Monday 18th April 2016 by THISDAY Newspapers Ltd

Udoma Meets Saraki over Budget Impasse Senate insists on supplementary bill N’Central senators vow to retain Senate presidency

Omololu Ogunmade in Abuja and Adams Abonu in Lafia The executive at the weekend kept up its pressure on the

Senate to renounce its stance that it would not reconsider the inclusion of Calabar-Lagos rail project in the 2016 budget. THISDAY learnt that the

Minister of Budget and National Planning, Senator Udoma Udo Udoma, visited Senate President Bukola Saraki to persuade the

Senate to change its mind. President Muhammadu Buhari is expected to formally communicate his position on the 2016 budget to the

National Assembly this week. The House of Representatives had resolved to revisit the controversial 2016 budget after a two-

hour closed-door session on Wednesday, but the Senate stuck to its guns, insisting Continued on page 9

NLC, Falana, CSOs Condemn Senate over Attempt to Amend CCB, CCT Act...

Page 12

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Emefiele: Why Yuan Currency Swap Will Reduce Pressure on Forex Market FG proposes RMB50bn under deal CBN dollar sale to banks drops to $178m on IOCs’ direct forex sales to oil marketers

Obinna Chima Central Bank of Nigeria (CBN) Governor, Mr. Godwin Ifeanyi Emefiele, has expressed optimism that the agreement reached between Nigeria and China last week on a currency swap will strengthen the naira

and help reduce the strong demand for the US dollar in the country. President Muhammadu Buhari last week travelled with a high-level government delegation to China where he signed a $6 billion deal to fund joint infrastructure projects.

NIGERIA’S TRADE VOLUME WITH MAJOR TRADING PARTNERS

1 2 3

COUNTRY China India USA

2014 ($’BN) 2015($’BN) 14.94 11.76 16.36 17.75 4.9 9.9

Britain

9.9

8.52

France

7.06

5.64

Japan

4.5

5.28

Italy

5.53

3.0

8 9

Germany Turkey

3.5 2.7

6.2

10 South Africa 6.0

2.5 Not Available

Source: Embassy Trade Missions; Chambers of Commerce

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 came after Finance Minister, Mrs. Kemi Adeosun, said recently that

Nigeria's Trade Volume with China Relative to Other Countries in 2014

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 had been agreed with Nigeria, making it easier to settle trade deals in yuan. Throwing more light on the currency swap, Emefiele said Continued on page 9

Nigeria's Trade Volume with China Relative to Other Countries in 2015

MONDAY APRIL 18, 2016 T H I S D AY

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MONDAY, APRIL 18, 2016 • T H I S D AY

PAGE NINE

Airlines May Ground Flights as Fuel Scarcity Bites Harder Foreign airlines source Jet A1 outside Nigeria Chinedu Eze Airline operators have urged passengers to expect more delays or cancelled flights as the scarcity of aviation fuel, known as Jet A1, bites harder, adding that scheduled operations may stop altogether, unless more fuel is delivered in the next few days. Since last week, domestic airlines have faced severe challenges sourcing aviation fuel for their scheduled flights. THISDAY gathered yesterday that Total, a major supplier of the product, imported two ships of aviation fuel, but was

directed to wait until the ships with petrol were discharged. The consequence is that the scarcity of aviation fuel would linger for some time. In response to the scarcity, foreign airlines have devised means of fuelling their aircraft outside Nigeria and only top up on arrival in the country. THISDAY learnt that as a result of this, many passengers might not be accompanied on their flights by their luggage, as the foreign airlines are forced to drop the luggage in order to carry more fuel, much to yhe displeasure of passengers when they arrive their destinations.

“BA takes fuel from London and sometimes they stop in Malta so to avoid refuelling in Nigeria, even though they have a supply contract. "The other day, Air France came to Abuja and met with Total. They normally take about 60,000 litres, but they asked for 20,000 litres, which is like a top up. That is what most foreign airlines are doing now,” an inside source told THISDAY. Another challenge the airlines are facing is the delay in trucking the product from Apapa, which could last for hours and when it arrives the

airport, airlines would wait for another two hours for the product to settle so that contaminants would not get into the aircraft tanks. “Yesterday I called Total and they brought fuel from Apapa but it had to wait for two hours to settle down, otherwise residue can get into the tank and possibly cause an accident,” explained a top official of a major Nigerian carrier who added that passengers should stop blaming the airlines for flight delays or cancellations at this time because the situation was beyond their control.

Also a senior official of Arik Air told THISDAY that the airline gives priority to its international flights and provides them with fuel before its domestic flights, because of the image of the country and to prevent the loss of market share to foreign airlines. “We have kept our New York, Johannesburg and London flights going because there is competition. Everyday we are looking for 850,000 litres to fuel our airplanes. So we give fuel first to London, New York and South Africa flights. “Our London flight takes about 70,000 litres. But we are

an indigenous carrier so we suffer it more and if we go and buy in London, it will be very expensive because we have to buy in foreign exchange. "So the allegation against us by passengers is unfair. We are not saying we couldn’t do better, but the way we are being accused is unfair,” the Arik official told THISDAY. Several operators who spoke to THISDAY, expressed concern that if there is no urgent action to supply aviation fuel in the next 36 hours or discharge ships on Nigerian waters, scheduled commercial operations might be jeopardised.

Chinese goods in 2014. China does also buy some Nigerian crude, but it’s a lot less – $2.4 billion in 2014 (and probably half that today). Commenting on the currency swap, the chief executive of Financial Derivatives Company (FDC) Limited, Mr. Bismarck Rewane, cautioned that what the deal has done is “to concentrate your trade in the hands of one country”. “With the deal, Nigeria will be using the yuan to import from China, while they (China) will use the naira to buy crude oil from Nigeria. And then they (China) will take the oil to sell in the market to get dollars. “So Nigeria’s dollar income will reduce and its imports from the rest of the world would also reduce. So Nigeria will be more dependent on China. That is all,” Rewane said.

Rewane also disagreed with the CBN governor on the impact of the swap on the naira, stressing that the effect would be neutral. “It doesn’t change anything. The man who is going to import from the US, or the man who is going to import a car from Germany, will he need yuan to buy it. We are only playing with mirrors. It does not increase the actual flow of dollars to Nigeria. It only means that our trade is more concentrated in Chinese goods and the Chinese with the naira they get from Nigeria when they buy oil,” the FDC boss added. But another economic analyst who did not want to be named, welcomed the currency swap, noting that in seeking foreign aid for the country, Nigeria’s policy makers over the years

EMEFIELE: WHY YUAN CURRENCY SWAP WILL REDUCE PRESSURE ON FOREX MARKET in a phone interview with THISDAY yesterday that Nigeria was not the only country that had agreed to a currency swap with China, as several other countries – developed and emerging markets – with growing trade volumes with China had entered into similar currency swaps with the Asian country.

He said as the second largest economy in the world, more and more countries are turning to China for business, as the country seeks to make its currency a convertible global currency like the US dollar, the euro, the Japanese yen and British pound sterling. To buttress Emefiele’s point, information provided by the Peoples Bank of China (PBOC; China’s central bank) showed that China had bilateral currency swap agreements with 31 central banks for varying sums at the end of 2015. The countries are the United Kingdom, Belarus, Malaysia, South Africa, Australia, Armenia, Surinam, Hong Kong, Pakistan, Thailand, Kazakhstan, South Korea, Canada, Qatar, Russia, the European Union,

Sri Lanka, Mongolia, New Zealand, Argentina, Switzerland, Iceland, Albania, Hungary, Brazil, Singapore, Turkey, Ukraine, Indonesia, Uzbekistan, and the United Arab Emirates, totalling RMB3.137 trillion. China has a trade volume of RMB10.747 trillion with the 31 countries with which it has currency swaps. Emefiele said: “The agreement on the currency swap with China will definitely benefit Nigeria because the essence of the mandate is to ensure that Nigeria is designated as the trading hub with China in the West African sub-region for people who want the renminbi as a currency denomination. “Also for us, we believe that using the renminbi will improve trade with China, as this will encourage importers to open L/ Cs in the Chinese currency for the importation of raw materials, equipment and machinery from China, rather than other trading regions, so the agreement will encourage trade between both countries.” But when reminded that trade between Nigeria and China was skewed heavily in the favour of

China, he said: “On the reverse, we are working to encourage the export of raw materials to China in order to reduce the trade imbalance. “And we aim to become competitive by improving on infrastructure especially in the area of electricity and ensuring that credit is made available to manufacturers at concessionary rates.” Emefiele, however, declined to reveal how much Nigeria had proposed under the currency swap with China, saying that talks were still ongoing with the PBOC and would be concluded in the next few weeks. But a source in the presidency conversant with talks revealed that the CBN had proposed a swap of RMB50 billion, about N1.98 trillion ($10 billion). “The Peoples Bank of China, however, is unlikely to agree to what was proposed, so we are looking at a swap somewhere in the region of RMB20 billon which is about N792 billion to N990 billion ($4 billion to $5 billion),” the source revealed. On the volume of trade between Nigeria and China, investigations by THISDAY

showed that Nigeria’s trade with the Asian giant has grown in leaps and bounds compared with nine other major trading partners. For instance, in 2014, while Nigeria’s estimated trade volume with China alone was $11.76 billion, the country’s (Nigeria) trade volume with United States, Britain, France, Germany, Turkey, India, Japan, Italy and South Africa combined was $66.8 billion (see table for breakdown on page 1). This showed that relative to the nine countries, Nigeria’s trade volume alone with China accounted for 15 per cent of the total trade with Nigeria’s major trading partners. In 2015, Nigeria’s trade volume with China rose to $14.94 billion, representing 22.2 per cent of $78.56 billion of Nigeria's total trade with eight of its major trading partners. Data on trade with South Africa in 2015 was not available. But from the latest available figures, the trade imbalance between Nigeria and China is significant, as Nigeria is a major export market for China, absorbing $16.9 billion worth of

The southern senators therefore vowed to resist any attempt to deprive the people of the South access to the CalabarLagos rail project. The southern senators reportedly rejected the call for the supplementary bill on Tuesday, describing it as an attempt to deny the southern region of the rail project. However, the contradictory positions between the Senate and the House may further prolong the controversies trailing the budget since its presentation last December, as both arms must agree before further legislation can commence on the budget. Nevertheless, some clarity on the fate of the budget is expected this week, as a definite decision on whether to revisit the budget or wait for a supplementary bill must be taken. Meanwhile, senators from the North-central geopolitical zone, under the auspices of the Forum of North-central Senators, have resolved that one of their own emerges as the next senate president in the event of Saraki’s removal by the Code of Conduct Tribunal (CCT). Saraki is being tried by the tribunal for false declaration of assets when he was the governor of Kwara State between 2007 and 2011. Speaking exclusively to THISDAY in Keffi yesterday, a senator from the zone said: “It is expected that the North-central zone retains the seat because in the present dispensation, the zone only has the Senate presidency allotted to us.”

The senator, who elected to speak anonymously, disclosed that several meetings across political divides had been held recently on the issue. He said: “It is becoming obvious that the present occupant of the seat would likely give in to the pressure coming from his trial at the Code of Conduct Tribunal. “So we have weighed the situation surrounding Saraki’s situation and have come to the resolution that we must work across board to have one of our own replace him. This is in the spirit of political correctness and inclusion. “When you look at the crop of senators from the zone, we have experienced lawmakers comprising ranking and knowledgeable senators capable of administering the Senate. Some of us have combined experience of both being in the executive and now as legislators. “Agreeably, the zone parades the best crop of lawmakers in the present Senate and it is rightly expected that we retain the leadership of the Senate at this crucial time. “What we have done is to look at individual senator’s profiles and taken crucial Senate service requirements into consideration and I can tell you that we have a consensus on who is most suited for the job. “It is in the overall interest of the zone to keep the seat without any compromise at this point in time and this is what we have decided to do regardless of political affiliations.”

UDOMA MEETS SARAKI OVER BUDGET IMPASSE that the executive must send a supplementary bill if it considered the project to be vital.

The House, after its meeting, had mandated its Speaker, Hon. Yakubu Dogara, to meet with Buhari with a view to resolving the grey areas in the budget. Consequently, Dogara reportedly met with VicePresident Yemi Osinbajo on Friday while Buhari was still in China. It is believed that as a follow up to the meeting between Osinbajo and Dogara, Udoma met with Saraki and other leaders

TOP GAINERS NGN NGN SEPLAT 21.85 332.15 UACN 0.97 19.40 STANBIC 0.65 13.65 FIDSON 0.10 2.10 DIAMONDBNK 0.06 1.30 TOP LOSERS NGN NGN CONOIL 1.95 18.15 PZ 2.28 21.22 AGLEVENT 0.04 0.76 FO 14.66 278.57 MRS 2.35 44.83 HPE Nestle Nig Plc ₦640.01 Volume: 437.84 million shares Value: N6.11 billion Deals: 2,647 As at Friday 16/04/16 See details on Page 39

% 7.05 5.26 5.00 5.00 4.84 % 10 10 5.00 5.00 4.98

of the Senate with the intention of securing upper chamber’s support for reconsideration of the budget without necessarily sending a supplementary budget. But THISDAY learnt that the meeting did yield the expected result at the weekend, as the Senate leadership insisted that the executive must follow the laid down constitutional procedure by sending a supplementary budget since the Appropriation Bill has been passed. However, the decision taken by the Senate during its executive session last Tuesday that it would not revisit the 2016 budget, except through a supplementary budget, has not gone down well with senators from the southern section of the country, who later distanced themselves from the decision. In the view of the southern senators, the president should not sign the Appropriation Bill until the joint Appropriation Committees of the Senate and House include the Calabar-Lagos rail project in the budget. Against this backdrop, senators from the South-west, South-south and South-east geopolitical zones reportedly met in their respective caucuses last week with a resolve that the project was deliberately removed because it benefits the southern section of the country. Their position may have been strengthened by reports that the Appropriation Committees headed by two northern lawmakers diverted allocations to some projects to the North.

Continued on page 10

RETURNS ON FOREX UTILISATION FOR APRIL 11-15

RANKING COMMERCIAL BANKS Standard Chartered 1 Bank 2 Zenith Bank 3 Stanbic IBTC

AMOUNT ($)

18,652,838 16,691,793 15,908,026

Guaranty Trust Bank 14,808,285

FirstBank Nigeria

14,163,477

Diamond Bank

13,819,849

FCMB

13,358,244

8 9

Ecobank Nigeria Access Bank

13,252,922 12,947,266

UBA

10,723,899

Sterling Bank

7,708,198

Fidelity Bank

7,236,940

Union Bank

7,095,657

Wema

4,247,939

Unity Bank

2,993,684

Merchant Banks 1

Coronation Merchant Bank

3,084,382

Rand Merchant Bank

1,183,415

TOTAL

177,876,814

T H S D AY • MONDAY APR L 18 2016

Mothers Write Heartbreaking Letters to Daughters Stolen by Boko Haram

STARTERS

Two-Minute Briefing NEWS OPEC, Non-OPEC Deal Faces Fresh

Letter from Martha Enoch to her daughter, Monica Enoch Life has been difficult without you these last two years. My life is in discomfort and

He was of the op n on that by w den ng the scope of the country s nternat ona fr endsh p and n part cu ar by the estab shment of d p omat c cu tura trade and other mutua y benefic a re at ons w th Ch na N ger a had taken the r ght step “The fore gn po cy of N ger a shou d be ndependent and shou d be gu ded by the fo ow ng pr nc p es the promot on of econom c re at ons w th a nat ons of the wor d co-operat on w th a nat ons of the wor d n so far as they respect the dea s for wh ch we stand respect for the sovere gnty of nat ons and non- nterference n the r domest c affa rs and attract on of fore gn ass stance (cap ta techn ca sk s and tra n ng opportun t es for N ger ans) on the most advantageous terms ” he sa d Meanwh e the CBN ast week s ashed the amount of do ars a ocated to commerc a and merchant banks to $177 876 814 compared w th the $189 489 057 t a ocated n the preced ng

Email davidso

to protect oil and

Letter from Rebecca Samuel to her Daughter, Sarah Samuel

You were on y e ghteen at the t me o your abduct on By now you wou d be twenty years that means t s been two years s nce you were taken rom me I am su er ng I am b tter I cry every t me and I am pray ng and ast ng Many th ngs are hard and we are ust manag ng e I know and be eve n God that there s st e one day we w see you aga n Peop e say that the [abduct on] s a e but t s true I want to te them that t were the r ch dren how wou d they ee ? The 219 ch dren have not returned s nce then I not because o God s grace we a wou d have d ed Some o us [parents] got hypertens on wh e others got d erent nesses because we were th nk ng about our abducted ch dren I you were dead we wou d have cr ed and been ab e to move on But we do not know you are st a ve or dead That s why we are

worr ed I cry and my heart s b tter every n ght I am pray ng that you are a ve God shou d rescue you I be eve God w save you As your mother I am begg ng God or you to cont nue pray ng wherever you are I want to te you to be strong and cont nue pray ng I ost everyth ng I ost everyth ng when I ost you From your mother Rebecca

Letter from Esther Yakubu to her Daughter, Dorcas Yakubu

Apr 14 2016 It has been ong I heard rom you How are you and your r ends wherever you are? Hop ng that you are do ng better or manag ng e and I know that the ange o the Lord A m ghty s w th you and He w cont nue to be w th you wherever you are You don t know - you don t have any dea o the p ans I have been p ann ng or you a th s wh e From b rth I ve been p ann ng or you your e your educat on your hea th be ore you were k dnapped Be ore marr age I wanted you to go to the un vers ty because I have not been there My hope s that you w be a ash on des gner as a woman I had even bought a sew ng mach ne or you and a trave ng bag and some set o c othes But up t now or two years I have not seen or heard anyth ng rom you But I wou d ke to adv se you wherever you are p ease be strong n the Lord and He w see you through I know I m ss you but I have the heart and I have the hope that one day I w see you aga n I be eve that one day I w u fi my prom se to you and I w see you aga n and my happ ness my oy my e w be comp ete w th you and I w be a happy mother aga n The Lord s your strength and I have that hope n me that I w see you aga n and I w re o ce n the Lord A m ghty From your mum Esther Yakubu

week as the country s externa reserves dec ned The country s forex reserves wh ch stood at $27 858 b on on Apr 1 deprec ated by $408 m on to $27 450 b on ast Thursday The dec ne n forex a ocat on to the banks by the CBN was attr buted to the dea struck by the N ger an Nat ona Petro eum Corporat on (NNPC) and nternat ona o compan es (IOCs) on d rect do ar sa es to o market ng firms a med at address ng the fue shortage n the country Of the $177 9 m on so d to 15 commerc a and two merchant banks Standard Chartered Bank N ger a w th a tota of $18 652 838 rece ved the h ghest a ocat on of forex from the centra bank The bank so d the greenback to 227 customers compr s ng those mport ng ndustr a raw mater a s and others who pa d for schoo fees overseas among others Standard Chartered was c ose y fo owed by Zen th Bank wh ch was a otted $16 691 793 Zen th Bank had a tota of

372 corporate and nd v dua customers on ts st A so Stanb c IBTC w th an a otment of $15 908 026 came n th rd Just ke the prev ous weeks 51 customers that featured on Stanb c IBTC s st purchased do ars from the bank to ex t N ger a s bond and equ t es markets Guaranty Trust Bank P c (GTB) w th $14 808 285 he d the fourth s ot F rstBank N ger a w th $14 163 477 occup ed the fifth pos t on wh e D amond Bank w th returns of $13 819 849 fo owed n s xth p ace F rst C ty Monument Bank L m ted he d the seventh pos t on w th returns of $13 358 243 reported ast week wh e Ecobank N ger a occup ed the e ghth pos t on w th returns of $13 252 922 An assessment of ts forex sa es to customers dur ng the week showed that D amond Bank had a tota of 310 corporate and nd v dua customers Some of ts maor customers that bought arge chunks of forex nc uded Dangote Cement ($2 552 m on) Bua Sugar Refinery L m ted ($1 m on) and Dozzy O and Gas ($3 167 m on)

Davidson Iriekpe

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0811181308

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ED TOR AL

A 16

POLITICS

T H I S D AY

˾ MONDAY, APRIL 18,

2016

Chibok Story The Politics That Shaped the Chibok The moment the abduction of the Story 234 secondary school girls took place in Chibok, Borno State, it ran straight into the web of local politics and through the sheer mismanagement of that critical T security matter... Page 16 THE MO N D AY

I have been v ng w th hypertens on s nce they sto e you rom me on Apr 14 2014 We m ss you whenever we remember the ro e that you p ayed n our am y espec a y your s sters You were so k nd and so spec a because you touched the ves o everyone that met you Our prayers have never ended or you and we st s ng your avor te choruses that you wou d s ng n church We s ng them every morn ng and every even ng n Hausa and we remember your vo ce I a ways end up n tears I wanted you to be a doctor and n act we have n cknamed [our other daughter] doctor because o you Your ather had a dream where he saw you wa k ng up a adder to heaven My hope s that I w see you here on earth aga n but I do not I know you are n heaven P ease serve God a th u y and I pray that God br ngs you back to me I m ss you my daughter From your mum Martha Enoch

News Editor

n.iriekpen@thi

Adesina: Buh ari Didn’t Take Any Loan Fayo

POLITICS The Politics That Shaped the

EMEFIELE WHY YUAN CURRENCY SWAP WILL REDUCE PRESSURE ON FOREX MARKET had a owed hemse ves “ o be ed n o a b nd a ey by N ger a s Wes ern mas ers and men ors”

I S D AY

Babangida Repo rtedly Seriously Ill

Pesponsibility These are not the best of times for most Nigerians.Workers are owed salaries for several months, even as petrol and electricity supply have become essential commodities at a time unbearable heat. Page 15

The abducted Ch bok schoo g r s

18, 2016 • T H

OPEC, Non-O PE over Saudi, Ira C Deal Faces Fresh Hurdl e n Tensions FG mulls pipe line security force

Tobi Soniyi in Abuja and Ejiofor Alike in Lagos the agreement wit agency seen reports thereafter contained by Reuters return to the oil market: none of the binding points “If of the previous freezes its oil production Iran Osinbajo has said The global deal the federal ... it governme cannot benefit between the outline. other Organisation The draft of sanctions.” from the lifting establishingnt is considering across oil and gas installation of Petroleum s weekend Exporting Countries a permanent pipeline the country. producers in indicates that when he visited Meanwhile, VicePreside security force and outside (OPEC) OPEC In a statement and non-OPEC the Forcados to stop vandals nt Yemi from should agree damaging pipelines media aide, Mr. yesterday by his Delta Stateexport terminal in to freeze freezing crude producers on production Laolu Akande, oil output faces on the instruction at “an agreeable oil and the vice-presid fresh hurdles with level” as long as ent spoke at the Cont’d demand yesterday Saudi Arabia’s and major all OPEC countries on page 57 join the agreement that Iran must participate exporting nations d. to end the glut in the oil market According to and stabilise prices. the agreement a draft copy of , the cap would The meeting last until October between OPEC and 1 and non-OPEC producers would this year, then into last-minut producers ran again in Russia to review meet e Quatar, yesterdayhitch in Doha, progress their in looked like a new due to what document engineering what the between Saudi spike in tension recovery called “a progressive Arabia and Iran. of the oil market." Some 18 OPEC No final agreement and non-OPEC countries, including was reached yesterday morning Russia, met speaking on the draft. But to freeze output in the Qatari, meeting to journalists at the until October at January levels acting Oil yesterday, Kuwait’s 2016. Minister, Anas Khalid But Reuters reported that al-Saleh, said he was confident the meeting was postponed a cap would be agreed. after OPEC’s Yesterday’s de facto leader, Saudi Arabia, would see OPECtalks in Qatar told - and unusually it wanted all OPEC participants other producers members to - try to agree take part in the freeze, according that the average daily crude oil to OPEC sources. production in the coming months OPEC is made would not Angola, Ecuador, up of Algeria, in January.exceed levels recorded Iraq, Kuwait, Indonesia, Iran, A senior oil industry Libya, Nigeria, Qatar, Saudi Arabia, source said: “The problem the United now is to Arab Emirates come up with L-R: President, Asian and Iran did not Venezuela. excludes Iran, something that Finance Development Bank make the Saudis and Public Credit, (ADB), delegation to send a full happy and Colombia, Mauricio Takehiko Nakao; President, MeetingsoflMF/World doesn’t the meeting, African Developme Cardenas, during insisting it would BankBoardofGovernors Failure to reach upset Russia.” the not accept a global deal proposals to inWashington...w opening of plenary session ofnt Bank (AfDB), Akinwunmi Adesina; - the first in cap eekend the Global lnfrastructu 15 years between and until it recovers its production OPEC re Forum 2016 atMinister of and the Spring share to what a similar market would signalnon-OPEC nations the resumption AbiodunAjala United States-led it held before battle for of a market sanctions share were imposed on between it over its nuclear key producers and likely programme. halt a recent recovery in The country, Saudi Arabia has prices. instead, taken a tough sent stance its OPEC Governor, on Iran, the only major OlakiitanVictorinAdoEkiti Kazempour Ardebilli, Hossein OPEC producer distracted.” according to have refused to a report by The presidency Iran’s news agency, to participate in the Responding in 2019. Shana. yesterday said Deputy Crown freeze. President Muhamma whether Buhari to a question on The Prince, did Riyadh had earlier and Lagos –Kano Mohammed not discuss the du Buhari two weeks in will spend up to added former federal lawmaker bin insisted on excluding Iran the economy of rail lines to boost issue of loan the country “before that “how would Bloomberg that Salman, told during from taking off again,” his week-long the talks the kingdom the our governor the country. Does governor had because Tehran Adesina felt, if There had been trip to China. if the need think had refused to could quickly raise production stabilise production arises to travel, said Progressives Congress the All have no relevance these projects reports that and would restrain Nigeria would (APC)had as the written similar president will to our existence its to regain market , seeking only if do a nation? letter Iran agreed to output $2 billion from borrow at least share after “The president so. Bank of Nigeria to the Central China to finance the lifting of a freeze. the “Though, I won’t Iran’s Western (CBN) seeking 2016 budget. on these trips in is embarking the stoppage like to blame against it in January. sanctions Zanganeh, Oil Minister, Bijan him, because of N9.2 billion But speaking when said on Saturday country, so if the interest of the given to bailout governance Fayose did not see However, a he appeared what will prosper that as a guest Fayose’s governmen new draft of OPEC and non-OPEC on O and M Sunday Nigeria abroad requires t to , but just as a serious business pay workers’ should simply accept salaries?.” a means of political him to the reality of Iran’s Show on the Africa Independen travel, he will. Faparusi, who Television (AIT), said this in a survival and patronage t “Let me share statement . That was why he has the Special Adviser to the President been promoting During the last this with you. in reactionin Ado Ekiti yesterday commercia Sallah celebration on Media and Publicity, Femi in Fayose andto a letter written by business l motorcycle (Okada) Adesina, said September, the president travelled submitted at in nothing of such the institutiona Ekiti State rather than Chinese Embassy happened, adding to Katsina in the morning, that g the trip ended lizing in Abuja last took part he Thursday, empowerment concrete youth stated that Fayose’s investment worth up attracting 2p.m, he in the activities and by action programmes was on Davidson Iriekpen because $6 billion to is the country. United States to his way to the more of gradually becoming brain that was how far his to walk unaided could carry “The issue of loan at the United represent Nigeria against personal animosity without a Former military President didn’t arise “If Fayose has him. Nations General president, General stick or the assistance of his walking during the president’s been a political Assembly. partisan politics. Buhari, than tactician Ibrahim Badamasi security China, personnel. trip to as he normally not even an emergency “Now, if not claimed The (rtd), is reportedly Babangida to APC be, he should chieftain said for The illness of the loan was discussed. seriously ill, have been his country, will for the love for to have traveled Fayose former source close to to China at a time to discern that he has been able his hilltop mansiona president became public military “The president have stayed backthe president not rejected President Buhari in Minna, the last week went there even by the when he attended to celebrate with Niger PDP, because was on the valedictory signed agreements that wereand his family?” He asked. business trip informed THISDAY State capital, dinner that would benefita party had zoned vice-preside the the interest of Nigeria. for the former in yesterday. Sequel to a the nation to Niger State ntial position According to We letter Chief Judge, Justice Fati Lami know that this president should Chinese Governmen written to the nation’s constitute a cog in despite to the South-east for 2019 former military the source, the Abubakar t by Governor knows wheel his noise all what is good and was president has further amplified of progress, for the country,” Fayose seeking to stop been ill for a “Fayose must over the place. the venue before aided out of he said. while, resulting how allegedly the $2 determined billion loan come to a the end of the his inability to in event. realisation being sought and desperate attend most public On the letter which President by the position that vice-presidential functions. Governor projects Buhari to finance some governor had become It was said that is not for all comers, about Babangida now Ayodele Fayose of Ekiti State his rumoured in the but THISDAY could vice-presidential for those who have the intellectual not ascertain travels to Abuja frequently where to the Chinese Governmewrote member of the 2016 budget, a ambition. the real cause acumen and he receives medical nt to of Representat seventh House stop the purported of integrity that attention “Aside from the the source apart his illness, but has cut can influence the ives, Hon Bamidele down on receiving and said: “Every nation loan, Adesina Faparusi fact from country that saying Fayose positively expended over , has described that at his home. it was age-related, has a room for in the comity visitors comic N50 million of the action as a serious act relief. If someone his PDP upon of nations and the former military added that the of treason against state money on his misadventur chooses The source also realising this e to turned China, he also committed said he has to be so idle and be entertaining the nation. quickly be suffering frompresident might emaciated the others, table a another a lot relapse against so be it. and Faparusi said of the him. radiculopathy “As much as it marvels every million to send his Chief of Staff, N10 Babangida was also looks pale. disease which “I am sure so I believe in Nigeria’s military Dipo Anisulowo, and has troubled the former many people Nigerian that Fayose could take other 10 government individual’s rights laughed when Nigerian leader president for eight years, but opposition against his to they since he was was forced to stepped Buhari to that officials, including some lawmakers association and freedom free head When asked saw the letter.” ridiculous down after he to Abuja According to of state. annulled also reacted if the president of politics, extent all in the name Chinese to submit the letter at the expression, Fayose should of to Fayose’s letter urging all well-meanin Babangida most the source, election the 1992 presidential not also be oblivious Embassy . with laughter, Adesina believed to have times is unable Ekiti State to advise g “What does the presidency of the fact that been won by the late said: is Chief MKO Abiola. president is a serious-min“The against dragging the governor if the Chinese Fayose tend to lose of our nation and the symbol the name of Ekiti Government accedes ded State person who chooses any attempt to desecrate not to be allegedin the mud to advance his to President Buhari’s it would mean request? President vice-presidential a ambition intention Buhari had revealed his commission of treason offence, which has to construct Calabar-Lag os under the a dire consequences law.”

EDITORIAL Mr. President, Please Take

On April 14, 2014, 276 girls ages 16-18 were kidnapped by Boko Haram insurgents from their school in Chibok, Borno State. Fifty-seven of them courageously escaped on their own. Zero has been rescued and 219 remain in the hands of the world’s deadliest terrorist organisation whose members force grown men to swallow bullets for breakfast and utilise women as detonating weapons of war. April 14, 2016 marked two years in captivity. Yet, #HopeEndures. I am an attorney and the Founder/ Executive Director of Pathfinders Justice Initiative, Inc. (www.pathfindersji.org), an international NGO which seeks justice and provides rehabilitation for survivors of child sex abuse, rape and sex trafficking in the developing world (primarily in West Africa). I am also an activist and an organiser for #BringBackOurGirls, the global movement demanding the rescue and rehabilitation of the Chibok Girls of Nigeria. I am Nigerian. I am a mother. Over the last week (April 4-9, 2016), I had the honour of walking with the families of three of the abducted Chibok Girls in an effort to document their lives over the last two years without their daughters. I am honoured that they have trusted me with their truth. The result is this photo essay entitled, “Letters to Our Daughters: #HopeEndures”. It is comprised of photographs reflecting the hollow reality of life for mothers Esther Yakubu, Rebecca Samuel and Martha Enoch without their daughters, Dorcas, Sarah and Monica. The excerpts are captured below:

MONDAY APRIL

NEWS

Hurdle over Saudi, Iran Tensions The global deal between the OrganisationofPetroleumExporting Countries (OPEC) and non-OPEC producers on freezing crude oil output faces fresh hurdles with Saudi Arabia’s demand yesterday that Iran must join the agreement to end the glut in the oil market and stabilise prices. Page 10

DISCOU

Group Politic s Editor Olawa le Olaleye Email wale.o laleye@thisda ylive.com 0811675981 9 SMS ONLY

RSE

The unfortunat e kidnap of been mismanage some d by sheer local secondary school girls two years ago politics, write in Chibo Shola Oyey ipo, Segun James k, Borno State, may have and Jameelah Sanda

FEATURES Dumebi Okonta: The Sad End of a

he moment the abduction 234 secondary of the place in Chibok,school girls took Borno State, ran straight it politics and into the web of local through the mismanagement sheer security matter, of that critical the fate were sealed – sadly, in badof the innocent girls for former president taste. Unfortuna Goodluck Jonathan, tely, mood of the the room for fair nation at the time did not give crucified beforehearing. He had already been to the den of the girls were even delivered their abductors What many . would propaganda machine of thedescribe as the the All Progressi now ruling dominated public ves Congress (APC)party, had discourse, with and minds strategical agenda set direction. Therefore ly swayed in their choice , the amounted to nothing butJonathan account their estimatio sheer baloney in something wasn. Yet, many could bet that curiously amiss as being told in the story A few days about abduction of shed some ago, Governor Kashimthe girls. more light on Shettima, that have hitherto some coloured the of the areas that typifies propaganda “I was too the Chibok debate, when weeks after busy to call Jonathan he said the for Immediately, Chibok abduction.” three the abduction public knowledg e and the Jonathanbecame government federal section of the was unable to do anything ,a by the APC public as allegedly instigated the president media machine pounced for what many on being both described as insensate and development. Indeed, theinsensitive to the to town, cashing governor including visiting in on the slant of went debate, Lagos to meet categories of with his own story.the media to exoneratedifferent and tell But something which the APC was fundamentally missing and their allies society failed in the governor to address: it was the the civil fact that process of themismanaged the informati abduction, reports would to the extent on later that come conveying that the vehicles the way andthe girls developed a problem on hour fixing that they were there for it with no one over doing anythingan .

Youth Corps Member The outpouring of unrestrained emotions generally characterised beyond. Like the news of his sudden death, his ride to his final resting place attracted people from all works of life across the T country. Page 20

FEATURES Dumeb O kon a The o a You h Sa Co ps Mem d End be

BUSINESS Pension Fund Operators Project

N20trn Assets in Eight Years Pension assets will hit the N20 trillion mark in the next eight years, up from the current N5.32 trillion, the Pension Fund Operators Association of Nigeria (PenOp) has said. Chairman, PenOp, Mr. Eguarekhide Longe... Page 23

CITYSTRINGS Beware of Swindlers

he made such a conclusio he spoke, n, as at was sure ofhis confidence showed the time ever findingwhat he said. Thus, the that he the girls was hope of when President mired Muhammadu in disbelief on national Buhari said presidential television during his intelligence media chat that he maiden on had no What was to the whereabouts of the finally seal off girls. that had sustained the ray of hope the unending by Nigerians the safe returnand the rest of the demand world for of the girls, president, Chief was when former Olusegun Obasanjo out boldly on Friday, came February 7, the girls were 2016 to say “Nobody not likely to return alive. are nowherecan bring back the girls promising to to be found. So, if any for they leader is bring back lying. Majority Chibok while those aliveof these girls would girls, he is have died, would have and others will been married be victims off and human trafficking. of sexual violence “Nigerian the populaceleaders should stop deceiving as Chibok girls again. The disappear cannot return ance of the Chibok is as a result of the nonchalan girls previous leaders, who did not t attitude of the immediately, swing to action which constitute to their return. d impedime nt “Seventywere adoptedtwo hours after the Chibok girls less getting was too late for their said when itto two years by April,”rescue, talk Obasanjo was exactly incident during 663 days after an the interactiv of the Obafemi e programm e Club tagged Awolowo Universit y, Ife Staff An evening Reflections of an elder statesman with : Like him, hate OBJ. him, not a consider Obasanjo few Nigerian a man wi

CONT’D ON

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Quick Takes

FirstBank Organis es

NEW WATER

FACTORY

L-R: Vice President, Mr. Marco SettembriProf. Yemi Osinbajo; Ona of Abaji, factory at Abaji,Abuj and Managing Director, Alh. Nestle Nigeria Adamu Babayunusa; Chairman/ a…recently Plc, Mr. Dharmesh Chief Gordhon , during Executive Officer Nestle the inaugurati Waters, on of Nestle Waters’

Pension Fun d Assets in Eig Operators Project N20trn ht Years

Forum for Entrepre As part of efforts neurs Enterprises (SME) to build capacity amongst players and Small and medium scale businesses in deepen the development of medium Director, Gbenga Nigeria, First Bank’s Deputy small and across various Shobo will play host to over Managing 100 SME entreprene business sectors EDC/FirstBank at the maiden urs You”. The event SME Breakfast Series titled: edition of the 2016 will take place “The Economy FirstBank commence in Lagos tomorrow. and d the gramme, The Economy & You! sponsorship of an SME Radio entrepreneurs in 2015 and it has featured proprogramme is since its debut. The overarchin over 30 to educate, inform g objective ness owners of the and build capacity by needed to growproviding them with the informatio for small busitheir businesses n and resources The weekly programm . e focuses on experts, accomplish live interviews ed SME entreprene of industry take listeners urs and regulators through the process of opportunit who of identifying ies and making use in the economy. that abound for small and medium businesses Discussions plans, budget, also dwell on how SMEs deal with tax can prepare The breakfast business issues and governmen session with t policies etc. the bank’s interaction FirstBank’s with SMEs and DMD would strengthen support their provide practical business. According to help to platforms to Shobo, the SME market is one of the stimulate economic development. bank’s strategic Hollandi a Yoghurt Introduc

Chi Limited, Nigeria’s es New Pack market leader drinks has introduced in fruit juices the new 315ml and yoghurt pack allows consumers ‘Grab ‘n’ Go mixology to enjoy mixed with their pack. The preferred drink.their favorite Hollandia Ebere Nwoji yoghurt The mixology who love to mix Grab ‘n’ Go Pack is already INSUR ANCE a drinks as the Pension assets Hollandia Yoghurt smooth texturehit with consumers the fund. will hit N20 trillion Government The Hollandia goes well with one’s chosen and great taste of mark in the the He said one governments is said to be eight years, next owing of the ways the go fun as Mixology Grab ‘n’ Go Packs beverage. have invested up of money they the N5.32 trillion, from the current Rights over N20 billion Accrued growing the fund is through in infrastructu prismatic shape are light and handy, with are also great for on the Pension Fund of workers promotion re to have Operators Association posed to transfer which it sup- to increaseof micro pensions impact on the local economy to be seen with. and an attractive screw a specially designed of Nigeria cap that you (PenOp) has Pension Scheme to Contributory contributo the number of and a good example feel proud Commenting said. is Lagos State fund on rs the Chairman, into managers governme new through PenCom. Limited, Mr. Deepanjan product, the nt,” PenOp, He noted that the scheme. Managing Director He argued that he said. Eguarekhide Roy said: “We many Nigerians that our loyal The Longe, who Mr. Chi are committed consumers continue Fund Administr as a Pension made money non-transfer of the complained that pension the disclosure to ensuring from our products. ator (PFA), the at fund pension to get value has been truncating investment organised by a media retreat the Our and has customers fund satisfactio with not made managers cannot smooth running the new Hollandia the the desired are n be held responsibl Lagos, also hailedassociation in existing impact in Mixology Grab being offered great value of the them a tasty e for what the governmen ‘n’ Go packs which and nourishing Pension Commissiothe National scheme contributory pension economy especially in t does with option provide According to the area that of infrastructu and payment n (PenCom), money him, mixing drinks to mix with other beverages the industry it borrowed of benefits ral developme to the workers Hollandia Mixology regulator, for . ”. and pensioners explaining pension industry nt, Longe said latest decision Grab ‘n’ Go Pack.just got better with the its “ Consumers ideally, money new pension fund in asking the concerned. or that is federal governmen managers cannot borrowed est taste just can now enjoy the smoothest Longe said t to transfer the long term shouldfor reasonable pension fund be blamed for that its subvention managers favorite yoghurt way they like it with a handyblend and the greatsituation. develop reasonablebe used to 315ml pack payment of for the year into compromi cannot in any way According to over 70 per Yoghurt ‘Mixology”to mix with a variety Accrued Rights of pension cent se in protecting of beverages of their 315ml pack is workers who fund is currently project and should long term . Hollandia the currently available worked for of already accumulate to fund recurrent not be used ernment and govd asset from invested in government across Nigeria. NCS were transferred contributors but would bond. Presiden expenditu “It cannot be re, “What has governmen from the old blamed on the guard its safety jealously The President t Visits NCC t done with all the money through wise industry but on the structure contributory scheme to the and Aderounmu last of the Nigeria Computer profitable pension scheme. of the country Society (NCS), from institutiona it borrowed week, visited because there develop new investments and over Nigerian Prof. the Sola l Executive investors. Communic is 70 per cent ways of growing instance, if you Vice Chairman For ations Commissio Danbatta as borrow $2 billion of the in governme of pension fund n (NCC), Prof. part of NCS’ nt bonds. Some Umar Garba advocacy In his opening 20 address, Aderounmprogramme. 40 Continued to work with u highlighted on page 24 NCC in the areas NCS’ readiness ment, as well as local content of advocacy, research and Technology (ICT) and Information developand Aderounmu innovation and empowerm Communications ent. participation also reiterated the importanc in Eromosele Abiodun e of commissio July 19th to 21st the coming NCS conference THURSD n’s T Hplace taking 2016.The collaboratio I S DAY, APRIL inAY NCC to showcase Abuja • MONDAY on 14, 2016 ECONO MY • T H18, , APRIL and exhibit its n, according to him, will enable ISD McKinsey AY participants 2016 products to over 81 per cent and by has projected and Company number of Africa’s private two thousand Danbatta in his extension, the entire world. Acting generics had spending in that consumer annual of households with consumption in 2011. collaborate and response, Featur expressed gained market Nigeria and “The bottom Editor es the willingness partner share Editor other (N995, incomes above $5,000 major economies since NCS line issue, research of NCC to Charle s Ajunw on many areas, here is that 2004 over branded Email 000) will increase the perception on the African Email especially charle products continent will a of Africa as local content from locale 134 million s.ajunw empowerment. and development, ICT increase from Innovation a medicinesand over-the-counter to 166 million of trillion (N358.2 $1.8 2020. /Incubationa@this daylive.com . by rapidly raw resources only is and changing. Global The report gave to $2.4 trillion trillion) in 2013 While stressing (N477.6 trillion) the example that urbanisa- are taking part in what firms from Nigeria in 2020. tion will be of Merck, the Wall imports Street Journal the driver of McKinsey terms a “new only the active which growth, the gold maceutica pharmanagement is a global would McKinsey said there rush” to cash in on the l ingredient African diabetic be 1.5 million consulting firm consumer. It for its that serves leading households includes the drug. The company’s in Lagos with USbusinesses, incomes between based big-box-store governments, “Federal Governm Wal-Mart’s local partner, it added, presses $2.5-billion non- govern- $20,000 (N3.98 million) the tablets and mental organisati dollar purchase ent of $70,000 (N13.93 and Nigeria’s is responsible of for packaging ons, and million) by 2030. a 51-per cent stake collaboration not-for-profits. “The African in South . with the South market opportu- African retailer Massmart While McKinsey nity is concentrat as opportuni pointing out that government Korean ed with 10 of a prime example,” the entitled, ‘Africa:in a study 53 countries ties to may report enhance stated. A Continent arise in – Algeria, consolidation of Opportun eGovernment ity for Pharma Egypt, Ghana, Kenya, Angola, Encouragingly in Nigeria is a report noted in Nigeria, the and Patients’ Morocco, welcome developm Nigeria, South for local that most of added that 400 new Africa, Sudan manufacturing, the the the and Tunisia ent” report South pharmacies opened stated that – accountin in in Nigeria President, Associatio Africa since g for six and 2006 were other African n of Telecoms Companies of economies, Nigeria (ATCON), Continued Mr. Lanre Ajayi on page 24

‘Consumer Spe Countries to nding in Nigeria, other African Hit $2.4trn in 2020’

The world class Information Technology market, known as ComputerVillage in Ikeja, Lagos, is a Mecca of sorts. Hundreds of people from different walks of life troop to the ITmarket on daily basis to transact one business or the other. Page 40

FETY CI ATST URRIES NGS Beware of Sw indlers

Peter Uzo ho swindlers have who visited the popu lar Compute infiltrated the r Village in market Ikeja, repo rts that

”

The Computer

Village, Ikeja

The world class Informat market, known as Computerion Technology Lagos, is Village in Ikeja, a Mecca of sorts. Hundred s of

Apart from commercia being a the mark l centre, et is also social settin a g where different and actio behaviours displayed.ns are In the market, eggs, thethere are bad miscreants and the crimi nal minded-hu stlers mostly youn , g boys, who have look for come to survival,a way of either by hook or by crook. They swindle custo mers on a daily basis

INTERNATIONAL 77 Killed in Ecuador Earthquake

Ecuador launched rescue operations yesterday after its biggest earthquake in decades killed at least 77 people, caused devastation in coastal populations and left an unknown number trapped in ruins. The 7.8 magnitude quake struck off Ecuador’s Pacific coast on Saturday night and was felt around the Andean nation... Page 50

people from different walks to the IT market on daily basisof life troop at the one business market. “The to transact Around the or the other. typewriter market evolved repair and law enforcem market are offices as a environm maintena of different but the emergence ent where Police, the ent agencies; the conventio of computer nce centre, both typewrite all manner National r and computer now brought meet with different line nal sellers of people Defence Corps Security in this engineers and individual character, of business, different and the Kick and Civil as discipline Computer location that’s now attitude and Computer Against In(KIA) and known and GSM intention. Their men other “I came into Village. have at their phone wizards, are strategica security outfits. this market arrest hoodlum fingertips, years who lly computer in 1999, about solutions s who may positioned to startedago and I met a or GSM faults, intimidating to any 17 their lot of people coming are there plying trade. crowd within cash in on the here. I to cause trouble. the IT market 1993, and some here during my IT years One of such is Abdulah in technicia At the Compute then, but they people had been i Ishola, a n, found were not many. here before Plaza, r Village, computer GSM having the all kinds We started displaying in his desk at Idowu influx of of accessories hardware, phones his technical and their and 2005, after the people between 2003 while trying are sold, dexterity services rendered to fix emergence and maintena Nigeria. That of GSM in Although he admitteda customer ’s phone. was when nce as 7am, business at the market. said that there the Igbo traders the market As early started relocating activities is big, he their large was little difference numbers, with begin. People in staying to come intofrom where they were Computer Village between troop into phone so, different as that’s markets a sales here. And market in the country, market and other or the other.the market to do one motives, this,” he how this market blossome Customers said. business d like patronagoperations andexcept for its daily choosing lurk around When THISDAY their preferred the internatio shops, Enterpris e it haggle for nal items, and “Computer attracts. prices. es, which isvisited Ibeto Treasure then village “Comput plazas inside situated in one of the are sales of phones, is a big market. There gathering er village is a place was buzzing the market, the environm laptops, and laptop with activities phone businesses, of engineers and sellersfor the village ent a lot accessories,” said like computer Ishola. “There and . “Comput of of IT markets is one of the and some office-rela er the onlythings here just like desktops, are leading computer other markets, thing that copiers, scanners, ted devices, like laptops, market in West Africa. It is an that international it’s a daily market makes it different printers, fax machines and so on,” is that who deals is well-known,” and people other countries , typewrite rs, accessorie on wholesale andsaid Paul Ibeto, patronise works with said Onajobi Olayiwol of the world come from retail of GSM s. “You have a, who going to come and us a computer MDKoffi Tech and on here with diversity of businesses we render andhere because of the the largest outlet at the market. Systems, and technolog service the regard to computer information selling. So, there kind of products of West Africa market in “This is we’re is nothing “Those who y business,” he said. about it than the whole more special and even may be hearing Africa”, Olayiwol market the Sub-Saha According that,” he said. about a added. ra not as for the first time He said the may think this market is not to him, the largeness big as said, market used for typewrite measured it’s location, of the to be a place here, they will believebut when they r repairs come customer but rather by by the size of its but the emergenc and maintena village is that, really, the a big market. population computer s and nce, e of computer of “The size of by the volume of engineers computer brought both local and internatio So this is where sales. and sellers this market by size is together are done on daily basis,”nal IT businesse s we havebut by the populatio not measured Computer n of customer here every Village is Ibeto added. s rate of day, a commerc ial starts sales we make. and also by the Here, business from 7am till around 7:30pm and

INTERNATIO

77 Killed in Ec NAL uador Earthqu ake

MONDAY APRIL

email:foreign

18, 2016 • T

H I S D AY

desk@

thisdaylive.c Ecuador launched om rescue said operation s its biggest yesterday after guard Guayaqu il security earthqua ke left barefoot. decades killed in About Fernand o Garcia. ” 13,500 security State people, caused at least 77 personne force OPEC officials said the crust is not rigid devastation l were mobilize enough member’s oil to transfer in coastal populatio to keep “140 civilians stress d produc- over died in the left an unknown ns and Ecuador, order around tion was not affected thousands ofefficiently attack carried from by said on miles,” it number (£422.3 and $600 million the quake but the trapped in that crossed out by bandits States,the region, the United its web principal refinery of million) the United from can cause othersite. Quakes Sudan,” magnitu de ruins. The 7.8 from multilate ralin credit located near Esmerald as, within a statement South other powers, Nations and quake struck big quakes off from South Sudan’s lenders a range government the epicenEcuador’s was communic the feuding sides Pacific for immediately activated tre, had been halted of miles, but of hundreds office coast on Saturday can cause said. “Ethiopian ations peace deal signed an initial the emergen precautio as night governm and was felt in August cy, the quake n. The Ecuadore a small, brief quakes only are pursuing troops agreed and an distance ent said. to followed two Andean nationaround the of thousandat a inside South the bandits positions share out ministerial Ramon Solorzan large and of 16 milSudan. 60 s of the in January. lion people, o, 46, struckdeadly quakes that miles, it said. in its of assailant s causing panic a car parts merchan Fighting broke Gambela Japan since region, have been in the capital the coastal t in out in December 2013 Both countries Thursday. troops and that Ethiopian killed so far,” it added. Quito city of Manta, collapsing had crossed months after are located buildings in and said he was leaving on the the border gunmen had no relationThe President Salva large commerc the South Kiir sacked with “Ring seismical ly active to pursue the attackers. to ial city of his family. “Most people of Fire” that attack The troopsSudanese government his deputy Riek Machar Guayaqu il. are out in circles the took place on Friday vice president, or rebel forces the Pacific, as the streets in Jakaya area Nearly 600 but according that straddles fought the governm who political dispute exacerbating a people were backpacks on, headingwith the U.S. Geologic to injured. ent in ethnic that reopened Juba in a for large al Survey the border, in a region Northwe stern higher ground,” civil war rifts between quakes separated hosts alongside that coastal areas he said, Kiir’s a neighbouring ended with a peace that Dinka ethnic such long distances nearest the speaking in a trembling by province quake were signed last group and deal voice more than 284,000 would South year, the body Machar’s Nuer. including worst affected, phone on a WhatsAp p probably not be related. Sudanese refugees said. said last week Machar “Even the call. “The who tourist spotPedernal es, a are cracked. earth’s rocky fled conflict in the streets he would South Sudanese return with world’s beaches to The power youngest nation. and palm trees, the capital were not immediate officials on is Juba and nearby out and phones are April 18 Cojimies. Informat ly available down.” to form a for comment. Under pressure transitio nal governm ion was cutPresiden t Rafael Correa scant from short a trip with Kiir there due ent poor commun to . to ications and return. “Everything Italy to transpor t chaos. can be rebuilt, but lives cannot “There be people whatrecovered , and that’s trapped in are and we are various places said. hurts the most,” he operations,” starting rescue capitalParts of the highland Jorge Glas Vice President power Quito were without said morning before on Sunday several or phone service for hours but boarding a plane to the the city governm of 77 dead area. The toll services ent said those and 588 injured had been restored was bound and there A state of to rise, he said. of casualtiewere no reports emergen cy s in the city. declared in was The governm six province ent called “There are s. it the are totally villages that countryworst quake in the Pedernal es’ devastat ed,” disaster, since 1979. In that 600 people Alcivar, saidmajor Gabriel killed were and 20,000 in a radio interview, injured, according to the United “dozens andadding that States Geologic dozens” died in the had al Survey. rustic zone. Among internati onal “What happene d here in Venezuela and Mexico aid, Pedernales were sending personnel is Authorities catastrophic.” plies, and supsaid there were the Correa governme 135 aftershoc ks in the said. A tsunami warning nt Pedernales lifted was area. on social mediaOne photo coastalon Saturday night but residents were purporting to be the urged entrance to to seek higher ground Pedernal es case tides in rise. up road withshowed a torn “At first it was light, in the middlea crushed car it lasted and people a long time but standing behind. got stronger, and ” said Maria In Guayaqu Jaramillo , 36, a resident largest city, il, Ecuador’s of Guayaqu Separate Servicem il, describin the streets rubble lay in windows g cently en of the self-defen breaking fell on top and a bridge pieces and se army of falling off Nagorno-Karabakh was terrifyingof a car. “It was roofs. “I on the seventh rest at their scared and , we were all and position in the light went floor the village in the streetswe’re still out the of Talish…re off in whole because sector, and we’re worried about aftershocks,” evacuated. People were we anxious in the street ...very We

SEPARATIST FIGHTER

UN Receives Abuse Alleg New Sex ations again Peacekeepers st in Congo The United

SPORTS Former WAFU Boss Calls for Truce in

ANC Support South Africa ers Killed as Bus Ove rturns in

At least 11 killed and 59 people were in the Free State, when a bus more injured passenge trapping on Saturday transporting rs undernea African National ahead of local th the vehicle, ER24 Elizabeth overturne paramedics elections in August. (ANC) supporte Congress said Around party in a statemen 40,000 ANC rs from an d,” the election rally t. supporter said in a statemen The beth overturnein Port Eliza- after cause of the accident, tended the event in s at- “Our thoughts t. Nelson the are with South African d yesterday, were which 21 passengers Mandela Stadium. injured in a critical emergenc “The ANC at this time.”and bereaved services said. South Africa The bus rolledy tion, is not yet condi- sadness of has learnt with has off the N1 highway a fatal problems known, in ER24 said. with road the Free Stateaccident safety. Some President between Ventersburg where 4,500 people and Winsburg Zuma launched the Jacob a bus carrying ANC’s manifesto in comrades were killed in accidents Port Elizabeth returning from the ANC last year, according manifesto to rally in Port the country’s Road Traffic Management Corporation.

keeping missionStates peace- last Septembe in Democrati r, one involves Republic of c the South Saturday it Congo said on and the African contingent new allegationhad received forces seventh case involves from Malawi. abuse against s of sexual “All of these its soldiers. The United Nations cases are presumed earlier this monthannounced pregnancy cases of either that it was or of paternity investigating and eight ... accusations Tanzanian peacekeep that minors,” of the victims are Sidikou said, ers based ing in northeaste addthat sexually abusedrn Congo had underway.investigations were and exploited U.N. five women missions have peacekeeping and six girls, been beset by leav- accusation ing them all pregnant. Authorit ies s of sexual The head in Mali have of the U.N. The United Nations abuse. arrested (25 miles) mission in from the comCongo, Maman 99 such allegation reported believed a third person mercial Sidikou, told to s against capital, Abidjan, Saturday last month’sbe linked to on March reporters in staff members across the capital the third ’s arrest was victims U.N. system the deadly al 13. reported last year. The Qaeda attack on included citizens those 11 casesKinshasa that One source in of Germany T H I U.N. a beach peacekeep S resort in had said Alou Mali linked to the D AY involved • MONDAY ing members of Grand neighbo uring Doumbia was arrested , Lebanon Bassam APRIL Ivory Tanzanian units in Congo, which was mission Saturday 2016 Coast, military that left Congo on claimed attacks, that were Macedon ia and Nigeria., initially 18,officials in the Malian by Al Qaeda Ivory Coast last July but established during a civil that seven in the ties Islamic Maghreb that lasted war Gunmen said yesterda y. capital of Bamako more from 1998-200 have also authorisuspecte and the Islamist had since surfaced. allegations is the (AQIM), shot swimme 3, rs gunmen d of driving the group’s North 15 people and arrested Tanzanian soldiers Five involve aroundworld’s largest, with and sunbathe rs African branch.. say the from Mali before Ivory ringlead er, storming 20,000 uniforme who arrived to hotels who they Coast. personnel. Eleven Ivorians, d town named as of Grand in the police source A second ing Kounta DalBassam, three special includ- lah, was killing 19 confirme d the arrest forces’ spokesm still at large. people 40 km to provide but was unable soldiers, died in the Group an for the A further detail. Four French citizensattack. securitySports Mali Editor services was Duro were killed and immedia tely Email other foreign duro.ik available not commen t. hazuag for be@th

NFF Crisis Former President ofWest Africa Football Union (WAFU), Jonathan Ogufere, has called on the Minister of Sports, Solomon Dalung to save Nigeria football from Chris Giwa and his group who are determined to earn the country suspension from FIFA. Page 61

Mali Arrests Third Person with Cote d’Iv in oire’s Beach Connection Attack

MONDAYSPO

Former WAF RTS U Boss Calls Tr uce for Asks sports in NFF Cr minister to call Giwa toisis order

Duro Ikhazuag be has gone to the Former President in sports (Court highest court He urged those of West of Arbitration Africa Football hell-bent Union (WAFU), for Sports) and Jonathan Ogufere, has been taking over the administra in Whosoever that settled, some people are of the NFF to wait for tion get to the NFF is aspiring to shouldn’t on the Minister has called still Amaju till using should wait be a Solomon Dalungof Sports, Nigerian it to destabilise Pinnick’s four-year tenure after or matter of do or die affair abide life to current the four years of the football,” observed end. to save Nigeria football is unnecessarily and death. It sayingby the rules. Nobody is board. from Chris the respected former WAFU FIFA laws “To be president disturbing the “It is about time Giwa and boss. to that of Nigeria.are superior his board members and this issue is sporting atmosphere in Nigeria. are determin group who Going to regular We are of NFF is settled once and for all. Ogufere recalled ed to earn If you lose court runs talking about superiority not country suspension that Nigeria not a matter of life and the now but respecting death. and an election you keep calm foul of FIFA rules. Nobody from FIFA. barely escaped FIFA ban ourselves wait for another Speaking at forced when this crisis started time. It once us to join FIFA and member of the internatioas a two years ago. Ogufere who the weekend, “Nigeria barely we are there football communit nal is also the we must chairman of escaped y,” stressed FIFA a Ogufere. Association, Sports Veterans issue ban the last time this came up. We body for past an umbrella not portray should sportsmen and ourselves like administrators, nation a that is not noted with dismay that by internation ready to abide al rules. For club proprietor the Jos-based goodness has continued of our youths the unabated in our and football his determina this issue to be the president tion nipped in the bud should be of the Nigeria Football “I am not just immediately. speaking as an (NFF) irrespectiv Federation individual . This is the way, his ambition coulde of whether the Veterans we earn Nigeria in a long-term feel. We’ve beenNigerian sports suspension watching FIFA. by cannot continue to keep and “The minister quiet. We are (Dalung) cannot of sports going not happy with what is on in Nigerian afford to keep quiet. football. Those restore peace. He needs to scene heating up the football dismayed that We are totally realise in the country should the damage after an issue their action is creating for Nigeria.”

BOA Lawyers’ Falana in GrandLeague: Agbakoba, Finale

Falana & Falana, team of the the surprise a fight. Lawyers Football 2016 BOA THISDAYOAL insiders told Tournament at is set to battle that they aimingthe weekend Legal in the Olisa Agbakoba “As you know for an encore. our pedigree, Sunday April final slated for we don’t 24. just boast but After missing out of the what it takes to retainhave Nadal...savouring competition the joy of a Monte the meant for title. We are not practicing lawyers Carlo victory scared rather it should Falana & Falana in Lagos, & Falana be Falana who should returned afraid determined be second fiddle not to play final of meeting us in the come 16 law firms to any of the the defendingSunday. We are champions and this edition. participating at should Bassey Inyang be accorded Now, the in Calabar all the respect She lamented based team Ikeja GRA- one of we deserve,” observed remains, now that her father’s public on defendingis set to take OAL the top supporters of The family of the late John spirited individuals at the UCTH who simply Okon, former Ene champions, Agbakoba. come to the Super Eagles morgue had been abandoned himself as John identified midfielder, family’s aid in to was aware of the challenges by the during the is To reach the its semi final . He said Ene final, Falana assistance to seeking financial club andstate government, the time of need. Falana penultima & Oyetibo/B clash with Tayo settle hospital his employers, Ruth said the deserved supportOkon’s family sundry bills at and ayo family desired Lafarge. Ruth said that defeated Aluko te weekend the University That semi finalOsipitan. the hospital had befitting burial for Ene Okon a of grief over the in its period & Oyebode of notified clash sapped Calabar Teaching Hospital 2-0 in the demise of its who bread in his lifetime the family semi final with OAL players as it so winner. Tayo Fashanu deadlocked can bury the deceased who they one-month depositthat the initial United FC played for Acada and Tony Ajadi’s at regulation time. He said he had of Unical, Rovers for died services ninth and 18th-minu Agbakoba March this year. intimated the had expired. mortuary Calabar, BCC of state governmen escaped into At the Lions of the te goals a She said that respectively 4-3 victory final courtesy is still moment, Okon’s remains the hospital had Akwa United of Uyo Gboko, owners of Ene t and the club separating revealed lying in a penalty sides. and the Okon’s death.. the shootout. Duke also assured morgue whereat the hospital’s fees for demanded for additional Flying Eagles. Falana had services it was deposited that Chairman of The the Cross River government would not the state is struggling even as the family Sports packing formersimilarly sent Aluko Bankole Olumide when he died. abandon to secure a Commission, the family in Football champions, His the burial of Mr. Orok Lagos State Ministry (BOA), also Tournament Roverslast duty post was UniCem a grave and related casket, Duke, the employer former ther funeral deceased, of Justice Lawyers’ FC of Calabar challenges in known as (LSMJ) by the of the earlier Nigerian star which was Calabar. where he said the commissio was chief coach. League, is slated for April She said that with Fashanu same margin in memory held n shifted to 22 but also accounting the club’s His daughter, April 29 of the late for both goals. Ruth Okon Ene, management had lawyer, Bankole pointedly informed Olumide who spoke on the developme However, Aluko, nt policy didthe family that their be seen if it remains to in the a founding partner said the family is in a fix not include as they are law firm of burial surrender its Agbakoba will & Oyebode Aluko willafraid that her father’s remains expenditure for the deceased. crown without spend Ruth appealed on 14 years , who passed mortuary more days in the to the State ago. Governor, than he is interred. expected before the NigeriaProfessor Ben Ayade, Rafael Football Federation soccer buffs, , Monfils Nadal beat Gael stakeholders and a ninth 7-5 5-7 6-0 to claim second set before serving Top Kenya long out to level Monte it runner Esther distance and road running the final. title yesterday Carlo Masters Chemtai Both athlete . men Ndiema is injured has replaced Shitane Nadal emerged tiring towardslooked to be Habtegebrel she has been confirmed forafter Polline Wanjiku from in the list of from a the the end of scattergun race and the Kenya second set next month’s elite athletes for Walter our Elite Athletes Manager, Ethiopia’s Buzunesh Gudeta and and one of only but Nadal the advantagefirst set with returned two in Africa reinvigorated International fourth Okpekpe replacedAbmayr, has promptly race.These are all gold level for the this year,” he further break of the after his third secure running 10km Road to Esan also revealed said. Race Ndiema,”her with the Kenyan athletes,”said a delighted Esan. in Okpekpe, secured the Monfils serve a final the title courtesy of Edo that “It’s obvious we observed Esan stanza 7-5. set bagel. Spokesman State. are organising is taking keen interest in IAAF further who “Monte Carlo the race a The Spaniard, who won which is the second bronze label for the IAAF a gold revealed that Ndiema is a bronze label event with has been one tournament race, Dare Esan, level running of four labelled requirements for the 10km races record 46 of the most special places said at the weekend athlete. a gold label matches in the “This in my career,” Bahrainian, Habtegebr that the of gold has brought the number This is a demonstration race. after the IAAF Goldworld this year 2005 and in a row between the crowd on Nadal told of our Best level running determinatio Label World’s 2013, el pulled the out because of receiving the full arsenal at unleashed his trophy. race from four athletes for label rating n to improve to a silver Rico 10K race in San Juan, Puerto injury. to five next in February and Habtegebrel, of the second the beginning “It was a pleasure a silver level following the confirmation women dream of Pamodzi year. This is the Gold Label the IAAF of Pascalia organisers Sports Marketing, managed to set but Monfils back Kipkoech, Maryane Ottawa 10K race to play here stay Ottawa, of with again in Wanjiru the only him Ca a

Family Seek s Help

Okpekpe Race : Ndiema Repl aces

for Burial of

John Ene Oko n

Nadal Clinches Monte Carlo Crown

Injured Hab tegebrel

Ikhazuagbe isdaylive.com

MONDAY APRIL 18, 2016 • T H I S D AY

NEWS

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

OPEC, Non-OPEC Deal Faces Fresh Hurdle over Saudi, Iran Tensions FG mulls pipeline security force to protect oil and gas facilities

Tobi Soniyi in Abuja and Ejiofor Alike in Lagos wit agency reports The global deal between the Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC producers on freezing crude oil output faces fresh hurdles with Saudi Arabia’s demand yesterday that Iran must join the agreement to end the glut in the oil market and stabilise prices. The meeting between OPEC and non-OPEC producers ran into last-minute hitch in Doha, Quatar, yesterday due to what looked like a new spike in tension between Saudi Arabia and Iran. Some 18 OPEC and non-OPEC countries, including Russia, met yesterday morning in the Qatari, to freeze output at January levels until October 2016. But Reuters reported that the meeting was postponed after OPEC’s de facto leader, Saudi Arabia, told participants it wanted all OPEC members to take part in the freeze, according to OPEC sources. OPEC is made up of Algeria, Angola, Ecuador, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela. Iran did not send a full delegation to the meeting, insisting it would not accept proposals to cap its production until it recovers a similar market share to what it held before United States-led sanctions were imposed on it over its nuclear programme. The country, instead, sent its OPEC Governor, Hossein Kazempour Ardebilli, according to a report by Iran’s news agency, Shana. Riyadh had earlier insisted on excluding Iran from the talks because Tehran had refused to stabilise production, seeking to regain market share after the lifting of Western sanctions against it in January. However, a new draft of

the agreement seen by Reuters thereafter contained none of the binding points of the previous outline. The draft indicates that producers in and outside OPEC should agree to freeze oil production at “an agreeable level” as long as all OPEC countries and major exporting nations participated. According to a draft copy of the agreement, the cap would last until October 1 this year, and producers would then meet again in Russia to review their progress in engineering what the document called “a progressive recovery of the oil market." No final agreement was reached on the draft. But speaking to journalists at the meeting yesterday, Kuwait’s acting Oil Minister, Anas Khalid al-Saleh, said he was confident a cap would be agreed. Yesterday’s talks in Qatar would see OPEC - and unusually other producers - try to agree that the average daily crude oil production in the coming months would not exceed levels recorded in January. A senior oil industry source said: “The problem now is to come up with something that excludes Iran, make the Saudis happy and doesn’t upset Russia.” Failure to reach a global deal - the first in 15 years between OPEC and non-OPEC nations would signal the resumption of a battle for market share between key producers and likely halt a recent recovery in prices. Saudi Arabia has taken a tough stance on Iran, the only major OPEC producer to have refused to participate in the freeze. Deputy Crown Prince, Mohammed bin Salman, told Bloomberg that the kingdom could quickly raise production and would restrain its output only if Iran agreed to a freeze. Iran’s Oil Minister, Bijan Zanganeh, said on Saturday that OPEC and non-OPEC should simply accept the reality of Iran’s

Babangida Reportedly Seriously Ill Davidson Iriekpen Former military president, General Ibrahim Badamasi Babangida (rtd), is reportedly seriously ill, a source close to his hilltop mansion in Minna, the Niger State capital, informed THISDAY yesterday. According to the source, the former military president has been ill for a while, resulting in his inability to attend most public functions. THISDAY could not ascertain the real cause of his illness, but the source apart from saying that it was age-related, added that the former military president might be suffering from a relapse of the radiculopathy disease which has troubled the former Nigerian leader since he was head of state. According to the source, Babangida most times is unable

to walk unaided without a walking stick or the assistance of his security personnel. The illness of the former military president became public last week when he attended the valedictory dinner for the former Niger State Chief Judge, Justice Fati Lami Abubakar and was aided out of the venue before the end of the event. It was said that Babangida now travels to Abuja frequently where he receives medical attention and has cut down on receiving visitors at his home. The source also said he has emaciated a lot and also looks pale. Babangida was Nigeria’s military president for eight years, but was forced to stepped down after he annulled the 1992 presidential election believed to have been won by the late Chief MKO Abiola.

return to the oil market: “If Iran freezes its oil production ... it cannot benefit from the lifting of sanctions.” Meanwhile, VicePresident Yemi

Osinbajo has said the federal government is considering establishing a permanent pipeline security force to stop vandals from damaging pipelines and

other oil and gas installations across the country. In a statement yesterday by his media aide, Mr. Laolu Akande, the vice-president spoke at the

weekend when he visited the Forcados export terminal in Delta State on the instruction

Cont’d on page 57

DEVELOPMENT EXPERTS

L-R: President, Asian Development Bank (ADB), Takehiko Nakao; President, African Development Bank (AfDB), Akinwunmi Adesina; and Minister of Finance and Public Credit, Colombia, Mauricio Cardenas, during the opening of plenary session of the Global lnfrastructure Forum 2016 at the Spring MeetingsoflMF/WorldBankBoardofGovernorsinWashington...weekend AbiodunAjala

Adesina: Buhari Didn’t Take Any Loan from China Fayose’s letter reasonable act, says ex-lawmaker Olakiitan VictorinAdoEkiti The presidency yesterday said President Muhammadu Buhari did not discuss the issue of loan during his week-long trip to China. There had been reports that Nigeria would borrow at least $2 billion from China to finance the 2016 budget. But speaking when he appeared as a guest on O and M Sunday Show on the Africa Independent Television (AIT), the Special Adviser to the President on Media and Publicity, Femi Adesina, said nothing of such happened, adding that g the trip ended up attracting investment worth $6 billion to the country. “The issue of loan didn’t arise during the president’s trip to China, not even an emergency loan was discussed. “The president went there and signed agreements that were in the interest of Nigeria. We should know that this president knows what is good for the country,” he said. On the letter which Governor Ayodele Fayose of Ekiti State wrote to the Chinese Government to stop the purported loan, Adesina said: “Every nation has a room for comic relief. If someone chooses to be so idle and be entertaining others, so be it. “I am sure so many people laughed when they saw the letter.” When asked if the president also reacted to Fayose’s letter with laughter, Adesina said: “The president is a serious-minded person who chooses not to be

distracted.” Responding to a question on whether Buhari will spend up to two weeks in the country “before taking off again,” Adesina said if the need arises to travel, the president will do so. “The president is embarking on these trips in the interest of the country, so if what will prosper Nigeria abroad requires him to travel, he will. “Let me share this with you. During the last Sallah celebration in September, the president travelled to Katsina in the morning, he took part in the activities and by 2p.m, he was on his way to the United States to represent Nigeria at the United Nations General Assembly. “Now, if not for the love for his country, will the president not have stayed back to celebrate with his family?” He asked. Sequel to a letter written to Chinese Government by Governor Fayose seeking to stop the $2 billion loan being sought by President Buhari to finance some projects in the 2016 budget, a member of the seventh House of Representatives, Hon Bamidele Faparusi , has described the action as a serious act of treason against the nation. Faparusi said it marvels every Nigerian that Fayose could take his opposition against Buhari to that ridiculous extent all in the name of politics, urging all well-meaning Ekiti State to advise the governor against dragging the name of Ekiti State in the mud to advance his alleged vice-presidential ambition

in 2019. The former federal lawmaker added that “how would the governor had felt, if the All Progressives Congress (APC)had written similar letter to the Central Bank of Nigeria (CBN) seeking the stoppage of N9.2 billion bailout given to Fayose’s government to pay workers’ salaries?.” Faparusi, who said this in a statement in Ado Ekiti yesterday in reaction to a letter written by Fayose and submitted at the Chinese Embassy in Abuja last Thursday, stated that Fayose’s action is gradually becoming more of personal animosity against President Buhari, than partisan politics. The APC chieftain said for Fayose to have traveled to China at a time President Buhari was on a business trip that would benefit the nation to constitute a cog in the nation’s wheel of progress, further amplified how allegedly determined and desperate the governor had become about his rumoured vice-presidential ambition. “Aside from the fact that Fayose expended over N50 million of his state money on his misadventure to China, he also committed another N10 million to send his Chief of Staff, Dipo Anisulowo, and other 10 government officials, including some lawmakers to Abuja to submit the letter at the Chinese Embassy . “What does Fayose tend to lose if the Chinese Government accedes to President Buhari’s request? President Buhari had revealed his intention to construct Calabar-Lagos

and Lagos –Kano rail lines to boost the economy of the country. Does our governor think these projects have no relevance to our existence as a nation? “Though, I won’t like to blame him, because Fayose did not see governance as a serious business , but just a means of political survival and patronage . That was why he has been promoting commercial motorcycle (Okada) business in Ekiti State rather than institutionalizing concrete youth empowerment programmes because that was how far his brain could carry him. “If Fayose has been a political tactician as he normally claimed to be, he should have been able to discern that he has been rejected even by the PDP, because the party had zoned vice-presidential position to the South-east for 2019 despite his noise all over the place. “Fayose must come to a realisation that vice-presidential position is not for all comers, but for those who have the intellectual acumen and integrity that can influence the country positively in the comity of nations and the PDP upon realising this quickly turned the table against him. “As much as I believe in individual’s rights to free association and freedom of expression, Fayose should not also be oblivious of the fact that the presidency is the symbol of our nation and any attempt to desecrate it would mean a commission of treason offence, which has a dire consequences under the law.”

MONDAY APRIL 18, 2016 • T H I S D AY

NEWS

NLC, Falana, CSOs Condemn Senate over Attempt to Amend CCB/CCT Act SERAP drags upper chamber to UN Omololu Ogunmade, Paul Obi in Abuja and Gboyega Akinsanmi in Lagos

The Nigerian Labour Congress (NLC), human rights lawyer, Mr. Femi Falana and an advocacy group, Friends in the Gap Advocacy Initiative (FGAI), yesterday condemned the Senate over its attempt to amend the Code of Conduct Bureau (CCB) and Code of Conduct Tribunal (CCT) Acts They accused the Senate of setting a wrong precedence with the amendment of the two acts, stating that the move portends a dangerous trend in the polity. The Senate had last week began the process of amending the CCB and CCT Acts by initiating two bills. The first amendment bill, sponsored by Senator Peter Nwaboshi, (Delta North) and entitled: ‘Code of Conduct Act Cap C15 LFN 2004 (Amendment) Bill 2016,’ was first laid before the Senate last Tuesday. However, the bill curiously passed the second reading last Thursday barely two days after initiation. The second bill, sponsored by Senator Isah Misau (Bauchi Central) and tagged: ‘A bill for and Act to amend the Administration of Criminal Justice Act, 2015 and other related matters,’ seeks to remove the CCT from the list of courts statutorily empowered to initiate criminal proceedings against accused persons. Debate on the second bill has been slated to commence this week in the Senate. But NLC President, Ayuba Wabba, explained that the timing of the amendment was fraught with ulterior motive, taking cognisance of the ongoing trial of the Senate President, Bukola Saraki. According to the NLC, the stiff opposition the amendment had received from ranking members of the Senate like Deputy Senate President, Ike Ekweremadu, and Senator Yahaya Abdullahi is a signpost of misgivings associated with the purported bill. Wabba stated that: “In the past one week, the Senate initiated a process for the amendment of the Act establishing the CCB and the

CCT. “It cited as reasons for the amendment, the need to give every public officer (appearing before the tribunal) a fair hearing, justice and equity (in line with the provisions of Section 36[2] [a] of the 1999 Constitution (as amended) and the need to remove from political control, the two bodies which now play a critical role in the administration of criminal justice system.” The NLC president expressed labour’s reservation, particularly, on the speedy reading of the bill on the floor of the Senate. “In furtherance of its objective, the Senate fast-tracked the process of this amendment via two readings (first and second) within 48 hours. It has also set in motion the process for removing the jurisdictional powers of CCT on criminal matters via the amendment of the Administration of the Criminal Justice Act. “In consideration of the fact that sometimes in most climes, corruption trials are triggered by reasons other than corruption, it makes a lot of sense to create legislations that guarantee fair trial and justice for the accused. Secondly, legislative amendments are part of the constitutional functions or duties of the National Assembly,” Wabba added. While condemning the special interest at display on the bill, NLC stressed that the bill is dangerous and would not be in interest of the Nigerian public. “However, we at the NLC hold the view that the noble intention of the Senate notwithstanding, the timing is suspect and fraught with danger. “It is quite intriguing that it took the trial of the Senate President for the Senate to discover these flaws in the law(s). Putting it bluntly, in spite of the spirited defences by the Deputy Senate President to the contrary, not a few believe that this legislative move is a desperate attempt to scuttle the trial of the Senate President, Saraki, at CCT,” the congress stated. NLC also queried the attempt by the Senate to extend the privileges of principal officers of

the upper chamber using the CCT amendment as a platform. Wabba stated that: “We do not think the privileges of the Senate President extend to exemptions from civil or criminal trials. At the moment, only the president and his vice, the governor and his deputy enjoy this rare privilege. Thus, what the Senate is trying to do is no more than a legislative ambush. “We need not remind the Senate that we are all equal or ought to be equal before the law, in spite of our stations in life. We similarly believe that the fight against corruption should be total and not selective. If this amendment therefore is allowed to scale through, it would have set a dangerous precedent. “Accordingly, the Senate would do well to listen to one of their own, Senator Yahaya Abdullahi of APC, representing Kebbi North. Timing is of essence here.” Meanwhile, the NLC said it was

still studying details of the $6 billion Chinese deal recently signed by President Muhammadu Buhari and his Chinese counterpart, Xi Jinping. Speaking to THISDAY, NLC Secretary General, Dr Peter OzoEzon, explained that, the deal would assist Nigeria in scaling up the country’s infrastructure. He said: “We are pleased that the deal will help Nigeria in infrastructure. It’s really a positive deal in that direction. It is something that is desirable.” Ozo-Ezon told THISDAY that considering the “volume of trade Nigeria and China have, the currency swap aspect of the deal will help Nigeria in engaging with Chinese in a more broad way.” Though, the NLC scribe hinted about a possible disaffection about the deal in the West, he however explained that western countries like United States, United Kingdom and Germany have not been

forthcoming, embracing China is therefore the best option for Nigeria. “That has always been there; the West doesn’t want us to move to China. You know, concessionary funding only emerged because of China’s emergence on the global stage. “The west shouldn’t dictate to us where we go to. The west has not been forthcoming, so if China opens up to us, we should take the advantage,” Ozo-Ezon maintained. On his part, Falana in a letter he addressed to the Speaker of House of Representatives, Yakubu Dogara and copied the Senate President, Dr. Bukola Saraki, said the National Assembly lacked legislative powers to alter any section of the CCB) and CCT Acts without amending some provisions of the 1999 Constitution. He consequently argued that the proposed amendment of the Act that scaled through the second reading within 48 hours

“is an exercise in futility.” Falana in a two-page letter he authored, argued that the proposed amendment “is illegal and unconstitutional. In other words, without amending the relevant provisions of the Constitution, the proposed amendment of the Act is an exercise in futility. “As the proposed amendment cannot alter, enlarge or curtail the relevant provisions of the Constitution the Senate ought not to continue to waste precious time and resources on the illegal exercise.” He provided different reasons the proposed amendment would not stand, citing its contravention to the 1999 Constitution and a judgment of the Supreme Court delivered in a suit between Attorney-General of Abia State v Attorney-General of the Federation (2001). He argued that to the extent

Cont’d on page 58

TETE-A-TETE

Akwa Ibom State Governor, Mr. Udom Emmanuel (left), in tête-à-tête with his Enugu State counterpart, Ifeanyi Ugwuanyi, during thePeoples Democratic Party (PDP) maiden zonal committee meeting, in Uyo...weekend

APC Alerts on Another Budget Scam Says N5bn diverted to non-existent project Onyebuchi EzigboinAbuja As controversy over the noninclusion of the Lagos-Calabar Rail line project in the 2016 Appropriation Bill rages, the All Progressives Congress (APC) South-south zone has punched yet another hole on the bill passed recently by the National Assembly. The party accused the Senate Appropriation Committee and its counterpart in the House of Representatives of doctoring the budget and removing almost N5 billion meant for the total rehabilitation of the collapsed and terrible Calabar-Odukpani–Itu –Ikot Ekpene federal highway and reallocated it to a non-existent constituency project in Kano State. In a statement issued yesterday by the National Vice Chairman

(South-south), Prince Hilliard Eta, the party said the action was a setback to the progressive change and at variance with the infrastructure development agenda of the APC-led federal government. “We are very upset that our representatives at the National Assembly would discard decorum and hinder progressive change by acting at variance with the infrastructure development agenda of the APC-led federal government. The arbitrary removal of the Lagos-Calabar rail project by the National Assembly from the 2016 budget is a display of depraved indifference to the welfare of Nigerians. “The deletion is not just arbitrary, it is a big disservice to the people of Nigeria, particularly

the South-south zone which the proposed railway line would have traversed. “Also, the total rehabilitation of the collapsed and terrible CalabarOdukpani –Itu –Ikot Ekpene federal highway which was allotted N6 billion by the federal government in the budget was doctored and almost N5 billion removed and reallocated to a nonexistent project in the constituency of the Chairman of the House of Representatives Appropriation Committee, Abdulmumin Jibrin, in Kano State. “By these two acts, the Senate and House of Representatives displayed the astonishing contempt in which they hold Nigerians. The National Assembly exists to ensure that Nigerians get the best from their government using

the instrument of purposeful legislation, but the eighth assembly, by this budget padding debacle has not only brought itself to ridicule, it has also proved itself unworthy of the trust and confidence of Nigerians.” The statement said there is the need “for a re-examination of the powers of the legislature to establish if really it has the power to doctor and alter projects or totally remove them from the budget even after the minister under whose ministry the said projects fell under had credibly defended them and justified their inclusion,” Eta said. It said the APC South-south zone was disappointed with the role of the Chairman of the Senate Appropriation Committee, Senator Danjuma

Goje, and his counterpart in the House of Representatives, Hon. Abdulmumin Jibrin, who directly supervised and even actively abetted such debauchery. “As a party in the Southsouth zone, we make public our disenchantment with the National Assembly and we are particularly disappointed by Goje and Jibrin who directly supervised and even actively abetted such debauchery. “The South-south zone of the APC demands that the budget be reverted to its original form and all the development projects conceived and included in the budget by the federal government be retained without alteration. We also advise the legislature to refrain from giving the administration of President

Muhammadu Buhari a bad image by attempting to deprive Nigerians of the dividends of democracy under any guise. “Lastly, we shall approach the courts of the land for a clear interpretation of the role of the National Assembly in the passing of the national budget as it is evident that it overstepped its bounds by unnecessarily tinkering with the budget when its constitutional duty is mainly supervisory. “It is time we Nigerians begin to show a keen interest in the affairs of the legislature as only that can put a stop to the kind of shady alterations that the budget was subjected to while it was being evaluated by the National Assembly,” the statement said.

T H I S D AY MONDAY APRIL 18, 2016

T H I S D AY • MONDAY APRIL 18, 2016

COMMENT

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

TACKLING FUEL SCARCITY AND POWER OUTAGES (1) It is time to fully deregulate the energy sector, argues Femi Pedro

fter inheriting a colossal mess from all the previous administrations combined, it is fair to say that this 10-month old administration is facing enormous challenges under many mitigating circumstances. I do not envy the burden it continues to bear because for decades, we have grappled with challenges in virtually all the critical segments of our economy. Everything from education to healthcare provision and infrastructure development has been a grapple. Perhaps, the mother of all challenges has been the persistent fuel scarcity and erratic power supply currently plaguing the nation. Nigerians have simply grown tired of having to queue for long hours to fuel their cars and endure persistent power cuts because it is counter-intuitive and counter-productive. In developed countries, the provision of these simple essential products has evolved into business ventures that governments and private entities jointly handle with minimum fuss and little controversy. This is certainly not the case in Nigeria, and the time has come for a holistic change in this regard. Broadly speaking, our petroleum problems began decades ago, when government became involved in the production, importation, pricing and selling of petroleum products through a government monopoly – the Nigerian National Petroleum Corporation (NNPC). The refineries built and run by the NNPC were neither properly managed nor efficiently maintained. In the years that followed, there was very little interest in building new refineries or in seriously encouraging the private sector to enter the industry. As a result, the current administration has inherited a number of broken-down, money- guzzling and obsolete refineries that are simply unable to service the nation’s needs. These refineries are not performing optimally because far too many people have benefited from their shortcomings. Our downstream sector is not fairing any better, because the NNPC is actively involved in importation, distribution and sales while the Petroleum Products Pricing Regulatory Agency (PPPRA) determines the open market price based on an agreed template. Until this administration’s recent intervention, the marketers who imported petroleum products received subsidy payments for the differentials in the cost of their importation and distribution, as the pump price has always been fixed by government. This is obviously a recipe for disaster, and we can reasonably conclude that the challenges we have faced for many years is because of government direct involvement in the sector. Our electricity problems began decades ago when government-owned power plants and transmission lines started becoming obsolete and mismanaged. We produced, transmitted, priced and sold power under an inefficiently run government monopoly called NEPA (and eventually PHCN), which has not been able to keep its production at pace with population and economic growth. We started with about 75 Megawatts (MW) in 1951, and today we are struggling to produce about 3,000 MW. The government hopes to produce 10,000MW by 2019, but a lot will need to be put in place to make this a reality. The common denominator in these two case-studies is the govern-

THIS ADMINISTRATION IS IN A UNIQUE POSITION TO ALTER THE FUEL AND POWER DYNAMICS, BECAUSE WE SIMPLY CANNOT CONTINUE TO EXPECT OUR GOVERNMENT TO PRODUCE, PRICE AND SELL PRODUCTS EFFICIENTLY

ment, so I believe it has become imperative for us to implement a holistic deregulation policy in these two sectors. This administration is in a unique position to alter the fuel and power dynamics, because we simply cannot continue to expect our government to produce, price and sell products efficiently. Deregulation by definition is the reduction or elimination of government influence within a particular industry by creating more competition. Deregulation is not rocket science. It is a well- utilised policy worldwide, and generally produces positive results. Prior to 2001, the Nigerian government produced and sold telecom services directly through a government-owned and inefficiently run monopoly called NITEL. For many years, NITEL customers experienced frustration until the government decided to deregulate the telecom sector by issuing licenses to profit-oriented private companies. This has led to better quality under a more competitive environment. Of course, it has not been perfect, but it is certainly a marked improvement from the NITEL days. The industry has opened up, new players have emerged, better services are being provided, more people have been employed, and by extension, more wealth has been created. The government still plays an active role as a regulator (NCC), but does not play any role as an operator. Likewise, the federal government once owned a majority stake in banks like First Bank, Union Bank, UBA, National Bank, Bank of the North, Afribank and Continental Merchant Bank as recently as 25 years ago. During this time, our banking infrastructure was expensive to maintain and generally ineffective. The deregulation of the sector in the 1980s and 1990s paved way for the relative stability we enjoy today. Ditto the aviation sector, which was also under the control of government for a long time. Although its safety standards were fairly satisfactory at the time, Nigerian Airways operated as a monopoly for many years, and this left the sector susceptible to manipulation and mismanagement. Nigerian Airways eventually became defunct, and the aviation sector has become liberalised, with the airline operators performing a bit more optimally than in the past. In all the cases mentioned above, the biggest loser was always Nigerians, because consumers will always suffer under the yoke of government-owned monopolies. There was a massive resistance by entrenched interests to the idea of dismantling these monopolies, because they benefited from the chaos at the expense of the people. There is no doubt that these sectors are now performing much better than they ever did in the past because the government’s role has been drastically reduced, and I see no reason why this administration should not consider rolling out a more holistic deregulation strategy for the petroleum and power sectors. The problem with petrol and power supply is that these products have always been treated by government as social goods. In economics, social goods are products that are considered so critical and sociallysensitive that its production and pricing mechanism cannot be left to private enterprises and market forces to determine. Otunba Pedro, a banker and an economist, was a former Deputy Governor of Lagos State

NIGERIA NEVER BROUGHT BACK THE MISSING GIRLS

lmost two years ago, when the Chibok girls were snatched from their beds in the darkness and tossed into oblivion — I penned an essay that basically thwarted any hopes we had for their safe return. But prior to that — about a week before the unthinkable transpired — I had an insightful conversation with a good friend of mine about the country of my heritage, Nigeria. There is no specific way to establish the bipolar relationship I have for a nation that treats its citizens with such disdain. Growing up in Nigeria taught me to truly appreciate the fact that I was also American. I knew there would be a way out when I was all grown up and ready to claim my birthright. Funny thing is that now that I’m all grown up and claimed what’s rightfully mine — there is still the feeling of not belonging anywhere. But that’s a whole other session with the guru of my choice. To be honest, I had a healthy childhood. My parents did an excellent job facilitating my ability to adapt to my new and imposing surroundings. I adjusted quite well after moving from Kansas City, Missouri at the age impressionable age of eight — to the thriving metropolis of Lagos, Nigeria. But the 1980s were a gangster period in our history. Military coups, bribery and corruption, rampant assassinations and the overall assumption that the government was overrun with power-hungry mercenaries created a climate of hopelessness and nonchalance. Nigerians have been trained to accept the facts of life as it pertains to our daily disposition. We are proud of who we are and where we come from and the truth is — there is plenty to

Ezinne Ukoha expresses doubt if the Nigerian leadership can live up to expectations celebrate. It is no secret that Nigerians are brilliant minds and that’s the irony of it all. There is an abundance of wealth sweltering in our culture, resources and breath-taking landscape. But somehow, we’ve managed to remarkably punish ourselves for being so blessed. Instead of respecting and honouring the blessings that are so starkly highlighted for our benefit — we’ve opted to deprive ourselves of the luxury of comfort. I was raised with the understanding that consistent running water and electricity isn’t as basic as it sounds. Like most third world countries — unless you had the good fortune of dwelling in a household that was supported by educated and sophisticated civil servants — you were undoubtedly going to bear the brunt of being a typical Nigerian. The only other alternative would be to submit to the chore of being a “house girl” or “house boy” which meant living with your privileged relatives and taking care of their home and everyone in it. Most of the time those arrangements worked out well since the pay back usually involved being trained in the apprenticeship of your choice. But, even in the very best of circumstances — living in Nigeria demanded and still demands a level of tolerance and adherence to supernatural reinforcements — in order to maintain a boost of sanity. It’s been a long while since I’ve spent an extended period of time in the place that hosted my formative years — but disappointingly clear that nothing much has changed. Except of course the aesthetics in the form of bigger, better and plenty. More night lounges, bigger and better hotels to host rich foreigners. Better, bigger and plenty of restaurants and

supermarkets carrying goods that could rival any store in London or New York. Those things matter and are essential as marks of progress which every nation has to aspire to and eventually achieve. It is also hard to accommodate the glitzy affair of a gorgeous night on the town when not too far away — almost 300 innocent lives became instruments of mishandling under the tutelage of street thugs gone bad. Boko Haram. Brings me back to the conversation I had with my friend a week before the kidnappings. I was frustrated and annoyed after reading another article describing the brutal reign of the relentless militants who began their deadly agenda back in 2009. I cursed out our then president Goodluck Jonathan for his lack of leadership and cowardice in the face of such blatant terror. My friend seemed confused that I was so dismissive of our head of state, and wondered if maybe he was doing all he could and perhaps Nigerians like me were being impatient by harbouring unrealistic expectations. Then the girls disappeared. It became readily clear after weeks passed with still no sign of the school girls or concrete leads — that Nigeria’s supposed leader didn’t have a firm grasp on the dire events. She was stunned. And I’m sadly validated. Our government has never been very good at governing. It’s always been about self-indulgence and executing mighty power and powerless nationals. Never about being committed to the sacred oath of performing the duties required to ensure the safety and well-being of a people that for the most part don’t need very much to be satisfied.

Some years ago, CNN declared Nigerians as one of the happiest people on earth. That’s not hard to imagine even when the circumstances of everyday life can be devastatingly exhausting. Nigerians have a way of making the best of a nasty situation. It’s second nature to laugh off the abominable and focus on the greatness of life. Good food, great company, unrestricted spaces to play, a pillow to lay our heads and people to exchange tales with. That’s it in a nutshell. But, that isn’t a fair deal. We should have the quality of life that our counterparts in civilised quarters enjoy without contemplation. And when that’s not provided we should be willing to fight for it. We should never be okay with the fact that just because we can afford to buy our way out of slumming it — we don’t have to be outraged that electricity and running water still haven’t become the standard in many households. And we can’t dress our way out of the reality that our government continues to fail us. And presently, young Nigerian girls are being groomed to fight on our behalf. They are being torn to pieces. Boko Haram is winning the war on terror and the new president, Muhammadu Buhari who swore to defeat them has failed. He will fail until he is ousted. And his successor will also fail. Failure is the endearing theme in Nigeria and only a revolution can save us. Until then — Nigerians remain in denial, frozen in time or stuck in neutral. And those poor girls remain lost. They are never coming back. Neither are we. www.twitter.com/nilegirl

T H I S D AY MONDAY APRIL 18, 2016

EDITORIAL MR. PRESIDENT, PLEASE TAKE RESPONSIBILITY Almost one year after assuming office, Muhammadu Buhari should take charge of his administration instead of shifting blame

hese are not the best of times for most Nigerians. Workers are owed salaries for several months, even as petrol and electricity supply have become essential commodities at a time unbearable heat. The cost of living is skyrocketing as prices of commodities shoot through the roof. And to compound the situation, the Nigeria Labour Congress (NLC) has warned that unless the federal government moves fast with concrete measures, it would embark on a strike to protest the worsening condition of Nigerians. Labour’s threat ought to be a wake-up call for President Muhammadu Buhari. In the last 10 months, the handling of the economy by this administration has been suspect and the evidence of lack of success is apparent. With the value of the national currency at N320 to the US Dollar it is no wonder that inflation has galloped to 12.8 per cent, according to the latest consumer price index (CPI) figures released by the National Bureau of Statistics (NBS). THE BUHARI ADMINISTRATION NEEDS Also, our growth rate is now at an all-time TO RISE ABOVE THE VICISSITUDES OF WHAT IT low of 2.3% even as INHERITED AND BRACE UP capacity utilisation FOR THE CHALLENGES OF fell to 50.69% while REVIVING THE ECONOMY unemployment rate climbed up to 9.9%. Meanwhile, there seems to be more investment outflow than inflow in spite of the president’s several trips abroad. The impact of the poor performance of the economy has been real. Besides that many government workers are owed several months’ salaries in many states of the federation, the massive shortage of foreign exchange has circumscribed capacity utilisation in the private sector, leading to job losses. At the federal level, Nigerians were told last week by the Secretary to the Government of the Federation that it has resorted to borrowing to pay workers’

Letters to the Editor

salary every month. As for the generality of the people, their challenges have been compounded by sustained power cuts and perennial shortage of petrol. It is therefore little surprise that public discontent is high even though the peoples reaction has been temperate, a situation that is now threatening to boil over with the threat from labour. Unfortunately, President Buhari and his men have been halfhearted in their response as they tell the people daily to hold the past administration responsible for their plight.

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

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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.

WHAT DOES AKINSOLA ALONGE WANT?

t is now fashionable for fifth columnists and self-acclaimed experts to engage in revisionism and sheer distortion of facts to achieve their evil design of ingratiating themselves to the powers that be. How can one describe the mischievous write-up by one Akinsola Alonge titled: “How to Replicate El-Rufai’s Zeal in FCT Administration” which was recently published in one of the national dailies? In the said write-up, Mr. Alonge disparaged the incumbent FCT Minister and his principal officers, alleging of a reckless distortion of the FCT Master Plan, and urging him to dismantle the shameful legacies of the immediate past FCT administration. While we recognise Alonge’s right to freedom of speech, we abhor indecent choice of words. It is the likes of jaundiced individuals like Alonge that would not acknowledge the laudable achievements of the immediate past FCT administration despite the obvious challenges of paucity of funds. Abuja is the fastest growing federal capital in the world with the attendant pressure on infrastructure like roads, pipe-borne water, accommodation, and the rest. The past administration brought transparency in land administration by instituting the Senator Dansadau committee in land allocation and administration in the FCT which hitherto was fraught with abuse and corruption. In order to curry favour, Mr. Alonge dropped the name of a certain (selfacclaimed, anti-corruption) senator now entrusted

his attitude of blaming the past for the sufferings of today ought to be weather-beaten by now, given the fact that this administration ha spent almost one year in the saddle. For if former President Goodluck Jonathan had performed creditably, the 2015 presidential election would have had a different outcome and President Buhari would not be in office today. Although the Buhari administration inherited an economy that ran into a storm because of the falling price of oil, which is the main revenue earner of the nation, the substantive challenge it is faced with is how to pull the nation out of the woods. That being the case, the Buhari administration needs to rise above the vicissitudes of what it inherited and brace up for the challenges of reviving the economy. For us, moaning about the past cannot be a solution to the current problems. We believe the Jonathan administration lost the 2015 general election because the electorate felt it did not do well. Having been so punished by the electorate, this administration cannot persist in stating the obvious as a defence for its own non-performance. President Buhari and his team should therefore sit up and lay out the concrete measures they intend to take to revive the economy and end the sufferings of Nigerians who have been short-changed for far too long. It is time the president and his team took responsibility for the state of affairs in Nigeria.

with oversight functions. One can see the voice of Esau and the hand of Jacob as the so-called legislator has been allegedly arm twisting the top echelon of the FCT administration. It is always smart for our compatriots to compare Nigeria with advanced countries. How can Alonge compare Abuja with Johannesburg that has existed for over 200 years? Senator Bala Mohammed, the former FCT Minister faced the onerous challenges of addressing the twin issues of population explosion and the increasing inadequacy of funds to tackle Abuja’s infrastructure deficits. This challenge led to the adoption of the land swap model of infrastructural development financing. The policy involved the granting of land to competent real estate developers who in turn provided infrastructure such as standard road, electricity facilities, potable water, drainage and sewer lines without any financial implication to the government. For Alonge to allege that the FCT administration is engaged in questionable land allocation is ludicrous. It is without proof. The Abuja Geographic Information System has brought sanity and transparency to land administration in the FCT. Mallam Nasir el-Rufai, as FCT Minister seeing the lack of capacity by the FCT administration to maintain green areas started allocating the green areas to individuals with the belief that the allottees would be able to maintain them. Jamez Zahion, zahion@gmail.com

BENEFITS OF DISTRIBUTED ANTENNA SYSTEM

Distributed Antenna System (DAS) is a network of antennas spaced apart from each other but connected to a common source. A DAS contains all the elements of a cell site and can convey both wireless data and voice signals. A typical DAS system is composed of a group of low power antenna spatially separated and providing seamless coverage over the same area as a single high power antenna. A Distributed Antenna System may be deployed indoors or outdoors. It can also be used for multi – operator solutions where the signals of different operators are passed over the same DAS infrastructure. A DAS system is usually effective in areas where the typical single high power antenna system is ineffective due to environmental or structural challenges. For example a typical cell tower height is usually metres below the standard urban sky scraper buildings, this leads to poor signals at the top of the buildings where most of the executives of the companies have their offices. The construction of building causes signal attenuation due to the pillars and heavy metal used in construction. Some of the clear benefits of deploying DAS include: a seamless coverage is provided all over the building and there is less attenuation as the

signals is produced inside the building; ability to provide high grade of service and dedicated capacity in crowded or poor- coverage areas such as malls, airports, stadia, bridges and high rise buildings Operators are also able to provide a higher grade of service for the high net-worth individuals in high rise buildings who experience poor signal due to distance and height of cell sites. These group will significantly add to the operators’ bottom line. Radiation is reduced for an indoor Distributed Antenna System due to the mobile devices using a lower power level to transmit signals. This also improves the battery life of the mobile devices as they use a lower power level. There is higher grade of service due to the improved signal level coverage resulting in higher throughput for data services. Providing a seamless indoor experience is now expedient as most individuals spend their working days indoors. This is a huge demographic of mobile users that is being ignored with poor signal levels within the buildings. There is also a greater emphasis on data services as most people now depend on mobile wireless services for the connected devices like smartphones, tablets, POS terminals and connected devices in the indoor environment.

Precious Nwachukwu, Lagos

T H I S D AY ˾ MONDAY, APRIL 18, 2016

POLITICS

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

T H E M O N D AY D I S C O U R S E

The Politics That Shaped the Chibok Story The unfortunate kidnap of some secondary school girls two years ago in Chibok, Borno State, may have been mismanaged by sheer local politics, write Shola Oyeyipo, Segun James and Jameelah Sanda

Buhari and Vice≠ President Yemi Osinbajo with parents and Bring Back our Girls Campaigners

he moment the abduction of the 234 secondary school girls took place in Chibok, Borno State, it ran straight into the web of local politics and through the sheer mismanagement of that critical security matter, the fate of the innocent girls were sealed – sadly, in bad taste. Unfortunately, for former president Goodluck Jonathan, the mood of the nation at the time did not give room for fair hearing. He had already been crucified before the girls were even delivered to the den of their abductors. What many would describe as the propaganda machine of the now ruling party, the All Progressives Congress (APC) had dominated public discourse, with agenda set and minds strategically swayed in their choice direction. Therefore, the Jonathan account amounted to nothing but sheer baloney in their estimation. Yet, many could bet that something was curiously amiss in the story as being told about abduction of the girls. A few days ago, Governor Kashim Shettima, shed some more light on some of the areas that have hitherto coloured the propaganda that typifies the Chibok debate, when he said “I was too busy to call Jonathan for three weeks after the Chibok abduction.” Immediately, the abduction became public knowledge and the Jonathan federal government was unable to do anything, a section of the public as allegedly instigated by the APC media machine pounced on the president for what many described as being both insensate and insensitive to the development. Indeed, the governor went to town, cashing in on the slant of debate, including visiting Lagos to meet with different categories of the media to exonerate and tell his own story. But something was fundamentally missing which the APC and their allies in the civil society failed to address: it was the fact that the governor mismanaged the information process of the abduction, to the extent that reports would later come that the vehicles conveying the girls developed a problem on the way and that they were there for over an hour fixing it with no one doing anything.

Now, this is how to start analysing this particular debate. When the examinations were approaching, reports had it that a section of the nation’s security had counseled against holding it areas clearly identified as unsafe. To that extent, the neighbouring states to Borno were said to have hearkened to the advice and acted accordingly except for Shettima, who promised to protect the Chibok schools. Unfortunately, this had paved the way for insinuations that the only reason he did that was because he had banked on the fact that he would appeal to the terrorists and possibly pay them to stay away whilst they held the exams. In fact, he was believed to have done so because he allegedly planned to score some political mileage from the initiative as it would give an indication that in spite of the media reports of terrorists’ attacks, the situation was not as bad if students could hold a crucial exam.

Shettima...are his hands clean?

But the plan, those who believe in this theory claimed, failed because the terrorists might have asked for more money which he was unable to provide and in the process, used the kids as baits for more money before the abduction completely went off track. Coming from this background of speculations and theories, expectations were that the governor would have respected the inter-governmental relations and immediately inform the president. But he was busy, according to him, for three weeks running after correcting what he was clearly and practically incapable of handling. And at the end of the day, he had to resort to the same Jonathan for help, having first damaged the man and his government locally and internationally. It is therefore inconceivable that the governor had expected Jonathan to pick the news of the abduction from the grape vine, security or the media. It is to say the least, unbelievable since he was and still the Chief Security Officer of the state. But the whole story played out as if it was designed for election purposes, which later turned out one of APC’s best campaign strategies because by the time the former president realised that the abduction truly took place, knowing also the buck stopped at his table, it was already a complete mess and the nation is yet to recover from it, two years after. The Suspense, the Drama From when the abduction took place on the night of April 14, 2014, each episode of the drama had been filled with gripping suspense. The most intriguing however, was whether or not the girls will ever be reunited with their families. Until recently, all hope had been lost on the possibility that they were still alive more or less. One of the developments believed to have heightened this apprehension took place at the twilight of the Jonathan administration, when a junior but powerful minister confided in a few journalists during a chat in a hotel on Victoria Island, Lagos, that “Nigerians had better forgotten about ever seeing the girls return alive.” Though he did expatiate on the reason

he made such a conclusion, as at the time he spoke, his confidence showed that he was sure of what he said. Thus, the hope of ever finding the girls was mired in disbelief when President Muhammadu Buhari said on national television during his maiden presidential media chat that he had no intelligence on the whereabouts of the girls. What was to finally seal off the ray of hope that had sustained the unending demand by Nigerians and the rest of the world for the safe return of the girls, was when former president, Chief Olusegun Obasanjo came out boldly on Friday, February 7, 2016 to say the girls were not likely to return alive. “Nobody can bring back the girls for they are nowhere to be found. So, if any leader is promising to bring back Chibok girls, he is lying. Majority of these girls would have died, while those alive would have been married off and others will be victims of sexual violence and human trafficking. “Nigerian leaders should stop deceiving the populace as Chibok girls cannot return again. The disappearance of the Chibok girls is as a result of the nonchalant attitude of the previous leaders, who did not swing to action immediately, which constituted impediment to their return. “Seventy-two hours after the Chibok girls were adopted was too late for their rescue, talk less getting to two years by April,” Obasanjo said when it was exactly 663 days after the incident during an interactive programme of the Obafemi Awolowo University, Ife Staff Club tagged Reflections of an elder statesman: An evening with OBJ. Like him, hate him, not a few Nigerian consider Obasanjo a man with huge knowledge about the country. He commands a lot of respect both locally and internationally and as such, the information was devastating, particularly for the parents. The Credibility Question Two thousand and fourteen was a preelection year. It was period characterised by stiff competition between the then ruling Peoples Democratic Party (PDP) and the newly CONTí D ON NEXT PAGE

T H I S D AY • MONDAY, APRIL 18, 2016

POLITICS/ THE MONDAY DISCOURSE T H E P O L I T I C S T H AT S H A P E D T H E C H I B O K S T O R Y The moment the abduction of the 234 secondary school girls took place in Chibok, Borno State, it ran straight into the web of local politics and through the sheer mismanagement of that critical security matter, the fate of the innocent girls were sealed – sadly, in bad taste. Unfortunately, for former president Goodluck Jonathan, the mood of the nation at the time did not give room for fair hearing formed All Progressives Congress (APC). The frenzy was high and the political atmosphere was consistently charged as the situation was made worse by the tribal and religious colouration of the election that was to come. Unmoved by the lackadaisical attitude of the statement government which politicised the incident from the very start, Jonathan too was condemned as too slow by nearly all. The Northern Elders Forum (NEF), the APC, several other human right groups and countless well-meaning Nigerians said Jonathan doubted the abduction of Chibok girls, although failed to establish why his doubts were genuine. Deputy National Leader of the NEF, Dr. Paul Unongo, said Jonathan had the opportunity to be credited with ending Boko Haram, but he never listened. “He (Jonathan) doubted the kidnap of the Chibok girls and actually was seen on the television dancing azonto. Our people were being killed in hundreds. This was the height of insensitivity and we just had to complain about that. We complained creatively.” It is that disbelief among most PDP stalwarts that again reverberated recently when the Ekiti State Governor, Dr. Ayodele Fayose said about a fortnight ago that the Chibok girls are not missing. He said President Buhari was deluding Nigerians over Chibok girls and that the abduction was a mere political fabrication Fayose, who spoke in Ado Ekiti during a two-day workshop organised by Dr. Joe Okei-Odumakin-led Women Arise for Change Initiative, said: “The cries over missing girls were just a political strategy. What could Boko Haram have used to carry those girls? However, if truly missing, they should be recovered. One thing I know is that what is not missing you cannot get.” The attitude put up by Fayose to the matter was a reflection of what permeated the Jonathan presidency and informed its slow reaction to the matter. Though the girls were taken away on April 14, not until May 4, 2014, before Jonathan spoke publicly about the kidnapping and when he did, he said the government was doing everything it could to find the missing girls. He also blamed parents for not supplying enough information about their missing children to the police. Since then, there have been different stories on the issue of the girls. For instance, a journalist reportedly brokered a deal to secure the release of the girls in exchange for 100 Boko Haram prisoners held in Nigerian jails but that did not see the light of the day after Jonathan consulted with the U.S, Israeli, French and British foreign ministers in Paris, and it was concluded that no deals should be struck with terrorists, and that a solution involving force was required. Still in 2014, on 26 May, the military authority announced that the Nigerian security forces had found the location of the girls, but ruled out the use of force for fears of collateral damage. Sir Andrew Pocock, British High Commissioner to Nigeria said a couple of months after the kidnapping, a group of up to 80 of the Chibok girls were seen by American ‘eye in the sky’ technology but nothing was done about it by the Nigerian government. The girls, a camp and evidence of ground transport vehicles were spotted next to a local landmark called the ‘Tree of Life’ in the Sambisa forest. The New York Times also reported that

Another Bring Back Our Girls protest staged in London

Chibok women also protesting

when the Pentagon came up with actionable intelligence from drone flights on information that might have indicated the location of some of the girls and turned it over to the Nigerian military commanders to follow up, they did nothing with the information. The newspaper which attributed its source to Africa Command officials in Stuttgart, Germany, said shortly after the US offered to help rescue the girls, it flew several hundred surveillance drone flights over the vast, densely forested regions in the North-east Sambisa forest, where the girls were taken, but officials in Stuttgart said with few tips to guide the missions, the flights yielded little information, while diverting drones from other missions in war zones like Iraq and Syria. Blaming the fruitlessness of the mission on mutual mistrust between US and Nigerian officials, it noted that American officials did not include raw intelligence data in the information it provided because they believed that Boko Haram had infiltrated the Nigerian security services. Months later, the drone flights had dwindled, the advisers returned home and not one of the girls was found. Many are believed to have been married off to Boko Haram fighters, who in the past six months have seized hundreds more civilians, including children, planted

bombs in Nigerian cities and captured the entirety of many towns. When an Australian, Stephen Davis, a former Anglican clergyman, contracted by the federal government contacted three Boko Haram commanders, who said they might be prepared to release Chibok schoolgirls in 2015, he got proof of life (a first video of them being raped) and was told 18 of them were seriously ill, some with HIV. How APC Scored with It Before eventually ousting Jonathan, the APC had a lot to say about the Chibok girls’ saga and the Boko Haram terrorist group. The party castigated Jonathan, condemned him and described him as a clueless leader, who had no solution to the activities of the rampaging insurgent group. The APC, through its former National Publicity Secretary and current Minister of Information, Alhaji Lai Mohammed pummeled the Jonathan-led administration and called it various names. In a statement, the party described as “Callous, morbid and insensitive,” the comments by Jonathan that the girls were still alive because Boko Haram would have displayed their bodies if they had been killed. Mohammed thought that the comment was

“deeply offensive to human sensibilities,” adding that the president ought to have spoken on the basis of actionable intelligence and not “twisted, melancholic and offensive logic.” In another tirade, the APC Presidential Campaign Organisation (APCPCO) called on Jonathan to bring back the missing Chibok girls to their parents, rather than sending emissaries to them and making many more pledges as he has always been doing. The Director of Media and Publicity of the APCCO, Mallam Garba Shehu, who made the call said about a year since the girls were kidnapped, all that Nigerians have received were failed promises and dashed hopes. In yet another statement, the APC warned Jonathan to avoid attempting to make any political gains out of girls’ release. The party made mockery of Jonathan in January 2015, when he visited the war torn Maiduguri, the Borno State capital and congratulated the former president for finding the courage to visit the state to encourage troops battling the Boko Haram insurgency. But to underscore that the president was fearful, the party urged him to visit Chibok, Buni Yadi and Potiskum, among other boiling points. Mohammed who issued a statement in Makurdi, said: “We have always said the CONT’D ON NEXT PAGE

T H I S D AY • MONDAY, APRIL 18, 2016

POLITICS/ THE MONDAY DISCOURSE T H E P O L I T I C S T H AT S H A P E D T H E C H I B O K S T O R Y What many would describe as the propaganda machine of the now ruling party, the All Progressives Congress (APC) had dominated public discourse, with agenda set and minds strategically swayed in their choice direction. Therefore, the Jonathan account amounted to nothing but sheer baloney in their estimation. Yet, many could bet that something was curiously amiss in the story as being told about the abduction of the girls President and the Commander-in-Chief of the armed forces should never be afraid to visit anywhere in the country.” It was an era of series of bashing for the past administration by the main opposition APC and for many people, the party seemed more on the side of the people and that got the party a lot of sympathy. In fact, former Akwa Ibom State governor and now Senate Minority Leader, Senator Godswill Akpabio, recently noted that the APC rode on the back of the girls’ kidnap to win the 2015 general election. Akpabio said this during the deliberation of a motion moved by Senator Dino Melaye titled: “The Abduction of Chibok School Girls - Two years after.” He jocularly said the APC and some of its members had cashed in on the girls’ abduction but that they have suddenly gone quiet since winning the election. “I wonder why those who led protests against the government of former President Goodluck Jonathan to rescue the girls have suddenly kept mum. I remember in 2014, Dino Melaye used to wear a T-shirt and he led the protest to ensure that the abducted school girls were released. He was always at the National Fountain to lead a protest against the government. He eventually cashed in on it and won elections. Other people in APC did the same thing,” he said. Without doubts, the APC cashed in on the girls’ abduction to persuade the electorate to vote for President Buhari as a former military General with requisite knowledge that could help bring the girls back. Buhari on the Fray During a town hall meeting in Abuja, Buhari as the presidential candidate of the APC said in March 2015, a few days to the presidential election, that he would do all it takes to rescue the girls He claimed that the Jonathan-led administration lacked the sincerity of purpose required to tackle the problem of insecurity in the North-east and assured the people that his administration would come up with plans that would end insurgency and ethno-religious violence in the country. “I have had the opportunity to serve my country in the military up to the highest level, as a major general and as commander-inchief of the armed forces. In the course of my service, I defended the territorial integrity of Nigeria and if called upon to do so again, I shall rise to the occasion. “As a father, I feel the pain of the victims of insurgency, kidnapping and violence. Under my watch, no force, external or internal, will occupy even an inch of Nigerian soil. I will give it all it takes to ensure that our girls kidnapped from Chibok are rescued and reintegrated with their families.” On many occasions, President Buhari pledged to rescue the girls and one of such was during the activities marking one year of the girls’ kidnap. Buhari, who was then the president-elect insisted that he would ensure that Boko Haram was defeated. Perhaps, none of the president’s comments on the girls was more reassuring than what he said during his inaugural speech, when he said: “We cannot claim to have defeated Boko Haram without rescuing the Chibok girls and all other innocent persons held hostage by insurgents. This government will do all it can

Distraught Chibok mothers being consoled by sympathisers

Protesters in support of the girls

to rescue them alive. Boko Haram is a typical example of small fires causing large fires.” Still following up on his promises to bring back the girls, in December 2015, Buhari said he was willing to negotiate with Boko Haram for the release of the girls without any preconditions. Though President Buhari inherited the case from Jonathan, the burden of getting them out now lies squarely on his government, not only because government is a continuum; it is so because the president promised Nigerians that he would do all that it would take to get the girls out of their predicament. Many Colours of the Protests Soon after the news became an international big deal, protesters marched on to the parliament in Abuja, where they called for action on the release of the girls. Following this, people in cities around the world also took up the gauntlets and organised their own marches in solidarity with Nigeria. A social media campaign under the hashtag #Bringbackourgirls started trending in Nigeria and has since been tweeted more than one million times. It was first used on April 23 at the opening ceremony for a UNESCO event honouring the Nigerian City of Port Harcourt as the 2014 World Book Capital City. A Nigerian lawyer in Abuja, Ibrahim M. Abdullahi, tweeted the call in a speech by Dr. Oby Ezekwesili, Vice-President of the World Bank for Africa to “Bring Back the Girls! Another mass demonstration took place outside the Nigerian Defence Headquarters in Abuja on May 6, and many other protests have since been organised in response to a social media campaign asking for people around the world to march and wear red in solidarity. People came out in protest at the Nigerian

embassy in London, in Los Angeles and New York. John Kerry, the US Secretary of State pledged assistance from the US. Michelle Obama too took the unique step of delivering her husband’s weekly presidential address to express outrage at the kidnapping of the Nigerian schoolgirls. Speaking for the first time in place of her husband, before what is Mothers’ Day, she said they were “outraged and heartbroken” over the abduction of more than 300 girls from a school in Chibok on 14 April. “What happened in Nigeria was not an isolated incident. It’s a story we see every day as girls around the world risk their lives to pursue their ambitions. I want you to know that Barack has directed our government to do everything possible to support the Nigerian government’s efforts to find these girls and bring them home. In these girls, Barack and I see our own daughters. We see their hopes, their dreams, and we can only imagine the anguish their parents are feeling right now.” Ellen Degeneres was quick to jump on the bandwagon. Her original tweet, captioned ‘It can’t happen soon enough’, was retweeted 25,500 times. American rap star, Puff Diddy posted 13 pictures on Instagram, the most widely circulated captioned: “There’s nothing I wouldn’t do to protect my own daughters. I stand with the parents of the abducted Nigerian schoolgirls”. Other celebrity posters include Cara Delevigne, Alexa Chung, Leona Lewis, David Cameron and Malal Yousafzai. Outside of the White House, Hollywood, and A-list celebrities some others have also tried to do more. Simone De Kock, a South African model, posted a picture on Twitter of herself holding a #BringBackOurGirls sign. De Kock, 22, heard about the kidnapping

through a community service charity she is an ambassador for and was horrified to read more about Boko Haram’s views on education for women. US Congresswoman, Frederica Wilson has been a persistent advocate for the girls. She first used the hashtag on May 7, and since then has posted/published hundreds of tweets in an effort to trigger/spark/whip up a “twitter storm”. Wilson travelled to Nigeria to meet with government officials and families of the missing girls and has recently introduced a bill which would authorise US dollars for humanitarian aid to Nigeria and funds to support Boko Haram’s victims. Social entrepreneur, Erica Greve has similarly maintained a high level of interest, travelling to Nigeria on multiple occasions. She was one of the first to speak to the three girls, who escaped the camp in May. In an effort to maintain the public awareness, she has been working with Hollywood talent agencies to keep celebrities posting on the issue CNN’s Video as Hope Renewal During activities marking the second year anniversary of the girls’ abduction a few days ago, the initial hopelessness expressed by some Nigerians about the state of the girls were allayed. The Cable Network News (CNN) came out with a video recording of 15 of the girls last week Wednesday. The satellite television station was said to have obtained the video of some of the girls sent to negotiators by their captors as a proof of life and the video had been seen by negotiators and some members of the government. But government has kept mum, not showing the parents of the girls until CNN went public with it. CNN presented parents of the girls with CONT’D ON NEXT PAGE

T H I S D AY • MONDAY, APRIL 18, 2016

POLITICS/ PERSPECTIVE

A Trial by Hook or Crook The desperation to indict the President of the Senate, Dr. Bukola Saraki at all cost, regardless of the position of the law and due process is evident, writes Olalekan Alabi

o say that a large percentage of the socially and politically conscious Nigerians have followed keenly the continued persecution of the President of the 8th Senate, Dr. Bukola Saraki, for simply defying the odds in clinching the highly coveted position will not be an understatement. The Senate President himself has stated categorically the very reasons he continues to be victimised and treated as such. Hence, one cannot but wonder that if one person, who holds such a sensitive position as this can have his colleagues on the political field of play deliberately tilting things against him and shifting the goal post, then what fate awaits the ordinary Nigerians. In recent times, two matters have come up that once again question the credibility of the supposed war against corruption as bordering more around the precincts of the overall political persecution. First was the rumoured withdrawal of the services of the prosecuting counsel in the matter, Rotimi Jacobs SAN for no just reason other than the fear that he will and even has been compromised having reportedly cut his legal teeth under the tutelage of the defence counsel, the vintage former Minister of Justice and Attorney General of the Federation, Kanu Agabi SAN. The second was the noticeable flaw leading to the apparent withdrawal of two out of the 13-count charges brought against the Senate President. These developments have continued to show that the government is indeed under enormous pressure to deliberately ensure the prosecution and political persecution of the Senate President without any due regard for the rule of law despite no legal backing for the matter at hand. The Danladi Umar-led Code of Conduct Tribunal for reasons both known and unknown remains a major tool towards achieving this end. It remains visible to even the blind and audible to the deaf that a script is in play with very strict instructions to nail, shame and even jail Dr. Bukola Saraki through any and all means possible. This trial has proven to be a manual on getting your enemies by hook, or by crook! We have seen the law bent in the course of the determination of the pretrial matter of jurisdiction particularly regarding salient conditions precedent to arraignment before

Saraki...the final lap

the tribunal. Without the least doubt, when eminent jurists, who have spent a major part of their years on the bench rise and speak on an issue, their thoughts and words remain golden. Retired Justices George Oguntade, Alfa Modibbo Belgore and Samson Odemwingie Uwaifo have spoken unequivocally on the status of the Code of Conduct Tribunal in relation to Courts with criminal jurisdiction unlike the powers that the Code of Conduct Tribunal continues to arrogate onto itself in its own wisdom. Learned Gentlemen and Counsel such as the reputed Constitutional Lawyer, Professor Ben Nwabueze, Chiefs Nnoruka Udechukwu SAN, Emeka Ngige SAN and Mike Ozekhome SAN, as well as a former NBA Chairman, Olisa Agbakoba SAN have also raised the voice of reason to cite the flaws in the prosecution of the case and the extent to which the CCT has continued to go beyond its constitutional bounds, yet no one is willing to do the right thing because to the government, by hook or crook, Saraki must go. Furthermore, the withdrawal of the same set

of charges against the former Minister of Niger Delta Affairs during the PDP Government, Elder Godsday Orubebe as well as the acquittal of former Lagos State Governor and APC Chieftain, Asiwaju Bola Tinubu for the same reasons of not first allowing them to make a statement at/with the Code of Conduct Bureau as a condition precedent to trial at the Tribunal has indeed validated the concerns of many Nigerians that the continued trial of the Senate President is indeed being pulled by disgruntled individuals who soundly hate Dr. Bukola Saraki for his courage and political sagacity in becoming the number three citizen of the federal republic, against their wish. For every adjournment, the CCT, under its Chairman, Danladi Umar will only continue to show to the world its jaundiced and narrow grasp of the law while putting the anti-corruption crusade of the government itself on trial and not Dr. Bukola Saraki. It is indeed also necessary to point out that while the learned prosecuting counsel, Rotimi Jacobs SAN, has taken this matter interestingly personal in his quest to add this

Learned Gentlemen and Counsel such as the reputed Constitutional Lawyer, Professor Ben Nwabueze, Chiefs Nnoruka Udechukwu SAN, Emeka Ngige SAN and Mike Ozekhome SAN, as well as a former NBA Chairman, Olisa Agbakoba SAN have also raised the voice of reason to cite the flaws in the prosecution of the case and the extent to which the CCT has continued to go beyond its constitutional bounds, yet no one is willing to do the right thing because to the government, by hook or crook, Saraki must go Code of Conduct Tribunal conviction to his belts of achievements, he should understand that he remains a pawn in the hands of some Nigerians, who simply want his services to achieve their own selfish aims. I will not end this piece without a word of advice to the learned prosecutor that it remains trite that he maintains and respects the rule of law by allowing the defence access to all legal aids it might require in the pursuit of its quest to prove the innocence of its client. As a concerned Nigerian, I suggest that it is best for the federal government to simply tow the path of honour by withdrawing the matter against the Senate President quietly, apologise unequivocally to him, and take a step further by removing all traces of the currently visible fingers of politics, witchhunting and politicking in order to validate its posture and war against sleaze, graft and corruption. •Alabi wrote from Lagos

T H E P O L I T I C S T H AT S H A P E D T H E C H I B O K S T O R Y the video and three mothers of some of the female students identified their daughters in the new video. The girls – all dressed in full length robes mentioned their names, their school and where they are from. Rifkatu Ayuba, Mary Ishaya and Yana Galang were invited to the viewing centre in Maiduguri by the chairman of Chibok Local Government Area, Bana Lawan and seven of the girls have been identified. So, if the video is not a hoax, there is hope therefore that some of the girls, if not all, are still alive somewhere and could still be reunited with their families. This readily reduces the fears that the girls are never going to be reunited with their parents and loved ones. Now the Ransom Issue Although government has continued to deny it, the truth is that the issue before the front burner now is that Boko Haram is seeking a ransom to release the girls. There were reports that the group is seeking about $50m. It was gathered that the outlawed group presented the demand to the federal government during secret contacts with government and President Buhari, who was said to be willing to negotiate for the girls’ freedom. Before now, part of the demands of the sect, as stated by the group’s leader, Abubakr Shekau, was the release of jailed members in exchange for the girls. The recent video was said to be part of the deal to assure government that the girls are still alive. Government sources have hinted that the huge ransom being demanded is tearing the government apart. While some were of the opinions that the money was worth it, others were of the views that the video was not real

and that money given to the group would only empower them to do more damage to the country. As things stand today, it is unclear what fate would eventually befall the girls. But something remains certain: Nigerians, African and the rest of the world have not heard the last of the Chibok girls. Dead or alive, seen or not, their issue will continue to dominate public discourse and shall remain an allimportant chapter in the country’s strive for an egalitarian society.

The whole story played out as if it was designed for election purposes, which later turned out one of APC’s best campaign strategies. This is because by the time the former president realised that the abduction truly took place, knowing also the buck stopped at his table, it was already a complete mess and the nation is yet to recover from it, two years after.

The Battle Continues… In spite of the video and other indications that the abduction was real and that in fact, some of the girls are alive, there are those who still describe the development as a mere scam. This is why opinions have continued to be divided on the Chibok tales. Mr. Tafal Falowo, a community head in Lambe, Ifo, Ogun State insisted that the “abduction” of the girls was political. He alleged that it was a conspiracy by some politicians to milk the federal government of some money without realising that it would boomerang. This position was supported by Chief Kayode Ajiboye from Omu Aran in Kwara State. He said ordinarily, only a few of the mothers of the girls came out to cry over the abduction while their fathers were never seen. He stressed that Governor Fayose has said it all when he claimed the kidnap was politically orchestrated to embarrass the government of former President Goodluck Jonathan. Although Ajiboye could not prove this, he however accused some political leaders within the Peoples Democratic Party (PDP) of being the masterminds behind the abduction saga. Personal Assistant to the Bayelsa State Governor on Media and Public Affairs, Mr. Alfred Egbegi did not believe the abduction story either. “I don’t believe in the abduction at all. It was one of the gimmicks of the then opposition All Progressives Congress (APC) to embarrass the Goodluck Jonathan government. Now it has become an albatross on their neck. “The inability to find the girls two years after has also exposed the hypocrisy of the western nations, who were hobnobbing with

the opposition at that time to do away with the Jonathan government. They have succeeded but now, let them produce the girls, even with their sophisticated gadgets.” A very angry Egbegi stressed that “The Chibok Girls fiasco was the height of the APC opposition propaganda. Now, what goes around comes around. The APC and President Buhari have to find and present these mystery girls to Nigerians. It shows the height that some desperate people can go in their quest for power.” But this position was not supported by Mr. Gbenga Oyinlola from Okuku in Osun State, who thought it was hypocritical for anybody to suggest that the kidnapping of the girls was contrived. He said with the activities of the Boko Haram in the north east, nothing is beyond the boys, and that he firmly believed the girls were abducted. He however cried that the problem of the country was security and must be taken seriously. He asked: “I cannot see how someone can pick over 200 girls from a school in one swoop and two years later, they still cannot be traced. It is an indication that our security was left to the dogs.” But the former Editor of the Port Harcourtbased defunct Sunray newspaper, Mr. Charles Tambou, insisted the Chibok debacle was a farce. He said there was nothing to show that any girls were abducted. Former Commissioner for Information and Strategy, Bayelsa State, Chief Ebiowei Sokare, said “Sincerely, the look on the faces of the mothers of the girls as seen on television convinced me that there was no trace of pretension. I believe that they were abducted and I pray that they were found.”

MONDAY, APRIL 18, 2016 • T H I S D AY

FEATURES Dumebi Okonta: The Sad End of a Youth Corps Member

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

The burial last week of Samuel Chukwudumebi Okonta, an NYSC member felled by the hot bullets of unknown gunmen while carrying out duties for the Independent National Electoral Commission during the Rivers State rerun elections last month, elicited a lot of emotions and threw up a lot of unanswered questions, writes Omon-Julius Onabu who attended Okonta’s burial at Illah, Delta State

Late Okonta

he outpouring of unrestrained emotions generally characterised his final journey and rites of passage to the beyond. Like the news of his sudden death, his ride to his final resting place attracted people from all works of life across the country. Understandably, the unusual circumstance of his death several weeks ago in the de-facto performance of his mandatory national duty has become a matter for national concern hence his funereal could not pass quietly but had to draw people together. Samuel Cukwudumebi Okonta, a National Youth Service Corps (NYSC) member, was killed during the March 19, 2016 rerun election in Rivers State. He was one of the ad hoc staff recruited by the Independent National Electoral Commission (INEC) for conducting election into vacant national and state legislative positions in the state. Mrs. Bose Aderibigbe, NYSC Director of Press, told THISDAY that the deceased was felled by bullets from unknown gunmen in Ahoada West Local Government area of the state on the fateful day. She noted that Okonta had successfully concluded his day’s assignment at the polling centre and was returning to his residence with others when some unidentified hoodlums opened fire on them. Dumebi, as he was better known, was subsequently rushed for medical attention; but all efforts to revive and save him failed. He and two other persons died as victims from the mindless attack.

The requiem Mass in honour of late Okonta Okonta, who was fondly called “Pastor” by his friends because of his constant effort to express his Christian faith as a Catholic, was committed to Mother Earth on Friday, 8 April, 2016 at Illah in Oshimili North Local Government Area of Delta State. Colleagues and officials of the NYSC from Rivers State featured prominently during the funeral activities, which also opened a discussion forum of sorts on political and national life in Nigeria.

Delivering a homily during funeral Mass at the Holy Family Catholic Church Parish, Illah, Rev Father Henry Ogonwa, decried the do-or-die attitude of politicians and others seeking power in Nigeria, admonishing those who would get power at the expense of other people’s lives to spare a thought for the sanctity of the human life

A fortnight prior to his interment, the DirectorGeneral of the National Youth Service Corps (NYSC) Scheme, Brigadier-General Johnson Olawumi, had paid a condolence visit to the family of late Samuel Okonta at Illah. During the visit, the NYSC Director General had some words of encouragement for corps members serving in the community and elsewhere in the country, advising them not to be demoralised by the unfortunate incident. The delegation also briefly called on the traditional ruler of Illah, HRM, Obi Akazue Gbemudu II, the Ogbelani of Illah, where the NYSC Director-General commended the traditional ruler and residents for prevailing peace in the community. He noted that the reception was friendly in spite of the circumstances that prompted the visit. Perhaps, Olawumi’s personal feeling of great loss was summed up in the few but weighty lines he scribbled in the condolence resister at Dumebi’s home on March 25, 2016. Wrote the NYSC boss: “It is so sad that you were cut down in the process of serving your nation. Myself, the entire management and staff as well as all members of the corps nation-wide are deeply grieved by your death. I promise that I will not relent until we ensure that those who keep you permanently silent forever are brought to book. Adieu, Samuel, and RIP!” Media reports on the condolence visit to the Okonta’s by the NYSC boss rightly showed that the atmosphere at Illah on that day was mournful and pensive. However, the mood on that occasion was nothing compared

with Friday, April 8, 2016 when the slain corps member was finally laid to rest in his father’s compound at Ogbe-Orji Quarters, Illah town. Tears practically rained in torrents and heart-rending lamentation soaked the dreary atmosphere. Torrents of tears flowed uncontrollably and loud wailing rent the air as a team of Rivers State NYSC members and officials arrived the family home of the Okonta’s with the Toyota hiace bearing the slain corps member with close relatives and residents of all ages pouring out to catch a final glimpse of their son and brother. The crowd went into a sorrowful frenzy when, at about 11.23 a.m. corps members brought out the white casket draped in the national green-white-green colours and the NYSC cream and gold colours and logo from the Toyota hiace with registration number, ‘Abuja RSH 414 AS’. A detachment of NYSC members from Rivers State mounted a guard-of-honour during the brief lying in state at the family compound amid mournful cry of “Dumebi.....Dumebi, have you come back to us in a coffin” as well as invocation of curses against his murderers went on unrestrained. The remains of the NYSC member were interred at his family compound at Ogbe-Orji Quarters, Illah after the requiem mass at about 3.40 p.m. witnessed by the clergy and most of the guests from the NYSC and INEC. Delivering a homily during funeral Mass at the Holy Family Catholic Church Parish,

T H I S D AY • MONDAY, APRIL 18, 2016

FEATURES

The casket bearing the remains of Samuel Okonta being carried by his colleagues to the Holy Family Catholic Church Parish, Illah, for requiem Mass

The casket bearing the remains of Samuel Okonta

Director-General of NYSC, Brigadier-General Jonson Olawumi, signing the condolence register at the family home of the late Okonta in Illah, Delta State

Late Okonta

Illah, Rev Father Henry Ogonwa, decried the do-or-die attitude of politicians and others seeking power in Nigeria, admonishing those who would get power at the expense of other people’s lives to spare a thought for the sanctity of the human life. Father Ogonwa, who concelebrated the Mass with reverend fathers Jonathan Allanah (Parish Priest), Peter Mobuogwu and Cornelius Okeibunor, stressed that persons seeking elective positions should brace up to be servants of the people rather than masters who would force the people to give them their mandate to rule over them against their will. He roundly condemned selfish political manipulations in Nigeria, stressing that political violence and killing could never be right or justified. Lamenting that many Africans and Nigerians in particular have become “victims of the political class and of the bourgeoisie”, Ogonwa queried, “Why do you employ thugs to force us to surrender our trust and mandate to you? If you’re plotting to be a leader at the expense of another’s life, then know that your life is worthless because you do not respect human right, you do not respect human life.” With several biblical references, the clergyman urged the people to be conscious of the transience of life always as “whether we like it or not, death will come calling anywhere and at anytime. Life spent in loving others and God who is the ultimate owner of our lives is the only truly worthy life”, he said. He said that he decided to concelebrate the Mass with the parish priest because of his personal closeness to the deceased, who he described as a devout Christian. Before the requiem Mass for the deceased youth corps member, a novelty football match was organised in his honour by the Illah Footballers Association led by the association’s legal adviser, Mr. Nelson Okonma. He noted that the 20-minute duration match, which was played at the Omonka Model Primary School field, Illah, was to honour the deceased “who

loved football so much” as well as to pray against untimely death of Illah people. Director-General of the NYSC, Brig-Gen. David Olawumi, reiterated that the NYSC management empathised with the Okonta family and the entire Illah community in their moment of grief. Olawumi, who was represented at the burial by Mrs. Rhoda Kaka Kwaki, the Director, Corps Welfare and Inspectorate of NYSC, assured that the organisation would remain close to the family of the late Okonta even after the burial. The Rivers State NYSC Coordinator was represented at the funeral by the Assistant

It is noteworthy that the Director-General of the NYSC assured that appropriate steps would be taken to ensure that justice was done by bringing the perpetrators of the killing to book. Not only were the appropriate security agencies working to uncover the murderers, the NYSC management would also do all within its power to, at least, bring consolation to the family and community whose palpable sense of loss was self-evident

Director, Corps Welfare and Health Services, Mrs. Julie Obineka, while Delta State NYSC Coordinator, Mrs. Olive Essien-Etukudor led a team that included the state’s spokeswoman, Mrs. Stella-Maris Mbanefo-Ofodile. The country’s electoral agency also partook in Dumebi’s burial. National Chairman of INEC, Prof. Yakubu Mohammed, said that it was a matter for deep regret that a young and promising Nigerian was being buried because what was meant to be a simple electoral exercise in Rivers State was turned into “a theatre of war” because extreme violence orchestrated by desperate politicians. Represented by Chief Baritor Kpagih, the Delta State Resident Electoral Commissioner (REC), the INEC chairman promised to collaborate in any efforts aimed at immortalising late Samuel Dumebi Okonta even as he promised that the commission would continue to strive to conduct free and fair elections in the country with the rights and choices of the citizens duly respected. With emotion-laden voices, relatives and childhood friends of the deceased did not fail to acknowledge the contributions of all and sundry towards the successful burial of the departed loved one. The immediate elder brother of the deceased, Mr. Henry Ike Okonta, and an uncle, Mr. Alex Ngozi Edebeatu, who spoke glowingly and quite courageously about the deceased, thanked the NYSC, Rivers State government, INEC as well as the Delta State government for their concern since the tragic incident, saying they hoped that Samuel Dumebi Okonta’s killers would be apprehended eventually. Speaking at the church, Henry Okonta even prayed that God would touch the hearts of those who killed his younger brother and others involved in violence and crime, to repent and embrace peaceful lifestyle. Elder sister of the deceased, Mrs. Victoria Akpa, who earlier narrated tearfully how Samuel suffered much during his studies till gradua-

tion from Ambrose Alli University, Ekpoma, revealed that she had almost singlehandedly cared for him when he lost his father in 1993 and mother last year. Ironically, THISDAY learnt, that the deceased had applied for redeployment to Rivers State from Yobe State, where he was originally deplored for the mandatory NYSC service, in the light of prevailing security concerns over the Boko Haram insurgency particularly in some northeastern states. However, like settled fate, the icy stranglehold of insecurity would materialise in Rivers State and snuff life out of Samuel Dumebi. It is noteworthy that the Director-General of the NYSC assured that appropriate steps would be taken to ensure that justice was done by bringing the perpetrators of the killing to book. Not only were the appropriate security agencies working to uncover the murderers, the NYSC management would also do all within its power to, at least, bring consolation to the family and community whose palpable sense of loss was self-evident. Olawumi said that the deceased would be immortalised. The chairman of INEC spoke in the same vein, promising his full cooperation towards immortalisation of Dumebi. Although, the state government was not represented at the burial itself, the Rivers State Governor, Mr. Nyesom Wike, was reported in the media as saying his government would erect an edifice for the NYSC to the memory of the slain corps member. The expectation is that the concerned individuals and organisations would not renege on their promises, irrespective of possible internal organisational changes; and, that Samuel Dumebi Okonta would not have cause to turn in his grave for serving his fatherland with patriotism and paying the supreme sacrifice in the process in vain. Such sentiments are accentuated in the light of growing public resentment about the involvement of NYSC members in polling duties across the country.

IMAGES

T H I S D AY • MONDAY, APRIL 18, 2016

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

L-R: Director, Supply Chain – Go – To – Market, Unilever Nigeria Plc, Mr. George Owusa-Ansah; Procurement Director, Mr. Thomas Mwanza; Managing Director/CEO, Mr. Yaw Nsarkoh; and the Ogun State Governor, Senator Ibikunle Amosun, during a courtesy visit by Unilever Management Team to the Governor, in Abeokuta, Ogun State…recently

L-R; Ondo State Governor, Dr Olusegun Mimiko; Deputy Governor, Alhaji Lasisi Oluboyo; and Commissioner for Local Government / Chieftaincy Affairs, Bamiduro Dada, during the Meeting with the Governor and Chairmen Caretaker Committees and Supervising Councillors of Ondo State recently

L-R: Member Board of Trustee (BOT), Association of Local Government of Nigeria (ALGON), Hon. Idris Gobir; Member BoT, Dr. Bayo Ishola; Secretary,BoT, Dr. Ted Iseghohi; and Acting Chairman (ALGON), Hon. Odunayo Ategbero, during the meeting of BOT of ALGON in Abuja recently. ENOCK REUBEN

L-R, Zonal Education Officer, Sagamu Local Government Area, Mr Salako Taiwo; Proprietress, Advanced Breed Comprehensive College, Mrs. Ogunfowoke Abosede; and Chairman, National Association of Proprietors of Private Schools (NAPPS), Sagamu Zone, Prince Adejuwon David, during the Spelling Bee Competition in Sagamu, Ogun State recently

Director, Clinical Services, National Hospital, Abuja (NHA), Dr. Seyi Oniyangi; Assistant Director, Information/ Protocol, NHA, Dr. Tayo Haastrup; Dean, Postgraduate School, University of Abuja Prof. E. J. C. Nwana; and Mr. Pius Urdinhinwa, during the convocation ceremony of the University of Abuja ...recently.

The Acting Managing Director/Chief Executive Officer, (NDDC), Mrs. Ibim Semenitari; (left), Speaking to the Managing Director of Levant Construction Company, Elie Tannous (right); with others, during project inspection at Ogheye-koko-Escravos road, in Delta State recently

L-R: Visioner/coordinator Precious Vessels Global Care Foundation , Mrs. Precious John-Okpala; Pastor of The Lord’s Worshippers Assembly, Mrs. Helen Nkwo; Chairperson of the Occasion, Olajumoke Adenowo; and Chairman, Board of Trustees of the Foundation, Mr. John Okpala, during the Inauguration of Precious Vessels Global care Foundation in Lagos recently

L-R: EIS/ITBusiness Partner, GSK, Ismail Ajani; Partner Account Manager, English West Africa, Cisco Systems, Abel Iyasele; Solutions Manager, Mobility and MPLS,Weco System, Omotunde Ogunbiyi; and Chief Operating Officer, Weco Systems International Ltd, Nnamdi Onyebuchi, At the internet of things business operations transformation workshop in Lagos recently

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Quick Takes FirstBank Organises Forum for Entrepreneurs

NEW WATER FACTORY

L-R: Vice President, Prof. Yemi Osinbajo; Ona of Abaji, Alh. Adamu Babayunusa; Chairman/ Chief Executive Officer Nestle Waters, Mr. Marco Settembri and Managing Director, Nestle Nigeria Plc, Mr. Dharmesh Gordhon , during the inauguration of Nestle Waters’ factory at Abaji,Abuja…recently

Pension Fund Operators Project N20trn Assets in Eight Years Ebere Nwoji Pension assets will hit the N20 trillion mark in the next eight years, up from the current N5.32 trillion, the Pension Fund Operators Association of Nigeria (PenOp) has said. Chairman, PenOp, Mr. Eguarekhide Longe, who made the disclosure at a media retreat organised by the association in Lagos, also hailed the National Pension Commission (PenCom), the industry regulator, for its latest decision in asking the federal government to transfer its subvention for the year into payment of Accrued Rights of workers who worked for government and were transferred from the old scheme to the contributory pension scheme.

INSURANCE Government is said to be owing over N20 billion Accrued Rights of workers which it supposed to transfer to Contributory Pension Scheme fund managers through PenCom. The non-transfer of the money has been truncating the smooth running of the existing contributory pension scheme and payment of benefits to the workers and pensioners concerned. Longe said pension fund managers cannot in any way compromise in protecting the already accumulated asset from contributors but would guard its safety jealously through wise and profitable investments and develop new ways of growing

the fund. He said one of the ways of growing the fund is through promotion of micro pensions to increase the number of contributors into the scheme. He noted that many Nigerians complained that pension fund investment has not made the desired impact in the economy especially in the area of infrastructural development, explaining pension industry or pension fund managers cannot be blamed for that situation. According to over 70 per cent of pension fund is currently invested in government bond. “It cannot be blamed on the industry but on the structure of the country because there is over 70 per cent of pension fund in government bonds. Some

governments have invested the money in infrastructure to have impact on the local economy and a good example is Lagos State government,” he said. He argued that as a Pension Fund Administrator (PFA), the pension fund managers cannot be held responsible for what government does with money that it borrowed. Longe said ideally, money that is borrowed for reasonable long term should be used to develop reasonable long term project and should not be used to fund recurrent expenditure, “What has government done with all the money it borrowed from institutional investors. For instance, if you borrow $2 billion Continued on page 24

‘Consumer Spending in Nigeria, other African Countries to Hit $2.4trn in 2020’ Eromosele Abiodun McKinsey and Company has projected that consumer spending in Nigeria and other major economies on the African continent will increase from $1.8 trillion (N358.2 trillion) in 2013 to $2.4 trillion (N477.6 trillion) in 2020. McKinsey is a global management consulting firm that serves leading businesses, governments, non- governmental organisations, and not-for-profits. McKinsey in a study entitled, ‘Africa: A Continent of Opportunity for Pharma and Patients’ added that the

ECONOMY number of households with annual incomes above $5,000 (N995, 000) will increase from 134 million to 166 million by 2020. While stressing that urbanisation will be the driver of the growth, McKinsey said there would be 1.5 million households in Lagos with incomes between $20,000 (N3.98 million) and $70,000 (N13.93 million) by 2030. “The African market opportunity is concentrated with 10 of 53 countries – Algeria, Angola, Egypt, Ghana, Kenya, Morocco, Nigeria, South Africa, Sudan and Tunisia – accounting for

81 per cent of Africa’s private consumption in 2011. “The bottom line here is that the perception of Africa as a locale of raw resources only is rapidly changing. Global firms are taking part in what the Wall Street Journal terms a “new gold rush” to cash in on the African consumer. It includes the USbased big-box-store Wal-Mart’s $2.5-billion dollar purchase of a 51-per cent stake in South African retailer Massmart as a prime example,” the report stated. Encouragingly for local manufacturing, the report stated that in Nigeria and six other African economies,

generics had gained market share since 2004 over branded products and over-the-counter medicines. The report gave the example from Nigeria of Merck, which imports only the active pharmaceutical ingredient for its diabetic drug. The company’s local partner, it added, presses the tablets and is responsible for packaging. While pointing out that opportunities may arise in consolidation in Nigeria, the report noted that most of the 400 new pharmacies opened in South Africa since 2006 were Continued on page 24

As part of efforts to build capacity amongst Small and medium Enterprises (SME) players and deepen the development of small and medium scale businesses in Nigeria, First Bank’s Deputy Managing Director, Gbenga Shobo will play host to over 100 SME entrepreneurs across various business sectors at the maiden edition of the 2016 EDC/FirstBank SME Breakfast Series titled: “The Economy and You”. The event will take place in Lagos tomorrow. FirstBank commenced the sponsorship of an SME Radio programme, The Economy & You! in 2015 and it has featured over 30 entrepreneurs since its debut. The overarching objective of the programme is to educate, inform and build capacity for small business owners by providing them with the information and resources needed to grow their businesses. The weekly programme focuses on live interviews of industry experts, accomplished SME entrepreneurs and regulators who take listeners through the process of identifying and making use of opportunities that abound for small and medium businesses in the economy. Discussions also dwell on how SMEs can prepare business plans, budget, deal with tax issues and government policies etc. The breakfast session with FirstBank’s DMD would strengthen the bank’s interaction with SMEs and provide practical help to support their business. According to Shobo, the SME market is one of the bank’s strategic platforms to stimulate economic development.

Hollandia Yoghurt Introduces New Pack

Chi Limited, Nigeria’s market leader in fruit juices and yoghurt drinks has introduced the new 315ml ‘Grab ‘n’ Go mixology pack. The pack allows consumers to enjoy their favorite Hollandia yoghurt mixed with their preferred drink. The mixology Grab ‘n’ Go Pack is already a hit with consumers who love to mix drinks as the smooth texture and great taste of Hollandia Yoghurt goes well with one’s chosen beverage. The Hollandia Mixology Grab ‘n’ Go Packs are also great for on the go fun as they are light and handy, with a specially designed prismatic shape and an attractive screw cap that you feel proud to be seen with. Commenting on the new product, the Managing Director Chi Limited, Mr. Deepanjan Roy said: “We are committed to ensuring that our loyal consumers continue to get value and satisfaction from our products. Our customers are being offered great value with the new Hollandia Mixology Grab ‘n’ Go packs which provide them a tasty and nourishing option to mix with other beverages”. According to him, mixing drinks just got better with the new Hollandia Mixology Grab ‘n’ Go Pack. “ Consumers can now enjoy the smoothest blend and the greatest taste just the way they like it with a handy 315ml pack of their favorite yoghurt to mix with a variety of beverages. Hollandia Yoghurt ‘Mixology” 315ml pack is currently available across Nigeria.

NCS President Visits NCC

The President of the Nigeria Computer Society (NCS), Prof. Sola Aderounmu last week, visited the Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta as part of NCS’ advocacy programme. In his opening address, Aderounmu highlighted NCS’ readiness to work with NCC in the areas of advocacy, research and development, as well as local content and Information and Communications Technology (ICT) innovation and empowerment. Aderounmu also reiterated the importance of commission’s participation in the coming NCS conference taking place in Abuja on July 19th to 21st 2016.The collaboration, according to him, will enable NCC to showcase and exhibit its products to over two thousand participants and by extension, the entire world. Danbatta in his response, expressed the willingness of NCC to collaborate and partner NCS on many areas, especially local content issue, research and development, ICT Innovation/Incubation and empowerment.

“Federal Government of Nigeria’s collaboration with the South Korean government to enhance eGovernment in Nigeria is a welcome development” President, Association of Telecoms Companies of Nigeria (ATCON), Mr. Lanre Ajayi

”

T H I S D AY • MONDAY, APRIL 18, 2016

BUSINESSWORLD PENSION FUND OPERATORS PROJECT N20TRN ASSETS IN EIGHT YEARS

and use it as bail out money, how do you think your creditors will feel. All the money borrowed by government in bonds should have been used to develop infrastructure, it could have had significant impact on the economy,” he said. He spoke on the impact of the current economic depression in the country on pension industry, saying the industry is heavenly affected due to the challenges in the economy. “Remittances have gone down, there is a gap in the payment of accrued right,” he said. He, however, said PenCom has been wonderful as far as the accrued rights issue is concerned, disclosing that the commission has tried to ensure that there is integrity in the system.

‘CONSUMER SPENDING IN NIGERIA, OTHER AFRICAN COUNTRIES TO HIT $2.4TRN IN 2020’

operated by two retailers, and that chains were also expanding in Kenya. Health indicators from official sources in the ministry of health showed the size of the challenge for the authorities. According to estimates from the Nigerian Demographic and Health Survey, infant and under five mortality stand at 69 and 128 deaths per 1,000 live birth. Justifying the huge investment opportunity in the health sector in Nigeria, analysts at FBN Quest noted that the federal government does not have the necessary resources to transform healthcare in Nigeria. For instance, they pointed out that the appropriation bill 2016 makes allocations to the ministry of health of N222 billion ($1.13 billion), the fourth largest, and N36 billion for recurrent and capital spending respectively.

Group Business Editor

Chika Amanze-Nwachuku Maritime Editor

John Iwori

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 (AgriBusiness)

NEWS

NCC: 2.6GHz Will Boost Spectrum Availability for Broadband Emma Okonji The Nigerian Communications Commission (NCC) has restated the importance of the planned auction of the 2.6GHz spectrum frequency, insisting that it will enhance the availability of spectrum for speedy deployment of broadband services across the country. The commission said the spectrum would also create opportunity for the deployment of advanced wireless 4G Long Term Evolution (LTE) technology services, as well as standardisation and harmonisation of telecoms operations. Director, Spectrum Administration at NCC, Mr. Austin Nwaulune, who made the disclosure during an interactive session with journalists in Lagos recently, said the invaluable importance of the 2.6 GHz spectrum to broadband development and penetration, compelled NCC to release an Information Memorandum (IM) on the auction of the spectrum, which is fixed for May 16 this year in Abuja. Stating the pre-qualification process to participate for the bid process, Nwaulune said applicants would not have to be licensed network operators in Nigeria, provided such applicant must be registered with the Corporate Affairs Commission (CAC). The applicant must transfer an Intention-to-Bid Deposit (IBD), which is 10 per cent of the total amount for the number of lots the bidder intends to acquire from among the available 14 lots that the NCC is auctioning. For instance, the reserve price for each lot

of the 2.6GHz spectrum is $16 million and if an operator indicates to acquire six lots, the operator will pay 10 per cent of the total $96 million for the six lots, which is $9.6 million, as part of the pre-qualification process. The bidders must not have any relationship among themselves and a relationship is established when a bidder has directly or indirectly, an ownership stake of 10 per cent or more in another bidder. The spectrum will be offered on a

technology neutral basis and shall be used for national rollout. Time lag for rollout for those that will emerge winners, is put at one year and any operator that fails to rollout within the one year time frame, will automatically lose the licence. According to Nwaulune, the licence is for 10 years and the auction will be carried out in an ascending clock auction. The auction process commenced with the publication of the resumption of the

The International Energy Agency (IEA) has predicted that the outcome of yesterday’s meeting in Doha, Qatar, between the Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC to freeze oil production would have limited impact on physical supply, stressing that the oil markets are unlikely to rebalance before 2017. In an unprecedented show of solidarity against the slump in crude oil prices, OPEC and non-OPEC producers met yesterday to reach a global agreement to freeze oil output, so as to stabilise prices. From as high as $115 per barrel in June 2014, oil collapsed to $27 per barrel in January this year due to increasing oil supplies from OPEC and non-OPEC members. However, prices have recovered to above $40 per barrel in recent weeks following an announcement that major OPEC and non-OPEC producers are due to meet today to reach a deal to freeze global production.

have made full payment for the licence won, and by June 13, 2016, the NCC will announce the winners. The spectrum is considered to be a valuable national resource for which commercial opportunities exist. For the rollout of services, NCC intends to follow the International Telecommunication Union (ITU) recommendation setting aside spectrum in the 2.6GHz band for the provision of advanced wireless broadband services.

OUR SCORECARD

L-R: Non-Executive Director, United Capital Plc, Mr. Emmanuel Nnorom; Group Chief Executive Officer, Mrs. Oluwatoyin Sanni, and Chairman, Mr. Chika Mordi during the company’s annual general meeting in Lagos…recently

IEA Predicts Limited Impact from Oil Producing Countries’ Meeting Ejiofor Alike

2.6GHz frequency spectrum auction notice on February 25, 2016, which is followed by a period for the submission of questions to the commission, relating directly to the licensing process defined in the information memorandum, and the period elapses by April 16. By April 29, the application closes, to give room for the auction committee to scrutinise the applications and inform those that will qualify for the bidding exercise. By June 10, 2016, spectrum winners must

But in its latest monthly report, IEA, the energy advisor to 26 industrialised countries, said if there were to “be a production freeze, rather than a cut, the impact on physical oil supplies will be limited.” The report acknowledged that part of the recent support for prices arose from expectations of the meeting of leading oil producers, which held in Doha, Qatar, on 17 April, 2016. “We cannot know the outcome but if there is to be a production freeze, rather than a cut, the impact on physical oil supplies will be limited,” said the report. “With Saudi Arabia and Russia already producing at or near record rates and very little upside seen apart from Iran any deal struck will not materially impact the global supply-demand balance during the first half of 2016,” the IEA said. According to IEA, within the group of non-OPEC producers, there are few areas of growth with only a handful of countries likely to increase production this year, unless Russia, which has surprised

us all with continued growth in production, does not carry out its professed support for a production freeze. As crude oil production exceeded demand, the world had built record stocks over the past year, in excess of 3 billion barrels, and he IEA had predicted that the stocks would grow by 1.5 million bpd in the first half of 2016, slowing to 0.2 million bpd in the second half - unchanged from last month. IEA also trimmed its estimates for 2016 global demand growth from last month to 1.16 million barrels per day, representing a significant decline from the very strong growth of 1.8 million bpd in 2015 on the back of low oil prices. The IEA noted that demand growth is slowing in China, the United States and much of Europe, stressing that with an estimated demand growth of 300,000 barrels per day, India could replace China as the next destination for global crude. “India could be replacing China as the main engine of global demand growth,” the IEA said.

‘CBN Intervention Fund to Stablise Micro-Finance Banks’ Ugo Aliogo The Managing Director of Daylight Micro-finance Bank, Adeola Ilozobhie, has stated that the Central Bank of Nigeria (CBN) N220 billion Micro Small and Medium Enterprises (MSMEs) intervention fund will help microfinance banks to stabilise, do businesses very well and serve the public better. She noted that if the banks can have the intervention funds at a reduced rate, they will also be able to give it out at very reduced rate to their customers, adding that the intervention fund is expected to be given out at a single unit rate of nine percent. Ilozobhie, who disclosed at the weekend during the one-year anniversary ceremony of the bank in Lagos, said if a customer is given a loan at nine per cent per annum against the 24, 36 and 42 per cent, they will be able to do more and repaying the funds will be easier. The bank chief further stressed that if the interest is high, customers will not be able to make profit and paying back the loan will be difficult for them. She added that it will also be difficult for the banks, “If you are giving loans and it is not been repaid, your depositors’

fund will be going down the drain and you will not be able to meet the depositors’ demand as at when due.” She explained that the bank has been able to stand out in the last one year because of their unique customer oriented packages. “We design our products according to the needs of our customers and the environment we find ourselves. This has enabled us to have more customers. Our interest rate is two per cent, with the highest been 3.577 and the processes are fast. We do buy over of loans, asset acquisition, LPO finance, salary account, micro-lease, and micro-mortgage, but the main thing is our interest rates. Our future projection is to move from State licensed micro-finance bank to national, from there to regional,” she stated. According to her, Daylight micro-finance bank started operations with a total of 15 staff on April 15, 2015 with a paid up share capital of N100 million. But today, we are proud to say that the staff strength has grown up to 30 with a customers’ base of 2,304. Total loans booked stood at N232.130 million and our gross earning as at March 31, stood at N46.904 million,” she said.

T H I S D AY • MONDAY, APRIL 18, 2016

BUSINESSWORLD

MARKET REPORT

Stock Market Continues Decline Despite Increased Trading Goddy Egene and Eromosele Abiodun

at 24,79.27 points, down by 0.11 per cent, corresponding to market capitalisation of N8.5trillion. Bearish sentiment towards the stocks of PZ Cussons Plc and Conoil Plc was largely responsible for the day’s negative close, wiping off gains in Seplat Plc, UACN Plc. Nonetheless, activity level was up by 61 per cent and 73 per cent as volume and value of trade ended the session at about 437million units and N2.78 billion respectively. A breakdown of trading activities indicated that UBA Plc and Guaranty Trust Bank Plc saw the biggest volume of trade with about 250million and 42million units each.

It was another bearish week for investors in the Nigerian equities market as the market remained southwards despite renewed interest in notable banking counters. Some traders believe last week’s performance was probably in response to potential delisting of Nigeria from MSCI index. At the close of trades, the NSE All-Share Index and market capitalisation depreciated by 2.40 per cent to close the week at 24,719.27 and N8.503 trillion respectively. Similarly, all other Indices finished lower during the week, with the exception of the NSE Premium Index, NSE ASeM Index, NSE Banking Index, NSE Insurance Index and the NSE Pension Index that rose by 0.45 per cent, 0.38 per cent, 0.31 per cent, 1.86 per cent and 0.55 per cent respectively. The previous week, the market had closed lower shedding 0.70 per cent driven predominately by sell offs in the industrial sector, which closed down 1.50 per cent. Reacting to the performance last week, analysts stated that the market’s performance and the level of activity may not be unconnected to the lack of positive news flow. “Going forward, we expect the market to remain low in the immediate. However, we are optimistic in the medium to long term on expectation of better fiscal management, the administration’s capital expenditure spending and social intervention programmes. As such, we advise investors with a medium to long term horizon to take advantage of the depressed price levels and building positions in quality names,” analysts at Investment One Limited, said. Daily Performance Summary Trading had resumed on a weak note last Monday as the ASI went down 2.68 per cent with the mark down of Dangote Cement Plc stocks for dividend. Dangote Cement Plc, Nigerian Breweries Plc and Zenith Bank Plc closed in the red cancelling out the gains in Flour Mills Plc, AXA Mansard Insurance Plc and NASCON Allied Industries Plc. The day’s session saw a new low in terms of market turnover with value of trade closing at N750 million, corresponding to volume of trade of over 225million units. A further breakdown of activity indicated that Equity Assurance Plc and FCMB Group were the most traded stocks with about 44 million and 28million units trade each. On Tuesday, the Nigerian bourse recorded a marginal loss of 0.04 per cent as rebound in banking stocks toward the end of trading day rescued the index from a heavy fall. The ASI index ended the day at 24,639.48 points having declined as low as 24,567.72 points during intraday. Negative close in Dangote Cement Plc, United Bank for Africa Plc and ETI Plc, cancelled out gains in Zenith Bank Plc, Guaranty Trust Bank Plc and FBN Holdings Plc driving the index to a negative close with market capitalisation staying at N8.47 trillion. With depressed price level after Monday’s heavy fall serving as incentive for investors, volume and value of trade were up by 29 per cent and 54 per cent each as investors’ staked N1.15 billion on over 290 million units of shares in

3,440 deals. Equity Assurance Plc and FCMB Group maintained their position as the most traded stocks with about 59 million and 39 million units trade each. The market ended Wednesday’s session almost flat, shedding 0.01 per cent as increased interest in key banking stocks boost the performance of the index. The ASI closed the session at 24,637.91 points, corresponding to market capitalisation of N8.48 trillion. Gains in Guaranty Trust Bank Plc, Nigerian Breweries Plc and Zenith Bank Plc were offset by losses in Nestle Nigeria Plc, Access Bank Plc and Moil Nigeria Plc, contracting the index by almost 2 points. Market activity declined from the previous day’s level with volume and value traded fell by 44 per cent and 12 per cent respectively, to end the session at about 162 million units and N1.024 billion respectively. Zenith Bank Plc and Transcorp Plc emerged toast of investors on the day with over 23 million and 18 million units trade respectively. At the close of business on Thursday, major sub-sector indices closed positive as the Nigerian bourse halt a five consecutive days of bearish run. The ASI gained 0.44 per cent, ending the day’s session at 24,746.16 points corresponding to market capitalisation of N8.5trillion. Banking and Industrial tickers Guaranty Trust Bank Plc, Zenith Bank Plc and Lafarge Africa Plc drove the index to a positive close, cancelling out losses in Sterling Bank Plc, UACN

Plc and FBN Holdings Plc. Activity level trended upwards with volume and value of trade advancing by 67 per cent and 57 per cent to end the session at about 272 million units of

TOP TEN BROKERS(BY VALUE)

shares and N1.61billion respectively. However, the market closed negative last Friday reversing the previous day’s bullish run. The benchmark ASI ended the session

AS AT LAST FRIDAY

BROKER RENCAP SECURITIES (NIG) LIMITED EFCP LIMITED STANBIC IBTC STOCKBROKERS LIMITED CHAPEL HILL DENHAM SECURITIES LTD - BRD CSL STOCKBROKERS LIMITED CORDROS CAPITAL LIMITED - BRD READINGS INVESTMENTS LIMITED - BDR AFRICAN ALLIANCE STOCKBROKERS LTD FBN SECURITIES LIMITED CARDINALSTONE SECURITIES LIMITED

TOP TEN BROKERS

(BY VOLUME)

BROKER READINGS INVESTMENTS LIMITED - BDR

VALUE

% VALUE

3,029,928,928.90

24.39

1,991,379,148.45 1,474,871,991.27 584,346,885.25 549,685,670.27 459,135,684.44 356,122,711.05 293,142,073.72 204,431,956.76 202,968,081.92 9,146,013,132.03

16.03 11.87 4.70 4.42 3.70 2.87 2.36 1.65 1.63 73.61

AS LAST FRIDAY VOLUME %VOLUME 197,329,576

8.88

EFCP LIMITED

165,350,873

7.44

STANBIC IBTC STOCKBROKERS LIMITED

150,091,848

6.75

RENCAP SECURITIES (NIG) LIMITED

131,838,813

5.93

APEL ASSET LIMITED - BRD

114,482,438

5.15

MORGAN CAPITAL SECURITIES LIMITED

101,237,846

4.56

CSL STOCKBROKERS LIMITED

95,953,482

4.32

FBN SECURITIES LIMITED

62,432,379

2.81

CARDINALSTONESECURITIESLIMITED

57,516,208

2.59

FORTE FINANCIAL LIMITED

57,393,232

2.58

1,133,626,695

51.01

Market Turnover During the week under review, a turnover of 8.054 billion shares worth N13.328 billion in 15,212 deals were traded by investors on the floor of the Exchange in contrast to a total of 1.111 billion shares valued at N6.201 billion that exchanged hands the previous week in 15,315 deals. The Financial Services Industry led the activity chart with 7.890 billion shares valued at N10.807 billion traded in 9,730 deals, thus contributing 97.96 per cent and 81.09 per cent to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 61.402 million shares worth N93.053 million in 605 deals. The third place was occupied by the Consumer Goods Industry with a turnover of 48.978 million shares worth N1.017 billion in 2,238 deals. Trading in Wema Bank Plc, United Bank For Africa Plc and Guaranty Trust Bank Plc accounted for 7.133 billion shares worth N8.954 billion in 2,364 deals, contributing 88.56 per cent and 67.18 per cent to the total equity turnover volume and value respectively. Also traded during the week were a total of 690 units of Exchange Traded Products (ETPs) valued at N572,158.80 executed in 28 deals, compared with a total of 24,200 units valued at N621,286 transacted the prior week in 26 deals. A total of 28,280 units of Federal and State Government Bonds valued at N29.572 million were traded in 8 deals compared to a total of 6,908 units of Federal Government Bonds valued at N7.739 million transacted the previous week in seven deals. Gainers and Losers Meanwhile, a total of 26 equities appreciated during the week, lower than 27 equities of the previous week. Conversely, 41 equities depreciated in price, higher than 40 equities of the previous week, while 122 equities remained unchanged same as the previous week. The top 10 gainers were: Seplat Plc (N21.85), Guaranty Trust Bank Plc (N1.07), E-Tranzact (69 kobo), ), Oando Plc(51 kobo) Caverton Plc (21 kobo AxaMansard Plc (18 kobo), McNichols Plc (11 kobo), United Capital Plc ( nine kobo), Continental reinsurance Plc (six kobo) and Unity BankPlc ( four kobo). Conversely, the top 10 losers were: PZ Cussons Plc (N2.28), Conoil Plc (N1.95), UBN Plc (83 kobo), NigerianGerman Chemicals Plc (60 kobo), Access Bank Plc (31 kobo), Fidson Healthcare Plc (24 kobo), Ikeja Hotel Plc (22 kobo), and Tiger Branded Consumer (17 kobo). Law Union & Rock Plc (12 kobo) Transcorp Hotels Plc (eight kobo).

T H I S D AY • MONDAY, APRIL 18, 2016

BUSINESSWORLD

INSIDE BROAD STREET STATUS REPORT

Interbank Rates Rise on Cash Shortage

A view of Lagos financial district

AKINWUNMI IBRAHIM

Support for Skill Acquisition Nume Ekeghe That number of young graduates turning to vocational jobs after the compulsory National Youth Service Corps (NYSC) instead of going in search of white collar jobs is on the rise. What may be interesting now is that this trend is gaining traction on daily basis. At mechanic workshops, fashion shops and hair salons, youths with academic degrees and diplomas are gradually displacing the hitherto unlearned trainees. The new trend was epitomised by Amarachi Agufobi, a graduate of Economics from the University of Nigeria, Nsukka, and Kehinde Oluwafemi, who holds a Higher National Diploma in Business Administration. The two young graduates recently beat other nominees from different parts of the country to clinch first and second positions (fashion designers’ category) in this year’s National Skills Competition, an event organised by the Bank of Industry (BoI). The awardees started their journey into the competitive fashion making industry at the Field of Skills and Dream Academy (FSD), an Ikeja-based foremost vocational training centre, last year. The Imo State-born Agufobi, who won the fashion competition with a wedding gown made with local fabric, was still an NYSC member when she registered for the nine-month intensive course in fashion at FSD. On his part, Oluwafemi, had finished his national service and had a stint in clothes making at a roadside shop. But, according to him, he joined FSD because he needed

MARKET INDICATOR to learn from professionals. Their decisions have paid off in the form of cash prizes and equipment they will get from BoI to set up their fashion shops. While some graduates are still on the streets of Lagos, Port Harcourt and other major cities searching for scarce white-collar jobs, the two are already making a living from fashion design. Speaking in an interview, Agufobi said she had no intention of seeking a paid job any more as her new found vocation has the potential to fulfil her childhood dream – running a successful business. She said: “I have always wanted to be a successful business woman. But I needed to acquire education first. With my sowing skill, I think I am close to fulfilling my dreams. I don’t have to look for a job anymore. I want start my business so that I can grow to become an employer of labour.” On the difference the award has made in her life, the 26-year old economics graduate said her confidence had been boosted. She also said many clients had more confidence in what she could do after the honour. “I cannot believe that I, the same person who was making clothes in a corner of a room has received a national award in fashion designing. Apart from the prestige and the financial reward, what interests me most is the fact that successful fashion designers have accepted to mentor me. For me, this is the most valuable aspect of the honour. But above all, I appreciate the FSD who took

time to train me in the art of cloth making. The award would not have come without the centre,” she said. Agufobi called on Nigerian youths to take advantage of the opportunities made available by training institutes to acquire skills that would make them self-reliant rather seeking unavailable jobs. According to her, her passion for clothing started when she was very young. She narrated how at a tender age she discovered her as gifts, just as she described her encounter with the FSD as the magic that unlocked her hidden talents. Also, 27-year old Oluwafemi said he had started harvesting the gains of the award less than a month when he was honoured as the first runner-up in the fashion category. According to him, his fashion label – Q&Q Stiches – has started gaining recognition since the award as he had started getting several jobs that come based on referrals. While he hopes to concentrate on developing his brand, Oluwafemi hopes to establish a training institute to help Nigerians with interest in vocations to find their feet. He said the ambition is anchored on the impacts of the FSD on Nigerian youths, saying: “Nigeria needs more of similar initiatives.” For the Founder and Executive Director of FSD, Mrs. Omowale Ogunrinde, who acknowledged the place of God factor in the initiative, the awards were an indication that the academy was doing something unique. She said her fulfilment came from watching Nigerians who passed through the centre grew their grown into big entrepreneurs.

UBA, Charlie Boy Bus Stop, Gbagada, Lagos Nume Ekeghe Situated on the highway, this branch has some impressive and different features. On the day this branch was monitored, banking operations were going on smoothly. There were four tellers attending to regular transactions, two customer service personnel, and other operations staff members. Although small, this branch was clean, organised and well structured. The services

INSIDE BANKING HALL at this branch were good. Although there was a steady influx of customers into this branch, the staff were able to manage the crowd and attend to customers in a timely manner. The customer service at this branch was different. Used to having a section created for customer service, this branch, however,

had its customer service officers on same section as the tellers. Nonetheless, the officials were very professional, polite and attended to their customers with a smile on their faces. This branch should be commended for its impressive customer service and its timely response in attending to customers. But it was observed that two out of its three ATMs were not functioning as at the time of these findings. This should be corrected.

Shortage of cash in the banking system last week led to an increase in the overnight tenor of the Nigerian Interbank Offered Rates (NIBOR). The central bank also sold about N63.98 billion of 7-month treasury bills at nine per cent on Thursday to further curtail excess liquidity in the banking system. As a result of this, the open buy back (OBB) and overnight rates on Friday closed the week at four per cent and 4.5 per cent respectively, up by 0.9 per cent each week-on-week. Activities in the treasury bills market was mixed last week as average treasury bills rate closed at 7.3 per cent on Monday but rose 0.2 per cent to 7.4 per cent on Tuesday as liquidity levels dropped on the back of banks’ provisioning for forex auction. “In the week ahead, we expect money market rates to be dictated by liquidity dynamics as well as the provisioning and refunds for forex and open market operations (OMO) mop-ups. There is a net treasury bills maturity of N167.5 billion on Thursday, the impact of this on liquidity levels is however expected to be offset by treasury bills auction of the same net amount,” analysts at Afrinvest West Africa stated. Also, the forex market last week enjoyed stability. Though the spread between the official and parallel market remained, the volatility recorded in rates earlier in the year has subdued. The CBN, however, is still unable to meet the dollar demands as seen in the amount returned by the CBN to the bank for unfilled bids at the forex auction. The official rate at the CBN remained at N197/$1 whilst naira/dollar rates at the interbank stayed at N199/$1. The naira was stable at the Bureau De Change as it exchanged at N320.00/$1 on all trading days of the week. The parallel market also remained stable last week, as the naira traded at N323/$1 on all trading day of the week except Monday when it appreciated by N1 to N322.00/$1. “Next week, we expect that the stability at all segments of the foreign exchange market will continue as speculative pressures remain passive,” Afrinvest stated. In the bond market, similar to the preceding week, activities in the bonds market were mixed last week. Average yield across benchmark bonds closed at 11.6 per cent at the end of the first trading session of the week, rising five basis points from the last trading session of the preceding week. On Tuesday, average yield across benchmark bonds rose 0.3 per cent as the market reacted to inflation figures released. The Debt Management Office carried out a bonds auction on Wednesday with the re-issuance of N20 billion, N40 billion and N50 billion of the FGN FEB2020, FGN JAN2026 and FGN MAR2036 bonds at marginal rates of 12 per cent, 12.6 per cent and 13.1 per cent respectively.

CBN Governor, Godwin Emefiele

T H I S D AY • MONDAY, APRIL 18, 2016

BUSINESSWORLD

INTERVIEW

Atoki: All CPC Interventions are Backed by Law The Director General, Consumer Protection Council, Mrs. Dupe Atoki, lays bare the council’s determination to use all within its enabling powers to seek redress for consumers of goods and services, wherever there are infringements on their rights. She spoke to James Emejo our weekly television programmes in-house, we have saved the government a lot of money. We don’t need consultants to do that right now and so we have our weekly television programme which airs every Thursday 8.30 p.m on NTA International. We take a topic every week and we engage the topic and sensitise the consumer. We also have a weekly television programme on same Thursday on the federal radio corporation by 12.30-which helps us also to talk to consumers-and we have a very viral social media-I can say that consumers are more aware of their rights since my assumption of office and also the existence of the council. We have formidable success stories of consumers who show appreciation...gradually, we are creeping into the subconscious mind of consumers but we still have a long way to go and our sectoral interventions have yielded results in the areas which we have intervened. The story so far is that we have just tried to constantly engage consumers in the various platforms that we have, making sure that we are able to get their confidence; that we are available to protect them and all they need is just to complain and we ensure that their complaints are addressed. But also to check the massive inflow of complaints by modifying the behaviour of businesses themselves to begin to provide proper service which at the end of the day will reduce complains.

Given that the majority of Nigerians are still unaware of the functions of the CPC, could you provide the clear-cut mandate of the council? The Consumer Protection Council (CPC) was set up to provide redress for consumers in their engagement in product or service. It is generally the agency of government to take care of the interest of consumers and so considering the fact that in the market place, the consumer drives the economy and it is expected that there would be certain level of dissatisfaction with the products and services that are sold-and considering that we are still in the third world. The council was set up to ensure that where there’s a failure in the market, there’s a redress for consumers. So our basic mandate is to ensure that wherever consumers put their money, either in product or service, they get value for it and if there’s a failure, there’s a redress platform available in the CPC. So primarily, it is to provide redress and the law says speedily as well-and to also take campaigns that will lead to consumer awareness. As you are aware, if a consumer is aware, he is more proactive and can engage businesses to get satisfaction. We also have the mandate to remove haphazard products from the market that may be the cause of health situations and we are also able to enforce any law that protects consumers wherever it is situated in any sector as long as that regulation is to protect the consumers. If the regulator is not protecting the consumers in that area, we can use their laws to protect them-so basically the CPC stands as the watchdog over businesses to ensure that consumers who spend their money to buy a product or pay for service get value for their money. Is your mandate restricted to the private sector alone? Any business, whether privately driven or publicly driven, as long as consumers pay for it, then the consumer is entitled to value for it. There is no separation as to whether we can engage just private businesses. Wherever you are running a business or the government is running a business, if they take consumers’ money, then they should provide value for it. In view of the level of impunity in the country, what was the state of consumer rights violations when you took over the helm of affairs at the council three years ago? That is very important. As you would recall, I took over this mandate in the middle of 2013 and for quite a while I was lost as to where to start from because of the myriad of consumer abuses in every sector. If you take the telecoms sector, there were issues and still are-unsolicited messages, drop calls and poor network. If you look at aviation, there are flight delays and cancellations without redress; in the banking sector, there were lots of issues with the ATMs at that time as that was just coming in at that point, and currently we are trending with bank charges; in the power sector then, the unbundling was just coming up when I took over office but prior to that there were issues with PHCN-lack of adequate supply of electricity, food and beverages-in all services and products, there were abuses all over the place. So it was a huge challenge to be able to come up with a focused intervention that will be productive and will be time driven. Nigerians are very impatient and you need to come up with a strategy that covers the whole country with

Atoki speed and spread. So, basically, I would say that every sector had issues with consumer abuses at the time I took over office. Today, a hitherto relatively unknown CPC has gradually crept into the sub-consciousness of Nigerians, what has been your story so far? Thank you. I just reeled out the market situation when I took over office in order to effectively become productive in our interventions. It was actually necessary to have some data, one, about the visibility of the council, about the awareness of the consumer right and the awareness of where to get redress. So I carried out a survey which indicated that consumer awareness was very low, which I expected. And of course, there was gross impunity among businesses which is characteristic when there is no appropriate umpire to guide and to direct compliance. So, having found that, I then drew a four-year strategic plan which focuses on three main tripods. One, there is a great need to do an aggressive consumer sensitisation awareness to raise the awareness of consumers to know their rights and to be able to assert it to ensure that we begin to curb impunity. Secondly, in view of the widespread consumer

abuses, it became imperative that we could not address these abuses based on individual redress and so we came up with a sectoral intervention, where we take a sector of the economy and look at the abuses there, and intervene by addressing some of the issues and thereby sanitising that sector because an intervention in one of the big players in that sector will modify the behaviours of everybody and that’s what we have seen in the various interventions we have made-and so it reduces the number of complaints of the global compliance in that sector; and therefore, we now would be left with very minor complains in that sector. And so that has helped us. And the other arm of the strategy is to therefore, ensure compliance including prosecution, if necessary, because as you do know, businesses all over would like to thrive and enjoy as much profit as they can, sometimes, even at the expense of the consumers but if there are enactments which can be enforced to bring them to compliance, then it must be put into practice. So, these are the plans that we have engaged in the last few years and currently, I can say that in the advocacy sector, we have an in-house studio where our staff are now trained. We produce

What is the update on your recent interventions in the foods and beverages, telecoms and aviation sectors of the economy? In the food and beverage, you are aware of all that transpired as a first attempt to actually bring to compliance a multinational from CPC’s point of view. After all the antagonism, the prosecution of the key actors in the company, there is agreement to comply with the Council’s order and what we have observed is that the system is now cleaner in terms of the process and the products and the council now receives far less complaints than we did before arising from compliance. There are fewer complaints on half-filled cans, which was rampant or foreign substances in drinks then, there is great compliance arising from that. With the aviation, it is still an area which is still work in progress. I think there is still need for that sector to recognise the importance of CPC in the protection of the aviation customers. But you are aware that the council has requested for the prosecution of the Turkish airline arising from non-compliance with the order of the council and the Attorney General had actually given it 21-day notice for compliance. Again, that is the way we want to go to ensure that when the council rises up in response to complaints, we ensure that the businesses will respond and in the event of failure, we have our laws and we just put them into practice and that is one of the examples where we are hoping that it would not lead to prosecution and that the airline will comply in order to ensure that passengers also get value for money when they pay for transportation by air. The telecoms sector also is one area where a large number of consumers have complaints in different areas including unsolicited messages. You will recall that just this week(last week), I visited the Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Danbata for us to agree on how to work together to bring compliance as it regards CONTINUED ON PAGE 28

T H I S D AY • MONDAY, APRIL 18, 2016

BUSINESSWORLD

INTERVIEW

ATOKI: ALL CPC INTERVENTIONS ARE BACKED BY LAW some of these complaints and I think the meeting was fruitful and very shortly, some of these complaints are going to be a thing of the past in the telecoms sector. Why was the CPC relatively not visible before your assumption of office or were the enabling laws recently amended to give the council more bite? The law is as I met it. So there hasn’t been any new law so far but I am not able to hold brief for somebody else’s tenure but I do know or I can say that the law may have been implemented much better than what it was in the past, because I am a lawyer by profession-maybe that gives me an edge and so I know the law and I know the extent I can do. And I think that whatever we have been able to do since I came, it is because we back every action by law and we try not work outside the law so that businesses do not hold us to ransom. So I believe that the staff are still the same, the law is still the same, our budget is even smaller than what was available before but I think that it is basically knowing the mandate and using the law to get what the mandate empowers you to do. Would you seek to amend the CPC Act any time soon to enable you engage in more proactive operations? To a large extent, what we have is good enough in terms of the powers.What we need is empowerment to use those laws to achieve the mandate. We could need empowerment to set up offices in a number of states. You know currently we only have six offices, we should actually have at a minimum, an office in each state-that’s not in our law but we have to be empowered to set up that. If we work with what we have now, we would be disadvantaged to the extent that we would not be able to protect consumers. But it could be better. We could have an enhancement in the law for instance in the area of e-commerce because that was not trending when the law was passed. So if we need any amendment if you ask me, it’s just to empower us in these new areas of trending that has come up, otherwise, the same laws that we have had for the past 16 years are the same law that we are using and are yielding some level of results. There have been increasing complaints by Nigerians on the alleged arbitrary hike in bank charges. What immediate steps are you taking to rescue consumers in the financial services sector? Let me say to consumers here that these charges are approved by the Central Bank of Nigeria(CBN) and to the extent that they are approved by the bank, there is a limit to our intervention on that. But what we would be looking at is whether the banks operate charges in line with CBN regulation and we do have occasions where the banks have stepped out of boundary as provided by the CBN. For example, the current stamp duty is limited to current account but we get complaints that banks also charge those fees on savings account. So in that area which we were able to look into, the charges themselves, we would not be able to contest with CBN why those charges exist but if they exist and are supported by law, then we just ensure that banks play by the rules and we have redressed a lot of individual complains that come to us where banks have step out of bound but we are planning that we need to actually expose these charges to consumers so they know that these are the approved charges and they are able to match them with alerts they get from the banks because right now, if I ask you, you won’t know what these charges are, you just get an alert to say X amount has been deducted. So we are working towards ensuring that this is available on various platforms for everybody to know that these are the approved charges and if we do that, it will also reduce the tendency for banks to over shoot those charges because they know everybody knows exactly what amount has been approved for various activities. Are you mandated to venture into the electricity sector where there has been consumer outcry over dissatisfaction in

Atoki service offer, particularly the recent increase in electricity tariff? Yes, of course, all of us are affected by this but I go back to the mandate of the council again. Areas of pricing, tariffs and associated issues are strictly out of the mandate of the council. Now, if a business decides that it wants to sell its product for X amount, it is not up to us to say no, it is too expensive, you can’t do that, what we will say is that okay, you sell it for X amount, we want to ensure that the consumer gets value for that X amount. So issues of tariffs and costs do not rest with us. But when they have a competition law, it then will make it easy for the agency that will be implementing that competition law to begin to look into areas of pricing and tariffs to ensure there’s a level ground. But having said that, we are very well aware of the concerns of consumers not only with the tariff but even with the electricity supply itself as well as the metering, which is a sore point on most consumers. In that area we are able to intervene and we have had meetings with NERC, to work together to implement their regulation particularly on consumers who have paid for meters and yet are billed arbitrarily. When that happens, that consumer should not only be billed, they should not be disconnected. So we are working to bring this to the attention of the consumers to say these are your rights if you fall within this category and you are entitled to refuse being billed or to refuse disconnection. There are quite a number of areas where we are not in a position to intervene but we do know that they because concerns. However, where the activities are unscrupulous and they exploit consumers, we are on top of it and we will redress it; there are so many commendations that we have received from consumers... like I did say, we have a lot on our plate which we can’t wish away by a magic wand but gradually, it is like an elephant-we are nipping here and there, taking the low hanging fruits and getting into the sub-consciousness of consumers to always make a complaint and don’t grumble. My word to consumers is that it is your money, you earned it, don’t give it as a gift to businesses-complain! and I think we are very committed on this side to ensure value for money for consumers. As laudable as the CPC objectives are, Nigerians still believe your operations are limited considering the magnitude of consumer rights abuse in business organisations across the country. What are your greatest constraints? Yes, we can say there’s still a lot more to be done but what we have done should not be underrated. There is still a lot more which I also agree and like I did say from the beginning

that the vast level of abuse in Nigeria was something that was overwhelming even at the beginning we needed to find a proper strategy to address it. We have not gotten there at all but we have taken good strive towards energising consumers to fight for their rights by engaging in a proactive way that would get redress for them. And so what are the handicaps? For me, my philosophy is that I don’t always want to dwell on challenges to excuse failure, and that’s what I have engrained in the personnel in CPC-it is a poor easy way out to justify failure-everybody will always have one challenge. When you are successful, it is how you have been able to rise over a challenge. Nevertheless, there are numerous handicaps. One was the level of understanding of the mandate even by the staff themselves because they are the foot soldiers and that I redressed by making sure that all the staff were trained on the act itself and they do now understand exactly what is expected of them in the implementation of the mandate. The second one is the limited staff strength. The whole of CPC is about 260 staff to protect about 170 million people and matched with six offices in a country that has 36 states and in a vibrant consumer economy. So you can see that we were doomed to fail from the beginning on our manpower level to be able to meet our expectation; and then the normal funding which I always don’t want to talk about-it becomes a sing song and nobody takes you seriously when you say you are not funded. So, what I have done is to approach international donors. They have supported us to a very large extent to do what we are doing to get to the level that we are. I would say that to a limited extent, there are inter-agency rivalry where some sector regulator build a barrier and believe that they are the sole-authority in that sector-and the fact is that we remain the apex agency of government to protect consumers of product and service across board. A sector regulator will usually have their core mandate. Protection of consumers under that sector cannot be fully situated with them. In fact, we conclude that you cannot be a regulator and a protector of consumers under that sector-it’s impossible. Because you regulate, you deal with businesses, you know their challenges, you empathise with them, you find reasons for failure, you can’t then on one hand force them into compliance with your standards that you have set and at the same time looking at the consumer perspective and be able to protect. So it’s naturally not possible-while I will not dwell more on that because we have powers to override anyone who blocks our entry into any sector but it is there. It is visible, it exists with us but I decided to concentrate on the providers in

that sector away from the regulator because they are the ones that are obliged to work with the council and obey and comply with the sectors. I believe that once we get to be appropriately funded, the capacity in the council is a continuous one-we will keep building on what we have and we would keep using our powers as long as the authorities are in support of what we are doing. The challenge is huge but like I did say, I overlooked it and try to see how I can solve them and leave a successful legacy here. What legacy would you want to leave behind after the expiration of your tenure? I would wish that at the end of my tenure that CPC would be a more significant driver of consumer rights protection in Nigeria and I say a ‘more’ because we would continue to escalate our achievements as the years go in. We are significant but I want it to be a very great significant driver by protecting, educating, empowering consumers, representing all consumers and enabling them to become assertive and responsible in market place through the full application of the consumer protection law with respect to integrity, professionalism, empathy and fairness to all. As I have rounded it up on the implementation of the law-that’s what will drive the significant interface of the council with its mandate of the general protection of consumers in Nigeria. And I do hope that whoever is taking over will continue and improve on where we have stopped. Considering your tight official schedule, how do you relax after every business day? I found out that when I took up this job, I don’t even have a closing time in terms of the fact that I may not be in the office but I am at home working, I have at all times a notepad besides me where I jot down ideas and keep working. So I don’t have a closing time so to speak. But apart from that, I enjoy my company a lot. I enjoy my garden at home, weekends I sit down and relax, my children are all grown up but I spend a lot of time with my children and grandchildren, which allows me to see what they are doing actually. There’s a lot of time we spend together courtesy of the internet but I do enjoy my company and I do find time to read spiritual books because in all that I do here I give all the glory to God. He gives the uncommon wisdom and I think it is the uncommon wisdom He has given me that has helped me to override these challenges that are not new-they have been there and He has given me that support. When am not busy doing anything, I am busy meditating and keying into God’s presence where it’s very relaxing.

T H I S D AY • MONDAY, APRIL 18, 2016

BUSINESSWORLD

PERSPECTIVE

2016 Budget And The Floating N54Billion By Bruno Emenike In Nigeria when there is a major revelation involving highly placed individuals, it is often greeted with glee by the average Nigerian who feels that the elite, especially those in public office, have cheated them for long. It was therefore little wonder when the budget debacle that has turned into Telemundo exploded yet again last week. At the heart of the recent crisis is the furore over the LagosCalabar rail line which was allegedly yanked off by the National Assembly. Feeling weighed in and tired of being made the scapegoat by the executive, the National Assembly in a first of some muscle showing issued an edict to the President Muhammadu Buhari’s regime to desist from casting it in the mould of Brutus in Caesar’s palace. If many would recall, the 2016 budget has gone through many hiccups that many began to doubt if it would ever see the light of the day. For those persuaded by this line of thought, it seems their wish may just come to fruition as it has become increasingly embarrassing with certain new revelations coming to light. For those in the know, the Minister of Transportation, Mr. Rotimi Amaechi, is alleged to have planted the story that is hanging round his neck like an albatross. What is the story

Amaechi

about? It was reported in a wide section of the media that the National Assembly had yanked off the vital Lagos-Calabar rail artery and redistributed the allocation for the project to some other areas the lawmakers considered as ‘priority areas.” Expectedly, the backlash was instant, unrelenting and threatening. But if those who rushed to judgment had exercised some patience, they would not have had to take back their words and eaten the humble pie. First to throw light on the imbroglio is the House

Minister of Budget and National Planning, Udoma Udo Udoma

Chairman on Appropriation, Hon. Abdulmumin Jibrin, who practically called Amaechi a liar. The most telling denunciation of the minister was the rebuttal by the Senate in a statement signed by Sen. Aliyu Sabi Abdullahi, who heads the Upper Chamber’s Committee on Media and Public Affairs. In the statement titled; Presidency: Enough is Enough, Stop Setting the People Against Us, the Senate advised the Presidency to come clean with Nigerians on the 2016 budget and stop engaging in surreptitious campaigns of calumny against the Senate in order to cover up its serial errors. He said: “while the executive is mandated to prepare and lay before the National Assembly a proposed budget detailing projects to be executed, it should be made clear that the responsibility and power of appropriation lies with the National Assembly. If the presidency expects us to return the budget proposal to them without any adjustments, then some people must be living in a different era and probably have not come to terms with democracy… “These latest antics of this particular minister of transportation, Rotimi Amaechi, is reckless, uncalled for and dangerously divisive. Apart from setting the people of the Southern part of the country against their Northern compatriots, it potentially sets the people against their lawmakers from the concerned constituencies and sets the lawmakers against themselves. This manner of reprehensible mischief has no place in a democracy. We hereby demand from Mr. Amaechi a publicly tendered apology if he is not able to show evidence that the Lagos-Calabar rail project was included in

the budget. Otherwise, he should resign forthwith.” The takeaway from the statement by the Senate is that Amaechi is not only reckless, but dangerous not just to the regime of President Buhari, but a divisive element with the potential to plunge this country into avoidable crisis. What more, the Senators just confirmed what discerning Nigerians have known for long that the Minister of Transportation is mischief personified who habours no prick of conscience as to his serial acts of divisiveness. Not many Nigerians will forget the fact that Amaechi during the Rivers State governorship, National and State Assembly elections abdicated his responsibilities as a minister of the Federal Republic of Nigeria to engage in arbitrary muscle flexing, and caused serious breach of the peace of Rivers State. When concerned Nigerians raised the matter of his improprieties in Rivers State, some saw it from the prism of partisan politics. But it is heart-warming that many are beginning to realize the terror which Amaechi symbolizes; a cunny, deadly and surreptitious individual who is capable of the most reprehensible act. What Amaechi has allegedly done with his ‘unholy ‘’ injections into the budget are not merely to circumvent the process, but to undermine the Office of the President and disregard legislative authority by deciding on his own what ought to be or not. If anyone is still in doubt, one needs not look farther than the faux pas of Senator Gbenga Ashafa in trying to put up a ‘spirited’ defence for the embattled minister in his capacity as chairman, ‘Land Transportation’ in

the Senate. According to Ashafa, “In so doing, the committee observed that the Lagos to Kano rail rehabilitation project had been allocated the sum of N52 Billion Naira as against the sum of 60 billion which the Hon. Minister requested as counterpart funding while no allocation whatsoever was made for the Lagos to Calabar rail line. “Hence, the sum of 54 billion Naira that was discovered by the Senate Committee on Land Transport to be floating in the budget of the Ministry of Transporta-

tion as presented by the Executive was injected into augmenting the funds needed for counterpart funding of both projects (Lagos to Kano and Lagos to Calabar Rail modernisation) …” Does it not amount to sacrilege that a princely N54 billion was found to be “floating in the budget of the Ministry of Transportation as presented by the Executive?” Is floating not merely a euphemism for corruption, theft of public funds by Amaechi? It should be remembered that Amaechi has strenuously refused to give proper account of his tenure, characterized by gross malfeasances, as governor of Rivers state even when an opportunity was offered him to do so. In one of the greatest ironies of modern appointments in Nigeria, President Buhari gave an important ministry as transportation to a man that squandered over N45 billion on a monorail that barely left where the foundation stone was laid. Well, as it is said in Nigeria’s local parlance, wind done blow, fowl yansh done show! The wind blowing from the National Assembly offers Nigerians the opportunity to truly situate a man whose kernel was broken by the gods but has become drunk on the tocsin of power and ambition like Mephistopheles. Emenike wrote in through brunoemenike@gmail.com

T H I S D AY • MONDAY, APRIL 18, 2016

BUSINESSWORLD

NEWS

Brandzone Organises Summit to Foster Growth Brandzone Consulting LLC in conjunction with its knowledge development arm Brand platform Lecture Series, is set to host a bare-it-all summit on “Branding in a volatile Economy.” The summit will take place on Tuesday, May 10, 2016 in Ikoyi, Lagos. The event, according to the company, is a gathering designed to enable practitioners and brand visionaries/owners to share insights on branding and growth strategies inclusive of opportunities inherent in the market place locally and globally. The keynote speaker at this year’s summit is President of the Nigerian Stock Exchange, Mr. Aigboje Aig-Imoukhuede. He

would be joined by other speakers such as: Managing Director, Unilever Nigeria, Yaw Nzarkoh; Lead Consultant, AD Consult, Olajumoke Adenowo; CEO, HealthPlus , Bukky George, and Managing Partner, Red Media Africa/Co-Founder, The FutureAwards, Chude Jideonwo. Speaking on the summit, the Managing Partner Brandzone Consulting LLC and Convener of the programme, Chizor Malize said: “As the nation grapples with the impact of dwindling oil fortunes, devalued currency and weakened economy, there is no better time to become more creative with brands and branding for quality, competitiveness and growth.” According to her, the marginal propensity to consume

and the disposable income of consumer in a wobbling economy is shrinking due to the prevalent uncertainties. “Consumers become more discerning and selective in their consumption habits owing to the lull in the economy. This also have impact in sales and revenue and therefore further weaken corporations overall performance. It therefore, behooves the practitioners in the industry as well as business and brand visioners to innovatively and strategically connect their brands with the consumer minds to remain relevant and ensure continuity in patronage, growth and profitability,” she said. Continuing, she opined that “today’s economic realities

have significantly changed the behavioural and consumption paradigm of consumers. Therefore, there is the ‘battle’ to maintain a share of the consumers mind and wallet through cutting edge branding solutions. There is, therefore, the need for strategic and conscientious approaches towards attracting, engaging and retaining consumers of goods and services of companies and organisations in meeting the expectations of their consumers. So, essentially, one of the crucial take-aways for participants at the summit is that they will be availed the technical/ professional know-hows to continue to drive their brands through growth and profitability- even in the midst of economic volatility.”

Malize explained that the dynamics for branding and marketing is totally different today as brands battle for consumers’ minds and wallets. “The mechanism for customer engagement has also changed with the emergent of more innovative communication platforms predominantly driven by technology. The Summit will provide participants insights into the 21st Century consumer engagement strategies that would help practitioners and brand owners shape and create robust and winning customer engagement platforms for brands while developing positive relationships and associations that elicits excitement and action by consumers,” she added.

According to her, the participation of executives from top performing organisations ensures that we create excellent content and a summit that delivers maximum value. She disclosed that the resource packed summit programme includes a keynote address and four different plenary sessions and panel discussions all anchored by industry experts. “The sessions will examine a wide variety of topics relevant to building successful brands in the 21st century. It would provide insight and new knowledge to brand managers on how to keep brands on the path of growth and profitability even in the most un-conducive business climate,” Malize noted.

Samsung Partners FG, Skool Media on ‘Smart School Rollout’ Emma Okonji

SUPPORT FOR FASHION

L-R: Managing Director, PAL Pensions, Dave Uduanu; Co-Founder, Studio One Eight Nine, Abrima Erwiah; Creative Director, LDA, Lanre Dasilva-Ajayi; Creative Director, Tiffany Amber, Folake Folarin Coker, and the Moderator of the Event, Ebuka Uchendu, at the Lagos Fashion Business series in Lagos…recently ETOP UKUTT

Activist Explains Persistent Power Outages in Edo Communities Civil society activist, Reverend Olu Martins, has explained to residents of communities in Egor area of Benin, Edo state that they are experiencing power outages from Benin Electricity Distribution Plc (BEDC) because Generating Companies (GenCos) are not able to generate enough electricity for domestic and industrial needs. Martins, who made the assertion during a town hall meeting held in Ugbowo, said there was a great challenge of power in Nigeria with less than 5,000 megawatts to a population of 170 million, stressing that the current energy output of 1,500 was a reflection of the perennial energy crisis that was yet to be addressed. He explained that the power sector has been starved with investment since 1984 whereas

the country has increased in population and infrastructure, adding that current operators of BEDC spent huge amount to purchase the company and “it is only natural for them like businessman to get their returns on investment and equally make profit, hence they are to give services only to those who will pay for it.” The civil society activist noted that the government was not subsiding electricity or any point of the power value chain, namely generation, transmission or distribution. He stressed that power is no longer a social but commercial commodity, whose prices is determined by the forces of demand and supply. Martins, who supported the recent tariff review, which saw a slight increase in tariff and

removal of fixed charge, urged communities to manage their consumption by switching off appliances when not in use. Also speaking, Chief State Head, Edo, Fidelis Obishai, explained that the quantum of energy supplied to BEDC from the national grid was barely sufficient more so with the system collapse experienced at the generation point of the value chain. He therefore urged customers to pay for the little energy they were getting. “BEDC is here to distribute electricity and collect revenue. With a customer base of 750,000 in our coverage states we need 2,600 megawatt but we only get 320 megawatts, which means we don’t have enough to distribute. BEDC is not punishing anybody

through inadequate supply but resorted to load management to ensure that all customers get a feel of what is given to us” Obishai stated. He said BEDC has not been able to collect money to the tune of the amount it pays for the cost of power, stressing that customers should strive to pay whatever little they were getting to enable BEDC honour obligation to various tiers of the value chain. Responding to customers’ questions on staff impersonation and vandalism, the Edo state chief head said that BEDC has concluded plans to issue out uniforms for linesmen and technical staffers to discourage the scourge of impersonation and illegal connection within the network.

Samsung Electronics West Africa, in collaboration with the Federal Ministry of Education and Skool Media, has come up with an initiative called ‘Smart School Rollout’ that will help digitise classrooms on the platform of mobile learning across unity schools in Nigeria. The initiative is borne out of Samsung’s commitment towards the establishment of digital learning, through the use of technology within the Nigerian educational system. The initiative, according to Samsung, would help to digitize classrooms across 104 Unity Schools in Nigeria, where Samsung tablet devices would be paired with relevant and applicable educational content, customised with Skool Media content, while also kitting classrooms across the schools with Samsung electronic boards, wireless printers and wireless connectivity. The essence is to turn classrooms across Unity Schools in Nigeria into ‘Smart classrooms’ where learning is practical, fun, progressive and impactful. Speaking on the new partnership, Director, Business to Business, Samsung Electronics West Africa, Charles Ojei said: “This solution provides tablets for students with relevant and practical educational content hence putting the classroom in the palms of the students. This makes the classroom interactive, collaborative and conducive for students and teachers. The solution also provides security of the device and helps the schools to filter contents consumed by students.” He explained that the initiative would turn out to be a laudable milestone in the Nigerian educational system, giving both teachers and students control over the classroom and also helping students to stay in an atmosphere that makes learning easier and more memorable. Skool Media, an ICT solution based initiative that attempts to redefine the goals of education

to transform how learning is practiced each day, and to expand the range of measures in student achievement, in order to meet the new demands of the 21st Century, had a memorandum of understanding (MoU) with Samsung electronics as a technology partner to provide technical expertise as a company that is experienced in the delivery of educational services and solution. Commenting on the initiative, Project Director, Skool Media, Moses Imayi said: “Our aim is that through this partnership with Samsung and the Federal Ministry of Education, we can promote information, communication and technological development in Nigeria while providing tools for facilitating our process values. The vision is to see the average Nigerian student become familiar and truly comfortable with learning in a digitized classroom.” He added that a lot of Nigerian students are not familiar with new learning tools such as tablets, electronics boards and even accessing appropriate educational content online and the purpose of the partnership is to change that mindset within the students and the teachers. Representing the Minister of Education, Mr. Adamu Adamu, the Permanent Secretary, Ministry of Information, Dr. Folasade Yemi-Esan, expressed her excitement about the impact that the initiative would have on education. She applauded Samsung’s effort and contribution towards technology development within the country. “We are indeed grateful to Samsung for tapping into the goal of the Ministry of Education to train quality teachers. We encourage all beneficiaries of this project to take full ownership of the project and let the improved quality of teaching reflect in our students’ results,” she said. The Permanent Secretary urged all stakeholders in the education sector to partner the ministry to salvage the country’s educational system.

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T H I S D AY •THURSDAY, APRIL 14, 2016 31

BUSINESSWORLD

E-BUSINESS NEWS

‘VoLTE Service Will Enhance Voice Calls in Nigeria’ Stories by Emma Okonji The Chief Executive Officer of Smile Communications Limited, Mr. Michiel Buitelaar, has said that the introduction of Voice over Long Term Evolution (LTE) on its 4G LTE network will not only give Nigerians the best of speed in voice and data connectivity, but will also offer voice clarity and call reliability. Buitelaar, who spoke in Lagos recently, said Smile Communications is keen at making another impressive mark with voice as a new complement to the entire package which it has for the rapidly growing Nigerian market. “We are a bit more advanced in our operations than a good number of our competitors in all the market segments. The market is moving much faster

in the broadband direction and we want Nigerians to embrace the broadband as the place to be. There are a lot of quality issues in the Nigerian market and there are a lot of opportunities for those that provide real quality, like breaking one’s call and getting immediate value from the network. The quality of our voice will definitely beat the existing benchmark in the Nigerian market,” he said. According to him, the major focus of the company is to continue to function as a broadband provider of choice that can take people away from low speed and low quality service in a new world that craves for speed. He said the issue of quality must be upper most in the company’s strategic plans because of the fact that there are lots of small trading

outfits in Nigeria that desire very fast ways of getting to their clients before others. He explained that the provision of huge digital speed could offer his company the leeway and the added leverage to reach their destination where people can enjoy data speed and talk with voice clarity and confidence. Buitelaar, who is optimistic that the Smile voice outreach will make another market impression that could vindicate the quality of the entire services provisions that emerge from the platform as a big basket of offerings, said the company

would strive to create the Information Technology (IT) industry as a motor for digital economy, where all the other facets of Nigeria’s economy will use to make their marks in business development and service. He said because Nigeria has many people with IT knowledge, those providing services for the industry must be completely equal to the task, both in terms of skills and right frame of mind. He believes that a lot of developers of e-commerce are still emerging and other companies are embracing that with high speed connectivity

service offerings. Explaining how the Nigeria economy can leverage IT development, Buitelaar said the best way is to create a significant IT industry to serve the growing population of technology savvy Nigerians. “Nigeria has good number of university graduates with lots IT skills. You need to have a decent infrastructure, as well as common and reliable access to internet connectivity. Nigeria needs human skill, infrastructure. The economy requires people that can move into e-business,” Buitelaar said. Speaking on the strategy to

achieve a true VoLTE service on the Smile 4G LTE network, Buitelaar said: “Our market strategy is to be the voice provider of choice. We sell broadband data, and it is something we intend to own and we plan to capture the market in such a way that we take people away from what they are used to, which is a narrowband piece that comes with low quality, to a supper fast 4G LTE broadband platform. I think everything we do, whether data or voice, is built upon that and is a key selling point for us in the broadband market space.”

VoguePay Seeks Industry Collaboration to Address Cybercrime VoguePay, Nigeria’s payment platform, is seeking industry collaboration to curb the activities of cybercriminals in Nigeria. VoguePay, at a conference in Lagos recently, explained the need for industry collaboration towards protecting e-payment transactions in the country. The company, which identified lack of cohesive coordination between the payment industry and security agencies, as major reason for the high rate of cyber attacks on the Nigerian superhighway, said there was need for industry collaboration to control the menace. According to the company, which started operations in 2012 with less than $100 and now processes an average of $10 million transactions on a monthly basis, it had to develop one of the best robust security networks to provide safe and secure transactions for its businesses using its platform for financial transfers. VoguePay gives a unique insight into the security challenges faced by international businesses, both large and small. It is of the view that organisations are reluctant to tackle the problem at its roots, with some security agencies having the attitude that businesses can mitigate the risk via insurance pay-outs. It said the best way is for industry players in the e-payment space to collectively tackle the challenge. The Chief Executive Officer of VoguePay, Mr. Michael Simeon, said the VoguePay’s review of fraudulent transactions, revealed that the pattern detected by its security parameters points to an increase in deliberate collaboration between crime syndicates, using geo-location to avoid detection. He stressed that even when caught, the cyber criminals use geo-location patterns to avoid prosecution. Simeon said a criminal could be using a card issued in the USA to perform transactions in the United Kingdom, via a merchant in China, saying this way, the criminals are taking full advantage of the lack of cross-country coordination when it comes to fighting

cyber-crime. Simeon believes that cyber criminals are well aware of the constraints affecting cyber-security authorities, which include coordination, cooperation, culture and budget. He, however, noted that VoguePay plays a crucial role to protect its users, helping both merchants and customers to prevent and deter transactions that could prove to be fraudulent or result to potential charge-back transactions. While there is no single security tool to eliminate cyber security threats, Simeon said businesses must apply series of security measures including Know Your Customer (KYC), in the fight against cyber-attacks. He explained that the data collected through KYC is an important tool in the fight against cybercrime as it helps to reduce potential threats. In providing security for Small and Medium Enterprises (SME) audience, he said VoguePay has enjoyed a market growth of 22 per cent month on month from SMEs for the last 10 months, which is making the firm to lend its voice to the need for collaboration between payment processors, card issuers and security agencies in terms of reporting and investigating incidents and apprehending perpetrators. The Chief Operating Officer, VoguePay, Mr. Leke Ojikutu, highlighted that the company understood the market and the Nigerian e-payment train. “We engage in proactive anti-fraud approach, engages industry partnership and collaboration, real-time monitoring of our system by a dedicated unit in-house, merchant monitoring system, among others,” he said. Speaking in the same vein, the Chief Operations Officer of the company, Mr. Kwan Ojikutu, said as part of efforts to strengthen the e-payment platform, VoguePay in the process of concluding its Payment Card Identity (PCI-DSS) certification, recommended by the Central Bank of Nigeria (CBN) for players in the payment industry.

FOR SKILLS DEVELOPMENT

L-R: Representative of the Director-General, Nigerian Information Technology Development Agency (NITDA), Dr. Chris Okeke; Executive Vice Chairman/CEO Nigerian Communications Commission (NCC), Prof. Umar Danbatta and Ag. Director-General, National Institute of Policy and Strategic Studies (NIPSS), Mr. Jonathan Juma, during a Senior Executive Course programme organised by NIPSS in Jos, Plateau State...recently

Subscribers Commend Globacom on Stable Data Growth Subscribers to Glo internet services have commended the network for the robust quality of services and unique data plans available on its platform. The commendation followed recent mobile data subscription in Nigeria released by the Nigerian Communications Commission (NCC), where Globacom maintained a steady increase in data subscription number on its network for seven consecutive months. While there is a decline in the total number of mobile data subscription across mobile networks in the country, Globacom remained the leader. Nigeria’s mobile data internet subscription had risen to 97.8 million in 2005, but the figure declined to 93.6 million in February 2016, according to statistics posted recently on the NCC’s website. Details of the NCC result on mobile internet penetration show that Airtel attained 17.8 million internet subscriptions in October 2015, which was the highest so far, but had a decline in January 2016, with 16.9 million mobile internet subscribers, while Etisalat had a rise of 15.6 million mobile internet subscriptions in September 2015, which declined to 15.23 million as at February 2016.

MTN also had 41.84 million mobile internet subscriptions in September 2015, but the figure declined to 35.6 million in February 2016. Globacom however, had a steady growth in its mobile internet subscriptions from 20.77 million in August 2015 to 21.9 million in September 2015, and it continued rising on a monthly basis until it hit the 25.69 million mobile internet subscription number in February 2016, which is its highest so far. Several subscribers who reacted to recent industry reports confirming Glo as the preferred network for new internet users, pointed to the speed and reliability of connectivity as well as the unmatched value offered by the network’s data plans as reasons for choosing Glo. Funke Ishola, a Lagos-based analyst said her experience on the Glo network has been amazing. “Glo internet service has been awesome. I only switched to Globacom about a year ago and since then, the services have been awesome in relation to speed and reliability,”Ishola said. “Another thing I enjoy is the hotspot connection,” she continued. “I can easily connect to my laptop via the hotspot.

Focus Softnet Set to Expand Operations in West African Focus Softnet Services has perfected its strategy to dominate the enterprise software market space in West Africa. Utilising its now unique franchising scheme, the company is presently using the access of its partners in the local market to create a comfortable relationship for its customers in the region. Focus Softnet has a rich history of innovation, growth and global expansion with an extensive worldwide network of offices spread across several countries. Since its inception in 1992 in India, Focus Softnet has established itself as a global vendor with global reach, through its own local offices and support teams and through its business associates. In its bid to reach customers in the Tier 11 and Tier 111 markets across the globe, the company decided to adopt the franchising route in 2011. According to Vice President, Business Development at Focus Softnet India, Faisal Mohammed Raziuddin, “The global Enterprise Resource Planning (ERP) market has been in the upswing since 2014 and projected to grow more in 2016. There is a huge opportunity waiting to be captured as 40 per cent of the market is unorganised, with the dominance of local

and regional players in the market. With the Small and Medium Enterprise (SME) segment growing, the need for ERP is also increasing, which is being fulfilled by Focus Softnet through our entry level, mid-range and specialised product range that can be easily customised to suit every business’ requirements.” Managing Director of Focus Softnet Services Nigeria Limited, Emeakpor Moses Uvomata, said:”The franchising scheme, which recently led to the birth of its Nigerian and West African presence, Focus Softnet Services Nigeria Limited, has further strengthened the brand presence of the company in the region. He explained that the strategic entry into the Nigerian market is to ensure adequate servicing of the West African sub region. “Focus Softnet is a supermarket of enterprise software solutions and there’s no better place to kick-start the entry into the west African sub region other than from Nigeria. We have perfected our market entry strategies in Ghana, Cameroon, Gambia, Sierra Leone, Liberia, and others and we’ll be reeling out our activities in these markets from April 2016,” Uvomata said.

MONDAY APRIL 18, 2016 T H I S D AY

T H I S D AY MONDAY APRIL 18, 2016

T H I S D AY • MONDAY, APRIL 18, 2016

BUSINESSWORLD

NEWS

Adesina, NITDA, Others Endorse Book on Telecoms Emma Okonji

A book, capturing the importance of telecommunications in the Nigerian economy, titled: ‘Our Nigerian Story’, which catalogues the development of telecommunications in Nigeria, with impeccable solutions on the way forward for the telecoms industry, has been commended and endorsed by the Office of the Special Adviser on Media and Publicity to President Muhammadu Buhari, as well as other key stakeholders. Other stakeholders that endorsed the book, which is slated for launch on May 5, 2016,, Lagos, include the National Information Technology Development Agency of Nigeria (NITDA), Zinox Technology Group,

Slot Technologies, and Sun Newspapers. The telecoms book, authored by Bisi Olaleye will be launched under the chairmanship of the Chairman of Zinox Technology Group, Leo- Stan Ekeh. Special Adviser on Media and Publicity to President Muhammadu Buhari, Mr. Femi Adesina, while commending the book, said: “the author has distinguished herself in the industry with more than a decade of experience in telecoms reporting, and has witnessed industry milestones and key policy formulations in the sector.” He added, “The book is coming at a time when the Buhari administration is reposition the ICT sector to become of the biggest contributor to

Gross Domestic Product (GDP) of the economy. It is a book that should be in the archive of every Nigerian. It is written in a simplified way that will attract Nigerians as well as the non-reading society.” The book also highlights how the demographic dividend of the large population of Nigeria, which is still growing, served as a critical factor that attracted telecoms investment into the country with the sector presently boasting of over $32 billion investment from about the $500 million in 2001. “ Olaleye, has painstakingly put the story in a book format for business decision purposes,” he added. According to Ekeh,”This is a worthy project from an authority in the industry. The author is well known to me

and has been documenting the growth of our company and the industry. Zinox will do everything possible to support the worthy cause.” Managing Director/ Editor in Chief, Sun Newspapers, Mr. Eric Osagie, said: “This is an entrepreneurial project that should be encouraged and commended by all. The author is one of our own and we are proud that she has been a good ambassador of The Sun Publishing Limited, publishers of The Sun titles.” Also lending his voice to the book, the Acting Director-General NITDA, Dr. Vincent Olatunji, said: “We are proud to support ‘Our Nigerian Story’, a chronicle of success stories of companies and agencies in the telecoms sector.”

AGRIC DEVELOPMENT ON THEIR MINDS

L-R: Director, Animal Production and Husbandry, Ministry of Agriculture, Dr. Egejuru Eze; Slagelse Dairy Farm Manager, Mr. Ole Hansen, and Member, House Committee on Agriculture, House of Representatives, Hon. Hassan Saleh, during a visit of the Nigerian government delegation to Arla Foods’ Dairy Facility in Denmark… recently.

Rotary Club Boosts Small Business with Interest-free Loan Sunday Okobi No fewer than 10 small scale business owners were last week given N50, 000 credit facility each by the Rotary Club of Omole Golden to improve their businesses. It was the second tranche of an interest-free micro-credit scheme established by the club to assist young Nigerians boost their business. The first set of 10 beneficiaries had obtained the loan earlier in September. Speaking at the ceremony in Lagos, the club’s President, Mr. Idowu Afelogun, said the intervention fund which has grown over the years, was meant to give small businessmen suffering from cash flow crisis a new lease of life. “We found out that so many young persons have had their dreams cut short as a result of lack of funds. So many others who could afford to start their businesses do not have the capital to move their

business forward. That is why we decided to set up a microcredit scheme to assist anyone in business,” he said. Afelogun added that the club also engaged in vocational and skill acquisition training and some of its graduates have also benefited from the scheme. He said each of the beneficiaries is expected to pay back the credit facility in six months, adding that facility is open to all beneficiaries who faithfully repay their loan. Afelogun advised the beneficiaries to make good use of the credit extended to them and be a good ambassador of their guarantors for the facility. He urged the guarantors to continue to mentor their wards to ensure that they succeed in their endeavours, as their failure will jeopardise the continuation of the project. The Omole-Golden Rotary club also praised the body for being able to sustain the project for the past four years, adding

that the encouraging success rate is an indication of the rate of acceptability of the club’s activity in the society. He said the club achieved about 90 per cent recovery rate of the credit earlier issued to beneficiaries in September, adding that the moved had encouraged the club in ensuring the take-off of the second batch. The Chairman of the Micro credit Project Mrs. Yemisi Balogun, had earlier said three previous beneficiaries had also qualified for the second exercise. She urged the seven newly qualified beneficiaries to make very good use of the funds in order to encourage the club in doing more for the society. Balogun, who is the Vice President of the club, said 25 persons had applied for the facility out of which seven had met the strict conditions set by the club. He observed that the credit facility had been of tremendous

benefit to small business owners and start-ups in retaining their businesses, adding that the Rotary Club of Omole Golden will continue to innovate ways of impacting more on the society. A symbolic cheque was presented to all the beneficiaries by the President of the club, Afelogun; President of the Rotary Club of Abuja City, Moses Danjuma, and the Chartered President of the club, Mr. Olurotimi Adeleye, among other dignitaries at the event. Some of the beneficiaries hailed the club for coming to the aid of small business owners. Mr. Monday Audu, a phone repairer and accessories dealer, who was having challenges expanding his business as a result of low cash inflow, commended the club for the assistance. Another artisan, Mr. Andrew Samuel, who deals on recharge cards, said the money would enable him expand his business.

Oni joins FirstBank Board as Odubola Retires First Bank of Nigeria Limited has announced the appointment of Dr. Remi Oni to its Board of Directors as Executive Director(ED), Corporate Banking from April 15, 2016. The bank also announced the retirement of Mr. Abiodun Odubola as ED, effective June 30, 2016. Odubola’s retirement is to enable him pursue his personal interests. Until this appointment, Oni was ED, Corporate and Institutional Banking, Nigeria and West Africa at Standard Chartered Bank. He also had concurrent primary responsibilities for the international corporates client segment business for Standard Chartered Bank(SCB) in West Africa. Prior to his appointment as ED in Nigeria and West Africa, Oni held a variety of senior management roles including Executive Director/Head of Origination & Client Coverage at SCB in Uganda and concurrently Regional Head, Network Clients business for SCB in Africa and Head of Local Corporates in SCB Nigeria. “A seasoned banker with over 24 years experience in Corporate Banking, Corporate Finance, Commercial Banking and Retail Banking, Remi brings to bear on the Board of FirstBank practical skills set in the areas of deals origination and structuring, relationship management, business management and strategy,” according to a statement from the bank. Oni holds an MBA in Finance from the University of Ilorin, a Doctor of Veterinary Medicine (DVM), as well as Master of Science in Public Health and Preventive Medicine from Ahmadu Bello University, Zaria. He

is an honorary member of the Chartered Institute of Bankers of Nigeria (CIBN), a member of the Equipment Leasing Association of Nigeria (ELAN) and the Nigerian Veterinary Medical Association (NVMA). He has also attended trainings in many renowned international institutions, including the prestigious Oxford University and INSEAD, Singapore campus. On the other hand, Odubola joined the board of First Bank in 2014, after being appointed Chief Risk Officer in 2013. He had previously been Head, Credit Analysis and Processing Department in First Bank and Chief Risk Officer at Ecobank Nigeria Plc. Odubola started his banking career with Citibank over 20 years ago and garnered diverse experience covering relationship management, credit underwriting, credit risk management, country risk management and credit audit within and outside of Nigeria. He brought his varied experience to bear in performing his functions in FirstBank. While commenting on the developments, the Managing Director/CEO, First Bank of Nigeria Limited and its Subsidiaries, Dr. Adesola Adeduntan, thanked Odubola for his contributions to the development of FirstBank over the years and wished him the best in his future activities. In welcoming Oni to the Board, Adeduntan said, “Remi’s cognate experience is a perfect fit for our Bank’s expanded corporate banking directorate. I believe he will deliver to our desire to remain at the vanguard of innovation, creativity, enterprise, and service excellence.”

ENL Consortium to Pay off Ex-dockworkers Nosa Alekhuogie The operators of Terminals C and D of the Lagos Port Complex (LPC), Apapa, ENL Consortium, has announced its readiness to pay off dockworkers who have decided to quit their jobs. This was made known in a press statement issued by the company in Lagos on Friday. The Legal Adviser, ENL Consortium, Uzamot Boye, has said that contrary to claims in certain quarters, workers were issued with valid employment letters when they joined the company. He said: “ It must be on record that these set of dockworkers opted to leave the terminals by themselves. Those of them who want to continue working with us, and who are in the majority, are at their job posts as we speak but the few that want to leave are free to do so. We have been meeting

with the union and officials of the Nigerian Maritime Administration and Safety Agency (NIMASA) to work out modalities for their payments, which we are ready to pay in full in consonance with the National Joint Industrial Council (NJIC ) agreement.” The ENL legal adviser, who also accused the aggrieved dockworkers of causing disruptions and breaching the peace at the ports for no justifiable reasons further stated ENL Consortium is a people-focused organisation. “We empower our people and enable them to be the best. Our executive vice chairman/CEO places the welfare of workers above every other consideration. The few dockworkers who want to be paid off should be patient and work with their leaders. They will receive their full retirement benefits in line with negotiated agreements,” he said.

T H I S D AY • MONDAY, APRIL 18, 2016

BUSINESSWORLD

NEWS

Customs Comptroller General Lauds BATN on Revenue Generation Eromosele Abiodun Comptroller General of the Nigerian Customs Service (NCS), Col. Hammed Ibrahim Ali (Rdt), has commended the British American Tobacco Nigeria (BATN) for its contributions to Nigeria’s treasury over the years. He particularly lauded the company’s role in Nigeria’s socio-economic development through its corporate social investment arm, the BATN Foundation, when he paid a working visit to BAT’s Ibadan, Oyo State Factory recently. “BATN is one of the excise companies that generate huge revenue for us and I look forward to greater synergy between us,” he remarked. The CG noted that with

the dwindling revenue from oil, President Muhammadu Buhari has charged the NCS and the Federal Inland Revenue Service (FIRS) with the task of generating revenue for the country. Hence, the visit was to check on all industries that are major sources of revenue for government. Managing Director of BATN, Chris McAllister, while highlighting the company’s landmark achievements in the country, said that the $150 million Memorandum of Understanding (MoU) it signed with the Nigerian government in 2001 has been pivotal in its investment drive. The investment, he said, has more than doubled in the last 13 years, with the establishment of a state-of-

the-art factory in Ibadan, the leaf threshing plant in Zaria and the company’s new West Africa Head office building in Ikoyi, Lagos. He also emphasised ways in which the company has through the BATN Foundation significantly impacted on the socio-economic development of rural communities through the establishment of several agricultural projects spread across the federation. Speaking further, he described BATN as one of the biggest contributors to customs excise as well as the biggest exporter of finished consumer goods. McAllister said the company had been grappling with myriads of challenges, including illicit trade and the influx of flavoured cigarettes

(apple, strawberry and chocolate), which impacts on its contribution to the revenue of the federal government. “Studies put illicit trade in Nigeria and globally at about two out of 10 cigarettes and one out of 10 cigarettes, respectively. The World Health Organisation, recognising the threat posed by illicit trade in tobacco products, called for an end to it at the 2015 World No Tobacco Day marked on May 31. Illicit trade in tobacco products is also reportedly funding criminal gangs and terrorist groups,” he said. While responding to the threats posed by illicit trade, the Customs boss pledged NCS’ commitment to strengthen its enforcement units in order to stem the tide.

L-R: Business Development Manager, Audax Solutions Limited, Mr. Emeka Onyenwe; Head, Branding, Sterling Bank Plc, Mrs. Olapeju Ibekwe; Chairman, Audax Solutions Limited, Mr. Ositadinma Apollos, and Project Coordinator, Audax Code School, Vivian Ubochi, at the Code School Boot Camp for kids in Lagos…recently

Emirates Increases Free Baggage Allowance on All Africa Routes kg each, up from the current 50 kg to 64kg. In addition, infants will be entitled one piece of luggage up to 23kg. The baggage allowance will be applicable for all return Emirates’ flights commencing from Algeria, Angola, Ivory Coast, Egypt, Ethiopia, Ghana, Kenya, Morocco, Mauritius, Nigeria, Senegal, Seychelles, South Africa, Sudan, Tanzania, Tunisia, Uganda, Zambia and Zimbabwe to Emirates network. Irrespective of the point of sale, the piece concept will apply for the entire journey. “At Emirates we always focus on how we can give our customers the best value for money through award winning products and services, both in the air and on the ground. The increased free baggage allowance is another compelling

Stories by Chinedu Eze Medview Airline has said it will expand its operations to more West African destinations, using Accra as operational base. The airline made this known at the weekend in Ghana’s capital when it interacted with travel agents who became elated when the airline offered them five per cent and nine per cent as commission on tickets sold. According to the company, with the delivery of additional airplanes to its fleet, it will extend its service to some West and Central African destinations, including Dakar, Freetown, Monrovia, Abidjan, Conakry and Douala, using Accra as operational base. The airline said this was a bold step it has taken to continue to grow into a big, strong and reliable Nigeria carrier as it has already expanded service to London, Saudi Arabia and soon it would start operation to Dubai. The airline said it has concluded plans to join the league of airlines using the Billing (Bank) Settlement Plan ( BSP) to offer both passengers and travel partners seamless booking and payment system. BSP is an electronic billing system designed to facilitate the flow of data and funds between travel agencies and airlines. The Head of Flight Operations, Captain Godfrey Ogbogu, who represented the Managing Director/CEO of the airline, Alhaji Muneer Bankole, disclosed that barely one year after they commenced operations into Accra, the airline has added another milestone on that route. He said the BSP would go a long way in transforming the system the travel agents and travellers do business with them,

adding that Accra was only a stepping stone towards opening up networks and markets in the West Coast. “We have a sustained operations into London Gatwick and Jeddah, we will be doing more of that soon, the market is gradually expanding; apart from Lagos, Medview regards Accra as its home, we place so much premium in cultivating relationship across economic lines, especially with the travel and trade partners. “We want to cultivate a partnership that is open to exploring more frontiers, that is mutually beneficial, that is the way to grow. The trade partners had been a good support all the way and that is why we will continue to be partners,” he said. In his presentation, Senior Agency Manager, Azeez Abbas, assured the partners and travellers that Medview would live up to its values, vision and mission. He said the airline currently pursuing a fleet expansion programme that would see its fleet increased astronomically from its present seven. “We operate over 40 flights per week, we have over 14 approvals to Accra, we are pursuing a rigorous fleet expansion plan that will take us far, by July this year, we will take delivery of another B737-800 apart from others that will see us expanding our international operations,” he said. “Accra is very important to us. We have concluded plans to operate to Dakar, Monrovia and Freetown via Accra any moment from May. We’ve reinforced our frequencies by up to 30 percent compare to 2015. We have also finalised our IOSA, we will get certified by May 2016,” he said.

New Terminal Boosts Rating of MMIA

PROMOTING EDUCATION

Emirates has increased its free baggage allowance for customers travelling on all its flights originating from destinations across the continent. The airline said starting from April 15, 2016, all Emirates customers travelling in any of the airline’s three cabin classes on outbound African flights would benefit from the increase in free baggage allowance based on the piece concept (individual piece of luggage). Economy Class customers will get a new baggage allowance of two bags weighing up to 23kg each, taking the current weight allowance from 30kg to 46kg, while Business Class increases to two bags of 32kg each, taking the current 40kg to 64kg. First Class customers will get a baggage allowance of two bags weighing up to 32

Medview to Use Accra for Hub Service

reason for travellers to fly with Emirates. It will enable them to carry even more goods, whether for personal or business reasons, on their journeys from Africa to points across our global network and back,” Emirates Senior Vice President, Commercial Operations, Africa, Orhan Abbas said. “With more than 370 flights a week between Dubai and the 22 passenger destinations we serve in Africa, the continent is a very important region for Emirates, and we believe the new allowance will further strengthen trade and tourism connectivity between Africa and our worldwide network, particularly the US, Europe, the Middle East and Asia Pacific,” he added. The new piece concept will not apply to customers who

were issued with tickets before 15 April 2016. Customers on all Emirates flights between its hub Dubai and the 22 destinations in Africa, also enjoy Emirates’ award winning iceentertainment system, which offers hundreds of channels of audio and visual entertainment, while enjoying gourmet cuisine, and the service and hospitality from Emirates’ multi-national cabin crew, including from many countries in Africa. In addition to opening new routes, Emirates continues to enhance its presence in Africa by increasing flight frequencies to existing points, and deploying larger aircraft to cater for the increasing passenger and cargo demand. Emirates also serve five cargo only destinations in Africa.

The Murtala Muhammed International Airport, Lagos has been rated the 5th busiest airport in Africa and one of the upcoming airports in the continent. The airport, which comes after the ORTambo International Airport, Johannesburg, the Cairo International Airport, the Cape Town International Airport and the Mohammed V International Airport, Casablanca, Morocco, is rated as one of the fastest growing in Africa with the new terminal which would go on stream later this year. The International Air Transport Association (IATA) has made a 20-year passenger growth forecast that passenger numbers are expected to reach 7.3 billion by 2034, which represented a 4.1 per cent average annual growth in demand for air connectivity and African airports were rated amongst the fastest-growing markets. It is also projected that with its growth rate, the Murtala Muhammed International Airport and other major airports in the country would benefit from the increased passenger movement with the expansion of the terminal facilities. Also at the just concluded

Airport Council International (ACI) Africa conference in Cairo, Egypt, the Director General of the Airport Council International (ACI) worldwide, Angela Gittens, gave kudos to FAAN for the successful International Civil Aviation Organisation (ICAO) Universal Safety Oversight Audit Programme (USOAP) and urged the agency to guide other countries in Africa to attain similar safety and security standards it archived recently. “We are very proud of how the Federal Airports Authority of Nigeria has improved on safety and security. I will hope that with the kind of success achieved, we would be able to call on them to help other airports,” Gittens said. Spokesman of FAAN, Yakubu Dati said before the end of this year FAAN would be processing over 20 million passengers annually from the Murtala Muhammed International Airport (MMIA), Lagos. The existing 15 million passengers processed annually would be boosted when the new international terminal with the capacity for another 15 million passengers comes on stream late 2016.

T H I S D AY • MONDAY, APRIL 18, 2016

BUSINESSWORLD

PERSPECTIVE

Diversifying in Era of Oil Gloom Okechukwu Emeh Being solely dependent on export of crude oil as a major source of foreign earnings, Nigeria, the much-hyped Africa’s biggest economy, is currently bearing the brunt of a sharp decline in the international prices of the hydrocarbon resource since June of last year. Chiefly among the adverse effects of this worrisome development in the country are the increasingly dwindling revenues of government at all levels and the attendant possible slump in financing of capital projects and social services, sluggish economic growth and the terrible fate of naira whose exchange rate has noticeably depreciated against hard currencies like American dollar and pound sterling. This is not to overlook other effects like dramatic reduction in foreign reserves, layoffs, rising inflation, bankruptcy of many states of the federation and incidence of banks facing bad debts from oil companies that bought oil fields when prices were high and are now struggling to repay their loans. In the light of the petroleum crude prices that have reached an all-time low and the dire consequences, one is compelled to take a critical look at the relevance of oil-dominated economy in Nigeria at the present time. To say the least, this mono-product economy is a mixed blessing to the country. On the one hand, with the exploitation of crude oil in Nigeria, the revenue from this mineral resource, or the black gold, which accounts for about 70 percent of our national income, has contributed substantially towards funding the development of some of our infrastructure and social services, including roads, airports, railways, hospitals and schools. On the other hand, the curse of oil in our political economy is egregious in disheartening situations like thefts and squandering of billions of dollars of oil proceeds, mass poverty and squalor in the midst of plenty, widening inequality between the rich and the poor, continued grievances and militancy in the oil-bearing Niger Delta region over relative deprivation and environmental pollution and relegation of other vital and necessary sectors of the economy like agriculture, solid minerals, industrialisation/ manufacturing, taxation, investment and tourism. Added to this is the sobering reality that too much emphasis on revenues from crude oil sales has made Nigeria to face the precarious future of oil doom owing to several principal factors. These include the unstable nature of the international crude market; possible glut in the market due to new oil finds and exploitation in different parts of the world in the recent years, plus the likelihood of plentiful supply of barrels of oil by Iran this year after just being relieved of economic sanctions by the Western world over her controversial nuclear programme; the downward trend in the demands for oil by China, one of the major consumers of the commodity, following a lull in her industrial output in recent years; evolution of alternative energy sources (including those

President Mohammadu Buhari

of hydro, solar, wind, biomass and geothermal) and efforts to explore and exploit shale oil (oil from rock) and gas by countries like the United States (US), the United Kingdom (UK), Canada, Russia, China, Czech Republic and South Africa. No doubt, such trending developments that have marked a downward trajectory in the prospects of petroleum crude have underpinned the calls in many perspicacious quarters in Nigeria for re-balancing of our economy through a paradigm shift from the predominance of oil as a means of generating foreign exchange to diversification where fresh focus would be given to other promising sectors. Although successive regimes in the country have mouthed such a move as a panacea to our economic doldrums, not many of them have demonstrated political will and commitment to actualise it. Take, as an example, the issue that has become something of a ritual like the cliché of “buy made-in-Nigeria goods”. This has often been rendered atrophy by the craze for foreign goods by many Nigerians, which has made matters worse for our embattled currency because of high demands for dollar by importers of all manner of things that would have rather been produced in the country like tooth pick, beverages, pen, pencil, matches, foot wears, wears, textile materials, tomato paste, fish and poultry. Now the chickens have come home to roost in Nigeria because of the crude oil prices that have continued to tumble, our economic managers should not resort to panic measures that could not help matters like currency devaluation and raising interest rates. After all, the prevailing oil crisis is part of the dismal global economic outlook, as undergirded by elements of negative growth like recession, depression, inflation, stagflation and a drop in the commodity prices. Amid such challenges, it is reassuring that the administration of President Muhammadu Buhari has voiced big commitment to

wean Nigeria’s economy away from total dependence on petroleum crude. On this score, it is expected that the administration would focus attention on other real sectors that would make the country to fulfil her potentials not only as Africa’s largest economy that is ahead of South Africa, her main economic and geopolitical rival, but also as an epitome of inclusive growth and sustainable development. One of such sectors is agriculture, which regrettably, has been eclipsed by the flow of petrodollars into our economy, in addition to obsession of many Nigerians with making quick money through contracts and supplies and merchandise. Nevertheless, the fact remains that the sector holds the key to economic revival in Nigeria, apart from helping in promoting food security, agroallied industries, export trade, job creation and poverty alleviation in the country. Interestingly, we have wide expanse of arable land, especially in the north, where varieties of crops and livestock would be grown on commercial scale. Therefore, there is a compelling need for Nigeria to go back to her glorious years of agrarian revolution, as witnessed in the 1960s when we had the groundnut pyramids and cotton farms in the north and massive plantations like cocoa in the west, oil palm in the east/ present-day Niger Delta region and rubber in the mid-west (old Bendel State). It is notable that huge income from such cash crops had funded and sustained a lot of development projects of the regional governments of the time. Being a goldmine, forward-looking countries with a more diversified economy like the US, the UK, Canada, France, Germany, Japan, China, Australia, Israel, Thailand, Malaysia, South Africa and Rwanda have prioritised commercial agriculture as a veritable means of boosting their export trade. For example, Malaysia, which took palm kernels from eastern part of Nigeria in 1961, is today one of the leading exporters of the

cash crop whose profitability is more than crude oil because of different raw materials from the kernels that are used for producing cooking oil, cosmetics and drugs. Another fine example of agriculture as a money-spinner is post-genocide Rwanda, where the visionary government of Mr Paul Kagame has superintended over massive development of coffee plantations and made exports of the commodity the hub of the country’s amazing economic metamorphosis. Our policy-makers should take a cue from the aforementioned countries by articulating a clear-cut policy for agricultural transformation in Nigeria as a way of propping up our economy. The Buhari administration should get the ball rolling in this regard by unfurling policies in the country that would ease farmland acquisition, ramp up agric funding, establish farm settlements for absorption of teeming unemployed youths and enlist the services of agricultural extension officers to assist farmers gain expertise on new farming methods, including production of genetically modified (GM) foods. The administration is also expected to make available to genuine farmers agricultural input like cheap credit facilities, machinery (including tractors), implements (hoe, cutlass, etc), high-yielding and disease resistant seeds/ seedlings, subsidised chemical fertilisers, insecticide and herbicide. There is equally an overarching need for us to go beyond rain-fed agriculture and government could facilitate this by exploiting our water sector through construction of dams and irrigation systems for year-long farming in Nigeria, as well as rolling back the frontiers of desert encroachment and building national capacity against climate change and the associated global warming. Other measures that would scale up agricultural investment in the country include developing critical rural infrastructure like roads and transport system to enable farmers get their crops to markets, reducing post-harvest losses by constructing storage facilities like silos and grain reserves in food basket areas like north-west and north-central and encouraging food processing for exports, reinstating agricultural marketing boards to help farmers sell their produce on favourable terms, checking farmlands encroachment by herdsmen and the incessant bloody confrontations and imposing restriction on imports of agricultural produce we can locally grow like rice, beans, banana, fish and poultry. Another vital sector that holds most of the aces to remarkable economic turnaround in Nigeria if well-harnessed in this era of oil gloom is that of solid minerals. Thankfully, our polity is awash with various types of extractive materials like iron ore, tin, aluminium, zinc, manganese, bauxite, gypsum, cobalt, coal, bitumen, gold, copper, uranium, kaolin, phosphate, salt, dolomite, tantalite, glass-sand, limestone, the list is endless. Apart from their high revenue value, such materials can provide the springboard for a full-blown industrialisation geared towards

manufacturing of finished products in Nigeria for both internal consumption and exports. Just ponder on billions of dollars the country is woefully losing annually due to lack of keen interest in resuscitating her moribund iron and steel company in Ajaokuta, Kogi State. Unfortunately, this is happening when countries like the US, the UK, Canada, Russia, Japan, China and India are obsessively preoccupied with protecting their heavily subsidised iron/steel sector because of its pivotal role in the multi-billion dollar global construction industry. It is, however, widely expected that the Federal Government would explore our untapped mining industry as one of the most alternative revenue earners in Nigeria that would, in turn, accelerate economic diversification, attract foreign investments, create millions of jobs and contribute to rapid socio-economic development of our mining communities. To this end, the government, apart from revoking dormant exploration and mining licenses, is required to conduct a thorough audit of wide range of solid minerals in the country with a view to ensuring transparency and accountability in their exploitation. The Federal Government, which should enter into a mutually beneficial relationship with state governments and private investors in harnessing our mining riches, is also implored to formalise illegal mining in Nigeria by making artisanal and small scale miners to organise themselves into cooperatives that will contribute to our economy through royalties and taxes. Likely to make Nigeria take a quantum leap in economic growth is our tourism sector, which, lamentably, has been relegated to the background by our successive administrations. Indubitably, the country is blessed with many exotic places of tourist attraction that could fetch us billions of naira yearly if re-packaged. These include Yankari Games Reserve in Bauchi State, Gashaka Gumti National Park in Taraba State, Olumo Rocks in Ogun State, National Arts Theatre in Lagos State, Zuma Rock in the Federal Capital Territory (FCT), Kainji National Park in Niger State, Living Spring in Osun State, Idanre Hills in Ondo State, Obudu Mountain Resort in Cross River State, the temperate and greenery Mambilla Plateau in Taraba State and that of Jos Plateau, Ogbunike Cave in Anambra State, Rivers Benue and Niger confluence in Lokoja, Kogi State and National War Museum in Umuahia, Abia State. Disappointingly, because of the pernicious influence of easy money provided by crude oil exports over the years, along with insecurity in certain parts of Nigeria, some of these exquisite and restorative tourist and recreational centres have been neglected to the extent of becoming a shadow of their former self. This parlous development is unlike what is obtained in fellow African states like Kenya, Tanzania, Seychelles, Mauritius, Botswana, Zimbabwe, Namibia, South Africa, Egypt, Tunisia, Senegal, Cote d’Ivoire, The Gambia, CONTINUED ON NEXT PAGE

T H I S D AY • MONDAY, APRIL 18, 2016

BUSINESSWORLD

PERSPECTIVE

DIVERSIFYING IN ERA OF OIL GLOOM Ghana and Rwanda, which rely partly on their tourism industry for economic survival, as seen in areas like nature reserve, holiday resort and heritage or memorial site. With collapsing crude oil prices, the Nigerian government would have to look inward by revitalising our grossly neglected tourism industry. Apart from bearing dividends in terms of being instrumental in raising our national revenue profile, creating job opportunities and catalysing the growth of sectors like hospitality (including hotels and restaurants) and entertainment (film/movies, music, etc), the industry would also help to cushion our economy against the vagaries of the international petroleum crude market. As part of the impelling necessity to diversify our economy away from oil, the present administration in Nigeria should recognise the value of intellectual creativity, technological innovation and talents, which have played a key role in driving economic transformation in many progressive parts of the world, especially Europe, North America and East Asia. This is exemplified in the inchoate knowledge-driven economy, as deeply embedded in different fields of human endeavour like science and technology (including the brave new world of information and communications technology or ICT, nanotechnology and biotechnology) and entrepreneurship. There is no doubt that discoveries from such arcane fields would bring immense economic benefits to Nigeria through patent rights that could run into billions of dollars, in addition to linking the country to global markets through exports of finished goods and services. In view of the foregoing, we have no choice than to embrace intellectual creativity, technology innovation and talents as a realistic means of leapfrogging our economy. And such areas could be enhanced by promotion of research and development (R & D) and human capacity building. As part of a deliberate measure to promote brain gain in Nigeria – as opposed to brain drain – the Federal Government should create a climate that would make our highly skilled and qualified professionals in fields like teaching, medicine and engineering not to leave the country in search for greener pastures. This would require providing, among other things, appropriate incentives (including fabulous salaries and allowances), job security, functional public infrastructure and social services and protection of lives and properties. Promotion of private sector investment is also central to rapid economic recovery in Nigeria. In this regard, it is notable that in most parts of Europe, North America and East Asia where market economy has reached an advanced stage, the sector is the main driver of their economy that creates wealth, jobs and other opportunities. This is in stark contrast with many countries in sub-Saharan Africa like Nigeria, where undue emphasis is placed on their public sector, which is often beset by corruption, mismanagement and bureaucratic inefficiency. In any case, it is hoped that the Federal Government would

Minister of State for Petroleum, Dr. Kachikwu Ibe

provide the enabling environment for the thriving of our private sector – both formal and non-formal. This would demand formulating necessary incentives like tax holiday and cheap loans for new businesses with good prospects, providing basic amenities like uninterrupted power supply and access roads, exposing youths to entrepreneurship training in order to address the problem of unemployment facing them and maintaining security. Apart from such measures impelling our population to be economically active, they would also encourage emerging middle class entrepreneurs and professionals in Nigeria who are struggling to make the country generate and sustain her own wealth by transforming private investment in goods and services into social wealth through creation of jobs and other socio-economic opportunities, in tune with what the business mogul, Mr Tony Elumelu, has termed Africapitalism. At the same time, the government, for profit purposes, should consider privatising or commercialising public enterprises that are not lucrative, especially some of them in sectors like oil and gas, maritime, transport and electricity generation. This is not to glide over the imperative of the Federal Government to encourage active Public-Private Partnership (PPP) in providing or managing basic infrastructure like roads, bridges, ports, airports and railways, as done in most advanced economies. Considering the prevailing uneconomic nature of crude oil prices, the administration of President Buhari should take a decisive step to attract foreign directive investments (FDIs) into Nigeria. This is for several tenable reasons. One, FDIs would generate capital, superior technology, managerial knowledge and world class best business practices acutely needed for our developing economy. Two, with regard to labour-intensive manufacturing with simple technology, foreign investments would play the role of a “tutor”, teaching technology, managerial skills

and marketing to entrepreneurs, along with encouraging the growth of local skilled managers and labourers by making them set up their own business. Three, FDIs are a prerequisite for Nigeria to establish new industries that produce at low cost. And four, foreign investments would provide a sound basis for technology transfer and co-prosperity between such investors and our host country. Arising from the above, the Federal Government should create a congenial atmosphere for inflow of FDIs into Nigeria. This would necessitate removing encumbrances to foreign investments in the country like tariff barriers, discriminatory practices and legal and regulatory uncertainties in order to ensure strong investments protection and effective dispute settlement procedures. Setting high standards for liberalisation of investment regimes in Nigeria would also require addressing the problems of bribery, corruption, multiple taxation, poor infrastructure (especially erratic power supply and decrepit roads), frequent fuel scarcity, political uncertainty and national insecurity. Adding to the diversification facets that would make our economy to have huge potential for catch-up growth in these times of oil gloom is effective and accountable taxation. That Nigeria has suffered much revenue haemorrhage from tax offences like evasion and avoidance is not in disputation. This is not to mention billions of naira the country is gratuitously losing as revenues annually through leakages (corruption and wastes) in critical sectors like oil and gas, maritime, mining and customs and excise. Even recurring offences in Nigeria like violation of public rules and regulations (including disregarding traffic light, environmental abuses and breaching safety standards), which should have been an avenue to generate revenues for government through financial penalties or fines, are either overlooked or treated with levity by relevant agencies. It is a well-known fact that

countries with few natural resources like the UK, Switzerland and Israel depend partly on taxation and fines for their economic sustenance. It is, however, commendable that the Buhari regime has expressed commitment to reform tax administration in Nigeria with an eye to meeting economic and social needs of the populace. Expectedly, this would not only require broadening the tax base in the country in order to reduce our dependence on crude oil receipts, but also making Nigerians to reap the benefits of part of their hard-earned cash paid as tax through availability of functional public amenities and social services. Tax reform is also imperative in Nigeria in order to ensure that proceeds from taxation are not leaked into the offshore accounts of public office-holders. Also praiseworthy is the implementation of the Treasury Single Account (TSA) by the present administration, which, unarguably, has ensured that all revenues generated by ministries, departments and agencies (MDAs) of the Federal Government are remitted into the federation account. So far, it is reported that about N3 trillion has been realised as savings by the government since the introduction of the innovative TSA policy last year – a gigantic sum a sizeable quarter of it would have disappeared into private pockets in the past. It is, however, advisable that a substantial part of the savings be pumped into kick-starting our economy, with significant emphasis placed on investing in public sector projects aimed at improving infrastructure and social services, creating jobs and eradicating abject poverty. Holding out much hope for economic rebound in Nigeria in the midst of lower crude oil prices is broader and deeper transformation in our industrial/ manufacturing sector. Admittedly, the major reason the naira has experienced a headlong plunge today, apart from the oil shock, is our failure to put premium on export of finished products, which has extremely deprived us of the much-needed foreign exchange. Again, one of the underlying causes of underdevelopment in Nigeria is our inability to utilise our abundant raw materials to create or sustain wealth through processing into finished goods for both internal and external markets, rather than sending wealth abroad through export of such materials. Factors militating against the industrial/manufacturing sector in the country include lack of workable blueprint in the sector, difficulties in company registration, deficiency in requisite incentives for small and medium enterprises (SMEs), obstacles in accessing factors of production like land and capital, bribery and corruption, multiple taxation, epileptic power supply, frequent fuel scarcity, penchant for foreign products by many Nigerians and insecurity. It is certain that reversing such debilitating factors facing the industrial/manufacturing sector in Nigeria will help, in no small measure, in invigorating the sector. In particular, addressing the vexed issues of erratic power supply and intermittent fuel

scarcity would act as a stimulus to many economic activities in the country like industrialisation, artisanship, e-commerce, software development, fashion, entertainment and home-grown film industry (Nollywood) that has become the world secondlargest by output. In fact, if our industrial/manufacturing sector is turned around, it would enable us to make a significant headway into the highly lucrative export trade. With such trade, Nigeria would not only reposition herself to be among the 20 most industrialised countries in the world by 2020, but would also ease her way out of dwindling oil revenues. This is coupled with escaping economic underdevelopment, mass impoverishment and chronic unemployment and their corresponding wave of crime, violence and insecurity. Considering also that Nigerians are the major consumers of foreign products like automobile, electronics, electrical appliances, building materials, foot-wears, clothes, stationeries, cosmetics, pharmaceuticals, beverages and cooking utensils, the present administration should, as a matter of urgency, encourage overseas companies producing such products to establish their assembly plants in Nigeria, just as done in the country by companies like Peugeot, Volkswagen, Mercedes and Steyr in the 1970s and 80s. In the long run, this measure would help create jobs and promote technology transfer, thereby stimulating our economy. That is why one cannot but laud the Federal Government for trying to encourage automobile making in Nigeria by levying import tariff of about 70 per cent on imported cars. Having made a peregrination across various diversification options that would make Nigeria to reset her economy for inclusive and sustainable growth and global competitiveness in this era of oil gloom, it behoves the administration of President Buhari to take other measures necessary for building a capable state in the country. These include accountable governance, law and order, far-reaching structural and institutional reforms (especially total reform of the oil industry and streamlining and rationalising duplicating MDAs for accountability, efficiency and cost-saving) and unflinching campaign against well-entrenched vested interests, pervasive corruption, mismanagement and impunity. By adopting such measures, it is rest assured that Nigeria would overcome her present difficult economic challenges. In the opinion of this writer, the prevailing global oil crisis is a blessing in disguise for our country. For one, it would make us to break with the past and be desirous of embracing the future with open hands and sense of realism. In other words, we should now think more of the idea of Nigeria beyond oil by branching out or diversifying to other viable sectors, not monolithic economic structure driven by export of petroleum crude whose prices have taken a nosedive and, therefore, unreliable as a means of earning the much-needed foreign exchange. Emeh, a social researcher, sent this piece from Abuja 08036895746

T H I S D AY • MONDAY, APRIL 18, 2016

BUSINESS/MONEYGUIDE

World Bank, Partners to Provide Identification for Africans Nume Ekeghe African leaders and development partners have agreed on a common approach for accelerating the provision of unique identification for millions of people in Africa as a means to foster more inclusive economies and greater regional integration. At a high-level meeting during the World Bank-IMF Spring Meetings, representatives from the African Union, the Economic Community of West African States, the East African Community, African Ministers of Finance, development partners and the World Bank Group committed to join efforts in providing identification to millions of people across Africa through a more integrated and regional approach. “Identification provides a foundation for other rights and gives a voice to the voiceless,” said World Bank Vice President for Africa, Makhtar Diop. “It is indispensable for

ensuring access to education, financial services, and health and social benefits.” The World Bank will work with countries in collaboration with regional bodies like the African Union to develop a set of harmonised standards to support interoperability between national identification systems and mutual recognition of identification documents. “People have a right to legal identity and recognition which are essential prerequisites for decent work, livelihoods and well-being,” said African Union Commission Deputy Chairperson, Erastus Mwencha. “Those issues are at the core of Agenda 2063 and the Sustainable Development Goals, and require access to technology, resources, as well as advocacy and capacity.” The meeting heard that identification – whether through civil registries or other national identification systems – can foster inclusion and access

to essential services such as health care and education, financial services, and safety net programs. It can enable a more efficient administration of public services, transparent decisions and improved governance. Identification also allows for more accurate measurement of development progress in areas such as reduction of maternal and infant mortality and ending epidemics. Globally, an estimated 1.5 billion people are unable to prove their official identity. This includes almost 170 million children under the age of five years. Sub-Saharan Africa has the highest percentage of its population (around 37 per cent) without a form of legal identification, as well as the highest rate of unregistered births (43 per cent of 0-4 age group). In 2014 the World Bank Group launched the Identification for Development (ID4D) initiative to support progress towards identification systems using the latest technological solutions.

Stanbic IBTC Commits to SME Devt Citing capital as the single most important factor necessary for the sustainable growth of small and medium scale enterprises (SMEs), the Head, SME Banking, Stanbic IBTC Bank, Mr. Obinna Ukachukwu, has assured that the bank is committed to supporting SMEs through various capacity building. He gave this clarification at the 2016 Global Possibilities Summit of Inspired Woman of Worth (iWOW) network which took place in Lagos, recently. Ukachukwu, who was a guest speaker and panelist at the summit, spoke on “How to Find, Create, Manage, Grow and Keep Real Money for your Business.” He said without capital it would be difficult for any business to attract finance or

investment. Ukachukwu defined capital as the value of and the history behind a business. According to him, if a promoter of a business does not know the value of the business, it is very unlikely that any investor or financier will be comfortable committing their money because the equity or debt investor is bringing in money in exchange for value. “If you don’t know the value of your business then you do not expect a debt investor to put in his money,” Ukachukwu said. He, however, assured that Stanbic IBTC Bank would continue to work with operators in the SME sector, particularly through capacity building and information sharing, to ensure they build capital. He explained that the value of a

business can be determined if the proper structures, such as proper book keeping, annual reports, tax returns, auditor’s report, and record of banking transactions, which form the history of the business, have been put in place. He therefore, encouraged business owners and entrepreneurs to engage the services of professionals to ensure the right structures are in place. “When you have generated capital, you have determined your business’ worth, you then need someone to attest to that in form of documentations, whether it is your banker, your auditor or your tax man. Having these in place will make it easier for you to attract debt or equity financing,” Ukachukwu stated.

Skye Bank Partners DFID to Upgrade Schools Skye Bank Plc has partnered the United Kingdom’s international development agency, the DFID, a non-governmental organisation, ICLED, on an intervention programme to upgrade private schools in low income areas in Lagos. The programme is aimed at offering a holistic approach to problems faced by low income private schools which include, capital, leadership skills, teacherclassroom strategies, team work, soft skills, among others. Under the programme,

private schools in low income areas in the state will be assisted to upgrade their facilities, including classrooms to make them suitable for teaching and learning. A statement by Skye Bank described the programme as a welcome development in view of the fact that some private schools lacked the basic facilities and capital to put in place necessary infrastructure which are promote scholarship. The statement said such schools are located in Ajegunle, Makoko, Amukoko and other

areas in the state where the poor reside. Speaking at the first interactive and training session with the proprietors of the private schools in Lagos, Head, SMEs, Skye Bank Plc, Mrs Ayodele Olojede, stressed the importance of financial planning, good book keeping in the success of any business endeavour. Olojede said observing the basic rules of proper book keeping would help the proprietors know how to manage their cash flow, cut off waste and spend their money judiciously.

Sterling Bank Gets Risk Mgt Award Sterling Bank Plc has disclosed that it was recently conferred with the award for the ‘Best Bank in Nigeria’ in the Banking and Investment Services category of the Nigeria Risk Award (NRA) for 2015. The award was presented to the bank at the Nigerian Economic and Social Risks Summit in Lagos. This award came barely one month after the bank emerged

tops among Nigerian banks in the Lafferty Bank Quality Ratings, according to a statement. The bank said it beat other banks, insurance companies and other players in the financial services sector that submitted entries to win the award. The Bank’s Executive Director, Finance and Strategy, Mr. Suleiman Abubakar, assured its stakeholders that the bank would continue to

put the necessary structures in place to ensure adequate risk management. He added: “Sterling Bank is committed to best practice in risk management. This informs why we have continued to fortify our Risk Management team and provide adequate training programmes to ensure that they are up-to-date in current risk management practices worldwide.”

World Bank President, Jim Kim

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

-- Net Domestic Credit (NDC)

22,414,322.75

---- 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

120.47

Stanbic IBTC Ethical

1.10

1.13

Stanbic IBTC GIF

142.90

143.38

UBA Balanced Fund

1.2563

1.2493

UBA Bond Fund

1.3443

UBA Equity Fund

0.8205

0.8074

UBA Money Market Fund

1.1510

ARM Aggressive Growth Fund

N13.1141

N13.5095

ARM Discovery Fund

N288.9978

N297.7112

ARM Ethical Fund

N22.6462

N23.3290

ARM Money Market Fund

13.1161 (Yield % ) • Monetary Policy Rate - 13%

OPEC DAILY BASKET PRICE AS AT 14 APRIL 2016 The price of OPEC basket of thirteen crudes stood at $38.58 a barrel on Thursday, compared with $38.91 the previous day, according to OPEC Secretariat calculations. The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Murban (UAE), Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), 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) and Merey (Venezuela). SOURCE: OPEC headquarters, Vienna

T H I S D AY • MONDAY, APRIL 18, 2016

MARKET NEWS

Afriland Properties Grows Income by 44%, Posts N1.7bn Profit Goddy Egene and Eromosele Abiodun Afriland Properties Plc has recorded an operating income of N2.3 billion for the year ended December 31, 2015, representing 44 per cent increase compared to . what was achieved in 2014. The company achieved a profit before tax (PBT) of N1.72 billion for the financial year ended December 31,

2015, compared to N1.74 billion in 2014. Profit after tax (PAT) was N1.15 billion, which is 24 per cent below the N1.51 billion for the year ended 31 December, 2014. Total assets increased to N15.3 billion from N8.2 billion during the period under review, representing 87 percent increase. Based on the results, the Board of Directors and declared a total dividend payment of

N499.6 million translating to 40 kobo per share. Addressing shareholders at the annual general meeting (AGM)I the Chairman of Afriland Properties, Erelu Angela Adebayo said: “The 44 percent increase in our operating income is attributable to the increased level of activities in project directorate and project management, increased rental

income and re-valuation gains on investment properties. We will continue to strike a good balance between our obligations of rewarding shareholders and the need to retain earnings to finance future reinvestments in the company’s operations.” In her remark, the Managing Director/Chief Executive Officer, Afriland properties Plc, Mrs. Uzo Oshogwe stated that “De-

spite the economic headwinds during the financial year under W review, we successfully kept the Company on a strong, stable trajectory and delivered a solid performance. The results in the fiscal year 2015 were possible due to “Effectiveness and Efficiency in the way we work and our ability to deliver excellent and innovative real estate solutions to our client.

DAILY STOCK MARKET REPORT T H E

Prices for Securities Traded as of 15/04/2016

Printed 15/04/2016 14:32:58.058

PRICES FOR PREMIUM BOARD SECURITIES

N I G E R I A N

STO C K

The reduction in profit over prior year resulted from the diminution in the value of the Company’s share investment and the increase in the level of tax provision.” Afriland Properties Plc is a property development and management company, offering end-to-end services along the real estate value chain, from management to joint-venture investments.

E XC H A N G E

Price List (Equities)

FINANCIAL SERVICES S/N 1

BANKING ZENITH INTERNATIONAL BANK PLC

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

S/N

BUILDING MATERIALS

359,489.85

11.45

2.23

239

16,895,688

124

ASHAKA CEM PLC

239

16,895,688

125

BERGER PAINTS PLC

BANKING S/N

OTHER FINANCIAL INSTITUTIONS

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

126

CAP PLC

119,531.32

3.33

-1.19

193

7,582,714

127

CEMENT CO. OF NORTH.NIG. PLC

OTHER FINANCIAL INSTITUTIONS

193

7,582,714

131

LAFARGE AFRICA PLC.

FINANCIAL SERVICES

432

24,478,402

133

PORTLAND PAINTS & PRODUCTS NIGERIA PLC

TRADES

VOLUME

FBN HOLDINGS PLC

BUILDING MATERIALS DANGOTE CEMENT PLC

MARKET CAP(Nm)

PRICE

%CHANGE

2,743,010.48

160.97

0.45

2,395,919

BUILDING MATERIALS

2,395,919

INDUSTRIAL GOODS

2,395,919

511

26,874,321

PREMIUM BOARD TOTALS PRICES FOR MAIN BOARD SECURITIES

Price List (Equities)

CROP PRODUCTION

PACKAGING/CONTAINERS GREIF NIGERIA PLC

S/N MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

TOOLS AND MACHINERY

21,417

329,917

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

S/N

METALS

143

ALUMINIUM EXTRUSION IND. PLC.

CROP PRODUCTION FISHING/HUNTING/TRAPPING MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

1,920.00

0.96

4.35

1,133,666

S/N

CHEMICALS

S/N

MINING SERVICES

1,133,666 1,463,583

MINING SERVICES

TRADES

VOLUME

PAPER/FOREST PRODUCTS

S/N

CONGLOMERATES MARKET CAP(Nm) 2,011.94

PRICE

%CHANGE

0.76

-5.00

57,993

TRANSNATIONAL CORPORATION OF NIGERIA PLC

40,657.05

1.00

-0.99

6,027,000

U A C N PLC.

37,264.77

19.40

5.26

1,074,491

DIVERSIFIED INDUSTRIES

109

7,159,484

CONGLOMERATES

109

7,159,484

CONSTRUCTION/REAL ESTATE MARKET CAP(Nm)

PRICE

%CHANGE

TRADES 0

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

542.19

0.50

1,807.50

14.46

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

56,760.00

43.00

2,125

BUILDING CONSTRUCTION

G CAPPA PLC

BUILDING STRUCTURE/COMPLETION/OTHER S/N 18

INFRASTRUCTURE/HEAVY CONSTRUCTION JULIUS BERGER NIG. PLC.

INFRASTRUCTURE/HEAVY CONSTRUCTION S/N 20

REAL ESTATE DEVELOPMENT UACN PROPERTY DEVELOPMENT CO. LIMITED

REAL ESTATE INVESTMENT TRUSTS (REITS) UPDC REAL ESTATE INVESTMENT TRUST

VOLUME

2,125

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

6,875.00

4.00

0.25

289,606

TRADES

VOLUME

REAL ESTATE DEVELOPMENT S/N

MARKET CAP(Nm)

PRICE

%CHANGE

26,682.70

10.00

REAL ESTATE INVESTMENT TRUSTS (REITS) CONSTRUCTION/REAL ESTATE AUTOMOBILES/AUTO PARTS

MARKET CAP(Nm)

PRICE

%CHANGE

AUTOMOBILES/AUTO PARTS S/N

BEVERAGES--BREWERS/DISTILLERS

CHAMPION BREW. PLC.

GUINNESS NIG PLC

INTERNATIONAL BREWERIES PLC.

NIGERIAN BREW. PLC.

MARKET CAP(Nm)

S/N 32

BEVERAGES--NON-ALCOHOLIC 7-UP BOTTLING COMP. PLC.

291,766

TRADES

VOLUME

TRADES

VOLUME

3.10

2,675

99.90

35,689

20.00

106.00

-1.37

250

714,427

106

753,041

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

94,166.78

147.00

1,133

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

DANGOTE SUGAR REFINERY PLC

63,000.00

5.25

-0.19

804,689

FLOUR MILLS NIG. PLC.

50,805.23

19.36

-3.20

432,893

HONEYWELL FLOUR MILL PLC

10,785.07

1.36

-2.16

554,500

NASCON ALLIED INDUSTRIES PLC

19,605.84

7.40

-0.13

8,600,429

TIGER BRANDED CONSUMER GOODS PLC

11,500.00

2.30

-3.77

890,770

UNION DICON SALT PLC.

3,075.06

11.25

17,649

152

11,300,930

TRADES

VOLUME

FOOD PRODUCTS S/N

FOOD PRODUCTS--DIVERSIFIED

CADBURY NIGERIA PLC.

NESTLE NIGERIA PLC.

MARKET CAP(Nm)

PRICE

%CHANGE

27,741.04

14.77

8,190

507,307.93

640.01

-0.77

110

180,523

FOOD PRODUCTS--DIVERSIFIED S/N 46

HOUSEHOLD DURABLES VITAFOAM NIG PLC.

118

188,713

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

5,326.78

5.42

5,112

HOUSEHOLD DURABLES S/N

PERSONAL/HOUSEHOLD PRODUCTS

P Z CUSSONS NIGERIA PLC.

UNILEVER NIGERIA PLC.

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

84,253.52

21.22

-9.70

210,110

110,661.42

29.25

38,343

248,453

433

12,497,382

PERSONAL/HOUSEHOLD PRODUCTS CONSUMER GOODS FINANCIAL SERVICES S/N

BANKING

ACCESS BANK PLC.

DIAMOND BANK PLC

ECOBANK TRANSNATIONAL INCORPORATED

FIDELITY BANK PLC

GUARANTY TRUST BANK PLC.

SKYE BANK PLC

STERLING BANK PLC.

UNION BANK NIG.PLC.

UNITED BANK FOR AFRICA PLC

UNITY BANK PLC

WEMA BANK PLC.

6,691.37

0.50

936,800

38,907,829

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

2,652.50

1.16

-0.86

660,200

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

4,179.69

4.28

625

625 VOLUME

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

1.24

AFRICA PRUDENTIAL REGISTRARS PLC

4,880.00

2.44

CUSTODIAN AND ALLIED PLC

22,939.27

3.90

32,830

FCMB GROUP PLC.

18,218.49

0.92

2.22

1,765,203

136,500.00

13.65

5.00

1,582,023

9,000.00

1.50

-0.67

OTHER FINANCIAL INSTITUTIONS FINANCIAL SERVICES

929,585

4,090,026

169

8,399,667

1,038

382,897,528

TRADES

VOLUME

0 VOLUME

HEALTHCARE MARKET CAP(Nm)

PRICE

%CHANGE

HEALTHCARE PROVIDERS MARKET CAP(Nm)

PRICE

%CHANGE

TRADES 0

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

3,150.00

2.10

5.00

457,859

29,861.04

24.97

15,461

882.00

0.90

-2.17

117,886

1,035.90

0.66

444.48

2.05

MEDICAL SUPPLIES

603,868

HEALTHCARE

603,868

TRADES

VOLUME

TRADES

VOLUME

0 VOLUME

ICT MARKET CAP(Nm)

PRICE

%CHANGE

COMPUTER BASED SYSTEMS MARKET CAP(Nm)

PRICE

%CHANGE

COMPUTERS AND PERIPHERALS MARKET CAP(Nm)

PRICE

%CHANGE

TRADES 0

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

1,130.76

10.47

100

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

2,348.03

0.50

17,136.00

4.08

-4.90

ELECTRONIC COMMUNICATIONS SERVICES

IT SERVICES

PROCESSING SYSTEMS S/N

TELECOMMUNICATIONS SERVICES

ICT INDUSTRIAL GOODS

-0.62

34,130

124

1,762,522

PRICE

%CHANGE

TRADES

VOLUME

187,148.11

332.15

7.04

MARKET CAP(Nm)

PRICE

%CHANGE

100

187,200

187,300

TRADES

VOLUME

187,400

38,568

235

3,465,979 VOLUME

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES 0

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

2,240.09

3.80

10,500

196.83

0.99

MARKET CAP(Nm)

PRICE

%CHANGE

3,000

13,500

TRADES

VOLUME 0

CAPITAL HOTEL PLC

5,993.78

3.87

164

IKEJA HOTEL PLC

4,427.84

2.13

165

TOURIST COMPANY OF NIGERIA PLC.

7,885.00

3.51

166

TRANSCORP HOTELS PLC

34,885.85

4.59

163

HOTELS/LODGING S/N

MEDIA/ENTERTAINMENT

167

DAAR COMMUNICATIONS PLC

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

6,000.00

0.50

MEDIA/ENTERTAINMENT

S/N

PRINTING/PUBLISHING

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

168

ACADEMY PRESS PLC.

405.22

0.67

14,541

169

LEARN AFRICA PLC

555.44

0.72

4.35

55,400

170

STUDIO PRESS (NIG) PLC.

1,302.80

2.19

171

UNIVERSITY PRESS PLC.

2,459.03

5.70

25,900

95,841 VOLUME

PRINTING/PUBLISHING S/N

ROAD TRANSPORTATION

172

ASSOCIATED BUS COMPANY PLC

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

828.85

0.50

ROAD TRANSPORTATION S/N

SPECIALTY

174

SECURE ELECTRONIC TECHNOLOGY PLC

MARKET CAP(Nm)

PRICE

%CHANGE

176

NIGERIAN AVIATION HANDLING COMPANY PLC

TRADES

VOLUME

0.50

1 1

200

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

1,268.00

2.00

25,000

200

6,480.63

3.99

2.57

24 28

656,671

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

941.41

0.50

70,000

5,528.34

1.65

SUPPORT AND LOGISTICS SERVICES MAIN BOARD TOTALS PRICES FOR ASEM SECURITIES

0 2,815.77

TRANSPORT-RELATED SERVICES

631,671

12,121

82,121

848,333

2,133

410,766,874

Price List (Equities)

CONSTRUCTION/REAL ESTATE TRADES

VOLUME

PROPERTY MANAGEMENT

CONSTRUCTION/REAL ESTATE

TRADES

VOLUME

S/N

PROPERTY MANAGEMENT

MARKET CAP(Nm)

PRICE

%CHANGE

CONSUMER GOODS S/N

FOOD PRODUCTS

180

MCNICHOLS PLC

MARKET CAP(Nm)

PRICE

%CHANGE

380.16

1.28

2 2

6,000

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

FOOD PRODUCTS S/N

PERSONAL/HOUSEHOLD PRODUCTS

6,000

PERSONAL/HOUSEHOLD PRODUCTS

CONSUMER GOODS

6,000

TRADES

VOLUME

FINANCIAL SERVICES S/N

MORTGAGE CARRIERS, BROKERS AND SERVICES

MARKET CAP(Nm)

PRICE

%CHANGE

MORTGAGE CARRIERS, BROKERS AND SERVICES

FINANCIAL SERVICES

HEALTHCARE TRADES

VOLUME

PHARMACEUTICALS

HEALTHCARE

TRADES

VOLUME

S/N

PHARMACEUTICALS

MARKET CAP(Nm)

PRICE

%CHANGE

INDUSTRIAL GOODS S/N

ELECTRONIC AND ELECTRICAL PRODUCTS

184

ADSWITCH PLC.

MARKET CAP(Nm)

PRICE

%CHANGE

203.76

1.63

ELECTRONIC AND ELECTRICAL PRODUCTS

INDUSTRIAL GOODS

OIL AND GAS S/N

186

PETROLEUM AND PETROLEUM PRODUCTS DISTRIBUTORS CAPITAL OIL PLC

MARKET CAP(Nm)

2,928.77

PRICE

0.50

TRADES

%CHANGE

VOLUME

200,000

PETROLEUM AND PETROLEUM PRODUCTS DISTRIBUTORS

200,000

OIL AND GAS

200,000

TRADES

VOLUME

SERVICES S/N

FOOD/DRUG RETAILERS AND WHOLESALERS

MARKET CAP(Nm)

PRICE

%CHANGE

FOOD/DRUG RETAILERS AND WHOLESALERS

SERVICES

ASEM TOTALS

206,000

2,647

437,847,195

VOLUME

EQUITIES TOTALS

12,652

PHARMACEUTICALS

TELECOMMUNICATIONS SERVICES

159.00

VOLUME

1,017,586

E-TRANZACT INTERNATIONAL PLC

53,983.97 MARKET CAP(Nm)

2.94

MORTGAGE CARRIERS, BROKERS AND SERVICES

121

VOLUME

-1.41

MICRO-FINANCE BANKS

PROCESSING SYSTEMS

TRADES

0.70

WAPIC INSURANCE PLC

CHAMS PLC

1,664,889

0.70

S/N

1,664,889

101

%CHANGE

8,182.54

INSURANCE CARRIERS, BROKERS AND SERVICES

120

VOLUME

101

0.50

27,002.13

200

NCR (NIGERIA) PLC.

TRADES

-0.87

PRICE

HOTELS/LODGING

250,469,876

29,040

118

%CHANGE

4.56

1,605.81

TANTALIZERS PLC

S/N

111

IT SERVICES

PRICE

54,877.86

MARKET CAP(Nm)

162

-0.31

ELECTRONIC COMMUNICATIONS SERVICES

MARKET CAP(Nm)

HOSPITALITY

3.24

S/N

HOSPITALITY

117,545.67

S/N

884,541

0.50

COMPUTERS AND PERIPHERALS

VOLUME

COURIER/FREIGHT/DELIVERY

0.50

S/N

TRANS-NATIONWIDE EXPRESS PLC.

4.61

6,933.33

COMPUTER BASED SYSTEMS

RED STAR EXPRESS PLC

4.77

3,869.74

S/N

COURIER/FREIGHT/DELIVERY

161

80,783.80

UNITY KAPITAL ASSURANCE PLC

PHARMA-DEKO PLC.

S/N 160

CAVERTON OFFSHORE SUPPORT GRP PLC

NIGER INSURANCE CO. PLC.

NEIMETH INTERNATIONAL PHARMACEUTICALS PLC

AUTOMOBILE/AUTO PART RETAILERS

178

113

S/N

4,641,053

111

29,800

TRADES

AUTOMOBILE/AUTO PART RETAILERS

3,170,429

5,000,000

MAY & BAKER NIGERIA PLC.

2 %CHANGE

APPAREL RETAILERS

26,753,457

110

ADVERTISING APPAREL RETAILERS

GLAXO SMITHKLINE CONSUMER NIG. PLC.

S/N S/N

4.70

29,700

SERVICES

2.11

1.32

VOLUME

PRICE

ADVERTISING

0.97

-4.69

109

SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD

1.56

0.77

PHARMACEUTICALS

156

13,463.89

0.61

FIDSON HEALTHCARE PLC

EXPLORATION AND PRODUCTION

44,913.05

4,065.99

S/N

TOTAL NIGERIA PLC.

S/N

C & I LEASING PLC.

2,096.77

108

155

SUPPORT AND LOGISTICS

N.E.M INSURANCE CO (NIG) PLC.

TRADES

MARKET CAP(Nm)

PETROLEUM AND PETROLEUM PRODUCTS DISTRIBUTORS

S/N

LAW UNION AND ROCK INS. PLC.

MEDICAL SUPPLIES

%CHANGE

669,509

177

200

S/N

PRICE

390,057

308,021

3,941,000

HEALTHCARE PROVIDERS

MARKET CAP(Nm)

42,755,841

S/N

VOLUME

-4.98

22,055,984

UNITED CAPITAL PLC

TRADES

44.83

103

%CHANGE

11,386.31

196

1.00

STANBIC IBTC HOLDINGS PLC

100

PRICE

MRS OIL NIGERIA PLC.

154

131

0.50

102

1 MARKET CAP(Nm)

201,019

1.01

OTHER FINANCIAL INSTITUTIONS

100

1.12

642.04

S/N

1.37

2.19

10,476.47

UNION HOMES SAVINGS AND LOANS PLC.

151.25

1.40

200

MORTGAGE CARRIERS, BROKERS AND SERVICES

9.84

54,540.03

15.37

0 VOLUME

2,164.37

MOBIL OIL NIG PLC.

153

13.87

S/N

0 TRADES

124,212

40,564.72

0.50

NPF MICROFINANCE BANK PLC

TRADES

%CHANGE

343,595

452,357.22

3,000.00

%CHANGE

PRICE

254,508.28

7,904

VOLUME

PRICE

MARKET CAP(Nm)

-5.00

AIRLINE SERVICES AND LOGISTICS PLC

MARKET CAP(Nm)

1,321,751

278.57

FORTE OIL PLC.

TRANSPORT-RELATED SERVICES

2,031,566

168

362,832.16

152

S/N

334,929,207

175

180 VOLUME

MARKET CAP(Nm)

SPECIALTY

180

TRADES

VOLUME

MICRO-FINANCE BANKS

%CHANGE

4.52

4,516,504

2,239,028

S/N

PRICE

-9.70

3,077,806

%CHANGE

TRADES

1.62

TRADES

INTERNATIONAL ENERGY INSURANCE COMPANY PLC

%CHANGE

9.23

18.15

TRADES

CONTINENTAL REINSURANCE PLC

PRICE

393.57

PRICE

4.84

753

VOLUME

MARKET CAP(Nm)

0 245,020 245,020

2,112.71

ETERNA PLC.

-2.64

2.86

S/N

%CHANGE

0 12 12

12,595.23

PETROLEUM AND PETROLEUM PRODUCTS DISTRIBUTORS CONOIL PLC

151

1.30

2.04

CONSOLIDATED HALLMARK INSURANCE PLC

VOLUME

MARKET CAP(Nm)

150

3.69

0.72

OANDO PLC

PRICE

AXAMANSARD INSURANCE PLC

INTEGRATED OIL AND GAS SERVICES

30,108.51

4,989.75

AIICO INSURANCE PLC.

S/N 148

106,744.22

21,420.00

INSURANCE CARRIERS, BROKERS AND SERVICES

TRADES

INTEGRATED OIL AND GAS SERVICES

MARKET CAP(Nm)

BANKING S/N

%CHANGE

ENERGY EQUIPMENT AND SERVICES

OIL AND GAS

24,271.44 65,884.99

ENERGY EQUIPMENT AND SERVICES

EXPLORATION AND PRODUCTION

150,438.23 840,484.69

S/N

FOOD PRODUCTS

1,076,551

PRICE

OIL AND GAS

%CHANGE

BEVERAGES--NON-ALCOHOLIC S/N

3,000

155 MARKET CAP(Nm)

NATURAL RESOURCES

PRICE

BEVERAGES--BREWERS/DISTILLERS

PAPER/FOREST PRODUCTS

CONSUMER GOODS S/N

METALS

20 40

COSTAIN (W A) PLC.

CHEMICALS

LIVESTOCK/ANIMAL SPECIALTIES

2.88

NATURAL RESOURCES

AGRICULTURE

BUILDING CONSTRUCTION

1,152.00

INDUSTRIAL GOODS

308,500

BUILDING STRUCTURE/COMPLETION/OTHER

83,902 786,647

TOOLS AND MACHINERY

S/N

12 118

S/N

-2.63

3.60

A.G. LEVENTIS NIGERIA PLC.

7.03 74.00

1.44

S/N

47,920

8,834.44

2.09

139

VOLUME

337,062.73

1,268.15

-3.24

2,256.91

32.00

DIVERSIFIED INDUSTRIES

CUTIX PLC.

35.01

S/N

38.50

AUSTIN LAZ & COMPANY PLC

30,525.12

LIVESTOCK FEEDS PLC.

128,145

26,950.00

136

35,010.00

26,937

135

PRESCO PLC

LIVESTOCK/ANIMAL SPECIALTIES

TRADES

ELECTRONIC AND ELECTRICAL PRODUCTS

OKOMU OIL PALM PLC.

S/N

ELECTRONIC AND ELECTRICAL PRODUCTS

FISHING/HUNTING/TRAPPING

8.52

S/N

%CHANGE

19.56

2,469.30

PACKAGING/CONTAINERS

AGRICULTURE S/N

PRICE

43,803.70

BUILDING MATERIALS

INDUSTRIAL GOODS S/N

MARKET CAP(Nm)

PRICES FOR ETP SECURITIES

Price List (ETP) PRICE

%CHANGE

TRADES

LOTUS HALAL EQUITY ETF

497.24

8.02

-0.62

NEWGOLD EXCHANGE TRADED FUND (ETF)

353.55

2,357.00

-0.55

STANBIC IBTC ETF 30

824.18

72.00

VETIVA BANKING ETF

79.71

2.18

1.40

VETIVA CONSUMER GOODS ETF

68.65

5.91

-1.17

VETIVA GRIFFIN 30 ETF

1,687.49

11.22

-0.36

VETIVA INDUSTRIAL ETF

82.33

18.79

-0.74

125

S/N

COMPANY

MARKET CAP(Nm)

ETP TOTALS

PRICES FOR DEBT SECURITIES S/N

COMPANY

Price List (BONDS) PRICE

%CHANGE

TRADES

VOLUME

12.50% FGN JAN 2026

155,168.23

99.57

-0.43

20,000

15.10% FGN APR 2017

504,139.74

105.00

0.38

15.54% FGN FEB 2020

620,142.11

111.35

0.14

100

20,200

BONDS TOTALS

MARKET CAP(Nm)

100

20 40

THURSDAY, 14, 2016 • T H18, ISD AY T H I S D AYAPRIL • MONDAY, APRIL 2016

FEATURES CITYSTRINGS Beware of Swindlers Peter Uzoho who visited the popular Computer Village in Ikeja, reports that Acting Features Editor Editor Charles Ajunwa Email Email charles.ajunwa@thisdaylive.com

swindlers have infiltrated the market

The Computer Village, Ikeja

The world class Information Technology market, known as Computer Village in Ikeja, Lagos, is a Mecca of sorts. Hundreds of

Apart from being a commercial centre, the market is also a social setting where different behaviours and actions are displayed. In the market, there are bad eggs, the miscreants and the criminal minded-hustlers, mostly young boys, who have come to look for a way of survival, either by hook or by crook. They swindle customers on a daily basis

people from different walks of life troop to the IT market on daily basis to transact one business or the other. Around the market are offices of different law enforcement agencies; the conventional Police, the National Security and Civil Defence Corps and the Kick Against Indiscipline (KIA) and other security outfits. Their men are strategically positioned to arrest hoodlums who may cash in on the intimidating crowd within the IT market to cause trouble. At the Computer Village, all kinds of computer hardware, phones and their accessories are sold, and maintenance services rendered at the market. As early as 7am, business activities begin. People in their large numbers, with different motives, troop into the market to do one business or the other. Customers lurk around shops, choosing their preferred items, and then haggle for prices. “Computer village is a place for the gathering of engineers and sellers of IT businesses, like computer desktops, laptops, and some office-related devices, like printers, copiers, scanners, fax machines, typewriters, and so on,” said Onajobi Olayiwola, who works with MDKoffi Tech and Systems, a computer outlet at the market. “This is the largest computer market in the whole of West Africa and even the Sub-Sahara Africa”, Olayiwola added. He said the market used to be a place for typewriter repairs and maintenance, but the emergence of computer brought computer engineers and sellers together

at the market. “The market evolved as a typewriter repair and maintenance centre, but the emergence of computer now brought both typewriter and computer engineers and sellers in this location that’s now known as Computer Village. “I came into this market in 1999, about 17 years ago and I met a lot of people here. I started coming here during my IT years in 1993, and some people had been here before then, but they were not many. We started having the influx of people between 2003 and 2005, after the emergence of GSM in Nigeria. That was when the Igbo traders started relocating from where they were staying to come into phone sales here. And so, that’s how this market blossomed like this,” he said. When THISDAY visited Ibeto Treasure Enterprises, which is situated in one of the plazas inside the market, the environment was buzzing with activities. “Computer village is one of the leading computer markets in West Africa. It is an international market that is well-known,” said Paul Ibeto, who deals on wholesale and retail of GSM accessories. “You have diversity of businesses going on here with regard to information and technology business,” he said. “Those who may be hearing about this market for the first time may think it’s not as big as said, but when they come here, they will believe that, really, computer village is a big market. So this is where both local and international IT businesses are done on daily basis,” Ibeto added. Computer Village is a commercial

environment where all manner of people meet with different line of business, different individual character, attitude and intention. Computer and GSM phone wizards, who have at their fingertips, solutions to any computer or GSM faults, are there plying their trade. One of such is Abdulahi Ishola, a GSM technician, found in his desk at Idowu Plaza, displaying his technical dexterity while trying to fix a customer’s phone. Although he admitted the market is big, he said that there was little difference between Computer Village as a market and other markets in the country, except for its daily market operations and the international patronage it attracts. “Computer village is a big market. There are sales of phones, laptops, and phone and laptop accessories,” said Ishola. “There are a lot of things here just like other markets, the only thing that makes it different is that it’s a daily market and people come from other countries of the world to come and patronise us here because of the service we render and the kind of products we’re selling. So, there is nothing more special about it than that,” he said. According to him, the largeness of the market is not measured by the size of its location, but rather by the population of customers and by the volume of sales. “The size of this market is not measured by size but by the population of customers we have here every day, and also by the rate of sales we make. Here, business starts from 7am till around 7:30pm and

21 41

•TTHHI S I SDDAY AY• THURSDAY, APRIL18,14,2016 2016 MONDAY, APRIL

FEATURES CITYSTRINGS from that 7am, you will see people moving around, doing their transactions. You will see different people with different attitudes and intentions; the good people and the bad ones. Also you will see good products and bad ones here, just like what happens in other markets,” Ishola further explained. Apart from being a commercial centre, the market is also a social setting where different behaviours and actions are displayed. In the market, there are bad eggs, the miscreants and the criminal minded-hustlers, mostly young boys, who have come to look for a way of survival, either by hook or by crook. They swindle customers on a daily basis. “There is a place they call New York here. There, some boys who claim they sell phones, will put soap or fufu in a phone pack and sell to people in the name of phone,” said Michael Ojo, a customer at the market. “They did it to my friend when she went to buy phone. She was told that they don’t open phone packs when payment has not been made. So she paid them N15,000 as agreed, only for her to open the phone there and found out that what was in the pack was soap. She looked for the guy that sold it to her, but it happened that he had disappeared.” Also, a computer seller who pleaded anonymity confirmed that there are truly some mischievous elements among the traders in the market, who defraud customers in the guise of selling phones. But he noted that most of them do not own shops in the market. “To be honest, it’s not everybody here who claims to be a computer or phone seller that is genuine. There are those who come here because they don’t have any means of getting money, so they will come here and be robbing people of their money, claiming to be selling phones or computers. Most of them don’t have their own shops, so they can corner a customer in any shop and do whatever they want to do and run away,” said the source. “We have been battling with them through our market leaders because they’re damaging the image of the real traders here. And we keep telling people that whenever they are coming to buy phone or computer here, let them come with someone that has good knowledge of what they want to buy. Also, when they come they should enter the major shops and buy, instead of going to those hidden places where the bad boys hide to do their bad business,” the source advised.

One of the electronic shops in the market

A security gadget expert at the market

To be honest, it’s not everybody here who claims to be a computer or phone seller that is genuine. There are those who come here because they don’t have any means of getting money, so they will come here and be robbing people of their money, claiming to be selling phones or computers. Most of them don’t have their own shops, so they can corner a customer in any shop and do whatever they want to do and run away

Some hustlers at the market

Some customers pricing phones in one of the shops

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MONDAY APRIL 18, 2016 • T H I S D AY

INTERNATIONAL

email:foreigndesk@thisdaylive.com

77 Killed in Ecuador Earthquake Ecuador launched rescue operations yesterday after its biggest earthquake in decades killed at least 77 people, caused devastation in coastal populations and left an unknown number trapped in ruins. The 7.8 magnitude quake struck off Ecuador’s Pacific coast on Saturday night and was felt around the Andean nation of 16 million people, causing panic in the capital Quito and collapsing buildings in the large commercial city of Guayaquil. Nearly 600 people were injured. Northwestern coastal areas nearest the quake were worst affected, including Pedernales, a tourist spot with beaches and palm trees, and nearby Cojimies. Information was scant from there due to poor communications and transport chaos. “There are people trapped in various places and we are starting rescue operations,” Vice President Jorge Glas said on Sunday morning before boarding a plane to the area. The toll of 77 dead and 588 injured was bound to rise, he said. A state of emergency was declared in six provinces. “There are villages that are totally devastated,” Pedernales’ major Gabriel Alcivar, said in a radio interview, adding that “dozens and dozens” had died in the rustic zone. “What happened here in Pedernales is catastrophic.” Authorities said there were 135 aftershocks in the Pedernales area. One photo on social media purporting to be the entrance to Pedernales showed a torn up road with a crushed car in the middle and people standing behind. In Guayaquil, Ecuador’s largest city, rubble lay in the streets and a bridge fell on top of a car. “It was terrifying, we were all scared and we’re still out in the streets because we’re worried about aftershocks,”

said Guayaquil security guard Fernando Garcia. About 13,500 security force personnel were mobilized to keep order around Ecuador, and $600 million (£422.3 million) in credit from multilateral lenders was immediately activated for the emergency, the government said. Ramon Solorzano, 46, a car parts merchant in the coastal city of Manta, said he was leaving with his family. “Most people are out in the streets with backpacks on, heading for higher ground,” he said, speaking in a trembling voice on a WhatsApp phone call. “The streets are cracked. The power is out and phones are down.” President Rafael Correa cut short a trip to Italy to return. “Everything can be rebuilt, but lives cannot be recovered, and that’s what hurts the most,” he said. Parts of the highland capital Quito were without power or phone service for several hours but the city government said those services had been restored and there were no reports of casualties in the city. The government called it the worst quake in the country since 1979. In that disaster, 600 people were killed and 20,000 injured, according to the United States Geological Survey. Among international aid, Venezuela and Mexico were sending personnel and supplies, the Correa government said. A tsunami warning was lifted on Saturday night but coastal residents were urged to seek higher ground in case tides rise. “At first it was light, but it lasted a long time and got stronger,” said Maria Jaramillo, 36, a resident of Guayaquil, describing windows breaking and pieces falling off roofs. “I was on the seventh floor and the light went off in the whole sector, and we evacuated. People were very anxious in the street ... We

UN Receives New Sex Abuse Allegations against Peacekeepers in Congo The United States peacekeeping mission in Democratic Republic of Congo said on Saturday it had received new allegations of sexual abuse against its soldiers. The United Nations announced earlier this month that it was investigating accusations that Tanzanian peacekeepers based in northeastern Congo had sexually abused and exploited five women and six girls, leaving them all pregnant. The head of the U.N. mission in Congo, Maman Sidikou, told reporters in the capital Kinshasa that those 11 cases had involved members of Tanzanian units that left Congo last July but that seven more allegations had since surfaced. Five involve Tanzanian soldiers who arrived

last September, one involves the South African contingent and the seventh case involves forces from Malawi. “All of these cases are presumed cases of either pregnancy or of paternity ... and eight of the victims are minors,” Sidikou said, adding that investigations were underway. U.N. peacekeeping missions have been beset by accusations of sexual abuse. The United Nations reported 99 such allegations against staff members across the U.N. system last year. The U.N. peacekeeping mission in Congo, which was initially established during a civil war that lasted from 1998-2003, is the world’s largest, with around 20,000 uniformed personnel.

left barefoot.” State officials said the OPEC member’s oil production was not affected by the quake but the principal refinery of Esmeraldas, located near the epicentre, had been halted as a precaution. The Ecuadorean quake followed two large and deadly quakes that struck Japan since Thursday. Both countries are located on the seismically active “Ring of Fire” that circles the Pacific, but according to the U.S. Geological Survey large quakes separated by such long distances would probably not be related. “Even the earth’s rocky

crust is not rigid enough to transfer stress efficiently over thousands of miles,” it said on its web site. Quakes can cause other big quakes within a range of hundreds of miles, but can cause only small, brief quakes at a distance of thousands of miles, it said. in its Gambela region, and that Ethiopian troops had crossed the border to pursue the attackers. The attack took place on Friday in the Jakaya area that straddles the border, in a region that hosts alongside a neighbouring province more than 284,000 South Sudanese refugees who fled conflict in the world’s youngest nation.

“140 civilians died in the attack carried out by bandits that crossed from South Sudan,” a statement from the government communications office said. “Ethiopian troops are pursuing the bandits inside South Sudan. 60 of the assailants have been killed so far,” it added. The gunmen had no relation to South Sudanese government troops or rebel forces who fought the government in Juba in a civil war that ended with a peace deal signed last year, the body said. South Sudanese officials were not immediately available for comment. Under pressure

from the region, the United States, the United Nations and other powers, South Sudan’s feuding sides signed an initial peace deal in August and agreed to share out ministerial positions in January. Fighting broke out in December 2013 months after President Salva Kiir sacked his deputy Riek Machar as vice president, exacerbating a political dispute that reopened ethnic rifts between Kiir’s Dinka ethnic group and Machar’s Nuer. Machar said last week he would return to the capital Juba on April 18 to form a transitional government w i t h K i i r.

SEPARATIST FIGHTER

Separate Servicemen of the self-defense army of Nagorno-Karabakh rest at their position in the village of Talish…recently

ANC Supporters Killed as Bus Overturns in South Africa At least 11 people were killed and 59 more injured when a bus transporting African National Congress (ANC) supporters from an election rally in Port Elizabeth overturned yesterday, South African emergency services said. The bus rolled off the N1 highway between Ventersburg and Winsburg

in the Free State, trapping passengers underneath the vehicle, ER24 paramedics said in a statement. The cause of the accident, after which 21 passengers were in a critical condition, is not yet known, ER24 said. President Jacob Zuma launched the ANC’s manifesto in Port Elizabeth

on Saturday ahead of local elections in August. Around 40,000 ANC supporters attended the event in Nelson Mandela Stadium. “The ANC has learnt with sadness of a fatal accident in the Free State where a bus carrying comrades returning from the ANC manifesto rally in Port

Elizabeth overturned,” the party said in a statement. “Our thoughts are with the injured and bereaved at this time.” South Africa has problems with road safety. Some 4,500 people were killed in accidents last year, according to the country’s Road Traffic Management Corporation.

Mali Arrests Third Person in Connection with Cote d’Ivoire’s Beach Attack Authorities in Mali have arrested a third person believed to be linked to last month’s deadly al Qaeda attack on a beach resort in neighbouring Ivory Coast, military officials said yesterday. Gunmen shot swimmers and sunbathers before storming hotels in the town of Grand Bassam, killing 19 people 40 km

(25 miles) from the commercial capital, Abidjan, on March 13. One source said Alou Doumbia was arrested on Saturday in the Malian capital of Bamako and suspected of driving the gunmen from Mali to Ivory Coast. A second police source confirmed the arrest but was unable to provide further detail.

Saturday’s arrest was the third reported in Mali linked to the Grand Bassam attacks, that were claimed by Al Qaeda in the Islamic Maghreb (AQIM), the Islamist group’s North African branch.. Eleven Ivorians, including three special forces’ soldiers, died in the attack. Four French citizens were killed and other foreign

victims included citizens of Germany, Lebanon, Macedonia and Nigeria. Ivory Coast authorities have also arrested 15 people and say the ringleader, who they named as Kounta Dallah, was still at large. A spokesman for the Mali security services was not immediately available for comment.

MONDAY APRIL 18, 2016 • T H I S D AY

INTERNATIONAL

Russia Rejects US Criticism of New Baltic Encounter Russia’s military rejected criticism by U.S. European Command that a Russian jet had made aggressive manoeuvres near a U.S. reconnaissance plane over the Baltic Sea, a second incident in the region between the Cold Warera foes in the past week. Under President Vladimir Putin, Russia’s military has been beefed up by increased spending and ambitious rearmament, while Moscow, which accuses NATO of expanding towards Russia’s borders, tries to pursue a more assertive foreign policy. The latest incident occurred on Thursday as a Russian Su-27 fighter “performed erratic and aggressive manoeuvres”, flying within 50 feet of a U.S. RC-135

aircraft, U.S. European Command spokesman Danny Hernandez said, replying to a question from CNN. The United States had protested to Moscow, Hernandez said. “The unsafe and unprofessional actions of a single pilot have the potential to unnecessarily escalate tensions between countries,” he said. Russia dismissed the report as “running counter to reality”, saying its air defences had had to scramble a fighter jet after detecting a high-speed unidentified target over the Baltic Sea heading for its borders. After making “visual contact” with the Russian Su-27, the American reconnaissance plane changed its course away from Russia’s borders,

defence ministry spokesman Igor Konashenkov said in a statement. The flight of the Russian warplane was in “strict conformity with international laws ... and there were no emergency situations,” he said. That incident occurred just two days after two Russian Su-24 bombers buzzed the Donald Cook, a U.S. guided missile destroyer, in the Baltic Sea on Tuesday, simulating attack passes, with a U.S. military official describing them as one of the most aggressive interactions in recent memory. U.S. Secretary of State John Kerry condemned as dangerous and provocative the military encounter in the Baltic Sea.

Hundreds Detained as Indian Caste Protest Turns Violent Protests by an Indian caste demanding the release of one of its leaders turned violent yesterday, as police fought running street battles with stonethrowing demonstrators and detained hundreds. Statewide marches in Gujarat calling for the freeing of Hardik Patel, a young leader of the Patel community who has been in jail since last October on sedition charges, turned violent in the town of Mehsana. Police fired tear gas, deployed water cannon and staged baton charges against protesters. The local administrator imposed a curfew in Mehsana. Across

the state more than 400 protesters were detained. At least two dozen people were injured in Mehsana, NDTV said in a report that could not immediately be confirmed. “The internet has been jammed so that no rumours are spread through WhatsApp and other social sites,” said Mehsana District Collector Lochan Sehra. “Peace should be maintained throughout the city.” Hardik Patel, 22, emerged overnight last year as leader of a mass movement demanding more government jobs and college places for the Patel -- or Patidar -- community that makes up 14 percent of

Gujarat’s 60 million population. Last year’s protests caught the state and federal governments off guard, and challenged the promise of new job opportunities made by Prime Minister Narendra Modi, who ran Gujarat for 13 years before winning the 2014 general election. Earlier this year the Jat land-owning caste launched mass protests in another Indian state, Haryana, only backing down when the authorities yielded to their demands for more jobs and opportunities to study.

Obama Immigration Action Goes before Supreme Court The United States Supreme Court will today hear a case that tests the boundaries of presidential powers, confronting the question of whether President Barack Obama exceeded his authority with unilateral action to spare millions of people in the country illegally from deportation. The case, one of the most consequential of the court’s current term that ends in June, pits Obama against 26 states led by Texas that filed suit to block his 2014 immigration plan. The high court is evenly divided with four liberal justices and four conservatives following the February death of conservative Antonin Scalia. That raises the possibility of a 4-4 split that would leave in place a 2015 lower-court ruling that threw out the president’s executive action that bypassed the Republican-led Congress. The arguments in the case come at a time when immigration is a divisive issue in the

U.S. presidential campaign, with top Republican contenders advocating deporting all of the estimated 11 million people in the country illegally. Obama took the action after Republicans in the House of Representatives killed bipartisan legislation, billed as the biggest overhaul of U.S. immigration laws in decades and providing a path to citizenship for illegal immigrants, that was passed by the Senate in 2013. Obama’s plan was tailored to let roughly 4 million people - those who have lived illegally in the United States at least since 2010, have no criminal record and have children who are U.S. citizens or lawful permanent residents - get into a program that shields them from deportation and supplies work permits. Obama’s program was called Deferred Action for Parents of Americans and Lawful Permanent Residents (DAPA). Shortly before the plan was to

go into effect last year, a federal judge in Texas blocked it after the Republican-governed states filed suit against the Democratic president’s executive action. The New Orleans-based 5th U.S. Circuit Court of Appeals upheld that decision in November. The Supreme Court’s ruling is due by the end of June. Obama’s action arose from frustration within the White House and the immigrant community about a lack of action in politically polarized Washington to address the status of people, mostly Hispanics, living in the United States illegally. Obama has drawn Republican ire with his use of executive action to get around Congress on immigration policy and other matters including gun control and healthcare. On the immigration action, the states contend Obama exceeded the powers granted to him by the Constitution by intruding upon the authority of Congress.

MONDAY APRIL 18, 2016 • T H I S D AY

INTERNATIONAL

Japan Rescuers Search Quake Rubble for Survivors Japanese rescue teams yesterday scoured the splintered remains of buildings destroyed by a series of deadly earthquakes in southern Japan as time ran out for finding survivors and as major Japanese manufacturers face production losses from supply chain disruptions. A 7.3 magnitude tremor struck early on Saturday, killing at least 32 people, injuring about a thousand and causing widespread damage to houses, roads and bridges, with at least one mountain highway severed in two, concrete tumbling into the valley below. In the village of Minamiaso, 11 people were “out of contact”, said public broadcaster NHK. Rescuers pulled 10 students out of a collapsed university apartment in the same settlement on Saturday. “In Minamiaso, where the damage is concentrated, there may still be people trapped under collapsed buildings, so we are focussing our attention and rescue and search efforts in this area,” Chief Cabinet Secretary Yoshihide Suga told reporters. It was the second major quake to hit Kumamoto province on the island of Kyushu in just over 24 hours. The first, late on Thursday, killed nine people. Of more than 470 quakes hitting Kyushu since Thursday, 78 have been at least a four on Japan’s intensity scale, strong enough to shake buildings. Quakes are common in Japan, part of the seismically active “Ring of Fire” which sweeps from the South Pacific islands, up through Indonesia, Japan, across to Alaska and down the west coast of the United States and Central and South America. At the other end of the ring this weekend, Ecuador’s biggest earthquake in decades killed at least 77 people, caused devastation in coastal towns and left an unknown number trapped in ruins. A 6.1 magnitude quake

also struck southeast of the Pacific island nation of Tonga, with no immediate reports of damage. Three nuclear plants in the southern Japanese region were unaffected by the second quake, but the Nuclear Regulation Authority said it will hold an extraordinary meeting on Monday to discuss the disaster. A massive 9 magnitude quake and tsunami in northern Japan in March 2011 caused the worst nuclear crisis since Chernobyl in 1986, shutting down the nuclear industry for safety checks and sending radiation spewing across the countryside. The first reactor to restart was Kyushu Electric’s (9508.T: Quote) Sendai No. 1, which is at one of the plants in the region hit on Saturday. Nearly 20,000 people were killed in the 2011 tsunami. The Kumamoto region is an important manufacturing hub. Toyota Motor Corp (7203.T: Quote) said it would suspend production at plants across Japan after the quakes disrupted its supply chain. Electronics giant Sony Corp (6758.T: Quote) said its Kumamoto image sensors plant would remain suspended. One of the company’s major customers for the sensors is Apple (AAPL.O: Quote). Meanwhile, Honda Motor Co. (7267.T: Quote) said production at its motorcycle plant in southern Japan would remain suspended through Friday. All commercial flights to the damaged Kumamoto airport were cancelled and Japan’s bullet train to the region suspended. Expressways are closed in wide areas because of landslides and cracks in road surfaces, hindering efforts to get supplies of water and food to survivors. Overnight, rescuers digging with their bare hands dragged some elderly survivors, still in their pyjamas, out of the rubble and onto makeshift stretchers made

Saudi-Iran Tensions Scupper Deal to Freeze Oil Output A deal to freeze oil output by OPEC and non-OPEC producers fell apart yesterday after Saudi Arabia demanded that Iran join in despite calls on Riyadh to save the agreement and help prop up crude prices. The development will revive oil industry fears that major producers are embarking again on a battle for market share, especially after Riyadh threatened to raise output steeply if no freeze deal were reached. Iran is also pledging to ramp up production following the lifting of Western sanctions in January, making a compromise with Riyadh almost impossible as the two fight proxy wars in Yemen and Syria. Some 18 oil nations, including non-OPEC Russia, gathered in the Qatari capital of Doha for what was expected to be the rubber-stamping of a deal - in the making since February - to stabilize output at January levels until October 2016. But OPEC’s de facto leader Saudi Arabia told participants it wanted all members of the Organization of the Petroleum Exporting Countries to take part

in the freeze, including Iran, which was absent from the talks. Tehran had refused to stabilize production, seeking to regain market share post-sanctions. After five hours of fierce debate about the wording of a communique - including between Saudi Arabia and Russia - delegates and ministers announced no deal had been reached. “We concluded we all need time to consult further,” Qatar’s energy minister Mohammed alSada told reporters. Several OPEC sources said if Iran agreed to join the freeze at the next OPEC meeting on June 2, talks with non-OPEC producers could resume. The failure to reach a global deal could halt a recent recovery in oil prices. “With no deal today, markets’ confidence in OPEC’s ability to achieve any sensible supply balancing act is likely to diminish and this is surely bearish for the oil markets, where prices had rallied partly on expectations of a deal,” said Natixis oil analyst Abhishek Deshpande.

of tatami mats. Prime Minister Shinzo Abe said he would boost the number of troops helping to 25,000 and had accepted a U.S offer of help with air transportation. Heavy rains fuelled worries of more landslides and with hundreds of aftershocks and fears of more quakes, thousands spent the night in evacuation centres. “It’s full in there. There’s not a inch to sleep or even walk about in there. It’s impossible in there,” a resident of Mashiki town said outside an evacuation

centre. Firefighters handed out tarpaulins to residents so they could cover damaged roofs, but many homes were simply deserted. Around 62,700 households were without electricity, water supplies had been disrupted to more than 300,000 homes and some areas had lost their gas supply, said NHK. More than 110,000 people have been evacuated from the Kumamoto area, said Kyodo. Troops set up tents for evacuees and water trucks were being sent to the area while television

footage showed people stranded after the fall of a bridge being rescued by helicopters. Police said 32 people had been confirmed dead in Saturday’s quake. The government said about 190 of the injured were in a serious condition. The epicentre of Saturday’s quake was near the city of Kumamoto and measured at a shallow depth of 10 km (six miles), the United States Geological Survey (USGS) said. The shallower a quake, the more likely it is to cause

damage. The city’s 400-yearold Kumamoto Castle was badly damaged, with its walls breached after having withstood bombardment and fire in its four centuries of existence. The USGS, a science organisation that provides information on ecosystems and the environment, estimated there was a 72 percent likelihood of economic damage exceeding $10 billion (£7 billion), adding that it was too early to be specific. Major insurers are yet to release estimates.

SURVIVAL STRUGGLE

Protesting migrants flee from teargas during clashes with Macedonian police next to a border fence at a makeshift camp for refugees and migrants at the Greek-Macedonian border…recently

Gambia Arrests Opposition Leaders, Supporters Security forces in Gambia arrested senior opposition leaders and their supporters on Saturday after they accused authorities of killing a party youth leader who was being held in custody after a demonstration earlier in the week, witnesses said. Police stormed the home of Ousainu Darboe, leader of the main opposition United Democratic Party (UDP), rounding up supporters and party officials who had gathered there, witnesses told Reuters by telephone from the capital Banjul. Darboe was among those arrested, family members said. He had earlier held a news conference where he demanded answers from the authorities amid reports that Solo Sandeng,

the party’s National Organising Secretary, had been tortured to death while in detention. “I’m ready to die. I’m not going to ask for police permission (to demonstrate). I want to see the body of Solo, dead or alive,” Darboe said, according to a witness who was present. The government of the tiny West African nation had acknowledged making arrests following Thurday’s demonstration. Police sources confirmed Sandeng had been among those detained. The small protest, which called for election reforms and free speech protection, was a rare act of defiance and occurred while President Yahya Jammeh was in Turkey attending a summit of Islamic countries.

Government and security officials were not available to comment on Saturday, but Amnesty International said that, according to information it had received, Sandeng had died. “The tragic death in detention of Solo Sandeng must leave no space for impunity. The authorities must conduct an immediate, thorough and independent investigation,” said Sabrina Mahtani, Amnesty International West Africa researcher. Amnesty said that another detained UDP member, Fatoumata Jawara, was also believed to be suffering from serious injuries. Jammeh, who seized power in a bloodless coup in 1994, has made headlines for eccentric proclamations, including a claim to have invented a cure for HIV/AIDS

and his recent surprise decision to make Gambia an Islamic republic. But he is also regularly denounced by rights groups and foreign governments for ruthlessly stamping out political dissent in the nation of 2 million people, which is a popular beach destination for budget-minded European tourists. The former military man, who once told a reporter he could lead Gambia for “a billion years”, is expected to extend his rule in elections in December. He has scrapped term limits from the constitution, and the regional bloc ECOWAS refused to send observers to the last elections in 2011, citing intimidation of the opposition and the electorate.

UK Police Bail One of Five Linked to Paris, Brussels Attacks British police have bailed one of five people arrested last week on suspicion of preparing acts of terrorism, West Midlands Police in central England said yesterday. British police arrested five people last week as part of an investigation which a security source said was linked to the attacks in Paris and Brussels. Four were arrested in Birmingham, central England, and one at

London’s Gatwick Airport. West Midlands Police said in a statement that four people, three men and one woman, were still being questioned after securing warrants of further detention, while a 59-year-old man had been bailed “with strict conditions”. “The arrests were preplanned and intelligenceled. There was no risk to the public at any time and there is no information to

suggest an attack in the UK was being planned,” said Assistant Chief Constable Marcus Beale, who leads on counter terrorism for the West Midlands. British media have reported that Belgian Mohamed Abrini, suspected of involvement in the Islamic State attacks in Brussels, had traveled to Birmingham last year and taken photos of a soccer stadium. Abrini, who investigators

say has confessed to depositing a bomb at Brussels airport, is also wanted in connection with the Paris attacks. Abdelhamid Abaaoud, the suspected planner of the Paris attacks who was killed by French police late last year, is also reported by local media to have visited Birming h a m a n d had photographs of places in the city on his smartphone.

T H I S D AY • MONDAY APRIL 18, 2016

Nigeria’s top 50 stocks based on market fundamentals

15-Apr-16

14-Apr-16

% Change

Capitalisation

EPS

P/E

P/S

Div. Yld

Price/ Book Value

Table 1 Market Statistics Mkt Indicators

Open 14-Apr-16

NSE All Share Index NSE Market Cap (N'Trillion)

24,746.04 8.51

24,719.27 8.50

-0.11 -0.11

101.26 7.88

101.22 7.87

-0.13 -0.13

01 Dangote Cement Plc

160.97

160.25

0.45%

2,730,741,311,651.25

10.64

15.04

5.54

5.00%

4.23

02 Nigerian Brew. Plc.

106.00

107.47

-1.37%

852,140,472,433.36

5.37

19.93

3.07

3.36%

4.98

03 Nestle Nigeria Plc.

640.01

645.00

-0.77%

511,263,282,540.00

29.95

21.54

3.38

4.50%

13.45

15.37

15.20

1.12%

447,353,924,204.80

3.38

4.39

1.90

11.94%

1.06

278.57

293.23

-5.00%

381,926,533,832.69

4.45

65.92

3.06

1.18%

8.25

06 Zenith Bank Plc

11.45

11.20

2.23%

351,640,730,403.20

3.37

3.27

0.80

16.36%

0.58

07 Lafarge Africa Plc.

74.00

76.00

-2.63%

346,172,537,560.00

5.93

12.66

1.28

4.00%

1.94

08 Ecobank Transnational Incorporated

13.87

0.00%

254,508,275,352.05

1.39

9.98

0.49

4.46%

0.68

332.15

310.30

7.04%

171,692,190,123.90

23.48

13.21

1.52

5.13%

0.61

10 Guinness Nig Plc

99.90

0.00%

150,438,229,981.20

0.78

128.48

3.02

0.00%

3.37

11 Stanbic IBTC Holdings Plc

13.65

13.00

5.00%

130,000,000,000.00

2.04

6.38

1.10

0.77%

1.16

12 FBN Holdings Plc

3.33

3.37

-1.19%

120,967,136,709.04

2.16

1.58

0.30

29.41%

0.21

Table 4 Top 5 Losers

13 United Bank for Africa Plc

3.24

0.00%

117,545,665,283.28

1.64

1.92

0.36

19.05%

0.34

Stock

29.25

0.00%

110,661,415,312.50

0.32

91.86

1.85

0.17%

13.69

15 7-Up Bottling Comp. Plc.

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.

21.22

23.50

-9.70%

93,306,210,557.50

1.10

21.42

1.29

5.53%

2.22

3.69

3.79

-2.64%

86,726,262,661.32

2.28

1.63

0.32

14.82%

0.29

18 International Breweries Plc.

20.00

0.00%

65,884,985,600.00

0.64

31.29

3.56

1.25%

5.47

19 Dangote Sugar Refinery Plc

5.25

5.26

-0.19%

63,120,000,000.00

0.96

5.41

0.62

9.62%

1.07

43.00

0.00%

56,760,000,000.00

1.85

23.26

0.42

3.49%

2.34

4.56

4.60

-0.87%

55,359,246,912.40

0.50

9.04

0.10

16.59%

0.34

22 Total Nigeria Plc.

159.00

160.00

-0.62%

54,323,493,920.00

11.92

13.46

0.26

8.72%

3.35

23 Mobil Oil Nig Plc.

151.25

149.20

1.37%

53,800,813,090.40

13.51

11.10

0.84

4.80%

3.52

24 Flour Mills Nig. Plc.

19.36

20.00

-3.20%

52,484,743,740.00

1.84

10.86

0.16

10.00%

0.51

25 Sterling Bank Plc.

1.56

1.49

4.70%

42,897,723,007.74

0.36

4.36

0.41

5.77%

0.47

26 Fidelity Bank Plc

1.40

1.37

2.19%

39,695,471,921.51

0.48

2.85

0.27

11.68%

0.22

27 Transnational Corporation Of Nigeria Plc

1.00

1.01

-0.99%

39,108,207,399.25

0.05

19.63

0.98

0.00%

0.46

28 U A C N Plc.

19.40

18.43

5.26%

35,401,530,652.41

2.70

7.19

0.51

5.15%

0.50

29 Presco Plc

35.01

0.00%

35,010,000,000.00

3.28

10.55

3.05

0.29%

1.54

30 Okomu Oil Palm Plc.

32.00

33.07

-3.24%

31,545,803,700.00

2.76

10.89

2.94

0.33%

2.38

31 Glaxo Smithkline Consumer Nig. Plc.

24.97

0.00%

29,861,035,905.36

0.81

30.94

0.97

1.20%

2.26

32 Diamond Bank Plc

1.30

1.24

4.84%

28,718,882,320.32

0.92

1.36

0.15

24.00%

0.13

33 Wema Bank Plc.

0.70

0.71

-1.41%

28,036,744,981.23

0.06

11.60

0.59

0.00%

0.59

34 Cadbury Nigeria Plc.

14.77

0.00%

27,741,044,130.80

3.21

4.61

0.82

8.80%

2.68

35 Cap Plc

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

3.90

0.00%

22,939,270,360.50

0.71

5.53

0.78

5.06%

0.89

37 Mansard Insurance Plc

2.04

0.00%

21,420,000,000.00

0.16

12.32

1.24

2.56%

1.18

38 National Salt Co. Nig. Plc

7.40

7.41

-0.13%

19,632,338,380.98

0.79

9.81

1.28

7.05%

2.92

39 FCMB Group Plc.

0.92

0.90

2.22%

17,822,439,678.60

0.24

3.74

0.12

11.11%

0.11

40 Skye Bank Plc

0.97

0.95

2.11%

13,186,286,339.50

0.85

1.09

0.09

32.26%

0.09

41 Honeywell Flour Mill Plc

1.36

1.39

-2.16%

11,022,974,744.62

0.14

9.84

0.22

11.51%

0.51

42 Continental Reinsurance Plc

1.01

1.00

1.00%

10,372,744,312.00

0.21

4.99

0.54

0.00%

0.69

43 Cement Co. Of North.Nig. Plc

7.03

0.00%

8,834,444,694.98

0.96

7.36

0.68

1.42%

0.87

44 Unity Bank Plc

0.70

0.68

2.94%

7,948,749,800.56

0.54

1.29

0.13

0.00%

0.10

45 UACN Property Development Co. Limited

4.00

3.99

0.25%

6,857,812,480.05

1.81

2.10

0.58

18.42%

0.20

46 Wapic Insurance Plc

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

3.99

3.89

2.57%

6,318,210,937.50

0.33

11.75

0.74

5.14%

1.04

48 Resort Savings & Loans Plc

0.50

0.00%

5,664,866,202.00

4.68

0.11

0.02

0.00%

1.89

49 AIICO Insurance Plc.

0.72

0.70

2.86%

4,851,143,136.00

0.28

2.60

0.15

6.94%

0.51

50 Fidson Healthcare Plc

2.10

2.00

5.00%

3,000,000,000.00

0.50

4.03

0.37

2.50%

0.47

04 Guaranty Trust Bank Plc. 05 Forte Oil Plc.

09 Seplat Petroleum Dev. Co. Ltd.

14 Unilever Nigeria Plc.

17 Access Bank Plc.

20 Julius Berger Nig. Plc. 21 Oando Plc

TOTAL

7,884,513,339,439.80

TOTAL MARKET CAP

8,512,179,115,435.72

% OF MARKET CAP Annotation - MA* = Simple Moving Average

92.63%

Thisday BGL 50 Index Thisday BGL 50 Market Cap (N'Trillion)

Close 15-Apr-16

Change %

Table 3 Top 5 Gainers Stock

Open Close Change 14-Apr-16 15-Apr-16 %

Seplat Petroleum Dev. Co. Ltd. U A C N Plc. Stanbic IBTC Holdings Plc Fidson Healthcare Plc Diamond Bank Plc

310.30 18.43 13.00 2.00 1.24

332.15 19.40 13.65 2.10 1.30

7.04 5.26 5.00 5.00 4.84

Open Close Change 14-Apr-16 15-Apr-16 %

P Z Cussons Nigeria Plc. Forte Oil Plc. Okomu Oil Palm Plc. Flour Mills Nig. Plc. Access Bank Plc.

23.50 293.23 33.07 20.00 3.79

21.22 278.57 32.00 19.36 3.69

-9.70 -5.00 -3.24 -3.20 -2.64

Market closes week with modest 0.11% loss Market pulse on the Nigerian Stock Exchange (NSE) today – Friday, April 15, 2016 closed red due to profit taking as the market had over the course gained on three occasions. This was further highlighted by negative performances from all the NSE Sub sectors; Banking, Consumer Goods, Oil & Gas and Insurance. Trading activities decreased in volume as 271.67 million shares worth N1.61 billion in 2,988 deals exchanged hands today. This is a decrease from the 162.47 million shares worth N1.02 billion in 3,079 deals carried out on Wednesday. Topping in volume terms was Law union and rock Insurance Plc, UBA Plc and Guaranty Trust Bank Plc, while Guaranty Trust Bank Plc and Dangote Cement Plc ended trading as the most active stocks in value terms. The All Share Index (NSEASI) closed negative with a 0.11% (-26.77) decrease to 24,719.27 from 24,746.04 the previous trading day. Market Capitalization appreciated in tandem to N8.50 trillion from N8.8.51 trillion of prior trading day. However, the Thisday BGL 50 also followed suit with a 0.13% decline to close at 101.22 from 101.26 the previous trading day, while its market capitalization stood at N7.87 trillion from N7.88 trillion of the previous trading day. A total number of 25 stocks gained on the bourse today while 23 stocks declined, leaving 60 stocks unchanged. Seplat Petroleum Dev. Co. Ltd. emerged the toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 7.04% to close at N332.15per share. It was followed UACN Plc with a gain of 5.26% to close at N19.40 per share. Others on the gainers list include; Stanbic IBTC Holdings Plc, Fidson Healthcare Plc and Diamond Bank Plc, while on the decliners’ list; P Z Cussons Nigeria Plc led with a loss of 9.70% to close at N21.22 per share. It was followed by Forte Oil Plc with a loss of 5.00% to close at N278.57 per share. Others on the losers list include; Okomu Oil Palm Plc, Flour Mills Nig. Plc and Access Bank 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

MONDAY APRIL 18, 2016 • T H I S D AY

NEWSEXTRA

Emefiele Predicts Economic Boom for Nigeria in 2018 Hints of hike in interest rate in May Kunle Aderinokun, Chika Amanze-Nwachuku andFunke Olaode inWashingtonDC The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has said the economy would experience a boom by the end of 2018 just as he hinted of a hike in interest rate by May this year at the monetary policy committee (MPC) of the apex bank following the inflation rate that has galloped to 12.4 per cent from 11.8 per cent. Emefiele, who made this prediction yesterday at the closing press briefing by the Nigerian delegation, noted that the economy was currently going through a structural reforms and now attracting a series of investments that would translate to a major recovery in about two years. The briefing was jointly held by the Ministry of Finance and CBN at the end of the 2016 spring meetings of the IMF-World Bank. According to him, “Basically, the issue is how the country would respond to the challenges that we are facing right now. Other than the area of investment in infrastructure, one other area has to do with structural reforms which have been suggested. These reforms had worked in the South Eastern Asian countries like Malaysia, India, Indonesia, Bangladesh and that is why growth from these areas have remained fairly very strong. “Diversification of the economy is an issue here that have been proposed as part of the structural reforms, particularly oil export producing countries should be looking at. I must say here that I am glad that Nigeria is taking the issues of diversification from oil very seriously. “Recently, we have seen people coming to talk about investing in agriculture in Nigeria. About two weeks ago I inspected a 16,000 hectares sugar cane farm as well as a milling and refining facilities

in Niger State. We have Nigerian investors looking at investing in fertilizer. So the biggest fertilizer plant in the world will be in Nigeria. We believe that over time and hopefully around the middle of early 2018 or the end of 2018, the pressure that the demand for some from these final products, the pressure that places on reserve and CBN will be substantially reduced and I think with that we can see the green light at the end of the tunnel.” Emefiele noted that it would be difficult not to have a high interest rate when inflation is rising, adding however that, the CBN would intervene to ensure the effect of the high interest does not affect productivity and ultimately prices. He said: “The inflation rate is at 12.4 per cent in the month of March and if the policy rate is at 12per cent, it is not in our economic model to pursue if the policy rate is lower than the inflation rate , that is negative real interest rate, we can do that. Inferentially, what I’m trying to say is that, it would be difficult for you to run away from a fairly high interest rate in an environment of rising inflation. “But in any case, I had also underscored that the Central Bank of Nigeria in line with the development finance objective will continue to provide intervention to some of the target sector of the country, like agriculture, mining and some of the real sector of the economy that will help engender growth and improve productivity and when productivity improves, naturally, what you will find out is that prices would come down and that will positively impact on inflation, that is exactly what we are talking about. I’m optimistic that will work and eventually Nigeria will have a cause to smile.” The CBN governor threw more light on the currency swap with China and took time to highlight the benefit derivable from the deal.

El-Rufai Shuts down Govt House Clinic, Directs Staff to Patronise Public Hospitals John ShiklaminKaduna Kaduna State Governor, Mallam Nasir el-Rufai, has closed down the Government House Clinic in Kaduna and deployed its personnel to public hospitals. Similarly, drugs and equipment in the clinic had been moved to the government-owned Yusuf Dantsoho Hospital, Tudun Wada, Kaduna while the Government House staff had been directed to henceforth use the Yusuf Dansotho Hospital for their medical needs. The spokesman of the governor, Mr. Samuel Aruwan, in a statement yesterday said the decision to close down the clinic was taken to boost the healthcare system in the state by moving medical personnel, drugs and equipment to public hospitals. “There are not yet enough doctors in the public health system in Kaduna State, therefore, it is not prudent to assign doctors, nurses and other medical staff to serve Government House alone.

“It is clearly more beneficial to the wider society if the services of these medical personnel were made available to the public in a general hospital. In addition, it is better that everyone working in the Government House uses the same health facilities as the general public” the statement said. According to the statement, “Medical personnel from the Government House Clinic have been redeployed to public hospitals in the state. All drugs and medical equipment in the Government House Clinic have also been evacuated and are being put to use at the Yusuf Dansotho Hospital. “From now on, all Government House staff requiring medical services will proceed to the nearest public hospital to the Government House like other citizens of the state. It is expected that the management of the public hospitals will make good use of the medical personnel, drugs and equipments donated to them.”

He explained: “On the Swap, we have been holding discussions with the People’s Bank of China about the Swap arrangements which entails using of Yuan (Chinese money) transaction between Nigeria and China. At the meeting what we did was to sign a mandate agreement between the Central Bank of Nigeria and Industrial and Commercial Bank of China, which is the biggest in the world to act as our agent in concluding the consummation of the transaction. “The benefits are two-fold: It affords Nigerian importers the opportunity to open letters of credit using Renminbi as a currency rather than using the Dollar. As you know, in 2015, Nigeria net import between Nigeria and China is about $15 billion. The benefit with the arrangement makes it easier for you to make your

transaction in Chinese currency which put less pressure on you looking for dollars to carry out your trade transactions in China. “Also, China has appointed South Africa as its trading hub for Southern Africa countries, while Kenya will represent East African Countries and the mandate we signed is for Nigeria to be appointed as the trading hub in the West African Sub-region. In all, it put less pressure and we expect it is going to be mutually beneficial and eventually, we will be talking to China about importing some of its own items from Nigeria so that the trading balance can be reduced. Will Nigeria benefit from this? I want to say Nigeria will benefit from it and put less pressure on the dollar and reserve.” Minister of Finance, Kemi Adeosun,

clarified that in broadening the tax base, the federal government would emphasise on compliance initially and may later consider increase in value added tax (VAT), which is now at 5 per cent next year. She also clarified her statement that ‘Nigerian economy is not sick.’ According to her, “We are not saying that as a country we don’t have challenges. We recognize those challenges and we are facing them, what we do is to take responsibility for providing solutions to our problems. That comment was made in respect of anon-Nigerian guy who said ‘Nigeria is in a mess’, I take an exception to anybody saying that. Fine we have our challenges and we are not the only country in the global economy that have economy challenges. But we have the diagnosis of our problems, the country is adjusting

and people are going through very tough adjustment in their personal finances and government is going through technical adjustment on how it spends her money and trying to be more efficient in spending, how revenues are coming, trying to block leakages. “So we are fixing the problems ourselves that is what I mean and we say that as a country we have the capacity, we have the will most importantly both political and will of the people to solve our problems our own way. We are not denying the fact that we have challenges but we have everything that it takes to solve the problems. We have the local knowledge to solve the problems. Our priority is to position the economy properly for growth, recovery and creation of jobs for Nigerians.”

MARRIAGE ACROSS BORDERS

L-R: Adamawa State Governor, Muhammad Umar Bindow; former Vice President, Alhaji Atiku Abubakar; and his wife, Titi, at the palace of the Asantehene, Otumfuo Osei Tutu II, at the traditional wedding ceremony of Atiku’s son, Aminu, at the palace of the Asante in Kumasi, Ghana....weekend

Troops Discover Boko Haram Sentries, Underground Food Storage Kill two terrorists, rescue two children Senator Iroegbu in Abuja The Nigeria military has uncovered Boko Haram’s observer posts, as well as a network of underground food storage facilities in Bama, Borno State. The acting Director of Army Public Relations (DAPR), Colonel Sani Kukasheka Usman, in a statement yesterday, said the troops of 7 Division Strike Group Team B and 22 Task Force Brigade made the discovery on Saturday when they conducted a simultaneous dawn raid on suspected terrorists hideouts at Biggoro, Warpaya and Aura, North of Kumshe in Bama Local Government Area of the state Usman said the essence of the operation was stop the reported criminal activities of remnants of Boko Haram hiding in the three villages. This, he explained, became

necessary as previous efforts were futile, adding that “the suspected terrorists kept coming in search for food, water and shelter.” According to him, the surprisedawn attack yielded positive result as the troops discovered well concealed observation posts on trees in the villages constructed by the terrorists to give them early warning of troops movement or approach. He said: “In addition, the troops found out that the observation posts through tree tops, were constructed in such a manner with chairs and ropes to pull up foods and other needs by the sentry without necessarily coming down the trees. “To also save for the rainy day, the terrorists had underground food storage facilities where they stocked large quantity of foodstuffs.” The army spokesman said the troops killed two Boko Haram terrorists and also recovered

three AK-47 rifles, magazines and ammunitions. He revealed that the military also recovered two motorcycles from them. In addition, Usman said they rescued two children from the terrorists. Also, the Nigerian military, has in the course of its ongoing clearance operations against the Boko Haram terrorists in the North-east, discovered another large cache of arms in Borno State. The Commander, Operation Lafiya Dole, Maj-Gen. Leo Irabor, disclosed at a press briefing in Biu, Borno yesterday that the troops and some Civilian JTF, acting on a tip off yesterday went on a clearance patrol to Borgozo-Alargano general area in which they discovered large cache of arms and ammunitions concealed by the terrorists. Irabor said the patrol team also cleared remnants of Boko Haram

that were dislodged from Alagarno forest hibernating at Kadari, Camp Abu Fatima and Gursum. The troops, he said, discovered large cache of arms and ammunitions that include 36 boxes of .51mm calibre, 5 x 20 Lyra beefcake mixture of 7.62mm (NATO) ammunition, large quantity of 7.62mm (Special), ammunition and one 81mm mortar tube. He listed other items recovered by the troops to include a Toyota Hilux, generator and several motorcycles. The commander used the opportunity to “appeal to all Nigerians and in particular, the good people of Adamawa, Borno and Yobe States to continue to provide useful information to troops in order to facilitate complete routing of the remnants of Boko Haram insurgents hiding in their localities.”

MONDAY APRIL 18, 2016 • T H I S D AY

NEWSEXTRA

Ekweremadu: Ndigbo, Key to Nigeria’s Survival, Urges Government on Inclusiveness Christopher Isiguzo in Enugu The Deputy Senate President, Senator Ike Ekweremadu, yesterday lamented that the people of the South-east geo-political zone are

being relegated in the scheme of things in the country, insisting that unless they are given their due respect and share in the allocation of the nation’s resources and political positions, the nation would not

House C’tte Denies Adding N4bn to CCB’s Budget Gboyega Akinsanmi The crisis between the Presidency and National Assembly over the 2016 appropriation bill yesterday deepened as the House of Representatives Committee onAnticorruption denied adding over N4 billion to the budget of Code of Conduct Bureau (CCB). The National Assembly was accused of padding the budget of the CCB with N4 billion in a report that linked the allegation to the trial of the Senate President, Dr. Bukola Saraki, before the Code of Conduct Tribunal (CCT). But the Chairman of the committee, Hon. Babajide Akinloye, refuted the allegation in a statement he issued in Lagos yesterday, noting that the National Assembly did not pad the budget of the CCB with over N4 billion. Akinloye, currently representing Eti-Osa Federal Constituency in Lagos, acknowledged that his committee “only rearranged the order and priority of the CCB at the request of the organisation.” He added that the CCB had during the budget defence informed the committee that the working environment for its staff was not conducive at its five different offices scattered around Abuja and that this acts as impediment to its efficiency. The committee chairman explained that after the 2015 budget, the CCB had returned over N230 million hitherto earmarked for the building of its head office in Abuja to the coffers of the federal government. But after due engagement with its management, Akinloye said

it was agreed that the CCB “can either continue with the Head office project or buy a building that will accommodate their operations for optimum service delivery in its anti-corruption drive.” Akinloye therefore explained that the agreement between the committee and the CCB management culminated in the inclusion of N4 billion for the CCB head office project in the budget sent to the President. He said linking the approval of the CCB head office project in the Budget passed by the National Assembly “to Saraki’s trial “is the highest act of blackmail and sheer falsehood against the National Assembly in whole and the House Committee on Anti-Corruption in particular.” He said the committee in its oversight responsibilities had engaged in robust interactions with other agencies such as the ICPC and the CCT corruption war “is supported with resources to achieve their statutory duties,” wondering why the CCB issue is raining dusts” He said while the executive “is mandated to prepare and lay before the National Assembly a proposed budget detailing projects to be executed, it should be made clear that the responsibility and power of appropriation rests with National Assembly. “In sound democracies, the Executive do not expect the Legislature to return the budget proposal, hook, line and sinker the way it was presented to the Assembly to it without any adjustments.

make the desired progress. The lawmaker who spoke when he played host to the people of Ezeagu Local Government Area of Enugu State who paid him a solidarity visit, said the Igbo people had made enormous contributions to the overall development and unity of Nigeria but sadly have not received commensurate attention. He said until the leadership of Nigeria has a rethink and respects Igbos, the country can never be the same. He noted that Ndigbo are being constantly provoked “by the government of this country. “Let me remind you that we are going through a difficult period in Igbo land. As Ndigbo, we are going through trying period, we are being provoked everyday by the government of this country in the way they treat our people especially the marginalisation going on at the federal level by the federal

As the 2016 Appropriation Bill continues to generate heated debate across the country, the Senate Committee Chairman on Culture and Tourism, Senator Matthew Urhoghide (Edo South), has warned that the Senate may be forced to veto President Muhammadu Buhari, if he refuses to assent to the bill-aspassedbytheNationalAssembly. He also accused Buhari of not reciprocating Senate President Bukola Saraki’s good gesture to him since the inauguration of the eighth National Assembly last year. In an exclusive interview with THISDAY in Abuja, the senator said in spite of the “wish-washy budget’’ President Buhari presented to the National Assembly, members worked day and night to get the 2016 budget passed. “Thebudgetcameinthisyear;evenin thefaceofprovocationandutterancesthat we are getting from the president, we all agreed to speedily pass the budget. And we decided to panel beat it and make it a substance for Nigerians; so that at least it

becomes an operational budget,’’ Senator Urhoghide stated. “With all the inadequacies in that budget, we worked tirelessly because the Senate President, Dr. Bukola Saraki, was bent on getting a substance out of the wish-washy budget. And we did pass it expeditiously; only for the President to say that he was going to check it - ministry by ministry, line by line, all the items -- to find out whether what we gave to him is what he sent to us. “We will be giving him rubbish if we had passed the same budget he sent to us because he brought rubbish to the National Assembly; but we have made substance out of the useless budget he sent to us, and we have sent it back to him.’’ Urhoghide, a close ally of the senate president, said it appeared as if Buhari didn’t even have an idea or read the budget he brought to the National Assembly. “President Buhari should have read through the budget before presenting it to the National Assembly to understand it; because all his aides, who manufactured

Nigeria will never be the same. So any person who thinks that Igbos will be relegated and there will be peace in this country is joking. We believe in equity, we believe in justice. “This country is big enough for everybody. Nigeria needs energy of Igbos, they need our creativity, they need the enterprise of Igboman and we can combine the attributes with the other nations and Nigeria will be great. So we will continue to work on this to ensure inclusiveness in the governance of this country. We will never accept the situation where Igbo people and indeed any tribes will be excluded from the governance of this country. “This country belongs to all of us. So it may be dark today but I want assure you that there will light at the end of the tunnel. We have already left Egypt and we will never go back to Egypt.

Definitely we will get to the promise land unlike the people of Israel all of us will be alive when we get to the promise land so am not shaking and don’t be afraid my people, we believe in this country, we believe in free enterprise, we believe in justice and we also believe in equity and that we ensure that this country will get. Earlier, the leader of the delegation and Caretaker Committee Chairman of Ezeagu Local Government Area, Hon. Chidi Ezinwa, appealed to Ekweremadu to remember their council in the scheme of things, lamenting that erosion menace had remained a major challenge to their people. He also urged the lawmaker to ensure that some road projects attracted to their area by a former member of the House of Representatives for Udi/Ezeagu Federal Constituency, Ogbuefi Ozomgbachi are not abandoned.

WHAT’S UP FOR SHAREHOLDERS

L-R: Executive Director, Transcorp Hotels Plc, Ms. Okaima Ohizua; Managing Director, Mr. Valentine Ozigbo; Chairman, O’tega Emerhor; and Company Secretary, Helen Iwuchukwu, at the second annual general meeting of Transcorp Hotels in Abuja .... Friday.

Budget Controversy: Senator Says Members Can Override Buhari Iyobosa Uwugiaren inAbuja

government. “We are also aware of the contributions of our people towards the development of this country. The Nigeria Movie Industry which is the major export we have, Igbo’s pioneer that industry, in sports Igbo’s are all over the world doing the country proud. When you see Nigeria national team playing, 80 percent most times are Igbos and we are happy to do that,” he said. Ekweremadu who said Ndigbo are more Nigerian than any tribe, disclosed that “All the remote villages in Kano, Kaduna, Maiduguri and everywhere you will see Igbos who are patent medical dealers, you will see Igbos selling plastic, you will see Igbos providing jobs not only to their people but to the rest of Nigeria.” He said Ndigbo has done so much to the country and deserve some respect, stressing that until “we get our respect

the 2016 budget didn’t do a good job. There were several repetitions of issues in the entire budget, a whole lot of bad descriptions. The narratives were all wrong; but we decided to make a substance out of it,’’ he added. The outspoken lawmaker said it was within the constitutional rights of the National Assembly to carry out a proper narrative of the budget in the interests of the people who elected them. On the ongoing trial of Saraki at the Code of Conduct Tribunal (CCT), the senator accused the Buhari-led executive of “persecuting’’ the Senate President for political reasons, describing the president as an ungrateful person. According to him, “If Saraki is not the senate president today, I can tell you he wouldn’t have been in the dock; he is in the dock because he is the senate president. But the unfortunate thing - why some of us are talking, is that this is the same person who had helped his party - the All Progressives Congress (APC) even on the floor of the Senate.”

Campaign to Remove NCAA DG Thickens Chinedu Eze There are indications that the federal government may begin to shop for a new Director General of the Nigerian Civil Aviation Authority (NCAA) following a groundswell campaign for the removal of the incumbent, Captain Usman Muhtar. This followed series of petitions written against him and submitted to the Ministry of Transportation, which alleged that Muhtar who was the former Commissioner of Accident Investigation Bureau (AIB) did not resign his appointment before taking up the appoint as the Director General of NCAA. It was also alleged that Muhtar has a very bitter workforce, having annulled training programmes, which are part of the key activities of the regulatory body and workers’ allowances and payment for training are either withdrawn or were delayed since he took over as Director General. THISDAY learnt that officials at the Ministry of Transportation had started investigation into the allegations, including the statement

that there were no documents besides letter of appointment in his office file, leaving a very scanty information about him. But the Director General who spoke with THISDAY yesterday dismissed the allegations and described those writing the petitions as mischievous. “All the things I have done are contained in my CV and since I started working, from being an instructor at the Nigerian College of Aviation Technology (NCAT), Zaria to when I worked with the Nigeria Airways Limited to working with a private company, Chanchangi Airlines, my age has not changed. I also worked with the Ministry of Aviation before I became the Commissioner of Accident Investigation Bureau (AIB) before I was appointed as the Director General of NCAA. “The appointment said that I was to move to NCAA; I didn’t have to resign. That was why I didn’t collect a kobo from AIB as entitlements when I left,” Muhtar said.

On the allegation of poor welfare of the NCAA staff and lack of training, he said Single Treasury Account policy has put a lot of bureaucracy in accessing the agency funds and currently NCAA has domiciliary account with the Central Bank of Nigeria (CBN), which is yet to explain the modalities for accessing money by the agency. He also said a new government policy had directed that only the technical training would be allowed to be done overseas; that all other trainings must be done in Nigeria, adding that the last official trips he made out of the country he funded them from his personal pocket. However, a source in the Ministry of Transportation said Muhtar’s failure to resign his appointment before coming to head NCAA contravened government regulations “to assume a political office without first resigning a previous civil service appointment on attaining the mandatory 35 years of service or 60 years of age whichever comes first.

MONDAY APRIL 18, 2016 • T H I S D AY

NEWSEXTRA

APC: Timi Frank Disagrees with Oyegun on Saraki’s Trial Says he has been vindicated on crisis in the party

Onyebuchi Ezigbo in Abuja The Deputy National Publicity Secretary of the All Progressives Congress (APC), Timi Frank, has described the position of the National Chairman of the party, Chief John Odigie Oyegun, on the trial of the Senate President, Senator Bukola Saraki, as a personal opinion and not that of the party. Frank who was reacting to a comment made by Oyegun in a recent interview that the party’s position is that Saraki’s trial at the Code of Conduct Tribunal (CCT) must continue, said there was never a meeting of the party where such a decision was taken to abandon the senate president to his fate. In a statement issued yesterday, Frank said Oyegun’s assertions had again vindicated his position on the crisis rocking the party, which might finally put to rest the doubt that all is not well within the APC. “That the chairman of the ruling party will grant an interview on his personal opinion and assert it to be the decision of the party, can at best be described as unfortunate and a carefully mapped out plan to rubbish the current trial of the senate president. “It is on record that there hasn’t been any NEC , NWC , BoT or caucus meeting of the party were such decision was taking to abandon the senate president to his fate. This move undoubtedly proves once more, that the Chairman is acting on an already prepared script to incarcerate and make the Senate President pay for his disobedience for not adhering to the party’s decision in contesting for the seat of the senate presidency,” he said. The deputy spokesman also said Oyegun’s apparent biased position on the prosecution of Saraki has lent support to the insinuations that the trial could be politically motivated. “The chairman’s position on

the current travails of the senate president in the CCT, is a clear indication that the APC under Oyegun has spoken the minds of all those, that were in doubt that the persecution of the senate president is and may be politically-motivated. “Instead of allowing the court to take its course in finding the senate president guilty, having utilised his fundamental rights as enshrined in our constitution of the legality of his trial at the tribunal, one would have wondered the hurry in Oyegun’s assertions. “Having said therefore, wouldn’t it bemostinappropriatefortheChairman of the ruling party to allow for the trial to commence and for the court to conclude on its findings before hurriedly confirming the position of the party or the president in justifying the current travails of the senate president as his sole cross to bear. “This supposedly hurried speech is another confirmation that an already prepared script is in the offing by those who will stop at nothing in seeing that the senate president is used as the scapegoat of the anti-corruption war of this administration. This may very well be in the offing since the senate president won the seat into the upper legislative chamber, which was seen as a move against the party ab initio. “The chairman must be reminded of the role played by Senator Saraki in the emergence of the ruling party and if Oyegun in all honesty believes that Senator Saraki should be the scapegoat for the ruling party, owing to his confirmation of bias in the ongoing trial of the senate president, then indeed the chairman has to be reminded that history has its way of repeating itself and reminding those who take it for granted when it beckons. On his Oyegun’s assertion that he (Frank) is unable to discharge his functions as the party spokesman

UK Expresses Support for Buhari’s Anti-graft War The United Kingdom is fully behind President Muhammadu Buhari in the ongoing efforts by his administration to rid Nigeria of corruption, Mr. Nick Hurd, the UK Minister for International Development, has said. Hurd told the News Agency of Nigeria (NAN) in Abuja yesterday that fighting corruption was critical to transforming Nigeria’s future. “We have been very active in supporting President Buhari`s campaign against corruption in Nigeria and we think it is fundamental to transform the future of the country. “We fully support priorities that the President has given to tackling corruption in Nigeria. “We feel that corruption is absolutely the right priority and we want to support him in that, “ he said. The minister urged the federal government to focus on public sector reforms aimed at making corruption unattractive to workers and the general public. He pointed out that there was so much workers in the public sector could do to reduce corruption through effective accounting systems.

Hurd said his country was working with the federal government and the civil society organisations on attitudinal change in the Nigerian society. “We think corruption holds Nigeria back and for every pound that is taken out of the public system through corruption, is a pound that could be spent educating children. “It is a pound that could be spent educating girls and developing the health system that the country can be proud of. “That is the kind of attitude that we would like to encourage and, therefore, we support the President in that, “ he said. Hurd said the UK Prime Minister David Cameron, like President Buhari, is also passionate to rid his country of corruption. “Which is why next month, he (Cameron) is holding an anticorruption summit in London and we very much hope that Nigeria will be well represented in that conference. “The conference will bring together world leaders to discuss corruption and their plans to tackle it in their countries; so corruption is a very big issue for us, “ he said.

because of various interests, the estranged deputy spokesman said such confession only goes to further emphasis “my earlier claims that indeed the party is divided within itself. “That the seat of the party

spokesman is zoned to the Northcentral zone, because of the vacuum created by Lai Mohammed, is laughable as the party constitution itself is clear in the event of a vacuum created by the exit of a substantive officer.

“The lack of respect to the party’s constitution as well as the total disregard of the rule of law in the APC is the sole monster lurking to cause disharmony and disaffection amongst party faithful. The various complaints from several state chapters

and the turning of deaf ears by the party Chairman is an indication that the chairman is rather busy with being the spokesman of the Party instead of focusing of purposeful leadership in steering the ship of our great party,” he said.

SECURITY MATTERS

L-R: Commander, Nigeria Navy Ship Beecroft, Apapa, Navy Commodore Abraham Adaji; Secretary to the Lagos State Government, Mr. Tunji Bello; Commissioner of Police, Mr. Fatai Owoseni; Commanding Officer, 9 Mechanised Brigade, Brigadier General Bulama Biu; Director, Department of State Security Service, Mr. Adekunle Ajanuku and Commander, Air Force Base, Ikeja, Air Commodore Paul Masiyer. addressing journalists shortly after the State Security Council meeting, at the Lagos House, Ikeja...weekend

Obey Buhari’s Directive on Sacked VCs, Group Tells Education Minister

ASUU Decries Cut in Allocations to Federal Universities

Ugo Aliogo

Michael Olugbode inMaiduguri withagencyreport

A group, Concerned Citizens for Educational Development, has asked the Minister of Education, Mallam Adamu Adamu, to comply with the presidential directives on the recall of the 13 vice-chancellors of some federal universities whose appointments were wrongfully terminated by the federal government last February. The group in a statement in Abuja at the weekend, expressed concerns that despite President Muhammadu Buhari’s public apology for the wrongful dissolution of the governing boards of the affected universities, which preceded the sack of the vice-chancellors and the directive that the affected university dons should be recalled, the order is yet to be complied with by the minister. It said: “We are however dismayed and befuddled that the Minister of Education - who is an appointee of the president - has chosen to misinterpret the President’s statement and turned a deaf ear to the directive by Mr. President that the whole imbroglio of sack/removal and replacement/ appointment be reversed,” noting that, “This is quite unhealthy for our educational system and the apparatchik of governance as a whole.” According to it, “Adamu has unwittingly usurped the powers of the Visitor to all federal universities by his tacit refusal to reverse his missteps. To this extent, the minister must be called to order and compelled to do things in the right manner to wit; recalling the

sacked vice chancellors since he also made the decision unilaterally,” the group said. The group recalled that, most of the affected vice chancellors etched their names in gold as heroes of our thriving democracy while serving as returning officers in the 2015 general election. It is to the credit of the affected university vice chancellors, according to the group, that the dons refused to compromise and rig the 2015 general elections, the dividend of which, we all Nigerians now enjoy, stressing that, “As such these patriots should not be mistreated with such actions as have been meted against them by the Minister of Education.” The group expressed hope that the universities must not be treated as what they described as, “A fiefdom of political compensation where autocracy prevails, then Mr. President’s stand - that vice chancellors cannot be removed or appointed without recourse to the governing council - ought to be implemented in its entirety.” In conclusion, they called on the Minister of Education to refrain forthwith from flouting the good intentions of Mr. President for our educational system, demanding that, “He should in consonance and obedient compliance to Mr. President immediately recall the hitherto sacked vice chancellors. Anything to the contrary will be seen as brazen contempt for Mr. President and also an attempt to introduce autocracy and politicking into our universities in an era when autonomy and merit should be the prevailing order.”

The Academic Staff Union of Universities (ASUU), Abuja Zone, has expressed displeasure over cut in allocation for personnel expenditure to federal universities by the federal government. ASUU, Abuja Zonal Coordinator, Prof. Suleiman Muhammed, who briefed journalists yesterday in Abuja, said the cut had adversely affected the union. Mohammed, according to the News Agency of Nigeria (NAN), said ASUU, Abuja Zone comprised University of Abuja, Federal University of Technology, Minna, Nasarawa State University, Keffi and Ibrahim Babangida University, Lapai. He said relevant authorities like the Federal Ministry of Finance and Budget Office seemed not to understand how the university system worked. “With deeply worrisome concerns, ASUU-Abuja Zone wishes to bring to the notice of the general public the unilateral drastic cut by the Federal Government of Nigeria in the personnel expenditure allocations to federal universities across the country. “This ugly phenomenon began in December 2015; one of the federal universities which received allocation of a little over N336 million in December 2015, has consistently received about N308 million for the months of January through March, 2016,’’ he said. The coordinator said it was wrong for the federal government to implement unilateral pay-cut in

university workers’ salaries being a signatory to most International Labour Organisation (ILO) conventions. He expressed concern that state governments, the proprietors of state universities, were waiting to copy the federal government, adding that this could lead to breakdown in industrial harmony across all public universities. Muhammed said for industrial harmony within the university system, ASUU members should have their salaries and allowances paid in full and not in percentages. Also, the Vice Chancellor of University of Maiduguri, Prof. Ibrahim Njodi, said poor funding of Nigerian universities was responsible for their low global ranking. Speaking during the 22nd convocation and 40th anniversary of the institution, the vice-chancellor lamented that poor funding has allowed for abysmal infrastructure in the educational sector in the country. He claimed that Nigerian university system has suffered from inadequate funding in the last three decades, which is generally reflected in poor facilities for teaching, learning and research. He said the inadequate funding has also affected the ability of the universities to meet the demands of staff and students for improved welfare leading to strikes by staff unions. He said: “The implications of poor funding are reflected in the current abysmal infrastructure in the system and the poor ranking of Nigerian universities in Africa and the world.

MONDAY APRIL 18, 2016 • T H I S D AY

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IPOB Wants S’East, S’South to Back out of Grazing Commission Bill Emmanuel Ugwu in in Umuahia The Indigenous People of Biafra (IPOB) has alerted the National Assembly members from the South-east and South-south zones on the grave danger in supporting the bill on grazing commission, saying that it portends bad omen for the two zones. In a statement issued by its Head of Media and Publicity, Emma Powerful, IPOB said urged lawmakers from the two zones to back out from supporting the bill as it represents another means of “bringing invaders to our land” in the guise of setting up grazing reserves.

The separatist organisation specifically upbraided the National Assembly members from South-east and South-south for supporting the bill, which if passed into law would turn out to haunt them and the people they represent. Though the grazing commission bill sponsored by Senator Zainab Kure from Niger State has sailed through second reading, it has continued to generate controversy. For instance, the pan Yoruba socio-political group, Afenifere, has rejected it, describing it as obnoxious while Ondo State Governor, Dr. Olusegun Mimiko, reportedly said the bill, if passed

into law, would be unworkable. IPOB said it was baffled that members of National Assembly from South-east and South-south have apparently failed to read between the lines and see the bill for what it is: a tool for dispossession of people’s lands, and have allowed themselves to be used to achieve that goal. According to IPOB, the fact that the bill had passed through second reading meant that the federal lawmakers from the South-east and South-south were only serving their selfish interests and legislating for the interest of the people they represent. “We in IPOB are warning them

that this is a systematic way of bringing the invaders to our land and they are coming to Islamise us, the children of Chukwu Okike Abiama, God Almighty,” IPOB said in the statement. It also warned governors of South-east and South-south “to tread with caution because we don’t have places to use as Fulani

ranch” adding that any governor that goes ahead to allocate land for grazing “will bear the consequences and posterity will never forgive those who sabotaged his or her people.” IPOB argued that the northern part of the Nigeria has enough land mass to accommodate grazing reserves and governors

from the northern states should provide the lands for the ranches. Citing Argentina and Australia that rank as the highest producers of cows in the world, IPOB said the north should emulate the efficient manner they manage their ranches without ravaging farmlands and causing problems with farmers.

Anti-Saraki Forces Mobilise Ex-Student Leaders for Protest March Some politicians opposed to Senate President, Dr. Abubakar Bukola Saraki, at the weekend intensified their plots to put pressure on the former Governor of Kwara State and compelled him to resign from office. Sources in Kaduna and Lagos disclosed that the politicians after failing to get credible civil society organisations and organised pressure groups to spearhead an anti-Saraki protests, have now shifted focus to some ex-student union leaders who they believe can mobilise students for mass rallies and demonstrations against the Senate President. It was gathered that the group of politicians at the weekend had a meeting with 16 ex-student union leaders where the strategy and logistics on how to successfully hold anti-Saraki rallies were discussed. The former student union leaders were assured of adequate financial support and compensation as well as provision of other logistic support like vests, placards and vehicles to facilitate the rallies. The protest marches were scheduled to take place in Lagos, Abuja and Kaduna

simultaneously. “They were assured that police permit and security guarantee will be provided so that the ex-students could swing into action and time the commencement of the protests to Monday when the Saraki case at the Code of Conduct Tribunal will resume. “The student leaders were instructed to anchor their messages for demanding Saraki’s exit from the Senate Presidency on many issues, including the CCT case, the Panama Papers, the delay in passage of 2016 budget and need to get the Senate to support the presidency. “In their plan, when you load the messages, you will allow different members of the public to choose whichever message resonate with them. The plan is to bombard the Senate President and ensure that they give him a heavy push to see if he will fall”, the source said. When contacted, Saraki’s Special Adviser on Media and Publicity, Yusuph Olaniyonu, confirmed that he had been reliably informed that after the alarm raised by his office frustrated similar efforts last week, there are new plots to create chaos

and confusion in a bid to force the Senate President out of office. “Last week we alerted members of the public about this constant plot by those who feel they can achieve through the back door what they failed to achieve on the floor of the Senate. They are merely trying to create public disorder and short-circuit the on-going judicial process. As far as we are concerned, the Senate President has not been found guilty by any competent court of law and he enjoys overwhelming support of a large majority of the Senators. To that end, he is not going to be stampeded out of office by those who sponsored candidates for the office last year and lost”, Olaniyonu added.

50 HEARTY CHEERS

L-R: President, Nigerian Bar Association (NBA), Mr. Augustine Alegeh (SAN), and Principal Partner, Dele Oye and Associates, Mr. Dele Oye, at a party organised by senior lawyers to mark Oye;s 50th birthday in Abuja...recently

OPEC, NON-OPEC DEAL FACES FRESH HURDLE OVER SAUDI, IRAN TENSIONS

of President Muhammadu Buhari to assess the extent of damage to the facility. Pipeline vandals attacked the a major Forcados pipeline last February, in the process, cutting off production of an estimated 250,000 barrels of crude oil per day (bpd). The damage to the pipeline has also led to a 50 per FCT Minister for Novare Gateway cent drop in electricity output, as gas supply to thermal power Mall’s Groundbreaking Ceremony stations has been constrained since the pipeline was vandalised. Today Osinbajo said Buhari was very concerned about the damage done to the pipeline in February The Minister of the Federal Capital with the mall. It noted that the mall is funded and asked had him to visit and Territory (FCT), Alhaji Mohammed Bello, will tomorrow lay the by the Novare Africa Property assess the situation which he said foundation of the new Novare Fund I and II and financed by was responsible for the recent Stanbic IBTC, while Monterosa drop in electricity supply in the Gateway Mall in Abuja. This mall, which is currently Construction Limited, also country. The vice-president said: “There valued at $68,000,000, sits on an responsible for the Novare Mall in 18,000m2 expanse of land and Lekki, Lagos, had been appointed are efforts being made by the as the lead construction company federal and state governments includes 589 parking bays. as well as communities to tackle According to a statement issued for the project. Other professional teams current vandalism challenges,” by the developers of the project, the development of the mall would be on the project include Kenna adding that government was undertaken in two phases and the Partners, Stauch Vorster, Aurecon, also looking beyond the present situation into what could be done second phase of the development and Best Africa. The mall according to in the future. is poised to increase the lettable According to him, one of the statement, is the third area of the mall by 10,000m2. Set to open its doors in April development project undertaken the future steps the Buhari 2017, anchor tenants in the new by Novare Real Estate Africa. administration could take to Novare Gateway Mall will include Other mall projects in its portfolio forestall vandalism is to establish Shoprite, and the Genesis Deluxe include the Novare Apo Mall, a permanent pipeline security Abuja and the Novare Mall Lekki, force. Cinema, among others. He said such a force, if The statement added that the Lagos which is set to open on formed, “would be armed with management of the mall was June 30, 2016. The occasion would be chaired sophisticated weapons to ensure already in talks with a number of blue chip companies in a bid by the Chairman of the Novare we contain the vandalism and to guarantee an excellent and Gateway Mall, Professor Fabian overhaul security.” He said a permanent pipeline sophisticated mix of retailers Ajogwu (SAN).

security force was an option to look at. Concerned about both the loss of gas supply to power plants in the country and the significant loss of potential revenue arising from the damaged Forcados export terminal, Osinbajo called for the quick repair of the pipeline operated by Shell and the activation of an alternative process to ameliorate the gas supply deficit. Osinbajo said the president called on Shell to speedily complete its gas development projects in order to increase domestic gas supply in the country. Osinbajo who met with top officials of Shell and the Nigerian National Petroleum Coporation (NNPC) during the visit, told the officials that the destruction of the pipeline affects the Nigerian people and the economy. “The damage done to Forcados affects not only our oil earnings but also as important is the power aspect. It (Forcados) is a major source of gas, about 40 per cent of our gas supply is affected leading to the problem of power supply in the country,” Osinbajo told Shell’s country Chairman, Mr. Osagie Okunbor and NNPC, Chief Operating Officer, Upstream, Mr. Bello Rabiu. The vice president reminded them that power supply last January peaked at an unprecedented 5000MW, but

has since dropped significantly including instances of system collapses, showing that this was a real problem. While expressing satisfaction over the plans by Shell and NNPC to repair the pipeline, Osinabjo asked Shell to do whatever else could be done and do it as expeditiously as possible to repair the damaged pipeling. A repair plan presented to the vice president during the visit by Shell indicated that the first phase of repair works was almost completed with expectations that the outstanding two phases would be concluded by May. NNPC has also presented an interim alternative plan to supply gas to the power stations including trucking condensate. Rabiu, however, conveyed the concern of the federal government that international oil companies (IOCs) that sit on up tp 80 per cent of gas deposits in the country have not been as forthcoming regarding gas supply to the domestic market. “Even if it is as a matter of public service,” Osinbajo encouraged the IOCs to do a lot more to meet their domestic gas supply obligation, stressing: “We are clearly suffering in terms of domestic supply.” He further stressed on the need for Shell to speedily complete the Bonga and Forcados/Yokri gas projects in order to assuage the

plight of the Nigerian people. According to him, “The president is particularly concerned about this outstanding gas projects.” The Bonga Gas Diversion project would provide 120mmscf/d when completed by the second quarter of this year, while the Forcados/Yokri gas project would provide 80mmscf/d on completion expected at the same time. There is also the Assa North/ Ohaji South project which can provide 500mmscf/d. Experts say currently, gas supply to domestic market has fallen to 601million standard cubic feet per day (mmscf/d) from usual 1.1 billion standard cubic feet per day (bcf/d). The implication is that the country is now losing about half a billion cubic feet of gas a day, which roughly accounts for about 2000MW of electricity. Also commenting, the Delta State Governor, Ifeanyi Okowa, who accompanied the vicepresident all through the visit, lamented that “the Forcados terminal is important to Delta State and the nation”. “That is where SPDC (Shell Petroleum Development Company) evacuates its crude oil and carries out other land operations including Seplat evacuating crude oil from there for export. Now all the production on land by SPDC has been hampered,” he said.

MONDAY APRIL 18, 2016 • T H I S D AY

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Order Military to Treat Fulani Herdsmen as Terrorists, HURIWA Challenges Buhari Adedayo Akinwale inAbuja The Human Rights Writers Association of Nigeria (HURIWA) has faulted the continued silence by President Muhammadu Buhari on the wanton killings by Fulani herdsmen terrorising farming communities across Nigeria. The group called on him to give clear directives to armed security operatives to treat them as terrorists. The National Coordinator of the group, Mr. Emmanuel Onwubiko, disclosed this in a statement issued yesterday in Abuja. According to him: “HURIWA is demanding the removal of the Director General of the Department of State Services (DSS), Alhaji Lawal Musa Daura, for turning that national security institution to an exclusive protection and propaganda wing of the armed Fulani herdsmen responsible for mass killings across the country.” He added: “The conspiratorial silence of the DSS concerning the genocide by armed Fulani herdsmen in Agatu community of Benue State and many others including Taraba, Plateau, Delta, Enugu, Anambra and Edo States and the rapidity of the unscientific and provocative statement made by the Department of State Services to claim that members of the Indigenous People of Biafra (IPOB) slaughtered the 5 kidnapped Fulani herdsmen even without any forensic evidence has clearly depicted the current hierarchy of DSS as sectional and myopic and therefore should be dismissed for lacking professionalism and for attempting to ignite ethnic genocide against Igbo residing

in the northern part of Nigeria.” The rights group also demanded that the president addresses the nation in a national broadcast to comprehensively disclose workable measures to reform the Independent National Electoral Commission (INEC) to make it truly independent and impartial. Onwubiko added: “It is imperative that the electoral body becomes truly independent and autonomous and stop the current undemocratic role of an undertaker put in place by the powers that be in Abuja to dictate to it which trends and positions to adopt and who should be returned conclusively elected.” HURIWA however called on the National Assembly to compel the INEC to immediately organise a rerun poll in Okigwe senatorial zone to enable the people elect their representative in the Senate of the Federal Republic of Nigeria The national coordinator stressed that it was unbecoming of a body supposedly said to be independent “to act in criminal collusion with some forces bent on denying the people of Nigeria their democratic and constitutional rights to elect Nigerians of their choice to govern them.” “The people of Okigwe Zone came out in the general elections of March, 2015 and gave their mandate to Chief Athan Nneji Achonnuwho ran on the platform of the People’s Democratic Party (PDP). “The results of the election was challenged by the other candidates who filed petitions before the election tribunal... “While the APGA candidate withdrew his petition, the APC candidate lost at the Tribunal and at the Court of

World Theatre Day: Thespian Family Theatre Honours Veterans Sunday Okobi One of the Nigerian leading theatre production companies, Thespian Family Theatre and Productions (TFT), has honoured veteran theatre practitioners for their unrelenting efforts in promoting theatre arts and entertainment in Nigeria. The veterans, who were honoured at an event in Lagos recently, were Nigerian matriarch of theatre, Taiwo Ajai-Lycett; Poet, Odia Ofeimun; acclaimed theatre practitioner and former General Secretary of the Association of Nigerian Authors (ANA) and distinguished Professor of Theatre Arts, Kwara State University and the first African to be awarded the prestigious Thalia Prize by the International Association of Theatre Critics (IATC), Professor Femi Osofisan. Also honoured were former Artistic Director of the National Troupe, Professor Bayo Oduneye; prolific Director and theatre teacher, Jahman Anikulapo; acclaimed writer, journalist, culture activist, actor, trainer and Chairman of the Committee for Relevant Arts (CORA), Ben Tomoloju. Tomoloju also doubles as a veteran journalist, playwright and Theatre Director who directed Ayo Jaiyesimi’s ITAN.

At the ceremony, the participants and other theatre lovers were thrilled to Ayo Jaiyesimi’s ÌTÀN stage play which was a rich blend of cultural and contemporary drama, music and dance, capturing the modern day relational tension between different generations. The resounding message of ‘the oneness of man’ was excitingly projected and very well received by the audience at the shows that had earlier been staged at the Lagos Theatre Festival 2016 and then recently, at MUSON Centre in Lagos. Speaking at the event, founder of Thespian Family Theatre and Productions, Jaiyesimi, commended the veterans for the exemplary standards that they had set. She also applauded the cast and technical crew of ÌTÀN (the story) stage play which thrilled theatre lovers through the shows from February to March. According to her, “Theatre is part of Nigeria’s entertainment roots. It allows us to showcase our culture and amazing talents such as the actors that performed and the veterans who did not give up on the industry. I envision the Nigerian theatre industry being recognised globally for its originality and talent base in the next few years.”

Appeal. However, the Tribunal and the Court of Appeal nullified the election based on the petition of the Accord Party candidate whose

petition was hinged on the exclusion of her party’s logo form the ballot paper.” The rights group however

blamed INEC over what it termed the “unnecessary bloodshed” that occurred during the recent rerun election in Rivers State even as it

accused INEC of undermining democracy in Imo State by refusing to conduct election in Okigwe Senatorial zone

MARKING 30 REMARKABLE YEARS

L-R: President, University of Lagos Muslim Alumni (UMA), Mr. Akeeb Sola Oladokun; Chairman, Organising Committee, Alhaji Mumini Alao; and Special Guest of honour and Emir of Kano,Muhammad Sanusi II, during a lecture to mark the 30th anniversary of the alumni, with theme: Strategies for a Sustainable Economy and N150 million scholarship endowment fund, in Lagos....yesterday Kola Olasupo

NLC, FALANA, CSOS CONDEMN SENATE OVER ATTEMPT TO AMEND CCB/CCT ACT that the proposed amendment was designed to serve the interests of an individual, it was a violation of section 4(2) of the 1999 Constitution which empowered the National Assembly “to make laws for the peace, order and good government of the Federation or any part thereof...” He said the whole exercise is a clear violation of paragraph 1 of the Code of Conduct for Public Officers enshrined in Part 1 of the Fifth Schedule to the Constitution. He thus said section 3 of the Act which the National Assembly seeks to amend “has become spent… section 3 of the Act is in pari materia with Paragraph 3(e) of Part 1 of the Third Schedule to the Constitution. To that extent, section 3 of the Act is inoperative and invalid in every material particular.” The senior advocate also cited a Supreme Court judgment stating that where the provision in the Act “is within the legislative powers of the National Assembly, but the Constitution is found to have already made the same or similar provision, then the new provision will be regarded as invalid for duplication and or inconsistency and therefore inoperative. “The same fate will befall any provision of the Act which seeks to enlarge, curtail or alter any existing provision of the Constitution. The provision or provisions will be treated as unconstitutional and therefore null and void.” He therefore asked the National Assembly to stop subverting the obligation of the federal government under the leadership of President Muhammadu Buhari “to abolish all corrupt practices and abuse of power” having been sworn in to preserve the Fundamental Objectives and Directive Principles

of State Policy contained in the Constitution. He said since the Constitution “has prohibited the enactment of ex post facto laws in circumstances of this nature, the National Assembly ought to know that the ongoing moves to amend the Act cannot have any effect on the celebrated trial of the senate president.” Also FGAI condemned in strong terms the sudden move by the Senate to amend CCB and CCT Acts, describing it as ill-timed and ill-motivated. FGAI in a statement by its Executive Director, Mr. George Oji, condemned the speed at which the Senate is pursuing the amendment, describing it as suspect and worrisome. According to Oji, the amendment fails all known basic moral tests, noting that it is very unusual for a bill to be laid before the Senate and taken through the second reading and simultaneously committed to the committee stage within a week. He also expressed concern over the haste to pass the bill by the Senate, observing that the Senate Committee on Judiciary and Human Rights was given just two weeks to conclude work on it and return it to the Senate for passage. He added: “It is expected that when debate on the second bill commences this week, the process will not assume no less an accelerated approach. “Clearly, the intention of the two bills is to whittle down the powers of both the CCB and CCT. No doubt, coming at a time like this, when the Senate President, Bukola Saraki, is currently facing trial before the CCT over allegations of false assets declaration and money laundering, raises a lot of suspicion about the sincerity of the lawmakers that the amendment has nothing to do with

the Senate President’s trial. “Considering their antecedents in lawmaking, it will be hard put for the Senate to explain to Nigerians that the amendment is not selfserving. It is wrong to legislate in anger. Legislations must not only be altruistic but futuristic. It is unfortunate that the Senate has not accorded the same kind of urgency it is currently doing in the amendment of the CCB and CCT Acts to timely initiation of legislations to support the Buhari administration’s resolve in stamping out corruption in the country,” Oji said. Meanwhile, Socio-Economic Rights and Accountability Project (SERAP), has petitioned Professor Philip Alston, UN Special Rapporteur on Extreme Poverty and Human Rights asking him to request the National Assembly of Nigeria, specifically the Senate, to withdraw amendments to the CCB and CCT Act. SERAP said if the amendments are allowed to scale through, it would seriously weaken the act, undermine the fight against corruption in the country, exacerbate extreme poverty and violations of internationally recognised human rights. In the petition dated April 15, 2016 and signed by it Executive Director, Adetokunbo Mumuni, the organisation expressed serious concern that the Senate would any moment from now pass amendments to Public Officers Protection Act; Administration of Criminal Justice Act; Code of CCB and the CCT Act with the political objective of securing a soft-landing for the Senate President Bukola Saraki who is facing corruption charges. The petition copied to Mr. Zeid Ra’ad Al Hussein, UN High Commissioner for Human Rights

and the Conference of States Parties to the UN Convention against Corruption read in part: “SERAP considers these amendments to be in bad faith, patently an abuse of legislative powers, politically biased, and demonstrably unjustified in a democratic and representative society governed by the rule of law, and incompatible with the country’s international human rights obligations and commitments particularly the UN Convention against Corruption, the International Covenant on Civil and Political Rights, the International Covenant on Economic, Social and Cultural Rights, and the African Charter on Human and Peoples’ Rights, which Nigeria has ratified. “SERAP also considers the amendments to amount to “legislative rascality”, as they are not legitimate exercise of legislative power, and if allowed can exacerbate extreme poverty and violations of the right to an adequate standard of living of Nigerians and other human rights. “The amendments also threaten the injunction that government must be accountable, responsive and open; that public institutions must not only be held to account but must also be governed by high standards of ethics, efficiency and must use public resources in an effective manner. “SERAP is concerned that while deserving bills have been left to languish at the bottom of their legislative programmes, the Nigerian Senate has fast-tracked the passing of these obnoxious amendments. The drafters of the constitution would not have foreseen that the Senate would use its legislative power to encourage corruption and to undermine rather than advance constitutional guarantees and principles.”

MONDAY APRIL 18, 2016 • T H I S D AY

CRIME&PUNISHMENT

Lagos Vows to Go Tough on Commercial Motorcyclits’ Restriction, Street Trading Task force arrests notorious kingpin, 15 others

Chiemelie Ezeobi The Lagos State Government at the weekend said it would henceforth strictly enforce the extant laws in the state especially those bordering on environmental offences and restriction of operation of commercial motorcycles, popularly called Okada in certain routes as well as street trading. Rising from the monthly security council meeting involving heads of all security agencies in the state chaired by Governor Akinwunmi Ambode, the government urged residents to willfully comply with the extant laws in the state to make the enforcement of the law easier. Briefing Government House correspondents on the outcome of the meeting, the state Commissioner of Police, Mr. Fatai Owoseni, urged the public to desist from patronizing traders especially where street trading is not allowed. Owoseni also counselled Lagosians to stop patronizing commercial motorcyclists, popularly known as Okada operators on routes where the law restricts them from plying. Owoseni, who briefed journalists alongside heads of the Army, Navy, Airforce and other security agencies in state, said: “The council appraised the security situation in the state and looked at the challenges we are still having and from discussions and conclusions that were made, the council agreed that lot of progress had been made. “We have covered lot of miles regarding security and safety in the state. For now, the State is relatively peaceful.

“We want to sustain that tempo; we want to improve on that tempo. We have looked at those areas we need to improve upon and basically those were the issues the council considered,” Owoseni said. When asked on the directive by Ambode at the Town Hall Meeting in Ikorodu last week that Okada should not ply Mile 12-Ikorodu route, the commissioner said: “Yes, we deliberated on that and I can tell you that we specifically considered the need to improve on enforcement of the laws of the state, especially the areas where we have been having challenges with members of the public with regard to enforcement. “Specifically, I’m talking about the street trading, the restriction of commercial motorcyclists to certain areas. You see, there is need to have the buy-in of members of the public in all these and the Council considered the need for us to still tell the citizens that in as much as we want to enforce, there is also need for members of the public to willfully comply with extant laws of the State. “When they comply and conform to the laws, it will be easier for security agencies to enforce. Where the law says there should not be street trading, people should not patronize street traders; where the law says Okada should not ply certain routes, people should not patronize commercial motorcyclists in those areas. “But most importantly, as the security council has always emphasized, there is need for everyone to be security conscious and raise awareness about security

Unidentified Cultists Shoot, Butcher Man in Lagos Rebecca Ejifoma For reasons yet to be ascertained, some unidentified cultists at the weekend, shot and butchered a young man identified as Lekan Eje, at Olufiditi area of Alaba-Oro, Ojo Road, Lagos State. The deceased was left in a pool of his blood in front of a confectionery shop, where some hoodlums sit out to smoke daily. When THISDAY visited the scene, the deceased had a bullet wound and very deep machete cuts behind his neck and face. Although he was later rushed to Joe MC, which was the nearest hospital on Alaba road, Eje died few minutes later from the severity of the wounds he sustained. According to an eyewitness account, when the cultists first stormed the street at about 7.20pm, they had released some gunshots, which scared away the residents as intended, before they zeroed in on Eje. It was gathered that one of the gang members, shielding his face with a hood, had approached Eje and held him by the collar, shouting that he was the one they wanted. When some of the street

urchins attempted to mediate, another gang member walked up and shot in the air, thus scattering the crowd. Some minutes later, when the gang had left, the residents came out from their hiding places and found Eje lying almost lifelessly on the ground. Speaking on account of anonymity, one of the residents who found his body said, “When everywhere was calm again, we all thought they had taken the guy with them. “But as I was going back to the shop, I saw a body and with the help of the torch on my phone touch, I saw the whitish substance in his neck with so much blood. “I called for help and he was miraculously alive. He was rushed to the nearest hospital, which is just three minutes away from the scene. “At the hospital, Eje who is married with a son, struggled for his life but passed on minutes later. His wife has been devastated. “ THISDAY also gathered that the police stormed the street afterwards to raid some possible suspects, even as the deceased was taken to Amukoko graveyard for burial.

in their surroundings,” Owoseni said. Meanwhile, the Lagos State Environmental Sanitation and Special Offences Unit has arrested notorious kingpin, one Tunde Aigboje, popularly called ‘tallest’ and his 15 other gang members who usually terrorise residents and motorists around Gbagada and Oworonshoki area of the state.

Confirming the arrests, the spokesman of task force, Adebayo Taofiq, said the suspects were picked up during an operation at Gbagada aimed at clearing all illegal shanties constructed around dumpsites by these hoodlums and miscreants.

He said the operation was carried out after serving due notice as requested by the law but met stiff resistance from the hoodlums and miscreants. He said the hoodlums, who attacked the policemen attached to the task force and paramilitary personnel with cutlasses, guns and other lethal weapons, also injured an officer, Mr. Duncan Daniel. The victim, who had his five fingers decimated with bottles and cutlass, was rushed to Lagos State General Hospital Emergency Unit at tollgate. He was however referred to the National Orthopedic Hospital, Igbobi for urgent surgery on his

left hand. The task force led by Olayinka Egbeyemi, a Superintendent of Police, said it acted on petitions from residents of Gbagada and Oworonshoki who revealed that the hoodlums use the dumpsite as a hideout from where they carried out criminal activities at night by robbing presidents. Taofiq said with the “Light up Lagos Initiative, there is no more hide out for criminals as everywhere including under bridges have been illuminated. “The agency hereby enjoined members of the public to report immediately if they notice any strange moves around their

vicinity.” In another development, the taskforce said it has impounded more than 85 private and commercial vehicles, including 19 motorcycles at Club Road, Ikoyi, for illegal parking causing traffic obstructions around the area. He said: “These 19 motorcycles were impounded for plying restricted routes around Ikoyi area, while the officials of task force demolished 15 illegal shanties. “It is hereby issued that every security personnel across the state must comply with the Lagos State Traffic Laws of 2012 or have his or her vehicles or motorcycles impounded.”

ALL HOPE IS NOT LOST

Governor of Borno State, Kashim Shettima, consoling parents of the 219 abducted schoolgirls, at a ceremony at the Government Secondary School, Chibok, which was scene of the April 14, 2014 attack to commemorate the second anniversary of the abduction, in Maiduguri... recently

Pipeline Vandals Evade Arrest as Navy Storms Atlas Cove Chiemelie Ezeobi A gang of pipeline vandals at the weekend evaded arrest when they jumped ship when personnel of the Nigerian Navy Ship (NNS), Beecroft, stormed the notorious hideout of the vandals at Atlas Cove. Although all the seven suspects successfully escaped, the naval operatives however impounded their wooden boat and recovered 27 jerry cans loaded with stolen petroleum products. The vandals who were heading to an unknown destination in their boat had on sighting the navy, turned and headed for the shore before they jumped into the water to escape. Led by NNS Beecroft Commander, Commodore Abraham Adaji, the operatives also carried out operations at Ilado, Akaraba, Robot, Ilashe and Abule Glass villages, between

Takwa Bay and Badagry creeks. Adaji who reiterated the navy’s determination to rid the nation’s waterways of oil thieves and vandals, said all measures were being explored to ensure the end of pipeline vandalism and crude oil theft. ‘’One of the measures the Nigerian National Petroleum Corporation (NNPC) is also exploring is partnership with local authorities that are closest to where these assets are and it is in that sense that we have the men of the Kings Guard. ‘’They are men who have root in the community, who lives in the area, so they will be the first to know if anything is going on. ‘’These men have just been brought onboard to work with other security agencies mainly to provide intelligence and presence which have very significant deterrence value. ‘’You can see that when we

got there, they submitted to our control and direction so they have been very organised and disciplined. ‘’As a formal security agency, we take a lot of processing when we talk of arrest particularly when it emanates from the men of the kings guard. It is not everything that they bring up that we consider as arrest. ‘’For us to prosecute, we must present evidence and that will include the offence that was committed, the persons involved and the instruments of that crime and possibly other witnesses who may have observed. ‘’If in the course of our interaction, we cannot provide any of these elements, we do not go ahead and just take people for the sake of recording the number of people arrested. But indeed we have worked together and made arrest,” NNS Beecroft Commander stated.

According to him, ‘’We have handed over some people for prosecution and the processes are ongoing at the appropriate government agencies. ‘’Today, we went on land but you will recognise that that land is not the primary area of the navy. So, we do patrol at sea predominantly but that does not mean we will be oblivious of what is going on on land. ‘’That is why we go there also, because at the end of the day, some of the activities end up being transported on water. So, we are interested to know the source of the activities that spill to some of the crimes that we see on water.” Warning perpetrators to seek legitimate means of livelihood, Adaji said the navy is always ready to fight pipeline vandalism and oil theft in line with the zero tolerance agenda for maritime offences of the Chief of Naval Staff, Vice Admiral Ibok Ette Ibas.

T H I S D AY • MONDAY, APRIL 18, 2016

NEWS PMB'S FOREIGN TRIPS - MY TAKEAWAY President Buhari's logic was different. Hold your volumes, steady the price, and don't let us hurt one another. Recorders of history will recall that the Venezuelan government suffered a major political defeat in Parliament, while President Buhari's logic has at least steadied oil prices. It might interest you to know that all European nations sent their oil ministers, except Russia, where Vladimir Putin came in person, because having been suspended from the G8 and facing sanctions, this was the meeting where his country's interests were best served. For the record, Russia pledged a $5 billion state support to Iran, and if the purpose of this is lost on anyone, I interpret it to mean, "Take cash, don’t pump out your oil. It will hurt me." This is the reality of international politics. Finally on Iran, President Buhari told us, how when he flew to Iran in his days as Petroleum Minister, he noticed how much gas they were flaring and now he returned as president, all the flares were gone. We found out that all the gas had been harvested and piped to every home for heating, cooking etc. His mandate: “If they can do it, we must do it.” I am proud to be led by a president who sees good things outside and seeks to bring them to his people.

Abu Dhabi Renewable Energy This is reputed to be the richest of the Emirates in the United Arab Emirates (UAE). Apart from seeking cooperation to recover Nigeria's stolen wealth stored in the UAE (his anti-corruption commitment pursued in person), President Buhari addressed a renewable energy summit where we learned about initiatives to bring solar power price down to five US cents per kilowatt hour, (approximately N10) as against the price of 17 US cents (N34) per KW/h tariff in Nigeria fixed at privatisation by the last government. President Buhari's mandate was for us to explore collaboration for the manufacture of solar panels in Nigeria to bring down the price and deploy it to the sunlit areas of Nigeria, especially the North that is most prolific for irradiation. We are currently working on the Energy Mix for Nigeria which is the implementation process of the energy policy that will take us there. Hopefully, we will soon be signing the first set of solar deployment agreements for Nigeria. In this way, more solar and hydro will be used in the North, more coal and hydro in the Middle Belt, and more gas in the South; so that we take power generation closest to the most prolific source of fuel to bring down the cost and make it more affordable. On the trip to China (which I will comment on) we met a few Chinese solar manufacturers (who recognised us from Abu Dhabi) who want to set up business of manufacturing solar panels in Nigeria.

China Investment Forum and State Visit This is the visit that provoked this write up, because I had bottled what I knew. But it was time, I believe, to share some of it. China is the second largest economy in the world with a per capita income of $8,000 which they are planning to raise to $12,000 by 2020. By her own assessment, according to President Xi Jinping, they are still a developing nation seeking to achieve what he described as "initial prosperity" by 2020. If you look at the back of your phone, your TV, your watch, your I-Pad, your mobile charger, many other accessories that you use, you are likely to find these three words “Made in China" printed somewhere. For such a nation, (with trillions of dollars in reserves, that plans to spend $2 trillion on imports in the next five years and earn $100 billion annually) who still sees itself as a developing nation, such modesty in the face of success, assiduous hard work and productivity is a destination to seek cooperation in the pursuit of economic development. This is where President Buhari led an array of Nigerian investors including Erisco Foods, (who now makes our tomato paste at home and employs people locally including farmers who supply the tomatoes), power operators (DisCos and GenCos), and the Dangote Group, to meet with and address their Chinese partners. During the meeting with the Chinese President, six collaboration agreements were signed including for agriculture and food production improvement techniques, rail and power infrastructure development, for funding the Dangote Group to continue to expand and create jobs at home and keeping some of our reserves in the currency of the richest nation in the world. This last mentioned agreement was a legitimate coup by President Buhari because the intelligence was that some West African countries were going to sign before us.

President Buhari seized the moment. Of course he had to apologise for our previous failures on our agreement made to part-fund four airport projects in Lagos, Kano, Abuja and Port Harcourt and Abuja-Kaduna rail project. The Chinese had provided their agreed part of 85 per cent but the remaining 15 per cent Nigeria did not honour during the last administration. Some of the recent revelations about financial scandals estimated at $2.1 billion in the office of the National Security Adviser (NSA) alone during the last administration suggest how impactful such funds would have been in delivering these critical infrastructure; but we all know what happened. This is why President Buhari is travelling. To repair our reputation severely damaged by the last government, and to assure our partners that Nigeria has CHANGED. And from there to re-negotiate an existing funding agreement to complete critical transport infrastructure. Because of his reputation, President Xi Jinping believed him, and to quote him, he said: "It is better late than never." Through him China literally opened the door to Nigeria in areas of infrastructure (power, railways and roads), agriculture, education and manufacturing especially in our Free Trade Zones. To paraphrase the Chinese President, "ask us for whatever support or partnership and we will be happy to respond." "We wish to see you take your rightful place and we are happy that you are the first African president visiting China, after my visit to Africa last year to pledge a $60 billion support for the development of the continent." If this was not initiative I doubt what is? As for the trips to Paris, COP 21 and the USA, Nuclear Security Summit, I will only say this: a) The threat of climate change, global warming, desertification in the north of Nigeria and coastal erosion in the Atlantic (Bar beach in Lagos) and in the south, affecting Rivers, Bayelsa and other coastal states, the clear scientific evidence lays the blame at the door of the world's most industrialised nation for their pollution. b) Since the Kyoto protocol they have paid lip service to remedying the situation, which unfortunately affects developing nations more adversely. c) COP 21 was the first serious commitment that these leaders made to ensure that global temperatures do not rise above 2°C and indeed are reduced to 1.5°C. I am proud that Nigeria was not missing at this historic moment. When the planet is saved, the next and future generations of Nigerians will recall that President Buhari was present, when all of the world leaders were present to save the planet. d) In the aftermath of COP 21, the commitment of these nations is to increase production and technology for renewable energy and to reduce the use of carbon fuels. One way they plan to achieve this is increased deployment of nuclear energy. e) These nations are at the cusp of sharing safe nuclear technology for peaceful uses with developing nations for power generation. This for me was reason enough and a good one at that for President Buhari to be in the USA because Nigeria has been pursuing a nuclear power programme for about 17 years, not as an alternative to gas or Hydro, but as additions to them. The world leaders must trust you for you to partake. At that summit, in the group photograph, President Buhari stood on the second row along side Britain and Turkey. In the past, we used to be on the last row. This is CHANGE. As he meets with world leaders outside Africa, he has not forgotten the home front. He is regularly visiting and receiving his sister and brother presidents on the African continent. President Buhari has earned their trust for all of us and I am proud to carry my green passport. Yes, some results are not yet manifest, and may take a little while to do so, but a solid foundation for a sustainable, respectable and prosperous future is being laid, block by block. This is how to build a solid "home" from whence we can project respect abroad with confidence. How many of us will do business with total strangers without a reference or a good reputation in this age of due diligence? President Buhari is building affiliations everywhere that if well-managed in future, will develop into a global network of friendships, trust and respect for Nigeria and Nigerians. I once heard that the role of a leader, like that of the head of a family, is that of an aggregator, opening doors and opportunities, breaking down barriers and forging alliances. I agree. This is my Takeaway on these trips. •Fashola, Minister of Power, Works and Housing, writes from Abuja

T H I S D AY • MONDAY APRIL 18, 2016

MONDAYSPORTS

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com

Former WAFU Boss Calls for Truce in NFF Crisis Asks sports minister to call Giwa to order Duro Ikhazuagbe Former President of West Africa Football Union (WAFU), Jonathan Ogufere, has called on the Minister of Sports, Solomon Dalung to save Nigeria football from Chris Giwa and his group who are determined to earn the country suspension from FIFA. Speaking at the weekend, Ogufere who is also the chairman of Sports Veterans Association, an umbrella body for past sportsmen and administrators, noted with dismay that the Jos-based club proprietor has continued unabated in his determination to be the president of the Nigeria Football Federation (NFF) irrespective of whether his ambition could earn Nigeria a long-term suspension by FIFA. “The minister of sports (Dalung) cannot afford to keep quiet. He needs to restore peace. We are totally dismayed that after an issue

has gone to the highest court in sports (Court of Arbitration for Sports) and has been settled, some people are still using it to destabilise Nigerian football,” observed the respected former WAFU boss. Ogufere recalled that Nigeria barely escaped FIFA ban when this crisis started two years ago. “Nigeria barely escaped a FIFA ban the last time this issue came up. We should not portray ourselves like a nation that is not ready to abide by international rules. For the goodness of our youths and our football this issue should be nipped in the bud immediately. “I am not just speaking as an individual. This is the way, we the Veterans in Nigerian sports feel. We’ve been watching and cannot continue to keep quiet. We are not happy with what is going on in Nigerian football. Those heating up the football scene in the country should realise the damage their action is creating for Nigeria.”

He urged those hell-bent in taking over the administration of the NFF to wait for Amaju Pinnick’s four-year tenure to end. “To be president and board members of NFF is not a matter of life and death.

Whosoever that is aspiring to get to the NFF should wait till after the four years of the current board. “It is about time this issue is settled once and for all. If you lose an election you keep calm and wait for another time. It

shouldn’t be a do or die affair or matter of life and death. It is unnecessarily disturbing the sporting atmosphere in Nigeria. Going to regular court runs foul of FIFA rules. Nobody forced us to join FIFA and once we are there we must

abide by the rules. Nobody is saying FIFA laws are superior to that of Nigeria. We are not talking about superiority now but respecting ourselves as a member of the international football community,” stressed Ogufere.

BOA Lawyers’ League: Agbakoba, Falana in Grand Finale Falana & Falana, the surprise team of the 2016 BOA Lawyers Football Tournament is set to battle Olisa Agbakoba Legal in the final slated for Sunday April 24. After missing out of the competition meant for practicing lawyers in Lagos, Falana & Falana returned determined not to play second fiddle to any of the 16 law firms participating at this edition. Now, the Ikeja GRAbased team is set to take on defending champions, Agbakoba. To reach the final, Falana & Falana penultimate weekend defeated Aluko & Oyebode 2-0 in the semi final with Tayo Fashanu and Tony Ajadi’s ninth and 18th-minute goals respectively separating the sides. Falana had similarly sent packing former champions, Lagos State Ministry of Justice (LSMJ) by the same margin with Fashanu also accounting for both goals. However, it remains to be seen if Agbakoba will surrender its crown without

a fight. OAL insiders told THISDAY at the weekend that they aiming for an encore. “As you know our pedigree, we don’t just boast but have what it takes to retain the title. We are not scared rather it should be Falana & Falana who should be afraid of meeting us in the final come Sunday. We are the defending champions and should be accorded all the respect we deserve,” observed one of the top supporters of OAL who simply identified himself as John during the semi final clash with Tayo Oyetibo/Bayo Osipitan. That semi final clash sapped OAL players as it deadlocked at regulation time. Agbakoba escaped into the final courtesy a 4-3 victory in a penalty shootout. The Bankole Olumide Aluko Football Tournament (BOA), also known as Lawyers’ League, is held in memory of the late lawyer, Bankole Olumide Aluko, a founding partner in the law firm of Aluko & Oyebode, who passed on 14 years ago.

Nadal...savouring the joy of a Monte Carlo victory

Family Seeks Help for Burial of John Ene Okon Bassey Inyang in Calabar The family of the late John Ene Okon, former Super Eagles midfielder, is seeking financial assistance to settle hospital and sundry bills at the University of Calabar Teaching Hospital so they can bury the deceased who died March this year. At the moment, Okon’s remains is still lying at the hospital’s morgue where it was deposited when he died. His last duty post was UniCem Rovers FC of Calabar where he was chief coach. His daughter, Ruth Okon Ene, who spoke on the development said the family is in a fix as they are afraid that her father’s remains will spend more days in the mortuary than expected before he is interred.

She lamented that her father’s remains, now at the UCTH morgue had been abandoned by the state government, the club and his employers, Lafarge. Ruth said that the hospital had notified the family that the initial one-month deposit for mortuary services had expired. She said that the hospital had revealed demanded for additional fees for services even as the family is struggling to secure a casket, a grave and related funeral challenges in Calabar. She said that the club’s management had pointedly informed the family that their policy did not include burial expenditure for the deceased. Ruth appealed to the State Governor, Professor Ben Ayade, the Nigeria Football Federation, soccer buffs, stakeholders and

Okpekpe Race: Ndiema Replaces Injured Habtegebrel Top Kenya long distance and road runner Esther Chemtai Ndiema has replaced Shitane Habtegebrel in the list of elite athletes for next month’s fourth Okpekpe International 10km Road Race in Okpekpe, Edo State. Spokesman for the IAAF bronze label race, Dare Esan, said at the weekend that the Bahrainian, Habtegebrel pulled out because of injury. Habtegebrel, a silver level

running athlete is injured after she has been confirmed for the race and our Elite Athletes Manager, Walter Abmayr, has promptly replaced her with the Kenyan Ndiema,” observed Esan who further revealed that Ndiema is a gold level running athlete. “This has brought the number of gold level running athletes for the race from four to five women following the confirmation of Pascalia Kipkoech, Maryane Wanjiru and

Polline Wanjiku from Kenya and Ethiopia’s Buzunesh Gudeta for the race.These are all gold level running athletes,”said a delighted Esan. “It’s obvious we are organising a bronze label event with the requirements for a gold label race. This is a demonstration of our determination to improve to a silver label rating next year. This is the dream of Pamodzi Sports Marketing, organisers of the only IAAF label race in Nigeria nay West Africa

and one of only two in Africa this year,” he further said. Esan also revealed that IAAF is taking keen interest in the race which is the second of four labelled 10km races in the world this year after the IAAF Gold Label World’s Best 10K race in San Juan, Puerto Rico in February and the IAAF Gold Label Ottawa 10K race in Ottawa, Canada on May 28 and IAAF Bronze Label B.A.A. 10K race in Boston, USA in June.

public spirited individuals to come to the family’s aid in its time of need. Ruth said the family desired a befitting burial for Ene Okon who in his lifetime played for Acada United FC of Unical, Rovers of Calabar, BCC Lions of Gboko, Akwa United of Uyo and the Flying Eagles. Chairman of the Cross River Sports Commission, Mr. Orok Duke, the employer of the deceased, said the commission

was aware of the challenges. He said Ene Okon’s family deserved support in its period of grief over the demise of its bread winner. He said he had intimated the state government and the club owners of Ene Okon’s death.. Duke also assured that the state government would not abandon the family in the burial of ther former Nigerian star which was earlier slated for April 22 but shifted to April 29

Nadal Clinches Monte Carlo Crown Rafael Nadal beat Gael Monfils 7-5 5-7 6-0 to claim a ninth Monte Carlo Masters title yesterday. Nadal emerged from a scattergun first set with the advantage after his third break of the Monfils serve secured the stanza 7-5. The Spaniard, who won a tournament record 46 matches in a row between 2005 and 2013, unleashed his full arsenal at the beginning of the second set but Monfils managed to stay with him. And the 29-year-old Monfils managed to secure a decisive break – his third of the set – in game 11 of the

second set before serving it out to level the final. Both men looked to be tiring towards the end of the second set but Nadal returned reinvigorated to secure the title courtesy of a final set bagel. “Monte Carlo has been one of the most special places in my career,” Nadal told the crowd on receiving the trophy. “It was a pleasure to play back here again and in a final. “It’s been a special week for me, winning here in Monte Carlo is so special,” he added.“See you next year.”

T H I S D AY •MONDAY APRIL 18, 2016

MONDAYSPORTS

NPFL: IfeanyiUbah Back at the Top Giwa, Rangers match inconclusive in Jos

FC IfeanyiUbah has regained the leadership of the Nigeria Professional Football League (NPFL) after a 1-0 win over Warri Wolves in a Week 12 game and the inconclusiveness of the game between Rangers and Giwa in Jos. Erstwhile leaders Rangers were leading 1-0 before their game at Giwa

was disrupted in the 74th minute. IfeanyiUbah now top the league standings with 22 points from 12 games. Maduabuchi Okereke scored the only goal of the game in the 59th minute. In Port Harcourt, Bernard Ovoke’s lone strike earned Rivers United a 1-0 home win

over Kano Pillars. The former Bayelsa United forward scored in the 77th minute. David Obiazor in goal for Pillars prevented Rivers United from scoring in the 20th minute, before Fredrick Obomate’s flying header in the 30th minute missed by a whisker. In the 41st minute,

Pillars Rabiu Ali fired over the bar from the edge of the box In Makurdi, Barnabas Imenger scored in the 52nd minute off Tony Okpotu’s assist to give a Lobi 1-0 win over Akwa United. El Kanemi Warriors Head Coach, Ladan Bosso, has described his

side’s massive defeat at Sunshine Stars as “bad day” at the office. Warriors were handed a 0-3 defeat at Sunshine Stars in Sunday’s Matchday 12 clash at the Akure Township Stadium. Bosso said it is unpardonable for his side to have created several chances at goal without making the chances count in their favour. “Today (Sunday) is a bad day for us, we created as many as seven chances at goal without a goal to show for it. “The defensive errors didn’t help us either as the home side made their chances count positively. “I also do not understand the referee’s decision to award two penalties to Sunshine Stars while he completely overruled a just penalty call on our part. STANDINGS

Team P Ifeanyi Ubah 12 Rangers 11 Abia Warriors 11 Rivers Utd 12 MFM FC 12 Akwa Utd 12 Lobi Stars 12 Kano Pillars 11 Wikki 11 W’Wolves 11 3SC 11 Sunshine 11 N’Tornadoes 12 Heartland 11 Giwa FC 11 Plateau Utd 12 El-Kanemi 12 Nasarawa Utd 10 Enyimba 7 Ikorodu Utd 12

Mfon Udoh (in flight) has sealed a new deal at Enyimba

C H A M P I O N S L E AG U E

Etoile du Sahel, Enyimba Clash Tickets Sold out Wednesday’s CAF Champions League clash between Tunisia’s Etoile du Sahel and Enyimba has already been sold out. The Tunisian Interior Ministry approved for 20,000 tickets to be sold for the match at the Olympic Stadium in Sousse and already officials said the tickets have been snapped up. The clash between Etoile du Sahel and Enyimba in the second round return leg match this evening is scheduled for 6pm Nigerian time. Moroccan officials will be in charge of Wednesday’s match. Enyimba won the first leg in Port Harcourt 3-0 courtesy of a hat-trick by Mfon Udoh. The seven-time Nigeria champions who have been training under floodlights at the Agege Stadium in Lagos ahead of this fixture scheduled to fly out to Tunisia via Addis Ababa, Ethiopia.

They plan to train under floodlights in Sousse Tuesday night. The overall winners of this tie will march on to the group stage of the Champions League, while the losers drop down to the second-tier Confederation Cup. Meanwhile, Mfon Udoh has signed a new deal that keeps him at Enyimba till February 2019. “Mfon (Udoh) has signed a new deal with Enyimba till 2019 after his previous deal ended in February,” a top source told only AfricanFootball.com yesterday. “All the documentations have been filed with the league.” Enyimba is now expected to cash in big time should the striker move overseas before the expiration of this new contract. The 24-year-old Udoh, who smashed a hat-trick against Tunisia’s Etoile du Sahel in a crunch CAF Champions League second round clash last week, is the all-time top

scorer in the Nigeria league with 23 goals. The former Akwa United star achieved this milestone two seasons ago. He was subsequently sought after by several top African clubs including club Africain and Esperance

(Tunisia) and Egypt’s Zamalek. Last season, he came off the boil due to fitness problems, but he has been firing again in the current campaign highlighted by his treble against Etoile last Sunday.

W 7 6 5 6 5 5 5 5 4 4 5 3 4 4 4 4 4 4 3 1

D 1 3 5 1 4 3 3 3 4 4 0 5 2 2 2 2 1 0 0 3

“We will go back home to continue to work on our mistakes to come out a better side in subsequent matches,” said the former Abia Warriors coach to supersport.com. The blowout at Sunshine Stars leaves the Maiduguri outfit’s total points at 13 from a possible 36 in the 12-week-old top flight. El Kanemi Warriors’ next match will be against struggling side Ikorodu United in Maiduguri.

MATCH DAY 12 IfeanyiUbah 1-0 Wolves Sunshine 3-0 El Kanemi Tornadoes 2-0 Ikorodu Rivers 1-0 Pillars Lobi 1-0 Akwa Nasarawa 2-1 Plateau 3SC 2-I Heartland MFM 1-0 Wikki L 4 2 1 5 3 4 4 3 3 3 6 3 6 5 5 6 7 6 4 8

GF 15 17 12 14 13 17 14 14 12 5 13 13 15 8 11 12 13 10 6 6

GA 10 11 7 12 12 12 11 12 6 7 14 11 16 9 14 18 18 13 7 20

GD 5 6 5 2 1 5 3 2 6 -2 -1 2 -1 -1 -3 -6 -5 -3 -1 -14

Pts 22 21 20 19 19 18 18 18 16 16 15 14 14 14 14 14 13 12 9 6

Gata Leads Goals Chart Niger Tornadoes striker Ismaila Gata is the leading scorer in the Nigeria Professional Football League (NPFL) after he netted a brace in his team’s 2-0 win over strugglers Ikorodu United in a Week 12 game yesterday. Gata has now scored seven goals. He is closely followed by Lobi Stars Tony

Okpotu, Ibrahim Mustapha (Wikki Tourists) and Chisom Egbuchulam from Enugu Rangers. Gata opened the scoring in the seventh minute, when he converted a spot kick after an Ikorodu United defender handled the ball in the vital area. He completed a brace after half an hour of action.

States Battle for YSFON Chief of Naval Staff Cup Olawale Ajimotokan in Abuja The 15th edition of Youth Sports Federation (YSFON) Chief of Naval Staff football tournament kicked off yesterday at the Old parade Groud Abuja. The event will feature many states in the federation vying for honours in the boys U-14 and girls U-17 categories. Sixteen states; Kogi, FCT, Kwara, Ondo, Oyo, Osun, Delta, Edo, Plateau, Nasarawa, Benue, Kaduna, Nigeria Navy Secondary School, Calabar, Bauchi and Ekiti will compete in the boys tournament, while four states, including Delta, Benue, FCT and Lagos will

feature in the female event. The final will be played on April 23. YSFON President, Nasir Yusuf Gawuna, expressed gratitude to the Chief of Naval Staff Vice Admiral Ibok- Ete Ekwe Ibas for facilitating the return of the grassroots football tournament since the last edition was held in 2012. Gawuna said no price money will be attached to the tournament as YSFON is using very minimum recourses to organise the tournament. He appealed to people with means to aid of the association. He also revealed that teams would be screened to ensure that only players within

the age limit will compete, while YSFON also boasts of the record of all the teams including the players’ pictures, declaration of age and record from their local government of origin which are documented. According to him, the state from where the winning team emerges will be written by YSFON, which will in addition, encourage them to take the youths to many international competitions for further exposure. He clamoured for corporate bodies to aid YSFON in financing its activities so that the federation, a Non Government Organisation (NGO) can develop

programmes that can help in returning Nigeria to the glorious past when virtually all the country’s national youth players were products of the federation. “It is imperative to pursue grassroots oriented programme if we aim to sustain Nigeria’s domination of youth football, which is the underlying philosophy behind the creation of YSFON. We are already in partnership with West Ham United for talent exposure, while we also held a coaching seminar in Abuja for talent hunt. We want to explore avenues for our teeming youths, Gawuna said.

T H I S D AY •MONDAYAPRIL 18, 2016

MONDAYSPORTS L E AG U E S O F T H E W O R L D

Messi’s 500th Goal Overshadowed by Barca’s Defeat

Suarez (on the turf)... Messi’s 500th goal ecliped by Barcelona’s 2-1 defeat by Valencia Lionel Messi finally broke his scoring drought to reach his 500th professional goal, but that personal achievement was overshadowed by another poor Barcelona display as they went down 2-1 to Valencia. The Catalans knew they could not afford to drop points again after previous defeats at the hands of Real Madrid and Real Sociedad - with Atletico Madrid moving level on points earlier yesterday following their win over Granada - and created numerous chance to open the scoring in the opening

La Liga

Levante 2 - 1 Espanyol Getafe 1 - 5 Madrid Las Palmas 1 - 1 Gijón Eibar 2 - 1 Sociedad CeltaVigo 1 - 1 Real Betis Málaga 0 - 1 Athletic Sevilla 1 - 1 Deportivo Atlético 3 - 0 Granada Rayo 2 - 1 Villarreal Barcelona 1-2 Valencia CF

La Liga

Team Barca Atlético Madrid Villarreal Athletic CeltaVigo Sevilla Málaga Eibar Sociedad Las Palmas Deportivo Real Betis Valencia Espanyol Rayo Granada Gijón Levante Getafe

P 32 33 33 33 33 33 33 33 33 33 33 33 33 32 33 33 33 33 33 33

W 24 24 23 17 16 15 13 10 11 11 11 7 9 9 10 8 7 7 7 7

D 4 4 6 9 6 8 10 11 8 8 7 17 11 10 6 10 9 8 7 7

stages of the game. Luis Suarez, Messi and Neymar all failed to beat the excelling Diego Alves, though, as the Valencia goalkeeper pulled off a string of fine saves. An own goal from Ivan Rakitic then saw Valencia take a shock lead, before Santi Mina doubled the visitors’ lead with his fourth league goal of the season. Messi eventually got his milestone goal after the break to end his barren run, but it was not enough to salvage a draw as Valencia held firm. This weekend’s results mean Barcelona are level on 76 points with Atletico, while third-placed Real Madrid have moved to within just one point as the title race hots up. Barcelona dominated proceedings right from the start and created a number of chances to go a goal ahead. Suarez volleyed over L 4 5 4 7 11 10 10 12 14 14 15 9 13 13 17 15 17 18 19 19

GF 87 57 98 42 51 46 46 30 45 41 38 42 30 36 34 45 33 33 30 29

GA 27 16 30 28 40 53 40 30 49 44 45 48 46 39 62 65 60 54 56 61

GD 60 41 68 14 11 -7 6 0 -4 -3 -7 -6 -16 -3 -28 -20 -27 -21 -26 -32

Pts 76 76 75 60 54 53 49 41 41 41 40 38 38 37 36 34 30 29 28 28

the crossbar in the fourth minute after being set up by Messi, before the Argentina international was denied from close range by Diego Alves just minutes later following some good work from the ex-Liverpool striker. Neymar then failed to lift the ball over the Valencia goalkeeper in the 12th minute after being sent through one-on-one by a brilliant pass from Messi. Suarez and Messi failed to convert further

chances and the visitors made them pay in the 26th minute, Guilherme Siqueira’s dangerous cross from the left clipping Rakitic’s boot on its way past Claudio Bravo. And Valencia doubled their lead just before the break through Mina. Dani Parejo set up the 20-year-old with a clever throughball to expose Sergi Roberto down the right and he beat Bravo with a composed finish. Rakitic could have pulled one back early

in the second half after an intelligent ball from Suarez, only for the midfielder to mishit his shot and fire wide. Messi at last got his goal shortly after the hour mark to give Barcelona hope again, tapping home from close range after a low cross from Jordi Alba from the left. Diego Alves showed his class again with 20 minutes left on the clock, keeping out Neymar ’s left-footed shot from

inside the area. The Valencia goalkeeper continued to frustrate Barcelona, pulling off a superb reflex to prevent Rakitic from making amends for his first-half own goal. Neymar could have salvaged a draw with a late chance, but the Brazilian’s shot bounced wide after taking a deflection, before Gerard Pique missed a sitter in the 90th minute as Valencia held out for a hard-fought win.

West Ham Dents Leicester’s Title Challenge Leicester City stumbled on their march towards the Premier League title by dropping two points in a 2-2 draw with West Ham United despite a last-minute equaliser from Leonardo Ulloa at the King Power Stadium yesterday. Leicester finished the match EPL

Team Leicester Tottenham Man City Arsenal Man Utd West Ham S’hampton Liverpool Stoke City Chelsea Everton Watford B’mouth WBA Swansea Palace Norwich Sunderland Newcastle Aston Villa

P 34 33 33 33 33 33 34 32 33 33 33 33 34 33 34 34 34 33 33 34

W 21 18 18 17 16 13 14 14 13 11 9 11 11 10 10 10 8 7 7 3

D 10 11 6 9 8 14 9 9 8 11 14 8 8 10 10 9 7 9 7 7

with 10 men after goalscorer Jamie Vardy was sent off early in the second half for a second yellow card. Leicester coach Claudio Ranieri praised his side for saving a point, which put them eight clear of secondplaced Tottenham Hotspur with four matches to play. L 3 4 9 7 9 6 11 9 12 11 10 14 15 13 14 15 19 17 19 24

GF 59 60 61 56 40 54 45 52 37 49 53 32 41 31 34 36 35 39 35 23

GA 33 25 33 34 30 42 35 43 43 45 44 37 57 40 45 43 60 57 61 65

GD 26 35 28 22 10 12 10 9 -6 4 9 -5 -16 -9 -11 -7 -25 -18 -26 -42

Pts 73 65 60 60 56 53 51 51 47 44 41 41 41 40 40 39 31 30 28 16

Spurs’ match in hand is at Stoke City on Monday and if they win that they will narrow Leicester’s lead to five points. “The sending-off changed the whole match, but I judge my players, not the referee,” Ranieri said without commenting on the red card. “This was our soul, we play every match with blood, heart and soul, it was magnificent,” added the Italian whose team had won their last five games to close on their first English top-flight title. West Ham almost scored in the second minute when Leicester keeper Kasper Schmeichel saved a header

EPL Norwich 0 - 3 Sunderland Everton 1 - 1 Southampton Man Utd 1 - 0 Aston Villa Newcastle 3 - 0 Swansea W B A 0 - 1 Watford Chelsea 0 - 3 Man City Bournemouth 1 - 2 Liverpool Leicester 2 - 2 West Ham Arsenal 1 - 1 Palace

from Cheikhou Kouyate, tipping the ball on to his left-hand post before it rolled across the line and hit the other upright. Vardy put Leicester ahead after a lightning counter-attack in the 18th minute with a leftfoot shot into the corner of the net before picking up his first booking for a late challenge on Kouyate. His second yellow came early in the second half when referee Jon Moss ruled he dived looking for a foul and the match gradually swung West Ham’s way. They equalised through an 84th-minute Andy Carroll penalty after Wes Morgan hauled down Winston Reid and looked to have won the game two minutes later when Aaron Cresswell scored a stunning goal with a fierce shot from the edge of the box which dipped and swerved as it flew past Schmeichel. But with only seconds of stoppage time remaining Leicester equalised when Ulloa scored from the spot after Carroll fouled Jeffrey Schlupp.

Monday April 18, 2016

UT H

& RE A S O

Price: N150

MISSILE Ex-Lawmaker to Fayose “Aside from the fact that Fayose expended over N50 million of Ekiti money on his misadventure to China, he also committed another N10 million to send his Chief of Staff, Dipo Anisulowo and other 10 government officials, including some lawmakers to Abuja to submit the letter at the Chinese Embassy. What does Fayose tend to lose if the Chinese government accedes to President Buhari’s request?” – A former member of the House of Representatives, Bamidele Faparusi, faulting Ekiti State Governor Ayodele Fayose for writing the Chinese government seeking to stop the $2 billion loan being sought by President Muhammadu Buhari to finance some projects in the 2016 budget.

BABATUNDEFASHOLA GUEST COLUMNIST

PMB’s Foreign Trips – My Takeaway

n making this public intervention, I seek to highlight the benefit of global relationships and cooperation in a world that is changing daily as a result of globalisation and transborder economics, social and even criminal activities where no one is safe, except all are safe, and to leave the dispassionate observer his opinion after deep reflection on the value, or lack of it, of President Muhammadu Buhari’s foreign trips. This way I hope every Nigerian who cares about our country will have some information about what their president is doing about the things that concern them. First I will start with context. Barely two decades ago (between 1994 and 1998), we would not have quarrelled with the description that we were a pariah nation. We were ostracised from global events because of bad governance. We had lost the respect accorded nations like ours were they well-led and well-run. I recall that not a few Nigerians complained that the green passport was becoming, if it had not already become, a burden. That was at the height of the dictatorial government that broke the rules of international relations. It was from there that we started to heal. Investors entered our country. Many brands that we sought after abroad started coming to set up shop in our country. The tourist footfalls in our country increased slowly but surely, but again we began to slide. That was when Buhari declared at a meeting in Lagos during his campaign in 2015, that if elected, he would make us proud about our country again. Proud to be Nigerian again. That is the context in which I view his foreign trips and the manifesto of the All Progressives Congress (APC) on Foreign Relations which promised to: •Make the Nigerian national interest the overriding factor in its foreign policy and international relations. •Work to reform global governance in multilateral institutions and agencies. •Work to strengthen the African Union (AU) to become a more effective organisation on global affairs. •Engage the BRICS countries (Brazil, Russia, India, China and South Africa) on the basis of equality. •Play a leadership role to develop a MINT (Mexico, India, Nigeria, and Turkey) as a counterforce to BRICS. I will limit my takeaways to four trips that I attended with the president namely: the G7 Summit in Germany, the Oil and Gas Summit in Iran, the Renewable Energy Conference in Abu Dhabi and the state visit and Business Forum in China; and two trips that I did not attend, but whose deliberations I followed, namely: Paris for the COP 21 and USA for the Nuclear Energy Summit.

G7 in Germany This is a club of eight of the most industrialised, economic and technologically advanced nations. For the benefit of those who do not follow international politics, it was originally the G8 comprising the USA, Britain, Germany, France, Canada, Japan, Italy, and Russia, who were later suspended and had sanctions imposed on them to make it G7 as a result. It was formed in 1975 as a club of six before Canada and Russia were

Buhari

admitted. They look after each other, and the rest of the world to put it simply. They have gone to war together if you remember Iraq and Libya in recent memory and they are all largely collaborating to fight terror. (Most recently the FBI was rendering assistance to Belgium in the aftermath of the terror attacks in that country).

Why G7 One Might then Ask? Answer: German Chancellor Angela Merkel, as host, invited President Buhari on his inauguration to be their guest along with some three or four other African countries. Their agenda was global security, global economy and global health in the aftermath of Ebola, which was still raging in some African countries. Apart from the personal aides of the president, Governor Shettima of Borno, General Abdulrahman Dambazau and myself were the only ones who accompanied the president. I recall that upon our arrival in Germany, they expressed surprise that our delegation was small and asked if others were still coming. In the pre-departure briefing, in addition to highlighting how the security and economic agenda of the G7 coincided with two of his campaign promises, security, (corruption) economy, President Buhari stated the reasons three of us were invited. Governor Shettima was in the front line of terrorists and criminal activities in the North-east; General Dambazau was a former Chief of Army Staff, and also a faculty associate of Harvard University Weatherhead Centre for International Affairs; I had run the single biggest economy of a state within Nigeria for eight years and was in the frontline of Ebola. Without ministers, one week after taking office, he felt we were the ones best suited to assist, if he needed it, on the issues of security, economy and health on the G7 agenda. In the event, he did not need us. He held his ground admirably. He was the first person called upon to speak at a Summit in which Nigeria was not a member. I was proud to be a Nigerian. At global summits, we usually got to speak when others had spoken and the hall has emptied. President Barack Obama was the first G7 member to speak after President Buhari and he said that Nigeria has elected a president that brings a reputation of scrupulous integrity to the table. I was proud to be a Nigerian.

The opening session was robust and welcoming, we saw some of the world’s most powerful men and women take off their jackets, call each other by their first names in a club-like setting while addressing the world’s most serious problems. Problems that affect you and I daily. I was proud that my president was in a room where decisions concerning my planet were being deliberated upon. British Prime Minister David Cameron, Chancellor Merkel and others also spoke in similar vein about our president’s reputation and our nation’s strategic position in Africa and the world. They pledged support for Nigeria on terror and the economy. Importantly, I learned that their scientists were worried about increasing resistance of strains of infections to antibiotics; and that they were committing enormous resources into finding out why and what to do. They highlighted the difficulty of time and resources that it will take to develop new antibiotics and the risk to global health. If we all appreciate how vulnerable we can be without effective antibiotics, especially our children, and if we remember how low life expectancy was and how poor global health was before the discovery of Penicillin after the World War, we will appreciate the seriousness of the platform to which Nigeria was invited. I was proud that our president was there. If the seven most powerful nations stand with you,

who can stand against you? I need not say more except that I can attest that President Buhari has been following up on these matters, and the progress on security is visible, while results on the economic front will manifest soon enough.

Iran Oil and Gas Summit For those who are not aware, one of the reasons why oil prices went up, and from which we benefited in the past, was that Iran, the world’s 7th largest producer of oil, was facing global sanctions from which she was due to emerge in 2016. Because Iran was soon to be selling oil, the likelihood of a further crash of oil prices that had drastically fallen was a threat to Nigeria’s economy if oil prices crashed further. (Our 2016 budget proposals had just been formulated on a $38 per barrel assumption). I was witness to President Buhari’s persuasion to Iran to come to the market slowly instead of pushing out large volumes which will raise supply and crash prices, even though Iran also needed the cash. You can’t do that type of diplomacy by letter or by phone, in my view, not when the major players were all there in person. I witnessed the meeting with the Venezuelan prime minister, who was leading the South American producers to sell more and get cash even if the prices were lower. Continued on page 60

WE PAY FOR OUR GOVERNMENT’S MISTAKES IN MY COUNTRY, WE HOLD OUR POLITICAL LEADERS ACCOUNTABLE FOR DECISIONS AND AGREEMENTS THEY MAKE ON OUR BEHALF. AND THEY KNOW THE CONSEQUENCES IF THEY GET IT WRONG!

FOR INSTANCE, IF OUR GOVERNMENT PULLED OFF A FOREIGN DEAL THAT DIDN’T FAVOUR US IN THE END, OUR PRESIDENT WOULD NOT THINK TWICE ABOUT TAKING THE FALL AND IF PUSH COMES TO SHOVE, HE WOULD RESIGN HONOURABLY!

IN MINE, OUR POLITICAL LEADERS HOLD US ACCOUNTABLE FOR DECISIONS AND AGREEMENTS THEY MAKE ON OUR BEHALF. AND WE SUFFER THE CONSEQUENCES IF THEY GET IT WRONG!

WELL, IN OUR OWN CASE, OUR PRESIDENT DOESN’T HAVE TO THINK TWICE ABOUT JETTING OFF TO AMERICA, INDIA, CHINA.... TO MAKE WHATEVER DEALS HE LIKES, BECAUSE HE KNOWS, IF HE GETS IT WRONG, WE ARE THERE TO TAKE THE FALL FOR HIM!

18-04-16

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