Thursday 3rd November 2016 by THISDAY Newspapers Ltd

Hours After N’Delta Parley, Militants Blow up NPDC Pipeline Oil firms suspend operations as PIB passes second reading in Senate Omololu Ogunmade in Abuja, Sylvester Idowu in Warri and Ejiofor Alike in Lagos with agency report Barely a few hours after the

dialogue between President Muhammadu Buhari and critical stakeholders of the Niger Delta to resolve the crisis in the region, unrepentant militants Tuesday night

bombed the Trans Forcados Pipeline (TFP) owned by the Nigerian Petroleum Development Company (NPDC) in Batan community in Warri South West Local

Government Area of Delta State. The latest attack on the facility owned by exploration and production subsidiary of the Nigerian National

Petroleum Corporation (NNPC) forced some oil companies in the western Niger Delta that evacuate crude oil through the pipeline to suspend operations.

Sources told THISDAY that the breach of the pipeline occurred at night, resulting in a huge fire that enveloped Continued on page 10

ONE DAY TO GO... THISDAY HOME+DESIGN, ESSENTIAL INTERIORS HOLD LUXURY HOME & HOSPITALITY EXHIBITION NOV 4-6 Thursday 3 November, 2016 Vol 21. No 7868. Price: N250

www.thisdaylive.com TR

UT H

& RE A S O

A’Court President Constitutes New Panel to Hear Case on Ondo PDP Crisis...

Page 12

FG to Lobby, Provide Details to Senate to Approve $30bn Borrowing Plan Approves eight new universities, to appoint adviser for new national carrier Tobi Soniyi in Abuja A day after the Senate rejected the federal government’s $29.96 billion external borrowing plan, the executive arm of government has said that it would explore both formal and informal avenues to persuade the Senate to approve the plan.

The federal government has equally given approval for the establishment of eight new private universities across the country, bringing to 151 the number of universities in Nigeria. Briefing the press at the Continued on page 8

…APC Govs Wade into Executive, Legislative, Party Face-off

Buhari to meet party leadership soon Governors rally support for Akeredolu, target Anambra

Omololu Ogunmade and Onyebuchi Ezigbo in Abuja

The All Progressives Congress (APC) Governors’ Forum yesterday expressed concern over the frosty relationship between the executive, National Assembly and the

ruling party, saying: “It is never too late to make amends where possible.” Speaking during a visit to Senate President Bukola Saraki in the National Assembly, which was apparently a Continued on page 8

USHERS IN 10TH ANNIVERSARY OF THE SULTAN... Court Convicts Four Companies Linked to SOKOTO L-R: The Sultan of Sokoto, Alhaji Muhammad Sa'ad Abubakar III; Emir of Kano, Alhaji Muhammad Sanusi II; and the Sokoto Governor, Alhaji Aminu Waziri Tambuwal, at a special prayer to kick-start activities marking the 10th anniversary of the Patience Jonathan for Laundering $15.7m... Page 50 State enthronement of Sa’ad Abubakar as Sultan of the Sokoto Caliphate

THURSDAY NOVEMBER 3, 2016 T H I S D AY

THURSDAY, NOVEMBER 3, 2016 • T H I S D AY

PAGE EIGHT FG TO LOBBY, PROVIDE DETAILS TO SENATE TO APPROVE $30BN BORROWING PLAN end of yesterday’s Federal Executive Council (FEC) meeting, the Minister of Information and Culture, Alhaji Lai Mohammed, said council reaffirmed its commitment to engaging the National Assembly to ensure that the proposed three-year borrowing plan is approved.

He explained that the decision to step down President Muhammadu Buhari’s request by the Senate should be seen as a patriotic move. According to him, it is not unusual for the executive and the National Assembly to have agreements and disagreements. He however assured Nigerians that the executive would continue to engage the National Assembly through formal and informal channels and possibly re-present the request with detailed information to the lawmakers after fine-tuning it. The Senate had rejected Buhari’s request for authorisation to borrow about $29.96 billion over a three-year period. He made the requests in two separate letters to the President of the Senate, Bukola Saraki, and Speaker of the House of Representatives, Yakubu Dogara. Buhari said the external loans would fund targeted projects cutting across all sectors with special emphasis on infrastructure, agriculture, health, education, water supply, growth and employment generation. Other sectors include poverty reduction through social safety net programmes and governance and financial management reforms, among others. According to Buhari, the $29.960 billion is made up of proposed projects and programmes loan of $11.274 billion, special national infrastructure projects $10.686

billion, Euro bonds of $4.5 billion and federal government budget support of $3.5 billion. The government also gave approval for the establishment of eight new private universities across the country, bringing to 151 the number of universities in Nigeria. Prior to the approval, Nigeria had 143 universities, of which 61 were privately owned. With the additional eight, the number of private universities in the country now stands at 69. However, the number is still a far cry from the number of universities in the United Kingdom, which though has a much lower population, boasts of 229 universities; Canada has 311, while Mexico has 1,250. Brazil has 1,648 and Bangladesh 1,258. The Minister of State for Education, Professor Anthony Onwuka, who briefed reporters, said the ministry “submitted a memo seeking approval for eight private universities based on the recommendation by the NUC (Nigerian Universities Commission)”. He said the universities were licensed provisionally for three years and would be mentored by some existing older universities in Nigeria. He gave the eight new universities as: Anchor University, Ayobo, Lagos; Arthur Jarvis Akpabuyo University, Calabar, Cross River; Clifford University, Owerinta, Abia; Coal City University, Enugu; Crown Hill University, Kwara; Dominican University, Ibadan, Oyo; Kola Daisi University, also in Ibadan; and Legacy University, Okija, Anambra State. Onwuka said the new universities were given three years provisional licences. He also said all the new universities would be mentored by older ones. According to him, Anchor University, which is promoted

by the Deeper Life Bible Ministry, would be mentored by the University of Lagos; Jarvis University owned by Clitter House Nigeria Limited, will be mentored by the University of Calabar; while Clifford University, which belongs to the Seventh Day Adventist Church, will be supervised by the University of Agriculture, Umudike. Coal City University founded by African Thinkers Community of Inquiry College of Education, Enugu will be mentored by the University of Nigeria Nsukka; Crown Hill University owned by Modern Morgy and Sons Limited will be mentored by the University of Ilorin; while the two new universities in Oyo State, Kola Daisi promoted by the Kola Daisi Foundation and Dominican, established by the Order of Preachers, Nigerian Dominican Community, will be mentored by the University of Ibadan. Legacy University, Okija owned by the Good Idea Education Foundation will be mentored by the Nnamdi Azikiwe University, Awka. The minister said the approval was given to make sure that the teeming population of Nigerian students seeking admission into universities are given the opportunity to do so. He explained that mentoring was a requirement of the law and would be implemented by the Federal Ministry of Education and the NUC. He cited the Education Act Cap E3, Law of Federal Republic of Nigeria 2004. The information minister further explained the rationale for appointing some older universities to mentor the new ones. He said: “On the issue of mentoring, the law is very specific on exactly what is required. The first is that each of the mentoring universities would among

other issues ensure that the correct appointment of the governing council is made; that they recruit appropriate principal officers both academic and administrative; that there would be availability of human and material resources for the commencement of any academic performance. “They also have the responsibility to ensure implementation of carrying capacity. They must also assist in staff development. They must also modulate students’ examinations; must guarantee quality assurances of the university. They also have responsibility to moderate admission and also moderate external examinations, even the older universities were also mentored by universities abroad. “But we believe that by today, we have reached the situation whereby our own universities are capable of mentoring.” Also during the briefing at the end of the FEC meeting, the Minister of State for Aviation, Mr. Hadi Sirika, disclosed that the federal government would next week appoint a transaction adviser to advise the president on the creation of a new national carrier. Sirika said: “Between now and Wednesday we will appoint a transaction adviser for a national carrier, and once that is in place, Nigerians will have options, there will be competition, good aircraft and this will bring prices down.” He also said that government was introducing incentives to make sure that foreign airlines do not leave Nigeria. “On the foreign carriers that are threatening to leave Nigeria, I think it is a response to how the industry is faring globally, especially in Nigeria with recession. “Our inability to get the airlines to repatriate their foreign exchange that they earn

through sales of tickets is not helping matters also. They find it very difficult to operate and do business. Also their inability to get aviation fuel at some point and other operational reasons have exacerbated the situation. “I did say that these are commercial decisions that the airlines will take, but with the way the routes are and with what we have been doing to correct these things, I’m not sure that any airline will pull out,” he said. He explained that the foreign exchange demanded by local airlines was being provided. According to him, aviation is dollar-denominated business. “You buy aircraft in dollars, you service in dollars, you train your crew in dollars, you do everything in dollars. And we simply do not have the dollars to pay these airlines,” he added. He said, however, that the government, through the Central Bank of Nigeria (CBN) had made available $300 million out of the $600 million of the airlines funds’ stock in Nigeria to pay the airlines and to demonstrate the government’s commitment to the sector. “With government intervention, they have been given $300 million gradually and we will clear the backlog and once that happens they will not go anywhere. “Nigeria has a population of 177 million serving West and Central Africa, a 600 million people market, double that of US, half of India, and equal to Europe. This is a very important market and they know and they will stay here. “We are also offering them incentives. But the most important incentive is that between now and Wednesday, we will appoint a transaction adviser for a national carrier. “Once that is in place, Nigerians will have options,

there will be competition, good aircraft and this will bring down prices,” he explained. The minister also addressed the issue of carriers like Egypt Air, British Airways, Turkish Air which fly to Nigeria with older aircraft while using better aircraft on other routes, despite the fact that the Nigerian routes pay them more. He said: “We have been talking to them seriously and asking that they change their fleet. However, some of them are constrained by some of the infrastructure we have in place. “For example, Emirates would love to bring the kind of aircraft they fly around the world but the apron in Abuja does not support that aircraft. That is why the aircraft they take to Lagos is different from the one they take to Abuja. “That inadequacy is also being addressed and once that is done, we will have befitting aircraft coming into Abuja. This has always been a challenge." The government also approved an upward review of the contracts for the completion of the international and the domestic wings (phase 2) of the Port Harcourt International Airport. Sirika said the projects were captured in the 2016 budget, adding: “So very soon we will complete that very important airport especially the arrival section. Port Harcourt Airport has been tagged the worst airport in the world, but by the grace of God and the wisdom of council, it will be completed.” He explained that the cost of rehabilitating the international wing of the airport was jacked up from N777,726,669.30 to N1,684,520,310.58. The contract was given to the original contractor, Messrs Entaba. According to him, the cost of refurbishing the domestic wing of the terminal building was also increased from N746,830,782.12 to N1,411,662,855.67.

to what I see in my own government, that it is difficult to succeed as an executive if you do not have the proper support of the legislature. “I will appeal that we make amends where possible to ensure the smooth running of the government of the Federal Republic of Nigeria. And we intend again, to hold a meeting between the executive, the legislature and the governors and the presidency as soon as possible. “May I suggest that His Excellency, President Muhammadu Buhari, has also agreed to address the leadership of our party very soon. But before that, I think all the rough edges must be smoothened, so we can truly tell the world that we are the government in power, as our government is in the majority. “Again, I want to thank you for the time taken to receive me and pray that this very visit would mark a new beginning in our relationship. Thank you,” the Imo State governor said. Responding, Saraki said Okorocha had raised vital issues that the APC National Assembly Caucus would look into, assuring him that the Senate would work in synergy with the executive to deliver the dividends of democracy to Nigerians who voted APC into power. He said the crisis was surmountable, regretting, however, that the leadership of the APC had not deemed it fit in the last 16 months to visit its members in the National Assembly. He said with synergy between the party, the executive

and legislature, the interest of the common man would be maintained. Senators in the meeting were the Senate Leader Ali Ndume, Dino Melaye, Rafiu Ibrahim, Isa Misau and Aliyu Sabi Abdullahi. Okorocha’s meeting with the Senate president and other senators of the APC came on the heels of an earlier meeting yesterday between the Imo governor and the National Working Committee (NWC) of the APC at its national secretariat in Abuja. Speaking to journalists yesterday shortly after his meeting with the APC National Chairman, Chief John OdigieOyegun, and members of the party’s NWC, Okorocha said that Buhari had promised to come and address the party on the way forward and resolve the issues that have torn the it apart. “I came to commend them for their understanding, patience and the sacrifices they made especially during our elections. The president, who is the leader of our party, will be addressing the party leadership very soon. In fact, within the next two months and from there, we shall take it up to ensure unity of our party,” he said. Okorocha, who drove to the party secretariat straight from the Presidential Villa after consulting with the president, said that Buhari was also desirous of getting all disputes within the party resolved so that the ruling party could march forward with the administration to deliver on promises made to Nigerians ahead of 2019.

Regarding the problem arising from the selection of the party’s candidate for the November 26 governorship election in Ondo State, Okorocha said the governors had resolved to seek the understanding of all concerned in rallying support for the party’s candidate, Chief Rotimi Akeredolu. Okorocha, who also spoke of the need to restructure the party, however, tried to calm nerves, assuring the Oyegun-led NWC that no one would be bullied out of office. “The restructuring we

…APC GOVS WADE INTO EXECUTIVE, LEGISLATIVE, PARTY FACE-OFF follow up to a meeting held between APC governors and President Muhammadu Buhari last week, the chairman of the forum and Imo State Governor, Rochas Okorocha, harped on the need for unity within the party.

Okorocha, who said he was visiting the National Assembly in his capacity as the chairman of the forum, lamented the festering crisis in the ruling party, which he said had defied resolution, describing APC as the architect of its misfortune. He appealed to the Senate President to deploy wisdom in handling the crisis with a view to promoting peace and unity in the party. “This is the very first time I am coming to your office and I am here because I am concerned. I am here because I am a stakeholder. I am here as the chairman of the Progressives Governors’ Forum - your friends and colleagues in the struggle. “Mr. Senate President, leaders of these great Senate, you may recall a few years ago that we were all in the trenches, in battle, asking for change in the Federal Republic of Nigeria. I recall vividly the role most of you played in that very struggle. “We became a government when no one gave us a chance to be so. And shortly, Nigerians believed in us and entrusted us with the responsibility of leading this nation. But one year and several months after, we have not been able to manage this God-given victory very well and it is very worrisome, Mr. Senate President.

“That Nigerians expect so much from us but yet we seem to be in crisis with ourselves. Not a crisis made by the opposition parties but a crisis created by ourselves for ourselves and which has kept us in a totally difficult position, so we are not making the headway we need to make as a party. “One wonders then what went wrong. Where did we get it wrong? And after these troubles and after the much hope we have given to Nigerians, we still cannot work together as a party, as a family. “And I noticed particularly that there is so much bitterness in the system - from the party, from the legislature, from the executive, from the governors - and it seems to me like there is no more platform for us to chant those old songs which we used to sing in the days of the struggle for change. “One wonders was this what we were asking for, or was this the change we were asking for? I think Nigerians expect so much from us and at the end of it all, Nigerians will not ask us, how many of each other we have been able to destroy or how many we have been able to bring down? “They will ask us how many plates of food have we put on the table of the common man who elected us? So I am here Mr. President of the Senate to call for unity among us and our party. And to sheathe our swords in whatever from the anger that has gotten to us. “We noticed and we know that we are a party with the majority at the National

Assembly and we are a party with the majority in terms of the number of governors, as well as state houses of assembly. “But we noticed that there is no cordial relationship between the governors, the executive and the legislature. And let me re-emphasise that in all these arms of government, it is only the legislature and the executive that are the elected members, not the judiciary. “And Nigerians will hold us responsible as the executive and legislative arms of government. So we must act quickly to ensure peace reigns among us. I have discussed with the party - that was my first point of call - to seek what we must do to forge a way forward. “The governors recently met with the president all in a bid to move this party forward and bring about unity. Today, I am before you, the Senate President, number three citizen of this country and I ask you to use your wisdom to bring peace in our party. “We need to enjoy that very vibrancy for which the National Assembly has been known. We need to enjoy those things that the opposition PDP used to enjoy when they were the majority in the National Assembly. “The APC government must see you as holding the majority in the National Assembly, not minority in the House. My Senate President, my Senate President, my Senate President, to whom much is given, much is expected and two wrongs can never make a right. “It takes one arm of a relationship to make good the other. I liken my situation

Continued on page 10

TOP GAINERS NGN NGN CHAMPBREW 0.18 2.64 TRANSCORP 0.06 0.93 ASL 0.11 2.31 MRSOIL 2.16 45.51 UNIONBANK 0.21 4.51 TOP LOSERS NGN NGN ETI 0.53 10.18 OANDO 0.23 4.47 UPDC 0.15 2.94 PORTPAINT 0.07 1.38 FIDSON 0.06 1.21 HPE Nestle Nig Plc N795.00 Volume: 202.705 million shares Value: N1.259 billion Deals: 3,337 As at yesterday 2/11/16 See details on Page 37

% 7.3 6.9 5.0 4.9 4.8 % 4.9 4.8 4.8 4.8 4.7

THURSDAY NOVEMBER 3, 2016 T H I S D AY

T H I S D AY • THURSDAY, NOVEMBER 3, 2016

NEWS HOURS AFTER N’DELTA PARLEY, MILITANTS BLOW UP NPDC PIPELINE the site of the attack.

“Suspected militants attacked the NPDC pipeline in Batan with dynamites. As I am speaking, the place is engulfed with fire but efforts are being made to put it out,” a community source said. Another the community source confirmed the incident, stating that they heard a huge explosion in the early hours of yesterday only to discover it was a pipeline belonging to NPDC that had been attacked. “We heard a huge explosion. As usual, when we came out, we discovered that the pipeline had been attacked again. We are not sure whether it was militants that caused it or not,” he said. No group has claimed responsibility for the attack. “The attack was carried out with the aid of dynamite and it is coming less than 48 hours after the resumption of operations at the flow station,” a security official, who declined to be named, told AFP. The pipeline was attacked in July and had only resumed operation at the weekend following repairs. Security sources disclosed yesterday that the latest attack by suspected militants might be as a result of the commencement of repair work on the pipeline while negotiations are still ongoing between the Niger Delta leaders and the federal government. “You know that they have always warned that no repairs should be carried out on any of the breached oil pipelines. Maybe they are angry that repairs had commenced and resorted to the attack,” a military officer told THISDAY. A security agent, however, had a contrary view stating that illegal oil bunkerers had deployed a new tactic of engaging militants to breach pipelines to divert the attention of security agents from their illegal acts of siphoning crude from pipelines and oil well heads. “I think that is what happened with the Batan attack yesterday. While the security agents are concentrating on searching for the perpetrators of the attacks, less attention will be given to the activities of the illegal oil bunkerers,” he said. An Ijaw leader and chairman of the oil-rich Kokodiagbene community, Gbaramatu Kingdom in Warri South West Local Government Area, Mr. Sheriff Mulade, confirmed the attack on the pipelined but condemned the action, saying that there was no justification for it. “I heard about the attack. I condemn it. We peace loving Ijaws condemn it because the federal government has opened dialogue with our leaders. So what excuse do they have for that attack?” he asked. Another community leader,

Austin Ozobo, also confirmed the attack but said it might have been a reaction to a comment credited to President Buhari during the dialogue with leaders of the region on Tuesday. The president had said that those who are displeased with Nigeria should go to another country, but this was mainly played down by most of the press. The spokesman of Joint Task Force (JTF) in the Niger Delta, Lieutenant Colonel Olaolu Marcellinus Daudu, was silent on the attack, while the commander of Nigerian Navy Ship (NNS) Delta, Commodore Joseph Dwunze, could not be reached for confirmation, as an aide said he was busy at the time THISDAY called his line. Since February, several militant groups have attacked oil facilities, slashing the nation’s output and hammering revenues. The groups claim to be seeking a fairer share of Nigeria’s multi-billion-dollar oil wealth for residents of the region — as well as greater political autonomy. Following peace talks in Abuja chaired Tuesday by the president, the Minister of State for Petroleum, Dr. Ibe Emmanuel Kachikwu, had said the country’s oil production was returning to normal. “The reality is that as of today and this morning, we are at 2.1 million barrels production. That’s substantial,” he said, adding that efforts to secure peace were succeeding. Nigeria normally produces around 2.2 million barrels per day (bpd), but output dropped to a low of 1.4 bpd this year due to rebel attacks.

Oil Firms Suspend Operations Following yesterday’s attack on the pipeline, some oil companies in the western Niger Delta that evacuate crude oil through the pipeline were forced to suspend operations. The Trans Forcados Pipeline is the major trunk line within the Forcados oil pipeline system, the second largest network in the Niger Delta, which receives other pipelines from onshore oil fields and feeds the Forcados export terminal. The Forcados export terminal owned by Shell Petroleum Development Company (SPDC), which also operates the Trans Forcados Pipeline, has an oil export capacity of 400,000 barrels per day. Crude is delivered to offshore loading berths for export through a 31km 48inch subsea pipeline, which was recently repaired after it was damaged in February by the Niger Delta Avengers (NDA), the militant group that has claimed responsibility for most of the attacks on oil

facilities in the region. Apart from Shell and NPDC, other companies that rely on the Trans Forcados Pipeline include Seplat Petroleum Development Company Plc, Neconde, and First Hydrocarbon Nigeria (FHN). THISDAY gathered that some marginal field producers such as Pillar Oil, Midwestern Oil and Gas, Platform Petroleum and Energia also convey their crude oil through the pipeline. A top official of one of the companies, who spoke to THISDAY off the record, confirmed the breach on the pipeline, saying it had affected the operations of some of the companies. “Some of us were affected by the breach on a section of the pipeline. Some of us rely on that section of the pipeline to take our crude to the export terminal. We have been down since yesterday (Tuesday),” one of the officials told THISDAY. A spokesman of Shell Nigeria, Mr. Precious Okolobo, declined to comment on the incident when contacted by THISDAY.

PIB Passes Second Reading But with the Niger Delta still reeling from militant attacks, the Petroleum Industry Bill (PIB), which will set out new reform measures for oil and gas operations in the country, scaled its second reading in the Senate yesterday, after it had suffered several months of inactivity in the federal legislature. It was later referred to the Joint Committee on Petroleum (Upstream, Downstream) and Gas. The committee has four weeks to return the bill to the Senate for passage. Re-christened the Petroleum Industry (Governance) Bill, the bill is introducing some reform measures aimed at enhancing the effective regulation of the oil sector. Leading the debate on the bill, Senate Committee Chairman on Petroleum (Upstream), Senator Tayo Alasoadura, said whereas the bill was first introduced in 2008 in the National Assembly, several efforts made to pass it by the sixth and seventh Senate fell through. According to him, the persistent failure to pass the bill had had adverse effects on the petroleum industry in Nigeria, thus “keeping the country’s future in limbo and denying Nigeria the unique competitive edge as an oil and gas leader in sub-Saharan Africa”. Alasoadura explained that the eighth National Assembly had adopted a new strategy towards enhancing the effectiveness of the bill. According to him, the bill had been broken into smaller pieces to enhance expeditious treatment of certain elements and consequently

make future amendments easier. Describing the bill as the first in a series of such bills meant “to reform and reposition the Nigerian oil and gas industry for sustainable growth”, Alasoadura said subsequent bills would focus on upstream, downstream, fiscal, gas administration matters and revenue management. He listed the objectives of the bill to include: The creation of efficient and effective institutions with clear and separate roles for the petroleum industry, as well as establishing a network for the creation of commercially-oriented and profit-driven petroleum entities that will add value and comply with international standards. Furthermore, he said the bill would promote transparency and accountability in the administration of the petroleum resources in Nigeria and simultaneously create a conducive business environment for petroleum industry operations. He also said given the state of the petroleum industry in the country, it had become pertinent to institute some urgent reforms in the governance and institutional structure in the petroleum sector, adding that a major flaw of the extant laws on the sector was the lack of clarity of roles and self-regulation, conflicts and unnecessary overlaps. He then proceeded to list such flaws and overlaps in the extant laws: “The Minister of Petroleum Resources is in charge of the Ministry of Petroleum Resources, and indirectly supervises the Department of Petroleum Resources (DPR), a body which is supposed to be an independent regulator; he is also the chairman of the Board of the Nigerian National Petroleum Corporation (NNPC) by law. “The lack of clear separation of government roles in the industry has hindered competition, and given ample room for sustained failures in governance and performance. “In addition, and in particular, the country is being robbed of huge revenues as a result of mismanagement of the NNPC, bearing in mind the intrusive control of the government in the affairs of the corporation, the confusion with the regulator as well as funding difficulties. “These lost revenues are needed primarily to grow the sector, improve government revenues, as well as support the much talked about diversification of the economy. “This bill seeks to cure all these, having anchored the work on three governance and control parameters – industry structure, institutional mandates and institutional governance.” He observed that in the renewed efforts to refocus and renew the petroleum industry, certain principles had been

drawn to guide the overall framework. He highlighted such principles to include: “Clear delineation of government roles and responsibilities across the industry,” which he said would involve policy formulation, regulatory oversight and commercial operations; a simple and lean structure that is devoid of unnecessary overlaps; the creation of a single strong industry regulator; and unbundling of the existing NNPC to two commercial entities that will be limited by shares, ensuring strong governance, transparency and accountability in all institutions. He also said the bill named the two entities that NNPC had been broken into as the National Petroleum Company and National Assets Management Company and then proceeded to enumerate the key institutions created by the bill, their managers and their responsibilities. “Based on these principles, the institutions proposed in this bill are as follows: (a) The minister, who shall be responsible for policy formulation and supervision of the affairs of the petroleum industry on behalf of the federal government. “The Petroleum Regulatory Commission shall be the industry regulator and watchdog, responsible for licensing, monitoring, and the supervision of petroleum operations, enforcing laws, regulations and standards across the value chain. “The National Petroleum Company, which will operate as a commercial entity, in order to ensure efficiency across the value chain. The National Assets Management Company, which shall ensure maximum value for the federation through prudent management of the federation’s oil and gas investments in assets where government is relieved of upfront funding obligations otherwise known as cash calls. For example, PSC assets. “These institutions constitute the key structures necessary to assure effective governance and efficiency of the petroleum industry,” he explained. The senator further noted that splitting the bill would enhance the commercial focus, performance, transparency and accountability and also provide the basis “for a lasting solution to the perennial funding incapacity of the NNPC”. The senator also listed the benefits to include turning the entities into smaller, manageable agencies that would reduce running cost, ensure focus on strategic interests and cost management, among others. In his contribution, Senator Barnabas Gemade (Benue North-east) hailed the split of petroleum agencies in the bill, saying it would reveal the true picture of the entire petroleum

industry and also promote corporate best practices. Gemade also described the bill as timely, pointing out that it presents the modus operandi for the regulation of the petroleum sector in accordance with international standards. Also supporting the bill, Senator James Manager (Delta South) described it as a robust and focused framework, but expressed concern that the bill was silent on the wellbeing of the host communities. According to him, addressing the interests of the host communities would serve as impetus for peace and stability in the Niger Delta, arguing that progress can only be achieved in the region when the atmosphere is peaceful. Senate President Bukola Saraki, in his remarks, said the Senate was committed to creating the right environment for the operations of the petroleum sector. He also responded to the issue of host community raised by Manager, explaining that the bill focused mainly on governance of the petroleum sector, adding that other matters bordering on the interests of host communities would be referred for further discussions that would result in the best way to tackle it. “Clearly what we have done here is really to make us to move forward in this important bill; to see that after so many years, we finally pass this Petroleum Industry Bill. “And that is why it has been put into different sections. But I want to give a commitment on behalf of our colleagues that this one is just on the issue of governance. “Before we proceed into the finalisation of this part of the bill, the committee must come with a bill regarding the issue of the host communities for discussion and I think that can be done within the next four weeks before we come back for consideration of clause by clause. “We must bring the bill here on community issues, so that we can also pass it in a second reading and commit it to the committee. “It would be fair to create an understanding that the purpose of this bill is to send the message that truly, as a Senate, we are committed to ensuring that we create that enabling environment for this sector. “We can only do it in an environment of peace. So we will put it that while this bill is being referred to the Committees of Petroleum Upstream, Downstream and Gas, and being expected back in four weeks, we want to have the bill for the consideration of the issue of the oil bearing communities and also things like the fiscal issues within four weeks time,” Saraki said.

it is just a question of whether the governors will sponsor the party or the president. Every member of the APC will also sponsor the party. “I was here to meet with members of the NWC and deliberated on what we must do to ensure unity in the party. We noticed that there is so much bitterness among the ranks and members of our party and there is need for communication and dialogue because where there is no communication and dialogue, war is inevitable. “So I came here for a call for unity and the governors are willing to show leadership in this regard by making sure

that all the National Working Committee and the APC governors and members of the National Assembly work to ensure unity in our party. “You may recall that it was the same NWC and these party leaders that saw us through during the last elections. What that means is that these people were good enough. I want to assure them that no one will bully them out or hush them up. “But there is need to make amendments, which is natural with any human organisation. So the party will be restructured for the purpose of making it stronger and to move it forward

as a people and as a party. “Our party is a united party and a strong party and we must take advantage of the moment especially with the visible crisis in the PDP. Many good people in PDP want to join APC, but they are still watching because they have not seen us show that which we are known for. “We were so united before elections and there is no reason why we cannot manage this victory. So APC must manage this victory,” he said. Okorocha’s meeting with the party leadership which started at about 2.15 p.m. had most members of the NWC in attendance.

…APC GOVS WADE INTO EXECUTIVE, LEGISLATIVE, PARTY FACE-OFF envisage in the party is not in terms of who comes in or goes out, but in every human organisation, there comes a time when there is need for restructuring. It could be to add more people, it could be to strengthen the party at all levels. “Of course, you know that these people are duly elected people whose tenure will expire in 2018. “But where there is need for restructuring, we will do so because I have come to reassure them, because sometimes if you have the fear or worry that you are not stable, you will begin to react in a negative

form. But if you know that you are comfortable you put in our best,” he said. The APC Governors’ Forum chairman said that he and his colleagues are worried about the brewing crisis in the party, which if not arrested in good time may affect the party’s continued unity. He urged all those aggrieved over the choice of the party’s governorship candidate in Ondo State to bury the hatchet and rally behind the party to ensure that it wins the election. “We also discussed the issue of Ondo election and we have said that as a party, we must show our strength and

visibility in Ondo and I have made appeals to the NWC to relocate their office to Ondo to show support and the governors will do so equally to ensure that APC wins Ondo. “Anambra is fast coming and we have said that we must start early to show strength in Anambra State, so that APC can also capture the state. “The system that brought President Buhari as president of Nigeria is the same system that we want to practise at all levels. “We also discussed the issue of funding of the party and we want to make sure that every stakeholder will be part of it;

THURSDAY NOVEMBER 3, 2016 T H I S D AY

THURSDAY NOVEMBER 3, 2016 • T H I S D AY

NEWS

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

A’Court President Constitutes New Panel to Hear Case on Ondo PDP Crisis N10m bribe: EFCC seeks to tender evidence against CCT boss

Tobi Soniyi and Alexander Enumah in Abuja The President of the Court of Appeal (PCA), Justice Zainab Bulkachuwa, has constituted a new panel of justices to handle all the appeals emanating from the legal tussle over the leadership of the Peoples Democratic Party (PDP) in Ondo State between the Senator Ahmed Mohammed Makarfi-led Caretaker Committee and Senator Ali Modu-Sheriff’s faction of the party. The constitution of the new panel followed the withdrawal of the earlier panel led by Justice Jummai Hannatu Sankey. The three justices bowed out of the cases following a petition written by a factional Chairman of the PDP in the state, Prince Biyi Poroye, who alleged that the justices had been compromised. In a letter with reference number, PCA/Abuja/VII/2016, Justice Bulkachuwa named Justice Ibrahim M. Saulawa as chairman of the panel, which has Justices Ignatius Igwe Agube and Godwin Mbaba as members.

The new panel will now handle appeals by the PDP and Chief Benson Akingboye and two others, Hon. Diri Kelly Adonye and another; the Independent National Electoral Commission (INEC) and two others; Senator Ahmed Mohammed Makarfi and another, Prince Biyi Poroye, and 10 others; and the appeal by Mr. Clement Faboyede and another. “You are hereby empanelled to sit and determine the above appeals in the Abuja Division expeditiously. Fixation of dates to be worked out with the presiding Justice of the Abuja Division,” Justice Bulkachuwa’s letter to the justices read. The leadership tussle in the Ondo State chapter of the PDP led to the substitution of Mr. Eyitayo Jegede for Mr. Jimoh Ibrahim by INEC, following a Federal High Court ruling that declared Ibrahim the rightful candidate of the PDP in the November 26 governorship poll. Jegede had emerged PDP governorship candidate of the faction led by Makarfi while Ibrahim emerge the candidate of the party faction led by Sheriff.

Meanwhile, the meeting of the National Judicial Council (NJC) is ongoing and may stretch to today to discuss several issues bordering the nation’s judiciary. The meeting will among other issues consider the appointment of a substantive secretary for the NJC. The two contenders for the job are the Chief Registrar of the Supreme Court, Mr. Ahmed Gambo Saleh and the Chief Registrar of the Court of Appeal, Mr. Aliyu Ibrahim. NJC, it was learnt, would consider them for the appointment in line with the regulations and guideline, which stipulate the issues of seniority and experience as major yardsticks in determining the best candidate for the job.

EFCC Seeks to Tender Evidence

Meanwhile, the last may not have been heard of the alleged demand for a N10 million bribe by the Chairman of the Code

of Conduct Tribunal (CCT) Mr. Danladi Umar, as the Economic and Financial Crimes (EFCC), which had preciously exonerated him of the charge, has now made a request for the statement indicting him in the bribery scandal to be admitted by the court as exhibit. A retired Nigerian Customs Service Comptroller, Mr. Rasheed Taiwo Owolabi, had accused Umar’s personal assistant and protocol officer, Mr. Ali Gambo Abdullahi, of collecting bribe on behalf of Umar. Following his petition, the commission had invited Abdullahi for questioning and in the course of making his statement implicated his boss. Abdullahi, however, later claimed that the statement implicating his boss was made under duress and inducement by the EFCC. At the resumed hearing of the matter yesterday, the commission, while making its final submission at the conclusion of trial within trial

before Justice Chizobia Oji of an Abuja High Court, insisted that Abdullahi’s statement was freely made by him. In its written argument presented by its counsel, Mr. Andrew Akoja, EFCC informed the court that Abdullahi was invited by it following a petition by Owolabi that he channelled the bribe through the defendant to the CCT boss. Akoja added that the defendant freely visited the EFCC and voluntarily made the statement that the bribe money was benefited by Umar and was allowed to go home the same day. He also said defendant in his evidence in court never claimed that the bribe money was falsely or wrongly paid into his account by the retired customs officer in all the statements he made to EFCC. Speaking further, the counsel stated that the retraction made much later by the accused to purportedly exonerate his boss was an afterthought that should

not be given probate value by the court. “All the witnesses of EFCC before this court testified to the fact that the statement of the accused was freely made in an open interrogation room,” the EFCC counsel argued. “The accused alleged that he made the statement under duress and inducement, but in spite of the fact that the burden and onus to prove his allegations shifted on his head, he has not called any witness or discharged the burden in any form. Akoja said: “The accused never told this honourable court that he was tortured to make his statement. He never denied in this court that no money was paid into his account or even paid in error. A suspect who personally walks into EFCC to make statement and was allowed home the same day cannot be the same to claim that he was tortured, beaten, influenced or

CONT’D ON PAGE 53

PDP Family is Behind You, Makarfi Tells EFCC Four Olawale Olaleye The factional National Chairman of the Peoples Democratic Party (PDP), Senator Ahmed Makarfi, yesterday visited the quadruplet of Musiliu Obanikoro, Femi Fani-Kayode, Bala Mohammed and Reuben Abati in their cells at the Economic and Financial Crimes Commission (EFCC) and assured them that the PDP family was behind them. This came less than 24 hours after the Senator Ali Ndume-led team visited their friends in the custody of the anti-graft commission and urged them to remain calm because the phase would pass soon. On the Makarfi delegation were the National Secretary of PDP, Senator Ben Obi; National Publicity Secretary, Dayo Adeyeye; Organising Secretary, Senator Abdul Ningi; Senator Ughesi, Hajiya Binta Kuraye, former Special Adviser to former President Olusegun Obasanjo on Political Matters, Mr. Akin Osuntokun and a cousin to former President Goodluck Jonathan, Robert Azibaola They were said to have visited them at exactly 2.30p.m. yesterday and right in their cells. According to EFCC sources, “The PDP delegation encouraged all four of the leaders that they came to visit and expressed full solidarity with them. They were happy to see that despite their challenges and undeniably unwarranted detention, they were strong and in high spirits.

“They urged them to keep the flag flying and that they should rest assured that the whole of the PDP family is solidly behind them. They told them to keep their heads up high and remain strong,” the source added, noting that the frequent visits of prominent Nigerians to the PDP leaders at EFCC have continued to help their psychology. Responding to the prayers and words of encouragement of the PDP leaders, sources hinted that the four detainees thanked them for the visit as well as the leadership they demonstrated by coming to see them, regardless of what implications there could be for them given the disposition of the present government. Last Tuesday night, some senators led by Senate Majority Leader, Ndume, paid a visit to Obanikoro and others and urged them to continue to hold up because “it is a phase that will definitely pass.” Apart from Ndume, who led the team, others, on the team were the Deputy Minority Leader, Senators Philip Aduda; Ali Wakil, Isa Gamman as well as a former Senate Leader, Teslim Folarin. Before this, THISDAY also learnt that the Deputy Senate President, Ike Ekweremadu, was last weekend at the commission in the same spirit of showing solidarity with his former colleagues, who are still answering to different charges of financial crimes before the EFCC.

CORRIGENDUM In our report on Justice Adeniyi Ademola of the Federal High Court in Abuja titled: ‘Justice Ademola, The Gun and My Advice,’ published in our Saturday, October 22, 2016 edition, we inadvertently used the photograph of the first indigenous Chief Justice of Nigeria, Justice Adetokunbo Ademola instead of that of his grandson, Justice Adeniyi Ademola. The mix up is highly regretted. -Editor

HIGHEST HONOUR IN GHANA

Obi of Ogwashiukwu and a Trustee of the Nigeria Labour Congress (NLC), Professor Chukwuka Okonjo (second) after being conferred with the highest civil national award by the Ghanaian President, Mr. John Dramani Mahama (fourth right) in Accra, Ghana...yesterday

Pension Assets Hit N6tn with 7.2m Contributors 177,000 job losers access 25% contributions James Emejo, Ebere Nwoji and Ugo Aliogo in Calabar The Director General of the National Pension Commission (PenCom), Mrs. Chinelo AnohuAmazu, yesterday disclosed that the total pension assets under the Contributory Pension Scheme (CPS) has increased to N5.9 trillion as at September 2016 from N5.8 trillion previously announced. Speaking at the opening of a workshop for finance, insurance and labour correspondents and business editors in Calabar, Cross River State, she said 7.2 million pension contributors had so far been registered under the CPS with 170,000 retirees. Notwithstanding the successes so far achieved, Anohu-Amazu

said the implementation of the Pension Reforms Act (PRA 2004) was bedeviled by inherent challenges which necessitated a review and eventual birth of the Pension Reforms Act (2014) to address previous anomalies. According to her, the PRA 2014 sought to ensure that more tangible benefits accrued to retirees towards a more befitting retirement. She said: “Some of the major developments introduced by the new law include an increase in monthly pension contributions to 18 per cent from the previous 15 per cent, in order to ensure that retirement benefits are enhanced under the CPS for the benefit of contributors and reduction in the waiting period for contributors to access their Retirement Savings

Account (RSA) in the event of temporary loss of job from six months to four months. Other key elements in the new act, according to her include stiffer penalties and sanctions for infractions and the establishment of the Pension Transitional Arrangements Directorate (PTAD) to co-ordinate the smooth administration of the old DB Scheme of the public service; among others. Represented by the Commissioner in charge of the Inspectorate Department, PenCom, Prof Mohammed Kaoje Abubakar, the DG said the enactment of the Pension Reform Act (PRA) 2004 was a significant turning point in the quest to bequeath a sustainable and efficient pension system for

the country. She said the key objective was to provide an enduring solution to the protracted challenges associated with pensions in both the public and private sectors. Meanwhile, it further emerged that a total of 177,000 employees, who temporarily lost their jobs before their retirement age had been able to have access to 25 percent of their retirement savings account (RSA) as stipulated by law. The commission’s Secretary and Legal Adviser, Mr. Muhammad Sanni Muhammad, who disclosed this also noted that the development pointed to the worrisome rate of job losses the system particularly in the face of economic recession currently plaguing the country.

THURSDAY NOVEMBER 3, 2016 T H I S D AY

T H I S D AY • THURSDAY, NOVEMBER 3, 2016

COMMENT

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

THE MARSHAL OF MORAL ACTION

Religious leaders could do more in the fight against corruption, writes David Dimas

t is believed that religion benefits a community by teaching its people to embrace and practice truth, honesty, love and devoutness. Religion is also seen, by many, as the marshal of moral action. However, a lot of evil has been done in the name of religion, just as a lot of good has been done in the name of the same religion, basically breaking every rule in the books. By many measures, Nigeria is a very religious country. Nine out of 10 Nigerians, if not all, subscribe to a particular faith which brands them as followers of divinity. From serving as a pathway to eternity for many, to a factory for help or relief from disappointment, religion has thrived in our nation. But even so, it is also widely believed that Nigeria is one of the most corrupt countries in the world. As now commonly witnessed in the three arms of government in Nigeria, corruption has taken so many forms that cross ethnic, class or faith frontiers. Corruption has, overtime, impacted the Nigerian economy and remains a towering threat to peace, governance and economic development in Nigeria. In fact, it took President Muhammadu Buhari’s anti-corruption onslaught to expose a series of high profile corruption scandals that have uncovered the steep size of corruption in the country. Even though many have described the president’s stab at curbing corruption as a pie in the sky and ‘vindictive’, his government has vowed to continue with the campaign. With the above in mind, I stand with many who believe that this cumbrous task should not be left for the government to tackle alone. Religious leaders stand in a strategic position to, in various ways, help governments and companies to battle corruption by addressing it in places of worship. They can use their influence over our consciences in a pietistic pattern. While it is proper for leaders from the two dominant faiths (Christianity and Islam) to pray ‘against’ corruption, I somewhat believe that, since their words carry weight, there is more that can be done by these leaders. For example, religious groups have been largely accused

THE SICK ROMANCE WITH THE GOSPEL OF MATERIALISM MUST BE DISCOURAGED BY CLERICS THROUGH PROMOTING A CHASTE LIFESTYLE. THIS WILL, OVERTIME, REVERSE THE APOCRYPHAL DOCTRINE OF MATERIALISM WHICH IS RESPONSIBLE FOR THE WORSENING PLIGHT OF THE POOR IN OUR COUNTRY

of encouraging corruption by demanding and accepting astronomical amounts of donations from political and business leaders in their churches and mosques. There is an urgent need to cut the cackle and close this growing credibility gap. While the church or mosque cannot investigate the source of funds worshippers donate, they can consistently teach about the consequences of stealing in relation to faiths and emphasise sincere discharge of duties in various positions or offices. Becoming wealthy without work is another topic religion propagated nonstop to its believers. That being the case, a large number of followers became obsessed with this ideology and sold their conscience to corrupt practices. I remember being stopped many years ago by a task force team and bundled into a waiting van for not using the foot bridge. As we drove to the local government, the leader preached and prayed for us. After which he, without a spark of decency, requested that anybody willing to part with N2000 would be let go, instead of paying N5000 when we get to the local government secretariat. He went ahead to attribute his act of ‘leniency’ to his faith and membership of a church known for simplicity and humility. Fair enough, I took my chances and went to the local office where I ended up paying N5000 and went my way. For the most part, every human group has its own bad eggs who mostly end up being caught between two stools. But even so, since the government has drawn a line in the sand against corruption, religious leaders should stop barking up the wrong tree, and begin to change the dogma that ‘money’, ‘power’ and ‘material’ are the ultimate measurement of ‘prosperity’ and progress in our society. On the whole, the sick romance with gospel of materialism must be discouraged by clerics through promoting a chaste lifestyle. This will, overtime, reverse the apocryphal doctrine of materialism which is responsible for the worsening plight of the poor in our country. Dimas wrote from Laurel, Maryland, U.S.A

THE CHOICE BEFORE AMERICA Moses Jolayemi argues Donald Trump has no business running for the most powerful office in the world

ach time I attempt putting down my thoughts on the ongoing United States Presidential campaign, something new happens to alter the topic. If Mr. Donald Trump, the US Republican candidate sees this article, he will waste no time tweeting to blast me. He will remind me of the myriads of problems my country is currently facing and question the wisdom in sticking my nose where it is not wanted while my own country’s vehicle of progress seems to be moving speedily and dangerously on a reverse gear. I expect all that or much more from the prolific tweeter. But truth must be told. Trump, by every standard, is the worst candidate ever presented by the GOP in US history. He is a bad news, from the first blow of the whistle till date. He has become a terrible albatross not only to his party and supporters but the entire American society. I can almost hear many an American asking ‘how did Trump get this far?’ Trump appears to be leading a hate campaign and indeed taking hate groups to the mainstream as Hillary Clinton once noted. Watched closely in the last over one year, Trump has not hidden his deep umbrage for Blacks, Hispanics and women among others in his country as well as all immigrants, representing most races of the world. This takes him closer to Adolf Hitler, history’s best known human hater. Mr. Trump has never kept anyone in doubt that he abominates Nigerians with a passion. He had promised to deport all of them living in America, including green card holders and citizens, if he becomes the president. At some point in his fit of eccentricity, he threatened to deport the US President, Barack Obama, insisting that the man was not born on the soil of America. Rummaging through tones of Donald Trump’s political blunders and blasphemy, you cannot help asking how the New York businessman got to this stage. You are

compelled to ask if truly this is the best the Republican Party could present for the highly coveted office of the United States President, believed to be the most powerful position on earth. When you place this unusual fellow sideby-side with the likes of Abraham Lincoln, Ronald Reagan, George W. Bush Junior and Senior, it will be difficult to accept that this is the same America that we all know. In fact, the emergence of Trump has, to a very large extent, demystified America, which many countries around the globe, especially Nigeria, revere and refer to like the holy books for political guidance and policy formulation. The only guarantee that sanity has not taken a final flight from that country is the nomination of Mrs. Hillary Clinton, a former Secretary of State, Senator and First Lady for eight years. Otherwise, it would not be difficult to conclude that America has gone completely to the dogs. But then, America is truly a fantastic country; unarguably the only place where every human is allowed to rise and aspire to be anything he dreams to be. I have no doubt that Rev. Martin Luther King who died in April 1968 would be in celebration mode the day Barack Obama moved into the White House as president, bringing into reality his historic dream that one day one of his poor little children would “not be judged by the colour of his skin but by the content of his character”. This is what defines America. The land of opportunities. On the other hand, it is perhaps the only country, where a character like Trump, whose intellectual and political temperament fall far below all known standards, could ever be successful in business and even become a billionaire! In other climes, such strange specie of human being would have died unknown and unsung. But here we are. Trump is not only rich; he is actually running for office of the President! Ironically, Trump who happily shares many of

the qualities of Hitler, that legendary human hater who saw the rest of the world from his own parochially pathetic lenses, would have, at the peak of his career, been a night guard in Hitler’s rating. This development however, would make the soul of that reverend gentleman turn uneasily in his grave considering the fact that Trump today stands for everything America stands against. Quite frankly, to allow a man with such poor refinement to fly the Republican flag, I think is an unhealthy joke. From the first sound of the gun, it was clear to me that Trump did not understand the office he desired to occupy. Not only that, I knew he did not understand the true meaning of America. I honestly thought that Trump was not serious about becoming the US President; that all he wanted to do was to say ‘look there is no big deal running for President. Even I can! ‘ He reminds me of late Fela Anikulapo Kuti, our own ‘abami eda’ who at a time Mercedes Benz car was a status symbol in Nigeria decided to use the car to transport vegetables and firewood. Something still tells me that Trump merely set out to throw one of those expensive jokes, knowing him as an incurable eccentric. I did not think it would be difficult to understand Trump who, for 12 years was a producer and star actor in The Apprentice, a US Television series created by Mark Burnett. He only quit the TV show few months ago to create this new series that is now an ugly part of US history. But the Republican Party appeared lacking in wits to appreciate what could just have been Trump’s slapstick and transitory paroxysm and it went on to endorse a man who impenitently negates almost everything American. A man who will build a long, high wall and “compel” Mexico to pay for it, deport all immigrants, romance with America’s known enemies including the Russian dictator, Vladmir Putin, among others.

At the second and probably the most important presidential debate, he told the whole world that he would put his political rival in jail as soon as he takes office, ostensibly following in the footsteps of our African dictators. That debate, like his entire campaign, goes down as the worst ever in US history. Few days before then, a 10- year-old video was released where Trump, then 60, bragged heartily about what appears his favourite pastime - grabbing women in their genitals, kissing them against their wish, throwing himself on them and whatever else catches his fancy, irrespective of their marital status. I guess it was at that point that the rude joke was thrown at the faces of the Republican leaders. And they began to leave in droves. Well over 30 senators, House of Rep members, governors, former presidential candidates, many of them from the key battleground states, withdrew their support within hours after the tape was released. On the withdrawal list you have the highest political office holder in the Republican party, Paul Ryan who is the speaker of the House of Representatives; Senator John Mc Cain, the 2008 GOP candidate who gave Obama a fierce fight and Jon Huntsman, the governor of Utah and former presidential candidate as well as Jason Chaffetz who also represents Utah in the Congress. But then, you want to ask; ‘what took them so long? It seems to me that beyond Trump’s tantrums, he is a very smart guy. He knows them but they knew him not. In one of his tweets, he confessed “people trying to figure out who I am but they can’t”. Most Republicans, including those who have not publicly withdrawn their support, know that the game is up and November 8 is for Clinton. In announcing his withdrawal, Ryan said he needed to focus on ensuring that the party retains its majority in Congress. Jolayemi is former Editorial Board member and former MD/Editor-in-Chief, Newswatch Newspapers

T H I S D AY • THURSDAY, NOVEMBER 3, 2016

EDITORIAL THE RESURGENCE OF POLIO

The relevant authorities must redouble their efforts to ensure polio is kicked out

he World Polio Day held last Monday came with the shameful revelation that Nigeria remains the only African country still battling with the scourge. This is against the background that on July 13 this year, the wild polio virus type one (WPV1) was detected in two local government areas of Borno State. According to the Federal Ministry of Health, the virus was detected in Gwoza Local council in a child with acute flaccid paralysis. The case in Jere Council was from a close healthy contact of a child who had earlier developed the symptoms. Only last month, yet another fresh case was discovered. Whichever way, this is a major blow to the country’s efforts, having stopped the transmission of the virus and had been taken from the list of endemic countries last year. These new cases were the first WPV1 detected in Nigeria since July 2014. Indeed, last June, the country had a ‘muted’ celebration to mark two years without polio cases, only THE KEY TO RIDDING to be faced with THE COUNTRY OF THE the resurgence of DEVASTATING DISEASE the disease. But IS A RETURN TO ROUTINE rather than bemoan IMMUNISATION REGIME the situation, a more productive approach would be a determination to battle the crippling disease. Polio is an infectious disease caused by a virus which invades the nervous system and often causes irreversible paralysis. It can strike at any age but mainly affects children under five. There is no cure for polio as it can only be prevented through vaccination and as long as a single child remains infected with polio, unvaccinated children all over the world are at risk. It would be recalled that as recently as 2012, Nigeria had accounted for more than half of all global

Letters to the Editor

polio cases. But the country made significant progress, thanks to the concerted efforts from all levels of government, civil society, religious and traditional leaders as well as tens of thousands of dedicated health workers to contain the disease. There was also strong community involvement, especially from the volunteer community mobilisers, volunteer ward supervisors and more. The emergency operations centre, established at the national and state levels, form the strategic block for strong response to outbreaks. Yet despite these efforts, we still have the current setback. That is why the relevant authorities must now redouble their efforts to ensure that polio is kicked out once and for all.

T 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

he resurgence of the virus is an indication that the battle is far from being won. Even when we must commend the present government for building on past efforts by re-energising the process, there is a need to do more. All officials must roll up their sleeves to tackle the polio challenge. State governors in the high risk states need to take the lead with their local government officials in every community, especially in Borno and adjourning states in Northern Nigeria. Since a threat of polio in any state is a threat to all Nigerian children, routine immunisation must be intensified considering that the detected cases were reportedly from a stock that had been circulating in the country since 2011. Health officials in all parts of Nigeria, whether north or south, need to do more in their efforts to improve the coverage level of childhood immunisation and other child survival issues that plague the Nigerian child. As we have argued several times on this page, the key to ridding the country of the devastating disease is a return to routine immunisation regime. As we ask for more intensified campaigns to kick out polio, there is also the need to return to the path of peaceful co-existence. It is evident that the campaigns cannot thrive in the midst of chaos.

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.

OLUSEGUN MIMIKO: CAUGHT OFF GUARD?

n 2003, the wily former President Olusegun Obasanjo was tired of being reminded by the hawks in the then ruling Peoples Democratic Party (PDP) that he had no political base. He caught the awkward look of the Emperor who wore no clothes since he owed his 1999 electoral victory to the Kaduna mafia.

He struck a deal with the South–west governors that they should all back his second term bid and in return he would reciprocate their support by ensuring they all returned victorious at the polls. He played the tribal card and urged them to look beyond party lines to give him his full support since they were all Yorubas. The gimmick worked as five states with the exception of Lagos fell for the antics of the retired general who made a mess of the thinking faculties of veteran politicians and erstwhile pro-democracy activists. The Balogun of Owu had a field day laughing at the grand folly of the vanquished. The victory in Ondo State was not solely aided by Obasanjo’s craftiness. The political astuteness of Dr. Rahman Olusegun Mimiko popularly known as Iroko came to bear on the Sunshine State. The late Dr. Olusegun Agagu indicated his interest to run against the late Chief Adebayo Adefarasin who had earlier defeated him in the 1999 elections. It was going to be an uphill task to dislodge Agagu as Adefarasin was a staunch Awoist with the name of Awolowo used as a trump card by the then Alliance for Democracy to sweep the entire South-west. The fact that Agagu was aviation minister under Obasanjo who was still a very much hated man as he didn’t throw

his weight behind the candidacy of the presumed winner of the June 12 Presidential elections, Chief Moshood Kashimawo Olawale Abiola greatly dampened his popularity. Mimiko came in very handy and was the unseen fulcrum on which the Agagu campaign was launched. In the end, Adefarasin was forced to vacate lock, stock and barrel in one of the most shocking defeats in the hitherto progressive state. Let us not forget that in 1983, Micheal Adekunle Ajasin was defeated by his former deputy, Michael Akin Omoboriowo. The defeat led to a mass protest by the people and the Inspector-General of Police at the time, Sunday Adewusi was forced to hurriedly ferry Omoboriowo out of the state to Lagos to halt the violence that engulfed there. The acceptance of the victory of a conservative government two decades later was a testimony of the wizardry of Mimiko. Agagu in compensation not only made him the Secretary to the State Government but also nominated him to Obasanjo’s cabinet to replace Mrs. Mobolaji Osomo. In 2007, Iroko showed that the treacherous game of politics was fuelled strictly by interests and turned against his former boss by contesting against him. He lost and took his case to the Elections Petitions Tribunal. To the amazement of all, Iroko emerged victorious in 2009. What baffled many pundits was the fact that he contested on the platform of the Labour Party which showed his invincibility. He went on to rule the state like a fiefdom with a coterie of praise singers and boot lickers eternally fawning over his every whim. There were subtle overtures made for him to join the former Action Congress

of Nigeria but he chose to maintain his ‘independence’ by being the lone wolf in the wilderness by sticking to his membership of the Labour Party. In the end, he made a volte-face by joining the Peoples Democratic Party in the run up to the 2015 general elections. His invincibility suffered the first blow when he failed to deliver the state to the PDP. The second blow came with the clinching of the PDP ticket for the 2016 elections by Mr. Jimoh Ibrahim fondly known as Araba. Iroko’s anointed candidate was Eyitayo Jegede, SAN who won the election under the Senator Ahmed Makarfi led faction. Ibrahim won under the Senator Ali Modu-Sheriff faction which is widely believed to be the weaker of the two. Ibrahim sold himself to the Nigerian public as turn-around business expert after he lost the 2003 gubernatorial elections in Ondo State to the superior machinery of Iroko’s wits. He was quoted to have said that he was so downcast that he thought of packing his bags and heading for Uncle Sam to lobby for a teaching position before Cecilia Ibru of the defunct Oceanic bank pleaded with him to remain in the country and supported his business ideas with a trunk load of funds. His critics dismissed him as an undertaker because of the way and manner he ran his businesses in the aviation, energy and publishing sectors. His obtaining of the PDP ticket can best be described as a case study of a political hostile takeover. Ibrahim is a man that seems to win his battles. We recall how he won the control of Nicon Insurance and Newswatch after a protracted court battle. Tony Ademiluyi, Lagos

THURSDAY NOVEMBER 3, 2016 T H I S D AY

T H I S D AY • THURSDAY, NOVEMBER 3, 2016

POLITICS

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

PERSONALITY INTERVIEW

Jibril: How Budget Fraud, Padding Work The Chairman, House of Representatives Committee on Appropriation, Dr. Abdulmumuni Jibril, who was recently suspended from the House for a period of 180 days as a result of his controversial disagreement with some principal officers of the House over alleged budget padding, insisted in this interview that he would not look back despite his travails. He spoke with some journalists in Abuja. Iyobosa Uwugiaren presents the excerpts:

hen you were making the revelations against the leadership of the House, did it ever occur to you that you could be suspended? I actually didn’t think about suspension as at then because in my own thinking, it would be ridiculous. I never thought that some members of the House would choose to act in a very reckless manner. I have never seen that sort of impunity in my life. While I was dishing out the allegations, my impression was that by the time we resume, of course my colleagues will do the right thing and the right thing is by insisting that the House investigates the allegations and also collaborates with the antigraft agencies and the Nigerian police and of course the Department of State Services (DSS) that have already commenced investigations. That was what I anticipated. But to my surprise when we resumed, a motion was raised and it was referred to the Ethics Committee. I actually thought it was referring the issue in its entirety to the Ethics Committee so that one can go and discuss the allegations that were raised, only for me to read the other paper and discovered that the only item they were taking there is that I bridged the privileges of the members of the House. That was why I declined participation because it made no sense to me. Let me give you an analogy. It’s like a case of someone shouting thief in a market square; rather than people following the track of where the thief was running towards and everybody saw where the thief was running towards, they rather now apprehended the person shouting thief and started beating him up. So, you find

Now, I’ve heard that Minister of Finance has been invited to brief one leadership. Minister of Budget has been invited to brief another leadership. That is where the whole budget fraud and padding issue is negotiated. When they go there, there is nothing that is being discussed apart from, oh, I have this contractors I want you to pay him his money; ah, you did not put my project in the budget… They go there and commit the House at such meetings

Jibrin...there is corruption in the process

that very ridiculous and extremely rare. Personally, in 40 years of my life in the world, I have never seen where that happened. Wherever you hear thief, people try to run towards that direction where the thief has gone. But what the House of Representatives did was rather than follow the track where the thief is running towards, they now decided to go towards the person who is shouting thief, obviously to silence him. Are you seriously saying you didn’t think they were going to come after you? You’ve been part of that cult and you were going to expose them and you were expecting them to allow you get away with it? A couple of people have asked me that question which also relates to the question he has just asked because, the point is still on – didn’t you see this coming? As an insider, the point I’m trying to make is that I was so sure because the facts are out in a way that it has never happened in this country. So, I will never have thought that they will decide to turn the other way, rather than looking at the focus of the issues. The difference from the case of the past is that you could have issues coming up as speculations, like somebody from outside the system saying running costs are being mismanaged, or that there is budget padding etc. In that kind of instance, you could quickly look at a case of connivance or gang up or whatsoever. But in a case where I said four principal officers did this and I clarified the allegations one after the other, there wasn’t anyhow I thought there was going to be a gang up, except under one condition, and that I know in the course of our discussion, I will get into. While you were making the allegations, a group called the Transparency Group in the House that appeared to be supporting you. All of a sudden, we no longer hear from them.

When you were suspended, we thought they were going to rise on your behalf. But up till now, we have not heard from them. What happened? Excellent question! All the three questions are related and this question gives me the leeway to open up the answer. Nigerians are surprised: is it that there is only one person that has conscience in the House of Representatives? At least, during the recess, you had the Transparency Group and the Integrity Group talking. Soon after resumption, of course, they continued to talk. But immediately after my suspension, everybody went quiet. There is one issue and I have said it repeatedly that unites the House, and that is the issue of the running cost. When you talk about the cabal, I underestimated the extent that the cabal can go to in protecting their interest. I have never thought in my life that the Speaker, the number four citizen of this country can go into a meeting and blackmail his colleagues. I have never seen that happen all my life. Of all the experiences that I have had, it is only in Speaker Dogara that I have seen someone come in because of the abundance of systemic corruption and he used systemic corruption to blackmail the whole members into silence. So, I’m not going to speak in tongues. What happened was simple. Many members are still angry about the issue of budget fraud and other issues of corruption in the House like how the Speaker managed the funds of the House; how he has kept the budget of the House in secrecy; how they’ve been taking money with the Deputy Speaker from multiple sources, millions of Naira for rent of houses, guest houses where all sorts of parties are being held; how he diverted projects to his farm and so many other issues of corruption. I tell you this: until date, members are very angry about these issues. The night before our resumption,

the Speaker arranged caucuses which looked normal to members because we normally have such caucuses, where we discuss how we are going to proceed after returning from recess and I went to the caucuses. But when the Speaker came in, the first thing he said sent everybody into shock. He said look, the issue that Jibril is raising is not only going to bring down Dogara; Deputy Speaker Lasun Yusuf, Leo Ogor and Alhassan Doguwa, it is going to involve the whole House because when they start this investigation, it will get to the issue of running cost and the issue of the running cost has become a systemic corruption in the House. Very few members are not involved in that scam. He just said it straight as simple as that. I won’t go down alone, if you allow for these issues to be investigated etc. Of course, we have to open up the running cost issue and from that meeting, people started backtracking and that was why you had a peaceful session on the first day because everybody was ready for a showdown. But that night, he struck and he put the fear of running cost because the running cost will send hundreds of members to jail directly; you don’t need to investigate it. It’s fraud. It’s a huge massive fraud and I’ve never refrained from saying it. But Nigerians are just looking. I have said it repeatedly. It’s massive fraud and nobody has come out. Since I mentioned figures and everything, has any of the 359 members come out to say Jibril is lying? It will be 100 days on Saturday and nobody has come out to say Jibril is lying. So, he used that to blackmail members. I have members who have come to me to say can you go ahead with this issue without running cost? If it were an interest of just taking Dogara out, I will not even talk about running cost issues. I’m smart enough to understand that. But I said I’m going all out, even if I am alone and that was it. How far do you think you can go alone in this battle? When I say alone, it doesn’t mean I’m actually alone. It actually means from the direction of the House. Of course, everyday you see what is going on in the media, social media, Nigerians, public commentators, everybody is concerned about it. So, the context I am saying when I say alone means that if every member of the National Assembly will drop this issue, I will continue this matter and I will not drop it. I have repeatedly said that I will never apologise. Rapprochements have been made and whatever you have and I said look, it doesn’t make sense to me to apologise when I know that the people I’m faced with are corrupt. So, why should I apologise? Maybe they feel the three years that is left for us is like 50 years. But because I have been in the system over and over again, I know that today three years is just like today and tomorrow. So, even if they will succeed in ensuring that I remain suspended, the maximum they can go is three years. If you were not removed as Chairman of Appropriation, would you have fought Dogara? The issue is that my removal was just an immediate cause. There have been remote crises. I have reported severally in the media that I protested when I saw 2,000 projects worth N284 billion in the budget and I confronted the Speaker with it. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY • THURSDAY, NOVEMBER 3, 2016

INTERVIEW

Olafemi: Bello Must Operate an Inclusive Govt Chief Clarence Olafemi, a former Speaker of the Kogi State House of Assembly and one time acting governor of the state is a chieftain of the All Progressives Congress in the state. In this interview with Journalists, he spoke on Kogi politics among other national issues. Yekini Jimoh presents the excerpts:

s a chieftain of the APC in Kogi State, what do you think about the judgment of the Supreme Court over the governorship election in the state? There have always been litigations after any major election. The unfortunate aspect of it is that the period of litigation is always difficult for the incumbent governor to fully perform. This one took about six months from the time he was inaugurated to the time he got the Supreme Court verdict. My submission is that the governor should now sit down and concentrate on governance and development. Like a football match, after a game, no matter how critical the match is, immediately the final whistle is blown the people shake hands and embrace themselves and go back to the drawing board to prepare for another contest. What should be paramount now is that everybody should sheath their swords and re-strategise for the next election as this one is over because the Supreme Court is the highest place anybody can go. However, the governor has to be accommodating. He should not throw away people’s criticism. He should see it as an opportunity to make amends. There is no perfect human being on earth, whatever anybody is doing in government; he is only trying his best. If such a person is criticised, he can only look at the criticism and filter them out to know which one is fair, political and holds no value. There is no doubt that my major concern as a principal stakeholder in APC is that it took some of us full time work and commitments, physical and financial commitments to build APC and we will not want the party destroyed or scattered. So if there are genuine complaints as to the governor marginalising the founding members of APC, he has to adjust. I am his supporter since he was inaugurated. I took the position to support him because that was the decision of my party. The judgment was not strange to me; I saw it like that from the beginning and I said it loud. Are you saying there have been complaints of marginalisation from members of the APC? Yes, I have heard complaints. I am a board of trustees member and with the death of Abubakar Audu, I am not too sure if there is anybody more senior to me in APC. Only six of us started the meeting of how to form the Kogi State APC in Audu’s house and I was there. Since then, I have been working tirelessly for the party. I was a member of the presidential campaign committee. With the deaths of Audu and James Ocholi, it remains only me and Ramatu, who is the national woman leader as members of the presidential campaign committee from Kogi. So I have a lot at stake. Those complaints are genuine, but they are not sufficient to abandon the party or abandon the governor, that is my own differences with those that are agitating marginalization. You don’t stay outside to fight a war that is inside, it must be fought from inside. But when you stay outside and you throw missiles inside, you will destroy both the good and the bad. The appeal I have for our members that are aggrieved is that we should find a meeting point to iron out things. If they carry this quarrel too far, they would have succeeded in destroying APC in the state, which is what I don’t want because I laboured to build it. I cannot be alive and see somebody destroying it. I will not be happy. That is why tactically, I have refused to attend any meeting. I still want to remain as an elder of the party that can be trusted to mediate. Mediation can come from many sources, but the most identifiable source is the national. They should set up a reconciliation committee and let people like me, who have not been so conspicuously on one side or the

it stands today, if we don’t do the reconciliation, it will bounce back on APC in the future. Idris Wada was a sitting governor, he had problem with people like me and they kept us outside for too long. By the time they wanted us in, we said no, we are not coming in; we prefer to stay outside and destroy them in an election, which we did and flushed them out. I led the largest defection consisting of about seven House of Assembly members of PDP and we were doing the underground work for two years. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Notes for File AmaechiandtheConspiracy Theory

Olafemi...allegation of marginalisation is true

other be able to come in. I have my friends and admirers, who are complaining, I belong to the government by virtue of being a party man, so I still relate with both. I’m in a better position to join any reconciliation committee. We need it. The earlier the better now that we have gotten to the end of litigations. We should not waste time because the consequences of delay is that it will make some people irreversibly opposed to this government and what it means is that they will continue to fight the government and weaken the party because the governor will continue to fight back and at the end of the day, the consequences will not be good for any side. What effort did you make to resolve the complaints about marginalization? The problem we had was that the governor came in with a mindset. Some people believe that the mindset is not political enough to make the party cohesive. When he was inaugurated, a lot of us, including a high percentage of those that were opposed to him now supported him. They were at the stadium for his inauguration. The genesis of the problem was when it came to appointments. He is an executive governor and sees himself as an executive governor, but democracy is the government of the people for the people and by the people. We have a practical example and it is that of former Governor Ibrahim Idris. When he came to power, he appointed the deputy governor from the man who came second in the primary election, which was A.T Ahmed. He appointed the speaker of the House of Assembly from Senator Tunde Ogbeha, who was the most senior ranking senator in the state. He appointed the SSG from the Akande Awoniyi group and despite this he still had his own loyalists like Abiodun Ojo, made a commissioner. The commissioners were also shared after consultations with leaders. It is a misconception to think that if you give somebody an appointment, he or she will come to your government and work against you. A typical example is the present SSG, even though she was nominated by Dino Melaye, she is loyal to the governor now by my own assessment. So, what I think is paining some of those that are outside now is that there is no doubt that

some people supported Yahaya Bello during the primary election. But shortly after he lost, these people migrated to the PDP and they faced us in the election. The 240, 000 votes that Audu gathered were against those people. We struggled against them and we got the votes and this victory, by way of death was given to the man who came second. I have nothing against that, but to now make those who fought us to get that result to be the beneficiaries completely, isolating those who fought for it, then you should expect them to react. Not everybody can behave like me because I am economically a bit stable. I can feed three square meals. What governor Idris did was that immediately after the Supreme Court verdict, he came back and reshuffled his cabinet because he was accused of putting in place a group called “Ibro family”. So, he used the dissolution of the cabinet to make amend. My own advice is that, even if Yahaya has some grievances against some people, there is no permanent friend and enemy in politics, what is permanent is interest and his interest today is that he is the father of Kogi State, not by age, he is in charge of the affairs of the state and that is confirmed by the Supreme Court, whether anybody likes or not, so he has to come down and ensure that he succeeds. Talking about reconciliation, how do you think this can be achieved in Kogi APC? It is a very simple thing. We know ourselves, we know the principal actors. I cannot talk of reconciliation with PDP, but it is still possible because there are some people in PDP today that if we talk to them they will join this government. That was what Governor Ibrahim Idris did when he brought the likes of Senator Ohiare, Senator Ohize, who were strong opposition to our government from the central senatorial district and they made us lose the whole central. We went to Abuja four times to hold meetings and negotiate settlement with them. There is always a road to peace, except you decide you don’t want to take the road. We know the principal actors; we will start from our own party first. We have the Faleke group, we have the Dino camp and the Yahaya Bello camp. These are the three major camps now that are flexing muscles against themselves. As

Constantly in the news, either for the good or the bad reasons, the latest trending news about the Minister of Transportation and immediate past governor of Rivers State, Mr. Rotimi Amaechi is rather complicated and bothersome, because it borders on corruption. Justice Inyang Okoro and Justice Sylvester Ngwuta of the Supreme, who were recently linked to alleged corruption had in their facesaving excuses, mentioned Amaechi as having offered them bribe some time ago. And in the latest discovery, some top PDP leaders, indeed former governors, have been linked to what is now considered a conspiracy of forces against the minister. Amongst them are three sitting South-south governors and one immediate past, also of one of the oil producing states. They have all been linked to the allegations by the Supreme Court Justices against Amaechi. These PDP politicians are said to be the biggest spenders, who allegedly induced the Supreme Court Justices. They are said to be the major sources of the money, wealth and properties traced by the Department of State Security to Justices Okoro and Ngwuta. The plan, it was alleged, was to drag Amaechi into their arrest and investigation by the DSS. It is believed that doing so could help muddle the waters, divert the public attention from the corruption allegations against them and make the whole arrest and investigations look like a political vendetta. The belief of these PDP top shots is that the Buhari government wants to bring them down, and the best way to go down is with Amaechi. They had painted a good picture to the Justices that Amaechi was the one behind their travails because of some governorship election matters the apex court handled and which the APC lost to the PDP. The Rivers, Akwa Ibom and Delta States governorship election appeals were cited to make Justices Okoro and Ngwuta believe that Amaechi actually orchestrated their arrest and investigation. Amaechi was further targeted because the four PDP stalwarts see him as the biggest threat to their political calculations ahead of the 2019 elections. All four are from the South-south region, just like Amaechi. They are said to be scared of Amaechi, his supposed closeness to President Muhammadu Buhari and are perturbed that the Transportation Minister’s towering image in the Buhari administration could deal a big blow to their plans for 2019. They are therefore determined to damage Amaechi and destroy him politically. Yet, the ultimate target is President Buhari, and to get to the president, the conspiracy is to first take out Amaechi after all, he spearheaded the change, in addition to the fact that they are said to hold one grudge or another against the minister.

THURSDAY, NOVEMBER 3, 2016 • T H I S D AY

FEATURES

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

A Stitch in Time The practice of engineering, like most facets of life, is impacted by poor decisions of the past. This is however giving its gatekeepers some sleepless nights and they want to nip it before it is too late, writes Chineme Okafor

A building that collapsed in Gwarinpa area of Abuja in September

“

The resultant effects of unwholesome engineering education in Nigeria have had great effects on the participation of the Nigerian engineering family in the provision of adequate and necessary infrastructural development in our country,” said Chris Okoye, chairman of the board of fellows of the Nigerian Society of Engineers (NSE). Speaking at a recent occasion where 20 members of the NSE were conferred the title of fellows, Okoye whose board screens and ratifies nominees for the fellow title, said that engineering practice in Nigeria was greatly distressed and needs a quick makeover before it loses its grandeur and relevance in nation building. He said in his description of the profession’s path to its current status, that over the years, universities and colleges of technology in the country have lost their standards and capacities to train and graduate good engineers. The country, he added has had to pay dearly for this with instances of engineering failures across its cities and towns. “The genesis of the rot in our universities and technical schools lies in the successive military administrations in Nigeria in the early 70s and their poor perceptions and appreciation of the need to continually support this most critical aspect of our national development,” he stated. Okoye was plain in expressing his displeasure with the status of engineering in Nigeria’s development matrix, and his position was further amplified by a former Minister of Power and university teacher, Prof. Chinedu Nebo in a lecture he gave at the occasion on the need to reform engineering education in Nigeria. Nebo, in his lecture titled, ‘Engineering

education reform and the competitiveness of the Nigerian economy,’ made it clear that Nigeria’s loss of economic competitiveness could be traced to the poor showing of her engineering practice. He said the fact that the country relies on other countries to provide some of her engineering needs, means that it will be difficult for her to grow home-based capacities to compete and gain economic advantages. In reality, Okoye and Nebo’s positions on the status of engineering practice in the

From roads designed and construction in the country, to homes and office buildings that are built across towns and cities of the country, down to even simple engineering acts of machine tools designs and production, the practice has witnessed an immense erosion of its credibility by quacks and dishonest practitioners

country are not hidden considering the role it has played in Nigeria’s struggles with developing her economy. From roads designed and construction in the country, to homes and office buildings that are built across towns and cities of the country, down to even simple engineering acts of machine tools designs and production, the practice has witnessed an immense erosion of its credibility by quacks and dishonest practitioners. Other key infrastructure that help keep a country’s competitive edge in good shape like power plant constructions and refineries, have also felt the unpleasant taste that bad engineering practices has bequeathed to the country. Accordingly, the dishonesty often associated to Nigeria’s sluggish national development pace has contributed in a great way to the level of decadence and loss of professional ethics in the country’s engineering practices. Over the years, poor engineering practices for instance have left thousands of Nigerians dead from collapsed structures, poorly designed and built roads and bridges, and substandard applications on infrastructure developments or even products consumed by citizens. The impacts of these engineering failures are quite enormous but get less attention from the Nigerian society. It was from poor engineering practice that a church building in Lagos collapsed in September 12, 2014 and reportedly killed more than 111 people, warranting the Lagos State government to file 111 counts charge against the owner - Synagogue Church of All Nations, its engineers - Hardrock Construction and Engineering Company; Jandy Trust Limited; and other persons that include Oladele Ogundeji and Akinbela

Fatiregun, who were reported to be the engineers in charge of the project that collapsed. Another bad engineering practice also resulted to the death of 34 people in a Lagos Lekki estate in March 8, 2016, while an Abuja plaza also gave way in September 2016 from bad engineering practices, killing scores of people. It can be argued with reasons and evidence that on the back of irresponsible engineering practices, Nigeria’s economic growth has largely slacked. The profession has sort of allowed the popular but dangerous ‘Nigerian factor’ to creep into its fabrics, giving way to irregular engineering education and poorly equipped professionals to define its narrative in Nigeria’s development space. Indeed, corruption in the engineering profession, malpractice by engineers, negligent and carefree engineers, unattended professional misconduct by engineers, incompetent engineering services, illegal activities of engineering consultants, and dangerous applications of engineering to national development, now define the practice in the country. When for convenience, engineers apply poor processes and equipment in their jobs, or get involved in corrupt practices that deprive the country of standard infrastructure distribution, they contribute in very large ways to the devaluation of the country’s economic competitiveness and capacity to sustain socio-economic development. Okoye and Nebo were not economical in their condemnation of such irregular engineering practices in the country, and called for reforms in engineering education, as one of the ways to accelerate Nigeria’s industrialisation. Similarly, the President of NSE, Otis Anyaeji shared the same sentiments when he recently presented the society’s

• T H I S D AY THURSDAY, NOVEMBER 3, 2016

FEATURES

Lekki building collapse

position on Nigeria’s economy. Anyaeji explained that the place of good education in any professional practice cannot be overlooked, hence the need to reform and reposition engineering education in Nigeria. “Good engineers and other professionals come into being through sound education and practical experience. Nigeria’s current system of education is very poor and should be reformed at all levels, otherwise how can one explain that a major oil company interviewed 2000 engineers but found none fit for employment,” he said. According to him, “A typical direct entry requirement for engineering in a Nigerian university is two A level passes which must include Mathematics and Physics plus the basic O level entry requirements (credit passes in five subjects, in not more than two sittings. “Ordinarily students with five O Level credits at two sittings should not be considered university materials elsewhere in the world; they should go and learn a trade. No good university in the industrialised world would admit such a person to read engineering.”

Nigeria needs to go back to the basics, humble itself and emulate the system of education and practices of those countries whose codes and standards Nigeria uses and copies. This is the sine qua non for pre-eminence in engineering, safety and prosperity, even after minimising corruption, nepotism, theft, self-interest and square pegs in round holes

Minister of Power, Works and Housing, Babatunde Fashola (1st right), at the site of the collpsed building in Gwarinpa

R-L: President of the Nigerian Society of Engineers, Engr. Otis Anyaeji, presenting a plaque of honour and appreciation to Guest Lecturer, former Minister of Power, Engr. Prof. Chinedu Nebo, while Chairman Board of Fellows/College of Fellows, Engr. Sir Chris Okoye, looks on at the conferment of the Society’s Fellowship in Abuja…recently

He further said: “Nigeria needs to go back to the basics, humble itself and emulate the system of education and practices of

those countries whose codes and standards Nigeria uses and copies. This is the sine qua non for pre-eminence in engineering,

safety and prosperity, even after minimising corruption, nepotism, theft, self-interest and square pegs in round holes.”

IMAGES

T H I S D AY • THURSDAY, NOVEMBER 3, 2016

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

L-R: Head, Membership Affairs and Services, Chartered Institute of Personnel Management of Nigeria (CIPM), Mrs. Titi Ashiru; President/Chairman of Council, CIPM, Mr. Anthony Arabome; and Senior Special Assistant to the President on Job Creation and Youth Employment, during the 48th Annual National Conference of the CIPM, Nigeria at the International Conference Centre, Abuja...recently

L-R: Commissioner for Information, Delta State, Hon. Patrick Okah; MD/CEO, Airtel Nigeria, ?S?egun Ogunsanya; and President, Advertisers Association of Nigeria (ADVAN), David Okeme, during the presentation of an award on Public Sector Marketing at the ADVAN Awards for Marketing Excellence in Lagos...recently

L-R: Sector Head of Operations, Federal Road Safety Commission (FRSC), Lagos State Command, Mr. Michael Olapade; Medical Technician, Emergency Rescue, Mr. Yemi Ajayi; Medical Director, ER, Dr. Kayode Solomon; and Unit Head, Medical and Rescue Office, Iba Unit Command, Mrs. Oluwabunmi Adekunle, during the presentation of certificates to trained FRSC officials in Cardiopulmonary Resuscitation in Lagos... recently

L-R: The President-General, Igbo Community Welfare Association, Kaduna, Mr. Chris Nnoli; The PresidentGeneral, Igbo Delegates Assembly, Northern States, Chief Chi-Nwogu; And Eze Igbo Kaduna Mr. Sylvanus Akke, At The 2016 Igbo Cultural Day Celebration In Kaduna...Recently I DRIS EGAJI.

L-R: Head, Regional Sales, North, Etisalat Nigeria, Babangida Mukaddas; students of Government Girlsí College, Dala, Kano, Aisha Umar and Zinab Idris; Manager, Corporate Social Responsibility, Etisalat Nigeria, Oyetola Oduyemi; and another student, Khadijah Bello, at the Career Counselling Day organised by Etisalat at Government Girlsí College, Dala,

L-R: Senior Special Assistant to Lagos State on Security, Mr. Yinka Akinrinde; Executive Member, Victoria Island/Ikoyi Residents Association (VIIRA), Dr. Mohammed Salami; Secretary to the Lagos State Government, Mr. Tunji Bello; and the Executive Secretary of VIIRA, Mr. Abdul-Lateef Muse, during the presentation of Toyota Hilux van donated by the Lagos State government to the members of VIIRA for security patrol, at the Lagos House, IkejaÖrecently

L-R: Principal, Lagos Progressive Senior Secondary School, Mrs Nike Otuyelu; Manager, Events and CSI, Stanbic IBTC, Mrs Ame Okwudi; Chief Executive, Stanbic IBTC Bank, Yinka Sanni; Principal, Lagos Progressive Junior Secondary School, Mrs Tola Santos-Anjorin; and Junior School students ó Babajide Salami and Janet Shonibare ó at a training by Stanbic IBTC to mark the 2016 World Savings Day...recently

L-R: Permanent Secretary, Lagos State Ministry of Environment, Mr. Saliu Adeyemi; Commissioner for the Environment, Dr. Babatunde Adejare; Garrison Commander, 82 Garrison Command Division Obalende, Col. Sunday Igbinomwanhia; and Sole Administrator, Ikoyi-Obalende LCDA, Mr. Goke Ona-Olawale, during the flag-off ceremony of vector control in Obalende market, by the Lagos State Ministry of Environment, at Obalende LagosÖrecently

T H I S D AY • THURSDAY, NOVEMBER 3, 2016

BUSINESSWORLD NIBOR OVERNIGHT 1-MONTH

R A T E S 16.625 19.8021

3-MONTH 6-MONTH

A S

A T

20.2709 23.0356

NITTY 1-MONTH 2-MONTH 3-MONTH

Group Business Editor ChikaAmanze-Nwachuku Email: chika.amanzenwachukwu@thisdaylive.com 08033294157, 08057161321

O C T O B E R 2 8 , 16.9846 17.1103 17.3967

6-MONTH 9-MONTH 12-MONTH

17.8059 21.3887 21.6151

2 0 1 6

EXCHANGE RATE N304.75/US DOLLAR AS AT LAST FRIDAY

Quick Takes Obi, Ekeh Lead Talks at Yudala Summit

REFINERY ON THEIR MINDS

L-R: Group Chief Operations Officer, Mr. Ajay Pandey; Technical Consultant to the President, Dangote Group, Babajide Soyode; Chairman Integrated Oil and Gas Ltd., Capt. Emmanuel Ihenacho; African Refiners Association, Tony Ogbuigwe and Director Refining Operations, Dangote Refining, Dr. George Nicolaides at the end of session on the Commercial Prospects for Modular and Full Scale Refineries at the 10th OTL Africa Downstream Conference in Lagos...recently

NERC Fines Port Harcourt Disco N38m for Regulatory Breaches Chineme Okafor in Abuja For failing to submit its audited financial report since 2013 when it took over the running of its network, the Nigerian Electricity Regulatory Commission (NERC) has imposed another fine of N37.5 million on the Port Harcourt Electricity Distribution Company (PHED). According a statement from the Head, Public Affairs of NERC, Dr. Usman Abba, the Commission said, the fine was contained in a Directive 158 which was jointly signed by NERC acting Chairman, Dr. Anthony Akah and its General Manager, Legal Licensing and Enforcement, Mrs. Olufunke

ENERGY Dinneh. The regulatory agency alleged that the Port Harcourt Disco has consistently flouted its licensing conditions, which required it to submit yearly audited financial report. It said subsequent directives to the power company to obey the licensing conditions were disregarded by the Disco. It explained that the Port Harcourt Disco had flouted at least four of its licensing conditions for failing to submit two years financial reports. Each of the four grounds of infringement NERC stated, attracted a N10, 000 fines per

day beginning from April 1, 2014 when the offences were first brought to the utility firm’s attention. “For failing to comply with the licence terms and conditions, and other regulatory instruments, which is a breach under Section 63 (1) of the Electric Power Sector Reform Act 2005, PHED is hereby fined Ten Thousand Naira per day, from April 1, 2014. “For failing to comply with Condition 6 (7) of the Electricity Distribution Licence terms and conditions granted PHED by the Commission, PHED is hereby fined Ten Thousand Naira from April 1, 2014 till the date of this Directive.

“For failing to comply with Conditions 23 (1) of the Distribution Licence Terms and Conditions granted PHED by the Commission, PHED is hereby fined Ten Thousand Naira per day from April 1, 2014,” the statement in Abuja explained. It noted that the Disco was further sanctioned for failing to provide the Commission with the requested financial information, which it added was a breach under Condition 4 of the Distribution Licence Terms and Conditions, and it was also fined N10,000 per day from April 1, 2014. Continued on page 24

Swedish Govt Calls for Proper Regulatory Framework in Nigeria Emma Okonji Team Sweden, the umbrella body for all Sweden government agencies, boards and companies currently working on export promotion initiatives for Swedish businesses, recently paid a visit to Nigeria, where it stressed the need for proper business regulatory framework in Nigeria that will enhance trade relations between Nigeria and Sweden. During the three - day visit, Team Sweden delegation, led by the Swedish Minister for Trade and EU Affairs, Mrs. Ann Linde, was received in Abuja by the Minister of Communications, Adebayo Shittu, before visiting Lagos,

ECONOMY where the team was equally received by the Lagos State Governor, Akinwumi Ambode, as well as chief executives of business organisations. Although the visit was meant to discuss ways of strengthening the long-standing business relationships between both countries, the delegation called for proper business regulatory framework in Nigeria to further boost trade relations. Addressing technology journalists during the visit, the team explained that the aim of the delegation was to highlight business opportunities in Nigeria for Swedish companies, designed to develop sustainable and

smart societies, using Swedish innovations in Information and Communications Technology (ICT), Transport, Energy, Health, Agriculture and Finance. “We need better regulatory framework for Nigeria and Sweden in order for both countries to have better and transparent business relationship. We came with two agencies from Sweden that are prepared to offer business financing, but we need a better regulatory framework that will foster business relationship between both countries,” Linde said. According to her, Sweden and Nigeria had a long-standing business relationship, and there is need to strengthen the business relationship between

both countries. Nigeria is a top priority country for Swedish trade and Sweden recognises Nigeria as a key partner in Africa and we are happy to officially inaugurate the Swedish Honourary Consulate in Lagos during this visit that will provide extensive knowledge in the areas of smart cities, energy, transportation, healthcare, ICT, agriculture, and finance. Sweden ranks as one of the world most digitalised countries and one of the most innovative economies of the world. We are well known as ICT nation with a well-structured infrastructure with advance services and advance users. We Continued on page 24

A former Governor of Anambra State, Dr. Peter Obi and Chairman, Zinox Group, Leo Stan Ekeh have been confirmed as the headline speakers for a mega entrepreneurship summit scheduled to hold today at Michael Okpara Square, Independence Layout, Enugu, with Prof. Ositadinma Chinedu Nebo as Chairman on the occasion. The entrepreneurship summit, put together by the Enugu State University of Science and Technology (ESUT) Business School in partnership with Africa’s pioneer composite e-commerce outfit, Yudala will see both renowned entrepreneurs lead the discussions into the nitty-gritty of street entrepreneurship and the ABC of creating and sustaining wealth in 21st Century Nigeria. Also expected as the Special Guest of Honour for the epochmaking event is Deputy Senate President, Dr. Ike Ekweremadu, among other distinguished guests. Already, anticipation is building up in the city of Enugu and other South Eastern states for the summit, which is expected to also grant many attendees a chance to learn more about YUBOSS – an entrepreneurship and wealth creation scheme set up by Yudala in partnership with Access Bank and Airtel and which has, only recently, received a commitment of N1.5B support from the Leo Stan Ekeh Foundation to generate creative employment and grow future billionaires in Nigeria. A world-class Nigerian Digital Entrepreneur for over 28 years, Zinox Group Chairman, Ekeh has built the biggest integrated ICT Group in Africa. Honored by former President Obasanjo as an ICON of Hope on October 1st, 2001 to younger Nigerians for his incisive digital entrepreneurship, Ekeh has earned over 70 local and international awards and 5 Honorary Doctorate Degrees for sustained entrepreneurship.

Microsoft, ISSAN Preach Cyber Security

Microsoft has called on individuals and organisations to pay needed attention to ensuring cyber security in the face of global cyber threats. This call was made at a Cyber Security Summit organised by Microsoft in conjunction with Information Security Society of Africa Nigeria (ISAAN) at Eko Hotel and Suites, Lagos. President of Information Security Society of Africa Nigeria (ISAAN), Dr. David Isiavwe, noted that October has been declared as cyber security month all over the world, to engage with consumers in order to raise cyber security awareness. He hinted that cyber attackers are getting more sophisticated such that the number of days it takes to detect an attack has increased from about fifty-eight days three years ago to two hundred days. He said “There has been an increase in cyber-attacks over the last couple of years even as cyber attackers have devised new ways to successfully attack individuals and organizations. Statistics shows that Nigeria loses N128bn annually to cybercrime while about $500bn is lost globally.” Cyber Security Architect, Microsoft Middle East and Africa, Erdal Ozkaya, stated that cybercrime was no longer a hobby, it has grown into a big business and organizations cannot continue to leave their cyber-security to chance. “Addressing today’s threats requires a new approach. If you look at how security threats have evolved over time, you will find some disturbing trends. Enterprises that are used to attacks from individuals and small groups that were out for mischief or personal notoriety have been replaced by well-funded criminal organizations seeking profit,” Ozkaya said.

Airtel Excites Customers with Bonus

Airtel has introduced a special offer for its subscribers, which took effect from October 26th, 2016. Airtel customers will get more than six times the value of every recharge on their line, just as the telecommunications services provider rejigs its SmartConnect package, to offer additional bonuses to customers on every recharge. Commenting on the newly revamped SmartConnect package, Chief Commercial Officer, Airtel Nigeria, Ahmad Mokhles, said “the company is committed to providing real opportunities to empower telecoms consumers to achieve their dreams and actualise their desires regardless of income level, status or location.” SmartConnect is Airtel’s premium default bonus plan specifically designed for new prepaid customers.

“Our long-term relationships with every major telecoms operator, will allow people, business and society create a more sustainable future” Country Manager, Ericsson Nigeria, Johan Jemdahl

T H I S D AY •THURSDAY, NOVEMBER 3, 2016

BUSINESSWORLD NERC FINES PORT HARCOURT DISCO N38M FOR REGULATORY BREACHES The NERC further explained: “The fines run concurrently from April 1, 2014 being the date the first financial report was due. Directive 158 further stipulates that the N37, 520, 000 being the total fine sum should be paid within two weeks counting from October 24, 2016 when Directive 158 was signed.” NERC stated that besides paying the fine, Port Harcourt Disco was equally expected to comply with the submission of its financial report within the stipulated time, adding that after that period, the fine will start running at five per cent interest rate until it is liquidated. In June 2016, Port Harcourt Disco and other Discos were sanctioned over their failure to comply with the NERC’s Forum directive on customer complaints. The statement however quoted Akah to have said on the development that: “The Commission expects operators in the power sector to play by the rules and that the Commission will continue to provide enabling environment for them as much as it will ensure that the rights of electricity customers are not violated.” SWEDISH GOVT CALLS FOR PROPER REGULATORY FRAMEWORK IN NIGERIA have high ambition for quality and environmental standards, and we are ready to share all that experience with Nigeria, Linde said. She admitted that Sweden has a trade deficit with Nigeria trade and investment because her country does more of export to Nigeria than import from Nigeria. She said the visit will offer her country the opportunity of finding better ways to balance the trade relation between both countries. Head of Trade Promotions, African Department Ministry for Foreign Affairs, Mr. Bengt Carlsson, who was part of the delegation, said the trade volume between both countries is worth over 5.9 billion SEK, making Nigeria, Sweden’s second largest export market in sub-Saharan Africa.

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 (Cap Mkt) Ejiofor Alike (Energy) James Emejo (Nation’s Capital) Obinna Chima (Money Mkt) Reporters

Nume Ekeghe (Money Market) Nosa Alekhuogie (Maritme)

NEWS

Weak Mobile Money Penetration Worries NCC Emma Okonji The abysmal low mobile money penetration in the country has become a source of concern for telecoms operators and the telecoms industry regulator, the Nigerian Communications Commission (NCC). The Central Bank of Nigeria (CBN), four years ago, introduced the cashless economy, designed to drive financial inclusion. Although adoption rate of cashless economy in Nigeria through various channels like Automated Teller Machine (ATM), Point of Sales (PoS) machine and other electronic transfers via internet banking, has been tremendous and commended, but the adoption rate of mobile money transfer, via mobile phones, has been very slow, and it is currently put at 1 per cent penetration, compared to Kenya’s mobile money penetration that is currently over 60 per cent. The executive Vice Chairman of NCC, Prof. Umar Garba Danbatta, who raised the concern in Lagos, told THISDAY that NCC was beginning to get worried about the low mobile money service penetration in the country. According to him, “The mobile money service penetration is just 1 per cent, whereas Kenya has a mobile money service penetration of close to 60 per cent. The mobile money service in Kenya is driven by telecommunications operators and not financial sector driven, like in the case of Nigeria. But the irony of it all is that the financial sector, which currently drives mobile money penetration in Nigeria, leverage on the telecoms sector to drive the initiative, which was introduced by the Central Bank of Nigeria in 2012.”

Danbatta is of the opinion that if the CBN had allowed the telecoms sector to drive the initiative, instead of the banks, the penetration rate would have improve greatly. Before now, the telecoms operators have raised the concern about the cashless initiative of the CBN, insisting it should be driven by the telecom operators and not the banks. But the CBN said the decision was taken to make the entire process of cashless economy bank-led, since it has to do with managing public funds, of which the expertise remains in the hands of the financial sector. Although the motive behind the introduction of cashless

economy by the CBN was to reduce the amount of physical cash circulating in the economy, and to encourage more electronic-based transactions, designed to drive development and modernisation of payment system, as well as to reduce the cost of banking services and to drive financial inclusion, the telecoms industry players are of the view that the adoption rate of mobile money is too slow, blaming the situation on the structure, which mandates the banks to drive the entire process. According to Danbatta, attempts by the CBN to get telecoms operators to serve the super agents of the banks, were resisted by the NCC, because

“we were concerned about capacity. We were concerned that the additional capacity that the banks will bring on board the telecoms platform, may affect service quality, since the telcos are not directly involved in the entire process of driving mobile money in Nigeria.” He further said: “We however said to the operators, that if they could convince us that they have the capacity to carry additional loads on their networks, to address the challenges of super agents of banks, then the NCC would grant their request. But now, there is a provision in the licence that was given to the operators, which states the condition under which the licences could be

used according to law.” He said the NCC is making move to address the situation and that the commission is currently engaging the CBN to see how to improve on mobile money service provision in the country, with a view to improving financial inclusion. Danbatta who spoke at the 12th workshop organised by NCC for the judiciary in Lagos, said the telecoms sector is dynamic and growing very fast in terms of subscriber number, infrastructure and the level of competition. Such significant growth, he said, has also brought about new challenges that needed better understanding of the judiciary to handle.

A BOOST FOR MILITARY PENSION

Founder and CEO, eTranzact, Mr Valentine Obi (left), with the Minister of Defence, Mansur Mohammed Dan Ali, during the eTranzact and Nigerian Military launch of the Military Pension Card, held in Abuja... recently KOLAWOLE ALIU

FG Urged to Promote Patronage of Made -in -Nigeria Goods Ebere Nwoji The federal government has been enjoined to give greater impetus to the patronage of made- in- Nigeria goods as a way of buoying the nation’s economy. The President of the umbrella body of insurance brokers in Nigeria, the Nigeria Council of Registered Insurance Brokers (NCRIB) Mr. Kayode Okunoren, who made the call at a media briefing in Lagos, applauded the ongoing efforts of government to revive the economy, suggesting that policy statements should be made by top office holders at the three tiers of government to urge the people to patronise Nigerian made goods. He noted for instance, that the comatose textile industry would come to life if there is a sincere pronouncement that workers now have the latitude to wear home-made clothing materials on certain days of the week. Okunoren, who drew examples from other countries that had course to look inwards at some point, said such action would stimulate growth in the various sectors and give life to the economy. “Definitely, insurance will also witness a boost through this step as more

activities would be generated across different sections of the economy. Without an iota of doubt, demand for dollar will naturally crash when demand for local goods is intensify”, he stated. He however, called for sincerity on the part of government towards patronising made-in-Nigeria goods, rather than doing otherwise. The NCRIB President also urged Nigerians to be more patient with the present administration in fixing the economy through the various prudential steps and the ongoing war against corruption. Meanwhile, the Council, in its efforts to give further impetus to economic revival efforts of government has put forth the theme: “The Future Today” for its 2016 National Insurance Brokers Conference & Exhibition holding on Thursday, November 10, 2016 in Abuja. The theme is aimed at galvanising opinions on the shape and future of Nigerian’s economy and the roles of the insurance industry. The Chairman, Organising Committee, Dr. (Mrs.) Bola Onigbogi stated that the conference would be declared open by the Vice President, Prof. Yemi Osinbajo. To lead discussions at the

Confab, which would attract participants from the industry, organised private sector, the academia and government is the former Minister of State for Finance, Dr. Remi Babalola.

Also expected at the Conference are; the Minister of Budget and National Planning, Senator Udo Udoma, the Executive Chairman of Federal Inland Revenue Services (FRIS),

Dr.Babatunde Fowler; Minister of Health, Prof. Isaac Adewole; Managing Director, Financial Institutions Training Centre (FITC), Dr. Lucy Newman and a host of others.

PTAD Boss: My Vision is to Serve Pensioners with Respect, Empathy James Emejo in Abuja The Executive Secretary, Pension Transitional Arrangement Directorate (PTAD), Mrs. Sharon Ikeazor has said she’s committed to ensuring that the agency serves the pensioner with the upmost respect and empathy under her leadership. She said every pensioner should be able to live out the remainder of their lives in dignity and good health. The new PTAD boss further said the credibility of the payroll and database of pensioners remained an integral part of pension management and justified the nationwide verification of the pensioners under its scheme. Nevertheless, she said there’s need to boost existing working relationship with anti-graft agencies including the Economic and Financial Crimes Commission (EFCC) and Independent Corrupt

Practices and Related Offences Commission (ICPC) as the agency moves to sanitise the pension scheme which has had its reputation smeared recently by allegations of corruption within its top ranks. The Minister of Finance, Mrs. Kemi Adeosun recently suspended the former Executive Secretary of PTAD, Nellie Mayshak, over allegations of corruption which led to the involvement of the EFCC. Speaking in Abuja during a courtesy visit to the acting Chairman of EFCC, Mr. Ibrahim Magu, Ikeazor said the EFCC had been supportive and of great assistance during PTAD’s verification exercises, stressing that the presence of the anti-graft officials helped in warding off fraudsters from the verification centers. She said the EFCC’s had also been instrumental to the recovery of recovery of pen-

sion assets that are currently in the possession of Insurance Companies (Underwriters) and Defunct Boards of Trustees (BOT) of concerned Parastatals. She praised the progress made so far achieved in the collaboration and called for strengthening of ties. She said through the efforts of PTAD, the federal government is now able to estimate its monthly pension liabilities under the DBS more accurately to aid annual budgeting and resource allocation, among other feats. Furthermore, she noted that the agency was currently collaborating with the ICPC on the banking status of pensioners who are being currently paid. She added that a memorandum of understanding (MOU) had been signed to that effect and involved visiting the Head Offices of concerned banks and working with the chief inspectors of the banks.

T H I S D AY •THURSDAY, NOVEMBER 3, 2016

BUSINESSWORLD

E-BUSINESS

Outsourcing as Catalyst for Economic Growth Emma Okonji writes that Nigeria stands to benefit from the global business outsourcing process initiative, should government provide the enabling infrastructure and policies As Nigeria seeks diversification of her economy through alternative sources of revenue generation, the Business Process Outsourcing (BPO) and the Knowledge Process Outsourcing (KPO) sector presents a unique opportunity to achieve it and move the country away from the current economic recession. But to attain this feat, experts are of the view that considerable work has to be done in terms of policy, infrastructure framework, and legislation to effectively position Nigeria in the global outsourcing world. Presently countries like Ghana and Egypt have made significant infrastructure as well as policy investments that have greatly boosted the growth of this sector in their respective countries. Most recently, ACS services, a United States (US)-based managed services set up a BPO facility in Ghana to provide data entry services to the US insurance market. The Egyptian BPO sector is estimated to be $1 billion market while the South African BPO sector is currently valued at an annual $1.6 billion. There is need therefore, for increased government commitment in Nigeria to ensure that the country can be competitive in the international BPO/KPO market. To achieve this, there is a great need to have a harmonised and structured approach in determining what needs to be done to promote the BPO industry and achieve the clear socio-economic opportunities it represents. BPO initiative in Nigeria In order to encourage and promote BPO in the country, the Nigeria Association of Information Technology Enabled Outsourcing Companies (NAITEOC), a non-governmental organisation, was conceived and initiated by the Federal Ministry of Communications under the sponsorship and guidance of the National Information Technology Development Agency (NITDA) for the growth and development of BPO/KPO industry in Nigeria. According to the Chairman of NAITEOC, Mr. David Onu, the BPO/KPO industry is an emerging sector that represents $1 billion annual market opportunity for Nigeria with a clear potential to create a minimum of two million direct and indirect jobs in Nigeria within the next three years, replicating what has been achieved in such countries as India, the Philippines and most recently Egypt. He said the organisation seeks to promote and position Nigeria as an alternative BPO and KPO destination of choice to companies of the world over, seeking to outsource such back-end operations as contact center operations, software development, data management services, among others, to competitive alternative destinations

around the world.

Forum, Job Fair, and Education/Training.

Boosting BPO initiative In order to further encourage BPO/KPO initiative in Nigeria, NAITEOC, which has been promoting the initiative in Nigeria since its inception, is currently organising an International Outsourcing Conference, scheduled to hold between December 5 and 7, 2016 in Abuja with the theme: “Outsourcing-A catalyst for Change, Economic Growth, Job and Wealth Creation.” To move the agenda forward, the association is partnering the Office of the Vice President, Ministry of Communications, NITDA, The World Bank, Galaxy Backbone, among other stakeholders in organisng the outsourcing conference, which seeks to showcase the potentials of the Nigerian BPO/KPO industry to an international as well as domestic audience. According to Onu, the conference would further enable the socio-economic rejuvenation of Nigeria through the creation of new businesses and ‘demand-driven’ and ‘sustainable’ jobs for the teeming unemployed in the country. The conference is a three-day event and will include key components like Investment

Experts view Giving the importance of BPO to the Nigerian economy, experts are of the view that government needs to do more to improve Nigeria’s global competitiveness by building a harmonised business environment. It is imperative that this is extended to the Nigerian KPO/BPO environment where key stake holders in both the public as well as private sector can be aligned in achieving development, the experts said. They listed areas of possible alignment to include: available, affordable and reliable internet broadband and telephony services; access to affordable capital, which include debt and equity; legal framework that will protect data protection/privacy laws as well as other laws; infrastructure development like technology park and industrial clusters; regulatory policies among other areas. “There is a need for stakeholders both in the public and private sector to take bold initiatives that are collectively geared towards the growth of our industry. There is also need for such institutions as the Ministry of National

Planning, Ministry of Power, Ministry of Trade and Investment, Ministry of Finance, Bank of Industry, Central Bank of Nigeria, The sovereign wealth fund, among other institutions, to play deeper roles in the growth of the BPO/ICT space,” the BPO experts said. ICT Outsourcing Services The National Information Technology Development Agency (NITDA) held Nigeria’s first national outsourcing conference in August 2011. The event marked a major push by Nigeria to carve out space in the business BPO sector. The rationale behind this is clear. BPO firms are major employers in markets like India and the Philippines – a key consideration in Nigeria, where unemployment is on the increase. While BPO in Africa as a whole is more limited, countries like Morocco, Egypt and Ghana are working to gain a larger share of the global market. Onu, who is also the President/CEO of Interra Networks Limited, a BPO company, said with government support, BPO could become a key source of new jobs for young Nigerians in particular.

EutelsatPutsAfricaBroadbandProgramme Weco Systems Partners Veritas on Digital Back on Track Business Stories by Emma Okonji Eutelsat Communications and Yahsat, the Abu Dhabi-based international satellite operator, have signed a multi-year capacity agreement that will boost broadband development in Africa, and provide access to high-performance commercial Ka-band capacity for broadband services across sub-Saharan Africa. According to the terms of the agreement Broadband for Africa will use capacity of up to 16 Ka-band spotbeams on the Yahsat 1B satellite in order to roll out broadband services during the first half of 2017. Further expansion will be supported later in the year using capacity on 18 spotbeams on Yahsat’s Al Yah 3 satellite, scheduled for launch in early 2017.

Both Yahsat 1B and Al Yah 3 are equipped with high power spotbeams with Sub-Saharan African coverage, ideal for community and Direct-to-User Internet access using affordable, off-the-shelf customer premises equipment. For Eutelsat, the capacity will replace the payload previously contracted on the Amos-6 satellite which was lost in September following a launch pad explosion. The African Broadband service will be launched during the first four months of 2017, thereby enabling Eutelsat to revert to its initial business plan where it contributed immensely to broadband development. The Chief Executive Officer of Broadband for Africa, Laurent Grimaldi, said: “We are delighted to initiate this relationship with Yahsat and

to put our Africa broadband programme back on track. We fully share Yahsat’s conviction in the long-term role satellites will play in wireless connectivity and in the need for high-quality infrastructure to transform Africa’s broadband landscape.” The Chief Strategy Officer of Yahsat, Amit Somani, said: “We believe it is important for us to collaborate with our industry peers to drive our common goal of connecting individuals, businesses and governments around the world with affordable and reliable broadband services. We are delighted to have Broadband for Africa as a long-term customer on our satellites, laying yet another cornerstone in our expansion strategy and reinforcing the global trend towards higher efficiency Ka-band solutions.”

Weco Systems International Limited, a systems integration company has partnered Veritas, a multinational technology company to intensify the need for companies to adopt information protection solutions. Announcing the partnership arrangement at recent workshop in Lagos tagged: ‘Information Is Everything – Data Protection for the Digital Business’ recently, both companies said the business workshop provided deep dive sessions on data protection and information governance. The District Manager of Veritas in Nigeria, Tosin Odukoya, introduced Veritas as an information infrastructure company built on three pillars namely: Data Insight, Data Availability and Data Protection. He further gave tips to customers on how to stay ahead and on top of the evolving data protection trends and landscape.

The largest backup and recovery solution provider in the world (Veritas) team had the unique opportunity to engage with business leaders during the workshop which cuts across a wide range of public and private enterprises. According to Mr. Kehinde Poopola, a management staff at Veritas, who took the customers through the Veritas Data Backup and Recovery product offerings, said data protection has never been more in the forefront, as information is now the lifeblood and differentiator in a constantly changing world. He stated that Veritas Backup and Recovery solutions have the ability to unify and consolidate backup and recovery across physical, virtual, and cloud workloads, regardless of where the data is geographically located, whether on disk, tape, or in the cloud. He further stated that many

enterprise IT managers have discovered that by fully utilizing the power of a converged data protection platform, they uncover new opportunities to reduce the cost and risk associated with disparate data protection silos. He stated that Veritas being a single proven vendor that has the ability to support today’s needs and is architected for new workloads as they come online will reduce ongoing operational costs immediately while preparing you for tomorrow. Highlights of the workshop include the benefits of Veritas solutions to businesses. According to the team of experts from Weco Systems on data protection who were on hand to enlighten customers at the event; businesses globally are undergoing dramatic digital transformation that is forcing IT leaders to rethink what data protection means.

T H I S D AY •THURSDAY, NOVEMBER 3, 2016

BUSINESSWORLD

E-BUSINESS

Srivastav: Nigeria Needs IT Skills to Boost Technology Know-how The chief operating officer, iSON Technologies, Rahul Srivastav, spoke with Emma Okonji on how the firm is leveraging technology to support businesses in Nigeria and on the African continent. He also spoke on the need for Nigeria to invest more in information technology skills development. Excerpts: In less than five years, iSON has used technology to support businesses in Nigeria and other African countries. What is the fundamental vision of iSON technology in Nigeria? The iSON Group philosophy rests on two pillars of success – bringing y internet protocol (IP) to work and not taking work to IP, which means we bring experts to countries we have footprint, especially sub-Saharan Africa. We do not take work to foreign destinations. These experts have a time frame to perform their tasks and more importantly train local talents who must within a minimum period take over the functions. These twin benefits of local empowerment and upskilling have favorable ripple effects of economic development as other ancillary industries are established around our businesses and crucial local reserves such as financial and otherwise are retained within the individual countries of our operations. Could you give a brief overview of how iSON Tech has been able to drive technology since its operation in Nigeria iSON has led partner enablement initiatives for the leading global product companies like Huawei, AVAYA, Oracle, IBM. These product companies have been enabled in 17 countries in sub Saharan Africa for Telecom, Customer Experience Management, Oracle Solutions and Managed Services respectively. What is the greatest challenge in ensuring that Africa dominates the technology space? Africa has a lot of vast wealth especially in sheer population of vibrant talented and educated youth above the average of their counterparts in most continents. The major limitation is however in lack of Technological know-how, which although is on the rise but still in its nascent stage. How can we drive Africa’s technology system to make it comparable to those in more developed markets? A lot of factors will be in play to enable this happen, most of which is leadership support at various stages of governance, to pay topmost premium to quality education in the field of Science, Technology, Engineering and Mathematics (STEM). What are the biggest challenges in doing business in the African region? This would differ from one business to the other. In our line of business, the key limitation is technology know-how and the obvious solution to that for us, is talent upskilling which we are passionate about and utilize a lot of our resources to ensure for the development of the African continent. In addition, physical and trade connectivity, availability of supply chain professionals and an individual financial infrastructure for every country, including adherence to tax compliances, and statutory compliances, sum up to the leading challenges of doing business in Africa. A lot of companies are facing recession in Nigeria, and despite the downturn, iSON Technologies has maintained a healthy business in the country. How is iSON coping in all of these? As an IT service company, our value proposition is our hub-based delivery model to cater to sub-Saharan Africa region. We cater to east African countries like Tanzania, Uganda, Rwanda through our “Kenya” hub, but West Africa is catered for through “Nigeria” hub and similarly francophone countries are serviced through “DRC”hub. In addition to people, process and technology, being the

Srivastav

platinum partners for Oracle, AVAYA, Huawei and IBM, we add value while offering IT

In our line of business, the key limitation is technology knowhow and the obvious solution to that for us, is talent upskilling, which we are passionate about and we utilise a lot of our resources to ensure quick development of the African continent

services in the region. We also emphasise on strategic alliances as part of our future growth plans, which informed the business decision to acquire GTS, a subsidiary of ENOC in the UAE, about a year, to strengthen our Oracle capabilities and widen our geographical spread. In addition our investment arm i3 is focused towards supporting technology companies in the region and has invested in Mondo which competes with Uber in Kenya. In addition, investments have been made in Ocharge, a digital mobile recharge company in Kenya that offers value to the end- customer for every mobile recharge done through its platform. No doubt, capacity is extremely important in driving growth and expansion, in your opinion how can we attract the best technology oriented staff to companies? Recruiting top talents into a company workforce depend on the same parameters whether it’s an IT, Telecoms or Consulting firm. A company that remunerates well both financially and otherwise, provides an enabling environment for meritorious growth, is passionate and fair about the opinion of its staff regardless of level, appreciates and rewards innovation and viable ideas, among others, will always be a sought after by top prospects and head hunters alike. What are the challenges iSON Technologies is faces in the Nigerian market?

Inadequate infrastructural development, unavailability of existing IT talents on a large scale, economic instability, government fiscal policies, among others, are some of our current imitations. There is need for economic stability and review of the country’s fiscal policies. Every investor is looking up to good policies that will protect their business. How can the government ensure that it creates a conducive environment for businesses like yours to thrive and also strongly impact their host communities? Government intervention in terms of provision of infrastructure, which is the backbone of quality IT delivery, premium on IT education at all levels including grassroots, to properly project the potentials of IT as the pathway to the future for people. Tax holidays in certain areas, are some of the helpful ways to grow the IT business and its communities. Some aspects of the business environment, such as the legal system, for example, or corporate tax rates, affect all industries. A conducive business environment will affect competition in three broad ways: first, by increasing the productivity of companies based in the area; second, by driving the direction and pace of innovation, which underpins future productivity growth; and third, by stimulating the formation of new businesses, which expands and strengthens the location itself.

T H I S D AY •THURSDAY, NOVEMBER 3, 2016

BUSINESSWORLD

E-BUSINESS

Glo Unveils New Product Offerings to Boost Customer Experience Stories by Emma Okonji In line with its commitment to continually empower its subscribers with affordable and innovative telecommunications products and services, Globacom has launched four new products, Glo Borrow Me Data and three other existing products. Globacom’s Head, Usage and Retention, Mr. Sola Arowogbadamu, who announced this at a press conference in Lagos, emphasised that all the four products offered benefits unmatched in the telecom industry, adding that three of the products which were repackaged following their success and appeal in the market included, ‘Double Free Tomorrow, 11k/s for All, and IDD Packs. He said that the new product, Glo Borrow Me Data, would allow subscribers to borrow Data credit of up to 2GB whenever their data bundles are exhausted and they have no airtime balance to recharge their data plan or in cases of unsuccessful subscription bundle activation due to low balance. Arowogbadamu further stated that eligibility criterion for the offer included how long a customer has been on the network and average monthly data usage, stressing that customers could subscribe to Borrow Me Data by dialling *321# and following the menu options and that the service would then push real time Data credit to all eligible subscribers in line with the stated eligibility

criterion and the customer will repay the Data credit whenever airtime recharge is made. He said: “The next offer, Double Free Tomorrow, gives back to the subscriber 200 per cent of whatever is spent on calls, SMS or data today to use for free the next day. In the re-loaded offer, Globacom calculates all the value of airtime a subscriber used in a day for internet services, phone calls and SMS, and credits the subscriber’s phone with double this value at the start of the next day. The offer will now be available as default for all new customers activating a Glo line. “Effectively, this means that subscribers will now receive back, the following day, double the airtime used in a day for calls, internet browsing and SMS.” Arowogbadamu also said that the bonus could be used for browsing or calls and SMS to Glo and non-Glo lines and that the bonus would also be used for International calls to popular countries such as US, UK (fixed), Canada, China and India. “The offer is open to all existing and new prepaid customers on the Glo network and other subscribers who crave good value for money. “With Glo Double Free Tomorrow, customers get back double benefits free the next day. In other words, when they spend more today, they get much more tomorrow. For instance, if a subscriber on the Glo network uses N500 credit in a day on calls, SMS and data,

Phase3 Telecom Assures CustomersofQualityServices Phase3 Telecom, an independent aerial fibre optic infrastructure provider, has assured customers of quality services, just as the company marks its13th year anniversary in telecoms service offerings. Chief Executive Officer of the company, Stanley Jegede, said over the past 13 years, the firm has weathered the storm and it is well prepared for the next phase of the telecoms revolution in the country, with plans to provide better customer experience. According to him, “While Phase3 is not oblivious of Nigeria’s current economic situation and shift in focus to meet the needs of a rapidly growing and evolving population especially in the area of delivering much more accessible connectivity needs, we are very grateful that 13 years of service excellence has prepared us for a smarter strategic aptitude, refined thought processes and an unequalled team resilience that is now first nature to us.” Jegede added that the firm was spurred to act proactively by its successes record and rewards including an ever growing client portfolio, secure product package migration, serving the client more as an integrator; cross sector investment opportunities, joint ventures and partnerships that will see it conquer new horizons. He said the firm remained undeterred by current chal-

lenges and firmly prepared to cushion the adverse effect of the market’s uncertainties through existing cost effective and new services designed to meet telecom infrastructure and broadband services demand. “That the company’s balancing act is directed towards entrenching the values of reliability, creativity and excellence, which its brand name is synonymous to. These form the crust of the key objectives of its 13th anniversary and outlook for West Africa in 2017,” he added. He expressed gratitude to God, stakeholders, well-wishers as well as the firm’s team of smart, resilient, creative, vibrant, dedicated and intelligent women and men who are committed to building a model powerhouse - a team solidly focused on achieving the vision of its founders and success of its clients, while riding on the strength of its partnerships to help people and businesses go further, faster and achieving sustainable economic progress in 2017 and beyond. The company, which began operations in 2003, had pioneered optic fiber services on power lines to provide backbone and broadband services that is currently driving Nigeria’s telecoms revolution. Phase3 has extended its reach beyond Nigeria through its partnership agreement with the Economic Community of West African States (ECOWAS).

Glo will give back N1,000 credit to the subscriber the very next day to call all networks, SMS and browse free. To enjoy the service, subscribers are to dial *600#,” he stated. He added that the third offer, 11k/s for All, was the best prepaid plan in the Ni-

gerian telecoms market with a simple flat tariff plan which allows customers enjoy heavily reduced call rate on local and international calls. He said, “Under the plan, calls are charged at 11k/s to all local networks and for international calls to 30 top

destinations. The destinations include United Kingdom, United States, Canada, South Africa, India, South Korea, Spain, Sweden, China, Hong Kong, Japan, Israel and Australia. Others are Bangladesh, Brunei, Cyprus, Denmark, Finland, French Guiana, Guam, Lux-

embourg, Malta, Mongolia, Mexico, Netherlands, Norway, Puerto Rico, Reunion Island, Romania and Singapore. The new and existing customers can enjoy the call rate which comes at a daily access fee of N5 by dialling *211# to migrate to the plan.

LUCKY WINNER

L-R: Regional Retail Head, Lagos & South-west of First City Monument Bank (FCMB) Limited, Funmilola Paseda; Regional Head, Lagos of the Bank, Mrs. Bukola Smith; one of the winners at the third draws of the ‘’FCMB Millionaire Promo Season 3’’, Mr. Gabriel David of the Nigeria Police Force; Zonal Head, Ikeja 1, FCMB, Mrs. Rafat Mohammed and Group Head, Retail Liabilities Product, Mr. Shamsideen Fashola, during the Regional draws of the promo in Ikorodu, Lagos…recently

HP Targets Millennials with Rack Centre Achieves ISO/ World’s Smallest All-in-One IEC 27001: 2013 Security Printer Certification Heller Packard (HP) has unveiled its next generation DeskJet All-in-One printer, while targeting to meet the social needs of the youths and Millennials, through the latest printer. Called HP DeskJet 3720 model, the printer is designed for digital natives who want to print from Facebook, Instagram, using their mobile phones. The new HP printer is half the size of other inkjet all-inone printers in its class, yet combines robust print, scan and copy capabilities with easy mobile setup and features at an affordable cost. The redesigned DeskJet HP Instant Ink-ready printer offers the easiest printing from a smartphone or tablet. The HP DeskJet 3720 does not just optimise space, it energises space in a vivid electric blue colour. Managing Director HP Nigeria, Mrs. Ify Afe, while speaking during the live demo of the DeskJet All-inOne printer at the media launch of the printer, stated that “Consumers crave tiny, wireless devices that fit into their lifestyle that will enable them to stay connected, social and productive wherever they may be.” She further stated that “HP’s new DeskJet turns the traditional consumer printing experience on its head with its innovative, fun design and intuitive mobile connectivity from virtually any device or social network.” While reiterating that HP is all about reinventing, in-

novating and creating new possibilities with technology and this new deskjet All-in-one highlights innovation, speed, performance and power of digital printing. Additionally, HP offers customers around the world the broadest portfolio of digital printing solutions ranging from the world’s smallest home printer to the world’s largest printing presses, enabling every form of printed output from photos and documents to packaging and building wraps. “Setting up and printing directly from a mobile device has never been easier with in OS solutions and the HP All-in-One Remote mobile application. The free app provides users with key features including printing, copying and scanning wirelessly from most smartphones and tablets including Apple, Android and Windows devices. Using Wi-Fi Direct, consumers can immediately begin printing from their mobile devices and access their printer without a network,” Afe said. According to her, consumers can print, share and design custom photos from Facebook, Instagram and Flickr or directly from a phone’s camera roll with the free HP Social Media Snapshots application. HP also offers fun 4x5 sticky photo paper tailored just for the Social Media Snapshots app and perfect for decorating a bedroom, locker or sharing with family and friends. Using HP Printbot, Facebook Messenger users can print content effortlessly from a Facebook Messenger conversation.

Rack Centre, which offers carrier-neutral colocation services through its Tier 111 Data Centre operations, has obtained the global ISO/ IEC27001:2013 certification for an Information Security Management System(ISMS). The ISO/IEC 27001:2013, an ISMS is considered as the most rigorous global standard for information security and confirms that an organisation has put in place best practices for information security processes and is ensuring data integrity, confidentiality and customer asset safety. Managing Director, Rack Centre, Mr. Ayotunde Coker, while announcing the feat, said: “Achieving certification of this standard shows that Rack Centre is committed to assessing and managing security risks and managing sensitive data. Our ISO/IEIC 27001:2013 certification is enterprise wide and was achieved after a seamless process as indicated by the Assessors. We are delighted with the formal certification to this global standard which affirms that Rack Centre stands for excellence and industry leadership in all its activities.” Working in conjunction with Deloitte, Rack Centre was certified after a rigorous auditing of the facility and entire business operations by the British Standards Institution (BSI), the global standard body. Deloitte, the leading professional services network,

provided consulting, implementation and certification advisory to Rack Centre during the meticulous ISO/ IEC 27001:2013 audit with BSI. Managing Director for BSI Middle East and Africa, Theuns Kotze, in congratulating Rack Centre, said: “It had fulfilled the requirements of this distinguished certification and recognise the advantages of implementing an Information Security Management System for itself, the stakeholders and its customers. Rack Centre has clearly demonstrated that it operates to a global level of excellence.” The Chief Strategy Officer and Cyber Security Leader, Deloitte West Africa, Tope Aladenusi, congratulated Rack Centre on the achievement, pointing out that, “Deloitte has supported Rack Centre to further enhance a culture centred on security which made it easy for it to go through the audit. The focus on knowledge transfer throughout the engagement was thorough and all members of the core team and stakeholders were carried along throughout the project.” The implementation focused on developing an overall risk and information security framework that aligns with Rack Centre’s business objectives and helped to further fortify its data centre and enterprise Information Technology (IT) operations to be secure, vigilant and resilient.

T H I S D AY • THURSDAY, NOVEMBER 3, 2016

BUSINESSWORLD

ICT-SQUARE

Dell Ultrabook 2016

MICHAEL MICHAEL OKEKE OKEKE

he ultra-thin Latitude 7370 notebook is a powerful classic device, with a frameless Infinity Edge display, Core-m processors and passive cooling, the Latitude 13 7370 is Dell’s new interpretation of a classic business notebook. The first enterprise-focused laptop arrives with a number of work-friendly features in tow. Featuring a near-bezel-less 13.3inch InfinityEdge display, the XPS 13 has the dimensions of an 11-inch laptop. A win for both productivity and portability, the innovative display tech has since been ported over to Dell’s revamped XPS 12 and XPS 15 devices. As its competitors play catch-up, Dell is now looking to replicate the XPS 13’s success in the business space with the Latitude 7370. Efficient Ultra-Low-Voltage processors have managed an impressive level of performance over the last few years: Even full-fledged multimedia notebooks with 15 and 17inch screens often use such chips by now to manage a particularly slim construction. Still, extremely slim Ultrabooks or 2-in-1 devices need even more frugal CPUs – this is where Intel’s Core-m series comes into play, which can be cooled passively. Dell’s Latitude 7370 is one of the few business notebooks with such a Core-m processor. The fanless 13-inch device does not only aim to impress in terms of mobility and emissions, but also comes with pretty nice features.Design The Latitude 7370 is hardly flamboyant in design and is even more demure. Featuring a sensible blend of materials and colours to appeal to its business audience, the laptop is clad in various stealthy shades of silver, grey and black. Even at a first glance, the Latitude 7370 is already impressive with its extremely slim and compact construction. The height of the case is just 14.3, so it is just one millimetre (~0.04 in) thicker than an Apple MacBook 12. Almost even more impressive: The footprint is almost exactly identical to that of the Lenovo ThinkPad X260, even though

the latter has a smaller 12-inch display. This is a result of the extremely slim display frame of the Latitude, which is also called “InfinityEdge” by Dell. Notwithstanding the quite delicate construction, the chassis is impressive with its excellent stability. A complex mix of materials including carbon fibre and aluminium provides the highest torsion resistance, which is also the case for the very slim lid (in this case with an aluminium cover, touch-screen models get carbon fibre). It is held in place by conveniently taut hinges, which require both hands for opening, but hardly bounce, even with strong vibrations. Considering the high price, you can expect a flawless build quality, which is – at least in the case of our review sample – delivered by Dell: Careful material transitions and evenly rounded edges confirm good quality control, and gentle soft-touch surfaces create a very sophisticated impression. Unfortunately, the surface is susceptible to dirt and not easy to clean; fine dust in particular sticks to the base unit. Display The appealing InfinityEdge display of the Latitude 7370 has either 1920x1080 (FHD) or 3200x1800 pixels (QHD+). The latter is exclusively available with a touch-screen and should be glossier than the matte in this week review, despite the anti-reflective Gorilla Glass surface. The enormous pixel density of the QHD+ version – 276 instead of 166 PPI – also requires scaling of the picture by Windows, which can still be a problem with older software. It seems that Dell is using an automatic brightness and contrast adjustment based on the picture content to reduce the power consumption. Sudden changes, such as the switch from a very dark to a very bright picture, for example, result in a stepwise adjustment of the luminance within 5 to 10 seconds, which is also visible with the naked eye. To dim the screen, some notebooks will simply cycle the backlight on and off in rapid succession - a method called Pulse Width Modulation (PWM).

This cycling frequency should ideally be undetectable to the human eye. If said frequency is too low, users with sensitive eyes may experience strain or headaches or even notice the flickering altogether. Performance Efficient Ultra-Low-Voltage processors have managed an impressive level of performance over the last few years: Even full-fledged multimedia notebooks with 15 and 17inch screens often use such chips by now to manage a particularly slim construction. Still, extremely slim Ultrabooks or 2-in-1 devices need even more frugal CPUs – this is where Intel’s Core-m series comes into play, which can be cooled passively. Dell’s Latitude 7370 is one of the few business notebooks with such a Core-m processor. The fanless 13-inch device does not only aim to impress in terms of mobility and emissions, but also comes with pretty nice features. Rivals for the Latitude 7370 include the Lenovo ThinkPad X1 Carbon and the ThinkPad X260, the HP EliteBook 1040 G3 and the Folio G1 as well as the Toshiba Portege Z30-C, although only the HP Folio is also passively cooled. Even though by default the Terminal Design Power of the Core-m-series is 4.5 watts, notebook manufacturers can actually adjust the parameters for the

permissible power consumption and the behaviour of the Turbo Boost. Dell has increased the permanent maximum consumption to 5.5 watts in this case, but pretty much deactivated the short-time Terminal Design Power exceedances in return which are usually possible. This configuration reduces the power consumption and the temperature development. Connectivity While comparable modern ThinkPads do not offer even one USB Type-C port, Dell goes a step further and has equipped the Latitude 7370 with two Thunderbolt 3 ports. With 40 Gbps each, they are not only a lot faster (USB 3.1 Gen. 2: 10 Gbps), but also much more versatile: They support not only USB devices with the corresponding Type-C jack, but also Display Port (two 4K monitors at 60 Hz per port, up to three monitors in total), DVI, HDMI, VGA or external PCIe-devices via adapter. The Ultrabook is also equipped with a standard USB 3.0 port (Type A), microHDMI port as well as the mandatory headset jack. Overall, the port selection is very comprehensive and future-proof, but you will most probably require several adapter cables along the way – there are just (still) too many peripherals with a USB Type-A connector right now. The Latitude 7370 is equipped with 802.11ac WiFi and dual-stream technology.

Bluetooth 4.2 is supported as well. The Latitude 7370 can also be equipped with an optional Tri-Band module Wireless-AC 18260 (incl. WiGig) as well as an LTE modem from Qualcomm (Snapdragon X7). Keyboard and Touchpad The keyboard has a white illumination and is well-integrated into the matte-grey chassis. The letter keys are 14 x 14 millimetres and can be comfortably used with 10 fingers. The travel is comparatively generous for a subnotebook, which results in a great feedback and a fast typing speed in combination with the firm stroke. The quality of the keyboard leaves a great impression in general, which is supported by the restrained noise development as well as perfect stability, even in the centre area. It is rather unusual for a business notebook, but the Latitude 13 does not have a TrackPoint, so you can only use the touchpad. Fortunately, Dell has dispensed with the integrated mouse buttons and implemented two dedicated buttons underneath the pad. Drag & Drop inputs, in particular, are therefore much more reliable compared to some competitors, and ClickPads usually do not have such soft and well-defined pressure point, either. Webcam and Microphone As usual, you should not expect a lot from the integrated

HD webcam in terms of picture quality – the pale and noisy pictures from a slightly unusual position (the sensor is not above but below the display) are only sufficient for simple video chats. At least, users get a very decent array microphone, which can also replace a headset if necessary. Security The Latitude 13 is a full-fledged business device equipped with all the security features you would need in professional environments. Among others, it includes a TPM, a fast touch fingerprint scanner, NFC as well as a SmartCard reader. The 7370 is also prepared for Computrace, a technology to prevent thefts Closing An almost bezel-free display, passive cooling and Thunderbolt 3 ports – the Dell Latitude 13 7370 definitely stands out from the boring mainstream business notebooks. The Ultrabook does not have to fear many competitors in terms of mobility and quality and convinces with flawless build quality, excellent stability, and firm input devices. Dell has implemented a very decent panel with a powerful background illumination. The performance and functionality of the Core-m platform and processing power is a brilliant. Michael.okeke@thisdaylive.com

THISWEEK ON GADGETS INNOVATIVE CONSUMER PRODUCTS Aimed at further raising the standard in innovative technology as well as providing consumer with satisfying as well as healthy and environmental friendly products, LG technology is introducing a 10-year warranty on some of its consumer products. First of its kind in Home Appliance category in Nigeria, the products with 10 years warranty include the Refrigerators with Inverter Linear and Smart inverter compressors, Chest Freezer, Washing Machines with Inverter Direct Drive Motor, Charcoal Lighting heater in charcoal microwave and Cordless vacuum cleaner with smart inverter motor. General Manager, Home Appliances Divi-

sion, LG Electronics, West Africa operations Mr. Hyunwoo Jung commenting on this feat said: “At LG, we understand that durability is just as important as strong performance. A large range of our products are backed

by 10-year warranty, ensuring worry-free operation year after year. LG Electronics is the first electronic brand in Nigeria to offer a decade-long warranty of reliability on a large gamut of its product offerings. The 10 year warranty offering covers only specific parts of the selected products from the date of purchase”. LG’s revolutionary Inverter Linear Compressor which enables the refrigerator to consume 32 per cent less energy and produce 25 per cent less noise. Employing a linear piston drive instead of a conventional reciprocating drive, LG’s advanced Inverter Linear Compressor generates less internal friction than other compressor systems. The reduction in friction results in lower energy requirements and noise production

as well as greater reliability and durability for the compressor due to the reduction of friction points. The Inverter Linear Compressor creates an optimal temperature balance inside the refrigerator, helping extend the amount of time that food stays fresh. The LG game changing Smart Inverter Compressor technology has set a new standard in the industry helping to make lives smarter and better. It has taken a revolutionary leap in compressor technology. The smart inverter compressor is one of the most advanced and energy efficient compressor. It automatically adjusts its speed to deliver cooling to match the quantity of food inside the refrigerator. Michael.okeke@thisdaylive.com

9 T H I S D AY •THURSDAY, NOVEMBER 3, 2016

BUSINESSWORLD

CONSUMER

NBC Rekindles Hope via Campus Recruitment Drive Raheem Akingbolu writes on how the Nigerian Bottling Company’s campus recruitment drive can inspire excellence among Nigerian undergraduates After going through the rigorous tertiary academic exercise for 4 - 5 years or 7 years for medical students, it is the hope and aspiration of every single graduate to secure a good job immediately after their graduation and upon successful completion of the compulsory one-year National YouthService Corps (NYSC) programme.In the 70’s and early 80’s, it was almost automatic for graduates to get jobs after graduation. In some cases, some of them might have about 3 to 4organisations to choose from and may have to seek guidance from other experienced individuals to make the right choice. History has it that companies, including multinationals and blue-chip organisations usually fall over themselves trying to recruit the best of final year students in tertiary institutions butit seems the reverse is now the case. Many Nigerian undergraduates especially those in their final year now live in the fear and uncertainty of what would become of them after leaving their respective institutions of higher learning, as many who graduated before them are still in the labour market searching for a job. This has been identified as a very severe challenge in the country’s youth development and engagement system with no long-lasting remedy over the years, as the country’s unemployment rate skyrockets to 13.3% in 2016, according to the National Bureau of Statistics (NBS). NBC intervention Just when it seems like all hope is lost, the Campus Recruitment Drive of the Nigerian Bottling Company Limited (NBC) is rekindling hopes of Nigerian undergraduate and inspiring them to strive for academic excellence and have a unique opportunity of building a world class career in a world class environment like NBC, a member of Coca-Cola Hellenic Bottling Company. Being the bottler of the global iconic brand- Coca-Cola, Nigerian Bottling Company Limited (NBC) remains one of the major organisations that is a great place to start and grow a successful career by Nigerian undergraduates. The NBC Campus Recruitment Drive started over a decade ago and is aimed at providing a unique opportunity for undergraduates who are highfliers and are passionate about building a world-class career in a world-class organisation. This initiative has also been identified as a unique platform to attract the best and to support the Company’s transformation agenda into 2020 andbeyond. One of the key factors to realising that vision of the company is human resources (people) that would drive the vision. The 2016 NBC Campus Recruitment Drive events were held in some Nigerian universities - University of Benin, Edo State (UNIBEN), University of Lagos (UNILAG) and Ahmadu Bello University, Zaria (ABU). Themed – Careers with NBC & Life Success after Graduation, the event witnessed large turnout of students from various faculties and provided an opportunity for students to interact with top management executives from NBC, as well as to learn about the company and its well-loved brands. Plan for expansion Not relenting, the company has said that this is just one of the many ways it intends to contribute to the development of youths in Nigeria, promising that it would continually invest in the development of Nigeria’s human resource capacity through various initiatives in order to attract and retain the best quality of individuals available across the country. NBC’s Public Affairs Manager, East & Central Region, Mr. EkumaEze revealed that the Company is expanding the capacity of its production facilities in order to meet up with the demands of consumers and the resulting market growth. “Currently, there is a need to inject new talent and employees to drive the actualisation of NBC vision; hence a great opportunity the Career Fair offers for undergraduates to join NBC after fulfilling

Polymenakos

necessary academic requirements expected for their various degree programmes”. Speaking during one of events, held at the University of Lagos (UNILAG), NBC Public Affairs Manager, Lagos and West Region, IfeomaOkoye explained that the NBC Campus Recruitment Drive is conceptualised to attract, retain young talents and groom them to attain the highest height of their chosen career. She stated that the platform is designed to prepare and empower students with the basic knowledge required to cope with the demands of a standard working environment. While engaging the participants in the institutions of higher learning, NBC Talent Resourcing Manager, AyodeleOlowosejeje,

History has it that companies, including multinationals and blue-chip organisations usually fall over themselves trying to recruit the best of final year students in tertiary institutions butit seems the reverse is now the case

Morgan

stressed that the Company is committed to welcoming new talents, developing employees and engaging people from outside as part of its organisational renewal. Top ranking officials from the universities, commended NBC for bringing the career expo to their institutions, and that their students were privileged to benefit from the magnanimity of the Company’s noteworthy gesture. All the Deans present at the various career expos acclaimed that, NBC would be a great place for the graduating students to start and grow a fulfilling career, after fulfilling necessary academic requirements for their various degree programmes. Equal opportunity As an equal opportunity employer, NBC promotes diversity and sound workplace practices, providing livelihood to many in its value chain. The NBC Campus Career Expo is aimed at engaging young talents in different institutions of higher learning across the country and offers them great opportunities to build their career. As a sign of confidence in the country’s educational system, NBC has continued to make strategic investments in improving the standard of basic education, while positioning itself as an employer of choice. Another noteworthy initiative of NBC in getting the best as part of its people is the Company’s Management Trainee Scheme, which is part of Coca-Cola Hellenic’s strategic focus around talent acquisition and development. NBC therefore recruits the very best into its management trainee programme, where young talented individuals are selected after a series of rigorous assessments based onspecific selection criteria. In addition to encouraging and driving excellence amongst students and university undergraduates, NBC is also fully committed to supporting the Nigerian youths at different levels, starting from the primary and secondary levels, up to the tertiary and vocational levels, to become self-sufficient and develop their entrepreneurial mindset. The Company’s youth empowerment initiatives

have reached tens of thousands in the last five years. All of which have received numerous commendations at different times from various stakeholder groups, including awards from the Lagos State Government ‘Support our School Initiative’. Nigerian Bottling Company (NBC) Ltd is the franchise bottler and distributor for The Coca-Cola Company in Nigeria. The company was incorporated in November 1951 and is a member of Coca-Cola Hellenic Bottling Company A.G, an anchor bottler for The Coca-Cola Company in 28 countries in North, Central and South Europe, Asia and in Africa, with over 570 million consumers in these markets. As the pioneer bottler in the group, NBC prides itself as the bedrock of Coca-Cola Hellenic. NBC is headquartered in Ebute-Meta, Lagos and operates 11 bottling plants, 28 commercial territories and over 50 distribution depots across the country. Chairman, Nigerian Independent Tobacco Association (NITA), Mr. Rasheed Bakare, assured BATN of the association’s compliance with child labour policy and dedication to child education and expressed its determination to completely root out child labour in its members’ operations. He also commended BATN for its pursuit of child labour compliance and immense support, while also imploring government to resist calls to withdraw support for tobacco farmers, who he said also cultivate other crops apart from tobacco. The highpoint of the occasion was the distribution of sprayers, bags of NPK and KNO3 fertilisers to a total of 283 farmers for child labour policy adherence and other best practices. No doubt, the keen competition that the awards engender among farmers will serve as an incentive for tobacco farmers and other farmers to sustain the policy and also spur government to show greater political will to eradicate child labour in the country. These tobacco farmers have shown that child labour is not required in their farms, thus defeating the age-long notion that children must work in their parents’ farms in order to sustain the family’s income and livelihood.

T H I S D AY •THURSDAY, NOVEMBER 3, 2016

7BUSINESSWORLD

ADVERTISING

Agenmonmen: Repositioning

The

Marketing

Profession

Needs

After 32 years in Nigerian Breweries Plc, Mr. Tony Agenmonmen bowed out gracefully recently as the brewer’s senior strategy manager. In this interview, he shared his experience and his determination to replicate his successes, if elected to lead the National Institute of Marketing of Nigeria. Raheem Akingbolu presents the excerpts: You spent over three decades in Nigerian Breweries, what was the experience like? From any angle one chooses to look at it, I will say it was exciting and challenging. If I have to live a work-life again, I would love to live a life of a marketing man, the challenges that come with it notwithstanding. Obviously, working in such a big company and building some of the biggest brands in Nigeria comes with challenges and fun. I remember the great works we had to do on Star to bring it to where it is today; same with Legend that was taking from where it was to be a big challenger in the stout market. I remember a lot of activations such as Megajams, the Gulder Ultimate Search and all the attendant challenges. It was fun and challenging, I enjoyed a lot of it because it was fun and I benefited immensely from the experience. At a time when you were supposed to retire to your home, you have decided to take up another challenge by vying to lead the National Institute of Marketing of Nigeria, NIMN. What inform this decision? When I retired from Nigerian Breweries, I made it pretty clear that I was not going home to relax finally. Coming to the National institute of marketing of Nigeria to head it is not sudden. It is something that has been a burning desire for sometimes now to contribute my quota to the development of the institute. I believed the few things that we have been able to do for those brands could be replicated in repositioning the institute. The institute appears to be a bit colourless not only in terms of its role but also in reckoning in the league of other professional bodies, What plan do you intend to bring to bear to change that perception if you eventually emerge to lead the institute? I must confess there is really nothing on ground per say. We really need to start afresh. If I were to evaluate the situation using the proper marketing language, I would say the equity of NIMN is weak. But all the great marketers know that that in itself is not something for you to throw up your arms in surrender. The brand is there, same with the people and the resources. All that is however required is to replicate what we did in turning some product into great brands in the institute. At least we have managed brands into greater height. I remembered that at appoint star was in the number one position. So, if we can turn Legend which was nowhere to a big challenger in the market, turning the institute around for me with great professionals around us, for me is a piece of cake. I don’t see anything stopping us from achieving that dream. What we need to do is to find out what has been lacking, particularly with the quality of people around who are vying to contest in the council, I am sure that in no distant time, you will be very proud of NIMN.I can sure by the time we finished, we would not be talking about an institute that is not known. We actually really want to play in the “champion’s league.” You are coming from a private sector background where things seem to work differently, how prepared are you to contend with a system that seems to be driven with a public sector mentality? It is important for me to dwell more on the equity challenge .I think part of addressing the equity challenge of the various stakeholders is to look at whether each of them have anything they can look forward to in the institute today. For me, the answer is no. Let us start with the students in various tertiary institutions studying marketing. We have not offered them anything. We don’t give

Agenmonmen

them any assistance in terms of training. We do not organise programmes where they can come in, listen and learn. From experienced marketing professionals. If I looked back, when we were in the university, the most attractive thing we used to talk about then was to say, this is my association. Each department in our various institutions has their own and you are very happy to be part of it. Today, I don’t think that sense of pride exist among marketing students. So, we want to build that pride back into the system. We want to do it in such a way that they are proud to be members of this institute. Besides, look at the million of marketing professionals

If I were to evaluate the situation using the proper marketing language, I would say the equity of NIMN is weak. But all the great marketers know that that in itself is not something for you to throw up your arms in surrender

working in different sectors of the economy, what are we giving to them? The answer is we are not giving anything. We want to restore the glory such that our AGMs become a sort of carnival where professional from different part of the country come to witness. But if people don’t believe in the institute, they would not come. If you have to travel from far and wide to attend such function, it has to be worth a while. So, we need to give them a value proposition. In the past, the backbone of the institute used to be corporate organisation, if I may ask, what are we giving them? For me, I think we should be at the forefront of delivering quality marketing professionals. And for those of us who have long around, if you ask what is the most difficult challenge affecting companies is getting quality marketing hands to work on their brands. For me, NIMN should be at the forefront of driving professionalisms with that experience and we intend to do that. Coming to the issue of civil service mentality, I think it is about change management. I think the people that would probably be most affected are the staff that are used to the old ways of doing things. However, what I keep telling people is that would you prefer to come to work every day, sitting down reading newspapers and at the end of the month, your salaries are not paid .Or you wake up in the morning, looking up to a great day at work. At the end of the day, your salary is paid and you are happy. I am inclined to believe that there is nobody who just wants to go to work and lazy around. We are going to bring an attitude that would engender both challenges and fun in the institute. How do you intend to tackle the challenge of other agencies that appear to be usurping the powers of the institute most especially

the lottery board? For me, my attitude to such issue is not about any confrontation. You don’t win battle like that by just sheer bravado. I think we will need to sit down with them, because I believe most of the issues they are raising are borne out of misunderstanding. I remembered that at a time I was also involved when the lottery board said consumer promotion is lottery. To get it clear, consumer promotion, all over the world, is a basic marketing function. For me, we need to sit the lottery board down and educate them so that they will know what it is all about. I will ensure that the issues are resolved such that our member companies can embark on consumer promotion without any fear of molestation Now talking about making changes in the institute, it is important to state that I have been an integral part of the institute for many years. You would recalled that I contested for the position of president few years ago .Even though I lost, I was called upon to contribute my quotas in some of the committees. And when the position of the Second vice president was vacant, I contested and won. Since then, I have been making my input. I think at the national level, marketing can also be embraced if we follow the principles and get marketing ideas into the consciousness of our political leaders. If they can run a few of their programmes with marketing consciousness, the country will be better for it. But on our part as an institute, we need to get our act together before we can get into relevance of any national discourse. What is the philosophy behind this campaign? For me, transparency and integrity will be watchword. In the next two years, we intend to take the institute to greater height in what has not been witnessed before.

T H I S D AY •THURSDAY, NOVEMBER 3, 2016

BUSINESSWORLD

E-BUSINESS

Cutix Grows Profit by 27% Pal Pensions Boss Counsels Operators on Sustainable Despite Economic Recession Business Model Charles Onyekamuo in Awka Cutix Plc, an Nnewi Anambra State cable manufacturing company has posted a profit after tax of N190.5 million or 27.71% of its revenue from N149 million in the preceding year. This is in spite of the harsh political and economic environment that has adversely affected the country’s earnings. The company’s revenue grew within the year under review from last year by about 20% from N2.358billion to a N2.835billion in 2016, while profit before tax grew from N202 million to N278million. The company’s Chief Executive Officer, Mr. Ifeanyi Uzodike, who made the disclosure during a press conference to announce the company’s annual general meeting (AGM), fixed for Friday, October 21, at the company’s head office in Nnewi said in view of the performance of the company, the Directors would be recommending that a dividend of 14 kobo per share be paid to the shareholders. Uzodike said that low economic activities continued during the year under review in spite of the much anticipated increase in the level of foreign investments as a result of the initial warm reception and support extended to the federal

government at inception. He said Nigerian economy remains in decline adding that revenue accruable to the government fell significantly as a result of the crash in oil price. The situation he said became so bad that most manufactures could no longer access up to 10% of their Foreign Exchange (FOREX) requirements through the Central Bank of Nigeria (CBN). Following this, Uzodike said the company resorted to sourcing for forex to purchase raw materials from the parallel market. The net effect he said was that the cost of doing business increased and inadvertently affected the prices of products significantly. “We are just working and we thank God. The way we do our business changed. From October last year and till date, we have not received up to $150,000 from the CBN. But we buy from the parallel market. It has generally changed the way we do business. “We are the first to begin sourcing funds from parallel market for our raw materials,” he said. The national fall-out or consequence of buying from the parallel market he said means that the prices of goods will adjust, stressing that, what you do as a manufacturer is to try to ensure control of cost.

Ebere Nwoji Executive Director, Finance & Operations of Pal Pensions Ltd, Godwin Onoro, has advised business operators in Nigeria to adopt sustainable business model in line with their development and value driven operations. Onoro said this will in no small measure help to meet the needs of the present without compromising the ability of future generations to meet their own needs. He stated this at this year’s

edition of the sustainability week celebrated by the company annually across its locations nationwide. He said sustainability week initiative is deemed important by the company because it helps to meet the needs of the present without compromising the ability of future generations to meet their own needs’’. “The initiative adopted from CBN’s directive to financial institutions is meant to create awareness and innovation amongst staff members in their contribution in ensuring PAL

remains a sustainable business with direct focus on core roles and functions”, he stated. According to Onoro, in 2015, the company celebrated the sustainability week via an interdepartmental sustainability challenge and a 6km fitness walk from TBS to Falomo, Ikoyi, Lagos. He said this year’s celebration was hinged on one of the quick-wins of the sustainability mandate aligned with employee health, safety and welfare. “There were different

activities held across three regional locations; fitness walks in Port-Harcourt; wellness talks in Enugu and visit to the orphanage in Ibadan.” The highlight of the exercise was the distribution of bin bags and parkers to market women and men in Enugu while sensitising them on the need to “reduce, reuse& recycle in the market place. The company’s wide celebration week ended with a 5-Aside novelty match amongst staff which took place at City Turf, Victoria Island, Lagos.

‘MultiChoice Committed to Giving Value to Nigerians’ Eromosele Abiodun General Manager, Marketing, MultiChoice Nigeria, Martin Mabutho has said that the company will continue to give value to its teeming customers in Nigeria and ensure that great family entertainment is available to everyone at the most affordable price. He stated this at a press briefing to announce the addition of variety and quality on DStv. MultiChoice, he said, is delivering even more value to the DStv Premium, Compact Plus, Compact, Family and Access bouquets. “Starting November 1, 2016,

subscribers will enjoy massive content upgrade on all DStv bouquets including varied and quality channels that the whole family can enjoy. This latest move is in line with the company’s promise of putting its customers at the heart of the business. In the last nine months DStv has delivered the world’s best football leagues to DStv Compact customers (February) followed by the DStv price freeze in April – and in the latest giant leap in providing customer value, DStv is combining more quality and variety to its bouquets to ensure everyone has access

to the best family entertainment at a price they can afford, “he said. On the new additions, he announced that three new HD channels have been added to DStv Premium. “DStv Compact Plus gets a major revamp with additional premium-content channels. DStv customers will enjoy an entertainment bonanza with more variety, quality and exciting new content added to their packages. This major boost in entertainment value across all DStv bouquets demonstrates our commitment to ensuring DStv customers receive great entertainment

and best-in-class value. “The price reductions in our state of the art decoders – Explora and HD Zapper – will ensure that great family entertainment is available to everyone at the most affordable price. We are all living in tough economic times – and while the everyday costs of food, water, power and fuel are increasing at an alarming rate, we recognise that there is still a need to take time to escape and relax with the family at home to enjoy quality and entertaining programmes from movies to sports, series, documentaries and a whole lot more, ”he said.

T H I S D AY • THURSDAY, NOVEMBER 3, 2016

BUSINESSWORLD

DEVELOPMENT

Sahara Group: Enhancing Food Security in Africa Abimbola Akosile examines the Food Africa Project, an innovative public-private partnership between the United Nations’ Sustainable Development Goals Fund (SDG Fund) , Sahara Group - a member of the SDG Fund Private Sector Advisory Group (PSAG), UN agencies, renowned chefs - the Roca Brothers and the Kaduna State Government, directed at improving food security and nutrition and alleviating poverty through strengthening of agro-food value chains, improving agricultural productivity and yields, creation of a food processing facility and promotion of access to markets in Nigeria Vital Project The Food Africa Project was officially launched on July 13 with a series of events and programmes. The project is a collaborative initiative between Sahara Group, United Nations- Sustainable Development Goal Fund (SDG-F), Roca Brothers and the Kaduna State Government, directed at empowering the people and alleviating poverty through food security. This project is an agro-base initiative envisaged to integrate the entire food value chain – the farmer, wholesaler, retailer and consumer- providing a sustainable source of food security, poverty alleviation and eradication, skill acquisition and social inclusiveness. The primary objectives of the project are to: provide employment, eradicate poverty and empower the people - It is estimated that about 500,000 people will be impacted both directly and indirectly by the project; reduce food wastage through the recycling of food produce that do not meet the proposed standards for offtake– local and international standards; and assess the feasibility of improving and increasing production substantially to encourage the development of sustainable food infrastructure in Kaduna State, with initial investment in vegetables. The project strategy seeks to identify potential areas for improvement in the conventional food value chain, hence the initiation of a backward and forward integration model for the implementation. The launch was phased in three (a visit to vice president, a stakeholders meeting with the executive governor of Kaduna State and an official flag off in Jerie Community with the farmers, community members, traditional rulers and government officials) Crucial Stakeholders The key project stakeholders include Sahara Group, UN SDG-F, Kaduna State Government and the Roca Brothers. While the SDG-F and Sahara Group will be responsible for project design and providing bulk of the financing, oversee the preparation of the work plan in agreement with all partners; the UN specialised agencies (Food & Agriculture Organisation (FAO) and International Labour Organisation (ILO) will be responsible for provision technical assistance in their core areas of expertise and implementing those activities agreed upon in the work plan. The Roca Brothers will serve as off-takers to the products and contribute to overall technical oversight to the project through the provision of technical expertise and sharing of best practices in resource efficiency while Kaduna State has provided infrastructure such as land upon which the processing centre will be constructed, security, access to electricity, road networks and farmers’ cooperative. Project Launch The Food Africa project was officially launched on July 13. Prior to the launch, the team was at the Kaduna State Government House to hold a stakeholders’ meeting and formally notify the government of its intention to commence the project, and re-introduce all project stakeholders. Present were representatives of Sahara Group, UN SDG-F, Roca Brothers, UN agencies and Kaduna State Ministry of Agriculture & Forestry. During the launch, the Commissioner for Agriculture in Kaduna State presented a brief overview of the project and promised to put in place required environment for the smooth takeoff of the project. Sahara representatives were also on hand to give credence to the project whilst; Kaduna State Deputy Governor reiterated the state government’s commitment to the success of the project.

Ensuring food security through agriculture Upon the symbolic launch of the project, the parties moved to the earmarked site for the proposed food processing centre in Jerei, Kakargo LGA (Kaduna State) and met with all major stakeholders involved in the project. The Roca Brothers’ team led by the Cofounder and Sommelier, Josef Roca met with the community representatives, cooperatives and local farmers to understand local farming techniques and enlighten them on better food preservation techniques. The team further visited vegetable farms, supermarkets, local markets and restaurants in a bid to identify firsthand the key local products that are in high demand

in Nigeria and how they can support the local market to make these more readily available. The driving force of the project will be the empowerment of capable young women and men from local communities in the Kaduna State region. All project activities will thus be carried by a core team of locally selected young community facilitators, who will benefit from a two-year full-time vocational traineeship, comprising training in technical skills, business management and a mentoring programme. They will in turn train at least 1,500 beneficiaries throughout the duration of the project, under the supervision of a Master Facilitator/ Chief

Technical Advisor and the Project Management Team. A hub/ marketplace will be established alongside the food processing center. It will allow smallholder farmers to sell their produce directly to customers. The increased availability and greater variety/diversity of food would be to the immediate benefit of local people and directly contribute to improved food security and nutrition. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

RANDOM THOTS

Exploitation Galore Although Nigerians have been severally described as one of the most accommodating people in Africa and globally, there is a darker side to the citizenry, which borders on crass opportunism. This negative trait is now being exhibited more brazenly in this era of economic recession, where citizens now turn upon themselves in a battle of survival of the fitttest and grabbing of any available opportunities even at the expense of the next person. Instances abound where this has taken place. How does one explain how internally displaced persons (IDPs) who are barely eking out a living in

camps are being subjected to brutal sexual abuse by the very security agents who are supposed to watch over them? It is evil when huge supermarkets churn out near-expired products at attractive prices to unsuspecting consumers, or the inhuman treatment of employers across several sectors of the economy (media industry inclusive) all in the name of recession; and now boli sellers and ugwu merchants freely pin the rationale for the higher cost of their wares on scarcity of dollars! Although nothing good or bad lasts forever, if this negative trend is not urgently tackled or reversed, the fallout would be rising anger

among the immediate victims of this exploitation, who will in turn lash out at anyone within striking distance, with anarchy the fitnal outcome. Even though things have never been this bad, Nigerians need an attitudinal change across all sectors, religions, educational strata and societal divides. The earlier each citizen realises that it is better to help your neighbour so that everyone can be on the same happy page, the better for this country and her development process. This is not too much to ask….is it? Abimbola Akosile

T H I S D AY • THURSDAY, NOVEMBER 3, 2016

BUSINESSWORLD

DEVELOpMENT/ISSUESINBOx

A vacant seat for a judge

Should the Judges Accused of Corruption Step Aside? The ripples over the recent raid and arrest of some senior judges by the Department of State Security (DSS) over allegations of corruption are yet to abate, with various stakeholders adopting opposing positions on the fallout of the arrests. While some analysts are lambasting the DSS of trampling on the sanctity of the Judicial arm of government, others want the accused judges suspended and prosecuted by a special court to deter corruption. To you, should the accused judges step aside until proven either innocent or guilty, to set good examples in the war against corruption? Abimbola Akosile This government has shown contempt for due process. The entire process lacks credibility. You don’t tell people to resign consequent on this kind of sham process. This kind of sting process will never sell in advanced countries so the question of resignation will not arise. If they resign it would create a dangerous precedent as the judiciary would have surrendered its independence to the executive. - Mr. Moses Oddiri, Lagos * That is a rhetorical question. The symbol of justice is a personality whose sight is covered: holding scale in one hand and sword in the other. Please interpret that. - Mr. Wale Adelani, Abeokuta, Ogun State * Yes, they must, out of necessity step aside now. The law is the law and it binds all bonafide citizens and sundry. Nobody should be above the law no matter who, what, when, where or why the condition. Judges must be Nigeria’s transparent hope but then any bad eggs must be punished to deter others. This is the norm in advanced countries. Let us save the judiciary from corruption to move us forward. - Mr. Apeji Onesi, Lagos State * A judge with any iota of dignity would step down until a proper investigation clears him/her! Sadly, we are not a nation known for such! - Mr. Yommi Oni, Paris, France * That is what is expected of them (judges) as the damage has been seriously done. Their lifestyle has proven what they are being accused of. Not only them, but also the Ministers and other government appointees who are hiding thinking that they are covered being in the ruling party, of any religion, should come out in repentance before God’s hammer falls on them. I don’t want to mention names, as the guilty are afraid. - Hon. Babale Maiungwa, U/Romi, Kaduna * Without any gainsaying, you can’t be a defender and a judge of your own case! For the sake of transparency and accountability, they ought to step aside for thorough investigations. And let an investigative panel decide their fate either guilty or innocent. This is most

THE FEEDBACK They should step aside:

No, they shouldn’t:

Others:

Radical tip:

Jail them!

Total no of respondents:

Male: 13

Female: 3

Highest location:

Lagos (8)

applicable in other advanced countries. - Mr. Ibrahim Adewale, Photojournalist, Lagos * No one will step aside much more resign in righteous indignation; even when they are darkened with tar, they will remain because we are a country of people without shame. Then the hue and cry made by some Nigerians that their arrest is unconstitutional, I just wonder. These are people that will willingly participate in a mob action on a poor man who was caught stealing because he was hungry. - Mr. Chris Iwenjora, Lagos * Why is the Executive acting holier-than-thou and persecuting the other arms? The VicePresident said all arms are corrupt so who bells the cat? When Mr. President constituted his cabinet, petitions were written against some but they became ministers all the same. The accused judges have been asked to step aside but why? Is it the duty of the media to convict them? - Mr. E. Iheanyi Chukwudi, B.A.R. Associates, Apo, Abuja * It should be the right thing to do but in Nigeria, stepping aside is rare. - Miss Nkeiruka Abanna, Lagos State * Ideally, not only the judges; Ministers or anybody so mentioned by the judges should be inclusive, since they are not covered by immunity. To allow fair hearing, an independent judiciary by retired judges should be appointed to try such cases for an unbiased judgment. Punitive measures should be meted

out to those involved to serve as deterrent for those who may wish to emulate the looters. Nigerians and the international community are watching to see the outcome. - Mr. Dogo Stephen, Kaduna * Let the corrupted judges face prosecution and jail for their ugly acts in determent of other judges who may engage in same act of collecting bribe before delivering judgment, Corruption must stop in the judiciary to move the nation forward. It has become an embarrassment to the nation. - Mrs. Ijeoma Nnorom, Lagos State * It has become an argument whether the accused judges should step aside because that is the norm for people accused not to step aside over their cases. My take is, it is wrong for people to preside over their own case. - Mr. Okechukwu Ikonne, Mbaise, Imo State * Yes, they should. All culpable judges must face the music and step aside in the interim for a neutral, impartial and professional verdict. The onus rests on them to prove themselves innocent of any indictment and all culprits must be punished especially after a fair hearing in an appropriate court of justice. Let us be honest, united and patriotic to move Nigeria forward. God bless Nigeria. - Miss Apeji Patience Eneyeme, Badagry, Lagos * Only God knows whether the judges are Bureau de Change agents where DSS discovered foreign currencies in their houses. DSS acted well on the judges over their bribes before delivering cases and this should be a lesson to other judges who are always engaged in collecting bribes. They must face prosecution and jail sentence if they are found guilty of corruption intake to deter other judges in future conduct. - Mr. Gordon Chika Nnorom, Public Commentator, Umukabia, Abia State * Yes, the judges should step aside and let investigation and resultant justice take its course, to protect whatever is left of their integrity and dignity. DSS wouldn’t dare storm the house of a Supreme Court justice without valid and tangible proof. Although their approach smacks of Gestapo tactics, DSS has achieved the effect they desired,

to beam the searchlight on a corrupt Bench. Their move was long overdue. - Mr. Olumuyiwa Olorunsomo, Lagos State * Whether they step aside or not is not going to make a difference because their cases will end up like every other high profile cases before theirs. Never ending, option of a small fine sentencing and a total waste of tax payers’ money. It is obvious that the type of justice system we have nurtured over the years is not one that can fight corruption. That is why currently plea bargain is the only option. None of the loot recovered so far is credited to any court in the land. Why this administration still believes in our judiciary to fight corruption the conventional way is a mystery to me. - Mr. Buga Dunj, Jos, Plateau State

Next Week: What is Nigeria’s Current Top Devt Obstacle? Several things had earlier been identified as serious impediments to the growth and development of Nigeria as a country with Africa’s largest population. Among them were corruption, insincere leadership, selfish elites, weak policy implementation, absence of basic infrastructure, insurgency, citizens’ apathy, low agricultural and even food insecurity. A lot has happened in the last year since the current administration came into power, but what is your biggest obstacle to Nigeria’s development process and how can it be successfully resolved? please make your response direct, short and simple, and state your full name, title, organisation, and location. Responses should be sent between today (November 3 & Monday, November 7) to abimbolayi@yahoo.com, greatbimbo@ gmail.com, AND abimbola.akosile@ thisdaylive.com. Respondents can also send a short text message to 08023117639 and/ or 08188361766 and/or 08114495306. Collated responses will be published on Thursday, November 10

T H I S D AY • THURSDAY, NOVEMBER 3, 2016

BUSINESSWORLD

DEVELOPMENT

RESTRUCTURING LAGOS

Task Force members of the Lagos State Ministry of Environment demolishing shanty shops on a canal by Ribadu Road, Ikoyi during an environmental sanitation exercise in Lagos…recently KOLA OLASUPO

Lagos Denies Engaging World Bank to Privatise Water Supply Says charging 5 kobo per litre isn’t sustainable Gboyega Akinsanmi The Lagos State Government has denied engaging the International Finance Corporation (IFC), an arm of the World Bank, to privatise water supply in the state. Rather, the state government noted that it had initiated strategic engagement with private interests and investors “to supply potable water to every home at affordable price in the state.” The Commissioner for the Environment, Dr. Babatunde Adejare disclosed this at a news conference he addressed recently, alongside the Special

Adviser on the Environment, Mr. Babatunde Hunpe and the ministry’s Permanent Secretary, Mr. Saliu Adeyemi, among others. Civil society groups had recently protested a plan by the state government to privatise the Lagos State Water Corporation (LSWC), which was initiated under the immediate past Babatunde Fashola administration. But at a conference he addressed in Lagos on Monday, Adejare denied that the administration of Governor Akinwunmi Ambode had plans to privatise water supply or enforce any policy that would inflict pains on the people of

the state. Categorically, the commissioner clarified that the state government “is not privatising Lagos State Water Corporation. I want this to be clear to every Lagos residents. We do not have such plan.” However, Adejare noted that Lagos residents should realise that charging 5k per litre of water “is not sustainable,” thus suggesting that a new price regime would have to be evolved. He added that the state government “will go into public-private partnership (PPP). We are not directly dealing with the International Finance Corporation (IFC) or the World

Bank. It is expensive to build water treatment plants. We are currently constructing on Adiyan II. “Already, we have Adiyan Water Treatment Plant I already working. We also have the one at Iju working. We have Isasi working. We just finished one at Ikota Ikosi. We have other mini water works. But we are building Adiyan II. Initially, the Adiyan II project was N54 billion. “But foreign exchange crisis has pushed it to over N64 billion. This is a huge cost for the state to bear alone. Due to cost implication and foreign exchange crisis, we plan to work

with private concern. We are so sure our population is above 25 million. “So, we are still going to build another water treatment plant at Lagos East. The State Executive Council just approved the first one we are going to construct. That is the one we will use as a model for others. That is Odomola II water treatment plant,” he added. The commissioner disclosed that the Odomola plant would supply water “to Victoria Island, Lekki, Ajah, Ibeju and Epe among others. We are going to get water from Osun River. The State Executive Council has just approved the Odomola II

project.” Currently, the commissioner explained that the Lagos State Water Corporation “is charging 5k per litre. Water vendors will fetch the same water and sell it at N20 per litre. The bottled water is not better treated than our water. This is not sustainable. “What the water corporation is charging cannot sustain its service. In fact, in the last two months, the corporation cannot pay its salaries. 5k per litre cannot bring them any revenue. The rate we are negotiating is not up to N1 per litre. It is about 64 kobo per litre,” he explained.

IPC Advocates Training Skills on Devt for Communities Oluwafunke Lasisi The International Press Centre (IPC) has advocated for training skills on the ongoing community development coordinated by the Centre in six Local Government Council Areas (LCDAs) in Lagos to impact a good understanding and knowledge in the people of the communities on how to make requests from government concerning the challenges facing them. The areas which include Ikorodu, Lagos Mainland, Shomolu, Surulere, IfakoIjaiye and Amuwo-Odofin

participated in the exercise to develop their communities by printing their needs in a book titled Community Development Charter (CDC). Speaking at the training programme, the National Coordinator, Democracy Vanguard, Mr. Adeola Soetan said the reason for the training skill is to enlighten member of communities on how to get things done to achieve community development objectives and not just sit expecting the government to perform. He stressed that in pursuing aspiration for communities’

development, members of the community must be united by their craft no matter which group they belong to, because it is their responsibility as, according to him, the primary duty of the government is security and welfare of the citizenry. He explained that although members of the communities are the ones who elected government into power, their aims should be to fulfill all promises made during election but in the other way round community members should be eager to demand for their needs in a suitable manner

before the government as they may not be aware of all their needs. Soetan said while communities are aspiring for development, they need to know the specific relevant agents of government in charge to build relationship, mutual confidence, and write to them concerning their needs and ensure they collect an acknowledged copy for reference. He further advised that community members should elect monitoring teams among themselves for projects approved in their area to keep contractors, supervising agen-

cies and government on their toes, saying that the members can do a letter of appreciation to acknowledge and encourage the various stakeholders to do more. He advised the community dwellers not to not any challenges facing them during the term of advocacy as this is a non-economic and nonprofitable activity. The Centre with its supporters, ActionAid Nigeria and UKAID/DfID, explained that the Charter book is an entry point to any government official to complain about issues and they should be rest

assured that the agencies and government will always come to their aid anytime they are in need of assistance. The IPC had earlier also launched a manual on development in Makoko, a Lagos suburb, to help sensitise the dwellers on their rights as citizens and to know how to hold government officials and other elected representatives accountable for any short-falls in delivery of the dividends of democracy. The launch was organised by the Executive Director of the Centre, Mr. Lanre Arogundade, at a well-attended event in Lagos.

T H I S D AY • THURSDAY, NOVEMBER 3, 2016

BUSINESSWORLD

DEVELOPMENT QUOTE OF THE WEEK

“Considering the huge infrastructure deficit currently being experienced in the country and the enormous financial resources required to fill the gap in the face of dwindling resources and the inability of our annual budgetary provisions to bridge the deficit, it has become necessary to resort to prudent external borrowing to bridge the financing gap, which will largely be applied to key infrastructure projects namely Power, Railway and roads projects among others” - PRESIDENT MUHAMMADU BUHARI IN A LETTER TO THE NATIONAL ASSEMBLY SEEKING FOR APPROVAL OF AN EXTERNAL BORROWING PLAN OF $29.960 BILLION Accenture, WAVE Partner to Develop Nigerian Youths for Labour Market Sunday Okobi

Ki-moon: To Transform Our World, We Must Transform its Cities Abimbola Akosile The United Nations has stated that greater attention needs to be placed on the role of urbanisation as a source of global development and social inclusion; with more than half of the global population now living in cities and human settlements. Speaking in a statement commemorating the World Cities Day, which is observed on 31 October around the globe, the UN SecretaryGeneral Ban Ki-moon said, “To transform our world, we must transform its cities.” “They are central to climate action, global prosperity, peace and human rights,” he added. “Crime, pollution and poverty are taking their toll on hundreds of millions of city-dwellers. At the same time, urban areas are hubs of energy, innovation and economic dynamism. By investing in cities, we can advance progress across societies.” In a resolution adopted in February 2014, the UN General Assembly designated the Day in recognition of the significance of urban basic services as a foundation for the overall social and economic development. The rationale underpinning the Day is that planned urbanisation maximises the capacity of cities to generate employment and wealth, and to foster diversity and social cohesion between different classes, cultures, ethnicities and religions. The theme of this year’s observance is ‘Inclusive Cities, Shared Development.’ The Day also ties into the Sustainable Development Goals (SDGs), with SDG 11 aiming to make cities and human settlements inclusive, safe, resilient and sustainable. According to UN-Habitat, inequalities in cities have grown since 1980, with the world’s largest cities also often the most unequal. In his remarks, the Scribe noted that momentum is building on this issue in the wake of the recently concluded UN Conference on Housing and Sustainable Urban Development, known as Habitat III, at which attendees adopted the

A Police Barracks in Lagos; begging for rejuvenation New Urban Agenda, a vision for cities that are just, safe, accessible, affordable, resilient and sustainable. He went on to flag that along with other new global framework agendas – such as the 2030 Agenda for Sustainable Development, the Agenda for Humanity, the Sendai Framework and the Addis Ababa Action Agenda – the New Urban Agenda will put sustainable urbanisation at the centre of efforts to eliminate poverty and achieve development and prosperity for all, and it can also complement the Paris Agreement on climate change. “Local action is essential to realising the potential of these global agreements,” Ban said. “On World Cities Day, let us renew our resolve to confront urban problems and forge lasting solutions. Together, we can show how success in cities inspires change across the world.” He was joined in marking the Day by Joan Clos, the Executive Director of UN-Habitat, the

UN agency charged with promoting socially and environmentally sustainable human settlements development and the achievement of adequate shelter for all. In his message for the occasion, Mr. Clos pointed to the Day as “an essential celebration on the calendar to greatly promote the international community’s interest in global urbanisation, push forward cooperation among countries in meeting opportunities and addressing challenges of urbanisation.” He said this year’s Day was particularly significant as it comes on the heels of Habitat III, which he referred to as, a “resounding success” in which 30,000 people participated in almost 1,000 events over the course of four days. Dr. Clos elaborated that in line with SDGs and the Paris Agreement, the New Urban Agenda envisages cities and human settlements where everyone can feel a sense of belonging and have equal opportunities to participate in.

Accenture Management Consulting Nigeria Limited has given necessary supports for the development of Nigerian youths through partnership with West Africa Vocational and Educational (WAVE) institution, a youth training institute, in preparing them for global labour market. The partnership, through pro-bono services, financial aid among others, according to Accenture management team, would also enable partners to perform or measure better metrics on their output among others like improving their processes and long term planning while preparing the youths for their future endeavours. It noted that it is a continuous partnership which helps them to train and tutor the trainees among other support. The initiative, it noted, was that setups such as WAVE would be able to help bridge the existing gap and give Nigeria the prerequisites required to have that pool of resources on what the country is expected to deliver in terms of human development indices or where Nigeria needs to be in the comity of nations. At the graduation ceremony of the trainees in Lagos recently where 90 of them were certified fit for the job market, the Marketing Communication Director of Nigeria Office for Accenture, Segun Olaolandu, said: “Today is the graduation ceremony of a concept we started several years ago at Accenture. We saw that rather than dissipate a lot of energy on corporate social responsibility, we focused on a key area, and that was youth unemployment-to bring it to the fore-and now it is in the fore. We set out to do two things with that initiative called ‘Skill to Succeed’ which is to enable people get a skill to get a job-just like job shadows among others.” He added that through the ‘Skill to Succeed’, Accenture has given partners the opportunities to start businesses, stating that “with WAVE, we have found an excellent partner. They have nearexcellent RI in terms of investment in developing young talents among others goal-targeted activities and the results they get. They are closing on 90 per cent of the graduands getting a job or starting a successful business. So spending our time and efforts on this particular opportunity and project will always yield excellent result. “Now, to tie that into our global expectations, Accenture aims at three million people it wants to impact though out all our organisations worldwide - to get people to start a business or get a job-and we have done that with WAVE which would graduate the recipients of this training based on our enablement of the process capacity.” The CEO and Co-founder of WAVE, Ms Misan Rewane, exclusively told THISDAY that the initiative has been on since 2013, and that they have successfully trained and graduated the 950th student from different locations in Lagos. She noted that at WAVE, hardworking youths are guided and taught the needed skills to succeed in the labour market, because what most employers are looking forward to are problem solvers. Senior Manager at Accenture Management Consulting Nigeria limited, Tunji Gomez, who shared his ideas and experience with the departing students, noted that one of the things he had left with the recipients of the training was to dream big and allow their dreams to scare them “because that is the way they can attain greatness and move from where they are to a bigger place.

T H I S D AY THURSDAY,NOVEMBER 3, 2016

HEALTH & LIFESTYLE

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

Polio Eradication: A Race against Time As Nigeria joined the rest of the world to mark this year’s World Polio Day recently, experts believe only an intense and sustained campaign can truly earn Nigeria a poliofree status. Martins Ifijeh writes

A child being immunised

The recent reported cases of wild polio virus in two children from Gwoza and Jere Local Government Areas of Borno State; an area in the North-east region once dominated by Boko Haram insurgents, has again brought experts, stakeholders and the government to the drawing board to find a sustainable approach to becoming polio free in few years to come. This is as the country was already warming up to be certified polio free in 2017 by the World Health Organisation (WHO) if no new case was recorded from the last reported cases in August of 2014. But as the anticipated celebration is cut short by the unfortunate report of polio cases, making Nigeria one of the three countries of the world still grappling with eradication of the disease, experts are of the opinion that only sustained and intense campaign by the government, citizens, health organisations and other stakeholders, can truly earn the country a polio free status. The two other countries still recording wild polio virus is Afghanistan and Pakistan. Speaking with THISDAY, a virologist, Dr. Ben Nkwoma, said the government should ensure that the target of reaching every child in the country, whether in the North or in the South where the disease is less common, adding that if all children under five years were truly immunised against the scourge, there remains a likelihood that Nigeria will achieve a polio free status at the earliest time possible. He said to making this work, all hands must be on deck, including commitments from the citizens themselves, community leaders, religious heads, civil society organisations, health bodies, the media and other stakeholders in the country. “We urge the government and other stakeholders involved in this new push against the disease to intensify it and continue to sustain the momentum, as only such approach consistently can help in reducing the scourge. We can’t say we have done enough when there is still one child somewhere who is not vaccinated,” he said. He said health workers and the government must continue to tell Nigerians the benefits of

bringing out their children and wards for immunisation, as according to him, only vaccination can truly establish a life long immunity against the disease. “In remote areas where apathy still persists, religious and community leaders should be convinced first of the benefits of accepting vaccination. When they are convinced, the likelihood that their followers or wards will subsequently follow suit is high. Advocacy must continue until every child is immunised in the country,” he said. He explained that the inactivated polio vaccine needs to be given at two, four and between six and 18 months of age with a booster between ages four to six. According to WHO, Polio is a highly infectious disease caused by a virus which invades the nervous system, and can cause total paralysis in a matter of hours. The virus is transmitted by person-to-person and spread mainly through the faecal-oral route or, less frequently, by a common vehicle (for example, contaminated water or food) and multiplies in the intestine. The health body says the initial symptoms were fever, fatigue, headache, vomiting, stiffness of the neck and pain in the limbs, adding that one in every 200 infections lead to irreversible paralysis (usually in the legs), and among those paralysed, five per cent to 10 per cent die when their breathing muscles become immobilised. “Like other typical viral infections, polio has no cure, but transmission can be interrupted through continued vaccination of children within the age bracket susceptible to the infection. The vaccines develop immunity in the children which helps to keep the infection at bay,” WHO says Assuring Nigerians that the country will surmount the temporary setback, the Minister of Health, Professor Isaac Adewole, said the government has already spent over eight billion naira on immunisation of children against the polio virus, adding that the setback should be a wake up call for the country to put a stop to the spread of the virus. “While this new outbreak is a setback for us, we must take it as a wakeup call for us as

a government and people to ensure that we all play our part to stop the transmission of the virus in our shores. It is pertinent to state that the outbreak is not a failure of the polio eradication programme but mainly due to the fact that the activities of the insurgents in the North-east have resulted in limited access to children for immunisation and, indeed health services, for several years.” He said since the declaration of the outbreak detected in Borno as Public Health Emergency for countries in the Lake Chad region, over 41 million children have been vaccinated across the five countries in the basin, of which over 1.6 million children were reached in Borno alone. He reinstated the ministry’s commitment to celebrate the 2017 World Polio Day as having one year without polio in the country. He also commended the military for their continuos efforts in recovering territories from the insurgents which in the past had put a damper on the polio immunisation campaigns and other health services in the north eastern regions of the country. “Beyond enabling our health team access to the communities, the military is also assisting us in our response to this outbreak by providing protection for health workers, supporting movement of materials and personnel as well as providing vaccination services.” The Chief of Health, United Nations Children’s Education Fund (UNICEF) in Nigeria, Mr. John Agbor made an appeal to the Federal Government to strengthen Primary Health Care (PHC) system in the country, noting that this has become important to enable the country solidify the little gains already made in its effort to put an end to the virus. In the same vein, the Chairman of the Senate Committee on PHC, Senator Mao Ohuabunwa called on the executive to strengthen the routine immunisation of children under age five, as this would help eradicate polio and other preventable diseases in the country. On his part, the Chief Executive Officer, Nigeria Centre of Disease Control (NCDC),

Dr. Chikwe Ihekweazu restated the centre’s commitment towards improving response activities in controlling the scourge, especially in the North-east. Ihekweazu, who spoke recently to mark the 2016 World Polio Day, reflected on the hard work that has gone into controlling the debilitating disease. “This time we are pushing further into those areas that have been previously inaccessible due to security challenges. We are determined to reach every child with the polio vaccine. We are also working with the National Primary Health Care Development Agency (NPHDA) to continuously improve response activities, and we are confident that ongoing effort would eventually eradicate the disease,” he added. He said although Nigeria’s polio-free certification suffered a major setback in August 2016, due to new cases of wild polio virus reported in the North-east, the federal government immediate response curtailed the spread of the virus. World Polio Day was established by Rotary International over a decade ago to commemorate the birth of Jonas Salk, the man who led the first team to develop a vaccine against poliomyelitis. The use of inactivated poliovirus vaccine and subsequent widespread use of the oral poliovirus, developed by Albert Sabin, led to the establishment of the Global Polio Eradication Initiative (GPEI) in 1988. Since that period, the world has witnessed a reduction in the number of wild polio virus cases from 350,000 in 1988 to 74 in 2015 and this has given impetus to setting the agenda for its eventual elimination. Worldwide, record shows that polio cases have decreased significantly by over 99 per cent from an estimated 350,000 cases to 74 cases in 2015. The reduction is due to the global effort to eradicate the disease. Today, with the discovery of new cases in Nigeria, there now exists three polio endemic countries from as many as 125 in 1988.

T H I S D AY THURSDAY, NOVEMBER 3, 2016

NEWS

Killing of Children with Celebral Palsy on the Increase, Says Group Paul Obi in Abuja A group, the SEEDOO Initiative for children with special needs, has raised the alarm over the increasing spate of killing of children with Celebral Palsy in the country. Celebral palsy is a congenital impairment that leads to brain damage or partial development of the brain, which often result to breakdown of the nerves and their functions. Founder of the group, Mrs. Kawan Aondofa Anjira told journalists in Abuja that high cases of killing of children with celebral palsy remain on the increase, she called for drastic action by government to protect such children’s rights. She said: “Children born with celebral palsy deserve the right to life, because these kids are being killed everyday. They deserve the right to education; look at the classrooms, most of the classrooms cannot take these children, they also deserve the right to good health.” Citing an example, Anjira explained that Tersoo’s story was amazing. He was born with some delayed development. The family believed Tersoo was not a human being. When we heard about Tersoo we got him and to the glory of God Tersoo is walking. He is the only child in the centre that can walk. “That’s the reason we’re partnering with the Ministry of Health and national human rights. We are awakening them to these responsibilities. We are calling them to do the needful,

to give us the environment that will lead the children to live normal lives,” she said. Chairman, Board of Trustees, Yes Kids Development Initiative, Barrister Gabriel Iorsase said efforts were on to provide educational needs of children with celebral palsy. “We want to draw the attention of government to what needs to be done for the kids, especially while in school. We try to look at the curriculum for the schools and we are of the view that much, much more needs to be done to address the need of the class of this category of children.” Meanwhile, a visiting Professor of Pharmacology, Nagasaki University, Japan Assoand Prof. Omotuyi Olaposi, said medical errors in Nigeria appears to be one of the main contributory factor to increasing cases of deaths in hospitals across the country. Stating this at a two-day seminar on medical services and simulation organised by Medbridge Global Company Simulation, Director, Centre for Bio-Computing and Drug Development, Adekunle Ajasin University, Akungba, Ondo State, he said; “Medical errors is unfortunately a very big heath challenge in Nigeria, medical errors have a lot of dimensions. The first dimension is what is called misdiagnosis. That is when people are diagnosed wrongly and that means the chances of treating the person is almost zero. “The second dimension

West African Leaders to Combat Emerging Health Threats Not less than 200 policymakers, development partners, public health experts and advocates from West Africa and around the world will gather on the 8th to 11th November to highlight the importance of addressing emerging health threats using a ‘One Health’ approach – one that takes into account the inextricable link between the health of humans, animals and their environments. According to One Health organisers, an estimated 75 per cent of infectious diseases that have emerged over the past decade have been caused by pathogens that spread to people from animals or animal products, with trends like globalisation, urbanisation and climate change making it easy for ‘zoonotic’ diseases to transfer to humans and spread quickly around the world. “The recent Ebola Virus Disease outbreak in West Africa is a prime example of this; a single case of the virus in a remote village, likely contracted through an infected animal, ultimately spread between more than 28,000 people, including in urban capital cities of six West African countries, namely Guinea, Liberia, Mali, Nigeria, Senegal and Sierra Leone,” the group said. At the upcoming conference, regional and global leaders will discuss strategies for pre-

dicting, preventing, detecting and responding to emerging health threats across the region by collectively addressing the health of people, animals and the environment. Ministers responsible for human health, animal health and wildlife from 17 West African countries will participate. The first three days of the event will consist of technical meetings in which health officials and technical personnel will focus on next steps for integrating One Health approaches into existing regional and country-level systems and programmes. At the Ministerial Meeting on the last day, attending ministers for human health, animal health and wildlife will put forth a communiqué to guide future action for the West African sub-region. This event is being hosted by the World Health Organisation’s Regional Office for Africa, the UN Food and Agriculture Organisation (FAO), the World Organisation for Animal Health (OIE), the Economic Community of West African States (ECOWAS) Commission – including its West African Health Organisation (WAHO) and Regional Animal Health Center (RAHC) – the U.S. Agency for International Development (USAID), the World Bank and the U.S. Centers for Disease Control and Prevention (CDC).

is when donators diagnose right but the wrong drugs and medications are administered. You got the ailment right, but the wrong treatment is given. The third is when you get the diagnosis right, get the right drugs to administer but you administer the drugs improperly, probably due to insufficient trainings or exposure. So these

three are very important in terms of how people eventually die in our hospitals in Nigeria.” Speaking on wrong diagnosis of persons, Olaposi explained it is only in high profile persons that the public get to know. “It was just because Dora Akunyili happens to be a celebrity, that was why we knew what exactly happened.

A lot of people die without even knowing it. The family will just accept it as the will of God and they just move on. Nobody is questioned and nothing whatsoever. The Chief Executive Officer, Medbridge Global Company Simulation, Modupe Olowodahunsi, said the essence of the conference was to draw

attention to critical need of simulation in healthcare service delivery. Olowodahunsi maintained that for Nigeria to meet global standards in health care service, simulation and provision of standardised healthcare infrastructure must be attained in order to scale up the nation’s health care system.

L-R:Secretary, Freedom of Information (FOI) Unit, Ade Aiyewunmi; Acting DG, National Agency for the Control of AIDS, Dr KayodeOgungbemi; andChairman FOI Unit, Dr James Anenih, during the inauguration of FOI members in Abuja …recently

P & G Restates Commitment to ‘SBCC Can Improve Healthcare Oral Hygiene in Nigeria Delivery in Nigeria’ Rebecca Ejifoma The Executive Director, Centre for Communication Programmes Nigeria (CCPN), Ms. Babafunke Fagbemi, has said that Social and Behaviour Change Communication (SBCC) can improve healthcare delivery and access in Nigeria to attain the Sustainable Development Goals. Stating this at the 10th anniversary of LSHC on the theme, ‘Repositioning SBCC towards Attainment of the SDG Goals’, held in Lagos State recently, she said the challenges to improve health status can often be attributed to demand side issues such as lack of correct information, negative attitudes and social norms that actually contribute to poor health statistics. “SBCC can address these factors by working with results of research to develop effective, appealing and innovative campaigns that will address the root causes. Many African countries like South Africa, Ghana and Liberia, to name just a few, have embarked on SBCC campaigns to get the audience to change her behaviour. Nigeria can learn how these countries scaled up successful projects that have been implemented among a particular region in the country and work with the government to scale this verified success to national scale,” she explained.

Fagbemi said SBCC was cross cutting and once robust research is conducted, the results could inform the development of a communication strategy for any of the SDG Goals. “The strategy then becomes the road map to make sure the correct research and theories are considered and this increases the likelihood that the campaigns will be effective. Again SBCC enables community action and this provides for great results if groups and communities exposed to SBCC campaigns are able to change the way they perceive things, drop misconceptions, negative attitudes and stereotypes, then we would be contributing to making our communities more health competent.” Therefore, she urges government at all levels to first appreciate the role of SBCC. Meanwhile, the Director for Training and Capacity Building, John Hopkins CCP, Dr. Benjamin Lozare, urged the graduating students of the LSHC to light as many candles as they can and save as many lives as possible. “As we broaden the scope to use strategic communication not just in the health field but in other domains of nations development. I encourage every graduate to dedicate themselves to the noble path of saving others, achieve healthier and more meaningful lives.

Martins Ifijeh Procter & Gamble’s oral care brand, Oral-B stated its commitment to the oral hygiene of Nigerians through the capacity building seminar held for dentists recently in Lagos. This was made known at the 2016 National Dental Association Continuing Medical Education (CME) in partnership with Oral B, aimed at educating dentists on oral care and to further develop the professional competencies of practicing dental care professionals. Giving the opening remarks titled ‘The Exceptional Dentist5 years of New Paradigm for Enhanced Productivity’, the Brand Marketing Director, P&G Nigeria, Tolulope Adedeji, stated that the company was sponsoring the CME for dentists in order to provide the necessary trends and development to promote and ensure ample support for oral care hygiene of Nigerians. Adedeji, describing dentists as critical partners of the company’s oral care brand that launched in Nigeria five years ago, said “the more dentists know, the better they also can give services to patients as they come.” She added that “to enable Nigerians access qualitative dental care, it is necessary we equip our dental care professionals on the constant innovations discovered in oral health care.”

One of the highlights of the capacity building workshop was the exposure to dentists of the revolutionary and multipurpose benefits of stabilised stannous toothpastes with references to the research results on Stannous Fluoride with Nigerian patients. In the key presentation of Dr. Ayan Badejo, a foremost periodontist in Nigeria and lecturer at the Department of Preventive Dentistry, University of Lagos who was represented by Dr. Modupeore Shorunke recommended that Nigerians should buy toothpastes with anti-bacterial agents to clean their teeth, saying they are better in preventing tooth decay, tooth sensitivity and gum problems. Shorunke, an associate professor of Dentistry, LASUCOM, stated that toothpaste with anti-bacterial content were helpful in preventing bacterial plaque which irritates the gums and can lead to gum disease. According to her, “currently, over 90 per cent of patients seen in our dental clinic have some degree of gum disease across all age groups and socio-economic status. “Despite brushing every day, many people still find it difficult to maintain that level of plaque control that ensures that the gums are healthy. Just as fluoride is for prevention of tooth decay, so also, antibacterial toothpaste helps to kill the bacteria and plaque that causes gum disease.”

T H I S D AY THURSDAY, NOVEMBER 3, 2016

HEALTH

‘WithAppropriateFunding,NigeriaCanProduceaMedicalNobelLaureate’ With over 100 publications to his credit, the newly appointed Director General, Nigerian Institute of Medical Research, Professor Babatunde Salako, is indeed an erudite scholar. He speaks to select journalists on the challenges of his new office and the opportunities he and others hope to put the country on the global medical map. Zacheaus Somorin brings excerpts What is it like since you came on board as the DG of NIMR? It has been very challenging. The first thing we did was to take briefs from different parts of the institute, starting from the administration to the division, the research, groups, the laboratory (including the works, accounts, internal audit and the residential areas). I actually went through to visit all these parts of the institute and we took brief on the state of things from there. Their challenges and what they themselves think is the way forward and what we have found generally is that it is an old institute which had been established since about 1920 but has grown from strength to strength to where it is right now. The peculiar thing is that successive government really to me has not understood the purpose of that place which is an institute that should be in the forefront of national development via research. Coming up with innovations that can accept government policy or that can improve existing policy or new policy formation and beyond that it should be. It is also an institute that can come up with newer models of diseases or provide a new public health approach to fighting some of the common public health diseases. Why has it not been able to do that? The reason purely is that the place has been poorly funded like any other government agency because one must be quick to say that yes government can’t do everything but we believe that the institute is in a good stead to be able to carry out its mandate and that it should come with enough adequate staff especially in the area of research equipments which have been obsolete, the building, laboratories, although they are still functioning in a way, they are much less than required. Some of these areas are needed to be propped up and supported much more than we have currently. The major part is that there are no reasonable funds dedicated to solving major public health problems in Nigeria. Ideally, the institute should be in a position to call for a research proposal based on challenges that we have in our health sector that the country requires the solution to. For example, the issue of Lassa fever cases which have been recorded over the years and polio which we are trying to kick out of Nigeria and non communicable diseases like hypertension and diabetes and their complications and more importantly the issues of infectious diseases. These areas need to be properly funded for the institute to come up with solutions to some of these complex issues and in advanced countries, this is what their own government have understood over the years, their national development can only come from funding research because research is actually to look into the future or the present and accessing the past and coming up with predictions of the future and therefore they have the ability to be able to predict and then prevent diseases that may occur in future but what we have currently is that we have not paid attention to that and we still use fire brigade approach to issues, so our challenge includes the fact that we don’t

have adequate funding and equipment which government nearly should put in place. While knowing the fact that government cannot do everything, we are also looking at the possibility of engaging the private sector because the private sector also has a lot to do in funding research but we must first make them understand the need to do this. Even in their own smaller enclave they need research to advance to make progress and if they are doing that on their own they should also contribute to research of national importance by providing fund for this. So one of our future aims is to bring the private sector together, put them on board, let them know the need to fund research and see how they can contribute funds to assist the government in achieving a common goal of national development. Research alone without actual utilisation will just not be useful. Do you have a set of research works that has been completed by the institute but have not been taken on board at the national level? Well, there are quite a number of researches that were designated as a national research but unfortunately were not completely funded because the institute was being treated like any other ministry’s agencies and so they also get funding per quarter and cannot plan based on that and sometimes we have a budget but the funding does not come. So it gets to a point that the research cannot go on but the ones that are within a state that the individual can also get some funds from those states we have been doing and the result of these have been given to those states and I believe the states have really made use of those results. During the Ebola outbreak, one would have expected that an institute like this would be in the forefront, but instead we had another institute of government running this show? The Centre for Disease Control should also be in the forefront, ours is to conduct research on for example, behaviour of the virus, the possible treatment and approach in terms of prevention strategy - and that cannot be done during the outbreak. That is something we needed to have done but we also have what we call an emergency preparedness unit which worked with the Lagos State government at that time to control the situation. But what we should be doing at that point was to be able to diagnose patients, to culture their virus and begin to study the molecular basis for some of the virus’ behaviour and prepare for future occurrence and more importantly how to prevent future occurrence. We can also take part in disease surveillance which means we cannot monitor the movement of the virus in and outside Nigeria from various parts of entry we should therefore have a laboratory that is standard enough to be able to do this kind of job. That is basically what we should be doing as we have no case now, our institute should be involved in research on how to ensure that the

Well, I will assume that government is serious about the change that they profess and that I believe will be the impetus to assist them in listening to us, because if you appoint some people to go and head a place, you necessarily will want them to make progress, so based on that we believe if we approach the government and let them also see why they need to fund the institute, support the institute to move on from where we are now because there are much more benefit in future. You don’t often get research result immediately, it has to be carried out over some period of time but before then money has to be spent judiciously too and we hope to be able to do that. Why we are not relying on government alone, if they do their best we are also hoping to put a lot of energy into bringing in the private sector because we believe that they can actually drive it.

Prof. Salako

disease is wiped out within our own country and of course West African sub region and this can only be done if we have enough funds for people to come up with research questions that can find solution to this type of problem. What we have now is that we don’t have any fund so even when we have ideas, our ideas are just in our minds and we also have tried to collaborate with other institutions in these areas but as I speak we have a few international grant in the institute when we expand our net so to speak and make more collaboration with the university’s within Nigeria and other similar institute in and around Africa, we will be in a position to work with these institutes and the answer... What are the new things you are bringing on board? We want the institute to be known widely within and outside the country. We want to internationalise the institute and the way to do that is to begin from home, we have a crop of researchers scattered all over Nigerian universities who have international exposure, but have nothing to do with the institute that everybody will go and as such work, plan or collaborate with to answer Nigerian research agenda and health challenges. We believe we can do this in a national retreat that we plan to host between 1st and 2nd of December, where we will bring in these international scientists to rob minds with the in house scientists and possibly form a network with them, put grants together and seek funds from within if we eventually get fund for research and from other similar agencies outside Nigeria that can give research fund. We intend to bring in people from the private sector who ideally should be the end users of these research products, that has not been widely practised in Nigeria. Is there a political way to actualise these dreams? Are you thinking alone or you are thinking in concert with the government. Do you think this government, given recession and the present state of the economy, will give its support?

Zika virus is an emerging global health challenge. Is your institute in a position to initiate researches to towards tackling his, and thereby possibly producing a noble laureate from your institute? Yes, the ambition is also for us to put the institute in the world map of science and I believe all we need to do to get it right is to start from funding the place appropriately, providing support from various partners. I am a very incurable optimist, so I believe we have had one noble laureate from literature so we also have an opportunity of having one from science. We have to see how to work round it, otherwise if we just believe that everything is impossible, we may not be able to make progress. As far as the Zika virus is concerned, I am aware that already the ministry is asking the five big health agencies to come together to provide something as a risk assessment of Zika virus in Nigeria and possibly make recommendations to the government. Let us first see whether the virus exists and then define their movement and the areas where they are confined to and begin to see how active the viruses are and also look at which vector mosquito carries it, because we have plenty of mosquitoes in Nigeria. So we have to be sure which of the vectors we have that is transmitting the disease and we can from there begin to talk about vector control and also the virus behaviour, the presentation, the treatment, it has been associated with deformity of the head in Brazil well much of an association some people believe there is no cause and effect yet but for us we should make hay while the sun shines and so once we know where the viruses are and we can define the vectors we can begin to plan eradication of the vector and by extension of the virus so that we don’t allow the virus to spread within Nigeria so very soon an sure those agency will put together the risk assessment and then they will be able to tell the nation whether we are at risk or not at risk. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Navy Wives Embark on Cancer Awareness Nigerians Urged to Support National Heart Awareness Campaign Campaign Chiemelie Ezeobi The Naval Officers’ Wives Association (NOWA), weekend, led by the National President, Mrs. Theresa Ibas, kicked off a cancer awareness campaign to sensitise women in the barracks and without. The campaign started with a walk from Navy Town barracks in Ojo and extended to Otegbola Streer, Satellite Town, and ended with a lecture from

medical experts. Ibas said the association embarked on the exercise to raise breast cancer awareness in navy barracks to coincide with the International Cancer Awareness Month, October. Given that early detection of breast cancer is very important, she urged women to get tested periodically. She said, “We want to create awareness about breast cancer. This programme is in com-

memoration of World Breast Cancer day. I urge women and mothers to check themselves. “Amongst us, we discovered that cancer has dealt with our families and we saw the need to wake up and enlighten them on early detection. Asides awareness, we will discuss with our women given that we have doctors to advise us, because the idea of NOWA is to see to the welfare of our members and their families.”

Nigerians have been urged to ensure a healthier nation by supporting the National Heart Awareness Campaign with the “Spread the Heart Message” launched in Lagos recently. Speaking at the media launch of the National campaign, the Executive Director, Nigerian Heart Foundation, Dr. Kingsley Akinroye noted that the increase in cardiovascular disease among middle aged, working class Nigerians calls for serious concern.

“There is rapid rise in the prevalence of cardiovascular disease among middle age, working class Nigerian population. When you realise that this set of people form the cream of our nation’s work force, you can grasp how important this campaign launch is.” He noted that with knowledge and awareness on how to do the right thing, simple lifestyle and diet steps the trajectory of the lives and health of our nation’s workforce

would be different and these heart disease conditions can be prevented. Speaking further, Akinroye stated that the “Spread the Heart Message” calls for public and private sector participation as it involves all socio economic strata and ages. We are taking the ‘Spread the Heart Message’ campaign to every corner of Nigeria. It is the responsibility of all Private, public Organizations and indeed all Nigerians to come onboard.”

T H I S D AY THURSDAY, NOVEMBER 3, 2016

HEALTH

Wike’s Laudable Policy against Polio Odimegwu Onwumere writes that Governor Nyesom Wike of Rivers State has shown commitment to the fight against polio, following the new cases of the disease that vegetated in Borno State, but such commitment can be enhanced with proper primary healthcare and taking some lessons from the past administration’s polio policies “As a government, we have invested in the eradication of polio and we shall continue to support Rotary International to achieve this worthy objective,” said Governor Nyesom Wike of Rivers State on Friday, October 21, 2016. Wike reiterated his administration obligation to obviate polio and support the campaign against it. He said this when a section of Rotarians from the United States of America, under the auspices of International Director of Rotary International, led by Mr. Brad Howard, stopped over for him at the Government House, Port Harcourt. That was coming after the World Health Organisation (WHO) on August 11, 2016, confirmed three cases of polio in Nigeria. Albeit, the international health body had on 25th September 2015, announced that Nigeria was no longer on the polio endemic list. In a statement by the WHO about the feat of 2015, “The Global Polio Eradication Initiative (GPEI), the public-private partnership leading the effort to eradicate polio, called this a ‘historic achievement’ in global health. Nigeria has not reported a case of wild poliovirus since 24 July 2014, and all laboratory data have confirmed a full 12 months have passed without any new cases.” Buttressing its point, the World Health Organisation, added, “As recently as 2012, Nigeria accounted for more than half of all polio cases worldwide. Since then, a concerted effort by all levels of government, civil society, religious leaders and tens of thousands of dedicated health workers have resulted in Nigeria successfully stopping polio. “More than 200 000 volunteers across the country repeatedly immunised more than 45 million children under the age of five years, to ensure that no child would suffer from this paralysing disease. Innovative approaches, such as increased community involvement and the establishment of Emergency Operations Centres at the national and state level, have also been pivotal to Nigeria’s success.” In spite of this, with the new cases coming from areas (like Monguno Local Government Area, and south in Jere and Gwoza, Borno State) that were once suffering the torment of Islamic terrorists known as and called Boko Haram in the North-east, no case of polio has however been reported in Rivers State, apart from what a former Rivers State Commissioner for Health under ex-Governor Chibuike Amaechi, Dr. Tamunoiyoriari Parker stated during the first National Immunisation Plus Days, (IPDs) campaign against polio disease in 2012. Partker said, “Despite the increase in the number of people effected nation-wide in 2011, only one case of polio disease was confirmed in Rivers State in May, 2007 and in the past five years Rivers State has a clean bill of health on the polio disease, which was achieved by collaborative efforts of stakeholders and agencies in the state coupled with the deliberate effort of the state government to eradicate the disease.” But experts believe that more cases can spring up if urgent measures are not put

Governor Wike

in place to scuttle the menace headlong. And the fears of this might be the restlessness that Wike has shown against the scourge, hence he has been calling on all stakeholders and medical experts to rise up to the occasion in making sure that Nigeria is brought back to the WHO’s index as a free-polio country. It is evident that Wike has been working with stakeholders like the Rotary Club, whose field coordinator, Aminu Muhammad was it that confirmed the new cases of polio in the northern Borno State. The highlight of this is that Rivers State might not be free from polio if Wike has not been showing strong commitment to the fight against polio in the state, since the state had once recorded a victim, no matter the year. Wike and opinion leaders in Rivers State might learn that if over 1.5 million children were vaccinated by Rotary in Borno a week before the new find, Rivers State is not immune to polio. The find in Borno was said by the WHO that it was as a result of lackadaisical approach by the authorities in not detecting the virus which went spiral for five years due to the Boko Haram nuisance in the area. But Wike was invariably showing through his body language, suggesting that Rivers State

had every privilege to prevent the budding of polio since the state is not part of the areas which the WHO said is too hazardous to approach for vaccination. There might be some upheavals in some parts of Rivers State caused by unintelligent youths, but the Rivers government has every favour to share in a plan of the WHO to reach 25 million children before the year dingdongs its bell. Wike could be assuring the residents of the state that they have nothing to fear, remembering April 27 2016, when the WHO’s representative in Nigeria, Dr Riv Game Vas, visited him in Government House, Port Harcourt, and thanked him for his mettle in sending any form of Lassa Fever packing in the state, which was in the news early this year. Vas also thanked Wike and the country for the efforts in underneathing the country polio free in the past 21 months. But showing that he is open-minded to accept any policy that is people-oriented, Wike on May 2, 2016, during the swearing-in of the substantive president of the Customary Court of Appeal, Justice Gabriel Nwankwo in government House, said, “I will support any policy of

the Federal Government that will enhance the living standard of the people of Rivers State. It doesn’t matter who initiated such policy as long as it favours our people.” So, to win the battle of any eventuality of polio in Rivers State, Wike has to review some measures taken by the past government in Rivers State with which it fought the virus. In 2013, the then Governor Amaechi flagged-off the National Immunisation Plus Days Campaign against poliomyelitis in the state that year. Baby Faith Tom, one year and four months old; and Baby Pamela Engofa, aged three and half years, were the two kids that Amaechi dispensed with oral polio vaccine to flag off the National Immunisation plus days crusade against polio at the Degema Local Government Council Headquarters. Although, Wike had said that his government will make sure that the required attention is given to primary healthcare facilities across the state, when Vas visited him. He has to take this area seriously. And the primary healthcare might not be efficiently harnessed without the proper and thorough involvement of women. This is the reason it is palpable to take the message delivered by the wife of the governor, Justice Eberechi Nyesom Wike, seriously. On July 9, 2016, Justice Wike at the Christ Church, Port Harcourt, after she inaugurated the Mammogram Centre built in the church premises by the Christ Church Women’s League, had called for public-private partnership in the health sector. Her view was that this would enhance more people having entrée to reputable healthcare facilities. Justice Wike nonetheless called on women to acquiesce themselves for timely screening for breast cancer. Governor Wike might follow some tips that Parker dished out during the first National Immunization Plus Days, (IPDs) campaign against polio disease in 2012, that were used to curb polio in the state. Parker had hinted that there should be House to House polio immunization which commenced in the state on Saturday 18th February 2012 with the inclusion of churches, schools, playground, health facilities and all settlements and children less than five years of age, because the child rights law No. 10 of 2009 guarantees the right of the child to be immunized. Parker added, “To fight the disease, deliberate policy must be followed to overcome and eradicate it completely. Such policy thrust include, effective mass communication, health education and awareness creation, collaboration, surveillance and evaluation of eradication strategies.” It was learnt that during the Amaechi administration, the state government through the Ministry of Health betrothed in a laudable grassroots tilting polio vaccination operation. That administration made sure that there was free medical care programme. This helped patients enough in understanding and attending to their health challenges and the primary healthcare centres became a vehicle that assisted the past administration on immunisation services as well as other precautionary and therapeutic services, inter alia.

US Supports Saving Mothers, Giving Life Campaign in Cross River Martins Ifijeh Last week Saving Mothers, Giving Life (SMGL) Initiative concluded a productive weeklong, global team-building meeting, sponsored by United States Agency for International Development (USAID) in Calabar, Cross River State. The five-year $18 million US government initiative is a public-private partnership

that addresses the three primary delays associated with maternal and newborn health: the delay in seeking services, the delay in reaching care, and the delay in receiving high-quality care at a health facility. In 2014, Nigeria became the third country to adopt the initiative after successes were reported by the programme in Uganda and Zambia. The meeting, organised

by the Cross River State Government in partnership with USAID, brought together national and regional partners and key stakeholders to share updates on the progress of activities in Uganda and Zambia and guide inputs on expansion in Nigeria. The U.S. Consul General, John Bray, USAID Acting Mission Director, Aler Grubbs, and the Governor of Cross

River State, Prof. Benedict Ayade participated in the opening ceremony. SMGL team members worked together to provide solutions to problems, share lessons learned, and lay the groundwork for increased collaboration and technical assistance. “Health challenges in Nigeria are not always a result of limited access to facilities, but access to enough skilled

professionals and quality services within those facilities. Saving Mothers, Giving Life Initiative is helping reduce both maternal and neonatal mortality. We will continue to support and encourage the Cross River State Government in its efforts as we look to expanding the program into other areas in Nigeria,” said Consul General, John Bray. A woman dying from preg-

nancy and childbirth related complications is a major challenge in Africa and reducing maternal mortality has become a global priority. In Nigeria, the probability of a maternal death occurring is 1:13. In partnership with host countries and nongovernmental organizations, the U.S. Government has been working to not only reduce, but also end preventable maternal and newborn deaths globally.

THURSDAY NOVEMBER 3, 2016 T H I S D AY

THURSDAY NOVEMBER 3, 2016 • T H I S D AY

INTERNATIONAL Erdogan Cancels 72,000 Turkish Passports

email:foreigndesk@thisdaylive.com

In an apparent crackdown after the July 15 failed coup, Turkish President, Recep Erdogan, has

revoked the passports of 72,000 citizens.Reports indicate that an attempt to enforce the action

Obama on FBI: We Don’t Operate on Innuendo President Barack Obama made his first public comments about the FBI decision to disclose its new review into emails that could be relevant Hillary Clinton’s use of a private server while she was secretary of state. Speaking to NowThisNews in an interview released yesterday, Obama said he didn’t want to meddle in the process. But he said it was important to follow a practice of not allowing intimations or suggestions to pervade the public’s view of the case. “I do think that there is a norm that when there are investigations we don’t operate on innuendo and we don’t operate on incomplete information and we don’t operate on leaks,” Obama said in the interview, which was taped Tuesday. “We operate based on concrete decisions that are made. When this was investigated thoroughly last time the conclusion of the FBI, the

Zuma Drops Bid to Delay Gupta Report South African President, Jacob Zuma, yesterday dropped his court bid to delay the release of a report over alleged influence peddling in government as thousands marched in the capital Pretoria against the president. The rand strengthened more than 1 percent and bonds firmed in response to the news of the withdrawal, which analysts said was an indication the country still had strong institutions. The release of the report by the Public Protector, a constitutionally mandated anti-graft official, was suspended on Oct. 14 after Zuma’s application to the High Court. The hearing, which started on Tuesday, was due to continue soon. Thousands of people gathered at various points in the city. Some carried “Zuma must go” placards outside the court that was to decide on Zuma’s bid to delay the report on allegations of political influence by his wealthy friends. “My instructions are to withdraw the application and to tender costs,” Advocate Anthea Platt, without giving reasons. Zuma’s spokesman did not answer phone calls, email or text messages for comment. Protesters also demanded that state prosecutor Shaun Abrahams be removed from office. Abrahams had pressed charges of fraud against Finance Minister Pravin Gordhan, but then dropped them on Monday after popular support from both the political and corporate realms for Gordhan. Supporters of Gordhan and sympathetic financial analysts say all the charges could be a ploy by Zuma and his allies to discredit a finance minister who stood in the way of their securing access to lucrative government contracts.

conclusion of the Justice Department, the conclusion of repeated congressional investigations was she had made some mistakes but that there wasn’t anything there that was procecutable.” FBI Director James Comey sent a letter to members of Congress on Friday saying his bureau was looking into recently discovered emails that could pertinent to the investigation into Clinton’s use of a private server.

through the International Police (Interpol) was blocked, as the Interpol believed that it was politically motivated. Inside sources said the Turkish government has now concluded plans to use its various embassies to inform foreign governments of the cancelation of the passports. This, it hoped, would force them to review the affected citizens’ legal status, which might lead to their repatriation. It comes after the Turkish government shutdown 130 media outlets in a mass purge following the coup attempt. The increasingly authoritarian regime has purged the media, universities, schools, the police, judiciary and military of potential opponents, sacking over 100,000 workers.

The affected workers, particularly educationists, have had their passports revoked by the government, barring them from seeking employment outside the country or traveling abroad for any other reason whatsoever. It was reported that the first step of the plan was to “fabricate ‘a loss notice’ in a newspaper” on behalf of the targeted individual. Once the loss notice appears in a paper, the government cancels the passport. The people find out this ‘illegal’ cancelation only when they are about to go abroad at the airport venue. The police seize their passports and don’t let them go out. But it may also happen when you are out of Turkey. Many people who are

already out of Turkey face similar difficulties during the security check at the Customs. They are usually told that their passports are seen ‘lost’ in their system and advised to visit their Embassies or Consulates to solve the problem. However, when the people go to their Embassies, their passports are being seized without any explanation. Erdogan claims he resorted to taking the extreme steps because the July coup almost killed him. However, his response to the attempt has been criticised as the Turkish leader has been accused of attempting to consolidate his control on the nation by ousting people loyal to US-based cleric, Fethullah Gulen.

Erdogan also criticised the European Council and the European Union, which Turkey aspires to be a part of, for their failure to pay a visit to offer condolences, saying their criticism was ‘shameful’. The Director of U.S. National Intelligence, James Clapper, said on Thursday the purges were harming the fight against ISIS in Syria and Iraq by sweeping away Turkish officers who had worked closely with the United States. The head of U.S. Central Command, General Joseph Votel, said he believed some of the military figures whom the United States had worked with were in jail. Votel’s comments drew condemnation from Erdogan.

T H I S D AY •THURSDAY, NOVEMBER 3, 2016

BUSINESS/MONEYGUIDE

EU Commits €712m Grant to Nigeria’s Power Sector Obinna Chima The European Union (EU) yesterday disclosed that it had committed a total of €700 million grant to support Nigeria’s power sector between 2014 and 2020. The Ambassador/Head of Delegation of the EU to Nigeria and the Economic Community of West African States (ECOWAS), Mr. Michel Arrion, disclosed this at a media briefing in Lagos, ahead of the fifth EU-Nigeria Business Forum (EUNBF) schedule to hold in Lagos next week. Arrion said between 2008 and 2013, under a programme he termed the 10th European Development Fund, the global envelop of grant earmarked by the EU for Nigeria between 2008 and 2013 was about €750 million. But he explained that for the period, 2014 and 2020, the amount for Nigeria was reduced to about €512 million, adding that an additional financial instruments of about €200 million was also created. He said the fund was expected to help improve power situation

in Nigeria. “So, on the average, you can consider that we are spending €700 million in the period in six years. So, we are talking about €100 million per year. Energy is really a perquisite for any kind of development. You cannot develop health without energy; you cannot develop water and sanitation with energy. You cannot develop infrastructure in general, and of course it is also going to affect your trade. “We believe that lack of energy is probably the major hurdle to the economic development of Nigeria and that is certainly a sector where the EU would intervene efficiently in Nigeria in the coming years. But EU alone would not be able to fix the problems in the energy sector in Nigeria. “It is primarily for Nigeria to fix the country’s problems. But we can support the authorities. We believe that it is not only the public sector that can fix the problem, what we need is more private investments and more partnership between public and private companies. The missing

element to fixing the problems in the energy sector is obviously the access to finance,” the EU official said. According to Arrion, the EUNBF, would also focus on the diversification of the economy. He stressed that Nigeria’s comparative advantage is in the agriculture sector. “As you know, Nigerian farmers are producing a lot of agricultural products. But a lot of that is just subsistence farming, nothing is processed, nothing is transformed and no added value in the process. So, we believe a lot of diversification needs to take place, of course not taking away subsistence farming,” he added. Responding to a question on the outcomes of the previous EUNBF, he said at previous discussions, it was a general consensus that Nigeria has great potential. “But what is really missing is good governance and good management. Nigeria has enough land, enough labour to produce to substitute importation.

Global Business Confidence at 12-month High The latest Global Economic Conditions Survey (GECS) from the Association of Chartered Certified Accountants (ACCA) and the Institute of Management Accountants (IMA) released recently showed that global business confidence is at its highest in 12 months. However, it stated 45 per cent of companies in Africa reported that confidence fell in the third quarter, compared with global averages of 38 per cent respectively The Head of ACCA Nigeria, Toyin Ademola, while commenting on the report said two factors accounted for the current weakness. The first was the slump in commodity prices, which has hit export incomes, government revenues and investment. “The second is economic mismanagement in the region’s two biggest economies, Nigeria and South Africa, which has caused growth to slow sharply

in both countries. Corruption and political instability have dragged down economic confidence, damaging investment in both countries. In general, two very significant issues to manage in Africa are exchangerate volatility and rising costs.” The report found more respondents in Africa (56%) reported that currency volatility caused them problems than those in any other region. A related concern is increasing costs (also a problem for 56% of companies), as currency falls push up the cost of imports. The report found an uplift in sentiment in other parts of the globe. Business confidence in the U.S. improved for the third quarter in a row and currently at its highest level since last year. The recent improvement in confidence coupled with strong employment growth and high core price pressures were all reasons to think that the Fed will resume its tightening cycle

sooner rather than later. The report noted that the investment opportunities index fell to its lowest level since the final quarter of 2012, possibly indicating that uncertainty over the outcome of November’s presidential election is causing companies to put big plans on hold. Meanwhile, fears that headwinds from the U.K. vote to leave the E.U. in June could spread to the global economy have not been realised, with confidence among U.K. businesses holding up relative to the previous quarter – although it is still low, with respondents reporting a decrease in confidence outnumbering those reporting an increase. With protectionist sentiments on the rise across many nations, the November presidential election could have a significant impact on whether this improving confidence translates into genuine increases in employment and investment.

Heritage Bank Restates Commitment to Economic Growth Heritage Bank Plc has said it is committed to contributing to the growth of the Nigerian economy. Chairman of the bank, Mr. Akinsola Akinfemiwa said this at the bank’s premier investors’ forum held in Lagos recently. “Our ambition to emerge as a systemic important bank remains the underlying essence of our next growth phase strategy,” he added. The chairman of the bank, who was represented by Mr. Adetola Atekoja, a director of the bank noted that “the foundational element of our strategy – People, Partnership and Process will be recalibrated to match the rapidly changing needs of our customers, especially, as we deploy a full steam retail banking franchise.”

Akinfemiwa said the bank was on a growth track and not unmindful of the headwinds facing the domestic economy. According to a statement, Akinfemiwa added that “We remain very optimistic that the Heritage Brand will continue to surf over the current economic tide through our collective efforts to remain an enduring institution.” Looking into the future, he said the bank was confident that it would continue to grow by appealing to key client segments, especially in the retail space, an important and growing market and that they would also continue to focus on underpenetrated banking segments and building loyalty amongst the bank’s existing customer base.

He informed the forum that the business combination with Enterprise Bank Limited in September 2015 was a success, adding that this was reflective of the commitment of the staff, support of their customers and the degree of investors’ confidence in the bank. The chairman said over the last three years, the bank has committed its efforts and resources to the building of an enduring and resilient banking franchise in spite of the challenges in the macroeconomic space, adding that in the midst of the stormy realities presented by events within the political and economic environment, the bank has continued to pursue its strategic aspiration of not only being stable but stronger.

L-R: - Ambassador, Head of Delegation of the EU to Nigeria and Ecowas,H. E Michel Arrion; and Head of Trade and Economic Section, EU Delegate to Nigeria and ECOWAS, Filippo Amato, at a pre-event press conference on the 5TH EU-Nigeria Business Forum in Lagos...yesterday

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JUNE 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

2,893,190.01

---- 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 - 14%

OPEC DAILY BASKET PRICE AS AT TUESDAY, 1 NOVEMBER 2016 The price of OPEC basket of fourteen crudes stood at $44.53 a barrel on Tuesday, compared with $45.83 the previous day, according to OPEC Secretariat calculations. The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), 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 • THURSDAY NOVEMBER 3, 2016

Nigeria’s top 50 stocks based on market fundamentals

2-Nov-16

1-Nov-16

% Change

Capitalisation

EPS

P/E

P/S

Div. Yld

Price/ Book Value

01 Dangote Cement Plc

175.00

0.00%

2,982,088,795,875.00

9.56

18.30

5.51

4.57%

4.38

02 Nigerian Breweries Plc

145.00

146.01

-0.69%

1,149,719,628,760.00

4.50

32.48

3.86

2.47%

7.11

03 Guaranty Trust Bank Plc

23.60

23.80

-0.84%

694,575,829,686.40

4.90

4.87

1.75

7.42%

1.43

795.00

0.00%

630,161,720,340.00

19.41

40.75

3.78

3.67%

17.82

05 Zenith Bank Plc

14.81

0.00%

464,982,072,970.66

3.91

3.81

0.98

12.08%

0.67

06 Lafarge Africa Plc

49.80

47.50

4.84%

226,834,110,138.00

-6.71

-7.45

1.02

6.00%

1.63

380.00

0.00%

210,257,918,940.00 -14.43

-26.33

2.25

4.19%

0.56

08 Unilever Nigeria Plc

50.01

50.00

0.02%

189,202,645,462.50

0.69

72.24

2.85

0.10%

20.16

09 Ecobank Transnational Incorporated

10.18

10.71

-4.95%

186,798,431,368.70

0.23

45.70

0.36

5.90%

0.32

10 Presco Plc

43.85

0.00%

174,105,418,423.25

0.03 1,499.67

2.44

2.96%

4.16

11 Stanbic IBTC Holdings Plc

17.00

0.00%

170,000,000,000.00

2.04

8.35

1.44

0.59%

1.51

5.65

0.00%

163,443,039,715.15

2.56

2.23

0.48

9.65%

0.38

120.00

0.00%

156,297,732,360.00

3.31

36.30

1.01

2.87%

3.62

4.26

4.27

-0.23%

154,550,782,131.72

1.75

2.65

0.50

12.99%

0.39

15 Guinness Nig Plc

84.00

82.09

2.33%

126,494,607,792.00

-1.34

-59.76

1.18

4.00%

2.89

16 Total Nigeria Plc

332.50

345.00

-3.62%

112,891,010,802.50

31.13

10.60

0.46

4.24%

5.31

3.05

3.10

-1.61%

109,480,643,015.60

0.21

14.60

0.20

4.95%

0.17

150.86

0.00%

96,639,462,162.18

3.75

42.36

1.14

1.39%

3.94

6.20

0.00%

74,400,000,000.00

1.05

5.95

0.62

8.00%

1.26

190.00

0.00%

68,513,099,780.00

17.69

10.74

0.83

3.79%

3.99

19.00

0.00%

62,590,736,320.00

0.17

111.21

2.56

1.29%

5.18

4.47

4.70

-4.89%

53,794,746,456.18

-3.46

-1.50

0.33

14.42%

0.45

23 Julius Berger Nig. Plc

38.00

0.00%

50,160,000,000.00

0.24

156.96

0.48

3.95%

2.24

24 Flour Mills Nig. Plc

19.00

19.18

-0.94%

49,860,506,553.00

6.81

2.87

0.13

10.25%

0.51

25 Okomu Oil Palm Plc

47.00

0.00%

44,833,770,000.00

4.60

8.92

3.18

0.24%

2.51

0.93

0.87

6.90%

36,010,527,605.25

-0.37

-2.68

0.86

0.00%

0.51

18.60

19.20

-3.12%

35,728,077,598.20

2.44

7.66

0.50

5.35%

0.49

28 Fidelity Bank Plc

0.90

0.87

3.45%

26,066,327,122.80

0.39

2.28

0.18

17.98%

0.14

29 Diamond Bank Plc

1.08

1.04

3.85%

25,013,220,085.44

0.11

9.88

0.12

0.00%

0.11

30 Cadbury Nigeria Plc

12.95

0.00%

24,322,716,418.00

0.50

27.24

0.91

9.56%

2.50

0.84

0.86

-2.33%

24,183,951,225.84

0.31

2.95

0.25

9.89%

0.31

33.75

0.00%

23,625,000,000.00

2.28

14.77

3.54

3.41%

13.80

33 Custodian And Allied Insurance Plc

3.93

3.84

2.34%

23,115,726,286.35

0.76

4.88

0.65

3.77%

0.78

34 Wema Bank Plc

0.56

0.00%

21,601,701,005.92

0.06

10.24

0.46

0.00%

0.50

35 FCMB Group Plc

1.09

0.00%

21,584,954,751.29

0.61

1.78

0.13

9.17%

0.12

36 National Salt Co. Nig. Plc

8.00

0.00%

21,195,507,024.00

0.85

9.42

1.13

6.88%

2.87

37 Mansard Insurance Plc

1.93

0.00%

20,265,000,000.00

0.27

7.11

1.05

2.59%

0.96

38 Glaxo Smithkline Consumer Nig. Plc

15.00

0.00%

17,938,147,320.00

-2.54

-5.87

0.61

2.01%

1.95

39 PZ Cussons Nigeria Plc

17.75

0.00%

17,750,000,000.00

5.69

2.90

1.15

0.61%

0.44

40 Continental Reinsurance Plc

1.10

0.00%

11,410,018,743.20

0.33

3.07

0.51

11.88%

0.54

41 Honeywell Flour Mill Plc

1.14

0.00%

9,040,425,330.12

-0.40

-2.92

0.19

13.56%

0.57

42 Skye Bank Plc

0.60

0.58

3.45%

8,328,180,846.00

-2.93

-0.20

0.05

50.85%

0.08

43 Unity Bank Plc

0.64

0.66

-3.03%

7,481,176,282.88

-0.10

-6.34

0.12

0.00%

0.09

44 Wapic Insurance Plc

0.50

0.00%

6,691,369,126.00

0.11

4.72

0.90

5.88%

0.44

45 Cement Co. Of North.Nig. Plc

5.23

0.00%

6,572,424,716.18

0.44

11.81

0.59

1.91%

0.61

46 Resort Savings & Loans Plc

0.50

0.00%

5,664,866,202.00

4.68

0.11

0.02

0.00%

1.89

47 UACN Property Development Co. Limited

2.94

3.09

-4.85%

5,053,124,985.30

-0.05

-62.33

1.66

21.54%

0.16

48 AIICO Insurance Plc

0.63

0.00%

4,366,028,822.40

0.26

2.22

0.12

8.62%

0.43

49 Nigerian Aviation Handling Company Plc

2.60

2.57

1.17%

4,222,968,750.00

0.15

17.51

0.55

7.41%

0.71

50 Fidson Healthcare Plc

1.21

1.27

-4.72%

1,815,000,000.00

0.31

4.14

0.28

3.94%

0.30

04 Nestle Nigeria Plc

07 Seplat Petroleum Dev. Co. Ltd

12 Access Bank Plc 13 Forte Oil Plc. 14 United Bank for Africa Plc

17 FBN Holdings Plc 18 7-Up Bottling Comp. Plc 19 Dangote Sugar Refinery Plc 20 Mobil Oil Nig Plc 21 International Breweries Plc 22 Oando Plc

26 Transnational Corporation Of Nigeria Plc 27 U A C N Plc

31 Sterling Bank Plc 32 Cap Plc

TOTAL

8,811,723,149,300.01

TOTAL MARKET CAP

9,350,592,975,688.33

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

94.24%

Table 1 Market Statistics Mkt Indicators

Open 1-Nov-16

NSE All Share Index NSE Market Cap (N'Trillion)

27,252.48 9.36

27,223.08 9.35

-0.11 -0.11

113.39 8.83

113.17 8.81

-0.19 -0.19

Thisday BGL 50 Index Thisday BGL 50 Market Cap (N'Trillion)

Close 2-Nov-16

Change %

Table 3 Top 5 Gainers Stock

Open 1-Nov-16

Transnational Corporation Of Nigeria Plc Lafarge Africa Plc Diamond Bank Plc Fidelity Bank Plc Skye Bank Plc

Close 2-Nov-16

Change %

0.87

0.93

6.90

47.50 1.04 0.87 0.58

49.80 1.08 0.90 0.60

4.84 3.85 3.45 3.45

Table 4 Top 5 Losers Stock

Open 1-Nov-16

Ecobank Transnational Incorporated Oando Plc UACN Property Development Co. Limited Fidson Healthcare Plc Total Nigeria Plc

Close Change 2-Nov-16 %

10.71

10.18

-4.95

4.70 3.09

4.47 2.94

-4.89 -4.85

1.27 345.00

1.21 332.50

-4.72 -3.62

Market closes southward as ASI drops 0.11% Market pulse on the Nigerian Stock Exchange (NSE) today – Wednesday, November 2nd, 2016 ended on a negative note as the stock market closed red today. This was further highlighted by negative performances from the NSE Sub sectors: Banking, Consumer Goods and Oil & Gas (Save Insurance). Trading activities increased in volume as 202.71 million shares worth of N1.26 billion in 3,337 deals exchanged hands today. This is an increase from the 187.60 million shares worth of N2.16 billion in 3,065 deals which exchanged hands on Friday. Topping in volume terms were Dunlop Plc, Sterling Bank Plc and Transnational Corporation Of Nigeria Plc, while Nestle Nigeria Plc and Guaranty Trust Bank Plc ended trading as the most active stocks in value terms. The All Share Index (NSEASI) closed negative with 0.11% (-29.40) decrease to close at 27,223.08 from 27,252.48 the previous trading day. Market Capitalization depreciated in tandem to N9.35 trillion from N9.36 trillion of prior trading day. Similarly, the Thisday BGL 50 Index followed suit with a decrease of 0.19% to close at 113.17 from 113.39 recorded at the end of the previous trading day, while its market capitalization stood at 8.83 trillion from 8.83 trillion of the previous trading day. A total number of 18 stocks gained on the bourse today while 15 stocks declined, 65 leaving stocks unchanged. Transnational Corporation Of Nigeria Plc emerged as the day’s toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 6.90% to close at N0.93 per share. It was followed by Lafarge Africa Plc with a gain of 4.84% to close at N49.80 per share. Others on the gainers list include: Diamond Bank Plc, Fidelity Bank Plc and Skye Bank Plc; while on the decliners’ list, Ecobank Transnational Incorporated with a loss of 4.95% to close at N10.18 per share. It was followed by Oando Plc with a loss of 4.89% to close at N4.47 per share. Others on the decliners list include: UACN Property Development Co. Limited, Fidson Healthcare Plc andTotal Nigeria Plc. REQUIRED DISCLOSURE This report has been prepared by BGL Plc. BGL Plc does and seeks to do business with companies covered in its research reports. As a result, the firm may have a conflict of interest that could affect the objectivity of this report. Investors should use this report as one of many other factors in making their investment decisions.

For more details go to www.thisdaylive.com

T H I S D AY •THURSDAY, NOVEMBER 3, 2016

MARKET NEWS

Fidelity Bank’s Profit Before Tax Down 28.7% in Nine Months Goddy Egene and Nosa Alekhuogie Fidelity Bank Plc has reported a profit before tax (PBT) of N9.8 billion for the nine months ended September 30, 2016, showing a decline of 28.7 per cent from the N13.8 billion recorded in the corresponding period of 2015. Similarly, profit after tax (PAT) fell from N11.445 billion to N8.753 billion.

However, the bank reported gross earnings of N110.3 billion, showing a marginal increase of three per cent from N107 in the period under review. Its deposit base also grew by 3.4 per cent to N795.6 billion, from N769.6 billion. Commenting on the financial results, the Managing Director/ Chief Executive Officer of the Bank, Nnamdi Okonkwo said the bank’s performance was

indeed reflective of the recessionary environment characterised by lower government revenues, rising inflation, lower consumer disposable income, significantly tougher operating environment in all sectors and the impact of these headwinds on asset quality and foreign trade transactions. “We continued with the disciplined execution of our medium term strategy and recorded decent growth on

some key operational metrics while moderating the impact of the headwinds above on other financial indices,” he said. Explaining the decline in PBT, Okonkwo said: “PBT declined largely due to “a 102.0 per cent year-on-year (YoY) growth in impairment charge (N4.0 billion) driven significantly by increased provisions made in the second quarter (Q2) and third quarter (Q3) of 2016 (N4.1 billion and

N3.2 billion respectively) due to the impact of the devaluation of the local currency (naira) on our trade finance portfolio and some critical sectors affected by the weaker macroeconomic indices.” He added that a 95.7 per cent (N1.3 billion) decline in dividend income on equity investments as well as a 8.9 per cent growth in operating expense were also responsible for the decline in profit.

According to him, growth in operating expenses was driven essentially by increased technology and advert costs. “The interest income growth was largely driven by 25.6 per cent (N5.4 billion) growth in interest income on loans while interest income on Liquid assets increased by 13.5 per cent (N0.9 billion) for the quarter”. Okonkwo said.

DAILY STOCK MARKET REPORT T H E

N I G E R I A N

STO C K

E XC H A N G E

THURSDAY, NOVEMbER 3, 2016 • T H I S D AY

MARKET NEWS

NSE, Vetiva, Lotus Capital, Stanbic IBTC Empower Operators on ETFs Goddy Egene The Nigerian Stock Exchange (NSE) in partnership with the Exchange Traded Funds (ETFs) issuers, Vetiva Fund Managers Limited, Lotus Capital Limited and Stanbic IBTC Asset Management is set to organise its annual NSE ETFs. The workshop is targeted at investor community, pension fund managers, insurance companies, dealing members, fund and asset managers and

regulators. The training programme will come up on Monday, November 7, 2016. Speaking on the programme, the Executive Director, Capital Markets, NSE, Mr. Haruna Jalo-Waziri, said: “The workshop emphasises the exchange’s drive towards developing and promoting Exchange Traded Products (ETPs). It will provide our intermediaries with necessary exposure and skills as it relates to ETFs product sales. The workshop will also focus on

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.

NSE’s partnership with MSCI and its benefits to our markets, as well as highlights of success stories and learning points from other jurisdictions.” Speaking in the same vein, the Head, Secondary Market, NSE, Mr. Dipo Omotoso, said: “The NSE ETF Workshop will feature presentations and panel discussions on topics aimed at deepening the knowledge of key stakeholders on investing in ETFs. Participants will be exposed to how ETFs are constructed, why they may

Investors can buy these ‘shares’ on the 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

be attractive to investors, how they may be helpful in investment strategy. At the workshop, participants will also be provided with Insight to indexing and the future of the ETP marketplace in Nigeria and Africa as a whole.” Some of the speakers for the event include: Gareth Alison of Morgan Stanley Capital International (MSCI); Charbel Azzi of S&P Dow Jones Indices; and Nerina Visser, an independent ETF strategist and advisor.

The NSE has attracted ETFs in the last few years. Vetiva Fund Managers Limited last month listed the Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund (VS&PETF). The VS&P ETF would be the first bond ETF to be listed on the NSE, giving investors access to Nigerian Federal Government Bonds in retail investors. It will also provide an opportunity for every Nigerian to invest in Federal Government Bonds. At current pricing, investors

will be able to purchase a unit for as low as N150 and have access to attractive bond yields. According to the Managing Director of Vetiva Fund Managers Limited, Mr. Damilola Ajayi said: “The listing of the VS&PETF traded fund is in line with the federal government’s plan to enhance financial inclusion. For the first time in Nigeria, investors now have access to Federal Government Bonds through a product that will be listed on the NSE.”

Naira as at 31-Oct-2016, unless otherwise stated 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 125.04 Nigeria International Debt Fund 216.99 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 0.69 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 Income 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 125.78 11.96% 217.99 8.43% info@acapng.com Offer Price Yield / T-Rtn 0.70 12.26% ammf@aiicocapital.com Offer Price

Yield / T-Rtn

100.00

16.42%

enquiries@arminvestmentcenter.com Bid Price 12.62 290.67 22.73

Offer Price 13.00 298.43 23.41

Yield / T-Rtn 3.53% 4.00% 3.08%

1.00

14.06%

investmentcare@axamansard.com Bid Price 101.42

Offer Price 102.06

Yield / T-Rtn 1.74%

1.00 1.00 13.93% investmentmanagement@chapelhilldenham.com Bid Price 2.08 9.28

Offer Price 2.13 9.52

Yield / T-Rtn 2.18% -5.81%

82.77

84.89

2.05%

invest@fbnquest.com Bid Price 1,073.34 110.68 100.00 $102.11 $101.92 113.02

Offer Price 1,074.40 102.51 100.00 $102.69 $102.51

Yield / T-Rtn 4.75% 0.95% 12.75% 5.84% 5.66%

114.55

13.79%

fcamhelpdesk@fcmb.com Bid Price 0.93 2.52

Offer Price Yield / T-Rtn 0.95 3.30% 2.52 8.18% coralfunds@fsdhgroup.com

Bid Price 2,207.50

Offer Price 2,233.72

Coral Income Fund 2,054.68 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 1.49%

2,054.83 8.62% enquiries@investment-one.com Offer Price

Yield / T-Rtn

Vantage Guaranteed Income Fund

1.00

15.01%

Vantage Balanced Fund

1.64

1.66

0.70%

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 11.51% Lotus Halal Fixed Income Fund 992.07 992.07 -0.79% 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 9.61 9.69 -1.77% Meristem Money Market Fund 10.00 10.00 13.88% 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 1.03 1.05 4.76% PACAM Fixed Income Fund 10.29 10.33 3.07% 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 107.20 107.95 5.23% 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 1.22 1.22 8.45% 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 1,825.84 1,838.63 8.85% Stanbic IBTC Bond Fund 152.10 152.10 3.41% Stanbic IBTC Ethical Fund 0.80 0.81 7.33% Stanbic IBTC Guaranteed Investment Fund 181.41 181.41 6.91% Stanbic IBTC Iman Fund 137.88 139.60 1.89% Stanbic IBTC Money Market Fund 100.00 100.00 15.99% Stanbic IBTC Nigerian Equity Fund 7,743.51 7,846.96 7.74% 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 1.14 1.16 8.10% United Capital Bond Fund 1.26 1.26 16.21% United Capital Equity Fund 0.68 0.70 -7.53% 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 9.69 9.86 1.53% Zenith Ethical Fund 11.24 11.35 -1.89% Zenith Income Fund 16.68 16.68 3.97%

REITS

NAV Per Share

Yield / T-Rtn

11.58 115.57

3.99% -0.24%

Bid Price

Offer Price

Yield / T-Rtn

8.87 77.55

8.97 79.01

-7.37% -6.82%

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

2.67 7.27 12.41 17.01 129.49

2.71 7.35 12.51 17.21 131.49

15.45% 13.69% -1.11% -11.39% -

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.

THURSDAY NOVEMBER 3, 2016 • T H I S D AY

NEWSEXTRA

Court Convicts Four Companies Linked to Patience Jonathan for Laundering $15.7m Reserves sentence pending the end of trial Davidson Iriekpen A Federal High Court in Lagos yesterday convicted the four companies allegedly used by a former Special Assistant to President Goodluck Jonathan, Waripamo-owei Emmanuel Dudafa, to launder $15,591,700. The trial judge, Justice Babs Kuewum, convicted the companies after the counsel to the Economic and Financial Crimes Commission (EFCC), Rotimi Oyedepo, had reviewed the facts of the charge and agreed with by the directors of the companies. The companies convicted by the court are: Pluto Property and Investment Development Company Limited, Seagate Property and Investment Development Company Limited, Transoceanic Property and Investment Development Company Limited, and Avalon Property and Investment Development Company Limited. The purported companies’ directors had earlier pleaded guilty on behalf of the companies. They are Friday Davis: Agbo Baro; Kola Fredrick; and Taiwo Ebenezer and China John. The four companies were charged alongside Dudafa, a lawyer, Amajuoyi Azubike Briggs, and Adedamola Bolodeoku, a senior staff of Skye Bank Plc, on alleged $15.591,700, which the former First Lady, Mrs. Patience Jonathan, is laying claim to. Reviewing the facts of the charge against the four companies yesterday, Oyedepo informed the Justice Kuewumi led-court that Pluto Property and Investment Development Company Limited, between November 14 to 19, 2014, retained the sum of $1,940,500, $1.2 million, $1,340,700, $1,895,400, and $1.2 million in its account number 2110002207:and 2110002238 domiciled with Skye Bank. He also stated that Transoceanic Property and Investment Development Company Limited also retained in its accounts number domiciled with Skye Bank the sum of $1,897,700, between February 21 and November 19, 2014. Oyedepo further informed the court that Seagate Property and

Investment Development Company Limited, also retained in its Skye Bank accounts number 2110002243 the sum of $1,839,900. While Avalon Property and Investment Development Company Limited retained the sum of $250,000, in its account number 0122493290, domiciled with WEMA bank Plc, on February 28, 2015. He informed the court that the said monies were proceeds of crime, and they were paid into the four companies’ accounts by one Festus Iyoha, who was a domestic servant at the State House, Abuja. He also informed the court that the said Iyoha had paid the monies into the companies’ accounts at the order of the first defendant in the charge, Dudafa. Oyedepo after reviewing the facts of the charge, also tendered the documents such as the companies’ bank mandate forms, account opening packages and the CAC’s Forms 2, which indicated that the purported directors are major shareholders in the companies. However, lawyers representing other accused persons, Gboyega Oyewole, Ige Asemudara and Joseph Okobieme, urged the court to allow their clients to go through the documents sought to be tendered by the prosecutor, saying that they were all charged on the offence of conspiracy, which is count one of the charge. The lawyers also stated that admitting of the documents, would have negative impact on their clients. Upon the submission made by the lawyers, the prosecutor pleaded with the court to expunge the name of Dudafa, Briggs and Bolodeoku from the count one. Consequently, the court admitted the documents sought to be tendered by the prosecutor. Besides, the court asked the purported directors if they agreed with the facts reviewed by the prosecutor, and they all stated that they agreed with that all the facts. Consequently, Justice Babs Kuewumi pronounced all the four companies guilty as charged but declined to pronounce sentence on them. The court stated that sentence will be determine at the conclusion of

Manufacturers Get FX Boost as CBN Sells $330m in 60-day Forwards Obinna Chima The manufacturing sector received a boost yesterday following an intervention of the Central Bank of Nigeria (CBN) in the settlement of the valid applications of 60-day forwards funding deals in favour of agricultural, machinery and raw materials sectors. In all, it was gathered that forwards deals totaling $330.09 million was the total request from the various sectors in the secondary interbank market, thereby providing a boost to the manufacturing sector. The forwards deals comprised of $177.32 million under the 60day forward sales and $152.77 under the 90-day category. THISDAY reported last Monday that desirous of ensuring

that manufacturers get the required foreign exchange for the importation of critical raw materials as well as meeting the pent-up demand for the greenback, the CBN would sell $500 million through FX forwards to banks, for onward sales to their customers. The move, which is also aimed at boosting economic activities in the country, was to cater to some of the FX demand of manufacturers that want to import plants and machinery, raw materials and agriculture equipment. A top official of the CBN, who disclosed this to THISDAY has said banks were notified last week and given till noon today to send the list of FX requests from their customers in the manufacturing sector.

trial of other accused persons in the matter. Justice Kuewumi held that “in view of the facts stated by the prosecutor, and based on the evidence tendered and agreement of the companies’ directors. The prosecution has proved its case beyond reasonable doubt. “The companies are found guilty in count 2,3,4,5,6,7,8, and 9. In order not to prejudice the case of first, second and third defendants, sentencing them is hereby reserved pending the end

of the trial of the first, second and third defendants.” The four companies linked to Patience Jonathan namely: Pluto Property and Investment Development Company Limited, Seagate Property and Investment Development Company Limited, Transoceanic Property and Investment Development Company Limited, and Avalon Property and Investment Development Company Limited, through their purported directors, had pleaded guilty when they were last arraigned before

Justice Babs Kuewumi led-court. Upon the guilty pleas of the purported directors of the companies, the court adjourned till yesterday, for the review of the matter. The matter has been adjourned till December 16, for continuation of trial of the three other accused persons. The EFCC in a second amended charge marked FHC/337C/16, alleged that the three accused persons alongside the four companies, between November 13,

2013 and March 31, 2015, conspired with one Sombre Omeibi, who is now at large, to retain the sum of $15,591,700, which them reasonably ought to have know forms part of the proceeds of an unlawful act, and thereby committed offences bordering on money laundering, stealing, The EFCC also alleged that the said money was wired through account numbers: 2110002207; 2110002245; 2110002238; 0122493290; 2110002252; domiciled in Skye Bank Plc.

MEN IN POWER

L-R: Minister of Solid Minerals Development, Dr. Kayode Fayemi; Secretary to the Government of the Federation (SGF), David Babachir Lawal; Minister of Interior, Abdulrahman Bello Danbazau; and Minister of State for Solid Minerals Development, Abubakar Bawa Buari, during the Federal Executive Council (FEC) meeting, at the Presidential Villa in Abuja... yesterday Godwin Omoigui

ASUU Knocks Buhari’s Change Agenda, Asks Nigerians to Rise for Revolutionary Change Ademola Babalola in Ibadan The current perceived incompetence of the All Progressives Congress (APC) administration to tackle the myriads of problems confronting Nigeria yesterday came on the front burner of a public discourse as the Academic Staff Union of Universities (ASUU) knocked President Muhammadu Buhari’s change agenda. The ASUU’s National President, Professor Biodun Ogunyemi, who led the talks, described the change mantra of the ruling party as cosmetics change, and therefore, called on Nigerians to get ready for a real revolutionary change. Ogunyemi, who was the guest of honour at a public lecture and distinguished service award organised by the University of Ibadan chapter of the union, at the Trenchard Hall of the university, said ASUU is ready to take the lead and educate Nigerians on this development. The ASUU president stated that the current Nigerian leaders seem not to have any template to govern Nigeria, but only come about to play cards with the development of the country. He challenged Nigerians to stand up and take their future in their hands in a courageous and real revolutionary change, to be led by

the union which is set to start from the walls of Nigerian universities. Speaking on the theme of the public lecture entitled: ‘Good governance: A Surgical Strike against Economic Recession’, Ogunyemi stated that “we have two in one events today. We will also engage the Nigerian state on many issues that affect us on good governance, especially to develop Nigeria and what is required to do so. “Nigeria is our pride. In the diversity, lies our strength, and in unity, lies the basis of our struggle. “Comrades, ASUU is not pleased with what is happening today for at least three reasons. In the first place, as a union of intellectuals, we cannot stay aloof. We cannot watch helplessly while the ruling class continues in its act of debasement of the country. “What has happened in this country in the last 10 years or so should be enough to transform this country if not to another Japan, but at least maybe to another Malaysia or Singapore. But unlike Malaysia or Singapore, what was sold to us in Washington consensus. I am sure my colleagues will talk more about it. “And that was what produced Structural Adjustment Programme (SAP). What we’re having now is SAP in another form. Somebody

came up and said I will not devalue the naira, what is happening to the naira today? A free fall! Somebody said I will not increase the price of petroleum, what is happening now? The price is almost doubled! And it is not impossible that in another few months, if we don’t put our acts together, we will just wake up and see that the price of pump price would be swayed. “Is this the kind of change you asked for, a change without transformation? Nigerians asked for change, Nigerians did not asked for second enslavement. Did we? That is why we must be interested in what is happening in the country. “It’s like the Nigerian ruling class do not have a template for governance or development. As long as that continues, we’ll be regressing and not progressing. “For those who are calling themselves progressives, we are yet to see the progress which the progressives are building. “Freedom is not a free gift. It must be fought for. It’s not a free gift. There is no nation that enjoys freedom without fighting for it and grows. “Nigerians, we have not asked for our freedom, if that must happen, the change they’re talking about must start from our campus. “We must sow the seed of that change-the correct change. The

change they are talking about is cosmetics. We are talking about revolutionary change. Are we prepared for that? We need to gird our loins, as ASUU is committed to doing that.” In the same vein, the guest lecturer, Dr. Biodun Adedipe, said: “Good governance can trigger economic recovery as decision, execution and outcomes of government activities at the national and sub-national levels aim only at common good.” He said Nigeria needs a structural overhaul of the economy and must be ready to do things differently and appropriately. The guest lecturer also decried the lack of roadmap for Nigeria to be industrialised, and also condemned persistent blame of recession on fall of crude oil. Adedipe said: “It is an escapist mentality to adduce the current recession (which has started to abate though) to the dampened crude oil prices in the international markets. “The fundamental problems are fiscal indiscipline, crony capitalism, lack of a development agenda, and selfish/parochial interests. “There was no commitment to the roadmap for Nigeria to become industrialised i.e the National Industrial Revolution Plan (NIRP, 2014) is a mere document.

THURSDAY NOVEMBER 3, 2016 • T H I S D AY

NEWSEXTRA

Inconclusive Polls: Senate Threatens to Shut down Plenary after Dec 10 Suspends amendment of Electoral Act on substitution of dead presidential, gov candidates We can’t conduct relection without security guarantees, says INEC Omololu Ogunmade and Onyebuchi Ezigbo in Abuja The Senate yesterday threatened to boycott sittings if by December 10 the Independent National Electoral Commission (INEC) fails to conduct outstanding rerun elections in

Rivers State. This resolution was the fallout of a motion moved by the Deputy Senate President, Senator Ike Ekweremadu, in which he alleged flagrant breach of constitutional and Electoral Act 2010 provisions as well as disobedience to court

Saraki: Social Injustice, Corruption in IDP Camps Inexcusable Omololu Ogunmade in Abuja Senate President, Bukola Saraki, yesterday said increasing cases of social injustice such as rape, diversion of food items and other corruption related matters in the Internally Displaced Persons (IDPs) camps were inexcusable. He also pledged the cooperation of the Senate in ensuring quick passage of bills to help address the crisis of the IDPs in the country. Saraki, according to a statement by his Special Adviser on Media, Chuks Okocha, made the remarks when the United Nations High Commission for Refugees (UNHCR) led by Mrs. Angele Dikongue-Atangana visited him at the National Assembly, Abuja. “It is disheartening and heartless when you read and hear of cases of corruption in the supplies of food items, when you see cases of malnutrition and mortality in the IDPs. When you see children with cases of malnutrition and you know there can be speedy recovery

when the necessary drugs and nutritional items are provided with the necessary food items,” Saraki was quoted as saying. He pledged the preparedness of the National Assembly to cooperate with the UNCR in addressing the challenges facing various IDPs in the Middle Belt region of Nigeria. According to the statement, Saraki told the leader of the delegation that even though the Senate had no standing or special committee on the IDPs, the upper chamber would yet be mindful of its legislative duties to the IDPs adding that some committees had been saddled with the responsibilities of tackling poverty and its related challenges. He pledged the cooperation of the Senate and House of Representatives on a legislation that would enhance the welfare of the IDPs. He also pledged that National Assembly would help to facilitate the domestication of the Kampala Convention on Statelessness and Protection of Refugees.

orders by INEC’s failure to conduct outstanding elections. Ekweremadu in his motion, expressed dismay over the decision of the electoral body to act on the resolution of the Senate on September 27, 2016, which implored it to conclude all pending rerun elections in the country. He said it was appalling that INEC had continued to act in breach of Sections 14(2c) of the 1999 Constitution which he said guaranteed the participation of all parts of Nigeria in the governance of their country. He said INEC’s perceived recalcitrance against the conduct of the elections also violates Section 76 of the Constitution which orders INEC to conduct elections into the Senate and House of Representatives on an appointed date.

Ekweremadu who lamented non-representation of the senatorial districts of Rivers State in the activities of the Senate for almost a year, described INEC’s action as not only an affront to various laws of the land but also unfair to the entire people of the state. Whereas Ekweremadu’s initial prayer gave INEC the ultimatum to conduct the election before the end of this month, failing which he said Senate should suspend plenary, the Chairman, Senate Committee on Independent National Electoral Commission (INEC), Senator Abu Kyari, later informed the parliament that INEC had assured the committee to conduct the election on December 10. The information provided by Kyari therefore led to an amendment to the prayer, asking INEC to conduct the elections

on December 10, failing which it said the Senate would shut down plenaries. Ekweremadu said: “We observe that in spite of Senate resolution 016/02/16 of September 27, 2016 calling on the INEC to immediately conclude all pending rerun elections in the country, INEC has failed, refused and or neglected to conduct rerun elections in Rivers State into the Senate, House of Representatives and State Houses of Assembly. “We also observe that the failure of INEC to conduct the rerun elections in Rivers State within the time frame ordered by the respective elections tribunals and the courts is in breach of the Electoral Act and Section 76 of the 1999 Constitution is endangering the nation’s democracy. “Further observe that nonrepresentation of the entire people

of Rivers State in the Senate and some constituencies of Rivers State in the House of Representatives and State Houses of Assembly is in breach of Section 14 (2c) of the 1999 Constitution which enjoined the participation of every part of this country in the governance of Nigeria and this endangers peace and order in Rivers State. “Further observe that failure of INEC to conduct elections in Rivers State has continued to deny the people of Rivers State their constitutional guaranteed rights to be represented in the legislative houses where laws affecting them are being made and endangered probable anxiety amongst people of the state. “Accordingly resolves that INEC should conduct the elections on

CONT’D ON PAGE 53

Chukwuka Okonjo Receives Ghana National Award The Obi of Ogwashiukwu and a Trustee of the Nigeria Labour Congress (NLC), Professor Chukwuka Okonjo, has been conferred with the highest civil national award from the government of Ghana. The award, conferred on him by President John Dramani Mahama recently, was in recognition of his contributions to the country’s education system. Okonjo, father of the two-time former Minister of Finance, Dr. Ngozi Okonjo-Iweala, is a renowned mathematician and economist who worked for a long time in Ghana as a United Nations staff and later as a consultant to the Ghanaian Government. He joined the United Nations system in 1974 as an official based in New York with his duty station at Accra, Ghana as the Director of the Regional Institute for Population Studies (RIPS) at the University of Ghana, Legon, Accra. He worked as a Professor of Economics at the University from 1974 to 1985 at a time the country was going through severe economic and political difficulties. According to a statement, during that time, Professor Okonjo “installed the first African population information network popularly known as the Population Information and Documentation System forAfrica (POSA) valued at $350,000. “He also created a 12 months Master of Arts (M.A) programmes,

18 months Master of Philosophy (M.Phil.) and 36 months Doctor of Philosophy (Ph.D) degrees in Population Studies at the university. Over 437 post graduate students successfully completed their studies under his leadership. “Okonjo later left the United Nations in 1985 and worked as the Education Adviser to Ghana’s Minister of Education and Culture where he was instrumental in conceptualising and implementing several reforms in the structure and organisation of the minister,” the statement added. It also stated that some of the reforms included reducing the length of pre-tertiary education from 17 to 12 years, increasing secondary school admission from 26,000 to 260,000 and growing primary school enrolment at a rate of 12 per cent per annum (twice the rate approved by the World Bank for Ghana). In recognition of his outstanding contributions, Okonjo was accorded the National Service Award in June 1982 for the support he gave to the National Service Scheme of the Ghanaian Government. Other renowned persons who also received the honours included Globacom Chairman, Dr. Mike Adenuga, Jr., John Henry Martey Newman, Nana Ato Dadzie, Professor Kwesi Botchwey, Nana Kwame Akuoko Sarpong, Ato Kwamena Ahwoi, Joseph Henry Owusu Acheampong, Dr Kwabena Duffuor and John Sackah Addo.

WELCOME TO DAMATURU

Yobe State Governor, Ibrahim Gaidam (right),receiving the National Commissioner of the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC), Mr. Yakubu Muri Tukur, when a team of the RMAFC paid a courtesy on him at the Government House, Damaturu.... yesterday

House to Investigate BPE for Violation of Fiscal Responsibility Act C’ttee queries NIMASA over N66m extra-budgetary spending Damilola Oyedele in Abuja The House of Representatives has resolved to investigate the Bureau of Public Enterprises (BPE) for various infractions of the Fiscal Responsibility Act 2007, including the failure to provide audited accounts for the financial years 2012-2015, and non-remittance of its operating surplus of N81.8 million in 2007. The House said the action of the BPE violated Section 22 (1) and (2) of the Public Enterprises (Privatisation and Commercialisation) Act, 1999 which compels the Bureau to keep proper records and cause them to be audited by auditors appointed from the list and in accordance with the guidelines supplied by the Auditor General of the Federation. It therefore mandated its Committee on Privatisation and

Commercialisation to organise an interface with the BPE on the allegations, and report back within four weeks for further legislative action. The resolution followed a motion sponsored by Hon. Abbas Tajudeen (Kwara APC) who accused the BPE of a lack of probity, transparency and accountability. “A grievous breach of the law for many years by an essential government organisation like the BPE has exposed the failure of the Auditor General of the Federation to live up to his constitutional duties of auditing public accounts to ensure accountability, transparency and fiscal responsibility,” he said. Abbas added that the objectives for the establishment of the National Council on Privatisation and the BPE to restructure moribund and under-. performing public utilities to benefit present and future generations of

Nigerians cannot be realised since the BPE has not kept regular financial records of its operations. “...and can therefore not be trusted with overseeing the huge financial operations of commercialisation and privatisation of public enterprises,” he added. In another development, the Public Accounts Committee (PAC) has queried the Nigerian Maritime Administration and Safety Agency (NIMASA) for extra budgetary spending to the tune of N66 million in 2008 and 2010. The unauthorised expenditure was discovered in the 2010 report of the Auditor General, with the recommendation that the money be returned to the federation account as the purpose of payment was hazy. The 2010 report accused NIMASA of making separate payments amounting to N41.2 million to companies and

individuals without due process, and another N25 million to one company for unclear reasons. The agency however explained that the N25 million was donated as part of its corporate social responsibility, to the National Chamber of Shipping (NCS). Appearing before the Hon. Kingsley Chinda ( Rivers PDP) led committee, the Director General of NIMASA, Mr. Dakuku Peterside, however, could not provide documents to back the expenditure despite the explanation. Peterside added that some of the payments were used to settle the companies and individuals for services rendered. The Deputy Chairman of PAC, Hon. Ibrahim Baba, who presided over the meeting directed that the Minister of Transportation, Mr. Rotimi Amaechi, to explain the rationale behind the unauthorised expenditure.

THURSDAY NOVEMBER 3, 2016 • T H I S D AY

NEWSEXTRA

Govt will Not Regulate Social Media, Says Presidency US, UK to support Nigeria on press freedom

Paul Obi and Adedayo Akinwale in Abuja As Nigeria joins the rest of the world to celebrate the International Day to End Impunity, Crimes against Journalists, the presidency yesterday said the federal government would not regulate social media but would appeal to the conscience of Nigerians to remain ethical in the expression of free speech. The Senior Special Adviser to the President Muhammadu Buhari on Political Matters, Senator Babafemi Ojudu, who stated this at an event to mark the day organised by Campaign Against Brutality and for Safety of Journalists in Africa (CABSOJA), said to regulate social media would strangulate the rights to press freedom, a basic antidote to democracy. Ojudu said: “I do not believe in regulation because regulation is going to take away the freedom in the media and I don’t want to canvass for the regulation of the social media. Let the media

be unfettered in their reports. “The only thing we should do is to plead to their conscience. How many people are you going to regulate? How many people are you going to take to court? Somebody goes on Facebook and bears fake name with no address. How do you trace him? he asked. On the purported bill before the National Assembly to regulate the practice of journalism in and social media in Nigeria, Ojudu said: “No, I do not support any bill that will regulate the practice of journalism in Nigeria because I believe that people should be free to inform. The thing we should do is to appeal to individuals going into journalism to look at the ethics. “Journalism can regulate itself if practitioners are responsible. Responsible people should go into journalism and let me also say that the society itself provides sanction for journalism,” Ojudu submitted. Also, both the United States and United Kingdom governments disclosed at the

event their resolve to support press freedom in Nigeria. US Information Officer, Mr. Russell Brooks, said in too many parts of the world, journalists live are at risk because they always try to expose a lot of injustices that exist in all parts of the world. He noted that based on this, Journalists run the risk of being arrested, imprison, kidnapped and also at the risk of being battered for doing their jobs, while trying to make the world a better place. Brooks stated that “a free press is the value of the US and we try to promote that value wherever we are, so, I encourage you to

continue to do this work, and I look forward to working with NUJ, to support your activities, to supporting the effort to protect journalists as they do their jobs, to work with you when we mark world press freedom in 2017.” On his part, the Press and Public Relations Officer, UK embassy, Mr. Joseph Abuku said there was need for a strong laws in Nigeria that would ensure journalists discharge their duties without harassment, or brutalisation. He also harped on the need for a strong institutional framework to be strengthened in order to allow journalists do their work efficiently.

Abuku noted that, “the UK stands for free press and freedom of speech, and any back room approach to muscle that would be frowned upon by the UK. You have full support from the UK high commission, journalists need to do their job unharrased and protected.” The founder of CABSOJA and Managing Director of Fresh News TV, Mr. Desmond Uthowen, said there should be speedy dispensation of justice in cases involving brutalization of journalists, noting that the organisation would give pro bono service for any journalist brutalised. Also, the legal adviser to the

group, Barr. Ugochukwu Ezekiel said the group would sponsor a private bill in the National Assembly that bothers of the institutional framework for the practice of journalism in the country. He stressed that, “the bill is the institutional framework for the practice of journalism in Nigeria and for such a bill to be success, there is need for wider consultation, this is the kick off of something that will go far. We are going to consult with key stakeholders in the industry, we are going to consult with the NUJ, it will be a total package, not only insurance, other areas would be considered.”

FG Warns States over Refusal to Access N41bn UBEC Fund Paul Obi in Abuja Following the deplorable state of infrastructure in the educational sector in the country, the federal government yesterday warned the 36 state governments against their refusal to access the N41 billion Universal Basic Education Commission (UBEC) fund earmarked for education programmes across the states. At a meeting with 21 Chief Executives Officers of agencies in the Federal Ministry of Education, Minister of State for Education, Prof. Anthony Anwukah, who expressed great concern over the deplorable conditions under which some Nigerian children attend classes under the trees for lack of classrooms, urged states to fast track the process of accessing the funds for judicious use. According to Anwukah, the need for state governments to access the over N41billion made available to them by the federal government through the UBEC to improve on education infrastructure at that level remains critical given the imperative of basic education to the nation. The minister said: “The refusal, and or inability of states to access their share of the UBEC fund is strangulating the development of basic education nationwide. “The absolute necessity for states to access this fund cannot be over emphasised, maintaining that doing otherwise is not only depriving the country’s children, the conducive learning environment they desire, but is also depriving Nigerians of thousands of employment opportunities that could be generated if N41 billion is injected into the economy through such productive activities.” Anwukah noted: “It is economically wasteful to allow

such quantum of money to lay dormant, especially at a time the country is in dire need of improving its gross domestic product (GDP) and strengthening its currency. He held that only Borno State was up to date in accessing its share of UBEC funds-out of the 36 states of the federation, revealing that Abia State is leading the pack of defaulting states with its share lying dormant for the past four years. Some of the reasons given by the minister for the current rate of default by states are; “the inability of beneficiary states to account for previous allocations, inability to pay 50 per cent of their counterpart funding and in some cases, outright lack of commitment to the course of basic education.” Anwukah ruled out the possibility of altering the ratio of contribution between the federal and state governments (50:50), adding that the federal government “will continue to exert the necessary pressure on states to access their fund as and when due in the interest of the Nigerian child.” The minister noted that some of the primary schools where some children attend classes under tree shelter are sometimes used as voting centres where politicians garner their votes, only to turn their backs on these children, forgetting that the same children will make up tomorrow’s voters. He acknowledged the current economic realities in the country, adding that accessing UBEC funds by states is a matter of political will. The minister further called on state governors to make Universal Basic Education (UBE) a matter of top priority.

CELEBRATING SAFETY

L-R: HSE Manager of Midwestern Oil and Gas, Mr. Anthony Okoye; External Affairs Officer, Love Uchegbu; Executive Director, Technical, Victor Okolo; Company Secretary, Feyi Obayemi; and Head of Operations, Adeche Omotosho, after briefing the media in celebration of 10-million man safety hours of the company in Lagos... recently

Ogun Workers Call off Strike, Sign MoU with State Govt Sheriff Balogun in Abeokuta Workers in Ogun State who have been on strike in the last two weeks over deductions in their salaries by the state government, finally called off their industrial action off last night. To that effect, the state government and leaders of organised labour signed a Memorandum of Understanding (MoU) to find a lasting solution to the industrial dispute. The over eight hours meeting was brokered by the national leadership of labour comprising of Nigeria Labour Congress (NLC) and Trade Union Congress (TUC). Shortly after the meeting, National President of NLC, Ayuba Wabba and his TUC counterpart, Boboi Kaigama, told journalists that the meeting was all inclusive. Ayuba therefore disclosed that a tripartite agreement was signed and commitment was given with a view to finally settling the dispute. Reading the eight-point MoU jointly signed by the Head of Service, Sola Adeyemi, the Permanent Secretary, Bureau of Establishment and Training, Mrs.

T.O Dosunmu, labour leaders in the state and observed by Waba, Kaigama, Kiri Mohammed, Khaleel Ibrahim and Adeniji Abdul-Rafiu of the NLC, TUC, Joint National Public Service Negotiating Council (JNPSNC), Nigeria Union of Local Government Employees (NULGE) and NANNM, respectively, the state chairman of Joint Negotiating Council, Abiodun Olakanmi, remarked that the understanding would further foster cordial working relationship between labour and the state government. Meanwhile, the state governor expressed his disappointment with what he called “political dimension” to the strike, promising to honour the agreement the state reached with the labour leaders. The governor, however, failed to make a categorical statement when asked about possible reinstatement of the sacked 16 labour leaders saying “ the strike and the other issue are two different things. That is why I am infuriated and still do, but we will see what we can do.” The state labour leaders later converged on Labour House where the NLC national president called off the strike.

Ondo PDP Crisis: Fayose Speaks after Taking Ogogoro, Says Ibrahim Martins Ifijeh In response to a statement credited to the Ekiti State Governor, Ayodele Fayose that the Peoples Democratic Party (PDP) factional governorship candidate in Ondo State, Mr. Jimoh Ibrahim can never be governor of the state, Ibrahim has described Fayose as a governor who speaks after taking a strange coffee or illcit gin popularly called ogogoro. He said Fayose made same statements during the presidential election where he predicted that President Muhammadu Buhari would never be president, yet Buhari was already in his second year as president of the country. “Since Fayose has predicted that I will not be governor as he did to President Buhari, it simply means he will be invited to attend my inauguration,” he said. According to Ibrahim, the crisis in the Ondo State PDP has not degenerated to a situation where a judge was

beaten up in court during proceedings as it was in Ekiti State during Fayose’s bid to become governor, adding that there was no need for the governor to panic at this time as it was too early to do so. “Fayose is advised to wait till November 27 after the election in Ondo State, as we shall move to Ekiti in full force to enforce Justice Abang’s judgment, which also cover the executive of PDP in Ekiti State. Our movement to Ekiti State will be in daytime so it is better for Fayose to prepare and learn from experience of Governor Mimiko who was performing in Ondo State until he was distracted by Fayose. “Let me remind Fayose that I am not Kayode Fayemi and it is now a payback time to treat Fayose exactly the way he treated Fayemi using the framework of how the clustering disaster we resolved in Ekiti State led to Fayose’s victory,” Ibrahim said.

TUESDAY OCTOMBER 4, 2016 • T H I S D AY

NEWSEXTRA

Bill Seeking LG Financial Autonomy Passes Second Reading C’ttee queries police over missing rifles, cash exhibits Damilola Oyedele in Abuja A bill seeking to ensure financial autonomy for local government councils by altering Section 162 of the 1999 Constitution yesterday passed second reading in the House of Representatives. The bill sponsored by Hon. Nkeiruka Onyejeocha (Abia PDP) is titled: ‘A bill for an act to alter Section 162 of the Constitution of the Federal Republic of Nigeria, 1999, to among others, ensure the financial autonomy of local government areas, and for other related matters.” The alteration seeks to delete sub-sections 5 and 6 and insert new sub-section therein, she said. “The current sub-section 5 provides that the amount standing to the credit of local government councils in the federation account shall also be allocated to states for the benefit of their local government

councils on such terms and in such manner as may be prescribed by the National Assembly, “ she said. It seeks to alter sub-section 7 to clarify that the allocation to be granted the local governments by the state governments shall be from the Internally Generated Revenue (IGR) and to replace the House of Assembly with the National Assembly for the purpose of prescribing the manner of the sharing between the states and local government councils. The bill seeks to provide for the funding of the local governments to be from the federation account pursuant to an Act of the National Assembly. Onyejeocha argued that financial autonomy for local governments would accelerate social and infrastructure development at the grassroots, and would release local governments from the grip of state governors.

“The whole aim is to detach local government system from the apron string of state governments and make them truly independent as envisaged by section 7 (1) of the Constitution,” she said. The bill was passed by the seventh assembly but was not assented to by former President Goodluck Jonathan, before the expiration of his tenure. Meanwhile, the committee also queried the Nigerian Police over four missing rifles and cash exhibits totalling N1.9million, as observed in the Auditor General’s

report of 2010-2013. The report raised 55 queries against the Nigerian Police in the audited period, and also discovered that four pistols were missing during the audit examination of arms and ammunition in 2012. The report also said cash exhibits of N928,000 was missing in 2011, N100,000 in 2012, another N720,000 was well as a Dell laptop worth N250,000 in 2013. The Inspector General of Police, Mr. Ibrahim Idris, represented by the Assistant Inspector General (AIG) (Budget), Mr. Abdulsalami

Iyaji said in 2009, an officer was attacked and killed by armed robbers who made away with his pistol in Lagos state. Idris had made a brief appearance at the session, and sought the permission of the committee to allow the Assiatnt Inspector General of Police (AIG) to represent him. Iyaji explained that the second pistol was issued to a sergeant, who had declared it missing, while the third pistol was lost by an officer to an attack by armed robbers. The fourth pistol was taken from an

inspector who was attacked in his hotel room in Lagos, Iyaji said, adding that the inspector was sanctioned. The AIG further explained that the officer in charge of the N928,000 exhibit was arraigned in court as he could not account for the money, while the N100,000 was returned to the owner. The N720,000, he added was in error as the actual amount which is still in police custody is N250,000, while the police has no record of a Dell laptop. The hearing was adjourned as some documents were not available.

Ugwuanyi: Why States Should Be Involved in Granting Mining Lease Governor Ifeanyi Ugwuanyi of Enugu State has advised the federal government to intervene and compel companies with licences or leases to mining fields in the state to commence operations or have such rights revoked. He also noted that the practice of holding on to mining leases without utilising them could be eliminated if governors are involved in the review process preceding the issuance of mining licences. The governor made this point when members of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) paid him a courtesy visit at the Government House, Enugu. Commending the federal government for its commitment to diversify the country’s economy and reduce its dependence on oil, Ugwuanyi stated that the measure would improve its revenue and bolster economic activities across the country. “We have to say that this initiative is even more important for Enugu State, a state that is richly endowed with solid mineral resources but which, paradoxically, has gained so little from their existence especially after the collapse and eventual winding up of the Nigerian Coal Corporation due to nonchalant and uncooperative attitude of owners of mining leases and licenses in the state,” he said. Frowning at the excessive amount of revenue lost by all tiers of government through non-payment of royalties, Value Added Tax (VAT), tenement rates, land use charges and income tax by these companies,

he urged the National Assembly to consider amending the nation’s constitution towards transferring the prospecting and exploitation of minerals from the exclusive legislative list to the concurrent list, as this would grant states requisite legal basis to participate fully. The acting Chairman of the commission, Mr. Shettima Abba Gana, said the visit was part of their nationwide tour to monitor the revenue accruable from solid minerals as well as to audit the activities of miners and major operators in the mining sector. He commended the governor for his governance strides evident in the sustained infrastructural development across the state, urging him to identify the abundant mineral deposits in Enugu given that states could apply for mining licences. The RMAFC team had earlier held a one-day interactive session on mining sector at Nike Lake Resort Hotel, Enugu, where they enlightened participants on the potential in the mining sector. Speaking during the event, the state Commissioner for Environment and Mineral Resources, Dr. Fidel Ayogu, reiterated the state’s readiness to partner stakeholders in the exploration of its mineral resources. Ayogu explained that “Enugu State is endowed with more than 40 mineral resources including coal, zink, lead, iron and columbite,” adding that if harnessed they will enhance the state’s share of the federal allocation.

A’COURT PRESIDENT CONSTITUTES NEW PANEL TO HEAR CASE ON ONDO PDP CRISIS induced without evidence. “It is on record that two directors from the tribunal came to the EFCC office to bail the accused when the need arose. “Our position is that the statement was freely made, voluntarily made and it complied with the rules of the Evidence Act and we urge the court to admit it and reject the afterthought of the accused that the bribe money was paid to him to cater for his sick

father,” the counsel added. Responding, counsel to the defendant, Francis, who failed to prepare a written argument, adopted the testimony of the defendant as his argument and urged the court to hold that the statement was not freely made but done under duress and inducement. Trial judge, Justice Oji fixed February 13, 2017 for ruling on the admissibility of the disputed statement.

FIGHT CORRUPTION WITH DUE PROCESS

Members of Coalition of Civil Societies for Rule of Law during a peaceful protest against the recent clampdown on judges calling a war against corruption through due process in Ikeja, Lagos......yesterday Kola Olasupo

INCONCLUSIVE POLLS: SENATE THREATENS TO SHUT DOWN PLENARY AFTER DEC 10 December 10, failing which the Senate will suspend plenary.” Supporting the motion, Senate Leader, Ali Ndume, lamented that Rivers State had been denied involvement in various important decisions affecting them including the debate on Petroleum Industry Bill (PIB) which passed second reading yesterday. Ndume lamented that if INEC was grappling with inability to conduct election in only one state, it would be problematic to expect the same commission to conduct a successful election in 2019, observing that the elections conducted so far by the current leadership of INEC has either been inconclusive, suspended or characterised by confusion. He said: “We all know that it is not the content but the intent of this motion and the urgency in it. When we come here, we combine jobs with seriousness but we should know the difference between the jokes and whatever interpretation that we may give. “You can imagine that today, we are about to discuss PIB without any member from Rivers State. You can imagine, our colleagues that were seated with us here, an election was conducted, they believed they won. Somebody elsewhere said they didn’t win. But the truth of the matter is that anyone of us here could have been in that position. Let us remember this: whatever happens to you, you should think of another person. If it is our colleague from Rivers today, it could be you any day.

“You can imagine if for whatever reason, for example, myself who had been a victim and our people who have been victims of insurgency, if elections were not conducted, I will not be here, let alone being the Senate Leader. How would it be for my people who are ravaged by insurgency not to have somebody to tell you people or my colleagues what is actually on ground? Just imagine the motions we raised that led to the passage of the bill on the North-east Development Commission.” In his remark, Senate President Bukola Saraki, described the motion as important, pointing out that INEC must not fail to conduct the election on December 10 as it had failed previously. He said the Senate had the responsibility to ensure that INEC does not derail from its primary duty, insisting that this election must take place on December 10, “because it endangers all the things that we are doing here if a particular state is not well represented.” Also yesterday, the Senate’s move to amend the Electoral Act 2010 to provide for the substitution of a dead governorship or presidential candidate before the announcement of result with the first runner-up in the party primary. The amendment was meant to circumvent the repeat of the crisis which accompanied the death of the governorship candidate of the All Progressives Congress

(APC), Abubakar Audu, at the November 2015 gubernatorial election in Kogi State. The amendment which was among several amendments being carried out on the Electoral Act 2010 was meant to amend Section 36 of the Electoral Act “by inserting a new sub-section ‘3’ which provides for the substitution of a candidate of a political party who dies before the declaration of the result of an election with the first runner up in the party’s primaries (which was won by the deceased candidate.” However, the parliament was forced to suspend the amendment because it was not satisfied with the committee’s recommendation on the mode of substituting dead candidates as debate on the matter was contentious. Therefore, the senators resolved to send the bill back to the committee for further legislation and consultation that will lead to a more acceptable recommendation. However, INEC has insisted that it cannot go ahead with the conduct of the re-run senatorial elections without adequate security guarantees by the security agencies. The commission said it was ready for the conduct of the election any day but that the situation on ground does not permit a peaceful exercise. It blamed politicians and the two major political parties, Peoples Democratic Party (PDP) and the All Progressives Congress (APC) of refusing to commit themselves to a rancour-free election.

The Chief Press Secretary to the Chairman of INEC, Rotimi Oyekamni, who spoke with THISDAY yesterday on telephone, said the commission has done almost everything necessary to get the key actors see reason to allow the election to be conducted in a peaceful atmosphere but that they keep trading words and issuing threats against each other. According to him, the commission had held several peace meetings and conferences with a view to getting the parties and other stakeholders to give an undertaken to ensure that their members do not unleash violence during the poll but that not much was achieved. He gave an instance of one of such meetings held in Abuja where representatives the two parties, PDP and APC almost exchanged fisticuffs as they disagreed on how to go about the electoral contest. Oyekamni said what the commission was mostly concerned about is the safety of lives of the innocent voters, its officials and the ad hoc staff provided by the National Youth Service Corps (NYSC). “What we are saying is that in order for us to organise an election the atmosphere has to be very peaceful. The law empowers INEC to suspend any election if there is a threat of violence, not even the actual violence or occurrence of violence. What we are saying is that we cannot put our staff at risk when we are hearing of war songs from political parties.”

THURSDAY NOVEMBER 3, 2016 • T H I S D AY

NEWSEXTRA

Alleged Corruption: NGOs Ground Abuja, Protest to Court, NJC against Judges Lagos CSOs warn against descent into dictatorship Akinwale Akintunde Following the Department of State Security (DSS) sting operation in the judiciary, protesters yesterday stormed the Federal High Court insisting that the arrested judges must vacate their position. The protesters, under the umbrella body Forum of NonGovernmental Organisations in Nigeria (FONGON) said the indicted judges must step down to allow for proper and unhindered investigation into the allegations against them. The call is the second in the last one week. The group which took their campaign first to the Presidential Villa, before marching to the Federal High Court. At the Presidential Villa, the group was not allowed to proceed beyond the Three Arm Zone gate by a team of policemen led by Jubrin Sani, a Superintendent of Police. After a while, the protesters who were chanting that the judges must go, decided to take the protest to the Federal High Court, where they were shut out. The leader of the group, Wole Badmus who addressed the press advised the High Court judges to follow the footsteps of the two judges of the Supreme Court who have already vacated their seat.

Badmus said they are prepared to occupy the Federal High Court should the judges fail to vacate their positions. He said the protest was not against the judiciary but was necessary to ensure the system is purged of corrupt judges and justices. However, in Lagos, a coalition of over 10 civil society organisations (CSOs) staged a massive protest against the recent clampdown on judges by DSS. The CSOs, under the auspices of Coalition of Civil Societies for Rule of Law, called on well-meaning Nigerians to speak out against the gestapo tactics of the DSS in effecting the arrest of the judges, which it warned could lead to gradual descent into dictatorship. The coalition comprising Vote for Service Initiative, Activists for Good Governance, Women Progressive in Action, Human Rights Defenders Group, Concerned Forum among others, stated that it is fully in support of every effort by the government to tackle corruption, including the judiciary, but that it must be done with due process and under strict adherence to the rule of law. The DSS recently raided the houses of some senior judges in six states across the country.

The operation was ordered after months of investigation, during which the secret police established credibly that the affected judges were involved in questionable financial dealings. Of the 15 judges from the High, Appeal, and the Supreme Courts said to be under investigation, seven were arrested during a weekend raid. But they have since been granted bail on self-recognition. Speaking through the conveners, Mr. Adeola Samuel-Ilori and Declan Ihekaire, the protesters said the gestapo tactics of the DSS in effecting the arrest of the judges has the tendency of psychologically putting the judiciary under siege thereby forcing judges to do the bidding of the executive in order to escape being subjected to similar experience. “We have noted the recent clampdown on the judiciary by the agents of the DSS, culminating in the midnight forced entry into the homes of seven justices and arrested same on allegations of corruption. While we in this coalition of civil societies are fully in support of every effort by the government in tackling corruption, including the judiciary, we nonetheless firmly believe that this has to be carried out with due process and under strict adherence to the rule of law.”

T H I S D AY •THURSDAY NOVEMBER 3, 2016

THURSDAYSPORTS

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

WORLD CUP QUALIFIER

Akpeyi Replaces Injured Carl Ikeme Duro Ikhazuagbe Super Eagles’ Technical Adviser, Gernot Rohr, confirmed yesterday that injured Wolverhampton Wanderers goalkeeper, Carl Ikeme, will not be available for next weekend’s 2018 FIFA World Cup qualifying match against the Fennecs of Algeria in Uyo. The Franco-German coach has invited South Africabased goalkeeper, Daniel Akpeyi, as replacement for Ikeme who has been Eagles’ No.1 since last year September when Vincent Enyeama quit international football. Akpeyi, who stars for Chippa United, is generally believed to be the country’s most experienced goalkeeper after Enyeama left the national team but selectors of the men between the sticks have often relegated the Delta-born safe hands to the background. The most embarrassing for Akpeyi was being invited to the Under-23 Olympic team and made to warm the bench almost all through the tournament where the Dream Team VI won the country’s only bronze medal at Rio 2016 last August. He was in Samson Siasia’s squad that finished as

runners -up at the 2005 FIFA Under-20 World Cup in the Netherlands with the likes of John Mikel Obi and co. Ikeme was forced out of the game at Blackburn Rovers at the weekend due to a sore hip and has been ruled out of this weekend’s game against Derby County. “We’re going to try and reduce the inflammation. He’s touch and go and we’ll know more in a few days,” said Wolves’ interim manager, Rob Edwards, He was man of the match in a 2-1 win in Zambia last month after pulling off several game-defining saves. However, while Nigerian football officials are sad over the news of Ikeme’s injury, Algerian FA chiefs are equally running around for replacement for Bordeaux forward Adam Ounas who is also out of the clash with the Super Eagles. According to Algeria Football Federation (FAF), the left-sided winger was injured at the weekend in a French Ligue 1 game and team doctors have now chosen not to risk him for the trip to Nigeria. They have received his medical report from his club which suggested he will be out for a couple of weeks and as such there was no need to put his career on

ITF Selects Quadri, Marylove, Osewa for Junior Masters in Kenya Nigerian trio of Oyinlomo Quadri, Marylove Edward and Michael Osewa will slug it out with their counterparts from six other countries in the 2016 ITF/CAT 14 and Under African Junior Masters billed for 7th -14th November in Nairobi, Kenya. According to the ITF, the three Nigerians were selected for the championship, which will see the top players bagging grants to feature in international tournaments in 2017, due to their impressive performances in ITF/ CAT organised tournaments this year. South Africa, Tunisia, Egypt, Morocco, Seychelles and Kenya are the other countries that will be featuring in the championship which will has eight boys and

UEFA CHAMPIONS LEAGUE

RESULTS Legia 3-3 Madrid Juventus 1-1 Lyon Monaco 3-0 CSKA Porto 1-0 Brugge Sevilla 4-0 D’Zagreb Copenhagen 0-0 Leicester Tottenham 0-1 Leverkusen Dortmund 1-0 Sporting

eight girls jostling for honours. Of the three players, Quadri was the star performer for Nigeria winning the girls singles in the 14 and Under event of the West and Central Africa qualifiers for the African Junior Championship held January in Abuja before spicing it up with a historic triple title at the last ITF 18 and Under tournament in Benin and Togo in September - a feat that catapulted the 13-year-old to the top 500 in the world Junior rankings from her previous unranked status. Osewa, 14, had a memorable year by reaching the final of the AJC in Pretoria, South Africa which is Nigeria’s best outing at the tournament. On her part, 11-year-old Marylove, also made a lasting impression on ITF officials for her promising displays at the Junior Masters held in August in Morocco in addition to her eye-catching outings at the AJC events in Abuja and Pretoria. Osewa and Marylove will depart alongside Coach Mohammed Ubale on Monday while they will be joined on the same day by Quadri from her base in Morocco.

the line. The exciting 19-year-old star scored five goals in 23 appearances for Bordeaux last season and this term he

has made nine appearances in the league. Ounas was named among 18 foreign pros for the Match-day 2 clash of

the African race for the 2018 FIFA World Cup on November 12 in Uyo after he changed his international allegiance to Algeria. He

had played for France at the Under-20 age-grade level. FAF officials are yet to announce a replacement for the uncapped winger.

Daniel Akpeyi...picked as Ikeme’s replacement

Heritage Bank Tasks Students to Break Onyali’s 200m African Record The Chief Executive Officer/ Managing Director, Heritage Bank, Ifie Sekibo, has set aside a N10m trust fund for any athlete that can break the 200m African record set by ex-international, and Skoolimpics Ambassador, Mary Onyali-Omagbemi. The MD while declaring the pilot edition of the Heritage Bank- Lagos State Skoolimpics 2016 open said he would be setting aside the sum of N10m that would be yielding interests and would be handed over to any athlete discovered at the

competition who was able to break Onyali’s record. Onyali’s 200m record of 22.07secs was set 20 years ago at the IAAF Weltklasse Meet in Zurich, Switzerland and no athlete has been able to match it. Sekibo also applauded other sponsors and Lagos State government who had partnered with the bank in their quest to develop the youths. “Skoolimpics has come to stay and this is just the pilot

edition,” he said. “We have planned, meet people and today we all can see the results of the planning. I am happy that we have somebody as Onyali as an ambassador because she was discovered from school competition like this. “The target is to build future champions from amidst all these students and I am looking forward to see an athlete that will break our ambassador’s 200m record. “I am going to start an

endowment fund with N10m, for anyone that can break her record in the next 10 to 20 years, the money will be increasing and whosoever break that record will take the money, and with that I declare this year Skoolimpics open.” Five events will be competed for across two venues, Teslim Balogun Stadium, Surulere and Rowe Park, Yaba. The events are athletics, basketball, table tennis, swimming and handball.

Enugu, A‘Ibom Seal Tickets to Etisalat U-15 School Cup Finals New Layout Secondary School, Enugu and West Itam Secondary School, Akwa Ibom have qualified for the finals of the Etisalat U-15 School Cup finals which will hold in Lagos having emerged tops from the regional play-offs in Enugu state. The Enugu State-based school booked its place to the national playoffs with a victory over a hapless Holy Ghost Secondary School, Ebonyi last weekend at St Patrick’s College, Emene in Enugu State. The Enugu representatives who scored 17 goals in their last two matches were held

to a 1-1 draw by Imo’s Owerri City College in the opening game but went on to demolish St John’s Science and Technical College, Anambra 9-0 and white-washed Ebonyi State representatives 8-0. West Itam Secondary School, Akwa Ibom on the other hand topped Group A after winning two matches and draw one. They finished with seven points from three matches after leaving it late before sealing their qualification in Lagos. The Chief Coach of New Layout School Enugu, Uche Lofty, expressed happiness

for being able to guide his wards out their group, noting that he was very pleased with their performance. He disclosed that they will take key learning from the play-offs in preparation for the finals in Lagos. “We will go back and intensify our preparation by concentrating on tactics and pace. We are going to put the team through the principle of football ethics, tactical discipline, team spirit and responsibility”, he said. On the other hand, the coach of the Akwa Ibom representatives, Coach Emmanuel Ebong described

the tournament as a very good platform for discovering and developing new talents. He said that team work and determination came through on the field of play for his boys. “My boys put up a good show and played as a team, they connected seamlessly on the pitch of play, dominating the game with good ball possessions all through the game, so we are happy that we top our group and are delighted to be going to Lagos for the finals” he quipped. Both coaches lauded the telecommunication giant for the football initiative.

Thursday, November 3, 2016

UT H

& RE A S O

Price: N250

MISSILE Soyinka to American Students

“If, in the unlikely event he (Donald Trump) does win, the first thing he’ll do is to say that all green-card holders must reapply to come back into the US. Well, I’m not waiting for that. The moment they announce his victory, I will cut my green card myself and start packing up” – Nobel literature laureate, Professor Wole Soyinka, to students at New York University’s Institute of African American Affairs where he is currently a scholar-in-residence.

OLUSEGUNADENIYI The $30 Billion Borrowing Gamble THE VERDICT

olusegun.adeniyi@thisdaylive.com

n a cynical, almost contemptuous manner, the Senate on Tuesday threw out President Muhammadu Buhari’s letter seeking approval for an external borrowing plan of $29.96 billion to execute key infrastructural projects within the next two years. But it was done only on technical grounds. And to the extent that this is just the end of the introductory chapter rather than the close of the book, I will admonish the National Assembly members to be circumspect in critically examining this particular request that could, in the long run, put the nation in another bind. In 2005, Nigeria successfully negotiated a complicated debt write-off deal of about $18 billion after a cash payment of approximately $12 billion to free the nation from the Paris Club debts of over $30 billion, most of which were accumulated interests and charges. A huge chunk of the loans was secured in the 1980s to fund what turned out to be white elephant projects. And with about $3 billion dollars spent annually just on debt servicing as at the time the write-off was concluded, the argument to exit the Paris Club by the Olusegun Obasanjo presidency was indeed very sound. As one of the people who supported the debt write-off deal just 11 years ago, that we are engrossed in another national debate on the appropriateness of treading the same path raises serious questions about whether we ever learn any lessons from our national experience. It is even more worrying that this idea to borrow is coming at a period our capacity to meet repayment obligations is dwindling, given the crisis in the Niger Delta. Before going further, it is important to underscore the fact that in an economy in recession, there is need for some fiscal package to help stimulate consumption and production, create jobs and generally engender economic growth. But two critical questions beg for answers. One, assuming, without conceding, that there are compelling needs for some external borrowing, is it not important to first close all loopholes and drainpipes in the system; drastically restructure and rationalise government agencies and reduce the huge overhead cost that consumes a large chunk of annual budgets at all levels? Two, does the Buhari administration have on its side skilled officials who can negotiate the fine lines of the ‘conditionalities’ for the borrowing plan, as being proposed? If we ignore all these and borrow, such funds may never be channeled into those projects highlighted by the administration and the nation would be left with nothing but huge debts to service, at very high costs. Yes, we have been told by IMF that it is possible to get interest free loans from the international debt market but we all know that there is no free lunch anywhere, not even in Freetown. So, it makes more sense to see the fine prints of these deals before our nation is committed, especially now that some of our lawmakers would also want a piece of the action

Senate President, Bukola Saraki for their “constituency projects”---another euphemism for sharing public money. meeting with the leadership of the senate who visited her office last week, Finance Minister, Mrs Kemi Adeosun painted a pathetic picture of our national economy. “By the time we pay salaries, pay debt, nothing is left. So, for these next few years, I think we have to take a gamble as a nation. We must take a gamble that ‘look, if we fix our roads, fix our power, can we generate more than that additional cost?’ I think we can, from what I see of a country, I think we can”, she said. However, while I have no problem with such ‘gambling’ in national economic management, I still believe the administration is not without options. For instance, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu also said recently that the federal government was set to sign a cash-raising oil deal with India for $15 billion. “Nigeria has a bit of a cash flow problem right now. Our reserves are not as strong as we want them” said Kachikwu who argued that because the value of the national currency is on a freefall, “what we are trying to do is to leverage on the assets we have to receive immediate cash.” This option is particularly plausible because, even if we borrow, our only way of paying back is with our oil assets. President Buhari himself admitted as much last week. “The petroleum industry remains critical to the Nigerian economy of today and the future, despite our current challenges. The golden era of high oil prices may not be here now, but oil and gas resources still remain the most immediate and practical keys out of our present economic crisis”, said the president at the public presentation of a roadmap on short and medium term priorities to grow Nigeria’s oil and gas industry from 2015 to 2019. Unfortunately, the United States Energy Information Administration, (EIA) recently projected a negative downturn for the country’s crude oil production because

of the militancy in the Niger Delta. In confirming the prediction, Kachikwu noted that between January and June 2016, over 1,600 incidents of vandalism were recorded. He explained that compared to the 2.2mbpd targeted in the 2016 budget, the country currently produces 1.56mbpd showing a shortfall of about 640,000 bpd, which translates to 29.1 per cent loss. To underscore the gravity of the situation, the NNPC Group Managing Director, Dr Maikanti Baru, also said last Friday: “Over 7000kpd of crude oil has been lost due to vandalism this year. A bulk of the loss is from JV assets. This implies that 60 per cent of oil production lost is NNPC-FGN equity. At an estimated price of 45 dollars per barrel, the total 2016 revenue loss to the Federation Account translates to about 7 billion dollars. This loss is equivalent to a new 7,000mw power plant; new 350kpd refinery; over 30 per cent of National budget; and a new 1,700 kilometre pipeline.” Therefore, it is difficult to fault the president that the only way forward is to grow the oil economy. But for that to happen, he has to resolve the Niger Delta problem which remains a low-hanging fruit his administration has been unwilling, until now, to pluck. Yet, as it has become very evident, force cannot resolve the issue. It would take deft political management, as was demonstrated by the late President Umaru Musa Yar’Adua. It may be coming late in the day but it is good that the president has finally realised that constructive engagement still remains the most practical and cost-effective method of dealing with the Niger Delta problem. But then there are immediate challenges and that brings us back to the issue of the proposed loans. I have been told by those who should know that embedded in the N6.08 trillion 2016 budget is a deficit financing of N2.2trillion out of which N900billion was to come from the international debt market while N984billion would be raised from the domestic market, totaling N1.84trillion. Strictly speaking, therefore, the approval the President is seeking for about $30billion may actually be academic, though transparency requires that the terms of the borrowing be spelt out so that Nigerians can understand the full implications of what the administration is doing. That is where the problem begins. It beggars belief that an administration that plans to borrow and spend $30 billion within a period of two years is now just going to put some documents together. “One of the technical things missing is that, the letter (from President Buhari) says. ‘attached is a draft’ but there was no attachment…there was no detail of the borrowing plan,” said Senate Leader, Ali Ndume. Yet, if there was any notion that the lack of attaching the draft could be an oversight, it was immediately dispelled by the Presidential Liaison Officer to the National Assembly, Senator Ita Enang.

“There are certain information and details which will enable them to consider in detail, and appropriately the request of Mr. President. So we are collating that information. The Budget Office of the Federation, the Debt Management Office, the Minister of Budget and National Planning, Minister of Finance and the economic team are collating the information so that it can be submitted to the Senate to enable them take the appropriate decision.” The implication of that statement is that it is just now that the information on loans deals worth a whopping $29.96 billion expected to be spent within the next two years would be collated! Yet, the Debt Management Office (DMO) Director General, Dr. Abraham Nwankwo is all over the place, defending what he probably has little or no idea about. Besides, how can the DMO approbate and reprobate at the same time? According to the 2016 Report of the annual Debt Sustainability Analysis (DSA) of the same DMO published last week on its website, “the debt portfolio (of Nigeria) still remains highly vulnerable to persistent shocks in revenue, indicating a potential challenge in maintaining debt sustainability”. The report puts Nigeria’s outstanding debt portfolio as at December, 2015 at about US$65.43 billion compared to US$67.73 in 2014, thus representing an increase of 12 percent. And these did not include the figures for the 36 states that were not ready as at the time of compiling the report. From my reading of the situation, this money, if secured, may buy the nation two to three years of some feel-good situation but then, what follows will be the problem of how to pay back. This becomes even more challenging against the background that most of the projects listed for funding under the proposal are neither regenerative nor capable of bringing enough returns on the investments. Indeed, to the extent that the entire loan package is more than the total external reserve of Nigeria, it looks as if the federal government is just desperate to buy itself some reprieve from an increasingly hungry (and angry) populace. Yet, the reality remains that a government that will enter a lame duck stage in another year or so has no business contracting a debt of such magnitude. But then, as one respected banker is wont to surmise on such perplexing issues, what do I know?

The Trump Card Six days to the presidential election, I am currently in the United States where I am monitoring the dizzying political events. Interested readers will find my perspective on what the controversial Republican contender, Mr. Donald Trump, means to America and the world in the online edition on www.thisdaylive.com.

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