Wednesday 5th October 2016 by THISDAY Newspapers Ltd

Hilton Signs Agreement on 350-room Hotel at Lagos Airport Bennett Oghifo Hilton Worldwide has announced the signing of a management agreement with a Nigerian firm, Quality Inspection & Testing Services Limited (QUITS), to open a

350-guestroom and suite hotel at Lagos’ Murtala Muhammed International Airport, Nigeria. The agreement, which was signed at AHIF 2016 in Rwanda, is set to open in 2023 and joins Hilton’s growing African portfolio

of more than 80 properties trading or in the development pipeline, which will see Hilton more than double its presence across Africa in the next three to five years, said the hotel group in a statement yesterday.

“With a population of more than 16 million, Lagos is the seventh-fastest growing city in the world and the second largest in Africa, with much of the nation’s wealth and economic activities concentrated here,” said

Patrick Fitzgibbon, Senior Vice-President, Development, EMEA, Hilton Worldwide. “Strong growth is forecast for both domestic and international travellers using Murtala Muhammed International Airport, so

this exemplary new hotel will be well placed to meet traveller’s needs, offering an unparalleled level of design, comfort and service,” he added. Continued on page 8

FG Accuses Shell of Crude Oil Theft, Demands $406m… Page 8 Wednesday 5 October, 2016 Vol 21. No 7833. Price: N250

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WEDNESDAY octobEr 5, 2016 • T H I S D AY

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FG Accuses Shell of Crude Oil Theft, Demands $406m Ejiofor Alike with agency report

The federal government is demanding $406.75 million at the minimum from the Shell Petroleum Development Company (SPDC) and its surrogate Shell Western Supply & Trading Limited for alleged crude oil theft. The amount, according to court papers in Lagos, represents the shortfall of the money paid by the multinational oil firm in the account of the Nigerian government with Central Bank of Nigeria (CBN), for crude oil lifted in 2013 and 2014, reported the News Agency of Nigeria (NAN) yesterday. The federal government's legal team led by Professor Fabian Ajogwu accused the Anglo-Dutch oil multinational of not declaring or underdeclaring crude oil shipments during the period, following a forensic analysis of bills of lading and shipping documents. Ajogwu, armed with sworn affidavits of three U.S.-based

professionals, claimed that Shell cheated Nigeria of the revenue. The three professionals employed by the federal government are: Professor David Olowokere, a U.S. citizen who is the lead analyst at Loumos Group LLC, a technology and oil and gas auditing firm based in U.S.; and Mr. Jerome Stanley, a counsel in the law firm of Henchy & Hackenberg, a law firm based in U.S. and head of the legal team engaged by Loumo Group LLC. The third professional is Mr. Micheal Kanko a citizen of the U.S. and resident of the state of Arizona, who is the founder and current chief executive of Trade Data services Company. The experts were able to track the global movements of the country’s hydrocarbons, including crude oil and gas, with the main purpose of identifying the companies engaged in the practices that led to missing revenues from crude oil and gas export sales to different parts of the world. In reconciling the export records from Nigeria, with the

import records at ports in the United States of America, the experts found mind-boggling discrepancies. The Nigerian government averred, for instance, that on the 6th of January 2013, the defendants lifted crude oil using the vessel AUTHENTIC and shipped same to BP Oil Supply of 28301 Ferry Road, Warrenville, Illinois, USA at the port of Chester, Pennsylvania, United States of America. The shipment had the bill of lading number ALMYSVDM161212A3. This particular shipment, the experts unearthed, was not declared to the relevant authorities in Nigeria, resulting in a shortfall of 660,712 barrels of crude oil in the value of $72,678,320 as revenue to the Government of Nigeria. On the 3rd of January 2013, Shell and its surrogate company lifted crude oil that resulted in a shortfall of 979,031 barrels in the value of $107,693,410. On the 14th of December 2014, Shell also lifted crude oil using the vessel EAGLE

TUSCON and shipped same to Shell Deer Park of 5900 Texas 225, Deer Park, TX77536, USA at the port of Houston, Texas, United States of America, with bill of lading number AETK0909US14. The shipment was not declared to the relevant authorities, resulting in a shortfall of 499,048 barrels of crude oil in the value of $54,895,280 as revenue to the Nigerian Government. Shell, with its allied company, was also alleged at three different times to have shipped crude on board EAGLE TUSCON, EAGLE SEVILLE and OVERSEAS EVERGLADES that resulted in a shortfall of 3,697,737 barrels of crude oil, bringing the total value of the shortfall to $406,751,070. Last January, the federal government, through its legal representative wrote a letter to the defendants drawing their attention to the discrepancies. It asked them to clarify the discrepancies with documentation as a prelude to the repayment of the revenue

Why Buhari Ordered Sale of Two Presidential Aircraft

FG to propose N6.87tn budget in 2017, projects $42.5 oil benchmark Govt on roadshow to promote $1bn Eurobond IMF: Nigeria’s recession will end in 2017 Our Correspondents with agency reports In fulfillment of one of his campaign promises to cut cost, President Muhammadu Buhari has approved the disposal of two of the aircraft operated by the Presidential Air Fleet (PAF) of the Nigerian Air Force (NAF). The presidency, through the Office of the National Security Adviser (ONSA), advertised the sale of two aircraft in THISDAY newspaper yesterday. According to the advert, the two aircraft to be disposed off comprise a Falcon 7X executive jet and Hawker 4000. The airplanes, however, are just two of well over a dozen aircraft believed to be in the PAF. ONSA, in the advert, said all bids should be quoted in US dollars and invited interested buyers are to inspect the Falcon at the presidential wing of the Nnamdi Azikiwe International, Airport, Abuja, while the Hawker aircraft is to be inspected at the Cessna Zurich Citation Service Centre in Zurich, Switzerland. Interested buyers were given four weeks from yesterday to submit their bids for the two aircraft. The Falcon 7X has a registration number, 5N-FGU and serial number 090. It

has a passenger capacity for 16 persons and three crew members. Its highlights include: Entry of service (2011); one owner; time of service: 2,776:47 hours; cycles since purchase: 2363; engine completed HSI in May 2016; engine time to overhaul is 4,529hrs: and ready for sale immediately. The Hawker 4000 aircraft has a registration number 5N-FGX and serial number RC 066. It has a passenger capacity of nine persons, three crew, and highlights of service entry was in 2012; 1,178:15hrs since time of service; 1,146hours cycles; engine time overhaul is 4,821hours; and is ready for sale immediately. In a statement yesterday by the president’s media aide, Mallam Garba Shehu, the presidency confirmed that the newspaper advertisement in THISDAY for the sale of two presidential aircraft was duly authorised by Buhari. According to him, the decision was in line with the directive by Buhari that aircraft in the presidential air fleet be reduced to cut waste. Shehu further said that when Buhari campaigned as the All Progressives Congress (APC) candidate before the 2015 presidential election, he promised to look into the presidential air fleet with a view to cutting down on waste.

He explained that Buhari’s directive to a government committee given this assignment was that he would like to see a compact and reliable aircraft fleet for the safe airlift of the president, vice-president and other government officials on special missions. While disclosing that the exercise was by no means complete, Shehu added that some other aircraft in the presidential fleet would be handed over to the Nigerian Air Force to boost its operations. THISDAY had exclusively reported last year of plans by the presidency to sell some of the aircraft in the presidential air fleet as part of the government’s cost cutting measures. However, after pressure was brought to bear, the presidency denied the story and deferred plans to sell some of the aircraft. Insider sources had informed THISDAY that the presidency has a number of serviceable and unserviceable aircraft that needed to be disposed off in order to reduce the amount spent by the federal government on aircraft maintenance annually. Although information on the exact size of the fleet is treated as classified information, the fleet, according to aviation

sources, is believed to comprise 11 to 16 aircraft, chief of which is the Boeing 738 BBJ, NAF 001 or Eagle One, used by the president for his travels. With its luxury configuration comprising a master bedroom, washrooms and showers, a conference and dinning area, and a living area, the plane seats 25 to 50 passengers and would cost at least $100 million to replace today. THISDAY gathered that about eight of the planes are reserved strictly for the president. Others are reserved for executive airlift. The aircraft reserved for executive airlift are used by the Vice-President, Senate President, Speaker of the House of Representatives, Ministry of Foreign Affairs, and could be used to convey African heads of states visiting or departing Nigeria.

FG Proposes N6.87tn Budget However, as the administration seeks to implement cost cutting measures and raise revenue to ward off the recession, the president yesterday submitted its Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) for 2017 to 2019 Continued on page 9

and debt they now owe the government. To date, the federal government has not received any payment from the defendants, pursuant to the said letter, nor the requested documents. The federal government averred that it had suffered huge and enormous financial losses as a result of the defendants’ under-declaration of the value of the crude oil they lifted and exported to the U.S. It is now seeking a court order compelling the two companies to pay into the Federal Government of Nigeria account with the CBN, the sum of USD 406,751,070, being the total value of the missing revenue from the shortfall/undeclared/underdeclared crude oil shipments of the country, made by the

companies to U.S. The government is also demanding interest payment at 21 per cent per annum on the sum of $406,751,070 until the entire sum is liquidated. Shell, in addition, is being asked to pay general exemplary damages in the sum of $406,751,070 and the cost of instituting the legal action. The presiding judge, Mojisola Olatoregun Isola has adjourned till October 20, 2016 for mention of the case. Nigeria has also sued Chevron, Total and Agip asking for a total of $12.7 billion for alleged non-declaration of some 57 million barrels of crude shipped to the U.S. between 2011 and 2014. The oil firms are among up to 15 oil majors targeted by the Nigerian government for the recovery of $17 billion in deprived revenue.

HILTON SIGNS AGREEMENT ON 350-ROOM HOTEL AT LAGOS AIRPORT The hotel will be situated within close proximity to Ikeja, the capital of Lagos State, as well as the passenger terminals at Murtala Muhammed International Airport, which services travellers flying to hundreds of destinations around the world. Mr. Sam Iwuajoku, Chairman and CEO of QUITS, said: “The signing of the agreement to open Hilton Lagos Airport is testament to a period of exciting growth and development for Lagos. “Our plans to build an exceptional hotel at the international airport will revolutionise the traveller experience and also offer a state-of-the-art choice for conferences, meetings and events. “We look forward to a very successful collaboration with Hilton Worldwide on this outstanding development.” Hilton Lagos Airport will comprise 350 guestrooms, of which 72 are suites, an executive floor and multiple food and beverage outlets, including a restaurant serving international cuisine; a specialty restaurant; a fashionable rooftop cocktail bar; and a hip night club. An elevated pool deck, with lavish gardens and a striking horizon pool overhanging the side of the property will provide breathtaking views of the surroundings and a unique leisure experience for the airport property. The hotel will also feature a spa and fitness centre. According to the statement, business travellers and event planners will benefit from a wide choice of professional facilities across the 2,600sqm event space, including a 1,350sqm ballroom and 500sqm junior ballroom. “Hilton Lagos Airport will further solidify our presence in Nigeria and be a great asset to our Hilton Hotels and Resorts properties trading or under

development in Africa,” said Jim Holthouser, Executive Vice-President, Global Brands, Hilton. “We have great confidence in this growing market and are proud to be pioneering exemplary guest experiences across the continent with our range of Hilton brands.” Hilton is set to more than double its presence in Africa in the next three to five years to more than 80 hotels and is focused on further development prospects across the continent, entering new countries while also growing in areas with an existing Hilton presence. This signing is in addition to the recent signing of Legend Hotel Lagos Airport, Curio Collection by Hilton, also with QUITS, with an additional 76 guest rooms to be added, bringing the room count up to 130 keys. These properties represent the two most recent hotels signed at Lagos Airport at the same time. The Curio Hotel, due to open in 2017, will be the first within the airport environment giving guests and airline passengers alike unrivalled ease of access to the airport’s facilities.

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T H I S D AY • WEDNESDAY OCTOBER 5, 2016

PAGE NINE

Police Confirm Kidnap of Former Minister, Husband, Others in Kaduna John Shiklam in Kaduna The Kaduna State Police Command yesterday confirmed the kidnapping of a former Minister of Environment, Mrs. Laurentia Laraba Mallam, and her husband, Pius, among several other persons. The command’s spokesman, Aliyu Usman, an Assistant Superintendent of Police (ASP), said in Kaduna that they were abducted along Bwari/Jere axis on the Kaduna-Abuja highway on Monday evening. Usman said that the abductors took away the former minister and her 73-year-old husband, but spared their driver who was unharmed. He said that the police were tracking the perpetrators and would ensure the release of the victims unharmed.

Sources also indicated that the abductors had reached out to the minister’s family demanding ransom. The command’s spokesman, however, said the police was not aware of any demand by the abductors. “All what we are doing is to ensure that the victims are freed from captivity and returned to their home unhurt,” Usman said. A former member of the House of Representatives, who narrowly escaped the kidnapping, told THISDAY that the abductors whom he alleged were Fulani herdsmen were armed with guns and dangerous weapons. He said the kidnappers, who were many in number, had mounted a roadblock on the expressway in Kagarko Local Government Area of Kaduna State, preventing commuters going to Abuja

and Kaduna from passing. The former lawmaker, who did not want to be named, said: “Initially we thought they were armed robbers because they mounted a road block and stopped cars that were either going to Abuja or coming to Kaduna. “I attended a wedding in Kaduna with my family and we were going back to Abuja when we ran into them. They were many and they were shooting sporadically. “They went from car to car selecting their victims into a waiting vehicle. They will look at your car then they will drag you out to their vehicle.” He said the operation lasted for about 20 minutes, after which the kidnappers zoomed off with their victims to an untarred road leading to the bush. According to him, the minister and her husband

were among several persons that were picked by the bandits. “Fulani herdsmen are the ones that have been kidnapping people along the Abuja-Kaduna Road,” he alleged. He regretted that despite the deployment of policemen along the Abuja-Kaduna Road, the rate of kidnapping along the road remained on the rise and called on the authorities to act promptly before the situation gets out of hand. Sources close to the minister’s family said the kidnappers had called to demand for N10 million as ransom for the couple’s release. Scores of relations and associates of the minister were seen yesterday trooping to her Narayi high-cost residence in Kaduna to sympathise with the family.

Mallam

WHY BUHARI ORDERED SALE OF TWO PRESIDENTIAL AIRCRAFT to the National Assembly, in which it proposed a N6.866 trillion budget for the 2017 fiscal year. It also proposed an oil benchmark of $42.50, average exchange rate of N290.00 to $1, and oil production volume of 2.2 million barrel per day (mbpd) for 2017. In the document, the federal government also projected N6.847 trillion and N7.117 trillion budgets for 2018 and 2019, respectively, and $45 per barrel and $50 per barrel oil benchmarks for 2018 and 2019. The government is also proposing 2.3mbpd and 2.4mbpd oil production volumes for 2018 and 2019, respectively, just as it projected an average exchange rate of N290.00 to $1 exchange rate for both years. The proposed N6.866 trillion budget for 2017 is higher than the N6.060 trillion budget for the 2016 fiscal year, but the government set a revenue target of N4.169 trillion in 2017. The government plans to generate revenue from the following sources: share of oil revenue - N1.3 trillion; share of dividends from Nigeria Liquefied and Natural Gas (NLNG) - N14.111 billion; mineral and mining - N1.064 trillion; non-oil revenue N1.508 trillion; company income tax - N902.8 billion; value added tax - N282.2 billion; customs - N277.5 billion; and government share from Federation Account N45.9 billion. Other projected sources for funding the budget are N1.207 trillion independent revenue; N6.549 billion as government share of actual balance in special accounts; N9.086 billion as the federal government's balances in special levies accounts; and N50 billion unspent balance from the previous fiscal year. Of the N6.866 trillion proposed for 2017, the

government hopes to spend N1.765 trillion as capital expenditure, N2.563 trillion on recurrent (non-debt expenditure), and N1.639 trillion for debt service. Also, N350,000 billion has been budgeted for the recurrent Social Intervention Programme in 2017. The government explained that whereas Nigeria’s total debt profile stood at N16.3 trillion as of June 2016, N3.19 trillion of the figure was external debt while N13.11 trillion was domestic, adding that the federal government owes 74.6 per cent of the debt stock while 25.4 per cent is owed by the 36 states of the federation. In the MTEF, it said the inflation rate stood at 16.5 per cent in June 2016, noting that the increase was caused by the movement in price levels. It also said the unemployment rate increased from 10.4 per cent in the last quarter of 2015 to 12.1 per cent in the first quarter of 2016, adding that the level of under-employment rose from 18.7 per cent in the last quarter of 2015 to 19.1 per cent in the first quarter of 2016. The government also projected the gross domestic product (GDP) to grow at 3.02 per cent in 2017 while inflation is expected to decline to 12.9 per cent during the fiscal year. “Also, consumption is projected to increase to N8.05 trillion. This growth will be supported by the envisaged improvement in the implementation of the capital budget and efficiency of funds utilisation to support domestic demand during the period,” the document said. On macro-economic stability, the government said it plans to formulate policies aimed at guaranteeing formidable macro-economic stability capable of

withstanding “external and domestic shocks”. These policies, it said, would stimulate domestic production with the overall intention of securing investors’ confidence by creating a conducive business environment, productivity and inclusive growth. It added that the budget would yet be built on the zerobased budgeting (ZBB) system introduced in 2016 but with a caveat that the budgeting process in 2017 would “be automated to minimise human interface and address other glitches experienced in the implementation of the first ZBB”. The government also revealed that of the N6.060 trillion budget approved by the National Assembly for 2016, only N2.419.38 trillion had so far been spent as of June as recurrent and capital expenditure “with the shortfall in revenue inflow being made up by additional financing from borrowing and other sources”. It also disclosed that N1.479.56 trillion had been released from the budget for recurrent expenditure for the payment of salaries, pensions and overheads which the federal government said was a little bit higher than the N1.323.19 trillion prorated for January to June. It further added that as of July 18, 2016, only N331.58 billion had been released for the execution of critical infrastructure projects. The federal government also disclosed that of the projected N3.855.74 trillion revenue target in 2016, only N951.52 billion had been retained by the government as of June, a figure it said was less than 50.6 per cent of the prorated projection. The federal government said it predicated the shortfall on under-performance of non-oil sources, adding

that independent revenue and the federal government’s share of company income tax (CIT) collections were less than the N646.32 billion and N271.76 billion projected, respectively. The government promised to improve revenue mobilisation from the non-oil sector in 2016, promote transparency and accountability, pursue sustainable debt management, intensify economic diversification, enhance infrastructure for increased productivity and development, improve governance, and pursue a social development programme.

Govt Promotes $1bn Eurobond In a related development, the Debt Management Office (DMO) has launched a oneweek roadshow to Britain and the United States to promote a planned $1 billion Eurobond issue to investors, a government official said yesterday. “The DMO is currently on a roadshow in the UK and the United States,” the official told Reuters, asking not to be named. “It’s a pre-marketing engagement with prospective investors.” Finance Minister, Kemi Adeosun is scheduled to take part in the roadshow, the official said. Adeosun’s office said the minister travelled yesterday to attend the IMF/ World Bank annual meetings in Washington D.C. Nigeria is yet to appoint advisers and bookrunners for the bond offer after bids for the roles closed on September 19. The official said the appointments are still in process. The DMO has said it expects to raise $1 billion from the Eurobond market by midDecember, which forms part of Nigeria’s plans to borrow a total of N1.8 trillion ($5.8

billion) from abroad and at home to fund an expected budget deficit of N2.2 trillion this year.

AfDB Pushes for FX Reforms This is just as the African Development Bank said yesterday that it will help Nigeria to overcome its recession, but added that the country should increase taxes and lift hard currency curbs to ease the dollar shortages choking the economy, its president said. According to the News Agency of Nigeria (NAN), the bank’s boss and former Nigerian Agriculture Minister, Dr. Akinwumi Adesina, said in an interview late on Monday in London that “Nigeria is too big to fail”. He said: “The African Development Bank will rally strongly around Nigeria to overcome its recession. “They (Nigeria) have a liquidity problem. We (AfDB) want to make sure Nigeria gets resilient.” But the government should also lift hard currency curbs imposed by the central bank, Adesina said, adding that this would end the pressure on the naira. He said: “In our view, it would be better to have gradual (customs) tariffs as opposed to (forex) restrictions.” “Attracting investment was the only way for the central bank to lower its interest rates. The interest rate is way too high. “You cannot drag the economy out of recession with those interest rates.” He said Nigeria had agreed on several reforms such as increasing its value-added and corporation taxes to offset a loss of oil revenues. He added that the tax-toGDP ratio was four to five per cent, less than that of other countries in the region which

stood at around 15 per cent. Nigeria has been hampered after a plunge in oil revenue, which makes up 70 per cent of national income and currency reserves needed to fund imports. In September, the Central of Bank Nigeria (CBN) left its benchmark rate at 14 per cent, resisting calls to lower borrowing costs to attract investments.

IMF: Nigeria’s Recession Will End in 2017 Meanwhile, the IMF is projecting that Nigeria’s economy will end its recession in 2017, growing by 0.6 per cent that year. According to the IMF’s World Economic Outlook (WEO) released yesterday in Washington, the fund is projecting that the current economic recession will outlast 2016, with a gross domestic product (GDP) contraction of 1.7 per cent, reported online news medium, The Cable. Nigeria’s economy was previously projected to contract by 1.8 per cent in 2016 by the fund, but the WEO has seen that reviewed to 1.7 per cent. The country has recorded a 0.36 and 2.06 per cent contraction in the first and second quarters of 2016, respectively, plunging it into its worst recession in 29 years. “Sub-Saharan Africa’s largest economies continue to struggle with lower commodity revenues, weighing on growth in the region,” IMF said in the report. “Nigeria’s economy is forecast to shrink 1.7 per cent in 2016, and South Africa’s will barely expand. “By contrast, several of the region’s non-resource exporters, including Côte d’Ivoire, Ethiopia, Kenya, and Senegal, are expected to continue to grow at a robust pace of more than five per cent this year,” the report stated.

WEDNESDAY, OCTOBER 5, 2016 Ëž T H I S D AY

NEWS

Ă?ĂĄĂ? Ă&#x17D;Ă&#x201C;Ă&#x17E;Ă&#x2122;Ă&#x153; Davidson Iriekpen Ă&#x2014;Ă&#x2039;Ă&#x201C;Ă&#x2013; davidson.iriekpen@thisdaylive.com, 08111813081

Citing Rights Abuse, ECOWAS Court Orders Dasukiâ&#x20AC;&#x2122;s Immediate Release Awards N15m damages against FG

Â Tobi Soniyi Ă&#x201C;Ă&#x2DC; Ă&#x152;Ă&#x;Ă&#x201D;Ă&#x2039; The Economic Community of West Africa States (ECOWAS) Court in Abuja has ordered the immediate release of the former National Security Adviser (NSA), Colonel Muhammadu Sambo Dasuki (rtd), from detention where he has been kept without trial since December 2015 by the federal government. The regional court held that his detention violated both national and international laws on the right of persons and citizens to freedom of liberty. In the judgment by the court and delivered by Justice Friday Chijioke Nwoke, the ECOWAS Court imposed a fine of N15 million against the Nigeria government as compensatory damages to the former NSA for the deprivation of his freedom to liberty and right to property. In the judgment that lasted over one hour, the regional court dismissed the allegations of unlawful possession of firearms and economic crimes used by the federal government to justify the detention of Dasuki, adding that the Nigerian government went off track, because the applicant applied before the court for the enforcement of his fundamental rights. Justice Nwoke said that even if the applicant had committed a crime, the law still required that due process of the law should be observed in his trial, adding that it was an established fact that the applicant was put on trial in three different Nigerian High Courts and was granted bails by the courts. The court said that the action of the Nigerian government, in subjecting the ex-NSA to indefinite detention without trial, was condemnable because criminality had not been established against him. The ECOWAS court came down heavily on the federal government

on its claim that it detained Dasuki without trial because he (Dasuki) was â&#x20AC;&#x153;planning to stage a coup and wage war against millions of Nigeriansâ&#x20AC;?, adding that the defendant (Nigeria) was so confused and not consistent in its defence in the suit against it. Justice Chijioke further held that the Nigerian government took the law into its hands and made a mockery of the rule of law by arresting the applicant without a warrant of arrest or warrant of detention when he had legally been granted bail by the appropriate courts. According to the court, detention order must be made in writing and must be delivered to the detainee. In the instant case, none of such was obtained and delivered to Dasuki by the federal government before arresting and executing and forcefully taken away his property at his homes in Abuja and Sokoto. The court also dismissed the claim of the federal government that Dasuki was arrested and detained in his own interest, adding that the claim was an assault to the Nigerian Constitution and other international laws, because there was no iota of evidence placed before the court that the applicant applied for security protection. Besides, the ECOWAS Court said that the claim of the Nigerian government that Dasuki was detained in his own interest contradicted the claim made by the same government that the applicant was arrested and detained because he constituted a security threat to Nigeria and having also committed some economic crimes. The court held that the claim that Dasuki was detained in his own interest was unreasonable and that Nigeria, being under a democratic government where the rule of law was expected to be protected, ought to act within the ambit of the law, since every nation was subject to the rule of law.

House Issues Seven-day Ultimatum over Nigerian Students Held in Turkey Damilola Oyedele Ă&#x201C;Ă&#x2DC; Ă&#x152;Ă&#x;Ă&#x201D;Ă&#x2039;Ă&#x153; The House of Representative yesterday issued a sevenday ultimatum to Turkish Government to release over 50 Nigerian students being held in detention. The students are studying at the Fathi University, one of the institutions owned by Gulen movement, which the Turkish government claimed was a terrorist organisation. THISDAY had exclusively reported on Saturday that the students were detained on arrival at the airport, and were offered options of switching to state owned institutions but at the same cost which they pay at the private university. The House, following a motion of urgent public importance by Hon. Solomon Bulus Maren (Plateau PDP) also called on the federal government to urgently deploy all diplomatic options to

ensure their immediate release. The Committees on Diaspora, Education, Foreign Affairs and Interior were also mandated to investigate the circumstances around the detention of the students, and proffer solutions to avoid repeated incidents. Maren, in his submission noted that the incident mirrors a trend where Nigerian students abroad experienced hardship, torture, extortion and even death, in their quest to obtain education. He cited several instances where Nigerian students have been mistreated, tortured, and even killed. Hon. Nnanna Igbokwe (Imo PDP) accused Turkish authorities of retaliating to refusal of the Nigerian government to shut down Gulen linked schools and businesses operating in Nigeria. He added that the Ministry of Education had explained that Turkish schools in Nigeria were registered as private entities.

CCT orders forfeiture of Orubebeâ&#x20AC;&#x2122;s land to govt

â&#x20AC;&#x153;Having perused the case before us, we have come to the conclusion that the re-arrest and detention of the applicant, after he had been granted bail by three courts since December last year, made mockery of the rule of law. The executive arm should not interfere with the judiciary. â&#x20AC;&#x153;Even if the applicant has committed crimes of whatever nature, the principle of innocence must be respected and the fact that he has been charged to court does not disentitle him to freedom of liberty. Courts must rise to their responsibilities and prevent executive lawlessness. â&#x20AC;&#x153;It is the applicant today, it could be anybody tomorrow. There is no legal basis for the re-arrest of the applicant other than to circumvent the bails granted by courts. â&#x20AC;&#x153;We have no difficulty in coming to the conclusion that the purported search warrant claimed to have been obtained by the Nigerian government was an afterthought aimedatpervertingthecourseofjustice, because the so-called search warrant was not certified and to worsen the case, the defendant claimed that it could not serve the same search warrant on the applicant. â&#x20AC;&#x153;For the avoidance of doubt, anybody who commits crimes must be put on trial before an appropriate court, but in doing so, the state must

respect local and international laws in the prosecution of such persons,â&#x20AC;? the judge said. The court therefore declared that the arrest, detention and the continued detention of Dasuki since December 2015 without a warrant of arrest as unlawful, arbitrary and done in contravention of both local and international laws, especially Article 5 and 6 of the African Charter on Peopleâ&#x20AC;&#x2122;s and Personsâ&#x20AC;&#x2122; Rights to Freedom of Liberty. The court also ordered that the invasion of Dasukiâ&#x20AC;&#x2122;s residences in Abuja and Sokoto and forceful removal of his personal property violated all the relevant laws, especially the Constitution of Nigeria under Section 37 and 44 and ordered that the property seized must be immediately returned to him. The court further ordered payment of N15 million as compensation to him for his unlawful arrest, detention and forceful seizure of his property without a lawful court order. Dasuki had in March this year dragged the federal government before the court challenging his continued detention without trial since December 2015. Dasuki who was rearrested by the operatives of the Department of State Security Service (DSS), shortly after perfecting the third bail conditions granted him by Nigerian Courts, asked the ECOWAS Court to

enforce his fundamental human rights as enshrined in the African Charter on the People and Human Rights. In the suit filed on his behalf by Mr. Robert Emukpoeruo, the former NSA had among others, asked the ECOWASCourttodeclareasunlawful and unconstitutional and a breach of his fundamental human rights his arrest since last year without a lawful court order. Reacting to the judgment, Mr. Wale Balogun who stood in for Dasuki, expressed optimism that the federal government, being a major stakeholder and signatory to the protocol of the ECOWAS Court, and being a democratic government wouldobeyandimplementtheorders issued by the court. CCT Orders Forfeiture of Orubebeâ&#x20AC;&#x2122;s Land In another ruling yesterday, the Code of Conduct Tribunal (CCT) also ordered the federal government to confiscate a landed property, which the Code of Conduct Bureau (CCB) said belonged a former Minister of the Niger Delta, Mr. Godsday Orubebe and was allegedly not declared by him in violation of the Code of Conduct for Public Officers The government had dragged Orubebe before the tribunal on a one-count charge of non-declaration of a landed property situate at Plot 2057 Asokoro District, Abuja, when he was leaving office in 2011.

During the trial, Orubebe through his counsel, Selekeowei Larry (SAN) had told the tribunal that the land no longer belonged to him, as he had transferred the interest to one Mr. Akinwumi Ajibola, in lieu of his (Orubebe) two yearsâ&#x20AC;&#x2122; house rent in Mabushi where he lived as a minister. Orubebe further told the tribunal thatallthedocuments,asrelatingtothe land had been transferred to Ajibola, including the Power ofAttorney and Deed ofAssignment since June 2013. But the federal government had insisted that the said land still belonged to Orubebe, as same was yet to be registered at the Land Registry. The prosecution argued that the allocation paper was still in Orubebeâ&#x20AC;&#x2122;s name. Delivering judgment yesterday, the chairman of the tribunal, Mr. Danladi Umar held that having analysed the submission of both parties, it was observed that six years after the transfer had been made, the documents of the land were yet to be registered at the Land Registry. He further held that the prosecution had established its case beyond reasonable doubt. He further held that the defendant was under obligation to register the land at the Land Registry in Abuja.

THE ALLIANCE REMAINS SOLID

President Muhammadu Buhari receives in audience, the All Progressives Congress (APC ) National Chairman, Chief John Odigieâ&#x2030; Oyegun, in State House...yesterday

Buhari Seeks Global Cooperation to Defeat Terrorism

Tobi Soniyi Ă&#x201C;Ă&#x2DC; Ă&#x152;Ă&#x;Ă&#x201D;Ă&#x2039;

President Muhammadu Buhari yesterday in Abuja called for stronger global alliance in intelligence and information sharing to halt the scourge of terrorism in both developing and developed countries. A statement issued by the Special Adviser to the President on Media and Publicity, Mr Femi Adesina, said the president made the call at the State House while receiving Letters of Credence from the Ambassadors of the Republic of Tunisia, Mr. Jalel Trabelsi; Federal Republic of Germany, Dr. Bernhard Stephen Schlagheck; Kingdom of Sweden, Mrs. Inger Ultvedt and the High

Commissioner of Canada, Mr. Christopher Thornley, at separate meetings. Buhari told the Canadian High Commissioner that countries must always be on alert, and be willing to share information on activities of terrorists. The president said Nigeria received support from several countries to fight Boko Haram insurgents in the North East, after the invitation to the G-7 meeting in Germany in 2015, recording remarkable progress in degrading the group and saving many lives. Buhari said: â&#x20AC;&#x2DC;â&#x20AC;&#x2DC;The terrorists are all over the place; and we must be more watchful. If a

developed country like France can be attacked by terrorists to the point of killing about 130 people, then what more of developing countries. â&#x20AC;&#x2DC;â&#x20AC;&#x2DC;We need to build, and keep increasing our capacities to network and stay ahead. We need to build these capacities across borders because terrorists operate across borders,â&#x20AC;&#x2122;â&#x20AC;&#x2122; he said. Buhari said the rehabilitation of Internally Displaced Persons (IDP) in the North East also received attention from some countries, who were quick to render services and material support to alleviate the humanitarian crisis that followed the overpowering of

Boko Haram. The president said his government had instituted reforms in various sectors of the Nigerian economy to ensure stability and integrity in operations, promising to create a more enabling environment for new partnerships and attractions for Foreign Direct Investments. In his remark, Thornley said the reforms in the Nigerian economy were necessary to build global confidence and deeper relationships that will benefit the country. â&#x20AC;&#x2DC;â&#x20AC;&#x2DC;We want you to know that Canada stands by you as a friend to Nigeria, and your government,â&#x20AC;&#x2122;â&#x20AC;&#x2122; he said.

WEDNESDAY, OCTOBER 5, 2016 • T H I S D AY

NEWS

Afe Babalola Writes Buhari, Says ‘Change Begins with Me’ Campaign Not Lai Mohammed’s Initiative Ejiofor Alike

A Senior Advocate of Nigeria (SAN), Chief Afe Babalola has written President Muhammadu Buhari, insisting that his client, Mr. Akin Fadeyi is the creator of the anti-corruption media campaign project ‘Not in My Country,’ and not the Minister of Information, Culture and Tourism, Mr. Lai Mohammed. In a letter dated September 29, 2016, Babalola stated that the clarification by his client would enable the president to come to appreciate his client’s status as “a partner in the pious goals of this administration and the need to thoroughly investigate the issues surrounding the media report”. Babalola maintained that his client chose to remain silent for three crucial reasons. “First, our client is a private business man genuinely concerned with advancing our Nigerian society by innovative thinking and development projects, not a politician with any vested interests. Second, as shown below, the ‘Not in My Country’ anti-corruption campaign project is a product of our client’s lifelong vision to do something towards ridding

our society of the cankerworm of decadence. On this point alone, our client has the same goals as the present administration in tackling corruption effectively at the grassroots. “Third, our client will not sacrifice this noblest of goals on the altar of claiming his personal individual rights, especially not in a way capable of being bastardized or confused with propaganda, among other distractions. That is not to say our client will not defend his work and hard-earned intellectual property rights in a court of competent jurisdiction at the appropriate time. “Indeed, our client awaits Alhaji Lai Mohammed to make good his threats to sue him, in preparation for which he has instructed our law firm to commence the preparation of processes in answer to any summons filed against him. Without a doubt, when our client responds to any processes filed, his actions and motives will be clear and unmistakable,” he explained. Babalola described Fadeyi as “an enterprising young man with over a decade experience in initiating, coordinating and executing national (re)orientation

and other development projects in Nigeria”. According to him, Fadeyi conceived and initiated the ‘Not in My Country’ anti-corruption campaign project in 2007 at the University of Lagos. Babalola revealed that in a letter granting Fadeyi’s request to use the university premises for ‘a three minutes clip demo tape on Saturday, September 29, 2007’, the Principal Assistant Registrar of the university had acknowledged that the “…project is on national re-orientation campaign aimed at changing the attitudes of youths for the better especially in the area of examination malpractices and moral integrity” “Thus, our client has records of having presented some of his drama skits to officials of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) in 2007. In 2008, our client took the project to Messrs Joseph Adeyeye, Casmir Igbokwe and Steve Ayorinde, the current

Commissioner for Information and Strategy, Lagos, who was then Editor of the Punch. Since then, our client kept developing this project into the media campaign to eradicate corruption over time- using the 1-minute drama skit model- which our client has perfected in his ‘Not in My Country’ project,” Babalola explained.. Babalola further stated that it was this fully developed one-minute drama skit model that Fadeyi presented in a proposal to Mohammed on December 30, 2015, to enlist the minister’s cooperation to facilitate the broadcast of the already prepared skits on the Nigerian Television Authority. Babalola also told the President that after watching the three one-minute skits, the minister was so impressed with the project that he commended Fadeyi for having effectively harnessed the ‘power of drama and time (one minute)’ and agreed in principle to partner with him on this project.

“However, the minister indicated that he was yet ruminating on a ‘Change Begins with Me’ idea of his own which he wanted our client to reflect in the ‘Not in my Country’ project. Thus, it was agreed at that meeting that our client should go back to location and re-shoot the drama skits to reflect the minister’s ‘Change Begins with Me’ as the pay-off line in the ‘Not in My Country’ videos,” Babalola said. Babalola also recalled that upon completion of the video reshoot, Fadeyi sent the minister text messages intimating him that the job was done, and later met with him at the Southern Sun Hotel, Ikoyi, Lagos, where the minister was meeting with some musical artists. According to Babalola, the minister gave Fadeyi his email contact and asked that the reworked videos be sent to him via email, which Fadeyi did. Babalola alleged that having received Fadeyi’s drama materials, the minister held on to them without communicating

with Fadeyi any further. “All attempts to reach and meet with him again were evidently rebuffed by the minister. Undaunted, our client reverted to the original skits first presented to the minister and produced many more skits of the Not in My Country drama. This was launched publicly to wide media coverage on the 3rd of May, 2016 in a well-attended event at Leadway/Protea Hotel, Maryland, Ikeja. The countless media coverage of news stories, opinions and columns are available in print and electronic media for all to see. Thereafter, our client embarked on an aggressive nationwide stakeholder engagement. Despite the minister’s silence after receiving the work, our client sent him a reminder letter, newspaper cuttings of his launch and a comprehensive copy of his Not in My Country project on the 9th of June 2016. Till date, the Hon. Minister has not replied any of these correspondences,” Babalola added.

Party Chair Says Ex-Lagos Gov was Harsh on Him

Pro-Oyegun group protests at APC national secretariat Tobi Soniyi and Onyebuchi Ezigbo inAbuja The National Chairman of the All Progressives Congress (APC), Chief John Oyegun, has said that the party’s national leader, Asiwaju Ahmed Tinubu, was harsh on him. Tinubu had accused Oyegun of subverting democracy for insisting that the primary that produced a former President of the Nigerian Bar Association, NBA, Rotimi Akeredolu, as APC gubernatorial candidate for Ondo State governorship election must stand even after an appeal panel had ordered for a fresh primary election. Oyegun, who was in the Presidential Villa yesterday to see President Muhammadu Buhari told State House Correspondents that Tinubu were harsh on him in his letter. He however denied a rift between them, saying it was a difference in opinions. He said that the party’s constitution provided for the removal of the national chairman. He said that that the National Executive Council of the party would meet at the appropriate time. He said: “There is no rift with Asiwaju. We have difference of opinion, difference of perception and I think that is normal. Yes, I agree that the nature of the statement was a bit harsh. “The methods of getting rid of a national chairman if that is what I will call it, are spelt out in the constitution. They don’t take place on the pages of newspapers. “It is proper for them to meet and they will all meet at the appropriate time.” Responding to whether the

handshake was a sign of true reconciliation, he said: “Do they know how far back our association goes? Do they know that we were in the trenches together in the NADECO days? Why can’t people who have mutual respect for each other have different opinions? All we had was difference of opinions. Yes, it was expressed a bit harshly but that doesn’t remove the basic fact that we have worked together for a very long time.” Oyegun stated that it was only the Independent National Electoral Commission, INEC, that would upturn the victory of Akeredolu. “What happened is in the report of the chairman of the primaries committee. It is only INEC can make U-turn on Ondo”, he said. He also dismissed speculations that he imported youths to protest against Tinubu at the APC secretariat in Abuja. “God forbid, anybody who knows me knows that is not my style. I’m equally shocked and I’m going to look into it and find out why and who is behind it”, he said. On the victory of APC in the recent Edo governorship election, Oyegun expressed happiness that the election ended in the party’s favour. “Well, it was a hard fought election. That was clear. Two things really, it was more of a referendum first on the performance of the governor. Second, on the quality of our candidate and most importantly, given the economic situation, it was an opportunity for us to measure the continued popularity and acceptability of our president.

EMPOWERING CREATIVE INDUSTRY

Minister of Information, Culture and Tourism , Alhaji Lai Mohammed (left) and Chairman, Heirs Holdings and Founder, Tony Elumelu Foundation(TEF), Mr. Tony Elumelu, at the signing of Memorandum of Understanding (MoU) between Ministry of Information, Culture and Tourism and the Tony Elumelu Foundation to develop a framework to support Nigerian creative industry, held at the National Arts Theatre, Lagos...yesterday

Utomi: Buhari’s Rigid Stance on Devaluation Sent Wrong Signals to Investors Obiano counsels FG on how to get out of recession

Tobi Soniyi in Abuja

An economist and policy analyst, Professor Pat Utomi, has said that President Muhammadu Buhari’s statements that he would not agree to devaluation of the naira sent wrong signal to would be investors. Speaking at the Third Awomolo & Associates’ Annual Colloquium held in Abuja on on a theme, ‘Global Economy Beyond Oil: Challenges and Solutions; Nigeria in Focus’, Utomi said that as at the time when investors confidence in Nigeria had waned, the blame game adopted by the president did not help matters. He explained that the world already knew the implication of the pillage of the national treasury that took place before Buhari came to power and there was no need for the president to keep on repeating it.

He said: “But the matter on ground was how to keep confidence in the market till the balance of payment challenges could be overcome and fiscal modulation achieved in getting state governments to manage realistically. “On the current account challenges, we compounded the problem by unnecessary comments that devaluation would never be accepted. That rigid position caused exporters to pause, lest they repatriate their earnings and get less than real value. “It also held back foreign direct investments and even the more dreaded, but useful in context portfolio capital into stock market.” Utomi said the way forward out of the country’s economic woes must include an open and candid conversation in policy choice.

He said: “A new national development strategy that inspires confidence, run by champions of competence and passion mobilising the young to build on their know how to build competitiveness on value chains that rest on Nigeria’s factor endowment.” He disagreed with the ongoing debate on the sale of public assets as a way of generating revenues for the government. “The trouble with the call for sale of public assets is how much it goes against what is most needed in Nigeria today; elite consensus on how to solve the problems. A clear example is in the power sector,” he added. Utomi underscored the role of lawyers in the economic development of the nation, describing it as “more central than lawyers often realised” He said: “I therefore wish to

seize this opportunity to urge lawyers to see their professional calling as a vocation of sorts in which they do more to ensure that Nigeria becomes a more just society.” Also speaking, Anambra State Governor, Willie Obiano of Anambra State also gave insight into how the federal government could improve agricultural activities in a bid to diversify the nation’s economy from crude oil. Obiano said through adequate planning and coordination of farming activities by giving incentives to farmers, Nigeria would wriggle itself out of the current recession it is faced with. Speaking on the same theme at the colloquium: ” Obiano advised the government to adopt a scientific approach to farming by building a data bank for farmers with a view to tracking their activities.

WEDNESDAY, OCTOBER 5, 2016 • T H I S D AY

NEWS

Pandemonium as Akeredolu, Abraham Supporters Clash in Akure James Sowole in Akure There was pandemonium yesterday in Akure, Ondo State capital, when supporters of the All Progressives Congress (APC) candidate for the November 26 gubernatorial election in the state, Chief Oluwarotimi Akeredolu (SAN) and those of his rival, Dr. Olusegun Abraham, clashed at the party secretariat located on the popular Oyemekun Adesida Road. The confusion occasioned by the clash led to the temporary closure of the road as the party secretariat is located at the popular Cathedral junction that leads to several adjourning roads in the heart of Akure town. The crisis took place even as the Assistant Inspector-General of Police in charge of Zone 11, Mr. Dan Bature, also yesterday, stressed that security in the November 26, 2016 gubernatorial election in the state would be tighter than what happened in the just concluded poll in Edo State. Sequel to the crisis, residents

ran wildly to avoid being caught in the cross fire as supporters of the two rivals engaged in throwing of pebbles and stones against one another just as they threatened one another with cutlasses and axes. Though, no one was injured in the melee, some vehicles that were caught at the centre of the clash were destroyed by hoodlums who threw stones indiscriminately on the major road. Also some vehicles that were packed in front of the APC secretariat were destroyed as many of them had their wind shield smashed. It, however, took the intervention of soldiers and armed police officers who shot sporadically into the air before the warring members of the party could be dispersed. Trouble started when some loyalists of Abraham arrived at the party’s secretariat demanded the resignation of the National Chairman of the party, Chief John Oyegun, who allegedly vetoed the nomination of

Akeredolu. Abraham’s supporters who gathered from early hours of the morning commenced a rally from the Ondo State Cultural Centre, Adegbemile Akure through the popular Oyemekun-Adesida Road, insisting that Akeredolu did not win the primary of the party and should not be regarded as the party’s candidate. Armed with placards of various inscription, the protesters described the last governorship election of the party as a scam and called on the leadership of the party to redress the alleged anomaly. As the protesters arrived the party’s state secretariat, they were attacked by people who came with posters of Akeredolu while some dorn his branded vests. Abraham.s supporters were said to be rounding off the rally at the party’s secretariat.

Addressing his supporters who later converged on his residence in Akure, Abraham said he would do everything within the law to reclaim his mandate, which he said was stolen. He insisted that he won the last primary election of the party, having polled the highest number of lawful votes in the election, and he should therefore be declared the standard bearer of the party. Abraham said his supporters came in their thousands from various local government areas of the state to demand that he should be recognized as the APC candidate. He insisted that the only thing that could bring peace back to the party was for his mandate to be restored, stressing that the only way forward for the APC in the state is to substitute Akeredolu’s name. The aggrieved Abraham

said he may be forced to take a legal action if the party fails to restore his mandate. He identified Akeredolu as the mastermind of the attack against his loyalists who he said were on peaceful rally when they were attacked. Meanwhile, Bature who spoke at the headquarters of the state Police command in Akure, said: “In Edo State election, there was no security problem but in Ondo State, no doubt, we will up the game, the security will be much better than what obtained in Edo State,” he said. The AIG said police would provide adequate security for all the parties during the campaign. “We have even displayed this during the primaries and definitely, we will provide a level playing ground for all political parties. “ I tell you on that day we are going to overwhelm all political challenges that may come our

way,” he said. Bature who had earlier addressed officers and men of the command, also warned the men on the highways to stop extorting money from motorists, reiterating that the ban on roadblocks was still in existence. According to him, “It is not the duty of the Highways policemen to be checking vehicle particulars and anyone caught will be ruthlessly dealt with by the Force. I will not beg for anybody that is caught.” He added that the Force had set up a monitoring team to monitor the activities of the Highway Savers on the road and also to ensure that the road are saved from the attacks of armed robbers and other criminals. The AIG also assured the officers and men of improved welfare packages but urged them to be more hard working in their line of duties.

Kanu: IPOB Goes to ECOWAS Court for Justice David-Chyddy Eleke in Awka The Indigenous People of Biafra (IPOB) has stated that it has lost faith in the Nigeria judicial system, saying that it has taken its quest for the freedom of its leader, Mazi Nnamdi Kanu, to the Economic Community for West African States (ECOWAS). IPOB stated this yesterday in a press release it sent to THISDAY correspondent in Awka. The group wondered why the democratically-elected government of President Muhamadu Buhari cannot obey court order in Nigeria and why his advisers cannot let him know that continued detention of Nnamdi Kanu and other IPOB members without trial is bringing disrepute to government. It said that it is even worse now that the charges against Kanu has been dropped by a competent court in Abuja, alleging that, “even Justice John Tsoho who was paid by the Nigerian government to

jail Nnamdi Kanu has been disgraced out of the case.” Part of the press release, which was signed by the group’s Publicity secretary, Comrade Emma Powerful reads, “The leaders of IPOB worldwide have taken the matter to Economic Community of West Africa State, ECOWAS court to seek for justice. “We did this since the Nigeria judiciary cannot deliver good judgment in the matter concerning illegal detention of Mazi Nnamdi Kanu.” The group also said that it has learnt through its intelligence unit that the federal government has on learning its plan to take the matter to ECOWAS started making moves to approach courts managed by ECOWAS, with a view to buying favourable judgment. “They want to rubbish other courts manage by ECOWAS thinking that it is Nigeria court where they have powers to manipulate,” the release reads.

N’Assembly Summons Ngige over Alleged Greed, Abuse of Office Omololu Ogunmade in Abuja he Joint National Assembly Committee on Employment, Labour and Productivity, yesterday summoned the Minister of Labour and Productivity, Senator Chris Ngige, for solely awarding 44 of 131 employment slots at the Nigeria Social Insurance Trust Fund (NSITF) to himself. According to the committee, the minister grossly abused his office by a decision he took during a meeting he had with NSITF during which he cancelled

the employment exercise undertaken by his ministry between July and September this year. The committee also summoned the Chairman of the Federal Character Commission, Shettima BukarAbba and Managing Director of NSITF, Umar Munir Abubakar to appear with Ngige before the committee on Tuesday. According the Joint Committee Chairman, Senator Suleiman Nazif, Ngige violated the federal character principle on his handling of NSITF employment scheme.

WAR AGAINST HUNGER

L-R: Sokoto State Governor, Aminu Waziri Tambuwal and former Nigerian President, Chief Olusegun Obasanjo, arriving the venue of the Nigeria Zero Hunger Strategic Committee’s review meeting in Abuja...yesterday

Again, JTF Foils Bombing of Shell’s Forcados Export Pipeline in Delta Sylvester Idowu in Warri What could have been another major tragedy in the Niger Delta was averted last Sunday by operatives of the Joint Task Force (JTF) code-named, Operation Delta Safe, with the foiling of another attempt by suspected militants to blast the Forcardos Export Line being operated by Shell Petroleum Development Company (SPDC) in Burutu Local Government Area of Delta State. The incident took place four days after the Nigerian Navy foiled a similar attempt by militants to bomb the Warri Refinery and Petrochemical Company (WRPC) and Pipeline Products Marketing Company, (PPMC) in Ekpan area in Uvwie Local Government area of Delta State. Sources told THISDAY that the hoodlums had arrived a spot along the crude oil pipeline

at about 9 a.m in the oil-rich Ogulagha community and were about planting an improvised explosive device (IED) when they suddenly sighted a fast military patrol boat approaching. It was gathered that the militants, on sighting the military patrol gun boat, abandoned the ÏED and fled in their boats. “They came in two speed boats and were about fixing the bomb on the Forcados trunkline when they saw an approaching military gun boat. They quickly dropped the bomb and fled in their boats. “The security agents chased but couldn’t catch them. So when they returned to site, they discovered that they were militants and wanted to sabotage the line. They then recovered the bomb”, a security source disclosed. Spokesman of the Joint Task Force (JTF), Lieutenant commander Kingsley Osuji

confirmed the incident saying it was the timely arrival of Operatives of Delta Safe that saved the situation. It will be recalled that militants blasted the same trunkline in Ogulagha in June this year leading to the arrest of some community leaders by soldiers. Meanwhile, Commander, Nigerian Navy Ship (NNS) Delta, Commodore Joseph Dzunve has urged youth to shun criminal activities in the Niger Delta. Commodore Dzunve gave the admonition during the command’s ongoing medical outreach tagged ‘’Rhapsody’’ in Ogbe-Ijoh, Warri South-West Local Government Area of Delta. He assured the people of their safety and urged them to provide his command with useful information that will help it provide adequate security for them. He said the medical outreach was to engender military and

civil relationship, noting that the military is not all about enforcing the law but to also provide humanitarian service to the people. The navy boss said that three communities have benefited from the laudable programme since he assumed office in July, 2016. The medical outreach is an initiative of the Nigerian Navy to render free medical service to communities within its areas of operation. “The medical raphsody is one of our programme to promote our relationship with host communities. “It enlightens members of the public on medical challenges. “We are know that some people are not aware of their health challenges. “It is a programme put in place by Navy, this is about the third community we are visiting and we shall visit other communities,” Commodore Dzunve said.

WEDNESDAY, OCTOBER 5, 2016 • T H I S D AY

NEWS

Senate Probes Presidential Committee, Agric Ministry over Diversion of N5bn IDP Funds Upkeep of 1.6m IDPs beyond us, says Borno gov’s wife

Omololu Ogunmade in Abuja and Michael Olugbode in Borno The Senate yesterday raised an ad-hoc committee to probe the rampant diversion of over N5 billion released by the federal government for the feeding and well-being of internally displaced persons (IDPs) in North-eastern Nigeria. The funds and management of the IDPs’ well-being are being supervised by the Presidential Initiative on North-east and the Ministry of Agriculture and the agencies have been accused of awarding fictitious contracts as well as indifference to frequent diversion of items meant for IDPs in the face of reports that 150 children die every 24 hours. The committee which was asked to ascertain the exact amount of money released so far by the federal government and how the funds had been utilised, was also charged with the responsibility of conducting a public hearing and simultaneously investigating the diversion of grains and other food items from strategic grain reserves, National Emergency Management Agency (NEMA) and other sources to the internally displaced persons (IDPs). In a related development, the Wife of Borno State Governor, Hajiya Nana Shettima, yesterday

also complained that the upkeep of about 1.6 million IDPs was too much of a burden for the state government to carry and appealed to well-to-do individuals and corporate organisations to come out and support. The senators also resolved to contribute N200,000 each for the well being of the IDPs and simultaneously commended the United Nations (UN) and other international agencies involved in the care for the IDPs for their commitment towards alleviating the plights of the victims. The Senate tasked the committee to investigate the Health Ministry over its perceived indifference to the health conditions of the IDPs in view of their “insignificant” presence in the camps of the IDPs. The resolutions were the offshoots of a motion by Senator Baba Kaka Garbai (Borno Central) who had revealed details of how some individuals and groups fraudulently collected N1.2 billion from the federal government for the supply of needed items to the IDPs only to either end up diverting such money or items or fraudulently re-selling such items once purchased and paid for to the government. To buttress his allegation, Garbai listed how some

unknown companies such as “VFS/Conference for Reb of the NIL” on a single day, June 1, 2016 collected N100 million in two instalments of N50 million each to organise conferences on the rebuilding of the North-east as the senators wondered what humanitarian crisis in the camps had to do with conferences. Garbai also disclosed how a contract was awarded under the guise of supply to IDPs camps to JOSMAN technologies Limited with N203.35 million paid to its bank account “for the removal of invasive plant species along river channels and 115 hectares simplified village irrigation in Yobe.” He also accused same company of receiving another N20.68 million for “the removal of invasive plant species and irrigation project in Komadugu, Yobe water channels” as the senators further wondered what removal of plant species from water had to do with the plights of the IDPs. He also pointed out the payment of N117million paid to Lintex International and another N108 million to Dantex

Senate resolves to donate N21.8 m to IDPs

Nigeria Limited for the supply of temporary shelters in April, the figures that senators described as far cries from what the value of shelters they found in the camps was. According to Senator Abu Kyari (Borno North), the value of shelters found in the camps did not exceed N4 million as he wondered what such huge sums of money was used for. In the motion, Garbai expressed grave concern over the humanitarian crisis unfolding in the North-eastern part of Nigeria as he recalled how United Nations International Children Education Fund (UNICEF) representative, Arjan de Wagt, said in an interview on September 9 in Abuja, that there is “no right word” yet to describe the magnitude of the crisis in the North-east. He also recalled a recent UNICEF report that 4.5 million persons were in dire need of assistance in the North-east out of which he said one million had their lives endangered by malnutrition adding that the Financial Times also reported that about two million people “are beyond the reach of aid

and at risk of starvation in North-east Nigeria.” Lamenting how the perceived lack-lustre approach to the plights of the IDPs frequently leads to the loss of a number of children below the five years of age, Garbai explained how half of the N10 billion appropriated by the National Assembly to address the crisis in the IDPs had been released but yielded no result. He also regretted how the Presidential Initiative on the North-east inaugurated by President Muhammadu Buhari last year to manage the crisis rocking the region had failed to manage the crisis especially with the award of fictitious contracts with humongous sums and nothing to show for it. He added: “The Senate is bothered that such projects as the award of N80.7 million to JMT Global Technologies Ltd for rehabilitation of Police Station in Kwambir, N203.357 million to another company JOSMAN Technologies Limited for removal of invasive plant species along river channels and another N117 million

paid to Lintex International for supply of temporary shelters with no record of these shelters anywhere. “The Senate is further disturbed that the rather incoherent and largely fragmented state of the procurement process so far points to a vague and corrupt scheme that is not in tune with helping our people in the North-east out of their present harrowing experiences and misery.” The senator further revealed the alleged diversion of 63 trucks of grains which he said was released from the strategic grains reserve allocated to the IDPs in Borno State by the federal government, lamenting that whereas huge sums of money had been released by the federal government, the plights of the IDPs continue to degenerate by the day because such monies did not get to their expected destinations. Speaking on the motion, the Senate Leader, Ali Ndume, narrated how a foreign agency recently lamented that the worst humanitarian crisis ever witnessed in the world might be the current situation in the North-east.

Recession: NBA Calls for Review of Constitution David-Chyddy Eleke in Awka The Chairman of Nigerian Bar Association (NBA), Onitsha branch, Mr. Ikenna Chibuzor has urged the federal government to review the nation’s Constitution as a measure to tackle the current economic recession. Chibuzor, who gave the advice in an interview with newsmen in Onitsha on Tuesday, said the Constitution should be amended to reflect true federalism. He said Section 162 of the Constitution which makes the component states rely on the federal government for revenue and sustenance should be reviewed or amended. He said: “The federal system of government that we practice now is more or less a unitary system of government. “And because of that, when the center has problem, it affects the entire section of the country. “If given the opportunity to develop on their own, the states’ revenue and derivation from their areas will help to grow the economy,” Chibuzor said. The chairman urged the Federal Government to promote consistency in policies because its absence may make investors lose interest in the country. According to him, a system whereby a government comes in and because they don’t belong to the same political party or ideology, they overhaul the system. The lawyer said such move creates fear in the minds of investors in the country which

was not helpful. He said there was the need to coordinate the fiscal and monetary policy, adding that improving on the monetary policy alone would not encourage growth in the economy. “There will be need for us to have experts in government to marry the economic and fiscal policies; there has to be liaison between monetary and fiscal policy. “No amount of money pumped into the economy that will solve the problem unless we reduce our dependence on foreign goods. “Most of the things we have including things we can produce are all foreign,” he added. He said the banks should be made to lend to local entrepreneurs rather than to importers of foreign goods who are believed to make more money for repayment of loan. On the issue of national assets, Chibuzor said President Muhammadu Buhari should rather intensify efforts on his war against corruption as the sale of assets will give opportunity to investors to exploit the masses the more. “Corruption will make it difficult for the Federal Government’s intention to be realized if they decide to go ahead with the sale. “Those assets are the pride of the nation; selling them will have great impact and social implications on the masses,” the chairman said.

STRENGTHENING BILATERAL TIES

L-R: Trade Sales Manager, British Airways, Mr. Ademola Sanya, receiving a plaque from the Acting British Deputy High Commissioner in Nigeria, Mr. Ahmed Bashir, at the British-Nigeria Association 2016 Annual Presidential Dinner held at the High Commissioners’ Residence, Ikoyi, Lagos, recently.

FG Raises the Alarm, Says Rice Smugglers Up in Arms against Economy Insists on no waivers, quotas up against smugglers Ndubuisi FrancisinAbuja The Nigeria Customs Service (NCS) has raised the alarm that importers of rice through the nation’s borders are still up in arms against the economy five months after it reintroduced the ban on the importation of the commodity through the land borders. The NCS Comptroller-General , Col. Hammed Ali (rtd), who expressed the concern in Abuja at a joint press conference

yesterday, disclosed that the service was inundated with periodic intelligence about shiploads of parboiled rice that offload regularly in the neighbouring Port of Cotonou, Benin Republic. Ali said the worry was that “our neighbours in Benin Republic do not eat parboiled rice,” adding that “these imports are ultimately destined for Nigeria by smuggling through the land borders.” “Since we have declared total war on these economic saboteurs, those who have invested their

Customs, NAFDAC, others team fortunes in this business are finding it increasingly difficult to perpetuate their acts. The result of this is that several thousand metric tons of rice are now trapped in warehouses across the borders,” he said. In his address at a joint press conference, which also featured The chairman, Presidential Committee on Trade Malpractices, Alhaji Dahiru Ado Kurawa); the Acting Director-General of the National Agency for Food and Drugs Administration and Control

(NAFDAC), Mrs. Yetunde Oni, and the Governor of Kebbi State, Alhaji Atiku Bagudu, the NCS Comptroller-General said the press conference became necessary to bring to the fore the danger of rice smuggling on the nation. The joint press conference was held by the critical stakeholders, where they unfolded plans to pursue an effective synergy to check the activities of smuggling and the importation of harmful food into the country.

T H I S D AY • WEDNESDAY, OCTOBER 5, 2016

COMMENT

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

THE RETURN OF ENUGU RANGERS

“

Rangers’ feat is a lesson in determination and perseverance, writes Sonnie Ekwowusi

That was ‘Chairman’ Christian Chukwu. He tries to send an intercontinental ballistic missile, but fails. But ‘Quick Silver’ Silvanus Okpalla comes to his aid; he turns round, changes direction and sends a diagonal pass to Okey Isima. Okey Isima chested down the ball and finds ‘Block buster’ Aloysius Atuegbu. Alloy controls the ball, dances with the ball and sends a short pass to Nwabueze Nwankwo who tries a lob but loses the ball to the opponent. A Mehalla player tries to advance through the right flank, but fails. And so it is Rangers all the way now. Mike Emenalo sells a dummy, does a round dribbling and makes a quick pass which landed in the opponent’s 18-yard box. Ogidi Ibeabuchi tries a header but fails, but the rampaging Ifeanyi Chukwu Onyedika, the true son of Onyedika, quickly gains possession now, turns round, beats one, beats two and takes a shot, and, my oh my! It is a goooooal! Goal No. 4 for Rangers. Fellow Nigerians! Goal No. 4 for Rangers International. Mehalla saw Wahala. This is the day the Lord has blessed. So, let us rejoice. Sebastian, did you see that goal?” That was the baritone and sonorous voice of Nigeria’s best radio football commentator Ernest Okonkwo. That was the voice that ruled the Nigerian airwaves in the 1970s and 80s. That was the voice that pierced through the sky bringing succour and thrills to many football lovers in Nigeria. Ernest Okonkwo was a wordsmith. Together with fellow football commentators - Sebastian Offurum, Tolu Fatoyinbo, Walter Batowei and Kevin Ejiofor, Ernest kept many football fans who glued their ears to their transistor radios in the 1970s and 80s on the edge of their seats with his scintillating and masterful football commentaries. The darling football team of the 1970s and 80s was the indomitable Rangers International Football Club of Enugu. Rangers, unarguably, was not just a football club. Like Barcelona FC, Enugu Rangers was life. It was culture. Enugu Rangers was born shortly after the Nigerian Civil War in 1970. It was a symbol of hope for a “conquered people”. With their monies, property, schools confiscated after the civil war in 1970, Igbos first sought hope in God and thereafter in something which could revive their ingenuity, hard-fighting spirit and dogged perseverance. That thing was Enugu Rangers International Football Club (Flying Antelopes). Against their opponents in the football pitch, Rangers was not playing to win the match; they played to revive the drooping Igbo essence and Igbo cultural renaissance. Enugu Rangers arch-rivals in the 1970s and 80s were ICC Shooting Stars of Ibadan (3SC Fooball Club) (parading “Mathematical Segun Odegbami, Muda Lawal, Idowu Otubusin, Nathanial Adewole, etc) and Mighty Jets of Jos (staring Sule Kekere, Baba Otu Mohammed, etc). In fact, the el classico at that time was Enugu Rangers V ICC Shooting Stars. Rangers and ICC supplied the bulk of players that featured in the national football team, the Green Eagles. Segun Odegbami recounts that for five years no football club in Nigeria could match the football dexterity and skill of Enugu Rangers. Theirs, according to Odegbami, “was a combination of grit, flair, determination and an uncommon fighting spirit. They won every available

THE RETURN OF ENUGU RANGERS, LIKE THE RETURN OF IJELE, THE KING OF ALL MASQUERADES, HAS REJUVENATED THE DYING JOY OF THE IGBO RACE

trophy in Nigeria and went on to the African continent in search of the country’s first continental club trophy and came back close to winning a few times”. Enugu Rangers won Nigeria National league six times between 1974 and 84. They won the Challenge Cup five times between 1974 and 83 and won it back-to-back 1974-1976. Rangers played the finals of Africa Cup of Champions in 1975 and narrowly lost to Hafia of Guinea. It was the match that earned Rangers left full-back player Silvanus Okpalla the sobriquet “Hafia” for doing a yeoman’s job at the defence. Enugu Rangers became the second Nigerian team to win Africa Cup winners in 1977 after ICC Shooting Stars of Ibadan had won it in 1976. The top legendary ex-Rangers players and soccer warriors who took Enugu Rangers to great heights and who also played for the Green Eagles were: Cyril Okosieme, Emmanuel Okala, Dominic Ezeani, Godwin Achebe, Christian Chukwu (Chairman), Patrick Ekeji, Dominic Nwobodo (Alhaji), Mathias Obianika, Christian Madu, Christian Nwokocha, Paulinus Ezike, Stanley Okoronkwo, Earnest Ufele, Nwabueze Nwakwo,(Mr. Long throw), Silvanus Okpalla (Quick silver), Aloysius Atuegbu (Block buster), Emeka Onyedika (404), Ogidi Ibeabuchi( Ogidi Nma), Okey Isima, Louis Igwilo (Commander), Harrison Mecha, Mike Emenalo, Foster Ikeagu, Nnamdi Anyanfo, (the Police man,or “Waskie); Charles Adimora, Ignatius Ilechukwu, Ifeanyi Chukwu Onyedika, Samuel Onyeaka, Kenneth Ilodigwe and Chimezie Ngadi. But unfortunately, from 1984/1985 football season probably after the aforementioned legendary Enugu Rangers players had retired or quit the club, Enugu Rangers went into soccer hibernation. The club became a shadow of itself. The new Enugu Rangers players could not bite. Not only was Enugu Rangers unable to win any football trophy the club was almost relegated to a second Division Team in the national league. This trophy drought lasted for 32 years. But penultimate Sunday a miracle occurred in the Nigerian football history. Enugu Rangers came back to life. The club walloped El Kanemi Warriors 4-0 to clinch the Nigerian Professional Football League for the 2015/2016 season. By clinching that title, Enugu Rangers returned to the centre stage of Nigerian football after 32 years of trophy drought and hibernation. Surely, the return of Enugu Rangers, like the return of Ijele, the king of all masquerades, has rejuvenated the dying joy of the Igbo race. The return of Enugu Rangers testifies that there is light at the end of a dark tunnel. The return of Rangers is a big lesson in the virtues of determination and perseverance. The return of Enugu Rangers is a reminder that hope is our greatest asset. We cease to live when we cease to hope. The overflowing joy that has accompanied the return of Rangers is a reminder that human beings are the wealth of a nation. The best treasures in life are not material things or electronic gadgets: the best treasures are human beings. Therefore the return of Enugu Rangers marks the return of the old treasure. We hope that Enugu Rangers has returned to sparkle once more.

A CONSPIRACY AGAINST HUMANITY

t was a rumour within government circle until the business mongul and richest African, Aliko Dangote, made it public, to wit, that selling of Nigeria’s national assets is the quickest and surest way of coming out of the economic recession. The Senate President, Dr Bukola Saraki bought into the idea. In his well-articulated welcome address to his colleagues in the red chamber after a long recess, the man considered to be greater than the cat with nine lives posited that all vital national assets should be sold off for Nigeria to come out of the present economic quagmire. The matter has since gone viral within the high and mighty in the country and the discussion would not come to stop until the conspiratorial purpose is completely achieved, albeit total sales of Nigeria’s future. I have a self-imposed assignment therefore to prove two things. First is identification of those behind this most dangerous move in wanting to sell the people of Nigeria and their tomorrow while the second is that of knowing the reason why they [the sellers and buyers - they are just one] are embarking on this enterprise. We don’t need to look too far in identifying those who want to sell us - our assets and our future. They are our leaders. They are those elected into office to take us to our “political paradise”. They are those, through the process of manipulation and permutation, which is the real game of politics, were the

Godwin Etakibuebu argues against selling the country’s assets beneficiary of last year general election. These are both the anticipated sellers and articulated buyers. They are dealers parading themselves as leaders. These dealers are of fact made up of two groups of people. First are those that offered themselves to be elected or selected into offices, starting from the highest to the lowest. They all came [and shall continue to come] as messiahs, with promises of delivering us from “hell to paradise”, but at the end, are dumping us more into the inner part of hell. The second group refers to the “power behind the façade”, the godfathers that pay the politicking bills. They are those that really dictate the tune of limits or otherwise to the political office holders because they paid all the bills. This group is the real manipulators and creator of permutation’s regulations in the political horizon. For these reasons, it is not difficult therefore in saying without any fear of contradiction that the All Progressives Congress that overwhelmingly won the general election of last year, and progressively thereafter inaugurated the federal government, is the anticipated seller and prospective buyers of the nation’s common assets. This is why we ought to understand very quickly that both efforts of flying the kite and the avalanche of perfidious advocates in selling off our common national assets are derivable forces from the same source. Truth is that President Muhammadu Buhari, the APC and its leadership, are together

in this business of wanting to sell Nigeria off for their parochial and selfish interests. The next question begging for answer would be: why? The proceeds from the anticipated sales are needed most urgently by the ruling party and its leadership to complete recouping their investments in securing victory during the last general election. Let me explain it this way. Both President Buhari and the APC have “revealed” to the whole world how much the previous government of the Peoples Democratic Party [PDP] looted from the national treasury to enable it contest the 2015 general election. Thanks to APC and its leadership, we would not have known that PDP and its leadership “looted the whole country dry” to have been able to contest the election which it failed to win. This revelation about the massive looting by PDP to enable it contest the election equally holds a veritable fact that every major political party in Nigeria that must contest election with the aim of winning and forming government at the national level must come with such volume of funds that can only be looted from the national treasury. Ipso facto, it is safe to accept the fact that the APC, which went into the same general election of 2015 with such massive deployment of logistics, spent as much money on the election as the PDP, if not more. If this is an acceptable fact, it will be safe to conclude that since the APC was not controlling the federal government at that time, it borrowed such huge funds from few of its leaders

[who must have stolen such funds from the country in one way or the other] in addition from funds directly stolen from some of the states’ treasuries controlled by APC governors. Either way, both parties [PDP and APC] spent so much monies that could only have been stolen except that one, in this case the PDP looted its money in advance due the fact that it was in government, while the APC spent massively in anticipation of looting later when it would have come to government at the federal level. Definition of looting is close enough to definition of bribe. Bribe is defined as “gratification given and received before or after an obligation is rendered”. Bribe can be given and taken in advance. It might as well be given and taken in arrears. In the same manner, looting of public treasury, albeit the national vault can be in advance, like as alleged against the PDP administration, or in arrears as would be alleged against the APC administration. With this as fair judgment of affairs, we can see the compelling reasons why the APC government must sell off all Nigeria’s profitable assets in addition to the “rule of non-disclosure” of all our earning plus recovered loots since the APC government came to power. This is what l called the Doomsday conspiracy. Etakibuebu, a veteran journalist, wrote from Lagos

T H I S D AY • WEDNESDAY, OCTOBER 5, 2016

EDITORIAL WASTE IN A TIME OF RECESSION State governors must learn to cut the cost of governance

Where will you find leaders who indulge in ostentation in times of turbulence and complex economic challenges? Perhaps only in Nigeria! Recent reports indicate that many state governors are still acquiring extremely expensive cars and sports utility vehicles (SUVs) and other items of luxury for themselves at public expense. Indeed, some of the governors reportedly have as many as 12 bulletproof cars in their garages. We must register our strong disapproval of this trend in governance as it simply defies logic and common sense. In the past one year about 28 states government were almost too poor to pay their workers’ salaries. The inability of the states to pay salaries attracted the attention of the federal government. In July 2015, the Central Bank of Nigeria (CBN) in a special intervention package, doled out between N250 billion and N300 billion by way of soft loans to enable the states meet their salary obligations to their workers. But these monies made little or no impact as many of the states claimed they still could not perform routine functions. In some states, workers are still being owed salaries, some by as many as eight months. That perhaps MOST OF THE CURRENT explains why many of the financially GOVERNORS MAY DO distressed states are WELL TO UNDERSTUDY scrambling for the PETER OBI’S YEARS N90 billion recently IN GOVERNMENT AND set aside by the ELIMINATE THE WASTE federal government for another round of bailout. Therefore, the question remains: Why will a governor of a state unable to pay salaries and pensions expend humongous sums of money in bulletproof cars in addition to a fleet of other cars maintained at public expense? The average cost of a bulletproof car is put at about N75 million. That amount, without the cost of monthly maintenance, is big enough to defray the monthly salary of a department or two in

Letters to the Editor

T H I S DAY

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

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

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

government. Why should the governors, at austere times, when many Nigerians cannot afford a good meal, indulge in extravagant lifestyles? Who are they trying to impress? Or is it, as many people have argued, to protect themselves from their misdeeds? The current perception of the populace is that many of our governors have failed to plug leakages and wastes, which over the years have become institutionalised in their states. Top officials in some of these poor states are still ferried around in private jets and helicopters mostly to attend unnecessary social events, including marriage ceremonies and birthdays. The ostentatious lifestyles of most governors do not offer logical persuasion to the citizens they govern that their states are broke. Indeed, former Anambra State governor, Mr Peter Obi has proved beyond doubts that the states could be viable if their chief executives learn to trim the cost of governance. While speaking on “cutting cost in governance,” at The Platform, an annual programme organised by the Covenant Christian Centre in Lagos last week, Obi rightly blamed the poverty of the states on the over-bloated spending habits of most governors. He said his eight years in power were years of prudence: he slashed the cars on his fleet, travelled in commercial airlines without a retinue of staff, reduced the number of visitors to the Government House and shutdown the state’s liaison office in Abuja, which for many of his colleagues serves as a playground. Obi left over N75 billion in the state’s coffers. “It costs an average of N2 billion to run the office of the First Lady in every state in Nigeria,” said Obi. “Multiply by 36. Nigeria can still function on its income if only we learn how to cut cost. We need to cut the cost of governance. No governor needs a house in Abuja.” What’s more, he used the state money to create the platform for a productive economy. Most of the current governors may do well to understudy Peter Obi’s years in government and eliminate the waste.

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.

ADDRESSING MATERNAL MORTALITY IN NIGERIA

n Year 2000, the World Health Organisation (WHO) ranked Nigeria 187th in overall performance in health among 191 member states. This unhealthy ranking has since made stakeholders in the health sector devised several means to reverse the trend. This includes strengthening the operations of traditional birth attendants, (TBAs) for safer delivery of newborns and as a strategy to reverse the country’s maternal mortality rating. Nigeria is the highest contributor to annual maternal deaths with 14% of 289,000 global annual maternal deaths. Nigeria has achieved only an average of 1.2% reduction per year in under-five mortality since 1990. The rate required if Nigeria was to be on track for achieving Millennium Development Goals (MDGs) then was 10%. In Nigeria, a high percentage (more than half) of deliveries still happen at home without the support of certified medical professionals due to the variation between urban and rural areas as well as some age-long customs and confidence reposed in TBAs over time. In addition, majority of Nigerians still lives in remote villages where access to proper medicare facilities could take a whole day. The use of TBAs and home delivery were preferable for some community members despite the availability of the village midwife in such communities. Physical distance and financial limitations were two major constraints that prevented community members from accessing and using trained attendants and institutional deliveries. Perhaps a stronger argument in support of the traditional way of deliveries is the fact that the practice has been in existence for decades before the present day medical practice. Conversely, modern day medical way of deliveries also argues that deaths of infants and mothers during

birth in the ancient days were often ignorantly linked to evil spirits and in some cases the deaths were attributed to ancestral misfortunes whereas their inability to handle those cases with modern medical knowledge was responsible for those avoidable deaths. Research has shown that the leading causes of newborn deaths occur during delivery (baby not breathing), complications of birth as well as severe infections – which could be prevented through healthy home practices and community-based care made possible even in hard-to-reach areas. Community awareness and behaviour change can save a lot of our neonates, infants, Under-five children and mothers from untimely deaths. Undoubtedly, majority of those who deliver babies outside maternities, clinics and hospitals do so at TBAs. Others are those who take deliveries in faith-based organisations as well as traditional healers’ facilities. As the cost of living in urban areas is increasing, large numbers of residents are moving to rural communities where they would end up relying on TBAs as their major health care providers for deliveries. With this, ignoring the contributions of these categories of healthcare givers could spell a doom for a society like ours. Community Health Workers (CHWs) and TBAs will continue to be part of service delivery models in the coming years, especially in those countries where there are severe deficits in the number of professional health workers. In communities where CHWs and TBAs hold respected positions, they can influence women’s use of midwifery care and can provide basic health information about healthy pregnancy, safe birth options, newborn care, nutrition, breastfeeding support, family planning and HIV prevention. This informed the decision of the Lagos State Government to continually train TBAs on international best practices while also cautioning

them of their limitations. In addition to the establishment of a Traditional Medicine Board to oversee the affair of TBAs, training is usually provided for thousands of these healthcare givers on a regular basis. The state government through this initiative, created a professional synergy platform for the TBAs to refer extreme cases of deliveries to government hospitals where such patient would be professionally attended to before sever complications set in. In India, for instance, similar strategy is being used to address maternal mortality rate where trained midwives are not available. In Ethiopia, there is a similar practice but the nomenclature used is ‘extension workers’ where they receive training on assisting pregnant women, conducting uncomplicated deliveries, and managing uncomplicated postnatal clients and neonates. A ban on TBAs, which has been in place since 2007 in Malawi was effectively lifted by Malawi’s then President, Bingu wa Mutharika. Malawi has one of the highest rates of maternal and neonatal mortality in the world, with a maternal mortality ratio of 675 deaths per 100,000 live births and a neonatal mortality ratio of 31 deaths per 1000 live births. In Lagos, the overall intention of the state government is safe delivery of newborns regardless of means of delivery, be it through modern day doctors or through TBAs who have been certified to operate by the State Ministry of Health and licensed. While this is quite commendable, adequate monitoring mechanisms should be put in place in ensuring compliance with standard practices and professionalism. • Ayo Afuwape, Ministry of Information & Strategy, Alausa, Lagos

WEDNESDAY OCTOBER 5, 2016 T H I S D AY

T H I S D AY WEDNESDAY OCTOBER 5, 2016

REQUEST FOR EXPRESSION OF INTEREST IN THE ACQUISITION OF A FOUR STAR HOTEL IN PORT HARCOURT, NIGERIA

REQUEST FOR EXPRESSIONS OF INTEREST (EOI) IN THE ACQUISITION OF A FOUR STAR HOTEL IN PORT HARCOURT NIGERIA Background

Facilities

The best Premier Hotel in Port Harcourt is an international standard Four Star Hotel which is a market leader in Port Harcourt and environs. It is well maintained and boasts of a clientele of the leading Oil and gas companies and Power generation and distribution companies and their support services companies. The owners of the hotel have decided to spin-off this hotel as a result of a change in their corporate strategy.

Functional facilities in the Hotel include; INDOOR • Reception

LODGING • Presidential Suite

• Lounge

Hotels in Port Harcourt

• Bar

• Junior presidential • Board room Suite • Meeting Room • Suite

* The hotel industry in Nigeria boasts about 7,000 hotels and 245,000 rooms ranging from the luxurious five star to smaller one star hotels * The industry raked in revenues of N562 billion in year 2014 with 63% being from room rentals. (Agusto Research)

• Restaurant • Kitchen • Store

MEETING • Banquet hall

OUTDOOR • Tennis court

• Superior room

• Terrace Bar/ event centre • Parking • Gymnasium • Security House

• Lounge

• Administrative block

• Laundry

* Hotels and tourism contributed N1.56 Trillion being the equivalent of 1.75% of GDP in 2015. This is expected to rise to 2.4% in 2016 and subsequently to 5.8% in 10 years. (Office of Statistics)

Facilities which are under various stages of development include;

* Hotels have been concentrated in the cities with the highest level of economic activities. Lagos has 21 five start hotels, Abuja has 6 and Port Harcourt can boast of four.

• Swimming Pool

• Cinema Hall

• Events Hall

• 40 Rooms

• 3 Board /Meeting rooms

• 3 Office Apartments

* The leading hotels in Port Harcourt which compete with Best Premier hotel include; * Novotel

* Le Meridien

* Golden Tulip

* D-Edge hotel

* Presidential Hotel

* Best Premier Hotel

The Opportunity

• Tennis Court Bar Expression of Interest Expressions of interest should reach the advisers, Brisktrade Investment Limited latest by close of business on 12th October 2016. Such EOIs should be written and addressed on the letterhead of the prospective acquirer. It should state the following details; • Name of company

• Line of business

We present an opportunity to acquire an excellently developed four star hotel in the cosmopolitan city of Port Harcourt, Southern Nigeria. The hotel previously flew the flags of;

• Turnover in the last three audited financial years

• PROTEA and

• Whether quoted on any exchange

• BEST WESTERN (PREMIER) brands.

This opportunity provides the acquirer with the following advantages; * Well built and maintained four star hotel * Existing Clientele in the Oil and gas and powers sectors * Eliminates development activities and provides instant market entry * Excellent management and hotel staff * Excellent location in Port Harcourt The Asset The hotel is situated at KM 27 Aba-Port Harcourt express way, on a piece of land measuring an area of 4,000 m2 with a gymnasium, lawn tennis court, conference rooms and shopping facilities. It has all the amenities of a standard four star hotel. It has two stand-by generators and inverters totalling a capacity of 547.5KVA.

(In the case of individuals, Statement of Net worth attested to by your bankers) • Any strategic affiliations with foreign equity holders • Date of incorporation and RC number • Name and contact details of primary contact Next Steps On receipt of a satisfactory EOI from a prospective investor, such investor will be given the opportunity to conduct a site visit to the hotel, will be given access to the corporate documents in the virtual data room (VDR) and be requested to submit a bid within the stipulated timelines indicated in the VDR. Contacts: Brisktrade Investment Limited 21 Ajasa Street Onikan, Lagos Telephone: +234 1 270 8251 Email: aagbalugo@brisktradeng.net

Primary Contact: Wale Olagundoye Managing Director Phone: +234 1 270 7576, +234 703 000 7027, + 234 809 945 4423 Email: wale@brisktradeng.net

T H I S D AY • WEDNESDAY, OCTOBER 5, 2016

MIDWEEKPOLITICS

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

THE NEWSMAKER

How Bello Broke Kogi’s 12 Years Jinx For 12 years, Kogi State did not participate in the nation’s Independence Day celebration for some inexplicable reasons. But that stopped this year as Governor Yahaya Bello of the state joined the rest of the country to mark the nation’s 56th Independence Anniversary, writes Yekini Jimoh

Bello...getting down to the business of governance

he celebration of Nigeria’s Independence Anniversary has come and gone, but the event was unique to the people of Kogi State, particularly students, who trooped out in their thousands to grace the occasion. The last time they savoured that experience was 12 years ago. That was in 2004, when Alhaji Ibrahim Idris held sway as governor of the state. Due to the political crisis that engulfed the state at the time, Idris, till he left office sometime in December 2011, did not encourage any national celebration. Also, when the immediate past governor, Captain Idris Wada came on board, he equally shunned May Day and Independence Day celebrations for reasons best known to him. But the present administration under the leadership of Alhaji Yahaya Bello took the bull by the horn, when he celebrated Workers Day in May this year and equally celebrated the Independence Day with the people a few days ago. Some political analysts, who spoke with THISDAY, said it was a good step in the right direction. According to them, some pupils and students born 12 years ago, did not witness any Independence Day celebration. Bello, who was delighted with the turnout of people during the Independence Day celebration, which took place at the Confluence Stadium, Lokoja, took his time to tell the people of the state, some of the problems confronting the nation and Kogi State in general. According to him, Kogi and other states that make up the federation are not insulated from the malaise of bad leadership, which has truncated the aspirations of millions of Nigerians. “It is the same story everywhere, replicated on different scales. Some have it bad, some have it worse, but every state has had its share of dream-killers masquerading as leaders.

“The sad state of the Nigerian nation is a dilemma, which presents both threat and opportunity. It is a threat if we allow things to continue the same way. On the other hand, it presents us with an incredible opportunity if we take the diagnosis of poor leadership and cure ourselves of it. To do that, we need to embrace new and better ways of doing things. Put simply, we need to change. “I, Governor Yahaya Bello of Kogi State, I’m a change agent. I decided on change when I

Some thought I should let it wait till after the cases in court are disposed of. I refused because that would be cowardly and insincere. We must do what we believe is right, irrespective of the consequences. I stayed the course because I decided on change long ago. All the same, I will be very glad when that exercise is concluded and forgotten,”he stated

joined the campaign of President Muhammadu Buhari despite the danger. I decided on change when I ran for Governor of Kogi State despite the odds. I have decided on change in the way and manner my administration will run the affairs of Kogi State. “Change has a considerable psychological impact on the human mind. To the fearful, it is threatening because it means that things may get worse. To the hopeful, it is encouraging because things may get better. To the confident, it is inspiring because the challenge exists to make things better,” he said. Bello said missed opportunities in the state, and all over Nigeria for that matter, are traceable to poor and uninspiring leadership of the past, adding that now that they had identified the problem, it was time to look ahead. “The easiest thing in life is to blame even as we keep making the same mistakes ourselves. The more excellent way is to hold those, who have done us wrong accountable for what they did in the past while taking responsibility for our own actions, making sure that all we do in the present leads to positive change in the future. “Here, in Kogi State, and as part of our accountability project, we are empanelling a Judicial Commission of Enquiry headed by a retired jurist of impeccable integrity to look into the management of our finances by previous stewards. Their terms of reference will date back to 2003 upwards to ensure sufficient scope. “The Panel is not just to find what went wrong and recover what is missing or stolen but to assist us in fashioning institutionalised means of preventing a recurrence. We want to inculcate a tradition of preventing theft, not chasing thieves.” On the staff screening and verification exercise,

the governor said it has been particularly hard on everybody. “Uncharitable folks imply it has not affected me in any way. They do not understand that a leader’s favorite meal is the approval of his people. My decision to forge ahead with the sanitisation of the Kogi State wage bill made me very unpopular at a time I needed to appear well-liked by you. “Some thought I should let it wait till after the cases in court are disposed of. I refused because that would be cowardly and insincere. We must do what we believe is right, irrespective of the consequences. I stayed the course because I decided on change long ago. All the same, I will be very glad when that exercise is concluded and forgotten,” he stated. He stressed that the Supreme Court of Nigeria decisively ended the election petitions which had trailed his administration even before he was sworn-in. According to him, the verdicts marked the defeat of colonising forces which had designs on Kogi State. “They symbolise the independence of Kogi politics from the grip of external influences. Na God Win o! We thank God because it is all over. Of course, I am happy at the Supreme Court judgments, not only because the verdicts were all in my favour but also because our people will no longer have to troop to Abuja every few weeks to attend court hearings,” he said. Bello noted that he had made many calls since the day of that final verdict urging everyone, who may have any grievance against his mandate to lay their agitations to rest. “It is time for us to leave the past behind and lay hold on the future together. I invite all Kogites to close ranks with me, so we can take our state to the heights I know she can attain. We are better together,” he appealed.

T H I S D AY • WEDNESDAY, OCTOBER 5, 2016

PERSPECTIVE

MIDWEEKPOLITICS

Is Tinubu Right or Wrong? Bola Tinubu’s call for the resignation of the National Chairman of the All Progressives Congress was genuine and in collective interest, writes Abiodun Komolafe

ola Ahmed Tinubu’s call on John Odigie-Oyegun to resign as National Chairman of the All Progressives Congress (APC) for allegedly derailing from the path of progressives continues to generate diverse opinions in the polity. The call, rather than being misconstrued by Tinubu’s antagonists should be seen for its altruistic value and content. It is about saving the soul of a ruling party that is still in its embryo. But, while waiting to see how circumstances eventuate, some questions keep bothering me and if they are answered dispassionately, they may help put the understanding of the issue in proper perspective. Before all else, was Tinubu wrong in endorsing a candidate? Better put, did he, as the National Leader of a foremost party, do something he ought not to have done by allegedly asking all the aspirants to work for his preferred choice (Punch, September 3, 2016)? Also, and, in fairness to the facts, is Tinubu gradually losing out in Nigeria’s political space and what is the way out? As a matter of fact, what has become of the ruling party in so short a space of time and where lies the place of its founding fathers in all of this? Well, while I may be insufficient at supplying answers to these troubling questions, until proven otherwise, I hold the notion that Odigie-Oyegun was either misunderstood, misrepresented or used by some principalities higher than him. Again, until there is evidence to the contrary, I am also of the firm belief that President Muhammadu Buhari is too decent a leader to be involved in these messy and rather childish tricks that take nobody anywhere. Having said that, Nigerians will agree with me that, on a good day, the forthcoming governorship election in Ondo State is a rare privilege for APC to present itself as a party of choice to the electorate. It is also an opportunity to test the waters a la Nigerians’ acceptance of its policies and programmes, preparatory to 2019. With the situation of things, however, one can only pray it would not mess it up on the altar of some unbelievably selfinflicted wounds. From all indications, Mimiko as the Contestant-in-Chief looks well-prepared for the battle ahead and this ought to have spurred the opposition into going into the race with a formidable team for the overall purpose of enriching our democratic process. With Eyitayo Jegede, from a senatorial district which, among other considerations, is noted for having the largest chunk of voters, as Peoples Democratic Party’s (PDP) governorship candidate; and John Ola Mafo, from an axis notorious for political characterisations similar to Alimosho in Lagos State, Oke Ogun in Oyo State and Florida in the United States of America, tentatively as Jegede’s deputy, the battle line is already drawn! While the import of these should not be lost on objective observers, we also need to bear in mind that Goodluck Jonathan, as fate would have it, is no longer in power. Impliedly, November 26, 2016 will most certainly follow a path different from the experience in Ekiti and Osun States in 2014. Little wonder, the outgoing governor has been running upandan to bung any inadequacy that is within his powers. Kazi Shams was right when he described “half a truth” as “a whole lie.” From a state of denial to an overflowing scourge of anger, the troubling truth is that we deceive ourselves a lot in this country and this adds more confusion to the course of questions! Much as we would pretend not to know, life itself is full of lessons. It is also full of surprises. But, if care is not

Tinubu and Atiku in warm embrace. The former vice-president also thought Tinubu was right. Is this some kind of opportunity to genuinely reunite

taken, one may concentrate more on the ‘surprise’ aspect of life to the detriment of its lessons. Anyway, since memories are real, those who wish to be unnecessarily emotions and sentiments-driven should pause a bit and ponder the roles of Pharaoh in the life of Joseph (Genesis 45:46); King Xerxes in Mordecai’s (Esther 10:3); Melchizedek in Abraham’s (Hebrews 7); the Widow of Zarephat in Prophet Elijah’s (1 Kings 17: 7-16); and ask Nigeria’s exceptionally good liars what they would do better should they find themselves in Tinubu’s

Anyway, since memories are real, those who wish to be unnecessarily emotions and sentimentsdriven should pause a bit and ponder the roles of Pharaoh in the life of Joseph (Genesis 45:46); King Xerxes in Mordecai’s (Esther 10:3); Melchizedek in Abraham’s (Hebrews 7); the Widow of Zarephat in Prophet Elijah’s (1 Kings 17: 7-16); and ask Nigeria’s exceptionally good liars what they would do better should they find themselves in Tinubu’s shoes before casting the first stone

shoes before casting the first stone. Again, if history is an oracle, we must consult in order to determine the future, then, we need not forget in a hurry that, once upon a recent experience in Nigeria, Ibrahim Babangida, in crude and rude connivance with some military top brass, not only endorsed Olusegun Obasanjo, they also ensured that he succeeded Abdusalami Abubakar as Nigeria’s president. Adams Oshiomhole stood by Godwin Obaseki at the just-concluded governorship election in Edo State. Even, Rotimi Akeredolu, the man in the eye of the storm, reportedly had his campaign “bankrolled by Atiku Abubakar and some APC bigwigs” (Vanguard, September 28, 2016). But for the luxury of time and space, one can go on and on! So, who’s fooling who? To some schools of thought, Tinubu ought to have read the tea leaves correctly, especially, given that the contestants paid to obtain Expression of Interest and Nomination Forms. Well, since the rules of natural justice are so fundamental that they don’t have to be legislated, OdigieOyegun’s interview in Punch, August 21, 2016, has, in my considered opinion, settled that! Yes! Nigeria is in challenging times and conventional prescriptions for her ailments ought to be of interest to us as Nigerians. But, in the midst of the monstrosity of the corruption that has tragically become Nigeria’s defining characteristic, Tinubu comes about as one leader, who has given deep meanings to democracy. Like him or hate him, he is a politician, who has attained an unprecedented level of political sophistication that can radically influence the perception of governance in this once-so-beautiful-but-now-badly-damaged microcosm. His gift of being able to make the right choices is superb as one could see in his preference for Babatunde Fashola and Rauf Aregbesola as Lagos and Osun State Governors respectively. With the benefit of hindsight, Fashola not only performed, he eventually became the APC poster boy in the last election. And while Aregbesola,

on his part, has succeeded in unselfishly redefining governance in my home state, he is also patriotically preparing the ‘Land of Virtue’ for the future and, when its fruits blossom forth – they will be to the gapes of Nigerians. Another worthy example of Tinubu’s ability to identify talents is his choice of Akinwunmi Ambode as Fashola’s successor. Surely, Ambode’s ongoing silent revolution in modernising Lagos, especially, with the expansion of road networks and redesigning of bus stops to ease traffic congestion is a step in the right direction. Kudos must also be given to this forward-looking Nigerian for making Buhari’s aspiration possible after three futile attempts. And, do we need to discuss the success of his business ventures? Without being immodest, facts on the ground have already spoken! For the patriotism he has expressed as well as his enormous contributions to the development of democracy in Nigeria, methinks this sagacious and perspicacious politician deserves encouragement, not disparagement; and solidarity, not brickbats. From my perspective, politics as a game of interest and numbers goes beyond votecasting and party affiliation. Maybe that’s why some people see politics, especially in Africa, as ‘the shortest road to financial freedom.’ The point I am trying to make here is that though, the system in vogue in Nigeria may, at the moment, be defective and frustrating, all through history, those who came out of it smoking were those who were able to master its ‘by-the-minute’ difficulties, frustrations, and, not unexpectedly, its success stories while those who could not have always had themselves to blame. And that’s the real deal! Finally, let’s pray that life, times, even travails of Bola Ige would treat our leaders to some salient lessons in season. May powers and personalities, assigned to derail Nigeria’s beautiful destiny, wither! -Komolafe wrote from Ijebu-Jesa, Osun State

WEDNESDAY, OCTOBER 5, 2016, • T H I S D AY

FEATURES

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

A Cry for Justice

Chiemelie Ezeobi writes that the victim of domestic violence in the hands of her estranged husband, a banker, has cried out for justice and has garnered support from Project Alert Violence Against Women

t's a case of love gone awry, so much so, the man in the relationship, Mr. John Edobor resorted to battering his estranged wife and mother of his three kids, Mrs. Ivie Edobor, thereby making her a per amber fixture in the hospital as she undergoes countless surgeries to put her life together again. Married for nine years, the couple had however separated for two years, which notwithstanding, saw the man go to his estranged wife's house to batter her, shattering her leg in the process. The accused, a staff of Zenith Bank Plc of Risk Management Department, had kicked the victim out of their matrimonial home in Ajah two years ago, alongside their three female kids. Two years after her husband, a banker, kicked her from her house and later turned up to maim and batter her, Ivie Edobor, a mother of three, has cried out for justice after he was left out on bail without further recourse to her condition. Taking to her Facebook wall, she accused her estranged husband, John Edobor, of attacking her and battering her legs, while she was in the process of seeking for divorce. Given the publicity the news garnered, some public spirited individuals, chief among them the Project Alert Violence Against Women (VAW), a non-governmental organisation targeted at fighting the menace of domestic violence against women, rallied round her and took up the case. Already, barely a week after she cried out, the case was taken back to court with four lawyers representing her from non-governmental organisations and on Tuesday, September 27, 2016, the matter was adjourned till November 10, 2016. Her Story After fighting her battles alone without yielding result, she decided to share her problems to the world. Tagging the Project Alert Facebook wall for help, the mother of three wrote, "Dear friend, to shed more light on my ordeal, this is my story. Two years ago, my husband kicked me out of his house along with my three daughters aged nine, seven and four. "I was forced to move back to my father's house and struggled to provide for my three children as he completely neglected them and even took them off his medical insurance provided by his office Zenith Bank Plc. After much struggle, I finally got back on my feet. Got a great job, enrolled my kids in a new school and rented an apartment for my three kids and I. "About Easter time this year he decides he was to be part of my children's life again. I allowed him access to the children as I felt we could be civil to each other for the sake of our children. At this time, I had started putting my documentation together for the divorce process.” Further breaking her story down when contacted by THISDAY she said, "I have been married legally to my husband John Okeikhan Edobor staff of Zenith Bank Plc, Risk Management Department Head Office for nine years though separated for the last two years. In 2014 to be precise, my husband of seven years then kicked me out of our matrimonial home. Why you would ask? I had been running a diaper and household consumables business. Importing the products myself and also buying from other dealers. "The business thrived to the point where I felt it was okay to expand. I got loans from different people and finance houses to enable me run the business properly. Unfortunately, the business failed and I ran into big debts. On this premise, my husband of seven years John Edobor kicked me out of his house saying he would have nothing to do with me till all my debts were cleared. He threw my things out in the middle of the night with the help of his younger sister while my children cried especially my last daughter who was two years old at the time. For two days I slept in my car, hanging around hoping that he would change his mind and allow us work through it together. "Instead he asked me to come and pick up

Ivie...a single mother cries out for justice

my three daughters else he will send them to the village. I picked my three children with a few of their things and left his house. Luckily, his cousin (late now) and godfather to my last daughter who was also living in the Ajah environ took my children and I in for a few weeks. "When my husband found out he quarreled with his cousin till my children and I were forced to move again. You might wonder why I remained in the Ajah environ; it was because my children attended school there and were in the process of writing exams. Secondly, my father’s house was on the mainland and would be difficult to keep up with school runs. "I therefore decided with nowhere else to go, to lodge at a hotel with my three children close to their school. For three weeks, we stayed and went to school from the hotel till exams were over and I moved finally back to my father’s house. On getting back to my father’s house, we struggled to survive as the rest of my unsold goods remained in my husband’s house. "After much pleadings, he asked me to come over and pick all my things, the goods inclusive. With the help of my father, I was able to get a

Three months and two surgeries after the deadly attack, I believe I had given John enough time to retrace his steps but my being quiet battling for my life was being perceived as weakness. As I write you now, my hospital bill is yet to be paid. I have lost the use of my right leg though with physiotherapy and loads of follow ups the doctors are hopeful that I will walk again. I am unable to walk and thus unable to carry out my duties effectively at my place of work

John Edobor...allegedly abused his estranged wife, Ivie

truck to pick up all my goods but on getting there, my husband packed up every single item belonging to my children including their pictures hanging on the wall of the house and threw them at me telling me that he wanted nothing of ours in his house. "He also informed me that we no longer existed to him that he would start a new family with a woman that would bear him a son since I had just daughters. He did move in with his lover, a divorcee with a daughter and even posted explicit pictures of them on his Facebook and WhatsApp wall to get to me. I sold all the goods and all my jewelry including my wedding rings to pay off my debts and also provide for my children. "God sent me a helper in my brother-in -law (my sister’s husband) who magnanimously assisted in clearing up my debts. For two terms my children and I will make the tedious journey from Orile Iganmu on the mainland, to Ajah for the children to attend school since their fees had been paid for the session. We would hit the road by 5am and make it to school before 7am. I would then allow the kids some time to sleep before tiding them up and sending them off to school. "Then I will hang around till 2pm when I would pick them up and we will do the journey back to the mainland, there were times when my kids and I would get home by 9/10pm spending all the time in traffic trying to get home. Most times their homework will be done in the car. I remember asking him for the fees of my last baby as it had not been paid, but he insulted me, telling me that the kids were now my responsibility and I should sort the fees out myself. Again, I had to provide for my child without his help. "We survived this time and when the session ended, I decided that the kids will no longer attend the school at Ajah instead I will get them a good school on the mainland so they didn’t have to journey to school and back. In all this time, my husband and his family never bothered about us or bothered to visit the children. I didn’t hear from my husband again apart from insults and abuses till September 2015 when the new session began. "Apparently, my husband had expected me to ask him for the kids’ school fees. When I didn’t, he went to the children’s school in Ajah to ask for them but was informed that my children were no longer in the school as I had informed them that I was changing their school to one closer to us on the mainland. It was at this point John called me asking why my children were not in school that he had gone to pay their fees for the first term and was told my

children are no longer at the school. "I immediately informed him that I had gotten them a new school in Surulere to be precise and their fees for the session paid in full. I got a good job heading the Human Resources of a telecoms servicing company and life became better for my children and I. They went to school regularly, ate and played like normal children would. I ensured they lacked nothing. After two terms, about a year and some months after being kicked out of my matrimonial home, I rented an apartment in Surulere for my children and I so life could be a lot easier especially with their school being in Surulere. "Just after Easter this year, just about the same time I moved into my own apartment with my children, my estranged husband went to my father’s house by 5am asking to see us. But before this time, he had been calling me and asking for us to settle our differences but I insisted that I had moved on but for the sake of our children I would be civil with him. I had even allowed him to start speaking with the kids on the phone but no contact. "On getting to my father’s house, my father informed him that I was no longer staying at his house but that I had moved to my own place with my children and two house helps. After much persuasion and appealing I told him where I lived and after some time he came to the house and saw the kids after such a long time. I really did think he was genuine. Although our marriage to me had ended especially as he had moved on with another woman I still agreed to be civil with him for the sake of our children. "On one occasion I had allowed the kids stay with him for the weekend, my first daughter called me and was in tears on the phone to tell me that her father had called them and proceeded to interrogate them if a man stays in my house with me or comes to visit. He even went as far as asking my house help, who was with my kids to call him anytime a man is in my house so he can come there. "When they came back home I challenged him on that and told him our marriage was over and that I would go ahead to process a legal separation. He apologised for his actions and asked to be part of my children’s life and upbringing. As what I thought of as a sign of good fate, he paid their fees for the first term 2016/2017 session. "On June 18, 2016, my father turned 72. My sister and I decided to throw him a small house party. We all went to my dad’s house and spent the day with him. I arrived back at my house with my children and house helps at about 7pm. I settled my kids at home.

WEDNESDAY, OCTOBER 5, 2016, • T H I S D AY

FEATURES

The injured leg

"At about 8pm a friend of mine came to pick me up as we had a function to attend and I wasn’t willing to drive at night since the function would go on till late. We left the function at about 1am and arrived in front of my compound gate by 1.20am. Early hours of June 19th on my way back from a function, a friend had parked right in front of the gate of my apartment to press the bell for the gateman to open the gate and let me into the compound when suddenly he was rushed at and attacked by a man waving an object. "The first impression was that it was an armed robber trying to rob us. My friend (a man) pushed him away but he came charging back; at this point I looked out the opened door and realised it was John Edobor my estranged husband. Before we could react a group of area boys showed up but rather than saving us from the assailant, they joined him. "They proceeded to beat my friend to the ground giving John the opportunity to focus his attack on me. He used a metal bar (wheel spanner/metal rod) to try hitting me on the head through the opened drivers door but I shielded it. Not satisfied with that, he turned to the passenger's door and dragged me out to the ground. I landed on the ground with my legs extended where he proceeded to hit me on the leg continuously with the metal. "When he was satisfied he was about going back to join the area boys, who had gathered around my friend when my neighbour who had heard my screams for help and saw from his window a man striking someone on the ground. Thinking it was an armed robber, he jumped down from his balcony with a machete to save whoever was being attacked. "On getting down he was faced with my estranged husband whom he had prevented from entering my compound without my permission on two occasions, so he recognised him. It was at that point he overpowered John. The area boys recognised him (my neighbour) as a member of the security team for the street and backed off my friend. He was searched and a dagger was also found on him. "By that time I couldn't stand up and my leg was bleeding profusely. I was rushed to the hospital where my jeans was torn off my leg to see the nature of my injury. The injury was so severe that my broken bone torn through my skin puncturing an artery in the process. I had even lost some of my nerves on my foot. At a point the doctors had contemplated cutting off the foot as gangrene had started forming on the toes. God being so good, the orthopedic surgeon decided to take a chance to perform the surgery on the leg even if the artery wasn’t completely healed. "Almost three months and two surgeries later, I have titanium plates and screws to keep my leg in place and I am unable to use my right leg. I still have my three children to care for and my life is at a standstill. The perpetuator was charged to court and released on bail three days later. Now he moves around freely carrying on with his life. Now, is it wrong for me to cry for justice?" "While in hospital, I gathered that John was arrested on the night of the attack and charged to court by the police the next day. He was granted bail and released three days later. Ironically, the day he was arrested, his family (mother and sisters) that I hadn’t seen or heard from since he sent me packing; arrived Lagos that same day. They saw him at the police

The x-ray of the broken leg

station and proceeded to the hospital to see not necessarily concerned about my injuries but to ask me not to charge the case to court. While John was at the station he kept on sending threats and demeaning messages. "Upon his release by the court, several times he tried to gain access to me at the hospital. By this time, my neighbor who saved my life that night had become a permanent fixture at the hospital protecting me from further attack by John. Why wait three months after the attack to speak up you might ask? While I was battling for my life in the hospital, I had considered my children and the stigma they may pass through if their father were to be thrown into jail and I decided to keep calm and focus on my health and my life. At this time my family (father in particular) and my husband’s family had been trying to mediate. Even to the point of trying to sweep the case under the carpet. "All this time John continued to exhibit arrogance acting as if paying the hospital bill was a favour to me. I’m not talking about his further threats, lies and even insults from him and his siblings. Now three months and two surgeries after the deadly attack, I believe I had given John enough time to retrace his steps and my being quiet battling for my life was being perceived as weakness. "As I write you now, my hospital bill is yet to be paid by the perpetuator. I have lost the use of my right leg though with physiotherapy and loads of follow ups the doctors are hopeful that I will walk again. I am unable to walk and thus unable to carry out my duties effectively at my place of work. I’m currently on compulsory sick leave till I can get back on my feet unfortunately this will take some time and I am not sure how long my employer will be able to wait for me to recover as my date of full recovery is yet to be known not even by the doctors. "I reached out to his employers via phone text and even email (Zenith Bank Plc) and nothing was done. My question now is, how do I provide for my three children my husband deserted two years ago and I have singlehandedly provided for as a single parent? How is it possible that

It's very clear that her estranged husband went to her house with criminal intent. After being separated for two years (since 2014), during which time she moved back to her father's house with her three daughters until April this year when she finally got a place of her own; why would he go and wait outside her house up until midnight if he didn't have something up his sleeve

Acting IG, Ibrahim Idris...should ensure that Ivie gets justice at the end of the day

the perpetuator of such a violent act moves around freely while my life is at a standstill. I want justice served please. I want my bills paid. "My children provided for as in upkeep, fees and even the house rent now that I am unable to carry out my duties as a single parent and professional due to the injuries inflicted on me by John Edobor. I also want the immediate dissolution of our marriage with me having full custody of my children. And finally, I want him punished by the law for carrying out such a premeditated attacked on me." The Accused's Plea Although attempts to reach the accused person proved abortive, THISDAY however got some screenshots of his pleas to his estranged wife. In the message purportedly emanating from him on June 21, two days after he had beaten her up, he said "Ivie, losing my job is not everything to me. Whatever happens and the court decides to jail me will not be forever. "So if after apologising for my mistake which was caused by Matthew, you decided not to forgive me, it's okay. Life will continue. Well, I am still asking for your cool anyway. Your leg will heal and I am ready to foot the bill. But you know I did not cause it but it's left for you to stop all these now and not jeopardise our lives. "Ivie, please am sincerely sorry for the problem and Almighty God will heal you in Jesus name. Amen. Please forgive me." However, from all indications, the bills he reneged on his promise to take care of the bills as they are yet unpaid till now. Meanwhile, she wrote to the bank officially on September 2, 2016 after she had contacted them on Wednesday, August 31, 2016, to complain about their staff. The Medical Report The medical report from Toki Medical Centre, Surulere, where she was rushed to after she was beaten, confirmed that she was rushed to the hospital on June 19. The report said she had a swollen limb which was bleeding from two punctured injury sites with crepitus on palpitation. The report, which was signed by Dr. Egbuonu CF, the Medical Officer, stated that after a tentative diagnosis of fracture of the right tibia was made, a further evaluation showed a comminuted spiral fracture of the proximal third of the tibial shaft and a non- comminuted oblique fracture of the proximal quarter of the fibilar shaft. "She is currently being worked up for an Open Reduction and Internal Fixation (ORIF) surgery once the wound heals and the inflammatory process reduced," the report further read. Medical Bills Pile Up Already, the medical bills as seen and obtained by THISDAY stated that as at August 3, 2016, the payment to be made was at N3, 297,600. A further breakdown of the bill stated that N1.5million was for surgical management/anaesthesia/theatre fee, while physiotherapy (N7,000 x 20 sessions) gulped N140,000 and orthopaedic consultation was pegged at N30,000. The scotch cast (x2) was billed at N30,000, while the hospital professional fee was billed at N200, 000. Also stated in the bill was the money for hospital admission (from June 19- August 12), which was pegged at N870,000, while that of investigation (laboratory) was pegged at N31, 500, and for the x-ray N40,000, while the CT Scan gulped N36, 100 and antibiotics also pegged at N420,000.

Project Alert Steps In When she got wind of the incident, the Founder and Executive Director, Josephine Effah-Chukwuma, Project Alert on Violence Against Women (Project Alert VAW), as she was wont to do, she stepped in. Thus, Project Alert VAW went on a fact finding visit to Ivie Edobor sequel to her story of almost being killed by her estranged husband John Edobor of Zenith Bank. On her Facebook wall she wrote the details of the visit. She said, "In the team were myself, Benjamin Ocholuje Odeh (Head Legal); Maymunah Garuba Kadiri (Psychiatric Doctor and Psychologist) who is an associate and Christy Dokubo Adelakun, a friend of the house. "We met Ivie in her living room and there she told us her story. It's very clear that her estranged husband went to her house with criminal intent. After being separated for two years (since 2014), during which time she moved back to her father's house with her three daughters until April this year when she finally got a place of her own; why would he go and wait outside her house up until midnight if he didn't have something up his sleeve? "Why did he seat in a nearby bar to buy drinks for area boys while telling them that he stays abroad and rented the house for her and got information that men visit her? He got the sympathy of the area boys with the help of alcohol and they joined him in attacking Ivie and her friend. "For the records, the house is rented and paid for by Ivie only. John had no business lurking around there. He had thrown her out of their matrimonial home in Ajah in 2014 along with their three daughters (maybe because she had no son). She moved on. He too moved on (or so she thought) as according to Ivie he now lives with a woman and even sent her some pictures. So why stalk her and attempt killing her? "The case has been charged to court and Project Alert will be hold watching brief. We invite as many NGOs as possible to join us. Real Offiong, Kate Henshaw I will chat with you with regards to Ebun Olu Adegoroye. Apart from the criminal aspect, there is also the civil angle to look at. #justiceforIvieEdobor Referring to Camille Johnson, who was shot and killed by estranged husband abroad, she said, "I am going to place this here for all those who with their warped minds dared to justify the attempted murder of Ivie Edobor by her estranged husband and father of her children. It makes me real sick when human beings think, talk and act like non - humans. "When Ivie 's story broke on the social media two days ago, some very sick people said what was she doing out with a man at 11pm? How wicked and depraved can people be? Why wouldn't she move on with her life? Why should she be imprisoned because she had a husband and now has children? Why can't she have a life after the marriage and be in a relationship? "Does that give the estranged husband the right to lay ambush for her and attack her to the point of almost killing her? If being in a relationship other than the one you signed the dotted lines, is an offence punishable with assault occasioning harm and attempted murder, honestly 95 per cent of Nigerian men will be maimed and killed by women. This madness must stop. When it is over, it is over. Move on. We are standing by her and supporting her in the fight for justice."

IMAGES

WEDNESDAY, OCTOBER 5, 2016, â&#x20AC;˘ T H I S D AY

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

R-L: Acting Managing Director, Nigeria Social Insurance Trust Fund (NSITF) and guest speaker, Mr. Ismail Agaka; Vice-President, Chartered Institute of Personnel Management of Nigeria (CIPM), Mr. Udom Uko Inoyo; Registrar/ CEO, Mr. Sunday Adeyemi; and the National Treasurer, Mrs. Ifeoma Adeniyi, during the 23rd induction ceremony of the institute in Lagos...recently kola olasupo

L-R: Emir of Borgu, Niger State, Alhaji Sanni Mohammed Dantoro; Kwara State Governor, Alhaji Abdulfatah Ahmed; and Emir of Kaiama, Kwara State, Alhaji Muazu Sheu Omar, during a coutesy visit by the emir to the governor at Government House, Ilorin...recently

L-R: Guest of honour, Chief David Osho; chairman of the occasion, Mr. Paul Okomayin; and the President, Igarra Development Association (IDA), Mr. Mike Ukana, during the inaugural meeting of Igarra Development Association in Lagos ...recently dan ukana

L-R: Project Consultant and Managing Director/CEO, DD-IMC Limited, Tosin Bakare; Special Adviser to the Lagos State governor on Community and Communications, Kehinde Bamigbetan; and the Director, DDIMC, Kesiena Akoreh, during a media parley on Lagos State government market activation and roadshow experiential across Ibile divisions of Lagos State...recently sunday adigun

L-R: Second Vice-President, Nigerian Gas Association (NGA), Mrs Audrey Joe-Ezigbo; First Vice-President, NGA, Mr. Dada Thomas; Chairman/MD, Chevron Nigeria Ltd, Mr. Clay Neff; President, NGA, Mr. Bolaji Osunsanya; and the Director, NNPC/CNL JV, Mr. Monday Ovuede, during the NGAâ&#x20AC;&#x2122;s executive courtesy visit to Chevron Nigeria corporate office in Lagos...recently

L-R: Permanent Secretary, Lagos State Ministry of Home Affairs, Mr. Senayon Adeola Hundeyin; a student of Oshodi Senior High School, Onyekachukwu Joseph; Head of Marketing, Sosaco Nigeria Limited, Mr. Anudeep Sharma; Chairman, Lagos House Committee on Home Affairs, Hon. Abdul-Subur Olawale; and Head of Administration, Sosaco Nigeria Limited, Mr. Adeleye Adubi, during the presentation of cheque to the first prize winner of the 2016 Independence Day march past, at the Police College Ikeja, Lagos...recently sunday adigun

L-R: National Coordinator, Alliance for Affordable Internet, Ernest Ndukwe; Chief Executive Officer, Spectranet 4G LTE, David Venn; and Investment Officer, International Finance Corporation, Chijioke Gbolahan Egejuru, at the TMT Finance Africa Conference 2016 in Lagos...recently

New United States Department of Agriculture (USDA) Regional West Africa Agricultural Counselor, David Wolf (right), and the US Consul General, Mr. John Bray, at the wine-tasting event: A taste of America organised by the USDA in Ikoyi Lagos...recently

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BUSINESSWORLD R A T E S NIBOR OVERNIGHT 1-MONTH

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Group Business Editor Chika Amanze-Nwachuku

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Quick Takes Umahi Applauds CBN’s Programmes

The Governor of Ebonyi State, Dave Umahi has commended the Governor of Central Bank of Nigeria (CBN) Mr. Godwin Emefiele for his prudent management of the nation’s economy. Governor Umahi gave the commendation in Abakaliki, Ebonyi State last week at the gala night of the Finance Correspondents and Business Editors seminar that held in the state. Passing a vote of confidence on the CBN governor, Umahi said CBN was doing quite a lot as many states in the country would not have been able to pay salaries without the intervention of the apex bank. The governor also commended CBN on the Commercial Agriculture Credit Scheme (CACS) and Anchor Borrowers Programme (ABP). The governor said the country will not need to import rice anymore as CBN twin programme is helping Ebonyi to improve and enlarge its rice production. He explained that the state is evolving an agricultural scheme called “one man, one hectare’ so as to attain food security for the state and country. Umahi said to ensure that agriculture ventures in the state become profitable, a Chinese system of irrigation will be deployed, adding that the recession presents opportunity to diversify the economy.

CNBC Africa Launches on StarTimes Nigeria

CORPORATE GOVERNANCE ON THEIR MINDS

L-R: Chief Executive Officer, RTC Advisory Services Limited, Mr. Opeyemi Agbaje; General Counsel and Head, Listing and Regulation Division, Nigerian Stock Exchange (NSE), Ms. Tinuade Awe; Honourable Minister of Industry, Trade & Investment, Dr. Okechukwu Enelemah; President, NSE, Mr. Aigboje Aig-Imoukhuede, and Chief Executive Officer, ChapelHill Denham Group, Mr. Bolaji Balogun at the 2016 Annual Corporate Governance Conference in Lagos…recently.

PFAs Face Decreasing Economy Contributions Obinna Chima Nigeria’s negative economic growth largely caused by declining oil revenues, has led to nationwide job losses, failure of state governments to pay salaries, and a chronic shortage of new employment opportunities. Owing to this, pension contributions have declined sharply, analysts at CSL Stockbrokers Limited disclosed in a report. This could bring about a squeeze in total pension assets under management, which in addition may hurt Pension Fund Administrators’

ECONOMY (PFAs) revenues. In addition, the contributory pension law allows disengaged or voluntarily-resigned employees to withdraw up to 25 per cent of their accumulated contributions if unable to secure another job after four months. This, according analysts at the Lagos-based CSL Stockbrokers Limited, was expected to put additional downward pressure on fees charged on contributions, PFAs’ major source of revenues. “Confirming our view, a

few of the PFAs we engaged this week said that, of recent, withdrawal requests have been rising. Unemployment has been on the rise and further job losses in the coming quarters are more than likely, given the deteriorating macroeconomic conditions. By implication, there could be a squeeze in total pension assets under management, which in addition to shrinking PFA revenues, could potentially drag flows to the capital market,” they added. Global pension assets have grown significantly to $54trillion, the Chief Executive Officer

of the World Pension Summit (WPS), Mr. Chris Battaglia recently disclosed. According to him, in a lot of developed countries, pension assets are now more than 100 per cent of Gross Domestic Product (GDP). “Global retirement assets are growing in size and volume and a shift from defined benefits to defined contribution. In most developed countries, pension assets have also grown in relation to their economies. With great assets come greater Continued on page24

PenOp Calls for Clear Strategy on Infrastructure Investment Ebere Nwoji Pension Fund Operators Association of Nigeria (PenOp) has urged federal government to set out a clear strategy for investment of pension funds in infrastructural development. PenOp, said despite all the clamour for investment of pension funds in infrastructural development, it has carefully studied the terrain and has classified infrastructure investing as a clear headed class of investment. PenOp President, Longe Eguarekhide, in a chart with journalists at the world Pension Summit, Africa Special,in Abuja recently, described clear headed investment as investment that

PENSION needs clear and strategic thinking as to where the investor wants to go what to do first and what to do next. Longe said Nigerians have been clamouring for investment of pension funds in infrastructure while operators have taken time to discuss the possibility, the challenges but that the position of government has not been seen. “At the last session, we saw the challenges in investing in infrastructure but till date, the position of government has not been discussed or seen. We need to focus on it in clear detail. What really is the strategy for

infrastructure investing that is being considered. There are so many infrastructure themes that can be pursued. But what is the strategy to pursue them and if you don’t pursue it well, you can just be investing randomly and you can’t make impact. You can’t think without the presence of government because government is the ultimate owner of the assets. Infrastructure is hard core investing the objective of pension investing is not development financing,” he stated. According to Longe, there are various infrastructural projects that can be pursued but the strategy must first be considered by the government. He noted that it is true the

industry needs to diversify its portfolio investment such as in infrastructure development but that such investment must be clear headed investment. He added that until there is a clear strategy provided by government to enable pension operators and other stakeholders invest in infrastructure development, the issue will continue to be in the front burner. He noted that most outstanding projects that have not commenced or are yet be completed such as the second Niger Bridge is as a result of lack of clear strategy, adding that major projects take as long as seven years to come Continued on page 24

CNBC Africa, the continent’s leading business and financial news channel, has launched its services on StarTimes digital TV network across Nigeria on October 1, 2016. With the launch, CNBC Africa said it will be boosting its viewership in West Africa by about three and a half million new viewers. Head of Public Relations at StarTimes Nigeria, Israel Bolaji, noted that, “As a business, this addition means an exciting scaleup on our life enriching news channel options for esteemed subscribers and reinforces StarTimes’ stature as the fastest growing Pay TV network operator in Africa.” On Saturday, October 1st 2016, Channel 309 officially came live on 24-hour home of CNBC Africa, and will cater to StarTimes’ Basic, Classic and Unique Bouquet subscribers across Nigeria. StarTimes Marketing Director, Oludare Kafar, said: “The new channel will grant subscribers smooth access to various news and programmes which provide insightful business information, analysis and intelligence from seasoned anchors and experts both on the African and international financial markets.” Executive Director for ABN Group, Sid Wahi, stated that “CNBC Africa has had the best Pan African business content for well over 9 years now. Getting onto additional terrestrial platforms like StarTimes paves the way for us to reach new audiences in new markets.”

FRC Wins Award

The Financial Reporting Council of Nigeria (FRC) said it has been bestowed with the award of “Most Effective Government Agency” of the year on formulation and enforcement of accounting, auditing, actuarial and valuation standards in the country for 2016. This award was bestowed on the council by the Nigeria Media Nite-Out Award at its 10th edition ceremony for merit and excellence awards held in Lagos recently. In a Statement by the Council’s Media/Communications Consultant, Mr. Mack Ogbamosa, the award came in recognition of FRC’s consistent strives towards ensuring the entrenchment of good corporate governance in the country. “The award recognises and rewards government agency that has been most effective in performing its statutory functions as well as creating the right environment for businesses to thrive,” it added. Presenting the award to the Chief Executive Officer f FRC, Mr. Jim Obazee represented by Head of Administration , Alhaji Umaru Sanusi, the founder of the award, Mr. Sola Olugbemiro, described the award as a recognition of the council’s consistent strive to sanitise the country’s financial sector through enforcement of financial regulations.

“My suggestion remains that the government must create a fund that, based on certain parameters, can invest in the stock market. That will create liquidity in the market” The ExecutiveVice Chairman, Alpha Africa Advisory Limited

Mustafa Chike-Obi

T H I S D AY • WEDNESDAY, OCTOBER 5,2016

BUSINESSWORLD PFAS FACE DECREASING CONTRIBUTIONS AS ECONOMY SHRINKS responsibility. Assets of the 300 pension funds globally averaged nearly $14trillion,” he added. The Director General of the National Pension Commission (PenCom), Mrs. Chinelo Anohu-Amazu, had disclosed that pension fund in Nigeria stood at N5.8 trillion as at August this year. Anohu-Amazu said the huge asset was waiting to be invested in infrastructure where the nation currently suffered a huge deficit. “Investors will only invest in available products. PFAs in which they are to invest. We are now engaging stakeholders, we are now asking ‘why are you not developing these products? Over the years, we have amended our regulations to enable people come up with more products. We engage stakeholders and if we are convinced that our regulations are too stringent because of the level of our development, we need to loosen it up a little bit to encourage people to come in to produce more products, yes we will do that. But I think execution is our major challenge in the country,” she had said. PENOP CALLS FOR CLEAR STRATEGY ON INFRASTRUCTURE INVESTMENT to financial closure. According to Longe, the pension industry has demonstrated its willingness to invest in infrastructural development in the country by attending several meetings with the legislators, the labour groups, noting that the rules are not clear on this. He said that the industry cannot appropriate government assets and start investing in them, adding that government needs to articulate a specific direction for the pension operators to follow. He, however, noted that the industry operators are looking at commencing small size projects such as power projects that will assist small communities.

NEWS

Former Finance Minister Counsels Insurers on Consolidation Ebere Nwoji

A former Minister for National Planning and Finance, Shamsudeen Usman, has stated the need for insurance operators in the country to be forward looking and to work towards growing the size of the industry to ensure its meaningful contribution to the gross domestic product (GDP) of the economy. Shamsudeen, who stated this while addressing insurance operators at an insurance forum in Lagos recently, said the small size of the industry had hindered it from playing the role of a stabiliser in economic crisis. Citing reports from Agusto and Co, he said the balance sheet of all insurance companies is less than one third of one of the banks. According to him, there are certain characteristics of the insurance industry that actually makes it more of a stabiliser especially in terms of economic crises like we are going through in the country. He stated that the ability of the sector obviously to play that stabilising role depends on the size relative to the rest of the economy. He said: “Part of the reasons the Nigeria insurance industry has not played the stabilising role is about the size of the industry. The balance sheet of all insurance companies is less than one third of one of the banks. This tells the issue of the size. I was a deputy governor in the central bank when the consolidation exercise happened with credit to a former Central

bank Governor, Charles Soludo. “We went into a room and he made a presentation to the banking industry. Initially there was a lot of opposition. I remember when we were appointed to the central bank in 1999, there were 907 banks. The total balance sheet of the 907 banks was less than one of the banks today. A 100 per cent of 1 is 1. 10 per cent of 1000 is 100. So do you prefer a 100 per cent of a tiny little thing or 10 per cent of a big thing which can be 10 times the value of whatever you are getting? “I believe that the insurance industry itself has to be more forward looking into consolidation like it happened in the banking sector. Yes, many of you

are afraid to lose your position of managing director, executive director of a small corner. But I think the industry will achieve more if you can come together and get bigger.” The former minister however said that the industry has huge potential that it is yet untapped. “The potential even from the point of view of the economic theory is that there is a strong link between the growth of an economy and the growth of the insurance industry. This has been a subject of many as even the empirical studies in other countries partly because of the role again that the industry plays in economic growth and stability through improving the investment climate and promoting more efficient volume and

mix of activities. A number of research has shown that there is a positive closer relationship between the industry and the wider economy.” The former finance minister’s advice to insurers was coming on the heels of similar statement on the need for fresh consolidation in the industry by the Minister of Finance, Kemi Adeosun, who at the 2016 National Insurance Conference held in Abuja recently, said there was urgent need for recapitalisation of most insurance companies operating in Nigeria.Adeosun, had said it was necessary to increase the capacity of the industry and create opportunity for partnership and other strategic alliances within the system.

The minister, advised the industry operators not to see recapitalisation as a punitive measure but an opportunity to reposition for the future. Recapitalisation exercise, was carried out in the industry in 2007 when the minimum capital base of life underwriting firms was increased from N150 million to N2 billion , that of general business underwriting firms was pushed up from N200 million to N3 billion while composite that of composite firms rose from N500million to N5 billion, Reinsurance firms were asked to upgrade their minimum capital to N10 billion. The minister, advised operates to be ready to take risk since they are in the business to bear risks of others.

PROMOTING PENSION

L-R: Executive Director, Operations PAL Pensions, Mr. Godwin Onoro; Managing Director/CEO Mr. Dave Uduanu; Head Benefits Administration/ Pensions Services, Mrs. Ophelia Alex-Iwuanyanwu, Regional Manager South East, Mr. Chukwuma Amaonwu and Regional Manager, North, Mr. Olusegun Obende at the world pensions submit in Abuja…recently.

Ship Owners, Operators Petition NPA, Decry Outrageous Bills Emmanuel Addeh in Yenagoa Delta Shippers Association (DELSA), the umbrella body of ship owners, shipping companies and terminal operators in Delta ports, operating in Warri, Koko, Sapele and Burutu, on Monday petitioned the Managing Director, Nigeria Ports Authority( NPA), Ms. Hadiza Bala Usman, over what they termed outrageous pilotage bills for industrial boats and barges

operating within the country’s coastal waters. The body in a statement made available in Yenagoa, Bayelsa State, complained that boat owners were being compelled by an NPA agent to pay in naira in the prevailing black market rate, as against the Central Bank of Nigeria(CBN)’s rate. Signed by the association’s Secretary, Mr. Julius Ojeleme, DELSA argued that if not checked, the bills could accumulate to billions of dollars

which could negatively impact the Nigerian economy. “As a body we are not opposed to the payment of NPA statutory pilotage bills. We are not uncomfortable with the designation of the pilotage bills in United States dollars (USD). We also support the payment of statutory pilotage bills in Nigerian naira using the CBN official exchange rate to get the naira equivalent. “What we contest is the payment in naira, using black

market rate as the basis of conversion of the dollar equivalent as instructed by NPA through their agent. “We also posit that payments of pilotage by international vessels berthing in Nigeria should be designated in USD, as this is the international standard. “In the circumstance of a dwindling Nigerian economy, what would be paramount will be a policy that will help to strengthen the Nigerian Naira.

On the contrary, this NPA policy of paying Pilotage Bill in Naira but using black market rate is not only counterproductive but will obviously result in a more devastating economic situation,” it maintained. The body noted that it was unthinkable why a government agency will collect levies at black market rate and implored relevant authorities to prevail on the ports authority and their agents to put a stop to the obnoxious policies.

Group Business Editor

Chika Amanze-Nwachuku AgriBusiness/Industry Editor

Crusoe Osagie

Comms/e-Business Editor

Emma Okonji

Capital Market Editor

Goddy Egene

Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

Chinedu Eze (Aviation) Linda Eroke (Labour) Eromosele Abiodun (Maritime) Ejiofor Alike (Energy) James Emejo (Nation’s Capital) Obinna Chima (Money Mkt) Reporters

Nume Ekeghe (Money Market) Nosa Alekhuogie (Capital Market)

Stakeholders Call for Transparency in Aviation Sector Devt Chinedu Eze Stakeholders in the aviation industry have said that for progress to be made in the sector there should be sincerity of purpose and integrity in the initiation and implementation of policies. This was part of the resolutions in the communiqué issued at the end of the Aviation Transaction Integrity Summit organised at the weekend by Aviation Monitor Limited in Lagos, with the theme, ‘Enhancing Transaction Integrity In Nigeria’s Aviation Industry’.

In a keynote speech, Alhaji Adamu Abdullahi who represented the Minister of State, Aviation, Senator Hadi Sirika and the Director General of Nigerian Civil Aviation Authority (NCAA), Captain Muhtar Usman, charged service providers and airlines to ensure there is sincerity of purpose and transparency in their operation. He noted that the objective of embarking in any business is to make profit but in airline business, lives are involved, so without integrity these lives could be lost.Speaking at the event, the Chief Executive Offi-

cer of Belujane Konzult Limited, Mr. Chris Aligbe stated that any policy formulated for the public good without consulting the public or stakeholders is not in the interest of the public. Aligbe stressed the need for the NCAA to be fully involved in the process of airport concession if government actually had the intention to do so, adding, “NCAA staff should be trained on how to regulate airports under a concession arrangement before the concession exercise starts.” In his contribution, the President of Association of

Foreign Airlines Representatives of Nigeria (AFARN), Mr. Kingsley Nwokoma noted that stakeholders’ call for expansion of the apron at the Lagos international airport for over 20 years so as to have enough aircraft parking space, had not been yielded to but the former Director General of NCAA, Dr. Harold Demuren revealed that contract was awarded for expansion of the Murtala Muhammed International Airport apron while the contractor was paid, but that the job was never done. “There is a need for constant

engagement with stakeholders to enhance integrity in the industry. Also, we must do away with undue political interference and enthrone good corporate governance. Every stakeholder needs to exhibit integrity. Even passengers need to exhibit discipline and not abuse hotel privileges in cases of flights cancellations, where airlines have to book hotels for them,” he said. Demuren, who moderated the panel session, further called for a change in approach to engagements between workers’ unions and organisations.

T H I S D AY • WEDNESDAY, OCTOBER 5,2016

BUSINESSWORLD

ANALYSIS

Income Inequality, Poverty Remain Critical Issues Fifty six years after her Independence, widespread income inequality and poverty continue to persist in Nigeria, writes Obinna Chima

Broad street

As Nigeria marked its 56th Independence anniversary, concerns of widening income inequality and poverty have over the years, remained the defining challenges in Nigeria. Today in the country, the gap between the rich and poor is at its highest level as pervasive inequities in access to education, health care, and finance remain. Even President Muhammadu Buhari in a speech to mark the country’s 56th independence anniversary, admitted the unpalatable situation in things in the economy, saying that times are hard for many Nigerians. “I know that uppermost in your minds today is the economic crisis. The recession for many individuals and families is real,” he stated, adding, “I know how difficult things are, and how rough business is. All my adult life I have always earned a salary and I know what it is like when your salary simply is not enough. In every part of our nation people are making incredible sacrifices,” he had said. In fact, a recent report showed that the high rate of income inequality had skewed wealth and resources in the country away from the masses to the pockets of the top 20 per cent. The Financial Derivatives Company Limited (FDC), which stated this in its monthly economic bulletin, noted that given Nigeria’s level of development, such level of inequality was no surprise. Nevertheless, it pointed out that such a situation raises a cause for alarm.

As measured by the Gini Coefficient, Nigeria ranks second out of 16 West African countries, ninth out of 54 African countries and 26th out of over 190 countries in the world. Those at the bottom of the income pyramid in the country, who number over 100 million, brawl over a measly portion of the national income pie. From 2010 to 2014, Nigeria’s population grew by 12 per cent while Gross Domestic Product (GDP) rose by 54 per cent during the same period. This implies increased economic well-being and gains for GDP per capita. By 2014, Nigeria’s GDP per capita had grown to $3,203, a 38 per cent increase from 2010’s

Clearly, the variance between Nigeria’s GDP per capita and the actual average income of the population reflects the problem of income inequality

level of $2,310. Research shows that the minimum yearly income needed to sustain a living that provides the basics in Nigeria stands at $1,016 per year in urban areas (N203,000 per year or N16,900 per month) and $758 per year in rural areas (N151,600 per year or N12,600 per month). However, 74 per cent of Nigerians live below this income level. Out of this, some 40 per cent live under the poverty line i.e. live on less than $1.25 per day. This translates to N7,500 per month and N91,500 per annum, 49 per cent and 48.4 per cent lower than that required as monthly and annual income respectively. This has even worsened considering that the Nigerian economy is in recession. The National Bureau of Statistics (NBS) recently revealed that the country’s 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, as the number of job losses continues to rise. Clearly, the variance between Nigeria’s GDP per capita and the actual average income of the population reflects the problem of income inequality. Income inequality refers to the manner in which income is unequally distributed amongst the population. “Income inequality in Nigeria is so deeply

rooted into the very mechanics of the country that many have become desensitised to the problem and lost sight of its genesis. Firstly, the disparity in income is the result of a segmented labour market (into the formal and informal sector). Such segmentation also has its roots in the ailing public education system. “The direct relationship between educational level, skill, and income follows the basic principles of demand and supply; as there is a low supply of skilled workers relative to unskilled workers, the price for skilled workers, i.e. wages, is relatively high. “The gap is further exacerbated by the unavailability of jobs and the inaccessibility of credit and financing. Thus, those in the lower class have limited to no opportunities to get a part-time job or a loan to help provide the funds needed to finance their educational or vocational training. “Additionally, demographics can offer an explanation to the income inequality in Nigeria. Urban migration caused by the saturation of commercial activities in metropolitan areas such as Lagos accounts for some geographic variation in income distribution. Like- wise, income disparities occur across gender and age with older males (from 34-64 years) being at the benefitting end. “This is so, primarily because the 34-64 age Continued on page 27

T H I S D AY • WEDNESDAY, OCTOBER 5,2016

BUSINESSWORLD

ANALYSIS

Liquidity, Policy Somersaults Impede Market Growth Goddy Egene discusses developments in the Nigerian capital market over the years, positing that lack of liquidity and unfavourable policies are the major problems stunting the Nigerian bourses

NSE floor

Nigeria marked its 56th independence anniversary with mixed feelings from the citizens. Many believe that given the huge potential, the human and natural resources that the country is blessed with, Nigeria has not done well. And just like the country, the Nigerian capital market has followed same performance pattern. It has recorded mixed performance, having its low and high times. The market became active with the establishment of the Nigerian Stock Exchange (NSE) in 1960, the same year Nigeria got its independence. The NSE has been the centre point of the Nigerian capital market, providing the mechanism for capital formation and efficient allocation of resources among competing alternatives. However, two other platforms, the FMDQ OTC Securities Exchange and NASD OTC Securities Exchange have joined the market. While the FMDQ OTC is the platform for the trading of debt and fixed income securities and currencies, the NASD OTC is for the trading of equities not listed on the NSE. Evolution of the NSE Having been established as the Lagos Stock Exchange in 1960, the name was changed to NSE by the Indigenization Decree of 1977 as a result of the recommendations of the Industrial Enterprises Panel (Adeosun Panel) of 1975 that branch exchanges should be established. Consequently, six new trading floors of the NSE were established in Kaduna, Port Harcourt, Kano, Onitsha and Yola. As part of efforts to make the market more accessible to smaller companies, the Second-tier Securities Market (SSM) of the NSE in 1985. Also in 1998, the trading in Rights Issues was permitted as the first derivative instrument in the Nigerian stock market. In 1992, the Central Securities Clearing System (CSCS) was incorporated as the official central clearing and depository of the NSE. The CSCS was introduced to implement a computerised Stock Exchange Management System (SEMS) which places emphasis on the immobilisation of share certificate in a Central Depository. Also the Automatic Trading System (ATS) was introduced in the Nigerian stock market to replace the open outcry method. The ATS is a security trading arrangement whereby transactions

on the stock exchange are achieved through a network of computers operating on-line, real-time, automatically. With the introduction of the ATS, the settlement efficiency was increased from T+2 weeks to T+3 days. In order to make the market more vibrant and assist in the growth of the economy, the federal government set up a panel led by late Dennis Odife (popularly called the Odife Panel) in 1996. Specifically, the panel was mandated to review the history, structure, conduct and performance of the Nigerian capital market and its contributions to the Nigerian economic development among others. The recommendations of the panel led to the enactment of the Investment and Securities Act (ISA) No.45, 1999. The ISA repealed the Securities and Exchange Commission Decree of 1998, the Lagos Stock Exchange Act of 1960, the Nigerian Enterprise Promotion (Issues of Non-Voting Equity Shares) Decree of 1990, Part XVII of the Companies and Allied Matters Act of 1990, Sections 3(d) of the capital Gains Act and Section 21 (2) of the Nigerian Investment Promotion Decree of 1995. The act is now the basic legislation guiding the conduct and operations of the Nigerian capital market. Beating the odds Looking at the performance of the market in the past years, it has performed fairly well in spite of the many challenges in the operating environment. The market has have challenges such lack of capital market friendly economic policies, massive ignorance of the many people, policy summersault and political instability. However, amidst these challenges, the market

The small size of the market inhibits its growth. If it does not have the liquidity it needs, all of its other functions are also inhibited

has witnessed improved performance. For instance, total of new issues before 1989 was below N1 billion but increased to N10 billion and crossed the N10 billion mark in 1997. Between 1996 and 2001, a total of 172 new issues (securities of public companies amounting to N56.40 billion) were floated in the capital market. The total new issues were valued at N5.85 billion in 1996 but it rose by about 532 per cent to N37.198 billion in 2001. This improved to N61.284 billion in 2002, N180.079 billion in 2003. 2004 and 2005 accounted for N195.418 billion and N552.782 billion respectively before it crossed the trillion naira mark to hit N1.935 trillion in 2007 when the market was at its peak. In terms of market capitalisation, which is the most widely used indicator in assessing the size of a capital market to an economy, it hovered between N10 billion and N57 billion 1988 and 1994. It improved to N1. 3593 trillion in 2003, N2.1125 trillion in 2004 and N5.12 trillion in 2006. The market capitalisation recorded the highest value of N13.2294 trillion in 2007 before falling to N9.562 trillion in 2008 due to the global financial meltdown. It closed at N9.733 trillion Friday. The NSE All-Share Index, which was introduced with a base 100, has also followed the same pattern of fluctuation over the years but closed at 28,335.40 last Friday. Introduction of reforms While the regulatory body for the market, the Securities and Exchange Commission (SEC) strived to make the market attractive prior to the financial meltdown in 2008 and 2009, the coming of Arunmah Oteh as the director general (DG) in 2010 brought some radical changes into the market. Under her, the market witnessed some noteworthy product innovation, improved listing rules and landmark bond market reforms. This brought it closer to the same level with the equities market, making it attractive enough for Triple A issuers such as African Development Bank (AfDB) and International Finance Corporation (IFC) to issue bonds, introduction of Exchange Traded Funds (ETFs). It further widened participation in the markets through licensing and coming – on – stream of other capital trade points FMDQ OTC and NASD

OTC. Oteh also ensured that the market integrity was restored by considerably enforcing machinery in order to respond to this new emphasis. Additionally, an 18-man Nigeria Police Force team was introduced as a resident enforcement team at the SEC to handle enforcement matters swiftly and on time. This was a first-time record in the history of the top regulator. SEC also strengthened disclosure requirements and led the implementation of international financial reporting values for listed companies. Most of all, Oteh set up a community that came out with 10 year Capital Market Master-plan, which is being implemented to transform the market. Implementation of Master Plan Although Oteh left SEC early last year after finishing her five-year tenure, the current DG of SEC, Mounir Gwarzo has continued with the implementation of the master plan, which has begun to impact positively on the market in many ways. While the market has been bearish due to external factors including low oil prices and foreign exchange market challenges, operators said the policies and initiatives so far introduced by SEC under Gwarzo are capable of making the market investors’ haven once the external challenges subside. According to analysts, on assumption of office, Gwarzo said his sole agenda was to implement the capital market master plan and this has been done quite well. “SEC has strengthened capital market operators (CMOs) with the successful completion of the recapitalisation exercise. The commission, in collaboration with collaboration with Central Bank of Nigeria (CBN) and Nigerian Inter-bank Settlement System (NIBSS), has launched the electronic dividend payment platform that will address the challenge of unclaimed dividends in the market,” an Mr. Mike Ezeh said. Another laudable development is the introduction of direct cash settlement (DCS), which allows investors to have direct access to the proceeds of their shares sold by brokers. Continued on page 27

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ANALYSIS

INCOME INEQUALITY, POVERTY REMAIN CRITICAL ISSUES groups have the advantage of professional experience and presumed expertise and are thus more attractive to employers. Gender inequalities occur because of the profound patriarchal tendencies that exist in our society. 49.1 per cent of Nigeria’s total population are females. Yet, as at 2012, women only made up 14 per cent of those in non-agricultural wage employment,” the report added. Tackling Non-inclusive Growth However, a former Deputy Governor of the Central Bank of Nigeria (CBN), Professor Kingsley Chiedu Moghalu has warned that if Nigeria and some other countries in the continent fail to achieve inclusive economic growth, they would have missed the path to true development and run the risk of increased instability. Moghalu, who is a Professor of Practice in International Business and Public Policy at The Fletcher School of Law and Diplomacy at Tufts University in Boston, USA, laid out a road map for achieving inclusive growth, saying that in order to achieve inclusive growth, “we should be clear about what it means and what it doesn’t.” “Inclusive growth is about bringing all sectors of the economy and different strata of the society into a process of broad-based economic growth. This raises incomes and creates wealth across the board through increased labour productivity. It is not the same thing as inequality. “That is a wider problem created by the unequal distribution of capitalist wealth and is being addressed in some industrially

advanced countries with income and wealth redistribution through taxation adjustments and other means,” the former CBN chief added. Moghalu also noted that “inclusive growth also is not quite the same thing as social protection, although there is some relationship between the two. Inclusive growth focuses on the productivity of labour across a balanced set of sectors, and on ensuring employment, while social protection and welfare may include exhaustive fiscal transfers that do not necessarily create any goods and services.” He suggested that “achieving inclusive growth in Nigeria and other developing countries required an approach focused on conceptual clarity, which is necessary because a proper understanding of what inclusive growth is and what it is not will help policymakers avoid the wrong kinds of “solutions” that will in reality not solve the problem; rural based economic growth as opposed to “urban bias” in development thinking; and the fundamental role of business in promoting inclusive growth. “Others include infrastructure, which promotes equality of opportunity to access the marketplace of labour and goods; the creation of an effective social contract between the state and its citizens, which is presently absent; financial inclusion; and effective political leadership that can translate political power, authority and responsibility into inclusive growth-related public policy, with concrete outcomes that bridge the gap between expectations and performance.” The former central banker noted that the failure to consciously pursue inclusive growth in Nigeria has created structural distortions in the country’s economy that have resulted

in the economic crisis in the country. Also, a former President of the African Development Bank and former Minister of Finance of Rwanda, Dr. Donald Kaberuka emphasised that inclusion of every citizen and every group in the political process and the exercise of political power is essential to attaining inclusive economic growth. Similarly, the FDC report stressed the need for policy makers to understand the priorities and needs of the lower class, saying that would form an important basis for any policy. Furthermore, it stated that the lower classes are more concerned about daily expenses of food and transport rather than investments into the future. This is because their pockets cannot afford the luxury of savings and/or investing. For example, a parent would prefer to send their child to sell plantains by the road side and make a daily profit of N600, rather than spend money to give the child an education and forfeit the income the child could earn hawking. Thus, they inadvertently cut short the prospects of the child in a society where income mobility is rigid. “It is up to the government to develop practical and lasting ways to encourage such parents to let their children go to school. Campaigns to increase general awareness about the value of education and policies to improve financial inclusion and eased micro-finance access to the low income groups will go a long way to help increase the economic prospects and available investment and consumption opportunities

LIQUIDITY, POLICY SOMERSAULTS IMPEDE MARKET GROWTH Besides, SEC also launched the Capital Market Masterplan Implementation Council (CAMMIC), National Investors Protection Fund and Corporate Governance Scorecard, which are expected to enhance the market performance. “For the first time in the history of the market, there is a council comprising people of high integrity and who understand the market, that is people dedicated to the advocacy of the capital market initiatives. So if there is initiative in the market and there is need to upscale that initiative to a higher level, it is that council that will now interface either with executives or with the legislature or even with the judiciary with the view to ensuring that the initiative is given attention. This is a big plus for the market,” another operator said. NSE’s initiatives Similarly, while the NSE did creditably well under its former DG, Dr. (Mrs.) Ndi Okereke-Onyiuke, the coming of the current Chief Executive Officer(CEO), Mr. Oscar Onyema in 2011, has led to innovations aimed at deepening the market and offering investors more opportunities. No doubt the low patronage of the Nigerian stock market is partly attributed to the losses they suffered during the 2008 and 2009 market downturn, which was blamed on inadequate protection from regulators. Realising this factor, the NSE swung into action by signing a Memorandum of Understanding (MoU) in 2013 with the Economic and Financial Crimes Commission (EFCC). This MoU is aimed at tackling market infractions and curbing market abuse 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. 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. In terms of enhancing surveillance, the NSE equally acquired NASDAQ’s SMARTS Market Surveillance platform to power its compliance

Gwarzo

program. The technology has provided 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. Besides, 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. The product offering has also been improved with the many ETFs coming on board to give investors investment choices. Operator’s views Despite efforts to make the market more attractive so that it can play its role in the

economic development, there are still challenges. In the opinion of a leading operator, Mr. Victor Ogiemwonyi, who is the CEO of Partnership Investment Plc and immediate past President of the Association of Issuing Houses of Nigeria, the biggest problem confronting the market today is the issue of lack of capital. This, he said, has been further magnified by the recent market crash and the difficulty of the economy. “The market lacks liquidity because it does not have a natural source for funding its business. This is the fundamental flaw, and the reason why the market is not performing its role. The market is too small to be able to make any impact,” he said. According to him, the current SEC management and the very diligently execution of the master plan, has ensured that most of the market infrastructure required to make it work more efficiently, is now in place. He said: “Operators’ capitalisation was

for them. “Further, additional effort should be put into improving the quality of the public educational and vocational system. These will work to raise the average skill levels of the work force. Programs such as the Lagos Eko Secondary Education Project should be formed and implemented on a national scale. The project was aimed at enhancing the learning outcomes of public schools in Lagos State by improving the student performance in maths, English and biology. “Since its start in 2009, through rigorous teacher training and resource investments, the project has been able to raise the percentage of students who obtained a pass and above in Federal exams from 60 per cent to 86 per cent at the senior secondary level and from 30 per cent to 59 per cent at the junior secondary level. “Additionally, with the recent removal of petroleum subsidies, the federal government has extra income to spend on social schemes that target the lower classes. In 2015, the government spent N1 trillion ($5 billion) on fuel subsidies, such funds can now be channeled into programmes that will work to redistribute income and improve the livelihood for the lower class. Examples include conditional child benefits (that provide financial aid for children who attend school), educational and health fee waivers and food coupons/school feeding programs,” it added. The foregoing clearly shows that policies to improve the educational system and promote credit accessibility to the lower class will work to curb income inequality and stimulate national growth and development.

recently increased, and under-capitalised companies excluded from the market. The NSE’s trading technology is one of the most sophisticated trading systems in Africa today. The technology and the level of competence in the exchange today have ensured very high standards. Both its trading and settlement systems can be measured against any Exchange in the world. The NASDAQ-enabled system makes it world class. The exchange management has also embarked on very elaborate reforms that include reviewing its market systems and trading rules. Listed companies have better supervision and scrutiny today than at any time previously. They have also embarked on establishing a minimum Operating Standards for its members and for all brokers and have also revised and now stringently enforce its listing requirements and trading rules. A number of steps have also been taken to ensure investor protection. Even though there is a lot of work yet to be done, the market and its institutions are now in a better place and the operators are also much stronger at least, before the recent market downturn that has also significantly reduced market capacity.” Ogiemwonyi noted that the Nigerian capital market will not thrive unless there is sufficient capital to drive its business. He explained that the Central Bank of Nigeria (CBN) must act and extend its role of the bank of last resort to the investment banking (universal brokers) category of the capital market, if it was to get the necessary support to make it fulfill its role of helping to develop the market system that will efficiently allocate capital and trade risk. “The small size of the market inhibits its growth. If does not have the liquidity it needs, all of its other functions are also inhibited. The best way to make the market get funding will be to license larger intermediaries in the market ( the investment banks/universal brokers) to have access to the CBN discount widow and the Repo market. “These investment banking institutions must be given access to the discount window to discount their securities and Repo when they need capital to trade. The infusion of this size of capital will enable the market work more efficiently and will provide the much needed liquidity to trade securities in the market. The framework has now been put in place by the FMDQ Securities Exchange. It has demonstrated in the past, its competence in creating good systems that has allowed traders to trade market instruments,” he said.

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BUSINESSWORLD

ANALYSIS

Agriculture Holds the Ace for Economic Revival With the economic downturn, financing of the agriculture sector would help propel the revival of the economy, writes Nume Ekeghe The current economic downturn has brought the age-long desire of galvanising Nigeria’s non-oil sector to the front burner once more. Over the years, the country has relied heavily on the export of crude oil as its major source of revenue. However, the sharp decline in global crude oil prices has seriously diminished government revenue, thereby disrupting the country’s revenue flows. This has had attendant effects on Nigeria’s economy with issues such as rising fiscal deficit, fast depleting reserves and weakening of the naira against major foreign currencies now major concern to policy makers. This was the focus for experts that spoke at the 22nd Annual Seminar for Finance Correspondents and Business Editors, organised by the Central Bank of Nigeria (CBN), that took place in Abakaliki, Ebonyi state recently. Financing Agriculture for Sustainable Growth The CBN through its development finance policy has promoted small and medium scale enterprises in the agriculture value chain. A Senior Lecturer at Covenant University, Department of Banking and finance, Dr.. (MRS) Grace Ofure Evbuomwan, in her paper titled: “Nigeria Review of Government Agricultural Financing Initiatives,” noted that specific credit initiatives had been instituted by the Nigerian government towards promoting agricultural sector development in Nigeria. These included the establishment of the Nigerian Agricultural and Cooperative Bank (NACB) in 1972, the Agricultural Credit Guarantee Scheme Fund (ACGSF) in 1977, the Commercial Agriculture Credit Scheme (CACS) in 2009 and the Nigerian Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) in 2010. Other financing initiatives which were targeted at the real sector through which the agricultural sector has also benefitted included the Nigerian Industrial and Development Bank (NIDB) in 1964 to harness local and foreign skills and local and foreign private capital in the development of new industries and the expansion of existing ones; the Nigerian Bank for Commerce and Industry (NBCI) was established by Decree 22 of May 1973 and charge with the function of providing equity capital funds by way of loans to small and medium scale industries; the National Economic Reconstruction Fund (NERFUND) was set up by Decree No. 25 of 1988 as a funding mechanism aimed at bridging the gap in the provision of local and foreign funds to small and medium scale enterprises; People’s Bank of Nigeria (PBN) which was established by the Federal Government in 1988 to meet the credit needs of small borrowers who could not satisfy the stringent collateral requirements normally demanded by conventional banks. But the Director, Development Finance Department, CBN, Dr.. M. A. Olaitan in a paper titled: “Real Sector Financing for Inclusive Growth and Economic Development,” noted that the real sector is key to revamping the Nigerian economy.

There is an urgent need to expand substantially the domestic supply of modern farm inputs such as fertilisers, improved seeds, agrochemicals, irrigation pumps, improved livestock and fishery inputs, through public/ private sector partnership so as to achieve the desirable growth in consumption and yields

A rice farm

“The sector’s problems of susceptibility to crude oil price shocks (mono-product economy), weak socio-economic infrastructures and institutions, high cost of operations and inadequate finance/access to affordable credit facilities must be tackled head long, Olaitan said. “Though there could be conflict between price stability objectives and policies that promote sustainable development, the CBN still has a major role to play in the socio- economic development of the country by cautiously committing resources to interventions. “Nigerian financial institutions are expected to promote capital formation, grow/develop the real sector by promoting agriculture, trade and industry, finance infrastructure and influence economic activities through the provision of affordable lending costs. The Bank will continue to evaluate the effectiveness of its existing development finance initiatives such as those in agriculture, micro small and medium enterprises and export-import,” he added. Growing Non-oil Sector On his part, the Director, Research Department, CBN, Dr. Uwatt B. Uwatt said: “The current economic downturn has brought the age-long desire of galvanizing Nigeria’s non-oil sector to the front burner once again due mainly to over-dependence on oil export as a major source of the country’s revenue. “Sharp declines in global crude oil prices have seriously diminished government revenue, thereby enforcing major headwinds for the economy, including rising fiscal deficit, fast depleting reserves and weakening of the naira against major foreign currencies. “Nigeria’s continued dependence on oil export poses a big threat to the economic stability of the country, even as technological advancements continue to place less emphasis on fuel energy for powering industrial growth in advanced economies. “The good news is that Nigeria was once a prosperous country without oil, so nothing extraordinary new is required to get rid of the ‘Dutch Disease Syndrome’ and get the economy back on recovery track, and growth trajectory,” Uwatt added.Over the years, government had put in place several policy measures and incentives aimed at supporting the growth of the non-oil sector. Throwing more light on the policies, Uwatt said: “Policy actions put in place included the abolition of marketing boards, the introduction of the Second-Tier Foreign Exchange Market

(SFEM), as well as the establishment of the Nigeria Export- Import Bank (NEX1M). “The Export Promotion Policy, as an industrialisation strategy, is aimed at achieving greater global competitiveness in the production of processed and manufactured goods by linking industrial activity with primary sector activity, domestic and foreign trade, as well as services. The goal was to move Nigeria beyond selling just raw materials, into more value-added manufacturing activities. “There was also the Export Expansion Grant (EEG) Scheme. “Under the scheme, grant is given to exporters to moderate the impact of infrastructural deficits faced by Nigerian exporters and make exports competitive in the international market. Other policies included: the Agricultural Transformation Agenda (ATA) which was based on Commodity Value Chain approach and has the Growth Enhancement Support Scheme (GES) as a major plank; and the Nigeria Industrial Revolution Plan (NIRP) introduced to address the impediments to industrialisation in the short-term, while highlighting the reforms that must be undertaken to solve longer-term challenges. Also, the CBN in collaboration with other agencies had come up with some of financing intervention schemes specially designed to support the sector. These included the Agricultural Credit Guarantee Scheme Fund (ACGSF), the Agricultural Credit Support Scheme (ACSS), the N200 Billion Commercial Agricultural Credit Scheme (CACS), and the Nigerian Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL). Other intervention measures included the Micro, Small and Medium Enterprises Development Fund (MSMEs), Anchor Borrowers’ Programme (ABP), National Collateral Registry (NCR), Real Sector Support , the N200 Billion Small and Medium Scale Enterprises , Export Rediscounting and Refinancing Facility, Nigeria Electricity Market Stabilisation Facility (NEMSF), Power and Airline Intervention Fund (PAIF), Entrepreneurship Development Centres (EDCs), and the Youth Entrepreneurship Development Programme (YEDP). Last year, CBN provided each farmer with a grant of N210, 000, only to cultivate a hectare of rice, as a total of 78,581 farmers were mobilised in Kebbi state under the Anchor Borrowers Programme. The yields, when harvested were above expectations. The apex bank has now extended the initiative to Ebonyi state by granting the same amount to some rice farmers in Ebonyi state.

Conclusion and Recommendations Agriculture in the country has high potential, but actualising it depends on concerted efforts to address the major challenges confronting the sector which include among others; access to finance particularly, by small scale farmers who currently dominate the sector. Asides from improving access to low interest loans, a major concern and collective agreement was that agricultural value chains needs to be strengthened.As much as the government and the government agencies such as the CBN are doing their best in improving agricultural output, private sector should investing the value chain such as storage amongst others. Evbuomwan said: “There is an urgent need to expand substantially the domestic supply of modern farm inputs such as fertilisers, improved seeds, agro-chemicals, irrigation pumps, improved livestock and fishery inputs, through public/ private sector partnership so as to achieve the desirable growth in consumption and yields. “In this vein, there is the urgent need to rehabilitate the agricultural research system through a preparation of a national research plan, increased and stable funding, proper co-ordination and guidance of research efforts, strengthening the linkages between research institutes with national universities and international/regional research centres as well as adequate training of both research scientists and technical support staff in specialised skills to be able to guide farmers properly. “The need for adequate infrastructure to drive agricultural growth cannot be over emphasised. Adequate rural road network for quick evacuation of inputs and output, power for processing and storage including cold chain to increase value addition and improve shelf life and irrigation facilities to assure year round production and income, are prerequisites.” She further said there was need to foster an enabling environment that gives bigger role to the private sector, including co-operatives and grass root organisations. This calls for stability in exchange rates, trade policies, investing in infrastructure and public goods, tax incentives, which can induce reasonable profit margins and stimulate growth and make the sector attractive. In addition, farmers must be developed to make farming a business in whatever scale of enterprise of their choice. They must be financially literate so as to be able to access and efficiently use credit and avail themselves of other sources of funds like the capital market.

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BUSINESSWORLD

INSURANCE

Nigeria’s Pension Sub-sector on the Growth Path Ebere Nwoji writes that Nigerian pension sub-sector has recorded reasonable growth in the last 56 years Pension, by its definition and meaning as spelt by the Cambridge English Dictionary is an amount of money paid regularly by government or a private company to a person who does not work anymore because he is too old or has become ill. The dictionary.com defines it as a fix amount other than wages paid at regular intervals to a person or the person’s surviving dependents in consideration of past services, age, merit, poverty , injury or loss sustained. By whichever way the word pension is looked at, it is an entitlement belonging to a retired worker who had used his youthful strength to work for a particular organisation until he grows old and weak that he can no longer work as he used to do and so goes for retirement. At the retirement period, he sits back to receive periodically usually monthly, certain amount though may not be as high as what he was receiving during his service years, for his continued up keep in life. In other words, the purpose of a pension scheme is to provide the employees of an organisation with a means of securing, on retirement, a standard of living reasonably consistent with that they enjoyed while in service. In effect, it is the totality of plans, procedures and legal processes of securing and setting aside of funds to meet the social obligation of care which employers owe their employees on retirement or in case of death. A good pension scheme serves as an incentive to new employees and helps to hold back experienced staff. It is, therefore, the responsibility of a good employer to articulate and design a good pension plan that will motivate staff. 56 years after independence, Nigeria has recorded huge success in the transformation of its pension system which had in the past recorded checkered history. Improvement in this regard was so tremendous that the rest of African countries now look at Nigeria as role model in the reformation of their pension system. Historically, the first pension legislation in Nigeria referred to then as Pension ordinance was enacted in 1951 And it was designed for the United Kingdom officers, who were moved from post in the vast British empire. Its intention was to ensure that they maintained continuity of service wherever and whenever they were sent to serve. When the law became applicable to indigenous staff, it had limited application to the extent that it was granted at the pleasure of the Governor-General under the ordinance. Therefore, pension was not an automatic right of Nigerians from then on wards. Before the advent of the current Contributory Pension Scheme established by the Pension Reform Act of 2004, amended in 2014, Nigeria was operating the Defined Benefit scheme currently. It came into effect in April 1974 , but was backed up by an enabling law in 1979. The scheme, which was unfunded in nature, was apparently characterised by problems of different magnitude and complexities, such as lack of accountability, transparency, mismanagement of funds and corruption . Consequently, Nigerian pensioners were denied payment of their benefits and other legitimate entitlements on retirement. The result was that many retirees died out of shock, heart attack, stress on regular calls for verification of pensioners and other serious life threatening hardships to which they were subjected simply to be eligible to be paid their gratuity and pension. Many of them after the sufferings never received the said pensions until they died. Some time ago in Nigeria, precisely in 2010, there were reports that a particular pensioner who was ill and his children continued to struggle for payment of his monthly pension arrears to enable them take him to hospital for treatment. But the paymasters insisted that unless he was brought out from the hospital to the pint of verification, he would not be paid. The children later succumbed and carried the sick pensioner to the verification venue only for him to give up the ghost on the way and the children brought the body to the pay masters before his entitlement was paid. This was one of the gory experiences of pensioners simply because the pension fund managers then preferred to divert the provided money to their own account while the real owners die in

Anohu- Amazu

poverty and penury. This ugly situation continued until in 1999, when the former President Olusegun Obasanjo was confronted with the challenge of rampage by retired military officers who were his school mates in military school and protest letters from prominent university professors. He was then compelled to form a committee he sent to different parts of the world to study the pension system in advanced countries. The committee came up with suggestions and advice for Nigeria to adopt the ongoing contributory pension scheme practiced in Chile. The Pension Reform Act was in June, 2004, signed into law thereby establishing the regime of contributory pension scheme in Nigeria. The scheme was meant to accommodate workers who had from four years up to go for retirement before the enactment of the contributory pension scheme. While those who had less than four years to retire were not accommodated. The later were retained under the Defined Benefit scheme and the two were meant to exist side by side until the last pensioner under the old scheme dies. Also military personnel were exempted from the CPS. The scheme, which is funded in nature, requires savings from both the employee and the employer. Initially, both the employee and employer were required to save 7.5 per cent each of the employee’s monthly package, which should be paid into the retirement Savings Account (RSA) of the employee. CPS Act also requires every employer, who has up to five employees to open RSA for each of the employee with any of the 21 Pension Fund Administrator of his choice. The amended version of the act requires that employers of labour with two employees should enroll them into the scheme while the employee contributes 8 percent of his monthly wage and his employer 10 percent which should be saved in his RSA. The beauty of the contributory pension scheme is that by the law establishing the scheme, it is tamper proof as there are a lot of checks and balances that makes it pretty difficult for anyone to fraudulently access the money. Actors in the scheme, are the National Pension Commission(

PenCom) as the regulator, the Pension Fund Administrators ( PFAs)as the managers of the funds and the Pension Fund Custodians (PFCs) as the custodians and investors of the funds. By the design of the CPS Act, none of the above actors have access to the fund and none has the power to tamper with the fund as the funds are invested in various instruments where they yield interest to the Contributors’ savings. Today, records say that pension assets under the CPS has grown to N5.83 trillion and retirees are no longer passing through difficult times in collection of their Retirement Benefits. Indeed, most PFAs pay retirees as early as 18th of every month while the retirees have confessed that they are getting their pension benefits earlier than they were getting their salaries while in service. The CPS has remained one if the most successful and enduring legacies left by the Obasanjo’s administration. But as successful as the CPS is the regulator is still battling to fine tune it and ensure that every working Nigeria us brought under the scheme. At 56, Nigeria currently looked upon by tiger African countries is still faced with three major challenges among others in its effort to build a perfect and all -encompassing pension system. These challenges are how to secure the compliance of all eligible employers of labour to the scheme, how to sweep every working Nigerian under CPS scheme the micro pension scheme, how to judiciously invest the accrued funds in such a way that the contributors will feel the positive impact of the invested funds while reaping its yields. The Director General of PenCom, Chinelo Anohu- Amazu said to achieve this she is looking at investment of the funds in real estate in such a way that contributors can through their RSA own houses of their own. According to her, she is currently discussing with some heads of federal ministries on how to achieve this so that Nigerians at retirement would not think of how to live their retirement life without roof on their heads. To achieve these, Anohu- Amazu, went into partnership with the Pension and Investments/ World Pension Summit, Amsterdam, to institute

the annual Pension Summit Africa Special . The summit, which was established by the two bodies in 2014, now serves as platform for exchanging ideas, supporting professionals in social security and in all aspects of pensions to gain expertise in pension fund management . This year’s edition of the summit was held last week in Abuja with the theme ‘Pension Innovations: The African Perspective.’ Discussions at the year’s edition, the third in the series, focused on key areas and experiences such as ‘pension innovations, the dynamics of pension investment, new asset classes, infrastructure investments and impact investing. Also financial inclusion covering financial literacy, micro pensions and social security; the impact of new technology on communication were also touched. Also, discussions on how investment of pension funds in the real sector would lead to visible and measurable impact on the economy was discussed while each country was made to share its experience in pension system at the summit. In overall, given the level of success currently recorded by Nigeria in the journey to enthrone the regime of workable and functional pension system, one will modestly say that Nigeria, has successfully covered reasonable distance in its journey to achieve perfect pension system that will conquer the fear of retirement among Nigerians and at the same time build long term investible funds that will keep Nigeria on stable economic track. Managing Director/CEO ,Premium Pension Limited, Mr. Wilson Ideva, has attributed this success story to what he described as the ‘airtight statutory provisions and the efficiency’ of PenCom. According to him, these have combined to guarantee quality as a watchword in the industry. He said given PenCom’s efficient regulatory activities and penchant for quality, his company in particular, has stood out with top-notch professionalism, qualitative customer-care orientation and cutting-edge technology among other attributes. Also Deputy National President, Nigeria Union of Pensioners, Musa Ayuba Dallatu said he is impressed by the level of achievement recorded in the transformation of Nigerian pension sector. He said he is happier with the establishment of the annual pension summit which brings experts in pension from across the world to put heads together and chart the way forward for the future of Nigerian workers. He is optimistic that the lessons from such summit will make Nigeria continue to move forwarding in reformation of its pension system instead of going backwards. He however warned that investors of the pension fund should be careful to ensure the security of the funds. Obasanjo, to whom credit of achievements recorded in pension sub sector reform, said he was happy that the CPS has earned public confidence and acceptability. “Today, I am proud to say that 7.13 million employees from both the public and private sectors in Nigeria have been registered under the CPS and have all opened Retirement Savings Accounts and the scheme has so far accumulated about N5.73 trillion worth of pension assets. I am happy to mention that this modest achievement demonstrates that the National Pension Commission of Nigeria has achieved two of the objectives - coverage and generation of a pool of investible funds, for which the government decided to reform the Nigerian pension system twelve years ago,” he said. He said given the long term nature of pension funds, it is important that pension assets are deployed as endogenous domestic capital for development in a region that has hitherto essentially depended on multilateral aid and foreign direct investment. He counseled that Nigeria should learn to effectively utilise its resources in a manner that would generate employment for its unemployed youths and develop its infrastructure in addition to providing long term, affordable capital to the real sector of the economy.

T H I S D AY • WEDNESDAY, OCTOBER 5,2016

BUSINESSWORLD

PERSPECTIVE

Practical, Inclusive and Timely: Senate’s Economic Rescue Plan Days after the Senate President Bukola Saraki promised decisive action by the Senate on the worsening economic crisis, the upper chamber of the National Assembly has unveiled 14 strategic recommendations to assist the executive. Samuel T Adakole x-rays the Senate rescue package to help the country turn the corner and achieve quick and sustainable economic recovery “Many times experts have quipped that Nigeria is finished, but we come back stronger. This occasion will not be any different. But it will not happen by a slogan! No, it will take positive leadership and unity. Never in our history has the need to show leadership and unity been more acute, more urgent than now. We cannot afford to play politics with our current situation. As a parliament we are in this together with the Executive and the Judiciary, we cannot afford Eto fail Nigerians.” – Senate President Bukola Saraki The 14-Point Plan for resolving the economic crisis that the Senate last week sent to the Executive is so far the most comprehensive, practical and timely response to the economic nightmare that the country is facing. I am particularly impressed by the clarity of the recommendations which should be a lesson to the Executive arm of government whose actions and pronouncements have been defined by incoherence and confusion. WhiIe the specific recommendations are not revolutionary or unprecedented, they constitute a clear and practicable path out of the economic woods in which the country has found itself. What I like most about the recommendations is the inclusive nature of what the Senate is proposing. Unlike the Executive, the Upper Chamber is not focused on unproductive scapegoating and blame game that has unfortunately become the trademark of the Executive’s response to the economic crisis. The Senate is not only suggesting solutions but making itself an integral part of the process of implementing these solutions. This is clear from the very first of the recommendations which requests the executive to forward an Economic Stimulus Bill containing all the fiscal stimulus packages, investments and incentives for accelerated consideration and passage by the National Assembly. Another key recommendation is the call for the fiscal and monetary authorities to harmonies all policies to show policy consensus. This is important because the public disagreement between the Federal Ministry of Finance and the Central Bank of Nigeria on interest rates is a great disservice to the country. How is the international community and investors supposed to take us seriously when at the time we should be projecting a stronger focus and unity of purpose on the economy, the two leading institutions responsible are squabbling over fundamentals. It doesn’t inspire confidence, when delicate conversations that should be conducted outside the public domain become headline controversies. In this regard the Senate is very much on point. The Senate’s call for the adoption of peaceful means to resolve Niger Delta crisis at a time of increasing militarization of the conflict is also a very good one. The current reality is that in spite of the growing consensus on diversification, it will take the country a little while to get to the point where other sources of revenues will start competing with oil. As for now, oil still remains our number one source of revenue. So the military solution and the attendant crisis which is likely to worsen the quantity shock which has already crashed daily production from about 2.2million barrels per day (bdp) to 1.6million bpd will be disastrous for the country. Also spot on are the recommended areas

Saraki

for the economic stimulus to be applied: Safety Programmes; Humanitarian Activities in the North East; Power Generation; Agricultural value chain; Textile manufacturing; National highway network construction and maintenance; Railway construction and maintenance; Motor vehicle assembly plants; Completion and commissioning of Ajaokuta Steel Complex; Arts, Science and Technology. By any measure, these are the critical focus areas where impact is most needed for the economy to turn the corner. The Senate’s recommendation for caution in the issuance of bonds and treasury bills, a practice which is becoming a key part of government’s arsenal for fighting the economic recession, is also appropriate. It is a fact that in the rush to issue bonds, the local business entrepreneurs who are already under pressure due to high interest rates, unstable power supply and the many “checkpoints’ at the ports are being pushed out of the investment space. That is why it is important that this call for the Federal Government to cap the issuance of bonds and treasury bills in order not to crowd-out local investors from the market be heeded because Local Domestic Investment (LDI) is as important, if not more as Foreign Domestic Investment (FDI). Also very appropriate in this regard is the additional recommendation that the Federal Government should ensure the payment of all genuine domestic debts owed to local contractors who have completed their jobs. The health of the domestic private sector must be a central component of any viable strategy to get Nigeria out of this economic

crisis. In line with the longstanding conversation regarding the use of pension funds for infrastructural projects, an idea which has been championed by, among others, Babatunde Fashola, the Minister of Power, Works and Housing, the Senate plan also includes a recommendation for the use of pension and insurance funds to support long-term capital on lending for agriculture, industry and housing projects. This also deserves serious consideration by the executive. The deployment of pension funds into priorities like infrastructure in order to catalyze growth and improve demand has been successfully done in many countries. But a word of caution is necessary here. Though the results are largely positive in many other countries, it is also true that, in some cases, pensioners have lost their life savings as a consequence of such initiatives. This is why this idea should be explored with caution. The focus should be on ensuring a fidelity with extant rules and regulations to ensure that the objective of boosting infrastructure is not achieved at the expense of pensioners’ life savings/welfare. There is no doubt that the crash in the global price of oil with began in mid-2014 has devastated revenues at all levels within the 3 tiers of government by at least half. This development was of course exacerbated by the country’s failure to save when oil prices were high. But the conversation on boosting inadequate revenues cannot be complete without reference to the reality that poor

governance and waste of resources especially at the state and local government levels is also a big problem. State Governors continue to live large and local government chairmen are not doing much better. This is why the recommendation by the senate for compliance with the Fiscal Responsibility Act’s guidelines for prudence and accountability in revenue and expenditure management is so important. But for this recommendation to have practical value, there is a need for people who have breached the act to be held accountable. Without that, fiscal responsibility will continue to have more bark than bite. In this regard, civil society, the media and more importantly the judiciary have a very important role to play. The country’s revenue crisis is of course compounded by the ceaseless bleeding that continues to take place at various points of the petroleum value chain. By all accounts, the incidence and intensity is on the upward swing as both small and big time players continue to rip off the country. There have also been several reports of scams on the high seas reportedly carried out in collusion with unscrupulous staff of government agencies and rogue agents of multinational companies resulting in the loss of millions of dollars in revenues which would have gone into the national coffers. Against this background, the Senate is very right in its recommendation that cases involving unaccounted oil exports should be pursued vigorously to logical conclusion. The hope is that the Department of State Security, the EFCC and the police will act on this as speedily as it has been handling political cases. It is increasingly obvious that a major underlying cause of the worsening economic crisis is the crisis within the government’s economic management system. This crisis as earlier stated has found unfortunate expression in the public spat between the Finance Ministry and the CBN over interest rates. But it has manifested itself in other areas as well. The Senate’s recommendation that the President should consider establishing a Council of Economic Advisers made up of experts in economic management, if implemented properly should help to strengthen confidence in the economy. Perhaps the best part of the Saraki Senate’s 14-point Plan is the commitment of the Saraki Senate to fast track the passage of important bills which are critical to the economic recovery process. In addition to the fiscal and monetary initiatives, this is the third leg of the tripod on which any sustainable progress with the economy should be anchored. The bills which the National Assembly has committed to “examine, prioritize and fast-track’ are: the Petroleum Industry Bill; National Development Bank of Nigeria (Establishment) Bill; Nigerian Ports and Habours Authority Act (Amendment) Bill; National Road Fund (Establishment) Bill; National Transport Commission Act of 2001; Warehouse Receipts Act (Amendment) Bill; Companies and Allied Matters Act (CAMA); Investment and Securities Act (ISA); Customs and Excise Management Act; Federal Competition Bill; National Road Authority Bill To retain credit and credibility for these well thought out and timely recommendations, the Senate must make good on its promise to pass these laws as soon as possible. That will be the true icing on the cake of economic recovery. *Adakole is a public analyst based in Lagos

T H I S D AY • WEDNESDAY, OCTOBER 5,2016

BUSINESSWORLD

NEWS

VANSO Concludes Merger with Interswitch, Creates Enhanced Platform Emma Okonji Value Added Network Solutions (VANSO), a mobile and security focused financial technology provider has announced the acquisition of 100 per cent of the equity in the company by Interswitch Limited, pan-African digital payments and commerce company. The transaction will integrate the two businesses, and provide Interswitch with a market leading mobile banking and payments solution provider in Nigeria, while enabling VANSO to accelerate growth across an expanded range of geographies and products. VANSO’s existing shareholders will become shareholders of the Interswitch group, aligning

the long term interests of both companies towards long term growth. VANSO provides highly secure messaging, payments and banking solutions for a broad range of telecommunications and financial services clients in Nigeria, Ghana, Rwanda, Kenya and a number of other territories across sub-Saharan Africa.The combination of Interswitch and VANSO will create an unrivalled African solution across switching, billing, cards, mobile money and mobile commerce, while integrating an end to end value chain play through the combination of Vanso’s front end solutions and Interswitch’s back end infrastructure.As part of the transaction, VANSO’s non-executive vice chairman,

Constantine ‘Labi Ogunbiyi, will take up a position on the board of the Interswitch group, bringing his two decades of strategy, corporate finance and legal experience in Africa to further complement the board’s existing capabilities. VANSO co-founder and CEO, Denis O’Brien, will assume a new role as the CEO for Interswitch’s Digital Payments business, and the broader VANSO senior management team will take up senior positions within the Interswitch system. Commenting on the transaction, O’Brien and Idris Saliu, said: “VANSOs mobile banking platform and payments solutions are already integrated with the Interswitch system, and this transaction provides a broad and established platform from which

we can grow into the continent’s leading mobile messaging, payments and banking provider.” “In Interswitch, we have found a partner with ambitions aligned to our own, and the institutional backing and scale to rapidly accelerate their attainment. I would like to thank our Board, executive management team and all our staff, who have worked tirelessly over the last 18 months to identify the most appropriate growth option for us,” they added. Speaking on the merger, VANSO’s chairman and co-founder, Mr. Richard Akerele, said: “I am extremely proud of the VANSO team and all its staff in building a highly competent technology company. It is a testament to the capability of young Nigerian entrepreneurs who have

a vision for our country and belief in themselves. I am a firm believer that the future of Nigeria and Africa rests in the hands of the younger generation, and I am delighted to have had the opportunity to have supported this endeavour since inception.” Ogunbiyi, who joins the Interswitch board of directors said: “Having been deeply involved in the emergence of the indigenous Nigerian oil and gas sector, I am extremely excited to have advised on and concluded this transaction, and to be joining the board of the combined entities. I believe that technology has the potential to deliver transformational change in Africa, and be a key driver of future sustainable growth. I look forward to working with

the Interswitch leadership team to achieve the potential of the business over the coming years.” Explaining how the VANSO solutions fit into Interswitch’s Africa expansion strategy, Group CEO, Interswitch, Mr. Mitchell Elegbe said: “The acquisition of VANSO, both a market leader in the mobile financial services industry and a strong and profitable business, is a great opportunity to combine our respective technology offerings and skill sets, driving growth in our business. By integrating operations, we not only secure access to new payment channels, but a highly skilled leadership team as well, while VANSON now has access to new markets, a mutually beneficial step for both our companies.”

PAL Pensions Pledges Good Returns on Contributors’ Investments Ebere Nwoji PAL Pensions, one of the licensed Pension Fund Administrators in Nigeria, said it gives priority to good returns on invested assets of its contributors. The company, also said it is warming up to take a strategic position and higher market share of the evolving micro pension market with a view to expanding its already robust clientele base. The company, stated this at the recent World Pension Summit Africa Special held in Abuja.

The Executive Director, Finance and Operations of the company, Mr Godwin Onoro, who stated this during a media chart, described the micro pension market segment as the untapped segment, adding that this remains an area the operators are yet to explore. He said the pension industry holds great future for the economy and that operators are getting to the peak of harnessing the gains of the formal sector remaining the informal sector. He, however, said tapping

into the informal sector requires efforts of the entire industry, the regulator and the operators at large. According to him, Pal Pensions is already doing underground work in preparation for exploration of the informal sector market. “All we are doing now is to prepare ground. We will have activities when the regulation is actually out by which case there is regulation we can go out there, bring these people because by then there will be

no limitation because the picture, the modalities for operation will be clearer. But as it is now, there are still some limitations but I want to assure you that once the modalities are spelt out by our regulator, Pal Pensions will be among the front-liners in the efforts to explore this all important market segment. Onoro, speaking on the Customer service effort of the company said: “In terms of customer service, Pal Pension ranks first. We have put structures in place to ensure

quality service to our customers. Such that wherever you are, you can walk into our office and get perfect service. I think in terms of customer service, Pal Pension is one of the top three. We have six regional offices, there is no state in the country Pal Pension does not have presence. We have very wide spread.” He said the company prides itself in regular customer engagement efforts such as customer forum, retiree forum. He also said the company’s

personnel go to branch offices to talk to the clients on retirement plans and how to access their retirement benefits. He said in terms of return on investments, Pal Pensions is one of the PFAs that put smiles on the faces of the retirees through returns on investments of their savings. According to Onoro, in the mist of the recession, Pal Pensions, does not give excuses but has always given the best that will make the contributors happy.

T H I S D AY • WEDNESDAY, OCTOBER 5, 2016

EDUCATION Bracing the Challenge of Raising Global Citizens With the increasing demand for knowledge and skills that give students the competitive edge to survive in the 21st century, educational travel has been identified as one of the ways to strengthen students’ abilities for problem solving, communication, collaboration and cross-cultural awareness, an aspect of education that Future Trust Initiative is vigorously pursuing. Peace Obi reports The difference between a developed and an underdeveloped country is neither the population figure nor the landmass, but the processes created and adopted by the people to make life easier and meaningful. Behind these processes are knowledge and competencies acquired through diverse, but quality education. Though knowledge and experiences may differ from generation to generation, the effort by the society to continuously equip its citizens with relevant and updated knowledge will not only expose them to the competencies required for every age, but deliver the future into their hands. No wonder Everett Koop said that life affords no greater responsibility, no greater privilege than the raising of the next generation. And for Nigeria, the need to rise to the challenge of raising 21st century citizens who through education and exposure are made global citizens that can fit into the industrial and societal needs is now like never before. According to experts, the knowledge, competencies and abilities that will enable Nigerian students to compete favorably with their counterparts around the world may not necessarily be contained in a conventional school curriculum. Thus, raising students who will satisfy the human resources need of the everadvancing world needs them to be fortified with marketable competencies. Time and age now place on education the demand to have students’ x-factor discovered; build them up to understand the need for compromise, collaboration, among other skills. Rising to the need to have the country’s flag hoisted in distant lands with quality representation by young Nigerian students that have been provided with what it takes to stand as global citizens is Future Trust Initiative for Capacity Building (FTI). With a special focus on education, leadership education, capacity building and philanthropy, the NGO has over the years been involved in the selection, coaching and facilitating the participation of Nigerian students in a two-day National High School Model United Nations (NHSMUN) conference in New York annually. To ensure that the voice of Nigerian children is heard among their equals on the global platform, the founder of FTI, Dr. Maureen Egbuche said, “this inspired us to replicate the New York experience right here in Lagos, Nigeria for the African continent.” According to her, the African Futuretrust Model United Nations (TAFMUN) is aimed at exposing Nigerian students to competencies that would facilitate their participation in the annual conference in New York. Speaking during the 2016 TAFMUN conference in Lagos recently, the conference host and founder said the Model United Nations (MUN), which is a simulation of the real life United Nations session, is designed to provide students with a platform for interesting and thought-provoking discussions on current global issues. According to her, the conference which offers a unique experience to participants requires delegates to possess some qualities that characterise global citizens. “This involves an in-depth understanding of current events, international relations, diplomacy, and the United Nations. The take away from MUN conferences are transferable lifelong skills such as negotiations skills, critical thinking skills, conflict resolution, consensus building, confidence building, to mention just a few. The ultimate aim is to prepare the next generation to face future global problems and issues when they arise.” She stressed that the students without the

L-R: The founder, Future Trust Initiative for Capacity Building, Dr. Maureen Egbuche presenting a return ticket to New York to the 2016 TAFMUN Conference Best Delegate, Miss. Oluchi Nwachukwu

relevant skills to function as global citizens would be confronted with the pain of lack of opportunity, inferiority and denial in the scheme of things in this dispensation. “Have you ever wondered why it has become increasingly difficult for ‘straight A’ students to gain admission into tertiary institutions, especially overseas; why do they not get great jobs after university graduation, even with their first class grades. Why do they not adapt quickly to the challenges of a new job on getting one, locally or otherwise?”While calling on governments, parents and educators to make quality education accessible to Nigerian children, Egbuche said: “We are presently raising children that can merely pass exams with very high grades but they are not taught to be global citizens and creative thinkers. Schools are preparing students for jobs that no longer exist. “We live in an ever-changing world, which will favour the person with diverse experiences and abilities and as such we should ensure that our children are given a competitive edge to face the world of the future. The Model United Nations conference provides that competitive edge.” Addressing the conference delegates, Egbuche said, “you will see the world and its problems from a truly global perspective. You will engage in rigorous debates as ambassadors, experts and activists to tackle international communities’ pressing issues. TAFMUN is a time to step out of your comfort zone.” Highlighting the objective of the conference, she said: “We are confident that students who participate in our conference will become policy shapers and world leaders of tomorrow. Whether

their impact will be made in fields like science, finance, government, humanitarian aid or crisis intervention, each student would have learnt the importance of cooperation, compromise and consensus during his or her time at TAFMUN.” Delivering the keynote address with the theme ‘Preparing Them for the Future’, the Managing Director, Edumark Consult, Mrs. Yinka Ogunde, said quality education laced with the right principles of life empowers recipients for greater productivity. Commending the initiative, she described TAFMUN as a project which government, parents and educators should buy into, adding that conscious effort should be made to ensure that youths are equipped through diverse educational experiences to become global citizens. “This is because if we do not release them to be this aware; if we do not prepare them for the future, they will eventually become commissioners who do not understand why they are there. They will become ministers who don’t know what to do. They will become ministers who when sent to go and negotiate with World Bank, will come back smiling achieving nothing because they did not understand how to negotiate. But here we are we have been given a golden opportunity to prepare them for the future.” Reflecting on the experiences and knowledge made available to her as a child that grew up when technology was evolving, Ogunde said though the society did not consciously prepare her for today’s world, but the quality education she received did. She said the rapid changes the world has continued to witness in recent times especially in

the area of ICT makes her wonder if Nigeria was prepared for the today’s world. “The question I ask myself is did we envisage the future that we have today? Did we envisage that this is where Nigeria will be today? Did we envisage that this is where the world would be today? So many dynamic changes have been taking place. Even if we did, was I as an individual prepared for that. Did I go through any experience that could make me ready to be able to succeed in that world?” While calling for the commitment of all stakeholders in providing quality education and the right exposure for students, Ogunde urged the participants to make the best of the opportunity TAFMUN provides. Ushering the delegates into the conference session, the TAFMUN Secretary-General for 2016, Chisom Ogbummuo, commended the delegates for their sense of responsibility and willingness to be part of the move to embrace a new ethic of global cooperation to meet the challenges of today and tomorrow’s world. “I urge you to pursue a collaborative, not a combative approach. Think cooperation and not confrontation. Be willing to persevere and be patient. These are qualities that will mark you out as effective and accomplished diplomats, as will your mastery of your subject matter, the development of your communication skills and your capacity to network, engage and connect with others both in formal negotiations and informal exchanges.” Led into the session with the reaffirmation of the TAFMUN Declaration, the delegates representing 21 schools from five states and the Federal Capital Territory settled down for the business of the day. Consciously following the parliamentary rules in both caucus and general sittings, they were expected among other things to document their proceedings to include recommendations by the various committees and the resolution by the general assembly. For quality deliberations, guidance and assessment of the delegates’ adherence to the stipulated rules, the three committees were headed by a chairman and an assistant chairman whose knowledge and experience were brought to bear, having participated in MUN conference in New York previously. The students who assumed leadership positions of their assigned countries throughout the conference replicated the functions of world leaders with every sense of responsibility, expertise and maturity beyond their age. For the four days the conference lasted, the young boys and girls representing their assigned UN member countries, carried out their roles with a good mastery of the skills as taught by FTI. The application skills like critical thinking skills, research skills, negotiation skills, social etiquettes, confidence building, public speaking skills, team building skills and conflict resolution skills earned many delegates awards and certificates to participate in the 2017 MUN conference. However, to emerge as the year’s conference best delegate, a combination of the delegates’ performance on various tasks such as written test, researched position paper, as well as their ratings at the conference were involved. From the 21 schools from five states and FCT, Lagos State stood tall as Miss. Oluchi Nwachukwu, a student of the Federal Science and Technology, Yaba was announced as the 2016 TAFMUN Conference Best Delegate. She won a Lufthansa German Airline return ticket to New York and was decorated as the TAFMUN Ambassador for the 2017 MUN conference in New York.

T H I S D AY • WEDNESDAY, OCTOBER 5, 2016

EDUCATION

UNICEF Intensifies Funding Appeal to Assist More Children in North-east Uchechukwu Nnaike UNICEF said it has revised its humanitarian appeal for Nigeria from $55 million to $115 million to assist an additional 750,000 people who can now be reached across conflict-affected areas in the north-eastern part of the country. It said as new areas open up to humanitarian assistance, the true scale of the Boko Haramrelated crisis and its impact on children is being revealed. “An estimated 400,000 children under five will suffer from severe acute

malnutrition in three states across the north-east this year. More than four million people are facing severe food shortages and 65,000 people are living in famine-like conditions, mostly in Borno, the worst affected state.” According to UNICEF’s Director of Emergency Programmes, Afshan Khan, children’s lives are literally hanging by a thread. “We are reaching new areas to provide critical humanitarian assistance, but we need greater international support to further scale up and reach all children in dire need.”

She said the destruction of whole towns and villages further complicates the response, adding that 60 per cent of health clinics have been partially or completely destroyed and 75 per cent of water and sanitation facilities require rehabilitation in Borno State. “Nearly one million children are now displaced across the north-east, a million are out of school and hundreds of thousands psychologically affected from the horrors they have lived through.

“The conflict-related lack of access to children has also led to an outbreak of polio in Borno State, where three cases of wild polio virus were confirmed in August and September. UNICEF’s funding appeal comes as a series of massive coordinated emergency polio immunisation and nutrition campaigns in northeast Nigeria and neighbouring countries is underway, targeting 1.8 million children in Borno State alone. The immunisation campaign is also identifying and treating

children with severe malnutrition.” UNICEF said it has increased its response in the areas worstaffected by the Boko Haram conflict since April, supporting basic health care and nutrition for children and mothers, and helping to provide safe water and sanitation, child protection services and learning opportunities. “Since the beginning of 2016, 2.6 million conflicted-affected people have been given access to UNICEF-supported

preventative healthcare services and nearly 75,000 children have been treated for severe acute malnutrition in northeast Nigeria. “The construction and rehabilitation of boreholes has provided nearly half a million people with improved access to safe water. Safe learning spaces, teacher training and educational supplies have helped over 72,000 children to restart their education and some 133,000 children have been provided with psychosocial support.

Varsity Don Blames FG for UBE Failure, Interference in Tertiary Institutions Paul Obi and Marvellous Okeke in Abuja A university don and former Executive Secretary of the National Commission for Colleges of Education, Prof. Peter Lassa, has deplored the federal government over the failure of the Universal Basic Education (UBE) programme and the incessant cases of government interference in the running of tertiary institutions in the country. Lassa told journalists that the failure that has characterised the performance of the programme and the functions of the Universal Basic Education Commission (UBEC) is responsible for the poor quality of education and teachers across board. “The UBEC is not meeting the goal that is intended. There is no infrastructure in schools and the low quality teachers in the country are worrisome. As I speak, about N68.4 billion is lying idle; where is the states’ counterpart money? So obviously, the states cannot access the funds. There is need for synergy between states and the federal government to resolve the crisis.” On university autonomy, Lassa who is the first Professor of Mathematics Education at the University of Jos, said all the laws governing universities are spelt thereby prohibiting any form of interference by government. “University autonomy is well spelt out in the NUC act. No policy should be taken or made in ad-hoc capacity.” He called on the Academic Staff Union of University (ASUU) to reduce the rate at which it embarks on strike to save the country’s university. “They should strike only when the issues are serious.” He also said politics between states and the federal government is hampering the quality of education in the country. “The policy by government should be laid down clear. Unilateral decision is creating problems for Nigeria’s education. Why should state governments establish universities when there is no basic education in their state?” Meanwhile, due to increas-

ing cases of some principals of federal unity colleges charging fees beyond the amount authorised by the Federal Ministry of Education, the Minister of Education, Malam Adamu Adamu has warned such principals to adhere strictly to authorised fees or get sacked. Speaking in his office in Abuja, Adamu advised parents whose wards are in unity colleges to report any infraction to the directive to the ministry for appropriate sanctions. Adamu said one of the pillars of his ministerial action plan ‘Education for Change’, which would soon be launched is to make education accessible and affordable to all Nigerians, maintaining that he will not tolerate any act capable of sabotaging the goal. He said the time has come for Nigerians to enjoy the benefits of change which they voted for and that he will stop at nothing to deliver it in the education sector. The minister added that part of the reasons for the recent harmonisation of fees in unity colleges was to ensure that parents pay averagely less as well as eliminate indiscriminate collections that made parents in some colleges to pay much higher than their counterparts in other colleges. He also directed that all authorised cost items, including boarding fees must be communicated to parents in writing and copied to the ministry before any payment is demanded, adding that any principal that does otherwise will have him/ herself to blame. According to the Deputy Director of Press, Ben Goong, “for the avoidance of doubt, the authorised schools fees for unity colleges for the 2016/2017 academic year has been placed on the ministry’s website, www. education.gov.ng. “Any school principal that collects or has collected a penny outside the authorised fees as clearly stated must refund same to affected parents or guardians immediately.”

CONGRATULATIONS

R-L:The President, National Postgraduate Medical College of Nigeria, Ijanikin, Lagos, Prof. Adela Abayomi Alaitan with one of the fellows of the college, Dr. Rugaya Ajibola-Bakare, during the institution’s 34th annual induction ceremony… recently

Bauchi Approves N1.8bn for Education, Kicks-off Schools’ Renovation

World Literacy Day: Lagos Canvasses Reading Culture among Students

Segun Awofadeji in Bauchi

Funmi Ogundare

The Bauchi State Governor, Mohammed Abubakar has provided the 2014 and 2015 Universal Basic Education Commission (UBEC) matching grant of about N1.8 billion to the State Universal Basic Education Board (SUBEB) for execution of projects, provision of teaching and learning materials and the training of teachers at the basic education level. The Chairman of SUBEB, Professor Yahaya Yero stated this at the launch of teacher training on early grade reading and the distribution of 1,269,837 teaching and learning materials, organised by the Northern Education Initiative Plus (NEI Plus), in collaboration with the board.He said the move, which is the first of its kind in the history of the state, will allow the board to execute most of the programmes and projects within its mandate. “A major area of emphasis in the strategic plan for the development of the education sector is teacher education and development which is a vital component of standards and quality assurance. No education system can rise above the quality of its teachers, as the standard of its teachers invariably affects the performance of the pupils and students.” Yero regretted that education has suffered serious decline in

the past two decades, adding that the situation requires political will and determination to reverse the trend. While commending the efforts of the Abubakar-led administration in restoring sanity to governance, especially in the education sector, he disclosed that NEI Plus with support from UBEC and SUBEB has trained 20 master trainers and 240 trainers of teachers and the cluster/school training for class teachers. He said teacher professional development training in the state targets 6,079 teachers and head teachers in 1,751 primary schools in the 10 selected NEI Plus intervention LGEAs, adding, “these teaching and learning materials target to benefit 249,292 pupils comprising 88,998 primary one; 82,479 primary two; and 77,815 primary three pupils.” In his remarks, Abubakar stressed that education is the only thing that “guarantees a responsible livelihood, promotes and develops the individual’s personality, talents, mental, emotional and physical potentials to the maximum.” This he said informed his administration’s decision to make the sector its priority.The governor reiterated the determination of his administration to transform the sector and ensure access to quality education for all “school age children, adolescent girls, youths and adults.

The Lagos State Government recently commemorated the International Literacy Day with the theme, ‘Reading the Past, Writing the Future’ with a call on students to read and seek knowledge. Speaking at one of the programmes held at Ojodu Junior Grammar School, the Director General, Office of Quality Assurance, Lagos State Ministry of Education, Mrs. Ronke Soyombo, urged parents to encourage their children to read so that they can become people to be reckoned with in future. “When children are great readers, there is no more limitation in their lives and that is why we are saying that all children should go to school and become great readers and writers. She described the day as that set aside for the children to take stock on how literate they are, saying, “if you are not a brilliant reader, you cannot be a brilliant writer, the more you read, the better you become as a writer. Never allow anyone to discourage you, but strive to become better.” Soyombo enjoined the students not to join the bandwagon of people who put the country down, saying that they should talk and act greatness by their attitude.

“Nigeria is a great country, you have to act and talk it; and also aim to be the best in life. You have to develop an attitude of reading so that you can cross the hurdle, if you are a good reader, you are likely to develop an attitude other skills as well.” The director general recalled that during a stakeholders’ meeting last year, it was decided that the state’s programmes and those of private school owners on the literacy day would be publicised on its official website so that people can have access to it, adding that it is time literacy skills, writing and reading are celebrated in the society. She appealed to teachers to allow their students to read books during their lessons. The Principal of the school, Mrs. Olufunke Lufadeju, affirmed that there is power in reading and writing, adding, “knowledge is power for you to be able to change the world.” She said it is the responsibility of those who are literate to educate those who are illiterate in the society saying, “education will give you the power to change the world.” An author, Dr. Ebere Njoku, expressed concern about the things that distract children from learning to read and write, while advising them to read and seek knowledge.

T H I S D AY • WEDNESDAY, OCTOBER 5, 2016

EDUCATION

Trinity College Lauds Students’ Performance at Science Olympiad Uchechukwu Nnaike Trinity International College, Ofada, Ogun State has rolled out the drums to celebrate some of its students for their impressive outing at the recently concluded Science Olympiad competition, saying that their performance has increased the school’s capacity. Three students of the school, Ebuka Okoli, Amaechi Abuah and Amam Oghenefejiro represented Nigeria at the competition’s grand finale in July. A fourth student, Alakwe Dike is also waiting for the 2017 contest. Okoli and Abuah who were first and second in physics at the national level went to represent Nigeria at the International Physics Olympiad (IPhO) in Switzerland. Oghenefejiro was third nationwide in Chemistry, and went to Georgia in former Soviet Union to represent Nigeria at the International Chemistry Olympiad. Okoli eventually emerged with an honorary mention-the fourth category of medals with recognition. He consistently won the contest at all levels. He was

first in Ogun State at the first round, which is the state level; he repeated the feat at the zonal contest in Abeokuta and still maintained the first position in Abuja at the national level. Last year, he represented the country at the contest in Mumbai, India. Abuah came second in the first round in Ogun State; dropped to fifth position in the second round in Abeokuta and finally came second again at the national level in Abuja. Oghenefejiro came first in Chemistry at the state level, fifth at the zonal level, and third at the national level in Abuja. Alakwe Dike, a basic nine student, who registered for Biology, qualified at the state level, but competed with his seniors at the national level and was 11th overall. He was then pencilled down to be invited for next year’s competition. The Director of Education, Mrs. Funmi Aderinoye, said the school commenced the race for the Olympiad contest with 44 contestants at the state level in the junior mathematics and junior science category, as well as the senior mathematics, physics, chemistry and biology categories. Out of

these, 23 students made it to the zonal level. By the end of the zonal contest, five students qualified for the national competition in Abuja. According to her, Okoli has consistently been in the College Achievers’ Club, a group of students with 85 per cent and above average mark. “In the 2015 International Cambridge GCE exams, he scored 6A*, 1A and 1B. At the 2016 Science Olympiad qualifiers in Abuja, he came tops with 39.1 points out of 50. “Abuah has also represented the college in the Cowbell mathematics competition in 2013 and 2015. In the SAT test in December 2015, he scored 2300 points out of 2400, the best in his set of 127 students. He recorded 4A* and 2As in the International Cambridge GCE 2015 exams.” Aderinoye added: “Fejiro, as he is fondly called was the second best in the SAT test in his set of 127 students. He has also won the Certificate of Honour for outstanding performance in Mathematics in 2013, 2014, 2015, and 2016. In the Cambridge GCE 2015, he scored 4A* and 3As.”

L-R: Students ofTrinity International College, Ofada, Ogun State, Ebuka Okoli and Amaechi Abuah with the Olympiad tour guide, Moro Gabriele, during the 2016 International Physics Olympiad in Switzerland… recently

NTI to Train over 16,000 Teachers Nationwide John Shiklam in Kaduna The National Teachers’ Institute (NTI), Kaduna has concluded plans to train 16,350 school teachers across the country. The Director General, Prof. Garba Dahuwa Azare, who disclosed this in Kaduna during a stakeholders’ meeting on the 2016 Sustainable Development Goals (SDGs), said the training would commence in November in each of the senatorial zones of the country. He said the institute has the capacity to conduct any profes-

sional training for teachers in the country. “With the network of our field officers that are scattered in all nooks and crannies of the country, we have comparable advantage of sourcing most qualified and competent resource persons for any given work for the Nigerian teachers.” He added that the NTI has a strong partnership with the first generation universities and some colleges of education in addition to tapping from the reservoir of talents that abound in local institutions and communities.

Azare disclosed that between 2006 and 2015, the institute trained 749,158 teachers through the positive impact of the Millennium Development Goals (MDGs), adding that in its efforts to improve on previous training performances, it adopted the residential system of training in 2014 where 110 participants were accommodated and fed for a week. He regretted that the institute is constrained by its budgetary allocation from the initial N4 billion in 2006 to less than N1 billion in recent years, adding

that the NTI has greater role to play in the education sector as the country transits from MDGs to SDGs. According to him, the institute plans to train primary and junior secondary school (JSS) teachers on the concept and principles of SDGs, as well as train them to integrate SDGs in the teaching of the four core subjects of Basic Science and Technology, English Language, Mathematics and Social Studies, among others.

Ugwuanyi Procures N450m Desks, Chairs for Primary Schools Christopher Isiguzo in Enugu Determined to improve the standard of education in the state, Governor Ifeanyi Ugwuanyi of Enugu State has acquired about 13,000 school furniture worth over N450 million for distribution to primary schools in the state. The governor, who has consistently described the state of some public schools in the state as unacceptable, said the acquisition of the furniture which include desks

and chairs for children and their teachers would improve the standard of education in the state, stressing his desire to create an enabling environment for teaching and learning to thrive. Speaking at the formal unveiling of the materials in Enugu recently, Ugwuanyi, who was represented by the Deputy Governor, Mrs. Cecilia Ezeilo, said education formed the basic plank of his administration from inception. He recalled that on assumption of office, his administra-

tion embarked on school visits during which it witnessed the situation of infrastructure in public schools. “Those visits are paying off tremendously as we are able to design transformation programmes based on our findings and limited resources and ensure that whatever we do impacts on the lives of our children in schools.” He said his administration also made a commitment to create fair opportunity for every willing citizen to make

a living and create wealth “educate our children and enjoy life in a peaceful and secure environment.” Ugwuanyi said his administration is committed to ensuring that children are comfortable in their classrooms in order to make the job of teaching easier for teachers, revealing that 90 per cent of the renovation and reconstruction of about 370 classroom blocks in public schools across the state have been completed.

Don’t Turn the Other Cheek! One ‘behaviour’ that cuts across social strata, peoples, animal and indeed plants is bowel behaviour. It is as individual as it is common to all that is living. You simply must ‘go!’ Generally, health professionals begin to worry, if after three days an individual has not had a bowel movement. Ideally over any week, you should be moving your bowels three times. Remaining without a bowel movement for longer than three days or more suggests constipation. Stools passed after such a length of time tend to be harder and more difficult to pass. Constipation has to do with going to the toilet less frequently than you normally would do and mirrors a change in your normal bowel routine. Constipation is experienced differently by everyone. Constipation is very uncomfortable for all; it is worrying and may even be degrading. People have reported a number of symptoms of constipation. The main ones are: Straining to pass faeces, feeling bloated, stomach cramps/ pains, swollen abdomen, excessive flatus/wind, smearing/ soiling, passing hard and painful stools, not completely emptying the bowel and feeling so vomiting. It has been suggested that more than half of people, the world over would have bowel issues at some point in their lives. Constipation could be a long standing problem for some people. For others, it could be an occasional occurrence. Some people would have to be on long-term prescribed laxatives and diet-watch to manage their bowels; while others may only need the odd homely-remedy plus a little alteration to their lifestyle to get their bowels going. Generally, women are thought to be much more likely to suffer constipation than men. However for everyone, changes in their digestive system would cause them to have constipation. When your diet does not consist of enough fruits, vegetable and fiber and you are not drinking enough fluids, you should expect to be constipated. Stress and lack of exercise are also contributing factors for constipation. It is important for you to be aware of the correct position needed for opening your bowel. Firstly, when you sit on the toilet, your knees need to be higher than your hips. To achieve this position, you might even need to place your feet on a foot rest if the toilet sit is too higher. Next lean forward and put your elbows on your knees. Bear down while bulging out your abdomen and keep your spine straight. Help your children, frail and elderly people around you to achieve this correct position for successfully opening their bowels. It might be all that is needed. Ignoring constipation, when you are experiencing it could be damaging. Leaving it unresolved may end up in you needing a colostomy. If you do not begin to tackle the problem, the waste produced from your food would continue to accumulate in your intestine. This could then cause your bowel wall to stretch and its muscles flag and operate less efficiently and effectively. The more waste you build up in your bowels, the more difficult it would be for your faeces to move through your bowels. Several complications could result from this situation.. Omoru writes from the UK

36 Students for Cowbellpedia TV Quiz Semi Finals A total of 36 students in junior and senior categories have qualified for the semifinals of the 2016 Cowbellpedia Secondary Schools Mathematics Television Quiz Show at the end of the preliminary rounds that recently. They will battle for the 12 slots in the finals of the competition. Out of the 47,000 candidates that participated in the first stage written examination, only 108 qualified for the second stage, a television quiz show which started on July 31. The number consists of 71 males (66 per cent) and 37 females (34 per cent). Of the 36 semi-finalists, there are 17 males (47 per cent) and 19 females (53 per cent). The

breakdown of the figure shows that out of every 10 females that participated in the preliminary rounds, five qualified, while out of 10 males that participated in the preliminary rounds, two qualified for the semi-finals. This year, to encourage girlchild education, the sponsor, Cowbell Milk directed that mixed schools should nominate a minimum of two girls in each category to represent them. The above statistics has validated the sponsor’s directive. Another highlight of this year’s competition is that all the eight students that participated in the preliminary rounds from The Ambassadors College, Ota, Ogun State secured semi-final tickets.

T H I S D AY • WEDNESDAY, OCTOBER 5, 2016

EDUCATION

Agency for Mass Education Suspends Clampdown on Tutorial Centres Funmi Ogundare The Lagos State Government through the Agency for Mass Education has suspended the clampdown on Continued Education Centres (CECs)/ tutorial centres till November 25, 2016 to allow full compliance with its regulations by all centres. This decision was made after a meeting with critical stakeholders recently, where the Special Adviser to the Governor on Education, Mr. Obafela Bank-Olemoh reiterated the governor’s directive on standardising the education sector in line

with best practices. “Every centre must align with the drive of the state government to standardise our education sector by getting registered. As a government, we must set standards and enforce them.” He said a technical committee would be set up comprising officers of the ministry of education led by the permanent secretary, office of special adviser and other stakeholders, adding that it would review the framework for proper regularisation of the continuing education centres/ tutorial centres in the state. Responding, the stakeholders

agreed that the state’s plan to regularise the operations of tutorial centres is a welcome development that would be beneficial to the educational system. “We are not against the government; we are also worried about the activities of quack tutorial centre operators.” In another development, the

re-sit examination for candidates who failed either English Language or Mathematics or both in the last 2016 Basic Education Certificate Examination (BECE) will hold on October 15.The Director, Lagos State Examinations Board, Mr. Olufemi Hassan in a statement said the examination, which was formerly scheduled for

September 29 was postponed to enable affected candidates register and pass their failed papers. He said the examination will hold at 39 designated centres across the six education districts between 9am and 2pm with each paper taking two hours, adding that the affected candidates are to register for the re-sit on or

before October 7. “18,455 candidates are expected to sit for English Language or Mathematics or both papers as it affect them. Students are urged to study hard for better performance in the examination and remember that the result will be used for their transition into senior secondary school.”

Visually Impaired Man Trains Students on Website, App Devt A 27-year-old visually impaired man, Mr. Rasak Adekoya has trained 60 students of Babs Fafunwa Millennium Secondary School, Lagos on website and mobile apps development. The students after two months of training, developed Lagos State laws mobile apps and official website of the Ojodu Local Council Development Area (LCDA). Speaking during the launch of the apps and websites recently at the Ojodu LCDA Secretariat, Adekoya said he decided to train the students to equip them with skills to enable them take their destinies in their hands. According to him, the training became imperative given the need to catch the youths early enough and to develop them to become self-reliant in future. Adekoya, who lost his sight shortly after graduating from the Lagos State Polytechnic, regretted that some of the challenges currently facing the society could be traced to lack of pragmatic change to impact positively in the lives of students to become entrepreneurs, adding that his major concern was to impart pragmatic change in the youths and 57 schools in 57 local government areas of the state by 2018. He stated that unemployment has become a major challenge in Nigeria, saying that equipping the youths with requisite skills to become self- employed is a direction to go now in the country. With about 1.8 million people graduating from the country’s tertiary institutions every year and over 30.5 million people currently unemployed, he stressed that relevant skills acquisition will help reduce the unemployment rate. “I trained these young minds as part of my contributions to better the society. No body or organisation supported me throughout the programme for the students. I used my personal earnings to organise the programme.” He urged the beneficiaries to use the

knowledge acquired to better themselves and the society. One of the beneficiaries of the programme, a 15-year-old senior secondary three (SS3) student of the school, Master Akintola Ebenezer said he was happy to have gone through the training, adding that it has made a lot of impact in his life and perceptions towards becoming self-employed. He said the participants designed the Ojodu LCDA website in such a way that everyone can get information concerning Ojodu LCDA and its environs without much hitches. “The training and experience are worthwhile for me and I will make good use of the knowledge to improve and develop myself.” Another beneficiary, a 13-year-old SS2 student, Miss. Kaku Marvelous said the training was one of the best things that has happened to her in the recent times. She said the Lagos laws mobile apps will enable the public to have access to the laws of the state through mobile devices, adding that with the apps, Lagosians can download and have access and knowledge about the laws of the state. In her remarks, the, Sole Administrator of Ojodu LCDA, Alhaja Olushola Kokumo, who was visibly excited, commended Adekoya and his crew for the laudable project and urged youths to remain focused and resolute. She said it has become necessary to acquire skills as jobs are hard to come by these days, adding that as leaders of tomorrow, the youths should embrace training to become employers of labour, rather than roaming the streets looking for non-existing jobs. The Principal of the school, Mrs. Adepoju Oyefunke, urged the students to deploy the knowledge they have acquired positively to better the society and themselves. She thanked Adekoya for imparting the knowledge in the youths of the state.

REWARDING INGENUITY

L-R: Milliot Niku of British Petroleum; the BP Prize winner, Ignatius Akpabio; and the Head, School of Computing and Digital Media at Robert Gordon University, United Kingdom, Professor Chrisina Jayne, at the 2016 BP Prize for the best project on the course at the school’s

Landmark Varsity Has Graduated 1,557 Since Inception, Says VC Hammed Shittu in Ilorin A total of 1,557 students have graduated from Landmark University, Omu-Aran, Kwara State since its inception six years ago. The university was granted an operational license by the federal government on March 7, 2011 and it commenced operations on March 21, 2011. The Vice-Chancellor, Professor Aize Obayan, who disclosed this to journalists at Omu-Aran during the 62nd birthday of the Chancellor and founder of the university, Dr. David Oyedepo, added that all the courses being offered by the university have been accredited by the National Universities Commission (NUC). She said the current student population of the university stands at 2,452, out of which 10 are international students. “The total number of students pursuing degree courses in the College of Science and Engineering are 1,644; College of

Agricultural Science, 188; while those pursuing degree courses in the College of Business and Social Sciences are 897 students.” She explained that the institution was established to raise a generation of solution-providers through a qualitative and lifeapplicable training system that focuses on value and creative knowledge. “Apart from this, the university is poised to raise a new generation of leaders through a broad-based qualitative education built on sound biblical principles culminating in the birth of breadwinners, job creators and world changers. “We are also raising an army of reformers who shall redeem the battered image of the black race and restore her lost glory as these wellequipped graduates begin to build the old waste, repair the wasted cities and raise the desolation of many generations as pathfinders.”

Group Demands Sack of Minister over Removal of 13 Vice-Chancellors Adedayo Akinwale in Abuja A rights group, Concerned Citizens for Educational Development has called on President Muhammadu Buhari to immediately sack the Minister of Education, Mallam Adamu Adamu for unilaterally removing 13 vice-chancellors of federal universities in contradiction of the laid down academic procedure. According to a statement by its National Convener, Solomon Adodo, the unilateral decision of the minister to sack the vice-chancellors and appoint replacements immediately without having to consult governing councils of the respective institutions was a misplacement of priority. He described the minster’s action as unconstitutional and a flagrant abuse of the 2009 ASUU/FG terms of agreement and the 2012 MoU. “We therefore call on President Buhari to maintain his integrity and uphold transparency and

due process by immediately sacking the minister for causing the federal government this avoidable embarrassment. “The president should order and ensure the reinstatement of the wrongly sacked vicechancellors so that they can complete their respective tenures. He should further direct the ministry of education to comply with laid down procedure of advertising, interviewing and appointment of vice-chancellors by governing councils.” The group pointed out that the newly appointed vice-chancellors came from the same institution and state in contradiction of academic processes. It also commended the courage and sincerity of the Chairman, Academic Staff Union of Universities (ASUU), ATBU, Bauchi Chapter, Adamu Babayo for condemning the action of the minister, but condemned the conspiratorial silence of ASUU at the material time.

Teacher Explains Her Method of Teaching Maths to Sustain Students’ Interest A Mathematics teacher at Pegasus High School, Eket, Akwa Ibom State, Mrs. Essien Bassey, has disclosed that her method of “preaching mathematics like a church sermon” has helped in sustaining her students’ interest in the subject. Bassey, who accompanied her student to the venue of the ongoing 2016 Cowbellpedia Mathematics Television Quiz

Show in Lagos, explained that mathematics requires a lot of emotions on the part of the teacher and students. “I have found out that mathematics, like religion requires a lot of emotions; and since I discovered this, I have changed my tactics. Now I preach mathematics; I don’t teach it. The bible is full of parables which Jesus used to illustrate his teachings

that appeared difficult to his followers. The parables simplify the stories and consequently connect to the emotions of the listeners. I do the same thing in my class and it is working.” She maintained that mathematics is an emotional subject that should be taught with a lot of conviction to achieve short and long-term objectives. “The short-term goal is for the

students to pick enough interest to pass the subject, while the long-term goal for me is to convert the students to great mathematicians,” Bassey, who has been teaching the subject for the past 13 years, said. Her student, Uwakmfom Utuk and Ademola Fatoke of Ota Total Academy, Ogun State qualified for the semifinal in the senior category.

WEDNESDAY, OCTOBER 5, 2016, • T H I S D AY

CITYSTRINGS

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

Anambra Prepares for Impending Floods The Nigerian MeteorologicalAgency months ago issued warnings on impending floods this year. Anambra was one of the states named that may possibly experience it. David-Chyddy Eleke reports on the level of preparedness of the state and its residents

Houses submerged by the 2012 flood disaster in Anam, Anambra East Local Government Area

lood is no longer a new happening to residents of Anambra State, at least not after the 2012 disaster which claimed properties worth several billions of naira, accompanied by loss of lives, in which Anambra State had its fair share. This year similarly, the Nigerian Meteorological Agency (NIMET) has raised the alarm over flood that may likely occur in some states of the country, and Anambra was also listed. In Anambra State, however, 10 local governments have been listed to be among those that will suffer the effect of the impending flood should it happen, and the state and all its agencies responsible for disaster management have gone to work already. Among the Local Government Areas penciled down are; Ayamelum, Ogbaru, Anambra East, Anambra West, Onitsha North and Onitsha South. Others are Ihiala, Ekwusigo, Idemili North, Idemili South and Awka North. On hearing of the prediction however, the Anambra State Governor, Chief Willie Obiano, moved swiftly, directing the State Emergency Management Agency, SEMA to commerce sensitisation in the riverine areas of the state to mitigate any hardship, which might result from the flood disaster. As measures to ensure that this year’s flood would not be as disastrous as what was registered

in 2012, the Anambra State government, using the Ministry of Environment and the State Emergency Management Agency, in collaboration with Red Cross have put in place a number of ways to

You can see the kind of houses we live in here. We are very familiar with the activities of flood, so our valuables are not here, so in the case of any flood, we will simply leave this batcher and move to other places. The experience of 2012 even taught us that it is better to live in cheap houses like this, so that you will not suffer a heart break in the case of your house being submerged

save lives should it come to pass. The state Commissioner for Environment, Engr. Romanus Ejikeme, told THISDAY during a visit to his office that, “the governor is very careful to ensure that what happened in 2012 does not repeat itself. He has directed that we go into partnership with SEMA, and we have done so, and the results are already manifesting.” The commissioner said that already, Internally Displaced Persons (IDP) camps have been set up in the areas that have been predicted to experience this year’s flood, so that once there are signs of flooding, the people of every area that is affected will know which IDP camp is nearest to them and run for help to such places. The commissioner said, “Camps have been designated for IDPs in all these places, and government foreseeing what would constitute challenges of the IDPs when they resume camping has set up toilets and other facilities in such places, and also made security available for them.” When THISDAY visited some of the areas that were named as among those to experience flood later this year, it was found that in some areas, residents have moved some of their sensitive belongings out of their homes so as not to feel the full impact should the flood come all of a sudden. The same is not the case in some others areas as residents even feigned ignorance of any impending flood, accusing government of not doing enough to sensitise them.

In Enugu Otu, Aguleri, in Anambra East Local Government for example, Boniface Okagbue, a youth leader of the community who though resides in Awka denied that the community has enough information about the impending flood. He said the people of the community are still living their normal lives because no one has informed them. He denied also that any form of information or sensitisation campaign going on, or being been passed to the people, except if the sensitisation team is still going round and may come to their community later. But Comrade Dominic Nnamdi who also spoke to THISDAY from the same Aguleri Otu disputed Okagbue’s assertions, saying that sensitisation seminars have been held. Nnamdi said he was one of those nominated to attend a seminar on flood and fire safety in Awka, and that the measure was aimed at equipping the people with the right knowledge to help them stay safe in the event of flood. He added that as one of those who represented the community at the seminar, he and his team have also reported back to the leaders of the community, hoping that the information gathered would be disseminated round the community to arm the people on how to avoid the impending flood. In Ogbaru, another town known to be on the banks of the River Niger, the residents told THISDAY that they regularly experience flooding because of the location of the community, but

WEDNESDAY, OCTOBER 5, 2016, • T H I S D AY

CITYSTRINGS

being that they have been warned about the impending flood this year, most of the residents of the area have moved their valuables. Mrs. Florence Onyike said, “you can see the kind of houses we live in here. We are very familiar with the activities of flood, so our valuables are not here, so in the case of any flood, we will simply leave this batcher and move to other places. The experience of 2012 even taught us that it is better to live in cheap houses like this, so that you will not suffer a heart break in the case of your house being submerged,” she said. On how the state is monitoring the level of water in order not to be caught unawares, the commissioner said his ministry has deployed the stick signal, which has been set up, and personnel deployed to read the level of the water and to raise the alarm when signals are clear. He added that the committee set up by the governor has also been working assiduously to ensure that early detection and quick evacuation was complied with. In addition to the effort of the committee, the SEMA speaking through the Executive Secretary, Mr. Paul Odenigbo told THISDAY that the agency has trained 10 persons in each local government on ways of staying safe in the event of flood, with the charge to help disseminate information to people living in areas prone to flood. Odenigbo said the agency has also taken its sensitisation drive to the areas penciled down to experience flood, with a call on the people to begin early to move away valuable properties from their homes to places where they can be safe, and to also remain on red alert, especially in the night and be ready to leave in a hurry. To add its voice, the Willie Obiano Support Group said it has begun to sensitise people living in riverine areas. Chief Jude Emecheta, the coordinator of the support group, told journalists in an interview that his group, though a political pressure group has joined in the campaign to ensure that the people are adequately sensitised on what to do should there be sudden flooding in their area. Emechata said the group needed to do this because as a support group for the governor, and seeing the seriousness of the governor to ensure the safety of the citizens, the group decided that it was also a form of support to help reach the people as the governor would desire. Beyond this, the state governor recently engaged the Institute of Safety Professionals of Nigeria (ISPON) for a one-day sensitisation seminar of safety during fire, flood and other household disasters that may occur. During the seminar, the president of ISPON, Dr. Nnamdi Ilodiuba took time to teach a large crowd of attendants some of the safety and precautionary measures to apply in the case of emergency involving, fire, flood or any other. Ilodiuba marshaled out various techniques

The major role of government in the society is safety of lives and property. It is my job to ensure that you are safe, and that your properties are also safe. That is why we put together this seminar in collaboration with the ISPON people to teach you how to take the safety of your lives and those of your property seriously. Even as flood has been predicted to be a problem in some parts of our state this year, we hope that what you have learnt here will help you to safeguard yourselves. We are not praying that the flood should come, but we must take every step to ensure your safety

People living on the bank of Ogbaru River accessing their submerged houses by canoe during the 2012 flood disaster

Former Anambra State Governor, Peter Obi (middle), inspecting a flooded area of the state in 2012

Minister of Environment, Amina Mohammed...should create more awareness on the impending floods

that would ensure safety for the people, while the governor who also graced the seminar charged residents of the state on strict adherence to the principles taught as a way of staying safe. Obiano while addressing the people said, “The major role of government in the society is safety of lives and property. It is my job to ensure that you are safe, and that your properties are also safe. That is why we put together this seminar

in collaboration with the ISPON people to teach you how to take the safety of your lives and those of your property seriously. Even as flood has been predicted to be a problem in some parts of our state this year, we hope that what you have learnt here will help you to safeguard yourselves. We are not praying that the flood should come, but we must take every step to ensure your safety,” the governor said.

From the response of most people of the state who attended the seminar, and their manifest confidence that they can better deal with flood now, it is hoped that should the prediction of NIMET come true in Anambra, its effect may not be anything near what happened in 2012. For this the governor and his team, Chief Odenigbo, the Executive Secretary of SEMA in the state believe will be to the credit of the governor.

WEDNESDAY OCTOBER 5, 2016 T H I S D AY

T H I S D AY WEDNESDAY OCTOBER 5, 2016

WEDNESDAY OCTOBER 5, 2016 T H I S D AY

WEDNESDAY OCTOBER 5, 2016 • T H I S D AY

INTERNATIONAL

email:foreigndesk@thisdaylive.com

50 Ethiopians Killed in Stampede 50 Ethiopians have been killed after Police in Oromiya region fired teargas and warning shots on Sunday to disperse anti-government protesters at a religious festival. The government did not give a precise death toll resulting from chaotic scenes during the annual festival where some people chanted slogans against the government and waved a rebel group’s flag. But it said “lives were lost” and that several were injured. Sporadic protests have erupted in Oromiya in the last two years, initially sparked by a land row but increasingly turning more broadly against the government. Since late 2015, scores of protesters have been killed in clashes with police. These developments highlight tensions in the country where the government has delivered stellar economic growth rates but faced criticism from opponents and rights group that it has trampled on political freedoms. Thousands of people had gathered for the annual Irreecha festival of thanksgiving in the town of Bishoftu, about 40 km (25 miles) south of the capital Addis Ababa. Crowds chanted “we need freedom” and “we need justice”, preventing community elders, deemed close to the

government, from delivering their speeches at the festival. Some protesters waved the red, green and yellow flag of the Oromo Liberation Front, a rebel group branded a“terrorist”organisation by the government, witnesses said. When police fired teargas and guns into the air, crowds fled and created a stampede, some of them plunging into a deep ditch, witnesses said. The witnesses said they saw people dragging out a dozen or more victims, showing no obvious sign of life. Half a dozen people, also motionless, were also seen being taken by pick-up truck to a hospital, one witness said. “As a result of the chaos, lives were lost and several of the injured were taken to hospital,” the government communications office said in a statement, without giving figures.“Those responsible will face justice.” Merera Gudina, chairman of the opposition Oromo Federalist Congress, told Reuters at least 50 people were killed, saying his group had been talking to families of the victims. He said the government tried to use the event to show Oromiya was calm. “But residents still protested,” he said. The government blames rebel groups and dissidents abroad for stirring up the protests and provoking violence. It

Colombia’s Santos, FARC Scramble to Revive Peace after Shock Vote Colombia’s government and Marxist FARC guerrillas are scrambling to revive a plan to end their 52-year war after voters rejected the hard-negotiated deal as too lenient on the rebels in a shock result that plunged the nation into uncertainty. Putting on a brave face after a major political defeat, President Juan Manuel Santos offered hope to those who backed his four-year peace negotiation with the Revolutionary Armed Forces of Colombia (FARC) in Cuba. Latin America’s longest conflict has killed 220,000 people. “I will not give up, I will keep seeking peace until the last minute of my term,”he said moments after losing Sunday’s plebiscite to those who want a re-negotiation of the deal or an obliteration of the FARC on the battlefield. Santos plans to meet all political parties on Monday and send lead government peace negotiator Humberto de la Calle back to Havana to speak to the FARC leadership. Rodrigo Londono, the top FARC commander better known by his nom de guerre Timochenko, also offered reassurance the rebels remain committed to becoming a peaceful political party. “The FARC reiterates its disposition to use only words as a weapon to build toward the future,”Timochenko said after the result.“Count on us, peace will triumph.” Santos, 65, who was not obliged by law to hold

a plebiscite, had said there was no Plan B for the failure of the peace vote, but now appears ready to consider options. Colombians, even those who backed the“No”vote, expressed shock at the outcome and uncertainty about the future. “We never thought this could happen,” said sociologist and “No” voter Mabel Castano, 37. “Now I just hope the government, the opposition and the FARC come up with something intelligent that includes us all.” The peace accord reached last month and signed a week ago offered the possibility that rebel fighters would hand in their weapons to the United Nations, confess their crimes and form a political party rooted in their Marxist ideology. The FARC, which began as a peasant revolt in 1964, would have been able to compete in the 2018 presidential and legislative elections and have 10 unelected congressional seats guaranteed through 2026. That enraged“No” supporters, including powerful former president Alvaro Uribe, who argued the rebels should serve jail terms and never be permitted to enter politics. Uribe, a onetime ally who has become Santos’ fiercest critic, may now hold the key to any potential re-negotiation. While the FARC has refused to serve traditional jail terms, it may see no future in returning to the battlefields and so consider some sort of new deal.

dismisses charges that it clamps down on free speech or its opponents. Protesters had chanted slogans against Oromo People’s Democratic Organisation, one of the four regional parties that make up the Ethiopian Peoples’ Revo-

lutionary Democratic Front, which has ruled the country for quarter of a century. In a 2015 parliamentary election, opposition parties failed to win a single seat - down from just one in the previous parliament.

Opponents accused the government of rigging the vote, a charge government officials dismissed. Protests in Oromiya province initially flared in 2014 over a development plan for the capital that would have

expanded its boundaries, a move seen as threatening farmland. Scores have been killed since late in 2015 and this year as protests gathered pace, although the government shelved the boundary plan earlier this year.

LAST RESPECT

Israeli Prime Minister, Benjamin Netanyahu, observes a moment of silence after laying a wreath near the grave of former Israeli President, Shimon Peres…recently

Kenya: Database Shows Police Killings on the Increase Police killings of Kenyans are on the rise, a Kenyan newspaper said on Sunday, as it published the country’s first comprehensive database detailing hundreds of such alleged killings in the past two years. The Daily Nation, one of Kenya’s top selling newspapers, said it hoped the database covering 262 killings since the beginning of 2015 would help policymakers tackle police impunity. Kenya’s struggle to track such killings has many parallels with the United States, the paper’s data editor Dorothy Otieno said. In both countries, the lack of official information about police killings prompted the national media to begin compiling their own statistics, she said. In the United States, the

Federal Bureau of Investigation announced last week it would begin tracking police use of deadly force, U.S. media reported. But Kenyan authorities do not track police killings.“The police are one of the major institutions in any country. They have the power of life and death. So the media has to play a watchdog role if the government isn’t tracking this [police killings],”Otieno said. The database showed 121 Kenyans were killed by police in the first eight months of 2016, compared to 114 in the same period last year. Cases included a 4-year-old girl shot near a demonstration, a 14-year-old girl whom two officers said attacked them and scores of young men in the slums described as criminals by police.

In most cases, police admitted the killings but said they were justified, Otieno said. In other cases, witnesses said police were involved. Kenyan police say killings are mostly justified and deny impunity is a problem.“There’s no policy in the government to kill anyone,” police spokesman Charles Owino said. “Remember, there’s circumstances in law when officers are justified to use their firearms against people. And in order to protect life of the police officer, life of the citizen and even property and many other underlying circumstances.” In June, hundreds of Kenyans demonstrated after human rights lawyer Willie Kimani, his client and their driver were shot dead after suing the police over

a shooting. Kenyan officials did not respond to questions about the number of cases submitted to or investigated by the country’s police oversight body, set up in 2012. The Independent Policing Oversight Authority’s website only mentions three cases where officers were charged for shooting civilians. Mutuma Ruteere, the director of the Centre for Human Rights and Policy Studies in Kenya, said it was very rare for police to face punishment. “There’s a large number of people who get killed [by the police] but who die, who get buried anonymously. Nothing is done. Over time that becomes a cancer, a virus, within the police,” he said.

Brazil Parties Linked to Corruption Punished in Local Elections Brazilian political parties implicated in the massive Petrobras corruption scandal, including that of President Michel Temer, suffered major setbacks in Sunday’s municipal elections that put right-leaning candidates ahead in key cities. The leftist Workers Party (PT) of former President Dilma Rousseff, who was impeached in August, was the worst hit and lost the country’s largest city, Sao Paulo, to its main rival, the centrist Brazilian Social Democrat Party (PSDB), which elected millionaire businessman Joao Doria to be mayor. Temer’s Brazilian Democratic

Movement Party (PMDB) lost its longtime hold over the cashstrapped city of Rio de Janeiro, which just held what many considered a successful Olympics. Instead, a conservative evangelical bishop, Senator Marcelo Crivella, will face a runoff against Marcelo Freixo of the Socialism and Liberty Party (PSOL), a leftist breakaway from the PT, to decide who leads Rio. Voters punished the PT, which ruled for 13 years, for holding the presidency during Brazil’s biggest political corruption scandal and leading Latin America’s largest economy into its worst recession

since the 1930s. “It was a clear sign of dissatisfaction of the voters, mainly in Sao Paulo and southeastern Brazil,”said political analyst Luciano Dias, a partner in the Brasilia-based consultancy firm CAC. Adding to the drubbing suffered by the PT, Doria won Sao Paulo in the first outright victory in the city’s mayoral race since run-offs were introduced to the city in 1992. The PT lost four of the five state capitals it had run, including Sao Paulo, the country’s economic powerhouse where the leftist party was born. The PT lost two-thirds of the municipalities it won in

2012, dropping to 10th place from third in the number of mayors controlled by each party. The PT’s candidate in Sao Paulo’s industrial suburb city of Sao Bernardo do Campo, the hometown of the party’s founder Luiz Inacio Lula da Silva, did not make it to the second round, despite strong stumping by the former president. Lula left office in 2011 with the highest approval rating of any Brazilian leader but will now stand trial for corruption in the massive bribery and political kickback scandal at state-run oil company Petroleo Brasileiro.

WEDNESDAY OCTOBER 5, 2016 T H I S D AY

T H I S D AY WEDNESDAY OCTOBER 5, 2016

WEDNESDAY OCTOBER 5, 2016 T H I S D AY

WEDNESDAY OCTOBER 5, 2016 • T H I S D AY

INTERNATIONAL

Clinton: My Worries Are Not the Same as Black Grandmothers Hillary Clinton told a majority-black church in North Carolina on Sunday that she knows her grandchildren are growing up in a different world than many black youth in the U.S. who are concerned about police shootings and gun violence in their communities. The Democratic presidential nominee’s remarks at the Little Rock AME Zion Church in Charlotte were a frank acknowledgment of the impact of what she has called “implicit bias” in policing can have on black communities. Clinton cited the death of 43-year-old Keith Scott, a black man who was shot by police in front of a Charlotte apartment complex on Sept. 20. She also lamented the death of 40-year-old Terence Crutcher, who was shot days before during a Tulsa traffic stop. Both shootings led to community protests.

The Tulsa police officer has pleaded not guilty to a manslaughter charge. “I’m a grandmother, and like every grandmother, I worry about the safety and security of my grandchildren, but my worries are not the same as black grandmothers, who have different and deeper fears about the world that their grandchildren face,” Clinton said. Clinton described testimony that Taje Gaddy, 10, and Zianna Oliphant, 9, gave last week before the Charlotte City Council about violence in their community. Clinton later summoned Oliphant to join her on the stage. “I wouldn’t be able to stand it if my grandchildren had to be scared and worried the way too many children across our country feel right now. But because my grandchildren are white, because they are the grandchildren of

a former president and secretary of state, let’s be honest here, they won’t face the kind of fear that we heard from the children testifying before the city council,” Clinton said. Clinton has made gun violence a focus of her presidential campaign. Mothers who have lost children in shootings have joined her on the campaign trail. Clinton has said police officers should be trained to recognize implicit bias and called for the official police video of the Charlotte shooting to be released. Donald Trump, the Republican nominee, said at a rally after Crutcher’s shooting that it looked like he had done “everything he was supposed to do.” On Twitter, he criticized Clinton’s trip to Charlotte, which was postponed one week at the behest of the city’s mayor, as a chance to “grandstand.”

Taliban Fighters Enter Northern Afghan City of Kunduz Taliban fighters mounted a coordinated assault on the northern city of Kunduz overnight, attacking from four d i r e c t i o n s a n d e n t e ring urban areas and threatening a repeat of the operation in which they seized the city exactly a year ago. Sheer Ali Kamawal, commander of the 808 Ta n d a r p o l i c e z o n e i n Kunduz, said the attack began at around midnight (1930 GMT Sunday) and fighting was still going on in a n d a r o u n d t h e c i t y. S o m e Ta l i b a n f i g h t ers had entrenched themselves in residents’ houses. Military helicopters flew overhead and g u n f i re c o u l d b e h e a rd in Kunduz, where Afghan troops backed by American air strikes and special forces were fighting a year ago to the day to drive out insurgents who had r a i s e d t h e Ta l i b a n f l a g i n t h e c i t y c e n t e r. Po l i c e spokesman Mahfozullah Akbari said security forces were preparing an operation to drive out the fighters, who had set up in the Khak Kani area in the southwest of the c i t y. “ T h e Ta l i b a n a r e inside some civilian houses and we have to carry out operations very carefully,” he said. A statement from the interior ministry said

reinforcements were b e i n g s e n t t o t h e c i t y. Monday’s attack, a day before the start of a major donor conference in Brussels, underlines t h e p re c a r i o u s s e c u r i t y situation in Afghanistan, where government forces are estimated to have control over no more than two thirds o f t h e c o u n t r y. “A massive operation started on Kunduz capital from four directions e a r l y t h i s m o r n i n g ,” Ta l i b a n spokesman Zabihullah Mujahid said i n h i s o f f i c i a l Tw i t t e r account. He said the Nawabad area with four checkpoints had been captured and a number of soldiers had b e e n k i l l e d . I t wa s n o t immediately possible to verify the claim. A Reuters reporter saw at least five Taliban fighters armed with AK-47 assault rifles, machines guns and rocket-p r o p e l l e d g r e n a d e s i n t h e c i t y. H e saw fighters entering the houses of residents and taking up position on rooftops. The attack came as the Ta l i b a n have stepped up operations in different parts of Afghanistan, including the strategic southern province of H e l m a n d , w h e r e they h av e b e e n t h r e a t e n i n g the provincial capital of Lashkar Gah. O n M o n d a y, Ta l i b a n

fighters, now positioned just across the Helmand river from the center of Lashkar Gah, also took control of Nawa district to the south o f t h e c i t y, i n f l i c t i n g casualties and killing the local police chief, officials said. Heavy fighting has also continued along the main highway to Tarin Kot, the provincial capital of Uruzgan in the south, where a Taliban raid on Sept. 8 also sparked fears of another collapse like that in K u n d u z l a s t y e a r. T h e fall of Kunduz last year was one of the most s e r i o u s b l o w s s u f f e re d by t h e We s t e r n - b a c k e d government in Kabul since the withdrawal of i n t e r n a t i o n a l t ro o p s a t the end of 2014. A l t h o u g h t h e i n s u rgents abandoned the city after a few days, the demonstration that they were a b l e t o t a k e a provincial capital underlined their growing strength and exposed serious flaws in Afghan security forces. A f g h a n i s t a n ’s international partners are due to s t a r t a two-day conference i n B r u s s e l s o n Tu e s d ay, w h e r e t h ey a r e expected to approve maintaining billions of dollars in funding for the gove r n m e n t over the next four years.

T H I S D AY • WEDNESDAY, OCTOBER 5, 2016

BUSINESS/MONEYGUIDE

Alade: Oil Sector Exposure Constitutes 40% of Banks’ Loans Obinna Chima The Central Bank of Nigeria (CBN) Deputy Governor (Economic Policy), Dr. Sarah Alade has revealed that oil and gas exposures constitute about 40 per cent of the banks’ loan portfolio. However, Alade, who disclosed this in an interview with The Banker magazine, pointed out that only about 50 per cent, of the 40 per cent mentioned above, was to the upstream sector, where the greatest risk currently resides. “These loans were booked when the price of oil was $140 per barrel. Now that oil has fallen to about $40 per barrel, the obligors are finding it difficult to meet repayment obligations. Consequently, most of these facilities have been restructured,” Alade said. The reduced repayments have exacerbated the foreign currency liquidity stress of the banks, as some of these loans were granted in foreign currency. However, stress tests conducted by the CBN showed that if up to

half of these exposures are lost, the banking system is resilient enough to absorb these losses with their exceptionally high capital ratios, which is made up mainly of loss-absorbing Tier 1 capital. The latest International Monetary Fund (IMF) Article IV 2016 report admitted that Nigerian banks are ‘generally wellcapitalised and more resilient’ today than during the period of the global financial crisis of 2008/09, which resulted in several banking failures around the world and intervention in the Nigerian banking sector. On the macro-prudential front, the central bank has implemented a number of policies to help strengthen and ensure stability in the banking system. One of the policies implemented was to increase the requirement for general provisioning on performing facilities from one per cent to two per cent with effect from November 11, 2015. After experiencing an average growth rate of seven per cent over the past decade, gross domestic product [GDP] growth in the second quarter of 2016

stood at -2.6 per cent. The Nigerian economy is facing a number of challenges as a result of the oil price slump. These include low government revenue, low capital inflow, a high unemployment rate, large currency depreciation and low financial buffers. According to Alade, to reverse this trend and restore macroeconomic stability, a number of short-term and long-term monetary and fiscal policy measures geared towards resuscitating the economy are being implemented. She said: “The fiscal policy measures have included mobilising non-oil revenue through broadening the tax base to increase the fiscal space; liberalising the fuel price regime to remove risks to public finances; and implementing policies to remove impediments to growth, such as measures to improve governance. The tight monetary policy stance adopted by the bank is aimed at attracting foreign investment in the country and containing inflationary pressure.

Invest in Human Capital to Boost Economic Growth, W’Bank Urges Govts The World Bank Group President, Jim Yong Kim has outlined three fundamental pillars that will drive momentum toward achieving the organisation’s goals of ending extreme poverty by 2030 and boosting shared prosperity. “We will achieve these goals in three ways: One: accelerating inclusive and sustainable economic growth; Two: investing in human capital; and Three, fostering resilience to global shocks and threats. Two goals, three ways to get there,” said Kim. Speaking at the Brookings Institution on the eve of the World Bank/IMF Annual Meetings, Kim pointed to a new World Bank report that lays out how income inequality between all people in the world has decreased, and inequality within nations has been falling in many countries, both rich and poor. But inequality is

still far too high, both globally and within countries. This constrains growth and breeds instability. “This means that not only do we need to focus on growth, but we must also continue our work to reduce inequality – we have to make growth more equitable,” Kim stated. Kim called for a major ramp up in infrastructure finance to boost economic growth, with far greater public-private cooperation on infrastructure investment. At the same time, with increasing reliance on private sector investments, the World Bank Group will have to increase its vigilance to ensure that privatization does not equal exclusion of the poor and marginalised. “Our top priority is to end extreme poverty and boost shared prosperity, and our engagement with the private sector must be anchored in these

two core values,” Kim noted. On the second pillar, investing in human capital, Kim stated that making investments in the earliest part of people’s lives will make a big difference in countries’ ability to compete. “Governments that do not invest early in a skilled, healthy, productive workforce are undermining their current and future economic growth,” Kim stated. “We need to help countries understand that investments in human capital are just as critical as investments in ‘hard infrastructure’ if they actually want to spur economic growth and compete effectively in the short, medium and long term.” Kim stated that these investments will not only lead to inclusive economic growth but will also establish the social foundations that can act as a bulwark against instability, violence and conflict.

SMEDAN, NICON Sign MoU on Insurance Cover for SMEs Ebere Nwoji The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), has signed a memorandum of understanding (MoU) with NICON Insurance Limited. SMEDAN and NICON, in the agreement, determined to reinforce the agenda of diversification of the economy through the empowerment of the informal sector. They said it represents their steps towards ensuring the success of Micro, Small and Medium Enterprises (MSMEs) in the country. SMEDAN, in the agreement, promised to provide insurance services for its more than 37 million members across Nigeria in order to protect them from the vagaries of the economic

environment. The agency, which was established by the federal government, to promote the development of the MSME sector of the economy, signed the epochal document with NICON Insurance Ltd in Abuja . At the ceremony, the Director-General of SMEDAN, Dr. Dikko Umaru Radda, described the initiative as a sure means of ensuring the sustainability of MSMEs in Nigeria by providing adequate insurance cover for them from various types of risks. Radda called on both organisations to ensure they implement the MoU to the letter, adding that it will be reviewed periodically in order to make it remain on track. Managing Director, NICON Insurance Limited, Mr.

Bayode Samuel acknowledged SMEDAN’s capacity to manage the huge pool of members who make up a significant proportion of Nigeria’s Gross Domestic Product (GDP). According to him, this makes NICON Insurance the ideal partner to provide insurance services for this important segment of the economy. He pledged that NICON Insurance will provide generic insurance cover as well as tailor made products to meet the peculiar needs of MSMEs. Samuel noted that NICON Insurance with its network of 40 branches nationwide and experience as sole underwriter for all government assets for 35 years, will ensure that MSMEs receive cutting edge insurance services to enhance their growth and sustenance.

Alade

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

MARCH 2016 Broad Money (M2)

21,684,965.22

-- Narrow Money (M1)

9,125,933.16

---- Currency Outside Banks

1,379,187.93

---- Demand Deposits

7,746,745.22

-- Quasi Money

12,559,032.07

Net Foreign Assets (NFA)

7,105,663.47

Net Domestic Assets(NDA)

14,579,301.76

-- Net Domestic Credit (NDC)

24,318,143.03

---- Credit to Government (Net)

2,893,190.01

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

5,004,677.26

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

-2,111,487.25

---- Credit to Private Sector (CPS)

21,424,953.01

--Other Assets Net

-9,738,841.27

Reserve Money (Base Money)

5,370,199.87

--Currency in Circulation

1,684,725.89

--Banks Reserves

3,685,473.98 • Source - CBN

MANAGED FUNDS Initial Price (N) Stanbic Balanced Fund

Buying Price(N)

Selling Price

1,660.29

1,685.29

Stanbic IBTC NEF

1,000.00

11,002.32

11,326.67.11

Stanbic SIBond

120.47

Stanbic IBTC Ethical

1.10

1.13

Stanbic IBTC GIF

142.90

143.38

UBA Balanced Fund

1.2563

1.2493

UBA Bond Fund

1.3443

UBA Equity Fund

0.8205

0.8074

UBA Money Market Fund

1.1510

ARM Aggressive Growth Fund

N13.0544

N13.4480

ARM Discovery Fund

N288.2515

N296.9425

ARM Ethical Fund

N22.5268

N23.2060

ARM Money Market Fund

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

OPEC DAILY BASKET PRICE AS AT, MONDAY, 4 OCT 2016 The price of OPEC basket of fourteen crudes stood at $46.64 a barrel on Monday, compared with $44.63 the previous Friday, according to OPEC Secretariat calculations. The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Rabi Light (Gabon), Minas (Indonesia), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). SOURCE: OPEC headquarters, Vienna

T H I S D AY • WEDNESDAY, OCTOBER 5, 2016

Nigeria’s top 50 stocks based on market fundamentals

4-Oct-16

30-Sep-16

% Change

Capitalisation

EPS

P/E

P/S

Div. Yld

Price/ Book Value

01 Dangote Cement Plc

183.00

0.00%

3,118,412,855,115.00

9.56

19.03

5.73

4.40%

4.56

02 Nigerian Breweries Plc

145.85

150.00

-2.77%

1,156,459,364,514.80

4.50

32.70

3.89

2.45%

7.16

03 Guaranty Trust Bank Plc

24.99

24.00

4.13%

735,485,168,807.76

4.20

5.93

2.04

7.11%

1.62

815.00

825.00

-1.21%

646,014,845,380.00

19.41

42.00

3.90

3.56%

18.37

05 Zenith Bank Plc

15.57

15.21

2.37%

488,843,408,248.02

3.10

5.09

1.18

11.41%

0.80

06 Lafarge Africa Plc

54.80

0.00%

249,608,619,188.00

-6.71

-8.18

1.12

5.47%

1.79

165.90

0.00%

216,081,614,987.70

4.22

37.91

1.41

2.16%

4.86

11.50

0.00%

211,019,838,972.50

0.23

50.05

0.39

5.39%

0.35

346.50

0.00%

191,722,023,454.50 -14.43

-22.87

1.95

4.82%

0.48

10 Unilever Nigeria Plc

47.00

0.00%

177,814,923,750.00

0.46

98.44

2.83

0.11%

19.33

11 Stanbic IBTC Holdings Plc

17.00

0.00%

170,000,000,000.00

2.04

8.48

1.46

0.58%

1.54

12 Presco Plc

40.00

0.00%

158,819,081,800.00

0.54

74.57

2.28

3.25%

3.88

13 Access Bank Plc

5.45

5.55

-1.80%

157,657,445,388.95

2.56

2.13

0.46

10.07%

0.37

14 Guinness Nig Plc

97.99

0.00%

147,561,983,542.12

-1.34

-72.46

1.43

3.30%

3.51

15 United Bank for Africa Plc

4.01

4.20

-4.52%

145,480,900,551.22

1.66

2.53

0.48

14.29%

0.37

16 FBN Holdings Plc

3.11

3.16

-1.58%

111,634,360,583.12

0.30

10.43

0.23

4.72%

0.19

17 Total Nigeria Plc

295.00

0.00%

100,158,941,915.00

31.13

9.35

0.41

4.81%

4.68

18 7-Up Bottling Comp. Plc

139.00

0.00%

89,042,060,457.00

3.75

38.02

1.02

1.54%

3.54

6.35

6.50

-2.31%

76,200,000,000.00

1.05

6.19

0.65

7.69%

1.31

191.72

0.00%

69,133,323,630.64

17.69

10.66

0.82

3.82%

3.96

5.47

5.40

1.30%

65,829,365,350.18

-3.46

-1.42

0.32

15.27%

0.43

22 International Breweries Plc

19.95

0.00%

65,720,273,136.00

0.17

114.65

2.64

1.25%

5.34

23 Flour Mills Nig. Plc

21.10

21.92

-3.74%

55,371,404,645.70

6.81

3.23

0.15

9.09%

0.58

24 Julius Berger Nig. Plc

40.00

0.00%

52,800,000,000.00

0.24

161.09

0.50

3.85%

2.29

1.06

1.03

2.91%

41,044,257,270.50

-0.37

-2.90

0.92

0.00%

0.55

26 U A C N Plc

20.80

0.00%

39,953,979,249.60

2.44

8.81

0.57

4.65%

0.56

27 Okomu Oil Palm Plc

38.00

0.00%

36,248,580,000.00

4.60

8.27

2.95

0.26%

2.33

28 Cadbury Nigeria Plc

16.49

0.00%

30,971,551,639.60

0.83

19.97

1.12

7.88%

2.49

29 Sterling Bank Plc

1.04

1.03

0.97%

29,942,034,851.04

0.31

3.34

0.28

8.74%

0.35

30 Diamond Bank Plc

1.20

0.00%

27,792,466,761.60

0.11

11.06

0.13

0.00%

0.12

31 Wema Bank Plc

0.67

0.72

-6.94%

25,844,892,274.27

0.06

10.46

0.52

0.00%

0.54

32 Fidelity Bank Plc

0.88

0.00%

25,487,075,408.96

0.39

2.31

0.18

17.78%

0.14

33 Custodian And Allied Insurance Plc

4.00

0.00%

23,527,456,780.00

0.76

5.32

0.71

3.47%

0.85

34 Cap Plc

33.25

0.00%

23,275,000,000.00

2.36

14.10

3.35

3.46%

15.94

35 Glaxo Smithkline Consumer Nig. Plc

19.05

19.00

0.26%

22,781,447,096.40

-2.54

-8.07

0.84

1.46%

2.69

36 FCMB Group Plc

1.11

1.07

3.74%

21,981,008,966.91

0.61

1.75

0.13

9.35%

0.12

37 National Salt Co. Nig. Plc

8.06

8.05

0.12%

21,354,473,326.68

0.89

9.03

1.17

6.88%

3.07

38 Mansard Insurance Plc

2.00

0.00%

21,000,000,000.00

0.27

7.55

1.12

2.44%

1.02

39 PZ Cussons Nigeria Plc

20.70

0.00%

20,700,000,000.00

4.14

5.00

1.56

0.48%

0.62

40 Honeywell Flour Mill Plc

1.38

1.39

-0.72%

10,943,672,768.04

-0.40

-3.29

0.22

12.03%

0.64

41 Continental Reinsurance Plc

1.05

0.00%

10,891,381,527.60

0.33

3.04

0.50

12.00%

0.54

42 Skye Bank Plc

0.65

0.00%

9,022,195,916.50

-2.93

-0.22

0.06

46.15%

0.09

43 Unity Bank Plc

0.73

0.00%

8,533,216,697.66

0.54

1.35

0.13

0.00%

0.10

44 Cement Co. Of North.Nig. Plc

6.00

0.00%

7,540,066,596.00

0.44

13.54

0.68

1.67%

0.70

45 UACN Property Development Co. Limited

3.95

0.00%

6,789,062,480.25

-0.05

-71.73

1.91

18.72%

0.18

46 Wapic Insurance Plc

0.50

0.00%

6,691,369,126.00

0.11

4.72

0.90

5.88%

0.44

47 Resort Savings & Loans Plc

0.50

0.00%

5,664,866,202.00

4.68

0.11

0.02

0.00%

1.89

48 Nigerian Aviation Handling Company Plc

3.46

0.00%

5,619,796,875.00

0.15

22.05

0.69

5.88%

0.89

49 AIICO Insurance Plc

0.63

0.61

3.28%

4,366,028,822.40

0.26

2.42

0.14

7.94%

0.46

50 Fidson Healthcare Plc

1.66

0.00%

2,490,000,000.00

0.31

5.45

0.37

2.99%

0.39

04 Nestle Nigeria Plc

07 Forte Oil Plc. 08 Ecobank Transnational Incorporated 09 Seplat Petroleum Dev. Co. Ltd

19 Dangote Sugar Refinery Plc 20 Mobil Oil Nig Plc 21 Oando Plc

25 Transnational Corporation Of Nigeria Plc

TOTAL

9,147,327,684,055.22

TOTAL MARKET CAP

9,712,912,603,015.35

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

94.18%

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

Open 30-Sep-16

Close 4-Oct-16

Change %

28,335.40 9.73

28,277.93 9.71

-0.20% -0.21%

117.68 9.16

117.48 9.15

-0.17% -0.17%

Close 4-Oct-16

Change %

Table 3 Top 5 Gainers Stock

Open 30-Sep-16

Guaranty Trust Bank Plc FCMB Group Plc AIICO Insurance Plc Transnational Corporation Of Nigeria Plc Zenith Bank Plc

24.00 1.07 0.61 1.03

24.99 1.11 0.63 1.06

4.13% 3.74% 3.28% 2.91%

15.21

15.57

2.37%

Table 4 Top 5 Losers Stock

Open 30-Sep-16

Wema Bank Plc United Bank for Africa Plc Flour Mills Nig. Plc Nigerian Breweries Plc Dangote Sugar Refinery Plc

0.72 4.20 21.92 150.00 6.50

Close 4-Oct-16

Change %

0.67 4.01 21.10 145.85 6.35

-6.94% -4.52% -3.74% -2.77% -2.31%

Trading week opens bearish as ASI drops 0.20% Market pulse on the Nigerian Stock Exchange (NSE) today – Tuesday, October 4th, 2016 ended on a bearish note as the stock market closed red today. This was further highlighted by negative performances from the NSE Sub sectors: Consumer Goods and Oil & Gas (Save Banking and Insurance). Trading activities decreased in volume as 198.10 million shares worth of N1.32 billion in 2,806 deals exchanged hands today. This is a decrease from the 217.81 million shares worth of N2.39 billion in 2,804 deals which exchanged on Friday. Topping in volume terms was ETI Plc, FCMB Group Plc and Zenith Bank Plc, while ETI Plc and Nigeria Breweries Plc ended trading as the most active stocks in value terms. The All Share Index (NSEASI) closed negative with 0.20% (-57.47) decrease to close at 28,277.93 from 28,335.40 the previous trading day. Market Capitalization depreciated in tandem to N9.71 trillion from N9.73 trillion of prior trading day. Similarly, the Thisday BGL 50 Index followed suit with a decrease of 0.17% to close at 117.48 from 117.68 recorded at the end of the previous trading day, while its market capitalization stood at N9.15 trillion from N9.16 trillion of the previous trading day. A total number of 16 stocks gained on the bourse today while 22 stocks declined, 57 leaving stocks unchanged. Guaranty Trust Bank Plc emerged as the day’s toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 4.13% to close at N24.99 per share. It was followed by FCMB Group Plc with a gain of 3.74% to close at N1.11 per share. Others on the gainers list include: AIICO Insurance Plc, Transnational Corporation Of Nigeria Plc and Zenith Bank Plc; while on the decliners’ list, Wema Bank Plc led with a loss of 6.94% to close at N0.67 per share. It was followed by UBA Plc with a loss of 4.52% to close at N4.01 per share. Others on the decliners list include: Flour Mills Nig. Plc, Nigerian Breweries Plc and Dangote Sugar Refinery Plc.

REQUIRED DISCLOSURE This report has been prepared by BGL Plc. BGL Plc does and seeks to do business with companies covered in its research reports. As a result, the firm may have a conflict of interest that could affect the objectivity of this report. Investors should use this report as one of many other factors in making their investment decisions.

For more details go to www.thisdaylive.com

T H I S D AY • WEDNESDAY, OCTOBER 5, 2016

MARKET NEWS

GSK Nigeria Completes Divestment of Drinks Bottling Business

Goddy Egene and Nosa Alekhuogie

Glaxosmithkline Consumer Nigeria Plc has completed the divestment of its drinks bottling and distribution business to Suntory Beverage & Food Nigeria Limited (SBFN). The company said the completion of the divestment followed approvals from the shareholders and the Nigeria Securities & Exchange Commission (SEC).

Following this approval, GSK has transferred ownership of the drinks business in Nigeria to SBFN effective October 1, 2016. Consequently, GSK Consumer Healthcare Company (retained business) now consists of the consumer healthcare wellness, oral healthcare and nutrition categories and pharmaceutical business. Suntory Beverage of Japan had in 2013 bought British drinks brands Lucozade and

T H E MAIN BOARD

DEALS

MARKET PRICE

Ribena from GSK for 1.35 billion pounds ($2.1 billion at the time). Since then, the company has outsourced production and sales of the drinks in Nigeria to GSK Nigeria. The management of the company had said the divestment of its drinks bottling and distribution business would not affect its financial fortunes. GSK Regional Head for Asia, Middle East & Africa, Mr. Zubair Ahmed had told

N I G E R I A N QUANTITY TRADED

STO C K

VALUE TRADED ( N )

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

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

THISDAY that the divestment was strategic. “It is not a question of economic decision that the business was not making money. It did not fit into our global portfolio. Nigeria was the only exception in the beverage market. Our focus globally is that GSK globally compete in five categories, which is pains, respiratory, skin, oral healthcare, and digestive. These are the five

6 6 12

30.00 34.00

12,629 11,640 24,269

374,530.15 421,345.20 795,875.35

19 19 31

1.25

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

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

5 68 13 86 86

0.77 1.13 20.47

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

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

13 13

41.50

31,970 31,970

1,409,214.78 1,409,214.78

5 5 18

5.20

28,901 28,901 60,871

154,716.48 154,716.48 1,563,931.26

6 24 7 98 135

2.85 118.85 20.00 99.00

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

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

9 9

168.50

166,476 166,476

28,285,937.95 28,285,937.95

54 38 6 12 1 29 140

5.61 19.00 1.37 6.86 6.65 1.27

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

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

11 54 65

17.86 700.00

18,825 98,360 117,185

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

11 11

4.46

99,050 99,050

420,455.00 420,455.00

13 21 34 394

21.90 28.00

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

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

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

4.10 1.49 15.60 1.21 16.70 1.07 1.76 2.95 5.30 0.63 0.98

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

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

14 8 2 3 7 10 1 1 46

0.80 0.90 0.50 0.50 2.06 0.76 0.50 0.50

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

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

1 1

1.08

4,760 4,760

4,950.40 4,950.40

31 7 105 7 20 170 893

2.46 4.00 0.85 14.15 1.31

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

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

2.69

614,065

1,572,223.05

categories that we compete globally. Nigeria was a bit of an aberration. What we have done has brought the portfolio synergized. We will not be getting into functional beverages. We stick to these categories for now,” he said. According to Ahmed, the divestment was part of the company’s overall strategic plan that have been in place for quite some time now. “As you look at what we call

the construct of what we called the GSK Company. What has changed is that we have a joint venture with Novatis, and the entire positioning of the new company is one of the world’s biggest over-the-counter (OTC ) and healthcare companies. So in keeping with that focus globally, for Nigeria, for strategic reason to bring that focus on the global portfolio, we took that decision of divestiture, ” he said.

E XC H A N G E

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

DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

32 4 6 69 69

25.33 0.94 0.69

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

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

1 1 1

1.69

500 500 500

805.00 805.00 805.00

16 9 4 6 10 31 76

24.00 9.30 35.78 8.62 3.36 80.50

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

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

6 6

1.51

134,500 134,500

204,240.00 204,240.00

5 5 87

50.00

24,529 24,529 15,152,108

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

2 2

0.50

24,262 24,262

12,131.00 12,131.00

90 90

3.47

3,827,573 3,827,573

13,288,632.05 13,288,632.05

21 7 8 21 7 64

18.34 1.84 342.00 150.00 145.00

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

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

33 33 189

318.00

389,934 389,934 4,473,488

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

1 1

0.50

941 941

470.50 470.50

5 5

3.80

32,870 32,870

127,756.40 127,756.40

13 13

0.89

624,500 624,500

538,430.00 538,430.00

1 22 23

2.29 4.00

4,588 251,094 255,682

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

1 1 43 1,811

1.68

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

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

2 2 2 2

1.21

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

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

306 306

11.45

13,929,679 13,929,679

159,605,439.23 159,605,439.23

278 278 584

3.74

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

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

35 35 35 619 2,432

139.83

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

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

2 2 2 2 2 10 10 10

2,330.00 2.33 6.02 11.09 18.07

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

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

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

T H I S D AY • WEDNESDAY, OCTOBER 5, 2016

MARKET NEWS

Stakeholders Want SEC to Move against Ponzi Scheme Operators Goddy Egene Some stakeholders in the Nigerian capital market have called on the Securities and Exchange Commission to collaborate with law enforcement agencies and other relevant bodies to stop the activities of online fraudsters who float unregistered funds to defraud investors. There is currently one investment fund tagged ‘MMM Federal Republic of Nigeria,’ that is asking investors to

invest, promising them a monthly return of 30 per cent. Although SEC had warned the investing public to stay away from against the MMM but the operators of the fund are still calling on unsuspecting investors for patronage. However, an investor, Mr. Moses Igbrude of Independent Shareholders Association of Nigeria (ISAN) told THISDAY that SEC should work with law enforcement agencies and the Nigerian Communication Commission (NCC) and track

A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return. An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

those behind the fund and bring them to book before gullible investor fall victim. “It is a good thing SEC has alerted members of the investing public to stay away from the illegal fund managers but some gullible investors can still be attracted by the unrealistic return they are being promised. At the end of the day, the regulators will still get the blame. I therefore think SEC should work with other organisations, track down those behind the MMM and bring

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 30-Sep-2016, unless otherwise stated.

them to book,” Igbrude said. A lawyer and stockbroker, Mr. Ayo Oguntayo said he was surprised that some investors are still patronising Ponzi schemes given the bad experiences and losses suffered in the past by many investors. “My candid advice is that investors should be very careful of the fund they patronise. We have genuine funds registered by SEC and listed in the market. There are funds that are focused on equities, there are those that invest in bond and there those

that target real estate. These are safer than some fraudsters capitalizing on the ignorance and greed of some investors to create apathy in the market. We also have the Fund Managers Association of Nigeria, which is the body for all fund and asset managers in the country. From there investors can know the genuine funds in the market,” Oguntayo said. SEC had last month warned investors to stay away from online fraudsters, who it said carry out their illegitimate

business via Nigeria.mmm. net portal and are promising investors a monthly investment return of 30 per cent. The regulator noted that the venture has no tangible business model as returns would be paid from other people’s invested funds making it a Ponzi scheme. SEC explained that it is a fraudulent investing scam promising high rates of return with little risk to investors that generates returns for older investors by acquiring new investors.

Offer price: The price at which units of a trust or ETF are bought by investors. Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return. NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD Web: www.afrinvest.com; Tel: +234 1 270 1680 Fund Name Bid Price Afrinvest Equity Fund 124.99 Nigeria International Debt Fund 215.92 ALTERNATIVE CAPITAL PARTNERS LTD Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price ACAP Canary Growth Fund 0.68 AIICO CAPITAL LTD Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price AIICO Money Market Fund ARM INVESTMENT MANAGERS LTD Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name ARM Aggressive Growth Fund ARM Discovery Fund ARM Ethical Fund ARM Money Market Fund AXA MANSARD INVESTMENTS LIMITED Web: www.axamansard.com; Tel: +2341-4488482 Fund Name AXA Mansard Equity Market Fund AXA Mansard Money Market Fund CHAPELHILL DENHAM MANAGEMENT LTD Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Nigeria Global Investment Fund Paramount Equity Fund Women's Investment Fund FBN CAPITAL ASSET MANAGEMENT LTD Web: www.fbnquest.com; Tel: +234-81 0082 0082 Fund Name FBN Fixed Income Fund FBN Heritage Fund FBN Money Market Fund FBN Nigeria Eurobond (USD) Fund - Institutional FBN Nigeria Eurobond (USD) Fund - Retail FBN Nigeria Smart Beta Equity Fund FIRST CITY ASSET MANAGEMENT LTD Web: www.fcamltd.com; Tel: +234 1 462 2596 Fund Name Legacy Equity Fund Legacy Short Maturity (NGN) Fund FSDH ASSET MANAGEMENT LTD Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Coral Growth Fund

100.00

aaml@afrinvest.com Offer Price Yield / T-Rtn 125.54 11.83% 216.66 7.85% info@acapng.com Offer Price Yield / T-Rtn 0.69 10.15% ammf@aiicocapital.com Offer Price

Yield / T-Rtn

100.00

15.11%

enquiries@arminvestmentcenter.com Bid Price 12.95 295.51 22.96

Offer Price 13.35 304.41 23.66

Yield / T-Rtn 6.31% 5.73% 4.16%

1.00

11.46%

investmentcare@axamansard.com Bid Price 100.67

Offer Price 101.30

Yield / T-Rtn 0.99%

1.00 1.00 11.29% investmentmanagement@chapelhilldenham.com Bid Price 2.10 9.49

Offer Price 2.16 9.73

Yield / T-Rtn 3.40% -3.71%

82.46

84.57

1.66%

invest@fbnquest.com Bid Price 1,102.82 114.90 100.00 $104.81 $104.87 112.93

Offer Price 1,103.90 115.42 100.00 $105.55 $105.61

Yield / T-Rtn 1.91% 5.66% 10.16% 5.18% 5.24%

114.47

13.70%

fcamhelpdesk@fcmb.com Bid Price 0.94 2.49

Offer Price Yield / T-Rtn 0.95 3.85% 2.49 7.27% coralfunds@fsdhgroup.com

Bid Price 2,242.84

Offer Price 2,271.19

Coral Income Fund 2,029.18 INVESTMENT ONE FUNDS MANAGEMENT LTD Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price

Yield / T-Rtn 3.14%

2,029.18 7.28% enquiries@investment-one.com Offer Price

Yield / T-Rtn

Vantage Guaranteed Income Fund

1.00

11.10%

Vantage Balanced Fund

1.64

1.66

0.59%

LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 0.99 1.01 11.44% Lotus Halal Fixed Income Fund 980.90 980.90 -1.91% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 10.04 10.13 2.63% Meristem Money Market Fund 10.00 10.00 12.97% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.02 1.04 -2.88% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 107.02 107.90 5.12% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.21 1.21 7.44% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 1,819.35 1,830.36 8.35% Stanbic IBTC Bond Fund 150.13 150.13 2.07% Stanbic IBTC Ethical Fund 0.81 0.82 8.67% Stanbic IBTC Guaranteed Investment Fund 178.99 178.99 5.48% Stanbic IBTC Iman Fund 137.83 139.52 1.85% Stanbic IBTC Money Market Fund 100.00 100.00 14.18% Stanbic IBTC Nigerian Equity Fund 7,877.25 7,982.42 9.60% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.17 1.17 8.79% United Capital Bond Fund 1.26 1.25 16.11% United Capital Equity Fund 0.77 0.77 0.74% United Capital Money Market Fund 1.00 1.00 13.00% ZENITH ASSETS MANAGEMENT LTD info@zenith-funds.com Web: www.zenith-funds.com; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 10.01 10.19 4.78% Zenith Ethical Fund 11.59 11.70 1.07% Zenith Income Fund 16.43 16.43 2.45%

REITS

NAV Per Share

Yield / T-Rtn

11.43 122.18

2.69% 5.46%

Bid Price

Offer Price

Yield / T-Rtn

9.16 80.71

9.26 82.24

-4.36% -3.02%

Fund Name FSDH UPDC Real Estate Investment Fund SFS Skye Shelter Fund

EXCHANGE TRADED FUNDS

Fund Name Lotus Halal Equity Exchange Traded Fund Stanbic IBTC ETF 30 Fund

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697

Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Griffin 30 Exchange Traded Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

2.76 7.42 12.90 18.19 -

2.80 7.50 13.04 18.39 -

19.31% 16.02% 2.94% -5.28% -

The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

WEDNESDAY, OCTOBER 5, 2016 • T H I S D AY

NEWSXTRA

Lai Mohammed: Partnership with Tony Elumelu Foundation Much Needed Catalyst for Creative Industry Private sector has a key role to play in the devt of Africa, Nigeria, says Elumelu

Nume Ekeghe The Minister of Information, Culture and Tourism, Alhaji Lai Mohammed, yesterday said the federal government partnership with the Tony Elumelu Foundation was the catalyst needed to transform the creative industry into a profitable one and Nigeria’s greatest assets and revenue generating sector. Mohammed stated this at the Memorandum of Understanding (MOU) signing between Tony Elumelu Foundation and the Ministry of Information in Lagos. On his part, the Founder of Tony Elumelu Foundation Mr. Tony Elumelu, urged the private sector to play a key role in the development of the economy through partnership with the government in various sectors. However, Mohammed said: “This is the combination of months of hard work from both sides. From the moment the idea of this MOU was conceived, he threw his entire weight and of course that of his foundation

to make it a reality. “From the time I assumed as minister, I have not missed any opportunity to tell anyone who cared to listen of my intention to develop our country’s creative industry and enhance its contribution to the national economy. “In this regard, I have always said the creative industry must be transformed to a creative economy for it to contribute more to the nation’s Gross Domestic Product (GDP), for it to provide jobs for our youths and also become a source of foreign exchange earnings. “It is in the realisation of the potential of this sector that I have gone on record calling the creative industry as well as tourism the new oil for Nigeria. “The creative industry has turned around the fortunes of California, Mumbai, Turkey, Dubai Australia among others, and we can replicate the same here with the support of partners like the Tony Elumelu Foundation.”

He praised the film (Nollywood) and music industry for its constant growth, promising that the federal government would do its best to protect practitioners from piracy. According to him, “To reach the full potential of the creative industry, we realised early that we would need to reach out to organisations that have the capacity to assist us in achieving the goal of developing the creative industry. This explains why we entered into discussions with the foundation.” Speaking on other beneficial collaborations involving the sector, he said: “On August 24 in Edinburgh Scotland,

we signed an MOU with the British council, and today, we are signing another MOU with the Tony Elumelu Foundation. “I am excited at the prospect of working with this foundation. The MOU is on the details on how they would work to gather, execute and more specifically the areas of collaboration would include the creation of an enabling business environment for the creative industry with incentives and easy access to funds would get investors into this industry.” On his part, Elumelu said: “We are gathered here to seal a partnership between President Muhammadu Buhari’s government and the private

sector to develop the Nigeria creative industry. “The minister has identified a sector in the economy that with a little attention, policy incentives and investment, can grow immensely and have a multiplying effect on other sectors of the economy.” He said the sector which has not been encouraged much from the rebased GDP, would contribute 1.3 per cent which is about $6 billion in the future and would contribute more with policy incentives. Elumelu further added: “I do not believe that the business of the public should be left alone to the public sector and I strongly believe that the private sector has a key

role to play in the development of Africa and Nigeria through long term investment in strategic sectors. “This sector has been operating very quietly in the country often in a policy vacuum and largely financed by friends and family and yet we have witnessed incredible development of Nollywood which has grown to become a mass employer of labour with little support from the public and private sector.” “This venture has been influenced by our commitment in 2014 in empowering the next generation of African entrepreneurs with $100 million over a period of 10 years which is $10milion every year.”

Glo Rolls out 4G LTE Network in Nigeria Emma Okonji Globacom yesterday in Lagos, launched its nationwide mobile fourth generation (4G) Long Term Evolution (LTE) network. The development is consequent upon its successful multi-dimensional test-run of the advanced network. Telecom subscribers in key cities in Lagos, Port Harcourt in Rivers State, Abuja in the Federal Capital City, Jos in Plateau State, Warri in Delta State, Eket in Akwa Ibom State, Benin City in Edo State, Yola in Adamawa State and Zaria in Kaduna State are privileged to enjoy instant connection to Glo 4G LTE network, while roll-out to other major cities of the country will be effected in quick succession in the coming days, according to Globacom. The Globacom 4G LTE network offers instant efficient broadband internet to millions of Nigerians at speeds multiple times faster than the 3G network, thereby enabling customers to download ultra high definition videos within seconds. Speaking at the launch in Lagos, Head, Corporate Sales, Globacom, Kamaldeen Shonibare, said: “This is a major milestone which will enable the data grandmaster, Globacom, to give its subscribers data intensive applications. He said the development would cancel bring great excitement to subscribers who consume huge volumes of data, as well as government and corporate organisations like banks, oil and gas companies, academic institutions and health institutions, which depend extensively on seamless data transfer for their operations. According to Shonibare, “We are pleased to once again play a leading role in empowering Nigerians with world class data services, which will help to close

the digital divide. In the last one and a half years, the people of this great country have spoken repeatedly by making Globacom the largest data network in new subscriptions. The best we can do for our people who believe in us and made us their number one data network is to give them the best technology. What we are offering is the new speed of life” The launch of 4G/LTE services by Globacom promises a basket of hard-to-beat 4G data bundle offers to all categories of subscribers for access to the revolutionary products and services. Benefits accruing to subscribers on the strength of the innovation include free access to thousands of music, videos and movies on demand. For instance, for only N500, subscribers will get a whopping 1.6GB of data, while N1000 will give them 3.2GB data. Other exciting offers include 7.5GB for N2000, 10GB for N2,500, 18GB for N4000 and 24GB for N5000. The very cost effective data plans range from N50 to N18,000. Globacom also disclosed that it would be offering a brand new 4G LTE router which provides access to ultra high speed internet and landline, with free SIM, 60Gb of shareable data valid for a month. It will also give access to free world-class contents for a set up cost of N31,000. Subscribers who prefer MiFi, can enjoy the brand’s bundling of its 4G MiFi with free SIM, 60Gb of shareable data valid for one month and free world-class content at a set up fee of N25,000. Shonibare disclosed further that the Glo 4G LTE services would make life more exciting, comfortable and enjoyable for Nigerians as the advanced technology would touch all aspects of life from education to agriculture and medical care.

FORTIFYING THE BAR

L-R: President, Nigerian Bar Association ( NBA), Abubakar Mahmud (SAN); Rivers State Governor, Nyesom Ezenwo Wike, and his wife, Justice Eberechi Suzzette Nyesom-Wike, during the inauguration of the Port Harcourt NBA Law Centre...yesterday

Ondo APC: Oyegun Ignored NWC’s Option for Political Solution, Says Akinyelure National organising secretary unilaterally altered delegate list Gboyega Akinsanmi The National Vice Chairman of All Progressives Congress (APC), Chief Pius Akinyelure yesterday disclosed that the National Chairman, Chief John Odigie-Oyegun ignored the decision of National Working Committee (NWC) that political solution should be worked out to resolve the outcome of party’s primary in Ondo State. Akinyelure, a NWC member, also disclosed that National Organising Secretary, Sen. Osita Izunaso unilaterally altered the delegate list used to conduct the September 3 governorship primary contrary to the letter and spirit of the APC constitution and Electoral Act. He raised the allegation in a six-page statement he personally signed, providing rare insights into internal politics that culminated in the submission

of Mr. Rotimi Akeredolu as the APC candidate in Ondo State. In his statement, Akinyelure alleged that Oyegun worked with the APC National Secretary, Mallam Ibrahim Bala Gubi, National Organising Secretary, Sen. Osita Izunaso and National Legal Adviser, Dr. Muiz Banire among others to scuttle NWC’s resolve for political solution. He, specifically, queried the power of the organising secretary to unilaterally adjustments on the delegate list, noting that he “made the adjustments without recourse or reference to the NWC. The NWC did not appraise of his actions before the primary. “The organising secretary then issued the altered list to the Primary Election Committee for use in the conduct of the election. This altered list became available to some of the aspirants in the early hours of the Election Day when the

election process was about to commence.” The national vice chairman explicitly detailed how the NWC received both the Election Committee and the Election Appeal Committee’s reports which were tabled at the NWC meeting of September 19. He, also, detailed how the NWC considered the reports both at its plenary and executive sessions where the secretariat was excused, pointing out that all almost all the members in attendance made contributions except Oyegun and Izunaso. At the NWC meeting held on September 19, Akinyelure disclosed that the members expressed dismay over the alteration of the delegate list and were of the view that members “should be provided with copies of the two delegates list. “We wanted to see the two lists so that we could authenticate the proper list for

use in the conduct of a re-run primary election that will be legally acceptable to all. It was also generally observed that the opinion given by the National Legal Adviser in his Memo was wrong.” He explained how the NWC reconvened on September 20 to consider the delegate list, noting that three delegates lists – the first list given to all aspirants; the altered list by the National Organizing Secretary and a harmonized list by Ondo APC Chairman – were circulated at the meeting. He explained that the three lists were circulated “to members for their scrutiny in order to determine which list would be used as the authentic list consonant with the earlier decision that the delegates list compiled for the party congress of 2014 be used for the re-run Ondo governorship primary.

WEDNESDAY, OCTOBER 5, 2016 • T H I S D AY

NEWSEXTRA

Nigeria Secures ICAO Council Seat Chinedu Eze

Nigeria has secured the International Civil Aviation Organisation (ICAO) Council seat for the first time in history of the international body. THISDAY learnt that152 ICAO member states voted for Nigeria to secure Council seat in the Part II category at the on-going 39th Assembly of the world aviation

regulatory body. This means that Nigeria will be a member of the Council for the next three years before another election. Expressing his happiness on the election, the Minister of State, Aviation, Senator Hadi Sirika said, “I feel great, I feel that Nigeria has taken its rightful place. We are being elected into Part II yet again. Nigeria has

Nigerian Actress, Rahama Sadau Apologises for ‘Offensive Hug’ A leading Nigerian actress, Rahama Sadau, who was banned from the Hausa-language film industry because of her “immoral” behaviour, has apologised. Sadau’s appearance in a music video “hugging and cuddling” Nigerian pop star Classiq, was said to have offended some people. According to BBC report, she has apologised to those she seemingly upset, as she said her actions were “innocuous.” Hausa films are popular in the mostly Muslim-dominated northern Nigeria where it is taboo for men and women to hold hands in public. The industry, commonly known as Kannywood, has been under fire from conservative Muslim clerics who accuse it of corrupting people’s values. The Motion Pictures Practitioners Association of Nigeria (MPPAN) has banned the actress from Kannywood films, saying her appearance in the video violated the industry’s code of ethics. It added that it hoped the ban would serve as a deterrent to other actors and actresses who are “expected to be good ambassadors of the society they represent.” As the film opens, parents are seen discussing who their successful city-dwelling son should marry. They decide on a cousin who they deem meets all their expectations of a good wife. But there’s a hitch, their urban and urbane son is in love with an educated city lady. He wants to marry her. The family confronts their son with their choice of wife for him. The dispute generates tension

and finally the parents force their son to marry the cousin. He goes through with the wedding but stays in touch with his preferred partner. They go on romantic outings during which he mentions his loveless marriage. Throughout the film, dancing and singing punctuate the action. Despite the passionate plot, there will not be any physical contact. That means no hugging and definitely no kissing. If there is to be any suggestion of sex, the screen will go dark. However, Sadau has said she took full responsibility for what happened, but argued that she was behaving professionally,adding thatin her line of work, “innocuous touching with other people... is inevitable.” But she reassured people that she wouldbehavewithdecorum,adding that: “I have lines that I would never cross.” Responding to the criticism she has received, she said people should “be more tolerant and forgiving towards one another and to cease all the senseless abuse, name calling and backbiting.” The Kannywood star appeared in the video with Classiq, in a song entitled: ‘I Love You’. In it, the Nigerian pop star is smitten with a vegetable seller in a market, acted by Sadau. Initially, she rejects his advances, batting him away with a bunch of vegetables, but he eventually wins her over. They hold hands and engage in a bit of cuddling that would be considered modest in a Western film. But many people in northern Nigeria felt she had gone too far with Classiq in the musical video, BBC reported.

INEC Begins Appraisal of Edo Guber Poll

Adibe Emenyonu in Benin City

The Independent National Electoral Commision has commenced evaluation and appraisal of personnel and materials deployed in the just concluded governorship election in Edo state. According to an official of the Commission who pleaded anonymity, the retrieval of election materials from staff of INEC headquarters in Benin started after election results were announced, adding the Commission has slated a Management meeting for Wednesday (today). The meeting, he disclosed was at the instance of the Resident Electoral Commissioner, Sam Olumekun

who is billed to arrive from the INEC headquarters on Tuesday (yesterday) evening. “We are yet to agree on the date for the presentation of certificate of return to the winner of the election, Godwin Obaseki. “A lot of things would be discussed at the meeting. But of course you know that nobody can call for a meeting without the approval of the REC who is expected to return from Abuja today (Tuesday). “That meeting is important to us because some decisions would be taken at that meeting. As you can see, we have started retrieval of material, evaluation and appraisal of our activities are very important after the election”, the source further said.

been in this council since 1962. We have been contributing our quota and aviation has taken the centre stage now in the world especially post 9/11. Security has come to centre stage without diminishing safety.” After the election, the Nigerian ICAO President, Dr. Bernard Aliu, paid a visit to the country’s office at the ICAO headquarters in Montreal to congratulate Sirika, the Permanent Secretary of the Ministry of Transportation and aviation chief executives present that attended the event. The Secretary-General of African Civil Aviation Commission (AFCAC), Ms. Iyabo Sosina, congratulated

Nigeria, urging the country to put effort in the development of aviation. According to ICAO, each member state is entitled to one vote on matters before the ICAO Assembly and decisions at these sessions are taken by a majority of the votes cast – except where otherwise provided for in the Convention. Appreciating African and other countries that voted Nigeria into the council for another three years, Sirika said, “I thank them very much and I thank the nations that voted Nigeria. Most importantly, I thank the Commander-In-Chief of the

Federal Republic of Nigeria, President Muhammadu Buhari, who in the first place allowed and approved that Nigeria stand for the election. He gave us all the necessary support and it has yielded good result.” Speaking further, Sirika said, “Nigeria has long ago endorsed the “No Country Left Behind” initiative of ICAO. Nigeria has been supporting aviation industry in the sub-region. We have Banjul Accord Group Aviation Safety Oversight (BAGASSO) domiciled in Nigeria and headquartered in Nigeria and being funded largely by Nigeria. Nigeria will continue to play the key role in leading aviation in West

and Central Africa.” According to ICAO, the Council is a permanent body of the organisation responsible to the Assembly, which is composed of 36 Member States elected by the Assembly for a three-year term. In the election, adequate representation is given to states of chief importance in air transport, states not otherwise included but which make the largest contribution to the provision of facilities for international civil air navigation and states not otherwise included which designation will ensure that all major geographic areas of the world are represented on the Council.

POWER CHANGES AT SON

L-R: Director, Legal Services and Corporate Affairs of Standards Organisation of Nigeria (SON), Mr. Umaru kawu; New Director General, SON, Mr. Anthony Osita Aboloma, receiving the hand-over note from Acting DG, SON, Dr. Paul Angya, while Director of Operations, SON, Mr. Felix Nyado, watches with interest in Abuja... yesterday

Govs, Ministers, World Food Prize Winners to Open 2016 Nutritious Food Fair in Calabar Crusoe Osagie

To stimulate partnerships for investment in the food and agricultural sectors, the second edition of the annual Nutritious Food Fair (NFF) would hold from November 9 to 11 at TINAPA and the Calabar International Convention Center (CICC), in Cross River State. Expected guests at the event include governor of Cross River State, Sen. Prof. Ben Ayade; his Anambra State counterpart, Chief Willie Obiano; Ministers of Agriculture and Health, Chief Audu Ogbeh and Prof. Isaac Adewole, respectively and World Food Prize Winners, Dr. Howarth Boius and Dr. Jan Low, among others. This was announced by Country Manager, HarvestPlus Nigeria, Paul Ilona, during a media parley held at the International Institute of Tropical Agriculture (IITA), Ibadan, at the weekend. Ilona said that the media parley was part of the organisation’s biannual partners review meeting, which is intended to assess the progress and strategies employed in the delivery of biofortification in Nigeria in 2016 and to draw a roadmap for 2017 for HarvestPlus Nigeria

and its delivery partners in four target states, including Oyo, Benue, Imo and Akwa-Ibom. On the nutritious food fair, he said the event would hold in Calabar and that there was no commercial intention in organizing the fair as, being an NGO, HarvestPlus, aims to bring together heavyweights in the industrial sector, food processors and farmers, so as to create necessary linkages and forge partnerships in the nutritious foods value chain. “This year’s event would hold in Calabar. It is titled Multisectoral Partnership To Promote More Nutritious Crops and Foods. We, as always, do not have a commercial intention. We want to create linkages to promote partnerships in the nutritious food sector. We are providng a platform for conversation on and around nutrition, not in terms of quantity, but quality. We are using the fair as medium to get big industries to explore home-grown sources of nutritious staples as raw materials for their products,” he said. HarvestPlus partner at the Akwa-Ibom State University (AKSU), Dr. Edna Akpan, said that the event would help to showcase the job that

HarvestPlus has embarked on for about five years and also avail farmers with opportunity to interface with off takers of their produce, adding, “The fair follows from the successes of the last edition. This year promises to be bigger. We would be in Cross River to host farmers and show them that there is immense value in what they do.”

The first edition of the Nutritious Food Fair held in Abuja last year and attracted important government dignitaries including representation from the office of the Vice President, as well as key stakeholders in the agricultural, research, health, education, research, development and food sectors.

FG, Stakeholders Declare Nationwide Pink Day on Cancer Paul Obi in Abuja The federal government and a coalition of Civil Society Organizations (CSOs) and stakeholders in the health sector have declared today a Pink Day to drum support for public awareness on the danger of cancer and other related diseases. While pledging government support, Minister of Health, Prof. Isaac Adewole who is at the forefront of reviving Nigeria’s effort on taming the spread of cancer said the time to address existing gaps in the fight against cancer is now. Adewole assured that government remains

committed to driving the agenda that will ensure that early detection and prevention of cancer remains effective. Leader of the Nationwide Go Pink Day campaign and Professor of Radiology, College of Medicine, University of Nigeria, Nsukka (UNN) while speaking on the importance of the Pink Day said: Nigeria is said to have the worst death rate from cancer in the world. WHO says every 6minutes a Nigerian dies of preventable death from late detection of cancer. And 4 out of every 5 Nigeran with Cancer dies due to late presentaton to hosptal.

WEDNESDAY, OCTOBER 5, 2016 • T H I S D AY

CRIME&PUNISHMENT Magu: Expect More Arrests, Trials, Conviction of Corrupt Individuals

Youths key into anti-graft war Aisha Buhari to launch women against corruption November Senator Iroegbu in Abuja The Chairman, Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, has vowed that there will be more investigations, interrogation, trials and convictions of corrupt individuals or organisations in the country. Magu stated this yesterday at the unveiling of the EFCC Creative Youths Initiative against Corruption (CYIaC) in Abuja. He stated in a speech titled: “We Cannot Let Our Youths Down”, that despite the current efforts being made to strengthen the preventive role of the fight against corruption through the youth initiative, the Commission will continue to fulfil its enforcement duties. He said: “Let me clarify that the EFCC will continue to vigorously enforce its mandate alongside engaging in preventive initiatives such as this. Therefore, even as we appeal to the old and the young to shun corruption and other forms of fraud, expect to see more investigation, more arrests, more trials, more convictions and more recovery of stolen assets.

“We are the first to recognise that enforcement alone cannot win the war against corruption. Prevention is an effective and necessary weapon that must be employed in conjunction with enforcement and there is no group of Nigerians better equipped to wield that weapon than the youths.” Magu stressed that “the task to rid the nation of the corruption cankerworm cannot be left to the EFCC and other anti-corruption agencies alone.” “We are all stakeholders in the war and cannot let the future generations down; it is for their future that we must sacrifice our today. Let us work together for our dear nation; let us join hands to build for our children the future we desire,” he added. Speaking further, he said that the aim of the Initiative is to expand the anti-corruption mandate using as vehicle, the innate creativity of our young ones. “That is the essence of this Initiative, which is a forerunner of sorts to the EFCC Women Against Corruption initiative, that will be rolled out by the First Lady, Hajia Aisha

Buhari, in November. That project will bring on board the anti-corruption train, Nigerian women from all walks of life,” he said. The EFCC boss noted that the people most impacted by the mindless looting of our commonwealth, are women and children. According to him, these are the most vulnerable in our society and must not only be protected, but armed with the necessary tools to fight a sustainable and winnable war against corruption. “Our children must see that there is a future away from corruption and be encouraged to take that path of honour, moral rectitude and creative employment of their talents, which had been shunned by so many of our corrupt leaders,” he remarked. In the same vein, the Project Coordinator, CYIaC, Mrs. Foluke Michaels, said that the mission of the initiative is to prevent corruption from the root by exposing the ills of corruption to children and youths through comprehensive education and creative developments.

Michaels stated that “CYIaC is commited to lead change in children and youth by eradicating corruption through character (attitude) and skill (aptitude) development for the positive advancement of our great nation”. To this end, she disclosed that the Initiative will partner with primary and secondary schools within Nigeria to identify talented creative children and youth with a vision for a new Nigeria. “Our aim is to implant core values in them that will make them young responsible citizens. Our overall goal is to contribute to nation building through creative development with a focus on ‘War against Corruption’. “Their creativity will be showcased through various creative mediums; Painting, Drama, Writing, Reading, Singing, Information and Technology and Inventions,” she stated. The Coordinator also disclosed that the Project is designed to cover six geo-political zones in Nigeria within a period of four years.

In Brief

Benin Crown Prince Calls for Improvement of Welfare of Prison Inmates

For proper integrate into the society, the Crown Prince of Benin Kingdom, Prince Eheneden Erediauwa, yesterday, called for the improvement of the welfare of prison inmates. Prince Eheneden made the call in Benin City, Edo State, when he received the state Controller of Prisons, Mr. Amadin Osayande, in his palace in his Uselu. He said there had been concerns over the living condition of inmates in the state and across the country. He therefore urged the state Controller to contribute his quota towards improving the condition of the prison facilities in order to achieve the overall objective of reforming inmates after serving their respective prison terms. Congratulating the state chief prison officer on his assumption of office, as the head of the state command, he also wished him well in his official endeavours. “We wish you well. We wish you success in office. It will end well for you. May God of our ancestors protect all of you,” the crown prince said. Earlier, Osayande, who was accompanied by the management staff of the command in the state, explained that he was making his first official visit to the Edaiken palace. He said the state command would continue to encourage the inmates to acquire various skills which would enable them contribute to the development of the society and become self-reliant.

Court Fixes Oct. 20 for Trial of Amosu, Other Air Force Chiefs A Federal High Court in Lagos yesterday fixed October 20 and 21 for the trial of a former Chief of Air Staff, Air Marshall Adesola Amosu (rtd) and 10 others charged for alleged N22.8 billion fraud. Amosu was charged alongside two other officers from the Air Force – Air Vice Marshal Jacob Adigun and Air Commodore Gbadebo Olugbenga. They were charged alongside some companies namely: Delfina Oil and Gas Limited, Mcallan Oil and Gas Limited, Hebron Housing and Properties Company Limited, Trapezites BDC, and Fonds and Pricey Limited. The accused are being prosecuted by the Economic and Financial Crimes Commission (EFCC). They were arraigned on June 26 and had pleaded not guilty to the charges. The presiding judge, Justice Mohammed Idris, had then granted them bail in the sum of N500 million each with two sureties each in like sum. At the resumed proceedings yesterday, counsel to the EFCC, Mr Rotimi Oyedepo, told the court that he was ready to open his case against the accused, adding that two witnesses were present in court. Oyedepo said the EFCC had discharged its obligation by serving the proof of evidence on the accused. But responding, counsel to the accused, Mr Bolaji Ayorinde (SAN), told the court that the matter was only adjourned for mention and that the case could not be heard. He said the record of the court could bear him witness.

Niger Clash: Army Fails to Present Officers before Panel of Inquiry

NABBED BY THE LAW

One of the shop owners who erected illegal structures being arrested by the Lagos State Ministry of Environment and Sanitation Enforcement Team along St Gregory road, opposite Police Barracks, Obalende, Lagos…yesterday KOLA OLASUPO The Nigerian Army yesterday failed to present soldiers before a

Military Says It’s Mindful of Ongoing Negotiation in N’Delta, But Warns Militants FG urges militants to rethink the blowing up of pipelines Patrick Ugeh in Abuja The Defence Headquarters has re-emphasised that military will continue to abide with the ongoing negotiation effort of the federal government with militants in order to have peaceful settlement of the Niger Delta problem. However, while trying to achieve this feat, the military would not take kindly with any individual or group taking military’s good gesture of adherence to ceasefire and peaceful disposition to the impasse for granted, otherwise military will respond proportionately to any armed attacks against its location in a decisive but professional manner

in line with its constitutional mandate of defending innocent citizens as well as national critical infrastructure. The Acting Director, Defence Information, Brigadier General Rabe Abubakar, noted in a statement: “It is also instructive to state that the Armed Forces has the capacity to defend itself just as it did recently when a group of misguided elements under the militancy guise attacked its location at Efut Esighi waterfront in Bakassi Local Government Area of Cross River State where they paid dearly for their evil act. The Armed Forces therefore warns various belligerent groups in either the Niger Delta or any other part of the nation to desist from any act capable of

jeopardising peace and security of our country or they will regret the consequences of their evil action. The Armed Forces of Nigeria would continue to partner with peace-minded groups and stakeholders to bring lasting peace in any security threatened areas or locations In a related development, the federal government, yesterday also sent a strong warning to the militants in the Niger Delta, asking them to rethink their destruction of oil and gas pipelines as they and the people of the region stand to lose more ultimately when an alternative source of fuel, the jathropha plant, is fully developed. Speaking at a two-day

environmental dialogue in Abuja, the Minister of Environment, Mrs. Amina Mohammed, warned that besides the loss of revenue to the Niger Delta through the blowing up of pipelines, the environmental impact is such that it would affect the people of the area for a very long time. She said the Niger Delta people stood to bear the brunt of the drop in fiscal allocations from the federation account when bio-fuels from the jathropha plant and other sources knock crude oil out as the number one income earner for the government. The dialogue chaired by Dr. Newton Jibuno, had the theme, “Diversification of the Economy: The Role of Jathropha”.

Judicial Commission of Inquiry the Niger State Government set up to investigate an operation that led to the death of 24 persons. The operation was carried out in four communities in Bosso Local Government Area of Niger State on August 4, claiming 24 lives including military officers and property worth of million destroyed. The state government, thus, set up the commission under the chairmanship of Justice Mohammed Mohammed to find out the immediate and remote causes of the communal conflict, which scores of indigenes injured. The commission had asked the Nigerian Army to present 59 soldiers involved in the operation before it, noting that their testimonies were critical to the assignment it was set up to perform. At the resumed sitting yesterday, counsel to the Nigerian Army, Lt. Col. Michael Ede Elom, said it was impossible to present the soldiers before the commission, citing its implication for national security. The counsel explained why it was practically impossible to present the soldiers, noting that some of them “have been sent on official assignments within and outside Nigeria which has made their physical presence difficult.” Elom, however, said he was working with the General Officer Commanding, 31 Field Artillery Brigade Nigerian Army, Maj.-Gen. Olarenwaju Jimoh on the possibility of presenting the soldiers before the commission. In his response, the commission’s chairman, urged the Nigerian Army to ensure that the soldiers were brought to testify, emphasising that it “is important that we see and hear from.” Mohammed reminded the army and others appearing before the tribunal that it is a fact-finding panel as such, nobody should be afraid to testify before us.” The tribunal will continue its sitting.

T H I S D AY • WEDNESDAY, OCTOBER 5, 2016

WEDNESDAYSPORTS

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

2 0 1 8 W O R L D C U P Q UA L I F I E R

Super Eagles’ Full House Bubbles for Ndola Showdown Duro Ikhazuagbe Nigeria’s legion of foreign-based players have shown their seriousness for this weekend’s 2018 FIFA World Cup qualifier against Zambia in Ndola as all the 23 invited players have arrived Eagles’ camp at the Bolton White Hotel and Apartments in Abuja. Team Captain, John Mikel Obi, and the other English Premier League players like assistant captain, Ahmed Musa, Brown Ideye and Godwin Obaje flew into the federal capital city aboard British Airways flight from London early yesterday. They were all part of Gernot Rohr’s evening training programme ahead of the battle with the Chipolopolo. In camp yesterday were: Ogenyi Onazi, Carl Ikeme, Kingsley Madu, Musa Muhammed, Emmanuel Daniel, Ikechukwu Ezenwa, Elderson Echiejile, Nosa Igiebor, Abdullahi Shehu, William Paul Ekong and Alex Iwobi. Others include; Kenneth Omeruo, Anderson Esiti, Jamiu Alimi, Wilfred Ndidi, Chisom Egbuchunam, Uche Agbo, Kelechi Iheanacho and Moses Simon. Rangers’ Egbuchulam and Godwin Obaje were last minute call up as replacements for injured Chelsea player, Victor Moses and

Isaac Success of Watford. The NFF yesterday confirmed that the Super Eagles will train this morning before taking on Nigeria Professional Football League side, Plateau United FC of Jos in a friendly match at the main-bowl of the National Stadium, Abuja later this evening. Meanwhile, for the 20 remaining teams in the CAF qualifying campaign, the journey to the 2018 FIFA World Cup Russia begins in earnest this weekend as they play their first games in the group stage. With only the five group winners earning the right to represent the continent, the stakes are high from the beginning as every team knows that a loss in the first game sees them having to make up ground. The Group B pairings that have three veterans of the 2010 and 2014 finals, Algeria, Nigeria and Cameroun, will be the focus of football buffs in the continent. The unfortunate fourth team to join the trio is 2012 African champions Zambia. The Chipolopolo, who missed out on a place at the 2017 CAF Africa Cup of Nations finals, are at home to the Super Eagles who also failed to make the cut in their opener on Sunday in Ndola.

Flamingoes Hold England to 0-0 Draw in Jordan Nigeria’s Flamingoes yesterday drew 0-0 with England in their second match at the FIFA Under-17 World Cup in Jordan. It was Nigeria’s first point of the tournament. The Nigerian girls are to play their last group game on Saturday against North Korea. The Koreans were on display against group leaders Brazil as at press time last night. The Flamingoes shaded the ball possession 52 per cent to 48 per cent, but failed to create any clear-cut chance at goal.

Their best player was skipper Rasheedat Ajibade, but she also failed to get behind the England defence. Nigeria needs to win the last game to stand any chance of reaching the knockout stage of the competition. The Flamingoes have reached the quarterfinals in the last three editions. In another group game, Ghana came from behind to beat USA 2-1 and revived their championship hopes after they were battered 5-0 by Japan in their opening game.

Super Eagles players streaming into the National Stadium Abuja for training… yesterday evening

Egwim to Be Sidelined for Four Months after Successful Surgery El Kanemi goalkeeper, Yekini, sorry over injury Enugu Rangers striker, Ifeanyi Egwim, is expected to make a return to competitive football in four months barring any hitch. Rangers’ club’s doctor, Emeka Onyia, disclosed to supersport. com. yesterday that the former Dolphins man has undergone a first operation at the National Orthopaedic Hospital in Enugu following a tibia-fibular fracture he sustained during his team’s Nigeria Professional Football League (NPFL) final day game against El-Kanemi Warriors on Sunday. Onyia confirmed that the Rangers man is in stable

condition after having his broken leg operation upon at the hospital in Enugu and should make his way to playing in the sport in four months once he goes through rehabilitation. He further explained why the hospital decided to operate on Egwim in Nigeria despite Enugu State Governor, Ifeanyi Ugwuanyi, ordering that the player be flown abroad for treatment. “We just left the operating theatre not long ago and the operation on Ifeanyi went well and he is currently stable. The operation had to be carried out on

him considering that the fracture he sustained on his tibia-fibular was an open one, so we had to operate rather than fly him abroad if we take into cognisance of the process it might take to get visas and other documents. “Mind you, money in flying him abroad isn’t the issue here but we needed to put the career of Ifeanyi into consideration first before thinking of the option of flying him abroad considering the nature of his injured. However if there is need to fly him abroad that will be done. “The time-frame for his return should be four months,” the

NFF Commends LMC, Clubs, Other Stakeholders on Successful NPFL Season The Nigeria Football Federation has heaped plaudits on the League Management Company (organizers of the Nigeria Professional Football League), all the participating Clubs, the media as well as football fans for a highly –successful 2015/2016 Season that came to an end on Sunday. NFF President Amaju Pinnick, who personally presented the League trophy to Enugu Rangers FC captain Okey Odita at the Nnamdi Azikiwe Stadium (now nicknamed The Cathedral) as the Flying Antelopes won their first title in 32 years, lauded the efforts of the LMC and indeed all stakeholders in ensuring a fabulous season. “It is no gainsaying that it has been a fabulous season in the Nigeria Professional Football

League. Everyone has contributed immensely: the LMC, all the Clubs, fans, the media and other stakeholders of the League. We must also not forget the contribution of Supersport Television. “I look back and there are so many things to be happy about in the just –concluded season. I was there in Kano during the opening match of the season in which Kano Pillars defeated Enugu Rangers with a late goal. Football has returned to Maiduguri – which people thought would not be possible – and we have had a number of fascinating Friday Night matches. I can boldly say this League Season has gone well with huge improvements all round and we had the best team winning. “Afew matches were troubled by

security breaches and some referees did not cover themselves in glory. But at the end, it was a season to be proud of and we can only put in place reforms to make things better in the coming season.” On refereeing, Pinnick elected to elaborate on what the NFF will be doing to improve things. “We have been doing a lot to improve refereeing, including taking dozens of them to the United Kingdom for capacity enhancement, as well as hosting FIFA Member Association courses to ensure our referees get better. “Now, the NFF leadership has identified the shortcomings and will initiate positive reforms of the refereeing management process to ensure more effectiveness and improved professional delivery.”

The first reform, according to the NFF President, which is aimed at guaranteeing independence and strict compliance to the rules, would be to divide referee management into three professional and independent committees: Training, Grading and Appointment; Assessment and; Performance Review and Compliance, including sanctions for erring referees. “The last two committees (Assessment and Performance Review and Compliance) would be headed by independent and credible personalities to ensure fairness and prompt actions,” explained Pinnick. The NFF supremo gave kudos to LMC Chairman Shehu Dikko, who is also the NFF 2nd Vice

President, stating that the latter’s work ethic and vision alongside LMC CEO Nduka Irabor and the COO Salihu Abubakar have taken the NPFL to new heights. “It is not only in the work they do that they have excelled; they have also been there for the other Leagues: NNL, NWFL and the NLO. The solidarity payments they have made to these Leagues as well as the Players’ Union have helped to stabilize the football structure.” The 2015/2016 NPFL Season was brought to a glorious end on Sunday with one of the nation’s biggest traditional clubs, Enugu Rangers winning the League trophy for the first time in 32 years, after amassing 63 points from their 36 matches.

Rangers team doctor revealed. Meanwhile, Yekini Kazeem has described as regrettable the sour incident that almost marred the end chapter of the top-flight.

NCC TENNIS LEAGUE

Team FCT Beat Team Kalotari to Top White Group Team FCT, over the holiday weekend, won five of the seven points at stake to beat Team Kalotari in a White Group tie of the ongoing NCC Tennis League at the Port Harcourt Club. Former national champion, Thomas Out, gave the Abujabased Team FCT the positive start they needed to feel comfortable away from home when he beat Nonso Madueke 7-5, 6-2 in first men’s singles. Sunday Emmanuel followed with a 6-3, 6-3 victory over Daniel Odey to give the visitors a 2-0 lead. Rose Onoja further extended the lead when she beat Lolia Kienka 1-6, 6-0, 6-3 in the ladies’ singles before Team Kalotari’s doubles pair of Sunday Maku and Madueke rescued a point by beating the pair of Otu and Taiwo Owolabi 6-4, 6-4. Otu and Emmanuel won their reverse singles before Team Kalotari’s pair of Maku and Patience Onebamhoin took the mixed doubles - beating Sani Adamu and Osaremen Airhunwhunde 6-4, 6-4 - to make the score a little more respectable.

WEDNESDAY, october 5, 2016 • T H I S D AY

WEDNESDAYSPORTS

Amapakabo Won’t Leave Rangers, Says Chukwu Enugu Rangers Technical Director, Christian Chukwu, has said emphatically that the winning Head Coach, Imama Amapakabo is 100 per cent certain to keep his job at the Nigerian Professional Football League champions. The Super Eagles assistant coach who guided the Flying Antelopes to their seventh league title after a nervous 32year waiting ended his contract circle with the conclusion of the top-flight on Sunday. Chukwu admitted that every contract is time bound same with coach Amapakabo’s but insisted that management is doing the needful to offer the former Enyimba handler another contract. “Normally, contract has a beginning and end as well as room for renewal the contract of Coach Imama Amapakabo is not an exception. “The board, government and management are looking at it but be rest assured that Amapakabo is not going anywhere else. “The needful is being done to ensure he continues from where he stopped, he is part and parcel of the team,” said the former Nigerian manager and strongman to supersport.com. Chukwu said the Coal City side is certain to keep the league crown in the next three, four seasons. “Rangers are big team in Nigeria only that the league crown eluded us for a long time but now the side have been able to organise themselves to win the title coupled with the fact that the players who won the

title are young they are certain to keep the crown in the next three, four seasons. “Right now they have bigger achievement in view. The players have been given two, three weeks to rest while we take time off to review the team’s score sheet in the out-gone season with the aim to forge a better plan for the assignment both on home front and continent. “Of course, we will not want to disappoint at the continent, we are the first to play at the continent but Enyimba happened to be the first to win the title. “We want to replicate the first on the home soil at the continent,” said Chukwu. Enugu Rangers will campaign in Africa’s first tier club competition, CAF Champions League. Meanwhile, Fidelis Ilechukwu has resigned as head coach of Mountain of Fire Football Club after successfully guiding them to staying in the top flight football league after a nervy end to the season. A 1-0 victory over IfeanyiUbah FC helped the Olukoya Boys avoid demotion to the lower league – after a brilliant start in the 2015/2016 NPFL season. In the wake of this, Ilechukwu took the decision to step down after several years at the helm. “I submitted my resignation letter to the club management on Monday,” he said. “I cannot say for certain my step, I have some offers and I am considering but I have not made up my mind on that.”

Air Force Boosts Personnel Physical Fitness ChiemelieEzeobi The Nigerian Air Force (NAF), yesterday boosted the combat readiness of its personnel by engaging them in a 7km physical fitness route march. All units under NAF Logistics Command, led by the Air Officer Commanding, Air Vice Marshal Sani Ahmed, alongside other senior officers walked from Sam Ethan Base to the annex of National Airspace Management Agency (NAMA) and back to the base again. However, before the third quarter route march, the troops had first mustered by 4am where the medical team administered some tests, especially that of High Blood Pressure, before the exercise kicked off by 6am. Ahmed, while charging the troops to be battle ready always, said the essence of the exercise was to ensure that the personnel are fit for duty, especially when deployed to the North-east. In his speech afterwards he said, “I congratulate you for coming out in large number to participate in this exercise. The essence of the exercise is to foster all round physical fitness of the personnel through active participation in group exercises for team spirit. “We must not relent in our effort at ensuring that physical fitness occupies and enviable place in the service training programme. “This will enhance combat readiness, especially at this time when the Armed Forces of Nigeria are confronted with security

challenges in the North East. “The best way in which we can serve the cause of peace and defend the territorial integrity of this nation is by making ourselves physically and psychologically fit so that no power may dare harbour any aggressive designs against us. “For sound minds, we should have sound bodies and that is why the military, world over attaches so much importance to the physical fitness exercises and fitness exercises and body building culture. “Let me seize this opportunity to express my gratitude to the Chief of Air Staff, Air Marshall Sadiq Abubakar for the unquantifiable achievements recorded towards the advancement of the Logistics Command within the past one year of his assumption of office.” On the route march he said, “The NAF places high premium on fitness and have the interest to see personnel represent the nation at national and international events. “I am particularly impressed with the gallantry performance of the command sports men and women during the combat games in Kaduna. “The command had released athletes in preparation for the inter command games scheduled to hold in Katsina next month. The exercise will no doubt aid your preparation for the games. “I enjoin you to take care of your health as it is cheaper to maintain a healthy body but participating in exercises than to regularly visit the hospital for treatment.”

L-R Director General, Lagos State Sports Commission, Adewunmi Ogunsanya, ChairmanCEO HS Media Group, Mr. Taye Ige and First Vice-president of the NFF, Seyi Akinwunmi, at the media unveiling of Asisat Oshoala as the Face o

HotSports, NFF Unveil Oshoala as Face of Women Fed Cup African Female Player of the Year (2014), Asisat Lamina Oshoala has been unveiled as the ‘Face of 2016 Women Federation Cup’ in a colourful ceremony held in Lagos. The event, which was copowered by HotSports – a subsidiary of HS Media Group and the Nigeria Football Federation (NFF), was well attended by high dignitaries from both the NFF and the Lagos State government. Chairman/CEO HS Media Group, Mr. Taye Ige, in kickstarting the event, said they were gingered into action to save the

Women Federation Cup from its dwindled perception, which as a result, has made it unattractive to corporate organisations in Nigeria. He said HS Media Group’s effort was meant to compliment the resolve of the Organising Committee of the Federation Cup, headed by 1st Vice-president of NFF, Seyi Akinwunmi, to reposition and bring back the glory days of the tournament. “Our choice of Asisat Oshoala, Super Falcons ace and Arsenal Ladies forward who herself is a product of this competition, as the ‘Face of 2016 Women

Federation Cup,’ is hinged on our firm belief that, as the most outstanding female footballer in the Continent of Africa today, she represents a role model for millions of our young girls (and boys) aspiring to make names for themselves in football. “This giant step will, no doubt, open a floodgate of leveraging opportunities for stakeholders at various levels such that the tournament will become the brand and bride of choice for corporate bodies in the future,” he said. In response, Akinwunmi said Lagos State remains the home

of Nigerian Federation Cup and they intend to leverage on the rising profile of Oshoala to inspire the younger players all over the federation. He said it may be too late to achieve much in that regard this year, but from next year, there will be a tremendous transformation in the tournament and that would be a promise. Present at the event also were SA, Sports/Chairman, Lagos State Sports Council, Deji Tinubu; DG, Lagos State Sports Council, Adewunmi Ogunsanya and Vice Chairman LSFA/NRA President, Tade Azeez.

Irukka Academy Partners PSG for Football Devt Femi Solaja It was a ground-breaking moment last weekend as one of the football academies in the country, Irukka and Paris Saint Germaine (PSG) entered into a partnership that will ensure young talented Nigerian footballers reach great heights within the shortest possible time. At an elaborate ceremony held at the Golden Tulip Essential Hotel in Lagos with all major stake holders in Nigerian football in attendance, the 1st Vice President of Nigeria Football Federation (NFF) Seyi Akinwunmi said he was delighted with the project by Irukka with such a global football club like PSG as the platform will enable young Nigerian players to emulate the likes of Austin Okocha and Victor Ikpeba who were leading lights of Nigerians in their active football days in Lique 1. The main objective of the partnership, according to CEO of Goal - To - Post Sports Agency Limited, Mr. Tella Abiodun, “is to create platform for young talented soccer players in Nigeria to develop with the help of PSG of France by sending their coaches to Nigeria to train both coaches and selected young players. “The Paris club has promised to take 15 young players not more than 18 years old yearly for a week-long training tour of its facilities and if by chance, the top coaches at the club discover any

L-R: Project Manager, Paris Saint Germaine, Yacine Alaoui, Chairman of Irukka Academy, Mr. Ifeanyi Onwubiko, General Manager PSG Academy, Mr. Fabien Daliem and the CEO of Goal-To-Post Agency, Mr. Biodun Tella, at the unveiling of the partnership last weekend in Lagos of the young lads good enough, he could be offered contract,” Abiodun explained. The first part of the project which is likely to be a talent search all over the country is on the card. “We want this great opportunity to get to many young players as much as possible. Because players under 18 years are our priority, we have designed our

programme in such a way that it does not conflict with school calendar,” he noted. Lagos, Delta, Ogun, Enugu and Akwa Ibom states with the Federal Capital City of Abuja are the likely centres for the project camp. In his response, the General Manager of PSG Academy, Mr. Fabien Daliem said the club is delighted and committed

with the partnership. “We are aware of great potentials in Nigeria and our club’s fan-base is growing here too. This is the reason why we have offered among other things, an all-expense-paid trip to France for 15 young Nigerians. While in Paris, they will train and learn more from their contemporaries using all the club’s facilities,” he assured stakeholders at the event.

Wednesday October 5, 2016

UT H

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Ilori to APC “Even when the NWC just upheld the fraudulent primary that produced Aketi (Akeredolu), the nexus of fraud in the party is trying to perpetrate another fraud to enforce the initial fraud. And while we are still on the fraudulent primary through fake delegates and delegates’ list padding that produced Akeredolu as the candidate, another fraud is also being foisted on the party as the deputy governor.” – An All Progressives Congress (APC) chieftain in Ondo State, Bola Ilori, decrying the choice of Agboola Ajayi as the party’s running mate to Rotimi Akeredolu in the state’s gubernatorial poll.

MAGNUSONYIBE GUEST COLUMNIST

Economic Consequences of War Against Corruption

ecently, at a world economic forum, WEF event, US Secretary of State, John Kerry told his audience how Nigerian military generals shared amongst themselves 9 billion dollars that had been set aside for purchase of arms to prosecute the war against terrorism . Not only was the US top diplomat factually incorrect, because it was actually $2.1 billion that was appropriated for the war against religious extremists known as Boko Haram in north east of Nigeria, the fund was in fact a covert slush fund for marshaling votes for then ruling party, PDP which was facing serious challenge from then opposition party, APC. In my reckoning ,previously,the state oil/gas firm NNPC ,the central bank of Nigeria,CBN and a few parastatal like the ports and maritime authorities were the usual sources of funding for political campaigns, but following the heavy spotlight on the NNPC which opposition legislators compelled the Govt to embark on via forced audit by PwC and the allegation of missing $45 billion that’s supposed to accrue to the CBN from crude oil sales, a charge leveled by then CBN Gov, now emir of Kano, Sanusi Lamido Sanusi, those two regular sources were blocked. So a new platform had to be identified and the fight against insurgency was thought to be the most viable ‘soft target’ that could be explored since security votes and how they are expended are usually opaque and hardly questioned,making the Office of The National Security Adviser, ONSA seem like the best new option siphon funds. But unfortunately, then ruling party strategists were wrong as they failed to realize that in a liberal democracy with a vibrant opposition and civil society, there is no hiding place for such financial debauchery. Be that as it may, it’s important to recognize the fact that the use of govt funds for campaign is not peculiar to Nigeria because in India, construction contracts are used by politicians to funnel slush funds for politics and that’s according to World Economic Council report. What the US Secretary of State, John Kerry’s submission at the World Economic Forum, WEF did to Nigeria was to once again unduly put the country under a negative spot-light as she was used as a metaphor for corruption which is rather unfair, more so as the current government in power has done a lot to rein in corruption. It is even more disheartening and appalling that the presentation of our country in very bad light was facilitated by Nigerian leaders who in a bid to enhance their selfish political capital, embarked on campaign of calumny against the current opposition party PDP. But unknown to them, the new ruling party, APC was literarily shooting itself in the foot because, it is such shenanigan that has, in part culminated into foreign investors apathy to the nation, as we had warned against in several media interventions, but govt failed to heed our advise. Put succinctly, the Nigerian establishment unwittingly attracted opprobrium to itself by arming critics with damaging information and data to assail the country through their unguarded and largely exaggerated claims of outrageous corruption in Nigeria, which has now become an albatross and partly responsible for the rapid descent of the economy into recession. In my reckoning,even without such damaging comments being made to score cheap political points, a frustrated Nigerian populace would have still voted for the opposition candidate, General Muhamadu Buhari, GMB or any other candidate from a solid political party with national spread because most Nigerians were simply frustrated and were ready to vent their anger against

Buhari the establishment that is believed to be impoverishing the masses through maladministration. The assertion above is in line with emerging global trends whereby voters are railing against the establishment from the UK, Germany, France, Japan and to the US as evidenced by the outcomes of recent elections like BREXIT in England where Britons voted to exit the European Union, EU and the forthcoming elections in the US where anti-establishment candidate, Donald Trump beat 16 other candidates in the Republican Party primary election to become the GOP flag bearer. Situation is not too different in the Democratic Party, where anti establishment candidate, Bernie Sanders, like Trump, also gave the eventual winner of the party primary election, Hilary Clinton, a scare. The growing trend of voters aversion to electing into public office those perpetuating the old system across party lines consolidates the belief that voters are growing increasingly restive and opposed to the political establishment in the way it is currently constituted. The recent losses in elections by Angela Merkel’s party to far right politicians hitherto on the fringe in Germany, recent successes by Marie Le Pen’s far right party in France and the political momentum building up towards possibility of a female prime minister in otherwise hugely conservative Japan, are pointers to the inclination of voters towards seeking changes to the current democratic system of governance globally. Given the universality of indignation to perversion of Justice and disconnectedness of govts from the governed, which is underscored by their dysfunctional forms, the need for a new system of governance, different from liberal democracy currently widely operated, is becoming increasingly more imperative. Concepts such as social democracy, as opposed to liberal democracy which is now commonly practiced in the Scandinavian countries of Norway, Sweden, Finland may need to be closely interrogated to see if it might be better adapted to assuage the anger of those that are apparently resistant to bureaucracy and big money politics which liberal democracy tends to encourage or accommodate, globally . But if corruption continues to be defined only as kleptomania which is common amongst African leaders who dip their filthy fingers into public vaults,while countries like the US which uses its instrumentality of power to sponsor or support ‘regime change’ in other countries,then powerful politicians in the Western world based in Washington DC, US and Brussels, in Europe would continue to be above board. This is underscored by the fact that the corrupting acts of subversion of other sovereign polities in the name of ‘regime change’ are not defined as corruption by the World Bank, Transparency International, Tl etc which the Western powers use to

perpetuate their inequity against the developing world. The subjective definition of corruption by the West is one of the reasons Iran contra arms deal scandal of which Col Oliver North was made a scapegoat, is not considered a corrupt practice. The recent allegation that the US ferried $400 million in cash to Iran towards actualizing the six nation nuclear non proliferation agreement as being alleged by Donald Trump is another case of bribery- an adjunct of corruptionperpetrated by state. How about the institutionalized ‘bribery’ referred to as lobbying in Washington, US where business interests are procured by Wall Street dollars through lobbyists who are mainly ex-parliamentarians. Only recently, it was revealed that dollar power in the US is even stretching beyond politics as money is now being used to procure Supreme Court seats in several states in the US to the consternation of the likes of John Paul Stevens, now retired Supreme Court judge, who dissented in a court ruling in 2010 favoring notorious Citizens United which sought to overturn limits on big spending on campaigns. According to a an article by the pair of Dorothy Samuels and Alicia Bannan on Sept 28, 2016 in THE AMERICAN PROSPECT-a highly regarded- online US Newsletter , the retired judge had warned back then , that the unintended implication of overturning campaign spending limits, is that it would extend beyond political contests into the judiciary as elections into powerful state Supreme Court seats would be fueled by money, thereby undermining the fairness of the courts. The eminent jurist who had hinged his dissenting view on fear that it could put judges at risk of conflict of interest back in 2010, is now witnessing his prediction manifesting as contests for seats for 27 of 35 states where judicial elections are held into the Supreme Courts are coming up this November and top dollar is

flowing to secure the seats that would serve the interests of big businesses in Wall Street. It may be recalled that Democratic Party presidential candidate Bernie sanders campaigned against the corruptive influence of money bags in Wall Street and of which billionaire Donald Trump of the republican party, is also distancing himself and linking his opponent, Hilary Clinton. Fascinatingly, were these sleazy events to be taking place in the developing world, such a country would be dubbed a banana republic. Such is the nature of double standards perpetuated by Western powers that manifest as double jeopardy for developing countries such as Nigeria whose leader President Muhammadu Buhari, has been railing against corruption with unprecedented ferocity and might have ended up jeopardizing the economy which was already in a precarious condition following the massive crash in commodity prices. If attempts to change the course of events in another country via ‘ regime change’ against the will of the majority of citizens who could have preferred it to be done through the ballot box can be classified as corruption, as it should , then US’s attempts to change regimes in Cuba,Iran,Libya, Palestine and even Russia over the years are evidences of corrupt practices. Before Col. Muama Ghadafi of Libya was eventually killed ostensibly by his country men during the recent uprising,the strong man of Libya had been accusing the US of wanting to oust him. • Magnus Onyibe, a development strategist, futurologist and former commissioner in Delta State Govt, is an alumnus of Fletcher School of Law and Diplomacy, Medford, Massachusetts, USA

NOTE: This piece is concluded in the online edition at www.thisdayonline.com

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