Thursday 22nd December 2016

S&P: Nigeria Faces Uphill Task Attracting AMCON 2 Investment Obinna Chima with agency report With non-performing loans (NPLs) stacking up at Nigerian commercial banks, the country is looking to create a second bad loan vehicle, better

known as AMCON 2, but the country faces a tough battle to convince private investors to fund it, S&P Global Market Intelligence has reported.

Weak oil prices and exchange rate pressures have restricted borrowers’ ability

to service loans, leading to a doubling of the aggregate bank NPL ratio between December 2015 and June 2016, to 11.7% from 5.3%, according to a Dec 13 Fitch Ratings report.

In response, the Central

Bank of Nigeria (CBN) and Nigeria Deposit Insurance Corporation (NDCIC) are eyeing a new “bad bank” to take the NPLs off banks’ books and allow them to lend more to the real economy.

An initial such entity, Asset

Management Corporation of Nigeria, or AMCON, was established in 2010 and funded by federal government zero-coupon bonds and the central bank.

AMCON benefits from a full state guarantee of its

liabilities.

It played an important role in bringing down thenelevated NPLs, buying 90 per cent of the banking sector’s bad loans by December 2012.

Continued on page 8

NEITI: Federation Earned $61.2bn from 1.28bn Barrels of Oil in 21 Months… Page 10 Thursday 22 December, 2016 Vol 21. No 7917. Price: N250

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Jubilation in Delta State as Ibori Regains Freedom Ex-governor unlikely to return home till next year Agha Ibiam in London, Sylvester Idowu in Warri and Omon-Julius Onabu in Asaba with agency report There was wild jubilation in Delta State and especially in Oghara, the hometown of a former governor of the Delta State, Chief James Onanefe Ibori, who regained his freedom yesterday after a British court ordered his immediate release, having

served five and a half years of his 13-year prison sentence.

On getting news of his release, hundreds of indigenes of Oghara trooped out en mass singing solidarity songs and marching along the major streets of the otherwise sleepy town since his departure.

Indeed, Oghara, the administrative headquarters of Ethiope West Local Continued on page 6

FG to Reward Whistleblowers with 5% of Recovered Loot Approves commencement of work, business case for concession on Second Niger bridge Tobi Soniyi in Abuja The Federal Executive Council (FEC) yesterday approved a whistleblowing policy to expose fraud and other related crimes in both the public and the private sectors.

Also yesterday, FEC approved the outline business case for discussions on the concession agreement that will facilitate private capital for the conclusion of work on the Second Niger bridge.

Continued on page 6

Former Delta State Governor, Chief James Onanefe Ibori, relaxing with family and friends in London after his release from a British prison… yesterday

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Kogi, Edo to BeneďŹ t as FG Approves 13% Derivation for Non-oil Mineral Producing States The federal government has given approval for the implementation of the constitutionally guaranteed 13 per cent derivation from mineral revenues to deserving states.

This will lead to fresh revenues for Kogi and Edo States, which produce limestone in large quantities, and other Nigerian states producing non-oil minerals.

According to online news

medium, The Cable, the Minister of Mines and Steel Development, Dr. Kayode Fayemi, announced this Tuesday at a two-day workshop on special purpose vehicles (SPVs) in the development of the mining sector in Sokoto.

He said the workshop would encourage beneficial participation of state governments in natural resources governance.

“We have gotten approval for the implementation of the constitutionally guaranteed 13 per cent derivation for mineral revenue to states,� Fayemi said. “This is similar to the derivation that oil-producing states are currently enjoying from the Federation Account.�

Fayemi said that the federal government was working closely to build the capacity of state governments in the structuring

of the vehicles to participate in mining in their jurisdictions.

He added that this was without undermining private sector players, nor discouraging mining enterprise within their states.

Aminu Tambuwal, governor of Sokoto State, said that the state would work with the federal government to formalise and manage the artisanal miners.

Tambuwal assured his guest

that his government would also work with defence and security agencies to curb illegal mining in the state.

Bello Goronyo, the state Commissioner for Solid Minerals and Natural Resources Development, said the programme was part of efforts by the federal and state governments to diversify their economies through effective use of the solid mineral resources.

Goronyo said that the state government had taken a giant stride in the drive to diversify the state’s economy through exploration, mapping and identification of the locations of the minerals in the state.

He explained that the state government had given the ministry all the necessary support and cooperation to enable it to discharge its duties without hitches.

Adeosun, however, said the shortfall was included in the virement recently approved by the National Assembly.

She said her ministry “only received the advice on the virement on Monday� and that it was being loaded to the system after which the agencies will get back online on the payment portal.

Also speaking, the Minister of Power, Works and Housing, Mr. Babatunde Fashola (SAN), said that FEC gave approval for emergency repair works on the Tambuwawa bridge in Kano and commencement of work on the Second Niger bridge.

He said: “We presented from the Ministry of Power, Works and Housing two memoranda, one was first for emergency repair works on the Tambuwawa bridge between Kaduna and Kano situated largely in Kano. “Council considered and approved the emergency procurement for the bridge, as it is suffering from scrap and erosion. The parts were exposed as a result of some mining activities there. We got approval for that from council. “The second memo related to the continuation of work on the Second Niger bridge which is the bridge that is meant to give relief to the existing River Niger bridge and improve connectivity between the west and the east. “The project was conceived first as a public, private partnership (PPP) with government financing but the investors had not been

forthcoming. “Negotiations have not been concluded and it is important to continue to work there, as work had been executed there. “It is important to continue there and essentially it is preparatory and tiling work but can only be done during the low tide, especially at this time of the year before the water

levels rise. So, council approved that as well as early works. “It also approved the outline business case for us to continue discussions to see whether we can successfully conclude a full business case and possibly a concession agreement that would attract private capital to come in to concluding the remaining works.�

FG TO REWARD WHISTLEBLOWERS WITH 5% OF RECOVERED LOOT Finance Minister Kemi Adeosun disclosed this to State House reporters after the FEC meeting chaired by President Muhammadu Buhari.

In order to encourage Nigerians to key into the whistleblowers’ scheme, Adeosun said: “If there is a voluntary return of stolen or concealed public funds or assets on the account of the information provided, the whistleblower may be entitled to anywhere between 2.5 per cent (minimum) and 5.0 per cent (maximum) of the total amount recovered.�

She said the policy devised by her ministry was aimed at encouraging anyone with information about a violation, misconduct or improper activity that impacts negatively on Nigerians and government to report it.

According to her, the policy’s objective is to increase exposure of financial or financial related crimes; support the fight against financial crimes and corruption; improve the level of public confidence in public entities; enhance transparency and accountability in the management of public funds; improve Nigeria’s Open Government Ranking and Ease of Doing Business Indicators; and recover public funds that can be deployed to finance Nigeria’s infrastructure deficit.

She listed information that could be submitted to include: mismanagement or misappropriation of public funds and assets (e.g.

properties and vehicles); financial malpractice or fraud; collecting/ soliciting bribes; corruption; diversion of revenue; fraudulent and unapproved payments; splitting of contracts; procurement fraud (kickbacks and over-invoicing etc.).

The ministry defines a whistleblower as any person who voluntarily discloses information in good faith about a possible misconduct or violation that has occurred, is ongoing, or is about to occur.

The minister, who noted that there was a secure online portal where information could be submitted, said: “If you have already submitted your information, you can also check the status of your report on the portal.�

She however said that the policy would not apply to personal matters concerning private contracts or agreements.

She said whistleblowers could submit their information through the online portal by e-mail or by phone.

On whether a whistleblower is entitled to a financial reward, she responded: “It depends, if there is a voluntary return of stolen or concealed public funds or assets on the account of the information provided, the whistleblower may be entitled to anywhere between 2.5 per cent (minimum) and 5.0 per cent (maximum) of the total amount recovered. “You must have provided the government with information it does not already have and could not otherwise obtain from any

other publicly available source to the government.�

She also said there was protection from false or malicious claims.

She said: “A first level review will always be carried out to determine credibility and sufficiency of information received. If you report false or misleading information, it will be referred to the enforcement agents for investigation and possible prosecution.�

Adeosun said whistleblowing in the public spirit and in good faith, would attract protection.

She said: “If you feel that you have been treated badly because of your report, you can file a formal complaint. If you have suffered harassment, intimidation or victimisation for sharing your concerns, restitution will be made for any loss suffered.�

Also yesterday, the minister explained that federal agencies that were unable to pay their workers’ salaries for November had exhausted their budgetary allocations.

She said: “All the agencies affected have exhausted their budgetary allocations and the system has shut them down.�

She also said some of the agencies employed additional staff but did not inform the finance ministry on time. “Agencies should tell us on time so that the necessary measures will be taken,� she said.

Agencies such as the Federal Road Safety Commission (FRSC) have not paid their November salaries.

S&P: NIGERIA FACES UPHILL TASK ATTRACTING AMCON 2 INVESTMENT It recovered 56 per cent of the value of all loans acquired from the banks, Fitch said, as well as taking stakes in failed lenders. But it also weighed heavily on Nigeria’s already stretched public finances. “The existing AMCON financing structure is not sustainable because the bad bank solution has been at a considerable cost to the Nigerian taxpayers,� Oluseyi Ajewole, a financial analyst at Toronto-based logistics firm Damco, said in an interview. “AMCON has been running at a huge loss.�

Now there is increased pressure to take further action on bad loans, which have again reached worryingly high levels.

The fall in oil prices over the last two years, together with militants' attacks on oil pipelines in the Niger delta, have dented the economy, as has a prolonged dollar liquidity shortage as international investors shy away from lending to local banks.

In September, S&P downgraded Nigeria’s sovereign credit ratings, citing contraction in both the oil and non-oil sectors

of the economy.

The CBN and NDIC have now responded by establishing a joint committee to look into setting up a successor bad bank, AMCON 2.

This time, though, the NDIC hopes the entity will be funded and driven by the private sector. “Known names in the distressed-debt business that may be targeted are Deutsche Bank AG, Morgan Stanley, Goldman Sachs Group Inc. (and) GE Capital,� said Ajewole.

Thereafter, local investors would be sought.

These efforts will, if successful, ease the mounting asset-quality problems, Fitch said.

AMCON 2 would likely be a more significant and creditpositive measure than moves

by Nigerian authorities to allow banks to accelerate the writing-off of fully reserved NPLs, which came into effect in July.

But locating willing private investors may not be easy at this point. In the current economic environment, growth opportunities for banks are

limited, Ajewole said.

Potential investors will need clarity on how likely it is that AMCON 2 will meet their interest payments, how sustainable the entity’s cash flow will be and how quickly it will be able to dispose of the bad loans.

A legal framework strengthening creditor rights would help encourage investors, the analyst said, as would using asset-based securities to offer debt to investors in joint venture partnerships or pooled sales.

The legal framework for corporate restructuring needs to be reinforced, he said.

But the relatively high yields for less risky government debt might be more attractive for investors than the bad bank project, according to Rachel Ziemba, managing director for emerging markets research at financial research firm 4CastRGE. “I think it might be challenging,� she said. “Investors have choices of Nigerian assets.�

There are also critics who argue the bad banks create

a moral hazard problem for Nigerian banks, encouraging them to engage in risky or dubious lending that is then simply passed on to AMCON or AMCON 2. “The balance of (AMCON) was about N5 trillion or more, and the government budget for this year is about N6 trillion,� Feyi Fawehinmi, a U.K.-based Nigerian finance commentator, told S&P Global Market Intelligence.

Meanwhile, the bad loans continue to stack up. Rating agency Moody’s, in a December 14 report, predicted that the Nigerian banking system’s NPL ratio would reach between 12 per cent and 14 per cent over the next 12 months.

It noted, however, that the banks’ deposit funding bases are stable and have strong capital buffers.

The operating environment is likely to stabilise, Moody’s said, with Nigeria’s real GDP growth set to increase to 2.5 per cent in 2017 and 4 per cent in 2018, after a 1.5 per cent contraction in 2016.

JUBILATION IN DELTA STATE AS IBORI REGAINS FREEDOM Government Area in Delta State erupted into ecstatic celebrations with acrobatic displays by youths, women and motorcyclists, creating a carnival-like atmosphere.

The order for Ibori’s release came despite attempts by the British Home Secretary to detain him in prison, pending the ruling on a prolonged asset forfeiture case brought against him by the British government.

He was due for release on Tuesday, having agreed to be deported after serving less than half of his 13-year sentence.

When THISDAY spoke to Ibori’s representative yesterday, it was gathered that the former governor would be released to his home in London, but was unlikely to return to Nigeria soon.

THISDAY learnt that he was mandated to report to the London police periodically for the time being.

However, it emerged that the Home Secretary, Amber Rudd, did not intend to deport Ibori to Nigeria until he handed over ÂŁ18 million of “proceeds of crimeâ€?, reported the BBC. But ruling against the Home Office, a High Court judge said yesterday that attempts to detain him were “quite extraordinaryâ€?.

Ordering Ibori to be immediately freed from prison, Mrs. Justice Juliet May said: “You don’t hold someone just because it is convenient to do so and without plans to deport them.�

A Home Office application that Ibori be electronically tagged and subject to strict curfew conditions was also rejected after the judge accepted arguments that the Home Secretary was attempting to misuse her immigration and deportation powers.

The Home Office’s barrister said the government was concerned that Ibori might “frustrate confiscation proceedings� and wanted him kept in jail or subjected to strict controls on his movement.

Ibori was jailed for fraud totalling nearly ÂŁ50 million in April 2012.

Confirming the order for his release from prison yesterday, a statement by Ibori’s media aide Mr. Tony Eluemunor, said:

“At 12.20 p.m. on Wednesday, December 21, 2016, Her Honour, Mrs. Justice Juliet May, Queen’s Counsel, dropped her verdict: She ordered the immediate release of Chief James Onanefe Ibori. “With that, Ibori’s lawyers won a major victory against the British Home Office at the Royal Court of Justice, Queens Court 1, London, by successfully challenging the decision not to release Ibori who was due for freedom on Tuesday, December 20, after serving his sentence. “In a curious move, the British Home Office, instead of releasing Ibori on December 20, informed him that he would be detained on the grounds that his confiscation hearing had not been concluded. “So, in court, Ibori’s lawyers exposed the injustice in the indefinite detention the Home Office had planned for Ibori.

They told the judge that there were no grounds in law under which Ibori could be detained and that his detention for one extra day by the Home Office was unlawful.�

Eluemunor stated that there was high drama in the British High Court, as senior lawyers for the UK’s Home Office failed in their last minute bid to prevent Ibori’s release. “The apparent decision to block Ibori’s release and detain Continued on page 9

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˾ THURSDAY, DECEMBER 22, 2016

STARTERS

11 Children Killed in Gombe as Bus Runs into Muslim Procession Eleven children were killed when a

bus driver lost control of his vehicle and ploughed into a Muslim procession marking the birthday of Prophet Mohammed in Gombe State, the police said yesterday.

The accident which occured on Tuesday in Malam Sidi village in Gombe State was due to a brake failure, said police spokesman Ahmed Usman.

“A total of 11 children died in the incident while 17 others were seriously injured,” Usman told AFP.

He said the victims were aged between 11 and 15, prompting an angry mob to descend on the bus driver and beat him to death.

The police have launched an investigation into the accident, he added.

Muslims in northern Nigeria celebrate the birthday of Prophet Mohammed with month-long religious gatherings and street processions.

Nigeria is almost evenly divided between a mainly-Muslim north and predominantly Christian south.

Urhoboland, Oghara Erupt On getting wind of the order for Ibori’s release, his kinsmen in Oghara thronged the major drinking bars in celebration of a man who had brought enormous development to the community as governor of Delta State.

The celebration was not limited to Oghara, as Urhoboland in Delta Central zone made up of eight local governments, and other parts of Delta State where his Urhobo kinsmen as well as political associates reside, also joined in the celebrations.

In Ughelli North and South Local Government Areas as well as Udu, Uvwie and Warri Local Government Areas of the state, the release of Ibori

dominated discussions over bottles of drinks.

THISDAY learnt that most of the people were celebrating based on the rumoured homecoming of the erstwhile governor before Christmas Day on Sunday or before the New Year since the town had been spruced up and houses and streets were readied for Ibori’s anticipated return before the end of the year.

Practically all of Ibori’s associates were of the view that the former governor was a victim of political persecution rather than for corruption or money laundering for which he was jailed in the United Kingdom.

Some of them believed that Ibori’s return to the country would stir up the political atmosphere not only in Delta State but the Niger Delta region and Nigeria as a whole.

A prominent indigene of Oghara and former commissioner under ex-Governor Emmanuel Uduaghan’s administration, Chief Ben Igbakpa described the court order as a welcome development not only for the people of Oghara but Delta State as a whole.

“No matter the circumstances, every journey, every venture, every persecution, every cry, and even our lives have a beginning and an end. To God alone be the Glory.

“In all our celebrations let’s sit and think about our individual culpability in what led to this punishment that a single man had to carry the cross of a generation.

“We can’t move forward effectively without a robust understanding of yesterday and the need to be counted as tested and trusted. This gives us food for thought as we kick off the celebrations on this historic day.

“Conscience is an open wound that can only be healed by truth alone. God bless Delta State,” he said.

For Senator Igboyota Amori, a Peoples Democratic Party (PDP) chieftain in the state and confidant of Ibori, his release was a welcome development.

“On Ibori’s release today, it’s celebrations everywhere in Oghara, Mosogar, Jesse, the whole of Urhoboland, Delta State and Nigeria.

“Nigerians in the UK and all over the world are at this moment celebrating the hero of our time, the resource control guru, the liberator of the oppressed who paid the supreme price for the sake of his people.

“Our joy knows no bound as Deltans and Nigerians and in fact the entire Urhobo nation await his triumphant return to his fatherland.

“Like Mandela, Awolowo, Obasanjo and many others of his type, Ibori remains our hero,” he told THISDAY. Another chieftain of the PDP in the state and Urhobo leader, Chief Sunny Onuesoke, said this was the greatest thing that has happened to the state.

He declared: Chief Ibori’s release is the greatest thing that has ever happened within the political terrain of Delta State since the creation of the state.”

Senator James Manager, also a close ally of Ibori said: “Glory be to God,” in

NEWS NEITI: Federation Earned $61.2bn from 1.28bn Barrels of Oil in 21 Months NEITI has put Nigeria’s aggregate crude oil production and earnings within the last 21 months when the NNPC began to publish its monthly production…

Page 10

EDITORIAL Resolving The iPoB logjam Gombe State Governor, Ibrahim Dankwambo

JUBILATION IN DELTA STATE AS IBORI REGAINS FREEDOM him appeared to have come from the highest echelons of the UK Government – the Home Secretary – who was accused in today’s hearing of acting unlawfully and misusing her powers.

“Sian Davies, the Crown Prosecution lawyer did not object to Ibori’s release and return to Nigeria, yet at the last minute the Home Office stepped in. There is clear discord between the two arms of the British government,” he added.

Ibori’s team was led by Ian McDonald, QC, the leading QC on immigration.

Eluemunor said that the visibly irritated judge could not understand the Home Secretary’s position and at times was critical of the move to detain Ibori any further.

“Mrs. Justice May rejected the Home Secretary’s requests for conditions to be imposed and ordered Ibori’s immediate release.

“Ivan Krolic, who also attended, explained that Ibori’s confiscation proceedings collapsed in 2013, after the prosecution was unable to establish any theft from the Delta State and any benefit for Ibori from anywhere.

“A three-week hearing which heard live evidence was abandoned by the prosecutors – Wass, QC, and ShutzerWeissman. Both prosecutors have since been dismissed from the case for gross misconduct.

“Krolic further explained that British police officers in the case led by DC McDonald, have again been referred to the Independent Public Complaints Commission and now face a thorough investigation into their corrupt activities in this case.

“The CPS has confirmed officers in the case were corrupt. It has since disclosed substantial material evidencing the graft.

“Ibori and others have long maintained that this prosecution was politically motivated. But it was funded by the UK’s Department for International Development (DFID) whose senior employee was also the jury foreperson in one of the earlier trials,” the statement added.

The Ibori case has been plagued by British police corruption, exceptional prosecutorial misconduct and fundamental non-disclosure.

A multitude of appeals have now been launched or are in the process of being launched, Eluemunor said.

Two-Minute Briefing

his reaction to news of Ibori’s release.

Also, former governorship aspirants, Dr. Festus Okubor, Hon. Ejaife Odebala as well as media and social commentator, Mr. Willy Bozimo, said with Ibori’s anticipated return he would fill a void in the politics of the Delta State and thereby unite the state.

Okubor, who was also a commissioner in the state, noted that the former governor could not be abandoned, as he did not abandon his own even while serving his jail term in Britain, adding that Ibori even reached out to the militants in the Niger Delta following the recent resurgence of militancy in the oil-rich region.

Okubor, who waxed lyrical in showering encomiums on his leadership style, said of Ibori on his Facebook page: “Odidigboigbo of the Universe, you are a classical man; kind, pragmatic, robust, astute and urgent chief. You touched the lives of men innumerably and positively affected destinies on God’s behalf. You made some cry for joy; you made others smile for their temporal success of hounding you.

As you always insisted, your calling is to make society better and give joy and happiness to man.

“They thought your friends and lovers will cry; they believed we will despair, they wished the flock will scatter but we knew better.

“We knew that God cannot forsake a good man. We saw clearly that God for His reason alone has ordained a wilderness experience for your refilling for His greater use for the salvation of Nigeria.

“Moses went through the same, separated from his people for saving their good. We never feared, we never floundered, we never got distressed…”

Similarly, Odebala, who is the incumbent chairman of Sapelle Local Government Area in the state, told THISDAY on phone that God had freed Ibori because he ruled his people with passion and a good heart, adding: “The political atmosphere in the state will not remain the same with the release of Chief James Onanefe Ibori.”

Bozimo, who described Ibori as “the wonder kid of Oghara”, added: “We wait for an illustrious son who fell on evil days, hoping his return would provide a formidable leader in Delta State who will move us in the right direction.”

For Charles Eyimofe Pemu, an Itsekiri leader, Ibori should be given a second chance because he had showed sagacity as a politician despite his travails, saying he could come back reinvigorated as a leader of his people.

Pemu, who described Ibori as the best politician to emerge from the South-south geopolitical zone, noted: “Though he is not a saint, he remains the best politician in the South-south region; only that he played his politics in ‘Maradona’ style, but should we dump him? No! “The northerners and westerners will not do so. Why should we dump our political lion? We need him to teach us some of the moves and how to rule; that is why he must return.

“Note that a former armed robber can become a defender of his people because he understands how to make use of the gun.”

It is not clear if President Muhammadu Buhari will honour his invitation to visit Enugu today.

But a statement credited to the Indigenous People of Biafra (IPOB) warning him not to come to the state is not only reckless but an open invitation to anarchy.v Page 15

POLITICS Wike: Condition for Peaceful

Polls in Rivers is Simple After a recent tour of projects with h journalists from across the country, y, the Rivers State Governor, Mr. NyesomeWike assured the people e that the state is not at any risk due to indebtedness.

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FEATURES Poor Waste Disposal in

Kuchigoro, Karmo On the occasion of theWorld Soil Day 2016 which underscored the importance of a healthy soil to the environment, Chineme Okafor writes on the dilemmas of two urban poor women in Abuja’s Kuchigoro and Karmo…

Page 20

BUSINESS ‘GSM Technology for Voice

Communication Will Become Obsolete Soon’ In spite of its technical capacity to deepen voice communication in Nigeria and other regions of the world, GSM technology that is driving voice communication, would soon become obsolete and unsustainable…

Page 19

HEALTH Drawbacks of Nigeria’s Health

Sector Incessant strikes by doctors and health workers, medical tourism, low budgetary allocations, brain drain, poor research culture and a host of other issues have been identified by experts as…

Page 36

INTERNATIONAL Berlin Truck Attack: Police Hunt forTunisian Suspect A manhunt is under way across Europe after prosecutors identified a suspect in the deadly lorry attack on a Berlin Christmas market.

Page 50

SPORTS CAF Competitions: Tough Draws

for Rangers, Rivers Utd, Others Nigerian club-sides listed for actions in 2017 CAF club competitions were handed tough oppositions in the draws conducted in Cairo, Egypt yesterday.

Page 54

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THURSDAY DECEMBER 22, 2016 ˾ T H I S D AY

NEWS

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

NEITI: Federation Earned $61.2bn from 1.28bn Barrels of Oil in 21 Months Says NNPC recorded N419bn operational loss in 19 months

Chineme Okafor in Abuja The Nigeria Extractive Industries Transparency Initiative (NEITI) has put Nigeria’s aggregate crude oil production and earnings within the last 21 months when the Nigerian National Petroleum Corporation (NNPC) began to publish its monthly production and financial records, at 1.28 billion barrels and $61.17 billion, respectively.

NEITI said it used the aggregates from NNPC’s monthly production and financial records for the period to arrive at the 1.28 billion barrels of crude oil that was produced, of which the international oil companies (IOCs) and independents lifted 809.98 million barrels, the federal government lifted 441.37 million barrels while alternative financing (AFs) arrangements lifted 30.15 million barrels.

It said in a summary on its latest accountability publication titled: “Occasional Paper Series,

A Review of NNPC’s Financial and Operational Reports;” released yesterday in Abuja that of the $61.17 billion that accrued as revenue over the 21-month period, the government, IOCs, independents and AFs earned $20.9 billion, $38.78 billion and $1.5 billion, respectively.

The NEITI publication was produced with BudgIT, a leading Nigerian technology-driven, civicadvocacy group on budget and public finance issues.

NEITI further stated that NNPC recorded a trading deficit of N418.97 billion in 19 months, and profit of N7.87 billion in only two months.

It said crude oil production and financial data publicly disclosed

by NNPC over the 21-month period, starting from January 2015 to September 2016, showed that only 9.74 per cent of the crude lifted

by NNPC for domestic crude was delivered to the refineries.

It explained that crude oil

production fluctuated in the period under review, with the highest production per month recorded in October 2015 (69.49 million barrels) and the lowest recorded in August 2016 (46.56 million barrels).

“When the production figures for January 2015 (68.07 million barrels) and September 2016 (49.53 million barrels) are compared, there was a decline in monthly production by 27.23 per cent.

“The same trend was noticeable in terms of average daily production per quarter, as 2.16 million barrels were produced daily on the average in the first quarter of 2015 as against the 1.60 million barrels average daily production per quarter in the third quarter of 2016,” it added.

It noted that the fall in oil

production was largely attributed to growing vandalism and militancy in the Niger Delta region. However, production fluctuations were noticeable even before the outset of militant activities, NEITI added.

On NNPC’s profit and loss account, the report stated: “For the 21 months under review, the NNPC group made a cumulative loss of N418.97 billion in 19 months.

Volatility was also noticeable in the group’s losses, ranging from N3.55 billion in January 2016 to N45.49 billion in September 2015.

“The group made a profit only in two of the 21 months covered by the NNPC monthly reports under review. This was in January 2015 when the group made a profit of N7.6 billion and in May 2016 when it made a

profit of N0.27 billion, with total profits in 21 months coming to N7.87 billion, as against the loss of N418.97 billion, with the net loss coming to N411.1 billion.”

NEITI explained that between January 2015 and September 2016, the average capacity utilisation of Nigeria’s refineries in Port Harcourt, Warri and Kaduna was 8.55 per cent, adding: “The refineries did not process crude oil at all in seven out of the 21 months under review.”

It said the Kaduna refinery was the poorest performer while the Port Harcourt refinery was the best performer.

NEITI’s Executive Secretary, Waziri Adio, however, said in his reaction to the data that the NNPC has with the monthly

reports voluntarily embraced transparency, a virtue he said was critical to the efficiency of the country’s oil industry.

Adio said: “What NNPC has done with its monthly reports could be termed a sea-change. From being the poster boy for opacity, NNPC is voluntarily embracing openness and providing near real-time information about the state of play of our oil and gas sector today.

“This is commendable, but also deserving of close and critical examination. For example, what do the reports, looked at together, tell us about our petroleum sector today and what is the implication of that for the public, for public finance and for petroleum sector reforms? That is the rationale for this special report.”

47 Career Ambassadors Get Postings The federal government has released the postings of the 47 career ambassadors recently appointed

by President Muhammadu Buhari.

The ambassadors are currently undergoing a four-day induction which ends today.

Their postings according to the News Agency of Nigeria (NAN), are as follows: Abia: Obinna Chukwuemeka Agbugba (Togo), Adamawa: Salisu Umaru (Senegal), Paragalda Ilyasu Audu (Turkey), Akwa Ibom: Inyan Udo-Inyang (Gabon), Anambra: Okeke Vivian Nwunaku (Spain), Nonye Udo (Austria).

Bauchi: Liman Munir (Congo), Benue: Ndem Jane Ada (Sweden), Demenongu A. Agev (Equatorial Guinea), Borno: Mohammed Hassan Hassan (Kenya), Toko Ali Gongulong (Sao Tome & Principe), Lawan Abba Gashagar (Mali), Cross River: Martin Nyong Cobham (Thailand), Odeka Janet Bisong (Zimbabwe).

Delta: Janet Omoleegho Olisa (Jamaica), Edo: Itegboje S.Sunday (Permanent Mission in New York),

Queen I. Worlu (Cuba).

Others are: Ekiti: Olatunde Adesesan (Angola), Emmanuel Kayode Oguntause (Benin), Enugu: Lilian Ijeukwu Onoh (Namibia).

FCT: Adamu Onoze Shuaibu (Rwanda), Gombe: Manaja Tula Isah (Israel), Habu Abubakar Gwani Ibrahim (Zambia), Imo: Ngozi Ukaeje (Portugal), Kenneth C. Nwachukwu (Cameroon), Jigawa: Bello Kazaure Huessini (North Korea), Kaduna: Enoch Pear Duchi (Ireland), Kano: Garba Baba (Poland), Rabiu Akawu (Algeria).

Katsina: Usman Bakori Aliyu (China), Ibrahim Hamza (Iran), Kebbi: Umar Zainab Salisu (Botswana), Kogi: Momoh Sheidu Omeiza (Liberia), Kwara: Kadiri Ayinla Audu (Permanent Mission, Geneva) and Olufemi Abikoye (Ghana).

Lagos: Balogun Hakeem (Indonesia), Nasarawa: Inusa Ahmed (Ethiopia), Niger: Ibrahim Isah (Australia), Ogun: Bankole Adegboyega Adeoye (Belgium), Sonaike Adekunbi Abibat (Philipines).

Gambia’s JammehVows Not to Step Down Gambian President, Yahya Jammeh, has said he will not step down as he condemned mediation by West African regional bloc, Economic Community of West African States (ECOWAS), to get him to leave power after he lost the December 1 election to challenger Adama Barrow.

The comments on state television late last Tuesday were a hardening of the veteran president’s position after days in which hopes mounted he could be persuaded to hand over power at the end of his mandate on January 18 when Barrow is due to be inaugurated.

“I am not a coward. My right cannot be intimidated and violated.

“This is my position. Nobody can

deprive me of that victory except the Almighty Allah.”

“Already, the ECOWAS meeting was a formality. Before they came, they had already said Jammeh must step down. I will not step down,” he said.

Jammeh initially accepted the results of an election whose outcome was seen across Africa as a moment of hope.

He is accused by human rights groups of the detention, torture and killing of perceived opponents during his 22-year rule.

On December 9, he reversed his position and said he would challenge in the country’s Supreme Court the results of an election he said was riddled with irregularities.

SHOPRITE’S EXECUTIVE CUSTOMERS…

L-R: Ogun State Commissioner for Commerce and Industry, Mr. Bimbo Ashiru; Chairman, Shoprite, Mr. Tayo Amusan; and Ogun State Governor, Senator Ibikunle Amosun, at the opening of the first Shoprite mall in Ota, Ogun State… yesterday abiodun ajala

Saraki to Launch ‘Made-in-Nigeria Challenge’ in January Enang: 2017 budget process will be better than others Omololu Ogunmade in Abuja Senate President Bukola Saraki yesterday announced his plan to launch ‘Made-in-Nigeria Challenge’ in January 2017 to serve as the platform for the promotion of made-in-Nigeria products with the intention to boost small and medium scale enterprises in the country.

Saraki, according to a statement by his Special Assistant on New Media, Bamikole Omisore, stated that the ‘Made-in-Nigeria Challenge’ initiative would afford entrepreneurs in the country the opportunity to connect manufacturers that produce alternatives to imported products.

The initiative, according to the statement, will not only be of immense assistance to prospective entrepreneurs but will also open doors of opportunities for established local manufacturers to compete in international markets.

“On January 2, 2017, my office will launch #MadeInNigeria challenge to connect investors to manufacturers that produce alternatives to imported products, since inception of the eight Senate, we have championed and encouraged the patronage of #MadeInNigeria goods so as to jumpstart the economy, and we have also amended the Public Procurement Act to support this agenda.

“In 2017, we intend to take #MadeInNigeria further by using legislation to discourage importation of goods that can be produced locally; take the advocacy directly to Nigerians, work with government agencies to create enabling environment and encourage Nigerians who have eyes for local production i.e. goods that are ready substitute to imported ones” the statement read.

He added that the “From January 2, 2017, using hashtag

#MadeinNigeria, manufacturers can post 45 seconds to three minutes video of a product we are importing but that they can produce using at least 80 per cent local content.

“Those shortlisted will be invited to a roundtable with investors and government agencies such as Bank of Industry (BoI), Standards Organisation of Nigeria (SON), Central Bank of Nigeria (CBN), Bureau of Public Enterprises (BPE) and so on.”

Meanwhile, Senior Special Assistant to the President on National Assembly Matters, Senator Ita Enang, at a press briefing in Abuja yesterday said the $30 billion loan request by President Muhammadu Buhari, if approved, could take the country out of recession because it could cover development projects spanning three years and not restricted to 2017 alone.

“Remember that this $30 billion request was not to be spent in 2016, 2017 or 2018. It was a projection for three years, therefore the Senate has remitted it back to the president requesting further and it is still pending in the House of Representatives.

“I am sure you could observed in recent times the level of consultation between the arms of government and the apex leadership level and also at the level of the subcommittees levels between the ministers and the committee.

“These are all intended to address and resolve any question which could be thorny in any of the request made by the executive,”Enang said.

He described the bills assented to by Buhari last Tuesday as unprecedented, adding that the 2017 budget process would be smoother than previous ones because there were enough consultations before it was drafted.

THURSDAY DECEMBER 22, 2016 ˾ T H I S D AY

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NEWS

Malabu: Again, Adoke Denies Wrongdoing Says he saved Nigeria $2bn liability through deal Tobi Soniyi in Abuja Former Attorney General of the. Federation (AGF) and Minister of Justice, Mohammed Bello Adoke (SAN) has again denied any wrongdoing in the handling of the Malabu Oil and Gas Limited deal for which he and eight others were charged before a Federal High Court.

In a statement he issued yesterday, Adoke who is outside Nigeria, said he saved Nigeria from a liability of $2 billion in damages through the deal.

He said: “My attention has been drawn to the charges filed by the Economic and Financial Crimes Commission (EFCC) against me and other named individuals and companies in respect of OPL 245 Settlement Agreement involving Malabu Oil and Gas Limited and Shell Nigeria Ultra Deep Limited.

“The charge of aiding the commission of money laundering offences preferred against me has finally confirmed the orchestrated plans to bring me to public disrepute in order to satisfy the whims and caprices of some powerful interests on revenge mission.”

The former AGF insisted that he acted within the actual and ostensible authority of the office he occupied to broker a settlement between Malabu Oil and Gas Limited and Shell Nigeria Ultra Deep Limited in order to ward off the over $2 billion liability in damages for breach of contract which the country would had been exposed to in the likely event of the success of Shell Nigeria

Ultra Deep Limited’s claim before the International Centre for the Settlement of Investment Disputes (ICSID).

He said the terms of settlement ensured that the interests of the federal government, Malabu Oil and Gas Limited and Shell Nigeria Ultra Deep Limited were duly acknowledged and provided for in the settlement agreement.

He explained that the federal government was entitled to the signature bonus which was duly paid; Malabu Oil and Gas Limited surrendered its title to OPL 245 for a consideration and Shell Nigeria Ultra Deep Limited was re-allocated OPL 245 which it had previously substantially de-risked in consideration for withdrawing their over $ 2 billion claim for breach of contract against the federal government.

He said: “Since the parties aforementioned, faithfully discharged their respective obligations under the settlement agreement, one cannot comprehend how the Office of the Attorney General of the Federation which brokered the settlement was expected to renege from the agreement by denying Malabu Oil and Gas Limited the benefits associated with the relinquishing of their title to OPL 245 already warehoused in a joint FGN/Shell Escrow account, or to prevent the subsequent re-allocation of the relinquished OPL 245 to Shell Nigeria Ultra Deep Limited when the company had already furnished consideration for it to the federal government.”

Adoke said it should be clear to any person dispassionately reviewing the transaction to

Fayose Accuses INEC Chairman of Destroying Jega’s Legacies Victor Ogunje in Ado Ekiti Ekiti State Governor, Mr. Ayodele Fayose, has faulted the Chairman of the Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu, on the reasons for the renewed electoral violence in the country.

Fayose said: “Violence returned to our electoral process because of INEC partisanship and manipulation of the electoral process in favour of the All Progressives Congress (APC).”

He said: “Rather than lamenting, the INEC chairman should return the electoral commission to what he met by detaching it from the APC, which INEC has obviously merged with,” adding that; “if INEC is neutral as it used to be before APC took power, there won’t be electoral violence.”

In a statement issued yesterday, by his Special Assistant on Public Communication, Lere Olayinka, Governor Fayose said: “There were elections in Nigeria between 2011 and 2015, and those elections were credible, such that Nigerians were sure that popular candidates and parties would emerge victorious because votes were allowed to count.

“Then, violence was no longer part of our electoral process. But

sadly, this present INEC has destroyed all those gains and returned Nigeria to the era of ballot box snatching.

“By returning to the old system of accreditation and voting at the same time, and destroying the credibility of our electoral process, such that unpopular candidates are now having an edge over and above those acceptable to the people, INEC by itself caused the electoral violence witnessed in the last 12 months.

“Even judges that will sit on election matters are now pre-arranged and picked even before the election, such that after using INEC and security agencies to pervert the will of the people, tribunals are used to authenticate the electoral fraud.

Meanwhile, Fayose yesterday signed the state’s 2017 Budget of N94 billion into law.

It was an increase of N1billion against the estimates of N93 billion presented to the state House of Assembly by the governor some weeks ago.

According to the Speaker, Hon. Kola Oluwawole, the extra N1 billion was added to the capital expenditure presented to the assembly. Fayose said Ekiti was among the four states of the federation where the 2017 Budgets had been passed into law.

confirm that he had no personal interest in the transaction and did not take any benefit from it.

He said: “I had requisite approvals from the President and Commander in Chief of the Federal Republic of Nigeria to broker the settlement and execute the OPL 245 Settlement Agreement.”

He added that he would make himself available at the appropriate time to defend himself.

Adoke was charged alongside former Minister of Petroleum,

Dan Etete, the Chairman A.A. Oil, Alhaji Aliyu Abubakar, six companies for alleged complicity in the payment of $400million to Malabu Oil and Gas from Nigeria Escrow Account with JP Morgan Chase Bank in London.

The money was said to have been paid into Malabu’s account in the defunct Bank PHB now Keystone bank.

The offence was said to have been committed on or about 24 August 2011.

The six companies charged

alongside Etete, Adoke and Abubakar are Malabu Oil and Gas Limited, Rocky Top Resource Nigeria Limited, Imperial Union Limited, Novel Property and Development Co. Limited, Group Construction Limited and Megatech Engineering Limited.

They were said to have committed an offence contrary to section 15 (2) of the Money Laundering (Prohibition) Act 2011.

In count two, Etete and Malabu Oil were accused ot

taken control of $401million paid from the federal government Escrow Account with JP Morgan Chase Bank in London into the account of Malabu Oil in First Bank Nigeria Plc when they knew the money formed part of proceeds of unlawful activity to wit: fraud and thereby committed an off ence under section 15( 2) of th e Money Launder in g (Prohibition) Act of 2011 punishable under section 15( 3) of the same A ct.

CNPP Backs Senate’s Rejection of Magu as EFCC Chairman Ogheneuvede Ohwovoriole in Abuja The Conference of Nigeria Political Parties (CNPP) has asked the leadership of the Senate not to bow to unwarranted pressure and the antics of persons wishing to be immune from corruption, saying the rejection of Mr. Ibrahim Magu, as Chairman of the Economic and Financial Crimes Commission (EFCC) fits into the ongoing war against corruption in the country.

The umbrella body of all registered political parties and political associations in a statement signed by its National Chairman, Alhaji Balarabe Musa and Secretary General, Chief Willy Ezugwu, in Abuja ysterday, noted that Magu’s rejection was in order, calling on the Senate to scrap the EFCC as “the anti-corruption agency has become a den of corruption.’’

The CNPP said: “Recent developments have shown that the EFCC as an anti-corruption institution, has been fingered in shoddy activities, which the commission is yet to provide satisfactory answers to.’’

“For us in the CNPP, the EFCC as presently established and constituted has outlived its usefulness. A situation where the EFCC is being accused of looting recovered looted funds is not only a dent on the anti-corruption agency but also a clog in wheels of the anti-graft efforts of President Muhammadu Buhari administration is compromised.

“No matter the sincerity of any President of Nigeria in the fight against corruption, if the head of the EFCC is rotten, there is nothing he or she can do to succeed.’’

The CNPP urged the Senate to be mindful of the antics of persons wishing to be immune from corruption, who are working to ensure that effort to strengthen the war against corruption by the Muhammadu Buhari administration.

The party added: “The CNPP has observed that these enemies of Nigeria will stop at nothing to have their way, to the extent that they are now trying to manipulate the Department of State Services (DSS) to rewrite its security report that indicted Magu. This must not be allowed by all well-meaning Nigerians, who wish this country well as the Senate’s rejection of Magu is in order.

“We wonder why a security report on Magu should be disputed while security report that indicted justices of the Supreme Court and some other judges should be relied

upon. Does it not speak of double standard? Or are there spanners within the anti-corruption system working to undermine the anti-graft war?’’

CNPP warned the DSS not to allow itself to be used by corrupt politicians and corrupt officials of the EFCC who are putting pressure on the service to change its security report on Magu.

Referring the Senate to an independent investigation by one George Uboh, which detailed the rot in the EFCC since inception, CNPP further stated that the efforts

by the young man to get the eyes of the federal government opened on the extent of looting of recovered loots by some EFCC leadership since inception is yet to yield result.

“The Uboh’s findings and documents in his possession, which the CNPP has seen, will help the Senate a lot in further legislative work on anti-corruption war in Nigeria,’’ the group stated.

“It is time for the Senate to scrap the EFCC by repealing its Establishment Act as the agency has become a den of corruption. If need be, a new anti-graft agency should

be established with its members appointed by stakeholders outside the executive arm of government if we must win the war against corruption in Nigeria.’’

The group reasoned that the Senate is now the hope of rescuing the country from those who want to hijack the anti-corruption war with the hope of continuing the looting of recovered loots by under-declaring how much they actually recovered from the looters, saying this has been going on for years and must be stopped.

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THURSDAY DECEMBER 22, 2016 T H I S D AY

IN THE FEDERAL HIGH COURT OF NIGERIA

NOTICE FOR SALE OF PROPERTIES Pursuant To The Order of Court Dated 11th Day of November, 2016 Published Above; Bids Are Invited from Members of the Public For the Sale of the Following Properties: S/NO. SUBJECT PROPERTY 1 NO.7 SENANGA STREET OFF ACCRA STREET WUSE ZONE 5 ABUJA 2 PROPERTY AT NO.13 BLOCK 2A ALHAJI ALADE ODUNEWU STREET, OFF TONY EROMOSELE STREET, PARKVIEW RESIDENTIAL ESTATE, IKOYI, LAGOS 3 NO. 35 BREADFRUIT STREET OFF MARINA STREET, LAGOS ISLAND, LAGOS 4 NO.46 IBAFON STREET OFF OSHODI – APAPA EXPRESS WAY, OLODI APAPA, LAGOS STATE 5 NO. 13 KENYATTA STREET OFF ZIK AVENUE ACHARA LAYOUT ENUGU, ENUGU STATE

DESCRIPTION OF PROPERTY SIX BLOCKS OF THREE BEDROOM FLATS INCLUDING BOYS QUATERES FENCED VACANT PLOT OF LAND MEASURING ABOUT 1000 SQUARE METERS TWO (2) STOREY BUILDING OF SHOPPING MALL LOCATED IN THE MAIN BALOGUN MARKET LAGOS ISLAND, LAGOS STATE ONE (1) TWIN STOREY BUILDING IN A NEAT FENCED PREMISE MULTIPLE BLOCKS OF FLATS WITH SHOPS IN A LAREGE PREMISE

All Bids are to be directed to the Receiver/Manager; Barr. Victor Nwadigo of King’s House Solicitors, Suite 3004, Anbeez Plaza, Wuse Zone 5, Abuja.

Please Note: Properties will be sold at Best Value. For inspection, inquiries, and sales please contact VICTOR NWADIGO LL.M (Kent) MCIArb (UK) BL. RECEIVER MANAGER 080951266666/0705633744

T H I S D AY THURSDAY DECEMBER 22, 2016

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T H I S D AY THURSDAY, DECEMBER 22, 2016

COMMENT

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

HOW AFRICA CAN TACKLE FOOD INSECURITY Africa’s agriculture can be transformed by building the capacity of farmers, argues Paul Okolo

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frican countries were among the hardest hit by last decade’s global economic crisis and the slump in commodity prices. And no country was more profoundly impacted than oil-rich Nigeria. While its crude oil sold above $100 a barrel and its vaults were awash with petrodollars, the government blew away the resources on prodigal, frivolous spending. Those charged with protecting the commonwealth mindlessly frittered the windfall. Instead of deploying the funds into agriculture, solid minerals, manufacturing and other income-yielding industries, the country became complacent, importing everything from toothpick to tomato paste, and putting away little or nothing for the inevitable lean years. Diversifying the economy was only a slogan mouthed by politicians with no corresponding action. As oil accounts for over 70 per cent of government revenue and more than 90 per cent of foreign exchange earnings, shocks to global oil prices had “significant effects” on the Nigerian economy, Vice-President Yemi Osinbajo said on Dec. 5 at the 11th African Economic Conference in Abuja. As the oil price slump easily exposed its soft economic underbelly, Nigeria is compelled to now give other sectors, particularly agriculture, the attention it’s been demanding for decades.

The same is true of many African countries whose economies became vulnerable because of their dependence on one commodity. Liberia, rich in iron ore and rubber, is one of those countries that forced to return to the land, according to Charles Mclain, Deputy Minister in its Ministry of Agriculture.

The crash in the price of iron ore and the destructive Ebola epidemic it experienced in 2014 triggered an agricultural transformation in the country, he said. “Without them, I don’t know where agriculture would be in Liberia.”

Faced with similar economic difficulties 50 years earlier, South Korea, an Asian Tiger, responded correctly. The country adopted a clear plan to drive import substitution by raising agricultural productivity through industrialisation to achieve food self-sufficiency. The formula it adopted was one of agriculture allied with industry, manufacturing and processing capability, resulting in strong and sustainable economic development and wealth creation. This couldn’t have been possible without strong political will, solid long-term planning and execution, structural transformation policies and robust investments in human capital. Today, Korea’s per capita gross domestic product is 17 times that of sub-Saharan Africa, while its total GDP is $1.3 trillion, compared to $1.6 trillion for sub-Saharan Africa, said Akinwunmi Adesina, President of the African Development Bank. Korea is also the 11th largest

IF THE CONTINENT CAN TRANSFORM ITS PRESENT SUBSISTENT AGRICULTURE INTO A THRIVING BUSINESS, IT WILL NO DOUBT BE ABLE TO GUARANTEE FOOD SECURITY, ELIMINATE HUNGER, AND CREATE JOBS AT HOME RATHER THAN CONTINUE TO EXPORT THEM TO THE U.S., EUROPE AND ASIA

economy in the world and a generous donor of development finance.

Today, Asia’s agricultural output is led by large private agri-business enterprises engaged in industrial agriculture.

Agricultural output per worker has risen on average by 2.2 per cent per year between 1980 and 2010 in Asia, compared to 0.6 per cent in sub-Saharan Africa. Without the green revolution, Asia couldn’t have become the industrial and economic giant that it is today, said Adesina. Clearly, Africa can learn a lot from the successful Asian experience to drive agro-industrialisation. Given the continent’s agricultural potential, emulating this Asian model can only yield positive results. With 60 per cent of the word’s remaining arable land which translates to 600 million hectares of global uncultivated land, experts say it’s preeminently qualified to not only feed itself but the rest of the world. Unfortunately, Africa countries import food items worth $35 billion yearly.

While Nigeria alone accounts for $5 billion, Democratic Republic of the Congo spends around $1 billion. This is unacceptable and must be stopped. Much of this funds could be ploughed into the provision of social and physical infrastructure that is capable of spurring positive growth for the countries concerned. Surely, if the continent can transform its present subsistent agriculture into a thriving business, it will no doubt be able to guarantee food security, eliminate hunger, and create jobs at home rather than continue to export them to the U.S., Europe and Asia. This will give a boost to intra-African trade and sustain the level of growth required to get Africa out of the poverty cycle. But the desired transformation will only emerge after African countries have put in place strong and inclusive institutions backed by well-coordinated development plans,” said Abdalla Hamdok, the acting Executive Secretary of the United Nations Economic Commission for Africa. Experts will be quick to point out that Africa’s problem isn’t a lack of development plans but the ability to implement them. As Ayodele Odusola of UNDP’s Africa Regional Bureau put it, “there’s no African country that doesn’t have what it takes to drive the agricultural sector and guarantee food security and narrow inequality; the missing link is implementation.”

Also, the need to build agricultural capacity is imperative now more than ever before. This is because the continent can’t hope to use yesterday’s back-breaking implements to meet the needs of its one billion people and the rest of the world. Thanks to science and technology, the quantity and quality of Africa’s agricultural produce can today be vastly improved. In this regard, I totally agree with Prof. Paul Amaza of the University of Jos who said “If we’re going to succeed (in transforming Africa’s agriculture), we must build the capacity of our farmers.”

TRAVAILS IN THE TEMPLE OF JUSTICE (1) Chuks Chidiebere argues that Nnamdi Oji of APGA was denied justice

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hen on October 1, 2016 Soji Oye, NJC spokesman, issued a statement conveying the dismissal (along with two other state high court judges for other infractions) of Justice Mohammed Ladan Tsamiya, Presiding Justice of the Court of Appeal, Ilorin Division, for demanding a bribe of N200 million from a litigant to ensure a favourable verdict in his election petition appeal, many Nigerians were appalled at yet another instance of flagrant corruption within the sanctum of the judiciary.

On January 7, 2016, Nnamdi Iro Oji, the All Progressives Grand Alliance (APGA) candidate in the Arochukwu/Ohafia Federal Constituency election for the House of Representatives petitioned the Disciplinary and Investigative Panel of the National Judicial Council (NJC) against four justices of the Court of Appeal, namely Justices Mohammed Ladan Tsamiya, Hussein Mukhtar, Fatima Omoro Akinbami, and Jamilu Yammama Tukur. In the petition he averred that the first respondent was the intermediary between him and the second to fourth respondents – justices who, as members of panel two at the Court of Appeal, Owerri Division of the Court of Appeal, that sat on the petitioner’s case and gave judgment on December 10, 2015.

The petition backed up by supporting affidavits bordered on allegations of “corruption, malice, vindictiveness and the giving of perverse and conflicting decisions on the same issue in similar matters” concluded with an assertion that the petitioner was denied justice, because he refused to pay the Appeal panel N200 million bribe through

and at the behest of the first respondent, Justice Mohammed Ladan Tsamiya, whom he met thrice in his Sokoto, Abuja residences and the Owerri guest house of a prominent traditional ruler in Imo State in Imo State.

After due consideration of the issues, the NJC “in the exercise of its disciplinary powers under the 1999 Constitution as amended” on October 1, 2016 announced the suspension of Justice Tsamiya along with recommendation for his compulsory retirement from service by President Buhari. However, in a tenuous twist, the NJC absolved the others for “lack of sufficient evidence” to link them to the wanton demands of Justice Tsamiya as to warrant their being disciplined.

However, that effort to whitewash the members of the panel two of the Election Appeal Panel in Owerri convinced only a few, as everyone knows that intermediaries are often used in such matters.

Again, the NJC’s explanation that the judgment in respect of Suit No. CA/OW/ EPT/SN/50/2015: to wit, Chief Dr. David Ogba Onuoha Bourdex Vs Hon. Mao Ohuabunwa & Anor, and Suit No. CA/ OW/EPT/SN/47/2015; Dr. Orji Uzor Kalu & Anor Vs Hon. Mao Ohuabunwa & Others on the one hand; and the corresponding Suit No. CA/OW/EPT/HR/61/2015 of Nnamdi Iro Oji Vs Nkole Uko Ndukwe & 16 Others are different because the former was a senatorial district that “covered one-third of the state” cannot hold water, save and except there is an affirmative answer to the question whether the House of Representatives and Senatorial elections were conducted under different “Electoral Acts”. However, legal scholars and luminaries believe that such a distinction cannot stand objective scrutiny

because both elections took place the same day and the time and in the same places in Arochukwu Local Government Area, and were conducted based on the same electoral act.

Legal niceties aside, Nigerians know who to hold responsible when “the witch cries in the night and the baby dies the next morning”.

Again, there were simply too many inconsistencies and inaccuracies in the concurring notes of the third and fourth respondents to the judgment under reference to be ignored.

Justice Hussein Mukhtar claimed that “the improper filing of the initiating process at the lower tribunal has rendered the entire proceeding thereat void and the appeal emanating therefrom to insignificance...” was the panel’s reason for striking out the case.

The snag with this written claim of Justice Mukhtar is that the case had no such originating defects, and “improper filing” was never cited as the basis for “striking out the case”. The fact is that the case was not struck out as Justice Mukhtar erroneously asserted.

The other panelist, Justice Fatima O. Akinbami, on her part, in her concurring letter wrote, inter alia, that “I abide by all the orders made therein,” equally throws ample light on the pre-formed mindset of the panel.

This is so because there again there were no orders made in the lead judgment read by Justice Jamilu Yammama Tukur.

These are, therefore, clear indications that the panelists were slipshod and in complete dereliction of duty in the discharge of their judicial responsibilities, or were disinterested in exerting intellectual rigour and pains in the handling of the case because of the

“uncooperative attitude” of the petitioner.

This presents very strong circumstantial evidence that the judgment may have been affected by the whiff of corruption.

The incorrect, unwise and unfortunate decisions captured for the records in the concurring letters under reference are proofs of the fact that the panelists approached that case with such bias and exhibited a crass lack of information and care and made such rudimentary mistakes that are inexcusable in a sound judgment. Such a bad judgment therefore needs to be expunged immediately and the injury it fostered righted without much ado.

Similar alterations, mutilations, inflation of votes and/or deflation of votes took place in Arochukwu LGA, an action which the INEC Committee Report said took place in 57 polling units with their results either “mutilated or inflated” while seven polling units “had no results recorded”. Thus 64 polling units out of a total of 149 polling units or 43% of the electoral strength in the LGA “were found to be deficient in the EC8B(1)” and thus substantially affecting the election results.

Is not instructive that in all the 57 polling units where mutilation and alteration were noted, the PDP row was always involved and always entailed inflation of figures? The rows of the other parties were always neat. On the other hand wherever the APGA row was mutilated, it always recorded the deflation of its legitimate figures. The question then is: why did both the trial tribunal and panel two of the Appeal Court at Owerri not acknowledge let alone consider these vital pieces of evidence in arriving at their respective verdicts in the Nnamdi Iro Oji election petition?

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T H I S D AY Ëž Ëœ Í°Í°Ëœ Í°ÍŽÍŻÍ´

EDITORIAL RESOLVING THE IPOB LOGJAM

The Indigenous People of Biafra should channel their grievances through the appropriate quarters

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t is not clear if President Muhammadu Buhari will honour his invitation to visit Enugu today.

But a statement credited to the Indigenous People of Biafra (IPOB) warning him not to come to the state is not only reckless but an open invitation to anarchy. “We warn any governor or Igbo politician that receives Buhari in Enugu will have himself or herself to blame. We make it public that should there be a breakdown of law and order in Enugu on December 22, greedy Igbo politicians will have themselves to blame�, said the statement signed by Emma Nmezu and Clifford Chukwuemeka Iroanya, who described themselves as spokespersons of IPOB. Against the background that an unfortunate civil war was fought and it ended with the collective resolve to keep Nigeria as one indivisible sovereign entity, we condemn in very strong terms those bent on disturbing the peace of our country, especially at this time. As we have argued in the past, whatever may be their grievances, we do not believe those touting “Biafra� are handling issues the right way even as we call on THE IDEA OF HIDING UNDER the authorities to THE QUEST FOR SECESSION be even handed TO DRAW ATTENTION TO THE in whatever crises DEVELOPMENT DEFICITS IN that may arise ANY PART OF THE COUNTRY as a result of the IS WRONG AND COUNTERcontinued sporadic agitations.

PRODUCTIVE We also call on the authorities to obey the court orders that have at different times asked for the release of IPOB leader, Nnamdi Kanu, who has been incarcerated for several months now. Denying him his rights under the law only goes to justify his claims that Nigeria is a “zoo� and that can only help his cause, however misguided it may seem.

We note particularly that for over a decade now, the Movement for the Sovereign State of Biafra

(MASSOB) has been trying to rekindle the Biafra ďŹ re without success. Gradually and steadily, the agitation led by Ralph Uwazurike began to lose steam and relevance until Kanu entered the fray with IPOB. For the alleged crime of running an illegal radio station, he was arrested at the nation’s point of entry and is now being tried for sedition.

Since then, the demand for his release has been interlaced with the demand for the state of Biafra and there had been bloody clashes.

It is signiďŹ cant that the elite corps of the Igbos have neither supported nor endorsed the activities of the IPOB movement. Indeed, the traumatic memories of the Nigerian civil war as evidenced by the starvation, particularly of children, and with over a million dead, should help to reinforce the tomb of the ghost of Biafra. That is why the continuous agitation does not resonate well with the rest of Nigeria, a nation whose strength lies in its diversity.

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very part of the country has representatives at the National Assembly which is responsible for the making of laws for the good governance of the country. Whatever the agitation of any section of the country may be, such can be channelled through their federal lawmakers. The idea of hiding under the quest for secession to draw attention to the development deďŹ cits in any part of the country is therefore wrong and counter-productive.

Yes, Nigeria needs development across board. No part of the country has enjoyed such a signiďŹ cant infrastructural attention than the other. What is required is for all hands to be on deck to fashion out what has to be done to move Nigeria forward. It is within that context that we wholly condemn the continued agitation for the state of Biafra, just as we believe that Kanu should be given a fair and speedy trial in a way that justice would have be seen to have been manifestly done. And such trial, as he has repeatedly argued, cannot be held in secret.

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AS BUHARI PROBES SGF, EFCC CHAIRMAN

I

t is not in doubt that a good number of Nigerians are averse to corruption and other tendencies leeching unto it and would prefer to fight the incubus to stand still to save their country. Nigerians had demonstrated capacity to incinerate the menace two years ago when they stopped the past government headed by former President Goodluck Jonathan adjudged as corrupt from renewing its tenure.

Decay of infrastructure, widening influence of terrorism, gangsterism, armed robbery, prostitution, pipeline vandalism, unbridled stealing from the Nigeria’s commonwealth, flaunting of ill-gotten wealth, forlorn hope on the future, mass unemployment, youths restiveness, dwindling international image and other limitless vices were evidence of corruption which combined and threatened to wreak Nigeria under the past government. But the need to revive hope on Nigeria prodded the electorate to invest trust in the leadership of President Buhari.

Since he came on board, President Buhari administration has made visible efforts to tackle the monster of corruption. His government, using the TSA as a tool, has been preventing the systemic stealing of government funds. The government had fought to prevent the culture of budget padding by legislators.

It has fished out ghost workers, totalling 43,000 within the Federal Civil Service, saving Nigeria over N50 billion monthly.

Not too long ago, the government moved against top level judges alleged to have criminally offered justice to the highest bidders, at different times. Although the action by the government attracted initial public outcry, Nigerians understood better when the National Judicial Council (NJC) sacked some judges on alleged acts of corruption. It was a process aimed at

sanitising and safeguarding the judiciary.

Months ago, the Senate President Bukola Saraki ran into a high storm along with some principal officials who were allegedly accused of forging the Senate Standing Order to smoothen the process of their election. Even at that, Saraki continued to have running battles with the Code of Conduct Bureau and Tribunal on alleged false assets declaration. There were allegations also that some leaders of the Senate acquiesced in padding the 2016 Budget thereby preventing early passage. In all, concerned Nigerians mounted pressure on the president to move in and break heads in the legislature.

Some watchers of the Nigerian politics had insisted that the Senate President vacate his seat in line with convention to allow the probe of allegations against him. The pressures notwithstanding, President Buhari stuck to the principle of Separation of Powers, preferring the law to take its natural course.

Ironically, the Senate which is barely overcoming its trauma on allegations of corruption levelled against its principal officials appears more interested in putting the executive arm of government in pillory. To analysts, labelling the Secretary to the Government of the Federation (SGF), Babachir David Lawal and the Czar of corruption in Nigeria, Ibrahim Magu as corrupt and good for immediate sack is an issue that calls for deeper reasoning.

The hues and cries over the allegations by the Senate against the SGF and the EFCC Chairman notwithstanding, President Buhari again reacted with stoic intervention, ordering the Attorney General of the Federation, Abubakar Malami to institute a probe. The president as usual, set sentiment aside in taking the action which many in Nigeria have continued to applaud.

It is more instructive when the president, through his spokesman, Malam Garba Shehu, said he would await the outcome of the investigations against the aides before taking action.

What the president seemed to have achieved by his order of probe was a prevention of media trial of Babachir and Magu amid perceived failure by the lawmaking arm to give them fair hearing before labelling them as corrupt. In all civilised climes, presumption of innocence is a legal right of the accused in criminal trial.

However, precedence in advanced democracies had proved President Buhari right on his resolve to assign the Attorney General with the task of probing the SGF and the EFCC Chairman.

Years back, the government of the United States had drafted its Attorney General, Janet Reno to probe wide ranging allegation of abuses against a then sitting President, Bill Clinton, more so at a time the illicit affair he allegedly had with then White House Intern, Monica Lewinsky blew into the open. Although Clinton survived the storm, but the US judicial system remained untainted after profiling the alleged infamy against then president, while the nuances of his trial remains in the public domain till date.

However, President Buhari had taken his action away from the realm of conjectures by refraining from drafting both the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to handle the probe of the SGF and Magu.

That, in any case, is to cut off possible sympathy for the accused by the agencies.

Idowu Samuel, Abuja

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16 THURSDAY DECEMBER 22, 2016 T H I S D AY

T H I S D AY THURSDAY DECEMBER 22, 2016

17

18

T H I S D AY ˾ THURSDAY, DECEMBER 22, 2016

POLITICS

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

G U B E R N AT O R I A L I N T E RV I E W

Wike: Condition for Peaceful Polls in Rivers is Simple After a recent tour of projects with journalists from across the country, the Rivers State Governor, Mr. Nyesome Wike assured the people that the state is not at any risk due to indebtedness. Shola Oyeyipo brings the excerpts:

W

e have gone round to see some of the projects by your administration despite the state of the economy. How you are able to achieve these?

It is difficult to answer but as I have said before, what is important is not the amount of resources you have, it is about how you are able to utilise the little you have to make sure that you do not allow contracts to be highly inflated in the sense that contracts that are supposed to be N1bn are put out at N7bn. But overall, I would say that there are certain explanations I cannot give. I have told people, who have spoken with me that we run a Jesus economy.

If you ask, what is Jesus economy? It has to do with things you cannot explain economically.

As an economist, if you are arguing, there are factors that you use to back up your arguments but in this case, you will see that the Nigerian economy is under recession and Rivers’ economy is part of federal economy – companies are folding up, workers are being sacked – that means the income of the state will be coming down as relates to internally generated revenue.

The money we get from the federation account, it is on record that it was last month that we had about N10bn, the highest was about N5bn and we pay pensioners and salaries about N5.6 monthly, so if we use that, it means we will not be able to do projects. But for us, even as the economy has not been doing well at the national level, our IGR has been going up and one cannot explain that while the economy is bad, our IGR is going up?

So, I cannot explain how we are getting money from our IGR when the economy generally is down. If you believe in God, there are things that would happen that you cannot explain and that is why I said we are operating a Jesus economy. Like in the Bible, how many loafs of breads did he use to feed thousands of people?

How spread are these projects and what’s the idea of the cost implications?

All the projects we have been doing cut across the three senatorial districts. On the cost, I want to be precise, but however, since about 18 months, I can rightly say we have spent not less than about N100bn in terms of road construction and other projects, though I do not have the accurate figure, so that I do not make mistake. But the one I can say is the Sakpenwon-Bori road. It is about N9bn. It is 16km road. I can tell you that the road was designed by the previous administration at the cost of N14bn – to use laterite.

Ask your reporters, why couldn’t they tell you the simple truth?

If they conducted free and fair elections here in Rivers State, who would win? Who is going to lose when there is violence? We are going to lose! The only condition is free and fair election as it done all over the world

road was awarded at the cost of about N8bn.

They paid the contractor about N3bn and they abandoned it. We came we completed it.

Former Senate President David Mark came to commission it. There is Abuloma-Woji bridge.

We came, we completed it.

On the way to Etche, there is IgwuritaUmukuruchi road. They could not complete it. We came we completed it. The Woji road towards Aba road they awarded it to LCC but they did not mobilise with one naira so LCC did not go to site. Rather than demolish houses and pay compensations that will not be enough for the people to build another house, we brought the price to about N4bn and completed the road.

Wike...we are running a Jesus economy

But when we came on board, we said how can laterite cost N14bn? And we said we prefer to use sharp sand because of the terrain. So, you will ask yourself, how can laterite cost more than sharp sand? That is to tell you the kinds of problems we have been having in terms of contract award – it is highly inflated. For us, that is not in the best interest of the state.

How much have you been able to do in terms of human capital development and poverty alleviation?

When you talk of poverty alleviation, take for example, you went to Government Girls Secondary School, you could see how many people and contractors are working out there. In terms of helping our people, we have released not less than N3bn for men and women to help them improve on their businesses. In fact, we said they will not pay interests.

In some of the rural areas, there are no medical facilities. If anyone needs emergency care, there is no hospital to provide them with that. So, we also provided private hospital owners, who are also involved in healthcare delivery in the rural areas. Some of them got N25m, N30m; depending on how much you are requesting and we have a committee to supervise and ascertain that the clinics that applied are qualified. The process was not discriminatory. Out of about 30 people that got the loan, non-indigenes were about eight. We told them not to pay interest on the loan. The state government will pay the interests.

I do not see poverty alleviation as the only thing about human capital development. We would also talk about education and scholarship.

When we came on board, which is unfortunate, the previous administration gave scholarship to so many people. Some are not from the state.

Some are from Niger; some from Kaduna and like that. And we owed not less than N7bn as at the time we came on and when I look at the programmes – you see, the problem we have in this country, we are always politicizing issues.

Somebody wants to read Political Science and you are sending him to Canada. Somebody wants to read Literature, you are sending him to India, but here we have so many universities that can take care of these courses. Then, what

was the exchange rate of dollar and naira as at that time and what is the exchange rate now?

Naira is now about N400 plus to a dollar! Look at pounce, almost N600 and look at Euro about N700 and you are talking about not having enough money to pay workers.

And if you pay this N6bn it does not mean you have paid the total tuition fees. And we said the best thing is that some of these courses that we can do in Nigerian universities, come back to the country we will give you scholarship.

Those other courses like medical courses, some kinds of engineering courses, they can stay back and we will pay for those courses!

In terms of human capital development, I will say for now we are doing the best we can. Poverty alleviation does not necessarily mean you should start dashing out money. Like what we are doing now in terms of amnesty, we have made sure that there is a lot of jobs to be done – cleaning of schools, cutting of the grasses – that will engage our youths and help them in making money for themselves.

Did you inherit some of these projects from the previous administration?

No. There are some inherited. When we got on board, the Woji-Akpajio bridge was about 30 per cent. In fact the Nigerian Guild of Editors (NGE) came back now, they will never believe.

When the lawyers came during their annual bar conference, we took them there. That time they were still filling sharp sand there. If they come now and see that we have crossed that bridge, they will never believe it. And the company promised us that by December we will go over the bridge. I did not award the job but it is an important road that whether we like it or not any governor must finish.

Some of the projects started by the previous administration that we felt are key projects we said we should not abandon them because we did not award them. The whole essence is not concerning whether you awarded the project or not. If we have the opportunity of completing the projects, for me, that is the key.

There are so many projects I completed. Take for example the University of Education road was about 40 – 45 per cent completed. I came and completed it. The road Ozuogba-Ogbogoro

Can you talk about the signature project of the former administration, referring to the 21 model secondary schools?

I will always tell the true and it is unfortunate that where we come from people don’t like the truth. It is fraudulent for anybody to talk about 21 model secondary schools. It is very fraudulent! In fact, I don’t know how I forgot when we are entering Bori you would have seen buildings – schools – that is the only one. In fact, it was given to Bori Polytechnics. Mention anywhere. Just go anywhere!

Out of over 500 schools they said they were building in terms of primary school, by their own economic advisory council report, only 200 were completed not furnished! The major ones that were completed and furnished were the ones within Port Harcourt here where I can take you: Elikhia, Rumuomasi, Airforce Base and the old Port Harcourt Primary School.

Investigate into them and ask ‘can we have the location of those 21 schools?’ so that you can see the model secondary schools. If they say they planned to do it, may be. If anyone says he did 21 model secondary schools in this state, I think they would have to take such person for psychiatric test.

A certain woman claims she won an election but has not been sworn in as a member of the state House of Assembly. Isn’t there any way you can facilitate her swearing-in?

Have you checked? Did she go to court or not? Is the matter in court or not? Not only complaining, she went to court. The assembly alleged that she went and impersonated them by using their letterhead paper to write a petition against the Chief Judge of the state, when she is not an assembly member. So, the assembly is saying, how can you impersonate us, when you are not an assembly member yet? So, she went to court. It is good to find out. It is not about what she says. Find out from the other people. What is my business for her not to be sworn-in? PDP has more than two-third. So, please, there is nothing like that.

What is the debt profile of the state?

I inherited N14bn from bank loan, which by our agreement we are paying through bonds which has been taken over by the federal government and they are deducting money from us every month to pay themselves but it is going to inhibit us because if that would be bank, it is going to affect us. So there was the agreement between state governments and the federal government to buy over some of these debts but money is being deducted from us monthly. We are not indebted to workers.

Of course, I inherited six months pensioners pay and four months salaries but I paid all.

As I speak with you, I have paid pensions up till November. I am ready to sign the money to pay them December and workers’ salaries.

But if you asked whether or not we took loan to do projects; which government will not take loan to do projects? So, the state does not have any risk at all.

19

T H I S D AY ˾ THURSDAY, DECEMBER 22, 2016

TRIBUTE

Hurray!!! The Reformer in Room 4.01 is 54 Yusuph Olaniyonu pays glowing tribute to his principal, Senate President Bukola Saraki, who turns 54 on Monday, December 19

T

o borrow the practice of academics, let me define my terms. Room 4.01 in the New Senate Building in the National Assembly Complex, Abuja, is the office of the President of the Nigerian Senate, who doubles as chairman of our bicameral parliament.

And the present occupant of the office is Senator Abubakar Bukola Saraki, a University of London trained medical doctor, scion of the prominent Saraki family of Ilorin, Kwara State, where he had served as elected governor for eight years and also doubled as chairman of the Nigerian Governors Forum between 2006 and 2011.

As the man marked his 54th birthday on Monday, December 19, what defines him is the silent reforms he is working with his colleagues to introduce into the operations of the upper legislative chamber in the country. The changes span the small issues to the key legislative process, which makes the chamber performs its lawmaking, advocacy and oversight functions effortlessly.

For instance, he has been able to persuade his colleagues to ensure that plenary proceedings commence exactly 10 am as stated in the Senate Standing Order, unlike what obtained before now. There is also an order as to what issues come on the floor on each of the three days the Senate sits at plenary. On Tuesdays, the Senate focuses on motions which are intervention instruments on issues of national importance.

Wednesday is now devoted to first and second reading of new bills while Thursday is devoted to consideration of reports from committees working on bills to be passed into laws. Reports on petitions investigated by the Committee on Ethics, Public Complaints and Petitions are also considered on Thursday. Again, the other two days are devoted to constituency visits and committee sittings.

This new system has given order, methods and direction to the work of the Senate. It also makes monitoring of the performance of committees easier. And with the setting up of a Compliance and Monitoring committee headed by Senator Babajide Omoworare, the work of the committees have improved. That is another product of the good leadership under Saraki.

The incumbent Senate President had on resumption last September from the annual recess led his colleagues in making the most fundamental intervention ever made in the history of the lawmaking chamber. With all signs being obvious that the nation’s economy was sliding into a recession, Saraki called some of his colleagues during the recess and they held series of meetings with people in the private sector, the academia and some development partners.

On resumption, he declared that the new agenda of the Senate is now economy, economy and economy. The Senate then held a two-day debate broadcast live on television on the economy after which it came up with a 21-point suggestion presented to the executive.

As part of the 21-point plan, 11 bills were selected as priority economic bills.

By today, four of the bills had been passed into law while six others are about to be submitted for final and third reading before passage into law.

All the economic recovery bills are to be passed with the 2017 budget and submitted for presidential assent early next year.

Also, under Saraki, the Senate now vigorously, consistently and constructively engages and partners the private sector on major issues, particularly on the issue of ease of doing business.

In a reaction to the World Bank Doing Business 2016 Report, which rated Nigeria 169th out of 189 countries, Saraki

Saraki...the change agent in the legislature

immediately inaugurated what is now known as the National Assembly Business Environment Round-Table (NASSBER) in which the legislature partnered the National Economic Summit Group (NESG), the Nigerian Bar Association (NBA) and the United Kingdom Department for International Development (DFID) to review over 100 laws and bills that have to do with establishment of businesses in Nigeria.

Today, the NASSBER report which categorised the bills into high, medium and low priority bills are serving as the compass for the various bills that the Senate is working on. It is believed that if it is easy to establish and run businesses

The legislator in Room 4.01 is a policy wonk, a process man and one who is fixated with strategy. He believes that a task must have an objective. And that every step taken in the accomplishment of the task must be related to the overall objective.

At every point, he asks: why are we doing this?

Does it contribute to our goal and objective?

What is our strategy for this assignment? If these questions are not answered, you may not get his buy-in

in Nigeria, investors will troop into the country, improve the gross domestic product, create jobs and help develop the much talked about potential of a great country into reality.

One of the priority laws proposed to be amended was the Public Procurement Act. The law has now been amended to make it compulsory for all government ministries, department and agencies to patronise locally made goods and Nigerian suppliers except, where they are not available. It also reduced the number of days in the procurement process from the day the bid is advertised to the day the contract is awarded while it increased the amount payable as mobilisation fee.

The new Public Procurement Act is expected to aid the ‘Buy Made in Nigeria Goods’ campaign being promoted by Saraki and his colleagues in the Senate.

The inter-relationship of laws with reality and what happens in the homes of Nigerians, their market/work places and their relaxation centre is obvious.

The legislator in Room 4.01 is a policy wonk, a process man and one who is fixated with strategy. He believes that a task must have an objective. And that every step taken in the accomplishment of the task must be related to the overall objective. At every point, he asks: why are we doing this? Does it contribute to our goal and objective? What is our strategy for this assignment? If these questions are not answered, you may not get his buy-in.

As he says, we should not allow outsiders to dictate what our objective is and the strategy for achieving it.

Perhaps, it is his medical training that influenced this fixation with process and strategy. Or it could be his on-the-job training in the banking sector. He likes having a pattern to his plan in such a way that every step taken is traceable to achievement of the overall objective.

He says his goal as Senate President is to be remembered as one who enhanced the relevance of the institution to the point that the citizenry appreciates how the laws, advocacy and oversights embarked upon by the lawmakers make positive impact in their daily existence.

That is why he always canvasses that in media’s reporting of the bills and motion passed by the Eighth Senate, he will like the emphasis to be on which group of people will benefit and how will the

benefits positively affect their lives.

Another of the goals one can deduce from him is to see that the Senate is process-driven, transparent and ready to adopt the global best practices in its day to day operations. He is working to open the budget of the National Assembly to public scrutiny.

The Eighth Senate under him has activated the e-voting facility in the Senate and has commenced the process of e-parliament with order paper, notice paper, reports of committees and documents easily accessible online through the now very active Senate website. Senate plenaries and public hearings are now live-streamed on the Internet. Civil Society groups now participate in budget debates in the National Assembly.

A committee led by Senate Leader, Muhammed Ali Ndume, has submitted a report on how to radically reform the budget process. Some of their recommendations will help to make the passage of the 2017 budget easier. There are others that will take effect during the preparation and passage of the 2018 budget.

As Mohammed Al Maktoum, the United Arab Emirates leader calls him, Saraki is a General in the Development Army, who having won the confidence of his colleagues, often nudges them to achieve more results. The Senate under him is so fast in making decisive interventions that are helping to resolve serious, but budding national problems.

From the ASUU strike, the proposed policy to punish those who possess foreign exchange, the hike in telecom data price, the plan to raise electricity tariff, the forex policy preventing people from paying in money into their domiciliary accounts, the overcharging of Nigeria by the operator of the platform for collection of public funds into the TSA and the growing cases of mob killing, the Senate intervention, often decisively and timely, saved the day.

Many have wondered what is the man’s secret of staying in power even in the face of the distraction he has experienced as he moves to provide solid, remarkable and unforgettable leadership for the Senate.

The answer, perhaps, lies in his acceptance of the fact that in the Senate, unlike in his former position as governor, there is no chief executive.

What you have is a primus inter pares.

Also, he believes that if his colleagues see that he is fair to all and mean well, they will support him in achieving the noble goals. Saraki is also lucky to have as colleagues, Senators who realise that the strength of the institution is in members staying together and resisting any externally-induced division.

At 54, his work rate has continued to increase by the day. He is working so hard and reading so often that I always have the feeling that he is bent on setting such a high standard that whoever comes after him to occupy Room 4.01 will have no option than to sustain the standard. Any attempt to lower the standard or offer something below the present dynamic leadership will be too obvious and attract so much odium. The man is raising the bar.

He has made the work involved in leading the Senate to overshadow the glamour of the office. Whoever desires to occupy that office will think twice. It is never going to be a tea party from now on.

As he celebrates today with prayers from family, friends and supporters, who are already gathered in Ilorin and later have a session with fresh graduates of Kwara origin, who made first class in various disciplines, one can only wish the Turakin Ilorin and Commander of the Order of Niger, many happy returns.

- Olaniyonu is Special Adviser (Media and Publicity) to the Senate President

20

THURSDAY, DECEMBER 22, 2016 ˾ T H I S D AY

FEATURES

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

Poor Waste Disposal in Kuchigoro, Karmo On the occasion of the World Soil Day 2016 which underscored the importance of a healthy soil to the environment, Chineme Okafor writes on the dilemmas of two urban poor women in Abuja’s Kuchigoro and Karmo, where waste disposal practices maybe indirectly contributing to the destruction in their areas.

"

Sometime the pump runs and sometimes, it does not, so we fetch from the well.

The well is dirty, we see used polythene bags, used hair attachments, leaves, all kinds of things, sometimes shoes inside the well.

“Every time I finish having a bath, my skin starts to itch. Sometimes I scratch my skin so much that it starts to bleed,” said Tasallah Dikko, a mother and melon (egusi) trader in Abuja’s Karmo.

Speaking in Hausa Language which was promptly interpreted, Dikko explains her daily struggle to get and use a basic amenity like water; what Dikko does not say but is obvious is that lack of access to safe water forces urban poor people like her to dig wells as alternative source of water and ground water may not always be safe especially in the face of the realities of environmental pollution and bad waste management that clearly marks urban poor communities like Karmo She said: “We have never seen a truck collecting waste, they use wheelbarrow and we pay them. I pay N300, sometimes even N400 for them to collect the waste.”

According to her: “I always have waste to collect because of my egusi (melon) business, they will now take it to the big dumpsite but now the dumpsite is full and they always complain that the dumpsite is so full and there is no space for them to dump the waste.

“Sometimes during the rainy season we drop our waste into the gutters and sometimes when we do that, the water and waste will overflow and enter into people’s houses that are on the lower land, it even flows into their rooms.”

She clearly does not see the connection between the bad waste disposal practices she describes and the debris that she commonly finds in her well water and is even more never likely going to connect the impact the “big dumpsite” could possibly have on the structure and chemical composition of the soil which is very central to food production in her community THISDAY, working with a non-governmental organisation - the Media, Information and Narrative Development (MIND), frequently

Waste water from the gutters are part of the communities

A typical street in the communities

Unless practical and timely steps are taken, the hazards of poor waste disposal practices in Kuchigoro and Karmo may eventually become a common threat to urban poor residents who mostly rely on unconventional water supplies like ground water to survive; and are largely also reliant on the state of the soil to produce crops for food and sale

embed in far-flung communities of Abuja to highlight the challenges of urban poor residents.

It was in the spirit of an ongoing 55-day campaign by MIND to ‘step down poverty and step up human rights’ in Abuja’s poor communities that the reporter picked up Dikko’s story alongside that of Helen Emmanuel, a young mother and food stuff seller in Kuchigoro which is another poor urban community of Abuja to highlight how poor waste disposal practices affect soil conditions and inversely community health and environment.

While their stories tallied with the occasion of the World’s Soil Day 2016, in which the United Nations has called for a unified action to protect the soils of communities and improve environmental health, the reporter also recognised that their poor waste disposal habits could have contributed to the polluted water the communities rely on for their daily household tasks.

Though apart from each other in terms of their residences, Dikko and Emmanuel however share a common challenge, and had in speaking with the documentary team, perhaps

bared what could become a catastrophe to Abuja’s environment in years to come if left unattended to.

“Nobody ever comes here to collect dustbins.

There was a time when the environmental people gave us sacks to put our waste in, and said they would come and collect them, but they failed to come and collect them,” Emmanuel stated.

She however added: “If rain falls here, you cannot pass or do anything, even inside my room, water flows in there. Every dustbin gathers in front of our house including faeces.

If the rain falls, everything becomes smelly, you cannot stay here.”

Clearly, their stories equally buttressed that communities in developing countries with open dumpsites are living on polluted environments with its attendant danger often ignored by cities’ authorities.

Indeed, as highlighted by Dikko’s reported skin itches, the contamination of soil by heavy metal can really cause adverse effects on human health, animals and even soil productivity in terms of agricultural practices. Also, reports of declining outputs in farms and gardens are

replete and significantly linked to unhealthy waste disposals.

Unless practical and timely steps are taken, the hazards of poor waste disposal practices in Kuchigoro and Karmo may eventually become a common threat to urban poor residents who mostly rely on unconventional water supplies like ground water to survive; and are largely also reliant on the state of the soil to produce crops for food and sale.

In commemorating the 2016 edition of World Soil Day, the United Nation stated that its campaign for a healthy soil aims to connect people and communities with the potential their waste management choices have on it, as well as raise awareness on the critical importance of healthy soils on their lives.

Abuja in this regard should from the stories shared by Dikko and Emmanuel, make clearcut choices of exploring opportunities that would embrace sustainable environmental practices especially in its satellite towns to preserve the soils, guarantee clean ground water and contribute to a healthy environment and society.

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Ëž T H I S D AY THURSDAYË&#x153; Í°Í°Ë&#x153; Í°ÍŽÍŻÍ´

FEATURES

Anambra Dreams Big for Christmas The Anambra State government has declared what could be termed the mass return of most of its indigenes living in the Diaspora. The state government is not leaving any stone unturned in the quest to impress the returning indigenes, David-Chyddy Eleke writes

I

n few days, it will be Christmas. Anambra State governor, Chief Willie Obiano in a bid to give the indigenes of the state the very best this yuletide has swung to action. The governor had earlier promised the completion of all construction works in the state at the end of the rainy season, and it is only coincidental that rainy seasons stop at the close of the year, which also ushers in the yuletide.

With the end of the rains, Obiano has commenced work in about 20 major roads in the state. This is in fulfillment of his promise to indigenes of the state that his government would commence massive construction of roads at the end of the rainy season. Speaking at the flag off of the roads, Obiano said contractors have been mobilised back to sites to commence immediate works on the over 20 major roads in the state, in keeping with his promise. Some of the roads being constructed in the South senatorial zone include; Ekwulobia-Ezinifite Road, EziraUmuomaku-Umunofia-Achina Road; Igwe Oluoha Road, Ihiala; Ndiukwuenu-Ufuma-Awa Road; School of Health Services Road, Nnewi; Oyeutu-Aguata-Utu Road; Chisco Osumenyi Road; Coscharis Umudim-Nnewi Road and Enem Hall, Otolo-Nnewi Road. In the central senatorial zone, work is currently on-going on many roads which include Aroma-Secretariat road and Aroma-Judiciary road and Amansea axis of the Onitsha-Enugu expressway. In the north senatorial zone, the Nteje-Umunya road and Umunya-Awkuzu axis of the OnitshaEnugu expressway amongst others are currently undergoing rehabilitation.

The state Commissioner for Information and Communication Strategy, Ogbuefi Tony Nnacheta while announcing the commencement of construction work on the roads during a Town Hall meeting of ASATU held in Nnewi, appealed to communities in which these roads pass through to cooperate with the state government to ensure that the roads are well done for the benefit of those living in the areas. Nnachetta apologised for the inconvenience the current construction is causing commuters and motorists, adding that it was for the good of all.

THISDAY Correspondent who took a nocturnal stroll around Awka, Nnewi and Onitsha, reports that massive decoration and beautification works are also being done on the three major cities of the state.

In Awka, the three flyovers on the Enugu/ Onitsha expressway were being decorated with Christmas lights, while streetlights are being installed on all major roads in the town.

In Onitsha and Nnewi, the same is being experienced, while the hitherto rowdy and riotous Upper Iweka junction, which plays host to several motor parks in Onitsha has been cleared and made out into a park, with colourful Christmas light adorning the area, making it attractive at night, just as decorations are also being done on major roundabouts in the city. It was gathered that the idea behind the works is to ensure a serene environment in the coming yuletide, as indigenes of the state return home for the celebration.

During an interview with THISDAY, Anambraâ&#x20AC;&#x2122;s Deputy Governor, Dr. Nkem Okeke, said the Christmas celebration and the quest for a memorable Christmas for Ndi Anambra now dominate the State Executive Council meetings. â&#x20AC;&#x153;As you can see, work has commenced in several corners of the state, following the end of the rains. The State Executive Council meets on Mondays and what dominates the meeting lately is our preparation for Christmas. A lot of Anambra sons and daughters will be coming home from far and wide, and our primary concern is to make sure that the state is conducive for their stay. So in the area of infrastructure

Aesthetic ďŹ&#x201A;yover at Aroma Junction, Awka

Streelights and decorrated Kwata ďŹ&#x201A;yover

and security, we are working hard. I hope that when the people come and see all that the governor has been able to put in place, they will see reason why he should go for a second term in office,â&#x20AC;? Okeke said.

Okeke lamented the paucity of funds in the state, saying that most of the roads being rehabilitated by the state government were federal roads. He said the state decided to work on them because the citizens of the state were the ones feeling the impact of the bad nature of such roads, but it hopes to apply for reimbursement once work is completed on them. The deputy governor also stated that talks are still ongoing between the state and federal government for the repayment of N43 billion spent by the state government on federal projects in Anambra.

Okeke said Anambra State government is still hoping that the federal government would make haste to pay the money. According to the deputy governor, with a whooping sum as N43 billion, which the state had spent on federal roads in the state, the governor, who has adopted the slogan, â&#x20AC;&#x2DC;doing more with lessâ&#x20AC;&#x2122; will be able to move in and add more construction works to what it is currently doing in the state, and if deployed for execution of projects will go a long way in transforming the state.

Meanwhile, THISDAY gathered that with the approach of the 2017 governorship election which will come around November of next year, Anambra State governor, Obiano,

plans to impress the people of the state with infrastructure and security to be able to win re-election then. Already, Obiano is being rated highly in these areas, and hopes to sustain them to impress the people of the state. In infrastructure, the governor is steadily building roads, and also putting streetlights in all major roads in the state.

In the area of security, Obiano has besides â&#x20AC;&#x2DC;Operation Kpochapuâ&#x20AC;&#x2122;, which is an Igbo word for clean up; a joint security operation which he launched at the beginning of his administration to fight criminal elements also launched operation Udoka Nma, which in English means; peace is the best. This security operation which was launched in Obosi, one of the towns notorious for violent elements he explained will work to ensure a safe yuletide for residents of Anambra and returning citizens of the state throughout the period.

Already, arrangements are in top gear in Anambra State among its residents for the Christmas, with monarchs of most towns and communities preparing for their Ofala festivals. The Ofala festivals are usually in most communities held at the close of the year, when members of the community from far and near return home to pay homage to their kings, and usually, it marks an anniversary of the coronation of the celebrating monarch.

THISDAY was in major parks in Onitsha and Awka to sample opinions on the level of preparedness of the transport company managers. At Ekene Dili Chukwu Transports,

a luxury bus driver, Mr. Innocent Ogo told our correspondent that not much is being done in Onitsha office, even with the approach of the season. He said it is like that because the transport season does not commence for them at Onitsha until after the Christmas and New Year celebration, when returnees will be moving back to their base. â&#x20AC;&#x153;For now, we are preparing, but the season will be one sided because it is only from Lagos to Onitsha that the season will be holding, then by January, we will commence the return season.â&#x20AC;?

At ANIDS Park in Awka, a vehicle attendant said, â&#x20AC;&#x153;For now, the fare from Awka to Lagos is still N3,000 for the normal bus, and N4,000 for the air conditioned one. Here, our own season will not commence until after the New Year, when people will be coming back to their base. By that time, I think the fare may even rise to N8,000 or even N10,000 depending on the availability of fuel and also the kind of bus one is using.

On the whole, both from individuals, business men, civil servants and the government, Christmas is already in the air with every passing day in the month of December, and the state government is marking it in a special way with carnivals, which has already started with the Anambra Jubilee fair, a trade fair to support Anambrarians with shopping at a low price, and the forthcoming carnival to mark the closure of the six month celebration of the 25th anniversary of the creation of Anambra State.

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IMAGES

L-R: General Manager, Alpha Mead Security Systems and Technologies (AMST), Mr. Frank Ero; Regional Business Manager - Lagos 2, Alpha Mead Facilities (AMF,) Mr. Kingsley Chijioke; Chairman, Nigerian Institute of Architects, Lagos Chapter, Arc. Fitzgerald Umah; General Manager, Business Development,AMF, Mr Dele Ajisebutu; and Contracts and Procurement, Head, AMF, Mr. Muyiwa Abiola during the presentation of International Facility Management AssociationĂ­s 2016 award of Distinguished Facility Management Practitioner to Alfa Mead Facilities in Lagos...recently

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Photo Editor Ă&#x152;Ă&#x201C;Ă&#x2122;Ă&#x17D;Ă&#x;Ă&#x2DC; Ă&#x201D;Ă&#x2039;Ă&#x2013;Ă&#x2039; Email Ă&#x2039;Ă&#x152;Ă&#x201C;Ă&#x2122;Ă&#x17D;Ă&#x;Ă&#x2DC;Ë&#x203A;Ă&#x2039;Ă&#x201D;Ă&#x2039;Ă&#x2013;Ă&#x2039;ĚśĂ&#x17E;Ă&#x2019;Ă&#x201C;Ă?Ă&#x17D;Ă&#x2039;ĂŁĂ&#x2013;Ă&#x201C;Ă Ă?Ë&#x203A;Ă?Ă&#x2122;Ă&#x2014;

L-R:, Chairman, Golden Hearts, Touching Lives Initiative; Mrs Angela Emuwa; Drama Therapist, Children Development Centre (CDC), Mrs Kate Kearnes; Director, CDC; Dr Yinka Akindayomi and Executive Director, Startrite Mayton & Co, Mrs Delphine Misan-Arenyeka, at the Parents Summit by CDC in Lagos,...recently

L-R; MARKETING EDGE oďŹ&#x192;cials, Senior Manager, Marketing, Miss. Ogechi Odigbo; Chief Operating OďŹ&#x192;cer; Mr. Amos Oladele; Representative of St. MonicaĂ­s Orphanage Home Iju, Ogun State, Rev. Sister Christianah Onah; General Manager, Marketing, Mr. Anietie Udoh; Computer Analyst, Mrs. Oluwaseyi Olaniba; Senior Correspondent, Mr. Daniel Eteghe; and Marketing Manager, Mrs. Jumoke Omene during the presentation of Christmas gifts to the children of the Orphanage Home in L-R;Nigerian musician, Dammy Krane , Beat 99.9FM Programmes Director, Olisa Adibua, and members of the Western Music group, Akell Charles; and Louis Rei, during the media parley ahead of the Beat FM Christmas concert 2016 in Lagos....recently SUNDAY ADIGUN

L-R: 3rd place winner, Osuji Dominic Ogom; Winner, Mmerem Jessica; and 1st runner-up, Chukwudi Michael in the dancing competition during the Glo Campus Storm at Imo State University, Owerri....recently

L-R:, Vice Chairman, Nigeria Union of Journalist[NUJ] Lagos state Chapter, Mr. Jimoh Babatunde; Chairman NUJ, Mr. Deji Elumoye; Director-Generall, Nigerian Maritime Administration and Safety Agency[NIMASA], Dr. Dakuku Peterside, and Executive Director, NIMASA, Engr. Oluwarotimi Fashakin, during the visit of NUJ Lagos state Chapter to NIMASA Headquarter, Apapa, Lagos....recently

L-R: Team Leader/Chief Executive OďŹ&#x192;cer, The Most Valuable GovernorĂ­s Wife Awards (MVGWA), Mr. Tom Obulu; Chairperson, MVGWA ceremony organizing team, Dr. Bilikisu Magoro and member MVGWA, Mrs. Pauline Kadiya-Daze during the press conference on the 3rd edition of the award to the most valuable governorĂ­s wife in Abuja....recently ENOCK REUBEN

L-R: Minister of Information & Cultur,Alhaji Lai Mohammed; Minister of Labour and Employment, Chief Chris Ngige; Minister of State for Budget and National Planning, Hajia Zainab Ahmed, and Minister of Youth and Sports, Solomon Dalong, during the Town Hall meeting for Youth, organized by Ministry of Information, at the State House Abuja....recently ABAYOMI ADESHIDA

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L-R : Director, Union Capital Markets, Egie Akpata; Company Secretary, Wema Bank Plc, Oluwole Ajimisinmi; MD/CEO, FMDQ, Bola Onadele Koko; GMD/CEO, Greenwich Trust, Kayode Falowo; at the recent FMDQ listing of the Wema Funding SPV Plc 7 year bond in Lagos, which had Union Capital Markets as Lead Issuing House and Joint Registration Member (Listings)...recently

â&#x20AC;&#x2DC;GSM Technology for Voice Communication Will Become Obsolete Soonâ&#x20AC;&#x2122; Stories by Emma Okonji In spite of its technical capacity to deepen voice communication in Nigeria and other regions of the world, the Global System for Mobile Communication (GSM) technology that is driving voice communication, would soon become obsolete and unsustainable, given current technology trend that is fast shifting from voice to data communication, a technology expert has predicted.

The Chief Executive Officer, IPI Solutions Nig. Ltd, Mr. Adamu Garba II, who made the remark during an

ICT interview with THISDAY, said that â&#x20AC;&#x153;technology is evolving and the current evolution from voice communication to data communication, will definitely make the GSM technology that is driving voice communication to become obsolete and unsustainable, such that making voice calls through the traditional SIM card connectivity will no longer be relevant in the face of Over the Top Technology (OTT), which service providers could use to provide voice calls free of charge, using various platforms like skype, WhatsApp,

Viber, among others.â&#x20AC;?

Garba II therefore advised telecoms operators that provide voice services using the GSM technology, to diversify their investments in data communication in order to remain competitive in the telecoms business. According to him, tools like skype, WhatsApp, Viber, among others, would become the primary mode of interaction and communication for all mobile phone users within the shortest possible time, maybe within the next two to three years.

Advising telecoms operators on the next line of technology

to invest in, Garbar II said although there is a global shift from voice to data communication, but there will never be a shift that will ever eliminate voice communication. Instead, the shift will cause GSM technology to go into extinct and unsustainable, he said, adding that telecoms providers will have to invest heavily in the provision of data services and other value added services because GSM technology, which they currently sell will soon become unsustainable. â&#x20AC;&#x153;People have reached the Continued on page 24

Subscribers Call for More Rollout of 4G Services at Yuletide Telecoms subscribers under the aegis of National Association of Telecoms Subscribers (NATCOMS), have called on telecoms operators to expedite action in rolling out more 4G LTE services across the country, to enable subscribers enjoy smooth and uninterrupted telecoms services with high speed connectivity this Yuletide.

President of NATCOMS, Chief Deolu Ogunbanjo who made the call in Lagos recently, said it became necessary to enable the over 170 million subscribers across networks, to experience uninterrupted calls at Yuletide. According to him, â&#x20AC;&#x153;Yuletide is a season where subscribers send affectionate messages to their loved ones, and from past experiences, it is a season of increased volume of telecoms activities, which

TELECOMS often put additional pressure on the networks.â&#x20AC;?

In order to avoid network congestion, which could lead to poor telecoms service delivery, operators should rollout more 4G LTE services, which comes with high speed connectivity and distinct voice clarity, â&#x20AC;&#x153;Ogunbanjo said.

If this is achieved, then subscribers will be able to communicate seamlessly at Yuletide, he added.

Speaking further, Ogunbanjo said since the inception of Global System for Mobile Communication (GSM) in 2001, there had always been increased volume of calls and text messages during Yuletide season, a situation, he said, had always caused congestions on networks. He

therefore advised that additional rollout of 4G LTE services would be able to address the issue of congestion, since 4G LTE is characterised by high speed connectivity with voice clarity that could be sustained over a long period of call. Although Ogunbanjo said there had been slight improvement in service quality since 2015, he however insisted that additional rollout of 4G LTE services will go a long way in maintaining stable and steady communications across networks at Yuletide.

Reacting to the recent suspension of price floor for data communication by the Nigerian Communications Commission (NCC), which seeks to hike data tariff across networks, Ogunbanjo, who hailed the suspension plan, warned against anything that could

lead to increase in the cost of telecommunications services in the country. Ogunbanjo who was reacting to the recent submission by telecoms operators that increase in telecommunications tariff would boost service quality, since they are already running at a loss with the present tariff rate, insisted that operators must first prove that they could maintain steady and better service quality, before thinking of increasing tariff. He maintained that 4G LTE services would be the best option for providing better service quality, just as he urged operators to speed up action in the rollout of 4G LTE services for the good of subscribers.

With the global trend in telecommunications service offering Continued on page 24

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Toyota Targets 10.2m Sales in 2017 Ă&#x2122;Ă&#x153; Ă&#x17E;Ă&#x2019;Ă? ĂŁĂ?Ă&#x2039;Ă&#x153; Í°ÍŽÍŻÍľË&#x153; Ă&#x2122;ĂŁĂ&#x2122;Ă&#x17E;Ă&#x2039; Ă&#x2039;Ă&#x2DC;Ă&#x17E;Ă&#x201C;Ă?Ă&#x201C;Ă&#x161;Ă&#x2039;Ă&#x17E;Ă?Ă? Ă&#x2039; Ă&#x2122;Ă&#x2DC;Ă? Ă&#x161;Ă?Ă&#x153; Ă?Ă?Ă&#x2DC;Ă&#x17E; Ă&#x153;Ă&#x201C;Ă?Ă? Ă&#x201C;Ă&#x2DC; Ă&#x2018;Ă&#x2013;Ă&#x2122;Ă&#x152;Ă&#x2039;Ă&#x2013; Ă Ă?Ă&#x2019;Ă&#x201C;Ă?Ă&#x2013;Ă? Ă?Ă&#x2039;Ă&#x2013;Ă?Ă? Ă&#x2039;Ă? Ă&#x2018;Ă&#x153;Ă&#x2122;ĂĄĂ&#x17E;Ă&#x2019; Ă&#x201C;Ă&#x2DC; Ă&#x2122;Ă&#x153;Ă&#x17E;Ă&#x2019; Ă&#x2014;Ă?Ă&#x153;Ă&#x201C;Ă?Ă&#x2039;Ë&#x153; Ă&#x;Ă&#x153;Ă&#x2122;Ă&#x161;Ă? Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă?Ă&#x201C;Ă&#x2039; Ă?Ă&#x;Ă?Ă&#x2013; Ă&#x2039; Ă&#x153;Ă?Ă?Ă&#x2122;Ă Ă?Ă&#x153;ĂŁ Ă?Ă&#x153;Ă&#x2122;Ă&#x2014; Ă&#x2039; Ă&#x2122;Ă&#x2DC;Ă? Ă&#x161;Ă?Ă&#x153; Ă?Ă?Ă&#x2DC;Ă&#x17E; Ă?Ă&#x2013;Ă&#x201C;Ă&#x17D;Ă? Ă&#x201C;Ă&#x2DC; Ă?Ă&#x2039;Ă&#x2013;Ă?Ă? Ă&#x17E;Ă&#x2019;Ă&#x201C;Ă? ĂŁĂ?Ă&#x2039;Ă&#x153;Ë&#x203A; Ă&#x2019;Ă? Ă&#x2039;Ă&#x;Ă&#x17E;Ă&#x2122;Ă&#x2014;Ă&#x2039;Ă&#x2022;Ă?Ă&#x153; Ă?Ă?Ă&#x17E;Ă&#x201C;Ă&#x2014;Ă&#x2039;Ă&#x17E;Ă?Ă? Ă?Ă&#x2039;Ă&#x2013;Ă?Ă? Ă&#x2039;Ă?Ă&#x153;Ă&#x2122;Ă?Ă? Ă&#x201C;Ă&#x17E;Ă? Ă&#x2122;ĂŁĂ&#x2122;Ă&#x17E;Ă&#x2039;Ë&#x153; Ă?âĂ&#x;Ă?Ë&#x153; Ă&#x2039;Ă&#x201C;Ă&#x2019;Ă&#x2039;Ă&#x17E;Ă?Ă&#x; Ă&#x2014;Ă&#x201C;Ă&#x2DC;Ă&#x201C;Ă?Ă&#x2039;Ă&#x153; Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă&#x201C;Ă&#x2DC;Ă&#x2122; Ă&#x2122;Ă&#x17E;Ă&#x2122;Ă&#x153;Ă? Ă&#x17E;Ă&#x153;Ă&#x;Ă?Ă&#x2022; Ă&#x152;Ă&#x153;Ă&#x2039;Ă&#x2DC;Ă&#x17D;Ă? Ă&#x17E;Ă&#x2122; Ă&#x201C;Ă&#x2DC;Ă?Ă&#x153;Ă?Ă&#x2039;Ă?Ă? Ă&#x17E;Ă&#x2122; Ă&#x2039;Ă&#x153;Ă&#x2122;Ă&#x;Ă&#x2DC;Ă&#x17D; ÍŻÍŽË&#x203A;Í° Ă&#x2014;Ă&#x201C;Ă&#x2013;Ă&#x2013;Ă&#x201C;Ă&#x2122;Ă&#x2DC; Ă Ă?Ă&#x2019;Ă&#x201C;Ă?Ă&#x2013;Ă?Ă? Ă&#x201C;Ă&#x2DC; Í°ÍŽÍŻÍľË&#x203A; Ă&#x17E; Ă?âĂ&#x161;Ă?Ă?Ă&#x17E;Ă? Ă&#x17E;Ă&#x2122; Ă?Ă&#x2DC;Ă&#x17D; Í°ÍŽÍŻÍ´ ĂĄĂ&#x201C;Ă&#x17E;Ă&#x2019; Ă?Ă&#x2039;Ă&#x2013;Ă?Ă? Ă&#x2122;Ă? ÍŻÍŽË&#x203A;͎͡ Ă&#x2014;Ă&#x201C;Ă&#x2013;Ă&#x2013;Ă&#x201C;Ă&#x2122;Ă&#x2DC; Ă Ă?Ă&#x2019;Ă&#x201C;Ă?Ă&#x2013;Ă?Ă?Ë&#x153; Ă?Ă&#x2013;Ă&#x201C;Ă&#x2018;Ă&#x2019;Ă&#x17E;Ă&#x2013;ĂŁ Ă&#x2013;Ă&#x2122;ĂĄĂ?Ă&#x153; Ă&#x17E;Ă&#x2019;Ă&#x2039;Ă&#x2DC; Ă&#x2039;Ă&#x2DC; Ă&#x201C;Ă&#x2DC;Ă&#x201C;Ă&#x17E;Ă&#x201C;Ă&#x2039;Ă&#x2013; Ă?Ă&#x2122;Ă&#x153;Ă?Ă?Ă&#x2039;Ă?Ă&#x17E; Ă&#x2122;Ă? ÍŻÍŽË&#x203A;ÍŻÍŻ Ă&#x2014;Ă&#x201C;Ă&#x2013;Ă&#x2013;Ă&#x201C;Ă&#x2122;Ă&#x2DC;Ë&#x203A; Ă&#x2122;ĂŁĂ&#x2122;Ă&#x17E;Ă&#x2039; Ă?âĂ&#x161;Ă?Ă?Ă&#x17E;Ă? Ă?Ă&#x2039;Ă&#x2013;Ă?Ă? Ă&#x17E;Ă&#x2122; Ă&#x201C;Ă&#x2DC;Ă?Ă&#x153;Ă?Ă&#x2039;Ă?Ă? Ă&#x201C;Ă&#x2DC; Ă&#x201C;Ă&#x17E;Ă? Ă&#x2014;Ă&#x2039;Ă&#x201C;Ă&#x2DC; Ă&#x2014;Ă&#x2039;Ă&#x153;Ă&#x2022;Ă?Ă&#x17E;Ă? Ă&#x2DC;Ă?âĂ&#x17E; ĂŁĂ?Ă&#x2039;Ă&#x153; Ă&#x17D;Ă&#x;Ă? Ă&#x201C;Ă&#x2DC; Ă&#x161;Ă&#x2039;Ă&#x153;Ă&#x17E; Ă&#x17E;Ă&#x2122; Ă&#x2DC;Ă?ĂĄ Ă&#x2039;Ă&#x17D;Ă&#x17D;Ă&#x201C;Ă&#x17E;Ă&#x201C;Ă&#x2122;Ă&#x2DC;Ă? Ă&#x17E;Ă&#x2122; Ă&#x201C;Ă&#x17E;Ă? Ă&#x2014;Ă&#x2122;Ă&#x17D;Ă?Ă&#x2013; Ă&#x2013;Ă&#x201C;Ă&#x2DC;Ă?Ă&#x;Ă&#x161;Ë&#x153; Ă&#x201C;Ă&#x2DC;Ă?Ă&#x2013;Ă&#x;Ă&#x17D;Ă&#x201C;Ă&#x2DC;Ă&#x2018; Ă&#x17E;Ă&#x2019;Ă? Ě&#x2039; Ă?Ă&#x2122;Ă&#x2014;Ă&#x161;Ă&#x2039;Ă?Ă&#x17E; Ă&#x2013;Ă&#x2039;Ă&#x;Ă&#x2DC;Ă?Ă&#x2019;Ă?Ă&#x17D; Ă&#x201C;Ă&#x2DC; Ă&#x2039;Ă&#x161;Ă&#x2039;Ă&#x2DC; Ă&#x17E;Ă&#x2019;Ă&#x201C;Ă? ĂĄĂ?Ă?Ă&#x2022;Ë&#x203A; Ă&#x2019;Ă&#x201C;Ă? ĂĄĂ&#x2122;Ă&#x;Ă&#x2013;Ă&#x17D; Ă&#x2122;ĘĽĂ?Ă?Ă&#x17E; Ă?Ă&#x2013;Ă&#x;Ă&#x2018;Ă&#x2018;Ă&#x201C;Ă?Ă&#x2019; Ă&#x17D;Ă?Ă&#x2014;Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă&#x201C;Ă&#x2DC; Ă&#x17E;Ă&#x2019;Ă? Ă&#x201C;Ă&#x17D;Ă&#x17D;Ă&#x2013;Ă? Ă&#x2039;Ă?Ă&#x17E;Ë&#x153; ĂĄĂ&#x2019;Ă?Ă&#x153;Ă? Ă&#x2013;Ă&#x2122;ĂĄ Ă&#x2122;Ă&#x201C;Ă&#x2013; Ă&#x161;Ă&#x153;Ă&#x201C;Ă?Ă?Ă? Ă&#x2019;Ă&#x2039;Ă Ă? Ă&#x152;Ă&#x2039;ĘľĂ?Ă&#x153;Ă?Ă&#x17D; Ă&#x17E;Ă&#x2019;Ă? Ă&#x153;Ă?Ă&#x2018;Ă&#x201C;Ă&#x2122;Ă&#x2DC;ËŞĂ? Ă?Ă?Ă&#x2122;Ă&#x2DC;Ă&#x2122;Ă&#x2014;Ă&#x201C;Ă?Ă?Ë&#x153; Ă&#x17E;Ă&#x2019;Ă? Ă&#x2039;Ă&#x;Ă&#x17E;Ă&#x2122;Ă&#x2014;Ă&#x2039;Ă&#x2022;Ă?Ă&#x153; Ă?Ă&#x2039;Ă&#x201C;Ă&#x17D;Ë&#x203A;

Ă&#x17E; Ă&#x2039;Ă&#x201C;Ă&#x2014;Ă? Ă&#x17E;Ă&#x2122; Ă&#x152;Ă&#x2122;Ă&#x2122;Ă?Ă&#x17E; Ă&#x161;Ă&#x153;Ă&#x2122;Ă&#x17D;Ă&#x;Ă?Ă&#x17E;Ă&#x201C;Ă&#x2122;Ă&#x2DC; Ă&#x2039;Ă&#x17E; Ă&#x17E;Ă&#x2019;Ă? Ă&#x2018;Ă&#x153;Ă&#x2122;Ă&#x;Ă&#x161; Ă&#x152;ĂŁ Ă&#x2122;Ă&#x2DC;Ă? Ă&#x161;Ă?Ă&#x153; Ă?Ă?Ă&#x2DC;Ă&#x17E; Ă&#x17E;Ă&#x2122; ÍŻÍŽË&#x203A;͹ʹ Ă&#x2014;Ă&#x201C;Ă&#x2013;Ă&#x2013;Ă&#x201C;Ă&#x2122;Ă&#x2DC; Ă Ă?Ă&#x2019;Ă&#x201C;Ă?Ă&#x2013;Ă?Ă? Ă&#x201C;Ă&#x2DC; Í°ÍŽÍŻÍľË&#x203A; Ă&#x2019;Ă? Ă&#x201C;Ă&#x2014;Ă&#x161;Ă&#x153;Ă&#x2122;Ă Ă?Ă&#x2014;Ă?Ă&#x2DC;Ă&#x17E; Ă&#x201C;Ă&#x2DC; Ă&#x2018;Ă&#x2013;Ă&#x2122;Ă&#x152;Ă&#x2039;Ă&#x2013; Ă?Ă&#x2039;Ă&#x2013;Ă?Ă? ĂĄĂ&#x2122;Ă&#x;Ă&#x2013;Ă&#x17D; Ă?Ă&#x2122;Ă&#x2013;Ă&#x2013;Ă&#x2122;ĂĄ Ă&#x2039; ÍŻ Ă&#x161;Ă?Ă&#x153; Ă?Ă?Ă&#x2DC;Ă&#x17E; ĂŁĂ?Ă&#x2039;Ă&#x153;Ě&#x2039;Ă&#x2122;Ă&#x2DC;Ě&#x2039; ĂŁĂ?Ă&#x2039;Ă&#x153; Ă?Ă&#x2013;Ă&#x201C;Ă&#x17D;Ă? Ă&#x17E;Ă&#x2019;Ă&#x201C;Ă? ĂŁĂ?Ă&#x2039;Ă&#x153;Ë&#x153; Ă&#x2013;Ă&#x2039;Ă&#x153;Ă&#x2018;Ă?Ă&#x2013;ĂŁ Ă&#x17D;Ă&#x;Ă? Ă&#x17E;Ă&#x2122; Ă?Ă&#x2013;Ă&#x;Ă&#x2018;Ă&#x2018;Ă&#x201C;Ă?Ă&#x2019;Ă&#x2DC;Ă?Ă?Ă? Ă&#x201C;Ă&#x2DC; Ă?Ă&#x2122;Ă&#x2014;Ă? Ă&#x2122;Ă&#x;Ă&#x17E;Ă&#x2019;Ă?Ă&#x2039;Ă?Ă&#x17E; Ă?Ă&#x201C;Ă&#x2039;Ă&#x2DC; Ă&#x2014;Ă&#x2039;Ă&#x153;Ă&#x2022;Ă?Ă&#x17E;Ă?Ë&#x203A; Ă&#x2122;ĂŁĂ&#x2122;Ă&#x17E;Ă&#x2039; ĂĄĂ&#x2039;Ă? Ă&#x17E;Ă&#x2019;Ă? ĂĄĂ&#x2122;Ă&#x153;Ă&#x2013;Ă&#x17D;ËŞĂ? Ă&#x17E;Ă&#x2122;Ă&#x161;Ě&#x2039;Ă?Ă?Ă&#x2013;Ă&#x2013;Ă&#x201C;Ă&#x2DC;Ă&#x2018; Ă&#x2039;Ă&#x;Ă&#x17E;Ă&#x2122;Ă&#x2014;Ă&#x2039;Ă&#x2022;Ă?Ă&#x153; Ă&#x201C;Ă&#x2DC; Í°ÍŽÍŻÍłË&#x153; Ă&#x2022;Ă?Ă?Ă&#x161;Ă&#x201C;Ă&#x2DC;Ă&#x2018; Ă&#x17E;Ă&#x2019;Ă? Ă&#x17E;Ă&#x201C;Ă&#x17E;Ă&#x2013;Ă? Ă?Ă&#x2122;Ă&#x153; Ă&#x17E;Ă&#x2019;Ă? Ă?Ă&#x2122;Ă&#x;Ă&#x153;Ă&#x17E;Ă&#x2019; Ă?Ă&#x17E;Ă&#x153;Ă&#x2039;Ă&#x201C;Ă&#x2018;Ă&#x2019;Ă&#x17E; ĂŁĂ?Ă&#x2039;Ă&#x153;Ë&#x203A;

â&#x20AC;&#x153;There are a number of risks associated with physical documentation, which include information loss arising from ďŹ re outbreak, ďŹ&#x201A;ood disaster, wear and tear of documents and information theftâ&#x20AC;?

CEO, Secured Records Management Solutions, Dr. Sam Nwosu

24

T H I S D AY Ëž Ë&#x153; Í°Í°Ë&#x153; Í°ÍŽÍŻÍ´

â&#x20AC;&#x2DC;GSM TECHNOLOGY FOR VOICE COMMUNICATION WILL BECOME OBSOLETE SOONâ&#x20AC;&#x2122; power of skype, WhatsApp, to make their voice calls as opposed to using traditional SIM lines. Our current SIM cards would just be a data link because skype, for instance, enables you to communicate in a more natural human language, with more flexibility and deep integration with your normal office worker productivity tools than the current GSM technology, and this comes free of charge,â&#x20AC;? he said.

He further explained that the evolving platforms that would eliminate GSM technology using voice calls, would also give subscribers the opportunity for high definition (HD) video capability, using simple data network on their mobile phone, especially with the current movement to fourth generation (4G) networks.

Worried about the disruption that OTT technology is bringing to the telecoms industry, where new service providers are taking advantage of OTT technology to provide free services for voice communication through platforms like Skype and WhatsApp, telecoms operators have cried out to the telecoms industry regulator, the Nigerian Communications Commission (NCC), to make haste to regulate the OTT technology, which they alleged, is fast cutting down on their revenue streams, since they spent huge sums of money in paying for the GSM spectrum licences and for the building and expansion of their GSM networks.

Expert Raises the Alarm over Low Dentist Patronage in Nigeria Stories by Emma Okonji Unlike general routine health checkup, which still attracts patronage in Nigerian hospitals, the dentist profession, which is a specialised form of medicine, lacks the same level of patronage in Nigeria because Nigerians do not see the need to visit a dentist for routine checkup of their mouth organs, in respect to their teeth and gum.

Managing Dentist, Choice Dental, Dr. Sade Akiode, who raised the alarm, during an open day programme organised by Choice Dental to celebrate its friends and patients in Lagos, told THISDAY that lack of awareness on the part of Nigerians, remained the major cause of low dentist partronage in the country.

The lack of awareness syndrome, she said, was noticed four years ago when Choice Dental opened its dental clinic in Lagos, and that since then, she has been trying to raise the awareness level among Nigerians on the need to visit a dentist as least twice in a year. â&#x20AC;&#x153;Most Nigerians do not visit the dentist, and we need to educate them more on the importance of a dentist in their family lives. The level of education about dentistry in Nigeria is still low because most people do not go to a dentist and they often show some pride about it, which for me, is an act of ignorance,â&#x20AC;?

Akiode said.

According to her, a lot of dental diseases are preventable if people visit their Dentists regularly, but frowned to a situation where dental ail-

ments have claimed the lives of Nigerians because they allowed it to degenerate into unmanageable situation. â&#x20AC;&#x153;There is need for people to imbibe the culture of preventive dentistry, which is all about visiting the dentist regularly for routine checks and in the process, a lot of money is saved that could have been spent of dental diseases,â&#x20AC;? Akiode said, adding that the mouth is the gateway to the body and that whatever affects the mouth, affects the entire body system.

She said a lot of systemic diseases like heart disease, cancer, erectable dysfunction, speech defects and several ailments in human beings, have been linked to teeth and gum diseases.

While also blaming the low patronage on the inability of Dentists to carryout campaign that will enlighten Nigerians on the importance of taking good care of their teeth and gum, Akiode however explained that Dentists were not creating enough awareness about the

profession because the profession limits them from carrying out certain advertisement about their jobs. â&#x20AC;&#x153;The professional body always insists that the work of a Dentist should speak for itself,â&#x20AC;? Akiode said.

She said the challenge before Dentists is a combination of government and the professional body, including the culture of Nigerians who do not believe they should visit a Dentist regularly.

She however advised Nigerians not to gamble with

GLOBAL HONOUR FOR SIGNAL ALLIANCE

L-R: Cisco Chief Operating OďŹ&#x192;cer, EMEAR, John Donovan; Cisco Africa Senior Virtual Sales Manager, Yasmin Kirton; Signal Alliance Nigeria CEO, Adanma Onuegbu; Cisco Africa Partner and Commercial Lead, Tunji Akintokun, and Cisco EMEAR VP Partner Organisation, Tunji Akintokun, at the award presentation to Signal Alliance in Seychelles..recently

SUBSCRIBERS CALL FOR MORE ROLLOUT OF 4G SERVICES AT YULETIDE

Ekeh Lauds Stanbic IBTC Bank over Launch of Digital Branch

that is fast tilting from voice to data communication, telecom operators in the country, have in recent times, embarked on 4G LTE rollout. Globacom, MTN, Etisalat, among other telecoms operators, have rolled out their 4G LTE services in quick succession but the actual speed of connectivity of the services has not been felt by subscribers, who are eager to migrate their SIM cards from 3G technology to 4G LTE technology.

The Chairman, Zinox Group, Leo Stan Ekeh has commended Stanbic IBTC Bank, for the formal launched of its pioneer digital branch located strategically in the Maryland Mall along Ikorodu Road, Lagos, describing it as a remarkable feat that will reposition the bank for better service delivery to its customers.

The digital branch will offer customers a wide range of technologically-driven and seamless self-service channels including instant deposits, personal teller machine, airtime top-ups, interactive access to the bankâ&#x20AC;&#x2122;s suite of products and services and an integrated app, through which customers can access the groupâ&#x20AC;&#x2122;s various solutions such as Personal Banking, Pension Fund and Asset Management, among others.

Ekeh who featured as the special guest of honour, disclosed that the launch of the digital branch was timely and in line with the rapidly evolving revolution in the digital space.

In his opinion, Stanbic IBTC Bank has with this singular achievement effectively positioned itself as a bank of choice for the current generation of digitally-minded and tech-savvy youths, many of whom are constantly in search of more innovative ways to carry out their daily activities. â&#x20AC;&#x153;I must commend the

Group Business Editor

Ă&#x2019;Ă&#x201C;Ă&#x2022;Ă&#x2039; Ă&#x2014;Ă&#x2039;Ă&#x2DC;äĂ?Ě&#x2039; ĂĄĂ&#x2039;Ă?Ă&#x2019;Ă&#x;Ă&#x2022;Ă&#x; AgriBusiness/Industry Editor

Ă&#x153;Ă&#x;Ă?Ă&#x2122;Ă? Ă?Ă&#x2039;Ă&#x2018;Ă&#x201C;Ă?

Comms/e-Business Editor

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Ă&#x2122;Ă&#x17D;Ă&#x17D;ĂŁ Ă&#x2018;Ă?Ă&#x2DC;Ă?

Senior Correspondent

Ă&#x2039;Ă&#x2019;Ă?Ă?Ă&#x2014; Ă&#x2022;Ă&#x201C;Ă&#x2DC;Ă&#x2018;Ă&#x152;Ă&#x2122;Ă&#x2013;Ă&#x; (Advertising) Correspondents

Ă&#x2019;Ă&#x201C;Ă&#x2DC;Ă?Ă&#x17D;Ă&#x; äĂ? (Aviation) Ă&#x201C;Ă&#x2DC;Ă&#x17D;Ă&#x2039; Ă&#x153;Ă&#x2122;Ă&#x2022;Ă? (Labour) Ă&#x153;Ă&#x2122;Ă&#x2014;Ă&#x2122;Ă?Ă?Ă&#x2013;Ă? Ă&#x152;Ă&#x201C;Ă&#x2122;Ă&#x17D;Ă&#x;Ă&#x2DC; (Cap Mkt) Ă&#x201D;Ă&#x201C;Ă&#x2122;Ă?Ă&#x2122;Ă&#x153; Ă&#x2013;Ă&#x201C;Ă&#x2022;Ă? (Energy) Ă&#x2039;Ă&#x2014;Ă?Ă? Ă&#x2014;Ă?Ă&#x201D;Ă&#x2122; (Nationâ&#x20AC;&#x2122;s Capital) Ă&#x152;Ă&#x201C;Ă&#x2DC;Ă&#x2DC;Ă&#x2039; Ă&#x2019;Ă&#x201C;Ă&#x2014;Ă&#x2039; (Money Mkt) Reporters

Ă&#x;Ă&#x2014;Ă? Ă&#x2022;Ă?Ă&#x2018;Ă&#x2019;Ă? (Money Market) Ă&#x2122;Ă?Ă&#x2039; Ă&#x2013;Ă?Ă&#x2022;Ă&#x2019;Ă&#x;Ă&#x2122;Ă&#x2018;Ă&#x201C;Ă? (Maritme)

teeth and gum diseases, which she said could claim lives. She also advised Nigerians not to look down on the importance of dentistry, just as she called on Nigerians who know the importance of regular visitation to a Dentist, not to feel that visiting a Dentist could be very expensive.

They must ensure that they visit the right Dentist and not quacks and also ensure that proper diagnosis is carried out on their mouth organs regularly, Akiode added.

management of Stanbic IBTC Bank for this revolutionary feat. In the 21st century, money shouts but wealth whispers.

This is a century of constant innovation and with the launch of this digital branch, you have taken a huge step towards meeting the yearnings and aspirations of the current generation of technologicallyminded customers,â&#x20AC;? Ekeh said. â&#x20AC;&#x153;Many years ago, I had sought to obtain a license from the Central Bank of Nigeria for card-less or virtual banking but this was not granted as the concept sounded strange at the time.

Today, we are witnessing a banking revolution as you do not need to have a debit card with you to make withdrawals here or a teller attending to you before you can make a cash deposit,â&#x20AC;? he added.

Also speaking at the event, Chief Executive Officer, Stanbic IBTC Bank, Yinka Sanni disclosed that the launch of the digital branch was in line with the need to stay one step ahead of the game by leveraging on the power of sophisticated technology to bring convenient banking to customers.

According to him, Stanbic IBTC has consistently maintained its focus as first rate provider of seamless and convenient personal and business banking solutions which enables its customers

move forward.

The event, which featured a tour of the various digital

self-service outlets in the branch, also witnessed detailed demonstrations, which gave

attendees a first-hand glimpse of the workings of the various terminals and channels.

Steering Committee Announced for West African Intâ&#x20AC;&#x2122;l Petroleum Exhibition and Conference The steering committee driving the programme for the West African International Petroleum Exhibition and Conference (WAIPEC) 2017 has officially been announced.

The committee comprises key senior business leaders and stakeholders from across Nigeriaâ&#x20AC;&#x2122;s oil and gas sector.

According to a statement, senior officials of the Nigerian National Petroleum Corporation (NNPC), Shell Nigeria Exploration and Production Company (SNEPCo), Total E & P, First Exploration & Petroleum (E&P) Development Company Limited and Seplat Petroleum Development Company are amongst representatives to build programme for WAIPEC 2017.

WAIPEC, hosted by the Petroleum Technology Association of Nigeria (PETAN) will take place on 21-23 February 2017 at the Eko Convention Centre, Lagos. The event will promote Nigerian expertise and key projects throughout West Africa, whilst supporting

the development of major new collaborations for the benefit of the regionâ&#x20AC;&#x2122;s petroleum economy.

According to the statement, the steering committee representatives will feature: the Managing Director, First E&P and Chairman, Nigerian Independent Oil Companies, Ademola Adeyemi- Bero; Chief Executive Officer, Seplat, Austin Avuru; PETAN Chairman, Bank Anthony Okoroafor; Managing Director, SNEPCo, Bayo Ojulari; Emeka Ene of PETAN; Vice Chairman, PETAN, Geoff Onuoha; Deputy Managing Director, Total E&P, Ahmadu-Kida Musa; Chairman, Conferences Committee, PETAN, Ranti Omole; Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), SimbiKesiye Wabote and Dr. Mazadu Bako of NNPC. WAIPEC is the only oil and gas event to be held fully in partnership with Nigeriaâ&#x20AC;&#x2122;s petroleum industry and the 10 committee members,

alongside PETAN will draw on their unrivalled global resources to ensure that the event delivers to the needs of all stakeholders in Nigeria and through the region.

The committee will guide the content of over 25 business, technical and special focus sessions, featuring more than 75 prominent industry speakers and representatives from both the regional and international oil and gas community. Running alongside the conference - an exhibition is projected to attract more than 200 exhibiting companies and 6,000 visiting professionals from West Africa, Europe, Americas and Asia.

Okoroafor said: â&#x20AC;&#x153;PETAN has put together an esteemed panel of representative from both public and private exploration, production and services companies â&#x20AC;&#x201C; their expertise together ensuring a programme that presents an invaluable insight for all stakeholders and participants in WAIPEC 2017.â&#x20AC;?

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T H I S D AY ˾ ˜ DECEMBER 22˜ Ͱͮͯʹ

BUSINESSWORLD

E-BUSINESS

How Technology Solutions Ruled ICT Industry in 2016 New technology innovations from tech startups, enhanced by internet connectivity through the Internet of Things, no doubt defined the ICT landscape in 2016, writes Emma Okonji Nigeria technology startups in the financial technology space, this year, rolled out a lot of great ideas that were developed into technology solutions for solving immediate challenges.

Paystack, for instance, one of Nigeria’s most anticipated tech startups, which is an online payment platform, developed by two young Nigerians, Shola Akinlade and Ezra Olubi, secured $1.3 million seed investment fund from both international and homegrown investors, according to Forbes.

The achievement is coming after Andela, another Nigerian startup company based in Lagos and New York, blazed the trail with a $24 million Series B funding round from the Chan Zuckerberg Initiative founded by Mark Zuckerberg and his wife, Priscilla Chan.

Paystack, however, initially caught the eyes of industry commentators as it was one the first Nigerian technology companies to be accepted into the world-famous Y Combinator progamme, based in Silicon Valley.

Since then, having taken Paystack through Private Beta, and securing $120,000 early-stage investment from Y Combinator, Akinlade, the CEO and Olubi, the CTO, have quietly been building the company, working to secure this seed investment round, whilst also building a network of partner merchants in Nigeria, over 1,500, who are now using the platform to accept online payments.

Outlook of ICT industry in 2016 According to the CEO of Paradigm Initiative of Nigeria (PIN), Mr. Gbenga Sesan, 2016 was a very interesting year for the ICT industry.

Though we saw a lot of new entrants/ideas and investments from technology startups, there was also the unpredictability of the sector. From the emergence of ‘fake news’, which is really the coming of age of a new generation of news consumers who determine what their own ‘truth’ and ‘fact’ is, to the policy summersaults within Nigeria, it was a busy year for the ICT industry even in Nigeria.

According to him, major highlights of the year that made the round in 2016, include slow progress on broadband by the regulator, surprising discussion around Over-The-Top (OTT) services regulation, reversal of removal of data floor price, high profile visit by Mark Zuckerberg to Nigeria, coming-of-age (of sorts) of tech ideas led by young people — as seen through increased investments — and continued lip service by government to the importance of diversification through the opportunity that ICTs provide.

Major achievements Addressing issues about the biggest investments and achievements in the ICT industry in 2016, Sesan said the biggest achievement is the coming of tech start-ups led by young people. While policy summersault and lipservice continues from government, smart young women and men built products and services that solve local problems, have regional relevance and attracted global support. If there’s a lesson for Nigeria in this 2016 recession, which will continue for a few more quarters if we don’t course-correct, it is that value addition that can come from one of the most neglected demographic and sector. Even in the government projections to generate three million jobs over the next three years, ICT doesn’t have a huge bet.

And this confirms that there’s a huge gap between policy expectations and reality of the opportunity that tech start-ups, that are meeting local needs while attracting global resource, offer.

Drawbacks Some of the major drawbacks in the ICT industry, according to stakeholders, could be seen in the area of policy lags, innovation, and broadband. According to Sesan, “We can address the policy/innovation problem if government stops trying to implement projects and allows ongoing work in places like Yaba

Tech tools for creating tech solutions

in Lagos, to inform policy choices. Just like Nollywoood, the tech start-up ecosystem is blooming and this can help government decide how to use policy to support this innovation.

Instead of violating digital rights and poising the digital space, Nigeria can actually work towards becoming the innovation hub for Africa through deliberate tech education policy and creating a great environment for these job-spinning and service-producing tech start-ups to thrive.”

“Also, on broadband, we are only two years away from the 30 per cent deadline and while the regulator is busy working towards the answer with mobile access, we need to allow terrestrial infrastructure to blossom as stated in the National Broadband Policy,” he added.

Cybercrime law Examining the impact of the passage of cybercrime law, and the significant value it added to ICT development in 2016, industry experts said the cybercrime law that was passed in 2015, added zero value to the ICT sector in the short term. They, however, said it has actually been more applicable outside the ICT sector, and has been used to arrest bloggers or intimidate innocent citizens, in the long term. They alleged that instead of taking advantage of the cyber-law to prepare Nigeria for cyber-readiness, the law has been used by top Nigerians and security agencies to harass people simply expressing their constitutionally guaranteed rights. They said more than five of such cases were recorded during the year 2016, no thanks to sections 24 and 38 of the law.

Mark Zukerberg’s visit The visit of Facebook founder, Mark Zuckerberg, to Nigeria in August 2016, no doubt, raised the morale of technology startups, who had since then been challenged to develop more technology solutions that will address immediate needs and challenges of individuals, organisations and the society at large.

Shortly after leaving Nigeria with his wife Priscilla, Zuckerberg wrote about his personal challenges for 2016, while developing a simple artificial intelligence (AI) to run his home, like Jarvis in Iron Man. According to Zuckerberg, “my goal was to learn about the state of artificial intelligence and so far this year, I have built a simple AI that I can talk to on my phone and computer.”

The AI uses several artificial intelligence techniques, including natural language processing, speech recognition, face recognition, and reinforcement learning, written in Python, PHP and Objective C. “Before I could build any AI, I first needed

to write code to connect these systems, which all speak different languages and protocols.

We use a Crestron system for our lights, temperature and doors, a Sonos system with Spotify for music, a Samsung TV, a Nest cam for Max, and of course my work is connected to Facebook’s systems,” he said.

Vision and face recognition of Zuckerberg’s AI in 2016 According to Zuckerberg, about one-third of the human brain is dedicated to vision, and there are many important AI problems related to understanding what is happening in images and videos.

“These problems include tracking, object recognition and face recognition.

Face recognition is a particularly difficult version of object recognition because most people look relatively similar compared to telling apart two random objects. But Facebook has gotten very good at face recognition for identifying when your friends are in your photos. That expertise is also useful when your friends are at your door and your AI needs to determine whether to let them in,” he said.

ICT contribution to GDP Citing the current statistics on telecoms contribution to Gross Domestic Product (GDP) as released by the National Bureau of Statistics (NBS) in June this year, the Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta said telecoms contribution to GDP, moved from $18 billion in private sector investments, including Direct Foreign Investment (FDI) in 2009, to $30 billion in 2014, to $32 billion in July 2015, before hitting N1.58 trillion as at June 2016. This represents an increase of 1.0 per cent, relative to the first quarter in 2016.

Danbatta quoted the NBS as saying “This is the largest contribution to GDP made from the telecoms sector in the rebased period, which emphasises that growth in telecommunications has remained robust when compared to total GDP. Communication Tax Bill One major controversy that ensued in 2016 in the ICT sector, was the debate on the planned introduction of Communication Tax Bill, which seeks to increase telecoms tax by nine per cent. The Senate had proposed the bill, which has already passed two readings, awaiting public hearing.

The President of the Association of Telecoms Companies of Nigeria (NATCOMS), Chief Deolu Ogunbanjo and the President of the Association of Telecoms Companies of

Nigeria (ATCON), Mr. Olusola Teniola, where among the several Nigerians who protested the planned communication tax bill, and called on the National Assembly members to drop the idea. They said the bill would be inimical to telecoms growth in the country, as subscribers would be made to pay more for telecoms services rendered by telecoms operators. While NATCOMS threatened to drag the National Assembly members to court to seek redress, should the proposed communication tax bill be introduced, it also assured Nigerians that it would mobilise civil society organisations, Nigerian students, and coalition of Nigeria Consumer Association, for a five million man-match to the National Assembly in Abuja, to protest the proposed communication tax bill.

Spectrum sale A major breakthrough for the telecoms regulator, the NCC, aside transparency in its regulatory approach in 2016, was in the area of spectrum sale, especially the sale of two slots of 25MHz in the 5.4GHz spectrum for the delivery of wireless broadband in Lagos State.

Although NCC saw the sale as breakthrough, industry stakeholders widely criticised it, insisting that NCC should have allowed the 5.4GHz spectrum as free spectrum to be used free of charge by smaller operators who have the capacity to provide clusters of telecoms services in remote areas, but could not afford to participate in spectrum auction because of the heavy cost implication.

Faulting NCC for auctioning the 5.4GHz spectrum, the stakeholders, who spoke at a technology forum in Lagos, organised by the Association of Telecoms Companies of Nigeria (ATCON), said NCC was supposed allow certain spectrum as unlicensed, to enable smaller operators use them free of charge to provide services in remote parts of the country.

Giving clarifications why the 5.4GHz spectrum was auctioned for N55 million and won by Cobranet Limited and Swiftnetworks Limited, the Director, Spectrum Administration at NCC, Austin Nwaulune, said: “The 5.4GHz spectrum was not sold because NCC needed to make money for government. It was sold because NCC wanted to encourage smaller operators who needed the spectrum to rollout services, hence it was sold at N55 million, which is far lower that previous licences auctioned by NCC. “ In spite of the drawbacks in the ICT sector for 2016, industry stakeholders are of the view that 2017 will be a make-or-break year for Nigeria’s ICT sector, especially in the area of broadband penetration.

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Obaro: Remita Software Has Addressed Nigeriaâ&#x20AC;&#x2122;s Financial Imbalance The Managing Director, SystemSpecs, Mr. John Tani Obaro, spoke with Emma Okonji on financial technology trends in Nigeria and how Remita, an electronic payment software, has provided government with data and information to deal with financial imbalance within its system. Excerpts: Remita is electronic payment software used for making and receiving payments, developed

by SystemSpecs and it is currently being used by the federal government for all financial remittances into its Treasury Single Account.

What prompted the development of Remita?

Remita was developed some eleven years ago, but before then, we had a software solution called Human Manager, which we developed for the processing of payroll only. The need to automate the payroll process end to end, compelled us into developing the Remita software, to enable organisations that use Human Manager payroll software to do a lot of things simultaneously, beyond just salary payroll, to include payment of taxes, loans, pensions, cooperative deductions, among others. It was designed in such a way that it could address several payment systems from the press of a single button.

So we designed the first phase of Remita to address payments from a single system, to multiple bank accounts for salaries.

After the first phase of development, SystemSpecs took part in pitching for a multinational company and we used Remita for it. It was at that stage we realised the need to develop software that could handle several payment systems, including vendor payment and we went back to the drawing board to add vendor payment to Remita, thereby expanding the features of the software. Today, Remita does beyond salaries and vendor payments system, because we have added financial collections to it. We have also raised the collection process to another level, such that once a customer is signed up on the Remita platform, that customer could receive funds from anybody that has a credit or debit card.

Since the adoption of Remita software by the federal government, to what extent has it been able to block financial leakages within the government circle?

Information is power and one of the ways to control finances is to have information about the finances. That is what Remita was able to make available to all our users. The federal

â&#x20AC;&#x153;What we have succeeded in doing is to provide a platform for government that gives government accurate information of all financial transactions within the government circle, just as we have done for some state governments and organisationsâ&#x20AC;?

Obaro

government, for instance, has several ministries, departments and agencies (MDAs) and all of these had over 17,000 bank accounts scattered in various banks, making it difficult for government to know the cash position of all MDAs. But with Remita, government now has good information about the position of government money seated in the Treasury Single Account that is controlled by the Central Bank of Nigeria on behalf of the federal government. So government now has information on the total amount of government money in its account and government also has information of the exact amount belonging to each MDA in the TSA account. The ability to have that information and the ability to disburse funds from the single account, is what Remita is offering, thereby reducing transaction time and creating financial accountability.

We also created a platform for electronic receipts, which means that for every payment made into TSA, there is electronic receipt for such payment, thereby eliminating receipt forgery in every financial transaction. So it has helped government in blocking financial leakages that were hitherto taking place.

So what is the volume of financial leakages that Remita software has saved for government, since its adoption?

I am not in a position to give figures on how much Remita has saved for the federal government, but what we have succeeded in doing is to provide a platform for government that gives government accurate information of all financial transactions within the government circle, just as we have done for some state governments and organisations.

How long did it take SystemSpecs to develop

Remita software and what is the percentage of local content embedded in Remita, or is it driven in conjunction with a foreign partner?

Remita is 100 percent â&#x20AC;&#x2DC;Obalendeâ&#x20AC;&#x2122; developed, that is to say it is 100 per cent local, with no foreign affiliations. It is a product that was developed eleven years ago in Nigeria and we are still building on it to meet various needs of our clients. We listen to our customers, and we think of creative ways to optimise the system and that has brought us to the level that we are today with Remita.

Who are the target audience for Remita software and what percentage of the market segment has not been captured by the software?

SystemSpecs started more like a business to business organisation, and we had the traditional software that we sell to organisations. We also have the Human Manager and Payroll software, which we sell to organisations. So we also sold the first phase of Remita to organisations, cutting across oil and gas, banking, trading organisations, multinationals, small and medium enterprises (SMEs), among others. Later we had the privilege of working with the federal government on the TSA project and also with some state governments. But we are now moving into the retail market, to enable individuals take advantage of the unique our software solutions.

In terms of financial inclusion, how has Remita helped in achieving the CBNâ&#x20AC;&#x2122;s cashless policy in the last four years?

Before Remita came on board with the TSA project, CBN had actually written to the office of the Accountant General of the Federation (AGF) to get an electronic payment solution

to implement the TSA project, but the solution was not available as at then. It was two years later that government knew about Remita and invited us to a bidding process. So Remita has made it possible for government to pay into diverse accounts from a single account. Now we have a platform that is making very complex electronic transactions very easy.

There have been lots of hacking going on in the electronic payment space within and outside the country. What is the guarantee that Remita will not fail?

At SystemSpecs, we give top priority to security. In developing a software platform, the developer puts so many checks in place to mitigate risks like hacking, but no single solution anywhere in the world cannot be hacked, yet that does not stop people and organisations from maximising the benefits of the solution, despite this associated risk. For us, the peace of mind of our customers is uppermost on our minds so we never stop security R&D and never stop reinventing our securities systems. The way, at any point in time we are able to guarantee that our solution can prevent financial leakages.

Last week, the federal government presented the 2017 budget of over N7 trillion to the joint assembly. How can Remita help government in the successful implementation of the budget, in terms of money generation and disbursement?

Remita is a platform to keep track of funds, and also help in the effective utilisation of the funds. The 2017 budget as presented by President Muhammadu Buhari, has rooms for fund collection and disbursement and Remita will do well in keeping tract of the money generated Continued on page 27

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OBARO: REMITA SOFTWARE HAS ADDRESSED NIGERIAâ&#x20AC;&#x2122;S FINANCIAL IMBALANCE and disbursed in a more transparent manner.

Nigeriaâ&#x20AC;&#x2122;s present economic recession has been blamed on lack of liquidity in the system, occasioned by TSA. What is your take on this?

What Remita has done is to simply put all the resources of the federal government together for easy accountability, and it should not be seen as mopping money out of circulation and creating recession for Nigeria. Imagine you are a group CEO of a group of companies numbering 10 under you and you want to know the financial contribution of each company under you, it becomes easier to have that information, using Remita. So if there is no money in circulation, people should not blame it on TSA, because the TSA has only helped to provide the real state of financial information and has not removed money from circulation. Again, what TSA has helped t in doing, is to help government make efficient use of the financial information that is available, based on financial data created by TSA. What was happening before the adoption of Remita, was that there were lots of financial inefficiencies and there were no financial data to address the ugly trend. Nigerians should know that TSA is for the greater good of the larger society.

What is the impact of electronic payment system on the Nigerian GDP? A lot of studies have shown that countries that implement electronic payment systems have experienced greater impact on their GDP. They have recorded increased GDP figures ranging from 3 to 5 per cent impact or more and Nigeria cannot be an exceptional country. So without TSA, the Nigerian economic situation would have been worse than what it is today.

Without electronic payment system, GDP growth in the country could have been more depressed. Part of what electronic payment does, is to improve the velocity of money in the economy. Remember that it used to it take a minimum of 28 days to clear a cheque for payment, but with the introduction of electronic payment system, it now take a minimum of two hours to clear cheques for payment. So with the fast payment and clearing of cheques, the recipients of cheques can quickly turn it around and money goes into circulation again, thus increasing liquidity in the system. So in the same vein, Remita has made it a lot easier for people to move around funds to generate value and that is how economies grow.

Obaro

aunder a scheme we refer to as the Remita Seed Funding.

What is your assessment of cashless economy since its inception, as driven by the Central Bank of Nigeria (CBN)?

From my personal assessment, I would say we have not gotten there yet, but a lot of changes have taken place in the electronic payment system and that has helped grown the economy to a large extent. Although we have not reached where we loved to be as a country, the truth is that there has been significant growth in the electronic payment system, driven by the cashless initiative of the CBN. So a lot has happened in the last four years of electronic payment in the country. Today a lot of transactions are done online and people no longer carry cash in cartons and bags because they know that they can now transact electronically. Yes, people still do a lot of withdrawals using their Automated Teller Machine (ATM) cards, and I do not see this as a true cashless practice. But I see the use of ATM cards declining in the near future.

Nigerians have shown much love for foreign software, and they prefer to partronise foreign software instead of local software. Do you see that trend changing?

Before now, the utilisation of software was skewed toward foreign developers to the detriment of the local ones, but all that is changing gradually.

In every bad situation, some good things can come out of it. While some are complaining of the bad side of the economy, some will see the good side of the economy and catch up with it.

Take the foreign exchange situation for instance, where the scarcity of forex is forcing people to look inward to locally developed products. Right now, there are so many organisations looking inwards for their software needs because they want to save costs without compromising on quality. From what I see, many of the software needs in this market can be addressed locally.

So now that attention is being drawn locally, I see it as big opportunity for the indigenous software industry to make a difference in product delivery, and become more relevant in providing veritable solutions to business challenges. So the forex scarcity is a blessing in disguise for Nigerians.

In the financial technology space, technology startups still struggle with ideas that are commercially viable, that could address present needs. What is SystemSpecsâ&#x20AC;&#x2122; contribution to the growth of technology startups?

The truth is that there are lots of ideas out there addressing several needs of individuals, organisations and society, so if any startup is still struggling to come up with marketable ideas, then such startups have no business developing technology solutions because the startup solutions and ideas will be dead on arrival. Startups must have ideas that address real challenges. SystemSpecs is willing to support startups and we have been doing that in various ways, through sponsorships of software development competition at various fora. But for startups to attract support and funding, such startups must be able to develop ideas that can solve real life challenges. We are currently working with startups to empower them in order to upscale their businesses and we are currently looking at three of such startups

Going by current trend, there seems to be a noticeable transformation to financial technology space by SystemSpecs. What is actually driving the transformation?

Yes you are right because 25 years ago when SystemSpecs berthed, we initially had a challenge on the choice of name, but what readily came to mind that was closest to SystemSpecs, was the name â&#x20AC;&#x2DC;Financial Software Solutions (FSS), and that was so because of what we have in mind from the outset to drive financial payment systems.

Today, we are gradually shifting towards that vision, which is all about financial technology.

Now SystemSpecs is using technology to address financial issues and this is a big market for Nigeria. Like the Global System for Mobile Communications (GSM) , we see financial technology as what will redefine economies worldwide in the coming years and it will cut across many industries. Just like how the GSM now cuts across several sectors, and not just the telecommunication sector. Innovation will continue to be the driving force, recall

that organisations that fail to innovate stand the risk of extinction. Kodak used to be the biggest camera industry globally, but today they have gone into extinction because they failed to innovate.

So we are innovating as technology keeps evolving. Organisations and individuals must make payments and these payments rest on financial technology, and that is what will redefine the software industry. The banks for instance, are beginning to work closely with the financial technology industry because it makes their transactions more efficient. Also, financial technology will make investors make more informed decision about their businesses.

SystemSpecs has grown to become a big organisation since the adoption of its electronic payment software by the federal government.

Are there plans to list SystemSpecs in the stock exchange anytime soon?

I will rather leave the issue of listing to our financial advisers, but for now, we are concerned about creating solutions that will be very relevant in the new economy.

Unemployment rate is on the increase in the country. How can Nigeria key into financial technology to reduce the rising rate?

This is a very sensitive question because it bothers on the people and the economy. Most people think that automation, which is associated with financial technology, causes loss of jobs, but that is not true. The challenge it poses on us is on the quality of employment that it brings. In the Nigerian society for instance, government is making efforts to diversify the economy in the areas of agriculture and mining, but I see these as short them measures, even though they sound good and are likely going to provide jobs for our youths. What we need as a country is efficient long-term measures to solve unemployment. Take agriculture for instance, where advanced economies of the world are currently creating robots to take over human efforts in agriculture. Now, if Nigeria decides to invest in our youths in the area of agriculture, how competitive will Nigeria be, compared with countries who use robots to mass-produce agricultural products. By the time there are low cost robots that can do farming more efficiently, then we should realise as a nation that we must not delude ourselves as

to think of competing with such countries in the area of agriculture.

While they have machines to do the work, Nigeria will be over-working its youths to generate agricultural products, which could lead to failed health situation among youths. I know it is a sensitive thing to say, especially now that we are in recession, but we have to do those things that will give us comparative advantage over other economies, such a diversifying in the area of financial technology. The number of jobs that alone can create is significant. Also, when a nation becomes more prosperous from the effective utisation of technology, the youth become more creative their talents leading to increased productivity.

SystemSpecs was at GITEX technology exhibition in Dubai in October this year, where it showcased its solutions to the world. What are your plans to take your solutions to other African countries beyond Nigeria?

We are working hard to expand the business beyond Nigeria and we are looking at taking the solution to other African markets. In 2017, we have plans to have aggressive rollout of our solutions in other African markets, and we are already building on the team that will handle this. We are currently at the final stage of the release of our mobile app, which is going to be our flagship solution that we will take to other African markets.

The founder of Facebook, Mark Zuckerberg was in Nigeria a couple of months ago, and he was impressed with what Nigerian tech startups are doing in the area of software development. What is your assessment about Nigeria tech startups?

Nigerians by our very nature, are very industrious people and this can be seen in our youth that are into software development. They are very creative and creativity is actually moving the technology startups forward. Take Nollywood for instance, that have developed themselves to the extent that they have become the toast of other nations, and the next big growth in Nollywood will be driven by technology. Zuckerbergâ&#x20AC;&#x2122;s visit to Nigeria, no doubt drew a lot of global attention to Nigeriaâ&#x20AC;&#x2122;s tech startups, and they are beginning to attract more attention. So I see vibrant tech startups that will advance their solutions beyond the Nigerian market soon.

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FinTrak Demystifies Financial Reporting with IFRS 9 Software Stories by Emma Okonji In a bid to ensure seamless transition and sustainable financial instruments reporting for banks, insurance companies and other financial institutions in Nigeria, by January 1, 2018, FinTrak, an indigenous software solutions provider, has release of FinTrak IFRS 9 Solution.

The new standard on financial instruments, IFRS 9, was issued by the International Accounting Standards Board on 24 July 2014 to replace

IAS 39 Financial Instruments, Recognition and Measurement.

The new standard brings fundamental changes to financial instruments accounting especially in the areas of classification and measurement and impairment of financial assets.

Speaking at the unveiling event in Lagos recently, Group Managing Director of FinTrak SoftwareCo, Limited, Mr. Bimbo Abioye, said: â&#x20AC;&#x153;Nigerian banks should learn from mistakes of the past and avoid the booby

trap of investing heavily in foreign financial instruments calculation engines that are not easily adaptable to our local business needs, and with a very low probability of success.â&#x20AC;?

He stressed that the FinTrak IFRS 9 solution was not only developed by Nigerians for the Nigerian market, but to also assist banks, insurance companies and other financial institutions in migrating their existing IAS 39 based financial instruments reporting processes and software

to IFRS 9. â&#x20AC;&#x153;The Fintrack IFRS 9 solution is user friendly with a simple interface that will enable a non-ITperson to operate with ease,â&#x20AC;? he said.

Head, Department of Professional Practice, West Africa at KPMG Professional Services Nigeria, Agnes Lutukai, said: â&#x20AC;&#x153;Half of the financial institutions in Europe are unprepared for the transition to IFRS 9 and the extent of work that may be required to achieve IFRS 9-compliant reporting

will be significant for banks in Nigeria, hence banks, insurance companies and other financial institutions should start IFRS 9 implementation in earnest, so as to effectively manage regulatory and business surprises.â&#x20AC;?

She advised banks to use proven methodologies and an effective IFRS 9 software in various projects and that the FinTrak IFRS 9 solution be should be considered in every financial transaction.â&#x20AC;?

The Executive Director,

Technical Services at FinTrak Software Company, Steve Ongharaka, said the â&#x20AC;&#x153;FinTrak IFRS 9 reporting solution remained an end to end financial instruments reporting system, from data acquisition/integration, data analysis/valuation, 12months Probability of Defaults (PDs) /Lifetime PDs computations, expected credit loss/impairment calculations, Credit Conversion Factor calculation, among others and all of these computational routines are processed automatically.â&#x20AC;?

Smile Offers Customers 200 Minutes Free Calls across Networks Smile Communications, the pioneer 4G LTE telecommunications service provider in West Africa, has commenced â&#x20AC;&#x2DC;SuperTalkâ&#x20AC;&#x2122; promo, which offers customers on the Smile network, up to 200 minutes free calls to all networks in Nigeria designed to thrill its customers this Yuletide.

Applauded by industry watchers as a worthwhile yuletide bonanza, customers on the network will recharge and enjoy incremental voice minutes based on their preferred data plan. A customer who purchases a 1GB data plan will get 10 minutes free calls with a validity period of 15 days. The purchase of 2GB data plan offers 20 minutes free calls also with 15 days validity period. Purchase of 3GB data plan offers 30 minutes free calls with 30days validity period.

The 5GB and 7GB data plans offers 60 minutes free calls with 30 days validity period, while the UnlimitedLite, 10GB, 15GB and 20GB offers the customer

120 minutes free calls and 30 days validity period.

The UnlimitedPremium, 50GB, 100GB and 200GB offers an unprecedented 200 minutes free calls time with 30 days validity period.

A statement by the company indicated that the promo is one of the many ways the company has designed to richly reward customers for their loyalty. The statement enjoins customers of Smile as well as prospects to take advantage of the offer to maximise their call time to families and friends especially at this yuletide period.

It emphasised that customers stand to benefit from â&#x20AC;&#x2DC;SuperTalkâ&#x20AC;&#x2122; only to the extent of the renewal of their preferred data plan.

On what informed the customer-centric initiative, the statement avowed that the offer remained a veritable tool to achieving the objective of providing Smile customers with affordable but high-end communication services.

Gionee Partners Etisalat to Unveil Gionee M6 Smartphone Gionee, in partnership with Etisalat, has unveiled its latest flagship smartphone device, Gionee M6 with unique proposition of Internet of Things (IoT).

Speaking at the launch of the device in Lagos, the companyâ&#x20AC;&#x2122;s Marketing Director, Shomoye Habeeb, said the new device could also serve as remote control for every type of television set, interacts with refrigerators and other home appliances.

He said: â&#x20AC;&#x153;For the smartphone world, it is the best of times, as it is the time of bests. The Gionee M6 is a fresh evolution of the Gionee species that promises to raise the smartphone experience to newborn dimensions with a powerful battery, security chips and speed like never before.â&#x20AC;?

According to him, as smartphone increasingly become an integral part of our lives, the importance of mobile security grows increasingly paramount. â&#x20AC;&#x153;Think about how much of our life is stored in that little device- private conversations and photos with loved ones; financial and employment information, detailed records of our daily habits. It is pretty scary, right? That is why Gionee makes mobile security the biggest priority with its newest smartphone, the M6 â&#x20AC;&#x2DC;the worldâ&#x20AC;&#x2122;s safest smartphone.

Everybody needs space and speed and Gionee M6 can afford you plenty. Its internal memory is a whopping 64GB ROM which can store more of your files, music, games and movies. The M6 also has a 4GB RAM. You can open more apps at the same time with the support of Etisalat (4G LTE) services,â&#x20AC;? Habeeb said.

He explained that the smartphone is capable of addressing issues with cybercrime.

He also said that Gioneeâ&#x20AC;&#x2122;s drive to provide extra security for smartphone was not entirely an altruistic one, adding that part of the direction was to distinguish M6 from the flood of new Android phones in the market.

Giving details of the partnership deal between Etisalat and Gionee, the Head, High Value and Mass Market Segment, Etisalat Nigeria, Idowu Adesokan, said the network had launched 4G LTE service into the Nigerian market, offering the customers increased access to high speed data and quality voice services real time. He further explained that with the new technology and Gionee M6 device, the customers would enjoy efficient broadband internet and uninterrupted connectivity to increase access to online streaming and ultra-high definition videos.

LUCKY WINNER

L-R: Member, Panel of Judges, The Next Titan season-3, Mr. Chris Parkes; Chairman/CEO of CPMS Africa; Mrs. Lilian Olubi, CEO of Primera Africa Securities Limited; Winner of the Next Titian, Mrs. Marvis Marshal-Idio; Divisional Head, Retail/SME, Heritage Bank Plc, Mrs. Ori Ogba; CEO of The Next Titan, Mr. Mide Kunle-Akinlaja and member, Panel of Judges, Mr. Tonye Cole, CEO of Sahara Group; at the presentation of N5million to the winner of The Next Titan, Season-3 in Lagosâ&#x20AC;Śrecently

Turkish Airlines Selects Panasonic for Inflight Entertainment, Connectivity Turkish Airlines has selected Panasonic Avionics Corporationâ&#x20AC;&#x2122;s (Panasonic) advanced eX1 inflight entertainment and communications (IFEC) system and Global Communication Services for its new fleet of narrow body aircraft. eX1 solution is an advanced narrow body IFE system. Its uncompromising industrial design, high-definition display technologies and high fidelity audio create a home theater atmosphere that draws passengers into an immersive entertainment experience.

The system will include Panasonicâ&#x20AC;&#x2122;s unique Passenger Data Integration (PDI) service, which will allow Turkish Airlines to add higher levels of personalisation to its inflight experience. PDI will also allow Turkish Airlines to seamlessly recognize the travel preferences of their guests and recommend content, services and amenities specific that will enhance their experience both in flight and in their destination city.

PDI will leverage a customdesigned Companion App that will enable passengers to securely pair their mobile device to the IFEC system and personalise and enhance their entertainment experience through capabilities that include custom playlists and a second screen environment.

The onboard experience will also include high-speed, global Wi-Fi and multiple channels

of live television, enabled by Panasonicâ&#x20AC;&#x2122;s Global Communications Services. It is the only worldwide inflight connectivity service operating in every country in the world today.

Turkish passengers will be able to use the service to remain connected to their friends, families, co-workers though high speed access to the Internet, social media platforms, corporate VPN networks and more. Passengers will also receive live text news customised for Turkish Airlines

by Anadolu Agency (AA), a leading Turkish news agency.

The television service, which is unique to Turkish Airlines, will feature TRT World Turkish News Channel- a new channel from Turkeyâ&#x20AC;&#x2122;s national public broadcaster, TRT, which broadcasts balanced, in-depth reporting with a focus on global responsibility.

It will also offer eight additional global channels including Sport 24. Sport 24, which is owned and operated

by IMG, offers live coverage of the worldâ&#x20AC;&#x2122;s most popular sporting events. In 2016, the channel showed live action from the Rio 2016 Olympics Games, Premier League, NFL, UEFA Champions League, NBA, Tennis Grand Slams, Bundesliga, Golf Majors, MotoGP and the Ryder Cup. Panasonic Avionics is the only authorised distributor of Sport 24 to the air transport market.

NCC Calls for Improved Service Quality at Yuletide The Nigeria Communication Commission (NCC) has called on all telecoms operators in the country to ensure high service quality delivery on their various networks during the Yuletide.

The Executive Vice Chairman of NCC, Prof. Umar Dambatta, who made the call at the grand finale of the NCC-Sponsored Telecoms Cup Tennis Tournament in Lagos, also explained that the yuletide was not like any other period of the year in terms of service usage. According to him, telecoms operators should envisage increase in volume of voice calls and data communication, and must do everything possible to ensure that customers enjoy full scale uninterrupted telecommunication service offering during the season.

Dambatta, who was represented by a Deputy Director at the Commission Secretariat, Mr. Jerry Ugwu, charged operators to be prepared to fully cater for subscribersâ&#x20AC;&#x2122; reliance on voice, data and short messaging service (SMS) in the period, adding that festive period would always witness increased traffic on telecoms networks.

According to him, â&#x20AC;&#x153;NCCâ&#x20AC;&#x2122;s message on a good Quality of Service (QoS) is always consistence to serve the interest of all- operators, subscribers and stakeholders, despite that the players are believed to know the dynamics of the market and understand the

demand flow as well. â&#x20AC;&#x153;This is a period that traffic is higher and so, operators must be prepared to meet the demand because it brings business to them, and they too would not be happy should bad quality of service lead subscribers to deserting their (operatorsâ&#x20AC;&#x2122;) networks,â&#x20AC;? he said.

The telecoms regulator also called the attention of operators to migration of traffic from major cities to the hinterland which might lead to the emergence of the need to adjust service distribution within the period.

Meanwhile, the final game for the tournament between Nishant Abi and Walter Eze closed at 6-1; 6-1 with Eze, a veteran who had represented Nigeria in international tournaments in the past and already in his 50s lost to Abi in the exciting match. Also, Nishant and his partner won the Menâ&#x20AC;&#x2122;s Double in the tournament.

In his remark, the Vice Chairman, Tennis Section of Ikoyi Club, Mr. Sunny Onegbu, commended the NCC for putting efforts into sustaining sponsorship of tennis competitions to rejuvenate the game in Nigeria, stressing that the sport was almost dying because of lack of sponsorship. â&#x20AC;&#x153;A long time ago, tennis used to be a very popular sport in Nigeria but not again.

Today, it is football that attracts a lot of sponsorship because it is very popular.

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Whitehill: By 2050, African Will Have over 1bn People in the Productive Phase Despite the challenges on the African continent, many experts are optimistic that there are still numerous untapped opportunities on the continent. Gary Whitehill, an entrepreneur and driven philanthropist with a footprint in four continents, is one of such individuals with an unwavering hope. In this interview with Ugo Aliogo, he highlighted how Africa can maximise its potential by tapping into these numerous opportunities. Excerpts: Why are you interested in Africa?

Right now there is a chaotic clash happening all around the world between out-dated 20th Century structures, policy, and thinking versus the unstoppable transformation that 21st Century reality has brought with it. In nations around the globe, die-hards are fighting to save elite, entitled traditional economies and power structures. Interestingly, even though Africa has many challenges, it does not have the problem of being stuck in the industrial mire of the past century. Unlike the Western world, Africa has a choice.

The next decade will define the African continent in unexpected ways. The train to widely distributed prosperity across Africa is just getting on the tracks, and it could become a bullet train going 300km an hour within a decade. Moreover, Africa is harbouring the most powerful force shaping its future- the destiny of demographics. By 2050, Africa will have over a billion people in the most productive phase of their lives. An entire generation of African men and women will have been raised in times of exponential growth. Their innate ingenuity around survival coupled with their creative energy and access to technology will dramatically alter Africaâ&#x20AC;&#x2122;s future.

My interest in Africa is simple: I believe in creating platforms that catapult people to greater opportunity, fulfillment and success.

At 24 I built one of the largest global networks for entrepreneurs in the world, Entrepreneur Week, which has led me on the journey of executing 70+ public and private projects across five continents by age 33. As an experiential learner, not an ivory tower theorist like other futurists, I have immersed myself at the ground-level across the world, from Rio to Santiago, Kabul to Dubai, Manila to Dhaka, Belgrade to Madrid, and Accra to Kigali.

Leveraging this on-the-ground wisdom, my experience across Africa shows me it is ripe to become the ultimate innovation platform.

I know for a fact that Africa is the continent of opportunity and it is at a tipping point. I also know for sure Africa is the future... right now! Too many people on the continent and especially throughout the world underestimate Africaâ&#x20AC;&#x2122;s emerging potential. The advent of rapid change will exponentially accelerate over these next few years. You will see for yourself: 30 years of progress will happen in Africa over the next five years.

With this in mind, it is rewarding for me to work side-by-side with passionate progressive leaders in companies, cities and nations across Africa, especially those who are not afraid of the impending tsunami of change, and who are ready to seize the momentum of the 21st Century instead of being crushed by it.

So much has been said about the â&#x20AC;&#x2DC;Africa Risingâ&#x20AC;&#x2122; narrative. What is your take?

The â&#x20AC;&#x153;Africa Risingâ&#x20AC;? narrative brings a limited scope. Itâ&#x20AC;&#x2122;s like saying the future of this continent depends on an ability to bake a cake: to get it correct we need all the right ingredients together in the right way, and with a good mix, Africa magically rises. That kind of theoretical, data-centric thinking is perpetuated by the World Bank, the IMF, the UN and numerous other well-intention bodies.

But frankly, thatâ&#x20AC;&#x2122;s an unleavened mix which wonâ&#x20AC;&#x2122;t stand the heat of an exponential and unpredictable 21st Century.

With the amount of latent creative energy on this continent, Africa should and will experiment in unique ways. Instead of looking

Whitehill

back and drawing on a recipe from the 20th Century industrialisation cookbook, Africans must mix brand new ingredients together to become densely networked future-forward communities. While the rest of the world is pondering Africaâ&#x20AC;&#x2122;s rise through a Western lens, the young men and women across Africa will be cooking with rocket fuel, going far beyond traditional barriers and doing moonshots over conventional mindsets.

Now I do agree business leaders and

I know for a fact that Africa is the continent of opportunity and it is at a tipping point. I also know for sure Africa is the future... right now! Too many people on the continent and especially throughout the world underestimate Africaâ&#x20AC;&#x2122;s emerging potential

policymakers still need to be empowered with the correct tools, paradigms, and platforms to become FutureReady for what the 21st Century has in store for Africa. The potential is undoubtedly here. But propelling ahead on rocket fuel will be dangerous, so it is important to launch from an adaptive and nimble platform. For this reason, in the time that Africa is taking off, there are three main challenges on the continent which have to be addressed: insidious government indifference, the non-operational but maturing business environment, and a vast lack of skilled workers.

The first obstacle for Africaâ&#x20AC;&#x2122;s impending future is that governments have got to stop their indifference. When I say stop the indifference, I mean stop their self-preservation mode. This behaviour has become ingrained in Africa, the mind-set that government is where money is being made. Itâ&#x20AC;&#x2122;s an insidious mentality installed by the colonialists, where power and wealth were tied to bureaucratic control.

In postcolonial times, with no business infrastructure in place, government became the employer of note, and presidents became perpetual money-mongers. Africa suffers broadly from a lack of genuine efforts by its governments in power today to uplift their people from the poverty line. Instead, governments use infrastructure, education and food as weapons in a war to win votes that keep them in the seats that make them and their circle of cronies an ever-increasing fortune.

Letâ&#x20AC;&#x2122;s be clear about Africaâ&#x20AC;&#x2122;s future: business is what has to make money. It is in the discipline of business, and not in government or through government, that wealth should be made. Otherwise, as weâ&#x20AC;&#x2122;ve seen for the past 100 years, money-making through government retards the opportunity for innovation and value-add businesses to flourish. Policymakers need to understand that fostering prosperity through business opportunities is the only

way enough wealth will be created across the continent in order for billions of people to live in a functional, inclusive and resilient environment.

The obstacle to business maturity is understanding how to build greater momentum in an evolving African business landscape. Itâ&#x20AC;&#x2122;s imperative for Africa to drop the MBA-driven Western thinking that revolves around linear cause-and-effect strategic planning. Africaâ&#x20AC;&#x2122;s future has several paths: some are possible, a few are probable and many are desired.

With the unbounded thinking that is often found on this continent, African businesses can shape those possibilities and desires into future probabilities. Instead of focusing on five-year plans and 10-year strategies, African companies need to be adapting their business models around agile scenarios that are responsive to the continentâ&#x20AC;&#x2122;s uncertainty and buoyed by its ever-present risk.

Unfortunately, today African countries are held victim by continued government trade policies which retard the opportunity to focus on innovation and developing new verticals with resulting high value-add exports.

While policymakers pay lip service, the fact is these agreements being signed end up undermining the critical manufacturing base the continent needs to leapfrog its current reality. Unfortunately, because money is in politics, we see how governments remain indifferent to truly helping the business landscape to mature in healthy, sustainable, and inclusive ways.

Remember, Africans are building for future business needs; we donâ&#x20AC;&#x2122;t have to evolve the industrial platform. We need to seize innovation and technology - right now. Not surprisingly, Africa has already demonstrated its ability to create unique solutions for under-served opportunities.

Just look at mobile communications and mobile banking on the continent â&#x20AC;&#x201C; we wonâ&#x20AC;&#x2122;t Continued on page 31

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WHITEHILL: BY 2050, AFRICAN WILL HAVE OVER 1BN PEOPLE IN THE PRODUCTIVE PHASE be building brick and mortar infrastructure when itâ&#x20AC;&#x2122;s not needed. Future Ready business maturity in Africa will evolve through businesses that fail fast and learn rapidly in an infrastructure-deprived but future fueled environment thatâ&#x20AC;&#x2122;s boosted by the creative energies of tens of millions of Millennials, the worldâ&#x20AC;&#x2122;s transformation generation.

This brings me to the third challenge.

Africa is the youngest continent in the world.

Demographics are actually our destiny â&#x20AC;&#x201C; and demographics will deliver for Africa. The 1.1 billion populations will double within 35 years, and the continent will have almost 1 billion humans under the age of 18, and another billion in the productive workforce aged between 18 and 59. We already see that kind of opportunity emerging with 7 of the 10 fastest-growing economies residing in Africa.

I speak highly of Millennials as change drivers, but here in Africa, we still need to see more and more young people moving earlier and earlier from theoretical classrooms directly into hands-on business ventures. In the old-school paradigm, students spend a quarter of their entire life striving to attain paper qualifications that look pretty on a wall. Yet, whatâ&#x20AC;&#x2122;s needed across Africa are people who learn by doing â&#x20AC;&#x201C; those who think critically, who can adapt, and who are resilient. These are natural qualities in Millennials â&#x20AC;&#x201C; thinking, questioning and challenging.

The Western-inspired education system is too parrot-style and is wholly irrelevant for the reality on the ground in Africa. I predict information technology will revolutionise education in Africa, and within the next five years young people will wake up to the fact that a paper education does not equal a job opportunity. This reality will force greater ingenuity and industriousness, compelling the education system to rapidly evolve. Africa needs questioners, critical thinkers, and sense makers. The people who will really succeed in the 21st Century across Africa are those who are experiential tinkerers, not the ivory tower educated elites.

What is the place of innovation in addressing Africaâ&#x20AC;&#x2122;s challenges?

You may not realise it, but Africa and the word â&#x20AC;&#x153;innovationâ&#x20AC;? are synonymous. Across the continent, innovation is not just some cool fad for kids fed with a silver spoon like it is in America. Do not forget, Africa is the cradle of mankind. This is where life sparked. Itâ&#x20AC;&#x2122;s where fighting for survival sharpened our senses and challenged our innate creativity. Even today, here in Nigeria, just as it is true in Ghana, Egypt, Tanzania or Zimbabwe: human ingenuity is often what ensures you stay alive.

Innovation in Africa now has a new impetus.

Information technology can both extend reach and accelerate intent. Take this everincreasing information technology, add Africaâ&#x20AC;&#x2122;s creative energy, and youâ&#x20AC;&#x2122;re going to see exponential impact. Why is Africa ripe for innovation? Because thereâ&#x20AC;&#x2122;s such a deep hunger here; young Africans are ready for solutions that are sustainable, resilient and inclusive. Youâ&#x20AC;&#x2122;re starting to hear these young voices get louder and louder across the continent. They want effective leadership, pushing for better opportunities and demanding accountable governance.

Weâ&#x20AC;&#x2122;re seeing the emergence of shared values inspired by the promise of a brand new century. With the right vision for innovation and the right platforms for accelerating information technology, Africa can leverage its global late-comer advantage to unexpected heights. There is a massive wealth of scientific and technological information lying dormant across the world that can be easily imported and leveraged right now. Most of it can be found through remote keystrokes. In order to leapfrog current on-the-ground realities, emerging Millennials just need access to be able to put existing knowledge to constructive use.

Across Africa, young people are already shaping levels of access to create, innovate, and self-express. For instance, here in West Africa weâ&#x20AC;&#x2122;re seeing hands-on youth engagement programs such as the GhanaThink Foundation, visionary innovation community projects such as SiliconAccra, and emboldened social media

Whitehill

movements such as the backlash against President Buhariâ&#x20AC;&#x2122;s #ChangeBeginsWithMe campaign. My job as a futurist is to motivate the courageous visionaries to build properly developed innovation capacity for their companies, cities and regions in order to ensure Africa achieves sustainability, resilience and inclusiveness â&#x20AC;&#x201C; at a faster rate.

What do you think of African innovations?

As we launch ourselves into the early decades of a new century we have this unwritten, undeclared credo pushing us forward â&#x20AC;&#x201C; believing that weâ&#x20AC;&#x2122;re standing at the edge of a â&#x20AC;&#x153;smartâ&#x20AC;? future. People think weâ&#x20AC;&#x2122;re deploying â&#x20AC;&#x153;smartâ&#x20AC;? processes and systems.

But this picture is false. Itâ&#x20AC;&#x2122;s only a half-truth at best, and it is giving us a wrong sense of security about the 21st Century. Do you know what is really happening today? Tapping away on phones gives all of us a fake sense of distance and connectness. Weâ&#x20AC;&#x2122;re together, yet we have never been more on our own.

We are creating cities and communities held together by infrastructure and smartphones, but in the process we are losing out on the very energy that drives all of our creative endeavors: human ingenuity.

This is what makes African innovators different. Sure, youâ&#x20AC;&#x2122;re seeing kids on corners getting sucked into smartphone virtual life.

But that same kid goes home to a house crowded with three generations of family and extended family. That kid sees filthy open gutters and people around him suffering and struggling to survive.

That kidâ&#x20AC;&#x2122;s creativity is not bounded in its thinking. Meanwhile, the rest of the world is dealing with limited enthusiasm, steered

Across Africa, young people are already shaping levels of access to create, innovate, and self-express. For instance, here in West Africa weâ&#x20AC;&#x2122;re seeing handson youth engagement programs such as the GhanaThink Foundation, visionary innovation community projects such as SiliconAccra

forward by deeply entrenched grey-haired imperialist middlemen, which results in incremental innovation gains. Africa has an infinite number of triggers for spurring creativity because necessity is the ultimate mother of invention. Take this on-the-ground fact, place it onto a blank canvas with unlimited possibility, and Africans can paint whatever future reality they want for their continent.

But, and this is a big â&#x20AC;&#x153;but,â&#x20AC;? to capitalise on innovation across the continent over this next decade, young Africans have to agitate for better leadership in business and throughout government. They have to use their votes and their voices now to create the kind of leadership Africa needs for the 21st Century.

Innovation thrives when leaders realise they serve the people, not when itâ&#x20AC;&#x2122;s stifled by todayâ&#x20AC;&#x2122;s oppressive reality in some African countries; where the people are still serving those few elites in power.

Instead of pushing for a hierarchical control agenda in rigidly structured environments, future-forward African leaders will value openness and drive opportunity for their people. In the end, leadership is about justice, and justice is born from transparency, which only happens when all of us know we are included. The days of perpetual presidents are numbered as young people across Africa find their voice and embrace dissent as a way to bring change for a better future.

In your opinion, what kind of innovation does Africa really need?

Structural innovation, whether itâ&#x20AC;&#x2122;s the African Union, the president of an African country, the governor of a state, or the CEO of a multi-billion dollar African company; they all need to understand that there are structural innovation forces that will unlock Africaâ&#x20AC;&#x2122;s opportunities in the 21st Century. In its base form, structural innovation is a cumulative sum, where first you capture creative energy and then you shape it with technology. Combined, these two forces generate new shared values, and these values become the cultural force which drives the kind of human ingenuity that creates solutions and opportunities where more people benefit, more of the time.

Structural innovation happens when people come together. What I am talking about is Africaâ&#x20AC;&#x2122;s ability to create forward momentum by leveraging that Ubuntu spirit among people that encourages collaboration, collective contributions and co-creation. Second, structural innovation occurs when thereâ&#x20AC;&#x2122;s planned technology, and where technology solutions accelerate the intent we collectively express. There are great examples of how technology is redefining Africaâ&#x20AC;&#x2122;s geographic and resource limitations â&#x20AC;&#x201C; but as weâ&#x20AC;&#x2122;re seeing drones delivering blood supplies to rural villages, we have to ensure weâ&#x20AC;&#x2122;re planning and not regulating creativity out of existence.

Structural innovation occurs when the forces of directed innovation, accessible information technology and shared values

are brought together with people at the center.

Only then will we witness a more inclusive and just Africa that can succeed in rewriting the cyclical poverty-war-disease narrative.

Ensuring a fulfilling life of prosperity for all Africans is the goal, not simply eradicating a Western metric called â&#x20AC;&#x153;poverty.â&#x20AC;?

Structural innovation isnâ&#x20AC;&#x2122;t inherited or imported. Africa needs leaders who have the courage to discuss the irrelevance of the manufactured borders left in place by the colonialists. Leaders who will cut the â&#x20AC;&#x153;insert well-intentioned world organisation hereâ&#x20AC;? strings that pull us away from structural innovation. The future of Africa lies in resilient, adaptable, and cooperative region-states and mega-city-communities, not unyielding Western-inspired nation-states with arbitrary lines and strings attached sponsors.

Regarding cities and states, mayors and governors need to understand how to develop inclusive innovation communities which accelerate opportunities for collaboration and creativity, instead of suppressing it.

Structural innovation means investing in infrastructure to allow the supply market to develop. Africa will move towards more functional economies as we see an increase in informed, empowered, and prosperous consumers who seek durable products and services which meet their unique needs.

Structural innovation needs governance that supports and drives economic opportunity for all, with tangible incentives focused on strengthening the value-add manufacturing sector. Structural innovation also includes implementing measures that result in more collaborative financing instruments which focus on working hand-in-hand with the local communities from which they operate.

Regarding business, CEOs need to understand the five core future trends that will catapult business growth in the 21st Century.

First, thereâ&#x20AC;&#x2122;s the devolution of power, where businesses need to move away from silo structures and control hierarchies. In their place, they need to create collaborative innovation hubs. These hubs thrive on the second trend, which sees the evolution of networks over systems.

More simply stated, systems are closed, while networks are open and a more fluid environment for structural innovation.

People dynamics are also transforming the prospects of business across Africa, demonstrated by the significant rise in communities with shared values, and modern-day digital tribes formed around networks of trust. Lastly, business leaders must understand how structural innovation seizes the emergent opportunities of a borderless world for doing business in the 21st Century.

Equally important, Africa needs to escape the ongoing structural violence of â&#x20AC;&#x153;create, loot and shareâ&#x20AC;? mindsets, which continue to impair the ability of every single one of the 54 countries on this continent to meet basic fundamental human needs.

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Is MMM a Ponzi Scheme?

Uche Ohia traces the origin of Mavrodi Mondial Moneybox (MMM), a rapid profit investment scheme, believed to be a Ponzi scheme Recently, Nigeria has been taken over by an investment epidemic called MMM. I understand that MMM stands for Mavrodi Mondial Moneybox. So pervasive has this rapid profit investment plan become that there is hardly any family that does not have some investors within their folds. In some cases, an entire family has invested hard-earned cash running into millions of naira â&#x20AC;&#x201C; and probably dollars too. Before it recently announced a freeze in transactions, MMM was the rave of the moment as far as investment goes. The buzz was everywhere.

MMM may be a new name in Nigeria but the business strategy on which MMM is structured is not new. It has been tried in Nigeria in the past by the infamous Umana E. Umana in Port Harcourt and Uyo and by several other dubious outfits in Benin and Lagos which the imaginative Nigerian media came to dub as â&#x20AC;&#x153;wonder banksâ&#x20AC;?. Of course, most rapid-profit investment plans are based on the Ponzi Scheme. What is a Ponzi Scheme? To understand what a Ponzi Scheme means, it is better, first, to understand who Ponzi was.

Between March 3, 1882 and January 18, 1949, there lived a man called Charles Ponzi. Ponzi was an Italian businessman and swindler in the U.S. and Canada. His name at birth was Carlo Ponzi but he adopted the English name â&#x20AC;&#x153;Charlesâ&#x20AC;? to facilitate his integration into the American society. His other aliases included Charles Ponci, Carlo, and Charles P. Bianchi. Born and raised in Italy, Ponzi became infamous in the early 1920s as a con artist in North America for his fantastic money-making scheme. Put simply, Ponzi promised clients a 50% profit within 45 days, or 100% profit within 90 days on their investment â&#x20AC;&#x201C; an irresistible offer at any time, in any age.

Specifically, he offered to help them buy

Charles Ponzi

discounted postal reply coupons in other countries and to redeem them at face value in the United States at a time that inflation induced by the 1st World War made it highly lucrative to do so. In reality, Ponzi was only using funds deposited by early investors to pay later investors thereby creating the illusion of a formidable financial base to realize his grandiose investment scam.

Although the Ponzi Scheme became named

after Charles Ponzi because it became so identified with him, this swindle predated Ponzi by several years. Charles Ponziâ&#x20AC;&#x2122;s scheme ran for over a year before it collapsed, costing his â&#x20AC;&#x153;investorsâ&#x20AC;? $20 million. Ponzi may have been inspired by a similar scheme by William F. Miller, a Brooklyn bookkeeper who in 1899 used the same scheme to fleece investors of $1 million. Similarly, Charles Deville Wells, known as â&#x20AC;&#x153;The Man Who Broke the Bank

at Monte Carloâ&#x20AC;? had operated a very similar scheme in France between 1910 and 1911 where, using the alias Lucien Rivierâ&#x20AC;?, he set up a phony bank that cleaned out over 6,000 victims.

The success of the Ponzi Scheme is based on a simple strategy. Once the early investors are paid, confidence is built in the scheme.

Then the story goes round that the investment is real, that people are being paid the high interests promised. Naturally, a scramble to invest ensues. Even those that were initially skeptical become convinced and people fall over each other to reap from the fantastic money making scheme.

Even knowledgeable and responsible men and women who should ordinarily not be easily fooled join up.

They lend greater credibility to the scheme by the mere fact of their participation. The story of the fantastic gold mine continues to spread like a bush fire in the Harmattan.

Before long nearly everyone is struggling to join the scheme. The founders are overwhelmed with cash from investors from far and wide.

The next step is that they launch the exit plan and the bubble bursts.

Every get-rich-quick investment plan ALWAYS ends in a crash and collapse at one point or the other.

That is one lesson that people NEVER seem to learn from generation to generation. That, too, is understandable. The famous German Philosopher Georg Wilhelm Friedrich Hegel put it succinctly: â&#x20AC;&#x153; The only thing we learn from history is that we do not learn from historyâ&#x20AC;?. Is that true? Perhaps.

Now, to the original question that necessitated this discourse: Is MMM a Ponzi Scheme?

Quite frankly, I do not know.

- Ohia, a historian, lawyer and farmer lives in Arondizuogu

Candel Rewards Farmers with Cash, Consolation Prizes Ugo Aliogo As part of efforts to improve the welfare of farmers in the country and promote cleanliness in the environment, Candel Company Limited has rewarded farmers who have been loyal to its brand with cash and consolation prizes.

Speaking at the Candel

Clean Farms Project, â&#x20AC;&#x2DC;Be a Millionaire Promoâ&#x20AC;&#x2122; in Lagos, the Managing Director of the company, Emmanuel Kattie, said in line with global best practices, the company earlier this year launched the project as part of its drive to rid the farms of herbicides, bottles and remnants of agrochemicals, which pose significant health

hazards to the ecosystem. He noted that the clean farms project encourages farmers to return empty bottles of used candel products such as Delsate, Tackle, Phyto-General, OrizoPlus and Paraq and get financially rewarded, adding that through the process the company is not only committed to keeping the environment

clean, but also enhancing the welfare of farmers across the country.

Kattie added: â&#x20AC;&#x153;On November 30, we were witnessed the grand finale draw of the Candel Cleanfarms Project Be a Millionaire Promotion, during which the star Prize winner of the sum of 1,000,000 (One million naira) emerged

together with two tricycles and 8 generators to the delight of everyone present. â&#x20AC;&#x153;The grand finale draw which was the sixth of the monthly draws concluded the first season of the Candel Cleanfarms Be a Millionaire Promotion with a total of 61 winners, which included, 1 Star Prize winner of the sum of

N1,000,000 as earlier stated, 12 winners of brand new tricycles and 48 winners of brand new generators sets, all drawn from the six geopolitical zones of the country.

The essence of the award is to ensure that farmers behave responsibly, while ensuring their actions are environment friendly.â&#x20AC;?

Kano Making Head Way on Commercial Agriculture- Expert Ibrahim Shuaibu in Kano Senior Agricultural economist with the World Bank, Dr. Adetunji Oredipe has said that Kano under the leadership of Dr. Abdullahi Umar Ganduje was making an appreciable head way on lending credence to Commercial Agriculture in conjunction with the World Bank. Speaking to reporters on March shortly after attending a stakeholders meeting in Kano, Oredipe stated that Kano was not coming on board in the area of embracing Commercial Agriculture in recent time.

He added that with the Ganduje administration expressing considerable interest in the field the World Bank was ever ready to assist the government to succeed.

According to him, Commercial Agriculture was a lucrative business gaining ground in every part of the globe and

that Kano as a sprawling Commercial nerve centre in the West African Sub-region stood to benefit immensely from its collaboration with the World Bank in that regard.

He said with the business of Commercial Agriculture reaching fruition, the issue of creation jobs especially for the Women folk would receive a considerable face lift stressing that agriculture was almost taking the lead in ensuring food security in many countries of the world.

The World Bank Senior Agricultural Economist maintained that with the notable giant strides effected by the Ganduje administration, the issue of boosting Commercial Agriculture ought to be taken seriously expressing optimism that the state government was much expected to honour its L-R: Manage, Devices & Terminals, Etisalat, Clement Nwankwo Marketing Director, Gionee, Somoye Habeeb; Head, Value & Mass Market obligation on the issue of Segment, Etisalat, Idowu Adesokan; and Marketing Director, Gionee, Chen Bin, at the media unveiling of Gionee M6 with Etisalat 4G LTE counter-funding. held in Lagos...recently

A NEW OFFERING

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BUSINESSWORLD

DEVELOPMENT

WEF: Partnering against Corruption Initiative Abimbola Akosile examines the World Economic Forumâ&#x20AC;&#x2122;s Partnering against Corruption Initiative (PACI), which was the focus of a recent conference in Geneva, Switzerland, where the Sahara Group moved to position business integrity as an agent of sustainable development in Nigeria and globally

P

artnering against Corruption Initiative (PACI) has become the leading business voice on rebuilding trust and integrity in business towards transparency and designing corruption out of systems. It is one of the World Economic Forumâ&#x20AC;&#x2122;s communities with highly respected business organisations with cross-industry collaborative efforts.

This has created a highly visible, agenda-setting platform where business leaders, international organisations and governments can come together to address issues relating to integrity, corruption, transparency and emerging-market risks. Under the leadership of PACI Vanguard CEOs, the community is expanding rapidly and now focuses on implementing a global anti-corruption agenda.

Driven by identified needs and interests of PACI member companies, PACI undertakes initiatives to address industry, regional, country or global issues in anti-corruption and compliance.

The objective of this multi-year collaborative project (Rebuilding Trust and Integrity in Business for Transparency) is to achieve CEO-level commitment to a mutually developed framework for collective action on sector-specific priorities.

Participants at the World Economic Forum in Geneva, Switzerland Vital Objectives The aims of the initiative are to: support corporate citizenship and set the global agenda through the PACI Vanguard, a CEO-driven anti-corruption community of purpose; form targeted industry/ regional/country initiatives and collective action projects supported by the PACI Community and the PACI Task Force.

It also seeks to support large-scale transformation in the transparency and anti-corruption arena by identifying and advancing the core levers of transformation, such as B20 collective action hubs, harmonising legal frameworks, and designing efforts to increase public awareness on corruption.

Ensuring Collaboration In view of the above, PACI has identified the following areas by which it would help the collaboration between all stakeholders towards designing corruption out of systems. These include: the role of technology in transaction processes has been identified by stakeholders as increasingly important.

Others include renewed relationship between governments and the private sector, towards sharing best practices on how to rebuild trust and integrity for better transparency; and role of leadership and the tone from leaders (tone form the top) for all stakeholders towards better partnerships between all to improve the level of disconnection and distrust between institutions and civil society.

Role of Businesses Some of the ways identified by which business and institutions can play an instrumental role in addressing the course of rebuilding trust and integrity include: Globalisation: Emphasis was made on the importance of networking because corporations or governments cannot fight corruption alone. Everyone should go beyond engaging in discussion and begin to act by building more transparency on both the supply and demand side of supply chains across the globe.

Walking the Talk: There is need for corporations to walk the talk and create their voice, in showcasing their actions through more Corporate Social Responsibility (CSR) and Foundation efforts to promote transparency.

The panelists were also able to establish the role of communication in building trust and integrity. According to the panelist, businesses need to take hold of media to hone their successes making them more proactive in their approach than reactive. This will help combat the negative perception they fight and in the long run create a healthy perception in respect to trust and integrity.

Strategy & Implementation

To make the process work globally according to the PACI, actions are needed to collectively mobilise and establish long-lasting change. There is also need for creation of competition to break the sect of corrupt governance; and putting in place stronger social sanction A global platform should also step in and take actions on behalf of the emerging economy; more countries and corporations should embrace globalisation, while the WEF needs to mirror the system of the commonwealth and shared values and legal framework which will ensure equal penalties/ right legislatures for all the member states.

Sahara Intervention Sahara Group, a leading African Energy and Infrastructure Conglomerate has restated its commitment to collaborating with various stakeholders to design the menace of corruption from governance and businesses towards Rebuilding Trust and Integrity in Nigeria to boost economic growth and business sustainability.

The Sahara Group, which has power, oil and gas operations in twelve countries across four continents, made the call at the recent Geneva 2016 PACI Fall Conference which had Deloitte, ABB, Transparency International and Thompson Reuters among others in attendance.

The conference reiterated its focus on Building Trust and Integrity in Business following its huge

collaborative success with various stakeholders in Mexico in helping to design new systems in the fight for transparency and anti-corruption drive. Sahara Group led deliberations on the need to rebuilding trust and integrity in business and institutions with emphasis on Nigeria â&#x20AC;&#x201C; as partnerships between the PACI community and Nigerian stakeholders could not come at a better time than this considering its anti-corruption campaign and efforts by the current government.

The Executive Director and Co-Founder Sahara, Mr. Tonye Cole, who served as one of the panelists in the first session, spoke on Re-building Trust and Integrity in Business and Institutions and noted that there was a â&#x20AC;&#x153;palpable wind of changeâ&#x20AC;? in Nigeria that signals the preparedness of the nation to record considerable progress with its ongoing anti-corruption policies.

He stated that for success in the drive for overcoming the corruption challenges, stakeholders must adopt the following: working together by all stakeholders â&#x20AC;&#x201C; Government, Business and Civil Society â&#x20AC;&#x201C; to rebuild trust across all areas towards dealing with anti-corruption.

To him, â&#x20AC;&#x153;civil society must lay more emphasis on the act of monitoring and reporting success stories of both governments and businesses in the drive to ensuring sustainability. Governments must collaborate with the private sector who have a critical role in helping the government

identify areas with bottlenecks within the systems which leads to corruption and how government can work on these bottlenecks. â&#x20AC;&#x153;Government must take the responsibility for creating the right policies and systems that will engineer the bottlenecks identified by the private sector out the systems. Business has to create their own voice along with those who have the same shared values and interest on the need to do business in a good way thereby leading to sustainabilityâ&#x20AC;?, he added.

He stressed the need for businesses and business leaders to play a significant role in walking the talk by being role models by conducting business in a transparent manner to give hope to the future generation of businesses and business leaders.

Cole also called on the PACI Community to join the Nigeriaâ&#x20AC;&#x2122;s President Muhammadu Buhari in his drive for anti-corruption in Nigeria through sustainable initiatives. He identified two quick areas where the PACI community can help intervene by working with the government and private sector to design initiatives that will help address bottlenecks and invariably help in the revamping of the economy.

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

RANDOM THOTS Yuletide Trade One of the most enduring lessons this reporter was taught during an Economics class in the Federal GovernĂ&#x2014;Ă?Ă&#x2DC;Ă&#x17E; Ă&#x2122;Ă&#x2013;Ă&#x2013;Ă?Ă&#x2018;Ă?Ë&#x153; Ă&#x2039;Ă&#x153;Ă&#x153;Ă&#x201C;Ë&#x153; Ă?Ă&#x2013;Ă&#x17E;Ă&#x2039; Ă&#x17E;Ă&#x2039;Ă&#x17E;Ă? Ă&#x2014;Ă&#x2122;Ă&#x153;Ă? than 30 years ago was that when supĂ&#x161;Ă&#x2013;ĂŁ Ă&#x2122;Ă&#x;Ă&#x17E;ĂĄĂ?Ă&#x201C;Ă&#x2018;Ă&#x2019;Ă? Ă&#x17D;Ă?Ă&#x2014;Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă?Ă&#x2122;Ă&#x153; Ă&#x2039;Ă&#x2DC;ĂŁ Ă&#x161;Ă&#x153;Ă&#x2122;Ă&#x17D;Ă&#x;Ă?Ă&#x17E;Ë&#x153; the price of that product automatically comes down until demand picks up. Ă&#x2122;ĂĄĂ?Ă Ă?Ă&#x153;Ë&#x153; Ă&#x17E;Ă&#x2019;Ă&#x2039;Ă&#x17E; Ă?Ă?Ă?Ă&#x2DC;Ă&#x2039;Ă&#x153;Ă&#x201C;Ă&#x2122; Ă&#x2039;Ă&#x161;Ă&#x161;Ă?Ă&#x2039;Ă&#x153;Ă? Ă&#x2122;Ă&#x161;Ă&#x161;Ă&#x2122;Ă?Ă&#x201C;Ă&#x17E;Ă? Ă&#x17E;Ă&#x2122; ĂĄĂ&#x2019;Ă&#x2039;Ă&#x17E; Ă&#x2122;Ă&#x152;Ă&#x17E;Ă&#x2039;Ă&#x201C;Ă&#x2DC;Ă? Ă&#x201C;Ă&#x2DC; Ă&#x201C;Ă&#x2018;Ă?Ă&#x153;Ă&#x201C;Ă&#x2039;Ë&#x153; ĂĄĂ&#x2019;Ă?Ă&#x153;Ă? many traders try to take advantage of any economic situation to extort maximum proďŹ t from hapless buyers. Ă&#x2122;ĂĄ Ă&#x17D;Ă&#x2122;Ă?Ă? Ă&#x2122;Ă&#x2DC;Ă? Ă?âĂ&#x161;Ă&#x2013;Ă&#x2039;Ă&#x201C;Ă&#x2DC; Ă&#x17E;Ă&#x2019;Ă&#x2039;Ă&#x17E; Ă?Ă&#x2122;Ă&#x2014;Ă&#x2014;Ă&#x2122;Ă&#x2DC; Ă&#x161;Ă&#x2039;Ă&#x2013;Ă&#x2014; Ă&#x2122;Ă&#x201C;Ă&#x2013;Ë&#x153; ĂĄĂ&#x2019;Ă&#x201C;Ă?Ă&#x2019; Ă&#x201C;Ă? Ă?Ă&#x2122;Ă&#x2013;Ă&#x17D; Ă?Ă&#x2122;Ă&#x153; Í&#x2122;Í&#x2018;Í&#x2018; Ă&#x161;Ă?Ă&#x153; Ă&#x2013;Ă&#x201C;Ă&#x17E;Ă&#x153;Ă? Ă&#x2122;Ă&#x153; Í&#x2022;Ë&#x153;Í&#x2018;Í&#x2018;Í&#x2018; Ă?Ă&#x2122;Ă&#x153; Ă&#x2039; Í&#x2013;Ě&#x2039;Ă&#x2013;Ă&#x201C;Ă&#x17E;Ă&#x153;Ă? Ă&#x2018;Ă&#x2039;Ă&#x2013;Ă&#x2013;Ă&#x2122;Ă&#x2DC;Ë&#x153; Ă&#x201C;Ă? Ă?Ă&#x2122;

Ă&#x2014;Ă&#x;Ă?Ă&#x2019; Ă?Ă&#x2122;Ă?Ă&#x17E;Ă&#x2013;Ă&#x201C;Ă?Ă&#x153; Ă&#x17E;Ă&#x2019;Ă&#x2039;Ă&#x2DC; Ă&#x17D;Ă&#x201C;Ă?Ă?Ă?Ă&#x2013;Ë&#x153; Ă&#x2018;Ă&#x153;Ă&#x2122;Ă&#x;Ă&#x2DC;Ă&#x17D;Ă&#x2DC;Ă&#x;Ă&#x17E; oil or petroleum? The irony is that most palm oil products sold in Nigeria are reportedly produced and processed loĂ?Ă&#x2039;Ă&#x2013;Ă&#x2013;ĂŁË&#x153; Ă?Ă&#x2122; Ă&#x2039;Ă?Ă?Ă&#x153;Ă&#x201C;Ă&#x152;Ă&#x201C;Ă&#x2DC;Ă&#x2018; Ă&#x2039;Ă&#x2DC;ĂŁ Ă?Ă&#x153;Ă&#x2039;Ă&#x;Ă&#x17D;Ă&#x;Ă&#x2013;Ă?Ă&#x2DC;Ă&#x17E; Ă&#x153;Ă&#x201C;Ă?Ă? Ă&#x201C;Ă&#x2DC; palm oil price to the ďŹ&#x201A;uctuations in the dollar rate smacks of crass opportunism. What of the 100 per cent increase in the cost of rice even though more than 14 States are currently producing and processing rice products around Ă&#x17E;Ă&#x2019;Ă? Ă?Ă&#x2122;Ă&#x;Ă&#x2DC;Ă&#x17E;Ă&#x153;ĂŁËŁ Ă?Ă?Ë&#x153; Ă&#x17E;Ă&#x2019;Ă? Ă?Ă?Ă&#x2122;Ă&#x2DC;Ă&#x2122;Ă&#x2014;ĂŁ Ă&#x201C;Ă? Ă&#x201C;Ă&#x2DC; Ă&#x2039; Ă&#x153;Ă?Ă?Ă?Ă?Ă?Ă&#x201C;Ă&#x2122;Ă&#x2DC;Ë&#x153; Ă&#x152;Ă&#x;Ă&#x17E; Ă&#x17E;Ă&#x2019;Ă? Ă&#x2039;Ă&#x2DC;Ă&#x17E;Ă&#x201C;Ă?Ă? Ă&#x2122;Ă? Ă?Ă&#x2122;Ă&#x2014;Ă? Ă&#x17E;Ă&#x153;Ă&#x2039;Ă&#x17D;ers in the name of an extra buck are simply unbelievable. Ă&#x2122;ĂĄĂ?Ă Ă?Ă&#x153;Ë&#x153; Ă&#x17E;Ă&#x2019;Ă?Ă&#x153;Ă? Ă&#x201C;Ă? Ă&#x2039; Ă&#x17E;ĂĄĂ&#x201C;Ă?Ă&#x17E; Ă?Ă?Ă&#x161;Ă?Ă?Ă&#x201C;Ă&#x2039;Ă&#x2013;Ă&#x2013;ĂŁ Ă&#x201C;Ă&#x2DC;

Ă&#x17E;Ă&#x2019;Ă&#x201C;Ă? Ă&#x;Ă&#x2013;Ă?Ă&#x17E;Ă&#x201C;Ă&#x17D;Ă? Ă&#x161;Ă?Ă&#x153;Ă&#x201C;Ă&#x2122;Ă&#x17D;Ë&#x153; ĂĄĂ&#x2019;Ă?Ă&#x153;Ă? Ă&#x161;Ă&#x153;Ă&#x2122;Ă&#x17D;Ă&#x;Ă?Ă&#x17E; prices are usually expected to soar due to anticipated huge demand by Ă&#x2019;Ă&#x153;Ă&#x201C;Ă?Ă&#x17E;Ă&#x2014;Ă&#x2039;Ă? Ă?Ă&#x2019;Ă&#x2122;Ă&#x161;Ă&#x161;Ă?Ă&#x153;Ă?Ë&#x203A; Ă&#x2039;Ă&#x2DC;ĂŁ Ă?Ă&#x201C;Ă&#x17E;Ă&#x201C;äĂ?Ă&#x2DC;Ă? are not buying food and other items as Ă?âĂ&#x161;Ă?Ă?Ă&#x17E;Ă?Ă&#x17D;Ë&#x153; Ă?Ă&#x2122;Ă&#x153; Ă&#x2122;Ă&#x152;Ă Ă&#x201C;Ă&#x2122;Ă&#x;Ă? Ă&#x153;Ă?Ă&#x2039;Ă?Ă&#x2122;Ă&#x2DC;Ă? Ă&#x153;Ă&#x2039;Ă&#x2DC;Ă&#x2018;Ă&#x201C;Ă&#x2DC;Ă&#x2018; from low cash to belt-tightening.

The bottom line is: some buyers are not buying and the traders are Ă&#x2DC;Ă&#x2122;Ă&#x17E; Ă&#x2019;Ă&#x2039;Ă&#x161;Ă&#x161;ĂŁË&#x203A; Ă&#x2122;ĂĄĂ?Ă Ă?Ă&#x153; Ă?ĂŁĂ&#x2DC;Ă&#x201C;Ă?Ă&#x2039;Ă&#x2013; Ă&#x201C;Ă&#x17E; Ă&#x2014;Ă&#x2039;ĂŁ Ă?Ă&#x2122;Ă&#x;Ă&#x2DC;Ă&#x17D;Ë&#x153; Ă&#x201C;Ă&#x17E; Ă?Ă?Ă?Ă&#x2013;Ă? Ă&#x2018;Ă&#x2122;Ă&#x2122;Ă&#x17D; Ă&#x17E;Ă&#x2122; Ă?Ă?Ă? Ă?Ă&#x2122;Ă&#x2014;Ă? Ă&#x2122;Ă? these selďŹ sh traders being disappointed. This should be a season of goodwill and not of ill willâ&#x20AC;Ś..not so?

-Abimbola Akosile

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T H I S D AY Ëž Ë&#x153; Í°Í°Ë&#x153; Í°ÍŽÍŻÍ´

Ëš

Housing estates are fixed assets; some owned by individuals

Can Assets Declaration Help Curb Corruption?

Although President Muhammadu Buhari and his vice publicly declared their assets when they assumed power in 2015, some cabinet members and senior government officials in the three arms of government did not. Analysts believe the public declaration of assets by these government officials â&#x20AC;&#x201C; both when taking and leaving public office â&#x20AC;&#x201C; will help curb official corruption in Nigeria and prevent siphoning of commonwealth resources to foreign accounts. However, others believe potential looters will only become more creative concerning assets declaration. To you, can public declaration of assets help curb corruption in Nigeria?

Abimbola Akosile * I aver that public declaration of assets can help curb corruption in Nigeria. It will enormously boost public confidence in our political leaders and also aid in Nigeriaâ&#x20AC;&#x2122;s socio-economic growth. President Buhari must make sure that his word is his bond by mandating the ministers in his cabinet to publicly declare their assets as he promised.

Not doing so is also corruption. Change should truly begin with his ministers also.

God bless Nigeria.

- Ambassador Saviola O. Godwyn, Abia State * Yes, it can. Many who go into government service do not have the real mindset or aim of looting the countryâ&#x20AC;&#x2122;s treasury. Indicted looters must therefore prove their innocence or face the law for true leadership and service.

Although PMB and his Vice declared their assets publicly, many Nigerian public office holders will refuse blatantly to obey this Code of Conduct Bureau (CCB) order due to their fraudulent tendencies. For instance, our ministersâ&#x20AC;&#x2122; flagrant refusal to declare their assets call for deep concern amidst rampant corruption challenges nationwide.

Prevalent siphoning of the common wealth resources to foreign accounts is cancerous and unacceptable. Perpetrators may thwart government efforts by manipulating the law to their selfish advantage. All we need to do now is to call a spade a spade and never bend the rules. Corruption will be stemmed or curbed. Tax evaders must be checked and brought to book urgently and without fear or favour. All culprits must be appropriately punished to deter others.

- Miss Apeji Patience Eneyeme, Badagry, Lagos * Not as it is done presently in Nigeria, Nigerian public officials declare their assets in anticipation of what they expect to steal from the public till while in office. Assets declaration must be done effectively where the assets of the individual must be assessed before and after the individual leaves office.

- Mr. Utibe Uko, Uyo, Akwa Ibom State * All the political appointees and elected ones should declare their assets as PMB and his Vice did; unless the politicians have negative motives not to declare their assets for them to steal tax-payers money. Nigerians and civil society groups should protest against

THE FEEDBACK Yes, it can curb corruption:

5

No, it canâ&#x20AC;&#x2122;t curb corruption:

2

Others:

4

Radical tip:

Sack oďŹ&#x20AC;enders!

Total no of respondents:

11

Male:

8

Female:

3

Highest location:

Lagos (5)

non-declaration of assets before assuming office. The Code of Conduct Bureau (CCB) should not leave any stone unturned to prosecute any politician who fails to declare his or her assets for betterment of Nigeria.

Politicians must abide by the law of the land irrespective of their positions in the society.

Assets declaration is necessary to check fraud.

- Mrs. Ijeoma Nnorom, Lagos State * Assets declaration is supposed to be an oath-taking or making by someone who is proud of what God has blessed that person with in his or her life. The corruption that has eaten deeply into our lives has made us to be nothing but liars. In fact, whoever you are today in Nigeria, nobody takes you seriously no matter your status, and that is even within us, not the world in general. I believe those who invented that programme have their good purpose but for bad people.

- Hon. Babale Maiungwa, U/Romi, Kaduna * Asset declaration will not help curb corruption issues because even if discrepancies are found, our justice system is incapable of securing a conviction and no one wants that on their record. You are considered a convict, you lose the right to contest elections and trials are speedily concluded. Countries that have very little corruption use plea bargaining and it hasnâ&#x20AC;&#x2122;t encouraged corruption. When justice is done, it brings joy to the righteous but terror to evil-doers (Proverbs 21:15).

- Mr. Buga Dunj, Jos, Plateau State * Yes, asset declaration will ensure full monitoring of all wealth acquisition processes, procedures, methodology, when, where, how,

why, purpose, motive, e.t.c. and so check corruption promptly and adequately. Nigerian criminals are always one step ahead of security; therefore we must manage available information diligently, thereby acting aptly with total honesty and patriotism. Advanced climes are already doing this routinely and so avoid any fraudulent breaches of any sort therefrom. PMB has taken the lead, other citizens must take a cue or follow suit. God bless Nigeria.

- Mr. Apeji Onesi, Lagos State

reference and any variation while the subject is declaring his or her assets is immediately spotted, with an accompanying sanction for false declaration. Public officials should be like gold fish in a clear jar of water, with no secrets or hiding place to stash looted funds.

And for those ministers who refuse to heed CCBâ&#x20AC;&#x2122;s call, PMB should fire them promptly and hand them over for prosecution by the EFCC or the DSS. Let us be proactive in our governance process.

- Mr. Olumuyiwa Olorunsomo, Lagos State

* Contemporary examples are glaring that have to be investigated, as most of our leaders do project ahead, before submitting their forms in anticipating income from whatever source. Nothing will be done except proper investigations are carried out immediately on submission of completed forms, or a corrupt judge adjudicating over another corrupt judge as the case now. Just like budgeting without executing what was budgeted for, especially at the end of each financial year - virement are the syndrome, as the money will remain in the head - sub-head unspent. It is said we have not prepared our hearts to seek the law, do it, and to teach Nigerians by actions faithfully.

- Mr. Dogo Stephen, Kaduna

* It actually should but Nigerians are die-hards and very innovative, smart and seasoned in the business of corruption. Therefore, asset declaration is not enough to curb official corruption in our nation.

- Miss Nkeiruka Abanna, Lagos

* In every good human relation, any good suggestion should be a way out, but in the case of Nigeria, we donâ&#x20AC;&#x2122;t adhere to rules and laws. If assets declaration becomes the norm, will Nigeriaâ&#x20AC;&#x2122;s political leaders be sincere and obey it to the letter? Donâ&#x20AC;&#x2122;t be surprised those that work with both Code of Conduct Bureau and those in charge of assets can compromise the position; thereby aiding and abetting what they came to fight.

I am afraid if assets declaration will reduce corruption in Nigeria.

- Mr. Okechukwu Ikonne, Mbaise, Imo State * Although declaration of assets will help curb corruption among public office holders in Nigeria, the final solution is rather simpler.

As being done in advanced countries, anyone with a plan to hold public office or even nominated is put under the microscope to determine if he or she is fit for purpose as a potential public official in all ways. In the process of subtle investigation of all such would-be public office holders, all their assets are researched and catalogued for future

Next Week: Your Ideal New Year Devt Gift from PMB? Ă?Ă&#x201C;Ă&#x17D;Ă? Ă&#x17E;Ă&#x2019;Ă? Ă&#x2122;Ă&#x2DC;Ă&#x2018;Ă&#x2122;Ă&#x201C;Ă&#x2DC;Ă&#x2018; Ă&#x2039;Ă&#x2DC;Ă&#x17E;Ă&#x201C;Ě&#x2039;Ă?Ă&#x2122;Ă&#x153;Ă&#x153;Ă&#x;Ă&#x161;Ă&#x17E;Ă&#x201C;Ă&#x2122;Ă&#x2DC; Ă&#x161;Ă&#x153;Ă&#x2122;Ă?Ă?Ă?Ă&#x17D;Ă&#x201C;Ă&#x2DC;Ă&#x2018;Ă? Ă&#x2039;Ă&#x2018;Ă&#x2039;Ă&#x201C;Ă&#x2DC;Ă?Ă&#x17E; Ă?Ă&#x2122;Ă&#x2014;Ă? Ă&#x201D;Ă&#x;Ă&#x17D;Ă&#x2018;Ă?Ă?Ë&#x17E; Ă&#x2039; Ă&#x2019;Ă&#x2122;Ă&#x161;Ă?Ă?Ă&#x;Ă&#x2013; Íľ Ă&#x17E;Ă&#x153;Ă&#x201C;Ă&#x2013;Ă&#x2013;Ă&#x201C;Ă&#x2122;Ă&#x2DC; Ă&#x161;Ă&#x153;Ă&#x2122;Ă&#x161;Ă&#x2122;Ă?Ă?Ă&#x17D; Í°ÍŽÍŻÍľ Ă&#x152;Ă&#x;Ă&#x17D;Ă&#x2018;Ă?Ă&#x17E;Ë&#x153; Ă&#x2039;Ă&#x2DC; Ă&#x;Ă&#x161;Ă?Ă&#x;Ă&#x153;Ă&#x2018;Ă? Ă&#x201C;Ă&#x2DC; Ă&#x2039;Ă&#x2018;Ă&#x153;Ă&#x201C;Ă?Ă&#x;Ă&#x2013;Ă&#x17E;Ă&#x;Ă&#x153;Ă&#x2039;Ă&#x2013; Ă&#x161;Ă&#x153;Ă&#x2122;Ă&#x17D;Ă&#x;Ă?Ă&#x17E;Ă&#x201C;Ă Ă&#x201C;Ă&#x17E;ĂŁË&#x153; Ă&#x152;Ă?Ă&#x17E;Ă&#x17E;Ă?Ă&#x153; Ă&#x201C;Ă&#x2DC;Ă&#x17E;Ă?Ă&#x153;Ă&#x2DC;Ă&#x2039;Ă&#x17E;Ă&#x201C;Ă&#x2122;Ă&#x2DC;Ă&#x2039;Ă&#x2013; Ă?Ă&#x153;Ă&#x;Ă&#x17D;Ă? Ă&#x2122;Ă&#x201C;Ă&#x2013; Ă&#x161;Ă&#x153;Ă&#x201C;Ă?Ă?Ă? Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă&#x2039; Ă&#x161;Ă&#x153;Ă?Ă?Ă&#x201C;Ă&#x17D;Ă?Ă&#x2DC;Ă&#x17E;Ă&#x201C;Ă&#x2039;Ă&#x2013; Ă&#x17D;Ă&#x201C;Ă&#x153;Ă?Ă?Ă&#x17E;Ă&#x201C;Ă Ă? Ă&#x17E;Ă&#x2122; Ă&#x161;Ă&#x153;Ă&#x2122;Ă&#x152;Ă? Ă?Ă&#x2122;Ă&#x2014;Ă? Ă&#x17E;Ă&#x2122;Ă&#x161; Ă&#x2122;Ă?Ă?Ă&#x201C;Ă?Ă&#x201C;Ă&#x2039;Ă&#x2013;Ă? Ă&#x201C;Ă&#x2DC; Ă&#x17E;Ă&#x2019;Ă? Ă?Ă&#x;Ă&#x153;Ă&#x153;Ă?Ă&#x2DC;Ă&#x17E; Ă&#x2039;Ă&#x17D;Ă&#x2014;Ă&#x201C;Ă&#x2DC;Ă&#x201C;Ă?Ă&#x17E;Ă&#x153;Ă&#x2039;Ă&#x17E;Ă&#x201C;Ă&#x2122;Ă&#x2DC;Ë&#x153; Ă&#x201C;Ă&#x2018;Ă?Ă&#x153;Ă&#x201C;Ă&#x2039;Ă&#x2DC;Ă? Ă?Ă&#x17E;Ă&#x201C;Ă&#x2013;Ă&#x2013; Ă?âĂ&#x161;Ă?Ă?Ă&#x17E; Ă&#x2014;Ă&#x;Ă?Ă&#x2019; Ă&#x2014;Ă&#x2122;Ă&#x153;Ă? Ă?Ă&#x153;Ă&#x2122;Ă&#x2014; Ă&#x153;Ă?Ă?Ă&#x201C;Ă&#x17D;Ă?Ă&#x2DC;Ă&#x17E; Ă&#x;Ă&#x2019;Ă&#x2039;Ă&#x2014;Ă&#x2014;Ă&#x2039;Ă&#x17D;Ă&#x; Ă&#x;Ă&#x2019;Ă&#x2039;Ă&#x153;Ă&#x201C; Ě&#x2122; Ě&#x161; Ă&#x17E;Ă&#x2122; Ă&#x2039;Ă?Ă&#x17E;Ă&#x;Ă&#x2039;Ă&#x2013;Ă&#x2013;ĂŁ Ă&#x161;Ă&#x153;Ă&#x2039;Ă?Ă&#x17E;Ă&#x201C;Ă?Ă&#x2039;Ă&#x2013;Ă&#x201C;Ă?Ă? Ă&#x17E;Ă&#x2019;Ă? Ă?Ă&#x2019;Ă&#x2039;Ă&#x2DC;Ă&#x2018;Ă? Ă&#x2019;Ă? Ă&#x161;Ă&#x153;Ă&#x2122;Ă&#x2014;Ă&#x201C;Ă?Ă?Ă&#x17D; Ă&#x2122;Ă&#x2DC; Ă&#x2039;Ă?Ă?Ă&#x;Ă&#x2014;Ă&#x201C;Ă&#x2DC;Ă&#x2018; Ă&#x161;Ă&#x2122;ĂĄĂ?Ă&#x153; Ă&#x201C;Ă&#x2DC; Í°ÍŽÍŻÍłË&#x203A; Ă? Í°ÍŽÍŻÍľ Ă&#x152;Ă?Ă&#x2018;Ă&#x201C;Ă&#x2DC;Ă? Ă&#x201C;Ă&#x2DC; Ă&#x2039; Ă?Ă?ĂĄ Ă&#x17D;Ă&#x2039;ĂŁĂ?Ë&#x153; ĂĄĂ&#x2019;Ă&#x2039;Ă&#x17E; Ă&#x201C;Ă?ËšĂ&#x2039;Ă&#x153;Ă? ĂŁĂ&#x2122;Ă&#x;Ă&#x153; Ă&#x201C;Ă&#x17D;Ă?Ă&#x2039;Ă&#x2013; Ă?ĂĄ Ă?Ă&#x2039;Ă&#x153; Ă&#x2018;Ă&#x201C;Ă?Ă&#x17E;ËšĂ? Ă?Ă&#x153;Ă&#x2122;Ă&#x2014; Ă&#x17E;Ă&#x2019;Ă? Ă&#x161;Ă&#x153;Ă?Ă?Ă&#x201C;Ă&#x17D;Ă?Ă&#x2DC;Ă&#x17E; Ă&#x201C;Ă&#x2DC; Ă&#x2039; Ă&#x152;Ă&#x201C;Ă&#x17D; Ă&#x17E;Ă&#x2122; Ă?Ă&#x2DC;Ă?Ă&#x;Ă&#x153;Ă? Ă&#x17D;Ă?Ă?Ă&#x201C;Ă&#x153;Ă?Ă&#x17D; Ă&#x2122;Ă Ă?Ă&#x153;Ă&#x2039;Ă&#x2013;Ă&#x2013; Ă&#x17D;Ă?Ă Ă?Ă&#x2013;Ă&#x2122;Ă&#x161;Ă&#x2014;Ă?Ă&#x2DC;Ă&#x17E;ËŁ Ă&#x2013;Ă?Ă&#x2039;Ă?Ă? Ă&#x2014;Ă&#x2039;Ă&#x2022;Ă? ĂŁĂ&#x2122;Ă&#x;Ă&#x153; Ă&#x153;Ă?Ă?Ă&#x161;Ă&#x2122;Ă&#x2DC;Ă?Ă? Ă&#x17D;Ă&#x201C;Ă&#x153;Ă?Ă?Ă&#x17E;Ë&#x153; Ă?Ă&#x2019;Ă&#x2122;Ă&#x153;Ă&#x17E; Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă?Ă&#x201C;Ă&#x2014;Ă&#x161;Ă&#x2013;Ă?Ë&#x153; Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă?Ă&#x17E;Ă&#x2039;Ă&#x17E;Ă? ĂŁĂ&#x2122;Ă&#x;Ă&#x153; Ă?Ă&#x;Ă&#x2013;Ă&#x2013; Ă&#x2DC;Ă&#x2039;Ă&#x2014;Ă?Ë&#x153; Ă&#x17E;Ă&#x201C;Ă&#x17E;Ă&#x2013;Ă?Ë&#x153; Ă&#x2122;Ă&#x153;Ă&#x2018;Ă&#x2039;Ă&#x2DC;Ă&#x201C;Ă?Ă&#x2039;Ă&#x17E;Ă&#x201C;Ă&#x2122;Ă&#x2DC;Ë&#x153; Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă&#x2013;Ă&#x2122;Ă?Ă&#x2039;Ă&#x17E;Ă&#x201C;Ă&#x2122;Ă&#x2DC;Ë&#x203A; Ă?Ă?Ă&#x161;Ă&#x2122;Ă&#x2DC;Ă?Ă?Ă? Ă?Ă&#x2019;Ă&#x2122;Ă&#x;Ă&#x2013;Ă&#x17D; Ă&#x152;Ă? Ă?Ă?Ă&#x2DC;Ă&#x17E; Ă&#x152;Ă?Ă&#x17E;ĂĄĂ?Ă?Ă&#x2DC; Ă&#x17E;Ă&#x2122;Ă&#x17D;Ă&#x2039;ĂŁ Ě&#x2122; Ă?Ă?Ă?Ă&#x2014;Ă&#x152;Ă?Ă&#x153; Í°Í° Ęś Ă&#x2122;Ă&#x2DC;Ă&#x17D;Ă&#x2039;ĂŁË&#x153; Ă?Ă?Ă?Ă&#x2014;Ă&#x152;Ă?Ă&#x153; Í°Í´Ě&#x161; Ă&#x17E;Ă&#x2122; abimbolayi@ yahoo.com, greatbimbo@gmail.comË&#x153; Ă&#x2039;Ă&#x152;Ă&#x201C;Ă&#x2014;Ă&#x152;Ă&#x2122;Ă&#x2013;Ă&#x2039;Ë&#x203A;Ă&#x2039;Ă&#x2022;Ă&#x2122;Ă?Ă&#x201C;Ă&#x2013;Ă?ĚśĂ&#x17E;Ă&#x2019;Ă&#x201C;Ă?Ă&#x17D;Ă&#x2039;ĂŁĂ&#x2013;Ă&#x201C;Ă Ă?Ë&#x203A; Ă?Ă&#x2122;Ă&#x2014;Ë&#x203A; Ă?Ă?Ă&#x161;Ă&#x2122;Ă&#x2DC;Ă&#x17D;Ă?Ă&#x2DC;Ă&#x17E;Ă? Ă?Ă&#x2039;Ă&#x2DC; Ă&#x2039;Ă&#x2013;Ă?Ă&#x2122; Ă?Ă?Ă&#x2DC;Ă&#x17D; Ă&#x2039; Ă?Ă&#x2019;Ă&#x2122;Ă&#x153;Ă&#x17E; Ă&#x17E;Ă?âĂ&#x17E; Ă&#x2014;Ă?Ă?Ă?Ă&#x2039;Ă&#x2018;Ă? Ă&#x17E;Ă&#x2122; 08023117639 Ă&#x2039;Ă&#x2DC;Ă&#x17D;ËšĂ&#x2122;Ă&#x153; 08188361766 Ă&#x2039;Ă&#x2DC;Ă&#x17D;ËšĂ&#x2122;Ă&#x153; 08114495306Ë&#x203A; Ă&#x2122;Ă&#x2013;Ă&#x2013;Ă&#x2039;Ă&#x17E;Ă?Ă&#x17D; Ă&#x153;Ă?Ă?Ă&#x161;Ă&#x2122;Ă&#x2DC;Ă?Ă?Ă? ĂĄĂ&#x201C;Ă&#x2013;Ă&#x2013; Ă&#x152;Ă? Ă&#x161;Ă&#x;Ă&#x152;Ă&#x2013;Ă&#x201C;Ă?Ă&#x2019;Ă?Ă&#x17D; Ă&#x2122;Ă&#x2DC; Ă&#x2019;Ă&#x;Ă&#x153;Ă?Ă&#x17D;Ă&#x2039;ĂŁË&#x153; Ă?Ă?Ă?Ă&#x2014;Ă&#x152;Ă?Ă&#x153; Ͱ͡

34

T H I S D AY Ëž Ë&#x153; Í°Í°Ë&#x153; Í°ÍŽÍŻÍ´

BUSINESSWORLD

DEVELOPMENT

Community development; free train service in Osun State

WACSOF: Nigerians Make up More of 750,000 Stateless West Africans Chineme Okafor in Abuja The West African Civil Society Forum (WACSOF) has said that by virtue of Nigeriaâ&#x20AC;&#x2122;s population and emergence of insurgency in the North East in 2009, the country currently contributes more to the 750,000 people that the United Nations High Commission for Refugees (UNHCR) said are without legal bond to any state in the West African region.

Speaking in Abuja during the recent launch of the outcome of its mapping of stateless persons

and persons at risk of statelessness in North Eastern states of Nigeria, the Acting General Secretary of WACSOF, Auwal Ibrahim Musa aka Rafsanjani, stated that currently, there are no specific data on how many Nigerians have been rendered stateless by the Boko Haram insurgency in the North East, but that the number was huge.

Musa explained that even though the UNHCR captured 750,000 people of the West African origin to be stateless, Nigeriaâ&#x20AC;&#x2122;s contribution to the number is reportedly more on

account of the internal strife she is currently contending with.

He said apart from the Boko Haram, other internal insurrections in other parts of the country like the Biafra agitation in the South East, the Fulani cattle herdersâ&#x20AC;&#x2122; challenges majorly in the North Central, and militancy in the Niger Delta, and displacement of indigenes of Bakassi peninsula in Cross River were contributors to the situation.

According to him, the survey, which was done with support from UNHCR, identified that

with the return of Nigeria to democracy in 1999, statelessness became an apparent national issue with clear evidences.

He also explained that through the survey conducted, many more people were at the risk of statelessness, adding that Nigeriaâ&#x20AC;&#x2122;s current constitution has done very little to protect such people from becoming completely stateless. â&#x20AC;&#x153;The UNHCR estimated that about 10 million people in the world have no legal bond with any state and 750,000 of this population live in the 15 West

African states. These individuals referred to as stateless continue to suffer denial of their human rights as possession of nationality is a prerequisite for basic political, economic and civil rights,â&#x20AC;? said Musa.

He noted: â&#x20AC;&#x153;As it is now, there is no variable data to state how many persons are stateless in Nigeria, and that is why this research is aimed at mapping out the number of persons that are actually stateless in Nigeria, and currently the National Bureau of Statistics does not have this data, and

we are encouraging them to do that. â&#x20AC;&#x153;In fact, the contribution of Nigeria to the 750,000 stateless persons in West Africa is more.

Even the number of people that have been impacted by the insurgency in the North East, or the Bakassi issue in Cross River State speaks of this. There are also so many denials that exist. The girls that Boko Haram kidnapped and impregnated, their children are not recognised because Boko Haram said they are not part of Nigeria,â&#x20AC;? he added.

CSO Advisory Committee Hails Initiatives against Corruption in Nigeria Abimbola Akosile The Civil Society (CSO) Advisory Committee for the European Union (EU) funded Project, â&#x20AC;&#x2DC;Support to Anti-Corruption in Nigeriaâ&#x20AC;&#x2122; has commended various anticorruption efforts undertaken over the last one year, and observed that significant progress was made while successes were recorded on several fronts in the war against corruption during the year.

In a statement signed by the Chairman, CSO Advisory Committee, Mr. Olanrewaju Suraj, which was issued in Abuja at the end of their final meeting for 2016 where they took stock of activities and initiatives undertaken under the project as well as by other actors, the group of civil society organisations (CSOs) expressed

satisfaction with the pace of implementation of the project and achievements recorded so far.

Assessing the progress in the implementation of the project, the Committee noted that 150 civil society representatives were trained and prepared for participation in the projectâ&#x20AC;&#x2122;s grants process while a number of those trained prepared resultoriented proposals and were ultimately selected for the award of grants.

According to the details provided at the meeting, 10 grantees were selected by the Grant Award Committee from among CSOs that responded to the call for proposals under the project and were awarded grants to conduct anti-corruption activities in various parts of the country and across different sectors and

stakeholder groups, while the successful grantee organisations are being supported to implement the anti-corruption activities highlighted in their grants applications.

The project also facilitated engagements between participating CSOs and the Presidential Advisory Committee (PACAC), as a result of which the CSO Technical Group was able to continue aligning its activities with the objectives of the PACAC. The project supported the training of representatives of CSOs as public procurement monitors to enable them perform their role of monitoring procurement process as stated in the Public Procurement Act, 2007.

The training led to the signing of a Memorandum of Understanding between the Bureau of Public Procurement

(BPP) and the CSOs as well as an agreement on Terms of Reference to define their respective roles. The CSOs have also expressed their readiness and commitment to work in cooperation and partnership with the BPP. It (project) supported engagements between the participating CSOs and relevant committees of the National Assembly to promote the critical role of the Legislature in combating financial crimes; to afford the Committee members the opportunity to acquire in-depth knowledge of relevant Bills for combating corruption and financial crimes which are currently pending at the National Assembly; and to engender synergy between the Legislature and the CSOs. The engagements resulted in a call to the Attorney-General

of the Federation (AGF), Mr. Abubakar Malami (SAN), to withdraw the proposed Money Laundering (Prevention and Prohibition) Bill, 2016 and substitute it with a Bill to amend the existing legal regime on money laundering.

Members of the National Assembly in attendance during the engagements, also committed to ensuring the passage of the Mutual Legal Assistance in Criminal Matters Bill, 2016 before the end of year 2016.

Other outcomes of the stocktaking exercise include the fact that the project is conducting a mapping exercise to identify CSOs with Anti-Corruption mandates throughout the country and to document their strengths and weaknesses; as well as the fact that the project has produced and distributed about 2,000 Anti-Corruption

outreach materials which have contributed to the visibility for the Anti-Corruption crusade and the project.

It was noted that four meetings of the CSO Advisory Committee were held during the year, 2016, and that the meetings continue to contribute to the alignment of the activities articulated under Outcome 3 and the overall strategic objectives of the project.

The Committee welcomed the development of a National Action Plan (NAP) for Nigeria within the framework of the Open Government Partnership (OGP) with strong AntiCorruption commitments and components. It also pledged to support the OGP initiative and to work with government agencies and civil society partners to ensure the realisation of the commitments.

35

T H I S D AY Ëž Ë&#x153; Í°Í°Ë&#x153; Í°ÍŽÍŻÍ´

BUSINESSWORLD

DEVELOPMENT QUOTE OF THE WEEK

â&#x20AC;&#x153;We must reduce the demand for foreign exchange by producing as much as possible of what we need in Nigeria; from refined petroleum products to textiles, clothing and most of our food items. But we will continue to need imported items so we must increase the supply of foreign exchange, by tweaking some of our policies to make them more investor friendly, and by creating the right incentives for non-oil exportsâ&#x20AC;?

- MINISTER OF BUDGET AND PLANNING, SENATOR UDOMA UDO UDOMA, SPEAKING IN ABUJA

Plateau Partners GIZ, European Union to Boost Business at Grassroots Seriki Adinoyi in Jos

CSR: Nestle Unveils Water Facility for Maderegi Residents Maryann Abii in Abuja The Country Business Manager, Nestle Waters Nigeria, Mr. Jason Lambe, has unveiled a new water facility to serve Maderegi village and its environs in Abaji Area Council of the Federal Capital Territory (FCT).

Speaking at the unveiling ceremony, recently, Lambe, said the new facility, which is part of the companyâ&#x20AC;&#x2122;s Corporate Social Responsibility (CSR), will provide access to safe and clean drinking water for 1,000 villagers.

According to him, local communities play important roles in assisting the company achieve its objectives in its long years of operations in the country. The new facility, he said, is Nestle Watersâ&#x20AC;&#x2122; second community water facility in the country, adding that the first one is located in Agbara, Ogun State, South-west of the country.

On its contribution to healthy hydration, he said: â&#x20AC;&#x153;We are committed to helping people lead healthier lives as water is surely the best way to fulfill daily hydration needs. We have pledged globally to water stewardship in an effort to adopt sustainable water practices, especially in areas where we source our goods, where our factories are located and where our consumers and suppliers live.â&#x20AC;?

Also, as part of its commitment to water stewardship, Nestle has partnered the project WET foundation, a non-governmental organisation (NGO) to develop hydration teaching modules aimed at raising awareness about the importance of proper hydration to children.

He said the company earlier in the year, launched project WET in 25 schools in Abaji to help teachers raise aware about wearer conservation and proper hydration among school children.

According to him, 1,200 pupils and 75 teachers were impacted in Abaji, while in

Water provision, crucial for overall development 2016, 8000 students, 330 teachers in 140 schools, in Lagos, Ogun Osun and Abaji benefitted from the programme.

The Permanent Secretary, Ministry of Water Resources, Mrs. Rabi Jimeta, who was represented by the Director of Hydrology, Mr. John Ochigbo, said government appreciates Nestleâ&#x20AC;&#x2122;s efforts in its Corporate Social Responsibility (CSR) through its setting up of water facilities in different parts of the country.

According to her, studies have proven that Nigeria has estimated water resource potential of over 375 billion cubic metres.

She said the vast quantities of the countryâ&#x20AC;&#x2122;s

water resources are held in the small and large dams that if well utilised will provide reliable and affordable hydro-electricity, job creation opportunities, food productivity and will in turn improve the quality of lives of Nigerians.

Jimeta said: â&#x20AC;&#x153;You will agree with me that the present economic recession is negatively impacting on the governmentâ&#x20AC;&#x2122;s capacity to achieve her vision for infrastructural development due to the dwindling revenue. It is against this backdrop that government seeks partnership with the private sector in the provision of services for every Nigerian.â&#x20AC;?

In a bid to confront current economic recession on all fronts, Plateau state Governor, Mr. Simon Lalong has said his administration is taking the advantage of the return of peace in the state to provide an enabling environment in the rural communities to boost business activities among the grassroots.

Lalong, who stated this during the recent official launch of the stateâ&#x20AC;&#x2122;s local governmentsâ&#x20AC;&#x2122; business environment scorecard, titled â&#x20AC;&#x2DC;Deepening Economic Development for Peace and Stability in Plateau stateâ&#x20AC;&#x2122;, funded by the European Union (EU), and implemented by the Deutsche Gesellschaft fur Internationale (GIZ).

The governor, who was represented by his Commissioner for Local government and Chieftaincy Affairs, Hon. Dayyabu Garga, said the state government would continue to partner all professional bodies in the country and beyond to achieve sustainable development in the state.

He said, â&#x20AC;&#x153;We know that without peace, business would not grow, and that is why when we came on board last year we first worked towards tackling insecurity; we worked tirelessly to ensure that peace was restored to our state knowing that it is only in such atmosphere of peace that business can thrive in any community. â&#x20AC;&#x153;Our administration will continue to ensure that business in Plateau thrives, and that was why we also ensured that applicants in the state are no longer denied land titles for their properties like it used to be in the past; this is to encourage them to register their land titles.â&#x20AC;?

Also speaking at the occasion, the lead consultant of the stateâ&#x20AC;&#x2122;s local government Business Environment Scorecard, Nde Ezekiel Gomos, said the project was a novel one, which has been crafted along the World Bank Annual Doing Business reports aimed at examining the quality of business environment by measuring the ease of doing business in about 200 countries of the world.

Gomos said, â&#x20AC;&#x153;The goal is to enhance business enabling environment through self-awareness of local regulatory and economic governanceâ&#x20AC;?, adding that â&#x20AC;&#x153;we were able to sensitise and create awareness among stakeholders in the LGA.â&#x20AC;?

He added that Plateau is the first state in the country to embark on the project, adding that of all the 17 local government areas in the states Shendam local government is rated the most business viable. Jos South was among the councils adjudged to be the least viable because of its vulnerability to crises.

Plateau State, which has always been tagged a peaceful state with one of the best climate patterns in Nigeria, has been rocked by indigenesettler conflicts for some years and during past administrations. But the present administration has made the issue of peace a focal point for its growth and development strategy.

Also, rural development has been described as a crucial take-off point in the development strategy of any nation, with more than 60 per cent of Nigerian citizens still living in the rural areas across the country. The belief is that when the rural areas and grassroots are adequately developed, this will help check rural-urban drift or migration and reduce the pressure on the urban areas.

36

T H I S D AY THURSDAY, DECEMBER 22, 2016

HEALTH & LIFESTYLE

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

Drawbacks of Nigeria’s Health Sector Incessant strikes by doctors and health workers, medical tourism, low budgetary allocations, brain drain, poor research culture and a host of other issues have been identified by experts as major drawbacks for Nigeria’s healthcare sector. Martins Ifijeh writes

W

hen nearly two decades ago, Estonian, a tiny country, was battling with low gross domestic product and a crippling economic strength, not many nations thought they would experience turnaround since their government had made several efforts without achieving much success.

But the Estonian story tellers say the determination, not only by the stakeholders, but by the citizens changed the narrative, as they have become the most technology savvy nation on earth, resulting in economic boom for the country.

But same cannot be said of Nigeria’s healthcare system, as actions and inactions by especially some major players in the industry, the government and the citizens in general, have continued to hamper the desired growth needed for the sector to impact lives positively.

While Nigerians continue to trade blames for the slow pace of progress in the sector since inception of democracy, others believed the blame game must be shared by the government, doctors and health workers, privileged Nigerians and health bodies across board.

Incessant strike actions has not helped the system For instance, a Clinical Psychologist with Gray Havens Medical Centre, Port Harcourt, Dr. Alphosus Kalu, believed not few Nigerians have died because they were unable to access treatments due to strike actions by either medical doctors or other health workers, adding that for every strike action in hospitals, patients, whose tax payers money are used in running healthcare suffer the most, and in most cases this has resulted in deaths or irreversible health damages.

“While it is every worker’s right to use strike action to press home their demands, the critical position of importance of doctors and health workers makes it almost never an option, as other rules of engagement with administrations and the government are often advised to be used,” he said.

Records show that in 2016 alone, resident doctors of 25 teaching hospitals across the country went on strike to press home their demands. Joint Health Sector Unions (JOHESU) embarked on a nationwide strike to also press home their demands, and other associations as well went on strike at one point or the other.

For example, medical doctors in Irrua Specialist Teaching Hospitals embarked on strike action for almost four months in the year alone, making patients who were meant to access treatments in the hospital to live at the mercy of other health workers for treatments.

“A situation where citizens are unable to access healthcare because the hospital personnel are on strike will in no small measure hamper healthcare provision,” he stated.

He advised that private investors should consider investing in the health sector of the country the way they have invested in the power and oil sector,” he said.

While Kalu argues that though it remains the right of doctors and other health workers to embark on strike actions, it was important that government and the various associations settle their differences once and for all as this will continue to negatively affect the progress of the sector year in year out if nothing is done.

Desiring a world class health system but providing low budgetary allocation The WHO has continued to clamour for member countries to give at least 13 per cent of its minimum allocation to the health sector if they must adequately meet the healthcare needs of their citizens. The Nigerian government even went further to sign the African Union’s Abuja Declaration of 2001 where all member

Minister of Health, Prof. Isaac Adewole

countries promised to allocate 15 per cent of its annual budget to the health sector.

Sadly, since the mandate from the WHO and the Abuja Declaration, Nigeria’s budget allocation for health keep dwindling between 2.0 and 6.0 per cent, and in some instances, education and power sector take more budgetary allocations than the health sector, which is arguably the most important sector in a country, as other areas of the economy depends on how healthy the people and the nation are.

With the coming of a new government in power, one would think the priority given to the health sector would finally be restored.

However, this year’s allocated amount fell short of what was envisaged, especially in the face of more health challenges affecting the country.

From 5.7 per cent allocated to the sector in 2015, the allocation dropped to 4.3 per cent for 2016, which translates into N221.7 billion from the total budget of N6.08 trillion, a figure far below the N1trillion mark that was envisaged by stakeholders in the industry in view of the increased health issues.

The Chairman, National Immunisation Financing Task Team, Dr. Ben Anyene, described the allocation of 4.3 per cent of annual national budget to health sector in 2016 as grossly inadequate to cater for the health needs of the populace, and has insisted that 15 per cent of the budget for the sector be used in 2017 if the country must make gains in the sector.

The doctor, who described making policy without its implementation as baseless, said giving full health to Nigerians would prevent health challenges. “The masses who were faced with diverse health challenge could not survive with such meagre allocation, neither could the health of Nigerians,” he added.

Experts want the 2017 budget allocation for health to significantly increase.

The WHO believes if all health intervention areas in Nigeria were put into consideration and adequately captured in the budget, it would mean the government will spend a minimum of N6,908 per Nigerian in a year.

But, as it is, the country still spends just a little above N1,500 per Nigerian on healthcare, which means about 80 per cent of healthcare services is being funded from out-of-pocket expenses of Nigerians.

Brain drain as a drawback Of the over 80,000 Nigerian medical doctors registered with the Medical and Dental Council, available information suggests not more than 21,000 are currently working in the country due to quest for better working environment and greener pastures.

In an earlier interview with the media, the former President, Nigeria Medical Association, Dr. Osahon Enabulele, said over 7,000 Nigerian medical doctors work in public health in the United Kingdom, while others have left the profession altogether.

For a medical doctor, Adebayo Tunde-Vincent, Nigeria may not boast of 10,000 doctors in the next 10 years with the level of exodus of doctors out of the country due to “poor renumeration and conditions of service,” adding that Nigeria presently has less than 21,000 doctors practising in the country while over 22,000 were currently practicing in the United Kingdom and several thousands in the United States.

“This statistics show that we have more Nigerian doctors in the UK than even in our own country,” he added.

He added that majority of those he graduated with several years ago have travelled to other developed countries where they are better appreciated. He believed an average Nigerian doctor wants to be practising in countries like, United States, United Kingdom, Saudi Arabia, Canada, among others, as they have better conditions of service.

Agreeing that the brain drain was part of reasons for the slow growth of the sector, Tunde-Vincent said if the country wants the best out of doctors and other health workers, who often work round the clock for the provision of good health for the people, remuneration and other conditions of service must be upgraded considering the importance of their responsibilities.

He also called on President Muhammadu Buhari to decisively step into the unending crisis in the sector so that everyone can speak with same voice. “Are you aware that an average Nigerian doctor working for the government earns about N170,000 per month, while their counterparts in South Africa earn about N300,000 per month? So you can see there are many reasons for the brain drain,

which at the long run also affects how our healthcare is positioned,” he explained.

Earlier this month, Nigeria’s House of Representatives Committee on the Diaspora raised alarm that about 77 per cent of black doctors practising in the United States of America were Nigerians.

According to WHO, for a country to optimally provide healthcare for its citizens, there must be at least one medical doctor to six patients.

For Nigeria to achieve this, experts say the country needs at least 280,000 medical doctors, as against the less than 30,000 currently practising.

This, has in no doubt therefore contributed to the drawbacks of the country’s healthcare system.

Discourage medical tourism India’s medical association’s annual reports for 2014 show that in 2012 alone, 18,000 Nigerians obtained medical visa and about 47 per cent of outbound medical tourism from the country goes to India, totaling about $260 million.

According to the former director of Planning Research and Statistics, Federal Ministry of Health, Dr. Ngozi Azodoh, public officials who travelled abroad for medical care in 2014 alone expended N198.95 billion ($1 billion) of tax payers money while available estimates show that up to 40 medical trips to India alone were embarked on mostly by public officials at government expense.

Experts argue that if such moneys are expended in the country and re invested into healthcare for the year, it would go a long way to shaping the system positively.

Poor research culture A Professor of Virology, University of Massachusetts, Prof. Kelvin Dimeji, wants Nigeria to opt its game in medical research development, as this would help in providing better information in tackling some diseases affecting the citizens and Africa.

“Malaria and some other health burdens are part of the challenges we must solve through research and developments. A lot of Nigerians are dying from diseases that if adequately funded, vaccines may be available for,” he said.

He called on the government to give priority to research funding in the country.

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T H I S D AY THURSDAY, DECEMBER 22, 2016

NEWS 2016 UN Disabilities Day: NGOs Offer Free Cataract Surgery, Donate 400 Eye Glasses Adedayo Akinwale in Abuja As part of activities commemorating this years United Nations (UN) International Day for persons living with disabilities, two Non Governmental Organisations (NGOs), Big Church Foundation and Lions Club International recently carried out free cataract surgery on 50 visually impaired persons and also donated 400 eye glasses to people.

The NGOs, as part of its advocacy campaign also organised a 5,000 man walk to end stigmatisation against Persons With Disabilities (PWDs).

Addressing journalists in Abuja, the Chief Executive Officer of the Foundation, Dr. Olakunle Churchhill stated that Nigerians need to show persons with disabilities love and not sympathy.

He explained that the eye surgery with the theme; “Get Your Sight Back”, was handled

by Lions Club District 404A2 , in order to bring succour to the visually impaired persons.

Churchill explained that the foundation has also concluded plans to empower 37, 000 youth; 1,000 from each state of the federation in the creative industry agriculture, mining

and Information Communication Technology (ICT), as part of effort to eradicate poverty in Nigeria.

According to him, ‘’We deemed it fit to mark this day annually with the aim of identifying and understanding disability issues and mobilise support to stop it.

We also seek to increase the awareness of gains to be derived from the integration of persons with disability. ‘’We seek to end all form of stigmatization for people living with disability. Make them self-reliant and independent,” he said. Churchill stated: “towards the implementation and achieving the sustainable development goal in Nigeria, Big Church Foundation has taken the step to empower 37,000 youths, 1,000 from all state of the federation.”

The walk that was held last Saturday started at Eagle Square, and terminated at Millennium Park where capacity building programmes also held.

On his part, the National Secretary of Persons Living with Disabilities, Comrade Musa M. Musa commended the group for the intervention, adding that the disabled persons have benefited immensely from the group.

CDC Calls for Anti-Stigma Law against Persons with Disabilities Martins Ifijeh The Founder, Children’s Developmental Centre (CDC), Dr. Yinka Akindayomi, has called on the federal and various state governments to, as a matter of priority, enact laws against stigmatisation and discrimination of persons living with disabilities in the country.

Speaking during the Centre’s maiden Parent Summit, tagged ‘Overriding Stigma with Compassion’, she said it was surprising that the Federal Government has no law in place against discrimination of persons with special needs, as their rights continue to be violated across the country, with people treating them negatively daily.

“Only Lagos has a law against stigmatisation and discrimination of such categories of

persons, but even at that, the law is only focused on how wheelchair ramps should be provided in public buildings and how therapies should be given. Nothing is touching on how persons with disabilities should be treated or spoken to by people,” she added.

“In developed countries, it is a crime to hate on persons living with disabilities. They should be loved because disability can happen to anyone.

It does not matter whether the family is poor or rich,” she added.

She explained that even among interventions for disabilities, it has been observed that there was discrimination among interventions for them.

Government and stakeholders prefer to look more into those with eyes, hearing and speech impairments, forgetting that

persons with autism, among others, need to be catered for too.

She lamented that very little progress has been made in terms of addressing the challenges and needs of these special people as families and the society largely live in denial and therefore unwilling to provide the necessary support. ‘It was the need to change this attitude and direct attention to this area of need that the Centre organized the Parents’ Summit. For far too long, parents and families have worked in silos trying to provide care and services to their children with special needs.

For as long as parents do not get together to address these issues as a group it would be difficult to get support from government and policy makers,” Dr Akindayomi said.

She called on the government to allocate a portion of the tax payers ‘money for the welfare of these categories of persons, as it obtains in western countries.

Akindayomi said the summit would help bring parents of children with disabilities together so they can have a common and loud voice to speak up for the welfare of Nigerians with disabilities.

“This will help put pressure on the government to give children with special needs priority,” she added.

Lending her voice, an educationist, Dr. Dolapo Ogunbawo, said for parents to identify autism spectrum disorder in their kids, they should look out for their speech and language ability, social relationship and emotional level, adding that the signs may not all manifest.

NIPRD: Only N775m Was Released in Six Years- DG Kuni Tyessi, in Abuja Only the sum of N774.356 million was released by the federal government, an aggregate of 46.2 per cent to the National Institute for Pharmaceutical Research and Development (NIPRD) in the past six years, out of the N1.587 billion which was appropriated as running cost for the organisation, the Director General, NIPRD, Prof. Karniyus Gamaniel, has said.

According to him, in 2010, the sum of N113 million was released which is a 26.5 per cent of the total budget, while the sum of N163 million out of N242 million was released in 2011and in 2012, the sum of N124 million was released out of N254 million.

“In 2013 and 2014, the sum of N116 million and N152 million respectively were released out of N402 million and N394 million.

In 2015 and 2016, the sum of N25 million and N20.4 million were released as against N50 million and N48 million that were appropriated.

Speaking during a press briefing, he lamented the neglect of the institute which he said had great potentials to serve Nigerians and has the ability of generating not less than N100 million annually.

Gamaniel said it was necessary to juxtapose the released sum of money in the face of the present exchange rate , saying that the funds are grossly inadequate to run

the organisation, and such, the government’s political will in pharmaceutical research must be felt as basic funding is needed to develop capacity. ”There is the need to contextualise things.

You can see that there has always been a difference in the budget appropriation, sometimes N200 million, N100 million, etc. In those years, there is the need to consider the exchange rate of the naira.

Now that the exchange rate is worse, as of this year, our appropriation is N48 million and a conversion of that is less than $80,000 for a whole year for this institution. The dollar value is very important and so far what we have received is N20.4 million.”

“Inadequate capital and running cost is the most daunting challenge of NIPRD and there is a waste of resources and capacity if research is not taken seriously.”

The DG who revealed that they have so far added four more products to their production kitty, have continued to provide research output to herbalists and researchers from universities and polytechnics who desire to register their products with NAFDAC or for other purposes, despite inadequate funding.

He said other challenges include inadequate equipment for central lab facility, brain drain of research fellows, grossly inadequate capital cost and running cost as well as highly inadequate power supply.

L-R: Commissioner for Health, Lagos State, Dr. Idris Olajide; Managing Director, GlaxoSmithKline Pharma, Mr. Cesar Marval; and Director, Health Planning, Research and Statistics, Dr. Olufemi Taiwo, at the launch of Guidelines for the Management of Asthma, held in Lagos ...recently

Health Sector Workers Need Better Orientation, Says Expert Kuni Tyessi, in Abuja For better results in the health sector and in promoting caregiver and patient relationship for optimum results, health workers, especially doctors, nurses and midwives need better orientation in the form of capacity building and must be taught that compassion and empathy does not cost anything.

Also, pharmacies and hospitals should endeavour to break the jinx of secrecy as it relates to drugs being administered to patients, as it is their right to know the names, dosage, side effects, and other information which may be relevant to the patient in respect to usage as patients pay for services but do not get them.

This was the stand of Dr. Stella Iwuagwu, a victim of the failed health system in Nigeria and the Executive Director of Centre for the Right to Health, a nongovernmental organisation, during its press conference to announce the premiere of her documentary titled ‘Failed

by Angels’.

She queried that every right of the patient and the health worker has been enshrined in the constitution, but the problem was that many do not have copies to serve as guide, and those who have it do not read them to be acquainted with their health rights.

As a result of this, Iwuagwu, said patients have been abused and maltreated in hospitals with the resultant effect leading to more complications, and in severe cases, death. Adding that, even the judiciary was handicapped in interpreting the constitution as many Nigerians do not report the cases of the wrongs done to them in hospitals and as such, the vicious cycle continues with no one being held accountable. ”The laws are there but the applications are missing. If patients or their relatives don’t report or take cases to the courts, the judiciary will not be able to apply the law. So Nigerians need to know what the law says and what the National Health Act says. The legislatures have done their part to quite some extent but

as it is right now, the ball is in the court of the people. We

will not get anywhere until people begin to report.”

Syphilis May Soon Become Impossible toTreat, Study Warns Martins Ifijeh As the world continue to find better ways to treat disease conditions, a study by a group of health professionals, published in the journal ‘Nature Microbiology’ has shown that Syphilis, a sexually transmitted Disease (STD) could be impossible to treat with key antibiotics due to a new drug resistant strain.

Although, Syphilis in times past was regarded as a death sentence, it has become curable with penicillin injections, but a new aggressive strain of the infection has been observed, according to the study, putting concerns on the effectiveness of the known treatment substances.

Syphilis is a highly contagious disease, spreading primarily

by sexual activity, including oral and analsex. Occasionally, the disease can be passed to another person through prolonged kissing or close bodily contact.

While it could also be spread from sores, the vast majority of those sores go unrecognised, as the infected person is often not aware of the disease, and unknowingly passes it on to his or her sexual partner.

Studies have also shown that pregnant women with the disease can spread it to their babies.

This disease, called congenital syphilis, can cause abnormalities or even death to the child.

Syphilis cannot be spread by toilet seats, door knobs, swimming pools, hot tubs, bath tubs, shared clothing, or eating utensils.

T H I S D AY THURSDAY, DECEMBER 22, 2016

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HEALTH

2018 Target of 36% Contraceptive Prevalence Rate Achievable, Says FG Martins Ifijeh Nigeria is committed to achieving the set target of 36 per cent Family Planning (FP) Contraceptive Prevalence Rate by year 2018, according to the Director and Head of Reproductive Health Division of the Federal Ministry of Health, Dr. Kayode Afolabi, .

At the FP Watch final dissemination event held in Abuja recently, Afolabi said that notwithstanding the 2016 prevalence rate of 16 per cent, the 2018 target of 36 per cent was still achievable as Nigeria was part of the global movement on Family Planning-FP 2020.

The FP 2020 goal is designed to enable 120 million women and girls to have informed choice and access to family planning information and a range of modern contraceptive methods. The FP Watch project is funded by the Bill and Melinda Gates Foundation and the Three Millennium Development Goal Fund.

The FP Watch is a survey coordinated by the Federal Ministry of Health and Society for Family Health (SFH) with support from Population Services International (PSI).

“For the first time, the survey looks at the availability and access to family planning commodities and services nationwide,” Afolabi said, adding that “we are happy to be part of the survey because it has significance to impact programming and policy that will enhance family planning programming especially access and uptake of family planning in the country to improve maternal, newborn and child health.”

Meanwhile, the Managing Director, Society for Family Health, Sir Bright Ekweremadu, said the National Dissemination Event was to understand the contraceptive landscape and service readiness of providers in Nigeria, provide recommendations pertaining to the outlet survey evidence and identify opportunities and strategies to address key

findings.

“We hope to develop recommendations and suggest strategies and priority areas for funding based on the evidence provided by the FP Watch outlet survey,” he assured.

In her remarks the Deputy Managing Director (Programmes) of the Society for Family Health, Dr. Jennifer Anyanti, said that the FP Watch study visited 14,000 outlets across the country to ascertain the availability of family planning commodities and level of service to the teeming Nigerian Population.

Anyanti who described the findings as “interesting” said that part of the focus of the study was market share i.e. which proportion of facilities were providing most services “When we looked nationwide, we found out 75 per cent came from the private sector and 25 per cent from the public sector,” she said, adding that this was of great interest to the stakeholders “because usually we place a lot of focus on the public sector.”

Anyanti said that the study also looked at product availability in the sector including products such as condoms, oral contraceptives, emergency contraceptives, injectibles, implants, IUDs and permanent methods like male and female sterilization.

“From the presentations we noticed that access to family planning is low in the North … so it depends largely on the work that all of us – government, partners and media do in educating women about family planning.”

FP Watch is a multi-country research project designed to generate evidence on contraceptive availability through surveys administered to all Public and Private facilities and outlets with the potential to sell or distribute modern FP methods.

The standardised methodology and questionnaire were implemented in Ethiopia, Nigeria, the Democratic Republic of Congo (DRC), Myanmar and India from 2015 to 2016.

UNAIDS, StarTimes Partner to Promote HIV/AIDS Prevention The United Nations Programme on HIV/AIDS (UNAIDS) and media partner StarTimes are working together to reach millions of people with World AIDS Day messages on the theme of HIV prevention.

UNAIDS has produced two short videos that promote the life-cycle approach to HIV prevention—finding HIV solutions for everyone, at every stage of life. StarTimes will broadcast the videos across their African networks in English and French from today until the end of the year.

StarTimes is a major digital television operator licensed to broadcast in 30 countries across Africa.

According to the groups, “No one should be left behind by the AIDS response. Promot-

ing HIV prevention options alongside HIV testing and treatment can ensure that the world will get on the Fast-Track to end the AIDS epidemic as a public health threat by 2030.

UNAIDS leads and inspires the world to achieve its shared vision of zero new HIV infections, zero discrimination and zero AIDS-related deaths. UNAIDS unites the efforts of 11 UN organizations—UNHCR, UNICEF, WFP, UNDP, UNFPA, UNODC, UN Women, ILO, UNESCO, WHO and the World Bank—and works closely with global and national partners towards ending the AIDS epidemic by 2030 as part of the Sustainable Development Goals. policies and putting them on the shelves,’’ Anyene said.

Nigeria Gets First Open Defecation-Free LGA Alex Enumah in Abuja Nigeria’s target of eliminating open defecation by the year 2025 witnessed a boost in Calabar, with the declaration of Obanliku Local Government Area in Cross River State, Open Defecation Free (ODF) by the federal government.

The feat, which according to the Minister of Water Resources, Engr. Suleiman Adamu, was a landmark achievement, was due to concerted efforts by the people of the community in collaboration with the Rural Sanitation and Hygiene Promotion in Nigeria (RUSHPIN).

Adamu, announcing the ODF status of the LG at a press conference in Calabar, expressed confidence the event would go

a long way in motivating other LGAs to achieve a similar result.

The minister, who was represented by the Director, Water Quality, Emmanuel Awe, disclosed that open defecation has been a source of great concern to the government, adding that FG in collaboration with relevant agencies set a target of 2025 for the elimination of open defecation in Nigeria.

Open Defecation is said to be responsible for thousands of deaths annually, particularly of children under the age of five.

Nigeria, according to the minister, is one of the leading countries in the world with 46 million defecating in the open.

He said out of this figure, 71 per cent lack access to basic sanitation facilities.

“It is in this regard that sanitation focused projects such as the RUSHPIN project, etc are critical in filling the gap”, the minister stated, adding that, “The Federal Ministry of Water Resources is vigorously pursuing the agenda of eliminating open defecation and improving access to improved sanitation facilities in the country.”

He commended the people of Obanliku LGA and United Purpose (Implementing Agency) of RUSHPIN for doing the nation proud.

“This milestone, the first of its kind in Nigeria, has been achieved using the Community Led Total Sanitation (CTLS) approach, which promotes behavioral change by empower-

ing communities to assess their sanitation practices and proffer solutions towards addressing them, especially as it regards open defecation, by constructing and using toilets through their resources without any hardware subsidy,” he said.

United Purpose’s Country Director, Tim Connell, said although water is important, there is need to emphasize sanitation towards meeting the SDG goals by 2030.

While noting that the issue of sanitation is more of behavioural change that needs conscious efforts from the people, he disclosed that a lot of the people have already bought into the idea, adding that Bekwarra LGA also in the state is at the verge of attaining ODF status.

FOR HEALTHCARE ADVANCEMENT

L-R: Graduate, Joy Moses; Programme Director, Engineering World Health, Professor Carmen Walker; Deputy Chairman Advisory Committee (CMAC), LUTH, Professor Wasiu Adeyemo; Chief Medical Director, LUTH, Professor Christopher Bode and Education Leader, GE, Lillian Okoye, at the Graduation Ceremony of the School of Biomedical Engineering, held in Lagos ,..recently

Sokoto Establishes Agency for Boko Horam: PCNI Donates Malaria Control N1m to Offset Medical Bills of Other responsibilities include Madagali Bomb BlastVictims In an effort to bolster the fight against malaria, Sokoto Governor Aminu Waziri Tambuwal, has approved the establishment of a dedicated agency for the control of the dreaded tropical disease.

To be known as the Sokoto Agency for Malaria Control, the new body will take off in January 2017 and will be the focal point of implementing all policies related to malaria prevention and treatment in the state. With this approval, Sokoto becomes the first state in Nigeria to create such an agency.

A statement issued in Sokoto recently by Tambuwal’s spokesman, Malam Imam Imam, said the new agency would provide administrative, secretarial, communications, and logistical support in push to contain malaria and related diseases.

It added that the agency will also fulfill roles supporting working and technical groups set up by both the state and federal governments, as well as development partners and other stakeholders.

offering and providing technical support to other health agencies and partners to improve the health of the people through prevention and control.

Similarly, the agency will support policy makers in designing and implementing evidence-based interventions, assessing the burden of the disease and monitoring progress towards reducing mortality, by integrating these activities with management and dissemination of technical knowledge through strengthening of disease surveillance and response systems and public health programmes and services. Meanwhile, Sokoto State Government has commended the Nigeria Army for banning the sale of illicit drugs and its decision to seal shops selling same at the Giginya Barracks in the state capital.

The government said years of subtle diplomacy over the issue has paid dividends when the army authorities saw reason in banning the illicit trade.

Adedayo Akinwale in Abuja The Presidential Committee on the North-east Initiative (PCNI) has donated medical supplies and the sum of N1, 000, 000 to offset the medical bills of victims of the recent bomb blast in Madagali, Adamawa State.

In a statement issued yesterday in Abuja by the Chief Information Officer, PCNI, Mr. Odutayo Oluseyi said the donation was made by the Chairman, sub-committee on economic development, Hon. Yusuf Yakub, while visiting the victims at the General Hospital, Michika and Mubi, both in Adamawa State.

He noted that,”at a town hall meeting with stakeholders at Madagali, Michika and Uba, Yakub explained that the economic development of the Buhari administration is channelled towards enhancing health facilities, agriculture, education, entrepreneurship, Job creation and rural infrastructure development

in the region.”

While inspecting the extent of damage done by insurgency at Government Day secondary school, Government Secondary schools and Central Primary School Madagali, Yakubu assured the stakeholders that the findings in areas as regards the challenges of the people would be factored into the comprehensive plan of the President for immediate implementation.

The committee also visited Maiha and Gambia, where it also interacted with stakeholders there; after which a bridge that was blown up by the Boko Haram insurgents, but rebuilt by the federal government along HongMubi Madagali Road was commissioned .

Oluseyi revealed the committee members who were on an on – the - spot assessment and stakeholders engagement in Adamawa and Taraba State were also accompanied by the CEO of Hethrone USA, Mr. Donnubari Gbaanador.

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T H I S D AY THURSDAY, DECEMBER 22, 2016

HEALTH

15% Budgetary Allocation to Health is Ripe, Says Expert Kuni Tyessi, in Abuja The Chairman, National Immunisation Financing Task Team, Dr. Ben Anyene, has described the allocation of 4.5 per cent of annual national budget to health sector as grossly inadequate to cater for the health needs of the populace, and has insisted that 15 per cent of the budget for the sector is ripe.

Anyene, alongside other stakeholders, made the call in Abuja at a road walk to commemorate the Universal Health Coverage (UHC) Day marked globally with the theme ‘Act with Ambition’.

Anyene, who was the former Chairman, Board of Trustee, Health Reform Foundation of Nigeria (HERFON), described the UHC initiative as health for all, adding that the government should give priority to its implementation through the existing legal framework like the National Health Act, among others The doctor, who described making policy without its implementation as baseless, said that giving full health to Nigerians would prevent health challenges.

He said that the masses who were faced with diverse health challenge could not survive with such meagre allocation, neither could the health of Nigerians.

Anyene noted that Nigeria in conjunction with other African Heads of State made the commitment 15 years ago.

According to him, the commitment to allocate 15 per cent of their annual budget to health has not been implemented by the Nigerian government till date.

“What we are saying is do the necessary things, these things are not undoable, if Rwanda among others can give UHC to their people, I do not see why Nigeria cannot give such to its people.

“You cannot fund the health of Nigerians with about 4.3 or 4.5 per cent of National Health budget, it is not possible.

If you realise that preventive health is better than cure and promotional health is even more interesting but these things have to be done because there is no point making these policies and putting them on the shelves,’’ Anyene said.

Meanwhile, the representative of Nigerian Medical Association (NMA), Dr. Henry Ewunonu, also urged the government to do everything possible to capture all provisions of National Health Act in next year’s budget.

Ewunonu emphasised that the Act stipulated that no Nigerian should suffer financial hardship just because of ill-health or wanting to access healthcare services.

“Universal Health Coverage is about not incurring serious financial hardship by the sick, we want to get better; it is not our fault that people get sick instead it is because of certain inactions or errors of

omission and commission of those in power.

“People have accident and become crippled for life because our roads are not good, people contact TB because our housing is poor, people

suffer malnutrition because they cannot buy food.

And the moment they now fall sick, they are sentenced to death, so we appeal to government to implement the legal instrument like the

National Health Act in the 2017 budget.

“It provides that at least one per cent of the consolidated revenue fund be allocated to basic healthcare provision fund in the 2017 budget,’’ he said.

FOR MATERNAL/CHILD HEALTH

L-R: Staff, Options UK, Camille Thomas; MamaYe Heroine Awardee/Executive Director, Child Health Advocacy Initiative, Mrs. Lola Alonge; MamaYe Hero Awardee/Medical Director, Lagos Island Hospital, Dr. Donald Imoiseme and Country Director, MamaYe Nigeria, Dr. Tunde Segun, at the launch of MamaYe Campaign and Award Presentation in Lagos ...recently

Improve on PPP, Health Insurance Scheme, HCPAN Urges Governments 2017 Budget Allocation: Groups GSK, Experts Call for Proper Martins Ifijeh Health sector is another integral part of the Nigeria system that needs more attention. As an important element of national security, public health not only functions to provide adequate and timely medical care but also track, monitor, and control disease outbreak.

In the last few years, the sector has been getting little or no attention from all levels of government, as the budget allocated to the sector continue to fall below 5.0 per cent.

This however, shows Nigeria has a lot to do in improving its health system and making healthcare affordable and accessible to the millions of Nigerians who are not getting the health services they require.

As a way of addressing this, Healthcare Provider Association of Nigeria (HCPAN) has called on the federal, state and local governments to embrace the Private Public Partnership (PPP), while putting modus on ground for a better universal health coverage for the citizens.

Speaking at the group’s 12th Annual General Meeting/Scientific Conference, tagged: “Achieving Universal Health Coverage in Economic Recession, and the Way Forward”the National President of the Association, Dr. Umar Oluwole Sanda said with the economic recession experienced in the country,

it was becoming difficult for Nigerians to pay for their health bills, adding that health insurance must be strengthened to provide palliatives for the citizens.

“One of the ways in achieving this is through a PPP model that will work.

70 per cent of the providers are in the private sectors. The government is in charge of health, so healthcare providers in the private sector have to be used to push the brand.

How many general hospital do you see in Lagos State? How many teaching hospital do you see? Government cannot do it alone, so they have to partner with the private sector, which is the only way to grow in order to reduce bad health indices for Nigerians,” he added.

Meanwhile, the former Commissioner for Health, Lagos State, Dr. Leke Pitan called on Nigerian medical experts abroad to give a lending hand in the revamping of the country’s health sector, adding that with the economic recession, it was time to look inwards, as the situation was also affecting the health sector.

Presenting a model, he said, “the present administration needs to get pragmatic about health and engage in PPP. They should not see the engagement as a help to the private sector but as partners. There should be a PPP unit either in state or at federal level, which must lure the private sector.”

Commend FG on Increase in Management of Asthma Capital Health Projects Kasim Sumaina in Abuja One Campaign, and Connected Development (CODE) have commended the federal government for increasing the 2017 budgetary allocation in the health sector that was recently presented before the National Assembly by President Muhammadu Buhari.

The group hinted that while it applauded the budget increase in capital health projects as a step in the right direction, it was urging the government to lay more emphasis on primary health care delivery and fighting malnutrition so as to alleviate suffering amongst the citizens particularly the poor and those in the North-east who were mostly affected by poverty.

This was contained in a statement signed by One Campaign Country Representative, Mr. Edwin Ikhouria and made available to the media recently in Abuja.

According to Ikhouria, “the increase in health allocations announced in the budget is progress and should be welcomed. Putting more money into Nigeria’s health will not only boost the economy but will change people’s lives, particularly the poor, who are living in dire circumstances especially during this recession “Only by delivering on the commitment and building a

pathway towards spending 15 per cent on health as promised in the 2001 African Union Abuja Declaration, will government be poised to ending the health crisis in the country.”

One Campaign further urged the government not to stop the momentum. “While we welcome the development as progress on health with increased investment, we further urged the government to invest more in the sector, specifically in primary healthcare to combat the health crisis facing the nation.

“This momentum should not stop and we hope it continues to progress, by creating the Basic Health Care Provision Fund with a minimum of 1 per cent of the Consolidated Revenue Fund into health and fulfilling the promises made in the National Health Act.” Speaking in similar vein, Chief Executive Officer, Connected Development (CODE), Mr. Hamzat Lawal, said: “The 2017 budget presentation brings hope for citizens, mostly people in rural communities.”

Hamzat stated that public healthcare investments remain key ingredient of development, poverty reduction strategy and human capital development.

While pledging to support the government by working with the communities to ensure that moneys were actually spent well and transparently, he said,

Bearing in mind that asthma can be severe or fatal if not well managed, GlaxoSmithKline Pharmaceutical Nigeria Ltd and health experts have called on asthmatics in Nigerians to ensure proper diagnosis and management, as this could help in reducing symptoms and death.

Speaking during the official launch of the new Guidelines for the Management of Asthma in Lagos recently, the Chief Medical Director, Lagos State University Teaching Hospital, LASUTH, Professor Wale Oke, said the burden of the disease and rate of deaths can be reduced through proper information relating to management of the condition.

Stating that more emphasis was needed on the control, he said that “In the past, management and treatment of asthma was based on individual opinion, individual perception and sometimes even personal belief. Asthma was categorized according to the severity of its symptoms rather than how it could be controlled. What is desired is accurate, basic and balanced information to assist practitioners.

“In developing countries like Nigeria, the severity of asthma is grossly underestimated,” adding that it was not surprising that the shift in treatment plan remains unimplemented.

“The consequence of this is the persistent increase in

the mortality and morbidity among sufferers. This can be prevented,” he stated.

He explained that in Nigeria, asthmatics continue to die from misdiagnosis, lack of management guidelines, stigmatisation and poor device use, adding that the situation, informed the decision to develop the management guidelines.

Developed in collaboration with GSK Pharmaceutical Nigeria Limited, under its “Breathe Easy Project”, the guideline, first of its kind in Nigeria, is aimed at ensuring that no asthmatic dies as a result of their asthma.

The Managing Director, GSK Pharma, Mr. Cesar Marval, said the whole essence of the guideline was to ensure the asthma was very well managed and does not get to the position where it becomes fatal “For us at GSK, this initiative is at the heart of our very existence. It aligns with our mission, which is to improve the quality of human lives, to help people do more, feel better and live longer.

“Our commitment to improve asthma management and respiratory health is further demonstrated by the establishment of the GSK Breathe Easy Initiative. This initiative aims to help improve the appropriate diagnosis and management of asthma such as supporting the launch of this guideline,” Marval stated.

40

THURSDAY DECEMBER 22, 2016 T H I S D AY

T H I S D AY THURSDAY DECEMBER 22, 2016

41

42

THURSDAY DECEMBER 22, 2016 T H I S D AY

T H I S D AY THURSDAY DECEMBER 22, 2016

43

44

THURSDAY DECEMBER 22, 2016 T H I S D AY

45

T H I S D AY THURSDAY DECEMBER 22, 2016

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46

T H I S D AY Ëž Ë&#x153; Í°Í°Ë&#x153; 2016

BUSINESS/MONEYGUIDE

Obazee: National Corporate Governance Code Will Help Restore Confidence in Economy Obinna Chima The Executive Secretary of the Financial Reporting Council of Nigeria (FRC), Mr. Jim Obazee has said National Code of Corporate Governance (NCCG) has the capacity to build confidence that can assist the Nigerian economyâ&#x20AC;&#x2122;s normal recuperative mechanism to engage.

He said this in his welcome address on the occasion of the 13th annual financial reporting summit and dinner that took place in Lagos yesterday.

The theme for the summit was: â&#x20AC;&#x153;National Code of Corporate Governance and New Audit Report: A Paradigm Shift.â&#x20AC;?

Obazee said the Council had been accused from different quarters that the issuance of

the National Code of Corporate Governance (NCCG) was the cause of, or capable of, creating a recession, impeding the ease of doing business and/ or decreasing foreign direct investments.

According to him, in other cases, the FRC had also been informed that the NCCG was in conflict with the FRC Act, 2011 and/or the Companies and Allied Matters Act, CAP C20, LFN 2004; among others.

But Obazee responded to some of the accusations, saying the NCCG was not the cause of recession.

In addition, he stressed that the NCCG cannot impede the ease of doing business, saying â&#x20AC;&#x153;Ease of doing businessâ&#x20AC;?, in a jurisdiction, is based on some

â&#x20AC;&#x153;indicator sets.â&#x20AC;?

These indicator sets, according to the World Bank Group, are in the areas of: Starting a Business, Dealing with Construction Permits, Getting Electricity, Registering Property, Getting Credit, Protecting Minority Investors, Paying taxes, Trading across Borders, Enforcing Contracts and Resolving Insolvency.

The FRC boss added: â&#x20AC;&#x153;Capital, globally, has only two known loyalties: safety and adequate returns. Capital does not owe any loyalty to any governance environment that does not guarantee these two loyalties.

This is because; capital does not focus on the â&#x20AC;&#x153;productâ&#x20AC;? but on the â&#x20AC;&#x153;experienceâ&#x20AC;?. If we do not arrange our jurisdictional issues by importance.

Flour Mills Says Dollar Shortage Boosting Sales Nume Ekeghe ĂĄĂ&#x201C;Ă&#x17E;Ă&#x2019; Ă&#x2039;Ă&#x2018;Ă?Ă&#x2DC;Ă?ĂŁ Ă&#x153;Ă?Ă&#x161;Ă&#x2122;Ă&#x153;Ă&#x17E; Flour Mills of Nigeria Plc, the countryâ&#x20AC;&#x2122;s biggest miller by market value, has said a shortage of dollars in Africaâ&#x20AC;&#x2122;s most populous nation is boosting sales as buyers starved of the United States currency buy more food products locally. â&#x20AC;&#x153;Everyone is trying to see how to source locally and that is goodâ&#x20AC;&#x2122;â&#x20AC;&#x2122; for Nigerian farmers and processors, Managing Director Paul Gbededo, told Bloomberg in an interview. â&#x20AC;&#x153;We have almost tripled production in refinery of

palm oil, palm kernel and soya bean,â&#x20AC;&#x2122;â&#x20AC;&#x2122; he said.

Prices have risen alongside demand, Gbededo said. â&#x20AC;&#x153;Fifteen months ago, one ton of corn was sold for 60,000 naira ($190). Today it is N125,000,â&#x20AC;&#x2122;â&#x20AC;&#x2122; he said.

The Central Bank of Nigeria had banned importers of 41 items, including palm-oil and rice, from accessing official foreign-exchange markets in June 2015. Although authorities allowed the naira to float in June in a bid to attract inflows, the U.S. currency remains scarce as most foreign investors that exited the country are yet

to return. The economy shrunk in the first three quarters this year and is forecast by the International Monetary Fund to contract by 1.7 percent in 2016. Inflation accelerated to 18.5 percent in November, the highest rate in 11 years, according to the statistics agency.

Flour Millsâ&#x20AC;&#x2122; sales jumped 44 percent to N255 billion for the six months through September, according to an October 31 filing to the Nigerian Stock Exchange.

Profit after tax dropped to N6.5 billion from N24 billion due to foreign exchange losses, it said.

Winner Emerges in Heritage Bankâ&#x20AC;&#x2122;s â&#x20AC;&#x2DC;Next Titanâ&#x20AC;&#x2122; A budding entrepreneur with unique business idea of turning trashes into beautiful furniture, Mrs. Marvis Marshal-Idio has won the Heritage Bank Plcâ&#x20AC;&#x2122;s sponsored entrepreneurial competition show, â&#x20AC;&#x2DC;Next Titan Season 3.â&#x20AC;&#x2122; The star prize is N5 million from Heritage Bank, which is the headline official sponsor of the competition and a brand new car from Coscharis Motors.

The â&#x20AC;&#x2DC;Next Titanâ&#x20AC;&#x2122; is Nigeriaâ&#x20AC;&#x2122;s entrepreneurial reality TV show, a brain child of Mide KunleAkinlaja, where thousands of ambitious young entrepreneurs compete with one another for a grand prize of N5 million and a brand new car to start his or

her dream business.

According to a statement, at the grand finale held recently in Lagos, four finalists: Ronald Ajiboye, a first class graduate of a Russian University; Marvis Marshal-Idio, who came with a unique business idea of turning trashes into beautiful furniture; Victoria Mamza, founder of Wangarau Foods and Sunday Ewolabi, founder of Naija Peanuts competed for the star prize N5 million and a brand new Ford Eco Sport.

The four finalists emerged from the top16 contestants with the brightest ideas that were shortlisted from 50 aspiring entrepreneurs that were selected from auditions

held in Abuja, Port-Harcourt and Lagos recently.

The 16 contestants lived together and competed among themselves by carrying out weekly business tasks and challenges around the city of Lagos for nine weeks on television and with weekly evictions in the boardroom by the judges. Divisional Head, Micro, Small and Medium Enterprises (MSME) of the bank, Mrs. Ori Ogba, said Heritage Bank sponsored the project because of its unrelenting desire to ignite the entrepreneurial spirit in Nigerians, adding that the bank which is just three years old started out by recognizing talents in Nigerian youths.

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 Ëž Ă&#x2122;Ă&#x;Ă&#x153;Ă?Ă? Ě&#x2039;

MANAGED FUNDS Initial Price (N) Stanbic Balanced Fund

Buying Price(N)

Selling Price

1,660.29

1,685.29

Stanbic IBTC NEF

1,000.00

11,002.32

11,326.67.11

Stanbic SIBond

20

120.47

120.47

Stanbic IBTC Ethical

1

1.10

1.13

Stanbic IBTC GIF

142.90

143.38

UBA Balanced Fund

1.2563

1.2493

UBA Bond Fund

1.3443

1.3443

UBA Equity Fund

0.8205

0.8074

UBA Money Market Fund

1.1510

1.1510

FBN Capital Bags Investment Banking, Asset Management Awards

ARM Aggressive Growth Fund

N13.0544

N13.4480

ARM Discovery Fund

N288.2515

N296.9425

ARM Ethical Fund

N22.5268

N23.2060

Nume Ekeghe

ARM Money Market Fund

FBN Capital Limited, the Investment Banking and Asset Management business of FBN Holdings Plc, has received the â&#x20AC;&#x2DC;Best Local Investment Bank in Nigeriaâ&#x20AC;&#x2122; and â&#x20AC;&#x2DC;Best Asset Manager in Nigeriaâ&#x20AC;&#x2122; awards at the 9th EMEAFinance African Banking Awards 2016, held recently.

At the ceremony which held in London, the Publisher/CEO EMEAFinance, Christopher Moore, presented the awards

to Deputy Director and Head, Advisory & Capital Markets, Afolabi Olorode and Head, Marketing & Corporate Communications, Lolade Sasore, who attended on behalf of FBN Capital.

Despite the headwinds in the financial services sector and across other sectors of the nationâ&#x20AC;&#x2122;s economy, the firm ended the year on this outstanding note for innovative transactions closed and service delivered. â&#x20AC;&#x153;In 2016, FBN Capital executed

the largest Commercial Paper to be established by a Nigerian corporation, with the Nigerian Breweries Plc. Commercial Paper (CP) Issuances (Series 5, 6, 7), a transaction worth N12.23 billion, which recorded impressive subscription from investors. â&#x20AC;&#x153; In the UACN Property Development Company Plc Commercial Paper Issuance (Series 1) of N16.79 billion, the company was a Joint Lead Arranger involved in structuring the notes.

13.1030 (Yield % )

Ëž Ă&#x2122;Ă&#x2DC;Ă?Ă&#x17E;Ă&#x2039;Ă&#x153;ĂŁ Ă&#x2122;Ă&#x2013;Ă&#x201C;Ă?ĂŁ Ă&#x2039;Ă&#x17E;Ă? Ě&#x2039; ͯͲϹ

OPEC DAILY BASKET PRICE AS AT TUESDAY 20, DECEMBER 2016 The price of OPEC basket of fourteen crudes stood at $51.99 a barrel on Tuesday, compared with $52.18 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

47

T H I S D AY Ëž Ë&#x153; ͺͺË&#x153; ͺ͸͚͞

Nigeriaâ&#x20AC;&#x2122;s top 50 stocks based on market fundamentals

21-Dec-16

20-Dec-16

% Change

Capitalisation

EPS

P/E

P/S

Div. Yld

Price/ Book Value

Table 1 Market Statistics Mkt Indicators

01 Dangote Cement Plc

170.04

170.04

0.00%

2,897,567,879,146.20

9.20

18.47

5.10

4.70%

3.87

02 Nigerian Breweries Plc

142.00

142.00

0.00%

1,125,932,326,096.00

4.03

35.19

3.73

2.54%

6.87

03 Guaranty Trust Bank Plc

24.80

24.80

0.00%

729,893,244,755.20

4.90

5.06

1.82

7.14%

1.48

810.00

810.00

0.00%

642,051,564,120.00

8.81

91.92

3.72

3.58%

20.34

14.40

14.38

0.14%

452,109,510,518.40

3.91

3.69

0.95

12.50%

0.65

Table 3 Top 5 Gainers

370.50

390.00

-5.00%

205,001,470,966.50 -44.58

-8.31

2.64

4.30%

0.52

Stock

07 Ecobank Transnational Incorporated

10.88

11.45

-4.98%

199,643,117,219.20

0.68

16.08

0.34

5.70%

0.32

08 Lafarge Africa Plc

40.99

40.00

2.48%

186,705,425,191.90

-9.39

-4.37

0.88

7.32%

0.92

4.60

4.57

0.66%

166,885,821,081.20

1.75

2.63

0.50

13.04%

0.39

42.00

42.00

0.00%

166,760,035,890.00

0.03 1,436.40

2.34

3.10%

3.99

5.62

5.69

-1.23%

162,575,200,566.22

2.59

2.17

0.46

9.79%

0.37

12 Stanbic IBTCÂ Holdings Plc

14.21

14.95

-4.95%

142,100,000,000.00

2.04

6.98

1.01

0.70%

1.21

13 Unilever Nigeria Plc

35.00

36.00

-2.78%

132,415,368,750.00

0.69

50.57

1.99

0.14%

14.11

14 Guinness Nig Plc

87.50

87.50

0.00%

131,765,216,450.00

-3.06

-28.61

1.28

3.66%

3.34

15 FBN Holdings Plc

3.40

3.41

-0.29%

122,043,995,492.80

0.21

16.39

0.23

4.41%

0.20

85.47

94.69

-9.74%

111,323,059,873.41

3.31

25.85

0.72

4.04%

2.58

17 Mobil Oil Nig Plc

280.00

280.00

0.00%

100,966,673,360.00

19.32

14.49

1.11

2.57%

5.45

18 Total Nigeria Plc

277.10

277.10

0.00%

94,081,501,032.70

38.02

7.29

0.35

5.05%

4.13

19 7-Up Bottling Comp. Plc

129.00

129.00

0.00%

82,636,156,827.00

-0.05 -2,824.30

0.89

1.71%

3.72

20 Dangote Sugar ReďŹ nery Plc

6.08

6.32

-3.80%

72,960,000,000.00

1.03

5.92

0.51

8.22%

1.17

21 International Breweries Plc

17.96

17.95

0.06%

59,164,717,068.80

0.02

797.09

2.22

1.39%

5.39

22 Julius Berger Nig. Plc

38.58

38.58

0.00%

50,925,600,000.00

-2.95

-13.09

0.44

3.89%

2.68

4.20

4.41

-4.76%

50,545,399,354.80

-3.15

-1.33

0.20

17.86%

0.32

24 Flour Mills Nig. Plc

18.50

18.50

0.00%

48,548,387,959.50

-1.19

-15.51

0.12

10.81%

0.49

25 Okomu Oil Palm Plc

40.00

39.79

0.53%

38,156,400,000.00

4.82

8.29

5.80

0.25%

2.36

0.88

0.88

0.00%

34,074,477,734.00

-0.47

-1.89

0.65

0.00%

0.46

04 Nestle Nigeria Plc 05 Zenith Bank Plc 06 Seplat Petroleum Dev. Co. Ltd

09 United Bank for Africa Plc 10 Presco Plc 11 Access Bank Plc

16 Forte Oil Plc.

23 Oando Plc

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

16.41

16.41

0.00%

31,521,384,590.67

3.37

4.87

0.42

6.09%

0.42

28 Fidelity Bank Plc

0.88

0.86

2.33%

25,487,075,408.96

0.39

2.27

0.17

18.18%

0.14

29 Custodian And Allied Insurance Plc

3.93

3.93

0.00%

23,115,726,286.35

0.76

5.15

0.63

3.56%

0.81

30 Sterling Bank Plc

0.78

0.75

4.00%

22,456,526,138.28

0.29

2.71

0.21

11.54%

0.27

31.60

33.26

-4.99%

22,120,000,000.00

2.28

13.83

3.32

3.64%

12.92

1.08

1.09

-0.92%

21,386,927,643.48

0.61

1.76

0.13

9.26%

0.12

33 Cadbury Nigeria Plc

11.10

10.70

3.74%

20,848,042,644.00

0.50

22.23

0.74

11.71%

2.04

34 Diamond Bank Plc

0.90

0.90

0.00%

20,844,350,071.20

-0.29

-3.07

0.10

0.00%

0.09

35 National Salt Co. Nig. Plc

7.60

7.60

0.00%

20,135,731,672.80

0.85

8.95

1.07

7.24%

2.72

36 Wema Bank Plc

0.52

0.52

0.00%

20,058,722,362.12

0.06

8.73

0.39

0.00%

0.42

15.75

15.00

5.00%

18,835,054,686.00

-2.98

-5.28

0.67

1.90%

2.14

38 Mansard Insurance Plc

1.56

1.56

0.00%

16,380,000,000.00

0.28

5.60

0.82

3.21%

0.78

39 PZ Cussons Nigeria Plc

15.00

14.99

0.07%

15,000,000,000.00

5.69

2.64

1.05

0.67%

0.40

40 Continental Reinsurance Plc

1.00

1.00

0.00%

10,372,744,312.00

0.42

2.38

0.47

12.00%

0.55

41 Honeywell Flour Mill Plc

1.29

1.33

-3.01%

10,229,954,978.82

-0.40

-3.19

0.21

12.40%

0.31

42 Wapic Insurance Plc

0.52

0.52

0.00%

6,959,023,891.04

0.18

2.89

0.89

5.77%

0.42

43 Skye Bank Plc

0.50

0.50

0.00%

6,940,150,705.00

-2.93

-0.17

0.04

60.00%

0.07

44 Unity Bank Plc

0.58

0.58

0.00%

6,779,816,006.36

-0.10

-5.66

0.10

0.00%

0.08

45 Resort Savings & Loans Plc

0.50

0.50

0.00%

5,664,866,202.00

0.03

17.71

3.72

0.00%

1.94

46 Cement Co. Of North.Nig. Plc

4.42

4.21

4.99%

5,554,515,725.72

0.22

20.19

0.50

2.26%

0.52

47 AIICO Insurance Plc

0.61

0.61

0.00%

4,227,424,732.80

0.22

2.74

0.15

8.20%

0.41

48 Nigerian Aviation Handling Company Plc

2.33

2.22

4.95%

3,784,429,687.50

0.15

15.42

0.47

8.58%

0.63

49 UACN Property Development Co. Limited

2.18

2.18

0.00%

3,746,874,989.10

0.30

7.29

0.89

32.11%

0.11

50 Fidson Healthcare Plc

1.24

1.23

0.81%

1,860,000,000.00

0.24

5.27

0.28

4.03%

0.29

31 Cap Plc 32 FCMB Group Plc

37 Glaxo Smithkline Consumer Nig. Plc

TOTAL

8,551,141,892,188.03

TOTAL MARKET CAP

9,132,084,256,871.70

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

93.64%

NSE All Share Index NSE Market Cap (N'Trillion) Thisday BGL 50 Index Thisday BGL 50 Market Cap (N'Trillion)

Open 20-Dec-16

Close 21-Dec-16

Change %

26,540.87 9.13

26,418.11 9.09

-0.46% -0.46%

110.39 8.60

109.82 8.55

-0.51% -0.51%

Open Close Change % 20-Dec-16 21-Dec-16

Glaxo Smithkline Consumer Nig. Plc Cement Co. Of North.Nig. Plc Nigerian Aviation Handling Company Plc Sterling Bank Plc Cadbury Nigeria Plc

15.00

15.75

5.00%

4.21 2.22

4.42 2.33

4.99% 4.95%

0.75 10.70

0.78 11.10

4.00% 3.74%

Table 4 Top 5 Losers Stock

Open Close Change % 20-Dec-16 21-Dec-16

Forte Oil Plc. Seplat Petroleum Dev. Co. Ltd Cap Plc Ecobank Transnational Incorporated Stanbic IBTCÂ Holdings Plc

94.69 390.00 33.26 11.45

85.47 370.50 31.60 10.88

-9.74% -5.00% -4.99% -4.98%

14.95

14.21

-4.95%

NSE All Share Index further sheds 0.46% Market pulse on the Nigerian Stock Exchange (NSE) today â&#x20AC;&#x201C; Wednesday, December 21th, 2016 ends on a bearish note as stock market closed red amidst speculation. This was further highlighted by negative performances from the NSE Subsectors: Banking, consumer Goods and Oil & Gas (save Insurance) Trading activities increased in volume as 421.18 million shares worth of N10.08 billion in 3,937 deals exchanged hands today. This is an increase from the 247.71 million shares worth of N3.10 billion in 3,271 deals which exchanged hands on Tuesday. Topping in volume terms were Mutual BeneďŹ ts Assurance Plc, Oando Plc and Fidson Healthcare Plc, while Seplat Petroleum Dev. Co. Ltd and Unilever Nigeria Plc ended trading as the most active stocks in value terms.

The All Share Index (NSEASI) closed negative with 0.46% (-122.76) decrease to close at 26,418.11 from 26,540.87 the previous trading day. Market Capitalization depreciated in tandem to N9.09 trillion from N9.13 trillion of prior trading day.

Similarly, the Thisday BGL 50 Index followed suit with a decrease of 0.51% to close at 109.82 from 110.39 recorded at the end of the previous trading day, while its market capitalization stood at N8.55 trillion from N8.60 trillion of the previous trading day.

A total number of 20 stocks gained on the bourse today while 16 stocks declined, leaving 66 stocks unchanged. GlaxoSmithKline Consumer Nig. Plc emerged as the dayâ&#x20AC;&#x2122;s toast of investors as it topped the Thisday BGL 50 Index gainersâ&#x20AC;&#x2122; list with a gain of 5.00% to close at N15.75 per share. It was followed

by CCNN Plc with a gain of 4.99% to close at N4.42 per share. Others on the gainers list include: Nigerian Aviation Handling Company Plc, Sterling Bank Plc and Cadbury Nigeria Plc; while on the declinersâ&#x20AC;&#x2122; list, Forte Oil Plc re-emerge with a loss of 9.74% to close at N85.47 per share. It was followed by Seplat Petroleum Dev. Co. Ltd with a loss of 5.00% to close at N370.50 per share. Others on the decliners list include: Cap Plc, Ecobank Transnational Incorporated and Stanbic IBTC Holdings Plc.

REQUIRED DISCLOSURE This report has been prepared by BGL Plc. BGL Plc does and seeks to do business with companies covered in its research reports. As a result, the ďŹ rm may have a conďŹ&#x201A;ict 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

48

T H I S D AY Ëž Ë&#x153; Í°Í°Ë&#x153; Í°ÍŽÍŻÍ´

MARKET NEWS

NSE Index Sheds 0.46 % as Investors Book Profits on Oil, Banking Stocks Goddy Egene and Nosa Alekhuogie The stock market closed 0.46 per cent lower yesterday as investors intensified profit taking on oil and gas stocks.

Consequently, the Nigerian Stock Exchange (NSE) All-Share Index went closed lower at 26,418.11.

Similarly, market capitalisation closed lower at N9.09 trillion.

The market had regained N500

billion within 12 days following renewed interest in oil/gas and banking stocks. However, in an attempt to book in part of the capital appreciation, some investors began to dump their shares. This has sparked off the latest bearish trend that led to a decline of 0.46 per cent in the NSE ASI yesterday.

The negative performance reduced the month-to-date gain to 4.32 per cent and increased the

T H E

year-to-date decline to 8.02 per cent. Forte Oil led the price losers with 9.7 per cent, followed by Seplat Petroleum Development Company Plc and Beta Glass Nigeria Plc with 5.0 per cent in that order. Market analysts at Meristem Securities Limited said: â&#x20AC;&#x153;The weak performance of the market can be attributed to profit taking activities on oil and gas stocks and negative sentiment towards the banking

N I G E R I A N

sector. Going forward, we expect this trend to persist given the dearth of news inflow to sway investorsâ&#x20AC;&#x2122; reaction.â&#x20AC;?

In terms of sector performance, all indices closed in the red save for the NSE Industrial Goods Index, which rose 0.59 per cent due to gains in Lafarge Africa Plc (+2.5%).

The NSE Oil & Gas Index led the losers as it fell 3.7 per cent on the back of investorsâ&#x20AC;&#x2122; continued

STO C K

to cash out on Forte Oil and Seplat. The NSE Consumer Goods Index shed 0.3 per cent lower due to losses in Dangote Sugar Refinery Plc(-3.8 per cent) and Unilever Nigeria (-2.8 per cent).

Also the NSE Banking Index shed 0.5 per cent following the loss by ETI(-5.0 per cent) and Stanbic IBTC (-5.0 per cent) and Access Bank (-1.2 per cent).

Meanwhile, the total value

E XC H A N G E

of stocks traded on yesterday stood at N10.07 billion, up by 224.74 per cent from N3.10 billion recorded the previous day, while total volume of stocks traded was 421.18 million shares in 3,937 deals.

The most actively traded sectors were: Financial Services (212.34 million shares), Oil and Gas (76.29 million shares) and Consumer Goods (68.35 million shares).

49

˾ THURSDAY, DECEMBER 22, 2016

MARKET NEWS

May & Baker Boss Assures Stakeholders of Improved Performance Goddy Egene The Managing Director of May & Baker Nigeria Plc, Mr. Nnamdi Okafor has assured stakeholders of the company of steady performance and improved returns despite the challenging operating environment.

Okafor, gave the assurance at the company’s end-of-year media parley in Lagos, saying May & Baker has remain resilient, as indicated by third quarter results.

According to him, the macroeconomic challenges notwithstanding, the company’s sales have been trending at some 13 per cent growth while the management has maintained efficient cost control to mitigate the effect of the macroeconomic headwinds on the bottom-line.

“We have continued to take advantage of improved production capacity and better cost management to mitigate the tough operating environment. Our results

A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager.

Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.

An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

in 2016 have consistently shown improvement in major fundamentals, a trend which started in the last quarter of 2014 and significantly improved in 2015,” he said.

Okafor noted that as a world-class company, May & Baker Nigeria is consistently keeping abreast of international best practice and making strategic plans that can take its businesses to the next levels.

He pointed out that the company’s World Health

floor of the Nigerian Stock Exchange.

A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg.

Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.

GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 20-Dec-2016, unless otherwise stated.

Organisation (WHO)prequalified manufacturing facility in Ota is growing into a hub of pharmaceutical manufacturing in West Africa adding that the company is also building a world-class human capital that will help to enhance the global standards of its operations.

“We are already looking ahead for better results this year and beyond. By the Grace of God and with the support of all, we shall accomplish our objectives

not only to remain the leader in our market segments but also to create more wealth and value for all our stakeholders,” the managing director said.

According to nine months performance of the company ended September 30, 2016, turnover rose to N5.94 billion in 2016 as against N5.28 billion recorded in comparable period of 2015. The company took advantage of its internal cost management to boost

operating profit from N470.4 million in third quarter 2015 to N489.5 million in third quarter 2016.

Similarly, finance costs reduced considerably from N425.39 million in 2015 to N377.93 million in 2016, while profit before tax rose to N66.24 million in 2016 as against N60.63 million recorded in corresponding period of 2015. Profit after tax also grew to N44.4 million in 2016 compared with N41.2 million in 2015.

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 125.36 Nigeria International Debt Fund 221.66 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 Market Fund AXA Mansard Money Market Fund CHAPELHILL DENHAM MANAGEMENT LTD Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Nigeria Global Investment Fund Paramount Equity Fund Women's Investment Fund FBN CAPITAL ASSET MANAGEMENT LTD Web: www.fbnquest.com; Tel: +234-81 0082 0082 Fund Name FBN Fixed Income Fund FBN Heritage Fund FBN Money Market Fund FBN Nigeria Eurobond (USD) Fund - Institutional FBN Nigeria Eurobond (USD) Fund - Retail FBN Nigeria Smart Beta Equity Fund FIRST CITY ASSET MANAGEMENT LTD Web: www.fcamltd.com; Tel: +234 1 462 2596 Fund Name Legacy Equity Fund Legacy Short Maturity (NGN) Fund FSDH ASSET MANAGEMENT LTD Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Coral Growth Fund

100.00

aaml@afrinvest.com Offer Price Yield / T-Rtn 126.38 15.09% 223.06 10.77% info@acapng.com Offer Price Yield / T-Rtn 0.70 12.90% ammf@aiicocapital.com Offer Price

Yield / T-Rtn

100.00

17.82%

enquiries@arminvestmentcenter.com Bid Price 12.38 288.25 22.14

Offer Price 12.75 296.94 22.81

Yield / T-Rtn 1.57% 3.13% 0.41%

1.00

1.00

16.72%

investmentcare@axamansard.com Bid Price 110.79

Offer Price 111.48

Yield / T-Rtn 11.13%

1.00 1.00 15.03% investmentmanagement@chapelhilldenham.com Bid Price 2.14 9.19

Offer Price 2.19 9.43

Yield / T-Rtn 5.10% -6.71%

83.30

85.44

2.70%

invest@fbnquest.com Bid Price 1,085.54 110.64 100.00 $104.10 $103.41 112.60

Offer Price 1,086.74 111.41 100.00 $103.64 $103.64

Yield / T-Rtn 5.85% 5.00% 14.98% 7.31% 6.97%

114.12

13.36%

fcamhelpdesk@fcmb.com Bid Price 0.92 2.56

Bid Price 2,226.39

Coral Income Fund 2,095.99 INVESTMENT ONE FUNDS MANAGEMENT LTD Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price

Offer Price Yield / T-Rtn 0.93 1.65% 2.56 10.03% coralfunds@fsdhgroup.com Offer Price 2,251.08

Yield / T-Rtn 2.31%

2,095.99 10.78% enquiries@investment-one.com Offer Price

Yield / T-Rtn

Vantage Guaranteed Income Fund

1.00

1.00

15.86%

Vantage Balanced Fund

1.67

1.69

2.33%

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 1.00 1.02 12.48% Lotus Halal Fixed Income Fund 1,004.59 1,004.59 0.46% 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 9.58 9.67 -2.05% Meristem Money Market Fund 10.00 10.00 14.98% 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 1.05 1.06 6.28% PACAM Fixed Income Fund 10.43 10.51 4.69% PACAM Money Market Fund 10.00 10.00 15.09% 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 108.68 109.06 6.50% 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 1.24 1.24 9.86% 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 1,822.30 1,832.46 8.50% Stanbic IBTC Bond Fund 153.20 153.20 4.16% Stanbic IBTC Ethical Fund 0.76 0.77 2.00% Stanbic IBTC Guaranteed Investment Fund 185.99 185.99 9.61% Stanbic IBTC Iman Fund 130.34 131.97 -3.68% Stanbic IBTC Money Market Fund 100.00 100.00 17.15% Stanbic IBTC Nigerian Equity Fund 7,526.35 7,624.25 4.70% 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 1.15 8.20% United Capital Bond Fund 1.22 1.22 16.92% United Capital Equity Fund 0.66 0.67 -1.23% 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 9.61 9.78 0.74% Zenith Ethical Fund 11.08 11.17 -3.31% Zenith Income Fund 17.07 17.07 6.41%

REITS NAV Per Share

Yield / T-Rtn

11.58 123.32

3.99% 6.44%

Bid Price

Offer Price

Yield / T-Rtn

8.76 75.82

8.86 77.26

-8.52% -8.89%

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

2.75 7.03 12.05 15.13 127.80

2.79 7.11 12.15 15.33 129.80

20.17% 9.95% -2.78% -21.13% -

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.

50

THURSDAY DECEMBER 22, 2016 ˾ T H I S D AY

INTERNATIONAL

email:foreigndesk@thisdaylive.com

Berlin Truck Attack: Police Hunt for Tunisian Suspect A manhunt is under way across Europe after prosecutors identified a suspect in the deadly lorry attack on a Berlin Christmas market.

German prosecutors named the man they are searching for as Anis Amri, 23, from Tunisia, warning he could be armed and dangerous.

His residence permit was found in the cab of the lorry. It has emerged that he was reported to counter-terrorism police last month and had been facing deportation since June.

The German authorities are offering a reward of up to €100,000 (£84,000; $104,000) for information leading to his arrest.

Reports suggest he may have been injured in a struggle with the lorry driver, found murdered in the cab. The attack claimed 12 lives in all. Police are searching a migrant shelter in the Emmerich area of North Rhine-Westphalia, western Germany, where the suspect’s permit was issued.

Chancellor Angela Merkel has met her security cabinet to discuss the investigation into the attack.

‘Identified as a threat’ The warrant lists six different aliases used by Anis Amri, who at times tried to pass himself off as an Egyptian or Lebanese.

He is reported to have travelled to Italy in 2012 and then on to Germany in 2015 where he applied for asylum and was granted temporary leave to stay in April of this year.

Ralf Jaeger, the minister of interior of North Rhine-Westphalia, said

on Wednesday that the claim for asylum had been rejected in June but the papers necessary for deportation had not been ready.

“Security agencies exchanged their findings and information about this person with the Joint Counter-Terrorism Centre in November 2016,” the minister said.

Germany’s Spiegel news magazine reports that the suspect was “classified as a so-called danger, a police category of people who are suspected of being capable of an attack, and who were therefore regularly checked”. Tunisia, Mr Jaeger said, had denied Anis Amri was its citizen, so the authorities had had to wait for temporary passport documentation from Tunisia. “The papers arrived today from Tunisia,” Mr Jaeger added.

Sueddeutsche Zeitung reports that the suspect moved within the circle of an Islamist preacher, Ahmad Abdelazziz A, known as Abu Walaa, who was arrested in November.

Some 49 people were also injured when the lorry was driven into crowds at the Breitscheidplatz Christmas market. So-called Islamic State said one of its militants carried out the attack but offered no evidence. Polish citizen Lukasz Urban was found dead on the passenger seat with gunshot and stab wounds.

Investigators quoted by German media say there is evidence that, despite being stabbed, Mr Urban wrestled him for the steering wheel.

One official quoted by Bild

newspaper said it appeared from the post-mortem examination that the driver had survived up to the attack and was shot dead when the truck came to a halt. No gun has been recovered.

Ariel Zurawski, the owner of the Polish transport company, said he had been asked to identify Mr Urban from photographs.

“His face was swollen and bloodied,” he told broadcaster TVN. “It was really clear that he was fighting for his life.” Company manager Lukasz Wasik described Mr Urban as a “good, quiet and honest person” and said he believed he would have defended the lorry “to the end”. Police say they are acting on hundreds of tips from the public and are examining DNA traces from the cab of the truck.

German President Joachim Gauck visited some of the injured on Wednesday. Speaking outside the Charite Hospital in Berlin, he said: “They should feel that they are not alone and that apart from the doctors here, people across the country are hoping and waiting for them to recover.” Officials released the only detained suspect on Tuesday, saying there was no evidence to link him to the attack.

The IS group claimed the attack through its self-styled news agency, saying it was “in response to calls to target nationals of the coalition countries”.

Prosecutor Peter Frank told reporters that the style of attack and the choice of target suggested Islamic extremism.

Deadly Mexico Fireworks Blast Hit Market Packed for Holidays The San Pablito fireworks market was especially well stocked for the holidays and bustling with hundreds of shoppers when a powerful chain-reaction explosion ripped through its stalls, killing at least 31 people and leaving dozens more badly burned.

The third such blast to ravage the market on the northern outskirts of Mexico’s capital since 2005 sent up a towering plume of smoke that was lit up by a staccato of bangs and flashes of light. Once the smoke cleared, the open-air bazaar was reduced to a stark expanse of ash, rubble and the charred metal of fireworks stands, casting a pall over the country’s Christmas season.

Mexico State health officials said about 60 people were hospitalized for injuries from Tuesday’s explosion, including for severe burns, in some cases over 90 percent of their bodies. On

Wednesday, 47 people remained hospitalized, among them, 10 children. Authorities have not yet said what may have caused the explosions that took place in Mexico State, which rings the capital.

The Mexico State government said Wednesday the death toll rose to 31, after five people died at local hospitals. Mexico State chief prosecutor Alejandro Gomez said some of the dead were so badly burned that neither their age nor their gender could be immediately determined. He said the toll could rise because 12 people were listed as missing and some body parts were found at the scene.

A list of the nine bodies identified so far showed one of the dead included a 3-month-old baby boy and a 12-year-old girl. Gomez said a total of seven male minors were among the dead.

Survivor Crescencia Francisco

Garcia said she was in the middle of the grid of stalls when the thunderous explosions began.

She froze, reflexively looked up at the sky and then took off running through the smoke once she realized everyone was doing so. As she ran she saw people with burns and cuts, and lots of blood.

“Everything was catching fire. Everything was exploding,” Francisco said. “The stones were flying, pieces of brick, everything was flying.”

Sirens wailed and a heavy scent of gunpowder lingered in the air well after the thunderous explosions at the market, which were widely seen in a dramatic video. The smoking, burned-out shells of vehicles ringed the perimeter, and first responders and local residents wearing blue masks over their mouths combed through the ash and debris. Firefighters hosed down still-smoldering hotspots.

Bana Alabed, Aleppo’s Tweeting Girl, Meets Turkey’s President Erdogan Bana Alabed - the seven-year-old Syrian who tweeted about life inside rebel-held east Aleppo - has met Turkey’s President Recep Tayyip Erdogan.

Bana and her little brother have been pictured sitting on Mr Erdogan’s knee in the presidential complex in Ankara.

President Erdogan sent a special representative to Syria to collect Bana and her family after they fled

east Aleppo, the BBC has been told.

Bana’s plight came to light after she joined Twitter in September.

The account captured everything from the death of her friends to her attempts to live a normal life.

Along the way, she has picked up more than 325,000 followers, including JK Rowling, who sent her an electronic copy of Harry Potter to read.

On Wednesday, Bana tweeted a

picture of herself and Mr Erdogan, writing she was “very happy” to meet the president, while in a short video she is heard saying: “Thank-you for supporting the children of Aleppo, and helping us to get out from war.”

Bana’s mother, Fatemah, who runs the Twitter account, decided to start it to show “how much kids are suffering from bombs and everything”.

THURSDAY DECEMBER 22, 2016 ˾ T H I S D AY

51

NEWSEXTRA

Rivers Rerun: INEC Constitutes Panel to Probe Alleged Electoral Fraud Wike sets up judicial commission of inquiry Ernest Chinwo inPortHarcourt and Ogheneuvede Ohwovoriole In Abuja The Independent National Electoral Commission (INEC) has constituted a high-powered four-man committee to investigate the role of its official in the conduct of the re-run elections which took place on Saturday, December 10, 2016 in Rivers State.

The members of the committee as stated by a statement by the commission’s media unit, included Professor Okechukwu Ibeanu, Chairman; AVM Ahmed T. Mu’azu, (National Commissioner) member; Professor Jacob Jatau, (Resident Electoral Commissioner, FCT), Member; Omoloja Tajudeen, Deputy Director (Discipline).

The committee’s terms of reference are to: review the preparations and deployment of personnel and material on the eve of the elections; identify the factors leading to the apparent failure of processes in some local government areas) and determine the involvement and possible culpability of INEC officials in the conduct and outcome of the elections.

The committee was also mandated to recommend appropriate sanctions against officials involved in any infractions and commendation for exceptional performance, and advise the commission on any matter considered relevant to the assignment.

The committee is expected to submit its report on January 30, 2017.

In respect of INEC staff facing investigation by the Economic and Financial Crimes Commission (EFCC), over the conduct of the 2015 general election, the commission decided that appropriate disciplinary action be meted out on them based on the INEC Staff Conditions of Service.

Meanwhile, the commission has approved the promotion of 1,307 of its staff across the country. The approval came yesterday following a meeting of the commission held at the INEC headquarters, Abuja.

A breakdown of those promoted showed that 14 were officers promoted from Grade Level (GL) 16 to the rank of Grade Level (GL) 17 (substantive Directors) while 1,293 were officers from Grade Levels (GL) 7 to 16.

A statement issued by the electoral commission’s media unit said all the staff promoted passed their promotion examinations and successfully met the rigorous criteria set by the commission.

Also, four directors of INEC at the headquarters, Abuja, who recently retired after meritoriously serving the commission, were yesterday recognised and appreciated with gift items by the directors in the commission’s headquarters.

Meanwhile, Governor Nyesom Wike has constituted a Judicial Commission of Inquiry to investigate the killings and other

violent acts/matters that occurred during the December 10 rerun and supplementary elections in the state.

This came as the governor also warned against politicisation of security because of the danger it portends for the country.

The constitution of the Judicial Commission of Inquiry was contained in a special government announcement signed by the Secretary to the Rivers State Government, Hon Kenneth Kobani yesterday.

According to the announcement, the Judicial Commission of Inquiry has Justice Chinwendu Nwogu as Chairman. Members include Mrs Grace Akpughunum-Okwulehie, Prof O.V.C. Okene, Sir Anthony Uzoma Ozurumba, Rev Canon Hossanna Nnaewi, Alphonso Sibi Esq (Chief State Counsel, Secretary) and C. B. Ekeh (Principal State Counsel, Legal Counsel)

The announcement read: “In exercise of the powers conferred upon him by Section 2 (1 ) of the Commissions of Inquiry Law of Rivers State (CAP 30) of Rivers State of Nigeria 1999 and all other powers enabling him in that behalf, the Governor of Rivers State; Nyesom Ezenwo Wike, hereby constitutes and appoints a judicial commission of inquiry to investigate the killings and other violent acts/matters that occurred during the December 10, 2016 rerun/supplementary elections to elect members of the National Assembly and House of Assembly in Rivers State.”

He said the Judicial Commission of Inquiry, with full powers and authority, would be inaugurated today and would be expected to hold public hearings and submit its report to the governor within one month from the date of its

first sitting.

He listed the terms of reference of the commission to include to investigate the remote and immediate causes of the violence during the December 10 , 2016 rerun/supplementary elections in Rivers State; identify the perpetrators of the various acts of violence and killings in the aforesaid election; identify the victims of the violence including those killed and also identify if property was damaged and the value of any such property.

The commission would also determine if the violence was localised to specific areas within the state or was state-wide, and also make appropriate recommendations concerning their findings or any other recommendations as the commission may consider appropriate in the circumstance.

In another development, Wike

has again warned against the politicisation of security, noting that this would portend danger for the country.

He also stated that the suspect who allegedly beheaded the Deputy Superintendent of Police (DSP) in Ogba/Egbema/Ndoni Local Government Area (ONELGA) of the state during the Rivers rerun elections was arrested on election day alongside his colleagues and their sponsor, a former commissioner in the state, but an order from above led to their release.

Speaking while granting audience to the management of Sun Publishing Ltd who visited to notify him on his nomination as Sun Governor of the Year yesterday, the governor said that it was after the illegal release that the suspects committed the heinous crime.

IG to Fly in Forensic Experts to Probe Killings, Wike’s Alleged Audio Tape Dele Ogbodo in Abuja The Inspector General of Police (IGP), Mr. Ibrahim Idris, yesterday said the police would engage the services of foreign forensic experts and its crack crime detectives, to probe the killings of DSP Mohammed Alkali, Sergeant Peter Uchi and several others killed during the last Rivers State re-run parliamentary poll.

The experts expected any moment in the country, Idris, said would be mandated to conduct forensic analysis on the voice, audios and recorded tapes purported to be the voice of Rivers State Governor, Mr. Nyesom Wike, as was released in an audio report by Saharareporters during the election.

The police boss, made the disclosure when the Chairman of the Independent National Electoral Commission (INEC), Prof. Mahmud Yakub, paid him a condolence visit on the death of the two police officers during the election. To avoid compromising the outcome of the probe panel which according to him, would be inaugurated today, he said the 14-member panel would be made up of ICT specialists, crime detectives, foreign forensic and voice experts.

He said: “Already, we are getting support from CSOs, experts from outside the country who feel committed that Nigeria should have peaceful elections.

“They are offering support in audio analysis of some these audios that have become viral on

on Facebook and very soon they will be in the country to assist us on some of these audio recordings.”

He vowed that the police would unravel the killers of the two police officers beheaded and several others killed during the election.

He said: “This will ensure that we get to the bottom of this election violence and by the grace of God, Rivers’ election will be the last state that we are going to have this kind of experience.

“And it will never happen again as I have constituted a 14 man panel to investigate and these are officers with different skills to look into all these allegation and at the end we shall have a detailed outcome of the investigation which we shall share with Nigerians.”

The IG, while admitting the successes recorded during the Edo, Ondo, Imo and Kano elections, said the police need the cooperation of politicians, government officials and the electorate to conduct a peaceful election, adding that the police has the responsibility to ensure a successful election in the country.

“If the people in charge of governance, political parties and citizens are not ready to cooperate, we as law enforcers have a responsibility to ensure that election where ever it is held in this country must be peaceful, fair and free.” he said.

While regretting the killings of his officers, he stressed: “As you observed, we lost two of our officers on the day of the election. They were kidnapped, beheaded and bodies buried in shallow graves.”

FACILITY TOUR

L-R: Minister of State for Solid Minerals Development, Abubakar Bawa Bwari; Managing Director, CCNN Plc; Ibrahim Aminu; Group Executive Director, BUA Group, Kabiru Rabiu; Executive Chairman, BUA Group, Abdulsamad Rabiu; and Minister of Solid Minerals Development, Dr. Kayode Fayemi, during a high-level working visit to BUA Group’s Cement Subsidiary, Sokoto Cement plant in Sokoto....yesterday

Abia LG Polls Flounder as Electoral Materials Arrive Late Emmanuel Ugwu in Umuahia The Abia State Independent Electoral Commission (ABSIEC) failed to get its acts right as the local government elections held yesterday was left floundering due to late arrival and in some cases non-arrival of electoral materials at the polling units. The poll which was supposed to commence at 8a.m. commenced between 1p.m. and 4p.m. in most polling units.

In areas where voting eventually commenced, the turn out of voters was very low.

By 5p.m. electoral materials were yet to arrive at three of the wards in Bende Local Government, namely, Itu Mbauzo, Umuimenyi and Uzuakoli spewing allegations by the opposition that there was grand design to starve their strongholds of voting materials.

“The ruling party Peoples Democratic Party (PDP) in the state is trying to play some pranks,”

said Mrs. Joyce Nwabuisi, a councillorship candidate of the All Progressives Grand Alliance (APGA) for Ogbodiukwu ward after waiting endlessly for electoral materials that failed to arrive in all the five polling units of her ward.

Nwabuisi, who is a journalist, lamented that her supporters were being denied the opportunity to express their support for her after mounting a vigorous campaign.

But when contacted on phone, the Chairman of ABSIEC, Justice Igbozuruike Akomas (rtd), dismissed the allegation of starving opposition strongholds of electoral materials, saying that the opposition was fond of criticism.

He insisted that the electoral body printed enough materials and distributed them to all the local governments and if the materials did not get to the intended polling units he was not in a position to know since he was not in the field.

“If the opposition has their facts let them go to court and ask for

annulment. For me, I cannot cancel any election,” he asserted, adding that the tribunal has already been set up to handle issues arising from the poll. At Apumiri, the headquarters of Umuahia South Local Government Area, ad hoc electoral officers were massed outside the gate waiting endlessly for the electoral materials meant for their various areas of assignment.

It was a chaotic scene as a crowd of people jostled to get entry into the premises of the council headquarters where supervisors were said to be sorting out the materials.

The situation was slightly different at the polling unit located at Williams Memorial Grammar School, Afugiri Ohuhu in Umuahia North Local Government as electoral materials arrived at about 11a.m. with a number of voters, including elderly men who waited enthusiastically for voting to commence.

Chairmanship candidate of PDP for Umuahia North, Chidiebere

Nwachukwu, said it was a refreshing development as the state governor; Dr. Okezie Ikpeazu, has kept his word to hold the council poll as promised.

But the deputy chairmanship candidate of APGA for Umuahia South Local Government, said the governor was aware of the plan to starve opposition strongholds of electoral materials, adding that it was an unfortunate development.

“My fear is PDP has ulterior motive,” he said, adding that non-arrival of electoral materials in all the five poling units of Ogbodiukwu ward was not a mere happenstance.

However, the state Publicity Secretary of PDP, Chief Don Ubani, denied any involvement in the alleged starving opposition strongholds of electoral materials.

He stated that if there was any issue of non-arrival or late arrival of electoral materials, it could be due to logistics problem and the electoral body should take responsibility.

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THURSDAY DECEMBER 22, 2016 ˾ T H I S D AY

NEWSEXTRA

Ambode, Bagudu Unveil Lake Rice, 50kg Bag Sells for N12,000 Gboyega Akinsanmi Lagos State Governor, Mr. Akinwunmi Ambode, and his Kebbi State counterpart, Alhaji Atiku Bagudu, yesterday unveiled Lagos-Kebbi Rice (LAKE Rice), which would cost N12,000 per 50kilogram bag.

The duo unveiled the rice at the State House, Alausa nine months after the governments of the two state signed a Memorandum of Understanding (MoU) to produce

70 per cent of Nigeria’s rice requirement.

After unveiling the rice, Ambode said the development was a great and historic moment for both states and Nigeria, noting that the rice “will not only be sold at a highly reduced price, compared to what obtains in the market, but is also very fresh and safe for consumption.

“Today is an historic day for Lagos and Kebbi States. In March 2016, we signed an MOU with an understanding that we, being

FG Declares Monday,Tuesday Next Week, January 2 Public Holidays Dele Ogbodo in Abuja The federal government yesterday declared Monday, December 26, 2016, Tuesday, December 27, 2016 and Monday, 2nd of January 2, 2017 as public holidays to mark the Christmas, Boxing Day and New Year celebrations respectively.

In a statement, signed by the Permanent Secretary, Ministry of Interior, Mr. Muhammadu Maccido, on behalf of the minister, Lt. Gen. Abdulraham Bello Dambazzau (rtd), he enjoined all Christian faithful and Nigerians to support President Muhammadu Buhari’s

efforts in moving the country forward.

The minister in the terse statement, said, the president was committed in building a peaceful, united and prosperous nation. Dambazau, the statement added, also urged Nigerians to use the occasion to pray for peace, unity and peaceful co-existence of every Nigerian across the country.

“The minister wishes all Nigerians at home and abroad a merry Christmas and prosperous New Year, 2017,” the statement added.

proudly Nigeria, want to come out with what is made in Nigeria and what is good for Nigeria.

“We took all that President Muhammadu Buhari said we need to grow our food and we decided that we will prove a point and that is what today is all about.

LAKE RICE is of good quality.”

“The major difference between LAKE RICE and the ones imported is that the imported has a minimum storage of five to six years storage life span, but LAKE RICE is fresh,” explained.

Ambode explained that the partnership would in the nearest future lead to an expansion of production of the rice, saying that Lagos has the largest consumption market.”

He thus gave price breakdown, noting that 50kilogram “will cost N12,000; 25 kilogram will go for

N6, 000 and 10kg for N2, 500.

For now, an individual will only be allowed to purchase a bag to enable it go round.

He also commended President Muhammadu Buhari for supporting the partnership between Lagos and Kebbi, just as he disclosed that the federal government has donated two rice mills to the state government to increase production of rice in 2017.

Also speaking, Bagudu explained how the collaboration started with a discussion between him and Ambode during a meeting in Abuja, saying the partnership was a confirmation of both state governments’ commitment to the agenda of making Nigeria a big market in Africa.

He said while Kebbi “has

comparative advantage in of rice production, Lagos boasts of the largest consumption market.

The LAKE RICE can stand any integrity test in Nigeria.

“Our rice is of quality. I am proud of this joint venture.

We can do more with other commodities like Cocoa, Soya beans and Sorghum. I am very glad we launched LAKE RICE today.”

The Special Adviser on Food Security, Mr. Ganiyu OkanlawonSanni had disclosed the process of purchasing the rice, noting that rice would be available for collection after payment at designated banks or through POS while an individual would only be allowed to buy one bag at a time to make the product reach vast majority of the people.

In Lagos East Senatorial District, Sanni said the rice would be

available for sale at Odogunyan Farm Service Centre in Ikorodu; Temu Farm Service Centre in Epe; Naforiji Town Hall in Eredo; Magbon Alade School in Ibeju and SUBEB Premises in Maryland.

In Lagos West, the special adviser said the rice would be available for sale at LSADA Farm Service Centre, Oko-Baba in Agege; LAISA in Ojo; Coconut House in Mowo; Farm Service Centre, Marina in Badagry and Ikeja Grammar School in Oshodi.

In Lagos Central, the rice would be available for sale at Agric Area Office in Ajah; LASTMA Works Yard in Adeniji/Freeman, Lagos Island; Alakoto Senior High School, Tolu in Ajegunle; Teslim Balogun Stadium in Surulere and Mobolaji Johnson Sports Centre (Rowe Park) in Yaba.

Bua Group’s Subsidiary, CCNN, Nears Completion of New $300million 1.5m mtpa Cement Plant

CCNN discovers coal in commercial quantities in Sokoto Industrial giant, BUA Group’s cement subsidiary in Sokoto State, Cement Company of Northern Nigeria Plc (CCNN), is expecting that its new 1.5million metric tonnes per annum cement plant will be completed before the third quarter of 2017.

This was made known by the Founder/Executive Chairman of BUA Group and Chairman of CCNN, Abdulsamad Rabiu, during a working tour of the plant by the Minister for Solid Minerals Development, Dr. Kayode Fayemi.

Speaking during the visit, Rabiu said the $300 million project which began a few years ago, is the first expansion of the plant since 1986 which BUA group took over majority shareholding in 2010.

He also informed the minister that the group has discovered coal in commercial quantities which it intends to use as fuel for a 40MW power plant being constructed as part of the project.

This new cement factory which can use both coal and LPFO will source its power needs from the plant with the excess power generated to fed to the national grid.

According to Rabiu, BUA’s $300million investment in the new plant is the single largest private sector led investment in the entire North-west Nigeria.

He also highlighted the plant’s export potential with it being 100kilometres to the border with Niger Republic and 200kilometres to the border with Benin Republic, which according to him, will help the country earn much needed foreign exchange and diversify

the economy further.

In his response, Fayemi commended BUA Group and Sokoto Cement for their contributions to various areas of national development, while stating that CCNN is the second-largest employer of labour in Sokoto State – second only to the state government.

He commended the company for successfully exploring for coal in the Sokoto area and reiterated the federal government’s resolve to support sustainable investments in the solid minerals sector which would in turn have immense positive impact on Nigeria and Nigerians.

CCNN, also known as Sokoto Cement, was founded by the Premier of the then Northern Region,Sir Ahmadu Bello, the Sardauna of Sokoto.

It was incorporated in 1962 and commenced production in 1967, with a capacity of 100,000 tonnes per annum at that time.

In 1985, a new production line of 500,000 tonnes was added and inaugurated by the then Head of State, Major General Muhammadu Buhari.

Thereafter, in 1986, the first line was shut down due to its uneconomic mode of operation, thus leaving the plant with a rated output of 500,000 tonnes per annum.

The company has however undergone various stages of privatisation and changes of ownership since inception until BUA Group took over majority shareholding in 2010 thus bringing it under the larger BUA Umbrella.

HOME GROWN RICE IS READY

Lagos State Governor, Mr. Akinwunmi Ambode (middle); Kebbi State Governor, Alhaji Atiku Bagudu (second left); Secretary to the State Government, Mr. Tunji Bello (left); Deputy Governor, Mrs. Oluranti Adebule (second right) and Attorney General and Commissioner for Justice, Mr, Adeniji Kazeem, eating Lake Rice during the official launch at the Banquet Hall, Lagos House, Ikeja....yesterday

Ondo Poll: Akeredolu Lauds Jegede, Oke for Not Challenging Result James Sowole in Akure For not challenging the results of the November 26 gubernatorial eletction the Ondo State Governorelect, Chief Rotimi Akeredolu, has commended his opponents at the last election in the state for accepting the result of the election in good faith.

The time to file petitions at the Election Petition Tribunal on the said exercise, lapsed on December 18, 2016, 21 days after the announcement of the result of the poll and none of the contestants filed a petition against the winner

of the poll.

Speaking at his hometown, Owo, the headquarters of Owo Local Government Area of the state, Akeredolu reiterated that the election was free and fair.

Specifically, the governor-elect commended Mr. Eyitayo Jegede (SAN) and Chief Olusola Oke of the Peoples Democratic Party (PDP) and the Alliance for Democracy (AD) respectively, saying the duo had displayed good sportsmanship spirit by not challenging the result of the election. “I have to praise my co- contestants, especially, Jegede and Oke. I am sure that they have

seen, as senior lawyers, that we are in a position to accept the result of an election, having assessed all the parameters, we believe the election was free and fair and I want to believe that their attitude is worthy of note and all of us, at least should try to emulate that in subsequent elections.

“They must have weighed all the options that there must have been substantial compliance to Electoral Act by deciding not to challenge the result, that is a decision that is worthy of note and I want to thank them,” he said.

Akeredolu said having no case at the tribunal would enable him

concentrate on governance after his swearing in.

He also lauded the Independent National Electoral Commission (INEC) and the security agencies for the smooth conduct of the election.

He said the electoral commission was moving towards the level of acceptable elections in the country.

“It is not because I won the election, I believe INEC is perfecting its act, they are moving towards the level of acceptable election. If they (INEC) get to that level, so many more elections will not be contested at the tribunal,” the governor-elect stated.

South-east Senators Boycott Enugu Economic Summit Omololu Ogunmade in Abuja The Senate South-east caucus yesterday said it would boycott today’s town hall meeting billed to hold in Enugu to be graced by President Mahammadu Buhari.

The president is scheduled to hold economic and security summit with South-east stakeholders.

According to Chairman of the caucus, Senator Enyinnaya Abaribe, South-east senators would shun the town hall meeting because there was no adequate consultation with the caucus over the summit.

“The South-east Senate caucus will not be attending having not been adequately consulted.

Again it is the view of the caucus that what the South-east needs

is development and not to be tagged with any other issue like security.

“South-east has been utterly neglected and marginalized over time especially with regards to addressing factors that stimulates development including the place of Ndigbo in the present administration.

“So if we are to hold a town

hall meeting the agenda must be restricted to purely development of the region. The agenda must be articulated to address the issues as highlighted. This has not been done That is where the issue of lack of adequate consultation comes in,” he said.

Abaribe further advised that whatever needs be done must be done in the overall interest of the South-east region.

THURSDAY DECEMBER 22, 2016 ˾ T H I S D AY

53

CRIME&PUNISHMENT SON Impounds Two Containers of Substandard Energy Saving Bulbs Vows to prosecute erring importers Crusoe Osagie The Standards Organisation of Nigeria (SON) has seized two containers loaded with substandard energy saving bulbs, noting that this move by the agency is coming on the heels of its zero tolerance for substandard products, while also safeguarding lives and property in the country.

The Director, Inspectorate and Compliance, Bede Obayi, explained that the importers of these substandard energy saving bulbs are out to cheat the unsuspecting Nigerian consumers, maintaining that after carrying out series of laboratory tests on the bulbs displaying 85watts capacity, the agency discovered that the bulbs could only do 25 watts representing less than 30 per cent of the rated value of the bulbs.

Obayi expressed concerns over the continuous unscrupulous activities by these not well-meaning importers, saying that the agency under its new leadership of Aboloma Osita, is out to safeguard and protect the lives of innocent Nigerians in the country.

He, however, stated that courtesy of its new Act of 2015, has given the agency prosecutorial powers to prosecute erring importers of fake and substandard goods, saying that this would serve as a deterrent to other importers who engage in the illicit trade.

“Our new act has given us prosecutorial powers to prosecute.

This is why the new the Director General has said that under his watch, prosecution of these erring importers must be a priority. This will serve as a deterrent to other importers of fake and substandard

goods in the country to desist from the nefarious act. The act is out there to protect Nigerians. SON is out to say enough is enough to economic sabotage,” he added.

In his words, “We have two brands of energy saving bulbs whose names are ART and Tonobo bulbs. The two containers of these bulbs were intercepted by our men who are policing thehighways and our intelligent officers at the port who alert our enforcement officers whenever they suspect a container. These bulbs are rated 85 watts, but when we took samples of these bulbs

to our laboratory for testing, we discovered that they are only 25 watts which is less than 30 per cent of the rated value of the bulb. The unsuspecting Nigerian consumers are buying these bulbs thinking it is 85 watts not knowing it is just 25 watts. This is not acceptable by SON, especially under the new leadership of the Director General of SON, Dr. Aboloma Osita, who does not accept substandard in any way to come into the country.”

He restated the agency’s commitment to combating the influx of fake and substandard

goods into the country, adding that there will be no hiding place for importers who still indulge in the act of short changing Nigerians of their hard earned money.

“Anywhere we have information about substandard products in the country, we will go after it.

We are determined to bring down the level of substandard products in circulation to the barest minimum and if possible, total eradication,” he said.

According to him, “When we finished the test, we discovered that these bulbs are far below the

rated value and we also evacuated four extra trucks of these bulbs we got from the warehouse where these bulbs were kept. All our state offices are alert to go after these bulbs wherever we see them and when we see them, we destroy them to prevent them from getting into our markets. We cannot allow consumers of this country to be cheated. We have said that if you are selling 85 watts, the bulbs must show 85watts when we do our test, but if this is otherwise, it means you are cheating the consumers. Enough is enough for these wrong labellings and cheating of consumers.”

Yuletide: Kano Police Promise Adequate Security Ibrahim Shuaibu in Kano Ahead of the Christmas and New Year festivities, the Kano State Police Command yesterday assured members of the public that adequate security arrangements had been put in place in the state.

The state police spokesman, DSP Magaji Musa Majia, in a statement made available to THISDAY, said the command remained combat-ready.

Majia said the command promised that places of worship, motor parks, markets, roads, shopping malls, recreation centers and all public places would be adequately protected.

He noted that both covert and overt operatives would be deployed strategically and therefore, urged members of the public to support and cooperate with the police and all other security agencies in achieving these prime objectives.

“For a hitch-free celebration, the police advised members of the public to avoid the unlawful use of fireworks, popularly called bangers or knockouts, burning of tyres by youths before, during and after Christmas and New Year celebrations.”

Also, the police advised parents and guardians to warn their wards, as the command would not hesitate to arrest and prosecute any person found flouting the law.

Furthermore, it called on road users to continue to abide by all traffic-rules and regulations, as well as exhibit discipline by avoiding car racing, unsecured loading and operating unserviceable vehicles. ‘’Each and every person in the state is advised to be security conscious and report any strange person(s) or item(s) to the nearest police station for necessary action.

Video of Maltreatment of Soldiers Shot Six Months Ago, Says Army Paul Obi in Abuja The Nigerian Army yesterday debunked claims on a recent online video depicting the maltreatment of army officers fighting the Boko Haram insurgency in the North-east.

According to the army, the said video was an old one shot six months ago which has adequately been addressed.

Director of Army Public Relations, Brig Gen Sani Usman, explained that the circulation of the video six months after it was shot was mischievous and a calculated attempt to feed the public with misinformation.

He said: “The attention of Nigerian army has been drawn to a video clip circulating on social media of soldiers alleging lack of food and water.

“We wish to state that the video clip was shot more than six months ago by some

mischievous and disgruntled elements when 29 Task Force Brigade captured Alagarno forest and environs in Borno State.

“It is disheartening that some mischievous elements have decided to circulate it now, creating the false impression that it is a recent occurrence.”

Usman further argued that “the matter was conclusively investigated at that time, several months ago. The board of inquiry actually showed that as at the time of the incident, the unit’s water tanker still contained water, but a soldier mischievously concealed it.

That soldier was charged and punished accordingly.

“In addition to the unit’s water tanker, a borehole was subsequently drilled at the location and it is still serving both the military and adjoining communities.

“We wish to restate with utmost concern the continued commitment of the Nigerian army to the total

PENSIVE INMATES

A cross-section of prisoners at the Yobe State...yesterday

Traditional Ruler Abducted in Delta Sylvester Idowu in Warri The Ovie (traditional ruler) of Agbarha-Warri Kingdom, Orhifi Orovwagbarha Agbarha-Ide Ememoh II, was yesterday abducted along the Ughelli-Asaba Road.

THISDAY checks revealed

last night that the monarch was kidnapped by unknown gunmen around Ossissa community in Ndokwa-East Local Government Area of the state.

The royal father was said to be on his way to Asaba for a security summit when he encountered the

abductors.

Security sources said the kidnappers have already demanded a N50 million ransom for his release.

Delta State Police Public Relations Officer, DSP Andrew Aniamaka, said the abduction was sad, promising that the command

had started an investigation into it.

“Police is doing everything humanly possible to unravel the mystery surrounding it. Even the high command here is on the red alert, everything is being done to... This is unacceptable,” he said.

Bayelsa Lawmakers Call for Military Deployment over Killing of Youth Emmanuel Addeh in Yenagoa The Bayelsa State House of Assembly yesterday unanimously called for the deployment of military personnel in Ozizebiri, Southern Ijaw, Bayelsa State, after the violence that followed the killing of a 22-year-old boy by a soldier.

It was learnt that at least three houses were set ablaze in the community in retaliation against the stabbing of the young man by a new military recruit over a debt of N50.

Confirming the development on the floor of the House of Assembly, the member representing Southern Ijaw constituency 2, Mr. Monday Obolo, said the killing of the boy

had led to a reprisal attack and the burning of houses.

According to Obolo, though the traditional rulers and elders were trying to resolve the matter, angry youths from Opuama, he alleged, had invaded the alleged killer’s community.

Obolo, who received unanimous support from members of the House, called on security agencies in the State to deploy armed troops to the area to avoid total breakdown of law and order.

THISDAY learnt the soldier allegedly owed the younger sister of the deceased the debt after he bought local bread known as Madiga from her and refused to pay.

The soldier identified as

Ayibakare Oguo, 26 , stabbed the deceased following an argument that ensued when he beat the young girl who had gone to collect her money from her debtor.

According to community sources, the victim identified as Princewill, an indigene of Opuama community in the same local government, was stabbed severally during the fight with the security personnel.

“The accused Ayibakare was alleged to have beaten up the younger sister of the deceased over N50 madiga he bought on credit.

“So, in anger, the deceased went to him to inquire why his sister was beaten up and a fight ensued and that was how the deceased was stabbed to death” , he said.

Meanwhile, a seven-year-old boy

identified as Prosper Eta, was on Wednesday crushed to death by a sand-carrying truck in Yenagoa, Bayelsa State.

It was gathered that the incident happened at 12.10 p.m. on Goodnews Street, Azikoro Village, in the state capital when the deceased was running an errand for his mother.

The late Eta, who lived in the area, was reportedly trying to cross the road to deliver a pack of nylon bag to a fish seller across the road when he met his untimely death.

The victim on crossing the road didn’t see an approaching truck from the other side.He tried to run back from the scene but was knocked down by the truck front tyres.

54

Ë&#x153; ͺͺË&#x153; ͺ͸͚͞ Ëž T H I S D AY

THURSDAYSPORTS

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

CAF Competitions: Tough Draws for Rangers, Rivers Utd, Others Duro Ikhazuagbe Nigerian club-sides listed for actions in 2017 CAF club competitions were handed tough oppositions in the draws conducted in Cairo, Egypt yesterday. Â Nigerian Professional Football League (NPFL) champions Rangers International FC of Enugu who are to fly the countryâ&#x20AC;&#x2122;s flag in the continentâ&#x20AC;&#x2122;s premier club competition- the CAF Champions League, were paired with JS Saoura of Algeria in the preliminary round of the 2017 edition.

If the Flying Antelopes scale the hurdle posed by the Algerian team, they are scheduled to meet Egyptian giants, Zamalek in the next round.

Similarly, NPFL runners-up, Rivers United FC were handed AS Real de Bamako of Mali challenge in the preliminary round of the Champions League.

The Rivers State government owned United who were on playing tour of Spain as part of their preparations for the continental debut, are to meet the winner of the clash between Sony Ela Nguema of Equatorial Guinea and El-Merreikh of Sudan.

No Nigerian club has won the CAF Champions League since Enyimba defended the title in 2004. The former NPFL champions Enyimba made the group stage of the CAF Champions League last season but exited after the group stage.

In the CAF Confederation

Cup, Bauchi club, Wikki Tourists, will be up against Sierra Leone opponents RSLAF FC. Wikki will clash with Tunisian side Club Africain if they can shake off RSLAF in the next round.

Federation Cup winners, FC Ifeanyiubah, will have a Herculean task to edge past Egyptian side Al-Masry. Should the Nnewi club gets past Al-Masry, they will meet Malian side FC Djoliba in the next round.

Meanwhile, Rivers Unitedâ&#x20AC;&#x2122;s pin up boy, Bernard Ovoke is relishing the prospect of playing  against some of the finest footballers on the continent. â&#x20AC;&#x153;We are ready for the Champions League. No one here is afraid (of facing the big teams). â&#x20AC;&#x153;The pre-season preparations we had this year has been excellent and we are assuring Nigerians that we will do them proud next year,â&#x20AC;? he told the clubâ&#x20AC;&#x2122;s website before the draws.

United will be motivated by the prospect of not only competing against the best but also going for the increased financial rewards in a new format which has seen the prize money increasing by 66.6 percent to $2.5 million (N788 million) for the champions. The runners-up will receive $1.25 million (N394 million), semifinalists $875,000 (N276 million), quarter-finalists $650,000 (N205 million) and the eight group stage qualifiers who fail to make the knockout stage $550,000 (N173 million) each.  CAF has cut the two-leg

Rangersâ&#x20AC;Ś back to the continent qualifying phase from three rounds to two and doubled the number of qualifiers for the mini-leagues from eight to 16. Â The first leg of the preliminary round will be played between February 10 and 12 while the second leg will be from February 17 to 19. The first round will run from March 10 to 12 with the second leg billed for March 17-19.

Title-holders Mamelodi Sundowns of South Africa is

among eight previous winners of the CAF Champions League who will compete in the next yearâ&#x20AC;&#x2122;s competition. Only Al Ahly (Egypt), TP Mazembe (Democratic Republic of Congo) and Enyimba (Nigeria) have staged successful defences since the 1964 launch of the Champions League.  Ahly (2005-2006 and 2012-2013) and Mazembe (1967-1968 and 20092010) twice won back-to-back titles.

Glitz, Glamour as Guild Honours Veteran Sports Journalists Some of the biggest names in Nigeriaâ&#x20AC;&#x2122;s sports journalism were honoured Tuesday night in Lagos when the Guild of Sports Editors rolled out red carpet for them.

At the well-attended event, Chairman of Nigeriaâ&#x20AC;&#x2122;s only sports radio Brila FM, Dr Larry Izamoje, AIPS Africa President, Mr. Mitchell Obi, Chairman of HS Media Group, Mr. Taye Ige, Group Managing Director of Complete Communications,

publishers of Complete Sports, Immediate past Deputy Editor In Chief/ Head of Sports at NAN, Mr. Tony Nezianya; General Manager of SuperSport (West Africa), Felix Awogu; Veteran NTA Sports Journalist, Paul Ogazi, GM (Special Publications) Sun, Mr Kunle Solaja; Â and a host of others were physically present at the highbrow RealWorth Hotels and Suites in Agidingbi, Ikeja to receive their awards.

AIPS chief, Obi,  spoke more than French, he also danced away the night, Emeka Obasi, the Managing Editor of New Telegraph could not hide his excitement at being honoured while alive. â&#x20AC;&#x153;We are used to only remembering the good deeds when that person is gone but for the guild to honour us while still alive is a very good one. Kudos to the organisers of the award.

L-R: Chairman of Sports Radio Brila FM, Dr Larry Izamoje; AIPS Africa President, Mr. Mitchell Obi; and President of the Guild of Sports Editors, Mr. Tony Ubani at the Night of Excellence Awards in Lagos on Tuesday night

President General of Nigeria Football Supporters Club, Dr Rauf Ladipo and his band of cheer leaders added glamour to the night with melodious tunes. It was indeed a night worth tagged excellent. Speeches were many. Almost every recipient recalled the good old times of sports journalism in the country with nostalgia. It will be meaningless recounting them all.

There were also goodwill messages from former NFF President, Alhaji Ibrahim Galadima and the man currently in the saddle,  Melvin Amaju Pinnick. Chief Taiwo Ogunjobi also sent his goodwill message.

Chief of Staff to Imo State Governor, Ugwumba Uchendu Nwosu, who was honoured  was so overwhelmed by the occasion that he pledged that the next Night of Excellence will be held December 20, 2017 in Owerri. It was indeed a night that all sports editors in Nigeria have to be proud of. â&#x20AC;&#x153;We remain committed to best practices in journalism and we will do all to ensure that the Guild of Sports Editors work with the NUJ to take Nigeria sports journalism to the next level â&#x20AC;&#x153;, concludes  President of the Guild, Tony Ubani.

Merry Xmas for Eagles as they Get Algeria Win Bonus Super Eagles will enjoy a merry Christmas as they will be paid their win bonus of $5,000-a-man for a 3-1 home win over Algeria in a World Cup tie latest Friday, top football officials hinted yesterday.

The top team official admitted compiling the account details of the players at the Nigeria Football Federation (NFF) office yesterday.

The players will be paid in Naira at the official rate of 305 Naira a dollar, meaning they will each pocket N1,525,000 each.

The Eagles bonus was part of the most recent government

bailout that paid the Super Falcons for winning a record eighth womenâ&#x20AC;&#x2122;s AFCON in Cameroon recently.

However, no mention was made of the win bonus for the 2-1 win in another World Cup qualifier in Zambia in October.

The win bonus is also $5,000-a-man.

Nigeria leads the World Cup qualifying Group B with six points from two matches.

Cameroon is second with two points from as many matches.

Zambia and Algeria have recorded a point apiece.

ACCESS BANK LAGOS CITY MARATHON

Organisers Sign Two Pacemakers to Achieve Sub-2.10 Determined to get the elite male and female runners to run inside 2.10 minutes and 2.20 minutes respectively, the organisers of the February 11, 2017 Access Bank Lagos City Marathon have signed on two pace-makers for the second edition of the race.

According to General Manager, Yussuf Alli, the two pace makers are Imiron Kirwa, winner of the 2009 Hamburg Half Marathon and Vienna Marathon both in 2009 with personal best of 2:06:14 and Elkana Kiptum Ruto with 2:24:00.

Alli revealed that the two pacemakers will exit the race at 36 kilometers of the 42. 192 kilometers race. â&#x20AC;&#x153;We want our race to be ranked among the worldâ&#x20AC;&#x2122;s elite races before our fifth edition. This is why we are using the pacemakers so that our elite men can run inside 2 hours.

10 minutes and the elite women inside 2 hours. 20 minutes. If we can achieve this in our second edition, with our weather, the world will salute us, and that will improve our ranking from the current number 71 in the world. Our aim is the top 20 in the world by the fifth edition,â&#x20AC;&#x2122;â&#x20AC;&#x2122; observed the former Team Nigeria captain.

Alli dismissed fears being entertained in some quarters that the pacemakers may break the agreement if at 36 kilometers; other runners are still far behind, â&#x20AC;&#x153;It will never happen because we have a contract with them that they must stop at the 36 kilometers mark. Peradventure they decide to break the agreement, they will not be entitled to any prize money, and they will also wear a different running bib which clearly identifies them as pace makers,â&#x20AC;&#x2122;â&#x20AC;&#x2122; he further clarified.

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MISSILE Sabi Abdullahi to Ali Ndume For every line of command, there is a line of communication. For the record, the leader that I know is Saraki and the administrative leader is the clerk of the Senate…there is no ambiguity in what we said Senate spokesman, Sabi Abdullahi disputing the claims by Senate Majority Leader, Ali Ndume, while reaffirming the rejection by the Senate of the confirmation of Ibrahim Magu as EFCC Chairman

OLUSEGUNADENIYI Christmas in a Time of Recession THE VERDICT

olusegun.adeniyi@thisdaylive.com

T

hat most Nigerians are going through one of the most depressing periods of their lives is to put the situation mildly. Indeed, there are perhaps only few people in our country today not affected by the economy and the seeming hopelessness that pervades the land. What compounds the problem is that there is no sign in the horizon that the challenge will go away quickly given the choices being made (or perhaps more appropriately, not being made) by those elected to preside over our affairs.

To be honest, this is not the kind of piece I planned to write today. I had wanted to write something to lighten the mood as we enter the festive season. But I feel too depressed by the pervading despondency that I see around me to pretend all is well. Last week, I received the mail below from a young reader in Yobe State who pleaded with me to intervene on an issue involving the Bank of Industry. Since the writer, Musa Sule Damagun, made his case and that of his colleagues so brilliantly, I will just reproduce his mail before I make my comments.

While it is targeted at a specific issue, we can use the experience to look at the state of the national economy today and the growing frustration by our teeming army of young Nigerians: “Early this year, I applied for the federal government Youths Entrepreneurship Scheme (YES) programme under the Bank of industry along with 75,000 other Nigerians in which we submitted business ideas. At the end of the first process, about 3000 applicants were selected and I was one of them. The initial advertisement was that the FG was going to finance the best business ideas through a loan of N5 million to be disbursed by BOI. The conditions were that apart from being a Nigerian, one has to be ready to deposit his/her certificate with the BOI as collateral.

“So immediately after the selection, we were enrolled into an online business training conducted by a Kenyan firm, Africa Management Initiative. That intensive training required many of us in the northeast to relocate to bigger cities where we could access the internet since Boko Haram has vandalized communication facilities in many of our towns. During the online training, we took over 20 courses, wrote exams and submitted assignments for each.

Then after the online training, we were again called to attend in-class training for five days in our state capitals. In all these, we had to take care of our transportation and accommodation expenses. The explanation initially was that after the training, we were just going to apply for the loan and deposit our certificates.

“However, the BOI staff at the training began to bring up different stringent conditions to accessing the loan. Every business idea you have, regardless of what you submitted during your first application, must be about producing something e.g bread, milk, oil etc.

You must bring a guarantor who must have a net worth equal to the amount you are asking for. You must have a business structure in which you are already producing something and attach account statement to

Minister of Finance, Kemi Adeosun show your cash flow. And BOI has to visit and assess this business structure before it approves your application. You have to take care of your pre-operating expenses like business registration, rent, logo design as well as registration with regulatory bodies like NAFDAC and SON. “Finally, even after meeting all the above conditions, BOI will not give you the money in cash. They can only give you your working capital while they will buy the equipment you need. So you have to find suppliers of the kind of equipment you need and ask them to give you quotation and then you send to BOI. “Given the following stringent conditions, it has become very difficult, if not impossible, for those of us from the North, and perhaps many people also from the south, to access the loan. I know for a fact that of the 24 of us who were successful from Yobe State, none has met the conditions yet. Also, of the 50 that participated in the first badge from Kano State, none got the loan after being subjected to a rigorous process yet we have brilliant ideas and are confident our ideas are bankable. The challenge is in meeting the BOI requirements.

We therefore want you to intervene on this issue. I am sure if you do, someone will take notice and do something.”

In a country where many unscrupulous people walk in and out of banks to collect billions of Naira without collateral, it is rather unfortunate that needless impediments are being put on the way of young men and women who are seeking to create wealth and possibly become employers of labour. I therefore hope

that the authorities at the BOI will look into this issue; otherwise, we would be forced to dismiss their YES programme as no better than another 419.

However, we can locate the problem in the manner President Muhammadu Buhari is running his administration. With no substantive chief executive and without a board, there is little the BOI can do and that tells the story of many of the critical public institutions where there are no new initiatives or fresh ideas because the president cannot constitute their statutory boards more than a year and a half after assuming office.

The case of the Central Bank of Nigeria (CBN) which also has no board is the most pathetic. We are now told by the Finance Minister, Mrs Kemi Adeosun that Nigeria’s apex bank “has been directed to eliminate the foreign exchange black market because it is damaging the economy”. Beyond the shame of running monetary policy from the Ministry of Finance or Aso Rock, this is a silly proposition that we all know cannot work.

Even if you send soldiers to the streets to be chasing the “currency mallams”, to the extent that Nigerians would still need forex to pay for their medicals, send their children to school abroad etc and the federal government cannot manufacture dollars, the only option would be to seek out the black market operators. And once you declare them illegal, they will quite naturally go underground. At that point, if you need forex from the only source in which it is available, the law of demand and supply will apply and the exchange rates would simply go through the roof!

What worries about this administration is that there is an obsession with dealing with symptoms rather than the disease in virtually all areas of the economy. For instance, taking a cue from Abuja, job creation has been reduced to adding more names to the wasteful public sector payroll at a time of dwindling oil money.

“To ensure that nobody goes to sleep with an empty stomach, I shall appoint 6,000 aides, create 3,000 jobs for youths and in January 2017, I will also create 50,000 jobs to make sure nobody in the state is unemployed”, said Cross River Governor Ben Ayade.

However, I believe these are issues we can deal with another day. While the national atmosphere is really very depressing, some of us still have cause to celebrate this season

Even if you send soldiers to the streets to be chasing the ‘currency mallams’, to the extent that Nigerians would still need forex to pay for their medicals, send their children to school abroad etc and the federal government cannot manufacture dollars, the only option would be to seek out the black market operators. And once you declare them illegal, they will quite naturally go underground

as I leave the story below for the benefit of my Christian readers, so that we may still remember what Christmas is all about: We were the only family with children in the restaurant. I sat Erik in a high chair and noticed everyone was quietly seated and talking. Suddenly, Erik squealed with glee and said, “Hi there.” He pounded his fat baby hands on the high chair tray.

His eyes were crinkled in laughter and his mouth was bared in a toothless grin as he wriggled and giggled with merriment.

I looked around and saw the source of his merriment. It was a man whose pants were baggy and whose toes poked out of would-be shoes. His shirt was dirty and his hair was uncombed and unwashed. His whiskers were too short to be called a beard, and his nose was so varicose that it looked like a road map. We were too far from him to smell, but I was sure he smelled. His hands waved and flapped on loose wrists. “Hi there, baby; Hi there, big boy; I see ya, buster,” the man said to Erik.

My husband and I exchanged looks, “What do we do?” Erik continued to laugh. Everyone in the restaurant noticed and looked at us and then at the man. The old geezer was creating a nuisance with my beautiful baby.

Our meal came and the man began shouting from across the room, “Do ya patty cake? Do you know peek-a-boo? Hey, look, he knows peek-a-boo.” Nobody thought the old man was cute. He was obviously drunk. My husband and I were embarrassed. We ate in silence but not Erik, who was running through his repertoire for the admiring bum, who in turn, reciprocated with his cute comments.

We finally got through the meal and headed for the door. My husband went to pay the check and told me to meet him in the parking lot. The old man sat poised between me and the door. “Lord, just let me out of here before he speaks to me or Erik,” I prayed. As I drew closer to the man, I turned my back, trying to sidestep him and avoid any air he might be breathing. As I did, Erik leaned over my arm, reaching with both arms in a baby’s “pick-me-up” position.

Before I could stop him, Erik had propelled himself from my arms to the man’s. Suddenly, a very smelly old man and a baby expressed their love and kinship. Erik, in an act of total trust, love, and submission, laid his tiny head upon the man’s ragged shoulder. The man’s eyes closed, and I saw tears hover beneath his lashes. His aged hands full of grime, pain, and hard labour, cradled my baby. No two beings have ever loved so deeply for so short a time. I stood, awestruck.

After a while, he pried Erik from his chest lovingly, as though he were in pain.

I received my baby, and the man said, “God bless you, ma’am; you’ve given me my Christmas gift.”

I said nothing more than a muttered thanks. With Erik in my arms, I ran for the car. My husband was wondering why I was crying and holding Erik so tightly and why I was saying, “My God, my God, forgive me.” I had just witnessed Christ’s love shown through the innocence of a tiny child who saw no sin, who made no judgment. The child saw a soul, and his mother saw a suit of clothes. I was a Christian who was blind holding a child who was not…

I wish all my readers merry Christmas!

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