Wednesday 24th August 2016 by THISDAY Newspapers Ltd

President Blames Prolonged Insurgency on Corrupt Officials ONSA develops terrorism threat levels, launches revised counter terrorism strategy Air assault kills Boko Haram leaders, 'Shekau' fatally wounded, military claims Senator Iroegbu in Abuja President Muhammadu Buhari has blamed the protracted

insurgency in the Northeast on corruption and the embezzlement of funds meant to acquire equipment to fight

terrorists in the regions by some government and military officials. Yet, as the president was laying

the blame on the doorsteps of some corrupt officials, the Nigerian military in its latest aerial assault against Boko

Haram enclaves in the Northeast, said it killed several of the sect’s commanders, including a fatally wounded man believed

to be the eccentric leader of the terror group Abubakar Shekau. Continued on page 8

FG Warns Nasarawa, Others Against Reduction of Minimum Wage, Working Hours… Page 48 Wednesday 24 August, 2016 Vol 21. No 7789. Price: N250

www.thisdaylive.com TR

UT H

& RE A S O

TSA: Nine Banks Barred from Forex Market, CEOs Appeal UBA complies, others ask CBN to sell them dollars to return NNPC/NLNG funds More sanctions loom over transfer of FX free funds

Bolaji Adebiyi in Abuja and Obinna Chima in Lagos

The Central Bank of Nigeria (CBN) yesterday barred nine banks from participating in the foreign exchange

market for failing to return a total of $2.334 billion of Nigerian National Petroleum Corporation (NNPC)/ Nigerian Liquefied Natural Continued on page 9

LIST OF BANKS YET TO RETURN NNPC/NLNG FUNDS United Bank for Africa Plc First Bank of Nigeria Ltd Diamond Bank Plc Sterling Bank Plc Skye Bank Plc Fidelity Bank Plc Keystone Bank Ltd First City Monument Bank Ltd Heritage Bank Ltd TOTAL

$530m $469m $287m $269m $221m $209m $139m $125m $85.5m $2.334bn

Buhari: We Won’t Use Force Against N’Delta Militants, Unless…

Kerry: Nigeria’s anti-graft war has become a model Tobi Soniyi in Abuja

President Muhammadu Buhari has said that government will not resort to the use of force to stop the militancy in the Niger Delta,

except it is forced to do so. A statement issued in Abuja yesterday by his media aide, Mr. Femi Adesina, said Buhari made the promise Continued on page 8

A RARE TOUR OF THE PALACE

The Sultan of Sokoto, Alhaji Muhammad Sa’ad Abubakar III, conducts US Secretary of State, Mr. John Kerry, around his palace during Kerry’s visit to Sokoto… yesterday

WEDNESDAY AUGUST 24, 2016 T H I S D AY

Make your expenses work for you with the GTBank Spend 2 Save Account

With the GTBank Spend 2 Save account, you automatically save 1â&#x20AC;&#x201C;5% of every debit transaction made on your GTBank account via ATM, POS or online. To open a Spend 2 Save Account, kindly log on to your Internet Banking profile on www.gtbank.com.

T H I S D AY WEDNESDAY AUGUST 24, 2016

WEDNESDAY AUGUST 24, 2016 T H I S D AY

DIGITAL BANKING AT ITS FINEST ENJOY UNMATCHED CONVENIENCE WITH PAYWITHCAPTURE 5.0

Instant account opening Savings Club ( Ajo, Esusu, Adashe) Link all bank cards Fund transfer from/ to any bank One click payment Loyalty programs p Bill payments

T H I S D AY WEDNESDAY AUGUST 24, 2016

WEDNESDAY AUGUST 24, 2016 T H I S D AY

RC 103022

T H I S D AY WEDNESDAY AUGUST 24, 2016

WEDNESDAY AuguSt 24, 2016 • T H I S D AY

PAGE EIGHT BUHARI: WE WON’T USE FORCE AGAINST N’DELTA MILITANTS, UNLESS… when he received the United

States Secretary of State, Mr. John Kerry, at the State House, Abuja. Buhari said though militancy in the Niger Delta had impacted negatively on the economy and affected the positive intentions of international and local investors, government was showing restraint not to use real force, “except when constrained to do so”. The president also pledged to make sure that the anti-corruption crusade outlives him. Buhari said that war against corruption would be deepened and institutionalised to last beyond the life of the current administration. He said: “We will insist on the standards we’re establishing. We are laying down administrative and financial instructions in the public service that must be obeyed. Any breach will no longer be acceptable. “We will retrain our staff, so that they understand the new orientation. And those who run foul of these rules will be prosecuted no matter who is involved. But we will be fair, just and act according to the rule of law. “Anyone accused of corruption is innocent till we can prove it. We will work very hard to establish documentation for successful prosecution, and those in positions of trust will sit up.” Buhari expressed his gratitude to the U.S. for the role it played before the 2015 polls, saying: “America did not do it because of what it stands to benefit from us. You did it for the Nigerian people. It says so much of what the U.S. stands for in the world.” On the Boko Haram insurgency, Buhari thanked the U.S. for both hard and soft military assistance. He said: “The training and intelligence that we could not muster ourselves, we received. The training has made Boko Haram less of a threat to Nigeria and the Lake

Chad Basin region, while the military hardware has given our troops added confidence.” On the economy, the president assured Kerry that the focus of his administration was on the diversification of the economy “having learnt our lessons from years of over dependence on oil”. In his remarks, Kerry commended the courage of Buhari in fighting corruption, saying: “We applaud what you are doing. Corruption creates a ready-made playing field for recruiting extremists. You inherited a big problem, and we will support you in any way we can. “We will work with you very closely. We don’t want to interfere, but will offer opportunities as you require.” The U.S. Secretary of State also pledged to assist in tackling the humanitarian challenges in the North-east, adding that his country would get the United Kingdom, France, and others “to augment the support”. “Nigeria is a priority for us. We won’t miss the opportunity to work together, because you are making significant progress,” Kerry said. After meeting with the president, Kerry also met with some state governors, namely, Aminu Tambuwal (Sokoto), Abdulfatai Ahmed (Kwara), Kashim Shettima (Borno) and Mohammed Abubakar (Bauchi). Briefing journalists after the meeting, the Borno State governor said during their meeting with Kerry, they discussed the insurgency in the North-east and the challenges it poses to the development of the region, among other issues. He said: “We had very fruitful, cross-pollination of ideas with the U.S. Secretary of State, John Kerry. The issues we dwelt on included enhancing the well being of our people and ensuring stability in the Nigerian nation. “We discussed the insurgency

and other security challenges in all sub-regions of northern Nigeria. But fundamentally, we made him realise that underneath the mayhem by Boko Haram lies the real cause, which is poverty. And we called on him to come in with America’s support in the areas of job creation largely in the areas of agriculture and mining. “We spoke on education which is essential for any society because the whole world is becoming knowledge driven. We requested support in the area of girl-child education and gender empowerment. And of course we sought for support in strengthening our health care facilities and health insurance that will really enhance the values of the lives of our people, because most of our problems are issues that can be attended to at the primary health care level.” Shettima said electricity generation through renewable energy was also discussed, adding that no society could grow without adequate power supply. “So we requested support in the area of renewable energy, be it through solar or wind,” he added. He explained that in spite of the advancement in science, nothing could replace personal contact in diplomacy. He said: “We were quite pleased by the warm reception and deep commitment to Nigeria by the Secretary of State and we are happy with the outcome.” Shettima said that by May 29 next year, all internally displaced persons (IDPs) would have been returned to their original homes. “On the issue of resettlement, the bulk of IDPs are from Borno State; the population of Maiduguri has swollen from two million to three million now. But where there is a will there is always a way. “Believe me by May 29th next year, we want our people to go

back to their homes. We are going to marshal whatever resources, with or without international support, to see that we have restored the dignity of our people. “We cannot wait for an eternity for manner from heaven or from the international community to develop our communities. The biggest IDP camp is in Kenya, but the Kenyan government has finally summoned the political courage to close down that camp. “In most of the camps, there are challenges of early marriages, child prostitution, drug abuse, gangsterism, etc. The sooner we close them down the better. In any case, no matter how good life is in the IDP camp there is no place like home. So we want to restore their dignity, so we will commence the rebuilding of Bama. “By May 29th next year, believe me, you will hear very little about IDP camps. However, we will adhere to the Kampala Convention, we will not compel anyone in IDP camps to go back to their communities. “But you know our people, they carry their poverty with dignity and they are willing to go back home,” the governor said. He thanked Buhari for saving Maiduguri, saying: ”We have to give credit to the president, because a year and a half ago, Maiduguri was on the verge of falling into the hands of Boko Haram, 20 local governments were under their control. But now most of our communities have been liberated and once full peace is restored, we see nothing that will stop us from moving our people back to their communities.” Answering questions from journalists, Shettima said a holistic approach would be employed to resolve the crisis created by Boko Haram. He said: “Well, unless we want to engage in an endless war of attrition, security is just one way of pursuing peace in the North-east and Nigeria

PRESIDENT BLAMES PROLONGED INSURGENCY ON CORRUPT OFFICIALS Speaking yesterday at the launch of the Reviewed National Counter Terrorism Strategy (NACTEST) by the Office of the National Security Adviser (ONSA), the president described the behaviour of the guilty officials as “disgraceful and wicked”. Buhari, who was represented by Vice-President Yemi Osinbajo, said that the selfish acts of the officials cost the nation thousands of lives, extended the reign of terror and strengthened the hold of territories in 27 local government areas in the country at a time. He lamented that the activities and the warped ideologies of the sect still linger through personal contacts and the social media. Buhari also described as mindless, the killings, kidnappings and destruction of churches and mosques carried out by Boko Haram terrorists, adding that such heinous activities are meant to instill fear in the citizens. He said: “In the past few years, our nation has faced the threat of terrorism characterised by mindless killing of our people, including children. The massacre of the BuniYadi boys in their hostels at night, the bombing of churches, mosques and market places, the kidnap of the Chibok girls, and many others. “The sheer recklessness of the killings and the shocking barbarity of executions were meant to terrorise and produce maximum fear. To further establish their reign of terror, they took territories and hoisted their tattered flag in almost 27 local governments in the North-east. “Sadly, because of the disgraceful greed and wickedness of men, some in government and some in high offices in the armed forces at the time, they embezzled funds meant to

equip soldiers to contain the terrorists. “Their incredible selfishness cost the nation thousands of lives, extended the reign of terror, and strengthened the enemy,” he stressed. The president however noted that his administration had since inception been committed “to the absolute defeat of the terrorists and to quicken and emboldened the morale of our armed forces”. He also restated his orders to the security agencies to ensure that those that threaten the peace of the country, including the lives and property of citizens, are brought to book. “I have repeatedly ordered our law enforcement agents, to ensure that the perpetrators of violence in any shape or form are arrested and made to face the law,” he said. Buhari stressed that a robust counter terrorism strategy was crucial in the fight against terrorism and must be constantly reviewed from relevance to contemporary challenges. To this end, he said that the launch of the revised counter-terrorism strategy, underscores the fact that terrorism has numerous ideologies, not static and the response must be dynamic and versatile. The president noted that “since May 29, 2015, we have committed ourselves as a government to the absolute defeat of terrorists, and to re-equipping and rebuilding the morale of our armed forces”. He added: “The gallant men and women of the armed forces, in a few months freed many from Boko Haram held territory and fatally degraded the fighting capacity of the terrorists. “Our neighbours in the Lake Chad basin area have been

tremendous allies in the various military engagements and unlike all evil the vestiges of their activities and warped ideologies still linger, through personal contacts, social media, capture and intimidation, men, women and even children are induced, persuaded or forced to engage in acts of terrorism. “This is why a robust and dynamic counter terrorism strategy is crucial in the fight against terrorism and must be constantly reviewed for relevance to contemporary challenges. “Today we are gathered to launch such a policy, a revised counter terrorism strategy, that revised strategy underscores the fact that we have recognised that terrorism is not static and our response must be dynamic and versatile. “I am pleased to confirm that this policy is fit for purpose and arguably responds to the current and imminent and future challenges.” Buhari, while warning federal ministries, department and agencies (MDAs) to ensure that their officers who have been trained adhere to the strategy, as contained in the document, also warned against rivalry in the fight against terror. He also noted that, even as many citizens are being released from captivity, the government is still faced with the severe challenge of malnutrition in the North-east. Against this backdrop, the president said he had tasked the vice-president to chair an interministerial team to quickly review the challenges and work with the multilateral development partners and other civil society organisations to resolve the problem. According to him, “There must

be an understanding that the war against terrorism is a most unconventional one, the enemy is essentially an insane nuisance, because he revels in cowardly attacks, does not obey any rules of warfare, kills the defenseless including prisoners, uses children as human bombs and consider the killing of any one as a victory. “Therefore, as we think through our strategy, we must remember that to permanently win the physical battle we must win the battle of the hearts and minds of even the most impressionable young men, who sign up to join Boko Haram and other violent extremist groups. “We must understand that terrorism is essentially a psychological warfare, and as such a psychologically sophisticated and nuanced response is necessary, we must also educate the millions of our young men through the leadership of our faith. “And we must let them know that neither Islam nor any other religion that we know endorses the slaughter of anyone, and anyone who kills the innocent and shouts that God is great either does not know the meaning of those words or is simply deranged. “We must work hard to provide opportunities for these young men and women who for years have lacked education and the real chance of doing-well; social investment programmes, home grown school feeding, and vocational and technical education are designed to give them real opportunities. “Today as hundreds are being released from Boko Haram captivity, Continued on page 9

as a whole. “We are on the same page with the federal government. We are adopting a holistic approach encompassing the political, economic, as well as the security elements in securing peace in the country. “Because the Boko Haram sect is not a uniform outfit with a shared ideology and focus, their perspective differs a lot. It’s like the Bermuda triangle, on the one hand, you have the economically induced Boko Haram which is amenable to dialogue and can lay down its tools and be part of the reintegration, deradicalisation, rehabilitation and resettlement process. “And then we have the die-hard Boko Haram that has been called the nihilist, people who are hell-bent on a suicidal journey and there is very little you can do, and you cannot even talk to them from a position of weakness. “Now, we can talk to them because we are in the position of strength and we are amenable to dialogue. I can assure you that the federal government is equally amenable to dialogue but the dialogue has to be conducted with the credible leadership of Boko Haram.” Also speaking on the meeting, the Kwara State governor said one area that was emphasised was how to take the meeting beyond being a talk shop. He said that there was a need for the governors to see it driven under an actionable plan that would translate to the expected goods and services for the people and truly strengthen the synergy for improved service delivery. In his remarks, the Sokoto State governor said Kerry made commitments specifically on education, with a particular emphasis on girl-child education, commitment on health care and renewable energy. He said: “On renewable energy, we talked on the programme of President Barak Obama and on Power Africa and overseas private investment operations, interventions in funding renewable energy projects across the north in particular, namely, solar energy and wind energy.” When the governors were asked whether they discussed the humanitarian crisis in the North-east with Kerry, the Borno governor explained that the issue of the humanitarian crisis was dear to the U.S. and that a chunk of the World Food Programme (WFP) was being funded by USAID. “The most important thing is that for us as a nation, the most fundamental thing is for us to recognise that nobody can solve our problems. We have to take charge of our destiny and do what is right to take care of the needs of our people,” he noted. He said governors did not discuss security with Kerry because “it belongs to the Exclusive List in our constitution and is not something we have the authority to discuss with a visiting foreign delegation.” Meanwhile, during Kerry’s stopover in Sokoto State earlier yesterday, he commended Nigeria, saying its fight against corruption has become a model for others on the African continent. He said corruption was not only criminal, but must be tamed to ensure meaningful development. Kerry made the remarks in a speech he delivered at the palace of the Sultan of Sokoto, Alhaji Sa'ad Abubakar III. The U.S. Secretary of State noted that the proceeds of corruption, when properly applied, could improve the living standards and provide decent livelihoods for Nigerians. Kerry acknowledged the efforts of Buhari to holistically fight corruption, adding: “President Muhammadu

Buhari has understood this, as he was elected on the platform of a clean government. “Nigeria is already a regional leader in the fight against corruption. Nigeria is also a role model in the ongoing global efforts to fight corruption,” he said. Kerry further acknowledged the ongoing efforts by Buhari to entrench morality, transparency, honesty and good governance. He noted that Buhari was also making commendable efforts to recover all stolen funds. Kerry stressed the need for the support of the military, other security agencies and the judiciary, among others, to ensure the success of the anti-corruption campaign. “The U.S. is also fully committed to fighting corruption and the entrenchment of good governance globally. One of Nigeria’s strength is its diversity of culture and religious tolerance. The former leaders of the defunct Sokoto Caliphate and others like the late Sir Ahmadu Bello had stood by the virtues of peace, unity and tolerance,” he said. Kerry also acknowledged the efforts of Buhari in fighting the insurgency and other crimes across the country. The U.S. Secretary of State further said: “Boko Haram boasts no agenda more than to burn schools. They also kill and maim people, especially teachers, and it is the opposite of any religion.” He expressed the commitment of the U.S. to work with its partners like Nigeria, to be able to build counter-terrorism capacities. Kerry further disclosed that the U.S. had worked out counter-terrorism strategies for implementation globally. He commended the Sultan for his relentless efforts to entrench peace, unity and prosperity in Nigeria and beyond. He also lauded the plan by the Sultanate Council to establish an all-female medical university. He said girls, women, children and other vulnerable groups must be educated, given jobs and opportunities to explore their potential. Responding, Tambuwal hailed the special relationship between the U.S. and Nigeria, and described Kerry’s visit to Sokoto as historic, saying the people of the state share common values with their American counterparts. The Sultan also commended Kerry for the visit and his “inspiring speech”. Abubakar said: “This will encourage us to redouble our efforts for a stronger, united and prosperous Nigeria.” The visit, which was held under tight security, was witnessed by religious, traditional and community leaders, as well as students and other youth groups in the state.

TOP GAINERS NGN NGN SEPLAT 25.11 270.11 FORTEOIL 0.24 170.10 WEMABANK 8.10 0.64 TRANSCORP 0.05 1.18 IKEJHOTEL 0.07 1.78 TOP LOSERS NGN NGN UNITYBANK 0.08 0.83 ACADEMY 0.03 0.60 CONTINENTAL 0.04 0.94 CUTIX 0.07 1.65 ASL 0.08 2.11 HPE Nestle Nig Plc ₦835.00 Volume: 182.247 million shares Value: N2.934 billion Deals: 3,113 As at 23/08/16 See details on Page 46

% 10.2 5.0 4.9 4.4 4.1 % 8.7 4.7 4.0 4.0 3.6

T H I S D AY • WEDNESDAY AUGUST 24, 2016

PAGE NINE

Buhari Condemns Killing of Eight Persons for Alleged Blasphemy Tobi Soniyi in Abuja President Muhammadu Buhari has condemned the killing of eight persons in Zamfara State for allegedly insulting Prophet Muhammed. The president, in a tweet, said

he “received news of the mob killings in Zamfara with great dismay”. “I assure that the law will take its course. My prayers are with the families of the victims,” he said. The president described the attack as “barbaric and

unacceptable”. Some students of Abdul Gusau Polytechnic on Monday descended on a man they accused of blaspheming Prophet Mohammed. They also set those who tried to shield him from their attack ablaze. The attack occurred at Talata

Mafara, a town in Zamfara. In the past, the president had been accused of not speaking out when fundamentalists killed in the name of religion. Apart from the information on the twitter handle, the president’s media team has not issued any

statement condemning the attack in Zamfara. However, the president had in a statement in the past said: “Under my watch we will work to ensure that there is no place for violence in the name of religion, ethnicity, or in any guise whatsoever.”

“For one, most of the power companies are not in a position to repay their loans because of the Niger Delta crisis, the non-availability of gas, transmission problems, and the huge indebtedness of government MDAs to the electricity distribution companies (DISCOs). “Also, several of the oil and gas sector loans were given to the international oil companies (IOCs) to cover the gap arising from the federal government’s failure to pay its cash call arrears. “So if the government can fund its cash calls obligations, the IOCs will be able to pay us back and we in turn can refund to the TSA.” Another CEO of one of the affected banks said the bank would need more time to readjust their risk assets, adding: “We all have the naira to pay back but due to dollar illiquidity, it will be hard to do so immediately.” He suggested that the CBN provides the nine banks with the dollars to pay back, saying: “If the CBN gives us the dollars tomorrow, we will pay.” One market analyst also wondered why the same CBN which forced the states to restructure their loans to 20-year tenures has now turned round to ask the banks to repay the dollar deposits in 24 hours. “If the CBN could help the states restructure their loans, the banks should also be given the same chance to do so to avoid any unintended consequences,” he said. He said that it also did not make sense for the CBN to insist that the NNPC/NLNG dollar deposits be refunded because they would have to be domiciled with the JP Morgan overseas, where all of Nigeria’s foreign reserves and dollar deposits are domiciled. “I do not understand the benefit of taking dollars from Nigerian banks and sending them abroad to the CBN’s account with JP Morgan. This will be counterproductive because under Chukwuma Soludo’s headship of the central bank, he introduced a policy that enabled some of the dollar deposits belonging to MDAs to be kept with Nigerian banks.

“This was done to grow their balance sheets, enable them to meet their foreign obligations and fund Letters of Credit (LCs), and this policy was continued by Sanusi. “So by asking the banks to refund the dollar deposits to the TSA, the government must understand that the CBN does not domicile dollars and will have to export it to JP Morgan abroad, effectively strengthening those banks and weakening Nigerian banks,” he said. In their review of the matter, Lagosbased CSL Stockbrokers Limited in a note yesterday said that most of the banks they spoke to blamed their inability to comply on the tight dollar supply in the system. “Judging from a similar event last year when three banks (FBN, Skye and UBA) were fined for non-compliance with TSA, we believe the CBN may impose various fines on these banks as a disciplinary action. “Of greater concern to us is the ability of these banks to remit these funds given the illiquidity in the market,” CSL added. Furthermore, the investment firm pointed out that the inability to remit these funds would mean staying away from all FX transactions for an extended period, adding that the inability to participate in all FX transactions, among many other implications, would mean the loss of FX trading income for the period of the suspension; inability to carry out trade services as Letters of Credit (LCs) cannot be opened and this also implies loss of fee and commission income from such transactions; and the potential loss of customers. “Though it is most unlikely that these banks will resort to the parallel market to get these funds given the huge losses that it would involve, the inability to access the official FX market may imply that the banks meet their immediate dollar obligations from the parallel market and this may mean a further hike in parallel market rates,” the firm added.

Meanwhile, the CBN is currently

investigating the activities of exporters and banks that aid them in carrying out illicit FX transfers under the guise of free funds. Free funds is a term used by banks that aid illicit transfer of funds for FX recipients that sell foreign currencies to buyers who do so without providing documentation in breach of CBN regulations requiring all users of FX to do so. According to banking sources, the implication of dealing in free funds is that the official FX market is deprived of liquidity, thereby limiting FX supply to the market. The CBN recently issued a circular forbidding banks from conducting free funds transactions for exporters. It is estimated that by the illicit activities, the FX market is currently deprived of up to $6 billion annually, said an industry source, adding that in an environment of FX scarcity, the central bank intends to curb the activities of illicit exporters in the country. This investigation, he explained, was triggered after CBN’s discovery that the inflow of FX proceeds by exporters had dropped drastically. He said: “In order to rein in exporters, the CBN is in the process of strengthening its export regulations by forbidding exporters using Bills of Collection and open accounts in conducting their export businesses.” Investigations by THISDAY further revealed that some exporters recently perfected a scheme that would enable them export goods from the country without documenting the transactions. This is done with the aid of some unscrupulous customs officials at the country’s export terminals who deliberately allow the export of goods without documentation. Investigations also revealed that large exporters, particularly those owned by foreigners, are involved in this scam. The source disclosed that large quantities of cocoa, hides and skin, cashew and Gum Arabic are exported through these illegal channels without documentation by the exporters.

“The authority to issue the appropriate threat levels lies with the ONSA. The NSA will issue appropriate threat levels based on the threat analysis and risk assessment by the Joint Terrorism Analysis Branch (JTAB) whose work is dependent on inputs from relevant intelligence gathering and security agencies,” he explained. As a complement to the Threat Level System, Musa disclosed that ONSA had also developed a national handbook on safety and security tips as a basic compilation of simple guides for personal and corporate security. According to him, the handbook will enlighten the populace on critical security measures required at all levels of terror threats. “It is in this regard that this document has been translated

into the three main languages, in the first instance, and to others subsequently to give it the much needed circulation among the citizenry,” he said. As the revised strategy on counter terrorism was being launched, the Nigerian military said yesterday that its recent aerial assault against the Boko Haram enclaves in the North-east killed several of the sect’s commanders including a fatally wounded man believed to be the leader of the group Abubakar Shekau. Nigerian Army spokesman, Col. Sani Usman, in a statement, said the feat was achieved through what he described as the most unprecedented and spectacular air raid by the Nigerian Air Force (NAF). “We have just confirmed that as

a result of the interdiction efforts of the NAF, some key leaders of the Boko Haram terrorists have been killed while others were fatally wounded,” he stated. Usman said that the air interdiction took place last week Friday, August 19, 2016, while the terrorists were performing Friday rituals at Taye village, Gombale general area within Sambisa forest, Borno State. According to him, “Those Boko Haram commanders confirmed dead include Abubakar Mubi, Malam Nuhu and Malam Hamman, among others. While their leader, so called ‘Abubakar Shekau’, was believed to be fatally wounded on his shoulder.” The army spokesman said that several other terrorists were also wounded.

Buhari

TSA: NINE BANKS BARRED FROM FOREX MARKET, CEOS APPEAL Gas (NLNG) Company dollar deposits to the federal government’s Treasury Single

Account (TSA) domiciled with the central bank, as directed by the presidency last year. In addition to suspending them from the FX market, the affected banks, according to industry sources, still face the prospect of further financial fines, which shall be communicated to them by the CBN in the coming days, THISDAY learnt. As exclusively reported by THISDAY yesterday afternoon, the affected banks, whose suspension would remain in force until they remit all the funds to the TSA, are the United Bank for Africa (UBA) Plc - $530 million, First Bank of Nigeria (FBN) Ltd. - $469 million, Diamond Bank Plc - $287 million, Sterling Bank Plc - $269 million, Skye Bank Plc -$221 million, Fidelity Bank Plc - $209 million, Keystone Bank Ltd. - $139 million, First City Monument Bank (FCMB) Ltd. - $125 million, and Heritage Bank Limited - $85.5 million. However, the executives of the affected banks have appealed the sanction by the central bank, explaining that the remittances were delayed by the dollar illiquidity in the system and the CBN should sell them the dollars by debiting their accounts so that the respective amounts can be returned to the TSA. UBA, nonetheless, not wanting to take any chances, immediately complied with the CBN directive by transferring the NNPC/NLNG dollar deposits domiciled with it to the TSA. UBA, sources revealed, was able to achieve this yesterday by asking the CBN to net off the federal government’s indebtedness to the bank which exceeded $450 million, thus enabling the bank to return the balance last night. However, a CBN source said they were yet to get confirmation of UBA’s transfer, perhaps owing to the time it was sent, but would confirm the payment today. Since the September 15, 2015 deadline set by the federal government

for all accounts of ministries, departments and agencies (MDAs) with commercial banks to be closed and remitted to the TSA, the central bank has imposed hefty fines on erring banks for non-compliance. First to face the ire of the central bank last November were FirstBank and UBA, which were respectively forced to cough up N1,877,409,905.12 and N2,942,189,651.45. The penalties represented five per cent of the unremitted funds. Two weeks later, Skye Bank Plc came under the regulator’s hammer, when it was hit with a N4 billion fine, representing 10 per cent of the funds belonging to MDAs. Other banks that paid fines for TSA infractions last year were Zenith Bank Plc (N60.1m), Guaranty Trust Bank Plc (N60.05m) and Sterling Bank (N13m).

Banks React Reacting to the latest sanction, UBA in a terse statement last night said it had completely remitted all NNPC/ NLNG funds to the TSA. A statement by the bank’s spokesman, Mr. Charles Aigbe, said: “Our attention has been drawn to report of the ban of UBA from the foreign exchange market by the CBN over the non-remittance of NNPC/ NLNG dollar deposits. “We wish to state very categorically that UBA has completely remitted all NNPC/NLNG dollar deposits. “We thank all our numerous customers, business partners and other stakeholders who have reached out to us on account of this report.” UBA was however silent on when exactly it returned all dollar deposits belonging to NNPC/NLNG to the CBN. Also, in their reactions, the Head of Corporate Communications at FCMB, Mr. Diran Olojo, and his counterpart at Skye Bank, Mr. Nduneche Ezurike, assured customers and stakeholders of the banks that the matter would be resolved. Similarly, the spokesperson of Diamond Bank, Mrs. Ayona Trimmel, assured the bank’s customers that the

matter was being resolved. She explained that since October last year, Diamond Bank had refunded $700 million to the TSA, adding that full remittances of the balance of $287 million had been hampered by the dollar scarcity in the financial system. “Diamond Bank is fully in a position to pay the naira equivalent and will comply with the CBN directive on the outstanding dollar amount promptly,” she said. A senior executive officer of one of the affected banks, who spoke with THISDAY on the condition of anonymity, further explained that the failure of the financial institutions to comply was as a result of the on-going restructuring of oil and gas loans. It was gathered that there was a meeting between the CBN and the affected banks last night on how to resolve the matter. An official of Fidelity Bank also told THISDAY that his bank had been complying with a repayment schedule agreed with NNPC. “We got a repayment schedule which we have been meeting. Our original indebtedness was about $500 million and it was only in June we were unable to make a refund based on the schedule due to the dollar scarcity,” he explained.

CEOs Appeal However, two bank chief executives who spoke to THISDAY last night expressed concern over the decision to suspend the banks from the official FX market, cautioning that this could have unexpected consequences on the financial system and increase pressure on the parallel market, where the nine banks would be forced to turn to source their dollar requirements. One bank CEO, who preferred not to be named, said: “While we are not fighting the government in its wisdom for setting up the TSA, but we should be given time to refund the outstanding amounts, because most of these funds were loaned to the power sector during the privatisation programme, as well as the oil and gas sector.

More Sanctions Loom

PRESIDENT BLAMES PROLONGED INSURGENCY ON CORRUPT OFFICIALS we are faced with serious problems of malnutrition in children. I have asked the vice-president to chair an inter-ministerial team to quickly review the situation and work with our development partners and overseas experts to resolve this particular problem.” In launching the revised counter terrorism strategy, the National Security Adviser (NSA), Major General Babagana Monguno (rtd), said the revised strategy explains what organisations and individuals can do to help in its implementation in order to reduce the risks of terrorism and ensure that people go about their lives freely and with confidence. Monguno said the new strategy is anchored around five streams aimed at forestalling, securing, identifying, preparing and

implementing with key objectives and indicators “to effectively ensure monitoring and evaluating successes at each stage”. He said his office had developed a benchmark framework for the evaluation of the implementation of the former strategy to combat terrorism, which was reviewed to include salient areas like the Nigeria Countering Violent Extremist Programme, which is a very critical pillar in the fight against terrorism and will engender sustainable peace. “The NACTEST desks in MDAs have been established to drive the process so that the menace of terrorism must now be addressed from a multi-dimensional and multi-pronged and all of society approach, in order to make it all encompassing,” he explained.

Before Moguno spoke, the Coordinator, Counter Terrorism Centre (CTC), Commodore Yemi Musa, said ONSA, in furtherance of the national counter terrorism efforts, developed the National Terrorism Levels document to guide MDAs on measures to be taken on receipt of information on a likely terrorist attack. Musa said the document, which outlines the alert levels and the actions to be carried out when a terrorism alert level is declared comprises five-levels. These are Critical (Red) Attack is imminent; Severe (Orange) – Attack is highly likely; Substantial (Yellow) – Attack is a strong possibility; Moderate (Blue) – Attack is possible but not likely; and Low (Green) – Attack is unlikely.

WEDNESDAY AUGUST 24, 2016 • T H I S D AY

NEWS

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

Over N700bn Budgeted for N’Delta in Six Years Yields Only 8% Impact on Region Audit committee uncovers 90% uncompleted projects Minister says FG may recover huge unaccounted funds

Ndubuisi Francis in Abuja A total of N700,538,741691.30 budgeted for the Ministry of Niger Delta Affairs between 2009 and 2015 with 60 per cent disbursement, has yielded only eight per cent impact in the region, a development that may have continued to ignite the seemingly unending violent agitations by youths in the area. A Technical Audit Committee set up by the Minister of Niger Delta Affairs, Pastor Usani Uguru Usani, which turned in its report yesterday, said the total cost of projects within the period was N700,538,741,691.30, excluding services (security, rent and facility management). According to the committee

headed by Yerima Bulama, a cumulative sum of N446,421,385,864.41 was certified for payment but N423,172,256,347.84 was paid, leaving an outstanding of N32,111,887,779.32. In other words, between 2009 and 2015, about 60 per cent of 425 projects awarded were paid for, but approximately 40 per cent of work was practically achieved, the report said The Bulama committee said there was evidence of repetition of programmes and conflict of projects in the region by the Niger Delta Affairs Ministry, Niger Delta Development Commission (NDDC), Niger Delta Amnesty Programme, state and local governments. It reported a violation of

contract award process right from the cycle of procurement planning to contract award as inconsistencies with the provisions of vital aspects of the Procurement Act were rife. It also found out cases of indiscriminate award of contract by initiating and benefiting departments without the leading and guiding role of the procurement department. Contract awards also never took cognisance of availability of funds and annual appropriation provisions, the report said, adding that the structure and content of some contract agreements were loose for checks and balances, and hardly protected the interest of

the ministry in case of disputes. On delivery and capacity, the Bulama committee noted that the imminent picture of abandoned and uncompleted projects was as disturbing as the retinue of projects that extremely exceeded the dates of completion. “This manifestly emanated from inconsistency in government annual budgetary provision and lack of capacity to deliver especially where funds released do not correspond with performance. Most contracts were awarded with specific dates of completion but were not captured in subsequent appropriations.

“This further exacerbated contractors’ poor performance and inability to achieve project objectives. Consequently, no capital project was completed within the stipulated time frame,” the report said. It added that it was obviously revealing that the ministry and its consultants alike had neither well-structured nor coordinated monitoring nor evaluation (M&E) mechanisms, which ought to have been pre-scheduled and followed tenaciously. “In some cases, Engineers Representatives (ER) and the consultants as well as the Planning, Research and

Statistics Department (PRSD) have broad discrepancies in performance, certification, dimension and quality of delivery. As a matter of fact, the ministry’s state coordinators had little or no knowledge of projects scopes and locations. “Cost and performance: Generally, the cost of projects in the ministry were relatively higher than those obtained in other establishments, like the (NDDC) which also operate in the same region. One which calls for serious scrutiny is the cost of roads. For instance, there was no standard to determine the cost of a kilometer in a twolane, three-lane or four-lane roads,” it said.

Buhari Congratulates Sultan of Sokoto at 60 Tobi Soniyi in Abuja President Muhammadu Buhari has congratulated the Sultan of Sokoto, Muhammadu Sa’ad Abubakar III, on his 60th birthday today. A statement issued yesterday by the Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, said Buhari joined the people and government of Sokoto State, the Muslim community and family members of the Sultan in celebrating the unique anniversary. The statement reads: “As the head of Jama’atu Nasril Islam (JNI) and President-General of the Nigerian Supreme Council for Islamic Affairs (NSCIA),

the president affirms that the Sultan has demonstrated uncommon leadership style, patriotism and wisdom in his consistent advocacy for security, peace and unity of Nigeria. “Buhari believes that the wise counsels and support of the royal father on issues of good governance, girl-child education, infant and child mortality, and agriculture has greatly enriched his administration’s efforts to improve the livelihood of Nigerians.” Buhari prayed that the almighty Allah would grant the Sultan good health and long life to continue in the service of humanity.

Budget Scandal: Abdulmumin to Meet Presidential Arms C’ttee Aug 31 Damilola Oyedele in Abuja The sacked Chairman of the House of Representatives Committee on Appropriation, Hon. Jibrin Abdulmumin, has received an invitation from the Presidential Advisory Committee against Corruption to brief the committee on the allegations of corruption levelled against the House Speaker, Yakubu Dogara, and three principal officers. Abdulmumin revealed this on his twitter handle yesterday. “In another victory for my journey to ensure that justice is served on Dogara, Lasun, Doguwa, Ogor and nine other members, I have received official invitation from the Chairman of the Presidential Advisory Committee against Corruption, Prof. Itse Sagay (SAN), to make a comprehensive presentation

to the committee on the allegations I raised against the Speaker and others, and discuss strategies on how to achieve results. The letter was signed by Executive Secretary of the Committee, Prof. Bolaji Owasanoye,” the tweets read. THISDAY gathered that he was expected to meet with Sagay led committee on August 31, 2016, at 11a.m. The lawmaker last week had petitioned the committee and requested to make an appearance to present his testimony. Abdulmumin had also petitioned the police and the Economic and Financial Crimes Commission (EFCC), accusing Dogara and others of allocating to themselves N40 billion out of the N100billion allocated to the National Assembly, and making senseless insertions into the 2016 budget.

RETIRED,BUT NOT TIRED

L-R: Retiring Archbishop Diocese of Mainland and Lagos Province, Anglican Church, Most Rev. Adebayo A. Akinola; former Head of Interim National Government, Chief Ernest Shonekan; Chairman, De Jones Petroleum, Chief Tony Ezeh; and former Governor of Anambra State, Mr. Peter Obi, during the anniversary thanksgiving and retirement service for Akinola at the Cathedral of Saint Jude, Ebute Meta, Lagos....yesterday KOLAWOLE ALLI

Gowon Asks Nigerians to Be Patient with Buhari Tobi Soniyi in Abuja Former Military Head of State, General Yakubu Gowon (rtd), yesterday begged Nigerians to be more patient with President Muhammadu Buhari, saying all would be well very soon. Speaking with State House correspondents in Abuja after he met with Buhari behind closed doors, Gowon said the president was trying to fix the country and that Nigerians would begin to see the effect very soon. On the kidnapped Chibok Secondary School girls, the former military ruler said the government needed credible information to work with, adding that at present, no one knew the actual location of the girls. When asked why he was in the State House, he said: “I have come to see the president, to say hello to him. I haven’t seen him for quite some time. This time I have come to see him to pay my respect to him and

to let him know that I’m going out of the country on vacation on my programme on Nigeria Prays in the United Kingdom and the United States towards the end of this month, and early next month. So I have come to let him know that I would be out of the country,” in case he wants me, he knows that I’m out and he is going to pay my way back, if he wants me back for any programmes. “Of course we discussed the general affairs of the country, the problems of the country; his fight against corruption and all the efforts that he is making to deal with it and of course, the impatience of the public to see results of the fight which have yet to be found, since people have not been prosecuted yet, which would soon begin.” Gowon said he appreciated Buhari’s efforts and determination to rid the country of corruption, which he said had been one of the problems holding he country

down and creating serious set backs for the country both nationally and internationally. He said: “Of course, we also discussed the current situation about the Chibok girls and the efforts the government is making to rescue them.” The former leader said the government needed to get credible information about the whereabouts of the girls and also those that would assist the government achieve that. Gowon said: “I believe that the government is certainly determined to ensure that a number of these girls are brought back home safely as soon as possible. To achieve that, certain credibility must be established of our sources on information on their location, but at present, no one knows where these girls are, and all these information that you have been getting, I don’t know their sources, but all efforts at engaging the international media and sources are necessary so that

this matter can be resolved once and for all. “Again, we talked generally on the country and efforts the government is making to give the people what they want and to see that they have money, but please remember we used to sell petroleum at $ 150 per barrel, but what is it today? It’s merely around $ 30 per barrel and the amount of crude oil we used to produce thrn was over two million and now it has gone down to about one million because of the problem we have been having when people have been blowing pipelines in the Niger Delta area. So we have problem and there isn’t enough money to go round. So very soon, with the efforts the government is making to get things back to normal, making contacts with the Avengers and other aggrieved militants in the Niger Delta who are creating havoc there, we hope that all will be well soon.”

T H I S D AY WEDNESDAY AUGUST 24, 2016

TOWN HALL

GUNS, COPS & BLACK LIVES LIVE FROM WASHINGTON DC WedNeSdAY, AuguSt 24, 2016 • 9pm gmt (5pm eSt) HOSTED BY

DEBBYE TURNER BELL AND CHARLES ANIAGOLU WHAT’S HAPPENED SINCE MICHAEL BROWN? Continued shooting of unarmed African Americans 37% of unarmed people killed by police were black in 2015 despite being only 13% of the U.S. population Has Black Lives Matter gained or lost traction? Do protests achieve anything? Impact of personal cameras & social media Freddie Gray officers not found culpable

US DEPARTMENT OF JUSTICE FINDS EGREGIOUS RACIAL BIAS IN BALTIMORE POLICE DEPARTMENT How to change the culture? How prevalent in other cities? Broken Window policing – why it unfairly targets blacks Do military-style armaments lead to overwhelming police response? Do body cameras work to reduce excessive force?

IS AMERICA BECOMING MORE RACIALLY DIVIDED? Black Lives Matter vs Police Lives Matter Despite election of President Barack Obama, racism remains strong Trump & Hillary’s positions on police shootings Who’s the best candidate to effect positive changes?

BLACK VS. WHITE PARENTING

What can be done to repair the damage? Fixing the economic divide Successful community/police programs Role of black churches What about the optics? Why this wonderful Police/Community barbecue in Wichita, KS helps. Join the conversation live on

on The ARISE News Channel: SKY Channel 519, Freeview Channel 257, DSTV Channel 416, GOtv Channel 44 and on Eutelsat EB9 across Europe, Middle East and Africa. Also live on www.arise.tv and www.thisdaylive.com

WEDNESDAY AUGUST 24, 2016 • T H I S D AY

NEWSXTRA

CBN Suffers Budget Cut, Funding for Financial Initiatives Hampered James Emejo in Abuja

The Director, Financial System Stability (FSS 2020), Central Bank of Nigeria (CBN), Mr. Mohammed Suleiman, yesterday said a 50 per cent slash of the bank’s 2016 budget by the federal government has affected funding of some important initiative in the financial system. Speaking in Abuja when he led the FSS 2020 team on a courtesy call to the Nigeria Deposit Insurance Corporation (NDIC), he said funding had been a major constraint to FSS 2020 strategy implementation. He said: “Funding has been a major issue, the FSS 2020 programme since its inception has always been bankrolled single handedly by the CBN. The CBN is beginning to weary a little bit because the current budget this year was reduced by 50 per cent and that is majorly affecting some of our capabilities to implement some of these strategic objectives.” According to him:”50 per cent of our budget cut is no small measure at all. We need to agree on the funding approach, we need to have a rethink and get the support of all implementing institutions. The FSS2020

is not a CBN project it is a financial system project, all financial system players have to take ownership of the project and be willing to support it.” During the exchange of views on the way to move the Fs2020 project forward, an official of the NDIC revealed that it costs around N198 billion to fund the FSS2020 project. The Director of FSS2020 who is also a staff of the CBN, noted: “We will structure the FSS2020 to include dedicated team for monitoring, tracking and reporting and ensure regular quarterly or biannual meeting of stakeholders for the progress and implementation of the strategy.” Suleiman identified some of the challenges the FSS2020 team have had to grapple with to include: inadequate financial skills development particularly in the capital market; unavailability of investable funds for long term financial products; non existence of listing rules for special purpose vehicles; increasing cost of transactions and operations; weak risk management. Other challenges include: low level of card usage on POS and high ATM usage for cash transactions; physical insecurities and prevalence

of financial fraud; low levels of financial literacy and inclusion; low acceptability of Mobil payment and merchant locations; non existence of sound collateral management; inadequate legal and regulatory framework for commodities market and unwillingness of private companies to go public; inadequate foreign direct investment and non existence of integrated credit scoring system. To ensure that the FSS2020 project does not fail because of lack of funds, Suleiman stated that “the intervention is to advocate that agencies making budgetary provisions provide funds for development

because these products need the support of budget to implement them.” He also expressed concern that Nigeria does not “have the required skills for these products, we need to build the capacity of the industry, we have started capacity building at Woodpecker for heads of strategy of implementing institutions who were in attendance at Golden Tulip in Lagos recently. The FSS2020 director then revealed that that capacity building programme “cost the CBN £144,000 because facilitators were brought in from the UK. We will also build capacities in the bonds markets and derivatives.

“Already, they have identified agencies that will take ownership of these strategies, they are CBN, SEC, NSE, NDIC, PenCom, National Assembly, Nigeria Commodities Exchange, Budget and National Planning, Federal Ministry of Trade and Investment, SMEDAN and SON (they will be in charge of setting standards for the commodities to make them fit for purpose).” Suleiman decried what he called inadequate legal framework and to address this inadequacy, the secretariat of the FSS2020 has come up with some planned interventions to address the

inadequate legal framework. He said they have been able to come together with other stakeholders to create some legislative interventions through bill for the consideration of the National Assembly. “Some of the interventions behind the bills that we have crafted about three weeks back are the warehouse receipt bills, the securitisation bill, the mortgage and allied matters bill, and the SMEDAN amendment bill these are bills that we have so far reviewed and are ready for transmission to the Federal Executive Council (FEC).”

Economic Team Yet to Advise President to Seek Legislative Amendments Tobi Soniyi in Abuja The Office of the Vice President has said the Economic Management Team has not advised President Muhammadu Buhari to seek executive powers. It said it had been considering several policy options and measures to urgently reform and revitalise

the economy. The Economic Management Team his headed by the Vice President, Prof. Yemi Osinbajo. The office, in a statement issued by the Special Assistant to the Vice President on Media and Publicity, Laolu Akande, said some of these measures might well require legislative amendments and presidential orders that would

enable the executive arm of government move quickly in implementing the economic reform plans. The statement read: “The Economic Management Team has indeed been considering several policy options and measures to urgently reform and revitalise the economy. Some of these measures may well require legislative

amendments and presidential orders that will enable the executive arm of government move quickly in implementing the economic reform plans. “As far as I know, this has not been passed on to the president, the Federal Executive Council or the legislative arm of government. So at this point, there are no further details to share.”

T H I S D AY WEDNESDAY AUGUST 24, 2016

T H I S D AY • WEDNESDAY, AUGUST 24, 2016

COMMENT

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

WANTED: A NEW HEALTH MINISTER (2)

Sonnie Ekwowusi urges the health minister to pay more attention to basic health issues

y UNTH consultant friend further shocked me with the stories of how poor children in Enugu, Nsukka, Abakaliki and their surrounding villages regularly die in their respective homes from preventable illnesses and from lack of simple vaccination and immunisation. This is not a peculiar Enugu State tragedy. It cuts across the country. For example, if you step outside the South-East and travel to, maybe, the South-West, you will find similar cases. Take a trip to Borno, Kano, Zamfara or Sokoto States and you will fall short of words to describe the miserable lives of so many women and children who also lack access to basic primary health care. And if you dare visit the Internally Displaced Persons (IDPs) camps, you will shed tears after seeing the uncountable number of children and women dying from lack of food and ineadequate medical attention. It is baffling that amid the aforesaid health challenges, Health Minister Prof. Isaac Adewole is more interested in population reduction even though it is not our priority at the moment. In any case, Prof. Adewole is appointed a health minister not a population controller minister. So, why should he be exerting his energies in population control matters and leaving unresolved the more urgent primary health care challenges? Is Adewole not aware that due to the exorbitant ante-natal and post-natal bills, many Nigerian pregnant women are still delivered of their babies at home by traditional birth attendants and in the process many lose their lives? Has Adewole forgotten that primary health care and outpatient clinic services are yet to be decentralised to reach the suffering and dying women in every state, local government and ward in Nigeria? If the answers to the above queries are in the affirmative, why is Adewole seeking alibi in questionable population control issues instead of focusing on the real health needs of the Nigerian people? It is absurd, if not downright stupid to argue that the solution to Nigeria’s deplorable health care system at the moment is population control via contraception and abortion. Why do we fail to get our priorities right in Nigeria? You may ask: what is the business of the health minister with population control? Why is UNFPA Executive Director Prof. Babatunde Osotimehin always pressuring every Nigerian government to make abortion and contraception accessible even to Nigerian teens in secondary schools? You will recall that Prof. Osotimehin pressurised the Jonathan administration to legalise abortion and contraception in Nigeria but failed in that bid. For example, on page 36 of THISDAY Newspaper of November 22, 2012, Osotimehin

IT IS ABSURD, IF NOT DOWNRIGHT STUPID TO ARGUE THAT THE SOLUTION TO NIGERIA’S DEPLORABLE HEALTH CARE SYSTEM AT THE MOMENT IS POPULATION CONTROL VIA CONTRACEPTION AND ABORTION

stated that only investment in abortion and contraception would lead to increased productivity and economic development in Nigeria. Anyway, having failed to get the Jonathan government to legalise abortion and contraception, the same Osotimehin is now mounting pressure on the Buhari government to make abortion and contraception more accessible to a greater number of Nigerians. Two weeks ago Prof. Osotimehin approached President Muhammadu Buhari with the aforesaid demand. This is sad. I am sure the president is not listening to Osotimehin and his ilk. In a country where the average citizen suffers from genteel poverty and illnesses, it is illogical to demand that the Buhari government should spend its hard earned income on trivialities Health minister Adewole argues that population reduction will boost the economy and improve the quality of life for women and children. This is not true. As I said earlier, the best way to improve the quality of life for Nigerian women and children is through the provision of qualitative health care that is accessible, acceptable and affordable to Nigerian women and children. I still maintain that Adewole is not properly focused otherwise he would have known by now that now is not the best time for population reduction campaigns. We need a more focused health minister. Whereas the Buhari government is bent on diversifying the Nigerian economy through people-oriented agriculture in order to come out of the present economic recession, Prof. Adewole is promoting an anti-people population reduction policy. Agriculture thrives on population. Thus population growth is not a threat to Nigeria. Instead of seeing population as a threat, population should be seen as a great catalyst for economic growth. The vibrant young people that constitute the bulk of Nigerian population are indeed a vibrant work force that should be used to fast-track Buhari’s agricultural revolution. In case Prof. Adewole does not know, countries like China, Bangladesh, India and many Asia countries have reaped enormous demographic dividends from their respective large populations in the last 30 years. The Chinese economy has been growing steadily in the last 15 years. The Chinese are everywhere today thanks to their huge population. The demographic catastrophe that hit China as a result of its one child policy has forced it to recently reverse the one child policy. Therefore a large population is an asset not a liability. The popular aphorism is that population is power. Population is money too. Small wonder virtually all the big-player telecommunications companies have invested in the Nigerian market. They are obviously reaping huge profit from Nigeria’s large population.

THE IRONY OF DEMOCRACY

The people should be allowed to choose their governorship candidate in the APC primary election in Ondo State, writes Francis Olagbuji

n their popular work, “The Irony of Democracy,” Thomas Dye and Harmon Zeigler, contended in an enlightened conviction that life in a democracy is shaped by a handful of people. The expected mass participation by the people is just a smokescreen as a small group of elite eventually dictates who gets what, how and when. Harold Lasswell also corroborates this notion when he wrote that even in a democracy, a few exercises a relatively great weight of power, adding that the elite are the few who participate in discussions that shape our lives. However, the authors have an important advice for the elite when they contended that for the survival of democracy, they must govern wisely “if government by the people is to survive”. Otherwise the basic interest of the elite is essentially imperilled and that would be a disaster. The above summation of the delicate position of the elite in any political formation represents the kernel of the jigsaw puzzle currently rocking the Ondo State chapter of the All Progressives Congress (APC) barely a week to its primary election. Admittedly, it is a quandary that has the potential of decimating the party and possibly losing its pride of place during the November governorship election on account of the in-fighting among the governorship aspirants on who becomes the candidate of the party. Opinions are widely divided on this and now a source of worry to the stakeholders. To the avid follower of the state politics, it is now settled that Ondo North will likely present the candidate but even at that, the

division within that senatorial district is well known as the sole ticket has raised the peculiar factor of favouritism as alleged by an aspirant, Dr. Tunji Abayomi, who in a recent letter to the national leader of the APC, Asiwaju Bola Ahmed Tinubu, claimed another aspirant in the person of Mr. Olusegun Abraham had been anointed as the party’s candidate, a move he criticised. Abayomi went on to claim that the national leader’s influence was already being deployed as he had allegedly asked the party leaders to queue behind Abraham. Although this claim was initially pooh-poohed but the sequence of events that followed like the press conference by the “Akoko Leaders of Thought” and that of the APC ward chairmen in Ondo State either endorsing or asking party members to respect the “words of elders” put paid to Abayomi’s assertions. Interestingly, Asiwaju Tinubu himself had come out in his own letter to Abayomi, to state clearly that he has a right to support any individual he likes which should be respected as political and constitutional right anyway. But as Abayomi later pointed out in his reply to Asiwaju’s letter, such support should not be to the detriment of the fundamentals of democracy which should see to it that no any individual gets an undue advantage in the nomination process. Although the APC national leadership had since stepped into the matter with a view to resolving it, the situation remains dicey. Again while it is believed that anyone who picks the APC ticket will likely win the November election on account of the

wobbling state of the ruling PDP and its perceived failure in governance in the last eight years in the state, not a few are disturbed that any act of imposition could scuttle such lofty aspiration on the part of the APC. Thus many argue that any move to impose Abraham could only replicate the Femi Agbalajobi/Dapo Sarumi saga in Lagos State in 1991, a bitter rivalry between two SDP aspirants which only benefited the candidate of the NRC in the person of the former Lagos State Governor, the late Sir Michael Otedola. To this extent, close watchers of the evolving political scheming are wont to appeal to the leadership of the party to prevail on all contending elements to allow the basic creed of democracy to flourish during the primary by allowing a free and fair APC primary election in Ondo State. Of course the precedents are there in the party, not only in the presidential primary that produced President Muhammadu Buhari but also in other instances like the recent APC governorship primary in Edo State. So let the people decide their candidate to avoid a turbulent outing with divisive impact and consequence particularly on the outcome of the election proper in November, a cruel irony that could retain the PDP in power in the state if the process is not properly managed. Yes, it must be well stated that Ondo State is not like other states that can easily be swayed in political manoeuvring and get the people placated or subdued. They are too principled to compromise on issues of ethics, justice and fairplay.

Yet, in another twist to the matter, a group of some discerning leaders of thought in the state cutting across the three senatorial district are now rooting for the candidature of Chief Rotimi Akeredolu (SAN) in what they said at the weekend as the only “wise and decent thing to do”. They were said to have risen from a meeting in Akure to also situate their contention on the need for “justice, equality and fairplay”. In a communiqué issued, they sided with the idea of Ondo North producing the candidate as a matter of historical and political expediency. They went down memory lane to infer that Ondo North was the right choice because in the historical sequence of zoning the governorship position in the state, the former governor, Dr. Olusegun Agagu was from the South Senatorial District while the incumbent Dr. Olusegun Mimiko is from the Central Senatorial District and therefore it will not be right to zone the ticket to either of the two zones. Hence the logical choice of the North this time. Again, they contended specifically why the ticket should go to Owo now since the immediate past deputy governor to the incumbent Mimiko, Chief Ali Olanusi, is from Akoko while the deputy speaker and the senator representing the North Senatorial District are all from Akoko where Abraham hails from. Also they asserted the need to maintain the status quo on the recognised age-long tradition between the two tribes that constitute the zone, that is, the Owo/Ose and the Akoko which respects rotation and mutual consent. Olagbuji is of the Ondo Concerned Professionals

T H I S D AY • WEDNESDAY, AUGUST 24, 2016

EDITORIAL THE RETURN OF POLIO

All the stakeholders must do more to contain the crippling disease

ast week the dreaded polio virus made a return to the limelight in Nigeria. The wild polio virus type one (WPV1) was detected in two local government areas of Borno State. According to the Federal Ministry of Health, the virus was detected in Gwoza local council in a child with acute flaccid paralysis (AFP) – onset of paralysis, on July 13. The case in Jere council area was from a close healthy contact of a child who had developed AFP symptoms on July 6. Whichever way one looks at it, this is a major blow to the country’s efforts, having stopped the transmission of the virus and had been taken off the list of endemic countries last year. These new cases were the first WPV1 detected in Nigeria since July 2014. Indeed, only last month, the country had a ‘muted’ celebration to mark two years without polio cases, only to be faced with the two new cases. But while this can be considered a major setback, it calls for a more determined GOVERNMENT SHOULD effort to battle the TAKE CONCRETE STEPS crippling disease. TO OVERHAUL THE Polio is an COUNTRY’S CRIMINAL infectious disease JUSTICE AND PRISON caused by a virus SYSTEM which invades the nervous system and often causes irreversible paralysis. It can strike at any age but mainly affects children under five. There is no cure for polio as it can only be prevented through vaccination, and as long as a single child remains infected with polio, unvaccinated children all over the world are at risk. It would be recalled that as recently as 2012,

T H I S DAY

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

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

EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOlA BEllO, KAYODE KOMOlAfE, ISRAEl IWEGBU, EMMANUEl EfENI, IJEOMA NWOGWUGWU GROUP FINANCE DIRECTOR OlUfEMI ABOROWA DIVISIONAL DIRECTORS pETER IWEGBU, fIDElIS ElEMA, MBAYIlAN ANDOAKA, ANThONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEh ASSOCIATE DIRECTORS hENRY NWAChOKOR, SAhEED ADEYEMO CONTROLLERS ABIMBOlA TAIWO, UChENNA DIBIAGWU, NDUKA MOSERI GENERAL MANAGER pATRICK EIMIUhI GROUP HEAD fEMI TOlUfAShE ART DIRECTOR OChI OGBUAKU II DIRECTOR, PRINTING PRODUCTION ChUKS ONWUDINJO

Nigeria had accounted for more than half of all global polio cases. But the country made significant progress, thanks to the concerted efforts from all levels of government, civil society, religious and traditional leaders as well as tens of thousands of dedicated health workers to contain the disease. There was also strong community involvement, especially from the volunteer community mobilisers, volunteer ward supervisors and more. The emergency operations centre, established at the national and state levels, formed the strategic block for strong response to outbreaks. Yet despite these efforts, we still have the current setback. That is why the relevant authorities must now redouble their efforts to ensure that polio is kicked out once and for all. The resurgence of the virus is an indication that the battle is far from being won and that there are challenges ahead in the fight against the dreaded disease. Even when we must commend the present government for building on past efforts by re-energising the process, there is a need to do more. All officials must roll up their sleeves to tackle the polio challenge. State governors in the high risk states need to take the lead with their local government officials in every community, especially in Borno and adjourning states in Northern Nigeria. Since the threat of polio in any state is a threat to all Nigerian children, routine immunisation must be intensified considering that the detected cases were reportedly from a stock that had been circulating in the country since 2011. Health officials in all parts of Nigeria, whether north or south, need to do more to improve the coverage of childhood immunisation and other child survival issues that plague the Nigerian child. As we have argued consistently on this page, the key to ridding the country of the devastating disease is a return to the routine immunisation regime.

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

Letters to the Editor

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.

CURTAILING EXCESSES OF PRIVATE UNIVERSITIES AN APPEAL TO INEC

Before 1990, not many qualified candidates were interested in securing admission into private universities as a larger percentage of them preferred either federal or state universities. By then, there were fewer private universities and most people believed that they were only for the super rich. Their number was so insignificant, probably two or three in the entire country. Then, the Nigerian Universities Commission (NUC) was in firm control of both the federal and the state universities in terms of their operations and other related matters. Today, the reverse is sadly the case. It all started in 1997 when the federal government saw the need to licence more private universities in order to cope with the increasing number of people seeking admission. Thus, began the genesis of the proliferation of private universities. Though there is a law establishing these private universities, it seems it is only the standard of these universities that are of concern to NUC, not actually the way they operate. Today, many private universities have turned themselves into money gulping machines. The way they go about increasing school fees arbitrarily is such that many parents have been forced to withdraw their children from some of these universities. Why did these parents take their children there in the first place? The point is that many parents were fed up

by the limited opportunities for admission which the federal and state universities offer. Most of them would rather starve for their children to be educated and since the private universities could make this possible, so be it. So, when these universities came on board, many parents took the opportunity. But it is quite unfortunate that most of these private universities have suddenly priced themselves out of many Nigerians. At this juncture, I would want to be quite specific. Babcock University at Ilisan Remo, Ogun State, for instance, increased its fees by 80% in the 2015/2016 session without recourse to the economic situation in the country. As if this was not enough, the institution flagrantly included mandatory payment for iPad tablet in its school fees, irrespective of whether the students have personal tablets already or not. Sadly, when the students resumed for the session, after four or five months, the university provided them with sets of iPad that never worked. Aside this, the phony tablets were actually given to a mere 10% of the total number of students that made payment. Now, when the students discovered that the tablets were malfunctioning, they returned them to the university authority which promised to fix them and give back to them, but up till this moment nothing has been done. In order to address the situation, parents held

series of meetings with the university authority on the issue as well as on the exorbitant school fees, but the outcome of all these meetings was fruitless. The university went ahead to implement the increment which made some of the parents who are mostly civil servants states to withdraw their children, some of them in 300 and 400 levels. The question is: how would such children feel about the country and even their parents? Could they ever become patriotic citizens? I am quite sure that some of them will never forgive their parents while they might equally become frustrated in life. It is the entire society that will bear the brunt. Also in an audacious manner, indicative of an organisation that cares less about its public image, the university has included another sum of N40,000 in its 2016/2017 school fees for the maintenance of same iPad that has never been given out to the students. In addition to this, they have included a course on e-learning (since 2015/16) at a cost of N15,000 which no lecturer has ever come to teach till date. This is not a case of one speaking about what he knows nothing about. As a matter of fact, I have a child in the university right now who has just printed out the list of the school fees from the school website. Why the institution has decided to toe this path is still not clear to me. Adebowale Michael, Alausa, Lagos

Irrespective of the rumour being peddled around by some disgruntled persons that the Independent National Electoral Commission (INEC) is registering members for a particular political party as ad-hoc staff, I would want to use this medium to appeal to INEC to work hard so that the forthcoming election in Edo State, September 10, 2016 is conducted on a level playing ground. And to all Edolites, I appeal to us all to seize this opportunity to cast our votes for that individual whom we believe can take Edo State to the next level in all sectors. Let’s shun all forms of violence. Let’s all go to the designated polling centres and cast our votes for the peace and betterment of our great state. Remember, your vote determines the future of Edo State for the next four years. Ovie Assurance, ANEEJ, Benincity

WEDNESDAY AUGUST 24, 2016 T H I S D AY

Head Office: Lagos Office: 417, Tigris Crescent, 67, Marina Street Off Aguiyi Ironsi, Maitama, Lagos Island Abuja, FCT, Nigeria Lagos, Nigeria. (Beside Corporate Affairs Commission) Tel: 01-2773100-299 Tel: 09-8761892-3, 09-8122820, 8122822, 8122824

INVITATION FOR EXPRESSION OF INTEREST (“EOI”) FOR OPERATION OF DRILLING RIGS 1.0 INTRODUCTION 1.1

1.2 1.3 1.4

The Asset Management Corporation of Nigeria (“AMCON”), in fulfillment of its statutory mission, through the acquisition of Eligible Bank Assets (“EBA”) appointed Mr. Michael Igbokwe (SAN) as the Receiver Manager of one of such EBAs. The Receiver Manager is currently in possession of 3 (Three) Mobile Offshore Drilling Rigs (the “Rigs”) by virtue of this Appointment. A key strategy for achieving the statutory objectives of AMCON is the identification of existing positions in EBAs with potential for successful turnaround and exit. In addition, AMCON seeks to be a revitalizing tool in the Nigerian economy and where possible, maintain and increase employment opportunities for Nigerians, and encourage Nigerian participation in strategic industries. Pursuant to the above, the Receiver Manager and AMCON’s objective regarding the Rigs, is to work with oilfield services providers/rig operators, to put the Rigs back into operation, and over time create high-performance rigs businesses achieving strong operating results.

2.0 EXPRESSION OF INTEREST 2.1 2.2

2.3 2.4

The Receiver/Manager hereby invites interested parties to submit the Expression of their Interests in pre-qualifying to operate the Rigs through commercial arrangements to be entered into with the Receiver Manager. Pre-qualified parties will receive a Request for Proposal and Information Pack, which will contain full technical details, and current status reports regarding the rigs; details of the various alternative commercial arrangements, which the Receiver Manager and AMCON are prepared to consider in the Transaction Agreements and any other relevant information. The commercial arrangements will include an option to purchase the rig(s) during the life of the Agreements. The Request for Proposal will also contain the detailed transaction timetable. The Receiver Manager and AMCON will consider Proposals regarding 1 (One) or more of the Rigs.

5.0 SUBMISSION OF EXPRESSIONS OF INTEREST 5.1 5.2 5.3 5.4 5.6 5.7

6.0 NOTES: 6.1

The Receiver Manager through AMCON is in the process of arranging funding for refurbishment and bringing the rigs to class and ready-to-operate standard. If a Company/ Consortium is willing and able to provide or arrange funding for same, this will be advantageous at the detailed Proposal stage. However, this is not a requirement for the Expression of Interest. 6.2 At the RFP stage, Companies in categories 3.1 and 3.3, will be required to provide a list of key Technical staff that would be involved in the operation and maintenance of the rigs, along with CVs and relevant professional qualifications and certifications.

7.0 METHOD OF SUBMISSION OF EXPRESSIONS OF INTEREST 7.1

3.0 EOI ARE INVITED FROM THE FOLLOWING ENTITIES: 3.1 3.2 3.3 3.4 3.5

3.6

Nigerian Companies engaged in Oilfield Services activities, with a track record of operating oil rigs. Nigerian Companies and/or Investors interested in investing in the Oilfield Services industry. International Companies engaged in Oilfield Services activities with a track record of operating oil rigs. International Companies and/or Investors interested in investing in the Oilfield Services industry in West Africa. Parties may form a Consortium made up of entities in one or more of the above categories, provided that at least One (1) Nigerian Company and 1 (One) Operator are members of the Consortium. If the Nigerian Company is an Operator as defined in 3.1, then that Company’s inclusion shall satisfy the requirement of this Clause 3.5. In the case of a Consortium, the Parties must provide a letter specifying the membership of the Consortium, and defining the role(s) of each of the Consortium members, including which Party will be authorised to submit the EOI.

4.0 DETAILS OF THE RIG 4.1

For the purpose of this Transaction, there are 3 (Three) mobile offshore drilling rigs available: 4.1.1 The 1st rig is a Friede & Goldman self-elevating offshore drilling unit (MODU), specifically a cantilever Jack-up rig. The rig was manufactured by U.S. Co. Inc. The drilling unit was built in Sharjah, UAE and completed on 31 January 2008. The rig was designed to operate in 300ft water depth to a rated drilling depth of 30,000 feet. The cantilever provides a drilling envelope of 50ft extended and 15ft on either side of the center line. This enables the rig to access multiple wells on a platform without moving. 4.1.2 The 2nd rig is also a Friede and Goldman self- elevating cantilever Jack up rig built in Sharjah, UAE. The rig was designed by Bake Marine Services and is of the type BMC-H. The rig construction was completed in 2009. The rig was designed to operate in 300ft water depth to a rated drilling depth of 30,000 feet. 4.1.3 The 3rd rig was constructed and built by Gotaverken Arendal AB, Gothenburg Sweden and designed by Friede and Goldman. The rugged design L-780 A class permits operating in 300ft of water depth to a rated drilling depth of 20,000 ft. The cantilever provides a drilling envelope of 40ft extended and 10ft either side of the center line, thus enabling the Rig to access multiple wells on a platform without having to move. The rig was first put in operation in 2010. Two of the Rigs are currently Warm Stacked, while the third Rig is Cold Stacked.

Interested Parties are required to submit the following information (in the case of a Consortium, please provide the relevant information for each Consortium member). Name and detailed profile of Company. Country of Incorporation and Country of Domicile/HQ. Evidence of Incorporation and/or registration (as applicable). For Companies in categories 3.1 and 3.3 (i.e. Operators), demonstrable track record of operating drilling rigs, including where applicable, rigs of this nature. Evidence of any other relevant experience and/or capabilities that demonstrate the Company/Consortium’s ability to work with the Receiver Manager and AMCON to successfully achieve its objective of putting the oil rigs back into operation. Name of principal authorized Contact for the Company/Consortium, along with the Contact’s email address and phone number.

Expressions of Interest should be submitted in a sealed envelope with 1 (One) original and 5 (Five) copies, along with a 1 (One) soft copy contained in a USB storage device, with the envelope clearly marked: “EXPRESSION OF INTEREST FOR OPERATION OF DRILLING RIGS” and delivered to the Receiver Manager at the address stated below, not later than 4pm Nigerian time on 19th September 2016. The Receiver Manager, C/O Asset Management Corporation of Nigeria 67, Marina Street, Lagos Island, Lagos, Nigeria

8.0 POST-SUBMISSION PROCESS 8.1

Upon receipt and evaluation of the Expressions of Interest, Parties who in the Receiver Manager ’s view are qualified, will be contacted and provided with the Request for Proposal and Information Pack to enable them participate in the Transaction Process. 8.2 The Receiver Manager and AMCON, in their sole discretion, may invite Parties who submit Expressions of Interest, to meet at the Receiver Manager’s and or AMCON’s offices for further clarifications or expansion on the information provided in their EOIs. 8.3 Pre-qualified Parties will be contacted not later than 26 September 2016.

9.0 OTHER INFORMATION

9.1 Late submissions shall be rejected. 9.2 Only Companies/Consortia which submit the required information and meet the prequalification criteria will be contacted to participate in the RFP and Transaction Process. 9.3 Requests for further clarification or enquiries prior to the close of Submissions should be made by email to mike@mikeigbokwe.com or Sulaiman.Abdulmajeed@amcon.ng 9.4 All Information must be provided in English. 9.5 This invitation for Expressions of Interest does not create and is not intended to create any contractual relationship or legal obligation of any kind. It is a pre-qualification exercise only, and is not an offer by the Receiver Manager and AMCON to any interested parties to concession, sell, lease, hire or otherwise dispose of any assets or make the assets available for use, enjoyment or otherwise. Nothing in this invitation for Expressions of Interest shall be construed to prevent the Receiver Manager and AMCON from any ongoing discussions regarding the Rigs with third parties. Parties who submit Expressions of Interest shall bear all costs incurred in connection with the preparation and submission to the Receiver Manager. The Receiver Manager and AMCON shall not be liable or responsible in any manner whatsoever for such costs or any other costs or other expenses incurred by parties in connection with submitting an Expression of Interest, regardless of the outcome of any selection process that may occur pursuant to this invitation for Expressions of Interest, or any other discussions or process regarding the Rigs. SIGNED

MANAGEMENT

T H I S D AY WEDNESDAY AUGUST 24, 2016

Ibrahim Leadership Fellowships Programme Identifying and supporting African leaders of the future.

Invitation for Applications The Fellowships offer the opportunity to work in the executive offices of either the African Development Bank (Abidjan), the UN Economic Commission for Africa (Addis Ababa) or the International Trade Centre (Geneva) with an annual stipend of $100,000. The three organisations will each host an Ibrahim Leadership Fellow for a 12-month period supporting senior management.The Fellowships are open to young professionals, mid-career and new executives up to the age of 40 or 45 for women with children. The Fellows will be nationals of an African country with 7-10 years of relevant work experience and a Masterâ&#x20AC;&#x2122;s Degree.

The application process opens on 12 August 2016 and closes on 14 October 2016 For more information about the Fellowship programme, eligibility and application process please visit: mo.ibrahim.foundation/fellowships

AFDB

ITC

UNECA

T H I S D AY • WEDNESDAY, AUGUST 24, 2016

MIDWEEKPOLITICS

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

THE NEWSMAKER

Diary of a Lagos Governor With his peculiar style of giving attention to little details, the Lagos State Governor, Akinwunmi Ambode is gradually writing his name in some pretty good ink. But there’s still much to be done to catapult Lagos to a world class megacity. Olawale Olaleye writes

Ambode...getting down to brass tacks

t was a disturbing start more or less. And this, many reckoned. Not a few also expressed concerns should this turn out an error of choice. Indeed, the concerns, if not misgivings, which at some point attracted a fraction of global attention might have been genuinely located at the time. Governor Akinwunmi Ambode of Lagos State was assumed to have inherited a luxury government and taking off or hitting the ground running should not have come up in any form of debate. Yet, he struggled with a rather tottering start. It soon turned out that it’s been all about style and personal approach to governance. It was just a matter of time before the governor started to get his bearing right – fixing those small things that are today the face of the big deals because of the direct impact they have on the larger population – the real people or voters if you choose. To say he has been methodical and painstaking in his choices for the state is to allude to what everyone now sees and can relate to. “I know him. He will perform. We didn’t just sell him to the people of Lagos; we knew the product we sold. He is very methodical and given to details. You may have your misgivings, which I do not want to contest with you but this is not politics or playing to the gallery, Ambode will perform because I have worked with him. I hope you will one day see the good in him and point them out the way you are pointing out what you assume are his failings now. “Of what joy or benefit will it be to anyone if he fails? Lagos must not and cannot afford to fail and Ambode will not fail Lagos. Just give him time. He is a professional, who is going into office with a clear head –focused – and would do justice to the progress of Lagos. I

can vouch for him,” said a former governor of the state and Minister of Power, Works and

Evidently and in no distant time, the people of Lagos and indeed, Nigerians will begin to tell the narratives of the Ambode administration, albeit from their different perspectives, depending on how good it affects them. What is most certain is that if Lagos did not baje (decline or rot) during Fashola’s reign as the signature of his government was, then, the itesiwaju (progress) of the state appears even more secure and reassuring with a seemingly worthy successor

Housing, Mr. Babatunde Fashola, in a private conversation. If you thought the position above was profound, hear Fashola again: “You don’t have to make yourself an enemy of the state or constitute yourself as an opposition to the government of the day. Criticism is good but must be thoughtful and constructive because that is the only way it could make sense and also help the person you are criticising to get your point and perhaps, make amends. “His failure would mean we have all failed including you and I. While we all could put him on his toes as a reminder that failure is not an option, we should also point out those areas he is doing well as a form of reward for more good. Ambode will not fail, quote me because I have worked with him and I know him,” Fashola added with the willingness to hedge a good bet. True to these words of his predecessor, Ambode has since picked up from the rubbles and consequently setting the state on intense fire of development path. He has also since finding his feet, been rewriting the story of Lagos to the awe of the rest of the country and the world. Although it might appear too early for some to be praise-singing the governor, the truth is that with his sustainable people-centered programmes and policies, Ambode might end up trumping the first-rate record of his outstanding predecessor, which of course, are Fashola’s prayers and the expectations of all. And probably too, Ambode sees Itesiwaju ipinle Eko l’oje wa l’ogun (the progress of Lagos State is paramount to us) as he is wont to say beyond mere campaign slogan or as just the moniker of his own administration. The last two weeks have witnessed impressive efforts to consciously put the state on a path of

steady progress, growth and development. The governor, with some of his team members were recently at the Lagos State University Teaching Hospital (LASUTH), Ikeja to commission the first state-owned Helipad for medical emergencies in Nigeria, an initiative conceived to improve the healthcare delivery system in the state. Further to this, the governor also inspected some of the ongoing projects at LASUTH, where he announced the upgrading of the 247-bed and five theatre suits for pregnant women, popularly called Ayinke House, promising that it would be ready for use by 2017. For the record, Ambode is said to be notorious for deadlines, claimed a former senator, who is very close to him. This, he added, comes also with great speed of delivery as being witnessed today. According to the senator source, he does not joke with deadlines even if you were his biological child, adding also that he does nothing without a timeline and which no interference can change. That, for a lot of people, speaks to effective leadership, no doubt. As a part of efforts to transform the health sector, he announced that the Bola Tinubu Health and Diagnostic Centre would become operational soon, while at the same time gave approval for the rehabilitation, upgrade and bulk purchase of medical equipment required in 20 Secondary and 21 primary health facilities across the state. Ambode, who justified the helipad initiative, claimed that, “This is a life-saving asset and critical complement to the efficient functioning of this Unit (LASUTH) and other emergency services being rendered by the state. The helipad will also aid the movement of patients from remote Continued on next page

T H I S D AY • WEDNESDAY, AUGUST 24, 2016

EVENTS&REPORTS

MIDWEEKPOLITICS DIARY OF A LAGOS GOVERNOR

Beyond the deceptive road constructions and sometimes useless monuments often associated with the character of every government, these small things directly affect the people. How Ambode came about the idea of giving serious attention to those small things that matter is particularly commendable. This is because not only have they sculpted a niche for him and his government, they are also telling the success story of his style

areas, where healthcare facilities to provide the level of emergency medicare required are not readily available. “Over the years, we have witnessed emergency situations, which required timely movement of victims to appropriate medical facilities. Keeping in mind that every minute matters in securing the lives of people involved in these incidents, the usual movement by road is not the best option in such situations. Helicopters have, therefore, become an efficient and reliable option, which can only be made possible with the availability of helipads within the hospital environment. “Given the status of LASUTH, as the state’s flagship tertiary health institution, offering referral services for other public and private medical institutions, it was obvious the helipad had to be located here,” he said. He recalled that about a month ago, a 27-bed Critical Care Unit was commissioned at LASUTH to provide life and organ support system for the critically ill patients, who require intensive monitoring and post-operative treatment, adding that the Helipad would go a long way to facilitate medical evacuation and air ambulance transfer of patients to Trauma Centers. The provision of these facilities, he posited, was consistent with the commitment of his administration to raise the service delivery capacity of LASUTH and other health facilities in the state to international standards. Aside the fact that government is inclined to intensifying efforts in acquiring an Air Ambulance to complete the cycle of emergency medical services, he hinted that the Helipad would be operated by specially trained personnel, who would render 24-hour service, guarantee expert medical care during emergency transfer and safe-landing at all times. And with the recent signing of a Memorandum of Understanding (MoU) with select investors, Ambode said the state was on the verge of becoming a hub for medical tourism once the Medical Park at the old School of Nursing, Ikoyi comes on stream. “With the support of our hardworking and dedicated personnel in the health sector, we are confident that we will achieve our set objectives in the health sector, save lives and guarantee a healthy state,” he promised. Days after the commissioning at LASUTH, Ambode also signed two critical laws aimed at eradicating the menace of land-grabbing as well as improving the security situation in all the communities in the state. The two laws are Lagos State Properties Protection Law and Lagos State Neighbourhood Safety Corps Law. To demonstrate the seriousness attached to law and order, he has also read Riot Act to those concerned and affected. Just about the same time, Ambode received members of the Indices and Disbursement Committee of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), who came to announce that the federal government had approved four oil wells for Lagos, and planned the commencement of the disbursement of the

The helicopter in a close shot

13 per cent Derivation to the state in line with constitutional provisions. Ambode said it was significant for Nigeria’s economy that Lagos had emerged as the first oil producing state outside the Niger Delta basin. “We are very glad to receive this delegation. We also want to thank the federal government, most especially President Muhammadu Buhari for making this happen very promptly. I want to say that this has been the quickest action that has been taken by RMAFC since I have known the Commission. “I used to be a former Accountant General, so I had a lot of transactions and relationship with the institution called RMAFC. Within a span of about 60 days of when we wrote our letter, and even before we wrote the letter, this technical committee was set up. It gladdens me to say that the institution worked and is working for the good of Nigeria,” the governor said. While noting that this very development might have kick-started the path to diversification of oil production in Nigeria, the governor urged other states of the federation to begin to activate the mineral deposits in their domain as a means to boosting their Internally Generated Revenue (IGR). Two days after this, Ambode also announced plans to activate multi-faceted projects designed to improve the living standards in the state. These include the commencement of the construction of a fly-over bridge in the popular Pen Cinema junction of the state. This would be the third the Akinwunmi Ambode-led administration is constructing after those of Abule-Egba and Ajah Roundabout. A pedestrian bridge is already erected at the busy Berger bus stop along the Lagos-Ibadan expressway to ease human and vehicular movement. The aesthetics of this edifice has continued to awe the end users. At a recent joint ministerial briefing at the Bagauda Kaltho Press Centre, Alausa, the government announced its readiness to commence the deployment of 13,000 Closed Circuit Television (CCTV) Cameras, additional 6,000 street lights and security sensors for surveillance and crime prevention across the state from October, 2016. Here, the Commissioner for Information and Strategy, Mr. Steve Ayorinde, said government was set to decongest traffic along the Lekki-Epe axis through the removal of three roundabouts namely the 4th (Elegushi), 5th (Jakande) and the 8th (VGC). He said the affected roundabouts would be replaced by traffic lights, expansion of the roads and the provision of dedicated turning lanes as well as additional lay-bys. According to the commissioner, government has also commenced the implementation of the

Lagos Enterprise GIS upgrade and the Integrated Land Administration Automation System, which when implemented, would ensure proper monitoring of her infrastructure for optimum benefit, fast-track the ease of doing business in the state and improve government-citizen relationship. Commissioner for Works and Infrastructure, Ganiyu Johnson, who explained the scope of the Pen Cinema fly-over, said the construction would be completed within 18 to 24 months and that the project would commence after the conclusion of the preliminary works. He noted that the fly-over would be constructed from Oba Ogunji via Ijaiye Road into Agunbiade, adding that it would be 700meters long with some junction improvement at Pen Cinema. “We will expand Oba Ogunji Road and create barriers. The project will also accommodate a generous walkway similar to the Ikorodu Expressway and the bridge would have a free flow all the way to Agunbiade,” Johnson explained. Special Adviser to the Governor on Transport, Olanrewaju Elegushi, on his part, espoused that the removal of the roundabouts on Lekki-Epe Expressway was part of the junction works and traffic system management designed by the present administration to enhance free flow of traffic, recalling that when the road was constructed, it could accommodate about 30,000 vehicles per day, but that the vehicular movement had increased over time to over 50,000 daily. He said the project would be completed in six months, adding that additional lay-bys and other sleep roads had been designed with the project. On the Smart City Project and the Integrated Land Administration Automation project, Commissioner for Science and Technology, Mr. Olufemi Odubiyi, said among many other benefits, that the EGIS project would help promote and encourage a secondary mortgage market and facilitate investment in properties. He added that the project would witness the installation of information highway-metro fibre and deployment of 4GLT across the State, adding that part of what government was trying to achieve was the full implementation of e-services like e-health and e-agric, among others. Complementing these are the intra-city road renovations that are fast changing the face of the road network in the state. To assume that the state has embraced the culture of steady road maintenance and on time is evident as practically every part of the state is presently experiencing this timely initiative intervention. Besides, the security of the state has also

improved from what it used to be when Ambode newly took over the reins of power. Although the security architecture of the state is presently reactive, it is hope that the governor would ginger some proactive policing of a state like Lagos through thorough intelligence gathering, so that there would be more instances of police bursting crimes or and preventing them from happening at all as against the prevailing trend of running around to apprehend criminals after the harm had been done. The helicopter emergency service is another development initiative that depicts vision and good thinking. Even though such a service is not expected to come cheap because of the cost implications, it is hoped that it would not be available only to the rich or the elite in the society if it must address the impression that is presently being created, especially when the primary motive is to save lives. It is also worthy of mention too, the fourth mainland bridge that is already in the works. This humongous development idea (although has been in the works for a long time) is designed to contain the huge traffic challenges as related to the mega status of the state and at the same time, the remodeling as well as relocation of the occupants of the popular Alade market to a more serene, safe and decent environment is worth pointing out. Has anyone noticed the metal-wire fencing of major roads across the state to prevent unintended hazards? It is part of the small things. In addition to this, the state government has also taken a notch up, the greenery culture of the state, using in some cases, same metal-wire fencing to protect the beautification tradition of the state, popularised by the Fashola administration. Some of the major motor parks have also been remodeled as part of the expansion initiatives required to help brace up the transportation challenges a state like Lagos confronts. Even the BRT lanes have been receiving good attention for what is called concrete renovation for their durability and capacity to absorb pressure from regular uses. There is no doubting the fact that things are increasingly getting better in Lagos State and interestingly, they are the big deals that come in small but significant packages. Tomorrow, Ambode will launch what has been described as the largest mall in Africa, called Novare Lekki Mall. With 22,000 square meters of gross lettable area, it is presently the largest mall in Africa’s most populous city. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

WEDNESDAY, AUGUST 24, 2016, • T H I S D AY

FEATURES

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

Victims of Herdsmen Attack in Adamawa Get Help The recent attack by Fulani herdsmen on a community in Adamawa State left 20 dead and many others injured. Daji Sani writes on the rapid response from individuals and the federal government to ameliorate their plight

et me start by appreciating you for showing concern and donating relief materials to ameliorate our suffering occasioned by the Fulani herdsmen attack, the same people that we have been living peacefully with for decades." Those were the words of Elder Pius Remount of Kodomun Village in Demsa Local Government Area of Adamawa State, another area recently attacked by Fulani herdsmen which resulted in the killing of 20 persons with many others reportedly injured and the village completely razed to ground zero. Remount who couldn’t hide his joy, was appreciating a high-powered federal government delegation from the office of the Secretary to the Government of the Federation (SGF), Chief Babachir David Lawal, led by the Senator representing Adamawa South senatorial district, Senator Ahmed Abubakar Moallahyidi who was accompanied by the Senior Special Assistant to President Muhammadu Buhari on Policy, Development and Analysis, Alhaji Ibrahim Bapetel and many other dignitaries, who visited the victims of the attack at Demsa Primary School, where they are currently taking refuge. Remount also appreciated the prompt and timely response by the federal government to come to their aid at the time they were in dire need of help and encouragement, following their ordeal with the Fulani herdsmen that led to their fleeing their native home to take refuge in Demsa Town. He particularly thanked Senator Moallahyidi for the passion he has shown since they were attacked by herdsmen. "I wish to thank our senator for his second visit, since the incident happened he has been up and doing. This has proven that he is a leader that listens to the plight of the members of his constituency. Therefore, we are grateful that you have taken your time to come and sympathise with us," he said. Some members of Adamawa South senatorial district who spoke to THISDAY in Numan, Ganye, Jada, Demsa and Mayo-Belwa Local Goverment Areas, have also lauded Moallahyidi's constituency projects which they said have impacted positively on the youths and women in his constituency. According to them, he does not discriminate whether you are a Christian or a Muslim or you belong to different tribe from his, describing him as a true democrat who is always on time when anything happened in

The victims of Fulani herdsmen attack taking refuge at Demsa Primary School

Displaced women

The leader of federal government’s delegation, Senator Moallahyidi during his visit appealed for peace in the troubled areas. He also called for a peaceful dialogue between the farmers and the Fulani Herdsmen

his constituency. “He is a silent achiever," they noted. But Remount lamented that it was not easy for them because they lost many of their relatives and their houses completely burnt down by the herdsmen with many injured and hospitalised at the Specialist Hospital in Yola, the state capital. He lambasted the traditional ruler and DPO of Demsa for not taking prompt action to avert the situation even though they were duly communicated on good time and also accused the security of gross negligence. "If the police have acted promptly they would

have averted the situation," he said. He has also appealed to the federal government delegation to advise the leaders in the state to take prompt action when they get privilege information that some group are planning to launch an attack. Some of the children and women, according to Remount, sustained various degree of injuries noting that many children were forced out of school because of the incident. He said if the crisis was not resolved before schools resume, it means their children will continue to stay out of schools until normalcy returns. He added that they want the security authorities to secure their native home so

that they could return even as he raised the alarm that they learnt from reputable source that the Fulani herdsmen were in possession of sophisticated weapons and have vowed never to allow them return to their homes again. Adamawa State Governor, Alhaji Bindo Umaru Jibrilla, has been called upon to set a panel of enquiry to look into the remote causes of the killings in Gerei and Demsa Local Government Areas by suspected herdsmen. The Bwatiye Association Worldwide, an umbral body of the Bwatiye people in Adamawa made the call during a press briefing in Yola. The President of the group, Mr. Hezron

WEDNESDAY, AUGUST 24, 2016, • T H I S D AY

FEATURES

Fada, said the attack on the Bwatiye tribe by the Fulani headsmen was a calculated plan for ethnic cleansing. According to him, "this is an orchestrated plan to destroy some ethnic groups in the country." Fada noted that the "activities of the Fulani herdsmen have become a nationwide phenomenon and the government is paying a lip service to it." However, President Muhammadu Buhari had vowed that his administration will no longer tolerate acts of banditry and criminality from the herdsmen. The President stated this in his address at the graduation ceremony of Course 24 of the National Defence College, Abuja.Buhari informed his audience that security agencies in the country had been mandated to adequately deal with such act as it was capable of truncating the peace in the country. Clashes between herdsmen and farmers have resulted in many casualties across the country for over one year and many have been displaced from their communities forcing them to take refuge elsewhere. While Children are mostly forced out of schools which experts said it might blight their future. The President further said steps were being taken to rebuild the terror-ravaged North-east. He said: “Let me state that this administration has been working assiduously in conjunction with our local and international partners, to rebuild damaged communities in North Eastern part of our country.” Meanwhile, security experts in the state opined that the only way out of the crisis between farmers and herdsmen was dialogue and demarcating a grazing places for the herdsmen with a strong warning against encroachment into farmlands. They appealed to the two groups to sheathe their swords to allow dialogue and peace to prevail in the area. The experts also called on politicians, traditional and religious leaders and other stakeholders to wade into the crisis so as to put an end to it. The leader of federal government’s delegation, Senator Moallahyidi during his visit appealed for peace in the troubled areas. He also called for a peaceful dialogue between the farmers and the Fulani Herdsmen. He told them that the Secretary to the Government of the Federation (SGF), sympathised with them over the unfortunate incident. The SGF, according to him, described the attack as “barbaric and inhuman and that all Nigerians needed to condemn the attack in strong terms.” He appealed to Nigerians to learn how to coexist despite their differences and background. After visiting the victims of the attack, the delegation also visited the palace of the paramount ruler of Batta, Hamman Batta, Chief Alhamdu Teneke and appealed to him to use his wisdom and connections to put an end to the crisis. The delegation also expressed confidence in the ability of the paramount ruler to bring the crisis to an end following his wealth of experience and proven integrity. Also speaking, the Senior Special Adviser to President Buhari on Policy, Analysis and

After visiting the victims of the attack, the delegation also visited the palace of the paramount ruler of Batta, Hamman Batta, Chief Alhamdu Teneke and appealed to him to use his wisdom and connections to put an end to the crisis. The delegation also expressed confidence in the ability of the paramount ruler to bring the crisis to an end following his wealth of experience and proven integrity

L-R: Senator Moallahdiyi, Bapetel and other members of the FG delegation, at the palace of paramount ruler of Batta, Hamman Batta, Chief Teneke

Elder Remount, spokesman for farmers in Kudomun Village

Senator Moallahyidi (middle), inspecting the relief materials donated to victims of Fulani herdsmen attack

Development, Bepetel, said the federal government was determined to find lasting solution to the lingering crises between the herdsmen and famers in the area. In his response the paramount ruler of Batta, Hamman Batta, Chief Teneke who expressed

gratitude to the delegation lamented that since inception of the local government area such a callous act has never happened in the area. The paramount ruler who promised that a drastic measure would be put in place to address the situation, called for more security

presence in the area to nip the crisis in the bud completely. The paramount ruler assured the delegation that something will be done as he said he has organised a platform for dialogue between the two warring groups so as bring to an end the crisis.

IMAGES

WEDNESDAY, AUGUST 24, 2016, • T H I S D AY

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

L-R: Sales Manager, Systemair, South Africa, Mr Vincent Laidet; Sales Manager, Systemair, Dubai, Mr. Muneesh Vashist; Managing Director, Blue Ocean Group, Mr Anupam Ghosal; Commercial Manager, LG Electronics Nigeria, Mr. Vijay Bakshi; and Regional Marketing Manager, Armacell Group, Mr Gaurav Bhatnagar, during Blue Ocean Speciality Engineering Forum and Expo, in Lagos... recently

General Manager, British Tobacco Nigeria Foundation, Abimbola Okoya (left) and Minister of Environment, Hajia Amina Mohammed at the Launch and Public Presentation of Agricultural Sector Roadmap Policy and Strategy Document in Abuja... recently

L R .Head of Adegoke Adelabu Dynasty, Alh.Lateef Gbadamosi; Chairman, Adegoke Adelabu Foundation, Oloye Lekan Alabi and Secretary of the foundation, Mr.Yinka Adelabu during a Media Chat on Public Presentation of the Taj Mahal of the Hon.Adegoke Adelabu House at Oke Oluokun Ibadan...recently felix ademola

L-R: Public Relations Manager, MultiChoice Nigeria, Efe Obiomah; winner of Cartoon Network Imagination Studio Art Competition (Story Category), 2016, Yobo Christian Onyemaechi, and, Proprietress RosyLand School,Mafoluku, Oshodi, Uche Roseline Alisiobi during the presentation of gifts to Onyemaechi at the School premises in Lagos...recently

L-R: Representatives of Lagos State Commissioner for Science & Technology and Assistant Director, ICT, Lagos State Government, Adeyinka Sorungbe;; Country Manager, OLX, Lola Masha and, CTO, OLX SSA, Stephen Ballot during the inauguration of the OLX office in Ilupeju as part of the Company’s 4th Anniversary in Lagos...recently

L-R; Development Consultant, Trainer and Motivational Speaker, Mr. Charles Agbeze; Managing Director/ CEO, Nigeria Incentive-based Risk-sharing System for Agricultural Lending (NIRSAL), Mr.Abdulhameed Aliyu; Chairman House Committee on Agriculture and Rural Development, Mohammed Monguno and National President, All Farmers Association of Nigeria, Arc. Kabir Ibrahim, during the launch of the first stage of NIRSAL farm to market initiatives in Abuja...recently

L-R: Nollywood Actress, Rita Dominic, ex- President Olusegun Obasanjo and Executive Producer ‘76, Prince Tonye Princewill, during a private screening of the military movie ‘76 held at Olusegun Obasanjo Presidential library in Abeokuta, Ogun State...recently

L-R: Director, Corporate & Government Affairs, Microsoft Nigeria, Rimini Makama; Public Sector Director, Microsoft Nigeria, Hakeem Adeniji - Adele; acting Director-General, NITDA, Vincent Olatunji and Marketing & Operations Director, Microsoft Nigeria, Awawu Olumide-Sojinrin, during the Ag. Director-General’s courtesy visit to Microsoft Nigeria office in Lagos...recently

WEDNESDAY, AUGUST 24, 2016, • T H I S D AY

Group Business Editor Chika Amanze-Nwachuku Email chika.amanzenwachukwu@thisdaylive.com 08057161321, 08033294157

BUSINESSWORLD NIBOR OVERNIGHT 1-MONTH

R A T E S

A S

NIBOR

17.4417% 16.7724%

3-MONTH 6-MONTH

17.6079% 19.8254%

A T

NITTY 1-MONTH 2-MONTH 3-MONTH

A U G U S T 15.7532% 16.0348% 17.1017%

6-MONTH 9-MONTH 12-MONTH

1 9 ,

2 0 1 6

18.1773% 18.9773 22.40%

EXCHANGE RATE N316.55//1US DOLLAR* *AS AT LAST FRIDAY

Quick Takes Ecobank Wins Asian Banker’s Awards

Ecobanksaiditrecentlywonthe‘CustomerRelationshipManagement’ of the Year, ‘Retail Risk Management Initiative’ of the year and ‘Best Business Model Execution in West Africa’ for 2016 at The Asian Banker’s first annual West Africa awards held in Lagos. A statement from the bank further revealed that the ‘Best Retail Banker in Africa’ award went to its Group Executive, Consumer Bank Ecobank, Patrick Akinwuntan. According to the organisers of the awards, Ecobank was awarded for its customer relationship initiative through the commitment to provide convenient, accessible and reliable banking products and services to its customers; use of business intelligence tools and credit bureau information, to provide a secure banking environment to its customers, and its three tier business model that focuses on customer segmentation, coverage, and channels to serve each segment. ForAkinwuntan,theorganisersobservedthatunderhisleadership,the retailbusinesshadwitnessedsubstantialtransformation,innovation and growth in all its segments and dimensions – customers, products and channels, adding that the retail banking which he supervises has turned into a leader in the retail banking space across many of the countries that it operates in.

BOOK LAUNCH

L-R: Ex-Director, UBA Plc, Ms. Angela Aneke; CEO, Transcorp Hotels, Mr. Valentine Ozigbo; Director, Group Business Development, Heirs Holdings Limited, Mr. Adim Jibunoh; and Author of the book: ‘The Alphabet of Leadership. The A-Z of Improving your Leadership Effectiveness,’ Dr. Maxwell Ubah, during the launch of the book in Lagos… recently

Banks’ Impairment Charges Soar on Naira Devaluation Goddy Egene The provisioning for impairment charges by many banks spiked due to the devaluation of the naira as indicated by the financial reports of the banks for the half year ended June 30, 2016. After recording increases in impairment charges for the 2015 full year, some of the banks had adopted risk management strategies that reduced the loan losses provision for the first quarter (Q1) of 2016. For instance, an analysis of Q1 performance of Access Bank Plc and Guaranty Trust Bank (GTBank) Plc had shown

ECONOMY that their impairment charges reduced, indicating improved risk management. GTBank recorded impairment charges of N3.386 billion, down from N3.526 billion while Access Bank Plc’s impairment charges from N3.868 billion to N2.398 billion. That downward trend was expected to be sustained in second quarter of the year and eventually led to lower impairment charges in H1. However, reverse is the case as the naira devaluation has led to increases in impairment charges, according to THISDAY checks. GTBank Plc led the banks with the highest

growth in impairment charges, jumping by 525 per cent to N37.5 billion, from N6.0 billion in the corresponding period of 2015. FCMB Group followed with a 264 per cent jump from N3.74 billion in 2015 to N13.5 billion in 2016. FBN Holdings followed with 209 per cent rise to N69.9 billion, up from N22.6 billion in 2015. FBN Holding had attributed the higher impairment charges to the impact of the devaluation of the naira on the oil and gas, real estate and general sectors. However, the bank said it has continued to revamp its credit and risk management processes towards generating

high quality assets and have begun to see improvements in this process operationally. Zenith Bank recorded impairment charges of N14.2 billion in 2016, showing an increase of 97 per cent from N7.2 billion in 2015. Similarly, Fidelity Bank Plc’s provisioning rose by 51 per cent from N3.1 billion to N4.7 billion, while Diamond Bank Plc booked impairment charges of N18.9 billion in 2016, compared with N13 billion in 2015. Access Bank’s impairment charges rose by 15 per cent from N8.8 billion to N10.2 Continued on page 24

Analysts Fault Proposed 9% Communication Services Tax Obinna Chima The plan by the federal government to introduce a special tax of nine per cent for the use of communication services has been described as a policy that may further erode purchasing power, experts have warned. Analysts at Lagos-based CSL Stockbrokers Limited argued that tax rate hikes or introduction of new taxes at present, would not only be premature, but may have more negative economic implications than positive The Minister of Communications had said the proposed bill is currently before the Senate and House of Representatives and has passed its first reading.

ECONOMY One of the presidency’s core strategies in building 2016 revenues is to increase the country’s tax take. The 2016 Budget is targeted at raising non-oil tax revenues and increasing capital spending. The authorities aim to collect N1.45tn (US$4.2bn) in non-oil revenue (Taxes, Customs & Excise Duties, Federation levies and FGN independent revenue) according to the budget figures, an amount that makes up over a third of budgeted revenue. There have been concerted efforts to increase the country’s tax take. In mid-July, Revenue Mobilisation Allocation and

Fiscal Commission (RMFAC) Chairman Shettima Gana called for Value Added Tax (VAT) to be increased from five per cent to about 7.5 per cent to shore up Nigeria’s revenue base. But analysts at CSL Stockbrokers held the view that while these attempts to increase the tax take seems reasonable given declining oil revenues, made worse by production constraints in the oil-rich Niger Delta, “tax rate hikes or introduction of new taxes at present, would not only be premature, but may have more negative economic implications than positive.” “The steep rise in prices of goods and services nationwide has tightened the squeeze on consumer spend-

ing. As such raising taxes or introducing new taxes in this setting will possibly be at the expense of economic growth as it would further erode purchasing power,” it added. Experts had argued that there was still opportunity to grow non-oil revenues in the country. This, they noted could be achieved by further widening the tax net and improving efficiencies. The federal government recorded a revenue shortfall of N1.064 trillion, or 55.2 per cent of the budgeted revenue in the first six months of the year, the Minister of Budget and National Planning, Senator Udoma Udo Udoma had Continued on page 24

Facebook Celebrates Young Africans

Facebook celebrated the creativity and excellence of young African creativesatTheLoerieawardsfor2016,thepremierannualadvertising awards in the advertising industry in Africa and the Middle East. In addition to sponsoring The Loerie Student awards for 2016, a statement also disclosed that Facebook hosted a range of events aimed at young creatives in support of Loeries Creative Week that took place between 15th and 21st of August in Durban. Facebook announced that it will work with the Loeries and advertising schools across the country to develop and promote young creative talent on an ongoing basis. This will culminate in the Facebook Challenge, which will become an official Loerie Award in the Student Category from 2017. One of the highlights of the week was the partnership between Facebook and the Nelson Mandela Foundation to run the first student Hack for Good at this year’s Loerie Awards. Twenty of the country’s top students competed in a 48-hour hack to create a world-class video campaign, speaking to the theme of “Tolerance” and “Living the Mandela Legacy”. Facebook will sponsor the production and flighting of the campaign on 5 December, the second anniversary of Madiba’s passing. “If we want to be more creative, we have to connect – with each other, the industry and the world,” Head of Facebook, Africa, Nunu Ntshingila said. “For Facebook, the Loeries is a perfect opportunity to celebrate how Africa’s dynamic creatives are using mobile to make human connections and tell compelling stories. Mobile is the creative canvas of our time and young African professionals will define how it is used in the years to come.”

Philips Showcases Innovation

Around the globe, disruption, innovation, and the rapid pace of technological development is reshaping consumer experience, as well as the operating environment for organisations of all sizes and within every industry. The healthcare industry is no exception. That is the focus of Philips, which strives to deliver personal, meaningful innovation that has a positive impact on people’s lives, as it opened its Innovation Experience in Nairobi. “Our mission is to improve the lives of 3 billion people by 2025. This is a bold and daring vision. But looking at the state of the world, it is a path worth taking,” CEO of Philips East Africa, Roelof Assies stated at the event. The Philips Live! Innovation Experience 2016 provided a glimpse into the future of healthcare; attendees were taken on an experiential tour through an immersive setting, highlighting solutions that enable people to live a healthier life, innovations that make care highly personalised and more widely available to those who need it, and ways in which connected care empowers healthcare practitioners and patients – especially in cardiology care.

Nigeria with large expanse of arable land ought not to be spending huge amounts of money importing food items

CBN Governor

Godwin Emefiele

WEDNESDAY, AUGUST 24, 2016, • T H I S D AY

BUSINESSWORLD BANKS’ IMPAIRMENT CHARGES SOAR ON NAIRA DEVALUATION billion. The Group Managing Director of the bank, Mr. Herbert Wigwe said notwithstanding the high inflation and the impact of the currency devaluation on cost, operating cost remained stable owing to the bank’s cost management initiatives. “Optimising operational efficiency will remain an imperative for the second half of the year, as we continue to see the benefits of our cost initiatives intensify over the next few months, he said, disclosing that the priority of the bank in the coming months will be “to strengthen our position in the industry, increasing focus on risk and operational efficiency, with customer-centricity at the heart of our strategy.”

ANALYSTS FAULT PROPOSED 9% COMMUNICATION SERVICES TAX disclosed. The minister had said the administration was considering conservative oil benchmark prices of $42.5 for a barrel per day (bpd) for 2017, $45 bpd in 2018 and $50 bpd in 2019. He said the government was projecting a gradual recovery in the Gross Domestic Product (GDP) growth rate after the slowdown, adding that a very marginal growth rate of 0.35 per cent was expected in 2016, with growth rising to 4.4 per cent in 2019. “GDP growth is expected to be largely driven by the non-oil sector with agriculture including agrobusinesses, solid minerals, and construction and the housing sectors playing lead roles. Export-led growth will also be pursued,” Udoma said. Udoma also revealed that the federal government recorded a revenue shortfall of N1.064 trillion in the first six months of the year, stating that total revenue inflow was short of the 2016 budget projections by 55.2 per cent.

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 (Capital Market)

NEWS

CSOs: Foreign Aid Culture Has Made African Countries More Debt Laden, Inflation Prone Adedayo Akinwale in Abuja

development aid had made the need for domestic financial resources even more crucial. She stated: “it is evident that there is need for a mobilisation of resources to move the vision of Sustainable Development Goals (SDGs) beyond rhetoric to reality. This is even more evident in recent times where there is a constant decline in aid and other support for Africa’s development. “Domestic resource mobilisation has proven to solidify ownership over development

strategy and to strengthen the bonds of accountability between governments and their citizens. This is because locally raised funds give a government full control of designing development programmes and strategies based on the rear needs of the people without any influence by external forces. “The citizenry is also likely to hold its government accountable for the use of the taxes paid in providing the necessary services for the country,” she noted. Afadzinu emphasised that

government that rely heavily on foreign aid are less inclined to raising local taxes and therefore pay less attention to the demands of their citizens. The Executive Director noted that in this regard there was more to be said for promoting domestic resource mobilisation as against sourcing funds from external donors. On his part, the Deputy Director, McArthur Foundation, Mr. Oladayo Olaide said government spending would be most important source of domestic resource

for the SDGs in many parts of West Africa, adding that from MDGs experience, government spending was more reliable than aid. He explained that in order to mobilise resources locally, West Africa countries must block leakages in government revenues through a system strengthening and automation of revenue collection system, tax reform to improve computation and collection and review and reform of tax exemptions and concessions.

The West Africa Civil Society Institute (WACSI) has stated that the foreign aid culture has left many African countries more debt laden, inflation prone and more vulnerable to the vagaries of the currency markets and more unattractive to higher quality investment. Its Executive Director, Ms. Nana Afadzinu made this observation in Abuja during the 2nd West Africa Civil Policy Dialogue Series, 2016 (WAC-PoDiS) with the theme: “Financing our Development: Strategies for Domestic Resource Mobilisation for Agenda 2030 in West Africa and the Role of Civil Society.” She noted that foreign aid has also restricted the policy space of many developing countries due to existence of ‘tied aid’, which dictates what a designated piece of dunning should be used for with minimal control by the recipient country. According to her, in most cases, the restriction is extended to procurement processes with donors dictating where goods and services should be acquired in carrying out a given project, a lot of which sees contracts given to donor country companies to the disadvantage of local goods and services. Afadzinu stressed that the current development landscape and the dwindling desire by L-R: Commercial Manager, West Africa, British Airways, Mr. Kola Olayinka; President, LCCI, Mrs. Nike Akande; and Director General, developed countries to assist LCCI, Mr. Muda Yusuf, during a courtesy visit by the British Airways to the Lagos Chamber of Commerce and Industry at the Commerce developing ones in form of House, Victoria Island, Lagos…recently

COURTESY VISIT

Customs Intercepts Containers of Rice Worth N71m Eromosele Abiodun The Tin-Can Island Customs Command of the Nigeria Customs Service (NCS) has intercepted 31 containers of 14,000 bags of rice worth about N71million as maritime activities ended last Friday. The Deputy ComptrollerGeneral of Customs in charge of Enforcement, Mr. Dan Ugo, stated this when he conducted newsmen round the seizure. He disclosed that a company identified as Destiny Limited, falsely declared the containers as yeast but they were found to be containing rice

bags on examination. This, he stressed, led to seizure of the consignment. “Rice importation through sea ports is not prohibited but the agent claimed in the manifest that he imported 31 containers of yeast. Our duties to government is to ensure compliance and any defaulting agent will bear the consequences which is already stated in the laws guiding Customs operations”, Ugo added. He said the yeast claimed to be imported by the agent attracted five per cent duty, while the agent was tried to

short-change government. The DCG said that comparing the duty to be paid with that of yeast, it was a big loss to government. Also speaking at the event, the Deputy ComptrollerGeneral in-charge of Administration and Discipline, Iya Abubakar, warned that the era of importers engaging in false declaration and hoping to escape Customs clearance is over. Abubakar urged importers and agents to stop the criminal act of short-changing the government. He said that Customs of-

ficers would search the rice thoroughly to confirm that the goods were all rice. Abubakar noted that the Customs once intercepted a container having ammunitions that was declared as toys. On his part, the Zonal Coordinator, Zone `A’ of NCS, Assistant Comptroller-General Eporwei Edike, urged importers to feel free to bring rice through Nigerian ports only with honest declaration to fast track cargo clearance. Edike said that honest declaration would not give room for containers to accumulate demurrage.

The Customs Area Controller, Tin-Can Island Customs Command, Comptroller Yusuf Bashar, said that the importer was not on customs fast track provision. Bashar said that investigation was ongoing to arrest the agent involved in the consignment. Bashar however, urged journalists, as part of the stakeholders in the maritime sector to endeavour to assist Customs on intelligence information to improve operations. He said that the rice consignment was imported from China.

Implementation of Renewable Energy Master Plan to Begin Soon Patrick Ugeh in Abuja Approval has been given for the adoption and implementation of the renewable energy master plan, and promoting renewable energy programme in schools. Also, the federal government has been urged to develop national guidelines/ regulations on efficient management of spent oil in Nigeria and pilot schemes in the six geo-political zones, while it is to engage the private sector in renewable energy programmes through public-private participation (PPP) arrangements.

Further, approval has been given for the implementation of national requirements and guidelines on registration of environment-friendly products and eco-labelling and the encouragement of manufacturing companies to buy-in to the scheme. Other programmes approved are forestry development and afforestation such as enrichment planting in forest reserves nationwide, promoting the use of alternative sources of energy, suspension of further exportation of Pterocapus Spp in Taraba State in the interim, as well as initiation and implementa-

tion of bamboo and rattan value chain development in the States. These are part of the programmes/projects that will help in the mitigation/ adaptation of the impacts of climate change approved by the 10th National Council on Environment (NCE) at a meeting held in Lafia, Nasarawa State. It was chaired by the Minister of Environment, Amina J. Mohammed and had the theme, “Environment and the Sustainable Development Goals in Nigeria - Empowering People, Taking Climate Action and Protecting the Environment”

In a communiqué signed by Atuora Obed for Director (Press), Ministry of Environment, the body urged the 11 participating frontline States to strongly support the NAGGW programme by providing adequate annual budgetary allocation, provision of land, enhancing community sensitisation and mobilisation and technical support; It also encouraged States to fully participate in the implementation of Extended Producer Responsibility Programme (EPR) nationwide, and approved the installation of automated

web-based flood early warning equipment in flood prone communities nationwide, where there is none presently; The Council also approved the re-introduction of national monthly Environmental Sanitation Day. It urged States with increasing land degradation problems that requested for approval for funding of erosion control programmes, afforestation projects, etc that are not policy-driven, to embark on bilateral consultations with relevant MDAs, including Ecological Fund Office (EFO).

WEDNESDAY, AUGUST 24, 2016, • T H I S D AY

BUSINESSWORLD

ANALYSIS

Changing Landscape of Nigeria’s Capital Market Following the evolution of Nigeria’s financial system, the capital market has developed into five different exchanges, writes Obinna Chima

NSE trading floor

The origins of the Nigerian Capital Market date back to colonial times when the British Government ruling Nigeria at the time sought funds for running the local administration. Discovering that funds derived from agriculture produce, marketing and solid mineral mining were inadequate to meet its growing financial obligations, the colonial administration decided to expand its revenue base by reforming the system of revenue mobilisation, taxation and other payments. It also saw the need to raise funds from public sector to cover temporary shortfalls in funds availability. Hence, it found it necessary to establish a financial system by setting up the basic infrastructure for its take off pending the development of an organised private sector. In 1957, the government and Other Securities (Local Trustees Powers) Acts were enacted. This law specified the types of securities in which trust funds may be invested. It also clearly defined the powers and responsibilities of trustees. By the end of the year (1957), the colonial administration had promulgated the General Loan and Stock Act and the Local Loan (Registered Stock and Securities) Act on the recommendations of the Barback Committee. Today, there are several Exchanges in Nigeria. They are: the Nigerian Stock Exchange (NSE), The Abuja Securities and Commodity Exchange (ASCE), FMDQ OTC and the NASD Plc. Like in other clime, these Exchanges were set up for different reasons. For example, the NASDAQ was created in response to concerns from the United States Congress in the 1960s that its Securities and Exchange Commission (SEC) had been lax in supervising stock trades, and had not adequately enforced rules against large securities companies. Nigerian Stock Exchange There is no doubt that the Nigerian Stock Exchange (NSE) has contributed immensely to the development of the capital market. The Lagos Stock Exchange was registered as a business name in 1960 and incorporated under section 2 cap. 37, on September 15, 1960 through the collaborative effort of the Central Bank of Nigeria (CBN), the business community and the Nigerian Industrial Development Bank (at the time known as Investment Company of Nigeria Limited (ICOM).The objectives of the then Lagos Stock Exchange as specified

in its memorandum and Articles of Association were to provide facilities to the public in Nigeria for the purchase and sale of funds, stocks and shares of any kind and for the investment of money, to control the granting of a quotation on the stock exchange in respect of funds, stocks and shares of any company, government, municipality, local authority or other corporate body, to regulate the dealings of members’ interest and with their clients and to investigate any irregularities or alleged irregularities in the dealings of members and their clients, any complaints made against members by other member, or any other parties provided that such differences, disputes or complaints shall relate to or touch on the stock broking business or activities of such members, and to deal with them and to decide upon such irregularities, differences, disputes or complaints and to take necessary steps for the enforcement of its decision and awards. Trading operations commenced from the CBN building on June 5, 1961 after the enactment of the Lagos Stock Exchange Act of 1961. As at today, the NSE has 13 branches in Lagos, Kaduna, Port Harcourt, Kano, Onitsha, Kaduna, Ibada Abuja, Calabar, Ilorin, Abeokuta, Oweri, Bauchi and Yola, all linked online real time. The Exchange started operations in Lagos in 1961 with 19 securities listed for trading. The exchange has also deployed best in class trading technology called X-Gen. The Executive Director Market Operations and Technology, NSE, Ade Bajomo, who during the launch of the platform on September 30, 2013 said,“Today, we are trading live on X-Gen and this is a result of a focused, disciplined and intensive 12-month project involving the NSE, its technical partners and the broker dealer community. We believe that the successful implementation of this modern, world-class trading technology suite is a significant development that will change the experience of doing business in not only the Nigerian capital market but in Africa.” 2008 Crisis Before the 2008 crisis, the Nigerian stock market rose from a modest traditional securities dealing to an explosive growth phase occasioned by the financial sector reforms of 2004, with its major emphasis on the recapitalisation of banks and insurance companies. Despite fears about its

relatively under-developed nature, the Nigerian Capital market confounded sceptics by absorbing the various rounds of capital raising predominantly by Nigerian banks and in so doing, gained attention from the international investing community, particularly as a result of the spectacular returns recorded by investors in Nigerian stocks subsequently. With many hedge funds and asset management companies scouring the globe for profitable returns on their idle pool of funds, Nigeria offered a ready destination for Foreign Institutional investment inflows. The All Share Index or ASI surged at an average of 37 per cent annually, with a record high of 66,000 basis points in 2008 from 8,000 in 2000 and market capitalisation crossed the N13 trillion threshold in March 2008. However, the Oscar N. Onyema led administration was ushered into office in 2011 and birthed a transformation agenda that experts argued has brought the NSE back into global reckoning. NASD OTC Following the 2008 stock market crisis, most companies that did private placements failed to list on the NSE as promised, a situation that further dampened investor confidence. This was what primarily gave birth to the NASD OTC. The NASD was approved by the Securities and Exchange Commission (SEC) to operate an over-the-counter (OTC) in Nigeria. It trades unlisted securities. To buy or sell shares on NASD OTC market, potential investors are encouraged to contact a licensed stockbroker. The NASD stockbroker list are categorised into two namely Broker/Dealer Firms and Broker Firms. Stockbrokers provide investors with other available information on unlisted shares. The NASD OTC market facilitates transactions through two independent trading platforms: Leased trading platform and BITS. Recently, the League Management Company (LMC) and NASD OTC Securities Exchange signed a Memorandum of Understanding to partner towards actualising the listing of NPFL Clubs in the secondary capital market. MD/CEO of NASD Plc, Bola Ajomale said the partnership is significant to the extent that it was bringing football and the business community together for the mutual benefit of all parties. “It is with a sense of excitement today that I announce that the NASD OTC Securities Exchange

has reached an understanding with the major promoters of football in Nigeria – the League Management Company. Our Memorandum of Understanding marks the beginning of a merging of financial and sporting interests in an unprecedented manner in Nigeria, “he said. FMDQ The FMDQ concept was promoted by the Financial Markets Dealers Association (FMDA) in 2009 and sponsored in 2010 by the Bankers’ Committee. The Bankers’ Committee is chaired by the Central Bank of Nigeria (CBN), with the Nigeria Deposit Insurance Corporation (NDIC) and all the banks and discount houses operating in Nigeria as its members. The Committee resolved to operate all the over-the-counter (OTC) inter-bank market activities in fixed income and currencies under a Securities and Exchange Commission (SEC)-registered self-regulatory organisation, and be governed by this authorised body. As a securities exchange and self-regulatory organisation, FMDQ provides the following business services: Rules enforcement, data analytics, collateral management, product development, index construction, listings and quotations and data services. FMDQ promotes market development in the Nigerian OTC financial markets, with a primary focus on the OTC markets – fixed income (money, repos, commercial papers, treasury bills, and bonds), currencies and derivatives. Recently, the Central Bank of Nigeria (CBN) made history in the Nigerian FX market as it becomes the pioneer seller of the Naira-settled OTC FX Futures contracts on FMDQ OTC Securities Exchange (FMDQ). The Naira-settled OTC FX Futures product, whilst of tremendous benefit to Nigerian corporates, is of immense importance and advantage to the CBN, the Nigerian FX market, and the nation’s economy as a whole. The OTC FX Futures market will serve to minimise the disequilibrium in the Spot FX market and cause the rate to moderate; attract significant capital flows to the Nigerian fixed income and equity markets; and achieve exchange rate stability. Managing Director/CEO of FMDQ, Bola Onadele. Koko said: “The Naira-settled OTC FX Futures product is a major milestone development in the Continued on page 31

WEDNESDAY, AUGUST 24, 2016, • T H I S D AY

BUSINESSWORLD

ANALYSIS

Galvanising Nigeria’s Economy Through Eurobonds Goddy Egene writes that raising funds from the international market will go a long way in improving the country’s infrastructure base and boosting the economy

Adeosun

Efforts to diversify the nation’s economy are being intensified following the realisation that depending on crude oil as the major revenue earner for the country is unsustainable. The fall in the price of crude oil has affected the nation’s revenue and has become a big challenge, hence the government is striving to ensure there is urgent need to develop other sectors of the economy in order to increase the revenue stream. However, for the diversification to be successful, the infrastructural base has to be improved upon. Considering the low revenue from oil, financing this infrastructure with only internally generated revenue would be a hard nut to crack. Eurobond option This was why the government has decided to fund part of the 2016 budget through borrowing from foreign investors. This led to the determination of President Muhammadu Buhari - led administration to tap into international debt markets to raise bonds for the first time in three years. The bonds, according to the government, would be project-specific infrastructure ones. Project-specific bonds have been used in many countries for greenfield and brownfield projects. Canada is said to be the country that mostly relies on capital markets to finance infrastructure projects. Specifically, the government is expected to raise $1billion through Eurobond for capital expenditure this year. The Minister of Finance, Mrs. Kemi Adeosun said unlike in the past when bonds were raised for recurrent expenditure, funds to be raised by the current government would go for specific projects that would help to galvanise the diversification of the nation’s economy. Speaking in the same vein, the Director General of Debt Management Office (DMO), Dr. Abraham Nwankwo said that most of our natural resources are still lying free. “Therefore, given that we need to generate more growth and development and reduce poverty, it is imperative for us to augment domestic resources with external resources for it to accelerate growth and development, it will not be reasonable to depend only on local resources,” he said. Nwankwo said Nigeria’s low debt to Gross Domestic Product (GDP) ratio means the country can borrow more to fund budget, infrastructure

Nwankwo

and other essential projects that will stimulate the economy and create jobs for the citizenry. The 2016 budget has a deficit financing that requires an additional N1.84 trillion for capital expenditure, which should be funded through borrowing from local and international markets through the supervision of the DMO. Hence, the plan to issue $1billion Eurobond this year. Road show Adeosun has led a team of Nigerian officials on a road show to the United Kingdom (UK) with the purpose of meeting global bond investors to ensure successful issuance of the bond. During the road show government team stated its willingness to stimulate the economy via the proceeds from the proposed Eurobond, while investors demanded to know when and how the Central Bank of Nigeria (CBN) will end capital controls and a currency peg policy which some said had starved the country of dollars and slowed foreign investment into the country. However, the flexible foreign exchange policy introduced by the CBN has addressed those that issue, just as Adeosun explained the decision to borrow in dollars. She said: “The reason we are borrowing in

Therefore, given that we need to generate more growth and development and reduce poverty, it is imperative for us to augment domestic resources with external resources for it to accelerate growth and development, it will not be reasonable to depend only on local resources

dollars is because it is relatively much cheaper than yields we can get on the local bond markets. We intend to gradually increase the stock of dollar denominated bonds to about $20 billion from $13.2 billion.” Positive outlook One of the critical take home the minister and her team’s visit to the UK is that the foreign bond investors are interested in participating they are concern about the hitherto rigid foreign-exchange regime of the country which they blame for draining its reserves For instance, the second-biggest United State bank by assets, Merrill Lynch, said Nigerian Eurobonds would rally more if the government allowed the naira to weaken. A move the government has accepted, thus allowing the Naira to find its true market value. “Without some kind of exchange-rate reform, we doubt the market would look favorably upon a Eurobond,”a London-based economist at Exotix Partners LLP, Alan Cameron said. “Feedback from our clients suggests that the removal of the naira peg would be a positive catalyst for the dollar bonds,” a Sub Saharan Africa Economist at Bank of America Merrill Lynch, Oyin Anubi, said. “The dramatic slowdown in economic growth combined with uncertainty on foreign exchange and risks to oil production means that this is a difficult time to invest in Nigeria,” he added. However, the fact that this is not the first time Nigeria is trending this part coupled with the performance of previous bonds issued in terms of return to investors give hope to prospective investors. In mid-2013 the country raised $1 billion of five and 10 year debt from the international market. Latest analysis reveals that yields on the $500 million securities maturing July 2023 gained 8.3 per cent in 2016 compared with an average of 9.6 per cent for high-yielding emerging-market sovereign dollar-debt tracked by Bloomberg. Besides, the Bloomberg analysis further revealed that “Yields on Nigeria’s existing dollar debt are almost twice as high as those for Kazakhstan and Colombia, two other developing-nation oil producers.” Although some stakeholders have raised the alarm over the level of Nigeria’s indebtedness, the country’s debt-to-Gross Domestic Product (GDP) ratio, a measure of overall indebtedness, is very low compared to its peers.

For instance, Nigeria’s debt-to-GDP ratio among the lowest in emerging markets at 10 percent, with just $8 billion in sovereign debt outstanding in hard currency, is an indication that it should be preferred by investors. The ratio for Kenya and South Africa is over 40 per cent. “Nigeria’s external debt-to-GDP is still very small, the total size of the Eurobonds relative to everything else is tiny,” Anubi said. “Even though we are moving into a situation where the fiscal deficit is worsening and the current account may slip into a deficit, again - compared to many other emerging market economies - the situation is not bad,” he added. However, local investors appear not to have toed the line of government, Economist and Chief Executive Officer, Cowry Asset Management Limited, Mr. Johnson Chukwu, believes the timing for the proposed bond raising is wrong. He said: “Nigeria currently has a high-risk profile. The rates are high now. I think the plan to approach multilateral agencies will have been a better option.” In the opinion of Managing Director, of investment firm, Afrinvest (West Africa), Mr. Ike Chioke, “clearly there has to be better alignment in resolving our domestic macroeconomic issues, which also will reflect how international bond investors will look at an international euro bond issuer like Nigeria.” “People may think they are disconnected, they are not, they are all tied together. So when we have for instance an exchange rate mechanism that is not tied to a structural change that has happened to our economy, which is that our dollar based income has fallen by more than 50 per cent and we have not made adequate adjustment to the exchange rate, investors who may say they want to lend to you in dollars may have concern about the capacity of funding. I can’t see the country doing above a billion dollars in a single issue. I think a team of good advisers could raise that money within three months all things being equal,” Chioke said. On his part Okan Akin, a strategist at asset manager AllianceBernstein believes that Nigeria is the best place to invest in Africa now. His words: “If you are investing in places like Africa, we believe it’s better to buy Nigeria because there is a local investor base. They usually step up and buy when international guys sell.”

WEDNESDAY, AUGUST 24, 2016, • T H I S D AY

BUSINESSWORLD

ANALYSIS

Banking in a Challenging Environment

To succeed in the present environment, banks must enhance their operations, writes Obinna Chima

Sekibo

CBN Governor, Godwin Emefiele

The prolonged oil price shock with its attendant spill-over effects in the banking sector has continued to manifest in various forms in the banking industry. Banks already have to contend with a lower yield environment and pressures on fee income lines; which have started to manifest in declared financial statements for the first six months of 2016. With it comes the never say die spirit of some players in the industry, which has seen many girding their loins and re-strategising their business focus for the journey ahead. Already, a number of players are exploring different forms of capital raising projects exercises, both locally and from offshore to boost liquidity and their operations with a view to strengthening their retail and commercial segments. Inevitably, with retail strategy, which is premised on reaching the mass clientele base and mobilising cheap funds, attention has returned to the customer as banks look to overcome the shock that trailed the withdrawal of public funds following the federal government’s implementation of the treasury single account (TSA) policy. From technology to customer expectations, the market has changed considerably in the five years since the global financial crisis and will continue to evolve in the years to come. To succeed in this environment, banks must enhance their existing business models. For Heritage Bank Plc, as part of efforts to enhance its financial intermediation mandate, the bank recently secured funding support from African Export Import Bank (Afreximbank) to the tune of $150 million. The fund was also for the bank to explore development opportunities. According to the Divisional Head, Corporate Communications of the bank, Olusola LongeOkenimkpe, the lender “executed the term sheet for the issuance of guarantee for its $150 million Convertible Bond with the Afreximbank to support its next phase of growth. “Afreximbank, a frontline African financial institution, believes in the uniqueness of the business strategy of Heritage Bank, especially the Small Growing Business focus of the bank, which aligns with the founding mission of Afreximbank.” Afreximbank had earlier, signed a $272 million loan agreement with Heritage Bank, providing funds to facilitate the acquisition of Enterprise Bank from the Assets Management Corporation of Nigeria. The fund represented 80 per cent of Heritage Bank’s $344 million winning bid for Enterprise Bank. The then President of Afreximbank, Jean-Louis Ekra, described the transaction as one that would bring value to the Nigerian government and to the country’s banking sector. “It will also advance Afreximbank’s strategic

goal of empowering Africans to participate in the continents’ strategic sectors and provide the bank with a platform for expanding the financing of SMEs in supply chains in Nigeria. “This deal, by all measures, will be one of the largest mergers and acquisitions in Nigeria, helping the Nigerian government stabilise its financial sector and create a better path for other African nations to follow, while empowering entrepreneurial Africans to realise their ambitions of owning and managing an important financial institution.” With just three years in operations, the bank’s its balance sheet has grown to over N600 billion and 165 branches across 34 states of the federation and the bank said it is working towards joining the league of systemically important banks in the country. The bank’s gross earnings reached N24.2 billion for the operating year ended December 31, 2015, as contained in its audited financial statement, representing its first full operating year since the acquisition of Enterprise Bank. It also recorded a profit before tax of N1.5 billion, profit after tax of N1.1 billion and net interest income of N12.2 billion, while attracting N312 billion as deposits from customers during the year- an indication of confidence. Besides, the lender supported businesses and individuals with N175 billion as loans and advances, achieving a total asset of N483.4 billion for the year. The Managing Director/Chief Executive Officer, Ifie Sekibo, said the result was a testimony to the increased acceptability of bank’s products and services by the banking public. “In the 2016 operating year, our desire to reciprocate the patronage of our customers and goodwill from stakeholders has prompted us to introduce new and bespoke services driven by cutting edge technology designed to empower businesses and individuals with opportunities to achieve economic prosperity. “The positive response to these efforts gives

We have given ourselves a five-year target and we have achieved a massive part of it in three years, if not for this economic slowdown we would have been closer, if not there now

us assurance of improved financial performance in 2016 leading to enhanced returns to our investors.” Its Executive Director, Services Bank, Niyi Adeseun, said“we have given ourselves a five-year target and we have achieved a massive part of it in three years, if not for this economic slowdown we would have been closer, if not there now. “It’s been our plan since the day we started this business. We are not planning to grow alone, but we are bringing SMEs that we have helped to grow over the years. Our objective is to produce more Dangotes in the nearest future,” he said. Speaking on how banks can navigate the current economic crisis, he said: “We need to protect capital, liquidity and ensure that even if you cannot predict where revenue will come from we need to manage cost. This is not the time to have bad loans, some are bad already, but the fact is that we must develop entrepreneurs to support our operations and the economy”. Already, investors have described the bank as one of the nation’s healthiest and fastest growing banks, with a target of becoming an industry leader in the near future. Support for Entrepreneurs The bank had commenced one of its intervention programmes in collaboration with the Central Bank of Nigeria (CBN), tagged “Youth Innovative Entrepreneurship Development Programme (YIEDP)” with funding capital of N3 billion. The selection of Heritage Bank as pilot partner for the programme was in recognition of its commitment to supporting Micro Small and Medium Enterprises (MSMEs). Emerging as lone partner at the pilot stage, CBN said the programme was designed to provide timely and affordable credit to assist youths in implementing their business ideas, thereby providing the mechanism of stimulating growth, reducing unemployment, as well as addressing youth restiveness. The target sectors are agricultural Value Chain (fish farming, poultry, snail farming); Cottage Industry, Mining and Solid Minerals; Creative Industry (Tourism, Arts and Crafts); and Information and Communications Technology (ICT). With over 4,000 business applications received within the first two months, as the first phase, the bank has successfully shortlisted 1,547 business applications to proceed to the second phase. “At second phase, CBN’s Enterprise Development Centres (EDCs) across the six geo-political zones will conduct a three-day business development training workshop for the shortlisted youths. After the training workshop, the youths will be required to write a comprehensive and viable business plan in order to access the YIEDP funding.

“At phase III, all business plans will be submitted on the application portal for the Business Review Committee to screen, review and select the eligible and viable business forYIEDP funding,”the bank said. Additionally, the bank in partnership with the Centre for Values in Leadership (CVL) empowered 100 aspiring start-up entrepreneurs under the Young Entrepreneurship Business Training Programme (YEBTP). The six months intensive course involving grooming, mentoring and financing include a three-month intensive capacity building training programme in the areas of keeping accounting records, financial discipline, sales and marketing in order to equip them with the knowledge base needed to succeed as entrepreneurs. Also, the entrepreneurs underwent a month’s hands-on internship/mentoring experience with the business mentors to understand and be acquainted with the technical skills needed for each specific business line under existing and experienced business owners. Heritage Bank and the Bank of Industry (BoI) also achieved a feat in wealth creation and the curbing of unemployment among the youth and boosting entrepreneurship, as they financed Live Well Bia Foods Outlet in Surulere, Lagos. Heritage Bank’s consultant on SMEs, Mrs. Raliat Oyetunde, said: “It is in time of recession that new millionaires emerge. This is an opportunity for the young ones between the ages of 18 and 35, which they should key into for various financing channels provided” by both institutions.” According to Sekibo, who was represented by Oyetunde, the documentation and financing of this project was concluded, with due diligence within six weeks which is a big feat. “We need more young entrepreneurs like the Managing Director, Bia Live Well Outlet, Fadesola Adedayo, to take Nigeria to the next level because the outlet will be opened in 47 other locations across the country before the year ends.” The Acting Managing Director, BoI, Waheed Olagunju, said that improved investment will activate a quick recovery of the country’s economy that has been in a state of decline. “BoI will continue to support youth with innovative projects like this venture because he has not just created a job for himself but for many others in the value chain,” he said. The Programme Manager of CVL, James Ebube, implored the entrepreneurs to put to judicious use the tools provided for them and commended the bank for the tremendous role it played and support given in achieving this feat.

WEDNESDAY, AUGUST 24 , 2016, • T H I S D AY

BUSINESSWORLD

PERSPECTIVE

Modular Refining as Alternative in Emerging Economies Ikenna Ifedobi highlights some unique options that modular refineries can offer emerging economies like Nigeria

A Modular refinery.

In the business of refining crude oil, what is good for the goose may not always be good for the gander. In essence, the modus of refining crude oil in developed nations may not always suit 3rd world countries like Nigeria. The fundamental developmental differences in socio-economic infrastructure and maintenance psychology demands that a more suitable approach be adopted by countries like Nigeria, to align with their stage of societal evolution and political uniqueness. This article shall focus on Nigeria as a case study to propose a better alternative for an emerging economy dealing with social vicissitudes that may otherwise make full conversion refineries inefficient when compared to small scale modular plants. History has shown in Nigeria that large scale, full service plants are difficult to maintain and often function at the level of small scale modular plants anyway, despite their size and heavy output potential. The Port Harcourt, Warri and Kaduna plants have been almost nonfunctional due to a poor maintenance culture and a profound difficulty for Nigeria to sustain the industrial ethics needed for large scale refining. While it is encouraging that the 500,000 BPD plant by Dangote will alleviate the national and regional shortages in petroleum products supply, it should be understood that the problems that crippled the older plants are still in place, and by the sheer size of the refinery, it may suffer the fate of the older ones if extensive reforms are not implemented. Modular refineries however offer some unique options that may be more suitable for emerging economies like Nigeria. Why modular is preferable A modular refinery by definition is a prefabricated processing plant that has been constructed on skid mounted surfaces, with each structure containing a portion of the entire refining process plant connected together by interstitial piping to form an easily manageable process. Due to its manageability it is in my opinion better suited for the Nigerian environment.

Its key advantage lies in its size, cost differential and flexibility. It is constructed in a controlled environment and properly tested before being shipped out. It is relatively easier to fabricate and erect. Also, when an area becomes unsuitable for business, it can be disassembled and reassembled in a more suitable environment. For areas with non-cohesive geopolitics like Nigeria, modular plants can be scattered throughout the country to each serve the needs of the various regions of the country. The maintenance cost is low; considering that it processes 2,000 to 15000 BPD of mainly light sweet crude, routine turn around maintenance and on-stream inspections would require less personnel and down time. Modular plants are easier to secure because of the reduced surface area and perimeter; issues of internal monitoring of equipment and external acts of sabotage can be better policed given the smaller area of operation, and in a situation where one plant suffers an incident, the other smaller plants scattered all over the country can still be operational. The impact on the environment is nothing compared to a large scale refinery. Environmental pollution and regulation can best be controlled with small scale plants in countries that may not have the industrial ethics to manage the huge amount of pollution prevalent with large scale refining. While a full conversion plant can cost anywhere from 2 to 9 billion dollars, the same amount can be used to spread the risk potential and build various modular plants all over the country to cater to the needs of each geopolitical zone. Finally, while it may take several years to build a large refinery, modular plants can be put to service in a matter of months, and only cost about 250 million dollars. The issue with large scale refining In a volatile 3rd world nation like Nigeria, large scale refining has some profound disadvantages that have over the years been proven by the non-functionality of plants and the heavy dependence on fuel imports even after the plants were built. This shows

that unlike developed countries, economies like Nigeria have not evolved to managing large scale plants and maybe should look to smaller and flexible units. The key reason here is maintenance. Large scale refineries are not easy to maintain and require a stringent quality control and jurisdictional system to ensure longevity. Global standards stipulate that process equipment be opened cleaned and inspected at least every 5 years, and an on-stream mechanical integrity program be implemented and documented. While some refineries in America built in the 1920’s are still fully functional, Nigeria’s oldest refinery was built in 1965 and operates at less than 15% capacity. The jurisdictional and industrial ethics are clearly absent and such levels of operation do not suit societies like Nigeria. Because of this lackadaisical culture of maintenance, the likelihood and consequence of failure of having such huge process capacities cannot be overstated. In the event that all the country’s refining rely on a few giant plants, once those facilities suffer a mishap, the country is immediately thrown into socio-economic shock. However, if there are numerous small scale plants then the risk is spread and environmental and economic impact reduced. Why spend 9 billion dollars to build a 500,000 BPD behemoth, only for it to become epileptic in ten years. Industrial Analysis The Nigerian example is the most extreme in all the 3rd world in evaluating the problems that a huge refinery can encounter. Due to the dependence in extensive interconnecting piping, large scale plants in Nigeria will find it very difficult to stay in business if the pipelines are not protected. Given that pipeline vandalization has never been arrested and that there is a serious problem of disgruntled elements in the country blowing up pipelines, how then do giant refineries stay in business? How do they get their crude oil feed? Is it really worth it to invest 9 billion dollars in one area and operate on a skeletal scale?

Given the stratified nature of the Nigerian population in terms of ethnic tensions, it may be advisable for regional refining to be considered, where indigenous modular plants are operated and overseen by indigenes of the region for their own economic benefit. In this case, if they blow it up, then they are really hurting themselves as opposed to seeing the facility as a symbol of government or multinational domination. Deriving any economic benefit from modular plants is highly dependent on their proximity to marine transportation. It is imperative that areas that border with the Atlantic Ocean be made safe one way or another. This is the responsibility of the federal government. Also it is imperative that the federal government gives strong consideration to pipeline protection from the standpoint of advanced technology. These two factors are at the root of any kind of viability in petroleum refining in Nigeria and ultimately national economic development. Also the PPMC of the NNPC should extend fiscal incentives towards the budding modular refining industry by guaranteeing the purchase of all output and regulating the downstream sector of the industry. It is common knowledge that there is a huge market for petroleum products not just in West Africa but the entire continent, however the appropriate national institutions must ensure the growth of investments by acting as the industrial fulcrum between demand and supply. At this stage of national development, small scale modular plants will yield more economic benefits and return on investments than their large scale counterparts and with the proper government incentives may solve the problem of fuel scarcity and imports which a giant oil producing country like Nigeria should not experience. • Ifedobi is an economist and consultant of the American Petroleum Institute (API). ikennaifedobi@gmail.com

WEDNESDAY, AUGUST 24, 2016, • T H I S D AY

BUSINESSWORLD

INTERVIEW

Adedeji: Multiple Taxes in Insurance Scare Away Foreign Investors

Mr. Kolapo Adedeji is the Managing Director, Niger Insurance Plc. In this interview with Ebere Nwoji, he spoke on the impact of the economic recession on the insurance sector, imposition of excessive taxes on operators, as well as what the industry stands to benefit from the proposed municipal pool, among other burning issues in the industry. Excerpts:

In your 46th Annual General Meeting just held, shareholders were happy that Niger Insurance, is still able to pay dividend despite the hard times businesses in the country are experiencing. How were you able to do this when others found it difficult to do so and what led to this decision to still reward shareholders despite the harsh operating environment? To every company, you have important stake holders. One, the people that have put this company together and give us the opportunity to run it and that is the shareholders. They are very important. Another set of important stake holders to us are the employees. They are very important set of stakeholders. Most important are the customers and again the government. When you talk about the customers, is a subset of the society. So you have to also have consideration for the society and that is why we talk about corporate social responsibility. We don’t give money to the shareholders; we deliver value to all stakeholders including government in the area of taxation, giving back to the society through Corporate Social Responsibility. For employees, you have to make them happy so that they can bend down and do the work. to shareholders, they are the ones that have put the company together and given us the opportunity to have a stake. So we have been very consistent in rewarding them over the years, because they are diverse, you have retirees, working class, you also have people that are there for the purpose of growing their businesses. The board considers these and tries to maintain the tradition of rewarding them consistently. We try to make their reward unbroken over the years; that is the tradition we have decided to follow. It also makes them to identify with the company and continue to give their support. We know that times are hard, but it is a passing phase. After the rain, comes the sunshine, so we believe there is still light at the end of the tunnel. Times are hard really and Nigeria has been officially declared to be in economic recession, how do we look at that in relation to insurance business, how will it affect insurance business? To me, you know in economic circle, you have period of boom and period of bust. As a country, we had our period of boom when the price of our major source of revenue that is oil went as high as $120 per barrel. Now, we are in recession and government is facing a major challenge. I believe that running government is about spending money, I also believe in making savings but part of the savings should be spent on infrastructure that can also lead to greater generation of income by the masses. We are in recession and government’s earning is coming down but government is still the biggest spender meaning that what will flow from government into the economy is driven by what the government has been able to save before now and what it is making at present. But is also a challenge really because whether we like it or not, it is part of our revenue may be in the short run, because government is still the biggest spender. But to cushion that effect, there is need to empower ordinary citizen. But again, if the disposable income of the ordinary citizen is also going down because of one, am not saying the salaries are being delayed but what am saying is that purchasing power is weakened now because there is also inflation especially if you look at the foreign currency exchange rate, you see that purchasing power has really dropped and if that happens, it will affect insurance business .You know insurance is always last in the scale of preference. Because first, you talk about food, children’s school fees,

Adedeji

housing, you know today’s land lords among others before you talk about insurance. So you have to attend to these basic needs of life. So if inflation has eroded items one and two, you know what will be left for insurance. So it is going to present a lot of challenges because this is a service, now you are trying to project better in terms of awareness, creating new product. So I want to believe that it will really affect the industry because if you look at it, talk about, the performance of the budget, all of us are sitting on the national economy. Now the capital vote has been released, about N248billion, if you look at that, is between 55, 60 percent of the budget because of the dwindling revenue, so if budget is not going to perform 100 percent, it is really going to be difficult to set target. The honorable minister has just told us that we should expect a turnaround from third quarter. In the mist of this recession, government is looking for alternative areas of growing

We are in recession and government’s earning is coming down but government is still the biggest spender meaning that what will flow from government into the economy is driven by what the government has been able to save before now and what it is making at present

the economy outside the oil, insurance is one of these areas targeted by government. This is because as you rightly said, banking industry has reached its peak and is coming down, what would you want government to do to enhance the performance of the industry? Well, let me first of all say that government has taken the right step when you talk about repositioning the economy. You must have read about the creation of municipal pool, this is meant to increase capacity to underwrite big ticket businesses. Also, I want to believe that the local content development policy of the federal government is doing a lot. Most businesses that before now go abroad are now insured here. But we too must grow capacity especially as the honorable minister of finance was talking about recapitalisation, because your business terms are sometimes a function of your capital. But I don’t want it to look like a contradiction because government is looking at other sources of income other than oil and gas what they should look at again is their taxation. I don’t want it to look as if we are complaining but government’s taxation regime is not too favorable to attract investors because if you are looking in the direction of this industry, it means that the ones that are supposed to bring in money to grow the industry the taxation problem is discouraging them. If you have a taxation regime that is too far from ideal, because what we are paying in the industry now is different from what you have in the manufacturing sector. I want to believe that there is an error somewhere, government should look into it. A member of the Senate has also promised to help us and see that it is looked into. Am not saying that government should not collect tax but if it allows the industry to thrive, government will even make more money from the industry in the area of taxation and the industry will also benefit. But Like I said, the local content policy is working. Our regulator is also trying. What they

are doing now is to ensure that every company that is licenced is also participating in all these businesses that must be domesticated. It is not a question of whether a company is weak. If it is weak, you have not withdrawn its licence. It is also not a question of whether a company is not paying claims promptly because you have not even complained. But it is good to allow everybody that is so licensed to try. So that is what the regulator is doing to ensure that there is a spread. As you know, insurance business is all about sharing of risk. Again if that happens, you can be sure it will reduce unbridled competition. For instance, if company ‘A’ knows that company ‘B’ is stronger, what will happen is that it will allow company ‘B’ to bid especially in oil and gas, without necessarily bringing down the rate knowing fully well that whether you like it or not at the end of the day, the bidding company cannot carry the risk alone. You must get your share of the business. A larger chunk will still go out going by the structure we have on ground now, majority go offshore so there is no point charging low risk in order to get the business. So from what they have done now, really, there will be a fair spread and again every company has been so recognised and that will enable many companies to grow. Because you can only grow if you are taking in more and more businesses and gain experience on whatever class of business you are underwriting. After gaining experiences, you can now have capacity and begin to underwrite bigger ticket. Like I said, all we are seeing now is a passing phase and I know insurance will be better for it at the end of the day. Are you saying that the municipal pool will stop all the negative practices going on in the industry like rate cutting, unhealthy competition? Yes, I want to believe so because we have pools in the past, oil pool and is helping us to conserve business within each other. Whether you like it or not, all of us combine, cede all the Continued on page 31

WEDNESDAY, AUGUST 24, 2016, • T H I S D AY

BUSINESSWORLD

INSURANCE

NIA to Establish Educational Endowment Fund for Tertiary Institutions Ebere Nwoji The Nigeria Insurers Association (NIA), has proposed to establish Educational Endowment Fund that will support research projects in institutions of higher learning in the country. According to the association, this was in line with its commitment to promote insurance education in Nigeria by encouraging research and hard work in tertiary institutions of learning. The new Chairman of NIA, Mr. Eddie Efekoha, who stated this at the investiture ceremony organised on his behalf in Lagos by the association, said his administration would soon present proposal to this effect to the Governing Council of

the association. “This is in line with our commitment to promote insurance education in Nigeria by encouraging research and hard work in our tertiary institutions of learning”, Efekoha stated. Highlighting the theme of his administration as “Sustainable Market Development through Stakeholder Engagement”, Efekoha, said the endowment fund proposed by his administration has formed one of the four critical areas he has set to address. Others he listed are stakeholders engagement, noting that very often, insurance as an instrument for financial intermediation is misunderstood by policy makers. He added that this has made it necessary to enter into

constructive engagement with relevant stakeholders. This according to him, will include the need to share knowledge with judicial officers, magistrates and judges on the workings of insurance business and to fully equip them to be able to respond adequately to the rising cases of fraudulent claims in the market, among other adjudication issues. “We will engage the legislators in the process of making laws that affect the economy at large and insurance industry in particular. You will all agree with me that they are a major stakeholder whose support the industry would require at all times. The various bills before the National Assembly require concerted efforts to push through the industry position. It is only

with the active engagement with the lawmakers that the industry can protect its business interests”, the NIA boss stated. He also said his administration would make collaborative efforts to enforce market discipline amongst industry players. According to him, this will involve engagement with colleagues and partners in the industry to encourage market development and sustainable business practice in the industry. He noted that NIA operates under the tenets of a Self Regulatory Organisation (SRO), presupposing that it works through the instrumentality of peer pressure. He said his administration would try to build trust and provide leadership so that some of the issues of market

indiscipline will be promptly dealt with. “Specifically, the NIA under my chairmanship will where necessary, work with other stakeholders to ensure that all compulsory insurances are enforced, explore areas of collaboration particularly on shared services with a view to reducing overhead costs, ensure that the on-going implementation of risk based supervision is continued with inputs from the association,” he said. Efekoa, also said his tenure will see to the review of the NIA Constitution to make it more dynamic in response to the changing business environment. The new NIA chairman, also promised that the association, having over the years moved its secretariat from one location in Lagos to the other, from Ajele

Street in Lagos Island after its incorporation in 1971, to NICON House at 5 Customs Street, Lagos, then to its present location in Saka Tinubu, which it occupied since 1998, with the present desire of the governing council to have a befitting secretariat worthy of the status of the association, Efekoha said to this end, a committee was set up in 2015 with a view to erecting a befitting edifice for the association. He said his administration desires to see that this vision is actualised as he implored all members to join hands to make the project a reality. He commended the National Insurance Commission (NAICOM) for its various initiatives towards ensuring a stronger insurance market.

Sovereign Trust Insurance Grows Profit by 97% Sovereign Trust Insurance Plc has said it grew its Profit Before Tax by 97 percent from N294.94million in 2014 to N582.21million in 2915. The company’s chairman Oluseun Ajayi , announcing this at the company’s 21st annual general meeting (AGM) held in Lagos, attributed the significant increase in the company’s profit to several cost reduction mechanism adopted by the management in the course of the year. He however said Sovereign Trust Insurance, experienced a slight fall in Gross Premium written and Underwriting Profit for the year, blaming this on unconducive business environment. “The performance is not unconnected to the harsh operating terrain and policy uncertainty experienced in the country during the year,”Ajayi explained. He said the company has deployed measures and strate-

gies aimed at increasing income generation and positioning the brand more competitively while continuing relevant cost reduction measures in all areas of its operations. He expressed optimism that this would shore up growth and profitability of the company in the years ahead. Ajayi, who took over the mantle of leadership of the company’s board from its erstwhile chairman, Ephraim Faloughi, noted that the potential of the Nigeria Insurance sector, was huge but said there is need for collaboration and far reaching strategies to develop the retail market. “The growth of the insurance sector lies within retail space as concentrating efforts on corporate business which have remained the same over the years would not yield the needed result and the industry would not go far in its effort to contribute to the nation’s GDP in the years to come.”

INDUCTION OF NEW NIA CHAIR

L-R: Chairman, House of Representatives Committee on Insurance and Actuarial Matters, Hon. Olufemi Fakeye; the new Chairman, Nigerian Insurers Association (NIA), Mr. Eddie Efekoha; Chairman, Senate Committee on Banking, Insurance and other Financial Institutions, Senator Rafiu Ibrahim; Commissioner for Insurance, Alhaji Muhammed Kari, at the formal investiture ceremony of Mr. Eddie Efekoha, as the 22nd Chairman of NIA in Lagos … recently

Staco Insurance Partners Foreign Investors to Boost Operations

ous oid ed.

Staco Insurance Plc has said it is currently in talks with some foreign investors for equity participation in its business activities. The company disclosed this to shareholders at its 20th annual general meeting (AGM), held in Lagos, saying that the discussions will soon yield fruitful results. Staco Insurance Chairman, Dere Otubu, who stated this at the meeting, attributed the positive change and interest of foreign investors in the industry to various reforms embarked upon by the regulatory authority and existence of untapped potentials in the industry. Announcing financial performance of the company to the shareholders at the meeting, Otubu, said Staco Insurance, during the year ended December 31, 2015, achieved N5.730 bil-

lion premium. According to him, underwriting result of N1.944billion was also achieved by the company while Profit Before Tax of N62.34 million was recorded. Otubu,also said these results were achieved amidst challenges that prevailed against business operators during the year under review. Speaking, Managing Director of Staco Insurance, Sakiru Oyefeso, said the company, has as its core purpose the desire to be the natural first choice provider of insurance in the Nigerian financial market and in such a way that the delivery of its services will be an integral benefit to all concerned in order to create great value for the company and its stakeholders. “We have consistently been pursuing our vision with vigour and passion. “We are also confident that our passion

for high standards will see us achieve greater heights in the current year and the years ahead,” Oyefeso stated. He also said Staco Insrance, has steadily improved on its service delivery to clients adding that this is aided by investment in information and communications technology and the exposure of its staff to quality customer service training. Oyefeso also informed that the company’s investment in system automation has begun to achieve expected dividends adding that there has been applicable improvement in its response time. “In order to consolidate the gains, we shall continue to I prove on our processes and devote reasonable attention to meeting the training and manpower development needs if our employees at all levels during the year.

Standard Alliance Group Announces N1.234billion Profit Standard Alliance Insurance group, made up of Standard Alliance General Insurance plc and Standard Alliance Life Assurance Limited, in its business activities for the year ended December 31st, 2015, announced underwriting profit of N1.234 billion . The group’s chairman, Johnson Chukwu, announcing this to shareholders at the 20th annual general meeting of the company held in Lagos, said Standard Alliance insurance company’s underwriting profit for the period stood at N1,224,482 against N1,430,687 proft it recorded in 2014 as a restated company . This shows 14 percent slide in the company’s underwriting profit. He said Standard Alliance group’s gross premium for the period stood at N5.235.6 billion , while the company’s gross premium for the year stood at

N N2,956,271 against N4,333,254 gross premium it made as restated company in 2014 ,showing 32 percent slide. Net premium income of the group stood at N44,572,789,that of Standard Alliance company stood at N2,467,540 against 2014 figure of N3,863,664 it made as a restated company. Standard Alliance group’s Profit Before Tax for the period, stood at N819million while that of the company, stood at N713,867 million. Balance sheet assets of the group stood at N11.79 billion with approximately N4.65 billion of these being financed by shareholders’ equity funds. The group’s claims expenses for 215 was put at N2,077,752 while claims expenses for the company for the period under review was put at N824,794 million. Chukwu, who officiated as

the company’s board chairman for the first time, having taken over the leadership baton of the company from its erstwhile chairman Dominic Oneya ,assured shareholders that management and staff of the company are committed to putting the standard Alliance group on a solid footing and that it is on this commitment that the combined market and strengths of the life and general wings of the group will be harnessed in the immediate midterm for business growth and value generation for stakeholders. He informed the shareholders that there were no changes in the composting of the board either at the group level or within any of constituent entities of the group, describing this as a reflection of the effective board - level mechanisms that were put in place at the beginning of the financial year.

WEDNESDAY, AUGUST24, 2016, • T H I S D AY

BUSINESSWORLD ADEDEJI: MULTIPLE TAXES IN INSURANCE SCARE AWAY FOREIGN INVESTORS capacity together to underwrite big businesses. What is happening in the oil and gas business now despite the recession. Because I believe that the price of oil is stabilising and am sure it will also get back to a point where it will enable more investors to go back to the risk because now they don’t ,want to go back to the high sea but as it is now, all these glut from wherever now am sure is being addressed. As the president has said, if you can produce little at higher price, why do you want to produce more and sell at lower price am sure they are reaching out to the countries in the middle east concerned because there are some political angles to those countries.Look at the American companies, still growing ,creating new employments. Definitely, we have capacity problem but if things improve, I want to believe in two months’ time that is the beginning of winter, they will start stockpiling, I mean those of them that will not want to be caught up with higher prices. And that will also drive the market. It is left for us to learn lessons from what has happened to us in the past and be more prudent in management of our resources because our life style has not changed as Nigerians. We are still wearing expensive things all of which we are not producing, expensive handsets, if they bring in a container load of handsets into the country, it will finish within a short time and you start wandering that salaries have not been paid yet people have money for all these. But I believe that in terms of rot, Africa is not exception and Nigeria is not alone. Because if you get infrastructure right, the share population is enough to engender growth. Over 100 million people, you can just work on the middle class. Trading among ourselves alone can engender growth. You can travel from here to Jalingo in fact you can travel on Nigerian roads for 14 hours without a single boarder control. At the just concluded Annual General Meeting of your company sir, you talked about foreign investment into the company, have you identified a particular investor ,what level of equity are you likely to hand out? When you are talking about foreign investors, let me tell you, the minister said that all of us will recapitalise, you know that your retention is a function of your capital. Don’t forget that we attempted to go to the market in 2008, but what happened in capital market happened. We have put together all parties concerned, planned to have the first meeting, sequel to August 14 2009, it was Friday, the market started having issues. If you look at our balance sheet, because of the job, because of our equity and portfolio, it just created a kind of imbalance, so the business we do liquidity, is key .If you look at companies that are doing very well, just check the balance sheet, you will see they have huge capital .Some of them were very lucky, because they went to market just immediately before

Adedeji

the problem, why am I saying they were lucky, they would have invested the money in capital market and the shares would have also lost value. But we have been around before some of them several years, and we have seen all these kinds of businesses together with regulations. So when the crisis happened, that time, even if you had wanted to sell, nobody was ready to buy. Because you can buy Cadbury at N50 and you know tomorrow is going to be 48, so someone can say, why do I have to buy when I know tomorrow, it will come down to N48.00. So we were having more offer than people who were ready to buy. Honestly, we had thought that the Period of drop in value of shares would have been for a short period. Nobody had thought that it will be extended for so long. Not that it can still not go back, but before the confidence will come back, it will take time. So that has happened, talking about foreign investment, liquidity is very key .If you look at Niger Insurance, historically, we have not done anything public, or special placement or what you call IPO, what we have been doing over the years is right issues to the existing shareholders. But when the market went the way it did, they became fatigued and if you want to raise big capital, you find it difficult to get it from them. So that is why the board is looking at foreign investors for two reasons: You know if you are still looking for money from Nigeria outside the existing shareholders, if you are not going to make it right issue, you can still get significant figure but we have looked at the trend in the industry, what competition is doing. If you look at image, you look at the likes of AXA Mansard when you just mention the name, they are global, they are multinational, they have better technology, if you look at custodian before IFC came in, if you look at Leadway, now you have Swiss Re coming into the company. So in terms of visibility, to be very visible, it will be good to also have foreign linkage, it is a Nigerian company agreed, probably acting globally and thinking Nigerian. What the board is looking out for in a nut shell, is capital, yes we want to raise capital but let it be both capital and expertise. But if you are looking for money, in Nigeria, we can get good investors, but we are saying okay, if anyone is bringing money, what else. Because for Nigerians, if they bring in the money, they might not have these other qualities we are looking fir for reason of exposure. Aligning with foreign investors has a lot of advantages, in area of product development, the skill set, knowledge, we want them to blend and we need greater exposure, so that we can innovate. We can’t do it on our own but I must tell you there are a lot of interests in Nigerian insurance industry from outside the world, a lot. Anytime you go out you meet enquiries. So the board decided we bring in foreign investors for reason of greater exposure.

CHANGING LANDSCAPE OF NIGERIA’S CAPITAL MARKET evolution of the Nigerian financial markets. The Futures market is an opportunity to transform risk into certainty – a major paradigm shift in the financial markets landscape. This innovation provides opportunities for government, businesses, pension fund administrators, investors, individuals and others to hedge (not speculate) to cope with exchange rate risk.” He added, “It also affords the CBN a greater opportunity to manage exchange rate volatility, thus achieving greater market confidence, liquidity, improvement in business planning, job security, employment, better allocation of resources, global competitiveness of the Nigerian financial markets, and all in all, a thriving economy.” AFEX Nigeria’s pioneer agricultural commodities exchange, commenced the export of farm produce to global markets, following a deal it signed recently with Camscorp, another commodities exchange firm based in the UK. Its aim is to end Nigeria’s N250billion annual losses from its underutilised air freight export market. While countries like Kenya, South Africa, Benin Republic, Cote d’Ivoire, Ghana, Senegal, Ethiopia, Tanzania and Egypt are said to be participating in the trading of commodities such as fruits, fresh fish, vegetables and flowers through electronic exchanges, Nigeria, which produces these commodities in abundance, records zero participation. “We traditionally trade soya beans, paddy rice and sorghum, but now we are starting a number of export crops, and ginger is the one that we are signing today,”Ayodeji Balogun, country manager of AFEX-Nigeria, said. According to Balogun, “we already have contracts listed for cashew nuts and sesame seeds, and hopefully as we move along, we will be expanding our operations into other export crops that can help the country to diversify its economy and also increase the amount of non-oil dollar or hard currency generation.” NCX The Nigeria Commodity Exchange (NCX) was originally incorporated as a Stock Exchange on

June 17, 1998.It commenced electronic trading in securities in May 2001 and was converted to a commodity Exchange on August 8, 2001 and brought under the supervision of the Federal Ministry of Commerce. The conversion was premised on the need for an alternative institutional arrangement that would manage the effect of price fluctuations in the marketing of agricultural produce which has adversely affected the earnings of farmers since the abolishment of commodity Boards in 1986. Role of SEC in Market Devt Meanwhile, experts have stressed that the number of Exchanges are good for the development of the market. They therefore urged the SEC to ensure proliferation does not hurt the market. Hence, SEC, analysts stated, must support the deepening of the capital market. Recent reforms by the SEC include new rules on margin facilities and corporate governance. Others include the submission of annual audited accounts by banks to CBN/NSE not later than three months instead of six months provided by Companies and Allied Matters Act (CAMA); having compliance officers & CEOs as the only authorised signatories for all correspondences to NSE; the requirement for notification of NSE before trade execution of mandate of 1m units of shares and above; the yet to be implemented Market Maker rules and Straight Through Processing (STP), which will make transactions settle directly into clients’ accounts thereby eliminating brokerage firms as fund receivers/payers in trade (not yet operational). However, analysts believe there is the need for specialisation and removal of ambiguity around licensing to ensure that specialisation is paramount at the developmental stage of the capital market to compete globally. “There must be supervision of the exchanges to ensure that investors are protected. The SEC and the federal government should support the exchanges and ensure the full implementation of the capital market master plan to sustain the rising profile of the Nigerian capital market, “said analysts at Planet Capital Limited.

WEDNESDAY, AUGUST 24, 2016, • T H I S D AY

BUSINESSWORLD

ANALYSIS

Obiano and the Vegetable Export Challenge Two weeks after he told his audience in Abuja that the state has registered the exportation of vegetable to the tune of $5million, Anambra State Governor, Chief Willie Obiano, has come under scrutiny. David-Chyddy Eleke writes Sometime in February this year, some print media houses published stories of the exportation of vegetables cultivated in the Anambra State to parts of Europe and America. It was simply a beautiful piece of news that eloquently showcased the governor’s efforts in his agricultural revolution in the state. But two weeks ago, in a forum organised by the state government to avail it opportunity to interact with its citizens in Abuja and parts of the north, the governor mentioned again the feat, putting a price tag to the worth of vegetable so far exported, and this has triggered criticisms from opposition. Obiano had told indigenes of the state that, “in January this year, Anambra made headlines when it became the first state in Nigeria to export vegetables (Ugu) and bitter leaf (Onugbu) valued at $5 million to Europe. At the same time, our locally produced brand of rice known as Anambra Rice recently emerged the Best Rice in Africa at an African Products Forum in Lagos. Anambra Rice was adjudged better and more wholesome than other competing brands from South Africa, Egypt, Ghana, Morocco, Namibia and Cameroon. Our agricultural sector has also attracted investments from seven companies valued at $1.011b while the large industrial farms have pushed our local rice production from 90,000 metric tons to 210,000 metric tons. At this rate, we shall soon surpass the 320,000 metric tons we consume in Anambra State per annum.” A day after the story of his feat was published in daily newspapers, opposition parties and individuals rose to refute the governor’s story, saying that it was blatant falsehood for the governor to claim that such level of vegetable was being produced out of the state. The opposition which consisted mainly of Peoples Democratic Party (PDP) supporters stated that there was nowhere in the state where vegetable could be found to be cultivated in such quantity. They challenged the governor to make available to them the location of the farms, where in Europe the vegetables were exported and the company that handled the exportation of the produce. As the governor’s media aides were still grappling with replying the accusations on the social media, Sahara Reporters, an online news portal fired another salvo in which it carried a screaming headline, stating that Obiano lied on the exportation of vegetables to Europe to the tune of $5million. In its report, the online medium claimed to have launched an extensive investigation in which it found the claim to be false, while also analysing the pictures posted online by one of the governor’s aides as one of the farms in which the vegetable was harvested. Sahara Reporters insisted that the photograph used by the governor’s aides to deceive the people of the state to have come from Anambra was not taken in the state. The website wrote; “Sahara Reporters has found that, as part of Obiano’s campaign, he used images allegedly from Anambra farms depicting luscious produce, including red tomatoes. The governor’s public relations stunt has been circulating on Internet platforms featuring photos of tomato farms said to be producing European standard tomatoes. “However, when Sahara Reporters reverseimage-searched the photos being circulated by Obiano’s government, our investigators found that the images were lifted from other websites but deceptively identified as photos from Anambra farms. For example, an image of young vegetable plants actually comes from an Internet page from August 13, 2014, titled ‘Irrigation Practices in West Africa’. Another photo circulated by Obiano can be traced back to a 2010 blog post by an American named Chris Courtin, who had taken the photo during his fellowship in Nyumbani Village in Kitui County, Kenya,” the website stated. The report by Sahara Reporters has further strengthened the opposition, who have been bandying the report about to discredit the governor. The truth however remains that in the quest to diversify the state’s economy with the attendant dwindling resources from oil, the

Obiano

Anambra State government adopted agriculture as one of the pillars of the government, and has been pursuing its agricultural revolution with vigour. Some Anambra indigenes who said they have been following the argument on the controversial export who spoke to THISDAY on the issue believed that no one can take away the fact that Obiano has done a lot in the agricultural sector of the state, and that as a result of this, the state has also made a considerable leap in the production of agricultural produce not only limited to vegetables. Some of the pundits said that the governor may have goofed when he said that the total cost of vegetables so far exported. Mr. Ozochukwu Ibe, a banker said $5 million amounts to over N1.6 billion and the governor cannot confidently claim to have exported such quantity of vegetable. But Ibe added that what gladdens the mind is that even though the net export of the vegetable may be less than the quoted sum, what no one can truly disprove is that the Anambra State did not export vegetables. Rising in defense of his principal however, Mr. James Eze, SSA Media to the governor while providing defense for his principal said those who were saying that no vegetable was exported or that the state could not have made such earnings from vegetable fail to take a cursory look at the speech of the governor, in which he stated that the vegetables exported were valued at that sum,

and does not translate to the money having already accrued to the state. Obiano was also accused on the social media for rushing to do some sort of face saving measures after he released the figure and was discredited for lying. They insisted that he had embarked on aggressive photo collection to ensure that he supported what they believed was a lie he had told. Some of it they said involved assembling local women who were seen in a picture processing vegetables, with a banner right behind them with the inscription; Willie is Working’ and another picture of a consignment of vegetable at Murtala Muhammed International Airport awaiting lifting for export, with the same banner. In his reply to his critics, Obiano stated that nothing except envy and fear of his achievements could have fueled such criticisms for a move that should ordinarily have been applauded. Speaking on his behalf, Eze stated that those who doubted and are trying to cast aspersions on the governor because of his claims were those from the opposition in the state, who were envious of the governor’s “great feat”. Eze directed those still in doubt to the company handling the export of the products saying,“The entire export business is done in partnership with ABX World Inc. a logistics firm with years of experience in the business, whose team of experts can be approached by any investigative journalist for inquiries. The government of Anambra State does not feel strongly

obligated to reveal its trade secrets, to those who are trying to cast aspersions on her as a lot of evidence has been supplied to illuminate on-going conversations on this subject matter already.” Meanwhile, some Anambra indigenes, including a local farmer, Mr. Ezikiel Nnanyelu in an interview with THISDAY praised Obiano for making agriculture one of the pillars of his government. He said that before now, getting fertilisers was a very difficult task for farmers, as even though they were made available, they were shared by people who were not even farmers, but today even peasant farmers like himself, are accommodated. When asked if he was getting the fertilisers because he hailed from the same area with the governor, Nnayelu said it was not true. He insisted that all farmers in the state were getting it, and that this was made possible through the streamlining of farmers in the three senatorial zone, and also segmenting them according to what farm produce they cultivated, while also forming them into cooperatives. Nnanyelu who did not entirely condemn those who criticised the governor over the export was of the view that such people will actually spur up the governor to hasten the next date of export, and unlike the previous which was done without much media attention. “The next batch of export will go with a lot of fanfare, and involvement of the media,” he added.

WEDNESDAY, AUGUST 24, 2016, • T H I S D AY

BUSINESSWORLD

NEWS

IOSCO Moves to Increase Protection of Investors in Investment Funds Goddy Egene The International Organisation of Securities Commissions (IOSCO) has published a consultation report on which proposes a set of good practices on the voluntary termination process for investment funds. IOSCO, which is the leading international policy forum for securities regulators and is recognised as the global standard setter for securities regulation. The organisation’s membership regulates more than 95 per cent of the world’s securities markets

in more than 115 jurisdictions including Nigeria. The body recognises the importance for investment funds to have termination procedures in place from an investor protection perspective. According to IOSCO the decision to terminate an investment fund can have a significant impact on investors in terms of cost or their ability to redeem their holdings in a timely manner during the termination process. It said both retail and professional investors can be

affected by the ultimate value of their investment in a fund at the time of termination. The report targets a broad range of investment funds including collective investment schemes (CIS) and other fund structures such as commodity, real estate and hedge funds. IOSCO noted that most regulatory regimes have certain criteria for the termination of investment funds in their jurisdiction, ranging from the overarching obligation to act in the best interests of investors, to prescriptive requirements for

liquidating the portfolio and the payment of final distribution proceeds. But legislation at a national level in most jurisdictions addresses involuntary terminations (for example, in the case of insolvency of an investment fund). However, IOSCO’s work focuses on voluntary terminations with the objective to develop a set of good practices for the termination of investment funds which take into account investor interests during this process. “Voluntary terminations typically occur because an

investment fund, although still solvent, is no longer economically viable or can no longer serve its intended objectives. The decision to terminate in these cases is taken by the responsible entity, although this decision may be based on factors outside its direct control,” IOSCO said. It added that in a number of jurisdictions, an investment fund may elect not to terminate by liquidating its assets and repaying investors, and instead will seek to merge its assets with another investment fund,

often managed by the same responsible entity. In this regard, IOSCO said it is considering whether the issues arising from investment fund mergers generally would have a particular impact on the termination process. IOSCO is consulting on 15 good practices for the termination of investment funds that are categorised into: disclosure at time of investment, decision to terminate, decision to merge, during the termination process and specific types of investment funds.

Red Star Express Shareholders Approve N206m Dividend Goddy Egene Shareholders of Red Star Express Plc have approved the dividend of N206 million recommended by the board of the company for the year ended March 31, 2016. The dividend, which translated into 35 kobo per share, was approved by the shareholders at the 23rd annual general meeting held in Lagos. Speaking at the AGM, the Chairman of the company, Dr. Mohammed Koguna, noted “In spite of the challenges outlined, our company posted a turnover of N6.6 billion in the year under review. Our company has maintained its commitment in the creation of wealth for shareholders. To this end, the Board of Directors is recommending a gross cash dividend of 35kobo for every 50 kobo share translating to N206.3million. He explained that amidst the challenges of decline in oil prices, immense pressure on the Naira, rising inflation, volatility and uncertainty in the foreign exchange market, regular flight cancellations and upsurge in general cost of living, the staff and management worked assiduously to ensure that the company achieved a satisfactory result. According to him, the company recorded a revenue of N6.6 billion and a profit after tax of N334.4 million for the year. He disclosed that with a view to optimising emerging opportunities in the domestic and international business environment, the company has effected some in its management structure. He said the former Executive Director, Mr. Olumuyiwa Olumekun, and Group Managing Director/CEO, Mr. Sule Umar Bichi, both had their contracts expired on August 31st 2015. After one year of extension for Bichi to facilitate smooth transition to new leadership for the company, the company made new appointments

which took effect from April 1, 2016. Koguna added the board appointed three executive directors, and four divisional MDs. He thanked the outgoing staff for their contributions towards the growth and success of the company, while also wishing the new management the best in their performance in the years ahead. On future outlook, he pointed out that the company is committed to ensuring sustained and steady growth of its operations and returns on investments. \”Regardless of the volatile economy, we will continually invest in our resilient employees, optimise our processes, refine our strategies, engage in cost efficiency, focus on new initiatives and increase our market share across the emerging economic sectors. We believe our commitment will give us the thrust we need to achieve maximum benefits for our esteemed shareholders,” he added. Speaking on these appointments, Koguna thanked the outgoing staff for their contributions towards the growth and success of the company, while also wishing the new management the best in their performance in the years ahead. On future outlook, he pointed out that the Company is committed to ensuring sustained and steady growth of its operations and returns on investments. “Regardless of the volatile economy, we will continually invest in our resilient employees, optimise our processes, refine our strategies, engage in cost efficiency, focus on new initiatives and increase our market share across the emerging economic sectors. We believe our commitment will give us the thrust we need to achieve maximum benefits for our esteemed shareholders”, he added.

EMPOWERING NIGERIAN YOUTHS

L-R: Service Operations Manager, Mantrac Nigeria Limited, Ahmed Ragab; Recipients, Abiakun Samuel, Olorunlama Adebowale, and Shodeinde Seun; Managing Director, Mantrac Nigeria, Edmund Martin-Lawson and Technical Training Manager, Mantrac Nigeria, Lateef Adenle; at the presentation of certificates and cat kits to three of the successful candidates of Cat on-line Technicians for Africa, by Mantrac Nigeria...recently

‘Govt Must Support Agricultural, LBS,The Nerve to Organise Manufacturing Sectors’ Innovation Conference Nume Ekeghe The Chief Executive Officer, Erisco Foods Limited, Mr. Eric Umeofia has urged the federal government to increase its support for the agricultural and manufacturing sectors. Speaking at the groundbreaking ceremony for Erisco Foods’s Multi–billion naira, rice, groundnuts, maize farm and tomato processing plant in Katsina State, recently, Umeofia decried the activities of nefarious foreigners and those he described as their unpatriotic Nigerian collaborators, who import substandard tomato paste into the country and urged the federal government to immediately put a ban on the importation and dumping of fake products in the country. He however commended the efforts of President Muhammadu Buhari towards economic diversification and advised the government to ensure that only Nigerians and genuine foreign investors who can look inwards to stop the wastage of over 75 per cent of harvested fresh tomatoes in the country. Umeofia said: “Clearly, gov-

ernment needs to seriously show more support to the agricultural and manufacturing sector of the economy if we are serious about creating jobs and diversifying the economy. He said: “Our case is for government to create a level playing field for indigenous manufacturers, agriculturists and also for genuine foreign investors. Government should compel tomato paste importers to invest in tomato processing in Nigeria so as to provide more jobs for our people and this will save and also earn Nigeria the much needed foreign exchange.” He added: “Our new technology of conversion of fresh and dried tomatoes to paste will resolve this paradox if we and other local manufacturers are supported by government adequately, as Erisco Foods Limited has spent over N4 billion in buying both fresh and dried tomatoes that ought to have wasted (as usual) for our industrial need.” Umeofia also identified lack of foreign exchange, lack of low interest rate loan, hostility from MDAs and continuous importation of tomato paste as some challenges facing the country.

Nume Ekeghe Seeing how much innovation happens in Africa and how the lack of adequate documentation and spotlight is reducing impact, The Nerve Africa and the Lagos Business School (LBS) have partnered to organise Africa’s flagship innovation conference. The conference is scheduled to hold in Lagos on November 16 2016. The conference themed “Make innovation Happen,” is coming at a time innovation has been identified as the key to solving Africa’s challenges. It is expected to be a global convergence on enterprise innovation in Africa with highly thematic conversations and cross-industry thought leadership sessions on Smart Payments, Smart Cities, Smart Agric, Smart Content and Smart Corporations. “A lot has happened within the innovation space in Africa in recent times; sadly this has barely been documented or given the necessary amount of global media coverage required as America has done for its Silicon Valley. “The Nerve Africa, a global business publishing company

focused on continental Africa will in the course of the next 12months embark on an editorial journey, a process that will see the media company document and provide coverage of enterprise innovation within Africa. This process will start officially with an innovation conference in November 2016,” a statement explained. Speaking on the partnership with LBS, the Convener of the conference and Publisher of The Nerve Africa Mr. Perez Tigidam, noted that globalisation has created universal issues that require a unified, multilateral approach to resolve. Tigidam said: “Global think tanks and reputable business schools with their ability to function as international idea managers and brokers find themselves in a prime position to affect policy.” Lagos Business School’s industry knowledge and expertise is expected to be the key to achieving reasonable outcomes that help the event to be more than just a talk shop and provide the institution with a very important function at the policy level.

WEDNESDAY, AUGUST 24, 2016, • T H I S D AY

BUSINESSWORLD

NEWS

Customs Embraces Automation to Enhance Service Delivery

Eromosele Abiodun

The Comptroller General of Customs, Col. Hameed Ibrahim Ali (rtd) has expressed his delight with automation efforts by agencies of the federal government desirous of perfecting operational processes in line with their mandates in the maritime industry. He stated this during the launch of the Command Control Communication and Intelligence System (CCCIS)

in Lagos recently. Ali, who was represented by the Zonal Coordinator Zone ‘A’, Assistant Comptroller General of the Nigeria Customs Service, ACG Eporwei Charles Edike lauded the Nigerian Ports Authority (NPA) for the initiative. According to him, automation of ports operational process by federal government agencies are in line with government’s vision towards changing the old ways of doing business

to modern, technology driven processes devoid of human interferences/manipulations. This, he said, will save time, costs and reduce delays often caused by officials in a bid to be very thorough in their jobs. “The CCCIS is an additional effort and will enable the Nigerian Navy monitor midstream discharge of un-manifested cargo by vessels on Nigeria waters. Movement of vessels will also be monitored with greater precision to avoid

loss of revenue by the federal government. “The Nigeria Customs believes that the CCCIS will complement other automations already installed and being used by other agencies like the Nigerian Navy which has been assisting Customs on vessel monitoring within Nigerian waters. Other agencies like the Standards Organisation of Nigeria, SON, the Nigerian Maritime Administration and Safety Agency, NIMASA and

others. The Shippers Council as port Economic Regulator is also making efforts at automation that will improve sea port operations,” said the zonal coordinator. Edike added that “by the time all these systems are fully integrated, port services will become seamless, highly efficient. Revenue leakage will also reduce drastically. Though each federal government agency has its mandate and specific duties, the CCCIS is

a welcome development by the Nigeria Customs Service. “ Edike described it as a technological tool deployed by NPA for improved maritime operations across the country. He noted that all citizens should be proud of the initiative and support it. The ACG also called for greater collaboration and synergy between federal government agencies as they strive to actualise the dictates of their respective mandates.

ACAI, IITA-CWMP, BASICS Commend Extension of Sanginga’s Tenure Crusoe Osagie Researchers and staff working under the African Cassava Agronomy Initiative, IITA Cassava Weed Management Project, and the Building An Economically Sustainable, Integrated Seed System for Cassava in Nigeria (BASICS) project have lauded IITA Board of Trustees (BoT) for allowing Dr. Nteranya Sanginga to lead the international Institute for Tropical Agriculture (IITA) for another five years as the Director General. Last Thursday, Chairman of IITA BoT, Dr. Bruce Coulman announced, “Sanginga has accepted our offer of an additional five year term as Director-General, beginning 01 November, 2016.” This resolution, researchers said, will bring stability and continuity to cassava research in particular, and the IITA in general. Since assumption of office in 2011,Sanginga championed the rejuvenation of IITA and the resuscitation of key programmes to help change Africa’s agriculture narrative. “For instance, the investment in the Weed Science Program facilitated the funding of the IITA Cassava Weed Management Project, the investment in IITA Youth Agripreneurs has attracted the interest of several African countries, development partners, and the AfDB. The cassava bread program revived the interest of African governments in cassava production with Nigeria reintroducing the 10 percent cassava inclusion in wheat bread policy.” IITA said. Sanginga has more than doubled the Institute’s budget and during his tenure, staff morale has remained high. He initiated and completed in record time the Science Buildings/Hubs in Tanzania, Democratic Republic of Congo, and Zambia. His concept of delivery has led to the building and establishment of the Business Incubation Platform in Ibadan while IITA Cotonou has been transformed to a Center of Excellence for research on biotic stresses linked to climate change. Coulman said IITA had undergone a period of unprecedented growth in its science capacity under Sanginga’s first five years of leadership. Sanginga remained

committed to his vision that Africa can feed itself and that science and technology are the key enablers that would make the vision come true. Meanwhile, Harvestplus, a non-profit research and development organisation, has appointed Beverley Postma as its new Chief Executive Officer. To lead HarvestPlus in strategy development and implementation, partner outreach and engagement, resource mobilisation, and thought leadership, Postma succeeds Dr. Howarth Bouis, the founder of organisation and a 2016 World Food Prize laureate. HarvestPlus, a joint venture created by International Food Policy Research Institute (IFPRI) and International Centre for Tropical Agriculture (CIAT) in 2003, improves nutrition and public health by developing and promoting biofortified food crops that are rich in vitamins and minerals, and provides global leadership on biofortification evidence and technology. In Nigeria, the organisation works with the Federal Ministries of Agriculture and Rural Development, and Health as well as other partners to deliver and disseminate the nutrient-rich crops to over 1million households to tackle the scourge of malnutrition, which, according to the United Nations Children Fund (UNICEF), claims the lives of 2300 children and 145 pregnant women everyday. Reacting to the appointment, the Director General of the International Food Policy Research Institute, Dr. Shenggen Fan, said, “We are extremely fortunate to have recruited Beverley Postma as the new CEO of HarvestPlus. She is a highly qualified candidate with a strong and varied background and a passion for uniting nutrition and agriculture to benefit millions of vulnerable people around the world. We are excited to have her leadership as HarvestPlus progresses to its next phase.” Dr. Ruben Echeverría, Director General of the International Centre for Tropical Agriculture, said “Beverley’s international experience and her familiarity with food issues, innovation and multi-stakeholder partnerships are important assets for HarvestPlus and the global biofortification movement.”

FRATERNISING WITH OUR CLIENTS

L-R: Chief Executive, Stanbic IBTC Bank, Mr. Yinka Sanni; Chief Executive Officer, Progress Trust Ltd, Mrs. Helen Titi Lawani; and Chief Executive, Stanbic IBTC Asset Management Limited, Mrs. Bunmi Dayo-Olagunju at a client engagement dinner organised by SIAML in Lagos … recently

Unity Bank Introduces New Product for Employees Unity Bank has introduced a current account productUnity-Max, for employees of organisations in its bid to widen the base of products for financial inclusion targeted at salary earners in corporate organisations, multinational corporations, FMCGs, government parastatals, MDAs as well as SMEs. According to the bank, Unity-

Max was designed to assist various categories of employees with financial planning in form of target savings, investment as well as accessing facilities at concessionary rates. The Product is targeted at fixed income earners, from junior staff to executives, as the account empowers them to access various forms of financing to meet needs even before the

next pay-cheque. For medium to large organisations, Unity-Max accounts also come with a specially designed Verve debit card that can be cobranded with the organisation; the cards can be designed with the identity card and passport photograph of the customer. The product was packaged to cater for all cadres of salary earners from across the seg-

ment in the public and private sector. Part of the initiatives to empower income earners is the flexible conditions for accessing benefits of the product. As a bundle offering, holders of the account are also able to access their account through Unity Bank’s e-business platform such as robust Internet Banking and Unity Mobile to enjoy even greater electronic convenience.

French Expo Targets Nigeria’s Livestock Industry, Agric Devt Crusoe Osagie A french expo scheduled to hold on the 13th and 16th of September, 2016, in Rennes, France is expected to drive investment in the nation’s livestock industry, noting that the fair is also coming on the heels to support the Buhari-led administration to diversify the economy through development of the non-oil sector. According to a statement issued to THISDAY by the Managing Director, Promosalons Nigeria, Mr. Akin Akinbola who doubles as the exclusive official representative and organisers of the fair in Nigeria, said this year’s expo, tagged “Space 2016”, also referred to as Planet Livestock, is ranked as the world’s second largest livestock expo, pointing out that isis a perfect serene atmosphere where participants can come to rub minds and exchange ideas with professionals in the

livestock industry from over 1,450 exhibitors from about 40 countries. According to the report, over 120,000 visitors from over 125 countries worldwide are expected to grace the annual event which would in the long run guarantee highest yield and drive development for livestock businesses in Nigeria. “With its unique and diverse offering, participants are able to build relationships and contacts with a view to increasing their international trade productivity. SPACE is also an excellent avenue through which participants can be able to explore numerous options in order to attain developmental strides in the agricultural sector, which can be achieved,” Akinbola stated. He added that the following sectors of the livestock industry to be covered at the event will include, fish, poultry, rabbit, cattle, sheep, goat as well as full a range of services for:

animal feed/nutrition, livestock equipment, livestock materials (farm handling, transportation, cultivators and related equipment’s and forage harvesting equipment), Genetics, Energy, Livestock effluent treatment, Animal health and Milking). In his words, “This animal production trade show is the perfect avenue for the Nigerian business delegation in agribusiness sector to discover new technologies, new breeds of livestock, new products, new equipment and new ideas being used. For this year’s event, the organizers have named Nigeria as the country of focus and will highlight the latest advances and technological breakthroughs in livestock farming.” He said the Nigerian business delegation will be provided with the perfect serene atmosphere where they can interact, exchange

ideas and contacts with other professionals in the livestock industry from around the world, maintaining that the fair will also avail them the latest technological innovations, presentations in animal genetics, get access to a VIP reception for international visitors and business-to-business meetings. The statement added that the highlight of the event includes a series of farms tours and agro-industrial units specially arranged for the Nigerian business delegation to maximise their experience at the trade show. “As an excellent vector for providing the country’s aim in revolutionising its agricultural sector, SPACE 2016 provides the perfect opportunity and ambience towards developing and providing the resources needed to create jobs and employment opportunities through agriculture thanks to its unique and diverse offering of top quality facilities and services.

WEDNESDAY, AUGUST 24, 2016, • T H I S D AY

BUSINESSWORLD

NEWS

NITDA: Investment in Human Capital Will Cushion Economic Recession Emma Okonji The acting Director General of the National Information Technology Development (NITDA), Dr. Vincent Olatunji has called on the organised private sector to invest more in human capital development in order to empower more Nigerians with technology skills. Olatunji who made the call during his official visit to Sidmach Technologies in Lagos at the weekend, said the initiative to invest in human capital development, would help Nigeria

recover quickly from its present state of economic recession. “Investment in human capital is the way out from our present state of economic recession and there is need for collaboration among businesses on one hand and between government and the private sector on the other hand. Collaboration and partnerships will enhance home grown technology solutions to boost the Nigerian economy,”Olatunji said. He expressed worry over the continued dependent on foreign solutions to address the country’s needs and challenges, explaining

that technology solutions that are successful in other countries may not be successful in Nigeria because of the country’s peculiar nature, hence the need of partnerships to develop home grown technology solutions that will address Nigeria’s peculiarities. He said technology startups in the country have laudable ideas but do not know how to turn those ideas into commercially viable solutions, and that collaboration and partnerships will create a platform for synergies that will result in improved and enhanced solutions that stand the

test do time. Olatunji emphasised the need for the creation of national incubation fund to support technology startups with marketable skills. Managing Director of Sidmach Technologies, Chief Peter Arogundade, commended Olatunji and the NITDA team for the visit. He also commended the management of NITDA for the collaboration and partnerships that existed between NITDA and Sidmach Technologies. According to him, “We cherish our partnership with NITDA. We wish to use this opportunity

to thank the Agency for a number of collaborations and projects such as the e-Agriculture Platform, e-Health Platform, ideas regarding start-ups and invitations by the Agency to our company to partner with her on the annual Gulf Information Technology Exhibition (GITEX).” Arogundade listed some of the notable projects executed by Sidmach Technologies to include: End-to-End Examination Processing for WAEC; e-Curriculum; Integrated Solution for National Youth Service Corps (NYSC), among others.

He said the Nigerian Information Technology (IT) market has great potentials and would become a point of reference across Africa and the world. He also called for the continuous support of NITDA to create policies and opportunities for the growth of indigenous companies. “We assure you that Sidmach will deliver on commitments and projects given to the organisation to execute. We restate our support towards the actualisation of various goals and projects of NITDA,” Arogundade said.

Expert Harps on Impact of Creating Brand Influence Chinazor Megbolu The General Manager, Ipsos, Mr. Steve Spicer has said that creating brand Influence course, has a bigger impact on others. He explained that visionary brands go well beyond selling a product or service. “They are founded on a sense of purpose - or ‘why’ - that establishes stronger emotional connections with people. In addition, new technologies have opened up ways to listen to what consumers want,“he said. Spicer, who made the remark in Lagos recently noted that brands that use the troves of data to their benefit have more relevance than ever before due to the influence in their lives, and in the world, cannot be overstated. On what it takes to build this kind of influence, he said the firm conducted a comprehensive programme of research to measure and rank the most influential brands in Nigeria and around

the globe.“With a wealth of data to draw upon, we have much to share about what brands have influence, and where, why, and how they are trending. There are important lessons to learn for all brands – both big and small”, he said. Spicer further hinted that being influential means having an impact on people’s lives. According to him,“We place a tremendous degree of trust in these brands, and give them the power to guide how we shop, interact, and behave. “Influential brands have aspirational qualities, too. They offer a gateway to a better, more interesting life by giving people the tools to make smart choices. “The Most Influential Brands are important and relevant in the world. Consumers identify with these brands and have an emotional relationship with them. They couldn’t imagine their lives without them. Achieving any of these things is no easy task.”

BRAINSTORMING ON MARITIME SAFETY

L-R: Nigeria’s Technical Adviser/Deputy Alternate Permanent Representative (APR) to International Maritime Organisation (IMO), Anas K Suleman; Snr Oil Analyst-Apex/LNG Mgr of Lloyd’s List Intelligence (LLI), Marie Bates; Alternate Permanent Representative (APR) of Nigeria to IMO, Mr Dikko Bala; Snr Acct Mrg of LLI, Mr Jonathan Fletcher; Head Shipping Development department NIMASA, Mr Akin Akinyosoye and Commercial Dev Director LLI, Mr. Daryl Williamson; during a meeting of officials of Lloyd’s List Intelligence (LLI), APR of Nigeria to IMO and NIMASA in London…recently

SIFAX, AES, Hyundai Launch Vehicle Importation Service Eromosele Abiodun

Dana Partners Kinabuti to Promote Fashion for Youths As part of its continued commitment to improving the lives of youths and girls while providing the platform for their empowerment, Dana Air has partnered Kinabuti Fashion Initiative on Dare2dream season 3. Dare2Dream, which was created in 2014, was described by Dana as one of most anticipated fashion reality shows, offering a platform for young Nigerian girls to develop confidence, talents, values and principles while opening doors for them to build a career in fashion. Speaking on the initiative, the Accountable Manager of Dana Air, Mr. Obi Mbanuzuo, said:“We are pleased to support Dare2dream again this year. As a responsible corporate citizen, it’s always fulfilling for us to inspire Nigerian youths, to believe in their dreams and never relent in achieving them. Commenting further, Obi said: we actually believe in the popular saying, that if you train a child, particularly a girl child; and give her the right value, you will be

training a generation. Kinabuti Co-founder, Caterina Bortolussi, while speaking at the press conference to officially kickoff season 3, said “Six girls will be selected from three universities and they will fly to Lagos by Dana Air, the smartest way to fly, for the boot camp. For a period of 10 days, the girls will be challenged, trained, mentored on various aspects of fashion, modeling and other creative activities. In the course of this, some of them would be eliminated based on their skills and overall performances. The experience promises to be funfilled, challenging, empowering and rewarding.’’ Speaking further, Caterina noted that the auditions will be across University of Port Harcourt, University of Calabar and University of Lagos,“casting aspiring female models with extra talent, but also selecting aspiring designers and performers to showcase their abilities at the grand finale, scheduled for Sunday 11th September.

Nigerians who want to import vehicles into the country in a fast and efficient way can now do so as SIFAX Group has launched its one-stop-shop vehicle importation service. The development, the company said, was aimed at transforming the RoRO industry in Lagos into a model in Africa. The vehicle importation service is a joint-venture partnership involving SIFAX Group, foremost international shipping agent, Auto Export Shipping (AES) and Hyundai Glovis, the logistics arm of Hyundai KIA Automotive Group. Speaking at the formal reception of the first vessel, MV Glovis Supreme, at the Ports & Cargo Handling Services Limited terminal,Tin Can Island Port, Lagos, Group Managing Director, SIFAX Group, Mr. John Jenkins said the RORO service was part of the business expansion strategy of the company, adding that its experience in handling such service in times past coupled with its customer-focused philosophy have positioned it well to make a success of the service. He said:“SIFAX Group has a policy of exploring various opportunities to deepen our impact in the country’s economy. This

partnership is designed to bring innovation, excellent service and unparalleled customer satisfaction to the RORO business in the country. Expansion of our service base is one of the key elements of SIFAX Group business strategy for 2016. “The service will be a one-stop shop one which will include port terminal services, stevedoring, and ship agency and off-dock services. I am happy to say that our partners, agents and consignees are in for a swell time due to the volume of preparations that has gone into this new business.” On his part, acting Managing Director, Ports & Cargo Handling Services Limited, Mohammed Bulangu noted that the terminal, a multi-purpose one, under the terms of the concession agreement can handle general cargo, container and RORO vessels. “Over the years, we have come to do more of containerised cargo, even though this is a multipurpose terminal. However, the reality of the current economic situation, the need to increase revenue base and business volume, employ more staff and deliver array of top-notch services, among others, have compelled us to resume our RORO services.

CrestAgro to Invest N20bn in Cassava Farming, Processing in Kogi Yekini Jimoh in Lokoja CrestAgro Products Nigeria Limited is to invest about N20billion in the production and processing of Cassava in Kogi State. The Managing Director of the company, Mr. Dele Ogunlade disclosed this in Lokoja on Monday while at a media briefing. According to him, the company had already acquired 13,000 hectares of land from Kogi State Government for its cassava farming project, adding that a factory for the processing of the tubers into food grade cassava starch had been established at Achabo village in Koton-Karfe Local Government while the farm is located on Obajana Road in Lokoja local council area. He said the company was trying to mobilise and sensitise stakeholders and farmers on cassava farming in the state as the cassava requirement of the factory would be enormous. “We intend to start with 20,000 Metric Tons of cassava starch. This is expected to rise and increase over the years and the plant is segmented into four levels of installation. “By the time we hit the limit

of the first installation, then, we will extend by another level of expansion until we reach our satisfactory level. The requirement for the first phase alone is about 100,000 metric tons of cassava per year. Ogunlade said that about 1,000 hectares out of the 13,000 land acquired for farming of cassava by the company had been cleared while installation of the plant would commenced soon adding that Kogi was chosen because of its“very good agricultural land” with cassava as the prime product. Also speaking, the Chief Operations Officer of the company, Mr. Leonard Ebute, said Cardinal Stone Partners established the company in 2013 to assume the position of Africa’s leading supplier of food grade cassava starch. According to him, the company had had advanced discussions with Federal Ministry of Agriculture and Rural Development on the need for it to join Cargill as additional anchor for the Staple Crops Processing Zone (SCPZ) in Kogi. Ebute said that the company intended to surpass the 2,000 cassava farm in Brazil, which remains the largest in the world as at today.

T H I S D AY • WEDNESDAY, AUGUST 24, 2016

EDUCATION Meeting Approved Standard for Public Exams, Admissions Stakeholders in the education sector, who recently converged for the maiden summit of the Education Writers’ Association of Nigeria, made far-reaching recommendations on how to ensure that external examinationsandadmissionsconductedinthecountrymeetapprovedstandardsandpublicconfidence. Funmi Ogundare reports Representatives of the Academic Staff Union of Universities (ASUU), the Academic Staff Union of Polytechnics (ASUP), education experts, including a former Minister of Education, Prof. Chinwe Obaji; Prof. Peter Okebukola, among other stakeholders, converge on the Julius Berger Auditorium, University of Lagos (UNILAG) for the maiden summit of the Education Writers’ Association of Nigeria (EWAN), a body of education reporters from the print, electronic and online platforms. With the theme, ‘Integrity of Public Examinations and Admissions in Nigeria’, the summit was chaired by the Secretary of the Association of Vice-Chancellors of Nigerian Universities (AVCNU), Prof. Michael Faborode. It saw participants urging the federal government to reverse the suspension of the post Unified Tertiary Matriculation Examination (post-UTME) screening; to restructure the entrance examinations by the institutions, as well as the implementation of the 2002 National Summit on Higher Education. The summit also appealed to the federal government to re-introduce the Higher School Certificate programme, as part of efforts to bring back the integrity of public examinations. The experts called on the Minister of Education, Mallam Adamu Adamu to consult stakeholders within the system before taking positions on key policies. In his remarks, the Chairman of the association, Mr. Tubosun Ogundare, said the theme is apt as it will bring about the positive changes in the sector, which has suffered a great deal, adding that any damage that happens to the sector will automatically have an effect on others. “As journalists, it is not enough to write alone and go to bed, impacting the society requires action and that is what we are trying to achieve as part of our social responsibility initiative. We believe that now is the right time to cause positive change in the sector.” He described the recent confusion between the federal government and the Joint Admissions and Matriculation Board (JAMB) over what admission policy should be adopted for candidates seeking admission into tertiary institutions as worrisome and detrimental to the sector. “As a nation, we experience too often, policy somersault with successive governments. Our political leaders play politics with almost everything without considering the consequences of such actions, especially on the masses.” The EWAN chairman expressed concern that many universities, polytechnics and colleges of education are not clear about the policy to be adopted in their admission processes, adding that the situation is even worse at the secondary school level, as many graduates have good Senior School Certificate Examination (SSCE) results that they cannot defend because they are products of cheats. “While the West African Examinations Council (WAEC) usually records mass failure in its exams, the National Examinations Council (NECO) results are always above average even though they both have the same students, syllabus, teachers and operating under the same environment. “The situation is further compounded with the quota system that ensures that only one section of the country benefits from the policy, rather than merit for admission into federal schools.” The Vice-Chancellor of UNILAG, Prof. Rahamon Bello kicked against the suspension of the post-UTME conducted by individual institutions and recommended regulation

L-R: The representative of the Vice-Chancellor, Lagos State University, Prof. Olumuyiwa Noah; a former Executive Secretary, National Universities Commission, Prof. Peter Okebukola; the Vice-Chancellor, University of Lagos, Prof. Rahamon Bello; and a former Minister of Education, Prof. Chinwe Obaji, at the maiden summit of the Education Writers’ Association of Nigeria (EWAN), held at UNILAG… recently

instead of outright cancellation. He said the integrity of public examination is key if the country must achieve qualitative education. “If we are talking about quality assurance, the inputs into the school matter because the products will be affected. We are in support of the discuss today, which is very germane. A former Executive Secretary of the National Universities Commission (NUC), Prof. Peter Okebukola, said a way of enhancing the integrity of public examination is to ensure that efforts are made to reduce poverty in the land; step up the anti-corruption war; sanction breeches to examination codes of ethics; take steps to restore cherished societal values; and improved funding to WAEC, NECO and JAMB. He emphasised on stimulants of low level of examination integrity, saying, “there are several drivers of low level of examination integrity, first is the weak preparation of students for an examination. In turn, this is driven by inadequate coverage of the examination syllabus, teacher incompetence and facilities inadequacies. If a student is prepared by the school for 10 topics out of 30 in the examination syllabus for a subject, chances are high that the student will want to cheat to pass the examination. “The second driver is the erosion of cherished societal values such as honesty and diligence. It is the lack of honesty that propels the examiners to leak question papers for their children and students to cheat during examination. Lack of diligence leads to poor study habits and weak preparation for examinations since the ranks of students who are dishonest and lazy are growing, little wonder examination

malpractice continues to be a challenge in the Nigerian school system.” According to him, “the third is the inadequacies in the budget of the examination bodies, which translate into lowering the effectiveness and efficiency, which in turn impacts negatively on examination integrity. The forth is endemic corruption which has metatasised like cancer in all aspects of our lives including the lives of those who are concerned with public examinations, especially officials, teachers, students and parents.” Okebukola, who was the keynote speaker at the programme, traced the foundation of the post-UTME to the decline in the quality of admission seekers to higher institutions in the past, and suggested that the most important thing is to restructure the post-UTME and not to scrap it. “Clearly, in the last eight years, the management of many universities have adulterated the post-UTME process, turning it into huge revenue-making business, this is why I endorsed the ministerial suspension about a month ago, a suspension that should be lifted as soon as the universities get their act right on the process.” The former executive secretary called for the re-introduction of the Higher School Certificate (HSC) to provide an opportunity for candidates who are unable to pass SSCE and UTME. “Admitting beyond programme carrying capacity is a recipe for poor quality products. NUC should continue to apply sanctions to breeches of carrying capacity in institutions.” In her presentation, Obaji regretted that the initiative she introduced as a response to

the loss of integrity in public examinations, including the UTME and the West African Senior School Certificate Examination (WASSCE), among others, has been rubbished by the institutions by jettisoning the original idea behind it. The former minister of education said Nigerians must believe in themselves and be passionate to move the country forward so as to achieve greater heights. According to her, it is wnot all about recommending solutions to the examination malpractice but by the commitment to the implementation of the recommendations. “The government’s passion to get the education sector sanitised will propel the implementation of the recommendations on how to improve the integrity of the examinations. No country ever moves forward with the quantity but quality of graduates produced and we need to get this right. We can get it right if we provide the necessary facilities in our school system to attract foreign students and lecturers,” she said. The President of ASUU, Prof. Biodun Ogunyemi, reiterated the union’s stance that it is the primary responsibility of the senate of each university to admit and graduate students for their respective institutions, adding that ASUU would continue to contest the suspension of the post-UTME and that the fees charged by institutions should be regulated. “Candidates must be subjected to postUTME; we are interested in the students’ entry into the university not only with integrity, but also interested in the integrity of their graduation.”

T H I S D AY • WEDNESDAY, AUGUST 24, 2016

EDUCATION

School Feeding Remains Osun’s Top Policy, Says Deputy Governor Yinka Kolawole in Osogbo The school feeding and health programme has remained one of the top policies and programmes adopted by the Osun State Government for the development of agriculture and food production in the state. The policy has in turn generated jobs and economic empowerment for the unemployed while the small and medium scale enterprises have been encouraged. Though the initial objectives of the programme were to increase school enrollment, encourage attendance and completion rate, as well as enhance pupils’ health in all public elementary and primary schools across the state, farmers appeared to be the major beneficiaries of the programme through massive production of food and ready market for their products. It has also boosted the income of local farmers thus poverty index has reduced as all goods are sourced locally. On a weekly basis, about 40 herds of cattle; 10,000 crates of eggs; 20,000 chickens, over 400 metric tonnes of fish are needed to feed the pupils. About 500 youths were trained and empowered for mass fish production under Osun Fisheries Out-Growers Production Scheme (OFOPS). The scheme supplies over 400 metric tonnes of fish regularly for the school feeding, while the cultivation of cocoyam through a cocoyam rebirth programme was also encouraged. At a start, over 1,000 cocoyam farmers (selected across the

nine federal constituencies in the state) were trained and assisted to mass cultivate pink cocoyam for inclusion in the school feeding menu. Today, the number has risen to over 15,000, as more women and young adults have taken to farming; cultivating cocoyam, vegetables, tomatoes and melon. The programme which started in 2006 in the state is said to have become a success story and an irreproachable model of reference to many states and countries as pupils from kindergarten to primary four in public elementary schools in the state are fed daily with balanced foods that are rich in protein, with fish, meat, vegetables and fruits while they are de-wormed twice a year. A comprehensive menu was drawn up by education stakeholders in the state which among other things would help to develop the brain capacities of the growing children in their formative years. It was resolved that a well fed pupil is likely to be healthy and more attentive in class than those on empty stomach. It was further stressed that functional education cannot be sustained on empty stomach, malnutrition or food for the sake of food hampers the development of the brains of school age children. Addressing visiting delegates from 35 states, including the Federal Capital Territory (FCT) on the school feeding programme, the Deputy Governor, who doubles as the Commissioner for Education, Mrs. Titilayo Laoye-Tomori, said the programme started in the state in 2006 as one of the 13

ANSSIR Appeals to FG to Settle Unpaid Stipends Ugo Aliogo and Chidinma Okonkwo The Association of Scholarship Students in Russia (ANSSIR) has appealed to the Federal Scholarship Board (FSB) to pay up the monthly stipends owned Nigeria students studying in Russia, saying that the 10 months allowance has been delayed for long. The President of the association, Jenny Onyemachi, who made the appeal in a telephone conversation with THISDAY, said since October 2015, the students have been experiencing incessant delays in the payment of their stipends, “they only paid part of last year till October; therefore from November 2015 to August 2016, we have not received any payment.” Onyemachi stated that when she met with members of the FSB, it was discovered that there was no money available, adding that the condition of the students in Russia is unpleasant, “I wrote a letter to the minister of education and submitted to the personal assistant, but nothing meaningful has been

done.” She regretted that some Nigerian students borrow from students from other countries in order to survive, stressing that some cannot afford to feed three times daily and manage whatever food that is given to them by others. “This is the toughest time for us. We don’t have direct access to the scholarship board in Russia, besides they don’t fund our stipends. The money comes from the scholarship board in Nigeria; the Russian government pays the tuition fees, while Nigerian government pays for upkeep of the students. “Students who graduated are yet to get their tickets back home. These students may be deported if nothing is done positively by the Nigerian Embassy in Moscow to address the issue.” The Vice-President, Faith Tosin Olapade, said the students have sent videos and articles on the issue to the federal government and the Embassy in Moscow, adding that yearly they fight for their stipends. “Normally, we get it when the budget process is almost complete.”

pilot states. She explained that the Aregbesola administration extended the beneficiaries of the programme in 2012 to primary four and renamed it Osun School Feeding and Health Programme (O-Meals), adding that the real impact of the programme cuts across many sectors. Laoye-Tomori maintained that the free meals in public schools has led to a significant increase in enrollment from 155,318 to 194,253 after four weeks of implementation,

adding that currently over 252,000 pupils are being fed and they now remain in school till completion. “According to the Federal Bureau of Statistics Report of 2013, Osun has the highest primary school enrollment rate in the country and the lowest number of children of school age being out of school. She added that through the programme, the state was able to capture the actual figure of school pupils being fed under the programme costing the government N18 million per

week. She said a total of 3,007 food vendors were engaged, trained, kitted with uniforms and made to undergo medical screening, adding that the vendors were given loans for cooking utensils and organised into 124 functional cooperative investment and credit societies for effective administrative purposes. The deputy governor noted that the success of the programme has attracted accolades from local and international fora. She said in 2014, the

British Parliament invited the governor to talk on the implementation of the school feeding programme and was commended by the parliament. She explained that commendation also came in from the government of South Africa which sponsored her visit to the country. While applauding the delegates for the visit to have an insight into the workings of the school feeding programme, Laoye-Tomori admonished them to fashion out what will work for their respective states and people.

Some beneficiaries of the school feeding programme of the Osun State Government

Don Seeks More Empowerment, Recognition for more visible to the outside Counsellors world.

Uchechukwu Nnaike

A Professor of Counselling Psychology at the University of Benin, Edo State, Mrs. Elizabeth Omotunde Egbochuku, has stressed the need for curriculum reform for the education and training of counsellors to strengthen their capacity to function effectively in the emerging cognate occupational opportunities in Nigerian society. Egbochuku, a Professor of Guidance and Counselling since 2009, also expressed concern that the Counselling Association of Nigeria (CASSON) does not have a legal backing as an association, this she said should be rectified. The university don who is one of the presidential candidates for this year’s election of CASSON, which will hold tomorrow as part of the association’s conference, promised that if elected, she would galvanise the association to work towards the actualisation of a legal status for CASSON. “The legislation for the professionalisation of

Egbochuku

our great CASSON shall be vigorously pursued at the House of Assembly and at the state Houses of Assembly levels to a conclusive end.” She promised to collaborate with relevant agencies of government to ensure curriculum reform for the education and training of counsellors that would also strengthen the capacity to function effectively in the emerging cognate occupational opportunities in the society, as well as to make CASSON a more visible professional association in the society that lends a

voice on issues that touch on its cognate occupational jurisdiction. Egbochuku, who noted that there are many people who are not fully trained claiming to be counsellors, said to curb quackery, her administration would work to create Counsellors’ Registration Council to regulate professional practices, as counsellors need to be professionally licensed to practice. “Upon the realisation of the professionalisation of CASSON, the certification and licensure programme will be pursued and conclusively implemented.” She also promised to collaborate with the government to create counselling units in all government agencies and institutions; liaise with government agencies to streamline and diversify quality counsellor education programme in the country; evolve a programme of continuous professional education for counsellors; work for a research and knowledge based profession; as well as to make CASSON

To members of the association, she said with her as the president and Prof. Muhammad Yakasai as Vice-President, the executive council would explore ways of raising funds to organize skills acquisition (particularly for new skills, techniques and emerging issues) training not only at pre-conferences but in-between annual conferences. “The CASSON secretariat building, which is at the foundation level of construction, will be pursued with a view to completing it within the mandate period given to me as president of CASSON, making judicious use of the funds meant for it.” While describing counselling as a type of talking therapy that allows a person to talk about his/ her problems and feelings in a confidential and dependable environment, she said humans need someone to help in finding solution to problems and therefore avoid tensions and conflicts. “The need for counselling is therefore paramount.”

T H I S D AY • WEDNESDAY, AUGUST 24, 2016

EDUCATION

Grace School Denies Bullying Allegation Funmi Ogundare The management of Grace School, Gbagada, Lagos, has expressed disappointment over a recent publication on the alleged bullying of one of its students, Miss Ebunoluwa Adegboyega, who according to eye witness, fell while running out of the dining room on April 15. According to the report, on April 15, 2016, during lunch break, someone shoved Adegboyega violently from the back while she stood outside the school canteen, she fell face down and the impact of her fall crushed both her legs and bruised her skin. Consequently, she suffered fractures on both legs. Adegboyega, who also narrated her side of the story in the report, said the school did not try to find out who pushed her. “On that day, I went to the dining hall to eat during lunch break in my school. I came out with three people in my class, their names are Jumaima, Grace and Sophia. I talked to them a little then they started moving on their own. When I wanted to take my own step, someone came from the back and pushed me. I didn’t see the person that pushed me; my three classmates didn’t see the person that pushed me. We were all backing the person. “I fell on my face. Then I started calling for help. One boy, a JS 2 student, came to carry me to the clinic. In the clinic, the nurse put Savlon (an antiseptic) and bandage on my left leg. I was bleeding

from that leg and a wound on my right leg. I was crying because it was very painful. “Then she said she would fix my bone but I had a fracture and she could not fix my bone. Then she put bandage on my leg. I could not leave the clinic on my own. I could not walk on my legs.” Her mother, Dr. Bande, a gynecologist had described the issue as an act of wickedness, saying that when she was called to come and see her daughter in school, she challenged the Principal, Mr. Ronald Cilliers, who was trying to cover up for the school. The school Administrator, Mrs. Olatokunbo Edun, who briefed journalists on the incident, said there were other children on the field and when they were questioned, none of them saw anybody pushed her. “The student was attended to and given treatment, as she was taken to the hospital. The school also made concrete plan to ensure that while having the injury, she was properly taken care of in terms of her academics. A car and a driver were provided for her, for ease of transportation.” She added that the management was also trying to reach a settlement before the recent publication. “The publication has put us in a bad light because it was a misrepresentation of what actually happened but the school has never defaulted on its core responsibilities of total commitment to the wellbeing of its students.”

Edun said it was unfortunate that one of the parents could take the matter to the extent of misrepresenting the facts in the public domain. “We find this entirely embarrassing and uncalled for,” she said, adding that every student signs an anti-bully document and the case in view was not a case of bullying. “The school does not and will not condone bullying. We know our responsibilities towards each child and have never been found wanting. What was reported earlier is not a true representation of the school. Though what happened is an isolated case, but even at that the school did not take it lightly and that was the reason we set machinery in motion to unravel the mystery.” Asked how parents can prevent bullying of their children, the administrator said, “we should be able to tell our children that if anyone touches them in a particular way, the child should report immediately because many of these child abusers are really close to the children, you should make sure you are close to your children, you shouldn’t be too strict.” The PTA Chairman, Mr. Steve Onyema, who said he has been a parent in the school for four years, regretted that the victim’s mother decided to consult a lawyer to handle the issue. “Everything the school has done is in order. What happened to the girl may have been an accident. We need to approach this thing well despite all the challenges.”

Are You Seeking to Be More Flexible, Versatile? Then you might want to search no further than into the foods around you. It’s amazing how what we are “looking for in Sokoto is in our sokoto (Yoruba word for trousers)”. God in nature has placed a sympathetic, magnanimous, flexible, charitable, versatile and helpful nutrient in certain foods. Reliable scientific literature suggests that vitamin B5 appears to play these nurturing roles. Two other names for this B class vitamin are- Pantothenic Acid and Pantothenate. Vitamin B5 is a nutrient contained in a vast variety of plant and animal food sources. Even vegetarians and people with certain food preferences and restrictions can be sure to get in vitamin B5. Vitamin B5 is also available as an independent food supplement as well as in combination with other vitamin B complex supplements. Good food sources of vitamin B5 include: cabbage, soybeans, salmon, shellfish, avocado, egg yolk, chicken, organ meats such as liver and kidney, yeast, broccoli, kale, yoghurt, sunflower seeds, corn, milk, legumes, cauliflower, split beans, lobster, white potatoes, peanuts, lentils, sweet potato, tomato and whole grain cereals. Vitamin B5 is being said to provide some relief to people living with a wide range of health issues which are chronic as well as acute in nature. For example people are known to take pantothenic acid to relieve: premenstrual syndrome discomforts, asthma, irritability, depression, headache, yeast infections, respiratory disorder, hyperactivity and ADHD, celiac disease, dandruff, trouble with sleeping at night (insomnia), skin disorders, osteoarthritis, Parkinson’s disease, multiple sclerosis, muscular dystrophy low blood sugar and low blood pressure, as well as for wound healing. Like other B vitamins, vitamin B5 supports the other B vitamins to enable your body synthesize and metabolize carbohydrates, fats and proteins. It helps the body to better process vitamin B2 (riboflavin). Like vitamin B3, vitamin B5 is said to assist in lowering cholesterol and useful in the treatment of diabetes. Other attributes ascribed to vitamin B5 are: the creation of sex hormones, the creation of red blood cells and stress-related hormones, as well as the maintenance of a healthy gut. Vitamin B5 is water soluble. It dissolves in water, is carried around the body by the blood, performs its duties at the cell level and its surplus excreted in your urine. Are you already widening your food choices using my previous food lists? Omoru writes from the UK

Ambode Approves N15.5m for Student Entrepreneurs LEARNING BEYOND THE CLASSROOM

Students from SouthCreek Study Centre , during their visit to THISDAY Newspapers corporate head office in Apapa, Lagos... recently dan ukana

‘Education is Free, Mandatory for Less Privileged in Bauchi’ Segun Awofadeji in Bauchi The Bauchi State Governor, Mohammed Abubakar has announced that his administration will soon embark on massive construction of schools across the state to make quality education accessible to the less privileged members of the society. He said the move was informed by the fact that education is key to the development of any nation, adding that his administration is determined to make education free and mandatory for orphans, vulnerable and the internally displaced children resident in the state. The governor, who said this

when the Commissioner-incharge of Political Affairs at the African Union Commission, Dr. Laraba Abdullahi paid him a courtesy visit, called on the commission to support the state government towards addressing the problems associated with the IDPS. “Bauchi has been experiencing the influx of internally displaced persons long before the issue of insurgency in the north-eastern region, which necessitated the springing up of many new settlements in some parts of the state. “In view of that the IDPs have overstretched the existing facilities, especially schools, hospitals and water supply,” he said and

stressed the need for nongovernmental organisations, donor and other international agencies to assist the state. “Reconstruction of the infrastructure demolished as a result of the insurgency is paramount, but addressing the root causes of the Boko Haram is equally very important.” In his remarks, Abdullahi said she visited to introduce herself to the governor and the functions of her office at the AU, which include playing roles in the successful conduct of the 2015 elections in Nigeria. Abdullahi emphasised that the office is mandated to promote adherence to the

rule of law among member nations; respect for human rights and justice, humanitarian affairs including that affecting IDPs, public service, governmental affairs, local government administration; and strengthening democracy among the 54 member states of the AU. Before being appointed a commissioner-in-charge of political matters at the African Union, Abdullahi was a lecturer at the Abubakar Tafawa Balewa University (ATBU), a commissioner in the state executive council and later appointed ambassador. She was accompanied by the vice-chancellor of ATBU and her husband.

The Lagos State Governor, Akinwunmi Ambode, has approved a total of N15.5 million in seed funding and grants for final year students of the state-owned higher institutions enrolled in the Ready Set Work (RSW) programme. The Ready Set Work is an entrepreneurship and employability training programme for final year students of tertiary institutions in the state, aimed at preparing them for economic productivity as value-creating employees or employers of labour. The initiative, which began in June, involved 500 promising final year students of the state University (LASU), Polytechnic (LASPOTECH) and the state College of Health Technology (LASCOHET), who enrolled in a rigorous curriculum either in the employability or the entrepreneurship track. At the end of the programme, over 90 top performing students in the employability track will be placed on six-month internship positions with organisations like PwC, SystemSpecs, FCMB, GTBank, Access Bank, Total,

Jobberman, Stutern, among others. With Ambode’s recent financial commitment to the programme, up to 80 students in the entrepreneurship track will also be opportune to partake in three to six-month apprenticeships where they can learn the tricks of the trade, understand and develop processes for various business functions, and build a network of vendors, industry peers and mentors. Reacting to the development, the Special Adviser to the Governor on Education, Mr. Obafela Bank-Olemoh said, “our focus from the onset has been providing students in Lagos with the tools, knowledge and know-how to become effective employees or job creators. “We have already secured 90 internship slots for students in the employability track of the programme and we realised that students in the entrepreneurship track could also benefit from the experience in a structured, supervised work setting, where they can learn the rudiments of running a business effectively.”

T H I S D AY • WEDNESDAY, AUGUST 24, 2016

EDUCATION

Stop Foisting Unpopular Leadership on Members, UNILORIN ASUU Tells National Body Hammed Shittu in Ilorin The University of Ilorin (UNILORIN) chapter of the Academic Staff Union of Universities (ASUU) on Monday warned the National Executive Council (NEC) of the union against further foisting its unpopular leadership on members of the university so as to improve academic excellence of the students and welfare of its members. The union in a statement signed by its Chairman, Dr. Usman AbdulRaheem, also berated the ASUU NEC over its recent comment against the appointment of the immediate past Vice-Chancellor of the UNILORIN, Professor Ish’aq

Oloyede as the Registrar of the Joint Admissions and Matriculation Board (JAMB). The statement read in parts: “What the ASUU NEC is lamenting is its serial failure to foist unpopular leadership on the branch. Majority of our members had insisted and are still insisting that ASUU NEC will continue to fail woefully and sulk until it embraces the elementary democratic principles in the election of leadership. “We advise the executive of the union to retrace its path back to the dreams of our founding fathers- Mahmud Tukur, late Festus Iyayi and Attahiru Jega; embrace democratic norms and meritocracy.”

“We consider the recent negative observation by ASUU-NEC, as published in some sections of the media, on Oloyede’s well deserving appointment, as baseless, reckless and ill-conceived. “It is yet another evidence of the meddlesomeness of a union that has lost track of the laid down objectives of its cherished founding fathers. Otherwise, what kind of reasoning will produce such an outburst over a well and widely acknowledged appointment!” The union added that, “The purging of UNILORIN of anarchy, academic idiocy and laziness, which the ASUU NEC is grieving over, has

yielded positive result in terms of academic productivity, integrity and stable calendar in the university. “These have been widely acclaimed and appreciated by Nigerians and non-Nigerians. This feat has become the envy and goal of many higher institutions in Nigeria. Oloyede‘s achievements and antecedents in other areas are iconic, intimidating, as well as outstanding. His records are impeccable; he stands tall. Therefore, he is not only suitable and fit for this current position, but even for higher challenges at national and international levels.” The statement added: “The ASUU NEC’s directionless and

selective attention of recent is worrisome. For example, when due process was being trampled upon in the selection of a new vice-chancellor in OAU, ASUU looked away because its preferred candidate was favoured; the same with federal government’s attempt to violate university autonomy through its directive on postUTME. “The union was apparently jerked into consciousness in order to issue a belated reaction and the union would rather go on an excursion to organise a symposium on Western Sahara, or advocate socialist governance in Nigeria now! We know the national ASUU has its eyes on our

check-off dues, which they are painfully missing. “The check-off is a decision of our congress and so, it is legitimate. It has been, over the years, well managed and accounted for. The evidence is obvious, with secretariat, shopping complex and student hostel accommodation to show for it. “It is therefore ridiculous and scandalous of ASUU-NEC to misinform the public that UNILORIN branch of the union is not functioning and on the contrary, the branch is virile, focused and effective by every definition of labour unionism.” The union therefore congratulated Oloyede on his well-deserved appointment.

ASUU Bemoans FG’s Non-implementation of 2013 Agreement Segun Awofadeji in Bauchi The Academic Staff Union of Universities (ASUU) has expressed concern over the federal government’s failure to implement the agreement reached in 2013 between both parties for the rehabilitation of decaying infrastructure in public universities between 2013 and 2019. Under the 2013 FGN/ASUU agreement, the federal government is required to provide N1.2 trillion with an annual disbursement of N220 billion to redeem the agreement already reached. The Bauchi Zone of the union that comprises ATBU, UNIJOS, Bauchi and Gombe State Universities, and Federal University, Kashere, recalled that the federal government has since 2013 when it started implementing the agreement with N200 billion, failed to release any other amount for the subsequent years. The zone led by Professor Nanmwa Voncir, said in a press conference in Bauchi that the government has failed to release the 2014, 2015, and 2016 tranches of the 2013 agreement. “As though to add salt to injury, beginning from December 2015 to date, public universities have experienced drastic reduction in their personnel, overhead and capital grants with dire consequences.” Voncir explained that many universities now pay fraction of salaries or are out rightly unable to pay salaries at the end of every month, while state universities hardly receive subventions from their state governments with consequences that many owe staff up to six months salaries. He regretted that in addition to the cash squeeze of the universities, the federal government shut all staff schools and sacked all staff with no money to provide electricity, water, stationeries, chemicals and supplies needed for the smooth operation of the institutions. According to him, the renegotiation of FGN/ASUU Agreement 2009 provides that

the agreement shall be reviewed every three years, but since 2012 when the agreement was due for review, the government has failed to set up its negotiating team, despite repeated requests by ASUU. He stated that other issues affecting the smooth running of the universities outside the implementation of the 2009 agreement have cropped up and which have serious consequences on the smooth operations of the universities. Voncir listed some of the issues which the union rejected and called on the government to reverse as Treasury Single Account (TSA), budgetary allocation to education, and removal and appointment of vice-chancellors in the new federal universities. On TSA, ASUU said the policy has virtually strangled the universities, as they have difficulties in accessing budgeted funds, and that it is incompatible with university autonomy, stressing that universities should be exempted from its operation. He also recalled that under the 2009 agreement, government should increase its budgetary allocation to the education sector to meet up with the UNESCO benchmark of 26 per cent, whereas allocation to the sector is progressively decreasing. He noted that the yearly allocation to the sector is 2014 -12 per cent, 2015- 11 per cent, and 2016- 8 per cent, saying that all serious economies of the world are knowledge-driven, but Nigeria drives its economy by sheer whims and caprices of politicians in accordance to their perceived primordial sentiments. On the removal and appointment of vice-chancellors, ASUU said the action by the federal government is contrary to any known rule governing universities in the country, adding that by law only governing councils appoint vice-chancellors. Voncir insisted that governing councils of universities be allowed to follow due process and appoint vice-chancellors, stating that anything short of that is unacceptable to the union.

FAREWELL

L-R:The HeadTeacher, Agidingbi Primary School, Ikeja, Mrs. F.B Oyetade; a member of the Nigeria Union of Teachers (NUT) representing Ikeja District, Alhaji Hassan Akinfoye; the outgoing Assistant Manager of Agidingbi Primary School, Mrs. Modupeola Afuye; Education Secretary, Ikeja District, Alhaja Bolanle Shittu; and the NUT Chairman, Ikeja Branch, Mr. Alase Adekunle, during Afuye’s pulling out service/retirement in Lagos... recently dan ukana

Pursue Education, Entrepreneurship to Curb Poverty, Youths Told Uchechukwu Nnaike In the face of the current harsh economic situation in the country, youths have been advised to embrace education and entrepreneurship to eradicate poverty. Some of the experts, who were facilitators at the recent youth forum organised by RISE Networks as part of the Nigerian Commemoration of the United Nations International Youths Day 2016, dwelt on the role of youths in tackling the challenge of massive poverty in the country. Speaking on the theme of the event, ‘The Road to 2030: Eradicating Poverty and Achieving Sustainable Production and Consumption’, the Chairman of the occasion, Chief Emeka Anyaoku, a former Secretary General of the Commonwealth, said if the country is to successfully reduce the current high level of poverty, youths must play an active role in three areas of politics, including governance; social change, including change in societal values and ethics; and economic activities, especially

entrepreneurship. In politics, he urged the youths to mobilise themselves and channel some of their youthful enthusiasm and activism into clamouring for the restructuring of the country’s governance architecture in order to realise a truer federalism that will give the country greater political stability and faster socio-economic development. Anyaoku regretted that the Nigerian society in its present state is in great need for social change, as corruption pervades all levels of society, starting from examination malpractice to bribery and seeking for gratification before performance of one’s obligatory duties to outright embezzlement and stealing of public and private funds. He therefore urged the youths as powerful agents of positive change to be in the vanguard of a campaign for the restoration of the societal values and ethics that guided people’s behavior in the past. In terms of entrepreneurship, he noted that the massive poverty that exists in the land today is closely linked to the unacceptable level

of youth unemployment which he described as a disaster waiting to happen to the fabric of the society. “To effectively address the challenge of youth unemployment I believe to progress towards poverty eradication now and as we move to 2030, our youths must embrace entrepreneurship; there are I believe vast opportunities to be tapped in the sphere of agriculture and agro-based industries and also in small and medium scale manufacturing of the utilities that we hitherto randomly import.” He urged RISE to explore with institutions like the Central Bank of Nigeria and the Bank of Industry, as well as private foundations in the country that had indicated their willingness to assist the development of small and medium scale enterprises. In her remarks, the Director, Legal, Public Affairs and Communications, Nigerian Bottling Company Ltd, Mrs. Sade Morgan, stressed that for youths to be empowered to play the role, they need education.

“They need role models among Individuals, governments and companies to mirror what sustainable consumption entails and how to increase the eco-efficiency of consumption of products, minimise waste and pollution to achieve equitable socio-economic development.” She said youth development is one of the focal areas of the company’s corporate social responsibility framework among water stewardship and women empowerment; this she said informed the collaboration with RISE Network to mark the day to share the importance of education in developing the country. “NBC recognises that the future will be shaped by today’s young people so, NBC gives special attention to providing opportunities for these youths between the ages of 5-35 to realise their full potential.” Morgan said the company’s intervention in the nursery and primary school level is largely in the provision of educational infrastructure and back-to-school materials and support of annual inter-house sports/fun days.

38 40

CITYSTRINGS CITYSTRINGS

T H I S D AY • MONDAY, AUGUST 22, 2016 WEDNESDAY, AUGUST 24, 2016, • T H I S D AY

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

An Illicit Affair

Chiemelie Ezeobi writes on landlords at Ibadan and Abeokuta Streets in Ilasa, who diverted diesel to their domestic wells, running a thriving illegal oil trade before the syndicate was smashed by the Lagos State Police Command

L-R: Lagos CP Fatai Owoseni; RRS Commander, ACP Olatunji Disu; DPO Ilasa, SP Oriyomi Oluwasanni and Area D Commander, ACP Gyadiayadi Salisu, at one of the oil wells in Ilasa

t was indeed a coded affair where the actors conducted illegal oil sales from the confines of their compounds at Abeokuta and Ibadan Streets, suburbs at the Ilasamaja area of Lagos, albeit illegally. Turning the wells dug for water into storage for diesel products, they sold this illegally to some unscrupulous persons under the cover of darkness. That went on for a long time until recently. It was on a Thursday night, August 13, 2016, that their once well-run business crumbled due to the due diligence of police operatives in the Ilasa area of the state. In a crime bursting format, the Lagos State Police Command, smashed the syndicate at Ilasa and arrested four persons in connection with the crime. The syndicate, who are residents of the densely populated suburb, were exposed by the eagle eye of the Divisional Police Officer of Ilasa, Oriyomi Oluwasanni, a woman Superintendent of Police, who acting on intelligence swooped on them. THISDAY gathered that the DPO who had gone undercover by pretending to be a buyer of the ill gotten petroleum products, had lured them before she and her men arrested them. A Domestic Affair Call it a domestic affair and you won’t be far from the truth; or how else do you describe an oil operation run from the confines of their bedrooms and under the cover of darkness. A visit to Abeokuta Close, off Ibadan Street, Ilasa, revealed that virtually all houses in the close had water-wells turned into oil wells, from which they ran a well-oiled operation.

THISDAY checks also revealed that some of suspects had connected water pumps into the wells, from which they pump the products, suspected to be diesel, into an overhead tank. From the overhead tanks, the suspects then run it into jerrycans and then sell them off to the 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 had even given quit notice to her tenants to afford her the privacy to run her business.

The Ilasa DPO had gathered intelligence that some houses had diesel where the landlords and landladies do illegal oil business. The landlady of one of the houses on Abeokuta Street was also selling the vandalised products. She pursued all her tenants out and have been doing the business illegally

Bursting the Syndicate Apparently, the indicted streets were not even far away from the Ilasa Police Division, but it was so much a coded affair that it went unchallenged for long. It probably would have remained so but for the suspicious activity of one of the suspects, then the gut instincts and sheer bravery of the police. THISDAY gathered that the DPO was on routine patrol early in the morning that Friday, when the patrol vehicle ran into a woman carrying a keg around 12 midnight. When they attempted to intercept and interrogate her, she fled, an action that aroused the suspicion of the police. They immediately gave her chase and overtook her, after which she eventually took them to number 12, Abeokuta Street, one of the houses housing the illegal oil wells. But those in the house refused the police entry. Afterwards, the DPO and her men left the scene, only for her to go back to the office to change into civilian clothes. Parking their patrol vehicle miles away, they walked back to the said house, this time disguising as potential buyer. When those inside opened the door, the police barged in and began a search of the house. When the DPO got to the back of the house, she saw one of the wells covered with concrete slab, she demanded that they remove it and that was how they discovered the well. Further search unearthed more houses, prompting her to call for reinforcements. The Lagos State Commissioner Police, Fatai Owoseni, who was at the scene said the residents have been advised to relocate because of the

danger the oil wells portend for their safety, adding that the activities were carried out by property owners. He also said he doubted if some of the tenants had no knowledge of what was going on in their environment, adding that the level of arrangements they met on ground in the houses showed it was a planned business activities which most people in the area would have been aware of or have knowledge about. While urging Nigerians to be patriotic and report all illegal activities to security agencies, Owoseni said residents have been advised to vacate the area pending when the wells are drained and the area certified safe. He also noted that some culprits may already be planning to wreak havoc by setting any of the houses ablaze because of their close proximity. Owoseni 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, SP Dolapo Badmos and the General Manager, Lagos State Emergency Management Agency (LASEMA), Michael Akindele. In an interview with journalists afterwards he said, “The Ilasa DPO had gathered intelligence that some houses had diesel where the landlords and landladies do illegal oil business. The landlady of one of the houses on Abeokuta Street was also selling the vandalised products. She pursued all her tenants out and have been doing the business illegally. They are all aware and she is one of the landladies that lives there and connected pipes to the wells with

39 41

T H I S D AY • MONDAY, AUGUST 22, 2016 WEDNESDAY, AUGUST 24, 2016, • T H I S D AY

CITYSTRINGS CITYSTRINGS

The Lagos Police PRO, SP Dolapo Badmos (far back), with the suspects

L-R: SP Oluwasanni, CP Owoseni, ACP Salisu, heading to inspect another house

One of the affected houses

One of the wells containing diesel

a pumping machine. “Some of the tenants have denied culpability. How can they live here in the midst of oil and keep quiet. This is a disaster. If this catches fire, it will be disastrous because the area is densely populated. After now, the Lagos State Government will make an Environmental Impact Assessment (EIA) to decide what to do with the diesel found in these wells. “Already, the personnel of the Nigerian National Petroleum Corporation (NNPC) are at the wells to collect sample and test the quality of the diesel. As investigation progresses, we will track the buyers of the products and also arrest them. Already, we are ferreting information from the suspects arrested.” Two days later, the Lagos State Police Command, said it’s operatives would continue to go more after landlords and other possible suspects with connection to the oil wells discovered at the Ilasa area of the state. Already, the five suspects picked up after the raid by the Ilasa Police Division, SP 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, a Superintendent of Police, who confirmed the manhunt for more suspects, said the command has 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 remain sealed until further notice.” Suspect’s Denial Although five persons were initially arrested, two were later released after investigations. One of the landladies, accused of selling the diesel, one Mrs. Moji Adesina said, “It’s true that they found diesel in my well but I never sold it. I noticed it three weeks ago and I haven’t touched it.” When she was asked why she didn’t report to the police and why she sent out her tenants she said, “The house belongs to my late husband and was transferred to me after his

death. It was a well we use for water but later diesel started coming out of it but I didn’t sell it. I didn’t pursue my tenants. They left on their own.” Another suspect, one Tajudeen Bamiloye, of No. 11 Abeokuta Street, said, “I came on my own to report the well to the police. I am the landlord of one of the houses in question. My tenants called me about the well. When I got there and saw the diesel inside the well, I moved straight to report to the police. I am not an oil vandal.” The other landlady, Mrs. Tayo Agboola, also denied knowledge, just as one Chinyere Nnaji, a 27-year-old tenant, also denied culpability, adding that they stayed off the well once they noticed the diesel, which she said had almost caused a fire disaster earlier on. Lagos State Government Reacts Reacting to the incident, the Lagos State Governor, Akinwunmi Ambode, who also visited the scene, directed that the 12 houses be shut down, even as it prepared a temporary accommodation for the displaced tenants. In a statement issued afterwards by the Chief Press Secretary, Habib Haruna, the governor said the houses in Abeokuta and Ibadan Streets in Ilasamaja area of the state were shut over the discovery of shallow oil wells built by landlords to illegally scoop diesel from pipeline belonging to the Nigerian National Petroleum Corporation (NNPC). He said, “The oil wells were said to have been built for the purpose of illegally scooping diesel and selling same to members of the public, while some of the affected landlords built pumping machines and bore holes to perpetrate the crime on a large scale. “The state’s Commissioner for Information and Strategy, Mr. Steve Ayorinde who confirmed this while briefing newsmen at the Lagos House, Ikeja, said the step to shut the wells and condone off the area was taken by government to forestall loss of lives and property as a result of the looming danger. “Ayorinde, who addressed journalists alongside top government functionaries and the Lagos State Commissioner of Police, Mr. Fatai Owoseni, said a combined team from the police command, the Ministry of Environment, Lagos State Environmental Protection Agency, Lagos State Fire Service and Sole Administrator of Isolo Local Council Development Area carried out a thorough inspection of the entire area

and discovered nothing less than 12 of the illegal oil wells. “He said initial investigation revealed that a few of the landlords where the wells are located were taking advantage of the situation by commercialising the dangerous act. He said that samples of the substance have been taken for immediate investigation in order to determine the true nature of the substance as well as the root cause of it. “He said the state government was working with the NNPC for further investigation. Ayorinde said for the safety of residents, especially on Abeokuta and Ibadan Streets, the affected wells have been sealed off, adding that the government would also work with those who are likely to be displaced as a result of the development. “The Lagos State Government wishes to use this opportunity to remind Lagosians and the residents of these areas in particular, to assist the police with useful information and to urge them to always volunteer information before any potentially dangerous situation degenerates to public hazard. “Also speaking the Commissioner of Police confirmed the arrest of three suspects in the operation, adding that a fire tanker has been stationed in the event of any fire incident. The men of the Lagos State Police Command in the area who were on routine patrol said they saw a woman around 12 midnight with keg of diesel and when an attempt was made for her to be accosted, she fled, a development which alerted the police of something fishy. The police immediately pursued the woman and accosted her, after which she eventually took them to number 12, Abeokuta Street, off Ilasamaja, one of the houses housing the illegal oil wells. “Upon getting to the said house, those inside shut the door and prevented the police from gaining entrance. The officers thereafter left the scene with the arrested woman, and they later came back disguising as potential buyers of diesel, while those inside opened the door. It was at that point that the illegal oil well was discovered at the house, after which about 10 more wells were discovered in other houses in Abeokuta and Ibadan streets,” he said. The Police Crime Bursting Amazon Suffice to say that without the eagle eye of the DPO, Ilasa, the recent revelation wouldn’t have come to public glare at all. Branded a

tough nut, SP Oluwasanni has gone to prove that being a woman in a seemingly man’s job, is no excuse for mediocrity. When she was deployed to Ilasa Police Division by the CP in December 2015 from Lion Building Police Division, where she was in the traffic section, she met chaos and she had no choice but to hit the ground running. Under the leadership of CP Fatai Owoseni, she has since blossomed and can be said to have come into her full potential as an Amazon policewoman. Little wonder she was bestowed by the notable Crime Reporters of Nigeria (CRAN) with the Distinguished award in Crime Fighting. Since the award, she has gone on to do greater things. Her division has been credited with so many crime bursting, arrests of police impersonators, rapists and cultists, thus sanitising the area and making it once more habitable for the law abiding residents. In June 2016, she was credited to have arrested a dismissed police officer, one Inspector John Oduh, for impersonating. Although Oduh was dismissed in 2013 after being declared AWOL, he was still parading himself as a policeman. Also in June, she arrested five notorious members of the Eiye Confraternity, among them was their leader, one Ayodele Shotayo, popularly known as AY, who has been on the police wanted list for years. Shotayo and his gang have been responsible for the killing of members of rival cultists. Others arrested were Gbolahan Adedeji, Sadiq Jamiu, Oluwatosin Onipede and Sadiq Akinosi. Still in June, she had gone on to arrest a notorious rapist, one Wasiu, who was known for raping teenagers and beating them up afterwards. Opinions sampled by THISDAY on the day the oil wells were discovered, all lavished encomiums on the woman superintendent, whom they said has reduced criminalities in the area within the past eight months. Often known to lead night patrols, she has succeeded in ridding the division of black spots, known for armed robbery and cultism. Aside that, her officers who spoke on anonymity to THISDAY said she has also transformed not just their station by giving it a facelift, but has also been championing their welfare. Meanwhile, some of the residents of the area who commended the police on the feat, said it would have been disastrous if a fire disaster had been recorded in the area.

WEDNESDAY AUGUST 24, 2016 T H I S D AY

RC 2974

nigerian agip oil company limited Operator of the NNPC/naoc/OHL Joint Venture.

TENDER OPPORTUNITY PROVISION OF 2017 DOLLAR OPERATIONAL INSURANCE AND THIRD PARTY LIABILTY POLICIES FOR NAOC JV OPERATIONS NIPEX TENDER NO:1000000857

1. INTRODUCTION Nigerian Agip Oil Company Limited (NAOC), Operator of NNPC/NAOC/CONOCO-PHILIPS Joint Venture, is seeking qualified Insurers for the Provision of Operational Insurance Cover for its properties and third party liabilities. The contract duration is two (2) years + one (1) years option of renewal. 2. SCOPE OF WORK Insurances required include the following: Operational Insurance and General Third Party Liability Insurance policies. For the Operational and General Third Party Liability policy (policy limit US$25,000,000), the Insurer shall retain a percentage of the risk in Nigeria and reinsure the remainder of the risk with leading international underwriters. The insurer shall justify by verifiable proof of evidence with NAICOM approval certification that all in-country capacity for the risk have been utilized before it can re-insure the excess capacity with leading international underwriters. The Insurer will liaise with the appointed Reinsurance Broker for the purpose of reinsurance with foreign Underwriters with minimum of A rating by an international rating agency. The Insurer will also handle claims services, policy documentation, renewals, endorsement etc

your DPR certificate as evidence for verification and necessary update. 4. To initiate the NJQS pre-qualification process, access www.nipexng.com to download application form, make necessary payments and contact NipeX office for further action. 5. To be eligible, all tenders must comply with the Nigerian Content requirements in the NipeX system. 4. NIGERIAN CONTENT Bidders are invited to express complete understanding, willingness and commitment to comply with the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, 2010 and. Insurance ACT 2003 Consequently, bidders' submissions shall be evaluated strictly with the minimum evaluation criteria defined in the NOGICD Insurance Act.

2. To determine if you are pre-qualified and view the product/service category you are listed for: Open www.nipexng.com and access NJQS with your log in details, click on continue Joint Qualification Scheme tool, click check my supplier status and then click supplier product group.

The documentation for evaluation shall include but not be limited to the following: 1. Provide a certified true copy of the Corporate Affairs Commission(CAC) of the company's certificate of Incorporation. 2. Provide a certified true copy by NAICOM of the Company's Licence as an Insurer to transact Life and or general insurance business. 3. Provide evidence of bidders' detailed binding agreement with any competent Re-insurance company; 4. Provide current and in-place organization structure with detail experience and skills of key management personnel with names. 5. Detail past experience / present commitment to staff training and development of Nigerian Personnel. Furnish details of training plans for Nigerians specific to this scope of work.

3. If you are not listed in a product/service category but you are registered with DPR to do business, contact NipeX office at 30, Oyinkan Abayomi Street, Ikoyi Lagos with

NOTE: Non-compliance with Nigerian content requirements is a FATAL FLAW

3. MANDATORY REQUIREMENTS 1. To be eligible for this tender exercise, interested contractors are required to be pre-qualified in Non-life Insurance Service Category 3.14.32 (Product/Services) in NipeX Joint Qualification System (NJQS) database. All successfully prequalified suppliers in this categories will receive Invitation to Technical Tender (ITT).

5. CLOSING DATE th Only tenderers who are registered with NJQS in the Non-life Insurance Service Category 3.14.32 Product Category as at 14 of September, 2016 by 1600hrs being the advert closing date shall be invited to submit Technical Bids. Please visit the NipeX Portal at www.nipexng.com for this Advert and other additional information. 6. ADDITIONAL INFORMATION This advertisement of â&#x20AC;&#x153;Tender Opportunityâ&#x20AC;? shall not be construed as a commitment on part of NAOC, nor shall it entitle Applicants to make any claims whatsoever and/or seek any indemnity from NAOC and/or any of its Partners by virtue of such Applicants having responded to this Advert.

MANAGEMENT

T H I S D AY WEDNESDAY AUGUST 24, 2016

RC 2974

nigerian agip oil company limited Operator of the NNPC/naoc/OHL Joint Venture.

TENDER OPPORTUNITY PROVISION OF 2017 NIGERIAN NAIRA POLICIES FOR NAOC JV OPERATION NIPEX TENDER NO:1000000860 1. INTRODUCTION Nigerian Agip Oil Company Limited (NAOC), Operator of NNPC/NAOC/CONOCO-PHILIPS Joint Venture, is seeking qualified Insurers for the Provision of 2017 Nigerian Naira Policies. The contract duration is two (2) years + one (1) years option of renewal.

4. To initiate the NJQS pre-qualification process, access www.nipexng.com to download application form, make necessary payments and contact NipeX office for further action 5. To be eligible, all tenders must comply with the Nigerian Content requirements in the NipeX system.

2. SCOPE OF WORK

4. NIGERIAN CONTENT

Insurances required include the following: Group Personal Accident, Group Life Assurance, Motor Vehicle, Fire and Special Perils , Computer , Transit, Marine

Bidders are invited to express complete understanding, willingness and commitment to comply with the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, 2010 and. Insurance ACT 2003 Consequently, bidders' submissions shall be evaluated strictly with the minimum evaluation criteria defined in the NOGICD Insurance Act.

For the Naira policies, the insurer shall retain 100% of the risk. The Insurer will liaise with the Broker appointed by NAOC for the purpose of good underwriting, claims administration, policy documentation, renewals, endorsements etc

The documentation for evaluation shall include but not be limited to the following:

3. MANDATORY REQUIREMENTS 1. To be eligible for this tender exercise, interested bidders are required to be pre-qualified in the 3.14.30 (Life Insurance services) and 3.14.32 (Non-Life insurance services) category in NipeX Joint Qualification System (NJQS) database. All successfully pre-qualified suppliers in this category by the bid close date will receive Invitation to Technical Tender (ITT). 2. To determine if you are pre-qualified and view the product/service category you are listed for: Open www.nipexng.com and access NJQS with your log in details, click on continue Joint Qualification Scheme tool, click check my supplier status and then click supplier product group. 3. If you are not listed in a product/service category but you are registered with DPR to do business, contact NipeX office at 30, Oyinkan Abayomi Street, Ikoyi Lagos with your DPR certificate as evidence for verification and necessary update.

1. Provide a certified true copy of the Corporate Affairs Commission (CAC) of the company's certificate of Incorporation 2. Provide a certified true copy by NAICOM of the company's Licence as an Insurer to transact Life and or general insurance business 3. Provide current and in-place organisation structure with detail experience and skills of key management personnel with names 4. Provide evidence (personnel list and positions with organization chart to substantiate) of percentage of management that are Nigerian nationals and the percentage of the total workforce that are Nigerians. NOTE: Non-compliance with Nigerian content requirements is a FATAL FLAW

CLOSING DATE

Only tenderers who are registered with NJQS in the Life Insurance Service 3.14.30 and/or 3.14.32 (Non-Life Insurance Services) th Product/Service Categories as at 14 of September 2016 by 1600hrs being the advert closing date shall be invited to submit Technical Bids. Please visit the NipeX Portal at www.nipexng.com for this Advert and other additional information. This advertisement of â&#x20AC;&#x153;Tender Opportunityâ&#x20AC;? shall not be construed as a commitment on part of NAOC, nor shall it entitle. Applicants to make any claims whatsoever and/or seek any indemnity from NAOC and/or any of its Partners by virtue of such Applicants having responded to this Advert.

MANAGEMENT

T H I S D AY • WEDNESDAY, AUGUST 24, 2016

BUSINESS/MONEYGUIDE

NIRSAL to Stimulate Food Production The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) said it has initiated a scheme to move cattle from the north to markets in the southern part of the country by rail starting from this week. The Coordinator, Research and Strategy, NIRSAL, Bello Abdullahi Abba, in a statement, described the initiative as an innovative, businessdriven response expected to have a positive impact on the perennial herdsmen-farmers’ crisis, job creation and the cost of some food staples across the country. The scheme which is being operated under a partnership with Connect Rail Services, a bulk freight and logistics service provider, he also said would enable the transportation of tomatoes, vegetables and other perishable food items by rail within the next few months. Additionally, the farsighted scheme will also reduce pressure on foreign exchange

and the depreciation of the country’s road network due to concentration of haulage activities on the road. “Under the scheme, NIRSAL in line with its mandate to fix agricultural value chains and create links between primary producers and the market aims to leverage private sector financing towards the provision of necessary state of the art equipment, storage and agric produce preservation facilities to ensure safe, efficient movement of agric produce from farms in the north to markets in the south. “The scheme is projected to reduce the cost of transporting agric produce from the north to the south by over 20 per cent, minimise wastage and spoilage of goods in transit by over 40 per cent in order to preserve value so that farmers get good price for their produce at the destination markets,” he added. The statement disclosed that three weeks ago, as part of a test run of the historic initia-

tive, cows were transported from Jebba to Lagos by rail within two days in a journey that takes several days by road. The arrival of the cattle in much better condition than herded cattle generated excitement in Oko-Oba, Lagos. Speaking on the development, the Managing Director/ CEO of NIRSAL, Mr. Aliyu Abdulhameed said: “The launch of the Farm to Market scheme is a tribute to the vision of President Muhammadu Buhari who made agriculture a central component of the Federal Government’s economic response to the steep and long standing fall in the global price of oil. NIRSAL’s mandate can best be understood within the context of the policy shift and clear commitment of the Presidency to agriculture.” Abdulhameed also commended the leadership of the CBN Governor, Mr Godwin Emefiele as well as the support of Chief Audu Ogbeh, the Minister of Agriculture and Rural Development (FMARD).

MARKET INDICATORS

Visa Set to Unveil Mobile Payments Solution Visa Incorporated has announced plan to launch a mobile payments solution, mVisa in Nigeria. The company said that it was in advanced discussions with leading Nigerian banks, and expects to roll the solution out with banking partners to Nigerian consumers before the end of 2016. Visa is an innovative mobile payments solution that allows consumers to pay for goods by scanning a QR code on a smart phone or entering a merchant number into their feature phones. Payment goes straight from the consumer’s Visa account into the merchant’s account and provides real-time notification to both parties. mVisa is completely interoperable, meaning that the consumer and the merchant do not need to be customers of the same bank. It can also be used to enable consumers who use

different mobile phones and services to interact. This brings a versatile and secure mobile money solution, powered by Visa, to consumers everywhere. “We’re excited by the prospects of mVisa for Nigeria as a mobile payment solution which brings real benefits to drive digital transformation,” group country manager for Visa West Africa, Ade Ashaye was quoted to have said in a statement. On his part, the Head of Retail Banking for Diamond Bank, Robert Giles said: “As a bank committed to bringing unrivalled customer experiences, we’re incredibly excited about mVisa and its potential for our customers in Nigeria. “The service enables people to engage in secure, digital commerce, and access funds more easily in their bank accounts to make everyday purchases.

mVisa increases the opportunity to include more Nigerians into the formal financial system, which will help the economy, and society grow.” mVisa will be available for both smartphone users and consumers using basic feature phones, with the potential to provide a mobile payment service to nearly all 150 million1 active mobiles phones in Nigeria. Consumers can also use mVisa agents for domestic remittances as well as to access their cash if there is no ATM network. These features accelerate financial inclusion, a core objective of both the Nigerian government and Visa. This is also in line with Visa’s 2015 commitment to the World Bank to bring the benefits of Visa and electronic payments to 500 million more people globally by the end of 2020.

MONEY AND CREDIT STATISTICS 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

-- Net Domestic Credit (NDC)

22,664,815.74

---- 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)

18,882,237.73

--Other Assets Net

-7,746,094.02

Reserve Money (Base Money)

5,758,634.07

--Currency in Circulation

1,811,090.48

--Banks Reserves

3,947,543.59

Hamilton (New York) and LE.K Consulting (Boston) as an experienced strategy and M&A Consultant, advising private and listed corporations in the US. He returned to Nigeria in 2007, to join FCMB Plc as Vice President/Head, Strategy and Mergers & Acquisitions. He led the acquisition, restructuring and merger of the FinBank Plc into FCMB in 2012, where he was the Chief Financial Officer / Integration Director on secondment from FCMB. Until his appointment, Mr. Iyamabo was the Chief Financial Officer (CFO) of FCMB Group Plc with oversight responsibility for Accounting & Finance, Capital and Liquidity Management, Mergers & Acquisition, Portfolio Management and Investor Relations. He has over 20 years of extensive experience across various industries both within and outside Nigeria. He also has significant cross functional experience in Accounting, Audit, Strategic Management, Mergers & Acquisition and Finance,

which will be immensely beneficial to the Bank in his new role as the Chief Financial Officer. Iyamabo holds a Bachelor’s degree in Pharmacy from the Ahmadu Bello University, Zaria. He also holds a Masters of Business Administration (MBA) from The Wharton School, University of Pennsylvania, USA and participated in an MBA exchange program at INSEAD in Singapore. He has also attended professional programs at various institutions including the Harvard Business School, in Boston. He is a member of various professional bodies, including Fellow, Institute of Chartered Accountants of Nigeria (FCA); Associate, Chartered Institute of Taxation of Nigeria (ACIT); Fellow, Institute of Credit Administration (FICA); Honorary Senior Member of the Chartered Institute of Bankers of Nigeria (HSM CIBN); and Certified Information Systems Auditors (CISA).

• Source - CBN

MANAGED FUNDS

FirstBank Appoints Iyamabo Chief Financial Officer FirstBank of Nigeria Limited has announced the appointment of Mr. Patrick Iyamabo as its new Chief Financial Officer (CFO). The appointment followed the elevation of the former CFO, Dr. Adesola Adeduntan to Managing Director/CEO of the Bank. Iyamabo’ s appointment, which is still subject to approval by the Central Bank of Nigeria (CBN), is consistent with FirstBank’s focus on corporate governance and best practice, and ensuring a balance of knowledge, judgment and experience at the highest decision making level in the bank. Iyamabo,started his career with Arthur Andersen (now KPMG Professional Services) as an Auditor in the Banking and Finance practice, and rose to the position of Experienced Manager in the Assurance & Risk Consulting practice, before he left the country for further studies abroad. At various times, he also worked with Booz Allen

(MILLION NAIRA)

MARCH 2016

Initial Price (N) Stanbic Balanced Fund

Buying Price(N)

Selling Price

1,660.29

1,685.29

Stanbic IBTC NEF

1,000.00

11,002.32

11,326.67.11

Stanbic SIBond

120.47

Stanbic IBTC Ethical

1.10

1.13

Stanbic IBTC GIF

142.90

143.38

UBA Balanced Fund

1.2563

1.2493

UBA Bond Fund

1.3443

UBA Equity Fund

0.8205

0.8074

UBA Money Market Fund

1.1510

ARM Aggressive Growth Fund

N13.0544

N13.4480

ARM Discovery Fund

N288.2515

N296.9425

ARM Ethical Fund

N22.5268

N23.2060

ARM Money Market Fund

13.1030 (Yield % ) • Monetary Policy Rate - 13%

OPEC DAILY BASKET PRICE AS AT MONDAY 22, AUG 2016 The price of OPEC basket of fourteen crudes stood at $46.04 a barrel on Monday, compared with $46.82 the previous Friday, according to OPEC Secretariat calculations. The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Rabi Light (Gabon), Minas (Indonesia), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). SOURCE: OPEC headquarters, Vienna

T H I S D AY • WEDNESDAY, AUGUST 24, 2016

Nigeria’s top 50 stocks based on market fundamentals

23-Aug-16

22-Aug-16

% Change

Capitalisation

EPS

P/E

P/S

Div. Yld

Price/ Book Value

01 Dangote Cement Plc

180.00

183.00

-1.64%

3,067,291,332,900.00

9.56

19.14

5.76

4.37%

4.58

02 Nigerian Breweries Plc

140.33

140.00

0.24%

1,112,690,727,613.04

4.50

29.95

3.56

2.67%

6.56

03 Guaranty Trust Bank Plc

25.90

25.65

0.97%

762,267,541,901.60

3.38

7.31

2.44

7.17%

1.68

835.00

0.00%

661,867,970,420.00

19.41

42.50

3.94

3.52%

18.59

05 Zenith Bank Plc

15.76

15.52

1.55%

494,808,742,067.36

3.10

4.94

1.15

11.76%

0.77

06 Lafarge Africa Plc

58.00

56.00

3.57%

264,184,304,980.00

-6.71

-8.35

1.15

5.36%

1.82

170.10

162.00

5.00%

221,552,035,620.30

4.22

38.22

1.42

2.14%

4.90

11.19

0.00%

205,331,478,095.85

0.23

49.75

0.39

5.42%

0.35

09 Access Bank Plc

5.80

5.86

-1.02%

167,782,235,459.80

2.48

2.16

0.45

10.30%

0.40

10 United Bank for Africa Plc

4.53

4.60

-1.52%

164,346,254,238.66

1.65

2.61

0.51

13.95%

0.45

270.11

245.00

10.25%

149,454,648,644.43 -14.43

-16.63

1.42

6.63%

0.35

12 Presco Plc

36.96

0.00%

146,748,831,583.20

0.54

68.91

2.11

3.52%

3.59

13 Unilever Nigeria Plc

38.58

0.00%

145,959,569,325.00

0.46

79.47

2.28

0.14%

15.61

14 Stanbic IBTC Holdings Plc

14.50

0.00%

145,000,000,000.00

2.04

6.92

1.19

0.71%

1.26

15 Guinness Nig Plc

93.50

93.51

-0.01%

140,800,545,578.00

3.70

24.34

1.20

0.00%

3.05

16 FBN Holdings Plc

3.17

3.13

1.28%

113,788,078,150.64

0.30

10.17

0.22

4.84%

0.18

242.00

241.00

0.41%

82,164,284,554.00

31.13

8.00

0.35

5.62%

4.01

6.77

6.54

3.52%

81,240,000,000.00

1.05

6.19

0.65

7.69%

1.31

109.17

0.00%

69,933,249,928.71

11.12

9.80

0.90

2.02%

2.91

20 International Breweries Plc

19.68

19.00

3.58%

64,830,825,830.40

0.17

108.92

2.51

1.32%

5.07

21 Julius Berger Nig. Plc

48.39

0.00%

63,874,800,000.00

0.24

199.88

0.62

3.10%

2.85

5.11

5.15

-0.78%

61,496,902,548.34

-3.46

-1.54

0.34

14.04%

0.46

162.65

0.00%

58,650,819,364.30

17.69

9.49

0.73

4.29%

3.52

19.60

0.00%

51,435,048,865.20

6.81

2.88

0.14

10.20%

0.51

1.18

1.13

4.42%

45,690,776,961.50

-0.37

-2.81

0.90

0.00%

0.53

26 U A C N Plc

19.90

0.00%

38,225,201,301.30

2.44

7.79

0.51

5.26%

0.49

27 Okomu Oil Palm Plc

36.25

0.00%

34,579,237,500.00

4.60

7.89

2.81

0.28%

2.22

28 Sterling Bank Plc

1.03

1.02

0.98%

29,654,130,669.78

0.31

3.34

0.28

8.74%

0.35

29 Fidelity Bank Plc

1.01

1.03

-1.94%

29,252,211,548.92

0.39

2.54

0.20

16.16%

0.16

30 Diamond Bank Plc

1.23

1.19

3.36%

28,487,278,430.64

0.11

10.15

0.12

0.00%

0.11

31 Cadbury Nigeria Plc

13.95

14.00

-0.36%

26,200,918,458.00

3.21

4.41

0.79

9.19%

2.57

32 Wema Bank Plc

0.64

0.61

4.92%

24,687,658,291.84

0.06

10.15

0.50

0.00%

0.52

33 FCMB Group Plc

1.20

1.23

-2.44%

23,763,252,937.20

0.61

2.01

0.15

8.13%

0.14

34 Custodian And Allied Insurance Plc

3.85

3.83

0.52%

22,645,177,150.75

0.76

5.13

0.69

3.59%

0.82

35 Glaxo Smithkline Consumer Nig. Plc

18.50

0.00%

22,123,715,028.00

-2.54

-7.28

0.76

1.62%

2.42

36 National Salt Co. Nig. Plc

8.23

0.00%

21,804,877,850.94

0.89

9.14

1.18

6.79%

3.11

37 Mansard Insurance Plc

2.00

0.00%

21,000,000,000.00

0.27

7.73

1.15

2.38%

1.04

38 Cap Plc

27.30

0.00%

19,110,000,000.00

2.49

10.99

2.71

4.21%

12.57

39 PZ Cussons Nigeria Plc

18.20

0.00%

18,200,000,000.00

4.14

4.35

1.36

0.56%

0.54

40 Honeywell Flour Mill Plc

1.40

1.35

3.70%

11,102,276,721.20

-0.40

-3.39

0.23

11.68%

0.66

41 Continental Reinsurance Plc

0.94

0.98

-4.08%

9,750,379,653.28

0.33

3.13

0.52

11.65%

0.55

42 Unity Bank Plc

0.83

0.91

-8.79%

9,702,150,491.86

0.54

1.68

0.17

0.00%

0.12

43 Skye Bank Plc

0.65

0.64

1.56%

9,022,195,916.50

-2.93

-0.21

0.05

47.62%

0.08

44 Cement Co. Of North.Nig. Plc

6.00

5.81

3.27%

7,540,066,596.00

0.96

6.08

0.56

1.72%

0.72

45 Wapic Insurance Plc

0.50

0.00%

6,691,369,126.00

0.11

4.62

0.88

6.00%

0.43

46 UACN Property Development Co. Limited

3.53

0.00%

6,067,187,482.35

-0.05

-71.16

1.89

18.87%

0.18

47 Resort Savings & Loans Plc

0.50

0.00%

5,664,866,202.00

4.68

0.11

0.02

0.00%

1.89

48 Nigerian Aviation Handling Company Plc

3.40

0.00%

5,522,343,750.00

0.15

23.47

0.73

5.52%

0.95

49 AIICO Insurance Plc

0.66

0.00%

4,573,934,956.80

0.28

2.32

0.13

7.81%

0.46

50 Fidson Healthcare Plc

1.60

1.59

0.63%

2,400,000,000.00

0.31

4.96

0.34

3.29%

0.36

04 Nestle Nigeria Plc

07 Forte Oil Plc. 08 Ecobank Transnational Incorporated

11 Seplat Petroleum Dev. Co. Ltd

17 Total Nigeria Plc 18 Dangote Sugar Refinery Plc 19 7-Up Bottling Comp. Plc

22 Oando Plc 23 Mobil Oil Nig Plc 24 Flour Mills Nig. Plc 25 Transnational Corporation Of Nigeria Plc

TOTAL

8,980,961,434,693.69

TOTAL MARKET CAP

9,551,424,688,964.86

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

94.03%

Table 1 Market Statistics Mkt Indicators NSE All Share Index NSE Market Cap (N'Trillion) Thisday BGL 50 Index Thisday BGL 50 Market Cap (N'Trillion)

Open 22-Aug-16

Close Change % 23-Aug-16

27,812.06 9.55

27,810.28 9.55

-0.01% -0.01%

115.29 8.98

115.34 8.98

0.05% 0.05%

Table 3 Top 5 Gainers Stock

Open Close Change 22-Aug-16 23-Aug-16 %

Seplat Petroleum Dev. Co. Ltd Forte Oil Plc. Wema Bank Plc Transnational Corporation Of Nigeria Plc Honeywell Flour Mill Plc

245.00 162.00 0.61 1.13 1.35

270.11 10.25% 170.10 5.00% 0.64 4.92% 1.18 4.42% 1.40

3.70%

Table 4 Top 5 Losers Stock

Open Close Change 22-Aug-16 23-Aug-16 %

Unity Bank Plc Continental Reinsurance Plc FCMB Group Plc Fidelity Bank Plc Dangote Cement Plc

0.91 0.98 1.23 1.03 183.00

0.83 0.94 1.20 1.01 180.00

-8.79% -4.08% -2.44% -1.94% -1.64%

Market closes flat at 0.01% Market pulse on the Nigerian Stock Exchange (NSE) today –Tuesday, August 23, 2016 was bearish as the market closed red today due to cautious trading. Despite the bearish activities in the market, there were positive performances from all the NSE sub-sectors: Banking, Insurance, Consumer Goods and Oil/Gas. Trading activities decreased in volume as 182.25 million shares worth N2.93 billion in 3,113 deals exchanged hands today. This is a decrease from the 216.17 million shares worth N2.82 billion in 3,316 deals exchanged on Friday. Topping in volume terms was FBNH Plc, Fidelity bank Plc and Guaranty Trust Bank Plc while Nigerian Breweries Plc and Guaranty Trust Bank Plc ended trading as the most active stocks in value terms. The All Share Index (NSEASI) closed negative with a 0.01% (-1.78) decrease to close at 27,810.28 from 27,812.06 the previous trading day. Market Capitalization depreciated in tandem to N9.50 trillion from N9.50 trillion of prior trading day. The Thisday BGL 50 Index however increased with a meagre 0.05% to close at 115.34 from 115.29 recorded at the end of the previous trading day, while its market capitalization stood at N8.98 trillion from N8.98 trillion of the previous trading day. A total number of 27 stocks gained on the bourse today while 15 stocks declined, 48 leaving stocks unchanged. Seplat Petroleum Dev. Co. Ltd emerged the day’s toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 10.25% to close at N270.11 per share. It was followed by Forte Oil Plc with a gain of 5.00% to close at N170.10 per share. Others on the gainers list include: Wema Bank Plc, Transnational Corporation of Nigeria Plc and Honeywell Flour Mill Plc while on the decliners’ list; Unity Bank Plc led with a loss of 8.79% to close at N109.17 per share. It was followed by Continental Reinsurance Plc with a loss of 4.08% to close at N0.94 per share. Others on the losers list include: FCMB Group Plc, Fidelity Bank Plc and Dangote Cement 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

T H I S D AY • WEDNESDAY, AUGUST 24, 2016

MARKET NEWS

CIS Advises Students on Capital Market Opportunities Goddy Egene and Nosa Alekhuogie The Chartered Institute of Stockbrokers (CIS) has advised the economics students of Wesley University of Technology, Ondo in Ondo State to take advantage of the institute’s Diploma Programme in securities and investment to become employable in the financial market. According to the institute,

the capital market which is the medium and long term end of the financial market provides an array of opportunities for the youths to develop entrepreneurship spirit, adding that students should therefore take advantage of these opportunities. Head, Education and Training, CIS, Mr. Chukwudi Nga, gave the advice while addressing the students during their Career day at the school campus.

T H E MAIN BOARD

DEALS

MARKET PRICE

Nga explained that the CIS occupies a critical platform for training of manpower through various levels of professional platforms of which the latest is the newly introduced Diploma in Security and Investment. He said the new programme has been specifically packaged to create a robust and seamless opportunity for the young and talented youths to make a life-long career in the financial

N I G E R I A N QUANTITY TRADED

market. Nga stated further that the Diploma programme has been structured in two levels in order to ensure a sound foundation in finance for the applicants with little or no background in finance related courses. He advised the students to take advantage of the flexibility and frequency of the Diploma Programme to make careers in the financial market.

STO C K

VALUE TRADED ( N )

“ Our Diploma Programme is open to School Certificate Holders and Drgree Holders without finance background. Upon successful completion of the two levels, the candidate is eligible to write the Level 2 of our Final Professional Examination. “ The beauty of our Diploma Programme is that holders of the qualification can use it to gain employment in the financial

market as the qualification is acceptable as the minimum standard for capital market operators in Nigeria,” Nga said. Speaking on the activities in the capital market, Nga explained that the market provides a platform through which individuals can do capital formation while companies and governments at various tiers can mobilize medium and long term funds.

E XC H A N G E

MAIN BOARD

DEALS

MARKET PRICE

QUANTITY TRADED

DAILY STOCK MARKET REPORT

Daily Summary as of 22/02/2016 Printed 22/02/2016 14:36:10.010

Daily Summary (Bonds) No Debt Trading Activity Daily Summary (Equities) Activity Summary on Board EQTY AGRICULTURE Crop Production OKOMU OIL PALM PLC. PRESCO PLC Crop Production Totals Livestock/Animal Specialties LIVESTOCK FEEDS PLC. Livestock/Animal Specialties Totals AGRICULTURE Totals CONGLOMERATES Diversified Industries A.G. LEVENTIS NIGERIA PLC. TRANSNATIONAL CORPORATION OF NIGERIA PLC U A C N PLC. Diversified Industries Totals CONGLOMERATES Totals CONSTRUCTION/REAL ESTATE Infrastructure/Heavy Construction JULIUS BERGER NIG. PLC. Infrastructure/Heavy Construction Totals Real Estate Development UACN PROPERTY DEVELOPMENT CO. LIMITED Real Estate Development Totals CONSTRUCTION/REAL ESTATE Totals CONSUMER GOODS Beverages--Brewers/Distillers CHAMPION BREW. PLC. GUINNESS NIG PLC INTERNATIONAL BREWERIES PLC. NIGERIAN BREW. PLC. Beverages--Brewers/Distillers Totals Beverages--Non-Alcoholic 7-UP BOTTLING COMP. PLC. Beverages--Non-Alcoholic Totals Food Products DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC NASCON ALLIED INDUSTRIES PLC N NIG. FLOUR MILLS PLC. TIGER BRANDED CONSUMER GOODS PLC Food Products Totals Food Products--Diversified CADBURY NIGERIA PLC. NESTLE NIGERIA PLC. Food Products--Diversified Totals Household Durables VITAFOAM NIG PLC. Household Durables Totals Personal/Household Products P Z CUSSONS NIGERIA PLC. UNILEVER NIGERIA PLC. Personal/Household Products Totals CONSUMER GOODS Totals FINANCIAL SERVICES Banking ACCESS BANK PLC. DIAMOND BANK PLC ECOBANK TRANSNATIONAL INCORPORATED FIDELITY BANK PLC GUARANTY TRUST BANK PLC. SKYE BANK PLC STERLING BANK PLC. UNITED BANK FOR AFRICA PLC UNION BANK NIG.PLC. UNITY BANK PLC WEMA BANK PLC. Banking Totals Insurance Carriers, Brokers and Services AIICO INSURANCE PLC. CONTINENTAL REINSURANCE PLC CONSOLIDATED HALLMARK INSURANCE PLC LASACO ASSURANCE PLC. AXAMANSARD INSURANCE PLC N.E.M INSURANCE CO (NIG) PLC. UNITY KAPITAL ASSURANCE PLC WAPIC INSURANCE PLC Insurance Carriers, Brokers and Services Totals Micro-Finance Banks NPF MICROFINANCE BANK PLC Micro-Finance Banks Totals Other Financial Institutions AFRICA PRUDENTIAL REGISTRARS PLC CUSTODIAN AND ALLIED PLC FCMB GROUP PLC. STANBIC IBTC HOLDINGS PLC UNITED CAPITAL PLC Other Financial Institutions Totals FINANCIAL SERVICES Totals HEALTHCARE Pharmaceuticals FIDSON HEALTHCARE PLC

6 6 12

30.00 34.00

12,629 11,640 24,269

374,530.15 421,345.20 795,875.35

19 19 31

1.25

1,078,511 1,078,511 1,102,780

1,358,964.30 1,358,964.30 2,154,839.65

5 68 13 86 86

0.77 1.13 20.47

33,500 6,740,423 65,995 6,839,918 6,839,918

25,070.00 7,635,453.96 1,344,425.15 9,004,949.11 9,004,949.11

13 13

41.50

31,970 31,970

1,409,214.78 1,409,214.78

5 5 18

5.20

28,901 28,901 60,871

154,716.48 154,716.48 1,563,931.26

6 24 7 98 135

2.85 118.85 20.00 99.00

190,900 53,000 15,200 429,541 688,641

528,079.00 6,201,924.95 293,757.00 42,728,789.84 49,752,550.79

9 9

168.50

166,476 166,476

28,285,937.95 28,285,937.95

54 38 6 12 1 29 140

5.61 19.00 1.37 6.86 6.65 1.27

2,120,306 314,421 40,000 119,863 433 3,285,739,119 3,288,334,142

11,610,520.13 5,953,792.96 55,716.00 842,442.48 2,736.56 4,074,348,894.07 4,092,814,102.20

11 54 65

17.86 700.00

18,825 98,360 117,185

329,518.50 68,567,962.00 68,897,480.50

11 11

4.46

99,050 99,050

420,455.00 420,455.00

13 21 34 394

21.90 28.00

36,887 133,117 170,004 3,289,575,498

820,034.75 3,737,067.92 4,557,102.67 4,244,727,629.11

82 51 21 25 200 41 16 147 11 15 67 676

4.10 1.49 15.60 1.21 16.70 1.07 1.76 2.95 5.30 0.63 0.98

3,962,506 2,163,396 278,470 790,900 4,847,312 1,969,858 1,204,932 8,586,418 39,752 501,617 5,920,564 30,265,725

16,210,255.82 3,314,106.88 4,136,459.40 958,864.34 80,963,793.44 2,115,552.11 2,087,767.85 25,302,954.71 205,645.40 316,018.71 5,813,502.17 141,424,920.83

14 8 2 3 7 10 1 1 46

0.80 0.90 0.50 0.50 2.06 0.76 0.50 0.50

200,107 276,500 5,004,000 1,000,000 351,540 327,285 37,708,135 10 44,867,577

160,838.67 251,350.00 2,502,000.00 500,000.00 720,728.80 245,325.31 18,854,067.50 5.00 23,234,315.28

1 1

1.08

4,760 4,760

4,950.40 4,950.40

31 7 105 7 20 170 893

2.46 4.00 0.85 14.15 1.31

1,149,464 27,041 31,257,120 38,035 708,255 33,179,915 108,317,977

2,830,722.84 104,002.06 26,613,309.20 537,985.34 931,556.31 31,017,575.75 195,681,762.26

2.69

614,065

1,572,223.05

GLAXO SMITHKLINE CONSUMER NIG. PLC. MAY & BAKER NIGERIA PLC. NEIMETH INTERNATIONAL PHARMACEUTICALS PLC Pharmaceuticals Totals HEALTHCARE Totals ICT IT Services TRIPPLE GEE AND COMPANY PLC. IT Services Totals ICT Totals INDUSTRIAL GOODS Building Materials ASHAKA CEM PLC BERGER PAINTS PLC CAP PLC CEMENT CO. OF NORTH.NIG. PLC PORTLAND PAINTS & PRODUCTS NIGERIA PLC LAFARGE AFRICA PLC. Building Materials Totals Electronic and Electrical Products CUTIX PLC. Electronic and Electrical Products Totals Packaging/Containers BETA GLASS CO PLC. Packaging/Containers Totals INDUSTRIAL GOODS Totals OIL AND GAS Energy Equipment and Services JAPAUL OIL & MARITIME SERVICES PLC Energy Equipment and Services Totals Integrated Oil and Gas Services OANDO PLC Integrated Oil and Gas Services Totals Petroleum and Petroleum Products Distributors CONOIL PLC ETERNA PLC. FORTE OIL PLC. MOBIL OIL NIG PLC. TOTAL NIGERIA PLC. Petroleum and Petroleum Products Distributors Totals Exploration and Production SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD Exploration and Production Totals OIL AND GAS Totals SERVICES Automobile/Auto Part Retailers R T BRISCOE PLC. Automobile/Auto Part Retailers Totals Courier/Freight/Delivery RED STAR EXPRESS PLC Courier/Freight/Delivery Totals Printing/Publishing LEARN AFRICA PLC Printing/Publishing Totals Transport-Related Services AIRLINE SERVICES AND LOGISTICS PLC NIGERIAN AVIATION HANDLING COMPANY PLC Transport-Related Services Totals Support and Logistics CAVERTON OFFSHORE SUPPORT GRP PLC Support and Logistics Totals SERVICES Totals EQTY Board Totals Daily Summary (Equities) Activity Summary on Board ASeM CONSUMER GOODS Food Products MCNICHOLS PLC Food Products Totals CONSUMER GOODS Totals ASeM Board Totals Daily Summary (Equities) Activity Summary on Board PREMIUM FINANCIAL SERVICES Banking ZENITH INTERNATIONAL BANK PLC Banking Totals Other Financial Institutions FBN HOLDINGS PLC Other Financial Institutions Totals FINANCIAL SERVICES Totals INDUSTRIAL GOODS Building Materials DANGOTE CEMENT PLC Building Materials Totals INDUSTRIAL GOODS Totals PREMIUM Board Totals Equity Activity Totals

VALUE TRADED ( N)

32 4 6 69 69

25.33 0.94 0.69

551,998 16,020 597,000 1,779,083 1,779,083

13,903,164.18 15,299.40 412,110.00 15,902,796.63 15,902,796.63

1 1 1

1.69

500 500 500

805.00 805.00 805.00

16 9 4 6 10 31 76

24.00 9.30 35.78 8.62 3.36 80.50

110,727 40,229 26,700 142,300 299,900 14,373,223 14,993,079

2,707,053.97 362,501.29 992,680.00 1,227,076.00 966,480.00 1,157,057,077.16 1,163,312,868.42

6 6

1.51

134,500 134,500

204,240.00 204,240.00

5 5 87

50.00

24,529 24,529 15,152,108

1,165,135.50 1,165,135.50 1,164,682,243.92

2 2

0.50

24,262 24,262

12,131.00 12,131.00

90 90

3.47

3,827,573 3,827,573

13,288,632.05 13,288,632.05

21 7 8 21 7 64

18.34 1.84 342.00 150.00 145.00

81,125 100,300 20,300 16,295 13,699 231,719

1,505,034.50 182,832.00 6,595,470.00 2,396,080.60 1,959,692.96 12,639,110.06

33 33 189

318.00

389,934 389,934 4,473,488

124,037,602.56 124,037,602.56 149,977,475.67

1 1

0.50

941 941

470.50 470.50

5 5

3.80

32,870 32,870

127,756.40 127,756.40

13 13

0.89

624,500 624,500

538,430.00 538,430.00

1 22 23

2.29 4.00

4,588 251,094 255,682

10,001.84 1,001,583.80 1,011,585.64

1 1 43 1,811

1.68

10,000 10,000 923,993 3,428,226,216

16,000.00 16,000.00 1,694,242.54 5,785,390,675.15

2 2 2 2

1.21

270,464 270,464 270,464 270,464

327,261.44 327,261.44 327,261.44 327,261.44

306 306

11.45

13,929,679 13,929,679

159,605,439.23 159,605,439.23

278 278 584

3.74

10,438,552 10,438,552 24,368,231

39,515,087.18 39,515,087.18 199,120,526.41

35 35 35 619 2,432

139.83

38,770 38,770 38,770 24,407,001 3,452,903,681

5,304,666.00 5,304,666.00 5,304,666.00 204,425,192.41 5,990,143,129.00

2 2 2 2 2 10 10 10

2,330.00 2.33 6.02 11.09 18.07

3,000 20 20 20 15 3,075 3,075 3,075

6,986,000.00 46.70 120.20 221.80 270.65 6,986,659.35 6,986,659.35 6,986,659.35

Daily Summary (ETP) Exchange Traded Fund Name NEWGOLD EXCHANGE TRADED FUND (ETF) VETIVA BANKING ETF VETIVA CONSUMER GOODS ETF VETIVA GRIFFIN 30 ETF VETIVA INDUSTRIAL ETF Exchange Traded Fund Totals ETF Board Totals ETP Activity Totals

WEDNESDAY AUGUST 24, 2016 • T H I S D AY

INTERNATIONAL

email:foreigndesk@thisdaylive.com

New Massacre Reports Show US Inability to Curb Iraqi Militias A new massacre reports have shown the United States’inability to curb Iraqi militias. Shi’ite militias in Iraq have been detained, tortured and abused far more Sunni civilians during the American-backed capture of the town of Falluja in June than U.S. officials have publicly acknowledged, Reuters has found.

More than 700 Sunni men and boys are still missing more than two months after the Islamic State stronghold fell. The abuses occurred despite U.S. efforts to restrict the militias’ role in the operation, including threatening to withdraw American air support, according to U.S. and Iraqi officials. The U.S. efforts had little effect.

Iran Signals More Willingness for OPEC Action to Boost Oil Price Iran is sending positive signals that it may support joint action to prop up the oil market, sources in OPEC and the oil industry said, potentially aiding efforts to revive a global deal on freezing production levels at talks next month. OPEC’s third-largest producer has been boosting output after the lifting of Western sanctions in January. Tehran refused to join a previous attempt this year by OPEC plus non-members such as Russia to stabilize production, and talks collapsed in April. Though Iran has not yet decided whether to join a new effort,Tehran appears to be more willing to reach an understanding with other oil producers, the sources said. Venezuelan Oil Minister Eulogio Del Pino last week toured oilproducing countries including Saudi Arabia and Iran to rally support for a deal. Despite rising this year, oil at around $49 a barrel is less than half its level of mid-2014.

“Iran is reaching its presanctions production level soon and after that it can cooperate with the others,” said a source familiar with Iranian thinking after del Pino’s visit to Tehran. “In general, Iran prefers more actions from the OPEC side rather than just freezing at the maximum production level of all members. If this freezing issue helps prices to improve, Iran by positive words of support, will help.” Members of the Organization of the Petroleum Exporting Countries are due to meet informally in Algeria next month on the sidelines of the International Energy Forum. Russia is also expected to attend the IEF. Venezuela, whose economy has been hit hard by the oil price collapse, has for months sought to rally producers towards an agreement to limit production. Del Pino was in Tehran on Aug. 15 before flying to Jeddah in Saudi Arabia.

JOB VACANCY Graduates of Civil Engineering from recognized universities, who possess relevant work experience in major construction works – buildings, roads, and bridges - are required to fill the under-listed positions in a major civil works project.

A) PROJECT MANAGER

– Minimum 15 years work experience

B) CONSTRUCTION MANAGER

– Minimum 12 years work experience

C) CONSTRUCTION ENGINEERS

– Minimum 8 years work experience

Interested and qualified persons should forward their applications/CV’s to recruitment6570@ gmail.com within 7 days of this publication. NOTE: Shortlisted candidates shall be duly contacted and invited for interview.

Shi’ite militias did not pull back from Falluja, participated in looting there and now vow to defy any American effort to limit their role in coming operations against Islamic State. All told, militia fighters killed at least 66 Sunni males and abused at least 1,500 others fleeing the Falluja area, according to interviews with more than 20 survivors, tribal leaders, Iraqi politicians and Western diplomats. They said men were shot, beaten with rubber hoses and in several cases beheaded. Their accounts were supported by a Reuters review of an investigation by local Iraqi authorities and video testimony and photographs of survivors taken immediately after their release. The battle against Islamic State is the latest chapter in the conflict

between Iraq’s Shi’ite majority and Sunni minority, which was unleashed by the 2003 U.S.-led invasion.The war ended decades of Sunni rule under Saddam Hussein and brought to power a series of governments dominated by Shi’ite Islamist parties patronized by Iran. Washington’s inability to restrain the sectarian violence is now a central concern for Obama administration officials as they move ahead with plans to help Iraqi forces retake the much larger city of Mosul, Islamic State’s Iraqi capital. Preliminary operations to clear areas outside the strategic city have been under way for months. Sunni leaders in Iraq and Western diplomats fear the Shi’ite militias might commit worse excesses in Mosul, the country’s second-largest city. Islamic State,

the Sunni extremist group, seized the majority-Sunni city in June 2014. U.S. officials say they fear a repeat of the militia abuses in Mosul could erase any chances of reconciling Iraq’s Sunni and Shia communities.“Virtually every conversation that we have had internally with respect to planning for Mosul - and virtually every conversation that we’ve had with the Iraqis - has this as a central topic,” said a senior Obama Administration official. In public, as reports of the abuses in Falluja emerged from survivors, Iraqi officials and human rights groups, U.S. officials in Washington initially played down the scope of the problem and did not disclose the failed American effort to rein in the militias.

Brett McGurk, the special U.S. envoy for the American-led campaign against Islamic State, expressed concern to reporters at a June 10th White House briefing for reporters about what he called “reports of isolated atrocities” against fleeing Sunnis. Three days before the briefing, Gov. Sohaib al-Rawi of Anbar Province informed the U.S. ambassador that hundreds of people detained by Shi’ite militias had gone missing around Falluja, the governor told Reuters. By the time of the White House briefing, Iraqi officials, human rights investigators and the United Nations had collected evidence of scores of executions, the torture of hundreds of men and teenagers, and the disappearance of more than 700 others.

PRESIDENTIAL VACATION

President Barack Obama and first lady Michelle Obama walk to greet onlookers as they arrive for their annual summer vacation at Martha’s Vineyard Airport in West Tisbury, Massachusetts….recently

Egypt’s Wheat Commission Submits Corruption Report A fact-finding commission investigating corruption in Egypt’s domestic wheat supplies has delivered its final report to

parliament, a lawmaker said on Monday, amid mounting pressure on the minister of supplies to resign.

Egypt, the world’s largest importer of wheat, has been mired in controversy over whether much of the roughly 5 million tons of grain the government said it procured in this year’s harvest exists only on paper, the result of local suppliers falsifying receipts to boost government payments. The wheat corruption report, delivered late last week to the head of parliament, concluded some 200,000 tons of wheat was missing at ten private storage sites visited by the commission, Yasser Omar, a lawmaker on the commission, told Reuters.

PUBLIC NOTICE

This is to inform the general public that I ONOMAPOME CHRISTIAN no longer bear the name CHRISTIAN TOUYO. Henceforth, I wish to be known and addressed as ONOMAPOME CHRISTIAN and my correct Date of Birth is January 21st, 1968. All documents remain valid.

“Of course there is more than one million tonnes missing ... but we won’t be able to know exactly how much is missing because we cant inspect every single site,” he said. Minister of Supplies Khaled Hanafi told Reuters last month only 4 percent of this year’s procurement was missing. Grains industry officials have said the figure likely exceeds 2 million tonnes. If Egypt’s local wheat procurement numbers were misrepresented, it may have to spend more on foreign wheat purchases to meet domestic demand - even as the country faces a dollar shortage that has sapped its ability to import. Parliament will discuss the report this week before questioning Hanafi and possibly holding a vote of no-confidence that could remove him from office, Omar said.

WEDNESDAY AUGUST24, 2016 • T H I S D AY

NEWSXTRA

Troops Arrest Soldiers’ Killers in Bayelsa, Recover Ammunition Suspects: Why we struck

Emmanuel Addeh in Yenagoa

In a major breakthrough against criminality in the Niger Delta, the Joint Task Force, Operation Delta Safe, yesterday confirmed the arrest of the suspects linked to the brutal killing of four soldiers at a checkpoint in the waterways of Nembe, Bayelsa State, two weeks ago. During yesterday’s operation, which led to the killing of the leader of the Bayelsa axis of the group, whom troops claimed was a suspected member of the Niger Delta Avengers, it was also revealed that a large cache of arms and

ammunition and the military gunboat seized from the soldiers, were also recovered. The military stated that the search for the suspected killers led them to a hideout in a camp at Saraba Creek, near Okiama community, Okigbene in Southern Ijaw Local Government, where the soldiers located the militants and engaged them in a gun duel, leading to the death of many suspects and the arrest of three others. Among the items, including military accoutrements seized from the hoodlums were nine AK47 rifles, an FN rifle, four HK 21 MGs, one G3 MG, three GPMGs,

20 AK47 magazines, two G3 magazines, one FN magazine, one container of gunpowder and the gunboat seized from the murdered soldiers. Also seized during the raid were 1,145 rounds of 7.62mm metal link, 2,485 rounds of 7.62mm ball cartons, 370 rounds of 7.62mm special ammunition and 1,356 rounds of 7.62mm NATO ammunition. Austin Dikro, one of the suspects paraded by the JTF commander in the Niger

Delta, Rear Admiral Joseph Okojie, said the group had gone for another operation and were returning when they had the bloody encounter with the troops. According to him, the creek on the route they initially wanted to take had dried up on their return, making it difficult for their speedboat to float, before their now deceased leader ordered them to go through the military checkpoint and engage the soldiers head-on. Dikro, who said he

hails from Brass Local Government Area in the state, added that they disguised as mourners just before approaching the military blockade and opened fire on the troops. It was gathered that the hoodlums also forced one of the surviving soldiers to operate the military gunboat that was seized from the troops, because it was too complex for their own men. It was learnt that the soldier was the fourth military personnel that was

killed during the August 8th encounter, as against the three that were initially reported. Throwing more light on why the militants have embarked on attacking soldiers in the Niger Delta waterways, Admiral Okojie, who was flanked by all the unit commanders in the region, including the army, navy, civil defence, Department of State Services (DSS), police and others,

Cont’d on Pg 52

Ondo APC Peace Meeting Ends in Stalemate Party backs state chairman, Kekemeke Onyebuchi Ezigbo in Abuja The reconciliatory meeting convened by the national leadership of the All Progressives Congress (APC) yesterday ended without a resolution of the rift between the contending forces in the Ondo State chapter of the party. The Deputy National Chairman (North) of the party, Senator Lawal Shuaibu, who presided over the meeting, said the state remained an APC state notwithstanding the misgivings among party stakeholders. Speaking shortly after the meeting with members of the state executive of the APC in the state, Shuiabu restated the position of the party recognising Mr. Isaac Kekemeke as the authentic chairman of the APC in the state. Most of the other leaders of the party in the state had accused Kekemeke of bais in favour of one of the candidates allegedly anointed by the national leader of APC, Bola Ahmed Tinubu. Accused of doing the bidding of a national leader of the party, Bola Tinubu, to favour one of the aspirants, Segun Abraham, the APC chairman, said he had two months ago announced his decision to members of his executive committee. The aggrieved members at yesterday’s peace meeting insisted that the vote of no confidence on Kekemeke still subsists and that even though they respect the authority of the national body, the restoring the state chairman to his office must follow due process. However, in a compromise move,

Kekemeke declared that he would not be exercising his right to vote in Saturday’s governorship primary election of the party. Kekemeke spoke yesterday after a troubleshooting parley conveyed at the instance of the national leadership of the party in Abuja. “I have said repeatedly that I do not prefer any of the aspirants but I have also no power to deny anyone the constitutional right to prefer any aspirant. All I know is that I don’t have a preference, I have a vote. In the interest of perception, I did announce to the state working committee over two months ago that I was not going to vote. “My preferred aspirant is the one that is able to garner the majority of votes, to get the highest endorsement and the about 3,000 delegates would determine my preference”, he said. He also denied knowledge of his removal from office, saying “the National Working Committee (NWC) has told you that they are not aware of that (removal) and I am also not aware”. However, Vice Chairman of the party in the state, Ade Adetimilehin, who is opposed to Kekemeke, said: “The meeting warned the state chairman not to use the party machinery to endorse any aspirant because he h a s b e e n doing that. As regards his removal, the NWC assured that they would look into it. Nobody asked us to go back to the status quo. The national body said they will look into the vote of no confidence passed on M r. K e k e m e k e . ”

ENUGU NOW A HUB

L-R: Assistant Captain, Ethiopian Cargo Airline, Daniel Bogale; Captain of the airline, Williams Williams; Enugu State Governor, Hon. Ifeanyi Ugwuanyi; his deputy, Mrs. Cecilia Ezeilo; and business mogul, Mr. Arthur Eze, during the historic first landing of a cargo aircraft at the Akanu Ibiam International Airport in Enugu...yesterday

Amosun Backs Review of Revenue Sharing Formula Say Ogun earns N6bn as IGR Onyebuchi Ezigbo in Abuja

revenue sharing in the country based on indices generated The Ogun State Governor, several years ago and not on Senator Ibikunle Amosun, present contribution to the has advocated an overhaul of federation account. the existing revenue allocation “I believe that if our formula in the country to institutions had been make it fairer and equitable. strengthened, people will At a time most states in not need to call for the the country are groaning over restructuring of the country dwindling resources and are at all because we will, abide unable to pick their wage bills, by our constitution. But you the governor said his state have a scenario where people has recorded an increase in do what they like, even in internally generated revenue project distribution, dividends to the tune of N6 billion per of democracy among other. month. “Look at fiscal federalism, if Amosun, who addressed you had followed what is in participants of the Course the constitution and everybody Nine of Executive Intelligence believe that the institution is Course of the Institute of greater than all of us, we will Security Studies in Abuja, said not be where we are today. though his did not support So, for me, any restructuring restructuring the country but that will affect the unity of anything that will allow for the country, I am not for it. equal distribution of projects, “But a restructuring that dividends of democracy will will say, there are certain be welcomed. thing that just need be done While buttressing his point, differently, I want that to Amosun said his state has the happen. For example, in highest number of industries Nigeria today, Ogun State in the country today, has the largest number of contributing significantly to industries, but when the the revenue generation efforts money is being distributed of the government, but is from the federations account, still placed 25th in terms of the state is placed about

the 25th position. These are indices that have been taken several years back and probably not in relation with what you contribute to the federal purse. “For me, that is restructuring and maybe reforming the revenue allocation formula, or people calling for state police. I have said I will support state police, but that does not mean we will not have federal police. “It is just about making amend I some areas, but not things that will not uproot our existence as a nation and those things that divide us. We should talk more and dwell more on things that hit us as a nation. It is even in diversity that we have our strength.” One said: Amosun also spoke of the need to strengthen the nation’s institutions as a means of laying solid foundation for the development of the country. Speaking on efforts to improve the state revenue, Amosun said: “When we came on board, we introduced cashless. We realised that anything that will make you come in contact with cash is subject to manipulation and so, we said we what cashless.

“For example, in one of our institutions, the highest revenue they were collecting was a little over N300 million and we told them this is what we wanted to do. The next time, they were able to generate N1.4 billion and we ask ourselves, where has that money gone into in the last few years. “As a government, we introduced what is now known as TSA in August 2011 when the present Minister of Finance was our Commissioner for Finance. When we came, we had over 700 different accounts and I ask myself how do we monitor all those accounts? “So, I told all the banks that I need one account from them, but if you like, you can have different subheads in your banks and jot that the government will have over 700 accounts. We also said we will partner with a maximum of three banks and today, we are happy for its that is why I can look them in the face and challenge the, to tell me the state that has performed like we have done,” he said.

T H I S D AY • WEDNESDAY AUGUST 24, 2016

NLC PROTESTS NASARAWA KILLLINGS…

FG Warns Nasarawa, Others against Reduction of Minimum Wage, Working Hours Our Correspondence Following the controversy surrounding the decision by Nasarawa State to reduce the salaries of workers in the state, the federal government yesterday warned the Nasarawa State government and other states to desist from reducing workers minimum wage. The Minister of Labour and Employment, Senator Chris Ngige, gave the warning yesterday in Abuja in a move to forestall peace between the state government and organised labour in the state. The protracted industrial crisis involving the Nigerian Labour Congress (NLC) the Trade Union Congress (TUC) and the Nasarawa State Government has led to several protests, resulting in the killing of some workers early this week. According to Ngige, the federal government had to wade into matter in order to restore industrial harmony and forestall the breakdown of law and order. He stated: "This is pursuant to the powers invested on him by section 5(1) & (2) of the Trade Dispute Act, Laws of Nigeria, 2004 and also predicated on a letter to the minister by the Governor Tanko Al-Makura of Nasarawa State for labour conciliation by the ministry." The minister said: “Similarly, to avoid further escalation of disputes of this type all over the states of the federation, state governments are hereby advised to always negotiate any issue that touches on the salaries and wages of workers, in order to ensure that they obtain a Collective Bargaining Agreement (BCA) before these remunerations are tampered with. “I wish to add for the avoidance of doubt that the issue of minimum wage flows out from the Minimum Wage Act, 2011. It is therefore a law of the land that must be respected by all in both public and private institutions. “In the same vein, the issue of arbitrary reduction in the hours of work runs against the International Labour Organisation (ILO) regulation; Convention 1, which has been adopted and domesticated by Nigeria. This law prescribes 8 hours of work in a day and not more than 40 hours in a week,” Ngige said. “Sequel to this, I hereby direct the unions to suspend the proposed picketing of government offices and demonstrations, and enjoin all parties to maintain the status quo ante pending the outcome of the meeting intended to resolve the issues in disputes,” Ngige stated. The minister said the call has become necessary in order "to draw the attention of all concerned to these issues in order to avoid unnecessary industrial relations disputes, which ordinarily could be averted through proactive meaningful dialogue." The parties have also been invited to a crucial meeting with the minister in order to find a lasting solution.

Peaceful Demonstration in Kogi over Extra-judicial Killings in Nasarawa

Following the killings of two civil servants in Nasarawa State few weeks ago by the police, the Kogi State Council of the Nigeria Labour Congress (NLC) yesterday held a peaceful solidarity demonstration over the extra judicial killings. The sate Chairman of NLC, Onuh Edoka, who led the protests, condemned the brutal murder of the workers and injuring of others who were protesting against the 50 per cent deductions in their salaries by the Nasarawa State government. He called on the federal government, the Inspector General of Police (IG) and the National Human Rights Commission (NHRC) to as a matter of urgency, investigate the unfortunate incident and ensure all those found culpable are brought to justice to serve as deterrent to others. Edoka noted that trade union movements have been parts and parcel of the struggles that brought about democracy in Nigeria, wondering why governors who are beneficiaries of the struggle have now turned autocratic and deploy security forces against defenseless workers who were demanding their legitimate entitlements. “Our governors have become military people in civilian uniforms. Government should not use the security forces to oppress the people. Government should treat workers with dignity and sense of respect because they are the ones who voted them to power,” he said. The chairman urged workers across the federation to remain resolute in the fight against all forms of injustices from the government, noting that no

(NLC), Mr. Ndiomu John-Bipre, that workers were attacked by persons loyal to the government during the last protest. While lamenting the purported attack, the NLC chairman said that many workers were battered by suspected thugs. He demanded investigation into the attacks on members at Yenagoa LGA, saying that if such a situation repeated itself, workers would be forced to shut down activities in the state. But Obuebite said: “NULGE has not officially said they were attacked by hoodlums or local government officials. On that day, they were addressed by their leader. And I personally went there to address them. It was peaceful even after we all dispersed.” On yesterday’s rejection of the 50 per cent salary payment by government, the commissioner noted that labour cannot take a unilateral decision after having a written agreement with government.

NLC Rejects 70% Salary Cut in Imo, Okorocha Hails Workers for Boycotting Protest

L-R Kaduna State Chairman, Public Joint Negociating Council (JPNG), Dangana Mattthew; National President (NUTGTWN), John Adaji; and Chairman NLC, Kaduna State, Adamu Ango, at the NLC protest rally In honour of the workers killed In Nasarawa State In Kaduna.... yesterday idris egaji amount of intimidation and coercion should be allowed to dissuade them. Workers

Protest in Kwara

Members of labour movements in Kwara State, comprising NLC,TUC,NULGE, NUT yesterday staged a peaceful protest across major streets of Ilorin, the state capital, over the killing of two labour leaders in Nassarawa State and non-payment of backlog of salaries of some categories of workers by the incumbent administration of Governor Abdulfatah Ahmed. Among those owed backlog of salaries by the state government are workers in the 16 local government areas in the state, workers in the state-owned tertiary institutions like College of Arabic and Legal Studies, Ilorin; Colleges of Education in Ilorin and Oro; the primary school teachers, staff of the State Universal Education Board (SUEB) and pensioners in the state. The protesters effectively guided on the streets by trucks of anti-riot mobile and regular police officers in order not to be hijacked by hoodlums, put on black T-shirts, went round the popular streets like Muritala Mohammed road, Post Office areas, Unity road enroute Taiwo road, Offa garage area and later to the Government House along Ahmadu Bello way where they were received by the Secretary of the State Government (SSG) who was the governor’s representatives, Alhaji Isiaka Gold, with their letters of protest. The spokesman of the protesters, who is the state Chairman of Nigeria Labour Congress (NLC), Yekeen Agunbiade, said the protest was in strict compliance with the directive of the national leadership of NLC, stressing that the protest was meant to draw the attention of the people of the state to the plight of civil servants in the state. Agunbiade who berated the security operatives for killing civil servants in Nasarawa State while demanding their legitimate rights, called for adequate compensation for the families of the victims so that the death of their bread winner will not be in vain, and also called on the appropriate authorities to investigate and ensure that the perpetrators of the acts are made to face the full wrath of the law to serve as deterrent to others.

Give Us Special Court to Prosecute States Owing Workers

The Enugu State chapter of the Nigeria Labour Congress (NLC) yesterday urged the federal government to set up special courts to prosecute states and local governments that cannot pay salaries of workers due to alleged diversion of allocations accruing to them. It also demanded the declaration of a state of emergency on states that owe arrears of salaries for upwards of two to three months. The Chairman of NLC in the state, Virginus Nwobodo made the call when workers of state joined other workers across the country to protest against

the alleged killings of civil servants in Nasarawa State by trigger happy policemen. They insisted that both the Federal Executive Council (FEC) and the National Assembly must work together to ensure that the necessary legal steps were taken to make it illegal for states to owe salaries. It was observed that workers in their hundreds protested on the major streets of Enugu metropolis, chanting solidarity songs for their departed colleagues. Some of the placards carried by the protesters read: ‘Police leave workers Alone’, ‘No to Police victimisation’, ‘Bring to books those behind the killing of our members’, ‘Police, Enough is Enough’, ‘Workers deserve their wages’, “Release our salaries and wages, why owe workers’. Addressing journalists shortly after the rally, Nwobodo, said the protest was to mourn the demise of their colleagues who were pressing for payment of their seven months arrears of salaries, stressing that the killing of the civil servants were the height of impunity and lawless in the country.

Anambra Workers Joins Protest

Anambra State workers under the aegis of Nigeria Labour Congress (NLC) also joined the protest over the killing of two workers of the Nasarawa State Government in July who were protesting against the government slashing of their salaries. The workers, who were dressed in black attires, matched through the streets of Awka and ended the protest at the popular Aroma junction where the NLC leadership addressed its members. The state Chairman of the NLC, Jerry Nnubia, while addressing workers, condemned the duo of Governors Tanko Al Makura and Rochas Okorocha of Nasarawa and Imo States respectively. Nnubia said each time there was a crunch in the country, workers were always asked to bear with the government, yet the governors and other political aides continue to live in opulence. Also, former Chairman of the union, Anthony Ugozor, said workers are not faring better in Edo State too, where its past president is the state governor. He said Edo State workers were being owed several arrears of salaries.

Bayelsa Govt Denies Attacking Labour, Strikes Deal with Lecturers

The Bayelsa State Government yesterday denied allegations that it mobilised hoodlums to attack workers who were on a peaceful demonstration in parts of the state. The government noted that it indeed directed that workers should be given adequate security when it came to its knowledge that the workers had concluded arrangements to embark on a demonstration. The Commissioner for Information in the state, Mr. Jonathan Obuebite, who spoke on behalf of the government was reacting to insinuations by the state Chairman of the Nigeria Labour Congress

For the umpteenth time, the Nigeria Labour Congress (NLC) in Imo State has rejected the salary cut of 70 per cent as agreed with the state government since February this year, as she accused the state government of derailing in the agreement. This came as the state governor, Chief Rochas Okorocha, eulogised workers who boycotted the much advertised labour organised protest against the “Back-to-Land for Agriculture” policy of the state government. In a protest carried out yesterday at the State Secretariat, the state Chairman of NLC, Austin Chilakpu, expressed dissatisfaction with the attitude of the state government towards the welfare of the workers and pensioners in the state, stating that the henceforth, workers would no longer accept anything less than 100 per cent of their salary. He also disclosed that workers in the state had rejected the state government’s recent policy of three working days in a week, insisting that such policy negates the International Labour Organization (ILO) convention which according to them, has Nigeria as a signatory. Among other demands of the labour in the state included the recalling of the over 200 illegally disengaged workers of the Imo Transport Company (ITC); bringing back the transferred workers of the Board of Internal revenue (BIR), Owerri Capital Development Authority (OCDA) and others as their transfer runs against the enabling rules, and stopping of victimisation of labour leaders in the state.

Workers Issue 21-day Ultimatum in Cross River

The Cross River State chapter of the Nigeria Labour Congress (NLC) has issued a 21-day ultimatum, warning that it would embark on strike if the state government refuses to honour the agreement both parties reached in October 2015. The NLC read the riot act to the state government yesterday as they accused the state Governor, Prof. Ben Ayade-led administration of owing some workers in the state three month salary as well as owing gratuity and pension to so many workers who have retired from the state civil service. Addressing the workers who had gathered at Freedom Park along Mary Slessor road in Calabar before embarking on a street protest, the state NLC Chairman, John Ushie, said the 2015 agreement consisted of a lot of demands that have not been met by the state government. Ushie said although the protest was mainly in solidarity with Nasarawa State workers, they were also using the protest as a warning to the Ayade administration of the looming strike. “As we talk now, many are ill and many are dying. What pensioners are passing through in the state is unfortunate and worrisome. “We are not here because of the gratuity and pension but because of the national rally called in solidarity with NLC in Nasarawa State. But, we want you to take note that we have given Cross River State 21-day ultimatum to obey the agreement they entered into with us in October 2015. “Among the issues is that of pension and gratuity. Another is the promotion of workers from 2013 to 2015. The third issue is that Cross River State government owes three months salaries. I say so because salaries are paid on net, but the government

WEDNESDAY AUGUST 24, 2016 • T H I S D AY

NEWSXTRA

Obasanjo: Nigerians Brought Buhari to Power, Not Me

Wole Ayodele in Jalingo

Former president, Chief Olusegun Obasanjo, has declared that no individual or group including himself can lay claim to bringing President Muhammadu Buhari to power. The former president, who stated this in Jalingo yesterday when he paid a

courtesy call on Governor Darius Ishaku, said Nigerians overwhelmingly voted for Buhari and as such nobody could claim to have brought him to power. Reacting to a media report that he claimed that he and a few Nigerians brought the president to power, the former president and head of state said the report

Ijaw Activist Warns Buhari against Negotiating with Niger Delta Avengers Sylvester Idowu in Warri A prominent Ijaw activist, Mr. Joseph Ambakederimo, yesterday warned President Muhammadu Buhari against any negotiations with members of the Niger Delta Avengers or any group bombing oil facilities in the Niger Delta region. He noted that militant groups masquerading as agitators for the underdevelopment of the region should be treated as criminals in line with the laws of the country. Ambakederimo, who spoke during an interactive session with Journalists in Warri, insisted that the constitution spelt out those legitimately allowed to bear arms, notably the military and paramilitary, stressing that others should be dealt with as criminals. “I don’t want to mentions the name, its sickening when they mention that name in my presence. They are just criminals and should be treated as such,” he said apparently referring to the dreaded Niger Delta Avengers (NDA). The activist noted that it was high time the people started asking their leaders how they managed the resources in their care for the development of their areas instead of blaming the federal government. He wondered what the

was not just untrue but malicious. Obasanjo, who came to Taraba State on a five-day working visit to inspect some of the key projects he initiated while in office particularly the Mambilla Hydro power project, said the election of President Buhari was an overwhelming decision of the generality of Nigerians and it was inconsiderate of any single person or group to claim the glory. “I was astounded by media reports quoting me to have said that I and a few other persons brought President Buhari to power to save Nigeria. I never said that because it is not true. Nigerians voted overwhelmingly for the president and we are all witnesses to that fact. No

single person or group can claim that glory,” he said. Stressing that he has spent most of his life trying to better the lot of humanity generally and Nigeria specifically, he stated that he was motivated to do even more now that he was approaching the end of his life and promised to help in any way possible to explore the enormous resources in the state. “Taraba State is a blessing to Nigeria. The potentials in the state can turn the fortunes of the country for good. The Mambila Hydro Power project alone has the capacity to generate more than half of our present power capacity in the country. “The livestock potential in the state spans all known livestock in the country

In a renewed effort to check incessant clashes between nomads and farmers across the country, 10 state governments have allocated land for grazing of cattle to Fulani herdsmen. Niger State which is among the states, reserved 30,000 hectares of land in Bibi town in Maria Local Government Area of the state. Governor Abubakar Sani Bello who made this known when he received the national leadership of the Mayetti Allah Cattle Breeders Association led by its President, Alhaji Mohammed Kiruwa, said government was still searching for land in other local government areas to be used as grazing reserves by herdsmen. Bello who decried the frequent clashes between farmers and nomads, expressed the hope

enjoined them to embrace peaceful coexistence, tolerance, mutual respect for each other and respect the sanctity of human life. Welcoming the former president to his office, Ishaku described Obasanjo as one of the greatest assets that God has blessed Nigeria with adding that the younger generation of politicians must emulate his leadership skills to be great. Ishaku however maintained that the pathetic state of the country’s power sector should be blamed on those who worked with the former president saying they were the ones that frustrated the execution of most of the projects initiated in the power sector during Obasanjo regime.

governors in the Niger Delta States and all the intervention agencies established for the development of the region did with all the federal allocations that accrued to the area. Ambakederimo, who is the convener of South-south Reawakening Group and hails from Bayelsa State, was particularly angry with former President Goodluck Jonathan for not taking the advantage of his position then to develop the region along with all others regions in the country. “So what are those miscreants agitating for? They should hold their leaders responsible. They should make them to account for their stewardship while in office. “So much money have come into the region and there are nothing to show for it and now you say you are carrying arms against the state for underdevelopment of the region. We must call our leaders to account for their actions,” he added. The Ijaw activist noted that the Niger delta had not played politics of opposition since 1959 till 2015 because of formidable alliance between the region and monolithic north until last year, adding “we lost that opportunity last year due to L-R: Bauchi State Governor, Alhaji Mohammed Abubakar; Vice President, Prof. Yemi Osinbajo; and Chief of Army Staff, Lt. Gen. Tukur the selfishness of a few people Buratai, during the official launch of the reviewed National Counter Terrorism Strategy (NACTEST) in Abuja....yesterday ENOCK REUBEN in the region.”

TIPS ON COUNTER-TERRORISM

Court Stops Fayose’s Ex-parte Motion against

10 States Allocate Grazing EFCC, ICPC Lands to Herdsmen Olakiitan Victor in Ado Ekiti of the state’s accounts by the Olaleye Dipo in Minna

including cattle rearing and poultry all in commercial quantities. The tea factory is a symbol of national greatness, while the tourism potentials can attract global tourists and earn the nation good foreign exchange “Since I have spent most of my life doing good for humanity and Nigeria, I am motivated to do even more now that I am approaching my evening. I will therefore do everything to ensure that the potentials in Taraba generally and the Mambila Plateau specifically are optimally explored to make the nation great.” Extolling the virtues of Ishaku, the elder statesman called on the people of the state to cooperate with the governor in his bid to make the state great just as he

that the gesture would bring to an end such ugly incidents. The governor who said the grazing reserve in Bibi town was capable of accommodating all the cattle in the state, added that government would establish a veterinary clinic in the grazing reserve, promising that the necessary drugs and manpower would also be provided. Responding, the National President of MACBA, Kiruwa, said the association was working towards ending the incidents of cattle rustling through a collaboration with stakeholders in the cattle business. He said the association was already collaborating with the National Union of Road Transport Workers (NURTW) and cattle traders to identify the real herders as a way of curtailing the rising cases of cattle rustling.

The Ekiti State High Court sitting in Ado Ekti yesterday refused the ex-parte motion brought by the State government to stop the antigraft agencies from probing into the finances of Governor Ayodele Fayose’s government. Defendants in the suit are the Speaker of the House of Assembly, EFCC, Independent Corrupt Practices and Other Related Offences Commission (ICPC), Department of State Services (DSS), Commissioner for Finance, Accountant General and five banks doing business with state government and the managers of those banks. The state government, represented by Attorney General and Commissioner for Justice, Mr. Owoseeni Ajayi and Ahmed Raji (SAN), had earlier filed the application, seeking to halt the impending probe

EFCC and ICPC. Another relief sought by the plaintiffs was an order stopping the arrest of the Commissioner for Finance, Accountant General of the state and the managers of the affected banks. During the probe of some accounts belonging to Fayose in some banks allegedly containing the N1.299 billion emanating from the office of the former National Security Adviser, Sambo Dasuki to fund governor’s governorship election, the EFCC also accused Fayose of taking kickbacks from some contractors handling major projects in the state. The anti-graft agency accused the governor of using the proceeds to purchase multimillion assets in Lagos and Abuja. On that premise, the antigraft agency wished to conduct

a comprehensive probe into the financial transactions of the Fayose’s government. When the matter was mentioned on August 16, the Attorney General and Commissioner for Justice brought the ex parte motion , to restrain the anti-graft agencies from arresting and or detaining any accounting officer of the state for the purpose of carrying out the impending probe. But during yesterday’s proceedings, the presiding judge, Justice Cornelius Akintayo blatantly turned down the application. Justice Akintayo ordered the applicant to convert the ex parte motion to motion on notice and that all the parties in the matter should be served accordingly . The judge averred that the conversion the ex-parte motion to motion on notice would give all the parties the opportunity to

be heard in the matter, so that justice could be served. However, when the plaintiff’s counsel insisted that the motion on notice had been served on all the parties as an alternative way of ensuring expeditious trial of the matter, the counsels to the respondents had sought for adjournment to be able to file their counter-affidavits appropriately. Specifically, the ICPC’s lawyer contended that she has just been served the motion on notice and that she needed time to peruse the application to be able to file the reply accordingly. Granting the application, Justice Akintayo adjourned the matter to August 29 for further hearing, saying the date falls within the seven days the constitution mandated the defendants to file their counteraffidavits.

WEDNESDAY AUGUST24, 2016 • T H I S D AY

NEWSEXTRA

Aviation Sector Workers Protest Planned Airport Concessions Ministers keep mum over protests

Chinedu Eze in Lagos, Bassey Inyang in Calabar, Dele Ogbodo in Abuja and Ibrahim Shuaibu in Kano Workers of the Federal Airports Authority of Nigeria (FAAN) alongside its two affiliated unions, yesterday embarked on a peaceful protest across some states of the federation over the plan by the Minister of Aviation, Hadi Sirika, to concession the four major viable airports in the country. Sirika had told Nigerians that the decision to concession the airports was borne out of government’s desire to have effective and efficient management of the airports and adequate utilisation of the abundant skilled manpower in the aviation sector. In a protest march at the Nnamdi Azikiwe International Airport (NAIA), Abuja, the Chairman of the National Union of Air Transport Employees (NUATE), Abuja branch, Mr. Lanre Popoola, said government should concentrate on developing the airports have low capacity utilisation of which its facilities. According to him, Lagos, Abuja, Kano and Port Harcourt airports remain the country’s vibrant assets and therefore should not be sold out to private sector players. He said: “We are not saying they should not concession airports; they should go to dormant airports like Minna, Gombe, Akure and Katsina that are not vibrant. “Abuja airport, the Lagos airport, the four vibrant airports are the heritage of our nation. We are not going to allow some contractors, all in disguise of being a minister to come and sell our heritage. “We are not going to take that any longer. We must put a stop to this, this is going to be

a continuous exercise, we are not going to relent until we have sent them out and our message must be carried straight to President Muhammadu Buhari.’’ The chairman urged the minister to have a rethink on the concession plan, adding that Buhari is a man of integrity and should not allow any body rubbish him. He alerted that there was illegal recruitment going on in all aviation parastatals without any vacancy publications, stressing that it has become necessary for anti-graft agencies to wade into the employment racketeering. In Kano, the Chairman of Air Transport Services Senior Staff Association of Nigeria (ATSSSAN), Ahmed Lawal Fagge, who spoke on behalf of NUATE and NUP at the Mallam Aminu Kano International Airport, said the concession of the four viable/major airports would lead to the death of 6,000 FAAN workers. Fagge said some cartels in the government are only interested in buying the viable airports and concession them Turkish investors. He said the move would lead to a serious national security breach as well as economic terrorism in which the workers union would mobilise and protest against any such attempt in the name of airport concession. THISDAY learnt that the protesters were carrying placard with inscription such as ‘Cartel in government are interested in buying the four viable airports, our airports cannot be sold in bits,’ ‘airport concession is economic terrorism and workers say no to airport concession.’ The chairman also called on President Muhammadu Buhari not to succumb to the mindset of the aviation minister

GOTV Launches LITE Bouquet Ugo Aliogo and Chinenye Nduka As part of efforts to ensure that GOTV subscribers in Nigeria continue to enjoy media content of the paytelevision network, the company has launched a new bouquet known as GOTV LITE. The bouquet which is very cheap to afford, has a subscription plan of N400 monthly, 1,050, (for three months) and 3,100 yearly. Speaking at a press conference to launch the new bouquet, the Marketing Manager, GOTV, Johnson Irase, stated that the new bouquet would help meet the religious, sports, music, news and entertainment needs of subscribers, adding that the bouquet which has two audio television, Naija and Wazobia, will be launching more channels by middle of September.

Irase explained that since the launch of GOTV in October 2011 in Ibadan, its network reach has spread to 24 states including the Federal Capital Territory (FCT) and this has enabled more homes to join the digital television revolution. “Since its launch, we have witnessed the price reduction drop dramatically for subscribers to enjoy the beauty and entertainment on the paid television. We have also increased the number of channels on the paid television. It is very affordable and the cheapest in the paid television market, offering subscribers more options. It is very flexible and has about 21 channels and two radio channels. Here we are offering so much content for less. We are sponsoring Ikorodu United football club and also boxing as part of efforts to help the community.

to concession the four viable airports, namely, Abuja, Port Harcourt, Lagos and Kano. In Lagos, there was severe gridlock at the Murtala Muhammed International Airport (MMIA) when aviation workers under the aegis of NUATE and Air Transport Services Senior Staff Association, (ATSSSAN) staged protest against the planned concession of four international airport terminals by the federal government. The workers who trekked from the General Aviation Terminal (GAT) to the international wing of the airport caused heavy traffic as they blocked the link road between the domestic and international terminals of the airport. Since the idea was muted by the Minister of State for Aviation, Senator Hadi Sirika, about two months ago, the workers have kicked against it and said the only condition was that the terminals would be concessioned to them. Sirika said the major international airports in the country located in Lagos, Port

Harcourt, Abuja and Kano would be given out in concession first before others would be considered. The workers said going by the experience when the defunct Nigeria Airways was liquidated and the workers were not paid their severance package and many of them died in penury, they would not wait to suffer the same fate, but must fight against the concession. Speaking at the Freedom Square, where the workers assembled for the protest on behalf of the unions, the acting General Secretary, NUATE, Olayinka Abioye and General Secretary, ATSSSAN, Francis Akinjole said that the workers would resist any attempt by the government to concession the four airports. They alleged that the unions were aware that some organisations were already coming forward to buy these ‘viable airports, adding that the unions cannot mortgage the destiny of over 6,000 workers of FAAN into the selfish hands of few political cartel or individual

concessionaires. They warned interested parties to stay off from the concession transactions and observed that in the last three months there had been uncontrolled employment and improper placement of certain category of staff without recourse to the Federal Character and Public Service Rule, describing such action as a ploy to render FAAN insolvent for them to acquire. However, they noted that the Minister, Sirika gave assurance that the interest of Nigerians would not be jeopardised in the concession process of the aforementioned airports. In Calabar, FAAN workers equally staged a peaceful protest against the plans to concession the airports to private sector. The four airports are Lagos, Port Harcourt, Kano and Abuja. The protest was in form of a rally staged at the premises of the Margaret Ekpo International Airport. Addressing workers during the rally, the chairman of Air Transport Services Senior Staff Association of

Nigeria (ATSSSAN), Idisi Ambrose, said the workers completely reject the plans to concession the four airports because it would not serve the interest of air transportation in the country. Ambrose said starting the policy with the four airports would be counter-productive to the nation’s aviation sector. He said the thinking of the workers is that the other airports in the country such as Calabar should be made to be more viable before the contemplation of concession of any airport. However, the Minister of Transportation, Mr. Rotimi Amaechi and Minister of State for Aviation, i Sirika, both kept sealed lips over the protests. Text messages sent to both ministers were not responded to. Also, their lines could also not be reached even after several attempts. But speaking with THISDAY on condition of anonymity, a top official of the ministry hinted that Sirika was presently out of the country, adding that at the appropriate time, the permanent secretary in the ministry would respond.

STRATEGIC MEETING

L-R Deputy Chairman , National Executive Committe (NEC), Arewa Consultative Forum, (ACF), Alhaji Musa Liman Kwande (left), and Wazirin Bauchi, Alhaji Bello Kirfi, at the ACF 2016 annual general assembly in Kaduna...yesterday IDRIS EGAJI

Vitamin A Cassava, Maize Not GM Crops, Say FG, Experts

Crusoe Osagie

Stakeholders in the scientific community and agricultural sector, including the Federal Ministries of Science and Technology; Environment and Agriculture and Rural Development, have all affirmed that the vitamin A-enriched cassava and maize are not Genetically Modified (GM) crops. The submission was made at an experts meeting themed Biotechnology and Biosafety— Genetically Modified Organisms (GMOs), organised by the three ministries and the National Biosafety Management Agency (NBMA) in Abuja, and comprised representatives of the Civil Society Organisations (CSOs) and the academic community.

The Minister of Environment, Amina Mohammed, noted that the meeting was a starting point for conversations on GM crops and the larger public would have the opportunity to weigh in. She said there was a communication gap between the scientists and the public about what is and what is not. On the concerns about vitamin A cassava and maize, participants at the gathering agreed that the crops were not genetically modified, as they were bred through conventional agricultural methods. The Country Manager, HarvestPlus, Paul Ilona, who was at the meeting, said the declaration had settled the argument raised by the anti-GMO group against the crops, adding that HarvestPlus

has always been known to pride in its mission of helping the rural poor in overcoming malnutrition and improving public health using conventionally bred staples. He added that the commitment to the cause has received enormous boost by the announcement, which, he said, would encourage the organisation and its partners spread across Nigeria, who are involved in the delivery of biofortified crops to Nigerians. Top government dignitaries in attendance at the meeting included the Ministers of Agriculture and Rural Development, Chief Audu Ogbeh; Environment, Amina Mohammed; Science and Technology, Ogbonnaya Onu, among others.

The meeting came on the heels of public anxiety over genetically modified crops, which formed part of efforts to douse tension and provide a framework for government policy on managing the concerns. The organisers said the meeting would also help in identifying a set of actions to be taken by government at all levels, including non-governmental organisations to address public concerns on the safety of (GM) crops and feeds, on biodiversity and other socio-economic issues. There were also discussions on ways to strengthen the National Biosafety Management Act 2015 with a view of proposing areas of possible amendment and or review.

WEDNESDAY AUGUST 24, 2016 • T H I S D AY

NEWSEXTRA

Police Seal Kwankwaso’s Residence in Kano Withdraw after 15 hours siege

Ibrahim Shuaibu in Kano

Heavily armed policemen yesterday sealed the Kano residence of the former

governor of the state, Senator Rabiu Musa Kwankwaso. The residence which is situated at Lugard Road, is a few minutes drive from the

INEC Picks October for Repeat Re-run Elections in Rivers Onyebuchi Ezigbo in Abuja

state Government House. Kwankwaso’s residence which also serves as headquarters of Kwankwasiyya movement, was sealed over an alleged plan by the former governor to conduct a mass wedding. Confirming the sealing of the residence, the state police commissioner, Mr. Rabiu Yusuf, said: “We have directed our men to seal the residence because of an intelligence report that there is a plan to conduct a mass wedding at

the house” Rabiu spokes through the police spokesman, Magaji Musa Majia, noting that “Police did not permit any mass wedding at the residence.” However, an insider of Kwankwasiyya movement told THISDAY that “The mass wedding was conducted on Monday secretly with the attendance of only the brides, grooms and next of kin including some selected Islamic scholars.” Meanwhile, 15 hours after

laying siege at the residence, the armed police officers were withdrawn. When THISDAY visited the Lugard road residence of the former governor, it was observed that the gate was under lock and key. However, the Kwankwaasiyya faithful were noticed outside the building in groups, speaking in hush tones, over what they described as an unpleasant development. The link roads to Kwnankwaso’s Lugard

residence that were initially cordoned off had been opened to free flow of traffic. As at the time of filing this report, sources close to the Kwankwassiya Movement, said the withdrawal of the police officers was sequel to an alleged complaint made by Kwankwaso to higher authorities over the rationale behind such action. The seal up of Kwankwaso’s residence was over alleged plan by the ex-governor to conduct mass wedding in the house.

the elections.” Zakari informed a forum The Independent National consisting of political leaders Electoral Commission (INEC) and candidates of the 28 political has said it is determined to parties that participated in the conclude the suspended Federal re-run elections that INEC was and State Constituency elections determined to conclude them in Rivers State in October this and had earlier fixed the date year. on July 30. She regretted that In a statement issued by it could not hold because of the commission yesterday, security reasons, non-compliance National Commissioner in of the political class with the charge of Electoral Operations, peace resolution signed by them Hajiya Amina Bala Zakari, was and the arson which took place quoted as having expressed the at INEC’s Bori Khana LGA commission’s resolve to conduct Office on July 21, 2016. all outstanding re-run elections. She stated that in spite She urged stakeholders, of the efforts of mediators, especially members of the the conditions earlier set as political class to co-operate precedent for the conduct of with the commission in order the elections by the Commission to bring this about. were not met in Rivers State. She Zakari emphasised that said that the elections in Imo INEC was non-partisan and and Kano States were conducted was interested in strengthening because they satisfied INEC’s Nigeria’s democracy by conditions. providing political parties and Also speaking at the contestants a level playing field. forum, the INEC National She said that the commission Commissioner supervising was worried that some the South-south Zone, Dr. parts of Rivers State had no Mohammed Mustapha Lecky, representation at the National expressed the readiness of INEC and State Assemblies, hence the to conclude the re-run elections L-R: Lagos State Commissioner for Culture and Tourism, Mr. Folorunso Folarin-Coker; Minister of Information and Culture, Alhaji Lai convening of the Stakeholders’ once the security situation Mohammed ;and Founder of Terra Kulture, Ms. Bolanle Austen Peters, at the third festival colloquium of Lagos at 50 in Lagos...yesterday Forum to discuss issues improved. He appealed to the emanating from the conduct of politicians to ensure that the the May 19, 2016 re-run elections atmosphere was conducive for TROOPS ARREST SOLDIERS’ KILLERS IN BAYELSE, RECOVER AMMUNITION which were suspended as a the elections to be concluded. result of violence. In his comment, the disclosed that the source in Southern Ijaw Local Task Force Operation resoluteness during the She also explained that the Commissioner of Police, of wealth of the marauders Government Area, Bayelsa Delta Safe of its resolve to operation and reassured lawMarch 19 re-run elections were Rivers State, Francis Odesanya, was being depleted by the State. ensure peace and economic abiding citizens to go about suspended at various stages informed all of the readiness day, thereby making them “Several items including stability in the region. their normal businesses. due to violence adding that of the Security Agencies to more desperate. military accoutrements were “Fortunately, there are “We will do all within He also disclosed that recovered from them. In windows of opportunities our limit to ensure safe some “cooling off” period was provide a level playing field allowed by the Commission to for the re-run elections. He their sources of illegal pursuit of these discoveries, provided by the federal waterways for legitimate re-strategise on how to return promised to ensure adequate arms had also been boosted a coordinated patrol was government for an amicable businesses. I solicit for to the affected areas to conclude security during the elections. following the various further launched and resolution of grievances by cooperation from members political crises that have yesterday, 22nd August any aggrieved groups. of the public in providing ravaged African countries 2016, our troops at about “Rather than engage timely information as like Libya, leading to arms 1400 hours located and in heinous crimes or self we continue to fish out proliferation that have engaged these criminals in a help, they should seize the these criminals from their found their way into the shootout in which some of opportunity and embrace hideouts,” he said. country. them were believed to have peace or face the full wrath He also pledged the Only 355 Ministries, Babachir Lawal, had in October “The sources of acquiring been killed, three suspects of the law,” he stated. resolve of the JTF to stop all Departments and Agencies 2015, directed all MDAs to illicit wealth are being arrested and large quantities He also warned militants illegal oil bunkering activities (MDAs) of the federal submit the documents or face degraded, hence the resort of arms, ammunition and who have recently openly in the upstream sector and government have complied sanctions. to attacking our locations. the gunboat that was taken announced their secession protect oil and gas supply/ At the time, he had said You would recall that on from Nembe on 8th August plan, which they said would transport networks and stop with the directive to collate and submit 2014 procurement since the current administration Monday, 8th August, 2016, 2016 were recovered,” he take place on October 1, pipeline vandalism, protect records to the Bureau of Public upheld the rule of law, all at about 09.30hours, a group said. stressing that the military oil and gas facilities and statutory requirements of suspected to be members of Procurement (BPP). He added that the JTF would not joke with the installations and stop piracy BPP’s Head, Public Relations the Procurement Act would the Niger Delta Avengers conducted the operation unity of the country. in the Niger Delta region and Unit, Thomas Odemwingie, be enforced. disguised as a burial party, professionally and avoided “In the same vein, those Nigeria’s territorial waters. He said the records were attacked and killed four of collateral damage, noting misguided elements that disclosed this during an Okojie also vowed to, in interview with the News meant to give the government our soldiers at their duty that the security forces bear the unachievable collaboration with his men, Agency of Nigeria (NAN) in an overview of all procurement post in Nembe. would continue to sustain and unfortunate message stop foreign collaboration activities embarked upon Abuja yesterday. “They absconded with the approach, which is of disunity through the against oil industries and Odemwingie said of the by the various MDAs, a gunboat and some in line with global best declaration of imaginary any other sundry crimes that number, 146 complied with irrespective of approval ammunition. Since then, practices. independence must have debilitate the socio-economic the directive only after they thresholds. our own troops stepped “Let me use this a rethink. activities of the Niger Delta In March, queries were up operations in the areas opportunity to reiterate received queries from the “The Joint Task Force and Nigeria in general. issued to chief executives of hitherto inhabited by these the fact that no criminal believes these unscrupulous bureau. He announced that the JTF He also said the bureau had MDAs that had not complied. bandits. Consequently, on would go free, wherever elements have ample time had expanded its area of The query stated that the 13th August, 2016, our they are, be rest assured we and opportunities to channel operation to cover the whole at the end of June, compiled a list of 187 MDAs that had not erring MDAs were violating troops located and raided will get them and ensure their grievances properly,” of Bayelsa, Delta and Rivers complied with the directive. Section 16 (12 and 13) of the their hideout in a camp at they face justice. he warned. States, as well as southern The Secretary to the Public Procurement Act (PPA) Saraba creek near Okiama “Let me reaffirm the He commended the parts of Ondo, Akwa Ibom Government of the Federation, 2007. community in Okigbene commitment of the Joint “gallant troops” for their and Cross River States.

PROMOTING CULTURE

BPP: 187 MDAs Yet to Submit Procurement Records

WEDNESDAY AUGUST 24, 2016 • T H I S D AY

CRIME&PUNISHMENT

Shallow Graves Found in Home of In Brief Suspect Who Chained 13 Children, 35-year-old Man Remanded in Prison for 15 Adults Kidnapping Chiemelie Ezeobi

Following last weekend’s raid of the Ojodu home of a selfacclaimed prophet, Emmanuel Adeyemi, where the police rescued 28 people, including 13 children and 15 adults, who were chained, THISDAY yesterday gathered that detectives had also discovered shallow graves in the house and in the swamp behind the house. This is just as it was gathered that despite claims by the suspect that all those chained up were mad, the police were able to ascertain that one was a cancer patient, who had developed sores from being chained up. While 27 others had been taken to the Lagos State Government rehabilitation centre, one was however taken to the hospital, as she was very weak and had terrible sores gotten from the

chains. The Commissioner of Police, Lagos State Police Command, CP Fatai Owoseni, acting on a tip off, had deployed operatives at the Area G Command Headquarters, to the house located at Oyinbo Unity Estate, Olamidun Close, Yakoyo, Oke-Ira. Although the initial intelligence report was that a teenager, Adeyemi ‘s stepson, 17-year-old Toba Adedoyin, was chained, subsequent intelligence by the police revealed that 27 others were also locked up. Confirming the incident, Owoseni said they had initially invited the suspect to the station based on a tip off, and he claimed his chained up his stepson to cure him from the spirit of stealing. He said: “When we got information that a teenager was locked up in a house, the area Commander had invited

the suspect, who claimed that his son was known for stealing and so he locked him up in chains to cure him of stealing. “While we were still on that case, we got another credible tip off that there were other people chained up in that same house. “Of course, we carried out a raid and confirmed the allegation to be true. But before then, we had contacted the Lagos State Government because we don’t have the facility to keep the rescued persons. “His claims after he was arrested is that he is a herbalist, but why didn’t he tell us that when we first invited him to the station over locking up his stepson? He only told us that he wanted to cure his son of stealing. “ On allegations of shallow graves found at the residence, Owoseni said: “We had another

tip off that there were people he buried in that compound and he confirmed it during interrogation. “Because the area is swampy, the suspect had allegedly buried some people in the swamp and about three others in the house. “When we asked him of their identities, he said it was some of his patients that were brought to his home from the hospital, after they were given up for dead, that finally died in his care and were buried in the swamp. “When we also queried him on the claims that he used the body parts of the deceased to sell to ritualists, he swore that he was only a traditional healer and not a human parts seller.” Owoseni said investigation is ongoing, as the police is working assiduously to get the root of the matter.

A Magistrate Court sitting in Lokoja yesterday remanded a 35-year-old civil servant, Samson Manyude, in prison for an alleged armed robbery and kidnapping of a 70-year-old Edward, Amidu. A Senior Magistrate, Clement Kekere, who gave the order in his ruling on the said the offences for which Manyude was arraigned, said they were grievous and not ordinarily bailable. According to prosecution led by Sgt Oladele David, the complainant, Isah Amusa, reported the matter at the divisional police headquarters at Anyigba and the Criminal Investigation and Intelligence Department, Lokoja on June 14. The prosecution submitted that the complainant, Amusa, alleged that on the same date at about 3a.m. while he and his family were sleeping, they heard a knock on the door. When they asked who was at the door, a voice identified himself and others as officers of the National Drug Law Enforcement Agency (NDLEA) on investigation. The complainant said on opening the door, he saw some armed persons, wielding offensive weapons including guns and cutlasses, adding that from there, they proceeded to rob him and his family members at gun-point. Items forcefully taken from them by the alleged kidnappers and robbers, according to him, included five handsets of different brands, a pair of shoes, N3,000 cash and Union Bank ATM card. The gang, one of whom was later identified as Samson Manyude, he said, thereafter forcibly took his 70-year-old father, Amidu, into a waiting Volkswagen Golf car and drove off to an unknown destination. Amusa said a ransom of N600,000 was later paid to the alleged kidnappers before they released his father. The prosecutor, Oladele David, urged the court to give another date for mention, opposing granting of bail to the accused. He said investigation into the matter was in progress. Kekere in his ruling ordered that the accused be remanded at Federal Prisons, Dekina. He transferred the case to Chief Magistrate Court, Anyigba and adjourned to August 30, for further mention of the case.

Renewed Cult Clash Claims Three Lives in Benin

CAUGHT IN THE ACT

Suspected members of the Niger Delta militants who killed some soldiers recently being paraded with their weapons in Yenagoa, Bayelsa State ....yesterday

IG: How Police will Stamp out Robbery, Militancy, Others

Ernest Chinwo in Port Harcourt

The Inspector General of Police (IG), Ibrahim Idris, has enumerated measures being executed by the police to stamp out violent crimes in the country. This came as Rivers State government pledged continued support for the police despite the alleged use of the force to scuttle programmes in the state. The IG spoke yesterday during a lecture he delivered at a break out session tagged ‘Conversation with the IGP on Enhancing Security in Nigeria’ organised by the NBA/Police Lawyers Forum in the on-going 56th Annual General conference of the Nigerian Bar Association (NBA) in Port Harcourt. Idris, who was represented by Deputy Inspector General of Police (DIG), Hyacinth Dagala, noted that current security challenges in the country like

armed robbery, kidnapping, insurgency, militancy, murder and cattle rustling had placed more responsibility on the police to seek for new ways to confront the menace. “I and my force management team are committed and determined to reverse the trend. These vices will not only be stamped out of our national life experiences but perpetrators will be arrested and effectively prosecuted. “This will send a strong signal to the criminal-minded people and to the law-abiding citizens that it is no longer business as usual,” he said. He said, as part of operational strategy adopted by the police to enhance security in the country, the force had introduced technology-based policing. He listed scientific and intelligence-based policing, establishment of a crime data base, and establishment of

forensic laboratories in the six geo-political zones in the country as measures in that direction. “I have commenced the construction of a crime data base in Force Headquarters, Abuja, with a back-up office in Lagos. The data base will be connected to all police stations in Nigeria and ensure the recording of arrests as stipulated by the Administration of Criminal Justice Act (ACJ) 2015,” he said. He said the police data base would be linked to relevant agencies and communication companies to ensure an allinclusive data base for the country. On tackling insurgency, militancy and other crimes, Idris noted that violent crimes were gradually taking over the streets, neighbourhoods and communities in the country.

“The ability of the police to prevent, detect and prosecute those involved in these criminal activities will attract respect, trust and confidence,” he said. To achieve that, he said the police had initiated the reorganisation and restructuring of police special units such as police mobile force (PMF), the counter terrorism unit (CTU) and the special protection unit (SPU) and the border patrol unit, to make them more responsive to the security needs of Nigerians. He also listed collaboration and establishment of joint operation centres, increased motorised patrols and capacity building as components of the new drive. The inspector general also said, “The police under my leadership will no longer occupy a second place in the fight against corruption.”

Three persons have been reportedly killed in a renewed cult clash in Benin City, the Edo State capital. Among the dead was a man simply identified as Papa Obodo who was said to have been beheaded by suspected cultists yesterday afternoon in a clash involving members of the Aiye otherwise known as Black Axe and Eiye Confraternity group. Trouble was said to have began at a popular drinking joint around Sakponba Road in Benin City after a disagreement broke out between members of the two rival groups last Sunday. The disagreement as gathered later, took a worrisome dimension Sunday night when some gunmen suspected to be cultists, shot an unidentified man to death in the neigbourhood. Also yesterday, two gunmen reportedly shot at a man simply identified as Osaze at close range around Second East Circular Road within Benin metropolis. The victim was said to have escaped from the suspected cultists grip when they stormed his home in the neigbourhood, but according to an eye witness, the gunmen thereafter gave the victim a hot chase before firing at him. “They (gunmen) first hit Osaze with machete on the head and later shot him to death. The cultists were overheard chanting one, one score-line after killing their victim,” the witness said. Confirming the incident, the state Commissioner of Police, Chris Ezike, said the killing was as a result of the cold war between the cult groups. He said in June this year during a fight between the cult group, a member of one of the groups was shot dead, saying that yesterday’s killing was a retaliation.

Missing Scavenger Found, Police Investigate Mysterious Disappearance The scavenger, Zaradin Sani, who was allegedly kidnapped

at 31, Kayode Adebanji Street, off Unity Road, Ashamu Estate in Oke-Afa, last weekend, has been found, after operatives of the Lagos State Police Command tracked him from Ibadan to Kano. This is just as the command has begun detailed investigation into the mysterious disappearance with a view to unravelling what really transpired. THISDAY had earlier reported that the scavenger had in the company of colleague, gone into the said building to cart away a used fridge only to disappear, but had somehow managed to contact his colleague, who hitherto had been worried. The victim was said to have told his colleague that he was being held inside a particular compound with a cross sign in front. When news of his alleged disappearance filtered in, some scavengers numbering over 50, had stormed the said house to protest.

WEDNESDAY, august 24, 2016 • T H I S D AY

WEDNESDAYSPORTS

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

U-23 Team Arrive without Fanfare Femi Solaja Nigeria’s bronze-winning U-23 football team, tagged Dream Team VI, arrived the Murtala Muhammed International Airport Monday night without any official from the Sports Ministry or the Nigeria Football Federation (NFF) welcoming them from Brazil. However, there were some handful of passionate fans and family members of the footballers who were at the airport to welcome the athletes. The Nigeria U-23 team were without key players like John Obi Mikel and William Troost-Ekong who flew directly back to their base in Europe. The footballers won the nation’s only medal following their 3-2 victory over Honduras in the third-placed match as Rio 2016 came to a close on Sunday. Twelve players and seven officials, including coach Samson Siasia, returned to the country while others had returned to their various clubs.

Team captain John Obi Mikel had returned to Chelsea, while Haugesund defender Troost-Ekong, AS Trencin midfielder Kingsley Madu, Osmanlıspor’s Aminu Umar and AS Roma’s Sadiq Umar had also returned to their various clubs. Most of the fans at the airport were eager to see the footballers but were disappointed when they learnt that most of the foreign-based stars did not arrive with the team. Members of the Dream Team VI that arrived at the airport on Monday included, Olufemi Ajayi Junior, Saliu Popoola, Okechukwu Azubuike, Stanley Amuzie, Ndifreke Udo, Muenfuh Sincere and Ezekiel Imoh. The footballers and coach Siasia were lodged at the Sheraton Hotel, Ikeja and were expected to depart for their various destinations from Lagos yesterday as no official hosting plan has been announced for them by the NFF or the Ministry of Youth and Sports.

Under-23 team coach Samson Siasia surrounded by fans and members of Nigeria Football and other Sports Supporters club at the airport on Monday night

RUSSIA 2018 WORLD CUP

CAF LEAGUE

NFF Stalls Yusuf’s Contract

Enyimba Beats Sundowns in Final Group Game Enakeno Edhowo Nigeria League champions, Enyimba rounded up their final group game in their 2015/16 CAF Champions League campaign with a win against leaders, Mamelodi Sundowns of South Africa.

Mfon Udoh secured brace and his 9th in the competition as the Elephants rumped to a 3-1 victory over Sundowns in Port Harcourt. Enyimba who are already out of the tournament played for pride and got on the front foot from the blast of the

whistle as they took the game to their South African opponent whom rested several of their star names having booked their place in the next round of the competition. Two goals in the first half; sandwiched by a leveller from the visitors, got the People’s Elephant

underway in the first half; Uche John and Udoh the goal scorers. But Udoh was not done for the night and he returned after the break with his second goal and from the spot to wrap up an encounter played under very wet conditions.

LMC Files for ‘Stay of Execution’ of Court Order on Reinstatement of Giwa FC Salisu Super Eagles chief coach Salisu Yusuf has not secured a contract with the Nigeria Football Federation (NFF) several weeks after Gernot Rohr sealed his own deal. Before his appointment as the country’s chief coach, the 54-year-old Yusuf was assistant coach and then caretaker coach of the national team. He was on a salary of two million Naira a month before his latest appointment. An NFF official disclosed to Africanfootball.com that “Salisu Yusuf was to have discussed and agreed on his own contract after he led the NPFL All-Stars on a playing tour of Spain recently, but all the top officials who would have attended to him were overseas on official assignments.

“He does not know what is on the table for him as no one has discussed the contract with him. “It is now hoped he will seal his own contract at least before the AFCON qualifier against Tanzania in Uyo next month.” He is expected to enjoy a pay rise as he will work with Rohr, who is on a monthly salary of $47,000 (over 18 million Naira),as well as head the homebased Super Eagles. Like Rohr, he is expected to be handed a two-year contract. The contracts of both coaches as well as some other national team coaches will be bankrolled by an oil company believed to be owned by Ifeanyi Ubah, proprietor of Nigeria premier league side FC IfeanyiUbah.

The League Management Company (LMC) yesterday filed an appeal against the Plateau State High Court order asking it to reinstate Giwa FC to the Nigeria Professional Football League (NPFL). The LMC, in its appeal filed by Chief Akin Olujimi (SAN),saying the Court of Appeal to set aside the interim order of the Plateau State High Court, Jos on several grounds of law and challenging the jurisdiction of the lower court to have granted the orders in the first place. In a related development, the League organisers also made an appearance through its counsel, Chief Akin Olujimi (SAN), before the High Court in Bukuru, near Jos-Plateau State presided over by MR Justice I.I Kunda and filed a motion urging the court to stay further action on the orders it issued last week. The order was made by the lower court in the suit filed by one Mustapha Abubakar, who claims to be suing for himself and Giwa FC, asking the Court to direct LMC to restore Giwa FC to the NPFL and reschedule

all matches of the club, among other prayers. But a new twist to the suit emerged when Giwa FC wrote to LMC to categorically dissociates itself from the suit filed by the said Mustapha Abubakar. In its letter to LMC, dated 22nd August, 2016, Giwa FC stated that it is not a party to the suit and has not instructed anybody to file a case on its behalf and, therefore, distance itself from the case entirely. Giwa FC’s disavowal of the suit is in compliance with the Written Undertaking that all Clubs in the NPFL individually signed and gave to LMC agreeing not to take any matter concerning NPFL to the ordinary courts, but rather to be subject to and be bound by the internal dispute resolution processes of NPFL and football governance, generally. This undertaken is one of the critical conditions demanded of any club or persons applying to participate in football activities globally The LMC gave five grounds for the appeal which included lack of jurisdiction by the

Jos High Court to hear the matter since the two principal defendants, the LMC and the Nigeria Football Federation (NFF) reside in Abuja and that the acts complained about which is the hearings and expulsion of Giwa FC also took place in Abuja. A second ground of appeal filed by the counsel to the LMC was that the Jos High Court Judge who granted the order as a Vacation Judge is only entitled to hear cases of urgency and there must be an affidavit of urgency filed with the papers to show the facts of such urgency before the court can hear the matter. The LMC contend that there was no such affidavit of urgency and therefore it was wrong for the court to have heard the matter and grant orders as it did. The LMC further averred in the appeal that it was also wrong of the Judge to have heard the case as a fundamental human rights case since Giwa FC Limited, the owner and operator of the football club and the football club itself cannot have fundamental

human rights. “The law is settled in Nigeria that only natural persons and not corporate persons can have fundamental human rights. This point, additionally, goes to the lack of jurisdiction of the court to hear the case”, the LMC stated in the appeal papers. Giwa FC’s letter buttresses and is a confirmation of LMC’s position from the beginning that the said Mustapha Abubakar is an interloper, who has no dealings or connection whatsoever with LMC or the subject matter of Giwa FC’s expulsion from NPFL, a decision which was reached with strict compliance with due process and the relevant provisions of the Framework and Rules of NPFL, 2015/2016 Season. LMC said yesterday that it will continue to explore all legal processes available to have this vexatious and frivolous suit thrown out of the judicial system. Hearing of the motion was adjourned till tomorrow August 25.

T H I S D AY • WEDNESDAY, AUGUST 24, 2016

WEDNESDAYSPORTS

Disgraced USA Swimmers Lose Sponsorship Four sponsors have dropped disgraced US Olympic swimmer Ryan Lochte, including swimwear manufacturer Speedo and fashion label Ralph Lauren. They were followed by announcements from skin care firm Syneron-Candela and Japanese mattress maker Airweave. It comes after Lochte lied about being robbed at gunpoint by a policeman after a night out during the Rio Olympics. Lochte, a 12-time Olympic medalist, has earned millions of dollars through endorsements. Speedo, the biggest sponsor of the four, said: “We cannot condone behaviour that is counter to the values this brand has long stood for.” Lochte, aged 32, said he respected Speedo’s decision, and thanked the company. “I am grateful for the opportunities that our partnership has afforded me over the years,’’ he said. Speaking on US talk show Today, Lochte said: “I made a mistake and I definitely learned from this. They put on a great Games... and my immature, intoxicated behaviour tarnished that a little.” Ralph Lauren, which has removed some of Lochte’s images from its website, said its sponsorship of the swimmer had been only for the Rio Olympics and would not be renewed. Ralph Lauren and Airweave both stressed that they would continue their support of the US Olympic and Paralympic teams. Syneron-Candela said: “We hold our employees to high

Members of Team Great Britain on arrival from Rio to London standards, and we expect the same of our business partners.’’ Speedo said it would donate a $50,000 portion of Lochte’s sponsorship fee to the charity Save The Children’s Brazilian operation. The value of Lochte’s Speedo sponsorship has not been disclosed. The contract reportedly expires this year after 10 years. The US business magazine Forbes calculated that in the year of the 2012 London Olympics, Lochte earned about $2m in sponsorships from companies

Barca Keeper, Bravo Arrives Man City

Bravo Claudio Bravo arrived Manchester Airport yesterday ahead of completing a move to Manchester City. As reported by Goal earlier, the goalkeeper was expected to arrive from Spain yesterday afternoon ahead of becoming Pep Guardiola’s ninth summer signing. Bravo will nearly double his salary with City, having accepted an annual wage of €6 million to leave the Spanish giants and become the Premier League side’s new first-choice goalkeeper. Bravo’s arrival, and Guardiola’s preference for

Willy Caballero in competitive action since the start of the Premier League season, casts further doubt over Joe Hart’s future. It is understood that Manchester City are yet to receive a bid for the England No.1, with Everton heavily linked, but reports earlier yesterday claim Hart could stay beyond the end of the transfer window. An official announcement of Bravo’s transfer could be delayed until later in the week as Barcelona look to tie up Ajax goalkeeper Jasper Cillessen as his replacement.

such as Gillette, Nissan, AT&T and Gatorade. Lochte’s performance at Rio did not reach the heights of his London triumph, but Forbes estimated his endorsements would still have been between $1m-$2m. The saga started when Lochte and three team-mates returned to the Olympic village after a late night out in Rio. They tried, unsuccessfully, to

use the locked toilet at a garage and urinated outside instead. After first claiming that he and his three team-mates had been robbed by bogus policemen, Lochte back-tracked and admitted he had, while still drunk, “left details out” and “over-exaggerated some parts of the story”. Despite the evidence against him, including CCTV footage, he has however denied that he

actually lied in his initial account to Brazilian police. Lochte’s behaviour has been met with disdain in the US and he has been widely pilloried in the US media. On 19 August the New York Post carried a front-page headline describing him as the “Ugly American”, along with the slogan “Liar, Liar, Speedo on fire”. Lochte is one of the most

successful swimmers in history, with 12 Olympic medals, and he once had his own reality television show in the US. In Rio, he swam in two events, winning a gold medal in the 4x200m freestyle relay along with team-mate Jack Conger. “We appreciate his many achievements and hope he moves forward and learns from this experience,” Speedo said of Lochte.

RIO PARALYMPICS

Russia Banned after Losing Appeal Russia will not compete at next month’s Paralympics in Rio after losing an appeal against a ban imposed for state-sponsored doping. The Court of Arbitration for Sport (CAS) upheld the International Paralympic Committee’s (IPC) ban on all Russian competitors. The IPC made the decision after the McLaren report detailed a Russian state-sponsored doping programme. Russian Prime Minister Dmitry Medvedev described the decision as “cynical”. Medvedev said “certain leaders of the Paralympic movement” wanted to “squeeze out strong competitors”, and he went on to call the decision “a blow to all people with disabilities, not just Russians”. The CAS panel, which plans to publish the full grounds for its decision later, said the IPC’s decision to ban the entire Russian team “was proportionate in the circumstances”. It added that the Russian Paralympic Committee did not file any evidence contradicting the facts put forward by the IPC. The IPC’s decision is in contrast to that of the International Olympic Committee (IOC), which chose not to hand Russia a blanket ban from the Olympic Games.

The IOC was widely criticised for ignoring the World Anti-Doping Agency (Wada) recommendation to ban Russia. Instead, each individual sporting federation was given the power to decide if Russian competitors were allowed to compete. A three-person IOC panel then had the final say. Pole vaulter Yelena Isinbayeva did not compete at the Olympics as Russia’s athletics team was banned In the end, more than 270 Russian athletes were cleared to compete at the Olympics, with Russia winning 56 medals in total and finishing in fourth place in the medal table. Russia had been set to take 267 competitors across 18 sports to the Paralympics. The Cas statement added that it had not looked at the “natural justice rights or personality rights” of individual Russian athletes in making its decision. Russia’s Paralympic team’s lawyer, Alexei Karpenko, confirmed the decision was final, saying they would try to file an appeal with the Swiss Federal Supreme Court, but it would take between one and two years for the court to consider the case. “So I’m afraid Russian Paralympians will not be going to the Games in any case,”

Karpenko added. IPC president Sir Philip Craven, who has described Russia’s anti-doping system as “broken, corrupted and entirely compromised”, and claimed it put “medals over morals”, said he was “greatly encouraged” by the Cas decision. He said it was “not a day for celebration”, adding: “We have enormous sympathy for the Russian athletes who will now miss out.” Margarita Goncharova, a three-time Paralympic gold medallist in athletics, is among the Russians who will miss out on competing in Rio “It is a sad day for the Paralympic movement,” said Craven. “But we hope also a new beginning. We hope this decision acts as a catalyst for change in Russia and we can welcome the Russian Paralympic Committee back as a member safe in the knowledge that it is fulfilling its obligations to ensure fair competition for all.” Russian sports minister Vitaly Mutko said the ban was “political” and “not within legal framework”, while lawyer Karpenko called it a “black day for the sports judiciary”. He said: “I can only express

huge disappointment at the ruling. The rights of Russian Paralympians have been blatantly violated. “Regardless of whether the Russian Paralympics Committee is guilty of the charges, punishing innocent athletes and not allowing them to defend themselves - which was an opportunity afforded to the Russian Olympics athletes - this is a flagrant violation of human rights.” Meanwhile, Dmitry Svishchev, the head of Russia’s parliamentary sports committee, described the Cas decision as “an inhumane act”. Speaking to the stateowned Tass news agency, he added: “[Cas has shown] an unprecedented impudence and lack of principle. How is it possible to bar the people who with their courage have earned the right to a proper life from the Games? “Whatever this court is called, it is an inhumane court. One can punish officials, coaches, but by no means should athletes be punished: when looking at what they do in spite of hardships and strain, one wants to pull off their hat. Such people should only be respected.”

Wednesday August 24, 2016

UT H

& RE A S O

Price: N250

MISSILE

BBOG to FG “We were promised that the president would visit Sambisa after becoming president. We were also told that within two weeks our girls would be rescued. But over one year now, there is no tangible statement about our girls. The presidency has stated, instead, that it is confused. They told us that our girls seen in the latest video was merely an arrangement.” – The Bring Back Our Girls (BBOG) group taking a swipe at the federal government for deceit as the promises made by the All Progressives Congress in the 2015 general election about the Chibok girls have not been fulfilled.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

Readings of the Boko Haram War

ome recent developments have shown that there are indeed different readings of the reported progress in the war against the Boko Haram terrorists. The official reading of progress because the capacity of the insurgents has been degraded is being seriously questioned by those suffering the humanitarian consequences of the insurgency. Observers both at home and abroad interpret the situation differently. Most of the criticisms of the prosecution of the war by the Nigerian state hinge on the handling of the human element of the crisis. Criticisms by human rights organisations fall into this category of views. Doubtless, the humanitarian dimension is central to the ultimate resolution of the crisis. Incidentally, an external view on the issue came from the visiting American vice president, John Kerry, who stressed in Sokoto yesterday the point of engaging with the people in prosecuting the war. According to Kerry, “… beating Boko Haram on the battlefield is only the beginning of what we must do … Building public trust in government also requires cooperation from the military and law enforcement. Extremism can’t be defeated through repression or fear.” Counterterrorism is, of course, on the agenda of Mr. Kerry as he visits some countries in the sub-region. It is instructive that this is the American reading of the situation. While Kerry is harping on carrying the people along, some events have put to test government’s capacity to bolster people’s confidence in the resolution of the crisis. For instance, there was a spectacle of security operatives barring the Bring Back Our Girls (BBOG) members marching to Aso Rock two days ago. This was a clear indication of the mishandling of the human dimension of the problem by the administration of President Muhammadu Buhari. Ironically, before the presidential elections last year the People’s Democratic Party (PDP) and spokesmen of former President Goodluck Jonathan accused the BBOG of working for the victory of Buhari’s All Progressives Congress (APC) with the calls for the rescue of the Chibok Girls. The APC, of course, admitted that some members of BBOG were sympathisers (or members) of the party. As the party in power then, the PDP saw the attention being drawn to the fate of the poor girls as portraying Jonathan in bad light in an electoral season. The only change that has taken place is that the rescue of the girls is now the responsibility of Buhari as the commander-in-chief and not anymore that of Jonathan. And the people are now saying, “no more excuses”! While Jonathan was in charge, government officials and agents of the state were inexplicably hostile to the BBOG campaigners. The campaigners who ought to be saluted and supported for asserting our collective humanity on this tragic episode were routinely harassed. The trend has unfortunately continued with the Buhari administration. A sobbing mother of one of the abducted girls questioned the claims of substantial progress by government in the war efforts. In good conscience, who could blame the poor woman for expressing doubts on Monday about the capacity of the Nigerian state when her daughter had been in captivity for 861 days? A more humane approach would require that government officials meet with the campaigners and explain things to them in a way to ease the pains of mothers hoping for the rescue of their daughters. You can’t be impatient with a mother whose daughter has been missing for 863 days now. It would be sheer inhumanity for anyone to do so. It is improper to unleash on the campaigners security

Abducted Chibok Girls operatives insisting on some “order’’ and “mandate” to stop the march. It turned out that the BBOG actually had some ideas to put across to government such as the creation of a “monitoring team ” for engagement of the people in the efforts to rescue the girls. They also proposed that negotiation with the insurgents should not be ruled out. Given the wide attention the abduction of the Chibok girls has received it ought to be clear to officialdom that in many quarters news of progress in the war front would be received with deep reservations without the rescue of the girls. Secondly, the condition of the Internally Displaced Persons (IDPs) deserves greater attention and a more honest and productive approach. The emergency nature of the problem which non-governmental organisations on ground in the northeast have harped on for months recently received an external echo. An alarm has been raised by the International Organisation for Migration (IOM) about the humanitarian crisis burgeoning in the camps of the IDPs in the northeast. It has been estimated that Nigeria is facing the humanitarian question of 2.2 million displaced persons. These persons lack basic needs of food, water, shelter and medical care. The situation is worse for children among the victims. It has been reported that tens of children risk dying daily in the camps if urgent care is not provided. The Doctors Without Borders have raised a similar alarm about the fate of the children in the camps. The insurgents have destroyed the homes and farms

of the displaced persons. Just like the BBOG, the IOM’s reading of the humanitarian dimension of the crisis is not as bright as the official explanation of the developments. Here is the verdict of the IOM Chief of Mission in Nigeria, Enira Krdzalic: “The condition of internally displaced people in the northeast is still very precarious. The majority are women, children

and the elderly.” In fact the Director-General of IOM, Wiliam Lacy Wing, puts in a sharper focus: “Conditions in the region have now deteriorated to a point where it now meets the criteria required to activate Level 3 Emergency Status, the highest level of humanitarian crisis”. So beyond the readings of the situation within Nigeria, external observers are warning against a humanitarian disaster. There is, therefore, the urgent need to balance the military activities with humanitarian efforts in the northeast. For instance, on a positive note, the Nigeria Airforce (NAF) is providing medical services to the people in some areas. In the latest efforts, the NAF has established a 35-bed field hospital in Bama for the care of the IDPs. Before then, the military organisation had established another hospital in Dalori, also in Borno state. The example shown by the NAF is that it is not enough to fight, it is also important to care for the displaced. The UNICEF seemed to have been overstretched in its efforts to provide medical care for thousands of displaced in the camps before the timely intervention by the NAF. Other organisations both at home and abroad should intervene in providing relief for the needy in the camps. The moral of the foregoing is that there should be a better coordination of the humanitarian efforts. The federal agencies state governments and private organisations involved in the relief efforts should work in unison for optimal use of the limited resources. The process of distributing the relief materials should be protected against the virus of corruption. All efforts should be made to stop the humanitarian crisis in the northeast.

There is the urgent need to balance the military activities with humanitarian efforts in the northeast

Printed and Published in Abuja by THISDAY Newspapers Limited. Lagos: 35 Creek Road, Apapa, Lagos. Abuja: Plot 1, Sector Centre B, Jabi Business District, Solomon Lar Way, Jabi North East, Abuja . All Correspondence to POBox 54749, Ikoyi, Lagos. EMAIL: editor@thisdaylive.com, info@thisdaylive.com. TELEPHONE Lagos: 0802 2924721-2, 08022924485. Abuja: Tel: 08155555292, 08155555929 24/7 ADVERTISING HOT LINES: 0811 181 3086, 0811 181 3087, 0811 181 3088, 0811 181 3089, 0811 181 3090. ENQUIRIES & BOOKING: adsbooking@thisdaylive.com