive themselves always as present consumers and future providers of insurance services.

According to him, the present efforts to place insurance profession on sound footing in the country would be a mirage, unless present industry operators pay premium attention to mentoring the up- coming generation of insurance practitioners on the need to play according to the rules.

Okunoren noted that the visit was a delight to him as it was in consonance with one of the thrusts of his tenure to mentor the younger generation, but expressed the regret that the industry had painfully jettisoned some of the ethos of insurance professionalism that made the profession worth its salt in the past, because of lack of deliberate efforts to mentor the coming generation.

He, however, enjoined the students to consider insurance profession as a wise choice, going by the global relevance of the profession.

Commission (NAICOM) has okayed the ongoing plan by the Industrial and General Insurance (IGI) to convert part of its long-term assets to liquidity.

With the approval, IGI can now restructure its massive investment in real estate and subsidiaries, amounting to billions of naira, by offering

According to a statement by the company, IGI is opting for asset restructuring as part of measures to raise liquidity for the repositioning of the company in the core business of insurance.

The statement said: “We launched a strategic transformation policy in 2014 which is running well with

and enhance its capacity to meet all obligations promptly, including payment of claims.”

Already, the company has concluded plans to divest from under-performing subsidiaries anywhere they are, with a view to concentrating fully on insurance business in Nigeria.’’

“IGI remains the most

leadership in industry. Some of the properties are already up for sale,” the statement added.

The company, which paid over N3 billion claims to policyholders between 2014 and last year, listed its priorities as meeting obligations promptly, maintaining corporate integrity and delighting the customer and other stakeholders.

Weco, Cisco Advocate Seamless Business to Business Connectivity Emma Okonji Cisco Systems, in collaboration with Weco Systems International, is advocating a seamless business to business interconnectivity among technology businesses that are looking for new and smart ways to connect people, processes, data, and things with advanced intelligence, security, and efficiency.

This was the focus of a recent training organised by both technology companies in Lagos, tagged ‘Delivering Better Value with Intelligent Mobility’, which had the heads of information technology (IT) experts and other experts from the financial institutions, telecommunications, oil and gas and other service

providers in attendance.

Speaking at the training, Systems and Solution, Mobility/ MPLS Manager, Weco Systems Limited, OmotundeOgunbiyi disclosed that businesses were looking for new and smart ways to connect with people, processes, data, and provide advanced intelligence, efficiency security.

He said: “It is about connecting experiences and operational efficiencies while supporting ‘bring your own device’ (BYOD) and the Internet of Everything (IoE).”

Omotunde added that, Enterprise mobility services (EMS) facilitate network access, Mobility for work-force, Internet Protocol (IP) telephony, Digital

media streaming, video services, Location services, Biometrics, Assets tracking services and much more.

“The fourth industrial revolution has created a new landscape for organisations; new business challenges and competition are coming up as well. The training is a platform for businesses to provide seamless connectivity to business resources for more productivity and smarter decision making,” Ogunbiyi said.

“Enterprise Mobility Management facilitates swifter roll out of business applications and services as secured connection is provided for users and technology systems alike.

Enterprise wireless technology has evolved over the years

from ordinary wireless access media to highly secure enterprise mobility networks. The mobility concept has reduced the operating expenditure for building structured cabling and the clumsiness that old cabling systems can cause in an organisation” Ogubiyi said.

The training, which explored how organisations could accelerate innovation, ensure more productive employees and more engaged customers and exposed attendees to Cisco’s Connected Mobile Experience (CMX), which has been designed to provide a platform which businesses can leverage to connect to their customers and engage them with mobile technologies.

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NEWS

Microsoft Outlines New Innovations for Windows 10 Emma Okonji

Microsoft CEO, Satya Nadella and the Executive President of Windows and Devices Group, Microsoft, Terry Myerson, recently talked to thousands of developers about the work Microsoft is doing to help them embrace the new era of conversational intelligence and create more personal computing for every customer, industry and business.

Myerson announced the Windows 10 Anniversary Update, which will deliver significant new innovations for consumers and developers

for the Universal Windows Platform.

“With Windows 10 now running on over 270 million active devices, we’re celebrating with our fans by delivering the Windows 10 Anniversary Update. This significant update will help you interact with your Windows 10 devices as naturally as you interact with the world around you — using your pen, presence and voice,” Myerson said.

He added, “We are dedicated to making Windows the most productive development environment for all developers, with all-new capabilities for the

Universal Windows Platform and all-new tools for bringing apps to Windows 10 from any platform.”

“As an industry, we are on the cusp of a new frontier that pairs the power of natural human language with advanced machine intelligence,” said Satya Nadella, CEO, Microsoft.

“At Microsoft, we call this Conversations as a Platform, and it builds on and extends the power of the Microsoft Azure, Office 365 and Windows platforms to empower developers everywhere.”

The Cortana Intelligence Suite, formerly known as

the Cortana Analytics Suite, is powered by cutting-edge research into big data, machine learning, perception, analytics and intelligent bots. Built on Microsoft Azure, these capabilities can be used by developers and businesses to create intelligent end-to-end solutions, including new apps that learn about our world and bots and agents that interact with people in personalized, intelligent ways.

Last week, Microsoft announced new additions to the Cortana Intelligence Suite, both in preview. The first, Microsoft Cognitive

Services, is a collection of intelligence APIs that allows systems to see, hear, speak, understand and interpret our needs using natural methods of communication. The second, the Microsoft Bot Framework, can be used by developers, programming in any language, to build intelligent bots that enable customers to chat using natural language on a wide variety of platforms including text/SMS, Office 365, Skype, Slack, the Web and more.

Microsoft demonstrated how developers could use services, like those found in the Cortana Intelligence

Suite, to transform not only businesses but people’s lives.

Seeing AI, a research project under development, shows how these new capabilities can help people who are visually impaired or blind better understand who and what is around them.

Microsoft also released the Skype Bot Platform, which includes the SDK, API and Workflows all in the new Skype Bot Portal. With this platform, developers can build bots that leverage Skype’s multiple forms of communication, including text, voice, video and 3-D interactive characters.

of Djibouti Ismail Omar Guelleh, the Minister of Economy and Finance Ilyas Moussa Dawaleh and the Governor of the Central Bank of Djibouti Ahmed Ali Osman,” it added.

OBG’s CEO and Editorin-Chief, Andrew Jeffreys, said research undertaken by the Group’s team showed that rising levels of foreign investment were producing a positive impact across the

economy.

“Djibouti’s macroeconomic stability and enhanced business environment have helped to make it an attractive destination for investors, with positive ripple effects evident in key sectors, such as construction,” he said.

“Our first-time report on Djibouti indicates an economy in the midst of countrywide infrastructural activity.

Nigeria, Djibouti to Foster Trade Ties A new report by the Oxford Business Group (OBG) has highlighted Djibouti’s plans to foster stronger trade ties with partners across the continent, including Nigeria, as a means of encouraging economic integration and enhanced connectivity between eastern and western Africa.

The Report: Djibouti 2016 looked in detail at the country’s strategy for growth, which

includes carving a niche as a regional logistical platform. Port expansion and developing an air cargo business that could serve Nigeria and other African countries are among the projects considered.

The publication also explored Djibouti’s drive to leverage its strategically advantageous position on one of the world’ busiest shipping lanes by boosting trading activity with

both landlocked East-African countries and other international players farther afield.

The Report: Djibouti 2016, outlined the country’s growth story, which had been fuelled by rising foreign direct investment (FDI) on the back of an improved investment climate. It looks, in particular, at the young nation’s major infrastructure drive, which includes $14 billion worth of construction

and development across the transport sector.

The OBG’s first publication on Djibouti represented an expansion for the firm in its regional operations.

“It was launched on March at the Djibouti Palace Kempinski Hotel in the presence of leading representatives, VIP guests and members of the media.

Keynote speakers included the President of the Republic

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ANALYSIS

Boosting Food Output through Agric Insurance Premium Financing

Agricultural Insurance premium financing is one important but neglected area government ought to pay attention to in its efforts to boost food production in the country, writes Ebere Nwoji The federal government, under the regime of former President Goodluck Jonathan, demonstrated its determination to boost food production in the country through its agricultural transformation agenda (ATA).

To accommodate as many farmers as possible in the scheme, the government registered about 10million farmers under its Growth Enhancement Scheme, an aspect of the ATA and pledged to ensure that all farmers in the country were captured in the scheme.

At a regional mechanisation stakeholders’ sensitisation workshop in Kaduna, the government had said its intention was to use the Agricultural Transformation Agenda to move agriculture from a development project to a profitable business venture.

Along this line, it put up various intervention programmes; the most prominent being a bush clearing intervention programme for farmers with about 6,000 hectares of farm land earmarked to be cleared across the country as a way of assisting farmers who had difficulties in that area.

These efforts were geared towards boosting agric production in the country.

Unfortunately, in all these, the Goodluck Jonathan regime did not mention any effort towards boosting agricultural insurance, to secure agricultural produce from the above efforts.

The then minister of Agriculture and Rural Development, Dr. Akinwunmi Adeshina, in spite of his achievements in enhancing agricultural activities in the country, did not give much attention to agricultural insurance.

Indeed, Agric insurance, among Nigerian farmers, has remained very unpopular despite the menace of climatic change in Nigeria in recent times.

In the year 2012, the experience of many Nigerians on the menace of flood had left indelible mark on many families as houses and farmlands were washed away by floods.

The effect on food production and food pricing in the country had left many families under the threat of hunger and starvation up till date, as prices of foodstuff especially staple foods like garri, yam and beans have hit the roof top.

This was because farmers suffered great losses without any form of compensation because many of them did not insure their farms.

At one of the National Economic summits held in Abuja, Economists had expressed the views that the promotion of agricultural insurance among farmers was a major factor that would enhance large scale food production worldwide as well as reduce prices of food.

Agricultural insurance all over the world has become as prominent in public discourse as conventional insurance. This is due to the adverse effects of global climatic change on food production in different countries, which is costing the world several billions of dollars annually excluding loss of lives .The development is also fast retrogressing progress in the global struggle for food security and individual country’s sufficiency in food production including Nigeria.

At micro level, periodic losses by farmers on account of natural disaster like flood, has left them at various stages of poverty that some lacked the least capital to continue farming even at domestic scale after each year’s natural disaster.

This situation was worsened by lack of insurance cover by the farmers, which would have helped to cushion the effects of such losses on the farmers and reposition them to remain in business.

As at present, many farmers in Nigeria are still far from understanding and making use of insurance services in their business. This is mainly attributed to the lack of funds to carry out their business and at the same time

pay for insurance services.

Closely connected to this is the fact that many farmers have failed to see their farming activity as a profession or a business. They still see it as leisure or hobby; they therefore find it difficult accepting innovations that would improve on what they already know.

These reasons and more, explain why despite campaigns in different parts of the country on agric insurance, some farmers are still not responding to it.

In different parts of Nigeria, farmers see losses from natural disaster like flood or influenza like bird flu as a seasonal occurrence that must come at its due time. They also believe that such losses are unpreventable natural phenomenon, therefore they do not need preventive measures, but must take their natural course.

Bearing this in mind, efforts to make them see the need for agric insurance have not yielded the desired results. This was despite mass sensitisation programmes by the National Insurance Commission (NAICOM), which through its micro insurance programmes has been doing a lot to familiarise Nigerian farmers with agric insurance. NAICOM has also collaborated with foreign agencies in doing this as part of effort to ensure insurance penetration in the rural parts of the country.

Although the government had in the years

Currently, many farmers in Nigeria are still far from understanding and making use of insurance services in their business. This is mainly attributed to lack of funds to carry out their business and at the same time pay for insurance services

past contributed its quota in this regard by bearing part of farmers’ insurance cost through subsidised agric insurance scheme, which was provided by the Nigerian Agricultural Insurance Corporation (NAIC), insurance experts and economists said there is need for government to take further steps in subsidising agric insurance premium for covers provided by commercial insurers.

In the past four years, NAICOM had expanded the scope of agric insurance in the country by liberalising the subsector and encouraging the private sector insurers to participate in nonsubsidised agric insurance underwriting. This is due to increasing need for agric insurance occasioned by adverse effect of climatic change in the country.

But the insurers had argued that agric insurance is such a high-risk business that many insurers will not want to venture into it without government support.

Against this backdrop, many insurers are hesitant to venture into agric insurance except companies like Industrial and General Insurance(IGI) and few others which have recently ventured into it .

Their experience so far shows that many Nigerian farmers have not seen the need for insurance services and this has continued to expose them to various forms of risks.

The all-important nature of agric insurance has in recent times continued to attract public attention and solution as economists believe that lack of agric insurance has impaired large scale production among Nigerian farmers.

At one of the education conferences of the Chartered Insurance Institute of Nigeria (CIIN) held in Lagos, a past President of the institute, Dr. Wole Adetimehin, had challenged the insurers to expand their coast in insurance services provisions by including agric insurance in their products planning.

Also economic players at the 19th Economic Summit, held in Abuja, after a brainstorming session arrived at the conclusion that Nigeria can only achieve true transformation in its agricultural subsector, when farmers move from being mere agents of food production condemned to a life of poverty and underdevelopment, to being businessmen who enjoy

the fruits of their labour.

They reasoned that farmers in the country need reorientation and rehabilitation in their modus operandi to make them be in tune with global standard in food production and migrate from domestic to commercial farming scale.

They also posited that to achieve this, farmers need to block leakages in their system especially in the area of annual loss of farm produce to natural disasters like flood and influenza among livestock farmers.

According to them, where it occurs, farmers need some cushioning effects to make them enjoy some level of financial stability and remain in business.

The economists recommended that agricultural insurance and other related services will go a long way to cushion the effects of any form of loss by the farmers.

They identified risks associated with agriculture as floods as witnessed in different parts of the country now on yearly basis, vagaries in weather conditions, fire disasters, communal clashes, market failure, price changes, unsteady rainfall pattern, policy changes, land losses as well as pest and disease attacks.

As this year’s rainy season is around the corner again and farmers have started planting, there is the big question on what the Muhammadu Buhari’s regime through the ministry of agriculture would do to avert wastage of farmers’ effort during the rainy season and its associated damages through flood.

There is also the question on the effort of the present regime towards agric insurance premium subsidy both on covers provided

by NAIC and those provided by commercial insurers.

The extension of agric premium subsidy to covers provided by commercial insurers will no doubt popularise agric insurance among Nigerian farmers as the underwriting firms, in their bid to sell their products would through the use of their agents most of who are closer to the farmers in the city and those in the rural areas push the products closer to the farmers and educate them more on the importance of insurance in their business.

A Lagos-based farmer and president Satin Continued on page 31

T H I S D AY • WEDNESDAY, APRIL 13, 2016

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BOOSTING FOOD OUTPUT THROUGH AGRIC INSURANCE PREMIUM FINANCING Farms and Agricultural Services, Mr. Kola Oyedeji, said common risks which poultry farmers in the country are often prone to in addition to the risk of influenza is glut especially in egg and birds supply in certain periods of the year.

According to him, the losses incurred by farmers from this are often as high as that caused by natural disaster risk.

He said when there is glut in egg supply any year due to market lull, farmers could sell their eggs and birds at give-away price even below their cost price to avoid damage since there is no preservative method for eggs.

He suggested that government can afford to mop up the supply in time of glut and give to school children in fulfillment of its campaign promises because they need it most and from there help to minimise losses among farmers.

On the experience in Agric branches, he said through improved technology, he as an educated farmer, has learnt to prevent risk of influenza among his birds and has reduced his loss ratio to zero level to the extent that for some years now, he has stopped taking insurance cover for his farm.

But agricultural risk analysts have questioned whether vaccination and other forms of disease preventive measures can act as substitute to insurance and the answer is no. This is because death by epidemic is not the only risk livestocks are prone to. Apart from this, they can be prone to fire outbreak and other forms of misfortune which vaccination cannot provide solution to.

Apparently, the use of mere vaccination to replace insurance, by the Ojo based poultry farmer, goes to show the level of ignorance of farmers and Nigerians at large to insurance even the educated ones.

This is because the farmer in question is a BSc degree holder in Biochemistry, but he still assumes that vaccinating his birds against livestock diseases is enough substitute to insurance cover. Although the farmer in an interview told THISDAY that he decided to stop paying insurance premium because of lack of funds to do his business, this no doubt spells the need for sensitisation programmes among farmers as well as financial assistance to them especially in the area of premium financing.

This has become important as recent development has shown that Nigeria has

Commissioner for Insurance, Alhaji Kari Muhammad

now been included in the list of natural disaster-prone countries.

Climatically, Nigerian farmers are prone to risks from natural disaster such as flood, draught as well as different crop and livestock diseases. They are so prone to these diseases that on yearly basis, the farmers especially those in the rural areas are exposed to huge losses emanating from farm crops and livestock epidemics. Farmers in the city are not immune from the problem too.

This being the case, insurance managers should find ways of sweeping farmers under insurance cover through the ongoing micro insurance scheme being campaigned

by NAICOM. They should through the agency system discover various farm settlements in the country, find out risks different farmers are prone to and design products that will address such needs.

They should also study other problems facing the farmers and design investment-

related products that will solve those problems and attract them to test what insurance cover looks like and the benefits they stand to gain from there.

Obviously, one of the common problems of farmers in the country is lack of finance and inability to secure credits from finance institutions to rent farm lands, buy fertilisers, seedlings and hire labourers.

One of the farmers in the Ojo Farm Settlement said despite the noise banks are making concerning agric credit scheme, none is real as he and his colleagues in the farm settlement had made efforts to benefit from the credit scheme of the banks but none worked.

He said if government really wants to help farmers, it should no longer channel it through the banks so that the credit will be equitably distributed to farmers who need it.

But in the midst of their plight, the Central Bank of Nigeria (CBN) few years back ignited light of hope for farmers in the country.

The Apex bank has in recent times shown

positive response to the farmers’ insurance needs.Recently, the apex bank said it had perfected plans to invest USD 30 million on insurance in a way to mitigate losses among farmers through a programme tagged CBN initiative of the Nigerian Incentive Based Risk Management System for Agricultural Lending (NIRSAL).

According to the apex bank, the initiative will provide opportunities for the insurance companies.

NIRSAL, according to the former CBN deputy governor Mr Tunde Lemo is a dynamic, holistic approach that tackles both agricultural value chain and the agricultural financing of value chain and is built on five pillars namely: risk sharing facilities, insurance facilities, technical facilities, holistic bank rating merchants and bank incentives mechanism.

He said the primary goal of the initiative’s insurance facilities is to expand insurance product for agricultural lending from the current coverage to new products such as weather index insurance, new variants of pest and diseases insurance.

At one of the insurance meetings held to close the year, insurance experts had urged federal government to develop agric sector through the extension of its Agric insurance subsidy project to private sector own insurance firms.

Currently only agric insurance provided by the Nigerian Agricultural Insurance corporation (NAIC) is being subsidised by the government.

But insurance experts said government should expand its agric insurance subsidy programme to enable other insurance firms participate in agric insurance in the country and to encourage farmers buy insurance.

According to the experts, government should borrow a leaf from agric insurance expansion programmes adopted by Nigerian neighbours and save farmers from losses while expanding farm production output.

Recently in China, farmers made positive confession on the impact of agric insurance claims payment in their activities.

Nigerian insurers are yet to experience this, raising the question on when Nigerian farmers will be fully brought under insurance cover against natural disaster risks like flood which is fast becoming annual occurrence in the country.

CCNN Records N13bn Revenue, N1.6bn Profit After Tax Cement Company of Northern Nigeria (CCNN) Plc recorded a turnover of N13.04 billion in 2015 as the Sokoto-based cement company braced the tough macroeconomic and industry environment to deliver a resilient performance.

Major highlights of the audited report and accounts of CCNN for the year ended December 31, 2015 showed that the company recorded pre and post tax profits of N1.55 billion and N1.20 billion on a turnover of N13.04 billion during the year. Gross profit stood at N3.96 billion.

The company improved its intrinsic value during the year with net assets per share rising by seven per cent from N7.52 in 2014 to N8.07 in 2015. Total assets also rose by nine per cent from N15.78 billion to N17.15 billion. Noncurrent assets had grown by 21 per cent from N8.37 billion to N10.12 billion. Shareholders’ funds also improved by seven per cent from N9.45 billion in 2014 to N10.14 billion in 2015.

The Board of Directors has recommended distribution of a total of N125.7 million to shareholders as cash dividends for the 2015 business year, representing a dividend per share of 10 kobo. The dividend recommendation implies that the Board of Directors took

a long-term and prudent view of dividend payout by retaining higher net earnings to support the company. The Board decided to reduce the payout ratio from about 23 per cent of net profit in 2014 to 10.5 per cent of net profit in 2015, flowing back larger profit into the company’s operations.

Commenting on the results, A. Managing Director, Cement Company of Northern Nigeria (CCNN) Plc, Malam Ibrahim Aminu, said the company’s performance in 2015 showed steadiness and resilience, when viewed against the background of macroeconomic challenges especially in the areas of energy supply and foreign exchange.

Without access to gas because of its location in Sokoto, Sokoto State, CCNN depends on Low Pour Fuel Oil (LPFO), which it sources from Nigeria National Petroleum Company (NNPC), Kaduna Refinery. CCNN is therefore exposed to twin risks of the high cost of LPFO and the fluctuation in supply. LPFO price accounts for 65 per cent of the company’s cost of production. When the supplies become erratic or enterely unavailable, more expensive imported LPFO is used by CCNN at a higher cost.

A cost-effect analysis shows that, 10 per cent annual increase in the price of LPFO wiped away N619.05 million and N592.37 million from pre-tax profit in 2014 and 2015 respectively. CCNN had recorded profit after tax of N1.92 billion on turnover of N15.12 billion in 2014.

Aminu noted that as in all cement plants; CCNN has also been adversely affected by the recent challenge of rising cost of spares and difficulty in importation of equipment due to restrictions regarding foreign exchange.

He said the company is making efforts to convert to solid fuels in order to reduce energy cost since the company does not have access to gas at the moment, due to location disadvantage.

He pointed out that in spite of the high energy costs, the company has been able to produce and sell almost to full capacity while it has been able to fend off intense competition from other bigger operators with the higher quality of its cement products.

“Despite fierce competition and opening of new capacities in Nigeria, CCNN is able to defend its market share. This is due mainly to customer loyalty and high quality of the

Sokoto Cement brand, we don’t compromise on quality and this is acknowledged by the customers,” Aminu, erstwhile executive director finance who was appointed as Acting Managing Director on January 1, 2016, further explained.

He added that the company has continued to draw on its dedicated and enthusiastic staff to cope with macroeconomic and operational challenges, noting that as the company continues to invest in training of its staff, it has also noted increasing commitment by the workers, which has ensured the survival of the company over the decades.

“CCNN enjoys a cordial relationship with its host communities. This has given us the much needed environment to operate; protect the shareholders investment and contribute to the socio-economic development of the communities themselves. These, along with investors support, are some of the reasons the company has survived for over fifty years, in spite of the harsh economic environment,” Aminu said.

He assured the investing public that the company will continue to explore opportunities to mitigate risks and deliver better returns to shareholders.

GTBank Marks Autism Day with Walk and Cycling Campaign Raheem Akingbolu Guaranty Trust Bank plc, in partnership with the Cycology Club, Patricks Speech and Languages Centre, the Centre for Children Development, Parents of children living with Autism and other non-governmental organisations, have organised a walk and cycling campaign around the Lagos metropolis to mark the 2016 World Autism Awareness Day. The Walk for Autism kicked off from Town

Planning Way Bus-stop, Ilupeju while the Cycling for Autism initiative took off at 6am from The Syrian Club, Ribadu Road, Ikoyi.

The walk and cycling campaign officially kick-started the 6th edition of GTBank’s Annual Autism Programme, which was designed to provide support for children with developmental disabilities, most especially the Autism Spectrum Disorder (ASD), by creating awareness of the disorder and invariably acceptance. ASD is believed to be affecting one in every 150 children

around the world and is a lifelong developmental disability characterised by great difficulty in communicating and forming relationships with other people.This year’s programme will include the launch of the Bank’s newly designed online community as well as free consultation service for children in Ogun State and Lagos State. The consultation programme in Abeokuta will hold this month, while consultation clinics in Lagos and the annual awareness conference will hold in June. The Parent Support Group will also

continue to meet on the second Wednesday of every month at the Autism Unit of the College of Medicine, Idi Araba Lagos.

Commenting on the sixth edition of GTBank’s Annual Autism programme, the Managing Director of the bank, Mr. SegunAgbaje, said with this year’s programmes, the bankhopes to go beyond awareness and make its greatest impact yet by inspiring members of the general public to support people living with autism and join the fight against the stigma they face.

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EDUCATION Forex Scarcity Threatens Overseas Students, Parents, Educators Suggest Options As the current high foreign exchange rate continues to negatively affect all sectors of the Nigerian economy, particularly students schooling overseas, some parents, and educators have suggested other alternatives. Peace Obi reports The unprecedented rise in foreign exchange rate has continued to affect Nigerians at various degrees. The country’s overdependence on imported goods and services has made the situation worse.

The country does not only depend on foreign countries for good healthcare services, household materials, textiles, among others, as overseas education is also on high demand.

The naira, which floated between N230 and N260 against the US dollar in December 2015, has fallen as far below as N350 and N400 at the parallel market Thus, Nigerian parents whose children are studying overseas have to spend double or three times the amount they used to spend on their upkeep.

While parents are not only contending with the high exchange rate, the non-availability of the forex either at the banks or even at the black market to meet up with their financial obligations to their children has remained a snag that refused to go with time. The situation has left some of the students stranded abroad.

As parents grapple with the problem of increased cost of their children’s education abroad, educators, parents and concerned individuals are considering workable alternatives.

As a resident in the United Kingdom, Margaret Olu Elliott said several options abound for affected students and their parents to explore. These she said include negotiating with the schools to pay in installments; teaching their children to budget and cut down expenses, share accommodation, cook rather than takeaways, minimal social life, getting them to work, among others.

While advising parents to allow their children to work, Elliott said: “In UK, I believe degree level course students are allowed 20 hours a week term time and full-time work during the holiday.”

She said working while in school aids ethics, promotes financial management, resilience, time management, social skills, work experience and discipline; she added that it looks good on the CV and that some of the companies retain such students after graduation.

Elliott, who noted that even at a minimum wage of six dollar per hour, it gives a reasonable tax free income to the students, and that students should be encouraged to work, more so when temporary financial issues arise.

Presenting an option she titled a ‘Gap Year’ the educator noted that many students take a year off to do some volunteering anywhere in the world, adding, “it builds character, strengthens resolve and opens up new avenues. It prepares for the life at work too. For the parents, it gives a little space, allowing them a year to re-strategise or save.”

She described another alternative ‘Rod in Your Hand’ as when parents take the option of selling off some of their investments to meet the immediate needs of their children’s education, but noted that it is an option many parents do not want to hear.

“If banks or even family loan were available, especially where the child is already in, it is therefore a waste to pull out.”

For Onikoyi Enoch Abiodun, no one saw the situation coming and now that the unexpected has shown up, the best anyone could do is to proffer solution, starting with a short-term to a long-term solution. He said it is time for Nigerians to play up their patriotism, purchase things in the country at the expense of travelling abroad to get them; patronise tertiary institutions in the country, especially the private universities, among others.

Abiodun, who noted that the country has good private universities that can conveniently fit into the needs of the students studying abroad, said, “for now, parents should decide on bringing their children back to Nigeria and look for reputable schools to meet their needs

There is need to safeguard the future of Nigerian youths

and establish themselves as stakeholders to help solve the problems facing our dear country.”

Bemoaning the state of the country’s higher institutions, he said, “the challenge we are facing is a chain type, our system of education is a flop, most especially the federal and state universities which need urgent attention.”

He also stressed the need to diversify the economy through educational training as a basis for solving the problem of youth unemployment, adding that if that is done, “creativity will set in, entrepreneurship will become the order of the day and Nigeria will start producing competent, disciplined, intelligent, outstanding and world-class citizens and problem solvers.”

An educationist, Mr. Akeem Akinfenwa, who described the situation as a tough one to deal with, said the sharp increase in the exchange rate from N180 to as high as N320, N400 and N420 and the non-availability of the foreign exchange to end users is a difficult issue to tackle.

He said withdrawing their children from schools overseas may be a hard pill for parents to swallow and that parents could consider bank loan, personal savings and letting go of some of their investments. He said students could tap into such opportunities as part-time job and should take their studies more seriously so as to justify the huge sacrifice and investment their parents are making to have them retained in schools abroad.

Akinfenwa, who urged parents to view different options available to them and make the right decision, said “the time to start saving is now against September. Secondly, some of our over-investment in some things needs to go. I often wonder why people who have three to five houses, several cars, expensive jewelries are looking for soft loan when one of those houses can be sold to sort out some of these problems.

Why hold on to those properties when you have a brilliant child doing well and deserves a better education.”

A parent, Mrs. Yemi Wilde, who advised parents to consider alternative foreign exchange, rather than depending on the official price by the Central Bank of Nigeria (CBN) in paying their children’s accommodation fees and in

some cases, school fees, however noted that if parents cannot afford to pay for their children’s education through alternative forex market, it is better to bring the children back home to continue their studies.

Wilde said parents could consider “bringing their children back to Nigeria, if Nigerian universities offer their course of study. For mid-level students, they may consider a year hiatus or take them back to Nigeria. If the student is in final year, find means of looking for foreign exchange even if a loan has to be taken. But where the student is studying a course not offered in Nigeria, it is going to be tougher; the parent may consider transferring to a country with cheaper education.”

Preparing the minds of fellow parents on a likely future occurrence, Wilde said, “I just paid hostel fees using bank rate of N412 because the bank I used said CBN is not paying hostel fees if it is not part of the school fees. Parents had better be prepared for bank rate and not CBN rate this September. There is no guarantee that CBN will release funds on time and the students may lose their positions if that happens.”

An education consultant, Mrs. Rose Omonubi also suggested that parents who cannot afford the present cost should bring back their children to Nigeria; search for cheaper education from other countries and sell off some investments. “We should prioritise our children’s education. We could look for cheaper options. Many institutions are offering up to 50 per cent scholarships and other incentives to Nigerian students because they cannot afford to lose this market.”

She added: “Some parents that originally wanted their wards to do A’ Level or IB can now opt for foundation or even International Year One. These are shorter ways that save cost, especially if you are not studying medicine.

It is not easy to stay abroad without money.”

Identifying two major factors, capacity and quality, to be responsible for Nigerians’ demand for overseas education, Abiola Anyakwo, said as long as demand outstrips supply, students would still seek to study abroad.

On the issue of quality, she said, “we must certainly look into ways to improve what is on

offer in Nigeria. There are pockets of excellence here and I have come across many high achieving students who had their educational foundation in Nigeria and who are thriving all around the world. Unfortunately, our education sector is not immune to the malaise that seems to threaten many industries in Nigeria.”

Anyakwo said another alternative for those who desire UK degrees, particularly in businessrelated courses is to start year one in Nigeria and save up to 50 per cent on both tuition and living expenses. She said the huge saving could be pushed for year two and three when the students progress into a UK university.

For Laide Olajumoke Ogunbekun, education as a product cannot be marketed without considering the environment the offer is made. She said bringing the students back home may not be the best option considering the near-absence of social amenities and other problems peculiar to Nigerian tertiary education.

“At the moment, the child should get a parttime job while we look forward to the nation’s economy becoming stable and better. Parent will still be sending some money as well.”

According to Mr. Dipo Ojedeji, the current situation is a challenge to government and other stakeholders in the country’s education system to build a university system that can compete with foreign institutions. “We need to start with the infrastructure, the human capital at the same time. Train them to match the global standard and let us charge half of what parents pay out there, we will get the same result for the tertiary level. It is an opportunity to build our education system and those who can pay to do so. Create environment that match anywhere out there. We should not be involved in pushing for forex options. If the institutions out there can do it, we can.”

According to an education consultant, Mrs. Yinka Ogunde, “I think seeking cheaper alternatives seem to be the viable option in the interim, but we must also look for ways of improving our schools here. Above all, count the cost before you get in because abroad in any currency is still a very expensive venture you need to do your research well.”

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T H I S D AY • WEDNESDAY, APRIL 13, 2016

EDUCATION

UNN’s Geoinformatics, Surveying Graduates Reunite for 55th Anniversary Uchechukwu Nnaike It was excitement all the way at the Enugu Campus of the University of Nigeria (UNEC), as graduates of the Department of Geoinformatics and Surveying recently reunited to celebrate the 55th anniversary and homecoming of the department.

The celebrants were in a joyous mood as they relived their experiences as students of the department. While some are now addressed as professors, doctors and chiefs, many hold key positions in government.

Some were also meeting for the first time since they graduated more than 50 years ago.

Although the award gala held at the Surveyors’ House, Secretariat Enugu, the opening ceremony held in the main hall of UNEC, refurbished by former Deputy Vice-Chancellor, Prof.

Bede Ibe. Declaring the event open, the new Deputy Vice-Chancellor, Prof. Smart Uchegbu, challenged Nigerian surveyors and estate managers to help government to find a solution to the frequent cases of building collapse in the country. He said the collaboration and advice from experts has become necessary to save further loss of lives arising from collapsed buildings.

He called on the alumni and corporate bodies in the country to support the institution, as government’s allocation was no longer sufficient to meet its needs and maintain its leading role in the country’s education industry.

He expressed delight that the surveying department that started in 1961 with only 12 students now enjoys student enrolment of over 200.

Uchegbu, who represented the Vice-Chancellor, Prof.

Chukwuma Ozumba, said since inception, the department had made great strides in teaching, learning and research, which he said are the bedrock of the existence of the university, just as he promised that the institution would continue to ensure that the youths receive the best training in today’s competitive world.

“This is a reflection of the importance of this profession in national development; your products are today occupying prominent positions in many areas of human endeavour, both scientific and environmental spheres. In fact, I am informed that one of your products, emeritus professor, Francis Fajemirokun, former deputy vice-chancellor, University of Lagos, would deliver the key-

note lecture on this occasion.”

In his remarks, the Head of the department, Dr. Elochukwu Moka, re-stated the determination of the institution to continue to maintain its pride of place in the comity of modern surveying training in the country, adding that being the first among the first generation universities to offer surveying, it has strived to main that position.

Moka explained that in order to keep abreast with the global changing trend in the profession, the name of the department had been changed from Department of Surveying to Department of Surveying, Geodesy and Photogrammetry and now to the Department of Geoinformatics and Surveying.

“For us to remain relevant as a force we have tried to embrace every emerging technology in the field of study

within the available resources; the university authority has been supportive notwithstanding the dwindling allocations from the federal government.”

The HOD disclosed that the Education Trust Fund (ETF) had assisted at a point when the federal government attempted to designate the University of Nigeria as a centre of excellence in the study of surveying in the country.

Moka, who graduated from UNN in 1982, also commended the Surveyors Council of Nigeria (SURCON); the Nigerian Institution of Surveying, Enugu, Ebonyi and Anambra State branches and some alumni for supporting the department at different times.

He said due to the capital intensive nature of the pro-

gramme, all the supports have not met the financial demands of running the department, adding that the National Universities Commission (NUC) and SURCON’s accreditation exercises last year, had pointed out some of the areas of deficiencies, though the programme was not threatened by being de-accredited in any way.

At the award gala night, some eminent surveyors, who have contributed to the growth of the profession were honoured, some of them were Professor Emeritus Francis Fajemirokun; Prof. Francis Okeke; the Dean, Faculty of Environmental Studies, UNEC, Mr. John Okoe Quarshie-Doku from Ghana; Prof. Okpala Okaka; Dr. Elochukwu Moka; Dr. Ndukwe Chiemelu; Mrs. Mary Bassey Okofu; and Dr. Vitus Uzodinma.

Dankwambo Spends N19bn on Education Segun Awofadeji in Gombe The Gombe State Governor, Alhaji Ibrahim Dankwambo said his administration has spent over N19 billion in developing the education sector.

Dankwambo, who disclosed this during the matriculation of 523 students of the Federal College of Horticulture, Dadin Kowa, Gombe State, said the bulk of the money was spent on providing educational infrastructure, building new schools, renovation of existing structures, as well as the provision of various study materials.

He said the state ministry of education is currently reviewing and upgrading the curricular of schools to enable students to level up with the universal educa-

tion standards, adding that his government has entered into a running contract with publishers of textbooks and writing materials which are being distributed to students free of charge.

The governor, who was represented by the Permanent Secretary, Ministry of Education, Alhaji Umar Bappah, commended the management of the college for maintaining academic excellence and advised the students to work hard and succeed in their educational pursuits.

The Provost of the college, Professor Fatima Sawa, said the college always excels in the field of agriculture, and assured the staff that the management would continue to improve their welfare, as well as maintain academic excellence.

NECO Assures New Coordinators, Staff of Better Condition of Service Laleye Dipo Minna The National Examinations Council (NECO) has assured newly appointed zonal coordinators and state officers that they would be given adequate support to perform their duties according to laid down rules.

The Registrar, Professor Abdulrasheed Garba gave the assurance during his maiden meeting with the coordinators at the Minna Headquarters of the examination body on Monday.

In a reorganisation exercise carried out by the registrar last week, eight zonal offices were created, while 36 state officers and that of the Federal Capital Territory Abuja were appointed.

Garba told the new officers that they must pursue the implementation of policies and programmes of the organisation with vigour, adding that those found wanting would be disciplined according to the rules governing staff

management.

Specifically the registrar said they must implement the federal government’s stamp duty and treasury single account (TSA) policies to the latter, adding that anyone that violates the policy runs the risk of facing serious sanction.

He said the TSA was designed to “ensure accountability of government revenue, enhance transparency and avoid misapplication of funds,” while the stamp duty “is to legitimise all transactions entered into by the Council.”

At the end of the meeting, Garba released utility vehicles to each of the eight zonal coordinators, which he said was to facilitate easy performance of their assignments, especially during the conduct of examinations.

He also assured the state officers that the management would provide them with conducive working environment within available resources of the organisation.

L-R:The National Secretary, Redeemed Christian Church of God (RCCG), Pastor Allen; Assistant Pastor-in-charge, RCCG Lagos Province 37, Olajide Oluwayemi; Pastor-in-charge of the province, Benjamin Ajayeoba; the Principal, GovernmentTechnical College, Ikotun, Mr. Samuel Adaramola; and a representative of the Lagos StateTechnical andVocational Education Board, Mr. Abubakar Adebisi, with some students of the school, during the presentation of computers to the school by RCCG LP 37… recently

Inadequate Funding, Club Renovates Crippling Public Varsities, Rotary Donates Says ASUU reduced, which he said was Classrooms, Projects to Ogun School why most universities cannot Segun Awofadeji in Bauchi The Academic Staff Union of Universities (ASUU) has alleged that inadequate funding and other measures being taken by government is crippling Nigerian universities.

Addressing a Press Conference in Bauchi recently, the Zonal Coordinator of the union, Professor Nanmwa Voncir, said successive governments have tried to destroy universities through various ways in the past, adding that the union has always resisted the moves through its various struggles.

“In years past, the Federal Government of Nigeria has continued to cut down the funding of universities, especially the capital and overhead costs leading to dilapidated infrastructure and equipment/ facilities.”

He said the only saving grace for the universities and other tertiary institutions was the intervention by the Tertiary Education Trust Fund (TETFund) , adding that while the universities are bogged down by inadequate funds, personnel cost was also

pay monthly salaries of their staff.

Voncir said the union viewed the move as an attempt by the federal government to start the privatisation of the universities. “You are also aware that recently, the federal government ordered the closure of all university staff primary schools and the sack of the staff. This is a direct confrontation with the union because the staff primary school is a product of a negotiated agreement between ASUU and FGN (From 1992 to date).”

The union therefore called on Nigerians to rise against any plan by the government to undermine the universities.

“We also want to let the government know that we shall not abandon our role of being the watchdog and defender of the society.

“We shall do everything within our powers to stop the drift towards privatisation of public universities in Nigeria.

The current industrial peace on universities campuses should not be endangered by the federal government.”

Sunday Okobi

The Rotary Club of OmoleGolden, District 9110, Nigeria has donated a block of four classrooms, cleared a dump site, planted trees among others at one of the secondary schools in its district, Ajuwon High School, Ogun State, as it promised to carry out many social projects to aid teaching and learning in the school.

Also, as part of efforts to give back to the society, the club has given out non-interest loan of N50,000 each to seven out of 10 artisans certified by its members.

In his remarks during the inauguration of the projects at the school, the President, Mr. Olusegun Afelogun, disclosed that the club has adopted the school for many projects in future. “Today is a very great day. Before we came here, 10 people from our community have benefited from our microfinance scheme with the overall total of N1 million to the tune of N50,000.

“It is also interesting to note that we have inaugurated a four-classroom block for the school. Although this is not the

first project we have been doing here for the past three years.

We have adopted this school and we have been carrying out different developmental projects to aid teaching and learning.”

On the significance of the projects, Afelogun said as leaders of the future, the students need a conducive environment to learn and assimilate what they are taught by their teachers in order to attain their dreams of positively affecting the future.

“I see some of these students becoming tomorrow’s leaders, so it doesn’t really matter where they learn, what matters is for them to lean in a good environment and what is instilled in them. You can imagine the attitude of these elated students towards learning because they now observe the new environment which is very conducive for them.

“Also, the future of this country cannot be jeopardised no matter the situation, so we are doing our best through our humble contributions as we expect other organisations to take a clue from us and see that the future of these children is not cut short by any circumstance.”

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T H I S D AY • WEDNESDAY, APRIL 13, 2016

EDUCATION

NBTE, LASTVEB to Develop Occupational Standards for Beauty Industry Funmi Ogundare The National Board for Technical Education (NBTE) and the Lagos State Technical and Vocational Education Board (LASTVEB) have concluded plans to develop a national occupational standard for the beauty industry in the country.

Speaking at a one-day stakeholders’ forum recently held at the LASTVEB Headquarters in Lagos, the Executive Secretary of LASTVEB, Mr. Olawumi Gasper, emphasised that the field of beauty therapy/cosmetology has grown over the years, hence the need to exercise its mandate to train, re-skill and up-skill the existing skilled workforce in the industry to be globally competitive.

He affirmed that proper training, certification and licensing would enable current practitioners to progress into globally acceptable professionals and would serve as veritable

antidote to unemployment among the teeming youths in Lagos State and Nigeria as a whole.

“As a responsible and responsive government that has recognised the immense opportunities in the industry, it is our statutory responsibility therefore to provide a platform for the practitioners in the industry to come together towards developing the National Occupational Standards (NOS) that is a nationally recognised instrument for the training, certification and licensing of skilled professionals in the industry.”

He stressed that if the industry’s potential is properly harnessed, the benefits could be doubled with the current population of Lagos State put over 18 million people.

Gasper enumerated the areas of the beauty trades that would be focused on to include spa/massage, hair

removal, skin treatment care, cosmetic surgery, health food, manicure and pedicure, barbing, deodorants/perfume, childcare cosmetics, consultancy and training, raw materials and product assessment, public relations/advertising, human resources and administration.

In her remarks, the Chief Executive Officer of Opral Benson Beauty Training Institute, Mrs. Opral Benson, commended the Lagos State government’s efforts towards revamping professionalism in beauty trades, and expressed her readiness to support the project so that professionalism and competency could be attained in the beauty profession.

The founder of Elegant Twins School of Cosmetology, Chief Adebisi Osisanya, said she was part of the initiative when it was first inaugurated by the state government in 1978 and expressed delight that what they started then is finally becom-

ing a reality in her lifetime.

She reiterated the need to re-introduce standardisation and enforcement to be adhered to by all practitioners.

Responding to questions by some stakeholders, a representative of the NBTE, Sulaiman Yusuf, stressed the need for the beauty industry to form the sector skills council which, “we believe will go a long way in facilitating the recognition and approval by the NBTE. Language should also not be a barrier in skills acquisition because communication can be done in the language of the people involved.”

The forum, which technical working group is under the chairmanship of Mrs. Fela Durotoye, founder House of Tara with membership from other organisation in the beauty sector, resolved to constitute a working group recognising the skills trade areas in the beauty industry.

Students and teachers of Greater Tomorrow International College, Arigidi-Akoko, Ondo State, during the school’s first harvest thanksgiving service… recently

Foundation Donates Sickbay to Lagos Secondary School Akinwale Akintunde A Non-governmental Organisation, Daniel Ogechi Akujobi Memorial Foundation (DOFAM), in collaboration with ExxonMobil, has donated a sickbay to Kuramo Secondary School, Lagos.

The gesture was part of the foundation’s ‘Health is Wealth’ project, aimed at providing reliable heath care services to students in Victoria Island group of Schools.

The Chief Medical Director of ExxonMobil affiliate, Esso Exploration and Production Nigeria Limited, Dr. Bello Aliyu, while handing over the sickbay, said the company has spent over N5 billion in supporting education in Nigeria.

Aliyu, who was represented

by Dr. Babatunde Adekunle, a senior staff physician at ExxonMobil, said the company was involved in the provision of the sickbay because of its interest in the development of education and health, not just among student, but Nigeria as a whole.

He said the sickbay would provide first aid treatment for the students, before going to a proper hospital, as the facility does not replace a hospital or clinic.

Adekunle said through such projects, the company aims at increasing the availability of health care services across the country and improve the overall state of health of the nation. He said Esso supported the construction, equipping and provision of medical supplies to the sickbay

through the foundation.

He advised the students and teachers of the school to make the best of the sickbay, as the company expects that it would be maintained and maximally utilised for the benefit of all.

“Through this sickbay, we hope to keep the secondary school students healthy so that they can continue to actively pursue their studies unimpeded.”

In his remarks, a member of the foundation’s board of trustees, Sir Nnamdi Oyeka, said 57,000 lives have been transformed through the NGO’s programmes. He said the foundation, which is aimed at enhancing the education and health of the less privileged in the society, particularly the vulnerable children, was established in 2007 and has

awarded scholarships to a number of vulnerable, but intelligent students in primary, secondary and tertiary institutions in Nigeria.

“DOAMF has also undertaken various life-improving programmes which include de-worming of children, mentorship, educational, nutritional and psycho-social support to children and youths. The NGO has built libraries in various schools and sponsored free medical checkups and free medical supplies as well as sickbay projects in some states of Nigeria.”

According to him the sickbay project is aimed at addressing health issues in public schools, adding that the provision of sickbays in public schools has now become an important aspect of the foundation.

Rock-a-bye Attention Stress Deficits

and

It has been found that children and adults with attention deficit hyperactivity disorder (ADHD), attention deficit disorder (ADD) or with repetitive or obsessive-compulsive tendencies (within the autistic spectrum), focus better after sessions on a rocking chair. This is because such an individual’s need to keep moving or repeating a behavior is fulfilled by rocking on a rocking chair. They can then attend and concentrate better on allocated tasks. At those times when life’s troubles cause you tension and anxiety, you too can reach for a rocking chair to soothe your anxieties and ease up tensed up nerves. 24/7, a rocking chair should to be a permanent furniture in everyone’s home and work environment. Erroneously, what comes to mind at the mention of a rocking chair, is probably a lazy Saturday afternoon watching television, or relaxing after a day at work with a soothing drink. Well, there is more to the good old rocking chair than just relaxation. It is known to have numerous health benefits. Below are some ailments in which the rocking chair therapy has been found to be particularly beneficial: Alzheimer’s disease and dementia Rocking is known to release endorphins, which help reduce anxiety. It is particularly helpful in mid-stage dementia, where patients are very difficult to calm. Rocking appears to help reduce their pain and soothes them. Diseases that are found in the elderly can be very stressful for them and their carers. Rocking helps improve the overall health and will-being of the elderly.

Arthritis Rocking is found to be helpful for people suffering from arthritis. Rocking for about an hour everyday hastens recovery in some patients. It improves the flexibility of the knees and strengthens the muscles around the knees. It also enhances effective blood circulation, enabling oxygen to be evenly distributed around the body.

Back pain A rocking chair along with some exercises benefit people with back pain, especially those who have pain due to a bulging disc or a herniated disc. A suggested exercise to do is: to rock for five minutes by using only your feet and not your back for the next five minutes rock using only your toes and finally rock for another five minutes using only the heels of your feet. However, please seek your doctor’s advice on its suitability for you.

Varicose veins Varicose veins can be managed or prevented by rocking.

This is because your blood circulation improves due to constant movement on the chair. Rocking is especially useful for people who do not lead a very active life.

Post-surgery recovery Rocking may help patients recover after an operation. After many surgeries, patients suffer from bowel dysfunction, it has been noted that rocking may help patients resume bowel activity sooner. Rocking helps reduce pain after an abdominal hysterectomy. In addition, it helps patients to recover from a knee surgery. However, please seek your doctor’s advice on its suitability for you.

Pregnancy A rocking chair is helpful during the different stages of pregnancy and even after delivery, in the following ways: Rocking for a couple of minutes during pregnancy may help in the development of the nervous system of the fetus.

Back pain and varicose veins can be prevented during pregnancy by rocking for a few minutes every day.

It is helpful for women, who have had a cesarean section; they have less flatulence and pain and recover faster.

It is useful to relax children, especially those who suffer from colic discomforts. It will reduce crying and put the child off to sleep.It is a great place for mothers to breastfeed their child, the chair offers good support and relaxes the mother herself. However, please seek your doctor’s advice on its suitability for you.

Weight loss You can lose up to 150 calories an hour by rocking on a chair. It is very useful for people who cannot do weight bearing exercises, to tone their legs. By rocking on a chair, you will be working your muscles and therefore toning them.

Rocking is also beneficial to improve your body posture.

Benefits for the elderly Many elders like rocking on a chair and may not even be aware of its benefits. We know that they are actually improving their general health whilst rocking. Rocking reduces anxiety and boredom in the elderly. It has been noted that those who rock regularly need less or no medication to deal with depression-related issues. Rocking also improves balancing skills in the elderly and prevents injuries due to falling. It is also a great exercise for elderly people who are inactive.

Omoru writes from the UK

35

T H I S D AY • WEDNESDAY, APRIL 13, 2016

PERSPECTIVE

The Case for New Delta State University of Science and Technology Emerhana Onoriode Paul Recently, the leadership of the Isoko Development Union (IDU), the highest socio-cultural group of the Isoko ethnic nationality, visited the Governor of Delta State, Ifeanyi Okowa in the Government House, Asaba. The visit which had in attendance the crème de la crème of temporal and spiritual leaders of Isoko went to Asaba to present before the governor a litany of challenges facing the Isoko ethnic nationality. One of the prayers of the delegation was the conversion of the Delta State University, Oleh Campus, which currently accommodates the now disaccredited Faculties of Law and Engineering into the Delta State University of Science and Technology, Oleh. The news of this request by the leadership of the IDU was like a black swan that swooped into the Government House.

There are already arguments from some quarters that the call for the new science and technology university is premature or even unrealistic based on the current administrative, economic and political reality. Administratively, some have argued that the state government has a functional university with campuses in Abraka, Asaba and Oleh. They have also noted that setting up a brand new university of science and technology at a time when the National Universities Commission (NUC) has withdrawn accreditation for some faculties on ground of not satisfying the accreditation indices was baseless. Some have also argued that 142 universities were already an academic “red ocean” in Nigeria and the state should seek for other “blue ocean” initiatives for growth. From the economic flank, they are quick to mention the fallen price of Bonny Light at the international oil market which automatically means the fall of revenue earnings accruing to the government. Politically, funding such a project will require a budgetary provisioning. The 2016 Budget of Renewed Hope and Inclusive Development made a N10.1 billion provision for education, an amount which may not have captured the science and technology university initiative. While these fears are genuine, it is monumentally expedient to note that the value of this proposed institution is enormous.

For me, there are several shades to this proposal from the peace-loving Isoko people. The establishment of the proposed Delta State University of Science and Technology should not be viewed from the binoculars of ethnic or tribal chauvinism of the Isoko people but with the bigger Delta picture in mind. This demands a huge and profound sense of patriotism from all the protagonists of state powers and stakeholders that will eventually give vent and impetus to this novel request. This is true because Delta State is a complex puzzle. This is just one of the pieces in that complex puzzle. We must therefore set our hearts as a people, towards searching for every piece that will not only unify us but make us truly Deltans.

The meeting of Governor of Edo State, Adams Oshiomhole with the executive secretary of the NUC on March 23, 2015 was quite revealing. Oshiomhole was at the NUC to collect the certificate of recognition for the new Edo State University, Iyanmo.

Okowa

The NUC is not of the view that Nigeria was already an academic red ocean.

According to Prof. Julius Okojie, only 400,000 out of the 1.5 million candidates that sit for the Unified Tertiary Matriculation Examinations (UTME) yearly gain admission into Nigerian universities; new universities are needed to boost access to higher education while making sure that quality is not compromised. When a new university comes on board, what that means is that we are opening up access to tertiary education. He added that the Edo State University has become the 41st state university and 142nd university in Nigeria. The submission of the executive secretary of the NUC therefore provides the ground or the foundation of the call for the establishment of the new University of Science and Technology in Delta State.

It is clear that as a country, there is a huge gap in our capacity building architecture. A total of 1.1 million youths who are willing to further their education are placed on an academic moratorium by the system. This has also reflected in the position of our ivory towers on the international ratings. While we may not be particularly proud of the position our universities occupy on the global best universities rating by the several rating agencies, I totally agree with the views of the executive secretary of the NUC. Government must adopt and take deliberate steps and approaches that guarantee quality education through increased funding and provision of infrastructural facility and also make tertiary education accessible.

To continue to look the other way in any guise will lead us into a country with a labour force that is unemployable. Once this happens, criminality and social vices will take the centre stage.

The Delta State University does not provide technology related courses except in core engineering. There is no Faculty of Environmental Sciences. Such a faculty will have departments like Architecture, Estate

Management, Surveying and Geomatics, Urban and Regional Planning, Quantity Surveying, Building etc. The existence of the Faculty of Engineering in the Oleh Campus of the present DELSU is a further justification to the request. This is the meaning of “boosting and opening access to higher education” in the words of Okojie.

Again, the agriculture component of a Delta State University of Science and Technology, Oleh will mark fresh impetus for the now moribund Aviara Fish Farm. When the Government College, Warri-trained Military Administrator of Bendel State, Late Major General George Agbazika Innih established the Aviara Fish Farm; he had an extremely large picture in mind. According to Malcolm Johnson, an Associate Professor of Fisheries at the International Centre for Aquaculture (ICA) at Auburn University in his work, ‘Commercial Fish Farming Project in Nigeria’, the ministry of agriculture and natural resources of Nigeria’s Bendel State contracted Tiffany Industries Americas Corporation (a subsidiary of Tiffany Industries, Inc., St. Louis, Missouri), to develop and manage a large-scale mechanised row crop farm and commercial fish farm. Subsequently, the International Centre for Aquaculture (ICA) at Auburn University was sub-contracted

by Tiffany Industries Americas Corporation to develop and manage the commercial fish farm component, which became known as “Aviara Fish Farm of “Bendel Tiffany Farms”.

In the master plan of the Aviara Fish Farm, there was provision for the Institute of Aquaculture. The Delta State Government should reactivate the Institute of Aquaculture and upgrade it to the Faculty of Agriculture (with an Institute of Aquaculture) to be known as Delta State University of Science and Technology, Aviara Campus. This will become the strategic retooling approach towards the revival of the Aviara Fish Farm. While the Aviara Fish Farm provides jobs, reduces poverty, promotes local business and guarantees food security in consonance with the United Nations Sustainable Development Goals, the Institute of Aquaculture will provide training and re-training for aqua-scientist and other specialised areas of agricultural technology. This is the true meaning of diversification from oil and gas to agro-driven economy especially in the face of the dwindling price of oil and gas at the international market.

Other specialised institutes like the Institute of Agricultural Research and Training, Institute of Project Management and the Institute of Geosciences and Space Technology can be established alongside the faculties. The university can therefore take off with the Faculty of Law, Faculty of Engineering, Faculty of Environmental Science, and Faculty of Agriculture and institutes such as Institute of Aquaculture, Institute of Agricultural Research and Training, Institute of Project Management with affiliation with the Project Management Institute, United States of America, Institute of Geosciences and Space Technology and Delta Business School and Leadership.

The present administration in the state came at a time when the price of oil and

gas at the international market is having a free fall. This problem of shortfall in revenue may seem to support the argument against using hard-earned meagre resources to build a new university, especially where existing faculties have failed to meet the accreditation indices.

However, the need to develop human capacity, diversifying revenue sources and develop sustainable infrastructure remains the best option out. Experts believe that this is the right time to stimulate growth.

To this end, government revenue must be deployed through functional policy thrust for the greater good of the greatest number of citizens. The N75 billion Internally Generated Revenue (IGR) projected benchmark given to the Delta State Board of Internal Revenue is therefore a welcome development. We can only meet such an IGR target if sustainable jobs are created. Academic, non-academic and small scale businesses are the direct jobs that this new initiative will generate.

The five point agenda of the Delta State Government code-named SMART which means; Strategic wealth creation, Meaningful peace building platforms; Agricultural reforms and accelerated industrialization; Relevant Health and education policies; Transformed environment, bear direct relevance to the establishment of the proposed Delta State University of Science and Technology. The proposal may have come at a time when the ink of budgetary processes and politics may have dried up. However, the state government can commence preliminary processes leading to the establishment of this institution through the introduction of an Executive Bill for the Establishment of the Delta State University of Science and Technology, Oleh, Delta State, 2016. This will give an untrammeled opportunity for a robust legislative debate and consideration of the fundamental objectives of the bill. We cannot underscore the enormous wealth the institution will create through job creation and capacity building neither can we discuss agricultural reforms without going back to the international model fish farm that is laying desolate in Aviara.

Apart from the academic benefits of the Aquaculture Institute, Aviara Fish Farm has the capacity to create over 3,000 jobs based on the 1978 projections.

Technical education is a key area of attention for the Okowa-led administration; government has left no one in doubt in this respect. The life support and oxygen required for the transformation of technical education can only be provided by a world-class university of science and technology.

Graduates of technical education who wish to improve their capacity will find respite in the proposed university. It is also important to stress that indigenes of Delta State who are interested in environmental sciences are subjected to the excruciating and sometimes soft racial bias in the name of non-indigenes and are denied admission. A home-grown Delta State University of Science and Technology, Oleh will become a one-stop shop and a driver of the government policy of the day and beyond.

Paul wrote in from Asaba, Delta State

Bola, Atinuke Ige Scholarships Contest Holds Saturday A total of 400 candidates from public schools in Oyo and Osun States will on April 16, 2016, participate in the Bola and Atinuke Ige Scholarship Contests in their respective states.

The memorial scholarship was instituted by the family of the late jurists to touch the lives of brilliant but indigent public school students in both states.

In a release by the deceased eldest child and Proprietress

of The Vale College, Ibadan, Mrs. Funso Adegbola, the move to reward indigent students was borne out of her late father’s passion for free, qualitative education for the children of the poor, which was unrivalled as he implemented a programme of free education at all levels in Oyo State when he was governor.

She said his late wife, Justice Atinuke Ige, who distinguished herself at the bench lived all her life to bring succour and

hope to those who had lost hope. “She was responsible for the education of many children from the ranks of the poor in the society up to university level. Many of these beneficiaries were not related to her in any way but they are making waves in the society today.”

Adegbola said in 2013, the family instituted a scholarship award in memory of Justice Atinuke Ige worth N2.5 million for each of the two winners

annually. “It was for students in public secondary schools in Oyo and Osun States to have their Advanced Level Cambridge Examination studies at The Vale Tutorial College Ibadan. The past winners came from Command Secondary School Bode Igbo; Wesley College of Science Elekuro; Alayande School of Science; Government College; and Queens School Apata Ibadan.

“In 2014, the family initiated another scholarship award this

time in memory of Chief Bola Ige. It was worth N12 million for each of the two winners every year. This is for students that are academically sound but whose parents are unable to finance their academic pursuits in public primary schools in Oyo and Osun States. The two winners (a male and a female) will have the opportunity of having their secondary education from JS1 to SS3 at The Vale College with all expenses paid by the Bola Ige family,

including boarding fees.”

For the 2016 awards, Adegbola said 200 students from public primary schools in the two states would engage in a written test for the selection of 10 finalists. At the same time, another set of 200 students from public secondary schools in both states would also be involved in a written test to select another 10 finalists. The grand finale will hold on May 14, 2016 when the four lucky winners would emerge.

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WEDNESDAY, APRIL 13, 2016 • T H I S D AY

CITYSTRINGS

Acting Features Editor: Charles Ajunwa Email charles.ajunwa@thisdaylive.com

An Inspired Collaboration

As part of efforts to improve advocacy in court processes in Nigeria, two Senior Advocates of Nigeria, Folake Solanke and Fabian Ajogwu, recently presented a new book on the issue in Lagos.

Write Ugo Aliogo and Jemima Bolokor

F

olake Solanke and Fabian Ajogwu are two individuals in the same line of profession. They are both Senior Advocates of Nigeria (SAN). In the legal profession, they have made their marks and set outstanding track records. While Solanke represents a symbol of shining light to older lawyers, Ajogwu is a role model for the young lawyers. Recently, they embarked on an intellectually focused adventure at charting a new course in the practice of the profession. They collaborated together and wrote a book titled ‘Oral and Written Advocacy: Law and Practice Traditional and Modern Trends in Advocacy’.

Research explains that advocacy is a very important practice in the legal profession.

Advocacy is a process whereby an individual or group aims to influence decisions within the social system and institutions. It aims at providing an opportunity for people to have their voices heard on issues concerning them. It defends and safeguards people’s rights, while ensuring that their views are genuinely considered when decisions concerning them are made.

The public presentation of the book was held recently in Oriental Hotel, Victoria Island, Lagos, and it was well received by members of the Bar and the Bench. The authors said that over the centuries, most lawyers have acquired oral advocacy skills in the public theatre of the courtroom. They also noted that overtime, the amount of time, the huge costs expended on court trials, congestion and the poor quality of infrastructure in the law courts, eventually caused a gradual shift from oral advocacy to written advocacy, first in the United States of America, United Kingdom, Nigeria and other places.They further stated that the courts and the lawyers have accepted the ascendancy of written advocacy because it saves time and costs of litigation, “only a limited time is allowed by the court rules for oral advocacy.”

Speaking at the event, Human right lawyer, Femi Falana, called on the court to work towards the improvement of the advocacy system in Nigeria, in order to strengthen the practice of the legal profession.

He said the legal profession is facing serious challenges in the Nigeria, stressing that most members of the profession are not representing the profession in a positive light.

Falana stated that the book is a vital intellectual material which will contribute immensely to the practice of the legal profession especially from the angle of advocacy and other vital areas, adding that members of the profession will find it very useful.

He added that the book has thoroughly treated the rules of professional ethnics in legal practices, while lamenting that: “What you have done with this book is to remind us that in the midst of the challenges facing the profession, there are still some decent lawyers in the country. Folake Solanke represents the best among the old while Fabian Ajogwu represents the best among the young.”

In her welcome address, the lead author, Solanke, expressed displeasure over the allegations of scandals against members of the bar and the bench, adding that there are many members of the profession whose practice is beyond reproach, “some members have polluted the stream of justice in gross violation of the cherished, universal tradition of our learned profession.”

She called on lawyers to imbibe the culture of reading, stressing that the reading culture is ‘abysmally low’ in Nigeria and the world, therefore, there is need to use the internet as an additional facility, not as a substitute.

Solanke remarked that in pursuit of superior advocacy, lawyers should pay attention to knowledge in order to know the law properly, while also advocating for increased attention in appearance and language.

She said: “The profession must therefore engage

L-R: Prof. Pat Utomi, Nigeria's former High Commissioner to the United Kingdom, Dr. Christopher Kolade, Lead Author, Folake Solanke, co-author, Prof. Fabian Ajogwu and the book reviewer, Olasupo Shasore, at the book presentation in Lagos...recently

A cross section of guests at the book launch

in continuing legal and professional education so that lawyers can be current in their legal knowledge in order to perform admirably in any situation. It is fantastic pleasure to watch supreme spellbinding oral advocacy displayed in the court-room by an erudite advocate. The Nigeria Bar Association (NBA) national body and the branches must tackle these unacceptable professional lapses for the sake of the legal profession and the society.

“In my early years at the bar, the NBA Ibadan branch had a programme of continuing legal education on Saturdays. The programme enhanced the legal knowledge of lawyers including the

speaker. It is recommended that each NBA branch should institute such a programme for the lawyers, particularly, the younger legal practitioners.

“This academic addition to legal literature is a wake-up call to the entire members of the learned profession to rededicate ourselves to what veritable and superior advocacy is all about, for the restoration of the golden age of the profession, when it was corruption-free.

“We need the young and the senior citizens for a stable society. I seize this opportunity to appeal, vehemently to the youths to desist from the foolish supposition that the older citizens have had turn and therefore should give way

to the youths to perform. Any society which abandons or neglects its older generation does it at its peril.”

Solanke stated that advocacy is an area of concern for her, adding that she accepted the invitation to be the lead author purely on professional considerations. “If the title had contained the magical word: ‘advocacy’ my reaction might have been different.”

She lauded the professional bond which exists between members of the legal profession, adding that it enables them to reach out to each other.

“I refer to the relationship as a kind of fraternity, particularly among members of the inner bar.”

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PERSPECTIVE

GivingWomenBetterOpportunitiestoExcel The Niger Delta Development Commission recently organised a drama titled ‘Little Drops’ in Calabar, Cross River State, to draw attention to the plight of women and children in the oil rich region of the country, writes Ifeatu Agbu

R-L: Semenitari, Mrs. Linda Ayade and the wife of the Cross River State’s deputy governor, Mrs. Evara Esu, at the final command performance of the stage play, ‘Little Drops’ in commemoration of this year’s International Women’s Day in Calabar…recently

F

or eight days, the poignant story of the Niger Delta was told and re-told by the characters in Professor Ahmed Yerima’s; ‘Little Drops’. From the nation’s capital in Abuja to the Garden City in Port Harcourt; from the ancient Benin City to the Canaan City, Calabar, the story of the unscripted victims of the conflicts in the Niger Delta was etched in bold relief.

The Niger Delta Development Commission (NDDC) used the stage drama as a platform to reach out to the women. The drama looks at the Niger Delta from the perspective of women – the neglected innocent victims of the war of contradictions in the region. One of the characters in the play puts it succinctly: “They fight their wars, yet we and our children are left with the scars…”

Conscious of its role as a facilitator of all-round development of the Niger Delta and its people, the NDDC used this year’s International Women’s Day to put the spotlight on the plight of women and children in the region. It was an opportunity to inspire and celebrate the achievements of women in the Niger Delta region.

Although, the international Women’s Day, launched by United Nations in 1914, to reflect on progress made, pursue change and commemorate acts of courage by women globally every March 8, this year’s celebration was taken a notch higher by the NDDC. Thanks to Professor Yerima’s ‘Little Drops’, the message was kept alive for over one week as men and women of diverse callings converged to watch and empathize with the story of Niger Delta women.

The NDDC also used the celebrations to offer men an opportunity to sign on to gender equity. At all the venues of the stage play, in Abuja, Port Harcourt, Benin and Calabar, huge boards were mounted for all invited guests to endorse the gender parity campaign in furtherance of the theme for this year’s Women’s Day celebration, which is: ‘Pledge for Parity, Planet 50-50 by 2030: Step It Up for Gender Equality’.

According to the United Nations, this year’s commemoration reflects on how to accelerate the 2030 agenda, building momentum for the effective implementation of the new sustainable development goals, as well as focuses on new commitments under the UN Women’s Step It Up Initiative.

At the final command performance of ‘Little Drops’ in Calabar, on Monday, March 14, 2016, several women of substance jostled for space and attention. The wife of the state governor, Dr Linda Ayade was there, so was the wife of the deputy governor, Mrs. Evara Esu. The deputy Vice Chancellor of the University of Calabar, Prof. Florence Obi attended, so did the Vice Chairman of Odukpani Local

Government Area, Dr. (Mrs.) James Okon.

Obviously, the women of Cross River State led the way in boosting the campaign for gender parity.

The popular Efik dance, “monikem” set the stage for the grand finale which was also spiced with a poetry rendition by Iquo Dianaabasi, an online magazine editor based in Lagos. Iquo moved the audience to tears with Nnimmo Bassey’s poem: “I thought it was oil.”

The haunting poignancy of that poem had a sobering effect on the audience and more or less created the right ambience for the command performance of the night.

The NDDC Acting Managing Director, Mrs. Ibim Semenitari, provided the justification for inviting the crème de la crème of the society to watch the ‘Little Drops’. She said that the stage play “is as much entertainment and drama, as it is a campaign to bring, once more, to national conscience, the anguish and travails of the women, children and people of the Niger Delta. It is part of programmes which we have lined up to raise awareness, encourage industry among the people and improve human capacity.”

Mrs. Semenitari threw more light on the essence of the play. She said: “It provides us with startling and brilliant metaphor, a most enchanting pathway through which we can begin to resolve the twin inequities of gender and development, both infrastructural and human, which the Niger Delta has suffered for far too long. Told from the perspective of four women, caught in the crossfire of the armed conflict in the region, we come face to face with the tragedy of our beloved Niger Delta.”

“The Niger Delta torment, her needs, her sores and bruised spirit, some aspects which are so brilliantly captured in this play, must continue to remain an item in the national agenda, a constant narrative in national and international discourse, demanding and requiring healing. In doing that, we must also begin to think more on helping to rebuild the lives of women and children who are unscripted victims of the conflicts in the Niger Delta.”

The NDDC Chief Executive Officer said that it was necessary to use the engaging platform of drama to re-introduce the issues confronting the Niger Delta to national consciousness, adding that the burden of development was great.

She said that the Federal Government had indentified important stakeholders that must work together, as development partners, to move the region forward. “These partners, working with the NDDC, under the new standards of probity, due process, proper application of funds, clarity of vision and engagement, which President Muhammadu Buhari has ushered in, will help ensure greater synergy and accelerated growth,” Mrs.

Semenitari (right) exchanging pleasantries with Ogiefa, during a stage play of ‘Little Drop'

Semenitari said.

Mrs. Semenitari decried the challenges confronting the Niger Delta region, especially the environmental, political, social and economic challenges, noting that women and children have suffered, for too long, the consequences of the conflicts in the region, one that is scarcely highlighted in all intervention strategies to address regional challenges and the attendant agitation for resolution.

As part of the response to this challenge, Mrs. Semenitari said that the NDDC had started the Girls in Engineering, Mathematics and Science (GEMS) programme, as well as instituted the Queen Kambasa Awards for Excellence. She explained: “GEMS aims to encourage young girls in the region to embrace science and technology, as well as to provide quality manpower that will enable them participate in the predominant oil and gas sector of the region, while the Queen Kambasa Awards recognize the first known queen of the Niger Delta. In her honour, NDDC aims to recognise and reward achievement of Niger Delta women in different spheres and, in doing so, inspire women to excel in whatever they do. It is important to create role models for our young women and girls by showing them the path to excellence.

According to the NDDC boss, “women cannot continue to trail in a society that defines them as weaker, that puts them in the straightjacket of male-dominated narratives.

Because it is a fact that women, by numbers alone, are more than half the world’s population.” She said that the marginalization of women must change.

Women, all over Nigeria, have shown great capacity to drive the course of development.

In more and more homes of the Niger Delta, they have assumed roles of bread-winners, holding society by the scruff of neck and demanding to be taken seriously.

For Dr. Linda Ayade, the wife of the Cross River State governor, women should not allow themselves to be made to feel inferior as that could only happen when they permit it. “It is what you permit that comes to you. Our women have been permissive for a very long time,” she said.

She charged women not to be deterred by retarding traditions that tended to hold them down. “We must resist the negative forces and forge ahead to be at par with the opposite gender. Whatever inspiration you get that will lead you to your purpose must be followed without distraction.

You may fail, but failure is not a limitation.

What matters is what you do to overcome your challenges,” she said.

Dr. Ayade advised women in privileged positions in the society to assist others who were at the fringes to rise to some reasonable level, advising women to always set their

goals right. She further admonished: “Do not follow the crowd for any person that goes with the crowd will stop where the crowd stops. But the ones that follow their dreams soar to greater heights.”

Speaking in a similar vein, Mrs. Aisha Buhari, wife of President Muhammadu Buhari, urged stakeholders to strive to bridge the gender gap to make for a balance in leadership roles. She spoke at the International Conference Centre in Abuja through Mrs. Pauline Tallen, the former Deputy Governor of Plateau State.

According to her, the world was in an era when women were making impressive contributions to social, economic, cultural and political achievements.

She said: “I urge you, through your imagination, influence and decisions, to create a world where the weak and vulnerable, as well as the strong and gifted will have room to excel. I also urge you to take a concrete step to help achieve gender parity more quickly, so as to create gender balanced leadership, respect and value difference.”

At the Port Harcourt event, the wife of the Rivers State government, Hon. Justice Eberechi Wike, said that apart from the issues of eradicating poverty among women and gender parity, attention should also be paid to the health of women. She explained: “I thought they should have also said something about health of women. When I say health I am not talking about only the physical health of women, the mental health should also be considered. Mental health should not be ignored when we are talking about the rights of women.”

Wike advised women to learn to love and support each other, noting that women were very important in building a nation. She said that peace building was another important point to address since women play very key roles in the maintenance of peace in the country.

Justice Wike enjoined women to fight against domestic violence and other forms of injustices meted out to women. She urged them to advance the course of women in Nigeria against issues like rape, domestic violence, early marriage and all forms of discrimination against women.

The story was the same in Benin when the ‘Little Drops’ was performed in the Edo State capital.

Lady Belinda Ogiefa, the Special Adviser to the Edo State governor on Women Affairs, Comrade Adams Oshiomhole, urged both men and women to support the campaign for gender parity.

Ogiefa, who represented the wife of the Edo State governor, Mrs. Lara Oshiomhole, said that women should be empowered in various ways to enable them realise their full potential.

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WEDNESDAY APRIL 13, 2016 • T H I S D AY

INTERNATIONAL

email:foreigndesk@thisdaylive.com

Another Two Suspects Charged in Brussels Bombing Case Belgium has charged two more men with terrorist offences over alleged links to the rental of a property thought to have been used as a safe house before the Brussels attacks, federal prosecutors said yesterday.

They identified the two men charged on Monday as Smail F., born in 1984, and Ibrahim F., born in 1988 and did not say when they were detained. Under Belgian law, suspects usually need to appear before an examining judge within

24 hours.

That brought to six the total of suspects caught and charged since late last week as a result of investigations since the March 22 bombings in Brussels that killed 32 people.

“They are charged with participation in the activities of a terrorist group, terrorist murders and attempts to commit terrorist murders, as a perpetrator, coperpetrator or accomplice,”federal prosecutors said of the latest two

to be charged.

Police raided the suspected safe house in the central Brussels district of Etterbeek on Saturday, but found no weapons or explosives.

Belgian newspaper DH said

the two men had been seen on security camera footage entering the house the day after the attacks and carrying out several bags.

Prosecutors were not immediately available for comment on the

DH report.

Four other suspects were arrested on Friday, including Mohamed Abrini, who investigators say has confessed to depositing a bomb at Brussels

airport, and Osama Krayem, suspected of buying bags used by the bombers.

Abrini is also wanted in connection with November’s attacks in Paris that killed 130 people.

Greece Expects First Asylum Decisions under EU Deal Greece said authorities would start ruling on asylum applications from hundreds of migrants in the next two weeks, in a major test of a new deal to try and control the flow of people trying to reach Europe.

Asylum applications in Greece have been piling up since March, when the European Union and Turkey signed an agreement intended to close off the main route into Europe for over a million refugees and migrants since last year.

Under the deal, those who arrive to Greece from March 20 will be screened, registered and detained in holding centers until their asylum applications are processed. Rejected

applicants, and those who do not apply, are returned to Turkey.

Amnesty International has called the situation in Greece “very chaotic,” without enough attention for individual processing and has voiced concerns that the process will be a “rubberstamping exercise” to send people back.

So far, around 325 people who did not request asylum have been returned from the Greek islands under the accord, which the U.N. refugee agency (UNHCR) has condemned and rights advocates say may violate international law.

GOING HUNGRY IN YEMEN

A man dresses his malnourished daughter at a malnutrition intensive care unit in Yemen’s capital Sanaa…recently

UN Agencies Increase Humanitarian Aid to Borno Zacheaus Somorin The United Nations agencies and non-governmental organisations are increasing their humanitarian supports to Borno State, reaching people struck by crisis in rural parts of the region.

Arriving in Bama town, some 76 kilometres outside Maiduguri near the Sambisa forest and largely destroyed by violence, United Nations Assistant Secretary-General and Regional Humanitarian Coordinator for the Sahel, Toby Lanzer, described the suffering of some 30,000 people in Bama as acute.

The full extent of the agony inflicted on the people of the Lake Chad Basin as a result of the violence is still unknown, but as towns such as Bama open to aid agencies, the absolute destruction Boko Haram has left in its wake is becoming clearer.

“Inter-agency teams are currently assessing more hardto-reach parts of the state. We are increasingly emphasising

the relief-development nexus in a region that suffered from historical underdevelopment,” explained the recently arrived United Nations Humanitarian Coordinator for Nigeria, Ms Fatma Samoura.

“When faced with such suffering, we tend to focus on an emergency response, and in the case of Bama it is right to do so, but rarely has the need for development been greater in a crisis setting such as that of Borno,” Lanzer explained.

“Some UN development agencies stand ready to support communities under the leadership of the authorities,” he added.

Borno’s capital, Maiduguri, is a city of 1 million inhabitants who are hosting a 1.6 million people displaced by Boko Haram. There Lanzer focused his visit on the host communities, all of whom have shown unparalleled generosity.

Lanzer called on donors to back development initiatives in the region concurrently

with the emergency response.

“Solid waste management and livelihoods are two of the most glaring needs in Maiduguri despite the strong efforts of the State authorities. As the rainy season approaches, a failure to manage waste will result in a public health crisis and exacerbate human suffering; at the same time, providing the youth vocational training is the right thing to do today, and can help prevent a deeper crisis emerging tomorrow,” he added.

The international humanitarian agencies operating in Nigeria plan to provide aid to people in the North-East of Nigeria at a cost of US$248 million for 2016, yet is only 12 per cent funded.

“We are facing one of the largest and most grave crises anywhere,” Lanzer said, adding that , “donors now need to provide aid agencies the resources to complement the State’s work to keep people alive and address the root cause of the crisis.”

Two Soldiers Killed, 50 Injured in PKK Attack in Turkey Two soldiers were killed and nearly 50 people wounded in a car bomb attack on a Turkish gendarmerie base in the southeastern town of Hani overnight, security sources said yesterday.

A large vehicle laden with explosives rammed into the base and the dormitory housing the

families of security personnel, shattering windows and wrecked the roofs of buildings.

Such attacks on security bases in the southeast have become more common as in recent months as fighting between Kurdish militants and security forces rages. Witnesses said

vehicles, houses and shops nearby were also damaged due to the powerful blast.

Security sources told Reuters that two soldiers were killed and nearly 50 wounded. The military confirmed in a statement that one soldier and 47 people had been wounded.

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WEDNESDAY, APRIL13, 2016 • T H I S D AY

INTERNATIONAL

Austria to Tighten Checks at Italian Border Austria will introduce tougher border controls at the Brenner Pass crossing with Italy from June 1 at the latest as part of its tough response to the EU migration crisis, Defence Minister Hans Peter Doskozil said yesterday.

With border restrictions along the Balkan route, Vienna expects migrant arrivals to Italy by sea to nearly double this year to 300,000, but both countries have said they would keep traffic across the border “fluid” at busy times.

The Brenner Pass, which links Austria and Italy, is the most important Alpine crossing for heavy goods traffic.

Asked if Austria planned to build a fence at the border, he referred to a system “similar to the one in Spielfeld” at Austria’s border with Slovenia, which consists of fences, lanes and tents.

The exact date for the introduction of stricter controls at the European North-South crossing depends on the number of migrants and the progress of construction work of the new border control center, Doskozil said, adding such work had started.

The European Commission was very concerned, according to a spokeswoman.

“If these plans were to materialize, then we would have to look at them very seriously. The Brenner Pass is essential for the freedom of movement within the European Union,” commission spokeswoman Natasha Bertaud told a regular briefing.

EU executive had not been informed and had learned about them from media reports, she said.

A spokesman for Tyrol police said on Monday that current building work

merely consisted of laying the foundations for part of the site.

Italy’s European Affairs Minister European Affairs Minister Sandro Gozi criticized the Austrian plan in a statement.

“It is not by erecting improvised walls that we will resolve problems...Vienna should reconsider this decision which runs counter both to the spirit and the letter of European rules as well as to the friendship that links Italy and Austria,” he said.

Austria’s parliament is due to vote on a draft law for tougher asylum rules in the coming weeks.

The highway across the Brenner Pass is the main thoroughfare through the Alps to get to Germany from Italy -- by way of Austria -- and Germany is Italy’s top trading partner.

North Korea Accuses South of ‘Hideous’ Abduction of Workers North Korea has accused South Korea of abducting its citizens in China, four days after South Korea said 13 workers at restaurant run by the North had defected.

North Korea said the abduction of its citizens was

an unacceptable provocation and it demanded their return.

“We sternly denounce the group abduction of the citizens of the DPRK as a hideous crime against its dignity and social system and the life and security

of its citizens,” the North’s KCNA news agency quoted a spokesman of its Red Cross Society as saying.

DPRK stand for the Democratic People’s Republic of Korea, the North’s official name.

India, US Reach Agreement on Sharing Military Logistics India and the United States have agreed in principle to share military logistics, the countries’ defense ministers said yesterday, as both sides seek to counter the growing maritime assertiveness of China.

Washington has for years urged New Delhi to sign a Logistics Support Agreement that allows the two militaries to use each other’s land, air and naval bases for resupplies, repair and rest.

India has had concerns that a logistics agreement would commit it to hosting U.S. troops at its bases, or draw it into a military alliance with the United States and undermine its traditional autonomy.

But after years of delays, the two sides said an agreement was in hand, although not yet

ready for signing.

“We have agreed in principle that all the issues are resolved,” U.S. Defense Secretary Ashton Carter told reporters in New Delhi after talks with his Indian counterpart, Manohar Parrikar.

The two sides would finalize the text of an agreement in coming weeks, Carter said.

Prime Minister Narendra Modi’s administration, faced with an assertive China expanding its influence in the South China Sea and into the Indian Ocean, has signaled its desire to draw closer to the United States. China is also a close ally of India’s arch rival, Pakistan.

Modi is also keen to access U.S. technology for his “Make in India” plans to build a domestic industrial base and cut expensive arms imports.

The U.S. military has made clear it wants to do more with India, especially in countering China. Carter is on his second visit to India in less than a year, aimed at cementing defense cooperation in the final months of Barack Obama’s presidency.

Washington’s desire for deeper security cooperation with India has been tricky without the signing of the logistics agreement, as well as two other pacts that would allow for secure communications and the exchange of nautical and other data. The agreements are considered routine between the United States and its other defense partners.

Reaching the logistics agreement would make it easier to conclude the other two pacts, a senior U.S. defense official said.

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T H I S D AY • WEDNESDAY APRIL 13, 2016

Nigeria’s top 50 stocks based on market fundamentals

11-Apr-16

8-Apr-16

% Change

Capitalisation

EPS

P/E

P/S

Div. Yld

Price/ Book Value

01 Dangote Cement Plc

160.90

169.00

-4.79%

2,741,817,641,464.50

10.64

15.98

5.89

4.71%

4.49

02 Nigerian Brew. Plc.

105.00

109.90

-4.46%

832,555,593,240.00

5.37

20.30

3.13

3.30%

5.07

03 Nestle Nigeria Plc.

675.00

675.00

0.00%

535,042,970,100.00

29.95

22.54

3.54

4.30%

14.08

14.00

14.30

-2.10%

412,036,509,136.00

3.38

4.18

1.81

12.53%

1.01

293.23

293.23

0.00%

381,926,533,832.69

4.45

65.92

3.06

1.18%

8.25

06 Lafarge Africa Plc.

75.00

75.00

0.00%

341,617,635,750.00

5.93

12.65

1.28

4.00%

1.94

07 Zenith Bank Plc

10.50

10.96

-4.20%

329,663,184,753.00

3.37

3.27

0.80

16.36%

0.58

08 Ecobank Transnational Incorporated

14.07

14.80

-4.93%

258,178,185,595.05

1.39

10.88

0.54

4.09%

0.74

09 Seplat Petroleum Dev. Co. Ltd.

310.30

310.30

0.00%

171,692,190,123.90

23.48

13.17

1.51

5.15%

0.61

10 Guinness Nig Plc

100.00

100.00

0.00%

150,588,818,800.00

0.78

128.49

3.02

0.00%

3.37

13.00

13.19

-1.44%

130,000,000,000.00

2.04

6.60

1.14

0.74%

1.20

12 FBN Holdings Plc

3.30

3.34

-1.20%

118,454,466,213.60

2.16

1.62

0.31

28.57%

0.22

13 United Bank for Africa Plc

3.08

3.24

-4.94%

111,740,941,071.76

1.64

1.95

0.37

18.75%

0.35

29.00

29.00

0.00%

109,715,591,250.00

0.32

92.02

1.85

0.17%

13.71

15 7-Up Bottling Comp. Plc.

147.00

147.00

0.00%

94,166,783,361.00

11.12

13.21

1.21

1.50%

3.92

16 P Z Cussons Nigeria Plc.

23.50

23.50

0.00%

93,306,210,557.50

1.10

21.42

1.29

5.53%

2.22

3.90

4.00

-2.50%

89,243,383,741.20

2.28

1.78

0.56

13.58%

0.32

18 International Breweries Plc.

20.00

20.00

0.00%

65,884,985,600.00

0.64

31.29

3.56

1.25%

5.47

19 Dangote Sugar Refinery Plc

5.30

5.35

-0.93%

63,600,000,000.00

0.96

5.51

0.63

9.43%

1.09

161.99

161.99

0.00%

58,412,826,491.38

13.51

11.99

0.91

4.44%

3.80

21 Julius Berger Nig. Plc.

43.00

43.00

0.00%

56,760,000,000.00

1.85

23.26

0.42

3.49%

2.34

22 Flour Mills Nig. Plc.

21.43

20.50

4.54%

56,237,402,917.41

1.84

10.62

0.16

10.23%

0.50

160.50

160.50

0.00%

54,493,254,838.50

11.92

13.22

0.26

8.88%

3.29

24 Oando Plc

4.06

4.05

0.25%

48,860,552,709.64

0.50

8.14

0.09

18.43%

0.31

25 Sterling Bank Plc.

1.60

1.60

0.00%

46,064,669,001.60

0.36

4.48

0.42

5.63%

0.48

26 Transnational Corporation Of Nigeria Plc

1.04

1.08

-3.70%

40,269,837,322.00

0.05

20.39

1.02

0.00%

0.47

27 Fidelity Bank Plc

1.32

1.38

-4.35%

38,246,732,070.36

0.48

2.81

0.27

11.85%

0.21

28 U A C N Plc.

19.40

19.40

0.00%

37,264,769,107.80

2.70

7.58

0.54

4.89%

0.53

29 Presco Plc

34.60

34.60

0.00%

34,600,000,000.00

3.28

10.55

3.05

0.29%

1.54

1.30

1.30

0.00%

30,108,505,658.40

0.92

1.42

0.16

23.08%

0.13

31 Glaxo Smithkline Consumer Nig. Plc.

24.97

24.97

0.00%

29,861,035,905.36

0.81

30.94

0.97

1.20%

2.26

32 Okomu Oil Palm Plc.

31.25

31.25

0.00%

29,809,687,500.00

2.76

10.79

2.92

0.34%

2.35

0.73

0.74

-1.35%

28,826,512,445.49

0.06

12.27

0.62

0.00%

0.62

34 Cadbury Nigeria Plc.

14.77

14.77

0.00%

27,741,044,130.80

3.21

4.61

0.82

8.80%

2.68

35 Cap Plc

38.50

38.50

0.00%

26,950,000,000.00

2.49

15.49

3.82

2.99%

17.73

36 Custodian And Allied Insurance Plc

4.15

4.05

2.47%

24,409,736,409.25

0.71

5.73

0.81

4.89%

0.92

37 Mansard Insurance Plc

1.95

1.86

4.84%

20,475,000,000.00

0.16

12.00

1.20

2.63%

1.15

38 National Salt Co. Nig. Plc

7.65

7.30

4.79%

20,268,203,591.70

0.79

9.00

1.17

7.69%

2.67

39 FCMB Group Plc.

0.95

0.98

-3.06%

18,812,575,216.30

0.24

4.08

0.13

10.20%

0.12

40 Skye Bank Plc

0.98

0.94

4.26%

13,602,695,381.80

0.85

1.12

0.10

31.25%

0.09

41 Honeywell Flour Mill Plc

1.35

1.41

-4.26%

10,705,766,838.30

0.14

9.98

0.23

11.35%

0.52

42 Continental Reinsurance Plc

0.99

0.95

4.21%

10,269,016,868.88

0.16

5.65

0.59

11.11%

0.62

43 Cement Co. Of North.Nig. Plc

7.03

7.03

0.00%

8,834,444,694.98

0.96

7.36

0.68

1.42%

0.87

44 Unity Bank Plc

0.69

0.66

4.55%

8,065,643,179.98

0.54

1.27

0.13

0.00%

0.09

45 UACN Property Development Co. Limited

4.17

4.17

0.00%

7,167,187,479.15

1.81

2.31

0.64

16.79%

0.22

46 Wapic Insurance Plc

0.50

0.50

0.00%

6,691,369,124.00

0.10

5.16

0.94

6.00%

0.45

47 Nigerian Aviation Handling Company Plc

3.89

3.89

0.00%

6,318,210,937.50

0.33

11.75

0.74

5.14%

1.04

48 Resort Savings & Loans Plc

0.50

0.50

0.00%

5,664,866,202.00

4.68

0.11

0.02

0.00%

1.89

49 AIICO Insurance Plc.

0.76

0.76

0.00%

5,266,955,404.80

0.28

2.89

0.17

6.25%

0.57

50 Fidson Healthcare Plc

2.12

2.34

-9.40%

3,180,000,000.00

0.50

4.72

0.43

2.14%

0.56

04 Guaranty Trust Bank Plc. 05 Forte Oil Plc.

11 Stanbic IBTC Holdings Plc

14 Unilever Nigeria Plc.

17 Access Bank Plc.

20 Mobil Oil Nig Plc.

23 Total Nigeria Plc.

30 Diamond Bank Plc

33 Wema Bank Plc.

TOTAL

7,845,470,126,017.58

TOTAL MARKET CAP

8,712,382,529,955.97

% OF MARKET CAP Annotation - MA* = Simple Moving Average

90.05%

Table 1 Market Statistics Mkt Indicators

Open 8-Apr-16

NSE All Share Index NSE Market Cap (N'Trillion)

25,328.07 8.71

24,649.39 8.48

-2.68 -2.68

103.64 8.07

100.76 7.85

-2.78 -2.78

Thisday BGL 50 Index Thisday BGL 50 Market Cap (N'Trillion)

Close Change % 11-Apr-16

Table 3 Top 5 Gainers Stock

Open 8-Apr-16

Mansard Insurance Plc National Salt Co. Nig. Plc Unity Bank Plc Flour Mills Nig. Plc. Skye Bank Plc

1.86 7.30 0.66 20.50 0.94

Close Change 11-Apr-16 % 1.95 7.65 0.69 21.43 0.98

4.84 4.79 4.55 4.54 4.26

Table 4 Top 5 Losers Stock

Open 8-Apr-16

Fidson Healthcare Plc United Bank for Africa Plc Ecobank Transnational Incorporated Dangote Cement Plc Nigerian Brew. Plc.

Close Change 11-Apr-16 %

2.34 3.24 14.80

2.12 3.08 14.07

-9.40 -4.94 -4.93

169.00 109.90

160.90 105.00

-4.79 -4.46

Market loses by 2.68% Market pulse on the Nigerian Stock Exchange (NSE) today – Tuesday, April 12, 2016 was bearish as the market closed red due to profit taking. This was further highlighted by negative performances from the NSE Sub sectors; Consumer Goods and Banking (Save Oil & Gas and Insurance). Trading activities decreased in volume as 225.29 million shares worth N750.23 million in 3,058 deals exchanged hands today. This is a decrease from the 264.69 million shares worth N1.31 billion in 3,033 deals carried out on Thursday. Topping in volume terms was Equity Assurance Plc, Fidelity Bank Plc and Guaranty Trust Bank Plc, while Guaranty Trust Bank Plc and Seplat Petroleum Dev. Co. Ltd. ended trading as the most active stocks in value terms.

The All Share Index (NSEASI) closed negative with a 2.68% (-678.38) decrease to 24,649.39 from 25,328.07 the previous trading day. Market Capitalization depreciated in tandem to N8.48 trillion from N8.71 trillion of prior trading day. The Thisday BGL 50 Index followed suit with 2.78% decrease to close at 100.76 from 103.64 the previous trading day, while its market capitalization stood at N7.85 trillion from N8.07 trillion of the previous trading day.

A total number of 14 stocks gained on the bourse today while 25 stocks declined, leaving 60 stocks unchanged. Mansard Insurance Plc emerged the toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 4.84% to close at N1.95 per share. It was followed NASCON Plc with a gain of 4.79% to close at N7.65 per share. Others on the gainers list include; Unity Bank Plc, Flour Mills Nig. Plc and Skye Bank Plc, while on the decliners’ list; Fidson Healthcare Plc led with a loss of 9.40% to close at N2.12 per share. It was followed by UBA Plc with a loss of 4.94% to close at N3.08 per share. Others on the losers list include; Ecobank Transnational Incorporated, Dangote Cement Plc and Nigerian Breweries Plc. REQUIRED DISCLOSURE This report has been prepared by BGL Plc. BGL Plc does and seeks to do business with companies covered in its research reports. As a result, the firm may have a conflict of interest that could affect the objectivity of this report. Investors should use this report as one of many other factors in making their investment decisions.

For more details go to www.thisdaylive.com

47

T H I S D AY • WEDNESDAY, APRIL 13, 2016

BUSINESS/MONEYGUIDE

Coronation Merchant Bank Targets Stronger Risk Rating Obinna Chima As part of its broad competitive strategy, the management of Coronation Merchant Bank has announced its commitment to strengthening the bank’s risk ratings. This declaration was made in a review of the bank’s operational strategy in Lagos recently.

“Risk management is one of the pillars of our operations and this awareness continues to influence our organisational disposition to risk management and corporate governance. As a bank, we presently maintain a 77.3 per cent capital adequacy ratio above the regulatory minimum of 10 per cent and subject our operations to very stringent risk management procedures,” said the bank’s managing director, Jimoh Abubakar said.

In line with its aspiration of becoming Africa’s premier investment bank, Coronation Merchant Bank seeks innovative strategies and avenues

for boosting its operational efficiency. These initiatives include the recruitment of highly skilled bankers with local and international experience to strengthen its various Strategic Business Unit(SBU’s) to deliver exceptional benefits to clients and other stakeholders.

For the financial year ended December 2015, the bank announced a profit before tax (PBT) of N2.33 billion, which is an increase of 43.7 per cent over last year’s figure of N1.62 billion, and the bank’s profit after tax (PAT) rose from N1.61 billion to N3.22 billion, representing a 100 per cent growth over the previous year’s figure.

Outside profitability and efficiency of the bank’s operations highlighted by the results, non-performing loans reduced to 0.4 per cent from 0.76 per cent of the bank’s total loan book in 2014.

This underscores the bank’s commitment to risk manage-

ment and effectiveness of its deployed strategy towards creating quality assets. The bank’s non-performing loan is distantly below the prudential guidance of five per cent which is a contributory justification for ‘A-’ Agusto risk rating.

In a related development, the bank’s chief operating officer, Onome Komolafe said that “In just one year, our assets base grew by 5.6 per cent to over N78 billion and a dividend payout of 10.5 kobo per share was announced. These developments are reflective of our institutional culture but more importantly were possible because we adhered to our risk guidelines.”

Coronation Merchant Bank is a full service Merchant Bank formed from erstwhile Associated Discount House. The bank commenced operations as a Merchant Bank in 2015 following CBN’s approval of conversion of the erstwhile Discount House licence to a merchant banking licence.

APR Plc Shareholders Receive N1.2bn Dividend Emmanuel Ugwu in Umuahia Shareholders of Africa Prudential Registrars (APR) Plc unanimously approved a total dividend of N1.2 billion for the year ended December 31, 2015. The translates to 60 Kobo per share.

The approvale was given at the Annual General Meeting held in Lagos yesterday. The company had paid an interim dividend of 17 kobo in August 2015 before the final dividend of 43 kobo.

APR Plc recorded N2.54 billion gross earnings ,, representing a 15 per cent growth from N2.20 billion in 2014. Likewise, the Profit Before Tax (PBT) for the period grew by 25 per cent from N1.3 billion in 2014 to N1.6 billion in 2015.

By the performance, expense only grew by a marginal one per cent from N904 million to N913 million. In a similar trend, basic earnings per share grew by 18 per cent from 61

Kobo to 72 Kobo.

Managing Director/CEO, Mr. Peter Ashade, assured all stakeholders that the company would always consider better business models in growing investors’ wealth.

“Our corporate objectives for the year 2015 was to better position our business to withstand the expected headwinds for the financial year by focusing on some key areas.

Our achievements in these key areas include: expansion in product offerings, improved cost optimization, more social media trendy, increased profitability, and consistent dividend pay-out” he explained.

In her statement to shareholders, Chairman of the company, Chief (Mrs.) Eniola Fadayomi explained that APR Plc has put strategy in place to provide clear direction for the deployment of its resources.

“The company’s vision is to create long-term and sustainable value for stakeholders in its chosen markets. In order to

realise this long-term objective, the company is making concerted effort to identify and take advantage of every investment opportunity that will complement its goals. “The Company will place particular emphasis on the deployment of its own software in order to maximise efficiency in the business” she added.

Shareholders commended the performance.

For instance, Dr. Umar Faruk of the Association for Advancement of Rights of Nigerian Shareholders lauded APR Plc for its laudable commitment to increasing shareholders’ wealth.

He noted that shareholders are very happy to have invested in the shares of the company.

APR Plc won a double award at the prestigious Pearl Awards in 2015.

In recognition of its impressive performance, the company was announced winner and presented with the Best Profit Margin Ratio, and Best Corporate Governance Awards.

Institute Commences Registration for Training Programme Natures Gentle Touch Hair Institute has commenced registration for its Basic Beginners training course that will start on April 18, 2016 in Lagos.

The programme, according to a statement from the organisation, provides beginners with theoretical and practical skills in Salon Business and Salon Management needed to establish a career in the beauty and personal style industry.

“In reality, a lot of women don’t get enough customer satisfaction from their hair salons thereby affecting customer loyalty. Our students are trained to offer solutions to these problems using all Natures Gentle Touch products.

They are empowered with the knowledge and skills to establish financial sustenance

in the beauty and personal care industry,” the Field Education Manager, Recare Limited, Daniel Komla said.

“The hair salon is a place where a lot women regain their confidence and attention.

In respective of their societal status and income level, women deserve to be pampered and have that sense of belonging they desire considering how much they spend on hair styling and maintenance,” he added.

The Basic Beginners training programme covers diverse courses ranging from professional development, salon ecology, electricity in cosmetology, chemistry of cosmetics, trichology, salon business, hair cutting, hair styling, hair coloring and chemical texturising, amongst others.

“Experienced hair stylists looking to hone their skills can also register for the two weeks training programme. The courses include hair cutting, professional hair styling, salon business and salon management,” it added.

The Natures Gentle Touch Hair Institute is home to one of Africa’s most prestigious academy of beauty and style.

The institute was established in 2006 by one of the leading researchers in African hair, skin and personal care, and manufacturers of the Natures Gentle Touch range of hair care products, Recare Limited. Since the institute was established, it has graduated over 200 students, some of whom have gone ahead to start off lucrative careers as professional stylists.

Marina street, Lagos

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

FEBRUARY 2016 Broad Money (M2)

20,489,166.72

-- Narrow Money (M1)

9,095,578.34

---- Currency Outside Banks

1,377,483.11

---- Demand Deposits

7,682,095.23

-- Quasi Money

11,429,588.38

Net Foreign Assets (NFA)

5,471,351.78

Net Domestic Assets(NDA)

15,017,814.94 22,414,322.75

-- Net Domestic Credit (NDC) ---- Credit to Government (Net)

3,424,029.62

---- Memo: Credit to Govt. (Net) less FMA

4,807,604.55

---- Memo: Fed. and Mirror Accounts (FMA)

1,383,574.93

---- Credit to Private Sector (CPS)

18,990,293.13

--Other Assets Net

7,396,507.81

Reserve Money (Base Money)

5,095,380.23

--Currency in Circulation

1,711,623.51

--Banks Reserves

3,383,756.72 • Source - CBN

MANAGED FUNDS Initial Price (N) Stanbic Balanced Fund

Buying Price(N)

Selling Price

1,660.29

1,685.29

Stanbic IBTC NEF

1,000.00

11,002.32

11,326.67.11

Stanbic SIBond

20

120.47

120.47

Stanbic IBTC Ethical

1

1.10

1.13

Stanbic IBTC GIF

142.90

143.38

UBA Balanced Fund

1.2563

1.2493

UBA Bond Fund

1.3443

1.3443

UBA Equity Fund

0.8205

0.8074

UBA Money Market Fund

1.1510

1.1510

ARM Aggressive Growth Fund

N13.0544

N13.4480

ARM Discovery Fund

N288.2515

N296.9425

ARM Ethical Fund

N22.5268

N23.2060

ARM Money Market Fund

13.1030 (Yield % ) • Monetary Policy Rate - 13%

OPEC DAILY BASKET PRICE AS AT MONDAY, 11 APRIL 2016 The price of OPEC basket of thirteen crudes stood at $37.02 a barrel on Monday, compared with $36.01 the previous Friday, according to OPEC Secretariat calculations.

The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Minas (Indonesia), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

SOURCE: OPEC headquarters, Vienna

48

T H I S D AY • WEDNESDAY, APRIL 13, 2016

MARKET NEWS

Onyema: Nigeria Remains Investors’ Best Choice in Africa Goddy Egene and Eromosele Abiodun The Chief Executive of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema has stated that despite the rigidity in the foreign exchange market, Nigeria remains top of investors’ choice on the African continent.

He made this know while speaking at the NSE/ London

Stock Exchange (LSE) conference held in Lagos yesterday.

The NSE boss said the conference with the theme, “Leveraging Cross-Border Capital Markets for Sustainable Growth,“ is topical for Nigeria at this time as the government grapples with the task of articulating a clear economic blue print for the short to midterm within which

T H E Daily Summary (Equities) Activity Summary on Board EQTY AGRICULTURE Crop Production OKOMU OIL PALM PLC. PRESCO PLC Crop Production Totals Livestock/Animal Specialties LIVESTOCK FEEDS PLC. Livestock/Animal Specialties Totals AGRICULTURE Totals CONGLOMERATES Diversified Industries JOHN HOLT PLC. TRANSNATIONAL CORPORATION OF NIGERIA PLC U A C N PLC. Diversified Industries Totals CONGLOMERATES Totals CONSTRUCTION/REAL ESTATE Infrastructure/Heavy Construction JULIUS BERGER NIG. PLC. Infrastructure/Heavy Construction Totals Real Estate Development UACN PROPERTY DEVELOPMENT CO. LIMITED Real Estate Development Totals CONSTRUCTION/REAL ESTATE Totals CONSUMER GOODS Automobiles/Auto Parts DN TYRE & RUBBER PLC Automobiles/Auto Parts Totals Beverages--Brewers/Distillers CHAMPION BREW. PLC. GUINNESS NIG PLC INTERNATIONAL BREWERIES PLC. NIGERIAN BREW. PLC. Beverages--Brewers/Distillers Totals Beverages--Non-Alcoholic 7-UP BOTTLING COMP. PLC. Beverages--Non-Alcoholic Totals Food Products DANGOTE FLOUR MILLS PLC DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. NASCON ALLIED INDUSTRIES PLC Food Products Totals Food Products--Diversified CADBURY NIGERIA PLC. NESTLE NIGERIA PLC. Food Products--Diversified Totals Household Durables VITAFOAM NIG PLC. VONO PRODUCTS PLC. Household Durables Totals Personal/Household Products P Z CUSSONS NIGERIA PLC. UNILEVER NIGERIA PLC. Personal/Household Products Totals CONSUMER GOODS Totals FINANCIAL SERVICES Banking ACCESS BANK PLC. DIAMOND BANK PLC ECOBANK TRANSNATIONAL INCORPORATED FIDELITY BANK PLC GUARANTY TRUST BANK PLC. SKYE BANK PLC STERLING BANK PLC. UNITED BANK FOR AFRICA PLC UNION BANK NIG.PLC. UNITY BANK PLC WEMA BANK PLC. Banking Totals Insurance Carriers, Brokers and Services AIICO INSURANCE PLC. CONTINENTAL REINSURANCE PLC CONSOLIDATED HALLMARK INSURANCE PLC AXAMANSARD INSURANCE PLC MUTUAL BENEFITS ASSURANCE PLC. N.E.M INSURANCE CO (NIG) PLC. NIGER INSURANCE CO. PLC. STANDARD ALLIANCE INSURANCE PLC. WAPIC INSURANCE PLC Insurance Carriers, Brokers and Services Totals Micro-Finance Banks NPF MICROFINANCE BANK PLC Micro-Finance Banks Totals Mortgage Carriers, Brokers and Services ASO SAVINGS AND LOANS PLC Mortgage Carriers, Brokers and Services Totals Other Financial Institutions AFRICA PRUDENTIAL REGISTRARS PLC CUSTODIAN AND ALLIED PLC FCMB GROUP PLC. STANBIC IBTC HOLDINGS PLC UBA CAPITAL PLC Other Financial Institutions Totals FINANCIAL SERVICES Totals HEALTHCARE Medical Supplies MORISON INDUSTRIES PLC. Medical Supplies Totals Pharmaceuticals EVANS MEDICAL PLC. FIDSON HEALTHCARE PLC GLAXO SMITHKLINE CONSUMER NIG. PLC.

No. of Deals 21 7 28 No. of Deals 9 9 37

Current Price 29.02 30.5

No. of Deals 1 153 25 179 179

credible fiscal and monetary policies can emerge, and diversifying the economy in the face of depressed earnings from legacy sources, the reality of the need to leverage and embrace the globalisation of economies and financial markets becomes clearer.

Capital Markets, he stated, are critical to sustainability of growth and development in

N I G E R I A N

Quantity Traded 214,470 15,136 229,606 Quantity Traded 54,710 54,710 284,316

Value Traded 6,118,008.70 470,794.72 6,588,803.42 Value Traded 87,958.70 87,958.70 6,676,762.12

Current Price 0.96 1.81 26.48

Quantity Traded 800 15,897,539 168,773 16,067,112 16,067,112

Value Traded 736 28,880,042.50 4,479,769.21 33,360,547.71 33,360,547.71

No. of Deals 9 9 No. of Deals 17 17 26

Current Price 38.81

Quantity Traded 20,300 20,300 Quantity Traded 47,658 47,658 67,958

Value Traded 749,395.00 749,395.00 Value Traded 325,759.45 325,759.45 1,075,154.45

No. of Deals 4 4 No. of Deals 12 83 3 116 214 No. of Deals 17 17 No. of Deals 12 23 88 28 151 No. of Deals 21 42 63 No. of Deals 7 2 9 No. of Deals 35 42 77 535

Current Price 0.5

Quantity Traded 50,000 50,000 Quantity Traded 328,100 297,453 15,900 8,938,088 9,579,541 Quantity Traded 6,842 6,842 Quantity Traded 17,907 73,395 1,288,340 2,418,589 3,798,231 Quantity Traded 38,749 304,610 343,359 Quantity Traded 20,900 13,500 34,400 Quantity Traded 508,660 372,366 881,026 14,693,399

Value Traded 25,000.00 25,000.00 Value Traded 1,358,784.00 36,953,070.74 249,495.00 1,264,674,274.58 1,303,235,624.32 Value Traded 1,349,215.80 1,349,215.80 Value Traded 44,237.06 488,919.50 27,241,523.28 16,948,258.99 44,722,938.83 Value Traded 763,471.65 253,158,701.81 253,922,173.46 Value Traded 106,257.00 11,885.00 118,142.00 Value Traded 12,280,143.58 14,403,116.88 26,683,260.46 1,630,056,354.87

No. of Deals 167 20 72 52 228 39 31 204 20 6 31 870 No. of Deals 5 5 3 2 1 9 1 1 6 33 No. of Deals 3 3 No. of Deals 3 3 No. of Deals 24 4 76 22 41 167 1,076

Current Price 4.6 2.62 18.6 1.42 23.09 1.99 2.05 3.5 5.8 1.36 0.97

Quantity Traded 12,748,219 236,127 3,273,580 2,319,164 20,349,986 2,981,858 309,388 28,540,652 299,075 753,475 3,875,172 75,686,696 Quantity Traded 103,000 2,710,500 18,453,500 8,000 4,800 979,251 350,000 2,000 358,000 22,969,051 Quantity Traded 95,300 95,300 Quantity Traded 34,000 34,000 Quantity Traded 251,397 5,045,000 10,544,815 10,960,359 1,231,315 28,032,886 126,817,933

Value Traded 59,983,231.95 621,724.27 59,454,717.13 3,259,514.96 474,012,702.83 5,929,197.47 612,612.30 101,580,170.64 1,685,138.40 1,024,726.00 3,623,453.66 711,787,189.61 Value Traded 91,110.00 2,579,975.00 9,226,750.00 20,520.00 2,400.00 685,723.21 175,000.00 1,000.00 179,000.00 12,961,478.21 Value Traded 93,500.00 93,500.00 Value Traded 17,000.00 17,000.00 Value Traded 658,593.95 21,185,750.00 21,278,197.20 207,715,699.63 1,615,894.95 252,454,135.73 977,313,303.55

No. of Deals 2 2 No. of Deals 5 9 13

Current Price 1.73

Quantity Traded 9,560 9,560 Quantity Traded 44,000 103,960 108,845

Value Traded 15,774.00 15,774.00 Value Traded 24,730.00 353,462.90 3,986,886.80

Current Price 1.6

Current Price 7.03

Current Price 4.35 125 16 136.85 Current Price 196 Current Price 2.55 6.92 21.16 7 Current Price 20.15 825.01 Current Price 5.33 0.92 Current Price 24 38.68

Current Price 0.85 1 0.5 2.65 0.5 0.7 0.5 0.5 0.5 Current Price 0.98 Current Price 0.5 Current Price 2.65 4.2 1.96 18.91 1.32

Current Price 0.56 3.41 38.2

an Economy.

“It is my strong belief that one of the things that Nigeria (and Africa) needs to sustain its growth, is a solid and vibrant capital market ecosystem that will attract investment and unlock the potential that exists in the economy. Capital markets increase the proportion of longterm savings that is channelled to long-term investments.

STO C K

“Based on current outlook for Economies and Markets of the G7 countries, only the economies of the United States and United Kingdom appear on track to have sustainably exited the global financial crisis of 2008. Why are The United Kingdom (UK) and The United States (US) ahead? One of the key differentiating factors these two markets have in common,

relative to the others, is a strong and resilient capital market/ financial system, “he said.

Onyema added Also speaking, the Chief Executive Officer and Director of International Development, LSE, Nikkil Rathi, said the LSE partnership with the NSE will ensure that Nigerian companies are exposed to global capital market.

E XC H A N G E

MAY & BAKER NIGERIA PLC. NEIMETH INTERNATIONAL PHARMACEUTICALS PLC Pharmaceuticals Totals HEALTHCARE Totals ICT Computer Based Systems COURTEVILLE BUSINESS SOLUTIONS PLC Computer Based Systems Totals ICT Totals INDUSTRIAL GOODS Building Materials ASHAKA CEM PLC BERGER PAINTS PLC CAP PLC CEMENT CO. OF NORTH.NIG. PLC FIRST ALUMINIUM NIGERIA PLC PORTLAND PAINTS & PRODUCTS NIGERIA PLC LAFARGE AFRICA PLC. Building Materials Totals Electronic and Electrical Products CUTIX PLC. Electronic and Electrical Products Totals INDUSTRIAL GOODS Totals OIL AND GAS Integrated Oil and Gas Services OANDO PLC Integrated Oil and Gas Services Totals Petroleum and Petroleum Products Distributors CONOIL PLC ETERNA PLC. FORTE OIL PLC. MOBIL OIL NIG PLC. TOTAL NIGERIA PLC. Petroleum and Petroleum Products Distributors Totals Exploration and Production SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD Exploration and Production Totals OIL AND GAS Totals SERVICES Automobile/Auto Part Retailers R T BRISCOE PLC. Automobile/Auto Part Retailers Totals Courier/Freight/Delivery RED STAR EXPRESS PLC TRANS-NATIONWIDE EXPRESS PLC. Courier/Freight/Delivery Totals Printing/Publishing LEARN AFRICA PLC STUDIO PRESS (NIG) PLC. UNIVERSITY PRESS PLC. Printing/Publishing Totals Road Transportation ASSOCIATED BUS COMPANY PLC Road Transportation Totals Transport-Related Services NIGERIAN AVIATION HANDLING COMPANY PLC Transport-Related Services Totals Support and Logistics CAVERTON OFFSHORE SUPPORT GRP PLC Support and Logistics Totals SERVICES Totals EQTY Board Totals Daily Summary (Equities) Activity Summary on Board ASeM CONSTRUCTION/REAL ESTATE Property Management SMART PRODUCTS NIGERIA PLC Property Management Totals CONSTRUCTION/REAL ESTATE Totals CONSUMER GOODS Food Products MCNICHOLS PLC Food Products Totals CONSUMER GOODS Totals ASeM Board Totals Daily Summary (Equities) Activity Summary on Board PREMIUM FINANCIAL SERVICES Banking ZENITH INTERNATIONAL BANK PLC Banking Totals Other Financial Institutions FBN HOLDINGS PLC Other Financial Institutions Totals FINANCIAL SERVICES Totals INDUSTRIAL GOODS Building Materials DANGOTE CEMENT PLC Building Materials Totals INDUSTRIAL GOODS Totals PREMIUM Board Totals Equity Activity Totals Daily Summary (ETP) Exchange Traded Fund Name LOTUS HALAL EQUITY ETF NEWGOLD EXCHANGE TRADED FUND (ETF) VETIVA BANKING ETF VETIVA CONSUMER GOODS ETF VETIVA GRIFFIN 30 ETF VETIVA INDUSTRIAL ETF Exchange Traded Fund Totals ETF Board Totals ETP Activity Totals

5 1 33 35

1.18 1.03

148,000 900 405,705 415,265

175,360.00 900 4,541,339.70 4,557,113.70

No. of Deals 1 1 1

Current Price 0.5

Quantity Traded 20,000 20,000 20,000

Value Traded 10,000.00 10,000.00 10,000.00

No. of Deals 9 16 6 3 1 2 32 69 No. of Deals 1 1 70

Current Price 23 9.77 38 7.93 0.5 3.37 96.01

Quantity Traded 19,672 1,051,839 2,350 17,500 250 10,000 1,319,083 2,420,694 Quantity Traded 2,000 2,000 2,422,694

Value Traded 437,562.40 9,504,976.40 89,547.65 140,000.00 125 34,130.00 126,494,566.72 136,700,908.17 Value Traded 3,200.00 3,200.00 136,704,108.17

No. of Deals 127 127 No. of Deals 4 1 43 2 22 72 No. of Deals 10 10 209

Current Price 6.01

Quantity Traded 5,830,869 5,830,869 Quantity Traded 2,200 7,000 110,662 377 32,340 152,579 Quantity Traded 4,634 4,634 5,988,082

Value Traded 35,044,142.69 35,044,142.69 Value Traded 57,288.00 11,830.00 31,544,246.42 55,155.10 4,687,850.58 36,356,370.10 Value Traded 1,066,595.40 1,066,595.40 72,467,108.19

No. of Deals 4 4 No. of Deals 3 3 6 No. of Deals 6 2 1 9 No. of Deals 1 1 No. of Deals 11 11 No. of Deals 1 1 32 2,200

Current Price 0.53

Quantity Traded 501,144 501,144 Quantity Traded 41,066 6,400 47,466 Quantity Traded 315,800 1,000 833 317,633 Quantity Traded 117,500 117,500 Quantity Traded 190,937 190,937 Quantity Traded 50 50 1,174,730 167,951,489

Value Traded 265,583.44 265,583.44 Value Traded 176,583.80 7,628.00 184,211.80 Value Traded 205,270.00 2,190.00 4,539.85 211,999.85 Value Traded 58,750.00 58,750.00 Value Traded 766,503.90 766,503.90 Value Traded 145 145 1,487,193.99 2,863,707,646.75

No. of Deals 1 1 1

Current Price 0.98

Quantity Traded 5,000 5,000 5,000

Value Traded 5,100.00 5,100.00 5,100.00

No. of Deals 3 3 3 4

Current Price 1.2

Quantity Traded 482,000 482,000 482,000 487,000

Value Traded 554,280.00 554,280.00 554,280.00 559,380.00

No. of Deals 196 196 No. of Deals 335 335 531

Current Price 17.6

Quantity Traded 21,927,068 21,927,068 Quantity Traded 15,346,582 15,346,582 37,273,650

Value Traded 383,409,061.87 383,409,061.87 Value Traded 79,828,325.23 79,828,325.23 463,237,387.10

No. of Deals 38 38 38 569 2,773

Current Price 163.03

Quantity Traded 306,347 306,347 306,347 37,579,997 206,018,486

Value Traded 50,069,934.72 50,069,934.72 50,069,934.72 513,307,321.82 3,377,574,348.57

No. of Deals 1 1 1 1 4 1 9 9 9

Current Price 9.44 2,193.00 3.08 7.47 13.34 21.03

Quantity Traded 10 52 10 10 40 10 132 132 132

Value Traded 94.4 114,036.00 30.8 74.7 533.9 210.3 114,980.10 114,980.10 114,980.10

Current Price 1.68

Current Price 27.41 1.61 290 154 150.01 Current Price 230.04

Current Price 4.3 1.14 Current Price 0.65 2.3 5.73 Current Price 0.5 Current Price 4.02 Current Price 3.05

Current Price 5.1

WEDNESDAY APRIL 13, 2016 • T H I S D AY

49

NEWSEXTRA

Fashola, Elumelu Call for S’East Integration as Enugu Investment Summit Kicks off Christopher Isiguzo in Enugu

Nigeria. The zone must think alike.

As we speak, there should be a The maiden Enugu Investment railway connecting Enugu and Summit kicked off yesterday with other states in the zone. The zone an array of prospective investors must be able to take advantage from Europe, Asia and other of its comparative advantage African countries showing serious over other zones. The market is presence, even as most speakers, there for you to take. With coal including Minister of Power, in Enugu, and markets in Nnewi, Works and Housing, Babatunde Onitsha, Aba, Abakaliki, you just Fashola and renowned banker, need to sit together and provide Tony Elumelu, canvassing for the support that private sector South-east economic integration. needs,” he satated The three-day summit with While expressing hopes that the theme: ‘Beyond Oil: Fostering the session would go beyond Inclusive Economic Growth and just talking, Elumelu said before Sustainable Development’, which massive investments would kicked off at the Michael Okpara take place, it is necessary for Square, Enugu, attracted foreign the enabling environment to be and local investors, Consul put in place which would include General of the Embassy of France attractive incentives devoid of in Nigeria, Laurent Polonceaux; multiple taxation. the Nigerian Director of a French “The zone must leverage on Group known as Proparco, Olivier its competitive advantage. Ghana Follin; the Irish Ambassador to is now a regional hub because they Nigeria, Mr. Sean Hoy, as well as set the right incentives. We must director of an Irish organisation, focus on technical and vocational Sustainable Food Systems Ireland. training. Stop building stadia and Others were members of a invest in more valuable ventures. conglomerate made up of Chinese, We must make laws that help Singaporeans and Nigerians give enabling environment like known as Fit Consult/Yuanda harmonisation of taxes against Group, including Mr. Wang Yijun multiple taxation. Wealthy Igbo of Yuanda Group, Chief Loretta People should invest in industry Aniagolu; Mr. Wang Xingjun, Mr. and infrastructure, train young Jiang Xin, Mr. Ronnie Tan all of people and forget about having the Yuanda, Mr. Paschal Dozie of fat bank accounts.

MTN, Samuel Onyeishi of Peace “The gathering is not an end Mass Transit, Ugochukwu Chime but means to an end. Governor of ECCIMA, among others.

Ifeanyi Ugwuanyi of Enugu In a keynote address at the State should occupy his place in event, Elumelu said there was history by rallying his colleagues to need for governors of the five achieve the much needed economic South-east states to harmonise integration for the zone. This is economic policies in order to attract the commencement of a new the much-needed investments to paradigm in economic integration the zone. in Nigeria. By the time you get a “There ought to be medium- wider eastern market, you will term economic focus for eastern see other parts of Nigeria keying

Murtala Foundation to Facilitate Rebuilding of Government School Chibok Daji Sani in Yola The Murtala Muhammed Foundation (MMF) has assured the Chibok community of its commitment to work with government to facilitate the rebuilding of Government Secondary School, Chibok, Borno State which was destroyed by Boko Haram two years ago.

The Chief Executive Officer of the foundation, Aisha MuhammedOyebode, made this known in Chibok while addressing the parents of Chibok girls in preparation for tomorrow’s event to mark the second anniversary of the abduction of Chibok Girls by Boko Haram.

Over 200 school girls of the school were abducted by the Boko Haram terrorists on April 14, 2014, and till date the girls are yet to be found.

“Rebuilding this school will be a symbol that your community remains resilient in the face of this adversity. We have to bring back our girls and we have to bring back our schools,” MuhammedOyebode said.

She further explained that since normalcy was gradually returning to the areas, it was important that the younger ones resume school as soon as possible.

Muhammed-Oyebode said the foundation was concerned about the plight of people and

was working in collaboration with the Ministry of Women Affairs to mark the second anniversary of the abduction of the school girls in Chibok.

While responding to the foundation, the Chairman of the Chibok community, Mr. Yakubu Nkeki, lauded the association and all Nigerians for the show of solidarity to the people of Chibok.

Nkeki also lauded government for enhanced security in Chibok and other parts of North-east in general, adding that it was a relief to them that Chibok was never allowed to be occupied by the insurgents.

“Despite what happened to us, we are grateful to the government because our community was never occupied by Boko Haram,” Nkeki said.

He noted that the coming of government officials to Chibok tomorrow for the second anniversary was a welcome development that would provide the community the opportunity to interact with them on issues.

The event, which took place at the Government Secondary School, Chibok, was symbolic as it was the first time the parents of the abducted girls and other members of the community entered the premises of the school since it was placed out of bound by security operatives about a year ago.

into this initiative,” he said, while pledging to attract investments to the state.

On his part, the Minister of Power, Works and Housing, Babatunde Fashola, who was represented by Mr. Ayo Gbeleyi, said while the state was shopping for foreign investors, it was also necessary for the local investors to be carried along, describing them as more “dependable partners at all times.”

He said: “The most important investor for your private-public partnership (PPP) is the home investor. While it is helpful to attract and secure the big multi-billion naira investor, they are usually not many enough to create the inclusion that you need.

It is the small business that are

most important.

“Barbers, pepper grinders, food processors, beer parlors, small food joints, markets and shopping complex, schools, small clinics, dentists, diagnostic centres , petrol stations, pharmacies, etc.

“The list is long and they are your most important partners in securing inclusion through a vibrant economy built on public, private, people partnership. They are the wheels that will drive ‘Oganiru’,” he noted.

In his remarks before declaring the summit open, Ugwuanyi said the theme of the event amply reflects the compelling need for deliberate policy shifts that would enable us as a nation, to recover quickly from the crushing effects of the current developments in the

oil market (upon which we had depended for so long) and open up new and even more profitable and sustainable pedestals for rapid economic development.

“Being mindful of this undisputable fact, I had, in my inaugural address, made a firm promise to do whatever would be necessary and within our means, to turn the present economic challenges facing the nation into huge blessings for Enugu State. I did in fact state that, if former President Franklin Roosevelt could lead America out of the great depression, and if President Barack Obama could lead Americans out of the economic melt-down, we can do the same for Enugu State,” he said.

According to him, upon

assumption of office last year, it was discovered that unlike their predecessors who enjoyed access to excess crude funds, they had less to work with hence the resort to demand for bailouts from the federal government.

“It was therefore instantly clear to us that we needed to think outside the box if we must survive just like our founding fathers in the old Eastern region who developed and relied on palm and other agricultural produce to build key infrastructure and other social amenities in the region. We knew that we only needed to view the current situation as another great opportunity to look inwards and harness those potentials which free oil money had blinded us from exploiting all the while,” Ogwuanyi said.

A BOOST FOR STOCK MARKET

L-R: Executive Director, Stanbic IBTC Bank Plc, Ms Yewande Sadiku; Chief Executive Officer, Nigerian Stock Exchange (NSE), Mr. Oscar N. Onyema; Director General, National Pension Commission (PENCOM), Mrs. Chinelo Anohu-Amazu; and Chief Executive Officer, London Stock Exchange (LSE), Mr. Nikhil Rathi, at the second NSE/LSEG dual listings conference in Lagos...yesterday

Three Oil Flow Stations Threatened as Niger Delta Communities Fight Saipem Chineme Okafor in Abuja Disagreements over alleged contractual irregularities between communities in Niger Delta and Italian oil contracting firm, Saipem, may result in the disruption of crude oil flow at the three flow stations located at Beniseide, Tunu and Ogbotobo, THISDAY has learnt.

The development it was gathered yesterday could also disrupt operations in Nigeria’s oil and gas industry following a call on the Shell Petroleum Development Company of Nigeria (SPDC) by the communities to stop contracting Saipem to handle its oil and gas projects within their areas.

The communities, which said they do not want the Saipem Consortium to henceforth operate within their areas, alleged that the company had perpetrated contractual illegalities and fraudulent practices in its dealings with them while undertaking its contract on three gas plant projects technically referred to as SSAGS+, on behalf of SPDC. They said as the host of the Beniseide, Tunu and Ogbotobo Flow Stations they would disrupt production flows if their grievances

are not addressed by SPDC which they have asked to disengage Saipem from the project site.

The spokesman of the communities, Pere-ebibo Cinema Fufeyin, told journalists in Abuja that youths of the various communities were already mobilising to take their protest to the Embassies of the United Kingdom and Italy in Abuja, against the continued presence of Saipem in their area.

Fufeyin said the communities were contesting alleged contractual illegalities and fraudulent practices by the Saipem in its dealings with them.

He specifically said despite several complaints by the communities over the flagrant disregard and subversion of agreements guiding its operations in their area, including Memorandum of Understanding (MoUs) and Freedom to Operate (FTOs), Saipem had allegedly continued to front one Kenneth Oboku who takes up all the sub-contracts meant for the host communities.

According to him, Saipem had also ignited several intra-communal crises in all communities where it operated. Such crisis he explained

had occasionally led to violent clashes.

“Prior to the commencement of the project, an agreement was reached, officially documented and signed by representatives of the various communities, SPDC and Saipem Consortium.

“The agreement specifically outlined the community/contractor’s commitments to enable smooth implementation of the projects,” said Fufeyin.

He stated that the communities had in the letters of the agreements, committed to assist SPDC in removing all structures on its acquired land around the flow stations to allow for smooth construction works by Saipem Consortium. He added that the commitment has since been fulfilled but the contractor failed to fulfill its end of the agreement.

According to him, “SPDC/ Saipem as part of the contractor’s responsibilities, agreed and expressed commitment to ensure that sub-contracting opportunities for the supply of materials and the provision of services as required by the SPDC contractors for the project activities will be awarded only to

qualified indigenous contractors.

“Apart from drawing a list of 10 sub-contract opportunities to be mandatorily preserved as indigenous lots, it was also emphasised as part of the contractor’s commitments, that qualified community contractors registered with Saipem Consortium Nigeria Limited (SCNL) will also be allowed to tender via competitive bids with other non-community contractors for services/supplies not stated on the exclusive indigenous list as may be required in the course of executing the project, and that the contractor shall solicit the supply of equipment from the communities in all cases where such equipment are not consortium owned.”

Fufeyin further explained that these were among other commitments made in line with the statutory local content regulation of the federal government in which the contractor committed itself to source 100 per cent and 60 per cent of unskilled and semiskilled workers respectively, and as well liaising with the leaders of the communities to source for some skilled workers in the project area.

50

WEDNESDAY APRIL 13, 2016 • T H I S D AY

NEWSEXTRA

Africa Spends $35.4bn on Food Imports Annually, Says AfDB Crusoe Osagie Worried about the staggering annual food importation bill in the continent of over $35 billion, especially the commodities for which there is comparative advantage, the Africa Development Bank (AfDB) yesterday called on development partners to rise up to the challenge of achieving a zero per cent importation of food in Africa.

The Director,Agriculture andAgroIndustry Department, AfDB, Dr. Chiji Ojukwu, said out of the amount used for food importation in Africa, Nigeria accounts for about $12 billion on a annual basis.

According to him, if urgent steps are not taken to reverse the trend, the figure is expected to rise to about $110 by 2025.

Ojukwu during the International Institute of Tropical Agriculture (IITA) three-day workshop to discuss a new initiative known as “Africa feeding Africa” in Ibadan, said to achieve the Agricultural Transformation Agenda (ATA) for the continent, over $400 billion needs to be invested in the next decade.

“This means that an annual investment of over $40 billion will be required to achieve ATA and

this investment has the opportunity to unlock over $85 billion annual benefit for the continent in the next decade,” he said.

He warned that there was an urgent need to mobilise funds to finance the investment, maintaining that as a result of the urgent need, the development institution has plans to increase its annual lending to the continent’s agricultural sector from $1 billion to $2.4 billion.

He advised that governments of Africa must raise their revenue allocation from three per cent to three per cent, while commercial banks must also play active roles to raise funds for Africa to feed itself through agriculture.

According to him, 420 million people in Africa live below $1.25 per day, projecting that the figure is expected to rise to about 550 million by 2025.

“About 33 per cent of African children live in chronic hunger, 40 million under the age of five years have stunted growth, while child malnutrition in Africa economically impacts two to 16 per cent of the continent’s annual Gross Domestic Product (GDP). Our vision is to get over 320 million people out of malnutrition by 2025,” he said.

The Minister of Agricultural and

Foreign Affairs Minister Condemns Defamatory Article on Swiss Envoy

Says Nigeria, Switzerland enjoy cordial relations Jaiyeola Andrews in Abuja The Minister of Foreign Affairs, Geofrey Onyeama, has condemned the defamatory article on Ambassador of Switzerland to Nigeria, Eric Mayooraz.

He said Nigeria and Switzerland enjoy cordial relations.

A National Daily had reported that the federal government was investigating claims that Mayooraz was residing in the Nigeria with his gay partner.

The reports also alleged that the envoy arrived Nigeria in 2015 along with his alleged husband, a Brazilian identified simply as Mr. Carlos.

But in a statement by Onyeama, he said “the

government has learned with shock and dismay of a defamatory article in a Nigerian newspaper against the Ambassador of the Swiss Confederation to Nigeria.

“I wish to state categorically that the government has no knowledge whatsoever of any of the matters discussed in the article and could therefore not have authorised anyone to speak on its behalf in respect of them.

“With regard to the defamatory article, the government has ordered an investigation and appropriate measures will be taken for any wrongdoing.

“It is to be emphasised that Nigeria and Switzerland enjoy very cordial relations.”

FG Suspends Verification Exercise for Directorate Level Officers Jaiyeola Andrews in Abuja In view of the scope and thoroughness required, the verification exercise of directorate level officers in the Federal Public Service organised by the Office of the Head of the Civil Service of the Federation (HoSF) has been suspended.

A new date, according to a statement by Assistant Director (Media Relations) in HoS office, Mohammed Manga, is to be

fixed later.

“The exercise is designed to produce accurate bio-data of this level of officers for informed leadership and succession planning in the federal public service.

“The first phase of the exercise was to be limited to officers in the core federal civil service (ministries), while the second phase will involve officers in parastatals and other government establishments,” the statement read.

Rural Development, Mr. Audu Ogbeh, said concerted efforts were being made to re-engineer the nation’s agricultural sector to achieve food security and also make the sector competitive using areas where the nation has comparative advantages.

The minister who was represented by the Director, External Service, Federal Ministry of Agriculture and Rural Development, Mr. Alphonsus Onwuemeka, noted that the dwindling global oil prices creates opportunities for

the untapped areas of Nigeria’s agricultural sector capable of turning around the sector.

He said the nation’s agricultural extension services are in deplorable state, saying that plans are underway to make extensions services in the country a one-stop shop department taking cognisance of global best practices.

Earlier, the Director General, IITA, Dr. Nteranya Saginga, said the goal of the Technologies for African Agricultural Transformation (TAAT) programme includes

eliminating extreme poverty, ending hunger and malnutrition, achieving food sufficiency and turning Africa into a net food exporter as well as setting Africa in step with global commodity and agricultural value chains.

He said adopting modernised, commercial agriculture is the key to transforming Africa and the livelihoods of its people, particularly the rural poor.

To carry out these objectives, he added that the AfDB working with IITA and other development

partners, have identified eight priority agricultural value chains relating to rice sufficiency, cassava intensifaction, Sahelian food security, savannas as breadbaskets, restoring tree plantations, expanding horticulture, increasing wheat production and expanded fish farming.

“The TAAT programme is a critical strategy for transforming agriculture on the continent that would ensure that Africa is able to feed itself through agriculture,” he added.

IN SEARCH OF INVESTMENT IN CHINA

L-R: Chiahemba Ayom, Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, SBM Chairman, Songke Yang, at a ceremony in Shanghai, China . . . yesterday

Taraba: Fulani Herdsmen Kill 44 in Fresh Attacks

LGs Are Corrupt, Ineffective, Says Osinbajo

Wole Ayodele inJalingo

Seriki AdinoyiinJos

No fewer than 44 persons have been killed in fresh attacks by Fulani herdsmen in Gashaka and Bali Local Government Areas of Taraba State.

Besides, over 100 people who managed to escaped death by the whisker have been displaced and rendered homeless by the herdsmen.

This is coming just as the state Police Commissioner, Mr. Shaba Alkali, told journalists that the Inspector General of Police (IG), Mr. Solomon Arase, has approved the deployment of 60 mobile policemen from Yola in Adamawa State to Taraba to complement the officials on ground to arrest the situation.

The Senior Special Assistant to Taraba State Governor on Media and Publicity, Mr. Sylvanus Giwa, who confirmed the killings in a statement made available to journalists in Jalingo yesterday said 20 people were killed at Angai village while nine other people were killed at Maisuma village.

Similarly, according to the statement, nine people were killed at Dorei village by the herdsmen just as seven others were killed at Fali village.

According to the statement, trouble started when the armed herdsmen attempted to rape a lady in the community and were met

with resistance by the neighbours.

The statement further noted that angered by the community’s resistance, the herdsmen proceeded to unleash terror on the people in the communities in the area killing 44 persons in the process while displacing over 100 others.

Giwa noted that the state Governor, Darius Ishaku, was deeply concerned about the development as it was a serious setback to his efforts to resettle the internally displaced persons in the state.

He however, revealed that Ishaku has vowed to eliminate any form of insurgency by evil agents under any guise across the state just as he stated that the displaced women and children are taking refuge at Mayo-Selbe, Kungana and Garbabi communities.

Meanwhile, addressing journalists in his office on the development, Mr. Shaba Alkali revealed that the IG had approved the deployment of 60 mobile policemen from Yola to join the security agents on ground to contend the situation.

The CP, who equally paraded one Ardo Ayuba who was arrested in connection with the attacks, noted that efforts are ongoing to arrest the fleeing culprits for prosecution just as he disclosed that the command had so far discovered 15 dead bodies from the attacked communities.

The local government system in the country has now abandoned its primary responsibility to promote greater efficiency in the provision of local services to transform the lives of the people at the grassroots, and has now function as mere administrative extensions of state governments, Vice President Yemi Osinbajo has observed.

He said the local government is, by this development left completely corrupt, indiscipline, and inefficient in what has now projected it as a weak model for governance, adding: “This has become a source of grave concern to this government.”

Also, a former Secretary to the Government of the Federation (SGF), Alhaji Muhmud Yayale Ahmed, said Nigeria cannot realise the potential of the third tier of government unless the leadership and other stakeholders in the local government system revert to the basics, which he insisted, are the practices of old when councils generated their funds to provide development.

The duo spoke yesterday at the opening of a two-day national workshop on local government development, organised by Daily Trust, in partnership with National Institute of Policy and Strategic Studies (NIPSS), taking place at the premises of NIPSS in Kuru, near Jos in Plateau State.

The theme of the workshop is ‘Improvising Local Government Administration for Development at the Grassroots.’

Osinbajo, who was represented at the event by the Permanent Secretary in charge of Career Management Office of the Office of the Head of Service of the Federation (OFHOSF), Mr. Emmanuel Ogbonnaya, who also represented the special guest of honour, and current Head of Service, Mrs. Winifred Ekanem Oyo-Ita. He lamented a situation where the local government system can no longer serve the purpose for which it was created, adding that “this government is determined to support efficiency in local government administration and the strengthening of their operational capacities.”

While the vice-president said the federal government awaits the outcome of the ongoing workshop in suggesting ideas to reposition the third tier of government, he expressed optimism that the discussion would respond to the challenges of contemporary human resource management in local government councils, as well as respond to the issues of corruption, indiscipline and poor service delivery at that level.

Ahmed recalled that government at that level served as a subunit of the federal, as well as state government in the performance of legislative, administrative and quasi-judicial functions among other services.

51

WEDNESDAY APRIL 13, 2016 • T H I S D AY

CRIME&PUNISHMENT

Kidnap in Oyo, Bag Death Sentence, Says Govt Ademola Babalola in Ibadan Kidnapping is now a very serious offence in Oyo State, which attracts maximum punishment of death sentence in the event of the death of a kidnap victim while in captivity of the abductors.

However, a convicted offender would be liable to life imprisonment if the victim is released or rescued unhurt upon the payment of a ransom, while the kidnapper would be compelled to pay back the ransom.

Similar punishment awaits any person who procures, engages or gives information culminating in

the kidnapping of a victim, an offence the law considered to carry the same weight of kidnapping.

These highlight the new Kidnapping (Prohibition) Bill 2016 signed into law by Governor Abiola Ajimobi, last Friday, copies of which were made available yesterday.

The bill had earlier been passed into law by the state House of Assembly, following the submission of report by the Chairman, House Committee on Judiciary and Justice, Hon. Olukayode Akande.

The Speaker of the state House of Assembly, Hon. Michael Adeyemo and Permanent

NUJ Condemns Kidnap of Channels TV Journalist The Nigerian Union of Journalists (NUJ) has condemned in strong terms the abduction of a journalist in Owerri, Imo State.

Tope Kuteye, who is the Channels TV Correspondent in Owerri, was kidnapped in his house in Owerri on Monday, at about 3a.m. by an unknown gunmen who had since made a ransom demand of N15million.

The National Secretary of NUJ, Mr. Shuaibu Usman

Secretary/Clerk of the House, Mr. Paul Bankole, had earlier signed the bill before the governor’s assent.

The law prescribes life imprisonment for any person who kidnaps or threatens to kill, maim or cause bodily harm in order to compel another person, corporate body or organization to do or abstain from doing any act as a condition for the release of the victim.

Under the new law, 20 years imprisonment awaits anyone makes an attempt to kidnap, while anybody who aids or abets kidnapping is liable to imprisonment for 15 years upon conviction.

Besides, the law stipulates 15 years imprisonment or any noncustodian punishment that may be determined by the court for any person who puts himself forward to be kidnapped for the purpose of extorting ransom from his employer, any person or body.

According to the law, any property owner who knowingly or willingly surrenders his building over which he has control to be used for the purpose of keeping a kidnapped person is liable to 15 years imprisonment, while such property shall be forfeited to the government.

Any person who willingly allows his or her electronics,

equipment, instrument, mechanical or movable item to be used for the purpose of kidnapping, aiding or abetting kidnapping has also committed an offence and will be committed to prison for 10 years if convicted.

Similarly, any property, monies and other valuables owned or realised by anybody convicted of the offence of kidnapping shall be forfeited to the government for public use.

According to the law, any person who kidnaps another person by any other means of instilling fear or tricks, with intent to demand ransom or compel another to do anything against his will has committed an offence.

It also declares as an offence kidnapping in such a manner as to prevent the victim from disclosing to any other person the place where he is being kept in such a manner as to prevent anybody from having access to him with or without payment of a ransom for his release.

While signing the bill into law at the Executive Council Chamber of the Governor’s Office, Ajimobi commended the lawmakers for its accelerated passage, saying that it would help in curbing crime and criminal activities in the state.

The governor vowed to enforce the law to the letter, warning kidnappers to steer clear of the state in their own interest.

Leman, in a statement made available to THISDAY said: “It is very regrettable that the security situation in some parts of the country have deteriorated such that innocent citizens are being woken up from their sleeps at night and abducted for money.”

He added that while the body condemned the dastardly act, it was urging the police to leave no stone unturned in trying to rescue the victim of this callous act in good health.

EFCC Re-arraigns NAMA MD, Others for Alleged N6.8bn Fraud The Economic and Financial Crime Commission (EFCC) yesterday re-arraigned the Managing Director of the Nigeria Airspace Management Agency (NAMA), Ibrahim Abdulsalam and six other persons over alleged stealing and conversion’s of the agency money amounting to N6,850,447,609.90.

The anti-graft commission had last Thursday arraigned the NAMA boss, three directors of the agency and the wife of one of the directors.

The other defendants are: Adegorite Olumuyiwa, Agbolade Segun, Clara Aliche, wife of Adegorite, Joy Ayodele Adegorite who is the Managing Director of Multeng Travels and Tours Limited and two limited liability companies, Randville Investment Limited, Multeng Travels and Tours Limited alleged to have been used as conduit pipe to defraud the agency.

Other defendants included in the amended charge are: Bola Akinribido and Sesebor Abiodun.

The matter was listed for hearing of the bail applications of the defendants yesterday but the prosecutor, Rotimi Oyedepo, informed the court that he came with a 24-count amended charge and urged the court to allow the charge to be read to the accused persons again.

According to him, two other defendants were included in the amended charge and the defendants counsel did not oppose the application.

He also told the court that he had been served with bail application of the defendants, adding that he was not contending with the accused being granted bail but urged the court to allow

trial to commence immediately.

The presiding judge, Babs Kiewumi granted the request and the charge was read to the defendants who took their plea.

The offence was said to have contravened Section 8(a) of the Advance Fee Fraud and other fraud related offences Act, 2016 and punishable under section 1(3) of the same Act. The commission also alleged in the charge that the defendants on December 19, 2014, forged a bank document.

Two of the defendants Sesebor Abiodun and Bola Akinribido were only charged in parts of the 24-count amended charge.

When the charges were read to the defendants, they all pleaded not guilty and the prosecutor urged the court to allow him call his witnesses.

But all the defendants counsel including, O. Akoni (SAN), who represented the NAMA boss, opposed the commencement of the trial immediately, adding that the bail applications should be heard first.

Justice Kiewumi while ruling on the bail applications, granted all the accused persons bail in the sum of N20million each with one sureties in like sum.

He added that the sureties must have landed property within the jurisdiction of the court which must be verified by the court register and prosecution.

The judge however said the accused persons should be remanded in prisons pending when they will meet their bail conditions.

The matter was adjourned till 27 and 28 of April.

LET’S BE HOPEFUL

Wife of the President, Hajia Aisha Buhari (middle), consoling some mothers of the abducted Chibok girls in Abuja...yesterday

Female Gospel Singer Found Dead in Hotel Room Adibe Emenyonu in Benin City A female gospel singer identified as Yvonne Omoarebokhae has been found dead in a hotel said to be owned by a former lawmaker in the Edo State House of Assembly.

She was said to have lodged in the hotel with a Lagos-based pastor whose name was given as Apostle Psalm Okpe of the Fresh Oil Ministry.

Narrating the incident to journalists in Benin City yesterday, the husband of the deceased, Odion Omoarebokhae, said his wife met Okpe Sam on Facebook and after several months of chatting, his late wife was invited last Thursday by the pastor to perform in Warri, Delta State.

Odion said Psalm claimed to have a programme in Warri, Asaba and Benin City where his wife was to perform.

He said his wife called him at about 10a.m. last Friday that she would be home soon.

The physically peeved husband said: “At about 9:30p.m. the police used my wife phone to call and invite me to report at the Airport Road police station.”

“I waited for more than two hours at the police station until the police asked me to go home but I insisted on knowing the whereabouts of my wife.”

“The DPO later told me that my wife was picked at an hotel in the GRA and rushed to the Benin Central Hospital where she was confirmed dead.”

“I am yet to see the corpse of my wife to know what happened and who is responsible for her death. We have a three-year old baby at home.”

It was however learnt that the pastor had been arrested and helping police with the investigation.

The state Commissioner of Police, Chris Ezike, confirmed the death of the woman and said the matter was under investigation, adding that a post mortem examination would confirm the cause of death.

He said: “It is under investigation. The man is married and the woman is married. Not until a post mortem is conducted, we cannot conclude what happened. I have asked the matter to be transferred to the State CID.” When asked if the pastor had been arrested, Ezike said: “We are not looking for anybody because we have all the evidence to carry out our investigation.”

Army Dismantles Kidnap Syndicate in Abia, Recovers N5.4m Emmanuel Ugwu inUmuahia Troops of the 14 Brigade Garrison, Ohafia have successfully destroyed “a notorious” kidnap gang operating between Aba and Ohafia all in Abia State.

Army Public Relations Officer of 14 Brigade, Major Sydney Mbaneme, made this known at a press conference during which a suspect member of the kidnap gang, Chidiebere Sunday, 39, was paraded while items recovered from their hideout displayed.

He said the items were recovered after a search of the house and a follow up search the next day. The items include N5, 490, 000, two AK 47 rifles, police special pistol, nine magazines loaded with 124 rounds of 7.62mm special ammunition, two rounds of 9mm ammunition, six GSM handsets, RAV 4 Jeep marked Lagos MUS 428 RZ, generator, among others.

The army spokesman said one member of the gang, who was identified as Ifeanyi met his death while trying to escape through the roof of a nearby house after fleeing from the house where members of the gang were staying when the troops swooped on them.

He explained that the gang met their waterloo on Friday, April 8 three days after they had abducted a man atAba

and took him to Nkporo in Ohafia local government where they kept their victim and demanded ransom for his freedom.

But according to the army spokesman, troops deployed toAbriba in Ohafia local government received a distress call about “suspicious persons in the area” prompting the troops to respond immediately and swooped on the four member gang in a house at Nkporo. He said that two of the hoodlums escaped, one arrested while the fourth person jumped to his death.

MajorMbanemesaidthekidnapped victim was freed and now receiving medical attention at an undisclosed hospital following the gun shot wound he received from the kidnappers.

The captured kidnap suspect, Chidiebere Sunday, denied being a member of the gang. He told journalists that he was preparing for his father’s burial slated for Saturday when he was invited by Ifeanyi to come and receive some financial assistance at Nkporo.

Sunday, who said he hails from Umumgbokwo, Isingwu in Umuahia North local government but lives and trades in Benue, narrated that on his arrival at Nkporo, he met Ifeanyi and other men and waited to receive the promised money.

He said: “To my surprise” soldiers stormed the house and arrested him as others fled.

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WEDNESDAY APRIL 13, 2016 • T H I S D AY

NEWSEXTRA

IPOB, Aka Ikenga Demand DNA Evidence of Herdsmen Killing Arewa youths demand justice for victims

Emmanuel Ugwu in Umuahia, Akinwale Akintunde in Lagos and Adebiyi Adedapo in Abuja With no concrete evidence made available to the public yet on the alleged killing of five Fulani herdsmen, the Indigenous People of Biafra (IPOB) yesterday demanded for a DNA proof that the corpses the Department of State Services (DSS) said it discovered were actually herdsmen.

The Governor of Imo State, Rochas Okorocha, had on Monday visited his Abia host, Dr. Okezie Ikpeazu and after a joint security meeting, announced that the herdsmen were killed by kidnappers operating on the border of the two states.

But in a statement issued by the head of media and publicity, IPOB faulted the stance of the two governors when no evidence has been provided, saying that they were in a hurry “to sustain the lies cooked up by the DSS,” which has already been exposed.

The pro-Biafra group called on the international community

to wade into the saga and conduct a thorough investigation and establish through DNA testing if the DSS actually found corpses and whether they were Fulani herdsmen as alleged.

IPOB said: “As the world reflects on the implications of this epic movie on our consciousness, the 22 million IPOB faithful from Benue to Delta, from Kogi to Bayelsa and beyond, plead with the international community to kindly and quickly investigate the corpses (if any) found by the DSS and conduct a thorough DNA coroner inquest, just to confirm to the world, what we have always known, which is: that God the creator of heaven and earth, will certainly expose the remaining corpses of the over 200 IPOB members killed between Nov. 2015 and Feb. 10, 2016.”

Describing the story of the alleged herdsmen killing and the unfolding events as “Unpalatable Movie, Season One” the separatist organisation pointed out that the “script writers of the tragic-comedy have changed gear.”

IPOB also faulted the statement

credited to the Conference of Minority Tribes of Nigeria (CMTN), which jumped into the fray on the side of DSS, blaming IPOB for the killings without any evidence.

According to IPOB, “an unknown quantity, Samson Babalola was hired” to parrot DSS storyline while Okorocha was instructed by his masters to hurry down to Abia to “intimidate” Abia governor all in a bid to sustain the lies told by the DSS. Similarly, an Igbo socio-cultural group, Aka Ikenga, has faulted a statement credited to the DSS, claiming that five corpses recently discovered and buried somewhere in Abia State were Fulani people.

The group, in a statement signed by its President-General, Chief Goddy Uwazurike, also expressed disappointment that the DSS in its statement concluded that the IPOB was responsible for the death of these men, adding that the DSS

story lacks authenticity and dept.

Uwazurike questioned how the security agency came about its claim since no autopsy has been conducted on the decomposed bodies.

According to him, without an autopsy, there is no way DSS can identify the victims.

“Aka Ikenga is puzzled at how the DSS came about some conclusions, the chief of which that there were Fulani people. If the bodies are decomposing and no autopsy has been done, how can anybody describe the deceased as Fulani? Is it by their wears?

Many Igbo people wear Hausa Fulani clothes.

“Secondly, how did the DSS come to the conclusion that the Indigenous People of Biafra group was responsible for the death of those men? Or is it a speculation?

“Aka Ikenga questions the whole story as lacking in

authenticity and dept”, Uwazurike stated.

The group therefore demanded that a public autopsy be carried out by specialists from the Nigerian Medical Association, Abia State Branch, the Federal Medical Centre, Umuahia, the Abia State Government, the civil society groups and the DSS, adding that this was the procedure adopted on M.K.O Abiola’s case.

However, the Arewa Youths Integrity Forum (AYIF) has condemned what it described as the desperate attempt to exonerate the alleged culprits behind the killing of Hausa-Fulani residents in Abia State.

The group in a statement signed by its president, Alhaji Ibrahim Abubakar, said the criminal intention to shield IPOB leaders who committed the atrocities from justice, was unfortunate.

According to the statement, the DSS had indicted IPOB in the death of the five men following the discovery of mass graves with scores of yet to be identified bodies in a forest in the state.

The group said it was lending its voice to the demand for the prosecution of all those involved in the heinous act by the appropriate security agencies that must also confront IPOB’s collaborators who seek to use such provocation to trigger widespread unrests in Nigeria.

Abubakar in the statement, warned that shielding the perpetrators from justice would encourage more killings as they would be encouraged to consider their murderous acts as normal.

The statement explained that making the killers face the law is important to reassure other ethnic nationalities and discourage them from embarking on reprisals.

Adeosun, Adesina, OkonjoIweala, Oteh to Speak at IMF/WB Spring Meeting Nduka Nwosu in New York The Minister of Finance, Kemi Adeosun, is leading the pack of three other distinguished Nigerian technocrats billed to speak during the Spring meeting of the IMF/ World Bank, which kick started Monday in Washington DC. Adeosun, who is expected to address the media on the state of the Nigerian economy at the end of the meeting, would tomorrow join a group billed to discuss the topic: ‘Sub-Saharan Africa Just a Rough Patch,’ moderated by Nancy Birdsall, the founding president of the Centre for Global Development and former Executive Vice President of the Inter-American Development Bank, where she oversaw a $30 billion public and private loan portfolio.

The Nigerian minister and two other panelists, Mitsuhiro Furusawa, Deputy Managing Director, IMF and Claver Gatete, Rwanda’s Minister of Finance would be confronted with the issues surrounding the slump in commodity prices, tighter global financing conditions, and meagre policy buffers, as well as economic growth in the sub-Saharan Africa, a situation which the IMF said “has weakened markedly to 3½ per cent in 2015, the lowest rate in some 15 years.

“This slowdown and the macroeconomic difficulties it has engendered—particularly in a number of the region’s larger economies—is likely to dominate the news and policy discussions in the coming months,” says the MF. The minister of finance and her two other panelists are therefore expected to discuss a number of key questions. Is the Africa Rising Episode Over? What kind of macroeconomic policy response can help strengthen the region’s resilience to external shocks and

unlock its growth potential?

Former Minister of Finance, Ngozi Okonjo-Iweala, would join the IMF Managing Director, Christine Lagarde, to address the topic: ‘Low-Income Developing Countries: Conference on Sustainable Economic Development in a Challenging Global Environment.

According to the synopsis, “After a decade of sustained growth, low-income and developing countries have slowed sharply since 2015, reflecting the confluence of a weakened external environment and domestic macroeconomic imbalances.”

After the opening remarks by Lagarde with keynote address by former US Treasury Secretary, Larry Summers, now Professor of Economics, Harvard University, Okonjo-Iweala, former Nigerian Minister of Finance, will be joined

by Asli Demirguc-Kunt, to address the issue of inequality, growth and resilience.

Vice President and Treasurer of the World Bank Group Aruma Oteh will also be in the panel of discussants addressing the issue of “Innovative Financial Solutions for Today’s Development Challenges,” with Alan Gelb, Senior Fellow and Director of Studies, Center for Global Development and Mark Lowclock, Permanent Secretary, Department for International Development, United Kingdom, Sahar Nasr, Egypt’s Minister of International Cooperation, as well as Kyle Peters, Senior Vice President, Operations, World Bank Group.

President African Development Bank (AfDB), Akinwunmi Adesina will also address the topic: ‘Future of Food: Why Healthy, Safe and Sustainable Food is a Basic Necessity.’

WELCOME BACK TO LEGISLATIVE DUTIES

L-R: Senate Minority Leader, Senator Godswill Akpabio; Chairman, Senate Committee on Culture and Tourism, Senator Matthew Urhoghide; and Chairman, Senate Committee on Ethics and Privileges, Senator Samuel Anyanwu, discussing the day’s proceedings as the Senate resumed from the Easter break in Abuja... yesterday Julius Ato

Otti: Ikpeazu Frittered Away N14bn Bailout Fund Gboyega Akinsanmi The governorship candidate of the All Progressives Grand Alliance (APGA) in the last election in Abia State, Mr. Alex Otti, yesterday alleged that the state Governor, Dr. Okezie Ikpeazu frittered away N14 billion bailout fund the state received from the federal government.

Otti, former Group Managing Director of Diamond Bank Plc, also alleged that Ikpeazu’s administration owed the public servants several months of accumulated salary arrears after getting N14 billion bailout fund.

He made the allegation a statement signed by his Media Assistant, Mr. Ferdinand Ekeoma, noting that he had become a victim of the politics of hatred, violence and clannishness in the state.

Otti issued the statement in response to a comment credited to Ikpeazu that he (Ikpeazu) had forgiven all his opponent who did not

want him to become the governor of the state.

He thus alleged that if the Ikpeazu administration “is not still bearing grudges against Abia workers for massively voting against them, then there is no reason the workers should be owed several months of accumulated salary arrears.”

He lamented that the administration had no plans “to pay the Abian workers even after getting over N14 billion bailout funds from the federal government. Governance is a serious business, therefore Ikpeazu and co should be serious for the sake of suffering Abia masses.

“By claiming to have forgiven Alex Otti who was a victim of his politics of hatred, violence, clannishness, machetes and coffins, Ikpeazu merely exposed himself as a die-hard apostle of political barbarism.”

He noted that governor’s comment continued “to attract wide condemnation from different

quarters, especially from Abia electorate who have neither recovered from the shock of their unpopular Supreme Court judgment nor forgiven Ikpeazu and PDP for usurping the collective will and capturing the governorship seat through despicable political brigandage.”

He added that the atrocities that took place in Abia during the election “is in public domain. So, no amount of fruitless distortion advanced through hypocrisy can wipe out this sad political history which will continue to hunt the perpetrators.

“If Ikpeazu and co are not enjoying the present terror of kidnapping and armed robbery ravaging Abia the way they enjoyed their election period violence, then they should go beyond the donation of few salon vehicles to the police and unfold sound security master plan aimed at arresting the orgy of violent crimes sweeping across the state,” he explained.

He lamented that Ikpeazu continued to put up his cosmetic mien of humility and seriousness, noting that his numerous actions and utterances “leave no one in doubt about his unwillingness to repent of his sins and receive genuine forgiveness from God, Alex Otti and Abians.

The governorship candidate observed that Ikpeazu could an unpopular governor whose legitimacy and acceptability revolves only around the Peoples Democratic Party (PDP) cabal milking Abia dry.

He therefore said though governor might have succeeded in deceiving some unsuspecting members of the church where he spoke in Enugu and gave them the false impression of an innocent man whose emergence was an act of God, he didn’t succeed in deceiving God who knew what happened in Abia, neither would he succeed in deceiving Abians who know who they voted for.

T H I S D AY WEDNESDAY APRIL 13, 2016

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WEDNESDAYSPORTS

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com

NFF CRISIS UPDATE

Giwa Vows to Assume Duty at NFF, Sacks State FA Chairmen Olawale Ajimotokan in Abuja

The tension in Nigeria football was heated up yesterday following the declaration

by Jos-based club owner, Chris Giwa, to assume duty today as the ‘validly elected’ president of Nigeria Football Federation (NFF) .

Giwa also sensationally dissolved all the 36 states football association boards.

He said the congress was sacked because they were put in place by an illegal NFF. Giwa is contesting the leadership of the NFF with Amaju Pinnick whose election is backed by FIFA. A High Court sitting in Jos, presided over by Justice Musa Kurya, had last Friday annulled the September 30, 2014 election in Warri, which was won by Pinnick.

Giwa, whose appeal was dismissed by the Court of Arbitration in Sport (CAS) rubbished the latest warning issued by FIFA to him to stop parading himself as NFF

president.

He said Article 1.1 of FIFA statute and Article 1.1 of NFF statute recognised the supremacy of both the Swiss and Nigerian laws in matters of civil disputes.

He denied that CAS ever dismissed his appeal, saying rather that the body based in Lausanne, Switzerland only rejected jurisdiction over the matter, which was to challenge FIFA letter of August 29, 2014 over the NFF election.

“Since CAS did not rule that our election of August 26, 2014 was invalid, and also that FIFA could not be said to have recognised the purported election of 30th September 2014, in which Pinnick emerged, our election being the first in time subsists and takes precedent over the Warri election,” Giwa told bewildered reporters at his press briefing in Abuja yesterday.

He said that the order of Justice Kurya which

Super Falcons Sail into AWCON Finals Cup holders Nigeria will be one of the eight countries that will participate in the 10th African Women Cup of Nations (AWCON) holding in Cameroun, between November 19 and December 3 this year, after the champions saw off the Teranga Lionesses of Senegal 2-0 in Abuja yesterday.

Goals by midfielders Rita Chikwelu and Osarenoma Igbinovia, in either half, sent the Falcons soaring to a 3-1 aggregate win over the Senegalese, following both teams’ 1-1 draw in Dakar on Friday.

The seven –time African champions fluffed a hatful of chances in the first half, with Arsenal FC of England new signing Asisat Oshoala looking a lot less sharp than her usual self, and forward Desire Oparanozie forced to start from the bench as a result of the injury she sustained in the first leg.

Oshoala even failed to convert from the penalty spot after Ebere Orji was upended in the box, before

Chikwelu connected a brilliant pass to put Nigeria in front in the 36th minute.

Igbinovia was at the right place to connect another brilliant pass from the right just a minute into the second half, to somehow settle the nerves of dignitaries and spectators at the National Stadium, Abuja.

At the match were NFF President, Amaju Pinnick, 1st Vice President, Seyi Akinwunmi, 2nd Vice President/LMC Chairman, Shehu Dikko, NFF General Secretary, Mohammed Sanusi, NFF Executive Committee members Ibrahim Gusau, Chris Green, Babagana Kalli, Sunday Dele-Ajayi andYusuf Ahmed Fresh, Chairman of Senate Committee on Sports, Obinna Ogba, former NFF General Secretary Bolaji Ojo-Oba, LMC’s Chief Operating Officer, Salihu Abubakar, former NFF General Secretary, Fanny Amun, and a number of chairmen and secretaries of Football Associations of different states of the federation.

Ex-Leventis United Coach, Okoh is Dead Former Leventis United Chief Coach, Emmanuel Okoh, 65, died in Lagos yesterday.

According to a press statement endorsed on behalf of the family by Charles Okoh, news editor of Champion Newspapers Limited, the coach died in the early hours of yesterday after a protracted illness in a Lagos hospital.

An ex-footballer, Okoh, in his playing days captained Leventis Football Club (Iddo

Tigers) in Lagos before being made coach of the Ibadanbased all-conquering Leventis United.

Coach Okoh was voted the best coach in the country when he led the Leventis United to the finals of the African Cup Winners Cup. He also coached Calabar Rovers, Delta Steel FC, Aladja as well as Union Bank of Lagos, before quitting coaching to venture into other business endeavours.

purportedly annulled the Warri election gave ground for the suspension of the state

FAs as all actions undertaken by the Pinnick board are illegal and unknown to law.

Giwa said the state caretaker committee will be constituted today in Abuja

after an Extra Ordinary Congress called by his factional group.

Super Falcons celebrating the ticket to 10th AWCON...yesterday

NFF Formally Subscribes to FIFA Integrity Initiative Nigeria Football Federation (NFF) has joined the growing list of FIFA member federations that have subscribed to the FIFA Integrity Initiative following the conclusion of a Roundtable Discussion in Lagos between the federation and heads of the FIFA Early Warning System and International Affairs.

President of the NFF, Amaju Pinnick led the Federation’s 1st Vice President, Seyi Akinwunmi, the 2nd Vice President/LMC Chairman, Shehu Dikko and the Chief Executive Officer of the LMC, Nduka Irabor to the meeting at Four Points Hotel on Victoria Island, Lagos with Head of the Early Warning System, Dr. Julie Norris, and the Head of International Affairs at FIFA, Jacek Wojdyla.

Also at the discussion were NFF Chief Legal Officer, Okey Obi,

LMC’s Head of Special Projects, Harry Iwuala, and the NFF Integrity Officer, Dr. Christian Emeruwa.

In her opening remarks, Dr. Norris explained that the objective of the meeting was to partner with the NFF as they have done with about 109 other member Federations that have subscribed to the campaign to protect the integrity of NFF competitions.

“We are happy to work with you to build capacity through training for the enforcement of FIFA Integrity Initiatives that will enable the Federation have the capacity to detect and deal with threats of match fixing through the activities of sports betting,” Norris stated.

She added that Nigeria would have to adopt and domesticate the FIFA model to suit her own operational peculiarities. “There

is no one solution that fixes all the threats and it is left for the Federation working with us to design what will work for it and we are always there to monitor and flag such threats when detected”.

Dr. Emeruwa, who attended the FIFA/Interpol Education and Prevention Initiative Integrity in Sports Workshop in Abidjan revealed that of the five thematic areas identified at the workshop for implementation, Nigeria has implemented the first two which are the appointment of a Desk Officer and creation of awareness among all stakeholders.

Of the remaining three areas, Emeruwa said,“The NFF Integrity Unit has developed a template as proposed guidelines for combating match manipulation and enhancement of the integrity

program for our competitions and this guideline is to be presented to the NFF Congress at its next convocation.

“Plans are on to work out a dedicated funding system to aid the initiative while the NFF Congress is being awaited to approve guidelines for a structure to collaborate with security agencies such as the Police, Department of State Security and the Economic and Financial Crimes Commission.”

In his closing remarks, NFF President Pinnick assured the FIFA team that the NFF Executive Committee will provide the enabling structure for the Integrity Initiative to be effective, noting that, “from the report of the NFF Desk Officer, it is obvious that we are committed to the campaign.”

Zenith Bank WBL: AHIP Savours Victory over First Deepwater Kano-based Adolescent Health and Information Programme, (AHIP) Basketball Club, yesterday defeated First Deepwater Basketball Club of Lagos 5653 in one of the Zenith Bank Women Basketball League games in Asaba.

AHIP’s victory was the high point of the matches decided yesterday.

Other teams that also won in the second phase of the league include; IGP Queens who defeated Taraba Hurricanes 61-22 while GT 2000 also snatched a 38-39 victory against Customs.

Zamfara Babes lost to immigration

36-44 while Benue Princess defeated Plateau Rock.

Speaking after his team’s victory against First Deepwater, Coach of AHIP, Wilson Idanwenkai, told reporters that his girls had a good game.

He commended his players for sticking to the game plan even in the face of biased officiating from the referees.

“We had a nice game against First Deepwater and it was good that it ended in our favour.

However, the referees looked like they were acting out a script and it is a bad development. It seems some of the teams are desperate

to qualify for the Final Eight. This perhaps is the reason for the desperation to win at all costs.

This is the cause of the rivalry that is becoming unhealthy among teams,”reasoned the AHIP coach.

Despite his team’s good showing in the second phase of the Zenith Bank Women’s League so far, Idanwenkai insisted that AHIP is not desperate to play in the Final-Eight in Lagos.

“What my organisation is concerned about is to develop players that will become top players in future. We are not in the league to win-at-all-cost, but add glamour to it by training players

to become stars. We don’t want to be part of any group that is desperate for laurels,” stressed the coach.

He buttressed his position by pointing out that over 70 per cent of the players playing in the league came from AHIP basketball programmes.

“I must say that the standard of the league has improved. The teams are more balanced and churning out good performances, which is good for the overall improvement of the women’s game. I enjoin all the teams to contribute their quota to the rise of basketball in the country.”

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WEDNESDAYSPORTS U E FA C H A M P I O N S L E AG U E

Ronaldo’s Treble Fires Real Madrid into Semis, City Through Cristiano Ronaldo scored a superb hat-trick as Real Madrid overturned a 2-0 firstleg deficit against Wolfsburg to reach the Champions League semi-finals.

Wolfsburg arrived in Spain’s capital protecting a healthy lead, but that was wiped out by a Ronaldo double in the space of 86 first-half seconds.

The Portuguese swept home

the first from six yards before a glancing header leveled the scores on aggregate.

Ronaldo’s hat-trick goal came from a free-kick when Wolfsburg’s wall parted.

It completed a quite remarkable turnaround by the 10-time champions of Europe and keeps alive a season that looked to be over for Zinedine Zidane’s

side after last week’s loss in Germany.

Elsewhere on the night, Kevin De Bruyne fired Manchester City through to the semi-finals of the Champions League.

The £55m Belgian smashed home a 20-yarder 14 minutes from time to secure a 1-0 victory against French champions Paris Saint-Germain and complete a

NOC Unveils Wakanow as Nigeria’s Sole RIO 2016 Ticket Reseller The Nigeria Olympic Committee (NOC) has unveiled Wakanow as the country’s sole authorised Rio 2016 Olympic Games ticket reseller.

The summer games is scheduled to hold between August 5 and 21 in Rio de Janeiro, Brazil.

According to the NOC, tour and hospitality services provider, Wakanow, has the sole right to sell tickets and also arrange easy passage for Nigerians to the Games.

Speaking at the unveiling ceremony in Lagos yesterday, NOC President, Habu Gumel, said that the partnership with Wakanow was part of the committee’s programmes to ensure that Nigerians get easy access to the tickets and other logistics connected with the games.

He said the Committee’s decision to reappoint Wakanow as authorised ticket provider for Rio

2016 followed the company’s good performance at the last Games at London 2012.

Gummel who was represented

by NOC Secretary General, Tunde Popoola, said the pact with Wakanow would enhance Nigeria’s participation at the 2016 Olympics because the company has the resources to move our fans to all the venues to support Team Nigeria.

“We had the same partnership in 2012 and we are happy that we have a partner that believes that the NOC should be bigger and better than it is. We need to thank the company for contributing to the rebranding of the NOC. The IOC is aware of our partnership with Wakanow,” he said.

Wakanow’s Managing Director, Obinna Ekezie, said his firm has acquired the experience

to do better than it did at the London 2012 Olympics and the 2014 World Cup, which incidentally was held in Brazil.

“We are keen in this partnership because we have very hardworking and knowledgeable people manning the NOC. “We have over 30 outlets across the country where people can go to access the tickets and key into our packages for the Olympics. We are working closely with the airlines to take care of the difficulty with connectivity in Brazil.

“We are also looking at ways to provide affordable fares and other logistics for Nigerians going to Brazil, but we advise interested parties to book their package on time so that we can start processing their documents.”

3-2 aggregate win in a tense quarter-final second leg at the Etihad.

PSG dominated the first half in terms of possession after City had started brightly.

Joe Hart saved well from Zlatan Ibrahimovic’s free kick but the French champions struggled to create chances.

It took the home side 22 minutes to muster an effort on goal - and even then Sergio Aguero fired wide and followed that up with another shot seconds later that was much closer.

On the half hour Aguero had a much better chance to put City ahead.

He was fouled by keeper Kevin Trapp in the penalty area but Aguero blazed the spot-kick wide.

Jesus Navas then scuffed a shot wide after another defensive error from the visitors.

After the break another Ibrahimovic free kick was pushed wide by Hart.

Hart was then forecd into a smart save from Thiago Silva’s header.

But with 14 minutes

Ronaldo ... scored hat-trick against Wolfsburg yesterday

remaining De Bruyne calmed the nerves of the home fans, smashing home from outside the area after good work from Fernando.

Five minutes from time Ibrahimovic thought he had levelled but his goal was ruled out for offside.

RESULTS

Real Madrid 3-0 Wolfsburg Man City 1-0 PSG TODAY Atletico v Barca Benfica v Bayern

Wednesday April 13, 2016

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MISSILE

ASUU to FG

“The current fuel crisis has adverse consequences on the socio-economic life of the nation; it has increased the cost of food, transportation, electric power as well as general cost of living.

It has created political cost. It has also widened the distance between the government and the people, and created distrust between the people and the government. It has caused general social tension in the land. Government is slow in implementing the policies it pronounced in 2015” – The Academic Staff Union of Universities (ASUU) taking a swipe at the federal government over the depreciating level of the economy and the ensuing suffering of the masses.

FEMIFALANA GUEST COLUMNIST

The Law and WS’s Appointment A segment of the political elite has decided to follow in the shaky footsteps of the American extreme rightwing politician, Mr. Donald Trump, by attempting to constrict the democratic space in our country. This is manifest in the diversionary debate over the constitution of a committee by the Lagos State government to supervise the activities lined up to mark the 50th anniversary of the creation of the state.

It is common knowledge that Professor Wole Soyinka’s parents were from Ogun State. His father hailed from Isara, an Ijebu (Remo) community while his mother was an Egba woman. Even though ours is a patriarchal society, the parentage of the Nobel Laureate has been described as “Ijegba”, a word coined by him from his Ijebu and Egba roots. However, the Ijegba man has lived in Lagos and made it a home like many Nigerians and foreigners alike.

As a young lecturer, he taught briefly at the University of Lagos. On account of his involvement in the struggle for social justice, he has written plays and delivered speeches in Lagos to arouse the Nigerian people to fight tyranny and oppression.

He has also held press conferences and led protests on the streets of Lagos against the dictatorial tendencies and excesses of the civilian and military wings of the bourgeois ruling class.

To stop the carnage on our poorly maintained roads, he inspired a group of road safety corps of volunteers to manage a chaotic traffic situation in the country in the 70s. The federal government bought the concept and set up the Federal Road Safety Commission (FRSC). The programme was the precursor of the Lagos State Transport Management Agency (LASTMA) established by the Bola Tinubu administration. But for the strident opposition of a group of artistes led

by Soyinka against the planned privatisation of the National Theatre at Orile Iganmu in Lagos the edifice would have been sold to a trader who might have converted the historical monument to blocks of shops to sell used clothes and stock fish.

Several years ago, the Lagos State government had rightly acquired the site of the colonial prison along Broad Street in Lagos for a public purpose. As the government was thinking of what to do with the site, it was Soyinka who convinced the Babatunde Fashola administration to turn it into a centre for the promotion of arts and culture. The beautiful arts theatre erected by the state at the site is now known as the Freedom Park. The theatre which is patronised by local and foreign artistes has become a popular entertainment centre in Lagos State. In spite of his very busy schedules, Soyinka superintends the management of the theatre. Characteristically, he has added value to the Freedom Park and enhanced its image.

Having regard to his enormous contributions to the development of Lagos State, Soyinka’s appointment as a co-chair of the 50th anniversary committee of the creation of the state by Governor Akinwunmi Ambode

Soyinka

was hailed in many circles. However, it has not gone down well with the members of the “Eko Foundation” who have said that the temporary appointment ought to have been allocated to an “indigene of Lagos State.”

Incidentally, the press release issued by the group was jointly signed by two senior lawyers - Professors Wole Smith (SAN), and Kunle Uthman. While appreciating the primordial sentiments expressed by the group in the context of the country’s politics of exclusion, it is pertinent to examine the legal validity of the appointment .

Since the people of Nigeria are entitled to

As a centre of excellence, Lagos cannot continue to live in the past.

Lagos cannot afford to play the politics of exclusion because of its exemplary cosmopolitan nature.

To that extent, the appointment of Professor Wole Soyinka as a cochair of the 50th anniversary committee cannot be said to be anomalous in any material particular

residency rights, the discriminatory treatment meted out to non-indigenes and settlers in many parts of the country cannot be justified in law. In Lafia Local Government v. The Executive Governor, Nasarawa State & Ors (2012) 17 NWLR (PT 1328) 94, the Supreme Court struck down a policy of the Nasarawa State government, which required all local government staff to serve in their local governments of origin. In the leading judgment of the court, Rhodes Vivour J.S.C. said that the policy was “discriminatory and unconstitutional and clearly offends the provisions of section 41 (1) which guarantees freedom of movement and section 42 (1) which guarantees the freedom from discrimination.

It is contrary to the spirit and intendment of relevant sections of the Constitution”. In his contribution to the judgment, Fabiyi JSC also stated that “the policy infringed and/or eroded the constitutional rights of the 3rd-36th respondents relating to discrimination, ethnicity and place of origin syndrome. That should not be the position in a democratic setting guided by fundamental human rights as duly imbued by the Omnipotent”.

By the combined effect of sections 14 and 15 of the constitution, the Nigerian State is required to promote national integration and protect the residency rights of citizen, while the government or agency of a state government shall be constituted in such manner as to promote a sense of belonging and the diversity of the people. Although section 147 of the constitution provides that every state in the federation shall be represented in the federal cabinet by any indigene, there is no such requirement at the state level. In other words, it is not stated in the constitution that members of the executive, judicial and legislative arms of a state government shall be constituted by indigenes alone. Therefore, the appointment of Professor Soyinka by Governor Ambode has not violated any law.

Some years ago, former Governor Fashola said that Mr. Segun Aganga was not competent to represent Lagos State in the Goodluck Jonathan cabinet on the ground that his parents hailed from Edo State. In challenging Mr. Fashola’s position, I did state that Mr. Aganga is a Lagosian since he was born and bred in Lagos and has been accepted as an indigene by one of the local governments in the state. My position was anchored on the Federal Character Commission Act which has defined an indigene of a local government is a “person either of whose parents was or any of his grandparents was or is an indigene of the local government concerned or accepted as an indigene by the local government, provided that no person shall lay claim to more than one local government”.

Since every citizen is entitled to residency rights, it is submitted that the authorities of local governments are under a legal obligation to accept as an indigene every person who decides to live in any community other than their place of origin. In other words, Nigerian citizens who have chosen to reside outside their states or local governments of origin are entitled to be

fully assimilated into the way of life of their place of residence. In Director-General, State Security Service v. Olisa Agbakoba 1999) 3 NWLR (PT 595) 314, the Supreme Court upheld the right of Nigerian citizens to reside in any part of the country when it held that “It is not in dispute that the constitution gives the Nigerian citizen the right to move freely throughout Nigeria and to reside in any part thereof”.

In view of the clear provisions of Section 42 of the 1999 Constitution, it is undoubtedly clear that discrimination meted out to a Nigerian citizen on the basis of ethnicity or place of origin is unconstitutional. In order to end the dichotomy of “indigenes” and “settlers” in the country, not a few people have suggested that the rights of an indigene be conferred on any settler who has resided in any community in Nigeria for a period of not less than 10 years. The suggestion flies in the face of sections 41, 42 and 43 of the constitution which have guaranteed the fundamental rights of every Nigerian citizen to move freely throughout Nigeria, reside, own and acquire property in any part thereof and not to be subjected to disabilities or restrictions on account of their ethnic group or place of origin.

By way of digression, permit me to recall an interesting experience. I was in Nairobi, Kenya to attend an international human rights conference in 2008 when Mr. Barrack Obama had just been elected as the President of the United States of America.

Since his father was a Kenyan, Obama’s election was celebrated all over the country.

Even the then Kibaki administration which had annulled the result of the presidential election in the country declared a national holiday to celebrate Obama’s election. In the course of reviewing the American election, I was compelled to ask some of my Kenyan friends if Barrack Obama could have won a presidential election if he had contested in Kenya. All the friends were unanimous in saying that it would have been impossible since his father was of the Luo ethnic group, a minority ethnic group in Kenya. In fact, Kenyan opposition politician, Raila Odinga, has concluded that “it is easier for a Luo to become American president than being elected Kenya president”.

Regrettably, the political class in each of the African countries has failed to draw any lesson from Obama’s election. Hence, African politicians have continued to campaign and woo voters on the basis of ethnicity and religion to the detriment of development. As a centre of excellence, Lagos cannot continue to live in the past. Lagos cannot afford to play the politics of exclusion because of its exemplary cosmopolitan nature. To that extent, the appointment of Professor Soyinka as a co-chair of the 50th anniversary committee cannot be said to be anomalous in any material particular.

•This column was adapted from a statement made in Lagos by Mr. Falana (SAN) at the public presentation of a book entitled THE STORY OF A GIANT

by Kayode Fabunmi.

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