Monday 15th August 2016

CBN Conducts Special Examination on Banks Eyes on NBS as Kale’s tenure ends today

Obinna Chima In order to ascertain the actual well-being of banks owing to the nation’s macroeconomic challenges and rising non-

performing loans (NPLs), the Central Bank of Nigeria (CBN) is currently carrying out examination on banks.

At the end of the exercise, the banking sector regulator

said, it would determine how best the industry should be supported.

The Director, Banking Supervision, CBN, Mrs. Tokunbo Martins, disclosed

this in response to enquiries from THISDAY. Banking sector NPLs have been predicted to jump to 12.5 per cent of the total loans of the banks this year, up from

the central bank’s target level of five per cent at the end of last year, according to Agusto & Co, Nigeria’s main rating agency.

This is even worsened by

the weakening consumer confidence and slide in the country’s Gross Domestic Product (GDP).

Continued on page 8

Beloxxi Industries Limited Closes $80m Equity Investment Deal...

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Boko Haram Accuses Airforce of Killing Abducted Chibok Girls It’s not true, Defence Headquarters Army declares journalist, two others wanted We are in touch with Shekau, says FG (See THISDAY transcript of video inside) Continued on page 8

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Boko Haram Accuses Airforce of Killing Abducted Chibok Girls It’s not true, Defence Headquarters Army declares journalist, two others wanted We are in touch with Shekau, says FG Iyobosa Uwugiaren in Abuja and Zacheaus Somorin with agency report The terrorist group in the North East of Nigeria, Boko Haram, on Sunday accused the Nigerian Airforce of killing some of the girls abducted from Chibok, Borno State in 2014.

The terror group in its latest video, released by the Abubakar Shekau faction, purportedly showing some of the missing girls, alleged that some of the girls were killed during the Airforce’s strikes on its camps in Sambisa Forest.

But the Defence Headquarters swiftly refuted Boko Haram’s claim, saying that while it was still studying the video to ascertain its veracity, it was improbable that its airstrikes could have killed innocent citizens since the defence forces took extra care to protect civilian population in the theatre of war.

“It is extremely difficult and rare to hit innocent people during airstrikes because the operation is done through precision attack on identified and registered targets and locations,” it said in a statement released by its Director of Information, Brigadier-General Abubakar Rabe.

According to Rabe: ‘’The Precision Airstrike is very effective at taking out targeted enemies because it is not a random operation. We are nevertheless studying the video clips to examine if the victims died from other causes rather from the allegation of airstrikes.’’

Also reacting to the video, which the terrorists said was released to get the federal government to negotiate with the sect for the release of some of their fighters in exchange for the abducted girls, the government said on Sunday that it was in touch with the Shekau's faction of the terror group, stating that it would do all within its powers to secure the release of the girls.

A recently released still image taken from a video posted by Boko Haram on the social media, showing a masked man talking to dozens of girls that the sect claims are school girls kidnapped from Chibok town in 2014.... reuters ''We are on top of the situation,” said the Minister of Information and Culture, Lai Mohammed, explaining that the federal government was, however, being extremely careful because the negotiations had been compounded by the split in the leadership of Boko Haram.

According to him: “We are also being guided by the need to ensure the safety of the girls. Since this is not the first time we have been contacted over the issue, we want to be doubly sure that those we are in touch with are who they claim to be.''

The video shows purported recent footage of dozens of the abducted school girls with a veiled fighter claiming, some of the girls had been killed in air strikes. One of them identified as Maina Yakubu, said she was from Chibok.

She said: "What I want to tell

my parents and the federal government is that the federal government should please release Boko Haram members in custody of security agents so we too can be released.

"Military jets have killed some of the girls."

Apparently to buttress the claim that some of the girls were dead, unidentified bodies were shown on the ground.

The veiled fighter said the video was released to send a message to the parents of the girls to beg the Nigerian government to release Boko Haram members in various detention centres in exchange for the girls.

The man claimed that about 40 of the girls were already married, while some were dead.

Boko Haram kidnapped the girls, 276 in all, from Government Girls Secondary School, Chibok in April 2014,

provoking global outrage.

While some of them escaped, about 219 of the girls are still missing. In May, 2016, one of the missing girls, Amina Nkeki, was found with her young baby by local hunters in the Sambisa forest. She was subsequently received at the Presidential Villa, Abuja

by President Muhammadu Buhari who reiterated his government’s resolve to find the girls and bring them back alive to be reunited with their families.

But the government backed communications with the Boko Haram to negotiate the release of the girls has been complicated by the split in the group as the Islamic State announced Abu Musab al-Barnawi, two weeks ago, as the group's new leader for West Africa in a two-paged interview published by its weekly magazine. Shekau, its previous leader, appears to

have rejected the new role in another video published after Barnawi's appointment.

Nigerian economy, such as inflation, GDP, and others that have really helped the economy in terms of planning and understanding the level at which the economy is performing, he has done very well.

“Today, we have series of data on the macro economy and that has helped in policy formulation and planning.

Before Kale came, we didn’t have the robustness of most of the reports we are seeing now. To a large extent, the NBS has been living up to its expectation under Kale.

That is what you enjoy when you have a round peg in a round hole. They know what to do at every point in time.

“More can still be done and he can still do more, that is why I am advising that his tenure be renewed. Lots of foreign investments banking firms now do proper analysis on the Nigerian economy because of the structured

NBS data release timetable,” he stated.

One of Kale's greatest achievements was seeing through the rebasing of Nigeria's GDP which, in 2014 saw Nigeria emerge as the largest economy in Africa, a position, which it lost to South Africa recently. Among several other achievements including the unveiling of the Enhanced General Data Dissemination System (e-GDDS), which would help Nigeria attract the much needed Foreign Direct Investments (FDIs) into the country.

The e-GDDS is the data standards initiatives by the International Monetary Fund (IMF) which aims at enhancing member countries’ data transparency and promoting development of sound statistical systems. The page particularly serves as a one-stop publication vehicle for essential macroeconomic data.

Army declares Journalist, two others The latest video appeared to be having some ripple effects as the Nigerian Army has declared wanted a journalist and two others with links to the terror group.

Ahmed Salkida, a Nigerian journalist who gained prominence following his established access to the extremist sect was declared wanted by the Nigerian Army.

According to Premium Times, the Army in a post on its Twitter page on Sunday did not immediately give reasons for the announcement.

Also declared wanted were Ahmed Bolori and Aisha Wakil.

Wakil, a lawyer, was in contact with the Nigerian government during the 2013 amnesty negotiations with the insurgents. She is believed to have met with former President Goodluck Jonathan at the time as part of the negotiations which later broke down.

Bolori is known as coordinator of the Fa’ash Foundation and the Partnership Against Violent Extremism (Pave). He lives in Maiduguri, Boko Haram’s birthplace and the epicentre of its insurgency.

He witnessed the rise of the terror group, which turned violent in 2009.

Security analysts believe the development might not be unconnected with the video that was released on Sunday, which the Army deemed as Continued on page 10

CBN CONDUCTS SPECIAL EXAMINATION ON BANKS In view of the current macro-economic challenges in the country, the CBN last week announced that it had granted a one-off forbearance to banks this year to write-off their fully provided NPLs without waiting for the mandatory one year.

The CBN had explained that it acknowledged the request by banks to amend the requirements of Section.3.21 (a) of the Prudential Guidelines, which mandates banks to retain in their records, fully provided NPLs for a period of one year before they are written off.

“The CBN has no intention of repealing the provision of the above mentioned section of the guidelines. In view of the current macro-economic challenges, however, the CBN hereby grants a one-off forbearance this year 2016 to banks, to write-off fully provided for NPLs without waiting for the mandatory

one year,” Martins stated in the circular addressed to all banks.

In a related development, in view of what it described as the abuse of access to its Standing Lending Facility (SLF) by banks and other authorised dealers, the CBN has also directed all authorised dealers to refrain from accessing the discount window on the settlement date for government securities’ auctions.

The securities referred to are CBN bills, Nigerian Treasury Bills and Federal Government of Nigeria bonds. It stressed that any violation of the directive would result in the denial of access to the SLF. Responding to THISDAY’s question on the need to conduct special examination on the banks to mitigate systemic risk in the industry, Martins stated: “I totally agree. We are currently

carrying out examinations in that regard and also conducting stress test. At the end of it, we will determine how best the industry should be supported.”

Meanwhile, as the tenure of the Chief Executive Officer of the National Bureau of Statistics (NBS), Mr. Yemi Kale, ends today, financial market analysts have commended his contribution to the transformation of the country’s data system since his appointment in 2011.

The NBS has since 2011 grown as a reliable statistics body whose data have continued to be relied on nationally and internationally for effective planning.

Speaking on the achievement of the NBS boss since his appointment, Head of Research, SCM Capital Limited, Mr. Sewa Wusu, told THISDAY: “Kale has done significantly well. In terms of statistics on the

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Bill Gates Donates $1m for Food, Farming Aids to Borno Shettima launches distribution Borno State Governor, Kashim Shettima on Sunday inaugurated the distribution of food items and farm outreach committee targeting 40,000 victims of the Boko Haram insurgency through the support of the Bill and Melinda Gates Foundation which donated one million dollars to the Borno State Government as a post conflict intervention meant to support victims who are returning to their communities.

Shettima inaugurated the support commitee to begin with the distribution of 25 kilogram bag of rice and 10 kilogram bag of beans to each of 1,100 households at Mainok village in Kaga local government area, 45 kilometres away from Maiduguri.

The governor said officials of the state government working with the Gates Foundation used the $1m to procure the food items and commenced funding of 100 hectares of farm where beans is being cultivated.

He explained that 200 farm-families would be allocated tilled and fertile

land measuring half hectare each along with improved seeds, fertilizer, chemicals and technical supervision so that they can start growing food crops. The Governor also announced the release of two trucks of maize grid to add to the food procured with the Gates' donation.

"We are grateful to God for creating people like Mr Bill Gates and his dear wife, Melinda. These leading lights of philanthropy across the world have shown love to the good people of Borno State at a time we are on the ground and looking for any hand to hold in trying to lift ourselves up.

"Now, with the emerging peace in Borno State, it is only necessary that as Post Insurgency response, focus should be combined in supporting all categories of the victims from those at Internally Displaced Persons, those in communities within Maiduguri, those in our satellite camps outside Maiduguri, those in communities across different local government areas who

are returning to their homes and those being resettled.

"It is in this regard, that we are gathered today to Flag off the distribution of a key intervention of one million dollars food and farming aide donated by the Bill and Melinda Gates Foundation. Let me say it for the record, that unlike majority of interventions which happily came to us in kind, the Bill and Melinda Gates Foundation donated cash of one million dollars to the Borno State Government. "It is the State Government that is carrying out procurement in the implementation of this particular intervention.

The intervention is targeting returning and re-settling communities by giving them food aid and also helping them to return to their familiar ways of producing food for themselves and for commercial purposes.

"The intervention from the Bill and Melinda Gates Foundation is being used for food supplies and to fund farming activities for households. As a preliminary stage, beans is being cultivated

in one hundred hectares of land. Half hectare is being allocated to a farm-family with a target of reaching 200 households. Each household may have from 2 to 10 family members.

"Already, farms have been established in Konduga and Damboa. Each household is to be allocated not only tilled and fertile land but also improved variety of seeds, fertilizer, chemicals and most importantly, technical field supervision by extension workers.

"On the food aspect, one thousand, one hundred households, not individuals, will be given a 25 kilogram bag of rice and a 10-kilogram bag for each household here in Mainok, Kaga local government area.

The intervention aims at reaching 40,000 victims of the insurgency through households on both food aid and farming activity.

"We are particularly interested in ensuring that citizens begin to produce food crops in safe locations because direct food aid in post conflict

situations is never sustainable over a long period of time" Shettima said.

Officials of the United Nations High Commission for Refugees (UNHCR) and United Nations Office for the Coordination of Humanitarian Affairs (UNOCHA) witnessed the distribution with goodwill presented by them.

The Commissioner for

Reconstruction, Rehabilitation and Resettlement in Borno State, Dr Babagana Umara Zulum explained that two trucks of food items as well as two farms in Damboa and Konduga funded through the Gates donation were ready for immediate access on Sunday while more communities were to benefit in a continuous exercise.

just spreading rumours and lies through the media saying they are getting back the girls and today it’s been over two years and they are still in our custody. Yet they still don’t know their whereabouts and because of that you need to know all these lies you are reporting about these girls aren’t true and the whole world should know.

Fourthly; about the Chibok girls, we have them over 2 years and there have been some things these girls passed through which am listing below: There are a number of them about 40 that by God’s grace are married while some have returned to God/died due to the air plane strike by the non-believers that landed in the location they resided. We would be showing you a video of your air strike which landed on the girls that killed most of them. While we still have some of the girls here with us whom are left injured some with fractured bones and some with other injuries.

And the rest which the bomb has burnt them to death. We want to show you these girls and we don’t have any bad intention against them. We just want our family members to be released and in return we release these girls too, if not you will never get to see or have these girls back. So this message we are sending to the FG and Chibok girls parents. We want the parents to urgently reach out to the FG and have them release our people if not, we would stop at nothing. Hope am understood clearly.

In this video, you will see how your planes killed your children, am sending

this message to our fellow boko haram members in jail, especially the ones in Lagos to exercise patience and continue their worship and by God’s grace we would reach a level where no one expects and we would bring our members out especially Lagos, Maiduguri and other southern states they are held hostage. We would get them out! We are now going to bring out one of these girls to repeat the message I conveyed to her parents especially the FG to let go of our people and in return we let go of their children also. This is all I have to say!

He brings out the girl MAN: WHATS YOUR NAME? GIRL: MAI’DA MAN: YOUR REAL NAME? GIRL: MA’IDA YAKUBU MAN: WHERE ARE YOU FROM ORIGINALLY? GIRL: I AM FROM CHIBOK MAN: WHERE WERE YOU PICKED UP? GIRL: IN SCHOOL MAN: WHATS THE NAME OF YOUR SCHOOL? GIRL: GSS CHIBOK MAN: HOW LONG HAVE YOU BEEN HERE WITH US? GIRL: 2 YEARS MAN: WHATS THE MESSAGE YOU WANT TO SEND TO THE FG AND YOUR PARENTS? WHAT DO YOU WANT TO SAY ABOUT RELEASING OUR PEOPLE AND IN RETURN WE RELEASE YOU GIRLS? GIRL: WHAT I WANT TO SAY IS THEY SHOULD PLEASE HELP AND TELL THE GOVERNMENT TO RELEASE THE BOKO

HARAM MEMBERS IN THEIR CUSTODY SO THAT THEY CAN LET US COME HOME AND SEE THEM (she continues pleading in her local dialect)

Gate

BOKO HARAM ACCUSES AIRFORCE OF KILLING ABDUCTED CHIBOK GIRLS a propaganda for the Boko Haram sect.

Sakilda had said on Twitter that the latest Boko Haram video was sent exclusively to him before the sect uploaded it to YouTube. Boko Haram had said in the video that it would only negotiate with the Nigerian government through journalists known to be close to it.

#BringBackOurGirls Group Reacts

Reacting to the video, the conveners of #BringBackOurGirls, Oby Ezekwesili and Aisha Yesufu, in a statement in Abuja said the group received the development with mixed feelings of grief and strengthened hope as the chilling words (in the video) continue to sink in.

The group said the spokesman of the Kibaku Area Development Association (KADA) in Abuja, Dr. Allen Manaseh, identified the veiled girl in the video as Dorcas Yakubu, whose mother Esther lives in the Abuja area, adding that the recognition of several of the girls left no room for doubt that these are the abducted Chibok girls.

Manaseh translated what Dorcas Yakubu said in kibaku in the video as follows: “Our parents please exercise patience. We are suffering here. There is no kind of suffering we haven’t seen. Our sisters are injured, some have wounds on their heads and bodies. Tell the government to give them their people so we can also come to be with you. We are all children and we don’t know

what to do. The suffering is too much, please endeavour as we also have exercised patience. There is nothing you, or we, can do about this but to get their people back to them, so we can go home. Exercise patience as we also have endured.”

It said since its members last met with the President in January, it had continued to call on the President to be responsive to the needs of the girls’ parents and the Global Community for timely updates on the rescue operation.

“In the aftermath of an earlier video, we repeatedly called for the Government to treat the information as the missing piece of “credible information” it was seeking.

Not even the return of Amina Ali, a Chibok girl, inspired the sort of response we demanded,” it stated.

The group charged the federal government that: “After listening to the call of Dorcas Yakubu, we demand an immediate, transparent, action and result-oriented response plan by the Government. We state categorically that the excuse of a split within the terrorists’ ranks or a period of validation of the authenticity of their claims will not suffice this time. We shall press these demands with a March to the Villa in the next few days.

“Nothing short of the military being in contact with the parents, confirming identities of our girls, providing psychosocial support where necessary, and most importantly, articulating an action plan will be acceptable.”

It called on the United

States, United Kingdom, Canada, France, China, Australia, Israel and agencies like the United Nations and African Union, and all who previously expressed intentions to support the rescue efforts, to reengage and adopt a strategic rescue position.

Transcript Video

of

the

This is a message from Jama’atul ahlis sunnah lidda await wal jihad whom their leader is Abu Mohammed ibn Mohammed al Shekau. Am sending this message more especially to the parents of Chibok girls and the federal republic of Nigeria. Watch and view this video; We want to send this video to the parents of these girls you are watching here, these girls which by God’s grace have been with us for 2 year.

The first message we want to send to their parents is that they should know that some of their children are still with us.

Secondly, they should release our members with immediate effect more especially the ones held hostage in Maiduguri, Lagos and Abuja and other parts of Nigeria where they are holding them. That’s my first message to the Chibok girls’ parents and the Federal Government.

Thirdly, as we all know the Chibok girls are still a lot in number and by God’s grace they have never guessed right or knew the exact location where these girls are and they will never know where they are by God’s grace. They are

MAN CONTINUES There are so many people who lie that the FG sends them to get these girls and because of that the government and the world should know that there is no mediator or anyone sent from us to negotiate with the FG for the release of these girls.

The government should know better due to our past dealings with them the type of message that can be sent or conveyed from us. Besides we deal with no one talk more of sending a mediator to negotiate. We only deal with the media and have not sent anyone before but the media is our only connection to the FG. We are saying and repeating again to release our members you are holding hostage and in return we would release the girls and if you don’t release our members we will never release these girls and if you feel you have the strength and total absolute power to get these girls forcefully then we are waiting to see that action. Especially you BUHARI and your workers, especially your soldiers that are lying to you saying they have finished and are done with us, let them try and let us see if they will get these girls alive, let them try and see what will happen or the outcome.

To avoid this waste of time in this video, just release our members and we would release your girls.

T H I S D AY MONDAY AUGUST 15, 2016

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NEWS

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

PDP Convention: Screening of Candidates Begins Today Sheriff still angry with Makarfi

Onyebuchi Ezigbo in Abuja Ahead of the national convention of the Peoples Democratic Party (PDP) fixed for Wednesday, the party will commence screening of aspirants for various offices to be contested during the exercise.

However, there were indications yesterday that the party might not go into the convention with the much expected unity as its former acting National Chairman, Senator Ali Modu Sheriff, has insisted that he would not be part of it.

In a statement issued yesterday by the Chairman of the National Convention Committee and Governor of Rivers State, Nyesom Wike, the party asked all aspirants to present themselves to the screening committee with their original certificates, original nomination forms and photocopies.

The statement signed by the Chairman, Publicity Sub-Committee, Chief Onyema Ugochukwu, said the party also summoned all aspirants to a meeting with the national convention committee today.

According to the party’s programme of activities, screening of aspirants is to take place in Port Harcourt on August 15, while the appeal committee would entertain complaints as from August 16 The statement read: “All aspirants are to present themselves to the screening committee with their original certificates, original nomination form and set of photocopies.

“There shall be a meeting of all aspirants with the national convention leadership today at Government House, Port Harcourt. by 8p.m. prompt.”

Meanwhile, the peace efforts of the party appear to have hit the rocks as the main actor in the intra-party squabble, Sheriff, said yesterday that he would not attend the convention organised by the National Caretaker Committee headed by its Chairman, Senator Ahmed Makarfi.

Speaking with journalists on phone yesterday, the Special Assistant to Sheriff on Media and Publicity, Mr. Inuwa Bwala, said Sheriff was not interested in the convention as he was busy doing other things.

He said the former Borno State governor was watching to see if Makarfi would succeed in his objective.

Sheriff’s aide however declined to say whether he would attempt to stop the convention, using the court or not.

“We don’t have to be reacting.

He is doing his convention, we are doing some other things. They are putting us on the defensive and that will not sell. We are not part of it, we don’t know about it and we will not even comment about it.

“Let’s just wait and see whether he will have his way. We are fixing the party. We are trying to bring aggrieved members on board so that we can move the party forward,” he said.

The reconciliation committee set by the Board of Trustees (BoT) of the PDP had while submitting its report last Friday said it has recommended measures that would bring Sheriff and others who are aggrieved back to the fold.

The chairman of the peace committee, Prof. Jerry Gana, also said they had asked all combatants to withdraw pending courts cases as a condition to further the cause of reconciliation.

Meanwhile, the Chairman of the Publicity Sub-Committee of the PDP Convention Planning Committee, Ugochukwu has stated that the national convention would go on as scheduled, urging all the leaders, members, stakeholders, well wishers and followers of the evolution of the party to converge on the famous ‘Garden City’ to chart a new course for the political party.

Ugochukwu charged all stakeholders of the party to turn up en masse at the Port Harcourt convention, to give a new lease of life to the party.

He debunked the misconception

Beloxxi Industries Limited Closes $80m Equity Investment Deal In an ambitious expansion bid, Beloxxi Industries Limited has closed a whopping $80million equity investment deal with a consortium of international private equity firms and German Development Bank (KFW-DEG).

According to a statement by the company’s President/CEO, Obi Ezeude, the minority equity sales deal was consummated on August 1, 2016 with all the funds fully disbursed.

Unveiling 8 Miles (London), African Capital Alliance (ACA) (Nigeria) and KFW DEG Bank, Germany as the faces behind the international consortium acquiring the minority equity for five years, Ezeude said the transaction came on stream after six months of intense due diligence and legal negotiations that was concluded on July 1, 2016.

“With this Equity Investment, we will expand our current

operations from five production lines to about 10 production lines,” he said, adding: “That will increase our capacity from 40,000 metric tonnes to 100,000 metric tonnes of Beloxxi Cream Crackers per year.”

He said the expansion, which will make the company the largest producer of Beloxxi Cream Crackers in Nigeria and sub-Sahara Africa, would increase its staff strength from 2,500 to 6,000.

“This is a landmark transaction that demonstrates the capacity for growth in the manufacturing sector in Nigeria. The investment will further increase the capacity of Beloxxi Industries and enable it explore the export market accessing the much needed foreign exchange whilst maximising the potential for growth in Nigeria,” Ezeude said.

that the convention had once again been postponed, advising members to disregard any such rumour.

In a reference to insinuation that the convention had been rescheduled, he observed that the only recognisable interim executive of the PDP by law, empowered to organise a convention “is the one led by Makarfi.”

He cited the tacit recognition of the Makarfi committee by the Independent National Electoral Commission (INEC) as the only

lawful interim apex leadership of the PDP and the recent judgment given by a high court in Port Harcourt, restraining the security services from interfering with the forthcoming convention, to buttress his argument.

According to him, the Makarfi caretaker committee had worked very hard to achieve its mandate of organising a consensually agreed convention, within 90 days from the date of the rescheduled event.

He explained that the earlier

convention hosted at the same venue on May 21 had put in place a caretaker committee “to steer the affairs of the party on an interim basis.”

He added the May 21 convention mandated the interim committee “to organise a fresh convention within 90 days, to put in place a substantive national working committee, the highest executive organ of the party, to steer its affairs on a sustainable basis.”

He enjoined members of the PDP to demonstrate loyalty and

solidarity with the party by turning out an masse at the convention.

Ugochukwu appreciated all governors elected on the platform of the party, for their continued support to ensure the sustenance and survival of the party.

He thanked Rivers State Governor, Wike, for his generosity and conscientiousness in hosting two critical conventions of the party, within the short span of three months, despite the current economic crunch.

77 AND STILL COUNTING

L-R: National Chairman, All Progressives Congress (APC), Chief John Odigie-Oyegun; receiving birthday gift from Chief Protocol Officer, APC, during the celebration his 77th birthday at the party’s headquarters in Abuja....weekend Enoch Reuben

Come to the Creeks and Arrest Our Members, NDA Challenges Military IPOB: We remain united with NDA in quest for freedom Sylvester Idowu inWarri and Emmanuel Ugwu in Umuahia

Niger Delta Avengers (NDA), the militant group claiming responsibilities for the destruction of oil facilities in the Niger Delta region, last night challenged the military to come to the creeks and arrest its members The group described those allegedly arrested and paraded by the Nigerian Navy (NNS Delta) Warri, Stanley Tonghan and Felix Miyenminiye, as “sleeper agents.”

NDA, in a statement signed by its spokesperson, Moduch Agbinibo, noted that if the military is serious about arresting its members, it should come to the creeks where they dwell.

“If the Nigeria military is serious about arresting NDAs let them come to the creeks of the Niger Delta, that is where we dwell not the city. If I (Brig.Gen Moduch Agbinibo) was the Commanding Officer NNS Delta, Commodore Joseph Dzunve and Commander of the so-called Operation Delta Safe, Rear Admiral Joseph Okojie, I would have been in the creeks instead of sitting at the comfort of my air-conditioned office,” it added.

The militant group said it was becoming clearer that the military was using sleepers agents to track

and checkmate its activities.

“But the more they try the more they run into crisis with their employed sleeper agents. Stanley Tonghan and Felix Miyenminiye, who were arrested and paraded by the Nigeria Navy Delta are few of the sleeper agents working for Nigerian military,” it added.

The group alleged that the suspects, Tonghan and Miyenminiye, were paid N5 million to offer intelligence on the activities of NDA, adding: “On failing to deliver, the suspects were arrested and tagged NDA members. What a shame?!”

It said emphatically that the arrested suspects were not members of the NDA and had not link whatsoever with the group.

“We don’t know or have any connection with them. The Navy Commanding Officer NNS Delta, Warri, Commodore Dzunve, is trying to impress his boss in Abuja by arresting sleeper agents recruited by his predecessor.

“Any criminal arrested is now an NDA member. Since we (NDA) started the struggle, none of our operatives has been arrested. All those in detention in the name of NDA, are not part of NDA, the world should know this.

“Nigeria military have not seen embarrassment. NDA will keep

embarrassing you because the only thing you are good at doing in the Niger Delta region is arrest and killing of innocent citizens of the region in the name of looking for NDA and illegal bunkering,” it concluded.

Meanwhile, contrary to the reported rift among the groups seeking self-determination, the Indigenous People of Biafra (IPOB) has come out boldly to state that “we and our brothers, the NDA, are inseparable in our quest for Biafra restoration.”

The clarification was made yesterday in a statement jointly signed by the IPOB spokespersons, Emma Nmezu and Clifford Iroanya, saying the federal authorities would never succeed in their efforts to employ divide and rule tactics, in resolving the issue of self determination for the people of Biafra.

NDA had from the outset included the release of IPOB leader, Nnamdi Kanu, among its key demands hence the Biafra restoration movement insisted that it remains deeply united with NDA in rejecting any negotiation with the Nigerian government without Kanu’s release from detention.

“There will be no negotiation if there is no freedom for the leader

of IPOB, Kanu. Nigeria will avert imminent doom only if President Muhammadu Buhari is compelled by civilized nations to obey existing court orders and release Kanu unconditionally.

IPOB said it was aware that the federal government has “failed woefully in trying the discredited divide and rule tactics of using the media to claim Kanu denied NDA in order to engineer acrimony and hatred between him and NDA. “South-south and South-east are united in this noble quest for freedom and no amount of media manipulation can alter this fact.

Only if Buhari knows who Kanu truly is or the amount of influence he commands among the people of South East and South South he won’t listen to the lies Lawal Daura of DSS and Ohanaeze Ndigbo have been feeding him,” IPOB said.

It further emphasised that “IPOB and NDA share the same ideology and philosophy concerning the liberation of Biafra from Nigeria and this will be the centrepiece of any negotiation that will take place after the unconditional release of Nnamdi Kanu. We re-emphasize our stance that there is no negotiation going on at this time and that IPOB and NDA are inseparable in their objectives and expected outcomes.”

T H I S D AY MONDAY AUGUST 15, 2016

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COMMENT

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

REDENOMINATION OF THE NAIRA

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Redenomination of the currency does not offer any unique advantages, argues Boniface Chizea

t suddenly manifested on the social media the suggestion to revisit naira redenomination. It was an idea aggressively touted towards the end of the first term of Professor Chukwuma Soludo as the Governor of the Central Bank. And this suggestion was floated by no other than that irrepressible Senator Ben Murray- Bruce of Silver Bird media fame who always signs off by announcing that he just wants to make common sense.

I was intrigued by this suggestion particularly as one who had a ringside vintage position the last time redenomination was canvassed in this country. I recall that day at one of the meeting rooms at Transcorp Hilton Hotel in Abuja when along with some eminent economists we were assembled by President Umaru Yar’dua who was represented by his then Deputy, Dr. Goodluck Jonathan to declare open a dialogue session for us to advise the federal government on the desirability of experimenting with currency redenomination as then proposed by the central bank. Dr Jonathan, after he declared the discussion open, handed over to Tony Elumelu to pilot the discussion. Other members on this panel included Dr. Biodun Adedipe, Mr.Bismarck Rewane, Professor Willy Iyiebuniwe of the Department of Finance, University of Lagos; Suleiman Barau, Deputy Governor, Central Bank; Dr. Magnus Kakpol, Madam Nennadi Usman and a few others who were sent to represent the party of the day, the Peoples Democratic Party. Therefore it is not quite correct to observe that the president stopped the exercise simply because he was not consulted. In point of fact a careful reading of the Central Bank 2007 Act makes it quite clear whose responsibility it is to introduce changes in the currency structure. The act directs that the standard weights and composition of the national currency issued by the central bank and the amount of remedy and variations must be determined by the president on the recommendation of the board of central bank. Therefore, the authority to permit any alteration to the structure of the national currency is domiciled at the Presidency.

Currency redenomination is aimed at deliberately reducing the volume of currency in circulation in the economy, often introduced to deliberately force a reduction in the volume of currency needed to undertake regular and normal transactions usually precipitated by a situation of hyperinflation or sometimes at the commencement of flag independence or as a result of joining a monetary Union. Redenomination is often contemplated after due consideration of the risks involved in carrying stacks of currency to do routine transactions and it has far reaching implications for financial, accounting and computing aspects

IT IS DIFFICULT TO UNDERSTAND HOW REDENOMINATION COULD BRIDGE THE GAP BETWEEN THE INTERBANK AND PARALLEL MARKET RATES. FOR AS LONG AS THERE ARE PRESSING FOREIGN EXCHANGE DEMANDS WHICH ARE NOT MET AT THE INTERBANK MARKET, SUCH DEMANDS WOULD FIND SATISFACTION OBVIOUSLY AT A PREMIUM AT THE PARALLEL MARKET

of transactions. And therefore it is an experiment which must be accorded due consideration before introduction because of its far reaching consequences and implications.

Some of the reasons advanced by the senator include the following: the naira has become unstable especially after it was allowed to float as the flexible exchange rate regime was introduced; it will take some time for the naira to stabilise and in fact it may never stabilise; foreign investors will continue to wait on the sidelines as they remain wary of the uncertainty occasioned by unstable and unpredictable rates of exchange. Already several financial institutions including World Remit have suspended money transfer operations to and from Nigeria. It will impact the level of inflation as coins acquire more value to be used in transactions; it will impact positively the cost of printing the currency; it will facilitate the much desired but elusive exchange rate convergence between the interbank and parallel market rates and then he weighed in with the recommendation which I fully endorse that the central bank to remain effective and for Nigeria to continue to embrace best practice must enjoy instrument autonomy.

In the first place I do not believe that the level inflation in the country at 16.5 per cent has reached a stage whereby redenomination should be contemplated as could be attested to by a careful review of the level of loss in currency value in the other countries that implemented devaluation. And also I remain of the firm view that once fiscal policy kicks in as we anticipate and productivity is gained we would begin to witness a reduction to the prevalent rate of inflation. What is pertinent in this connection is to remain conscious of the fact that the inflationary pressure being cost push would have one off limited effect: once its effect had been felt it remains ineffectual for subsequent inflationary increases. It is also difficult for me to understand how redenomination could bridge the gap between the interbank and parallel market rates. For as long as there are pressing foreign exchange demands which are not met at the interbank market such demands would find satisfaction obviously at a premium at the parallel market. This explains why it has been argued that for as long as those 43 items excluded from access to official foreign exchange remain so that the parallel market would continue to thrive with the inevitable differential. Therefore the bridging of the spread between the interbank and parallel market is farfetched as I recall that is a feat we celebrated only once in our history. And I remain of the view that we can only aim to reduce the spread not close it to impact the incentive to rent seeking as recycling is attempted.

Dr. Chizea is a management consultant

BETWEEN FAYOSE AND AISHA BUHARI

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n the last one and half years, Governor Ayodele Fayose of Ekiti State has taken governance to an un-dignifying level by always shooting before aiming. If he is not insulting former President Olusegun Obasanjo, he is the denying the fact that the Chibok girls are not missing or attacking President Muhammadu Buhari and his wife. He has rubbished every iota of respect, esteem or dignity associated with the office of governor as enshrined in the 1999 constitution.

The most bizarre of these attacks is on the person of President Buhari and his wife, Aisha, which has become like a daily ritual for him. At the height of the presidential campaigns in 2015, he had said that Buhari would die in office. This to many is barbaric and incredulous for a human being who is not sure of when he will die, to wish another dead. In Fayose, I see idleness which is a devil’s workshop. This is considering the tight schedule of a sitting governor in a lean economy and a state gasping for breath to pay workers’ salaries having time for this kind of nonsense.

Recently, he upped his mischief by claiming the president’s wife was the one mentioned in the Jefferson scandal of 2007.

He added that she cannot visit the United States for fear of arrest and prosecution.

I understand the case is already before a court of law in Nigeria. For a governor and the value on which the office he occupies places on his shoulder, I expected Fayose to know better. At least, he has several channels to verify the information before

Abdulrafiu Lawal argues that the Ekiti State governor is mischievous

going public with it. In case, he is into mischievous opposition politics as we have in the United States, he could hire a private investigator to get him all the details. In this way, he could punch his opponent real or imagined below the belt with incontrovertible evidence, but he placed governance and politics on the same pedestrian level that he could just talk as if he is Donald Trump’s younger brother.

Should Fayose wanted to save cost and still achieve his aim, he could have asked one of his sons to google the case as the New York Times has reported extensively on the matter as far 2007. From his conduct so far, I doubt if he is information technology (IT) savvy, not to talk of being able to check his e-mail. His accusation against Aisha Buhari epitomises ignorance at the highest level because he mixed up two different cases, Jefferson and Haliburton scandal. William Jefferson is the convicted American congressman, linked with one Aisha Buhari who lives in Virginia, believed to be involved in identity theft, while Haliburton scandal deals with Jeffrey Tesler, a lawyer from North London convicted for ferrying bribes to some Nigerian government officials as far back as 1994. His case can be compared to mixing up Amala/Ewedu soup and fried rice in one plate. The sight will look horrible.

Meanwhile, the president’s wife visited the United States for several days without any problem. Surprisingly, he seemed to have lost his voice. Or is he planning another mischief that the water she uses to shower is transported from Mecca, using the presiden-

tial jet every week?

If Fayose had made this kind of allegation in a clime like the United States or United Kingdom, he would have known by now that a cup of tea is not merely ordinary water, apologies to the Hausa people.

Fayose, is suffering from what some psychologists call ‘’complex ignorance’’. This is a situation where an individual does not know, lives in self-denial about his ignorance and is not prepared to learn in order to take an informed decision. I sympathise with the people of the ‘’fountain of knowledge’’.

Back to the US trip, if Aisha Buhari was the one sought in the Jefferson case, the Federal Bureau of Investingation (FBI) would have come after her many years ago. After all, she has no immunity and this type of case has no protection under the United States legal system because it is a criminal case.

Secondly, the way US justice system works is that one’s Social Security Number(SSN),Tax Identification Number (TIN), date of birth, surname(last name) or last place of residence could be used by security agencies to verify if one is on the wanted list of FBI or police.

Hence, if our own Aisha Buhari was the one sought in the Jefferson case, as soon as her plane took off from London, the security agencies get a manifest of passengers coming into the US. In this way, they are able to identify terrorists, wanted persons, sex offenders, drug traffickers with criminal records and any other person on no fly or watch lists. Furthermore, as soon as she

landed, her finger prints and scanning of her bio-date page of her passport by officials of Homeland Security will have given her up.

Aisha Buhari may not be perfect like anyone of us, but she is far better than the last two previous occupants of the office: namely Patience and Turai. She is refined and cosmopolitan. She needs our support and encouragement in order to succeed. The likes of Fayose may not appreciate what some of us who live abroad experience. This is because some Americans may know little or nothing about a country or its people, but at least they know all the negative things associated with the country. At the height of the ‘’there is God oh’’ story, an African American at the United States Postal Service in Boston, Massachusetts, had asked me in the midst of other customers on the queue if Patience Jonathan had ever seen the four walls of the classroom. For a moment, I felt the ground I was standing on was caving in due to the embarrassing nature of the question. I quickly put myself together and said she was an emotional person, but she gave me the sneaky American smile that they use in mocking people from outside the United States.

Our lawmakers will do Nigerians a lot of good by heeding Nuhu Ribadu’s advice given several years ago that there is the need to evaluate the mental state of people who get elected into public office. This will save us the Fayose’s kind of episode that has become a source of national embarrassment to Nigerians and Ekiti people in particular. rafla2002pl@yahoo.com

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EDITORIAL AS FLOODS WREAK MORE HAVOC… Government must do more for the endangered communities

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ess than a week after the Nigerian Meteorological Agency (NiMET) issued an alert that no fewer than 11 states were prone to flooding, the prediction has come to pass with dire consequences. In several parts of Nigeria within the past few days, residential buildings, schools and places of worship had been destroyed while villages and farmlands were swamped with floodwaters. Sadly, many more people are joining the growing population of the internally displaced.

Against the background that NiMet had listed the flood-prone states as Akwa Ibom, Bauchi, Benue, Borno, Cross River, Delta, Kaduna, Kwara, Nasarawa, Yobe and Zamfara, the tragedy being witnessed has come as no surprise, even though states like Kano, Plateau and others that were not listed are also being swamped by flood rain.

In recent weeks, there had been series IT IS NOT ENOUGH FOR of warnings, particuTHE GOVERNMENT TO larly to those living JUST ASK CITIZENS TO along the banks of LEAVE FLOOD PATHS the River Niger to WITHOUT PROVIDING ANY immediately relocate MEASURES FOR THEIR to safer places.The RELOCATION report indicated that the flood path traversing the Republics of Guinea, Mali, Niger and Nigeria would remain dangerous, warning that an estimated 105,000 Nigerians may be affected.

Not many people heeded the warning. Now floods are occurring with a vengeance, endangering many people and bringing down everything on its path.

Nigeria has many challenges, but the environment is not often listed as one of them. It is therefore time Nigeria became part of the global trend of putting issues of the environment on the front burner while the relevant authorities should be proactive in preventing disasters. And when they inevitably occur, govern-

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ments at all tiers, complemented by private sector organisations and well-endowed individuals, should come to the aid of the victims as we see in other parts of the world.

Elementary science teaches that as global temperatures rise, oceans get warmer. When water heats up, it expands, leading to a rise in sea levels as we have been witnessing in several countries in recent times. It is therefore no surprise that in several coastal cities across the world today, climate change is creating a situation where too much water comes at an unexpected time, or in unexpected places causing serious problems. It is little wonder that the densely populated, low-lying cities and towns in our country have also become environmental nightmares for most of their inhabitants on account of flooding.

However, beyond the intervention of the government at all levels is the need for Nigerians to begin to imbibe the right attitude to waste disposal because flooding in some of our major cities cannot be solely attributed to the quirks of nature. The habits of the people indeed play a crucial role in what has been happening over the years anytime it rains. Most drains are blocked due to the indiscriminate dumping of waste on the roads and drainages.

This unsanitary attitude quite naturally leads to blockages of canals and man-holes resulting in the type of floods that have been witnessed in recent weeks. There are also several buildings that have been erected on drainage channels. This ugly trend must stop while the state government must ensure that all those buildings are pulled down for free flow of water into the canals.

However, it is not enough for the government to just ask citizens to leave flood paths without providing any measures for their relocation. There is need therefore to resettle those living close to flood-prone areas. There will be resistance from some people, but they must be made to realise the consequences of whatever choice they make: between accepting to be resettled and staying back in their endangered communities.

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.

DONALD TRUMP: A PARROT OR A PATRIOT? According to his campaign slogan, he is on a mission to make America great again. This presupposes that he believes that America is on the brink of losing her greatness or has actually lost it. But then, since he began his campaign for election into the White House, Mr. Donald Trump, presidential candidate of the Republican Party in the approaching November American presidential contest, hasn’t demonstrated sufficient proof of his capacity to make America great.

Rather, if all that has been seen of this maverick American billionaire is anything to go by, with him, America is bound to sink lower than anyone can ever imagine!

Great leaders are often unapologetic patriots who think deeply before they talk.

They weigh and measure every word in their minds, profoundly considering the likely consequences of such words before speaking. Unfortunately, Mr. Trump, the man who wants to rule and make America great again, is like a parrot. He talks first and thinks later. Without a doubt, had the race to the White House to be primarily determined by the dexterity of the contestants’ garrulousness, it would have been a no contest as Mr. Trump is head and shoulder

above all in this respect. He talks without restrain from both sides of the mouth. And he is not just talking, he is actually singing like a red-eyed Vireo bird which sings more than 20,000 songs a day. This moment he says the earth is oval, the next moment he claims it is perpendicular!

More often than not, his talk makes little sense. One wonders how a man, whose speech is spiced with dubious logic could make his nation great. In the wake of the Orlando massacre, which has been described as the deadliest mass shooting in American history and the worst terrorist attack since 9/11, while the whole world rose to condemn the act, Mr Trump tweeted that he was right about radical Islamic terrorism, warning “it’s only going to get worse”. It will be recalled that Mr. Trump had earlier recommended a ban on Muslims to the United States as a way of combating the threat of terrorism!

Many commentators described his position as “hateful and awful”. How on earth would a man aspiring to lead the greatest nation on earth come up with such tactless statement at a time the nation and, indeed the whole world was mourning?

Prior to securing his party’s nomination,

Mr. Trump was hard on Nigerians who live in America. According to him, upon his inauguration, he would ensure that all of them were repatriated back home. How he wishes to do this, especially for Nigerians whose stay in the United States has legal backing, remains a mystery. Other immigrants in America, particularly Mexicans, are not spared either.

During his speech, in which he announced he was gunning for the presidency, Trump suggested that Mexicans immigrants were mostly criminals and rapists. He went on to say that if he was elected, he would build a wall on the US-Mexico border to keep out those immigrants and he would make Mexico pay for it.

Mr. Trump’s latest garrulous escapade is even more audacious. He called President Barack Obama and Democratic rival, Mrs. Hillary Clinton the “co-founders” of Islamic State, claiming that they were responsible for the rise of the militant group. In a most reckless outburst unbecoming of one bidding for the White House, Trump said: “In fact, I think we’ll give Hillary Clinton ... most valuable player. ISIS will hand her the most valuable player award. Her only competition is President Barack Obama.”

In-spite of widespread condemnation against his fresh outburst, Trump doggedly defended the remarks. While speaking to a group of reporters who wanted more clarification on his wild allegation, Mr. Trump asked: “Is there something wrong with saying that? Why are people complaining that I said he was the founder of ISIS? All I do is telling the truth, I’m a truth teller.” When asked if he meant that Obama created the vacuum ISIS capitalise on in Iraq by prematurely withdrawing American troop from Iraq, Mr. Trump emphatically responded that: “I meant he’s the founder of ISIS. I do.”

His party, through the Democratic National Committee has since lambasted him on ‘this senseless remark’ before saying he was merely being sarcastic! But then, the havoc has been done.

The truth is that, as Mrs. Clinton, Trump’s main challenger, in the White House contest once claimed, Donald Trump is someone who is “temperamentally and ethically unfit” to serve as Commander- in -Chief with “dangerously incoherent” ideas and policies.

Tayo Ogunbiyi, Ministry of Information & Strategy, Alausa, Lagos

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T H I S D AY • MONDAY, AUGUST 15, 2016

POLITICS

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

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

Buhari and the Fear of Collective Responsibility

With President Muhammadu Buhari’s fast dropping popularity rating amongst the Nigerian people following his inability to stay true to expectations, there is a growing fear amongst other stakeholders in the All Progressives Congress and it is the burden of collective responsibility they could suffer from Buhari’s probable failure, even when he clearly runs a one-man show, write Shola Oyeyipo and Segun James

Buhari...the burden of man’s action

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t the start of his 2015 presidential journey, President Muhammadu Buhari boasted some staggering goodwill, which owed largely to a legion of expectations, whether feasible or not, but nothing unconnected to the electoral promises of his party, the All Progressives Congress (APC).

Such expectations included the fact that his government would hit the ground running because of the urgency to address the alleged waste of Peoples Democratic Party’s (PDP) 16 years.

Needless to reiterate that Nigerians saw in the president, a preternatural creature, perhaps, divinely ordained to right some of the many wrongs of the past, including his own misdeeds as a military ruler between 1983 and 1985, when he toppled a democratically elected government. But as time drags on, the wait on Buhari is becoming endless, somewhat and anxiety increases across the various strata of the system.

Some enthusiasts are already beginning to wonder if the government could in fact make any meaningful impact at the long run and the reason points to no other indicator but the prevalent harsh economic weather in the country. Even within the government

There is the worry that the president is getting used to working alone while those around him only watch the result of his sometime poor decision, thereby creating an environment that does not allow for thorough debate, questions, the weighing of options and cross pollination of ideas. As he gets used to dishing out instructions and peoplejumping, his cabinet gets ineffectual and he, as much as Nigeria, are the worse for it

circle, there is swirling fear that the concept of collective responsibility could catch up with everyone, when in fact, the president is running what appears a one-man show.

But, should the entire government, which extends to the legislature and judiciary, be subjected to stringent public scrutiny and criticism if the government (essentially run by the executive) fails to meet the expectations of Nigerians? Will that be fair on the others, including party members, who have been schemed out of the running of the government?

Whereas Nigerians voted a party they hoped would urgently bring the needed changes, as at today, there is no gain saying that there has not been any significant departure from the usual. For instance, the ongoing trial of the Senate President, Dr. Bukola Saraki, who is also a member of the president’s party, in what many have attributed to politics, and which has pitted the executive and the legislature has not paid off for Nigerians in any way.

While the unhealthy tango between the two arms of government festers against the expectations of many, the president wouldn’t just name his ministers and hit the ground running, instead he opted to wait about six months before naming them and at the end of the day, he failed to bring in angels from

another planet but people who had been with him all along. Why then the waste of such precious time on nothing?

Without rubbing it in on the efforts of the men and women of the Nigerian Army, who have helped to technically decimate the Boko Haram insurgents, the growing tension being created by the emergence of the Niger Delta Avengers (NDA), constitutes fresh fears even as the relics of the Boko Haram is still a cause for concern.

This is coming at a time more Nigerians are daily finding it difficult to access three square meals due to the fast spreading poverty occasioned by government’s poor and untended policies. The economy is technical recession, according to the Minister of Finance, Kemi Adeosun even as the forex policy is forcing manufacturers out of business and in the midst of all these, indications are that the president is not consciously putting the expertise of many of those around him to work in the bid to move the country forward.

There is the worry that the president is getting used to working alone while those around him only watch the result of his sometime poor decision, thereby creating an environment that does not allow for thorough

CONT’D ON NEXT PAGE

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POLITICS/ THE MONDAY DISCOURSE BUHARI AND THE FEAR OF COLLECTIVE RESPONSIBILITY

Buhari surrounded by Vice-President Professor Yemi Osinbajo, Senate President Bukola Saraki, Speaker Yakubu Dogara and other members of staff of the president during the signing of the controversial 2016 budget

debate, questions, the weighing of options and cross pollination of ideas. As he gets used to dishing out instructions and people-jumping, his cabinet gets ineffectual and he, as much as Nigeria, are the worse for it.

The recent outrage of one of APC national leaders, Senator Bola Tinubu against the junior Minister of Petroleum, Dr. Ibe Kachikwu, which apparently led to the removal of subsidy on petroleum product is seen as an indication that some members of the party are tacitly exonerating themselves from some of the government’s policies. In fact, there is this perception that Tinubu no longer have a say in the government (that is, if he ever did in the first place), whereas he has his own ideas on to move the nation forward, where an ideal party system is in place.

This is however traceable to why the APC national leader fired his comments against Kachikwu when there was the lingering fuel scarcity in the country and Kachikwu was quoted as saying he was not a magician, who could end the scarcity of petrol, the way many wanted it.

Knowing full well the long term political implications of such statement and the blueprints the party had on the ground to address petroleum problem in the country, the APC leader told the minister that he was answerable to Nigerians, in what brought to fore, Buhari’s style.

“Kachikwu needs to know that respect and good performance will do what magic cannot”, Tinubu said, adding that a member of the government “has strayed from the progressive calling required of this administration.”

Nothing more can better exemplify the one-man-show disposition of the president than the recent disclosure by the Minister of Works, Power and Housing, Babatunde Fashola (SAN), that he was handed the three ministries in order to reduce government cost and that he has been playing a role of supervisory since he headed the position.

He made the disclosure during a federal government town hall meeting held at the Shehu Yar’Adua Centre, Abuja.

“Buhari decided to merge three ministries in order to reduce the cost of running government. Whether I can cope with three ministries or not, let us be clear on this. On the one hand, we have spoken about the cost of running government and in trying to mitigate or reduce that cost, the President, in his own wisdom, decided to merge three ministries together. So, my work really there is supervisory and directional,” Fashola said.

While the APC-led government appears to be fast losing its staggering goodwill amongst the suffering Nigerians and blaming its ineffectual styles and policies on the past

administration, some of the very critical attacks on the government have been coming from the president’s Northern kinsmen and this is unlike the norm.

For instance, a factional chairman of the APC in Kano State, Hussaini Mairiga, last week, described the Buhari administration as a failure. “From the looks of things, President Buhari has betrayed the confidence of the Nigerian masses, who voted for him massively into power,” Mairiga said, lamenting that a lot of people now go to bed without at least one square meal, while others had fled their homes because they could no longer provide the basic needs of life for their loved ones in a chat with newsmen.

Also, last week, during a town hall meeting and policy dialogue organised by the Alumni Association of the National Institute of Policy and Strategic Studies (AANI) in collaboration with the Ministry of Information and National Orientation, with the theme: ‘Towards Effective Implementation of the 2016 Budget’, the Sultan of Sokoto, Alhaji Sa’ad Abubakar III, appealed to the government to review policies and programmes that are not in the interest of the people.

“Those in authority should appreciate the fact that they hold power in trust for the people. They should listen and be prepared to make policy changes that address the welfare of the common people. Change has been said to be constant. Therefore, there is no problem if government would review policies and programmes.

“If a policy doesn’t work there is nothing wrong in reviewing them. In my view, policies that are anti-people should be discarded and realigned in line with prevalent realities, where Nigeria has critical problem is in the area of policy implementation.”

The Sultan added: “At times, changes come with difficulties, but it is important that both the government and the governed should accept with clean hearts that after the days of suffering there would be days of rejoicing.

If we get it right in the 2016 budget, every other thing will fall into place.”

The monarch applauded the different efforts of the present administration towards repositioning the Nigerian economy in the path of sustainable development, stressing that all hands must be on deck in ensuring that government delivers on its mandate.

Another notable Nigerian, also a Northerner, Second Republic president, Alhaji Shehu Usman Aliyu Shagari, broke his silence in an interview with African Independent Television (AIT), where he declared, as some others, that Buhari was a failure in office.

According to him, unlike former president, Dr. Goodluck Jonathan, who had achieved a lot in office, there was nothing Buhari can

point to that he achieved for the whole period he was head of state between 1983 and 1985.

“Now, I may ask Nigerians, what are Buhari’s developmental strides as Nigeria’s head of state for the period in question?”

Your answer is as good as mine; none for his whole time in office. Jonathan may not be the best, but I can mention three to four breakthroughs in Nigeria that occurred under his five years in office.”

Some of such, according to him, were that trains were back on track, construction of 125 modern Almajiri schools and 12 universities in a short period of time, and in the agricultural sector, where the Jonathan administration became the first Nigerian government to eradicate the high level corruption in the distribution of fertilisers and ghost workers in the civil service.

Similarly, one of Nigeria’s most outspoken clergymen, who had been a die-hard advocate of the Buhari-led government, Rev. Father Ejike Mbaka recently came down hard on President Buhari, accusing him of indifference to the country’s worsening economic situation.

Mr. Mbaka, a Catholic priest and lead minister at the Adoration Prayer Ministry, Enugu, said: “It is not easy everywhere; hunger everywhere. As the president is fighting corruption, some of us are praying that he will equally fight hunger. Hunger is in the atmosphere.”

In the opinion of the revered man of God, there is nothing wrong in reviewing policies if they do not work. He said that when policies and programmes of government are not achieving desired results, they should be reviewed and realigned in line with prevailing realities.

“Some people were saying Father Mbaka started preaching against–whatever. The issue is that Father Mbaka is preaching as the spirit prompts him. There is hunger everywhere.

My job is to tell our leaders the truth.”

Painting the real picture of the hardship on the ground, Mbaka said: “The landlords are crying, tenants are lamenting. Sellers are crying. Buyers are lamenting. There is hunger on the street. Many students are being rusticated from school, why? Because they can’t pay for school feels. Proprietors are distressed. Many companies are winding up. The economy is hard.”

He suggested that Nigeria needed economic experts, gurus and sages that are sincere, and can come in and think about our economic and revamp it and a judicial reformation. But one would want to ask again and again, are there no such people in the APC? Are there no such people in the government and why is it that their efforts are not yielding noticeable successes while the people are being pacified to be patient with government?

The Absence of Party Caucus One of the problems of the Buhari government is the absence of the place of the party in the running of the government.

The world over, regardless of the system of government embraced, the place of the party in the government is sacrosanct. Even as tough as former President Olusegun Obasanjo was, party caucuses was a common feature and practice, which helped to moderate and intervene in the administration of the country, not to talk of Umaru Musa Yar’Adua and Goodluck Jonathan, who were party’s ‘good boys’.

Indeed, it is a factor responsible for how and why the national chairmanship of the PDP is highly coveted and sought after each time there is an opening. The chairman of the party, through the different organs of the party asserts his place in the government and helps to take the heat off the government on many occasions.

But in Buhari’s government, there is no such thing. He is the Alpha and Omega and even where a pseudo caucus meeting was convened, it was just to fulfill all righteousness and none of their deliberations have been enforced.

In fact, attempts have been clandestinely made to undermine certain individuals in the party, presumed to boast some weight.

Such a government can hardly succeed for as long as it abandons the platform atop which it came into office as well as jettisons standard practice in party politics.

Thus, should Buhari continue with his solo approach without any significant success, other stakeholders might begin to find means of dissociating themselves from his failure. If he runs his government alone or with his preferred set of people, then it is expected that he and his preferred clique should confront the consequences of their style.

The Failed Promises The APC (that’s if there is a party) and President Buhari are being haunted by the promises they made to Nigerians during the 2015 presidential electioneering because in relation to time, those promises are beginning to appear impossible. Some of those promises are now being considered as mere political campaigns designed to hoodwink Nigerians by the opposition, and those behind those promises had their planned methodology of achieving them but they no longer have the influence to drive the implementation.

For example, Buhari promised to make the Naira equivalent to the US Dollar equal and this made many happy because the Nigerian economy is import-dependent. But when he assumed office, the value of the Naira to the Dollar, in the parallel market was N195 but CONT’D ON NEXT PAGE

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POLITICS/ THE MONDAY DISCOURSE BUHARI AND THE FEAR OF COLLECTIVE RESPONSIBILITY Notes for File

Can Jimi Agbaje Apply a Break?

Jimi Agbaje is one fine politician and patriot you can’t but love. He is one politician, who has had considerable following among the young, upwardly mobile people. I still can’t place his new bid to contest the National Chairman position of the PDP with Chief Olabode George. For me, it is not decent. It is morally offensive. There should still be some decency and honour in politics.

There is no reason why JK should struggle to contest the position with Bode George no matter, who is pushing him to do so.

This is Bode George who broke all the rules to make JK the PDP gubernatorial candidate in Lagos against the formidable political machine of Obanikoro (Musiliu).

He made sure JK emerged the candidate of his party as a new comer and he deployed all the support. I am not a fan of Bode George but one should think one good turn deserves another. Why do politicians easily turn against their benefactors? Why do people easily forget yesterday’s good deeds? Even among thieves, there should be honour. If I were JK, I will step down for Bode George. That is what honour is about.

-Culled from Ajayi Temitope Carter’s Facebook page NB Stemming from Carter’s take on the PDP national chair, it still beats the discerning how the stakeholders in the PDP cannot see the danger lurking in the corner for them with Jimi Agbaje’s candidacy. If their present experience with Ali Modu Sheriff has taught them nothing, it therefore shows how and why they woefully lost power to a non-starter APC after 16 years in power.

Here is an Agbaje, whose disposition shows does not believe in the PDP for what it is. He did not even join the party until it was clear to him that the APC would not hand him the governorship ticket and this is after several denials that he was moving to the party, including an exclusive report by THISDAY on it.

Not a kobo of his personal money was invested in his governorship aspiration. His election, from the primary to the general election, was funded by the former President Goodluck Jonathan, coming across as no less an opportunist. He has moved from AC, to DPA, CPC, Labour and PDP, all in the pursuit of different ambitions.

How do you trust such a man with an office as huge as the national chair of the PDP? Sheriff would be a child’s play by the time the nemesis of their choice catches up with them. If the governors, who are said to be rooting for Agbaje are doing this because they are looking for who to control, then, they should wait for the Agbaje they did not know.

Ultimately, the decision is theirs and they might have been caught in the web of two unfavourable choices like Nigerians were in the 2015 general election, the onus is still on them to properly analyse their choices and settle for the best, at least. Otherwise, their enemies will gladly watch them run from one court to another as they struggle to save themselves from their indiscretion and lack of wisdom.

Buhari with Bola Tinubu at a dinner

the current rate is hovering around N390.00.

While this runs contrary to his promise outright, the impact on the cost of living is simply impossible.

Another highly elating promise of the APCled government was that 500,000 unemployed graduates were to be employed as teachers but to the charging of not a few, the government announced that the teachers are to be trained under its social welfare scheme to serve as voluntary teachers in their communities while still prospecting for jobs in their chosen professions.

Even where the president did not have to lose goodwill, because all that he needed done was to sustain his frugal and incorruptible posture, by publicly declaring his assets upon assumption of office as he promised and he should also have insisted that all his appointees to do the same to ascertain his true stand about anti-corruption in his cabinet.

But after his swearing-in, it took Nigerians to demand copies of Buhari’s assets declaration documents as submitted to the Code of Conduct Bureau CCB. Though he initially released a statement claiming to have fulfilled his public assets declaration vow on June 6, 2015, he actually only submitted his assets declaration form to the CCB as every government official is mandated to do.

When public pressure mounted, the president released a statement listing his assets and those of Vice President Yemi Osinbajo. It was with no clear details of listed assets. It failed to provide addresses of landed properties, vehicle models, assets of spouse and children as required by law.

Though the presidency promised that those details would be made available to Nigerians once they were verified by the CCB, the president has still not come entirely clear on how much he is worth in assets by sending the photocopies of what he submitted to CCB to the media, as the late President Yar’Adua did. Yar’Adua made public, photocopies of his duly and honestly completed assets declaration form. He was recorded as the first time any Nigerian president would do so since independence in 1960.

Critics of the current government have continued to lament the lopsidedness in the president’s appointments, which some have blamed on his non-nationalistic outlook and same criticism has been his lot in the herdsmen crisis across the country. The killings in Agatu and other southern communities were not condemned by the president for weeks as there were no statements from his office on time, whereas he condemned terrorist attacks in Paris, Brussels, Grand-Bassam and in other places around the world.

This was one of the major crimes of former president Jonathan, who still face criticism over his initial lackluster attitude to the issue of the abducted Chibok secondary school girls, when the news of their kidnap first broke.

During the presidential campaigns, the APC saw no reason the nation should continue to hold on to about 11 aircrafts in the presidential air fleet and as such, his campaign assured Nigerians that some of those aircraft would be sold off if the president won the elections.

But up till now, not one has been sold yet.

Why this is so is still not known.

The promises are numerous and the failures are many too but one strong point of the government – the fight against corruption has also come under considerable criticism. The reason is because it is considered as selective and primarily targeted against members of the opposition. It is not out of place to look at some cases that have been shoddily buried like the Harlibuthon scandal and many others to show that there are no sacred cows.

Not only that, the crisis that has trailed the 2016 budget – from the allegation of its missing, to having duplicate in circulation, executive and legislative padding – has not presented the APC as a serious party that it poses to be, and until these issues are genuinely addressed without referring to them as family matter, the vanishing image of the government may not actually cease.

As Nigerians Speak Up… The criticism of Buhari’s government has been strident and scathing, especially in its handling of the economy which has given the impression that the president and his handlers were not prepared for governance.

But surprisingly, among the ordinary Nigerians who feel the pains the most, they still hope for the best.

Some still show support for the government and they are ready to endure the pains of the structural adjustments for some time. Even when they have dissenting views, these people still give kudos to the president for his ability to take the bull by the horn in tackling some of the problems of the nation.

Alhaji Kunle Akangbe, “The problem we are facing now is the process that comes with change. It is easy to destroy a building, but to rebuild it is the problem. Nigeria is like that house that was destroyed by a windstorm and the owner has to start rebuilding it while

Needless to reiterate that Nigerians saw in the president, a preternatural creature, perhaps, divinely ordained to right some of the many wrongs of the past, including his own misdeeds as a military ruler between 1983 and 1985, when he toppled a democratically elected government. But as time drags on, the wait on Buhari is becoming endless, somewhat and anxiety increases across the various strata of the system

living inside. It is only natural that you will suffer some climatic effect associated with being exposed to the elements.

“Unfortunately, Nigerians love magic and miracle. We need to learn to be patient to rebuild what has been destroyed. There are no magic anywhere.”

For his effective leadership in the handling of the affairs of the nation, Akangbe gives the President 7.5 on a scale of 1 to10.

Mr. Omoniyi Awolalu, an engineer with one of the power holding companies in Lagos, said the president couldn’t be better at handling the affairs of the country, especially the economy.

Awolalu posited that what the nation is going through is a structural adjustment in an atmosphere of reduced income earnings.

He stressed that no one could have handled the situation at time of economic meltdown.

He gave the president 8.5 rating.

On his own, Chief Olayiwola Adisa is afraid for the safety of the president. He expressed the fear that vested interests may not allow him to complete the works he has embarked upon.

“The president is doing a good work, but I hope the people, who have driven the nation to this level will allow him to complete the work. Our past leaders are terrible. They completely mess up the country. But let’s face it; this problem that Buhari is facing, the foundation was laid by the Chief (Olusegun) Obasanjo government. It is ironic that nobody is calling his name.

Mr. Akanbi Anigbajumo said the president may be a saint, “but his advisers and cabinet is suspect.” He posited that “there is not much the president can do when he has to work with a legislature that is crooked and a judiciary which ought to be the last hope of the people that evidently very corrupt. I can only praise his tenacity.” He rated him 7 over 10.

But Miss Kudos Ajeluwa is suspect that nothing much has been achieved because since such mind-boggling sums of money are allegedly being recovered from politicians, no one has been convicted in the law courts, a situation which makes the efforts suspect.

Ajeluwa was also angry at the ignorance expressed by top government and legislative officials about the workings of government.

She cried that until a conviction of a top politician is achieved and such person is sent to jail before the expiration of the term of this government, she would not believe in the anti-corruption crusade of the government.

She gave the president a 5-point rating.

Alhaji Wahab Alimi is confident that the president and the government are on course in the handling of national issues. He is of the opinion that the government should be encouraged. He stressed that from every indication, the future looks bright. But urged the President to look into the issue of food, which he said is what is paramount to the ordinary Nigerians. He gave a 7-point rating.

The same sentiment was shared by Alhaji Kabir Subair. He lauded the president’s ability to take charge at a time the situation in the country was almost beyond hope.

“We just have to endure the measures and be patient. We can only plead with him (Buhari) to find some palliatives for the question of food. We are not finding things funny at all.”

He gave the president a 10-point rating.

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FEATURES

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

War Against Rampaging Pipeline Vandals

Chiemelie Ezeobi writes that the ongoing Operation Awatse, the Hausa word for ‘scatter’, has really lived up to its name by dislodging the notorious pipeline vandals, who once held sway in Lagos and Ogun creeks

I

t was a well planned operation that ran seamlessly. These pipeline vandals were a law unto themselves. Having created a republic codenamed ‘The General’s Republic’ with a flag hoisted to mark the land as theirs, they ran a pipeline vandalism and oil theft syndicate that denied the nation of petroleum products worth billions of naira.

Given that these oil pipelines belonging to the Nigerian National Petroleum Corporation (NNPC) were virtually on exposed on the surface of the soil, these vandals, dug boreholes two kilometres away from the pipelines and siphoned the products illegally. These products then run into their already dug boreholes, from which they now scoop into kegs and drums and sell to the buyers both within Nigeria and to neighboring countries at lower rates.

THISDAY investigations revealed that before the bombings, the vandals had become war lords and were involved in illegally siphoning petrol products, raping several residents and kidnapping. They had also entrenched themselves further in the area to the extent that they created a republic in the area.

Within those creeks, there were increasing cases of kidnapping, rape, acts of vandalism and armed robbery operations continuously perpetrated by these vandals, who always come out of their enclaves to terrorise civilians in the nearby communities, especially in June. At the Ishawo community, cases of kidnapping abound especially that of the Redeemed Christian Church of God (RCCG) pastor and the recent abduction of the Oba of Iba, Oba Goriola Oseni, who was recently rescued.

All that was until July 28, 2016, when the Joint Task Force codenamed Operation Awatse, commenced the aerial bombardment of Fatola, one of the hideouts of the notorious pipeline vandals in the Arepo area of Ogun State, as well as other creeks and mangroves of Ishawo and Igando areas of Ikorodu in Lagos State; then Awawa, Elepete and Ibafo areas of Ogun State.

After the intensive aerial bombardment and subsequent invasion of the enclave by the Nigeria Air Force (NAF) fighter pilots, that lasted for nearly a week, the ground forces then moved in to mop up and destroy the camps, just as they arrested 11 of the vandals.

Codenamed ‘Operation Awatse’, an Hausa word for ‘scatter’, which has both the land, air and maritime components in place, is championed by the Joint Task Force (JTF) comprising the elements of the Nigerian Navy (NN), the Nigerian Air Force (NAF) and the Nigerian Army (NA), alongside the Department of State Security Services (DSS) and the Nigerian Security and Civil Defence Corps (NSCDC) and the Nigerian Police Force (NPF).

Hinged on the pilot scheme of Intelligence, Surveillance and Reconnaissance (ISR), the Air Force had deployed two fighter jets, one MIG 34 and ATR4 aircraft for the operation. But with so many targets in the creeks, it was gathered that the vandals had set up observation posts, which are manned by their heavily armed duty post guards. The surveillance videos obtained by the NAF Beachcraft (NAF 202), showed that the vandals were heavily armed and they had the GPMG, which they mounted on their gunboats.

Also, the video surveillance at night showed the vandals doing incantations, probably to use voodoo power to protect their camps and foil subsequent bombardments by the NAF pilots.

Although the video had no sound, the vandals were however seen dancing around and chanting repeatedly with white handkerchiefs tied round their arms.

The Comannding Officer, NNS Beecroft, Commodore Abraham Adaji (wearing navy blue uniform), inspecting the outcome of Operation Awatse The Vandal’s Modus Operandi THISDAY gathered that the aerial surveillance video obtained by the NAF aircraft showed millions of kegs containing the stolen petrol products, which were chained together and hidden in the creeks. At the Arepo area in particular, the video showed a massive oil theft cartel, operating their well-oiled operations in the creeks.

Disclosing the modus operandi of the vandals, a senior military officer who spoke on condition of anonymity said, “The NNPC pipelines are on the surfaces, so what these vandals did was to dig boreholes and it’s two kilometres away from the pipelines. So you don’t even see them siphoning the products. What happens is that these products run into their already dug boreholes, from which they now run into kegs and drums and sell to the buyers. It’s a carefully planned operation.”

Meanwhile, THISDAY also exclusively gathered that some petrol stations along the Lagos-Ibadan Expressway are already on the watch list of the security agencies. Speaking

The inaccessibility of the area helped their trade.

Aside the fact that the water is shallow, they cut down trees and blocked the waterways…In the video, one of the canoes had a GPMG gun and the interpretation is that what is happening there is well planned, given how well armed they are

on anonymity, an impeccable source said, “As part of the operations, we also plan to not just mop up their sponsors but also the customers, who patronise them and buy stolen products.

“Already, our intelligence gathering has revealed that some petrol stations along the Lagos-Ibadan Expressway work in connivance with these vandals. Their deal is that these vandals get the stolen products and sell some to them at lower rates. Asides this, we have also located their major market, which is a settlement in one of the creeks. Our intelligence gathering revealed that they sometimes go as far as smuggling the products through Igando creeks to Badagry.

We have men stationed already there to block the market and arrest any of them seen trying to make sales.”

THISDAY investigations also revealed that from the Wawa area of Arepo, it is easy to ferry the products from Arepo, from where it is transported to different parts of the country and sometimes to neighbouring African countries.

Also, at the Ikorodu area at Majidun lies a market that handles the trans-border trade between vandals at Ikorodu and buyers from Arepo and vice versa.

To the uninitiated, the route from Ikorodu to Arepo would seem curvy and confusing because the route forks into two, with the one on the left leading to Arepo from where the product is sent to different parts of the country. The market is hidden out of sight and inwards the creeks but are accessed by these vandals without stress.

A Recap of Operation Awatse The intensive offensive air strikes were initiated to flush out the pipeline vandals turned militants operating at Ishawo and Igando areas of Ikorodu in Lagos State; then Arepo, Awawa, Elepete and Ibafo areas of Ogun State, given that the JTF was tasked with the responsibility of protecting the NNPC pipelines from Atlas Cove to Mosimi Depot.

After the previous months of successfully repelling the vandals from these areas, arresting many and recovering thousands of stolen

products, the displaced vandals had merely retreated from sight. They had moved deeper into the mangroves and thick foliages, where it would be practically impossible forces to track them because of the difficult and tenuous terrain.

They also cut down thick trees and blocked the already narrow and shallow creeks. THISDAY also gathered that to prevent invasion by the military, the suspects had laid bobby traps along the narrow pathway that leads to the mangrove.

Their method worked until recently when the military decided to activate its air power.

But this time around, although the military were initially directed against using air power to bomb the area, the Chief of Defence Staff (CDS), General Gabriel Olonisakin, had cause to change his mind after an aerial surveillance revealed that the vandals had moved from accessible areas to the impenetrable mangroves.

With that, the Intelligence, Surveillance and Reconnaissance (ISR) was carried out before the actual bombing occurred.

Therefore, on Thursday, July 28, in an unprecedented move, the military decided to take out these enclaves and hideouts of the vandals once and for all by bombing all the mapped out areas captured in video format by the surveillance helicopters.

Meanwhile, before the offensive started on Thursday night, the DSS had already helped out in ferreting intelligence and underground fact finding while the police were brought in for search and rescue at the fringe of the mangrove for some persons who had been kidnapped by these suspects earlier.

So, on that fateful day, the military deployed its fighter jets, attack helicopters and Alpha jets not just to bomb the area but as a show of force multiplier and show of force. Thus, when the aerial bombardment began at midnight, pandemonium had erupted as the residents of the area thought militants from the Niger Delta had struck.

But addressing journalists the next day at the conference hall of the Western Naval Command (WNC), the Flag Officer Commanding,

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FEATURES

The Acting Inspector General of Police, Ibrahim Idris (left) and the Flag Officer Commanding, Western Naval Command, Rear Admiral Fergusson Bobai, during an on-the-spot assessment of Arepo WNC, Rear Admiral Fergusson Ducas Bobai, assuaged all fears, adding that the offensive would continue until the vandals are given a run for their money.

Given that the Operation Awatse has intensified efforts to clear out the enclave permanently, Bobai said they would this time go beyond that to get to the chief sponsors of the vandals, to know who armed them with the heavy duty weapons they were toting.

He said, “Last month, we got a directive from the Chief of Defence Staff (CDS), General Gabriel Olonisakin, to carry out an operation in Arepo and dismantle the vandal’s camps scattered around Ishawo in Ikorodu, Ibafo and Arepo in Ogun State.

Initially, we were directed not to use air power when we carried out an assessment of the area, the vandals had moved from accessible areas to the mangroves.

“We got back to the CDS informing him that taking out the target is through air power and we were directed to do a general assessment and deploy attack helicopters. But before then, we were in touch with Lagos and Ogun State Governments because the Areas of Responsibility (AOR) were within their domain.

“First, we deployed a surveillance aircraft to go see the area and we analysed the videos and pinpointed the areas to be destroyed. The revelation from the video showed that a lot of pipeline vandalism was taking place in the area. We could see loads of jerrycans chained together in the area.

“The inaccessibility of the area helped their trade. Aside the fact that the water is shallow, they cut down trees and blocked the waterways.

On Thursday, we initiated action and we knocked down some. Later, the surveillance aircraft went up for another video surveillance to survey the area. In the video, one of the canoes had a GPMG gun and the interpretation is that what is happening there is well planned, given how well armed they are.”

However, Bobai said one of the major challenges the military offensive is facing is the inclement weather. He said, “The weather is one of the major challenges because the clouds are low. So, the helicopter is finding it difficult to manoeuver. However, we will continue our offensive.”

On Saturday, the ground forces attempted to move into the dreaded enclave of the notorious pipeline vandals at the Arepo area to mop them up after three days of sustained aerial bombing of their hideouts at the creeks and mangroves.

Before the bombings continued on Sunday, the land component; Army, NSCDC and the police were able to identify the getaway routes and blocked it, while the maritime component, which is the navy, had also blocked the escape routes especially that of Abeokuta, Ogun State.

On Monday, Bobai, while harping on the Chief of Naval Staff, Vice Admiral Ibok Ette-Ibas’ mission, which is “to deploy a naval force that is well trained, organised and highly motivated to discharge its constitutional roles professionally and efficiently for the defence of Nigeria in ensuring her economic prosperity” said the navy has zero tolerance for crude oil theft, pipeline vandalism and other maritime illegalities.

He said, “The Air Force went for reconnaissance this afternoon and they went in and came out.

After the bombing, the picture of the bombardment was interpreted. We will sustain bombing of the mapped out areas. After the bombardment and the interpretation, the land forces will go in today (Saturday) into those places that have

been bombarded to comb it thoroughly.”

On Tuesday, the JTF sustained the tempo in flushing out the dreaded pipeline vandals occupying the creeks and mangrove in Lagos and Ogun States. Although the weather hampered plans by fighter jets of the NAF to sustain its four days aerial bombardment of the creeks, surveillance and reconnaissance however continued.

By Thursday, the ground forces were finally able to access three of the camps and destroyed what was left of it and on Saturday, they had accessed the headquarters of the vandals and completely brought down the structures.

Also dispelling rumours that innocent civilians were bombed, the Defence spokesman, Brigadier General Rabe Abubakar, said, “There is no way innocent persons would be hit because what we are doing is ‘precision attack on registered target or identified location’. No innocent Nigerian was hit. The attack is on the criminals who hide in the creeks.”

Urging people to desist from tagging the criminals as members of a particular ethnic group he said, “We are not carrying out military attack on Ijaw, we are carrying out the operation against criminals. We don’t tag them. Militants are militants. We don’t want to know if they are Hausa, Igbo or Yoruba, our war is against pipeline vandals and oil thieves.”

Successes Recorded So Far During the operation, the anti-pipeline vandalism Joint Task Force (JTF), were able to smoke out 11 notorious pipeline vandals due to the ongoing aerial bombardment. This is just as it has identified and bombed four key targets (observation posts) in the hideouts of the notorious pipeline vandals, which was manned by heavily armed duty guards.

While confirming the arrests, Bobai said they would sustain the aerial bombardment and to assess the level of successes recorded, the FOC alongside other security agencies had an after battle assessment after the initial five-day aerial bombardment.

Representing the services were the General Officer Commanding (GOC), 81 Division Headquarters of the Nigerian Army, Major General Isidore Edet; the Air Officer Commanding (AOC), Air Force Logistics Command, Air Vice Marshal

Through the surveillance gathered, we identified four key targets, which we believe we knocked off and there is confusion in the vandals’ camp…We are going to sustain and continue to mop up the ground as the Nigerian Air Force continues to use their air power to neutralise some other areas. Already, we have arrested 11 suspects who are being processed and profiled

Some of the abandoned kegs Sani Ahmed and the Commander, Nigerian Army 9 Brigade, Brigadier General Sani Mohammed.

Others include the Lagos State Commissioner of Police, Fatai Owoseni; the Commandant, Nigerian Security and Civil Defence Corps (NSCDC), Tajudeen Balogun; and the Director, Department of State Security Services.

According to Bobai, the decision to therefore sustain the aerial bombardment, was to ensure that the four key targets gotten on the surveillance videos are knocked out using precision attack on registered targets. He said, “After using some of their surveillance aircraft to carry out reconnaissance of the areas since Thursday, the Nigerian Air Force pilots were at the Logistics Command to brief us.

“Through the surveillance gathered, we identified four key targets, which we believe we knocked off and there is confusion in the vandals’ camp. The Nigeria Air Force over the weekend used their Alpha Jets and helicopters to identify the targets and so, we had to call all the agencies involved to do an after battle assessment.

“We have watched the video that the reconnaissance aircrafts have captured and we are very convinced that there is need to sustain the operation. Therefore, we are going to sustain and continue to mop up the ground as the Nigerian Air Force continues to use their air power to neutralise some other areas.

“Already, we have arrested 11 suspects who are being processed and we are profiling and interrogating them to ferret out further clues from there, which will assist us in the operation. We have 11 suspects in our custody. They are still being processed. All the security agencies are involved in this operation to avoid infiltration of other areas by militants. It will not be limited to Arepo. If we get information that some of them have escaped and are in another area, we will go after them.”

On the millions of kegs containing the stolen products, which were sighted in the surveillance videos, he said they will set them all ablaze because the terrain is too difficult to bring them out. He said, “We will set them ablaze because it’s not easy to recover any of the stolen petroleum products stored in jerrycans in the creeks. There is no need going into task that will be fruitless.”

The Air Force’s Input Although the navy chairs the JTF, the aerial bombardment, surveillance and reconnaissance is being carried out under the leadership of the AOC Logistics Command, AVM Sani Ahmed, who coordinates and guides the air component of the entire exercise.

The strength of the air component lies in the Beachcraft aircraft, the Maritime Patrol Aircraft (ATR4), two Alpha jets and the MIG 34 aircraft, which is used for close support and has mounted rifles, guns in front for dropping rockets.

Also, speaking, the Air Force Director of Public Relations (DOPRI), Group Captain Ayodele Famuyiwa, confirmed to THISDAY that aerial bombardments are ongoing and would be sustained, adding that although the vandals have been displaced, operations will still be intensified to neutralise their criminal activities.

He said, “The Chief of Air Staff (CAS), Air Marshal Sadiq Abubakar, is committed to timely employment of air power in response to Nigeria’s national security imperatives. We have sustained our air power in the North, in the South and now in the West. Our Alpha jets conducted the air strikes and we won’t stop bombing that area until the vandals are flushed

out and the menace of pipeline vandalism and crude oil theft is eradicated.

“There are strong indications based on analysis of the enclosed footage on Intelligence, Surveillance and Reconnaissance (ISR), as well as Strike and, Battle Damage Assessment (BDA) missions undertaken by NAF aircraft that the vandals have been sufficiently displaced from their current locations at Arepo while their criminal activities have also been heavily disrupted. NAF is at present operating in four zones across the country to tackle various forms of internal security challenges. They include insurgency in the North-east; cattle rustling, kidnapping and armed robbery in the North-west; militancy in the South-south; and pipeline vandalism in the South-west.”

An On-the Spot Assessment In two separate operations, the acting Inspector General (IG) of Police, Ibrahim Idris and the FOC, Western Naval Command, Rear Admiral Bobai, also recently visited the dreaded creeks in Lagos and Ogun States and the duo also ordered for the immediate demolition of the vandal’s buildings.

While the IG had gone straight to Ishawo in Ikorodu to see the extent the Operation Awatse Joint Task Force had gone, the FOC had however extended his tour not just at Ishawo but to Arepo, Ibafo and Elepete. Bobai, who is the chairman of the JTF, again reiterated the resolve of the military to rid the area of their responsibility of pipeline vandals, who constitute economic sabotage on the nation’s resources.

He also said that given the numerous successes recorded by the joint task force, they were encouraged to sustain the operation and ensure that all the nooks and crannies of the creeks were secured. Following the success of the several aerial bombardments, the ground troops would be deployed to enter the hinterland part of the creeks and mop up the remaining suspects He said, “We went for an on-the-spot assessment and following the success of the aerial bombardment by the Air Force, the ground troops will now be deployed to go in and mop up. So far, the operation has been successful with the arrest of 11 suspects so far in our custody. We will sustain the tempo however. The job is not over yet. But be rest assured, we will finish it.”

On the other hand, the IG ordered for the immediate demolition of houses used by pipeline vandals in the Ikorodu area of Lagos after some of the buildings used to siphon fuel were discovered by the JTF. The IGP who was on an on-the-spot assessment of the Ishawo, said so far, two locally made guns, two Generator sets, eight dane guns, 32 live ammunition, two laptops, a General-Purpose Machine Gun(GPMG) magazine, AK 47 rifle , I8 cutlasses, Police badges and voters cards were recovered from the houses.

He said with the recovery, the police would be able to trace the suspects as the account numbers of the depository and the banks were known and while encouraging the security operatives keeping vigil in the volatile areas, he also pleaded with fleeing residents in Arepo and Ikorodu to come back home since the police and other sister agencies are on ground to provide adequate security in the area.

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

22

IMAGES

T H I S D AY • MONDAY, AUGUST 15, 2016

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

L-R:Chief Executive Officer, 7EVEN Interactive, Mr. Taiwo Agboola; Head of Creative, Mr. Ndukwe Onuoha; and Head, Media, Mr. Tayo Kolawole, during a press conference on the achievements of the company, in Lagos... recently

L-R: Wife of Late Professor Ade-Ajayi, Mrs Christe Ade-Ajayi; Vice-Chancellor, University of Lagos, Professor, Rahamon A. Bello;Guest of Honour/Vice-President, Professor Yemi Osinbajo; and guest lecturer/Vice-Chancellor, University of West Indies, Professor Hilary Beckles, during the J.F Ade-Ajayi Memorial Lecture at Unilag, Akoka, Lagos...recently YOMI AKINYELE

L-R; One of the winners at the Lagos Regional Draw of the “FCMB Millionaire Promo Season 3”, Mr. Omosehin Ademola; Divisional Head, Retail Banking, First City Monument Bank (FCMB) Limited, Mr. Olu Akanmu and the Regional Retail Head of the Bank, Funmilola Paseda, during the promo draws ceremony held at Ajah in Lagos... recently

L-R: CIO, Old Mutual Investment Group, Hywei George; CEO, OMIG, Diane Radley; Minister of Finance, Kemi Adeosun; and MD/CEO, Nigeria Sovereign Investment Authority, Uche Orji, at the Agreement-Signing Ceremony for NSIA-Old Mutual Investment Group $500m Real Estate Vehicle and $200m Agriculture Vehicle in Abuja... recently

L-R; Senior Vice President Vendor Management, Jumia Nigeria, Thomas Simonet, Chief Executive Officer, Juliet Anammah, Head of Marketing, Simone Bartlett and the Head of Customer Operations, Chidinma Ifepe during the Jumia facility tour and management session in Lagos...recently

L-R: Director, Legal/secretary, Nigerian Railway Corporation, Mr. Ndubueze Ukwuomah; Director, Corporate planning, Mr. Timothy Zalanga; Assistant Director, Track, Mr. Ayeni Adekunle; and Assistant Director, Rail Planning and Development, Mr. Moji Dimka, during the official opening screening of bidders document 2016 capital project by NRC in Lagos...recently KOLAWOLE ALLI

L-R: Chairman, First Bank of Nigeria (FBN) Capital (Ltd), Mr. Kayode Akinkugbe; Managing Director/CEO, Financial Market Dealers Question (FMDQ), Mr. Bola Onadele Koko; Managing Director UPDC Plc, Mr. Hakeem Ogunniran; and Division Haed, Assets & Investment Management, Aigbovbioise Aig-Imoukhuede, during the UPDC Commercial Paper listing on the FMDQ platform at the FMDQ Securities Exchange in Lagos,..recently YOMI AKINYELE

L-R; Head of Finance, Folahan Salam; Chief Executive Officer/Chief Creativity Officer, Steve Babaeko and Head, Human Resource, Olasunkanmi Atolagbe all of X3M Ideas Marketing Communications, Lagos at the dinner marking the 4th Anniversary of the agency at X3M Ideas’ House in Lagos….recently.

23

T H I S D AY • MONDAY, AUGUST 15, 2016

BUSINESSWORLD NIBOR OVERNIGHT 1-MONTH

R A T E S 9.9167 16.8486

3-MONTH 6-MONTH

A S 18.1319 20.1021

A T

NITTY 1-MONTH 2-MONTH 3-MONTH

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

A U G U S T 14.8965 15.4858 16.4897

6-MONTH 9-MONTH 12-MONTH

1 1 , 18.6188 19.2956 21.3886

2 0 1 6

EXCHANGE RATE N332.07/ 1 US DOLLAR* *AS AT LAST FRIDAY

Quick Takes Negative Rates Hurt BOJ’s Profits

Japan’s financial watchdog estimates that negative interest rates under the Bank of Japan’s (BOJ’s) monetary easing policy will reduce profits for the country’s three big banks by at least 300 billion yen ($2.96 billion) for the year through March 2017, Reuters quoted Nikkei business daily to have reported.

The Financial Services Agency (FSA) expressed concern to the BOJ regarding the situation as it sees reduced profits weakening the banks’ ability to extend loans, the Nikkei said.

According to FSA estimates, Mitsubishi UFJ Financial Group Inc’s (8306.T) profit will fall by 155 billion yen. Sumitomo Mitsui Financial Group Inc’s (8316.T) profit will be reduced by as much as 76 billion yen and that of Mizuho Financial Group Inc (8411.T) will be cut by 61 billion yen.

If the BOJ was to take interest rates deeper into negative terrain, the agency reckoned that the banks would suffer substantial further drops in profit as their interest rate income would suffer.

The BOJ implemented negative interest rates in February in a bid to boost the economy, under which it charges banks for parking some of their excess reserves at the central bank.

While negative rates reduce the cost of borrowing money for businesses, it can also eat away at banks’ profits as they have to absorb the cost of negative interest rates.

A WARM WELCOME

Chairman, Petroleum Technology Association of Nigeria (PETAN), Mr. Bank Anthony OKoroafor (left), in a handshake with Rivers State Governor, Nyesom Wike, during a courtesy visit to the governor at the Rivers State Government House, Port Harcourt by the PETAN chairman …recently

SEC Rules Out Crowdfunding in Nigeria for Now Goddy Egene Companies and group of individuals’ ambitious targets to raise funds through Crowdfunding the Nigerian financial markets are being inhibited by the restrictive provisions in the Companies and Allied Matters Act, 1990 and Investment and Securities Act, 2007 the Securities and Exchange Commission (SEC) has disclosed.

Crowdfunding is the use of small amounts of capital from a large number of individuals to finance a new business venture using easy accessibility of vast networks of people through social media and crowdfunding websites to bring investors and entrepreneurs together.

ECONOMY Crowdfunding is very popularly in use in the United States (US), Europe and Asia to raise capital for various financial and non-financial projects. There are more than 1000 Crowdfunding portals worldwide supporting a multi-billion dollar industry. For instance global Crowdfunding hit $16.2 billion in the US in 2014. And given the tremendous growth in online platforms that has led to the success of online shopping portals in Nigeria, many fund seeking corporates and groups have shown interest to source for funds through Crowdfunding in the country.

However, the Director General of SEC, Mounir Gwarzo said crowdfunding cannot be

effective in Nigeria for now because of lack of rules and inhibitions in the provisions of CAMA and ISA. Speaking in Lagos last week the SEC boss said while the commission is committed to deepening the nation’s capital market to meet the funding needs of corporates and grow the economy, the legal provisions are a big challenge.

“We are aware of the growing interests among Nigerians to use Crowdfunding to raise funds.

However, that cannot materialise now given the legal challenges as a result of the provisions in CAMA and ISA. But we are looking for ways to go about it so that companies will enjoy the benefits of Crowdfunding in the country as well,” Gwarzo said.

According to him, SEC is looking at the Crowdfunding rules in US and Canada in order to ensure an enabling legal and regulatory framework that will support this massive global innovation.

It is believed that equity crowdfunding will prove to be an expedient way for many struggling SMEs to raise capital since they find it difficult to raise startup capital because they are considered as high risk to banks.

The theory behind crowdfunding is that if a large number of people, referred to as the “crowd”, each provide monetary contributions, then it is possible to raise substantial Continued on page 24

NSC: Transportation Sector Can Contribute 10% to Nigeria’s GDP Eromosele Abiodun The Executive Secretary of Nigerian Shippers’ Council (NSC), Hassan Bello has stated that the transportation industry can contribute about 10 per cent to the Nigeria’s gross domestic products (GDP) if the right policies are in place to drive the sector.

To achieve this, he said there must be massive investment in infrastructure and training for operators and regulators on new global trends in transportation services.

Bello stated this over the weekend when he received officials of the Nigerian Institute of Transport Technology (NITT)

ECONOMY led by its Director General, Dr. Aminu Yusuf, who paid him a courtesy visit in his office.

He stressed that as Nigeria looks to export to diversify its economy, transportation and shipping are the key, adding that there must be processes put in place to achieve this.

He said the NSC is knowledge- driven hence there is need for the maritime sector to be driven by personnel in specialised knowledge.

Bello said: “So many mistakes have been made in the industry as a result of the huge knowledge gap. We cannot afford to

make any mistakes this time that we have limited opportunity in the sector. Transportation is a significant aspect of the Nigerian economy. The time has come for the sector to mean something and contributes a huge portion of the nation’s GDP. “There is need for investment to get the sector to be properly linked to the Nigerian economy. The shippers council is interested in developing policies that is aimed at growing the transportation sector. There is a gap in the industry today. The industry is knowledge driven hence the need for training and retraining.”

The NSC boss restated the council’s determination to

partner the NITT for effective training and capacity building development of personnel.

While noting that capacity building is instrumental to the development of the maritime sector, Bello stressed that there is need to sign a Memorandum of Understanding (MOU) between the agency and the institution.

Bello commended the effort made so far by the institute on training stating that it has trained a large number of professionals in the transport sub sector of the economy.

He urged the institute to put in place awareness campaign programme to move the training Continued on page 24

Lufthansa, Pilots’ Union Pay Talks Deadlocked

Germany’s Lufthansa and pilots’ union Vereinigung Cockpit (VC) havebrokenofftalksoverpayandearlyretirementtermsaftermonths of negotiations, they said on Saturday.

While progress had been made on many points, both sides were unable to reach agreement on others, a Lufthansa spokesman said.

Lufthansa has been in talks with the pilots union for four years in a long-running dispute that has seen more than a dozen strikes hit one of Europe’s largest carriers.

TheairlineistryingtocutcostsatitsmainbrandinGermanyinorder to better compete with low cost rivals in Europe and fast-growing long-haul carriers such as Emirates and Turkish Airlines.

It has already agreed wide-ranging pay and pension deals with cabin crew and ground staff.

Union representativessaidinalettertomembersseenbyReuters that it was willing to do its bit to make Lufthansa more competitive, but there was no point continuing the talks.

Lufthansa said it still believes that an agreement is possible and will do its utmost to resume talks with VC.

Women Make Up 6% of CEOs in Energy

The number of women in the C-suite at U.S. energy companies is still not on par with their male counterparts.

Analysis from global advisory firm Korn Ferry reveals that women make up significantly less C-level positions in energy, with the exception of chief human resource officers (CHRO). Women account for 57 percent of CHRO positions in energy.

Korn Ferry’s analysis of energy companies represents 33 U.S. states, with the highest concentration (37 percent) residing inTexas, and finds that women make up about one-quarter (24 percent) of all C-suite positions.

The most senior position of CEO is held by the smallest percentage of women. Gender diversity has been a continuing challenge for the energy industry, which also has far fewer women represented on company boards of directors.

“Study after study shows that diverse senior teams provide better corporateresults,”PeggyHazard,KornFerry’smanagingprincipal,was quoted by Rigzone to have said in a release. “Having more women at the top is a priority for our clients. However, the needle is not moving as quickly as any of us would like to see.”

Korn Ferry’s analysis also includes other industries (consumer, financials, life sciences, industrials and technology). Among all industries, energy held the highest percentage of women in CIO positions.

CraigStephenson,KornFerry’smanagingdirectorforNorthAmerica’s CIO practice, told Rigzone there were more energy companies to permit a broader sampling and by “coincidence or luck,” they were able to recognise more diverse CIOs in that sector.

“We would want economic operators in Côte d’Ivoire to source what they can from Nigeria” Nigeria’s Ambassador to Cote d’Ivoire,

Mrs. Ifeoma Akabogu-Chinwuba

24

T H I S D AY • MONDAY, AUGUST 15, 2016

BUSINESSWORLD SEC RULES OUT CROWDFUNDING IN NIGERIA FOR NOW

sums of money, without the need to go to traditional lending sources.

However, SEC regulates all securities offered for sale by public companies in Nigeria and currently there are no provisions relating to crowdfunding in the SEC rules. Besides, the provisions of CAMA, regulates the formation and operation of all types of companies and enterprises in Nigeria, will place restriction in dealing with transfer of shares, invitations to the public to subscribe for shares among others.

NSC: TRANSPORTATION SECTOR CAN CONTRIBUTE 10% TO NIGERIA’S GDP

outfit forward.

“The two institutions are knowledge driven, what we do is to get the required knowledge because it is the knowledge that drive the industry and so many mistakes has been made due to lack of knowledge and Nigeria will suffer for it” “But now the choices we have for the industry are limited and we cannot afford to make such mistakes and therefore we have to patronise this fountain of knowledge called NITT,” he stressed.

Bello described the NITT programmes as innovative and modern saying that transport is a significant component to Nigeria economy.

On his part, the Director General, NIIT, Dr. Aminu Yusuf said the NITT has been able to put in place measures to pursue transport education development programme to set agenda for the overall development of the sector.

He, however, appealed to the NSC’s boss to look into the possibility of investing in the infrastructural development of the institute and jointly carry out research projects on transport and logistics.

Furthermore, he said the NIIT cannot improve on its own without the patronage of government agencies like the NSC adding that the NSC as an economic regulator must ensure that the right things are

Group Business Editor

Chika Amanze-Nwachuku 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 (Maritime) Ejiofor Alike (Energy) James Emejo (Nation’s Capital) Obinna Chima (Money Mkt) Reporters

Nume Ekeghe (Money Market) Nosa Alekhuogie (AgriBusiness)

NEWS

BoI, Gombe Sign N360m Solar Power Agreement James Emejo and Chukwuemeka Maduagwuna in Abuja The Bank of Industry (BoI) and Gombe State Government have signed a N360million deal for the deployment of pay-asyou-go solar home systems in selected rural communities in the state.

Gombe was one of the states that benefitted from the first phase of the BoI/UNDP rural electrification programme involving one community in each of the six geopolitical zones.

Due to the success of the initial project, the Gombe State Governor, Dr. Ibrahim Damkambo wants the project replicated in other nine local government areas of the state.

The acting Managing Director, BoI, Mr. Waheed Olagunju said the project would boost economic activities in the benefiting communities.

The project, which is expected to commence with the deployment of stand-alone solar home systems in Lule 1 and 2 communities in Dukku LGA and Pata community in Yemaltu Debba, will be cofunded by the BoI and Gombe State Government on equal sum of N180 million each.

Olagunju said the problem of electricity supply from the national grid in Nigeria underscored the need to explore other sources of power generation.

He said: “The persistent problem of electricity supply from the national grid in Nigeria has made it imperative to explore alternative power supply options to lift Nigeria and its rural communities in particular, out of darkness and provide them a new lease of

life afforded by the presence of not only reliable, but clean and sustainable energy.”

He called on other state governors to replicate the solar systems in off-grid communities in their states, adding that it had been stories of improved livelihood, better living condition and economic rejuvenation in the communities where the first phase of the projects were executed.

According to him, “These communities with an average of 200 homes, each hitherto had no electricity and lived in darkness. But since the provision of solar electricity, the lives of the

inhabitants of these communities have changed dramatically.

“The provision of solar electricity has reduced energy costs, created more micro businesses, improved healthcare and quality of education.”

While underscoring the overall significance of alternative form of energy, Olagunju maintained that it would be difficult for the country to achieve inclusive and sustainable growth and development without taking proactive steps towards addressing the myriad of challenges that had stalled the progress and prosperity of its people, particularly those

Following the approval of the Minister of Finance, Mrs. Kemi Adeosun, the Nigeria Deposit Insurance Corporation (NDIC) is to set a new maximum deposit insurance coverage (MDIC) for each depositor of Primary Mortgage Banks (PMBs) to N500,000 from N200,000.

The approval further enabled the corporation to extend the differential premium assessment system (DPAS) to the PMBs. The minister’s approval was contained in a letter dated August 4, 2016, which emphasised the need for the NDIC to ensure that all the DMBs, PMBs and MFBs strictly adhere to sound risk management practices and entrench compliance to the CBN approved code of corporate governance standards.

In a statement signed by its Head, Communications and Public Affairs, Alhaji Hadi Birchi, the Corporation noted that as part of its statutory functions as a deposit insurer,

conjunction with GVE Project Nigeria Limited, sponsored a pilot mini solar power project in Kolwa in Kaltungo KGA. The project is the first of its kind in the state and in the entire north east geopolitical zone.

“It is gratifying to note that the Kolwa project is improving the living standard of the people in that community. We have indeed realised the immense economic benefits of the mini solar project and decided to replicate in other rural areas.

I have approved the release of the counterpart fund to the bank to facilitate early take off of the project.”

CONGRATULATIONS

L-R: Ilupeju Business Manager, Sterling Bank Plc, Kemi Wilkey; President, Cooperative Society, Hogg Robinson Nigeria, Festus Okiya; Business Executive, Ikeja, Sterling Bank Plc, Eniola Obe and Relationship Officer, Sterling Bank Plc, Mojisola Ewarawon at the presentation of Cheque to Hogg Robinson Cooperative Society in the on-going Sterling Plus Cash Reward Promo held in Lagos…recently

NDIC Reviews Coverage Limit for Depositors of Primary Mortgage Banks James Emejo in Abuja

at the bottom of the pyramid.

Nevertheless, Dankwambo said he asked that the solar system be replicated in nine other local government areas of the state based on the success story of the pilot project.

In order to facilitate immediate the commencement of the project, the governor said he had approved the release of N44million, being its own share of the counterpart funding, for the execution of the project, starting in two rural communities of the state.

He said: “It is in our efforts to create job opportunities to our teeming youths that the bank, in

Section 20 (2) of the NDIC Act 2006, empowers its board to periodically review the maximum deposit insurance coverage for licensed banks and other deposit taking financial institutions in accordance with changes in deposit structure, income levels and in line with global best practices.

The approval, which was granted by Adeosun in a letter dated August 4, 2016 emphasised the need for the Corporation to ensure that all the DMBs, PMBs and MFBs strictly adhere to sound risk management practices and entrench compliance to the CBN approved code of corporate governance standards.

As part of its statutory functions as a deposit insurer, Section 20 (2) of the NDIC Act 2006, empowers the Corporation’s Board to periodically review the maximum deposit insurance coverage for licensed banks and other deposit taking financial institutions in accordance with changes in deposit structure, income levels and in line with global

best practices.

The NDIC said there was compelling need for an upward review of existing cover limits.

It said: “The MDIC review is carried out through studies and surveys and is aimed at ascertaining the adequacy or otherwise of the deposit insurance coverage level for insured institutions in Nigeria. The outcome of the most recent survey that was conducted in August, 2015 revealed the compelling need for the upward review of the current MDIC for the PMBs from N200,000 to N500,000 per depositor. The survey also revealed that the MDIC increase would cover 99% of depositors of the PMBs in Nigeria.”

It added: “The adoption of DPAS in assessing the annual premium payable by PMBs will promote better risk management in the banks in line with international best practices. Presently, over 120 countries across the globe have adopted DPAS as an objective method of insurance premium pricing.”

Stanbic IBTC to Float New Exchange Traded Fund Goddy Egene Stanbic IBTC Asset Management Limited, a subsidiary of Stanbic IBTC Holdings Plc, has concluded plans to launch a new Exchange Traded Fund (ETF). According to the company, to be called the Stanbic IBTC Pension ETF 40, the ETF will mirror the Pension 40 Index.

The launch will bring to two the ETFs in Stanbic IBTC Asset Management Limited’s portfolio. In 2014, the company launched the Stanbic IBTC ETF 30, which tracks the performance of the top 30 stocks listed on the Nigerian Stock Exchange (NSE).

The Pension Index, launched last year by the NSE to drive market optimisation, is a tracking mechanism for investors, particularly institutional investors like Pension Fund Administrators (PFAs), that invest in line with guidelines set out by the National Pension Commission (PENCOM).

The NSE Pension Index monitors the top 40 most capitalised and liquid companies in the market.

Commenting on the new ETF, the Chief Executive,

Stanbic IBTC Asset Management Limited, Mrs. Bunmi Dayo-Olagunju, said the primary objective of the Stanbic IBTC Pension ETF 40 is to provide investors access to the most liquid publicly quoted companies on the NSE that are compliant with the regulatory requirements for investing pension assets in terms of taxable profits, free float, dividend, sector and individual stock weighting.

“The Stanbic IBTC Pension ETF 40 is designed as an instrument of choice for PFAs, Life Assurance companies, institutional investors, as well as foreign portfolio managers who are desirous of the Nigerian exposure with minimal liquidity and exit risk,” Dayo-Olagunju said.

Highlighting some of the benefits of the ETF, DayoOlagunju said the fund would provide investors with a strategic exposure to the equities market, allowing for flexibility, cost effectiveness, diversification of investment, as well as liquidity. She added that it would act as a benchmark for PFAs to measure performance and report same to Retirement Savings Account (RSA) holders.

25

T H I S D AY • MONDAY, AUGUST 15, 2016

BUSINESSWORLD

MARKET REPORT

Stock Market Sheds N62bn on Continuing Investor Apathy Goddy Egene and Nosa Alekhuogie It was another bearish week for investors as the Nigerian equities market ended last week negatively shedding N62 billion. This followed persistent investors’ negative sentiments as weak economic activity continues to cast a shadow over future corporate profits. The market, which declined by 1.47 per cent the previous week, closed lower last week as the Nigerian Stock Exchange (NSE) All-Share Index (ASI) went down by 0.65 per cent to close at 27,246.88, while market capitalisation ended at N9.358 trillion.

Similarly, all other indices finished lower during, with the exception of the NSE Industrial Goods Index that gained 0.66 per cent while the NSE ASeM Index closed flat.

The NSE Consumer Goods Index recorded the highest decline of 1.5 per cent amid losses in Honeywell Flour Mills Plc (-10.7 per cent), Seven-Up Bottling Company Plc(9.3%), PZ Cussons Nigeria Plc (-7.7 per cent) and Nigerian Breweries Plc (-1.9 per cent). The NSE Oil & Gas and NSE Banking indices followed with 1.3 per cent and 0.6 per cent respectively. Profit taking in Oando Plc and Mobil Oil Nigeria Plc caused the decline in NSE Oil & Gas while losses in Diamond Bank and Zenith Bank Plc made the banking sector indicator to close the week lower. The Insurance index also eased 0.3 per cent. However, the NSE Industrial Goods rose by 0.7 per cent due to interest in Lafarge Africa Plc among others.

Daily Performance Summary When trading resumed on Monday last week, the Nigerian bourse sustained bearish momentum as sell offs in Nigerian Breweries Plc, Stanbic IBTC Holdings Plc and Flour Mills Plc pulled the NSE ASI down by 0.11 per cent to close at 27,394.98 points. Similarly, market capitalisation declined N10.6 billion to close at N9.4 trillion. However, activity level was mixed as volume traded declined 2.0 per cent and while value traded rose 0.3 per cent to 118.3 million units and N1.3 billion in that order.

In terms of sectoral performance, the Consumer Goods and Oil & Gas indices were the only declining sectors that shed 1.1 per cent and 0.5 per cent respectively. On the positive side, the NSE e Banking index led sector gainers, advancing 1.3 per cent, while the Insurance and Industrial Goods indices closed in the green, up 0.6 per cent and 0.2 per cent respectively.

The market extended losses to the second trading day as the NSE ASI 0.5 per cent to close at 27,272.14 while market capitalisation shed N42.2 billion to settle at N9.37 trillion.

The performance of the benchmark index was dragged by sell offs in Dangote Cement Plc (-0.6 per cent), Seplat (-3.2 per cent) and United Bank for Africa (-2.2 per cent).

The total value of stocks traded was N2.16 billion, up by 70.11 per cent from N1.27 billion recorded the previous day.. The total volume of stocks traded was 416.78 million shares in 3,443 deals.

The market witnessed the return on the bulls on Wednesday, as NSE ASI appreciated by 0.55 per cent to close at 27,421.83 points. The appreciation recorded in the share

prices of Nigerian Breweries, Stanbic IBTC, ETI, GTBank and Dangote Cement were mainly responsible for the rebound recorded by the market.

Activity level was mixed as volume traded dipped 6.1 per cent while value traded surged 57.1 per cent to close at 391.3 million shares and N3.4 billion. The surge in value traded was as a result of investors taking position in GTBank commanded 58.8 per cent of total market value on that day.

While it was expected that the rebound would be sustained, the market retuned to the bears’ territory on Thursday. The NSE ASI depreciated by 0.51 per cent to close at 27,280.95. Similarly, the market capitalisation depreciated by 0.51 per cent to close at N9.37 trillion.

The depreciation recorded in the share prices of Nigerian Breweries, FBN Holdings, Lafarge Africa, Zenith Bank and GTBank contributed to the bearish performance on that day.

Sustained investors’ apathy further depressed the equity market on Friday with the NSE ASI depreciating by 0.12 per cent to close at 27,246.88, just as the market capitalisation closed at N9.36 trillion. Price decline in the share prices of Nigerian Breweries, Nestle, Dangote Cement, Zenith Bank and Access Bank were mainly responsible for the loss recorded in the last day of the week.

in 16,070 deals compared with a total of 1.185 billion shares valued at N13.033 billion that exchanged hands the previous week in 18,548 deals.

The Financial Services Industry remained the most active, leading

Market turnover A further analysis of the market performance last week, showed that investors transacted 1.361 billion shares worth N10.711 billion

TOP TEN BROKERS(BY VALUE)

the activity chart with 1.237 billion shares valued at N7.913 billion traded in 9,544 deals, thus contributing 90.87 per cent and 73.88 per cent to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 46.182 million

AS AT LAST FRIDAY VALUE

% VALUE

RENCAP SECURITIES (NIG) LIMITED

BROKER

4,242,303,107.28

19.80

STANBIC IBTC STOCKBROKERS LIMITED PRIMERA AFRICA SECURITIES LTD FBN SECURITIES LIMITED

2,811,345,607.75 2,375,051,105.55 953,457,833.96

13.12 11.09 4.45

838,777,838.17

3.92

601,271,616.20 524,336,395.25 518,097,357.57

2.81 2.45 2.42

474,160,100.26

2.21

465,200,151.04 13,804,001,113.03

2.17 64.44

A.R.M SECURITIES LIMITED - BRD NIGERIAN INTERNATIONAL SECURITIES LTD VETIVA CAPITAL MANAGEMENT LTD INVESTMENT ONE STOCKBROKERS INTL LTD-BRD

EFCP LIMITED CHAPEL HILL DENHAM SECURITIES LTD - BRD

TOP TEN BROKERS

(BY VOLUME)

BROKER CORONATION SECURITIES LIMITED

AS LAST FRIDAY VOLUME %VOLUME 292,667,477

10.75

FBN SECURITIES LIMITED

227,300,977

8.35

RENCAP SECURITIES (NIG) LIMITED

221,753,159

8.14

EFCP LIMITED

170,226,422

6.25

MERISTEM STOCKBROKERS LIMITED

161,386,697

5.93

A.R.M SECURITIES LIMITED - BRD

143,832,059

5.28

STANBIC IBTC STOCKBROKERS LIMITED

134,303,508

4.93

PRIMERA AFRICA SECURITIES LTD

133,625,354

4.91

CORDROS CAPITAL LIMITED - BRD

84,511,272

3.10

80,884,773

2.97

1,650,491,698

60.60

CARDINALSTONESECURITIESLIMITED

shares worth N77.192 million in 637 deals. The third place was occupied by the Consumer Goods Industry with a turnover of 38.102 million shares worth N1.372 billion in 2,907 deals.

Trading in the top three equities namely – Wapic Insurance Plc, FBN Holdings Plc and Guaranty Trust Bank Plc, accounted for 666.721 million shares worth N5.064 billion in 3,205 deals, contributing 48.99 per cent and 47.27 per cent to the total equity turnover volume and value respectively. Also traded during the week were a total of 1.003 million units of Exchange Traded Products (ETPs) valued at N12.116 million executed in 43 deals, compared with a total of 11,383 units valued at N128,168.98 transacted in 48 deals two weeks ago. A total of 4,044 units of Federal Government Bonds valued at N4.062 million were traded in 6 deals compared to a total of 340 units of Federal Government Bonds valued at N370, 066.80 transacted the previous week.

Gainers and losers Meanwhile, the price movement chart showed that 18 equities appreciated in price last week, lower than 22 equities of the previous week.

Conversely, 38 stocks depreciated compared with 40 of the previous week, while 124 equities remained unchanged.

NPF Microfinance Bank Plc closed the week as the highest advancer, rising by 12.2 per cent. International Breweries Plc trailed with a gain of 5.2 per cent, while GTBank Plc, UACN Property Development Company Plc and A.G Leventis Plc added 4.9 per cent, 4.8 per cent and 4.3 per cent respectively.

Other top price gainers included: Wema Bank Plc (4.2 per cent); Lafarge Africa Plc (4.1 per cent); Law Union & Rock Insurance Plc (3.5 per cent); AIICO Insurance Plc (2.9 per cent) and Okomu Oil Palm Plc (2.8 per cent).

Conversely, CAP Plc led the price losers with 22.4 per cent, followed

by Sterling Bank Plc with 18.7 per cent. Diamond bank Plc went down by 13.8 per cent, just as Honeywell Flour Mills Plc and MRS Oil Nigeria Plc shed 10.6 per cent and 9.7 per cent in that order.

Other top price losers were: Berger Paints Nigeria plc (9.7 per cent); Seven-Up Bottling Company Plc (9.2 per cent); Flour Mills of Nigeria Plc (9.0 per cent); Transcorp (8.8 per cent) and Skye Bank Plc (8.5 per cent).

26

T H I S D AY • MONDAY, AUGUST 15, 2016

BUSINESSWORLD

INSIDE BROAD STREET STATUS REPORT

Standard Chartered Reiterates Commitment to Africa

A view of Lagos financial district

AKINWUNMI IBRAHIM

Investors Swoop on FGN Bonds Obinna Chima In the just concluded week, the OTC FGN bond market witnessed sustained bargain hunting as investors in the fixed income security pounced on instruments worth less than their prices.

This led to the appreciation in bond prices for all the maturities.

For instance, the 20-year, 10.00% FGN JUL 2030 bond appreciated by N0.61 (yield decreased to 15.23%);10-year, 16.39% FGN JAN 2022 paper gained N1.49 (yield fell to 14.81%); the 7 year,16.00% FGN JUN 2019 bond gained N1.15 (yield decrease to 14.93%); while the 5-year, 15.10% FGN APR 2017 paper rose by N0.42 (yield declined to 19.52%).

A report by Cowry Asset Management Limited showed that on the London Stock Exchange, traded FGN Eurobonds also appreciated on resumed bargain hunting activity as the 5-year, 5.13% JUL 12, 2018 bond and the 10-year, 6.38% JUL 12, 2023 bond lost $0.66 (yield fell to 4.26%) and $2.05 (yield fell to 6.40%) respectively.

This week, Debt Management Office will issue federal government bonds (all re- openings) worth N110 billion, viz: 5-year, 14.50% FGN JUL 2021 debt worth N40 billion; 10-year, 12.50% FGN JAN 2026 bond worth N30 billion; and 20-year, 12.40% FGN MAR 2036 paper worth N40 billion.

Analysts at the Cowry Asset Management anticipated that the stop rates would mirror last Primary market auction rates in line with CBN’s drive to keep rates high as incentive to attract Foreign Portfolio Investors.

Improved buying interest were also observed across the Sub-Saharan sovereign (SSA) Eurobonds as a result of appreciating commodity prices with year-to-date return at +7.2 per cent, buoying buy sentiments in emerging markets instruments.

Yields declined on all SSA sovereign bonds save for the South African 2017 which rose 0.5 per cent week-on-week.

Forex Market The liquidity crunch in the foreign exchange market continued last week as the nation’s

MARKET INDICATOR currency further depreciated week-on-week.

At the interbank, spot rate hovered between N312/$1 and N317/$1 from Monday to Thursday. The interbank spot rate closed at N332.07/$1 on Friday.

According to analysts at Afrinvest West Africa, compared to the preceding week, the naira/dollar exchange rate was less volatile at the parallel market, trading at N395/$1 all week save for Wednesday and Friday when it traded at N394/$1 and N397/$1 respectively.

Sentiments in the futures FX market also weakened last week as the one-year forward rate depreciated to N349.30/$1 from N345.42/$1 the preceding week.

“We believe the exchange rate will remain pressured in the interim until autonomous players return to the market to relieve the CBN of its role of major dollar supplies at the interbank. We are of the view that the depreciation of the naira, the reforms in the FX market coupled with current attractive yield environment should buoy foreign investor sentiment in Nigerian assets and aid the vital return of foreign capital to the market,” Afrinvest stated.

In view of the current macro-economic challenges in the country, the CBN last week announced that it has granted a one-off forbearance to banks this year to write-off their fully provided for non-performing loans (NPLs) without waiting for the mandatory one year.

The CBN stated that it acknowledged the request by banks to amend the requirements of S.3.21 (a) of the Prudential Guidelines, which mandates banks to retain in their records, fully provided NPLs for a period of one year before they are written off.

“The CBN has no intention of repealing the provision of the above mentioned section of the guidelines. In view of the current macroeconomic challenges, however, the CBN hereby grant a one-off forbearance this year 2016 to banks, to write-off fully provided for NPLs without waiting for the mandatory one year,” it stated in circular addressed to all banks.

In a related development, in view of what it described as the observed abuse of access to its Standing Lending Facility (SLF) by banks and other authorised dealers, the CBN last week also announced measures to correct the anomaly.

To this end, it directed all authorised dealers to refrain from accessing the discount window on the settlement date for government securities’ auctions. The securities referred to are CBN bills, Nigerian Treasury Bills and Federal Government of Nigeria bonds. It stressed that any violation of the directive would result in the denial of access to the SLF. Meanwhile, in a separate circular yesterday, which was in furtherance to its recent directive that banks that act as agents to approved international money transfer operators (IMTO) to sell foreign currency accruing from inward money remittances to licenced Bureau De Change (BDC) operators, the central bank yesterday fixed a maximum limit of $30,000 per week as what banks can sell to the BDCs. Also, in its bid to ensure that all Nigerian customers in the diaspora get their Bank Verification Numbers (BVN), the central bank in another circular, said it has re-opened the scheme. The enrolment for diaspora customers would now run from August 1st to December 31st, 2016.

Money Market The money market opened last week opened with aggregate system liquidity in negative N75.1billion. Consequently, Open Buy Back (OBB) and overnight rates remained in double digits (18.3 per cent and 19.4 per cent respectively) last Monday as a result of liquidity dynamics. The OBB and overnight however surged to 22.5 per cent and 24.8 per cent on Friday, up three per cent and 4.2 per cent week-on-week as the CBN mopped up N256.4 billion in an OMO auction at marginal rate of 18 per cent. Activities in treasury bills market were mixed. Average rate inched 0.1 per cent, up on Friday to close the week at 17.1 per cent (down 0.3% week-on-week). The auction was five times oversubscribed with bids ranging from 17 per cent to 18 per cent.

The stop rate at the auction was 18.0% and as a result all subscriptions were successful.

Standard Chartered Bank Nigeria Limited has reiterated the plans of the Group to step up investments and leverage its unique footprint and international banking expertise to drive growth in Africa and Nigeria.

The bank also stressed that it remains positive on Africa’s long term growth potential, with continued investment into areas of strength.

Through a new brand campaign, ‘Here for Africa’, the bank in a statement at the weekend reiterated its commitment to investing in Africa’s future, and continuing to support key growth sectors across local economies, including infrastructure, telecommunications, transport, retail and trade.

Under the bank’s refreshed global strategy, announced late last year, the bank had restated its heightened focus on Africa, seeking to grow its business across all markets, with a keen focus on corporate and commercial segments.

Standard Chartered operates across 38 African economies, 16 on a full-presence basis and 22 on a transactional basis. The bank’s footprint of 180 branches and outlets now has an extended reach, thanks to its continuous evolution of its digital platforms and mobile banking channels.

Speaking in Ghana at the Regional launch of the Africa-focused campaign, Regional CEO of Africa and Middle East, Sunil Kaushal said: “Africa is an integral and a valuable economic partner region within our unique footprint across the region, Asia and the Middle East. This campaign is about our show of commitment and confidence in a continent that we have been in for over 150 years.

“We consider ourselves truly African – every one of our Sub Saharan CEOs is African, our people who lead and manage our strategy are African, and our strategy is tailored to the suit Africa’s specific trends and business dynamics. We are indeed here for good and here for Africa.”

Currently, Standard Chartered supports over one million retail customers in Africa, and over 25,000 commercial, corporate and institutional clients.

In November last year, the bank committed to USD3 billion in strategic investments globally, over the next three years - a commitment which has already seen Africa benefiting with a multi-market upgrade of digital and mobile banking platforms.

Speaking at the launch in Nigeria, CEO Standard Chartered Bank Nigeria, Cameroun and Cote D’Ivoire, Bola Adesola said: “Today we launch our ‘Here for Africa’ campaign in Nigeria. Standard Chartered Nigeria continues to deliver tangible benefits to support local economic growth.

“These benefits include development of human capital; roll-out of digital banking solutions to more than 200,000 retail customers; sovereign advisory expertise and support as Sovereign Ratings Advisor to the federal government through the Ministry of Finance; attracting new investor capital from across Europe, US, Middle East and Asia, as well as empowering local entrepreneurs by bridging the gap between large multinationals and local suppliers through our successful supply chain financing proposition.

“All these initiatives help reinforce our legacy and aspirations to support the financial success of our clients while partnering with the government and Central Bank of Nigeria to build an economically stable environment for Nigerians.”

T H I S D AY MONDAY AUGUST 15, 2016

27

28

T H I S D AY • MONDAY, AUGUST 15, 2016

BUSINESSWORLD

INTERVIEW

Akabogu-Chinwuba: Nigeria, Côte d’Ivoire Can Drive W’African Economy In this interview, Nigeria’s Ambassador to Cote d’Ivoire, Mrs. Ifeoma AkaboguChinwuba, spoke on the first made in Nigeria Trade Fair being organised by the embassy in Abidjan, Côte d’Ivoire, and what both countries will benefit from the exhibition. Excerpts: What entitles one to participate in the trade fair? Are prospective attendees expected to formally register in order to attend the trade fair?

If you want to rent a stand, you will need to register. You could also go a step further by sponsoring so that your logo or message could feature in the Fair’s brochures. Visitors, buyers enter free.

What informed this first made in Nigeria exhibition or Trade Fair being organised in Abidjan, Côte d’Ivoire from September this year?

The Nigeria Embassy Abidjan is responding to President Buhari’s clarion call to diversify our economy and seek other sources of revenue to increase our national income.

We are facilitating the organisation of this Nigerian fair, to draw attention to the Nigerian businesses, to bring Nigerian economic operators to expand into Côte d’Ivoire.

Considering that the Nigerian economy has now slipped into recession, would participation in the trade fair by the Nigerian public and private sectors significantly contribute to the improvement of the Nigerian economy?

First, let me say that I do not think that the Nigerian economy has slipped into recession. It may be experiencing some hiccups and upsets. It will pick up again because it has been known to be resilient. In as much as participation will attract more visibility and more consumers of their products, we stand to gain from the Fair and improve our economic statistics.

Why is the Nigerian Embassy Côte d’Ivoire particularly interested in organising this important trade fair?

Côte d’Ivoire is the foremost Francophone economy and the second largest economy in our sub-region after Nigeria. Together, the two constitute the engine of economic growth in the Economic Community of West African States (ECOWAS). We think there are mutually beneficial gains to be made by bringing operators in the two economies closer together, and integrating our markets.

Who else can benefit from this trade fair?

If you have something to sell to the Ivorian public, come to the Fair. If you are a farmer, you want to learn about the cocoa, Palm, cashew, Banana export from the Ivorian farmers, come. If you want to invest in farming, come, we shall introduce you to operators in the produce sector so you compare notes. We have B2B sessions where we advise potential investors who want to enter the Côte d’Ivoire market.

Who are your co-partners in the organization of this trade fair?

There is a non-governmental organisation (NGO) that is partnering with the Nigeria Embassy to organise the Fair. It is called the Socio-Cultural Integration of African Youths Organisation (SCIAYO) for short and the Nigerians in Diaspora Organisation (NIDO) Côte d’Ivoire. We are inviting interested individual and corporate entities to partner with us to make this maiden outing a huge success.

Considering the theme of the Trade Fair: “Exploiting Commercial Potentials for a Durable Economy,” what are the expectations from this Fair?

At the end of the Fair, we would want economic operators in Côte d’Ivoire to source what they can from Nigeria and vice versa.

Instead of going outside the continent, let us engage in inter-African trade with each other in the spirit of South-South cooperation.

Moreover, there should be greater exchange of ideas, comparison of notes on best practices.

Nigerians could learn from Côte d’Ivoire, what has made it an agricultural power in order to accentuate our performance in that sector.

Are you saying that there are many business opportunities for Nigerian businessmen and investors in Côte d’Ivoire? Could you be more specific on such business opportunities?

It depends on your sector of operation.

Take tourism for instance; there is no reason why Ivorians and the other nationalities that live in Côte d’Ivoire (Lebanese, Moroccan, French, Senegalese etc) cannot travel to Nigeria’s holiday resorts and carnivals.

We have them aplenty: Obudu, Ikogosi Warm Springs, Zuma Rock, Olumo Rock etc. We need to sensitise the Ivorian public, let them know that these destinations exist.

Tour operators could propose packages. We already have daily flights from Abuja and Lagos to Abidjan. We have luxury buses plying the route. Why are there not more Tourist Packages between the two countries?

What of English books? There is a huge

Akabogu-Chinwuba demand for Nigerian titles. Booksellers will have a field day because Côte d’Ivoire is Francophone and there is a dearth of English books or people eager to learn this all-important international language.

What of real estate? There are over two million Nigerians in Côte d’Ivoire including international civil servants in African Development Bank (AFDB), Bayer, Nestle’, United Nations (UN) agencies etc. They could be looking to buy a dwelling place in Nigeria. So estate developers can come and show the options available. Nigerians seeking to buy holiday homes outside the motherland can invest here instead of going far where entry visa is an issue.

What of Universities? Come rent a stand at the Fair. Many young Nigerians want to further their education at home. Come and answer their enquiries.

We are to think outside the box now, to

examine non-traditional, non-oil sources of revenue. Come over and explore the possibility of exchanges here.

Furthermore, Nigeria produces vehicles, spare parts, machinery, plastics, cosmetics etc. These could find users in Côte d’Ivoire.

Who is eligible to participate in this trade fair?

Everyone is invited to visit either as an exhibitor or as an enquirer. You have something to sell? Bring it. You want the publicity provided by the Fair. Companies that are based in Côte d’Ivoire but seeking distributors in Nigeria will be there as well.

We expect a myriad of visitors. Air Peace Airline will there. Newspapers will also be there to take your advertisements and publicise your products and services in the two countries.

Can you name of some of the countries and companies expected to participate in this trade fair?

We have Reliable Steel based in Onitsha, Arik Air, Diamond Bank, MIXTA Africa, Gandour Cosmetics, etc. They are so many.

More are still registering. The good news is that we have enough space to accommodate all interested parties.

The Nigeria Embassy in Abidjan is at your disposal to educate you, answer your questions and help you navigate into the Côte d’Ivoire market. Please come in your numbers.

Take advantage of this opportunity. I should point out that the Nigeria Embassy has been taking part in trade fairs in Abidjan, all in the spirit of Economic Diplomacy. In March, we mobilised Nigerian businesses in Côte d’Ivoire to come together and collectively rent a Nigeria Stand. The various Nigerian banks and companies were active- Diamond Bank, Guaranty Trust Bank, United Bank for Africa, Arik Air, Dangote Group, etc. Nigerian SMEs were given space free of charge to exhibit.

In April, the embassy also took a stand at the Abidjan International Book Fair where we exposed over one hundred books written

by Nigerian authors. Nigerians have won laurels internationally and locally so there is a treasure house of our books waiting to be discovered by Francophone bibliophiles.

I could go on and on. The parting shot is: let us support President Buhari’s drive to diversify our economy. It is imperative now.

Let each in his way, contribute to that effort.

Let us support one another’s initiatives in this regard. From that perspective, we are waiting for you all at the Nigeria Fair, Abidjan, 2-6 September, 2016.

T H I S D AY MONDAY AUGUST 15, 2016

29

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MONDAY AUGUST 15, 2016 T H I S D AY

RETURNS ON UTILIZATION OF FUNDS SOLD TO CUSTOMERS FOR THE WEEK ENDED FRIDAY FRIDAY 12-AUG-2016

(XXV)

PUB: 0812816 SN

CUSTOMER

ITEM OF IMPORT

1 2 3 4 5 6 7 8 12 14 15 16 17 18 19 20 21 22 23 24 25 27 29 30 31 32 36 37 38 40 41 42 43 44 47 48 49 50 51 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120

TAMAR & PHAREZ NIGERIA LIMITED PROCURE TAMACLAV INJECTION-1.2GM & BETA-T INJECTION A.A. RANO NIGERIA LTD IMPORTATION OF AGO WYNCA SUNSHINE AGRIC COMPANY AGRICULTURAL HERBICIDE (SUNPHOSATE 360 SL) GMT NIGERIA LIMITED WHITE SODIUM LAURYL SULPHATE PTA INVISIBLES PTA INVISIBLES PTA INVISIBLES INT TOWERS LIMITED INVISIBLES GMT/UNILEVER NIG ANTIFOAM COMPOUND GMT/UNILEVER NIG TEXAPON OCN UL 25KG 5M2 (GALAXY 789) GMT/UNILEVER NIG DIAMOND HEAD SUPER V2 GMT/UNILEVER NIG T- BLEND SAVINASE EVITY/STAINZYME/LIPEX/MANNAWAY GMT/UNILEVER NIG DIAMOND HEAD SUPER V2 AND SOLAR SPRITE GMT/UNILEVER NIG DEHYDRATED WHITE ONION POWDER-IRRADIATED GMT/UNILEVER NIG MONOSODIUM GLUTAMATE GMT/UNILEVER NIG KENYAN BLACK TEA GMT/UNILEVER NIG NEW POLYWOVEN BULK BAGS WITH LINER GMT/UNILEVER NIG MONOSODIUM GLUTAMATE GMT/UNILEVER NIG MONOSODIUM GLUTAMATE GMT/UNILEVER NIG WHITE SODIUM LAURYL SULPHATE GMT/UNILEVER NIG MONOSODIUM GLUTAMATE GMT/UNILEVER NIG WHITE HAZE UN MIXTURE OF ODORIFEROUS GMT/UNILEVER NIG ICON 450ML CAPS GMT/UNILEVER NIG TURMERIC POWDER STEAM STERILISED, FENUGREEK POWDER STEAM STERILISED GMT/UNILEVER NIG TURMERIC POWDER STEAM STERILISED, FENUGREEK POWDER STEAM STERILISED GMT/UNILEVER NIG WHITE SODIUM LAURYL SULPHATE GMT/UNILEVER NIG FLV CHICKEN ROAST WHITE MEAT GMT/UNILEVER NIG FLV CHICKEN ROAST WHITE MEAT GMT/UNILEVER NIG BEEF BOILED FATTY FLAVOUR POWDER GMT/UNILEVER NIG OPTAMINT GMT/UNILEVER NIG OPTAMINT GREEN PARADISE GMT/UNILEVER NIG DRIED PARSLEY LEAVES GMT/UNILEVER NIG DRIED PARSLEY LEAVES GMT/UNILEVER NIG PRIFEX 123 HYDROGENATED INGREDIENTS GMT/UNILEVER NIG BEEF BOILED FATTY FLAVOUR POWDER GMT/UNILEVER NIG DOUBLES KNORR CUBES CHICKEN 8G-4 LANES GMT/UNILEVER NIG DOUBLES KNORR CUBES CHICKEN 8G-4 LANES GMT/UNILEVER NIG DOUBLES KNORR CUBES CHICKEN 8G-4 LANES GMT/UNILEVER NIG BLANOSE CMC 9H4XF-U BAG GMT NIGERIA LIMITED Payment for BIC DOUBLE EDGE BLADE, RAZOR BIC 1 SENSITIVE BULK INT TOWERS LIMITED INVISIBLES DIGITAL HEALTH CARE PAYMENT FOR DRUG DIGITAL HEALTH CARE PAYMENT FOR DRUG OANDO MARKETING PLC CHARGES OANDO MARKETING PLC CHARGES PTA INVISIBLES INT TOWERS LIMITED INVISIBLES OLABODE DELE TAJUDEEN INVISIBLES BISONG FRANCIS EBUTA INVISIBLES OTROFANOWEI ELAYE INVISIBLES OTROFANOWEI ELAYE INVISIBLES OSASU SHINE OTOMEWO INVISIBLES SAMUEL ABEL IHEANAETU INVISIBLES OLUWATOSIN ISAAC AYODELE INVISIBLES WUSU FELIX AYOOLA INVISIBLES SAMUEL IHEANAETU ABEL INVISIBLES PAKRIS ENERGY LIMITED INVISIBLES OGUNNIYI FEMI GIDEON INVISIBLES IKWUOBE SUSAN ELEGWUM INVISIBLES MOHAMMED IQBAL JAVID HUSSAIN INVISIBLES MUHAMMAD MUHAMMAD AUWAL INVISIBLES NKECHI AUGUSTINA AMAECHI INVISIBLES HABILA MARTHA INVISIBLES NNODULU OGOCHUKWU AUGUSTA INVISIBLES ECOBANK NIGERIA LIMITED INVISIBLES AKPAN BLESSING MICHAEL INVISIBLES MUSA KENNEDY GRACE INVISIBLES ADIGUN PETER YINKA INVISIBLES GRAHAM DOUGLAS DIVINE INVISIBLES ENENTA CHIJIOKE EDWARD INVISIBLES STEFF OIL NIG LIMITED INVISIBLES OKWULEHIE ORABELEMA NMERI INVISIBLES FATOLA OLADIMEJI MATTHEW INVISIBLES FATOLA OLADIMEJI MATTHEW INVISIBLES AUSTINE O IKOLO & CO INVISIBLES UTIN BASSEY EDET INVISIBLES WILSON JOSIAH IJU INVISIBLES UZOWURU IJEOMA JULIET INVISIBLES MR. VAIKOSEN JOHN INVISIBLES OSITA SILAS EZEH INVISIBLES ECHENG ENYA EWORO INVISIBLES OLAOYE HANNAH CHIDIEBERE INVISIBLES CHARLES IRECHUKWU INVISIBLES ADIELA ADINIMMACHUKWU GOODLUCK INVISIBLES TENECE PROFESSIONAL SERVICES Ltd INVISIBLES ETUK CHRISTOPHER EFFIONG INVISIBLES ONOJOSERIO SUNITA INVISIBLES ODIBA JOY IGANYA INVISIBLES NKEM VINCENT INVISIBLES EFFIONG WINIFRED INIOBONG AKPABIO INVISIBLES MRS HELEN KOMOLAFE INVISIBLES SCC NIG LTD INVISIBLES MOSES EFFIONG EKPENYONG INVISIBLES BONGO BAMAIYI LADINI INVISIBLES ADEBOWALE ADEWALE INVISIBLES PROF. STANLEY NARIBO NGOA INVISIBLES ODE FOLASHADE OLUBUNMI INVISIBLES ODE FOLASHADE OLUBUNMI INVISIBLES ARIK AIR LIMITED INVISIBLES ARIK AIR LIMITED INVISIBLES ECOBANK NIGERIA LIMITED INVISIBLES ONAH KENNETH IKENNA INVISIBLES CHIMA-NWAFOR JOHN INVISIBLES SONAIYA EBENEZER INVISIBLES OLALI NUMOMDOGIYO DIEPREYE (ENGR) INVISIBLES DR ADEDOTUN POPOOLA INVISIBLES ONYEKEZINI INNOCENT CHIBOGWU INVISIBLES

DATE OF FUND PURCHASE 8-Aug-16 8-Aug-16 8-Aug-16 8-Aug-16 8-Aug-16 8-Aug-16 8-Aug-16 8-Aug-16 8-Aug-16 8-Aug-16 8-Aug-16 8-Aug-16 8-Aug-16 8-Aug-16 8-Aug-16 8-Aug-16 8-Aug-16 8-Aug-16 8-Aug-16 8-Aug-16 8-Aug-16 8-Aug-16 8-Aug-16 8-Aug-16 8-Aug-16 8-Aug-16 9-Aug-16 9-Aug-16 9-Aug-16 9-Aug-16 9-Aug-16 9-Aug-16 9-Aug-16 9-Aug-16 9-Aug-16 9-Aug-16 9-Aug-16 9-Aug-16 9-Aug-16 9-Aug-16 9-Aug-16 9-Aug-16 9-Aug-16 9-Aug-16 9-Aug-16 9-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16

EXCHANGE RATE

AMOUNT

306.56 315.56 320.50 320.50 320.50 311.56 316.87 322.50 319.00 319.00 319.00 319.00 319.00 319.00 319.00 319.00 319.00 319.00 319.00 319.00 319.00 319.00 319.00 319.00 319.00 319.00 319.00 319.00 319.00 319.00 319.00 319.00 319.00 319.00 319.00 319.00 319.00 319.00 319.00 320.50 322.50 306.56 308.33 308.50 307.16 319.41 322.50 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 307.16 308.33 310.00 310.00 310.41 312.50 316.16 316.16 316.16 316.16 316.16

27,861.20 6,547,500.00 396.80 98,982.89 11,999.39 6,620.80 189,999.92 625,000.00 31,550.00 43,670.00 198,206.00 97,046.00 197,731.00 167,280.00 503,026.92 217,469.63 25,253.95 177,030.00 178,651.62 87,950.00 177,030.00 76,837.00 36,458.10 47,700.00 36,750.00 81,900.00 139,444.95 139,444.95 174,652.83 139,423.17 34,063.62 42,471.74 42,471.74 82,263.82 47,540.73 350,044.07 350,044.07 350,044.07 66,856.79 2,629.21 64,374,888.00 10,000.00 3,891.45 200,000.00 166,234.89 15,996.87 5,000,000.00 3,480.84 1,830.11 1,386.30 1,386.30 1,122.89 764.89 1,484.44 1,332.70 764.89 1,451.45 350.00 1,000.00 1,300.00 1,200.00 1,500.00 1,000.00 1,315.00 2,326.77 1,310.00 1,350.00 1,386.00 1,340.00 1,315.00 1,562.38 1,300.00 800.00 300.00 500.00 600.00 1,800.00 1,632.00 800.00 555.55 1,632.00 1,161.11 1,315.00 1,632.00 40,000.00 940.55 330.00 1,100.00 1,200.00 1,300.00 1,500.00 1,556.00 1,600.00 1,600.00 3,500.00 6,793.00 721.74 1,278.26 380,000.00 120,000.00 10,933.00 142.62 1,957.97 8,294.29 27,516.66 2,811.14 1,615.27

SN

CUSTOMER

121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147

INYANG WINNER OZOEZE JULIUS UNEBUIKE EMODI HELEN NONYELUM MR EDIKAN ESHETT ESHETT OMEH SAMUEL IFEANYICHUKWU-ASO JOY IFEANYICHUKWU-ASO JOY ALIOGO PETER NKECHUKWUYEM EZUMEZU GLORIA CHINYERE TSADO KOLO MOSES OLADEYE STELLA ONOME ONOJETAH PRUDENCE OMOTEJOMO OVWAGBEDIA ELIZABETH AMINU BELLO DAN ABU IDOKO ANDREW TASIE FABIAWARI OKAONU IBANI ROMOKERE ONAH KENNETH IKENNA DEE-LITE NIGERIA LTD GODREJ NIGERIA LIMITED PTA JIGAWA STATE SLOGOR DRAW DOWN ADENIRAN ODUOLA PTA GODREJ NIGERIA LIMITED DE UNITED FOODS INDUSTRIES LIMITED PTA

ITEM OF IMPORT

INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES INVISIBLES TIARA INSTANT FLAVOUR DRINK ORANGE, MANGO MEDICATED COMPOUND 46422 INVISIBLES INVISIBLES INVISIBLES INVISIBLES MEDICATED COMPOUND 46422 AJINOMOTO MONOSODIUM GLUTAMATE 99 PLUS PERCENT PURE FINE CRYSTAL INVISIBLES

DATE OF FUND PURCHASE

EXCHANGE RATE

10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 11-Aug-16 11-Aug-16 11-Aug-16 12-Aug-16 12-Aug-16 12-Aug-16

316.16 316.16 316.16 316.16 316.16 316.16 316.16 316.16 316.16 316.16 316.16 316.16 316.16 316.16 316.16 316.16 316.16 316.16 311.49 320.50 316.16 304.00 317.50 313.00 308.33 320.50 317.50

AMOUNT

5,078.12 2,780.09 7,653.10 10,556.00 1,655.97 11,176.00 9,756.00 13,000.00 1,350.00 10,407.00 6,271.00 8,400.00 10,000.00 200.00 800.00 3,100.00 4,100.00 857.38 46,488.00 10,000.00 3,994.86 9,000.00 6,195.39 3,958.50 3,174.66 48,024.97 4,000.00

RETURNS ON SOURCES OF FUNDS SOLD TO CUSTOMERS FOR THE WEEK ENDED FRIDAY FRIDAY 12-AUG-2016 SN

SOURCE

DATE OF FUND PURCHASE

EXCHANGE RATE

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS OTHERS

8-Aug-16 8-Aug-16 8-Aug-16 8-Aug-16 8-Aug-16 9-Aug-16 9-Aug-16 9-Aug-16 9-Aug-16 9-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 10-Aug-16 11-Aug-16 11-Aug-16 11-Aug-16 12-Aug-16 12-Aug-16 12-Aug-16 12-Aug-16

318.50 310.99 309.91 315.06 322.00 315.00 309.91 306.66 320.00 322.00 320.00 303.50 309.50 320.78 322.00 325.00 306.66 308.00 303.50 320.00 305.75 309.09 310.00 312.00

TOTAL AMOUNT AVERAGE AMOUNT

AMOUNT 6,231,747.35 54,665.00 100,000.00 6,547,500.00 625,000.00 4,987.30 10,933.00 276,857.34 91,000.00 64,374,888.00 164,375.00 20,000.00 500,000.00 164,797.56 5,000,000.00 180,000.00 6,805.73 94,894.74 520,000.00 82,845.00 30,000.00 16,500.00 10,000.00 103,100.00 85,210,896.02 3,550,454.00

31

T H I S D AY • MONDAY, AUGUST 15, 2016

BUSINESSWORLD

PERSPECTIVE

United Front against Illegal Shipping Charges Francis Ugwoke writes that the various levies imposed on shippers have become a major source of concern for not only the Global Shippers Forum, but countries involved in international trade Nigeria is currently facing economic crisis that has impacted negatively on trade. The crises are from different fronts. The poor returns from crude oil sales are being worsened by the NigerDelta militancy with pipelines being destroyed on regular basis in recent time. With depleted foreign reserve, international trade is no longer what it used to be for Nigerian businessmen.

The effect is that importers of trade goods under the 41-items list have to source foreign exchange from the black market or anyhow to remain in trade.

Even manufacturers who enjoy government patronage and are covered by the banks in sales of foreign exchange are not left out.

With the fluctuation of foreign exchange rate and calculation of import duties on the prevailing market rate, business is also no longer easy for anyone, including consumers who have to pay for goods at exorbitant prices.

Shipping Trade and GSF Beyond the sad scenario painted above is yet a major challenge posed by international shipping agencies in the name of liner conferences that are bent on profit maximisation. Members of the liner conferences who are mainly shipowners impose various surcharges on shippers. This issue is again worsened by the service providers at various local countries, including Nigeria, where other surcharges of similar nomenclature are imposed on shippers. The various challenges have been a major concern for every country involved in international trade. Worried about this trend, members of the Global Shippers Forum, GSF, recently met in Colombo, SriLanka to discuss the issue and proffer solutions. GSF represents shippers’ interests drawn from respective organisations of Asia, Europe, North and South America and Africa. The main focus of the GSF is to facilitate trade by ensuring that international freight, policy decisions of governments and international organisations as they affect shippers and receivers of freight are affordable. GSF is dominated by shippers’ councils of every maritime nation, including African Shippers Forum, ASF, led by Dr. Emmanuel Kofi Mbiah, who is also the Managing Director of Ghana Shippers’ Authority, GSA. At this year’s conference in Colombo, Nigeria was represented by the Nigerian Shippers’ Council, NSC. Other African maritime nations were also represented by their shippers’ councils. Among the reasons why Nigeria and other African nations joined GSF was mainly to ensure that their shippers are saved from

Executive Secretary, Nigerian Shippers’ Council, Mr Hassan Bello

some shylock liner conferences who would take advantage of any situation to impose illegal surcharges on traders. Many times, the NSC had reached out to interest groups using its influence in the Forum to resolve cases affecting Nigeria’s trading interest. This has often checked the gang up against Nigeria on several claims of terrorism, piracy, armed attacks on ships or what is happening in the Gulf of Guinea, or Niger Delta, to raise high charges on shipment to Nigeria by liner conferences of different continents.

With very strong global platform, the Forum has a lot of influence in addressing issues affecting shippers economically.

With strong influence in the International Maritime Organisation, IMO, liner conferences of various continents, the Forum has impacted positively in addressing issues affecting trade facilitation globally. For each country’s Shippers’ Council, the Global Forum can take up any issue affecting trade, no matter where the problem is coming from, either from the exporting country, liner conference, shipowner or the shipping company and resolve.

Each country’s Shipper’s Council as a member of the Forum enjoys such privilege to resolve trade disputes which affect a group or groups of shippers of any country. For the NSC as an economic regulator, the GSF is like the International Maritime Organisation, IMO. GSF plays an important apex role that is beneficial as it is protective of shippers globally in what the Council stands for in relation to Nigerian shippers who are involved in trade all over the world. A director with the NSC, Azuka Ogo, explains that the Council has remained a member of the Forum to be able to

champion international trade interests affecting individual shippers or the nation in her trade interests.

Illegal Surcharges and GSF intervention At the GSF meeting in Colombo, Sri-Lanka, recently, it was clear that trade issues were the same in most trading countries. The concerns raised by members, including Hongkong, Nigeria, Ghana, among others, were on surcharges and terminal handling charges by both shipping lines and terminal operators. The worry was that these surcharges and terminal handling charges by shipping lines and terminal operators in various countries have impacted negatively on international trade.

In Asia-Europe, the concerns of shippers were that surcharges made them to exceed contracted prices for shipments. This, they complained makes management of total shipping costs unpredictable for the owners of cargo. Other participants expressed worry that what was more annoying was that the illegal charges cannot be substantiated by the service providers. For Honk Kong, the shippers were not left out. The Hong Kong Shippers’ Council executive director, Mr Sunny Ho, described the terminal handling charge in his country as the highest in the world.

Hu identified other charges as Amendment for the Manifest which he said has risen to $250.

He also said documentation charge has nearly doubled in recent time. He also criticised the freight forwarders, saying that it was unfortunate that they have been left unchecked.

The story was the same for shippers from the West and Central African countries who were at the conference. Nigeria, Ghana,

Republic of Benin, Cameroun, among others who were represented by the Shippers’ councils had similar stories to tell. Nigeria’s Head of delegation to the Forum, Azuka Ogo, a lawyer and Director with the NSC, gave an account of the various efforts by the Council to check terminal operators and shipping lines in Nigeria from introducing unapproved charges. She told the Forum the terminal operators and shipping lines in Nigeria took the Council to court as a result of its decision to stop some of the charges introduced by them. She argued that the Shipping Line Agency Charges, SLAC which is one of the charges in contest does not relate to any service, adding that some of the illegal charges were responsible for the diversion of cargoes meant for Nigeria to neigbouring countries. Ogo also said that the service providers have also joined other top Nigerian government officials in the court action. She told the GSF that Nigeria had recently in an effort to bring about efficiency in the ports system launched the Standard Operating Standards, SOPs, involving every agency of government and all providers and consumers of shipping services. Ogo also disclosed that Nigeria equally launched the Port Service Support Portal (PSSP) to check corruption and other unwholesome practices by service providers at the nations’ ports, explaining that the PSSP is portal where any agency or shipper/individual can send their complaints to be addressed by the Nigerian Shippers Council.President, Shippers Association Lago State, Rev. Jonathan Nicol who also attended the meeting said the activities of the providers of shipping services have

impacted negatively on trade.

He said that while the big multinational agencies observe trade laws in other countries, they have deliberately remained different in Nigeria.

Nicol said Nigeria has as a result of high cost of doing business in its ports and illegal charges traced to the service providers lost about 70 percent of her cargo to neigbouring countries. He accused the service providers of deliberately frustrating the NSC as a regulator in the system to render the Council impotent.

Nicol urged the GSF to continue with its campaign to end sharp practices affecting trade all over the world , particularly in West and Central African sub-region. He called on the GSF to invite some of the affected companies to a roundtable where they can be told to be fair and transparent in their trade.

Chairman, Union of African Shippers’ Council, Dr Emmanuel Kofi Mbiah in his contribution identified port congestion surcharge and terminal handling charge in his country as unjustifiable. Mbiah said the terminal handing charge was between $140 and $155, adding that the terminal handling charges do not apply in any of the charges being imposed by the service providers. He disclosed that charges were simply being introduced as a response to slump in shipping trade.

Resolution on Surcharges At the last Annual General Meeting, AGM, the GSF took farreaching decisions as part of the efforts to check conference liners and terminal operators from introducing illegal surcharges.

Some of the decisions remained confidential among members.

But part of the decisions was to seek the intervention of the World Trade Organisation, WTO and United Nations Conference on Trade and Development, UNCTAD. The GSF strongly believes that both UNCTAD which is a principal organ of the United Nations General Assembly dealing with trade, investment, and development issues and WTO have a diplomatic way in which they can compel international shipping lines and terminal operators to put an end to illegal charges in various countries. In China, it was reported during the GSF meeting that shipping lines have cancelled some of the charges as a result government intervention.

GSF used the opportunity of this development to appeal to governments of member states to join in making strong moves to stamp out illegal surcharges because of the negative effect on CONTINUED ON PAGE 35

32

T H I S D AY • MONDAY, AUGUST 15, 2016

BUSINESSWORLD

INTERVIEW

Badmus: FG Should Encourage Long-term Repayment Plans for Agriculture Credit Chairman, Tuns Farms Nigeria Limited, Mr. Olatunde Badmus, in this interview with James Emejo, spoke on how to better reposition agriculture to support government’s drive for self-sufficiency. Excerpts: Sir, can you share your experience of the poultry sector of the Nigerian economy, having being an active player for almost three decades?

Well, it has been a wonderful experience because it has not been easy; the beginning has not been very easy. My actual experience was from the reportorial of being a journalist to also being a farmer in the poultry sectors.

I started with buying and selling electronics equipment to some of the broadcasting stations in the country. The government policy drives the economy, it was then, when the Babangida administration now ruled that before you can have an import license , just like when we have the scarcity of foreign exchange, we said before you can access foreign exchange or import anything, you must have a farm-and that was the policy then. So I was so anxious and desirous of- I have to just acquire some lands and begin to farm. You have to attach your C of O and any other document in getting the import license to import electronics.

But as God would have it, instead of giving me an import license to import electronics, I was given an import license to import agricultural materials which I didn’t know anything about: so when I reported that I was giving an import licence to bring in what is known as concentrate; this is concentrate used in compounding animal feed. I was given a licence also to bring some disinfectants like izal or chemicals for agricultural input. So since I didn’t have any other job, I had to import all those things, that’s what I had an import licence to bring in to the country. And bringing them into the country I didn’t have a ready- made market, but the farm which I put up, I planted maize. Somebody now said look, if you have planted maize, you have concentrate, what you need to do now is begin to produce live stock feed, which I started producing and the other chemicals I have to sell at a loss because that has not been my line.

But irrespective of selling, I got some machine locally fabricated and started milling feed, and in those days also when you deliver the feed you have to sell on credit and at times some people will come to you to say, oh your feed is not good , it has killed my bird and that was what also led me to have the birds, since I had the feed, I had the premises and that was how I started poultry farming. And the poultry farming started with egg production, from egg production, I then now specialised in the meat production.

And all along that has been the case. But, again, the imported chicken from all sort of world came in and most of the farms were closed down.

But as God would have it I was made the president of the poultry association at that time. It has to be a coincident during the time of General Olusegun Obasanjo who happened to be a poultry farmer and also knew what the poultry farmer has gone through. It also coincided with the appointment of Chief Audu Ogbe who also was the chairman of the party then, who also was involved in the poultry farming then and knew what it was to have imported chicken into the country.

So all along we were able, the combination of those three we were able to revive the poultry sector to what it is today. Otherwise the fact that every farm had already closed down; you have imported chicken, you have imported eggs into the country- in fact the feed

Badmus was also imported , the drugs and vaccines, everything you can think of in that sector was also imported so it actually affected the economy then. But before the administration of Obasanjo left, we were able to save some money in terms of importing most of what we normally imported at that time. So in the day-old chicks for instance, we had hatchery...

So we were able to stabilise at that time and to the extent that what we import in the poultry sector today is minimal because it is only the premix, the amino acids and the vitamins that we import, while all others are locally sourced, except the machinery which we have not started producing, but at least with the feed mill, we have some local fabricators who can produce it well. So in terms of sector that have been able to conserve the foreign for Nigeria, the poultry sector is number one in every sector of agriculture as of today.

So how much of poultry products, particularly eggs are still being imported into the country as of today?

Well, it was bad during those days, the poultry sector was going so bad because they allowed under the so called minister of investment, who does not know anything...

When you say minister of investment, he will then go back and say look, can you bring your products to Nigeria and sell, we’ve signed a bilateral agreement-and he’s killing jobs here locally and you are empowering them outside there and killing Nigerian jobs. So

we had all sorts of junks into the country.

It’s not that Nigeria cannot compete with any other producer in the world but what we are saying is that you bring it under the same condition as what is applicable locally.

Food is not something that you can just dump into the country, it has to be certified and check by agencies like NAFDAC wherever you produced it.

But in all cases there is no trace of NAFDAC certifying all those chicken that’s been imported through Cotonou and other borders- they are all smuggled into the country.

So, to be specific, the last administration was so bad for the country but this time around, things are now getting better. We don’t have much of these imported chickens that is also injurious to your health, because it’s cancerous.

Chickens produced here will last you for close to one week or so because they are freshly produced, but the ones produced over there are the ones you need to use chemical to preserved and you can imagine it coming through the sea. If you perceived the odour of the sea, you will know that what you are consuming is so bad and when you now see where it’s being stored in the Cotonou boarder there, it’s worse. It’s only God that has been saving us. That partly explains why Nigeria in the past knew nothing like cancer; who knows, most of us hospitals now are treating cancer patients because of what we eat.

So if the country has managed to attain self-sufficiency in poultry produce, do we presently have the quality and capacity for export?

Not for now; because of the last administration’s policy on investment, we’ve a lot of chicken and eggs dumped into the country, and that made a lot of the producers to reduce production. But we are now producing up to about 50 percent or 70 percent of what we have. In fact, it should have been much better than this but because of the price of the maize and the competition between the poultry farmers and human consumption which is so high now-the price of maize is so high which is also a blessing because it’s good for the maize producer so that a lot of people can go into maize production as the price is good for them. It’s not competitive in the international market, because of the demand, and demand will continue be on the high side but at the same time the maize producer should not be thinking about 200,000 percent profit- in the past,we’ve being at a loss, but it’s an opportunity for them.

So for now the focus is to produce for local consumption and also be competitive so that if tomorrow we have a government policy that will say chicken should come into the country, we match competition-but we agreed that if chicken would come into the country, it has to be a healthy chicken and CONTINUED ON NEXT PAGE

33

T H I S D AY • MONDAY, AUGUST 15, 2016

BUSINESSWORLD

INTERVIEW

BADMUS: FG SHOULD ENCOURAGE LONG-TERM REPAYMENT PLANS FOR AGRICULTURE CREDIT not the ones being preserved by chemical that will be injurious to the health of Nigerians.

Given the efforts of the present administration to diversify the economy into agriculture and other key sectors, does the Nigerian poultry market have the ability to export products to other countries?

In terms of quality, we have some of us who have been certified internationally to produce. Take for instance, my own farm and one other farm in the country are the only certified company that can produce for KSP and other international companies in this country. It is not every producer of chicken that can supply them because we are subject to a bi-annual audit by international auditors-and whereby my own farm came first in the whole of Africa , so you can imagine , with that if I can produce enough, it means I can sell my chicken anywhere in Africa. So you can imagine, it means if I can produce enough, it means I can sell my chickens anywhere in Africa.

The other farm has also that potential to produce and supply in Africa because by the reasons we were given, they have a standard, African standard, European standard and American standard- so the specification of what a standard should be in Africa, we have two of us in Nigeria that are qualified that.

So in the issue of exporting-we still have a lot of job opportunities for our people in Nigeria here because from what we are producing, in Europe for instance, and in some farms in America they process about 30 million chicken on weekly basis, can you compare it with my own, this is only about 700,000 in a month. We actually have the potentials that if we want to produce two or five million in a month, we have that but you know, the capital, the monetary aspect and the interest rate. The bank interest rate cannot support that, you also look at the other conditions like the electricity, the water, everything you want to produce, you have to make sure you have all these things by yourself in your farm unlike Europe where everything is always ready there. But here, you have to have your own electricity, borehole, treated water plant, you have to have everything and while you now talk about the cost of funds. Until when we have all these things in place, the target now is to produce locally and create job opportunity for people.

On the egg we are not anywhere near the target, and that’s why the federal government felt there’s a need also to promote the egg aspect of the poultry sector.

And in the poultry sector, let me tell you, we have many sectors, we have the feed, we have the day old chick, we have the processed chicken or something like that. The feed as of today Nigeria can produce the feed requirement for the whole of Africa in terms of the plants we have but it requires maize which we cannot meet up for now. It requires soya but as to the plants and machinery, we have that enough on ground but raw materials that will go with it and the cost of funds that will support that material is what is missing.

So as far as the poultry sector is concerned the sector is ready but there are other side effects that have to join. So if tomorrow we have to produce enough maize for Nigeria, Nigerian feed milers can supply the whole of Africa their requirement.

On the day old chicks, there was a time we were extending our sales to West African countries. When I was the president of the poultry farm association, I was encouraged by the former President (Obasanjo) to go to West Africa and market our day old chicks but unfortunately, the condition given to us was that most of their poultry products are tied down to grants either from French...because when the French found out that if they had surplus production, they now give it to these their French countries as a grant, and then the Brazilians were trying to come into the market, then the Americans in Ghana-they made sure that they gave them a grant which was about a ship load of chicken for them also to sell and use in the developing their country. But after selling and after giving them that grant, then the subsequent ones were imported from here. So, they were looking at us as the giant of Africa to also compete with Americans and the French which we didn’t have the capacity to do, but in terms of day

Badmus old chicks we had enough machinery, we had the grandparents stock that can supply the whole of West African countries.

Obviously, lack of affordable funding is a major constraint to the expansion of the poultry sector. What alternative financing sources to you currently have and how would you advice government?

The federal government has tried its best; they have about N550 billion intervention funds from the Central Bank of Nigeria (CBN) now. It’s not only for rice production, it’s meant for all the agricultural sector, but the problem is that the bank has to discuss and in disbursement, the bank will require certain of collateral from the customer. The federal government has done what they are supposed to do internationally by providing a window level for that but at the same time when the federal government gave the banks this money; they write it against the bank. So the banks again will claim that this money belongs to them, but the money is meant to service their customers.

In doing that, I think some banks need to go through some orientation and the CBN also has asked the banks to have an agric desk which most of them are complying with now. In the past they didn’t take it serious, the agric desk is just a window dressing and window dressing agric desk will not help you in any way, so they are compelled now to have an agric desk which most of them are doing now.

Essentially, the leadership of the banks still need to go into some sort of orientation because they don’t believe in agric, they believe it’s so risky-that it takes years for you to have permanent what it has taking you so many years to build, they have to support and build. They also claim that in the past the funding given to them was for a short-term but this one is not a short term and If also the federal government can extend some of this funds to twenty years.

My first recommendation will be that the intervention fund from the CBN should be made ten or fifteen years. That will give the banks comfort to now lend to the real sector of agric. Take for instance, no bank will take interest in lending to the farmer who just wants to plant or want to have a farm. They will be interested in other sector of agric, like me now producing chicken and sell it to any restaurant, the restaurant will just put oil and fry the chicken and take money; even before you buy the chicken from the restaurant they take money from you. So, the banks will prefer to lend money to the restaurant than you that will grow the chicken because they know that money is coming on daily basis.

So for me, agricultural loan tenure should be for ten to fifteen years to allow failure and success because it is not automatic.

My state for instance, took money and said Mr. A, I have N350 million to develop poultry farmers in Osun; he gave N350 million-no interest-and said, look, I want the money back in four years. And after the first year, he found that the programme was so successful, he now increased the number of day-old Chickens to be given to the farmer from one hundred to two hundred thousand. But he said, look, I cannot exceed the amount I am giving you as a promoter; we now said look, if it is that,

it means you’ll now want your money to be paid back in six or eight years not four years. And he said that’s okay.

And as of today, the government has recouped more than 75 percent of the money within four of five years of this programme.

And farmers made a profit of nothing less than N750 million, individual profits by farmers and who paid the interest back to the banks?

The government volunteered that the interest would be paid. And they took the money from the CBN which is at 7 percent and which is minimal and today, the farmer, in terms of paying back, agreed that 5 percent of their profit be paid to government as tax and they have created a lot of employment through that. So you can see that the government is finding a way of reducing the burden of interest to the farmers, so the farmer now has access to the fund but it must be somebody who is very reputable to make the refund and not directly the farmer.

The federal government should give a minimum of ten years and maximum of fifteen years for agric sector loans to enable that sector to actually stabilize and be able to produce for Africa. Because along the line you have certain problems and when you now think about the bank rate, it is worrisome.

Your farm is currently in collaboration with the federal government on the school feeding initiate. What’s the extent of that partnership?

Well, the school feeding programme started from Osun; from the chicken produced through the collaboration of the government is been processed and supplied back to the school to feed the children, and the government is also paying money for buying those products. I think at that level the federal government found that there’s a programme in Osun

and it is working and because of that, the federal government is now interested to see the model being used in Osun. The model has created a lot of employment and also created some wealth. Whatever the children consume in Osun, they’re home grown food.

The meat production side happened to be the most successful government intervention in that state.

As I said it has created thousands of employment, it has also created about three or four hundred millionaires who can say my farm is worth millions of naira. So, it has also created self-entrepreneur who can say I am the owner of this and that, self-employed. We have some farmers who say their children should not do any other thing than to be a poultry farmer. In fact, the programme is now made up of about fifty five percent of post-secondary school graduates, HND holders, and university graduates. So the level of youth thuggery has reduced drastically in Osun, there’s no thuggery or roaming about the state, the state is so peaceful and hardly can you hear of any of these people with idle mind. I think that’s some of the reasons why the federal government now decided to adopt what we were doing there and we are much involved in that and recently we received about seven states who are also interested in starting their school feeding programme under the umbrella of the federal government and we are asked to give them the ‘how do we do it? What do we do’? That’s on the general note. Before then, when you talk about poultry products, there are two products that are going to be included in the school feeding programme, the meat and the eggs.

CONTINUED ON NEXT PAGE

34

T H I S D AY • MONDAY, AUGUST 15, 2016

BUSINESSWORLD

INTERVIEW

BADMUS: FG SHOULD ENCOURAGE LONG-TERM REPAYMENT PLANS FOR AGRICULTURE CREDIT So, tell us about your recent memorandum of understanding (MoU) with the federal government on the national egg production scheme. What does it mean for the country?

Thank you. On the MOU signed, the federal government found out our record and decided to invite us to say okay, the way you have developed the meat production side, we need to also develop the egg side and the egg is required to be included in the school children feeding programme. There are some states producing now, there are others that are not producing and when you say home grown, it means that whatever you are feeding the children must be produced in that state and it creates employment within that state. So we were invited to submit a proposal on that which we did and said look it is a thing that is workable. We are going to have a minimum of 20,000 birds laying in all the 774 local governments in the country, we have twenty thousand birds and we want to concentrate on small families.

So maybe we give you 2,000 birds to manage, you will know that this will not cost less than about N10 million for a start, but you are not going to pay. We have identified those who will give you the day-old chicks, we have identified those who will give you feed, we have identified those who will give you the drug and vaccine to use throughout, and they will not take the money back until when the birds start laying. And when they start laying, the state entrepreneur will take it back and sell to the school feeding programme so that the income there is guaranteed. There is going to be a ratio of what it will be between the farmer and the state entrepreneur.

So, the MOU basically is based on the federal government interest to create job opportunities, which the programme will give a minimum of one million. The federal government is interested in stopping all sorts of importing eggs into the country; the federal government is also interested in creating wealth amongst the citizenry so that you are self employed.

So these are the basic objective of the federal government in agreeing with us to do that, and the federal government is also thinking of conserving foreign exchange, because when we produce after the human consumption, we envisage that there’s going to be excess-the excess now is going to be turned into egg powder. All the Cadbury, the Nestle who are importing powdered egg into the country to mix with beverages for feeding the children- all those ones will eliminated and the egg powder will now be produced locally and supplied to all these factories.

You can see that they a focus-so in the next three to four years now, there won’t be any importation of egg powder in the country again. And the egg powder, if you now produce in excess, which we don’t really know for now, will be exported to other countries-our target is West Africa and Africa.

So what are the major content of the N25 billion MoU? No, the N25 billion is not given to Tuns Farms. Actually what we require is about N200 billion but because the scheme is not taking off 100 percent in the first year, it has to be gradual. Our target is to take off from six or seven states and in that case, the total money required will not be up to N100 billion or N200 billion. So what why we determined the initial money required to begin with. The money required is not for Tuns but Tuns is just a scheme manager and ordinarily Tuns is supposed to be paid by the federal government for using these services.

So the N25 billion is a loan to entrepreneurs.

We have three steps: the first step is national input supplier. The national input supplier is the one to produce day-old chicks and give to the farmers, they are the ones to produce feed and supply to the state, and they are the ones to produce drugs and vaccine for the birds. So these are the set of people if they require funding, they will go to the Bank of Industry (BoI) and submit and have their collateral or whatever it is to access the money. But it is going to be between six and nine per cent interest rate- it is not going to be the commercial rate of 20 percent or 22 percent. It is those who are going to be in this category that will access the money based on their security, if they don’t have

a millionaire in one day. So if we are able to get some honest people to be involved , and like I said earlier on we had the same problem in Osun where somebody just feels because he is keeping the birds, the daughter is getting married and just went and took fifty birds. But after the daughter’s wedding, the person had to be in prison for about four weeks. So we had about seven of them like that and ever since, nobody has ever come up with such an act again. If you want to buy, you buy, it does not belong to you, simply because it’s entrusted to you.

Badmus the security the bank will not give you the money. It is not to be disbursed by Tuns; the only area that Tuns comes in is to identify who and who qualify to access the money.

For instance, we have identified all those who will be the national input supplier. Then the next stage is the state entrepreneur, the input supplier will supply all these materials to the state entrepreneur who in return will also pay these suppliers back. The state entrepreneur is the anchor person in that state, he also is entitled, if he wants money from the BOI, he will go and borrow to pay this national input supplier. But the state entrepreneur will in return also supply the farmers through the cooperative societies of each state and distribute to the farmers. So the farmer will not pay him back until when they start having the eggs. So he also will go to bank and borrow money. The farmer will not borrow money, the farmer will only be guaranteed by their cooperative societies. So they will have interest free fund and they will have about seven months before they start paying back through the eggs produced from their farms and the eggs will now be sold to the school feeding programme which will also pay the state entrepreneur. So it is through that method that the state entrepreneur will now be paying back what he has borrowed from the bank.

The government has put the money there at a fixed interest rate to these key people, who will now give the input to the farmers. No money is actually going to exchange hands per say except between the national input supplier and the state entrepreneur.

Because when the national input supplier supplies the materials; we are trying to model out now that the national input supplier should extend ninety days credit facility to the state entrepreneur while the state entrepreneur will extend another ninety days to the cooperatives.

Within these ninety days or there about the eggs will start coming out, so the risk is borne by the national input supplier and the state entrepreneur. So the cooperative will only give a written MOU between them and the state entrepreneur. So the money is to be well managed. So there’s no way somebody can just go and take N25 billion from the treasury- if that can happen in other regimes not this one. So the money is to be well managed because the first year anniversary is that N25 billion, the second year anniversary may be about N50 billion and as I said we are starting with six or seven states, and because poultry is also one of the road maps of this present administration to develop it because in Nigeria now we hardly cook in our homes, everybody goes to an eatery and the common thing there is chicken before you talk of fish and meat is number three. So the demand is so high and the school children they require eggs for essential nutrients.

So apart from the opportunities provided by this egg scheme, do you for see any

challenges that should be resolved?

Definitely there are going to be bounds of challenges; one of the major challenges we are trying to solve now is the weather challenges in the north, because the weather condition for keeping the birds in the south, is different from the weather condition in the north, and so we’ve gone round, we went to china, we went to Indonesia, we went to India because Americans have twenty four hours electricity, so they can keep the bird under same condition we are here now but those country cannot do that-so we’ve seen the way they constructed their building so as to make the birds to perform and we envisage that , we have been able to solve that problem by checking what type of building do you have in the northern part that the temperature is so high, we have solved that but we want to practicalise it here, but from countries where we want to copy from it has been very successful and we don’t envisage any problem there. Then also we are envisaging the challenges of our people not being seriously minded, and stealing-which is very common among our people and that is why we are targeting households-2,000 birds for you to manage in your home, feed your family, let everybody be comfortable and it’s more or less a family business.

That is what we are targeting, if we target more than that, we envisage there may be problem. It is going to be that easy for somebody to manage when you know that this is my family business so that pilfering and stealing will not be too much. These are the two major things that we expect, but in terms of default, we don’t envisage any default except they are moral and weather condition. Not that along the line we will not encounter things but the risk is not going to be much because we also device a means whereby like what we have in Osun, on every farmer, in the course of calculating the selling cost, we factor in a security risk of about N15 per bird, and that goes to the association there so that if there is any problem on the farm, we will use that money to pay the farmer the compensation back. The poultry association of Osun under that system I think have about N35 million fixed money in their account, which any member of their association that has genuine but not criminal problem-If it is criminal it will be reported to the police, but if it’s a genuine problem, they will pay that farmer 100 percent of the loss which no insurance company will pay you.

So, that type of arrangement has worked...

So we will try and copy all those ones in the other states and get it to work. Under that system, the programme will not fail, but the major challenges are these two I mentioned earlier on, the weather condition which I believe we have overcome, we will we practicalise it. We will follow the recommendation of where it works, and then the issue among ourselves, because everybody wants to be

How would you really justify your recommendation for longer repayment space for loans to agricultural?

The current loan life span is about five to six years, the maximum is six years and it does not give room for growth. For instance, if we start with twenty thousand birds per local government twenty, there are tendencies along the line when the population or the market is improving, there are tendency that the farmer will like to go into thirty thousand, forty thousand or there about, so whatever money he is able to make as profit he now plough back to further expand because the more you produce the more income will come to you, until when it reaches a certain level.

So along the years it takes time to do that , I got my own experience from Osun, you see when you give a farmer two thousand birds, by the time he makes about N500,000 profit, he goes back and builds another house, another bird house and increase his own capacity by one thousand more or there about. It’s a continuous investment. Now, in our own case our processing plan can only process about one hundred and fifty thousand bird on a daily basis, there are other machines that can process one million, but if the farmers are producing 100 percent above what they did, there is need also for me to upgrade my own processing plant , all those things are there and after about five or six years or ten years, it will now give you an international competitive advantage, so nobody can think about smuggling again when they know that the cost of you producing locally is even cheaper than the one you want to import.

Another thing is the cost of fund because the nine per cent which we are talking about is still on the high side; the maximum should be about five to six per cent.

Why don’t we device a means where by the interest rate should not be higher than five or six per cent and maximum including what the bank that takes the risk will charge including what CBN takes, so it should not be more than that, and it should be between ten and fifteen years to enable the growth because we are growing. The growth cannot be in four or five years, it has to be a continuous growth.

And if you need to borrow money from the bank today to set up a business, that business will not start operating until the next one year, and before they know you in the market it takes another two years before you actually penetrate, and all these take time, it is not something that you can say I want to pay within a particular time.

But with this arrangement of federal government, using some people as a broker and also making sure that the interest is not paid directly, I think farmers should be happy.

What is your vision for Tuns Farms within the next five years?

Well, Tuns farms currently has a national target, the success of that national target will be the highest feat that Tuns Farms will aspire to be. You know, we did it at the local level, we did it at the state level, I did it when I was the national president as an individual, but now the company is been challenged to pull all over Nigeria and set up the egg production scheme and empower and be able to create over one million jobs on behalf of the federal government.

So that is the challenge that we now have and if we are able to achieve that, the target is to produce fifty million of table eggs on daily basis in Nigeria , so how do we go about this? That has been our major aspiration which is enough challenge and that is what we want to face and Insha Allau, we will be able to succeed. So that’s my prayer.

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T H I S D AY • MONDAY, AUGUST 15, 2016

BUSINESSWORLD

PERSPECTIVE

UNITED FRONT AGAINST ILLEGAL SHIPPING CHARGES world trade and consumers.

The Secretary General of GSF, Mr Chris Welsh, had described the various illegal charges as causing a sense of frustration and anger among members. He said it was the determination of the GSF to endthe imposition of such surcharges on shippers by 2020 through a series of actions which will expose the scale and injustice of the practice to world trade bodies. Welsh said, “our campaign will expose the extent of surcharging and make it an issue in future trading agreements. We are determined to end these practices and restore visibility to shipping rates and confidence to shippers.”

Benefits to Nigerian Shippers President of the Rivers/Bayelsa Shippers’ Association, Mr. Udofia Ofon, who spoke on the benefit of the meeting said it will help Nigeria to maintain international best practices in the shipping industry. Udofia added that being a part of GSF will help Nigeria to know what is happening in other countries. He added “ It will help us to encourage healthy competition and ensure that our shippers are not been side-lined in international environment. It is good that we are part of it and am even happy that Nigerian Shippers’ Council is a signatory to all their laws”.

Ogo told this writer that by attending the meeting said the Council wants to strengthen the bargaining power of Nigerian shippers at all times with shipping lines. She added, “It means that the consumer will be protected because shippers will pay for services actually delivered not just padded b headings.

The shippers have a right to say , fine, if am going to pay XYZ amount, what is it for?”. She added, “Also , charges have to be reasonable. You pay for actual services and it must be commensurate with the service delivered not just anything released by the shipping lines”.

She said by bringing Nigeria’s case to the GSF, the Forum can use its platform to expose what multinational shipping lines in their outrageous illegal charges. These shipping lines, she said, do not like being exposed because they know they were not doing the right thing. “We are here so that the GSF can begin to tell the whole world what a particular shipping line is doing in our country and a region of the world and they don’t like that exposure. “So becoming part of GSF will expose a lot of things that are not proper. So it lends weight to the voice of Nigerian

Shippers Council in the fight against illegal shipping charges.

She expressed optimism that since the GSF and the shipping lines have a platform for discussion and interactions, the issues raised during the Colombo meeting as they affect shippers in Nigeria and other places would be addressed.

She said, “ I think that coming here has opened our eyes to all the issues which will be beneficial to operators in Nigeria especially for shippers enlightenment and awareness.”

Ugwoke, journalist, wrote from Apapa, Lagos

Business Groups Petition China’s Premier on Cyber Rules In a letter addressed to Chinese Premier Li Keqiang, 46 global business groups spanning finance, information technology, insurance and manufacturing urged Beijing to revise its draft cyber rules which they said would hamper trade.

The signatories include industry associations from Asia, Australia, the United States, Mexico and Europe, according to a copy of the letter seen by Reuters.

Foreign industry groups have made no secret of their concerns over China’s draft

cyber security law, which in June underwent a second of three parliamentary readings typically required before being adopted.

They say the draft regulations, as well as cyber rules from China’s insurance regulator, include provisions for invasive government security reviews and onerous requirements to keep data in China.

“Trade-inhibiting security reviews” for information and communications technology products and services under the rules may weaken security and constitute technical barri-

ers to trade under the World Trade Organization, the groups said in the letter.

Broad data residency requirements “would impede economic growth and create barriers to entry for both foreign and Chinese companies”, they said, urging China to revise the rules.

“The current drafts, if implemented, would weaken security and separate China from the global digital economy.”

China’s Foreign Ministry did not respond immediately to a request for comment on the

letter on Thursday.

Chinese officials have said the cyber security rules, along with internet restrictions including the blocking of popular foreign sites like Google and Facebook, are needed to ensure security against growing threats such as terrorism.

The first draft of the cybersecurity law, published more than a year ago, toughened user privacy protection from hackers and data resellers, but also boosted the government’s powers to access and block dissemination of private

information records that Chinese law deems illegal.

It is not clear when the law may be adopted, but it could undergo a final reading by the standing committee of the National People’s Congress, or parliament, later this year.

The petition from the industry groups came as China prepares to host world leaders at the G20 summit in the eastern Chinese city of Hangzhou in September.

Beijing hopes it will be a platform to address slower economic growth and rising protectionism, even as it

struggles to make difficult reforms at home.

Foreign businesses in China are becoming increasingly pessimistic, in part due to rules that companies think could make it harder to operate there.

The cyber rules have added to problems between China and its trade partners, from overcapacity in the steel sector to worries about Beijing’s Made in China 2025 plan, which calls for a progressive increase in domestic components in sectors such as advanced information technology and robotics.

36

MONDAY, AUGUST 15, 2016 • T H I S D AY

BUSINESS/MONEYGUIDE

‘Re-orientation Required in Solving Present Economic Challenges’ Peter Uzoho To help solve Nigeria’s present economic challenges, an expert has suggested that Nigerians should change their orientation towards the consumption of foreign goods and services.

Speaking at the 2016 Lagos Bankers’ Night of the Lagos Chapter of the Chartered Institute of Bankers of Nigeria (CIBN), entitled: “Repowering Nigerian Economy: The Strategic Imperatives,” the guest speaker who is the Chief Consultant at B. Adedipe & Associates, Dr. Biodun Adedipe, stressed the need for Nigerians to change their attitude towards the consumption of foreign products.

Adedipe pointed out that economic management, whether at the private or at the corporate levels is to create

wealth, address the needs of the moment and also to anticipate the future needs.

“So what needs to change, talking about the strategies now; since the issues and challenges facing us are well-known, well-discussed and even well-documented, I will at this point only remind us that economy is not rocket science. The first thing I believe needs to change in Nigeria is our orientation towards consumption and our penchant also for foreign product.

“As a nation we must come to terms with the fact that the market system is not perfect and it is not fair either. Now new liberalism that we have adopted in the last three decades has proven to lack the answer to our mirage structural problems and the rigidities and I did say earlier that we have to be pragmatic

and also think in the box and not to think outside the box,” he added.

Speaking on what he termed ‘the major needs of ordinary Nigerians’, he said: “They want quality jobs; they want quality and regular power; they want good roads; they want financial inclusion; they want affordable housing; they want security of lives and property; they want food security; they want good education and health delivery systems, and they want rule of law and equal opportunity.

“Now, any economic policy and or public service officer that does not go in this direction is a break of social contract that democracy represents. And that means the executive; the legislative and the judicial arms of government will work together for the common goal that either pull or push in the same direction.”

FBN Microfinance Now Letshego MFB Following the December 2015 acquisition by Letshego Holdings Limited of 100 per cent shareholding in FBN Microfinance Bank (FBN MFB), the latter has been rebranded Letshego MFB. Letshego Holdings Limited, a group with consumer, micro lending and deposit-taking subsidiaries across Southern, East and West Africa has also pledged its resolve to continue to champion inclusive finance with a transformational strategy The rebranding according to the firm aligns the Nigeria operations’ brand with that of the other nine Letshego operations across sub-Saharan Africa. This Africa-wide brand is being reinforced with equally aligned strategic imperatives, as Letshego Group continues to further its ambition to become Africa’s leading inclusive finance group.

“The news of the acquisition early this year is coming to life now as we see Letshego MFB take shape in a bold, purposeful new look and feel, joining a family of brands that has a clear vision and strategy for inclusive finance.

“This is another affirmation of our commitment to the people of Nigeria - we will continue to make every effort to ensure we deliver relevant, value adding and

responsible financial solutions.

Innovation underpins our financial inclusion agenda, and it is innovation, partnerships and access to capita that we leverage to ensure we help deliver an enhanced customer experience to improve life.

Doing so remains our goal and, indeed, our passion.

“Our new brand promise “Let’s improve life,” is embodied in everything that we do,” said Letshego Holdings Limited Group Managing Director, Mr. Chris Low, said at the unveiling of the new identity in Lagos at the weekend.

The bank, established in 2009, is one of seven microfinance banks in Nigeria to have been awarded a national microfinance banking licence.

It has over 20 branches across Lagos, Abuja and Oyo, and over 300 team members, with a focus on core lending, savings and transactional financial services to micro and small entrepreneurs (MSEs).

With over 80,000 savers and over 10,000 MSE borrowing customers, the contribution towards realising Letshego group’s financial inclusion vision remains strong. The agenda to benefit the people of Nigeria remains a key imperative for the business, as Letshego reaffirmed its focus on improving lives through simple, appropriate

and affordable solutions.

Also, Letshego Holdings Limited Group Head of East Africa and Microfinance, Mr. Tom Kocsis, expressed the company’s commitment to delivery of broad based financial solutions through diversification of customer segments, products and access channels.

“The growth prospects in our targeted formally employed, low-and-middle income, and MSE customer segments in Nigeria bring a wealth of potential. Our growing investment in supporting the people of Nigeria, and championing strong socio-economic development through inclusive finance, is a means for us to further improve lives. “ On his part, the CEO of Letshego MFB, Mr. John Ologe said he was excited for the many opportunities head and the plans for a truly inclusive MFB. “Amongst some of the investments and advancements made by the bank is greater accessibility of products for customers as well as improvement in turnaround time on lending products. Supporting this is the greater investment into the capability of the team serving our current and future customers, as well as deeper access to necessary growthcapital,” he added.

Access Bank Promotes Cash-less Policy As part of its contribution to the growth of cash-less policy in the country, Access Bank Plc has rewarded winners in its on-going promo for customers with its Verve International cards.

In the promo, customers that spend up to N15,000 on POS and web transactions five times every month are rewarded through a draw.

Speaking at the prize presentation held in Lagos at the weekend, the Head of Retail Channels at Access Bank, Uloma Ike, said the promo started in June 2016 and is expected to end this month.

She said the bank introduced the campaign because it

realised that a lot of customers were still doing cash transactions, either through ATMs or across the counter.

“We partnered with Verve International to push the cashless transactions to basically point of sale (PoS) and web, and we got a lot of transactions from those channels because of the promo. The promo will also open the mind of our customers of the opportunities in using your cards for other channels apart from ATMs. “One of the things we also realised was that a lot of customers think of their cards as being just for ATMs. It is actually not an ATM card. It can be used for

lots of transactions. So, we partnered with Verve.”

The promo has a monthly grand prize of N1 million and that of June was won by Mrs. Folorunsho. Also, 100 consolation prizes that ranged from washing machines, generators, smart phones and table top refrigerators were given out.

“It is not over, so our customers can still participate. We want more customers to be part of it. Also, this is a way for us to thank customers for choosing to bank with Access Bank. So, we are rewarding them for their loyalty. They have been banking with us for a while and this is a practical way of thanking them,” she added.

Broad street

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

MARCH 2016 Broad Money (M2)

20,470,436.00

-- Narrow Money (M1)

9,040,817.68

---- Currency Outside Banks

1,441,365.03

---- Demand Deposits

7,599,452.65

-- Quasi Money

11,429,618.32

Net Foreign Assets (NFA)

5,551,714.27

Net Domestic Assets(NDA)

14,918,721.73 22,664,815.74

-- Net Domestic Credit (NDC) ---- Credit to Government (Net)

3,782,578.01

---- Memo: Credit to Govt. (Net) less FMA

4,991,246.39

---- Memo: Fed. and Mirror Accounts (FMA)

-1,208,668.38

---- Credit to Private Sector (CPS)

18,882,237.7

--Other Assets Net

-7,746,094.02

Reserve Money (Base Money)

5,758,634.07

--Currency in Circulation

1,811,090.48

--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 11 AUGUST 2016 The price of OPEC basket of fourteen crudes stood at $40.62 a barrel on Thursday, compared with $40.57 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 (IslamicRepublic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), EsSider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

SOURCE: OPEC headquarters, Vienna

37

MONDAY, AUGUST 15, 2016 • T H I S D AY

MARKET NEWS

Impairment Charges Hurt Zenith Bank’s Bottom Line Shareholders to receive 25kobo interim dividend Goddy Egene and Nosa Alekhuogie Zenith Bank Plc reported a drop in its profit before and after tax for the half year ended June 30, 2016.

The audited half-year results of the bank showed

gross earnings of N215 billion, down from N229 billion. Net interest income rose from N112 billion to N127 billion.

However, impairment charges jumped from N7.2 billion in 2015 to N14.2 billion in 2016.

Consequently, profit before tax (PBT) fell from N72.2 billion to N63 billion, while profit after

T H E

tax (PAT) declined from N53.2 billion to N44 billion in 2016.

Despite the fall in the bottom-line, the Board of Directors recommended interim dividend of 25 kobo per share for the half year ended June 30, 2016.

The interim dividend is similar to the one paid in 2015.

N I G E R I A N

Commenting on the second quarter (Q2) results of the bank, analysts at FBN Quest, noted that it showed a significant year-on-year growth (140 per cent) in PAT to N48 billion.

In contrast, the change in PBT was a decline of 20 per cent.

“The boost to the PAT came from foreign exchange

STO C K

-related gains on the back of the devaluation of the naira on the other comprehensive income line. This relates to translation effects from foreign subsidiaries. The fall in PBT was driven by a combination of a five per cent decline in profit before provisions and a 128 per cent increase in loan

E XC H A N G E

loss provisions to N11.7 billion.

These more than offset a six per cent decline in operation expenses,” the analysts said.

They explained that as with several of the banks which have reported Q2 results, the impact of the naira devaluation has proved significant, distorting the bottom line.

38

T H I S D AY • MONDAY, AUGUST 15, 2016

CITYSTRINGS Forgotten Makoko Community

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

Life is indeed, miserable and hardly worth living for the people of Makoko, a shanty town in Lagos mainland. Peter Uzoho, who visited the community recently, reports that there is no government presence in the area

A typical Makoko community

“W

e beg government to help us. We are the ones, who voted for them, but now we’re suffering and they are enjoying; it’s not fair. We need help in this Makoko area. Let them not come to demolish our homes. They should find solution to our problem that’s why we voted them into power. We don’t know what to do and they are there looking at us without doing anything to help us. Are we not part of this country? Is our world different? God is watching them oh! When they want to find vote they will come and promise heaven and earth but when they enter the seat of power they won’t remember us again. It’s we the poor that vote for them more.”

Those were words of a dejected poor resident and mother of eight in Makoko community, Mrs. Shade Ayeni. Her outburst is in no way different from the normal wailings of a typical lower class citizen in a country blessed with abundant resources and opportunities.

Descending the Third Mainland Bridge, Lagos, one is ushered into a community whose residents dwell in wooden huts built on top of water. A shanty town with high population density, Makoko is a perfect definition of poverty in the midst of plenty. The people barely have one square meal a day as hunger and despair have become a norm among the people and they have no option, but to live with it.

Their health is on a daily basis threatened by the dirty environment they live in. From

Apollo Street down to the interior side of the community, the parts are filled with trashes, dumped indiscriminately by residents, left to decompose and produce obnoxious odour which constitute health hazards to them.

Being a predominantly fishing community, the people of Makoko drift across muddy lagoons, casting nets to fish for their sustenance.

Parents, young men and women and even children are jointly engaged in the vocation.

This place is not worth living for human beings.

We’re just surviving by the grace of God...I’ve been here for three years now and have been asking God to help me raise money so I can leave this place. To be honest with you, those people living in the big cities like Victoria Island cannot be able to spend just one hour here, because if they try it, they will find themselves in the hospital

Residents of Makoko using wooden canoes as the means of transportation

Although, the people have a long history of living in squalor, the population of the community has never witnessed a decline as month after month, people still make entry into the community. Many have argued that the high rate of rural-urban migration resulting from the search for greener pastures by the youths is responsible for this.

Indeed, Makoko in some way can be regarded as a microcosm of the macrocosm called Nigeria. In the slum community,

all the states and tribes of the country are represented. For instance, in there, you can find the Yorubas, who are the natural owners of the land; there are Igbos and Hausas there; the Ijaws, Ibibios, Eguns, Ilajes, Tivs, Itsekiris and many others, are all living there. Keeping aside their tribal and language differences, they are joined together in the sorrow and agony of being disappointed, rejected and forgotten by the government, whose duty it is, to cater for their well-being.

39

T H I S D AY • MONDAY, AUGUST 15, 2016

CITYSTRINGS

Residents of Makoko living in dirty environment...something urgent should be done to alleviate their plight

The suspended wooden homes surrounded by dirty water

Another resident of Makoko community is Mr. Ikenna Ifegbu, an indigene of Abia State, who has just lived in the community for three years. Ifegbu, a tailor dwells in one of the huts with his newly-married wife. He left his home, Abia State, for the city of Lagos to look for a means of survival, but ended up in shanty, as there was no money to rent a block house.

“This place is not worth living for human beings. We’re just surviving by the grace of God,” Ifegbu said. “I’ve been here for three years now and have been asking God to help me raise money so I can leave this place. To be honest with you, those people living in the big cities like Victoria Island cannot be able to spend just one hour here, because if they try it, they will find themselves in the hospital,” he said.

Fuming in indignation, he continued, “Let government come and rescue us from this bondage. They are supposed to know that we are the power of government. During election I know the effort I made to ensure that we voted the right persons into power so that they would in turn make things better for all of us. But the election has come and gone and no one remembers us again. We are just looking without seeing anything. We’re begging them to come and help the poor people here,” he added.

Apparently, anyone who has visited Makoko by chance or on a well-planned trip would rightly summarise it to be a place for the

Dirty water surrounding Makoko community

forgotten. From all indications, they have been disconnected from the mega city plan of the state government, and are, therefore, left to take care of themselves in any way possible for them.

Ironically, politicians often times take

We have no food to eat; we don’t have good water to drink. Our children are out of school because we don’t have money to train them...

During election, they will come here with their fake campaign promises which they would never fulfill.

How many times will they promise us electricity?

How many times will they promise us good water or school for our children?

Which of those promises have they fulfilled?

advantage of the population of the community to emerge winners during elections.

As election draws closer, they begin to make their unusual entry into the forgotten area; making empty campaign promises which they would hastily forget after election. All the promise of electricity supply, the potable water promises, restoration of the dilapidated environment, building standard school for the children, kicking out poverty in the land, and other promises made to them, till date, remain a mirage.

“We have no food to eat; we don’t have good water to drink. Our children are out of school because we don’t have money to train them,” Mrs. Bose Ogbaro, mother of four complained.

“During election, they will come here with their fake campaign promises which they would never fulfill. How many times will they promise us electricity? How many times will they promise us good water or school for our children? Which of those promises have they fulfilled?

“Government should come and help us.

We have been crying to them but they don’t want to hear us. Is it when we die that they will remember us? We’re living in huts made of planks and they are there watching us,” she lamented.

According to the residents, instead of attending to their problem, government aggravates it.

On monthly basis, government officials who claim to be tax officials would come demanding

that they pay their taxes, not minding their suffering. Also, they are forced to pay N2,000 as rent every month for the hut they are living in which government does not bother to maintain for them when necessary.

“When I tell people that we don’t have government in Nigeria but oppressors, they keep arguing with me. Our governments are not there for us; they can never think about us. So the earlier we realise that, the better for us. I know we are suffering, I know we are going through pains caused by the inability of our government to do what will benefit us, but then, we should take life the way we see it and move on,” Mr. Edmond Ubong, a resident of the community said.

“Can a government that has sympathy for its own people be bold to come to demand tax from us under this condition. They said they are doing tax inclusion and now remembered that people are living here. Where do they expect us to get the money to pay them. They are not after knowing whether we are eating or not. They don’t care to know whether we ‘are healthy or not, all they want is money from us.

“The most annoying part is the N2000 they collect from us every month for rent. We are the ones that constructed these huts we’re living in. We maintain them when they are due for maintenance. So tell me the reason why government should be collecting this money from us. Nothing here can make one believe that this place is part of Lagos State or Nigeria,” he lamented.

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T H I S D AY • MONDAY, AUGUST 15, 2016

Nigeria’s top 50 stocks based on market fundamentals

8-Aug-16

5-Aug-16

% Change

Capitalisation

EPS

P/E

P/S

Div. Yld

Price/ Book Value

Table 1 Market Statistics Mkt Indicators

Open 5-Aug-16

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

27,425.86 9.42

27,394.98 9.41

-0.11 -0.11

113.55 8.84

113.01 8.80

-0.48 -0.48

01 Dangote Cement Plc

180.00

180.00

0.00%

3,067,291,332,900.00

9.56

19.14

5.76

4.44%

4.51

02 Nigerian Breweries Plc

130.00

133.03

-2.28%

1,030,783,115,440.00

4.50

30.03

3.57

2.71%

6.48

03 Guaranty Trust Bank Plc

23.95

23.11

3.63%

704,876,742,414.80

3.38

7.07

2.36

7.66%

1.57

820.00

820.00

0.00%

649,978,126,640.00

19.41

42.25

3.92

3.54%

18.48

05 Zenith Bank Plc

16.01

16.03

-0.12%

502,657,865,513.86

3.33

4.91

1.23

11.23%

0.81

06 Lafarge Africa Plc

51.50

51.15

0.68%

234,577,443,215.00

-6.71

-7.69

1.06

5.87%

1.66

166.82

166.82

0.00%

217,279,897,602.46

4.22

39.53

1.47

2.07%

5.07

11.54

11.82

-2.37%

211,753,821,021.10

0.23

53.54

0.42

5.25%

0.36

4.55

4.51

0.89%

165,071,844,765.10

1.65

2.80

0.53

13.30%

0.47

10 Presco Plc

38.85

38.85

0.00%

154,253,033,198.25

0.86

44.96

2.18

3.35%

3.59

11 Guinness Nig Plc

95.00

95.00

0.00%

143,059,377,860.00

3.70

25.69

1.27

0.00%

3.22

250.00

242.60

3.05%

138,327,578,250.00 -14.43

-17.70

1.51

6.56%

0.36

Table 4 Top 5 Losers Stock

04 Nestle Nigeria Plc

07 Forte Oil Plc. 08 Ecobank Transnational Incorporated 09 United Bank for Africa Plc

12 Seplat Petroleum Dev. Co. Ltd 13 Stanbic IBTC Holdings Plc

13.30

13.90

-4.32%

133,000,000,000.00

2.04

6.78

1.17

0.72%

1.24

14 Unilever Nigeria Plc

35.00

35.00

0.00%

132,415,368,750.00

0.46

75.69

2.17

0.14%

14.87

15 Access Bank Plc

5.60

5.48

2.19%

128,144,345,884.80

2.48

2.26

0.48

10.04%

0.41

16 FBN Holdings Plc

3.29

3.30

-0.30%

118,095,513,285.68

0.30

10.92

0.24

4.55%

0.19

17 Dangote Sugar Refinery Plc

6.98

6.65

4.96%

83,760,000,000.00

1.05

6.33

0.66

7.52%

1.34

18 Total Nigeria Plc

229.95

242.02

-4.99%

78,073,046,418.15

31.13

7.15

0.31

5.78%

3.89

19 7-Up Bottling Comp. Plc

119.50

120.20

-0.58%

76,550,548,378.50

11.12

11.36

1.04

1.83%

3.21

5.70

5.88

-3.06%

68,597,327,695.80

-3.46

-1.60

0.36

12.76%

0.51

178.60

178.60

0.00%

64,402,313,793.20

17.69

9.62

0.74

4.03%

3.75

22 Julius Berger Nig. Plc

48.39

48.39

0.00%

63,874,800,000.00

0.24

199.88

0.62

3.10%

2.85

23 International Breweries Plc

19.00

19.00

0.00%

62,590,736,320.00

0.17

105.36

2.43

1.32%

5.07

24 Flour Mills Nig. Plc

20.00

21.98

-9.01%

52,484,743,740.00

6.81

2.94

0.14

9.10%

0.58

1.24

1.24

0.00%

48,014,036,807.00

-0.37

-3.22

1.03

0.00%

0.63

20.00

20.00

0.00%

38,417,287,740.00

2.44

8.20

0.53

5.00%

0.52

1.28

1.28

0.00%

36,851,735,201.28

0.31

4.15

0.35

7.03%

0.44

28 Okomu Oil Palm Plc

35.00

35.00

0.00%

33,386,850,000.00

4.60

7.62

2.72

0.29%

2.15

29 Diamond Bank Plc

1.37

1.37

0.00%

31,729,732,886.16

0.11

13.68

0.17

0.00%

0.14

30 Fidelity Bank Plc

1.05

1.05

0.00%

30,423,536,874.15

0.39

2.77

0.22

15.24%

0.17

31 Wema Bank Plc

0.70

0.70

0.00%

27,641,861,249.10

0.06

11.93

0.61

0.00%

0.57

32 FCMB Group Plc

1.34

1.27

5.51%

26,535,632,410.36

0.61

2.09

0.16

7.87%

0.14

33 Cadbury Nigeria Plc

13.90

13.90

0.00%

26,107,008,356.00

3.21

4.33

0.78

9.35%

2.52

34 Cap Plc

37.00

37.00

0.00%

25,900,000,000.00

2.49

14.89

3.67

3.11%

17.04

35 Custodian And Allied Insurance Plc

3.80

3.99

-4.76%

22,351,083,941.00

0.76

5.25

0.70

3.51%

0.84

36 Glaxo Smithkline Consumer Nig. Plc

18.50

18.50

0.00%

22,123,715,028.00

-2.54

-7.28

0.76

1.62%

2.42

37 Mansard Insurance Plc

2.10

2.09

0.48%

22,050,000,000.00

0.27

7.55

1.12

2.39%

1.04

38 National Salt Co. Nig. Plc

8.06

8.06

0.00%

21,354,473,326.68

0.89

9.03

1.17

6.82%

3.09

39 PZ Cussons Nigeria Plc

19.55

19.55

0.00%

19,550,000,000.00

4.14

4.72

1.47

0.51%

0.59

40 Honeywell Flour Mill Plc

1.52

1.59

-4.40%

12,053,900,440.16

-0.40

-3.76

0.25

10.06%

0.77

41 Unity Bank Plc

0.99

0.99

0.00%

11,572,444,562.58

0.54

1.82

0.18

0.00%

0.13

42 Continental Reinsurance Plc

1.02

1.00

2.00%

10,580,199,198.24

0.33

2.95

0.49

12.00%

0.54

43 Skye Bank Plc

0.68

0.70

-2.86%

9,438,604,958.80

-2.93

-0.24

0.06

42.86%

0.09

44 Cement Co. Of North.Nig. Plc

6.60

6.65

-0.75%

8,294,073,255.60

0.96

6.61

0.61

1.50%

0.82

45 Wapic Insurance Plc

0.50

0.50

0.00%

6,691,369,124.00

0.11

5.16

0.94

6.00%

0.43

46 Nigerian Aviation Handling Company Plc

4.00

4.00

0.00%

6,496,875,000.00

0.15

25.94

0.81

5.00%

1.05

47 UACN Property Development Co. Limited

3.72

3.72

0.00%

6,393,749,981.40

-0.05

-68.09

1.81

18.82%

0.18

48 Resort Savings & Loans Plc

0.50

0.50

0.00%

5,664,866,202.00

4.68

0.11

0.02

0.00%

1.89

49 AIICO Insurance Plc

0.71

0.68

4.41%

4,920,445,180.80

0.28

2.42

0.14

7.35%

0.49

50 Fidson Healthcare Plc

1.95

1.95

0.00%

2,925,000,000.00

0.31

6.36

0.43

2.56%

0.46

20 Oando Plc 21 Mobil Oil Nig Plc

25 Transnational Corporation Of Nigeria Plc 26 U A C N Plc 27 Sterling Bank Plc

TOTAL

8,799,367,404,810.01

TOTAL MARKET CAP

9,408,790,941,936.79

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

93.52%

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

Close 8-Aug-16

Change %

Table 3 Top 5 Gainers Stock

Open 5-Aug-16

FCMB Group Plc Dangote Sugar Refinery Plc AIICO Insurance Plc Guaranty Trust Bank Plc Seplat Petroleum Dev. Co. Ltd

1.27 6.65 0.68 23.11 242.60

Open 5-Aug-16

Flour Mills Nig. Plc Total Nigeria Plc Custodian And Allied Insurance Plc Honeywell Flour Mill Plc Stanbic IBTC Holdings Plc

Close Change 8-Aug-16 % 1.34 6.98 0.71 23.95 250.00

5.51 4.96 4.41 3.63 3.05

Close Change 8-Aug-16 %

21.98 242.02 3.99

20.00 229.95 3.80

-9.01 -4.99 -4.76

1.59 13.90

1.52 13.30

-4.40 -4.32

Market begins week on a bearish note as Index drops 0.11% Market pulse on the Nigerian Stock Exchange (NSE) today – Monday, August 8, 2016 closed on a negative note due to intense sell presuure. This was further highlighted by negative performances from the NSE sub-sectors: Oil & Gas and Consumer Goods (Save Banking and Insurance).

Trading activities decreased in volume as 118.37 million shares worth N1.27 billion in 2,899 deals exchanged hands today. This is a decrease from the 120.84 million shares worth N1.27 billion in 3,307 deals exchanged on Friday. Topping in volume terms was Access Bank Plc, Fidelity Bank Plc and FBNH Plc while 7UP Bottling Company Plc and Zenith Bank Plc ended trading as the most active stocks in value terms.

The All Share Index (NSEASI) closed negative with a 0.11% (-30.88) decrease to close at 27,394.98 from 27,425.86 the previous trading day. Market Capitalization depreciated in tandem to N9.41 trillion from N9.42 trillion of prior trading day.

Similarly, the Thisday BGL 50 Index also followed suit with a decrease of 0.48% to close at 113.01 from 113.55 recorded at the end of the previous trading day, while its market capitalization stood at N8.80 trillion from N8.84 trillion of the previous trading day.

A total number of 15 stocks gained on the bourse today while 18 stocks declined, 59 leaving stocks unchanged. FCMB Group Plc emerged the day’s toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 5.51% to close at N1.34 per share. It was followed by Dangote Sugar Refinery Plc with a gain of 4.96% to close at N6.98 per share. Others on the gainers list include: AIICO Insurance Plc, Guaranty Trust Bank Plc and Seplat Petroleum Dev. Co. Ltd while on the decliners’ list; Flour Mills Nig. Plc led with a loss of 9.01% to close at N20.00 per share. It was followed by Total Nigeria Plc with a loss of 4.99% to close at N229.95 per share. Others on the losers list include: Custodian And Allied Insurance Plc, Honeywell Flour Mill Plc and Stanbic IBTC Holdings 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

50

MONDAY AUGUST 15, 2016 • T H I S D AY

INTERNATIONAL

email:foreigndesk@thisdaylive.com

Kurdish Forces in Fresh Push to Capture Mosul from IS Kurdish Peshmerga forces launched a fresh attack on Islamic State (IS) forces early yesterday as part of

a campaign to capture Mosul, the militants’ de facto capital in Iraq, Kurdish officials said. The

Diaspora: Ooni of Ife toTour European Countries Zacheaus Somorin The Ooni of Ife is to embark on an European tour to meet Nigerians in diaspora and honour distinguished individuals making waves there.

The tour and award which is being organised by Africultura, an organisation dedicated to the promotion of African culture, is expected to be a golden opportunity to showcase the richness in culture through his imperial majesty.

According to the Africultura President, Barr Barr Adeyanju Toyin, the “Africultura Award is being organised in conjunction with over 127 Yoruba associations and communities in Europe with direct diplomatic support of Nigerian Consulate offices in Germany, Netherland, Austria and Hungary”.

He stated that Ooni’s tour has become important now due to the fact that most Yorubas who spread across the globe find it difficult to trace and identify their origins. “These people are deeply inculcated into and consumed by the culture and the ways of live of the host countries. This syndrome is traceable to so many factors some of which are: immigration barrier, economy push out factors, Psychological perception of kinsmen, and empirical experience amongst others”, he added.

Africultural president explained further that the award came into existence in 2012 as a program designed to locate, and identify Africans, interact and discover, develop and sustain the uniqueness and values of African culture in them.

Adeyanju psoited also that the Yoruba nation is privileged to

have a young, dynamic,humble and energetic King visiting Europe hence using the opportunity to unite the entire Yorubas home and abroad.

“He has brought access of the throne of Oodua in an unprecedented effort since the history of Ooniship. His royal drive and passion have been a catalyst for economic and social-cultural growth and development of Ile Ife and Yoruba tribe generally in term of tourism, culture and agriculture is immeasurable”.

The Ooni’s tour is expected to include: lectures, royal visits to kings and queens within Europe, cocktail party, diplomatic dinner with African envoys, visit to museums and historical places, town hall meetings, dinners, business meeting, signing of MOU with multinational Agro-Allied companies and the United Nation Agencies.

Those that would be awarded include former Olusegun Obasanjo, Bola Tinubu,Moses Olaiya (Babasala), Chief Akiwunmi Taiwo, Chief Mike Adeniyi Adenuga, Prof Wole Soyinka, Otunba Femi Otedola, Chief Yemi Elebuibon, Chief Folorunsho Alakija, Alh. Aliko Dangote, Emir of Kano Alhaji Lamido Sanusi, Prof Itsey Sagay among others.

Africultural Awards is an event established to acknowledge, recognize and honour Africans across the world. The organisation is committed to lifting the spirit of oneness and Unity among Africans.

Over the years, Africultura has gained its recognition in excellent celebration of cultures within the African communities, particular in Europe and America.

Zambia’s President Maintains Slim Lead in Election Zambian President Edgar Lungu maintained a slim lead over his main rival on Sunday with nearly half of votes counted as the opposition called for greater urgency in releasing results amid concerns about rigging.

Lungu faces a stiff challenge from Hakainde Hichilema of the United Party for National Development (UPND) who accuses him of failing to steer the economy out of its slump after Africa’s second-largest copper producer was hit by weak commodity prices.

Lungu led with 669,960 votes against Hichilema’s 644,132 after 69 of the country’s 156 constituencies in Thursday’s vote had been collated, the Electoral Commission of Zambia (ECZ) told reporters on Sunday.

Lungu’s Patriotic Front (PF) party and the UPND have both said they believe they have won the

election.

The winning presidential candidate must receive more than 50 percent of the valid votes cast or the two leading contenders will go into a second round of voting. The UPND has raised concerns that the slow pace of vote counting is due to some ECZ officials trying to manipulate the result in favour of Lungu, a claim the ECZ denies.

“They have taken long to release the results. In the normal set up they should have been released by Friday,” Hichilema told reporters yesterday. The ECZ had hoped to have final results from the elections - in which Zambians also chose members of parliament, mayors and local councillors and decided on proposed constitutional changes - by early Sunday. Results were now expected later, officials said, without giving a time frame.

advance began after heavy shelling and air strikes by a United Statesled coalition against IS forces, a Reuters correspondent reported from Wardak, 30 km (19 miles) southeast of Mosul.

The militants fought back, firing mortars at the advancing troops and detonating at least two car bombs. Clouds of black smoke rose from the area and dozens of civilians fled in the direction of the Peshmerga lines, brandishing white flags.

A Peshmerga commander said 11 villages had been taken from the ultra-hardline Sunni militants as the troops headed to Gwer, the target of the operation, 40 km (25 miles)southeast of Mosul. Repair-

ing the bridge that the militants destroyed in Gwer would allow the Peshmerga to open a new front around Mosul. The bridge crosses the Grand Zab river that flows into the Tigris.

The Iraqi army and the Peshmerga forces of the Kurdish self-rule region are gradually taking up positions around Mosul, 400 km (250 miles) north of Baghdad. It was from Mosul’s Grand Mosque in 2014 that Islamic State leader Abu Bakr al-Baghdadi declared a “caliphate” spanning regions of Iraq and Syria.

Mosul is the largest urban center under the militants’ control, and had a pre-war population of nearly 2 million. Its fall would mark the

effective defeat of Islamic State in Iraq, according to Iraqi Prime Minister Haider al-Abadi, who has said he aims to retake the city this year.

The Iraqi army is trying to advance from the south. In July it captured the Qayyara airfield, 60 km (35 miles) south of Mosul, which will serve as the main staging post for the expected offensive.

The Peshmerga operation on Sunday “is one of many shaping operations that will also increase pressure on ISIL in and around Mosul,” said the Kurdistan Regional Security Council in a statement, using another acronym to refer to IS. The preparation for the offensive on Mosul “is approaching the

final phase,” Brett McGurk, the U.S. envoy to the coalition fighting the militant group, said in Baghdad on Thursday. He said the planning included humanitarian considerations.

Once the fighting intensifies around Mosul, up to one million people could be driven from their homes in northern Iraq, posing “a massive humanitarian problem”, the International Committee of the Red Cross said last month.More than 3.4 million people have already been forced by conflict to leave their homes across Iraq, taking refuge in areas under control of the government or in the Kurdish region.

CONNECTING AFRICA

US Senator Edward J. Markey (D-Mass.), the ranking Democratic Party member on the Africa and Global Health Policy Subcommittee of the Senate Foreign Relations Committee, giving remarks on his efforts to expand Internet access in developing countries to an audience of prominent technology leaders in business, civil society, government, and young entrepreneurs at the Co-Creation Hub in Lagos...weekend

Thai Police Find More Unexploded Bombs Thai police over the weekend found and defused five explosive devices that had failed to detonate when an as yet unidentified group carried out a series of deadly bomb attacks on popular tourist spots late last week.

Police said they had arrested one suspect following the bomb and arson attacks on Thursday and Friday that killed four people and wounded dozens more in some of Thailand’s best-known southern resorts and islands.

The attacks came just days after Thais voted to accept a military-backed constitution that the ruling junta, which seized power in 2014, has said will lead to an election by the end next year. “These acts were undertaken by a group in many areas simultaneously, following orders from one individual,” Pongsapat Pongcharoen, a deputy national police chief, told reporters yesterday, without elaborating.

No group has claimed responsibility for the attacks.

Analysts have been saying

suspicion would inevitably fall on enemies of the ruling junta aggrieved by the referendum results, or insurgents from Muslim-majority provinces in the south of the mostly Buddhist country.

Two incendiary devices in mobile telephone power packs were found in a market in the upscale resort of Hua Hin on Sunday, the interior ministry said in a statement. A bomb disposal team defused both, and local police said the devices had been there since Wednesday.

The resort was the scene of the most devastating of the wave of bombs when a blast ripped through an alley in a bar area on Thursday evening.

There were two more blasts in the town less than 12 hours later.

Another fire bomb was found on the island of Phuket on Sunday and defused, local police said. It had been set to detonate at 3 a.m. on Friday (1600 ET on Thursday), local police said. In Phang Nga,

two devices were found on Saturday near a market that was torched in an attack early on Friday.

“One worked and the other two didn’t,” Phakaphong Tavipatana, the governor of Phang Nga, told Reuters, adding that police hoped to find fingerprints on the defused devices. Phuket and Phang Nga were both hit in the attacks on Thursday and Friday, as was Surat Thani, a city that is the gateway to the popular islands in the Gulf of Thailand.

Attackers struck targets in seven southern Thai provinces, using bombs as well as incendiary devices that set shops and markets ablaze. A man has been arrested and was being questioned in connection to an arson attack on a supermarket in the southern province of Nakhon Si Thammarat, Pongsapat said. Police believe more than one individual was involved in that attack, he said. The movements of other suspects were being monitored, he added.

Prime Minister Prayuth

Chan-ocha, the army chief who led the coup two years ago, has instructed the police to be thorough and cautious in their investigation, said Pongsapat, adding that police were “not catching scapegoats.”

No evidence has been found yet to connect southern insurgents to the attacks, Pongsapat said, but DNA samples collected at the blast sites were being compared with databases in the southern Muslim provinces.

Fears that followers of former prime ministers Thaksin Shinawatra and his sister Yingluck Shinawatra could be blamed prompted a senior figure in their Puea Thai Party to issue a sharp denial on Saturday.

Thaksin’s government was toppled by the military in 2006, while Yingluck’s was ovethrown two years ago. The anti-government United Front For Democracy Against Dictatorship (UDD), known as the “red shirt” group and sympathetic to the Shinawatras, condemned the attacks in a statement on Sunday.

51

MONDAY AUGUST 15, 2016 • T H I S D AY

INTERNATIONAL

Brexit Could be Delayed until 2019 Britain’s exit from the European Union could be delayed until at least late 2019 because the govern-

ment was too “chaotic” to start the two-year process early next year, the Sunday Times reported,

citing sources it said were briefed by ministers.

Britain voted to leave the EU on June 23, but views differ over when it should invoke “Article 50”, which sets the clock ticking on a two-year deadline to leave the bloc, with some senior politicians calling for a quick departure.

Prime Minister Theresa May, who campaigned for Britain to remain in the EU and leads a cabinet of ministers from either side of the debate, has said she will not trigger Brexit talks this year as Britain needs time to prepare.

But British government ministers have warned senior figures in the City of London, London’s financial district, that Article 50 was unlikely

to be triggered early in 2017 because the situation in government was “chaotic”, the Sunday Times reported on Sunday.

“Ministers are now thinking the [Article 50] trigger could be delayed until autumn 2017,” one source, who had spoken to two senior ministers, told the newspaper.

“They don’t have the infrastructure for the people they need to hire.

They say they don’t even know the right questions to ask when they finally begin bargaining with Europe.”

Asked about the reported delay to triggering Article 50, a Number 10 spokeswoman said: “The Prime Minister has been clear that a top priority for this government is to

deliver the decision of the British people to leave the EU and make a success of Brexit.”

“The PM has set out the government’s position on Article 50 and has established a new department dedicated to taking forward the negotiations,” she said. European leaders have taken a firm line on the speed of Britain’s exit, with German Chancellor Angela Merkel saying that while it was understandable that Britain would need a few months to figure out its strategy, “nobody wants a long period of limbo”.

But behind the scenes, there has been a growing realization in Europe’s capitals that the two-year window for negotiating Brexit is far

too short. Britain created two new government departments to handle Brexit and international trade, led

by David Davis and Liam Fox, two prominent “Leave” campaigners in the referendum. Davis has recruited less than half of the 250 staff he needs for the Brexit department, the Sunday Times said, while Fox has fewer than 100 of the 1,000 trade negotiators he is seeking.

Elections in France in May, and Germany in September, could also push back the timing of Brexit. Any delay to the process, however, is likely to draw criticism from the pro-leave side of May’s Conservative party, with senior members such as John Redwood calling for a quick departure from the bloc.

Yemeni Army Pushes Al Qaeda Fighters from Two Cities Yemeni army forces backed by Arab coalition aircraft killed about 40 suspected al Qaeda fighters on Sunday as they fought their way into two militant strongholds in eastern Yemen, a local official and residents said.

Al Qaeda in the Arabian Peninsula (AQAP) has exploited a 16-month-old civil war between the internationally recognized government of President Abd-Rabbu Mansour Hadi and the Iran-allied Houthis to capture a 600-km (370mile) stretch of Arabian Sea coastline in eastern Yemen.

Hadi’s troops and forces from the Saudi-led Arab coalition drove

out AQAP - widely considered the most dangerous branch of the global militant group - from the Hadramout provincial capital of Mukalla in April. The militants have since repeatedly withdrawn from and then returned to Zinjibar and Jaar, the capital of Abyan and the province’s second largest city.

Abyan Governor Al-Khader Mohammed al-Saidi, speaking by telephone from Jaar, told Reuters that three brigades took part in the operation and that troops have “taken complete control of both cities”. Saidi said that 40 AQAP members were killed in both cities, while the rest fled. He said three

soldiers were killed and several were wounded in the operation.

“We met with citizens and fighters and both were happy to be free under government authority,” the governor said. Residents said an AQAP suicide bomber blew himself up in a car trying to attack troops in Zinjibar, a city of some 100,000 people, but no one else was hurt.

Saudi Arabia and its Gulf Arab allies intervened in the civil war in Yemen in March last year after the Houthis advanced on his headquarters in the southern port city of Aden and forced him to flee to Riyadh.

The war has killed more than

6,500 people, displaced more than 2.5 million and caused a humanitarian catastrophe in one of the world’s poorest countries. Coalition bombing had mostly focused on the Houthis and troops loyal to former President Ali Abdullah Saleh, but began turning their attention to AQAP earlier this year when forces funded and trained by the United Arab Emirates launched a surprise attack to win Mukalla. But an armed push toward Qaeda-held towns in Abyan and neighboring Lahj province proved more difficult, and militants launched repeated suicide attacks against Yemeni forces.

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T H I S D AY MONDAY AUGUST 15, 2016

OFFICE OF THE EXECUTIVE GOVERNOR OF BORNO STATE 365 Days Without 'Mazan Fama', Borno's late Deputy Governor

T

oday marks one year since the shocking demise of His Excellency, Zannah Umar Mustapha, the Deputy Governor of Borno State; my brother, friend and my 'Mazan Fama' (the reliable warrior) with whom I worked so perfectly in 4 years and 78 days.

Together in 2011, we took-over and confronted the monstrous Boko Haram insurgency and other developmental challenges in Borno State. We were a team that bonded from the starting line, we related with mutual respect and clear understanding of each other's thoughts. We shared the same vision and worked steadily towards that vision, complimenting our strengths and weaknesses in every step of the way.

He will forever be remembered for his completeness in service to the good people of Borno State.

Allah Ya jikan shi da Rahama!

His Excellency, LATE ZANNAH UMAR MUSTAPHA

KASHIM SHETTIMA Governor of Borno (On behalf of Government and the good people of Borno State)

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Dogara Directed Me to Be Reporting to Omisore, Abdulmumin Alleges Apologises for role in Speaker’s election Damilola Oyedele in Abuja Thee are indications that the face-off in the House of Representatives is far from over emerged yesterday following another allegation by the erstwhile Chairman of the Appropriation Committee, Hon. Jibrin Abdulmumin, that the Speaker of the House, Yakubu Dogara, directed him to be reporting to a former senator and chieftain of the Peoples Democratic Party (PDP), Senator Iyiola Omisore.

He also alleged that the standing committee chairmen were required to swear to an oath of allegiance to Omisore, whom he said Dogara forged a ‘weird relationship’ with during their time in the sixth assembly.

In his letter to the Chairman of the All Progressives Congress (APC), Chief John Odigie- Oyegun, dated August 12, 2016, Abdulmumin apologised for his role in the emergence of Dogara as Speaker, but warned that allowing the Speaker to maintain his seat is dangerous to the party.

In a copy of the letter, Abdulmumin said Omisore is Dogara’s godfather, and alleged that the Sokoto State Governor, Aminu Tambuwal, opposed his appointment as Chairman of Appropriation Committee.

“During the build up to the appointment of committee Chairmen, I had a terrible disagreement with him. I stayed far away from him. I was in London when he insisted he wanted to see me. He came to my hotel room and we talked for hours. I gave him a lot of advice but I never knew it was getting in from one ears and out from the other. He was more interested in telling me about the forces who didn’t want me to be appointed Chairman of appropriation committee as if I cared. He mentioned former Speaker and present Governor of Sokoto State Aminu Waziri Tambuwal, as one,” he said in

the letter.

“I dashed him (Dogara) money, he thanked me and left.

The following day, he pleaded to me to join him at a house in London. I went and I saw him seated very comfortably with Omisore. It was there he said he was going to appoint me Chairman appropriation and I should be reporting to Omisore!

I was completely shocked. A nice lunch was served, we eat and we left. At least there are CCTV in London,” Abdulmumin added.

The lawmaker alleged that he confided in a ‘highly placed person’ who advised that he remain calm and concentrate on his job.

“My refusal to comply with such questionable instructions largely accounted for the anger of Mr. Speaker towards me. It was much later that I realised that Omisore had adopted Dogara as a god son since their days as Chairman appropriation andHouseservicesinthesixthassembly respectively,” he added.

The lawmaker has however shied away from responding to allegations that the Economic and Financial Crimes Commission (EFCC) might have revived and concluded plans to re-arraign him over a N15 billion money laundering case in October 2011.

Abdulmumin and his firm, Green Forest Investment Ltd, had been charged alongside a former Governor of Nassarawa State, Mr. Aliyu Akwe Doma, and seven others in relation to charges of laundering stolen state funds totalling over N15 billion.

In December 2012, the EFCC removed his name from its amended charges.

The EFCC has also been petitioned by the National Youth Council of Nigeria (NYCN) to investigate the lawmaker’s role in the unscrupulous award of questionable contracts awarded by the National Commission for Refugees, Migrants and Internally Displaced Persons in September

No Room for Laxity in Military, Buratai Warns The Chief of Army of Staff, Lt.Gen. Tukur Buratai, has charged personnel of the army to be committed and keep fit always, saying there is no room for laxity in the military.

Buratai gave the charge while addressing 200 cadets of Regular Course 63, who had concluded their training, shortly after inaugurating the Nigeria Defence Academy (NDA) base camp in Jos. He also reminded them that the military had done the country proud and must be ready to continue to make the military proud.

“I want to tell you that in the military there is no room for laxity.

Whatever we do, we must do it with precision and a deep sense of commitment.

“One thing that is associated with the military, apart from discipline is exercise to keep fit always.

“I expect you to be at the top at all times, physically,’’ Buratai charged.

The chief of army staff stressed that with current security challenges

in the country, especially insurgency in the North East; officers and men were expected to be committed, precise and physically fit.

“The reality is that in the Northeast you will encounter unexpected ambushes and indeed Improvised Explosive Devices (IEDs), where the Boko Haram terrorists operate.

“You must be conscious of these threats in the theatre and wherever you operate at the end of your training here.

“And after being commissioned, I am sure some of you will find your way to the North East. So, you better make up your mind.

“You are going to be relied upon as commission officers, you must maintain that standard of discipline, you must remain physically fit, no room for any laxity,’’ he told the cadets.

The News Agency of Nigeria (NAN) reported that the training the cadets underwent in the base included field, leadership and adventure, a mock war, depicting the situation in the North-east.

2014.

The House has been embroiled in crises following the removal of the Abdulmumin by Dogara.

Abdulmumin, employing a scorched earth policy after his

ouster, accused Dogara, Deputy Speaker, Yussuff Sulaimon Lasun, Chief Whip, Alhassan Ado Doguwa and Minority Leader, Leo Ogor of allocating N40 billion to themselves out of the N100 billion appropriated

for the National Assembly, and making “senseless’ insertions into the 2016 budget.”

He also petitioned the EFCC, the Independent Corrupt Practices and Related Offences

Commission (ICPC), and the Nigeria Police, demanding the arrest and prosecution of the speaker, three principal officers, and nine committee chairmen for corruption and abuse of office.

‘BECAUSE WE ARE INVOLVED’

Wife of the Vice President, Mrs. Dolapo Osinbajo (middle); flanked by the Deputy Governor of Lagos State, Dr. Oluranti Adebule (left); and Wife of Lagos State Governor, Mrs. Bolanle Ambode, displaying the ‘Get Involved logo’, the president’s wife project, in Lagos...weekend

Corrupt People Trying to Gag Buhari’s Administration, Says Shehu The Senior Special Assistant to the President on Media and Publicity, Garba Shehu, has said an “army of corrupt people” want to gag President Muhammadu Buhari’s attempt at resuscitating the comatose economy which he inherited.

In a piece titled: ‘In defence of President Buhari’, Shehu said some Nigerians have been unfair in their criticisms of the current administration.

He said Buhari had succeeded in trouncing Boko Haram, describing it as a feat that the United Kingdom and United States could not achieve.

Shehu appealed to Nigerians to be hopeful, saying things will get better.

“The last couple of weeks have witnessed the heaviest public criticism of the Buhari administration since he came to power after inflicting a heavy defeat on the Peoples Democratic Party (PDP) and their candidate Dr. Goodluck Jonathan.

“Much of it has been on account of the unresolved social and economic problems facing

the country.

“Unfair criticism of the Buhari administration especially on account of escalating prices of foodstuff and the liberalisation of the currency exchange needs to be challenged before it overshadows the commendable job the president has done in fighting terrorism as part of overall effort to secure the country, reduce corruption and yes, arrest the economic slide before it sinks the nation.

“Everyone living in Nigeria knows that there is a major movement against corruption as part of the ongoing change. This war has forced the return to the treasury of billions of naira and millions of dollars stolen by past officials.

“On account of this war, government suspects that the biggest trigger of the opposition to the change agenda is the army of the corrupt. With the enormous resources at their disposal; money that is unearned, these forces are ready to throw in everything to gag the Buhari administration,”

he said.

Shehu, according to an online portal, The Cable, said while some Nigerians have not appreciated the efforts of the president, the same cannot be said abroad.

He accused the media of giving more attention to the negative aspect of the government.

According to him “Wherever they go these days, in London, Dubai, Beijing, Washington, New York or Tokyo, Nigerians get the good feeling of being asked the question, how is President Buhari?”

“The lavish praise the president gets abroad and the wide public support he enjoys among the lower segment of the population is, by contrast, given a short shrift in the local press, mainstream and online.

“At its lowest point, this unambiguous media rebuke has created a wave of sympathy for anyone with a view that runs counter to the president’s.

“Boko Haram terrorist leader, Shekau or the pipeline vandal from the Niger Delta region is more likely to get newspaper front

pages today than the Minister of Labour, Chris Ngige or the Finance Minister, Kemi Adeosun, talking about jobs creation in the economy.

“I don’t say that media criticism is not reflective of the feeling of the citizens. “President Buhari has himself on numerous occasions admitted that the change mantra has brought with it pain and suffering which he likened to the pains of labour. It is a passing phase.

“When they ask the question, is this the change we voted for? The critic forgets how far we have come from the scam-tainted years of the PDP rule.

“How many people have given a thought to the possibility of Nigeria doing something that the combined strength of Europe andAmerica have failed to do?

“There are many today who take for granted the declared victory over the Boko Haram terrorists, forgetting the reign of the bomber who made it almost impossible for regular attendance in churches and Mosques in many of our cities, including the Federal Capital Territory Abuja.”

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Buhari is the Cause of Nigeria’s Economic Woes, Say Fayose, Fani-Kayode Onyebuchi Ezigbo in Abuja and Olakiitan Victor in Ado Ekiti Ekiti State Governor, Mr. Ayodele Fayose, and former Minister of Aviation, Mr. Femi Fani-Kayode, have attributed the difficult economic situation Nigerians are currently facing to the wrong policies of the All Progressives Congress (APC) led by President Muhammadu Buhari.

In separate statements they issued yesterday, the two chieftains of the Peoples Democratic Party (PDP) said the economic situation of Nigerians had gone worse since the inception of the present administration led by Buhari.

Specifically, Fayose said Nigerians were suffering under the APC government because “the country is in the hands of wrong managers who do not know what to do and out of nepotism, not ready to be assisted by those who know.”

The governor said: “Presently, Nigerians are suffering, hungry and angry because the APC federal government has run the country aground,” adding that: “Nigeria has gone beyond recession, the economy has collapsed completely and painfully, those who should revive the economy do not have any clue as to what to do.”

In a statement issue in AdoEkiti by his Special Assistant on Public Communications, Lere Olayinka, Fayose said Nigeria was experiencing the worst form of nepotism in the history of the country, saying: “Nepotism is the reason our president discarded competent people in his party that should be running the government with him and opted for his relatives, friends, in-laws and very close associates.

“The only qualification to hold key positions in the presidency is to know a certain nephew of the president or be a member of his family, that’s is nepotism and what nepotism breeds is incompetence.

“The most influential person in the presidency today is said to be one Mamman Daura, who

is a nephew of the president.

Personal Assistant to President Buhari is said to be the son of Daura while the State Chief of Protocol is said to be married to Daura’s daughter,” “It is also the height of nepotism that apart from just two, all security chiefs and heads of all the paramilitary agencies in Nigeria, as well as all the political-heads overseeing all the military and paramilitary arms and agencies are. from the North of Nigeria.”

He said President Buhari was obviously being tormented by fear of the unknown, which he described as the main reason people take to nepotism.

“As a leader, you don’t need to fear anything. But the moment a leader peeps into the future, realising that his lack of capacity could have consequential effects on him, such a leader will definitely resort to nepotism to protect himself.

“Also, the moment a government is unable to guarantee the existence of the people, it must resort to nepotism to protect itself and that is exactly what is being witnessed in Nigeria, especially with the lopsided appointments of security chiefs and key functionaries of the federal government,” he said.

While lamenting the parlous state of the country’s economy, Fayose said: “Most of those people who aided the emergence of Buhari must be having a rethink now, but it is too late!

“Interestingly, political affiliation has nothing to do with hunger, poverty and lack.

“Exchange rate was less than N200 to $1 when President Buhari took over power, as at today, it has gone beyond N400 to $1 and naira is still undergoing a free fall. One bag of rice was less than N8,000 as at May 2016, it is now N20,000.

Kerosene is now beyond the reach of the masses.

“Nigerians voted for change because the APC promised them solutions to the country’s problems, but all we hear every day from the APC federal government are complaints

Bank Promises to Promote Innovativeness in Financial Sector Ugo Aliogo Sun Trust Bank has expressed its desire to promote innovativeness and high quality retail banking in the financial sector.

The bank in a statement signed by the Chief Executive Officer, Muhammad Jibrin, stated that as part of efforts improve the growth of the sector in the country, it would deploy the use of technology and a new way of thinking to “provide banking services to many people in Nigeria for whom access to a bank account has

previously been impossible.”

Jibrin in the statement, expressed hope that the developments at the bank would have far-reaching influence in the sector in the coming years, adding that: “Our journey as a bank since 2009 details the courageous decisions and heroic selfsacrifice of all the people that made SunTrust assent possible.”

Meanwhile, the Central Bank of Nigeria (CBN) on September 15, 2015 granted the first new commercial banking licence to be awarded for 15 years to the bank, while the bank commenced business today.

upon complaints as if Nigerians elected a government of complaints.

“Obviously, the APC government has failed Nigerians and the president has resorted to putting his immediate family members and close associates in key government positions to protect himself from the fear of the unknown that has enveloped him.”

On his part, Fani-Kayode said in the last one year and two months, Nigeria had witnessed a reversal of all the milestone recorded by the county in the area of development and well-being of the people are concerned.

In a statement he issued in Abuja, the former minister who was the spokesman of the PDP presidential campaign organisation of former President Goodluck Jonathan, said the country was fast turning to a police state where freedom of speech is no longer guaranteed.

“In a year and two months,

graduate and non-graduate unemployment has soared, banks and companies are retrenching, manufacturers are closing their factories and plants, industries are collapsing, farmers are complaining and businessmen and traders are crying. that is ‘Mai Chanji’for you. Yet it gets worse, ‘ he said.

Fani-Kayode said there was a consensus among economic and fiscal experts that if there is no major intervention through devaluation before Christmas, the “naira would have depreciated to, at best, N500 to a dollar.”

In one year and two months of ‘”President Buhari and his APC’s ‘Mai Chanji’, Nigeria has become a very different place to what it was before. Our nation has, so to speak, really been ”transformed.

“A few examples will suffice. a year two months ago, we were the largest producer of oil in Africa but thanks to ‘Mai Chanji’ that is no longer the case. A year

and two months ago, we were the number one destination for foreign investment in Africa but thanks to “Mai Chanji” that is no longer the case.

“One year and two months ago we were the largest economy in Africa but thanks to “Mai Chanji” that is no longer the case. Sadly it gets worse.

“In the space of one year and two months the naira has depreciated from N160 to one dollar to N410 to one dollar.

“If there is no change in fiscal and monetary policy anytime soon, there is a consensus among economic and fiscal experts that

by Christmas the naira would have depreciated to, at best, N500 to one dollar.

“One year and two months ago Nigerians could buy a bag of rice for N8000 but today they are paying N20,000 naira for that same bag of rice.

“As Pastor Reno Omokri, a former aide to President Jonathan said, if the minimum wage is N18,000 where are the people

meant to get the money to buy rice and other basic food commodities for their families?

“One year and two months ago we were generating 5,000 megawatts of power for the electrical grid but today we are generating less than 2,000 megawatts.

“Again one year and two months ago we were making large sums of money from the export of our crude oil but today oil production has been reduced by one third and we are importing crude oil and refined products from the neighbouring nations of Niger and the Republic of Chad.

“One year and two months ago the Nigerian Stock Exchange was recovering and on the rise and our banking sector was flourishing and liquid. Today the stock exchange has lost N1.6 trillion in the last 14 months and our banks have become nothing but weak and barren money-lender stalls and pawn shops. That is “Mai Chanji” for you, “he said.

PDP ZONAL MEETING

L-R: South-east Vice Chairman of the Peoples Democratic Party (PDP), Chief Austin Umahi; Deputy Senate President, Senator Ike Ekweremadu; Governor Ifeanyi Ugwuanyi of Enugu State; Governor David Umahi of Ebonyi State; Senator Sam Egwu and the former Governor of Anambra State, Mr. Peter Obi, at the Zonal Executive Committee meeting of the party in Enugu....yesterday

PDP Spokesman: Kogi Leaders Settle for Ologbondiyan, Kabir Usman Ahead of the August 17, 2016 national convention of the Peoples Democratic Party (PDP), leaders and major stakeholders of the party in Kogi State have narrowed their choice of candidate for the position of the party’s National Publicity Secretary to frontline journalist, Hon. Kola Ologbondiyan, and one time zonal Legal Adviser (North-central) of the party, Kabir Usman.

The leaders who held several meetings at the weekend, were said to have based their decision on education, professional proficiency, public and media acceptability, clean record and comportment Ologbondiyan is former Deputy Editor and former Group Political Editor of THISDAY Newspapers as well as Special Adviser (Media and Publicity) to former Senate President, David Mark.

He commands strong acceptability among stakeholders

at both the state and national levels as well as in the wide spectrum of the conventional and new media.

Usman on the other hand is a lawyer and was North-central Zonal Legal Adviser of the party.

It was gathered that though Usman was former zonal official of the party, the leaders are more inclined towards Ologbondiyan, given his professional background as well as direct participation in PDP mobilisation and government activities at very high levels. This is more so as they judged that Usman as zonal legal adviser does not have direct experience in publicity and image making processes.

A source at the meeting of the leaders yesterday hinted that though the leaders have not yet endorsed any of the aspirants, majority of them favour Ologbondiyan principally for his professional expertise, as they insisted on

ensuring that the state offered its professional best to the party and the nation at large, knowing the specialised demands of the critical position to national politics.

According to the source, “Our leaders have been meeting on this issues and have narrowed on Ologbondiyan and Usman.

Both of them are good party men, professionals in their respective fields and have the required carriage and comportment.

“Though they have not endorsed any of them yet, many of the leaders are inclined towards Ologbondiyan largely because of his background as a media and publicity expert. You know Ologbondiyan was Deputy Editor and also Political Editor of THISDAY Newspapers. He was also spokesperson and image-maker to a Senate President. He did very well in these assignments. You can’t overlook that.

“On the other hand, Usman is also an expert but in legal profession. If we were talking of the National Legal Adviser, nobody would have been contesting with Usman but we are talking of the National Publicity Secretary here.

We need somebody who has the cognate professional proficiency, contact and goodwill in the media and publicity industry, and for now, our leaders are more inclined towards Ologbondiyan for the position.”

It was gathered that the leaders widened their consultation among very strategic stakeholders within the state to arrive at their decision, which has fast gained acceptability among other stakeholders of the party from other states of the North-central where the position of the National Publicity Secretary has been zoned.

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Falana: Inserting N100bn Constituency Projects in 2016 Budget, Clear Case of Forgery Says APC government already covering up corruption cases Gboyega Akinsanmi A human rights lawyer, Mr. Femi Falana, yesterday said the decision of the National Assembly to unilaterally insert constituency projects worth of N100 billion in the 2016 budget was “a clear case of conspiracy, fraud, forgery and corruption.”

Falana, a Senior Advocate of Nigeria (SAN), lamented that the federal government under the leadership of President Muhammadu Buhari had started covering up cases of corruption like the Peoples Democratic Party (PDP) government.

He expressed the view in a statement he issued yesterday, citing different sections of the 1999 Constitution and Fiscal Responsibility Act to buttress the fact that padding of 2016 budget was illegal and unconstitutional.

The Speaker of House of Representatives, Hon. Yakubu Dogara, had defended the decision of the lower chamber to unilaterally insert 2,000 items into the 2016 budget after former Chairman of Appropriation Committee, Hon. Jubrin Abdulmumin, accused the principal officers of padding the budget.

Abdulmumin alleged that the speaker had allocated projects worth N4 billion to his constituency, leaving 359 other members of the lower chambers “to share the remaining N36 billion out of N40 billion unilaterally inserted in the budget.

But in a statement he personally signed, Falana alleged that about 20 legislators in both chambers of the national assembly altered the budget by “inserting constituency projects worth N100 billion in the 2016 budget. Both the Senate and the House allocated to themselves N60 billion and N40 billion respectively.”

The senior advocate noted that if “it is established that the alterations were effected after the passing of the budget by both houses the issue at hand goes beyond padding. A clear case of conspiracy, fraud, forgery and corruption can be established against the suspects.”

He explained that padding “takes place when legislators resolve to rewrite the budget by introducing new items outside the estimates prepared and presented to them by the president.

“The controversy over the padding of budget was laid to rest with the enactment of the Fiscal Responsibility Act, 2007 which has imposed a duty on the finance minister to source input from certain institutions including the national assembly during the course of preparing the budget.

“That is when negotiations and horse trading with the executive by the legislators is allowed. But neither the Constitution nor the Fiscal Responsibility Act has empowered the National Assembly members to rewrite the national budget by including constituency projects whose costs are arbitrarily fixed by the legislators.”

Globacom Records Five Million New Subscribers in One Month National telecommunications operator, Globacom, recorded 5,063,895 new susbcribers in the last 12 months. The figure represents 68 per cent of all additional GSM lines in the country in the last one year.

Airtel added 2,414,082 new customers, while aMTN and Etisalat had their GSM subscriber figures whittled down.

Etisalat lost 382,336 customers, while MTN’s subscriber base was depleted by 4, 403,344 in the last one year.

Telecom industry statistics published on the website of Nigerian Communications Commission (NCC), showed that a total of 7,477,977 new lines were activated between June 2015 and June 2016, with Globacom recording a whopping 5,063,895 new susbcribers, while Airtel added 2,414,082 during the period.

Details of the NCC report showed that with the feat achieved

by Globacom, the data grandmaster has now grown its market share from 21 per cent to 24 per cent with 36.3million subscribers at the end of June, 2016.

But, MTN which once had over 45per cent share of the market had this reduced to 39 per cent at the end of June with 58.4million subscribers.

Globacom had a total of 31,256,677 customers by June 2015, whereas MTN had 62,813,111.

While Glo has continued to narrow the gap between it and MTN, it has created a substantial

gap between it and Airtel. Both Glo and Airtel were at par in terms of market share only three months ago with each having 21 per cent.

But Airtel, whose subscriber base stood at 29,564,766 at the middle of last year, had 31,978,848 customers at the end of June 2016. This still keeps it at 21per cent share of the GSM market. On its part, Etisalat had 15 per cent share with 22,469,896 customers at the end of June, 2016, down from 22,852,232 at the same time last year.

Globacom’s lead in the voice segment of the industry complements its status as clear leader in the data market where it has for the last one year remained tops in new internet subscriber acquisition.

In June 2016 for instance, while the industry gained a total of 318,008 new internet subscribers, Globacom alone had 272,674 of the new customers. In essence, Globacom accounted for about 86 per cent of the total internet subscriber acquisitions in the industry in the month of June.

Industry analysts noted that Globacom’s unparalleled growth even in the midst of shrinking economy is the dividend of the massive network upgrade it carried out recently and its commitment to offering innovative products and services.

Globacom, which for the past one and half years had been the preferred data services provider, it also emerged the first choice of subscribers in voice services.

Under section 81 of the Constitution, Falana pointed out that only the president “is given the exclusive power to cause the budget to be prepared. Upon the preparation of the budget by the executive, it shall be laid or presented to the National Assembly by the president.”

He argued that in debating the Appropriation Bill, the legislators might reduce the estimates if there “are errors or inflation of the cost of items or if certain items provided for has been purchased before or for any other genuine reasons.

“But the National Assembly cannot increase the budget in any manner whatsoever. So, the unilateral introduction of constituency projects is totally illegal

and unconstitutional. By introducing new items, the National Assembly has usurped the powers of the President to prepare the budget.

“In other words, the legislators would have prepared the budget and laid it before themselves and then passed it. That is a negation of the doctrine of separation of powers. The appropriation bill or amended appropriation bill is not like other bills. Whereas other bills shall emanate from either of the two houses, money bills shall emanate from the President.

“So a money bill is a special bill which cannot be subjected to additions by the national assembly because it has no power to prepare it. Padding is an unconstitutional infraction when the estimates are

increased on the floor of the House.

The infraction becomes criminal when the Appropriation Bill is altered by a few legislators after it had been passed by both houses of the national assembly.”

He, therefore, said the speaker claimed that the padding of the 2016 was not a criminal offence, noting that Dogara’s confidence “is likely to have been anchored on the statement credited to the presidency that the budget was not padded in any material particular.

“Before then, the All Progressives Congress (APC) had decided to follow the discredited path of the PDP by treating the serious allegation of monumental corruption as a family affair of the ruling party.”

But unlike the PDP, Falana noted that the APC government failed “to act timeously. In other words, a cover up is no longer possible at this stage as the cat has been let out of the bag. For now, Dogara has no choice, but to defend the criminal allegations.

“Contrary to Dogara’s misleading contention, the Legislative Houses Powers and Privileges Act has not conferred immunity on him with respect to allegations of criminal offences. Since the immunity conferred by the Act is limited to contributions to debates by members of the National Assembly, he cannot ward off the invitation of the Nigeria Police and the EFCC to react to the criminal allegations leveled against.”

MIXING HOSPITALITYWITH UNIONISM

R-L: President, Nigerian Labour Congress (NLC), Ayuba Wabba; Minister of Labour and Employment, Dr. Chris Ngige; President, National Union of Food, BeverageandTobaccoEmployees(NUFBTE)\VicePresident,NLC, LateefIdowuOyelekan;andManagingDirector,NigerianBottlingCompany(NBC),Mr. GeorgePolymenakos,duringtheinaugurationofthesecond phaseoftheFoodUnionHotelsandSuitesatOjodu-Berger,Lagos....weekend KolawoleAlli.

Awolowo: Nigeria Needs Transformational Exports to Earn Foreign Exchange James Emejo and Chukwuemeka Maduagwuna in Abuja The Executive Secretary/Chief Executive, Nigeria Export Promotion Council (NEPC), Mr. Olusegun Awolowo, has said the country requires “transformational” export projects to earn meaningful foreign exchange.

He spoke against the backdrop of increasing agitation over the recent ban on the country’s beans by the European Union, noting that earnings from beans was even less than $300,000 over three years.

The produce was however, not banned in the United States of America.

He, further decried the present level of exports which had fallen to only about $1.6 billion in 2015 from $3 billion in the previous year.

Speaking in an interview with THISDAY in Abuja, the NEPC boss said the country must move away from the illusion that oil prices would soon bounce back but rather do more to increase productivity and productive capacity.

Nigeria’s export earning had been badly affected by low oil prices, and worse still, the

manufacturing sector is almost in comatose largely as a result of high operation costs and lack of basic infrastructure, especially electricity.

Industries’ capacity to boost production is further hampered by high interest rates which had also driven up the cost of funds.

Awolowo, however maintained that the country must step up productivity in order to export.

But the country’s export capabilities are often times limited by international standards requirement which some of its products fall short of.

Speaking on the country’s current export status, he said: “We are not improving. The figures are very low and we are moving from almost $3 billion in 2014 to now less than $1.6 billion in 2015 and it’s even gong to be lower. What are the factors responsible for it?

Of course, low oil prices, and then manufacturing is almost dead.

“Now, if we don’t produce, we cannot export, it’s what is produced and what is manufactured and grown in Nigeria that we can export. When you are not growing, when you are not replanting cocoa

trees, you are not replanting cashew trees, how do you want to export cashew and cocoa? It’s not possible?”

He said: “Nigeria has to increase productivity and productive capacity. We can’t just sit and wait for oil prices to rise again, those days are gone. Industry has to come alive again in Nigeria.

“What’s the value of the beans being exported to the EU in any case?

We tracked it from three years and it’s under $300,000-that’s not what this country is looking for, we are looking for transformational export projects that can earn foreign exchange to the country.”

Nevertheless, he said government was taking key initiatives to stimulate productivity through the empowerment of women who are believed to be better entrepreneurs.

He said a recent policy pronouncement that 20 per cent of all government procurement should go to women-owned businesses would improve productivity and jump start the economy.

Awolowo said: “We tend to mix it up and say we are importing too much or we are not exporting

enough. I have always said that the problem with Nigeria is not the price of crude oil and other things, we don’t have control over that. The problem with Nigeria is that Nigeria has failed to export but then when you look at the figures, what we are even importing is not so bad on our GDP. “I give an example of the United Kingdom, it’s an island that sits on water and they still import bottle water from France; so what does that tell you, that’s not bad but your import must be smart.

“You should import things that are gong to help you to export. Don’t import just useless things into the country. We can’t be importing things that we can produce. We import things that can help us add to what we can produce and export.”

He added that NEPC would leverage on its partnership with the International Trade Centre (ITC) to provide Nigerian entrepreneurs access to the global market as well as furnish them with the certification requirements of each country to boost their export capabilities.

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Tinubu: I’ll Ensure APC Conducts Credible Primaries in Ondo Says he reserves right to support any aspirant Gboyega Akinsanmi

The National Leader of All Progressives Congress (APC), Senator Bola Tinubu, yesterday said he would do everything in his power to ensure the party’s governorship primaries scheduled “to hold on August 27 are free and fair.”

Tinubu, former governor of Lagos State, also said he reserved the right to support any aspirant seeking nomination of the APC

in the forthcoming preliminary election contrary to what some critics had said.

He stated this in his reply to a letter by one of the aspirants, Dr. Tunji Abayomi, who alleged that the APC national leader planned to impose another aspirant, Mr. Olusegun Abraham, on the people of Ondo State.

In a reply signed by his Chief of Staff, Mr. Sunday Dare, the APC national leader faulted all claims contained in Abayomi’s letter,

S’East PDP Leaders Pass Vote of Confidence on Ekweremadu, Adopt Akobundu for Organising Secretary Christopher Isiguzo in Enugu Irked by his ongoing trial for alleged forgery of Senate Standing Rules among other alleged clandestine moves to oust him from his present position, leaders of the Peoples Democratic Party (PDP) in the South-east rose from a closed door meeting in Enugu yesterday, declaring their total support for the Deputy Senate President, Ike Ekweremadu, vowing to stand with him throughout the period of his travails.

The leaders also formally zoned party positions allotted to the zone to the various states with the position of National Organising Secretary zoned to Abia State where former party National Vice chairman, Col. Austin Akobundu (rtd) emerged as the sole candidate.

The meeting which was attended

by Ekweremadu, Enugu and Ebonyi State governors, Ifeanyi Ugwuanyi and David Umahi; Senators Sam Egwu, Chuka Utazi, House of Representatives members, members of the party’s board of trustee from the zone, and former governor of Anambra State, Peter Obi also resolved to put take active part in the forthcoming convention of the party billed to take place at Port-Harcourt, River State.

The embattled governor of Abia State, Okezie Ikpeazu and leaders from the state were however

conspicuously absent.

While passing an “absolute” vote of confidence on Ekweremadu, the leaders said they were formidable and united for an impressive show at the convention.

Addressing journalists at the end of the meeting, the National Vice Chairman of the party in charge of South-east, Austin Umahi, said Ekweremadu was a true son of Igbo and that the people were proud of his effective representation of the zone and the PDP in the National Assembly.

“We support him in totality, we will continue to pray, by the special grace of God he has paid his dues and is paying his dues.

We are proud of him, he is a very good ambassador of the South East and we will not and will never be intimidated.

“For the South-east PDP governors, we are proud of them. When you look at so many indices you will agree with me that they have done very, very well,” he said.

Umahi said the leaders have harmonised poisitions zoned to South-east amicably and that each state in the zone got a position.

“We the South-east we have decided to come out very strong, by the special grace of God, there is harmony, we have decided to zone the posts of South-east to all the states,” noting that they were very, very mature in doing it.

Crisis Brews in Ekiti PDP over Speaker’s Refusal to Swear-in Lawmaker-elect Olakiitan Victor in Ado Ekiti Crisis of confidence is now brewing in the Ekiti State chapter of the Peoples Democratic Party (PDP) over the refusal of the Speaker of the House of Assembly, Hon Kola Oluwawole to inaugurate Toyin Obayemi as the member representing Ado Constituency 1 as directed by the court.

The Federal High Court sitting in Ado Ekiti in a judgment delivered on July 4 by Justice Taiwo Taiwo, had sacked the occupant of the seat, Hon Musa Arogundade, as a lawmaker and ordered the Speaker to swear in Obayemi immediately because he was the valid candidate for the assembly poll.

Tension rose on August 2 when Obayemi appeared for inauguration after serving a copy of the judgment and Certificate of Return on the

assembly was blocked from entering the chambers and was bundled out of the complex by security officers on the order of the Speaker.

However, the Speaker averred that the assembly had refused to swear Obayemi in on grounds that the PDP has filed a notice of appeal against the judgment which sackedArogundade from office.

A group in Ekiti PDP, Ado Ekiti Progressive Movement (APM), has called on the Speaker to obey the court order and inaugurate Obayemi with immediate effect in line with the verdict and prevent anarchy in the state.

At a meeting held by members of the group at Ado Ekiti Constituency 1 on Saturday on the refusal of the assembly authorities to admit Obayemi, APM Chairman, Kunle Ogunjobi and Secretary, Ganiyu Ogunado said the rule of law is on trial in the state.

noting that the letter was woefully misplaced and inappropriate.

According to him, “your letter to me is an impetuous display unbecoming a man of your status and a man seeking the highest leadership position in his state. And as a lawyer, you well know that one cannot seek equity without having done equity.

However, Tinubu assured Abayomi and other aspirants in the contest that the APC governorship primaries would be credible, free and fair, noting that he would support any candidate that would emerge from the process.

He also assured that he would do everything within his power “to ensure the primaries are free and fair and that there will be no undue influence on the process.

The candidate who can garner the most support and votes will win.

“Since its inception, the APC has run the cleanest and most

transparent primaries in the history of this nation. The just concluded primary in Edo is further evidence of this. My dear friend, I leave you free to run and win the primary.

If you do, I shall congratulate you and support you in the general election.”

He described Abayomi’s complaint about a purported meeting he had to discuss the coming primary in Ondo as baseless and unfounded, arguing that even though he endorsed an aspirant, Abayomi lacked power to deny him and other APC leaders the right to assemble and discuss.

He also urged all aspirants to be at ease, though he said he reserved the right “to support any candidate I wish because no one has the right to take this away from me. You must respect my rights as well and leave me to my own conscience to support who I will support and to show interest in

whom I wish.”

Tinubu added that if the purported meeting Abayomi claimed he had “to discuss the forthcoming primaries in Ondo State had anointed him, I doubt you would have written the first word of the letter you sent to me.

“If not mistaken, I believe I am a member of the APC. I have a right and duty to support the candidate who I believe will best represent the party. What your letter is really saying is that if I do not support you I should keep my mouth shut.

“I am a democrat. I am ready to for the chips to fall where they may after and open and fair primary in Ondo. Instead of welcoming this, it appears you are afraid of it. Instead of fighting me who is but one man with no vote, you should be fighting for votes and support,” the national leader said.

He accused Abayomi of creating a wrong impression on

his decision to support President Muhammadu Bahuri in the 2015 presidential election, which he said, was indicated a letter Abayomi wrote to him last week.

He said: “You assume too much credit and should be more guarded in your assertions. As a veteran in the political arena, I do not make important decisions lightly. I make final political decisions and calculations on my own after deep reflections and consultation with many people from many perspectives.

“I trust my own political counsel more than yours and that I have numerous other advisors whose advice I weigh more than yours. After all, had you so much influence over me in the presidential election, it would mean you surely should have greater influence over me when it comes to the primary in your state.

QUALITY HEALTH CARE IN FOCUS

L-R: Chairman, Swiss Biostadt Limited and President Coscharis Group, Mr. Cosmas Maduka; Chairman, Senate Committee on Health, Senator Lanre Tejuosho; CEO, Siemens Nigeria, Onyeche Tifas; Minister of Health, Prof. Isaac Adewole; CEO, Siemens Healthcare, SubSaharan Africa, Mark Flint; and Chief Executive Officer, Swiss Biostadt Limited, Mr. Emma Ajayi, at the partnership launch between Siemens Healthcare and Swiss Biostadt in Abuja....recently.

Amosun Hosts First NUJ National Summit Ogun State Governor, Senator Ibikunle Amosun, is set to make history as he hosts the first Annual National Summit of the Nigeria Union of Journalists (NUJ).

Billed for August 16 to 18, 2016, the summit to be hosted in Abeokuta, the Ogun State capital, is the first of its kind and is focused on engaging all stakeholders of the Nigerian media space to discuss the past, the present challenges and the future of the Nigerian media industry.

Speaking on why he has graciously agreed to host the historic event, Amosun said: “It couldn’t have been otherwise since the history of the Nigerian media industry actually started here in Abeokuta.”

The governor added: “We in Ogun State are known for always setting the pace. Don’t forget that the first newspaper in Nigeria, Iwe Iroyin Fun Awon Ara Egba, was published in Abeokuta in the year 1859 by the renowned missionary, Henry Townsend.”

He added: “Even the idea of the

first television station in Africa was the brainchild of yet another great son of this Ogun State, our own revered Chief Obafemi Awolowo, the late sage who was then the Premier of the Western Region and has gone ahead to also publish the oldest surviving private newspaper in Nigeria, The Tribune Newspaper.

“So from whichever angle you may want to view it, Ogun State takes the lead in the history of the Nigerian media profession just as it does in so many other areas of human endeavor. It is therefore befitting that we naturally should be the host of the historic first edition of an annual National Media Summit.”

Organised by the national leadership of the NUJ in partnership with the Ogun State government, the three-day summit will have former President Olusegun Obasanjo, delivering a keynote address on media and national unity at the opening ceremony tomorrow. The event will also witness remarks from the Lagos State Governor, Akinwunmi

Ambode; Gombe State Governor, Ibrahim Dankwambo; Kano State Governor, Abdullahi Umar Ganduje; Bayelsa State Governor, Seriake Dickson; Sokoto State Governor, Aminu Tambuwal, and Abdulfatah Ahmed, Kwara State Governor.

There will also be remarks from the Minister of Interior, General Abdulrahman Dambazau (rtd) and Minister of Information and Culture, Alhaji Lai Mohammed, who is also the industry host, among several others.

Osinbajo, Ncube Headline The Interview Anniversary Lecture The Interview magazine has announced plans to mark its first anniversary with a public lecture and presentation September 6 in Abuja.

According to a statement issued by its Managing Director/Editorin-Chief, Mr. Azu Ishiekwene, the lecture, entitled, Why Start-ups Fail and Strategies to Save Them, “is designed to address one of the most topical and troubling issues of our time - how to create and sustain private-sector driven jobs.”

Ishiekwene said: “We have invited a broad range of stakeholders from Nigeria and

other economic engine rooms across the continent - including entrepreneurs, investors and regulators - to share their experiences and provide practical solutions. We’ll be sharing ideas about things that have worked and failed and also providing insights that businesses can use.”

The statement said the Vice President, Professor Yemi Osinbajo (SAN), has accepted to be the Special Guest of Honour, while South Africa’s leading publisher and CEO of The Mail and Guardian, Mr. Trevor Ncube, will be the Guest Speaker.

MONDAY AUGUST 15, 2016 • T H I S D AY

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Edo Guber: Ize-Iyamu Advises Youths to Remain Vigilant Obaseki accuses PDP of destroying his posters, bill boards

Adibe Emenyonu in Benin City The Pastor Osagie Ize-Iyamu Campaign Organisation has urged the youths, including students in Edo State, to remain eternally vigilant as the September 10 state governorship election draws nearer.

He urged them not allowed themselves to be used and dumped again by Governor Adams Oshiomhole and the All Progressives Congress (APC) for “their selfish political interest.”

The campaign organisation stated this in a statement issued yesterday while responding to on-going secret moves by the APC to financially induce the youths for “unholy and dirty” political jobs during and after the election.

The Peoples Democratic Party (PDP) campaign organisation said it was too late for APC to stop the willpower of the Edo people to punish the ruling party for subjecting them to untold hardship in the past seven and a half years.

It said PDP believes that one of the ways to guarantee peace and security is to properly direct the energy of the youths to productive ventures through job creation, saying the agenda of the party’s candidate in the election, Ize-Iyamu, if elected, is to create an

enabling business environment in the state that would attract honest investors to take advantage of all the Private Partnership Programme (PPP) initiatives for the benefit of the youths.

Condemning Oshiomhole for wasting the state financial resources for a political aspiration of the APC governorship candidate, Godwin Obaseki, Ize-Iyamu campaign organisation said a government that refused to recognise the youths for nearly eight years cannot be trusted.

According to the organisation, “In the last seven and a half years, the APC-led government in the state regarded our young men and women as workers that must be used and dumped. They cannot now come around, few weeks to the election, and try to induce them for their dirty political jobs.

We must say no to them because they don’t mean well for us.

“Ize-Iyamu believes strongly that our youths are today’s citizens and they must be recognised for their potential to make amazing changes in the state. Addressing young people’s needs and aspirations is vital for both social and economic progress of the state.

“The Oshiomhole-led APC government has done nothing in nearly eight years to help the

FG Lauds Siemens, Swiss Boistadt’s Partnership to Boost Health Care Crusoe Osagie The Minister of Health, Professor Isaac Adewole, has commended the partnership between Siemens HealthCare and Swiss Biostadt Limited in Abuja, towards improving health care service delivery in the country.

The minister in his keynote address stated that the focus of the present administration is to scale-up health care service delivery for approximately 100 million Nigerians.

While congratulating Swiss Biostadt and Siemens HealthCare on the strategic health care business partnership, the minister added that he hopes the return on investment would extend beyond business into the social sphere where lives need to be saved, disabilities skilled and illnesses prevented in the first place.

Also speaking at the event, the Chief Executive Officer (CEO) of Swiss Biostadt Limited, Dr. Emma Ajayi on this part, said technology today drives the world in all facets of life, saying that Nigerian, should not be exempted.

He added: “Technology today can do to the healthcare sector what cell-phone has done to communications. We do not intend to stop until every Nigerian can take healthcare as given. This partnership will deliver it. We are in it for a long haul and not a 100-meters dash race.”

He said the focus of the partnership is to address the emerging need for medical equipment as well as bridge the gap in healthcare technology as identified in the healthcare sector.

The Managing Director, Siemens Nigeria, Mrs. Onyeche Tiifasi in her remark stated that the partnership between Siemens

healthcare and Swiss Biostadt will last a long-time, reaching all tentacles of the entire economy.

She added that she is convinced of the partnership because the healthcare sector is the key enabler for the long time success of a nation.

The Chairman of SBL, Dr. Cosmas Maduka mentioned that the partnership has provided a platform to conveniently resolve and deal with the Nigerian healthcare issues of imaging and laboratory diagnostics, emphasising that SBL’s care for the healthcare system resulted to this drastic shift towards improving technology for increased accessibility and affordability.

Representative of the Senate President, Mr. Bukola Saraki, Dr. Tejuosho in his remarks stated that he expects the partnership to blossom towards improving diagnostics in the country, maintaining that proper diagnosis is essential for improved healthcare of the populace.

He encouraged the duo to plan towards developing a standard diagnosis in the country with emphasis in empowering the health care workers on the use and maintenance of the medical equipment.

Siemens healthcare is the world’s leader in Direct Imaging and Laboratory Diagnostics crucial to medicare. The company deals on Magnetic Resonance Imaging machines (MRI), Computed Tomography (CT Scan), X-Ray, Mammography, and Ultrasound machines- all to diagnose various ailments and diseases.

Swiss Biostadt’s vision is to deliver healthcare in Nigeria with the state-of-the art technologies.

youths. He isolated them from the mainstream and infused in them a legacy of distrust and hopelessness.

Meanwhile, the Godwin Obaseki Campaign Organisation has raised the alarm over alleged destruction of its bill boards and posters by suspected supporters of the PDP. Also, the organisation said the PDP was mobilising thugs under the guise of protesting local government workers who are to commence the destruction of posters and bill boards of the APC candidate,

Obaseki, warning that such action will be resisted.

In a statement signed by the Director General of the Obaseki campaign, Osarodion Ogie, it said: “Just last Saturday we woke up and found out that our posters and bill boards around Sapele road and Ikpoba Hill area were destroyed

by PDP supporters.

“Apart from that, we have it on good authority that they have recruited some hoodlums under the guise that they are local government

workers who are protesting over their pensions and gratuities.

“The idea is for them to go out and destroy our posters under the guide of protest. We want to state clearly that the genuine pensioners are receiving their pensions while genuine local government workers know where to go and what to do.

“This government is workersfriendly and that is the only state that raised its minimum wage from N18, 000 to N25,000. This is not about politics, it is real.

“So we are using this opportunity to alert security agents to watch out for these people because we are ready for a peaceful election. They intend to coerce us into violence but we will not. The state will be calm for this election because we have no opposition. PDP leaders should be warned, they must stop destroying our posters for the interest of peace.

They should know that nobody has monopoly of violence but we will continue to remain calm because victory is sure.”

PUTTING HEADSTOGETHER

ManagingDirector,GilAutomationandSecretary, PETAN,GbolahanLawal; ManagingDirector,AOSOrwell,FemiOmotayolandExecutiveDirector, Sales andMarketing,AOSOrwell,AkeemAriyo,atthejustconcluded SocietyofPetroleumEngineers(SPE)exhibition inLagos....recently

Power Privatisation a Mistake, Says Electricity Workers Adibe Emenyonu in Benin City Electricity workers under the umbrella of Senior Staff Association of Electricity and Allied Companies (SSAEAC) have described the privatisation of the power sector by the federal government as a big mistake.

President General, SSAEAC, Chris Okonkwo, stated this at the weekend when he spoke with journalists at the inauguration of their secretariat building in Benin City, Edo State, describing the buyers as portfolio investors who lacked the financial capacity and the technical know how to manage the sector.

Okonkwo who also accused the Distribution Companies (DISCOs) of fraud against Nigerians, further described privatisation of DISCOS as trial of policy, stressing that government never got to the right point to have done it.

He stated that the fall out of not doing it well was what Nigerians are experiencing today in terms of poor power supply.

His words: “What we are saying is that things were not done and if they were done, they were not done rightly. If something is not done well, you expect some fall outs.

“One of the fall outs is the challenges in the sector we are talking about. Privatisation was

a mistake. A big mistake, because government did not get to the right point to do it. Even if they were to do it, they did not do it well.

“This is what exactly SSAEAC has been preaching about or putting in the ear of the government and they are hearing but not taking the actions expected so far.

“What is privatisation,? It is about getting the best economically in terms of getting finance and technical know-how. This was not what happened.

“What happened was that portfoli-carrying investors went abroad and hired people to present to the BPE and NACAS coinvestors, but after the privatisation, they took their portfolios and went back. We were left with fellow Nigerians without background in the sector as owners of the sector.

That is the problem”.

Okonkwo who said the SSAEAC had advocated Public Private Partnership, noted that what was needed was to encourage the private sector to compete with the public that already existed to make the sector more efficient.

Noting that public private partnership still remained the best option for the sector, Okonkwo also made a call for effective regulation of the sector.

According to him, “Government cannot just remove it’s hands from the sector or any other sector and

say, private sector should run it. You are selling off the citizens. And as labour, we are against this totally.”

When asked if he subscribes to the reversal of the policy, he said, “Our position is that government should go back and review and revoke the clause of the contract against those that have not done well. So we are not asking for reversal.

“Follow the rules of the contract and implement it the way it was signed, for better performance because, this is about three years plus. Check it out and see if they have done as stated. If not, let other suitable companies come in, as it will signal to others that they cannot hold Nigerians to ransom.”

He also said DISCOS should stop attribute their inefficiency on the Generation Companies (GENCOs), and other factors they have put before Nigerians as their challenges, adding that those excuses are not tenable, as they should have factored all these into their investment plan.

“As business people, they should solve problems. Their worst problem is that their efficiency is at the lowest point. They collect money for generation and transmission and they don’t remit the money.

They don’t even collect enough.

“So, they are crying and holding down the whole sector because of non performance of revenue collection. Transmission is getting

less than 30 per cent of what is due for transporting energy from generation to distribution.

“The problem of this is that transmission cannot even have enough to run and maintain its equipment. So, I don’t think GENCOs is their problem. I will consider that as an after thought,” he said. Speaking on the issue of 60 and 40 per cent for the DISCOs and government respectively, Okonkwo said, “60 per cent was what they bought as core investors, while government retained the other 40 per cent for Nigerians.

“But as it is today, nobody in government is enforcing the 40 per cent. They are operating with no government presence in the whole of what they are doing. So you can see how they have hijacked our common wealth.

“You are supposed to be managing 60 per cent and you are not managing 100 per cent, and nobody is asking you how you have been managing that, and you are complaining about generation.

“By the way, generation is dropping because of other factors like gas supply, so called vandalisation, sis it start today?

It is an age long problems, and nobody that comes in today to say that things just started yesterday.

They knew all this and should have factored it into their investment plan.

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MONDAY AUGUST 15, 2016 • T H I S D AY

CRIME&PUNISHMENT Ilasa Oil Wells: Police Go after More Landlords, Suspects Chiemelie Ezeobi The Lagos State Police Command yesterday said its operatives would continue to go after landlords and other possible suspects with connection to the oil wells discovered at the weekend at the Ilasa area of the state.

Already, the five suspects picked up after the raid by the Ilasa Police Division boos, Oriyomi Oluwasanni, were said to have given some useful information to the police that would help in picking up others.

The landlords that were arrested, were those fingered in the massive pipeline vandalism and illegal oil trade that was thriving in the area before intelligence by the DPO uncovered it.

The state Police Public Relations spokesperson, Dolapo Badmos, who confirmed the manhunt for more

suspects, said the command had launched a full scale investigation into the matter and would soon arrest more landlords.

She said: “The command has launched a full scale investigation into the matter. Investigation is still on. The arrested suspects are still being held and we would arrest more landlords.”

“The sealed houses where these illicit activities are taking place remains sealed until further notice.”

The command, through the Ilasa Police Division, had discovered 12 residential houses where water wells were turned to wells storing diesel for sale.

The syndicate, who are residents of the densely populated suburb, were exposed by the eagle eye of the DPO, who acting on intelligence swooped on them.

It was gathered that the DPO had

gone undercover, pretending to be a buyer of the ill gotten petroleum products before she and her men arrested them.

A visit to Abeokuta Close, off Ibadan Street, Ilasa at the weekend revealed that virtually all residential apartments on the street had water-wells turned into oil wells, from which they scooped petroleum products.

Checks also revealed that the suspects had connected water pumps into the wells, from which they pumped the products, suspected to be diesel, into an overhead tank.

From the overhead tanks, the suspects then ran it into jerrycans and then sell them off to buyers under the cover of darkness.

One of the landladies, who was arrested by the police, one

Mrs. Moji Adeshina, of No 10 Abeokuta Street, was said to have given quit notice to her tenants to afford her the privacy to run her illicit business.

The state Commissioner of Police, Fatai Owoseni, who was at the scene, said the residents had been advised to relocate because of the danger the oil wells portend for their safety.

Owoseni and other officials of the state government went for an on-the-spot assessment of the area in the company of Oluwasanni; Area ‘D’ Commander, ACP Gyadiayadi Salisu; Rapid Response Squad (RRS) Commander, ACP Olatunji Disu; the state Police Public Relations Officer, Dolapo Badmos and the Lagos State Emergency Management Agency (LASEMA), Michael Akindele.

In Brief Adamawa Govt Probes Alleged Removal of Kidney

The Adamawa State Government has constituted a six-man investigative panel to probe the alleged illegal removal of a patient’s kidney by a physician in a private clinic in Yola, the state capital.

Malam Abubakar Muhammad, the the Information Officer of state Ministry of Health, confirmed this to journalists yesterday in Yola.

He said one Dr. Hassan Yakubu of Jimeta Clinic was alleged to has conducted a surgery on the affected patient. Muhammad said the state Commissioner for Health, Dr. Fatima Atiku, on receipt of the complaint from the Federal Medical Centre, Gombe, where the patient was referred to acted without delay. The News Agency of Nigeria (NAN) reported that the patient, Malam Isah Hamma, who is now in critical condition at the Federal Medical Centre, Yola, had alleged that his only kidney was removed at the Jimeta Clinic by Yakubu who operated on him. Hamma, who spoke through his uncle, Malam Umaru Hammaseyo, said he underwent surgical operation on July 8, at the hospital for abdominal pain where he was charged N50,000.

He said that after the operation his condition continued to worsen leading to his referral to the Federal Medical Centre in Gombe where it was discovered that his kidney had been removed. Hamma called for justice and support from relevant authorities and the public to save him from the critical condition he found himself where he required N48,000 weekly for dialysis. The management of Jimeta Clinic was yet to react to the development, just as the nurses on duty said they were not competent to comment on the matter.

Overcrowded Prisons: Lawyers Urge Application of Community Service Judgment

WELCOME YOUR EXCELLENCY

Rivers State Governor, Nyesom Ezenwo Wike (right), being received by Chairman of the state Basic Education Board, Fyneface Akah, at the Saint Mark’s Anglican Church, Elelenwo, for a thanksgiving service held in honour of Akah in the state....yesterday

Olufemi, Arise Threathen to Drag NHRC to Court over Their Indictment Yekini Jimoh in Lokoja and Olakiitan Victor in Ado Ekiti Following the publication of their names by the National Human Rights Commission (NHRC) for allegedly engaging in electoral malpractices, the former acting Governor of Kogi State, Chief Clarence Olafemi and Senator Ayo Arise have threatened to drag the commission to court.

Olafemi, who spoke with journalists at a press conference yesterday in respect of the publication, faulted the inclusion of his name despite being exonerated by the Court of Appeal after the tribunal first indicted him in 2003.

He wondered why the commission still went ahead to list him as number four on the list, adding that he will be approaching the court to seek redress.

“I have instructed my lawyer to commence legal proceedings with a view to seeking redress “It was true that my election into the state House of Assembly in 2003 was challenged in the tribunal by my opponent, and the tribunal ruled against me

“My counsel studied the lower tribunal’s judgment did does not represent justice at all. So we proceeded to the Appeal Court where the petitioner was asked if there were policemen at the polling unit, and he answered yes.

“The appellant court also demanded to know if there was any reported case of fracas, and he confirmed there was none.

Even Independent National Electoral Commission (INEC) attested to the fact that none of their ballot boxes missed during the election at the local government area.

“Therefore, the judges unanimously accepted that there was a miscarriage of justice at the lower tribunal.

The judges nullified all the judgments of the tribunal and declared me winner of the election,” he said.

He therefore wondered that after nine years, why is the commission still dwelling on a judgment which had been overruled by a superior court and went ahead to list his name among those who had

been involved in electoral malpractices nine years after.

Olufemi stressed that after the episode, he went on to become the Speaker of the state assembly and later the acting governor of the state without any issue.

“This is a clear case of mischief and the handwork of my political enemies who were bent on tarnishing my hard-earned reputation which I have built for over 40 years of active participation in politics “The commission should be scrapped because they are not doing what they supposed to do; they are now playing politics and not what they are meant to do,” he added.

On his part, Arise expressed shock and displeasure over a recent report by the NHRC branding him as one of the electoral offenders in the 2007 general election.

Arise, who represented Ekiti North senatorial district in the Senate, argued that he could not phantom the basis for the purported report since he was duly elected

and certified by the electoral body.

Reacting to the report in a telephone interview with journalists in Ado-Ekiti yesterday, the exlegislator said the commission was totally unfair to his person,since he was neither invited nor questioned by its agents before the report was prepared and published.

He alleged that the commission,in a desperate bid to give some semblance of credibility to what he termed as ‘shoddy job’ only embarked on ‘brandname’ indictment .

The All Progressives Congress (APC) chieftain in Ekiti State disclosed that he had instructed his attorney to write a strongly worded petition to the commission to retract the report and tender an unreserved apology,failure of which would attract a legal action.

Arise posited that he had always being a strong advocate of any process or reform that would strengthen the electoral system cautioning that those saddled with the responsibility should not abused the privilege giving to them by rubbishing the reputations of innocent Nigerians.

Some lawyers in Lagos yesterday called for more community service judgments to decongest the prisons and prevent facilities from being overstretched. They told the News Agency of Nigeria (NAN) in separate interviews that such sentences would also ensure speedy dispensation of justice. Mr. Adindu Ibuzo, a legal practitioner, urged state governments to emulate Lagos State that has embraced delivering of community service judgments. Community service sentence is a non-custodial punishment for offenders, which aims at preventing overpopulation of the prisons. Ibuzo said this type of sentence would also reduce the burden of prison authorities in handling more inmates and prevent the usual stigma of offenders being called ex-convicts. The lawyer explained that application of jail term on petty crime offenders was capable of disrupting such offenders’ social and economic lives. “Community service, if well implemented, is a good reformatory and punitive measure for petty offences. “Instead of imprisoning an offender and spending tax payers’ money to feed him, let him work for the betterment of the community. “It is enough shame and suffering for offenders to be seen by people who know them while cleaning the streets or public toilets as punishment for their offences,” he said. Another legal practitioner, Mr. Ihayin Owa, said that community service was a means to de-congesting the prison system without compromising justice administration.

“Community service is a way of helping reform the mind of a petty offender from the crime he has committed. “As the law says, justice is not a one way traffic. It goes in three ways: justice for the state; the complainant and the offender. “The welfare of the offender should also be put into consideration, when applying the judgment.” Owa, therefore, urged state governments to explore the option of community service as a means of reducing overcrowding in prisons.

“Some people go into crime due to poverty and hunger; such offenders should not be sent to prison. “A first time offender, who stole a chicken and was sent to prison stands the chance of meeting hardened criminals and coming back to commit higher level of crime,” he said.

Mrs Tola Akintunde, a Lagos based lawyer, simply observed that “imprisoning petty criminals is not an efficient way of tackling crime”.

Osun Monarchs Want Security Improved, Say No to Kidnapping

Traditional rulers under the aegis of the Osun Divisional Conference of Obas in Osun State have called on the government and law enforcement agencies in the state to up their intelligence gathering in order to sustain the state enviable record of very low crime rate in the country. They said recent few cases of kidnaping and armed robbery should be dealt with decisively in order to achieve zero crime rate in the state. The traditional rulers stated this in a communique signed by its Secretary, the Aragbiji of Iragbiji, Oba Abdul-Raseed Olabomi, at the end of the meeting of Osun Divisional Conferences of Obas at the Palace of the Ataoja of Osogbo, Oba Jimoh Olanipekun The monarch held that the conference has noticed that the road blocks on highways by the police have finally returned to the state as policemen use it as a means to collect money from commercial road users. Aragbiji said the ‘illegal’ checkpoints are tarnishing the image of Nigeria, stating that the conference of Obas in the state supports the immediate cancellation of such illegal checkpoints in almost every major road in the state. The Aregbesola government had earlier in 2012 and 2014 released 20 modern Armoured Personnel Carriers (APCs) and over 100 patrol vans and motorbikes for the use of the police.

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Ohakim Steps aside from Active Politics Amby Uneze in Owerri Former Governor of Imo State, Mr. Ikedi Ohakim, yesterday in his country home, Okohia in Isiala announced his withdrawal from active politics, saying he was taking a break to venture into intellectual harvest that would be of immense benefit to humanity.

Addressing his loyalists and journalists in Okohia, Ohakim said: “I have decided to take a step backward, l am announcing my temporal withdrawal from active participation in partisan politics. l shall devote my time to mentoring/working with the youths of my home state, lmo, and indeed Nigeria, outside politics; as well as in running my nongovernmental organisation, The Clean and Green Africa Foundation.”

While berating the Imo State Government, Rochas Okorocha for what he described as the degeneration of the state, he wondered why a state he left in 2011 in buoyant condition could be struggling to breath for survival.

According to him, Imo State is listed as one of the unsafe states by the United States of America; UNICEF listed Imo as one of the states where a child dies every five minutes; and where due process is not followed.

Furthermore, he said Imo State had moved from the top five states for academic excellence in WAEC to the last 10 years, a situation he said, was unacceptable.

On the reduction of working day, he added: “They want to borrow Gambia’s four day working week by using a Christian state” as a way of experimenting possible four-day a week work in order to accommodate the Muslims’ Friday prayer day as a public holiday.

The former Governor said Imo State has been mismanaged, saying “We mismanaged the oil boom of 2011 to 2014; now property prices have dropped and people are leaving Owerri in droves, you see what is happening in our politics may be punishment.”

Expressing his displeasure over the wranglings within

PEPSI Leads Carbonated Soft Drink Sector at the Nigerian Brand Awards 2016

Emerges iconic brand of the year Continuing its winning streak and in demonstration of leadership of the carbonated soft drink market in Nigeria, Pepsi, a product of the Seven Up Bottling Company Plc, clinched the prestigious Iconic Brand of the Year at the just concluded Nigerian Brand Awards 2016, thus entrenching its strong brand presence.

This award is an endorsement of the strong brand equity and loyalty the Pepsi brand has among its numerous customers, given the rivalry for leadership in the sector. The brand Icon of the year award is demonstrated by the popularity of a particular brand in a sector and attested to by consumers in the Nigerian market.

This is coming barely two weeks after the Pepsi brand won the Outdoor Advertising Association of Nigeria (OAAN) Poster Awards’ Grand Prix for its Long Throat campaign, where it also stood out as market leader in its sector.

Reacting to the award, Head of Marketing, SevenUp Bottling Company Plc (SBC), Mr. Norden Thurston, noted that the various awards garnered by its brand were a tacit endorsement of the leadership position of brands on the stable of the Seven Up Bottling Company (SBC) in the Nigerian Market.

He noted however that the development is also evidence of creative ingenuity of its partner agencies in marketing communications who tirelessly work in concert with the group in creating seamless communication and brand visibility strategies targeted at its market.

“We are delighted with these awards. It is a testament to the great partnership that exists between SBC and its partner agencies in marketing.

the PDP at both the federal level and the Imo State chapter, he wondered how a party that had prided herself as the

biggest in Africa could degenerate into factions where members are after their selfish gains.

He however said that in

view of the circumstances, “I have come to the sad conclusion that I will no longer be able to be part of this circus in the political arena for the

time being. I am, therefore, by this statement announcing my temporary withdrawal from active participation in partisan politics”.

FRSC: Nigeria Lost 3% of GDP to Ayade Treks 14 Kilometres Across Calabar, Interacts with Residents Road Accident in 2015 Dele Ogbodo in Abuja The Corps Marshal of the Federal Road Safety Commission (FRSC), Mr. Boboye Oyeyemi, has said Nigeria lost three per cent of its Gross Domestic Product (GDP) to road accident in 2015.

The loss, according to him, amounts to $131,817,676,080, adding that the economic losses have been grievous and monumental.

The disclosure was made in a statement signed by the commission Head of Media and Strategy, Mr. Bisi Kazeem, yesterday in Abuja saying Nigeria had over 1060 crashes in 2015, while 1,115,683 crashes were recorded globally.

The statement said: “Three hundred and seventy thousand, nine hundred and forty five people (370, 945) were killed, while 1,153,745 were injured.”

The FRSC boss disclosed that 82 per cent of all road crashes which occurred in the country under the period were caused by human factor.

To reduce road accident, he advocated that human factor must be addressed, adding that: “Addressing the human factor means that the nation could be on the path to ensuing safety on its roads.”

Oyeyemi solicited the support of the Supreme Council for Islamic Affairs to join hands with the FRSC to create public awareness on road safety, saying

such partnership is in line with the Quarnic injunctions.

Meanwhile, the Sultan of Sokoto, Alhaji Saad Abubakar III who also doubles as the Head of the Nigerian Supreme Council for Islamic Affairs (NSCIA), has called for support for FRSC towards ensuring safer and accident-free road in the country.

The Sultan, while calling for collaboration between FRSC and NCCIA, urged Oyeyemi to continue with his road safety advocacy drive through taking road safety campaign to every nook and cranny of the country.

Abubakar, while also soliciting for the support of stakeholders on road safety, commended the FRSC management for its commitment to road safety campaigns, saying with support from relevant stakeholders, the nation’s roads will become safe for all.

He said the council had decided to extend its invitation to the FRSC to make a presentation on road safety in view of the need for members of the public, particularly the Muslims in the country, to take issues of road safety serious.

The Sultan warned against recklessness and impunity on the part of road users who do not consider the safety of others, adding that such behaviour is against the dictates of Islam, as he enjoined Muslims to avoid acts that could endanger the lives of others.

Cross River State Governor, Prof.

Ben Ayade, yesterday embarked on a 14-kilometer walk across the city of Calabar, where he interacted freely with residents, assuring them of his government’s commitment to improve their lives.

Ayade who walked across several streets inspecting the state of roads in the state capital Calabar and the level of waste evacuation in the state, terminated his streets tour at Atimbo.

At every street the governor passed through, chants of Obong Owo (elder) and Obong Ekpe (chief priest) rent the air, as residents trooped out to hail him for what they said has been his proactive and humanistic approach to governance.

At one of Ayade’s stopovers, a mild drama ensued where an eight-year-old boy stuck out his hand from his father’s car for a handshake with the governor, hailing “we love you.” The governor who waved continuously to the cheering bystanders responded with a handshake.

For several others, it was bear hugs, while for some it was what is referred in common parlance as “chop knuckle.”

In what could be described as a show of empathy, the governor who was literally swathed by a large throng spotted a young girl of about 16 years looking dispirited with her drooped face on both hands.

Moved by her sight, Ayade, in his characteristic gesture, directed that something be immediately done to lift her mood.

The unscheduled street walk

which also attracted youths who besieged the governor , thanking him for his leadership style, while expressing their total support for the construction of the ongoing Bakassi deep seaport and the 260-kilometre superhighway.

In unison, they chorused: ‘Ayade we love you’, ‘Ayade we support you,’ ‘Our digital governor, we are proud of you, the superhighway must be a reality,’ ‘mischief makers leave our governor alone,’ ‘Cross River State is safe with Governor Ayade.’

Similarly, the governor who used the opportunity to mingle, shop and interact freely with hawkers and shop owners, assured them of his government’s commitment to look into most of their challenges.

Specifically, a particular groundnut and corn seller saw fortune smile on her as her stock was boosted by the governor, who stopped by her little road side stand to buy groundnut and soft drinks.

Some locals who could not believe that the governor could stop by their shops to buy groundnut and soft drink said the day would remain forever etched in their memories.

Expressing his excitement, a resident of Atimbo community, Michael Uduak, said: “The governor made my day, he came to our community to eat with us, joke with us, and most importantly interact with us and shared our challenges. He has shown he is a man of the people and we will stand by him to the end.”

NATIONAL SUGAR DEVELOPMENT COUNCIL, ABUJA ADDENDUM TO THE INITIAL INVITATION TO TENDER The attention of the General Public is hereby drawn to our initial invitation to Bid Advertisement dated 25th July, 2016 in the DailyTrust, Thisday newspapers as well as the Federal Government Tenders Journal.

2. It has been observed that the following statements under paragraph 3.0 (General Requirements) needs to be further clarified to avoid ambiguities.

Therefore the following listed requirements are been corrected and to replace the advertised requirements respectively for clarity and better understanding. The respective requirement should now read as follows:ii.

Tax Clearance Certificate

iii.

PENCOM Compliance Certificate

iv.

ITF Compliance Certificate

viii.

Evidence of Registration on the National Database of Contractors, Consultants and Service Providers by inclusion of Interim Registration Report issued by BPP.

3. Furthermore the Bid Document price has been reviewed downwards to a nonRefundable deposit of N25, 000 per bid.

4. Bid Closing and Bill Opening dates still remain the same as contained in the said Advertisement of 25th July, 2016 and all other terms and conditions of the initial advertisement apply, please.

SIGNED

MANAGEMENT

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T H I S D AY •MONDAY AUGUST 15, 2016

MONDAYSPORTS

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

Siasia: Going All the Way to the Gold is Our Target

Duro Ikhazuagbe in Rio Nigeria’s Under-23 team coach, Samson Siasia, became very emotional on Saturday night after Nigeria defeated Denmark 2-0 to book their semi final clash with Germany in Sao Paolo on Wednesday.

“We are here to win. You cannot come this far, go through what we went though, then just give up. We will do everything we can to make sure we will get the gold medal,” remarked the Nigerian Under-23 football team coach in apparent reference to the scandalous manner he and the players got stranded in Atlanta USA after their pre-tournament training tour.

Now, with one foot in the medal zone, Siasia’s dream of another Olympic medal is about to become reality. But first, he wants to savour the victory over the Danes.

“I just want to say thanks to the players. Yesterday, (Friday) we were worried about the defence but they came out and played very well. We played against a good team in Denmark. The guys have to be applauded for the performance and scoring two goals,” stressed Siasia.

Captain of the Nigerian Under-23, John Mikel Obi, got the curtain raiser with Aminu Umar scoring the second to

Take Nigerian Flags to Venues, Gumel Urges Officials As Olympic medals beckon for Team Nigeria, President of the Nigeria Olympic Committee (NOC), Habu Gumel, has reminded athletes and officials to make it a point of duty to take Nigerian flags to venues.

Team Nigerian officials are highly expectant of breaking the yoke of no medal in London 2012 Olympic Games as they wait anxiously for Nigeria’s first medal to arrive.

The Nigerian football team, Dream Team VI has been in superlative form and is being tipped for a medal just as boxer Efe Ajagba showed glimpses of winning a medal with his knockout of his first opponent to move into the quarter finals.

One more victory, definitely accounts for at least a bronze or even silver and gold.

“We came with many Nigerian flags. Our athletes and their officials should always go to venues of events with the flags.

It will be sad for any Nigerian to win and be looking for flags to celebrate’’, Gumel said.

kill the game for Denmark and a ticket to the semi final at the Corinthians Arena in Sao Paolo on Wednesday evening.

Already, every Nigerian here is looking ahead of a possible clash with Brazil in the final if Dream Team VI is able to surmount the obstacle posed by the Germans. But Siasia is not one of them.

“We saw what they did to the Danish team (Brazil won 4-0 in the group stage). They are a good side. They did not start well, but the most important thing is how you end.

“We still have one game (against Germany) to go so we are not worrying about Brazil now.

“If we get to the final together then we will see what we can do. I am sure we will play a good game,” concludes Siasia who is aiming to go beyond the silver he won at the Beijing Games in 2008 when Lionel Messi inspired Argentina to snatch the gold.

Mikel is however thanking Brazilian fans for the good run of the Dream Team at the Games.

While also speaking at the post match in Salvador, Mikel said: “I would like to say a massive, massive thanks to the fans. Not just today, I think from the first day that we got here, from when we

played Japan in the first game.

The Brazilian fans have been behind us and supported us all the time.

“Even when we were losing 2-0 to Colombia in the group, the fans were supporting us. It is one of the greatest feelings

in football if you are giving the fans what they want and I am very happy for the team today.”

On his goal, Mikel said: “My performance was good, the team performance was good. We came out and

did exactly what the coach asked us to do and executed the game plan perfectly. We are very happy to be in the semifinal.”

“I am not surprised. When we were in Atlanta we knew the team we had and we had

a talented bunch of players.

That’s why we just wanted to get to Brazil and kick-start our tournament.

He was however evasive when asked if Nigeria was going all the way to the gold medal.

Nigeria’s Efe Ajagba (right) delivered a punch on his Trinidad and Tobago opponent, Nigel Paul on Saturday night at the Riocentro Pavilion of the Olympic Stadium in Rio

Ajagba Has Destroyed My Three-year Olympic Dream, Cries Trinidad and Tobago Boxer Duro Ikhazuagbe in Rio Trinidad and Tobago’s Nigel Paul wept like a baby on Saturday night at the Riocentro Pavilion of the Olympic Stadium here in Rio de Janeiro after it took Team Nigeria’s Efe Ajagba 2.44 seconds to knock him out.

Most boxing fans that trooped into the arena to see the stuff Nigeria’s lone qualifier was up to at the 31st Olympic Games in Brazil were still settling down when Ajagba unleashed a combination of punches to the face of the much heavier Carribean boxer.

He staggered to the ropes but Ajagba was not done yet.

The Nigerian followed up with a devastating blow to the left chin of Paul to send him head-long to the canvass.

The Russian referee incharge of the fight did not

hesitate to end it. Paul rose up and wobbled to his corner to earn Ajagba a technical knock-out and a ticket to the next round.

The fight was over in the just 2.44 second of the first of the three rounds of the Super heavyweight category of the boxing event of Rio2016.

Team Nigeria’s corner led by Coach Tony Konyegwachie, younger brother of 1984 Los Angeles Olympic Games boxing silver medalist, Peter Konyegwachie, erupted in celebration. Also among those celebrating was the doctor in-charge of Team Nigeria, Dr Ahmed Mu’azu, who was occasionally supporting as assistant coach to Konyegwachie.

The Trinidadian was sad and could not help telling reporters with sadness in his voice that his three-year preparation has vanished in

less than three minutes.

“I did all necessary preparations, attending the Pan American Games as well as several championships to get myself ready for the Olympics but now all that has been destroyed in the first round,” stressed the boxer who had hoped to use his success here in Brazil to advance his boxing career.

The Delta-born Ajagba is a 2015 All Africa Games gold medalist in Congo-Brazzaville and a bronze medalist at the Commonwealth Games in Glasgow, Scotland in 2014.

His next fight in the quarter final is against Kazakhstan’s Ivan Dychko who similarly knocked out a fighter from Azerbaijan on the same night as the Nigerian pugilist.

Dychko is going to be a tough fight for Ajagba given how he dispatched his opponent, inflicting deep gash

in the eyes of the Azerbaijan with ferocious punches.

He looks bigger and heavier to trim Ajagba. The Nigerian however remains unfazed insisting his target is to get a medal here.

“I am focused on my next fight and don’t care who ever he is. I have my eyes on winning a medal here in Brazil,” gushed the determined Nigerian fighter.

He said that part of his secret is that he remains largely unknown to his opponents as he refused to upload his fights on the YouTube social media platform.

“By the time I will the gold here, I can then put my fights on YouTube,” concludes the boxer.

Nigeria’s Commonwealth Games boxing silver medalist, Adura Lanlehi told THISDAY that he is very sure Ajagba

can go as far as winning the gold medal of the super heavyweight category.

“He has everything to win the gold despite the many challenges Nigerian boxers faced ahead of Rio2016.

Adura stressed that whatever the outcome of Ajagba’s next fight, the determination to excel is the driving force and not any form of support from Nigeria’s sports officials.

“Ajagba would not have been the lone Nigerian qualifier for the Rio 2016 boxing event if those incharge of Nigeria’s sports have been alive to their responsibilities. We had the chance of coming here with as many as seven boxers, majority of whom were in the quarterfinal stages of qualifying for the Olympics,” revealed the former boxer turned coach.

Guinea Bissau Begs Igali for Help Guinea Bissau’s quest for a medal at the Rio Olympics is hinged on the help that may come from Nigeria’s Technical Director of Wrestling and President of Wrestling Federation of Nigeria, Dr Daniel Igali.

Igali who is also leading out a strong squad of Nigerian wrestlers has been approached by the country to offer assistance to their Wrestlers

as they put finishing touches before going on the Olympic mat to seek glory. ‘’They approached me and we have been training together.

It’s a helping hand to a sisterly African country’’, Igali who won Olympic Gold medal for Canada at the Sydney 2000 Olympic Games said. ‘’There is nothing to be afraid of. Our wrestlers are compact and doing well. They

only want me to look in and offer necessary help. It is a normal thing and I believe that is the Olympic spirit’’, Igali said at the Games Village in Rio. He however assured that the help would not distract or reduce his attention on the Nigerian wrestlers. ‘’Our athletes are in good condition and they’re raring to go. The arrival of their training partners

has buoyed their confidence.

We need the prayers of Nigerians for everything to go well for them. They’re in good shape for the battle for medals’’, Igali said.

Meanwhile, Igali’s wardrobes has been doubled with the supply of kits by Team Canada.

Igali was touched and humbled by their show of love. “I’m happy that they are

always with me by extending love and affection with these gifts’’.

Igali won a precious gold medal for Canada at the 2000 Sydney Olympic Games. He was celebrated and elevated to an icon.

“It has become a routine.

At all the Games, they always extend this gesture to me. I am indeed grateful to them’’, he said.

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Rose Beats Stenson to Olympic Gold in Golf

Great Britain’s Justin Rose became golf’s first Olympic champion since 1904 by beating Henrik Stenson to gold in a thrilling final round at Rio 2016.

Rose, 36, was level with Stenson on 15 under par after 17 holes but the Swede bogeyed the last while Rose sank a birdie putt to win by two shots.

The 2013 US Open champion closed with a four-under-par 67 to win on 16 under.

Open champion Stenson (68) took silver with American Matt Kuchar carding a 63 to take bronze on 13 under.

It was the perfect outcome following the realisation of a

seven-year dream for Rose, who secured Britain’s 12th gold medal in Rio. The Englishman had relished the prospect of becoming an Olympian since the moment golf’s return to the Games was confirmed in 2009.

Such was his eagerness to be part of the whole experience, Rose arrived in Brazil in the week before the Olympics officially started to ensure he was part of the opening ceremony.

Rose made history by hitting Olympic golf’s first hole-in-one in the opening round and started Sunday with a one-shot lead, before shooting four birdies and just

one bogey on his outward nine.

However, Stenson was in determined mood. Birdies in four of his first 10 holes kept him within touch of the leader, and when Rose dropped a shot on the 13th they were level.

It looked like a play-off would be needed to separate them but Rose held his nerve on the par-five last, chipping his approach to two feet from the hole, while Stenson’s spun away to around 20 feet.

The Swede then raced his birdie putt eight feet past the hole and missed the return to allow Rose the luxury of two putts for victory. He needed just the one.

Jubilant Rose after event yesterday

Mo Farah Makes History by Winning 10,000m Gold Mo Farah became the first British track and field athlete to win three Olympic gold medals as he retained his 10,000m title with a thrilling victory in Rio. The 33-year-old overcame a mid-race fall and powered clear of the field in the final 100m to win in 27 minutes five seconds.

Kenya’s Paul Tanui took silver, with Ethiopia’s Tamirat Tola in third.

Farah returns to the track on Wednesday as he begins the defence of the 5,000m title he also won at London 2012.

“I’ve won an Olympic gold for three of my children,” he said. “Now I’d like to win the 5,000m gold for my little boy.”

Should he win that race, Farah will become the first man since Finland’s Lasse Viren in 1976 to retain two Olympic distance titles.

He has already achieved the world double-double, having successfully defended his 10,000m and 5,000m titles in Beijing last year.

Farah looked comfortable at the back of the field in Rio, choosing his moment

to pick his way through the pack.

His hopes briefly looked in danger when he was accidentally tripped by training partner Galen Rupp with 16 laps to go, but he recovered to surge past Tanui on the home straight.

“I wasn’t going to let it go,” he said. “I got up quickly. I thought about my family. It made me emotional. I thought ‘get through, get through’. I believed in myself.”

Farah’s compatriots Andy Vernon and Ross Millington finished 25th and 31st respectively.

Farah will match the achievement of Lasse Viren if he retains his 5,000m Olympic title next week Olympic silver medallist and former world champion Steve Cram: “The manner of his victory was a familiar one, but this takes him into a place where no other British athlete has been.

“It was simply wonderful distance running from Mo Farah. He tripped up, fell, and still won and did it the only way Mo Farah could do.”

Former British 10,000m Olympic bromze medallist Brendan Foster said: “The plan that we’ve read about and listened to the Kenyans talk about didn’t unfold, Mo was tested in the latter stages of the race but that was absolutely brilliant.

“The greatest distance runners of all time - he is now keeping them

Liverpool Shines over Arsenal in Seven Goals Thriller at Emirates touch to Nathaniel Clyne’s delivery.

Along with Ragnar Klavan and Georginio Wijnaldum, Sadio Mane was making his competitive Liverpool bow and the Senegalese marked the occasion with a sensational solo goal, finished off with a rasping drive into the top corner.

The home side did pull one back almost immediately through substitute Alex Oxlade-Chamberlain - another virtuoso effort to rival that of Mane - before Liverpool saw Coutinho hobble from the field.

With 15 minutes remaining, Calum Chambers’ header set Liverpool nerves jangling further, but Klopp’s men held on to get their campaign off to a victorious, if not altogether convincing, start.

Arsenal had the better of the opening exchanges and a sharp seventh-minute combination between Alexis Sanchez and

COUNTRIES USA China Britain Germany Russia Italy Japan Australia S’Korea France Hungary Netherlands Spain N’Zealand

Mo Farah (middle) on the finishing line yesterday

E P L … E P L … E P L …

Liverpool were forced to hold off a resurgent Arsenal as Jurgen Klopp’s men clung on to begin their 2016-17 Premier League season with an enthralling 4-3 victory at Emirates Stadium on Sunday.

In a remarkable encounter, Liverpool fell behind as Theo Walcott, who had missed a penalty a minute earlier, gave Arsenal a deserved lead.

But Philippe Coutinho scorer of a stunning winner at Stoke City on the opening weekend of last season repeated the feat with an unstoppable free-kick in first-half stoppage time.

Buoyed by that equaliser, Liverpool tore into their hosts after the break and scored three times in the first 18 minutes.

Adam Lallana put them ahead with a fine piece of control and a finish to match, before Coutinho doubled his tally by applying the finishing

MEDAL TABLE

Aaron Ramsey culminated in the latter prodding straight into the arms of goalkeeper Simon Mignolet.

The Gunners were ahead in the 31st minute, but only after Walcott had wasted a chance from the penalty spot.

Alberto Moreno’s clumsy challenge inside the box brought down the England forward, who then saw his subsequent kick saved by Mignolet diving to his right.

RESULTS Arsenal 3-4 Liverpool Bournemout 1-3 Man Utd Man City 2-1 Sunderland Everton 1-1 Tottenham Southampton 1-1 Watford Middlesbrougs 1-1 Stoke Palace 0-1 WBA Burnley 0-1 Swansea Hull City 2-1 Leicester

company.”

“However this man, who joins the most select of elite groups in successfully defending an Olympic 10,000m title, refuses to be beaten - by a rival ahead with 150m to go, by a fall, by anyone in a global final in eight attempts. And there may yet be more to come.”

G 25 13 11 8 7 7 7 6 6 5 5 4

S 18 11 14 5 11 7 3 7 3 8 3 2

B 18 17 7 3 8 5 14 9 4 7 3 3

3 0 2 2 6 0

Canada 2 2 8 Kazakhstan 2 2 3 Switzerland 2 1 2 Belgium Thailand Croatia

2 1 1 2 1 1 2 1 0

(As at midnight August 14)

Oshoala Upbeat on New FA Cup Role Arsenal Ladies and Super Falcons ace, Asisat Oshoala is upbeat as Hotsports Nigeria Limited and the Nigeria Football Federation (NFF) takes their ongoing engagements towards unveiling the 2014 African Women’s Footballer of the Year, the Face of the 2016 Female Federation’s Cup in Nigeria, to the next level.

Oshoala, who was home on a short break from her base in London in the course of last week after helping her club Arsenal Ladies win the English Women’s Football FA Cup joined the HotSports team led

by CEO Taye Ige in a crucial meeting with the Lagos State Football Association Chairman and NFF 1st Vice President Barrister Seyi Akinwunmi at the State FA secretariat, Onikan Lagos.

“I feel truly happy and excited about this. I appreciate the initiative to make me the Face of the 2016 Female Federation Cup and wish to pledge my full cooperation with HotSports, the Nigeria Football Federation and with

all concerned to ensure a more exciting and memorable Federation’s Cup this year,” an obviously elated excited Oshoala said.

On his part, Barrister Akinwunmi who is also the chairman of the organising committee of the 2016 Federation’s Cup final described the idea of making Oshoala the Face of the Female Federation Cup as a brilliant innovation and promised to pass the message to the President of the NFF Amaju Pinnick, who he said he was sure would welcome the idea.

“When a great thing is about to happen it starts in a small way because people hardly notice. I think the small thing we have done here today is the beginning of something very great,” he said.

“First of all, we have Oshoala, coming to give back, it happens only a few times . Secondly, we need an inspiration for young female footballers in Nigeria. She (Oshoala) has offered herself to fill in that role and it’s a

very good thing for which the Federation is extremely happy”, Akinwunmi continued.

Earlier in his opening remarks, the Chief Executive Officer of HotSports and Chairman HS Media Group, Taye Ige commended the Lagos FA for a well organised hosting of the male and female Federation’s Cup for the past couple of years during which the oldest competition in the land gained enhanced equity in the marketplace and thanked Akinwunmi, the NFF and Asisat Oshoala for accepting to work together to boost the image of female football in Nigeria. “it’s big a boost for female football in Nigeria ultimately.

You remember that at every final event of the Federation Cup, the female final is played just as an adjunct of the male event or as a curtain raiser.

We think that is not good enough and we that the national Federation should do something about it to enhance the brand called female football again,” Ige said.

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Monday August 15, 2016

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Price: N250

MISSILE Aliyu to PDP Screening Committee “For instance, our Zonal chairman has just walked out of the meeting.

We should find out why. I like to know because when we start doings like this, we will run into a lot of problems” –The former Niger State Governor, Babangida Aliyu protesting the composition of the committee for the August 17 national convention.

ALEXOTTI OUTSIDE THE BOX

alex.otti@thisdaylive.com

I Don’t Do Politics III “T

he worst illiterate is the political illiterate.

He hears nothing, sees nothing, and takes no part in political life. He doesn’t seem to know that the cost of living, the price of beans, of flour, of rent, of medicines, all depend on political decisions. He even prides himself on his political ignorance, sticks out his chest and says he hates politics. The imbecile doesn’t know that from his political nonparticipation, comes the prostitute, the abandoned child, the robber and, worst of all, corrupt officials, the lackeys of exploitative multinational corporations”.

Eugen Bertolt Fredrich Brecht (1898-1956) There can’t be a better way to conclude our three part treatise on the apathy of competent people towards politics, than the above words of Eugen Brecht.

Brecht may appear harsh, but he said the truth, the whole truth and nothing but the truth. There are tons of excuses that many people give for their refusal to participate in politics. This is not new given that it is natural that failure be matched with excuses. But excuses do not correct missteps, actions do. And act, we must if we are interested in saving this country from groping in the dark.

As we act, we must not be deterred by real or imaginary negative consequences.

It was Ray Anderson who said that the powers that hold people in bondage do not relinquish control very easily. We must convince ourselves that what we are doing is the right thing and that the powers that we see today, are man-made and with consistency and commitment, we are bound to see them no more, when we have battled them to submission.

We must also agree that we collectively own the country and refuse to accept a situation where a few people lord it over the rest of us more so, when there is nothing to indicate that those people have much more to offer.

Some people would agonise that the way politics of the country is organised, it is foolhardy to take the risk. The organisation is such that in the legislature, if you are not a ranking member, you can hardly become a principal officer. The question no one has been able to answer is: where they got ranking members in 1999 at the inception of this republic; who made up the first set of principal officers they had at that time? This action aptly describes the saying about climbing up with a ladder and removing and destroying the ladder to ensure no one else is able to climb.

As a result of the ranking policy, some legislators who have added little or no value insist on presenting themselves at every election so as not to lose their ranks. Unfortunately, the elites have failed in their responsibility to take on these legislators and educate the electorate with a view to retiring them as those ranks are useless to the people they are ostensibly representing.

As if that is not enough, we are now

Buhari faced with a situation where the state of the economy has left states and the Federal governments prostrate. But the same entities have been saddled with so much recurrent bills to pay that sooner or later, they won’t be able to function. What we see is that our leaders still behave as if they were in the era of $100 dollar crude prices. Not a lot of them are worried that there should be a relationship between income and expenditure. As a matter of fact, some of them do not even have the intellectual depth to understand that you can’t give what you don’t have. We still have to pay humongous pecks which our leaders approved for themselves in the era of oil boom. Our leaders still maintain fleets of aircrafts and vehicles, a retinue of aides and grandiose lifestyle while seeking bailout funds and loans. Meanwhile, civil servants and other workers are owed several months of salary areas. If more competent people show interest in how we are governed, many of our leaders would have been required to answer questions on how our common patrimony is managed and would be forced to sit up. The reason they carry on with reckless abandon is that the people who have the capacity to raise issues, ask questions or even seek to replace them at elections don’t seem to be interested. Still talking about the economic recession facing us and the fact that we have become a poor nation as espoused

by President Buhari last week, I believe this is one opportunity for more competent people to get into the ring. Because of the fall in oil prices, states now go home from Abuja with less than half of the allocations they were getting prior to this time. Unfortunately, most of our leaders don’t get it. They seem not to understand that while it may look attractive, going cap in hand to Abuja for federal allocation is not sustainable. Most of the states can run their affairs without relying on the centre if their leaders knew what to do.

When you look at their policies, some of them take anti-business positions. They refuse to invest in their states, ignore failing infrastructure, pay lip service to security and sanitation issues, and are

not interested in both the educational and healthcare delivery systems. When they do, it is approached as a favour to the people rather than as a way to improve the environment to attract investment.

I have no doubt that some leaders may be forced to abdicate their thrones as people increasingly get restive about the situation. We can see the signs today, but it is still early days.

Some people will argue that they do not have the required funds to participate in an election as it is known to be very expensive. I must admit that elections are not cheap in this part of the globe. My response, however, is that we must start from somewhere. Since Rome was not built in a day, we don’t expect that everyone would become politically active at the same time. Even if that happened, all of them cannot participate at the same level. May be the best place to start from is those who can afford it. Truth be told, there are a lot of people who are in a position to foot the required bill but shy away. One of the reasons they shy away is self- interest.

They don’t want to risk their businesses and professions to go into politics. That is understandable. But they should reflect on Brecht’s exhortations above. What if the politician takes a decision that could negatively affect or even obliterate your business or profession? What is the cost of having an incompetent person make decisions and pass laws on matters that they sometimes hardly know anything about? Do they spare a thought about the future of their families in the hands of misfits? The point one is raising is that we should start with those who are in a position to support their ambitions and extend to other competent hands, who, even if they are not able to fund elections, should benefit from pooled resources from those that they know to sponsor and support them to power. This is the same thing that the so called “chartered politicians” do to perpetuate themselves in power. All these are possibilities either within the context of existing political party structure or under an entirely new party platform.

The next point and probably the most important one is the issue of the electorate that cast the votes that the politicians ride on to get to power. Because we are not interested, those who are interested offer themselves and it is only those that offer themselves that can be voted for. You will be surprised that a lot of the elites do not even vote in elections.

Some of them see election days as public holidays, so they just watch television sets and sleep the whole day or visit friends within the neighborhood, since movement is usually restricted. Some do not even have voters’ cards as they are not registered voters. Some are so insulated from their environment that they have no clue who the candidates are and don’t care to know. So, if this is your lot, how do you think you can make a difference in the affairs that concern

you the most? The issue of voter apathy is demonstrated by data from the recent elections conducted in Nigeria. In the 2015 general election, out of the 91.7million voting age population, only 67.4million people offered themselves to be registered.

Of this number, the average voter turnout was just over 43% even though this is a huge improvement from the 29% voter turnout recorded in 2011. It is instructive here to note that for the 2015 figures, the only exception is a local government known as Obingwa in Abia State that returned about 95% voter turnout just for the Governorship election. This is basically because in this local government, even the dead woke up to vote for the party in power on election day. That is a story for another day. If we compare voter turnout in Nigeria with those of the US at over 70% and UK at over 65%, you will agree that we have a lot of work to do. I believe that if we managed to push the numbers up, the outcomes of those elections may just have been different. I do not wish away the fact that sometimes depending on what is sold to the electorate, they may vote first and seek to understand why they voted later. An example is the recent referendum on Britain’s exit from the European Union. There are reports that after some people voted to exit, they came back to search for the meaning of EU in Google.

What those who know need to do is to take up the responsibility of educating the rest and raising their political consciousness.

The electorate needs to understand the power of their votes. They need to be made to understand that those that share rice and bread during elections do not mean well for them. They need to be made to understand that what is being shared belongs to them. They need to know that even after collecting back their money, they can still vote against those sharing the loot. They need to be taught that those who rig election and write fake results are enemies. They need to know that it is their right to defend their votes and ensure that their votes count. They need to know that until they do things like these, their conditions will not improve. All these do not require too much, other than political education.

It is political education that has made government by brute force unattractive.

It is the same education that made the citizens of Turkey poured out on the streets a few weeks ago to resist a coup that had almost succeeded.

It is important to note that just like Emperor Haile Selassie said “throughout history, it has been the inaction of those who could have acted; the indifference of those who should have known better; the silence of the voice of Justice when it mattered most; that has made it possible for evil to triumph”. Finally, Franz Fanon nailed it simply with the following words “every on looker is either a coward or a traitor”. It is for you to choose where you belong.

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