Wednesday 14th September 2016 by THISDAY Newspapers Ltd

Three Months after Force Majeure, ExxonMobil Resumes Export Crude oil price slumps 3% after IEA’s gloomy forecast

Ejiofor Alike with agency report Mobil Producing Nigeria Unlimited, a unit of ExxonMobil, will resume shipment of Qua Iboe crude, Nigeria’s largest grade of crude oil in October, three

months after the company had declared force majeure on the exports of the grade. This is coming as oil prices slumped three per cent yesterday following

another gloomy prediction by the International Energy Agency (IEA) on demand growth that suggested that oversupply in the oil market might persist for longer than

anticipated. ExxonMobil had declared the force majeure after it observed a leak caused by what it described as a “system anomaly” during a routine

check of its loading facility on July 14, this year. The cause of the leak was not clear, but the force majeure came just days after a militant group, the Niger Delta

CBN Warns Nigerians against Investing in Wonder Banks... Page 12

Avengers (NDA), claimed to have bombed the company’s 48-inch Qua Iboe crude oil export pipeline on July 11. But 24 hours after the claim by the militants, the company’s spokesperson, Todd Spitler, Continued on page 8

Wednesday 14 September, 2016 Vol 21. No 7811. Price: N250

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Senate to Investigate Recession as Saraki Calls for Collaboration on Economy Okonjo-Iweala suggests the way forward Obinna Chima in Lagos and Hammed Shittu in Ilorin Concerned by the worsening conditions of Nigerians as a result of the economic recession, the President of the Senate, Dr. Bukola Saraki, said yesterday in Ilorin that the Senate upon resumption next week, would probe the cause of the recession, stating that it

was necessary to know why in spite of budgetary provisions, many more citizens have receded below poverty line. “The Senate on resumption will respond to the economic crisis with a number of measures including getting managers of the economy to give account to the Continued on page 8

Forget Biafra, Buhari Tells Separatist Agitators Says Nigeria is big enough for all Tobi Soniyi in Abuja, DavidChyddy Eleke in Awka and Bassey Inyang in Calabar Separatists agitating for the independent state of Biafra in the South-east of Nigeria have been told in stern terms by President Muhammadu Buhari to perish the thought, saying the indivisibility of the country under his watch is sacrosanct. The president spoke yesterday in his Daura,

Katsina State home while receiving members of the National Youth Service Corps (NYSC) serving in the town and told them that in spite of the failure of leadership that engendered feelings of alienation, particularly in the South-eastern flank of the country, Nigeria was still big enough for all its people to live happily together. Continued on page 8

SALLAH... Arik Airline Resumes Operations CELEBRATING Ogun State Governor, Senator Ibikunle Amosu, celebrating Eid-el-Kabir with children at the Governor's Office, Oke-Mosan, after Temporary Suspension... Page 8 Abeokuta...yesterday

WEDNESDAY SEPTEMBER 14, 2016 T H I S D AY

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T H I S D AY WEDNESDAY SEPTEMBER 14, 2016

WEDNESDAY SEPTEMBER 14, 2016 T H I S D AY

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T H I S D AY WEDNESDAY SEPTEMBER 14, 2016

WEDNESDAY SEPTEMBER 14, 2016 T H I S D AY

RC 103022

T H I S D AY WEDNESDAY SEPTEMBER 14, 2016

WEDNESDAY, SEPTEMBER 14, 2016 • T H I S D AY

PAGE EIGHT

Arik Airline Resumes Operations after Temporary Suspension Chinedu Eze Arik, the airline with the largest fleet in the country, will resume full operation today after yesterday’s suspension of operations due to its inability to renew its aircraft insurance. “We have resolved the issues relating to the insurance. Our flights have resumed but our full operations will start tomorrow. Two flights are already leaving to Port Harcourt and Abuja this evening. We sincerely apologise to our clients,”

Adebanji Ola, its spokesman said in a statement. In another statement, the Group CEO, Dr. Michael Arumemi-Ikhide, apologised to its passengers and said the airline was fully committed to normal operations and minimise any unfortunate inconvenience to them. “Where flights have been cancelled, the airline will notify passengers through SMS and in such cases, passengers will be accommodated on first available alternative flight as soon as normal flight

operations resume,” he said. The airline had yesterday afternoon announced suspension of operations owing to difficulties in getting approval for its aircraft insurance. “Arik Air, West and Central Africa’s largest airline, has alerted all air travellers of a temporary disruption to its operations, pending approval of aircraft documentation related to insurance renewal,” the airline said in statement by Ola,” adding: “we working around the clock to resolve the necessary documentation,

which has been a challenge due to the long weekend holidays due to Ed-el-Kabir.” The development left many passengers stranded at airports across the country, many of whom were returning to work after the Moslem festival. According to international regulations, aircraft could not be allowed to fly without insurance, which is done for the total number of aircraft in the airline’s fleet. The airline, however, said in another statement

that flight operations were resuming after 16 hours of disruptions, apologising to its passengers across the country for the inconvenience the suspension of operations might have caused them, adding that it would get in touch with them to provide an update on rescheduling of their flights. “All customers are kindly advised to contact Arik Air’s Call Centre (01-2799999), Airport or City ticket offices or visit the airline’s Website (www.arikair.com) for further

updates. Passengers are also advised to check with the airline regarding the status of their flights before proceeding to the airport,” the airline said. Arik is the third domestic operator to suspend operations since the effect of the nation’s economic downturn began to hit the aviation industry. Aero Contractors and First Nation had suspended operations two weeks ago, citing difficulties in procuring forex for the maintenance of their fleet as their challenge.

tough recommendations as necessary,” he said. Suggesting a holistic approach to the efforts to pull the economy out of recession, Saraki said it had become necessary for the executive arm of government to accept his earlier offer of collaboration with the legislature and the private sector to resolve the prevailing challenges. “In every crisis, there is always an opportunity for positive reforms. In this regard, in order to solve this crisis, all hands must be on deck. Ideas should be sourced from all quarters. All arms of government, people of different political beliefs, from all socio-economic backgrounds and every part

of Nigeria must work together at this time,” he said. He said the Senate would take the lead in encouraging a collaborative approach to the nation’s economic revival by meeting with stakeholders in the private sector to ensure it collates a broad spectrum of opinions while formulating ideas to stimulate the economy. Saraki assured Nigerians that the Senate would play its constitutional role of providing the legislative framework for the revival and growth of the economy in the interest of the people. “We are going to have an exhaustive and comprehensive debate on fixing the country’s economy when we resume next week. We understand

the pains that Nigerians are feeling and we do not take this for granted,” he said. The Senate president called on all political leaders to show concern about the sufferings of the ordinary people, adding that it was necessary for leaders to always empathise with the people. He commended the people for their perseverance and understanding but pleaded with them to exercise patience, saying that the political leadership was genuinely concerned about their plight. Saraki said: “The positive attitude demonstrated by our people during the Eid-el-Kabir festival gave me hope that we,

in Daura memorable. He said the youths strongly believed in the programme of the president to reduce unemployment and create jobs for more Nigerians. Adebolu thanked the president for his personal gifts of cows, bags of rice and cash to corps members in the community for Salah celebration. But the MASSOB, which celebrated its 17th anniversary in Awka, capital of Anambra State, yesterday appeared oblivious of the presidential charge for unity as it said that it was sure it would achieve an independent state of Biafra without firing a shot. A statement by Mazi Stephen Okonkwo and Comrade Ugochukwu Onyema, Coordinator and Secretary of the group respectively in the state, said the group’s members were ready to commit their lives to the struggle for the restoration of the sovereign state of Biafra through non-vi olence. It dismissed claims of splinter groups from it, saying that such confusion was orchestrated by its

former leader, Chief Ralph Uwazurike, who had been expelled from the body by members who were disenchanted by his leadership style. "17 years of our long walk to freedom can never be jeopardised, compromised or corrupted,” it said, adding that: “The reformation and rededication of our new leader, Comrade Uchenna Madu, has brought back our lost confidence and trust on Biafra actualisation,” it said. The celebrations reverberated in Ikom, Cross River State as its members took to the streets of the sleepy town in commemoration of the founding of the group. The pro-Biafra agitators, who thronged Ikom town in the early hours of the morning from Ogoja, Ugep, Obubra, Obudu, Abi and other parts of the state, gathered close to the Ikom township stadium before embarking on a peaceful procession through some major streets of the commercial town. Scores of the MASSOB members dressed in uniforms, and waving flags symbolising Biafra, sang pro-Biafran songs

and the Biafran anthem as they marched peacefully during the short street work which took them through Okomo Layout to 4-Corners, about 400 metres from where they took off. Cross River State Zonal Leader of MASSOB, Samuel Okah, who led the street march said the event marked 17 years of peaceful struggle for the actulisation of Biafra as a nation for the people of the defunct eastern region of Nigeria. “It has been 17 years of peaceful agitation by the people of Biafra led by Chief Ralph Uwazurike; and we are making steady progress for the coming to fruition of our efforts which is a clear demonstration of the fact that peaceful efforts get more mileage than violence,” Okah said. Okah said there was nothing anybody could do to stop the actualisation of the Biafra nation because its time had come. He said it was high time President Buhari allowed people agitating for self-rule to go and chart a course for themselves as new nations.

Texas Intermediate crude fell $1.25, or 2.7 per cent, to $45.04. The IEA, energy adviser to over 26 industrialised countries, said a sharp slowdown in global oil demand growth, coupled with ballooning inventories and rising supply, means the crude market would be oversupplied at least through the first six months of 2017. IEA’s gloomy forecast came a day after OPEC also predicted oversupply in the oil market in 2017. IEA’s prediction contrasts

with the agency's last forecast a month ago for supply and demand to be broadly in balance over the rest of this year and for inventories to fall swiftly. The IEA's latest comments follow a surprisingly OPEC’s bearish outlook published in the cartel’s monthly Oil Market Report (OMR) on Monday. Oil traders were quoted as saying that the price falls were an indication that increasing oil drilling activity in the United States was still a concern.

SENATE TO INVESTIGATE RECESSION AS SARAKI CALLS FOR COLLABORATION ON ECONOMY people, making tough recommendations to the president on needed changes, formulating necessary legislative framework for economic recovery and undertaking wide consultations across the private sector,” he told journalists at his residence during the Eid-el-Kabir celebrations. Worries about the ailing economy were shared also by a former Minister of Finance, Dr. Ngozi Okonjo-Iweala, who offered some tips on the way out of the woods, saying effective handling of spiralling inflation, foreign exchange problem, fiscal deficit and debts control were key to resolving the current economic crisis. Okonjo-Iweala who spoke

on Aljazeera TV programme, The Stream, said focusing on the basic issues of macroeconomic stability was crucial to fixing the country’s economic challenges. Saraki, in his intervention, explained why the legislative interrogation of the executive management of the economy had become necessary: “We need to know why the promises of external borrowing have not materialised, why devaluation has not helped to strengthen the naira, why inflow of foreign currency has continued to dry up and interest rate is still very high? Doing this will help us to understand where we are, so that we can determine where exactly we want to

go from here.” Wondering why all the measures aimed at cushioning the effect of the recession built into the 2016 budget had failed, he said the Senate would interact with the executive to identify where the problems were. “The Senate intends to invite everybody involved in the management of the economy to address the Nigerian people through the parliament on the steps that are being taken to get us out of this mess. We fully intend to hold all those involved in the economic management of the country accountable. However, we will do so in a manner that is transparent and there will be no cover-ups. We will make

Continued on page 10

FORGET BIAFRA, BUHARI TELLS SEPARATIST AGITATORS Buhari advised NYSC members from the South-east serving in the town to tell their colleagues agitating for Biafra to forget it. The president also called on the country's youths to make Nigeria great again through the pursuit of knowledge, patriotism and commitment to values that promote national unity. “Tell your colleagues who want Biafra to forget about it,” he told the corps members from the South-east, adding: “Nigeria is big enough for us and potentially big enough in terms of resources.” There have been agitations, particularly among young people in the South-east, for a separate state of Biafra. Two groups — the Movement for the Actualisation of Sovereign State of Biafra (MASSOB) and Indigenous People of Biafra (IPOB) — have been at the vanguard of these agitations that have led to bloody clashes between the agitators and security agencies several times. But Buhari, in a statement by his Senior Special Assistant on Media, Malam Shehu Garba, said separation was not

the answer to their grievances, telling them that the nation had passed that route before with dire consequences. “As a military commander, I walked from Degema, a border town between the North and the East, to the border between Cameroun and Nigeria. I walked on my feet for most of the 30 months that we fought the Nigeria-Biafra civil war, in which at least 2 million Nigerians were killed,” he relived the experience to the about 100 corps members that came to visit him. He added: “We were made by our leaders to go and fight Biafra not because of money or oil, because oil was not critical factor then, but because of one Nigeria. “So if leaderships at various levels failed, it was not the fault of the rest of Nigerians who have no quarrel with one another. “So please tell your colleagues that we must be together to build this country. It is big enough for us and potentially big enough in terms of resources. "Those who work hard will earn a respectable living. I

have seen this country, I fought for this country and I will continue to work for the unity of this country." the president said. The president urged them to remain focused in life, pursue their dreams and reject those fanning the embers of discord and disintegration of Nigeria. He specially recognised corps members from the Niger Delta and South-eastern states serving in Daura and praised the vision of former Head of State, Gen. Yakubu Gowon (rtd), in setting up the scheme in 1973. Buhari said the scheme had promoted national unity and cohesion creditably by exposing young people to the uniqueness and cultural diversity of Nigeria. “I asked for those from the other extreme of Nigeria because I very much appreciate the NYSC scheme and whenever I see General Gowon, I always thank him for that,’’ he said. In his remarks, Mr. Egbewumi Adebolu, the Corps Liaison Officer in Daura, thanked the president for the honour of receiving them and making their stay

THREE MONTHS AFTER FORCE MAJEURE, EXXONMOBIL RESUMES EXPORT debunked the claim, saying “there was no attack on our facilities.” However, citing industry sources, Reuters reported that the company is offering an October-loading cargo of Qua Iboe crude oil, the first offer since the company declared the force majeure. It was not clear if the pipeline had been repaired, or if the company expected it to be back on stream in time to load crude in October. But the cargo is offered for October 8-16 loading at

a premium of $1.80 per barrel to dated Brent. A spokesman for Exxon said the force majeure remained in effect but did not give a timeframe on the resumption of operations. While ExxonMobil said at the time it declared force majeure that the export terminal was operating, traders said the company did not release a revised loading schedule for the crude exports. The last ship to load crude at the Qua Iboe terminal was the Ottoman Nobility

on July 9. One of the three other ships scheduled to load the crude had been near the terminal since July 12. A vessel loads one million barrel of the grade every three to four days, and exports of 250,000 barrels per day aboard eight vessels were scheduled for July. Before it declared a ceasefire recently, the Avengers had warned that if the company moved forward with repairs “something big…will happen,” and threatened to attack the

company’s workers, instead of blowing up its facilities. Shell-operated Forcados crude oil exports were halted since the Avengers attacked its subsea pipeline in February. In a related development, oil prices fell yesterday on concerns over increased drilling in the United States and as investors took profits after oil prices rose close to one per cent in the previous session. While the Brent crude was down $1, or 2 per cent, at $47.32 a barrel, the US West

T H I S D AY WEDNESDAY SEPTEMBER 14, 2016

CBN'S DIRECTIVE ON RECOVERY OF DELINQUENT CREDIT FACILITIES The Central Bank of Nigeria, (CBN) has recently directed all banks to periodically publish, in at least three national dailies, names of their delinquent debtors, whose accounts remain non-performing. Note that the details of the delinquent debtors will include their directors, subsidiaries and other related parties. In addition, the delinquent debtors in the category described above will be blacklisted by the CBN and barred from participating in the Nigerian Foreign Exchange and Government Securities Market. Notice is hereby given to all customers of United Bank for Africa Plc with non-performing facilities to immediately liquidate their indebtedness to the Bank. Failing the above, the Bank will be constrained to, amongst other measures submit the names to the CBN as well as publish the names and other relevant details in the national dailies as required by the said CBN directive. This will be exclusive of all other rights as the Bank may have to recover all sums due to it.

Signed: Management

T H S D AY • WEDNESDAY SEPTEMBER 14 2016

‘Over 60m Nigerians Have Mental Disorder’

STARTERS

Two-Minute Briefing NEWS Ogoni Clean up Funds Tear MOSOP Apart

Crisis is rocking the Movement for the Survival of Ogoni People (MOSOP) as the leadership is currently engulfed in a confidence battle over the role of the President, Legborsi Pyagbara, in its processes leading to the implementation of the United Nations Environmental Programme (UNEP) report on Ogoniland. Page 12

NEWS

WEDNESDAY

Ogoni Clea n up Funds Tear MOSOP Ap art Email davidso

SEPTEMBER

News Editor

n.iriekpen@thi

14, 2016 • T H

I S D AY

Davidson Iriekpe

sdaylive.com,

0811181308

Ernest Chinwo in Port Harcourt

wrote to Pyagbara demanding his resignation as MOSOP president’s MOSOP president Crisis is rocking for breaching nomination of HYPREP just for the Survival the Movement the socio-cultu the constitution of was just for his personal gains for his personal and ral pressure group. not for the interest (MOSOP) as of Ogoni People 9, said the of the Ogoni gains and not for the interest Chujor, in the the Ogoni struggle. the letter titled: struggle. of Pyagbara allegations against Ogoni currently engulfed leadership is ‘Gross were Administrative people.” The letter read in a confidence “I make bold battle over the Misconduct, “laced with facts“weighty” and in part: “I hate Fundamen to say He summarise role that affect our Legborsi Pyagbara,of the President, Constitutiontal Breaches of MOSOP say funds for our organisation to MOSOP is supposed so because age-long struggle.” my considered d that: “It is misappropr to nominate are any in its processes and High Handednes opinion that leading to the On the issue insisted that the allegations s,’ convinced iated, but we are fully son credible and respected Ogoni the implementation of appointme embattled MOSOP that until and or daughter into the United Nations of nt president levelled against the unless the HYPREP into the board of HYPREP Pyagbara Environmental president must explain the constitute sufficient Programme huge MOSOP is ready to honour governing council, while Pyagbara noted: “The sensitive , Dumie grounds for amount he (UNEP) report collected from as MOSOP President disciplinary action nature of to Ogoniland. on Federal the nominatio the proper constitution which is a be taken against Ministry of Environmen is supposed n of the MOSOP to lead MOSOP theoretical basis him if proven The MOSOP t on organisatio to be true.” as the watchdog president into HYPREP for our on president is also behalf of the group for the the is a very n, accused of breaching implementa I serious will launching be forced to of the Ogoni matter When contacted, talk about the clean-up UNEP report. tion of the Ogoni committee which the executive Media of the organisation the constitution noxious cycle I therefore He accused Pyagbaraexercise. , central committee to the MOSOP president, Adviser un of spending funds by receiving and handedly of single- andapproved expenditures, deceit the immediate resignationcall for and congress Bari-ara Kpalap, however are supposed nominating sleight of position his denied knowledge to the approved without recourse into of discuss, hand as to of such himself on ratify and finally the governing channels. the huge amount especially since he is MOSOP president to disagreement approve council of THISDAY avoid between now a member the Hydrocarb of of the interest. conflicts of persons and Pyagbara and his deputy, insisting on Pollution collected by Pyagbara on money HYPREP governing MOSOP Deputygathered that Remediation that the developme The reason is behalf of council. Programme (HYPREP) MOSOP from the because “I Fortune Chujor, President, Dr. recently nt maintain in if the person been the handiwork must have of Environme Federal Ministry that clear terms inaugurated by so nominated on September the nt for launching of suspended misfit, 2, Muhamma is President Ogoni of Committeeleadership (Executive can their actions and inactionsa officials of the organisatio du Buhari, saying UNEP Report ) of MOSOP affect the Ogoni n. the 2, 2016 on June remain Kpalap said: must lead struggle and and other undisclose “Let me add the MOSOP into funds collected d struggle andalter ego of the Ogoni litigation(s unwarranted Elvis Ikoma and Legborsi Saen, that its president must who are erstwhile officials ).” of MOSOP. by him on behalf and should not of MOSOP, but He said if not accept any “I demand the president’s are no longer part of the political nomination appointme they are not happy leadership, “was should explainthat Pyagbara institutions nt from government and they will process of passing done without due do everything or agencies.” how and where to MOSOP within their power Chujor also copied committee, centralthrough executive to bring he gets funding for all internation the letter down committee and Contrary to reports al and local the Legal Adviser of MOSOP to congress, then it was MOSOP. It is the leadership of travels made being peddled , Maol faith done in bad Dumie, seeking not surprising around, the mastermin by and is Chibok schoolgirls to us because legal interpretatio of MOSOP. Let him on behalf of the d of 2011 the n aims and a direct affront on the happy at no time have they been Christmas Day allegations levelled it be known group in 2014. abducted by Ogoni people objectives bombing, with to against the the of Kabiru leadership. MOSOP MOSOP president. Dikko, also because MOSOP that Pyagbara While the Nigerian “There is no known as Kabiru single-han is supposed to Dumie, in crisis in MOSOP, Sokoto, is still has indicated interest ingovernment himself dedly nominated if you his legal advice monitor, advocate and contained into the governing supervise we have gotten a letter like that, Nigerian Prisonsin custody, the swap council MOSOP in his letter to the the smooth implementation deal with Boko a prisoners are not aware Service (NPS) modalities of the said yesterday. Haram, the of the are not president on September UNEP report and also serve aware of any letter, we for this have the uncompro While responding yet to be crisis and I made public. mised voice of as insist, there is no crisis to enquiries by an online the leadership within the “There’s no medium, of MOSOP.” truth in all” Times, the spokesmanPremium reports the of NPS, been claiming that Dikko had Mr. Biyi Jeje said: released, Jeje said. the rumour. He’s“Please disregard A senior Boko still in prisons custody.” Sokoto, was Haram operative, first Kabiru Sokoto January 1, 2012, arrested on by the police, December 2013 was convicted in but escaped from custody guilty of plotting after being found days two later when he the Theresa’s Catholic bombing on St. taken was to his residence being Church, Madalla, near Abuja. at Abaji in the Federal Capital Territory The attack left about 40 people (FCT) for a search. dead. He was Various publication Mutum-Biu re-arrested in this week reported s and blogs Governm in Gassol Local ent Area of may have been that Sokoto, 32, State Taraba in released a purported prisoners as part of subsequenFebruary 2012 and between the Nigerian swap deal Section tly charged under 4(1) (a) of and Boko Haram government and Prevention Terrorism Act of 2011. Boko Haram sect sect. The Abuja the release of its has demanded High Court Division of the Federal the governmen members held by terrorism found Dikko guilty of t in exchange for sentence and handed him a life on December 20, 2013.

Christmas Day Bomber, Kabir Sokoto Still u in Custody, Says Prisons Spoke sman

Jonathan in Minna,Visits IBB, Abdulsalam i

EDITORIAL Children and Abuse of drugs

Laleye Dipo

MEETING WITH THE

in Minna

rooms downstair On the second According to s. insiders in the President Muhammadu holiday, former day of Sallah residence, Buhari in a group home, in Katsina Goodluck Jonathan,President, Dr. finished immediately the duo photograph with State....yesterday the visiting members the Niger State was in Minna, moved their meeting, Jonathan of the National straight which he met capital, during of Abdulsala to the residence Youth Service Corps (NYSC) mi, a stone former Military separately with from in his Daura that of Babangida throw President, General Ibrahim Badamsi . It was learnt Babangida (rtd) and former stayed longer that Jonathan at Abubakar of State General,military Head residence ’s Former because he Abubakar(rtd). Abdulsalami place left the KennethMinister of Education, Hon. at about 1p.m. scarcity Gbagi, who and drove Jonathan was former President, served under and theiruntil commercial banks reported to back to Abuja. have come to engage in hoarding operators are Dr. Goodluck No one the Jonathan, has made or capital flight account for the company of Alhaji state capital in between was privy to the discussions berated commercia disbursement to as they did not believe criminals banks for their the former Nigerian Bashir Yuguda l of dollar in all the and Mr. Mike roles in the country’s allocations ability dollar who engage in dubious of Nigeria’s leaders financial but observers Oghaidome, transactions Bank of Nigeria from the Central strongly. economy to rebound and economic prominent members two have discussedbelieved that they could of the country. to the detriment woes. (CBN). He accused most the state of Gbagi, who dismissed Democratic Party of the Peoples well as The former of the banks Gbagi claimed the ongoing probethe nation as of financial activities the (PDP). minister claim that that Nigeria currently of Patience, there would said The first port of every Nigeria’s economy endangering have be enough dollars dollar in the last 16 years single call of Jonathan, wife of Jonathan and former according to enough foreign does not in circulation allocated by the CBN to THISDAY checks, by the Economic and Financialfirst lady and malicious through shady claimed to force down exchange, commercial banks was the residence current that it has enough the crimes of foreign disbursement of Babangida Commission (EFCC). dollars Nigeria’s high exchange rate if or any other relevant agency to meet the demands exchange to at the Hilltop It was also said traceable if the president issued cronies, end is in Minna at about associates and of genuine government an order the users in manufactu 11a.m. foreigners. compelling thePDPandthe that the crisis within has will to deal The former minister ring and commercia the CBN to instruct Edo other services. with economic He was said election could also Stategovernorship guest He however, accused l banks in Nigeria all and financial on BEN TV’s who was a commercia have been discussed with the former to have met by the give an account to their accomplice criminals and leaders. programme, Dialoguecurrent affairs sabotaging l banks of deliberately military ruler s operating for about 40 disbursed the of how they have commercia Nigeria’s economy It was the first as minutes ‘upstairs’ said the fight against in Diaspora, selling dollars allocated l banks and by while those the dollars to corruption by Jonathan would time President the current who accompan their cronies, them and for what purpose. to de change in Nigeria. bureau friends and associates visit Niger State Muhammadu him waited in ied He said the Buhari’s non-Nigeri He added that who are one of the sitting after leaving office as democratica administra Economic and the EFCC ans carting the often Financial Crimes elected president lly be unable tion in Nigeria would money Commission ICPC should be given and abroad. He said in May 2015. to solve more many of the people (EFFC), CBN and other free roles to perennial foreign the nation’s who operates under financial their exchange to are currently having access intelligence services mandate as have failed dollars from commercia independe Nigerians l banks identifying for their inability in organisations and commission nt s as financial and economic they need to commende d where positive results where achieved.

LEADERS OF TOMORROW

Ex-minister, Gbagi Accuses Banks of Com Forex Scarcity plicity in

ED TOR AL

O D

The recent outcry by the Gombe State Command of the National Drugs Enforcement Agency (NDLEA) over the use of illicit drugs among children under 15 years, calls for urgent action by critical stakeholders in our country. Page W

POLITICS Espousing the Katsina Dream

MIDWEEKPOL ITICS

T H I S D AY

KER Espousing th e Katsina

Coming back from a business trip to China and India a fortnight ago, where C he had gone to attract investors as well as showcase the potential that abounds in Katsina State, Governor Aminu Bello Masari said he had been better prepared on how to boost the economy of his state. Page 18

With over 3,000 creeks and inland Nigeria, some of which waterways innN ger a someofwh ch FEATURES A Wa Che had remained unpatrolled and out aga n of reach to the security forces, it W was unavoidable that crime would such areas. Anexamp An example that foster innsuchareas ethat readily comes to mind is the cartel of vandalssthathadtakenoversuch that had taken over such ofvanda creeks in Arepo, Ishawo, Awawa both Lagos and Ogun and Igando, gando innbothLagosandOgun States. Page 20 from s mp e m nor mood d sorder to extreme cases of menta accred tat on add ng that one out of every five N ger ans have an extreme menta d sorder The comm ss oner sa d event that cou d tr gger m nor mood d sorder that cou d fina y ead to extreme menta ness are mar ta pressure educat ona and econom c pressure Ipaye sa d other pressures are expectat on and d sappo ntment

advocat ng that commun ty menta home shou d be created across the country to soc a y manage menta d sorder at the grassroots eve Wh e urg ng the federa government to pr or t se pr mary hea th care ntervent on for m nor mood d sorder the comm ss oner sa d peop e shou d a ways go for regu ar psychotherapy check-up w th no cost mp cat on to manage cases of menta cha enges before they get out of hand

SENATE TO INVESTIGATE RECESSION AS SARAKI CALLS FOR COLLABORATION ON ECONOMY n the eadersh p of the country shou d move sw ft y to tack e th s econom c cr s s We have no opt on and th s we must do w thout de ay I commend and pra se our peop e for the r perseverance and understand ng ”

Okonjo-Iweala Suggests the Way Forward Former F nance M n ster Okon o-Iwea a sa d focus ng on the bas c ssues of macroeconom c stab ty was cruc a to fix ng the country s econom c cha enges “If you don t pay attent on to the fundamenta s of hav ng a stab e and good exchange rate po cy nflat on under contro manageab e fisca defic t and debts there w cont nue to be troub e n the economy ” she sa d N ger a s fac ng ts worst econom c cr s s n decades The economy s pped nto recess on after contract ng n the first two quarters of 2016 Inflat on umped from 16 2 per cent n Ju y to 17 1 per cent n August 2016 accord ng to the Nat ona Bureau of Stat st cs (NBS) S nce the ntroduct on of the float ng fore gn exchange po cy by the Centra Bank of N ger a (CBN) wh ch freed the na ra from a band of N197-N199 to the do ar the currency has deprec ated heav y on the para e market Okon o-Iwea a a former Wor d Bank

Manag ng D rector to d A Jazeera that she rema ned opt m st c that so ut ons to the country s econom c dec ne cou d st be found Asked what wou d be her top three pr or t es to reso ve the country s current econom c cr s s f she had rema ned the finance m n ster Okon o-Iwea a sa d she wou d prefer the current managers of the economy to ta k about t “I have contr buted the best I cou d to the country It s st the most nterest ng country n the wor d It s better to eave those who are manag ng now to say what they wou d do “A I can say s that there are so ut ons N ger a s a v brant country I ove t so much I know t s go ng to come out of th s one way or another ” she sa d On f Pres dent Muhammadu Buhar were to ask her to come and he p n reso v ng the country s econom c cr s s Okon o-Iwea a sa d “One of the th ngs you earn as you get w ser s to ta k ess as you grow o der “I have spent my t me contr but ng to the country It w be better to eave those manag ng the economy to do what they know how to do “I served my country for seven years and t was a great honour The second t me was very tough but t was st an honour I am not the on y person who s a repos tory of know edge There are other peop e who can equa y try

the r hands n runn ng the economy ” Speak ng on deve opments n Afr ca Okon o-Iwea a expressed regrets that the econom c ga ns recorded n Afr ca have started be ng eroded n the ast two to three years “On the cont nent we have seen a per od when the economy was do ng re at ve y we It s on y n the ast two to three years that th ngs have started to go a b t south ” She spoke about the ob n t at ve of the Good uck Jonathan government YOU-WIN “The who e dea was to have a bus ness p an compet t on Benefic ar es were expected to create obs to emp oy s x peop e or more “Each created 9-10 obs The Wor d Bank d d an eva uat on of t and found t good I do be eve the government shou d come n We started a peer to peer mentor ng Now one of the th ngs I want to say s that creat ng emp oyment s not on y about strugg es t s about manag ng success ” she sa d On how the ant -corrupt on war was fought dur ng her t me n government Okon o-Iwea a descr bed t as “a very tough fight” “It was tough I must thank my team You don t do t a one I had the support of an econom c team n the M n stry of F nance At the end of the day you need to have some pr nc p es ” she sa d

14, 2016

and is beginning

from a business to China and trip ago, where he India a fortnight had investors as well gone to attract as showcase potential that The purpose the abounds in Katsina was State, Governor their capacities for us to see their offices said he had Aminu Bello Masari been what connectionoutside the country, and and boost the economy better prepared on to see how to our developm we have in order to facilitate Speaker of House of his state. Masari, a ent former “Based on our projects. he was not unawareof Representatives also companies that invitation, we met with said of the fact that economy comes those are doing business boosting government development with commensurate infrastructuthe with the and those companies to enhance the Nigeria and re who are in Revenue through Internally Generated have the intention with us. There agriculture, power, and standard are some of these to do business education health have their branches companies that At a recent economiccare delivery. here in Katsina business with summit held Masari, before the federal governmenbut are doing President Muhamma in the state, this visit, we t, but due to his economic have now opened du Buhari and team, reiterated transactions door for business endowed in with those companies that Katsina both natural was Importantly, .” and human and called on he said, “We had intera resources the captains of investors not industry and to in a promising miss the opportunity to other invest Katsina with even solid foundation a view to for the growth laying an and also have of the state value for their “Now, in the money. placed order health sector, we have already for equipmen hospitals. We t have also made for three general recruitment of over 600 medicalan advert for the now, we have staff. And Hospitals to employed them in our right Special offer profession we are doing that, even in al services. Now, Masari...liv other sectors. “For instance, ing the Katsina in our own dream Umar Musa University – Yar’Adua University the offering medical wants to a departmen courses and you cannot start operate t of farm lands on Teaching Hospital.Medicine without a standard irrigation agriculture we need a comprehe the Federal MinistryFor this reason, we wrote . So, for us, nsive study. to “Like we said was given a Federal of Health, because Gombe is not, and there several times, this governme updated to TeachingMedical Hospital and is no intention nt it was any project blindfolde Hospital. of approachi “Ebonyi was ng also given. So, quick and unsustaina d so that we can these two experience on the basis achieve ble political of we want to Ministry of Health s, we wrote and the play to the gallery.gain. That means Federal replied us that to be realistic, No. We because they they could not, also have a federal Basically, we we want to true to our want in the future institution right have to do what words. in to lay a solid Medical Centre. need of services of a foundation for is right; we want Federal Now, I came agriculture in a more sustainabl say to myself: back Katsina home, e why can’t we State.” and The governor we have and start looking at what see discussing with hinted that they had So, we invited how we can upgrade them. started wood farming, some interested people we have also our own professionals, and about being invited internation again, a new arm He said people that will come of farming. al consultant hectres of woodare yet to know that with working with and see how we can harmonises, two “you make more land with annual harvesting like I told you,their own professionals because , are certain types money than the farmer. was a Managingonce you have somebody There who give inexplicab of trees that you plant that for eight years, Director of a Teaching Hospital le will wood farming returns. So, we are introducin University for and as a Vice Chancello r of eight years, benefit and the so that people will know g equipped. he is sufficientlya dangers of falling the re-planting them.” trees without “You have somebody who Specifically on Teaching Hospital is now in Sokoto managing a you observed rice production, he said “Just from Katsina; that Katsina who is also like we is one of the states in rice production to offer advice. feel he is sufficiently experienced , and you know, leading serious drought from Katsina, And we have a Professor, there is a on rice. You know who was the have been cultured that Chancellor and immediate past also into eating rice. Nigerians Vice when I was Bello University, has headed the ABU (Ahmadu It is unlike growing up, At a Zaria), recent the was Teaching stable guinea three and from food then corn Hospital. These summit heldeconomic “Later on, maize and millet. a report that between them, they can came. In fact, give us nobody can in the state, of a ceremony maize was beat. And the part of it is that Masari, before food moved on it became during our time, but more they are Katsina it will be free-of-charge good President as time because Muha a stable food with of the Funtua mmad Continuing, indigenes. So, we are working.” the coming agricultural he So, really, I think project in the and his econou Buhari upgrading the said “we are also looking 1970s. Dental Clinic at and what you it is better to eat what you mic team, national standard. in Daura to inter- reiterated From what somebody to can produce than to dependhave to that Dental that Katsin give you. So, Clinic already, we have done endow I believe, there on a was some difficulties a Degree programm we can even ed in both initially; but are to cross over we look at raising e there on Dentistry. do and the difficulties when we are able human resournatural So, if that Departme of this year, by there will be an Eye Centre nt; and with called next ces and inyear, as a departmen Katsina state. abundance in rice production very good Teaching on t, we can have the captai a of Hospital that “In fact, prices ns own University industry and can serve of rice have started because the may take us , which we believe is better.our going down other new two It investors not and I am sure, rice are already in the and that is what to three years, but it is market between to miss better, now we are starting prices of rice the projecting to now. We are opportunity to will relatively and October, the have a Teaching also aware that stabilise. You invest in a can call our Hospital that promising Katsin own, that can organising one the Central Bank of Nigeriaare university.” work with our we project a is with a on the promotion own view to production, On Agricultur laying an even and in of rice participants.” Katsina State, we have serious progress.e, Masari said “We are solid 000 50, making foundation for The Deputy Addressing the chairman of the growth India, purpose of his the Agricultur Governor is the of the state trip to China Masari said e Team. He and also is also value some companies “We were invited to Chinaand for their moneyhave the Katsina State that are doing business by NOTE: Interested interested in doingGovernment and some with that are readers should business with online edition continue in the the governmen on www.thisda t. y.com

FEATURES A War Chest against Maritime Crimes

The Ogun State Comm ss oner for Hea th Dr Babatunde Ipaye has sa d that over 60 m on N ger ans have var ous degrees of menta d sorder He to d newsmen n Abeokuta the state cap ta that about 80 per cent of peop e move about w th meta d sorder w thout know ng or seek ng for he p wh e 20-25 per cent ve w th a fu b own menta d sorder n the country He sa d cases of menta cha enges range

SEPTEMBER

Dream

Katsina State live it, writes Governor, Aminu Bello Masa Ibrahim Shua ri has a dream ibu for the state oming back

M n ster of Hea th saac Adewo e

• WEDNESDAY,

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

THE NEW SMA

BUSINESS High Port Charges: Nigerian Importers

WEDNESDAY,

SEPTEMBER

14, 2016, •

R A T E S 18.5083% 16.6507%

me C me

T H I S D AY

BUSINESS NIBOR OVERNIGHT 1-MONTH

A S

WORLD A T

NIBOR

3-MONTH

17.7268% 20.3556%

Group Busine ss Editor Chika 23 Amanze-Nw Email chika.a achuku manzenwach ukwu@thisda ylive.com 08057161321 , 0803329415 7

S E P T E M B E R ,

NITTY 1-MONTH 2-MONTH 3-MONTH

Divert Cargoes to Neighbouring Countries Importers in Nigeria are now diverting cargoes to neighbouring countries to avoid undue restrictions at the country’s ports and high custom High Port Ch Importers Di arges: Nigerian duties, a report has disclosed. Neighbour vert Cargoes to ing Countri es Page 23 6-MONTH

15.4261% 15.7513% 16.1576%

REWARD FOR EXCELLENCE

6-MONTH 9-MONTH 12-MONTH

L-R: Recipient Industry (LCCI),of Bank CEO of the year Award/CEO, Mrs. Nike Akande; of Lagos State/rep Access Bank Plc, Herbert resentative of Regional Financial Director, during the BusinessD Wigwe; President Lagos , Lagos Chamber ay 2016 Banking State Governor, Femi Nigeria & Ghana, AirFrance of Commerc Pedro, and Publisher Award, held KLM, Edwin e and at Eko Hotel, Visser; a former Lagos ... recently /CEO, BusinessDay Newspaper, Deputy Governor Frank Aigbogun , ETOP UKUTT

19.2703% 20.6120% 22.3006%

8 ,

2 0 1 6

EXCHANGE RATE N314.77//1US DOLLAR* *AS AT LAST FRIDAY

Quick Takes

TEF Holds Entrep

The Tony Elumelu reneurship Forum Entrepreneurship Foundation (TEF) has revealed 27 and Saturday Forum will hold in that Lagos between its 2016 The TEF Forum 29, October 2016. Thursday and key stakeholdis an annual gathering of selected ers within the A statement African entrepren entrepreneurs from the organisers eurial ecosystem second class said this of . Africa to forge 1,000 emerging entreprenyear’s edition will host the information partnerships, share insightseurs from 54 countries to and receive foundatio in TheTEFForum help their businesses thrive. nal to form businessisaninternationalplatform for partnersh African entrepreneurs leaders, policy ips with Pan-Africa n and global business integration by makers and investors. It will promote continent-wide that fosters creating a Pan-African entrepren creativity, innovation eurship entrepreneurs ecosystem all across Africa. , collaboration and and global leaders trade among The to engage with TEF Forum will convene developinginnovative African African entrepren entrepren challenges and eurs who are eurialsolutions policy makers change the African narrative.“ toAfrica’seconomic recognise and and the international developmThrough this forum, ent communit development embrace entrepreneurship, y will of Africa and regionaland beyond, as we as the new model for the global through public agendaforthegrowth shape the local, national, of and private “It is the hallmark cooperation. Africanentrepreneurship of the TEF 10-year, $100 million commitmeEntrepreneurship Programm 10,000 African e, our entrepreneurs,nt to identifying, training and funding ” it added.

Firm Partne rs

MasterCard Impactinvesting pioneer,Root withThe MasterCa Capitalhasannounced newpartnershi 300,000 smallholdrd Foundation that will p committed $5.2 er farmers in West help raise incomes for over Africa. The Foundatio million to Root early-stage agricultura Capital over n has five l businesses impact in rural that generate years to support transformational “With Root communities in Côte d’Ivoire, Capital we will Ghana, and Senegal. and capacity help to bring building farmers otherwise to businesses in much-needed financing West Africa excluded that of Financial ECON OMY Importers in Inclusion and from the formal economy,”work with Nigeria Foundatio Youth Livelihood copied President are now to Director diverting cargoes n, Ann s at The MasterCa Muhamm boost non-oil to neighbou increase incomesMiles said.“We see this ing countries revenue follow- Buhari, the Nigerian adu our product r- ing the rd as a good and opportun to our neighbour fall in crude agricultural Authority Ports West restrictions at to avoid undue ities for 4,000 avenue to help businesses, oil prices. (NPA) and ing African the country’s Nigeria 300,000 employee two Nigerian Ports.” million farm the and high custom ports economic is officially in s of Shippers On the duplicatio family members smallholder farmers, an (NSC), markets for recession and over has disclosed duties, a report n of charges .”Without NCMDLCA Council by shipping their The National . . had to accept lower crops, small-scale rural access to predictab companies, The Chief Executive Council of on the federal governm called customs le farmers are the prices for their Managing in a cycle of poverty. take urgent often forced ent to Nigerian agents said: “The crops Officer Customs Directors of Licensed of the Financial steps While the global and find themselves trapped Shipping companie has grown in obstacles before to remove the line Company Limited Derivatives recently Agents (NCMDL credit supply recent years, s in with the contract it is too late. for smallhold it is identified lengthy CA), 10 percent of The letter Bismarck Rewane, (FDC), Mr. cumberso of carriage, ers handle import financial flows geographically skewed signed by seven years with less than me documen and National reaching sub-Sahar disclosed container that its are loaded this in his that President, tation monthly economic process on export, an Africa.Ove back to the provided loans Root Capital has worked news and views country multiplicity Amiwero alleged that: Lucky of origin as of regulatory in West Africa, r the for Septembe businesses thatof between $50,000 and empty container “ The without presented it has r high and /security agencies, federal government $2 at any charge agencies and over 190,000have raised incomes for million to 52 agricultura duplicate the duplicated School recently.Lagos Business shipping due to the level of export terminal/ l nearly 12,000 smallhold its advisory ity inspectio process of qualactivities uted to higher This, he attrib- process company charges program in theer farmers. Root Capital employees and appointed n with that of the still very low in the that is customs duties, has also scaled and lack of leaders a suite region, offering bottlenecks country. The shipping federal governm export inof frastructures training agricultur and forex shortages financial modules pre-shipment al business lines Terminal as ent Delivery adding that management to inspectio smuggling activities, that affect exportmajor obstacles export. Charges (TDC) skills they needdevelop the leadership businesses. are expected This constitute n on charge that and to grow and is a Nigerian ports. process from bottlenec to is not s serious sustain their Clearly, this increase. k due to lengthy as such charge tied to service, In a letter to may jeopardis Oracle Drives and is duplicate the federal governme the Executive cumbersome process, e Director Cloud Adopt procedure in the charges of terminald of the Nigerian Exchange of and cost, which nt’s efforts operators. best Export Promotion Council resulted in Their charges cloud strategist practices and gaining ion in Africa at(NEPC) and tendant delays and expert insights s was the high costs not represent any service do took part in that prompted from top Oracle’s two key focus for Oracle customer the movemen to day long ‘Africa concluded in t of s, who Continued gathered to Mauritius recently.DozensExecutive Summit’ that on page 24 understand various aspects of Oracle customer process including Ebere Nwoji s of the cloud ability to leverage capacity building, innovatio adoption n, security with Oracle cloud Internet ofThings (IoT) PENSI ON A pioneer board for driving businessand the solutions.T and the old Defined member of he Vice President Central Europe, the National growth lump sum Pension Commisadoption in Africa Oracle, Janusz Naklicki of the Russia, Africa to the current Benefit Scheme of payment sion (PenCom public servants CPS. Until commented: ) and a member Contributory Pensionfrom their transferred realise that cloud is growing at a rapid of the Fola Adeola’s has to take “Cloud to their various this is the form of immediate pace Scheme their (CPS), two years a priority market offers them speed, value as organizations now presidenti RSAs, into Committee retirement after retirement remitance and better ROI. the RSA benefit cannot that initiated al 36 The duo said with our commitmfor us and the Africa Africa is introduction this was caused. be paid completel the by the federal public of employees of Executive Summit ent to further of pension y. our customer servants all Takor, is in line in Nigeria,M reform pay failure of governme drive this interest arrears of pension s in Africa in the r. Ivor Takor, nt to Executive who is currently their journey and support the has said underaccrued rights of workers contributions that Nigeria Director of to the cloud.” is gradually Centre for of the employees and the old Defined Pension Right returning to the pre-pensi that of their employer, Advocacy (CPRA), Benefit Scheme which is federal where retired on reform era, transfer to PenCom for onward said since the regime government, WEDNES of public President with to DAY, Muhammadu the appropriat servants Managers their Pension SEPTEMBER and pensioner interest. Buhari has e Fund the 14, 2016, • T from on when their s were not sure ernment’s (PFAS) as well as H I S D AY A failure to retirement gov- welfare set,shown interest in the “I assure you failure benefits of and pensions of workers contributions, remit the arrears contributions to remit its part bail would be paid. by releasing administrationthat this out fund to to workers’ RetireThis is coming Acting Featur compliance withamounts to nonment pay outstandin round the clockis working salaries of workers, the provisions a recent assertionon the heels of federalSavings Acciount(RSA). es Editor: Charle g the Pension of The it is now hardships the to remove government, Reform Act the teacher in Lagos by a retiring PenCom, s Ajunwa Email 2014 by according to for retired and retiring time the governme country is going charles.ajunw through” nt. It also amounts public servants federal to has outstandi teachers in the State that retired billion rubbing a@thisdaylive to be bailed state receive to pay as accrued ng N20 by their out by their federal public servants their its workers, employer, .com rights own employer who migrated of federal governme which is the ”. Continuing, from he said:“Secondly The“bailout” nt. of these categories , President Muham Continued madu Buhari on page 24 Obinna Chima

CITYSTRIGNS A Different Kind of Carpentry

‘Nigeria is Gradually Returning

to Pre-pensio n Reform Era’

CITYSTRING A good-spirited gathering of arS chitects inside Ikoyi recently led A Different K ind of Carpent ry this reporter to a state-of-the-art carpentry workshop in Oregun where carpenters have kissed tools like chisel, saw, pry bars and hammer, goodbye. It began as a light-hearted conversation over cocktails and the manager, Fountain Fields, Harry EtaBesong, clad in well-tailored jacket introduced himself as a carpenter. A Page 36 Yinka Olatunb osun repo work isn’t just hard work rts on a rare find at Foun tain

The carpenters

Fields, Ikeja whe re

wood

at work

good-spirited chitects inside gathering of ar- on standards. I this reporter Ikoyi recently led active am to a state-of-the practice then. an architect and I was carpentry workshop -art of passion. in other climes,’’ I was But he decidedjust doing this out he where carpenters in Oregun I care In his research, recounted. about my integrity to be unfaithful have he toured a . factory in Instead of and hammer, tools like chisel, saw, kissed the facility in a lot. I shut wood hammer and Turkey pry bars goodbye. It began nail, this is salaries and December 2008 and paid down which he showedand recorded a short work we use. Touch conversation as a light-hearte what it,’’ he said, video reporter-gu over off all d to research allowances. So in as this frightened “The machine to this reporter. Fountain Fields, cocktails and the 2011, I began est jumped at into how doors Harry Eta-Beson manager, the startling a device make the normal they had there could well-tailored are produced g, clad in only literarily used instead of a hammer sound of jacket introduce doors. But in make longer carpenter. Naturally, like a stapler. d himself as that doors. I went our machines can is a When asked works the warped these things any hammer there to learn non-lucrative if there image are in the workshop of a edge is made. done. You see how that how smiled as he As though thatblue-colour job came , Oduwole explained why to mind. We decide door ruled was not surprising protect the distinguished-looking the facility out old tools. enough, the door. We also to lift that edge to has CEO, in the door “We have but place honey adorned in carcass and regal traditiona Kayode Oduwole, we don’t base add reinforcem comb tions on such it. They don’t enjoy the surprised l attire, seemed our operatools. We ent to system. to They expression honey comb do that. They only place face more than We try to simplifyhave a mechanised use this machi in the as possible,’’ the content on the reporter’s the work as With protectivethe carcass,’’ he said. glass cup. of his transparen ne he to much said. make masks t neck, he motioned fastened He showed keyho “You should the different come to our to this reporteraround the comb to they are neat. les so that him on a tour sizes of the Oduwole, sensing workshop,’’ this reporter to follow honey said and the photo-jour the curiosity We don’t who squatted was sweating; of the facility. No carpenter as regards the nature of wood in this reporter use chisels. This dust to take in front of the fountain nalist a pile of wood the floor was clean except that make them work they peddle is the some of saw scrapings for wood molde the corner “The only thing shots. Last week, the look so polished. towards the that was heaped at we obtain explained how exit door. Oduwole is the wood,’’ workshop that overdue visit was paid used to carver- it can be he continued here in Nigeria each to is the equipped machine has noise . wood. This “The machinery the works over from the compresso to perform 4 with high-power one is used the We havelargest deposit of wood South-west r. “They use this Oduwole, a tasks 6 in Nigeria. to measure the products retired architect, in carpentry. the machine and can so that they time supervisin thickness spends his are neat. We to make keyholes havecompete with internation the quality that day This is the who work from g the work of his employee al standards. the capacity for the desira of the wood wood molder- don’t use chisels. We to make 96 doors carve wood. “We have produced one hour break.eight to five with a compulsor s it can be used ble size in one day. This one is y be achiev doors for used to measure to Abuja in 2013. thickness of to neglect that He learnt a while ed. This one to the wood for Then we had a college in ago not the who were oversight function be achieved. the Precisely in some people cuts suggesting WEDNES to anyone. wood into variou This one cuts desirable size to imported 2008, that lengths. That wood into various and only reopenedhe shut down the DAYhave s length Chinese doors. they should SEPTEMBER is the edge facility That is the five years ago. the contract to seal up But they gave 14, 2016 • T “We had some edge binder s. neat,’’ and wood edges binder. We use it HISinternal problems the school owner we executed it. I never us to make them issues with . Oduwole and we had We use it to seal the met look found until recently. a pile of fresh said as he walked “The manager wood and paint,’’ he up wood And when he towards school out that we made wood. began. edges to make then began their doors There are woods he was to comprom them look for making ise neat those doors,’’ really happy. ‘We are at the and it is rarely kitchen enjoying he email:foreigndesk cabinet of its high cost.imported by carpenters Inevitably, they said. @thisdaylive.com because doors, have specialised “The door including well-fortifi at making Democrat Hillary vent allows one of which ed security Clinton has said for ventilation he doors that she could invited this . was the best resume presidential on Monday it may reporter to answer to the campaigning slow disclosing have been too the course question of whylift. It in a couple of her pneumoni they after a bout days diagnosis a of it and of my life. I’m aware of after she started usually she initially had pneumonia that fainted feeling better.” nearly she can avoid it,” at a New not believed was told Her campaign “that big a deal.” Questions about ceremony for York memorial passed CNN. Asked if she said her the Sept. 11, out during the husband, former the incident Clinton’s health reinforced the 2001, attacks. incident on perception of Clinton less” in her handling Clinton, would President Bill as secretive, almost collapsed scare after she the lungShe was diagnosed with Sunday, she said: “No, of classified I didn’t. her emails, but did campaign on I felt dizzy a view fueled infection on Sunday, causing at an event on think behalf while not that in retrospect, Friday. “I balance for and I did lose my Clinton she rests. Both controversy surroundin by the criminal charges. recommend campaign trips, her to cancel some have g her a minute. Once we could and of a private Trump said handled email server use on Monday that I intended Trump, 70, said they about a tendencyrevived concerns of providing it better in terms got in. Once I could sit down. medical to release more of their serving as President while campaign issue health was a Once I could more informatio that has dogged toward secrecy more but he did not Barack cool off. Once Obama’s secretary details in the n had some quickly,” Clinton coming of state from attack Clinton over her water, I immediate I days, as their and underscore her campaign, Brian spokesman physical campaigns gear 2009 to 2013. condition. “I Fallon told MSNBC ly up for just hope she ries about the d perennial wor- in the the Novembe earlier A federal investigatio well and gets gets medical fitness day. r election. candidates for back on n of of issue said she The one was “extremely that he said in an interview the trail,” most demandin of the world’s latest health problem was the care- News. with Fox blow for the g Democrati “Well, it will jobs. presidential c nominee couple of days. be in the next when Republican rivalat a time United States ... I just want get this over intelligence whistleDonald blower, and done with to Trump has erased Edward were get back on most and necessary Snowden, of her on lead in national the trail as soon things,” he said. called President Barack The 33-year-old possible,” she as and is competitive opinion polls year, explained Obama to said in an interview insisted he he was widespread again in many pardon him, saying in comments on CNN on Monday battlegroun support, saying had spend time in jail in prepared to biopic about the US, adding “public by and the he was she had ignored night, adding 8 election d states where the Nov. published Tuesday it had the whistle blower large cares “willing at the Toronto been morally “necessary doctor’s orders is likely to be to rest. “I just decided. ” to shine a about these issues far more more of sacrifices for to make a lot this month. film festival earlier Clinton, didn’t think it I anticipated.” than going to be that was with similar68, said she had dealt light on mass surveillanc US anti-establi my country”. Last year, the big a deal.” The former intelligence e. episodes of dizziness shment director Snowden, Her campaign White Oliver whose residency contractor House Stone called rejected a petition has spent three acknowledged before. “You know, it is permit in Russia for Obama something years in exile signed by that has occurred over 150,000 runs out next to pardon Snowden in a few times over Russia after initiating urging while unveiling his the largest data leaks in espionage thriller for Snowden, saying a pardon US he should be “judged by a firestorm over history, fuelling a jury of his peers.” surveillance. the issue of mass “If not for these disclosures, if not for these Israel said its aircraft attacked would be worserevelations, we Hungary Syrian army should be position yesterdaya hours after the mortar Britain’s Guardianoff,” he told from after a stray mortar bomb the European excluded “We cannot accept newspaper Union for bomb struck fighting among factions in from in a video-link that the basic the Israeli-contro values of interview from anti-migrant policies that Syria Moscow lled Golan Heights, struck the Golan Heights. EU values, including undermine being the European Union are the extent of Europe’s divisions on Monday. and it denied Israel captured the so seriously over sharing a “Yes, there are erecting a plateau from razor-wire fence, responsibility breached,” that a warplane Syrian statement in a Asselborn laws Syria for the 1967 war. The more than 1 million on the Foreign told Luxembou shot down. The and drone were said Syrian army books that say one thing, Minister Jean Asselborn rg Welt. “Anyone, German daily Die refugees migrants and but that it had shot down is perhaps why like Hungary, who reached said builds now-routine Israeliair strike was a warplane the pardon power in comments published an who its shores fences against and a drone Israeli exists — for the exceptions, yesterday. war refugees last year. The unusually occasional spillover response to the Israeli after the things or breaches attack. Hungarian press from fighting that may seem for the Viktor Orban’s strong attack on the a five-year-old in independence freedom and Peter Szijjarto Foreign Minister Denying any government, which unlawful civil prompted a vigorous of its aircraft in letters on a page but when Syria a ceasefire war, and across had said his country system should of the justice had been was holding at look at them start of its second the said in lost, the Israeli military morally, when we Budapest, came three riposte from or if needed be temporarily, its defended Europe throughout look at them a statement: days before a history, and we crucial forever, excluded “Overnigh ethically, Syria’s army day. summit described his from the EU.” two surface-toLuxembourg air missiles weret look at the results, it when we the bloc’s unity intended to project a statement thatcommand said in launched colleague The direct seems these after as decision to leave. Britain’s shock of a fellow call for the exclusion “condescending, uppity, had attacked Israeli warplanes mission from Syria after the an army position frustrated.” and EU member to target Syrian 1 a.m. on Tuesday state was at unprecedented, artillery Orban (2200 GMT, positions. At no point was the and underscore Monday) in safety of (Israeli) aircraft d his EU has angered many of the partners with compromised.” Quneitra province.countryside of his tough The seven-day rhetoric on truce in Syria, migrants and The Israeli brokered fortifying his borders by aircraft attackedmilitary said its States, by Russia and the United out. He has called to keep them is their second targets in Syria attempt this a referendum year by to halt next month in the bloodshed. which he is urging Hungarians to vote against future EU quotas stipulating how many refugees each country should take. The EU could behaviour, and not tolerate such exclusion was “the only possibility to preserve the integrity and European Union,” values of the Humans fleeing Asselborn said. from war were being treated almost worse wild animals, than he that Hungary added. “The fence is out refugees is building to keep getting and more dangerous.longer, higher Hungary is not far from issuing an order shoot refugees,” to he said. In response, news agency Szijjarto told state MTI ians could decide only Hungarwho they Twilling H I S DAY to live•WEDNE were SDAY neither Brusselswith, a right thatSEPTEMBER 14, 2016 the Luxembou bureaucrats nor rg could take away. foreign minister He said it was strange that Asselborn, who came from the land of and another “tax optimisation”, Luxembou Commission President rger, EU Jean-Claude Juncker, were talking about shared burdens.

INTERNATIONAL Clinton to Resume Presidential Campaign Democrat Hillary Clinton has said that she could resume presidential campaigning in a couple of days after a bout of pneumonia that she initially had not believed was “that big a deal.” Page 46

INTERNATIO NAL

Clinton to Resu me Presidential Campaign Edward Sno wden Begs Obama for Pardon

Israeli Aircr aft Attacks Syrian Army Posit ion

EU Should Expel Hung ary over Migr Treatment ants’

SPORTS Onazi Attacked by Robbers,

WEDNESDAYSP ORTS O

Loses Car to Hoodlums PaWilson Obande Onazi, father of Super Eagles player, Ogenyi Onazi, narrowly escaped death on Monday when armed men raided his house, carting away his Sport UtilityVan (SUV) and other valuables. Page 54

Group Sports Editor Duro Ikhazu agbe Email duro.ikhazuag be@thisdaylive.com

nazi Attacked by Loses Car to H Robbers, oodlums

Seriki Adinoyi in Jos and investiga Pa Wilson Obande commenced tions have on the crime. Onazi, father of Super In a related develpom Ogenyi Onazi,Eagles player, Africanfootball.co ent, m spoke escaped death narrowly with Onazi on Monday from his base when armed men in Turkey and reported that house, carting raided his the was obviousl Sport Utility away his by the incident. y shaken Van (SUV) He said that and other valuable the bandits pretende s. THISDAY gathered courier men with d to be a letter to that be delivered four armed men, to his father. had, at about all masked “Those robbers came, 1.30 pm on Monday invaded pretending of the Onazi’s the home there to deliverthey were a letter to Utan area of located at my dad at about 1.40pm local governm Jos North on Monday Plateau state ent Area of soon as he (yesterday), as holding him collected their and some members fake letter of his it was and asked where family hostage. coming from they Though no swooped his family wasmember of hands, beaton him, tied his him up, inflicting robbers reportedly hurt, the machete cuts on him in the in getting away succeeded process,” he recounted. Toyota Highland with the “They told him this is the other valuable er SUV and first in a series of attacks Police Publics. that they will Officer, ASP TernaRelations house and launch on our that I( Onazi) Tyopev, will who confirmed be their target the the incident to our correspo next time.” ndent in Jos yesterda “They took their time to immediately y, said that take some valuable materials was reported the incident including car and some cash were posted , policemen but I am thankful to God to the house to reassure them they didn’t Tyopev said,of safety. that,” Onazi do more than added. “The divisional crime Onazi’s officer discharg dad has also been personally led ed to the house”,detectives where he from hospital was treated adding that the area for is now calm the injuries inflicted on him during the ordeal. Onazi

“We understand though: Hungary what it means, piper after other has to pay the people make mistakes,” he said. Czech Prime Minister Bohuslav Sobotka sharply criticised Asselborn’s comments. “The discussion these days is future of the focused on the European Union,” he said. “Further barriers and calls raising of the member states for exclusion of are, nonsense... Europe in my opinion, and stay coherent.”must cooperate German Foreign Minister Frank-Walter Steinmeier said: can understand, “I looking at Hungary that some in , Europe impatient... However,are getting it is my personal approach to not show a European member state the door.”

Elegbeleye Hails Rohr Debunks Reje ‘Brilliant’ Paralym ction of Accommodat pians ion Claim

Keno Edhowo Olawale Ajimotok at the way people an in Abuja regular athletes Super Eagles’ his openness are using it. and easy in the Olympic fail Nigeria Adviser, Gernot Technical accessibility “When the s. To me it reacted to quote him Rohr, has out Former Director Federation for me, and this is a good is not engaged me, of context and to news General I knowa new thing because the and told me I gesture that shows their National Sports attempt had rounds that he making to derail him from they will do rejected assignme well. (NSC) OtunbaCommission They have the core to to live in Nigeria, I agreed commitment. If I have it because I believed always been doing the accommodation given issues with it, nt he has at hand. Gbenga well. Elegbeleye to it should be him by the that done directly At the “I never rejected my base plaudits on has heaped London in Paralympics in Federation Nigeria Football apartmen through the any country has to be in the Federatio (NFF), for his stay 2012, they won t,” he said. “I might where I work. team at thethe Nigerian at least about in Nigeria. I did pages n and not on the have the same spoken to on going medals,’’ four gold of the media.” Paralympic Games Rohr, who managed who I believed a few people Faso and in Niger, Burkina Elegbeley Rohr in Rio, to be genuinely Gabon, and I Brazil. the interested He urged those e said. senior national do people decried the habit of not see it any in team me, in authority saying for differentl the In stack contrast to fete the first time in a that Nigeria,” y in then trying to get close and 1-0 home win the apartment was very spineless outing to the after the paralympians against Tanzania big statemen Rohr added in a ordertwisting his comments in and I joked Games, saying t. to make press news, at the the Olympics also month expressed earlier this lost inside that I might get athletes deserved and The cautioned in Franco-Ge it Rio when displeasure live month, the continge last be apprecia to there, but I neverI start to further: “The rman stated augur well that it would not ted for nt of so well for media special athletes rejected moved Federatio at the world doing to rent an apartmenn if he has to close relations stage. six gold, two has fetched He up also t of being misquote in fear silver and one attributed poor bronze medals preparations d. as the reason 10th place at the to stay in behind Nigeria’s Paralympic under The ancient Games. achievement at Rio 2016. will shake to city of Oyo Elegbeleye The U S Elegbeley its performance was said the supervised e, who next month as foundation stated that A based boxer The maiden the Team the not edition maiden nine-day Nigeria “Alafin of Oyo of UACN in the pan especially a flash to the United Boxing tournament will not only help Property Commonwealth Champio Development top 8 ranked female national in the powerlifting players. event where Games in Glasgow, Scotland, October nship” holds from promote the sports and give Company (UPDC) squash Nigeria is ranked opportunity to Nigerian fingered lack of series jointly 7th to 15th, 2016 Seven invited continuity of Oyo Township as the programm organize at the boxers best country es in Stadium. The to fight for honours but will UPDC and O’Trafford d by participating and clubs are Squash “The Paralympthe world. out the best set out to bring boxing tourname help in upholding they are: the tradition, Club holds on Friday 16th Ikoyi Club, Lagos Country always excelled ians have their variousin the athletes in put together by nt is being culture and Club, Apapa the Universal unity of Nigeria. to Saturday 17th Septembe sports when the of “We are organisin the failure at as cause Boxing Council, UBC 2016 in Lagos. r, Lawn Tennis Club, Lagos Olympics. Middlewe Super champion g ight Champion The tourname Club, FESTA Club, Eagle YESTERDAY’ ship in celebr the nt shi

Alafin Boxing Tourn ey Debuts in Oyo

UPDC Squash Tourn ey Holds Sept. 16

Kunle Ogunfuyi

T H I S D AY WEDNESDAY SEPTEMBER 14, 2016

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01/09/2016 10:14

WEDNESDAY SEPTEMBER 14, 2016 • T H I S D AY

NEWS

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

Ogoni Clean up Funds Tear MOSOP Apart

Ernest Chinwo in Port Harcourt Crisis is rocking the Movement for the Survival of Ogoni People (MOSOP) as the leadership is currently engulfed in a confidence battle over the role of the President, Legborsi Pyagbara, in its processes leading to the implementation of the United Nations Environmental Programme (UNEP) report on Ogoniland. The MOSOP president is also accused of breaching the constitution of the organisation by receiving and spending funds without recourse to the approved channels. THISDAY gathered that MOSOP Deputy President, Dr. Fortune Chujor, on September 2,

wrote to Pyagbara demanding his resignation as MOSOP president for breaching the constitution of the socio-cultural pressure group. Chujor, in the letter titled: ‘Gross Administrative Misconduct, Fundamental Breaches of MOSOP Constitution and High Handedness,’ insisted that the embattled MOSOP president must explain the huge amount he collected from the Federal Ministry of Environment on behalf of the group for the launching of the Ogoni clean-up exercise. He accused Pyagbara of singlehandedly nominating himself into the governing council of the Hydrocarbon Pollution Remediation Programme (HYPREP) recently inaugurated by President Muhammadu Buhari, saying the

Christmas Day Bomber, Kabiru Sokoto Still in Custody, Says Prisons Spokesman Contrary to reports being peddled around, the mastermind of 2011 Christmas Day bombing, Kabiru Dikko, also known as Kabiru Sokoto, is still in custody, the Nigerian Prisons Service (NPS) said yesterday. While responding to enquiries by an online medium, Premium Times, the spokesman of NPS, Mr. Biyi Jeje said: “Please disregard the rumour. He’s still in prisons custody.” Kabiru Sokoto was convicted in December 2013 after being found guilty of plotting the bombing on St. Theresa’s Catholic Church, Madalla, near Abuja. The attack left about 40 people dead. Various publications and blogs this week reported that Sokoto, 32, may have been released as part of a purported prisoners swap deal between the Nigerian government and Boko Haram sect. Boko Haram sect has demanded the release of its members held by the government in exchange for

Chibok schoolgirls abducted by the group in 2014. While the Nigerian government has indicated interest in a prisoners swap deal with Boko Haram, the modalities for this have yet to be made public. “There’s no truth in all” the reports claiming that Dikko had been released, Jeje said. A senior Boko Haram operative, Sokoto, was first arrested on January 1, 2012, by the police, but escaped from custody two days later when he was being taken to his residence at Abaji in the Federal Capital Territory (FCT) for a search. He was re-arrested in Mutum-Biu in Gassol Local Government Area of Taraba State in February 2012 and subsequently charged under Section 4(1) (a) of Terrorism and Prevention Act of 2011. The Abuja Division of the Federal High Court found Dikko guilty of terrorism and handed him a life sentence on December 20, 2013.

Jonathan in Minna,Visits IBB, Abdulsalami Laleye Dipo in Minna On the second day of Sallah holiday, former President, Dr. Goodluck Jonathan, was in Minna, the Niger State capital, during which he met separately with former Military President, General Ibrahim Badamsi Babangida (rtd) and former military Head of State General, Abdulsalami Abubakar(rtd). Jonathan was reported to have come to the state capital in company of Alhaji Bashir Yuguda and Mr. Mike Oghaidome, two prominent members of the Peoples Democratic Party (PDP). The first port of call of Jonathan, according to THISDAY checks, was the residence of Babangida at the Hilltop in Minna at about 11a.m. He was said to have met with the former military ruler for about 40 minutes ‘upstairs’ while those who accompanied him waited in one of the sitting

rooms downstairs. According to insiders in the residence, immediately the duo finished their meeting, Jonathan moved straight to the residence of Abdulsalami, a stone throw from that of Babangida. It was learnt that Jonathan stayed longer at Abubakar’s residence because he left the place at about 1p.m. and drove back to Abuja. No one was privy to the discussions between the former Nigerian leaders but observers believed that they could have discussed the state of the nation as well as the ongoing probe of Patience, wife of Jonathan and former first lady by the Economic and Financial crimes Commission (EFCC). It was also said that the crisis within thePDPandtheEdoStategovernorship election could also have been discussed by the leaders. It was the first time President Jonathan would visit Niger State after leaving office as democratically elected president in May 2015.

MOSOP president’s nomination was just for his personal gains and not for the interest of the Ogoni struggle. The letter read in part: “I hate to say funds for our organisation are misappropriated, but we are fully convinced that until and unless Pyagbara is ready to honour MOSOP constitution which is a proper theoretical basis for our organisation, I will be forced to talk about the noxious cycle of un approved expenditures, deceit and sleight of hand especially on the huge amount of money collected by Pyagbara on behalf of MOSOP from the Federal Ministry of Environment for launching of Ogoni UNEP Report on June 2, 2016 and other undisclosed funds collected by him on behalf of MOSOP. “I demand that Pyagbara should explain to MOSOP how and where he gets funding for all international and local travels made by him on behalf of MOSOP. Let it be known to Ogoni people that Pyagbara single-handedly nominated himself into the governing council

of HYPREP just for his personal gains and not for the interest of the Ogoni struggle. “I make bold to say so because MOSOP is supposed to nominate any credible and respected Ogoni son or daughter into the HYPREP governing council, while Pyagbara as MOSOP President is supposed to lead MOSOP as the watchdog on the implementation of the Ogoni UNEP report. I therefore call for the immediate resignation of his position as MOSOP president since he is now a member of the HYPREP governing council. “I maintain in clear terms that the leadership (Executive Committee) of MOSOP must remain the alter ego of the Ogoni struggle and its president must not and should not accept any political appointment from government institutions or agencies.” Chujor also copied the letter to the Legal Adviser of MOSOP, Maol Dumie, seeking legal interpretation of the allegations levelled against the MOSOP president. Dumie, in his legal advice contained in his letter to the MOSOP president on September

9, said the allegations against Pyagbara were “weighty” and “laced with facts that affect our age-long struggle.” On the issue of appointment into the board of HYPREP, Dumie noted: “The sensitive nature of the nomination of the MOSOP president into HYPREP is a very serious matter which the executive committee, central committee and congress are supposed to discuss, ratify and finally approve to avoid conflicts of persons and interest. The reason is because if the person so nominated is a misfit, their actions and inactions can affect the Ogoni struggle and lead MOSOP into unwarranted litigation(s).” He said if the president’s nomination “was done without due process of passing through executive committee, central committee and congress, then it was done in bad faith and is a direct affront on the aims and objectives of MOSOP because MOSOP is supposed to monitor, advocate and supervise the smooth implementation of the UNEP report and also serve as the uncompromised voice of the

Ogoni people.” He summarised that: “It is my considered opinion that the allegations levelled against the president constitute sufficient grounds for disciplinary action to be taken against him if proven to be true.” When contacted, Media Adviser to the MOSOP president, Bari-ara Kpalap, however denied knowledge of such disagreement between Pyagbara and his deputy, insisting that the development must have been the handiwork of suspended officials of the organisation. Kpalap said: “Let me add that Elvis Ikoma and Legborsi Saen, who are erstwhile officials of MOSOP, but are no longer part of the leadership, they are not happy and they will do everything within their power to bring down the leadership of MOSOP. It is not surprising to us because at no time have they been happy with the leadership. “There is no crisis in MOSOP, if you have gotten a letter like that, we are not aware of the letter, we are not aware of any crisis and I insist, there is no crisis within the leadership of MOSOP.”

MEETING WITH THE LEADERS OF TOMORROW

President Muhammadu Buhari in a group photograph with the visiting members of the National Youth Service Corps (NYSC) in his Daura home, in Katsina State....yesterday

Ex-minister, Gbagi Accuses Banks of Complicity in Forex Scarcity Former Minister of Education, Hon. Kenneth Gbagi, who served under former President, Dr. Goodluck Jonathan, has berated commercial banks for their roles in the country’s financial and economic woes. He accused most of the banks of financial activities endangering Nigeria’s economy through shady and malicious disbursement of foreign exchange to cronies, associates and foreigners. The former minister who was a guest on BEN TV’s current affairs programme, Dialogue in Diaspora, said the fight against corruption by the current Muhammadu Buhari’s administration in Nigeria would be unable to solve the nation’s perennial foreign exchange

scarcity until commercial banks and their operators are made to account for the disbursement of all dollar allocations from the Central Bank of Nigeria (CBN). Gbagi, who dismissed the claim that Nigeria currently does not have enough foreign exchange, claimed that it has enough dollars to meet the demands of genuine end users in manufacturing and other services. He however, accused commercial banks of deliberately sabotaging Nigeria’s economy by selling the dollars to their cronies, friends and associates who are often non-Nigerians carting the money abroad. He said many of the people who are currently having access to dollars from commercial banks

engage in hoarding or capital flight as they did not believe in the ability of Nigeria’s economy to rebound strongly. The former minister said there would be enough dollars in circulation to force down the current high exchange rate if Nigeria’s president issued an order compelling the CBN to instruct all commercial banks in Nigeria to give an account of how they have disbursed the dollars allocated to them and for what purpose. He said the Economic and Financial Crimes Commission (EFFC), CBN and other financial intelligence services have failed Nigerians for their inability in identifying financial and economic

criminals who engage in dubious dollar transactions to the detriment of the country. Gbagi claimed that every single dollar in the last 16 years allocated by the CBN to commercial banks or any other relevant agency is traceable if the government has the will to deal with economic and financial criminals and their accomplices operating as commercial banks and bureau de change in Nigeria. He added that the EFCC and ICPC should be given more free roles to operates under their mandate as independent organisations and commissions as they need to commended where positive results where achieved.

T H I S D AY WEDNESDAY SEPTEMBER 14, 2016

Operator of the NNPC/MPN Joint Venture

Tender Opportunity: Provision of Production Jack-up Barge to Support MPN Offshore Operations NipeX Tender Number: 00000074 1. INTRODUCTION Mobil Producing Nigeria Unlimited (MPN), Operator of NNPC/ MPN Joint Venture plans to engage the services of a competent and qualified firm, for the provision of a Production Jack-up Barge and its related services to support her offshore operations within the NNPC/ MPN Joint Venture (JV) acreage for an anticipated contract term of four (4) years plus one (1) year optional extension.

2. SCOPE OF WORK The scope of work includes provision of a Class 200 Production Jack-up Barge with adequate and qualified personnel, services and equipment to support MPN offshore operations. The Barge should have been built not earlier than year 2010 and be selfpropelled, self-contained and able to support well work operations. It should have a minimum clear deck space of 5,000 sq. ft. and the main and auxiliary cranes should be a minimum of 150 ton/ 120 ft. boom length and 50 tons/ 70 ft. boom length respectively. It should have three (3) legs and minimum water making capability of 10 metric ton of fresh water daily, including office and living accommodations.

3. MANDATORY REQUIREMENTS i.

ii.

To be eligible for this tender exercise, interested contractors are required to be prequalified in the Barges: 3.08.02 Product Category in NipeX Joint Qualification Scheme (NJQS) database; ensure this is done by the Advert close date. All successfully prequalified suppliers in this category will receive Invitation to Technical Tender (ITT). To determine if you are prequalified 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.

iii.

If you are not listed in a product/service category 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 necessary update.

iv.

To initiate the JQS prequalification process, access www.nipexng.com to download an application form, make necessary payments and contact NipeX office for further action.

To be eligible, all tenders must comply with the Nigerian Content requirements in the NipeX system

4. NIGERIAN CONTENT Company is committed to the development of the Nigerian Oil and Gas business in compliance with the Nigerian Oil and Gas Industry Content Development Act 2010 (NOGICD Act) enacted by the Federal Government of Nigeria in April 2010. As from the commencement of this Act, the minimum Nigerian Content in any project, service or product specification to be executed in the Nigerian Oil and Gas Industry shall be consistent with the level set in the Schedule to the Act and any other targets as may be directed by the Nigerian Content Development and Monitoring Board (NCDMB). NNPC/ MPN JV requires their Contractors to comply with the Act, its attached Schedule and any applicable regulation developed by the NCDMB. Nigerian Content (NC) in the Nigerian oil and gas industry is defined as: "The quantum of composite value added to or created in the Nigerian economy by a systematic development of capacity and capabilities through the deliberate utilization of Nigerian human, material resources and services in the Nigerian oil and gas industry." "Nigerian company" is a company registered in Nigeria in accordance with the provisions of Companies and Allied Matters Act with not less than 51% equity shares by Nigerians. Bidders shall consider Nigerian content as an important element of their overall project development and management philosophy for project execution.

ii.

Tenderer shall be category A/ AA/ AAA vendor in the NCDMB NOGIC marine vessel categorization or provide a binding Memorandum of Agreement with a Category A/ AA/ AAA vendor in the NCDMB NOGIC marine vessel categorization. Provide details of its Ownership Structure.

iii.

Submit certified true copies of CAC form (C02 and CO7) including Memorandum and Article of Association. For Nigerian company in alliance with a foreign company or multinational, submit evidence of binding agreement of the alliance duly signed by the CEO's of both parties.

iv.

Submit a plan on how it intends to give first consideration to services provided from within Nigeria, raw materials and manufactured & assembled goods of Nigerian origin, in order to comply with the requirements of the NOGICD 2010 Act, and achieve the set target(s) in the Schedule of the Act i.e. 50% of total spend achieved with Nigerian personnel, materials, equipment and services for Jack Up Production Unit. The plan must show utilization of Nigerian labour, services, Materials and Equipment for this service in order to achieve the requirements of the NOGICD Act.

Demonstrate key Management positions that are Nigerian nationals and the percentage of the Company total workforce (direct and in-direct employees) that are Nigerians

vi.

Submit a plan on how it intends to provide Human Capacity Development and Personnel Training

vii.

Provide evidence of application for NIGERIAN CONTENT EQUIPMENT CERTIFICATE (NCEC) issued by Nigerian Content Development and Monitoring Board (in respect of any components, spares, equipment, systems and packages to be used on the project

Bidders' failure to comply with the NOGICD Act or demonstrate commitment to Nigerian Content development will result in Bidder's disqualification.

5. NIMASA Compliance with the Coastal and inland Shipping (Cabotage) Act 2003 is a prerequisite for consideration and participation in the tendering process.

6. CLOSE DATE This tender opportunity is open for fifteen (15) working days and shall close to interested bidders by 1600hrs on Wednesday, October 5th, 2016.

7. ADDITIONAL INFORMATION i.

Interested Suppliers must be prequalified for this product/ service category in NJQS.

ii.

Full tendering procedure will be provided only to Contractors that have been successfully prequalified in NJQS.

iii.

This advertisement shall neither be construed as an Invitation to Tender (ITT) nor a commitment on the part of MPN to award a contract to any Supplier and/or associated companies, Sub-contractors or Agents.

iv.

This advertisement shall not entitle prequalified companies to make any claims whatsoever, and/or seek any indemnity from MPN and/or its partners by virtue of such companies having been prequalified in NJQS.

NNPC/MPN reserves the right to reject any and or all prequalified suppliers at its sole discretion and at no costs whatsoever.

vi.

All costs incurred in registering and prequalifying for this and other product/ service categories in NJQS shall be borne solely by Suppliers.

vii.

Suppliers that are prequalified for this product/ service category in NJQS must ensure that the name and contact details (physical address, email address and telephone number) of their company and authorized/ responsible personnel is up-to-date in their company profile in the NJQS database.

viii.

MPN shall communicate only with the authorized/ responsible personnel of prequalified companies and not through unauthorized individuals or Agents.

As part of their technical tender submissions, prequalified Tenderers shall: i.

Provide a description of its committed infrastructure (asset, equipment, technical office, and administrative space, storage, workshop, assembly area, repair, and maintenance, testing, laboratory, etc) in Nigeria (offices, equipment etc) to support this contract, evidence that a minimum of 50% of all equipment deployed to work by multinational and international companies are owned by the Nigerian subsidiary.

Please visit the NipeX Portal at www.nipex-ng.com for this Advert and other information

Mobil House, Lekki Expressway, Victoria Island, P.M.B. 12054, Lagos

T H I S D AY • WEDNESDAY, SEPTEMBER 14, 2016

COMMENT

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

CÔTE D’IVOIRE, NIGERIA AND RECESSION Côte d’Ivoire holds lessons for Nigeria, writes Sonnie Ekwowusi

he seemingly irreversible cataclysms trailing some Africa countries should not give rise to Afro-pessimism. Paradoxically despite Africa’s great potential, it is still being depicted in many parts of the world as a dark continent. For example, whenever the CNN or the BBC is focusing on Africa, it is not unlikely that it will show photographs of malnourished African children or African children suffering from kwashiorkor or picture of African rebels as evidence of our depressing situation in Africa. Therefore a time has come for Africa to look inward and re-discover its strength and build on it. One of the ways this can be achieved is by exploring the trade relations that exist among African countries. Instead of abandoning Nkwame Nkrumah’s Pan-Africanism and slavishly waiting for the West to provide solutions to their economic woes, African countries should look inward and harness their economic potential. Africa, it is said, can rule the world if it can explore about 2% of its trade potential. Little wonder the first ever Made-in-Nigeria Products and Services Trade Fair took place in Abidjan, Côte d’Ivoire, September 2-6, 2016. Organised under the auspices of the Embassy of Nigeria, Côte d’Ivoire, the trade fair was aimed at bringing the Nigerian businessmen and their Côte d’Ivoire counterpart together in order to foster mutual commercial gains as well as explore new trade grounds between the two countries and other countries. Significantly, Ambassador of Nigeria in Côte d’Ivoire, Mrs. Ifeoma Akabogu-Chinwuba explained that the trade fair was part of the response of the Embassy of Nigeria, Abidjan to President Muhammadu Buhari’s clarion call to diversify the Nigerian economy and seek other sources of revenue to increase Nigeria’s revenue. Côte d’Ivoire stands out as the hub of commercial activities in the Francophone countries and second largest market after Nigeria in the African sub-region. Therefore it is not surprising that the trade fair took place in Côte d’Ivoire. The theme of the trade fair was: Exploiting Commercial Potential for a Durable Economy. The trade fair drew many participants from Nigeria, France, Côte d’Ivoire and other Anglophone and Francophone countries. Nigerian companies and organisations which exhibited their products and services at the trade fair included Dangote Cement, Erisco Bonpet, La Campagne Tropicana Beach Resort, Young Shall Grow Motors, Nigerian Community, Côte d’Ivoire and Bond Chemical Industries Limited. Nigerian writers, musicians, artistes and Nollywood producers also exhibited their intellectual properties at the fair. The general perception in Nigeria is that the Nigerian economy is the biggest in Africa, towering above that of Côte d’Ivoire and other Anglophone and Francophone countries. In his book, Nigeria and France 1960-1995: The Dilemma of Thirty-Five years Relationship, Prof. Bola Akinterinwa writes that considering her abundant human and material resources Nigeria is constantly expecting France and Francophone countries to acknowledge her economic superiority in Africa. But from what transpired at the aforesaid trade fair and from emerging entrepreneurial skills in the Côte d’Ivoire market, the superiority of Nigeria is no longer the issue. Both Nigeria and Côte d’Ivoire stand to derive mutual benefits from a bilateral trade especially now that Nigeria is striving to come out of economic recession.

BOTH NIGERIA AND CÔTE D’IVOIRE STAND TO DERIVE MUTUAL BENEFITS FROM A BILATERAL TRADE ESPECIALLY NOW THAT NIGERIA IS STRIVING TO COME OUT OF ECONOMIC RECESSION

To begin with, Côte d’Ivoire has an enabling environment that is conducive for business. Unlike Nigeria, Côte d’Ivoire enjoys an uninterrupted electricity supply. For example, throughout my three-day stay in Abidjan, electricity supply never blinked for a second. While prices of foodstuffs soar in Nigeria, major foodstuffs like rice are comparatively cheaper in Côte d’Ivoire. Even though Côte d’Ivoire is still recovering from the ravages of war and ethnic hostilities, the impression a first-time visitor gets right from Felix Houphouet Boigny International Airport in Abidjan is that Côte d’Ivoire is a neat and an orderly country. For example, while the public toilets at the Muritala Mohammed International Airport ooze suffocating odour, the public toilets at Felix Houphouet Boigny International Airport are neatly kept. I flew the Côte d’Ivoire national carrier called Air Côte d’Ivoire. My impression flying the airline is that it is a well run and managed airline. Some attribute Côte d’Ivoire’s success to its low population (about 25 million). I hold a contrary view. The political and economic progress recorded in Côte d’Ivoire, at least in the last five years, is mainly attributable to good political leadership and prudent economic planning and management. While Nigeria has abandoned cocoa and palm oil production and export, cocoa and palm oil are still the main sources of revenue in Côte d’Ivoire. Antoine, my Côte d’Ivoire friend, who was kind enough to drive me round in his car, showed me the wide expanse of land containing Côte d’Ivoire’s cocoa and palm oil plantations. He told me that the oil boom has brought doom to Nigeria. With this assertion, he alluded to the fact that the oil wealth has made Nigerians lazy. Antoine, of course, was right. With oil boom came free money to Nigeria. Free money, in turn, begot laziness, extravagance, wasteful expenditure, life of debauchery and squandermania. Therefore, if Nigeria truly wants to come out of recession, Nigerians must shun the aforesaid vices. First: President Buhari should lead by example. He should give up the presidential jets that have become too costly to maintain. It is an irony that in this period of recession the president is still maintaining fleets of jets while Nigerians are ravaged by poverty. Second: to cut down recurrent expenditure, President Buhari should scrap or merge the bloated public service structures in Abuja. If little or no work is done in most federal government ministries, parastatals and commissions in Abuja, why should the federal government spend a fortune in maintaining them and their staff? So, if the Buhari government seriously wants Nigeria to come out of recession, it should do away with the Abuja wastes that drain the national treasury. On their part, the citizens should learn to stick to moderation and hard work. In his book: Family Management in Nigeria’s Depressed Economy, Mr. J. O. Ojiako explains how frugality, hard work, altruism and civic virtues can sustain families in an economy like ours that has slipped into recession. For example, a family should have no difficulties in planting crops like yam, maize, vegetables, and tomatoes around the house and in the farm to sustain it. All said, the lessons from Côte d’Ivoire have shown that little things can a make a difference in the life of a nation.

NIGERIA AND THE SCOURGE OF POVERTY

Nwabueze Akabogu contends the government needs an economic team to guide the country out of recession

he Nigerian people have never had it so bad in the history of the country. The scourge of poverty is monumental and widespread in all strata of society. The so-called middle class has completely been decimated. Only a few affluent and privileged class or those commonly referred to as “high and mighty” in society representing only a negligible percentage of the population seem to have been spared by the scourge of poverty pervading the nation thanks to their massive wealth often acquired through illegitimate means over the years at the expense of the impoverished masses of the country. The present federal government seems totally incapable of proffering urgent solution to the myriad of economic cum political challenges currently confronting the nation. All that one continues to hear from the corridors of power is that hapless Nigerians should continue to exercise patience as if patience itself is limitless. The so-called change mantra which the APC as a political party orchestrated as political slogan in order to acquire power is fast becoming a ruse or simply put, an illusion as the APC government after one year into its administration has not been able to alleviate the sufferings of the Nigerian masses on whose popular mandate it came into power. President Buhari’s government appears to be seriously lacking in clear-cut goals and economic blueprints for the country hence the frequent discordant tunes coming out from his economic experts and advisers on how best to manage the nation’s battered economy which has recently moved into full blown recession according to the just released report of the National Bureau of Statistics.

The time has therefore come for all well-meaning Nigerians irrespective of their social standing or political persuasions to rise up to the occasion and speak out against the current catastrophic economic situation which is fast driving our dear nation to inevitable abyss. Urgent and decisive action must therefore be taken by all and sundry to avert the looming economic debacle in the over all interest of the nation. This writer is of the candid opinion therefore that an emergency meeting of the Council of States and other major stakeholders in the Nigerian project be summoned to deliberate on the current grave situation in the country with a view to proffering urgent solutions to the socio-economic and political quagmire facing our beloved nation. The first action to be taken by the proposed August assembly is to quickly re-organise the economic team or experts that are currently driving the nation’s economy by injecting fresh blood and ideas into the economic agenda of the government which has so far proved to be an unmitigated disaster. The nation could easily boast of abundant economic experts who are well versed in financial matters and who could easily be mobilised to quickly turn around the economic fortunes of the country. Furthermore, it has been proven time and time again that examples are far better than precepts. And it is in the light of the above that our leaders at all levels of governance are hereby called upon to take the lead in exhibiting a low profile life style both in their private and official conduct and by also displaying honest example in order to convince the people that their leaders are indeed mindful of the severe economic tribulations the masses are

presently facing in their daily lives. It has become imperative therefore that the outrageous personal emoluments enjoyed by the public office holders in the country beginning with the president of the nation, the state governors, National and State Houses of Assembly, ministers down to the state commissioners and other political functionaries must be reduced by at least 50% if the nation must overcome her present economic predicament. Another area of grave concern to the Nigerian public which must be tackled head on is the issue of financial wastages and recklessness in governance as well as the opulence and arrogant display of power by public office holders who often move around in convoys of up to 20 official vehicles as well as the reckless blaring of sirens on our ill- maintained roads which more often than not tend to drive the poor masses into the bush to avoid being crushed. This state of affairs obviously portends great danger to society as the impoverished masses who are daily battling for their personal survival always watch with utter disgust and consternation the arrogant display of power and opulence by their elected officials whose primary responsibility is to provide succour to their seemingly hopeless economic situation. Should the authorities concerned decide today to take concrete measures by curtailing the financial wastages including drastic reduction in the number of political office holders and hangers-on in governance, the quantum of savings derivable from the process would be adequately deployed for the services of the people who are presently undergoing terrible and excruciating hardship in the country.

The immediate fall-out of the current economic recession in the country is the fate of the national currency, the naira, which has systematically depreciated to its all-time low ever with the current exchange rate at the parallel market put at more than N420 to the US dollar. The attendant consequence of this economic catastrophe is that the prices of basic commodities in our local markets are completely beyond the reach of the hapless masses. To further compound the rather ugly situation is the recent report that the giant automobile company, the Innoson Vehicle Manufacturing Company (IVM) has suddenly been shut down and hundreds of its work force sent packing due to the shortage of foreign exchange with which the company normally procures its component parts (CKD). Similar cases abound in the country with the negative consequences for the nation’s economy. It is the height of insensitivity on the part of the federal government that all these sad developments are happening at such a critical period in the nation’s history when the government ought to be doing everything possible within its powers to encourage and protect the local industries for optimum productivity and economic growth. In this era of economic recession and unimaginable level of poverty, thousands of workers were unceremoniously thrown into the labour market thereby worsening the economic situation in the country. Through its act of omission or commission, the federal government inadvertently seems to be planting a time bomb which might explode at any moment if urgent and decisive actions are not taken to stem the dangerous tide. Nze Akabogu (JP) wrote from Enugwu-Ukwu, Anambra State

T H I S D AY • WEDNESDAY, SEPTEMBER 14, 2016

EDITORIAL CHILDREN AND ABUSE OF DRUGS

All stakeholders must step up measures to contain the widespread threat to the future of the nation

he recent outcry by the Gombe State Command of the National Drugs Law Enforcement Agency (NDLEA) over the use of illicit drugs among children under 15 years, calls for urgent action by critical stakeholders in our country. The children, according to the antidrug agency, inject themselves with prohibited substances. And from NDLEA’s investigation, these substances often embolden them to carry out all sorts of crimes. Indeed, many of the young men who reportedly were involved in unprotected sex are presently down with the HIV/AIDS virus. Only few people would be surprised by the damning revelation. Hard drugs, ranging from cannabis, often called Indian hemp, to cocaine, heroin and amphetamines are increasingly available on the street in most towns in Nigeria and abused by both the young and the old. Yet, these are substances that cause serious problems for the user and the society at large. Heroin and amphetamine-type stimulants and over-the counter drugs are also being increasingly abused in most of our cities. IT IS IMPORTANT FOR Even when statistics RELIGIOUS AND CULTURAL may be hard to come ORGANISATIONS TO by, there must be a JOIN IN THE EFFORTS correlation between TO RID OUR SOCIETY OF the abuse of drugs and THIS DANGEROUS HABIT the prevalence of crime in Nigeria. Many of THAT CAN ONLY IMPACT the audacious crimes NEGATIVELY ON THE FUTURE OF OUR COUNTRY including vicious robberies and murders, raiding of banks, prisons, churches and kidnappings, are said to be aided by drugs, going by the confessions of the culprits that were caught. What compounds the problem is that Nigeria is one of the largest growers of cannabis in the West African sub-region. Hectares of cannabis plantations have been discovered in Edo and some areas in the South West,

Letters to the Editor

particularly Osun State. And because the weed is grown locally, it is easily available, cheap and therefore the most abused of the illegal drugs in the country. But the real danger now is that many of our young people are already hooked on a substance that is more or less a one-way traffic to destruction. Therefore, we are worried about the future of the nation when several of its youths are on substance abuse. It is more disturbing especially when our institutions do not really keep enough data to know what we are battling with and the needed infrastructural facilities to handle the deepening crisis. Experts have always argued that due to medical consequences of the prohibited substance abuse, there is increased disease prevalence that is made more difficult to treat while the lifestyle associated with addiction also contributes to a heavy cost on healthcare in the country.

T H I S DAY

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rom different findings, individuals with addiction and chronic illnesses such as asthma, cardiovascular disease or diabetes, are less likely to recover as quickly as others with the same illness but no addiction. Drugs and alcohol abuse lead to high healthcare cost and without adequate health facilities here in Nigeria, we will continue to fritter scarce resources. It is a notorious fact that Nigeria loses billions of dollars annually to India for medical tourism. There is no doubt that the threat of drug abuse has eaten deep into the fabrics of our society; but we still believe that with effective counselling programmes and enlightenment campaigns, the problem could be tackled. Therefore, the government, at all levels, should create drug awareness units, especially in schools. It is also important for religious and cultural organisations to join in the efforts to rid our society of this dangerous habit that can only impact negatively on the future of our country. At a time the nation is facing a serious economic challenge, the social problem of having our young people hooked on drug is a major issue that should attract the attention of not only the government but all stakeholders in the Nigerian project.

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.

NIGERIA AND FAILURE OF POLITICAL LEADERSHIP

e all know that Nigeria’s singular problem is the failure of political leadership. Since our attainment of political freedom in 1960, we have always had the misfortune of being led by politicians and military rulers with messianic complexes, who failed to rise above ethnicity, religious bigotry, and corruption. They mismanaged our economy, stalled our political evolution, and suspended our march to technological greatness. And they could not unite the diverse ethnic nations that make up Nigeria, although they’re aware that the peaceful existence of the people(s) in a country is a pre-requisite for that country to attain greatness in diverse areas. The long- suffering people of Nigeria have been yearning for change. So, not surprisingly, during the 2015 presidential election, the All Progressives Congress’ electioneering slogan of change found resonance among us, partly because its presidential candidate, Muhammadu Buhari has a persona of forthrightness, incorruptibility and probity. Since the dawn of the fourth republic, General Buhari (rtd.) had taken shots at the presidency without success. And he would go to court to challenge his electoral defeat each time he lost the presidential poll. Good fortune smiled on him in 2015 and he won the presidential poll. The factors that propelled him to the highest political office in Nigeria were the people’s discontentment and disenchantment with Dr. Goodluck Jonathan’s administration, APC’s strong political machinery and its well-oiled propaganda outfit, and his reputation as a man of probity. More than one year has elapsed since he became our president, yet he has failed to bring about change in Nigeria as he had promised. Instead of tackling our multifarious national problems

headlong, he has kept on behaving as though we’re still in the campaign period. And he blames our current problems on the immediate past political regime’s massive looting of our collective patrimony. Is he aware that corruption in Nigeria pre-dates the government of his predecessor? He is elected to remedy and fix our ailing economy, and not to lament over our worsted and pillaged national economy. It is sad to note that President Buhari hasn’t evinced and manifested the tendencies and traits of a visionary, detribalised, and competent national leader. Because he behaves like a troglodyte, who is with provincial and fossilised mindset, ethnic chauvinism, and religious bigotry, he didn’t consider factors outside party loyalty, ethnicity, and religion when he formed his executive cabinet. And it took him a great deal of time to form his cabinet that is peopled by avaricious, recycled and tired politicians. Most of them can be likened to a square peg in a round hole. A columnist without experience in educational administration is manning the education ministry. Solomon Dalong, who is a lawyer and weirdo, has been committing faux pas and verbal indiscretions. Is Audu Ogbeh, an old politician, revolutionising the agriculture sector? Is he a patch on his predecessor in office in terms of competence? Worst still, competence and the federal character have ceased to be factors that influence and determine the people who will occupy topmost positions in our federal organisations. He has embarked on the northernisation and privatisation of federal establishments in Nigeria. And Nigerians are worst for it. When a national leader is perceived to be an ethnic chauvinist and religious bigot, the feelings of marginalisation and ethnic nationalism will well up among the people. Expectedly, a section of the country will start to agitate for statehood. Now, the IPOB group

is clamouring for political sovereignty in the South-east. And there is resurgence of militancy in the South-south with its calamitous and disastrous consequences. The measure of a great leader is his or her ability to rise above his or her ethnic cocoon and religion and unite the diverse people(s) of his country while offering them purposeful and goal-driven leadership. President Buhari has succeeded in beating back the rampaging Boko Haram insurgents in the North-east. But his government appears to be helpless regarding the issue of securing the release of the Chibok girls, who are still in captivity. The parents of those hapless girls are anguished and distraught owing to the plight of their children. Sadly, the Bring Back Our Girls Group led by the indefatigable Oby Ezekwesili is being blackmailed and brow-beaten to give up their fight for the safe return of the girls. President Buhari has not shed his toga and mentality of high-handedness, although he is claiming to be a democrat. Instead of doing the needful to restore smiles on our faces, Buhari is so obsessed with fighting corruption that other government programmes are neglected. But what has the government done with the stolen money recovered so far from former office holders? Did the government inject it into our economy? Our economy is wobbling and reeling from the effects of the plummeting global oil prices. Many states in the federation that rely solely on financial handouts from the centre cannot meet their financial obligations to their workers. Privately-owned organisations are downsizing. So many out –of- work people are contemplating suicide. The Saturday Punch and Saturday Sun newspapers of September 10, 2016 were replete with sad tales of disillusioned people, who committed hara-kiri. Chiedu Uche Okoye, Uruowulu-Obosi, Anambra State

WEDNESDAY SEPTEMBER 14, 2016 T H I S D AY

T H I S D AY WEDNESDAY SEPTEMBER 14, 2016

T H I S D AY • WEDNESDAY, SEPTEMBER 14, 2016

MIDWEEKPOLITICS

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

THE NEWSMAKER

Espousing the Katsina Dream Katsina State Governor, Aminu Bello Masari has a dream for the state and is beginning to live it, writes Ibrahim Shuaibu

oming back from a business trip to China and India a fortnight ago, where he had gone to attract investors as well as showcase the potential that abounds in Katsina State, Governor Aminu Bello Masari said he had been better prepared on how to boost the economy of his state. Masari, a former Speaker of House of Representatives also said he was not unaware of the fact that boosting the economy comes with commensurate infrastructure development to enhance the Internally Generated Revenue through agriculture, power, education and standard health care delivery. At a recent economic summit held in the state, Masari, before President Muhammadu Buhari and his economic team, reiterated that Katsina was endowed in both natural and human resources and called on the captains of industry and other investors not to miss the opportunity to invest in a promising Katsina with a view to laying an even solid foundation for the growth of the state and also have value for their money. “Now, in the health sector, we have already placed order for equipment for three general hospitals. We have also made an advert for the recruitment of over 600 medical staff. And right now, we have employed them in our Special Hospitals to offer professional services. Now, we are doing that, even in other sectors. “For instance, in our own University – the Umar Musa Yar’Adua University wants to start offering medical courses and you cannot operate a department of Medicine without a standard Teaching Hospital. For this reason, we wrote to the Federal Ministry of Health, because Gombe was given a Federal Medical Hospital and it was updated to Teaching Hospital. “Ebonyi was also given. So, on the basis of these two experiences, we wrote and the Federal Ministry of Health replied us that they could not, because they also have a federal institution right in the future in need of services of a Federal Medical Centre. Now, I came back home, and say to myself: why can’t we start looking at what we have and see how we can upgrade them. So, we invited our own professionals, and again, we have also invited international consultants, that will come and see how we can harmonise working with their own professionals because like I told you, once you have somebody who was a Managing Director of a Teaching Hospital for eight years, and as a Vice Chancellor of a University for eight years, he is sufficiently equipped. “You have somebody who is managing a Teaching Hospital now in Sokoto who is also from Katsina; we feel he is sufficiently experienced to offer advice. And we have a Professor, also from Katsina, who was the immediate past Vice Chancellor and has headed the ABU (Ahmadu Bello University, Zaria), Teaching Hospital. These three and from between them, they can give us a report that nobody can beat. And the good part of it is that it will be free-of-charge because they are Katsina indigenes. So, we are working.” Continuing, he said “we are also looking at upgrading the Dental Clinic in Daura to international standard. From what we have done to that Dental Clinic already, we can even do a Degree programme there on Dentistry. So, if we look at raising that Department; and with an Eye Centre as a department, we can have a very good Teaching Hospital that can serve our own University, which we believe is better. It may take us two to three years, but it is better, and that is what we are starting now. We are projecting to have a Teaching Hospital that we can call our own, that can work with our own university.” On Agriculture, Masari said “We are making serious progress. The Deputy Governor is the chairman of the Agriculture Team. He is also

Masari...living the Katsina dream

the Commissioner in charge of Agriculture. We also brought in a professional, who was a consultant to various international organisations on Agriculture, Dr. Abba Abdullahi. I must tell you that I am impressed by what they are doing now. They are doing a ground work. “You know, agriculture is not all about fertilizer because mere distribution of fertilizer is all about ceremony, which the governors are very interested in doing so that the cameras and media will capture them. Here in Katsina, we are doing the most important work now. We are doing the census because we want to know who-is-who. We are identifying the real farmers; we are identifying the farm lands; we want to know which type of fertilizer is suitable for the farmlands and which implements are suitable for the farmlands. We are doing the basic ground work, we have sufficient money in place; and when we are through with the ground work, we will also start rehabilitating some of the smaller dams. “When we were campaigning, what we were saying was that given the availability of resources, it is our intention to provide a dam in each of the Wards, intending to open the availability of small steam that can engage between 30 to 50

At a recent economic summit held in the state, Masari, before President Muhammadu Buhari and his economic team, reiterated that Katsina was endowed in both natural and human resources and called on the captains of industry and other investors not to miss the opportunity to invest in a promising Katsina with a view to laying an even solid foundation for the growth of the state and also have value for their money

farm lands on irrigation agriculture. So, for us, we need a comprehensive study. “Like we said several times, this government is not, and there is no intention of approaching any project blindfolded so that we can achieve quick and unsustainable political gain. That means we want to play to the gallery. No. We want to be realistic, we want to true to our words. Basically, we have to do what is right; we want to lay a solid foundation for a more sustainable agriculture in Katsina State.” The governor hinted that they had started discussing with some interested people about wood farming, being a new arm of farming. He said people are yet to know that with two hectres of wood land with annual harvesting, “you make more money than the farmer. There are certain types of trees that you plant that will give inexplicable returns. So, we are introducing wood farming so that people will know the benefit and the dangers of falling trees without re-planting them.” Specifically on rice production, he said “Just like you observed that Katsina is one of the leading states in rice production, and you know, there is a serious drought on rice. You know that Nigerians have been cultured into eating rice. It is unlike when I was growing up, the stable food then was guinea corn and millet. “Later on, maize came. In fact, maize was more of a ceremony food during our time, but as time moved on it became a stable food with the coming of the Funtua agricultural project in the 1970s. So, really, I think it is better to eat what you have and what you can produce than to depend on somebody to give you. So, I believe, there are some difficulties initially; but when we are able to cross over the difficulties of this year, by next year, there will be abundance in rice production in Katsina state. “In fact, prices of rice have started going down because the new rice are already in the market and I am sure, between now and October, the prices of rice will relatively stabilise. You are also aware that the Central Bank of Nigeria is organising one project on the promotion of rice production, and in Katsina State, we have 50, 000 participants.” Addressing the purpose of his trip to China and India, Masari said “We were invited to China by some companies that are doing business with the Katsina State Government and some that are interested in doing business with the government.

The purpose was for us to see their offices and their capacities outside the country, and to see what connection we have in order to facilitate our development projects. “Based on our invitation, we met with those companies that are doing business with the government and those companies who are in Nigeria and have the intention to do business with us. There are some of these companies that have their branches here in Katsina but are doing business with the federal government, but due to this visit, we have now opened door for business transactions with those companies.” Importantly, he said, “We had interactions with the main company that is doing the rehabilitation of the Katsina Water Supply scheme. We will also continue discussions with them on how to revive irrigation water supply. This very project has been on the drawing board for a very long time. During our campaign, we were requested by the people of Danja about provision of dam. “We promised that we would look into it, look at the resources we have and how best to go about it and that is what we are doing today. Initially, I was of the opinion that it was a small project, but when the report was brought to me, I realised that it is a huge project meant for irrigation and water supply. “And you know strategically, Danja needs irrigation agriculture for two reasons: one, for Sugar Cane production, because in Katsina, Danja holds the highest potential in terms of Sugar Cane production; and you could remember that the federal government under the late Umar Musa Yar’Adua did a project for Sugar Cane refinery in Danga even though, like other projects of its kind, it did see the light of the day in the real sense of it. However, ours is to make sure that the farms, irrigation facilities and water facilities are ready; and most of the investors in our agricultural projects are showing interest in the Danja project.” Masari spoke passionately on his desire to make Katsina a health-tourist state, linking the current economic situation in the country to insecurity. “You know full well that we know the global current economic situation, it is not Nigeria alone; it is all over the world. We were in China, and we saw the situation. We know the pains and we have joined the pains and the ideas. We have gone through Dubai, and we also saw the pains and the ideas; and those far away in Saudi Arabia also confirmed to us that the place is idle; and that the prices of goods have doubled. “So, what we have gone through is a global phenomenon, but our own has its own peculiarities. We have issues of security and the Boko Haram. Here, locally in Katsina, we are facing the problem of Cattle Rustling and kidnapping which is as a result of the pressure mounted on Cattle Rustlers. “Now, the Cattle Rustlers have resorted to kidnapping, especially, in our two Local Governments – Dandume and Sabuwa; and also, at the national level, we are facing the militancy in Niger-Delta and the vandalism and destruction of oil installations and you see, even the Gas pipeline that is supplied to other West African countries also suffered in this act of sabotage.” In rounding off, the governor emphasised that while on the business trip, “we met with companies that are doing business with our government and as I am speaking with you, we have a job going on in Zobe town. Also, we met with other companies that have their presence here in Nigeria—they spoke to us and we are thinking to know how we can start business with them and they signified their interest to come to Katsina to construct roads. NOTE: Interested readers should continue in the online edition on www.thisday.com

T H I S D AY • WEDNESDAY, SEPTEMBER 14, 2016

PERSPECTIVE

MIDWEEKPOLITICS

Flipping the Corruption Myth Corruption is by far not the main factor behind recalcitrant poverty in the global south, writes Jason Hickels

ransparency International recently published their latest annual Corruption Perceptions Index (CPI), laid out in an eye-catching map of the world with the least corrupt nations coded in happy yellow and the most corrupt nations smeared in stigmatising red. The CPI defines corruption as “the misuse of public power for private benefit”, and draws its data from 12 different institutions including the World Bank, Freedom House, and the World Economic Forum. When I first saw this map, I was struck by the fact that most of the yellow areas happen to be rich Western countries, including the United States and the United Kingdom, whereas red covers almost the entirety of the global South, with countries like South Sudan, Afghanistan, and Somalia daubed especially dark. This geographical division fits squarely with mainstream views, which see corruption as the scourge of the developing world (cue cliche images of dictators in Africa and bribery in India). But is this storyline accurate? Many international development organisations hold that persistent poverty in the Global South is caused largely by corruption among local public officials. In 2003, these concerns led to the United Nations Convention against Corruption, which asserts that, while corruption exists in all countries, this “evil phenomenon” is “most destructive” in the global South, where it is a “key element in economic underperformance and a major obstacle to poverty alleviation and development”. There’s only one problem with this theory: it’s just not true. Whereas (US) congressional seats are not yet available for outright purchase, the Citizens United vs FEC ruling allows corporations to spend unlimited amounts of money on political campaigns to ensure that their preferred candidates get elected, a practice justified under the Orwellian banner of ‘free speech’. Corruption, superpower style According to the World Bank, corruption in the form of bribery and theft by government officials, the main target of the UN Convention, costs developing countries between $20bn and $40bn each year. That’s a lot of money. But it’s an extremely small proportion – only about 3 per cent – of the total illicit flows that leak out of public coffers. On the other hand, multinational companies steal more than $900bn from developing countries each year through tax evasion and other illicit practices. This enormous outflow of wealth is facilitated by a shadowy financial system that includes tax havens, paper companies, anonymous accounts, and fake foundations, with the City of London at the very heart of it. Over 30 per cent of global foreign direct investment is booked through tax havens, which now collectively hide one-sixth of the world’s total private wealth. This is a massive – indeed, fundamental – cause of poverty in the developing world, yet it does not register in the mainstream definition of corruption, absent from the UN Convention, and rarely, if ever, appears on the agenda of international development organisations. With the City of London at the centre of the global tax haven web, how does the UK end up with a clean CPI? The question is all the more baffling given that the City is immune from many of the nation’s democratic laws and free of all parliamentary oversight. As a result of this special status, the City of London has maintained a number of quaint plutocratic traditions. Take its electoral process, for instance, more than 70 per cent of the votes cast during council elections are cast not by residents, but by corporations – mostly

Corruption is a major driver of poverty, to be sure. But if we are to be serious about tackling this problem, the CPI map will not be much help. The biggest cause of poverty in developing countries is not localised bribery and theft, but the corruption that is endemic to the global governance system, the tax haven network, and the banking sectors of New York and London. It’s time to flip the corruption myth on its head and start demanding transparency where it counts

Buhari...understanding the dynamics of corruption

banks and financial firms. And the bigger the corporation, the more votes they get, with the largest firms getting 79 votes each. This takes US-style corporate personhood to another level. To be fair, this kind of corruption is not entirely out of place in a country where a feudalistic royal family owns 120,000 hectares of the nation’s land and sucks up around £40m ($65.7m) of public funds each year. Then there’s the parliament, where the House of Lords is filled not by election but by appointment, with 92 seats inherited by aristocratic families, 26 set aside for the leaders of the country’s largest religious sect, and dozens of others divvied up for sale to multi-millionaires. Corruption in US is only slightly less blatant. Whereas congressional seats are not yet available for outright purchase, the Citizens United vs FEC ruling allows corporations to spend unlimited amounts of money on political campaigns to ensure that their preferred candidates get elected, a practice justified under the Orwellian banner of “free speech”. The poverty factor The UN Convention is correct to say that poverty in developing countries is caused by corruption. But the corruption we ought to be most concerned about has its root in the countries that are coloured yellow on the CPI map, not red. The tax haven system is not the only culprit. We know that the global financial crisis of 2008 was precipitated by systemic corruption among public officials in the US, who were intimately tied to the interests of Wall Street firms. In addition to shifting trillions of dollars from public coffers into private pockets through bailouts, the crisis wiped out a huge chunk of the global economy and had a devastating effect on developing countries when demand for exports dried up, causing massive waves of unemployment. A similar story can be told about the Libor scandal in the UK, when major London

banks colluded to rig interest rates so as to suck around $100bn of free money from people even well beyond Britain’s shores. How could either of these scandals be defined as anything but the misuse of public power for private benefit? The global reach of this kind of corruption makes petty bribery and theft in the developing world seem parochial by comparison. This raises an interesting question: which is more corrupt, the petty dictatorship or the superpower that installs it? But this is just the tip of the iceberg. If we really want to understand how corruption drives poverty in developing countries, we need to start by looking at the institutions that control the global economy, such as the IMF, the World Bank and the World Trade Organisation. During the 1980s and 1990s, the policies that these institutions foisted on the Global South, following the Washington Consensus, caused per capita income growth rates to collapse by almost 50 per cent. Economist Robert Pollin has estimated that during this period, developing countries lost around $480bn per year in potential GDP. It would be difficult to overstate the human devastation that these numbers represent. Yet, Western corporations have benefitted tremendously from this process, gaining access to new markets, cheaper labour and raw materials, and fresh avenues for capital flight. These international institutions masquerade as mechanisms for public governance, but they are deeply anti-democratic; this is why they can get away with imposing policies that so directly violate public interest. Voting power in the IMF and World Bank is apportioned so that developing countries – the vast majority of the world’s population – together hold less than 50 per cent of the vote, while the US Treasury wields de facto veto power. The leaders of these institutions are not elected, but appointed by the US and Europe, with not a few military bosses and Wall Street executives among them.

Joseph Stiglitz, former chief economist of the World Bank, has publicly denounced these institutions as among the least transparent he has ever encountered. They also suffer from a shocking lack of accountability, as they enjoy special “sovereign immunity” status that protects them against public lawsuit, when their policies fail, regardless of how much harm they cause. Shifting the Blame If these patterns of governance were true of any given nation in the global South, the West would cry corruption. Yet such corruption is normalised in the command centres of the global economy, perpetuating poverty in the developing world while Transparency International directs our attention elsewhere. Even if we do decide to focus on localised corruption in developing countries, we have to accept that it does not exist in a geopolitical vacuum. Many of history’s most famous dictators – like Augusto Pinochet, Mobutu Sese Seko, and Hosni Mubarak – were supported by a steady flow of Western aid. Today, not a few of the world’s most corrupt regimes have been installed or bolstered by the US, among them Afghanistan, South Sudan, and the warlords of Somalia – three of the darkest states on the CPI map. This raises an interesting question: Which is more corrupt, the petty dictatorship or the superpower that installs it? Unfortunately, the UN Convention conveniently ignores these dynamics, and the CPI map leads us to believe, incorrectly, that each country’s corruption is neatly bounded by national borders. Corruption is a major driver of poverty, to be sure. But if we are to be serious about tackling this problem, the CPI map will not be much help. The biggest cause of poverty in developing countries is not localised bribery and theft, but the corruption that is endemic to the global governance system, the tax haven network, and the banking sectors of New York and London. It’s time to flip the corruption myth on its head and start demanding transparency where it counts. - Hickel lectures at the London School of Economics and serves as an adviser to The Rules •Culled from Aljazeera online

WEDNESDAY, SEPTEMBER 14, 2016, â&#x20AC;˘ T H I S D AY

FEATURES

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

A War Chest against Maritime Crimes Chiemelie Ezeobi writes on the Nigerian Navy's acquisition of 60 gunboats, to boost its war chest to tackle maritime criminalities, especially militancy, pipeline vandalism and piracy on the nation's waterways

ith over 3,000 creeks and inland waterways in Nigeria, some of which had remained unpatrolled and out of reach to the security forces, it was unavoidable that crime would foster in such areas. An example that readily comes to mind is the cartel of vandals that had taken over such creeks in Arepo, Ishawo, Awawa and Igando, in both Lagos and Ogun States. As the military forces were wiping out the vandals, they were going in deeper into the creeks and mangroves, where the navy's patrol boats find difficult to access. Their reign of terror lasted for decades until the recent Operation Awatse, an Hausa word for 'Scatter' was launched. Again, it took the intervention of the airforce air power to destroy the camps and enclaves of the vandals, who had hitherto held the area hostage. This was because the creeks were designed in such a way that was inaccessible to bigger gunboats owned by the navy. Most of the creeks can only be accessed using smaller dugout boats and canoes, hence the need for the navy to up its game. Not to be forgotten is the various unaccessed creeks that dot the Niger Delta region, which had fostered the issue of militancy that Nigeria is presently battling to curb. It was as a result of these challenges that the Nigerian Navy recently took delivery of 39 extra newly produced gunboats and the second indigenous Seaward Defence Boat (SDB) built locally by the Nigerian Navy (NN), to fight militancy and other maritime criminalities. Aside the boats, the navy also inaugurated 45 operational vehicles to be shared amongst commands and units of the NN, to aid operational efficiency. The acquired maritime platforms include 30 Epenal boats, three Wave Riders, six Arrow Heads, as well as NN pride, NNS KARADUWA, a 28.9 meters SDB, fabricated and built indigenously by personnel of the navy. These 39 were to back up the former ones inaugurated earlier this year, summing it up to 60 new gunboats in the fleet of the navy to effectively deal with the scourge of oil theft, sea robbery and piracy. Security experts said the navy would require a minimum of 40 of these classes of boats on patrol everyday in order to dominate the vast expanse of the nation's territorial waters especially in the current emerging security challenges in the maritime domain. Though the boats are small, their small nature is what is needed to gain access to the creeks and its fast nature is another plus. They are designed to undertake such security tasks as maritime interdiction, anti-smuggling, anti-illegal bunkering and sea robbery. The Preview of the Inauguration In line with naval tradition, every new boat is inaugurated and dedicated before it is deployed to its Area of Responsibility (AOR). Thus, on that fateful Wednesday, all roads led to Naval

The boats are fitted with appropriate weapons. They also benefitted from a better antiballistic protection... I am hopeful that the boats being launched today would further boost the ongoing patrol efforts in the various rivers and creeks of the country

Demonstration of the gunboats

Some of the newly inaugurated naval gunboats

Dockyard, Victoria Island, Lagos. Given the clement weather, the event was held under the clear blue skies with canopies as shade. The event, which was anchored by the Command Information Officer of Western Naval Command, Lieutenant Commander Chinwe Umar, was kick started by the arrival of the special guest of honour, the Minister of Defence (MOD), Mansur Dan-Ali who inspected the quarter guard mounted in his honour. Afterwards, the entourage moved to the jetty of the navy dockyard where NDL Admiral Superintendent showed the guests the processes involved in constructing the SDB. Then the Chief of Naval Staff, Vice Admiral Ibok Ette-Ibas made his welcome remarks before the act of dedication of the boats by the chaplain and the Imam, Lieutenant Commander NI Dakwo and Lieutenant Commander RK Rumah, respectively. Then the MOD formally inaugurated the boats before dovetailing into his remarks. The entire guests then moved to the jetty for a brief demonstration by the boats. After that, the guests embarked on several boats for a five-minute journey across the water to Nigerian Navy Ship (NNS) Beecroft parade ground in Apapa for

the inauguration of the 45 vehicles. At the August occasion were the Minister of Defence, Mansur Dan-Ali, who was represented by the Permanent Secretary, Ministry of Defence, Ambassador Danjuma Sheni; Chief of Defence Staff (CDS), General Gabriel Olonisakin; the Chief of the Naval Staff, Vice Admiral Ibok Ette Ibas; the Flag Officer Commanding, Western Naval Command, Rear Admiral Fergusson Bobai, who was the chief host for the occasion. Also present were the Chief of Training and Operations (CTOP), Rear Admiral Adeniyi Osinowo; the FOC Naval Training Command (NAVTRAC), Rear Admiral Ifeola Mohammed; the Admiral Superintendent, Naval Dockyard Limited, Rear Admiral Adetokunbo Lateef Akintola; the Director of Information, Commodore Chris Ezekobe; Air Officer Commanding (AOC), Nigeria Air Force Logistics Command, Air Vice Marshal Sani Ahmed, who represented the Chief of Air Staff, Air Marshal Sadiq Abubakar; the General Officer Commanding (GOC), 81 Division Headquarters, Major General Isidore Edet, who represented the Chief of Army Staff, Lieutenant Tukur Buratai; the Assistant Inspector General of Police, Zone 2, AIG Abdulmajid Ali, who

represented the Inspector General of Police, Ibrahim Idris; Lagos Commandant of the Nigerian Security and Civil Defence Corps (NSCDC), Mr. Tajudeen Balogun, amongst other senior officers. The Navy's Pride Although other gunboats were inaugurated that same day, the focal point of the day was the NN pride, which is the 28.9 meters Seaward Defence Boat (SDB), Nigerian Navy Ship (NNS) KARADUWA, which is the second indigenous boat built locally, after NNS Andoni. Therefore, during the inauguration, it was with joy and pride that the entourage moved to the jetty to inspect the nation's second indigenous but well improved boat. Thus, the entourage moved to jetty of the navy dockyard where NDL Admiral Superintendent showed the guests the processes involved in constructing the SDB. Crafted with pride by the Nigerian Navy engineers and architects, it's inspired by the River Town Class, as is the first SDB, NNS Andoni, in line with NNS Yola and NNS Brass. It was inaugurated four years after NNS Andoni was inaugurated in 2012. Given the Cabotage Act, the NNS KARADU-

WEDNESDAY, SEPTEMBER 14, 2016, â&#x20AC;˘ T H I S D AY

FEATURES

L-R: FOC West, Rear Admiral Bobai_ CDS, General Olonisakin and CNS, Vice Admiral Ibas

L-R: FOC Western Naval Command, Rear Admiral Fergusson Bobai; Senate Committee Chairman on Navy, Senator Isa Aman-Isa ; Permanent Secretary, Ministry of Defence, Ambassador Danjuma Sheni; Chief of Naval Staff, Vice Admiral Ibok Ette Ibas; Chief of Defence Staff, General Gabriel Olonisakin and other guests at the inauguration of the boats in Lagos...recently

WA, is therefore an attempt by the NN to be self-reliant in local construction of boats. Recall that after the inauguration of NNS Andoni, the inverted hull was constructed as a single unit, after which the superstructure was built as a separate entity and was later brought together to form the boat. Afterwards, the inverted hull was turned upright and placed on keel squares before the welding of the superstructure, construction of the tanks, piping, electrical installations and propulsion installations. Given the successes recorded in the NDL, especially in construction of indigenous boats, the navy had earlier said it was considering opening the dockyard up for use by stakeholders in the maritime sector. A recent interview credited to the DINFO, Commodore Chris Ezekobe and earlier published by THISDAY, indicated that given the state-ofthe-art facilities of the dockyard, the capacity of the dockyard is beyond the navy itself, as there are certain facilities that are yet to be utilised by the Nigerian public. Already, the dockyard has a galvanising plant, a foundry plant, various precision workshops and even a carpentry workshop that stakeholders can utilise. Federal Government's Impression The Minister of Defence, Dan-Ali, who was represented by the Permanent Secretary, Ministry of Defence, Ambassador Danjuma Sheni, inaugurated the boats and the vehicles at the Naval Dockyard Limited and Western Naval Command respectively. According to him, the emerging security challenges in the country have had great consequences on the polity in the North-east and the Niger Delta region of our nation. He said, "These challenges have continued to demand a great deal of human and material resources to surmount, which in the light of dwindling revenue would be sustainable only with generous innovations and incorporations of home grown solutions. Accordingly, the

strategic vision of President Muhammadu Buhari in a spirited response to the peculiar challenges confronting the nation and the NN's decision to look inwards by contracting local ship building venture is highly commendable. "The fact that the Epenal boats were built by the Nay Dockyard Limited (NDL), the leading shipbuilding and repairs facility of the navy speaks volume about the technological capacity that we have here at the dockyard. The Epenal Boat Yard, Port Harcourt was contracted to construct 30 by 8.2m boats for the navy in 2015, which was delivered earlier this year. These were immediately inducted into the service and used for rigorous patrols in the Niger Delta. Their availability has helped to stem the tide of criminal activities in the area. Encouraged by the success of the venture, the contract for a further 50 was immediately awarded which has yielded the additional 30 boats being launched today and the remaining 20 will be delivered

I can say we are gradually but steadily moving towards the saturation of the nation's backwaters with patrol boats for improved security of our maritime domain. NN operations have transcended the creeks and seas areas to hinterlands of our country. The boats will be deployed optimally by various relevant navy units

subsequently. "As with the first wave, the boats are fitted with appropriate weapons. They also benefitted from a better antiballistic protection and other facilities being an improvement promised at the launch of their precursors. I am hopeful that the boats being launched today would further boost the ongoing patrol efforts in the various rivers and creeks of the country to the immense benefit of the nation's maritime security. "In the same vein, the acquisition of three Wave Riders and six Arrow Head boats through the Excess Defence Account from Sri Lanka, was also achieved at a highly competitive and cost effective price. It is anticipated that their deployment to different Forward Operating Bases (FOB) would help in the curbing the unfolding illicit activities within the territorial contiguous zone. Furthermore, it is also satisfying that in fulfillment of one of the rings of the objective Spectrum Maritime Strategy, she is increasingly employed in land based operations, which imposes a requirement capacity for land mobility." Ibas's Testimonial In his speech afterwards, the CNS, Vice Admiral Ette-Ibas said, "This occasion is momentous in that we launched 30 locally constructed boats by Epenal Group of Companies, nine Wave Rider and Arrow boats acquired from Sri Lanka, as well as the inauguration of a mix of 45 vehicles for the Nigerian Navy. "Earlier this year, the NN was privileged to launch 30 Epenal built patrol boats at a ceremony performed by the Chief of Defence Staff, General Gabriel Olonisakin, in Port Harcourt, on February 24, 2016. â&#x20AC;&#x153;These boats no doubt, have boosted navy maritime operations. However, as part of the efforts to continue to achieve unchallenged dominance of our maritime environment, the navy within a space of six months has launched another 39 specially built patrol boats into her fleet. "This number is an improvement over the 30 referred to earlier. These efforts, both then and now, represent navy's modest contribution to

enhance national security and prosperity. Of the 39 boats launched, nine were acquired from Sri Lanka and would be greatly helpful for patrol of territorial waters and the contiguous zone. "But it's in the 30, which were locally built that I will accord emphasis. The decision of the navy to consider to take such bold steps of building 60 boats locally from the two delivered lots and with 34 more to join shortly, could be considered as part of the resolve to look inwards in the production of our naval hardware. "Furthermore, the mounting operational challenges in the face of progressive dwindling economy necessitated the navy to explore more cost saving options through local construction of these patrol boats. For immediate appreciation as I declared in February, the cost of production of a unit of the boat is less than half the cost of producing similar boats from overseas. This rate has been kept despite the massive erosion of Naira value between November 2015 when the production was contracted and now. "In the launching of their forebears in Port Harcourt, when a public notification of the order for the boats being launched today was made, I had the privilege to assure that they will be inducted with improved features. I am pleased to report that this assurance was well kept as the boats retained all positive features of the previous set including being fitted with appropriate weapons for credible firepower. "Additionally, it benefitted from the incorporation of anti-ballistic protection, giving it edge for more audacious and aggressive employment. They are also expected to present a better sea-keeping ability with a wide margin for the many corrections applied to the design concept of Lot 1, through series of stage trials in the production cycle. "I can say we are gradually but steadily moving towards the saturation of the nation's backwaters with patrol boats for improved security of our maritime domain. The boats will be deployed optimally by various relevant navy units. Their induction will certainly enhance the navy's capability at carrying out her statutory roles and also assist immensely for the navy to keep the criminals at the back foot. "In recent times, NN operations have transcended the creeks and sea areas to the hinterlands. Thus, the navy is equally engaged in land operations like most other security agencies. However, for a long time, the personnel of the NN have faced enormous challenges in land mobility as a force. These challenges became more worrisome when vehicles were needed to respond to emergencies and they were not sufficient to move the troops. "As part of the efforts to mitigate the challenges in this regard and enhance the welfare of the NN personnel, I have had the honour to add 45 assorted vehicles to boost NN activities on land again. In the history of the NN, it is the first time such numbers of vehicles are being added to the service's vehicular fleet at one go. "Just as the boats, the vehicles being launched today would be deployed appropriately to various NN units, this would surely ease the transportation challenge encountered by personnel in the would be beneficiary units. It shall also enhance NN's response capability at carrying out her statutory roles and add verve to the fight against insurgency, kidnapping, crude oil theft and other land-based vices. Besides the navy, the vehicles would also be available to support sister services and other security agencies in time of dire needs, upon request. "We thank President Muhammadu Buhari for the grant of resources to secure these assets, as well as the Minister of Defence for his untiring advocacy for the navy. But we also solicit for further understanding, especially in the area of logistics support for the deployment and sustenance of these boats and vehicles." Backing of the Senate Visibly impressed with the achievements of the navy under Ibas, the Senate Committee on Navy pledged their support for the naval forces, especially as regarding allocating more funds for the service. The Senate Committee Chairman on Navy, Senator Isa Aman-Isa, said the committee was doing everything possible to ensure the navy gets the necessary resources to tackle maritime insecurity to the fullest. To whom much is given, much is definitely expected. Therefore, with this massive deployment, it is expected that the navy will take advantage of these additional platforms and put them to good use in curbing maritime illegalities on the nation's waterways.

IMAGES

WEDNESDAY, SEPTEMBER 14, 2016, • T H I S D AY

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

L-R: Regional Coordinator, South-west, Nigerian Export Promotion Council (NEPC), Mr. Babatunde Faleke; Nollywood actress, Mrs. Mercy Aigbe-Gentry; Regional Head, Bank of Industry, Mr. Obaro Osah; and the Managing Director, Simplified Corporate Logistics, Mr. Nduka Udeh, during the inauguration of One Click Import/Export Solution for Nigeria Business, in Lagos...recently

L-R: Proprietor, Nova Food Limited (Super Shop), Abraham Orji; his wife Doris; Group Executive, Consumer Banking, Ecobank, Patrick Akinwuntan; and acting Head, Consumer Distribution, Tunde Kuponiyi, during the pilot testing of Ecobank MasterPass QR new innovative payment solution to enable buyers pay for goods with their phones by scanning a Quick Response (QR), at the merchant location, in Lagos...recently

L-R: Quality Control and Quality Assurance Auditor, Inlaks Computers Limited, Mr. Oladeji Oladunni; a facilitator, Mr. Olusola Fasogbon; trainees, Ms. Olufisayo Adedipe; Mr. Elliot Sangoleye; and the Project Manager, Inlaks Computers Limited, Mr. Abayomi Subair, during the Inlaks Solar training for bank workers, as a CSR initiative of Inlaks company, in Lagos...recently

Chairman, Olojo Festival Advisory Committee, Oba ldowu Adediwura; Obalufe of lremo Quarters, lle-lfe (left), and Consultant, Olojo Festival, Otunba Ayo Olumoko during the signing of MoU between the Advisory Committee and lnfogem Nig Ltd on Olojo Festival at the palace of Oonirisa, lle-lfe...recently

L-R: Bishop of Ondo Diocese, Most Rev. Dr. Jude Arogundade; Ondo State Governor, Dr. Olusegun Mimiko; Bishop of Ibadan Diocese, Most Rev. Gabriel Abegunrin; and the Archbishop of Catholic Archdiocese of Lagos, Most Rev. Alfred Martins, during a visit by the Catholic bishops to the Governor’s Office, ahead of the All Nigerian Catholic Bishops Conference, in Akure...recently

L-R; Otunba of Itire, Tajudeen Odubiyi; Onitire of Itire, Oba Lateef Akanbi Dauda; Chief Imam of Itire, Alhaji Kazeem Onipele Saheed and Chief Rasaq Dauda at Anser – Ud Deen Mosque praying ground to mark EldEl-Kabir celebration in ltire, Lagos...recently

L-R: Director General, Nigerian CivilAviation Authority (NCAA), Capt Usman Muktar; Minster of State For Aviation, Santor Hadi Abubakar Sirika; and Pamanent Secretary Ministry of Aviation, Alhaji Sabiu Zakari, during the Aviation Forum with Stakeholders in Lagos recently. kolawole allI

Olojora of ljora, Oba Fatai Oyeyinka Aromire Ojora, distributing Rice and cow meat to the people of ljora community, during the Eid el kabir celebration, at his Palace, in Ijora, Lagos...recently

WEDNESDAY, SEPTEMBER 14, 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

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Quick Takes TEF Holds Entrepreneurship Forum

REWARD FOR EXCELLENCE

L-R: Recipient of Bank CEO of the year Award/CEO, Access Bank Plc, Herbert Wigwe; President, Lagos Chamber of Commerce and Industry (LCCI), Mrs. Nike Akande; Regional Financial Director, Nigeria & Ghana, AirFrance KLM, Edwin Visser; a former Deputy Governor of Lagos State/representative of Lagos State Governor, Femi Pedro, and Publisher/CEO, BusinessDay Newspaper, Frank Aigbogun, during the BusinessDay 2016 Banking Award, held at Eko Hotel, Lagos ... recently ETOP UKUTT

High Port Charges: Nigerian Importers Divert Cargoes to Neighbouring Countries Obinna Chima Importers in Nigeria are now diverting cargoes to neighbouring countries to avoid undue restrictions at the country’s ports and high custom duties, a report has disclosed. The Chief Executive Officer of the Financial Derivatives Company Limited (FDC), Mr. Bismarck Rewane, disclosed this in his monthly economic news and views for September presented at Lagos Business School recently. This, he attributed to higher customs duties, bottlenecks and forex shortages, adding that smuggling activities are expected to increase. Clearly, this may jeopardise the federal government’s efforts

ECONOMY to boost non-oil revenue following the fall in crude oil prices. Nigeria is officially in an economic recession. The National Council of Managing Directors of Licensed Customs Agents (NCMDLCA), recently identified lengthy and cumbersome documentation process on export, multiplicity of regulatory/security agencies, high and duplicated terminal/ shipping company charges and process and lack of export infrastructures as major obstacles that affect export process from Nigerian ports. In a letter to the Executive Director of the Nigerian Export Promotion Council (NEPC) and

copied President Muhammadu Buhari, the Nigerian Ports Authority (NPA) and the Nigerian Shippers Council (NSC), NCMDLCA had called on the federal government to take urgent steps to remove the obstacles before it is too late. The letter signed by its National President, Lucky Amiwero alleged that: “ The federal government agencies duplicate the process of quality inspection with that of the appointed federal government pre-shipment inspection on export. This constitutes serious bottleneck due to lengthy and cumbersome process, procedure and cost, which resulted in attendant delays and high costs that prompted the movement of

our product to our neighbouring West African Ports.” On the duplication of charges by shipping companies, the customs agents said: “The Nigerian Shipping companies in line with the contract of carriage, handle import container that are loaded back to the country of origin as empty container without any charge due to the level of export activities that is still very low in the country. The shipping lines Terminal Delivery Charges (TDC) is a charge that is not tied to service, as such charge is duplicated in the charges of terminal operators. Their charges do not represent any service to Continued on page 24

‘Nigeria is Gradually Returning to Pre-pension Reform Era’ Ebere Nwoji A pioneer board member of the National Pension Commission (PenCom) and a member of the Fola Adeola’s presidential Committee that initiated the introduction of pension reform in Nigeria,Mr. Ivor Takor, has said that Nigeria is gradually returning to the pre-pension reform era, where retired public servants and pensioners were not sure when their retirement benefits and pensions would be paid. This is coming on the heels of a recent assertion by a retiring teacher in Lagos State that retired teachers in the state receive their

PENSION lump sum payment from their Contributory Pension Scheme (CPS), two years after retirement. The duo said this was caused by the failure of government to pay accrued rights of workers under the old Defined Benefit Scheme to PenCom for onward transfer to their Pension Fund Managers (PFAS) as well as government’s failure to remit its part of contributions to workers’ Retirement Savings Acciount(RSA). The federal government, according to PenCom, has outstanding N20 billion to pay as accrued rights of its workers, who migrated from

the old Defined Benefit Scheme to the current CPS. Until this is transferred to their various RSAs, their retirement benefit cannot be paid completely. Takor, who is currently the Executive Director of Centre for Pension Right Advocacy (CPRA), said since the regime of President Muhammadu Buhari has from the on set,shown interest in the welfare of workers by releasing bail out fund to pay outstanding salaries of workers, it is now time for retired and retiring federal public servants to be bailed out by their employer, which is the federal government. The“bailout”of these categories

of public servants has to take the form of immediate remitance into the RSA of employees of federal public servants all the arrears of pension contributions of the employees and that of their employer, which is federal government, with the appropriate interest. A failure to remit the arrears contributions, amounts to noncompliance with the provisions of the Pension Reform Act 2014 by the government. It also amounts to rubbing federal public servants by their own employer”. Continuing, he said:“Secondly, Continued on page 24

The Tony Elumelu Foundation (TEF) has revealed that its 2016 Entrepreneurship Forum will hold in Lagos between Thursday 27 and Saturday 29, October 2016. The TEF Forum is an annual gathering of selected entrepreneurs and key stakeholders within the African entrepreneurial ecosystem. A statement from the organisers said this year’s edition will host the second class of 1,000 emerging entrepreneurs from 54 countries in Africa to forge partnerships, share insights and receive foundational information to help their businesses thrive. TheTEFForumisaninternationalplatformforAfricanentrepreneurs to form business partnerships with Pan-African and global business leaders, policy makers and investors. It will promote continent-wide integration by creating a Pan-African entrepreneurship ecosystem that fosters creativity, innovation, collaboration and trade among entrepreneurs all across Africa.TheTEF Forum will convene African and global leaders to engage with African entrepreneurs who are developinginnovativeentrepreneurialsolutionstoAfrica’seconomic challenges and change the African narrative.“Through this forum, policy makers and the international development community will recognise and embrace entrepreneurship, as the new model for the development of Africa and beyond, as we shape the local, national, regionalandglobalagendaforthegrowthofAfricanentrepreneurship through public and private cooperation. “It is the hallmark of the TEF Entrepreneurship Programme, our 10-year, $100 million commitment to identifying, training and funding 10,000 African entrepreneurs,” it added.

Firm Partners MasterCard

Impactinvestingpioneer,RootCapitalhasannouncednewpartnership withThe MasterCard Foundation that will help raise incomes for over 300,000 smallholder farmers in West Africa. The Foundation has committed $5.2 million to Root Capital over five years to support early-stage agricultural businesses that generate transformational impact in rural communities in Côte d’Ivoire, Ghana, and Senegal. “With Root Capital we will help to bring much-needed financing and capacity building to businesses in West Africa that work with farmers otherwise excluded from the formal economy,” Director of Financial Inclusion and Youth Livelihoods at The MasterCard Foundation, Ann Miles said.“We see this as a good avenue to help increase incomes and opportunities for 4,000 employees of agricultural businesses, 300,000 smallholder farmers, and over two million farm family members.”Without access to predictable markets for their crops, small-scale rural farmers are often forced to accept lower prices for their crops and find themselves trapped in a cycle of poverty. While the global credit supply for smallholders has grown in recent years, it is geographically skewed with less than 10 percent of financial flows reaching sub-Saharan Africa.Over the seven years that Root Capital has worked in West Africa, it has provided loans of between $50,000 and $2 million to 52 agricultural businesses that have raised incomes for nearly 12,000 employees and over 190,000 smallholder farmers. Root Capital has also scaled its advisory program in the region, offering agricultural business leaders a suite of training modules to develop the leadership and financial management skills they need to grow and sustain their businesses.

Oracle Drives Cloud Adoption in Africa

Exchange of best practices and gaining expert insights from top cloud strategists was the key focus for Oracle customers, who took part in Oracle’s two day long ‘Africa Executive Summit’ that concluded in Mauritius recently.Dozens of Oracle customers gathered to understand various aspects of the cloud adoption process including capacity building, innovation, security and the ability to leverage Internet ofThings (IoT) for driving business growth with Oracle cloud solutions.The Vice President of the Russia, Africa and Central Europe, Oracle, Janusz Naklicki commented: “Cloud adoption in Africa is growing at a rapid pace as organizations now realise that cloud offers them speed, value and better ROI. Africa is a priority market for us and the Africa Executive Summit is in line with our commitment to further drive this interest and support our customers in Africa in their journey to the cloud.”

“I assure you that this administration is working round the clock to remove the hardships the country is going through”

President Muhammadu Buhari

WEDNESDAY, SEPTEMBER 14, 2016, • T H I S D AY

BUSINESSWORLD HIGH PORT CHARGES: NIGERIAN IMPORTERS DIVERT CARGOES TO NEIGHBOURING COUNTRIES exporters in Nigeria in any form.” Continuing, Rewane in the report pointed out that ships awaiting berth decreased to 41 from 45 last month, adding that ships awaiting berth are expected to decline further. According to the report, weakness in macroeconomic condition in the country has translated to profitability decline by most quoted companies. He said earnings and profitability fell short of expectations as investor confidence worsened. For the banking industry, the report pointed out that 74.6 per cent of industry revenues in their recently released half-year results amounted to N1.21 trillion concentrated in tier I banks. “Industry’s profitability is slowed by high loan loss charge offs and rising operating costs. Impairment charge continues to record high credit losses of N218.9 billion for first half of 2016, from N41.3 billion as at first half of 2014. ‘NIGERIA IS GRADUALLY RETURNING TO PREPENSION REFORM ERA’ the government should make sufficient payment into the Retirement Benefits Bond Redemption Fund Account in the Central Bank of Nigeria to ensure that retiring federal public servants are paid their retirement benefits as at when due in line with the objectives of the CPS. In doing the aforesaid, the government will only be meeting up with its obligations in line with the provisions of the Pension Reform Act 2014 and not a bailout”, he stated. Takor, whose organisation has as its objectives advancing the rights of pensioners through advocacy; promote a fiscally responsible pension administration system through advocacy and workers/pensioners education and rendering legal advice and assistance to indigenous pensioners, urged federal government not to be a “Father Christmas” by paying outstanding salaries of states government workers, while at the same time failing in her legal and moral obligations to her own employees.

Group Business Editor

Chika Amanze-Nwachuku AgriBusiness/Industry Editor

NEWS

‘Policy Inconsistency, Bane of Nigeria’s Economic Challenges’ Obinna Chima The Chartered Institute of Personnel Management (CIPM) has said that policy inconsistency over the years in Nigeria is a major factor that has led to the stunted economic being experienced in the country. The President/Chairman of Governing Council, CIPM, Mr. Anthony Arabome, said this at an interactive session on the Management of National Unemployment Challenge (MNUC) held in Lagos recently. The findings from the MNUC also showed that other issues ranging from poor political governance and setting of policy direction that elicit a harsh business environment, lack of stakeholders’ ownership of employment policy, misalignment of the educational system output and the skill-sets required by current employers of labour were also causes of unemployment in the country. To that effect, the CIPM boss said the committee had made viable recommendations aimed at shaping government’s policy decisions concerning the various ramifications of unemployment. According to Arabome, findings from the MNUC, a study conceived by the leadership of the CIPM as a response to the social, economic and political challenges of managing unemployment in Nigeria. He said the journey of the report

was championed by a 7-man committee headed by a Fellow and one-time Registrar/CEO of the Institute, Dr. Musa Rabiu (FCIPM), to collaborate with the federal government in providing implementable and sustainable solutions to the unemployment challenge in the country. This, he said was because indicators had shown that unemployment in the country was growing at an

increasing rate, with serious attendant consequences. “For instance, data from the National Bureau of Statistics have shown that youth unemployment has grown from an average of 16.43 percent in 2014 to 21.50 percent in the first quarter of 2016. “Therefore, as human resource management experts, our objective is to proffer and recommend actionable and sustainable solutions which

finely align with the current Administration’s focus on job creation initiatives geared at combating this national menace,” he added. According to him, the CIPM Nigeria is in a vantage position, and is ready to collaborate with government and other stakeholders to change the unfortunate situation in the country, by providing learning and development interventions

in support of the achievement of the goals and objectives of organisations in the public and private sectors of the economy; provision of expertise and training required for the ministries, departments and agencies’ (MDAs) effective pension management; and designing and facilitating a coaching and mentoring scheme for organisations in the formal and informal sectors.

PUBLIC POLICY DIALOGUE

L–R: A former Managing Director/CEO, Hallmark Bank, Chief Mark Wabara; member, Advisory Board, Public Policy Forum, Dr. Akogun Tola Adeniyi; Attorney-General, Ogun State, Dr Olumide Ayeni, representing the Ogun State governor; Chairman, Board of Director, Institute for Policy and Economic Development, Dr. Kalu Idika Kalu; acting Managing Director, Bank of Industry (BoI), Waheed Olagunju; and the Chief Executive Officer, The Nigerian Stock Exchange (NSE), Oscar N. Onyema, at a Business Hallmark Public Policy Forum...recently

CBN Tasks States to Set Up Bank of Industry Okon Bassey in Uyo The Central Bank of Nigeria (CBN) has advised states without a Bank of Industry to facilitate the establishment of one in order to speed up industrialisation and other economic development across the country. The Assistant Director, Development Finance Department of CBN, Abuja, Mr. Babatunde Ogunleye made the call recently in Uyo, Akwa Ibom State while responding to questions from newsmen. He argued that such an institution with the primary mandate to finance the processing of raw materials and industrialisation of the nation is better positioned to help the micro, small and medium scale enterprises (SMEs)

in the country. Ogunleye expressed dismay that in some states without the establishment of the BoI, citizens are compelled to go extra miles like the nearest state to present proposal or seek assistance from the bank on the financing of projects. The Assistant Director who was in the state for a public enlightenment of the residents of Akwa Ibom on the activities of the CBN declared that, if there is BoI in a state “the speed of doing business will be fast and the cost of doing business will be low.” “You can easily work to the next street where there is BoI, meet the manager, present your proposal and get consider instead of may be going to Calabar or any other nearer

states, that is one of the big gains of having B0I,” he stressed. “Another gain is that, the speed of doing business, especially those who are producing raw materials will quickly get their raw materials evacuated and get paid. “The bank here will get funded because payment will get to all these banks, all these things will amount to improve and increase standard of living for citizen and government will make money quietly through tax revenue because if business and commerce move everybody is happy.” he added. Ogunleye maintained that the organised private sector and associations are the right body to partner with government to ensure the BoI

is established in their state. The sensitisation workshop being organised in all the states of the federation was to enlighten members of the public on the activities of the CBN. The three-day workshop with the theme “Promoting Financial Stability and Economic Development” was attended by farmers, cooperative societies, business entrepreneurs, industrialists, market women, bankers, civil servants and government across the state. A Senior Manager and Director of Consumer Protection Department of CBN, Sani Bako Mohammed in his presentation, said customers have the right to information, choice, safety, redress,

privacy and confidentiality and good service from any bank of choice. He disclosed that the Consumer Protection Department of the CBN has prosecuted 8,044 complaints out of which 354 complaints were against commercial banks and other financial banks. According to him, the CBN has successfully resolved complaints that involve about N35 billion explaining procedures to the audience on how to lodge complaint and follow-up. A Director in the CBN of the Electronic Banking Payment System Department, Mr. B. I. C. Madunagu briefed the participants of the Clean Note Policy of the Bank and how to handle the naira.

message, advised the graduands that as security and firemen in the airports, their commitment to honour, respect and devotion to duty must be second to none, as the career is much more than a job, but a calling. “Today, we add you as a link to our chain as members of staff of the Federal Airports Authority of Nigeria. It is a chain that is characterised by professionalism, discipline, sacrifice, team work and inter-agency collaboration”,

Enuma said. The occasion was witnessed by representatives of the Nigerian Customs, Federal Road Safety Commission (FRSC), the Police and other stakeholders. The event climaxed with the presentation of awards of excellence to those who distinguished themselves in the programme. The awards were in three different categories, for Aviation Security officers, Fire Officers and Parade Commanders.

Crusoe Osagie

Comms/e-Business Editor Capital Market Editor

FAAN Graduates 211 AVSEC, Fire Officers

Senior Correspondent

Chinedu Eze

Emma Okonji

Goddy Egene

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)

The Managing Director of the Federal Airports Authority of Nigeria (FAAN), Saleh Dunoma at the weekend presided over the passing out parade of 211 Aviation Security and Aerodrome Rescue (AVSEC) and Fire Service personnel at the Murtala Muhammed International Airport, Lagos. In a statement signed by the agency’s General Manager, Public Affairs, Yakubu Dati,

Dunoma said during the ceremony that the Authority would continue to train and develop capacity of its personnel in line with the provisions of the International Civil Aviation Organisation (ICAO). Dunoma, who was represented at the event by the FAAN Director of Maintenance and Engineering, Olufemi Ogunode admonished the graduands to put service before everything else, remarking that the ability to set priorities right would

determine the quality of their stewardship. “In an era of rapid socioeconomic changes, earning the respect and trustworthiness of your superiors, would demand exemplary followership qualities. So you have to care for your superiors and be matured in your dealings. Be receptive to their advice and accept constructive criticism”, Dunoma said. The Director of Human Resources, Hajia Salamatu B. Umar-Eluma in her goodwill

WEDNESDAY, SEPTEMBER 14, 2016, • T H I S D AY

BUSINESSWORLD

EQUITIES WATCH

Bounteous Harvest for Conoil Shareholders Having grew its profit by 176 per cent, Conoil Plc has recommended a dividend of 300 kobo for the year ended December 31, 2015, Goddy Egene writes Conoil Plc, one of the leading petroleum products marketing firm, last week announced its audited results for the year ended December 31, 2015. The results came in late considering the fact its peers have declared their performances for the 2015 and have also released the results for the half year ended June 30, 2016. No doubt the shareholders of Conoil had waited for a long time to know their fate in terms of dividend. But given the results released by the company last week, the shareholders did not wait in vein. Conoil Plc posted improved bottom-line and recommended a dividend of 300 kobo per share, which is 200 per cent above the 100 kobo paid in 2014.

shareholders,” he said. Gearing up for challenges Realising the fact that the years ahead portend greater challenges in the downstream petroleum sector and demand pragmatism on the part of the players in the industry, Conoil Plc is gearing up for the anticipated challenges and opportunities. The company has stepped up investments in the core segments of the downstream business with a view to consolidating its competitive edge and breaking new grounds to further boost its market share. The strategic investment project entails upgrading and construction of facilities in the priority areas, such as retail, lubricants, aviation and specialised products, so as to provide additional capacity that will enable it to meet the long-term needs of its growing business. According to Conoil, the focus of the initiatives being pursued is to deepen the company’s market penetration and establish new streams of income to further strengthen its competitive edge. Adenuga has consistently expressed the determination to sustain the culture of taking advantage of opportunities in the emerging markets and organising efforts and resources along enduring strategies for top performance. “There is an ongoing review of our business processes to boost commercial, innovation and supply chain efficiencies, to improve focus on growth opportunities and to enhance competencies that will drive accelerated progress,” he said.

Corporate profile Conoil Plc (formerly National Oil and Chemical Marketing Plc) was incorporated in 1960 as a private limited liability company. The company was converted to a public company in 1991. In the year 2000, the Federal Government of Nigeria through the Bureau of Public Enterprises (BPE) bought 40 per cent issued ordinary shares of the company held by Shell Company of Nigeria (UK) Limited. Following its privatisation, Conpetro Limited acquired 60 per cent of the shares of the company. As a result of a rights offering by the company in 2002, Conpetro Limited now holds 74.4 per cent while members of the Nigerian public hold the remaining 25.6 per cent stake in the company. Conoil Plc has Dr. Mike Adenuga (Jr) as chairman while Mr. Tejbir Singh Sawhney is managing director. Executive directors are: Mr. Wasiu Adeyinka Adebiyi, Mr. Akin Fabunmi and Miss Abimbola Michael – Adenuga. Other directors include: Dr. M. E. Omatsola; Babatunde Okuyemi; Mr. Mike Jituboh and Mr. Ike Oraekwuotu. Financial results The audited results of the company for 2015 beat the expectation of the market. Although revenue fell by 35.4 per cent to N82.9 billion, from N128.4 billion in 2014, profit after tax soared by 176 per cent to N2.308 billion, from N834 million in 2014. An analysis of the results showed that apart from the fact Conoil Plc adopted cost containment strategies to improve bottom, other income and foreign exchange gains contributed significantly to the profit. The company reduced cost of sale from N114.5 billion to N71.4billion, while administrative expenses was reduced from N8.2 billion to N6.8 billion. Cost of finance rose from N2.3billion to N3.8 billion. However, Conoil Plc realised N2.718 billion other income. This is in respect of interest income on delayed subsidy payments represents net interest cost claims received from PPPRA arising from delayed subsidy payments relating to products imported. Similarly, the company realised N2.53 billion from exchange gain. Consequently, the company ended the year with profit before tax of N3.448 billion, as against N1.532 billion in 2014 and profit after tax of N2.3038 billion, up from N834 million in 2014. Following this impressive performance, the company has proposed a dividend of N2.08 billion, translating to 300 kobo per share compared with the 100 kobo paid in 2014. Company’s comments Conoil attributed the improved performance to efficient management of resources, effective cost control policy, as well as reaping from its huge investment in the expansion and upgrade of its facilities. “For us, the downstream sector remains fundamentally attractive and viable today and the future. With our clarity of direction and focus, our company’s long-term success is assured. We will sustain this improved performance and vigorously pursue our aspiration to remain the nation’s leading petroleum products marketer and one of the most profitable quoted companies,” the company said. The Chairman of Conoil, Adenuga Jr, had last year assured shareholders that notwithstanding the tough challenges in the country and indeed in the downstream petroleum sector, the company would explore to the fullest, new opportunities that abound in the industry to its advantage

Adenuga

the quality of its products and services with a strong bottom-line as its focus. “These measures have positively contributed to our successful outing to reward our loyal

and deliver higher returns. Adenuga also assured investors of the company’s commitment to cost cutting measures in its operations, vast improvement in CONOIL FULL YEAR FINANCIAL SUMMARY 200 150

JUNE 2014 N128.4bn

JUNE 2014 N114bn

100 95 90 85

JUNE 2015 N82.9bn

JUNE 2015 N71.4bn

75 70 65 60 55 50 45 40 35 30 25 20

JUNE 2014 N8.2bn

JUNE 2015 N6.8bn

10 05

JUNE 2015 N2.3bn

JUNE 2015 N3.4bn JUNE 2014 N1.5bn

JUNE 2014 N0.834bn

REVENUE

COST OF SALE

ADMIN EXPENSES

PROFIT BEFORE TAX

PROFIT AFTER TAX

Improved depots/facilities Conoil’s state of the art facilities at its depots in Lagos and Port Harcourt give it significant leverage in storage and blending of products, in conformity with the world’s best industry practices. The depots ensure availability and prompt delivery of products and services to customers nationwide. In Port Harcourt, the company regularly augments its storage capacity for different products to meet the demands of customers in the south-south, south-east and the northern regional markets. This has improved throughput at Port Harcourt and also saved transportation time and cost of moving products from Lagos to these areas. Similarly, a new full-fledged depot in Calabar is well under way, which would have storage tanks for aviation turbine fuel (ATF), automotive gas oil (AGO) and premium motor spirit (PMS). According to the company, the depot would also have hi-tech loading gantries with allied facilities of international standard. Besides, as part of efforts to boost its bottom-line, Conoil has also repositioned its lubricants business, building two additional oil blending plants in Apapa, Lagos and another one in Port Harcourt, all of which the management said had pushed up its production capacity significantly. The company also introduced into the market, a new brand of engine oil called Okada Golden Super which is manufactured specially for 4-stroke motorcycles and tricycles. Conoil also consolidating its stronghold on the aviation fuel marketing business in terms of spread, storage capacity and maintenance support. The company said major airlines plying the Nigerian airspace have been taking full advantage of the unique services. “Its impressive storage facilities give the company unmatched capacity to meet the needs of local and international customers. The hi-tech bowsers as well as quality product and service delivery, which are of essence in the industry, are some of the reasons the Conoil continues to attract the best of clientele in that sector,” the company said. There have also been increased investments in the retail segment as the company is currently upgrading over 400 filling stations across the country, while plans are on to acquire another 250 stations that would significantly boost its retail network. Apart from the ongoing project of building one mega station in each state capital, it has sustained its special university campus scheme, under which retail outlets are being located on the campuses of designated universities and polytechnics across the country.

WEDNESDAY, SEPTEMBER 14, 2016, • T H I S D AY

BUSINESSWORLD

ANALYSIS

NSE and Investors Protection

Goddy Egene writes on efforts by the Nigerian Stock Exchange to protect investors and make the nation’s capital market more attractive One of the major reasons investors patronise the stock market is the protection of their investments. Once investors feel that their investments are safe, they remain in the market and also increase their participation. The current low patronage of the Nigerian stock market is partly attributed to the losses they suffered during the 2008 and 2009 market downturn. Many of them believe the protection they got from regulators in the past was not enough and are therefore reluctant to return to the market. However, current market regulators have intensified efforts to protect investors in order to increase their participation in the market. MoU with EFFC For instance, the Nigerian Stock Exchange (NSE) signed a Memorandum of Understanding (MoU) in 2013 with the Economic and Financial Crimes Commission (EFCC). This MoU was aimed at tackling market infractions and curbing market abuses because of its zero-tolerance stance on infractions by dealing member firms and listed companies. This partnership has successfully opened direct lines of communication and information sharing with the EFCC for reporting and investigation of incidents, leading to a more proactive law enforcement and swift recovery of stolen securities. The initiative recently led to the arrest of three individuals suspected of forgery, impersonation and fraudulent sale of shares. No doubt the exchange has done well in putting in place necessary institutions and policies to protect investors. Stakeholders believe what is needed now is the encouragement and support of all market operators to advance the course of the market for the good of the nation’s economic advancement as well as creating wealth for those who form the habit of saving and investing. The Longman Business English Dictionary defined investors’ protection as “Actions to encourage honest advertising of financial products, and to prevent fraud to make sure that investors do not lose money if their investments default. However, the extent to which an investor can be protected is defined by the commercial laws and the enforcement of such laws such that investors are protected from expropriation by company insiders”. In the capital market, investor protection is usually measured by indicators that quantify explicit protections awarded to shareholders and creditors by corporate, bankruptcy, and re-organisation laws, as well as the quality of law enforcement. Examples of such explicit protections are those that impact shareholders’ ability to vote down directors, including whether to allow shareholders to vote by proxy. Analysts believe that difference in investor protection across countries are substantial and are responsible for difference in the development of financial markets and ultimately for differences in economic development. In Nigeria, the Investment and Securities Act (ISA) 2007 provides the ways and manners investors are protected. In line with Part XIV of the ISA 2007, the NSE has established an Investors’ Protection Fund and also appointed a Board of Trustees to administer it. The purpose of the fund is to compensate investors with genuine claims of pecuniary loss against dealing member firms resulting from these key areas - the insolvency, bankruptcy or negligence of a dealing member firm of the exchange; or defalcation committed by a dealing member firm or any of its directors, officers, employees or representatives in relation to securities, money or any property entrusted to, or received or deemed received by the dealing member firm in the course of its business as a dealing member firm. Other initiative to protect investors Apart from signing the MoU with EFCC, the NSE has also identified investor education as another veritable tool towards protecting investors in the capital market. The NSE kicked off its financial literacy programme in protecting investors in February 2012. This

NSE floor

programme is designed to enhance investors’ understanding of the basics of investing around portfolio construction, asset allocation and risk diversification. In 2015, The NSE conducted over 172 programmes across Nigeria, including school outreach sessions, seminars and workshops to educate investors, market participants and the general public about responsible investing and sustainable capital formation, reaching about 15,000 people.

into an investor’s nominated bank account. The initiative is a great departure from former practice where proceeds from sale of securities is paid directly into the stockbroker’s account. Stockbrokers then deduct transaction fees and remit the balance to the client’s account. Historically, issues have arisen on occasions when the proceeds of sale were not remitted into the clients’ accounts, thereby necessitating the need for the initiative.

Corporate governance rating system Also in order to promote sound practices of corporate governance, the NSE introduced the Corporate Governance Rating System (CGRS), an initiative designed to rate listed companies on the exchange based on their corporate governance and anti-corruption culture, thereby improving the overall perception of and trust in Nigeria’s capital markets and business practices. According to the Chief Executive Officer of the NSE, Mr. Oscar Onyema, the introduction of the CGRS is to improve the overall perception of the capital markets and business practices of listed companies. He said: “It is expected that companies will enjoy tangible business advantages from risk-oriented and/or ethically sensitive business partners and investors. In addition, competitors would be challenged to establish the same level of good governance by setting standards of excellence. Companies would not only set themselves apart from their peers, but also contribute to improving the climate for doing business in Nigeria.”

Smart market surveillance platform In terms of enhancing surveillance, the NSE equally acquired NASDAQ’s SMARTS Market Surveillance platform to power its compliance program. The technology will provide the NSE with the surveillance expertise needed to grow and expand the market and equip the exchange with the surveillance tools necessary to monitor market manipulation, including spoofing and layering.

Direct cash settlement Similarly, as part of efforts to protect investors by enhancing access to their cash as well as eliminating fraudulent activities in the Nigerian capital market, the NSE in collaboration with the Securities and Exchange Commission (SEC) and Central Securities Clearing System (CSCS) commenced the Direct Cash Settlement (DCS) earlier in the year. The initiative allows for the direct payment of proceed of sale of securities

X- Initiatives The NSE launched its whistleblowing portal (X-Whistle) in 2014, to enable operators, investors and other stakeholders disclose information on market infractions and abuse. The X-Alert, which is a service that allows the investing public to know when a transaction has been made on their account has also been introduced. Explaining the importance of the initiative, the NSE said: “Each time investors buy or sell a security, an alert is sent via a text message to the recipient’s mobile phone or via an e-mail to the recipient’s mailbox. The initiative brought real time notification plus transparency to the market at market rates, while safeguarding against unauthorised sale or purchase of securities.” To increase the level of market compliance, the NSE launched the BrokerTraX, a tool that provides transparency of broker and brokerage firm compliance with the rules of the market. The Exchange also introduced the X-Compliance Report, a transparency initiative designed to help maintain market integrity, by providing

compliance related updates on all listed companies. Recently, the exchange commenced the use of enhanced Compliance Status Indicator (CSI) codes on the ticker tape for listed companies, as part of efforts to further improve market transparency and integrity, provide timely information for investment decision as well as enhance the protection of investors in the capital market. Under this initiative, the exchange tags all listed companies with a three character code that indicates the compliance status of the listed company at any particular point in time. This compliance code will enable investors to make informed decisions while ensuring a transparent market guided by timely information. Access to retail bond market In a bid to ensure that retail investors benefit from the federal government bonds(FGN), the NSE collaborated with the Debt Management Office (DMO). According to the Director General of DMO, Dr. Abraham Nwankwo, there had been efforts to ensure that the FGN bonds were democratised for retail investors to participate since 2012. He said the organisation appointed Stanbic IBTC Stockbrokers to assist in the democratisation of the initiative to ensure that its services were not only for the upper class. He said: “We wanted Stanbic IBTC to assist us in making sure that every retail investor with little money can also participate in the investment thereon. The NSE is not an elitist platform for only those who are millionaires and billionaires, but also for those with little money like N10,000 to invest in the government bond and have it listed on the NSE.” Nwankwo said the move had yielded some positive results, noting that job is to encourage retail investors to buy FGN bonds and have their bonds traded on the NSE just as big investors.

WEDNESDAY, SEPTEMBER 14, 2016, • T H I S D AY

BUSINESSWORLD

INTERVIEW

Akin-Fadeyi: Mobile Money Must Become Central to Our Daily Lives The Head of Financial Inclusion Strategy of the Central Bank of Nigeria, Temitope Akin-Fadeyi, in this interview with Obinna Chima speaks on efforts by the central bank and other partners in the sector to improve the adoption of financial services in the country and reduce the number of the unbanked population. Excerpts: What is the update on the CBN’s financial inclusion strategy? As you are aware, in 2012 Nigeria released its financial inclusion strategy. Basically, what that strategy is all about was to provide a roadmap for us as a country to promote financial inclusion. Essentially, financial inclusion is all about enabling access of the adult population to financial services that is suitable, convenient and affordable to the majority of Nigerians. Between when the strategy was released and now, we have seen a number of initiatives that have been undertaken across the country. One of them is on the policy development side. Specific to the payment system, we have seen a lot of policies that have been released to promote digital financial services. One of such is the policy on shared agent network which actually supports partnership between the financial service providers and the technology firms to do financial services. It is collaboration between the financial technology companies and the service providers. Another point I will like to talk about is the release of a superagent framework which essential enables some players to become super-agents and engage other smaller agents to roll out agency banking across the country. And this is important because under financial inclusion, we observed that a key barrier is distance to access points. People traditionally have to travel over 10-20 kilometres to access a physical bank branch or a financial outlet. But the development of agency banking actually enables smaller points to be deployed in-between so that people can access basic financial services. So, those two initiatives are very key in terms of access to digital financial services and support the growth of mobile money in Nigeria which is still at the early stage of adoption. On the other side, there has been improvement in the level of financial literacy. You will recall that at the launch of the strategy, financial literacy was highlighted as one of the key initiatives that Nigerians require to take advantage of opportunities in the financial system. So, what we have seen is the development of the National Financial Literacy Framework which actually provides a blue-print as to how one can engage the population and build their financial capacity. A key initiative that is going on now is the inculcation of the financial literacy framework and financial education into the educational system in Nigeria such that we don’t have to wait until when people are adults before they start learning about financial services. They actually start to learn about the basic from the primary and secondary schools and as they grow, they become more aware about what financial inclusion is all about. Another key initiative that we can also talk about is the development in terms of making it easier to access the financial system. So, to make this happen, the Bank released the tiered KnowYour-Customer (KYC) requirement that enables financial institutions to carry out risk-based profiling of their clients. If I am a basic consumer and my transactions are not so many, I don’t need to provide very stringent requirements to open a bank account. So, tier one, with my name, phone number, passport photograph and address, I can open an account today. I don’t even need to have any amount to open it for a start. Then as I continue to bank with the institution, you can then ask me to bring formal documentation for tier two and tier three. So, the barrier of cumbersome requirements, which was highlighted as a major challenge to access to financial services, is also being overcome. So, these are some of the initiatives we have introduced. The target for the National Financial Inclusion strategy is 80 per cent by 2020. But in terms of the component of that target, there

your own, be it a loan to take advantage of a business opportunity or a loan to address an immediate for personal use. This is why I said it is both an opportunity and also a challenge. It is a challenge in the sense that earnings are affected and people don’t have as much disposable income as they had before. But with the little they have, with the right financial discipline and advise, they can make better use of it. What role do you think digital financial services would play in poverty alleviation? Digital financial services have actually been proven from research across the world, that the cost of transactions can be a lot cheaper than dealing in cash. Cash has a lot of attendant risks. The cost of moving it around and the cost of processing it are enormous. Cash is expensive. But digital financial services through different channels are cheaper and can be more affordable by majority of Nigerians. So, we need to keep pushing in Nigeria. But to make this effective, the access points need to keep growing. The service quality needs to keep improving and the consumer protection needs to be stronger, such that as you bring more people into the financial system, we are not leaving them vulnerable.

Akin-Fadeyi

are four components. The first component is the banked population- that is those that have accounts with commercial banks. From the latest EFiNA research, a bi-annual study they do, about 36 per cent of the adult population have accounts in the banking sector, about 12 per cent have accounts in what we call the formal other institutions, and about the same

A key initiative that is going on now is the inculcation of the financial literacy framework and financial education into the educational system in Nigeria such that we don’t have to wait until when people are adults before they start learning about financial services

percentage as well have accounts in the informal services such as the Esusu and the money lenders. Now, as at the study which was done in 2014, we knew that 39.5 per cent of the adult population are excluded. Those are the target areas that the central bank is focusing on and wants to bring into the financial system. And to do this, it requires collaboration between the regulator, the market operator and other players to get people to use financial services. A new research report on financial inclusion by InterMedia showed that more than four among 10 Nigerians experienced some form of economic vulnerability. With that, how do you think the present economic recession will affect your financial inclusion drive? For me, it presents both an opportunity and also a challenge. It is a challenge in the sense that when we have an economic situation of this nature, earnings are affected. But the point is that as people are enabled to embrace financial discipline, they can manage their lives better. If you look at the financial inclusion strategy, one key thing that comes out is the message on savings. Savings is not until you have a lot of money, but it is about starting with what you have. Whatever resources you have, if you are enabled to use it better and to learn, they can be better resources managers. People can also learn that when they have bank account(s) and they are in need, they can also get loans from the financial institutions to meet their needs. You don’t have to sort it out all on

One of the findings by the report mention earlier is that patronage for mobile money services is still very low in Nigeria, what is the central bank doing about that? For mobile money participation, the major concern has been limited availability of access points. If I have money on my wallet and I have to go 50 kilometres to the next banking agent, then it is no longer convenient. So, to address that concern of limited access points, we brought up the issue of shared agent network where partners can come together and develop many more dispense such that it is easy for consumers to reach. We also have the super-agent licence that has been issued presently to two operators which promotes agency banking and the deployment of more agents such that they are closer to people and the services they offer becomes more readily accessible. But the concern with agency banking is that most of the agents are concentrated in the urban areas, whereas there are lots of unbanked people in the rural areas. So, what can be done to correct that? It is a mix of approach and I agree with your observation in terms of the concentration of the access points. When we worked on the geo-spatial mapping analysis last year to actually plot out where the financial points are available, it corroborated what you just said. So, there is an on-going initiative, working with industry players to see how these points can move out from the core concentration in specific regions of the country, to move them around. But the call is also on the consumers because it is one thing to have the services available, but it is another thing to have the people to use them. So, on one hand, there is an initiative for the service providers to make their services available, but on the other hand, consumers need to take advantage of the services that are available. So, what we advocate for is stronger use cases for mobile money and for it to become central to our daily lives. Can I use mobile money to pay for transport? Can I use mobile money to pay for school fees? Can I use mobile money to make my purchases? So, it is these opportunities that can drive uptake on the side of the consumers, when they see a stronger need for it and he service providers as well when they see more people using it.

WEDNESDAY, SEPTEMBER 14, 2016, • T H I S D AY

BUSINESSWORLD

ANALYSIS

Mass Exit of Insurance Sector Directors The implementation of Corporate Governance Code by the National Insurance Commission, has resulted in mass exit of non -executive directors of insurance firms , writes Ebere Nwoji The insurance industry regulator, the National Insurance Commission, (NAICOM) precisely in April this year, made good its bid to commence implementation of the Code of Good Corporate Governance among insurance industry operators in Nigeria. The Corporate Governance Code was introduced by the commission since February, 2009 shortly after the melt down on global financial system but had not been strictly enforced due to reasons best known to the commission. But at the second edition of the bi-monthly insurers’ committee meeting held in Lagos, the commission alerted operators on its decision to commence the enforcement of the code. Corporate governance according to finance experts is the manner in which organisations, particularly limited liability companies are managed and the nature of accountability corporate managers are expected to render to resource owners. It is also defined as the manner in which companies are directed and controlled. It encompasses the means by which the board and senior management of a company are held accountable and responsible for their actions and includes corporate discipline, transparency, independence, accountability, responsibility, fairness and social responsibility.” It serves as strategic efforts of NAICOM to rebuild and sustain the waning confidence of stakeholders in insurance industry. Kari, said one of the main things the commission sets to achieve with the enforcement is to stop the trend in the industry in which the chairman of a company’s board appoints managing Director based on sentiments like biological ties or on friendship basis irrespective of whether he is qualified for the position or not. He said this was one of the causes of poor performance if many insurance firms in the past. Initially, the announcement of its enforcement by NAICOM seemed as joke to insurance industry operators until the commission began to demonstrate signs of effective take off of the principle with its calculated attempt and determination to ensure that insurance companies comply with the aspect of the code on retirement of insurance companies’ non -executive directors who have put in nine years of service in the board of their various firms. Enforcement of the code according to reports, saw the exit of about 260 non-executive directors of insurance companies this year. This will be followed by yet to be disclosed number of executive directors who will also be compelled to quit the various boards of insurance companies in 2017. This cuts across all the existing insurance and reinsurance firms in the country as THISDAY’s investigation has revealed that few insurance firms that were not affected by the exit of non - executive directors, will definitely be affected by the exit of their executive directors next year.

Kari

Those affected are non-executive directors who have sat on their companies’ boards for nine years and executive directors that have sat for ten years. The Commissioner for Insurance, Mohammed Kari, confirmed this during a courtesy visit to THISDAY Corporate Headquarters early this year, explaining that the commission took the action to enforce the regulations in the code of good corporate governance for the industry. Section 5.04 (vii) of the 2009 corporate governance code states that “non-executive directors shall not be re-nominated and appointed for more than three terms of three years each.” Also Mr. Oye Hassan Odukale, Publicity and communication Sub-committee Chairman of the Insurers’ Committee, briefing the media at the end of the second edition of the committee meeting in Lagos said the commission has intimated them with the plan to commence implementation and enforcement of the corporate governance code. Hassan-Odukale, who is also the Managing Director of Leadway Assurance Ltd, explained that

the code was introduced by the commission since 2009 but due to some reasons, the commission has not been too firm in its implementation. “We had old corporate governance code which was introduced by NAICOM in 2009, but for some reasons, the commission has not been too firm on it but we are told that from April 1, NAICOM is going to enforce it. There are some other codes like the one of last year but NAICOM has agreed that since the Financial Reporting Council (FRC) is coming up with a new code, it will just allow FRC code when it comes out to supersede the present code. So we are given up to April to comply with the 2009 corporate governance code,” he stated. On their part, insurance industry operators, have no choice than to comply with the code. Some did so grudgingly with emotional pains on the exit of the directors they cherished. Among insurance firms that have so far held their annual general meetings (AGMs) and whose non- executive board members were affected by the code, the following are their comments: SA Insurance Plc

whose new Chairman, Johnson Chukwuma, in his statement to shareholders at the 20th AGM of the company stated: “An industry development of significance in the current year 2016 is mandatory corporate governance change ,under NAICOM rules. The regulator has required that non -executive directors of insurance companies that have served up to the maximum length of nine years should vacate board membership. This requirement, led to the painful departure of our immediate past chairman Brigadier General Dominic Oneya (RTD) who occupied that position since December 2014 and has been SA Insurance director since 2005.” Also, Chairman, NEM Insurance Plc, Chief Adewale Teluwo, who was personally affected by the code, in his farewell message to chair holders at the 46th Annual General Meeting of the company held in Lagos stated: NAICOM’s code of corporate governance of 2008 which requires that the tenor of non- executive directors should not exceed nine years was implemented this year.

SA Insurance Gets BBB Rating Standard Alliance Insurance Plc, has been rated ‘BBB’ by Global Credit Rating, a South African-based rating body, in recognition of its consistent claims paying ability. The company, which recently secured its shareholders’ nod to merge with its life sister company, Standard Alliance Life Assurance Limited, for greater strength and superior bottom line performance was at its 2016 annual general meeting in Lagos, rated high by its shareholders for proper treatment of its investors. Passing a remark in its conclusive report released during the month of August, the rating body observed that

the general business underwriting company’s gross claims declined by 17 percent during the year to N887million with an improvement noted across most classes of business barring fire and marine line. It stated that while an 11 percent rise in net claims is anticipated during the year, the net incurred loss ratio is expected to contract to 21 percent in 2016 financial year based on the expected growth in premiums. While noting that the company was stable in its rating outlook, the rating body further observed that shareholders’ funds rose by 28 percent to N4.2bn at 2015

financial year end on the back of internal capital generation. It further stated that in conjunction with a substantial reduction in retained premium volumes, this led to an improvement in risk adjusted capitalisation with the ratio of shareholders’ funds to net earned premium improving to 172 percent in 2015 from 86 percent in 2014 financial year end. The report noted that the company’s statutory solvency regained compliance at 2015 financial year end with admissible asset coverage of liabilities, stating that “going forward, risk adjusted capital adequacy is expected to remain at an

adequate level.” While observing that the company’s focus remains on penetrating the retail market with management confirming new products which were in the offering to further drive the retail growth, the report stated that SA Insurance’s realised investment income rebounded in 2015 following the share of profit of an associate company during the year. According to the report, the insurer’s share of profit or loss has been included in the investment income calculation over the period. Total interest, rental and dividend income lowered

to N197million in 2015, underpinned by reductions in interest income. Overall, operating margin equated to 3 percent in 2015,” stating that “similarly, investment yield registered an improvement to 8 percent from a negative 6 percent. previously. The report further claimed that the underwriting company which was also rated BBB last year for its consistent claims administration recorded net profitability during year 2015 after three consecutive years of a net loss, observing that net profit after tax was aided by a write-back on impairment] on loans and receivables which had

previously been provided for. It further noted that the share of profit of an associate company (which bolstered investment income), coupled with a fair valuation gain during the year further supported the company’s return to profitability. The report also noted that African-Re and Continental Re continued to lead the company’s reinsurance programme for 2016 with each covering 40 percent of cession across treaties, adding that other participating reinsurers included WAICA Re (10percent), Nigeria Re (7 percent ) and NCA recovering the remaining 3 percent cession.

WEDNESDAY, SEPTEMBER 14, 2016, • T H I S D AY

BUSINESSWORLD

NEWS

Nigerians Urged to Look Inwards to Boost Economy

The Managing Director/Chief Executive Officer of Kebeth Dali, Ms. Akindele Adenike, has called for the patronage of Nigerianbased doctors, specialised in cosmetic medicine and allied services to boost the economy. Adenike said this in Lagos during the unveiling of the maiden edition of Belle Éclat Fair, an initiative of the company that brought cosmetic practitioners together, to showcase their skills. She pointed out that the idea

came to her after several years of consulting for medical and health spa and realised that there was a gap in the economy occasioned by capital flight, as Nigerians prefer going abroad to spend their money on medical services that can be rendered by local doctors. “It’s showcasing our local doctors. We have an initiative called ‘Patronise Our Local Doctors’ so that there can be more money in the medical

sector and so that people will stop taking the currently devalued naira abroad. We’ve found out that we have some very good doctors in Nigeria even better that some we find abroad. “So we’re showcasing the doctors on my platform. We’re just telling Nigerians that we’re ready to position ourselves as the aesthetic capital of West Africa,” Adenike said. “We just want to improve on the plastic surgery and aesthetic

medicine in Nigeria. We’ve got the training, we’ve got the experience and we have world class facilities for our operation. So we’re urgings Nigerians to leverage on the quality services of our professionals for a better treatment,” she added. On his part, the Divisional Head, Retail Banking, Fidelity Bank, Mr. Richard Madiebo, while speaking to on the bank’s partnership with Kebeth Dali, said the bank believes in the

success of its customers’ business. “Her products are also used by many of our staff. So when she told us that she was doing an unveiling today, we said we would like to be there, we would like to share her idea to her customers and also tell them that the services of Fidelity are available; our liability services, our asset services, people can put money and withdraw. So the essence of our being here really is to support our customer

in her business. “We know that Nigeria is getting very sophisticated so people take loans for different reasons. Some of which could even involve procedures for which this unveiling addresses. We’re not trying to put any kind of restriction on what we’re able to do. We’re coming first as bankers to Kebeth Dali, so we’re keeping an open mind and we believe we can achieve working with them,” he added.

Turkish Airlines World Golf Cup Arrives Lagos for $7,000,000 Prize Chinedu Eze Fast growing European carrier, Turkish Airline, which is making inroads into the Nigerian market, has announced that the 2016 Turkish Airlines World Golf Cup would take place at Ikoyi Golf Club in Lagos, Nigeria, on September 15 for $7, 000, 000 prize for the overall winner in an international golf contest. The airline said the 84th of 100 qualifiers for the global event, which is enjoying a growing reputation after three hugely successful previous series, would feature 100 players, all personally-invited guests of Turkish Airlines. After the contest in Lagos, the winner would progress to the Grand Final in Antalya, Turkey, this October, while there would also be memorable prizes for, the runner-up, third place, Best Gross and nearest-the-pin prizes for men and women. “We are proud to be hosting the latest 2016 Turkish Airlines World Golf Cup qualifier in Lagos. We are excited to be welcoming everyone to the world class facilities at Ikoyi Golf Club. We are sure the players will have a day to remember and wish them all the very best of luck,” Tarkan Ince,

General Manager for Turkish Airlines Lagos, said. Winners of the Grand Final progress to play in the 2016 Turkish Airlines Open pro-am, while all finalists are to enjoy an eight-night stay in an allinclusive hotel, two rounds of golf and VIP passes to the Turkish Airlines Open, the $7,000,000 European Tour event, from Thursday to Sunday. The event is backed by Global Sponsor the Financial Times, with Conte of Florence Official Clothing and Fashion Partner. Turkish Airlines, which was recently voted Best Airline in Europe for the fifth consecutive year, as well as World’s Best Business Class Airline Lounge and World’s Best Business Class Lounge Dining in 2015, launched the World Golf Cup in 2013. It featured 12 qualifying events and was won by China’s Han Liang. His prize for victory was partnering world number one and 14-time major champion Tiger Woods in the Turkish Airlines Open pro-am. 2015 winner Neill Bam from Johannesburg proved successful in the 2015 series and went on to partner Rory McIlroy, a once in a lifetime opportunity.

CSR: City FM Introduces Media Academy to Groom Talents Raheem Akingbolu To hone the skill of the upcoming media personalities, City FM, a private Radio Station based in Lagos has introduced a media academy, a vocational training programme and capacity development, to train young minds in the industry. The academy is the organisation’s Corporate Social Responsibility initiative. According to the Chief Executive Officer of the company, Adedoja Allen, the academy was set up because of influx of interns coming into the industry with the hope of becoming media personalities. She added that the first season of the training has taken off, which would enable the students to spend three weeks

in class and one week on radio programme. At the end of the programme, she said the organisation would give the best students job within the company and give the rest the option of internship with the company. She added that the company also gives an opportunity to disabled ones to be part of the training as part of ways giving back to the industry and society at large. She said: “The initiative is an opportunity to give back to the society. I would love to get involved in training young people to become radio personality, on-air presenters. I said steps to take were to set up City FM. And gladly, we are the number one radio station that would come out with this kind of initiative.

CONGRATULATIONS

L-R: A former Spokesman, Nigerian Stock Exchange (NSE), Mr. Sola Oni; his wife, Mrs. Funke Oni, and Chief Executive Officer, Network Capital Limited, Mr Oluropo Dada, at the induction ceremony of new stockbrokers in Lagos…recently.

Webroot Introduces Cloud-based Cybersecurity Solution Webroot, a new generation cloud-based cybersecurity solution has been introduced in Nigeria to protect computer system from hackers and phishers. Webroot is a new generation protection solution that gives users full control of their data and assets with maximum protection from hackers and phishers. One of Webroot’s key strengths as a cybersecurity provider has been its leadership in developing next generation approaches to prevent attacks, and a proven technology base that spans millions of devices. CEO of Ethnos IT Solutions Limited, a leading cyber security company based in Lagos, Nigeria, Mr, Peter Ejiofor, described Webroot as the solution against

hackers that use every guise to access people’s systems. “Computers in the real sense are designed to have little or no security. By default, most computer users have multiple services turned on, no firewall installed, and with haphazard or little patching, leaving organisation’s data susceptible to phishing; all these forces combined makes computers and the data contained in the system, vulnerable to hacking, as hackers can remotely scan and hack into literally millions of computers without the need for interaction by the end user, Ejiofor explained. He noted that to combat the threat, Original Equipment Manufacturers (OEMs) have worked tirelessly to build security into computers by

deploying firewalls enabled by default, reducing services, using advanced memory protection, standardised patching processes and other features. “To mitigate these attacks, the next generation of system users and technologist have come to embrace the idea of computing and securing data in the cloud, however, it is imperative to ask this question, how does your company use the cloud? Almost certainly it allows your employees to work more efficiently by enabling them to access email and vital documents wherever they are in the world. The salient question therefore is, are you taking advantage of the benefits of the cloud to protect your email servers, support data privacy and integrity, and protect your intellectual property

from cyber theft and phishing? If yes, what technology did you adopt? Is the technology adopted optimised to serve your needs?” Ejoifor asked. The company’s staff, DamilolaOluwatunmise further explained that Webroot is a Next-Generation Endpoint security with cloud-based threat intelligence services for mobile security, security of web gateway, IoT cybersecurity among others. “The cloud based security has become the present and future of securing email and protecting against malicious Web traffic; for managing user account, identification and accesses; for continuously monitoring threat activities and patching vulnerabilities across a geographically dispersed and mobile workforce,” Oluwatunmise said.

Mr. Chef Partners School to Promote Inclusive Quality Education Raheem Akingbolu Bayswater Industries Ltd, producers of the fast selling Mr. Chef seasoning cubes and powdered seasoning, have deepened partnership with Bridge International Academy (BIA), to provide quality education for the less privileged in the country. BIA is the world’s largest education innovation organisation using data-driven and technology-enabled platforms to serve over 700 million families

whose median income is less than N30,000 per month in countries around the world. At the just-ended 2015/2016 academic session, Mr. Chef awarded 54 scholarships to pupils who demonstrated exemplary academic performance in existing BIA public primary schools in Igbogbo-Ikorodu, Badagry, Igando, Ajangbadi and Ijegun, all in Lagos State. Nine pupils in each of the six schools received the awards. The partnership, which will extend into 2017, will see an

increase in the number of scholarships to 60 by July 2017 when the number of BIA schools is expected to increase to 20. It will also avail about 12,000 parents of pupils in the schools free samples of Bayswater products including the master brand, Mr. Chef and the latest product, Choco Love cocoa beverage drink, which was formulated to promote the sharing of family love. Managing Director of Bayswater Industries Ltd, MrPiyush Nair, who made these disclo-

sures in his keynote address at the Prize-Giving Ceremony of BIA, Igbogbo-Ikorodu said his company supports primary education because it is the most critical foundation for moulding young people who would emerge as leaders in the next two decades. “Success in the quest for excellence is not determined by age but by an ability to quickly key into visions of future greatness, especially from foundational levels,” Nair said, adding,

WEDNESDAY, SEPTEMBER 14, 2016, • T H I S D AY

BUSINESSWORLD

NEWS

NIA Chairman Highlights Factors Inimical to Growth of Insurance Sector Ebere Nwoji Amidst quest for rapid growth and expansion of the insurance sub-sector for meaningful contributions to the Gross Domestic Product, the Chairman, Nigeria Insurers Association ( NIA), Mr. Eddie Efekoha, has said that certain factors leading to poor performance of the national economy are inimical to the achievement of this desire. Efekoha, who made this observation at a recent insurance professional forum, held in Abeokuta, Ogun State,noted that the growth of a particular sector in any given economy is directly related to the performance of the economy of that country. He observed that in the case of Nigeria, shortly before the end of the former President Goodluck Jonathan’s administration, the Nigerian GDP was rebased and the country then was said to have the largest economy of over $500 billion. He however observed that with the current GDP of Nigeria put at $296 billion, by the Bloomberg, the country has lost its first position to become the second largest economy in Africa after two years at the top. He highlighted factors nega-

tively affecting the economy and inhibiting the expansion of the insurance industry in particular as terrorism, insecurity and kidnapping amongst other social maladies. According to him, with the Boko Haram terrorist group ravaging the North-East, the militants in the South-South vandalising oil and gas facilities, this has affected the economic growth thereby reducing national income, power generation and leading to budget deficit. He said the aggregation of all these has impacted the insurance sector adversely and has stunted its growth. He also said the devaluation of Naira and its effect on insurance stock price and capital base was another factor noting that the industry’s ability to underwrite is a function of its financial strength which in turn is a function of the prevailing economic realities. He matched the industry’s capital base in relation to its dollar equivalent between 2015 and 2016 financial year saying the weak Naira has reduced the industry’s ability to handle certain businesses. According to his statistics, in 2015, the N2billion minimum capital base for life under-

writing firms had its dollar equivalent as S10,050,251.26 whereas in 2016, it has come down to $6,451,612.90. Non life insurance minimum capital of N3 billion, in 2015 had its dollar equivalent as $15,075,376.88 whereas in 2016, it came down to $9,677,419.35. Composite insurance firms with N 5billion minimum capita in 2015, has its dollar equivalent as $25,125,628.14 , this drastically reduced to $16,129,032.26 dollar capital in 2016. While Reinsurance firms with N10billion minimum capital in 2015, has its dollar equivalent as $50,251,256.28 but came down to $32,255,064.52 in 2016. This obviously has put local underwriting firm at

disadvantaged position when it comes to underwriting dollar denominated accounts and other businesses that require foreign technical assistance. Efekoha, highlighted other disturbing issues in the economy as slump in the global price of crude oil and crude oil over-supply,scarcity of petroleum products,weakening of the country’s external reserves position, rationing of forex amongst eligible applicants, poverty/reduction in consumer purchasing power,inconsistent economic policies and volatile capital market among others. He said for insurance market in particular,technology would continue to be vital element of business growth and expansion, noting that the inability

of insurers to become digitally responsive and provide clients with quick, efficient and prompt services has in the past years made the industry to lag behind. He however said this challenge cannot be beyond the control of the industry, if only it can embrace technology to drive growth. Speaking on the impact of education and cultural beliefs on the industry’s growth, Efekoha, said that perception of the insuring populace is low due to cultural and educational knowledge.However, he observed that over times, there has been increased knowledge of insurance products and benefits which will drive change in buying pattern. He noted that the industry’s

expansion is only possible through awareness and patronage of insurance products. Other contemporary challenges which he observed to have been restricting business expansion of the industry include. Dearth of skill, as he observed that increase in premium flight can be attributed to lack of skill in the industry to underwrite special risks. · “This implies that capital may be adequate but the inability to professionally assess risk has resulted in many insurance companies placing aviation, oil and gas and other special risks in the foreign market. This can also be the reason for poor innovation in the industry”, he sated.

Fashola to Unveil Roadmap for Housing Devt Today Dele Ogbodo in Abuja The African Union for Housing Finance (AUHF), the Nigeria Mortgage Refinance Company (NRMC) and Organisers of the Nigeria’s Housing Exhibition, said the Minister of Power, Works and Housing, Mr. Babatunde Fashola, SAN, will today (Wednesday), present fresh government policy aimed at unveiling the road map for affordable housing delivery in the country. At a joint media briefing organised by the tripartite bodies in Abuja, on Monday, they stated that the Governor of Ogun State, Mr. Ibikunle Amosu, his counterparts from across the country and the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi are billed to attend the event. The Chairman of the Board of AUHF, who also doubles as the Managing Director of Tanzania Mortgage Company, Mr. Oscar Mgaye, said more than 23 countries and 170 private investors have indicated interest to attend the 32 Annual General Meeting of AUHF. He admitted that the conscious of housing development has not being raised to its proper level, adding that the meeting will address government policies aimed involving the private sector on housing development through PPP. The Managing Director, NMRC, Prof. Charles Inyagete, in a remark, said with the appropriate deployment of technology, the company is optimistic of delivery affordable

at the cost of N1.5 million. To address affordable housing challenge, he said NMRC is set to bring liquidity to the sector, adding that, that solution to housing delivery will be addressed in the 3 day conference. Inyagete said: “I tell you that there are lot of initiatives that are coming through that are intended primarily to address housing delivery bearing in mind that there is no society in the world that everyone own a house. “We think that we also need to look at it from a realistic perspective. We should should start off by owning a smaller house and then move onto the next. “We want to make it more mobile, the mobility of being able to buy a house and for us at NMRC, we are ready to make houses that are affordable as cheaper as N1.5 million, and we are hoping that technology will allow us to build houses at that price. At the moment the prices if houses in the country are high.” According to him, experts are expected to deliver papers on how the sector can cash in on the economic downturn to improve the economy using local raw materials. He said: “We need do not have to build with materials that are imported. We have used tanga stones turned into beautiful materials in other countries in building properties and people thought they were imported. We must look inward for raw materials to build.”

CAPACITY BUILDING

L- R: President Chartered Insurance Institute of Nigeria(CIIN) Isioma Chukwuma, Deputy president, CIIN, Funmi Babington Ashaye at the 2016 Insurance Professionals’ Forum held in Abeokuta, Ogun State... recently

Atlanta Airports Identified as World’s Busiest The Hartsfield Jackson Atlanta International Airport has been identified as the world’s busiest passenger airport for another year. More than 101 million passengers passed through the airport in 2015, which is an increase of 5.5 percent over 2014, according to Airports Council International (ACI)’s 2015 World Airport Traffic Report. The report, which was released Friday, credited the Atlanta airport’s location as a major connecting hub and port of entry into North America for its continued dominance. Atlanta is within a two-hour flight of 80 percent of the United States population of more than 300 million people, the report noted. According to CNN Busi-

ness Traveller, while Beijing has long nipped at the heels of the Atlanta airport, which has held the top spot for 18 years, the Chinese capital’s airport came in second place again with 89.9 million passengers (a 4.4 percent increase). CNN Business Traveller noted that the overall news is also good for the world’s airports because worldwide passenger traffic increased 6.4 percent in 2015 to almost 7.2 billion, with increases in all the world’s six regions: Asia-Pacific, Europe, North America, Latin America-Caribbean, Middle East and Africa. Worldwide cargo traffic, including mail, rose 2.6 percent. The world’s largest air cargo hub remains Hong Kong, China. The US city of Memphis, Tennessee, took the second spot, followed

by Shanghai, China. While geopolitical unrest, terrorism and physical capacity could become challenges to future growth, “history supports the long-run resiliency of the industry where connecting people, places, cultures and commerce is paramount in the shared mission of the aviation community,” said Angela Gittens, director general of ACI World. ACI’s figures and percentages from the annual report are based on data from more than 2,300 airports in 160 countries worldwide. According to the report, Dubai handled most international traffic in 2015. The international airport to watch is Dubai. The sixth busiest passenger airport in 2014, Dubai jumped into third position in

2015. Total passenger traffic grew by 10.7 percent. (Dubai International Airport is also the world’s busiest in terms of international passengers, ahead of London Heathrow) The second busiest US airport on the list is Chicago O’Hare, which moved from seventh to fourth position in 2015, thanks to growth of 9.8 percent. When it comes to aircraft movements, US airports continue to dominate. Atlanta overtook last year ’s leader, Chicago, with 882,497 total takeoffs and landings. Chicago had 875,136. Coming in at third, DallasFort Worth saw 681,247 takeoffs and landings in 2015, followed by Los Angeles with 655,564, and Beijing with 590,169.

WEDNESDAY, SEPTEMBER 14, 2016, • T H I S D AY

BUSINESSWORLD

ANALYSIS

Economic Recession: Paradigm Shift As a Remedial Mechanism Carl Umegboro reasons that the government should put actions in place to suspend its export of crude and work towards a diversion to export of crude finished and by-products

President Buhari

Nigeria’s economic downturn is no longer strange with many economic activities grounded and unprecedented job losses in banks, multinationals and other key sectors. To combat the predicament, the federal government since inception of President Muhammadu Buhari’s administration prioritized anti-corruption and diversification of the economy to agriculture and mines. No doubt, the actions are long overdue; however, a paradigm shift from export of crude oil to that of its by-products and finished products as preliminary policy against the anomaly is indomitable. The reason is not far-fetched; the global crash in the price of crude oil did not affect the prices of its by-products and finished products. From OPEC’s chart on Thursday 8th September, 2016, daily basket price of crude stood at $44.61 a barrel against a benchmark grudgingly proposed by the Nigerian government. Deductively, since the price of crude oil, the nation’s major source of revenue crashed and remains on decline, meanwhile the country is endowed with crude oil in huge magnitude, strategically, the focus should have been to divert to export of its by-products and finished products like petroleum, kerosene, naphtha, gasoline, diesel, asphalt base, heating oil and liquefied petroleum gas (LPG) by setting up refineries and processing-plants which apart from keeping the economy buoyant will overwhelmingly boost employment rather than the insufferable downsizing in all sectors and even absolute winding up of multinationals who couldn’t cope with the adverse condition. Government’s directive mandating banks to shun retrenchment of workers amidst economic crisis but overlooked cutting down expenditures especially remunerations of the legislators and executive excesses, particularly Presidential-Air-Fleets is awkward. Besides, employers only maintain a workforce vis-à-vis resources at its disposal. Imperatively, the colossal element;

imbalance of trade has not been measured. To continue to export crude-oil which the country solely depends on at low prices only to import on high demand, its finished and by-products at exorbitant prices is illogical and a gaffe, and naturally will lead to economic depression in any country, even if a developed nation. Interestingly, despite the global crash on crude, all its by-products and finished products have remained vendible with stable rise in prices. This ought to invoke a state of emergency on oil sector to fix the existing refineries and set up new ones across the nation, and above all, a comparative advantage since the country has crude oil; the major raw materials it needed. The present hullabaloo in the midst of plenty is uncalled for. Admitted, the previous administrations failed woefully in taking sensible actions in the midst of plenty, nevertheless, the change mantra should imply the present administration taking the bull by the horns by doing things rightly and differently for desirable results. On meeting the refineries mostly in coma and inadequate, the rightful action prior to diversification or perhaps alongside ought to be diverting to export of crude oil-finished and by-products. Conclusively, government should straightaway put actions in place to suspend its export of crude and work towards a diversion to export of crude finished and by-products. If not, the continued exportation of crude at this agonizing state is wasteful and devoid of economic know-how and foresightedness. The present challenges should generate sustainable opportunities instead of more calamities or the blame mantra going on. To solely diversify the economy to agriculture and others but persistent export of our crude oil at pitiable prices is not far from what the previous administrations did, hence untenable, inefficient and may remain counter-productive. Umegboro, Public Affairs Analyst, writer is the publisher, Pinnacle InfoGallery.

T H I S D AY • WEDNESDAY, SEPTEMBER 14, 2016

EDUCATION Against All Odds, Fasoro Enters Redeemer’s Varsity’s Record Books Once referred to as a dullard, bullied, despised by classmates and even exploited by friends, Mr. Opeoluwa Fasoro, 22, of the Department of Microbiology, Redeemers University, Osun State did not allow these to deter him, but with hard work and God in his life, he recently emerged the overall best graduating student of the institution with a Cumulative Grade Point Average of 4.97. Funmi Ogundare reports When Mr. Opeoluwa Adewale Fasoro was called to the podium to receive his prize for emerging the overall best graduating student with a Cumulative Grade Point Average (CGPA) of 4.97, the highest Redeemers University has ever produced, he got a thunderous applause from guests and students present at the eighth convocation ceremony of the institution held at the auditorium. He was among the 25 graduating students that made first class out of a total of 619 graduands tagged the ‘Chosen Generation Set’ that the institution produced at the end of the 2015/2016 academic session. For his feat, he secured automatic employment at the institution and also got a cash prize of about N250,000 as the recipient of the visitor’s and vice-chancellor’s prizes for the best graduating student with the highest CGPA; best graduating student in the College of Natural Sciences; the best graduating student in Microbiology programme, among others. Fasoro expressed delight about his success saying, “I feel humbled. This is a miracle; I wasn’t the best of brains while growing up but I have come to realise that with God in a person’s life, the difference will be clear. For me to graduate with such CGPA the best so far in the school, it is indeed the power of God.” Recounting his experiences while growing up, he said during his primary school days, his classmates used to make fun of him; he was bullied and called a dullard, but all that changed when he was admitted into a Christian secondary school and had a life-changing encounter with God which set him on a new course in life. He said the encounter was further strengthened when he was admitted into Redeemers University, adding that he worked hard to achieve the feat. On the challenges he encountered during the course of his study, he said: “I actually applied to the university to study Applied Biology and Genetics, but by the time I got to 200 level, the course was yet to be accredited, so they had to merge us with Microbiology, I particularly didn’t want to study Microbiology because the person that taught me in secondary school studied Gynecology so I wanted to be better than him and even impress him, but that really discouraged me. “However, something happened after then during the 100 days of fasting and praying of the Redeemed Christian Church of God. I heard the voice of God that told me to check a particular scripture in the bible in Isaiah 55 verse 8 which says: ‘My thoughts are not your thoughts, neither your ways are my ways’, that was a major point in my life where I felt discouraged. I would have given up.” He described his experience as a potpourri of emotions and mixed feelings, saying that God saw him through. “For every second I spent in the university, I have always seen the hand of God in my life and also in my academics. My target was to get 5.0 from the point I entered the university and I set my mind to it.” Fasoro, whose father is a chartered accountant and mother a facilitator/trainer, advised his fellow graduands not to be discouraged by their background, saying, “I encourage you today no matter the class of degree you are coming out with to put aside the report of men. Don’t allow your background to pin you down. Do not be limited by what you have or do not have. Those three digit numbers used to classify students are not enough to describe your true potential. “I encourage you to put your past behind you and make up your mind to succeed in life, look to God and to his word as your source.

Fasoro

He has declared that He knows the thought He has towards us that they are thoughts of good and not of evil, to give us an expected end.” The ceremony also witnessed the appointment of a new Chancellor, General Theophilus Danjuma and the conferment of honorary degree on him, as well as Dr. George Valencia Samson for his healthcare delivery to humanity at the global level through his organisation, the World Medical Relief. In his remarks, the Vice-Chancellor, Prof. Debo Adeyewa, appealed to the government to design a policy that will support private universities through the provision of incentives and access to funds that would aid the acceleration of research and the development of the education sector and the nation in general. He said the move would discourage educational tourism that has helped institutions overseas to flourish with billions of naira frittered away each year at the expense of burgeoning home institutions He congratulated the honorees, saying that the Danjuma Foundation has passionately supported the poverty alleviation, education and medical aid initiatives across the country and that the World Medical Relief has been a blessing to the institution in particular. To the graduands he said, “we heartily congratulate you and your parents on the successful completion of your programme in spite of the challenges you might have faced. As usual some of your colleagues could not complete the programme with you because they were found wanting in either learning or character. The training both formal and

informal that you have received is to enable you fullfil God’s purpose for your lives and to be a blessing to your generation.” The General Overseer of the Redeemed Christian Church of God, who is the visitor to the institution, Pastor Enoch Adeboye, congratulated the graduating class, saying that the set has been particularly chosen to run a truly dynamic and victorious race here and beyond. Adeboye, who was represented by the VicePresident and Chairman, Board of Trustees, Prof. Yemi Osinbajo, advised youths to learn to be versatile and technology-savvy by understanding its uses in their areas of endeavour. “You have to learn to multi-task which is now the order of the day. You have to follow the trends in the stock market and understand how money works,” he said, while recalling the visit of the chief executive officer of Facebook to the country, adding, “many are too lazy these days, talent comes from diligence.” Delivering the convocation lecture titled, ‘Nation Building and Nigeria’s Economic Challenges’, the Chairman, African Capital Alliance, Mr. Richard Kramer, appealed to the Buhari administration and future governments to build quality infrastructure, education, healthcare and other enablers which meet the needs of all sectors of the economy. He added that it should also evolve government’s role away from operating and controlling the economy to becoming an enabler which motivates and guides the private sector to build a strong responsible economy. “As an expatriate, it is not in my place to extensively define the economic end result for

Nigeria. Suffice it to say, I have contributed in the past to Nigerian Economic Summit Group activities, the vision 2010 project, and many other similar projects. Patriotic well-meaning Nigerians have done the major work and have gone beyond self-interest to focus on the national interest. The Buhari government should continue this nation building process and involve Nigerians from all walks of life in this type of endeavor.” To the graduands, Kramer said, “your challenge will be to anticipate the new Nigeria you will live in and prepare your future accordingly. The answers will need continuous study and you must anticipate what Nigeria will look like in the future. Your personal interests then need to be linked to Nigeria’s future opportunities. Think hard about the future and make well informed choices now.” In his inaugural address, Danjuma thanked the entire management of the institution who contributed to its success story since its relocation to the permanent site. He described success as a journey which is like a building project where everyone has a role to play. “God in his infinite mercies has ordained that we are given critical responsibilities in this decisive period in our nation to make meaningful contributions that would unleash the capacity of our youths for the fulfillment of their great destinies.” He said his desire has always been to contribute his quota towards worthy assignments, adding that he accepted the appointment as the chancellor of the institution because of his personal conviction to continue to serve at different levels and contribute to the development of the society.

T H I S D AY • WEDNESDAY, SEPTEMBER 14, 2016

EDUCATION

ExxonMobil, Partners Count Gains of N2bn Investment in Education

Uchechukwu Nnaike

One of ExxonMobil’s subsidiaries, Esso Exploration and Production Nigeria Limited (EEPNL), in production sharing contract with the Nigerian National Petroleum Corporation (NNPC) and its co-venturers on the Erha North Phase II Project, have invested over N2 billion to support education in Nigeria through the Community Assistance Programme (CAPS). The programme, which is ongoing in 17 states and the Federal Capital Territory, Abuja, involves several initiatives aimed at supporting education at various levels, especially in the area of Science, Technology, Engineering and Mathematics (STEM).Key among these are the 12 e-learning centres donated to schools across the country to boost e-learning and ICT knowledge, particularly at the grassroots with most of the selected schools located in economically challenged neighborhoods and rural communities. While three e-learning centres were donated under the CAPS for the EPC III phase of the programme, nine e-learning facilities built under the EPC I phase of the project were recently donated to schools in Rivers, Osun and Anambra States in furtherance of the company’s quest to impart computing and e-literacy skills in children early in life to prepare them for today’s competitive information technology-driven world. According to the company, early exposure of children to ICT places them on the right platform to compete with their peers anywhere in the world and its importance cannot be over-emphasised. The nine schools that benefitted from the recent donation of e-learning centres are: St. John’s Grammar School, Ile-Ife;

Ife Anglican Grammar School, Ile-Ife; Olode Grammar School, Olode; Anekwe Memorial Primary School, Abatete; Ado Girls Secondary School, Onitsha; All Saints Primary School, Onitsha; Onne Community Secondary School, Onne; Kalabari National College, Buguma; and Community Primary School, Egendem. Each e-learning centre is equipped with 21 desktop computers, Electronic Learning Management System with audio-visuals across a wide range of topics for pre-tertiary education, three-year internet service support and renewable power via inverter (24-hour back-up power). In addition, each of the centre’s location was renovated, while the school teachers were given extensive train-the-trainer instruction on information technology to enable them successfully impart knowledge in their pupils. The centres are based on the latest ICT infrastructure and curriculum for children, including coding for kids, experiential learning modules, 30 educational software and other e-learning aids. ExxonMobil and its partners on the project had earlier in 2015, donated e-learning facilities to three primary schools in Lagos: Awoyaya Primary School, Victoria Island; Ansar-Ur-Deen Primary School, Ebute Metta; and Obalende Primary School, Ikoyi, under the EPC III phase of the Erha North Phase II CAPS. By locating the e-learning centres in schools in rural communities and economicallychallenged neighborhoods, ExxonMobil and its partners aim to help children in such communities to compete on an equal footing with their more privileged counterparts and empower them to contribute meaningfully to the Nigerian economy in due course. The company also sponsored

Abia Moves to Implement ABSU’s Multi-campus Status Emmanuel Ugwu inUmuahia After over 30 years of its establishment as a multi-campus tertiary institution, the Abia State University, Uturu (ABSU) is now to operate on three campuses located in each of the three senatorial zones of the state. The Commissioner for Information and Strategy, Mr. Bonnie Iwuoha, said the State Executive Council gave the directive for the immediate implementation of the multi-campus status of the institution. To this end, he said the ABSU management has been directed to relocate the Faculty of Law and Faculty of Business Administration to Umuahia, the state capital immediately. The two faculties would form the second campus in Abia Central Zone. Iwuoha said the Faculty of Engineering would be moved to the commercial city of Aba

when the facilities are ready to form the third campus for Abia South Zone. The university has been operating on its main campus at Uturu in Abia North and has witnessed massive development over the years, including the huge law faculty complex which students, academic and non-academic staff would now move to a new environment in the capital city. Meanwhile the state government has said its free school meal programme launched in June has so far recorded “a huge success thereby giving government the encouragement to expand the programme, which implementation is presently limited to the pilot schools.” The commissioner for information said the popularity of the programme has led to increased enrolment in the pilot schools across the three senatorial zones.

a back-to-school programme under the EPC I CAPS through which primary school pupils in 14 states and Abuja were given school bags, exercise books, writing materials and other items to facilitate their learning in school. The programme targeted schools for children of low income earners and its beneficiaries included children in Internally Displaced Persons (IDP) Camps in some states in the north who were delighted when presented with their back-to-school items in their various locations. The back-to-school programme was meant to encourage the children in their educational pursuits by providing them with basic items needed at the primary level and by ensuring that they do not lose interest in education due to lack of those items. ExxonMobil and its partners also donated 22 science library

modules to secondary schools in various states, as part of their commitment to supporting STEM study at the secondary level in Nigeria. Each module contains 250 books on a wide range of science-based topics with the aim of improving students’ performance in science-based disciplines and encouraging them to eventually pursue STEM-related professional careers. Capacity building was also another area of educational social investment made by the company. Under the EPC II phase of the CAPS, ExxonMobil and its production partners invested $6 million (N1.8 billion) in training 132 Nigerian youths in various areas of technical operations for the oil and gas industry, including management, engineering, procurement, fabrication/assembly, testing, offshore installation and precommissioning. The training was structured

to enhance the acquisition of relevant theoretical knowledge and the development of competency through project exposure and experience in all specific technical disciplines thereby equipping them with the requisite skills to help them gain employment in the oil and gas industry. The training was for a total of 143,308 man hours and 69 of the 132 trainees were offered permanent employment in the Nigerian oil and gas industry by companies in the EPC II Consortium, attesting to the quality of the training received during the programme. The second aspect of the capacity building training, under the EPC I phase of the CAPS, was focussed on entrepreneurship and skills acquisition in areas like catering/bakery operations, fashion design, animal husbandry, fishery and poultry operations. The projects were well

received by the benefitting communities. The Anambra State Governor, Chief Willie Obiano, who was represented at the closing ceremony of the capacity building programme for the EPC I CAPS in Abatete, by the Commissioner of Science and Technology, Dr. Chinedu Emeka, thanked ExxonMobil and its partners for their social investment in the state through the programme, urging the youths trained to utilize the skills gained by building successful businesses and training other youths. The Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, during a courtesy call by ExxonMobil prior to the project inauguration ceremony in Ile-Ife, thanked ExxonMobil and its partners for donating the projects to the Ife community and urged other corporate organisations to emulate such gesture for the overall improvement of the society.

One of the science library modules of 250 books each donated to 22 secondary schools across Nigeria through the Community Assistance Programme

AAPS Seeks to Promote Physiology Education, Scientific Training Peace Obi Organisers of the seventh international congress of the African Association of Physiological Sciences and the 36th PSN scientific conference have said the congress which attracted experts around the world would among other benefits to the country promote physiological education, scientific training and research. According to the Chairman, Local Organising Committee, Prof. Ibiyemi Olatunji-Bello, the knowledge and experience shared at the congress, which was also attended by over 50 students, would improve students’ knowledge, their learning ability as well as the lecture delivery by the lecturers. “That is why we had a discussion session on developing curriculum in Applied Physiology. “There was a special session,

a workshop on teaching physiology and then to address the areas of research to expose our students and junior colleagues to scientific research by bringing in international experts who will give us their wealth of knowledge.” Olatunji-Bello said experts from countries like US, Canada and Australia also facilitated a train the trainers’ workshop. “They will train some of us on the way they expect us to teach physiology so that we will move with time to address the needs of the academia as well as research.” Reflecting on the conference theme, ‘Physiology and Biotechnology’, the President, International Union of Physiological Sciences, Prof. Denis Noble, said all countries, both rich and poor depend on the advances in technology and science to bring people out of

poverty, to raise the standard of living and to improve healthcare. “What this conference will do is to bring together some very distinguished people around the world to very important people from Nigeria and your young scientists to help create that process by which you have improvement in social life, improvement in standards of living, and improvement in healthcare. All of these things flow from the development of science and technology.” In his remarks, the Vice-Chancellor, Lagos State University, Prof. Olanrewaju Fagbohun, said the coming together of the experts would add value to the country. “We are going to look at issues that are arising that are contemporary, we are going to look at challenges facing not just Nigeria but Africa and proffer solutions

to these challenges. At the end of the day, they will come up with recommendations that will serve very effectively for policy makers. They will come up with recommendations that private sectors can leverage on in terms of pushing the frontiers of innovation and creativity. Fagbohun added: “They are looking at how to create a hub where researchers can go and it will be an online free access for them where they can go and get materials, where it will be made clear to them what technologies and funding opportunities are available. “All of these we are going to get as a result of being able to leverage these relationship because it is going to allow for cross-fertilization of ideas. And in the course of that they are going to leverage on one another in terms of the synergies of all the respective participants.”

T H I S D AY • WEDNESDAY, SEPTEMBER 14, 2016

EDUCATION

Ogun Sets New Cowbellpedia Record, Gets Four Semi-final Slots Uchechukwu Nnaike Ogun State has set a record at the ongoing 2016 Cowbellpedia Mathematics Television Quiz show as it produced an all-female four semi-finalists. In the junior category, Oluwafunke Alabi of Scholars Universal Secondary School, Ota and Juliet Ekoko of The Ambassador College, Ota moved to the semi-final stage after the first and second preliminary rounds. The duo competed against Favour Duke-Umanah of Deeper Life High School, Apabuyo, Calabar, Cross River State; Collins Iloabuchi of Dority International Secondary School, Aba, Abia State; Al-Ameen Abdulganiyu of Federal Government College, Ogbomoso, Oyo State; and Ayibatari Ibara of Belary Schools, Yenegoa, Bayelsa State. Ekoko and Alabi scored 98 per cent and 99 per cent respectively in the qualifying

written examination in March 2016 and were among the top 20 candidates. In the senior category, Hasanah Adeyanju of Ota Total Academy joined Chimaka Okey-Ihedi of The Ambassador College, Ota to proceed to the semi-final stage to crown the glory for Ogun State in the seventh preliminary group contest. They competed against Victor Osondu of College of Immaculate Conception, Enugu State; Olamide Ikuomola of Greater Tomorrow International College, ArikigiAkoko, Ondo State; Timothy Adedipe of Shepherd International College, Ado Ekiti, Ekiti State; and Simeon Ante of Joy International College, Kaduna State. In the qualifying written examination, Adeyanju scored 97 per cent, while OkeyIhedi scored 96 per cent to qualify as top 20 candidates. The soft spoken Adeyanju expressed confidence about her chances in the competition and hoped that all things

would work well for her. “I am well prepared for this. I also believe I am good enough to win because I am good enough to beat anybody.” Okey-Ihedi and Ekoko were also confident, saying that with the semifinal tickets in their kitty, nothing else can stop them from winning the ultimate prize. The star prize for this year’s edition is N1 million and an all-expenses paid educational excursion outside the country. The teacher of the winning students will receive N400,000. The programme is aired on AIT Network on Saturday, 7pm; TVC Lagos, Saturday, 8pm; NTA Ibadan, Saturday, 9:30am; NTA Kano, Saturday, 2pm; CRBC Calabar, Saturday 7pm; NTA Onitsha, Sunday, 5pm; STV Jos, Sunday, 5pm. It can also be viewed on DSTV Channel 154 on Saturday, 9pm.

Mosquito Nets are a Must for Nigeria ...The Republic of Congo and all of the sub-Saharan Africa. When the female anopheles mosquito bites you, it does so to collect some of your blood, which is critical for its own survival. Mosquitoes are “vampires”! It’s the way they are wired - they need your blood to live! Unfortunately though as a mosquito bites you, it leaves behind, in the bloodied puncture it’s made in your skin, plasmodium parasites which multiply in you, leave you infected with the deadly parasites, cause you malaria as well as a host of associated ailments. MALARIA CAN KILL WITHIN 24 HOURS OF SYMPTOM ONSET (MMV 2016) According to the World Health Organisation, in 2015, 88 per cent of the global malaria cases, occurred in subSaharan Africa only. Sadly, 90 per cent of deaths from malaria, worldwide, also occurred in this region (WHO Factsheet updated 2016). MMV - Medicines for Malaria Venture (online 2016), backs up these figures. They reveal that 214 million new cases of malaria were recorded in 2015 and 88 per cent of them occurred in Africa. Furthermore, they continue that globally in 2015, there were 438,000 malaria deaths of which 90 per cent happened in Africa. Interestingly but sadly, Nigeria and Republic of Congo account for about 35 per cent of the global estimation of deaths from malaria in 2015. African children continue to heavily shoulder the burden of malaria. In 2015, over 300,000 children under five years old globally, died of Malaria. Of these deaths, 292,000 occurred in Africa. WHAT MUST WE DO? The World Health Organisation advises that “vector control is the main way to prevent and reduce malaria transmission.” One way to do this is to sleep under insecticide-treated mosquito nets. LLINs (Long-Lasting Insecticidal Nets) according to WHO are the most effective nets to use. Omoru writes from the UK

L-R: The presiding Bishop of The Redeemed Evangelical Mission (TREM), Dr. Mike Okonkwo, 1st prize winner of the 13th edition of Mike Okonkwo National Essay competition, Miss. Fadilah Saliu-Ahmed, 2nd prize winner, Miss Adebayo Barakat, 3rd prize winner, Miss. Adeoye Wuraola and Guest Speaker, Mr. Frank Nweke II during the 17th Bishop Mike Okonkwo annual lecture and presentation of prizes to the essay competition winners in Lagos... recently

NTIC Commends Nigerian Youths for Excelling in Academic Contests The Deputy Managing Director (Academics) at the Nigerian Turkish International Colleges (NTIC), Abuja, Mr. Sabri Unal, has commended Nigerian youths for excelling in all areas of scientific study and putting the country in the top league among nations with the ongoing academic competitions. Unal told journalists recently after his school’s participation in series of scientific Olympiad competitions in Nigeria and abroad that with good guidance and the right opportunity, Nigeria can produce future equivalents of Facebook’s

Mark Zuckerberg, Bill Gates and others. While his school has won 45 gold, 50 silver and 71 bronze international academic medals, he said its experience in organisin the International Science Olympiad (ISO) confirms the capacity of Nigerian youths to excel internationally. “NTIC is the pioneer organiser of the ISO, an international competition in science subjects of Mathematics, Physics, Chemistry, Computer and Biology, with more than 20 participating countries around the world, including Nigeria, Romania,

the Netherlands, Argentina, Colombia, Ivory Coast, Senegal, South Africa, Turkey, Azerbaijan, Kenya, Bosnia and Herzegovina and the USA. “We have excelled at competitions such as the Informatrix International Computer Project Olympiad, International Art Competition, International Mathematical Olympiad, Pan African Mathematics Olympiad, International Science and Environmental Project ccompetitions, among others.” Unal said his school provides opportunity for 30,000 students to compete for 30 scholarship

slots annually while its ‘Cabinet System’ of classroom setting facilitates students’ concentration in dedicated classes for each subject. “NTIC has an innovative, challenging curriculum, designed to nurture each child’s potential. We take pride in being honoured as the top school in science and arts in Nigeria by the National Mathematical Centre. While academic pursuit is the main priority for us, NTIC is by no means all work and no play. As well as activities being offered, we do arrange excursion to places of attraction in USA, UK, Turkey, among others.”

World Bank, NOUN not Awarding Scholarship to Indigent Students, Says VC Rebecca Ejifoma The National Open University of Nigeria (NOUN) and the World Bank have stated that they are not awarding scholarship to indigent or any other category of students. The Vice-Chancellor of NOUN, Prof. Abdalla Adamu said the clarification became necessary in

view of the misunderstanding in some quarters that the bank will be awarding scholarships directly to people who wish to acquire tertiary education through the university. Adamu explained that if NOUN is seeking sponsorship for the less privileged students, such as internally displaced persons, women and indigent

youths, it would first sell the idea to the states. “If a state government buys into the concept, it will then approach the World Bank indicating its interest. The bank will evaluate the request and then, if it is satisfied, provide the funds to NOUN for the sponsorship of students from the state, and only if the World

Bank is satisfied that there will be equity and transparency in the selection process. “The World Bank and NOUN are therefore not going to award scholarship to anybody. Neither will the bank provide any money for the individual states directly for this purpose. The bank is only a facilitator.”

NLFT Donates Sports Equipment to 40 Public Schools in Bauchi Segun Awofadeji in Bauchi The National Lottery Trust Fund (NLFT) has donated sports equipment to 40 public primary schools in Bauchi State as part of its commitment towards promoting grassroots sports development in the country. The Vice-President Yemi Osinbajo had officially kicked off the distribution of sports equipment to 2,000 public schools nationwide in Abuja on May 20, 2016. Presenting the equipment to the 40 benefitting schools, the Executive Secretary/CEO of NLTF, Habu Ahmed Gumel, said the intervention programme seeks not only to promote grassroots sports development nationwide but also in line with the federal government’s change agenda of transforming the sports sector to enviable heights and in line with best practices in sports. “We will ensure that government’s objectives to promote grassroots sports development through the application of statutory remittances from lottery proceeds remain sustainable and we will continue to channel resources to key government projects and programmes that will bring succour to ordinary Nigerians. “This intervention programme seeks to enhance our capacity to grow and expand the nation’s talent base by securing the interest and involvement of our children

of primary school age in sporting activities.” Gumel added: “We intend to distribute sports equipment to about 2,000 public primary schools selected nationwide to cover the six geo-political zones and the programme is expected to improve our future performance in sports at all levels by harnessing the potential of our young talents and nurturing their transition to world class athletes, sportsmen and women.” He warned “lottery operators and licensees and business promoters that engage in any form of promotional lottery to keep to their obligations of remitting lottery proceeds to the trust fund, as government will no longer tolerate sharp practices that undermine the growth of lottery good causes in the country.” The executive secretary also urged stakeholders to continue to work with the NLTF to raise awareness of the value of lottery funding to modern life and its transformational legacy to the nation. In his remarks, the Secretary to the Government of the Federation (SGF), Babachir David Lawal, said the directive of President Muhammadu Buhari that the sporting items be distributed across the country shows the preparedness of the government to make a positive impact on every sector of national life.

T H I S D AY • WEDNESDAY, SEPTEMBER 14, 2016

EDUCATION

‘More Students’ Involvement in Science will Boost Technology in Nigeria’ Funmi Ogundare A Professor of Physics and the Head, Department of Physics, Lagos State University (LASU), Emmanuel Somoye, has stressed the need to make physics compulsory for students to enable them get involved in things that will make the country witness technological breakthrough. Somoye, who made this known recently while delivering the 54th inaugural lecture of the institution titled ‘Variability

of the Ionosphere as found in Life’, said it would enable them to monitor the danger that electro-magnetic radiation can pose to mankind. “There should be awareness on science because it has a lot of benefits. The danger that electro-magnetic radiation can pose to mankind may be as a result of failure of the electricity grid, failure of the accuracy of GPS and many others. Even in the aviation industry, the activity of the sun especially space weather affects some

flights.” He recalled that in 2011, the Delta Airline of USA had to re-route its flight because of space weather activity, adding that it is important to research into the activity of the sun as its affects the atmosphere. The don, who also reacted to the falling standard of education, argued that many schools get involved in examination malpractices, saying that any school caught in the act should be closed down to serve as a deterrent to others.

“A lot of teachers and parents encourage their children to cheat in exam halls and this does not augur well for the country. The government should put measures in place by introducing stiffer penalty for schools that are caught. For instance, I know that WAEC only penalises schools that get involved in it for about a year or two, but eventually, it will bring them back. I would have thought that such a school should be blacklisted forever to serve as deterrent to other

schools because this is a major problem that we have in our education sector. “No shortcut can help anybody in life that is what parents must let their children know at the family level. It is better for them to do it right so that they can be proud of the achievement. What pride does a child have if he gains admission through cheating?” For institutions that have Internally Generated Revenue (IGR), Somoye said

each department should be saddled with the responsibility of bringing projects that will generate revenue, rather than doing things that run contrary to the laws. “There are legitimate means of generating revenue. For instance, in the physics department, we fabricate equipment for students to use. There are so many things that can be done to generate revenue by legitimate means not by doing runs or things that are contrary to the law.”

Firm Undertakes Free Deworming ICPC Commends Salem Varsity in Schools for Upholding Due Process As part of its contribution to the society through one of its organisations, Pretty Healthcare Limited, a preventive healthcare organisation has concluded plans to take its free deworming campaign to more schools in Lagos and other parts of the country. Now in its second phase, the campaign tagged ‘The Kill Worm Project’ is targeting 10,000 school children and is billed to take-off upon resumption of schools this month. The Executive Director in charge of school health programme, Dr. Deola Talabi, said the first phase of the project was executed before schools went on the long vacation, adding that schools in Lagos and Ogun States benefitted. They include; Suru Primary School, Ajegunle; Magodo Primary School; Bethlehem Girls College, FESTAC Town; Federal Government Girls College, Sagamu; Maryland Comprehensive Secondary

School; Our Lady of Apostles, Yaba; St. Finbarr’s College, Yaba; Louisville, Itele, among others. She said her organisation understands the danger that worm poses to the well-being of children and their academics, hence the importance of regular deworming. “As an organisation that specialises in screening and vaccination of deadly but preventable diseases, it believes that prevention is the best way to stay strong and healthy as against waiting to fall ill and then proceeding to curative health care. “This is the reason we decided to embark on the deworming exercise because our research has shown that many parents do not know how dangerous worms are to their children’s well-being. They seldom deworm or do not even deworm their children.” Talabi stated that the project is designed to give back to the society in the organisation’s little way by helping students in

public and private schools to get rid of worms that could interfere with their academics and overall well-being. “We administer a broad spectrum anti-worm to the students orally to deal with any kind of worms. So far, it has been an amazing experience for our team and the project has been worth it because we have been receiving amazing results.” Recalling the success of the first phase of the project, she said there were cases where some students expelled worms a day or two after being dewormed, sometimes through the mouth. “This shows how badly worms have been comfortably habiting their systems until they were disturbed to leave their comfort zone through the anti-worm administration,” she said, adding that worms are dangerous and should not be allowed to take comfort zones in the children’s bodies.

NSE Unveils 2016 Essay Contest for Secondary School Students Peace Obi The Nigerian Stock Exchange (NSE) has announced the commencement of its 2016 essay competition for students in senior secondary schools across the country. It said the topic of this year’s edition is ‘What is the Biggest Obstacle to Saving and Investing Money and how can The Nigerian Stock Exchange Help’. It said interested participants can enter the competition which opened on September 1 and will close on October 14 by submitting their typewritten entries of not more than 1,000 words to essay@nse.com.ng. An online submission form is also available on www.nse.com. ng and the Nigerian Stock Exchange’s Facebook page. This year’s competition which is sponsored by Access Bank, Rand Merchant Bank, and Dangote Foundation, will see the top three winners getting equity investments, university scholarship funds and personal laptops/tablets at the awards

ceremony in November 2016. They will also be honoured with a closing gong ceremony. Their schools will also be presented with trophies, desktop computers and printers. According to the Head, Corporate Services Division, NSE, Mr. Bola Adeeko, improving financial literacy is important to the future of Nigeria. “Through the NSE essay competition, we are promoting financial literacy among young Nigerians by encouraging them to learn how good financial decisions can better their lives now and in the future, and ultimately grow the economy. “The competition serves as an essential platform to get the perspectives of our young ones on key challenges relating to financial literacy and inclusion in Nigeria.” Since it began in 2000, he said the competition has inspired over 20,000 young people in over 2,500 secondary schools across Nigeria to showcase what they have learnt about the financial and capital markets.

“It provides an important opportunity for youths to engage in issues of importance to the Nigerian economy.” The Head of Corporate Communications, Mr. Olumide Orojimi said, “at NSE, we are committed to helping people understand how to manage their financial resources. We take pride in investing in the lives of the next generation by empowering them with financial skills and knowledge.” Orojimi said the impact of the competition is commendable as the exchange continues to record increased participation and overall high level of interest which have created greater awareness of the dynamics of the stock exchange. “Our achievements are not lost on our stakeholders, as the NSE recently received the ‘Corporate Achievement Award to a Financial Institution’ at the inaugural annual Financial Literacy Excellence (FILEX) Awards for promoting financial literacy in Nigeria.”

Yekini Jimoh in Lokoja Salem University, Lokoja, Kogi State has been commended for adhering to due process in the operations of the university, thereby creating a balance in the system. The commendation was given during the presentation of the report of the pilot study on the Nigerian University System Study and Review conducted by the ICPC Anti-corruption Academy of Nigeria, at the Senate Chamber of the university. The Provost of the Acad-

emy, Professor Shola Akin, who led the ICPC team to the university, said the pilot study was a fact-finding and problem-solving strategy, which involved the examination of the current policies, practices, behaviours and systems of public bodies to determine whether they aided corrupt practices and to what extent they were prone to doing so. He added that three universities were randomly selected among 124 universities in the country for the pilot study. They universities were Salem

University, Olabisi Onabanjo University, Ago Iwoye and University of Nigeria, Nsukka. The pilot study was centred on eight key areas of university operations: admissions; enrollment and registration of courses; examination administration; award of degrees and graduation of students; teaching and learning services and facilities; appointments, promotion and discipline of Staff; departmental administration and faculty governance; contract awards; management of funds and research and research administration

WEDNESDAY, SEPTEMBER 14, 2016, • T H I S D AY

CITYSTRINGS

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

A Different Kind of Carpentry Yinka Olatunbosun reports on a rare find at Fountain Fields, Ikeja where wood work isn’t just hard work

The carpenters at work

good-spirited gathering of architects inside Ikoyi recently led this reporter to a state-of-the-art carpentry workshop in Oregun where carpenters have kissed tools like chisel, saw, pry bars and hammer, goodbye. It began as a light-hearted conversation over cocktails and the manager, Fountain Fields, Harry Eta-Besong, clad in well-tailored jacket introduced himself as a carpenter. Naturally, the warped image of a non-lucrative blue-colour job came to mind. As though that was not surprising enough, the distinguished-looking CEO, Kayode Oduwole, adorned in regal traditional attire, seemed to enjoy the surprised expression on the reporter’s face more than the content of his transparent glass cup. “You should come to our workshop,’’ said Oduwole, sensing the curiosity in this reporter as regards the nature of wood work they peddle that make them look so polished. Last week, the overdue visit was paid to the workshop that is equipped with high-power machinery to perform tasks in carpentry. Oduwole, a retired architect, spends his day time supervising the work of his employees who work from eight to five with a compulsory one hour break. He learnt a while ago not to neglect that oversight function to anyone. Precisely in 2008, he shut down the facility and only reopened five years ago. “We had some internal problems and we had issues with the wood and paint,’’ he began. “The manager then began to compromise

on standards. I am an architect and I was in active practice then. I was just doing this out of passion. But he decided to be unfaithful. I care about my integrity a lot. I shut down the facility in December 2008 and paid off all salaries and allowances. So in 2011, I began to research into how doors are produced in

They use this machine to make keyholes so that they are neat. We don’t use chisels. This is the wood molder- it can be used to carve wood. This one is used to measure the thickness of the wood for the desirable size to be achieved. This one cuts wood into various lengths. That is the edge binder. We use it to seal up wood edges to make them look neat

other climes,’’ he recounted. In his research, he toured a wood work factory in Turkey and recorded a short video which he showed to this reporter. “The machine they had there could only make the normal doors. But our machines can make longer doors. I went there to learn how these things are done. You see how that door edge is made. We decide to lift that edge to protect the door. We also place honey comb in the door carcass and add reinforcement to it. They don’t do that. They only place the honey comb in the carcass,’’ he said. With protective masks fastened around the neck, he motioned to this reporter to follow him on a tour of the facility. No carpenter was sweating; the floor was clean except for a pile of wood scrapings that was heaped at the corner towards the exit door. Oduwole explained how each machine works over the noise from the compressor. “They use this machine to make keyholes so that they are neat. We don’t use chisels. This is the wood molder- it can be used to carve wood. This one is used to measure the thickness of the wood for the desirable size to be achieved. This one cuts wood into various lengths. That is the edge binder. We use it to seal up wood edges to make them look neat,’’ Oduwole said as he walked towards a pile of fresh wood. There are woods for making kitchen cabinet and it is rarely imported by carpenters because of its high cost. “The door vent allows for ventilation.

Instead of hammer and nail, this is what we use. Touch it,’’ he said, as this frightened reporter-guest jumped at the startling sound of a device used instead of a hammer that works literarily like a stapler. When asked if there is any hammer in the workshop, Oduwole smiled as he explained why the facility has ruled out old tools. “We have but we don’t base our operations on such tools. We have a mechanised system. We try to simplify the work as much as possible,’’ he said. He showed the different sizes of the honey comb to this reporter and the photo-journalist who squatted in front of the fountain of saw dust to take some shots. “The only thing we obtain here in Nigeria is the wood,’’ he continued. “The South-west has the largest deposit of wood in Nigeria. We have the products and the quality that can compete with international standards. We have the capacity to make 96 doors in one day. “We have produced doors for a college in Abuja in 2013. Then we had some people who were suggesting that they should have imported Chinese doors. But they gave us the contract and we executed it. I never met the school owner until recently. And when he found out that we made their doors at the school he was really happy. ‘We are enjoying those doors,’’ he said. Inevitably, they have specialised at making doors, including well-fortified security doors one of which he invited this reporter to lift. It was the best answer to the question of why they

WEDNESDAY, SEPTEMBER 14, 2016, • T H I S D AY

CITYSTRINGS

We don’t allow nonprofessionals to operate the machines. We have carpenters and machinists in this workshop. These machines are very powerful. They can chop off the hands if one is not careful

The polishing of the doors

The spraying of the finished doors Kunle Ogunfuyi

are no female carpenters. And that seemed to be the hard part of the job, requiring no fewer than four men to move one security door. While reflecting on security doors that work with codes, Oduwole explained that that technological innovation doesn’t come cheap. “We do the key types. The price of making coded doors is high. Nigerians don’t buy it. A coded lock is about N350,000 and that doesn’t include the cost of the door. Unless there is a special demand by a client, we hardly make such doors. I would prefer if you bring the lock and then we make the doors for you,’’ he remarked. The compressor relies on electrical power to release air to the machines. The machines all depend on the air to work. Once the compressor is full, it releases the air. The air serves as the driving force that powers the tool to work. It makes the job faster, while saving time and energy. On the matters of safety, the manager revealed that there is a culture of training for the workers. New employees are not allowed to use the machines because a mistake can be very costly. “We don’t allow non-professionals to operate the machines. We have carpenters and machinists in this workshop. These machines are very powerful. They can chop off the hands if one is not careful,’’ said the manager, Eta-Besong. Weekly trainings on the new trends in the wood work industry are offered to the

CEO, Fountain Fields Limited, Kayode Oduwole

employees and they are also trained on etiquette as well as human relations to prepare them in case they meet with clients at the site during installations. The facility used to attract other carpenters

who brought their works for finishing. “But some carpenters didn’t want to pay for the services that we render. We need to service our machines and pay salaries,’’ said Oduwole.

For him, good work is not synonymous with hard labour. With his own effort towards building the economy, furniture would eventually be struck out of the list of items that Nigerians need to import to the country.

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WEDNESDAY SEPTEMBER 14, 2016 • T H I S D AY

INTERNATIONAL

email:foreigndesk@thisdaylive.com

Clinton to Resume Presidential Campaign Democrat Hillary Clinton has said that she could resume presidential campaigning in a couple of days after a bout of pneumonia that she initially had not believed was “that big a deal.” Clinton’s health scare after she almost collapsed at an event on Sunday, causing her to cancel some campaign trips, revived concerns about a tendency toward secrecy that has dogged her campaign, and underscored perennial worries about the medical fitness of candidates for one of the world’s most demanding jobs. “Well, it will be in the next couple of days. ... I just want to get this over and done with and get back on the trail as soon as possible,” she said in an interview on CNN on Monday night, adding she had ignored doctor’s orders to rest. “I just didn’t think it was going to be that big a deal.” Her campaign acknowledged

on Monday it may have been too slow disclosing her pneumonia diagnosis after she nearly fainted at a New York memorial ceremony for the Sept. 11, 2001, attacks. She was diagnosed with the lung infection on Friday. “I think that in retrospect, we could have handled it better in terms of providing more information more quickly,” Clinton spokesman Brian Fallon told MSNBC earlier in the day. The health problem was the latest blow for the Democratic presidential nominee at a time when Republican rival Donald Trump has erased most of her lead in national opinion polls and is competitive again in many battleground states where the Nov. 8 election is likely to be decided. Clinton, 68, said she had dealt with similar episodes of dizziness before. “You know, it is something that has occurred a few times over

Israeli Aircraft Attacks Syrian Army Position Israel said its aircraft attacked a Syrian army position yesterday after a stray mortar bomb struck the Israeli-controlled Golan Heights, and it denied a Syrian statement that a warplane and drone were shot down. The air strike was a now-routine Israeli response to the occasional spillover from fighting in a five-year-old civil war, and across Syria a ceasefire was holding at the start of its second day. Syria’s army command said in a statement that Israeli warplanes had attacked an army position at 1 a.m. on Tuesday (2200 GMT, Monday) in the countryside of Quneitra province. The Israeli military said its aircraft attacked targets in Syria

hours after the mortar bomb from fighting among factions in Syria struck the Golan Heights. Israel captured the plateau from Syria in a 1967 war. The Syrian army said it had shot down an Israeli warplane and a drone after the Israeli attack. Denying any of its aircraft had been lost, the Israeli military said in a statement: “Overnight two surface-to-air missiles were launched from Syria after the mission to target Syrian artillery positions. At no point was the safety of (Israeli) aircraft compromised.” The seven-day truce in Syria, brokered by Russia and the United States, is their second attempt this year by to halt the bloodshed.

the course of my life. I’m aware of it and usually can avoid it,” she told CNN. Asked if she passed out during the incident on Sunday, she said: “No, I didn’t. I felt dizzy and I did lose my balance for a minute. Once I got in. Once I could sit down. Once I could cool off. Once I had some water, I immediately

started feeling better.” Her campaign said her husband, former President Bill Clinton, would campaign on her behalf while she rests. Both Clinton and Trump, 70, said they intended to release more of their medical details in the coming days, as their campaigns gear up for the November election.

Questions about the incident reinforced the perception of Clinton as secretive, a view fueled by the controversy surrounding her use of a private email server while serving as President Barack Obama’s secretary of state from 2009 to 2013. A federal investigation of that issue said she was “extremely care-

less” in her handling of classified emails, but did not recommend criminal charges. Trump said on Monday that health was a campaign issue but he did not attack Clinton over her physical condition. “I just hope she gets well and gets back on the trail,” he said in an interview with Fox News.

Edward Snowden Begs Obama for Pardon United States intelligence whistleblower, Edward Snowden, called on President Barack Obama to pardon him, saying in comments published Tuesday it had been morally “necessary” to shine a light on mass surveillance. The former intelligence contractor has spent three years in exile in Russia after initiating the largest data leaks in US history, fuelling a firestorm over the issue of mass surveillance. “If not for these disclosures, if not for these revelations, we would be worse off,” he told Britain’s Guardian newspaper in a video-link interview from Moscow on Monday. “Yes, there are laws on the books that say one thing, but that is perhaps why the pardon power exists — for the exceptions, for the things that may seem unlawful in letters on a page but when we look at them morally, when we look at them ethically, when we look at the results, it seems these

were necessary things,” he said. The 33-year-old insisted he had widespread support, saying the “public by and large cares more about these issues far more than I anticipated.” Snowden, whose residency permit in Russia runs out next

year, explained he was prepared to spend time in jail in the US, adding he was “willing to make a lot of sacrifices for my country”. US anti-establishment director Oliver Stone called for Obama to pardon Snowden while unveiling his espionage thriller

biopic about the whistle blower at the Toronto film festival earlier this month. Last year, the White House rejected a petition signed by over 150,000 urging a pardon for Snowden, saying he should be “judged by a jury of his peers.”

EU Should Expel Hungary over Migrants’ Treatment Hungary should be excluded from the European Union for anti-migrant policies that undermine EU values, including erecting a razor-wire fence, Luxembourg Foreign Minister Jean Asselborn said in comments published yesterday. The unusually strong attack on Viktor Orban’s government, which prompted a vigorous riposte from Budapest, came three days before a crucial summit intended to project the bloc’s unity after Britain’s shock decision to leave.

“We cannot accept that the basic values of the European Union are being so seriously breached,” Asselborn told German daily Die Welt. “Anyone, like Hungary, who builds fences against war refugees or breaches press freedom and the independence of the justice system should be temporarily, or if needed forever, excluded from the EU.” The direct call for the exclusion of a fellow EU member state was unprecedented, and underscored

the extent of Europe’s divisions over sharing responsibility for the more than 1 million migrants and refugees who reached its shores last year. Hungarian Foreign Minister Peter Szijjarto said his country had defended Europe throughout its history, and described his Luxembourg colleague as “condescending, uppity, and frustrated.” Orban has angered many of his EU partners with his tough rhetoric on migrants and by fortifying his borders to keep them out. He has called a referendum next month in which he is urging Hungarians to vote against future EU quotas stipulating how many refugees each country should take. The EU could not tolerate such behaviour, and exclusion was “the only possibility to preserve the integrity and values of the European Union,” Asselborn said. Humans fleeing from war were being treated almost worse than wild animals, he added. “The fence that Hungary is building to keep out refugees is getting longer, higher and more dangerous. Hungary is not far from issuing an order to shoot refugees,” he said. In response, Szijjarto told state news agency MTI only Hungarians could decide who they were willing to live with, a right that neither Brussels bureaucrats nor the Luxembourg foreign minister could take away. He said it was strange that Asselborn, who came from the land of “tax optimisation”, and another Luxembourger, EU Commission President Jean-Claude Juncker, were talking about shared burdens. “We understand what it means, though: Hungary has to pay the piper after other people make mistakes,” he said. Czech Prime Minister Bohuslav Sobotka sharply criticised Asselborn’s comments. “The discussion these days is focused on the future of the European Union,” he said. “Further raising of the barriers and calls for exclusion of member states are, in my opinion, nonsense... Europe must cooperate and stay coherent.” German Foreign Minister Frank-Walter Steinmeier said: “I can understand, looking at Hungary, that some in Europe are getting impatient... However, it is not my personal approach to show a European member state the door.”

T H I S D AY • WEDNESDAY SEPTEMBER 14, 2016

Nigeria’s top 50 stocks based on market fundamentals

TOTAL OIL NIGERIA PLC: Remarkable profitability despite macro-economic challenges Total Nigeria Plc is the marketing and services subsidiary of Total; a multinational energy company operating in more than 130 countries and committed to providing sustainable products and services for its customers. For over 50 years, Total Nigeria Plc has remained the leader in the downstream sector of the Nigerian oil and gas industry with an extensive distribution network of over 500 service stations nationwide and a wide range of top quality energy products and services. Total Nigeria Plc (RC 1396) was incorporated as a private company on June 1, 1956 to market petroleum products in Nigeria. In December 11, 2001, the company had a successful merger which paved way for sustainable growth and continuous development. Total Oil Nigeria Plc recently released its half year result for the period, ended June 30th 2015, showing significant growth in key performance indicators due to the tough operating business climate in Nigeria. Half-year 2016: Improvement in turnover despite high inflation and FX scarcity. Total Oil Plc reported a 29.92% increase in revenue to N145.48 billion in June 2016 from N111.97 billion in the corresponding year of 2015. Despite the challenging global and domestic oil market quagmires during the year caused by instability in crude oil price, Total Nigeria Plc was able to record a magnificent rise in sales. Most Nigerian oil marketers struggled to grow revenue due to the sharp drop in petroleum product supply following the rise in importation cost as a result of the depreciation of the Naira and the sudden reduction in the regulated price of product in the domestic market without a clearer policy direction on how government intended to fund the eventual expanded subsidy implications. Hence, the various payment disputes surrounding the Petroleum Support Fund (PSF) allocation highlighted the cautious product importation by players including Total Oil Plc and the eventual scarcity that was witnessed in the early in the year of the quarter under review. Expectedly, the Company recorded a massive rise of 80.03% in gross profit to N22.91 billion in June 2016 from N12.72 billion in the corresponding year of 2015, despite a rise of 23.50% in costs of sales to N122.58 billion in June 2016 from N99.25 billion in June 2015. Cost effectiveness improves operationally income For the period ended June 30th 2016, Total Nigeria Plc’s selling and distribution expenses increased by 23.18% to N2.83 billion in June 2016 from N2.30 billion recorded in the corresponding period of 2015. Over the last few years, increases in selling and distribution expenses have led to increasing operational costs. This we believe is majorly due to high overhead cost ranging from the cost of delivering its product through trucking to all its retails outlets in the country to high personnel costs due to staff recruitment to meet with its expansion plans and to help achieve its

In addition, we expect the modest leverage in the book of the Company to allow it significant room for debt driven growth through balance sheet optimisation in light of recent Federal Government policy and price modulation in the industry, which will lead to expanded market opportunities and improved profitability

goals and objectives. The Company continued to invest heavily in the promotion of its popular “Quartz” oil lubricant aimed at further strengthening the ‘Total’ brand across the federation. This is in addition to expenses incurred on repairs, maintenance and upgrade of some of its retail outlets nationwide. However, recent report indicates that administrative expenses was well managed as it declined by 6.89% to N7.47 billion from N8.02 billion recorded in June 2015. Hence, in spite of Total Nigeria Plc’s financial report of a drop of 26.79% in other income to N427m in June 2016 from N583m in the corresponding period of 2015, operating profit for the year grew substantially to N13.03 billion from N2.99 billion in June 2015 which indicates an enormous growth of 336.10%. Massive profitability maintained despite finance cost. Financial income decreased enormously by 91.33% to N179m from N2.06 billion while finance cost also followed suit with a decrease of 61.77% to N274m in June 2016 from N718m in June 2015. However, due to significant decline in finance income, net finance costs was recorded to the tune of N96m compared to net finance income of N1.34 billion recorded during the half-year 2015. Profit before tax grew substantially by 198.58% to N12.94 billion from N4.33 billion, due to the aforementioned rise in operating profit. Net income also followed suit with a rise of 270.55% to N8.93 billion in June 2016 from N2.41 billion in June 2015, while a massive rise of 108.30% was reported in income tax expense to N4.00 billion from N1.92 billion over the same period. The company’s profitability and efficiency ratios rose significantly. Return on asset (ROA) moved to a stronger position of 7.15% while return on equity (ROE) holds fort at a high 42.34% as at half-year 2016. Pre-tax margin also followed the upward trend rising to 8.89% from 3.12% recorded as at beginning of the financial year. Strong asset quality Total Oil Plc reported an increase of 49.39% in total asset to N124.97 billion as at June 2016 from N83.65 billion as at December 2015 while its total liabilities grew by 54.08% to N103.87 billion from N67.41 billion over the same period. The increase in total assets is attributable to the following: 58.84% rise in other receivables, 53.75% increase in trade and other receivables and a 146.30% in cash and bank balances; while on the flip side rise in total liabilities is attributable to the following: 5.69% rise in borrowings, 70.56% increase in trade and other payables and an increment of 139.55% in current tax liabilities. However, despite a higher rise in total liabilities compare to total assets, the company’s shareholders fund rose significantly by 29.92% to N21.10 billion from N16.24 billion over the year. BUY recommendation We recognise the management’s effort in curbing its expenses which has been a major burden hampering the profitability of the company. In addition, we expect the modest leverage in the book of the Company to allow it significant room for debt driven growth through balance sheet optimisation in light of recent Federal Government policy and price modulation in the industry, which will lead to expanded market opportunities and improved profitability. Federal Government of Nigeria has recently implemented a partial deregulation that recognises in its pricing template global price of fuel and the prevailing foreign exchange rate amongst others. Based on the company’s current performance, we have revised projections to revenue of N262.19 billion and a net income of N13.64 billion for the full year December 2016. This leads to a forward EPS of N40.17. Using price to earnings multiple of 6.00x and the net asset method of valuation, we arrive at a six-month target price of N284.61 and since this represents 18.06% upside potential on the current price, we therefore place a BUY on the stock of Total Nigeria Plc.

WEDNESDAY SEPTEMBER 14, 2016 • T H I S D AY

NEWSEXTRA

CBN Warns Nigerians against Investing in Wonder Banks Obinna Chima The Central Bank of Nigeria (CBN) has warned Nigerians to be careful of any deposit money institution that is not insured by the Nigeria Deposit Insurance Corporation (NDIC). The bank through its the acting Director of Corporate Communications, Mr. Isaac Okoroafor, made this known yesterday against the proliferation of wonder banks in the country in recent times. Okoroafor said such deposit money institutions were dubious present Ponzi schemes “At times like this when the economy has suffered some decline, Nigerians should be very careful with those they deal with. Any institution that is not licensed by the CBN to accept deposits should not be given money to keep under any guise,” he advised. He warned Nigerians to beware of the so-called wonder banks, explaining that they were makeshift institutions to dupe people. “We can vouch for the banking system. The deposit money banks are the only licensed institutions to take deposits. If you need to deposit money in any form, go to

any of the deposit money banks and put your money, you can buy fixed income instruments or invest in stocks,” he said. Okoroafor said the CBN could not guarantee the unregistered institutions, insisting that when depositors lose money to them, the bank would not be able to help them. “These people always come with very interesting propositions. These are fraudsters who are just out there to collect people’s money and run away as soon as they hit their target. There is no insurance because the NDIC does not even protect them against such risks when they occur,” the CBN said. He said the CBN was intensifying efforts and liaising with the various security agencies to identify the promoters of these schemes and have such persons arrested and prosecuted, adding that anyone caught with them would also be made to face the law. Promoters of wonder banks and other pyramid schemes in the country are currently taking advantage of the rising level of unemployment as well as the shrinking disposable income to attract unsuspecting prey.

From Lagos to Port Harcourt and some other big cities in the country, owners of these illegal businesses have been offering Nigerians mouth-watering interest rates, which cannot be found in the banking system, in a bid to attract large number of customers before they run away with huge cash. For instance, at the Ojuelegba area of Lagos, THISDAY was recently given a small handbill advertising investment schemes that offers 30 per cent returns in 30 days. Also, there is a new Ponzi scheme called ‘MMM’ that

is spreading like wildfire. A lot of young school leavers have already signed on to this scheme, which the promoters are marketing as a “mutual fund.” “MMM offers its participants 30 per cent growth rate per month for each and every donation they make into the system... MMM belongs to the community, its sustainability depends on the activities of the people that make up the MMM Nigeria community, that is me and you and other MMM Nigeria participants,” the promoters wrote in an online advertisement.

Typically, what promoters of such pyramid scheme do is that they offer rates far beyond what is obtainable in commercial banks. This would always attract a lot of people who would always rush in to stake their funds. But, those who join the scheme late would always be the ones to lose their shirts as they would have been convinced by those that joined earlier to invest huge amounts of money. But experts have warned against falling for the bait of illegal deposit-taking institutions which are not licensed by the CBN, saying that their only

intention is to defraud members of the public. Recall that with the Nigerian economy is in recession, the National Bureau of Statistics (NBS) recently revealed that the country’s gross domestic product (GDP) contracted by 2.06 per cent in the second quarter of 2016, compared to the negative growth of 0.36 per cent recorded in the first quarter of 2016. Also, national unemployment rate also rose to 13.3 per cent in the second quarter of 2016, from 12.1 in the first quarter of 2016.

See Politics as Sports, Not War, Wike Tells Politicians Ernest Chinwo in Port Harcourt

the state. “Our forefathers wherever they are will be happy that this Rivers State Governor, kingdom is now known nationally Nyesom Wike, has called on and internationally. Therefore, we Nigerian politicians to see have every reason to be united politics as sports and not war for the good of our people. The governor assured the that should be fought with people that he would be a desperation. The governor said politics compassionate leader to all must be viewed as sports where the people of the state as his there must be victors and losers, commitment remains: “Rivers but the participants exchange First at all times.” He charged the indigenes of pleasantries, waiting for the Rumuepirikom Kingdom to next contest. The governor spoke always promote brotherly love yesterday when he hosted his and unity among themselves, kinsmen from Rumuepirikom stressing that different groups Kingdom in Obio/Akpor Local would benefit from the state Government Area to a Sallah government’s empowerment lunch at the Government House, schemes. In his remarks, the Chairman of Port Harcourt. He said: “Politics is not war. I the Rumuepirikom Community Committee, advise politicians to see politics Development as sports where there is always Kingsley Owabie, lauded the a winner and a loser. That way, governor for being a worthy we will not have major conflicts ambassador of the kingdom. He assured the governor that his in the community. “When you contest an election kinsmen would always support and someone else has won, him at all times. Chiefs of Rumuepirikom led felicitate with that person hoping that tomorrow will be another day by Chief Anugbum Onuoha when you will have your day.” presented a gift to the governor He urged members of the on behalf of the kingdom. The traditional leadership of Rumuepirikom community to continue to thank God because Rumuepirikom Kingdom was the aspirations of the kingdom led to the event by the paramount have come to fruition with his ruler of Rumuepirikom, Nyeweli emergence as the governor of Barry Opara Owabie.

Dediare Oroye Passes on Mr. Joseph Dediare Oroye, a fellow of Chartered Institute of Accountant passed on peacefully on Friday, September 9, 2016 in Lagos at the age of 79. He was an old boy of Igbobi College, a devoted Christian and a perfect gentleman.

WELCOME TO NTEL

L-R: Director, Legal, ntel, Nkechi Newton-Denila; former Executive Vice Chairman, Nigerian Communications Commission (NCC), Ernest Ndukwe; Chief Executive Officer, ntel, Kamar Abass; and Director, External Affairs, Osondu C. Nwokoro, welcoming Ndukwe when the latter paid a courtesy visit to ntel facilities in Lagos...yesterday.

Over-dependence on Oil, Bane of Nigeria’s Devt, Says Lai Muhammed Hammed Shittu in Ilorin The Minister of Information and Culture, Alhaji Lai Muhammed, has attributed the current economic recession in the country to the nation’s over-dependence on oil. He said such development has also impeded the economic growth of the country. Speaking with journalists yesterday at his country home in Oro, Irepodun Local Government Council of Kwara State, Muhammed said: “The prevailing economic situation is not about trading blames as being experienced in some quarters in the country. Those who understand know that this recession was bound to happen in such circumstance. “The crash in global price of crude oil has exposed the country’s defective economic policy, with oil accounting for over 60 per cent of the nation’s Gross Domestic Product (GDP).” The minister stated that the situation was further compounded by inadequate reserve to cushion the effect of oil ‘misfortunes’ on the country. “We have a very defective

economic structure which depended largely on a single platform of crude oil and fuel. “Crude oil accounts for between eight and 12 per cent of our GDP and another 53 per cent of the GDP which we call non-oil, unfortunately, also depend on the same oil. “When the price of oil eventually crashed in the international market, definitely, you are bound to have this kind of shock in the economy,” he said. The minister decried the citizens’ preference for imported goods to local ones, saying substantial amount of the country’s foreign exchange earnings were being expended on importation of goods and services. Muhammed also blamed the past administrations’ inability to achieve massive investment in infrastructure in order to assist manufacturing industries and boost agricultural production for part of current problem. According to him, “Such inadequacies are responsible for the socio-economic imbalance being experienced in the country today.” The minister, who

acknowledged that there was growth in the nation’s economy between 2010 and 2014, however, said the growth was only fueled by consumption. “The growth was not fuelled by production or fuelled by investment; that explains why it was short lived,” he added. Mohammed said the present administration efforts to correct past anomalies could not be felt immediately because the rots in the system were too enormous for short term remedies. He disclosed that the administration inherited a whooping debt of N67 billion on fertilizer procurement alone. The minister listed part of the administration palliative reforms to include massive investment in infrastructure and agricultural production. “People say we should not talk about what happened yesterday but it is pertinent to learn, understand and move away from past mistakes. “In the whole of 2014, the then government expended about N18 billion on roads, but spent N35 billion on travels, this year alone, we have spent

N70 billion on roads. “People ask why all these steps have not been felt immediately; it is because the last government refused to pay contractors between 2012 and 2015 even when crude oil was selling at $100 per barrel. “Out of the N70 billion being owed Julius Berger, we have paid N14 billion. “If the government was not owing Julius Berger in the past and we paid N14 billion to them, you would have seen them busy on the roads,” he said. Mohammed said ‘Change Starts with Me’ initiative launched by the federal government last Tuesday was to instill discipline and the needed change of attitude of both the leaders and the led. According to him, such remained the basic foundation and driving force to actualise the socio-economic transformation for the country. “Nigerians have to change their attitude from the past; it is not only about the leaders but also the followers. “This is the only way we can achieve our desired progress, growth and development.”

WEDNESDAY SEPTEMBER 14, 2016 • T H I S D AY

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FG Raises Concern over Impact of Climate Change, Other Environmental Problems Ndubuisi Francis in Abuja The federal government has described the quest for a sustainable environmental management as a global concern, saying that the impact of climate change, high rate of deforestation, loss of biodiversity,

land degradation as well as desertification, and flooding “are staring us in the face.” The Minister of Environment, Mrs. Amina Mohammed, who raised the concern in Abuja yesterday, said this explained why the current administration made sustainable environment

Buhari Happy with Air Force Personnel Fighting Boko Haram, Says CAS The Chief of Air Staff (CAS), Air Marshal Sadique Abubakar, has told Air Force personnel involved in the fight against Boko Haram insurgents in the North-east that President Muhammadu Buhari is very happy and appreciates their efforts. Abubakar made the statement on Tuesday during an Eid-el-Kabir celebration lunch with Air Force troops at Yola Air Force Base. The CAS was represented by Chief of Policy and Plans, NAF headquarters, Air Vice-Marshall James Abubakar. Abubakar, said Buhari was full of appreciation for the troops and urged them to sustain the efforts toward bringing peace to the North-east and Nigeria. “The good work you are doing is appreciated by the commanderin-chief; he is sending his greetings to you at this festive time.

“He commends your efforts and urges you to sustain your commitment for peace in the Northeast and Nigeria as a whole. “We also want to use this opportunity to thank the commander-in-chief for his support to the Nigerian Air Force,’’ Abubakar said. The News Agency of Nigeria (NAN) he said NAF was also happy with the troops’ performance and would continue to ensure their welfare and those of their families. Earlier in an address of welcome, the Air Officer Commanding Tactical Air Command, Air Vice Marshall Muhammed Mohammadu, thanked the CAS for his commitment to their welfare and for always identifying with them to boost their morale. “We want to pledge our support and loyalty to NFA and the nation,” Muhammadu said.

management one of its six pillars. In an address presented on her behalf by the the Director of Forestry in her ministry, Mr. Felix Bankole, at the sixth annual meeting of the African Organisation of Supreme Audit Institutions Working Group on Environment Audit (AFROSAI WGEA), Mohammed noted that the environment serves to sustain humans. “And unless we have a clear knowledge of what is happening to our environment, we may not be able to make appropriate policies for sustainable environmental management,” she said. According to her, the protection of the environment is the responsibility of everyone, assuring of government’s preparedness to provide the enabling environment. In her welcome address, the Acting Auditor General of the Federation (AuGoF), Mrs. Florence Anyanwu, said the main theme of the meeting, “Working Together

for a Healthy and Sustainable Environment in Africa” was apt while the meeting was significant. The significance of the meeting, she said, stemmed from the fact that it was coming after the Paris conference on Climate Change, and the adoption by the United Nations Assembly in September 2015, of the 2030 Development Agenda, which provides 17 Sustainable Development Goals (SDGs) to be implemented by all countries of the world. The Acting AuGoF expressed the hope that the objectives of the 6th AFROSAI WGEA meeting, which include strengthening Supreme Audit Institutions’ (SAIs’) capacities on technical aspects of environmental auditing , SDGs and other international environmental agreements, among others, would be successfully carried out at the end if the meeting. “Nigeria would particularly like to see that the Niger Basin Authority comprising Benin Republic, Burkina

Faso, Cameroon, Chad, Cote d’Ivoire, Guinea, Mali, Niger and Nigeria agree to commence the Cooperative Environmental Audit Project on River Niger and also develop a roadmap where SAIs are not isolated from service delivery, sustainability needs and performance requirements, even where legal mandates restrict SAIs to financial audit,” Anyanwu said. Also in her remarks, the AFROSAI WGEA Chair and Minister Delegate of the Presidency in charge of the Supreme State Audit Office of Cameroon, Mrs. Mbah Acha Rose Fomundam, regretted that for some years now, environmental had become a global challenge, synonymous with responsibility towards future generations. Fomundam noted that through many initiatives, conferences and summits, world leaders came to the understanding that the natural riches of the earth are unlimited. “At the same time, citizens have increasingly expected that organisations that hurt the

environment be held accountable for their actions. “Many citizens feel that government declarations concerning the environment and sustainable development should be subject to independent audits to assess the extent to which they are implemented,” she said. But she lamented that despite the signing of multilateral agreements on the environment, and established institutions, current scientific studies reveal that many of the planet’s ecosystems have rapidly deteriorated over the last 20 years. The 6th AFROSAI WGEA meeting which holds between September 12 and 16 in Abuja, has in attendance, representatives from about 44 African countries, Belgium, Germany and Indonesia, among others, as well as development partners. AFROSAI WGEA is the African regional branch of a global working group of the International Organisation of Supreme Audit Institutions I (INTOSAI).

Niger Delta: Ijaw National Congress Pleads for Dialogue The Ijaw National Congress (INC) yesterday urged the federal government to use dialogue in resolving issues in the Niger Delta. The president of the congress, Mr. Boma Obuoforibo, said in Port Harcourt that military option would not be in the interest of the people of the region. “We call on President Muhammadu Buhari to disregard calls for military campaign against the restive youths as peaceful discourse remains the best option in resolving the issues in the Niger Delta,’’ he said. Obuoforibo, according to the News Agency of Nigeria (NAN), said the use of dialogue had become necessary since the youth had heeded calls of elders and leaders within and outside the region and were ready to talk with government. “It is expedient that comments

and actions that would aggravate the situation should be avoided. “We equally implore the government to urgently demilitarise and withdraw the military from all of our communities,’’ he said. According to Obuoforibo, Ijaw people are not adverse to the government of President Buhari. “We commend the president for the launch of Ogoni Clean-up and steps taken so far for its full implementation. “We hope that other areas in the Niger Delta equally impacted will be given similar considerations,’’ he said. The president said that one major reason the crisis in the Niger Delta had lingered without any meaningful solution was insincerity on the part of successive governments and operators of the oil sector.

FG Donates Relief Materials to Yobe IDPs The federal government has donated relief materials to some Internally Displaced Persons (IDPs) to cushion their six-year suffering in the hands of Boko Haram terrorists. The Minister of Women Affairs and Social Development, Senator Amina Jummai Alhassan, disclosed this in Damaturu when she presented the materials at the Pompomry Camp. According to her, she was in the state for advocacy and enlightenment visit and interaction with the IDPs in the state and to assess their condition of living. The News Agency of Nigeria

(NAN) reported that the items presented by the minister included 500 mosquito nets, 250 pieces of 3/6 mattresses, 250 pieces of 2/6 mattresses, 250 towels, 500 pillows, 500 cartons of wash, 250 wrappers, 500 cartons of wash soap, 500 slipass and 500 baby pampers to celebrate Eid-el-Kabir. Responding, the state Governor, Ibrahim Gaidam noted that the visit would give the minister the opportunity to assess and see the various efforts being made by the state government to address the problems of women generally and those of widows and orphans.

OUR BELOVED SON

Rivers State Governor, Nyesom Ezenwo Wike (right), receiving a gift from Chief Anugbum Onuoha of the RumuepirikomTraditional Council during a special Sallah lunch hosted by the governor for the Rumuepirikom Kingdom in Government House, Port Harcourt... yesterday

Economic Recession: Rejig Your Economic Team, Ekiti NLC Tells Buhari Olakiitan Victor in Ado Ekiti The leadership of the Nigeria Labour Congress (NLC) in Ekiti State has advised President Muhammadu Buhari to take critical actions that will make his change agenda have positive impacts on the lives of Nigerians. The labour group urged Buhari to make meaningful changes to his economic team so that his much-touted change mantra won’t end like a mere slogan without productive effects on the lives of the citizens. The Chairman of the congress, Ade Adesanmi, said this in his Sallah message to Nigerian Muslims in Ado Ekiti on Tuesday. Adesanmi said what the president promised Nigerians before the March 28, 2015 presidential poll was life full

of abundance for Nigerian citizens and not the hardship being presently witnessed by the populace. “President Buhari campaigned in all the 36 states of the federation and what he promised us was life full of peace and abundance. “However, the president has been able to give us peace by way of tackling Boko Haram insurgents while he has also taken decisive actions against militancy in the Niger Delta, but the issue of the receding economy as shown in the skyrocketing prices of goods and services and callous losses of jobs by Nigerians are worrisome. “President Buhari did not promise that a bag of rice which was sold for N9,000 will be sold for N40,000, he didn’t promise that a bag of cement

which was sold for N1,500 will be sold for N2,500 within one year he assumed office, he didn’t promise that a litre of petrol which cost N87 will be jacked up to N145, among other food items which prices have jumped up in four folds. “The APC-led federal government must look beyond its party to solving our economic problems. We suggest that President Buhari must rejig his economic team. He must make changes before things get out of hands. “As much as we align with the idea of relying on Nigerian products to grow our economy, we disagree with the idea of total ban placed on some food items to allow internal production of such commodity. “Of particular reference, the federal government should lift ban placed on rice importation and set a minimum of three

years to allow for internal production of rice before effecting the ban. This I think will be the best way for Nigeria to get out of the famine ravaging the land,” he advised. Adesanmi, who appealed to Muslims to continue to co-exist peacefully with their Christian brothers, called on politicians to stop politicising the economic recession that his hitting the Nigerian masses. “This is the time for sober reflection and not a time to apportion blames. We have a problem at hand that is affecting very Nigerian, both high and low and the best way to get out of it is to make good suggestions that will be in the interest of all Nigerians rather than making political capital out of an unfortunate situation,” Adesanmi advised.

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Anti-Corruption War Lopsided, Shrouded in Secrecy, Says PFN President The President of the Pentecostal Fellowship of Nigeria (PFN), Reverend Felix Omobude, has

described the anti-corruption crusade being championed by President Muhammadu Buhari

Ondo Guber: APC Appeal Panel Report Ready Onyebuchi in Abuja The Appeal Panel Committee of the All Progressives Congress (APC) for the Ondo State governorship primary election will conclude sitting and submit its report within the week. The committee, which is probing the governorship primary that produced Chief Rotimi Akeredolu (SAN), sat all through the Sallah holiday considering the allegations raised by three of the 24 APC aspirants. THISDAY gathered that some of the aspirants who contested the governorship ticket of the APC had petitioned the Appeal Panel Committee headed by Mrs. Helen Bendega demanding the cancelation of the result of the primaries. Among those who submitted their petitions to the panel alleging irregularities in the primaries are Chief Olusola Oke, Senator Ajayi Borofice and Segun Abraham. Another aspirant who also submitted their petition to the APC Appeal panel Akinwale Akingbade, alleged in his petition that fake delegates list was used during the primaries among other irregularities. Akingbade, said that the names of the people on the delegate list were unknown to the party, wheras the real delegates were left out.

Akingbade maintained that the party should be held responsible for the distortions on the delegate lists. While Abraham came second in the primaries, Oke came third and Borofice took the fourth position in the primaries contested by 24 aspirants. The national leadership of the APC has not canceled any of its primaries in the past, but investigation emerged that there is high pressure on the leadership for the primaries to be annulled. One of the contentious issues in the Ondo primary is the alleged irregularities in the delegates list submitted by the National Working Committee of APC. However the National Organising Secretary of APC, Senator Osita Izunaso, has stated that it would be wrong for the party to make any statement when the Appeal Panel had not submitted its report. According to him, any statement made by the national leadership of the party while awaiting the reports of the committee may jeopardise the outcome of the committee’s sitting. A member of the appeal committee who spoke but did not want his name mentioned, confirmed that it has almost considered all the petitions and would submit report this week.

as lopsided, saying it is shrouded in secrecy as Nigerians were not aware of what is behind the veiled activities of the Economic and Financial Crimes Commission (EFCC). Omobude made known in Lafia, the Nasarawa State capital, yesterday while addressing a press conference, saying the church was worried that the anti-corruption fight was targeted at selected persons as some politicians who defected from their political parties to a

particular party became saints overnight despite their proven track record of involvement in corrupt activities. “It is worrisome that some people who defected to a particular political party are now putting blames on one political party which does not make sense to us as a churc.” “It is high time Mr. President finds solution to the current hardship being faced by Nigerians. The blame

game should be put aside.” Accoring to the News Agency of Nigeria (NAN), he noted that the church was not in any way against the fight against corruption but insisted that the fight must be holistic if the desired result must be achieved. The PFN president explained that he was in Lafia in continuation of his state-wide visit to the fellowship to build unity and strengthen the bond of fellowship amongst members and

across religions, urging Christians to imbibe the spirit of tolerance and love for one another. Omobude restated that the church would continue to seek God’s intervention in the challenges confronting the country stressing that with prayers the challenges would be overcome. He commended Christians in the state for their steadfastness, pointing out that he was impressed with the peaceful and orderly conduct of Christians in the state and urged them to maintain the spirit.

US PRAY Ize-Iyamu’s Vision and Mission in LET Chief Rasaki Akanni Okoya (third left), with friends, during Sallah celelbration at the Oluwanisola prayer ground in Lagos...yesterday Politics Not Personal Gains, Says Wife

The vision and mission of the Peoples Democratic Party governorship candidate in Edo State, Pastor Osagie Ize-Iyamu, in politics are not for personal gains but for the welfare of the people, his wife, Dr. Idia Ize-Iyamu, has said. Speaking in Benin at the Christ Embassy Church yesterday, Mrs Ize-Iyamu, urged eligible voters to remain focused on giving their mandate to him in the rescheduled September 28 governorship election. Appealing to women and all eligible voters in the state, Mrs. Ize-Iyamu, said that they should not allow the postponement of the election to dampen their enthusiasm. She observed that other extraneous reasons might have been responsible for the postponement of the election but stressed that the primary concern of eligible voters was to ensure that they did not succumb to tricks and antics of the APC in the state. While further advising them not to sell their Permanent Voters’ Cards (PVCs) as this would mortgage their future, she said all would be well at the end of the election when a new government comes into power. “You all have sacrifices to make if you want to enjoy democracy. No matter the attempts or conscious efforts by the APC to discourage you from voting, be resolute and determined to give your mandate. This is the time to take your destiny into your own hands. Secure a good welfare package for your

husbands and your children with your voters cards.” Mrs Ize-Iyamu who regretted that many youths with talent, creativity and vision were wasting away in the state because of bad government, said the Simple Agenda which contains PDP manifesto would be helpful to them. The Consultant Orthodontist and senior lecturer, University of Benin said Pastor Ize-Iyamu was a staunch believer in God, adding that when he is in power Edo people would rejoice. According to her, Ize-Iyamu had found it not only necessary but desirable to seek the face God and solicit for blessings and prayers from fellow pastors. Responding, the Christ Embassy Benin, zone One Pastor, Moses Olayemi thanked God for Ize-Iyamu’s faith courage and boldness, wishing him success in his enterprise. He advised the PDP gubernatorial candidate to make a vow to God, saying that ‘if God says yes, no man can say no’. He prayed that God should keep terrorists and other mischief makers busy ‘outside the election’ In a related development, Mrs. Ize-Iyamu also paid similar visit to some mosques in Benin where she said that all men were created by one God while urging all Muslim women to vote for the PDP candidate.

Ochicha: Buhari Not Responsible for Our Economic Woes

Bassey Inyang in Calabar The governorship candidate of the All Progressives Congress (APC), in the 2015 general election in Cross River State, Mr. Odey Ochicha, has called on Nigerians to stop blaming President Muhammadu Buhari for the nation’s economic recession. In a statement he issued in Calabar yesterday, Ochicha said Nigerians should learn how to separate lies from facts. Ochicha said if not for the intervention of Buhari’s administration, the country would have been in total shambles by now. Ochicha, a retired Nigeria National Petroleum Corporation (NNPC) manager, stated that there was no where in the world that the economy grows in space, therefore instead of accusing the APC-led administration, the people should ask former leaders of the structures they set up for our economy to grow without oil. He blamed the former administration of Goodluck Jonathan, describing it as “insensitive and the most corrupt in the history of the country which has led us to the present quagmire.” According to the statement,

“Nigerians should begin to channel their questions to the right people and stop believing this rhetorics and illusions that President Buhari and APC are responsible for the nation’s economic woes. “There is nowhere in the world that the economy grows in space. What were the structures the past administrations built for our economy to grow without oil? “The economy grows by the standard of infrastructure and institutions created but unfortunately, the Buhari administration inherited almost a failed state from the PDP that had the rare privilege of managing the affairs of this country for a whole 16 years,” Ochicha said. Blaming the Jonathan administration for mismanaging the nation’s resources, he said: “I can’t understand why people are pointing accusing fingers at this administration. The former administration earned more than 60 per cent of our total revenue from oil yet there’s nothing to show for it. See what is happening with the former first lady? What work was she doing to have such stupendous amount of money in her various accounts? “Over $31.4 million in separate

accounts. What was her source of income? I served this country for 29 years, 6 months and grew to the rank of Deputy Manager in the NNPC but I cannot boast of such huge amount of money because I didn’t steal. But a woman who has contributed nothing to the development of our country is today richer than the entire South-south region. “When people talk about Jonathan handing over the largest economy to Buhari, I begin to wonder whether they don’t understand that Jonathan met a viable economy with the growth rate of 7.9 per cent and left it at about 2.9 per cent. Six months to when he was leaving office and when the prices of crude oil had began to fall, his Finance Minister told us that they were borrowing money to pay salaries of federal workers. “But under the President Buhari’s administration, despite the difficult economic situation, the government has been able to pay salaries without borrowing. The last two month’s federal allocation shared was the highest in the history of this country and was not gotten from oil. Why is nobody talking about this?” He called on Nigerians to be

patient with the President, adding that “nothing good comes easy as the challenges the country is facing is some of the sacrifices we need to make to be great and prosperous again and it’s going to be shortlived considering the dogged approaches being adopted by the present administration to revive the economy.” Continuing, Ochicha said: “Only few countries like United Arab Emirates (UAE), Norway, etc that utilised their oil wealth very well are currently not faced with recession. In fact, Norway is surviving now from about $800 billion foreign reserve it had accumulated but here, former President Jonathan’s finance minister has said it all that they lacked the will to save even when they had the will to squander what other administrations had saved. “So I want to appeal to Nigerians to be patient with the President. What we are going through now is the price other nations had paid to get to where they are. President Buhari and you the good people of Nigeria will make our dear country great and prosperous again. Together, we can build a new Nigeria that is great, powerful, progressive, prosperous, industrialised and world class.”

WEDNESDAY SEPTEMBER 14, 2016 • T H I S D AY

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Oshiomhole: PDP Admits Edo is Working, Bound for Defeat Obaseki calls for vigilance, pledges better healthcare

Adibe Emenyonu in Benin-City Edo State Governor, Adams Oshiomhole, has said his opponents in the Peoples Democratic Party (PDP) have already admitted that the state is working, and that they are bound for defeat in the September 28 governorship election as there was no need to return to the dark past when nothing worked in the state. Speaking during an inspection

of work going on at the New Era School Model School in Benin City, Oshiomhole said the college is by far the most beautiful public secondary school in the South-south region of the country. He said: “I’m glad that even our opponents have to concede that the state is working and the task of taking it to the next level is on and it is sustained. Which is why we have no apology when we say to our opponent the choice in the election that is coming is

Textile Union Lauds Ayade on Garment Factory, Seeks Partnership The National Union of Textile Garment and Tailoring Workers of Nigeria (NUTGTWN) has lauded Cross River State Governor, Prof. Ben Ayade, for his foresight in the establishment of the Calabar Garment Factory, saying it is a landmark achievement in the nation’s quest to diversify its economy. The recommendation which was contained in a letter signed by the National Secretary of the Association, Issa Aremu to Ayade, maintained that the factory, when fully operational, has the potential of transforming the economic landscape of the state and the country at large. Aremu who is also the Deputy National President of Nigerian Labour Congress (NLC), said: “We congratulate Ayade on the successful establishment of what is regarded as a world class garment factory in Calabar.”

The union said: “The factory which is one of the signature projects of your administration aimed at creating mass and decent jobs for the good people of Cross River State is also reckoned to be the biggest in Africa with the capacity to employ about 3,000 workers, largely women.” According to the textile union, “With this singular project, your administration has commendably and practically moved in the direction of economic diversification favoured by President Muhammadu Buhari administration and we will be glad to partner you.” Aremu added that “as a leading private sector union affiliated to the NLC and Industrial Global Union with headquarters in Geneva, Switzerland, we are ready to cooperate with you in ensuring that the aim of establishing the garment factory is achieved.”

between consolidating projects such as this and building more of these projects in different parts of the state or returning to the dark era where everybody was buffeted with excuses, and I believe our people are wiser now and they will not want anybody to put the gear lever on the reverse. “It is a continuation of what we call, ‘eye mark’. Better to see it than to hear of it. Better to get it done than to promise to do it and I’m happy it came out very well. I believe this is more beautiful than Imaguero College and it s perhaps the most beautiful public school in the entire South-South region. As you can see, the concept is totally different and I’m happy we have fulfilled our promise that we were going to put a facility here that will excite not just the children but the entire community. “I’m impressed with the quality of work but it’s just a continuation of and what I like to call ‘APC’ standard or Oshio baba standard. We can’t give our people less than the very best because our people are the very best and they deserve the very best. “The only thing is to encourage the contractor to rush to finish the remaining portion of the work. The Senior Secondary School is

almost done and then, of course, to accelerate work on the Junior Secondary School. This is meant to be a very high profile model school which should compensate for the way in which previous government’s completely neglected the New Era College.” New Era College, which had been abandoned by past governments now has modern classrooms, with a courtyard, air-conditioned staff rooms, a centrally air-conditioned hall which can sit 2,000 people, ICT centre, science laboratory, a library and gives a complimentary view to the equally newly dualised Upper-Mission road and the road extension done by the Oshiomhole administration. Meanwhile, with increasing reports of Lassa fever cases across the country, the candidate of the All Progressives Congress (APC) in the September 28 state gubernatorial election, Godwin Obaseki, has charged health officials in the state to strengthen epidemiology surveillance and response in order to curtail the spread of the disease while promising to boost healthcare facilities for improved service delivery when elected governor. Obaseki made the charge when he received a group of young medical students who paid him

a courtesy visit in Benin City. In his address to the students, he noted that boosting education and improving healthcare delivery in the state are a critical part of his prosperity agenda for Edo people. On the topical public health issue of Lassa fever, Obaseki said: “Irrua Specialist Teaching Hospital is one of only two hospitals in Nigeria with functional laboratories for testing and confirmation of Lassa fever disease, and we must leverage on the institution’s expertise to ensure adequate state-wide response in case of an outbreak. “We must not wait till there is an epidemic in the state before we take action. With the rising cases of Lassa fever across the country – including neighbouring Delta State – health institutions in the state must remain vigilant, and increase epidemiology surveillance and response so as to prevent an outbreak. We – the people-must also pay more attention to sanitising our environment and keeping our homes and communities clean. Improved personal hygiene will also go a long way in keeping our families safe and in good health.” The APC standard bearer acknowledged the remarkable efforts of the current administration in revitalising

healthcare institutions in the state while promising: “Our administration will continue the good works of Oshiomhole by ensuring that our hospitals are equipped with modern health care facilities and staffed with sufficient and well trained care givers for better service delivery.” Lassa fever is an acute viral haemorrhagic illness of 2-21 days duration that occurs in West Africa. The Lassa virus is transmitted to humans via contact with food or household items contaminated with rodent urine or faeces. Person-to-person infections and laboratory transmission can also occur, particularly in hospitals lacking adequate infection prevent and control measures. Update on the World Health Organisation (WHO) website showed that between August 2015 and 17 May 2016, WHO has been notified of 273 cases of Lassa fever, including 149 deaths in Nigeria. Of these, 165 cases and 89 deaths have been confirmed through laboratory testing. The cases were reported from 23 states, including Anambra and Delta States, which lost two medical doctors to the disease just two weeks ago. Early supportive care with rehydration and symptomatic treatment improves survival.

Ondo Guber Primary: PDP Berates Ex-commissioner, Ebiseni James Sowole in Akure The Peoples Democratic Party (PDP) in Ondo State yesterday slammed the former state Commissioner for Environment, Chief Sola Ebiseni, on his comments about the party’s gubernatorial primary elections, describing him as somebody interested in his personal gain. The state Publicity Secretary of the party, Mr. Banji Okunomo, slammed Ebiseni in a statement on the comment of the former commissioner, who contested the governorship primary of the party on the platform of Ali Modu Sheriff’s faction against Mr. Jimoh Ibrahim. Okunomo said it was wrong for Ebiseni to have equated the factional primary held in Ibadan with the valid one held in Akure. The publicity secretary also noted that it was wrong for Ebiseni to have described the party’s primary as illegal and undemocratic while also equating the state party’s primary with the scam that occurred in Ibadan which produced Jimoh Ibrahim. He stated that the mainstream of the PDP in the state held its primary on August 22, 2016 in Akure which produced the party’s flagbearer, Mr. Eyitayo Jegede (SAN). Okunomo posited that the valid PDP primary election was not only democratic but followed all the

legal procedures as stipulated in the party’s constitution. He noted that an attestation to the legality and constitutionality of the valid PDP primary held in Akure is the manner in which the other aspirant, with which Jegede contested, Mr. Saka Lawal, accepted the result of the election and congratulated the winner. Okunomo said it was overambition that made Ebiseni to approbate and reprobate at the same time. “Ebiseni’s position is a confirmation of the initial stand of the party that the Sherrif’s faction and all its dealings in the state are illegal. “Ebiseni’s action portrays that of a desperate person who is only concerned about his personal gains”, he said.. He said if Ebiseni had emerged as the product of the illegal primary that was organised by the illegal camp in Ibadan, he would not have come out to describe the process as illegal. “When Ebiseni was serving as commissioner in the state for two consecutive terms under the present administration, and when he served as the governor’s nominee at the 2014 national conference, nothing was wrong with Governor Olusegun Mimiko but the war started when he failed to secure the governor’s endorsement.

RECOGNITION FOR CSR

Major N. A. Uduma (left) handing over a plaque to the Managing/CEO of Fundvine Capital and Securities Limted, Lagos Dr. Michael Kasarachi Eyinna (right), in appreciation of the company’s contribution towards the Ammunition Transit Depot (ATD) Quarter Guard Renovation Exercise of the Nigerian Army as part of the company’s Corporate Social Responsibility(CSR.)...recently

Ogun Lawmaker’s Car Crushes Two to Death Sheriff Balogun in Abeokuta Two persons were confirmed dead in a road accident yesterday along Abeokuta-Siun Expressway, while nine others were critically injured following fatal accident involving a Nissan Serena space-bus marked 25 OGHA belonging to one of the members in the Ogun State House of Assembly. The accident was said to have involved a Toyota Picnic

passenger space-car marked (LAGOS) KSF 957 BB and a Nissan Serena space-bus marked 25 OGHA belonging to one of the members in the Ogun State House of Assembly. While confirming the accident, the Sector Commander of the Federal Road Safety Commission (FRSC), Adegoke Adetunji, said 17 people were involved in the auto crash. Adetunji further stated

that the driver of the Toyota Picnic space car had stopped his vehicle to change one of his tyres before the driver of the Ogun State House of Assembly rammed into the picnic car where the driver and one of the passengers of the Toyota picnic car died. Meanwhile, Public Relations Officer (PRO) of the Traffic Compliance and Enforcement agency (TRACE), Babatunde Akinbiyi, said driver of the

over-speeding Nissan Serena space bus was discovered to have been drunk as at the time of the crash. The FRSC Sector Commander, however, explained that all the injured victims had been taken to the Federal Medical Centre (FMC), Abeokuta, while the two corpses were also deposited in the same hospital. Adetunji added that the police had arrested the drunk-driver of the Nissan Serena space bus.

WEDNESDAY SEPTEMBER 14, 2016 • T H I S D AY

NEWSEXTRA

Bayelsa: Appeal Court Reserves Judgment in Appeal Challenging Dickson’s Victory Tobi Soniyi in Abuja The Court of Appeal sitting in Abuja has reserved judgment in the appeal by the All Progressives Congress (APC) governorship candidate in Bayelsa State, Timipre Sylva, challenging the election of Governor Seriake Dickson of the Peoples Democratic Party (PDP). Before reserving judgment, the court struck out the preliminary objection filed by the PDP challenging the competence of the appeal. The appellate court also refused the application by the Independent National Electoral Commission (INEC) to amend its brief by adding some words which it claimed were omitted.

The Court of Appeal heard multiple appeals arising from the judgment of the Bayelsa State governorship election tribunal which upheld Dickson’s election. Arguing the main appeal, lead counsel to the appellants, Chief Sabastine Hon (SAN), submitted that the tribunal was in error when it dismissed the petition. He submitted that the governorship tribunal misinterpreted section 26 (1) of the Electoral Act, 2011, which he argued, dealt with postponement and not cancellation of an election. He argued that the cancellation of the December 6, 2015 governorship election in Southern Ijaw rendered any other decision taken by INEC null and void.

He urged the court to reject the argument of the respondents that the appellants had waived their rights by participating in the January 9, 2016 re-scheduled election because the appellants indeed tendered a protest letter against the cancellation. Hon therefore urged the court

to grant the reliefs sought by his clients including the alternative reliefs. In his arguments against the appeal, counsel to Dickson, Tayo Oyetibo (SAN), said the appellants did not supply the results of the December 6, 2015 election but rather brought evidence

showing that they participated in the January 9, 2016 election. It was his contention that an election that did not produce result was no election, citing section 27 of the Electoral Act, 2011. Oyetibo further argued that before the tribunal, the

appellants did not produce evidence from polling units to prove allegations of electoral fraud and other forms of malpractices. In urging the court to dismiss the petition, the lawyer argued that the appellants also failed to prove allegations of electoral violence.

FCTA to Open Database for Arrested Beggars, Miscreants Wale Ajimotokan in Abuja The Federal Capital Territory Administration (FCTA) has announced plans to create a database for all arrested beggars and destitutes that are taken to the Vocational and Rehabilitation Centre, Kuchiko, in Bwari Area Council, Abuja. The FCT Minister, Muhammad Musa Bello, said the establishment of the database would avail the administration adequate information on those arrested as well as affording the government the opportunity to make adequate arrangement for repatriation. Bello made the announcement when he and the FCT Permanent Secretary, Dr. Babatope Ajakaiye, paid an unscheduled visit to the Vocational and Rehabilitation Centre. He also directed the FCT Social Development Secretariat to ensure that all those arrested are captured in the database for easy referencing. He instructed the Abuja Environmental Protection Board (AEPB) and the FCT Task Team

on Environment to after the arrest of beggars and destitute, assemble and register them before taking them to the vocational centre where the social development staff will officially receive and hand them over to the management of the Vocational and Rehabilitation Centre. The minister also directed the Vocational and Rehabilitation Centre headed by Bala Tsoho, to commence the process of repatriation of the beggars and destitute in earnest in line with the extant rules to their various states of origin where the social welfare officials in such states are to receive them officially. He seized the opportunity to inspect the new borehole dug for the Centre by the FCT Administration and further directed that overhead tanks be provided and installed for immediate use by the inmates. Tsoho said 145 new beggars and destitute were recently brought into the centre. He reiterated that the welfare of the inmates especially regular feeding has drastically improved since the minister came on board.

Buhari Should Stop Giving Bailouts to States, Says Lame Segun Awofadeji in Bauchi Former Minister of Police Affairs and 2015 governorship aspirant of the All Progressives Congress (APC) in Bauchi State, Dr. Ibrahim Yakubu Lame, has advised President Muhammadu Buhari to henceforth stop giving bailout funds to state governments but should utilise the money judiciously in executing projects in the states. Speaking in an interview with journalists in his Bauchi residence yesterday, the APC chieftain lamented that instead of using the bailout funds to settle outstanding salaries, the governors ‘divert the money’ to other purposes thereby inflicting hardship on civil servants as a result of irregular payment of their wages. According to him, the federal government should establish liaison offices in all the states of the federation so that it could directly carry out projects that would impact positively on the citizens rather than doling out such huge money to the governors whom he alleged pump half of it in their ‘security votes’. ‘’As a president, you are not supposed to give bailouts to states,

you are supposed to bail out the economy. Let the governors go and meet their campaign promises. They should look in ward and look for money. Because there was problem in the economy when he came in. So, what the president should have done was to look at which aspect of the economy he should revive,’’ he suggested. The ex-minister however expressed satisfaction with the performance of the Buhari administration within the last one year, particularly in the fight against the Boko Haram insurgency and corruption urging the citizens to give the government the needed support to be able to bring the change it promised. He also used the forum to debunk the insinuation that he quarrels with the incumbent governor of the state, Mohammed Abubakar pointing out that the recent visit he and members of the national assembly from the state paid to the president and APC national headquarters was due to the inability of the state chapter of the party to address their grudges against the governor and other anomalies in the party.

CELEBRATING WITH THE BOLORUNDUROS

R-L: Managing Director/CEO Maevis Nigeria Limited, Mr. Tunde Fagbemi and wife, Osun State Governor, Rauf Aregbesola, and the celebrant, Dr. Wale Bolorunduro, and his wife, Oladayo, during the 50th birthday celebration of Dr. Bolorunduro in Lagos....recently

N’Delta: Group Petitions Security Agencies, Alleges Plan to Disrupt Peace Emmanuel Addeh in Yenagoa A Niger Delta group, the Iduwini Volunteer Force, (IVF) yesterday petitioned the National Security Adviser, Maj. Gen Babagana Monguno (rtd), the Joint Task Force in the region headed by Rear Admiral Joseph Okojie, and the Office of the Inspector General of Police (IG), Mr. Ibrahim Kpotum, over an alleged plan to breach the peace in the oil-rich region. Specifically, the group accused Chief Alfred Bubor, Dr. Peter Ogedengbe, among others, of parading themselves as leaders of Host Communities of Nigeria (HOSCON), comprising oil-bearing areas in the Niger Delta. But in a reaction, Bubor denied knowledge of the group, noting that as far as he was concerned, no such group existed, while Ogedengbe accused the IVF of speaking for its masters, which he said intended to usurp the true leadership of HOSCON. In the petition signed by “Commander,” Johnson Biboye, the IVF said there was serious threat to the security of lives and property in the region which the persons intended to do by running down some leaders in the Niger Delta which would incense supporters of the affected leaders to react. “We write to respectfully draw your attention to a serious threat of security in the Niger Delta through the activities of the above named persons and group who have been parading themselves as leaders of oil and gas producing communities in the Niger Delta. “As a frontline Freedom Fighting Group in the Niger Delta which

has been involved in the peace process, we know for a fact that it is only HOSCON that has keyed into the peace process of the President Muhammadu Buhari administration in the Niger Delta and in our effort to ensure that peace and tranquility reign supreme in the oil rich region. “We have sadly discovered that the aforementioned persons under the leadership of one Chief Alfred Macaraba Bubor has directly and indirectly created a lot crisis and mayhem because of their selfish desire to ensure that the Niger Delta Crisis is not resolved amicably. “We have discovered a wellorchestrated plot by this same group to hold a meeting on September 15, 2016 at No. 11 Uti Street, off PTI Road, Effurun, Delta State,” IVF alleged. The group added: “From our findings, the said meeting has its agenda, plans to blackmail security forces, HOSCON leadership led by King Alfred Diete-Spiff for daring to advocate for peace in the Niger Delta without their selfish interest. “The meeting will amongst other things castigate the security handling of the Niger Delta crisis and possibly use the same medium to run down the newly appointed member Board of Trustee of the Ogoni clean up committee who coincidentally is the National Chairman of HOSCON in the person of Prince Mike Emuh. According to the group, there were also plans to recruit hooligans and miscreants to use the meeting as a launching pad to foment fresh trouble within the Niger Delta region. “We cannot afford to go through another round of crisis in the Niger

Delta region particularly in Warri, because of the selfish interest of some few individuals. “We, therefore implore you to use your good office to call the aforementioned persons to order and put a permanent hold on the purported meeting. A stitch in time saves nine,” it said. But in his reaction, Bubor said: “I don’t know them. I am

not aware of their existence. As I am talking to you now, I have travelled to the village.” When contacted, Ogedengbe said: “They are the ones who want to usurp the leadership of HOSCON. We already have a petition with the Commissioner of Police in Asaba. The SSS is also handling his case. I am only the state chairman. It’s the national body of HOSCON that is holding a meeting.”

Fire Guts Building, Kills Octogenarian in Lagos Chiemelie Ezeobi An early morning fire yesterday gutted a building at no 5 Aborishade Close, Lawanson area of Lagos, and burnt an octogenarian, Godwin Oyia to death. The fire incident, which was caused by a boiling ring, which was left unattended to, in the deceased’s room, was finally put out by emergency responders drawn from the state fire service and the Lagos State Emergency Management Agency (LASEMA). Confirming the incident, LASEMA General Manager, Mr. Michael Akindele, said the agency received a distress call and responded immediately. He said, “This prompted the activation of the agency’s Emergency Response Team (ERT) to the scene of the incident. “According to the investigation carried out by the agency’s ERT at the scene of the incident, it was discovered that a boiling ring, which was being used at the last room on the top floor led to the

outbreak of fire that engulfed the whole building. “Unfortunately, a man aged 80 years old identified as (Godwin oyia) lost his life to the inferno as he was burnt to death in the room where the fire started. “The whole of the top floor of the building was completely burnt down, however the downfloor was salvaged by the combined efforts of the agency’s ERT, the Nigeria Red cross and the Lagos State Fire Service (Isolo division, alausa division and Ilupeju division). “Others include the agency’s ERT, Nigerian Red Cross, Nigeria Police force (itire division) and Lagos State Fire Service (Isolo division, Alausa division and Ilupeju division). “The dead body was recovered by the Agency Emergency Response Team and handed over to the Nigeria Police Force. “Proper investigation would be conducted on the incident but Lagosians should ensure safety by switching off all electrical appliances when not in use at home or in the off.

WEDNESDAY SEPTEMBER 14, 2016 • T H I S D AY

CRIME&PUNISHMENT

Police Arrest 54 Suspected Militants in Edo To be arraigned in court today, says AG

Adibe Emenyonu in Benin City No fewer that 54 suspected militants from the Niger Delta have been reportedly arrested from different parts of Edo State in the past three days by a crack team of detectives from the police force headquarters in Abuja. Several AK-47 and pump actions guns and the sum of N9million were allegedly recovered from the militants who were said to have invaded Edo State from

neighbouring states with a view to causing mayhem in the last weekend’s governorship election which was postponed. It was learnt that ongoing covert operation which was ordered by the Inspector General of Police, Ibrahim Idris, following the discovery made by security agencies of plans to unleash mayhem by the suspected militants in Edo State, led to the postponement of the governorship election. Security sources reliably informed that the police detectives are being

assisted by the Intelligence Unit of the military hierarchy and the Department of State Services (DSS). The arrested militants who were said to have invaded the state through the riverine communities in the state, were arrested in a popular hotel in Benin City and Okada town. THISDAY also learnt that attempts by a top chieftain of one of the political parties to secure their release was rebuffed. While most of the suspected militants are being interrogated,

about 13 of them might be arraigned in court this week. It would be recalled that Governor Adams Oshiomhole of Edo State had raised an alarm over the alleged invasion of the state by militants with the a view to perpetrate violence during the elections. Reacting, the Edo State Attorney General and Commissioner for Justice, Henry Idahagbon, confirmed the arrest, saying that “some of them will be charged to court today.”

In Brief Police Nab Six Notorious Bandits in Enugu The Enugu State Police Command has arrested six notorious bandits who have been terrorising the residents of Uzo-Uwani Local Government Area of the state. The command’s spokesman, Mr. Ebere Amaraizu, told the News Agency of Nigeria (NAN) yesterday that items recovered from the bandits included locally made guns and two short axes. He said that other items recovered were television sets, DVDs, standing fans, six handsets suspected to have been stolen from their victims. Amaraizu said the gang was rounded up by the police following a tip-off from some members of the public. “The police operatives in Adani Division in the early hours of Saturday, September 10 nabbed six notorious armed bandits. “They have been terrorising the residents of Opanda, Nimbo and Adani communities in Uzo-Uwani Local Government Area of the state and its environs. “Suspects, name withheld, are helping the police in their investigations in relations to their alleged nefarious activities. “Their activities ranges from armed robbery and burglary among others,’’ he said. The police spokesman, however, said that the command had launched a manhunt on the remaining gang members. Meanwhile, the state Commissioner of Police, Mr. Emmanuel Ojukwu, has applauded the effort of his men and the synergy between the police and members of the community.

... Warn Criminals to Steer Clear of Anambra

The Anambra Police Command has warned criminals operating in Onitsha and its environs to leave the state or face the consequences. The Assistant Commissioner of Police (ACP) in charge of Onitsha Area Command, Mr. Abubakar Yahaya, gave the warning while speaking with journalists in Onitsha. Yahaya, who was newly deployed to the command, said the new operational order was to nab the criminals at their base of operation. “We have a new operational order for the ‘ember’ months which is to occupy all the black spots until the criminals relocate. “They must relocate to other areas or give up criminality,’’ Yahaya said. The area commander, who was formerly in charge of training in Kwara, said the police was employing community oriented policing as part of strategies to rid the state of criminality. “I am mindful of Onitsha and know the challenges inherent. There are areas of improvement to fortify the police achievements in security,’’ he said.

65 Policemen Arrested for Various Offences in Lagos

COURTESY VISIT

L-R: Regional Manager, North, Leadway Pensure Fund Administrator (LPPFA), Ibrahim Bonet; Executive Director, LPPFA, Olusakin Labeodan; Chief Press Secretary (CPS) to the Jigawa State Governor, Alhaji Sulaiman Musa Kiyawa; Branch Manager, LPPFA, Kano, Ali Ali, during LPPFA’s courtesy visit on the CPS...recently

Group Seeks Fair Trial for Detained Bayelsa Civil Servant Emmanuel Addeh in Yenagoa The Civil Liberties Organisation (CLO) yesterday called for a fair and transparent trial for Mr. Jonah Okah, a civil servant in Bayelsa State, who was remanded by a Magistrates’ Court for allegedly defaming the Government House Chief Accountant, Ritchie Etonye. Okah, the complainant had alleged, posted a non-existent conversation between him and Etonye, where he confirmed to him (Okah), that he was indeed involved in an alleged missing $4.6million, purportedly owned by the state Governor, Mr. Seriake Dickson. However, the Bayelsa State governor and the government have denied losing any money, noting that the allegation was a figment of Okah’s imagination. But in a statement yesterday, the state branch of CLO, led by Mr. James Nengi, noted that it had come to the knowledge of the organisation that politicians had started interfering with the case. “The attention of the Bayelsa State chapter of the CLO has been drawn to the arrest and prolonged detention of Okah at Okaka Prison. This is followed by a visit to Okah

at the Okaka Prison on September 13, 2016. “The case involves two civil servants, Okah, a State Counsel and Etonye, Government House Accountant on an issue of defamation of character and by its content a civil wrong. “Since the case became a public knowledge, the CLO has been following the matter with keen interest and we are constrained to draw the attention of the public, particularly the Nigerian Police Force on the following issues. “We are worried by the interference by some top politicians in Bayelsa State on the matter which border on two civil servants over an alleged defamatory Facebook publication,” the CLO leadership said. It added: “We appreciate the stand of government on the matter by disassociating itself from the allegation of aiding the arrest and continued detention of Mr. Jonah Okah in the Okaka Prison through its Commissioner for Information and Orientation. We hope that political appointees in government will desist from involving themselves in this matter as alleged by the general public. “We note that since the matter is in court at the moment, we are

therefore constrained to restrain ourselves to the findings and decision of the Magistrate Court, while we hope that the Court will give it an accelerated hearing; justice delayed is justice denied.” While warning that interfering in the matter would not serve the interest of justice, the CLO called on the media and other civil society groups to partner with the organisation to follow up the matter to a conclusion.

“Finally, we acknowledge that the judiciary is an independent body and the manifest interference by highly placed persons will be a threat to the due administration of justice. “It is in the light of the above, that we call on the state judiciary to take reasonable steps to resist undue meddling by top politicians of the state in the trial of Mr. Jonah Okah,” the group said.

Hard Times Drove Me into Stealing to Bury My Father, Suspect Explains Charles Onyekamuo in Awka Two armed robbery suspects paraded by the Diepartment of State Services (DSS) in Awka, Anambra State, yesterday blamed the hard times currently being faced by Nigerians as the motivation for delving into crime. One of the suspects, Uche Ezeugo, said he was forced into robbery to make some money to enable him give his father a befitting burial, adding that stealing is not in his lineage. “I’m not a natural thief. It’s this Buhari hard condition that led me

into this temptation,” he said. The suspects were arrested for allegedly stealing some laptops. His accomplice, Somadina, blamed his action on hunger and starvation. The two, in their 20s, from Aguluezechukwu in Aguata council area of the state, were apprehended by the DSS at Nanka in Orumba North Local Government Area of the state. While confessing to the crime, the suspects said it was their first time and pleaded for leniency, promising to desist from such acts in the future.

The Lagos State Commissioner of Police, Mr Fatai Owoseni has said no fewer than 65 police personnel have been arrested for various offences in the last one month. Owoseni told the News Agency of Nigeria (NAN) in Lagos that the arrests were made in different parts of the state by the Anti-Extortionist Squad in the command. The Lagos police boss said the action was in compliance with the directive of the Inspector-General of Police (IG) on zero tolerance to corruption and unprofessional conduct in the force. Owoseni said the squad arrested 33 persons as at August 8, 12 more as at August 24, and another 20 by September 8. “Some of them have been recommended for dismissal; some to be demoted in ranks. Those involved in unlawful killing have been charged to court for murder. “Some others are undergoing departmental orderly room trials. There is no place for corrupt and unprofessional police in Lagos command,” he said. As part of efforts to ensure that officers in Lagos keep to the ethics of the force, Owoseni said he embarked on re-orentation and retraining. He said 75 constables had undergone training in arms handling at the Ikeja Police College, in a move to check accidental discharge.

Sallah: FRSC Convicts 45 Motorists in Kaduna

The Kaduna State Command of the Federal Road Safety Corps (FRSC) has said it secured 45 convictions of motorists for various traffic offences in Kaduna. The command’s Legal Officer, Mr. Ibrahim Tanko, made the disclosure in interview with News Agency of Nigeria (NAN). He said the motorists were convicted via a mobile court during Sallah and ember months’ operations, which commenced on September 7. Tanko said 19 of the offenders were convicted for Drivers’ Licence violations six for seat belt and two for driving with forged documents. He said six others were convicted for passengers manifest violation and 11 for windscreen violation, while the others were convicted for vehicle licence violation, road obstruction and use of phone while driving. The FRSC had on September 7 commenced a special Sallah and ember months’ patrol to ensure zero accident across Kaduna State. The Corps Marshal, Mr. Boboye Oyeyemi, announced the deployment of 406 marshals, six ambulances, 30 patrol vehicles and 400 special marshals for the operation in the state. Oyeyemi, who was represented by the Corps Auditor, FRSC Headquarters, Abuja, Malam Shehu Mohammed, said that the measures became necessary to curb the incessant road crashes often recorded during ember months and Sallah celebrations. “There is usually high vehicular movement on our roads during ember months with increased movement of people for festivals throughout the length and breadth of the country. “Also, Sallah is just around the corner and people have already started preparations to travel and as such, there is need for the operation to sensitise motorists on safety measures on the highway,’’ he said.

T H I S D AY •WEDNESDAY SEPTEMBER 14, 2016

WEDNESDAYSPORTS

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

Onazi Attacked by Robbers, Loses Car to Hoodlums

Seriki Adinoyi in Jos

Pa Wilson Obande Onazi, father of Super Eagles player, Ogenyi Onazi, narrowly escaped death on Monday when armed men raided his house, carting away his Sport Utility Van (SUV) and other valuables. THISDAY gathered that four armed men, all masked had, at about 1.30 pm on Monday invaded the home of the Onazi’s located at Utan area of Jos North local government Area of Plateau state holding him and some members of his family hostage. Though no member of his family was hurt, the robbers reportedly succeeded in getting away with the Toyota Highlander SUV and other valuables. Police Public Relations Officer, ASP Terna Tyopev, who confirmed the incident to our correspondent in Jos yesterday, said that immediately the incident was reported, policemen were posted to the house to reassure them of safety. Tyopev said, “The divisional crime officer personally led detectives to the house”, adding that the area is now calm

and investigations have commenced on the crime. In a related develpoment, Africanfootball.com spoke with Onazi from his base in Turkey and reported that the was obviously shaken by the incident. He said that the bandits pretended to be courier men with a letter to be delivered to his father. “Those robbers came, pretending they were there to deliver a letter to my dad at about 1.40pm on Monday(yesterday), as soon as he collected their fake letter and asked where it was coming from they swooped on him, tied his hands, beat him up, inflicting machete cuts on him in the process,” he recounted. “They told him this is the first in a series of attacks that they will launch on our house and that I( Onazi) will be their target the next time.” “They took their time to take some valuable materials including car and some cash but I am thankful to God they didn’t do more than that,” Onazi added. Onazi’s dad has also been discharged from hospital where he was treated for the injuries inflicted on him during the ordeal.

Onazi

Elegbeleye Hails Rohr Debunks Rejection of Accommodation Claim ‘Brilliant’ Paralympians Keno Edhowo

Olawale Ajimotokan in Abuja Former Director General National Sports Commission (NSC) Otunba Gbenga Elegbeleye has heaped plaudits on the Nigerian team at the on going Paralympic Games in Rio, Brazil. In stack contrast to the spineless outing at the Olympics also in Rio last month, the contingent of special athletes has fetched six gold, two silver and one bronze medals to stay in 10th place at the Paralympic Games. Elegbeleye said the performance was not a flash in the pan especially in the powerlifting event where Nigeria is ranked as the best country in the world. “The Paralympians have always excelled when the

YESTERDAY’S RESULTS

regular athletes fail Nigeria in the Olympics. To me it is not a new thing because I know they will do well. They have always been doing well. At the Paralympics in London in 2012, they won at least about four gold medals,’’ Elegbeleye said. He urged those in authority to fete the paralympians after the Games, saying the athletes deserved to be appreciated for doing so well at the world stage. He also attributed poor preparations as the reason behind Nigeria’s under achievement at Rio 2016. Elegbeleye, who supervised Team Nigeria to the Commonwealth Games in Glasgow, Scotland, fingered lack of continuity of programmes set out to bring out the best in the athletes in their various sports as cause of the failure at Olympics.

TODAY’S FIXTURES

Man City Vs M’gladbach(PP) FC Basel 1-1 Ludogorets P S G 1-1 Arsenal Benfica 1-1 Besiktas

Leverkusen Vs CSKA Moscow Club Brugge Vs Leicester City FC Porto Vs FC København Juventus Vs Sevilla

PSV 0 - 1 Atlético FC Bayern 5-0 Rostov Barcelona 7-0 Celtic

Legia Warsaw Vs B’ Dortmund Lyon Vs Dinamo Zagreb Real Madrid Vs Sporting Lisbon

Dynamo 1-2 Napoli

Tottenham Vs Monaco

Super Eagles’ Technical Adviser, Gernot Rohr, has reacted to news making the rounds that he rejected the accommodation given to him by the Nigeria Football Federation (NFF), for his stay in Nigeria. Rohr, who managed the senior national team for the first time in a 1-0 home win against Tanzania earlier this month expressed displeasure

at the way people are using his openness and easy accessibility to quote him out of context and attempt to derail him from the core assignment he has at hand. “I never rejected any apartment,” he said. “I might have spoken to a few people who I believed to be genuinely interested in me, saying that the apartment was very big and I joked that I might get lost inside it when I start to live there, but I never rejected

it.

“When the Federation engaged me, and told me I had to live in Nigeria, I agreed to it because I believed that my base has to be in the country where I work. I did the same in Niger, Burkina Faso and Gabon, and I do not see it any differently in Nigeria,” Rohr added in a statement. The Franco-German stated further: “The Federation moved to rent an apartment

for me, and this is a good gesture that shows their commitment. If I have issues with it, it should be done directly through the Federation and not on the pages of the media.” Rohr decried the habit of people trying to get close and then twisting his comments in order to make press news, and cautioned that it would not augur well for media relations if he has to close up in fear of being misquoted.

Alafin Boxing Tourney Debuts in Oyo UPDC Squash Tourney Holds Sept. 16 The ancient city of Oyo will shake to its foundation next month as the maiden “Alafin of Oyo United Boxing Championship” holds from October 7th to 15th, 2016 at the Oyo Township Stadium. The boxing tournament is being put together by the Universal Boxing Council, UBC Super Middleweight Championship, Mojeed Okedara. According to Okedara, the decision of his company, Mojifrican Global Events Management, to accept promotion of the forthcoming Alaafin of Oyo boxing championship was to give a befitting 78th birthday celebration to the foremost Royal Father, Oba Lamidi Olayiwola Adeyemi who has dedicated his life to the promotion of boxing in the country.

The U S A based boxer stated that the nine-day tournament will not only help promote the sports and give opportunity to Nigerian boxers to fight for honours but will help in upholding the tradition, culture and unity of Nigeria. “We are organising the championship in celebration of a royal father who has dedicated all his life in promoting boxing and he has even promised to enter the ring that day and face a yet to be named opponent whom he intends to beat, to enable him cut a memorable birthday cake” Okedara said. Boxers from different states including Oyo, Edo, Delta, Osun, Kwara, Ogun, Lagos, Ekiti and Ondo state will be aiming to win some of the belts and trophies lined up for the championship.

The maiden edition of UACN Property Development Company (UPDC) squash series jointly organized by UPDC and O’Trafford Squash Club holds on Friday 16th to Saturday 17th September, 2016 in Lagos. The tournament sponsored by UPDC and aimed at promoting a healthy lifestyle among players and developing the game in Nigeria, will serve off at the prestigious Golden Tulip FESTAC, Lagos, which has two world standard ASB squash courts. The series is divided into ‘UPDC Invitational Closed Squash Championship’, which is open to members of the invited clubs and the ‘UPDC National Closed Championship’ that is open to top 16 ranked male &

top 8 ranked female national players. Seven invited clubs are participating and they are: Ikoyi Club, Lagos Country Club, Apapa Club, Lagos Lawn Tennis Club, Eagle Club, FESTAC Club and of course OTrafford Squash Club, one of the organizers. The ‘UPDC National Closed Championship’ serves off on Friday September 16th at 12noon prompt with the opening ceremony slated for the following day being Saturday by 12 noon also. The games in the ‘UPDC Invitational Closed Squash Championship’ commences immediately afterwards with the finals of both championships to be played later in the evening preceding the closing ceremony.

T H I S D AY â&#x20AC;¢ WEDNESDAY, SEPTEMBER 14, 2016

Wednesday September 14, 2016

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CBN to Banks

”We will soon start monitoring the banks because almost all the banks have given us statistics of what they claim they have returned to their customers. The system should be automated such that whether a customer complains or not, when there is a partial dispense or non-dispense, such customer’s account should be refunded and if it is not refunded, then they stand liable” – The Central Bank of Nigeria (CBN) warning banks which don’t ensure that dispense errors are automatically reversed and the account of the customer credited will be sanctioned.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

On the Origins of Change

“Ebi kìí wonu kórò míì wobè (It is pointless preaching to an hungry man) – A Yoruba Saying It is not the consciousness of men that determines their existence but their social existence that determines their consciousness – Karl Marx in his preface to A Contribution to the Critique of Political Economy

t is, perhaps, safe to assume that the consultants to Information Minister Lai Mohammed must have dug a bit into history before framing the latest campaign: Change Begins with Me. If they did they must have found out why past campaigns of national mobilisation hardly worked and slogans of national orientation soon became unsustainable. The nation’s socio-political history is replete with campaigns, slogans and rhetoric of change to better ways. It is 46 years that the last shot was fired in a tragic civil war with the following slogan from federal side: “To Keep Nigeria One is a Task that Must be Done.” Today the separatist impulse is prevalent more than ever before in parts of the country. Ethnic and regional champions are fundamentally questioning the structure of the federation. Underlying issues of injustice and underdevelopment have been eclipsed by worsening insecurity in the Niger Delta. So the simple lesson of history is this: mere slogans are not enough to keep a nation united. Material conditions need to be created and structural tasks have to be performed to achieve the desirable goal of unity. The same point could be made of subsequent campaigns and slogans. During the Second Republic, the government of President Shehu Shagari proclaimed an “ethical revolution”. The military regime of Major-General Muhammadu Buhari launched the War Against Indiscipline (WAI) 32 years ago. Mass Mobilisation for Self Reliance, Social Justice, and Economic Recovery (MAMSER) was established by the military administration of President Ibrahim Babangida in the liberal bid to recast the Nigerian political economy. There was also the less remarkable “Not in Our Character” campaign of the regime of the maximum ruler, General Sani Abacha. The feeble attempt by President Olusegun Obasanjo’s administration to promote Nigeria as the “Heart of Africa” was, perhaps, the most recent attempt to experiment with national character and orientation. The basic flaw of these efforts at forging national orientation was the mismatch of the objective and subjective factors of change. You don’t change a society by merely moralising (worse still with a tinge of hypocrisy); you have to do something about the social structure. Different factions of the ruling class in power have been separating the moral question from its material basis. And they expected a “revolution” or “reform” to happen. They have been reveling in optical illusion. This, of course, should not be a surprise. Successive occupants of political offices in Nigeria have never been dialectical in thoughts and action. Hence their campaigns have suffered from the limitations of superficial bourgeois solutions to deeply structural social problems. That is why a sociological critique of WAI could be reformulated to examine the present Change Begins With Me. For instance,

Mohammed in a 1984 newspaper article entitled “On the Theory of WAI,” this reporter questioned the material basis of that moral war. For instance, it was posited that without well-managed public toilets soldiers wielding whips would not be a definitive solution to the problem people urinating carelessly on the road. The same argument could be summoned to query the new campaign. At least, Buhari promised to keep the nation secure, revive the economy and tackle corruption. The grim statistics issuing from official sources suggest that the condition of the poor majority is getting worse. In fact, Buhari himself has used the word “doldrums” in talking about the economic situation. That is even scarier than to talk of a recession! This is, therefore, not a suitable context for the leadership to be passing the buck of change to the people. For instance, change does not begin with a young graduate that has been unemployed for years. Change should begin with a leadership that promised change by displaying a greater competence in economic management for the purpose of job-creation. You don’t expect change to begin with the hapless head of a family who watches as his children go to bed without dinner. It is more meaningful to expect the change to begin with the agricultural “roadmap” of government actually leading to food security. It would be more difficult to mobilise a man on empty stomach for change. It is the responsibility of government to create the conditions for socio-economic actors to operate in their legitimate quest to meet their needs. Change cannot begin with a people

The change should begin with those who elected to lead the people on the path of progress. There should be no ideological buck-passing in this process

with increasingly limited access to basic needs such as food, water, healthcare, basic education and decent housing. The leadership preaching change would rather find a better audience in a people that could take basic needs for granted. To be sure, the debate is not about the imperative of change in the Nigerian condition. The unanswered question is about how the change should originate in the present socioeconomic and political context. Individual citizens are not expected to be part of the change as isolated biological specimens. The expectation of the change of the individual is in a social context. In this wise, the individual is expected to play a role in the change process as a member of a national community. Some commentators on the Change Begins With Me have referred to the famous quotation from the 1961 Inaugural Address of President John Kennedy in the United States. Kennedy said inter alia: “…ask not what your country can do for you, ask what you can do for your country.” Again, Kennedy is often quoted out of context. He was speaking to a post - War II American nation in which members the baby boom generation were becoming teenagers. America provided that generation with a basis to look at the future with robust optimism. The American

teenagers of 1961 had a material basis to look forward to adulthood with decent jobs and just wages; retirement plans and basic needs of food, water and housing could be taken for granted. And that was eventually happened. Kennedy was speaking to an America that could go to war because of the security of a citizen. The country had already done something for the citizens before Kennedy asked the citizens what they could do for their country. Contrast the American teenagers of the Kennedy days with the Nigerian teenagers of today in terms of the material basis for hope. The typical Nigerian teenager is not assured of quality public education and primary healthcare. The generation before him graduated into joblessness. Here we are talking of the generation that constitutes the majority of the population. This is the generation that ought to be a sure target of the campaign for national rebirth. But the job would be made more difficult because the nation has abysmally failed members of that generation on all counts. All told, what should be the origin of this promised change? The first step is to give the direction of the change. Now that is squarely a function of leadership. So, the change should begin with those who elected to lead the people on the path of progress. There should be no ideological buck-passing in this process.

POLITICAL CALCULATIONS: GOVERNORSHIP PRIMARY ELECTION

SIR, WE ARE NOT SUPPOSED TO CONCEDE DEFEAT JUST LIKE THAT! IT’S THE POST-ELECTION CUSTOM FOR LOSERS TO PROTEST, PARTICULARLY IF….!

DON’T GET ME WRONG, SIR! I KNOW THE ELECTION WAS FREE AND FAIR BUT THERE ARE OTHER CONSIDERATIONS… !

WELL, CONSIDER THIS, SIR!....OUR ACCOUNTANTS HAVE JUST TALLIED THE FIGURES! AT THE LAST COUNT, WE HAVE SPENT N880M! IT’S ALL HERE!

….TOO LATE! I’VE ALREADY CONGRATULATED THE WINNER AND EMBRACED HIM PUBLICLY AND EVEN COMMENDED THE ELECTION COMMITTEE FOR A JOB WELL DONE!

…FORGET IT! THE BEST MAN WON! AFTER ALL, I HEAR HE BLEW OVER N1.5BN AGAINST OUR PALTRY N400M!

THAT’S A LOT OF MONEY TO LET GO! QUICK, ...CALL OUR LAWYERS! LET THEM MAKE SOME NOISE ABOUT OUR INTENTION TO CHALLENGE THE RESULT! …HOPEFULLY, THE WINNER WILL APPROACH US FOR SETTLEMENT!

14-09-16

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