Monday April 25th 2016

Emefiele: Forex Scarcity Bringing out the Best in Nigerians FirstBank posts highest forex returns as CBN sells $186m to banks Obinna Chima Central Bank of Nigeria (CBN) Governor, Mr. Godwin Ifeanyi Emefiele has described the current scarcity of foreign exchange confronting the country as good riddance,

saying local production of various essential goods are now being given top priority.

Emefiele said this during a tour of the farmlands

cultivated under the Anchor Borrowers' Programme in Kebbi State over the weekend.

He stated that the commitment of stakeholders and the

expected output from Kebbi State alone had proved critics of the central bank’s policy measures wrong.

In a statement from the

CBN, Emefiele, who was full of praise for the farmers and the Kebbi State Government for their determination and commitment, said that with

INSIDE: THISDAY HOME AND DESIGN MAGAZINE

the level of success attained under the pilot project in the state, in addition to what he saw at the Sunti Golden Sugar Estate in Niger State recently, it was becoming more of a Continued on page 8

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Saraki Faults EFCC for Clearing CCT Chairman Says clearance cannot override AGF’s recommendation for Umar's removal, prosecution

Tobi Soniyi in Abuja Senate President Bukola Saraki has faulted the clearance issued to the Chairman of the Code of Conduct Tribunal (CCT), Danladi Umar, by the Economic and Financial Crimes Commission (EFCC) in relation to his alleged involvement in a N10 million bribe made by

one Mr. AbdulRashid Owolabi Taiwo, in his petition to the commission.

Taiwo, who was being tried by the CCT, had alleged that Umar demanded the N10 million bribe from him. He claimed that part of the money was paid into the bank account Continued on page 10

Goje, Abdulmumin Ask Colleagues to Reconsider Budget

Omololu Ogunmade and Damilola Oyedele in Abuja

The Chairmen of the Senate and House of Representatives Committees on Appropriation, Senator Danjuma Goje and Hon. Jibrin Abdulmumin, have

appealed to their colleagues in both chambers to change their stance not to reconsider the 2016 budget, except a supplementary budget is sent to them by President Continued on page 8

Buhari Inherited N600bn Oil Marketers' Debt... Page 11

ANOTHER ACCOLADE FOR DANGOTE

L-R: Chairman and Publisher of The Guardian Newspaper, Mrs. Maiden Ibru; President of Dangote Group, Alhaji Aliko Dangote; and former Ogun State Governor, Chief Olusegun Osoba, when The Guardian presented Dangote with The Guardian Man of the Year 2015 award, in Lagos… weekend

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PAGE EIGHT EMEFIELE: FOREX SCARCITY BRINGING OUT THE BEST IN NIGERIANS reality that the country can produce enough food to feed itself and even export in no distant future.

The CBN governor held the view that with agriculture being the bedrock of genuine economic growth of any nation, Nigeria could not be an exception.

“As such, Nigeria with large expanse of arable land ought not to be spending huge amounts of money importing food items at the expense of other competing needs,” he added.

Emefiele stated that the success recorded by the rice farmers in Kebbi State has rekindled hope in the ability of Nigeria to be self sufficient in rice and wheat production, adding that with the sum of N210,000 granted to each farmer, they were able to cultivate a hectare of rice.

He disclosed that 78,581 farmers were mobilised in the state under the Anchor Borrowers Programme. The farmers are already looking forward to a total of one million metric tonnes of rice this year, he added.

Speaking further on what the programme has been able to achieve, the CBN governor stated that with the disbursement of N4.9 billion as loans to the farmers, over 570,000 direct jobs had been created with the multiplier effect that, 70,871 rural farmers now own and operate bank accounts and are captured under the Bank Verification Number (BVN) biometric project, adding that the timely supply of inputs to 73,001 farmers was achieved.

According to Emefiele, the performance of the programme also vindicated the stance of the central bank that with the right incentives and the necessary support, Nigerian farmers would be able to fill whatever gaps that exist between the demand and supply of agricultural products like rice, wheat, cotton and palm produce.

On his assessment of the programme, the Minister of

Agriculture, Chief Audu Ogbeh, said the level of activities in the rural areas visited by the team showed that with Kebbi State alone targeting one million tonnes of rice of the projected seven million tonnes required by the entire country, self sufficiency in rice production was very much in sight by the time 12 other states identified as rice producing belts harvest their produce.

He commended the efforts of the CBN for reinventing agriculture into a profitable business venture.

The minister further stated that rural areas remained the catalyst for viable economic development and as such deliberate efforts were being directed at opening up the rural areas.

The Kebbi State Governor, Alhaji Atiku Bagudu, said farmers in the state had been adequately mobilised towards the attainment of the one million tonnes of paddy rice by providing them with the necessary inputs as and when due.

He also noted that with the assurance of availability of markets for the produce, farmers in the state were already looking forward to the repayment of the loans extended to them at the beginning of the farming season.

While acknowledging the pivotal roles of both the CBN and the state government in the provision of loans, irrigation equipment and fertiliser, the farmers said they were looking forward to a bumper harvest this season.

They also appealed for an appreciable increase in loans to enable them cultivate more land and maximise output.

The team visited rice farms in Suru, Augie, Bunza and Argungu Local Government Areas of the state.

Meanwhile, the CBN last week allocated a total of $186,356,794.86 to 15 commercial banks and four merchant banks as demand

for the greenback continued to rise.

The amount sold to the banks last week was higher by $8,479,981 compared to the preceding week, according to the banks’ returns on forex utilisation reviewed by THISDAY. Demand was buoyed by dollar purchases by Dangote Group which got a total of $14 million from different banks, the Nigerian Security Printing and Minting (NSPM or the mint) Plc which purchased $9,740,000 for its foreign loan repayment, and Forte Oil Plc which also purchased $6 million during the week.

FirstBank of Nigeria, which got $31,427,590 from the CBN, returned to the first spot. The bank sold forex to 578 customers – corporates and individuals. NSPM which bought $9.74 million, was FirstBank’s biggest customer for the week.

The mint was followed

by Forte Oil which got $6 million and Dangote Cement which purchased $5 million from FirstBank.

Also, Stanbic IBTC was allotted $16,495,298.46 to come in second place.

Stanbic IBTC sold forex to 132 customers, of which 76 of them repatriated funds from Nigeria’s equities and fixed income money markets.

Diamond Bank Plc with $13,671,749.59 held the third slot. The bank sold dollars to 221 customers and its biggest customers in the week under review were Hyde Energy Limited ($1.521 million), Bua Sugar Refinery Limited ($1 million), Dozzy Oil and Gas Limited ($2.539 million), Standard Metallurgical Company Limited ($2.735 million), and Dangote Cement ($2 million).

Guaranty Trust Bank Plc (GTBank) with $13,474,564.26 returns on forex utilisation held the fourth position. The bank sold the greenback to 209 customers. GTbank’s biggest

GOJE, ABDULMUMIN ASK COLLEAGUES TO RECONSIDER BUDGET Muhammadu Buhari.

They have equally described as unfounded the allegations levelled against them in the course of finalising work on the 2016 budget.

Both lawmakers had been accused of unilaterally allocating constituency projects worth billions of naira to their constituencies.

Abdulmumin was accused of allocating constituency projects of over N4 billion to Bebeji federal constituency of Kano State which he represents.

They were also accused of removing the N60 billion Calabar-Lagos rail project and allocating more funds to the Lagos-Kano rail project in the budget.

The purported tinkering with the budget by the appropriation committee chairmen has been blamed for Buhari’s reluctance to assent to the budget, resulting in an impasse with the National Assembly which had asked him to assent to the Appropriation Bill and present a supplementary budget that would address any areas of concern.

But in a joint statement issued yesterday, they said

that they intend to respond to all allegations levelled against them at the appropriate time, adding however that what was more important was to resolve the budget impasse and get it assented to so that its implementation could take off in the interest of all Nigerians.

“For now, what we consider important is to resolve the impasse around the budget and get it assented to, so that it’s implementation can begin in the interest of Nigerians,” the lawmakers stated.

They said there had been a lot of misinformation, misrepresentation and innuendos about the roles played by the joint Committees on Appropriation in the course of passing the budget, adding: “However, we must put it on record that the details aggregated and transmitted to the executive are largely the inputs we received from the standing committees of both the Senate and the House of Representatives.

“Given the foregoing, and all factors considered, we hereby state that we have had enough controversy over the 2016 budget. What

is needful right now is a resolution of the differences and to that end, we call on our colleagues in the National Assembly to accede to the request by His Excellency, President Muhammadu Buhari to have a second look at the details and make the necessary adjustments so that he can give his assent. This, in our opinion, should not go beyond this week.

“To the extent that there are already ongoing consultations, a debate about who is right or wrong is unhelpful in the circumstance; and in any case, does not advance the cause of our countrymen and women whose interest we have been elected to serve.”

The committee chairmen commended Buhari, Senate President Bukola Saraki, House Speaker Yakubu Dogara and the entire members of the National Assembly, members of the Federal Executive Council, the Minister of Budget and National Planning and the budget team for their cooperation, and assured Nigerians that they would do everything to protect and defend their interest, at all times.

customers during the week were Dangote Industries Limited ($2 million), Iris Smart Technologies Limited ($1.699), and Lufthansa Air. Zenith Bank Plc with returns of $12,914,395.81 occupied the fifth position.

It sold the greenback to 274 customers, of which the National Salt Company of Nigeria (NASCON) got $4.962 million.

United Bank for Africa Plc (UBA) reported returns of $11,912,969.93 to occupy the sixth place. It listed 208 customers to which it sold the greenback including those who bought to pay school fees abroad, for personal travel allowance (PTA), and for the importation of industrial raw materials and other equipment.

UBA’s biggest customers during the week were NFE Industries Limited ($1.764 million), Matrix Energy Limited ($1.877 million), and IATA ($1 million).

First City Monument Bank Limited (FCMB) with $11,755,450.41 stood in the seventh place. Its biggest customer during the week was the Dangote Group which bought $ 5 million from the bank.

A report by Afrinvest West Africa Limited indicated that the CBN was still unable to adequately meet the dollar demands of banks on behalf of their customers, “as the central bank continues to refund deposit money banks for huge volumes

of unfulfilled bids at the weekly forex auctions”.

According to the report, the impact of forex unavailability was being felt across sectors, especially the petroleum sector as difficulties with importation of refined products continues to adversely affect economic output.

In another report, Renaissance Capital Limited (RenCap) said it foresees Nigeria’s forex policy becoming more flexible by mid-2016.

The firm, in a report sent out at the weekend, said it expects the country’s policybased budget support to spur a change in the CBN’s forex policy.

According to RenCap, this was the case the last time Nigeria sought financing from development finance institutions in 2009.

President Muhammadu Buhari’s government has described its first budget, which is yet to be signed into law, as reflationary.

It plans to accelerate economic growth by spending N6 trillion, up from N4.49 trillion that was planned for 2015. Of this, 30 per cent will go towards capital expenditure, up from 20 per cent in recent years.

The government plans to borrow $5 billion externally (which is about N1 trillion at the official exchange rate of NGN199/$1).

The country has approached the World

Bank for $2.5 billion in budget support and has also approached the African Development Bank (AfDB) for $1 billion.

RenCap pointed out that “the budget support from the World Bank is policy based, implying that it has to be underpinned by policy reforms”.

“As the World Bank has in principle agreed to the loan – the first tranche is expected to be disbursed by June, and the second by the end of 2016 - we see Nigeria instituting policy reforms, possibly as soon as mid-2016, that we think may include a more flexible forex policy.

“We expect a couple of the policy reforms that will underpin the budget support to involve easing some supply constraints. In particular, we see forex policy becoming more flexible.

“As it did in July 2009, when Nigeria eased temporary exchange restrictions, resulting in a weaker naira, and fall in the spread between the parallel market and official exchange rates to seven per cent (from 25%).

“That was the year Nigeria first approached the World Bank for budget support.

Because of Buhari’s aversion to a weaker naira, for fear it will hurt the poor, we rule out a transition from a fixed peg of N199/$1 to a floating exchange rate which Continued on page 10

Returns on Forex Utilisation for April 18-22 RANKING 1 2 3

COMMERCIAL BANKS FirstBank Stanbic IBTC Diamond Bank

AMOUNT ($'M) 31,427,590 16,495,298.46 13,671,749.59

4

GTBank

13,474,564.26

5

Zenith Bank

12,914,395.81

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UBA

11,912,969.93

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FCMB

11,755,450.41

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Standard Chartered Bank Citibank Nigeria

10,365,476.27 10,305,243.90

10

Ecobank Nigeria

10,246,163.39

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Union Bank

8,116,721.60

12

Sterling Bank

7,696,042.02

13

Access Bank

6,851,777.80

14

Fidelity Bank

6,259,365.57

15

Keystone Bank

5,372,163.58

Merchant Banks 1

Coronaton Merchant Bank

5,066,819.64

2

FSDH Merchant Bank

1,662,595.03

3

FBN Merchant Bank

1,500,000

4

Rand Merchant Bank Nigeria

1,262,407.60

TOTAL

186,356,794.86

T H I S D AY MONDAY APRIL 25, 2016

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NEWS

Congolese Music Star, Papa Wemba, Dies on Stage Papa Wemba, one of Africa’s greatest music stars, has died after collapsing on stage during a festival in Ivory Coast, event organisers said yesterday.

Papa Wemba, who was known as the “King of Congolese Rumba” for helping to bring the highly popular sound to an international audience, was 66.

According to AFP, the flamboyant singer died shortly after performing three songs at the Urban Musical Festival Anoumabo (FEMUA) in Abidjan, the organisers said.

The FEMUA management expressed its “deep sorrow” at the death of a man who has been at the forefront of African music for more than four decades.

Papa Wemba was born Jules Shungu Wembadio Pene Kikumba in June 1949 in what was then Belgian Congo.

He began his singing career in religious choirs in which he developed his trademark high range voice, making his

debut in the capital Kinshasa at the end of the 1960s. He inherited his love of song from his mother, who was a professional “wailing woman” at funerals.

He was convicted in 2004 of smuggling illegal immigrants into France by disguising them as members of his band but walked free as he had already served four months behind bars.

He was supported by a host of fans during his Paris trial in which he was sentenced to a 30-month term, with 26 months suspended, and a fine of 10,000 euros ($11,000).

Papa Wemba, who was also known for his flamboyant style of dress, was a founding member of the “Society of Dandies and Trendy People” in what is now the Democratic Republic of Congo (DRC).

Like many of his generation, he was strongly influenced

by American and British pop culture and initially took the stage name Jules Presley.

In 1969, he helped found Zaiko Langa Langa, a Zaire-

The late Papa Wemba based pop group that was to achieve cult status in the 1970s with its revival of Latin American rumba.

The group revitalised the style that had been popular in the 1940s, using a combination of Afro-Cuban

rhythm and Congolese song while introducing rock rhythms and electronic sounds.

Papa Wemba settled in France in 1986 as his fame began to reach as far afield as Japan, dazzled by the African

dandy who was dressed by the world’s leading designers.

He went on to reach a much wider public, thanks to a world music album produced by France’s Martin Meissonnier in 1988, which blended African and western

sounds.

Papa Wemba’s career began to falter in 1999 after parting ways with the Real World record label that was founded by British rock star, the former Genesis singer Peter Gabriel.

Britain’s Super-rich Hit by Slump in Fortunes Britain’s super-rich have suffered the worst hammering of their fortunes since the financial crash, with Lakshmi Mittal losing three-quarters of his wealth, according to the new Sunday Times Rich List published yesterday.

Mittal, 65, topped the list in 2008 with £27.7bn — the biggest fortune achieved by anyone on the Rich List before or since. This year’s global crisis in the steel industry has sent his finances plummeting and he and his family are now worth £7.12bn — hardly the breadline, but a long way short of their peak, and a £2.08bn loss last year.

He is not alone. The oil billionaires Carrie and

François Perrodo and family have lost 42% of their fortune since last year with a £2.45bn drop, down to £3.35bn, and Alisher Usmanov, the second-biggest shareholder in Arsenal football club, has lost 23% — down to £7.58bn — since last year.

Ten people in last year’s exclusive ranks of billionaires have fallen out of the top bracket to the level of mere multimillionaires.

They include John Hargreaves, founder of the clothing store Matalan; the hedge-fund manager Crispin Odey; the steel maker Lord Paul; and Telis Mistakidis and Alex Beard, executives at the commodities trading giant Glencore.

On the eve of his marriage

to a former page three model, Nat Rothschild, the son of the influential financier Lord Rothschild, has had an even starker experience: worth £1bn in the 2012 Rich List, he falls off the list altogether this year, with his fortune now reduced to £70m after a series of business problems.

Among celebrity names, Sacha Baron Cohen, who made his name as Ali G, and his actress wife Isla Fisher are in the list for the first time, with a fortune of £105m. The racing driver Lewis Hamilton also enters the main list for the first time, with £106m.

Fawn, 30, and India Rose James, 24, the granddaughters of the

late soft porn baron Paul Raymond, emerge as the wealthiest young women in Britain, with £482m, while David and Victoria Beckham are closing in on the Queen with a £40m rise in their fortune, to £280m.

One big name who drops out of the high earners’ league is Lord Wolfson, chief executive of Next.

After shares in the firm slumped, his fortune has dipped £20m to £100m, sending him tumbling off the Rich List after three years.

Robert Watts, taking over as compiler of the Rich List from Philip Beresford, said: “The guys at the top who are feeling the pain this year are often hit by a cocktail of plunging stock markets, low

oil prices and the crisis in the steel industry — sometimes by all three.”

The number of billionaires in London has fallen this year for the first time since the financial crisis: 77, down from 80 last year. Overall, the ranks of billionaires have more than doubled between 2006 and this year, so the rate of increase has slowed markedly. There are also other signs that the rich are not getting richer at quite the rate of previous years.

Every year for the past decade (with the exception of 2009, which was hit by the banking collapse the previous year), the fortune needed to enter the Rich List has risen sharply. It took £60m to make the cut in

2006. That had risen to £100m last year, breaking the three-figure barrier for the first time. But this year, that figure has nudged up by only 3%, to £103m, the smallest percentage increase since 2012.

The richest people in Britain are the Mumbaiborn brothers David and Simon Reuben, who came to Britain in the 1950s and are now worth £13.1bn, up £3.4bn on last year. They began as traders selling everything from scrap metal to carpets, before moving to Russia in the 1990s to take advantage of economic liberalisation and make their first billion-pound fortune trading aluminium.

• Culled from The Times

from the trial.

“He did so before in the case involving former FCT Minister, Jeremiah Useni, where he recused himself from the hearing on the grounds that he had a close relationship with Useni. We are asking him to do so again now because of the facts that we have presented,” Oluyede said.

Elaborating on other documents he filed before the tribunal, Oluyede noted that on the EFCC report of June 24, 2014, the then AGF had directed the then EFCC Chairman, Ibrahim Lamorde, to prosecute Umar and his aide, Ali Gambo, for accepting bribe from an accused person, Rashid Taiwo.

EFCC said in the letter to the AGF that the evidence

suggested that Umar “might have demanded and collected money from the complainant (Taiwo) through his Personal Assistant (PA). Efforts made to recover the telephone handset used by Justice Umar proved abortive as he claimed that he had lost the telephone in 2012.

“This has made it impossible to subject it to an independent scientific analysis with a view to corroborating the allegation.

Justice Umar also admitted that he met privately with the complainant in his chamber at the tribunal.

“This is a most unethical and highly suspicious conduct on his part,” Lamorde said in the letter.

Oluyede was of the view that Umar’s admission of having a private meeting

with an accused person standing trial before his tribunal was a breach of Rule 5(i) and (ii) of the Code of Conduct for judicial officers for which he should be penalised.

Saraki’s lawyer, who also exhibited a copy of the bail bond endorsed by Umar at the EFCC, said Taiwo had admitted bribing Umar in his testimony at the ongoing trial of Umar’s PA in charge No: CR/137/15 before Justice Orji of the High Court of the Federal Capital Territory (FCT).

Oluyede said his client’s application for Umar to disqualify himself from the case and their further affidavit detailing these fresh facts would be heard when the tribunal resumes on Wednesday.

transactions and luxury goods would be left to the managed float market,” it added.

But it noted that market participants in sectors deemed important by the government and benefit

from buying dollars at the stronger rate of N199/$1, may lobby to try and keep the rates in place. And in so doing, open up doors for corruption.

“The forex and fuel shortages are overshadowing

the gains made on the security and anti-graft front.

Buhari campaigned on an anti-corruption platform.

True to his word, he has followed up with credible anti-graft measures,” the report added.

SARAKI FAULTS EFCC FOR CLEARING CCT CHAIRMAN of the personal assistant of the chairman, prompting him to write a petition against the chairman to the EFCC. However, whilst Umar’s personal assistant is standing trial for accepting the bribe from Owolabi, the EFCC exonerated the CCT chairman of wrongdoing.

But Saraki contended yesterday that there was no time the EFCC cleared Umar, and that even where such clearance exists, it was a confirmation of his (Saraki’s) position that the CCT under Umar could not ensure fairness in his (Saraki’s) trial.

Saraki is currently facing a 13-count charge bordering on corruption and false assets declaration at the CCT. He allegedly committed the offence when he served as

governor of Kwara State between 2003 and 2011.

However, he has denied any wrongdoing and alleged political persecution.

Saraki, who spoke in Abuja through his lawyer, Mr. Ajibola Oluyede, argued that the clearance issued to Umar by EFCC could not override the recommendation made in 2014 by the then Attorney General of the Federation (AGF) and Minister of Justice for Umar’s prosecution.

Oluyede said it was only the AGF that possesses the power, under the law, to reverse a decision to prosecute, arguing that his client’s application urging Umar to disqualify himself from the trial was still before the tribunal.

He faulted reports that the

application had been thrown out by the tribunal, noting that since the prosecution was yet to respond to it, and it had not been heard, the tribunal could not have decided on the application.

He also faulted reports that he was thrown out of the tribunal’s venue, saying that he was at the proceedings until it was adjourned.

He said he would argue the application before the tribunal once it was ripe for hearing.

“We are not saying he (Umar) is guilty. We are saying he is tainted and that he cannot act independently while the EFCC that is investigating him and had indicted him is now prosecuting our client before him. That is why we asked him to recuse himself

EMEFIELE: FOREX SCARCITY BRINGING OUT THE BEST IN NIGERIANS would weaken the naira to N260/$1 today, according to our real effective exchange rate (REER) model that tells us the official rate is 30 per cent overvalued,” the company stated.

Rencap said it expected

a policy compromise that would help conserve forex reserves by diverting heavy forex demand.

“Probably to an additional exchange rate, a managed float that trades in a band in the N200-260/$1 region. With

that, it suggested that the fixed (interbank) rate would apply to essential imports, as deemed by the government.

“In so doing, it would subsidise sectors deemed to be important, such as agriculture. Capital account

MONDAY APRIL 25, 2016 • T H I S D AY

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NEWS

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

Buhari Inherited N600bn Oil Marketers’ Debt, Says FG NNPC: PH, Warri refineries now produce 7m litres of petrol daily

Tobi Soniyi and Chineme Okafor in Abuja

refineries start coming on stream from 2018.”

Shehu said the government The presidency yesterday said would also turn its attention to President Muhammadu Buhari the sabotage of the oil and gas inherited N600 billion debt owed infrastructure that had taken so fuel marketers by the former much away from the generation President Goodluck Jonathan’s and distribution of electricity.

The presidency also reiterated administration.

This is contained in a statement its earlier position that the issued in Abuja yesterday by the devastation of the economy Senior Special Assistant to the was caused by the Boko Haram President on Media and Publicity, insurgency, corruption and the Mr. Garba Shehu, wherein he lack of planning by the past announced new measures put administrations and one that in place by the presidency to should not be blamed on the ‘Change Agenda’ of the Buhari roll back poverty.

Among these measures are administration. The statement the directive by Buhari for the read: “The presidency firmly release of 10,000 tonnes of grains rejects the insinuations that from the national strategic grains poverty and lack are products reserves for national distribution of the change mantra. This should to counter food price increases be dismissed as an erroneous and and the intolerably high misplaced opposition criticism.

“The president understands exploitation of common people the pain and the cries of the by the trader-class.

Buhari has also directed the citizens of this country and he Minister of Agriculture to ensure is spending sleepless nights over that all the able-bodied men and how he can make life better for women in internally displaced everyone.

Shehu said contrary to persons (IDP) camps be assisted to return to farming immediately. assertions by a faction of the This is coming as a reaction to opposition Conference of Nigerian calls for government measures Political Parties (CNPP), the to ease hardship associated with president’s energy and focus were on changing the life of Nigerians, food inflation.

Shehu said: “At the time the with a view to making it better Buhari government came to than he met it.

“Change is a process. Change power, about N600 billion was owed to fuel marketers in subsidy does not happen overnight. payments. Strategic fuel reserves Change can be inconvenient. were depleted and local refineries Change sometimes comes with pain. Over the past year, the were not functioning.

“One of the president’s government has been working first steps was to pay off the night and day to deliver on its marketers, leaving an outstanding promise of change to Nigerians, of about N150 billion which and the painful process is still was captured in the 2016 budget. ongoing,” the statement added.

According to him, As life “The Port Harcourt and Kaduna refineries are being gradually returns to normal in brought back to life. In a matter f the country and the Northof time, Nigeria will resume east in particular, agriculture refining its own fuel rather than will resume and traders from neighbouring African countries depending on imports.

“As part of the permanent will once again feel safe to do solution of recurring cycle of business with Nigeria yet another petroleum products shortages, boost for our economy.

He stated that it was only government is working on a plan to ensure that some of when the people appreciated the newly-licenced independent where the country was coming

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from that they would grasp the full meaning and essence of what the ongoing journey entailed Shehu estimated that three North-east states of Nigeria alone had so far lost about N3 trillion ($9 billion) to the Boko Haram insurgency.

He also quoted the previous administration as saying the federal government’s losses amounted to about $18 billion.

The president aide said it would have been a miracle for Nigeria’s economy to not feel the effects.

He said in addition to the thousands of lives lost to the insurgency, thousands had also lost their means of livelihood.

“The North-east region of Nigeria is a mostly agrarian society, which means Nigeria has lost billions of naira in agricultural produce,” he added.

The statement continued: ”Other ongoing plans for change include those for social investment. For example, one million poor and vulnerable

Nigerians will soon receive monthly payments of N5000 to allow them live decently.

This programme is designed to recognise the need for ordinary, poor Nigerians to also benefit from the resources of the country.

President Buhari believes that the resources of our country should be spent also on the vast majority of our people who are poor and vulnerable, and not squandered by government officials or the elite.

“This social investment plan is already provided for in the 2016 budget. The World Bank has begun conducting a social register on poor and vulnerable people in Nigeria, by going to the four poorest local government areas and then the four poorest communities in those poorest local government areas.

“About 7 to 8 states have been completed already. Now the presidency is working with the World Bank and the Bill Gates Foundation on how to identify the people to be paid the N5,000

and how they will be paid.

“This is the first time that the federal government of this country will be spending this much on social welfare for poor, bearing in mind that the money will go directly to the beneficiaries.

“Another programme, also included in the 2016 budget and also targeted at the poor, is the provision of soft loans to one million traders, market men, artisans, etc. These are not the kind of loans that require collaterals that the people can’t afford or provide. No. The loans will come through the Bank of Industry, but this has also been included in the budget.

“In addition to all these, 500,000 unemployed graduates will be directly employed as volunteer teachers but paid by the federal government to teach in their communities while they search for better jobs in their areas of expertise. 370,000 unemployed youths will also be trained in skills acquisition and paid while

doing so.

“These are just some aspects of the change that Nigerians voted for, a change that is happening and which will soon be felt by Nigerians in every nook and cranny of our country.

“Nigerians are a people renowned for our inner strength and our ability to triumph. These are just the darkest days before the dawn. The change Nigerians voted has indeed begun.”

Meanwhile, the Nigerian National Petroleum Corporation (NNPC) yesterday said two of its refineries in Port Harcourt and Warri are now producing seven million litres of petrol everyday.

NNPC stated this in statement from its Group General Manager Public Affairs, Mallam Garba Deen Muhammad, in Abuja.

It quoted the Minister of State for Petroleum Resources and its Group Managing Director, Dr. Ibe Kachikwu, saying that the

Cont’d on pg 57

KEEP THE AWARDSCOMING

L-R: Chairman, National Council of Employers, General Confederation of Enterprises of Côte d’Ivoire (CGECI), Jean Kacou Diagou; Minister of Industry and Mines, Côte d’Ivoire, Jean Claude Brou; Chairman, Heirs Holdings, and keynote speaker/recipient of the CGECI Lifetime Achievement Award, Mr. Tony Elumelu; and Chairman of Centum Group, Christopher John Kirubi, at the fifth edition of the annual forum of the CGECI Academy 2016 in Abidjan, Côte d’Ivoire...recently

Human Rights Commission Asks Security Agencies to Comply with Pre-trial Detention Tobi Soniyi in Abuja The National Human Rights Commission (NHRC) has called on security agencies in the country to bring to an end pre-trial detention, saying it is an affront to human dignity and fundamental human rights.

The Executive Secretary of the commission, Prof. Bem Angwe, who stated this as part of activities to mark the African Day of PreTrial Detention in Abuja, called on security agencies in the country to strictly observe the nation’s constitution and Guidelines on the Conditions of Arrest, Police Custody and Pre-trial Detention in Africa (GCAPCPDA) as well as other relevant international

protocols, treaties and conventions in handling criminal suspects.

Angwe cited Part 2 Section 7(b) (ii) of the (GCAPCPDA) which states that, “The maximum duration of police custody, prior to the obligation to bring the arrested person before a judge, shall be set out in national law that prescribes time limits of not more than 48 hours extendable in certain circumstances by a competent judicial authority, consistent with international law and standards.”

He said it was therefore worrisome to note that a good number of people were put behind bars for a period of five to 15 years or more without diligent prosecution and in the process

some become ill or even died in detention despite the possibility of being innocent of the allegations made against them.

The commission boss commended the Inspector General of Police (IG), Mr. Solomon Arase, for his efforts in decongesting police cells across the nation, adding that the commission was ever ready to collaborate with the police and other security agencies to ensure that all detention facilities comply with the International Minimum Standard for treating criminal suspects.

Angwe disclosed that recent prison audit conducted by the commission revealed than about 70 per cent of the inmates were awaiting trial without the required minimum standard of living, which according

to him, constituted a grievous human rights abuse.

“Out of 50,645 lockups, the number of convicts was 13, 901 compared to awaiting trial detainees of 35, 889” which indicates that “there is a problem in the criminal justice system”.

In an effort to decongest prison and detention centres across the country, the commission has embarked on routine visits to prisons across the country to inspect their compliance with human rights standards.

The reports of these exercises are usually sent to the appropriate authorities for necessary action and this has led to the release of some awaiting trial inmates. The Africa pre-trial detention day is commemorated every April 25.

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T H I S D AY MONDAY APRIL 25, 2016

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COMMENT

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

WOMEN AND THE MALARIA BURDEN Let’s take malaria off the list of women’s hurdles, writes Nana A. Sa’id

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alaria is all around us. Many of us know someone who has had malaria or have experienced the symptoms ourselves. I recently dealt with it at home when my daughter fell sick with malaria, and as a physician, I see countless patients and their children struggling with the disease. But despite malaria’s seemingly universal nature, one thing I have noticed over the years is that malaria has a disproportionate effect on women.

Women are at highest risk during pregnancy, which can lead to severe complications for mothers and their babies. In Nigeria, the impact is devastating: malaria is responsible for 11 per cent of all maternal deaths, in part because less than one in five pregnant women receive the recommended dose of lifesaving preventative treatment.

Our social structures exacerbate the challenges women face in protecting themselves from malaria. Women often lack access to the same resources as men, making it harder to afford preventative measures or malaria treatment. Many women do not have the education they need to fully understand malaria’s risks. As a result, too many women are not in the position to seek appropriate care when they or their children get sick.

All of these factors contribute to a vicious cycle that holds women back and allows malaria to persist. When women spend their income on malaria treatments, or miss work to care for themselves or a sick child, they have fewer resources to provide other necessities for their families – especially if they are the sole source of income. As women’s financial security falters, they have a harder time keeping their families healthy, making them more susceptible to infectious diseases like malaria.

We can end malaria in Nigeria if we make women a priority.

There are encouraging signs that we’re moving in the right direction. Several states offer free maternal and child health services and use antenatal clinics to distribute free insecticidetreated bed nets and preventative treatments. For women who can’t reach these clinics, many community-based organisations send volunteers door-to-door to help women get the services they need. Some malaria control programmes collect comprehensive data on malaria’s burden on pregnant women.

REDUCING THE BURDEN OF MALARIA WOULD ALLOW MORE WOMEN TO COMPLETE SCHOOL, REMAIN IN THE WORKFORCE AND PARTICIPATE IN GOVERNANCE OR DECISION-MAKING – INCREASING THEIR OVERALL ECONOMIC, SOCIAL AND POLITICAL EMPOWERMENT

This has to be the norm, not the exception.

We need local, regional and national strategies designed specifically to address women’s risks. This means tailoring awareness campaigns to emphasise malaria’s impacts on women and offer information on preventative measures and treatment options. These campaigns must also reach men, who can help their wives, mothers and sisters access care.

Collecting wide-ranging data on malaria’s burden on all women – not just pregnant women – will ensure that these strategies are well-informed and address the various factors that drive women’s health decisions.

But it’s not enough to focus on the health-seeking behaviours of individuals. To address the root causes of malaria’s burden in our country, we also need to make sure that women don’t spiral into poverty when they or their children get sick. Our political leaders should prioritise making malaria interventions more affordable through financial programmes that are geared toward women. Also, social safety nets, legal reforms and employment programmes can help account for lost livelihood due to malaria illness.

Ultimately, developing these women-centric programmes will require involving women in the design and implementation of malaria interventions in their communities. Women have insights into their specific barriers to care and are better prepared to create programmes that reflect the intricacies of their everyday realities. As more women are empowered to step into leadership positions, these perspectives will help create more nuanced programmes that work for them.

Putting women at the forefront of Nigeria’s malaria effort will go a long way toward placing national malaria elimination within our grasp. It will also yield impressive results for women’s standing in society. Reducing the burden of malaria would allow more women to complete school, remain in the workforce and participate in governance or decision-making – increasing their overall economic, social and political empowerment.

I want to see a future where my daughters can thrive.

That future is irrevocably tied to the ability of all women in Nigeria to reach their full potential. Let’s not allow malaria to jeopardise it.

Sa’id, an ExxonMobil Global Health Scholar in the MSc in Clinical Embryology programme, is a physician from Kaduna

WHY PRIVATISATION IS NOT TO BLAME Ikeogu Oke argues evidence of vandalism is partly why privatisation is not to blame for current problems in power supply “Even with the increase, there is no light and there are indications that the privatisation might not work. We demand that the entire process of privatisation be reviewed. Government said the increment was a bitter pill we can vomit. The tariff is both illegal and it is outrageous, the increase is not bearable.”

– “NLC to FG,” MISSILE (THISDAY, April 11, 2016 )

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t is axiomatic that if a problem is attributed to a wrong cause, a wrong remedy will likely be applied, and the problem will not be solved. In all probability, the problem will grow worse due to the application of the wrong remedy. In human terms, this can lead to serious consequences, including death, if the problem is a serious sickness and a wrong remedy is being applied to it due to a wrong diagnosis, like mistaking cancer for malaria and using drugs for the latter to treat it.

These were the thoughts that came to me after reading the above quote on the back page of THISDAY of April 11, 2016.

Coming at a time when our entire power sector is facing such serious challenges that it can be said to be teetering on the brink, its type of indictment – of privatisation for the current problems in the power sector – though wrong in my opinion, is nonetheless useful, as it presents us with possible causes to eliminate as we troubleshoot the sector for the real causes and solutions to the problems.

And in no time is this quest to find the real cause and solutions so pertinent, I think, that in the wake of the recent well-publicised

outage in the sector resulting in zero generation for three hours, even though anyone conversant with the history of the sector as I can claim to be, having been involved with it in various capacities since 1985, would know that such an outage – more usually described as “system failure” – is not unprecedented, which is not to justify its most recent reoccurrence.

The quote also raises the issue of increase in tariff. And though I do not mean to address that controversial issue in this piece, suffice it to say that there is an argument for and against the increase in tariff. And the side we should take in the argument should be determined, I think, by whether we deem it desirable to make more sacrifices as individuals or groups towards the survival of the sector and nation’s progress by paying more for electricity consumption at a time of national emergency or whether we should rather insist on keeping the tariff at its present value even at the risk of the system suffering an implosion.

Besides, rather than take the extreme position of rejecting the new tariff in its totality, one may choose the middle ground of accepting it wholly or in part with a concomitant insistence on the beneficiaries, the government and the distribution companies (Discos), making commitments to improved service that will justify the increase, with specific timelines. That way, we can have an outcome with which both sides to the conflict – with the citizens and labour on one side and government and the Discos on the other – can be regarded as winners.

The new tariff may indeed be “a bitter

pill.” But don’t some effective medications come as bitter pills, and the process of curing sicknesses generally attended by discomfort for the sick as it might just have to be for our power sector at the present time, with the various signs of poor health it continues to exhibit?

But linking the new tariff and the claim that “there is no light” with privatisation in one breath as the quote does is a jumbling of unrelated things that can create confusion in the effort to determine how to improve the current power situation in the country.

And the problems associated with the misapprehension of the cause and possible remedy to the current power situation can grow worse when this sort of jumbling is accompanied by the demand – made in the quote – “that the entire process of privatisation be reviewed,” without giving any indication of what form the review should take.

And to suggest that “the privatisation might not work” – as the quote does – is to create the impression that whoever made the pronouncement does not understand that the privatisation, having been successfully concluded as a body of transactions by the Bureau of Public Enterprises (BPE) since 2013, and so having become a fait accompli, has already worked. However, whether in its aftermath the expectation of sustained improvement in power generation and availability to the generality of Nigerians has been met is a different matter, and it is evident that it has not.

However, with such ills as the vandalism of gas pipelines directly crippling power generation, it is clear that the quote’s blame

of privatisation for why “there is no light” is misplaced. And so its prescription of a review of the privatisation, apparently as a solution to the implied absence of light is, in all probability a recommendation of a wrong remedy resulting from a wrong diagnosis which is likely to worsen the symptoms as well as the suffering of the patient, the power sector, and Nigerians who depend on it for their power supply.

Curiously, the blame of privatisation in the quote – ascribed to the Nigerian Labour Congress (NLC) – originated exactly one month after the federal government attributed epileptic power supply to “sabotage” and “vandalism” in a statement issued by the Minister of Information, Alhaji Lai Mohammed, as stated in a publication in THISDAY of March 11, 2016, entitled “FG Blames Epileptic Power Supply on Sabotage, Vandalism.”

Thus, the clear evidence of vandalism – and its known causes – with other forms of sabotage – is partly why privatisation is not to blame for our current problems with power generation and supply.

But the question remains why some individuals and interest groups – even those that apparently have no knowledge or experience of the workings of the power sector – persist in blaming privatisation even after the government, which bears the brunt of the embarrassment caused by the problem, has taken a stand on what the problem is and declared its resolve to tackle it.

Oke was a staff of the National Electric Power Authority (NEPA) and Technical Adviser (Media and Communication) in the Presidential Task Force on Power

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T H I S D AY MONDAY APRIL 25, 2016

EDITORIAL ENDING MALARIA FOR GOOD There is still much to do to rout the malaria scourge

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s people across the world today mark the 2016 Malaria Day with the theme, “End Malaria for Good”, it is another reminder to the health authorities in Nigeria that this is still one battle that needs to be won, even when gains have been made in recent years. “While efforts to prevent, diagnose and treat malaria have gained important momentum over the past years, an annual shortfall in funding threatens to slow down progress, particularly across Africa where high-burden countries are facing critical funding gaps,” said a statement from the World Health Organisation (WHO)at the weekend.

As we have stated in the past, many citizens would gladly wish that the problem of malaria in Nigeria can be solved at the mere mounting of insecticide-treated mosquito nets. But with the environmental conditions and associated ailments, which have all combined to make malaria a scourge for both the young and old, especially the millions of pregnant women and young children under the age of five, the statistics of deaths from the disease COMBATING MALARIA remain startling high.

REQUIRES MULTIFACETED What makes the ACTIONS AND situation particuPARTNERSHIPS INVOLVING larly worrisome is that PUBLIC AND PRIVATE, there is a significant INTERNATIONAL AND CIVIL slowdown in global SOCIETY SECTORS funding of antimalaria campaigns which may roll back impressive gains made against the mosquito-borne disease over the last decade. In its World Malaria Report 2012, for instance, WHO noted that rapid expansion in global funding for malaria prevention and control between 2004 and 2009 levelled off between 2010 and 2012. Yet statistics revealed that malaria struck an estimated 219 million people across the world in 2010, killing about 660,000, mostly children under five years of age.

Not too long ago, the United Nations’ SecretaryGeneral’s Special Envoy for Malaria said that more

Letters to the Editor

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than 90 per cent of the world’s malaria deaths occurred in sub-Saharan Africa, adding that approximately $3.6 billion additional funding was required for anti-malaria programmes within region until the end of 2015. The funds that were garnered for combating the disease within the period in question were not anyway near that figure.

H T H I S DAY

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

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

EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, EMMANUEL EFENI, IJEOMA NWOGWUGWU GROUP FINANCE DIRECTOR OLUFEMI ABOROWA DIVISIONAL DIRECTORS PETER IWEGBU, FIDELIS ELEMA, MBAYILAN ANDOAKA, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTORS HENRY NWACHOKOR, SAHEED ADEYEMO CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI GENERAL MANAGER PATRICK EIMIUHI GROUP HEAD FEMI TOLUFASHE ART DIRECTOR OCHI OGBUAKU II DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: first name.surname@thisdaylive.com

owever, the situation is not all bleak. The World Bank has revealed that over the past decade, 11 African countries have reduced malaria cases by more than 50 per cent. The Bank has also reported steady progress in Nigeria. The National Malaria Control Programme is moving to increase access to malaria prevention, treatment services and community mobilisation so as to reduce the burden of the disease. However, combating malaria requires multifaceted actions and partnerships involving public and private, international and civil society sectors.

To the extent that defeating malaria is critical to ending poverty and improving maternal and child health, Nigeria cannot afford to lag behind and it is for this reason that we must commend the efforts of former President Goodluck Jonathan, whose foundation is partnering with an American based organisation, Moskeeto Armor, in the bid to protect children on the continent against malaria and other vector-borne diseases. “The simple principle of ‘Love your neighbour as you love yourself’ lays a foundation of commitment to protecting nations,” said Jonathan during the meeting with Moskeeto Armor in New York, United States at the weekend. “These crises caused by such small insects, transmitting these deadly diseases, have devastated so many lives across Africa and the world, but with one just as small idea, there is hope for a better tomorrow.”

As the world marks the 2016 Malaria day, with the most appropriate theme of ending the disease for good, the hope is that Nigerian health authorities will adopt the best possible strategy and partnership that will help in the efforts to eventually eradicate the scourge from our country.

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.

THE YOUTHS IN BOKO HARAM CONFLICT ZONE

here are quite a number of young people in the Lake Chad region (Nigeria, Niger, Cameroon and Chad) that are affected by the Boko Haram conflict. The Chibok girls are a good example.

The March 2016 edition of the monthly situation report by the National Emergency Management Agency (NEMA) and International Organisation for Migration (IMO) indicated that there were seven million people in need of humanitarian assistance in Nigeria, including 1.9 million displaced by the Boko Haram conflict. Some 92% of the internally displaced persons (IDPs) are being hosted by low-income host communities, bringing already stretched services and resources under increased pressure. The armed conflict has directly affected four states in the North East of Nigeria: Borno, Adamawa, Yobe and Gombe. The current humanitarian response covers all four states, with Borno State being the most affected and the epicentre of military operations and displacement of civilians. Thus, these areas have the largest number of young people affected by the war.

These young people are either forcefully indoctrinated, killed, forced out of schools; kidnapped as sex slaves; their local businesses and farm lands destroyed; separated from their relatives (parents); orphaned or their thought line affected by trauma of wars and poverty.

Furthermore, the young people in these Boko Haram conflict areas are faced with limited education opportunities, unemployment; unproductive jobs; HIV/AIDs crisis; the trauma of war; bad leadership and other forms of

violence. Though, some reports have shown that terrorists, Boko Haram inclusive, recruit young people via conscription, abduction or coercion, it is the lack of opportunities in their communities, poverty and illiteracy that most often lead young people into a life of violence and terrorism.

As peace is gradually returning to some of these areas and government of Nigeria is planning on how to smoothly return IDPs to liberated areas, the role of young people is critical in sustaining the fragile peace and long-term stability. Designing projects and programmes for community protection and avoiding future conflict in these communities cannot be successful without involving young people.

Young people in conflict zones cannot play their expected role without getting help and being involved in design and implementation of programmes and projects meant for them and their communities. Programmes and projects for young people in these conflict zones should be wellplanned and adequately funded and the young people should be given a sense of important stakeholders in such programmes and projects.

These programmes and projects should be carefullydesigned in such a way that there is a strong synergy between affected states of Borno, Yobe, Adamawa, Gombe including Bauchi, Taraba and the federal government, while also involving donor agencies and NGOs in the areas of funding, monitoring and evaluation.

The already existing humanitarian programmes and projects should be redesigned to give young people specific

roles. This will help in the development and reorientation of their minds. These young people essentially need reorienting because during conflicts, their nascent minds were exposed to various vices such as rape, kidnapping, torture, seclusion, trafficking and exploitation.

Recreational activities and creation of community centres in the liberated areas for young minds to interact and discuss issues are very critical to reintegrating them into normal communal living. They can also discuss issues and events while well-trained counsellors assist them in overcoming the trauma of the conflict.

Provision of basic services- healthcare, education, water supply, information on diseases such as HIV/AIDS, and basic agriculture extension services especially on gardening are specifically essential to young people in post-conflict zones in north-east Nigeria.

Young people in the Boko Haram war ravaged zones are strategic figures in efforts to reconstruct, rehabilitate and resettle their communities. A well-planned programme for them will fast track the healing of the scars of war, help to restore basic infrastructure and local economies, and returning these communities to their pre-war or even better conditions. However, collaboration between all the tiers of government, aid from the international community and the involvement of NGOs both local and international are as well very important in planning for young people in the Boko Haram conflict zone.

Zayyad I. Muhammad, Jimeta, Adamawa State

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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 Resurrection of Militancy A few years after a breather from their activities, Niger Delta militants appear to have returned to the trenches full time and against the government of the day, write Omon-Julius Onabu, Segun James and Emmanuel Addeh

MEND Militants on duty

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he Niger Delta militant is smart.

He can feel the pulse of the nation and knows where it hurts the most. Unlike his Boko Haram counterpart in the north eastern part of the country, he hardly shoots to kill, but his weapon is as potent as that of the terrorist lurking in the Sambisa forest of the North and whose action is limited to maiming his fellow human being.

The Niger Delta militant’s actions affect everybody – from the president to the man on the street. He knows where and when to strike and can almost predict, what effect his action would achieve. His mission: economic sabotage and he is very good at it.

In Bayelsa State, one of the four biggest oil producing states in the country, the activities of vandals have been on the rise in recent days after a long lull in the activities of the militants.

Although there seems to be resurgence in militancy as demonstrated by the enormity of recent damage to pipelines in Delta State and other parts of the Niger Delta, it is clear that no one has been able to lay his finger on the penetrators or understand the reasons for the renewed violence.

However, what can be deduced from the allegations and counter-allegations peddled by well-known former militant leaders in the region suggest that the factors responsible for the current situation range from economic or business interest to political and ethnic factors.

That was the situation a couple of months ago when the one of the most visible leaders of the dreaded militant groups, the Movement for the Emancipation of the Niger Delta (MEND), Chief Government Ekpemupolo aka Tompolo

was declared wanted by the Economic and Financial Crime Commission (EFCC) over allegations that he was involved in fraudulent multibillion naira contracts.

In a 40-count charge, the EFCC alleged that Tompolo and others were accused of laundering billions of naira, being proceeds of stolen and official corruption. Tompolo has never been around to take his plea.

Since the militants know the attitude of the Nigerian government to the killing of her

We are not deterred by such threats as we are highly spirited and shall continue blowing up pipelines until the Niger Delta people are no longer marginalised by the Nigerian actors. Yes, the military have sworn to lay down their lives to protect Nigeria. We have on our part sworn to do whatever is necessary to safeguard the interest of the Niger Delta people

citizens, they tend to go for where it hurts the most, the economy of the nation – oil production facilities.

Thus, following the declaration of Tompolo as wanted by the EFCC, his supporters were said to have taken to bombing of oil pipelines and other facilities that will draw the federal government to the negotiation table.

The latest attack was at the Escravos Terminal and Tank Farm owned by the nation’s second largest oil producing company – Chevron Nigeria Limited – which is located in areas close to Tompolo’s stronghold of Gbaramatu, a move which may have drawn the federal government finally to the negotiation table as the case against the former warlord has been stalled.

As envisaged by the militants, government had feared that an attack on the nation’s economic mainstay would lead to a dwindling in revenue from oil and that a cut in production due to militant activities might spell great doom for the nation.

Spurred by the helplessness of the government, a new militant group which called itself The Niger Delta Avengers has come out and threatened to make the country’s economy worse by acts of sabotage. The threat was made via a statement issued by the group in a response to comments made by President Muhammadu Buhari during his visit to China.

It threatened to make the country’s economy worse by acts of sabotage, particularly in the oil sector. While in China, the President had said oil saboteurs will be treated harshly like Boko Haram terrorists, a comment the group considers denigrating to the Niger Delta struggle and an indication that the federal

government considers oil more important than the lives of people of the Niger Delta region.

“The recent proclamation of the federal government to bombard the people of the Niger Delta, as stated in Beijing, China, is a clear indicator that President Buhari and his Northern brothers-led government scales the oil in the Niger Delta far more important than the lives of the Niger Deltans,” the group said.

As a proof of the Niger Delta Avengers potency, the group cited the visit of VicePresident Yemi Osinbajo and Governor Ifeanyi Okowa of Delta State to the Forcados Terminal, where they inspected the SPDC 48 inches export pipeline, which it claimed to have blown up.

“They never cared to see for themselves what the natives (Ogulagha people), the host community are going through in the hands of SPDC as a result of the oil and gas exploration for decades. Ogulagha community is just one of such cases across the Niger Delta,” the statement added.

The militant organisation explained that the decision of the government to send the Minister of Environment and the Vice-President on a visit to the Forcados Terminal after it was blown up shows the importance of the facility to the economic well-being of the country.

“Bonny Export Terminal, Bonny Island in Rivers State, Chevron and Ugborodo Community in Delta State are the heartbeat of Nigeria’s economy, but they are all facing same hardship as the Ogulagha community, which hosts the Forcados Terminal.

“It is a slight on our struggle and quite embarrassing for Mr. President to liken us CONT’D ON NEXT PAGE

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POLITICS/ THE MONDAY DISCOURSE T H E R E S U R R E C T I O N O F M I L I TA N C Y This is not the first time there will be a faceoff between the federal government and militants, just as it is suspected to be happening now, the government had in the past been forced to do the bidding of militants just for the oil to continue flowing to his kinsmen (Boko Haram), who are hellbent on swimming in innocent blood until they Islamize the nation,” added the Niger Delta Avengers.

The organisation also accused the President of deliberately ignoring the menacing activities of Fulani herdsmen, but paying attention to pipeline vandalism, which he wants to use as a pretext to punish the Niger Delta Region.

This, it argued, provides further proof that the government values oil more than the wellbeing of the people of the Niger Delta. While claiming it takes no pleasure in violence, the group said it would continue blowing up pipelines to protest the marginalisation of the Niger Delta.

It dared the Presidency to do its worst, saying: “The Presidency can go ahead and setup a permanent security force, as stated by the Vice President when he visited the SPDC, Forcados Terminal. We are not deterred by such threats as we are highly spirited and shall continue blowing up pipelines until the Niger Delta people are no longer marginalised by the Nigerian actors. Yes, the military have sworn to lay down their lives to protect Nigeria.

We have on our part sworn to do whatever is necessary to safeguard the interest of the Niger Delta people.”

The group also invited the attention of the federal government and the international community to the plight of the Niger Delta people and alleged that other forms of pipeline vandalism are encouraged by officials of the Nigerian armed forces.

“We want the general public to note that the Nigerian Armed Forces collects three Naira per litre of the sum accruing from the total number of barrels loaded by any vessel in all illegal bunkering activities referred to as ‘black oil business,” it claimed.

It followed this up with a piece of advice to the Chinese government and the international community that any country that lends Nigeria money is doing so at its own risk.

“There will be no litre of crude oil to service the loan deal they planning to do. This also goes to the international oil companies in the country to adhere to our warnings and advise the federal government to heed our demands, especially the development of the Niger Delta Region,” the group concluded.

But President Muhammadu Buhari has vowed to deal decisively with the seeming resurgence of oil theft, vandalism of pipelines and insecurity in the Niger Delta.

This is not the first time there will be a faceoff between the federal government and militants, just as it is suspected to be happening now, the government had in the past been forced to do the bidding of militants just for the oil to continue flowing.

But the most visible of all the ex-militants is Tompolo, who has in recent time been under the radar of the federal government. Tompolo had in an open letter to President Muhammadu Buhari in January this year titled, “Beware of members of your political party”, washed his hands off complicity in the series of attacks on oil facilities particularly in Delta State.

He alleged that certain desperate politicians, lawyers and businessmen in Delta and Bayelsa States were actually the architects of the resurgence in militancy that has manifested in series of attacks on pipelines and other oil installations and facilities in the region.

Specifically, Tompolo claimed that this set of avowed enemies of his were “hell-bent on linking me to the renewed vandalisation of oil facilities in the Niger Delta region, whereas they are the ones carrying out the act to smear my name.”

He noted that he did not reneged on his promise to President Buhari during a visit

Another group of militants on red alert

Tompolo...still battling survival

to him at the Presidential Villa in Abuja, that he would support the government to promote peace in the Niger Delta to enable the government carry out the desired development of the region.

But his enemies appear to be taking advantage of his current problem with the Economic and Financial Crimes Commission (EFCC) to further blackmail him by claiming he was responsible for the recent attacks on oil facilities through alleged media orchestration.

The erstwhile MEND leader insisted in several other statements that certain individuals from the Itsekiri and Urhobo ethnic extraction as well as others from his Ijaw ethnic group allegedly, sponsored by certain politicians from Delta and Bayelsa States, were trying to settle scores because of failure or refusal to grant them certain favours they had sought from him earlier.

The grounds for the grouse, he pointed out, included inability to secure certain contracts especially in the oil and gas sector and various positions in government and even in traditional institution.

“As for the members of the party from my local government area, Warri South-West, they have been involved in illegal bunkering and oil theft activities over the years, which I have been fighting against because of love for country. They know me as a-no-nonsense person. There is this particular one from the same Gbaramatu kingdom with me that has sworn to kill me because I refused to manipulate the ascension to our traditional stool in his favour, when he was not even qualified for it.”

Despite the picture painted by Tompolo that he was being unduly persecuted and a victim rather than the aggressor, his name has continued to resonate in the unending activities of militants and vandals in the Niger Delta, especially in Bayelsa and Delta States.

But regardless of these assurances from the former warlord, attacks on oil installations have continued to rise. Investigations in the area show that despite the continuation of the federal government’s amnesty programme, some key oil infrastructure attacked this year alone include the Nigeria Agip Oil Company (NAOC) pipelines in Brass Local Government Area, of Bayelsa State.

The attack was said to have targeted the pipelines located along Orukari, Golubokiri and Kpongbokiri communities in Brass.

Also, a crude oil pipeline belonging to Shell Nigeria Exploration and Production Company (SNPECo), supplying crude to Egbomoturu Flow Station in Southern Ijaw local government area of the state was bombed earlier in the year.

Just outside the state, the militants have also blown up the Chevron Nigeria Limited pipelines feeding the Abiteye flow station and another pipeline conveying gas from Escravos to Warri, Lagos and Abuja belonging to the Nigeria Gas Company (NGC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), also attacked by the marauders. Oil pipelines were also attacked at different points along Opudebubor, Okpelama and Kpokpo area, Chanomi creek and Sahara.

There is no one reason as to why the menace has increased as those who spoke with THISDAY did not agree on why there has been a significant rise in the attacks of oil facilities in the Niger Delta. But many know that though the bombings predated President Muhammadu Buhari’s government, his disposition to the use of force to resolve the Niger Delta imbroglio is not helping matters.

In 2006, the government of Chief Olusegun Obasanjo was forced to replace the commander of the Joint Task Force on the Niger Delta, Brigadier Elias Zamani by Tompolo. But the situation changed when President Umar Musa Yar’Adua took over.

Flashback to 2009 Whatever prompted Tompolo to order the arrest of 11 soldiers and an officer of the Nigerian Army, who were on routine patrol along the Escravos River, nobody can say.

After all, the military men are aware of his Camp 5 republic. There had been a mutual understanding to avoid each other following a detente between the federal government and warlord in 2006, when the government removed a JTF commander to please the militants.

The military as a deliberate policy do all they could to avoid all confrontations with the warlord and his army of militants. This was the situation until things got to a head in 2009, when the militants overreached themselves.

But like any other evil day, the militants from Camp 5 waylaid two patrolling gunboats of the Joint Task Force (JTF) and arrested the 12

soldiers before matching them before their leader. That was the last that was heard of the soldiers, but for their gunboats which were later traced by a civilian helicopter belonging to an oil company operating in the area to a swampy creek behind Camp 5, nobody would have known what befell the men.

The same day, two Ships – a cargo and an oil tanker – heading for the Warri port were hijacked and forced into the narrow creeks by the militants. The cargo ship was laden with oil installation equipment which was of little value to the militants. It was allowed to leave later. But the other, MC Spirit, which was taking Premium Motor Spirit (PMS) to the NNPC jetty from where it would be pumped to the northern parts of the country, was detained.

The ship had a twenty member crew made up of 16 Filipinos and four Nigerians. The ship had hardly passed through the Escravos Bar into the river by Okerenkoko when trouble started.

Militants in three speed boats fired shots at the ship in order to force the captain to stop. Realising the kind of cargo on board, the captain lowered the gang way for them to come aboard. As soon as they enter the boat they started beating the Filipino captain, who had identified himself. He was soon matched away from the boat with two others into Camp 5.

According to Mr. Hakeem Olaniyan, one of the four Nigerian crew members, about ten fully armed militant were stationed with them until the next day when two 5000 metric tons capacity barges were brought to start siphoning the fuel from the ship. Later in the night, the remaining 13 Filipinos were matched to Camp five leaving only the four Nigerians and the militant guards on the ship.

Early in the next morning, four new barges were brought to continue the siphoning of the fuel. But about mid-day, words came that military gun boats have been spotted coming towards the camp.

Olaniyan said that all the militants suddenly left the ship and before long, about 13 boats with at least 10 persons each took off towards the military boats that were approaching the camp.

“We are at the highest part of our ship watching as the boys moved towards the soldiers shooting. Suddenly, the soldiers’ boats turn back. We were surprised as we watch the militants pursued them before turning back towards the camp in jubilations.

“All of a sudden, military helicopters arrived from nowhere and they started blowing the boats out of the waters. It was the most horrific thing I have ever witnessed in my life. In less than five minutes all the boats and their occupants were gone, blown to bits. As we look, the military boats started coming back, approaching the camp.

“To our horror, they started shooting, we were afraid as the siphoning was still going on and this may ignite and blow us all out of the waters. Then the Filipinos were brought out CONT’D ON NEXT PAGE

18

T H I S D AY • MONDAY, APRIL 25, 2016

POLITICS/ THE MONDAY DISCOURSE T H E R E S U R R E C T I O N O F M I L I TA N C Y to the waterside by the boys as the helicopter was raining fire over the camp.

“We thought that this will stop the soldiers, but they continued shooting at every body.

They took off – Filipinos and all. We were on the ship with nowhere to go. The soldiers entered the camp, after about one hour or so, the shooting stopped. They brought some of the Filipinos out of the forest where they had run to. Some of them had gunshot injuries.”

The surprise attack on Camp 5 met little or no resistance, which proved to the military that the invisibility of Tompolo was media hype like the weapons of mass destruction attributed to Saddam Hussein by the Americans.

However, it was a bloodbath along the Escravos River on the fateful day as no less than 200 persons including men, women and children were killed. Camp 5 was laid to ruin with no living thing left alive. The military invaded the camp in 14 gunboats aided by four helicopter gunships in an operation which military spokesman, Col. Rabe Abubakar called “condone, search and rescue mission.”

It was a one way battle. The militants had no chance. It was like using a sledge hammer to kill a fly. To a visitor to the infamous Camp Five located barely five nautical miles from the Escravos Export Oil Terminal and Tank Farm, it is just another community in the Niger Delta.

Located on the bank of the Escravos river on the only navigable side of the over one kilometre wide river, a situation that made all users of the river to the Warri port at the mercy of the lords at Camp 5, who determine who passes at any time to and from the Warri port, including war ships belonging to the Nigerian Navy!

Before 1999, Camp 5 was actually a camp built and operated by the Bilfinger+Berger Oil and Gas Company (B+B), a subsidiary of Julius Berger Nigeria Plc. The camp was used to house both the expatriate and Nigerian senior staff of the company.

Camp five was built with houses in five row, besides the utility buildings, which houses two massive 5000 kva generators, water treatment plants and the beautiful camp club house which helps the oil workers to let off steam in the deep mangrove forest.

B+B was then working on the Odidi Integrated Gas Project, when the Warri Crisis began. At the beginning, things were working smoothly until the area became too hot for the comfort of the expatriate oil workers and they decided to demobilize and move out of the area completely.

But this was at a time Tompolo was gaining notoriety as a militant leader in the area. He asked the company officials to move out in peace but leaving everything in the camp as it was. The shocked officials of the company, some of whom had experienced a dose of the ruthlessness of the militants quickly left.

Tompolo and his men moved in. They retained the original name of the camp and soon expanded it as his army grows. Because it was at an open area, a situation which made his bunkering operation exposed to everyone that plies the river. Tompolo moved that operation to the Iroko Camp.

Today, Camp 5 is no more. The camp which has hosted a serving Vice President, some governors and a large number of government officials both at the federal and state level has been levelled and turned to rubbles under the mighty boots of the Nigerian Armed Forces.

Fast Forwards 2016 Now, Tompolo is on the run, a fugitive from the long arms of the law as he has been declared wanted by the federal government.

The activities of the militants have also forced oil companies operating in the area, especially Chevron and Shell to begin the immediate closure of their oil production activities in the Niger Delta.

With the new situation, the nation has continued to lose over 250,000 barrels of oil production per day, a situation which forced some of the oil companies to declare Force Majeure on oil supply from Nigeria.

Many people in the region consider the president’s statement recently in China to bombard the region and treat suspected crude oil vandals like Boko Haram terrorists as a denigration of the supposed Niger Delta struggle and an indication that the federal government considers oil more important than the lives of people of the region. That aside, the spike in pipeline vandalism and associated crimes, just a few days after the federal government filed charges against Tompolo, may not be a mere coincidence.

Analysts opine that whoever is sabotaging the pipelines is doing so to get the federal government to make more concessions to the ex-militants, as a result of the intention of government to wind down the amnesty

Former Governor Emmanuel Uduaghan inspects Camp 5 after the 2009 invasion by the military

An imposing view of Camp 5 from the gate

programme and its decision to prosecute known leaders of the struggle, who have breached the law.

But leader of the Ijaw Peoples Development initiative, Comrade Austin Ozobo, who was actively involved in the struggle leading to the granting of amnesty to the youths of the region, disagreed.

Ozobo believes that if nothing else, the deprivation, hunger and what he described as a total neglect of the oil-producing region is responsible for the increasing destruction of crude oil platforms in the Niger Delta.

Reminded that the neglect and lack of development have always been there, even when President Goodluck Jonathan was in Aso Rock, which fuelled rumours that the boys went back to the creeks because their ‘brother’ was defeated in the last election, the IPDI leader noted that the suffering in the region has never been as bad as what obtains today.

“It is out of joblessness, frustration, the poor treatment and total neglect of the region. We produce the national cake but there’s nothing to show for it. The grievances are growing and that’s the cause of the sabotage that you see around. You wouldn’t hear about any of our youths or intellectuals mentioned when they discuss the oil sector. People are not happy, so they don’t feel a sense of loss when they destroy these platforms,” Ozobo said.

According to the ex-agitator, the youths bombed the facilities because they are not benefitting from the oil in their land. “Until the government develops an enabling environment and engages the youths of the region, nothing will work.

“Abacha killed Ken Saro Wiwa thinking it will end the trouble; ex-President Olusegun Obasanjo demolished Odi, it didn’t work; They caged Asari (Dokubo), it didn’t work; they killed John Togo, it didn’t work and now the next target is Tompolo and it will not work,” he fumed.

On whether the prosecution of Tompolo will increase the tempo of vandalism, Ozobo said, “The so-called prosecution of Tompolo is not responsible (for the fresh armed struggle).

Even if they kill him today, the trouble and

struggle will continue,” he concluded.

Dr. Godwin Uyi Ojo, Executive Director, Environmental Rights Action/Friends of the Earth, Nigeria (ERA/FoEN), a group of environmentalists advocating a better deal for the poor people in the region, also aligns with Ozobo.

“First and foremost, the poverty level in Nigeria and indeed in the region is very high, though beyond that, pipelines vandalism is economic sabotage. Oil companies should stop criminalising local people, when they make demands. The amnesty programme was never going to be the solution. The surveillance contracts, instead of being given to the youths of the area, were given to militants.

“These poor people have been subjected to years of degradation and injustices. The PIB should address this. The amnesty programme was faulty from the beginning. It was to reward the armed rather than the majority of the people. Entrepreneurs of violence were the major beneficiaries. It was just a stopgap; it did not and will not solve the problem.”

Spokesman of the of the Joint Taskforce, Operation Pulo Shield, the security outfit constituted by the federal government to deal with the issue of pipeline vandalism and associated crimes in the region, Col. Isa Ado, told THISDAY he wasn’t willing to speak on the renewed activities of militants in the region.

“I just came to town after an assignment. I am not in a position right now to speak on the fight against insurgency in the Niger Delta,” he said. But whatever the reasons for the fresh hostilities in the region, from where almost all the revenues for running the country comes, pundits opine that deploying military force in the area which has not worked in the past, will still not work this time.

Tokenism, which the amnesty programme is believed to represent, will also not solve the problem, not even supporting another politician from the region to become president will as has been shown by the defeated immediate past government.

It is widely held that only a systematic, well thought out and a meticulously implemented development plan will reduce the growing

tension in the strife-torn area, easily Nigeria’s goose that lays the golden egg.

According to a close aide of Tompolo, the camp of the embattled ex-MEND leader has continued to deny any involvement in the perceived renewed pipeline vandalism or the specific reason for the development.

“We do not know the reason there is an apparent resurgence of militancy in parts of the Niger Delta. In fact, we are not aware of any trouble in the Niger Delta region. All we clamour for is peace and tranquility, which will bring about growth and development to our dear country.”

Another former militant leader and selfstyled ‘General’ said the new challenges might not be unconnected with the “shabby treatment of ex-militants by the federal government through the Amnesty Programme despite everything we have done to cooperate with them for security in the Niger Delta.”

He claimed that amnesty office has not paid those on the payroll of ex-militants even though President Buhari had stated his desire not to abandon the amnesty programme instituted by the administration of the late President Umaru Yar’Adua, which many believed had created a relatively peaceful atmosphere in the oil-rich region.

The ex-militant leader stressed that he had been finding it “difficult to control my boys, who are under me under this amnesty thing because the amnesty office has not been doing very well; they’re not ready to give us the monthly stipend.”

Another aspect of this discourse that could not be wisely ignored is the persistent complaints from non-violent agitators in the Niger-Delta about the priority attention the government has given to the “repented” violent agitators.

It would appear that the national security agencies in the region have been cautious in dealing with seeming resurgence of militancy amid threats by the federal government to adopt tougher measures against pipeline vandalism by setting up a special security outfit on pipeline protection and deploying “more sophisticated weapons” in the oil-rich region.

It is, perhaps, noteworthy that some influential individuals and businessmen as officials of the Delta State Government were prevented from joining the entourage of the Minister of Defence and service chiefs, who visited Delta after the pipelines blown up with explosives in January. The point of attack was at Egwa 11 located in Warri South-West Local Government Area of Delta State.

The Minister of Defence, retired BrigadierGeneral Mansur Mohammed Dan-Ali, was accompanied on the January 18, 2016 visit by the Chief of Defence Staff, Major-General Abayomi Gabriel Olonishakin, Chief of Naval Staff, Rear Admiral Ete Ekwe Ibas and other senior military personnel.

This is apparently in the light of the claims and counter-claims by certain individuals vis-à-vis the allegations made by Tompolo even before the bombing of the strategic oil pipelines.

Thus, the defence authorities are ostensibly wary about the integrity and innocence of some of influential personalities and businessmen even though they were enjoying close relationship with the security personnel, including those attached to the joint security task force, code-named Operation Pulo Shield.

CONT’D ON NEXT PAGE

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T H I S D AY • MONDAY, APRIL 25, 2016

POLITICS/ PERSPECTIVE

This Too Shall Blow Away Former Governor Babatunde Raji Fashola’s record will always speak for him, attempts to rewrite history notwithstanding. Hakeem Bello writes

“B

ut overall, Lagos is far ahead of most states and the federal government on service delivery and provision of infrastructure. It is not generally acknowledged, for instance, that the entire country owes Lagos a debt of gratitude that the Ebola virus has been so effectively contained. If the Liberian, Thomas Sawyer, had entered the country through a state with a less alert and effective government, you can imagine what a terrible disaster it would have been for the whole country.”Segun Ayobolu, Back Page 13th Sept, 2014.

After reading the piece by my respected colleague and friend on the Back Page of The Nation on Saturday 9th April, 2016, I came to the conclusion that something must be amiss. While it may be difficult to unravel what could be going on, it should be possible to at least set the records straight on an administration in which the writer also served diligently until he left on “health grounds” sometime in 2010 but whose Team Captain he has effectively taken to the cleaners in an attempt to undertake a one year assessment of the current Governor of Lagos State, Mr. Akinwunmi Ambode.

In doing so, I chose to start with a quote from a previous piece of Mr. Ayobolu, because it goes to the heart of the revision of history and unpardonable contradictions, which he chose to dish to his readers last Saturday. Mr Fashola, the “unknown quantity” was unable to deliver a wider margin for his successor because of his “disconnectedness” with the citizens and “elitist pursuits” including planting flowers and concentrating on certain elite parts of Lagos, Mr. Ayobolu argues.

Staying only on the narrow path of verifiable facts and figures, I wish to humbly state that the perception of elitism is only the myth of new revisionists because for every project in the elite part of town are several others in Agiliti, (where the administration delivered good quality road bridge), several drainage and road projects in Agege, Alimosho, Shibiri, Etegbin and others. For ease of location, Agiliti is at the back of the Mile 12 Market, where the recent unfortunate clashes occurred.

During the campaigns in 2007, it was Fashola “the unknown quantity”, who went there to campaign and was asked to make the swampy gulf between them and Mile 12 navigable for their boats. But he felt that as residents of Lagos, they deserved more and that if elected, his administration would provide them with a road complete with a bridge over the swampy gulf.

For the benefit of the former Special Adviser on Information and Strategy to Mr. Fashola and his readers, a lot more happened in every part of Lagos, especially the “non-elite” areas, during the two tenures of the man, in whose administration he also served but which current exigencies may not permit him to associate with.

Taking the bearing from 2008 to 2011, records show that the Fashola administration completed no fewer than 557 or 213.92 kilometres of roads across the state while over 348 others, translating to 194.724 kilometres of roads, were at different stages of completion by the end of that period. These roads include the OkotaItire Overhead Link Bridge and Road works, Ajah-Badore Road; LASU-Iba Road in Ojoo; Old Ota Road Phase II, Agodo Community Road, Shasha Orisumbare Street and Ejigbo Association Avenue in Ikotun; and Ijegun-Isheri Oshun Isolo Roads.

In the Agege Local Government Area, the roads which were constructed or rehabilitated during that period include Balogun Street; Shodipo Street; Oniwaya Road; and Humuani Adetona Street, while in Ajeromi-Ifelodun Local Government Area, Mobil-Boundary Road; Olumokun/ Olayinka/Sanusi/Oduduwa Streets; Wilmer Crescent; Akpirin Street; and Wilmer/Osho Drive were constructed/ rehabilitated.

The Abule-Egba-Agbelekale-Meiran Road; Moshalashi to Isheri Roundabout; and Rufai/Yekini/Church Street, among others in Alimosho also benefited from the massive construction works.

Fashola...moving on to bigger posting

In Amuwo Odofin Local Government Area, roads constructed or rehabilitated include Ago-Palace Way Extension-Phase 1&2; Amuwo Odofin Bye-Pass; Omotayo Omotosho/OpemIpo Olusegun streets; and Amuwo-Odofin Festac Link Road while some of the roads constructed/ rehabilitated in Apapa Local Government Area within the period include Apapa CBD Phases 1&2; Adekunle Deen Road; Ireti-Owoseni Street; Fadiani Street; Badia; Mosalashi Street; and Gaskiya-Badia Road Bridge.

In line with its promise to turn its attention to the inner-city roads, the Fashola administration in 2012 began massive construction, reconstruction and rehabilitation of inner-city roads and bridges across the state including in Ajegunle and Orile-Iganmu to connect communities that had for many years been separated.

From 2012 to 2015, a total of 362 roads representing 353.255 kilometres freshly built and 3,320 representing 673 kilometres that were resurfaced or rehabilitated across the state. They include roads in Agege Local Government, Alimosho, Badagry,Epe, Ibeju Lekki; 22 in Ifako-Ijaiye; 10 in Ikeja; 17 in Ikorodu; 25 in Kosofe; 29 in Lagos Mainland; 20 in Mushin; 8 in Ojo, Oshodi-Isolo, Somolu; and Surulere.

On a single day on Tuesday, December 10, 2012, Fashola handed over a total of

A lot more happened in every part of Lagos, especially the “non-elite” areas, during the two tenures of the man, in whose administration he also served but which current exigencies may not permit him to associate with…Deliberately, the projects in the more popular sides of the state have been left out but there is still a lot to list.

The fact is that no amount of revisionism would erase the hard work put in by Fashola and the men and women, who served with him and some of whom are even still serving the state.

16 roads to the Mushin community and barely a month later, he was in AjeromiIfelodun Local Government Area to hand over the 2.68 kilometre Alaba/ Cemetery Road to the community.

Apart from road projects there are also the Maternal and Child Care Centres, Markets, Jetties and other projects that touch the lives of the people. Besides uplifting the living standards of the people, the projects also create jobs for the teeming unemployed. Deliberately, the projects in the more popular sides of the state have been left out but there is still a lot to list. The fact is that no amount of revisionism would erase the hard work put in by Fashola and the men and women, who served with him and some of whom are even still serving the state.

Unfortunately, the anxiety of Mr. Ayobolu to put one down in order to praise the other person would not let him realise that the underpinning philosophy behind the advocacy part of the Climate Change and allied activities like beautifying the environment, waste recycling, empowering the Lagos Waste Management Authority to be effective and increased general level of sanitation among the citizenry, helped to overcome the Ebola pandemic for which he acknowledged that indeed there was an effective leadership in Lagos.

Indeed, if the records showed that 92, 000 people comprising artisans, seedling sellers, horticulturists and others in that value chain became engaged and if hideouts hitherto used to perpetrate crime became converted to Parks, it beats the imagination as to why the driving force (or please pardon me – “the unknown quantity”) behind the initiative should be pilloried so hard.

As the local representative of the grassroots, who in late 2014 agreed that Fashola provided an effective leadership in rallying the team that confronted Ebola, Ayobolu has a strong affirmation in the International Crisis Group, who in October 2015 found the former Governor of Lagos State worthy of the Stephen J. Solarz Award. However, Fashola dedicated that Award to the teeming public servants of the state and his team members, five of whom were in attendance and publicly acknowledged at the event.

The citation of the Award re-echoes the Ayobolu of September 2014 and not the politically expedient revisionist of 2016. It goes thus: “Nigeria’s Lagos State Governor from 2007 to 2015, Mr. Babatunde Raji Fashola has worked tirelessly to improve social and economic conditions in Africa’s largest metropolis. His commitment to good governance as a strong defence against civil violence and conflict has not only won him numerous accolades, but helped Lagos avert tragedy by halting the spread of Ebola and improving public safety. His vision for Lagos, and his drive to improve infrastructure, increase education rates, fight corruption, and improve security, has set a new standard of leadership in Africa’s most populous nation and beyond.”

It has become almost a fetish for anyone seeking to carpet the “unknown quantity” for any imaginable infraction to accuse him of not acknowledging his illustrious predecessor, Asiwaju Bola Ahmed Tinubu enough, using his blueprint for Lagos without paying “copyright” or even at another extreme stealing and commissioning already existing projects without acknowledging so.

Quite strangely, Mr Ayobolu, who should know has simply rolled all of the fallacies into one in his lampooning of Fashola over the BRT. His fiction: “Again, Fashola on assumption of office took off on a soaring note with the inauguration of the Bus Rapid Transport (BRT) scheme. But then, Tinubu had deliberately refused to launch the scheme to allow Fashola take the glory. In reality, work had begun on BRT scheme including the various metro lines when the Lagos Metropolitan Area Transport Authority (LAMATA) was inaugurated with the support of the World Bank.”

The fact is that no one disputes the BRT as Asiwaju Tinubu’s vision, being driven through Dr Dayo Mobereola and Mr.

Tijani in LAMATA. But it was a work-inprogress as at the time of handing over. It is unfortunate that Ayobolu would seek to rewrite history so soon.

Just as he has done as Minister by acknowledging the projects he met at the Ministries he now superintends and chose the ones considered priority with his team, Fashola not only readily acknowledges that he was running a government of continuity in Lagos but was graceful to invite his predecessor and rode with him to the commissioning of the BRT. In the speech, he read on the occasion on 17th March 2008, Fashola stated as follows: “As a government, we are bringing hope to the people by building on the accomplishments of the preceding Administration and taking concrete steps to arrest the chaos that had characterised our public transportation system. The immense challenge in the sector is best illustrated by our road transport system, which daily carries about six million passengers between the Lagos Mainland and Island in rickety buses that pose great danger to our teeming populace.

“It is for this reason that my administration has continued with the implementation of the inter-modal transit option, part of which is the introduction of the Bus Rapid Transit (BRT) by LAMATA.” For claiming that he was unaware that Fashola left any such legacy projects for the current administration, Ayobolu’s knowledge must indeed be very poor because if Governor Ambode commissioned the expanded Mile 12-Ikorodu road in November 2015 along with 430 new buses, it is tantamount to sheer hypocrisy to say nothing was handed over. The Ipakodo road and Awolowo roads were ready just as the opening of the new Apapa Amusement Park was scheduled but Fashola directed that the event be stepped down and slated for the then incoming Governor.

There is a tendency to see major transitional junctures as a show of individuals, but in reality, it’s one government handing over to another. As a government, no less than 200 projects – completed, nearly completed and ongoing – were handed over to the new administration including the headline projects like the Lagos Light Rail project.

The bridge was virtually ready just as the Adisa Ajibulu road works and bridge linking Mafoluku to the Airport road in Oshodi Local Government.

There was also massive housing construction going on at Ilubirin, Ibeshe, Igbogbo, Gbagada Phase 2, Mushin, Sangotedo, Akerele Phase 2, Oko Oba and others.

Apart from brick and mortar, there were also useful institutions of government left behind like the Lagos State Electricity (LESB) currently being used to light up Lagos on Independent Power Plants left behind, the Public Works Corporation (PWC), the Lagos State Security Trust Fund (LSSTF), the Safety Commission, the Building Control Agency and the retooled Fire Service among others.

Irrespective of whatever Ayobolu or anyone for that matter may choose to believe that could have been responsible for the level of bile ventilated last Saturday, Fashola in his private and public conversations speaks positively about the state government because he believes there could be only one Governor at a time, who should be given all the support to succeed.

As minister, it was the honour of Fashola to defend and secure the Federal Executive Council’s approval of the next tranche of $200 million World Bank loan for the completion of the Light Rail Project and other infrastructure projects. The $600 million loan was approved by the World Bank for Lagos during Fashola’s tenure as the Governor specifically to support his infrastructure initiatives. It has also been the responsibility of Fashola as minister to approve the application of the Lagos State Government, through its Ministry of Transport, for the open land at Oworonshoki on its merit without any fuss.

NOTE: Interested readers should continue on the online edition on www.thisdaylive.com

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MONDAY, APRIL 25, 2016 • T H I S D AY

FEATURES

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

Breaking Language Barriers Ayodeji Rotinwa writes on his experience in Cotonou, the commercial capital of the Republic of Benin

Arriving at Ganvie Lake Village

T

here can be victory in an extra tomato. I learnt from my mother how to obtain in a market negotiation, an added pair of socks, more foodstuffs to thicken the soup, an extra tuber for a more lavish Sunday breakfast of yam and eggs after church.

We would arrive at Ogba Sunday Market, making our way to where the fruits and vegetables sellers congregated, usually stopping at the first one on the row, but after my mother must have scanned everyone’s faces for telltale signs of tribe, ethnicity. The sellers were usually Yoruba. To start, my mother would share greetings and wishes, in the language, asking after the children, husband, and last week’s profits.

She would continue to the weather; how it rained heavily last night, and did you hear on the radio that Ajejunle was flooded to the knees? She would then pick at one or two items on display. Let’s say they are tomatoes. She would congratulate the seller on fetching such kingly looking fruits; how red they are, how robust. The seller, by now, would be warmed by this kinswoman, happy for this conversation break from the labour of arranging tomatoes in pyramids on rusty tins and fanning away wayward flies with straw fans.

Then the question, ‘how much?’ No matter the price offered, it was never satisfactory. My mother would cut the seller’s asking price in half. The seller doesn’t know it yet but my mother has the upper hand. They would go

back and forth on prices. My mother would then ask the seller where she’s from. If she is familiar with it, she would exclaim and speak the strain of Yoruba local to the seller’s origin.

She will insist she and the seller may even be relatives, with much in common, most of all the spoken tongue. She would then go full force in the local dialect, ‘my customer’, ‘my price is good’, ‘we are speaking the same thing’. When my mother is done, she would have in hand tomatoes at the price she set out for, or less. She will ask for an extra one.

Languages are a bridge. To close the gap between differences; to feel familiar, like home, even if momentarily; sometimes, to gain an advantage in a market price tussle and win an extra tomato. This was the case with me

Thanks to Google Translate, I was my mother’s son.

I was miles away from home, in a country with a different tongue and I was ‘stealing’ bargains, getting things done. I felt oddly triumphant

a week ago in Cotonou, a city where French is the language for everything. I do not speak French but through Google Translate I did.

Google West Africa recently organised a four-day trip for a few media personnel to Cotonou, one of Benin Republic’s major cities; to experience how the search engine service and its applications can be a travel assistant while abroad. With the Google Translate was it ever! We were tasked with putting the language translation app to use in a real life scenario. We were sent into the market with some money (CFAs), a recipe written in French and a phone – the palm-sized Google Nexus - that had all of Google’s apps, for the exercise. The goal was to decipher the recipe, negotiate and purchase ingredients for a dinner of fillet fish in batter and a vegetable salad and report back with the correct change.

While using French.

With the market women, sceptical that the app would work, I first tried broken English, some sign language and some Yoruba (it is widely spoken amongst some in Cotonou). I was not getting the kind of deals my mother would be proud of. I turned to the app.

For the recipe, I held my phone over the list, with the Google Translate inbuilt camera running. With the camera panned to the paper, the words translated themselves to English, on the phone screen. Like the kind of thing JK Rowling writes about. Having figured out what to buy and what to ask for from the sellers, it was time to negotiate. Over the

course of that, I typed out ‘Please’,‘I have only 500 Francs’,‘That is too small’,‘Add one more’, on the app and the French translation and pronunciation appeared. Eventually, one seller softened (they are hard bargainers when they know you don’t speak the language!) and rewarded my efforts with an extra tomato.

Thanks to Google Translate, I was my mother’s son. I was miles away from home, in a country with a different tongue and I was ‘stealing’ bargains, getting things done.

I felt oddly triumphant.

Google Translate wasn’t the only assistant on the trip. While there, the motley travel group that was the media, event planners and the Google representative, its West Africa Communications Manager, Taiwo Kola-Ogunlade, visited Benin’s Republic’s famed tourist sites, which happened to be far flung apart. We travelled by mobile cabin, which had convertible chair beds, an actual bed, tables/study area, a microwave, a fridge bursting with soft drinks, water and Ribena, a tour guide and most mercifully, a toilet. We started at Cotonou’s Sacred Forest, in Ouidah (L’Iroko Benin), a green expanse of great trees, dry brown, crunchy leaves on the floor, populated by statues of supposedly industrious gods who would offer you riches, artistic inspiration, heal wounds, smite your enemy, quicken the arrival of late offspring or bless you with longer erections.

With the Google App, commanded by my voice, rather than typing, I could confirm the tour guide’s information as he shared it. It

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FEATURES

The tour group being welcome into Ganvie Lake Village with a dance

Commerce in the lake, at Ganvie Village

The King’s Palace, Porto Novo

The tour group at the UNESCO site and slave monument, ‘The Point of No Return’

With Google Maps and Google App, I could calculate journey and arrival time and find out where exactly I was, down to street name.The apps use a satellite navigation technology that can zero in on your location, where your phone is sending signals from

proved to be a fine resource for information on the go. All I had to say was ‘OK Google, How many millionaires has this forest and gods produced and why hasn’t the country charmed itself to higher life expectancy, more paved roads, a lower global mortality rate amongst children, better healthcare services, disappearance of poverty?’ I didn’t exactly ask that, but Google Now provided as much information instantly.

From the forest, we would journey to slave monuments, odes to helpless lives traded and exchanged across the sea to work in cotton plantations, sugar plantations, rice fields, gold and silver mines. The most striking monument was the UNESCO site, ‘The Point of No Return’ built at the lip of the endless, blue ocean. Here, black bodies previously certified productive, strong, with backs given to endless violence were cargoes of labour, loaded unto ships bound for Europe, the Caribbean or the

Finding directions, best routes and arrival time with Google Maps Middle East.

From the monuments we would move to an Oceanside resort for lunch and subsequently a handicraft centre for making jewellery, art, fabric with local products and finally, the Benin Marina Hotel for dinner.

In between each tour site and food stops, we could plan arrivals and directions with Google Maps. The journey between tour sites took over six hours. When touring, it certainly helps to be prepared, to know what to expect, to know how to move around, to know best, shortest routes and when lost or unsure of where you are, to find out without having to

ask for directions from a stranger, if you’re the suspicious type. With Google Maps and Google App, I could calculate journey and arrival times and find out where exactly I was, down to street name. The apps use a satellite navigation technology that can zero in on your location, where your phone is sending signals from. Ouidah had no immediately visible street signs nor did the tour sites have maps.

I asked, ‘OK Google, Where am I?’ and it told me. I felt safe. Were I to have been dislocated from the group, I reckon I wouldn’t have been (too) panicked. I would have said ‘Show me directions to Sun Beach Hotel’. That was our

home base and the app would have led me, showing me the nearest bus stop. More to the point, the Maps app can also track your journey so one can simply retrace steps via the app to return home.

The next day would be a lesson in history.

We went to Ganvie Lake Village, a flourishing community in water, held up by stilts, referred to as, Google Search showed, ‘The Venice of Africa’. It was established 400 years ago, by the Tofinu people who settled there to escape slavers who came from the Fon tribe.

After this we would travel to Porto Novo, Benin’s capital city which was an estimated 1 hour, 3 minutes, (43km) according to Google Search and Maps, but took three hours. The app needs to take more on the ground information, into consideration – unpaved roads, toll gate traffic - to arrive at better time estimate. A satellite is not a local citizen.

At Porto Novo was the King’s Palace, which has seen 24 kings since the 1800s and is no longer a kingdom because the Benin Republic as a country adopted socialism, which decreed equality for all in 1976. This would prove to be a small debate between me and Taiwo. Taiwo believed that the people embraced their king being delisted to a regular citizen because they were in a democracy. I reckoned at the time that Benin was under a dictatorship and didn’t know what democracy was so maybe socialism was foisted on them. A quick Google Chrome search (the most efficient browser in the world) via talking to the app - which recognised my voice, instead of typing ‘google.com’ - would settle the score. In a debate, you want to find out which side has the superior point.

‘OK Google,’ I said. ‘Who was the president of Benin in 1976?’

“Matthew Kerekou was President of Benin from 1972 to 1991. After seizing power in a military coup…”

There can be victory in being right. Thanks, Google.

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IMAGES

T H I S D AY • MONDAY, FEBRUARY 25, 2016

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

L-R: Managing Director, Arik Air, Mr. Chris Ndulue; Chairman, Sir Joseph Arumemi Ikhide; and Deputy Managing Director/ Senior Vice President, Operations, Capt. Ado Sanusi, at a press briefing on the disruption of Arik Air’s flight operations by Federal Airport Authority of Nigeria (FAAN) staff unoin last Wednesday at the Murtala Mohammed Airport, Ikeja, Lagos recently.

KOLAWOLE ALLI

L-R: Corporate Services Executive, MTN Nigeria, Ms. Amina Oyagbola; Director, Corporate Planning and Strategy, Nigerian Communications Commission (NCC), Mr. Nnamdi Nwokike; and Director, MTN Nigeria, Mr. Gbenga Oyebode, at the 2016 Innovation Africa Digital Summit, in Abuja.......recently.

L-R: Country Director, Development Africa, Joshua Kempeneer; Apex Chief Nursing Officer, Eti-Osa East Local Council Development Area, Mrs. Yussuff Olubunmi; Public Affairs Director, National Petroleum Investment Management Services( NAPIMS), Mrs.Helen Nkwo; and General Manager, Corporate Social Responsibility, Total Exploration and Production company, Dr. Charles Ngiribara, during the rollback malaria outreach programme to mark 2016 edition of World Malaria Day in Lagos recently

L-R: Communications Manager, Wealth, Stanbic IBTC, Dapo Martins;Chief Executive, Stanbic IBTC Nominees, Akeem Oyewale; Head, Marketing/Communications, Stanbic IBTC, Nkiru Olumide-Ojo; Members of Slum2 School Africa; Anthonia Ejoh, Oluchukwu Banve, and Nkoyo Bassey with pupils of Adekunle Primary School, Makoko, Yaba, at the celebration of mosquito nets donated by Stanbic IBTC in Lagos recently ETOP UKUTT

L-R: Head, Operations, ARM Life Plc, Mr. Osahon Ogiemudia; Executive Director, Mr. Balamurli Krishnan; a winner at the ARM Life ‘Dance for Life’, Mr. Olisa Israel; Managging Director, ARM Life, Mr. Stephen Alangbo; and another winner, Ms. Ivie Zock Olofua, during the prize presentation in Lagos... recently

L-R: Divisional Head, Small / Medium Enterprises (South), Bank of Industry, Abdulganiyu Mohammed; Acting Managing Director BOI, Waheed Olagunju; Beneficiary of BOI Graduate Entrepreneurship Fund, Emmanuel Faleti; and Divisional Head, Large Enterprises, Joseph Babatunde, During the presentation of works produced by a beneficiary in Lagos recently

Chief Believing Officer, Orbus Global Solutions, Aisha Bello-Tukur(middle) during the distribution of mosquito treated nets to members of Makoko community to mark world malaria day in Lagos recently

L-R: Director, United Nations Information Centre, Roland Kayanja; Deputy Director, Research / Head, Medical Research Programme, Nigerian Institute of Malaria Research Lagos, Dr. Sam Awolola; Marketing Director, RB West Africa, Oguzhan Silivrili; Officer, Advocacy Sensitization Mobilisation for Malaria, Lagos State Ministry of Health, Akintunde Ibironke; and Marketing Manager, Mortein, Bamigbaiye-Elatuyi Omotola, during RB/Mortein Anti-Malaria summit in Lagos recently

T H I S D AY MONDAY APRIL 25, 2016

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T H I S D AY • MONDAY, APRIL 25, 2016

BUSINESSWORLD NIBOR OVERNIGHT 1-MONTH

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Quick Takes 18 French Companies for Agrofood Exhibition

PLANNING YOUR RETIREMENT

L-R: Executive Director, Investments, Stanbic IBTC Pension Managers Limited, Mr. Oladele Sotubo; Head, Business Development, Stanbic IBTC Pension Managers Limited, Mrs. Nike Bajomo; Consultant Endocrinologist, Federal Medical Centre, Abeokuta, Dr. Olubiyi Adesina; Chief Executive, Stanbic IBTC Asset Management Ltd, Mrs. Bunmi Dayo-Olagunju; and Executive Director, Operations, Stanbic IBTC Pension Managers Limited, Mr. Steve Elusope; at a pre-retirement forum organised by Stanbic IBTC Pension Managers Limited in Lagos …recently

Nigeria Ranks 67 in Open Data Barometer Obinna Chima Nigeria is currently ranked 67 out of 92 countries in the Open Data Barometer published by the Web Foundation. The Web Foundation is published by the World Wide Web inventor, Sir Tim Berners-Lee’s.

The report obtained at the weekend showed that Nigeria has open government data available on both health and education. This, the promoters of the initiative described as a good step forward for transparency and innovation in the country. They therefore stressed the need for more data to be opened to the public to allow citizens to access and analyse information for free, and find ways to improve policies that

ECONOMY affect them.

According to the Web Foundation, open data will play a critical role in anti-corruption, adding that Nigeria must open data on procurement contracts, public spending, budget and company registers.

The report, which further stated that over half of countries studied now have open data initiatives, however noted that less than 10 per cent of the government data vital for sustainable development is open.

“Today the Web Foundation, set up by World Wide Web inventor Sir Tim Berners-Lee, announced the results of the third Open Data Barometer, a global snapshot of the state of

open government data in 92 countries. Open data is data that is openly published online and is free for all to access and reuse. For the first time, over half of the countries in our study have open data initiatives in place,” it added.

However, faster progress on translating commitments into action is needed to close data gaps in the developing world, the study warned.

“Fewer than 10 per cent of the data set surveyed were open, and most of these are in the rich world: nearly half of the open datasets in our study are found in just 10 Organisation for Economic Co-operation and Development (OECD) countries, while almost none are in African countries. “Although many

developing countries have pledged to open up more data - with 10 additional developing countries making open data commitments last year alone - a lack of resources and weak data infrastructure are limiting implementation,” it added.

This data divide, it noted was depriving developing countries of the information tools needed to achieve the Sustainable Development Goals on education, health, environment, and rule of law, the study warned In the area of combating corruption, the report pointed out that: “Only two per cent of countries in the study publish Continued on page 26

Telecoms Industry Stakeholders Demand Review of FG’s Fiscal, Monetary Policies Emma Okonji Telecommunications industry stakeholders have called on the federal government to revisit its fiscal and monetary policies, in order to create enabling environment that will boost infrastructural development and drive broadband penetration in Nigeria.

The stakeholders who met in Lagos last week at the focused industry stakeholders forum organised by the Nigerian Communications Commission (NCC), faulted the deplorable condition of telecoms facilities across the country, blaming it on the harsh conditions of the

TELECOMS country’s fiscal and monetary policies, which they said, were inimical to telecoms development.

The Executive Vice Chairman NCC, Prof. Umar Danabatta, while responding to the stakeholders’ complaints on the difficulties that telecoms operators encounter in rolling out telecommunications services in underserved and unserved areas of the country, said poor telecoms infrastructure has been a major challenge to rapid broadband development in the country.

According to him, the re-

quired infrastructure needed to drive fast broadband penetration is not available in the country and where such infrastructure exist, they are not adequate to enhance faster broadband penetration.

Danbatta expressed concern about the recent ranking of Nigeria as the 134th country out of 144 country ranked on Global Competitive Index (GCI) by the World Economic Forum, said Nigeria dropped in the ranking as a result of her poor state of telecoms infrastructure that was supposed to drive development in the country.

He therefore called in the federal government to review

its fiscal and monetary policies and allow tax waiver on the importation of some critical telecoms infrastructure that will drive broadband penetration in the country.

The forum was organised by the Universal Service Provision Funds (USPF) of NCC, to seek stakeholders’ contribution and collaboration on the best way to fund telecoms projects in the country that will lead to faster broadband penetration across the county.

The stakeholders also called on USPF to undertake telecoms projects like building of Base Continued on page 26

The second Agrofood Exhibition in Nigeria is expected to gather more than 85 exhibitors from 22 countries at the Landmark Centre in Lagos from 26th to 28th April.

Present since the first edition of Nigeria Agrofood exhibition, Adepta is coming back this year with 21 companies, which represents the largest European participation.

A statement from the organisers explained that France will be well represented through 21 companies, of which 18 are exhibiting on the expo under the French Pavilion.

“As a French agrofood association, Adepta brings together French agro industries, French manufacturers and suppliers of equipment, technologies and inputs for agriculture, livestock and agrifood production. Through its 244 members companies and organisations, this professional association is a unique showcase of the French commercial offer and expertise in these sectors.

“The target of agrofood and plastprintpack Nigeria 2016 is to support the Nigerian agrofood industry and we believe that French know-how can meet Nigerian requirements. Adepta’s members have the ability to provide made-to-measure solutions to Nigerian market,” it added.

According to the statement, French Pavilion will be organised around four sectors: large-scale farming, bakery, livestock and process and packaging.

Throughout the exhibition, an entire running industrial bakery line will be equipped with French equipment, producing breads all day under the French Pavilion.

Etisalat Appoints New VP, Directors

Etisalat Nigeria has announced the appointment of a new Vice President and two new Directors within its senior management team.

Olawole Obasunloye has been promoted to the position of Vice President-Finance/ Financial Controller, whilst Ikenna Ikeme and Olalekan Bankole were recently promoted to the positions of Director-Regulatory and Corporate Social Responsibility and Director-Finance Operations and Support respectively.

As VP-Finance/ Financial Controller, ‘Wole assumes responsibility for overseeing the evolution and integration of the company’s accounting and financial reporting functions. Ikenna with over 20 years of legal, regulatory and marketing experience in the banking and telecoms sectors will be responsible for ensuring that Etisalat’s regulatory and CSR interventions continue to translate into positive socio-economicoutcomesindifferentcommunitiesacrossthecountry.

As Director-Finance Operations and Support, ‘Lekan assumes leadershipforallactivitiesrelatedtothecompany’sfinancialsystems.

Chief Executive Officer, Etisalat Nigeria, Matthew Willsher, said: “Etisalat remains fully committed to executing its business strategies with the help of a high-performing team of dedicated, hardworking employees. The collective knowledge, expertise and experience that ‘Wole, Ikenna and ‘Lekan bring to the Organisation further strengthens our business and reinforces our position at the forefront of delivering excellent products and services to our over 23 million customers. These promotions continue to consolidate the leadership of our organisation and are evidence of the great career opportunities that employment with Etisalat offers”.

EMCOAN Holds Business Seminar

The Electronic Media Content Owners Association of Nigeria (EMCOAN), the umbrella body of Chief Executives Officers (CEOs) of content owners in Nigeria, is set for the 2016 edition of its CEOs Business Seminar for its members. The event, which will give participants opportunity to learn from season media strategist, will take place in Lagos on Thursday May 5th.

In a statement signed by the EMCOAN President, Mrs. Debbie Odutayo, it was stated that the essence of the seminar is to ensure that as part of the agenda for year 2016, EMCOAN will be interested in programmes that can empower its members and place them strategically in the comity of content owners globally.

“AsEMCOANispreparedtosupportandaddvaluetotheongoingdigitisation migrationprocessandtheMOPICONBill,thebodyisalsoconcernedabout thecapacitybuildingofitsmembers”thestatementstated.

“A strategic leadership issue facing Nigerian executives is poor vision, sometimes when leaders have visions those visions are unrealistic” The founder and CEO of the London-based These Executive Minds Ltd, TEXEM, Dr. Alim Abubakre

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BUSINESSWORLD NIGERIA RANKS 67 IN OPEN DATA BAROMETER

detailed public spending data and only one per cent publish open company data - the two worst performing datasets in our study.

“Contracting data performs slightly better, with eight per cent of data open. Publishing this data in reusable, machinereadable formats is essential not only to pierce the veil of secrecy but to help corruption fighters unravel the complex webs through which illicit money circulates.”

Also, in the terms of improving health and education, the report noted that: “Only 13 per cent and 11 per cent of countries respectively publish open data on the performance of health and education services, while only 15 per cent release open demographic data that can be combined with health and education data to identify ways to improve outcomes for women, girls and poor communities, for instance.

TELECOMS INDUSTRY STAKEHOLDERS DEMAND REVIEW OF FG’S FISCAL, MONETARY POLICIES

Transceiver Stations (BTS), popularly called base stations, instead of allowing the telecoms operators to build BTS by themselves, while expanding their networks.

They explained that the direct involvement of USPF in building of BTS would facilitate faster broadband penetration in the country.

The Secretary of USPF, Mr. Ayuba Shuaibu, however explained that the law does not allow USPF to undertake any venture capital project.

He further explained that the law only allows USPF to encourage telecoms operators to build BTS and other telecoms infrastructure for service rollout through subsidy.

According to Danbatta, “NCC acknowledges the enormity of the task the industry has at hand in the area of driving broadband penetration and providing telephony services to the approximately 36.8 million people identified as underserved and unserved.”

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

Firms Delight Investors with Growth Despite Continuing Bear Run Goddy Egene As the Nigerian equities market continues to bleed, only eight companies have put smiles on the faces of their investors giving them positive returns year-to-date (YTD), THISDAY checks have revealed. The stock market has remained bearish since the beginning of the year, affected by the adverse economic climate characterised by declining oil prices, rising inflation and uncertainties around devaluation of the naira and the delay in signing of the 2016 budget.

Stocks have suffered significant depreciation while all the Nigerian Stock Exchange (NSE) All-Share (ASI) and other sectoral indices have lost over 10 per cent YTD. Specifically, NSE ASI declined by 13.2 per cent as at last Friday. The NSE 30 Index shed 15 per cent, NSE Banking Index (15.1 per cent), NSE Consumer Index (21.4 per cent) and NSE Industrial (13.3 per cent).

However, in the midst of the rampaging bears, Tiger Branded Consumer Goods Plc (TBCG), Seplat Petroleum Development Company Plc, E-Tranzact Plc, A.G Leventis Plc, International Breweries Plc, Academy Press Plc, NEM Insurance Plc and Learn Africa Plc have recorded YTD positive returns.

TBCG, which has been reacquired by Dangote Industries Plc (DIL), led the pack, delivering an unprecedented growth of 146 per cent. It was followed by Seplat with an appreciation of 67.5 per cent.

A.G Leventis Plc rose by 32.2 per cent. E-Tranzact Plc

rose by 31.5 per cent just as International Breweries Plc appreciated by 25 per cent.

Academy Press Plc is up 21.8 per cent while NEM Insurance Plc and LearnAfrica Plc have fetched investors a YTD growth of 14.6 per cent and 14.1 per cent in that order.

The gain recorded by TBCG came recently following the reacquisition of the company DIL. The company was sold to Tiger Brands, a leading South African fast moving consumer goods company in 2012. But after

years of losses, Tiger Brands announced its withdrawal of further funding in November 2015.

However, DIL repurchased TBCG last December and is now making fresh efforts to reposition the firm and make it perform and deliver returns to shareholders like other subsidiaries in the Dangote Group.

Already, Asue Ighodalo, a renowned corporate lawyer and Chairman of Sterling Bank Plc has been appointed as its new chairman, while Alhaji Ahmed

Many flights were delayed and few others cancelled at the weekend following the inability of most airlines to receive the volume of aviation fuel, known as Jet A1, they needed for scheduled flights operations.

THISDAY gathered that due to the paucity of the product, oil marketers resorted to rationing the product to airlines, sharing the product at the ramp, from one aircraft to another.

Airlines had positioned their aircraft, hoping the fuel would reach them as the bowsers moved between the airside of the General Aviation Terminal (GAT) to the domestic terminal, known as MMA2 of the Murtala Muhammed International Airport, Lagos.

An official of one major domestic carriers told THISDAY that the fuel scarcity affected all the airlines’ operations as it caused delays and flight cancellations. He said the situation was beyond the control of what airline management could do.

operating environment and would work extremely hard to turn around the fortunes of the company.

He said following the repurchase of the entire shareholdings of Tiger Brands, additional capital has been injected into the company.

“Our processes and management have been strengthened in order to stabilise the business and place it on a sustainable path aimed at creating value for its stakeholders,” Ighodalo said.

OUR CUSTOMER, OUR FIRST PRIORITY

L-R: General Manager, Consumer Marketing, MTN Nigeria, Richard Iweanoge, MTN Executive, Amina Oyagbola; Principal Manager, Consumer Affairs Bureau, NCC, Mrs. Rita Wachuku; Visafone Dealer, Hadjia Hadiza Abdulkadir and General Manager, Northern Region, MTN Nigeria, Adekunle Adebiyi at a forum organised for Visafone customers in Abuja …recently

Scarcity of Aviation Fuel Hampers Flight Operations Chinedu Eze

Shehu Yakasai as executive director, Supply Chain and deputy chief executive officer, just as Ms. Halima Dangote was appointed executive director, Commercial.

Besides, the shareholders of the company have approved that its name be changed from TBCG Plc to Dangote Flour Mills Plc. Ighodalo recently assured shareholders that the board and management of the company would continue to mitigate the effect of the challenging

“So we just ensure that we carry out the important flights to different destinations as we get fuel,” he said.

It was the same scenario at the international wing of the airport. Although most foreign airlines are on contract with oil marketers but more than two weeks ago, the international airlines adopted the strategy to fuel outside Nigeria and top up when they arrive in the country.

On Friday THISDAY learnt that Arik, which at the peak of operation required about 1.2 million litres of fuel for its flights could only source about 700, 000 litres, sometimes less and this impacted on its flights for an airline that operates about 115 flights a day.

Also Dana Air delayed flights on Friday because of inadequate supply of aviation fuel, though it did not cancel any of its flights, according to a source from the airline.

There are fears however that airlines may cut back the amount of fuel needed

for each aircraft to operate fully, which includes the fuel to a destination and return and extra fuel, which is referred to as endurance fuel, which is needed in case of emergency or delays due to weather, VIP movement and others.

But spokesman of the Nigerian Civil Aviation Authority (NCAA), Sam Adurogboye said that attempt to cut back the volume of fuel would be akin to committing suicide.

“Let me tell you categorically that the issue of fuel is a no go area because that will be akin to committing suicide. No airline or pilot will allow it to happen; rather, what airlines do when there is no enough fuel is to cut down operations; they reduce their schedule.

“This cannot happen because the aircraft will come down, so unless the pilots agree to commit suicide; that is when they will allow such to happen.

The present fuel scarcity is not peculiar to aviation; it is a general problem,” Adurogboye said.

‘Nigeria Will Take Advantage of Digital Revolution to Boost Devt’ Emma Okonji The Minister of Communications, Adebayo Shittu has said the present administration is set to leverage the benefit of the digital revolution and the huge potential of Information and Communications Technology (ICT) to drive development in the digital smart Nigeria project.

Adebayo made the disclosure recently, while addressing delegates at the opening ceremony of the just concluded 14th Innovation Africa Digital Summit 2016 held in Abuja.

The three day summit with the theme: ‘Harnessing Africa’s Digital Growth’, was Africa’s leading ICT Business Summit with over 500 senior executives across government, regulatory bodies, telecoms operators and major end users of ICT products, in attendance from Africa, Asia, the Middle East and Europe.

Explaining the rationale behind the administration’s decision to unlock positive growth using digital platforms, Adebayo said the federal government has developed a roadmap soon to be unveiled that will help it achieve exceptional growth through the ICT, in the smart

Nigeria project.

According to the minister “ICT has changed the course of history and added value to all that we do, and it is important that Nigeria take advantage of ICT to boost national development”.

Speaking on the importance of the summit, MTN Executive, Amina Oyagbola, represented by the General Manager, Northern Region, MTN Nigeria, Mr. Adekunle Adebiyi, said it was another opportunity for Africa to understand the potentials of ICT and to take advantage of such potentials in growing the economy of the region.

According to Oyagbola, “there continues to be an increasing optimism in international circles about Africa’s potential for growth and development. From education to financial inclusion, agriculture to solid minerals, egovernment to mobile health, ICT is a fulcrum for ensuring maximum impact across key elements involving people, processes and productivity. ICT can retool and up-skill people in every sector, upgrade processes for greater operational efficiency and enhance productivity for stronger growth while attracting further investment.”

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BUSINESSWORLD

MARKET REPORT

Stock Market Rebounds on Positive Q1 Results Goddy Egene and Eromosele Abiodun Investors in the Nigerian equities market heaved a sigh of relief last week as the market recorded a marginal gain to close the week in the green. The market had declined by 2.40 the previous week. However, the market witnessed a rebound last week with the Nigerian Stock Exchange (NSE) All-Share Index rising by 0.53 per cent to close at 24,850.11.

The positive performance, despite the overall bleak short term outlook, was driven by bargain hunting and first quarter corporate results.

True to investors’ and traders’ expectation, some results released last week showed massive improvement despite recent economic crunch fuelling speculations that the days ahead may be rosy for investors.

At the close of the market, NSE All-Share Index and market capitalisation appreciated by 0.53 per cent to close the week at 24,850.11 and N8.548 trillion in that order.

However, it was mixed performance in terms of sectoral performance.

The NSE Consumer Goods Index, NSE Oil/Gas Index and The NSE Lotus Index declined by 0.83 per cent, 0.73 per cent and 0.77 per cent respectively. On the other hand, the NSE Banking Index rose by 3.82 per cent and the NSE Insurance Index appreciated by 2.6 per cent.

Daily Performance Summary Monday’s trading session had commenced on a shaky note as activities were hindered by a technical glitch, which affected the market between 10.29 a.m and 2.20 p.m. The market reopened at 2.20 p.m and closed at 4p.m. Consequently, the NSE ASI closed 0.28 per cent lower for the day at 24,650.92 points corresponding to a market capitalisation of N8.48 trillion. All major sectors closed in the red with the Oil and Gas sector the biggest loser, shedding 0.84 per cent due to sell offs in Conoil Plc (9.37 per cent) and Oando Plc (8.33 per cent).

Consumer goods declined 0.64 per cent due to Nigerian Breweries Plc (1.42 per cent) and Guinness Nigeria Plc (0.41 per cent) while Banking fell 0.60 per cent as Fidelity Bank Plc (4.84 per cent), Access Bank Plc (1.90 per cent), Zenith Bank Plc (1.31 per cent), FBN Holdings Plc (0.90 per cent) and Guaranty Trust Bank Plc (0.13 per cent) closed negative.

Market activity fell significantly on the day, which may not be unconnected to the shorter than normal trading session.

The market rose 0.13 per cent on Tuesday to close at 24,659.17 points driven by the banking sector which gained 2.04 per cent. The sectors performance was driven by Guaranty Trust Bank Plc (2.28 per cent), UBA Plc (3.12 per cent), Zenith Bank Plc (1.95 per cent) and FBN Holdings Plc (1.21 per cent). All other sectors closed in the red with Consumer goods shedding 0.91 per cent as Nigerian Breweries Plc (1.91 per cent) and PZ Cussons Plc (4.10 per cent) amongst others declined. The Oil and Gas and Industrial sectors fell 0.14 per cent and 0.04 per cent respectively.

Market activity improved on the day as total volume was up 76.5 per cent to 229 million units of shares while total value jumped 147 per cent to N1.44 billion. Guaranty Trust Bank Plc accounted for 32 per cent of the day’s total value.

The sustained positive appetite for equity investment pushed the

NSE ASI higher on Wednesday. The NSE ASI appreciated further by 0.51 per cent to close at 24,784.95 points, compared with the gain of 0.13 per cent recorded the prior day. The appreciation recorded in the share prices of Guaranty Trust Bank Plc, Zenith Bank Plc, Dangote Sugar Plc, Oando Plc and Access Bank Plc were mainly responsible for the gain recorded in the Index. Similarly, the market capitalization appreciated by 0.51 per cent to close at N8.53 trillion, compared with the appreciation of 0.13 per cent recorded yesterday to close at N8.48 trillion. The total value of stocks traded on the floors of the NSE on Wednesday was N1.11 billion, down by 22.76 per cent from N1.44 billion recorded the previous day.

The bulls maintained their hold on Thursday, leading to a further appreciation in the equity market. The ASI appreciated by 0.50 per cent to close at 24,909.88 on gains posted by Zenith Bank Plc, Nigerian Breweries Plc, UBA Plc, Access Bank Plc and Oando Plc. Similarly, the market capitalisation appreciated by 0.50 per cent to close at N8.57 trillion.

The total value of stocks traded on the floors of the NSE on the day was N1.18 billion, up by 6.13 per cent from N1.11 billion recorded the previous day.

However, profit taking by some investors depressed the equity market on Friday as the NSE ASI depreciated by 0.24 per cent. The depreciation recorded in the share prices of UBA Plc, FBN Holdings Plc, Nestle Nigeria Plc, Access Bank Plc and Oando Plc

were mainly responsible for the loss recorded in the index.

Market Turnover During the week under review, a turnover of 885.367 million shares

TOP TEN BROKERS(BY VALUE)

worth N5.829 billion in 13,870 deals were traded by investors on the floor of the exchange in contrast to a total of 8.054 billion shares valued at N13.328 billion that exchanged hands the previous week in 15,212 deals.

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

The Financial Services Industry remain the most active leading the activity chart with 747.817 million shares valued at N3.832 billion traded in 8,768 deals; thus contributing 84.46 per cent and 65.73 per cent to the total equity turnover volume and value respectively.

The Consumer Goods Industry followed with 45.517 million shares worth N977.579 million in 2,145 deals.

The third place was occupied by the Agriculture Industry with a turnover of 32.313 million shares worth N48.460 million in 247 deals.

Transactions in Zenith International Bank Plc, Guaranty Trust Bank Plc and United Bank For Africa Plc accounted for 290.319 million shares worth N3.015 billion in 3,795 deals, contributing 32.79 per cent and 51.72 per cent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 4,511 units of Exchange Traded Products (ETPs) valued at N1.401 million executed in 38 deals, compared with a total of 690 units valued at N572,158.80 transacted the prior week in 28 deals.

A total of 3,241 units of Federal Government and Corporate Bonds valued at N3.579 million were traded in 4 deals compared to a total of 28,280 units of Federal and State Government Bonds valued at N29.572 million transacted the previous week in 8 deals.

Gainers and Losers Meanwhile, a look at the price movement chart showed that a total of 35 equities appreciated in price during the week, higher than 26 equities of the previous week.

Conversely, 32 equities depreciated in price, lower than 41 equities of the previous week, while 122 equities remained unchanged same as the previous week. The top 10 gainers were: Berger Paints (78 kobo); Dangote Sugar (52 kobo); Tiger Branded Consumer Plc (48 kobo); UACN Properties Plc (45 kobo); Eterna Plc (33 kobo); Axamansard Insurance (21 kobo); Trans Nationwide Express Plc (14 kobo); FCMB Group Plc, Diamond Bank Plc (11 each kobo) Learn Africa Plc (nine kobo);.

On the contrary, the top 10 losers were: Okomu Oil Plc (N3.00), Conoil Plc (N1.70), Union Homes Plc (41 kobo); Champion Breweries Plc (29 kobo), Portland Paints Plc (26 kobo) Law Union & Rock Plc; Fidelity Bank Plc, Airline Service and Logistics Plc (19 apiece kobo); Cutix (12 kobo) John Holt Plc (eight kobo).

28

T H I S D AY • MONDAY, April 25, 2016

BUSINESSWORLD

Musa Appointed General Manager of EMS Nigeria Mallam Umar Kaboji Musa has been appointed as the General Manager of EMS Nigeria, the courier arm of the Nigeria Postal Service (NIPOST).

His appointment followed the retirement of the erstwhile General Manager, Mallam Mundi Gani Mohammed from the federal public service upon the attainment of the statutory 60 years of age.

At a short but impressive handing over ceremony at the EMS Headquarters in Lagos recently, Mohammed was full of praise to NIPOST management, his predecessors in office and the entire staff and management for the robust support and cooperation received during his short but eventful tenure as EMS Nigeria helms man.

He said that the achievement he recorded in the areas of quality of service, staff welfare and relationship with stakeholders, were not only visible but commendable. He appealed to members of staff of EMS Nigeria to extend the same support, cooperation and loyalty to the newly appointed General Manager.

Mohammed admitted that there were challenges during his tenure, but he assured the Musa that with the caliber of management and staff of EMS Nigeria, there is no doubt such challenges would be easily surmounted to move the venture far beyond where it is at the moment.

Responding, Musa commended the outgoing General Manager for the achievement recorded in the venture during his tenure, and wished him suc-

cess in his future endeavor as he bowed out of public service.

He assured the management and staff of EMS Nigeria that he was not a stranger to EMS having served in the venture between 1992 and 1993, with a specialised training on EMS in Rotterdam, Holland.

With my experience, training and of course, the support and cooperation of all, I promise to harness the huge potential of EMS Nigeria to the benefit of all stakeholders.

Manager, Corporate Communications, EMS Nigeria, Mr. Hezekiah Umanah, said Musa immediately hit the ground running on his first day of resumption of duty.

According to him, he toured major EMS offices in Lagos to assess the situation on ground.

“At the EMS offices in Ikeja, Lagos Island and Shomolu, he bemoaned the constraint of office space, poor power supply which affects the electronic keying in of acceptance and delivery information and assured the staff that he would see what is possible within available resources. He also promised that he would not shirk his responsibility to drive staffers nationwide to put in their best and accept responsibility for their action or inaction”, Umanah said.

The management staff assisted Mohammed to cut a surprise birthday cake they provided to mark his 60th birthday. Prayers were said for his good health and long life, as well as for the success of NIPOST, EMS Nigeria and the success of the new General Manager on his new assignment.

MediaReach OMD Wins Young Lions Media Competition MediaReach OMD Nigeria has won the Young Lions Media Nigeria competition. According to the organisers of the competition, the feat will qualify the agency to represent Nigeria at Cannes in June 2016 for the Young Lions Media – Global Competition.

The competition was open to media professionals under 30 years of age drawn from various Media Agencies in Nigeria. This year, the teams that participated in this year’s edition were given a brief and had about 24 hours to think, create and submit a media solution that answers the Media Brief. But based on the unique presentations of the mediareach to the jury, comprising of Media Communications and Creative professionals, its campaign was chosen.

The International Young Lions competition, which will be held at Cannes in June 2016, gives the next generation of industry superstars the chance to prove themselves by creating campaigns during the Festival week, where more than 400

contestants from around the globe compete in seven categories. The categories include; Media, Cyber, Design and Print.

Others are; Film, Marketers and Public Relations. The Cannes Lions International Festival of Creativity is the World’s biggest celebration of creativity in marketing communications. It is also the greatest opportunity of the year for industry professionals to network and learn about brand communications.

Commenting on the achievement, the CEO of the media agency, Tolu Ogunkoya said the company’s global winning culture helped it into the local markets.

He said: “We train our talent on an on-going basis, including regional webinars on weekly basis as a source of inspiration to be abreast of latest developments and raise the game. Additionally, we have many local initiatives through which we encourage our people to produce works that deliver on objectives and help overcome current business challenges of our Clients.”

AppOiNTMENT / AWArDS

Vodacom Business Nigeria Wins Outstanding Industry Awards Vodacom Business Nigeria walked away with two industry awards at the Beacon of ICT (BoICT) Awards ceremony, a meritcentric celebration aimed at rewarding best practices and recognition of outstanding contributions to the growth of ICT in Nigeria. The BoICT Awards was instituted by Nigeria CommunicationsWeek, Nigeria’s leading technology publication.

At the BoICT awards ceremony, which was held in Lagos at the weekend, Vodacom Business Nigeria representatives walked away with two outstanding awards, which were the Enterprise Solution Provider of the Year, an award the company won

in 2013, 2014 and 2016 and Cloud Service Provider of the Year, another award the company has won for three years, back-to-back since 2014.

This year over, 1.3 million readers of Nigeria CommunicationsWeek voted in the different categories with Vodacom Business Nigeria emerging as the clear winner in Enterprise Solutions Provider of the Year and Cloud Services Provider of the Year categories.

Brimming with pride on the back of this accolade, the company’s Managing Director, Lanre Kolade said: “We are extremely proud and honored to receive these excellent awards that

recognise our leadership in total communication solutions and cloud services. We were up against some of the most accomplished global players in the industry, winning the awards is a very proud moment for the Vodacom Business Nigeria team. We will continue to deliver services that raise the bar in the market.”

Vodacom Business Nigeria has bagged over twelve local and international Industry awards in recent years, which include ICT Infrastructure Provider of the Year at the BoICT Awards, Best African Wholesale Offering at the Capacity Awards, GSM Backhaul Operator of the Year at the Innovation Awards, Enterprise

Solution of the Year Award for its Software-as-a-Service (SaaS) solution at the CAIA Awards, First Class Customer Service and Wireless Network Infrastructure Innovation Award, both at the SatCom Stars Awards.

Vodacom Business Nigeria provides high-speed Internet services, wireless broadband and international VPNs, Pan-African data networks, enterprise voice, machine-tomachine solutions, hosting services, system integration and maintenance. With its dedicated team of experts who provide on-the-ground support, businesses are restassured of first-rate services wherever they are located in Nigeria.

29

T H I S D AY • MONDAY, April 25, 2016

BUSINESSWORLD

iNSiDE BrOAD STrEET STATUS REPORT

Heritage Bank Introduces Customer Reward Scheme

A view of Lagos financial district

AKINWUNMI IBRAHIM

Bond Yields Rise on Tight Market Liquidity Obinna Chima Bond yields climbed by 0.6 per cent last week as the market continued to price in tighter liquidity and higher interest rate expectation into valuation.

This is expected to continue to impact positioning decisions of investors in the fixed income securities market this week.

However, last week, sentiment in the bonds market was mixed but broadly bearish.

Average yield across benchmark bonds rose 0.1 per cent from the preceding Friday’s close of 12 per cent to 12.1 per cent at the end of last Monday’s trading session. Also, last Tuesday, average yields on benchmark bonds rose 0.9 per cent with increased activity noticed on the FGN MAR 2036 instrument as it was added as a 20Y Tenor benchmark.

But yields moderated 0.4 per cent to 12.6 per cent as investors positioned in bargain opportunities, eventually settling at the same level on Friday.

The federal government at the weekend allayed the fears of likely default by states that had issued bonds, saying that it would ensure that the debt obligations are redeemed.

Precisely, the federal government disclosed that it would be bearing the repayment burden of states that had issued the debt instrument, especially states it (the federal government) is indebted to.

The Finance Minister, Mrs. Kemi Adeosun, gave the assurance to bond holders, in response to enquiries by THISDAY. This followed concerns raised by a lot of bond holders after Thursday’s announcement by the federal government that it would not make deductions from states’ Federation Account allocations for the month of March on their restructured loans so as to allow them pay their workers’ salaries.

Adeosun, who made the announcement at the end of a meeting of the National Economic Council (NEC) had said the decision to stop the deductions was informed by the fact that states do not have enough resources to meet their obligations.

But the move was not well received by

MARKET INDICATOR some investors in fixed income instruments such as commercial banks, pension fund administrators and some multilateral institutions, who felt that the Irrevocable Standing Payment Orders (ISPOs), which was the primary comfort for them to purchase the securities was being tampered with.

Some even expressed disappointment that the federal government did not carry them along before such decision was arrived at.

However, Adeosun stressed that all the bonds would be redeemed as at when due.

According to her, “the bond holders are getting paid. The Federal Government of Nigeria is bearing the burden as in many cases as it is owing states.”

States, which included Lagos, Kaduna, Cross River, Edo, Ogun, Bauchi, Katsina, Osun, Oyo, Enugu, Taraba, Borno, Delta, Plateau, Yobe, Benue, Abia, Zamfara, Imo and Kogi, had issued bonds in the past years to support infrastructure developments in their states.

States that desire to raise funds from the bond market are required to execute an ISPO, which must be approved by the Honourable Minister of Finance mandating the Office of the Accountant General of the Federation (OAGF) to, on a monthly basis, deduct and remit pension contributions and funds for the redemption of the debt obligation of the state.

Interbank Market According to a report by Afrinvest West Africa Limited, financial system liquidity remained at low levels throughout last week.

At the start of the week, system liquidity level hovered around the preceding Friday’s closing levels, consequently, the open buy back (OBB) and overnight rates remained at four per cent and 4.6 per cent respectively.

On the other hand, activities in the treasury bills market were mixed last week.

“We associate the increase in stop rates to higher interest rate expectation by investors.

As a result, the market reacted as average treasury bills rate rose 0.6 per cent to 8.7 per cent by the end of Thursday’s trading session, eventually closing at 8.6 per cent on Friday.

“In the week ahead, we expect money market rates to trend upward in the earlier trading sessions of the week as banks’ provision for forex but will decline towards the week’s end as get refunds for unfulfilled bids at the forex intervention auction as well as expected inflow of N96.4 billion worth maturing open market operation (OMO) bills on Thursday,” the Afrinvest report added.

Forex Market Presently, the CBN is still unable to adequately meet dollar demands as it continues to refund banks for huge volume of unfulfilled bids at the weekly forex auctions.

As a result of this, the impact of the forex unavailability is being felt across sectors especially the petroleum sector as difficulties with importation of refined crude continues to adversely affect economic output. Liquidity in the financial system has also been fluctuating widely with a feedback on market rates.

However, speculative pressures remained relatively passive in the forex market, hence the stability in exchange rates at all segments of the forex market, though the wide spread between the official rate and parallel market rate remains.

The official naira/dollar rate at the official segment of the market stayed unchanged at N197/$1 whilst the interbank rate remained at N199.50/$1. The Bureau-de-Change segment of the market closed at N320.00/$1

by Thursday.

“We expect that the relative calmness in the foreign exchange market will continue in the week ahead. Although, the comprehensive details of the Yuan/Naira currency deal remains unavailable, we believe completion of the transaction has the potential of reducing the dollar demand pressure especially for imports from China. This is likely to rein in speculative pressures in the forex market in the interim,” they added.

Heritage Bank Limited has instituted two customer reward programmes. Christened ‘MyHeritageReward’ and ‘HB Concourse,’ the two programmes, which were launched recently in Lagos, the bank explained were introduced to encourage and show gratitude to its teeming clientele.

In addition, the bank said the move was in line with its commitment to deliver superior customer service.

It described MyHeritageReward as a loyalty programme in which customers win “mouth-watering prizes as they use the various electronic channels of the banks, the HB Concourse is a meeting room fully furnished with relevant office equipment and designed to afford the small business owner or beginner, who are customers of the bank, space to hold brief business meetings and conclude deals with his own clients at absolutely no cost.”

The Managing Director/Chief Executive Officer of the bank, Mr. Ifie Sekibo, who spoke about the introduction of these programmes, said: “Heritage Bank was founded on the commitment to support customers in wealth creation, preservation and transfer across generations.”

According to him, “these programmes are some of the innovative ways through which we can show appreciation to our customers for being part of our success story.”

However, MyHeritageReward customers are required to sign up on the platform online, using their mobile phone numbers, which enable the creation of a customer profile with a pass-worded access. “From this point on, the customer earns points which enable him to graduate from class to class while winning commensurate prizes as he actively uses the bank’s POS, internet and mobile banking, ATMs and cards among other eBanking products.

“The uniqueness of the MyHeritageReward is in the ability to view milestone progress made by customer like, bank transaction channels, membership class, milestone boosters and cash backs as well as an inquiry service that gives the customer access to point balance, ranking, rebate purse in addition to entertaining games and contests like Goldfinger and Brain Quest among others,” it added.

Also, prizes which ranged from airtime across all networks, smart phones, business, shopping vouchers, generators, inverters to a brand new vehicle are to be won.

Apart from saving cost for the newcomer in business and SMEs, the HB Concourse, the bank explained, also provides convenience for clients travelling out-of-state for business to naturally conduct their meetings or appointments without worrying about office space among others.

To use these meeting rooms such customers of the bank will have to go through a simple booking process online, which are mere formalities to avoid clashes of meeting times with fellow customers who also want to use the same facilities.

Sekibo

30

T H I S D AY • MONDAY, APRIL 25, 2016

BUSINESSWORLD

INTERVIEW

Abubakre: Strategic Leadership Key to Nigeria Realising Its Goal as a Top 20 Global Economy The founder and CEO of the London-based These Executive Minds Ltd (TEXEM), a service-based social enterprise focusing on executive education, Dr. Alim Abubakre, spoke on the strategic leadership issues confronting Nigerian executives as well as the company’s forthcoming programme on Strategic Leadership for Superior Performance in Turbulent Times. Excerpts: What are some of the strategic Leadership issues facing Nigeria?

A strategic leadership issue facing Nigerian executives is poor vision, sometimes when leaders have visions those visions are unrealistic.

Another is indecision and limited capacity to make good decisions. Sometimes when decisions are made they are usually devoid of fundamentals but informed by sentiments.

Also, lack of self-awareness and poor communication skills is a strategic leadership deficit that many Nigerian executives face.

Another is poor succession planning and lack of continuity. If strategic leadership issues are addressed, the country has huge potential to add immense value and move beyond jobless growth to inclusive growth that creates real value and provide quality jobs for its citizenry.

Nigeria realising its great prospect as a top twenty global economy in the next few years.

By equipping these senior managers with the tools they require to shape strategy and improve organisational performance, everyone wins.

Furthermore, we always have satisfied customers as exemplified by 60-70per cent of our delegates being repeat participants.

Tell us about Texem TEXEM (These Executive Minds) is a service based social enterprise focusing on executive education. By partnering with major global enterprises and top universities, TEXEM has developed a series of educational programmes that address the challenges facing business and government today, in terms of African organisations.

More generally what are the objectives of the programme?

The aims of the course are to introduce participants to the importance of good leadership in strategic management and achieving superior performance from modern organisations when facing turbulent times. Alliance Manchester Business School and TEXEM has considerable expertise and depth in its faculty who deliver inspirational insights into managing change and achieving success. The objectives include to add value to the delegates, enhance the organisation’s performance and have impact. The objectives include introduction of participants to methodology for problem analysis that enables decision makers to feel more certain about their options. Another is to offer participants some insights into leadership in organisations facing turbulence and uncertainty where new solutions are needed to the problems being faced. Furthermore, upon completion of the programme delegates would be able to investigate ways in which thinking more strategically can assist in formulating better strategic plans for the future. Finally, delegates would be exposed to some key aspects of change management that enable leaders to better handle change while recognising the importance of continued accountability to key stakeholders.

Tell us about your forthcoming programme Our forthcoming programme is in partnership with Alliance Manchester Business School who are the largest business school in the UK and are also the most global having centres on five continents. This programme is on Strategic Leadership for Superior Performance in Turbulent Times, between 31st of May to 3rd of June.

This inspiring upcoming executive education programme, will help executives to develop the competencies that they require to effectively address the challenges of leading in a complex and fast changing landscape. These skill-sets include knowledge needed to manage risks for better results, ability to develop winning strategies in turbulent times and enhanced capacity to provide authentic leadership in critical times.

How does this programme help executives to achieve Strategic Leadership?

Strategic Leadership in Turbulent Times at Alliance Manchester Business School would help executives to address contemporary issues that organisations face by addressing themes on: embracing ambiguous situations, better decision-making in ambiguous and uncertain times and moving beyond survival: Leading at a time of dwindling oil revenues. Others are strategy alignment and implementation, building and sustaining relationships in crises and beyond and positioning the business for growth and accountability.

Who are ideal participants for this programme?

The participants would be senior executives from a range of diverse organisations They may include legislators, chairs of board, CEOs, government ministers, commissioners, permanent secretaries, directors, entrepreneurs, partners and senior partners in consulting firms, lawyers, general managers and editors.

Based on what did you choose those topics?

In other words why do you think those topics are important for your clients?

After speaking extensively with our clients and other influential stakeholders we believe that these programmes reflect what senior executives experience and the skill gaps that they need to push the boundaries and create sustainable success for their organisations in these challenging times.

Abubakre What kind of companies? size, sector would attend this programme.

They may include large multinationals , small and medium sized companies; local government, state and federal government parastatals - financial services, real estate, telecommunications, government and nongovernmental organisations. This is because the solutions to the strategic challenges that organisations face may not only be found from learning from their peers within the same sector or type of organisation. For example, the oil and gas industry may be able to learn about cost efficiency from the airline industry in the USA. What do you think should be the preoccupations about the present day senior executives?

Is it about domestic growth? International expansion? Is it about innovation? Is it about trading with Asia?

It should be about Strategic leadership.

This would entail innovating in the board room in challenging times- it should be about better board decision in turbulent times, better strategic oversight in difficult times, better risk oversight in uncertain times and effective compliance and more ethical considerations in difficult times.

What are the big changes that will happen in 5-7 years that executives should worry about? (Threats and/or opportunities) Challenges-The fragile external business

environment partly due to Nigeria’s over-reliance on oil and the consequence of the unpredictable price of oil since this may affect government revenue. Also, in Africa, government is the largest customer for most organisations and when Government has dwindling revenue this affects all stakeholders within the economy.

Another is high political and regulatory risk plus high cost of doing business.

The opportunity is the windfall that could come from developing other sectors of the economy such as agriculture and mining as well as its value chain plus investing in infrastructure e.g. roads, railway networks and refineries.

What are the current issues that senior executives have to deal with that are preventing them from focusing on preparing for those 5-7 years changes?

The fragile external business environment, partly due to over-reliance on oil and the consequence of the unpredictable price of oil; high political and regulatory risk, high cost of doing business.

How would you define success of this programme?

This programme would be successful as we believe that it reflects what is relevant to the external environment, offers an opportunity for participants to explore peer to peer learning and enhance their social capital.

Also, we believe that this course will enable executives to maximise their full potential for strategic leadership, which is the key to

What will make executives sign on this programme?

The relevance of this programme to contextual realities that senior executives’ face and the steeper learning curve that participants would have upon completion. Also, the programme would help challenge assumptions, offer actionable solutions and promises to offer multiple return of investments for executives and their organisations.

Also, because Alliance Manchester Business School is one of the world’s top business school with triple accreditation by AMBA, EQUIS and AACSB, delegates would also have the privilege of being an alumnus of Manchester such as Sola David Borha and Omobola Johnson. It was the top institution for research according to the Economist in 2014.

Alliance Manchester Business School is UK’s largest Business School and is still growing with the £15 million endowment gifted by Lord Alliance, hence its new name Alliance Manchester Business School.

31

T H I S D AY • MONDAY, APRIL 25, 2016

BUSINESSWORLD

BEDC Signs Pact with Govt to Reconnect Ondo South Twenty months after towns and communities in the Ondo South senatorial district were disconnected from the power grid, an agreement between the state government and the Benin Electricity Distribution Plc (BEDC) was on Tuesday signed to reconnect affected communities.

This was contained in a statement issued by BEDC on Wednesday.

The Secretary to the State Government (SSG), Dr. Aderotimi Adelola, signed on behalf of the Ondo State government, while the Chief state head, Ondo and Ekiti States of the BEDC, Mr. Ernest Edgar, signed on behalf of the BEDC at a ceremony held in the office of the SSG, Government House, Akure.

Speaking shortly before the signing, Adelola said the signing was the first step in ensuring that power is restored to hundreds of affected communities in the southern parts of the state, assuring that the state government would fulfill its part of the agreement with the BEDC. He described the day as a new dawn in the lives of the people of Ondo South, appealing to the management of the BEDC not to renege on the terms of the agreement by restoring power to the communities as soon as possible.

In his remarks, Edgar assured

the state government of the preparedness of BEDC to restore power to the area starting with Odigbo Local Government Area in April and the remaining local government areas in the months to come.

He expressed satisfaction that over the resolution of the problems that led to the disconnection such as a debt of about N1.9 billion, vandalism of power installations and non payment of bills, assuring that an enduring procedure has been worked out to ensure that bills are reconciled and paid.

He said parts of the past issues sorted out with the state government included the payment of 50 per cent post privatisation bills by the community, how to safeguard power installations and safety of BEDC workers operating in the areas.

The Chairman of Odigbo Local Government Area, Hon E.O. Oshati, who signed on behalf of the council, said he has talked to members of council and that that they were full of expectations and willing to cooperate with the BEDC. He said: “I want to assure you that our people are ready.

They will surprise the BEDC with the way the will pay their bills. They are ready to protect BECD properties in their domains and are tired of living in darkness.”

NEWS

NIDF Lowers Entry Value from N1m to N100,000 Goddy Egene More investors will now have the opportunity to invest in the Nigerian International Debt Fund (NIDF) as its manager, Afrinvest Asset Management Limited (AAML), has decided to reduce the minimum investment from N1 million to N100,000. NIDF is an NSE-listed mutual fund since 1997 that invests in fixed income securities of the Federal Government of Nigeria, as well as those of the 36 States.

While the fund has been delivering significant returns to investors over the years, some prospective ones have been denied the benefits because of the entry point that was at N1 million.

However, AAML has proposed a reduction in the par value of the notes. The reduction and other amendment in the Trust Deed of NIDF will be considered at an extraordinary general meeting (EGM) of noteholders of the fund on Thursday in Lagos.

According to Managing Director of AAML, Ola Belgore, the EGM will discuss and get consent on the proposed amendment to the NIDF Trust Deed. “ One of the major resolutions expected to be passed at the EGM is the amendment of the definition of ‘New Investment Notes’ in the Deed of Amendment and Restatement of Trust Deed of October 12, 2009 to mean that Notes of a

par value of N100.00 will be issued to existing Noteholders in substitution for their existing Notes,” Belgore said.

He explained that the proposed reduction in par value from the N1, 000.00 N100.00 implies a stock split.

“The rationale for the stock split is to reduce the minimum entry value, which is currently at about N1 million to about N100,000. This will, in turn, accommodate more prospective customers as well as reduce the concentration risk of the Fund,” he stated.

According to him, all NIDF Noteholders are entitled to attend the EGM, or may appoint any person as proxy to vote on their behalf.

“NIDF offers investors safety,

capital preservation, steady returns, diversification and value, and has a consistent dividend history making it quite attractive for both individual and institutional investors such as Pension Fund Administrators (PFAs), insurance companies, asset managers and gratuity funds.

Earlier in February 2016, a coupon of N49.00 per note was paid to noteholders on the NIDF register, representing the 36th coupon in the life of the fund since its inception in 1997.

In 2015, the NIDF was rated “A-” by Global Credit Rating Company (GCR), which is consider among the best for mutual funds in the market today.

US Oil Drillers Cut Rigs for 5th Week to Nov 2009 Lows U.S. energy firms cut oil rigs for a fifth week in a row to the lowest level since November 2009, oil services company Baker Hughes Inc. said Friday, as energy firms continue to slash spending despite a bigger than 60 percent spike in futures since hitting a near 13-year low in February.

Drillers cut eight oil rigs in the week to April 22, bringing the total rig count down to 343 Baker Hughes said in its closely followed report.

The number of U.S. oil rigs currently operating compares with the 703 rigs operating in the same week a year ago. In 2015, drillers cut on average 18 oil rigs per week for a total of 963 for the year, the biggest annual decline since at least 1988 amid the biggest rout in crude prices in a generation.

Before this week, drillers cut on average 12 oil rigs per week for a total of 185 so far this year.

Energy firms have sharply reduced oil and gas drilling since

the collapse in crude markets began in mid-2014. U.S. crude futures fell from over $107 a barrel in June 2014 to a near 13-year low around $26 in February.

Schlumberger NV said in earnings release on Friday it will remain cautious in adding capacity even after energy firms show signs of recovery since it believes the industry will continue cutting costs through the coming quarter.

The world’s No. 1 oilfield

services provider said its first quarter revenue decrease was one of the steepest quarterly declines for the company since this downturn started driven in part by a drop in activity, persistent pricing pressure, project delays, job cancellations and activity disruptions.

U.S. crude futures this week were heading for a third week of gains, trading around $43 a barrel, as market sentiment turned more upbeat despite the persistent oversupply.

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Fashola: Power Sector Regulatory Agencies to Hold Operators Accountable The Minister of Power, Works and Housing, Mr. Babatunde Fashola SAN, has reiterated the resolve of the ministry to hold power sector operators accountable to service commitments through its regulatory agencies , even as he enumerated the benefits of the Multi-Year Tariff Order to electricity consumers.

Fashola, who spoke at the Mabushi Headquarters of the ministry, while hosting the Director General of the Consumer Protection Council (CPC), Mrs. Dupe Atoki, also promised to raise standards in the housing sector, saying the ministry would ensure that when a house is built either by government or private investors “it stays built”.

The minister said although the role of his ministry is not to take sides, the new tariff regime has been made to protect the consumer as the ministry ensures that Discos and Gencos perform their responsibilities well and that they are held to their service levels adding that the ministry also stands between them and consumers to ensure that they do not profiteer against

consumers.

He told the Director General: “I think that this last tariff seeks to achieve much for consumers in my opinion and I will tell you why, people were complaining about fixed charge and people were saying why will they take my money; but this last tariff stopped fixed charge, that’s a consumer sensitive charge.”

“What the last tariff also did was to say how do we stand to address the metering gap between the consumers and the DisCos. It also tried to address the issue of estimated billing so that if you dispute your last bill because you don’t have a meter you cannot refuse to pay, pay what you believe you have consumed and you cannot be disconnected”, the Minister said.

According to Fashola, the onus is on the Discos to prove that a consumer has used the power they seek payment for and they cannot prove that the consumer used power without measuring it “and they cannot measure the power without metering it and this was a way to incentivize metering”.

He noted, however, that

consumers seem not to fully understand the benefits of the tariff hence the present controversy.

Elucidating more on the reason for the new tariff, the Minister, who maintained that it is more friendly for the consumers ultimately added that it also sought to balance the interest of the DisCos because, according to him, “You cannot sell below your production price and if the price of gas has gone up for instance you must factor that into your price”.

Still on the benefits of the new tariff, the Minister who noted that 5000MW was not enough for over 100 million people added, “We cannot improve on quality without having more power and one of the things that this tariff seeks to address is that private organizations can provide power and this is to ensure that if anyone who wants to pay for premium power can leave the public power space for people who want to stay there”.

“The law provides for it so you can leave the pay-as-you-go for the premium power. These

are some of the consumer beneficial deliveries that is involved and I think I can’t begrudge people this and there is a lot of emotions”, he said.

Also identifying the Credited Advance Payment for Metering Initiative (CAPMI) as one of the challenges that should be resolved soon , the Minister declared, “you cannot take peoples’ money without providing the service for which they have paid. I was uncomfortable with that”.

He said the Ministry has ordered that that scheme be wound down so that people could get what they have paid for adding that it is the responsibility of the Discos’ to provide meters for their consumers and so wind down what they have collected.

“We must bring mutual trust in the provision of power and those are some of the emerging issues again and if people have paid for something they deserve to have it and if you can’t do it wind down the scheme. Let’s hold you now fully responsible, you have a market tariff you go and meter. All of these

SUCCOR FOR RURAL DWELLERS

L-R: Business Executive, Sterling Bank Plc, Mr. Obiajulu Egbarin; Chairman, Haske & Williams Limited, Mr. Abdullahi Bashir; Project Director, Haske & Williams Limited, Mr. Oladipo Williams; and Group Head, Agriculture Finance, Sterling Bank Plc, Mrs. Bukola Awosanya, at the signing of the development lease agreement between BattaTraditional Council and Manomi Support Services Limited for the development of Irrigated and Mechanised Paddy Cultivation Estate project in Demsa Local Government Area of Adamawa State, supported by Sterling Bank…recently

NPA Boss: Smugglers Import Mostly from Cotonou Nosa Alekhuogie with Agency report The Managing Director, Nigerian Ports Authority (NPA), Habib Abdullahi has described the nations’ ports as highly competitive, pointing out that those who prefer to import through the neighbouring Cotonou port are “smugglers” who are trying to evade government’s import policy.

Speaking in Lagos on Wednesday, Abdullahi also confirmed the Nigeria’s port concession exercise executed by the federal government and concessionaires also known as private terminal operators, as a major accomplishment.

Ships and ports quoted the

NPA boss to have said: “People are complaining that this port is congested which means there is a lot of business. And at the same time, there are other factors that work against bringing in goods through the country.

He added: “The economy itself is encouraging smuggling.

People smuggle because of some of the economic policies.

Some people say that the port is expensive but compare it with other places in the world. People do not know how much it costs to import but are just peddling rumours that it is cheaper to import through Cotonou ports.”

Speaking further, Abdullahi said: “The maritime sector is dependent on import and export of goods. So definitely, there is less business now in the

ports. Less business means less revenue for us. That in itself is a very big challenge.

It is actually because it is cheaper to smuggle goods through the Cotonou ports as they dodge the fee they are supposed to pay. So the issue is not necessarily what people think. Our port is relatively competitive and if you ask the terminal operators, a lot of people are making money; otherwise there would not be so many applications for people wanting to set up the seaports in Nigeria. I am hoping that with the seriousness of Customs now, all that will change very soon.”

The NPA boss also revealed that the port concession has affected its revenue positively, over the past ten years.

“The port operation has become more efficient and we are assigned to take our own kind of responsibilities.

The volume has increased; the concessionaires themselves now have to go out to look for market, which increase the volume of business.

If you compare all that to our annual report, for instance at 7 and 6 per cent or 7 and 5 per cent, and what we have earned between 7 and 15 percent, the difference is clear. I have said it everywhere that when people say that the concession is not working, it is not a success; I disagree with them. The port concession is a success and I think there are challenges which I believe could be much better,” he stated.

things are happening at our monthly meetings and we are also holding the Discos now to their committed timelines for metering and we are also asking them to file returns”, he said.

In the words of the Minister: “We ask them ‘who have you metered? We want to see the details if you tell us you have metered xyz’. This will be an ongoing exercise until we finish, we also need to be fair because if since 1960 that we started public power and we have not metered everybody when our population was not as much as this , do we honestly think this can happen in five months?

“But ultimately this will happen because there is a business end to it and for those who are bringing in the meters they also need to bring in high quality meters because they have a duty to protect both the consumers and the Discos”, Fashola said.

On Housing, the Minister promised that his Ministry would ensure that standards are maintained in the provision of houses for the public whether by government or the private sector adding that no consumer would like a house which he bought during his or her active years to collapse when he is no longer able to work.

“When we build a house it stays built. We have proven capacity to do that; we want to build a house that you do not need to change anything when you move in, that is the kind of quality that we are looking at and it is important to speak to the point that in the quest to get what we termed as affordable housing people have settled for less and in that process people have paid more”, he said.

Noting that the Consumer Protection Council has been there all along, Fashola declared: “We have built so many things

that we have not used, we have made so many laws that we have not used and it just requires a new kind of leadership, the kind that you are showing now, the kind that our President is showing now. All the essential ingredients to be a great nation, to be successful and happy people were already provided, there is nothing new to plan” .

“We have done master plan after master plan and so I am going to be a little detailed to show that what we need to do now is start doing things and to see the Consumer Protection Council step up now means that somebody is speaking for me.”

“All of us will benefit and it will raise the quality and standards of service and will hold service providers to account and Nigeria will ultimately benefit when we have that kind of society where there is more accountability and transparency”, he said Earlier in her remarks, the Director General of CPC, Atoki, had lamented that in spite of measures being put in place by electricity industry regulators to ensure effective service delivery; CPC was still receiving myriads of complaints against operators in the sector.

The Director General, who commended the Minister for coming up with consumercentred agenda for the three key sectors, Power, Works and Housing, under his portfolio, particularly his commitment to ensure significant improvement in electricity supply to consumers to measure up with increase in tariff, however advised him to introduce policies and regulatory measures that would set the ground norms for licensing and operation of estate developers and standardise housing development.

FAA Orders Fix for GE Engines on B787 The US Federal Aviation Administration (FAA) has ordered an urgent fix for General Electric engines on up to 150 Boeing 787 Dreamliners, a step to avoid engine failure in icy conditions.

Reuters reported that the FAA said it was requiring modifications to prevent fan blades from rubbing against the engine casing, which can cause “damage and a possible in-flight non-restartable power loss of one or both engines.”

The measure was prompted by a report in January that such rubbing caused vibrations, leading the pilot to shut down the engine, a GE spokesman said. Ice that entered the engine during flight caused the fan blades to move forward slightly where they contacted the casing he said.

Boeing and GE issued advice on fixing the problem in April and about 40 engines have been repaired so far, the companies said.

The modification takes about 16 hours and involves grinding down the engine casing by about one-tenth of an inch to

create more space for the fan blades and prevent rubbing, GE said.

“Because the shaving occurs in front of the fan blades, we expect almost immeasurable performance impact on the GEnx engines from this action,” GE spokesman Rick Kennedy said.

Planes with two of the affected engines must have at least one engine modified by October, the FAA said in an airworthiness directive. The order applies to GEnx-1B engines with Performance Improvement Package 2, the companies said.

The GEnx-1B engine has logged more than 3 million hours on more than 250 aircraft since it went into service, the companies said.

The FAA also ordered Boeing to update the 787 flight manual to include procedures for ice removal.

The problem is unrelated to an icing risk that arose in November 2013 and prompted Boeing to bar airlines from flying near high-altitude thunderstorms, GE said.

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FBN Chair Urges FG to Invest in SMEs for Economic Growth Ugo Aliogo The Chairman, Board of Directors of First Bank Nigeria, Mrs. Ibukun Awosika, has called on the federal government to invest massively in Small Medium Scale Enterprise (SMEs) sector, noting that SMEs are the engine of economic growth in any society.

She stated that 75per cent of the population who are under 40 are unemployed, and it is absolutely impossible for the multi-nationals to create the jobs, “because efficiency in technology is reducing the number of people that are required in the work place, and every company has a right to lead the way towards efficiency.”

Awosika who disclosed this at the 2016 grand finale of the Total Startupper award of winners’ event, organised by Total in Lagos at the weekend, said that the country has a large number of graduates who have the basic mind knowledge that can be applied to solve the basic challenges we are facing as a nation.

She pointed out that their knowledge can be used to

bring solutions that can be commercialised and also be used as an alternative to create employment. “This is what I believe Total is facilitating and it is something I’m passionate about. At first bank, we are trying our best to support SMEs from the financial service sector area, therefore, it is a pleasure for me to support total through this process in their commitment to build a new generation of Nigerians,” she added.

Awosika who was also the head of the jury of the total startupper challenge, noted that the initiative was not just aimed at only bringing alternative source of energy, but also to challenge young Nigerians to think, look at problems within their environment and find commercially viable solutions, “Total had this initiative going on simultaneously in all Africa countries where they were operating”, she added.

She said: “The one we are having today is the Nigeria version. The Nigeria winner is on his way to Mauritius to join the other winners from the other Africa countries for the Africa competition. There were

thousands of applications and there were different stages of processing those applications.

There were also elimination and winners were picked at different stages. These winners moved unto the next stage until we had the final ten.

“At the stage of final ten ideas, we had major presentation by each individual in details. All the members of the jury could ask questions about the project, in order to understand the viability of the project, the impact of the project to the society, the jobs that will be created with the project, the commitment of the entrepreneur to the process and the innovativeness of the process. It was the last group of ten that gave us our three winners.

“The first winners solved a problem that he experienced for 25 years of his life. His project was about the safety of using gas, he has created a cooking gas which if there is a leakage, it cuts off by itself, which is an intelligent cooking system.

This will serve a lot of families and remove many threats in that regard.

“The first runner up

started her project during her National Youth Service Corp (NYSC) in Osun State.

She discovered a problem around where she served, she did not drop it, but kept thinking about how to link the farmer with the market and how to link the famer with the buyer. In order to ensure that the product they grow and it will be used to meet a particular need. The project was about is using technology and the mobile platform to solve a problem.

“When you at the three winners, the solution they have provided are solutions that will serve millions of Nigerians and millions of the other Africa lives. Ultimately, with the support of the Total process, the education, trainings, mentoring, and empowerment will go a long way to help them. The money is not for them to go and spend, it is meant for them to execute the project at different stages along the line.

They will get different portions of the money as milestones to execute the projects, so that they can build a viable project that can employ other Nigerians.”

ITF to Strengthen Students’ Industrial Work Experience Obinna Chima The Industrial Training Fund, (ITF) said it has commenced move to strengthen the Students Industrial Work Experience, (SIWES) in order to stimulate and sustain industrial development, grow the economy and create jobs in line with the vision of the federal government.

Speaking during a stakeholders’ summit organised by the agency, the acting Director General of the agency, Mr. Dickson Onuoha, said the ITF will also meet regularly with both regulators and other stakeholders to think outside the box so as to improve the standard of the SIWES scheme.

He explained the SIWES scheme was established by the federal government to solve the problem of lack of adequate skills preparatory for employment in the industrial sector by Nigerian graduates of tertiary institutions.

Noting, however that the scheme, which exposes and transits students from classrooms to the practical world has been grappling with the challenges of inadequate funding due to increasing demands on governments revenue and the increase in the number of students graduating from the nation’s tertiary institutions, Onuoha said called for a reduction in the number of programme has become necessary in order to make SIWES more effective.

A statement from the ITF stated that the SIWES was capable of bridging the gap between theory and practical realities in the nation’s industrial sector, pointing out that ITF will continue to evolve innovative methods, considering that the scheme has continued to prepare students for the world of work.

The stakeholders’ summit was attended by representatives of the Federal Ministry of Industry, Trade and Investments, the Federal Ministry of Finance, the Manufacturers Association of Nigeria, (MAN), the National Universities Commission, (NUC), the National Board for Technical Education, (NBTE).

The National Commission for Colleges of Education, (NCCE) and representatives of various students’ union groups from the National Association of Nigerian Students, (NANS) also attended the summit.

According to Onuoha, ITF will continually strive to remain the leading human resource development organisation that will be focused on improving industrialisation and quality of working life. The agency, he said, will also remain focused on achieving the cardinal goals of the federal government that emphasises job creation and youth empowerment.

The acting director general disclosed that the re-organised and strengthened SIWES administration, coupled with understanding with stakeholders will facilitate the training and development of youths and entrepreneurs in the country.

He further noted that the collaboration with stakeholders was critical in order to have an effective local skills and manpower development that can drive the federal government’s economic diversification agenda.

On his part, the Director General of the Manufacturers Association of Nigeria, (MAN), Mr. Remi Ogunmefun, said the association will effectively collaborate with the ITF to ensure practical experience was extended to Nigerian graduates in the nation’s industrial and manufacturing sectors.

CouruerPlus Gets Global Recognition MEDIA PARLEY

R-L:Managing Director,Intermarc Consulting, Mr.Adeyinka Adeyemi and the company’s Assistant General Manager, Business Development, Ms. Davida Chibuike-Ahuama at a press briefing on the forthcoming Card and Electronics Expo in Lagos…recently PHOTO: AKINWUNMI IBRAHIM

Lagos Reopens Lekki Gardens Raheem Akingbolu The Lagos State Government has ordered the reopening of the residences of Lekki Gardens, which had been shut on the instructions of Governor Akinwumi Ambode over a month ago.

The reopening order followed a series of protests embarked upon by Lekki Garden Residents’ and Homeowners’ Associations in the aftermath of a newspaper advertorial inviting investors in the estate to engage the services of a law firm to file a class action to seek judicial reprieve.

After a meeting from which a communique entitled: “Committee of Lekki Garden Residents’ and Homeowners’

Associations,” emanated, the association marched on the office of the Lagos State Governor, in Alausa. Realising that the governor was out of the office at the time of their arrival, they moved on to the neigbourhing Lagos State House of Assembly where they submitted a copy of their communique for onward transmission to the governor.

In the communique, members contradicted the position canvassed in the publication sponsored by Ms. Funke Aboyade that the investors suspected that the buildings being built by Lekki Gardens were defective and that the class action suggested by Aboyade was not in the interest of the

residents and owners of the buildings.

According to the communiqué: “Houses developed by Lekki Gardens already belong to investors as the homes are sold ‘off plan’ and that amongst owners of the buildings were very experienced lawyers who have all decided to “identify with and actively work together with the various residents and Homeowners Associations and the Home Owners and Residents Forum of Lekki Gardens Estates in the various steps being taken by them to protect the investments of all the Home Owners, Residents and Investors without exception.”

Ambode ordered that the entire Lekki Gardens estate be

evacuated within 14 days, on March 15 following the collapse of the five-storey building under construction in the estate.

Shortly after, the state government ordered the sealing off of the estate, making it impossible for home owners to have access to their homes. But in a statement jointly issued by the residents, they expressed their minds over the issue and urged government to reconsider its decision.

“Having that having bought into the Lekki Gardens estate with our hard earned money we were surprised that on return from work today 20 Wednesday 2016 that we have been locked out from out estate without prior notice”.

CourierPlus Services Limited has been declared winner of the 2015 Associates Sales Challenge Global Award by TNT Worldwide among courier companies in the group in Asia, Middle East and Africa.

At an award dinner in Lagos recently, CourierPlus General Manager, Associate for Asia, Middle East and Africa, Mr. Tim Steel, commended the CourierPlus team for winning, inspite of the challenging economic and political situation in Nigeria.

He attributed the success to the shared passion for customers and superior quality service by TNT and CourierPlus.

The competition was open to a total of seven leagues comprising of 28 associates countries worldwide namely Africa and Middle East League 1, Africa and Middle East League 2, Africa and Middle East League 3, Americas League 1, Americas League 2, Europe League 1 and Europe League 2.

Courierplus was placed in Africa and Middle East League 2 and emerged winner in that category. Also from all the seven leagues globally at the end of Q4 of 2015, CourierPlus was declared the overall winner in the global sales challenge.

TNT Georgia claimed second Place and TNT Malta took the third position.

The Managing Director of CourierPlus, Mrs. Adetutu Sanni, who received the award on behalf of her organisation, thanked TNT for the recognition, adding that it will act as a huge motivation for her and her team to work harder to give cutting edge services to customers.

CourierPlus is the leading express courier and logistics services in Nigeria with offices across Nigeria offering wide range of delivery management solutions to all sectors of the economy.

The company is a subsidiary of Superflux International Limited.

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African Ministers Discuss Aviation Security with ICAO Council President African Ministers responsible for aviation security and facilitation met with the President of the International Civil Aviation Organisation (ICAO) Council, Dr. Olumuyiwa Benard Aliu, in Windhoek, Namibia, to address challenges concerning aviation security and facilitation in Africa through the implementation of a Comprehensive Regional Implementation

Plan for Aviation Security and Facilitation in Africa (AFI SECFAL PLAN), according to African Aerospace Weekly.

During his address to the assembled dignitaries and high-level officials, Aliu said: “Recent incidents illustrate that there is no doubt that aviation is, and remains, a target of choice for terrorists, and the global policy and regulatory framework have

become much more responsive to this very aspect of today’s dynamic risk context. This response was enabled by ICAO’s steadfast commitment to aviation security and facilitation, which also enabled our Member States to realise greater benefit from our capacity-building and targeted technical assistance activities. This work is a key priority for us today under

Australia Watchdog Looks to End ExxonMobil, BHP Joint Gas Sales Australia’s competition watchdog wants to break up a marketing joint venture between ExxonMobil Corp and BHP Billiton to help boost competition in the eastern Australian gas market, Reuters reported on Friday.

Following a year-long investigation into gas supply concerns, the Australian Competition and Consumer Commission (ACCC) concluded suppliers have “taken advantage” of potentially lower gas supply to eastern Australia end-users to raise prices and place onerous conditions on buyers.

The study also found that pipeline operators in the region exercised market power to implement monopoly pricing.

The operators were getting away with charging rates that gave them a return on equity up to 20 times higher than in recent decisions by the nation’s energy regulator, the ACCC said.

The gas supply tightness driving the higher prices followed new liquefied natural gas (LNG) plants built to export gas from Queensland

that left less available for the domestic market.

At the same time, with production declining in southern Australian states including Victoria, gas users are becoming more dependent on supply from the Bass Strait, produced and sold by ExxonMobil and BHP’s Gippsland Basin Joint Venture (GBJV).

“The reduction in the diversity of gas suppliers in the southern states has substantially strengthened the competitive position of the GBJV,” the ACCC said.

The commission said that gas users in the southeast states, including Victoria and New South Wales, would have to pay substantially more for gas if they had to turn to supplies piped from Queensland that also have outlets to higher-priced international markets.

One step it outlined to help deal with the problem for end-users was to consider ordering ExxonMobil and BHP to sell gas separately.

Both companies are fighting the move, with ExxonMobil saying that separate marketing

would increase costs.

“Any unwinding of joint marketing will only increase those costs in the short term and make it more difficult to invest and bring on new supplies in Gippsland,” it said.

BHP said the joint venture, which has been producing for more than 45 years, had served the market well and was still meeting the market’s needs.

The commission also said more regulation was needed in the pipeline sector, sending shares of pipeline operator APA Group down 3 percent on Friday.

Manufacturers, including explosives and fertiliser maker Incitec Pivot Ltd, prompted the investigation, saying they were having difficulty lining up long-term gas supplies beyond 2016, which coincided with the start of LNG exports.

“The additional ACCC reviews, in particular the investigation of the Gippsland Basin Joint Marketing Arrangements, are very important and should proceed quickly,” Manufacturing Australia Chairman Mark Chellew said in an emailed statement.

Diamond Bank to Reward 41 Customers with N25m in Promo Forty- one customers will be rewarded with N25 million and a brand new SUV

by Diamond Bank Plc in its DiamondXtra Season 8 South-West Regional draw on April 28, 2016 in Ibadan, the Oyo State capital.

The bank said in a statement that the draw would be held in line with a new directorate structure created to enhance penetration of its services across the country.

The DiamondXtra Draw, which is in its eighth season, has come a long way in impacting the lives of new and existing customers of the bank that had participated in the promo over the years.

The draw is a unique customer reward scheme tied to the DiamondXtra account proposition which aims at promoting savings culture among Nigerians by rewarding them for saving.

According to Head, Corporate Communications Division of the bank, Ayona Trimnell, Diamond Bank is very passionate about the benefits of financial inclusion, noting that bringing the unbanked into the banking system and making them to save and plan for the future is what sustains any economy.

“In this Season 8, Diamond Bank will create more millionaires in Nigeria by empowering them with the resources to change their lives and, also, be active participators in the economy.

One of the winners would be rewarded with a brand new SUV. That is how much we value our customers”.

She explained that with a deposit balance of only N5, 000 a customer is qualified to participate in the draw and multiples of that amount increases the customers chances of winning.

“The initiative was launched in July 2008 and has rewarded more than 4,000 Nigerians with a cumulative cash reward of more than N4 billion. The Season 8 edition promises to be more rewarding as the Bank has reaffirmed its commitment to empower a total of 1,085 customers with over N600 million,” she said.

Beginning from April 1, 2016 every new and existing customer of Diamond Bank Plc in the South-East who saves a minimum of N5, 000 in a DiamondXtra account will stand a chance to win the star prize of a brand new SUV; 10 customers will win N1 million each and 30 others will win N500,000 each.

A customer stands a better chance of winning if he or she saves more because every N5, 000 in the account of a customer represents one entry ticket into the draws.

our No Country Left Behind initiative.”

In her opening statement, the Prime Minister of the Republic of Namibia, Mrs. Saara Kuugongelwa-Amadhila, underscored the importance of security in the development of any economic sector, including air transport and tourism.

She also observed that Africa was not immune from emerging threats such as cyber threat and other acts of unlawful interference to civil aviation, and highlighted that the implementation of the ICAO AFI SECFAL Plan would play an important role in near-term and long term aviation security and facilitation progress.

African Ministers responsible for aviation security and facilitation adopted the Windhoek Declaration and Targets during the event, stressing they would seek to effectively implement ICAO Standards and Recommended Practices (SARPs) and enhance the oversight thereof towards the targets’ attainment.

The two instruments would be forwarded by the African Union Commission (AUC) and would eventually be considered for endorsement at the African Union Assembly of Heads of State and governments scheduled for this July in Kigali, Rwanda.

“ICAO expects that today’s event will eventually be looked upon as a milestone in the evolution of civil aviation security and facilitation in Africa,” President Aliu confirmed.

“ICAO’s AFI SECFAL Plan has now become a framework through which African States, donor States, organisations and industry coordinate their efforts and activities, and this event presented us with a unique opportunity to agree on the establishment of sustainable targets and goals in order to reach a comprehensive political commitment.”

Aliu thanked Namibia for hosting the Conference, expressing his gratitude at its offer to champion the implementation of the Windhoek Declaration in the coming years, and to promote the ICAO AFI SECFAL Plan as a suitable cooperation and coordination mechanism for all related initiatives.

He held bilateral meetings with the Namibian Minister of Works and Transport, the Permanent Secretary of the Ministry, and the Director of its Civil Aviation Department.

He also undertook follow-up discussions with the Nigerian Minister of State Aviation, the Director General of the Nige-

rian Civil Aviation Authority (NCAA), and other officials on implementing the Action Plan on the conclusions of an earlier meeting with the President of Nigeria.

Aliu was joined by the President and Secretary General of AFCAC while in Namibia to discuss, inter alia, continuing collaboration with ICAO to enhance aviation safety, security and capacity building, and its help in assuring the rapid endorsement of the Windhoek Declaration and Targets by the next summit of AU Heads of State and Government.

During the Conference, the ICAO Council President also met with Mr. Sergio Mujica, Deputy Secretary General of the World Customs Organisation (WCO), Mr Francis Rwego, Assistant Director, NCB Regional Police Services (INTERPOL Regional Bureau, Nairobi), and Mr. Gilbert Faure, Director General of Seychelles Civil Aviation Authority (SCAA). The discussions covered matters of mutual interest including joint training and capacity building programmes, coordination with INTERPOL, and tailored assistance to enhance effective implementation of aviation security and facilitation oversight systems, respectively.

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How SEC is Unlocking the Potential in Financial Markets The Securities and Exchange Commission understands that Nigerian capital market has the potential to serve as a catalyst for getting more people into the financial services industry, writes James Ume The Director General of Securities and Exchange Commission (SEC), Mounir Gwarzo, already understands that the potentials of the Nigerian financial market are enormous and have to be unlocked early to create wealth for the country.

That is why he is implementing key policy initiatives meant to deepen the Nigeria financial market, boost investors’ confidence and drive investment with new technologies.

Like the Central Bank of Nigeria (CBN), SEC is aware of the impact of bringing more people into the financial market by creating seamless dealing platforms that raise confidence level in the market to not only sustain investors’ interest but deepen the financial market.

The e-dividend management system, which was launched last year by the commission in collaboration with the CBN and the Nigeria Interbank Settlement System (NIBSS) designed to enable investors have direct access to their dividends, has enjoyed some level of compliance from the investing public.

Gwarzo said the commission’s concern was to bring back retail investors to the nation’s capital market. “Our prayer is that in the next 10 years we will raise the participation of the retail investors to 45 per cent from less than two per cent presently,” he said.

He is also aware of the need to attract cheap funds into the financial market and get key sectors of the economy including power, telecom, oil and gas listed on the local bourse to not only create more tax net for the country, but to serve as engine room for economic development.

The SEC boss has said the Nigerian capital market has amazing potential to serve as a catalyst for financial inclusion.

Speaking at the second Regional Roundtable on Non-Interest Capital Market in Sokoto, he stated that while most people identify capital markets as important sources of mediumto-long term capital, few realise their amazing potential to serve as catalysts for bringing so many people into the financial services sector in the interest of the economy.

“SEC is determined to unlock this potential of the Nigerian capital market. In particular, we are aware of the need to deepen the non-interest capital market space. This is to enable millions of Nigerians and people of faith to invest savings ethically. Investors worldwide are increasingly allocating their resources into Islamic finance products,’’ Gwarzo said.

Deepening Islamic finance market The SEC boss also has interest in deepening the non-interest banking segment of

Gwarzo

the economy. He disclosed that total assets under management in the global Islamic finance industry had surpassed $2 trillion (N394 trillion) by the end of 2014, adding that the global sukuk market continued to witness remarkable growth since after the 2008 global financial crisis with annual issuances growing from $15 billion in 2008 to almost $120 billion in 2014 hence the need for Nigeria to key into it.

Only recently, Osun State floated the country’s first Islamic bond, taking a major step towards developing an Islamic finance industry in the country. Analysts said the Nigerian sharia-compliant bond issued by the state while relatively small at $62 million, signalled the start of a trend.

Last year was widely considered a landmark year for Islamic finance, especially with debut sukuk issuances by countries such as the United Kingdom, Hong Kong, Senegal, South Africa and Luxemburg.

There is no doubt that the sukuk market is emerging on a global scale as a viable alternative source of funding. In Nigeria, SEC has implemented a number of reforms aimed at deepening the non-interest capital market. For example, Gwarzo said the commission focused on the regulatory framework, reviewing the rules and introducing new ones.

“In particular, we issued rules

on Islamic Fund Management as well as rules on sukuk issuance. These two legal frameworks have encouraged Islamic product innovation with the registration of five ethical/shariah compliant funds and the issuance of Nigeria’s first ever sub-national Ijara Sukuk by the Osun State government in 2013, which was oversubscribed. We are also considering modalities for setting up a Sharia Advisory Council as a body of experts to advise SEC and the market on non-interest products and their applications,” the SEC DG said, adding that state governments could leverage on the sukuk market to raise funds for developmental projects.

“We are working closely with the Debt Management Office (DMO) to ensure Nigeria issues her first sovereign sukuk that will provide the needed benchmark for other categories of issuers. We are hopeful there will be a significant progress on this front before the end of 2016,” he said.

Meanwhile, an international expert on Islamic finance, Sheik Abdulkader Thomas, said deposits from non-interest banking could be deployed into infrastructure funding and other developmental projects.

Thomas, who is an American living in Kuwait, described Nigeria as a huge market for non-interest banking given its large population base. He

said the banking concept is a viable means of gathering huge deposits, adding that although Nigeria’s infrastructure is seen as a weakness, deposits from non-interest banking can be used to fix it.

He said, “Nigeria has very large population. We believe that non-interest banking will be very important to gather savings from the grassroots population,” he said.

Similarly, a Lagos-based stockbroker, Kingsly Ayoola, said prospects for Islamic finance are very bright. He said the finance system has become necessary since a very significant proportion of Nigeria’s population strongly believe that based on the nature of the capital market and the dictates of their religion, they cannot invest in the market.

He said there is, therefore, need to develop products that are attractive to these set of investors to allow easy flow of their funds into the market. e-Dividend Aside the need to deepen Islamic finance market, the SEC said it would bear the cost of e-dividend registration for investors that register on time. It said that within three months, the commission has achieved over 4,000 per cent growth in the number of investors that registered to have access to their dividends.

SEC noted that the e-dividend management system meant to enable investors have direct access to their dividends, has enjoyed high level of compliance from the investing public.

The commission has also embarked on various initiatives like e-Dividend, Direct Cash Settlement, National Investors Protection Fund (NIPF), among others, to attract retail investors to the market.

“As a country, we have only less than 2 per cent participation of retail investors in our market. Malaysia has 9 per cent, South Africa, 19 per cent, United States of America, 43 per cent, and United Kingdom, 13 per cent. So our market is highly less being participated by the retail investors. Due to the dominance of foreign investors, anytime they move out of the market, the market goes down. Our effort is to see that in the next five to10 years, we raise the level of involvement of the retail investor to at least five per cent,” Gwarzo said.

Power, telecom sectors’ listing SEC is also leading moves to get the power generation and distribution companies as well as the telecommunications firms operating in the country quoted on the NSE and/or the NASD OTC securities market.

The continued absence of the companies from the NSE and NASD, analysts said, was mak-

ing the country to lose huge revenue through taxation.

They believe that very high percentage of taxes paid to the government comes from quoted firms hence it would be in the interest of the country that these companies and more are listed on these markets.

The SEC DG said the call for listing by the firms was hinged on the need to give the capital market the required depth to drive economic growth for the country.

Financial Inclusion In the areas of financial inclusion, it is on record that the SEC, CBN and other stakeholders are already addressing regulatory gaps and market structures hindering financial inclusion for the unbanked Nigerians and this collaboration is expected to improve the number of Nigerians that are financially included.

It would be recalled that the Lagos Business School (LBS), supported by the Bill and Melinda Gates Foundation, launched a multi-million dollar research project to deepen financial inclusion projects.

Deputy Director, Bill and Melinda Gates Foundation, Kosta Peric, said the foundation’s collaboration with LBS reflects its vision for Nigeria. For him, having an account or financial wallet is the first step for the poor unbanked population to move out of poverty line and any policy that discourages this step is distasteful.

Peric called on banks and government to avoid any steps that would discourage poor Nigerians from embracing banking services. “Our goal is to ensure that all people, especially those with the fewest resources, have access to the opportunities they need to succeed in life,” he said.

LBS don, Dr. Enase Okonedo, agrees with Peric that financial inclusion is a key driver for economic development and growth even as access to financial services improve the lives of the poor. She called for a broadening of the reach of low-cost digital payment systems, particularly in poor and rural areas so that by 2020, the rate of financial inclusion in Nigeria will grow from the present 60 per cent to 80 per cent.

“There are numerous challenges to overcome if Nigeria is to meet its goal. It means at least 18 million new users of financial services must be signed on in the next four years. But achieving this will require government and banks making banking attractive to the poor and avoiding policies that discourage grassroots banking,” she said.

- Ume wrote in through umejames12@yahoo.com

37

T H I S D AY • MONDAY, APRIL 25, 2016

BUSINESSWORLD

NEWS

CSL Stockbrokers, Renaissance Capital Rate UBA’s Q1 Results High Goddy Egene Financial analysts from CSL Stockbrokers and Chapel Hill Denham and Renaissance Capital have rated the first quarter results of United Bank for Africa (UBA) Plc high. UBA reported gross earnings of N74.13 billion for the first quarter ended March 31, 2016, down from N83.1 billion in 2015 but grew its profit after tax (PAT) from N16.956 billion to N16.986 billion.

Reviewing the performance, analysts at CSL Stockbrokers, (a subsidiary of the FCMB Group) noted that the bank maintained the

strong run-rate from last year, with net profits coming ahead of consensus expectations.

For analysts at Chapel Hill Denham, they noted that the profit of the bank translates to annualised return on average equity (ROAE) of 21.7 per cent, which outperformed their 15.3 per cent forecast and Bloomberg consensus expectation of 16.3 per cent.

Analysts at Renaissance Capital said that the profit was 13 per cent higher than their forecast, mainly due to lower than expected impairment charge, as the bank maintained its benchmark asset quality; 1.7 per cent NPL ratio and 0.4 per cent

cost of risk.

Notwithstanding regulatory removal of commission on turnover, which is now zero, in line with the CBN 2016 Revised Guidelines on Bank Charges, UBA grew fees and commissions by 12.5 per cent to N15.3 billion in Q1. Analysts at Chapel Hill Denham said the impressive growth in fees may be due to higher electronic banking income. This strong growth in fees may be unconnected to the bank’s recent investment in its digital banking platforms, as explained by the Group Managing Director, Phillips Oduoza, at his recent conference call with analysts

and investors.

Oduoza said that whilst the bank’s strategy of investing in alternative service platforms like online banking, mobile banking, social media banking, ATMs and PoS was to efficiently service its growing customer base and deepen financial inclusion at a relatively lower cost, the investment in digital technology has proven to be worthwhile, as it is helping the bank to grow its transaction banking volumes, with attendant fee income.

Analysts at Chapel Hill Denham noted that the improved deposit mix and lower cost of funds indicate that UBA is gaining strides on

penetrating the retail space.

The bank grew loan book by one per cent in Q1 with the net loan book settling at N1.05 trillion as at March 2016, compared to N1.04 trillion in December 2015. According to the anaysts, UBA benefited from lending opportunities, despite the tough macroeconomic environment during the period.

They, however, the analysts said it will still be difficult for the bank to meet its 10-15 per cent net loan growth target for the year, despite exploring new opportunities for risk asset creation. To most analysts, a differentiating factor for UBA Plc is its tight hold on

asset quality, which ensured moderate impairment charges and strong profitability.

Summarising their position on UBA’s result analysts at CSL Stockbrokers noted that barring any negative surprises that significantly raise the bank’s cost of risk in subsequent quarters, at the current run-rate, earnings are set to surpass 2016e forecast.

Thus, they noted there is significant upside potential relative to their target price of N7.10 on the shares of UBA Plc. Analysts at Chapel Hill Denham maintained their earnings forecasts, target price of N5.78 and BUY rating on UBA shares.

Operator-Led Mobile Money Services Yet to Gain Traction in S’Africa Operator-led mobile money services in South Africa have yet to gain traction, the Senior Analyst at Analysys Mason, Devine Kofiloto has said.

Kofiloto noted in a report made available to THISDAY that operator-led mobile money services in South Africa had failed to gain traction because of competition from mass retail chains and banks, which have been more successful in addressing the needs of both the unbanked and banked populations.

The report however pointed out that operators need to reposition their mobile money services in order to appeal to specific use cases that are not being adequately met in the market Operator-led mobile services have had limited appeal in South Africa, despite attempts to rekindle interest by relaunching them.

According to Analysys Mason’s latest research, the number of active users of operator-led traditional mobile

money services in South Africa was under 200 000 in 2015, whereas financial institution-led mobile money services had close to 1 million active users.

Vodacom and MTN re-launched their mobile money services in 2014 (following initial launches in 2010 and 2012, respectively) in a bid to spur consumer interest and adoption.

“We project adoption of operator-led money services to remain low, with the active share of registered users reaching

just over 300 000 by 2020.

Intense competition and regulatory constraints have limited operators’ share of the mobile money market.

“South Africa has the highest level of financial inclusion in Africa – 70 per cent of the adult population in South Africa have a bank account and financial institutions are in a better position than mobile operators to offer mobile financial services to their current customer base,” it added.

The report showed that

the most–popular mobile money service adopted by smartphones users is First National Bank’s (FNB’s) ewallet service – a preference expressed by 19 per cent of the respondents interviewed in the firm’s forthcoming Connected Consumer Survey study in South Africa.

International remittances and innovation in advanced wallet services represented an emerging opportunity for operators to differentiate their mobile money offerings.

“Mobile operators can improve mobile money activity rates by facilitating access to the service and improving customer experience. M-money services are not expected to represent an important source of revenue for the majority of mobile operators in the Middle East and Africa (MEA).

However, operators should aim to convert a large proportion of registered m-money customers into active users in order to improve their revenue prospects,” it added.

38

T H I S D AY • MONDAY, APRIL 25, 2016

BUSINESS/MONEYGUIDE

FCMB Strengthens Retail Banking Capacity Obinna Chima First City Monument Bank (FCMB) Limited has assured its customers that it will continue to build a valuable franchise in the retail space.

The bank disclosed that it grants over 240,000 loans a year to corporate players in the telecoms, oil and gas, manufacturing, agribusiness, allied sectors, among others.

It explained that the centre point of its attraction includes its innovative products and service offerings that resonate with the needs and lifestyle of the market as well as its customer service strategy which it stressed is currently attracting customers’ attention.

According to a report from the bank, its conscious drive to carve a niche for itself in service delivery could be seen in its team of friendly, courteous and professional staff carefully positioned across its branches nationwide.

It explained that the staff members are usually willing to go the extra mile to meet the needs of their existing and potential customers, adding that the strategic location of its over 220 branches nationwide and its fast growing portfolio of

alternate channels had been designed to provide prompt and convenient banking services.

To this end, Group Managing Director and Chief Executive Officer of First City Monument Bank (FCMB), Mr. Ladi Balogun said: “We will remain focused on improving operating efficiency, whilst also continuing with our steady customer acquisition drive and consolidation in alternate service channels in order to provide a more consistent and convenient customer experience.

Overall, we are confident our progress will be sustained, as we continue to grow our market share, and improve our margins and efficiency ratios.

“The business is on a sound footing and is increasingly diversified. We do not want to lend to just a few people.

We want to support as many people as we can. It gives a lot of professional satisfaction to realise that we are helping households across the nation to meet very critical needs.”

These developments, it noted had impacted significantly on the profile of FCMB by helping the bank to consolidate its position as the largest retail lender in the country. In the same vein, the bank’s customer base

has been on the rise; moving from 1.8 million in 2013 to 2.5 million in 2014 with a target to further grow this to four million by the end of 2016.

“FCMB now has 689 ATMs, 12,000 Point of Sale (PoS) terminals and 71 agent banking outlets (with a plan to grow to 800 agents), across the country.

On product offering, FCMB has an array of innovative products that cuts across socio-economic and demographic segments.

“These products (current and savings accounts), which are easy to open and affordable to operate, include nairawise, kids account, Flexx account, (a youth product that meets the needs of this very important segment of the population) as well as the e-savings account.

“In the area of electronic payment, FCMB has consistently proved its mettle as a financial institution with robust platforms that ensure secure, convenient and seamless solutions that have been deployed to drive its retail, corporate and commercial banking businesses. The Bank equally has a suite of card products designed to meet the lifestyles of a wide spectrum of users,” it explained.

Access Bank Partners Female Entrepreneurs on Loan Acquisition As part of effort towards supporting women in their entrepreneurial drive, Access Bank Plc has called on women in business to avail themselves of the opportunities in accessing bank loans to grow their businesses.

The bank pointed out that a major problem faced by women in trying to grow their business is the difficulty in getting the requisite fund to either start up or grow their businesses.

Speaking to journalists on the sidelines of a seminar titled: “Demystifying Bank Loan Application Process,” that was organised by the bank in Lagos at the weekend, its Group Head, Products and Segments, Mrs. Ope Wemi-Jones, said the

aim of the seminar was to further strengthen the economic contribution of women in line with the bank’s policy about them.

“The programme we have today is basically built around what we found today very common challenges for women and is titled ‘demystifying bank loan application process.’ Since our entrance into the women market, we have seen women talk about access to finance as the problem, whereas the finance is available, but we’ve also found out that oftentimes the women are not prepared to access the finance,” Wemi- Jones added.

“So the session today is basically to break down the steps to

accessing finance, either from the bank or other available sources and also to introduce them to other existing facilities that they can leverage as women.

“The whole idea is to further strengthen the economic contribution of women and in line with what we set out to do with our women programme which is basically to inspire, to connect and to empower women. So we believe at the end of the day, people will be connected with the relevant information, they will be connected with other women here, they will be inspired by what they will learn, and at the end of the day the opportunities are there for them to choose from,” she added.

Balogun

MARKET INDICATORS MONEY AND CREDIT STATISTICS

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

As part of its commitment to the growth of the Nigerian economy and in line with the growing emphasis of the federal government to diversify the economy, Sterling Bank has concluded plans to champion the use of locally manufactured goods and services by initiating what it has described as the “Made in Nigeria” week from today, April 25 – 29, 2016.

The Bank’s Executive Director, Finance and Strategy, Mr. Abubakar Suleiman explained that the initiative is an opportunity for the bank to promote a sense of pride and confidence in Nigerian grown brands starting with its people.

For the entire week, the bank intend to showcase and celebrate everything Nigerian as a brand that supports indigenously manufactured products.

Other initiatives already undertaken by the bank to

promote local entrepreneurs include, according to a statement by Sterling Bank is its partnership with Innoson Motors Limited, the first indigenous manufacturer of vehicles, to finance the purchase of locally made vehicles produced by the company; the financing and even business patronage of Labana Rice mills, an indigenous rice mill amongst others.

It explained that the campaign would also serve as an avenue to create employment especially for the Nigerian entrepreneurs involved in the production of these goods. The patronage of local manufacturers of local attires for instance, is expected to also boost the local economy especially those in the fashion and shoe making industry, adding that the initiative was one of the numerous initiatives the bank was undertaking to enrich the

lives of Nigerians.

Suleiman added: “This campaign comes at a critical time in the country, a time when there is an increasing call to look inwards especially in the face of the current foreign exchange pressures; pressures that have resulted from the country’s overdependence on oil exports for foreign exchange and global oil sector downturn driven by the falling oil prices which in turn has dampened economic growth and negatively impacted other sectors with prices of imported products and inputs rising significantly.

“For the country to get out of this situation, there is an urgent need to diversify the economy and empower the manufacturing sector in the country. But the manufacturing sector will not strive if they are not patronised

by Nigerians.“

• Source - CBN

MANAGED FUNDS Initial Price (N) Stanbic Balanced Fund

Sterling Bank Promotes Made-in-Nigeria Products

(MILLION NAIRA)

Buying Price(N)

Selling Price

1,660.29

1,685.29

Stanbic IBTC NEF

1,000.00

11,002.32

11,326.67.11

Stanbic SIBond

20

120.47

120.47

Stanbic IBTC Ethical

1

1.10

1.13

Stanbic IBTC GIF

142.90

143.38

UBA Balanced Fund

1.2563

1.2493

UBA Bond Fund

1.3443

1.3443

UBA Equity Fund

0.8205

0.8074

UBA Money Market Fund

1.1510

1.1510

ARM Aggressive Growth Fund

N13.1141

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 21 APRIL 2016 The price of OPEC basket of thirteen crudes stood at $40.11 a barrel on Thursday, compared with $38.46 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

39

T H I S D AY • MONDAY, April 25, 2016

MARKET NEWS

Guinness Profit Dips by 83% to N864m in Nine Months Goddy Egene and Eromosele Abiodun A bleak future awaits shareholders of Guinness Nigeria Plc as the brewing giant has reported a dip of 83 per cent in profit after tax for the nine months ended March 31, 2016. The company had similarly posted a decline of 65 per cent in six months

ended December 31, 2015 due to the challenging operating environment.

Commenting on the half year performance, the Managing Director of Guinness, Mr. Peter Ndegwa had assured stakeholders that the company expected to see some improvement in sales with innovation and the distribution of Diageo’s international premium and

mainstream spirits brands, which have been integrated into its business.

However, that assurance has not manifested as the company recorded a dip of 83 per cent in PAT to N864 million, from N5.216 billion in 2015.

An analysis of the results made available by the Nigerian Stock Exchange (NSE) last Friday showed that Guinness

posted a revenue of 69.618 billion in 2016, down by 16 per cent from the N84.75 billion in 2015.

The management strived to reduce costs as cost of sale, marketing and distribution expenses, administrative expenses, net finance cost went down.

Net finance cost was reduced by 32 per cent from N3.4 billion

to N2.3 billion. Despite that profit before tax fell from N7.134 billion to N1.204 billion.

Although Guinness cut its tax payment by 82 per cent, from N1.917 billion to N340 million, it ended the year with a PAT of N864 million, compared with N5.216 billion in 2015.

On a quarterly basis, Guinness actually recorded a decline of 33 per cent in revenue in the

third quarter from January to March 2016 and loss after tax of N309 million compared to a PAT of N1.8 billion in Q3 of 2015.

In their comments, analysts at FBN Quest said apart from the challenging macro-environment, we believe that Guinness’ limited representation in the value category has been a major factor constraining topline growth.

DAILY STOCK MARKET REPORT T H E

N I G E R I A N

STO C K

E XC H A N G E

36

T H I S D AY • MONDAY, APRIL 25, 2016

CITYSTRINGS Who is After Igbo Traders in Bayelsa?

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

The killing within one month of three Igbo traders in different locations in Yenagoa, the Bayelsa State capital, raises a lot of questions, writes Emmanuel Addeh

Igbo traders protesting the killing of Igbo businessmen in Bayelsa

I

t might have been viewed as a normal occurrence when it first happened, but the killing of three Igbo traders in various locations in the last one month in Yenagoa, the Bayelsa State Capital, has left several conspiracy theorists speculating over the motive of the attackers on some Igbo businessmen based in the town.

Known for their itinerant nature, Igbo traders are everywhere in Yenagoa, where they have literally taken over every space in the town, and controlling almost the entire economic hub with various goods and services.

Many of them, it was gathered, have become so successful that they have built houses in the town and relocated their families from their various states to stay with them in the state capital.

But recently, what has been described as a strange trend has started taking place in the city, with the serial felling of many of the successful traders by suspected gunmen, who have started targeting the ones whose endeavours are flourishing among the lot.

THISDAY learnt that three of such victims are currently lying lifeless in separate mortuaries in Yenagoa, having been killed in the last one month.

The situation has also generated anger among Igbo youths in the town, who, obviously fed up with the incessant killings staged a protest around the town, culminating at the state police headquarters in the state last week.

Almost many of those spoken with on the recent killings, believe that there are certain interests in the state who see the Igbo businessmen as a threat to their own economic survival.

They contend that the attackers are not happy that the economic opportunities that should have been available solely for the indigenes, especially youths of the town, are being enjoyed by those they regard as strangers.

Shocked by the third death in less than a month, several Igbo traders in Yenagoa,

Ugochukwu was close to his house in company of his wife when gunmen operating in commercial tricycles blocked his car.

They dragged him out of the car and forced him into the tricycle. His corpse was discovered the next day at the Azikoro cemetery with his hands and legs tied up

Agodo, killed by unknown gunmen last Monday took their protest to the police headquarters in the state capital, complaining that their safety was no longer guaranteed by authorities in the state.

The angry youths were miffed by the killing that morning of an Igbo businessman identified as Martins Agodo, by unknown gunmen at his residence around Punch Road, Ingbi, in the early hours of Monday.

The armed gang reportedly broke into the

house of the deceased, who owns a popular boutique called Omars Fashion Plaza at the Ompadec area of the Yenagoa-Mbiama Road, killing him instantly in front of his wife.

Eyewitnesses told THISDAY that his house located on Punch Road, was particularly targeted and burgled after the marauders demanded money from their victim, who told them he had no money in the house.

He reportedly told his assailants that there

37

T H I S D AY • MONDAY, APRIL 25, 2016

CITYSTRINGS The Igbos are no longer safe in Bayelsa. We are being killed by gunmen. One was killed at Azikoro, the other one was killed at Tombia and today another one who just got married was killed in cold blood

was no cash at home because shops in the capital city were shut down for about four days in honour of the late Governor of the state, Chief Diepreye Alamieyeseigha, who was buried last Saturday.

For several days, the traders were not allowed to open their shops while the funeral rites were going on. Those who attempted to defy the order were harassed by youths in the town.

After ransacking Agodo’s house, the gunmen were said to have shot and killed him in cold blood in the presence of his young wife, whom he just got married to.

Agodo, in his early forties, would not be the first victim of the brutal murder. It was learnt that Ugochukwu, another Igbo trader in the town was killed along the Azikoro village on his way home after the business of that day while his corpse was discovered the next day at the Azikoro cemetery with his hands and legs tied together.

“He (Ugochukwu) was close to his house in company of his wife when gunmen operating in commercial tricycles blocked his car. They dragged him out of the car and forced him into the tricycle.

“His corpse was discovered the next day at the Azikoro cemetery with his hands and legs tied up. He was a successful businessman who built a big house at the Azikoro village. We are scared”, one of the protesters who wouldn’t give his name for fear of being attacked said.

Another trader who also related how yet another businessman was gruesomely murdered at the Tombia area in the same month, expressed anger over the incessant harassment of Igbo businessmen by armsbearing youths in Yenagoa.

He noted that they are either being intimidated by the youths in their various business centres or being maimed or murdered in the streets, a development he described as unacceptable.

Chief Chinedu Arthur-Ugwa, President, Ohaneze Youth Council (OYC), who led the protest, lamented that Agodo was killed a few days after gunmen suspected to be assassins murdered another successful Igbo businessman, Ugochukwu, popularly called Ugo Best. ‘’The Igbos are no longer safe in Bayelsa.

We are being killed by gunmen. One was killed at Azikoro, the other one was killed at Tombia and today another one who just got married was killed in cold blood.

“We are not happy and we have closed down our businesses to come to the police headquarters to complain that we are not safe. If you cannot guarantee our safety, we will relocate our business and families out of the state’’, the leader said.

He added, ’’this is bad news. We do not know who is next. We have decided not to be violent, but we want assurance that our safety will no longer be taken for granted. We can no longer continue like this; they are killing us as if we are rats.’’

According to the OYC President in Yenagoa, it was no longer a matter of conjecture that someone or a group somewhere was making the Igbo businessmen a target in their dastardly deeds.

Trekking in the scorching sun, the Igbo youths fumed that it was becoming unbearable that even in their own country, they were being alienated and killed one by one.

While receiving the protesters, the Commissioner of Police in the state, Mr. Peter Ogunyawo, in his response, perhaps inauspiciously, first regaled the crowd as to how their protest could not have been tolerated under a military regime.

He told them that if not for democracy and

Protesters marching the streets of Yenagoa

Bayelsa State Governor, Seriake Dickson the grace of the Inspector General of Police, Mr. Solomon Arase, their protest would have been resisted, rebuffed and halted.

He, thereafter told the agitated crowd that death was inevitable and a “debt everyone must pay’’, noting that when or how one would die, was only determined by God. ‘’You know, during the military regime, you couldn’t do this,’’, he started, adding that ‘’this is a democracy and the Inspector General of Police has asked us to listen to every complaint.’’

Ogunyawo continued, ‘’Whatever has happened is unfortunate. No violence is targeted at any tribe. Crime happens

IG Solomon Arase everywhere. Rather than complain, you need to tell us once there’s a feeling that a crime is about to happen. Our patrol team doesn’t sleep’’.

Pointing to a corpse, which was lying in a police van inside the compound, the CP added, ‘’You can see that corpse there.

It’s a robbery case and our men went into the bush to get them and we recovered several arms. ‘’Death is a debt we all have to pay and nobody knows when and how they will pay theirs. It’s not targeted. We can’t be effective if you don’t partner with us.’’

At the time of putting this report together,

THISDAY got information that the killers of Agodo may have been apprehended, but when contacted, the State Police Public Relations Officer, Asinim Butswatt said the police were still investigating the link between the different robberies that took place that particular night and the killing of the Igbo businessman.

But as the security operatives in the state continue their probe of the separate killings, the question on the lips of many remains whether anybody is targeting the Igbo traders in the state for annihilation or it’s just another conspiracy theory by those mostly affected by the premature deaths.

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MONDAY APRIL 25, 2016 T H I S D AY

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MONDAY APRIL 25, 2016 • T H I S D AY

INTERNATIONAL

email:foreigndesk@thisdaylive.com

2 billion People Lack Access to Safe Water, Says Salzberg US to assist Africa in sanitation

Zacheaus Somorin It has been revealed that almost 2 billion people across the world do not have access to safe water - with larger percentage being in Africa.

Aaron Salzberg, Special Coordinator for Water Resources at the State Department’s Bureau of Oceans, Environment, and Science said this recently during a chat with journalists across Africa monitored in Lagos.

“I think many of you already know the global water challenge.

While we have made some progress, today, somewhere between 1.5 and 2 billion people still lack access to water that is safe to drink. More than 2 billion people lack access to basic sanitation. And the proportion of people who lack access to safe drinking water and sanitation is particularly high in Africa, and particularly in poor and rural populations”, he said.

He pointed out that lack of safe water, sanitation, and basic hygiene remains one of the leading causes of death in children under five, and a major source of both physical and cognitive stunting which can have a major impact on development outcomes.

“Many countries throughout

the world remain water insecure, he said, pointing out that the affected population “remain at risk of shortages of water, lack of water for drinking, water for food, for industrial use, or are at risk of floods and other water related natural disasters”.

“Climate change, of course, is exacerbating many of these challenges. This water insecurity is becoming a growing impediment to economic growth, and an increasing source of tension between communities and countries.

The United States is working globally to improve water security. Simply put, what this means is that people have sustainable supplies of water of sufficient quantity and quality to meet their needs, without living in fear of floods and droughts.

This means increasing access to safe drinking water and sanitation, improving water resources management, and promoting cooperation on shared waters”, he added.

He said this is done through a number of ways: capacity building, investment in infrastructure, diplomatic engagement, science and technology cooperation, and through partnerships.

Salzberg stated further that Africa is a particular focus of the United States efforts on

drinking water and sanitation; harping that the United States Congress recently passed the Senator Paul Simon Water for the World Act, which made access to drinking water and sanitation a priority for U.S. foreign assistance.

“The Act requires the President to identify a set of priority countries for U.S. foreign assistance targeted towards drinking water and sanitation,

and many African countries are on that list. So our hope is that we will be working together to make significant progress, particularly in those countries that are furthest behind.

He stressed that Water for the World Act is actually a second piece of legislation looking at drinking water and sanitation from the United States.

“It was a predecessor piece of legislation that was passed

in 2005 called the Senator Paul Simon Water for the Poor Act. And that act was really the first statement by the U.S. Congress, prioritizing access to drinking water and sanitation in U.S. foreign policy and in U.S. foreign assistance. This new act, which was just passed in 2014, takes the previous legislation a step further, and it asks the President to identify priority countries based on

need, and to prioritize U.S. foreign assistance for drinking water and sanitation to those countries”.

He explained further that the real intent behind the legislation is to see whether or not the United States can make significant progress in those countries that are furthest behind, in providing access to safe drinking water and sanitation to its people.

Migrants Seek New Routes into Balkans After weeks of being stranded at a closed border in northern Greece, migrants and refugees are seeking out new, irregular routes to get into Macedonia, clambering through forests and over hills under the cover of darkness.

As dusk fell on Saturday evening, a Reuters witness saw a group of up to 70 people crossing into Macedonia from Greece, at a point where there is no razor wire fence between the two countries. They darted in and out of a forest, hiding from authorities.

It was roughly a 20 km (12 mile), or four hour walk from Idomeni, a sprawling tent city hosting thousands of refugees and migrants stranded by a cascade of border shutdowns throughout the Balkans in February.

Others at the campsite were also mulling their options to leave Idomeni and find vulnerable points along the border to cross into the Balkans, the preferred route to western Europe.

“There is no other solution,” said Moutaz, a Syrian from Aleppo. “Let him (others) put himself in my position, what would he do with this life we are living? Will he be ok with it, what is happening and what he is seeing?”

Human rights organizations say the living conditions at Idomeni are appalling. Fellow

Syrian Eyas from Damascus said he would attempt to cross the Albanian border further west.

“There is a chance you will get there through the Macedonia route but the Macedonian military will send you back,” he told Reuters.

Some people chance the trek on their own. Others use traffickers, who charge anything between $350 and $600 per person to smuggle people across the border.

A million migrants, many fleeing Syria, Iraq, Afghanistan and other countries in conflict in the Middle East, Asia and Africa have poured into Europe through Greece since last year.

There are more than 10,200 people camped out in tents in the fields of Idomeni. Greek authorities have repeatedly urged refugees and migrants to move to organized reception centers elsewhere in the country.

Last month, Turkey and the EU sealed a controversial deal intended to halt the flow of illegal migrants into Greece from Turkey in return for financial and political rewards for Ankara.

There is now growing concern that migrants will increasingly use Italy as their conduit into Europe after the EU-Turkey pact, with more boats coming from North Africa - or even across the Adriatic Sea from the Balkans after the border closures there.

DESPERATE MIGRANTS

Migrants parked in a rubber dinghy during a rescue operation by SOS Mediterranee ship Aquarius off the coast of the Italian island of Lampedusa…yesterday

Congo’s President Names Former Opposition Leader as PM Congo’s President, Denis Sassou Nguesso, has named former finance minister Clement Mouamba as prime minister, bringing a one-time opposition leader into the government, state television said at the weekend.

The appointment comes a month after Sassou Nguesso was elected to a five-year term that extends his long rule over

the oil producing country. Sassou Nguesso led Congo between 1979 and 1992 and returned to power after a civil war in 1997.

Mouamba was a senior member of the Pan-African Union for Social Democracy (UPADS) but was expelled from the opposition party for participating in consultations that preceded a referendum last October on

changing the constitution to allow Sassou Nguesso to serve a third term.

“I have no complex about coming to greet the head of state, the head of the village.

Whatever the nature of the problems, I take responsibility for what I have done,” he said at the time.

The central African country has

been gripped by political violence since the election. Human rights group Amnesty International said on Monday the government bombed residential areas in the country’s south, reportedly killing at least 30 people.

There was no immediate comment from the government, which has in the past denied targeting civilians.

Zuma Visits Iran to Develop Trade, Political Ties South African President, Jacob Zuma, arrived in Iran yesterday to strengthen political, trade and investment ties after crippling international sanctions against the Islamic Republic were lifted earlier this year, his office said.

South Africa is hoping to exploit a market hungry for investment as tens of billions of dollars worth of Iranian assets will now be unfrozen and global companies that have been barred from doing business there will benefit.

Iranian media said the two

countries signed eight agreements on cooperation in areas including trade, industries, investments, agriculture, water resources and oil industry research and development. No details of the accords were given.

Iranian media also said the two countries called for strengthening intelligence cooperation in the fight against terrorism.

In opening remarks after his arrival, Zuma said various mechanisms had been discussed “to strengthen our political, trade,

investment and economic, as well as people-to-people relations between our countries.”

“The lifting of nuclear-related sanctions against Iran provides immense potential for closer commercial and investment cooperation between South Africa and Iran,”the presidency said in a statement.

Iranian President, Hassan Rouhani, said in remarks carried by state television that South Africa had supported Iran during its time under sanctions.

“Today, after the nuclear accords and the end of sanctions against Iran, there is a sharp competition between Asian and European countries for cooperation agreements with Iran, but we will never forget our close friends from the era of sanctions,” Rouhani said, referring to South Africa.

Pretoria is considering building an oil refinery that will process Iranian crude to bolster its petrol supply and reduce its dependence on foreign companies.

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DIPLOMATIC DISCOURSE/INTERNATIONA

Ending Malaria in Nigeria for Good

By James F. Entwistle In the past 15 years, Nigeria has made historic progress in turning the tide against malaria. Since 2011, an aggressive program to fight malaria in Nigeria reduced mortality rates among children under five by 18 percent, and malaria among this same group declined by a remarkable 15 percent.

Although this is impressive, worldwide progress on malaria control during this same period resulted in infection rates dropping globally by 60 percent.

As we commemorate World Malaria Day on April 25, we celebrate this success. The United States, as the world’s leading donor in global health, remains strongly committed to working with Nigeria and all our partners to intensify the efforts to free people from the tremendous burden of malaria.

Despite Nigeria’s tremendous progress, we must remain committed to our fight against malaria.

More than 430,000 people around the world still die each year from this preventable and treatable illness. Ninety percent of all malaria deaths occur in sub-Saharan Africa. The vast majority are children under

five, as malaria kills one of our children every two minutes. Malaria sickens hundreds of millions of people over and over again.

More than half of all school absences in Africa are due to malaria. The disease costs the continent billions of dollars each year in health costs and lost productivity.

In Nigeria, the National Malaria Elimination Program estimates malaria costs the Nigerian economy 132 billion naira ($660 million) annually.

I am proud that the U.S. President’s Malaria Initiative (PMI) continues to play a key role in the global fight against malaria. PMI, which supports 19 countries in sub-Saharan Africa, provides Nigerian communities and families with a mix of tools to fight malaria, including long-lasting, insecticidetreated mosquito nets, indoor insecticide spraying campaigns, the latest drug therapies to treat infections, prevention treatment of malaria in pregnancy, and community education campaigns. Treated mosquito nets are a highly effective means of preventing infection and reducing malaria transmission.

In Nigeria, PMI works with national partners such as the Ministry of Health and the National Malaria Elimination Program. PMI

Buhari also works with international partners such as the UK Department for International Development, the World Health Organization, and the Global Fund to reach and maintain universal coverage with long-lasting, insecticide-treated nets for all individuals living in malaria endemic areas. This year alone, PMI will provide 8.7 million nets to families in Nigeria.

The United States also supports the Nigerian people by training medical

personnel and community health workers to care for people with malaria.

This past year alone, PMI supported training for nearly 7,000 health workers around the world in malaria case management. PMI also provides the test kits and medicines to help those patients who come to them. In just the past year in Nigeria, PMI procured 19 million anti-malarial treatments and more than 6 million rapid diagnostic tests kits.

The most exciting news about malaria is that it can be eradicated. To make this happen, we must recognize that we do not need to accept malaria as being a normal part of life. If we sleep inside a treated net every night, if we seek treatment from a qualified health worker within 24 hours of the onset of a fever, we can drive down the presence of the malaria parasite in our environment and ultimately eliminate it.

Despite our impressive gains, we still have much work to do. We must improve the protection of expecting mothers and their newborns from malaria.

During pregnancy, malaria can cause particularly serious, life-threatening risks for both the mother and her baby. Common problems include maternal anemia, miscarriage, prematurity, stillbirth, and low birthweight in newborns.

We must increase access to health services, especially for the poor. Community health workers must be able to provide reliable testing and treatment for malaria and other childhood illnesses. We have shown in a number of countries that such services can be scaled up quickly and affordably, and that they

make a difference.

Ending malaria is not just good social policy, it is good business. Leading economists have identified the fight against malaria as one of the “best buys” in global development, estimating that a 50 percent reduction in global malaria incidence could produce over 7,000 naira ($36) in economic benefits for every 200 naira ($1) invested.

Malaria eradication could deliver more than four hundred trillion naira ($2 trillion) in economic benefits and, more importantly, save an estimated 11 million lives.

Success during the next three to five years will be crucial to attain the vision of this year’s World Malaria Day theme, “End Malaria for Good.”

Ridding the world of this burden will have a long-term transformative impact across the globe, saving millions of lives and generating trillions in additional economic output.

I thank my colleagues and counterparts in Nigeria, who fight malaria tirelessly in communities every day.

If we all continue to pull together, we can rid the world of this deadly scourge.

•Entwistle is the United States ambassador to Nigeria

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MONDAY APRIL 25, 2016 T H I S D AY

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T H I S D AY • MONDAY APRIL 25, 2016

Nigeria’s top 50 stocks based on market fundamentals

22-Apr-16

21-Apr-16

% Change

Capitalisation

EPS

P/E

P/S

Div. Yld

Price/ Book Value

Table 1 Market Statistics Mkt Indicators

Open 21-Apr-16

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

24,909.88 8.57

24,850.11 8.55

-0.24 -0.24

102.00 7.94

102.02 7.94

0.02 0.02

01 Dangote Cement Plc

161.04

161.00

0.02%

2,744,203,312,501.20

10.64

15.13

5.58

4.97%

4.26

02 Nigerian Brew. Plc.

105.70

105.02

0.65%

838,105,963,861.60

5.37

19.69

3.03

3.41%

4.92

03 Nestle Nigeria Plc.

620.00

640.01

-3.13%

491,446,876,240.00

29.95

20.70

3.25

4.68%

12.93

04 Guaranty Trust Bank Plc.

15.92

16.05

-0.81%

468,544,373,246.08

3.38

4.71

2.04

11.12%

1.13

05 Zenith Bank Plc

12.15

12.13

0.16%

381,467,399,499.90

3.37

3.61

0.88

14.81%

0.64

275.12

278.57

-1.24%

358,338,601,057.36

4.45

61.85

2.88

1.25%

7.74

07 Lafarge Africa Plc.

74.00

74.00

0.00%

337,062,733,940.00

5.93

12.48

1.26

4.05%

1.91

08 Ecobank Transnational Incorporated

14.70

14.70

0.00%

269,738,402,860.50

1.39

10.56

0.52

4.22%

0.72

340.00

336.00

1.19%

188,125,506,420.00

23.48

14.48

1.67

4.68%

0.67

10 Guinness Nig Plc

98.00

99.84

-1.84%

147,577,042,424.00

0.78

125.92

2.96

0.00%

3.30

11 Stanbic IBTC Holdings Plc

14.30

14.30

0.00%

143,000,000,000.00

2.04

7.02

1.21

0.70%

1.27

12 United Bank for Africa Plc

3.37

3.50

-3.71%

122,262,003,705.14

1.64

2.05

0.39

17.80%

0.37

Table 4 Top 5 Losers

13 FBN Holdings Plc

3.32

3.36

-1.19%

119,172,372,069.44

2.16

1.54

0.30

30.12%

0.21

Stock

14 Access Bank Plc.

3.83

3.98

-3.77%

110,794,131,346.73

2.28

1.68

0.33

14.36%

0.30

29.25

29.25

0.00%

110,661,415,312.50

0.32

92.81

1.87

0.17%

13.83

16 7-Up Bottling Comp. Plc.

142.59

142.59

0.00%

91,341,779,860.17

11.12

12.82

1.17

1.54%

3.81

17 P Z Cussons Nigeria Plc.

20.35

20.35

0.00%

80,799,207,865.75

1.10

18.54

1.12

6.39%

1.92

18 Dangote Sugar Refinery Plc

5.77

5.50

4.91%

69,240,000,000.00

0.96

6.00

0.69

8.67%

1.19

19 International Breweries Plc.

20.00

20.00

0.00%

65,884,985,600.00

0.64

31.29

3.56

1.25%

5.47

20 Julius Berger Nig. Plc.

43.00

43.00

0.00%

56,760,000,000.00

1.85

23.26

0.42

3.49%

2.34

155.00

154.01

0.64%

55,892,265,610.00

13.51

11.47

0.87

4.65%

3.64

4.42

4.50

-1.78%

53,193,015,511.48

0.50

8.84

0.09

16.97%

0.34

20.20

20.20

0.00%

53,009,591,177.40

1.84

10.97

0.16

9.90%

0.52

147.00

147.00

0.00%

49,909,710,039.00

11.92

12.33

0.24

9.52%

3.07

25 Sterling Bank Plc.

1.50

1.53

-1.96%

43,185,627,189.00

0.36

4.20

0.39

6.00%

0.45

26 Transnational Corporation Of Nigeria Plc

1.03

1.02

0.98%

39,882,627,347.75

0.05

19.63

0.98

0.00%

0.46

19.00

18.43

3.09%

36,496,423,353.00

2.70

7.04

0.50

5.26%

0.49

1.21

1.22

-0.82%

35,044,728,687.32

0.48

2.52

0.24

13.22%

0.19

35.01

35.01

0.00%

35,010,000,000.00

3.28

10.68

3.08

0.29%

1.56

1.41

1.41

0.00%

32,656,148,444.88

0.92

1.54

0.17

21.28%

0.15

24.97

24.97

0.00%

29,861,035,905.36

0.81

30.94

0.97

1.20%

2.26

0.72

0.72

0.00%

27,773,615,578.32

0.06

11.93

0.61

0.00%

0.60

33 Cadbury Nigeria Plc.

14.77

14.77

0.00%

27,741,044,130.80

3.21

4.61

0.82

8.80%

2.68

34 Okomu Oil Palm Plc.

29.00

28.80

0.69%

27,663,390,000.00

2.76

10.51

2.84

0.34%

2.29

35 Cap Plc

38.50

38.50

0.00%

26,950,000,000.00

2.49

15.49

3.82

2.99%

17.73

36 Mansard Insurance Plc

2.25

2.16

4.17%

23,625,000,000.00

0.16

14.21

1.43

2.22%

1.36

37 Custodian And Allied Insurance Plc

3.80

3.80

0.00%

22,351,083,941.00

0.71

5.32

0.75

5.26%

0.86

38 National Salt Co. Nig. Plc

7.95

7.70

3.25%

21,063,035,105.10

0.79

10.00

1.30

6.92%

2.97

39 FCMB Group Plc.

1.03

0.99

4.04%

20,396,792,104.43

0.24

4.28

0.13

9.71%

0.13

40 Skye Bank Plc

0.96

0.96

0.00%

13,325,089,353.60

0.85

1.12

0.10

31.25%

0.09

41 Honeywell Flour Mill Plc

1.40

1.35

3.70%

11,102,276,721.20

0.14

9.91

0.23

11.43%

0.52

42 Continental Reinsurance Plc

1.02

1.03

-0.97%

10,580,199,198.24

0.21

4.94

0.54

0.00%

0.68

43 Cement Co. Of North.Nig. Plc

7.10

6.77

4.87%

8,922,412,138.60

0.96

7.43

0.68

1.41%

0.88

44 Unity Bank Plc

0.70

0.68

2.94%

8,182,536,559.40

0.54

1.29

0.13

0.00%

0.10

45 UACN Property Development Co. Limited

4.45

4.40

1.14%

7,648,437,477.75

1.81

2.46

0.68

15.73%

0.23

46 Wapic Insurance Plc

0.50

0.50

0.00%

6,691,369,126.00

0.10

5.16

0.94

6.00%

0.45

47 Nigerian Aviation Handling Company Plc

4.00

3.99

0.25%

6,496,875,000.00

0.33

12.08

0.76

5.00%

1.07

48 Resort Savings & Loans Plc

0.50

0.50

0.00%

5,664,866,202.00

4.68

0.11

0.02

0.00%

1.89

49 AIICO Insurance Plc.

0.78

0.75

4.00%

5,405,559,494.40

0.28

2.82

0.16

6.41%

0.56

50 Fidson Healthcare Plc

2.15

2.15

0.00%

3,225,000,000.00

0.50

4.33

0.39

2.33%

0.51

06 Forte Oil Plc.

09 Seplat Petroleum Dev. Co. Ltd.

15 Unilever Nigeria Plc.

21 Mobil Oil Nig Plc. 22 Oando Plc 23 Flour Mills Nig. Plc. 24 Total Nigeria Plc.

27 U A C N Plc. 28 Fidelity Bank Plc 29 Presco Plc 30 Diamond Bank Plc 31 Glaxo Smithkline Consumer Nig. Plc. 32 Wema Bank Plc.

TOTAL

7,943,475,863,206.40

TOTAL MARKET CAP

8,547,975,285,715.23

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

92.93%

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

Close 22-Apr-16

Change %

Table 3 Top 5 Gainers Stock

Open Close Change 21-Apr-16 22-Apr-16 %

Dangote Sugar Refinery Plc Cement Co. Of North.Nig. Plc Mansard Insurance Plc FCMB Group Plc. AIICO Insurance Plc.

5.50 6.77 2.16 0.99 0.75

5.77 7.10 2.25 1.03 0.78

4.91 4.87 4.17 4.04 4.00

Open Close Change 21-Apr-16 22-Apr-16 %

Access Bank Plc. United Bank for Africa Plc Nestle Nigeria Plc. Sterling Bank Plc. Guinness Nig Plc

3.98 3.50 640.01 1.53 99.84

3.83 3.37 620.00 1.50 98.00

-3.77 -3.71 -3.13 -1.96 -1.84

Market ASI sheds 0.24% Market pulse on the Nigerian Stock Exchange (NSE) today – Friday, April 22, 2016 was bearish as the market closed red due to resumed selling pressure. This was further highlighted by negative performances from all the NSE Sub sectors; Banking, Consumer Goods, Oil & Gas (Save Insurance). Trading activities increased in volume as 188.72 million shares worth N1.51 billion in 3,050 deals exchanged hands today. This is an increase from the 178.78 million shares worth N1.18 billion in 3,223 deals carried out on Tuesday. Topping in volume terms was Access Bank Plc, FCMB Group Plc and Zenith Bank Plc, while Nigerian Breweries Plc and Zenith Bank Plc ended trading as the most active stocks in value terms.

The All Share Index (NSEASI) closed positive with a 0.24% (+59.77) decrease to 24,850.11 from 24,909.88 the previous trading day. Market Capitalization appreciated in tandem to N8.54 trillion from N8.57 trillion of prior trading day. However, the Thisday BGL 50 Index outperformed the market by a marginal 0.02% increase to close at 102.02 from 102.00 the previous trading day, while its market capitalization stood at N7.943 trillion from N7.941 trillion of the previous trading day.

A total number of 24 stocks gained on the bourse today while 18 stocks declined, leaving 147 stocks unchanged. Dangote Sugar Refinery Plc emerged the toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 4.91% to close at N5.77 per share. It was followed by CCNN Plc with a gain of 4.87% to close at N7.10 per share. Others on the gainers list include; Mansard Insurance Plc, FCMB Group Plc and AIICO Insurance Plc, while on the decliners’ list; Access Bank Plc led with a loss of 3.77% to close at N3.83 per share. It was followed by United Bank for Africa Plc with a loss of 3.71% to close at N3.37 per share. Others on the losers list include; Nestle Nigeria Plc, Sterling Bank Plc and Guinness Nig 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

52

MONDAY APRIL 25, 2016 • T H I S D AY

NEWSEXTRA

Army: AI Report on Clash with Shiites Hasty, Subjective Says satellite videos of mass grave are fake Senator Iroegbu in Abuja The Nigerian Army has berated Amnesty International (AI) over its recent report on the clash with

members of Islamic Movement of Nigeria (IMN) in December 2015 in Zaria, Kaduna State, which it described as too hasty, partial, judgmental and subjective.

NEMA: 1.9m IDPs Live in Formal and Satellite Camps, Host Communities A total of 1,934,765 internally displaced persons (IDPs) are currently living in formal camps, host communities and satellite camps in liberated communities as a result of insurgency in North-eastern states of Borno, Yobe, Taraba, Gombe, Bauchi and Adamawa.

This was disclosed by the Yola camp Coordinator, Saad Bello, who, on behalf of the Director General of NEMA, Muhammad Sani Sidi, took the United States Ambassador to the United Nations, Samanthan Power, round the facilities at Malkohi IDP Camp in Yola, Adamawa State, at the weekend.

He said there were 32 formal camps in Borno, Yobe and Adamawa States with a total of 189,783 IDPs. Borno State has 19 camps with 150,858 IDPs; Yobe State has nine camps with 31,988 IDPs; and Adamawa State four camps with 6,937 IDPs. The camp coordinator added that there were 14 satellite camps in liberated communities, mainly in Borno State with 216,184 IDPs. The camps with the highest population are Ngala with 70,505; Dikwa 53,636; Bama 27,000 and Damboa/ Sabon Gari 25,311.

Bello said host communities in Borno, Yobe and Adamawa States have a total of 1,391,613 IDPs. Borno State has the highest with 1,158,362, Adamawa State 125,689 and Yobe

State 107,562.

He said: “Federal government, through the coordinating agency, NEMA, and relevant line Ministries, Departments and Agencies (MDA’s) have been trying to meet the needs of the IDPs in the provision of food, nutrition, non-food items (NFIs), temporary shelter, medicament, psycho-social therapy, security and protection.

He said as the government continued in the efforts to meet the needs of the IDPs, more supports were critically required for the IDPs across the three identified kinds of camps before they return back to their communities.

The critical areas where further support is needed are food, non-food items(includingbasichouseholdneeds), shelter, education, nutrition, protection, health and sexual reproductive health and psycho-social help.

The USAmbassador to UN, Power, who led a high level delegation from US to the Malkohi IDPs camp and host communities told them that they were there to determine what more could be done to defeat Boko Haram so that they can return to their communities.

“I know how difficult these last years have been for you, and on behalf of President Barack Obama, I express my sympathy and my condolences for all you have lost and our resolve to try to make things better together,” she said.

IBB: Nigeria will Surmount Her Present Political and Economic Challenges Laleye Dipo in Minna

Former Military President, General Ibrahim Badamasi Banagida (rtd), has expressed the hope that Nigeria will overcome its present political and economic challenges and become a great nation again.

Babangida made the remarks in Minna yesterday when he spoke to a group of journalists.

The former military president also used the occasion of the media briefing to dispel the rumour making the rounds at the weekend that he was dead.

“I still believe in the greatness of Nigeria. Nigeria will surmount her present challenges,” he declared, before saying the youths of the country had a beautiful country ahead of them.

He added that the future of the country is bright and the dreams of Nigerian people for actualising her independent were “worth the while.”

“I still believe very strongly in this country which is further demonstrated by the people of this great nation because they are very

industrious people, hardworking, that give me the hope for Nigeria” he stated.

About the rumour peddling around that he was dead, the elder statesman said: “For me, it doesn’t shock me neither did it border me because I know I must go and meet God my Creator, there is nothing really to worry about, my religion has told me that.

“Well as a Muslim, I strongly believe everybody will die; everybody will die and everybody has to die, it could be now or in hundred years time or two days to come but it doesn’t matter everybody must die,” he submitted.

The former leader emphasised that nobody is above sickness or death because nobody is above what God has destined for him or her as everybody will fall ill or will die or either of their relations must have died.

Babangida also used the occasion to congratulate the Queen of England who marked her 90th birthday last week, describing her “as gracious person who is much concerned about her people.”

This was stated at the weekend by the Director of Army Public Relations (DAPR), Col. Sani Usman, in response to the THISDAY inquiries about the latest allegations by the AI about the army conduct during the deadly confrontation with IMN popularly acknowledged and known as Shiites Islamic sect.

Usman said the international non-governmental organisation (NGO) was in a hurry to publish what it noted was a premeditated report without waiting for the constituted Judicial Commission of Inquiry set up by the Kaduna State Government and National Human Rights Commission (NHRC) to submit its report.

“Please note that if there is any report from Amnesty International as you stated, we believe it is hasty, partial and lacks objectivity. The NGO should understand that Nigeria is a sovereign nation and it should be respected. Already, a judicial commission of inquiry is in place in addition to investigation by the NHRC,” he said.

The AI had last Friday accused the Nigerian military of mass

slaughter of hundreds of men, women and children by soldiers in Zaria, saying the attempted cover-up of the alleged crime demonstrates an utter contempt for human life and accountability.

The human rights watchdog said it has published evidence gathered on the ground revealing how the Nigerian military burned people alive, razed buildings and dumped victims’ bodies in mass graves.

The body claimed that the report titled: ‘Unearthing the truth: Unlawful killings and mass cover-up in Zaria’, gave a shocking eyewitness testimony of large-scale unlawful killings by the Nigerian military and exposes a crude attempt by the authorities to destroy and conceal evidence.

The rights group also stated that more than 350 people are believed to have been unlawfully killed by the military between December 12 and 14, following a confrontation between members of the IMN and soldiers in Zaria.

According to the Al’s Research and Advocacy Director for Africa, Mr. Netsanet Belay, “The true horror of what happened over those two

days in Zaria is only now coming to light. Bodies were left littered in the streets and piled outside the mortuary.

Some of the injured were burnt alive.

“Our research, based on witness testimonies and analysis of satellite images, has located one possible mass grave. It is time now for the military to come clean and admit where it secretly buried hundreds of bodies.”

However, these claims were dismissed by the army spokesman, who said the rights group is acting out a script together with the IMN. He noted that: “The NGO’s hasty report is against the principles of the itself as it is pre-emptive and judgmental.”

Usman further urged the AI to allow the judicial commission of inquiry and all other relevant agencies complete and submit their reports before jumping to conclusion.

He accused the global human rights watchdog of dishing out a biased report in favour of the Shiites to influence the ongoing inquiry towards a predetermined

conclusion.

He said: “Let the NGO search it’s conscience please. It is apparent also that is uncomfortable with the daily reports from Kaduna. It is the basic reason why it has rushed to town with another jaundiced report to divert attention from the proceedings of the committee.

“Simply because witness accounts seems not to tally with their predetermined conclusion, they hastily churned out highly biased and unsubstantiated report to save face and arrived at their prejudiced conclusion. It’s a highly biased report and one perspective; the IMN and anti-government report. Nothing was mentioned on the rebellious attitude and the violations of human rights by the IMN. Neither did they bother to ask why the IMN attempted to assassinate the Chief of Army Staff (COAS.” Also speaking to THISDAY, an army general dismissed the AI claims of satellite imagery of mass grave, saying it was a lie concocted to deceive members of the public.

LEARNING BUSINESS TIPS

R-L: Lagos State Governor, Mr. Akinwunmi Ambode; former Vice President, Alhaji Atiku Abubakar; and former Lagos State Commissioner for Tourism, Senator Tokunbo Afikuyomi, during the third annual London School of Economics (LSE) Africa Summit in the United Kingdom... weekend

Ondo LG Polls: PDP Clears All 18 Council Seats James Sowole in Akure The Peoples Democratic Party (PDP) candidates were yesterday declared winners of last Saturday’s local government council elections conducted in the 18 council areas of Ondo State.

Similarly, the PDP candidates won 202 out of 203 councillorship positions in the state.

The only councillorship position lost by the ruling party was Ward 9, Oba Ile in Akure North Local Government Area where the PDP candidate lost to Allied Congress Party of Nigeria (ACPN) candidate.

The Chairman of the Ondo State Independent Electoral Commission (ODIEC), Professor Olugbenga Ige, who announced

the results of the election officially at the commission’s headquarters in Akure, said 14 political parties participated in the election.

Reading out the results, the ODIEC chairman said all the results had earlier been declared at various wards and council collation centres by respective returning officers.

The elected chairmen, according to Ige are: Oluwole Arowolo (Akoko North East, Aladetimehin Joseph Olusola (Akoko North West), Agunloye Samuel Babasola (Akoko South East), Abiodun Ogunbi (Akoko Douth West), Babalola Bamidele (Akure North) and Alarapon Adebayo (Akure South) and Sobijoh Timiminiwei.

Other elected chairmen are Akingbaso Festus (Idanre), Sola Adu (Ifedore), Omomowo Agun-

Ola (Ilaje). Gbemibade Adetoro Folagbade (Ile-Oluji/Okeigbo), Julius Elumare (Irele) Raphael Ademulegun (Odigbo) Lai Ogunsire (Okitipupa).

Also elected were Akinkuoie Gafar (Ondo East) Ogunya Victor Iranola (Ondo West) Awodeyi Osuma Ojo (Ose) and Olawunmi Oluwole Josiah (Owo).

The ODIEC commended the people of the state for their peaceful conduct during the election, stating that there was no crisis of any sort during the poll.

He said winners of the election shall be given their certificate of return today (Monday) at the ODIEC headquarters.

Meanwhile, the All

Progressives Congress (APC) yesterday stated that the results of the election clearly vindicated the party’s position on the election.

The APC in a statement signed by its Director of Publicity, Steve Otaloro, alleged that the results had been written before the poll and handed over to the ODIEC chairman for mere announcement.

The APC alleged that the PDP fielded its member under some mushroom parties that do not exist in the state to create the impression of a contest.

It stated that it was known to everyone that people of the state did not come out to vote, wondering where the ODIEC got the votes it announced.

The party therefore stated that the truth shall be known during the November 2016 election.

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Bode George, Okupe Insist PDP Chairmanship Slot Must Go to S’west Segun James Following the ongoing disagreement in the South-west over the leadership of the Peoples Democratic Party (PDP), a former Deputy National Chairman of the party, Chief Olabode George, has said if the leadership of the party jettisons the agreed leadership sharing formula as agreed by the founding fathers of the party, then the South-west must be guaranteed the presidential ticket of the party in the spirit of equity and fair play.

George in an interview with select journalists at the weekend,

made it clear that even though the party, in line with the Deputy Senate President, Senator Ike Ekweremadu, had agreed that the presidential ticket of the party should move to the North in 2019 while the chairmanship moves South, but if the North insists on retaining the chairmanship at next month’s PDP convention scheduled for Port Harcourt, then it would only be fair that the presidential ticket should move to the South as enshrined in the party’s constitution.

George lamented that anything to the contrary would not be acceptable to the South-west which

Troops Ambush Fleeing Terrorists at Sambisa-Alagarno Axis

Kill 5 terrorists Senator Iroegbu inAbuja The Nigerian military has successfully ambushed the Boko Haram terrorists escaping from the ground and aerial bombardments of Sambisa Forest to a new safe haven in Borno State.

The Director of Army Public Relations (DAPR), Col. Sani Usman, in a statement disclosed that the troops of 81 Battalion and some elements of 251 Task Force Battalion, 25 Brigade, at early hours of yesterday, “ambushed suspected Boko Haram terrorists escaping from Sambisa forest to Fulawani village.”

Usman said that the ambushed terrorists were trying to link up with other terrorists or members of their families to relocate to other places.

He recalled that the troops had earlier intercepted a group of women and children on Saturday, who claimed to have escaped from the terrorists enclave in Sambisa forest.

However, he said during screening and interrogation, it was confirmed that they were the terrorists’ advance party relocating to a new safe haven following

intense tactical operations by troops.

According to Army spokesman, the “troops sprang a surprise ambush on the group of escaping terrorists from Sambisa forest crossing towards Alagarno mounted on motorcycles and bicycles, killing five of them and recovering a number items.

“These include five motorcycles, nine bicycles, 80 new pairs of bathroom slippers, assorted laundry items, polythene bags and mats.”

From all indication, Usman said the terrorists intended to link up with their wives and children earlier mentioned, who were obviously dispatched to wait for them close to Fulawani for onward movement to other locations.

“It is also assessed that the recovered items were for sale in other locations where remnants of the terrorists were hiding but in dire need of logistics,” he added.

He said that further investigation also revealed that the terrorists were fleeing Sambisa forest to other areas for safety as they could no longer withstand the continued bombardment by both Nigerian Air Force and the ground troops.

Presidential Aide: Global ICT Firm to Empower 1,000 Nigerian Youths As part of government’s effort at addressing the issue of unemployment, the Office of the Special Assistant to the President on Youth and Student Affairs (SAPYSA) has developed a partnership with a leading global information and communication technology (ICT) solution provider, Huawei Technologies to initiate a social development programme that would empower 1,000 youths in the sector.

The initiative, which would be overseen by the Special Assistant to the President on Youth and Student Affairs, Nasir Adhama would commence at a date to be announced soon.

In a statement by the Media Assistant to Presidential Aide on Youth and Student Affairs, Gidado Yushau Shuaib, the presidential aide said his office would select and screen the beneficiary participants from all

geopolitical zones of the country for the training.

Adhama said: “Out of the 1,000 youth that would be trained by Huawei Africa, 200 would be sent to China for more training on ICT.” He stressed that: “There are many programmes and activities that would get our youths engaged and involved, especially our brothers and sisters in Niger Delta and North East who will also benefit from the Huawei partnership programme.

“We strongly seek for the cooperation and supports of all Nigerian youths from the nook and cranny of the federation to move our nation forward,” he concluded.

During the visit of President Muhammadu Buhari to China, the Special Assistant also met with the leaders of the telecommunication company on the proposed ICT programme.

is already feeling alienated with the way of things in the party.

This is coming just as another leader from the South-west, Dr. Doyin Okupe, has warned that “many of us from the South-west may have to reconsider our membership of this great party” if the geo-political zone is disregard in the leadership equation within the party.

Okupe, while supporting the leader’s position, cried that the people who went to the party headquarters to say that the South-west is not interested in the party’s leadership are “political charlatans” whose position must be ignored.

“There is an embarrassing falsehood being propagated by political charlatans from the South-west and some influential collaborators in the top echelon of the PDP. “The seed of this misrepresentation was sewed by a group of political clowns and

court jesters under the leadership of Senator Buruji Kashamu, a political impostor who claims he is the leader of the party and the Yoruba in the South-west.”

While reiterating the position of Chief George as the leader of the party in the geo-political zone, Okupe insisted that at a “meeting the true sons and daughters of Yoruba land in an unprecedented unity condemned the erstwhile claim by the Yoruba traitors who went and lied to the PDP chairman, His Excellency Senator Ali Modu Sheriff, that the Yoruba do not want the chairmanship of the PDP. I want to state categorically here, without any fear of equivocation, that we, the Yoruba from the South-west, desire and demand the post of the national chairman at the next convention of the party.”

Chronicling the history of the leadership of the party from inception, Okupe lamented that only the Yorubas have never led the party, hence must be given

their due this time around.

“The following are the past chairmen: Chief Solomon Lar, Chief Barnabas Gemade, Chief Audu Ogbeh, Prince Vincent Ogbolafor, Dr. Nwodo, Alhaji Baraje, Dr. Haliru Bello (Acting), Alhadji Bamangar Tukur, Alhaji Adamu Muazu, Prince Secondus (Acting) and Senator Ali Sheriff.

“From the above within the last 18years there have been 11 chairmen from five geopolitical zones. Only the Yoruba race from the South-west has been precluded from this exalted office.

“In the interest of fairness, equity and Justice, it is most compelling that the Yoruba of the South-west zone must be allowed to contest for this post at this coming National convention. Any attempt to do anything to the contrary, no matter the reason advanced cannot be acceptable.

“Failure for a Yoruba man to emerge as the national chairman can only mean two things: That

there is a pervasive and concealed hatred for the South-west in the PDP or that the PDP has very little or no regard for Yoruba interest as was evinced by the obvious cheating of the South-west from the position of the Speaker (of the House of Representatives) in 2011, which was never rectified nor compensated for the whole of four years.

“The sad implication of the above is that, regrettably, many of us from the South-west may have to reconsider our membership of this great party we have helped to nurture and support through thick and thin, a party we have loved almost more than our very existence, and the party we have served with all our natural endowment, in victory and defeat.

“If there exist any conscience, anywhere in this party, let that conscience speak now and stop the new and alien conscienceless power currently holding sway within the party hierarchy.”

HONOUR FOR LAI MOHAMMED

L-R: Former Minister of State for Defence, Mr. Ademola Seriki; Minister of Informations and Culture, Alhaji Lai Mohammed; Ogun State Governor, Senator Ibikunle Amosun; and Hon. Olayiwola Olawole, representing the Lagos State Speaker, at the installation of the minister and his wife as grand patron and matron of the Sa’adatul Abadiyya Organisation of Nigeria, in Abeokuta...yesterday

LASG Asks IG to Investigate Killing of Adenuga’s In-Law Finally issues white paper on Lekki unrest Gboyega Akinsanmi The Lagos State Government yesterday asked the Inspector General of Police (IG), Mr. Solomon Arase, to investigate the murder of Managing Director of Lekki Worldwide Investment Limited, Mr. Tajudeen Disu.

Disu, an in-law of Chairman of Globacom Limited (GLO), Mr. Mike Adenuga, was gruesomely murdered on October 12 while resolving land dispute between indigenes of Okunraye Community and some private companies planning to embark on project development in Lekki Free Trade Zone (LFTZ).

But in a statement yesterday, the state government issued the white paper on the report of the Judicial Commission of Inquiry, which the state governor, Mr. Akinwunmi Ambode, constituted to look into Disu’s gruesome murder and civil disturbances raging in the LFTZ.

The statement said the state government accepted most recommendations of the tribunal, which included a directive asking the inspector-general through the state Commissioner of Police, Mr. Fatai Owoseni, to take over investigation into Disu’s gruesome killing The statement, which was signed by the Commissioner for Information and Strategy, Mr. Steve Ayorinde, said the directive became imperative owing to the need to resolve the mystery surrounding Disu’s killing.

It noted that leaders of the Okunraye community where Disu was murdered on October 12, 2015 had claimed that the late Disu was killed by a stray bullet from mobile policemen attached to the area, while the police in turn issued a statement denying the allegation.

It added that the state government in the white paper

directed the Ministry of Commerce, Industry and Cooperatives to ensure that all outstanding compensation issues are resolved as soon as possible.

It explained that the ministry was equally directed to ensure that the resettlement committee “is reconstituted in line with the provisions of the Memorandum of Understanding to enable it perform satisfactorily.”

It said the state government had directed that a LFTZ Peace and Security Committee comprising of the Police and representatives of investors of the affected villages be constituted to receive complaints from any party in the zone and will also have further responsibility of taking action to resolve issues referred to, as spelt out in the Memorandum of Understanding (MoU).

The statement also said the state government directed the Lands Bureau to give priority

“to preparation of Certificate of Occupancy (Cof O) of excised land.

The state government accepted the recommendation of the tribunal that under no circumstance should payments, irrespective of how insignificant it is, be paid in cash.”

The statement added that all payments should be by cheque, duly receipted by the payee in a format that carries the said payee’s name, picture and signature, noting that the state government accepted a recommendation that there should be an effective mode of communication and dissemination of the information among all inhabitants of LFTZ. Consequently, the statement noted that the state government had directed the Ministry of Local Government and Community Affairs through the Special Adviser for Communities and Communication to create a platform for regular dissemination of information.

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ASUU Blasts FG over Fuel Scarcity, Laments Unpaid Salaries Emmanuel Addeh inYenagoa The Academic Staff Union of Universities (ASUU), Port Harcourt zone, Rivers State, yesterday took on the federal government over its seeming inability to halt the suffering inflicted on Nigerians by the prolonged scarcity of petroleum products and incessant power shortages.

According to the ASUU leadership in the zone, despite the urgency of the problem, the federal government does not seem to have a roadmap to provide solution to the problems in both sectors.

The union which also decried the failure of the Bayelsa State Government to pay salaries of the Niger Delta University (NDU) workers since this year, demanded the immediate declaration of state of emergency in universities in the state.

According to the body, aside the inability of the state Governor, Mr. Seriake Dickson, to pay salaries, another area of concern is the decaying infrastructure in schools in the state, especially the NDU. ASUU zonal Coordinator,

Prof. Beke Sese, who spoke on several issues in Yenagoa, the state capital, noted that ‘prevarication’ and ‘unfulfilled promises’ have characterised the government’s handling of several critical sectors.

The academic union said it was regrettable that Nigerians have again been subjected to an excruciating bout of suffering occasioned by the fuel scarcity, poor electricity supply and increasing rise in prices goods. ‘’Today, we have a government that rides on the mantra of change, but offers absolutely no direction for deep fundamental change. If the situation continues, and the need arises for mass action, ASUU is willing and able to join forces with like-minded organisations to take action to compel our governments to do the right thing.

“Despite the urgency of the situation, the federal government has yet o articulate clear policies providing a pathway to sanity in the petroleum industry. Prevarication and unfulfilled promises have continued to be the order of the day. ‘’What Nigerians see at the moment appear to be ad hoc, stopgap, short term measures which do

not guarantee a total resolution of the crisis in the industry. It must be clear to our government that our country cannot afford this current level of importation. It will exhaust our foreign reserves in no time,” the union argued.

On the alleged neglect of education and unpaid salaries in Bayelsa State, ASUU contended that “no responsible government would treat the issue of non-payment of salaries and crumbling learning structures at the state-owned university with levity and nonchalance.”

Flanked by the NDU ASUU Chairman, Dr. Stanley Ogoun, his University of Port Harcourt counterpart, Dr. Austin Sadoh and Dr. Puyate Suobere of the Rivers State University of Science and Technology, Prof Sese described Dickson’s attitude to education as condemnable.

According to the union,

since this year, the government has not paid the salaries of lecturers and other academic staff, noting that workers in the university are now unable to meet accommodation, feeding, medical and mobility needs.

The academic staff union decried the poor funding of state-owned universities in the zone, vowing not to let the hardship inflicted by the government on university workers continue unchallenged. ‘’ The Bayelsa State government must make genuine effort to come up with an infrastructural development plan and fund the NDU with a view to making the university rank among the best in the country. ‘’We hereby call on governments at all levels to declare a state of emergency in the education sector, especially the Bayelsa State government

that had earlier made such pronouncements to match the declaration with appropriate action,” he said.

The union leaders noted that the needs-assessment carried out at the NDU revealed “lamentable deficiencies in infrastructure, including classrooms, laboratories, libraries and online resources, office buildings, students hostels and staff quarters.

“The present level of funding in the Niger Delta University is simply appalling. The staff/student ratio in several academic departments is far below levels recommended by the NUC. Research grants are almost non-existent. It is beyond doubt that the university is one of the least funded in the world.”

Sese, who coordinated the media chat, also noted that the

union was vehemently opposed to the withdrawal of funding for university staff schools by both the federal and state governments.

ASUU affirmed that the withdrawal of financial support would lead to industrial crisis in the various universities, noting that the body would resist the decision by every lawful means.

In his remark, the NDU ASUU Chairperson, Ogoun, argued that if the state government house was still running, there’s no need why the university workers should be deprived of their source of livelihood. ‘’This government has not done a single project in NDU. They said they constructed a link road and it is for our sake.

All ongoing projects are being done by TETFUND. If they say there’s no money, why is the government house still running?”

He queried.

Elumelu, Kirubi Honoured with Lifetime Achievement Awards in Abidjan The Chairman of the United Bank for Africa (UBA) Plc, Mr. Tony Elumelu, was at the weekend honoured with the Lifetime Achievement award at the fifth edition of the annual Economic Forum of the Ivorian National Council of Employers held in Abidjan, the Ivorian capital.

Also honoured with the award was Chris Kirubi.

During the formal presentation to honour Elumelu and Kirubi on the leadership and key role they play as African business champions, the Prime Minister of Cote d’Ivoire congratulated both African business leaders and further stressed that his country had a lot of potential to support the development of entrepreneurship and growth of the private sector.

He enjoined young Ivorian entrepreneurs to come forward with their ideas and share them with business champions like Elumelu and Kirubi who have the money to help.

“Elumelu, You are the Pride of Africa,” Prime Minister Duncan said.

As he addressed the guests present at the event, Elumelu advocated the collaboration of the private and public sectors to create value in the global competitive business landscape.

He stressed that Africa must encourage champions for economic development. “Development is not an option’ he stated.

“No one can develop the African continent but us. We must always remember that no one can rescue us. When the private sector operators divorce themselves from the development agenda of the countries in which they operate, everyone suffers.

“The SMEs are the backbone of any economy anywhere in the world and when governments ignore the private sector, the consequences are stark,” continued

Elumelu.

On his part, Kirubi motivated the young entrepreneurs present saying: “Africa is a come back kid. The future of Africa is in the hands of the young people.’

Of Business influencers who can move the continent towards development he said “we have to open the markets in each others countries. We cannot be swimming in small swimming pools and call ourselves champions.”

Elumelu tasked entrepreneurs to seek opportunities to accelerate their business success(including through The Tony Elumelu Foundation Entrepreneurship Programme, TEEP).

“We are champions of African development because we are Africapitalists. Through Africapitalism, I seek to evangelise what works for successful business investments and inspire other entrepreneurs like yourselves.

TEEP, Elumelu’s 10-year, $100 million commitment, to identify and empower 10,000 African entrepreneurs, creates one million jobs and add $10 billion in revenues to Africa’s economy.”

Since its initiation in 2012 by the Ivorian National Council of Employers, the annual economic forum, CGECI Academy, has provided a platform to raise awareness among African entrepreneurs about existing sources of capital and investors available to help grow and develop their businesses.

The forum seeks to change the paradigm of access to finance in Côte d’Ivoire, creating a platform for sharing experiences and expertise.

Furthermore, it aims to present the Ivorian private sector to regional and international partners and highlight the achievements and the opportunities within it.

Other activities during the event include the announcement of the yearly business plan competition and a segment dedicated to sharing the experiences and testimonials of entrepreneurs.

WELCOME TO APC FOLD

Senator Smart Adeyemi; Deputy Governorship candidate to the late Alhaji Abubakar Audu, Hon. James Faleke; and a cross section of All Progressives Congress (APC), leaders cheering as the senator formally defected from the Peoples Democratic Party the APC in Iyara ward, Ijumu Local Government Area of Kogi State...weekend

Jonathan Honoured by Two Californian Cities Gives keynote speech at US university, receives award Former President, Goodluck Jonathan, was at the weekend honoured by the cities of Antioch and Lathrop in the United States for promoting peace and democracy in Africa.

At the award ceremony, the Mayor of the city of Antioch, Mayor Wade Harper, expressed his admiration for Jonathan and declared that the city of Antioch, California, was proud of his legacies, especially his act of overseeing free, fair and conclusive elections and leaving the scene when the ovation was loudest.

He recommended Jonathan’s behaviour to other leaders.

Jonathan, who was represented

by Mr. Reno Omokri, gave a goodwill message to the two cities that had gathered to honor him as well as to the Nigerian community in the Bay Area of

California.

Jonathan said he was “proud of Nigerians in the diaspora and more so of Nigerians in the US and even more so of the Nigerian diaspora in California.”

Continuing, the former President said Nigerians in the diaspora were an asset to Nigeria who remitted over $20 billion home annually, “much more than the World Bank, IMF and foreign direct investment.”

Jonathan ended by saying he was proud of diaspora Nigerians and tried to show his appreciation for their support of Nigeria by ensuring that during his time in office at least three direct flights were initiated between America and Nigeria to ease travel challenges and reduce costs for travellers to Nigeria.

Also, former President Jonathan gave the keynote speech at the Cal State University’s Center for African

Peace and Conflict Resolution’s 25th annual Africa/Diaspora conference, in Sacramento, California, on April 23, 2016.

Also represented by Mr. Reno Omokri, Jonathan received an award by the center in recognition of his role in promoting democracy and peace in Nigeria and Africa.

Speaking at the event, the representative of the former Nigerian leader spoke on the role Jonathan played in ensuring that Nigerian remained at peace in the aftermath of the 2015 elections thus defeating doomsday prophets who had speculated that Nigeria may disintegrate based on the outcome of the polls.

Jonathan said: “Democracy is the panacea to most conflicts in Africa, and that is why the Goodluck Jonathan Foundation is committed to strengthening democracy throughout

Africa by building capacity within electoral institutions and engendering willingness to accept the results of the people freely given via a transparent election process.”

Continuing, the former President said “Until democracy is strong internally, you cannot be effective against conflict and terrorism internally and externally.”

The provost of the university, Professor Mike Lee, praised the outstanding character displayed

by Jonathan and called for others leaders to emulate his conscience driven leadership.

The Director of the centre, Professor Ernest Uwazie, also commended the former President and declared that his conduct during the elections made him one of the few statesmen with the moral authority to speak on democratic issues in Africa.

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CSO Coalition Urges 13 VCs to Resign over Illegal Appointment NMA protests appointment of new VC for Unijos Seriki Adinoyi inJos A coalition of some civil society organisations has advised the 13 vice chancellors of federal universities in the country who were appointed by the federal government last February to take the path of honour by resigning their offices.

The group explained that this measure had become imperative following President Muhammadu Buhari’s apologies to the country over the ill-advised dissolution of the governing boards of the affected universities, which preceded the sack of the former vice chancellors and the appointment of new ones.

In a statement at the weekend in Abuja and signed on behalf of the coalition by the National Convener of the Concerned Citizens for Educational Development (CCED), Comrade Solomon Adodo and the Executive Director, Friends in the Gap Advocacy Initiative (FGAI), George Oji, the group commended the principled position of Professor Auwal Yadudu who bluntly refused to accept the offer of appointment as Vice Chancellor of the University of Birnin Kebbi for not following due process.

The group also highlighted the action of Professor Andrew Haruna, Vice Chancellor of the Federal University Gashua, Yobe State, (one of the 13 vice chancellors), who in apparent recognition of his illegal appointment has now applied to the University of Jos as one of the candidates for the vacant office of the vice chancellor of that university.

“We use his medium to call

on all the 13 vice chancellors who were recently appointed without undergoing the spelt out procedures to honourably tender their resignation letter as Professor Andrew Haruna, as he subjects himself to seek the pristine office of the Vice Chancellor of the University of Jos,” the coalition said.

It said: “The fact that Professor Haruna could subject himself to the proper screening and interview process of the University of Jos Governing Council negates the premise on which he and the other 12 appointed vice vhancellors were foisted on their respective universities in the first instance.”

The group restated the position of the law, which provides that the appointment of vice chancellors of federal universities is the sole affairs of each university without undue interference from the Visitor (President) as seen in the case of University of Jos Governing Council under the chairmanship of Chief Don Etiebet, stressing that, “the competitiveness of the process gives room for the best candidate to emerge successfully without any iota of bias or political interference.”

Recall that in his apology to the country recently over the wrongful dissolution of the governing boards of the 13 universities, President Buhari said: “We gave a blanket order which we had to rescind when we said all boards are suspended or dissolved.

“We had to go back and lick our vomit in terms of the university boards because we found out that according to their laws, they cannot choose vice chancellors unless the boards sit down, interview prospective candidates who want

FG Urged to Exclude Igboland in Proposed Grazing Reserves Emmanuel Ugwu in Umuahia As opposition mounts over the proposed plan to establish grazing reserves in every state of the federation, a socio-political and cultural organisation, Igbo Improvement Union (IIU/Oganiru Ndigbo), at the weekend, urged the federal government to exclude the entire Igbo land from the project.

The group made the call at the end of its two-day conference held in Umuahia during which it deliberated on national issues and how they affect the lives of Ndigbo and their socio-economic affairs.

In a communiqué issued at the end of the conference, the IIU explained why it would not want Igboland to be included in the national grazing reserves, citing erosion menace and the devastating effect of indiscriminate grazing on farmlands in Igbo land by Fulani cattle.

“Our land can no longer sustain the disastrous effects of Fulani herdsmen and their cattle on our ecology,” the IIU said.

The group pointed out that the entire Igbo land was already grappling with ecological problem of erosion, which according to it has already claimed over 20 per cent of the total landmass of Igbo land as a result of over grazing and indiscriminate excavation activities by contractors.

The IIU warned against any move to compound already bad situation as further assault on the land would result to total devastation of the region with its attendant consequences on food production and standard of living.

It therefore called on the governments of Igbo- speaking states to, as a matter of urgency, regulate the activities of the land excavators and bring offenders to book.

On the clash between herdsmen and the farmers of Ugwuleshi community in Awgu Local Government Area of Enugu State, IIU called on the federal government to set up a probe panel to identify the soldiers who invaded the community and rounded up 76 farmers who were brought to Umuahia and dumped in prison.

It further demanded prosecution of the herdsmen and their military collaborators “for their harassment, intimidation and invasion of hapless villagers,” adding that herdsmen have been allowed for too long to act with impunity.

The Igbo group vehemently condemned the manner the herdsmen had been allowed to do whatever they liked without security agencies calling them to order, noting that “the silence of the authorities is most provocative”.

to be VCs. “So, there is nothing wrong in saying sorry and going back on your decision. So, we said sorry and allow all the universities to continue with their boards.”

Unfortunately, the Minister of Education, Mallam Adamu Adamu is yet to give effect to the presidential directives to recall the sacked 13 vice chancellors.

In a related development, the Nigerian Medical Association (NMA) has for the second time protested the appointment of new Vice-Chancellor for the University of Jos with criteria that allegedly tactically edged out some of its members in the university from contesting for the position of the VC.

Professor Sebastian Maimako was last Friday appointed as the ninth Vice Chancellor of the university to take over from Professor Hayward Mafuyai whose tenure expires on June 23, this year.

This was after an interview by the institution’s governing council led by Etiebet in which no fewer than 18 candidates participated.

But the NMA said it had secured a court order the previous day restraining the governing council from going ahead with the exercise but the council went ahead to announce a new vice-chancellor in contempt of the court order.

It was gathered that members of the institution’s chapter of the NMA who have been at loggerhead

with the university council will today (Monday) initiate a contempt of court proceedings against the university.

There are fears that the motion, if successful, may stall the inauguration of the new VC in June.

Thecurrentcontroversysurrounding the appointment of the VC started in 2011 when the university advertised for the position stating that to qualify for the position, a candidate must be a professor of at least five years standing, and must possess a doctoral degree (PhD).

The advertisement had triggered apprehension among members of the NMA, who perceived it as a ploy to disenfranchise them from the race seeing that for some of

them that pass through residency training are never awarded PhD but a fellowship at the end of their training. This development made the association to approach the court to contest the criteria.

The doctors had argued that the number of years spent going through residency training were enough to place them on the same level as holders of PhD degree, and as such should not be excluded from the race.

The case which was first instituted at the Federal High Court in Jos when Mafuyai was appointed in 2011 was later moved to Bauchi State after complaints by members of the NMA over lack of confidence in the presiding judge.

BUILDING CAPACITY

L-R: Philipe Amato of the European Union (EU); a representative of the Minister of Trade and Investment and Director of Trade in the ministry, Yunusa Labaran; and the Acting Director General, Standards Organisation of Nigeria (SON), Dr. Paul Angya, during a one-day national capacity building workshop by SON and European Union in Abuja...weekend

Niger Delta Communities Deny Threatening Saipem, Others Omon-Julius Onabu in Asaba Ijaw communities across Delta and Bayelsa States have denied ever issuing any notice to Sapiem and other oil companies operating in their communities to quit or face dire consequences.

Oil-rich coastal communities of Ojobo, Ogbotobo and Tarakiri Cluster Development Board (TCDB) comprising Egbemo Angalabiri Ojobo, Ogbotobo, Agbayama, Agbidiama and other satellite communities spread across Burutu and Ekeremo Local Government Areas of Delta and Bayelsa States, respectively, said at no time did they issue Saipem and others such notice.

The communities acknowledged the fact that the different oil firms were contributing positively to their local economies especially through various projects they were presently executing under the Southern Swamp Associated Gas Solution Project (SSAGS).

They therefore, warned: “Those fanning the embers of war”

between the different oil producing communities and oil firms to desist immediately.

Their common position on the subject was contained in separate statements made available to newsmen in Warri at the weekend and duly signed by Chief Bekewei Warekromor (Amananaowei of Ojobo community); Mr. Tari Areprekumo (Chairman, Ojobo community); Chief Perry George (Ogbotobo CT Chairman); and, Dr Prince Jude Ebibokefie (Chairman, TCDB).

Specifically, the community leaders explained that the issue of some contractual irregularities between them and Italian oil contracting firm, Saipem, did not exist.

There was also no iota of truth in the allegation that the leadership of the communities were mobilising their youths to demonstrate at the embassies simply to embarrass Sapiem, the statements said.

Moreover, they denied that the communities in the locality had raised questions about being

denied whatever was due to their respective communities since the SSAGS project commenced, saying only mischief makers could threaten shutdown of oil facilities in the communities under the guise of purported breach in contractual agreement.

One of the statements noted: “As a people, we did not at any time request or call on SPDC to stop Saipem from handling its oil and gas projects within our communities. It is also not true that our youths are being mobilized by us to protest in embassies against Saipem’s continued presence in our communities.

“We could never have done so because there has been no basis for that. We further deny the allegation that Saipem ignited communal clashes in our communities and describe this as false alarm by relevance-seeking individuals who lack the competitive spirit.

We are working with Saipem to deliver the SSAGS project.”

On the alleged irregularities in contractual agreement, the

community leaders pointed out that the TCDB dialogued and agreed through Global Memorandum of Understanding (GMoU) and Freedom to Operate (FTO) agreements with SPDC and the contractors on the terms for execution of the project, before commencement of work.

“For the avoidance of doubt, all FTO related sub-contractible activities as awardable to the communities have never been denied the communities. Also, opportunities for the award of subcontracts had been and continue to be offered to competent contractors from our communities in a fair manner”, another statement explained.

Nevertheless, the communities debunked statements in certain recent publications including the allegation that “Chief Kenneth Obuku, Chairman, TCDB Board of Trustees, a true son of Ijawland in connivance with the oil firm has hijacked subcontracts meant for the indigenes” of the area.

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MONDAY APRIL 25, 2016 • T H I S D AY

NEWSEXTRA

There is No Case of Diversion of Bailout Loan in Osun, Says Gov APC applauds FG’s intervention to address workers’ salaries Yinka Kolawole inOsogbo The Osun State Government yesterday said the Independent Corrupt Practices and Other Related Offences Commission (ICPC) did not indict it over the application of the N34.988billion bailout funds it got last year.

The government, in a statement by the Director, Bureau of Communication and Strategy, Semiu Okanlawon, added the fact that the ICPC claimed it was investigating claims that workers in the state received their last salaries in July 2015 was enough for workers in Osun and those who have been monitoring developments in the state to conclude that the allegation could not have been true.

“This is because after the payment of seven months backlog of salaries last year, the government had proceeded to pay salaries on the agreed terms with workers.

And this is why Osun has been able to pay its workers till January this year.

“There is no case of diversion of bailout loan as far as Osun is concerned. The state was able to accommodate pensioners in the bailout loans application when in actual fact pensioners were not part of the bailout scheme. But this was agreed upon by both government and workers. “Don’t forget also that the bailout was to take care of salaries backlog up till June last year.

“The report that Osun paid salaries last in July 2015 is laughable.

“If anything, the Osun government

had demonstrated enough transparency by ensuring that the bailout loan was disbursed with adequate supervision of a committee of labour and government. Could the workers have collaborated with the government to divert such funds?” the statement asked.

The government said it was expected that the Peoples Democratic Party (PDP), in its desperation to hang anything on Governor Rauf Aregbesola, would not study carefully what the ICPC released to the public before jumping to the conclusion that it had been vindicated.

“Rather than being vindicated, the PDP has further demonstrated its desperation. That no worker in Osun would say he has not been paid up till January 2016 rubbishes its claim of being vindicated. “We have insisted that Aregbesola cannot be found wanting because whether in bailout funds or other funds of Osun he has been very creative in the management of the scarce resources to lift the state beyond the limit of the available resources.”

Meanwhile, the federal government has been commended for its ‘mature, responsible and compassionate’ approach to addressing the worst salary crises across states of the federation.

This commendation came as a response to the federal government’s current intervention to assist states with financial difficulties to pay their staff salaries.

In particular, the government was praised for its patriotic approach, completely devoid of partisan

PDP Senators Back Party’s National Chairman from North Ugo Aliogo Senators on the platform of the Peoples Democratic Party (PDP) in the upper chamber of the National Assembly have thrown their weight behind zoning the position of the National Chairman of the party to the North.

Consequently, they said the present National Chairman, Alhaji Ali Modu Sheriff, should be allowed to remain in office as he has shown capacity to steer the ship of the party towards a successful outing in 2019.

The senators who spoke in Abuja through Senator Hope Uzodimma (Imo West) said their position was for fairness and continuity as the last holder of the position, Alhaji Adamu Mu’azu did not complete his tenure before he resigned.

Uzodimma said what the PDP needs at this time of its declining popularity was a person like “Sheriff, an astute politician with a vast experience in grassroots politics, tenacity, resilience and the financial muscle to assist the party in its repositioning drive, working with stakeholders.”

“What is important in PDP now is a collective rescue mission with all hands on deck towards the actualisation and rejuvenation of the party to regain its lost glory of national importance and dominance,” he added.

Uzodimma who is the Chairman, Senate Committee on Aviation, said that since the emergence of the new PDP National Chairman,

the party has been focused and winning its re-run elections. Besides, he said: “Sheriff has been uniting all factions in the party and has entrenched an open door policy where all party members have an unfettered access to him to handle all party issues.”

The party stalwart stated that the onerous task of preparing the party for the task ahead rests mainly on the leadership, especially the national chairman, adding that Modu Sheriff must, therefore, be supported to bring everybody together through holistic and pragmatic reconciliation and mobilisation of party members across the country.

“It is only through a clean, clear and steadfast spirit of unity and oneness that the task ahead can be successful, hence the need to support the new chairman in this regard’, he stated.

Asked if the decision of the PDP to zone the presidential candidate to the North would affect the position of Sheriff as the National Chairman, Uzodimma said “it will not because the next two years will be used to revive and re-position PDP, thereafter, a midterm convention will produce the National Executive Council that will take the party to elections during which a presidential candidate from the North will emerge.

“Our interest is for the PDP to win elections, so merit should be the driving criteria for the party’s decision-making,” he said.

politics that had characterised similar situations in the past.

These sentiments were expressed by the state chapter of the All Progressives Congress (APC) in a statement signed by the party’s Director of Publicity, Research and Strategy, Kunle Oyatomi, which was made available to journalists in Osogbo.

The party said: “It takes a high degree of political maturity, responsibility and stately mind-set of compassion for political operators in our clime to act the way the

federal government has done.”

According to the state APC, this crisis underlines a major fault line in the structure of our federation, which is everything but federal.

“And it particularly stands in the way of naturally endowed states from being financially solvent through developing their natural resources.

‘It will take political courage in addition to address the crisis holistically, and we are all hopeful that the President Muhammadu Buhari-led federal government will

be up to that task.

‘We have cause to be this hopeful because President Buhari’s government has shown, by this intervention, that it feels for the people and is responsible enough to show compassion when it is needed.”

The APC therefore criticised politicians who it said were urging the federal government not to help states solve their salaries’ crisis.

The party said: “Only political vultures would prey on people’s pain to score disgusting political

point.

‘And when such politicians get out of their way to threaten mayhem if the federal government helped people in their states who have unbearable backlog of unpaid salaries, it portrays them as callous and grossly irresponsible.”

The party however called on citizens of Osun State as well as the security forces in the state to be on the alert so that “criminally disposed politicians who rejoice over people’s pain are stopped from actualising their murderous plans.”

60 HEARTY CHEERS

L_R:Mr.PeterEluyefa;hiswife,Dorothy;ArchbishopofIbadan, GabrielAbegurin;and Bishop-electofOsogboDiocese,JohnAkinwumiOyejola,atthe 60th birthday/retirementfromserviceof Mr.Eluyefa,atStAgnesCatholicChurch,Maryland,Lagos...yesterday

Centre for Financial Journalism Unveils Faculty The Board of Centre for Financial Journalism (CFJ), Nigeria’s financial journalism training and research centre, has constituted the faculty of the centre. According to the Chief Executive Officer of the centre, Ray Echebiri, the faculty was painstakingly selected from a rich reservoir of distinguished professionals based on their accomplishments and sterling credentials.

Members of the faculty would function as resource persons at the centre’s training programmes relative to their competence, experience and preferences.

Among the professionals on the faculty are: Prof. Martin Oluba; CEO, Value Fronteira Limited; Garba Deen Muhammad; Group General Manager (Public Affairs), Nigerian National Petroleum Corporation and President, Nigerian Guild of Editors; Angela Agoawike, immediate past Head of Public Relations and Information Department at the Organisation of Petroleum Exporting Countries (OPEC). Angela has also edited a number of titles in Nigeria.

Also on the faculty are Olufemi Awoyemi, a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and Founder/ CEO of Proshare Nigeria Limited (Nigeria’s foremost financial information hub); Dr. Boniface Chizea; a fellow (honourary) of the Chartered Institute of Bankers of Nigeria; Christian Udechukwu, CEO of BusinessinAfrica Events

UK Ltd, Africa’s leading business communications organisation; Jamilah Tangaza, immediate past Head of BBC Hausa Service and currently, Director, Abuja Geographic Information Management Systems.

Stanley Egbochuku, former Editor-in-Chief/Chief Operating Officer of BusinessDay Media Limited is also on the faculty and he brings over 35 years experience in the print media business to the faculty; Chizor Malize, CEO of Brandzone Consulting LLC, a thought leader on Branding and Marketing with a rich experience garnered from working on leading brands that span across diverse areas such as Branding, Advertising, Communications, Public Relations and /New Media.

Other experts on the faculty are Tilewa Adebajo, CEO, CFG Advisory Group and former Executive Director of Equitorial Trust Bank Limited. Tilewa is a consummate investment banking, financial policy expert and academic with over 27 years experience in managing transactions across various sectors and markets in Europe, Asia, Africa, North and South America; Ijeoma Nwogwugwu, Editor of THISDAY Newspaper.

Ijeoma is a business leader with over 25 years experience, and has spent 10 of this in executive roles with strategic management experience within the banking, media and public sectors.

Christian Ekeigwe, the first Nigerian and one of the few Africans with the CISA designation is also on the faculty. He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN). He is also a Certified Public Accountant (CPA), Certified Fraud Examiner (CFE), Certified Information Systems Auditor (CISA), and Certified Information Security Manager (CISM). Marcel Okeke, the Chief Economist of Zenith Bank Plc also brings his many years experience in such world class business organisations as Shell Petroleum Development Corporation of Nigeria, Champion Newspapers, The Guardian Newspapers and The Punch Newspapers.

Ayo Arowolo, a financial journalist cum media entrepreneur par excellence with over two decades of practice and elevating the standards of financial journalism in Nigeria is also a member of the faculty. He is the former CEO/ Managing Editor, Financial Standard Newspaper and currently a member of the Editorial team at THISDAY Newspaper and Arise Television as Editor-at-Large and Chief of Staff to the Chairman/Editor-in-Chief, with the responsibility of supervising the special editorial and business operations of the media house.

Ubong Essien, Nigeria’s first and currently the only Certified Speaking Professional in West Africa has led the field of motivational speaking since 1999 and brings his skills to bear as he joins the faculty. He is

also the award-winning publisher of The Achiever’s Journal and the Dean of the public speaking training centre known as The School of Eloquence with offices in Lagos and London.

Michael Uzor, the lead partner at DataTrust Consulting is also a member of the faculty, and he brings his competencies and skills across financial journalism, banking, stock broking and marketing communications to bear on the Centre’s offerings.

Also on the faculty are; John Wesey, who has more than 22 years of working and consulting experience both in the public and private sectors with focus on business strategy, organisational change, leadership development and project management; Goddy Chidi Ikeh, former CEO/Managing Editor of The Business Eye magazine and member of the Nigerian Guild of Editors. He worked for the News Agency of Nigeria (NAN) for more than 29 years and retired as Deputy Editor-In-Chief in charge of Business Desk. He brings his experience with government and international journalism practice, including serving as press secretary to three finance ministers and working for international news wires and newspapers – Platts Oilgram, OPECNA, Pan African News Agency (PANA), African Press Agency (APA) and Star Group of Newspapers of South Africa to the Centre.

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MONDAY APRIL 25, 2016 • T H I S D AY

NEWSEXTRA

Stop Apportioning Blames, Okowa Appeals to Nigerians Delta State Governor, Senator Ifeanyi Okowa has urged Nigerians to stop apportioning blames but, rather work for things to positively turn around in the country.

Speaking at the 50th birthday thanksgiving service of Justice Excel Timi at the Living Faith Church, a.k.a. Winners Chapel, Asaba, Okowa decried situation where leaders of the country were blamed for the country’s woes without people working positively to turn things around.

The governor attended the service with his wife, Edith; the Deputy Governor, Burutu Otuaro; Senator James Manager (Delta South), Hon. Victor Nwokolo (representing Ika Federal Constituency in the House of Representatives); Speaker and Deputy Speaker of the state House of Assembly, Hon. Monday Igbuya and Hon. Friday Osanebi respectively and a host of political

office holders within and outside the state.

According to the governor, “Nigerians are in pains, everything appears to be going wrong, even the energy sector appears to be going down despite our efforts to do it right, and our people easily apportion blames, insult people in authority.”

“The church has a role to play to turn things around, this is time to pray for Mr. President, pray for those holding offices, our Leaders, the church should pray for our leaders, we need to pray more and we need to search our souls to find out why things are not going the way they should,” he said.

“I believe the church can turn the situation around, not Mr. President, not Mr. Governor; what is the church doing about counseling to those in authority?,” the governor queried.

He added: “We should intercede and fast for this nation,

Youth Group Accuses Presidency of Persecuting Saraki Ugo Aliogo Youths under the aegis of Congress of Nigeria Youth Leaders (CONYL) have accused the presidency and some forces in the ruling All Progressives Congress (APC) of prosecuting the Senate President, Dr. Bukola Saraki.

The group noted that evidence in public domain on the ongoing trial of Saraki has shown that the Code of Conduct Tribunal (CCT) is been used by “some vested interests in the ruling party and the presidency to settle cheap political scores.”

The group expressed frustration that the prosecution is drawing the government backward, stressing that the executive and legislative arms of government ought to be working together towards ameliorating the sufferings of Nigerians, “instead they engage themselves in cat and mouse fight.”

The Convener of CONYL, Yinka Dallas, who disclosed this to journalists at a media briefing yesterday in Lagos, noted that Saraki’s trial had given credence to the earlier insinuations that government agencies are been used to victimise imaginary and perceived opposition of the government.

He lamented that the ruling party has been concerned with the infighting in the party rather than ameliorating the sufferings of Nigerians, stressing that this does not augur well for the growth of democracy.

Dallas also noted that the current anti-corruption war is aimed at personalities who are not in the good books of the government, adding that this is a sad commentary on President Muhammadu Buhari’s anti-corruption war.

He expressed disappointment on the part of the federal government on the current fuel scarcity, noting that the administration has remained clueless on how to address the issue, and the Nigerians have had

to go through untold hardship.

“Knowing that the economy is reliant on petroleum, the scarcity of the product have led to almost 300 percent inflation of the price, thereby leading to a general increase of goods and service in the market,” he added.

Dallas added: “The fight between the major leaders of the party was not the reason Nigerians especially the youths mobilised and voted massively for them during the last general elections, rather it was because they wanted their conditions to improve. But one year has gone by, and their sufferings have been compounded.

“The Fulani herdsmen have increased the tempo of their violence on innocent villagers and farmers, a good example is the Agatu massacre where than 100 villages were destroyed and scores of people killed.

“Electricity have not fared better either, mega watts have continued its embarrassing fall.

The country with its trillion of cubic gas deposit, coupled with rivers to power dam and solar system has reportedly generated zero mega-watts last month.

“The country has now been turned to a ‘generator state’ with virtually every household and business running on 24hrs generator. All basic necessities of life, expected from governments around the world, are non-existent in Nigeria.”

He further called for the setting up of a high powered education summit which will involve all stakeholders in the education sector, in order to bring a lasting solution to the decline of the sector, stressing that the sector is experiencing serious retrogression and the government is not showing the desired attention.

On his part, the Lagos State Chairman, Nigeria Union of Journalists (NUJ), Deji Elumoye, called on Nigerians to support the federal government its efforts to bring the desired change to the nation.

intercede and fast for our state; devote more time for our nation, engage in positive activities, God will answer our prayers if we will sincerely call on Him to turn things around.”

Okowa congratulated Justice

Timi as she clocked 50 years.

The celebrant, Justice Excel Timi at the occasion, said, the birthday thanksgiving was to give thanks to God for His bountiful blessings in her life especially as she was diagnosed with sickle

cell disorder at the age of 11, but has lived a fulfilled life beyond that predicted by man.

In his sermon, Pastor Samuel Johns observed that financial dominion was the heritage of those who lives in Christ, stating

that even in the period of financial depression, those in Christ would come out of it stronger.

He called on Nigerians to create job opportunities rather than waiting for government employment.

BUHARI INHERITED N600BN OIL MARKETERS’ DEBT Port Harcourt Refining Company now produces five million litres of petrol while the Warri Refining and Petrochemical Company produces two million liters of petrol daily.

Kachikwu, the statement explained, had said this while re-commissioning the BonnyPort Harcourt Refinery crude oil pipeline that has just been rehabilitated after it was out of use for so many years due to incessant pipeline vandalism.

According to the statement, the minister stated that Kaduna refinery is also scheduled to start production any moment from now.

He added that the coming on stream of the three refineries would go a long way to ensure sufficient supply and distribution of petrol across the country.

He said the NNPC under his watch has been able to recover the two critical crude supply pipelines which are Escravos to Warri and Bonny to Port Harcourt crude supply pipelines, stressing that they are critical to the downstream sector of the industry.

“Port Harcourt is back in production, Warri is back in production, Kaduna as at today is receiving crude and will soon be back in production.

“Lagos is easing off now from fuel scarcity and Abuja is doing the same thing and once Kaduna begins production, the north will see a lot of improvement,” said Kachikwu in the statement.

He added that for the first time in many years, the three refineries are going to be working and it will help in a great deal with the issue of fuel supply and distribution across the country.

He noted that a commercial governance model system was being introduced into the refineries to keep them in business as well as enable them compete favourably in the hydrocarbon value chain.

According to him: “What we have done is to find a very creative way of bringing investors who will come in, work with our team here who have the skills, reactivate and upgrade facilities in these refineries.”

He said the investors would also help provide technical support for the refineries, for which they will be paid through the flow out of refined products over a period of time.

Kachikwu explained that under the model, whatever the refineries produce will be theirs and they will sell to one huge customer which would be both Nigerian Petroleum Marketing Company (NPMC) and independent marketers.

He also noted that the misgivings that the NNPC plans to hand over the refineries was not true, saying that President Muhammadu Buhari was very clear from day one, that at this point in time he was not ready for that.

“We are not inviting foreign

partners to take over the refineries, we do not have the funds, even now that they are working, they are probably working at about 60 per cent or below capacity so you need to upgrade these refineries and get them to a level where they will operate at 90 per cent capacity or more.

“It requires money and total investment for that is in excess of about $700 million and we don’t have it,” he stated.

Meanwhile, the Nigeria Extractive Industries Transparency Initiative (NEITI) has clarified issues relating to the divestment of eight oil blocks bytheNNPCtoitsupstreamsubsidiary, the Nigeria Petroleum Development Company (NPDC) in 2011, admitting that it misrepresented and quoted the NNPC out of context.

NEITI had in a statement it issued at the weekend quoted NNPC’s Group Executive Director in charge of Finance and Accounts, Ishiaka Adbulrazak as saying that the NNPC has acknowledged that the transaction leading to the asset divestment was not

transparent and requires investigation.

According to NEITI, Abdulrazak supposedly made the disclosure while speaking at a meeting between the Chairman of the board of NEITI, Dr. Kayode Fayemi and the NEITI management led by the Executive Secretary, Waziri Adio in Abuja.

“On the divestment of oil wells by the NNPC to NPDC at the cost of $1.8 billion for which only $100 million has so far being paid, the GED agreed with NEITI position that the transaction was not transparent and requires comprehensive independent investigation,” NEITI had said in the weekend statement.

It further quoted him to have said: “We in the new management team of NNPC have reviewed that transaction and totally agree with NEITI that the transaction was not transparent and should be investigated.”

But admitting that it quoted the NNPC out of context in a statement yesterday, NEITI’s Director of Communications,

Orji Ogbonnaya Orji, said: “NEITI wishes to clarify its earlier statement that the Group Executive Director, Finance of NNPC, Mr. Isiaka Abdulrazaq, had claimed at a recent meeting with NEITI that the assignment of eight oil blocks

by NNPC to one of its subsidiaries, the NPDC, was not transparent and would be investigated.

“NEITI wishes to state categorically that Abdulrazaq did not say that the transaction was not transparent; neither did he say the new NNPC management would investigate the transaction…

An internal review by NEITI has confirmed that Abdulrazaq was quoted out of context and was misrepresented in our earlier statement,” he added.

While regretting quoting the NNPC out of context, NEITI said the mix up was occasioned by a discussion about the full payment of the consideration for the divestment and some reconciliation issues flagged in the finalised 2013 NEITI audits.

MONDAY APRIL 25, 2016 • T H I S D AY

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CRIME&PUNISHMENT

$40m Contract: Family Cries out over EFCC’s Detention of President Jonathan’s Cousin Akinwale Akintunde The family of Rober Azibaola, a cousin to former President Goodluck Jonathan, has decried his continuous detention by the Economic and Financial Crimes Commission (EFCC) despite the fact that he was granted bail by Federal High Court.

Azibaola, who is been investigated by the commission over his alleged involvement in the diversion of a $40 million oil pipeline security contract through One-Plus Holdings, a sister company of Kakatar Construction Limited, has been in EFCC custody since March 23, 2016.

The payment was said to have been paid by the detained former National Security Adviser, Col. Sambo Dasuki (rtd).

He was however granted bail

by Justice Goodluck Olasunbor of the High Court of Federal Capital Territory.

Justice Olasunbor held that Robert’s detention by the EFCC for over two weeks was unconstitutional.

There was however a new twist last Friday as Azibaola was moved

from Abuja to Lagos by the EFCC only to be taken to the Lagos Magistrate Court Ikeja, asking for an order for his detention which was granted.

Addressing a press conference in Lagos yesterday, Azibaola’s brother Dr. Faith Robert alleged that the EFCC has refused to obey the bail order.

“It is important to note that EFCC, an organisation created by an Act of Parliament has continued to treat the order of a Federal High Court with contempt.

Some officials from the commission have even boasted that no court order can be binding on EFCC. “It is instructi ve to note that even the remand order by a Magistrate Court which EFCC relied on to detain my brother expired on April 19. After several surreptitious attempts to renew the order in several magistrate court failed in Abuja, they sneaked him to Lagos to obtain a fresh remand order from another magistrate court even when there is a subsisting order and production warrant from a court of superior jurisdiction,” he said.

Robert also alleged that officials of the commission has been putting pressure on Azibaola to implicate former President Goodluck Jonathan.

“Even though EFCC is yet to formally charge my brother to any court of law, 10 months after launching investigation into his companies, his interrogators have told him in clear terms to ‘say something to implicate’ his cousin, former President Goodluck

or rot in EFCC custody.

“In EFCC custody, Azibaola, has been repeatedly bullied, harassed, threatened and psychologically traumatised to either implicate.

Goodluck Jonathan or be ready to face Dasuki treatment. Some have even taunted him to get his fisherman cousin (Former President Jonathan) beg President Muhammadu Buhari to release my brother “if Jonathan indeed has my clout.”

“They claim that my brother holds enough evidence to lead to the arrest and prosecution of former President Jonathan before May 29, 2016 and must produce such by ‘all means.’

“It is unfortunate that in targeting former President Goodluck Jonathan my brother has become a pawn on the chessboard of the current government. More unfortunate is that EFCC, under Mr. Ibrahim Magu, has constituted

itself into the accuser, prosecutor and judge in this matter and has continued to undermine the Judiciary - all in the bid by the acting chairman to curry the favour of his masters and possibly be confirmed substantive chairman of the commission.”

Robert called on the EFCC to immediately charge his brother to court and allow him to enjoy the bail already granted to him.

Osun Perm Sec, Two Others Regain Freedom from Kidnappers Yinka Kolawole inOsogbo Three staff of the Osun State civil service, Mrs. Bimpe Ogunlumade, Permanent Secretary, Ministry of Finance, Mr. Tajudeen Badejoko, Director of State Audit and the driver of the state Auditor General, Mr. Oladapo Ajani Arogundade, regained their freedom from their abductors yesterday evening.

However, arrangements are now being made to convey them to Osogbo within the shortest possible time by security agents with a view to re-uniting them with their families and relations.

The Osun State Government resorted to spiritual for the immediate release of the three state officials kidnapped on Friday along Obajana-Lokoja Road while returning from Abuja on official duties.

Also, the state chapter of the Peoples Democratic Party (PDP) has appealed to the security agencies to ensure the safe release of government officials abducted in Kogi State last week.

Three officials including the Permanent Secretary; Ministry of Finance, Mrs. Adebimpe Ogunlumade; Director, State Audit, Mr. Tajudeen Badejoko, and the driver, Mr. Oladapo Ajani Arogundade, were accosted by unidentified gunmen; forced their car to stop and abducted them.

The state government may have pleaded with churches through the leadership of the Christian Association of Nigeria (CAN) to raise prayer warriors that would continue to intercede on behalf of the victims so that they can be released from their captors.

Indeed, the state Deputy Governor, Mrs. Grace Titilayo Laoye-Tomori, worshipped at Mountain of Fire and Miracles Ministries (MFM), South-west 10 Region, Kola-Balogun where she forwarded the names of the victims

to the visiting Regional Overseer from Lagos, Pastor Isaac Omotosho, who asked the congregation to pray for immediate release of the victims.

It was further learnt that the state government had sent a signal to other churches where intercession was raised for the victims of the kidnappers.

Similarly messages were said to have been sent to mosques and other places for divine intervention in the matter.

As at the time of filing this report, the state government has dispatched a delegation to visit the families and relations of the victims to reassure them that the government was leaving no any stone in ensuring quick release of the government officials.

The government has also raised a delegation of high level security operatives to Kogi State to join forces with those in the state to search for the whereabouts of the victims.

The state Head of Service, Mr. Yinka Owoeye, said in a statement issued that the state government has alerted all necessary security agencies nationwide in general and Kogi State in particular towards safe release of the three abducted officials.

The statement then appealed to all Nigerians for information that could lead to their immediate release to please render it.

However, the state PDP Director of Media and strategy, Prince Diran Odeyemi, said the positions held by the abducted officials, especially the permanent secretary, who oversees the ministry since 2014, in the absence a commissioner “is very sensitive” hence the need to ensure her safe release.

The statement read: “It is very sad that despite the self-inflicted economic challenges that has crippled governance in Osun, the state has again found itself in this kind of situation where it has to pay ransom to effect the release of the kidnapped officials.

SEEKING COLLABORATION

Minister of Youths and Sport, Federal Islamic Republic of Gambia, Mr. Alieu Jammeh (left); with the Director General, National Youth Service Corps (NYSC), Brigadier General, Sule Zakari Kazaure, during a courtesy visit by officers of Gambian Embassy to the new NYSC boss in Abuja..recently

Police Arrest Woman for Stabbing Neighbour to Death

We Don’t Engage in Criminal Activities, IPOB Tells Anambra CP

Chiemelie Ezeobi

Emmanuel Ugwu inUmuahia

Policemen attached to Ajah Police Station in Lagos have arrested one Ndifreke Femi, a 30-year-mother of two, for allegedly stabbing her neighbour, Ayomide Ayenuwa to death.

The deceased, a 28-year-old part time student, was stabbed to death at Femi’s block 109 Ikota Housing Estate residence, at the Ajah area of the state.

Ayenuwa, met his untimely death when he want to Femi’s apartment next door to settle his monthly electricity bill.

He however met Mr. and Mrs Femi embroiled in a domestic scuffle and when he tried to settle the couple, the suspect was said to have rushed into the kitchen, brought out a kitchen knife, which she allegedly used to stab him in the neck.

Despite frantic efforts of other neighbours to save his life by rushing him to the hospital, he died from the loss of too much blood.

One of the neighbours identified as James Peter said: “ That fateful day, at about 5p.m., Ayenuwa went to Mr. and Mrs. Femi’s apartment to pay his electricity bills.

“However, when he got to their room, he saw the husband and wife quarrelling. Ndifreke was accusing her husband of stealing the N20,000 she hid under their mattress.

“Since the husband denied the allegation, she then fought him. It

was that scenario that Ayenuwa walked into and tried to mediate.

“Ayenuwa made efforts to settle the quarrelling couple but they kept fighting each other. Ayenuwa appealed to Ndifreke to take the matter easy but she descended on Ayenuwa and started calling him names.

“Moreover, Ndifreke’s husband had maintained that he had nothing to do with the disappearance of his wife’s money.

“Despite all entreaties made by Ayenuwa to appease Ndifreke, she sadly turned her anger on Ayenuwa and started abusing him to mind his business. That was how Ayenuwa tried to leave the couple to their troubles.

“As he was walking away, Ndifreke ran into the kitchen and brought out a kitchen knife which she used to stab Ayenuwa on his neck from behind.

“Other neighbours made frantic efforts to save Ayenuwa’s life while others held Ndifreke down and almost lynched her.

“The concerned neighbours with Ayenuwa’s family rushed him to the Peninsula Hospital at Ajah for treatment but he was referred to the General Hospital at Akodo. Sadly, he died on his way to the hospital.”

THISDAY gathered that the case was reported at the Ajah police and the suspect was arrested but her husband fled and he is still on the run.

The Indigenous People of Biafra (IPOB) has faulted the Anambra State Commissioner of Police, Mr. Hosea Karma, for linking the organisation with criminal activities, saying the CP was chasing shadows instead of dong his job.

The CP had reportedly identified IPOB as a major security challenge confronting him in Anambra, accusing the pro-Biafra organisation of involvement in criminal activities, including killing, raping, kidnapping.

But in response to the allegations by the Anambra CP, the spokespersons of IPOB, Dr. Clifford Iroanya and Emma Mmezu, said in a statement that Karma was merely mouthing the chorus of the federal security agencies in order to give a dog a bad name to hang it.

It said for the police commissioner to manufacture stories against IPOB was a strong indication that he didn’t know his job and needed to be educated on what constituted security challenges and how to conduct intelligence work in policing the state.

IPOB wondered why the CP would point accusing finger at an organisation that has never engaged in violence and then turn a blind eye to the heinous activities of Fulani herdsmen who are spreading terror in their

murderous campaign of killing, maiming, raping of women, kidnapping and the destruction of farmland and properties.

It challenged Karma to prove to the whole world how and when IPOB engaged in any of the “fabricated lies” he dished out to discredit the organisation.

It said: “We are therefore calling on Mr. Hosea Karma the commissioner of police in Awka to prove his claims that IPOB was part of any crime in Anambra or any where in the world now the International Criminal Court (ICC), Amnesty International (AI) and other relevant human rights organizations are here for the investigations of the killing of peaceful and unarmed protesters in Nigeria.”

The group said it was aware that Karma had perfected plans with agents of the All Progressives Congress (APC) to feed the public with falsehoods in order to create impression IPOB were involved in illegal activities, adding that the game plan would collapse like others.

“IPOB remains a nonviolent movement that is determined in pursuing its campaign towards the restoration of Biafra without fighting, nothing more nothing less,” the statement said, adding that “they will kill us but at the end we will get Biafra (because) we know the strategy and how to achieve it.”

MONDAY APRIL 25, 2016 • T H I S D AY

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NEWSEXTRA

Ajimobi Gives Conditions for Return of Mission Schools The Oyo State Governor, Senator Abiola Ajimobi, has promised to hand over mission schools to owners who have genuine proposal for the development

of such schools and proven commitment to education advancement.

The governor made the promise in his address at the

Ambode Mourns Passage of Former Lagos Deputy Gov, Jafojo Says he was a giant in the progressive fold The Lagos State Governor, Mr. Akinwunmi Ambode, yesterday expressed sadness over the passage of the former Deputy Governor of the state, Alhaji Rafiu Jafojo.

Jafojo, who was Deputy Governor during the administration of former governor, Alhaji Lateef Jakande, during the Second Republic, died on Saturday in his Lagos residence at the age of 80.

The governor in a condolence message signed by his Chief Press Secretary, Mr. Habib Aruna, said Jafojo’s death was a great loss to the state, adding that his contribution to the development of state will not be forgotten in a hurry.

“Alhaji Jafojo was part and parcel of an administration during the Second Republic that has been widely applauded across Nigeria for achieving several milestones which is still being made reference to. “He was an astute politician who was very loyal to the course of developing the state and together with Alhaji Lateef Jakande, they formed a strong partnership and set the template for the development of Lagos State.

“That he was a progressive minded politician was never in doubt. Little wonder he joined the

defunct Unity Party of Nigeria (UPN), which was founded by the late sage, Chief Obafemi Awolowo, on which platform Baba Jakande and himself emerged as governor and deputy governor of Lagos State in October 1979.

“He walked closely with Awolowo and learnt the ropes and the ideology of putting the people first. In his latter days, he was a strong pillar of the progressives and a grassroots mobiliser,” Ambode said.

The governor said that Jafojo, despite his age continued to contribute his quota to the development of the state and always made himself available for any course that was geared towards moving the state forward.

Ambode while commiserating with the family of the late politician, said the state government under his administration will continue to ensure that the ideals he propagated while he was alive will continue to be upheld and improved upon.

“On behalf of the government and good people of Lagos State, I want to express our heartfelt condolence to the family of Alhaji Jafojo on this great and irreparable loss. He surely paid his dues and Lagosians will always remember him,” the governor said.

archdiocesan reception for the 34th council of Bishops at the Bishop Ayo Ladigbolu House, Molete, Ibadan, at the weekend which was attended by bishops and archbishops of the Methodist Church across the country.

He said this in response to a request by the Prelate of the church, Dr. Samuel Uche, for the return of mission schools to their original owners for what he called proper running of such schools.

The governor stressed that any religious body or organisation without a questionable intention would be allowed to run such schools inasmuch as they meet the requirements that might be set by the government.

Ajimobi said: “The government will look critically into this request, as we believe that the church and the mosque are veritable sociopolitical avenues to reach out to the people with government’s

programmes and policies.

“Your request, however, would receive favourable consideration if they are found to be genuine and in the greater public interest.

If we receive genuine proposals and we are convinced of the commitment of such schools to education development we will consider it.

“The current state of economy in the country requires the collaboration and cooperation of all and sundry for us to progress.

Any organisation or group willing to partner the government in any sector to accelerate such progress will be welcomed.”

Ajimobi urged the congregation and the church in general to rededicate themselves to God and to continue to pray for the uplift of the country, while advising the people that only a combination of hard work and prayers would lift the country out of the abyss

of poverty.

According to him, finding solutions to the economic recession confronting the country was no longer the responsibility of the government alone, but a collective obligation of all citizens and private institutions.

The governor added: “It will be to everyone’s joy if the Methodist Church in Nigeria can continue to propagate patriotism and oneness with the support for the government towards enhancing productive economy and general development.”

He also commended the church for what he called its huge contributions to the spiritual rejuvenation of the people, which, he noted, had contributed immensely to the peace and tranquility being enjoyed in the state.

Earlier, the Prelate had said that the Methodist church would

continue to partner the state and federal government in all spheres of development.

Besides, he vowed that the church would continue to pray for the government and the people of the country to get out of the prevailing economic challenges, stressing that whatever affects the people would also affect the church.

Uche said: “The church will continue to give spiritual support to the government to overcome the current financial mess, since the church is peopled by citizens and whatever affects the people affects the church.

“It is in this regard that we are appealing to the governor to give serious consideration to the return of mission schools to their owners. We believe that such schools will be well managed while the products will be imbued with the fear of God.”

Amnesty: The Lunch is over, IYC WELL DESERVED HONOURS Tells Niger Delta Youths Emmanuel Addeh in Yenagoa The Ijaw Youth Council (IYC), the influential umbrella body of all youths of Ijaw descent, yesterday called on the Niger Delta region to prepare for a future without the federal government’s amnesty programme, which is gradually winding down.

President of the body, worldwide, Mr. Udengs Eradiri, who spoke at the Ijaw House, Yenagoa, the Bayelsa State capital, when students of the National Union of Bayelsa State Students (NUBSS), paid him a visit, urged all those who have benefitted from the programme to empower themselves and prepare for the next phase of the Niger Delta struggle.

“Right now a conflict is about to occur because of the refusal to pay amnesty stipends. They have reduced the amnesty budget from N60 billion to N20 billion. Some names have been removed. That amount cannot even pay for the amnesty education programme, not to talk of stipends.

“Stipends have stopped. They tell you they are working on something. It’s a lie. Boro (Amnesty Coordinator) is working, but our politicians are not protecting the Niger Delta interest. Niger Delta senators are not defending our projects in the budget.

“Graduates and all others who have been empowered are expected

to set up themselves somewhere.

The lunch is over. We have laid our complaint, not about stipends, because nothing lasts forever, but about the NDDC budget,’’ Eradiri said.

He called for the urgent return of the Lagos-Calabar Railway project to the budget, which he said would help cushion the effect of the stoppage of the amnesty programme soon, noting that the crime rate in the region was already escalating due to the current hardship. “The reality has come.

Let’s face it. Don’t go and block roads. Don’t waste your time. I don’t want to bury anybody. I will not encourage anybody to demonstrate against this stipend thing.

“The programme is exiting, take your certificates and move on, after all, no one wants to be on a N65,000 for life,’’ he advised.

On the recent violence at the Niger Delta University, the IYC president condemned the action of the students, warning that such lack of good sense of judgment was regrettable.

“You students got into a riot and destroyed school property.

Any property you destroy, you will pay for it, even when you are not there. This is our university.

“It has educated many of our people. How can you have a grade point of 1.0 and the system expunges you and you start destroying things,’’ he queried.

MD/CEO ofVDTCommunications, Biodun Omoniyi, holding the two awards won at BoICTAwards (Bandwidth Company of the Year and ICTPersonality of theYear).With him are L-R: Head HR and Admin of the company,Yinka Siyanbola, ChiefTechnology Officer,Victor Omoyeni; GM Sales and Marketing; BimboIkumariegbe, andHead,ServiceManagement,FunkeOlutola,inLagos...recently

Atiku Charges USOSA on Education for all, Congratulates Odinkalu, Others Former Vice President, Alhaji Atiku Abubakar, has expressed his commitment to the newly-elected executives of USOSA, the umbrella association of Unity Schools alumni, under the leadership of Professor Chidi Odinkalu, who was voted as President-General in Abuja at the weekend.

In a congratulatory message released by his media office, the Turaki Adamawa noted that his confidence in Odinkalu’s leadership was as a result of his long term awareness of the professor’s passion for education.

Atiku is Grand Patron of the Federal Government College, Okigwe, alumni association.

Odinkalu was until his new appointment, Secretary of the same association.

“Most of my philanthropic investments are in the area of education, particularly with my founding of the American University of Nigeria (AUN) while Odinkalu is a teacher who has spent a great deal of his time teaching around the world and

doing advocacy.”

The former vice president noted that Odinkalu’s emergence could not have come at a more critical time, when education in our country faces huge challenges especially in the insurgency-ravaged North-east.

He added that the country’s Unity Schools in particular were in danger of going into extinction as centres of excellence and losing the essence of their founding.

“One of my children attended Unity Schools back in the day.

Sadly, they are not what they used to be. But I have faith that, with a new leadership of the association in place, advocacy can be used to reverse the rot,” he said.

The former vice president also congratulated other elected members of USOSA, reminding them that a tree does not make a forest and assuring them of his support in their commitment to ensure education for all.

“Alumni of Unity Schools are the last vanguard in the battle of the unity of Nigeria,” Atiku said.

NCAA to Partner Police in Prosecuting Unruly Passengers Chinedu Eze The Nigerian Civil Aviation Authority (NCAA) has said henceforth it would partner with the Nigerian Police to prosecute any passenger or airport user whose action or behaviour goes against the regulations that guide proceedings at the airports.

NCAA was reacting to the recent action by an unruly passenger who resorted to smoking on board an aircraft in abeyance to civil aviation regulations, who has been handed over to the police for prosecution.

According to spokesman of NCAA, Sam Adurogboye, the passenger (name withheld) was on board South African Airways Flight 060 from Johannesburg to Lagos and was alleged to be smoking on board the aircraft in contravention of Section 58 of the Civil Aviation Act 2006, Part.17.97.2 (a) and (c) of the Nigeria Civil Aviation Regulation 2012 (Nig.CARs).

Adurogboye said the plan to partner with police had reached an advanced stage as contained in correspondences between the

Authority and the Nigeria Police Force, pledging to collaborate to ensure adequate investigation preceding the prosecution.

“In line with Part 20.2.3.42 of the Nig.CARs, the stipulated penalty for smoking on board an aircraft is imprisonment of not less than two months. It is important to note that according to the regulations all airlines should and must as part of pre-flight formalities and announcement that smoking is prohibited anywhere in the cabin including the toilet,” Adurogboye said.

He noted that the aforementioned culprit had however, failed to adhere to this warning.

“Therefore, NCAA will collaborate with the police to ensure prosecution. NCAA is committed to following this case to its logical conclusion to serve as a deterrence to others who possess the penchant to flout the authority’s regulations.

“In addition, our Directorate of Consumer Protection (DCP) has been strengthened to ensure passengers get full value for their money and comfort,” Adurogboye added.

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T H I S D AY • MONDAY APRIL 25, 2016

MONDAYSPORTS

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

Dalung to Approach Presidency over Rio2016 Preparations Duro Ikhazuagbe Nigeria’s preparations for the 2016 Olympic Games in Rio de Janeiro is been hampered by the inability to account for the N2.9billion released by the Federal Government to the defunct National Sports Commission (NSC) last year.

Speaking in Lagos last weekend, Minister of Youth and Sports, Solomon Dalung, said that the money meant for the 2015 All Africa Games as well as the preparations for the Rio2016, could not be properly accounted for which explains why the Federal Government was reluctant in releasing further funds.

Now, Dalung has promised to take the matter of Nigeria’s preparations for the summer games to the Presidency to avoid a repeat of the failure at London 2012 in Brazil.

“The money was meant for the 2015 African Games, as well as preparations and participation in the Rio 2016 Olympic Games, but as I am talking to you now, I don’t have money to call our athletes to camp, and we have not been able to go back to the Presidency for more money because we have not retired the one they gave to us,” declared the minister who was in Lagos to inaugurate the 20 boats donated to the Rowing and Sailing federation.

Dalung further revealed that the said money was released to the former director general of the defunct NSC, Mallam Al Hassan Yakmut and the Presidency insisted that it must be accounted for before more money can be given to sports for the Olympic preparations and participation.

“A few days ago, I got the explanation of how the money was spent, but I believe we can do better than that. We have to be tidy in everything we do so that people will look at us with respect. We will go back to the Presidency to bail us out in respect of the Olympic Games in Brazil,” stressed Dalung.

While also speaking on the country’s sports facilities most of which were in sorry states, Dalung said that the former Games Village in Afuze in Edo State was worse than the shrine in his town in Plateau State.

“The Games Village in Afuze, is worse than the local shrine in my village.

We have however set up a committee to go round and give us an updated report on the state of these facilities They will be brought back to life. All the abandoned sports projects scattered all over the country will be completed and put to use for the benefit of our youths,” stressed the sports minister.

“I am not going to build new facilities when the ones

Osimhen Fires Hat-trick in Tune up Match Victor Osimhen yesterday scored a hat-trick in Flying Eagles’ 5-0 defeat of Kano-based Dabo Babes FC 5-0 in yet another test match.

The FIFA Under-17 World Cup winner was the man-of –the-match at the FIFA Goal Project, Abuja as his first half hat –trick drew applause from an appreciable crowd that included Nigeria U-23 team Coach Samson Siasia, former Super Eagles captain Mutiu Adepoju, one-ime Super Eagles Assistant Coach Bitrus Bewarang and NFF assistant director (Technical) Siji Lagunju, also a former Nigeria international.

Spectators were still exchanging pleasantries on arrival at the venue, when Wolfsburg striker Osimhen set the game alive with his first minute strike. That goal came in just 25 seconds of play.

He added a second in the 25th minute after some good work from the flanks by Samuel Chukwueze.

Chukwueze, bronze boot winner at the FIFA U-17 World Cup Chile 2015 and who will be penning a deal with English Premier League side, Arsenal in the coming days also had his name on the scorers’ sheet, combining well with Osimhen to slot the ball beyond a bemused Dabo Babes goalkeeper for the third goal of the match.

Just when it looked like the

Flying Eagles needed a breather after some exhausting early minutes display,Victor Osimhen came up with the fourth goal in the 43rd minute to complete his hat trick and make it a comfortable lead before Chukwudi Agor completed the rout in the 47th minute, running onto a through pass from Orji Okonkwo to fire home a long range shot which drew applause from the spectators. In the second half, Flying Eagles gaffer Emmanuel Amuneke brought in some of the untested legs and rested his key men as he became conscious of the task ahead. The half produced little in form of excitement, as the Nigeria U-20 played safe to avoid unwanted injuries.

The match was the second in a series of friendly games lined up

by Coach Emmanuel Amuneke for his wards as they intensify preparation for next month’s Africa U-20 Cup of Nations qualifying fixture with Burundi.

The process started with 30 players invited to the team’s Serob Legacy Hotel camp in Wuye. They were joined on arrival by over sixty other players at a routine screening exercise that lasted over two weeks after which the number was pruned down to 45, to allow the coaches concentrate more on individual abilities .

we have are not being utilised effectively. So, what I will do is to update all the facilities to make them useful to our athletes.

“We have secured a sponsor, a developer backed by banks to refurbish the National Stadium, Lagos. He will also build a five-star hotel within the facility.

“The Abuja Stadium will also be redeveloped by a concessionaire, who will build an artificial lake within the facility. That lake will take care of most water sports when completed,” he promised.

Dalung also explained that he had no hand in the scrapping of the NSC, stressing that it was done within the purview of the civil service.

“The Federal Government was in the process of merging some of the departments and ministries when I assumed office in November. I was not a member of the body charged with that responsibility, but I knew about the proceedings through the permanent secretary, who briefed me on what was going on.

“Unfortunately, the former NSC Director General, (Yakmut), had a good argument on why the NSC should be retained, but he never brought that argument to me. I would have been able to convince

the committee on the need to retain the NSC. And so when he came to me after the

committee had concluded its assignment, there was nothing I could do about it. I could

not call them back to begin the process afresh,” revealed Dalung.

Iheanacho... dreaming Real Madrid clash in the Champions League tomorrow

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

Iheanacho: It Will Be a Dream to Face Real Madrid Nigeria youngster Kelechi Iheanacho has said it will be a dream come true for him if he played against Real Madrid tomorrow in a UEFA Champions League game.

The Taye Academy of Owerri product has been a hit for Manchester City this season scoring a brace Saturday in a 4-0 spanking of Stoke City to take his goals’haul this term to 11.

“I think I should dream about that because it’s a great team to dream to play against,” he said.

“It would be a dream come true to play against them.

“I think I’ll be happy when I play against them.”

On his two-goal performance against Stoke, Iheanacho said:“I am very pleased and I am very happy to score goals.

“I thank my teammates and my

manager for helping me achieve this,” Iheanacho told ITV after the game.

Goalkeeper Joe Hart also had words of adulation for the young forward.

“He (Iheanacho) has been brilliant.

“When he turned up last pre-season somewhat unknown.

“He’s really worked hard and got stuck in and he’s got a lot

of belief in from the manager if I am honest.

“He’s a brilliant part of our squad and we are really proud to have him.

“He’s come in through our youth system and is really important and shows how good a good we’ve got,” Hart said.

Iheanacho has scored 11 goals in all competitions for City this season.

2 0 1 6 B OA L AW Y E R S ’ L E AG U E

Falana Dethrones Agbakoba

Falana & Falana yesterday defeated Olisa Agbakoba Legal (OAL) 1-0 to emerge the new champions of the 2016 BOA Lawyers’ Football Tournament.

In a tension soaked final game at the Astroturf 2000 arena in Ikoyi, Lagos,the lone goal byAkin Dada in

the first half was all Falana & Falana needed to dethrone Agbakoba.

After a first half that was dominated by OAL, the second stanza was filled with bile as hard tackles on both sides led to caution cards from the two referees in the five-a-side game. With minutes to

Falana & Falana players celebrating the victory last night

end of the game, tournament’s top scorer, Falana’s Tayo Fatusin was sent off for a second yellow card. Moments later, skipper of the side, Stanley was equally sent off. Although another player was introduced to replace Fatusin after three minutes wait.

But the team from Ikeja GRA held on resiliently to smile away with the ultimate trophy.

Principal Partner of Falana & Falana, Mr Femi Falana (SAN) who watched the proceeds from the stand expressed his happiness with the victory.

“This is great, although the officiating of this final was poor, I am happy that both teams that played in the final are human rights advocates. As is normal in every sport, a winner must emerge.

I am glad we did,” Falana told THISDAY. Although he admitted to handsomely reward the team, he did not disclose what form it will be.“ That is exclusive for now.”

To reach the final, Falana & Falana penultimate weekend defeated Aluko & Oyebode 2-0 in the semi final with Tayo Fatusin and Tony Ajadi’s ninth and 18th-minute goals respectively separating the sides.

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T H I S D AY •MONDAY APRIL 25, 2016

MONDAYSPORTS

NPFL: Kano Pillars Crush 3SC 6-0 to Record Season’s Biggest Win Kano Pillars recorded the biggest win of the Nigeria Professional Football League season yesterday when they thumped visiting Shooting Stars 6-0.

However, Enugu Rangers who defeated Nasarawa United 2-1 earlier on Friday has overtaken FC IfeanyiUbah

at the top of the log on 24 points from 12 matches while Abia United is second on 23 points from same 12 games. IfeanyiUbah who lost 0-3 to Wikki yesterday is third on 22 points from 13 matches while Pillars with 21 points from 12 matches is fourth.

Emmanuel Edmund grabbed a hat-trick with Ifeanyi Matthew,

Adamu Mohammed and Nafiu Ibrahim also getting on the scoreboard.

Ifeanyi Matthew opened scoring for Pillars with a low drive after 11 minutes, before Edmund doubled the lead in the 37th minute.

Edmund grabbed his brace in the 58th minute and completed

his hat-trick in the 82nd minute, before late strikes by Adamu Mohammed and Nafiu Ibrahim.

The heavy defeat has clearly showed up the sharp divisions of Shooting Stars, whose players have not been paid for the past five months.

Elsewhere yesterday, Plateau United struck late to deny

Adamu Mohammed of Kano Pillars (left) up against Adeleye Olamilaken of F.C IfeanyiUbah for ball possession in a previous NPFL game

Rivers United a share of the spoils in an action-filled NPFL game decided in Jos. Plateau won 2-1 with the winner arriving on the stroke of full time.

The hosts took the lead at the Rwang Pam Stadium in the 14th minute through Benjamin Turba following a long throw in from the right.

They could have easily added to their tally in the first half but were denied by impressive defending the visitors until the referee brought the first half to a close.

Rivers United looked a better side after the restart and duly got their reward through Chukwunonso Okonkwo who equalised with a looping header in the 80th minute.

It was his fourth goal in as many matches and gave the visitors renewed belief as they began playing with vigour and poise, while pressing for a late winner.

There was to be late drama in the end as the Rivers United goal keeper, Sunday Rotimi inadvertently diverted yet another long throw into his own net in the 90th minute.

Plateau United Head Coach, Zachary Baraje, was pleased with the win but insists he needs a ‘turning point’ in the form of an away win in the coming days.

“I am praying I get the opportunity to reinforce the team with some mature players.

“If that is done, I do not see this team facing relegation.

“Right now, I need a turning point by getting some points away from home,” Baraje told reporters after the game.

The Rivers United Technical Manager, Stanley Eguma, said his team will now train their sights on their next league game against Enugu Rangers in Port Harcourt on May 1.

“We should have gotten a point or even all three today but we lost it (at the death).

“We must put that behind us now and look ahead to the next game,” he said.

Plateau United move up to 12th on the league standings with 17 points from 13 matches while Rivers United dropped two places on the log to 7th with 19 points from 13 matches.

MATCH DAY 13 Rangers 2-1 Nasarawa El-Kanemi 1-0 Ikorodu Utd Kano Pillars 6-0 Shooting Wikki 3-0 IfeanyiUbah Plateau Utd 2-1 Rivers Utd Heartland 1-0 Sunshine Warri Wolves 2-0 Giwa Abia Warriors 3-1 MFM Lobi 1-0 Tornadoes

Rangers Rekindle Memories of Glory Days Sam Nnaji It is hard to imagine what winning a league title was like three decades ago. Were medals doled out to the winners? Was there a guard of honour? A parade down the streets throughout the city? Perhaps they partied all night and maybe they got a grand reception from the state’s chief executive? Maybe. But evidently those glory days were characterized by battle chants and victory choruses, new fans were converted on a daily basis and the match venues of the league winners were packed full long before kickoff.

Between 1974 and 1984, Rangers International had won six league titles, five FA Cups, an African Cup Winners Cup (now CAF Confederation Cup) title in 1977 amidst regular

appearances on the continent.

Undoubtedly one of the two biggest teams in the country, they regularly supplied playing personnel for the national teams.

The Enugu club had built for themselves a very strong side with a fine rich tradition. That was in the days when some of today’s league heavyweights were still teething, trying to feed on the whatever crumbs the then big boys had leftover, some others had not even been formed.

Strangely, Rangers shockingly went limp in the years that followed and a steady decline set in. The giant was unable to reproduce the performances that characterized the fruitful years. The momentum moved to the likes of Iwuanyanwu Nationale (now Heartland), Julius Berger and more recently Enyimba and Kano Pillars

and the only positive was that somehow they ensured that year after year, a Premier League status was ensured. The younger generation most of whom either never witnessed those conquests or were too young to understand were left to make do with tales and pictures whenever memories were brought to the fore.

But the Nnamdi Azikiwe Stadium, Enugu refreshed memories of what those glory days were like when it hosted over 20,000 fans in Rangers 2-1 win over Nasarawa United in the ground’s first Friday night game. Friday night games have become very popular in the league in recent times but this most recent edition was unprecedented, a perfect setting in all ramifications.

The blazing floodlights announced to fans within its reach that indeed Ogui Road was the ‘happening place’ that moment. The fans

Rangers players celebrating during their rescheduled clash with Nasarawa in Enugu last Friday

heeded the invitation and into the grounds they throng to thousands of others watching, eagerly awaiting kickoff. It seemed everyone in the city was there; fathers, mothers, children, old faces and young ones. The bright neon lights from the new electronic scoreboard adding to the lovely spectacle.

Beyond just a nice Friday evening gathering, this team had wooed Enugu fans with their breathtaking displays since the start of the season. Imama Amapakabo’s boys play what probably is the most scintillating football in the championship.

The deadly quartet of Bobby Clement, Godwin Aguda, Obinna Nwobodo and Chisom Egbuchulam (acronym CANE from their last names) have terrorized defences to calamitous effect so far this season; their movement off and on the ball, the flash of their attacks and their potency in front of goal when it required.

It was not surprising hence when that crowd held its breath in hope and anticipation when Chisom Egbuchulam set out with a trademark run in the third minute toward the Nasarawa goal. Expectedly so from a player who has six goals so far this term. They collectively heaved disappointingly when his strike flew over the target. Unlucky not to be on the scoresheet but his assist handed Rangers the opener. A blur of explosive bursts, he was at the heart of almost everything Rangers created on the night. Beyond a doubt, he looks to have come of age this season, symbolic of his team that had disappointed in the recent past but looks like it means business this time round.

Beyond just watching the

action unfold on the pitch, the fans were having themselves a great time. One group situated around the halfway line and facing the VIP gallery were partying all through. Clad in various attires and with diverse musical instruments, they were playing their drums, lighting up flames, waving the club’s flags while a few others jangled bells.

The rest who ‘unprepared’ for the ensuing carnival quickly joined the party when the opportunity called for it. First was in the 23rd minute when Clement’s firm header from Egbuchulam’s corner-kick broke Nasarawa United’s resistance.

‘Holy, holy holy, holy Enugu Rangers is another champion!’ echoed round the stadium, some were standing, others clinched fists in solidarity.

It was not a select few singing, both old and young were as one, loud in their voices. Next was the circle after circle of Mexican waves that swept through STANDINGS

Team P Rangers 12 Abia Warriors 12 Ifeanyiubah 13 Kano Pillars 12 Lobi Stars 13 Wikki Tourists 12 Rivers Utd 13 Warri Wolves 12 MFM FC 13 Akwa Utd 13 Heartland 12 Plateau Utd 13 El-Kanemi 13 Nasarawa Utd 12 3SC 13 Sunshine 12 Tornadoes 13 Giwa FC 12 Enyimba 8 Ikorodu Utd 13

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

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

and through the galleries in the second half. The joyous expression as each section roared and lifted their arms in unison as it went by meant they were having a time of their life. This was different, this was unique, this was fever pitch excitement, beyond what is common in these regions.

Friday night’s experience epitomizes more than just the goings on at Rangers right now it symbolizes a rejuvenated league itself to a greater extent. Beautiful eye-catching football is back, more and more fans are joining the party, surely the glory days look on its way back.

For Rangers, what had been a whisper is getting louder by the day and although only the bravest of their fans can afford making the assertions at the moment with confidence, the rest of the Premier League pack are taking notice; Rangers look the real deal this season, a 32-year title wait could be over by October.

L 2 1 5 3 4 3 6 3 4 5 5 6 7 7 8 4 7 6 4 9

GF 19 15 15 20 15 15 15 7 14 17 9 14 14 12 13 13 15 11 7 6

GA 12 8 13 12 11 6 14 7 15 13 9 19 18 15 21 12 17 16 7 21

GD 7 7 2 8 4 9 1 0 -1 4 0 -5 -4 -3 -8 1 -2 -5 0 -15

Pts 24 23 22 21 21 19 19 19 19 18 17 17 16 15 15 14 14 14 12 6

62

T H I S D AY •MONDAY APRIL 25, 2016

MONDAYSPORTS

Leicester Closer to EPL Title, Arsenal Held Leicester City need just five points to complete a fairytale Premier League title triumph after Leonardo Ulloa scored twice in a 4-0 home victory over Swansea City yesterday.

With top scorer Jamie Vardy suspended, his stand-in Ulloa stepped up with a brace of goals at the King Power Stadium, either side of goals by Riyad Mahrez and substitute Marc Albrighton.

It lifted Claudio Ranieri’s side eight points clear of second-place Tottenham Hotspur, who host West Bromwich Albion this evening, and means that they can claim the title by winning at Manchester United next Sunday if Spurs fail to beat West Brom.

Leicester’s victory had the added effect of ending the title bids of both third-place Manchester City and fourthplace Arsenal, who were held to a 0-0 draw at struggling Sunderland.

Vardy’s dismissal, after he was shown a second yellow card for diving, had been the chief talking point of Leicester’s 2-2 draw with West Ham United last weekend, which had raised the possibility of nerves getting the better of Ranieri’s miracle men.

But they made an ideal start against Francesco Guidolin’s Swansea as Ashley Williams’s careless clearance struck Mahrez, who calmly stroked his 17th goal of the season past visiting goalkeeper Lukasz Fabianski.

Ulloa made it 2-0 on the half-hour by heading in Danny Drinkwater’s free-kick and killed the game off in the 61st minute when he toed in a cross from Jeff Schlupp, who had sprinted into the box from halfway.

The fourth goal, in the 85th minute, was the work of Leicester’s substitutes, with Demarai Gray sparking the move by sprinting to the byline on the right and sending a cross into the box.

From Andy King’s back-post header, Gray saw a close-range volley parried by Fabianski, but Albrighton followed in to lift

the rebound into the roof of the net.

Leicester’s win definitely sounded the death knell on the title aspirations of Arsene Wenger’s Arsenal, whose goalless stalemate at Sunderland did little to help their push for a top-four finish.

Sunderland left-back Patrick van Aanholt came closest to

breaking the deadlock at the Stadium of Light with a first-half free-kick that hit the post, while both teams had penalty appeals for handball turned down.

Arsenal, for whom Jack Wilshere made his first appearance of the season after recovering from a broken fibula, remain fourth, five points above Manchester United, but having

Stories from Olawale Ajimotokan inAbuja

Leonardo Ulloa (right) celebrating with teammates yesterday

a fulfilment of my decision to come back and play golf and the only way you can show that you are a good golfer is to win a tournament like this. The outcome makes me feel very good and marvellous. I cherish this prize like the trophy presented to me by former Ghana President John Kuffour in Accra in 2006,’’Bassey said.

J. Ahmed won the men division one best net with 70, while Sola Adebayo carded 71 to pick the second position on count-back at the expense of Oludare Bello. Austin Chigbo narrowly edged Tony Azogu to win the men gross prize. He returned 76.

SJ Usoro won the men veteran best net with the score of 83, ahead of both Samuel Anyamele and Sunny Gberevbie, who placed second and third respectively.

Abbo expressed gratitude to members of the club for entrusting him with the position of captain, saying that his committee was able to restore the golf course to world class standard through projects like widening and dredging of the waterways, rebuilding of collapsed

After a three-year legal battle, Justice Bello Abbas of the High Court of Sokoto State discharged and acquitted Chief Umeh. Abbas, in a judgment delivered on February 17, held that the prosecution failed to prove its case against the accused beyond reasonable doubt as required by law.

Umeh, in a statement made available to the media yesterday in Lagos, was full of praise to God for seeing him through the case. He

Port Harcourt Club Golf Section has been declared the host of the third edition of the West Africa Golf Tour from May 12 to May 15.

The Port Harcourt Classic is a 72-hole professional tournament with a cut of 40 players and ties made after 36 holes. The winner will take $8,000 and win 500 points. The total prize purse is $50,000.

The President of the West Africa Tour, Emeka Okatta, said the city was selected because it met all the requirements to host an international tournament of such scope.

Okatta was hopeful that the event will be bigger than the previous editions held in Abuja and Ilara-Mokin in February and March this year.

The Captain of Port Harcourt Club Golf Section, Emmanuel Okene, applauded the decision to stage the tournament in the Garden City. He noted that the club in collaboration with other partners would work to deliver a world-class tournament that the state government and all stakeholders would be proud of.

“Rivers State is excited by this news as this is an opportunity to showcase our golf course to the world. It will also impact on the efforts to develop the game on different platforms as a product that will attract corporate interest and more players,” Okene declared.

Port Harcourt Club which was founded in 1928 plays as a par 70 golf course and is 5,457 meters in length.

The professional field is expected to comprise mainly of golfers from West and Central Africa region. Nigerian players, Oche Odoh and Kingsley Oparaku won the first two editions.

Amateur golfers will similarly be part of the excitement as they will be playing on May 14- 15.

All players are expected to pay the registration fee of N20,000 to be eligible while registration will close two weeks before the event.

The Port Harcourt Classic will be followed by the B & E Match Play from June 22 -26 June 2016 in Abuja. The event also on the West Africa Golf Tour will grant 600 points for the Order of Merit.

The Professionals will play from June 23-26, while the amateur hold their event on June 25-26.

Focus Shifts to Okpekpe after London Marathon

Outgoing Captain of IBB Golf Club, Hamid Abbo (left) watching as a guest presents trophy to winner of the Captain’s Cup Tournament, Oqua Bassey, (middle) in Abuja last weekend perimetre fence, new walkways, new locker rooms and a new viewing pavilion at the upper terrace.

It was a huge turnout of golfers nationwide, corporate sponsors and well wishers in solidarity with Abbo for the manner he spearheaded the committee in the last one year.

The Lady Captain, Mrs Adekunbi Usman, who had also served out, described her tenure as challenging

and not easy because of the constraints of having to run section virtually alone including every plan for all events.

Usman, who served the lady section in the past as competition secretary in 2007, secretary and handicap secretary, said that she would now have enough time to improve on her handicap which had remained static on 16 since last year.

Former NFF Board Member, Umeh off EFCC Hook Former Nigeria Football Federation (NFF) board member, Chief Mike Umeh, is right now on cloud nine, thanks to the dismissal of a N300 million fraud charge preferred against him by the Economic and Financial Crimes Commission (EFCC) in 2013.

The anti-graft body had dragged the football buff to court for alleged fraudulent receipt of N300 million belonging to Sokoto State government.

Sunderland, who climbed out of the relegation zone on goal difference at the expense of Norwich City.

“With four games to go it is in our hands now,” said Allardyce, whose side had won 3-0 at Norwich in their previous game.

“Our performances are good – excellent last week and very good today. Hopefully we can get enough points to stay out of trouble.”

Port Harcourt Named West Africa Golf Tour Host

Bassey Nets IBB Captain’s Cup as Abbo Bows Out Oqua Bassey made a decision to stay dedicated to golf and it paid off when he hugged the limelight as the overall winner of the 2016 IBB Captain’s Cup in Abuja.

The former Cross River State Commissioner for Special Project shot 67 net to emerge as one of the several category winners at the valedictory tournament for captain of IBB International Golf and Country Club, Hamid Abbo at the weekend.

Two months ago, Bassey, a division two golfer with 19 handicaps, refocused on the game after political engagements took him away from the golf course.

The 59-year-old veteran, with trophies from past editions of PWD Tournament, Patrons’ Cup, Captain’s Cup plus the auxiliary prize of Nearest to the Pin during Ghana’s Independence match in 2006, described his win as dream come true.

“Golf is a very jealous game, you stay out of it stays out of you and when you come back, you need lot of concentration, commitment and dedication. I feel very good because it’s

played a game more.

“We created less, but could still have scored. We should have been in front in the first half,” Arsenal manager Wenger told the BBC. “It leaves us having to win the next game, as always. We fight against teams who fight not to go down, so we prepare to fight again next Saturday.”

The point was of much greater use to Sam Allardyce’s

also thanked the judiciary for a job well done.

“I thank God that I have been discharged and acquitted. God knows that my hands are clean and that I am innocent. I thank the judiciary for giving me justice. I also want to thank my family members and friends who stood by me with their prayers in the last three years,”Umeh stated.

Umeh stressed that as a businessman, he has never involved

himself in any illegal activity. He added that he would continue to work for the unity and progress of the country.

He was quick to add that he would also continue to contribute his quota to the development of Nigerian football.

Umeh, it would be recalled, was also a former team manager of the then Green Eagles in the days of Dutch coach, Clemens Westerhof.

With the 35th Virgin Money London Marathon in the books, the world focus now shifts to the Okpekpe International 10km Road Race as the next in the calendar of International Association of Athletics Federations (IAAF) label races.

The event, the only IAAF bronze label race in Africa for 2016 has attracted a strong field of elite athletes racing for the $15,000 top prize money on offer for the respective male and female winners.

Spokesman for the race Dare Esan is delighted Nigeria, through the Okpekpe race is now attracting the attention of the world.

“I am delighted to be a Nigerian and delighted to be involved in this race which has placed Okpekpe in particular and Nigeria in general in the consciousness of the whole world, especially the athletics community,”said Esan who is convinced a better view of Nigeria has been engendered by the race.

“Many race fans across the world yesterday saw how Eliud Kipchoge of Kenya produced an awe-inspiring marathon performance to defend hisVirgin Money London Marathon title in 2:03:04, just seven seconds off his countryman Dennis Kimetto’s world record.

“After the event, the 35th in the calendar of IAAF label road races in 2016, attention is now on the 36th race, the Okpekpe

International 10km Road Race.

“Like London, the Okpekpe race is bound to be fiercely contested too going by the quality of elite athletes our international Elite Athletes Manager, Walter Abmayr, has assembled for the race,” adds Esan.

“At the last count we have as many as five women who are of gold level running rating and four who are of silver level running ratings for a bronze label event while for the men as many as three gold level running athletes have been confirmed while there are as many as eight silver level running athletes. These are requirements for either a gold or silver label race but because we want a truly competitive event, we decided to go for the very best.

“In fact, one the female athlete confirmed for the race, Kenya’s Edith Chelimo is the third fastest (31:07) 10km runner in the world so far this year while for the men, Edwin Kiprop Kiptoo is in the list of the top 15 best performers so far this year. This is an indication of how explosive the race will be on May 7,” Esan declared.

The Okpekpe International 10km Road Race is organised by Pamodzi Sports Marketing in conjunction with the Athletics Federation of Nigeria. This year’s edition, the fourth in the series, will hold in Okpekpe in Edo State, Nigeria next month.

T H I S D AY MONDAY APRIL 25, 2016

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Price: N250

MISSILE Osinbajo to Public Officers “Anybody who can’t explain his wealth must be brought to account. Everyone who has served in public office must account for what they own. This is the change we want Nigerians to support” –Vice-President Yemi Osinbajo insisting that public officers would now be made to account for their wealth as part of the anti-corruption campaign of the Muhammadu Buhari administration.

ALEXOTTI Chop Your Money A OUTSIDE THE BOX

lot of us listen and enjoy Nigerian music. This is one area we have done very well and our boys and girls keep improving by the day. We have even exported our music and movies to the rest of the world, even though one is not sure we have organised it to maximise foreign exchange earnings therefrom. Those familiar with P Square’s “Chop My Money” will notice that I modified it a bit to “Chop Your Money”. I did that for three reasons. One, I don’t have a lot of it, so “I get am plenty” won’t apply here. Flowing from the first reason, I really care about how I spend mine, so the “I don’t care” line will not fit. Finally, I do not want to end up the way the artist ended in the movie where the one he invited to “chop” his money, after shopping with his credit card, followed someone else home, leaving him shocked with his two hands on his head.

Today, we are not talking about music. We are talking about money and trying to understand when and how to save it and when and how to “chop” (spend) it.

Recently, the former Coordinating Minister for the Economy and Minister of Finance, the very brilliant Dr. Ngozi Okonjo-Iweala, confirmed what a lot of people had thought was a big problem with the immediate past administration. Speaking on the topic, “Inequality, growth and resilience” at the George Washington University, Dr. Okonjo-Iweala had this to say: “This time around, and this is the key now, you need not only to have the instrument, but you also need the political will. In my second time as a finance minister, from 2011 to 2015, we had the instrument, we had the means, we had done it before, but had zero political will.

“So, we were not able to save when we should have. That is why you find that Nigeria is now in the situation it is in...”

She further stated that during the Olusegun Obasanjo regime, we were able to save some $22 billion which was drawn on to issue fiscal stimulus when the 2008/2009 global meltdown hit us. We therefore had enough buffer to withstand the crisis.

In her own words: “we saved $22 billion because the political will to do it was there”.

She concluded by calling on the World Bank and IMF to think of ways to include savings in national constitutions devoid of political manipulations. Of course, I am sure she knows that this cannot work.

How do you legislate to an independent country on savings? How do you ensure compliance, when some countries implement the laws they voluntarily made for themselves in breach, how much less the one imposed on them by an external party? She also knows that the only way the Bretton Woods financial institutions can give conditions to any country is if the country is accessing loans from them. Most countries just like Nigeria are now reluctant to borrow from IMF and World Bank.

Before we could finish digesting this, her media adviser, Paul Nwabuikwu, issued a revisionist amendment to the earlier statement, insisting that some sections of the media had given a mischievous slant to her comment to the effect that she was referring to the former president of not having the political will to save. He went further to clarify that it was actually the governors that stopped the former president from saving. This rebuttal was obviously a reaction to the outbursts pro-Jonathan attackers on the social media who vented their spleen on Okonjo-Iweala for daring to blame Goodluck Jonathan for not saving during the oil boom. While it is not our intention to join issues with Nwabuikwu, it is pertinent to remind him that what he had done is to give us reasons for Jonathan’s actions or inactions on this subject without successfully deflecting the responsibility because we all know where the buck stops. A few

alex.otti@thisdaylive.com

more questions are in order. If the governors refused to allow their portion of the funds to be saved by the federal government, did they stop the federal government from saving its own portion given that we are aware that the federal government gets close to 60 per cent of federal allocation? If by law, you jointly own some money with someone, is it appropriate that at the point of sharing the money, one of the owners unilaterally decides to keep some for saving under his control when you may choose to use it to do something else? With what we now know about how our money was spent, would anyone still vilify those who refused to have theirs saved by the centre?

Whenever someone talks about savings, there is this natural response that gives the impression that it is always good for the beneficiary’s future and wellbeing. The society tends to deride and condemn someone who though is in a position to save failed to save, as a total failure. In fact, such people are called all sorts of names: irresponsible, wayward, profligate, ostentatious, shortsighted etc.

Meanwhile, no one wants to understand the rational for his action. I remember growing up with my siblings and one advice our father repeated so often was that what makes one wealthy was not how much one earned, but how much one saved. So, we need to interrogate the concept of saving versus consumption to find out if the latter is necessarily a virtue while the other is a vice. Doing this will help us put in proper perspective, the comment that Okonjo-Iweala made.

Saving simply means that part of income that is not consumed or spent and is kept away mostly in banks for the future. In a perfect system, this should also be the same with investment, subject to taxation. There is quite some literature on savings and consumption starting with John Maynard Keynes to Paul Samuelson and I will encourage those interested to do more extensive work on this.

But suffice it to say that the reason banks make money is that there is someone out there who does not know what to do with his money to earn him higher returns. He approaches a bank which in the medieval times, charge him for safe keeping of the money and then finds out someone who it believes has a viable idea of what to do with the money. At the end of the day, the money is returned with a service charge or interest which in turn is given back to the original owner on demand with a little portion of the interest paid by the user. In between may be a complex web of risk and liquidity management issues.

So the first argument to make is that you do not need to save when you are sure of what to do with your money. If I can do what the banks can do or better still what the borrower of the savings from the bank can do, why do I need to leave the money in the bank or why do I need the intermediary. After all, “in business it pays to cut off the middleman” remember the old Airbus advert.

The argument about savings and consumption remains unresolved in economics. Some scholars argue that consumption is the engine that drives economic growth because in most economies around the world, consumption makes up between 65 per cent and 70 per cent of GDP. This position has been given impetus by the fact that the economy is about value addition and productivity and whatever is produced has to be consumed for it to make it to GDP calculation. Some people have tried to separate final consumer goods spending from investment spending to support the debate on this subject.

But we intend to keep the divide between saving and consumption simple.

We are not oblivious of the other position that savings and investment which make increased productivity possible and for greater specialisation and trade are the actual engines of growth. This

school of thought finally recognises consumption and concludes that increasing consumption is a result of that growth and not the cause. Irrespective of whichever divide you find yourself, I must bring in the American Economist and 2001 Nobel laurate, Prof Joseph Eugene Stiglitz, who says that most economies are unable to maximise their potential because of inequality whereby too much income is concentrated amongst too few rich people who tend to save larger share of their income and thus have a lower propensity to consume.

In the case of Nigeria, I believe that there was actually no reason to save. I don’t think we had the luxury for a whole lot of reasons. Savings were always in foreign currency which exposes us to both the currency risk and political risk of the country in whose currency we were going to save. We can see this in the fluctuation of the euro, sterling and dollar. You can lose up to quarter of the value of your savings in the event of a serious meltdown like the one we witnessed between 2008 and 2009 where we had $22 billion in savings.

I’m sure the world was in so much turmoil that we didn’t stop to check the value of the money compared to when we saved it.

Another factor that affects the saving decision is interest rate. It is instructive to differentiate nominal from real interest rates. Nominal rate has to do with absolute numbers while real interest rate is inflation-adjusted. If for instance dollar interest rate is somewhere around 2 per cent pa as it is today and inflation is 10 per cent then the saver is losing 8 per cent of income. This is because your money with the interest can only buy you about 90 per cent of what it would have bought you the previous year. So, you are better spending that money today.

For us in Nigeria, our case is even more pathetic.

We are being encouraged to save money when most of our structures have failed. How can we have money in the bank when we cannot refine

our petroleum products locally? How much would it cost to fix the refineries and build new ones? And no one should sell the garbage of private sector here as we are aware that licences issued as far back as 2000 to some private refinery operators have not seen the light of the day. How much have we invested in the power sector and how come we do not have power? I’m aware that even with the self-sufficiency of power in developed countries, once an investor indicates intention to go into power generation, the government puts its balance sheet behind the project.

How about job creation and industrialisation? Is it not government’s responsibility to drive these?

Someone would be quick to say it is not the job of government and I will refer the person to history of industrialised economies. Government showed the way and the people followed. Should we rather leave our money in the bank and ply dangerous and terrible roads as is the case in most parts of the country? How much would it cost to fix majority of our roads? Can we compare that with the benefits?

How come our rails had not been used in 20 years?

How come we failed to maintain the ones built by the colonial masters even if we couldn’t build new ones? Thank God we are looking at rails now, but I must use this opportunity to call on all concerned to ensure that we are not building the outdated and slow narrow gauge rails in 2016. The acceptable minimum should be the standard gauge. We can continue to wait if we are unable to finance it. Still on what to do with our money than leave it in a savings account in JP Morgan Chase, we need to invest in our waterways, Education, healthcare delivery and security. Until we have sorted out ourselves in these areas to guarantee minimum standards in quality of living, any savings we are making is simply meaningless. It can be likened to a man who puts all his earnings in the bank while his whole family is being ravaged by hunger and deprivation.

LOSING THE PLOT COMING FROM THE AIRPORT, I WONDER WHAT WENT THROUGH THE MINDS OF THE PRESIDENT AND HIS MINISTERS AS THEY DROVE PAST LONG LINES OF DESPONDENT NIGERIANS AT PETROL STATIONS…!

QUINTESSENTIAL DISPLAY OF HELPLESSNESS!

THEY WERE HOPING THAT FOREIGNERS COMING FROM THE AIRPORT AFTER THEM WILL SEE IT TOO, FEEL SYMPATHY AND COME TO THE RESCUE!

YEAH! AND AS LUCK WOULD HAVE IT, A VISITING US AMBASSADOR TO THE UN COMING FROM THE AIRPORT SAW IT, FELT FOR THE PEOPLE AND OFFERED TO COUNSEL THE HELPLESS GOVERNMENT!

25-04-16

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