Thursday 12th May 2016

Cameron Makes U-turn, Praises Nigeria’s Fight Against Corruption Apology? No thanks, we need our money back, says Buhari British papers accuse PM of hypocrisy, president says oil firms are complicit in oil theft Tobi Soniyi British Prime Minister David Cameron yesterday attempted to reverse his unguarded remark about Nigeria and

Afghanistan, two countries which on Tuesday, he, described as “fantastically

corrupt”, when he was briefing Queen Elizabeth II on the ongoing anti-corruption

summit being hosted by the United Kingdom.

While briefing Members of

Parliament (MP) in the House of Commons yesterday, the British PM said Nigeria

Confusion over Ownership of Houses Allegedly Bought by Saraki.… Page 9

and Afghanistan had taken “remarkable steps forward” on corruption, reported the BBC. Continued on page 6

Thursday 12 May, 2016 Vol 21. No 7686. Price: N250

www.thisdaylive.com TR

UT H

& RE A S O

N

After Trillions Spent on Corrupt Fuel Subsidies, FG Finally Bites the Bullet IPMAN, MAN, LCCI back move as labour kicks Depots suspend loading of petrol Our Correspondents After the trillions of naira spent by successive administrations sustaining the corrupt and hugely inefficient fuel subsidy regime, yesterday the Muhammadu

Buhari administration finally summoned up the courage to remove the subsidy on petrol, stating that it would now sell for not more than N145 a litre.

Continued on page 8

TWELVE REASONS WHY DECISION IS RIGHT 01

02

03

04

05 06

Trillions of naira have been spent by successive administrations sustaining a corrupt, largely abused regime that has ended up in private pockets, creating overnight billionaires who continue to walk free Petrol subsidies over the years have caused supply disruptions and engendered inefficiencies in their management Under the current low oil price environment, dwindling oil revenue and shortage of foreign exchange, deregulation would partly reduce the pressure on the naira and foreign reserves With deregulation, importers of petrol can source for their dollar requirements from autonomous sources, which would ease pressure on the naira and foreign reserves Diversion of products will be minimised, as there will be no incentives for marketers to divert petrol to markets where they are guaranteed higher prices The removal of subsidies will attract critically needed private sector investment in the downstream oil sector and lead to the construction of new refineries Continued on page 8

Shell Declares Force Majeure on Bonny UBA VISITS UGANDA L-R: Group Chairman, United Bank for Africa Plc, Mr. Tony Elumelu; Ugandan President, Yoweri Museveni; and Chairman, Uganda, Dr. Eric Adriko, after the meeting to discuss UBA’s support for infrastructure development initiatives, at the Light Exports over Pipeline Leak… Page 9 UBA presidential palace in Entebbe, Uganda… Tuesday

2

THURSDAY MAY 12, 2016 T H I S D AY

T H I S D AY THURSDAY MAY 12, 2016

3

4

THURSDAY MAY 12, 2016 T H I S D AY

T H I S D AY THURSDAY MAY 12, 2016

5

6

THURSDAY, may 12, 2016 • T H I S D AY

PAGE SIX CAMERON MAKES U-TURN, PRAISES NIGERIA’S FIGHT AGAINST CORRUPTION The PM said the countries’ leaders were “battling hard” to tackle the problem.

His attempt at a mea culpa came after Buhari, who arrived London on Tuesday evening for the summit, said Cameron’s gaffe was not reflective of his administration’s fight against corruption.

However, when asked yesterday by journalists at the pre-anti-corruption conference in London if Nigeria was “fantastically corrupt”, Buhari candidly replied, “Yes”, adding that corruption in Nigeria was endemic, but his government was committed to fighting it.

He went on to state that he was not going to demand an apology from Britain or Cameron, making it abundantly clear that he was more interested in the return of Nigeria’s assets held in British banks.

“I am not going to be demanding any apology from anybody. What I will be demanding is the return of assets. I have already mentioned how Britain led and how disgraceful one of Nigeria’s executives (former Bayelsa Governor, the late Diepreye Alamieyeseigha) was. He had to dress like a woman to leave Britain and left behind his bank account and fixed assets which Britain is not prepared to hand over to us.

“This is what I am asking for. What will I do with an apology? I need something tangible,” he said.

Also in an interview with CNN’s Christiane Amanpour yesterday, Buhari refused to be defensive over Cameron’s statement, saying: “Well he said what he knows about both countries. He did not say what he said to the press, it was a private conversation.”

In its reaction, the Afghan embassy in London said tackling corruption was one of President Ashraf Ghani’s top priorities and “bold” action had been taken.

“We have made important progress in fighting systematic corruption in major national procurement contracts and are making progress on addressing institutional issues as well as issues related to impunity... therefore calling Afghanistan in that way is unfair,” the embassy said.

According to the BBC, Cameron was asked about his comments on Nigeria and Afghanistan during Prime Minister’s Questions in the House of Commons, where he jokingly checked if his microphone was working, refering to “tips on diplomacy” and said he had made “many unforced errors” in the past 24 hours.

Answering a question from Tory backbencher Philip Davies, who asked why UK aid was being given to countries that the PM sees as corrupt, in his reply, Cameron praised the action taken by Afghanistan and Nigeria and warned that cutting off aid could “come back to haunt us here”.

He also defended the action by his own government, including initiatives on overseas tax havens and measures to make sure “plundered money from African countries can’t be hidden in London”.

In the footage showing Cameron’s comments on Tuesday, the Archbishop of Canterbury Justin Welby

BUHARI STEALS THE SHOW IN LONDON

R-L: Secretary General of the Commonwealth, Rt. Hon. Patricia Scotland (QC); President Muhammadu Buhari; Secretary of State, UK Department for International Development (DFID) Mr. Jusne Greening (MP); and Chairman, Mo Ibrahim Foundation, Mr. Mo Ibrahim, shortly after Buhari delivered his keynote address at the Commonwealth Anti-corruption Conference for Civil Society, Business and Government Leaders, in London… yesterday intervened to say: “But this particular president is not corrupt... he’s trying very hard,” before Speaker John Bercow said: “They are coming at their own expense, one assumes?”

Earlier, Foreign Secretary Philip Hammond said the PM had been “merely stating a fact” in his comments, and ex-London mayor Boris Johnson said people would “find it refreshing he was speaking his mind”.

Downing Street said the presidents of Nigeria and Afghanistan had “acknowledged the scale of the corruption challenge they face in their countries”.

But Labour MPs said a Tory government “hosting an anticorruption summit was like putting the fox in charge of the chicken coop”.

“The government is refusing to take meaningful action to close Britain's constellation of tax havens, which together constitute the largest financial secrecy network in the world,” said Shadow International Development Secretary Diane Abbott.

Similarly, British papers — The Guardian and Telegraph — accused Cameron, Britain and the west of hypocrisy.

“They have spent decades ordering poor countries and failed states to sort out their problems with dodgy money, even while taking much of that dodgy money and ploughing it through their banks, their ritzy stores, their estate agents, and their offshore tax havens,” The Guardian wrote in its editorial yesterday.

In an Op-ed piece in the Telegraph written by David Davis and Jo Cox, the authors said: “The Panama Papers have shifted the focus of corruption far up the supply chain, to the people who make corruption possible – and those people are often rather closer to home.

“But careful readers of the Panama Papers will notice an important fact that should have given Cameron pause for thought before he made his comments to the Queen.

More than half of the companies named in law firm Mossack Fonseca files are incorporated in Britain's own tax havens. In fact, a full 50 per cent of the

companies are from the British Virgin Islands.

“The Prime Minister knows this. Look at what he said just a few months ago: ‘Some of the British Crown Dependences and Overseas Territories are making progress […]. Others, frankly, are not moving anywhere near fast enough. […] If we want to break the business model of stealing money and hiding it in places where it can’t be seen, transparency is the answer’.”

Transparency International had also acknowledged that the UK’s record was mixed and concrete action was needed on tax evasion and secrecy in the wake of the Panama Papers' disclosures, stopping tainted firms from bidding for public contracts and protecting whistleblowers who expose corruption.

Asked whether the PM knew his remarks to the Queen were being recorded, Downing Street said: “The cameras are very close to him, there are multiple cameras in the room.”

At a garden party later on Tuesday, the Queen herself was filmed on camera making comments about the Chinese government.

She told a senior police officer that she had heard the Chinese had been very rude to Britain’s ambassador to China during President Xi Jinping’s state visit last year.

Meanwhile, Buhari, at a pre-summit forum yesterday in London, gave his commitment to applying the rule of law and to respecting human rights in the fight against corruption.

The president, in a speech he made at a Commonwealth event titled, “Tackling Corruption Together: A Conference for Civil Society, Business and Government Leaders”, said he had also instructed security agencies to respect human rights while carrying out their duties.

He said: “I am not unaware of the challenges of fighting corruption in a manner consistent with respect for human rights and the rule of law. As a country that came out of prolonged military rule only 16 years ago, it will clearly take time to change the mentality and psychology of law enforcement officers.

“I am committed to applying the rule of law and to respecting human rights. I also require our security agencies to do the same.”

Ostensibly referring to the prolonged detention of the former National Security Adviser (NSA), Col. Sambo Dasuki, and the leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu, who had both been granted bail by courts of competent jurisdictions, Buhari however admitted that in a few cases “stringent rules” had been applied as a result of threats to national security and the likelihood that certain persons might escape from the country or seek to undermine the stability of Nigeria.

The president consequently sought the support of many countries for the prosecution of certain individuals residing in their jurisdictions.

He said: “Of course, we will provide the necessary legal documents and whatever mutual assistance is required to secure the conviction of such individuals, as well as facilitate the repatriation of our stolen assets.”

Buhari further observed that he had since discovered that the repatriation of corrupt proceeds was very tedious, time consuming, costly and entailed more than just the signing of bilateral or multilateral agreements.

He said: “This should not be the case as there are provisions in the appropriate United Nations Convention that require countries to return assets to countries from where it is proven that they were illegitimately acquired.”

Buhari added that Nigeria was disposed to forging strategic partnerships with governments, civil society organisations, the organised private sector and international organisations to combat corruption.

“Our sad national experience had been that domestic perpetrators of corrupt practices often worked hand-in-hand with international criminal cartels,” he said.

According to him, stolen public funds were often transferred abroad into secret accounts.

He therefore called for the establishment of an international anti-corruption infrastructure that will monitor, trace and facilitate the return of such assets to their countries of origin.

He further stressed that the repatriation of identified stolen funds should be done without delay or preconditions.

Buhari also told the gathering that apart from looting of public funds, Nigeria was also confronted with illegal activities in the oil sector.

He said: “That this industry has been enmeshed in corruption with the participation of the staff of some of the oil companies is well established.

Their participation enabled oil theft to take place on a massive scale.”

He cited a report released by Chatham House in London in 2013, titled “Nigeria’s Criminal Crude: International Options to Combat the Export of Stolen Oil”.

According to him, the findings of the Chatham House document were “illuminating and troubling”.

Part of the Report, he told the gathering, concluded that: “a) Nigerian crude oil is being stolen on an industrial scale and exported, with the proceeds laundered through world financial centres by transnational organised criminals. “b) Oil theft is a specie of organised crime that is almost totally off the international community’s radar, as Nigeria’s trade and diplomatic partners have taken no real action. “c) Nigeria cannot stop the trade single-handedly, and there is limited value in countries going it alone.”

Buhari then said that the menace of oil theft in Nigeria, put at over 150,000 barrels per day, was a criminal enterprise involving internal and external perpetrators.

“Illicit oil cargoes and their proceeds move across international borders. Opaque and murky as these illegal transactions may be, they are certainly traceable and can be acted upon, if all governments show the required political will.

“This will has been the missing link in the international efforts hitherto. Now in

London, we can turn a new page by creating a multistate and multi-stakeholder partnership to address this menace,” he said.

Buhari also called on the international community to designate oil theft as an international crime similar to the trade in “blood diamonds”, saying it constituted an imminent and credible threat to the economy and stability of oil-producing countries like Nigeria.

To stem the tide, the president advocated an agreement on a rules-based architecture to combat corruption in all its forms and manifestations.

He said the anti-corruption crusade should be a shared agenda for civil society, businesses and governments requiring commitment from companies, creating a space for civil society and governments providing support for whistle-blowers, adding that governments must demonstrate unquestionable political will and commitment to the fight against corruption.

According to him, “The private sector must come clean and be transparent, and civil society, while keeping a watch on all stakeholders, must act and report with a sense of responsibility and objectivity.”

He said Nigeria was committed to signing the Open Government Partnership initiatives alongside Cameron during the summit today.

TOP GAINERS NGN NGN TIGERBRANDS 0.46 5.05 LIVESTOCKFEEDS 0.04 0.84 CHAMPBREW 0.14 2.95 DIAMONDBANK 0.08 1.69 UNIONDICON 0.61 12.89 TOP LOSERS NGN NGN WEMABANK 0.07 0.73 CAVERTON 0.13 1.38 JOHNHOLT 0.04 0.76 UPL 0.27 5.15 FLOURMILLS 1.23 23.76 HPE Nestle Nig Plc ₦690.00 Volume: 198.459 million shares Value: N1.600 billion Deals: 3,538 As at yesterday 11/05/16 See details on Page 54

% 10.0 5.0 4.9 4.9 4.9 % 8.7 8.6 5.0 4.9 4.9

T H I S D AY THURSDAY MAY 12, 2016

7

8

THURSDAY, may 12, 2016 • T H I S D AY

PAGE EIGHT AFTER TRILLIONS SPENT ON CORRUPT FUEL SUBSIDIES, FG FINALLY BITES THE BULLET However, despite its best efforts to get the buy-in of the major labour unions, which for decades had thwarted the attempts by previous administrations to remove the subsidy on petrol, the Nigeria Labour Congress (NLC) warned that it would resist any attempt to “foist or force the increase on Nigerians”.

The government, nonetheless, got the support of the Manufacturers Association of Nigeria (MAN), Lagos Chamber of Commerce and Industry (LCCI) and Independent Petroleum Marketers Association of Nigeria (IPMAN), who all backed the decision, saying it was inevitable under the current economic climate.

Announcing the decision to increase the price of petrol yesterday, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, who briefed State House correspondents, said: “We have just finished a meeting of various stakeholders presided over by His Excellency, the Vice-President of the Federal Republic of Nigeria.

“The meeting had in attendance the leadership of the Senate, House of Representatives, the governors’ forum, and labour unions (NLC, TUC, NUPENG and PENGASSAN).”

He said the meeting reviewed the current fuel scarcity, supply difficulties in the country, and the exorbitant prices paid by Nigerians for the product.

“These prices range on average from N150 to N250 per litre currently,” he said.

Kachikwu revealed that the meeting also noted that the main reason for the current problem was the inability of importers of petroleum products to source foreign exchange at the official rate due to the massive decline of foreign exchange earnings resulting from low oil prices.

“As a result, private marketers have been unable to meet their approximate 50 per cent portion of total national supply of petrol.

“Following a detailed presentation by the Honourable Minister of State for Petroleum Resources, it has now become obvious that the only option and course of action now open to the government is to take the following decisions: “In order to increase and stabilise the supply of the product, any Nigerian entity is now free to import the product, subject to existing quality specifications and other guidelines issued by the regulatory agencies.

“All oil marketers will be allowed to import petrol on the basis of forex procured from secondary sources and accordingly, the PPPRA (Petroleum Products Pricing Regulatory Agency) template will reflect this in the pricing of the product.

“Pursuant to this, PPPRA has informed me that it will be announcing a new price band effective today, 11th May, 2016 and that the new price for petrol will not be above N145 per litre.

“We expect that this new policy will lead to improved supply and competition and eventually drive down pump prices, as we have experienced with diesel.

“In addition, this will also lead to increased product availability and encourage investments in refineries and other parts of the downstream sector.

“It will also prevent diversion of petroleum products and set

a stable environment for the downstream sector in Nigeria,” he said.

Kachikwu also said that the government shares the pains of Nigerians, adding: “But as we have constantly said, the inherited difficulties of the past and the challenges of the current times imply that we must take difficult decisions on these sorts of critical national issues.

“Along with this decision, the federal government has in the 2016 budget made an unprecedented social protection provision to cushion the current challenges.

“We believe in the long term, that improved supply and competition will drive down prices.

“The DPR and PPPRA have been mandated to ensure strict regulatory compliance including dealing decisively with anyone involved in hoarding petroleum products.”

PPPRA Announces New Price After Kachikwu’s briefing, the PPPRA later yesterday confirmed the new pump price for petrol, saying that in the new pricing template, which it reviewed, fuel stations in the country would now sell the product at a maximum of N145 per litre.

The new pump price is N58.50 higher than the previous price of N86.50 per litre, PPPRA said, noting that the downstream sector was still under the government’s price modulation policy and not deregulated.

It also indicated that there was no subsidy for the importation of petrol, adding that the price would reflect extant market realities.

PPPRA also stated that petrol marketers would henceforth be allowed to independently source foreign exchange to import products into the country, and advised retail stations owned by the Nigerian National Petroleum Corporation (NNPC) to sell at pump prices below N145 per litre.

In the statement from PPPRA, signed by its acting Executive Secretary, Mrs. Sotonye Iyoyo, it said: “Statutorily enshrined in the PPPRA Act No 8, 2003, is the responsibility to moderate pricing for the industry. In performing this role, the PPPRA commenced a petroleum products price modulation framework on the 1st of January, 2016, with the aim of ensuring a ‘fit-for-all’ approach that seeks to serve the interest of the Nigerian consumers, marketers and the economy.

“In furtherance of its mandate to ensure the efficient supply and distribution of petroleum products, the PPPRA hereby announces, effective immediately that the new price band for petrol shall be at a maximum of N145/litre. However, NNPC retail stations on the outskirts of major cities are advised to sell at price lower than N145/litre.”

Giving reasons for the price review, PPPRA said: “This review became imperative in the face of extreme difficulties faced by petroleum product importers in sourcing foreign exchange.

“To meet the consumption demand of the nation, importers will henceforth be permitted to source their foreign exchange requirements from the secondary sources.”

Like the minister, PPPRA said it was conscious of the difficulties Nigerians had been going through

As greenfield refineries come on stream in the medium to long-term and NNPC partly privatises its plants under whatever arrangement it chooses to call it, 07 Africa’s largest oil producer would transit from an importer of products to a net exporter of products and end the export of jobs to other jurisdictions The end of subsidies will end crude oil swaps and 08 other opaque trading arrangements that have cost Nigeria billions Savings made by government will be used to develop critical infrastructure that would create jobs, and funds redeployed to subsidise productive 09 sectors of the economy such as agriculture, textile manufacturing and SMEs (wise countries subsidise production, not consumption) With deregulation and the attendant competition, 10 marketers and NNPC will be forced to adopt best practices in order to remain in business Competition will also guarantee that prices will inevitably stabilise and drop over time; US shale oil and new oil discoveries in other parts of the world 11 mean that oil prices are unlikely to ever rise to $100 a barrel, which has a knock-on effect on the price of refined products Realistically, the official pump price of petrol has largely been enjoyed by dwellers in major cities in the 12 country. In the hinterland, where up to 60 per cent of Nigerians still reside, petrol, when it is available, is normally sold way above the regulated price in the last few months “and to ameliorate this situation, we shall continue to modulate pricing in accordance with prevailing market dynamics, thereby ensuring fair value to all citizens”.

It was also gathered that the template would be reviewed on a monthly basis as against the quarterly basis, which was what obtained in the past.

Labour to Resist Deregulation However, NLC has vowed to resist the removal of the subsidy regime. Its Secretary General, Dr. Peter Ozo-Eson, in a statement yesterday said that the increase was disingenuous and smacked of high handedness on the part of government.

Distancing itself from the decision, it added: “The unilateral increase in the price of petrol today (yesterday) by government represents the height of insensitivity and impunity and shall be resisted by the Nigeria Labour Congress and its civil society allies.

“With the imposition on the citizenry of the criminal and unjustifiable electricity tariff hikes and the resultant darkness and other economic challenges brought on by the devaluation of the naira and spiraling inflation, the least one had expected at this point in time was another policy measure that would further make life more miserable for the ordinary Nigerians.”

Ozo-Eson described the increase as the most audacious and cruel in the history of product price increase as it represented not only an 80 per cent hike, but was tied to the parallel market exchange rate.

“Furthermore, the process through which government arrived at this is both illogical and illegal as the board of the PPPRA was not duly constituted.

“In our previous statements and communiques, we had stressed the need for reconstituting the boards of NNPC and PPPRA and wean both away from the overbearing influence of the Minister of State for Petroleum Resources who has assumed the role of a sole administrator.

“The allusion to the fact that this increase was arrived at after due consultation with stakeholders is not only ridiculous and fallacious, it goes to show that the brief meeting held today during which government was advised to shelve the idea until at least it meets with the appropriate organs of the congress was in bad faith,” he said.

NLC demanded that the government must reverse the price of petrol to its previous price, stating: “We would want to put everybody on notice that we shall resist this criminal increase with every means legitimate.

“Already an emergency NEC meeting has been scheduled for Friday, May 13, 2016 to decide on the next line of action.

Meanwhile, our affiliates, state councils and civil society allies are requested to commence mobilisation immediately.”

NLC sources informed THISDAY that even though it was informed by the government at yesterday’s meeting with Osinbajo and others on the plan to remove the subsidy on petrol, it was yet to respond to the overtures seeking its support for the new policy.

Also, Ozo-Eson told THISDAY that labour leaders were invited to a meeting at the State House, but the letter did not specify what the meeting was all about.

“Of course, we received a letter from the Office of the Vice-President for a meeting.

We attended the meeting and a presentation was made by the Minister of State for Petroleum Resources, Dr Ibe Kachikwu.

“We listened to the presentation, but said that we have to reach other organs of NLC, as it is our organs that will decide what direction we will take,” Ozo-Eson said.

Asked if labour endorsed any of the proposals put forward by government, the NLC secretary general said: Of course not, we are yet to respond to the overtures and presentation. We have to critically look at every item.”

The NLC chief scribe maintained that before any decision was arrived at, the people’s interest must be paramount, and that labour

would not rush into any agreement with government on deregulation and petrol pump price hike.

IPMAN, MAN, LCCI Back Policy Labour’s position, notwithstanding, IPMAN, MAN and LCCI backed the federal government on its decision to end the subsidy regime on petrol, stating that it was long overdue and had become inevitable under the prevalent economic climate.

The Vice-President of IPMAN, Alhaji Abubakar Maigandi, said yesterday in Abuja that the decision would help to end the persistent petrol scarcity in the country.

“This is a good development; the best that will happen is complete removal of the subsidy.

“The price they put is a good one, but the best thing is to leave the market open so that people will decide what they want to sell after importation,” he was quoted by the News Agency of Nigeria (NAN) as stating.

He assured Nigerians that petrol would be available with this development, adding that the association was ready to continue to support government’s effort.

Also, the Director-General, LCCI, Mr. Muda Yusuf, said the decision by the federal government to liberalise the petroleum downstream sector was inevitable given the acute resource constraints that the country was faced with.

Yusuf, in a statement yesterday, also pointed out that over-regulation of the sector and the subsidy regime had put enormous pressure on government finances and on the country’s foreign reserves.

According to him, it was evident that the policy was not sustainable, stressing that the review was in the long-term interest of the economy and the people.

“Petroleum subsidy management has been characterised by serious transparency issues for several decades. There are two components of the subsidy phenomenon.

“The first is the actual subsidy, which is the differential between the pump price and the landing and other costs of fuel.

“The second (and more disturbing component) is the blatant corruption inherent in the fuel subsidy regime.

“For several years, the Nigerian economy suffered severe bleeding from this phenomenon; with subsidy payments in the one trillion naira threshold, and even more.

“In an economy with a huge deficit in economic and social infrastructure, it was simply scandalous. It is in the overall interest of the economy and citizens for it to be discontinued,” the LCCI boss said.

He maintained that one of the critical elements of the oil and gas sector reform, particularly the downstream sector, was the complete deregulation of the sector.

He added: “This will create a number of advantages for the economy. It will free resources for investment in critical infrastructure such as power, roads, the railway projects, and in the health and education sectors.”

MAN, in its reaction, also threw its weight behind the federal government's decision

to end the subsidy regime.

President of MAN, Dr. Frank Undemba Jacobs, told THISDAY that it was a correct decision to deregulate the price of petrol, because most members of his association had been paying well above the official price for months.

“I think it is a good decision to deregulate. Actually we have been advocating the deregulation of the product for some time now, so it is a step in the right direction.

“In the short term, prices will go up, but if the government can hold the price at a maximum of N145 per litre, it will be of benefit to manufacturers because most of our members especially outside Lagos and Abuja have been paying over N160 per litre of petrol.

"If you look at diesel which was deregulated a long time ago, you will see that the product has since stabilised at a lower price. The same thing will happen with petrol.

"The forces of demand and supply will eventually lead to fair and stable pricing,” he said.

Marketers, Depots Suspend Loading Meanwhile, as news broke that the price of petrol had been increased, oil marketers and depot owners, who were surprised by the announcement, suspended loading, insisting that buyers must pay the difference between the old ex-depot price which they had paid before the announcement and the new price.

Instead, they insisted that all new loadings must be based on the new price, irrespective of the fact that some of the buyers had paid for the product several weeks or months ago.

All the major marketers — Oando, MRS, Conoil, Mobil, Total, Forte Oil, and NIPCO — had loaded petrol before the announcement, while independent marketers that loaded included Aiteo, Bovas, Capital Oil, Folawiyo, MRS, Rahamaniyya and Sahara Energy.

However, PPPRA's pronouncement on the price review came on the heels of a letter written by the agency to oil marketers and depot owners on Tuesday, informing them of a stock taking exercise.

The letter informed the chief executives of the companies that the exercise, which was mandatory for all the companies and depots, was to re-affirm the agency’s collective resolve at ensuring transparency in subsidy management.

However, by 7 am yesterday, text messages were sent to the CEOs informing them that the exercise had been cancelled.

THISDAY gathered that the stock taking was aimed at determining the quantity of petrol in the tanks, which will be sold at the new price and the quantity already sold by the marketers, which would attract subsidy payment.

But in the absence of the exercise, marketers who had not sold their imported products still at the depots might claim that they had sold the petrol in order to claim subsidy, yet still go ahead to sell at the new price.

A similar exercise was carried out on January 1, 2012 during the failed attempt by the administration of former President Goodluck Jonathan to remove subsidy.

THURSDAY MAY 12, 2016 • T H I S D AY

9

NEWS

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

Confusion over Ownership of Houses Allegedly Bought by Saraki

Tobi Soniyi in Abuja There was lack of clarity yesterday at the Code of Conduct Tribunal (CCT) over the ownership of properties alleged to have been bought by the Senate President, Dr. Bukola Saraki, from the federal government.

Under cross-examination, the

prosecution witness, Mr. Michael Wetkas, told the tribunal that the houses sold to Saraki were privately owned.

This was contrary to the claim by the witness that the properties were bought from the Presidential Implementation Committee for the Sales of Government Houses.

Continuing with the cross-

Shell Declares Force Majeure on Bonny Light Exports over Pipeline Leak Ejiofor Alike Shell Petroleum Development Company (SPDC) has declared force majeure on exports of Bonny Light grade of crude oil due to a leak, which led to the closure of the Nembe Creek Trunkline (NCTL).

This development is a major setback to Nigeria’s crude exports, which have been plagued by militant attacks in recent days.

Aiteo-operated NCTL and the Trans Niger Pipeline (TNP) are the two major pipelines in the Eastern Niger Delta that transport crude oil production from SPDC, Aiteo and third parties in their Eastern operations to the Bonny Export Terminal in Rivers State.

The Aiteo group recently acquired 45 per cent stake in the 97-kilometre NCTL and the prolific Oil Mining lease (OML) 29 from Shell and other joint venture partners - Total E&P Nigeria Limited and Nigerian Agip Oil Company Limited.

Shell has since handed over operatorship of the pipeline to the Aiteo Group.

A Shell spokesman, Mr. Bamidele Olugbenga Odugbesan, said in a statement yesterday that the company declared force majeure due a leak that forced Aiteo to close the pipeline.

“SPDC declared force majeure on Bonny Light exports effective 12:00hrs Nigerian time, May 10, 2016, following a leak that led to the closure of Nembe Creek Trunk line for repairs by the operator, Aiteo Eastern E & P Company Ltd,” he said.

Aiteo Group’s Director in Charge of Media and Government Affairs, Mr. Sola Omole, who confirmed the closure of the pipeline due to the leak, told THISDAY that the company had mobilised contractors to the site.

“There is a leak on the pipeline and we have sent out contractors to the site, which has been isolated.

Contractors have been mobilised to site,” he explained Omole, who ruled out sabotage, further stated that about 75,000 barrels per day to 78,000 barrels per day of Aiteo’s crude oil was affected by the closure.

“I don’t know the production of other companies that are putting product into the pipeline,” he added.

THISDAY, however, gathered that the pipeline has a capacity of 150,000 barrels per day but about 600,000 barrels of liquids can be evacuated at the Cawthorne Channel end of the facility.

Specifically, the NCTL transports crude oil from 14 oil pumping stations across the Nembe Creek, Krakama, Awoba, Ekulama and San Bartholomew oil fields and transport it to the Cawthorne Channel field and Bonny terminal for removal of water and export.

Incessant attacks and sabotage had forced Shell to replace the old line at a cost of $1.1 billion in 2010.

The new NCTL consists of five kilometres of 12-inch diameter pipeline from the Nembe Creek III manifold to the Nembe Creek tie-in manifold; 44 kilometres of 24- inch diameter pipeline from Nembe Creek to San Bartholomew; and 46 kilometre of 30-inch diameter pipeline from San Bartholomew to Cawthorne Channel.

Nestoil constructed a 49-kilometre pipeline, consisting of the 12-inch diameter, five-kilometre segment and the 24-inch diameter, 44-kilometre segment, transversing across 100 communities in both Bayelsa and Rivers States.

The second part of the project consisting of 46-kilometre, 30-inch diameter pipeline from San Bartholomew to Cawthorne Channel was executed by Italian oil field services contractor, Saipem.

Former RECTAS Boss, Ogunlami for Burial Tomorrow A former Chief Executive of the Regional Centre for Training in Aerospace Surveys (RECTAS), Mr. Julius Adeoye Ogunlami, has died.

A highly regarded and decorated surveyor, Ogunlami, who died on April 27, 2016 at the age of 72, had a greatly distinguished career in the various capacities, particularly in the field of aerial surveys.

In the course of his career, Ogunlami held the post of Assistant Director of Surveys (Air Mapping) in January 1993

and in July that same year, he was appointed Director and Chief Executive of RECTAS. He was an active member of the Archbishop Vining Memorial Church Cathedral, Ikeja Lagos, where he served in the Anglican Youth Fellowship, the Christian Friends Society and ‘Friends of the Choir’ Society.

He will be buried on Friday, May 13, at the Ikoyi Cemetery in Lagos, after a funeral service at 10a.m. in the Archbishop Vining Memorial Church Cathedral.

examination, the defence counsel, Mr. Paul Usoro (SAN), urged the witness to read aloud, a letter from one of the bidders of the said property to the committee, indicating that the numbering of the properties were ambiguous.

According to the letters, the properties were labelled 15a MacDonald Street, Ikoyi, 15b, MacDonald Street, Ikoyi and Block 15, McDonald Street, Ikoyi, behind another plot of land labelled No. 15 Macdonald Street, Ikoyi.

When asked whether the

Economic and Financial Crimes Commission (EFCC) invited the writer of the letter, Energy Marine Limited, to explain the content, he answered no.

On whether he visited the properties to ascertain the discrepancies in the numbers of the properties, he said he did not but that other members of the team did and reported back to him.

Answering another question, a member of CCT panel asked the witness how he came to the conclusion that 15a and 15b are

same as No. 15 and Block 15, MacDonald Street. He said he was not conversant with how properties are number but as investigator, he often relied on the replies from the Lagos Land Registry and the Presidential Committee.

The witness said the presidential committee on sale of government property wrote to say that 15 A, 15 B and one behind the 15 were same.

He said he did not ask the committee on the sale to show him the properties because there

was no need.

The witness said he was aware that under the Land Use Act, all land belongs to the government.

He insisted that the 2006 team investigation report stated that 15A and 15 B belonged to Saraki In an answer to another question on whether the committee listed 15 Macdonald Street, Ikoyi, Lagos, the witness said there was nothing in the list like 15A and 15B. The matter was adjourned to next week Tuesday for continuation of cross-examination.

CONDOLENCE VISIT

AdelegationfromtheHeadOfficeoftheWestAfricanExaminationsCouncil(WAEC), led bytheRegistrar,Dr.IyiUwadiae,duringacondolencevisittothe EdaikenofUseluonthepassageoftheObaofBenin,ObaErediauwainhispalaceinBeninCity...recently

$115m Lodgement: EFCC Grills Liyel Imoke, Imasuen, Ize-Iyamu Yuguda: How I shared N450m PDP guber aspirant faults state govt Senator Iroegbu in Abuja The Economic and Financial Crimes Commission (EFCC) in PortHarcourt, Rivers State, yesterday grilled the former Governor of Cross River State, Liyel Imoke, for his alleged involvement in the N500 million collected by the Cross River State Chairman of the Peoples Democratic Party (PDP), Mr. Ntufam John Okon.

The money was said to be from the $115million purportedly lodged by the former Minister of Petroleum Resources, Mrs. Diezani AllisonMadueke, with Fidelity Bank Plc in controversial circumstances during the 2015 electioneering period.

Imoke, according to EFCC operatives, arrived at the Port Harcourt’s office of the commission by 10:15 a.m. yesterday and was immediately interrogated.

Also quizzed yesterday was the former Deputy Governor of Edo State, Chief Lucky Imasuen, as well as an Edo State governorship aspirant on the platform of the Peoples Democratic Party (PDP), Mr. Osagie Ize-Iyamu, who are undergoing interrogation for allegedly collecting the sum of N700 million from the same $115million Diezani’s funds.

According to the sources, N700

million was reportedly collected from the Mission Road branch of Fidelity Bank Plc. in Benin-City in March, 2015.

They claimed that Ize-Iyamu, who was the PDP Presidential Campaign Coordinator during the 2015 presidential election, admitted to collecting the money from the bank.

He was said to have told the EFCC interrogators that he went to the bank on that fateful day with Imasuen and a former House of Representatives member representing Edo Central, Tony Azeigbemi (who is yet to be arrested by the EFCC), and the money was handed over to them by an official of the bank.

According to the commission, both Imasuen and Ize-Iyamu signed for the collection of the money.

Investigations by the EFCC further showed that the two politicians conveyed the money from the bank in a bullion van to the residence of a top politician in Edo State.

The commission was said to be on the trail of the politicians for the recovery of the money.

“Both Imasuen and Ize-Iyamu are in the custody of the EFCC and would be charged to court soon,” the source stated.

Meanwhile, former Minister of State for Finance, Ambassador Bashir Yuguda, yesterday disclosed his alleged involvement in the sharing of the sum of N450million allocated to Zamfara out of the $115million deposited in Fidelity Bank Plc. by Alison-Madueke.

Yuguda is one of the former ministers in the administration of former President Goodluck Jonathan who is being investigated by the anti-graft agency.

In his statement yesterday, he admitted to have collected a total of N450 million in his capacity as a chieftain of the PDP in his state.

The former minister, who hails from Zamfara State, also stated that he supervised the sharing of the money in his home.

According to him, a former Secretary to the Zamfara State Government and member of PDP Presidential Campaign Committee 2015, Aminu Ahmed Nahuche, collected the sum of N450 million allocated to Zamfara State from Fidelity Bank Plc. The former minister is still under investigation at the EFCC Kano zonal office.

Meanwhile, Ize-Iyamu has reacted to the comments by the Edo State Government through Commissioner for Information,

Prince Kassim Afegbua, saying that he sympathised with him (Afegbua) for the harrowing experience of being forced to indulge in bare-faced lies and deliberate misrepresentation of facts that are in the public domain by his “iconoclastic” master, Adams Oshiomhole.

In a statement by his aide, Daniel Osa-Ogbegie, Ize-Iyamu said he was not facing any charge whatsoever by the EFCC. “For the avoidance of any misrepresentation and silly innuendoes by political spin doctors and mischief makers, Pastor Osagie Ize-Iyamu was invited with other stakeholders by the EFCC to visit their Port Harcourt zonal offices to provide information on PDP campaign funds for Edo PDP. Pastor Ize-Iyamu visited the Port Harcourt offices of the EFCC on May 10, 2016 to give the said information and he did that to the best of his knowledge and has since come back to Benin City. Pastor Ize-Iyamu was invited as coordinator of the Goodluck Jonathan campaign in Edo State and being the Coordinator of Goodluck Jonathan’s campaign in Edo State, this invitation should not surprise anybody, as other similar coordinators from other states were invited by the EFCC.”

10

THURSDAY MAY 12, 2016 • T H I S D AY

NEWSEXTRA

SERAP Calls on UK Govt to Extradite Alison-Madueke over Corruption Allegations Ugo Aliogo Following the ongoing International Anti-corruption Summit in the United Kingdom, a civil society group Socio-Economic Rights and Accountability Project (SERAP) has called on the UK authorities to extradite former Minister of Petroleum Resources Mrs. Diezani Alison-Madueke, to face charges of corruption and money laundering in Nigeria.

It said the charges she is currently facing in UK court do not sufficiently capture the gravity of her alleged crimes, and the increasing allegations of corruption against her in Nigeria.

The request followed the announcement by the Central Bank of Nigeria that it was carrying out special investigations into the roles played by banks in certain financial transactions, especially the N23billion reportedly shared to officials of the Independent National Electoral Commission by officials of the former President Goodluck Jonathan administration to influence the outcome of the last general election.

In a statement yesterday by SERAP’s Executive Director, Adetokunbo Mumuni, the group said “the anti-corruption summit in London provides an important opportunity for the UK government to support the ongoing fight against corruption in Nigeria, and to send a powerful message that the UK will not

provide sanctuary or condone impunity for corrupt public officials.

The statement read in part: “As a state party to the UN Convention against Corruption, the UK government can use the convention as a basis for the extradition of Alison-Madueke back to Nigeria.”

“We urge the Nigerian authorities to without delay submit a request to the UK authorities for the extradition of Alison-Madueke, explicitly making the point that Nigeria will guarantee her a due process-trial.

“If the UK refuses extradition request, Nigeria should consider submitting the matter for arbitration and if this cannot resolve the case, refer it to the International Court of Justice for adjudication. The Nigerian authorities should also consider filing a civil action against AlisonMadueke in the UK court.”

“By sending Alison-Madueke back to her country, the UK will be sending a message that high-level official corruption will not go unpunished no matter where the suspected perpetrator hides and thus contribute to the fight against impunity for grand corruption. The UK indeed has an obligation to extradite AlisonMadueke through international cooperation and collaboration in good faith with Nigeria.

“We believe that effective prosecution in Nigeria is feasible, and this will bring

justice closer to Nigerians who are direct victims of corruption.

Extraditing Alison-Madueke back to Nigeria is equally important for allowing easier access to witnesses, evidence, victims of corruption; creating a deep connection between Nigerians and the impact of the trial; and empowering victims of corruption.

“SERAP believes that there is probable cause that AlisonMadueke participated in the extraditable acts involving some banks in Nigeria, whether directly

or indirectly. The allegations of corruption against her are strong enough for Prime Minister David Cameron to facilitate an extradition proceeding.

“The UK shouldn’t be a country of refuge for corrupt officials if it is to avoid a miscarriage of justice in high-level corruption cases.

But if Mrs Alison-Madueke is not extradited, the UK will have a responsibility to amend her charges to include the fresh allegations against her and to try her on the merits under

the UK laws as if she had committed the crimes there.”

“Mr Cameron risks missing an ‘open goal’ unless he shows that the UK is unreservedly committed to seeking justice for victims of corruption, and international cooperation in the fight against corruption by urgently facilitating the extradition of AlisonMadueke to Nigeria so that she can explain her role in the continuing disclosure of allegations of corruption and

money laundering involving several Nigerian banks which allegedly took place during her time in office as petroleum minister.”

“It’s also important for Cameron to work towards improving judicial cooperation between Nigeria and the UK if stolen assets stashed in the UK are to be fully repatriated and if he is not to send a message that corrupt suspects can get away with their crimes without consequences.”

FG Pleads with Resident Doctors to Shelve Warning Strike Paul Obi in Abuja The federal government yesterday pleaded with the National Association of Resident Doctors (NARD) to shelve the five-day nationwide warning strike in the interest of Nigerians who may suffer from the industrial action.

The Minister of Labour and Employment, Senator Chris Ngige, who appealed to NARD members currently on a warning strike, urged them to resume duty in the affected hospitals and clinics, in the interest of their patients and the nation in general.

He called on the doctors “to embrace and utilise the mechanisms of the on – going social dialogue with government on the issues of

concern to its members which have not been exhausted before resorting to any form of industrial action.

This is even more compelling when these issues are still being discussed with the National Assembly.”

The minister observed that the Nigeria Medical Association (NMA) being the parent body of NARD should join in the appeal to its affiliate, to call off its ongoing warning strike and ensure that due process is followed and complied with by its affiliate.

Due process also involves negotiating parties respecting of all laws contingent to the negotiation.

Ngige drew the attention of the striking members of NARD to the essential nature of their duties to humanity especially as spelt out

in the labour laws, stressing the need for the members of NARD to be mindful of their Hippocratic oath while pursuing their relative happiness In an other develoopment, Ngige also urged the Organisation of Trade Union of West Africa (OTUWA) to lead the vanguard for the diversification of the economy of the ECOWAS sub-region in view of the adverse effects of the global economic downturn.

The minister who spoke at the opening of the three-day Workshop of OTUWA, said the monoeconomic base of the West African countries is largely responsible for their current economic woes.

“There is a big threat to the economy of the ECOWAS sub-

region because of our largely mono-economic base. I am happy that your organization has been able to live down its challenges.

The revived OTUWA must therefore help the governments and employers in the sub-region to look elsewhere.” “ In Nigeria, we must look for other sources of revenue and the most easily identifiable one is agriculture and of course, mining. We are also diversifying in trade and services. And because of the availability of fertile land in West Africa, the same thing goes to sister countries. OTUWA which is our regional component of the World Union of Trade Unions must hence, lead this campaign for the diversification of the West African economy.”

T H I S D AY THURSDAY MAY 12, 2016

11

12

THURSDAY MAY 12, 2016 T H I S D AY

T H I S D AY THURSDAY MAY 12, 2016

13

14

T H I S D AY • WEDNESDAY, MAY 12, 2016

COMMENT

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

ROLL OUT THE WELCOME MAT

T

The controversy over who succeeds Salisu Maikasuwa as clerk of the National Assembly is unnecessary, writes Audu Mohammed

he bureaucracy of the National Assembly has recently been thrown into an undue controversy over who occupies the office of the Clerk to the National Assembly (CNA) after the retirement of Alhaji Salisu Maikasuwa. On April 20, the National Assembly Service Commission (NASC) moved to arrest the controversy by announcing Mr. Mohammed SaniOmolori as successor to Salisu Maikasuwa. To all well- meaning watchers, that should put paid to insinuations around that office.

But what did we see? Commotion erupted and it appeared all hell was being let loose on an obviously simple matter. For starters, it is on record that at least five top officers in the National Assembly bureaucracy who are designated as permanent secretaries are on the line for the highest management position in the Nigerian legislature. Even at that there is the well known hierarchy that places everyone in his place. The laws of the land also give the NASC the powers of discipline and promotion over all staff of the legislature, meaning that the commission is well placed to determine the line of promotion at each juncture.

Following the announcement of Sani Omolori as acting clerk to the National Assembly by the Dr. Adamu Fika-led NASC on April 20, a letter surprisingly emanated from the Office of the Senate President on April 21, ordering the commission to reverse the appointment. It was an unusual communication and Dr. Fika after due consultations replied the letter on April 26. The NASC chairman clarified that the decision to appoint Sani-Omolori as acting clerk to the National Assembly was taken at the commission’s 440th meeting held on the April 20, 2016. He said the decision was taken because Mr. Benedict Efeturi, who is DCNA, is set to proceed on pre-retirement leave on August 2, 12 days before the incumbent clerk, Salisu Maikasuwa will be due to hand over to a successor on August 13.

His explanation was deep and factual as he added that Efeturi could not be considered because he was “time barred,” hence the decision to name Sani-Omolori to act as CNA and ensure continuity in the system.

The chairman’s explanation in his letter dated April 26 in reply to the Senate President’s letter of April 21 left no one in doubt as to the sound judgment that informed the choice of Omolori. The letter read in part: “In arriving at the commission’s decision, the chairman did not use his casting vote, because 11 commissioners were in support with only one who voted no. I wish to kindly invite your attention to the reason alleged in your letter to have been used to deny Mr. Benefit Efeturi from being appointed as the acting clerk being that he was not duly appointed as deputy clerk of the National Assembly.

“It is necessary to place on record the career progression of the two officers in the hierarchy of the National Assembly as follows: “Deputy Director: Mr. Efeturi 1st January 2004, Mr. Sani-Omolori 1st January 2003. Director Mr. Efeturi 1st January 2008; Sani-Omolori 1st January 2007.

Acting Clerk Mr. Efeturi 4th February 2010; Sani-Omolori 4th February 2010. Substantive Clerk Mr. Efeturi 25th March 2010; Mr. Sani-Omolori 25th March 2010.

“It should be noted that in the Nigerian Public Service, seniority is determined at the time of consideration for promotion and career

THERE IS THE WELL KNOWN HIERARCHY THAT PLACES EVERYONE IN HIS PLACE. THE LAWS OF THE LAND ALSO GIVE THE NATIONAL ASSEMBLY SERVICE COMMISSION THE POWERS OF DISCIPLINE AND PROMOTION OVER ALL STAFF OF THE LEGISLATURE, MEANING THAT THE COMMISSION IS WELL PLACED TO DETERMINE THE LINE OF PROMOTION AT EACH JUNCTURE

progression chart leading to it.

“Seniority has never and is never decided by the date of appointment to the service or date of retirement from service or indeed the number of years spent in the service.

“From that above analysis, denying Mr. Mohammed A. Sani-Omolori appointment as Deputy Clerk to the National Assembly in 2014 was improper being that he was senior to Mr. Benedict Efeturi.”

However, the desperadoes in the system will not allow matters to rest. They opened another warfront by causing seven commissioners to announce in a letter dated April 26 that they were not part of the announcement of Omolori as acting clerk of the National Assembly.

Having read the letter by the seven commissioners, which has since been denounced by the commissioner for North East, Idi Ningi, which reduced the number of those in opposition to six out of 13, it is obvious that some forces are trying to play on our collective intelligence on this matter. The commissioners claimed to have attended a meeting where Dr. Fika presented a memo on the issue of Omolori as acting clerk.

They said that five of them kept quiet while only one person said yes and that the chairman announced the matter was carried.

We all know that in the legislature, silence does not amount to ‘No’ and that where there are no ‘Nays’, the ‘Ayes’ automatically have it.

Apart from that, why did it take the said commissioner six days to denounce a meeting they attended? The meeting held on April 20 but their letter was dated April 26. Why wait for six days for such an important development? The relevant questions on this matter include: Is it true that Mr. Ben Efeturi is due to proceed on retirement 12 days before the final exit of the retiring Maikasuwa? What happens to stability in the system if Efeturi is announced in May only to go in less than three months? What would happen if he is announced as CNA and he has to retire in less than three months?

In my view, the sensible thing to do is for the NASC to preserve the system by ensuring continuity and addressing this matter once and for all by naming Omolori. After all, the announcement of Omolori does not amount to demotion for Efeturi in any way since he was already confirmed a permanent secretary by virtue of his position as DCNA. If one may ask, why the desperation to upturn the sensible decision made by the NASC? Investigations have confirmed that there are classified and unclassified reasons behind the decision by the commission.

There are claims that some forces are opposed to the choice of Omolori because of the need to pay back their ally over the saga surrounding the alleged alterations of the Senate Rule Book 2015, which is already being investigated by the police. One is aware that some forces are already silently working to ensure their preferred choice gets an extension of tenure if they succeed in putting him on the top seat.

It was also confirmed the NASC took the decision to announce Omolori as a way of starving off the NASS Bureaucracy from a calamity foretold. Those with insights into the workings of the commission said that the commissioners had reasoned that it would be calamitous for the clerk to the National Assembly and the Senate President (Chairman of National Assembly) to be dragged into the dock simultaneously.

Mohammed wrote from FCT, Abuja

NIGERIA AND THE REGULATORY AGENCIES

N

igeria’s much coveted governance change will be greatly enhanced if the nation’s regulatory agencies can be pressed into carrying out their mandates fully. Advancing President Muhammadu Buhari change agenda will require an intrusive evaluation of performance and service delivery by the regulatory agencies. The president will certainly confront some challenges and surprises, including some regulatory agencies not conforming to international best practices. It will be observed also that whereas regulatory mandates are clear, regulatory officials skirt diligent enforcement. Hence, Nigeria’s regulatory sector, despite perceptible proactivity, remains turbulent.

Governance works best when there is inclusivity, with consumer rights and interests protected. The absence of such protection creates challenges. For now, matters in the realm of the regulatory agencies are increasingly tense and conflictual. And despite their tortured excuses, regulatory agencies charged with communications, electricity, banking, and petroleum matters, have failed to protect Nigerian consumers fully, as per their mandates and Buhari’s change agenda. As with the old order and the contagion of past wrongs, Nigerians continue to suffer when regulatory agencies underperform or fail. Buhari’s government is also being ill-served.

Statutorily, a regulatory agency is an independent body, “with the autonomous authority to exercise authority over some area of human activity in a supervisory capacity.” Regulatory commissions’ mandates are commonly adapted to national and niche imperatives. In Nigeria’s case, extant and prospective consumer protection regulations seek to “protect and promote the interests and welfare of consumers by providing consumers”. Accordingly, a

Oseloka H. Obaze argues that the regulatory agencies are underperforming

draft bill now before the National Assembly, seeks to redress prevailing and future shortcomings. Still, the strength and limitations of consumer regulations isn’t in the prescriptions, but in ensuring full compliance and enforcement. Nigeria is not bereft of niche sector regulators. Indeed the critical segments of the economy have existing regulations and regulators, including the Bureau of Public Enterprise (BPE), Fiscal Responsibility Commission (FRC), Securities and Exchange Commission (SEC), Nigerian Communication Commission (NCC), Central Bank of Nigeria (CBN), Nigerian Insurance Deposit Corporation (NIDC), Nigerian Electricity Regulatory Commission (NERC), National Agency Food and Drug Administration and Control (NAFDAC) and Standards Organisation of Nigeria (SON), and several others. Naturally, these agencies lay claim to optimising their mission. But in reality, their impact, where felt, is often below par, considering the din of public agitations and protestations related to their respective sectors. In fairness, however, most agencies still contend with the dichotomy between the executive and legislative arms, and their meddlesomeness of government, as they seek to wield influence, while failing to hold the agencies accountable.

The enormity of regulatory failings in Nigeria is best viewed from the prism of Nigeria’s debt profile. Nigeria’s national debt which stands at N12 trillion ($65 billion), remains troubling. Eighty-six per cent of Nigeria’s domestic debt is owed by states and the federal government. While most Nigerian States remain trapped in a debt peonage, Nigeria’s indebtedness of N1.63trn to international and domestic institutions is well over 35% the FY 2016 national budget. How does a nation wrack up such debt, when the Fiscal Responsibility Commission (FRC), has oversight responsibilities on such

matters? In blaming the political leadership for fiscal profligacy, commensurate blame must be assigned to the FRC, for failing to hold the states to established borrowing thresholds – a 3% borrowing ceiling in relation to their total annual revenue. Acceptably, the FRC failing is compounded by the conduct of State Assemblies that acquiesce to state governors taking out loans without due process and due diligence.

It’s known that Nigerians GSM users, consumers of electricity, petroleum products and bank customers are routinely subjected to arbitrary charges. The choice is to either accept such high tariffs or do without the services. Challenges persist across board, but the successful deregulation of Nigeria’s aviation sector and the GSM telephony system and the proactive role of NAFDAC attest to what is possible.

Yet, the negative impact of government’s meddling was highlighted recently, by the regulatory impasse between NCC and MTN over the latter’s 5.1 million unregistered SIM cards. Though the NCC imposed a N1.04 trillion ($5.4 billion) fine on MTN for non-compliance with Regulations 19 and 20, Section 15(2) of the Registration of Subscription Regulations, Act 2011, the federal government intervened, accepting N50 billion as a “good faith deposit”.

President Buhari then blamed MTN as “complicit in the country’s fight against the deadly Boko Haram sect by not dealing decisively with unregistered sim cards which were thought to have been utilised by terrorists”.

The regulatory performance challenges confronting the Buhari administration are inherited. But change continues to elude the niche sectors, even as Buhari’s ‘change’ mantra becomes intense. Prevailing shortcomings in just three key sectors, electricity, petroleum and banking, attest to the underperformance of our regulatory agencies. Nigeria’s electricity

supply remains epileptic just as electricity tariff pricing and cost of meters to consumers remains outrageous and contentious. In 2013, Nigeria’s eleven Discos contracted with the NERC and BPE to bridge the three million metering supply gap.

Three years later, the Discos have barely managed an incremental installation of 152,000 meters, a paltry 4.5% increase, even as the balance of 251,531 has been financed by Nigerian consumers, via the Credited Advance Payment for Metering Initiative (CAPMI). The confused state is best attested to by the National Assembly wading in last February, and directing NERC to rescind its 45% increase in electricity tariffs. Likewise, petroleum processing, distribution, pricing and management are yet another failed remit of our regulatory agencies. Nigeria was recently embarrassed as its acute fuel shortage gained international notoriety. Despite the best efforts

by Minister of State for Petroleum, Dr. Ibe Kachikwu, Nigerians are still being gouged with PMS selling up N400 per liter, instead of the prescribed N87 per liter. Besides enforcement failure, what is most appalling is the policy deficit that translates to the absence of national strategic petroleum reserve. Still the present challenges reflect a throwback to warped public policies, including huge sectoral leakages and malfeasance in the Petroleum Trust Development Fund. Nigerians have also not benefited from banking regulators as they should. Combined, CBN, NDIC and FRC regulations and even the establishing of a CBN Consumer Protection Department in 2012, did little to stem corporate non-compliance and excessive bank charges passed on to unsuspecting consumers as Cost of Transaction.

Obaze, MD/CEO of Selonnes Consult Ltd., is the immediate past Secretary to the Anambra State Government

15

T H I S D AY • WEDNESDAY, MAY 12, 2016

EDITORIAL PIRACY AND NIGERIAN WATERS

F

The authorities could do more to safeguard Nigeria’s territorial waters

rom available data, while the incidence of sea piracy is dropping in other territorial waters, it is increasing here in Nigeria and the Gulf of Guinea. That should worry the authorities especially given the recent warning by the International Maritime Bureau (IMB) that attacks by sea-borne bandits off the West African coast are on the rise in Nigeria. To compound the problem, the United Nations Security Council was told last week that Nigeria was losing about $1.5 billion a month due to piracy, armed robberies at sea, smuggling, and fuel supply fraud as piracy and armed robberies in the Gulf of Guinea are on the rise.

Ambassador Michele J. Sison, the United States’ Deputy Representative to the UN, said in the open debate on peace consolidation in West Africa titled “Piracy and Armed Robbery at Sea” that the root causes of piracy in the region are ineffective governance structures, weak rule of law, precarious legal frameworks, and inadequate naval, coast guard, and maritime law enforcement. “The absence of an effective maritime THE SPATE OF ATTACKS governance system, IS WORRISOME AS IT in particular, hampers HAS GIVEN NIGERIA AND freedom of movement OTHER COUNTRIES IN THE in the region, disrupts GULF OF GUINEA A VERY trade and economic NEGATIVE IMAGE IN THE growth, and facilitates COMITY OF MARITIME environmental NATIONS crimes,” she said.

That global attention is now on Nigerian waters is understandable.

Between January and March 2016, several attacks were reported off Nigeria’s coast. This involved armed pirates stealing cargoes of crude oil and petroleum products. Within the period, no fewer than 44 ship crew members were also abducted. Describing them as “unacceptable”, the director of IMB, Pottengal Mukundan said reports in the last quarter of 2015 were indicative of more violence against ships and crews in the Gulf of Guinea, particularly around Nigeria than anywhere in the world.

Letters to the Editor

T

In the first quarter of this year, no fewer than 14 commercial vessels were attacked in Nigeria’s maritime domain. In six of these incidents, 23 crew members were kidnapped for ransom running into hundreds of millions of naira. Against the background that piracy has been on the decline since 2012 after international naval patrols were launched off East Africa in response to a spate of violent attacks by mostly Somali-based pirates, the Nigerian authorities should be worried about recent developments on our territorial waters.

T T H I S DAY

EDITOR IJEOMA NWOGWUGWU DEPUTY EDITOR BOlAJI ADEBIYI MANAGING DIRECTOR ENIOlA BEllO DEPUTY MANAGING DIRECTOR KAYODE KOMOlAfE CHAIRMAN EDITORIAL BOARD OlUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN

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

EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOlA BEllO, KAYODE KOMOlAfE, ISRAEl IWEGBU, EMMANUEl EfENI, IJEOMA NWOGWUGWU GROUP FINANCE DIRECTOR OlUfEMI ABOROWA DIVISIONAL DIRECTORS PETER IWEGBU, fIDElIS ElEMA, MBAYIlAN ANDOAKA, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTORS HENRY NWACHOKOR, SAHEED ADEYEMO CONTROLLERS ABIMBOlA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI GENERAL MANAGER PATRICK EIMIUHI GROUP HEAD fEMI TOlUfASHE ART DIRECTOR OCHI OGBUAKU II DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: first name.surname@thisdaylive.com

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

LAI MUHAMMED AND THE MASQUERADES

he Minister of Information, Culture and National orientation, Alhaji Lai Muhammed reportedly aired his idea of creating jobs for mass of Nigerian youths that were still searching for means of livelihood or gainful employment. And he is confident that his ministry has a solution to reduce the high rate of youth unemployment. According to the minister’s calculations, there is at least one major festival being held annually in all the 774 Local Government Areas (LGAs) of the Federation. And some of these festivals have something to do with masquerades in one form or the other.

In the minister’s opinion, clothing one masquerade can provide jobs for about 1000 youths. If the minister was quoted right by a section of the press, then the minister’s idea is weird and unrealistic. Instead of prompting Nigerian youths to be carrying masquerades in our streets under the guise of creating employment for them and for cultural revival, our youths should be encouraged and supported to go into mechanised farming, mining and skills acquisition which can in turn make them to be employers of labour in no distant future.

This present administration should avoid the grave mistake made by the General Olusegun Obasanjo’s regime as a military head of state in 1977 when his government used the money raised from oil boom era to play host to powerful demons from all over Africa; all in the name of Black Cultural Revival/Awareness. Obviously, the nation may still be struggling under that self-inflicted yoke today. The signs that this nation may still be under some sort of bondage as a result of FESTAC in 1977 are still visible in our

he spate of attacks is worrisome as it has given Nigeria and other countries in the Gulf of Guinea a very negative image in the comity of maritime nations. It has also led to the high cost of freight as ship owners and crew members often demand for high insurance premiums before embarking on any voyage to Nigeria and the Gulf of Guinea. Apart from reducing the number of vessels calling at the nation’s seaports due to the fear of attacks, it has helped in no small measure to increase the cost of doing business as ship owners and consignees are compelled to charge higher than they do for other places. These huge costs are eventually passed off to the final consumer. The number of lives lost to such crime aside, piracy drives fear into shipping practitioners, especially ship captains and Master Mariners.

While there is unanimity among shipping practitioners that sea piracy cannot be totally eradicated, it is also a fact that with concerted efforts by all the relevant stakeholders, the menace can be minimised. In addressing the challenge, the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside said recently that a legal framework that would prescribe stiffer sanctions, a more vigorous and vigilant military-led patrol, and better intelligence gathering network would be required.

We hope Dakuku would help to put such measures in place so that Nigerian territorial waters will not continue to harbour criminals.

socio-economic and political spheres. It should be noted that the 1980 Maitasine religious riot broke out in 1980 in Kano city barely after the nation hosted the Festival of Arts and Culture and since then the demons that accompanied such masquerades have been demanding for blood. And that may be partly the spiritual undertones behind some of the needless socio –ethno religious crises that have been afflicting this nation- the most recent ones being the Boko-Haram and the Fulani Herdsmen menace. Even despite the presidential order to curb the Fulani herdsmen menace, the group that has been ranked to be the 4th among the most deadly terrorist gangs in the world, the gang again struck in a community in Enugu State on May 6, 2016 leaving about 40 people dead and several injured. Some demon- obsessed masquerades might have been dumped in our National Theatre by our visitors who came to honour our invitation for the FESTAC 77. And the priests who know how to appease the spirits of these foreign masquerades have left their cargoes behind.

And so it is advisable that our articulate minister should please avoid the temptation of further enslaving this nation through his masquerade creating-jobs idea. His ministry can present better memos to the Federal Executive Council in order to justify its proposed expenditure in the 2016 budget that has just been signed into law by Mr. President. We also hope that the budget will be cash-backed as soon as possible so that the MDAs can hit the ground running.

Gbemiga Olakunle, JP General Secretary, National Prayer Movement

HARNESSING RESOURCES FOR RURAL DEVELOPMENT

P

rickle Academy has demonstrated how rural communities can create sustainable social solutions by harnessing local resources.

Also known as Prickle Educational Initiative, the non-governmental organisation works with rural communities, helping them identify their unique strengths thereby empowering the youths to become active citizens and community builders.

The academy uses the asset-based community development (ABCD) approach to carry out her collaborative community projects. A recent development involved an intensive capacity inventory over a period of eight weeks in Mbagishi, a rural community in Vadekiya local government of Benue State.

The inventory showed that the community was rich in natural resources, community bonds, various skills and agricultural produce. It was also

discovered that almost every house had a mobile phone. With these discoveries the academy organised training on how to make peanut snacks.

The training which had 40 participants in attendance saw the facilitator, Miss Grace Opoola transferring knowledge to the participants for one hour 40 minutes all the way from Lagos. This was made possible with a discounted call package which costs N100 only.

While expressing his excitement at the success of the event, the team leader, Damilola Fasoranti explained that the innovative idea did not only remove the overhead cost of training but also helped to prevent information overload.

He added that “People especially in the rural communities have survived to this point not without pain but with ideas, education, will, hopes and other people, all of which we need to understand and appreciate in order to help.”

Grace Daramola, Lagos

16

T H I S D AY • THURSDAY, MAY 12, 2016

POLITICS

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

PERSONALITY INTERVIEW

Nnamani: How Not to Wage Corruption War Former Senate President, Chief Ken Nnamani, was recently in Calabar, Cross River State. He granted an interview to select journalists and spoke on topical national issues. Bassey Inyang presents the excerpts:

W

hat’s your take on the budget controversy?

All I can say, particularly in the area of budget is that budget is an example of where the legislature and the executive are involved in what is called co-management of the economy. That is a basic example – co-management. And that is, it typifies a good example of collaboration between the legislature and the executive branches of government. It often comes with an estimate; and it is one of the functions of the National Assembly to appropriate for the executive. And as the name implies, it is the executive that executes the projects.

The role of the National Assembly – one of their important core functions is to appropriate funds for the executive branch, which gives them the added responsibility of oversight because since they know what they have appropriated, it behooves them to also follow through to ensure that projects are executed by the executive branch according to the Appropriation Act. And you know once the appropriation bill is signed, it becomes law. It is an Act, it is law. So, that relationship, mark you, is for one government – the legislature, the executive and of course the judiciary.

But, in this particular instance, it is the purest example of co-management of the economy.

The executive doesn’t do it alone; the National Assembly doesn’t do it alone either. That is why I use the word collaboration. During our time, we ensured that the budgets were signed before Christmas for two years. That was during (President Olusegun) Obasanjo’s time. Budgets were signed before we went on Christmas holidays because we understood that principle clearly. It is not purely the responsibility of the executive to just turn in an estimate and then it becomes a bill. The National Assembly will now play a role, given their knowledge and their constituents.

So, it is a place where they collaborate. The executive and the legislature collaborate to comanage the economy. The buck, however, stops on the desk of the president, according to our constitution, and as it is practiced elsewhere; it is a very good example of that collaborative effort.

What are those common issues that bring conflicts between the executive and the legislature in the budget process?

You see, if members of the National Assembly get involved in executing projects themselves, it will create problems because they are not in a position to execute projects. It is left for the executive branch. Even from the definition ordinarily, executive executes projects. It is not for the National Assembly because if indeed, you appropriate funds and then you turn around to execute, the purpose of over-sighting is defeated.

If the legislators are now doing the execution of projects, it brings about confusion when you talk about constituency projects.

You might help to site a project in your constituency, but you may be lucky, if you know the contractor. You may not necessarily know the person doing the contract. So, at times, I wonder when I see senators, members of the House, who are donating bicycles, vehicles and all these things, saying they are projects. I say ah, things have changed because I don’t know if they have their own personal budget on that.

I don’t think it is the role of the legislator to execute budgets.

Does it mean that the impression held by some Nigerians that lawmakers execute constituency project is wrong?

Nnamani...Buhari needs to set example on graft war

If lawmakers are involved in the execution of constituency projects, in my view, it is wrong.

They are not supposed to do that. It is for the executive to do that. You cannot be competing with your governor in the state on building of roads. That is not your role. Where did you get the budget to do that? Are you the executive? You are a legislator; you have a limited income. You are there to make laws and carry out oversight functions – screening of ministers and other things. There are basic roles defined in the constitution. For somebody to say that he is building this, executing that, as what, from where is that money coming from?

They are fighting, but we need to see some examples set. Corruption is too much. It is embarrassing.

The way we are conducting our bazaar is disgraceful.

When you go outside and they hear Nigeria, they look at you again. We treat our treasury anyhow. Yes, I support the fight against corruption, but there has been no serious examples – serious ones – battles without casualties. What we keep hearing is arraign, arraign, arraign. We need to see convicted, convicted, and convicted

Given the fact that this is the first budget from President Buhari’s regime to the National Assembly, but enveloped in so much controversy, do you see it as a learning process that the executive and the National Assembly will improve on in future?

Well, I don’t know what is there to be learnt because there are legislators there, who have served for several terms, and there are some members of the executive branch, who should have known what budgeting is all about. The situation is very unfortunate. Very soon, we will be clocking one year. By May 29, they would have served one year; and you know that the greatest enemy of somebody in office is time. Why? Whether you are performing or you are not performing, the clock is counting down the seconds.

So, that is their biggest enemy. Before you know it, they would say you are handing over tomorrow and then you start rushing.

The enemy of anybody in office is time. I think the issue of budget is very unfortunate. If it can be used as a learning curve; fine. But it will be a very expensive one and very confusing.

From day one, I read when they were saying the budget is missing, after that they said there are figures that came from nowhere and all kinds of excuses.

And you wonder who is in charge? It looks like everybody is in charge, and therefore nobody is in charge. I am sure they will not allow such things to happen again.

It is the same thing that happened I think is it June 9, when they were supposed to proclaim the National Assembly. That proclamation day became a day APC went to a particular meeting instead of going to receive their trophy. Their trophy is that senate presidency. They didn’t go to receive it, they went to hold another meeting and before they realised it, another member had emerged. They are still paying for it until now. I hope they don’t continue in that fashion because many Nigerians are expecting a lot from APC.

are the lawmakers and not the executive. What do you have to say?

To heap the entire blame on the lawmakers in the last 16 years will be wrong because not that Nigeria is short of good laws; there are quite a number of these. You should have been asking how about the political will to get the laws actually applied efficiently and effectively.

That should have been the case.

The executive may have some blame; the legislators the same thing. But to say it is from the legislator alone is not possible because so many of the laws they make have to be executed.

Who does the execution? The executive branch does the execution by virtue of their position. So, it is not entirely correct to say that in the last 16 years because of the lethargy or shortcomings in the legislative arm things have not moved as fast as they should have moved.

I think everybody, every Nigerian including yourself and my humble self would have blame because no matter how well the law is crafted, it depends on the implementation and the political will to implement. That will to implement lies more in the executive branch; the political will to ensure that it is enforced.

The legislators are not to blame because the work of the legislators is to make laws and perform their oversight functions.

Some Nigerians believe strongly that the problems militating against the rapid development of Nigeria in the last 16 years

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

Do you think Nigeria should still continue with the presidential system of government given the cost of running it?

To a very large extent, I agree that the presidential system is quite expensive. It is costly, but it becomes more costly, if we remember what is called Braille arithmetic; part A bring water, and part B drains it.

The one that drains it is the corruption aspect.

It adds nothing to the system. The level of corruption adds to the expensive nature of corruption. Remember there was a time Nigeria was ranked as the most corrupt nation in the world. I don’t know where we stand now; I have not looked at the statistics.

17

T H I S D AY • THURSDAY, MAY 12, 2016

INTERVIEW

Banire: Why We’re Pursuing the Change Agenda Convener of the United Action for Change and National Legal Adviser of the All Progressives Congress, Dr. Muiz Banire, has provided answers to some of the frequently asked questions on the initiative behind his pet project, UAC. He also dealt with some topical national issues. Shola Oyeyipo presents the excerpts:

Y

ou are the coordinator of the United Action for Change and like a child’s play it has begun to secure interesting attention on the political space, especially given the recent Town Hall Meeting and a lot of people are wondering, what is the rationale behind this initiative?

In the first place, I am not the coordinator.

Mr. Niyi Akinsiju is the coordinator. I am the convener. And the group arose out of the need to have an alternative platform, wherein opinions can be expressed on matters of national importance. In fact, it arose out of dialogue among people, not necessarily politicians. Most of our members are not really politicians. It is just that we found ourselves together. Most of the times, some of them get agitated about things happening in the country and some of us try to respond; in some cases even inviting them into the political circles but in most cases they don’t want to touch it.

As far as they are concerned, politics is dirty; they don’t want to get involved. Then, we said okay, let us agree. There are other ways of contributing to the system. Let us have a

Of course, there will always be insinuations. My expectation is to hear that certainly, that group is Atiku’s group or is Saraki’s group; they are being funded by Fashola or somebody is funding them; they have political agenda and all that. But I tell you as I always tell our members, we don’t distribute money; we don’t share rice; we have nothing to share there – all that we do there is to engage in intellectual discussions and bring out things that we believe can add value to the system

platform, where all of us can come together and then look at things from objective perspective and pass our ideas. That was the evolution of the group and till date, it remains a non-partisan group because we have people with Peoples Democratic Party (PDP) tendencies; the All Progressives Congress (APC) tendencies, in fact, larger number of our people are non-politicians.

They are substantially people you refer to as ‘I no go gree’ – activists mainly, who believe that they need a platform to add value to the system, particularly, the change mantra of the present government that they believe in. So, that is what is responsible for it. We are not political at all and I can tell you for free that we do not intend, in the nearest future, to be political. We want to remain focused on the things that we are doing and we want to make sure that at the end of the day, we continue to complement the efforts of the government at all levels, when it comes to the issue of propriety and that is what has brought us together.

If you look at most of the things that we have done, you will see the narratives there.

I give you an example: we have succeeded in drafting some bills that bother on anticorruption – the Whistle Blowers’ Bill, the Freedom of Information, which we have taken to some stage and we are still continuing. Our intention is to take it round all the states and get all the states to pass it into legislation.

Beyond that, we hold our monthly round table meetings wherein we take issues that are critical to the development of the nation.

For example, the issue of petroleum; we dealt with it at one of our round tables. The issue of power, we have dealt with it, even when Lagos was having serious challenges in governance at the beginning of the administration, we had a round table and in all these ones, the report arising therefrom were passed to the necessary authorities by way of advisory note because for as much as we can, we try to be non-confrontational. We try to advise behind the scene those responsible in that regard.

Of course, we do public interest litigation also and apart from the town hall meeting that we witnessed recently, there are also public lectures and symposiums that we undertake from time to time. Our conviction is that certainly, you do not need a political platform or any office whatsoever to contribute to the development of your society and that is what we are pursuing and what we represent.

The name of the group is United Action for Change and it sounds too much like the APC change mantra, is there any relationship between that group and the APC? Our believe is that once election is over, the government is responsible for everybody and to that extent, once we believe in it – most of us believe that we must change the way we do things. We must move away from usual things to unusual ones. And to do this one, certainly you need change. So, whether it is the APC change mantra or the proper change mantra in the context of the public expectations – for example impunity – all of us, regardless of your political affiliation or sympathy, will agree that we must stem the

Banire...the change agenda must be realised

tide of impunity in Nigeria.

All of us, I believe to a large extent, will agree that we must fight corruption. So, in all of these issues, we believe that if we are all on the same page, then we can be following that agenda, even beyond what APC is saying about change. We can even escalate it beyond that and which we are doing and we shall continue to do beyond what was envisaged as at the time APC was putting its own change mantra down.

Beyond the immediate intervention, which is to spur the government of the day to delivering on its promises, what are the long term aims and objectives of this group?

The long term aim and objective is to constitute ourselves into a movement – a serious pressure group that is capable of keeping the government on its toes in delivering on its promises always so that the people understand their rights. We want to educate them. We want to ensure that due process and due diligence is undertaken in virtually all our affairs. We want to make sure that Nigerians can no more be taken for granted on any issue whatsoever. We are ready to go to any length in making sure the people know about their rights.

For example, after elections, people tend to forget that the political office holders are accountable to them – you have a right in a council to say “My Chairman, how much has come to our council by way of allocation this month, what have you done with that money? You have right to call on your councilor and by extension, the state and the federal government, but right now, a lot of people don’t even know who their ambassadors or representatives are, much less asking them these questions.

So, we believe that Nigeria still needs a lot of education so that people will not continue to take them for granted the way they are being taken for granted currently and that is part of our long term objective. And of course, our advocacy, we believe at a time will still get to the grassroots because for now, I must confess to you, we do not have the capacity.

We need mass of people.

For example, we want to be able to go to the market place and tell the market women that cheating via the manipulation of measurement of ordinary gari or rice must be stopped. We need some people that will go to that level to educate them that it is going to be a vicious circle of poverty because if you continue to cheat people here they will cheat you elsewhere.

We want to educate the people on the nexus between their votes and their lives because some people can sell it for influence, money or immediate satisfaction.

Part of the next level will be to expand to other states because for now it seems as a basically Lagos-based group. We are not in Lagos alone. Currently, we are in Osun, Oyo, Ogun is coming up, Abuja is already in place, Kogi will be in place very soon, Benue is on its way. So we are moving gradually. We are not in a hurry to be candid.

With due respect to your standing in the league of your profession, the truth is, whenever

your name is mentioned, what people see is a politician. You have been very active at both the state and the national level over the years and now, how are you able to extricate yourself and your interest from this group when matters clash?

Well, I must say it is a challenge. I must confess to you, it is challenge. What I do as much as possible when such issues come up, I excuse myself so that I don’t bias their minds – take your own position and move ahead with it. That is number one. Number two, part of the reasons I joined the group was because of the conviction that there is the need for some of us to continue to stand for something.

I tell you, not all of us have that capacity for political intrigues. I don’t have it. Most times, a lot of our people believe that for you to be able to derive one advantage or the other, you have to manipulate the process or play some intrigues here and there but I am not used to it and I want to remain honourable. My word, I want to believe must continuously remain my bond. This is lacking where I am operating currently, to a large extent. I believe we must have a platform, where we must tell ourselves the truth without anybody feeling bad about it. So, that is why I am in UAC today and I believe that the other end is becoming suffocating for me now and I believe it will soon get to a level where some of us will have to exit that platform for good.

Like somebody keeps asking me, “what is happening to you politically, we are not hearing from you,” and I say, “we are ‘Politically Displaced People,’ so don’t mind us. May be with time, we will leave the space for them so that they can concentrate on what they know how best to do. We want to concentrate on what we know how best to do. We want to continuously add value to the system, regardless of position or platform.

But that excuse cannot suffice because presently you are the National Legal Adviser of your party and is this not going to in one way or the other undermine that office with respect to the philosophy and standing of your party?

I can tell you for free that it is consistent with the position of the party on all issues because for those who are in the national exco with me, you can find out yourself, these positions that I am canvassing are the position I take at the party level and I believe that it is the proper positions to continuously take.

Of course, there will always be insinuations.

My expectation is to hear that certainly, that group is Atiku’s group or is Saraki’s group; they are being funded by Fashola or somebody is funding them; they have political agenda and all that. But I tell you as I always tell our members, we don’t distribute money; we don’t share rice; we have nothing to share there – all that we do there is to engage in intellectual discussions and bring out things that we believe can add value to the system.

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

18

T H I S D AY • THURSDAY, MAY 12, 2016

INTERVIEW

Akaolisa: How PDP Lost Imo Governorship Mr. C.O.C. Akaolisa, outgoing Legal Adviser of the Imo State chapter of the PDP, revealed to Amby Uneze why there are cracks in the party in the state. Excerpts:

S

ince the loss of the governorship election in 2015 in the state, the party has not been united. What is really happening?

The loss of the governorship to us was principally shocking because Imo people really looked on to PDP to take over the governorship of the state; to provide good governance other than what we are seeing in Imo today. What Imo people are witnessing today falls short of any standard of governance that is acceptable. So, they really looked forward to PDP to provide good governance as an alternative. Unfortunately, we had all it took to have taken over that Government House but minor carelessness in the sense that these issues were issues that could have been handled but we lost the governorship.

But we expected that after losing the governorship that the principal actors should have gone in to do some soul-searching to examine themselves, allow the party to have a little retreat to study what happened and come up with a good calculated and well-articulated plan to now face the coming elections.

Our congresses are here with us, so the major actors started again to try to maneuver each other. The crisis you are seeing in PDP is not anything short of the desire of the principal actors to hijack the structure of the party to be able to control the primaries that would come up in 2019. It is all about 2019 primaries, that is what they have started.

Some of us who have been in politics for some time are of the opinion that it is too early for anybody to start thinking about hijacking the structure. That is why this present executive is fighting to ensure that nobody hijacks the structure of the party because when we came on board, we made it clear that we were going to stand in with our conscience, having been in this party for a long time, our desire to see that all persons are given equal opportunity to realize their ambitions and interest.

So, we have been working as we did work in the last primaries to provide a level playing ground for all our aspirants. Now we started seeing manipulations, conspiracy that ultimately will lead to more crisis than we even saw during the primaries of 2015, because we minimized the crisis as at that time.

But a situation where a clique in the party would want to hijack the entire structures of the party from the wards to the local government and to the state, incite others by not allowing others to even have any right to the executives and all the structures of the party. That would be very dangerous. We are resisting it because we want to provide a level playing ground for all stakeholders of the party.

This party executive has been accused of not doing much since the loss of the governorship election by at least giving a strong voice as an opposition which is expected in times like this?

It is not actually the work of the party executive to come out every day criticising the state government, but I will tell you also that this executive has been doing that. There is no week that we don’t find issues to tackle with the governance of the state, but the only issue is that people expected us to come every day to denounce Okorocha, fighting him on the pages of newspapers.

Before 2015 and right from the time we lost the governorship in 2011, we took on Okorocha.

When he dissolved the local government system, we took it on. When he was accusing the former governor, Ikedi Ohakim of embezzling the whole money of Imo state, I took him to EFCC, we got all the records of all the money that Ohakim left here, and all that, so we didn’t give him any breathing space.

It was the foundation we led that built some sentiment against Okorocha before 2015. So, after doing all that and we could not get the governorship in 2015, it is expected that there would be a little tiredness and that didn’t mean we have abdicated or allowed the government to cruise all the way. If you understood what happened in Imo, when we were criticising the government, the civil servants, the churches,

Akaolisa...our candidate too was a factor

even the Nigerian Labour Congress (NLC) were all supporting him (Okorocha).

While we were doing everything possible to bring down that administration, many of them were busy supporting him, and it looked like we were fighting Okorocha because we lost the 2011 elections. However, those things we were shouting that time are now manifesting.

Everything we had told them before 2011 election he (Okorocha) had revised them; education he

We failed the election because there was a collapse of the PDP structure in Owerri zone.

The leadership of the party in Owerri zone did not support Chief Emeka Ihedioha. Let us tell ourselves the truth.

The governorship was an Owerri zone project, but Owerri lost and abandoned the project. They did not come fully as a zone to support their candidate, and they are the people who were agitating to have the ticket; they were talking about equity and justice and fair play. The entire state conceded the governorship to Owerri zone

had stopped some aspect of it.

When he was having issues with the labour, everybody expected us to come up, but we allowed the labour to fight their fight, because they gave Okorocha a lot of support during the election, so we allowed them to face it squarely with him. But that does not mean we are not in sympathy with them, PDP did not come out in the fore-front to fight with them. The same thing with the Nigeria Bar Association (NBA), all the time when he started dealing with the lawyers, threatening to reducing the salaries of magistrates and the judiciary staff, we saw it earlier when we were opposing all the things he was doing at that time but nothing came from that angle. That is, why when he now shifted to their turn, we were watching to see how the fight would end, though the fight is still on.

So, there are lots of things that have gone wrong in the governance of the state. Yes, PDP as an opposition is supposed to be in the vanguard of opposition but it is this distraction that has come into us that reduced our collective effort.

We have not abdicated that, it is only this crisis of succession that had come in the party that are distracting us because of the congresses and the primaries that would come in 2019 and our attention has been shifted to the issues that have to do with the present crisis, if not we would have focused enough to fight on.

How true is it that the present executive hobnobbed with the Okorocha government to work against the party in 2015 governorship election?

Anybody that says that is not truthful with the facts. This is a kind of propaganda no right-thinking PDP member would believe in.

This executive did everything, worked very hard for Chief Emeka Ihedioha to emerge as governor. There was nothing that the executive was supposed to do that we did not do. The fact that we did not make it cannot be attributed at all to PDP executive.

So, those who are peddling that rumour are not truthful to themselves. The forces that were at play that made us to lose the election cannot be attributed to PDP at all because PDP as a party did the campaign, worked hard and the executive at all levels of the party worked for

Chief Emeka Ihedioha to win the governorship election.

We failed the election because there was a collapse of the PDP structure in Owerri zone.

The leadership of the party in Owerri zone did not support Chief Emeka Ihedioha. Let us tell ourselves the truth. The governorship was an Owerri zone project, but Owerri lost and abandoned the project. They did not come fully as a zone to support their candidate, and they are the people who were agitating to have the ticket; they were talking about equity and justice and fair play. The entire state conceded the governorship to Owerri zone.

We expected Owerri zone to take at least 80 per cent of the votes to give Chief Emeka Ihedioha the governorship, but Owerri zone could not muster the courage to give their votes to Ihedioha. In fact, the sabotage of the election came from Owerri zone. The sabotage of the candidate came from Owerri zone. Leaders of Owerri zone abdicated; left what they were supposed to do and some of them even declared on the eve of the election to APC. You know what OZOPOF (Owerri Zone Peoples Forum) and all these structures that were in place in Owerri zone did.

They did not come out to support their candidate, even at Mbaise you could see the volume of votes Okorocha garnered from Aboh Mbaise. How can a governorship candidate that comes from Aboh Mbaise and Mbaise people wanted a governor, and Okorocha would go to Aboh Mbaise and score above ten thousand votes in the PDP’s candidates local government?

That is the height of sabotage.

So the Owerri zone has to do a lot of work if they are still interested in winning governorship.

As long as Owerri zone is not united, the governorship will continue to elude them if they don’t muster that unity of purpose that can give them the governorship. For now, I don’t see it happening because I have not seen anything they put on the ground against 2019.

Will PDP face another failure in 2019 by giving the governorship ticket to a zone that is not united? When they have not put their house in order?

So instead of fighting in PDP, fighting to control the structure of PDP, Owerri zone should do the right thing. Go in-house put their house in order, come from a united front and then seek assistance. If they do that they can have the governor, but if they continue to believe that once they are given the ticket, that governorship is all about picking the ticket and then somebody maximizing the ticket.

In 1999, when Udenwa (Achike) was running for governor, we went through all round the whole of Imo State. We negotiated power with stakeholders in Imo. In every local government, we knew who had the power there and we went to the person and he would call their leaders and reached an agreement with them specifying what they would get if you win the election. We shared the commissioners and every stakeholder knew before hand, what they stood to get after the election.

That we did not do in the last election because our candidate refused to share the positions.

How can people come out and fight for you when you refused to negotiate power? I was one of those who told him it was wrong that in Imo, if you have somebody to support you, that person must be told what would be his stake for such person to pull his resources and everything he has to support your candidacy.

If you want Chief Iwuanyanwu or Hope Uzodinma to help you win governorship, you would negotiate with them because they have a lot of influence in the state. For instance, Chief Hope Uzodinma has a lot of influence in Orlu zone and he must be carried along if you want his support in Orlu zone. So, how can you go to Orlu and you want Orlu people to vote for you without a discussion with Hope?

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

19

T H I S D AY • THURSDAY, MAY 12, 2016

PERSPECTIVE

Buhari, Don’t Kill Nigerians Because of Corruption If care is not taken, President Muhammadu Buhari would inadvertently kill all of the Nigerian people in the name of combating corruption, writes Magnus Onyibe

S

o much has already been written about President Muhammadu Buhari’s unwavering focus of energy on the war against corruption, which has saved Nigeria yetto-be disclosed huge amounts of money and won him accolades from all the right quarters – locally and internationally.

Owing to his no-matter-whose-ox-isgored approach to combating corruption in Nigeria, of which a new mantra ‘kill corruption before corruption kills Nigeria’ has been coined, socio-economic activities in Africa’s largest economy are gradually grinding to a halt.

The clear tell-tale signs of a country in distress, which Nigeria is now are not just only manifesting as the dreadfully long queues for fuel on the streets that have been off-and-on for nearly one year, but also the unprecedented shut down of businesses resulting in massive unemployment and the inability of 26 state governments to pay workers’ salaries. This is leading to double digit inflation that has now gripped the economy, reflected in the spike in prices of basic, but essential commodities.

Empty products display racks in most pharmaceutical shops which are evidence of lack of basic drugs and medications for sale, due to paucity of foreign exchange to import them is in my view, one of the worst fallouts of the capital restriction policy by the Central Bank of Nigeria, CBN. What this portends is aggravated increase in mortality rate as Nigerians

Buhari...time to change strategy

The clear tell-tale signs of a country in distress, which Nigeria is now are not just only manifesting as the dreadfully long queues for fuel on the streets that have been off-and-on for nearly one year, but also the unprecedented shut down of businesses resulting in massive unemployment and the inability of 26 state governments to pay workers’ salaries.

This is leading to double digit inflation that has now gripped the economy, reflected in the spike in prices of basic, but essential commodities

may start dying of ailments that could have been cured with medications as simple as penicillin, which are rapidly becoming rare to find as they are out of stock.

The assertion above may appear to be alarmist, but the scenario painted is simply the truth and anyone in doubt should visit the nearest chemist/pharmacy and request for the ordinary medications that were readily available in the past and wait for the response. Usually, the most vulnerable people to be negatively impacted by the dearth of medications are new born babies, children, women and the elderly, particularly those suffering from cancer or cardiovascular diseases requiring chemotherapy or daily dosage of anti-high blood pressure medications etc.

Arising from the above, the CBN and those involved in rationing of foreign exchange must make haste to urgently consider intervening in that sector to avoid a looming health catastrophe.

To that end, the health minister, Isaac Adewole should come out of his shell and structure a deal as Ibe Kachikwu, Petroleum minister of state, did by sourcing foreign exchange for fuel import from upstream petroleum sector, which has now eased the fuel crisis. He needs to convince President Buhari that the health sector needs special intervention in that regard and that’s where the president comes into the picture.’

As the saying goes, old soldier never dies. This wise crack derives from the fact that once a soldier sets his mind on accomplishing an objective, he never flinches or relents until the mission is accomplished.

So, Nigerians have no doubt about the capacity and ability of president Buhari to fulfill his avowed promise of killing corruption before, corruption kills Nigeria, but at what price?

Like most Nigerians, I applaud our hard-fighting president for the courage to want to pull our country out of the economic doldrums that it has sunk into due to maladministration over the years, but I believe that the president, who is very sensitive to issues concerning the interest of the masses, wants to rule over the living, not the dead.

What’s more, the current feeling of misery hanging like an albatross over Nigeria, just like the 1933 Great Depression in the USA, is to say the least, not complimentary to the cult personality of PMB that Nigerians voted for as president, on March 28th 2015 to rescue them from the shackles of corruptioninduced poverty.

Instead of applying 100% energy trying to crush corruption, 30% should be allotted and the balance 70% should devoted to finding solutions to the myriads of socio-economic challenges that are standing in the way of progress and development in Nigeria. As I have mentioned in past articles, China and India, which are the world’s fastest growing economies are cesspit of corruption, yet they are growing, why and how?

In fact, according to World Economic Forum (WEF), India used contracts in the construction industry as political campaign slush funds in the manner that funds for procurement of arms was used by the Office of National Security Adviser (ONSA) during Goodluck Jonathan’s administration.

As the boss of International Monetary Funds (IMF), Christine Lagarde recently pointed out, the world losses about 1 trillion dollars to corruption annually and about 30% of global GDP is enmeshed in corruption. What the foregoing statistics suggests is that the world economy thrives pari-pasu with corruption but despite

the unfortunate incident of corruption, development of society must go on.

It behooves every forward-looking country to strive to bring corruption to a manageable level to boost integrity internationally and earn respect as China is currently doing to sustain flow of Foreign Direct Investment (FDI) and which Nigeria under PMB’s watch has also done.

The difference between the Chinese and Nigerian approach is that China devotes 30% of her time chasing corruption and the rest is invested in pursuit of progress, while Nigeria is devoting her entire effort in fighting corruption.

Clearly, Nigeria has the requisite human capacity and appropriate economic fundamentals to be great again, but all it would take for our country and economy to gain traction is for government to tone down the rhetoric of negativity and instead, our dear president should send powerful messages of hope and defined path to growth and strength to both Nigerians and the international community.

By charting and defining government’s solution to the myriads of challenges bogging down governance, confidence will be reposed in the economy of Nigeria and all the gloomy forecasts by global credit rating agencies – Fitch, Standards and Poor, Moodys – that have crashed Nigeria’s rating and forecast would become bullish again.

It is time to channel the anger against the rot left by previous governments into solutions that would bring the much needed succor to the long suffering masses.

-Onyibe, a development strategist and former commissioner in Delta State is an alumnus of the Fletcher School of Law and Diplomacy, Tufts University, Massachusetts, USA

20

THURSDAY, MAY 12, 2016 • T H I S D AY

FEATURES

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

Alliance against Hunger Arising from their desire to achieve food sufficiency and create more jobs, among others, Lagos and Kebbi States recently ratified a memorandum of understanding, which according to the two state governments, would help to meet 70 per cent of Nigeria’s rice demand.

Gboyega Akinsanmi writes

Imota Rice Processing Mill in Lagos

R

ecently, the Lagos State Government and its Kebbi counterpart signed a memorandum of understanding (MoU). The thrust of the agreement was to produce 70 per cent of Nigeria’s rice requirement. But the agreement does not centre on rice production alone. It equally focuses on boosting the production of wheat, groundnut, maize, millet, sorghum, sugarcane and cow in the country.

Going by its objective, the agreement, which is perhaps the first of its kind in the history of Nigeria, has huge implication.

Currently, according to Rice Millers, Importers and Distributors Association of Nigeria (RiMIDAN), about 5.5 million tons of rice is required per annum. But in all, Nigeria only produced between 3.4 million tons in 2015, thereby creating a production gap of at least 2.1 million tons.

Over the decades, the country’s policy choice has favoured rice importation, which different reports of the Central Bank of Nigeria (CBN) showed, had grave implications for domestic rice production, foreign exchange and employment generation. In a recent report, the bank said the country spent a whopping sum of $2.41 billion on rice importation between January 2012 and May 2015.

But Nigeria has a huge agricultural potential, which Lagos State Governor, Mr. Akinwunmi Ambode and his Kebbi counterpart, Alhaji Atiku Bagudu agreed, could have helped bridge the country’s rice production gap if the right policy choice was adopted. This

potential is evident in a document indicating that Nigeria “has over 84 million hectares of

Over the decades, the country’s policy choice has favoured rice importation, which different reports of the Central Bank of Nigeria showed, had grave implication for domestic rice production, foreign exchange and employment generation. In a recent report, the bank said the country spent a whopping sum of $2.41 billion on rice importation between January 2012 and May 2015

arable land. But only 40 percent is cultivated.”

Confronted with the current harsh economic realities, the two governments are bent on producing 70 per cent of rice production in no distant future, which Bagudu said, was a shared vision of Lagos and Kebbi States.

Even though it was the vision the duo shared, Bagudu said the agreement was ratified in line with President Muhammadu Buhari’s resolve “to restructure Nigeria away from dependence on oil.”

But the vision started at the first National Economic Council (NEC) meeting the Buhari administration convened, which according to him, provided “a guide into Buhari’s economic policy thrust. From the first time we met at the NEC meeting, we decided to see what we can do for ourselves.”

However, Bagudu said, Ambode’s leadership and innovation has translated the shared vision to the MoU. He said: “We believe in the vision of President Buhari to transform Nigeria from dependence on crude oil. We believe the two states can significantly contribute to national food sufficiency and food security for our country. We believe the people of our dear states can benefit immensely from this cooperation. We can add value jointly.

We can create employment. We can generate more revenues.

“It is better to invest in infrastructure of wellness and not infrastructure of illness.

When you eat properly, you are investing in wellness. In the world that genetically modified food is all over the place with all

kinds of health concern, this is an additional motivation for us to do what can work for our people; what can provide certainty for our people and also add value significantly to what we are doing.

“Kebbi and Lagos can provide 70 per cent of Nigeria’s rice needs. We believe what we are doing today will help us to achieve that both in production and processing. We intend to do the same thing for wheat, maize, millet, groundnut and sorghum. We can do it together. Kebbi State after Yobe State as par the records of the National Livestock Censors is the second largest in animal resources.

“We can invest in grazing reserves. We can invest in abattoirs that can help our people.

We can help Fulani reduce the trafficking of live animals to Lagos. It can help provide better, cheaper, more qualitative, well-processed meat in Lagos where the butchers or the people involved in the value chain can be involved from the beginning to the end, thereby adding more value in what we do.

“Lagos, if it were a country on its own, is a country that other states will be going to establish a relationship. So, why can we not establish inter-state partnership? So, what we are doing is that we are pioneering a collaboration that will bring other states on board. We believe our potential is enormous.

We must have pacesetters to start the process of collaboration for our collective good.”

What actually informed the Lagos-Kebbi partnership? Bagudu believed strongly that the partnership was inevitable because Lagos and Kebbi “have a long history of trade.”

21

• T H I S D AY THURSDAY, MAY 12, 2016

FEATURES He noted that the two governments “are not starting something new. Rather, we are only cementing what has been in existence before now and adding value to it so that the people of Lagos and Kebbi are richer together.”

Likewise, Ambode acknowledged the historical ties of the two states upon which Bagudu explained the agreement. But Ambode provided some pragmatic indicators, which he said, made the Lagos-Kebbi alliance compelling and inevitable. He first cited the comparative advantages of the two states that made the partnership economically reasonable and realistic.

By virtue of population, Ambode said Lagos “is the largest consumer of food commodities in Nigeria.” In terms of land expanse, the governor said Kebbi “is an agrarian state with over 1.2 million hectares of arable land characterised by very large floodplains, lowland swamps and gentle slopes.”

Also, Ambode pointed out the purchasing power of Lagos. He noted that the state “has the market, with the required purchasing power. Lagos has an estimated consumption of over 798,000 metric tonnes of milled rice per year which is equivalent to 15.96 million of 50kg bags, with a value of N135 billion per annum.”

Of its 1.2 million hectares of arable land, Ambode said Kebbi “is yet to reach its full potential. In the 2014 /2015 wet season, for instance, over 600,000 hectares of land was deployed for rice cultivation in the three senatorial areas of the state.” By implication, Ambode said Kebbi “is blessed with a vast arable land suitable for the cultivation of rice, wheat, ground nut, maize, sorghum and sugarcane.”

He thus said these indicators explained the rationale behind the decision of Lagos “to enter into a partnership for food processing, production and distribution. We embark on a joint venture to feed our people, establish commercial enterprises; create employment and wealth distribution for own benefits.”

Citing its huge agricultural potential, Ambode said Nigeria had the economic prowess “to produce rice locally.” Consequently, the governor added that the era of imported rice “is gone. The reality is, for all of us, to embrace the consumption of local foodstuff and commodities. In addition to rice, Lagos is currently consuming 6,000 herds of cattle daily which may increase to 8,000 in the next five years.”

Arguably, Ambode said the bulk of the vegetables produced in the country ended up in the Lagos markets. He also noted that Lagos State “is one of the largest producers of poultry and has a large demand for maize for livestock feed production. The state also houses most of the industrial users of wheat and sorghum; mostly flour mills, bakeries, breweries and food manufacturers.”

On these grounds, Ambode argued that the future of Lagos State “is partly tied to deliberate resolution on food security. But food

Kebbi and Lagos can provide 70 per cent of Nigeria’s rice needs. We believe what we are doing today will help us to achieve that both in production and processing. We intend to do the same thing for wheat, maize, millet, groundnut and sorghum. We can do it together

R-L: Ambode and Bagudu after the signing of Memorandum of Understanding on the Development of Commodity Value Chains between the two states at the Lagos House, Ikeja…recently

Ambode (middle) receiving a gift from Emir of Gwandu and Chairman, Kebbi State Council of Chiefs, Alhaji Muhammad Bashar(2nd right) after the signing of Memorandum of Understanding on the Development of Commodity Value Chains between Lagos and Kebbi States at the Lagos House, Ikeja recently. With them are Oba of Lagos, Oba Rilwan Akiolu I (left), Bagudu (2nd left) and Emir of Zuru, Maj.-Gen. Muhammad Sani Sami (rtd)

production and self-sufficiency require our immediate attention at policy and strategic levels to sustain ourselves.” Without strategic partnership, Ambode acknowledged that the state’s resolution on food security would be practically impossible.

This, therefore, explained why Ambode proposed that inter-state collaboration “is key to realising the country’s goal to achieving food security.” He said Lagos and Kebbi “have taken steps to explore respective areas of comparative advantages to achieve food security for Nigeria and save our foreign exchange.

“In specific terms, this collaboration will produce 70 per cent of Nigeria’s rice demand.

The multiplier effect of this collaboration will be felt in the areas of job creation, the development of ancillary industries, the strengthening of our local currency against the Dollar and other major international currencies.”

Specifically, Ambode argued that more of this inter-state collaboration should be encouraged as a major driving force for the diversification of the economy, noting that there “are many more areas of collaboration to be explored in the nation. The political leadership must develop the will to make this initiative work, to achieve food security and promote backward integration for industrial growth.”

He disclosed that the collaboration “is in line with the clarion call and policy direction given by President Buhari, on the need to

feed ourselves.” However, he pointed out that Lagos “has always embraced inter-state cooperation as a strategy to fast-track economic growth and development.”

Prior to the agreement with Kebbi State in the North-West, Ambode revealed that Lagos “has collaborated with states from within the western region in the areas of comparative advantage for the partner states.” He cited the state’s partnership with Osun State, where Lagos “has 84 hectares of land in Osogbo.”

Of the 84 hectares of land in Oshogbo, Ambode said 20 hectares “are used for palm produce, while others are used for rice farming, cassava and maize. Lagos State also acquired additional 1,000 hectares of land in Osun, 500 hectares in Ogun and Oyo each and 50 hectares in Abuja to support farming.

“In addition, all granites used on construction sites across Lagos State are being sourced from quarries located in Ogun State. These relationships have proved especially beneficial for Lagos State given its low land mass and the rapid urbanisation and industrialisation in the state,” the governor explained.

For sub-national governments, developing regional or inter-state cooperation is not enough, according to Ambode. However, he argued, functionality of inter-state cooperation depends on some conditions, which he said, could undermine effective implementation of the agreement if nothing “is done about it.”

For regional or inter-state cooperation to yield the desired result in terms of enhanced inclusive growth, Ambode pointed out that

both national and sub-national governments “must work together to develop functional modern rail and water transportation system.

The movement of goods, materials and people by road is not only inefficient but fraught with risks, safety hazards and detrimental to our roads.”

He cited the example of Lagos-Kebbi initiative, which he said, would involve movement of thousands of tons of paddy rice “to Lagos for processing in the mills.”

Apparently, Ambode said the feat “can only be achieved more efficiently through a modern rail system which at present remains largely undeveloped.”

Already, the two governments had been working together to transform their agreement to action. Just after the MoU was ratified, they had floated LASKEB Agricultural Production and Marketing Company (LAPMCO), a special purpose vehicle set up to implement the MoU. In the same spirit, Ambode had directed that the Imota Rice Processing Factory be upgraded to produce 20,000 metric tonnes per hour.

Aside Kebbi, Ambode Lagos “is looking at possible partnership with other states.

In the long run, such collaboration will ensure that residents can consume locally processed rice within the next six months.

This is a major investment and we cannot allow it to rot away. So in the next three to six months, when we come back here, we must be eating Eko Rice. But we must a vibrant infrastructure in place.

22

IMAGES

L-R: Former National President, Pharmaceutical Society of Nigeria (PSN), Mr.. Olumide Akintayo; Representative of National President, PSN, Mr. Gbolagade Iyiola; and Chairman, PSN, Lagos State Branch, Mr. Gbenga Olubowale, at the 2016 Annual Luncheon and Award ceremony in, Lagos...recently .

KOLAWOLE ALLI

L-R: Chairman, Lafarge Africa Plc, Mr. Mobolaji Balogun; Minister of Finance, Mrs Kemi Adeosun and Minister of Environment, Ms. Amina Mohammed at the 2016 Ogun State Investors Forum in Abeokuta.... recently

L-R:Director, Community Health Services, Primary Health Care Development Agency, Dr. Emmanuel Odu; Representative of the Minister of Health, Mrs. Abisola Akinbiseyin; Acting Director General, NAFDAC, Mrs. Yetunde Oni;and Assistant Comptroller General/Zonal coordinator zone A Southwest Nigeria Customs Service, Mr. Eporwei Charles Edike, during the stakeholders dialogue on food fortification organised by NAFDAC and Global Alliance for Improved Nutrition (GAIN) in

The Speaker of the Lagos State House of Assembly, Rt. Hon Mudashiru Obasa (right) presenting gift to Britain’s Deputy High Commissioner, Mr Ray Kyles during his visit to the Speaker in Ikeja...recently

T H I S D AY • THURSDAY, MAY 12, 2016

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

L-R; Ceo, Raumplus Global, Mr Bergmann Carsten: Franchisee, Raumplus And Bang &Olufsen, Nigeria, Mr Adeyanju Adelakun ; Wife Of The Franchisee,Mrs Dunke Adelakun;Ceo, Bang&Olusen,Mr Mogans Vihelsen,And Director, Raumplus Germany; Mr. Lieber Sebastian, At The Lnauguration Of The Ultra Modern Office Complex/Showroom Of Raumplus And Bang&Olufsen In Abuja....Recently

L-R; General Secretary,Lagos State Chapter of NIPR, Thelma Okoh; Chairman, Olusegun McMedal, and Vice Chairperson,Comfort Nwankwo, during the inaugural press briefing by the new executives of the Lagos NIPR to unveil the membership audit agenda for the Chapter in Lagos...recently

L-R; Acting Managing Director, Port and Cargo Handling Services Ltd,. Alhaji Mohammed Bulangu; Executive Director, Commercials and Inland Container Deport, Mr. Markus Brinkmann and the General Manager Operations, Mr. Mustapha Muhammed, at the 10th anniversary press conference of the Companyís port concessioning in Lagos...recently SUNDAY ADIGUN

L-R; Head of Operations/I.T, Wi-Pay Technologies, Mr. Charles Ighedo; Head of Corporate Services, Mrs. Helen Okocha and Managing Director, Mr. Chamberlain Peterside during the Beacon of Information and Communication Technology (BoICT) awards ceremony where Wi-Pay Technologies received an e-payment solutions provider of the year award in Lagos...recently

T H I S D AY • THURSDAY, MAY 12, 2016

23

BUSINESSWORLD NIBOR OVERNIGHT 1-MONTH

R A T E S 4.4583 9.1071

A S

NITTY 1 MONTH 2 MONTH 3 MONTH

A T

M A Y 6.9949 7.2368 8.0819

6 MONTH 9 MONTH

Group Business Editor ChikaAmanze-Nwachuku Email: chika.amanzenwachukwu@thisdaylive.com 08033294157

6 ,

2 0 1 6

9.2061 9.5872 10.5042

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

Quick Takes AppZone Partners Prime Factors USA

To enhance its flagship card issuance platform, AppZone Africa, one of the leading providers of home grown integrated banking and payment software solutions, is partnering Prime Factors USA, the company that develops and markets enterprise encryption and centralised cryptographic key management platforms for integration into financial applications.

According to AppZone, the card issuance module will take card issuance to a whole new level by enabling the entire spectrum of card production and personalisation activities to be automated and occur instantly upon customer requests in Bank branches.

In the course of the partnership, Prime Factors USA will provide AppZone with a core component used for the creation and management of cryptographic elements required during the secure personalisation of integrated chips found on modern payment cards. With this development, banks on the platform can instantly issue fully functional cards to requesting customers in branches instead of having same customers wait for days or weeks to collect their requested cards.

This is in stark contrast to the traditional card issuance operation which is highly dependent on manual processes that must be dully followed from the branches to the head office and vice versa.

The introduction of AppZone’s Instant personalisation solution eliminates all the manual processes involved during card issuance and replaces them with complete automation.

BRAND INNOVATION SUMMIT

LR: Founder/CEO HealthPlus Limited, Bukky George; Managing Partner, Brandzone Consulting and Convener, BrandPlatform, Chizor Malize; The President, Nigerian Stock Exchange, Aigboje Aig-Imoukhuede; Principal Partner, AD Consulting, Jumoke Adenowo and Managing Director, Unilever Nigeria, Yaw Nsarkoh at the Brand Innovation Summit organised by Brandzone in Lagos…recently

NCC Plans Licensing of Additional InfraCos Emma Okonji Following the licensing of two Infrastructure Companies (InfaCos) for Lagos and the North Central, the Nigerian Communications Commission (NCC) has said it is on the verge of licensing additional five InfraCos for other regions, in order to address telecoms infrastructural deficit in the country.

Director Public Affairs at NCC, Mr. Tony Ojobo, who made the disclosure in Lagos recently, told THISDAY that the InfraCos were meant to rollout infrastructure for the deployment of broadband across the country, but explained

TELECOMS that they may not be able to achieve the target with ease, if the commission does not provide enough spectrums that will support broadband deployment across the country.

“It is for this reason that NCC decided to license the 2.6GHz spectrum as well as the 23GHz, 38GHz and 42GHz spectrum bands. We are doing this in preparation for the licensing of InfraCos. After we must have licensed additional spectrums, we will then license the InfraCos and by that time we will be sure of enough spectrum availability that will support broadband

deployment, since spectrum is the oxygen that sustains broadband deployment and penetration,” Ojobo said.

NCC has proposed that the timeline for the utilisation of the new 38GHz and 42GHz spectrums, will take effect between three and six months and would be awarded on a ‘first come-first serve’ basis.

The additional spectrum licenses, according to the NCC, would provide the much needed spectrum that will enable the InfraCos address the increasing demand for broadband services in the country.

According to Ojobo, “Spectrum is the oxygen that will give life to telecoms business. Today,

data subscribers complain of slow internet speed and this is a function of insufficient spectrum bandwidth to drive traffic. NCC is therefore poised to ensure massive broadband infrastructure in the country, and the initiative is to ensure that the operators have enough spectrum to deploy broadband services in the country.”

He explained that the NCC had already licensed two InfraCos in the country and that MainOne was licenced for the Lagos region, while IHS was licensed for the North Central region, with plans to license additional five.

Continued on page 24

DMO: Borrowed Funds Will Be Used to Finance Capital Projects Goddy Egene and Eromosele Abiodun The Director General of Debt Management Office (DMO), Dr. Abraham Nwankwo yesterday said the N1.884trillion that would be borrowed to fund part of the 2016 budget would be dedicated to capital projects.

President Muhammadu Buhari last week signed the 2016 Appropriation Bill into law after months of delay. Out of the N6.06 trillion, N1.884 trillion would be borrowed from local and international sources.

Speaking at a one-day workshop organised by DMO on “Public Debt and the challenge

ECONOMY of financing Nigeria’s economic recovery” for Capital Market Correspondents Association of Nigeria (CAMCAN) in Lagos, Nwankwo restated the federal government’s commitment that all money to be borrowed to finance the 2016 budget will be used for capital projects.

“The DMO is committed to making sure that we raise money to fund the 2016 budget deficit from appropriate sources and through appropriate mix during the fiscal year to make sure that capital projects are funded,” he said.

Contrary to fears in some

quarters that the country has over borrowed, the DMO boss stressed that the Nigerian debt level is highly sustainable, noting that the nation still has a lot of idle potential, which the administration is striving to harness for effective growth of the economy.

Nwankwo disclosed that while comparative tax revenue to Gross domestic product (GDP) ratio of Nigeria is less than 7.0 per cent, its peer group has a ratio of 18 per cent. He therefore, stressed the need to widen the tax net to generate more revenue for the government.

“Nigeria’s debt to GDP ratio

is 13 per cent, compared to the 56 per cent of peer group. So in that essence, our debt is still very sustainable. In this respect, I am encouraging all Nigerians to continue to make sure that they pay their taxes fully as at when due because our tax revenue GDP ratio is relatively lower compared to countries in our peer group,” he said.

He said full payment of taxes by individuals and corporates bodies will enhance debt and overall economic sustainability of the country.

Speaking on the economic recession, which he said was Continued on page 24

Access Bank Hosts Innovation Challenge

In line with its corporate strategy of developing innovative solutions that drive economic development, Access Bank Plc hosted an innovation challenge where several ideas were pitched by participants with a view to finding solutions to problems in agriculture, transportation, security and power.

The Access Bank Innovation Challenge is a competition that invites teams of contestants to develop innovative solutions to Nigerian societal, infrastructural and environmental challenges, and provides them with educational guidance along the path to prototyping and possibly implementing their projects.

The 2016 Access Bank Innovation Challenge focused on the Internet of Things (IoT), which connects billions of smart devices to the internet. Cities all over the world have developed data-driven IoT systems that have enhanced infrastructure and security, decreased traffic congestions and improved public transportation.

Participants had underwent training in the IoT for three days from Tuesday April 26 to Thursday April 28. Following these successful workshops on Arduino kits and 3-D printing -stateof-the-art tools to help them build the sensors, devices and software for their solutions, Lagos Labs 2016 hardware hackathon commenced on Friday April 29.

Ericsson, MTN to Boost LTE Experience

Ericsson has been selected by MTN Ghana for the deployment of a new LTE network in the Greater Accra region. The deployment will enable MTN to offer its 16 million subscribers high-quality mobile broadband experiences based on HSPA and LTE technologies.

Under the agreement, Ericsson will install its multi-standard radio solution which supports GSM/EDGE, WCDMA/HSPA, and LTE. The solution supports cost-effective deployment, along with capacity and functionality evolution.

Ericsson offers an advanced mixed-mode (2G/3G/LTE) solution that offers an efficient means for operators to migrate their networks to LTE. Ericsson’s solutions enable operators to support existing 2G and 3G traffic with current resources, thereby freeing up spectrum to provide high-speed LTE data services and positioning operators to capitalize on mobile data growth.

According to the Sub-Saharan Africa appendix of the Ericsson Mobility Report, WCDMA/HSPA combined with LTE will account for almost 80 percent of subscriptions in the region by the end of 2021. In addition, data usage will grow 15 times from current levels, with LTE subscriptions growing 28 times.

“Marketing experts should always aggregate propositions to bring out the relevance of marketing to businesses,” President, Advertisers’ Association of Nigeria, (ADVAN) Mr. David Okeme

24

T H I S D AY •THURSDAY, MAY 12, 2016

BUSINESSWORLD NCC PLANS LICENSING OF ADDITIONAL INFRACOS Ojobo said the commission is finalising the licensing process for the additional five InfraCos. Already, a committee has been set up to look at the conditions under which the remaining five InfraCos will operate and once that is finalised, we will licence them to operate in the remaining regions, but this must come after we have licensed more spectrums that are underway, Ojobo added.

Speaking on the challenges of the telecoms sector, Ojobo said deficit in telecoms infrastructure has remained the biggest challenge in the industry.

Broadband penetration is still at 10 per cent, but by the time additional InfraCos are licensed, bottlenecks on Right of Way (RoW) are removed and issues of delay in approvals for the deployment of telecoms facilities are reduced, then we will experience a massive buildout of telecoms infrastructure, which will improve service quality and also increase broadband penetration from its present 10 per cent penetration to an appreciable level of penetration, Ojobo said.

DMO: BORROWED FUNDS WILL BE USED TO FINANCE CAPITAL PROJECTS caused mainly by unfavourable structural change in the fall of oil prices globally, Nwankwo said the Nigerian government is addressing the challenge through diversified, self-sustaining growth in agriculture and agro processing, solid minerals, manufacturing and information communication technology (ICT).

According to him, in the medium to long term, debt sustainability in Nigeria hinges on the overall sustainability of the economy, and the overall economic sustainability hinges on diversifying the economy in a sustainable manner.

“That is what the government is doing in agriculture, solid minerals, ICT and manufacturing. And to do that we need a strong infrastructure base and that is why government is spending what is borrowing on capital projects,” Nwankwo said.

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 (AgricBusiness)

NEWS

Airtel Partners Facebook on Free Basic Internet Services Emma Okonji, Raheem Akingbolu and Sunday Okobi

The Free Basics will launch in Nigeria with more than 85 free services dedicated to health, education, jobs, and finance.

To date, Facebook estimates that its connectivity efforts, which include Free Basics, have brought more than 25 million people online who would not be otherwise.

Airtel Africa will also be offering Facebook Flex in Nigeria, which allows people to access a version of Facebook without data charges. This initiative is part of Facebook’s commitment to bringing people online and reducing affordability barriers.

The Chief Executive of Airtel

Africa, Christian de Faria, said: “We are pleased to take this big step forward in our partnership with Facebook, bringing more people online in Africa’s most populous country and helping to further narrow the digital divide.

This builds on our vision of using our widespread 3G network to help improve lives and communities by empowering them with access to digital content and services that are tailored to their needs.”

Airtel Africa has worked with Facebook since 2014 in enhancing accessibility to the internet in an affordable

manner through the launch of Free Basics in Zambia, Kenya, Malawi, Ghana, Seychelles and Rwanda. With the launch of Free Basics in Nigeria, millions more people will have the ability to access basic services, Airtel and Facebook said in a joint statement.

The Vice President of Internet. org at Facebook, Chris Daniels, said: “Bharti Airtel Africa has been an important partner in bringing connectivity and access to people across Africa. Our partnership has played a key role in helping bring digital content and services to people and communities in growing

countries.”

The Director of Global Product Partnerships at Facebook, Ime Archibong, added: “We have spent time with the developer community in Nigeria to understand how we can help people in the country build and create for their communities, and by bringing Free Basics to Nigeria we hope to provide another platform for developers to bring relevant services to people free of charge. At launch, we have more than 85 services included in Free Basics and hope to spur more development to bring relevant, basic services to Nigerians.”

Bharti Airtel Africa, the parent company of Airtel Nigeria, on Tuesday in Lagos, announced a business collaboration deal with Facebook, that will enable Airtel Nigeria subscribers have access to basic and free internet services on their mobile devices, while using a connected Airtel SIM card.

The deal entails that Nigerian subscribers connected to the Airtel mobile work will be able to access all the services that are available on the combined platform, through ‘Free Basics’ without paying extra for data charges or rental.

The Chief Executive Officer of Airtel Nigeria, Mr. Segun Ogunsanya, said that with the free internet access, Airtel subscribers could dial *141# to start using the free and basic services.

According to him, “The collaboration marks a significant milestone in our nation’s drive towards deepening digital connectivity and enhancing mobile broadband access for millions of Nigerians in line with the key objective of Nigeria’s National Broadband Plan. It is our belief that this partnership, the first of its kind in Nigeria, will create a plethora of opportunities for millions of Nigerians, empowering them to connect to their dreams, realise their full potentials, and succeed in their professional and personal endeavours.”

Free Basics platform provides basic mobile websites and services for free to people around the world and demonstrating the value the internet can L-R: Wife of the Ogun State Governor, Mrs. Olufunsho Amosun; Chairman, Lafarge Africa Plc, Mr. Mobolaji Balogun and the Governor of provide.

Ogun State, Senator Ibikunle Amosun at the 2016 Ogun State Investors Forum held in Abeokuta…recently

WOOING INVESTORS

Insurance Sector Listed FG to Commence Bidding Round for Bitumen Nigerian among Top 10 African Insurance process”, Fayemi told the (GDP) records a significant Raheem Akingbolu The federal government is set to commence bidding process for prospective investors to explore the vast bitumen deposit in the country.

Minister of Solid Minerals Development, Dr. Kayode Fayemi, who disclosed this during a working visit to bitumen bearing communities in Agbabu area, Ondo State recently, said the licensing round would be for serious investors with proven work and financial plans.

Fayemi said the licence issuing process would be completed before the end of the year.

He however assured the communities of government’s readiness to protect their interest through the right policy and regulations.

Nigeria has the second largest deposit of bitumen in the world, spanning approximately 120 kilometres.

Fayemi, in the company of top officials of the ministry, checked samples of bitumen in Agbabu, Ilubirin and Lado. He later had interactive sessions with leaders of the communities, where he assured them of government’s support.

“We want your mineral to work for you, and we are fully ready to assist your communities to ensure that you get the best from the

community leaders.

The minister said the federal government would partner with the states, investors and the communities to ensure that the enabling environment is created.

He assured them that within the next six months massive work would commence on the bitumen project.

Explaining some of the policies that would be put in place, Fayemi said that emphasis would be placed on exploration and exploitation of the mineral.

Lamenting that about 80 percent of asphaltic materials used for road construction in the country was still being imported in spite of the vast bitumen deposit, Fayemi said government would focus on ensuring that serious investors who have proven work and financial plans are given licences.

“Priority will be given to investors that would build processing plants.

The processing plants will boost local production, which will in turn will help us meet local demands and create job opportunities for our youths.”, the minister said.

The Minister stated that the major focus of the ministry is to ensure that the contribution of the solid minerals to the Gross Domestic Product

improvement from 0.3per cent to at least 10per cent in the near future.

Noting that the Mining sector has witnessed extensive reforms since 1999, which essentially crystallised around the Nigerian Minerals and Mining Act of 2007, Fayemi said the country is again on the path to providing a transparent and workable regulatory and policy environment for a private sector- led mining.

Aside the regulatory framework, which are geared towards protecting local and foreign investments, Fayemi said that a lot of incentives have been put in place to encourage serious minded investors.

“The serious investors will get tax holidays and would be encouraged to bring in mining equipment duty free “, he said. Local investors, according to the Minister, would be supported through access to funding as well as equipment leasing.

He however urged prospective investors to be prepared to play according to set rules and standards “ the ministry would surely subject activities of the investors to proper monitoring in order to ensure compliance with laid down procedures and guidelines.”, the Minister added.

Markets Ebere Nwoji

Nigeria has been enlisted among top 10 African insurance markets, excluding South Africa, whose Non- Life Insurance Premiums, dominated African Insurance sector with market size of over US$ 1 billion each in 2014.

Other countries enlisted in the achievement are Morocco, Algeria, Kenya, Egypt, and Angola.These countries, are next to South Africa, in terms of premium generation in Non- Life business; although at a large distance.

Among the 10 countries, Nigeria ranked third with overall premium income of N386 billion (over Us$1billion).

South Africa, dominates Africa’s insurance markets both in life and non-life business.

Disclosing this at the 43rd African Insurance Organisation’s Conferece and General Assembly holding in Marrakech, Morocco, outgoing President of AIO, Mrs. Lamaia Ben Mohmoud, said African insurance premium volume in 2014, totaled US$ 69billion, showing a slide from US$ 72 billion level in 2013.

Mohmoud, in recent African insurance market survey, published in the maiden edi-

tion of the African Insurance Barometer, said Life Insurance, accounted for about two thirds of the 2014 total insurance premium in the continent ,with the remainder being generated from Non-Life Insurance, which took lion the share of 71% of total premiums in 2014.

The publication said, in Life Insurance, South Africa’s share of the total market was 87per cent, and 40 percent in Non-Life Insurance .

“Insurance premiums, accounted for 2.8% of African GDP in 2014. With the exception of South Africa and Namibia - where insurance penetration levels reached 14% (Life 11.3%, Non-Life 2.7%) and 7.3% (Life 5.1%, Non-Life 2.2%) respectively.”

The publication, however predicted strong Life insurance premium growth in Ghana, Kenya and Morocco, disclosing that in 2014, African Life insurance premiums, stood at US$ 45.8 billion, translating into a Life insurance penetration rate of 1.9%, significantly below the global average of 3.4%.

It said at an inflation adjusted real growth rate of 1.6%, African Life insurance, also grew much slower than global Life insurance premiums, which increased by 3.4% in 2014.

25

T H I S D AY •THURSDAY, MAY 12, 2016

BUSINESSWORLD

E-BUSINESS

All Eyes on NCC as 2.6GHz Spectrum Auction Looms

Nigerians are full of expectations as they await the planned auction of the country’s 2.6 GHz spectrum by the Nigerian Communications Commission next week, writes Emma Okonji

Broadband connectivity

In the last six months, the Nigerian Communications Commission (NCC) has been making preparations for the successful auctioning of the 2.6GHz spectrum, having failed twice in the past.

However, it appears all is set for the exercise, which is scheduled to hold in Abuja next week from May 16 to 19, 2016. The process will begin from preliminary auction to the final auction.

Although NCC has refused to disclose the number of operators that have indicated interest to bid for the 2.6GHz spectrum licence, there are strong indications that majority of the operators must have declared their interests, given the importance of the spectrum for broadband deployment on the 4G LTE technology network, which is the next generation network.

Importance of 2.6GHz spectrum According to NCC, the planned auction of the 2.6GHz spectrum licence would enhance the availability of spectrum for speedy deployment of broadband services across the country.

The commission said the spectrum would also create opportunity for the deployment of advanced wireless 4G Long Term Evolution (LTE) technology services, as well as improve standardisation and harmonisation of telecoms operations. Director, Spectrum Administration at NCC, Mr. Austin Nwaulune, who made the disclosure during an interactive session with journalists in Lagos recently, said the importance of the 2.6 GHz spectrum to broadband development and penetration, compelled the NCC to release an Information Memorandum (IM) on the auction of the spectrum.

The 2.6 GHz band, which spans 2.5 GHz band to 2.7 GHz band, is generally considered to cover the frequency range between 2500-2690 MHz, although there are some minor national variations among countries in the use of the frequency band.

The 2.6 GHz band is often referred to as the IMT-2000 expansion band II and is sometimes called the 3G expansion band.

The planned process According to Nwaulune, the licence is for 10

years and the auction will be carried out in an ascending clock auction.

The auction process commenced with the publication of the resumption of the 2.6GHz frequency spectrum auction notice on February 25, 2016, which was followed by a period for the submission of questions to the commission, relating directly to the licensing process defined in the information memorandum, and the period elapsed in April 16. By April 29, the application was closed to all operators, to give room for the auction committee to scrutinise the applications and inform those that will qualify for the bidding exercise.

The actual bidding, which commences with preliminary auction exercise, will begin next week from May 16 to 19. By June 10, 2016, spectrum winners must have made full payment for the licence won, and by June 13, 2016, the NCC will announce the winners that complied with full payment directive.

The spectrum is considered to be a valuable national resource for which commercial opportunities exist. Stating the pre-qualification process to participate for the 2.6GHz bid, Nwaulune said applicants would not have to be licensed network operators in Nigeria, but must be registered with the Corporate Affairs Commission (CAC).

The applicant must transfer an Intention-toBid Deposit (IBD), which is 10 per cent of the total amount for the number of lots the bidder intends to acquire from among the available 14 lots that the NCC is auctioning. For instance, the reserve price for each lot of the 2.6GHz spectrum is $16 million and if an operator indicates to acquire six lots, the operator will pay 10 per cent of the total $96 million for the six lots, which is $9.6 million, as part of the pre-qualification process.

Also, the bidders must not have any relationship among themselves during the biding exercise and a relationship is established when a bidder has directly or indirectly, an ownership stake of 10 per cent or more in another bidder. The spectrum will be offered on a technology neutral basis and shall be used for national rollout.

Time lag for rollout for those that will emerge

winners, is put at one year and any operator that fails to rollout within the one year time frame, will automatically lose the licence.

Stakeholders’ expectations Most Nigerians, especially telecoms industry stakeholders, have continued to commend the management of NCC for its resilience to auction the 2.6GHz spectrum, despite failing twice in the past.

They are specifically happy that the 2.6GHz spectrum licence would create headroom for the availability of enough spectrum for the deployment of broadband services and infrastructure across the country.

Worried about the poor state of broadband penetration in the country, which is currently put at 10 per cent, the President of the Association of Telecoms Companies of Nigeria (ATCON), Lanre Ajayi, commended the NCC for its renewed efforts to licence the 2.6GHz spectrum, which he said, would boost broadband deployment and penetration in the country.

Ajayi, who commended NCC for the level of professionalism and transparency exhibited so far in the planned process of the 2.6GHz spectrum auction, also advised the commission to ensure that it concludes the process as planned, to enable Nigerians who are in need of broadband services, to enjoy the full benefits of broadband.

A subscriber to Globacom and a civil servant with the Lagos State Ministry of Education, Mr. Joseph Ibe, also commended NCC for the planned auction of the 2.6GHz spectrum. He explained that the move would not only increase the availability of spectrum for broadband deployment, but would also reduce the high cost of bandwidth in the country. He explained that the cost of data bundle in Nigeria across networks is still on the high side and expressed confidence that the 2.6GHz plectrum auction would drive down cost of broadband bandwidth, when it is able to create additional broadband capacities for the country.

“We hope that NCC will get it right this time by successfully licensing operators on the 2.6GHz spectrum band,” Ibe said.

2.6 GHz spectrum in other countries Licences on 2.6GHz have been issued in several countries to date, notably Norway, Sweden, Finland, Singapore, Hong Kong, the United States, United Kingdom, Ghana. More 2.6 GHz auctions are anticipated over the next one to two years in multiple national markets.

Research has shown that 108 networks globally have launched the 2.6GHz, at national and regional levels, depending on country’s needs and rollout criteria.

More auctions are expected in Europe as well as in major emerging markets such as Brazil and South Africa.

Nigeria, no doubt, will soon join other countries that have licensed the 2.6GHz frequency spectrum by next week, to enable her citizens enjoy the many benefits of the spectrum if the planned auction is successful.

Other planned spectrum licences Apart from the planned auction of 2.6GHz spectrum licence, the NCC is also planning to auction other spectrum licences that will facilitate faster broadband deployment across the country.

They include the expansion of the existing 23GHz spectrum licence from its current 7MHz to 28MHz from May 30th, 2017, and the fresh licensing of 38GHz and 42GHz spectrum bands.

The fresh spectrum licenses, according to NCC, would provide the much needed spectrum that operators would need to address the increasing demand for broadband services in the country.

Speaking on the importance of licensing additional spectrums in the country, the Executive Vice Chairman of NCC, Prof. Umar Danbatta, said: “The emerging trend in the telecoms sector in Nigeria today, is broadband, which will certainly require massive deployments in terms of critical infrastructure, if the country is to achieve the set target of government of 30 per cent broadband penetration by 2018.

The growth of broadband traffic is on the increase and therefore, additional spectrum resources would be required to avoid network challenges.”

26

T H I S D AY •THURSDAY, MAY 12, 2016

BUSINESSWORLD

E-BUSINESS

Visafone’s Long Journey to 4G LTE Emma Okonji writes that the migration of Visafone subscribers from the Code Division Multiple Access technology to 4G LTE technology on the MTN network, is a blessing in disguise for Visafone subscribers

Visafone Chairman, Jim Ovia

When Visafone came on board in August 2007, it acquired Cellcom that same year, one of the 13th registered CDMA operators, also known as Fixed Wireless Operators. By the following year, 2008, Visafone also announced the acquisition of Bourdex Telecom, which at that time, had coverage in almost 10 South-eastern states, and providing telecoms services in the Eastern Nigerian telecoms market.

Visafone later acquired ITN, another CDMA operator in the lucrative Lagos market, and promised CDMA subscribers that it would take advantage of its national spectrum, which is the 800 MHz spectrum licence to establish a nationwide roll-out telecoms services in the 36 states of the federation.

However, little did the company know that it will later face stiff market challenges that will lead to its acquisition by MTN, a Global System for Mobile Communication (GSM) operator.

It was a long journey for Visafone that was once the leading operator in the CDMA space in Nigeria, until it ended up in the hands of MTN on January 5, 2016.

The acquisition of Visafone by MTN was occasioned by the dwindling fortune of CDMA operations in the country, a situation that forced all other fixed line operators out of market, remaining only Visafone with less than 2 million subscribers. But the acquisition, however, brought succor to the poor state of fixed wireless operations in the country, as the new owner of Visafone has successfully migrated all Visafone subscribers to its 4G LTE network, that will be commercially rolled out in July this year.

Change of initial plan The initial plan at the point of acquisition was that MTN will run Visafone as a fixed wireless operator along side its GSM operations. However, the plan changed, which the company attributed to the effect of market forces and competition.

MTN had agreed with the Nigerian Communications Commission (NCC) the telecoms industry regulator, to run Visafone as a CDMA company, but later realised that the CDMA technology is quite different from the GSM technology, which MTN operates, a situation that made the company to rescind its earlier decision.

NCC, it was gathered, gave approval to MTN to acquire Visafone on the ground that it would resuscitate the dying CDMA

MTN CEO, Ferdi Moolman

sector, where Visafone was operating as the only surviving CDMA operator in the country, along side MultiLinks that still offers skeletal services to very few subscribers on its network.

Executive Vice Chairman of NCC, Prof. Umar Danbatta, while approving the acquisition insisted that MTN must revive Visafone and run it as a fixed wireless operator. He equally emphasised the need for the resuscitation of fixed wireless operations in Nigeria in his 8 point agenda, which he presented to the media, during an international press conference in Lagos in February this year.

Two months after the acquisition, it became glaring that MTN was no longer interested in running Visafone as a fixed line operator, when it announced its plan to migrate its subscribers to its 4G LTE network.

Disclosing the initial plans on how Visafone would be managed, Corporate Services and Human Resources Executive of MTN Nigeria, Amina Oyagbola, had said that the acquisition, was reflective of MTN’s efforts to deepen the growth and rollout of broadband services across the country in support of the National

The acquisition had generated comments and reactions from industry stakeholders.

Fears enveloped the entire fixed wireless sector, ranging from fears as to job losses, fate of Visafone Communications as a business entity and one of the surviving CDMA operator But those fears seem to have been put to rest following the successful migration and integration of Visafone subscribers

Broadband Plan for the benefit of Nigerians.

Visafone, according to her, “is one of the leading CDMA/ICT companies in Nigeria offering a number of services including voice, high speed data (3G), internet and other Value Added Services (VAS). Visafone also provides business solutions to small and medium sized companies and corporate organisations in Nigeria.”

She further said: “We are committed to exploring avenues for meeting our customers’ increasing data needs in line with our vision to lead the delivery of a bold new digital world to our customers. As we work to maximise our data capabilities towards achieving broadband of international quality, our objective is to ensure that Nigerians experience a boost in the quality of broadband internet services translating to the much needed enhanced data speeds and value to enhance personal and business productivity.”

Benefits of migration Two months after the acquisition of Visafone, MTN announced that it would be migrating subscribers on the Visafone network to its GSM network. In a number of ways, this move became a significant one for Visafone subscribers. The subscribers are still using their Visafone numbers on the MTN network, enjoying the benefits of high speed data connectivity and they are even exposed to other offerings available on the GSM network.

To further strengthen Visafone subscribers’ confidence on the 4G LTE network, MTN embarked on a series of stakeholders’ fora aimed at ensuring a seamless migration of subscribers.

The stakeholders’ forum held simultaneously in Abuja, Port Harcourt and Lagos with representatives from the NCC, Visafone dealers as well as individual and corporate customers of the company.

Speaking at the forum held in Abuja, the General Manager, Consumer Marketing, MTN Nigeria, Richard Iweanoge, appreciated the subscribers for their patience and the understanding showed during the period of migration from CDMA to the new GSM platform of MTN. He said: “We appreciate our subscribers for their understanding even as Visafone begins the process of migration to the MTN platform.

We intend to make the process as seamless as possible. So as a part of our strategic initiative, we have organised these forums across the country to engage and interact with all active Visafone subscribers across board before the

final implementation of the migration.”

Iweanoge stressed that MTN’s take-over of Visafone’s operations would benefit all stakeholders, while also adding that the company will continue to seek out ways of engaging Visafone subscribers.

“We are confident that this development will be a win-win situation for all parties concerned.

At this point, we believe engagement is key so we will continue to create opportunities where we, as the service provider, can get to know our subscribers in order to serve them better,’’ he noted.

Justifying the migration plan Speaking on the importance of the migration exercise, Iweanoge explained that subscribers moving from Visafone to MTN would still have the opportunity of retaining their Mobile Station International subscriber Directory Number (MSISDN). He added that subscribers would be compensated by doubling the airtime they previously had before migration.

Iweanoge further noted that Visafone subscribers had a four-week window period for all active Visafone subscribers to register their new SIMs in line with the directives of NCC. While listing some of the support services available for Visafone subscribers, he stated that over 400 MTN and Visafone outlets have been opened to customers of the network operator to provide assistance while the 222 customer care numbers can also be accessed for enquiry, complaints and request in respect to the migration and other issues.

A new hope for Visafone subscribers Although it may appear that the acquisition of Visafone by MTN has finally nailed CDMA operations in Nigeria but most telecoms experts still believe that move has saved the operations of Visafone from going into extinction.

They added that it has also helped in keeping Visafone subscribers intact, while still operating as Visafone on a GSM network.

The acquisition had generated comments and reactions from industry stakeholders. Fears enveloped the entire fixed wireless sector, ranging from fears as to job losses, fate of Visafone Communications as a business entity and one of the surviving CDMA operator. But those fears seem to have been put to rest following the successful migration and integration of Visafone subscribers into the MTN network. Today, there is a new hope for Visafone subscribers and the entire CDMA sector.

T H I S D AY •THURSDAY, MAY 12, 2016

27

BUSINESSWORLD ‘Broadband Will Boost Ailing Nigerian Economy’ The Nigeria ICT Impact CEO Forum (NIICF) and the Africa Digital Awards (ADA) have stressed the need for fast broadband deployment in the country to resuscitate the Nigeria ailing economy.

Organisers of the forum said government must begin to look inwards on how best to deepen broadband penetration in the country for national development. Based on the foregoing, the focus for this year’s award is built around how the deployment of broadband could aid the ailing Nigerian economy and place it on the road to recovery.

A statement signed by the coordinator of the forum, Tayo Adewusi, said “if Nigeria’s economy must catch up with the rest of the world in terms of technology development, government must begin to develop ideas around fast broadband deployment in the country.” He expressed fears that data services have not recorded the same growth as voice, even though key trends have indicated that there would be high demand for data, to address the expected big data explosion that is already sweeping across the globe.

He frowned on the situation where Information and Communications Technology (ICT) is still being considered as the fastest growing sector in Nigeria, yet the growth rate is not as rapid as expected.

He said government should begin to build robust broadband infrastructure across the country

to help drive digital revolution in Nigeria, which he said was imminent.

“Industry experts have posited that ICT is the next ‘oil and gas’ but government has to start implementation of certain ICT processes to achieve and substantiate the claim, as this is the only way to meaningful success in the ICT space,” Adewusi said.

He also condemned a situation where most of the broadband capacities are clustered at the shores of the country and suggested the need for government to build a national backbone infrastructure that would be used to transmit broadband capacities from the shore of the country to the hinterlands, where the services are most needed.

“How do we transport the huge capacity inland? There is an obvious absence of efficient distribution and dearth of last mile connection. However, there has been an appreciable growth in e-commerce and this can be properly harnessed through a significant broadband penetration,” he said.

Adewusi affirmed that broadband is a goldmine, stressing that the recovery of Nigeria’s economy is dependent on this goldmine. According to him, this will happen through the provision of the enabling environment, adding that broadband deployment should be predicated on availability, affordability, and quality of service delivery.

Nigeria Set for Gitex 2016 Nigeria has begun preparation for the 2006 global annual technology exhibition tagged Gitex.

Part of the preparation is the inauguration of the Local Organising Committee (LOC) in Nigeria by the acting Director General of the National Information Technology Development Agency (NITDA), Dr. Vincent Olatunji, as well as the commencement of the official selection process of the country’s technology startup champions that will pitch at the Gitex Startup Movement.

Two years ago, Nigeria was nominated as the official country partner of Gitex, and the country participated fully.

According to NITDA, about $1 million (N200 million) is up for grabs for the winning startups. Nigeria, through NITDA, plans to promote a minimum of 10 technology startups to pitch for business at this global startup gatherings expected to have over 400 startups.

The Gitex Week 2016 features the Innovation Hub around which the Gitex Startup Movement has been designed to house competing startups.

The global startup ecosystem will be convening at GITEX 2016 with more than 2,000 entrepreneurs, investors and mentors from over 30 countries expected to provide the fillip to do deals on technology innovation.

“NITDA will hinge its 2016 Gitex participation on the promotion of Information and

Communications Technology (ICT) startups as the country aggressively pursues foreign earnings in non-oil sectors,” Olatunji said in Abuja during the Gitex 2016 LOC inauguration.

He tasked the LOC members to commit time and wits to ensuring that Nigeria achieves its objectives for being part of the Gitex, now touted as the biggest technology event in the Middle East, South East Asia and Africa.

“Our participation in Gitex over the years has really benefitted the country in many ways.

It has attracted investments to the country, and two of our startups that showcased their innovation at last year’s event have been engaged by a Malaysia company. I keep on telling people that ICT is the credible alternative to oil.

Through ICT the country could gain quickly what it had lost to oil in the last few years since the oil price started nose diving.

So, I urge this LOC to do this work diligently as if there is no tomorrow.

You may be helping the country back on the path of honour and pride,” Olatunji said. As part of the efforts to boost the value of Nigeria’s participation and enlighten potential investors at the five day event on the country’s non-oil sectors, he said the country would organise an ICT investment forum. About 150,000 trade visitors from over 144 countries are expected at Gitex 2016.

E-BUSINESS

ISPON Intensifies Efforts in Local Content, Software Development Stories by Emma Okonji The recently elected executive members of the Institute of Software Practitioners of Nigeria (ISPON) have promised to sustain the drive for local content in software development.

Olorogun James Emadoye, who emerged as the President of ISPON in an election conducted penultimate week in Lagos, promised that the newly elected executives would build on the existing legacy of the past executives in the area of local content development in order to boost job creation in the county.

Emadoye made the disclosure

in Lagos, while receiving the handover document from the immediate past President of ISPON, Pius Okigbo Jnr. “We have a vision to make locally developed software attractive to Nigerians and make Nigerian investors in software to see reasons why they should invest in locally developed software from Nigeria. The essence is to reduce financial waste in the process of buying foreign software to run their businesses in Nigeria.”

He said ISPON would achieve its aim through the pursuit of the necessary policies, making government and Nigerians to understand what local software can do for them.

He is of the view that if government could not patronise locally developed software from Nigeria, then government should not have business in training software practitioners in various tertiary institutions, who will graduate to join the local software developers in developing local software that will address Nigerian needs.

He said the issue of standard as a condition for patronising foreign software at the detriment of locally developed software, would be addressed by the new elected executives.

Responding to the issue of standard, Okigbo called for caution, insisting that standard in software practice varies from

country to country and that Nigerians have over time, been able to develop software that meets the standards of organisations and government agencies that depend on software programming. Emadoye said the issue of software piracy is no longer a serious threat to software business, because software that operates in the cloud, has less vulnerability due to the high security level.

Emadoye, who is a consummate software developer and Managing Director of BSSL Technologies Limited succeeds Okigbo Jnr as President of ISPON following the annual general meeting of ISPON held in Lagos.

FACTS AND FIGURES

L-R: Human Resource Director, Nigerian Breweries Plc, Mr. Victor Famuyibo; Managing Director/Chief Executive Officer, Mr. Nicolaas Vervelde and Finance Director, Mr. Mark Rutten at the Nigerian Breweries Pre-AGM Press Conference, held in Lagos...recently

ASUS AnnouncesVivoBook Flip TP200 Series ASUS has announced VivoBook Flip TP200, an exciting new thin and light addition to the innovative VivoBook Book Series family of convertible Windows 10 laptops.

VivoBook Flip TP200 features the revolutionary reversible USB Type-C port for easy connection of peripherals, along with all the latest technology including the newest Dual-core Intel Celeron N3050 processor and pre-installed Windows 10.

ASUS Country Product Manager (Notebook) for Nigeria and Kenya, Simplice Zaongo, said: “ASUS TP200 has a footprint smaller than a sheet of A4 paper, and is thinner, lighter and more compact than ever before. VivoBook Flip TP200 is just 18.45mm thin and weighs a mere 1.2kg. With up to 8 hours battery life, it’s perfect for all-day on-the-go work or play.” According to him, the innovative 360-degree hinge, with its robust multi-gear alloy steel construction, allows Flip TP200’s high-quality IPS screen, with its wide viewing angles to be flipped instantly to any angle for the ultimate versatility. ASUS TruVivid display technology ensures crisp, clear colours even in bright environments.”

The elegant VivoBook Flip TP200 has a tough metallic

finish that is stylish and scratchresistant, and is available in a choice of two chic colours, Dark Blue or Crystal Silver.

The VivoBook Flip TP200 features the revolutionary new and reversible USB Type-C port that makes connecting devices so much easier, with no more time wasted working out which way up to connect the cable.

The more compact design of this port design also helps keep Flip TP200 ultra-slim, and ensures much better usability.

Fast USB 3.1 Gen 1 with speeds up to 5Gbit/s, enables highspeed data transfers up to 10 times faster than USB 2.0. For maximum user convenience and compatibility, ASUS TP200 also includes standard USB 3.0 and USB 2.0 ports, along with a micro HDMI port for connecting an external display.

“The 11.6-inch VivoBook Flip TP200 is the thinnest, lightest and most compact Transformer Book Flip ever, featuring a footprint smaller than a sheet of A4 paper. With a thickness of only 18.45mm and weighing a feather-light 1.2kg, Flip TP200 is the perfect take-anywhere device that’s always ready to go, and always to hand for work, for sharing or for simply relaxing, “ ASUS said in a statement.

StarTimes Launches Indigenous Entertainment Channel StarTimes has launched a new premium indigenous entertainment channel with rich cultural Yoruba and African themes called ST Yoruba.

The channel, which went on air on May 1, 2016, will enable movie enthusiasts in Nigeria to enjoy more entertainment on digital television.

The new channel, which airs on Channel 160 on digital terrestrial and channel 412 on digital satellite platforms was designed to showcase the rich cultural heritage of the Yoruba nation and as a 24-hour general entertainment channel follows the success of ST Dadin Kowa enjoyed by the Hausa viewers.

Announcing the new channel, StarTimes Marketing Director, Dare Kafar, said: “StarTimes is very excited to announce the arrival of its new Yoruba movie channel.

It has been in our plans to give more to our movie loving subscribers. They deserve a glamorous channel that gives maximum satisfaction.

And with this, they will be thrilled and enjoy maximum entertainment.”

He added “This channel has been designed to build cohesive family viewing with

a fine blend of classic and contemporary Yoruba movies, cultural shows, celebrity news, historical shows, behind the scene programs, celebration of movie icons and other lifestyle programs.

The channel blends universal appeal with local flavour and appeals to viewers across South Western Nigeria States, the Yorubas locally and in diaspora, as well as other viewers and fans of Yoruba culture and entertainment across Africa. The launch of ST Yoruba was a highly strategic move which will help to display the rich Yoruba culture in all its glory to a global audience.”

He explained that ST Yoruba as a lifestyle channel generally, would include fiction-based social family dramas, fun-filled chat shows, high-voltage action reality shows, and blockbuster Yoruba movies. “ Local producers will be empowered to produce top rated contemporary contents that will be of high cultural value and most appealing to the viewership. Indeed, ST Yoruba will become the cultural, political and social integration of the Yorubas as a desirable development agenda partner, “Kafar added.

28

T H I S D AY • THURSDAY, MAY 12, 2016

BUSINESSWORLD Creativity is Key to Interior Decor, Says DO.II Designs DO.II Designs, one of Nigeria’s leading furniture and design companies has said the beauty and strength of any furniture, largely depend on creativity and vision that accompanied such furniture.

The furniture and design company therefore called on Nigerians, especially those with taste and aesthetics for quality furniture, to always look out for designs that come with in-depth creativity that appeals to their vision and style, while making a choice for furniture.

Speaking on the essence of creativity in furniture making at a press conference in Lagos recently, the Chief Executive Officer of the company, Ifeyinwa Ighodalo, said creativity would bring out the beauty and quality of a furniture and assured Nigerians that DO.II Designs has all it takes to make the best of furniture for all interior decor, given its over 25 years’ experience in furniture making and interior decor.

The company which rebranded in 2013, with focus on interior decor for corporates and private homes, has its factory certified by the Standard Organisation of Nigeria (SON) and located in Ojota, Lagos, with plans to expand outside Lagos in order to address a larger market audience.

“Our desire is it continually evolve as Nigeria’s leading furniture and design company totally aligned with global

best practice, while ensuring that we offer our clients not only the finest in superior craftsmanship, but also an increasingly rich bouquet of service and product offerings.

We are proud of the fact that we are the only indigenous company, not just by birth, but by design,” Ighodalo said.

Aside providing bespoke furniture and interior solution offerings, DO.II Designs also offers other services such as window treatment, turnkey construction service and a full after-sales service among others.

According to Ighodalo, DO.II Designs offers a plethora of unique products and full service solutions for corporate and private bodies, with six months warranty. It has its showroom situated in Victoria Island, Lagos.

Addressing the issue of pricing, Ighodalo said the products are affordable and addresses the needs of different categories of workers, while still maintaining quality that is built on creativity.

She however said the company is planning a purchase module, where it would collaborate with banks and leasing companies for a flexible credit structure that would enable Nigerians own quality furniture of their choice. DO.II Designs encourages capacity development by employing locally to build the furniture sector in Nigeria, Ighodalo added.

Expert Calls For Global Stakeholder Engagement on 5G Standards The Chairman, Commonwealth International Telecoms Group (ITU) Group, Dr. Bashir Gwandu has called on all Fifth Generation (5G) systems engineers and standards developers to ensure full engagement with key stakeholders around the globe when developing 5G standards for the technology to succeed and avoid the pitfalls of other technologies such as the Wimax and 3G. Gwandu made the call in London during his analysis of the 5G development efforts as part of his presentation on “Delivering a sustainable and long-term 5G future” at the recently concluded 2nd International Conference on 5G Hurdle 2016, organised

by Wireless World Research Forum –a group of leading experts and researchers on 5G networks in association with Forum Europe.

Gwandu spoke on a number of strategies that the experts need to adopt for 5G to have a sustainable future.

In particular he spoke on ensuring sustained research effort; Global stakeholder engagement and collaboration; Innovative regulation and policy development; Technical Standards harmonisation and spectrum availability and early release; Infrastructure design and harmonisation;

Co-existence and network interference minimisation; Security, Privacy, Resilience, and Reliability; and Partnership and funding.

On research effort, Gwandu suggested more focus on latency reduction, resilience, availability for confidence building, Spectral efficiency and Speed, Mobility, and antenna versatility. He spoke on timely spectrum release and adequate planning and harmonised slots/channel arrangements.

On innovative policies, he spoke on technology neutrality, infrastructure deployment and coverage, accurate digital and regular update of highresolution maps and accurate positioning, Weather and ecological consideration in antenna deployments, among others.

Gwandu was very emphatic about the need to carry all key stakeholders and major end-users along in requirement capture for standards development –mentioning some stakeholders such as governments, regulators, verticals such as auto-manufacturers, transport and logistics industries, retail and general, fast-moving consumers goods sellers, health and social care institutions, business and financial services, and experts from various user groups.

E-BUSINESS

Forum Challenges HR Practitioners on Professionalism Stories by Emma Okonji A forum organised by Oomph Nigeria for the training of Human Resources (HR) practitioners, as well employees and employers of labour, has challenged HR practices to live up to expectation in recruiting and management of employees.

The forum stated the need for proper engagement and management of employees was borne out of the current trend where young employees are quick and eager to change jobs as a result dissatisfaction at their places of work.

The forum advised HR practitioners to always employ people with relevant skills for the right positions, and ensure that employee welfare is not compromised.

The forum, which frowned

to the high rate at which young employees disengage from workplace, called on HR practitioners to constantly engage employees without overstretching their work limit, and always provide the requisite training programmes that will constantly update their skills and build up their interest in their respective jobs.

Professionalism is the key to the growth of any business and HR practitioners must address the issue of professionalism in driving the culture of an organisation, and in maintaining balance skills at workplace, the forum said.

Speaking at the forum, the co-Founder of Oomph Nigeria, a company that is centred on employee engagement, Adedotun Lawal, said: “We have since realised that there

is urgent need for Nigerians to reshape the way and manner they treat employees in different organisation. At Oomph Nigeria, we help organisations to see the need to treat their employee a lot better. It is the duty of the HR department to shape employees and employ people based on relevant skills and what they could do with their acquired skills.”

According to him, in the next five to nine years, the younger generation will take up leadership roles in organisation, so there is need to address the youth segment on how best to make inputs at their place of work and employers need to understand the importance of employee welfare to enable them bring out their best at work place.

“Today young people are

eager to move from one organisation to another because of job dissatisfaction, caused by their employers. There is no work balance and they spend long hours at work and in traffic and they are left with little or no time for themselves and families,” Lawal said.

He added that the reason for lapses in organisations was because HR is no longer as effective as it should be and they are not part of the decision making bodies of organistions.

HR are supposed to be part of management team and should be able to sit with chief executives of organisations during decision making but most times this is not so, as most HR practitioners are put aside when it comes to taking certain decisions in the company Lawal said.

FOR EFFECTIVE REVENUE DRIVE

L-R: Chairman, kano State Internal Revenue Service, Mr. Sani Dambo; General Manager, Heritage Bank, Mrs. Moji Oladunni; Executive Secretary, Joint Tax Board, Mr. M.L. Abubakar; President, CITN, Dr. Olateju Somorin; Chief Executive Officer, Intermarc Consulting, Adeyinka Adeyemi; Chairman, kwara State Internal Revenue Service, Dr. Mustafa Awaodun; Director, Systemspecs, Mr. Deremi Atanda and Chief Executive Officer, Heritage Bank, Femi Sholeye, at the e-Revenue event organised by Intermarc Consulting in Abuja...recently

Microsoft, Dynamiss Learning Solution Microsoft is partnering with Dynamiss Digital Learning Solutions Limited, a teaching and learning digital solutions company to unveil the LP+365 classroom solution.

The LP+365 classroom solution is a cloud-based learning platform which transforms the Microsoft Office365 into a school’s virtual learning environment, enabling teachers to design and plan the curriculum, deliver subject material, manage coursework and communicate with learners using simple drag and drop technology.

The application which will be unveiled soon at “The Future of Learning” Conference, will offer those who attend, a chance to gain exclusive access to free Microsoft Teaching, with technology training hosted by the Microsoft Nigeria Education team. Participants will also get a chance to win the latest Tablets, Phones and more from Microsoft on Wednesday, May 18, 2016 at

Unveil Ibu Becomes Kingdom Lottery Ambassador

the prestigious Civic Centre, V.I, Lagos during the event.

Commenting on the initiative, Education Programs Manager, Microsoft Nigeria, Jordan Belmote said Digital literacy is neither an option nor a luxury, rather it is an essential part of studying, working and living in the twenty-first century.

Belmote added that, “This is the real deal for every educator, the Dynamiss LP+365 solution provides the students with an “Always-On” learning experience anytime, anywhere - home, school or in the library. Students can access the platform through mobile devices using Microsoft productivity tools to do everything from taking notes, submitting coursework to collaborating with their classmates on projects. The platform brings together the best of Microsoft cloud technology and Office365 to create an engaging and intuitive, personalized learning environment for teacher-student interaction.”

As part of their blue print to revitalise lottery business in Nigeria after being licensed to operate by the National Lottery Commission, Kingdom Lottery has unveiled Nollywood’s foremost comedian, John Okafor, popularly known as Mr. Ibu as its Brand Ambassador.

Speaking to news men shortly after the paper signing exercise recently in Lagos, the Company Representative Mr. Yalon Zilberkwit expressed fulfillment and optimism that this partnership will help in projecting the image of Kingdom Lottery across the country and beyond. He explained that gone are the days when people see Lottery Business as fraudulent, he said that the lottery sector is as important as any other sector and deserve serious minded investors who will add to the national GDP by way of empowering the Youths as retail Agents and also putting smile on people’s face.

He went further to say that Kingdom Lottery is poised to take the sector steps ahead of what is obtainable in the

country. “Kingdom Lottery is uniquely different, because ours is a win-win situation for everyone because even the loser stand a chance to win at the periodic Consolation Draws provided they return the tickets as instructed”, Zilberkwit said.

An elated, Ibu thanked the management of Kingdom Lottery for setting a new pace in lottery business in Nigeria. He said he decided to key into what they are doing as a lottery company because of what he saw on ground and the level they are ready to take the business to. He also urged the general public to embrace the opportunity that Kingdom Lottery is presenting to empower Nigerians.

“I will like everybody to play Kingdom Lottery because their Lottery is very easy to win, transparent, genuine, and it is much easier to collect your cash without any form of delay as in case of other lottery companies.

I recommend Kingdom Lottery to everyone who love to win,” Ibu added.

T H I S D AY •THURSDAY, MAY 12, 2016

29

BUSINESSWORLD

cONSUMER

Riding on Reward Schemes to Connect to Consumers The resolve of players in the nation’s cement market to deepen their penetration has become a blessing for consumers who now enjoy promotions and partnership rewards, Raheem Akingbolu reports Competition for leadership in the cement manufacturing sector is among the toughest in the market. In a country, where many players are making efforts to appeal to customers, cutting edge strategies are daily being put in place to sustain strength. As at the last count, about eight names are making efforts to have substantial share of the market. But of these names, Lafarge Africa Plc., BUA and Dangote cement are in the forefront while Ashaka, UNICEM Cement Company and the Cement Company of Northern Nigeria (CCNN), dominate their respective regions. It is difficult to write-off the smaller players because they have in a way, turned the nation’s infrastructural deficiency, which brought about high haulage costs, into an advantage. Players in this level are closer to consumers in their domain than the bigger ones that cut across the geo-political zones.

To meet the country’s infrastructure needs, the sector is growing faster than it was a few years ago. The bigger cement companies are beginning to think out of the box to consolidate on their strength. Despite their huge investment in technology, they are bonding more with consumers through advertising and other marketing tool.

Last year, the industry embraced promotion to reward customers, who are loyal to their products. To cap it up, distributors of the various brands are being rewarded annually for their contribution to the growth.

Competition Unlike the competition in the Fast Moving Consumer Goods Industry (FMCG), which is easily noticed by an average person on the streets, trade partners and stakeholders are the main people who feel what happen in the cement sector. According to an analyst, Mr. Wale Okoya, this is one of the reasons why the top players in the market invest more in business expansion and servicing of their marketing channels.

“Obviously, no sector of the economy can do without advertising and other elements of marketing but one of the major things a manufacturer should consider is how to win the confidence of its trade partners. The partners, especially the distributors, should be able to know if the company they are dealing with has the capacity to meet consumers’ demand, both in terms of quality and products availability,” he said.

According to Okoya, this informed the various developments at Lafarge and Dangote in the recent time. It would be recalled that in a move to satisfy customers’ demand and improve on the volume of cement available in the Nigerian market, Lafarge Cement WAPCO Nigeria Plc in the year 2014 commissioned its new 2.5 million tones Lakatabu plant in Ewekoro.

The new plant was said to have capacity to double the production of the overall capacity of Lafarge cement products, including Elephant Cement and Elephant Supaset, supplied into the Nigerian market.

In the same manner, the management of Dangote Group has taken similar steps in recent time to assure stakeholders of its readiness to further grow the market. The latest was the commissioning of the group’s new plant in Okpella, Etsako East local government of Edo State.

Lafarge WAPCO, trade partners relationship Of all the tools in its marketing kit, maintaining good relationship with trade partners appear more important to the promoters of Lafarge Africa Plc, a subsidiary of Lafarge Holcim.

In the last five years, the company has not only used its annual reward for distributors to strengthen relationship with them but has used it to win more patrons.

To the cement manufacturing company, the common saying that the ‘Customer is King’ has become a watchword, with which it connects

L-R. Chief Executive Officer, (Cement) Lafarge Africa Plc, Mrs. Adepeju Adebajo; wife of winner, Mrs. Ubong Obot, Managing Director, Ubotex Ltd, Uyo and winner of 2016 Honda CRV, Mr. Ubong Obot; Chairman, Lafarge Africa Plc, Mr. Bolaji Balogun; and Sales Director, Lafarge Africa Plc, Mr. Sam Ndionyenma, during the 2016 edition of Lafarge Customer Awards in Lagos...recently

distributors. This was demonstrated recently in Lagos, where outstanding distributors for the year 2015, were appreciated for their patronage and unwavering loyalty over the years.

Objectives The award ceremony, which is the seventh edition, is designed to appreciate the support enjoyed by the company from its numerous customers nationwide and avail the customers of the company’s initiatives aimed at serving them better. Such event has in the recent years, taken place in Ibadan, Akure and Abeokuta among other places.

Expressing the company’s appreciation to its trade partners for the relentless contributions over the years, the Chairman, Board of Directors of the company, Lafarge Africa Plc., Mobolaji Balogun described the awards as a demonstration of the company’s commitment to constant appreciation of customers who had kept faith with it, even in the face of challenges.

He explained that besides being a reward scheme for its customers, the awards would also go a long way in further strengthening the relationship between the company and its trade partners. The chairman reiterated that the reason behind the annual customer awards was to express the company’s gratitude to the distributors for their support for the growth of Lafarge Africa business in Nigeria.

Looking back at how the brand has grown over the years, Balogun admitted that the distributors have consistently contributed to meeting expectations of outstanding quality and safety that generations of Nigerian professionals and end users have of Lafarge products and services. “We deem it important to continually recognise and energise the existing partnership between us as an organisation and you as our customers by acknowledging and valuing your distinctive impact on the company’s performance.

It is imperative to note that your continued dedication and partnership are paramount for

the past, present and future successes of our company,” he said.

The chairman expressed the company’s commitment to quality standards, while assuring customers that all the Lafarge’s products had been endorsed both within and outside the country.

Significance of 2016 edition In his remarks, the Chief Executive Officer, Cement, Lafarge Africa Plc, Adepeju Adebajo, explained that the award, which was put together to recognise customers’ loyalty and volume performance for last year, was also designed to encourage the company’s customers to extend their frontiers in the market.

Particularly, Adebajo stated that the importance of the 2016 edition of the customer awards, which started in 2005, was its ability to cover the entire operations of the group. She pointed out that it is the first pan-Nigerian award ceremony, that covered Lafarge Africa Plc’s operations in the North (AshakaCem), the South (Unicem) and South West (WAPCO).

“This is the first time we are able to bring all our key customers across the country together to celebrate your contribution to the growth and success of your company – Lafarge Africa Plc.” She stated.

Through the extracts from the nine-month earnings report of Lafarge Africa for the period ended September 30, 2015, it was easy to know the impact of the distributors. It clearly showed that sales rose to N168.14 billion in third quarters of 2015 as against N159.4 billion recorded in comparable period of 2014.

According to the head of retail for the company, Rilwan Yusuf, each year, the group agree on priorities with the distributors. “We look at their performance versus our expectations and on that basis we reward those who have outstanding or exceptional performance. Our aim is to motivate them to better assist us in meeting what the market expects from us. Our

distributors are hence important in making us achieve our corporate objectives and also in making our end users achieve their goals,” he said.

Speaking further, he said it is always very good to compliment the efforts of business partners, adding that their support is important when it comes to their ability to effectively cover the targeted market. “In the last 5 years, I think the award has evolved overtime and every year we try to refine the awards to meet the exigencies of the day because business is not done in a vacuum. Business is also conducted in a way and manner that the economic conditions changes, we also try to make sure that we reflect that in the awards,” he added The winners At the award this year in Lagos, about 36 trade partners were rewarded with various prizes including cars, various electronic gadgets such as LED TVs, generators, Tablets and cash awards as well as corporate products.

At the awards, several dealers went home with numerous prizes including cars, which were given out based on performance. The top performance award of 2016 Kia Sportage was presented to Mabos Ayok Inv. Co. Ltd; Day-Kings Solutions Ent.; Raheed Ishola Ventures Ltd; Batoframog E Ent and Kpaksbuddy Nig. Ltd. While Rosent Invest Ltd. and Ubotex Nig. Ltd. each received 2016 Honda CRV as Special Recognition Award for WAPCO Operations and UNICEM Operations respectively; Maiyaki General Merchant Ltd was presented with 2016 Kia Sportage as Special Recognition Award for Ashaka Operations.

Following the trend, Temitope Oil Nigeria Ltd, Ebony D Great Ent; Jolly Friends; Ibukun Oluwa Ent., U Meakasons, John-Jeff Nig. Ltd, Rose Sej Business Ent Ltd, and Adamu Mohammed Aba received the Regional Champions Award for an all-expense paid trip to Cape Town, South Africa for their efforts.

30

T H I S D AY •THURSDAY, MAY 12, 2016

BUSINESSWORLD

ADVERTISING

Repositioning for Business Revolution

For over seven decades, WEMA Bank has weathered the storm in the financial sector and built a robust brand profile across its regional and national markets, Raheem Akingbolu reports Like other enduring brands, Wema Bank seems to have seen both sides of the coin and learnt its lessons. Like other Nigerian financial institutions, the brand has, for many years enjoyed a seamless operation and also recorded challenges that opened new opportunities. When the bank celebrated its 70th anniversary as Nigeria’s longest surviving indigenous bank a year ago, it left no one in doubt about its resilience with the unveiling of its new logo and identity. The message was about the new thinking in the organisation, to reposition for improved and innovative banking services in the country.

After the consolidation in the financial sectors, some banks, including Wema bank were declared weak, while some failed the audit process and pronounced unfit for operation.

Naturally, this became a burden to both the management of the bank and its agencies, especially, Centrespread Advertising Limited, the agency that was hired at that critical period when the need to reposition the bank became necessary. Among other things, there was a major communication challenge as stakeholders’ confidence was greatly eroded as a result of the CBN audit and subsequent publications in major media on the state of the affected banks. Though it wasn’t good news but the promoters the brand saw a future that could bring hope.

Communicating the truth If there was anything the handlers of the brand got right, it was accepting the reality. One of the major communication challenges at the time was how to restore consumer confidence in the brand, which influenced them to go back to the drawing board to brainstorm on tone of communication.

Rather than seeing the development as a setback, the team quickly turned the disadvantage to opportunities for the bank through a simple communication strategy that tended to tell the world nothing but the whole truth and a quick readjustment of the bank operational policy.

They knew that it wasn’t all about window dressing. They didn’t tell the public that things were in good shape in all fronts or that they have just posted a particular profit. The management team admitted that even though there had been issues, they are trying to rectify those issues, and rebuild the brand. To them, that would be better than covering the bank in borrowed ropes. To this end, they enjoined the people to join hand with them to rebuild the brand.

With this, the promoters felt that it would be more believable and they expected positive result which they eventually got.

For the creative agency, this was a turning point because as at that time, a new management came in and it became a good platform for the agency to launch its communications.

The message At the beginning, the communication department of the bank rolled out what could be described as a goodwill message, telling members of the public that “great things are happening in Wema Bank”; that the management was knocking things into shape. The mode and style of presentation of the ‘great things are happening’ campaign was different from what one would expect from banks ads as the agency infused some natural elements that has to do with the message that was being passed.

The campaign paraded someone like a carpenter or repairer with things like hammer, nails and other tools needed to put things to shape. This generated a lot of words of mouth for the bank because it was something that hadn’t been done before by any bank. According to a source close to the bank, within and outside the industry, people were calling Wema bank to congratulate them for the job well done.

Observers saw this as a good approach and since then, the journey seems to have been smooth.

Regional posture Just when the dust raised over unhealthy banks was subsiding, the regional banking issue came

WEMA Bank building

up and this generated a lot of confusion in the market place. People, who didn’t understand what the regional banking means had the feeling that the bank was actually going down. But having done their homework and knew it was their sure way of getting out of the crisis that was looming in the sector, the promoters of the bank held tight to their belief.

With well cut out strategies and good implementation, the story changed as the bank quickly demonstrated in practical terms that its decision to play a regional game was born out of the need to refocus on its core strength.

With this, the bank became a regional bank and made an indelible mark which prepared it for the next stage –national operator.

Changing gear For an organisation that is conscious of growing its reputation in the industry, it was a deliberate strategy by the management of the bank to celebrate the efforts made in the last four years at positioning the brand as a modern and more customer-centric organisation.

The bank’s latest status as a National Bank is a major point of commendation and demonstrates its resilience for excellence. Also worthy of note is the recent international credit rating and awards, which are added pointers to the innovative disposition of the present

Rather than seeing the development as a setback, the team quickly turned the disadvantage to opportunities for the bank through a simple communication strategy that tended to tell the world nothing but the whole truth and a quick readjustment of the bank operational policy

management.

Wema Bank Plc recently added more feathers to its cap with the award of International Organisations for Standardidsation, (ISO) Certifications by the British Standard Institute (BSI). The other was the ISO/IEC 20000-1:2011 (IT Service Management System) certification, which indicated that Wema Bank has developed and implemented a template for improved IT services for both its internal and external customers.

Wema Bank Plc is also said to have also broadened its’ SMEs financing in Nigeria.

The bank in its bid to actualize its passion for sustainable economic growth in the country, received a N3.3 Billion Line of Credit (LOC) from the African Development Bank (AfDB) to support the growth of small and medium enterprises (SMEs) business in the country.

Business revolution The Managing Director/ Chief Executive Officer of the bank, Segun Oloketuyi described the rebranding process as a “thorough business evolution.” It is expected that this ongoing revolution will fast track the organisation’s drive to become a leading retail bank in the country.

For any institution to survive the test of time, a major element is the connection with the consumers. This understanding has worked for leading brands across the globe, and it is not lost to the management of Wema Bank.

In its bid to protect the interest of its customers, the bank has introduced an innovative card control feature. This is an anti-fraud solution that enables customers choose the preferred electronic platforms and countries to use their cards. Mr. Oloketuyi who underlined the strategic position of the consumers to the survival of the organisation said, “The customer is at the centre of everything we do and nurturing great relationships has been a hallmark of Wema Bank since its inception. We have also made significant investments in people, technology and process improvements in the last few years to lay a solid foundation for the future.”

He emphasised that this is only possible through proper alignment between the management and staff.

“With regular training and development of its staff, the Bank has acculturated the importance of doing things right, the first time with the ultimate goal of delivering excellent service to all existing and prospective customers,” he said.

The journey so far As the Bank celebrates its 71st anniversary on

May 2nd, 2016, this is a mission that it must hold to heart.

Established on May 2, 1945 as Agbonmagbe Bank, the organisation is known for its distinctive brand of relationship banking and has undergone a rapid transformation in the past five years which has seen it gradually regain its pride of place in the Nigerian banking industry.

Widely reputed as the longest surviving and most resilient indigenous Nigerian bank, Wema Bank Plc has over the years, diligently offered a fully-fledged range of value-adding banking and financial advisory services to the Nigerian public.

Incorporated in 1945 as a Private Limited Liability Company (under the old name of Agbomagbe Bank Limited) and commencing banking operations in Nigeria the same year, Wema Bank later transformed into a Public Limited Company (PLC) in April 1987 and was listed on the floor of the Nigerian Stock Exchange (NSE) in January 1990. On February 5, 2001, Wema Bank Plc was granted a universal banking licence by the Central Bank of Nigeria (CBN), thus allowing the Bank provide the Nigerian public with diverse financial and business advisory services.

However, in 2009, the Bank underwent a strategic repositioning exercise spearheaded by a new management team that has seen its profile rise considerably which finally culminated into its taking a sound strategic decision to operate as a commercial Bank.

In 2010, Wema Bank downscaled to operate only within its core areas of business – SouthSouth, South-West and FCT Abuja. In November 2015 the bank with a capital base of N43.8 billion, having met the regulatory requirement as stipulated by Central Bank of Nigeria, was granted a National Banking license. This historic event has made Wema Bank the first bank to be granted a National Banking License having previously operated with a Regional License.

On the development that the bank has witnessed in recent time, Oloketuyi said he was very proud to see the great changes that have taken place internally and externally at Wema Bank and that his team was committed to offering even better services into the future.

“The new logo is all about creating and nurturing relationships through professionalism, trust worthiness, service excellence, mutual respect, integrity, accessibility, teamwork, innovation, focus, dependability and much more,” he said.

With the current drive and management pursuit, it is safe to say that the bank’s vision, to be the financial institution of choice in service delivery and superior returns, is being attained.

T H I S D AY •THURSDAY, MAY 12, 2016

31

BUSINESSWORLD

NEWS

Wema Bank Restates Transcorp Assures Shareholders Higher Returns Commitment to Innovative share in Nigeria’s burgeoning of the total power generated projects include the Transcorp Goddy Egene Banking Services in Nigeria. Currently, chal- Hilton Ikoyi, where pilling economy.

Goddy Egene Wema Bank Plc has restated its commitment to innovative services with renewed focus on its strategic aspiration of becoming one of the leading retail bank in Nigeria.

Speaking at the bank’s annual general meeting (AGM) last week, the Managing Director/ Chief Executive Officer of Wema Bank, Mr. Segun Olekotuyi, said given the challenging outlook for 2016, the bank has started the year with a renewed focus on its strategic aspiration of becoming a leading retail bank in Nigeria.

“The continued implementation of Project L.E.A.P- (the bank’s growth strategy), narrowed our focus and channeled our efforts towards specific opportunities with great potential and symbiotic relationships. This strategy, in its final phase, will continue to guide the Bank’s allocation of resources in 2016,” he said.

Speaking on the results of the bank for the year ended December 31, 2015, the MD said the bank delivered a 9.5 per cent growth in gross earnings driven by improved deposit liabilities.

This, according to him, was achieved through a wellstructured risk management framework as demonstrated by non-performing loan (NPL) ratio of 2.67 per cent and cost of risk below 1.0 per cent.

He commended the support of the shareholders and also highlighted some major achievements of the bank during the year.

“We appreciate the unique position of our shareholders and must confess that the bank’s 2015 performance has demonstrated its resilience and

commitment to continuously deliver value to the stakeholders even in the face of obvious challenges,” he said.

He explained that the 2015 financial year was a particularly challenging one for the banking sector and economy as a whole.

“This was due to the impact of reduced Government spending, policy changes in foreign exchange administration, a depressed energy sector, declining manufacturing outputs and elements of insecurity, which have continued to take a toll on consumer spending and economic activities,” he said He noted that despite these challenges the bank was able to sustain its transformation drive with total deposits for the period growing about 10 per cent over the prior year to N284.9 billion, gross earnings improving to N46.0 billion from N42.19 billion recorded in 2014, and closed the year with profit before tax remaining stable at N3.05 billion compared to N3.09bn in 2014.

Oloketuyi added that the bank also achieved several significant milestones during the financial year.

“Top of the list was the grant of a National banking license by the Central Bank of Nigeria, authorizing physical presence across the country.

The bank celebrated its 70th anniversary with a brand repositioning exercise which saw it change some core brand elements, giving way to a more vibrant and dynamic look with an increased focus on service excellence. The bank was also awarded critical certifications of ISO 20000 and ISO 27001 and launched the Card control security feature on its mobile app - a first in the industry,” he said.

ARM Securities Introduces Online Trading Portal Eromosele Abiodun ARM Securities has introduced ARM Stocktrade, a self-service online trading portal that enables clients execute trades, real-time, on the Nigerian Stock Exchange (NSE).

The company said in a statement that the portal is also enabled to provide access to stock broking accounts and gainful insight from quality research resources enabling clients to make informed stock trade decisions.

According to the company, clients who log on to the portal will enjoy the ease and convenience of placing trade orders online, backed by relevant reliable information and timely updates.

Speaking on the development, a Director of ARM Securities, Mrs. Kemi Oluwashina, explained that the portal was born out of the company’s desire to continually add value to its clients, adding that’s why the live market feed and research pages on ARM Stocktrade portal were specially tailored to meet the growing need for relevant

information on the go.

On his part, Head of Marketing and Corporate Communications at Asset & Resource Management Company Limited (ARM), Taiwo Adeleye, stated that one of the things ARM Stocktrade has going for it is its adaptability to any mobile device.

“Clients will be able to place orders online from their phones and receive contract notes on the same day. He mentioned that this is one of the ways ARM keeps its promise of empowering its clients to realise their ambitions. Existing clients of ARM Securities Limited can log into the system immediately while new clients need only complete the simple online account opening form.

ARM Securities Limited is an independent subsidiary of the traditional asset management arm of ARM – one of the leading, reputable asset management firms with a very successful track record of protecting and growing investments for private investors and institutions for over two decades,” he said.

The President/Chief Executive Officer of the Transnational Corporation of Nigeria (Transcorp) Plc, Mr. Emmanuel Nnorom has assured shareholders of the company of better performance and higher returns in the years ahead.

Speaking on the operations of the conglomerate in Lagos at the weekend, Nnorom said as part of its strategic thrust for brand building and extension, Transcorp Plc, has resolved to continue to improve operational and cost effectiveness as well as explore opportunities to expand product offerings and service delivery.

He said with interests from hotels, agriculture, power generation and oil exploration, Transcorp, is providing shareholders a uniquely diversified opportunity to

“Following major acquisitions in power and agribusiness, new initiatives in its hotel and tourism business and the on-going exploratory activities from its existing oil block. Transcorp shareholders are already reaping rewards and this will continue in the years ahead,” he said.

According to Nnorom, Transcorp has made several important business decisions which will have significant impact on its fortunes.

Some of the strategic initiatives, according to him, include additional turbines for power generation, increase in the output of the plant from 160megawatts to 650 megawatts in 2015 and being on track to deliver 850 megawatts of available capacity in 2016.

“Our target is to be responsible for at least 25 per cent

lenges to the actualisation of these goals include but not limited to supply of good quality gas, transmission losses and inadequate evacuation infrastructure and payment of owed debts to Transcorp Power Limited.

Despite these challenges, Transcorp Power Limited is determined to forge ahead in the discharge of its primary objectives and in the creation of lasting value for Nigerians at large,” he said.

Speaking on the Transcorp Hotels Plc, Nnorom said the hospitality arm of the business, successfully closed Tranches 1 and 2 of its N30 billion bond issuance programme, which is intended to fund the upgrade of Transcorp Hilton Abuja and the development of a multipurpose banquet centre.

“Other major ongoing

is expected to be completed

by May 2016.

Transcorp Hilton Port Harcourt has gotten the necessary planning approvals from the Rivers State Government and we are currently revising our design to optimise the use of the expanded site.

Transcorp Hilton’s Abuja will be upgrading 670 rooms in the next 18 months.

The current focus is on the installation of new elevators and procurement of fittings for guest and meeting rooms.

In addition, external works on construction of a new access way, warehouse and car park have commenced,” he said.

According to the CEO regarding the oil block OPL281, it is being prepared for drilling, ensuring adequate measures are put in place for seamless production.

PROMOTING FREE BASIC INTERNET SERVICES

L-R: CEO, Airtel Nigeria, Segun Ogunsanya; Head of Policy for Facebook in Africa, Ebele Okobi; Global Director Product Partnerships, Facebook, Ime Archibong and Global Director, Operator Partnerships, Markku Makelainen, also of Facebook, at the launch of Free Basic Services by Airtel Nigeria in partnership with Facebook, held in Lagos...recently

New Project to Build Cassava Seed System in Nigeria Crusoe Osagie A four-year project to develop a commercially sustainable cassava seed value chain in Nigeria, has been launched at a public event at the headquarters of the International Institute of Tropical Agriculture (IITA) in Ibadan, Nigeria.

Titled: ‘Building a Sustainable, Integrated Seed System for Cassava in Nigeria’ (BASICS), the $USD11.6 million project is funded by the Bill & Melinda Gates Foundation and led by the CGIAR Research Program on Roots, Tubers and Bananas (RTB).

Despite being the largest cassava producer in Africa, Nigeria’s average yields of 14 tons per hectare are less than half of what may be realistically attainable.

The project aims at helping Nigerian producers reach their potential through developing a

commercially sustainable cassava seed value chain based on the purchase of quality seed by farmers provided by vibrant and profitable village seed entrepreneurs and basic seed production linked to cassava processors.

These seed businesses will provide healthy seed of more productive cassava varieties leading to adoption of new varieties to improve productivity and food security, increase incomes of cassava growers and village seed entrepreneurs and enhance gender equity.

Kicking off the public launch, IITA Director General, Dr. Nteranya Sanginga, explained that the key to industrialising cassava is to increase productivity, and this means addressing the problem with weeds, improving agronomy and providing quality seed.

RTB Program Director, gave the project overview:

“Our vision is that by 2019 smallholder cassava growers are buying high quality stems of their preferred varieties and planting them with improved agronomic practices. As a result yields have jumped by at least 40% and farmers have more secure markets for expanded production… Novel rapid multiplication technologies have lowered the cost of producing seed and accelerated the introduction of new varieties.

Vibrant new businesses have been created all along the cassava seed value chain creating employment especially for women and youth.”

A representative of Minister, Federal Ministry of Agriculture and Rural Development, Mrs. Doyin Awe noted that exciting new opportunities were opening for cassava, but planting materials for cassava present special challenges as they are bulky and perishable. She

committed the full support of the Ministry to the new project and thanked the Bill & Melinda Gates Foundation for providing the funding.

Executive Director, National Root Crops and Research Institute (NRCRI), Dr. Julius Okonkwo noted that Nigeria’s cassava seed system was informal, and that NRCRI was very pleased to form part of the project in developing a modern seed system for cassava.

On his part, the Executive Director of the Forum for Agricultural Research in Africa (FARA), Dr. Yemi Akinbamijo, said: “I am excited to get back to BASICS so that we could move forward for a food secure Nigeria.” He underscored the need to work on the entire innovation to impact pathway, and stressed that today history is being made, and that he was very proud to see such a great initiative unveiled.

32

T H I S D AY •THURSDAY, MAY 12, 2016

BUSINESSWORLD

NEWS

60% Women to Benefit from LCCI Expresses Worry over Neglect of Non-Oil Economy CBN’sN220bnEmpowerment diversification, maintaining that untapped natural resources. for promoting and showcasing the nation’s revenue base needs We are optimistic that with the abundant resources and Crusoe Osagie Fund the creation of an enabling numerous investment opto be better diversified.

Olakiitan Victor in Ado Ekiti About 60% of Nigerian women are to benefit from the N220 billion loan scheme rolled out by the Central Bank of Nigeria to strengthen micro small and medium scale enterprises (MSME) in the country.

A CBN official, Mr. Babatunde Ogunlaja disclosed this in Ado Ekiti on while interacting with prospective beneficiaries of the scheme, comprising farmers, business men and women artisans and unemployed youths.

Ogunlaja said the high percentage was allotted to women because available data showed that they comply in loan repayment more than men. The CBN official said a sum of N63 billion had since been disbursed since March, 2016 out of which N5 billion was given to 80,000 farmers in Kebbi State to shore up rice production in the country, so that Nigeria can stop relying on importation of food.

He said the interest rate has been pegged at 9 % for easy repayment of the loan that was intended to develop the economy.

“Over one trillion naira has been expended by CBN for various intervention programmes in the areas of MSME, infrastructure, and agriculture, but it pains us that most of our agriculture products have not reached the processing unit let alone storage.

“Having found that out people don’t want to pay back loans, the loans shall be disbursed through registered cooperative societies and commercial banks that have been given the mandate to pay into individual accounts within five days”, he said.

Ogunlaja said the CBN has also earmarked a sum of N4.4 billion for physically challenged to make them economically relevant and reduce destitution in the system. Under the youth Entrepreneurship scheme, he said a special programme has been designed for graduate under the NYSC Scheme to boost agro-business, manufacturing and craft. The Assistant Director, Consumer Protection Department of the CBN, Mrs. Bolaji Lartey said the bank would effectively play its regulatory role on commercial and micro-finance bank for speedy disbursement of the loan to beneficiaries.

Lartey said no bank will be allowed to overcharge the beneficiaries in terms interest rate, saying over N26 billion has been recouped by CBN being money paid by commercial banks for overcharging their customers. She appealed to beneficiaries not to see the loan as a national cake, saying doing so could hamper the intervention schemes of the apex bank. The commissioner for Agriculture in Ekiti, Mr. Kehinde Odebunmi , appealed for reduction of the interest rate to 5per cent.

Infinity Trust Mortgage Bank Declares 3k Dividend for Shareholders Dele Ogbodo in Abuja The Chairman of Infinity Trust Mortgage Trust Bank (ITMB) Plc, Mr. Adeyinka Bibilari, has announced a dividend of 3 kobo per ordinary share for the ITMB shareholders, translating to an aggregate of N125 million.

According to him, despite the very harsh economic environment, the bank reported a profit after tax of N232.147 million for the year ended 2015.

While commending the management of the bank for its hard work, he said the bank has consistently declared dividend for the third year running as a listed company since 2006.

Addressing shareholders at the company’s 10th annual general meeting (AGM), in Abuja, Bibilari said ITMB is the only bank in the country to achieve this feat.

He however, admitted that its operational expenses went up because of the opening of its Lagos office, which has since commenced business in the sector.

According to him, its 2015 financial report showed that loan and advances rose from N1.24 billion in 2014, to N1.67 billion in 2015, representing an increase of 34.5 percent.

He said: “Deposits rose from N1.064 billion in 2014 to

N1.415 billion in 2015, representing 33 percent increase. The bank also reported a marginal increase in to total asset and shareholders’ funds by 1.17 percent and 1.16 percent respectively in 2015 from the preceding year result.”

The chairman said the bank maintained a rating status of short term A3 and long term BB+ positive outlook by Global Credit Rating (GCR), for the third successive time of 2015.

He assured shareholders that despite the harsh operating environment, the bank will continue to grow and impact on its shareholders and clients with the provision of housing at affordable cost.

In a remark, the Managing Director of the bank, Mr. Banjo Obaleye, stressed the need for government’s intervention in the mortgage sector, adding that private sector investment is not enough to propel the industry to its desired level, adding that, that is the way it is done in developed countries.

He said the bank has significantly increased its shareholders’ funds from less that N50 million in 2003, to over N5 billion, adding that the bank has financed more than 14 modern estates in Abuja with accommodation for more than 3000 families

The Lagos Chamber of Commerce and Industry ( LCCI) has decried the continued neglect of the nation’s non-oil sector, noting that Nigeria, blessed with abundant deposits of solid minerals, has competitive and comparative advantage in its non-oil resources.

The chamber, however, stressed that the sector remained underdeveloped over the years.

The President, LCCI, Dr. Nike Akande, said considering the dwindling global crude oil prices that have largely affected Nigeria’s foreign exchange revenue base, the time to pay close and serious attention to the non-oil sector is now.

Akande who spoke during the public presentation of the 2016 Lagos International Trade Fair (LITF) prospectus, added that Nigeria must also pay close attention to the fiscal side of

“Our tax revenue to GDP ratio is very low. We need to improve on the efficiency of tax administration at all levels of government, without necessarily increasing the tax rates. More than ever before, we need more strategic decisions and policies that will put the economy on the path of economic recovery and social prosperity,” he said.

She noted that the ongoing backward integration efforts of corporate organisations towards sourcing a large part of their raw materials locally should be encouraged, stressing that the Nigerian economy has the capacity to weather the current economic difficulties if the policy contexts are appropriate and robust.

“We have large and vibrant market, large and fast growing population, pool of resourceful entrepreneurs and huge

environment, the diversification of the Nigerian economy will be realised sooner than later,” she added.

She however stated that the chamber is presenting the platform of the 2016 LITF for States to exhibit their potentials to potential investors, saying that more than ever before, the States need investors to boost economic activities and support fiscal postions by exploiting the various resources for economic diversification.

“The prospectus would highlight some of the new initiatives that have been adopted to bring about added value to the 2016 LITF,” she said.

According to her, the LITF, tagged “Positioning the Nigerian economy for diversification and sustainable growthhas over the years provided a platform

portunities in the Nigerian economy.

“Let me assure the business community that we shall sustain and consolidate on these achievements by continuously providing better delivery of value to our customers,” she added.

She said the public presentation of the prospectus heralds the chamber’s preparedness for the 2016 fair and said it creates an opportunity for prospective exhibitors, sponsors, partners and participants to have an insight into its preparations.

Earlier, the Chairman, Trade Promotion Board, LCCI, Mr. Sola Oyetayo, said this year, the chamber shall be celebrating the 30th year since it took over the organisation of the fair from the federal government, saying that the event will be marked with exciting programmes.

FINANCIAL ACCOUNTABILITY

L-R: Director, Pal Pensions Plc, Mrs. Hamdah Ambah; Chairman, Mr. Rilwan-Bello Osagie; Directors, Mrs. Folashade Laoye; Mr. Aliyu Abdullahi, and Managing Director/CEO, Mr. Emenike Dave Uduanu, during the 10th annual general meeting of Pal Pensions Plc in Lagos...recently

Osibodu : Why BEDC is Improving Service Delivery The Managing Director/Chief Executive, Benin Electricity Distribution Plc (BEDC), Mrs. Funke Osibodu has affirmed that the improvement exercise embarked upon by the company in all spheres of its operations was to demonstrate its commitment to the provision of improved service delivery to customers.

She made the assertion at a Media parley organised by the company on Monday at its Headquarters in Benin.

In a statement, she stressed that in doing so, the company was mindful of the health and safety of the customers for instance in the supply of power to those on its connections.

The BEDC, she said, embarked on a door to door enumeration of existing customers and potential ones including the state of the network, saying that the exercise involved assessment of electricity load in each premises, filling out relevant forms and provision of acceptable identification by the occupiers of premises.

In order to provide better billing information to customers, BEDC, the MD added, has begun migration to a new billing system with effect from April saying that the new billing format commenced for all Maximum Demand (MD) customers in Edo while all other categories of customers in Delta, Ekiti and Ondo states would be moved to the new billing format within the next three months.

“Customers are to note the following relating to billing information: reading of customer’s meters is expected to be done monthly or at least once in 3 months. Whenever a reading is not done in any month, an adjustment of any estimate used in billing will be done within the subsequent reading.

Where a customer’s meter is found to be obsolete or incorrect, the meter reading will be suspended and estimated billing will be utilized prior to the replacement of the meter. Such suspension will

be notified to the customer in a letter”, she said.

Osibodu said the Enforcement and Monitoring unit of the company was set up to inspect premises of customers and ensure that connection to the network were in line with safety standards; that only paying customers were on the network and that bye pass or illegal connection to the network was not allowed to operate.

“Customers who have bypassed their meter by removing part or all of the electricity load from reading on the meter, will only be reconnected when they have paid the appropriate fine or penalty/loss of revenue as well as the reconnection fee”, she added.

Responding to questions on the civil society protest targeted at BEDC, the MD said most of the civil society members, who spearheaded such protests were found to be highly indebted to BEDC and were often accused of failing to honour their obligation to

the company through prompt payment of bills Civil society activist, She explained to journalists that the reason why customers were experiencing power outages arising from inadequate supply, was due to the challenged posed by the inability of Generating Companies (GenCos) to generate more electricity for domestic and industrial needs.

She said there was a great challenge of power in Nigeria with less than 5,000 megawatts to a population of 170 million, stressing that the current energy output of less than 2,500megawatts was a reflection of the perennial energy crisis that was yet to be addressed.

The MD explained that the power sector has been starved with investment since 1984 whereas the country has increased in population and infrastructure, stressing that power is no longer a social but commercial commodity, which prices is determined by the forces of demand and supply.

T H I S D AY •THURSDAY, MAY 12, 2016

33

BUSINESSWORLD

PERSPECTIVE

Why NIRSAL is a Game Changer in Agriculture Financing Nathan Ajene Paul Agriculture is by far the largest sector in the Nigerian economy. It’s potential to become the main driver for more equitable income growth, compared to oil and gas sector has never been in doubt. It accounts for about 42% of Gross Domestic Product (GDP) with about the highest potential for employment generation, food security and poverty reduction.

According to a UN Report, the sector has enormous potential – with an opportunity to grow output by 160%, from $99 billion to $256 billion by 2030. This growth potential is estimated to come from potential to increase yields to 80-100% of benchmark countries; increase acreage by 14 million hectares of new agricultural land, approximately 38% of Nigeria’s unused arable land of 36.9million hectares; and a shift 20% of production to higher value crops.

However, one of the major issues that have prevented the sector from unleashing its full potentials and contributing fully to a stronger Nigerian economy and assuring those that engage in it of a decent source of livelihood is the limited access to finance because of its high perception of risk by commercial banks.

Now, as the Buhari administration strategizes to re-set and re-orient the nation’s economy away from oil to the non-oil sector, one key Central Bank Agricultural financing initiative with the most potential to ignite fundamental and sustainable change in the Agriculture sphere - is the Nigerian Incentive-Based RiskSharing for Agricultural Lending (NIRSAL).

NIRSAL was established in 2011 based on learnings from the gaps that were noticed while implementing earlier credit guarantee programs which failed to have the desired impact. It was designed to encourage the growth of bank lending to the agricultural sector by providing risk mitigation, financing, trading and strategic incentives and technical assistance to Agribusiness with a start-up capital of N75 billion provided by the Central Bank of Nigeria in partnership with the Alliance for a Green Revolution in Africa (AGRA).

NIRSAL is different from earlier agricultural credit guarantees because it is structured to incorporate all major stakeholders along the nodes of agricultural value chain such as input producers, farmers, agro-dealers, agro-processors, industrial manufacturers and exporters.

Its innovative framework fits into the vision of President Muhammadu Buhari to revive the agriculture sector. It also aligns with the energetic development focus of the Central Bank Governor, Mr. Godwin Emefiele to boost local production, create jobs and fortify the economy against exogenous shocks.

Besides the brilliant principles that define NIRSALs model for Agriculture financing, the agency also has a seasoned Agricultural economist and competent technocrat with over 22 years’ experience in the industry Mr. Aliyu Abbati Abdulhameed as its pioneer Managing Director to ensure that the vision of the President is realized under the leader-

ship and direction of the CBN Governor.

Mr. Abdulhameed who was appointed MD of the agency in December 2015, holds a BSc. Master of Public Administration (MPA) Executive Masters Certificate from in Public Policy and a BSc (Agric. Econs). He has since his appointment being working hard with few staff to get NIRSAL fully functional so that it fully integrates into the Buhari and CBN strategy for agricultural revolution. And it is promising because NIRSAL by design and implementation has all the trappings to be the ‘Game Changer’ in Agricultural financing in the country. And the reasons are not far-fetched.

For one, NIRSAL is structured to reduce significantly the risk of banks’ lending to the Agricultural sector through its risk sharing vehicle. NIRSAL guarantees up to 75 percent of agriculture bank loans. It pays about 50 percent of losses incurred to large farmers and roughly 75 percent to small and medium scale farmers. By doing this NIRSAL is fixing albeit slowly the problem of low lending to the Agricultural sector which stands at an abysmal 1.4% of the country’s total lending.

This lending rate is far below the lending ratios that apply in other high performing developing countries such as Brazil, Mali, Burkina Faso that lend over 10% to agriculture as a percentage of their total loans.

Second, NIRSAL provides comprehensive insurance products for agricultural lending to help reduce credit risks and increase lending across the entire value chain by providing farmers with a substitute for collateral. This it does by expanding the coverage of existing products provided by the Nigerian Agricultural Insurance Corporation (NAIC), the country’s de facto agricultural insurance monopoly, and piloting and scaling new products, such as weather index insurance, new variants of pest and disease insurance. For instance, under weather index insurance, farmers receive a payout if rainfall is outside pre-defined pay-out bands.

Third, NIRSAL provides technical assistance

NIRSAL is different from earlier agricultural credit guarantees because it is structured to incorporate all major stakeholders along the nodes of agricultural value chain such as input producers, farmers, agro-dealers, agroprocessors, industrial manufacturers and exporters

President Muhammadu Buhari

by equipping banks to lend sustainably to agriculture. This is alongside assisting producers to borrow and use loans more effectively, and to produce more and better quality goods for the market. This intervention is significant because it addresses the issue of limited understanding of agriculture by banks which leads them to have sometimes exaggerated perception of the risk of lending to Agricultural as higher than it is. It also helps it to fix bank’s credit assessment process which is very poor.

Offering technical Assistance will improve the function of the agricultural financial value chain through building capability for lending and borrowing and encouraging linkages along the value chain.

Overall for Lenders & Insurers, NIRSAL’s provision of technical assistance will help to build capability to assess agricultural risk and to develop and distribute agricultural friendly products. For Borrowers the assistance will help to build their capability to better access loans and increase capacity to improve productivity.

Fourth, NIRSAL provides a holistic bank rating mechanism that is based on the effectiveness of their agricultural lending and its social impact.

The mechanism will measure lending and social outcomes. Lending takes 80 percent, while its social impact will take 20 percent based on NIRSAL’s goals. This weighting reflects the understanding that while banks cannot be held accountable for the social impact of their lending, it is within their powers to structure loans that are more likely to have social impact.

Fifth, NIRSAL has a bank incentives mechanism which offers banks additional incentives to build their long-term capabilities to lend to agriculture.

To qualify, the investment must cover a tangible fixed asset or intellectual property investment designed to help the bank significantly increase its agricultural lending capability. The most innovative ideas will receive a non-cash award for “Innovation in Agricultural Lending”. Financial support will be capped at the total value of the award and at 50 percent of the value of the investment.

To foster competition among the top ten banks, the awards are made on a sliding scale.

The top prize – “Agriculture Bank of the Year” – is USD 3.25 million. When a bank wins an award, it must submit a proposal within three months on how it will invest in building its agricultural lending capabilities.

Proposals are reviewed and approved by an independent panel and eligible types of investment include: Branch expansion to rural areas within a high-potential value chain (up to 50 percent of total cost); Establishing IT platforms that support agricultural lending; Agricultural credit risk scoring models; Platforms for distributing loans using technology such as mobile phone.

Earlier credit schemes to the Agricultural sector failed to have the desired impact because they did not take into cognizance the full scope of the Agricultural value chain. They failed to see as one whole linked process the agricultural challenges which range from underfunded research and development, financial risks for farmers who do not understand talk less of adopting best practice. They also did not factor in other issues like threats from disease, pest, climate, and poor farmer extension services, lack of local storage and processing, lack of market linkages and limited formalization of retail.

And this is where NIRSAL is different.

It is also a key reason why it will succeed where others failed to make the desired impact as a ‘single bullet’ strategy for building a sustainable financing model for agricultural financing.

NIRSAL integrates end-to-end agriculture value chains with agricultural financing value chains. Under the agriculture value chain it connects input producers, farmers, agro dealers, agro processors, industrial processors, trade and exports. On the side of the agricultural financing value chain, it facilitates loan product development, distribution, loan origination, credit assessment, managing and pricing for risk, loan disbursement and management. By doing this in a systematic and institutional fashion that is transparent and in line with international best practice, NIRSAL is able to expand lending to each part of the agricultural value chain.

NIRSAL clearly stands out as one of the most creative, innovative and sustainable agricultural financing programs in Nigeria.

Even though NIRSAL has from 2012 operated as a Project Implementation Office within the Development Finance Department of the CBN until December 2015, it has been able to make significant impact in the industry in spite of manpower limitations. NIRSAL has provided Credit Guarantees for over 454 Agricultural projects valued at N61.161 billion.

It has also paid out over N753.36 million as interest rebate to borrowers who paid back their loans in good time. Furthermore, NIRSAL has through its technical assistance scheme trained over 112,000 farmers across the country on best practice farming techniques and business management. This is a promising sign of the future potential of the initiative when fully staffed and organized.

- Nathan is a public policy analyst

E-PPAN Partners NITDA on E- Government Summit The Electronic Providers Association of Nigeria (E-PPAN) has announced a partnership deal with the National Information Technology Development Agency (NITDA) for the 5th annual E- Government summit themed “Attaining Increased IGR; Efficiency and Accountability in Government through Smart Innovation.”

The summit is slated to hold from July 12 -13, 2016 in Abuja.

The E-Government Summit

2016 is designed to explore the use of ICT and smart solutions in resolving core developmental issues mitigating the effective implementation of E-government and the holistic application of ICT as a panacea for corruption, wastages and lack of efficiency in the public sector.

The principal aim of the summit is to provide a platform for high-level dialogue among development partners, policy makers, top government

executives, decision makers and executives in the industry.

The summit intends to highlight core developmental issues mitigating the effective implementation of E-government and the holistic application of ICT as a panacea for corruption, wastages, and lack of efficiency in the public sector.

The objectives of the summit is therefore designed to address these issues and proffer solutions, framework

and model structures that can be adopted on national scale for increased IGR, accountability and self-reliant national economy.

The summit will endeavour to demonstrate the effectiveness of smart solutions/ ICT and their capacity to increase and generate IGR; set agenda for the deliberate use of ICT to enhance security, drive productivity in Agriculture and attain quality education; explore the opportunities for

shared infrastructure and interoperability in the public sector to enable reduction of cost of government and reinforce the need for synergy between the public and private sector for sustainable growth and economic development.

A huge success was recorded in 2015 summit propelling a series of activities from attendees such as Anambra state government to initiate the use of POS for revenue collection in the state, NITDA’s

smart cities initiatives across the country, PENCOM’s Micro Pension Scheme. The Federal Government Made in Nigeria Products campaign Initiative to encourage MSME’s was one of the recommendations of the summit.

NITDA has launched a multi-year national smart cities Initiative in eight cities nationwide. The first phase will include Abuja, Lagos and one city representing each geopolitical zone.

34

T H I S D AY •THURSDAY, MAY 12, 2016

BUSINESSWORLD

pERSpEcTIvE

The Foreign Exchange Act and the Devaluation Debate Nduka Ikeyi In 1995 Nigeria took a bold step towards the liberalisation of cross-border capital flows.

This step was marked with the enactment of two statutes, namely, the Nigerian Investment Promotion Commission Act (“NIPC Act”) and the Foreign Exchange (Monitoring & Miscellaneous Provisions) Act (the “Foreign Exchange Act”).

The NIPC Act repealed the previous legislation that restricted foreign investment in Nigeria, thereby signaling a shift in policy away from the dependentistas approach to foreign investment regulation. The Foreign Exchange Act, on the other hand, provided a supplement to the NIPC Act in making detailed provisions regarding cross-border capital flows. It also repealed three statutes that hitherto constrained cross-border capital flows in Nigeria.

The thinking in some quarters is that the Foreign Exchange Act fully liberalised the market for foreign exchange (“forex”) in Nigeria. This view would seem justified given the attitude of the Central Bank of Nigeria (“CBN”) to asserting its power under the Foreign Exchange Act prior to 1999. However, based on a reading of the Foreign Exchange Act and the subsequent conduct of the CBN, it is also possibleto argue that the Foreign Exchange Act did not bring about a full liberalisation of the forex market in Nigeria. Post May 1999, the CBN would seem to have read too much into s. 1(2) of the Foreign Exchange Act, which gave it power to issue guidelines for “matters as may be deemed appropriate for the effective operation of the Market”, as well as s. 11(a), which provides that “[n]othing in this Act shall be construed – [(a)] as permitting any unrestrained or general dealing in foreign currencies on terms inconsistent with the provisions of this Act”.

The Foreign Exchange Act created the Autonomous Foreign Exchange Market (“Afem”) where transactions in forex are conducted (s.

1(1)). The Afem is defined as a market in which authorised dealers, authorised buyers, forex end-users and the CBN are participants, and may include other participants that the federal government may recognise (s. 41). Section 4 of the Foreign Exchange Act enacts the sources of forex which may be traded in the Afem, namely (i) forex in domiciliary accounts maintained in Nigerian banks, (ii) forex held or imported into Nigeria by Nigerian nationals resident in Nigeria or in the Diaspora and foreigners, (iii) export proceeds from both visible and invisible trade, excluding oil export proceeds (but various CBN circulars would seem to have brought oil export proceeds into the Afem), (iv) forex imported or held by foreign missions and international organisations, (v) forex held in external accounts by Nigerians, (vi) forex imported for direct investment in Nigeria, (vii) forex provided by the CBN, and (viii) forex from other sources as the Minister of Finance (the “Minister”) may specify by order published in the gazette. What the foregoing list shows is that the CBN is just one source of forex that is traded in the Afem – but as of today a prevailing source.

Transactions in the Afem are conducted between (a) members of the public and authorised dealers, (b) authorised dealers, and (c) authorised dealers and authorised buyers (s. 7). Authorised dealer means any bank or other entity licensed by the CBN and issued with a licence to deal in forex, whilst authorised buyer means any bureau de change, hotel or other corporate body appointed by the CBN. Instructively, Foreign Exchange Act expressly provides that the rate at which each transaction in the Afem is to be executed shall be the rate mutually agreed between the applicant purchaser and the authorised dealer or authorised buyer concerned (Foreign Exchange Act, s. 9).

Section 9 of the Foreign Exchange Act is relevant to the current debate about whether or not to “devalue” the Naira, especially as it relates to addressing the adverse effect that the failure to officially devalue the Naira has had on the inflow of the much-needed foreign investment into Nigeria. The view that has been put forward in this regard is that the CBN needs to devalue the Naira to reflect its

CBN Governor, Godwin Emefiele

realistic market value before foreign investors would resume investing in Nigeria as seen pre-2014. It is said that the Naira is already effectively devalued (or more appropriately has depreciated) given its parallel market value of approximately USD1/N320; and that if the foreign investor’s forex inflow is converted at the CBN official rate (now approximately USD1/ N199), the investor would make a loss of at

The Foreign Exchange Act created the Autonomous Foreign Exchange Market (“Afem”) where transactions in forex are conducted (s.

1(1)). The Afem is defined as a market in which authorised dealers, authorised buyers, forex endusers and the CBN are participants

least N100 on every USD1 when he begins to incur expenditure in Nigeria in the course of his business operations, the cost of which is reflective of both the depreciation in the value of the Naira in the parallel market and inflation. The investor therefore needs to be able to convert his forex inflow to Naira at the realistic (parallel) market rate if he is to bring in forex to make investment in Nigeria.

Although this argument has been presented here in its simplistic formulation, it nevertheless demonstrates the challenge, which manifests in various sophisticated forms.

Section 15 of the Foreign Exchange Act requires an authorised dealer through which forex is imported for the purpose of making investment in Nigeria to convert the forex into Naira in the Afem in accordance with the provisions of the Foreign Exchange Act. The authorised dealer is also required to issue a certificate of capital importation to the investor within 24 hours of importation of the forex. The question then is whether the Foreign Exchange Act requires the authorised dealer to convert the forex at the CBN official rate, which is the concern of foreign investors, and for that matter, the local company in which the investment is made. I will answer this question very quickly in the negative by reference to s. 9 of the Foreign Exchange Act, which gives parties transacting in the Afem the right to execute transactions at a rate mutually agreed “by the applicant purchaser and the authorised dealer”. In this case the applicant purchaser is the foreign investor (or any other member of the public for that matter) who is purchasing Naira in exchange for his forex, whilst the bank through which the forex is imported is the authorised dealer. Section 9 of the Foreign Exchange Act is not made subject to any other provision of the Foreign Exchange Act, and no other section of the Foreign Exchange Act contains provisions that are in conflict with s. 9. Indeed, although s. 16 of the Central Bank Act (“CBN Act”) empowers the CBN to devise a suitable mechanism for

determining the exchange rate of the Naira, there is no provision in the Foreign Exchange Act, which is specific to transactions in the Afem, that permits the CBN to set the rate at which forex transactions in the Afem are to be executed in a manner that binds every transaction in the Afem. Further, s. 37(2) of the Foreign Exchange Act provides that the provisions of the Foreign Exchange Act shall prevail over the provision of any other law that is inconsistent with the Foreign Exchange Act. The CBN may nevertheless be able to influence the rate at which transactions are executed at the Afem by agreeing rates with regard to the forex that it supplies to the Afem, which are lower than the rates agreed by other suppliers of forex to the market. And the effect of this intervention would depend on the proportion of the forex supplied to the Afem by the CBN relative to the total forex supply to, and demand for forex in, the market. If the CBN’s forex supply is equal to or exceeds the demand for forex in the market, then the CBN rate would be the effective market rate as no sensible dealer would buy forex from a source the price of which is higher than the price the CBN is willing to take for the same. Indeed at this point, some forex suppliers may have to offer rates lower than the CBN rate to be able to sell their forex.

The present challenge in the Afem is caused by (a) CBN’s forex supply being less than the demand for forex in the market, and (b) CBN’s imposition of its price on all transactions in the Afem. Given that there is no warrant in law for the CBN imposition of price on all transactions in the market, such an action is unlawful. Even the power of the Minister in the Foreign Exchange Act to issue directives for the efficient operation of the Afem only enables the Minister to issue directives that are “not inconsistent with the Foreign Exchange Act” (ss. 8(2) and 40). It is also an elementary principle of law that the power to make subsidiary legislation cannot be exercised in excess of the power granted therefor by (or inconsistent with the substantive provisions of) the principal and enabling statute.

Any circular, guideline, or directive contrary to s. 9 of the Foreign Exchange Act is therefore ultra vires the Minister and or the CBN, and therefore unlawful and void.

But is the CBN free to set the price at which it may sell the forex it supplies to the market from time to time? I have no doubt at all that s. 9 of the Foreign Exchange Act enables the CBN to do so. Does the CBN have the right to determine who it will sell its forex to? I also have no doubt that it has the right to do so. The CBN (or the federal government) may therefore determine the transactions in respect of which it is prepared to bring forex into Afem and the price at which it will sell its forex to parties involved in these transactions. These transactions may perhaps be limited to transactions that are critical to the federal government’s economic diversification policy, with safeguards to ensure that they do not come back into the Afem to be sold at a different rate.

Using the current scenario, the effect of the application of s. 9 of the Foreign Exchange Act would be that the CBN would sell its forex to qualifying purchasers at its (official) rate , whilst other suppliers of forex to the Afem (including foreign investors) would sell their forex at a market determined rate (now approximately N320/USD1). But I can speculate that the latter rate, being a rate that has remained stable for some time now on the basis of a more or less fixed (under) supply of forex to the market over the period, is likely to improve in favour of the Naira, if compliance with s. 9 of the Foreign Exchange Act by the CBN leads to an increase in the supply of forex to the Afem by foreign investors and other sources. The debate about the devaluation or non-devaluation of the Naira would have become less significant; and the thought and time expended on it by well-meaning Nigerians and our foreign friends would become available for other important and urgent national issues.

- Ikeyi, a former Attorney general & Commissioner for Justice in Enugu State, is a partner at Ikeyi & Arifayan, Lagos

T H I S D AY •THURSDAY, MAY 12, 2016

35

BUSINESSWORLD

REIGHT TO REPLY

NDPHC Delivers on NIPP Phase I … creating the backbone of Nigeria power infrastructure Yakubu Lawal Our attention has been drawn to an article in ThisDay Newspaper of May 3, 2016 titled “10 Years After Conception, NIPP Still Unable to Deliver Power” written by its Abuja Energy Reporter, Mr. Chineme Okafor. Though it is not our corporate culture to join issues in the media, we owe the public an obligation to set the records straight out of concern that a publication in a newspaper of international repute like ThisDay may mislead its numerous and valuable readers worldwide.

A summary of the aforementioned article was that the implementation of the National Integrated Power Projects has so far contributed nothing towards improving the availability of electric power in the country. To say that the article was a treatise of falsehood, amateurish and a complete distortion of facts is an understatement. Here are verifiable facts as evidenced by commissioned projects located all over Nigeria.

In the area of power generation, eight of the ten power plants in the NIPP portfolio, along with associated gas transmission metering/ receiving infrastructure projects to support commercial operation, have been commissioned and connected to the national grid contributing over 22,000,000kWHr of energy daily. While it is a fact that power generation is often disrupted by acts of vandalism on gas pipelines and transmission lines, the NDPHC does not offer such incidences as excuses – success is second nature to our operations. The NDPHC has continued to operate these power plants in the interest of the Nigerian economy, despite undesirable security challenges and an accumulated debt of over N94bn owed it by the electricity market. – that’s definitely more than a tangible contribution to the nation’s supply of electricity.

Many of the NIPP power plants on the national grid also provide ancillary services in support of system operations, a contribution critical for stabilizing the national grid. The writer should have contacted Transmission Company of Nigeria (TCN) to get information on the vital role of NIPP power plants in bringing electricity supply to consumers. It is noteworthy that the System Operator heavily depends on the NIPP Plants for the provision of these critical services.

Following recent grid instability as experienced by consumers nationwide, TCN and NDPHC are currently concluding a contractual agreement by which NIPP plants would provide about 265MW of Spinning Reserves to facilitate grid responsiveness during swings and disturbances on the transmission network. The provision of spinning reserve and other ancillary services is best practice the world over and Nigeria now largely relies on NIPP Power Plants to provide the service. Contrary to the allegation, the NIPP is definitely not a failed project.

The NPDHC has over 2,000MW of generation capacity readily available for deployment as soon as vandalized gas processing projects are completed by the associated nominated gas suppliers thus presenting the best opportunity for the rapid improvement of power supply.

Completed power plants include 750MW Olorunsogo II, 450MW Sapele, 434MW Geregu II, 450MW Omotosho II, 450MW Ihovbor, 450MW Alaoji, 563MW Calabar and 225MW Gbarain.

Imminently completed ones include 225MW Omoku, 338MW Egbema and 530mw 2nd Phase Alaoji - that’s something worthy of mention in the article. Contrary to the allegation in the said article that most of the power plants have not been completed, the NDPHC assets are truly the backbone of the nation’s power infrastructure. The completed power plants have been operated with private sector orientation and supported by Long Term Service Agreements (LTSA) in line with international best practice. Under condition of transmission and gas challenge, the profitability of the plants is constrained but these are short term developmental challenges which the NDPHC is working to mitigate by divestment to the private sector either as privatized entities or under practical Operations and Maintenance (O&M) contracts. Despite the inability of some IOCs to deliver gas to NIPP plants on schedule,

MD, _NDPHC, James Olotu

the management has been proactive in securing alternative gas from Accugas Ltd which clearly is outside the aggregation framework. Had the writer investigated the purported claim that our management is relying on inadequate gas as an excuse, the published article would have been radically different.

The NDPHC has completed 2,194km of 330kV transmission lines and 809km of 132kV transmission lines. This represents an increase of 46% and 13% respectively over the pre-NIPP status of grid infrastructure. A total of ten (10) new 330/132kV substations and seven (7) new 132/33kV substations have also been completed with several other existing substations significantly expanded thereby adding 5,590MVA and 3,313MVA capacity to the national grid – the statistics of NIPP contribution to overall transmission system with transformation capacity progressively increasing each day as the balance of the projects are being delivered.

The current blackout being experienced in the EKO area of Lagos is to grant NIPP outage to connect completed projects at both 330kV and 132kV levels at Alagbon and Lekki NIPP 330MVA Substations which in a few weeks would significantly improve power supply to Lagos axis. Similar projects are being primed for commissioning to facilitate power evacuation from NIPP’s Calabar and Alaoji Power Plants to the SS, SE and NW of the country, amongst many other beneficiary states. The design basis of some of the transmission projects include significant closing radial lines to form loops thereby providing the required flexibility and redundancies to a better management of the national grid - these are things worthy of informing the public.

With regards to Distribution infrastructure – the NDPHC has constructed and commissioned over 350 injection substations with a combined capacity of 3,540MW across the length and breadth of this country. The NDPHC has further constructed a total of 2,600km of 11kV and 1,700km of 33kV distribution lines for improving access to electricity and quality of power supply to consumers.

The nation’s distribution capacity has also been enhanced by the installation of 25,900 completely self-protected (CSP) transformers all over the country thereby significantly reducing technical losses. Under the NIPP program, the capacity of 33/0.415kV and 11/0.415kV has been increased by 26%. The NIPP is designed to

increase the number of 33/0.415kV & 11/0.415kV substations by 163% all the projects are nearing completion – this is definitely worthy of noting by your uninformed reporter.

The National Integrated Power Projects is the largest single intervention in power infrastructure in Africa and the implementation has not been without challenges, which include community restiveness, security situation in the Niger Delta and disruptions arising from recurring probes by the National Assembly. We trust that this oversight function by the legislators is often occasioned by the imperative of obtaining informed knowledge and gathering of valuable data – albeit with undesirable effect of causing disruptions in operations and adversely impacting on the speed of project delivery.

Other challenges have been the unintended side effects of the power sector reform and a misalignment between the NIPP and the implementation schedule of gas projects under the NNPC and its subsidiaries.

Such challenges are not unexpected in the process of executing multi-billion dollar projects in emerging economies in which there are significant external risks to project implementation. With an overall level of completion of projects in excess of 80%, the balance of which are on the verge of completion, the NDPHC has definitely delivered on its mandate of providing robust power infrastructure for the nation. Not a bad track record for NIPP. In spite of the above laudable achievements recorded by NIPP in an environment where this is anathema, the power throughput in Nigeria remains at about 12GW at generation level, 5.5GW at Transmission level and about 5GW at Distribution level, a situation that has restricted the improvement of service delivery at the last mile to consumers. In recognition of the subsisting gaps in power infrastructure, the Board and management look forward to doing a lot more for our country under NIPP phase II for the nation to benefit from a worldclass transmission infrastructure and a more diversified generation-mix underpinned on the utilization of alternative sources of power generation including renewables.

Under the initiative, the NIPP plans to close the infrastructure deficit arising from the continued growth of the economy and gaps associated with other critical stakeholders in the power value chain – that is keeping phase with economic and population growth

as practiced in other developed economies.

NIPP plans to fund these newly proposed projects either from proceeds of the ongoing divestment of 80% equity in NDPHC generation subsidiaries or by leveraging on the company’s significant balance sheet to attract the much needed foreign as well as local capital. Only few companies in Africa can boast of an asset base in excess of $8bn – and a much higher valuation when a financial close is achieved on the transaction. It is noteworthy to report that the sum of US$5.7bn offered for the acquisition of the 80% in our equity power plants is well in excess of the amount expended in building the plants thus an affirmation that the NIPP procured its assets with duty of care and due consideration for value for money. Contrary to the writer’s negative perception, it is an acceptable practice for willing buyer and willing seller to renegotiate bids, if circumstances and parameters related to a transaction deviate from the understanding at the time of offer. It is therefore no surprise that many Fortune 500 companies are eager to partner with NDPHC as investors. Nigerians deserve to know this, and not falsehood.

We are sure that your respected energy reporter, Mr. Chineme Okafor, who allegedly authored (doubtful as we believe that he usually writes from an informed position) the originating falsehood is now better informed to do the rightful thing – inform Nigerians based on verifiable facts.

We also expect the management of ThisDay newspapers to do the needful in clearing the wrong perceptions created in the minds of its critical readership by the earlier publication, in a manner befitting of its integrity and standing in the local and international media thereby retaining the goodwill of its numerous and loyal readers who depend on you for the truth.

The critical question to answer is where would Nigeria have been without NIPP? Let the more balanced analysts go to work.

As we call on ThisDay Newspapers to avail these clarifications equal prominence as the originating article on the NDPHC, the management remains available, as always, to provide further information relating to our critical role in building a strong and viable electricity industry.

- Lawal is General Manager, Communication & Public Relations NDPHC

36

T H I S D AY • THURSDAY, MAY 12, 2016

BUSINESSWORLD

DEVELOPMENT

Taking Corruption War to the Trenches Abimbola Akosile looks at an unconventional way of fighting corruption in Nigeria, as showcased by a series of unique skits unveiled recently by a communications expert, Mr. Akin Fadeyi in Lagos

I

n Nigeria, corruption is as old as time, and as the President keeps insisting, Nigerians must kill corruption before it kills everyone. How to achieve that goal has been the bone of contention for years, while impunity thrives in the interim.

Majority of Nigerians appear immune to the putrid effects of corruption, the same way passersby - for days - casually strolled past a swollen decomposing human body lying in the centre of a market-place in Dopemu, a Lagos suburb way back then in 1994. Twenty-two years later, the collective psyche against a national scourge seems even worse.

Different Approach The topic is not new, but the mode of delivery was novel. It takes a lot to keep more than 40 seasoned journalists glued to their seats in any event in ever-busy Lagos, but this was worth it, simply because it touched a chord in every sincere citizen at the unveiling.

The focus was the media launch of an anticorruption national re-orientation campaign project, Not in My Country (NIMC) a series of one-minute skits produced by a development communications expert, Mr. Akin Fadeyi, which was like a breath of fresh air in a fetid pit of corruption.

The idea of using actors and known screen idols to shoot and portray a message against easily-identifiable modes of corruption, all in one minute each, showcased a brilliant strategy to achieve three things: one, not all movie stars in Nigeria are bland or empty-headed; two, a crucial message can be passed across to a perceptive audience in one minute; and lastly, corruption is not an exclusive preserve of politicians or top public officials only.

Vital Eye-openers From the familiar scenarios where policemen try to collect bribes or market sellers tamper with weights in order to make a quick buck; and from oil bunkerers in the creeks of the Niger Delta region to a lying taxi-cab driver in Abuja, the message was apt and to the point; corruption cuts across every stratum of the Nigerian society and is not restricted to the corridors of power alone.

Consider the nurse who collects bribes from poor patients to book appointments with doctors in a public healthcare centre; or the father who lied twice about his location right before his daughter’s eyes while talking to a business partner on the phone; or a generator repairer who berated his staff for trying to replace original parts with bad ones in a client’s generator to make quick money; one thing was clear in the skits: corruption leaves a lasting negative impression on victims.

Imagine a business owner asking his accountant to falsify the books to make a bigger impression; or a fake drugs manufacturer who couldn’t care less about his potential customer-victims; or a furniture maker whose employee wanted to substitute an expensive mahogany product required by the client for an inferior wood product for pecuniary reasons.

The over-riding message from the one-minute skits was depressing: corruption is a national phenomenon which is not bound by tribe, religion, sex, educational level or location. It is endemic and millions are on the take, even among the so-called victims at the bottom of the social ladder.

While it is easy to point accusing fingers and flagellate those who are daily being accused of ripping off millions and billions of the commonwealth; those market sellers or bribe-takers – even in the media - who are pointing the fingers are no better when it comes to cutting corners for corrupt enrichment.

Many low-income offenders have been heard to blame the big-wigs for corruption in Nigeria while they also deny others of their rights and privileges in their own little corners.

Corruption in diverse forms

Exciting Blend Fadeyi (not of the Fadeyi Oloro fame) knew how to achieve the right blend of audience for his first media launch of ‘Not in My Country’. Although mutually suspicious whenever publicity-wary entertainment practitioners and the media meet, this occasion was different.

The actors and actresses lent their stage persona to highlight the anti-corruption message, while the media in turn lauded their effective interpretation of the roles in the skits unveiled at the Protea hotel venue in Maryland, Lagos.

The roll call of the actors and actresses and screen personalities who attended the event and participated in the skits was impressive, from veteran actor and lecturer Hafiz Oyetoro of Saka fame, to Jude Orhora, and compere and comedian Gbenga Adeyinka and several others.

On the media list of attendees were heavyweights like former President, Nigeria Guild of Editors (NGE) and Managing Director/ Editor in Chief of Vanguard Newspaper, Mr. Gbenga Adefaye, to former Editor of THISDAY Newspaper and Editor in Chief of online publication The Cable, Mr. Simon Kolawole.

The public sector was also at the event, with the Minister of Health and Chairman of the Independent Corrupt Practices and other related offences Commission (ICPC) adequately represented by Mrs. Boade Akinola and Mr. Shintema Binga respectively. An educationist, Otunba Gbenga Kareem of the Unique Group of Schools, Omole Phase I, Lagos, also graced the occasion and offered vital insights and lessons in the education sector.

Useful Tips Adefaye, who gave the keynote address, canvassed a citizen-led approach to fight corruption from the bottom up. He sought the adoption of the paradigm of change advocated in the 24 anti-corruption skits and urged the media to take the message far and wide.

Fadeyi was more direct in his remarks. Speaking on a project which took him five years from

conceptualisation to reality, he described the mindset of the average Nigerian as warped when it comes to corruption, and called on the average citizens who formed the bulk of the audience to first change themselves and their orientation before changing corruption in the country.

He said NIMC was a citizen-led approach to the anti-corruption campaign in Nigeria and disclosed that although 33 skits have been shot so far – with 24 shown at the event -,

more than 300 clips would be shot in a year; to help trigger national discourse and real-life experiences which can be used to seek for change and accountability.

Not in My Country is a novel effort to combat corruption in Nigeria, and the major lesson in the skits is that when the average citizen decries corruption, it provides an impetus to hold corrupt leaders and top officials accountable.

The battle can be won if it begins from the trenches, simple

RAMDOM THOTS

Value of Citizenship

For three years, the Japan Railway Company kept two freight trains running to a remote island in Hokkaido in Northern Japan, just for the sake of only one passenger, a young girl who plied the trains at different times daily until she graduated from High School in March this year; according to a report.

When this idyllic transport scenario is compared to the plight of thousands of train passengers who daily occupy every inch of space on the trains running from Sango-Ota to Ebute-Metta/Oto in Lagos, including perching on the roof of the coaches and hanging onto open coach doors and the buffers between coaches, two things come to mind for this reporter.

Firstly, any country that places appropriate value on the lives, education and well-being of its citizens will in turn be guaranteed patriotic fervour and huge commitment from such valued citizens. And secondly, it would be nice if the governments in Nigeria provide adequate infrastructure (rail in this case) and tackle poverty; which are two major factors causing the stampede for Lagos trains. True value begets devotion, simple.

Abimbola Akosile

37

T H I S D AY • THURSDAY, MAY 12, 2016

BUSINESSWORLD

DEvELOpMENT/ISSUESINBOx

Nigerians united in quest for a better life

Despite Issues, Can Nigeria Remain United?

Against the background of the huge tension generated by the killings perpetrated by criminal herdsmen; the spate of random kidnappings of both top and average citizens; the clamour for separation by some regional interest groups; the lingering issues of economic hardship, mounting poverty and unemployment, the fear of the 2015 US-forecast on Nigeria’s break-up appears real. To you, is there any real and present danger to this country’s unity and collective development?

Abimbola Akosile * Nigerians and Nigeria cannot afford to be divided at this stage of our history, and so united we must remain despite all the arising issues. Good enough, several things bind us together from oil revenue to marriages and even educational institutions.

But to make our cohesion more effective, there should be stronger regions and a lesspowerful centre. This will allow each region to focus on areas of comparative advantage to develop at their own pace, while final allegiance will be to the central core. United we stand...

- Mr. Olumuyiwa Olorunsomo, Lagos State * The challenges we have today are due to more values placed on money than even human lives. For unity’s sake, government must reverse the trend urgently. We own and hold our destiny and can groom it to our quality and taste. Love of money is unfortunately diverting Nigerians’ attention negatively. We must beware of how we mould our lives and those of others for our better Nigeria and tomorrow.

- Ms. Saiki Ometere Tina, Gboko, Benue State * We have done it for many years. Despite the Civil war, we have lived together and the civil war in any case was not a war between Christians and Muslims. We have proved to the whole world that we can live together. In Nigeria, we have not less than 80 million Christians, 80 million Muslims, living side by side, day by day at every level of our lives. We must live together because nobody has anything to gain in conflicts, confusion and differences and, despite our differences, there is something common that we share.

- Catholic Archbishop of Abuja Metropolitan See, John Cardinal Onaiyekan, Abuja * With all the current happenings in our country, uncertainties of peace by Boko Haram, kidnappings, herdsmen, blowing of pipelines by Niger Delta youth e.t.c, the need for sovereign national conference is imperative for peace and development. This should not be out of place.

- Mr. Dogo Stephen, Kaduna

THE FEEDBACK Yes, we can:

6

No we cannot:

1

Others:

6

Radical tip:

Make regions stronger!

Total no of respondents: 13 Male:

9

Female:

4

Highest location:

Lagos (4)

* The threat to Nigeria’s unity and collective development has always been there, because sectional interests have been elevated above national interests. The present Buhari-led Federal Government’s fight against corruption is a subtle design to politically emasculate a section of the country: principally the Niger Delta (South-South). Furthermore, the belated and weak action of the central government against the murderous activities of herdsmen in the Middle belt and Southern Nigeria, points to disintegration as the only way out of a looming genocide against these parts of the country.

- Mr. Neville Kikpoye-Jonathan, President, Abua National Associates, Amalem-Abua, Rivers State * The solution is for Northern governors to build ranches for the herdsmen.

- Mr. Feyi Akeeb Kareem, Leader, Change Makers Forum, Ogwashi-Ukwu, Delta State * Yes Nigeria can remain united because whether we like it or not we have been joined in this marriage which started as one of convenience but has now become permanent. Some years ago, you could not find Northerners inside rural eastern Nigeria. It was mostly the Igbos you see in all the nooks and crannies of the country.

But this is changing very fast. Northerners can be found in all the nooks and crannies of the South-east. Whether we like it or not we are moving towards unifying because of the symbiotic relationship that we are building. We are united but we do not

know it yet. Let one side say they want to leave and that is when you will see unity of purpose to ensure they do not easily leave the Union.

- Prof. Kate Nwufo, mni, Abuja * Nigeria has ever been united and will ever remain united. The enemies of Nigeria are the so-called politicians who deceive religious leaders to see them as angels when seeking political office, whereas they are the devil mercenaries. Nigerians are God-fearing citizens and politics or not, we shall remain united.

- Hon. Babale Maiungwa, U/Romi, Kaduna * The activities of herdsmen over their killings and destruction of properties is condemnable and security agencies should arrest those behind the ugly acts of killings and bring them to book. The life of every Nigerian is paramount; it is unfortunate that these ugly conducts are coming when PMB is trying to find lasting solution to insecurity and other sundry issues in order to allow investors to come in and invest. All the three tiers of government should make security a priority because a nation cannot develop under insecurity condition.

- Mr. Gordon Chika Nnorom, Public Commentator, Umukabia, Abia State * Fear of the bleak and turbulent future today brought about all these bedevilling challenges and stress giving Nigeria so many nightmares. We must be religiously confident, united and patriotic to morals and national issues of concern. God help and bless Nigeria.

- Mr. Apeji Onesi, Lagos * First of all, the attackers are not Fulani herdsmen, they are Fulani mercenaries.

The recent attacks in Benue, Enugu and Kaduna appear to be perpetrated by the same Fulani mercenaries who left Berom land in Plateau. Their services were no longer needed because the Berom had unfortunately also resorted to killing any Fulani who crossed their path, including women and children. As a result, a state of what political scientists call ‘balance of terror’ was attained, where both sides lived in fear, so sought genuine peace. The only

danger was the President’s slow reaction to the Enugu killings. How anyone could think that the heat raised by such an attack by any Muslim Northerner in the southern part of the country would just die down is a mystery to me.

- Mr. Buga Dunj, Jos, Plateau State * Leadership insensitivity to the many pains of the citizenry is dividing us and will definitely affect our collective development as a nation.

- Miss Nkeiruka Abanna, Lagos State * Yes, Nigeria is and will ever remain united as one. That is how God in His infinite mercy wants it. Oil, inter-marriage, sports, businesses, schools, minerals, job mobility, festivals e.t.c. all bind us together. Recession is temporary and should inspire and not discourage us. We will win this race at last.

- Miss Apeji Patience Eneyeme, Badagry, Lagos

Next Week: Can the 2016 Budget Transform Nigeria?

After arguments and amendments between the Executive and the Legislature, president Muhammadu Buhari has finally signed the 2016 budget into law. The N6.08 trillion budget has been described by the ruling administration as people-friendly which will bring about real change to the long-suffering citizens. In your opinion, can this delayed budget actually transform Nigeria and ginger the desired development? please make your response direct, short and simple, and state your full name, title, organisation, and location. Responses should be sent between today (May 12 & Monday, May 16) to abimbolayi@yahoo.com, greatbimbo@gmail.com, AND abimbola. akosile@thisdaylive.com. Respondents can also send a short text message to 08023117639 and/or 08188361766 and/ or 08114495306. Collated responses will be published on Thursday, May 19

38

T H I S D AY • THURSDAY, MAY 12, 2016

BUSINESSWORLD

DEVELOPMENT

WHEN WILL KEROSENE SCARCITY STOP IN NIGERIA?

AKINWUNMI IBRAHIM

W’Bank Report Reveals Opportunities to Reduce Vulnerability to Drought Abimbola Akosile New report led by the World Bank has focused on interventions that could increase long term resilience to drought, as extreme drought continues to hit much of sub-Saharan Africa, leaving millions of people in need of emergency assistance.

Launched at the First Great Green Wall Conference held recently in Dakar, Senegal the report Confronting Drought in Africa’s Drylands: Opportunities for Enhancing Resilience estimates that a set of interventions could help reduce the impact of drought by about half in Africa’s drylands.

This will keep on average 5 million people per year out of danger in areas that constitute some of Africa’s poorest zones, according to a World Bank release. Nigeria, which is located in sub-Saharan Africa, is also prone to drought and desertification in the northern part of the country.

“Drylands, which are hot spots of natural disasters, are at the core of Africa’s development challenge,” said World Bank Vice President for Africa, Makhtar Diop,. “If we are to achieve lasting poverty reduction, it is imperative to better manage the impacts of extreme weather and climate variability, as the number of people living in drylands and competing for scarce resources will increase.”

Confronting Drought in Africa’s Drylands focuses on a subset of countries in East and

West Africa that contain large arid, semi-arid, and sub-humid areas and are home to over 300 million people.

Frequent and severe shocks, especially droughts, already limit livelihood opportunities, undermine efforts to eradicate poverty, and require emergency aid.

The future promises to be even more challenging: population growth and an expansion of drylands due to climate change could increase the number of people living in a challenging environment by up to 70 per cent by 2030.

But better management of livestock, agriculture and natural resources could help enhance people’s resilience in the face of change, the report noted.

“Our research found that by investing in interventions that increase the sustainability and productivity of herding and farming, we could vastly improve the prospects for development in East and West Africa and cushion the losses that disproportionately affect poor households,” said Raffaelo Cervigni, World Bank Lead Environmental Economist and co-author of the report.

For example, in 2010 only 30 per cent of pastoralist and agro-pastoralist households in the Sahel and the Horn of Africa possessed enough livestock assets to stay out of poverty in the face of recurrent droughts.

To protect livestock-keeping households, productivityenhancing interventions -such as providing improved animal

health services, ensuring early off-take of young male animals, destocking quickly in the face of approaching drought, and ensuring improved access to grazing areas - could raise the share of resilient households by 50 per cent.

Improved crop production technologies, soil fertility management and adding trees to current farming systems can also deliver resilience benefits by boosting agricultural productivity and increasing drought and heat tolerance of crops, the report noted.

“Trees growing in crop fields, in particular, can serve as sources of fertiliser while reducing water and heat stress affecting crops.

Trees can also reduce households’ food security by providing food when crops and animal-source foods become unavailable, and increase their coping capacity by providing assets that can be cut and sold in times of need”, it added.

Irrigation can also provide an important buffer against droughts, particularly in the less arid parts of the drylands.

Analysis carried out for this report suggested that irrigation development is technically feasible and financially viable on 5 to 9 million hectares in the drylands.

Other interventions discussed in the report include integrated landscape management to restore degraded areas to functional and productive ecosystems, and reducing

barriers to trade so that food is more available and more affordable, including after a shock hits. The authors estimate that the cost of well-targeted, location-specific technical interventions would amount to $0.4 billion to $1.3 billion per year.

“These costs compare favorably with the costs of emergency assistance and are within reach of current development budgets,” said Michael Morris, World Bank Lead Agricultural Economist and report co-author. “Most importantly, unlike short-term remedies, these interventions

can lay the foundation for durable development by allowing people to build enough assets to get out of poverty and stay out of poverty.”

The report concedes that even under optimistic assumptions about the spread of resilience-enhancing interventions, a significant share of the population living in drylands will remain vulnerable to shocks in 2030.

Governments will need to provide support in the form of social safety nets and to invest in human and physical capital to facilitate a gradual transition to livelihoods that

are less reliant on natural resources.

Confronting Drought in Africa’s Drylands was prepared by the World Bank working with a large coalition of partners including government agencies, regional organisations, multilateral development agencies, research institutes, and non-governmental organisations who provided background papers and notes, to contribute to the ongoing dialogue about measures to reduce the vulnerability and enhance the resilience of populations living in dryland areas of sub-Saharan Africa.

‘Education’s the Only Hope for Children’ Clement Danhutor Providing quality education for children remains a very important responsibility of every parent, because education has a global impact on all life programmes, not only the need of the individual, but also how the individual relates to the family, community, and the nation.

These tips were disclosed by the sole proprietor of Bestway International Nursery and Primary School, Mr. Samuel Iranlowo, in a recent chat with THISDAY in Lagos.

According to him, “The ultimate goal of education is to develop a person’s capacity to take responsibility for his or her own life, while strengthening the social network. People

rely on education for support and self sustainability.

“Every educated child is the representative of his or her own family, community and the nation. No doubt, whatever the child’s dream is, either to become a doctor, lawyer, engineer, journalist, or to join any of the armed forces in Nigeria, without any educational qualification in this 21st century, their dreams may not come to reality”, Iranlowo said “It’s the right of every child to be educated, but I wonder why some children are still hawking on the street in Makoko community, why some parents allow their children to stay at home doing school hour, doing nothing, and why some parents engage in child

abuse. This is what is generating space for social problems in Nigeria of nowadays.”

He also added, “As a teacher, I implore all parents, especially the average parents, to try their possible best to give their children quality education because without education life is meaningless.

“It’s time for the parents to know that there are many affordable private, NGO and government schools in the community that they can send their children to. In this life child education is very important, because as parents sending your children to school you trying to help the children and also you are investing your money for the future”, the educationist added.

39

T H I S D AY • THURSDAY, MAY 12, 2016

BUSINESSWORLD

DEVELOPMENT QUOTE OF THE WEEK

“The first major challenge is the physiological needs of these people, and food, nutrition rank right on top of that ladder. So we will first make serious effort to ensure that hunger is eliminated from the IDP camps and thereafter, we will begin to make effort to create jobs and boost entrepreneurship” - PRESIDENT OF DANGOTE GROUP, ALIKO DANGOTE, SPEAKING IN MAIDUGURI WHILE DONATING N2 BILLION TO INTERNALLY DISPLACED PERSONS IN BORNO STATE

Embrace Entrepreneurship for Govt Support, Nigerians Urged Oluwafunke Lasisi

UN: Most Countries Lack Adequate Laws to Promote Breastfeeding Abimbola Akosile A new United Nations report has revealed that laws to protect breastfeeding against the growing multi-billion-dollar breast-milk substitute business are inadequate in most countries, exposing small children to a greater risk of childhood diseases.

The 2016 status report titled, Marketing of breast-milk substitutes: National implementation of the International Code, showed that of the 194 countries analysed, 135 have in place some form of legal measure related to the International Code of Marketing of BreastMilk Substitutes (the Code) and subsequent, relevant resolutions adopted by the World Health Assembly.

This is up from 103 in 2011, but only 39 countries have laws that enact all provisions of the Code, a slight increase from 37 in 2011, according to a UN release.

The report, by the World Health Organisation (WHO), UN Children’s Fund (UNICEF), and the International Baby Food Action Network (IBFAN), revealed that among the countries that have any laws on marketing of breast-milk substitutes, just over half sufficiently prohibit advertising and promotion of breast-milk substitutes, including infant formula, feeding bottles and teats.

“It is encouraging to see more countries pass laws to protect and promote breastfeeding, but there are still far too many places where mothers are inundated with incorrect and biased information through advertising and unsubstantiated health claims,” said, Francesco Branca, Director of WHO’s Department of Nutrition for Health and Development, in a joint press release.

WHO and UNICEF recommend that babies are fed nothing but breast milk for their first 6 months, after which they should continue

Ideal way to raise a baby

breastfeeding - as well as eating other safe and nutritionally adequate foods - until two years of age or beyond.

The report said globally, nearly two out of three infants are not exclusively breastfed for the recommended 6 months - a rate that has not improved in two decades. Breast milk is the ideal food for infants. It is safe, clean and contains antibodies which help protect against many common childhood illnesses.

Breastfed children perform better on intelligence tests, are less likely to be overweight or obese and less prone to diabetes later in life, while women who breastfeed have a reduced risk of breast and ovarian cancers. Inappropriate marketing of breast-milk substitutes continues to undermine efforts to improve breastfeeding rates and duration worldwide, the report warned.

In this context, WHO member States, among them Nigeria, have committed to increase the

rate of exclusive breastfeeding in the first 6 months of life to at least 50 per cent by 2025 as one of a set of global nutrition targets.

The Code calls on countries to protect breastfeeding by stopping the inappropriate marketing of breast-milk substitutes, including infant formula, feeding bottles and teats. It bans all forms of promotion of substitutes, including advertising, gifts to health workers and distribution of free samples.

The breast-milk substitute business is a big one, with annual sales amounting to almost $45 billion worldwide. This is projected to rise by over 55 per cent to $70 billion by 2019.

Overall, richer countries lag behind poorer ones.

The proportion of countries with comprehensive legislation in line with the Code is highest in the South-east Asia region at 36 per cent, followed by Africa at 30 per cent while Europe has the lowest rate at six per cent.

Nigerians have been urged to embrace entrepreneurship to support the government with the current challenges taking place across the country, causing difficulty in daily activities and backwardness to the nation.

The call was made by Innate Communications, which is a non-governmental organisation (NGO) for social welfare at a development roundtable to educate and enlighten the society on how they can survive the challenges of corruption, insecurity, unemployment, and fall in education standards, high cost of living, and fall in oil price, among others. Speaking at the Roundtable with a theme ‘Survival Strategies in the Face of Current Socio-economic Realities: Prospect and Opportunities’, the Lagos State Director, National Orientation Agency (NOA) represented by his Deputy, Ralph Bowoto said the country can only overcome challenges if Nigerians are willing to support the government despite any difficulty situation they are facing. He explained that to overcome the challenges, Nigerians should be hard-working, creative, embrace subsistence farming, model living, prioritise their needs, complement intervention of the government by acquiring skills, saving, Small Medium Enterprises (SME) and others.

Bowoto stressed that President Muhammadu Buhari has promoted transparency and accountability in the area of corruption and other aspects since he has been elected, saying he is making all efforts to ensure things are back to normal in the country; whereby the problem will be fully addressed. He said the President’s travels are part of the government duties and is a key to industrialisation method and other relationships that could promote the welfare of the country and bring about change.

There, CEO, OSC College of Fashion, Mrs. Sola Babatunde who spoke on the topic ‘Perspectives on vocational skills as survival strategies’ corroborated Bowoto’s comments that it is not only being hardworking but to add smart to hardworking and request for God’s intervention.

She advised people to embrace skills acquisition with whatever they are doing, and also urged the government to employ expert staff members at various vocational schools provided by them so as to be well managed, rendering it useful to the society as many centres are not functioning.

While emphasising the need to promote and support the people in the society, Babatunde also disclosed that there is free training in tailoring for 50 students who cannot afford her fees, which will also mark the college’s seventh year in business. The coordinator and head of the NGO, formerly of Daily Independent, Mrs. Funmi Falobi said in midst of the economic challenges, there is need to find survival strategies to reduce the burden which becomes necessary and critical for the Nigerians to optimally utilise the various opportunities, and human and material resources available.

She stressed it was high time to look inward as citizens and think of what to do to be financially empowered and no longer depend on government for everything whereby the need to maximise opportunities around entrepreneurship in order to reduce economic constraint and poverty, calling on the government to ensure conducive environment and review policies that hinder entrepreneurship and industrialisation.

IN PARTNERSHIP WITH UN MILLENNIUM CAMPAIGN / UN SDG ACTION CAMPAIGN

40

T H I S D AY THURSDAY, MAY 12, 2016

HEALTH & LIFESTYLE

Email: charles.ajunwa@thisdaylive.com

The Battle for Food Safety in Nigeria

Despite the health and food safety industry’s best efforts, food-borne diseases and food recalls are becoming regular occurrences in restaurants and food chains across the country, Adedayo Adejobi writes

J

ollof rice, Eba, efo riro, ewedu, edikaikong, white soup, uziza, banga soup, meat and fish, these are just a few of the most familiar dishes in Nigeria, a country renowned for having some of the best cuisines in the world. With fast-growing economy, a burgeoning middle class and complex supply chains, Nigeria faces a growing array of food safety challenges; giving rise to innovative solutions and collaborative initiatives by private sector players like the First HACCP Limited, Lagos and other state governments across the nation.

More than half of all food-borne illness outbreaks in the country are associated with poor food handling by restaurants, banquet facilities, schools and other institutions according to the global Centres for Disease Control and Prevention’s Environmental Health Specialists Network Surveillance for Food-borne Disease Outbreak.

It is clear no one is immune to the problem.

Fast food chains across the country are hot spots for food outbreaks involving three different food-borne illnesses. In the midst of the crisis, these restaurant’s stock price are daily suffering due to issues ranging from, but not limited to food poisoning, and other food-borne illnesses.

While unsuspecting Nigerians are suffering, and the government turning a blind eye to this growing concern, A Principal Consultant at First HACCP Lagos, Zainab Akanji is one Nigerian who has stood tall as a crusader in addressing the problem through training and food safety consultancy, offering an all-staff food safety refresher training to the food and health industry.

With this void, Akanji, who is also a United Kingdom certified food safety consultant, and a chartered institute of environment trainer, is fast making a mark in giant strides through plain-language summaries of the study findings and recommendations, setting an agenda for the Nigerian government and the restaurant industry who are daily using these findings to develop effective interventions to improve food safety in restaurants.

Passionately speaking on some of the causes of food-borne illnesses that unsuspecting consumers suffer from cooking practices, she was quick to link E. coli O157:H7 infections to eating in restaurants. From experience, she enthuses that poor beef preparation practices, crosscontamination of other foods, and undercooking can lead to food-borne illness.

From a survey and independent research carried out by her firm, First HACCP Limited, the report found that many restaurants prepared food in ways that could lead to cross contamination or undercooking. For example, in 62 per cent of restaurants where workers used bare hands to handle raw beef, workers did not wash their hands after handling it. And about 80 per cent of managers said that they did not always use a thermometer to make sure that their foods were cooked to the right temperature. This lapse shows the dearth of kitchen managers who are duly certified in food safety.

When quizzed on what the ideal role of the government in handling practices of foodborne illnesses especially with the frequency of inadequate prevention of cooking practices, she said, ‘‘Poultry is the most common food associated with deaths from food-borne illness all over the world. Food-borne illness outbreaks have been associated with fresh produce like poor restaurants’ handling practices, which contribute to food-borne illness outbreaks.

The government needs to look at receiving and training restaurant workers, and that is my forte.

“Additionally, for the fear of losing their job, food worker experiences with and beliefs about working while ill with vomiting can transmit germs, diarrhea and food-borne illnesses from themselves to the food they prepare. People who eat that food can then get sick. This is an equally important cause of food-borne ill-

Akanji

ness outbreaks. And so restaurant, food chain operators need to learn more about factors that influence restaurant workers’ decisions to work while sick.”

Drawing inference from the Food Safety Modernisation Act (FSMA), which President Barack Obama signed into law in 2011, ‘‘it was a critical step forward. This Act which addresses the single biggest factor needed for food supply safety success — a focus on proactive strategies to prevent recalls and illness outbreaks. Industry best practices have now been turned into law in America, and it is time that Nigeria works together to make it easy to implement the new regulations,” Akanji enthused.

Through a proactive and preventative control

Our food-onions, vegetables and fruits need to be cleaned in a central location and packed in sealed containers, then transported or shipped to individual restaurants. The foods we consume in these restaurants should ideally be blanched in boiling water to kill microbes, while raw meat should be handled decently

approach, driving a note of advice to the Federal Ministry of Health, she added, ‘‘Nigeria needs to further push towards proactive food safety measures — to extend beyond its traditional reactive role. The Ministry of Health has the power to stop unsafe and possibly contaminated food from entering the food supply, but it is not. To best comply with these requirements, companies need to consider implementing better visualisation, documentation and communication tools that can deliver better insight into food safety processes.”

Disclosing key ways to leverage technology tools based on tenets of the Preventative Controls rule, “the government should seek to analyse the hazard risks, test for preventive controls such as allergen and sanitation controls, keep a watchful eye, hope for the best but plan for the worst, renew its dedication to leveraging the best tools and technologies to support food safety strategies and around the goals and objectives of a proactive food safety programme, and most importantly create testing programmes to ensure controls and corrective actions are effective.

“As most food companies do not have strong HACCP (Hazard Analysis and Critical Control Points) plans in place, taking into account food safety hazards which pervade the life of the average Nigerian. Organisations in the food industry need to have immediate access to both current and historical situations at control points to easily see their proximity to each other, as well as to other components,’’ she said.

According to her, most concerns to analysts are the possible outbreaks involving two strains of E. coli, bacteria that can cause severe intestinal cramps, diarrhea and fever.

“The huge cost of those outbreaks would become apparent when it comes as a crisis, necessitating for the government to import new food safety equipment and procedures, testing done to try to determine the cause of the problems and the cost of discarding food, hiring auditors and consultants and training employees in new procedures.

“The dire need to overhaul its food safety regime before it denigrates to such level beneath health and food safety standards, the government has the responsibility of bringing the risk of

contamination to near zero.

“Our food-onions, vegetables, fruits, need to be cleaned in a central location and packed in sealed containers, then transported or shipped to individual restaurants. The foods we consume that arrive in the restaurants should ideally be blanched in boiling water to kill microbes, and raw meat should be handled differently,”Akanji told THISDAY. Giving solution to the poor company policies that hamper the health and safety of consumers,’’ the Federal government must ensure food companies institute a paid sick leave policy, unusual in the fast-food business. Food safety is a key issue for consumers in Nigeria,” says Akanji.

“Over 70 per cent of senior executives who attend our firm’s routine trainings and leaders debate that food safety as being the issue that will have the greatest impact on consumer preference in Nigeria in coming years.”

Akanji explains that the question was posed as part of an opinion poll conducted by a unit of the First HACCP group with the topic of food safety polling considerably higher than other issues, including sustainable sourcing, genetically modified ingredients, health and wellness, and price. In a follow-up question, the audience chose cost of regulation and poor enforcement as the biggest barriers to growth for the food industry in Nigeria, Akanji continues.

“These issues polled higher than things like access to technology, human resource capability, cost of raw materials, and route to market/ poor infrastructure,” she says.

Not surprisingly, addressing food safety and harmonisation of regulations feature prominently in my work plans through the year. By serving as the leading industry platform for non-competitive debate in Nigeria, Akanji aims to promote the value of self-regulation and public-private partnership as a cost-effective way of delivering wider benefits to society.“We also believe in harmonised standards, especially in the context of food quality and safety,” the food safety expert noted.

“By harnessing the technical expertise of our food companies, we work with appropriate authorities to accelerate the removal of trade barriers and promote the alignment of standards with international best practice. A key focus of my five-year strategic plan will be accelerating food safety improvements in Nigeria, by scaling up capacity building and providing local trade associations with scientific information, education, and industry best practice,” Akanji said.

When asked on best possible ways to leveraging resources to help local food systems with food safety, she said ‘‘Food safety research and training programmes for local food systems require partnerships between local food entities and groups, universities, and state and federal governments.

A good starting point for the training efforts, require collaboration with state health departments that may be contracted as third-party inspectors for stakeholders in the local food marketing chain, such as retail food stores. State departments of agriculture and health could be strong partners with universities in developing and delivering outreach programs related to risk assessment and regulatory compliance for farmers’ markets and food safety programs.

Creating a Nigerian Food Safety Inspection Service would be an appropriate starting point for research and training efforts related to meat, poultry, dairy, and egg products not inspected by the health institutions.’’

The impact of food safety standards on processed foods imported and exports in Nigeria cannot be over-emphasised, as practically, there is ample room for Nigeria’s health sector and related food safety policies to tweak the standards to be stronger than necessary to achieve optimal levels of social protection, and to twist the related testing and certification procedures to make Nigeria’s competing products competitive with imports.

41

T H I S D AY THURSDAY, MAY 12, 2016

NEWS

Ambode Denounces Domestic Violence

‘Health Status of Troops Critical to Combat Efficiency’

Martins Ifijeh

The Director General, Ministry of Defence Health Implementation Programme, Brig-Gen. Nurudeen Hussain, has said that the health status of troops is a critical index in combat efficiency and readiness, especially in the face of contemporary challenges.

The DG made this known in Abuja at an event commemorating this year’s World Malaria Day with the theme “Together We Must Fight Against Malaria “; where he stressed that the attainment of optimum health of troops was a sine-qua-non in the achievement of the Nigerian Armed forces goal.

He added that malaria remains a disease of public health significance due to its morbidity, mortality and

Wife of the Governor of Lagos State, Mrs. Bolanle Ambode, has condemned in the strongest possible terms, the vexed issue of domestic violence, which has continued to rear its ugly head in the state and across the country.

She made the denunciation in Alausa, Ikeja, against the backdrop of one Mr. Lekan Shonde, who allegedly beat his wife to death at the Egbeda suburb of the state.

Mrs Ambode lamented that domestic violence in the form of assault on wife, child-beating and other forms of uncivilized behavior against women and children, seemed to have got fresh fancy from some men, who are still living in the primitive times.

She described as totally unacceptable, a situation where a man would callously turn his wife to a punching bag on the flimsy excuse that the helpless woman had either insulted him or refused to carry out his orders.

In her words: “How do you explain a situation where the man you married and one who claims to love you, would descend so heavily on you at the slightest provocation. If he is not complaining about delayed dinner, it is another flimsy excuse that is not tenable anywhere. They do it every now and then even to the extent of killing the helpless woman.

For how long will this go on?”

The visibly distraught wife of the governor, advised any

woman who found herself in an abusive relationship to retrace her steps when it was still possible, so that she could live to tell her own story.

She rejected the common and well-worn excuse of societal stigmatization of women who abandoned unpleasant marriages, retorting that when the woman dies in such a cruel marriage, what then does the society say? According to her, “Many victims of domestic violence become victims of their own psychological realities.

The world of these women is lonely, isolated and filled with fear, with no emotional outlet whatsoever. Sadly, victims wait until it is too late”.

She advised that, we should cease to treat domestic violence as a case of “family affair” and such do not become involved.

The fact that our society is patriarchal and values sanctioned by culture is not enough reason for this epidemic called Domestic Violence.

Speaking further, she said domestic abuse should be moved from being viewed as a social problem to being viewed as a criminal justice issue.

Mrs Ambode commiserated with all victims of domestic violence, including families of those that died, urging any woman going through such troubled marriages to approach the state’s Office of the Public Defender, Ministry of Justice, Ministry of Youth & Social Development or the Ministry of Women Affairs and Poverty Alleviation for legal assistance at no cost.

Adedayo Akinwale in Abuja

increased in socio-economic burden on Nigeria in particular and the world in general.

Hussain stressed that the World Health Organisation (WHO) estimated that about 3.2 billion people, which is half of the world population, are at risk of malaria, noting that the sub-Saharan Africa has a disproportionately high share of the disease.

According to him, “Malaria is endemic in Nigeria and accounts for spontaneous abortions, anemia (shortage of blood) in pregnancy, low birth weight babies, infant and ubder-five mobility and mortality. It also accounts for about 30 per cent sick absenteeism at work. Globally, the annual expenditure on expenditure on the treatment if malaria is about $1.2 billion.”

Hussain emphasised that malaria is preventable and curable, stressing that increased awareness and sustained efforts are needed to drastically reduce its burden in the communities.

Meanwhile, the guest of honour at the event, and the President, Defence and Police Officers Wives Association (DEPOWA), Mrs. Omobolanke Olonisakin, said malaria is a fatal disease caused by the plasmodium parasite that commonly infects a certain type of mosquito that feeds on humans.

She noted that the effect of malaria is mostly felt in the sub-Saharan Africa where a child dies every minute from the disease, stressing that WHO recorded that 88 per cent of global cases and 90 per cent of global death occurred in the

African continent.

Olonisakin stated that, “most of the casualties included children and pregnant women.

The disease has continued to have both psychological and socio-economic impacts on the population.”

She emphasised that malaria can be prevented through the use of long lasting insecticidal bed nets, indoor residual spraying, preventive therapies for infants pregnant women and children-under five as well as quality diagnostic testing and treatment.

“Limited access to facilities and improper or under utilisation of available malaria interventions within countries are the major causes of excessive high burdens of malaria cases and deaths, “ DEPOWA president added.

FG Vindicates Akpabio over Ibom Specialist Hospital Joan Madubugwu The All Progressives Congress (APC)-led Federal Government has vindicated Senate Minority Leader and former governor of Akwa Ibom State, Godswill Akpabio over his decision to construct a World Class Specialist Hospital in the state, stressing that with the facilities at the Ibom Specialist Hospital, medical tourism would become a thing of the past.

It also promised that the government at the centre will partner the Akwa Ibom State Government on the operation of the hospital.

The Minister of Health, Prof.

Isaac Adewole, disclosed this in Uyo,while inspecting facilities at the Akwa Ibom State government’s-owned Ibom Specialist Hospital.

Adewole noted that “with the facilities at Ibom Specialist Hospital, medical tourism abroad can be reversed”.

According to the former Vice Chancellor of the University of Ibadan, “visiting the hospital complex today is an eye opener and as far as I know, there is no such complex like this anywhere in Nigeria.”

He declared that “with the proposed partnership, no Nigerian would be allowed to go abroad for treatment on government sponsorship

from January 2017”. We will partner to make sure that it works and reverses medical tourism. People from Ghana and Togo can come to Nigeria for medical treatment. We will start using this facility and with these facilities, no Nigerian will be allowed to go abroad for treatment,” he stressed.

He warned medical doctors to desist from running a syndicate of sending people abroad for treatment for pecuniary interest, noting that individuals could go abroad on their own expenses if they so wish but not on government sponsorship.

Meanwhile, the Akwa Ibom Professional Forum(AKIPROF) has called on those who accused the former Governor of Akwa Ibom State, Godswill Akpabio, of not doing anything in the state, particularly in the health sector to tender a public apology and pray for forgiveness from God and the people for their campaign of falsehood and hatred against the Senate Minority Leader.

This was contained in a statement issued by the group and signed by its National President, Pastor Odudu Udofia. “Those who have been encouraging and spreading lies and total falsehood on the incomparable achievements of the former governor should seek forgiveness from God and man or bury their heads in shame.”

FOR QUALITY WATER

L-R Director, Sustainability Centre, Lagos Business School, Sir Chris Ogbechie; Managing Director, Guinness Nigeria Plc, Peter Ndegwa, and Dean, Lagos Business School, Enase Okonedo at the 2016 World Water Day Symposium held in Lagos ...recently

FG Directs Full Investigation of MDCAN Set to Audit Members over Alleged Professional Laxity Global Fund Grants Martins Ifijeh Federal Government of Nigeria has directed the Anti-Corruption Agency, Economic and Financial Crime Commission (EFCC) to commence full investigation of the allege misappropriation of Global Fund Grants Nigeria received from 2010 – 2014.

This was revealed today by the Hon Minister of Health, Prof Isaac Adewole who said, “President Muhammadu Buhari GCFR gave the directive as part of government’s effort and commitment to fight corruption in the country. The President has also directed the Secretary to the Government of Federation to review earlier audit reports from the Office of Inspector General (OIG)”.

Thus, the SGF has set-up two high-powered investigative panels to look in to the affected programmes and the financial transactions. The first panel headed by the

Honourable Minister of Health, Professor Isaac Adewole will conduct in-depth review of all programmes while the second panel chaired by Auditor General of the Federation – Mr Samuel Ukura - will review all financial transactions during the period. The two committees were expected to submit their reports within 4 weeks.

“Mr President assured members of the international community that all funds received by Nigeria would be well utilised and accounted for under his watch to avoid national embarrassment” ,he said.

He further said that all indicted officials would be given fair hearing and those found guilty would be sanctioned to serve as deterrent to others.

The recent OIG report

by Global Fund indicted three agencies of Federal Government of Nigeria for misappropriation of specific intervention grants released.

Ademola Babalola in Ibadan The Medical and Dental Consultants Association of Nigeria (MDCAN) has declared its readiness to institute a process of self-auditing to address the alleged issue of professional laxity on part of her members.

This was contained in a fivepoint Communique issued at the end of the NEC meeting of the Association held in Sokoto recently, copies of which were made available to newsmen in Ibadan. In the Communique jointly signed by Professor Balarabe Sani Garko and Dr. Abdulkadir Rafindadi, the President and General Secretary respectively, MDCAN resolved to put in motion a machinery to actualize the self-auditing of members without further delay.

While resolving to reactivate the Medical Defense Union as an instrument to provide support or cover to members

who may suffer some vicarious liabilities in the course of pursuit of their legitimate duties, MDCAN also pledged to continue to support members/ branches of the Association and the management of their respective hospitals who are currently embroiled in professional related lawsuits.

It however enjoined all branches of the Association to demand payment of skipping allowance to members from the management of their hospitals while insisting that MDCAN branches should be proactive to ensure its realization.

The MDCAN used the forum to commiserate with the Government and people of Ekiti State, Ekiti State NMA and families of the six doctors who died in a road accident on their way to Sokoto for the NMA Annual Delegates Meeting while praying God to grant the families of the deceased colleagues the fortitude to bear the irreparable loss.

42

T H I S D AY THURSDAY, MAY 12, 2016

HEALTH MATTERS

HEALTH

By Goke T. Akinrogunde

goketakinrogunde@gmail.com

H

07037677348

Understanding Pimples

aving pimples (called acne vulgaris in medical diction) is almost an experience that all of us have had at one time in our life. It isn’t a curse to have pimples; as a matter of fact for the emerging adolescence it is one common sign of ‘growing up’.

Similarly, in some women, having pimples is a regular occurrence on a monthly basis, “cropping” pimples is a sign that the menses is fast approaching or that she is presently “on”.

Pimples occur when the oil-secreting glands in the skin are clogged and become inflamed or infected. Ninety percent of teenagers get acne, although this can still persist into the middle age, particularly in women during their reproductive years.

Pimples are caused by inflammation or infection of the oil glands in the skin and at the base of hairs called the sebaceous glands. In the teenage years, hormones stimulate the growth of body hair, and the oil glands secrete more oil. The skin pores, through which nourishing oil passes to the body hairs, become clogged and bacteria grow in the clogged pores.

Such that as the body defense mechanism works to kill the bacteria, whiteheads, blackheads, and pustules form in these areas.

stop appearing after 4 to 6 weeks of treatment, but one may probably need to continue the treatment for several months.

If an affected person is taking antibiotics, at some point the doctor will ask the person to stop taking them to see if they are still needed. Sometimes acne treatment must be continued for several years.

Factors that worsens acne Many factors may worsen acne temporarily.

For example, women may notice that their acne gets worse before each menstrual period.

So even with proper treatment, results may vary over time. It is, however, important to try to discover and change, when possible, the factors in ones environment or lifestyle that make the pimples worse.

Tips for helping out the pimples In addition to following the full treatment prescribed by the health care provider, the tips below might also assist with helping out the pimples: Wash the face 2 times a day with a gentle soap.

Change your washcloth every day (bacteria can grow on damp cloth).

Have your bath as soon as possible after exercise or a sweaty physical activity.

Wash the hands more frequently and avoid touching your face unnecessarily.

Don’t squeeze, pick, scratch, or rub your skin.

Scars may form if you squeeze pimples.

Don’t rest your face on your hands while you read, study, or watch TV. Any food to avoid?

Although researchers have not been able to show that any foods cause acne, some people have found that certain foods seem to worsen their acne.

The idea here is to keep a record of the foods an affected person eats and see if the food appears to make the pimples worse. And subsequently avoid these foods.

Symptoms Whiteheads: these are closed plugged of oil glands in the skin at the root of the body hairs.

Blackheads: these are open plugged oil glands (the oil turns black when it’s exposed to the air).

Pustules: these are red, inflamed, infected plugged oil glands, sometimes filled with pus.

Pustules could turn out to be complications of futile effort at pressing out the content of a pimple.

• Some pimples may be painful. In severe cases, cysts (large fluid-filled bumps) may develop under the skin.

Signs Usually, this is often self-evidenced in that a skin elevation of the skin can be seen or felt, which could come in the various forms outlined above. However, a professional guide by a doctor or better still a specialist dermatologist is better encouraged.

The health care provider will check the skin to assess the existing problem (such as whiteheads, blackheads. pustules or cysts). The provider will look to see where the problems are located, for example, the face or back.

It is also important for the provider to want to know how long the problem has been on, or if there is a cyclical nature to it occurrence as it might be the case in menstruating ladies.

In the same vein, the doctor will also certainly be interested in what treatment methods have been previously applied.

Treatment options Treatment is aimed at keeping oil and dirt out

A woman with pimples

of the pores and reducing inflammation. The knowledge of how one has been taken care of the pimples is important here, in order to know how to advance the treatment.

On a conservative approach, what is required is a simple soft toilet soap that will keep the body less oily and hence, discourage the plugging of the skin pore by excess oil.

The best approach is, when having ones bath, to allow the lather of the soap to remain on the skin for some time, say for five to ten minutes, before rinsing off with water. This is to allow sufficient time for the soap to penetrate the skin pores and to dissolve out the potential plugging oil substance in the pores.

Meanwhile, several products are available to help prevent pimples or blackheads.

Treatment usually begins with putting products containing “benzoyl peroxide” on the areas of

skin with acne.

If benzoyl peroxide alone is not effective, then one may also need to put antibiotic medications on the skin, as contained in some medicated soap. In some situation of stubborn pimples, the health care provider may prescribe antibiotics to be taken by mouth. Usually, for good result this medication may have to be taken for several weeks.

Similarly, an affected individual may also need to use a special skin cream or gel containing tretinoin (Retin-A).

In some instance, the health care provider may have to inject large cysts with special medication so that there will be better resolution and less scarring.

Expectations As mentioned above, new whiteheads usually

Other measures For those with fragile skin to sun as in whites and albinos, they should try not to get sunburned.

Avoid extreme stress if possible. Practice stress reduction strategies such as exercise, meditation and counseling if stress is extreme.

Exercise regularly.

It is important to keep follow-up appointments with the health care provider. Keep a record of the treatments received and tried and also how they have worked or otherwise.

Even if the ongoing treatment protocol fails, please do not get depressed or give up easily, knowing that there are many other treatment options. The best way to conquer pimples is to keep the face hopeful and happy knowing that it is a common problem and it is a battle that is winnable.

One-on-One My Troubling Arthritis I read a write up of yours in THISDAY, the Saturday Newspaper and will be pleased if you can send me more information on the osteoarthritis, which you treated in the article.

Furthermore, kindly oblige me the information of where I can go for treatment.

Thanks.

Charles Dear Charles, I am curious to know how you got your problem

confirmed as a true case of osteoarthritis. This is because I am inclined to assume that if you were diagnosed properly as a case of osteoarthritis by a medical practitioner, the doctor would have gone to town to enlighten you in details about the implication of the diagnosis.

Having said much, it is worthy of recall that osteoarthritis that the word is a combination of two words: ‘osteo’ (bone) and ‘arthritis’ (joint). Thus, osteoarthritis implies the “wear and tear disease” of the joints, where the bone

and cartilage tissues at the joints, particularly at the gliding joints (knee, hip, elbow etc) undergo degenerative changes due to the mechanical effect of wears and tears. This can be likened to the wearing-off of the threading of motor vehicle tyres and the sole of our shoes.

Osteoarthritis is therefore expectedly more common among the older age-groups and, to some extent, in women because of change in the hormonal (chemical) balance in their bodies, which favours such degeneration of the bone cartilages especially as they enter

menopause.

Having said this much, I advise you to see a medical practitioner with requisite knowledge for a proper guide on this matter on a one on one basis, which might involve the use relevant medical imaging procedure like x-ray, CT- scan etc to really ascertain the fact that your complaint is indeed a case of osteoarthritis. Or better still, get a referral to an Orthopaedic surgeon who has the right expertise on arthritis etc.

Best wishes

43

T H I S D AY THURSDAY, MAY 12, 2016

HEALTH

Sachet Water as a Threat to Public Health Odimegwu Onwumere Notions are that water is one medium through which pathogenic organisms are spread. The substantiation is that sachet or packaged water, which is the major means of drinking water in Nigeria, is not exempted of deadly organisms, due to its microbial substance. Unsafe water supply and laughable sanitation are fingered as the cause of over 70 per cent diseases in the developing countries.

Miss Eruchi Chinda, a resident of Port Harcourt, the capital of Rivers State, is fond of drinking chilled sachet water.

She later started experiencing symptoms of fever. She visited her doctor and was diagnosed of typhoid fever, caused by Salmonella typhi and related illnesses.

Professor Amobi Ilika, the Director of Community and Public Medicine at the Nnamdi Azikiwe Teaching Hospital (NAUTH), Nnewi, Anambra State, in March 2013, when in a civic presentation, cautioned that sachet water exposed to heat is capable of exposing the drinkers to cancerous materials.

Many won’t listen!

Chinda’s doctor informed her that the typhoid fever is unconnected to drinking impure water. The doctor touched sachet or packaged water as the causative factor, cases of people having diseases like cholera, dysentery, diarrhoea, typhoid fever, and so many others, abound today.

How sachet contaminated

water

gets

Professor Ilika was of the view that polythene bags made of synthetic petroleum deteriorates water in them, because the polythene bags are weather-susceptible. He averred that some of the sun ray or heat, melt some of the synthetic petroleum into the water. He enthused that the materials that will drop into the water are called carcinogenic.

Not only that, the polythene bags also build-up germs and micro organisms.

Chinda’s doctor confirmed that the diseases occur, because of the presence of bacterial features such as Bacillus sp., Pseudomonas sp., Klebsiella sp., Streptococcus sp., and oocysts of Cryptosporidia sp., that have been traced to be present in sachet water.

There are also traces of other microbial pathogens connected with water pollution which include Salmonella, Shigella, Vibrio, Campylobacter, Yersinia, Cryptosporidium and Giardia species, according to the experts, and they are not farfetched in this type of water.

The highlight of this is that vendors of the sachet water are not technically and scientifically grounded on handling and producing sachet water through storage and handling.

Why Nigerians drink sachet water Water, which is essential to human lives, has recorded immeasurable years of neglect in Nigeria by the successive governments, hence leaving the supply of drinking water in the country in undependable hands of sachet water producers.

The populace loves this brand of water, which comes in sizes ranging from 60 mL to 2 L, due to its portability.

However, many citizens are oblivious of the health hazards that it portends. The citizens may not be blamed, since they need ways to douse their urge for water. And it is cheap to purchase a sachet.

But that is not the least. As a viable business in Nigeria, the sellers of sachet water protested in some parts of the country in February 2016, due to the economic downturn that the country experienced. Their anger was that a bag of the product, with habitually 20 sachets that was sold at N100, had skyrocketed for N150.

A sachet that was sold for N10, jumped for N20.

The failure to provide safe, pipe-borne water for human consummation by the successive governments, led to the production of sachet water in Nigeria. The governments’ ineptitude geared the sale of such water by individuals, with many of the producers not having in-depth knowledge of producing quality water.

Re-certification of sachet water producers The authorities, having earful of complaints on the dangers associated to sachet water proposed a bill in the recent past, to ban this type of water in the country. But the bill later bit the dust.

The Director of Special

Duties, Mr. Abubakar Jimoh of National Agency for Food, Drugs Administration and Control (NAFDAC), on February 10 2014, said the agency, in cooperation with the Agency for Food and Drugs Administration and Control, and the Senate Committee on Health, had put every modality in place towards the re-certification and examining of sachet water producers in the country, with effect from March of the year in quote.

His words were that the agency spurred for the monitoring, because it had newly acquired mobile laboratory kit just like a van, well equipped with latest ultra-modern testing kit. What was intended to be done was for the agency to be moving with the ‘vehicle’ from one factory to another.

That was coming after January,2014, the Federal Ministry of Environment mouthed its plan to phase out light weight non-biodegradable plastics in the country, having collaborated with the United Nations Industrial Development Organisation (UNIDO), in December 2013, in a workshop, to put Nigerians on notice. Their gesture was that countries like China and South Africa had placed outright ban on light weight plastic bags, likewise some other countries.

Environmental degradation Sachet water packs are known as major sources of environmental degradation in

the country. On June 5, 2013, the authorities made known their plans to ban the use of plastic bags in the country, beginning by January 2014.

The Minister of Environment, Mrs. Hadiza Ibrahim Mailafia, disclosed this then, during the 2013 World Environment Day celebration in Abuja. The statement has not hold water as used sachet packs litre everywhere across the country. In some states of the federation, upon the introduction of waste banks, buy-back programme, to checkmate the nuisance of used sachet packs, orderliness is still elusive.

The country is in a big problem, as synthetic, black bags, polythene bags have crowded the ecosystem, constituting about 70 per cent of Nigeria’s non-biodegradable waste. There are indications that it takes over 20 years for a sachet water bag to get wholly decayed inside the soil.

Its presence decreases the quality of soil texture. The fear among experts is that these bags are in the landscape. And they are not bio-degradable, comprising a pain-in-the-neck.

The irony is that the country is in dearth of framework to address the issue.

The wastes block drains, gutters and canals. Not only that, they cause odiferous atmosphere. A new time comer to metropolis and urban centres in the country is greeted with the foul odour.

To the residents, the offensive smell has become part of their life. It means nothing to them.

Apart from the foul odour, sachet packs gathered by flood during the rain do not allow easy flow of water, hence causing overflow of erosion into residences. Seeing this, the state governments often introduce levies to residents to help dispose them of their wastes, but this does yield little or no result.

Suggestions on how to get out of the puzzle Checks revealed that waterborne disease outbreaks can be checkmated by the provision of potable water, which is often regulated to keep public health, owing to the fact that drinking water is an important environmental determinant of health.

In order to rearrange the system, water treatment plants should be provided, such with a capacity over 5,000 m3/d, based on the population. Specialists intoned that poor operation and lack of maintenance that led to the breakdown of the water systems should be reviewed.

This will enable the citizens not to rely on unreliable wells, unprocessed water from rivers and streams used in producing sachet water.

Onwumere a poet, writer and consultant, wrote from Port Harcourt Email: apoet_25@yahoo.com

Health Minister to Grace 3rd Nigerian Healthcare Award Martins Ifijeh The Minister of Health, Prof.

Isaac Adewole, has officially confirmed his attendance as the Chief Guest of Honour at the upcoming Nigerian Healthcare Awards. While expressing gratitude for the invitation to recognise and celebrate individuals and organisations committed to qualitative healthcare service delivery, he confirmed that the award was in line with the government’s agenda to save lives by ensuring excellent performance in the health sector as well as stimulate healthy competition amongst practitioners in the healthcare community.

Nigerian Healthcare Excellence Awards, the Oscar of the Nigerian healthcare is an annual event that is aimed at celebrating individuals and organisations who have contributed to the development of the healthcare sector through innovative, efficient and qualitative healthcare delivery services that have significantly impacted the health and well-being of the citizens.

NHEA is an initiative of Global Health Project and Resources (GHPR), in collaboration with Anadach Group, USA. Various stakeholders will be recognised in 29 different

categories which includes the Lifetime Achievements Award, Outstanding State Government Healthcare Programme of the year; Outstanding CSR Health Project of the year; Health Care Media Excellence Award-Print and Electronics; Special Recognition Awards; Healthcare Heroes Awards; Private Healthcare Provider of the year; Public Healthcare Provider of the year; Private Laboratory Service Provider of the year; Public Laboratory Service Provider of the year; Radiology Service Provider of the year; Health Maintenance Organisation of the year; Healthcare Support Service Provider of the year; IVF Service Provider of the year; Dialysis Service Provider of the year; Eye Care Service Provider of the year; Dental Service Provider of the year; Physiotherapy Service Provider of the year; Biomedical Engineering Service Company of the year, etc.

According to Dr. Wale Alabi, the Project Director, “our aim is to celebrate those that have been able to make substantial contribution to Nigeria’s Healthcare sector despite the daunting challenges.”

Nominations for the various award categories are ongoing on www.nigeriahealthcareawards.com

FOR BETTER HEALTHCARE

Doctor-in-Charge, INVIVO Healthcare Facility, Ibadan, Dr. Funto Ogundapo, attending to a patient during one of its free consultation services in Ibadan ...recently

Young Pharmacists Lead Diabetes Campaign Martins Ifijeh According to the World Health Organisation (WHO), in 2012, diabetes was the direct cause of 1.5 million deaths and 80 per cent of diabetes deaths occur in low and middle-income countries which include Nigeria.

Type 2 diabetes accounts for about 90 per cent of diabetes worldwide. While Type 2 diabetes can be prevented, lack of awareness about diabetes, combined with insufficient access to health services and essential medicines can lead to

complications such as blindness, amputation and kidney failure.

The President of Lighthouse Global Health Initiative (LGHI), Pharmacist Adebisi Adenipekun, has mobilised over 50 young volunteers to move diabetes morbidity and mortality in Nigeria from concerns to actions.

The campaign which held simultaneously in three states; Ten family market, Anwa Udo Akai road Ikot Ekpene, Akwa Ibom State; Kampala village, Niger state; and Mayfair market, Ile-Ife, Osun states, was

led by Pharmacists Olurogba Badewo and Folarin Olaniran as project managers. Cumulatively, more than 200 adults had free blood sugar test, free medical consultations, free medications where required and appropriate referral to the nearest health facilities.

The project, according to Adenipekun, was sponsored and supported by corporate organisations such as Swiss Pharma Nigeria Ltd., Lily Pharmacy and Stores ltd., Giftalive Pharmacy, JDJ Pharmacy, Ariplus Pharmacy,

Phaim Pharmacy, Bembrose Pharmacy, Nigeria Christian Corpers Fellowship (NCCF) and some individuals’ donation.

The young pharmacist, explained that the objective of the campaign aimed to launch LGHI interventions on diabetes prevention and management among vulnerable populations in Nigeria; and to commemorate the World Health Day 2016 by increasing level of knowledge on prevention and management of diabetes among vulnerable populations were achieved.

44

THURSDAY MAY 12, 2016 T H I S D AY

T H I S D AY THURSDAY MAY 12, 2016

45

46

THURSDAY MAY 12, 2016 T H I S D AY

T H I S D AY THURSDAY MAY 12, 2016

47

48

THURSDAY MAY 12, 2016 T H I S D AY

T H I S D AY THURSDAY MAY 12, 2016

49

50

THURSDAY MAY 12, 2016 T H I S D AY

51

THURSDAY MAY 12, 2016 • T H I S D AY

INTERNATIONAL

email:foreigndesk@thisdaylive.com

Brazil’s Senate Opens Session, May Suspend Rousseff President Dilma Rousseff was expected to become Brazil’s first leader in more than two decades to be removed from office as the Senate began a session yesterday that will vote on whether to try her for breaking budget rules.

If her opponents garner a simple majority in the 81-seat Senate, Rousseff will be suspended for up to six months during her trial, ending 13 years of leftist Workers Party rule in Latin America’s largest economy.

Well over half of senators have told newspapers they will vote to try Rousseff and the first woman to lead Brazil is expected to depart the Planalto presidential palace on Thursday. Senators started the voting session at mid-morning on Wednesday. Each member of the upper house will get the chance to speak. The final vote is expected to take place at around 10 p.m. (0100 GMT on Thursday).

The prospect of businessfriendly Vice President Michel Temer taking power has driven Brazilian financial markets sharply higher this year, on hopes his team could cut a massive fiscal deficit and return the economy to growth.

Rousseff has seen her popularity crushed by a long-running

probe into a vast kickback scheme at state-run oil company Petrobras (PETR4.SA), at a time when she was chairwoman of the company, which has tainted her political allies. The political crisis has deepened Brazil’s worst recession since the 1930s.

It comes less than two years after Rousseff was narrowly reelected to a second four-year term and at a time when Brazil hoped to be shining on the world stage, as it prepares to host the Olympic Games in Rio de Janeiro in August.

Opinion polls show an overwhelming majority of Brazilians want to see Rousseff impeached.

But the surveys also indicate scant popular support for Temer.“I voted for Dilma, I believe in her as a leader, but I also think she has done such a bad job that it is time for her to go,” said Leticia Britto, a 23-year-old business student from Sao Paulo, visiting Brasilia for a national conference on women’s rights.“The best way forward would be to call for new elections.”

Temer is expected to announce a new cabinet as soon as Thursday. Leaning toward a liberal economic policy, he has picked former central bank chief

Henrique Meirelles as Finance Minister and, according to local media, Itau Unibanco’s chief economist Ilan Goldfajn as head of the central bank.

“Temer may enjoy a honeymoon with markets for some weeks, maybe months, but when investors come to realize that the fiscal results will not improve fast enough, then we could see some disappointment later this year,” said Bruno Lavieri, an economist with consultancy 4E, in Sao Paulo.

If the case goes to a trial in the

Senate, presided over by the head of the Supreme Court, Rousseff’s opponents are confident they can muster the two-thirds of votes needed to unseat the unpopular president. Temer would then fulfill the remainder of her mandate until elections in 2018.

Rousseff, a 68-year-old economist who was tortured during Brazil’s long dictatorship for her role in a Marxist guerrilla group, has said her impeachment is illegal and branded it a ‘coup’. She has vowed to fight the process until

the last minute and her government appealed to the Supreme Court on Tuesday.

“I will not resign, that never crossed my mind,”Rousseff said in a speech on Tuesday, to cheers from supporters. The Workers Party, determined to resist being dislodged from power, also sought an injunction from the Supreme Court to block Temer from firing Rousseff’s ministers and naming a new cabinet until the impeachment trial is concluded, a court clerk

said.

Senate leader Renan Calheiros, of Temer’s Brazilian Democratic Movement Party (PMDB), said as he entered the Senate on Wednesday that he would not cast a vote because wanted to retain neutrality. But he was already using the past tense when referring to Rousseff’s presidency.“Temer needs the backing of Congress to carry out deep reforms, above all reform of the political system, if he becomes president,” Renan said.

Hillary Clinton Loses West Virginia Primary The United States Democratic White House candidate, Hillary Clinton, has lost the primary to Bernie Sanders in economically struggling West Virginia, possibly signaling trouble for her in industrial states in the November general election.

The defeat slowed Clinton’s march to the nomination, but she is still heavily favored to become the Democratic candidate in the November 8 election to face presumptive Republican nominee, Donald Trump.

Trump, 69, has zeroed in on Clinton’s long battle with Sanders,

the 74-year-old U.S. senator from Vermont. He has taunted Clinton in recent days, saying she“can’t close the deal.” The billionaire Republican won contests in West Virginia and Nebraska handily on Tuesday.

Trump has begun to release more policy specifics as he nears his party’s nomination and in the last month has contacted at least two top conservative economists, Larry Kudlow of CNBC and Stephen Moore of the Heritage Foundation, for help revising his tax package..

His tax plan has been under

scrutiny as he has worked to tone down remarks about raising taxes on wealthy Americans, saying the rich might simply get a smaller tax cut than he originally proposed.

For Clinton, 68, her failure to win over voters deeply skeptical about the economy underscored how she still needs to court working-class voters in the Rust Belt, including key states such as Ohio and Pennsylvania. West Virginia has one of the highest unemployment rates in country.

Sanders, who has vowed to take his campaign all the way to the Democrats’July 25-28 convention

in Philadelphia, has repeatedly said he is the stronger candidate to beat Trump in November, and following his West Virginia win, he emphasized economic themes. Trump is set to meet with party leaders in the U.S. Congress on Thursday, including U.S. House of Representatives Speaker Paul Ryan. After Ryan said last week that he was not ready to endorse Trump, the presumptive nominee said he would have to decide whether he still wan t e d R ya n t o preside over the party’s Ju l y c o nv e n t i o n .

52

T H I S D AY • THURSDAY,MAY 12, 2016

BUSINESS/MONEYGUIDE

Oduoza: Nigerian Banks Not Over-regulated UBA, EXIM Bank sign $100m trade financing MoU

From Tokunbo Adedoja and Obinna Chima in Kigali, Rwanda The Group Managing Director/ Chief Executive Officer of the United Bank for Africa (UBA) Group, Mr. Phillips Oduoza, has said that the perception that the Nigerian banking sector is over-regulated is not true, adding that the industry remains strong with improved regulatory oversight.

Oduoza said this in an interview with THISDAY yesterday in Kigali, Rwanda at the ongoing World Economic Forum (WEF) on Africa.

Oduoza, who will be stepping down as the bank’s CEO at the end of July this year, said: “I do not think that Nigerian banks are over-regulated. I think you need to look at other jurisdictions and look at the level of regulations we have. One of the most regulated environment is

the United States. If anything at all, I think they are moderately regulated.

“So, I think the banking industry remains strong and governance is very strong compared with where we are coming from, risk management is very robust and the industry is very strong.”

Also yesterday, UBA signed a $100 million trade financing memorandum of understanding (MoU) with the Export-Import Bank of the United States (EXIM Bank) on the sidelines of the WEF on Africa.

Both institutions explained that the MoU would provide up to $100 million to finance the purchase of American goods and services. The Chairman and President of the EXIM Bank, Fred P. Hochberg, and Oduoza, signed the MOU, with the goal of expanding trade between the US and sub-Saharan Africa.

Both of them were joined by

the Deputy Managing Director and Group Managing Director Designate, UBA, Mr. Uzoka Kennedy, as well as the Group Head, Financial Institutions and International Organisations, UBA, Sola Yomi-Ajayi, at the signing ceremony.

Shedding more light on the agreement, Oduoza while speaking with THISDAY said: “For us in Nigeria and for our customers across Africa, it means that they have a source of funding for their transactions, especially the medium to long-term funds which you don’t normally find in the market easily. It implies that once you are importing goods from the US, then facility is available for you to draw upon.

“For us in Nigeria, for those that are involved in manufacturing, it will also assist them to a very large extent. So, it is not a question of one having a good project, but there are no financing.

CBN Unveils Guidelines for Noninterest MFBs Obinna Chima The Central Bank of Nigeria (CBN) yesterday released a draft guidelines on the regulation and supervision of non-interest (Islamic) micro finance banks (MFBs) in the country.

A Non Interest (Islamic) Financial Institution (NIFI) means a bank under the purview of the CBN, which transacts banking business, engages in trading, investment and commercial activities and also provides financial products and services in accordance with the principles of Islamic Commercial Jurisprudence. Similarly, a Non Interest (Islamic) Microfinance Bank (NIMFB) means any MFB licenced by the CBN to carry on the business of providing financial services, engages in trading, investment and commercial activities and also provides financial products and

services as specified in Section two of the guidelines.

In the document posted on its website, the banking sector regulator placed the NIMFBs into three categories namely Unit, State and National.

A Unit NIMFB is authorised to operate in one location. It shall be required to have a minimum paid-up capital of N20 million and is allowed to have only one branch outside the head office within the same Local Government Area subject to availability of free funds of at least N20 million and compliance with the prescribed minimum prudential requirements.

On the other hand, a State NIMFB is authorised to operate in one State or the Federal Capital Territory (FCT). It shall be required to have a minimum paid-up capital of N100 million and is allowed to open branches within the same state or the FCT,

subject to the availability of free funds and the prior approval of the CBN for each new branch or cash centre.

Also,a National NIMFB is authorised to operate in all the states of the federation including the FCT. It shall be required to have a minimum paid-up capital of N2 billion, and is allowed to open branches in all states of the Federation and the FCT, subject to the availability of free funds and the prior approval of the CBN for each new branch or cash centre.

“The prescribed minimum capital requirement for each Category of NIMFB may be reviewed from time to time by the Central Bank of Nigeria.

The role of MFBs in poverty reduction, increased access to financial services, contribution to financial stability and economic development has been established in Nigeria and around the globe,” the CBN added.

BoI, Katsina Govt Launch N2bn Financing Intervention for MSMEs James Emejo in Abuja The Bank of Industry (BoI) and the Katsina State government have jointly set up a N2 billionenterprise development fund to boost the entrepreneurial prospects of indigenes in the state.

The inauguration of the matching-fund followed the commissioning of the bank’s Katsina office, by the State Governor, Aminu Masari.

Speaking during the signing of the memorandum of understanding (MoU) between both parties, BoI’s acting Managing Director, Mr. Waheed Olagunju said the bank’s total loan exposure to industrialists in the state had reached N11.4 billion.

He said under the terms of the partnership, the state government would provide N1 billion, which would be matched in like sum by the bank for onward lending to Micro Medium, Small and

Micro Enterprises (MSMEs) with bankable business plans.

He said:”The Bank of Industry decided to open its Katsina State Office so as to sustain the institution’s continued efforts at serving Katsina State better and vastly improve on the turnaround time (TAT) for processing transactions.”

According to him, Katsina State is very central to BOI’s strategy of ensuring that our development finance services are brought closer to the people of the State especially in our bid to vastly improve our service delivery efficiency, while also reaching out to all parts of the entire North West region.”

Olagunju further explained that the financing model of fund-matching with states had become imperative if the bank must meet its financial obligations to industrialists across the country.

He pledged the bank’s commitment to support the

newly unveiled economic and investment blueprint of the state, noting that it has so far provided loans in excess of N11.4 billion to over 40 micro, small, medium and large enterprises across the state with over 30,000 direct and indirect jobs created.

According to the acting BoI boss, as part of its bid to deepen its credit delivery process, the bank had also introduced product programmes that are targeted at funding projects in the 40 identified business clusters in the country.

As one of the major beneficiaries of the programmes, he added that the bank’s state office had identified 10 clusters in Katsina State that would be accorded priority financial support.

These include cotton ginning, animal feeds/production, food processing, meat processing, solar (off grid), quarries diary, ceramics and tiles and technical and vocational skills.

Oduoza

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

FEBRUARY 2016 Broad Money (M2)

20,489,166.72

-- Narrow Money (M1)

9,095,578.34

---- Currency Outside Banks

1,377,483.11

---- Demand Deposits

7,682,095.23

-- Quasi Money

11,429,588.38

Net Foreign Assets (NFA)

5,471,351.78

Net Domestic Assets(NDA)

15,017,814.94 22,414,322.75

-- Net Domestic Credit (NDC) ---- Credit to Government (Net)

3,424,029.62

---- Memo: Credit to Govt. (Net) less FMA

4,807,604.55

---- Memo: Fed. and Mirror Accounts (FMA)

1,383,574.93

---- Credit to Private Sector (CPS)

18,990,293.13

--Other Assets Net

7,396,507.81

Reserve Money (Base Money)

5,095,380.23

--Currency in Circulation

1,711,623.51

--Banks Reserves

3,383,756.72 • Source - CBN

MANAGED FUNDS Initial Price (N) Stanbic Balanced Fund

Buying Price(N)

Selling Price

1,660.29

1,685.29

Stanbic IBTC NEF

1,000.00

11,002.32

11,326.67.11

Stanbic SIBond

20

120.47

120.47

Stanbic IBTC Ethical

1

1.10

1.13

Stanbic IBTC GIF

142.90

143.38

UBA Balanced Fund

1.2563

1.2493

UBA Bond Fund

1.3443

1.3443

UBA Equity Fund

0.8205

0.8074

UBA Money Market Fund

1.1510

1.1510

ARM Aggressive Growth Fund

N13.0544

N13.4480

ARM Discovery Fund

N288.2515

N296.9425

ARM Ethical Fund

N22.5268

N23.2060

ARM Money Market Fund

13.1030 (Yield % ) • Monetary Policy Rate - 13%

OPEC DAILY BASKET PRICE AS AT TUESDAY, 10 MAY 2016 The price of OPEC basket of thirteen crudes stood at $40.20 a barrel on Tuesday, compared with $40.76 the previous day, according to OPEC Secretariat calculations.

The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Minas (Indonesia), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

SOURCE: OPEC headquarters, Vienna

53

T H I S D AY • thurSDAY, mAY 12, 2016

Nigeria’s top 50 stocks based on market fundamentals

11-May-16 10-May-16

% Change

Capitalisation

EPS

P/E

P/S

Div. Yld

Price/ Book Value

Table 1 Market Statistics Mkt Indicators

01 Dangote Cement Plc

162.52

163.83

-0.80%

2,769,423,263,460.60

10.64

15.27

5.63

4.92%

4.30

02 Nigerian Brew. Plc.

118.00

117.51

0.42%

935,633,904,784.00

5.37

21.98

3.39

3.05%

5.49

03 Nestle Nigeria Plc.

690.00

690.00

0.00%

546,932,813,880.00

29.95

23.04

3.62

4.20%

14.39

04 Guaranty Trust Bank Plc.

18.35

18.01

1.89%

540,062,138,760.40

3.38

5.43

2.36

9.65%

1.31

05 Zenith Bank Plc

13.80

13.80

0.00%

433,271,614,246.80

3.37

4.10

1.00

13.04%

0.73

Table 3 Top 5 Gainers

06 Lafarge Africa Plc.

69.00

69.50

-0.72%

314,288,224,890.00

5.93

11.64

1.18

4.35%

1.78

Stock

210.00

210.00

0.00%

273,521,031,630.00

4.45

47.21

2.19

1.64%

5.91

14.41

14.51

-0.69%

264,417,033,008.15

1.39

10.35

0.51

4.30%

0.71

340.00

340.00

0.00%

188,125,506,420.00

23.48

14.48

1.67

4.68%

0.67

10 Guinness Nig Plc

94.80

94.99

-0.20%

142,758,200,222.40

0.78

121.81

2.86

0.00%

3.19

11 Stanbic IBTC Holdings Plc

14.13

14.13

0.00%

141,300,000,000.00

2.04

6.94

1.20

0.71%

1.26

12 Unilever Nigeria Plc.

37.22

37.31

-0.24%

140,814,286,425.00

0.32

118.10

2.38

0.13%

17.59

13 Access Bank Plc.

4.31

4.30

0.23%

124,679,557,729.61

2.28

1.89

0.37

12.76%

0.34

14 United Bank for Africa Plc

3.42

3.39

0.88%

124,075,980,021.24

1.64

2.08

0.39

17.54%

0.37

15 FBN Holdings Plc

3.45

3.40

1.47%

123,838,760,132.40

0.42

8.18

0.25

4.35%

0.21

16 7-Up Bottling Comp. Plc.

145.00

145.00

0.00%

92,885,602,635.00

11.12

13.04

1.19

1.52%

3.87

17 P Z Cussons Nigeria Plc.

21.00

21.05

-0.24%

83,380,017,945.00

1.10

19.14

1.15

6.19%

1.98

18 Dangote Sugar Refinery Plc

5.79

5.85

-1.03%

69,480,000,000.00

0.96

6.02

0.69

8.64%

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 Flour Mills Nig. Plc.

23.76

24.99

-4.92%

62,351,875,563.12

1.84

12.90

0.19

8.42%

0.61

21 Julius Berger Nig. Plc.

43.00

43.00

0.00%

56,760,000,000.00

1.85

23.26

0.42

3.49%

2.34

155.09

155.09

0.00%

55,924,719,183.58

13.51

11.48

0.87

4.64%

3.64

4.57

4.57

0.00%

54,998,208,345.58

0.50

9.14

0.10

16.41%

0.35

150.41

152.00

-1.05%

51,067,479,503.17

11.92

12.62

0.25

9.31%

3.14

25 Sterling Bank Plc.

1.71

1.71

0.00%

49,231,614,995.46

0.36

4.78

0.45

5.26%

0.52

26 Transnational Corporation Of Nigeria Plc

1.12

1.08

3.70%

43,367,517,116.00

0.05

21.35

1.06

0.00%

0.50

07 Forte Oil Plc. 08 Ecobank Transnational Incorporated 09 Seplat Petroleum Dev. Co. Ltd.

22 Mobil Oil Nig Plc. 23 Oando Plc 24 Total Nigeria Plc.

27 Diamond Bank Plc

1.69

1.61

4.97%

39,141,057,355.92

0.24

6.92

0.18

0.00%

0.18

28 U A C N Plc.

18.63

18.63

0.00%

35,785,703,529.81

2.70

6.90

0.49

5.37%

0.48

29 Presco Plc

35.70

35.70

0.00%

35,700,000,000.00

3.28

10.89

3.14

0.28%

1.59

1.17

1.14

2.63%

33,886,225,259.64

0.48

2.44

0.23

13.68%

0.18

15.64

15.64

0.00%

29,375,079,905.60

3.21

4.88

0.87

8.31%

2.84

0.73

0.80

-8.75%

28,159,360,239.13

0.06

12.10

0.61

0.00%

0.61

33 Okomu Oil Palm Plc.

29.11

29.11

0.00%

27,768,320,100.00

2.76

10.55

2.85

0.34%

2.30

34 Cap Plc

38.50

38.50

0.00%

26,950,000,000.00

2.49

15.49

3.82

2.99%

17.73

35 Glaxo Smithkline Consumer Nig. Plc.

20.36

20.36

0.00%

24,348,045,295.68

0.81

25.23

0.79

1.47%

1.85

36 National Salt Co. Nig. Plc

8.59

8.47

1.42%

22,758,675,667.02

0.79

10.81

1.41

6.40%

3.21

37 Custodian And Allied Insurance Plc

3.79

3.79

0.00%

22,292,265,299.05

0.71

5.31

0.75

3.69%

0.86

38 FCMB Group Plc.

1.09

1.04

4.81%

21,584,954,751.29

0.24

4.53

0.14

9.17%

0.13

39 Mansard Insurance Plc

2.00

1.94

3.09%

21,000,000,000.00

0.16

12.63

1.27

2.50%

1.21

40 Skye Bank Plc

1.09

1.07

1.87%

15,129,528,536.90

0.85

1.28

0.11

27.52%

0.11

41 Honeywell Flour Mill Plc

1.59

1.64

-3.05%

12,609,014,276.22

0.14

11.26

0.26

10.06%

0.59

42 Continental Reinsurance Plc

1.01

1.03

-1.94%

10,476,471,755.12

0.21

4.89

0.53

11.88%

0.67

43 Cement Co. Of North.Nig. Plc

7.04

6.71

4.92%

8,847,011,472.64

0.96

7.37

0.68

1.42%

0.87

44 Unity Bank Plc

0.72

0.69

4.35%

8,416,323,318.24

0.54

1.33

0.13

0.00%

0.10

45 UACN Property Development Co. Limited

4.10

4.10

0.00%

7,046,874,979.50

1.81

2.27

0.63

17.07%

0.21

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

3.95

3.95

0.00%

6,415,664,062.50

0.33

11.93

0.75

5.06%

1.05

48 AIICO Insurance Plc.

0.83

0.81

2.47%

5,752,069,718.40

0.28

3.00

0.17

6.02%

0.59

49 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

50 Fidson Healthcare Plc

2.14

2.04

4.90%

3,210,000,000.00

0.50

4.31

0.39

2.34%

0.51

30 Fidelity Bank Plc 31 Cadbury Nigeria Plc. 32 Wema Bank Plc.

TOTAL

8,207,483,217,348.17

TOTAL MARKET CAP

8,819,838,610,424.04

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

93.06%

NSE All Share Index NSE Market Cap (N'Trillion) Thisday BGL 50 Index Thisday BGL 50 Market Cap (N'Trillion)

O5pen Close Change % 10-May-16 11-May-16 25,646.56 8.82

25,630.62 8.82

-0.06% -0.02%

105.54 8.22

105.41 8.21

-0.13% -0.13%

O5pen Close Change % 10-May-16 11-May-16

Diamond Bank Plc Cement Co. Of North.Nig. Plc Fidson Healthcare Plc FCMB Group Plc. Unity Bank Plc

1.61 6.71 2.04 1.04 0.69

1.69 7.04 2.14 1.09 0.72

4.97% 4.92% 4.90% 4.81% 4.35%

Table 4 Top 5 Losers Stock

O5pen Close Change % 10-May-16 11-May-16

Wema Bank Plc. Flour Mills Nig. Plc. Honeywell Flour Mill Plc Continental Reinsurance Plc Total Nigeria Plc.

0.80 24.99 1.64 1.03 152.00

0.73 23.76 1.59 1.01 150.41

-8.75% -4.92% -3.05% -1.94% -1.05%

Market ASI declines by 0.06% Market pulse on the Nigerian Stock Exchange (NSE) today – Wednesday, May 11, 2016 ended on a negative note as the market closed red. Despite bearish activities in the market, there were positive performances from all NSE Sub sectors; Banking, Consumer Goods, Insurance and Oil & Gas. Trading activities decreased in volume as 198.46 million shares worth N1.60 billion in 3,538 deals exchanged hands today. This is a decrease from the 237.84 million shares worth N1.36 billion in 3,885 deals carried out on Tuesday. Topping in volume terms are FCMB Group Plc, Guaranty Trust Bank Plc and United Bank for Africa Plc, while Nigerian Breweries Plc and Guaranty Trust Bank Plc ended trading as the most active stocks in value terms.

The All Share Index (NSEASI) closed negative with a negligible 0.06% (-15.94) decrease to 25,630.62 from 25,646.56 the previous trading day. Market Capitalization appreciated in tandem to N8.819 trillion from N8.821 trillion of prior trading day.

Similarly, the Thisday BGL 50 Index followed suit with a decrease of 0.13% to close at 105.41 from 105.54 the previous trading day, while its market capitalization stood at N8.21 trillion from N8.22 trillion of the previous trading day.

A total number of 31 stocks gained on the bourse today while 20 stocks declined, leaving 47 stocks unchanged. Diamond Bank Plc emerged the toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 4.97% to close at N1.69 per share. It was followed by CCNN Plc with a gain of 4.92% to close at N7.04 per share. Others on the gainers list include; Fidson Healthcare Plc, FCMB Group Plc and Unity Bank Plc, while on the decliners’ list; Wema Bank Plc led with a loss of 8.75% to close at N0.73 per share. It was followed by Flour Mills Nig. Plc with a loss of 4.92% to close at N23.76 per share.

Others on the losers list include: Honeywell Flour Mill Plc, Continental Reinsurance Plc and Total Nigeria 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

54

T H I S D AY • THURSDAY,MAY 12, 2016

MARKET NEWS

International Breweries Recommends 35 kobo Dividend, Grows Profit by 36% Goddy Egene and Eromosele Abiodun Shareholders of International Breweries Plc are to receive a dividend of 35 kobo per share for the year ended March 31, 2016.

The directors of the company made the recommendation of the dividend in the company’s audited results released to stock market operators yesterday.

The dividend, which amounts

billion to N10.708 billion, while profit before tax (PBT) grew by 29.8 per cent from N2.815 billion to N3.656 billion.

PAT stood at N2.635 billion, showing a jump of 36 per cent above the N1.946 billion recorded in 2015. Hence, the directors recommended a dividend of 35 kobo to be paid to shareholders whose names would be on the company’s register as at July 15, 2016.

to N1.153 billion will be paid out of a profit after tax (PAT) of N2.653 billion recorded for the year. In all, the brewery reported an impressive performance for the year with all performance indicators looking northwards.

International Breweries ended the year with revenue of N23.269 billion, showing an increase of 12 per cent above the N20.64 billion in 2015. Gross profit rose by 15 per cent from N9.061

Looking at the fourth quarter result of the company, analysts at FBN Quest said While sales of N6.8 billion were up 28 per cent, PBT and PAT grew much faster, by 120 per cent and 90 per cent to N1.3 billion and N943 million respectively.

“Although operating expenses grew by 69 per cent, this was not enough to offset the strong sales growth and a gross margin

expansion of 625 basis points (bps) to 35.5 per cent. These positives led to the significant improvement in PBT. However, PAT growth was held back due to a higher tax rate of 25 per cent (versus 13 per cent in Q4 2015),” they said.

The analysts noted that compared with their estimates, while Q4 sales were ahead by 25 per cent, PBT and PAT were ahead by 126 per cent on average.

DAILY STOCK MARKET REPORT T H E

N I G E R I A N

STO C K

According to them, full-year sales were in line with consensus estimates of N23 billion while PBT was ahead consensus estimate of N3.3bn by 12 per cent.

Year-to-date, International Breweries shares have gained 25 per cent, significantly outperforming the broad index which has shed -10.5 per cent and rivals, Nigerian Breweries (-14 per cent) and Guinness Nigeria (-21 per cent)

E XC H A N G E

Prices for Securities Traded as of 11/05/2016

Printed 11/05/2016 14:33:01.001

PRICES FOR PREMIUM BOARD SECURITIES

Price List (Equities)

FINANCIAL SERVICES S/N 1

BANKING ZENITH INTERNATIONAL BANK PLC

MARKET CAP(Nm)

PRICE

%CHANGE

433,271.61

13.80

0.07

TRADES

BANKING S/N 2

OTHER FINANCIAL INSTITUTIONS FBN HOLDINGS PLC

MARKET CAP(Nm)

PRICE

%CHANGE

123,838.76

3.45

1.47

S/N

VOLUME

297

12,541,065

297

12,541,065

TRADES

VOLUME

234

10,152,978

OTHER FINANCIAL INSTITUTIONS

234

10,152,978

FINANCIAL SERVICES

531

22,694,043

3

BUILDING MATERIALS DANGOTE CEMENT PLC

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

2,769,423.26

162.52

-0.80

16

60,838

BUILDING MATERIALS

16

60,838

INDUSTRIAL GOODS

16

60,838

547

22,754,881

PREMIUM BOARD TOTALS PRICES FOR MAIN BOARD SECURITIES CROP PRODUCTION

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

12

49,751

OKOMU OIL PALM PLC.

27,672.93

29.01

-

6

PRESCO PLC

35,700.00

35.70

-

CROP PRODUCTION FISHING/HUNTING/TRAPPING

MARKET CAP(Nm)

PRICE

%CHANGE

FISHING/HUNTING/TRAPPING S/N 8

LIVESTOCK/ANIMAL SPECIALTIES LIVESTOCK FEEDS PLC.

LIVESTOCK/ANIMAL SPECIALTIES AGRICULTURE

15

89,301

27

139,052

TRADES

VOLUME

0

0

9

DIVERSIFIED INDUSTRIES A.G. LEVENTIS NIGERIA PLC.

11

JOHN HOLT PLC.

13

TRANSNATIONAL CORPORATION OF NIGERIA PLC

14

U A C N PLC.

REAL ESTATE INVESTMENT TRUSTS (REITS)

23

UPDC REAL ESTATE INVESTMENT TRUST

AUTOMOBILES/AUTO PARTS

CHAMPION BREW. PLC.

27

GUINNESS NIG PLC

28

INTERNATIONAL BREWERIES PLC.

30

NIGERIAN BREW. PLC. BEVERAGES--NON-ALCOHOLIC

2,647.29

1.00

2.04

11

576,713

295.76

0.76

-5.00

8

297,067

45,535.89

1.12

3.70

35,785.70

18.63

-

157

S/N

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES 0

0

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

0

0

TRADES

VOLUME

MARKET CAP(Nm)

PRICE

%CHANGE

56,760.00

43.00

-

MARKET CAP(Nm)

PRICE

%CHANGE

7,046.87

4.10

-

MARKET CAP(Nm)

PRICE

%CHANGE

26,682.70

10.00

-

VOLUME

6

13,659

6

13,659

TRADES

VOLUME

10

87,000

10

87,000

TRADES

VOLUME

1

50

1

50

17

100,709

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES 0

0

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

VOLUME

23,097.01

2.95

4.98

10

119,734

142,758.20

94.80

-0.20

34

539,500

65,884.99

20.00

-

41

243,354

935,633.90

118.00

0.42

104

4,132,349

189

5,034,937

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

-

6 6

3,875

TRADES

VOLUME

18

195,931

34

FLOUR MILLS NIG. PLC.

62,351.88

23.76

-4.92

123

1,176,552

35

HONEYWELL FLOUR MILL PLC

12,609.01

1.59

-3.05

59

1,935,441

1,185.03

6.65

-

3,875

1

4,000

38

NASCON ALLIED INDUSTRIES PLC

22,758.68

8.59

1.42

49

4,216,092

40

TIGER BRANDED CONSUMER GOODS PLC

25,250.00

5.05

10.02

200

5,211,795

42

UNION DICON SALT PLC.

3,523.34

12.89

4.97

8

152,993

458

12,892,804

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

29,375.08

15.64

-

531,872.35

671.00

-

FOOD PRODUCTS

17

MARKET CAP(Nm)

PRICE

24,240 75,826

TRADES

VOLUME

0

0

%CHANGE

TRADES

VOLUME

%CHANGE

HOUSEHOLD DURABLES

48

P Z CUSSONS NIGERIA PLC.

49

UNILEVER NIGERIA PLC.

MARKET CAP(Nm)

PRICE

51,586

45 62

FOOD PRODUCTS--DIVERSIFIED

PERSONAL/HOUSEHOLD PRODUCTS

83,380.02

21.00

-0.24

28

244,132

140,814.29

37.22

-0.24

63

537,052

91

781,184

806

18,788,626

PERSONAL/HOUSEHOLD PRODUCTS CONSUMER GOODS FINANCIAL SERVICES S/N 50

BANKING ACCESS BANK PLC.

51

DIAMOND BANK PLC

52

ECOBANK TRANSNATIONAL INCORPORATED

53

FIDELITY BANK PLC

54

GUARANTY TRUST BANK PLC.

55

SKYE BANK PLC

56

STERLING BANK PLC.

57

UNION BANK NIG.PLC.

58

UNITED BANK FOR AFRICA PLC

59

UNITY BANK PLC

60

WEMA BANK PLC.

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

124,679.56

4.31

0.23

119

5,299,876

39,141.06

1.69

4.97

264,417.03

14.41

-0.69

49

2,027,606

33,900.51

1.17

2.63

72

13,836,776

540,062.14

18.35

1.89

226

20,959,291

15,129.53

1.09

1.87

95

8,732,414

49,231.61

1.71

-

39

883,000

81,122.51

4.79

0.42

28

264,681

62

INSURANCE CARRIERS, BROKERS AND SERVICES AIICO INSURANCE PLC.

95

5,178,461

124,075.98

3.42

0.88

194

15,785,299

8,416.32

0.72

4.35

38

4,409,382

28,159.36

0.73

-8.75

31

14,405,765

986

91,782,551

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

5,752.07

0.83

2.47

17

374,441

BANKING S/N 63

AXAMANSARD INSURANCE PLC

21,000.00

2.00

3.09

18

845,255

65

CONTINENTAL REINSURANCE PLC

10,476.47

1.01

-1.94

8

266,248

73

LASACO ASSURANCE PLC.

3,661.72

0.50

-

1

100

74

LAW UNION AND ROCK INS. PLC.

1,753.04

0.51

-

1

46,071

0.82

1.23

10

77

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

4,330.01

335,711

78

NIGER INSURANCE CO. PLC.

3,869.74

0.50

-

1

460,000

79

PRESTIGE ASSURANCE CO. PLC.

2,759.15

0.50

-

1

476,784

80

REGENCY ALLIANCE INSURANCE COMPANY PLC

3,334.38

0.50

-

1

100

84

UNIC INSURANCE PLC.

1,291.15

0.50

-

1

421,667

87

WAPIC INSURANCE PLC

6,691.37

0.50

-

3

496,251

62

3,722,628

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

INSURANCE CARRIERS, BROKERS AND SERVICES S/N 89

MICRO-FINANCE BANKS NPF MICROFINANCE BANK PLC

2,629.63

1.15

-

7 7

70,200

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

MICRO-FINANCE BANKS S/N

MORTGAGE CARRIERS, BROKERS AND SERVICES

70,200

91

ASO SAVINGS AND LOANS PLC

7,370.87

0.50

-

1

500

92

INFINITY TRUST MORTGAGE BANK PLC

6,422.50

1.54

-

1

50

94

UNION HOMES SAVINGS AND LOANS PLC.

3,417.97

3.50

-

3

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

5,720.00

2.86

-0.35

49

1,875,082

22,292.27 21,584.95

3.79 1.09

4.81

8 125

100,000 25,667,204

2,572.69

0.50

-

1

450,000

141,300.00

14.13

-

10,500.00

1.75

0.57

MORTGAGE CARRIERS, BROKERS AND SERVICES S/N

OTHER FINANCIAL INSTITUTIONS

95

AFRICA PRUDENTIAL REGISTRARS PLC

96 98

CUSTODIAN AND ALLIED PLC FCMB GROUP PLC.

100

ROYAL EXCHANGE PLC.

102

STANBIC IBTC HOLDINGS PLC

103

UNITED CAPITAL PLC

TOOLS AND MACHINERY

CHEMICALS

5

OTHER FINANCIAL INSTITUTIONS FINANCIAL SERVICES

13

100 650

62,546

81

5,828,135

277

33,982,967

1,337

129,558,996

TRADES

VOLUME

METALS MINING SERVICES PAPER/FOREST PRODUCTS

S/N

ENERGY EQUIPMENT AND SERVICES

147

JAPAUL OIL & MARITIME SERVICES PLC

S/N

-1.03

S/N

PACKAGING/CONTAINERS

148

INTEGRATED OIL AND GAS SERVICES

S/N

HEALTHCARE PROVIDERS

105

UNION DIAGNOSTIC & CLINICAL SERVICES PLC

MARKET CAP(Nm)

PRICE

%CHANGE

1,776.57

0.50

-

S/N

MEDICAL SUPPLIES

MARKET CAP(Nm)

PRICE

%CHANGE

MEDICAL SUPPLIES S/N

PHARMACEUTICALS

108

FIDSON HEALTHCARE PLC

109

GLAXO SMITHKLINE CONSUMER NIG. PLC.

110

MAY & BAKER NIGERIA PLC.

111

NEIMETH INTERNATIONAL PHARMACEUTICALS PLC

MARKET CAP(Nm)

3

17,000

3

17,000

TRADES

VOLUME

0

0 VOLUME

PRICE

%CHANGE

TRADES

3,210.00

2.14

4.90

17

24,348.05

20.36

-

19

206,412

911.40

0.93

4.49

25

1,000,760

1,381.21

0.88

4.76

16

1,501,910

826,900

PHARMACEUTICALS

77

3,535,982

HEALTHCARE

80

3,552,982

PRICE

%CHANGE

MARKET CAP(Nm)

PRICE

%CHANGE

521,648

8

521,648

TRADES

VOLUME

0 TRADES

0 VOLUME

0

0

161

2,820,341 VOLUME

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES 0

0

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

MARKET CAP(Nm) MARKET CAP(Nm)

PRICE PRICE

%CHANGE %CHANGE

MARKET CAP(Nm)

PRICE

%CHANGE

0

0

TRADES

VOLUME

0

0

TRADES

VOLUME

0

0

0

0

TRADES

VOLUME

3,131.35

0.50

-

1 1

100

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

OANDO PLC

S/N

100

54,998.21

4.57

0.66

102

2,420,821

102

2,420,821

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

12,560.53

18.10

4.81

11

88,276

3,599.44

2.76

-4.83

22

449,549

273,521.03

210.00

-

39

41,252

155.09

9

12,132

INTEGRATED OIL AND GAS SERVICES

150

PETROLEUM AND PETROLEUM PRODUCTS DISTRIBUTORS CONOIL PLC

151

ETERNA PLC.

152

FORTE OIL PLC.

153

MOBIL OIL NIG PLC.

55,924.72

154

MRS OIL NIGERIA PLC.

11,386.31

44.83

-

1

155

TOTAL NIGERIA PLC.

51,067.48

150.41

-1.05

48

84,567

130

675,826 VOLUME

-

PETROLEUM AND PETROLEUM PRODUCTS DISTRIBUTORS S/N

EXPLORATION AND PRODUCTION

156

SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

191,571.15

340.00

-

3

EXPLORATION AND PRODUCTION OIL AND GAS

50

5,065

3

5,065

236

3,101,812

SERVICES S/N

ADVERTISING

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES 0

0

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

0

0

ADVERTISING S/N

APPAREL RETAILERS

APPAREL RETAILERS S/N

AUTOMOBILE/AUTO PART RETAILERS

S/N

COURIER/FREIGHT/DELIVERY

160

RED STAR EXPRESS PLC

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES 0

0

PRICE

%CHANGE

TRADES

VOLUME

2,352.09

3.99

-

2

6,000

2

6,000

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

COURIER/FREIGHT/DELIVERY S/N

HOSPITALITY

HOSPITALITY S/N

HOTELS/LODGING

164

IKEJA HOTEL PLC MEDIA/ENTERTAINMENT

167

DAAR COMMUNICATIONS PLC

VOLUME

0

0

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

5,093.05

2.45

4.70

20

391,550

20

391,550

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

6,000.00

0.50

-

0 0

0

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

HOTELS/LODGING S/N

VOLUME

MARKET CAP(Nm)

AUTOMOBILE/AUTO PART RETAILERS

MEDIA/ENTERTAINMENT

0

S/N

PRINTING/PUBLISHING

168

ACADEMY PRESS PLC.

381.02

0.63

-1.56

2

200,000

169

LEARN AFRICA PLC

655.73

0.85

-

2

6,055

171

UNIVERSITY PRESS PLC.

2,221.76

5.15

-4.98

2 6

627,009

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

PRINTING/PUBLISHING S/N

ROAD TRANSPORTATION

ROAD TRANSPORTATION S/N

SPECIALTY

MARKET CAP(Nm)

PRICE

%CHANGE

SPECIALTY MARKET CAP(Nm)

420,954

0

0

TRADES

VOLUME

0

0

S/N

TRANSPORT-RELATED SERVICES

PRICE

%CHANGE

TRADES

VOLUME

175

AIRLINE SERVICES AND LOGISTICS PLC

1,172.90

1.85

4.52

9

214,379

176

NIGERIAN AVIATION HANDLING COMPANY PLC

6,415.66

3.95

-

19

TRANSPORT-RELATED SERVICES S/N

SUPPORT AND LOGISTICS

177

C & I LEASING PLC.

178

CAVERTON OFFSHORE SUPPORT GRP PLC

315,314 VOLUME

PRICE

%CHANGE

TRADES

941.41

0.50

-

1

1

4,623.70

1.38

-8.61

6

94,746

7

94,747

SERVICES MAIN BOARD TOTALS PRICES FOR ASEM SECURITIES

100,935

28 MARKET CAP(Nm)

SUPPORT AND LOGISTICS

63

1,434,620

2,987

175,189,592

TRADES

VOLUME

Price List (Equities)

CONSTRUCTION/REAL ESTATE S/N

PROPERTY MANAGEMENT

MARKET CAP(Nm)

PRICE

%CHANGE

PROPERTY MANAGEMENT

0

0

CONSTRUCTION/REAL ESTATE

0

0

CONSUMER GOODS S/N 180

FOOD PRODUCTS MCNICHOLS PLC

MARKET CAP(Nm)

PRICE

%CHANGE

S/N

PERSONAL/HOUSEHOLD PRODUCTS

TRADES

VOLUME

409.86

1.38

-

3 3

65,000

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

FOOD PRODUCTS

65,000

PERSONAL/HOUSEHOLD PRODUCTS

0

0

CONSUMER GOODS

3

65,000

TRADES

VOLUME

FINANCIAL SERVICES S/N

MORTGAGE CARRIERS, BROKERS AND SERVICES

182

OMOLUABI SAVINGS AND LOANS PLC

MARKET CAP(Nm)

PRICE

%CHANGE

4,600.00

0.92

-

0

0

MORTGAGE CARRIERS, BROKERS AND SERVICES

0

0

FINANCIAL SERVICES

0

0

TRADES

VOLUME

HEALTHCARE S/N

PHARMACEUTICALS

183

AFRIK PHARMACEUTICALS PLC.

MARKET CAP(Nm)

PRICE

%CHANGE

12.45

0.50

-

0

0

PHARMACEUTICALS

0

0

HEALTHCARE

0

0

TRADES

VOLUME

INDUSTRIAL GOODS S/N

ELECTRONIC AND ELECTRICAL PRODUCTS

MARKET CAP(Nm)

PRICE

%CHANGE

ELECTRONIC AND ELECTRICAL PRODUCTS

0

0

INDUSTRIAL GOODS

0

0

OIL AND GAS S/N 186

PETROLEUM AND PETROLEUM PRODUCTS DISTRIBUTORS CAPITAL OIL PLC

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

2,928.77

0.50

-

1

450,000

1

450,000

PETROLEUM AND PETROLEUM PRODUCTS DISTRIBUTORS OIL AND GAS

1

450,000

TRADES

VOLUME

SERVICES S/N

FOOD/DRUG RETAILERS AND WHOLESALERS

MARKET CAP(Nm)

PRICE

%CHANGE

FOOD/DRUG RETAILERS AND WHOLESALERS

0

0

SERVICES

0

0

ASEM TOTALS

4

515,000

3,538

198,459,473

VOLUME

EQUITIES TOTALS

HEALTHCARE

HEALTHCARE PROVIDERS

MARKET CAP(Nm)

ENERGY EQUIPMENT AND SERVICES

%CHANGE

HOUSEHOLD DURABLES

VOLUME

8

5,098

OIL AND GAS

5.79

S/N

TRADES

-1.90

NATURAL RESOURCES

11,957,003

145.00

NESTLE NIGERIA PLC.

%CHANGE

1.55

PAPER/FOREST PRODUCTS

PRICE

CADBURY NIGERIA PLC.

2,298,693

PRICE

1,365.02

CUTIX PLC.

S/N

69,480.00

44

153 MARKET CAP(Nm)

ELECTRONIC AND ELECTRICAL PRODUCTS

S/N

92,885.60

43

1,359,230

136

S/N

MARKET CAP(Nm)

FOOD PRODUCTS--DIVERSIFIED

102,250

30

CHEMICALS

FOOD PRODUCTS

S/N

2

-4.57

NATURAL RESOURCES

DANGOTE SUGAR REFINERY PLC

N NIG. FLOUR MILLS PLC.

4.21

1.88

MINING SERVICES

BEVERAGES--NON-ALCOHOLIC

37

0.99

752.00

S/N

S/N

33

7-UP BOTTLING COMP. PLC.

784.99

PORTLAND PAINTS & PRODUCTS NIGERIA PLC

TOOLS AND MACHINERY

S/N

32

PAINTS AND COATINGS MANUFACTURES PLC

VOLUME

BEVERAGES--BREWERS/DISTILLERS S/N

417,075

1

TRADES

AUTOMOBILES/AUTO PARTS 25

29

-

INDUSTRIAL GOODS

CONSUMER GOODS

BEVERAGES--BREWERS/DISTILLERS

4.92

0.70

%CHANGE

CONSTRUCTION/REAL ESTATE S/N

7.04

227.50

METALS

REAL ESTATE INVESTMENT TRUSTS (REITS)

S/N

16,700

8,847.01

2,320,637

REAL ESTATE DEVELOPMENT S/N

39,558

6

50

INFRASTRUCTURE/HEAVY CONSTRUCTION REAL ESTATE DEVELOPMENT

10,089

14

-

VOLUME

BUILDING STRUCTURE/COMPLETION/OTHER

UACN PROPERTY DEVELOPMENT CO. LIMITED

133

11

-

2,181,585

BUILDING CONSTRUCTION

20

132

-

8.11 38.50

2,181,585

13,186,969

S/N

DN MEYER PLC.

%CHANGE

19.41

2,350.47

23

231

JULIUS BERGER NIG. PLC.

CEMENT CO. OF NORTH.NIG. PLC

128

PRICE

43,467.79

PACKAGING/CONTAINERS

CONSTRUCTION/REAL ESTATE

18

127

MARKET CAP(Nm)

26,950.00

23

CONGLOMERATES

INFRASTRUCTURE/HEAVY CONSTRUCTION

CAP PLC

TRADES

356,186

S/N

BERGER PAINTS PLC

126

5.00

13,186,969

BUILDING STRUCTURE/COMPLETION/OTHER

ASHAKA CEM PLC

125

%CHANGE

55

BUILDING CONSTRUCTION

VOLUME

BUILDING MATERIALS

124

0.84

231

S/N

TRADES

S/N

PRICE

DIVERSIFIED INDUSTRIES

S/N

0 323,900

1,680.00

PRICE

VOLUME

6

MARKET CAP(Nm)

MARKET CAP(Nm)

TRADES 0

S/N

CONGLOMERATES S/N

%CHANGE

ELECTRONIC AND ELECTRICAL PRODUCTS

5

S/N

PRICE

BUILDING MATERIALS

Price List (Equities)

AGRICULTURE S/N

MARKET CAP(Nm)

ICT INDUSTRIAL GOODS

INDUSTRIAL GOODS S/N

TELECOMMUNICATIONS SERVICES

TELECOMMUNICATIONS SERVICES

PRICES FOR ETP SECURITIES S/N

COMPANY

Price List (ETP) PRICE

%CHANGE

TRADES

1

LOTUS HALAL EQUITY ETF

509.64

8.22

-0.24

1

5

2

NEWGOLD EXCHANGE TRADED FUND (ETF)

366.60

2,444.00

0.95

1

55

3

STANBIC IBTC ETF 30

824.18

72.00

-

0

0

4

VETIVA BANKING ETF

91.41

2.50

1.21

1

5

5 6

VETIVA CONSUMER GOODS ETF VETIVA GRIFFIN 30 ETF

74.46 1,777.73

6.41 11.82

-0.16 0.08

1 5

5 130,010

7

VETIVA INDUSTRIAL ETF

80.88

18.46

-0.65

MARKET CAP(Nm)

ETP TOTALS

1

5

10

130,085

10

130,085

TRADES

VOLUME

0

0

0

0

ICT S/N

COMPUTER BASED SYSTEMS

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES 0

0

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

0

0

TRADES

VOLUME

0

0

COMPUTER BASED SYSTEMS S/N

COMPUTERS AND PERIPHERALS

COMPUTERS AND PERIPHERALS S/N

ELECTRONIC COMMUNICATIONS SERVICES

MARKET CAP(Nm)

PRICE

%CHANGE

ELECTRONIC COMMUNICATIONS SERVICES S/N

IT SERVICES

117

COMPUTER WAREHOUSE GROUP PLC

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

6,741.29

2.67

-

1

300

1

300

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

17,220.00

4.10

3.54

5

323,600

5

323,600

IT SERVICES S/N

PROCESSING SYSTEMS

121

E-TRANZACT INTERNATIONAL PLC

PROCESSING SYSTEMS

VOLUME PRICES FOR DEBT SECURITIES S/N

COMPANY

BONDS TOTALS

Price List (BONDS) MARKET CAP(Nm)

PRICE

%CHANGE

T H I S D AY THURSDAY MAY 12, 2016

GOVERNMENT OF CROSS RIVER STATE OF NIGERIA BEING EXCERPTS OF THE ADDRESS OF THE HONORABLE MINISTER OF TRANSPORT, RT. HON. ROTIMI CHIBUIKE AMAECHI, AT THE INAUGURATION OF THE PROJECT STEERING AND DELIVERY COMMITTEE OF THE BAKASSI DEEP SEAPORT HELD AT THE CONFERENCE ROOM OF THE MINISTRY ON THE 5TH MAY, 2016.

Protocol 1 It gives me great pleasure to address you on this very important occasion of the inauguration of the Project Steering and Delivery Committee (PSDC) for the development of the Bakassi Deep Seaport in Cross River State. The inauguration we are witnessing today is a further demonstration of the Federal Government’s desire to harness the vast potentials of the Maritime Sector for a sustainable national economic development.

2 It is worthy to note that the Maritime Sector of Nigeria, with over 84,000 square nautical miles, is central to the nation’s economic development as a medium of transportation. It is not in doubt that the existing Seaport of Apapa, Tin Can, Onne, Port Harcourt, Calabar and Warri has been overstretched as they can evidently not be able to cope with the current demand of the Sector.

3 The Bakassi Deep Seaport is to be developed jointly by the Cross River State Government in partnership with Private Investors under Public Private Partnership (PPP) arrangement, to accommodate the high volume of cargo generated through domestic and international maritime trade and also enable Nigeria attain the status of a maritime hub for West and Central Africa.

4 The geographical location of the Bakassi Deep Seaport provides accessibility to both Eastern and Northern regions of the country and also Countries on the corridor of the Chad Basin, which would enable cargoes to be easily transported to the hinterland by Rail or Inland Waterways.

5 It is my believe therefore, that the Bakassi Deep Seaport would serve as one of the primary catalyst for the sustainable development of the Nigerian economy by attracting direct and indirect investment that would help to diversify and strengthen the industrial base of Nigeria.

6

The committee’s Terms of Reference amongst others are as follows:

I.

Pilot the initial process for the actualization of the Deep Seaport;

II.

Liaise with the stakeholders, Federal Ministries of Transport and Finance, Cross River State Government, Nigerian Ports Authority, Infrastructure Concession Regulatory Commission and the Investors;

III.

Organize various investors’ roundtable discussion and interactive fora.

55

56

THURSDAY MAY 12, 2016 • T H I S D AY

NEWSEXTRA

Chinese Authorities: Poor Infrastructure May Hamper Buhari’s Economic Deal with Beijing Iyobosa Uwugiaren in Beijing A few months after President Muhammadu Buhari signed different Memorandum of Understanding (MoUs) with the Chinese Government on economic development and cooperation, a senior Chinese official told THISDAY in China that the deals may be hampered unless the Nigerian government moves very quickly to fix its poor infrastructure like electricity, gas, roads and the current security challenges in the country.

The Managing Director of Zhongfu International Investment Company Limited, Mr. N C. Chan, stated this while speaking with THISDAY in Zhongshan, China yesterday.

This came as the Deputy DirectorGeneral, Department of African Affairs, Ministry of Foreign Affairs of People’s Republic of China, Mr. Zhou Pingjian, also told THISDAY in Beijing that China and Nigerian government, still had a lot to do

after Buhari’s state visit to Beijing in order to reap bountifully the benefits of the visit.

The Chinese investment company boss, who coordinates business development for Chinese companies, including the ChinaGuangdong/Nigeria-Ogun Free Trade Zone, one of the three overseas economic and trade cooperation zones to be first established in Africa countries, said 37 Chinese companies have kick started business activities in Nigeria between 2010 and 2015, with over $100 million invested.

“With electricity, gas, good roads and good security situation in Nigeria, the free trade zone will definitely have a more rapid development than ever; because it is the key to the next step for free trade zone’s success,’’ Chan stated.

He said China was ready to do more, especially with the recent MoU between China and Nigeria, if the necessary economic environment was further strengthened.

Pingjian added:“Our government

encourages us to be the market oriented player both in domestic and international sector, including Nigeria. We have a lot of attention in Nigeria, it is the biggest market in Africa, with the largest population.

“The timing is good for us to achieve our win-win economic development programme in Nigeria; our Free Trade Zone plan is to have over 100 companies in Nigeria in the next few years. We currently have 40, with 37 Chinese companies. The number of local employment rate is increasing.’’

Also, the deputy director-general said Chines government had high affection for Nigeria and values its relationship with African countries in general, advising the federal government to fix the security

situation in the country.

Pingjian said the Chinese government was planning a huge business investment in Nigeria because of the strategic position of the country in Africa.

“Nigeria has a huge market, you have the potentials. From President Buhari’s state visit, there is huge opportunity for China to invest in Nigeria. Nigeria is high in our agenda. Nigeria is the leader of Africa, and is a trail blazer.

“China’s relationship with Nigeria is very special. We hold your country in high esteem. We have the expertise, the technologies and money to partner with Nigeria,’’Pingjian.

He said the Chinese government had shown interest in power

generation, refineries, oil and gas, agriculture and other general trade in Nigeria.

Responding to a question on trade imbalance that currently exists between both countries in favour of China, he said his country had no intention to treat Nigeria unfairly.

The Chinese senior diplomat added:”We have no plan to treat Nigeria unfairly over the perceived trade imbalance, generally speaking.

As far as we are concerned, China’s trade with Nigeria is balance.

Sometime, our economic structures tilt our positions. But we are making effort to do more in Nigeria. We are being encouraged to do more for Nigeria.’’

He however advised the Nigerian government to improve

on its security, saying it is one crucial area which investors lay their emphasis on when taking economic decisions.

“It is usual for countries to think about security issue before investing in any country; but on our part, we don’t hesitate to encourage our investors to invest in Nigeria. The press should also encourage both countries. They should help Chinese to better understand Nigeria,’’ he further stated.

On his part, Nigeria’s acting Ambassador to China, Mr. Olusola Orevba, told THISDAY that the embassy is following all the MoUs, President Buhari signed with Chinese government in order not to lose focus and momentum of the deals.

Police Recruitment: Commission Receives 897,170 Applications The Police Service Commission (PSC) has said it received 897,170 applications as at 4p.m. on May 11 from applicants seeking enlistment into the Nigeria Police Force.

This was contained in an update issued by Mr. Ikechukwu Ani, Head, Press and Public Relations of the commission, in Abuja yesterday.

According to the News Agency of Nigeria (NAN), he said 259,046 applications were received for Assistant Superintendent of Police (ASP) cadre.

Ani added that 209,067 and

429,057 applicants applied for the Inspector and Police Constable (PC) cadres, respectively.

The commission recently said in a statement that it would recruit 500 Cadet ASP, 500 Cadet Inspectors, 1,500 Specialist Officers and 7,500 Constables in the recruitment of 10,000 policemen.

President Muhammadu Buhari had approved the recruitment of 10,000 policemen into the nation’s Police Force to reinforce the police for better service.

The exercise would end on May 13.

Court Upholds Oduah’s Election as Senator for Anambra North Alex Enumah in Abuja A Federal High Court sitting in Abuja has upheld the election of Senator Stella Oduah as the valid representative of Anambra North constituency.

Justice Adeniyi Ademola in a ruling challenging the primary election that produced Oduah as the candidate of the Peoples Democratic Party (PDP) in the 2015 senatorial election, struck out the action instituted by Senator Magarene Okadigbo, on ground that it was lacking in merit.

Ademola held that Section 31 of the Electoral Act, 2010 and 251 of the 1999 Constitution are categorical and unambiguous to the effect that the primary election is an internal affair of a political party and should not be enquired into any court of law.

The judge held that he had carefully studied the case of Senator Okadigbo and found that there was no dispute in the fact that the issue in contention was the PDP primary election of December 7, 2014, conducted by Mr. Simon Izuora which produced Oduah as the candidate of the party for

the Anambra North.

Justice Ademola further held that since the law is emphatic that no court should enquire into any primary election of a political party, any attempt to go beyond that level would amount to an exercise in futility.

He therefore upheld the preliminary objection raised by PDP against Okadigbo’s case and consequently struck out the case on the grounds that his court had no jurisdiction to entertain the suit.

Okadigbo had in 2014 filed the action to challenge the Anambra North senatorial primary election, claiming that having scored the highest number of votes at the election, she should be automatically declared the candidate of the party for the 2015 general election.

Among others, Okadigbo prayed the court for an order to compel PDP to submit her name to INEC as the authentic candidate of the party for the zone.

She also prayed the court for an order, restraining INEC from accepting any other name other than her own as the candidate of the PDP.

BONUS FOR SHAREHOLDERS

L-R: Managing Director/CEO, Nigerian Breweries Plc. Nicolaas Vervelde; Chairman, Chief Kola Jamodu; and Company Secretary, Mr. Uaboi Agbebaku, at the 70th annual general meeting of the company in Lagos....yesterday Sunday Adigun

Fayose: Hold Buhari Responsible for Cameron’s Vituperations against Nigeria Flays president over petrol price increment, says action insensitive Olakiitan Victor inAdo Ekiti Following the attacks launched against Nigeria by the British Prime Minister, describing Nigerians as “fantastically corrupt,’’ Governor Ayodele Fayose of has said President Muhammadu Buhari should he held liable for the sarcastic comment.

Fayose added that Buhari utterances outside Nigeria was the reason the British Prime Minister made such uncomplimentary comment, saying; “What do you expect from the international community when the president of a nation keeps going abroad to say that his people are corrupt?”

He said it was annoying that President Buhari said he was embarrassed and shocked by Cameron’s comment, adding that instead of telling Nigerians that he was shocked, the president should apologise to Nigerians for de-marketing the country and his people.

The governor, who spoke through his Special Assistant on Public Communications , Lere Olayinka, said: “When a president

mounts the podium in foreign lands and gleefully says his own people are criminals, that they are corrupt and that those abroad should be sent back home, why won’t presidents of other countries brand all citizens of such a country as fantastically corrupt?

“Rather than this grandstanding from the presidency, efforts should be made to redeem the image of Nigeria that the president has destroyed.”

Also, Fayose blasted Buhari for jacking up petrol pump price from N86.50 to N145, describing it as insensitive and demonstration of the level of hatred the All Progressives Congress (APC) government has for Nigerians.

The governor, who said the over 70 per cent increment was another vindication of his predictions on what to expect in 2016, added that it was now clear that the scarcity of petrol being experienced in the last three months was deliberately orchestrated by the federal government to pave way for the already conceived increment.

According to Olayinka,

Fayose said: “Nigerians are now left at the mercy of political liars who took over power by deception and are governing by deceit.

He said he was waiting for the reaction of those who took to the streets to protest when fuel subsidy was removed by the Dr. Goodluck Jonathan administration in 2012, urging labour unions in the country to stand by their members always, not minding the political party in government.

He said: “When they were seeking for votes from Nigerians, they promised to reduce petrol pump price to from N87 to N45 per litre, they promised to create three million jobs per year, they said $1 will be equal to N1 and above all, they promised to pay unemployed youths N5, 000 stipend and provide one meal a day to pupils nationwide.

“Instead of fulfilling their promises, they have increased petrol pump price to N145 per litre, increased electricity tariffs, retrenched thousands of workers and imposed untold hardships

on Nigerians.

“As they did in 2012, if labour leaders do not also stand up for the people at this time, posterity will not forgive them.”

While describing the remand order reportedly granted to the Economic and Financial Crimes Commission (EFCC) to detain the former Minister of Aviation, Femi Fani-Kayode, indefinitely as a show of judicial rascality, the governor said: “It is worrisome that some magistrate courts, especially in the Federal Capital Territory (FCT) have turned themselves into allies of the EFCC in its persecution of Nigerians who are opposed to President Buhari’s anti-people policies.”

He cautioned magistrate courts in the country, especially those in the FCT against the continuous disobedience to the directive of the Chief Judge of the FCT, Justice Ishaq Bello, that they should desist from granting remand orders to the EFCC to detain suspects indefinitely, saying: “It now appears that these magistrates are operating as if they are superior to the FCT Chief Judge.”

THURSDAY MAY 12, 2016 • T H I S D AY

57

NEWSEXTRA

Badeh’s Trial: My Statement to EFCC was in Error, Says Witness Court admits ex-air force chief to bail on personal recognition

Tobi Soniyi and Alex Enumah in Abuja The second prosecution witness in the ongoing trial of former Chief of Defence Staff, Air Chief Marshall, Alex Badeh, yesterday told a Federal High Court in Abuja that his statement to the Economic and Financial Crimes Commission (EFCC) was made in error.

The witness, Emmanuel Abu, a cashier with the Nigerian Air Force (NAF) Camp, Mogadishu Cantonment, admitted this during cross-examination by Badeh’s counsel, Akin Olujimi (SAN).

The witness had in his statement to the EFCC stated that he sourced the sum of $3.1million and gave it to Group Captain Sinni after the sum of N76million was transferred

to HAVCO Nigeria Limited from the N558million set aside monthly for the office of the Chief of Air Staff (CAS).

But in his evidence before the court, the witness said the sum of $2.9million was given to Group Captain Mohammed L. Sinni, the Camp Finance Officer for the month of May, 2013.

“In the course of your evidence you gave a list of dollars you gave to the CFO every month and for the month of May 2013, you said you gave $2.9million to Sinni whereas in your statement at the EFCC, you said $3.1million was sourced by you,” Olujimi asked the witness.

Responding, the witness said: “The statement with the EFCC was in error. I confirm that it was an

Staff Deny Fayose Passage as Violent Protest Rocks FETHI Governor, rampaging staff call on FG to remove CMD Olakiitan Victor in AdoEkiti Violent protest yesterday rocked the Federal Teaching Hospital, Ido Ekiti, as the staff trooped out en masse to protest against the embattled Chief Medical Director (CMD) Dr. Majekodunmi Ayodele.

The state Governor, Mr Ayodele Fayose, felt a dose of the staff protest as he was denied access into the hospital and was held at the gate for an hour without being allowed passage.

The placard-carrying protesters repelled every entreaties made by the leadership of the unions to allow the governor enter before addressing them on the premise that he allegedly came to beg on behalf of the seemingly rejected CMD. The protesters blocked the main gate and used a hummer bus belonging to the hospital to block the way. They displayed three mock coffins at the main gate with the inscription: ‘R.I.P. Dr Majekodunmi Ayodele,’ with the photograph of the CMD affixed to each of the wooden coffin.

The presence of some traditional rulers could not help Ayodele, as the monarchs left in a disappointing circumstance, having been held in the sun for over an hour.

Fayose, who got to the gate at about 12.51p.m. could only be allowed to speak to the visibly livid workers, who chanted sarcastic songs to deride the CMD at about 1.32 p.m.

It took the interventions of the Chairmen, Association of Resident Doctors, Dr. Austin Ibikunle and Nigerian Union of Allied Health Workers, Mr. Efe Asagba, to pacify the workers, who brandished leaves before the governor was allowed to address the protesters.

Fayose, who called on the federal government through theMinistry of Health to remove the estranged CMD, said he had earlier told Ayodele that he was not being fair and just in the management of the hospital, particularly on issues bothering on workers’ welfare.

“I want to thank you for your patience, but we have to remember

that we have no other place than Ekiti State and we should ensure that hooligans don’t hijack this protest from us. What you are doing today goes to show that the people’s power is greater than the people in power.

“The death of our six doctors is still fresh in our memories, so we cannot afford to lose other lives. It is so unfortunate that the actions and inactions of Dr. Ayodele has led us to this level and deprive many Ekiti indigenes the needed medical services.

“If it is in advanced clime or advanced democracy or if I were Dr. Ayodele, I will resign. I held a meeting with the management onTuesday, May 10, where I told the CMD that he has not done well for this state and the hospital in the way he manages the affairs of this institution. Nobody can give kudos to him with the way he has run this place.

“Dr. Ayodele cannot be bigger than this institution. There was a rumour that I brought him here to resume office, this is not true.

I cannot identify with him under this circumstance. I want to tell you staff that you have a good case.

One man cannot be greater than you, but you need to be careful.

“I will write my own report before the end of today (Wednesday) and send to Abuja on the need for the federal government through the Ministry of Health to make a change in this hospital by withdrawing the appointment of Dr. Ayodele with immediate effect.

I will tell them that the CMD can no longer enjoy your confidence.

“The federal government must not treat my request as opposition voice. Let me put on record that the federal government will be held responsible if anything happens.

“But as you stage this protest, I want to plead that you allow patients who need medical care to be treated here in the interest of our wellbeing,” he said.

He called on the police and the Department of State Services (DSS) to work hand-in-hand and prevent the protest from being hijacked or escalate before controllable state.

error while writing the statement.”

Also when asked if there is any record showing that he gives money monthly to Sinni, the witness said no.

“I have no records of what I gave to Sinni monthly because the CFO (Sinni) was a custodian of everything, I was only assisting him.

“All payments made either by mandate or cash was signed by the CFO and myself but I received the dollars from the Bureau de Change (BDC) because I was the one interfacing with them.”

Also when Olujinmi put it before the witness that it would be correct to say that the only record that exists to show that the witness monthly disbursed dollar equivalents of N558million to Sinni were “only in his head”, the witness said yes.

Also when the witness was asked to corroborate the claim of the Director of Finance and Accounts, Air Commodore Abdullahi Yushau (rtd), who said the usually converted N558million was given to him first in October 2012, the witness said he did not know, adding that the first

time he gave the N558million dollar equivalent to Sinni was in November 2012.

“I wouldn’t know if someone gave Yushau the dollar equivalent of the N558million in October 2012,” he said.

The witness who said he was given a verbal instruction by Sanni in 2012 shortly after Sinni assumed the position of Camp Finance Officer (CFO) to set aside the sum of N558m monthly for training and operations, admitted that he never received any instruction from the first defendant (Badeh).

He also admitted that Badeh never asked him to give him any money either in naira or dollars.

He further stated that Badeh did not at any time instruct him to make any withdrawal or transfer to any person or company.

According to the witness, the first time he met Badeh was on May 9, 2016 just outside the courtroom, just as he told the court that he did not know if the usual practice of setting aside N558million for the office of CAS was there before November 2012.

Earlier, the witness who said

he joined the Air force in 2004 as a commissioned flying officer added that his schedule of duty was to assist the Camp Financial Officer in all financial transactions, book-keeping and interfacing with banks and BDCs. He also gave a breakdown of how monies and transfers were made between November 2012 and December 2013.

Following the conclusion of the cross-examination by the defence counsel and the absence of further questions by the prosecution for re-examination, trial judge, Justice Okon Abang, adjourned further hearing till May 18, 2016.

In another development, a Federal High Court in Abuja yesterday granted bail to a former Chief of Air Staff, Air Marshal Dikko Umar (rtd), on personal recognition after he pleaded not guilty to charges of laundering about N4.8 billion.

Umar was arraigned before Justice Binta Nyako by the federal government on a seven-count charge bordering on money laundering of N4.8 billion during his time as the head of the Nigerian

Air Force.

He pleaded not guilty and was admitted to bail on self recognition following the noobjection submission to Umar’s bail application by the prosecuting counsel, Mr. Sylvanus Tahir.

“The defendant having been granted administrative bail by the EFCC, is hereby admitted to bail on self-recognisance and shall deposit his international passport with the Chief Registrar of the court and shall not travel out of the court’s jurisdiction without permission,” Justice Nyako held.

The suit was adjourned till 7, 8 and 9 June for trial.

Umar’s counsel, Mr. Hassan Liman (SAN) had informed the court that he filed and served the defendant’s bail application on May 9 and urged the court to grant his client bail on liberal terms owing to the fact that he (Umar) had been granted administrative bail by the EFCC. Liman said the application was supported by a 23- paragraph affidavit and three exhibits and accompanied with a written address.

SIGNED AND SEALED

L-R: Regional CEO, Anglophone Africa, United Bank for Africa (UBA), Emeke Iweriebor; GMD/CEO, UBA Plc, Phillips Oduoza; Chairman and President US EXIM Bank, Fred Hochberg; Group Managing Director Designate, UBA, Kennedy Uzoka; and Group Head, Global Financial Institutions and Development Organisations, Sola Yomi-Ajayi, during the signing of a $100 million trade finance deal between both institutions at the sidelines of World Economic Forum (WEF) in Kigali, Rwanda...yesterday

Dickson Summons Emergency Meeting over Killing of Security Operatives in Bayelsa Emmanuel Addeh inYenagoa On the heels of rising tension over the killing of several security operatives in the state in the last one month, the Bayelsa State Governor, Mr. Seriake Dickson, yesterday summoned community leaders in an attempt to curb the trend.

Specifically, the governor condemned ‘in very strong terms’, the unwarranted murder of four security personnel in Nembe Creek and three naval personnel in Foropa community in Nembe and Southern Ijaw Local Government Areas of the state.

While describing the recent ambush on the security men as ‘unprovoked,’ the governor opined that the attacks on the nation’s security

personnel were putting the state and the region in bad light.

As part of the steps to check the activities of the youths, the unwholesome trend and improving the security situation in the state, Dickson noted that community leaders, elders and other stakeholders would be summoned to a meeting.

The governor expressed regret over the various incidents and called on the perpetrators of the dastardly killings and their collaborators to stop with immediate effect.

“Terrorism does not favour peace, neither can democracy express itself through violence,” Dickson emphasised.

The governor’s condemnation came even as President

Muhammadu Buhari has ordered the military to go on a manhunt for the perpetrators and clamp down on all security threats in the Niger Delta region.

Dickson stated that the killings were also putting the innocent ones in the state and the Niger Delta region in danger.

The governor warned against a replay of the Odi massacre in 1999, during the administration of ex-President Olusegun Obasanjo, in which the governor said only the innocent people suffered.

To avoid another military invasion, the governor called on community leaders and other stakeholders to check the activities of youths in their

domains.

Dickson, however, said the government was already working in concert with the security agents to bring the culprits to book and forestall any future occurrences.

THISDAY recalled that the Odi massacre was an attack carried out on November 20, 1999, by the Nigerian military on the predominantly Ijaw town of Odi in Bayelsa State.

Before the massacre, 12 members of the Nigerian police were murdered by suspected militants near Odi, while the military in retaliation levelled the village, leaving only a bank, an Anglican church and the community health centre.

58

THURSDAY MAY 12, 2016 • T H I S D AY

PDP CONGRESSES

PDP Northern Elders Ask Sheriff to Handover to BoT As threat of parallel convention looms

Onyebuchi Ezigbo inAbuja

and the process being adopted for the amendment of the constitution The Peoples Democratic Party are both flawed and should be (PDP) Northern Elders Forum jettisoned.

Gana, who read the communique has said for peace to reign in the party, the present leadership of the meeting, said in order of the party led by Senator Ali to avoid a vacuum after the Modu Sheriff should postpone Sheriff-led leadership must have the May 21 national convention stepped down, the BoT should be and handover the administration of vested with the interim powers to the party to the Board of Trustees administer the affairs of the party (BoT) which will make appropriate as provided by the constitution.

“We propose that the BoT arrangement for transition of power be repositioned to effectively to new leadership.

The group’s spokesman and perform its constitutional role and former Minister of Information, to provide trustworthy leadership Prof. Jerry Gana, who addressed during the transition to the next journalists in Abuja after their national convention of the party meeting said the recent congresses on a suitable date to be agreed,”

he said.

On the issue of demand for the postponement of the convention and if the party ignores the call, Gana said: “We are generals in this political terrain and as such we do not advertise our strategies, we have very clear strategies on what we will have to do if our demands were not met. It is well laid out but I am only permitted say the aspect I have just stated.

Our response will be seen through our actions henceforth.”

While providing reasons for the group’s conclusions, Gana said a lot of things have gone wrong starting from arrangements being put together for the convention

as well as the, zoning, congresses and constitutional amendment procedure.

“It is very that in a number of states, congresses were badly conducted, totally unacceptable to the people and we believed that it will fair that in such cases, they have to be re-done so that there will be credibility. In some areas, it should be s matter of reconciliation which we shall do “We reaffirm our position that the party should suspend the proposed amendment to the party’s constitution because the procedures being followed are unconstitutional and illegal.

“Let me state that in our

constitution there are very clear laid out procedures of how proposed amendments to a constitution can be handled. It states a specified period within which the proposals have to be sent to the respective state chapters and to get their responses back before presenting it to the BoT, the national caucus and then the NEC meeting. But in the present situation, not even the BoT met not to talk of the national caucus of the party before it was suddenly tabled at the last NEC meeting “We met today in Abuja to discuss a number of very serious issues affecting our dear party and reaffirmed, resolved as follows:

that there should be an effective implementation committee to take appropriate action on all resolutions at the forum. We therefore establish a 25-member implementation committee to meet regularly and to ensure that resolutions of the forum are properly implemented.”

“We believe in the rule of law, we believe in due and we believe that democracy has to be done in such a way that due processes are effective followed there is a procedure for the amendment of he constitution of our party and if and when we want to amend our constitution that procedure should followed so that it will be legal, and binding on all members.

Benue Elects New Official as Chieftain Predicts Resurgence of Party George Okoh inMakurdi The Benue State chapter of the People Democratic Party (PDP) has elected Mr John Ngbede as its state party Chairman.

Ngbede, a former Commisioner for Works in the state, was a running mate to the party’s governorship standard bearer in the 2015 governorship election.

At the state congress held at the PDP state office in Makurdi after the party alleged that the state government had denied them access to state owned venues in the state, the party through a consensus unanimously endorsed Ngbede

as its chairman.

In an acceptance speech, Ngbede called on all PDP members to join hands with him to move the party forward.

He also pledge to collaborate with all PDP members so as to return the party to power in 2019.

Meanwhile, a former governorship aspirant of the party and frontline member of the party in the state, Dr. Tivlumum Nyieste, has described the success of the ward local and state congresses of the PDP across the country as genuine sign of reform going on in the party.

PDP Returns Oyedepo Unopposed as State Chairman Hammed Shittu in Ilorin The Peoples Democratic Party (PDP) Chairman in Kwara State, Mr. Iyiola Oyedepo, on Tuesday night returned unopposed alongside his 30-members of the state executive at the party’s state congress held in Ilorin.

Oyedepo’s victory followed the last minute withdrawal of his main opponent, Prince Sunday Fagbemi, from the race.

Fagbemi had earlier approached the Chairman of the congress

committee, Chief Niyi Oyeleye, to signify his intention to withdraw from the race when voting was about to commence at about 7.30p.m.

Oyeleye thereafter announced to the delegates of the intention of Fagbemi to withdraw which Fagbemi confirmed and embraced Oyedepo before leaving the voting hall with his followers.

Following this development, the PDP committee however called for the election of the remaining 30 positions and the incumbents were all returned unopposed.

Ex Sports Minister, Sango Emerges Chairman in Plateau Seriki Adinoyi in Jos Former Minister of Sports and Youth Development, Hon Damishi Sango, has emerged the Plateau State Chairman of the Peoples Democratic Party (PDP) following the state congress election which held on Tuesday at the Treasures Inn, Jos the state capital.

Sango polled 758 votes to defeat former member of the House of Representatives (Jos South/Jos East constituency) Hon Bitrus Kaze, who got 222 votes.

Announcing the winner,

the Chairman of Congress committee, Hon. Mustapha Habib Zanna, particularly acknowledged the maturity of the contestants in which they conducted themselves peacefully.

Zanna, who described the congress as a family meeting to review the party’s performances in the last general election, lamented that for the first time in 16 years PDP has become an opposition party.

He however said he was encouraged that when he went round, he observed that the party was still very much on ground.

PEACEFUL CONGRESS

L-R: Ebonyi State Peoples Democratic Party (PDP) Congress Coodinator, Mr. Emma Okah; Governor David Umahi; former state Governor, Senator Sam Egwu; Speaker, state House of Assembly, Francis Nwifuru and former state PDP Chairman, Chief Okeagu Ogada; at the state party congress at the Abakaliki Township Stadium....Tuesday

Congress in Enugu, Indicative of Return of Genuine Peace, Say Ekweremadu, Ugwuanyi

Dickson Asks PDP to Close Ranks as Mose Emerges State Chairman

Christopher Isiguzo in Enugu

Bayelsa State Governor, Henry Seriake Dickson, has called on members of the Peoples Democratic Party (PDP) nationwide to work assiduously towards getting back power at the national level in 2019 general elections.

The governor threw the challenge during the state congress of the party in Yenagoa, where he urged the state chapter of the party to sustain the existing unity of purpose that enabled the PDP to win the last governorship election in the state.

While congratulating the electoral panel for the successful conduct of the congresses from the ward to the state level, as well as the new state executive members of the party on their election, Dickson said in the last four years, his government had worked hard to reposition the state and its political culture.

He said the task ahead

Basking in the euphoria of a peaceful and orderly congress of the Peoples Democratic Party (PDP) in Enugu State on Tuesday, Deputy Senate President, Ike Ekweremadu and Governor Ifeanyi Ugwuanyi said yesterday that genuine peace and harmony had finally returned to the state as major stakeholders now speak with one voice unlike in the past.

The two leaders who spoke in Enugu, said the implication of the return of peace and harmony among stakeholders is that the people of the state would not “bountifully” reap the dividends if democracy.

However, while PDP is celebrating the return of peace, a major crisis has engulfed theAll Progressives Congress (APC), Enugu state chapter following alleged suspension of one its founding leaders and Chairman of the party in Enugu East Senatorial Zone, Anike Nwoga for alleged anti-party activities.

While the State Publicity

Secretary, Kate Ofor dimissed the suspension as a ruse having nit followed the due process, the party’s Zonal Secretary for Enugu east, Chuks Akwaeke went ahead to announce Barrister Val Ikps as Nwoga’s replacement pending the report of a-three-man committee investigating allegations against the zonal chairman.

Addressing delegates at the PDP State Congress at the Michael Okpara Square where new executives led by Hon. Augustine Nnamani were elected, Governor Ugwuanyi tasked the new leaders to take advantage of the new wave of peace to strengthen and reposition the party for the task ahead.

On his part, Ekweremadu said the new executive was lucky because it was coming at a time when there is unity among major stakeholders of the party in the state, unlike his predecessors whose time were characterized by divisions between the governors then and the Abuja-based politicians or other party leaders.

of the party leadership was enormous and therefore, urged them to collaborate with other stakeholders in the South-south group-political zone and across the country towards winning the general elections in 2019.

In his remarks, the Chairman of the Election Committee from the national secretariat of the party, Abuja, Hon. Edwin Anayo described the congresses in Bayelsa as the most peaceful and transparent in the country.

The new state PDP officials elected are, Mr. Cleopas Mose (Chairman), Ebi Sunny-Goli (Deputy Chairman), Keku Godspower (Secretary), Gbalipre Turner (Treasurer) and Ebi Fafi (Financial Secretary).

Others are Osom Makbere (Publicity Secretary), Luke Demeoru (Organising Secretary), Amalala Atua (Youth Leader), Perekeme Richard (Legal Adviser), Numuomikari Walte (State Auditor) and Eunice Akene (Women Leader).

THURSDAY MAY 12, 2016 • T H I S D AY

59

NEWSEXTRA

Google, Stakeholders Want FG to Relax Internet Regulation to Woo Investors James Emejo in Abuja Internet companies will continue to boycott investments in the country until the government has reviewed inherent regulatory flaws on the use of the Internet, a report sponsored by search engine giant, Google has stated.

There are concerns that in spite of progress in Internet penetration and related activities, little has been seen in terms of associated economic development and job creation for Nigerians.

This stunted growth has been blamed partly on regulatory lapses in policing the Internet in the country.

The report, which sought to analyse the “Impact of Internet Regulation on Investment” noted that the digital economy’s growth is confronted by potential new regulations and policies and provided new challenges to lawmakers.

Founder of the Fifth Era, Matthew C. Le Merle, who authored the report, said:”While new regulations can potentially boost growth, they also raise the real risk of negatively impacting the investment environment and the success of Internet companies and the growth they represent.”

It argued that excessive control of the Internet through government regulations had the potential to scare Internet companies which would like to invest in the country and boost economic activities.

The study which was launched in collaboration with the Nigerian Economic Summit Group (NESG), further held that while Internet regulations can both boost or undermine viability, Internet companies are “very sensitive to regulations that may impact their economic viability” and “Investors are always concerned about regulatory ambiguity and economic uncertainty. Investors say

their investment decisions made in favour of attractive Internet clusters.”

It charged the Nigerian leaders to seize the opportunity to increase global competitiveness as upcoming regulatory agenda would include many Internet regulations and choices.

“Lawmakers can decide to make their country more or less attractive relative to other countries,” it added.

The report highlighted some basic fears expressed existing and

their own equipment on the ISP networks.

The study further highlighted concerns over copyright and intellectual property; Intermediary liability protection and censorship; privacy and security as well as mobile infrastructure and services.

Stakeholders who attended the launch of the report currently policies of the Nigerian Communications Commission (NCC) are hindering content develop in ICT as youths can’t

commercialise useful applications they have developed.

They argued that the present policy environment is not friendly for Internet firms’ investment and urged government to address concerns on multiplicity of regulations.

The social media bill which is presently at the National Assembly had also been a sore point in goverment’s alleged plan to place further restrictions on internet usage in the country.

Nigerian Troops Intercept another Suicide Bomber Near Maiduguri Senator Iroegbu in Abuja The troops of 7 Division Nigerian Army Garrison in conjunction with the ever dedicated Civilian

WAEC Condoles with Oba of Benin’s Family award ceremonies in Nigeria with his royal presence.

“Even when he was unable to attend, he ensured that no fewer than two of his high chiefs were with us in full traditional splendor.

His Royal Majesty will be sorely missed. It is our prayer that God will grant his gentle soul eternal rest.”

The registrar also prayed God to grant Edaiken N’Uselu the wisdom to confidently take over the reins of government in Benin Kingdom, and expressed hope that the existing cordial relationship between WAEC and the royal palace of Benin would not only be maintained but enhanced in his time.

In his response, Edaiken welcomed the WAEC delegation to Benin Kingdom and thanked the council for its warm remarks about the late monarch.

He assured the exam body that he would make efforts in the years ahead to sustain and build on his father’s relationship with it.

The management of the West African Examinations Council (WAEC) has commiserated with the family of the Oba of the Benin, Omo N’Oba N’Edo Uku Akpolokpolor, Oba Erediauwa, chiefs, elders and people of Benin Kingdom on his demise The Oba died recently at the age of 92.

The council’s delegation led by the Registrar, Dr. Iyi Uwadiae, paid a condolence visit to Benin and was received on behalf of the royal family by the Edaiken N’Uselu, at the Edaiken Palace.

Speaking on behalf of the council, Uwadiae extolled the virtues of the Oba and recounted some of his contributions to the education of youths at all levels, as well as the close relationship he maintained with WAEC during his reign.

“For us in WAEC, the Oba’s love and passion for education was legendary. He instituted numerous prizes and made generous donations. In his youthful days in particular, he delivered

countless inspiring talks at various educational fora. He stimulated engaging discussions on issues affecting the Nigerian university system, assisted institutions in the areas of discipline, funding and provision of infrastructure.

“Such was the impact he made that diverse honours were bestowed on him, a notable one being WAEC’s own Distinguished Friend of Council Award conferred on him in March 2005 for: endorsing our mandate and sharing our vision; being a massive pillar of support by identifying with our programmes; contributing to the seed capital for the WAEC Endowment Fund at its launch in Nigeria in 1985.”

Uwadiae added that the award was for: “encouraging our efforts to inculcate excellence, integrity and hard work among students in the youth; donating two trophies each year (since 1985) for the two schools in Nigeria that produce the best male and best female candidates respectively in our international examination; gracing our student

Pa Anyaeji Passes on

Kalu Reacts to David Cameron’s Negative Comments on Nigeria

Pa. Peter

Former Governor of Abia State, Chief Orji Uzor Kalu, yesterday reacted to negative comments made by the British Prime Minister, David Cameron, describing Nigeria as a “fantastically corrupt” country.

Kalu said the comment was most unfortunate and unguarded, given the relationship between Nigeria and Britain.

He said the comment was a gross disrespect and a most uncharitable disposition to the Nigerian people who work hard to earn their living and who have made very positive impacts on the lives of British people and their economy.

The former governor therefore called on Cameron to render an immediate and unreserved apology to Nigerians and to President Muhammadu Buhari for the embarrassing comments.

Pa. Peter Anyaeji is dead. He died after a brief illness at the age of 90.

According to a statement signed by the family, the service of songs will hold on June 2 at 5p.m, at his residence in Umuekeke, Atani Ogbaru Local Government Area, Anambra State. The statement also noted that there would be lying in state at his residence on June 3, from 9a.m to 10a.m, while the funeral service would be followed by interment also at his residence by 11a.m. The statement further added: “On June 4, there will be visitations

by Atani Chiefs, Umuneze-Atani, in-laws and other groups. While on June 5, there will be outing service at the Cathedral Church of St. James Atani, Ogbaru Local Government Area by 9a.m.”

prospective internet companies to include policies which could require Internet businesses to remove content upon receiving requests without court orders while government agencies might as well be able to confiscate properties without court orders.

Investors in Internet companies also fear that user data might be disclosed to law enforcement without following international baseline standards while security services might be permitted to install

In a statement signed personally by the business mogul, he said: “My attention and that of the Nigerian public have been drawn to the recent statements made by the British Prime Minister, Cameron in which described Nigeria as a “fantastically corrupt” country during his briefing to Her Majesty, Queen Elizabeth, just before the anti-corruption summit which was attended by President Muhammadu Buhari in London.

“The statements of the British Prime Minister are most unfortunate and unguarded, given the relationship between the Nigeria and Britain, two countries who share very long and deep heritage; and especially as the British PM did not state the basis on which he made such assertion which has now become public.

JTF maintaining security and vigilance averted yet another attempt by the Boko Haram terrorists to unleash suicide bomber into the community of Sulaimanti, outskirts of Maiduguri city early yesterday.

The Director of Army Public Relations (DAPR), Col. Sani Usman, said the terrorist carrying Improvised Explosive Device (IED), attempted to attack worshippers at Sulaimanti mosque during early morning prayers.

Usman stated that the terrorists

was however, prevented from gaining access to the mosque.

Unfortunately, he said, five civilians sustained injuries during the failed attempt.

He said: “A team of Explosive Ordinance Device (EOD) have successfully detonated the remaining IEDs and combed the area.

“The injured had since been evacuated to the hospital while troops and security agents have intensified patrol within the general area.”

Usman further stated that the

General Officer Commanding (GOC), 7 Division, Brig-Gen. Victor Ezugwu, has also visited the community shortly after the incident.

According to him, Ezugwu commiserated with the affected community and reminded them of their civic responsibility to arrest or report suspected persons who usually reconnoitre their domain before carrying out suicide attacks and reassure them of the military and security agencies’ commitment to their safety and security.

THURSDAY MAY 12, 2016 • T H I S D AY

60

CRIME&PUNISHMENT

Adegboruwa: Firm Links EFCC Arrest to Tompolo, Jonathan’s Cousin Chiemelie Ezeobi The law firm of the fiery lawyer and human rights activist, EbunOlu Adegboruwa, has described his arrest by the Economic and Financial Crimes Commission (EFCC) as persecution.

The firm linked the arrest to his brief from Chief Government Ekpemupolo (Tompolo) and Mr. Azibaola Robert, cousin of the former President, Dr. Goodluck Jonathan.

In a statement signed and released by Adegboruwa and company, Kogun Chambers, the firm said Adegboruwa has no fraud case to answer, rather was also being ‘persecuted’ for his hard stance against the President Muhammadu Buhari’s administration.

According to the firm, “the truth is that the five-bedroom duplex in Nicon Town Estate, Lekki, which the EFCC said was a forfeited property, was owned by one Mr. Jonathan Udeagbala.

The statement read: “The above transaction took place ever before the Buhari administration.

Ebun-Olu Adegboruwa has been receiving unofficial complaints from the EFCC about his opposition to

the Buhari administration and has never been daunted with the threat.

“But the threats became more rampant upon his brief in the case of Tompolo and especially Mr. Azibaola Robert, cousin of former President Jonathan.

“On May 4, 2016, our firm appeared in Tompolo’s case at the Federal High Court, Lagos and May 4, 2016, our firm filed a suit in court, for the release of Jonathan’s cousin.

“On May 5, 2016, EFCC filed a case against Adegboruwa. So, there is no fraud case against Adegboruwa. He is being persecuted for speaking against the Buhari regime.

“There is no way a criminal case can be maintained against Adegboruwa as the criminal case upon which the case is based has been dismissed.

“Adegboruwa did not collect money for any property but acted as a mediator for settlement and he acted upon the lawful instructions of his client.”

Explaining the facts of the transaction they said: “In or around May 2013, our law firm was approached by one Mrs. Sylvia Udeagbala, to represent her husband in a criminal case.

In our first appearance in court,

it transpired that the complainant in the case, Chief Leonard Okafor and the defendant, Mr. Jonathan Udeagbala, were from the same town.

“It was thus decided to settle the case amicably out of court, and the court and the prosecutor were so informed. He had a business agreement with Okafor, for telecommunications.

“The business didn’t go as planned, so Okafor demanded a refund of his investments, which caused Mr. Udeagbala to issue several cheques, which were alleged to have bounced, hence a criminal charge was filed against him in court, in Charge No. LCD/129/2012.

“Upon the intervention of our law firm, several peace meetings were held with the complainant in the case, Okafor, and it was

agreed that Udeagbala’s house in Nicon Town should be sold or leased to offset the money outstanding in favour of Okafor.

“Mrs. Udeagbala then secured a tenant, Shelf Drilling Co Ltd, for a five-year lease of about N11million per annum.

“This was disclosed to Okafor and it was agreed by the parties that the proceed of the lease be used to offset part of the money being claimed by Okafor, as follows: Okafor – N35million; Mr. Udeagbala – N12million; Renovation of the house by the contractor chosen by the tenant – N8million; Fee paid to the agent – N2.5million and Legal fee paid to our office – N2.5million.

“The above sums were by agreement of all the parties duly disbursed, with documentary

evidence of collection. When EFCC got to know that the said property had been let out to Shelf Drilling for five years at the rate of N10million per annum, they told Shelf Drilling that the earlier money paid had been forfeited.

“EFCC then asked Shelf Drilling to pay N12million per annum. A sum of N24million has so far been collected by the EFCC. In fact, we are informed that as at yesterday, May 10, 2016, the EFCC served the tenant another invoice for rent for 2016.

“Part of the terms of settlement was that Chief Okafor will withdraw his petition and criminal complaint to the EFCC which he did through a letter of withdrawal written by his lawyers Atuegwu Egwuatu and Associates dated August 19, 2013, and which was received by the

EFCC on September 17, 2013.

“Consequent upon the withdrawal, the criminal charge was dismissed by the High Court on December 17, 2015, in a well considered ruling delivered by Justice D.O. Oluwayemi and the EFCC is aware of this.

“At all material times, our law firm was not aware of any interim order of attachment obtained by the EFCC on the property.

“With the ruling of Justice D.O. Oluwayemi which has dismissed the main criminal charge, there can be no subsisting order of attachment as something cannot be placed on nothing and be expected to stand.”

Meanwhile, the EFCC will today charge Adegboruwa at the Federal High Court, Ikoyi, for fraud and leasing out of the said forfeited property.

EFCC Arraigns Ex-PICOMSS Boss, Atawodi, Businessman for N600m Fraud Senator Iroegbu in Abuja The Economic and Financial Crimes Commission (EFCC) yesterday arraigned the former chairman, Presidential Implementation Committee on Maritime Safety (PICOMSS), the duo of Air Vice Marshal Saliu Atawodi (rtd), one Mr. Rabiu Hassan and his company, Hypertech Nigeria Limited, before Justice U.P Kekemeke of the High Court of the Federal Capital Territory (FCT), Abuja.

The duo were docked on a three- count charge bordering on conspiracy, abuse of office and misappropriation of public funds.

According to the statement from the Head, Media and Publicity, EFCC, Mr. Wilson Uwugiaren, the accused persons allegedly defrauded the government to the tune of over N600million through suspicious contracts to procure military boats.

One of the counts read: ‘‘That you, AVM Saliu Atawodi (retd.), while serving as the Chairman of the Presidential Implementation Committee on Maritime Safety and Security (PICOMSS), Rabiu Hassan and Hypertech (Nigeria) Ltd on or about November 28, 2011 in Abuja within the jurisdiction of this honourable court with intent to defraud did conspire to obtain property by false pretence to wit: the sum of N620,910,0000, property of the federal government under the pretence that the money represents payment for the supply of six piece of K-38 Armoured patrol boats to Presidential Implementation Committee on Maritime Safety and Security (PICOMSS) and which pretense you knew was false.’’

After the charges were read, the accused persons pleaded not guilty to the charges when they were read to them.

In view of their pleas, the prosecution counsel, Mohammed Bello, asked the court for a trial date.

However, counsels to the first defendant (Atowodi), Karina Tunyan (SAN), prayed the court to grant his client bail pending his trial.

Also, counsel to the second defendant, Shareef Mohammed, urged the court to grant his client bail, maintaining that the defendant, whom he described as a whistle blower, had not jumped the administrative bail granted him by the commission.

The prosecution counsel, however, had filed a counter affidavit to both bail applications, stating that “I agree that the complainant granted an administrative bail to the defendants and they did not jump bail. However, it is because they do not know what they are up against and bail is at the discretion of the court. ‘‘It is true that the second defendant is a whistleblower, but the EFCC is an investigating agency; it investigates to establish a prima facie case and a prima facie case was established against the second defendant from the proof of evidence.’’

After hearing their argument and submissions, Justice Kekemeke adjourned to May 16, 2016 for ruling on the bail applications and ordered the defendants to be remanded in Kuje Prison.

NO CAUSE FOR THE ALARM

Soldiers meeting with community members after intercepting a sucide bomber in Maiduguri ...yesterday

Youths in Kano Torch Lawmakers’ Residence, Farm House over Unfulfilled Campaign Promises Political opponents burnt my house, says Gaya Police arrest 18 suspects Ibrahim Shuaibu in Kano An early morning violence erupted at Gaya Local Government Area of Kano State when youths set on fire, the residence of a three-time senator from Kano South senatorial district, Senator Kabiru Gaya.

According to an eyewitness account, the rampaging youths started the demonstration at about 8.30a.m. yesterday, barricading major strategic locations leading to the town, which created heavy gridlock that prevented motorists and commuters from passing through the area.

Also hit, was the constituency office, residence and poultry farm of member representing Gaya/ Ajingi federal constituency, Hon. Abdullahi Mahmud Gaya, which were also set ablaze by the irate youths.

The demonstrators, according to reports, had initially planned

to stage a peaceful demonstration but were persuaded by elders in the town to shelve the idea as a result of which they took the final decision to go ahead with the demonstration which eventually turned into a violent one.

A resident of the town who spoke under anonymity said he was not surprised by the turn of events in the area, considering the manner in which political office holders neglect them with impunity.

The resident added that with the biting economic situation, politicians in the corridors of power must show concern for their people.

“Senator Gaya is one of the politicians we have and has not been living up to our expectations.

For almost ten years now, nobody can point out a single project he had executed in Gaya town. So I am not surprised at what had happened today,” he said.

A resident of another consistency

said: “The problem we are facing is the acute scarcity of drinking water.

Our children have to trek to far distances of about five kilometres to fetch water. Our unemployed youth are still battling to survive and to me, the demonstration was not surprising.”

It was also observed that local influential figures in the area have to scamper for safety for fear of attack.

However, Gaya has accused his political opponents of sponsoring the ‘hoodlums’ that burnt his house.

Speaking with THISDAY on phone from the United States, Gaya said he was still at a loss with the action of the youths, noting that he transformed his constituency by providing basic infrastructure and as such don’t deserve the harrowing treatment.

Senator Gaya said he built dispensaries, schools and boreholes among others for his constituents over the years, stressing that what happened was simply the handiwork

of his political opponents. “ Two weeks ago, I was there, I engaged most of them and I have assisted many unemployed youth to secure jobs. I have built hospitals, schools, provided boreholes among others for my people. I don’t believe my people can do this to me, I’m suspecting political opponents who want to get at me.” he stated.

Meanwhile, the Kano State Police Command has confirmed the arrest of 18 suspected rampaging youths believed to have been involved in the riot that led to the torching of the residence and farm house of Gaya and House of Representatives member, Abdullahi Mahmud Gaya.

The spokesman of the police police, Musa Magaji Majia, said the youths also attempted to burn the secretariat of Gaya Local Government.

According to him, the police also identified five ring leaders of the attack, adding that the operatives had began to trail them.

T H I S D AY THURSDAY MAY 12, 2016

61

62

T H I S D AY •THURSDAY MAY 12, 2016

THURSDAYSPORTS

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

Ahmed Musa Shoots CSKA Closer to Russian Title

Nigeria international Ahmed Musa scored in his Russian Premier League side CSKA Moscow 3-1 win at Ural yesterday to remain top of the league with 59 points from 28 games and move closer to reclaiming the title.

CSKA are now four points clear of their closest rivals and

defending champions Zenit St.Petersburg with two rounds of matches still to be played.

A win at home against Krasnoder on Monday will confirm the Russian army club champions again.

Ahmed Musa scored in the

70th minute to seal the victory and take the game beyond the hosts Ural, who paraded Nigeria forward Sylvester Igboun.

The Jos-born star has now scored 12 goals in 28 matches.

Meanwhile, Manager of English Premier League champions

Leicester City, Claudio Ranieri, is believed to be pushing for Musa to switch over to his team in the summer.

The Daily Mail in London reported yesterday that Leicester is ready to meet the asking price of CSKA on Musa while also looking in the direction

of Algerian international and Sporting Lisbon striker, Islam Slimani.

Both players are on top priority for Raniery who is going to campaign in the UEFA Champions League next term.

Apart from Musa, the Italian manager is reported to have

confirmed his interest in Pescara striker Gianluca Lapadula with talks said to be continuing with CSKA Moscow regarding Musa.

On the other hand, Lisbon’s Slimani, who is valued at £25m, has netted 27 goals this season - sparking interest from Ranieri.

ZENITH BANK WBL

Dolphins, First Bank Set for an Evening of Thrilling Final Two of the country’s finest basketball teams, defending champions Dolphins and First Bank’s Elephant Girls, are set to dwell this evening in the final of the 2016 Zenith Bank Women Basketball League final at the Indoor sports hall of the National Stadium in Lagos.

But before the final game expected to draw the best of basketball aficionados, Nigerian Customs and the IGP Queens will battle in the losers’ final for the third place prize.

To get to today’s final, Dolphins defeated Delta Force 83-68 in their Group A opening game, saw off

the challenge of IGP Queens with 74-66 win and out dunked Plateau Rocks 74-67 in their last Group A game before swallowing the Border Girls, Nigerian Customs 74-53 in the first semi-finals to move into the final.

Eight-time champions and Group B table-toppers, First Bank, humbled Benue Princess 101-46, defeated Nigerian Customs 92-42 and walloped AHIP of Kano 10638 before overrunning the IGP Queens 105-22 in their semi-final clash to remain as the highest scoring side of this edition.

With both sides maintaining unbeaten runs to this stage of

1 8 T H N E ST L E M I LO B AS K E T B A L L

Benue, FCT Rule Central Conference Government Secondary School Gboko, Benue State and Government Secondary School Karu, Abuja, yesterday emerged top in the final matches respectively in the boys and girls category of the Central Conference of the 18th Nestle Milo Basketball Championship held at the Indoor Sports hall of the University of Ilorin, Kwara State.

The curtain raiser was the girls final which featured Government Secondary School Gboko,Benue State and Queen Amina College kaduna. Benue State flag bearer took control from the first quarter and never relent until the final whistle with scores at 49 -15 in favour of girls from Benue State, Coach Andona Zakaa of Benue, said he will step up preparation for the National final in Asaba.‘’I am

happy my girls got the ticket to be at the National Final in Asaba. We are going to intensify our training’’.

The boys final match between host Kwara and FCT was thrilling and sensational. Government Secondary School Karu, Abuja was a hard nut to crack by Unilorin Secondary School Ilorin, Kwara State With 64-22 points to the disappointment of Ilorin fans who were hoping for Kwara win.

Speaking after the match, Nestle Branch Manager -South West Mr Seth Darko, reiterate that Nestle Milo Secondary School Basketball championship has played a key role in producing many national and international basketball stars, some of our champions are currently playing in basketball league in Nigeria as well in USA, Spain, Germany and China.

FIFA Suspends Benin from World Football World football governing body, FIFA, has suspended Benin Republic from world football with immediate effect following a court decision that blocked the holding of election by the country’s football association.

The decision was taken in Mexico City at the inaugural meeting of the FIFA Council, the supervisory and strategic body that sets the vision for FIFA and global football, according to a statement posted on FIFA official website.

The statement said: ``In accordance with art. 38 of the FIFA Statutes, the Benin Football Association (FBF) is suspended with immediate effect due to a recent injunction by a local judicial court which impeded the holding

of the due election. ``The FIFA Congress will vote on the confirmation of the suspensions on the Football Association of Indonesia (PSSI), the Football Association of Kuwait (KFA), and the Benin Football Association (FBF).’’

With the suspension, Benin will miss the Africa Cup of Nations Group C qualifiers.

The Council also ratified the decision of the bureau of the Council to appoint a ``normalisation committee’’to run the daily affairs of the Guinea Football Federation (FGF).

The FIFA statement said Uruguay was appointed as the host country for the FIFA U-17 Women’s World Cup 2018 (Nov. 20– Dec. 13).

the tournament, nothing short of a thrilling evening appears to be in the offing more so when both teams appear to have the same character in terms of tactics, coaching ability and discipline on and off the court.

According to First Bank’s Captain, Chioma Udeaja, “We are here to re-claim our lost title and nothing can stop us from taking it back.”

However, it remains doubtful if Dolphins are going to give up their crown without a fight.

Not with their basketball-loving Chairman, Wale Aboderin watching from the stand.

In the All-Star game played yesterday, Team ZECA defeated Team Aspire 85-84 in a thrilling appetizer to today’s grand finale.

ZECA is one of the products of the sponsors, Zenith Bank, an account meant for children 13 years and below while the Aspire account is for young people.

Nigeria Football Federation (NFF) President, Amaju Melvin Pinnick (left), and FIFA President, Gianni Infantino, in Mexico City yesterday on the eve of the 66th FIFA Congress taking place in that city tomorrow

NPFL… NPFL… NPFL…

Rivers Utd Piles Pressure on Rangers with Third Straight Victory Duro Ikhazuagbe with agency report With leaders Enugu Rangers 2-1 defeat in Akure against Sunshine Stars and Rivers United’s third straight victory sealed yesterday, the heat appears getting tougher at the summit of the ongoing Nigeria Professional Football League (NPFL) 2015/2016 season.

Now, the Flying Antelopes are barely hanging on to the top of the league by the skin of their teeth. Only better goals scored separate them from the resurgent Rivers United who defeated Wikki Tourists 1-0 in the midweek clash at the Yakubu Gowon Stadium in Port Harcourt. They are both tied on same 28 points.

Against the Akure Gunners, Rangers’ Chisom Egbuchulam canceled out Samad Kadiri’s lead before the break for scores to stand at 1-1 but Okiki Afolabi’s strike on the hour mark made sure Sunshine Stars emerged 2-1 winners.

Rivers United on the other hand grabbed the winner in the 26th minute through centre-back Gabriel

Olalekan to send the Tourists back to Bauchi empty handed.

In Ibadan, odds were stacked against Warri Wolves ahead of their match-week 16 game at the Lekan Salami Stadium having lost 0-1 at home to Rivers United in their previous game, while their hosts, 3SC, earned a draw at Rangers.

John Odumegwu was the man who ran 3SC’s defence ragged with Izu Joseph being on the end of his runs on and off the ball.

On 27 minutes, Odumegwu threaded a sublime pass through the Ibadan club’s defence to pick out former Nigeria’s Under-17 star King Osanga, who made no error in finishing past Emmanuel Fabiyi in goal.

The Ibadan club’s only real chance of the half was close to the break when Najeem Olukokun headed a corner kick over the bar.

Wolves continued with their pressing style in the restart and it paid off on the hour mark. This time, Odumegwu was the scorer.

The Wolves’ man shrugged off his marker, Izu, in a race for the ball to score

his side’s insurance goal of the game.

Olukokun pulled one back for 3SC on 75 minutes.

The 3SC striker then saw his late spot kick saved by Wolves goalkeeper Dele Ajiboye, who returned to haunt his former employers with that heroic stop.

Ismaila Gata scored twice for Niger Tornadoes to edge Heartland 2-1. Ifeanyi Onuigbo’s goals came in between Gata’s double.

Plateau United got their second point on the road thanks to the butter fingers of Ikorodu United goalkeeper Segun Fatunwase. At the Onikan Stadium in Lagos, fans of Ikorodu United watched as their side blew their lead twice in a 2-2 draw.

A Moses Bunde own goal was all FC Ifeanyiubah needed to defeat Lobi Stars in Nnewi while MFM FC and Enyimba played out a goalless draw at the Agege Stadium in Lagos. Enyimba finished the game with 10 men after Nzube Anaezemba got his marching order for a second yellow card with 17 minutes to time.

Nasarawa United were made to toil for the three points by a plucky

Abia Warriors in a 3-2 win.

Abdulrahman Bashir and Emmanuel Makama scored in a game in which their team, Nasarawa United, had to take the lead thrice before winning while a delightful lob

by Michael Olaha and a stunner

by Ndifreke Effiong could not help Abia Warriors’ cause.

However, the game in Ilorin did not take place as Giwa FC did not show up as they were scheduled to play Cup holders Akwa United. Giwa FC was directed to play its next three home games at the Kwara State Stadium by the League Management Company (LMC) following recent crowd trouble in their fixture against Rangers.

The Jos club failed to turn up for the first of the three games at Ilorin against Wikki and the LMC awarded three points and three goals to Wikki.

MATCH DAY 16 Sunshine 2-1 Rangers Ikorodu 2-2 Plateau MFM 0-0 Enyimba Rivers Utd 1-0 Wikki Nasarawa 3-2 Abia W’ IfeanyiUbah 1-0 Lobi Tornadoes 2-1 Heartland Shooting 1-2 W’Wolves

63

T H I S D AY •THURSDAY MAY 12, 2016

THURSDAYSPORTS

Curry Wins NBA’s Most Valuable Player Honour Golden State Warriors’ star becomes first unanimous winner of the award

Stephen Curry Stephen Curry scaled heights never reached by NBA greats such as Magic Johnson, Michael Jordan and LeBron James when he became the first unanimous winner of the league’s Most Valuable Player award.

A day after returning from injury to play-off action with an explosive performance for the Golden State Warriors, Curry swept all 131 first-place votes to earn the game’s highest individual honour for a second

straight season.

He joined Johnson, Jordan and Steve Nash as the only guards to win the honour in consecutive campaigns, having dazzled NBA fans during the regular season with one astonishing display of shot-making after another.

Already established as one of the league’s greatest ever threepoint shooters, Curry led the NBA in scoring with an average of 30.1 points and a record 402 three-point baskets as he led the

Warriors to an unprecedented 73-9 mark.

The 28-year-old shot a careerhigh 50.4 percent from the field and achieved a free throw percentage of 90.8 while averaging 6.7 assists and a career-high 5.4 rebounds in 79 games.

Curry became just the fourth player in NBA history to average at least 30 points, six assists, five rebounds and two steals in a season, following Rick Barry (1974-75), Jordan (three times) and Dwyane Wade (2008-09).

A pivotal figure for the Warriors as they clinched the NBA championship last season, Curry earned a total of 1,310 points in balloting for the 2015-16 MVP award.

San Antonio Spurs forward Kawhi Leonard (634) was second, followed by Cleveland Cavaliers forward LeBron James (631).

Curry’s 2015-16 season is by no means done as he bids to lead the Warriors to a successful defence of their NBA title.

Having played in only two of Golden State’s first eight playoff games after being sidelined by an ankle injury and then a sprained knee, the inspirational point guard returned to action with devastating effect on Monday.

After a successful warm-up, he came off the bench and poured in 40 points to lift the Warriors to a 132-125 overtime win against the Portland Trail Blazers and

a commanding 3-1 lead in their Western Conference semi-final.

“I don’t think anyone could

have predicted the explosion,” Golden State coach Steve Kerr said of Curry, who scored an NBA-record 17 points in

overtime. “That was crazy.

“The guy had played one basketball game in three weeks.”

EPL: Sunderland’s Victory Relegates Newcastle, Norwich Sunderland sealed their Premier League safety and relegated Norwich and local rivals Newcastle with a comprehensive 3-0 victory over Everton. Norwich’s 4-2 defeat of Watford had no value. Liverpool and Chelsea ended their midweek clash one-all.

Defender Lamine Kone struck twice from close range after Patrick van Aanholt scored with a 25-yard free-kick that was misjudged by keeper Joel Robles.

Victory capped an impressive revival by Sam Allardyce’s side, who has lost only two of their past 13 games.

Everton were dire, heaping more pressure on boss Roberto Martinez.

TheToffees have picked up only six points from their past 10 league matches and the Spaniard is likely to face an uncomfortable final game of the season in front of disgruntled crowd at Goodison Park.

In contrast, Allardyce will be able to take his side to Watford on Sunday unburdened by the relegation fears that have

Chief Operating Officer, Soul Communications Limited, Mojisola Saka (right), in a handshake with a member of the Unified Soccer Team of Special Olympics Nigeria during activities to mark the 2016 World Malaria Day by Special Olympics....recently surrounded the club since his appointment in October.

Sunderland’s survival was built on several key decisions this season, none more significant than the appointment of Allardyce after Dick Advocaat resigned following eight games without a win to start

the campaign.

Hardened to the fight from his experiences at Bolton and Blackburn and with time on his side, the 61-year-old has steadily built a disciplined and spirited side, sprinkled with matchwinners.

Thursday, May 12, 2016

TR

UT H

& RE A S O

N

Price: N250

MISSILE Yemi Osinbajo to Nigerians “No matter how we slice it, we are in economic times that are challenging. We are at a point that a lot has been said about what to do with subsidies. We are at a point where we must take many difficult decisions and very tough choices. In no way can a country make the kind of progress we expect without being able to ensure that in public life our finance system is transparent and would ensure that there is accountability” —Vice President Yemi Osinbajo on the controversial fuel subsidy payments

OLUSEGUNADENIYI THE VERDICT

olusegun.adeniyi@thisdaylive.com

Yet Another Badge of Shame

“D

ear Segun, I hope this email finds you well. I’m a reporter working for (name of the international broadcast organisation withheld) and shall be coming to Nigeria next week to do some stories relating to economic and business issues in the country. I have been speaking to (name withheld) who has recommended we connect with you to talk about the oil industry in Nigeria, and particularly corruption...I am wondering therefore if it would be possible to meet up with you to record an interview, in English, while we are in the country. Do let me know if you are interested, and then we can discuss logistical arrangements.”

I got the foregoing mail early last month and I immediately responded the way I usually do to such solicitations which I receive all the time from foreign journalists coming to Nigeria. “Dear (name withheld), many thanks for the mail but as much as I look forward to seeing you when in Nigeria, I am not going to grant any interview for a number of reasons. One, I know there is more to Nigeria than corruption so I don’t want to feed into that stereotype. Two, I am also sure you will get many of our people who would happily oblige you (many Nigerians like to talk about corruption, and that includes those who are neck deep in it!)…”

Because my number was in the mail, the reporter in question called me from her country first to apologise that she was not trying to criminalise Nigerians and then to explain that she was coming to do many stories and corruption was just one of them. We ended the conversation on a convivial note and we agreed we could meet whenever she was in the country. Of course, she didn’t bother to see me when she eventually came just as I am sure she found many willing Nigerians, including public officials, who would have happily regaled her with tales about corruption in Nigeria!

That we have the challenge of corruption is not in doubt but it is not peculiar to our country.

The real problem is that we have not evolved institutional measures to deal with it. However, what I find very irritating is the way most of our public officials romanticize the problem, especially when they are with foreigners. At almost any and every public forum, if you ask a Nigerian public official what the main problem in his country is, the instant response would almost be: corruption. And they always have stories to tell since their fingers are usually pointed at others.

So, it came as no surprise when on Monday, that British Prime Minister, Mr David Cameron was caught on camera describing Nigeria and Afghanistan as “fantastically corrupt countries”.

In the footage showing him chatting in a group, Cameron told the British Queen, Elizabeth II: “We had a very successful cabinet meeting this morning to talk about our anti-corruption summit, we’ve got the Nigerians… actually we’ve got the leaders of some fantastically corrupt countries coming to Britain…Nigeria and Afghanistan, possibly the two most corrupt countries in the world.”

Not even the interjection by the Archbishop of Canterbury, the Most Rev Justin Welby--that “this particular president is not corrupt”, can limit the impact of the damage done to our country

David Cameron by that snide remark which only reinforces the existing stereotype. But we have brought it upon ourselves by glamourising, rather than dealing with, corruption in its various manifestations. I will come back to this issue someday.

However, apparently embarrassed, Number 10 had to issue a statement which in itself speaks volume: “Both President Buhari of Nigeria and President Ghani of Afghanistan have acknowledged the scale of the corruption challenge they face in their countries. In a collection of essays on the fight against corruption to be published on the day of the Summit, President Ghani writes that Afghanistan is ‘one of the most corrupt countries on earth’ while President Buhari writes that that

corruption became a ‘way of life’ in his country under ‘supposedly accountable democratic governments’. Both leaders have been invited to the Summit because they are driving the fight against corruption in their countries. The UK stands shoulder to shoulder with them as they do so. We cannot comment on a conversation between the PM and the Queen.”

The import of that defence by Cameron is that he was only quoting what the leaders of these two countries have themselves said which then goes to the heart of my thesis on this page that as Nigeria’s number one salesman, President Buhari cannot continue to speak only about the criminally-minded people in our country without as much as a word about the honest Nigerians. That perhaps explains why when, early in February this year, the London Telegraph published a story with the headline, “Nigerians’ reputation for crime has made them unwelcome in Britain, says country’s president”, it immediately provoked outrage among many Nigerians who created the hashtag, “#NigeriansAreNotCriminals”.

In a piece I did on the issue published on 11th February titled “The ‘Prophet Elijah Complex’”, I reminded readers of my earlier warning that President Buhari cannot continue to project himself as the only honest man in Nigeria in my column, “The Wives Are Going on Recess”.

I took the idea from the Biblical story in First Kings, Chapter 19 when Prophet Elijah thought he was the only person living right until God revealed to him that there were 7,000 other

righteous people who equally refused to bow before the idols of the time.

I wrote: “I am not trying to diminish the challenge before President Buhari or the mess he met on the ground. But it is neither helping us as a nation nor advancing his own cause to continue to harp on the negatives in Nigeria without also speaking on the goodness of the vast majority of our people. The president has to find a way of balancing his rhetoric by remembering and applauding—whenever he must speak—the the vast majority of honest Nigerians, both at home and in the Diaspora, and many who had served honourably in various governments, and are making positive contributions not only to our country but to our world.”

Fortunately, President Buhari has another platform in London today to speak about our country and I hope he will not approach the issue with the usual predilection for self-righteousness.

He must remind his audience that while, as a nation, we grapple with many challenges, including that of corruption, most of our country men and women are honest people who are being shortchanged by a few but powerful individuals. The president should also not miss the opportunity to speak about the many hard working Nigerian professionals--doctors, nurses, teachers, bankers and civil servants making valuable and unimpeachable contribution to British society.

A few bad apples (whether at home or abroad) cannot represent, and must not be allowed to taint, 180 million Nigerians.

Of Leicester, Ranieri and Nigeria

J

ust in case there are still some readers out there who don’t know what the above headline means, it is about the unbelievable achievement of Leicester City Football Club which was last Saturday crowned the English Premier League Champions. For a team that was not even in the Premiership two seasons ago, barely survived relegation last year, and was put at an odd of 5,000/1 by bookmakers, to now win the biggest prize in English football, it is almost akin to a miracle.

However, there was no miracle in the incredible story of Leicester because it is about the efforts put in over a long season and having the right leadership at the right time. And with what the football club has achieved, the first time in their 132-year old history, there are several lessons that we can all learn. At a time like this, some of those lessons will also serve our nation and those in charge of our affairs.

Let us begin from the manager, Claudio Ranieri. At 64, Ranieri’s career, spanning 28 years, has seen him manage such big clubs like Napoli, Fiorentina, Parma, Juventus, Roma and Inter Milan (Italy); Valencia and Atletico Madrid (Spain); Monaco (France) and Chelsea in England. Yet, he never won any league title with those big clubs in almost three decades of his managerial career. Interestingly, Ranieri’s

last duty post was with the Greek National team where he was sacked within four months after some embarrassing results.

Therefore, when Ranieri’s name was announced 10 months ago as Leicester manager, many football pundits, including Gary Lineker, respected former English international, who once played for the club where he is still adored, criticised the choice. There were also predictions that Leicester’s performance and results under Ranieri would be so woeful as to necessitate his sack before the last Christmas. Not only did that not happen, Ranieri has today become one of the biggest names, and perhaps the most adored manager, in the game of football.

Meanwhile, Ranieri has said he doesn’t know the secret of his success at Leicester but we can look at his managerial career and hazard some guesses. One, he has obviously learnt from his own experience that you don’t continue to do the same things and expect different results, except you are a certain Mr. Arsene Wenger!

At Chelsea, where he was sacked in May 2004, Ranieri’s constant squad rotations earned him the nickname “The Tinkerman.” At Leicester, he had a predictable line-up as he used practically the same players and the same formation for most of the matches.

In the early part of the season when he felt

that Leicester’s defence was leaking too many goals, Ranieri promised the players that the next time the team kept a clean sheet he would take all of them out for pizza. The fulfillment of that promise became known as “the pizza moment” which became the turning point for Leicester. “It was my birthday, and Claudio remembered. You don’t find many managers who do that,” said a Leicester player. That is what inspirational leaders do. They encourage members of their team. They treat them specially.

They absorb the pressure.

The ruling All Progressives Congress (APC) can learn from Ranieri the value of managing expectations. At the beginning of the season, Ranieri made it clear the objective was to secure the 40 points that would ensure safety in the premiership. He was only being realistic, given the size of his club and the resources (human and material) available. Even when the team was winning matches at the initial stage of the competition, he refused to promise what he might not be able to deliver.

However, when Ranieri achieved that objective, he told the fans to continue dreaming, this time about a possible place in Europa League which a “top six” finish would ensure…

NOTE: Interested readers can continue in the online edition at www.thisdaylive.com

Printed and Published in Lagos by THISDAY Newspapers Limited. Lagos: 35 Creek Road, Apapa, Lagos. Abuja: Plot 1, Sector Centre B, Jabi Business District, Solomon Lar Way, Jabi North East, Abuja .

All Correspondence to POBox 54749, Ikoyi, Lagos. EMAIL: editor@thisdaylive.com, info@thisdaylive.com. TELEPHONE Lagos: 0802 2924721-2, 08022924485. Abuja: Tel: 08155555292, 08155555929 24/7 ADVERTISING HOT LINES: 0811 181 3086, 0811 181 3087, 0811 181 3088, 0811 181 3089, 0811 181 3090. ENQUIRIES & BOOKING: adsbooking@thisdaylive.com