Wednesday 25th January 2017

CBN Includes Power Firms in 60% FX Allocation, Retains MPR at 14% Foreign reserves rise to $28.9bn, MPC urges quick passage of 2017 budget

Ndubusisi Francis in Abuja and Obinna Chima in Lagos Desirous of revamping the country’s ailing power sector, the Central Bank of Nigeria’s (CBN) Monetary Policy

Committee (MPC) yesterday told commercial banks and other authorised dealers in the foreign exchange (FX) market to include electricity companies in its FX allocation policy, which provides that 60

per cent of total FX inflows from all sources (interbank inclusive) should be channelled to the manufacturing sector.

This is just as the MPC, at the end of its first meeting in 2017, resolved to retain its

monetary policy instruments.

The MPC kept the Monetary Policy Rate (MPR) unchanged at 14 per cent, the cash reserve requirement (CRR) at 22.5 per cent, held the liquidity ratio at 30 per cent, and retained

the asymmetric corridor at +200 and -500 basis points around the MPR. Briefing journalists in Abuja, at the end of the 111th meeting of the MPC, the CBN governor, Mr. Godwin Emefiele, urged

operators in the power sector to take advantage of the priority FX allocation given to the real sector to enhance their operations.

Continued on page 9

EFCC Accuses Bank Executive of Laundering Funds for Alison-Madueke ...

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Wednesday 25 January, 2017 Vol 22. No 7951. Price: N250

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Senate Stands by Resolution Calling for Babachir’s Sack, Agrees to Screen Magu Uproar as Senator Shehu Sani accuses presidency of hypocrisy, lies Says Buhari’s letter clearing SGF is funeral for anti-graft war Omololu Ogunmade in Abuja The Senate yesterday said it would screen the acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, in accordance with legislative procedures, but elected to stand by its resolution calling

for the sack of the Secretary to the Government of the Federation, Mr. Babachir Lawal.

The decision of the Senate was made known by its spokesman, Senator Sabi Abdullahi during a press Continued on page 8

Railway Concessions: FG Starts Evaluation of Bids Submitted by GE, Four Others

US conglomerate offers to refurbish, invest in refineries Tobi Soniyi, Dele Ogbodo and Chineme Okafor in Abuja The federal government has commenced the evaluation of bids submitted by General Electric (GE) and four other companies in order to determine which company would emerge as the concessionaire of the 3,500km Lagos-Kano and Port Harcourt-Maiduguri narrow gauge railway lines, THISDAY

has learnt.

Authoritative sources in the Ministry of Transportation and the Nigeria Railway Corporation (NRC) revealed that at the close of submission of bids on Monday, the five bidders who applied were being scrutinised to assess their technical and financial competence to operate the railway lines.

Continued on page 9

GOVT FORUM FOR SMALL BUSINESSES...

R-L: Acting President Yemi Osinbajo; Abia State Governor, Okezie Ikpeazu; Kwara State Governor, Abdulfatah Ahmed; and Minister of Information and Culture, Lai Mohammed, during the launch of a micro, small and medium enterprises clinic, held at the Presidential Villa, Abuja… yesterday godwin omoigui

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WEDNESDAY, JANUARY 25, 2017 • T H I S D AY

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EFCC Accuses Bank Executive of Laundering Funds for Alison-Madueke

Davidson Iriekpen A Federal High Court in Lagos was informed yesterday that an Executive Director of First Bank of Nigeria Limited (FBN), Mr. Dauda Lawal, laundered funds on behalf of the former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke.

The counsel representing the Economic and Financial Crimes Commission (EFCC), Mr. Rotimi Oyedepo, made the revelations while responding to a counter-affidavit submitted

by Lawal.

Lawal is seeking to discharge an interim forfeiture order for the sum of N9.08 billion.

Justice Muslim Hassan had on January 6, issued an interim order of forfeiture of the said sum to the federal government, following an ex parte application by the anti-graft agency seeking similar relief.

The EFCC had initiated the ex parte application seeking an interim order for the

temporary forfeiture to the federal government of the sum, which it claimed was linked to Alison-Madueke.

The court had also issued 14 days to any interested party to appear and prove the legitimacy of the monies, failing which the funds would be permanently forfeited to the federal government.

At the resumed hearing of the case yesterday, Mr. Charles Adeogun announced appearance for Lawal who was joined as the respondent in the suit.

On the other hand, Oyedepo announced his appearance for the EFCC. He informed the court that in line with its interim orders of January 6, the EFCC had served same on Lawal.

He also informed the court that the order was also published in the Independent Newspaper of January 12, in compliance with the orders of the court.

In response, the counsel to

Lawal, (Adeogun) confirmed the position, but added that he had filed a counter-affidavit deposed to by Lawal, challenging the said forfeiture order.

Arguing his application, he urged the court to issue an order, directing a refund of the sum of N9.08 billion to his client on the grounds that the amount was obtained by coercion.

He argued that before such forfeiture order can be made, two essential elements must be satisfied, namely: “That the property in question is unclaimed, and that such property or funds form proceeds of an unlawful act.”

He said: “We became aware of the forfeiture order when the interim order was served on us.

My client was never confronted with these sets of facts during his incarceration at the EFCC. “After the service of the order, I requested for the statement of my client to the commission, but same was never given to me.”

He argued that his client

admitted having received the sum of $25 million in clear dispensation of his duties, but was coerced by the commission to further admit to receiving a total of $65 million.

According to him, the sum of $40 million was therefore taken as an over draft from his bank to offset the alleged extra sum.

He therefore urged the court to order the immediate refund of the sum to his client.

In his response, Oyedepo submitted that the tenure of Section 17 of the Advanced Fee Fraud and Other Related Offences Act makes a property which is reasonably suspected to be proceeds of crime, forfeitable to the federal government.

He queried: “Going by the facts and circumstances of this particular case, can it be said that the sum of N9.08 billion, which is the naira equivalent of $40 million, was not reasonably suspected to form the proceeds of a crime?”

He argued that Paragraph 4 of the applicant’s reply affidavit showed a meeting of the minds of some staff of the Nigeria National Petroleum Corporation (NNPC) as well as the respondent to launder funds.

“My Lord, Paragraph 4 of our reply affidavit shows a meeting of the minds of one Gbenga Komolafe, former Group MD (sic), Crude Oil Marketing Division, NNPC; Prince Haruna Momoh, former Group MD Petroleum Product Marketing Company; Umar Farouk Ahmed, Group MD, Nigerian Product Marketing Company, as well as Lawal, to launder funds on behalf of former petroleum minister, Diezani Alison-Madueke.”

According to Oyedepo, “It will amount to contesting the obvious for Lawal to argue that he had no knowledge of the said sums.

Oyedepo argued that it was uncommon for a law

enforcement agency like the EFCC to detain a person in its custody in perpetuity without an order of the court, adding that the statement of Lawal was lawfully obtained.

“The respondent was duly cautioned before he voluntarily made his statement at the commission and his lawyer even appended his signature further attesting to the fact that the statements were obtained voluntarily.

“So having freely volunteered a statement, he cannot urge my lord not to attach full probative value to his statement.

“I submit that the appropriate order in the circumstances is for the court to order a final forfeiture of the sum of N9.08 billion already surrendered by the respondent to the federal government. I urge the court to so hold,” he said.

After listening to the submissions of both counsel, Justice Hassan fixed February 16 for judgment.

campaign is not compromised or called to question.

“As the Distinguished Senate, you will recall the prosecution of the anti-corruption war in all aspects of our polity is a programme to which my administration has committed itself since our inauguration on May 29th, 2015.

“In undertaking this campaign, we have been guided by the need for urgency, consolidation and improvement of our present statutory framework for addressing the scourge of corruption in our country as well as taking the benefits of institutional memory and present capacity in taking the campaign forward.

“It is in the above context you will agree with me that there’s a need to maintain the current momentum and capacity of the EFCC since May 29th, 2015. It is in the above context that I therefore request to crave your indulgence of this Distinguished Senate to favourably accept my re-nomination of Ibrahim Magu Mustapha for the position of the EFCC, having received adequate clarification considering the matter relied upon by the Senate in arriving at its decision.

“Mr. President of the Senate, I make this request for a favourable reconsideration by this distinguished chamber against the background of the critical role of the Senate in driving the anti-corruption campaign of the present administration through a proactive legislative agenda and adequate appropriation support for the important work of the agency such as the EFCC. “I use this opportunity to reassure the distinguished senators of my determination to pursue a synergy between the executive and the legislative arms in our common mission to bequeath a more prosperous and value-driven country to the generation after us,” Buhari said.

On the SGF, he said he had also studied the Senate resolution on the report of the ad-hoc committee which indicted Lawal, describing it as hasty because it was an interim report.

According to him, the Senate should have waited for the final report of the committee before

drawing its conclusions.

Buhari also said the report could not stand the test of time because it was only signed by three of the nine members of the committee which he said implied the support of a minority group in the committee for the report.

Buhari therefore told the Senate that in view of the flaws in the report, he could not honour their request for Lawal’s sack.

“Following a receipt of your letter, I setup a review team to consider the recommendations from the Senate committee. I have also conducted further investigations based on Engr.

Lawal’s response to the allegations and issues raised in the Senate's resolution.

“I have come to the following conclusion that I believe will guide the Senate in the proper review of its interim report and eventual resolution.

“The report forwarded to the presidency by the Senate which informed the decision that Engr. Babachir Lawal should resign and be prosecuted by the relevant authority was an interim report as against a final report which ought to have been presented to the Senate in the plenary for adoption as a binding and final report before

SENATE STANDS BY RESOLUTION CALLING FOR BABACHIR’S SACK, AGREES TO SCREEN MAGU briefing, after President Muhammadu Buhari’s letters requesting for the screening and confirmation of Magu and exonerating Lawal were read out by Senate President Bukola Saraki in the chamber.

Having read out both letters from Buhari, the Senate said it would screen Magu. The Senate spokesman, however, regretted that the president’s letter failed to address the allegations raised against Magu by Department of State Services (DSS), which led to his rejection by the Senate late last year.

Abdullahi also said notwithstanding the president’s position on Lawal, the Senate stood by its resolution, which indicted him of corruption.

But before the press briefing by the Senate, there was an uproar in the upper legislative chamber yesterday following the accusation made by the Chairman of the Senate Ad-hoc Committee on the Mounting Humanitarian Crisis in Northeast, Senator Shehu Sani, that the presidency was full of lies and hypocrisy.

Sani was miffed by the content of Buhari’s letter read by Saraki, in which the president accused the committee chaired

by Sani of denying the SGF of fair hearing by failing to invite him to defend himself during the investigation on the mismanagement of funds allocated to the North-eastern section of the country as a result of the Boko Haram insurgency.

The president, in his letter, also concluded that the ad hoc committee’s report was an interim one, obviously forgetting that the presidency had indicted and ordered the arrest and arraignment of the former National Security Adviser, Col. Sambo Dasuki in 2015, on the basis of an interim report submitted to it by a presidential committee set up to investigate the utilisation of funds for the procurement of arms by past administrations.

Sani described the letter as the funeral of Buhari's anticorruption war, pointing out that when the president wants to fight corruption outside the presidency, he uses a disinfectant but when it is within the presidency, he uses deodorant.

But in a bid to douse what

he deemed to be strong and inflammatory remarks, Saraki attempted to stop Sani from having his say on the floor on the upper legislative chamber.

Saraki’s attempt to gag the senator, however, drew the ire of his colleagues who appeared to be enjoying the barbs thrown by Sani, as they shouted thunderously until proceedings were interrupted for some minutes, forcing Saraki to allow Sani to continue.

Buhari’s letters had cleared the acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, and Lawal of corruption allegations.

The Senate had on December 14, 2016, accused Lawal of awarding a multi-million naira grass cutting contract in the North-east to his company and therefore called for his sack and prosecution.

The parliament also rejected Magu as the substantive chairman of EFCC on December 15, 2016, citing a damning security report.

However, Buhari had asked the Attorney General and Minister of Justice, Abubakar Malami, to investigate the allegations and revert to him with a report on his findings.

It was on this basis that Buhari cleared the SGF and the acting EFCC chairman of the corruption allegations and resubmitted Magu’s name to the Senate for screening and confirmation.

But in his reaction, Sani said contrary to the claim of lack of fair hearing, a letter was sent to the SGF and was received and acknowledged by his office.

He displayed the acknowledgment letter by the SGF’s office as well as a full page advert published in the Daily Trust edition of December 2, 2016, where he said the SGF was listed among those invited to the investigative hearing.

He further accused the presidency of cultivating the habit of telling lies to cover up its shortcomings.

“It is shocking to me that such a letter can come from the presidency with such misinformation and outright distortions.

“They lied by saying that the committee did not invite the

SGF. The committee invited the SGF and the letter was acknowledged by the Permanent Secretary in the Office of the SGF, Mr. Aminu – spelling not sure?

“To make sure that we buttressed our point, we published a paid advert in three or four national dailies.

This one was published on December 2, 2016, and the SGF was clearly mentioned as one of those that were expected to come and appear before the National Assembly.

“If they had the intention of simply reaching a predetermined conclusion by covering up on the issues raised by the committee, that is one thing.

“Secondly, issues were raised that only three members of the committee signed that interim report. That was a second lie coming from the presidency.

I have a copy of the interim report which was initially signed by seven members of the nine members of that committee and I am going to submit it to the Clerk of the Senate.

“Even if it was nine members, and then three people signed, we still had a quorum, but here I have seven persons.

“I will say also that I listened to the list of the names that were read and they omitted the chairman, which is myself.

“I know that I am not very big in frame, but I believe my name shouldn’t have been omitted. This shows clearly how the SGF and his minions in the presidency misinformed the president to sign this letter.

“Thirdly, I will state this clearly: This letter is a funeral service for the anti-corruption fight. Mr. President, when it comes to fighting corruption in the National Assembly, the judiciary and in the larger Nigeria society, the president uses insecticide, but when it comes to fighting corruption within the presidency, they use deodorant.

“I stand by the report of that committee and it was very clear to us. If we allow this committee’s report to be shredded into pieces, then l think it would be in order for us to open all the 138 prisons in this country for all the convicts and awaiting trial inmates to

go scot free.

“As far as l am concerned, on behalf of myself and the committee, what we did was a thorough job. We invited all the companies concerned. We invited the SGF and he sent us the secretary of the Presidential Initiative on the North-east.

“The secretary testified under oath that he was competent enough to answer our questions.

He came with tons and tons of documents which we went through and then we came out with our report.

“It is unfortunate that we have a political atmosphere where you have a saintly and angelic presidency and a devilish and evil society.

“We must in every respect fight corruption within the kitchen as we do in the verandah. If we don’t do that, then we are being hypocritical.

This letter does not in any way reflect the spirit which we espoused as a people fighting to cleanse and fumigate this country of corruption,” Sani submitted.

In his letter, Buhari in his reaction to the Senate’s rejection of Magu as substantive EFCC chairman on December 15, 2016, said he had studied the resolution of the Senate and having listened to Magu’s response to the security report indicting him, he was satisfied with his response. He therefore implored the Senate to clear him.

“I have taken due note of the contents of the aforesaid resolution as it concerns the nominee, particularly the conclusion of the Distinguished Senate not to confirm the nomination of Mr. Magu due to a security report on the nominee issued by the Department of State Services (DSS) and addressed to the Senate via a letter dated 3rd October 2016.

“Upon receipt of this said resolution, I took administrative steps within the executive arm of government to ensure the speedy clarification of issues relied upon by the Senate in arriving at its decision.

“These steps included a request for the response of the nominee to the allegations contained in the report out of the desire to ensure that the credibility of our anti-corruption

Continued on page 9

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T H I S D AY • WEDNESDAY, JANUARY 25, 2017

NEWS RAILWAY CONCESSIONS: FG STARTS EVALUATION OF BIDS SUBMITTED BY GE, FOUR OTHERS Speaking recently to journalists after preliminary discussions with GE, the Minister of Transportation, Mr. Rotimi Amaechi had said government was exploring the possibility of putting to use the 25 locomotives on the 3,500km rail tracks from the Eastern and Western flanks to connect the Northern axis before the full scale concession agreement is sealed in March.

Information made available to THISDAY also indicated that GE was favoured to win the bid, as the 25 locomotives planned for deployment were partly managed

by US engineering conglomerate before the collapse of Nigeria’s railway lines several years back.

Because of their non-usage, the minister said the 25 locomotives would need technical repairs and some minor maintenance for them to effectively run on the rail lines at the average speed of 60km/hour.

Asked to comment on the discussions with GE, Amaechi said: “Government is still negotiating with GE to take over the narrow gauge lines in the country, which are from Lagos to Kano to Funtua and from Port

Harcourt to Maiduguri to Yobe.”

According to Amaechi, even though the final cost of the deal had not been determined, it may amount to $2 billion, adding that talks and negotiations were still ongoing with the company.

“We have people who will negotiate with GE; the negotiations are still ongoing because we have people (the transaction adviser) who are going to negotiate on behalf of government.

“The 25 locomotives have been with us (NRC) for many years since the time of (Gen. Sani) Abacha, but we are trying to see how they can put them back to use to increase the capacity of the NRC so that there will be train movement between Lagos and Kano and from Port Harcourt to Maiduguri.” he said.

In another development, GE yesterday in Abuja offered to invest in Nigeria’s three refineries in Port Harcourt, Warri and Kaduna.

According to a statement from the Group General Manager Public Affairs of the Nigerian National Petroleum Corporation (NNPC), Ndu Ughamadu, GE

said in a presentation to the Group Managing Director of the NNPC, Dr. Maikanti Baru, that if its offer was accepted, it was interested in improving the capacity of the refineries starting with Warri or Port Harcourt before the end of 2017.

The statement said the GE team, which included its Engineering, Procurement and Construction (EPC) partners, off-takers, traders and some financiers, was led by its Global Chairman and Chief Executive Officer, Mr. Jeff Immelt.

The multinational firm’s desire to partner with NNPC on the rehabilitation of the refineries came on the heels of a similar proposal on Monday by Italian oil and gas multinational, Eni, to enter into cooperation with NNPC for the rehabilitation and enhancement of the Port Harcourt refinery.

“We were involved in the tenders that started around last year, which were subsequently withdrawn but our commitment to bringing the refineries on stream is still very deep and we are very serious about it.

“We propose that work

commences either with the Warri or Port Harcourt refinery as a pilot, as we have set a target to improve refining capacity before the end of 2017,” said GE in its presentation to the NNPC. Immelt, according to the statement, explained that as part of the offer, GE and NNPC had identified some major national power projects in the country and were currently developing the scope of intervention in the projects, which have a potential combined capacity of about 4.4 Gigawatts (4,400MW).

GE further pledged its readiness to work with the NNPC to make oil production in the offshore fields profitable for the benefit of both companies and other stakeholders.

It said it would consolidate on its existing working relationship with the NNPC to expand the prevailing power business and help NNPC achieve its vision of becoming the leading power company in Nigeria.

Baru who welcomed the GE team, expressed delight in the interest of the US firm to intervene in some vital operational areas of the

corporation.

He noted that GE’s offer that included projects financing would greatly improve the collaboration between NNPC and GE and initiate the planned power projects rapidly.

Baru also welcomed GE’s offer for support to boost the nation’s offshore production and raise the crude oil reserve ratio replacement.

He urged the company to also tap into the opportunities on offer in medical supplies, as NNPC moves to commercial the services of its 52 hospitals and clinics spread across the country in the years ahead.

According to the NNPC statement, GE, with its headquarters in Boston, Massachusetts, is worth $493 billion in assets and its business focus areas include oil and gas, power, water supply, aviation, healthcare, transportation and capital.

Also, acting President Yemi Osinbajo yesterday called on the US firm to speed up its infrastructure engagements in Nigeria.

A statement by his media

aide, Mr Laolu Akande, said the vice-president received a delegation from GE led by Immelt.

The statement added that the federal government plans to concession the East-West rail line of the NRC to GE, for which the US firm would be investing $2 billion in the Nigerian economy.

“The company will refurbish the single gauge line and build/ assemble train coaches here in Nigeria,” it added.

Addressing the GE delegation, the vice-president said: “It is important we move quickly this year and get things done, whatever it is that is required to make things move faster, let us know.”

In his remarks, Immelt agreed with the acting president that 2017 was critical for GE projects in power, gas and transport infrastructure in Nigeria.

The transportation minister, Power, Works & Housing Minister Babatunde Fashola and Finance Minister Kemi Adeosun were also in attendance at the meeting at the Presidential Villa, Abuja.

the Federal Republic of Nigeria, as amended, and against all principles of the rule of law as initiated in the Nigerian legal system, as well as the roles of the National Assembly committees on handling of public petitions.

“Consequently, I am of the view that baring other consideration that may arise as a result of subsequent investigation of Engr. Lawal by the interim ad-hoc committee, the current report as presented to

the presidency in its own right, does not meet the principles of fair hearing and compliance with the Senate's rules for conduct of investigations in matters relating to abuse of office by public officers.

“In replying to the foregoing, I am not able to approve the recommendation to remove and prosecute Engr. Lawal on the basis of the Senate ad-hoc committee report dated 15th December, 2016,” Buhari concluded.

increasing inflationary pressure which will make the economy unattractive for foreign and domestic investments.

“Given these limitations, the committee was reluctant to lower the policy rate on this occasion but remained committed to doing so when the conditions permit.

“The MPC urged the management of the central bank to engage industry operators to discuss likely issues of asset quality, credit concentration and high foreign exchange exposures,” Emefiele added.

According to him, the MPC also urged relevant authorities to ensure the quick passage of the 2017 budget and to seriously consider using the public private partnerships in its infrastructure development programme.

Such a step, he said, would cushion the economy against any possible shocks in the event of a shortfall in budgeted revenue.

Responding to questions, he stated that importers of industrial raw materials, equipment and agricultural input would continue to be given priority in FX allocations.

The nation’s foreign reserves, he said, had risen to about $28.9 billion due to rising oil prices, noting that in spite of this, the CBN would continue to be prudent in managing the foreign reserves.

He also said it would lead to massive capital outflows, thereby leading to pressure on the FX market.

Chioke, who spoke in Lagos during the launch of the 2017 Outlook by his firm, said for a fully flexible exchange rate regime to be effective in the country, there was need for large scale reforms in sectors such as the oil and gas, power, mining, as well as significant improvement in the level of governance in the country.

“Actually, if you look at what the CBN has tried to do in the exchange rate environment, I believe they have tried given all the challenges they are faced with. If they were to go to a fully flexible exchange rate in the Nigerian economy today, I would probably be against that.

“You know why, it would be trying to solve the problem on the fringes. When you do that, all the capital would just fly out.

“To adopt a flexible exchange rate, you need to impose some massive reforms in some of the key sectors that would help to attract dollars. You can’t manage in one dimension. You have to remember that your problems are multi-dimensional.

“So, as you are trying to fix this one, remember that the other one might be opening up.

“So, a reform that focuses on large scale reforms is what the country needs before we can allow the exchange rate to float.

“Once upon a time, we were actually close to that. There was a time when between Soludo and Sanusi, we could have done that. We were getting to that sweet spot. The naira was even appreciating, but we lost that opportunity,” he said.

SENATE STANDS BY RESOLUTION CALLING FOR BABACHIR’S SACK, AGREES TO SCREEN MAGU submission to the presidency, given the weight of allegations made in the report.

“The Senate committee set up to investigate the mounting humanitarian crisis in the Northeast comprised of nine members, namely: Senator Oluremi Tinubu, Senator Mohammed Hassan, Senator Solomon Adeola, Senator Ben Murray Bruce, Senator Tayo Alasoadura, Senator Theodore Orji, Senator Yahaya A. Abdullahi, Senator Mallam Aliu Wakili and Senator

Issac M. Alfa.

“The review of the interim report showed that the interim report was only signed by only three out of the nine members, namely, Senator Solomon Adeola, Senator Yahaya Abdullahi and Senator Isaac M. Alfa “The signing of the interim report by three out of nine members of the committee makes it a minority report of the Senate committee and not a committee report being an

interim report, thus presenting a challenge for the presidency to determine the weight to attach to the report as currently presented.

“I have also observed that the Senate ad-hoc interim committee report and the votes and proceedings of the Senate have not in its own right established that Engr. Babachir Lawal was ever given an opportunity to appear before the committee and defend himself.

“It is also on record that

the company linked to him, Rholavision Engineering Limited, was also not invited at anytime before the committee to defend itself against the allegations which eventually formed the fulcrum of the Senate’s case against the company.

“You are invited to note that the non-application of the principle of fair hearing by the Senate ad-hoc committee is a clear contravention of Section 36(1) of the 1999 Constitution of

CBN INCLUDES POWER FIRMS IN 60% FX ALLOCATION, RETAINS MPR AT 14% “The 60 per cent that has been set aside for all FX that is available to all the banks to manufacturers, we did that for a purpose because we felt that there is a need to support the manufacturing sector.

“There is a need to ensure that FX is made available to those that will provide jobs and get manufacturing and industrial output to grow.

And I am happy that the recent data released by the National Bureau of Statistics has started to show that the Purchasing Manager’s Index (PMI) is looking upwards.

“The 60 per cent that is set aside for the manufacturers, I dare say that those in the power sector also qualify for that because they are importing plants and equipment or components for their transformers and generators.

“However, I do not mean generators that people will put in their houses and generate electricity for themselves. So we will appeal to the banks to look in their direction increasingly,” Emefiele explained.

He also expressed satisfaction with level of accretion of external reserves, which according to him currently stands at $28.9 billion.

Furthermore, Emefiele said the central bank would continue to work to implement policies that would bridge the wide gap between the interbank and parallel market FX rates.

“It is exciting to see this happen. But is there a need to float the naira? It is important to note that we have to manage the reserves.

That means from time to time we will intervene in the market to make sure the exchange rate does not go beyond our expectations

and those interventions will be to moderate the rates as necessary.

“The fact that we have started to see some accretion in the reserves does not mean we have to be reckless. We will continue the policy of ensuring that FX is made available to those who are importing raw materials, plants and equipment, those supporting the agriculture sector and not those who want to engage in what I regard as less important sectors,” he stated.

Continuing, he added: “It is important that I must not gloss over some of the things I have heard and read in the press regarding multiple FX rates: I have heard about budget rate, I have heard about black market rate and parallel market rate, I have heard about pilgrims rate, I have heard about airlines rate and all that.

“It is unfortunate and it is unfair that some of those we have read discussing this issues are those who have direct access to the CBN. What we would have expected is that they would have talked to us. But I know that they know the objective that they are pursuing is best known to them.

“The budget rate is forecast rate. A forecast rate or budget rate has always been there from history and it is the rate that is used just to determine the budget and like you should know, a budget is a forecast. It is tentative.

“That is why I don’t understand why people would use the budget rate and say it determines the exchange rate in the market. The parallel and BDCs rates as far as I am concerned are one rate, and I don’t understand the duplicity about the rate.”

Earlier, while reading the MPC communique, Emefiele

said the committee was of the view that the key undercurrents – that is scarcity of FX, low fiscal activity, high energy prices and the accumulation of salary arrears – could not be directly ameliorated by monetary policy actions.

He said the committee had also anticipated that the recent increase in oil prices would be complemented by production gains to provide the needed tailwinds to sustainable economic activity.

In that regard, the committee commended the commitment of the fiscal authorities to step up efforts to fill the aggregate demand gap through a speedy resolution of the domestic indebtedness of the federal government to states and local contractors.

The committee, he added, believed that doing so would aid the effort towards economic recovery.

“Total foreign exchange inflows through the CBN increased significantly by 82.45 per cent in December 2016, owing mainly to the increase in oil prices. Total outflows, however, spiked during the same period.

“The committee noted that the average naira exchange rate remained stable at the interbank segment of the foreign exchange market in the review period.

“The medium term outlook based on available data and forecast of key economic variables indicated a more resilient economy in 2017.

Growth is expected to turn positive in fiscal 2017, as prior policy lags converge and the fiscal space becomes more accommodating.

“In addition, the agricultural sector is expected to play a bigger role in driving growth, given the expansion of the Anchor Borrower’s

Programme, as well as other developmental initiatives of the government.

“Likewise, the prospects for moderation of price developments appear to be strengthening on the heels of positive developments in the food sub-sector.

“The committee re-assessed the headwinds which confronted the economy in 2016 and the opportunities for recovery in 2017. In particular, the MPC evaluated the implications of the rising wave of nationalistic ideologues across the West, the reevaluation of trade agreements and the possibility of rapid monetary policy normalisation in the United States, with adverse consequences for other countries, including Nigeria.

“In recognition of the seemingly inevitable structural shift in the global economy, the committee reiterated the need to be more inward looking and hasten efforts towards economic diversification to support the domestic economy and improve life for the Nigerian people.

“Consequently, members acknowledged the imperative of sectoral policies and greater coordination of monetary and fiscal policy.

“The committee further noted that inflationary pressures would begin to subside as non-oil output recovers and the naira exchange rate stabilises. Until then, it stressed, a rate cut would worsen the inflationary conditions and undermine the current outlook for stability in the foreign exchange market.

“The committee also feels that doing so would further aggravate demand pressures while undermining existing income levels in the face of the already expansionary monetary policy and

Analyst's Reaction Reacting to the outcome of the meeting of the MPC, the chief executive officer of Afrinvest West Africa Limited, Mr. Ike Chioke, yesterday said Nigeria’s present economic environment does not support a fully flexible exchange rate regime.

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WEDNESDAY JANUARY 25, 2017 • T H I S D AY

NEWS

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

Budget Debate: Senate Warns Govt against Mortgaging Future with Borrowing

Omololu Ogunmade and Damilola Oyedele in Abuja The 2017 budget process yesterday kicked-off in Senate with senators decrying the executive’s seeming penchant for borrowing, noting that continuous borrowing would deprive the nation of meaningful accruable revenues in future.

Leading debate on the budget, the Senate Leader, Senator Ahmad Lawan, said the budget of N7.3 trillion was made up of N2.979 trillion recurrent (non-debt) expenditure, N2.58 trillion capital expenditure, N1.663 trillion for debt service, N419.0 billion as statutory transfers and N177.4 billion sinking fund for maturing bonds.

He said the budget was predicated on $42.5 per barrel oil benchmark, oil production volume of 2.2 million, exchange rate of N305 to $1 and gross domestic product (GDP) growth rate of 4.37 per cent.

According to him, the aggregate revenue available for the funding of the budget is N4.94 trillion, which he said was 28 per cent higher than 2016 projection with a projected deficit of N2.36 trillion.

He added that the GDP which was an equivalent of 2.18 per cent of the nation’s GDP would be financed by borrowing about N2.32 trillion.

Lawan said the proposed borrowing would consist of N1.067 trillion from external sources while the balance of N1.254 trillion would be sourced from the domestic market.

He added: “With the 2017 budget of recovery and growth, the future of this country looks very bright as the year to year growth in capital demonstrates this administration’s desire to make this country more competitive in order to bring the economy out of recession and into steady growth and prosperity for all.

“Mr. President, distinguished colleagues, the 2017 capital budget is designed to align expenditure to long-term objectives, sustainable development, as well as fiscal consolidation, inclusive growth and job creation, stabilisation of the welfare of Nigerians by focusing more on macro-

economic stability, consolidating on structural reforms, enhancing governance and institutional goals, diversification of the economy with key emphasis on agriculture, investments in priority sectors like solid minerals and self-sufficiency in food and other products.

Lawan gave a breakdown of capital expenditure allocation to ministries as N529 billion for the Ministry of Power, Works and Housing; Transport N262 billion; special intervention programme N150 billion; Defence N140 billion; UBEC N92 billion; Trade and Investment N81 billion; Water Resources N85 billion; Interior N63 billion; Niger Delta Development Commission (NDDC) N61 billion; Federal Capital Territory (FCT) N37 billion and Niger Delta Ministry N33 billion.

He also gave a breakdown of recurrent expenditure of notable ministries to include: N482 billion for Ministry of Interior; N398 billion for the Ministry of Education; N325 billion for Defence and N252 billion for Health.

In his contribution, Deputy Senate President, Ike Ekweremadu, said unless a deliberate attempt was made to stop borrowing, the future revenue of the country would be swallowed up by the cost of debt service.

He therefore canvassed the need for the government to come up with policies meant to guarantee reduction in the country’s recurrent expenditure.

Also speaking, Senator Barnabas Gemade threw his weight behind Ekweremadu, noting that borrowing should be addressed to forestall a situation where government would only be earning revenues in the nearest future to service debts.

He commended the allocation of N100 billion for housing in 2017 but noted that the breakdown of the housing vote was not contained in the budget, a situation he believed was antithetical to budget spirit which he said required the breakdown of the proposed expenditure.

In the same vein, Senator Rose Oko lamented continued maintenance of excess crude

Expanded PDP Caucus Meets Tomorrow Onyebuchi Ezigbo in Abuja The Peoples Democratic Party (PDP) under the leadership of Senator Ahmed Makarfi has scheduled to hold an ‘expanded caucus’ meeting of the party tomorrow.

The meeting, which is to hold in the afternoon, is expected to have in attendance the party’s bigwigs including, governors of the PDP, National Assembly caucus, members of the Board of Trustees (BoT), National Vice Chairmen, state chairmen and other NEC members.

A statement signed by the party’s spokesman, Dayo Adeyeye, said those to attend the decisive meeting would also include former

governors, former ministers and invited elders and leaders of the party.

THISDAY had reported last Sunday that the meeting would be used to consider aspects of the recommendations of a special committee on strategy and inter party affairs set up late last year.

Although the report of committee is yet to be officially submitted to the party leadership, THISDAY gathered from reliable sources that it contains, among other recommendations, issues relating to reforms in the party, proposals for constitutional amendment and terms/forms of re-alignment in the event of unfavorable judicial pronouncement on its leadership crisis.

account despite knowledge that it is unconstitutional as she advocated the need to jack up the oil benchmark from $42.5 to $45 per barrel in view of the recent appreciation in the price of crude oil in the international market.

But Senator Joshua Lidani hailed the voting of N100 billion for the judiciary, saying it would go a long way to enhance the independence of the third of arm of government especially in the face of recent invasion of judges’ homes by security operatives over corrupt allegations.

However, Senator Chukwuka Utazi lamented the voting of paltry N50billion for education’s

capital expenditure, saying this explains the drastic fall in Nigeria’s educational standard.

He said instead of voting a huge sum to improve the country’s education, the government voted N140 billion for defence, pointing out that the root of insecurity is poor education which he said could be addressed by spending huge sums on education.

For Utazi, voting N140 billion for defence while allocating N50 billion for education amounts to leaving the leprosy while curing ringworm. According to him, when the youth secure sound and qualitative education, the tendency to fight criminality and

insurgency would be relatively low.

The debate continues today and tomorrow.

Meanwhing, despite expectations of fireworks in the debate for the N7.3 trillion 2017 budget following the criticism of the Medium Term Expenditure Framework (MTEF) for not projecting current realities, particularly regarding the foreign exchange rate, opposition was barely registered by members at plenary yesterday.

Several members, including some of the All Progressives Congress (APC) extraction, who earlier queried the source of the funding for the largest budget

ever proposed by the federal government, were lethargic in their presentations, during the budget debate which continues today.

The Majority Leader of the House, Hon. Femi Gbajabiamila, in the lead debate, conceded that the budget is an ambitious one, but the ambition is precursor to the success, he said.

He presented the highlights of the budget to include oil production projection of 2.2 million barrels per day, with benchmark of $42.5 per barrel, and exchange rate of N305/US$1.

Other key assumptions of

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STRATEGIC MEETING

L-R: Minister of Power and Housing, Babatunde Fashola; Minister of Interior, Lt. Gen. Abdulrahaman Dambazau (rtd); and Minister of Information and Culture, Alhaji Lai Mohammed, during Presidential Enabling Business Environment Council at the Presidential Villa in Abuja... yesterday Godwin Omoigui

Power Gencos May Soon Pack up Due to Diverse Challenges, Elumelu Warns Chineme Okafor in Abuja The Chairman of Transcorp Ughelli Power, Mr. Tony Elumelu, has said the Nigerian power sector is abourt to collapse as operators reel under various operational challenges which include unpaid bills for supplies, and foreign exchange differentials, warning that the generation companies (Gencos) may not be able to hold up for too long before giving up.

Speaking in an interview with CNBC which THISDAY monitored yesterday in Abuja, Elumelu said the geberation companies (Gencos) were currently subsidising electricity generation in Nigeria.

He said this development was unhealthy to the operations of the Gencos.

According to him, a lot of the Gencos including Transcorp have lost share value on the back of the sector’s challenges. He explained that such could affect future investments in the sector if left unaddressed.

Specifically, Elumelu noted that payment delays and debts to Gencos, poor gas supplies and certain unhealthy governance

issues were major contributors to the sector’s challenges.

“The current government is interested in diversifying the economy of this country, I will say that we can only make progress in that direction if we fix power. Power to me is one of the most critical agenda that we as a country should have at this time but the power sector appear to be threatened,” said Elumelu.

He further stated: “A lot is dependent on the power sector.

I speak as an investor in that sector and my heart bleeds when I see a country that is endowed with a lot especially gas and a huge market like Nigeria, a market with enterprising people who are ready to move mountains if they are set free with improved access to electricity and we are not doing so much.

“This is a sector that initially attracted private sector excitement and investment. I know the price share of Transcorp shot up when we did the acquisition but today, the story is different not because we as a company are not doing well, it is different because the agency of government that has

the responsibility of making sure that this sector truly delivers on its potentials is not doing well enough.”

He said on debts owed Transcorp by the sector: “We are owed a lot of money, Transcorp Power is owed almost N50 billion, by the time we put in the invoice for this month, it will be almost N55 billion. How do you survive in this type of situation?

“And other Gencos I know are actually dying, we are struggling because of our diversified resource base, so something urgent must be done about this.

“The truth is Transcorp Power as a key operator in the sector is struggling and if we are struggling, you can imagine what other operators are going through.

There is a lot of debt being owed to us. Liquidity is an issue and there is gas vandalism, of course you will not blame government so much because there is a lot of vandalism going on but where we are located, there are some idle gas fields there, if government could allow us produce gas from the gas field we are seating on, we will have our own regular supply of gas and then we can do more

because we have capacity to do over 700 megawatts of electricity.

“GE just completed installation of turbines that will take our capacity to over 750MW and by the end of March, we should be 815MW. We are excited about this sector because we know what power can do for this country, but we need to fix some of these issues,” he added.

He stated: “We are all living in a borrowed time, it is a matter of time before something drastic is done.”

Elemelu also said of his personal assessment of operators in the sector: “I believe the Gencos have demonstrated capabilities, some of the Discos in my viewpoint, I do not see seriousness and so government should engage more with these Discos and see how a marshal plan can be put in place.

“It is unfortunate, may be the wrong people bought some of these Discos. People who have capacity should own the Discos.

The generating companies are reeling and suffering, there is a limit to how far we can subsidise the system because that to me is what is happening today.

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NEWS

Finally, Kidnappers Release Turkish School Students, Staff Chiemelie Ezeobi After 12 days in captivity, the kidnappers who abducted five female students and three members of staff of the Nigerian Tulip International College (NTIC) in Ogun State, yesterday finally released them into the waiting hands of their respective families.

THISDAY gathered that all the victims were freed at about 8.30p.m. and dropped off behind the school premises.

Although details of their release were sketchy as at 9:20p.m. when the news broke of their release, the victims were said to have been first taken to the hospital under heavy police protection.

While a version claimed that the kidnappers released the victims to the management and representatives of the parents, another account indicated that security forces found the tired

victims wandering in the forest behind the school premises.

A source who spoke on account of anonymity, said the kidnappers succumbed to the massive pressure mounted on them following the deployment of Aerial Patrol Helicopters and Tactical forces by the Inspector General of Police (IG), Ibrahim Idris.

According to the source, the kidnappers knew that their members in police custody had sold them out by giving away their identities and those of their parents, hence, they freed the captives.

He said: “They have been freed. They were released around 8.30p.m. when security operatives were already combing the area.

“They heard strange movements and when they got there, they saw the victims.

They looked tired. They are with us and we have contacted

their families.

“They would be taken to the hospital once their relatives arrive.

I think the kidnappers knew that security forces already knew their

identities. Their covers have been blown.

“We now know their names and even their parents. The pressure on them was too much. Now that

we have the victims, the next thing is to capture the culprits.”

Confirming their release, the Assistant Inspector-General of Police (AIG) in charge of Zone

II, Kayode Aderanti, said they were in Ogun State.

He promised that the culprits would be fished out and brought to justice.

Boko Haram Kills Eight, Adopts Women and Children from Borno Village

Red Cross distributes food to 25,000 THANK YOU FOR COMING L-R: : Second Vice President, Chartered Institute of Bankers of Nigeria (CIBN), Mr. Bayo Olugbemi; President of CIBN, Professor Segun in Rann Michael Olugbode in Maiduguri Eight persons were killed and several women and children abducted by suspected members of Boko Haram terrorists from Dzaku village in Askira/Uba Local Government Area of Borno State.

According to residents of the village, the terrorist invaded the area on Monday evening, killing, carting away women and children including food stuffs.

One of the indigenes of the village, Amos Ali, who resides in Maiduguri, the Borno State capital, said some of his relatives who fled to seek refuge with him, said some terrorists who came into Dzaku in two Toyota Hilux vehicles were armed with AK47 rifles and petrol bombs. He added that they wreaked havoc without confrontation.

Ali who said one of his sister was among those abducted by the attackers, lamented that “because of lack of telecommunication service, we later received a distress call from our community yesterday that Boko Haram sect attacked our people and killed eight before abducting several others including my sister.

He added: “We are much worried especially now that the military said it has eliminated the terrorists from the region.”

Askira Uba is in Southern Borno senatorial district and about 180kilometres drive from Maiduguri, the state capital, that is believed to be the birthplace of Boko Haram and had witnessed series of deadly attacks from the sect in the last six year.

When contacted, the Police Public Relations Officer, Victor Isuku, said he was yet to be informed of the incident but promised that he would get back on getting details from the area.

Meanwhile, following the accidental bombing by the Nigerian Air Force on an internally displaced persons camp (IDP) last week, which led to the death of over 200 persons, the International

Committee for the Red Cross (ICRC) has distributed food items to over 25,000 people in Rann, Borno State, where the incident occurred.

The Red Cross has remained undeterred by the unfortunate incident, despite losing six of its staff.

It returned a few days later to continue humanitarian services in Rann and after three days was able to provide succour to more than 25,000 people in the town, which recently buried 234 persons lost in the incident.

The Red Cross, in a statement yesterday by its communications coordinator, Aleksandra Mosimann said: “More than 25,000 people in Rann received food during three days of distribution by the International Committee of the Red Cross (ICRC) that ended on Monday.

“The recipients received rice, beans, oil, salt and corn soya blend in quantities that should last for five weeks. The distribution was carried out by the ICRC and community volunteers.”

Mosimann also quoted the Red Cross’ economic security coordinator, Mohammed SheikhAli as saying that “people in Rann were happy to receive food”.

“They have been isolated by rains and poor quality roads since June and running very low on food supplies,” the Red Cross’ coordinator added.

Sheikh-Ali said: “At the beginning of January, we laid sand bags on the road for our trucks to be able to cross. We got 12 trucks full of food to Rann last week on the day of the airstrike, which prevented us from distributing the items.

“As soon as medical evacuations were over, we organised the distribution with the help of the community.”

Last week’s airstrike killed and wounded scores of people, including 20 aid workers from the Nigerian Red Cross Society.

Ajibola; Group Managing Director/CEO, UBA Plc, Mr. Kennedy Uzoka; Deputy Managing Director, UBA Plc, Mr. Victor Osadolor; and Registrar/CE, CIBN, Mr. Seye Awojobi, during a visit by CIBN to UBA House in Lagos....yesterday

Lawmakers, Information Minister in Row over Ministry’s N100m Generators Lai Mohammed orders probe of Big Brother Nigeria controversy Olawale Ajimotokan in Abuja

The House of Representatives and the Ministry of Information and Culture are in dispute over N100 million set aside for the acquisition of two 250 KVA generating sets in the 2016 budget.

The House Committee on Information and National Orientation, headed by Hon Segun Odebunmi, during an oversight visit to the Ministry of Information and Culture on the 2016 budget, queried the ministry for using the allocation to acquire lower capacity generators rather than the exact items proposed in the budget.

But Information Minister, Mohammed, told the lawmakers that the price initially set for the procurement of the generators, verified by Tenders Board, was above the budgeted cost due to fluctuating exchange rates.

According to him the development prompted the ministry to procure two sets of 100 KVA generators and 13 smaller sets for the Federal Information Centres nationwide.

The generators would provide back-up electricity supply to the Federal Secretariat and the National Press Centre under construction.

The minister said that an application for a No Objection was granted by the Bureau of Public Procurement (BPP) when a request for 100 KVA generators be purchased.

One of the lawmakers, Hon Saheed Fijabi, contended that the

minister’s action contravened the Mohammed about government Appropriation Act, adding the handling of the Boko Haram ministry did not have the right to insurgency and the Chibok girls, move from a sub-head to another saying that they were on a budget without approval. defence visit.

He said the ministry should The minister appealed to have approached the National lawmakers to take interest in the Assembly for virement since it North-east crises, saying that was 250 KVA units that were while Boko Haram is defeated , approved in the 2016 budget. the problem of suicide bombing But Mohammed and the will not abate. ministry’s permanent secretary Meanwhile Mohammed, Mrs Ayotunde Adesugba has directed the National insisted that the spending Broadcasting Commission (NBC) complied with the procurement to investigate the circumstances act as fell within the approved threshold in the budget.

“We had to go back to BPP for permission for selective tender for the other ones because of the variation in the price for the 250 KVA units because of the high exchange rates. Aside we spent within limit buying more sets to power the federal information Former Vice President of the World centres,” Mohammed said.

Bank for Africa, Mrs. Obiageli The minister also said that the Ezekwesili, has described the three 18- seater staff buses that economic policies of the government were advertised for tenders at as “confusing,” expressing regret N52million were equally affected that in spite of the confusion, the by the high exchange rates. government remains “adamant.”

The controversial Ezekwesili, the convener of the generators, staff buses, federal BringBackOurGirls (BBOG) and government printing press former minister was speaking in and establishment of cultural the current edition of The Interview industrial centres in six states magazine. were the four capital projects Answering a question on the approved for the ministry in 2016. call for diversification, she said: The printing press is to cost “I am not a fan of the economic N513million while N210 million policies of this government so far; is earmarked for the industrial I feel it’s too tentative in making centre. even the right policy decisions and But the session became rowdy even when it tries to make the right when Fijabi interrupted Hon policy decisions, it has been in the Boma Goodhead for asking breach. It has been very confusing.”

surrounding the reported shooting in South Africa of the ongoing Big Brother Nigeria reality show.

In a statement in Abuja yesterday, he asked NBC to determine whether Multi-Choice, by shooting the show in South Africa, has breached the Nigerian Broadcasting Code in any way, as well as the issue of possible deceit, since the viewing public was never told that the event would be staged outside Nigeria.

Economy: Buhari’s Government Confused, Adamant, Says Ezekwesili In a statement, the MD/ Editor-In-Chief of The Interview, Azu Ishiekwene, described the interview as “a no-nonsense call to reflection. Oby is not treading on eggshells. It’s bareknuckle stuff.”

Ezekwesili said: “It’s not that the government is timid; it’s about doing the wrong things and being adamant about them.”

She cited the government’s monetary and fiscal policies as key areas of denial of “empirical evidence” and called for structural reforms and better citizen engagement.

In the interview, conducted before the BBOG’s visit to Sambisa, Ezekwesili wept over the fate of

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New Party, ADP, Submits Registration Forms to INEC Today Says it has met Electoral Act’s requirements Oghenevwede Ohwovoriole in Abuja The Action Democratic Party (ADP), a political association regarded by its members as an emerging mega party, yesterday urged the Independent National Electoral Commission (INEC) to register it as a party.

The party said it had met the requirements for a political party, as defined by the Electoral Act,.

It said it would submit its registration forms to INEC in Abuja today.

One of the chieftains of the association told THISDAY in confidence that the party had “fulfilled all conditions required

by INEC for registration of the association as a political party.’’

“The necessary documents

required by the electoral body have been mobilised and they will be formally submitted today, to INEC,’’ he added.

The source disclosed that after the submission of the documents to INEC, the Acting Chairman of the association, Sani Yagbagi, would proceed to address a press conference at the association’s secretariat in Asokoro, Abuja.

There, the source said, he would, in addition to proving more details about the association, also introduce to the media, its Acting Publicity Secretary, Mr. Jimoh Akeem, saying the position have been zoned to the South-west.

Feelers from the ruling APC secretariat yesterday indicated that there was disquiet within its leadership over the likely emergence of the ADP as a strong political

force.

A source with the APC said: “Since the ADP had its inaugural meeting in December 2016, the ruling party has been strategising on how to minimise the impact of its emergence.

“APC’s greatest fear is that the ADP is believed to be the abode of most of its aggrieved members and the main opposition party, the Peoples Democratic Party (PDP).

The APC is currently facing crisis of mutual trust in its fold and the news of a proposed mega party is not what the APC would want to hear at this time.’’

ADP’s submission of documents to INEC today is expected to be done with a lot of fanfare as all top executives of the association would accompany the association’s chairman to INEC headquarters.

All the positions that had been zoned to each geo-political zone have been filled in acting capacity till the party holds its convention on a date to be fixed.

Meanwhile, the association at its inaugural meeting last year, zoned the National Chairman, National Welfare Secretary, National Vice Chairman, Vice National Organising Secretary, Deputy National Women Leader, Assistant National Secretary, Deputy National Treasurer with National Vice Women Leader, National Vice Youth Leader and three Ex-Officio (two male and one female) to the North-central.

While the North-west has the National Organising Secretary, National Women Leader, National Vice Chairman, Vice National Publicity Secretary,

Deputy National Youth Leader and Deputy National Welfare Secretary, National Vice Women Leader with National Vice Youth Leader, and three Ex-Officio (two male and one female).

The National Legal Adviser, Deputy National Chairman, National Vice Chairman, National Auditor, Deputy National Financial Secretary and National women Leader, National Vice Youth Leader and three Ex-Officio (two male and one female) go the North-east.

The South-south has the National Treasurer, Vice National Welfare Secretary, National Vice Chairman, National Youth Leader and Deputy Women Leader with National Leader-PLWD, Deputy National Legal Adviser and National Vice Women Leader, National Vice Youth Leader and the Ex-Officio (two male

and one female) The South-west: got the Deputy National Chairman, National Publicity Secretary, National Vice Chairman, National Financial Secretary and Vice National Organizing Secretary, Deputy National Youth Leader, Deputy National Auditor with National Vice Women Leader, Vice national Youth Leader three Ex-Officio (two male and one female) The National Secretary, Vice National Publicity Secretary, National Vice Chairman, National Diaspora Adviser and Deputy National Organizing Secretary, Deputy National Leader-PLWD and National Vice Women Leader with National Vice Youth Leader with three Ex-Officio (two male and one female) go the South-east.

2019: Obasanjo Backs South-east for President Sheriff Balogun in Abeokuta Former President Olusegun Obasanjo yesterday threw his weight behind the Southeast region to produce the next president of the country.

Obasanjo, who declared that his submissions were his personal view, stated that the problem of justice, marginalisation has been a major source of conflicts between ethnic and regional divisions in the country.

While speaking in Abeokuta, Ogun State when the leadership of Christian Association of Nigeria (CAN) Ogun State visited him, Obasanjo said it was part of what he resolved to do as just and fair country that made him to work for the emergence of a South-south president in 2009.

He said: “But irrespective of the thinking of the people ahead of 2019, I personally think that South-east should have a go at the presidency too.”

He therefore, said in the interest of justice and fairness, Ogun west senatorial district in Ogun state should be given the slot to produce the next governor of the state.

According to him, the same is happening here. If Ijebu and Egba have produced the governor, it is only fair and just to allow the Yewa or Ogun West to also produce governor. Or else, one day, they will also stand up and take up arms against this

injustice against them. That is my personally position on this.

Speaking on Southern Kaduna crisis, Obasanjo said Nigerians should not comment on what they do not really have detail reports of, saying “as this is largely responsible for the escalation of the situation.”

He said: “My findings so far show that everyone is talking from the position of strength.

People are not talking from knowledge of what they know and this is not helping. We must be able to dump all our sentiments to overcome the challenges.

“Just like other cases of injustice around us, we need peace; it is only peace with justice that can solve all these crises. Genuine peace is what everyone is craving for and this can only come when there is justice,” Obasanjo said.

However, the state Chairman of CAN, Bishop Tunde Akinsanya, described Obasanjo as a special gift to Nigeria and the entire world, considering his exploits and fatherly role so far.

While commending Obasanjo for facilitating the building of Ecumenical Centre in Abuja, he disclosed that his administration was also working on a similar project in the state.

He, however, appealed for the support of Obasanjo in actualising the project in the state, and congratulated him on his forthcoming 80th birthday celebration.

ECONOMY: BUHARI’S GOVERNMENT CONFUSED, ADAMANT, SAYS EZEKWESILI the remaining Chibok girls, saying the episode had exposed Nigerian governments in their “worst form.”

She spoke on what she would do if President Muhammadu Buhari invited her to serve; her perception of former President Goodluck Jonathan and her relationship with former President Olusegun Obasanjo.

Also in this edition, the

founder of the Centre for Values in Leadership, Professor Pat Utomi, spoke, among other things, on why he is not in Buhari’s cabinet and on Nigeria’s “self-inflicted recession.”

Entrepreneur, Mo Abudu; leadership capital enthusiast, Linus Okorie; and pharmacist-turnedbag designer, Maureen Obayewa, also share their experiences.

IMO IS WORKING

L-R: Chief Operating Officer, DANA Air, Mr. Mbanuzuo Obil; Speaker, Imo State House of Assembly, Acho Ihim; Governor Rochas Okorocha Captain of Imo Air, Mr. George Komander; Wife of the governor, Nneoma Nkechi Okorocha; and Deputy Governor Prince Eze Madumere, at the launching of Imo Air and celebration of the maiden flight at the Sam Mbakwe Cargo Airport....yesterday

Again, Court Grants Dasuki Bail Tobi Soniyi in Abuja An Abuja High Court has again reaffirmed the bail granted former National Security Adviser (NSA), Colonel Sambo Dasuki (rtd), and five others in the arm deal trial involving $2.1billion.

Justice Baba Yusuf reaffirmed the bail on Dasuki on the grounds that he (Dasuki) was entitled to it and having been admitted to same since 2015 when the federal government brought charges against him.

Dasuki and five others were re-arraigned before Justice Baba Yusuf on the criminal charges that were transferred from Justice Peter Affen also of an Abuja High Court.

However, after the 22-count charge were read to the six defendants and all pleaded not guilty, counsel to Dasuki, Mr. Ahmed Raji (SAN), applied to the court to reaffirm the bail granted to the ex-NSA even though he has not been allowed to enjoy same since December 2015.

Three different high courts have granted Dasuki bail but the bail orders were not obeyed by the government. He has been

in custody since December 2015.

The counsel stated Dasuki had been admitted to bail before he was illegally arrested and detained by the Department of the State Security Services (DSS).

Raji argued that with the transfer of the case from Justice Affen to Justice Baba Yusuf, the DSS had been separated from the matter, adding that the court record indicated that Dasuki was being prosecuted by the Economic and Financial Crimes Commission (EFCC) and not DSS that had been acting as interloper.

The counsel further said the illegal act of interloper should not be used to divest the court of its power to reaffirm the bail granted Dasuki earlier because he was entitled to it.

He then urged Justice Baba Yusuf to adopt the bail conditions earlier granted Dasuki before Justice Affen and reaffirm same in the interest of justice.

The counsel argued that it was wrong of the prosecution counsel, Mr. Rotimi Jacobs (SAN) to have objected to the reaffirmation of the bail condition on Dasuki,

adding that he (Dasuki) had in his possession a judgment of the ECOWAS Court which last year set aside the unlawful detention of the Ex-NSA and also imposed a fine of N15million on the federal government as compensation to his client.

Another Senior Advocate of Nigeria, Prince Lateef Fagbemi, who spoke as a friend of the court argued that there was no dispute that Dasuki was granted bail but has not been released by the DSS to enjoy the bail.

The senior counsel described the action of DSS as most unfortunate and urged Justice Yusuf to resist the temptation of being drawn into the illegality of actions of the DSS on Dasuki.

The federal government counsel, Mr. Rotimi Jacobs (SAN) had informed the court that he has no objection to the affirmation of the bail earlier granted to five other defendants in the trial but however urged the judge not to make any pronouncement or order in respect of the bail for Dasuki since he had not been allowed to enjoy any bail.

He said: “Court must not act in vain, there is no point making an order in vain. Dasuki has been in the custody of the DSS since 2015 and is still there till today.”

However in his brief ruling, Justice Yusuf said that it was an undisputable fact that Dasuki being the 2nd defendant in the charge was admitted to bail in 2015 and that it would be in the interest of justice to reaffirm the same bail irrespective of the action of another arm of the security agencies.

The judge adjourned trial in the matter to February 24, 2016.

Others charged along with Dasuki are former Finance Minister of State, Mallam Bashir Yuguda; a former Director of Finance and Administration in the Office of the National Security Adviser (ONSA), Shuaibu Salisu; Dalhatu Investment; Sagir Attahiru Bafarawa and a former Sokoto State governor, Alhaji Attahiru Bafarawa.

They were charged with corruption and breach of trust contrary to Section 215 of the Penal Code and Section 17B of the EFCC Act 2004.

WEDNESDAY JANUARY 25, 2017 • T H I S D AY

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NEWS

Okorocha Says Imo Unaffected by Recession Imo Air makes maiden landing at Sam Mbakwe Airport

Amby Uneze in Owerri Imo State Governor, Chief Rochas Okorocha, has declared that the recession currently ravaging states and the nation does not affect the fortunes of the state.

Even as the recession crunch hits the entire nation, Imo State is busy launching an aircraft business which is determined to take the state to an enviable economic status.

January 24 marks the maiden flight of Imo Air owned by the Imo State Government which landed at the Sam Mbakwe Cargo Airport Owerri with the first set of passengers, from Lagos and with the state governor, members of the State Executive Council and other Imo people at the airport to celebrate the feat.

The 140-seater plane with Imo Air written boldly on the body landed at the Sam Mbakwe Cargo Airport at exactly 11.42p.m., and is being operated for the state by DANA Airline because according to the governor, the state has not got the license to operate full – blown airline.

In his speech at the airport to herald the arrival of the Imo Air, Okorocha said it had been his dream and sincere desire to position the state on the fast lane of development, prosperity and growth, adding that he won’t rest on his oars until that dream is realised.

He also said Imo was not affected by the much-talked about recession in the country because some people might wonder why the state should dabble into airline business in time of recession, explaining that the state has cleared arrears of pension and has paid salaries up to December 2016, and is about to commence the payment of January salary.

He said: “This is a happy moment in the state. The aim of going into the air business is because I want to drive traffic to Imo State as Imo is genuinely becoming the fastest developing city outside Abuja and Lagos.

For this, there is need for more airlines to cushion the effects of high traffic coming to the state.”

The governor continued: “Imo government does not have an operating air licence. So we needed to partner with a good and qualified airline operator.

Hence, the choice of DANA Air because of its proven track record and sincerity of purpose.

The Imo Air will be operated by DANA and we have a contract of ten years with them. We have five of this aircraft and the first one has just landed and four other ones will start operation in few weeks time.”

He explained, “The Sam Mbakwe International Cargo

Airport will soon kick-start to complement the efforts of Imo Air. In our pursuit of making Imo better, Imo International Cargo Airport will soon commence operations.

Work is going on smoothly and

by April God’s willing the fastest International Cargo Plane will arrive Imo State.

“This, we believe will help drive up commercial activities in the state.

Imo State is a hub for business and there is no better place to invest now in Nigeria than the state as in spite of the recession, the state is still flourishing and progressing because of its visionary leadership,” he said.

He informed that Imo Air would have 10 per cent discount to all Imo indigenes flying the plane and the operation would equally

employ over 30 per cent of Imo sons and daughters to help in the management of the Imo Air.” The DANAAir Chief Operating Officer, Mr. Mbanuzuo Obi, said: “The partnership between DANA and the good people of Imo State will create employment and better working relationship for the State. Imo Air is in safe hands and the choice of DANAAir

for the partnership is an excellent choice as DANA Air is registered with Interational Air Transport Association operations and security treasuring.”

He added that DANA Air has the best Customer Service Awards for three years running and has also been known to operate one of the top most operational brands in Nigeria.

Osinbajo Accuses Some Govt Agencies of Frustrating Small Businesses Tobi Soniyi in Abuja Vice President Yemi Osinbajo yesterday accused some government agencies of hindering the development of businesses in Nigeria and frustrating the federal government’s desire to ease the process of doing business.

Osinbajo, who spoke at the media launch of Micro Small and Medium Enterprises Clinics at the old Banquet Hall of the Presidential Villa, Abuja, however did not mention the names of the agencies.

He said urgent steps must be taken to change the orientation of these agencies so that they would see themselves first as facilitators of business and not merely revenue-

generating bodies.

He said when he toured the country in his capacity as the head of the Economic Management Team, he received many complaints of how difficult it was for businesses to get government’s approval on virtually everything. According to him, some small manufacturers after hiring consultants to take them through approval processes, still took a year to get approval for them from some agencies.

He said, “Just yesterday (Monday) at the quarterly business forum with the organised private sector, one of the participants again complained very loudly about the near impossibility of getting approvals for manufacturing.

“The complaint was so loud that everybody in the room agreed with this lady.

“This was for me a very disturbing finding and very disturbing development because it meant that our agencies were yet to buy into our major plan of economic recovery which is to make it easier to do business in Nigeria. “It is also an indication that we need to do something to change the orientation of our various agencies.

“Instead of being merely revenue-generating, the various agencies must see themselves as facilitators of business first.

“An agency of government that is meant to grant approval must see this first and foremost

as its primary objective, if not we have lost focus completely. Then we are no longer active participants in the economic plans and goals of the nation but we have set ourselves up as something else, we have become obstacles.” In order to address the challenges, Osinbajo said his office in conjunction with the Ministry of Industry, Trade and Investment came up with the idea of MSMEs Clinics.

He said the idea was to bring together key federal government this agencies with which the MSMEs interact in one place at a time to enable small businesses consult with them directly and obtain solutions on the spot.

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T H I S D AY WEDNESDAY, JANUARY 25, 2017

COMMENT

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

AGENDA FOR PRESIDENT TRUMP (2)

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President Trump should reverse laws on same-sex marriage and related issues, writes Sonnie Ekwowusi

he Obama/Clinton administration will be remembered for one monumental failure - the deconstruction of the natural law and the laws of God which culminated in the re-definition of a human being and the re-definition of marriage in the U.S as adumbrated in the historical case of Obergefell V. Hodges. In that case, the American Supreme Court tragically ruled that a man can “marry” a man and a woman can “marry” a woman. It is instructive that prior to Obergefell V. Hodges, Obama had already adopted the United Nations lesbian, gay, bisexual, and transgender (LGBT) rights policies. Obama would later spread those despicable ideas across the world.

Obama ran a gay government. He made homosexuality the centre-piece of American foreign policy. African countries which sought for assistance from the U.S. were forced to first embrace LGBT as a pre-condition for being granted the assistance. Obama penalised Nigeria for signing the anti-gay bill into law by withholding America’s assistance to Nigeria to dislodge the Boko Haram in North-Eastern Nigeria. It was under Obama that America became a major exporter of gay rights. For the first time in the history of America, an American gay envoy was appointed and gay office opened for the purpose of homosexualisation of the world. Gay cartoons targeted at under-aged children were shown on TV aimed at exposing these hapless children to gay practices. I remember that some Nigerian mothers protested against these gay cartoons targeted at Nigerian children.

Therefore, President Trump should appoint the right judges to the Supreme Court aimed at reversing Obergefell V. Hodges. Trump should return America to the path of natural law and laws of God which are the superstructure of American founding and the standards of American political life. The American democracy was founded on a strong moral tradition. The American founding fathers were deeply religious people.

The idea that human beings were created in the image and likeness of God has always formed the theological underpinning that shaped the lives of most Americans. The official motto of the United States is “In God We Trust”. This motto is inscribed on the American dollar note and the American coin. But Obama ignored this motto. He played God. For example, whereas, there is a biological difference between a man and a woman, Obama decreed that there was no biological difference.

To Obama, a man, who has not even done a transgender surgery, can claim to be a woman. Conversely, a woman, who has not even done a transgender surgery, can claim to be a man. President Trump should scrap this nonsense.

In the beginning, the gay right movement was not known in the United States. Under the common law, marriage is recognised as a contract between a man and a woman. At the dawn of American Revolution this common law concept was adopted and became part of American laws. Suffice it to say that several states in the United States later passed laws prohibiting sodomy. Penalty for indulging in sodomy included long sentence and long fines. At the dawn of the 19th century and even early 20th century, several states in the United States imposed laws against sexual deviant behaviour like homosexuality. The American courts have been more inclined in protecting marriage between a man and a woman as the foundation for inculcating moral character in and undergirding American civil society. For example, in 1823 court decision, John Marshal held that the “sacredness of the connection between husband and wife” would pave way for a harmonious American society. In the late 1885,

THE IDEA THAT HUMAN BEINGS WERE CREATED IN THE IMAGE AND LIKENESS OF GOD HAS ALWAYS FORMED THE THEOLOGICAL UNDERPINNING THAT SHAPED THE LIVES OF MOST AMERICANS. THE OFFICIAL MOTTO OF THE UNITED STATES IS ‘IN GOD WE TRUST’

Justice Stephen J. Field held in U.S. Supreme Court, “No legislation can be supposed more wholesome and necessary in the founding of a free, self-governing commonwealth…than that which seeks to establish it on the basis of the idea of the family, as consisting in and springing from the union for life of one man and one woman in the holy estate of matrimony; the sure foundation of all that is stable and noble in our civilisation; the best guarantee of all that reverent morality which is the source of all beneficent progress in social and political improvement”.

Consequently, as I said earlier, Trump should return America to the path of sanity. Human beings are not animals. Even in the animal kingdom male animals do not have sex with male animals. Ditto among female animals.

Can President Trump enthrone a new international order where peace, justice, service, respect for human dignity, intrinsic worth of the human person and mutual understanding will reign? A life ruled by terrorism, clashing of arms, suicide bombings, shedding of human blood, wars and rumours of wars is certainly no life. With regard to the Middle East crisis threatening international peace, can Trump’s government overturn the United Nations Security Council resolution on Israeli settlements? You will recall that on December 23, 2016, the United Nations Security Council passed its Resolution 2334 (2016) confirming that Israel’s colonies in the Occupied Palestinian Territories (OPT) are illegal and, consequently, that Israel was in flagrant violation of international law. The resolution was passed by a vote of 14-0 with the United States and a few other countries abstaining. Shortly after the resolution, Trump tweeted that things will look differently in the United Nations after he is sworn in as president. How will President Trump forge a new Israel-Palestinian rapprochement bereft of violence and conflicts? We are watching.

Finally, what will be the thrust of Trump’s African policies? Coming home, how will Nigeria fare under Trump? Trump should save Nigeria from the bad influence of some U.S NGOs, agencies and wealthy U.S. citizens. These U.S. agencies and U.S. citizens are sponsoring programmes in Nigeria capable of damaging the character of the Nigerian young. Four years ago the Nigerian media widely reported that the Bill & Melinda Gates Foundation, in conspiracy with Pfizer Pharmaceutical Inc., and others, had rolled out in Nigeria and other African countries one-dollar injectable contraceptives called Sayana press injectable. The targets were secondary school girls. They could privately inject themselves with Sayana press injectable and become sterile.

Under the influence of some U.S. NGOs and agencies, the obnoxious comprehensive sexuality education topics have been craftily hidden in the Integrated Science, Social Science and other subjects taught in public secondary schools in Nigeria. These topics are meant to teach secondary school pupils how to practice masturbation, sterilisation, how to do breast enlargement, penis enlargement, how to wear the condoms, how to do abortion, and so forth. About 15 years ago, some angry Nigerian parents filed a law suit against the government at the Federal High Court over the teaching of immoralities in public secondary schools in Nigeria. Their lawyer, I remember now, was the late Mrs. Sylvia Shinaba, SAN. While they are not in a hurry to re-introduce history as a subject in the syllabus in Nigeria, they are in a hurry to teach our children the U.S sex- education that harps on “right” to free-sex, masturbation, sterilization, and so forth. Obama turned a blind eye to this perversity. President Trump must not do so.

A TASTE OF EXCELLENCE

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Soyombo Opeyemi pays tribute Ibikunle Amosun, Ogun State Governor, at age 59

ome months ago, I sent a copy of a book, which is to be presented to the public next month, to the governor of Ogun State, Senator Ibikunle Amosun. Quite unknown to His Excellency, that was the third computer print-out of the copy. The first had a tiny scratch on the inside of the hard cover, which, ordinarily, could have been dismissed by many folks as unimportant since it was not so much visible and did not affect any letter or word in the book. But I rejected it and paid for another to be made. As it happens, the margin provided in the second attempt was too narrow, as if the size of the book or paper was being “managed”.

Worse, the cutting was not exactly perfect. Although those not knowledgeable in the art of publishing might not notice these two observations, I rejected it because I knew the governor would notice the two shortcomings. It was the third copy, which could be described as an excellent workmanship, that the governor received.

I do have encounters with people from time to time who will tell you this mistake or that error does not matter. “Oh! This is a small error. No one will notice it. It does not matter!” But I know you cannot work with Senator Ibikunle Amosun and settle for second best. You can’t work for the governor if you don’t pay attention to details. It has nothing to do with ostentation or flamboyance but that in anything you do, no matter how small it is, let there be a taste of excellence. If possible, let it be perfect.

Even when you present a document to SIA (as

he’s fondly called), the way you staple it matters - is it straight or slant? When you make photocopies, are the copies straight or bent; are they neat? No, it is not enough to say, “The words are clear and that’s what is important!” The edges equally need to be aligned to the A4 paper - the presentation or output matters. May God grant us all the spirit of excellence.

I cherish all these. Some people feel when you do these things, you are harsh or making life difficult for them. Yet the best way to actually help people is to hold them to the highest standards - the ideal.

They are the ones who should leave their carefree comfort zone and aim for the best output.

For the Ogun State governor, what is worth doing at all is worth doing well - to the best standards.

Amosun is a stickler for international best practices.

According to “The Ogun Standard”, a concept he enunciated in 2012, every project or process should aim for international best practices; it should be a model for others.

I recall one facility built to Nigerian standard in Ijebu Ode, which was to be inaugurated on a particular date. The unveiling had to be postponed at the last minute because the governor wanted the project to be the best it should. For him, it’s not how small but how standard. We went to Ota to unveil a community road early in the life of the administration. It was done in collaboration with a company. Of course, the governor was happy to be in the midst of the masses but it was evident he felt they deserved something better. And the Ota people eventually got what they deserved in the modern

Ota township roads with pedestrian walkways, drainages, medians, etc.

It is this same taste for excellence that defined the construction of the Ogun Model Secondary Schools.

These are international standard facilities that will take Nigerian education to the 21st century or the education jet-age. No, Amosun is not building for today only, but tomorrow and the next.

If you were at a section of the Olabisi Onabanjo University Teaching Hospital (OOUTH) the other day, you would think you were accessing a health facility in Europe or North America. It shows that if subsequent administrations in Ogun sustain this progressive march, it is only a matter of time before the state exchanges a handshake with the developed cities of the world.

It is not difficult to recall the pressure brought to bear on the governor concerning the Workers’ Estate. He resisted, wondering how he should be expected to build sheds or shells for workers, paint the front walls, invite the media and then pronounce them houses! I still recall vividly how he shook his head in wonder on that day at June 12 Cultural Centre. I visited the recently-inaugurated estate (named A.A.K Degun MITROS Estate) on Christmas day to once more assess the ambiance.

I’m sure those workers who initially wanted the Nigerian standard, which people were used to, are now exceedingly happy with the Ogun Standard estate. And the headlines in the papers on December 5, 2016 read, “Amosun rewards three civil servants, street sweeper, traffic warden with houses,” during the inauguration of the estate. They are modern

houses, not sheds or shells...

The Workers’ Home consists of Two-bedroom semi-detached bungalows, Three-bedroom semi-detached bungalows and Two-bedroom flats. It has a well-laid road network with modern drainage, a pavilion for recreation and two modern mini-supermarket stalls. There’s the Laderin Neighbourhood Market to complement the needs of the estate. There are street lights, transformers and a water treatment and storage tank.

I observed a serene ambiance, providing the comfort needed for that stratum of the society.

What is worth doing at all is worth doing to the best standard!

The interesting thing is that all the classes of the society have been catered for in the housing architecture of the state government and no class is left behind in the provision of modern facilities.

Mrs Jumoke Akinwunmi, Special Adviser to the Governor on Housing and General Manager, Ogun State Housing Corporation, and Mr Jide Odusolu, General Manager of Ogun State Property Investment Corporation, have really worked hard to translate the vision of Governor Amosun into reality.

Time, certainly, will fail me to go on. Amosun’s taste for excellence is not 180 but 360 degrees. So in his choice of a life partner, he also settled for the first best, not second. It is no wonder God has blessed them with excellent and excelling children. Happy birthday to the moderniser, the governor of Ogun State, Senator Ibikunle Amosun.

Soyombo wrote from Abeokuta via densityshow@yahoo.com

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T H I S D AY • WEDNESDAY, JANUARY 25, 2017

EDITORIAL THE POWER SUPPLY SCANDAL

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After three years of privatisation, the power sector is still in a shambles

hen in November 2013 the electricity distribution and power generation companies were handed over to some private operators at an elaborate ceremony, the hope was that daily blackouts and power outages would be minimised until they are gradually eased out.

But it is now apparent that those hopes were largely misplaced. Today, consumers are paying more and getting less power at a time the exchange rate and the tariff structure make both generators and diesel prohibitive. The question then remains: how can an economy get out of recession if there is no electricity to power basic industrial and domestic operations at reasonable cost?

Across the country, there is hardly any part that does not experience power failure on a regular basis.

In most places for several days and sometime, weeks, many people have no access to electricity to lighten the burden of living.

HOW CAN AN ECONOMY Lack of electricity also GET OUT OF RECESSION limits their access to IF THERE IS NO healthcare, education ELECTRICITY TO POWER and other opportuniBASIC INDUSTRIAL AND ties, including runDOMESTIC OPERATIONS ning their businesses.

Indeed, many small AT REASONABLE COST? and medium scale businesses have been crippled due to the prohibitive cost of generating their own power. Even the big business ventures, particularly the manufacturing ones, are also feeling the biting effect of energy poverty with consequences stretching to every part of the economy.

With the collapse of the transmission infrastructure downing generation to barely 1700 megawatts as at last week, the country is back in the dark. Given that situation, what Nigerians now get, almost on a daily basis, are stories and more stories either about

Letters to the Editor

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non-availability of gas, low water levels at the hydro stations or “systems collapse”. For instance, the daily operational report from the system operator, an arm of the Transmission Company of Nigeria (TCN) showed that after last week Sunday’s system collapse, generation ramped up to 3,215 megawatts last Tuesday. But within a period of 24 hours, the hourly load demand showed that the 11 distribution companies were allocated 1,667 megawatts of electricity for one hour, 2,393 megawatts for five hours, 2,175 megawatts for six hours and 2,013 megawatts for 12 hours.

F T H I S DAY

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

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

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TO OUR READERS Letters in response to specific publications in THISDAY should be brief (150-200 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (9501000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer.

PLIGHT OF COMMERCIAL MOTORISTS

he Nigeria Police is purportedly created to ensure strict adherence to the laws and regulation they are directly charged with. One of such laws is the traffic law which motorists are often found to violate. While the breach of traffic laws is an offence that attracts strict sanction, traffic police are expected to always work strictly within the law in dealing with suspects. To effectively carry out their duties, traffic officers are empowered to make arrests, keep offenders in custody pending trial, investigate, and prosecute where there are enough evidences for them to do so.

In the course of carrying out his/her official duty, a traffic police officer is allowed to use some measure of force. However, it is expected of an officer to use force only after discussion, negotiation and persuasion had failed. While the use of force is occasionally unavoidable, the Nigerian Police code of Conduct negates the infliction of pain or suffering on suspected traffic offenders. Thus, it is safe to say that there is a legal limit to the amount of force a police officer can exert on a suspect. Unfortunately, these limits are often exceeded by traffic police officers when they come in contact with the not so rich commercial motorists at traffic routes and checkpoints.

Today, we find furious policemen roaming around traffic routes and checkpoints, pointing sticks at public taxi drivers and threatening to inflict bodily harm even before the taxi driver had violated any traffic laws. Recently, I witnessed how a policeman (traffic warden) battered a commercial motorcyclist claiming that the motorcyclist disobeyed the traffic in crossing over to the other side of the road.

How can a policeman standing on one side of the road know what is happening on the other side? The motorcyclist was later taken to

or sure, there are serious problems to overcome in the power sector. The desired result of adequate electricity generation and distribution is still far from being achieved. The nation has been told times without number that the power plants are generating some thousands of megawatts of electricity. For most Nigerians, these are meaningless jargons. But the worry is that there is no indication that anything will change very soon. Ageing and obsolete infrastructure inherited by the new owners have combined with inadequate finance to ensure that it will take some time before there could be any noticeable improvement in the sector.

The story of power supply in Nigeria has been that of motion and no movement. We have gone through layers and chains of committees; we have experienced commercialisation; we have witnessed the “unbundling” of the power sector; then there was the National Integrated Power Project which was more noted for corruption that it even tainted a committee of the House of Representatives that tried to probe it.

Instructively, when President Muhammadu Buhari came to office more than a year ago riding a crest of popular support, there was an acknowledgment that a major challenge would be in the area of power supply, without which other elements would suffer.

But just about four months to his second anniversary as president, Nigerians are still waiting for just a chink of light to show that the promised change is indeed on course.

the station in spite of his repeated protests. It dawned on me that the motorcyclist had just begun to suffer in the hands of men in black.

The fact that the self-acclaimed omnipresent policeman assaulted him against constitutional provision could not even save him. He ought to have known that a policeman will always find justification for his misconduct.

Even though the traffic policeman is aware that his overzealousness toward the commercial motorist is a breach of the law and human right provisions, he had prepared and perfected different justifications for his misconducts. A policeman would argue that, he assaulted a wrong doer in order to stop him from fleeing. Do not be astounded when a policeman claims he shot an over speeding commercial motorcyclist in Lagos because he suspected him to be one of the fleeing Boko Haram terrorists from Maiduguri. If a policeman does not abuse a suspect in public, he is only cautious of the presence of potential witnesses around. He will not falter to do so as soon as he takes the suspect to the police station.

Furthermore, commercial motorists are extorted of their daily proceeds when they come in contact with police at checkpoints.

The ‘anything for me’ slogan is for the rich and literate road users whose identity is unknown to the police or who is not afraid of the consequences of not having something for the officer. A public bus driver is quite aware that having something for the officer is the only condition for passing the examination at checkpoints, so he does so even before a request is made by the police. It is not important whether the motorist has in his possession some improvised explosive devices or other contrabands.

Muhammed Abass, muhammedabassofficial@gmail.com

MAKE OUR OLD NATIONAL IDS USEFUL

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write on the value of the old National ID card. It has been three months since I have been battling with linking my Ecobank account to the account holding my BVN First Bank. Ecobank made a mistake on my date of birth and that perhaps is why the date of birth on both accounts did not tally.

During my immediate past birthday, Ecobank sent me two different birthday wishes. How is it possible that I should have two birthdays?

Just within the same month, a friend of mine sent me money through that account but I couldn’t withdraw it. I have been asked to swear to an affidavit for the correction of my date of birth, together with a valid ID card. I have done all of that.

The problem is that for most of us with this problem, the banks are not accepting our old national IDs. They say they have instructions from the CBN. And so I did apply for a new one and a week later I got the temporary (NIMS) ID card. The most frustrating and annoying part of the drama was when I got back to the bank, I was told again that the temporary (NIMS) ID card cannot be used because it carries no date of birth on it. So, my question to the federal government and Central Bank of Nigeri is: Why have you give instruction that banks should not accept the old National ID card whereas the temporary one can equally not be used?

It takes almost a year to get the plastic ‘approved’ National ID card. How then can citizens who don’t have a PVC, driver’s license or an international passport identify themselves when the need arises?

Assurance Ovie, Benin City

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T H I S D AY • WEDNESDAY, JANUARY 25, 2017

MIDWEEKPOLITICS

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

THE NEWSMAKER

Wike’s Grouse Since the last rerun elections in Rivers State, Governor Nyesome Wike has been at daggers drawn with the security agencies. But who will blink first, asks Davidson Iriekpen

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he last has not been heard on the recent dismissal of six policemen attached to the Rivers State Governor, Nyesom Wike by the police high command on their role in the December 2016 rerun legislative elections in the state. The officers, according to the Force, were dismissed for their misuse of firearms during the election.

According to the Force Public Relations Officer, Don Awunah, the officers flouted the rules by flagrantly escorting their principals and political office holders to polling booths during the elections. He said the officers were found guilty after discreet investigations into their misconducts during the election, adding that the six personnel were found guilty of total disrespect to orders and directives, compromised, engaged in unprofessional acts and other unbecoming conducts.

However, speaking with THISDAY last week, the state Commissioner for Information and Communication, Dr. Austin Tam-George, said the dismissal of the officers was in bad taste because they were only victimised for stopping an assassination attempt on Wike.

Tam-George said: “These officers committed no crime other than stopping a carefully planned assassination attempt on the life of Governor Wike. The officers are the latest victims of the medieval authoritarianism of the All Progressives Congress (APC)-led federal government that seems to lurch blindly in the miasma of its own incompetence.

“The APC government has never hidden its desperation to overrun Rivers State, colonise its people and loot the treasury of the state, but the Rivers people have seen the face of the Lord, and will spare no sacrifice as we resist their satanic agenda.”

While the state government and the police authorities are at war over the issue, some observers sympathetic to the cause of the state government are equally not happy with the decision of the Force to dismiss the officers, who by all standards were not on illegal duty.

They accused the police of bias and wondered why the police authorities or army shielded the officers attached to some APC chieftains for punishment.

Some of these observers contended that rather accept the incompetence of the Force, the Inspector General of Police, Ibrahim Idris, is looking for a scapegoat to hold responsible.

They submitted that the quick dismissal of the police officers has not only given the Force away as a bias agency but one that is out to achieve a pre-determined objective – indict Wike and his government at all cost and put the blame for the crises that characterised the rerun elections on the governor.

“It is sad that rather than dispassionately and honestly investigating whether the police participated in rigging the elections; if army was involved in all that went wrong with the polls or whether INEC compromised itself in any way before and during the elections, the police force has already jumped into conclusion.

“Where they even made the case worse or gave themselves away is that the panel set up by the IG has not even submitted its report.

So on what basis then did they act,” queried a public affairs analyst, Simon Adebo.

They wondered why the police authorities were yet to arrest for interrogation those alleged to have masterminded the gruesome murder of DSP Mohammed Alkali and his orderly and those caught on tape carting away ballot boxes.

Long before the polls, allegations of impartiality by the police and the Independent National Electoral Commission (INEC) had become an issue. Wike and other stakeholders in the state had complained that the two agencies had compromised themselves by meeting some

Wike...unhappy about the sack

chieftains of the APC to strategise on how to swing victory in favour of the APC. After the initial denial, INEC owned up that indeed its Chairman, Mahmoud Yakubu, met with some APC officials. It, however, claimed that the meeting was part of efforts to ensure peaceful elections. If that was the case, why were the other parties left out of the meeting?

This was followed by the arrest of some printers caught in Port Harcourt with thousands of INEC documents. Upon their interrogation, the suspects named a chieftain of the party as the sponsor of the nefarious act. Rather than arrest the chieftain and parade him for such an

These officers committed no crime other than stopping a carefully planned assassination attempt on the life of Governor Wike. The officers are the latest victims of the medieval authoritarianism of the All Progressives Congress (APC)-led federal government that seems to lurch blindly in the miasma of its own incompetence

obnoxious act, the police authorities moved the case to Abuja, where it has died a natural death.

The climax perhaps was when the national secretariat of the APC inaugurated a special committee of five governors to plan for the elections. Governor Abdullahi Umar Ganduje of Kano State, who later headed the committee further exacerbated tension when a few days to the elections, he disclosed that having won the governorship polls in Edo and Ondo States, the APC had fresh ideas and strategies on how to win the rerun elections in Rivers State.

The Kano governor, after reportedly meeting with President Muhammadu Buhari in Abuja, told State House reporters: “It is not normal” to have a free and fair election in Rivers State, vowing that the APC would make it normal this time.

“We’re prepared. We just came out of the Ondo elections. We’ve fresh ideas. Even though both environments are different, we’ve our own strategies. We are making wider consultations with stakeholders and we believe we will succeed,” he said.

Responding, Wike said Ganduje’s comments were unfortunate. He said his state was waiting for the Kano governor and his party to perform a magic in the rerun polls, stressing that Rivers was only asking for free and fair elections.

“It’s unfortunate if he (Ganduje) said so.

As far as I’m concerned, elections have been normal in my part of the country. All we are asking for is free and fair election. Is Governor Ganduje speaking on behalf of INEC? Is he the one conducting the elections now? When his friend won the governorship election in Rivers State, the election was normal. The election was also normal in Edo State, where his party won.

We are waiting for him to come and perform the magic he did in Kano State,” Wike said.

Some of those who read the comments and other remarks from party leaders knew that there would be trouble which the police and other retinue of security agencies failed to tackle.

Instead they were alleged to have become a

tool in the hands of both the opposition and the PDP. This is why they are calling on the police and INEC to focus on issues in line with their statutory duties and stop chasing shadows.

Before the rerun elections, also, the APC did not hide how important and strategic winning Rivers State could be to it. Shortly after the party lost the governorship seat to the PDP at the Supreme Court, the National Chairman of the party, Chief John Odigie-Oyegun, did not hide how he felt.

He lamented thus: “I still find the judgment on the Rivers State governorship election totally astonishing…we have lost very important resourcerich state to the PDP. No matter how crude oil prices have fallen, it is still the most important revenue earner for the country.”

It is therefore generally believed that the APC saw the rerun elections as an opportunity to make a bold move to recapturing the state.

As events stand today, nobody can claim not to recall that Wike as the chief security officer of the state, a few days to the election, had informed the police high command that the state Commander of Special Anti-Robbery Squad (SARS), Mr. Akin Fakorede, had assigned SARS personnel to APC candidates and chieftains, allegedly for the elections.

The governor, whose contention has always been that if INEC must conduct election in the state, it must be free and fair, said the SARS personnel were assigned to the APC candidates and chieftains for the purpose of snatching election materials and the intimidation of PDP supporters. He wondered why politicians, who are expected to stay away from the polling units, were allocated SARS officials.

It was against this background that Wike while reacting to the audio tape allegation stated that it was contrived and sponsored by the APC to divert public attention from the massive electoral fraud by INEC, police and military killings that marred the rerun elections. He said the audio clip was fabricated using audio software and that he never spoke with any electoral officer or anyone for that matter, either in person or over the phone seeking to influence the elections.

The governor stated that rather than bring the SARS Commander, Fakorede, to justice for his role during the rerun elections, the police authorities have arrested the policemen, who accompanied him to stop Fakorede from swapping Rivers East senatorial district results sheet.

“Face the reality and stop chasing shadows. Let them show me. What is audio clip? What can’t this government do? I don’t have an orderly. I don’t have a Chief Security Officer. I don’t have a camp Commandant. All were taken away before the election.”

Wike said the suspect who beheaded the DSP Akali in one LGA during the elections was arrested alongside his colleagues and their sponsor, the former state Commissioner of Power, but an order from above led to their release.

He said it was after the illegal release that the suspects committed the heinous crime. He also alleged that a notorious politician in the state was arrested during the elections with AK 47 rifles and he also dressed in military uniform, but was released because he is a prominent member of the ruling political party.

To those who have been following developments in the state, the fact that 28,000 police officers were deployed to complement the regular police officers in addition to the officers from the Department of State Services (DSS), army, navy and the Nigerian Civil Defense and Security Corps (NCDSC) on the ground in the state and yet the election was marred by irregularities and loss of lives was the height of incompetence.

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

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T H I S D AY • WEDNESDAY, JANUARY 25, 2017

ONTHEWATCH

PERSPECTIVE

Amosun: Portrait of a Social Engineer The Ogun State Governor, Senator Ibikunle Oyelaja Amosun, who is 59 today, is through deft statecraft and social engineering changing the face of Ogun State, writes Rotimi Durojaiye

Y

ou may like Governor Ibikunle Amosun. You may not like him.

You may approve of his policies.

You may not approve of them.

But give it to him: He has guts.

He has courage. The decisions he has taken in the last five and half years bear testimony to this. You cannot possibly ignore SIA, as he is fondly called by his political associates. And this is not simply because he is the governor of the gateway state.

Who is Ibikunle Amosun? An ordinary man who has an extra-ordinary determination to serve, who has his faults, who makes mistakes and he is the incumbent governor of Ogun State.

But this simple definition says little of the complex man who has served an equally complex state since May 29, 2011. A Japanese once said of the late great American soldier, General Douglas MacArthur: “Not a simple man.” Many citizens of Ogun State would say the same of their governor. Governor Amosun is the stuff of the social scientist’s nightmare.

In 2011 when he took over, Amosun set out to charm the good people of Ogun State. He threw his arms around the citizens, clasping them in his warm embrace. He showed he understood the pains and the trauma of the state. It was clear, even that early, that the people had a governor who knows better than most how to package himself – his own best salesman. He exuded charm and friendliness. He wore a sunny disposition and he appeared to approach governance with a disarming casualness that demystified the art and made it less esoteric.

His was a herculean task; getting a mandate to govern a state that had suffered some setback over time, a state where standards had been thrown to the dogs, a place where the state’s account, even by the admission of his predecessors, was in the red.

Indeed, what Governor Amosun inherited when he assumed office was enough to make a lazy mind throw up his arms in frustration and surrender to fate. There was a sure lack of development, to which Amosun pledged to minister, but there was no money to either address these challenges or fulfil some basic necessities.

Faced with a bleak future for oil revenue and a rush of social and economic migrants from Lagos and other neighbouring states, Governor Amosun had initiated creative strategies to raise good money to fund gigantic projects and meet the needs of the state’s burgeoning population. He is beating a retreat from resting on the rickety base of oil economy.

Buoyed by his private sector background, he quickly set in motion necessary machinery to remove the bureaucratic bottlenecks associated with government officials and created an atmosphere conducive for investment.

Figures obtained from the National Bureau of Statistics (NBS) in January 2017 revealed that a total sum of N3.5tn was earned as IGR by the 36 states of the federation within a 66-month period from January 2011 to June of 2016.

Ogun State, according to the bureau, came third by generating a total sum of N145.1bn in the period. It was able to grow its IGR from N10.8bn in 2011 to N56.2bn by 2016.

The IGRs made by the state under Governor Amosun excluded the monthly allocations, which states receive from the Federation Accounts Allocation Committee. The NBS stated that the IGRs were generated from five main sources. They are Pay-As-You-Earn; direct assessment; road taxes; Ministries, Departments and Agencies of government; and other revenues.

Again, Amosun has assured the citizens that the state will witness massive rural road construction in 2017.

As part of his 2017 New Year message, the governor promised that “We will take advantage of the opportunities provided by the World Bank through the Rural Access and Mobility Project (RAMP) to ensure easy access to farm produce and mobility of rural dwellers to modern facilities such as pipe

Amosun...really unique

borne water, electricity and qualitative health care delivery.”

In the New Year, Amosun is also looking more seriously at agriculture and Agri-business.

The governor also seized the occasion to reassure the good people of Ogun State that his administration will leave no project uncompleted.

“Let me again re-assure you that the commencement of new projects will not in

Modesty comes easily to Amosun. A man whose guiding philosophy in life is patience and his approach to issues is unobtrusive. It has helped him to charm his way in and out of complex and complicated situation

any way affect the completion of on-going projects spread across the three Senatorial districts,” he said.

Modesty comes easily to Amosun. A man whose guiding philosophy in life is patience and his approach to issues is unobtrusive.

It has helped him to charm his way in and out of complex and complicated situations but it has also given others a wrong signal about the man and his character.

Governor Amosun does not crave to be liked; rather, he craves to be understood as an honest, decent man with honest intentions and who cannot hurt a fly. Someone said MacArthur “clothed himself in a cloak of dignified aloofness.” Governor Amosun clothes himself with dignified charm.

But no man can win them all. Governor Amosun just cannot. There are those who would clamour to have him as a neighbour and there are those who would wish he lived on the other side of the bridge.

Uneasy lies the head. Two things have always served Governor Amosun well in life. The first is patience and the other is courage. He has brought both to bear on his administration of Ogun State. He set out not only to serve Ogun State but to change it in a positive, fundamental sense.

He allows nothing to dissuade or distract him from that chosen course. He has found nothing sacred or untouchable. He has challenged the powerful and entrenched civil service and

fundamentally restructured it, unbothered by criticisms and plaintive cries for maintaining the status quo. Only a man with the courage of his unflawed conviction could take on so much, unfazed by its enormity. He is Ogun State man of the hour. He was chosen at this time and in this age to make Ogun State different.

Amosun admits he is not perfect. No one is. Nor is he afraid of making mistakes. But once he sets his sight on course, there is no looking back. He is not a man of thundering contradictions. Amosun is a compassionate and generous man. He is simple but tough.

He listens to people but relies more on his own instincts.

Governor Amosun shows a genuine liking for people but he refuses to spare the rod when necessary. He is a sympathetic man who makes a fine distinction between sympathy and sentiment. He understands that Ogun State is in a hurry for development, he shares that feeling too but he is unwilling to sacrifice success for speed. Amosun’s desire is to take Ogun State to where it should be in the comity of states.

As I wish His Excellency a Happy Birthday, I pray that God grants him many more years of good health, fulfilment and joy.

Durojaiye, Governor Amosun’s Special Adviser, Information and Strategy, wrote in from Abeokuta, Ogun State

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WEDNESDAY, JANUARY 25, 2017 • T H I S D AY

FEATURES

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

Osinbajo’s Delta Visit Raises Hope Sylvester Idowu reports on Vice President Yemi Osinbajo’s recent visit to Gbaramatu Kingdom and Warri in Delta State, raising hope for sustained peace in the oil-rich region

T

here is no doubt that Ijaw's Gbaramatu kingdom in Warri South West Local Government Area of Delta State has, of recent, been the heart of renewed agitations in the Niger Delta region.

The area has been the epicentre of incessant bombings of national assets, particularly attacks on crude oil pipelines which has forced the production output to as low as 1.2 million barrels per day as against over 2 million prior to 2015 elections in which former President Goodluck Jonathan, also an Ijaw man, lost to the incumbent President Muhammadu Buhari.

Since the outcome of that election, his kinsmen and women returned to the creeks in renewed agitation for the development of the Niger Delta region which is seen as the source of the wealth being used to run the country.

To stem further destruction of national assets and agitations, the Federal Government employed several means including meeting with the elders and stakeholders under the platform of Pan-Niger Delta Forum (PANDEF) led by former Minister of Information, Chief Edwin Clark.

Buhari had received Clark's team at Aso Rock Villa in Abuja last year November 1, during which PANDEF presented a 16-point demand that will resolve what is now known as the "Niger Delta Crisis" with assurances that the Federal Government will study and address some of the issues raised.

However, three months after that visit and to douse the growing feelings of unseriousness on the part of Federal Government to commence dialogue with the people of the region, President Buhari sent Vice President Yemi Osinbajo on a fact-finding visit to Delta, Bayelsa and Rivers States.

The first leg of the visit by the Vice President was to Delta State on Monday, January 16, 2017 to the admiration of not only the Niger Deltans but all Nigerians as a whole.

As early as 7a.m. thousands of indigenes as well as non-indigenes had thronged Osubi Airport to await the arrival of Vice President Osinbajo slated for 10 a.m. Amongst those at the Airport were the host Delta State Governor, Dr. Ifeanyi Okowa, the Secretary to the State Government, Sir Ovie Agas, commissioners and other top government functionaries, royal fathers as well as traditional dancers that kept the place lively.

At exactly 11.38a.m, the approaching presidential jet conveying the Vice President was sighted and the airport became electrified again as weary people waiting for him rushed to the tarmac to receive him. After a brief reception and introduction of dignitaries, Vice President Osinbajo and his host, Governor Okowa boarded a Nigerian Airfoce helicopter enroute Oporoza, the headquarters of Gbaramatu kingdom.

THISDAY was at Oporoza ahead of the Vice President's arrival and observed a carnival like arrangement put in place by the people of Gbaramatu kingdom.

Gaily dressed men and women, young and old as well as various youth groups had gathered at the community's stadium pavillion entertaining themselves as well as visitors.

At four different points in the community, hired caterers were seen cooking as if a party was about to take place. It however became obvious that the food was not meant for any party but for those that gathered for the reception of the Vice President. Security agents, journalists and other visitors and indigenes that arrived early and were hungry because of the late arrival of the Vice President were served freely. It was a sumptuous meal as people ate to their satisfaction. That was typical of Gbaramatu people whenever they have a big occasion.

By 12.14p.m, the Nigerian Navy 231

Delta State Governor, Senator Ifeanyi Okowa (left) receiving Vice President Yemi Osinbajo, during his one day working visit to Delta State, at Osubi Airport… recently

helicopter hovered in and landed directly in front of the palatial palace of Gbaramatu kingdom, His Royal Majesty, Oboro Gbaraun II, Aketekpe, Agadagba. There was wild jubilation. Indigenes thronged towards the "small bird" to have a glimpse of the Vice President and his entourage but were prevented by vigilante security men placed in strategic places in the area.

Some monarchs and the Secretary of Gbaramatu kingdom, Chief Godspower Gbenekama were however on ground to receive him, Governor Okowa and the Minister of State for Petroleum, Dr. Ibe Kachikwu. They led the team into the palace of Gbaramatu where the Pere was waiting to receive them.

After the formal traditional reception, the Vice President, Governor Okowa, Kachikwu went behind closed doors to have a meeting

Coming at a time of national economic recession and when the Niger Delta, especially Gbaramatu, has become more endangered and feeling estranged from the Nigerian nation, we believe this visit will truly build confidence in the people of Gbaramatu and Niger Delta on Federal Government’s commitment beyond hitherto frustrating rhetorics, not just in developing but according dignity and pride of place to the oil-rich region

with the Pere where it was said far reaching agreements were reached.

Thirty minutes after, the Vice President came out and strolled to the pavilion where the waiting crowd was already being entertained.

There was thunderous shouts and hailing of the Vice President who in return waved at the appreciating crowd.

After a brief prayer, the Secretary of Gbaramatu and spokesman of the kingdom, Chief Godspower Gbenekama read out an address on behalf of His Royal Majesty, Oboro Gbaraun II, Aketekpe, Agadagba where he reeled out a lot of demands and their experiences in the hands of security agents.

Presenting the kingdom’s position, he told Osinbajo that they expected his visit to represent a game-changer capable of building genuine confidence in the people and Niger Delta at large.

“Coming at a time of national economic recession and when the Niger Delta, especially Gbaramatu, has become more endangered and feeling estranged from the Nigerian nation, we believe this visit will truly build confidence in the people of Gbaramatu and Niger Delta on Federal Government’s commitment beyond hitherto frustrating rhetorics, not just in developing but according dignity and pride of place to the oil-rich region.

“Gbaramatu Kingdom is tall and rich in national oil infrastructure that enriches the nation but lamentably lacking in infrastructure that benefits the people. Against the foregoing pitiable background, we herein raise issues of immediate concern, hoping the Federal Government will leverage on same to reconcile Gbaramatu, the Ijaw nation and Niger Delta to the Nigerian nation.”

Among pertinent issues, Gbenekama noted “Gbaramatu’s entire landscape wallows in utter government neglect. It was against this backdrop that the immediate past administration established the Maritime University at Okerenkoko, the only Federal Government initiative that rekindled hope of meaningfully engaging restive youths and prospect of endearing the people to the Nigerian project.

“Sadly, no sooner than the President Muhammadu Buhari administration was inaugurated than academic activities slated for commencement September 2015 were suspended over varied interests just as construction works at the permanent site were halted due to discontinued funding.

“A visit to Kurutie, the take-off site would reveal a campus that can compete

in infrastructure with similar institutions in the world. It is our appeal that you use your good offices to remove all restraints and ensure commencement, soonest, of academic activities in the university to the benefit of all Nigerians,” he said.

On the militarisation of the area, Chief Gbenekama told Osinbajo: “Under the guise of searching for oil facility vandals, oil thieves and other criminals, the Nigerian military has become an army of occupation, committing serial invasions on Gbaramatu Kingdom. The consequences have been loss of several lives and properties and huge humanitarian crisis.

“Continued military occupation, invasions and unwarranted harassments give a lie to Federal Government’s commitment to the dialogue option. The entire Niger Delta region has embraced dialogue as symbolised by mandates for dialogue given to the Pan Niger Delta Forum (PANDEF) which could pan out a way where the people would be involved in protecting the oil resources that also benefit them.

“Gbaramatu is not at war with the Federal Government. It is, therefore, our appeal and hope that your visit today will pave way for demilitarisation of the area for genuine and result-oriented dialogue. Dialogue under military occupation and harassments is dialogue in chains.”

The people further called for actualisation of the EPZ project, fiscal federalism as enduring solution to national agitation, adding that “We feel the entire Niger Delta shares our commitment to dialogue. The Federal Government should deepen its engagement processes in the Niger Delta and usher in enduring peace and reconciliation of Gbaramatu Kingdom and the Niger Delta to the Nigerian nation.”

He said there was so much expectation that the visit of the Vice President would be a game-changer in the region and expressed the profound appreciation of Gbaramatu people for the visit "which we believe should represent a game-changer, coming at a time of national economic recession and when the Niger Delta, especially Gbaramatu kingdom, has become more endangered and feeling estranged from the Nigerian nation."

The Minister of State for Petroleum, Kachikwu, was philosophical in addressing the crowd extolling the God-given ecological environment bestowed on the people of the area and urged them to look beyond oil and start thinking towards promoting tourism as a revenue generating source for the area.

Kachikwu promised the people that the

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• T H I S D AY WEDNESDAY, JANUARY 25, 2017

FEATURES Federal Government will now focus on development of the area in line with the tourism benefits.

The Chief Edwin Clark-led Pan Niger Delta Forum (PANDEF) in its submission said the visit to Oporoza showed the Federal Government’s readiness to interact and develop the long-neglected people of the Niger Delta region.

Former Police Affairs Minister, Alaowei Broderick Bozimo, who was mandated by PANDEF to speak on its behalf, urged the Federal Government “to expeditiously name the Government Negotiating Team to engage PANDEF’s representatives to kick-start the dialogue process for the resolution of the lingering Niger Delta question.”

President of Ijaw Youth Congress (IYC), Comrade Udengs Eradiri, who was at the fore-front of lambasting Buhari's regime for its lackadaisical attitude towards the development of the region also expressed happiness for the Vice President's visit and urged him to prevail on the President to do the needful in ensuring equity and justice concerning the affairs of the Niger Delta.

Aside the issue of Maritime University and others raised by others, Eradiri particularly demanded for the extension of awards of oil blocks to indigenes of the region to the admiration of the crowd.

Eradiri tasked government to come up with a developmental blueprint for the region so that the issue of restiveness across the region can be laid to rest adding “Obasanjo’s regime came up with coastal state development commission otherwise known as NDDC and the region allowed oil to flow for him to run his government. Yar’Adua came with amnesty and the region allowed oil to flow for him to run his government.

Goodluck Jonathan consolidated on this and the region allowed oil to flow for him during his tenure. President Buhari should tell us what developmental blueprint he has for the region so we can allow oil flow for him to run his government,” he declared.

He also pointed out the lopsidedness in the award of oil licenses recently, stating that it was the height of injustice that out of about 40 oil licenses issued out, no Niger Delta indigene was considered.

Okowa in his speech implored the people of Gbaramatu to allow the visit of the Vice President to achieve its desired result of bringing about sustainable peace in the region.

“Stakeholders must come together to let peace reign so that the desired development we are looking for can come to the region,” he said.

Okowa assured Osinbajo that the state government was ready to partner the Federal Government and the people of the area to bring about lasting peace.

He noted that the Vice President’s visit would go a long way to ensure enduring peace in the region. Responding to all the speeches, Vice President Osinbajo rose to the occasion saying it is only a fool that will say there are no issues in the Niger Delta.

With that statement, the crowd rose and gave him a thunderous applause amidst hailings. Osinbajo continued that the issue of Maritime University is a done deal reminding them that the bill establishing it was at the state of second reading in the National Assembly promising that once it is passed, nothing will stop its take-off.

He openly acknowledged that the Niger Delta zone has been neglected and promised that the Federal Government will establish a roadmap for the development of the oil-rich region.

“We are here as messengers of President Buhari. I have come with a message for the people of Gbaramatu Kingdom and the people of the Niger Delta as whole. It is a short message and I quote ‘we must prepare for the future.’

“The Niger Delta that you see today, including this kingdom we are now, is an area with poor infrastructure. No schools, no hospital but only severe pollution. The Niger Delta of today is that of daily pipeline vandalism. In 2014 alone, there were over 3,700 incidents of pipeline vandalism. From January to June 2016, there were over 1,447 incidents of vandalism.

“The Niger Delta of today aside from environmental degradation, between 1998 and 2016, over 20,000 persons have died from fire incidents arising from breaches

A cross section of prominent Ijaw citizens at the stadium waiting for the Vice President's arrival

L-R: Deputy Governor of Delta State, Dr. Kingsley Otuaro, Senator James Manager, during Okowa (right) and Minister of State Petroleum, Ibe Kachukwu, during the reception for the Vice President at Peres Palace, Oporoza Vice President Yemi Osinbajo’s one day working visit to Delta State

of pipelines…

“Many of the initiatives to change the story have not been able to make those changes.

From the Niger Delta Development Board in the 1960s to OMPADEC to the NDDC and the amnesty programme, many of these projects have not been able to meet the objectives they were set up to achieve.

My message to you today is, it is time to prepare for the future.

“It is not the future of degradation, poor infrastructure and it is not the future of no roads. It is not the future of harassment and locking up. Our future is the future of progress and development. Unfortunately, there is no time because the future is already here. Fellow citizens, to ensure that the future is not worst than today and to prepare for a great and promising future for the Gbaramatu Kingdom and the Niger Delta as a whole, three things must happen.

“First, we must recognise the unique environment and terrain challenges of the Niger Delta. We must also recognise that the Niger Delta is a special place and a special economic zone, and then we must treat it as a special development zone.

“And I agree in entirety that this zone ought to be treated as a special development zone. What does this mean in practical terms? It means that the Federal Government, state governments, National Assembly representatives from this region alongside the NDDC and the civil society representatives of the Niger Delta people must sit together and develop a plan for rapid development. There is no excuse for not planning together.

The event was attended by Senator James Manager; Brig. Gen. Paul Boron; the Delta State Deputy Governor, Kingsley Otuaro; the first military administrator of Old Rivers and the Amanyanabo of Twon-Brass, King Alfred Diete-Spiff; one-time Minister of Police Affairs, Alaowei Bozimo and a member of the House of Representatives, Hon. Julius Pondi.

Others include Chief Anabs Sara-Igbe, a former Acting Managing Director of the Niger Delta Development Commission, Pastor Power Aginighan; the National Centre for Environmental Protection and Justice (CEPEJ) Comrade Sheriff Mulade;

representative of the Movement for the Emancipation of the Niger Delta, Jenkins Okponipre and prominent Ijaw chiefs and clerics.

The Vice President spent much time with the People of Gbaramatu kingdom but still found time to visit the controversial Maritime University at Kurutie, about three miles from Oporoza to inspect the facilities already in place.

At the end of the inspection, Vice President Osinbajo said he was impressed with what he saw on ground.

From Kurutie, the Vice President left aboard the Navy helicopter for the palace of Olu of Warri Kingdom, HRM Ogiame Ikenwoli I during the visit. He was accompanied by Delta State governor, Okowa, Minister for Petroleum (State), Kachikwu and other top government functionaries where he also had an interaction with the monarch and his chiefs before leaving for the Petroleum Training Institute (PTI) Conference Centre where a multitude of crowd from other ethnic groups were waiting for him and his entourage.

A mild drama however played out as some prominent citizens and monarch wanted to stage a walkout apparently in protest against being kept at the venue since 10 a.m as slated in the programme. As at 5 p.m, the Vice President was held up at Olu's palace which angered the attendees.

On arrival at about 5.45 p.m, Governor Okowa, who had earlier been contacted apologised profusely explaining that the visit was tight and that the organisers couldn't keep to time as scheduled.

The visiting Vice President also joined the governor in placating the angry monarchs, elder statesmen and youth groups mainly from Urhobo, Ndokwa, Ika that were waiting endlessly to also present their grievances.

Addressing the crowd, Osinbajo said it was unfortunate that despite the huge contribution of the Niger Delta to the development of the country, there was little to show for such.

“No Nigerian can be proud with the state of development in the Niger Delta; we are all beneficiaries from resources from the region but, we cannot have instability and be able to carry out speedy development

of the region,” he said.

Osinbajo reiterated that Buhari was committed to the development of the region, saying, “the issues at stake are very clear, this is not time for negotiation, it is time to act and we know the issues, we must all prepare for a future that will not be dependent in oil resources.

“The Lagos-Calabar railway project is in the 2017 budget and when completed, it will benefit all the people of the Niger Delta, the Maritime University will come on stream, I can assure you that it is a done deal, we must do it; ports are revenue generating, so plans are on to develop them but, the issue is how do we fund the projects?” the Vice President continued, reiterating, “the President is an honest man and my coming here for this programme is clear evidence that the Niger Delta is being carried along.”

But the meeting ran into stormy session again after the President of Urhobo Progress Union (UPU) Olorogun Moses Taiga presented his address and submitted his document to the Vice President. The forum took another presenter from Ndokwa nation when attempt by the organisers to abridged the session to enable the Vice President Osinbajo return to Abuja because it was getting late.

Most of the ethnic groups were asked to forward their documents to the high table for onward passage to the Vice President, devoid of any oral presentation but they resisted. Before you say Jack Robinson, the protesting ethnic groups, mostly youths had thronged the frontage of the high table. It took the wisdom of Governor Okowa and security agents to calm frayed nerves and put the situation under control before the Vice President was allowed to leave at about 6.45 p.m.

The visit by the Vice President no doubt was a means of restoring confidence in the Niger Delta. It has become crucial in view of the fact that the region needs to be given assurance of the government’s understanding of its plight and the urgent need to alleviate it. Such an assurance is what is needed to stabilise the region for the production of crude oil on which the economy depends.

However, it was expected that much more impact would have been made if the president were there himself.

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IMAGES

T H I S D AY • WEDNESDAY, JANUARY 25, 2017

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

L-R; Divisional Head Large Scale Industry, Mr Joseph Babatunde; Executive Director, Corporate and Commercial Services, Mr. Jonathan Tobi; Pioneer Managing Director, Bank of Industry, Mr. Larry Osa-Afiana; former Director General,UNIDO\Special Representative of United Nation Secretary General on Sustainable Energy, Dr Kandeh Yumkella and Acting Managing Director, Bank of Industry, Mr. Waheed Olagunju during the lunching of BOI Solar Energy Product at Renaissance Hotel Ikeja...recently

L-R; President, Dangote Group of Company, Alhaji Aliko Dangote; overall winner of Dangote Cement Best National Distributor Award/Managing Director, D.C Okika Nigeria Ltd. Mrs. Beatrice Okika; and Group Managing Director, Dangote Cement, Mr. Onne Vender Weijde at the Dangote Cement Award/Gala Night, in Lagos,.recently SUNDAY ADIGUN

L-R; Majority leader, Oyo State House of Assembly, Hon. Kehinde Subair; Deputy Speaker, Oyo State House of Assembly, Hon Musah Abdulwasih,;Chief of Staff to Oyo State Governor, Dr. ëGbade Ojo, Commissioner for Local Governmt and Chieftaincy Matters, Mr. Abimbola Kolade , during a visit to Local Council Development Areas (LCDAs) in lbadan...recently

L-R: Assistant General Manager, Nigerian Civil Aviation Authority (NCAA), Mr. Joe Jimoh Mohammed; General Manager, Mr. Sam Adurogboye and Public Relations Officer, Bukola Akinpelu, during the Media chat, at Nuate, Beecham, Ikeja, Lagos..recently KOLAWOLE ALLI

L-R; Nusician, Sunny Nneji; Producer, Zeb Ejiro; Ayo Stuffman, Managing Director, VAS2Nets; Tade Ogidan, Movie Producer and Sani Danja, Musician at Launch of new entertainment platform, Lodios.com in Lagos... recently

L-R: Member House of Assembly Alimosho Constituency 01,Hon. Bisi Yusuf; Matthew Chinedu, Awoyade Daniel(1st positions Honeyland College Ipaja) and President, Felicia Oshuntuyi Mathematics For Life Foundation (FOMFLF),Omoniyi Osuntuyi at tte award presentation to winners of Alimosho Mathematics Olympiad in Lagos...recently

Officials of the Abuja Environmental Protection Board (AEPB), clearing refuse from the median strip of the major road traversing Nyanya, Karu and Jikwoyi suburbs of AbujaÖrecently

L R ;Dr.Saka Bologun; Dr.Doyin Okupe and Chairman of Occasion,former Governor of Osun State,Chief.Bisi Akande at the National Colloquium of Yoruba Patriots Movement in Ibadan...recently FELIX ADEMOLA

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T H I S D AY • WEDNESDAY, JANUARY 25, 2017

BUSINESSWORLD R A t E S NIBOR OVERNIGHT 1-MONTH

A S

A t

J A N U A R Y

NIBOR 3-MONTH

11.7083% 17.6546%

6-MONTH

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NITTY 1-MONTH 2-MONTH

Group Business Editor Chika Amanze-Nwachuku

Email chika.amanzenwachukwu@thisdaylive.com 08033294157

1 9 ,

16.5577% 14.0684%

3-MONTH 6-MONTH

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EXCHANGE RATE N305.50//1US DOLLAR* *AS At LASt FRIDAY

Quick Takes UN Empowers Nigerian Women, Others

Managing Director of Outstanding Resource Services, Lydia Olanike Oladapo, has been nominated as one of the 170 persons across the globe as United Nation’s Women’s “Empower Women Champions for Change”.vAccording to a statement, Oladapo and 22 other Nigerians, out of 170 persons, were chosen from over 4,000 applicants from all over the world representing a diverse group of dynamic and enthusiastic women and men from the private sector, civil society, academia and national and international organisations from both developing and developed countries championing the social-economic empowerment for women across the globe .

Over the next four months, the ‘champions’ will work in three groups: Advocacy and social media; business development; and skills development. v“They will serve as Empower Women advocates for women’s economic empowerment both online and in their local communities,” it added.vOladapo is an alumnus of the Pan African University/Enterprise Development Centre World Bank Funded WomenX Certificate in Entrepreneurial Management programme “Nike’s nomination as a ‘Global Champion for Change’ by the UN Women’s Empower Women is a testament to the laudable groundbreakingstridessheismakingintheeconomiccapabilitydevelopment of Africa women through her signature program called AWINBCD.

Equatorial Guinea Offers to Join OPEC

YOU ARE INVITED SIR

L-R: The Registrar/CEO, Chartered Institute of Bankers of Nigeria (CIBN), Mr. Seye Awojobi; President/Chairman of Council, CIBN, Prof.

Segun Ajibola; HRM, the Oni of Ife, Oba Adeyeye Enitan Ogunwusi; and immediate president, CIBN, Mrs. Debola Osibogun, during the institute’s visit to the traditional ruler in Ile-Ife...recently

Rising Inflation Worsens Nigeria’s Misery Index Obinna Chima The sustained increase in the consumer price index (CPI), which is used to gauge inflation in the country has worsened misery index in Nigeria, a report by the Financial Derivatives Company Limited has stated.

Using the third quarter 2016 unemployment and underemployment rate of 13.9 per cent and 19.7 per cent (the most recent published figures), and December’s inflation of 18.55 per cent, Nigeria’s misery index is 52.15.

Due to nationwide job cuts (in the banking and oil sector especially) unemployment is estimated to have risen to 14.5

ECONOMY per cent in the fourth quarter of 2016. This is expected to bring the misery index of the fourth quarter, 2016, to a record high of 53.35. This would be 21.05 points higher than the fourth quarter 2014 figures.

Misery index is a measure of economic well-being for a specified economy, computed by taking the sum of the unemployment rate and the inflation rate for a given period. An increasing index means a worsening economic climate for the economy, and vice versa.

To this end, the research and investment company in its latest

bi-monthly economic report for January 2017, pointed out that Nigeria’s misery index had risen for the last six quarters, stating that if the movement persists, consumers would be hit hard. In addition, it noted that consumer may be faced with deeper dwindling purchasing power, as their incomes would only be able to buy less of their usual consumption basket. Similarly, the poor will become poorer in real terms, and the middle class will thin out.

These factors are important because they pose economic and social costs to the average income earner. An increase in the misery index is triggered by an increase in either variable, and signifies economic discomfort

and negative consumer sentiment.

“Additionally, climbing misery index implies declining economic activity and reduced consumption. This is because unemployed people are underutilised and rising prices will discourage rational consumers from spending. This can cause or complicate an economic slowdown or contraction. There will also be increased debt, as the federal government borrows money to increase social support schemes. In the end, the citizens will be left with high uncertainty and low morale.

“Furthermore, it is believed that consecutive rises in the Continued on page 22

Stockbrokers: Why Govt Must Privatise Assets through Capital Market Goddy Egene Stockbrokers have insisted that the federal government must privatise any of its assets through the nation’s capital market for the benefits of all stakeholders.

Given the current economic recession, it has been said that the federal government needs to sell some of its assets that are not efficiently run and are constituting drain on its finances.

Although the government is yet to decide which of the assets to privatise, it is one of the options

CAPITAL MARKET economic and financial experts have proffered as a way out of the economic recession.

While the government is considering which assets to privatise, stockbrokers under the aegis of Association of Stockbroking Houses of Nigeria (ASHON), have said the most efficient way to sell such assets will be through the capital market.

Speaking to THISDAY in Lagos, the Chairman of ASHON, Mr.O.P. Ezeagu said the capital

market is the most transparent and efficient channel through which government can sell its assets with all stakeholders benefiting.

According to him, the privatisation of assets brings discipline to the system which ensures accountability, transparency and efficiency.

“The government should sell any assets through the most efficient and transparent channel which is the capital market. In that manner there is greater discipline brought into the system and environment. That

discipline ensures transparent, accountability and efficiency. If government does that it means the people who own the assets will be better for it because they will have hit best of prices.

Also, the fact there is a level of discipline that the capital market brings, because as we say as brokers, our word is our bond, the buyers will stick to their promises and deliver on all of them,” he said.

He explained that the selling documents of those assets would Continued on page 22

Ministry of Mines and Hydrocarbons of Equatorial Guinea has announced that it has submitted its interest to join the Organisation of Petroleum Exporting Countries (OPEC) in 2017.

The country’s Minister of Mines and Hydrocarbons, Gabriel Mbaga Obiang, had travelled to Vienna on January 20 to meet with OPEC officials and present the government of Equatorial Guinea’s offer to become the 14th member of the cartel.

With 32.5 million barrels per day of output projected this year, OPEC is the world’s largest organisation of oil producers. The minister’s trip to Vienna, according to a report, followed the fourth Africa-Arab Summit, which hosted last November several OPEC members in Malabo, under the patronage of President Obiang Nguema Mbasogo.

“For decades, Equatorial Guinea has achieved a sterling track record as a dependable supplier of petroleum to consumers in all corners of the world. We firmly believe that Equatorial Guinea’s interests are fully aligned with those of OPEC in serving the best interests of the industry, Africa and the global economy,” the minister said.

On December 10, 2016, Equatorial Guinea agreed to join 10 other non-OPEC countries to reduce 558,000 barrels per day of total oil production in 2017. Equatorial Guinea’s share of the cut is 12,000 barrels per day. Even through a two-year sustained slump in oil prices, Equatorial Guinea has maintained liquid output levels at a competitive level.

IFAD, Djibouti to Tackle Water Scarcity

The International Fund for Agricultural Development (IFAD) and the government of Djibouti on Monday signed a financial agreement to address the serious impact of water scarcity facing Djibouti’s rural people. The “problem of thirst” continues to have a serious impact on Djibouti’s rural people. Rural areas occupy most of the country’s territory and are home to 29 per cent of the population, 67 per cent of whom are nomadic herders. According to a statement, the IFAD Soil and Water Management Programme (PROGRES) would operate in the regions of Arta, Dikhil and Tadjourah and will cover a total of 13 rangelands benefiting about 66,000 people. “The project aims at contributing to sustainably improving living conditions and reducing poverty among rural communities and nomadic populations,” IFAD’s Country Programme Manager for Djibouti, Naoufel Telahigue said. “The beneficiaries will be all households having their base camps in localities within these rangelands and living under extremely precarious and climate-vulnerable conditions,” he added. The total cost of the project over a seven-year period is $17.05 million, including a $5.77 million IFAD loan and a $0.3 million grant.

“As far as I am concerned, the present economic challenge is actually the right time to invest in Nigeria; a time to lay a solid foundation and then grow with the economy in no distant time”

MD/CEO, AMCON

Mr. Ahmed Kuru

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T H I S D AY • WEDNESDAY, JANUARY 25, 2017

BUSINESSWORLD RISING INFLATION WORSENS NIGERIA’S MISERY INDEX misery index usually lead to a decline in the favourability ratings of the serving administration, and could result in a re-election loss for the incumbent. This was the case for U.S. President Ford and Jimmy carter, whose terms saw the misery index reach all-time highs. Likewise, Nigeria’s 2015 elections reflected this hypothesis,” the FDC report stated.Leading the pack of high misery indexes in Africa is South Sudan, whose inflation rate of 457.20 per cent in November 2016 had sent its misery index through the roof. Other countries with high misery index include Angola (67.92), Congo (57.3), Libya (46.9), Kenya (46.3).

STOCKBROKERS: WHY GOVT MUST PRIVATISE ASSETS THROUGH CAPITAL MARKET contain all the action points and the public will monitor and make sure that those milestones are achieved.

Ezeagu noted that if the power assets (discos) had been sold through the capital market, the challenges they are facing now would not have arisen, saying the companies would have been more efficiently run.

“What we have been doing in the past was that those in government take assets and projects and give to their cronies without attaching needed discipline and efficiency so that people can benefit,” noting that going forward, this strategy must change.

“In the spirit of change the current administration has to ensure that any asset to be sold is done through the capital market so the government will get a fair value, the buyers get access to funds to run the company and investors reap good returns on their investments,” the ASHON boss said.

The Chief Executive Officer of Nigerian Stock Exchange (NSE), Mr. Oscar Onyema had recently said the exchange would also continue its engagement efforts with the government to promote the listing of privatised state owned entities (SOEs).

Group Business Editor

Chika Amanze-Nwachuku AgriBusiness/Industry Editor

Crusoe Osagie

Comms/e-Business Editor

Emma Okonji

Capital Market Editor

Goddy Egene

Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

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

Nume Ekeghe (Money Market) Nosa Alekhuogie (Maritime)

NEWS

Analysts Project 10% Profit Growth for Stanbic IBTC Holdings Goddy Egene

2017-18E period, with both revenue lines contributing.

We expect loan loss provisions to moderate and offset rising operating expenditure(opex).

We forecast faster PAT growth (31 per cent in 2017E) due to favourable base effects (zero forecast for other comprehensive income vs –N4.4 billion as of 9M 2016). Our forecasts

imply Return on average equity(ROAE) improving from 14.4 per cent in 2015 to over 16 per cent in 2017E. Given the shares are trading above our price target, we retain our Underperform rating,” they said.

They explained that the 2015 results had been held back by a flattish revenue performance

as well as a surge in loan loss provisions to almost N15 billion from N3.2 billion in the prior year.

“Stannbic’s 9M 2016 PBT of N25.7 billion compares with N15.4 billion in the prior year or a 67 per cent increase. Both net interest income and noninterest income contributed to the growth – 19 per cent

and 28 per cent respectively.

Although loan loss provisions (+22 per cent) and opex (+10 per cent) grew also, the revenue growth was stronger, leading to the stellar PBT growth. The revenue growth follows a tepid 2015 during which net interest income fell -6 per cent and non-interest income was down -3 per cent,” FBN Quest said.

Analysts at FBN Quest have projected 10 per cent average growth in profit before tax (PBT) over the 2017 and 2018 financial years for Stanbic Holdings Plc. However, they said they expect a fast growth in profit after tax (PAT) of 31 per cent in 2017.

After delay due to dispute with the Financial Reporting Council of Nigeria (FRC), Stanbic IBTC last month released its 2015 full year and 2016 nine months results.

While it recorded a decline in 2015, the financial institution recorded a growth in its nine months to September 30, 2016.

Reviewing the performance of the company, FBN Quest said following the recent publication of Stanbic IBTC Holdings’ Q4 2015 – Q3 2016 results, they have updated their forecasts. According to them, the delay in the publication of the results made their previous forecasts redundant.

“The increase to our forecasts is significant. We have increased our 2016-17E PBT forecasts by an average of 61 per cent and our price target by 56 pper cent to N14.7 (having rolled over to 2017). The most significant positive is that Stanbic has drawn a line under the saga with the FRC). The bank’s underlying results improved markedly in 2016 (based on the nine months 2016 results)….

Looking forward, we forecast 10 per cent average growth L-R: Out-going President, Airport Council International (ACI) Africa, Pascal Komla; President, ACI-Africa, Mr. Saleh Dunoma and Secretary in PBT per annum over the General, ACI-Africa, Ali Tounsi, during the official handing over ceremony, in Maputo, Mozambique … recently

CHANGE OF BATON

FG Moves to Restructure BOI, BOA Crusoe Osagie The federal government has inaugurated the National Council on Privatisation (NCP) Steering Committee on the Restructuring and Recapitalisation of the Bank of Industry and the Project Delivery Team to revitalise the operations of the Bank of Agriculture.

Inaugurating the Steering Committee and Project Delivery Team on behalf of the Vice President, Minister of Agriculture and Rural Development, Chief Audu Ogbeh, who chairs the Committee, informed that the

approach is to make the Bank of Agriculture more responsive to its mandate of serving as a veritable platform for providing loans to MSMEs, rural farmers, cooperatives and agro-allied industries, among others.

The minister added that the approach was preferred by the Federal Government as a preprivatization strategy to pave way for injection of financial and other requisite resources.

“It is therefore the conviction of my Ministry that the approved restructuring and recapitalization are critical to the revitalisation of the bank’s

operations, as it will enable the bank serve as a strong catalyst for achieving Government objectives”, the Minister stated.

The minister also noted that the Federal Government has charged the Steering Committee, under his chairmanship, with the mandate to midwife the laudable initiative to be implemented within a record time.

The Steering Committee will be technically supported by the Project Delivery Team, which is made up of experienced personnel drawn from key stakeholder agencies of Government.

Members of the Steering Committee are Ministers of Finance, National Planning, and Industry, Trade and Investment, Governor of Central Bank, Permanent Secretary- Federal Ministry of Agriculture and Rural Development and Director-General- Bureau of Public Enterprise. Others are Chief Economic Adviser to the President, Special Adviser to the Vice President on Economics, General Manager- Finance and Accounts, Bank of Agriculture, Representative of the Federal Ministry of Justice and the Sector Director, Bureau of

Public Enterprise, who is the Committee’s Secretary.

Members of the Project Delivery Team, chaired by the Sector Director (DFIs), Bureau of Enterprise, are representatives of Federal Ministry of Agriculture and Rural Development, Federal Ministry of Finance, Office of the Vice President, Central Bank of Nigeria and Bank of Agriculture. Others are Project Manager (DFIs), Bureau of Public Enterprise and the Enterprises Officer, Bank of Agriculture who is the Team’s Secretary.

SON, MAN Partner to Drive SME Growth Crusoe Osagie Acknowledging that small and medium enterprises (SMEs) play a veritable role in economic growth and development of any nation, the Standards Organisation of Nigeria (SON) and Manufacturers Association of Nigeria (MAN) have partnered to capture SMEs at the bottom of the pyramid in Nigeria.

According to the Director General, SON, Mr. Aboloma Osita, the collaboration will identify areas where small busi-

ness owners who do not have the capacity to cope under the harsh economic environment, get waivers and concessions to support their businesses in order to create job opportunities and wealth for the country.

The Director General during a courtesy visit by MAN members, explained that both organisations although have an existing Memorandum of Understanding (MoU), the document does not meet the present day reality.

In his words, “This collaboration will afford both

organisations to rub minds and know how we can rearrange the terms of our existing MoU to meet our present day reality.

We will need to review some of our rates to accommodate more SMEs at the bottom of the pyramid. We will look at areas where we can help these SMEs who cannot survive the present day realities with waivers and concession. We are going to be focused on mainly SMEs and other sectors you come up with. We will also key into the government’s agenda which is ease of doing

business thereby making life easy for people doing business in this recession.”

The SON boss said the country is going through a difficult time and would require lots of sacrifice and thinking outside of the box to get the nation out of the economic downturn, saying that partnerships such as this is the bedrock of Nigeria’s industrial revolution.

“MAN is no doubt the most coordinated and organised partnership we have in Nigeria. It is the bedrock of

Nigeria’s industrial revolution. Our duty as an agency is in two folds, which is to encourage members of MAN by protecting your investment while also giving guidance to quality assurance and also safeguarding you from unfair competition from influx of substandard goods,” he said.

He said SON will establish a technical committee that will comprise both SON and MAN staff to come up with a more practical MoU expected to make life better for both parties and the economy at large.

T H I S D AY • WEDNESDAY, JANUARY 25, 2017

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BUSINESSWORLD

NEWS

ELEVATING TO THE NEXT LEVEL

NAICOM to Undertake Verification of Capital Resources, Assets of Insurance Institutions Stories by Ebere Nwoji The National Insurance Commission (NAICOM) has said it will undertake a verification of the Capital resources of all insurance companies in the country in the first quarter of 2017.

The commission, disclosed this in a circular titled “Statement of NAICOM’s Regulatory Priorities for the year 2017” sent to chief executive officers and boards of insurance institutions.

NAICOM, in the statement, highlighted issues and requirements that will occupy its time in the current business year as re-launch of the Market Development and Restructuring Initiative (MDRI) with special and intensified implementation efforts on enforcement of Compulsory Insurance; diversification of distribution channels; increase in access points for insurance

services, micro insurance, Takaful insurance; improvement in data collection as well as promotion of financial literacy.

The commission, said taking the above actions will enable it ensure protection of policyholders and beneficiaries of insurance contracts against unexpected losses of Insurance Companies.

The commission, however, said the cost of the above exercise will be borne by the companies adding that it will communicate the modalities to the insurers in due course.

The commission said this has become necessary because since the last recapitalisation exercise in 2007, the business environments and the risk profile of all insurance institutions have changed.

“It will entail a verification of the Assets and Liabilities of all insurance companies. In preparation for this, boards are advised

to ensure fairness in valuation of assets and liabilities of their companies when presenting the financial statements for the year ending 31 December, 2016. All Professionals that participate in the financial reporting supply chain are expected to ensure their duties in the valuation of assets and liabilities and issuance of opinion on financial reports are discharged creditably in accordance with relevant laws and professional standards,” said NAICOM. Furthermore, the commission noted that the level of expenses of some insurance institutions is becoming a cause for concern. It said in this regard, it will pay more detailed attention to reasonableness of management expenses to ensure that each company’s level of expense is appropriate for its business model and does not adversely affect its profitability, liquidity and capital adequacy.

Mutual Benefit Assurance Plans to Invest Heavily in Technology Mutual Benefit Assurance plc, said it plans to invest heavily in technological development in order to build innovative customer- Centric products that will meet the needs of its existing and potential customers and increase its market share in the current business year.

The Company said this forms part of its strategic five-year plans aimed at making the company number one insurance company in Nigeria by 2021.

Speaking at its 21st annual thanksgiving service held in Lagos, the Chairman of the company, Akin Ogunbiyi said the company has engaged the service of KPMG to chart a new focus for the company.

He said the company’s strategic aspiration was anchored on four goals namely: Be the fastest growing insurance company through innovation; be number one in customer service

delivery; lead the industry in efficiency; and lead the industry into profitability.

He however acknowledged that it is going to be tough no doubt but assured that with the trust in the knowledge, professionalism and dedication of its stakeholders and staff they will be able to realise their vision of taking the company to the top of the industry in a recessed economy. He added: “This year must witness a remarkable shift in the way we do things. Our words and actions must be influenced by our strategic aspirations.”

He called on member staff to take ownership of his or her value adding role.

“There must be transparency, open enhanced teamwork, trust, effective communication and dialogue, well intentioned and conscientious execution of roles and sharper clarity.

“Let us genuinely focus and be sincerely accountable in our individual but committed contribution to the results that will engender growth and profitability. You must ask yourself ” Am i sincerely moving Mutual Benefits forward in my everyday task?”.

In 2016, the company upgraded its customer care unit with its technology driven Mutual Care to serve its customers better, adding that a team of dedicated professionals are on hand to provide seamless service to its esteemed clients.

On claims payment, as at end of 30th November 2016 paid claims in excess of N1.5billion in non life business, about N1 billion for life (death claims), in addition to about N10.6 billion paid out as maturities/ surrender under its investment/ deposit administration portfolio by its life company.

ARFESPON Demands Payment of Outstanding Pension Arrears The federal government has been called upon to restructure the current leadership of the Pension Transition Arrangement Directorate( PTAD), to avoid the collapse of the current formidable pension system it has built for Nigerian workers.

A group of pensioners under the aegis of Association of Retired Senior Public Officers of Nigeria (ARFESPON), who made this call in Lagos, alleged incompetences and on the part of the present leadership of PTAD led by Sharon Ikeazor.

ARFESPON in a recent interview with THISDAY in Lagos said the present leadership of PTAD “is like a square peg in a round hole” arguing that Ikeazor is not a professional and knows little about pension.

President, Lagos Chapter of ARFESPON, Olufemi Odewabi,

said the government should understand that positions in a sensitive office like that PTAD, should not be filled by political appointment, but purely on merit and experience. He said pensioners prefer professional accountant, well conversant with fund management to man the office than the present situation whereby it is manned by a lawyer. He said the way and manner PTAD leadership handles pensioners’ affair, shows that she is in -experienced.

According to him, the present leadership of PTAD is destroying the agency due to lack of professionalism and experience, pointing out that the head of PTAD leadership team has neither been a civil servant nor a professional accountant, therefore does not have indept knowledge of pension matters.

He said because of her lack of experience, the way and manner she handles pension issues is capable of destroying all that government has already put in place to address pension problems in the country.

ARFESPON, also urged government to pay up the outstanding 18 months arrears of the 20 percent increase promised to pensioners in 2010 and to consider its members’ interest in the proposed increase in workers’ salary in the face of the recession in the economy.

Odewabi quoted section 173, sub section 4 of the Nigerian constitution which states “pension shall be reviewed every five years or together with any federal civil service salary reviews whichever is earlier”, and urged government to take cognisance of that in dealing with pensioners.

Marie-Therese Phido

The Sands of Relationships I have always known that building relationships and maintaining these relationships is very crucial. I call it the life blood of a business. Products and services count for nothing if you do not have the right quality of win-win relationships.

Kaleel Jamison said: “Relationships of all kinds are like sand held in your hand.

Held loosely, with an open hand, the sand remains where it is. The minute you close your hand and squeeze tightly to hold on, the sand trickles through your fingers. You may hold on to some of it, but most of it will be spilled.” A relationship is like sand; it must be nurtured and respected for it to survive.

Last Friday, during a business coaching session with one of my clients, we got into the relationship building conversation. I asked: “How is it going?” He said, “I really have to thank you. You cannot believe how my business is turning around now that I am spending more time building relationships with my clients. I make sure that I touch base with both clients and targets every week. There is a particular job, I am about to sign off on, and this job was given to me on a sole source basis and it did not go to tender. There are additional jobs we are talking about and he is picking my brain on how to frame the tender, I have a feeling that I may also get these jobs.”

This is where relationship building gets you to! You become the trusted advisor.

Your client will not make important business decisions without consulting you first. I tell my clients that by the time a tender is announced, 80 percent of the time, the organisation knows who they want to give the job to. Going to tender is sometimes just fulfilling all righteousness.

As an entrepreneur, and even while working in business development when in paid employment, my networks and relationships built over many years helped me make a difference and succeed. Just like the saying that “it is harder to get a new customer”, so it is with building new relationships to the depth you need them to be to make a difference for your success.

As business owners, employees and entrepreneurs, we need to be good at establishing great relationships with our employees, business associates, suppliers, customers, and everyone else that contributes directly or indirectly to the continued survival of our business.

One key attribute that we must cultivate that makes a ton of difference is TRUST. Every relationship is built on trust. Your clients and business contacts must be comfortable and assured of your confidence.

Otherwise, you will not be consulted on sensitive business issues. You also need to give your clients the assurance that your relationship is mutually beneficial, i.e. winwin. Also, very critical is the ability to exude genuineness and authenticity.

We all want to relate to people who have our best interest at heart and who really want to help us move our business to the next level, not because of an ulterior motive, but because they care and want to see us succeed. People gravitate to those with these attributes, which cannot easily be faked. Fakeness cannot be sustained and held up for a long time, it always unravels.

Under listed are pointers we can practice to transit our relationships into trusted client relationships:

•

Take your time in building new relationships – building relationships takes time. Take the time to build a connection.

Share information about yourself and get to know your client. One test question I always ask and currently asking myself

as an entrepreneur is “do you know their birthdays?” Do you have personal information about them – children, hobbies, etc”? For as long as we remain on the formal lane, we will not have the kind of relationship that will have strong benefits for our businesses. However, know that no matter how well you know them, it will never substitute for good work because shoddy work will destroy the relationship. In everything push for excellence.

• Keep up with innovation in their industry and organisation – I just finished an account building session with one of my clients. In the process, we had to understand the value chains within their target industries and conducted historical analyses of the organisations they were considering. My key message was that you do not have to be an expert in their industry or organisation, but you need to know enough to build credibility and must understand what keeps them awake in the night and position your offerings and interactions accordingly.

• Give discretionary service – Your clients will remember the times you went the extra mile for them. Most will remember your selfless services in ensuring they succeed.

• Make your clients feel like kings and queens – a pleased client is more likely to make referrals. Treat all customers equally, treatment should not be differentiated. Try not to make any customer feel less important.

You never know who your clients know and who they can refer you to. Remember too, that contacts can switch jobs and move to bigger organisations and more prestigious positions.

• Be relevant and reliable – respond as quickly as you can to your clients. Respond even if you do not immediately have the answer.

Your interest in their success will give them comfort and will give them the assurance that their problems are being solved. Resolving the issue, will further deepen trust, reliability and solidify the relationship.

Most importantly transiting your relationship to a trusted one brings joy and fulfilment to both parties, building trusted relationships helps build more relationships and ensures the sustainability of our business.

Holler!

Today, we are giving a Holler! to Soupamarket.

Soupamarket has Elevated soup making To The Next Level. The organisation is very good at using social media to showcase its products and build customers and followership on their preferred medium – Instagram, where I discovered them.

Her soups jumped at me from my phone screen. They were so real and looked delicious; I could almost taste them, just by looking at their products. Every day, she bombarded me with various delicacies from different parts of Nigeria. I was forced to patronise them and was not disappointed.

Their customer service was good. The soup I ordered came on time as agreed and came hot. Initially, I had thought the pricing was expensive, but on delivery, I was satisfied with what I got. The branding and packaging were also well done.

Let’s give Soupamarket a Holler! for Elevating Nigerian soup making To The Next Level.

- Marie-Therese Phido is Sales & Market Strategist and Business Coach Email: mphido@elevato.com.ng tweeter handle @osat2012 TeL: 08090158156 (text only)

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T H I S D AY • WEDNESDAY, JANUARY 25, 2017

BUSINESSWORLD

ANALYSIS

Strengthening Capital Market Regulation Goddy Egene writes that the frameworks for risk based supervision and systematically important financial institutions introduced by the Securities and Exchange Commission will bolster operations in the nation’s capital market Insurer Globally Systemic Financial Institutions (NBNIs) financial entity can be transmitted to other financial firms/markets and as such present a potential risk to the stability of the financial system. These channels are: The first is the exposures/counterparty channel, which is the impact that a systemic institution’s failure may have on its creditors, counterparties, investors, or other market participants, which may result in a broader financial crisis if their linkages and exposures are significant.

Another channel is asset liquidation/market, which is the impact a systemic institution’s failure may have on asset prices, if it is forced to liquidate assets quickly, thereby distorting trading and provoking losses for other market participants with similar holdings. The risk associated with this channel is amplified with an entity’s use of leverage.

Also there is the critical service channel. This is the impact that a systemic entity’s failure may have on the market, if it provides a critical function or service that market participants rely upon for which there are no available substitutes.

The Nigerian capital market has continued to suffer the negative impact of the global financial crisis of 2009. Since that crisis, the market is yet to recover and enjoy high patronage as many investors remained dazed by the losses they suffered. In fact most investors have vowed not to return to the market. However, regulators and some stakeholders have been making efforts to regain the confidence of investors.

As part of those efforts, the Securities and Exchange Commission (SEC), which is the apex regulator of the capital market, has moved to strengthen the regulation of capital market operators (CMOs). This it has done with the introduction of risk based supervision (RBS) framework and the framework to identify systemic non-bank financial institutions (NBFI) last week.

Risk based supervision framework The RBS framework, which has already been approved by the Minister of Finance, Mrs. Kemi Adeosun has come in a very good time and that is the focus of most regulators globally.

The overall objective of the RBS is to ensure the safety and soundness of Capital Market Operators (CMOs) by adopting a proactive risk based supervisory process that centres on risk profiling of a CMO and implementing appropriate supervisory methods that are commensurate with risks identified in the business operations of a CMO. This serves to ensure that regulatory resources are optimally allocated according to the risk profile of a CMO. Before now, the regulatory environment in the Nigerian financial market has traditionally been focused on a supervisory process that is compliance based or ‘Rules Based’ supervisory regime.

This regulatory approach tends to excessively focus on monitoring and ensuring compliance with laid down Rules and Regulations.

But in recognition of the obvious limitations of a rules based supervisory regime, a global trend towards a risk based supervisory model that focuses on identifying, monitoring and mitigating risk, signifies a major paradigm shift in the approach to regulating financial markets.

Adopting RBS not only ensures that regulated entities are well positioned to accommodate the risks that they bear, but more importantly absorb risks that may crystallise from adverse events. This ensures that potential spillover effects are isolated with limited externalities on the financial system.

In fact, the International Organisation of Securities Commissions (IOSCO) emphasises the importance of securities regulators to adopt RBS regime and this is prominently featured as one of the IOSCO’s principles of regulating market intermediaries.

And in recognition of the importance of RBS, and to align its oversight functions with global trends and the guiding principles of the IOSCO, SEC has adopted RBS into its supervisory process.

“This is to ensure that regulatory oversight is more effective, investor protection is advanced and systemic risk is mitigated,” the Director General of SEC, Mounir Gwarzo stated.

He noted that this framework is a dynamic working document that will be reviewed on a regular basis and as the need arises to ensure that it remains relevant in achieving the supervisory objectives of the commission.

As part of the adoption process, a RBS framework has been developed to serve as a guide for staff of its inspectorate division and would apply to the prudential supervision of all CMOs. Evaluating inherent risks Under the RBS, the evaluation of risk mitigating features of the CMO will be determined by a review and assessment of the quality of risk management control functions. According to SEC, the RBS process, contemplates the reliance on the opinion of external auditors for the fairness of the financial statements of a CMO. This shall be used to modify the scope of reviews and minimize duplication of effort.

Communication of findings and recommendations to the subject CMO will be timely and the degree of SEC’s involvement and engagement

Identifying capital market operators In order to manage the potential systemic risks posed by NBNI financial institutions that are identified as systematically important in the market, the commission said it would take certain the following steps.

Capital requirements According to SEC, systemically important CMOs would be subjected to higher capital requirements that are commensurate to their size, scale of activity and inherent risk. SEC said it shall on a quarterly basis review the capital adequacy status of the identified CMOs with a view to ensuring that the capital requirements are within the regulated level.

Gwarzo

with the CMO will be commensurate with its risk profile. Ratings will be provided and discussed with the CMO after each review.

Also, the RBS highlights a risk assessment summary which would indicate the risk profile of a CMO and would serve as the basis for allocating regulatory resources for ongoing monitoring and supervisory efforts.

Framework for SIFI regulation The essence of identifying certain institutions as systemically important can be traced back to the events of the 2007/2008 global financial crises, when the financial distress and collapse of certain financial institutions termed as ‘too big to fail’ prompted most governments around the world to provide substantial bail out measures for these financial institutions. The bailout measures were aimed at restoring stability in the financial system and limiting the undesirable externalities that such failures could pose to the real economy.

The economic cost of these bail out measures and the associated moral hazard, have warranted the need for regulatory reforms that address

SEC shall ensure comprehensive onsite inspection twice in a year on identified CMOs. There would be a monthly disclosure of compliance level with the framework to be submitted to the SEC. The monthly disclosure would enable the SEC monitor compliance ahead of the statutory quarterly rendition of returns

the potential risks and negative externalities that could emanate from the failure or distress of a financial institution that is identified as systemically important.

To address these challenges, SEC in line with global initiative, has developed methodologies aimed at identifying systematically important banks, insurers and other financial institutions in the country whose failure could threaten financial stability.

A systemically important financial institution is any institution whose distress or disorderly failure, because of its size, complexity and systemic interconnectedness, would cause significant disruption to the wider financial system and economic activity.

Gwarzo noted that in identifying a systematically important operator, the Commission would enhance its regulatory supervision through on-site inspections to monitor the compliance level of operators.

Objectives of the framework The commission said the overarching objective of this framework is to promote the safety and soundness of SIFIs that are under its regulatory purview, by identifying and militating against the adverse effects that the failure of such institutions could have on the Nigerian financial system and real economy as a whole.

Particularly, the framework seeks to achieve: the adoption of appropriate quantitative and qualitative methodologies for identifying SIFIs that are under the regulatory purview of the Commission; addressing the systemic risks and associated moral hazard of institutions that are seen by the markets as too big to fail; reducing the probability of failure of a SIFI by subjecting such institutions to increased regulatory scrutiny and higher requirements for loss absorbency and reducing the potential contagion effects that could arise from the failure of an institution as a result of its interconnectedness with other financial market participants.

Spreading distress Three channels have been identified through which the financial distress of a Non Bank Non-

Legal entity identifier system Identified CMOs shall be required to enroll for Legal Entity Identifiers (LEI) system at the Central Securities Clearing System (CSCS).

LEIs are unique identification associated with a single legal entity, which allows for consistent identification of parties to financial transactions, facilitating a consistent and integrated view of exposures. LEIs are essential for effective risk management for financial companies, especially for assessing their connections and exposures to other firms and regulatory oversight. The LEI can help the financial industry, regulators, and policymakers trace exposures and connections across the financial system.

Effective recovery system Identified CMOs should be required to carry out a test of business continuity plan and data recovery systems twice a year to assess and check resolvability issues where applicable and a report submitted to the Commission.

Accordingly, SEC shall verify the tests results during inspection.

Enhanced disclosure requirements In addition to the existing disclosure requirements, identified CMOs would be required to ensure greater information disclosure with particular emphasis on indebtedness and counterparty exposures to similar SIFIs and other market operators. Also, they would be required to limit their total exposure to individual counterparties.

Enhanced regular supervision The SEC shall ensure comprehensive onsite inspection twice in a year on identified CMOs. There would be a monthly disclosure of compliance level with the framework to be submitted to the SEC. The monthly disclosure would enable the SEC monitor compliance ahead of the statutory quarterly rendition of returns. Besides, SEC shall collaborate with the relevant self regulatory organisations/trade groups in the regulation of the identified CMOs and ensure that the firms operate within the scope of acceptable principles of regulatory compliance.

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T H I S D AY • WEDNESDAY, JANUARY 25, 2017

BUSINESSWORLD

ANALYSIS

Boosting SME, Agric Financing

Increased funding of small and medium scale enterprises by financial institutions is a positive development that would fast-track federal government’s diversification programme, writes Goddy Egene The determination of the federal government to diversify the economy is not in doubt considering the many benefits it would bring.

With a well -diversified economy that would no longer depend on oil as the major source revenue, the recovery from the current economic recession is guaranteed. Also, the national currency, naira, would be strengthened as there would be more sources of earning foreign exchange (fx). Besides, the manufacturing of some of the products locally will lead to a reduction in demand for fx for importation of foreign goods, thus strengthening the naira.

Small and medium scale enterprises (SMEs) are the key to the successful diversification of the economy because they are considered engine room of the economy. Unfortunately, the growth and development of SMEs have been stunted in Nigeria due to lack of adequate funding from financial institutions. Although while the benefits of funding SMEs are numerous, the risks are also high, hence many banks are reluctant to finance SMEs. However, given the determination of the government to rejuvenate the SMEs, many financial institutions are now having positive attitude towards funding that sector. The financial institutions have either introduced deliberate products to meet SMEs’ demand or keyed in to government programmes aimed at boosting small scale industries.

One of such financial institutions is Heritage Bank Limited. The bank is becoming well known for supporting small businesses, which is another way of bringing as many small businesses as possible together in a bid to add value to the SME sector of the economy.

Heritage Bank has deliberately focused on the SME segment in a bid to create a fresh set of vibrant entrepreneurs that will create jobs and distribute wealth in the Nigerian economy because of recent statistics which indicate high unemployment among the youths that make up a large percentage of the population.

One of its initiatives in the MSME sector is its partnership with the Central Bank of Nigeria (CBN) and the National Youth Service Corps (NYSC) under the N3billion CBN Youth Innovative Entrepreneurship Development Programme (YIEDP) which is targeted at the youths, particularly current serving National Youth Corps members and those within five years post-service exit.

The bank launched a N500 million Young Entrepreneurs and Students (YES) Grant in Lagos. The initiative, which is in partnership with the Nigerian Youth Professional Forum (NYPF), will, according to the bank, support students and young entrepreneurs toward socio-economic freedom.

Apart from that and in furtherance of its commitment to creating jobs and wealth, Heritage Bank in partnership with the Center for Value Leadership (CVL) developed various impact-driven programmes to empower the youths and women particularly in the underdeveloped communities in Lagos State and one of these is the Young Entrepreneurship Business Training Programme (YEBTP).

The YEBTP is a programme aimed at grooming, mentoring, and financing 100 aspiring and existing young micro entrepreneurs in Ajegunle, Lagos State. This will be achieved in the form of a grant scheme of about N8.5million, in which the funds will be used to purchase the equipment needed by the entrepreneurs.

Speaking on how the bank is assisting SME to address one of challenges SMEs face, which is access to market, Divisional Head, SME and Agency Banking, Heritage Bank, Mr. Obioma Emenike, said the bank has built initiatives around promoting access to market for SMEs such as the Heritage SME Business Fair, and the novel Heritage SME Sunday Market.

“These events enable our SME customers to showcase and sell their products and

services to potential customers/consumers thereby increasing their visibility and market reach. Likewise, in line with our value-chain optimisation, we leverage on our business structure as a bank to connect our SMEs to large corporates from whom they could source inputs at a cheaper and more affordable prices and link them to our retail clients for purchase of their goods and services. To enhance the skill-set of our teaming SMEs, Heritage bank currently runs a training and hand-holding scheme called SME Clinic. This is a visionary business solution aimed at providing smart, innovative and cost effective business support

The complaint over the years has been that while agricultural projects have long-term gestation periods, the funding provided by the banks was always of short-term duration.

This mismatch in expectation between the lenders and the loan beneficiaries had over the years proved to be a major hindrance especially in the funding of big tickets projects in the agricultural sector of the economy

for our entrepreneurs that will also assist them to generate substantial value in their businesses. During this clinic, opportunities to access funding such as CBN Intervention funds, Grants etc. are availed to the SMEs” Emenike said.

Generally, Heritage Bank has extended its support beyond SMEs to the agriculture. The recent provision of a N2 billion loan facility by the in collaboration with the CBN under the Commercial Agriculture Credit Scheme, to Triton Aqua Africa Limited (TAAL), for setting up of fishery production chain, has been widely acclaimed.

It is believed that the partnership between Heritage Bank and TAAL will help reverse this trend. Specifically, the company is expected to use the loan facility to expand its aquaculture businesses with the setting up of nursery/ hatchery for the production of fingerlings and brood stock, and earthen ponds for catfish and tilapia in Lagos, Oyo and Osun States.

With the support of Heritage Bank and the CBN, the firm of TAAL is executing a strategy of backward integration of increasing local production to reduce importation of fish.

The company will also help small-scale farms increase their fish production by making fingerlings easily available to them. In the short term, the loan support is expected to help TAAL double its current production capacity of 25,000 metric tonnes with a projection that the company will scale up its production to 100,000 metric tonnes in five years.

The partnership between Heritage Bank and Triton Farms would help boost local production, conserve scarce foreign exchange, enhance food security, and ultimately result in the creation of hundreds of new jobs, thus fitting into the federal government’s Agriculture Promotion Policy (APP) agenda.

Market analysts believe that the long-term tenure of the facility from Heritage Bank is a vivid demonstration of the fact that Nigeria’s financial institutions are positively responding to the challenges investors and farmers about the peculiarity of funding the agricultural sector.

The complaint over the years has been that while agricultural projects have long-term gestation periods, the funding provided by

the banks was always of short-term duration.

This mismatch in expectation between the lenders and the loan beneficiaries had over the years proved to be a major hindrance especially in the funding of big tickets projects in the agricultural sector of the economy.

Farmers and potential investors in the agriculture sector had consequently always accused the banks of preference for funding only projects with quick turnaround but without much value to the country in terms of job creation and contribution to the country’s development.

However, living up to its philosophy of Create, Transfer And Preserve Wealth, Heritage Bank has taken agriculture as one of the prime sectors, which can be used to empower individuals and communities in terms of creating wealth from the soil and through the entire value – chain using value addition and industrialisation. The bank the bank has been supporting various agricultural ventures across the country.

Key among such initiatives is Heritage Bank’s multi-billion naira partnership with the Oyo State government. Under the initiative, the bank is supporting the Oyo State Agricultural Initiative (OYSAI) a programme designed to revive agriculture, boost agro-allied businesses and massive empowerment programme for both youth and women across the state through the creation of thousands of jobs in the sector.

This huge, albeit laudable, project that is spread across 3,000 hectares of land in 28 of the 33 Local Government Areas of Oyo State, is in three stages: food crop cultivation, cash crop/horticulture and food processing.

Heritage bank is supporting agro investors involved in this initiative with funds and advisory services and indications are that the programme has already led to more than 20 per cent increase in food production in the State.

Heritage Bank is also supporting thousands of small holders’ farmers in Kaduna and Zamfara States in rice and soybeans production under the Anchor Borrowers Programme. These are laudable programmes that are capable of boosting government’s quest to diversify the economy from oil based to agriculture.

26

T H I S D AY • WEDNESDAY, JANUARY 25, 2017

BUSINESSWORLD

ANALYSIS

Getting the Economy Back on Track

Beyond the implementation of appropriate fiscal and monetary policies, the federal government must also ensure that it enhances the quality of governance, restore confidence and send the right signals in order to reset the Nigerian economy, writes Obinna Chima The focus of the federal government since this year has been how to revamp the ailing economy. Rising inflation, contracting economic growth and decline in economic activities, have remained a source of concern to policy makers in the country.

Although the fourth quarter 2016 Gross Domestic Product (GDP) is currently being awaited, the contraction in the country’s GDP in the first three quarters of 2016 as well as the steady rise in the Consumer Price Index (CPI), which is used to gauge inflation, clearly manifested in the activities of firms and households in the country as consumer confidence deteriorated. The slow budget implementation also impacted economic activities negatively.

With these, consumer Confidence in Nigeria decreased to -28.20 in the third quarter of 2016 from -24.20 in the second quarter of 2016.

Consumer Confidence in Nigeria averaged -8.57 from 2008 until 2016, reaching an all time high of 6.38 in the first quarter of 2011 and a record low of -28.20 in the third quarter of 2016.

Also, the country’s unemployment rate rose further to 13.9 per cent in the third quarter of the year (Q3 2016) compared to 13.3 per cent in the previous quarter, according to the NBS. Unemployment rate was recorded at 12.1 per cent in Q1; 10.4 per cent in Q4 2015 and 9.9 per cent in Q3 2015. The NBS also revealed that a total of 27.12 million persons in the Nigerian labour force were either unemployed or underemployed compared to 26.06million in Q2 and 24.5 million in Q1 2016.

In addition, the country has suffered significant drop in its foreign exchange inflows as recent report showed that the federal government aggregate foreign exchange (forex) inflow as at the third quarter of 2016 was at $24 billion, This, represented an increase by N8.67 billion when compared with the aggregate forex inflow into the economy of $15.33 billion recorded by the country in the second quarter of 2016, as indicated in the Central Bank of Nigeria’s (CBN) economic report. Nonetheless, this amount of forex inflow recorded in the third quarter of last year was paltry, compared with an aggregate of $97 billion earned by the country in 2014, which reflected the plunge in foreign exchange inflows into the country.

Although, there have been predictions that the economy would stage a rebound this year, experts have stressed that applying the right policy choices and restoring investor confidence, would be vital in resetting the economy.

For instance, the International Monetary Fund (IMF) recently predicted a slim rise in Nigeria’s Gross Domestic Product (GDP) to 0.8 per cent in 2017. The IMF, however, was more bullish in its 2018 economic growth expectation from Nigeria, as it predicted a 2.3 per GDP growth for the country. The projections came few days after the World Bank predicted a one per cent GDP growth for Nigeria for 2017.

Restoring Investor Confidence To a member of the Monetary Policy Committee (MPC) of the CBN, Dr. Doyin Salami, there is need for the federal government to restore confidence in other revamp economic activities in the country and attract the desired foreign exchange inflows.

“When you look at the numbers, foreign portfolio investment which was $16 billion in 2014, it was down to less than $2 billion in 2016. So, the inflow of foreign exchange has reduced dramatically. On the supply side, inflows are down, but on the demand side, the pressure for forex is still high. That is one of the few challenges that this economy is facing,” Salami, who is a lecturer at the Lagos Business School (LBS), Pan-Atlantic University, explained.

Salami argued that Nigeria “unwisely allowed herself to be exited from the JP Morgan Index.

It was very unwise! Given that I sat in some of the meetings and listened to some of the comments, Nigeria really needs to understand

Adeosun

that in the global market, it whoever offers the best terms and best securities that get it. My view is that currently, Nigeria’s policy stance is not aligned to attract capital flows. I don’t want to be sentimental.”

But he maintained that in terms of capital flows, if the country can rebuild investor confidence in the policy making of the government, then it would be able to attract capital flows.

“But if we cannot, we would continue this way. 2017 would be driven by the resource allocation mechanism to be adopted by the country. Nigeria has one of the best forex policies introduced in June last year; it is just that we haven’t implemented it yet.

“As a nation, how we come out of recession is as important as coming out of recession. If we

As a nation, how we come out of recession is as important as coming out of recession. If we come out of it in a manner that sends us back to it two years down the line, because what we did to come out of it was unsustainable, that would be too bad. If we come out of it in the right way, it is going to be gradual

Nwankwo

come out of it in a manner that sends us back to it two years down the line, because what we did to come out of it was unsustainable, that would be too bad. If we come out of it in the right way, it is going to be gradual,” he added.

Furthermore, he pointed out that because of the structure of the Nigerian economy, events in the global economy would always influence activities in the domestic market.

According to him, the international environment is no “longer set fair for Nigeria,” saying that part of it was our fault and partly because of the fact that things have changed.

On his part, a former Deputy Governor of the CBN, Prof. Kingsley Moghalu also stressed that the current economic recession facing the country as well as the profound structural challenges posed by the dependence of the economy on oil, calls for a serious political response. To this end, Moghalu urged President Muhammadu Buhari to respond with decisive action and a clear vision that will restore confidence in the economy.

This, according to him would require a reappraisal of the role of the state, adding that government should be an enabler of growth and development, not an impediment.

He stressed that Nigeria’s policies have had effects that should bother the president, saying that a short-term, populist approach to economic thinking is exacerbating poverty, which the president vowed to tackle.

“Investors worry about the direction of policy and the competence of economic managers. The first priority, therefore, is to restore some sense of normality by making the foreign exchange markets truly transparent, which would help to attract much-needed foreign currency. This should be followed by a phased approach to structural reform,” he added.

But the Chairman, Stanbic IBTC Holdings Plc and Cadbury Nigeria Plc, Mr. Atedo Peterside, who noted that the federal government was doing some things right, such as the effort to curb overhead expenditures and to be more

frugal than past administrations, also pointed out that they are also doing many things wrong.

To Peterside, there is a reluctance to completely break from the past and embrace significant economic reforms, “even when our present predicament clearly warrants same.” “ If we do not act now or if we do not act quickly, we may find our economy needlessly mired in a hopeless situation where the citizenry might not witness an increase in income per capita (living standards) for six to eight years,” he insisted.

According to Peterside: “The search for an economic policy direction must end now because we are facing an economic crisis. A crisis is an inflection point. It is that point when multiple outcomes become possible.

When you superimpose our demanding political calendar, which requires presidential elections in a little over two years, it becomes clear that 2017 represents the last full calendar year that this administration has within which it must embrace major economic reforms, if we expect to still attain many of the more palatable economic outcomes. “It is no use arguing over who or what caused the economic recession (-2% growth) and high inflation rate (over 18.5% p.a.) that we are currently facing; far better to focus on what we need to do to get us out of this sorry state.

“There are several units within the federal government that are carrying out meaningful but disparate actions that solve many fringe economic problems. Various actors appear to be working in “silos” solving fringe problems.

What appears to be still missing is a bold, holistic and audacious effort to harmonise fiscal, monetary, exchange rate, trade and macro-prudential policies in a bold and concerted manner.”

Policy Objectives However, responding to complaints about its forex policy and some other government Continued on page 31

27

T H I S D AY • WEDNESDAY, JANUARY 25, 2017

BUSINESSWORLD

INSURANCE

Dissecting the Engagement of Alternative Insurance Distribution Channels The proposed use of alternative channels of distribution in the sale of insurance products as proposed by the National Insurance Commission is currently raising dust in the industry. Ebere Nwoji looks at many questions raised by the development The National Insurance Commission (NAICOM), precisely, in August last year, banned the use of alternative distribution channels in the sale of insurance products in Nigeria.

Shortly after that, the commission, announced that it has created new distribution agencies tagged: “Referral Partners/Agents” for distribution of insurance products in the country.

According to the commission, the channel will entail integrating and involving many organisations to be Partners/Agents of insurance companies in the distribution of insurance products across the country.

It said the initiative is expected to create opportunities for individuals and regulated corporate entities to play a vital role in the insurance distribution chain to access and reach the largely under served majority of the Nigerian population without being exposed to any liability.

The commission recently disclosed that stock brokers and lawyers are part of the new channel adding that while stock brokers will sell insurance products, lawyers will act as referrals to would-be buyers of insurance products.

In doing this, the commission said the target is to create about 10,000 jobs through this means.

This initiative by NAICOM, is good especially now that effort in the industry is geared towards deepening insurance penetration.

However, as good as the initiative is, it has raised many questions especially among industry critiques and observers.

One of such questions is the difference between using these new distribution channels in form of lawyers and stock brokers in selling insurance.

Another question being asked is why using the previous distribution partners engaged by the operators such as banks under universal banking and mobile telephone network operators?

It is apparent that one of the controversies that led to rejection of the use of the previous distribution partners was the issue of their registration and licencing by the commission as demanded by law especially banks, and CBN’s rejection of the idea of NAICOM licencing them.

With the choice of these alternative distribution channels, there is the question on how NAICOM will ensure that the regulators of the new chosen channels and referrals like the Security and Exchange Commission and the Nigeria Bar Association will not rise up like the CBN to challenge NAICOM’s licencing of the new agents and referrals or is it no longer going to register them as required by the law .

Prior to now, the commission had insisted that it must henceforth licence every insurance product distribution channel before it can operate in the industry.

The Commissioner for Insurance, Alhaji Mohammed Kari, had at the investiture ceremony of the 22nd Chairman of the Nigeria Insurers Association( NIA),Mr Eddie Efekoha, in Lagos suspended all activities concerning Bancassurance, insisting that it must licence channel partners.

On its part, CBN, which is the regulator of banks had maintained that it cannot allow the commission to licence financial institutions in the country especially banks for any reason.

Against this backdrop, Kari, said laws guiding insurance industry do not allow anybody or institution to operate or earn commission from the industry without being licenced by the commission.

“If we don’t licence them, our law forbids anybody to earn commission from insurance company and it makes it illegal for licenced insurance companies to deal with anybody who is not licenced and as insurance companies are licenced by us, it is them we will go after, if they infringe on the law, we will deal with them.

We have always allowed it because we want to deepen insurance penetration and at the same time, we are trying to bring out rules and regulation. They must be done within rules and regulation but that has failed. So we cannot

Kari

allow it,” Kari insisted.

Kari, said until the guidelines come out, the commission must strictly operate by the rules, which is that anybody who is to transact insurance business must be licenced by the commission.

These he said include all airlines, financial institutions, mobile telephone network operators among others.

“They must all be licenced by us. There are different kinds of operations we have. If you are channel partner to an insurance company, and the product is sold through another provider, that covers you but if you have no approval and so far we have released the draft guidelines for the bancassurance until we resolve it, we wouldn’t allow operations anymore”, the commissioner said.

According to him, Licencing such channels is imperative to protect the consumers and also to ensure ethical and orderly practice and in further protecting the credibility of the insurance sector which are the principal mandate of the Commission.

Aside imminent controversy from their regulators, there is the issue of creation of employment.

When the former Commissioner for Insurance, Mr. Fola Daniel came up with the idea of reviving and modernising the agency system for insurance distribution under its Market Development and Restructuring initiative, ( NDRI) which has as one of its objectives the creation of 50,000 jobs, it mainly made use of fresh graduates seeking for employment, but the present initiative, seeks to make use of stock brokers and lawyers who are already gainfully employed.

This again raises the question on how serious they will take the additional job of insurance marketing assigned to them by NAICOM as well as the question on how easy it will be for insurance operators they are working for to control them.

Already, industry observers have foreseen the failure of the initiative as they said that the present set of agents cannot effectively do the job of insurance marketing which obviously is a very difficult task in Nigeria.

They had expected the commission to make use of unemployed graduates and in collaboration with the operators come up with small incentives that will boost and sustain their interest in the job.

Again is the issue of clash with brokers and existing agents’ roles.

The development, when critically viewed, will definitely bring serious clash between insurance brokers, agents and the referrals.

The industry, is currently battling with an ongoing controversy between pension fund Operators (PFAs) and insurers over marketing of annuity products, should it again be enmeshed into another round of clash between insurance brokers and stock brokers?

Already, members of the Nigerian Council of Registered Insurance Brokers (NCRIB),have expressed their ill feelings on the issue and the Association of Registered Insurance Agents, (ARIAN) made no pretense about their own ill feelings.

NCRIB members, expressing their feelings on the issue lamented that salutary as the initiative to grow the insurance industry may seem in the face of its current growth challenges; the proposal may be counter-productive and antithetical to enduring insurance growth on the long run.

According to the brokers, by definition, insurance agents and brokers play significant roles in insurance intermediary services, given the technicality of insurance practice and the need for well-informed intermediaries to interpret policy wordings, advice clients and assist them when a loss occurs and they are due for compensation. This definitely is the practice all over the world and it is meant to allow clients maximise the value of their insurances and sustain good image for the industry.

The insurance brokers, said the idea of bringing in stock brokers as referral agents would therefore raise some fundamental issues, among them, the competence and capability of the stock brokers to discharge insurance professional duties without requisite qualifications and competence.

According to them, aside the image challenge that operation of such referral agents would pose to the industry, especially at the point of claims payment (where insurance brokers are

most suitably competent and experienced) the step would cheapen the industry as indicated by the ceding of its responsibilities to other non- insurance professionals.

According to them, image wise, research has shown that the image problem being faced by the insurance industry today was significantly caused in the past by ignorant or half trained agents who held themselves out in the eyes of the public as insurance operators, but later, wittingly or unwittingly, infringed on ethics. They warned that the industry is likely to have similar challenges if this proposed arrangement is implemented.

In terms of control and regulation, NCRIB, noted that NAICOM, presently regulates and exercises oversight functions over agents of insurance companies who are licensed by the Commission and who could be punished when they err. They said it will remain a puzzle how NAICOM would wield same control over stock brokers who are under another regulatory authority when they infringe on the rules.

The NCRIB, which stated these in a position paper on the proposed channels stated: “It was also observed that NAICOM in the report indicated that the stock brokers would only be sales agents of insurance products without being exposed to any risk. This assumption looks improperly conceived. If truly the stock brokers would be mere “placement agents” without any risk attachment, how then would they be expected to discharge their services better than the existing insurance brokers, for instance, who are expected by law to have significant Professional Indemnity against negligence in the discharge of their duties.

They viewed that much as there is the need to grow the insurance industry as it is today, the strategy for such growth must be birth in consensus by all operators in the industry and be well-conceived, in view of the peculiarity of the insurance industry.

According to the brokers, on the part of NAICOM, the best way to give further impetus to the growth of the insurance industry is to encourage the increase in number of insurance agents and brokers in the market, as well as give the new entrants mandate to provide sufficient interest in micro insurance or grassroots insurance as a prerequisite for their licensing.

“Some forms of waivers could also be considered for the intermediaries who show verifiable inclination towards insurance penetration at the grass roots.

Anything short of this would amount to further diminishing the relevance of the extant manpower in the industry by ceding off their businesses to outsiders. It will also give birth to a long run image implication which dimension would most assuredly blight whatever short term gain that is envisaged for the industry”, the brokers stated.

This being the case, NAICOM, should therefore in using the alternative distribution channels trade with caution to ensure that in bringing professionals from other walks of life to sell insurance, it does not further expose the industry to become an object of further poaching as it has happened before. It should remember that sectors like aviation sector was before now itching to start packaging its own special insurance arrangement as well as the Road Safety Commission, which before now was eyeing third party motor insurance to be the issuer before the industry raised alarm and brought it to a stop. NAICOM should not let open the door for them to come in poach the insurance products they are marketing and enmesh into another round of loss of its lines of products.

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WEDNESDAY JANUARY 25, 2017 T H I S D AY

T H I S D AY WEDNESDAY JANUARY 25, 2017

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T H I S D AY • WEDNESDAY, JANUARY 25, 2017

BUSINESSWORLD

INSURANCE

Owusu-Boateng: Insurance Firms Need Technology Upgrades to Grow The Chief Executive Officer of Kaizen Business Solutions, a business technology solutions distribution company, Mr. Isaac Owusu-Boateng, spoke to Chinazor Megbolu on a software that can assist in deepening the insurance industry. Excerpts: custom management reports, dashboards and data extracts to make the most out of their loss control data. Leverage the power of business intelligence to target loss control efforts based on identified issues.

What exactly is Insurance Systems Incorporated (ISI) into?

Insurance Systems Inc is dedicated to providing technology solutions to the insurance industry. We take an integrated approach to policy administration. This means that we don’t believe it ends once the policy is out of the door. Billing, claims, reinsurance, loss control and financials are key components of the business, which is why we developed a suite of solutions that bring these pieces together on one modern platform. We also give insurers a few things they wouldn’t normally expect in a policy administration software including CRM, a robust rules engine, a flexible document engine, document management functionality and business intelligence tools – all in one configurable, modern, scalable platform.

With the introduction of this software will it increase the cost burden to the customers?

No, it is a tool that the insurance company has acquired so it does not have any impact on the cost; it does not reduce or increase the cost. It is a normal tool the company uses to enhance their job in their survey, inspection and claims reporting.

Is there a particular reason why you chose insurance software ?

To create a web based insurance software that will bring ease of use and control, providing accuracy and efficiency. And ISI enterprise and other modules have been the toast of users.

Can all Insurance firms benefit from this service or is it for just some particular firms?

Yes is for all insurance companies into commercial property, residential property, marine cargo/vessels, factories & equipment, automobiles, commercial fleets, workers’ compensation and many more... ISI Inspection is used by insurers for all lines of business.

Can you explain how the software benefits the direct users?

ISI Enterprise software is a dependable one-stop-shop for all your Insurance system needs, using an integrated approach to policy administration. We create client successes; an intuitive, configurable and integrated product, efficient implementation processes and high quality support from our well-trained insurance professionals. This means that we don’t believe it ends once the policy is out the door. Billing, claims, reinsurance, loss control and financials are key components of the business, which is why we developed a suite of solutions that bring these pieces together on one modern platform.

Is the main enterprise software 100 per cent secure and what was the challenge of developing such a software?

ISI Inspection App is a web based App and very secured against all threats. On the challenge, we did not encounter any challenge. Everything was right from the word go.

What can you say are the main functions of the risk control app?

ISI Inspection App is used by insurers for all lines of business, qn offline version of the system can be utilised by loss control field reps, even when working in zones without internet access. ISI Inspection App includes a flexible configuration component which allows non-technical administrators to create and modify their own survey forms without requiring programmers. It is a risk control software application that automates the loss control process. The system is a web-based application combined with an off-line tablet version to streamline the inspection process from generating a request on an account right through to completion of the field work, report creation and ongoing service. The system also provides a suite of tools for underwriters and managers to analyse risk and support decision-making.

Has the software achieved the objectives of its development?

Yes. About 75 per cent of insurers in North America, Europe uses ISI RC Inspection Tool and that’s the fact.

This software have been made to protect the industry players, are there also any consideration for the customers in the

Owusu-Boateng

market, can they be protected too?

Good, Insureds can view, complete feedback reports within the system based on their experience with the loss control field rep during the field survey and many more The number of Nigerians who are insured is still low, with technology like this is it possible that you are trying to deepen insurance penetration and how does that happen?

Insurance companies must embrace good software and technology. The reason is a good technology with seamless software like ISI Enterprise software suits insurers can reach and serve many customers.

How can the ordinary users make use of this software?

Our Inspection App has a` consolidated view of each account provides consultants and other stakeholders a single view of the insured including a complete loss control history and future service plan. No more hunting for data in multiple systems and filing cabinets. Manage inspection and loss control work assignments and service requests to optimise productivity and pin-point issues before they arise. Our loss control software offers automated assignment to field staff based on configurable rules.

Can this software be used by all insurance companies or are they industry specific to just members?

I mean for example, insurance B has its branches across the country. With this software, one central database in its head office, insurers, brokers, agents and customers can all assess and work in the application, weather selling a policy, claims, billing, financials, human resource management and Payroll. All the products the company has can be assessed in any of the branches.

Can you explain to us some of the

objectives of the risk control application?

The risk control application is from ISI and it is used mainly to control loss and prevent risk. Insurance companies sell policies and someone tells you they have property, now you begin to insure the property without seeing it which is a risk. To have accurate information about what you are insuring, you have to go to the site, see the property itself and do your assessment and feed the underwriters with what you have seen on site. This is a tool that every insurance company need. Before now most of the insurance companies go manually; write on papers and carry the information back to the office to fill it into their system. What this inspection software does is that whether it is your laptop or iPad, you take it to the site while inspecting a property; you can log into the company software or database, then fill the forms and every requirement and also take pictures still within the software.

Can this software be used on any phone or are they phone specific?

Already the App is on Google play store, once you download it on your iPad or Smartphone and you are a user, the underwriters, claims inspector and surveyors now have a tool to work and be effective with their jobs. Manage Inspection and loss control work assignments and service requests to optimise productivity and pin-point issues before they arise. Our loss control software offers automated assignment to field staff based on configurable rules. Online/Offline tablet support allows for the capture of form data, recommendations, photos, diagrams and attachments in the field.

Minimise desk time and enable consultants to spend more time in the field with our risk control software. Automatically produce professional and timely reports and letters based on configurable document templates. Improve consistency and reduce errors in communications to insureds and other stakeholders. Business users can create

The number of Nigerians who are insured is still low, with technology like this is it possible that you are trying to deepen insurance penetration and how does that happen?

Yes, technology helps and when you go to the Nigerian Insurance Commission (NAICOM) and the Nigerian Insurance Association website, they all want to have more companies and individuals to be insured and looking at that it means you need to employ technology to be accurate and enhance your work. If you are bringing in more people and you are using the old tools, it would not help you and at the end of the day it would make you slow and inaccurate. You may not be able to disburse your claims on time or dealing with policies might not be on time. Because there are scenarios where someone wants to insure his property and it would take a long time because the broker would do his or her part but for the insurance companies to close the deal, it would take a long time. Some clients would prefer to go to insurance companies who have the tools and are smarter because they want to get their properties insured quickly and go on. With this tool what we seek to do is enhance or give the insurance company a tool to expedite their work and I would encourage all of them to get them. We have demo size to play with and we can give them in-house training to use it and see what I can do for them.

What more are we expecting from ISI in the coming years in terms of technology?

We seek to improve even this inspection tool and our cargo. The age where insurance companies use typewriters to print insurance certificate for marine and cargo is over, we have that system now and we are improving it more.

With it, in less than five minutes you have your certificate, you have the true copy, the certified copy, the receipt and that is one way the client or one who has a consignment can login at any time to see his or her certificate.

The insurance company can also login. Also, we are working on agents and brokers portal free of charge for the insurance company where the insurance companies would subscribe free of charge and their brokers can login and work online wherever they are and push it to the various underwriters. It makes insurance delivery faster, simple and efficient.

How do you see the insurance landscape going in 2017?

I see the net widening but still I would say, if they don’t embrace some of these technologies, the widening would slow down. Where we are now all companies including insurance companies must embrace modern technology now. It might be expensive initially but it pays especially if you want to open a need company, you do not need to keep dragging to expand. The market is open for expansion only when they embrace technology and a good technology at that. This inspection tools we are talking about we are ready to do a lot with it and it is not meant for only insurance companies, any industry that are into inspection; manufacturing, transport, logistics they need that tool so we want to do

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T H I S D AY • WEDNESDAY, JANUARY 25, 2017

BUSINESSWORLD

ANALYSIS

GETTING THE ECONOMY BACK ON TRACK policies, the CBN Governor, Mr. Godwin Emefiele debunked the insinuations that the policies were meant for a few in the society.

He explained that the monetary policy stance of the central bank was always designed to serve the best interest of majority of Nigerians.

Emefiele noted that “policies were put in place to help Nigeria pull through the hard time.”

He observed that the country found itself in the present situation due to lack of appropriate commitment to economic diversification, especially when the earnings from oil were as high as $140 per barrel, just as he noted that earnings of the government had risen to height of $3.2 billion and fell to about 500m per month recently.

According to the governor, there was also a time when the crude oil price stabilised at $105 per barrel over a period of five years.

“What did we do with the huge accretion to the reserves then?”

Emefiele therefore, counseled the critics of the CBN and government policies that “priority will be given to Nigerian masses by managing the limited resources to provide for industrial raw materials, plants and equipment and agricultural inputs in order to create employment and generate wealth.”

Aligning with Emefiele, the Minister of Finance, Mrs. Kemi Adeosun, said that the foreign exchange challenges the country had been experiencing in recent time was as a result of the consumption based model of the country over the years.

Adeosun noted that with about $27 billion, the country does not have sufficient savings in its external reserves compared to other oil producing countries such as Saudi Arabia with $700 billion in its reserves. However, the finance minister pointed out that if the country would be able to fix its refineries, a significant amount

of the pressure in the forex market would be reduced.

“Part of the problems we are having is foreign exchange. The challenge we are having with the foreign exchange is our consumption based model. Oil accounts for 30 per cent of our demand for dollars. So if we fix our refineries, 30 per cent of the money we need in dollars will just disappear.

“In 2010, there were warning signs that the oil prices were going to fall, but we didn’t take it serious. If we had done what we are doing now in 2010, such as cutting cost and cleaning up the power sector, we will not be where we are now. However, we are hopeful that it will not happen again. We are not an oil economy, oil accounts for only 30 percent of our economy,” Adeosun said.

In addition, she stated that there was a strong link between corruption and the present state of the nation, adding that as part of the president’s efforts to transform the country, the fight against corruption would continue to be given the necessary attention.

“We cannot bury our head and forget, we have to fight it, otherwise it will continue.

It is corruption that has brought us to where we are and added to that is wastage. We must watch the way our monies are spent,” she noted.

She lamented that during the oil boom the country didn’t save enough for the future; instead 90 per cent of government spending was been spent on recurrent expenditure, with just 10 per cent on capital project.

Fiscal Reforms Therefore, as part of efforts to get the economy right, the Chief Executive Officer of the Time Economics, Dr. Ogho Okiti advised policy makers in the country to push for “deeper

form of reform that would transform education, infrastructure and governance’ in other to transform the Nigerian economy.

This, the economists noted would be the only path to guarantee sustainable economic growth. Okiti pointed out that the historical lesson learnt from the present situation in Nigeria was that oil prices drove economic growth in the past.

“Another lesson is that wholesale reforms are not sufficient. President Obasanjo started some of those reforms and it continued under the late president Yar’Adua and President Jonathan also did some reforms.

“But these reforms are wholesale reforms, they are helicopter reforms and are not sufficient enough to drive long term growth and productivity in the long-term and of course, long term increase in prosperity and reduction of poverty. That is why in a matter of two years that oil prices started declining, we started seeing the effect on the Nigerian economy,” he added.

However, the Chief Executive Officer of the Nigeria Incentive-based Risk Sharing System for Agriculture Lending (NIRSAL) Aliyu Abdulhameed, argued that the solution to the problem with the Nigerian economy is agriculture.

“As far as we are concerned, the past is dead and the future now. No need to be looking back and think you are going forward. The agriculture sector employs between 70 and 80 per cent of Nigeria’s population. The rural economy is denominated by agriculture, but not agriculture as it ought to be,” the NIRSAL boss said.

He stressed the need for Nigerians to start seeing agriculture as a business, which according to him is the spirit of NIRSAL. “We intend to grow our capital base in a

short while to about $3 billion. The whole idea behind this is that you can only talk business when you stand on capital that your voice can be heard. Government create policies, but government cannot do agric-business. Our job is to work is to create agriculture that makes sense to businesses. So, we need to get the economy right by focusing on agriculture,” he added. He noted that Nigeria has the natural resources perfect to develop the agriculture sector, these he listed to include land, weather, water and human resources. Abdulhameed said comparative advantage needed to be converted to competitive advantage.

“When you enter competitive advantage that means you have to submit yourself to the realm of business. Therefore, agriculture needs to submit itself to the discipline of finance, economics and the discipline of business. The only country that has the capacity to feed Africa is Nigeria and this is the moment,” he added.

Also, among his 11 major policy prescriptions which he urged the federal government to consider recently, Peterside called for a review of the CBN’s forex policy, saying that the more restrictions they placed on forex repatriation, the less likely it had become that badly needed forex inflows from portfolio investors, foreign direct investors and Nigerians will pick up.

Among others, he said: “The federal government should urgently pursue high-powered negotiations which should be brokered by persons with a healthy track record in this activity and the ancillary pipeline protection business. In the longer term, I favour a constitutional amendment that reserves a one per cent royalty payment to immediate host communities on all mining and mineral producing activity (including limestone, oil, precious stones etc.). Communities will then be well incentivised to keep production activity going.”

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T H I S D AY • WEDNESDAY, JANUARY 25, 2017

EDUCATION FUTO VC: Post-UTME is Necessary to Produce Quality Graduates The Vice-Chancellor of the Federal University of Technology, Owerri (FUTO), Professor Francis Eze is barely five months in office and his efforts to raise the bar has started yielding fruits. In this interview with Amby Uneze, he reveals his strategies to move the institution forward and explains why post-UTME should be allowed to continue, among other issues. Excerpts: You recently became the vice-chancellor of this university and you had the first convocation ceremony under your leadership, what is your experience so far?

It has been a wonderful experience because I was deputy vice-chancellor administration and I thought I knew almost everything but I just discovered that I didn’t know the enormity of the problems we have. For over five months now I have been in the saddle, I feel the pinch and I weathered the storm but I carry everybody along. I feel that we are moving and people see us because we say it the way it is and we have the integrity, we are transparent enough in all our actions. We touch people. We have the human kindness to govern the people.

So we are forging ahead and I want people to see us the way we are. So to that extent I am happy and I am not daunted by the enormity of the problems because I know that we will continue to confront them one after another. I know that by the grace of God we shall overcome.

In some universities it is like a norm that after appointing vice-chancellors, oppositions and internal wrangling ensue, but in your case it was not so. Were you a consensus candidate?

I have been here for the past 26 years having come in as a lecturer one, I grew through the ranks. I have been acting head of department; I have been a coordinator of a programme; I have been HOD; I have been dean for two times; I have been a director; and I have been a DVC. So you can see many of those positions I held were by election and there was no election I contested in this university that I haven’t come up tops not just winning but coming number one.

I was a member of the ninth governing council and my colleagues in the senate voted me and I came tops. For one the first time I defeated an incumbent dean, my colleagues voted me when I wasn’t in the senate and I said I wanted to represent the congregation and I got into the election and my colleagues voted me and I came tops, so it’s been like that because I feel a university is not a place you come for exploitation or for quick money. And I followed a top brace academic that made all sacrifices but they didn’t have the money. There is joy in academics. Primitive acquisition of wealth is not a good way to exist. If I look at people who have done that they are not happy. I think I am a very satisfied man and anytime I interact with my fellow human beings I win hearts. They believe me because I say the truth; I think that is the secret.

You just had the first convocation under your leadership, how did it go and what calibre of visitors did you host?

I think I am on top of the world. This is my first outing and you know when you do this type of thing you listen to others and they give you the report. All the reports I have been receiving are very excellent ones. I give kudos to my assistants, committee members (ceremonial), this committee has done a wonderful job to put things together. On our own part we also did our bit to ensure that everything went well. And FUTO is a brand name, all the people we invited came. We had two ministers, so many people from Abuja, so that tells you the extent of its success. Our

You know there is this misinformation going on about the power tussle between the town unions and the traditional rulers to the extent that during admissions, their town unions would bring their list, traditional rulers would bring their own list. The town unions don’t have confidence in the traditional rulers and the traditional rulers are the chief security officers in their communities, so that is the problem they usually have. However, I still believe that the traditional rulers themselves will continue talking to them. At times they would say they are not being carried along, these are also some misconceptions they usually have.

The university cannot tar roads, we haven’t tarred the ones in our campus but if there are some palliative measures we can put for them. One of the traditional rulere came during the rainy season and complained of no road and we went and graded the road for them, now there is dry season when our equipment is put in order we can grade the roads for them. These are things we can do but if you ask us to do roads and put asphalt we don’t have the funds to do so. That is the situation. We are talking to them and we believe they will understand.

Eze

students were so happy, we carry everybody along. At some point people asked me ‘are you going to be vindictive on those who opposed you’, and I said no. I can’t fight the battle. God fought for me. They are coming back because some of them have seen that there is no point doing what they are doing. Generally the campus is quiet, the students are happy, the staff are happy.

All the unions are happy and whatever the misinformation they were getting some have even come to apologise to me that they didn’t know. That is the truth.

Encroachment in universities by host communities is rampant, how has it been in this institution?

It is very unfortunate with what we are seeing here, the level of encroachment is unprecedented. Another flank was opened recently along the Port Harcourt road axis, precisely at Avu Junction. There is massive encroachment going on there. We have appealed to them, we have asked the press to help us. We have written to all the authorities: the federal, state governments and communities. We have admonished them but that is still going on. We have taken adverts in form of caveat emptor in newspapers to tell people that if they go and invest money in such dealings that they stand the risk of losing their money and that the best is to keep off but the place is a legally and duly acquired land. What we have achieved for these communities is so much and they shouldn’t distract us and

I hope that the minister who represented the president said he wants to intervene.

He thinks the federal government; the state government and the host communities should come together and iron out issues. So that is the way we have approached the issue but we feel this type of thing we can’t go there with force because if in the event somebody is killed and maybe such person may have very little knowledge about the land. So we are appealing to them and we will continue to do so.

Has there been any cordial relationship between the university and the host communities in the past?

Of course there has been because what you call corporate social responsibility, the university has always done her part. We have outreach programmes: our Optometry department embarks on an outreach programmes to examine their eyes and so on.

We have our medical centre also opened for them, once a month they come there and get medical attention free of charge and then the schools are opened for them: the primary and secondary schools, all the small jobs we reserve for them, and by 10 am they finish and by the end of the month we still pay them N10,000 each. All the contracts are there for them for those who are qualified for these contracts, we give them. For minor work we give to them and for admission purpose we give them admission, the record are there. When permanent jobs come we also give them.

I understand that some students scored high grades in their final examination, how do you intend to maintain that tempo of excellence among students?

Actually I was part of the immediate past administration as the DVC administration.

This journey started in 2011, though I wasn’t DVC then but I was a prominent member of that administration and we said the first quality assurance will come from the admission. If you admit good students, the results will show and we said if you as a student and for you to get admission you score a minimum of 180 in the Unified Tertiary Matriculation Examination (UTME) and a minimum of 180 in our post-UTME. In our post-UTME we make sure there won’t be any cheating of any sort, no impersonation and we put a lot of effort in it, and so today it has paid off. We have 39 first class results, the first in the history of this university.

We have 782 second class upper division, we have never had it before because we have the right students and that is part of my mantra ‘to recruit, to nurture, to develop quality, uniquely, qualified students; and we want to also develop exceptional staff in science, engineering, technology and in innovation’.

This will sustain us for another five years and then FUTO would be an institution to beat. Initially, people may not like the policy because when we implemented that it took the pressure off to ourselves, and we insisted on that policy. It affected us, it affected our staff and we sustained it for five years and if we do that for another five years then we will be able to get there.

And that is why we are appealing to the federal government that the post-UTME is a very important assessment criterion by universities for admission because if we do that the quality of students we admit will show and it will be nice for the system. We will continue to beg them to rescind that decision on the ban of post- UTME because we have the evidence to show that it is a very important assessment for admission in our universities.

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T H I S D AY • WEDNESDAY, JANUARY 25, 2017

EDUCATION

Fayemi Attributes Crisis in Education to Irrelevant Curriculum Funmi Ogundare

The Minister of Solid Minerals and former Governor of Ekiti State, Dr. Kayode Fayemi, has expressed concern over the apparent irrelevance of the education curriculum to life experience and the gulf between the classroom and the society.

He blamed these for the crisis in the education sector.

Fayemi, who made this known while delivering the convocation lecture of the University of Lagos (UNILAG) titled, ‘Building a SuccessorGeneration: Reflections on Values and Knowledge in

Nation Building’, said universities are meant to be breeding grounds for society’s elites and are supposed to be the sites of knowledge production where solutions to the challenges of development are produced.

“It is not misplaced for society to look to our universities to produce successive generation of elites that can fix our country and help us achieve our strategic national development priorities.”

He urged universities to embrace change, re-imagine possibilities and revitalise continuously, adding that in contemplating the challenges of leadership and development

in the country, there is need to critically appraise educational institutions and make necessary interventions to ensure that they have adequate funding, world class physical structures and functional teaching equipment, as well as the right social environment that supports the education of the total man.

The minister also highlighted lessons that must be learnt in the university environment that promotes the inculcation of progressive values and the development of sound character in young people.

“If we are to improve the quality of our country’s human capital and invariably have better national development outcomes, we have to pay attention to the factory that produces the most important segment of our workforce that we expect to drive development in every sector, and which is the crop from which our future leaders will arise.”

He expressed concern about the high rate of unemployed or underemployed youths being produced by universities leading to a massive unemployment

crisis that has calcified over the years, with grave socio-economic portents for the future.

“How are our universities addressing this and other strategic national priorities? Are we paying enough attention by ensuring that our graduates are well equipped to respond to this and other challenges of our time?”

He said the country also has the tragedy of academically sound graduates who have no idea of ethical awareness, locus of control or moral judgment in their beings.

The minster advised the students to learn how to learn, saying that since the university offers the opportunity for serious minded young people to acquire knowledge, their ability to prove that they have learnt what they ought to, in accordance with the curriculum, will be the criterion from level to level till graduation.

“Some people mistake passing exams for acquiring knowledge; they are two different things.

As a student, you have to learn the principles behind actually acquiring knowledge.

FG TasksVarsity Councils on Quarterly Situation Reports Kuni Tyessi in Abuja The federal government has reminded university managers and governing councils that it remains the proprietor of all federal universities and governing councils and has mandated that a comprehensive situation report on activities within the institutions must be presented on a quarterly basis to the ministry of education through the National Universities Commission (NUC). It said a reporting template will be sent to all public federal universities.

It also directed that vicechancellors and pro-chancellors must be accountable, transparent and upright as recent happenings have revealed that most of them have become regular visitors to the anti-graft agencies of EFCC and ICPC because of allegations of mismanagement, which is unhealthy to the system.

The Minister of Education, Mallam Adamu Adamu, who made this known in Abuja during the inauguration of the governing councils of the University of Port-Harcourt and Obafemi Awolowo University, Ile-Ife, said usually situations are allowed to deteriorate before

the ministry is alerted through the media.

He charged the governing councils to play their roles with skills and efficiency and to be bold, innovative and responsive as it is expected that they would provide governance and the type of leadership that would stimulate rapid growth and make universities more competitive and attractive. ”The Federal Government of Nigeria remains the proprietor of all federal universities and governing councils must receive their directives and briefs from the Federal Ministry of Education. Councils are henceforth requested to begin submitting comprehensive situation reports on their activities to the ministry through the NUC at the end of every quarter, a reporting template will be sent to all universities.

“Recent happenings in some universities have raised serious questions about the quality of leadership in these institutions. A situation where vice-chancellors and their pro-chancellors would become regular visitors to EFCC and ICPC because of allegations of mismanagement is very unhealthy to the system.

Kwara Solicits Saudi Govt’s Support forNewVarsity Hammed Shittu in Ilorin The Kwara State Governor, Abdulfatah Ahmed, hassolicited thepartnership and cooperation of the Saudi Arabian Government inthe areas of agriculture, education and manufacturing sectors. He said most of the security problems confronting the country are as a resultof illiteracy and joblessness of youths. The governor, who spoke at the foundation laying ceremony of the proposedDarul-Kitab University, Agbeyangi in Ilorin East Local Government Area of thestate, said the establishment of the university would contribute to solving thechallenges confronting youths.

He said his administration established the International

Vocational Centre, Ajasepoto address technical and vocational skills required for the developmental needsof the state Ahmed assured the public that his administration would continue to createenabling environment for the establishment of such institutions and investmentopportunities.

The Proprietor of the proposed university, Dr. Abdulkadir Sholapgberu, said theinstitution has secured an interim approval from the National UniversitiesCommission (NUC) to proceed on erecting structures for the university. He said the desire to establish the university was as a result of the passionto contribute to the development of the community just as he did withDarul-Khitab College, Wasauna, Ilorin.

L-R:The ChiefTechnology Officer, ATBTechsoft Solutions, Patrick Aniah; the Director, Small Mid-Market Solutions and Partners Group, Microsoft Nigeria, Oluwawemimo Adeniyi; the Chief Executive Officer, ATB, Abiodun Atobatele; and the Relationship Manager, Access Bank Plc, Olusola Osibodu, during the launch of Eduware in Lagos… recently

New Software Promises Efficient Mgt of Schools’ Processes Uchechukwu Nnaike A Lagos-based information technology and software development company, ATB Techsoft Solutions Limited has unveiled a software that promises to handle all administrative and academic activities in educational institutions with ease and accuracy.

According to the company, the school management system application known as Eduware can be used by institution of any category (primary, secondary and tertiary) and apart from its accuracy, it was also designed to save a lot of time and effort.

Briefing journalists recently in Lagos during the launch of the software, the Chief Executive Officer, Abiodun Atobatele, said Eduware connects each

department to the school and the school to the student and/ or parent, where necessary, to provide them with information sharing, easy retrieval of information for prompt decision taking and it is user-friendly.

He said the company spent the last seven years developing several software systems through evaluation, design, planning, developing and testing, adding that the product is delivered as a cloud offering leveraging the Microsoft Azure Cloud Service.

“What we have done is to offer software solutions of higher standard and functionality to the market as against what most organisations are purchasing offshore and at a much lower cost. This means Nigerian organisations do not have to

spend hundreds of thousands of dollars to procure software abroad.According to him, Eduware can be used for admission, students’ record management, online course registration, course time table management, online test and exams, automated result processing, e-learning, students’ affairs portal, financials, human resource management, online library, online result access, among others.

On the uniqueness of the software, Atobatele said it is cost effective, interactive; it encourages ease of real-time data integration, easy communication between students and teachers, simple user experience, among others. In her remarks, the Director, Small, Mid-market Solutions and Partners Group, Microsoft Nigeria, Oluwawemimo Ad-

eniyi, emphasised Microsoft’s approach to the cloud, addresses customers’ needs in a differentiated way.

“Our unique approach to the cloud spans three areas that when combined, give customers choice and flexibility with the cloud: enterprise capabilities, hyper-scale cloud infrastructure, and comprehensive hybrid solutions.

“Across these three areas, we bring the benefits of cloud speed, scale and economics.

Whether providing customers the tools to solve business problems at cloud scale or helping customers maximize IT investments through hybrid solutions, we are committed to providing customers with the most complete, intelligent cloud to transform their business.”

Sultan Inaugurates N19m Clinic Built by Old Students Mohammed Aminu in Sokoto The Sultan of Sokoto, Alhaji Muhammad Sa’ad Abubakar III, has inaugurated a 12-bed clinic built by old students of the Sultan Abubakar College, Sokoto for their alma mater at the cost of over N19 million.

The inauguration ceremony was organised as part of the 50th anniversary of the institution.

Speaking at the event, the monarch commended the old boys association for the gesture

and promised to pay for the services of the health personnel recruited for the clinic.

“I will also continue to personally pay for the services of a nurse at the clinic up to the end of my life. I am also urging the state government and Sokoto South Local Government Area to post a medical doctor and additional nurses to the clinic. ‘’In the same vein, I will personally assist in the rehabilitation of some structures at the college like the staff common rooms and assembly hall.”

The sultan added that the provision of quality education for the youths is key to curbing drug abuse, restiveness and other crimes and commended the state government for according education a top priority, especially the declaration of the state of emergency in the sector.

In his remarks, Governor Aminu Tambuwal, who was represented by the Deputy Governor, Alhaji Ahmed Aliyu, said the state government has commenced the total rehabilita-

tion of the college.

He promised to continue to promulgate and implement policies and programmes targeted at restoring the lost glory of the education sector.

“Education is the only veritable tool of national development and we will never waiver in taking the sector to greater heights.”

Tambuwal commended the sultan for his relentless efforts towards developing the sector, especially girl-child education.

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EDUCATION

Lagos to Domesticate Home Grown School Feeding Programme Funmi Ogundare Stakeholders drawn from the ministry of education and education districts, ministry of health, agriculture, research institutes, women’s affairs, as well as non-governmental organisations recently converged on the Combo Hall, LTV Complex, Ikeja for a two-day workshop on the FGN-a-meal-a-day home grown school feeding programme, designed to reduce hunger and malnutrition among school children and enhance the achievement of Universal Basic Education in the country.

Earlier in her remarks, the Deputy Governor of Lagos State, Dr. Oluranti Adebule, stressed the need to domesticate the school feeding programme, while acting locally and taking into cognizance the staple foods of the locality, nutritional value of meals, logistics, mode of selection of vendors, orientation, tradition and culture of the people.

Adebule, who was represented by the Permanent Secretary, Ministry of Education, Mr. Adeshina Odeyemi, regretted that most Nigerian school children are missing out on a healthy start in life as a result of their background, adding that every Nigerian child deserves the same healthy start as children born in

Asia, America and Europe.

She described the school feeding programme as a veritable way of raising the country’s literacy level, adding, “an educated society, you all will agree with me, is easier to govern and manage because of the awareness of the citizens of their rights and obligations to and from the society. The resultant effect is that most of our social maladies will reduce greatly.”

Adebule affirmed that the federal government’s free meal would also encourage the cooperation of parents and guardians towards the success of education in Nigeria.

According to her, the introduction of the scheme is expected to create 1.14 million new jobs; increase food production by up to 530,000 metric tonnes per annum, as well as attract fresh investments up to N980 billion.

“The improvement in our food growth for self-sufficiency and food security will receive a boost as there will be ready market for their products. The current rice production revolution is a testimony. In fact, it is long overdue in a poverty stricken country like ours where many children of school age can barely take three square meals daily.

“Millions of school children in Asia,

Europe and the Americas also enjoy school meals where their governments promote these policies. Don’t be deceived by nay-sayers’ position that the country’s population is too huge for the successful implementation of this programme. Far from it, even countries with bigger populations than Nigeria implement school meal policies.”

The National Programme Manager, Mrs. Abimbola Adesanmi, said it intends to see Lagos implement the programme to allow the students to benefit; get enrolled and attend schools regularly that will encourage local production and market, as well as empower the women group to be able to prepare food for the children, adding that a model should be designed in such a way that will enhance the economy of the state.

“Lagos has its own strength and weakness, what we want to do is to be able to design a model in what Lagos State sees itself becoming with the programme. The economic challenges has to do with different sectors, we are looking at improving the education sector first, let the children go to school to learn, but basically, we are also looking at the agricultural sector. What we plant is what we are going to eat.

CONGRATULATIONS

The Nigerian Academy of Neurological Surgeons recently honoured the founder, Memfys Hospital for Neurosurgery, Enugu, Prof.

Sam Ohaegbulam during its annual conference in Jos, Plateau State. Picture shows Ohaegbulam (right) receiving the award from the Permanent Secretary Ministry of Health, Dr. Gwuantau Habila

Firm Restates Commitment to STEM, Unveils 2017 Cowbellpedia Maths Quiz As entries for this year’s Cowbellpedia Secondary School Mathematics TV Quiz Show open, Promasidor Nigeria Limited has reiterated its commitment to the improvement of Science, Technology, Engineering and Mathematics (STEM) education in Nigeria.

Briefing journalists in Lagos, the Managing Director, Mr. Olivier Thiry, said the thrust this year is to provide a credible platform that would identify and reward excellence in mathematics among junior and senior secondary school students in the country. Thiry said across the world, investment in education has assumed an entirely new frontier that governments and corporate organisations have come to realise that building capacity STEM courses, which mathematics is a key component of represents the driving force for development in the 21st century.

Like in the previous editions, he said the competition is open to junior secondary

three (JS3) and senior secondary two (SS2) students from 10-18 years attending full time secondary education in public and private schools in Nigeria.

While entry into the competition is free, he added that contestants are required to register online or pick up a registration form at the state ministry of education offices nationwide. The competition is divided into two stages: Stage one qualifying written examination and stage two TV quiz show.

“For the stage one, we are continuing with the initiative that we started in 2016 for mixed secondary schools to nominate a minimum two girls for each category to represent such school. This is our own little way of encouraging the girl child to take interest in education especially the STEM courses.”

The first prize for this year’s edition is N1 million and an all-expense paid educational excursion abroad, while the first

and second runners up will get N750,000 and N500,000 respectively.

The teachers of the winners will be awarded with N400,000, while teachers of the first and second runners-up will receive N300,000 and N200,000 respectively.

In his remarks, the Director, Quality Assurance, National Examinations Council (NECO), Dr. Ikechukwu Anyanwu, commended Promasidor for the initiative which he said has been of immense benefit to mathematics education in Nigeria.

The 2016 winners in the junior and senior categories, Miss Juliet Ekoko and Master Ayooluwa Oguntade also commended the company for the opportunity given to them to horn their mathematics skills through the competition.

For the Cowbellpedia initiative, Promasidor was voted the best company in education in the SERA CSR awards and the Nigerian Institute of Public Relations, Lagos chapter awards in 2016.

Teacher-led Demystification of Mosquitos Your students and many of their parents think a world of you. If yours is a reputable and well led school, they probably have absolute trust in all the information you disseminate.

So what are you doing with your school’s notice boards?

Are your school’s notice boards boring and repetitive or are they providing parents (waiting to pick up their kids or waiting to see you) with tips to live by? Take a look at the following post on my website recently. From it, you could draw out eight tips to remedy the discomfort of mosquito bites and pin it up as valuable information for your client group. Make your school a lively place to come to!

The best prevention for mosquito bites of course is to stop mosquitos from breeding. However, if it is too late for this, there are still a few things that you can do to remedy one of the uncomfortable results of mosquito bites, which is the itching.

A mosquito bite is unlike the sting of a wasp or bee. Wasps and bees are non-parasitic. When they sting, they inject poison into your skin, usually for defense. Mosquitoes however need your blood desperately for their nutrition and survival.

Mosquitos use the elongated thin, sharp projection at the end of their mouth to puncture the skin of their host and suck up blood. To facilitate this, they deposit a protein in your blood which stops it from coagulating so that they can drink it up easily. This protein is what causes the allergic itching reaction in many people.

It appears that some people get bitten frequently and rarely feel a single itch. This certainly has nothing to do with the anopheles mosquito liking them or giving them a preferential treatment above others! The truth is that some people simply don’t get such allergic reactions and may not even know that they have been bitten.

So if like many of us, you feel the itch, and intensely scratch a mosquito bite site, you really should arm yourself with a few tips to provide you with relief. If you ask a hundred people living in mosquito prone countries what they recommend, you may get over a hundred fold different answers. Here are some of the most popular ideas.

Lemon: Cut a lemon to two halves. Take half of it and rub it on the bite for quick relief.

Ice cubes: For temporary relief, apply an ice cube to the spot to reduce the inflammation and temporarily numb the area. Ice would restrict blood flow which could reduce the allergic reaction.

The bite will probably itch again later.

Aloe Vera: Extract the gel from the meaty part of an Aloe Vera leaf.

Apply this direct to the bite.

Toothpaste: Some people recommend smearing toothpaste over the bite. The fluoride in toothpaste is said to reduce the allergic reaction. If desperate, why not give it a try!

Garlic: Mince some garlic then rub a little of it directly on the bite.

Leave this on for some minutes, then wash the garlic off.

Baking Soda: Dissolve approximately one teaspoon of baking soda in a cup of water. Douse the spot with this mixture. Cover the itchy spot with a gauze soaked in this mixture for a while.

Scratching: Even though this is not advisable, intense itching makes people go as far as to scratch open the bite and cause some bleeding. This actually forces some of the allergen out with the resultant bleeding. This sore may however become infected.

If this accidentally happens, apply an antiseptic cream or lotion to the area.

Camphor: You may wish to look for an anti-itch cream that contains camphor. Keep this on you whenever you are at risk being bitten by mosquitos. Camphor does stop the itching and if applied early enough may prevent the swelling that forms.

Camphor does appear to be one of the best homely remedies for mosquito bites. It is important to keep camphor out of the reach of children!

You would be pleased to know that the intense itching from bites would only last for between 24 and 48 hours. One of the measures against mosquito bites is to cover you in insect repellent or keep those mosquitoes out with bed, window and door netting. This is a tried and trusted way to stop you from being bitten.

Omoru writes from the UK

T H I S D AY • WEDNESDAY, JANUARY 25, 2017

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EDUCATION

JAMB Warns Parents, Guardians against Fake Vendors Kuni Tyessi in Abuja The Registrar of the Joint Admissions and Matriculation Board (JAMB) Prof. Ishaq Oloyede, has cautioned parents, guardians and candidates against patronising people he described as fake vendors of the Unified Tertiary Matriculation Examination (UTME) forms, saying that the board is yet to start the sale of form and has not authorised any operator of cyber cafe to sell the forms on its behalf.

He disclosed that those defrauding members of the public with the sale of

fake UTME forms have been reported to security agencies who have been instructed to arrest and treat them accordingly.

“I can say clearly that I don’t know when we are going to start the sale of forms. All we want to do is to make sure that things that ought to be in place are in place. I cannot tell you exactly when it would be but I know that it would be sooner than later. Why am I saying so? For instance, we are meeting with heads of other examination bodies.

“We don’t want a situation where WAEC is going

on, NECO is going on and the other is going on and students have to be put under pressure to surrender one.

That is one of the things we want to avoid.

“The second one is that when we hold our examination at a time when students are not ready you have high rate of failure and our examination is not an achievement examination, it is a ranking examination.

That is why we are saying it is not good to extend the validity because the test is a once and for all test.”

Oloyede added: “What happens to you in a day can determine whether you pass or fail. If someone

quarrels with someone else that day, that can affect his performance unlike achievement test where there are inbuilt mechanisms for continuous assessment. We want to work with other examination bodies to ensure that the interest of students is protected.

“We believe that certain things should be done.

For example we are doing computer-based test (CBT), I am not aware of anywhere in the world where you do CBT without CCTV because even if you are not caught during the exam, you can be caught after the exam because the whole thing would be under coverage.”

RUNNING THE CLASSROOM

CHIOMA ERUOTOR

Benefits of Music Education in Primary Schools Childhood is the crucial stage of an individual’s life. It plays a key role in building the foundation of physical, mental and emotional development of a man. Hence, it is vital for parents to find the best means that will support the overall developments of their kids. As it is, music attracts kids the most and inspires them as well, which can be used as the best aid for them to learn and grow.

Music is widely used in schools to teach the basic lessons of education to the kids, however, these days, parents are waking up to the benefits of using music in shaping their children’s life.

Recent studies have shown that teaching music to kids helps the growth of their left side brain that is believed to be involved with processing language and reasoning. As development of brain continues for many years after learning music at a young age will sharpen the brain and organise the circuits of the brain in specific ways.

Children’s songs are usually composed and developed while keeping in mind the subjects that interest the kids the most which automatically makes them sharp and alert to their surroundings.

Music touches various aspects of children’s life and exposes them to a world of experiences. It is a recognised form of intelligence which makes children smarter. Learning musical instruments therefore increases concentration. · Music develops other positive attitudes in children. · Music helps children to have a glimpse of different cultures. · Music is reflected in children’s communication and cognitive skills as it requires discipline to learn. · Innocent and attractive children’s song develops compassion and empathy in the heart of the learner.

As learning music takes a lot of efforts in terms of concentration and patience, it thereby improves the craftsmanship of the students. The children learn to stretch their inner resources while learning music as every achievement demands a new level of excellence.

Eruotor writes from Lagos

Always Care Awards Scholarship to 100 Female Students Rebecca Ejifoma

MEN OF HONOUR

L-R: The Chairman, Board of Trustees, Fountain University, Osogbo, Osun State, Alhaji Abdulwaheed Adeola; honorary awardee Mallam Yusuf Ali (Doctor of Letters); the state Governor, Rauf Aregbesola; and another awardee Alhaji Sakariyau Babalola (Doctor of Science) during the sixth convocation ceremony of Fountain University, Osogbo… recently

FountainVarsity Honours Babalola, Ali at Convocation For their contributions to nation building in various capacities, two eminent Nigerians were recently recognised and honored at the sixth convocation ceremony of the Fountain University, Osogbo, Osun State with the conferment of honorary degrees While business mogul, Alhaji Sakariyau Babalola bagged Doctor of Science honoris causa award, a Senior Advocate of Nigeria (SAN), Malam Yusuf Olaolu Ali bagged Doctor of Letters honoris causa.

A total of 153 graduates were turned out by the faith-based university with 17 of them making first class; 78 in second class upper division; 84 in second class lower division; and 19 with bagged third class.

Prizes were awarded to the graduands who distinguished themselves in various categories. The most outstanding student of the year award went to Miss Oni Omobukola Azizat, who got six awards including highest Cumulative Grade Point Average (CGPA) of 4.83; the most outstanding student of the year in the sciences; most outstanding student in the college of natural sciences.

Others were best graduating student in the Department of Chemical Sciences (Biochemistry and Nutrition), Alumni Prize for overall best graduating student,

as well as Prof. Nurudeen Nimbe Adedipe Prize award for the best graduating student.

In his remarks, Governor Rauf Aregbesola argued that a university does not need to have all the disciplines to become great, saying that it could be great even if it has a single faculty with good course content and concerted character moulding of students.

The Executive Secretary of the National Universities Commission (NUC), Prof. Abubakar Adamu Rasheed, who was the guest lecturer, regretted that many private universities in the country have not been able to meet up the admission quota allotted to them by the commission.

The awardees were also said to have been a pillar of support to the university following the donation of the senate building by Babalola and of a 20 room block of hostel by Ali. Babalola has distinguished himself significantly in the business spheres.

He was honored by the federal government because his company, Tele Mobile Nigeria Limited was the first indigenous telecommunication company to deploy satellite communication in Nigeria.

He has been described as a quintessential father, teacher and guide,

philanthropist, a life coach, motivator and a compassionate religious figure whose love for humanity has endeared him to man. He is currently the Deputy President-General, Nigeria Supreme Council for Islamic Affairs and President, Muslim Ummah of South West Nigeria. He had earlier been awarded D.Sc honoris causa in Telecommunications by the University of Calabar.

In his earlier years, Ali was a federal merit award recipient for undergraduates while at the University of Ife. He graduated in 1978 with a Bachelor of Law in second class upper division and a Masters in Law from the same university. He was appointed by the Chief Justice of Nigeria in 1989 as a notary public.

Ali has been in active legal practice for over three decades. He is the principal partner and founder of Yusuf O. Ali and Co, Ghalib Chambers with headquarters in Ilorin and offices in Lagos and Abuja.

He was made a SAN in 1997.

He has held many distinguished positions, including Chairman, Kwara State Law Reform Committee; Chairman, International Bar Association Committee on Damages and Negligence; sole judge of the Kwara State Local Government Election Petition Tribunal in 1996, among others.

To break the financial barrier to girl-child education in Nigeria, Always, a feminine care brand from Procter & Gamble Nigeria, has rewarded 100 Nigerian students with N100,000 each for emerging winners of its Always #MyFutureStartsToday Essay Competition in Lagos.

The initiative started in August 2016 with a viral video that showed the story of some girls and the challenges they faced.

Girls between the ages 11 and 16 were invited to send in their essays about their dream careers and the challenges they face as girls. Of the over 2,000 entries received, 100 winners emerged.

Speaking on the initiative, the Brand Marketing Director, Procter & Gamble Nigeria, Tolu Adedeji, said: “When the video was launched, we were overwhelmed with the response and support we received from everyone. It affirmed that starting up a conversation like the Always #MyFutureStartsToday could help build a girl’s confidence.”

Following the competition, she said there would be a mentorship programme in partnership with the Women in Management, Business and Public Service (WIMBIZ), which will be organized for schools in Lagos and Abuja.

She said girls in the schools would have the opportunity of being mentored, enlightened and inspired to achieve their potential.“There are so many challenges facing the girl child in Nigeria, as such, it is evident

that girl education and mentorship will not only benefit the girls, it will also impact the whole society. The education of girls is important for us.

In fact, Always advocates the empowerment of girls and women. In our bid to continue to contribute to Nigeria and Nigerian girls and women, we have launched this platform to reach more girls and help them to achieve their potential.”

The Senior Brand Manager, P&G, Mokutima Ajileye, said: “The purpose for us is beyond just selling, rather it is to empower and advocate for girls and women. We have girls that tap into our category from age 11 and we do this globally in different ways depending on the market.”

Ajileye explained that the brand wants to focus on education because once a girl-child is educated, other things would follow. “We know the struggles most girls face before being educated, like cultural barriers, which applies to the boys anyways.

Hence, we decided to tackle financial barriers through essay contest among female students in secondary schools across the country for it to be based on merit.”

Meanwhile, the founder of Bella Naija, Uche Pedro, who stressed the need for girls to reach their goals, said “we live in a world where girls are often told they cannot achieve certain feats simply because they are girls. That notion is wrong.

I strongly believe that with confidence, a girl can achieve whatever she wants.

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CITYSTRINGS

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

Bindow Takes on Starvation, Herdsmen and Farmers’ Clashes in Adamawa Daji Sani writes on the measures taken by Governor Mohammed Jibrilla Bindow of Adamawa State in tackling problems of herdsmen/farmers’ clashes, as well as the hunger and starvation caused by the Boko Haram insurgency

T

he statistics given by humanitarian workers that tens of thousands of people are dying of hunger and starvation caused by frequent Boko Haram attacks in the Northeast has spurred the Senator Mohammed Jibrilla Bindow's administration in Adamawa State, among the frontline states to take a holistic approach in tackling the menace in the state.

Bindow had lamented that due to the continuous attacks and insecurity in the state, farmers have missed three planting seasons which are the major reasons that brought starvation and hunger ravaging the residents in the North-east.

Hence, Bindow said that the state government has also keyed into the Federal Government's agricultural transformation programme to boost agriculture, as a panacea to hunger and starvation ravaging the areas.

The governor said to tackle hunger and starvation, his administration has taken short and long term plans in ensuring that food is surplus in the state in 2017 and beyond.

While speaking at the distribution ceremony of 105 new tractors to all the 21 local government areas in Yola, Bindow, said the tractors were purchased through Joint Account to boost mechanised agriculture in the state.

He said the warning of the United Nations was alarming and drastic measures needed to put in place to stem hunger and starvation in the North-east, if not it will be worst in 2017 as more people will die in the restive region.

According to Bindow, apart from procuring 105 tractors, his government had procured fertilisers, modernised seedlings, pumping machines for dry season farming adding that this was in preparation for 2017 to boost mechanised system of farming in the state.

"I want to assure you that my administration is still making some arrangements to provide more farming inputs and dry season fertiliser to farmers," Bindow said.

Also speaking, the Adamawa State Commissioner of Agriculture, Alhaji Ahmadu Waziri, said the state government would help the local government in ensuring proper utilisation of the tractors for maximum benefits.

Responding on behalf of the local governments, the Chairman of Fufore Local Government, Alhaji Aliyu Boya, said the development would not only help in boosting agriculture at the grassroots but also the revenue and will further create employment in the councils.

Although the military has degraded the insurgency in the region but stakeholders said the current challenges in the area is the humanitarian crisis ravaging the restive region.

They believe that if measures are not put in place, the fight against the insurgency has not ended. The stakeholders had suggested that a holistic approach should be taken in tackling the menace by providing food, shelters, access to education for all, employment and rebuild roads and institutions destroyed by the insurgency in the area.

Apart from the challenges of the Boko Haram insurgency in the Northern Senatorial Zone of the state, the lingering crisis between the Fulani herdsmen/farmers in the Central Senatorial and Southern Senatorial Zones respectively have also affected farming activities and is a great challenge in the state.

Of recent the issues of security, how to improve food security, creation of jobs, rebuild schools and provision of qualitative education had dominated the executive council meetings of the Adamawa state government. The state executives after a series of meetings have decided to shift the EXCO meetings to the three senatorial zones because of the peculiar

Bindow seated test running one of the 105 new tractors bought by his government to improve agriculture in Adamawa

challenges of each zone.

Immediately after the meetings held in Numan, Mubi and Fofure of the three senatorial zones, Bindow said one of the approaches was to shift the state executive council meetings to the three senatorial zones of the state to enable the EXCO to know the quantum of the challenges bedeviling each senatorial zone.

He said another reason was to enable adequate planning and bring government presence closer to people at the grassroots

According to Bindow, apart from procuring 105 tractors, his government had procured fertilisers, modernised seedlings, pumping machines for dry season farming adding that this was in preparation for 2017 to boost mechanised system of farming in the state

and also create employment to the teeming youths. "If government activities are going on everywhere in the state hunger and unemployment will be a thing of the past."

However, in an effort to build peace among herdsmen and the farmers, the state government in 2016 had set up an Administrative Penal of Enquiry headed by Mr. Joshua Atiku to investigate the matter and come up with recommendations on how to put the lingering crisis to rest in the state.

After the panel submitted its reports, the state government in its magnanimity had on 7th of January this year started the implementation of the panel's recommendations by compensating herdsmen and farmers in Kodomun village, in Demsa Local Government Area of the state, with the cash donation of N10 million as well as 775 bags of rice to cushion the effects of the attack on the people of the area.

The donation, followed the recent attack in the area which left behind 45 cattle belonging to Fulani herdsmen dead.

Presenting the relief materials to the people of Kodomun recently, the governor who was represented by his deputy, Egnr. Martins Babale, said the assistance was part of the peace initiative building mechanism, put in place by government to find a lasting solution to the lingering crisis prevalence in the area.

He reiterated government efforts, in implementing the Joshua Atiku's Administrative Panel of Enquiry, constituted by the state government to unravel the immediate and remote causes of crisis, saying the donation is part of the recommendations of the report.

"Government is going to implement the recommendations of the panel of Enquiry and the white paper by government and punish accordingly those involved in perpetrating

the crisis. I urge you to be your brother’s keeper, by imbibing the spirit of forgiveness and forge ahead for the progress of the area and the state at large."

Babale said government would soon constitute Peace Reconciliation Committee, to be saddled with responsibility of reconciling aggrieved people in the area, on the need to live in peace with one another.

Chairman of the affected community, Pius Raymond, appealed to government to beef up security to the area, as pockets of attacks are still recorded in the area. He urged government to reconstruct houses destroyed as a result of the attacks. Earlier, Commissioner for Information and Strategy Mallam Ahmad Sajoh, said government has compensated the 47 cows belonging to Fulanis, which were killed by the communities which sparked off fear of reprisal attack and panic in the area.

Sajoh said the sum of N4.7 million was expended by government as compensation of the dead cows. He lauded the efforts of the state government in its peace building initiative to bring lasting solutions to farmers/ herdsmen crisis in the state.

Barely 24 hours of the compensation, the Fulani herdsmen invaded three communities of Kwayine, Gidan Dadi and Karlahi near Kodomun in Demsa Local Government of the state killing three mobile police officers while two are still missing.

The Command’s Public Relations Officer, SP Othman Abubakar, who confirmed the development to Journalists in Yola, said the policemen were among those drafted to secure Kwayine, Gidan Dadi and Karlahi communities after clashes that followed the killing of 47 cattle in the area and added that four rifles belonging to the policemen

37

T H I S D AY • WEDNESDAY JANUARY 25, 2017

CITYSTRINGS Government is going to implement the recommendations of the panel of enquiry and the white paper by government and punish accordingly those involved in perpetrating the crisis. I urge you to be your brother’s keeper, by imbibing the spirit of forgiveness and forge ahead for the progress of the area and the state at large

Bindow

Adamawa State deputy governor, Engr. Martins Babale (right), addressing victims of herdsmen and farmers’ attack in Kodumun village in Demsa

Chairman of Kodumun, Elder Pius Raymond, addressing the Adamawa State government delegation led by deputy governor, Egnr. Martin Babale, during the peace meeting between herdsmen and farmers

Victims of herdsmen attacks in Kodomun

were also missing.

“Fulani militia attacked the three villages and we lost three of our gallant MOPOL while two are missing. We have constituted a high powered search team and by the special grace

of God we are going to recover our men. On the side of the civilians, two bodies have so far been recovered,” Othman said.

Bindow who condemned the attack, which occurred less than 24 hours after a govern-

ment delegation on peace building mission visited the area, the governor in a statement signed by the Commissioner of Information and Strategy, Sajoh, directed security agencies to deploy more personnel to the area.

He described the attack as unfortunate and sad especially coming after recent peace and confidence building efforts.

“The Governor feels highly disturbed that after he had sent delegations on Wednesday, Thursday, Friday and Saturday to interface with the different communities in the area, a clash could occur so soon thereafter.”

He assured residents of government’s resolve to restore peace to the affected areas and protect the lives of every citizen. Bindow saluted the gallantry of the police in confronting the attackers and urged them not to relent until normalcy is fully restored.

However stakeholders in the state said to end this crisis which is also a major factor in lingering hunger and starvation, all the farmers and herdsmen should be involved in the peace reconciliation bids.

They said research has shown that bringing only the representatives of farmers and herdsmen together to mend fences between the two warring groups was not enough to end the crisis but the government should organise a town hall meeting involving everybody, radio campaigns using local languages to create the awareness of coexisting together.

However, the UN Regional Humanitarian Coordinator for Sahel, Toby Lanzer, had said earlier in 2016 that “Here is something we know. We know that in the next 12 months 75 or maybe as many as 80,000 children will die in the North-east of Nigeria unless we can reach them with very specific food.”

Observers have also warned earlier that with millions more short of food in Northeastern Nigeria and neighbouring countries, the situation could get much worse, and could turn into the biggest food crisis in the world.

This devastating statistical figures, had in September 2016 stimulated the United Nations Children Emergency Fund (UNICEF) in partnership with the Adamawa State Government to flag off the expansion of its community-based management of acute malnutrition, and young child feeding in the 21 local government areas of the state.

The Adamawa State Commissioner for Health, Dr. Fatima Atiku Abubakar who flagged off the programme, says more than 800,000 children in the state are malnourished, noting that 38 per cent of children are under five years of age. UNICEF field officer, Dr. Abudullahi Kaikai said UNICEF has supported the treatment of 31,415 children from June 2011 till date in the state. They have been able to do this through the provision of Ready-to Use Therapeutic Food (RUTF), training, supportive supervision and monitoring. Kaikai said that an additional 682,823 children also received Vitamin A Supplements. UNICEF nutrition specialist, Philomena Irene disclosed that UNICEF has provided clinics around the state to treat children who lost their mothers during child birth and victims of insurgency.

Investigation had revealed that since the early warnings by the UN and some humanitarian workers on scarcity of food and starvation in the North-east, the situation is getting worse by the day which had increased social vices such as prostitution, stealing, robbery and taking of hard drugs in Adamawa State.

38

T H I S D AY • WEDNESDAY, JANUARY 25, 2017

BUSINESS/MONEYGUIDE

Afrinvest CEO Urges FG to Embark on ‘Bold’ Reforms to Jumpstart Growth Obinna Chima The Chief Executive Officer of Afrinvest West Africa Limited, Mr. Ike Chioke has stressed the need for the federal government to be bold and assertive in pushing for critical reforms in the country. This, according to him was needed to stimulate economic growth.

Chioke, who said this during a media briefing on the launch of Afrinvest’s 2017 Nigerian Economic Outlook titled: “Reform or be Relegated,” in Lagos, said with the current state of the economy, if policy makers don’t push for critical reforms, “ we would be talking of a bigger problem than what we have now in the future.”

“Nigerians are very patient people. If they have a problem, instead of solving it, they go for palliative. I think the leadership needs to try to focus on how to solve problems in a holistic manner, otherwise we would be continuously relegated.

People are talking about the ‘Giant of Africa,’ we are giant of nothing!” he said. According to him, investors in Africa are now increasingly showing more interest going to countries like Ghana, Kenya and Egypt.

“While we have refused to reform, because of either political, religious or ethnic tensions, other countries similar to Nigeria that have similar commodity driven environment, such as Russia, Brazil and South

Africa, because they reformed very rapidly, they have been able to attract enough foreign direct investments (FDIs) and foreign portfolio investments (FPIs) flows. “Last year, Nigeria only recorded $2.1 billion of FDI, compared to $5.6 billion in 2015. When you compare that to Brazil, in 2015, they recorded $261 billion of FDI flows. In 2016, because they reformed quickly, they went up to nearly $340 billion. So, in an environment where we are going down, Brazil is going up. Same thing happened in Russia, in 2015, they had $31 billion of FDI flows, while in 2016, they recorded over $40 billion of FDIs. “So, because these were markets that quickly reformed their currency, restructured their oil and gas sector, in other to attract long term capital, that immediately supported their economies and they have left the problems of 2014, far behind. But here we are in 2017, still suffering from the symptoms of 2014, when oil prices started going down and we started seeing the impact of shale production,” the Afrinvest boss added. These, according to Chioke, are problems nations face when they refuse to reform major areas of the economy, but just skirt around the edges.

“See what is happening in the oil and gas sector, the Petroleum Industry Bill (PIB) has been floating around. Look

at the Niger Delta militancy, it has been there for almost a decade. The combination of these issues means that we are looking at certain sectors for reforms. We need to carry out a major reform in the oil and gas sector. We think that we need to do whatever is necessary to ensure the passage of the PIB. That, with some targeted sale of some assets, the government can go from being 51 per cent owner of the Joint Venture to be a significant minority. Imagine an NNPC running as efficient as NLNG, you will get really attractive dividends and get value.

“The power sector is another area that massive reform is needed. One of the challenges of the sector is the national grid arrangement, which means that if I generate power in Lagos, before I can sell it to the people in Lagos; I need to send it to the national grid. It means therefore that it is extremely difficult for power to get to Nigeria. In other countries around the world, they don’t have a national grid. But we introduced it because of political reasons,” he added.

While calling on the federal government to take the minning sector out of the exclusive list, improve the ‘Ease of Doing Business,’ in the country, Chioke also advocated for favorable market friendly policies, especially with regards to the foreign exchange market.

Sterling Bank Partners Ministry of Health Sterling Bank Plc has hinged its foray into the health sector on the current poor state of the sector in the country and the consequences of this on the citizens coupled with the need for public- private collaboration for adequate repositioning.

This, according to the bank, necessitated its sponsorship of the 2016 edition of the Nigerian Service Delivery Innovation Challenge organised by the Federal Ministry of Health.

The event, which held recently at Transcorp Hilton, Abuja was attended by prominent personalities in the health and other key sectors of the economy including the Minister of State for

Health, Dr. Osagie Ehanire, Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, Minister of State for Budget and National Planning, Mrs. Zainab Ahmed and Executive Director, Sterling Bank Plc, Mr. Abubakar Suleiman who represented the lender’s Managing Director and Chief Executive, Mr. Yemi Adeola among others The bank in a statement signed by its Chief Marketing Officer, Mr. Henry Bassey, explained that the sponsorship of the innovation challenge was designed to compliment the federal government’s drive towards improving healthcare services in the country.

He further emphasised the

bank’s interest in a cleaner healthier environment for Nigerians “as demonstrated in our Sterling Make-Over (STEM) initiative which continues to reinforce our conviction in a cleaner and more prosperous nation”.

The bank expressed optimism that the ‘Challenge’ would contribute to helping Nigeria make progress in the areas of vaccination coverage among young children; check contraceptive prevalence rate among Nigerians; increase Vitamin A coverage among children of between six months to five years of age and promote the use of insecticide-treated bed nets by children under five amongst others.

Chioke

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

OCTOBER 2016 Broad Money (M2)

22,275,512.54

-- Narrow Money (M1)

10,023,616.69

---- Currency Outside Banks

1,521,797.77

---- Demand Deposits

8,501,818.92

-- Quasi Money

12,251,895.85

Net Foreign Assets (NFA)

7,612,243.68

Net Domestic Assets(NDA)

14,654,268.86

-- Net Domestic Credit (NDC)

26,774,684.47

---- Credit to Government (Net)

3,705,049.41

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

6,242,932.95

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

-2,537,883.55

---- Credit to Private Sector (CPS)

23,069,635.07

--Other Assets Net

-12,120,415.62

Reserve Money (Base Money)

6,580,594.55

--Currency in Circulation

1,825,664.51

--Banks Reserves

4,415,126.62 • Source - CBN

MANAGED FUNDS Month Inter-Bank Call Rate

December 2016 10.39

Minimum Rediscount Rate (MRR)

FirstBank Promotes Financial Inclusion As part of its engagement initiative to drive financial inclusion, FirstBank of Nigeria Limited said it is organising ‘Campus Storms’ to provide students and others in communities in in tertiary institutions, opportunity to experience convenient and accessible banking offerings right at their doorstep.

To this end, the bank said it will be at the University of Benin (UniBen) and the new Benin Market between January 24 – 27, 2017; Abia State Polytechnic & Ariaria Market on January 31-February 3, 2017; and Usman Danfodio University & Sokoto Main Market on February 7 - 10, 2017 to educate, engage, and introduce bespoke products amidst fun filled activities.

A statement yesterday said the bank’s products and services

for the market include the XploreFirst accounts designed for youths between the ages 18 – 24 to promote saving culture and banking convenience for the youth and mass market customers.

“The other products that will be on display at the ‘Storm’ are the FirstInstant Savings and FirstInstant Savings Plus accounts both of which enable customers open fully functional bank accounts, with minimal requirements from anywhere, at any time, via any of the Bank’s online platforms.

“The bank will also use the opportunity of the ‘Storm’ to re-introduce its mobile banking service, Firstmonie which enables the banked, the unbanked and the underbanked Nigerians to have the opportunity to make mobile

transfers as well as mobile payments anywhere they may be in Nigeria from the comfort of their mobile phones, simply by dialling *894# from a mobile phone and following the prompts that would ensue.

“The students and the university communities will also be taken through the dynamics of the recently unveiled enhanced features on the bank’s mobile banking app – Firstmobile – which enables customers to now carry out transactions such as domestic funds transfer from self-owned accounts to FirstBank accounts and other third party bank accounts; make quick airtime purchase for self and others on all mobile networks; bills payments; among others,” the statement added.

Monetary Policy Rate (MPR)

14.00

Treasury Bill Rate

13.96

Savings Deposit Rate

4.18

1 Month Deposit Rate

8.53

3 Months Deposit Rate

8.80

6 Months Deposit Rate

10.23

12 Months Deposit Rate

10.76

Prime Lending rate

17.09

Maximum Lending Rate

28.55 • Monetary Policy Rate - 13%

OPEC DAILY BASKET PRICE AS AT, MONDAY, 24 JAN 2017 The price of OPEC’s basket of thirteen crudes stood at US$52.10 a barrel on Monday, compared with US$51.80 the previous Friday, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes is made up of the following: Murban (UAE), Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Rabi Light (Gabon), 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), and Merey (Venezuela).

SOURCE: OPEC headquarters, Vienna

39

T H I S D AY • WEDNESDAY JANUARY 25, 2017

Nigeria’s top 50 stocks based on market fundamentals

24-Jan-17

23-Jan-17

% Change

Capitalisation

EPS

P/E

P/S

Div. Yld

Price/ Book Value

Table 1 Market Statistics Mkt Indicators

01 Dangote Cement Plc

167.00

167.00

0.00%

2,845,764,736,635.00

9.20

18.14

5.01

4.79%

3.80

02 Nigerian Breweries Plc

142.50

144.50

-1.38%

1,129,896,876,540.00

4.03

35.32

3.75

2.53%

6.89

03 Guaranty Trust Bank Plc

23.90

23.90

0.00%

703,405,183,453.60

4.90

4.88

1.75

7.41%

1.43

749.00

720.00

4.03%

593,699,532,748.00

8.81

85.00

3.44

3.87%

18.81

15.40

15.95

-3.45%

483,506,004,304.40

3.91

3.94

1.02

11.69%

0.70

Table 3 Top 5 Gainers

380.00

365.00

4.11%

210,257,918,940.00 -44.58

-8.52

2.71

4.19%

0.53

Stock

07 Access Bank Plc

7.00

7.05

-0.71%

202,495,801,417.00

2.59

2.70

0.57

7.86%

0.46

08 United Bank for Africa Plc

5.10

5.16

-1.16%

185,025,584,242.20

1.75

2.92

0.55

11.76%

0.43

09 Ecobank Transnational Incorporated

10.00

10.00

0.00%

183,495,512,150.00

0.68

14.78

0.31

6.20%

0.29

10 Lafarge Africa Plc

40.00

40.00

0.00%

182,196,072,400.00

-9.39

-4.26

0.85

7.50%

0.90

11 Presco Plc

44.12

44.12

0.00%

175,177,447,225.40

0.03

1,508.90

2.46

2.95%

4.19

12 Stanbic IBTC Holdings Plc

16.80

16.14

4.09%

168,000,000,000.00

2.04

8.25

1.20

0.60%

1.43

04 Nestle Nigeria Plc 05 Zenith Bank Plc 06 Seplat Petroleum Dev. Co. Ltd

13 FBN Holdings Plc

3.55

3.60

-1.39%

127,428,289,411.60

0.21

17.11

0.24

4.23%

0.20

14 Unilever Nigeria Plc

33.50

33.50

0.00%

126,740,424,375.00

0.69

48.40

1.91

0.15%

13.51

15 Guinness Nig Plc

71.00

68.50

3.65%

106,918,061,348.00

-3.06

-23.22

1.04

4.51%

2.71

16 Mobil Oil Nig Plc

276.00

276.00

0.00%

99,524,292,312.00

19.32

14.28

1.10

2.61%

5.38

17 Total Nigeria Plc

287.00

287.00

0.00%

97,442,767,219.00

38.02

7.55

0.36

4.88%

4.28

64.00

63.88

0.19%

83,358,790,592.00

3.31

19.36

0.54

5.39%

1.93

6.42

6.42

0.00%

77,040,000,000.00

1.03

6.25

0.54

7.79%

1.24

101.40

106.73

-4.99%

64,955,862,808.20

-0.05 -2,220.03

0.70

2.17%

2.93

17.42

17.50

-0.46%

57,385,822,457.60

0.02

773.12

2.16

1.44%

5.23

4.60

4.75

-3.16%

55,359,246,912.40

-3.15

-1.46

0.22

16.30%

0.35

23 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

24 Julius Berger Nig. Plc

34.83

34.83

0.00%

45,975,600,000.00

-2.95

-11.82

0.39

4.31%

2.42

25 Okomu Oil Palm Plc

44.00

44.00

0.00%

41,972,040,000.00

4.82

9.12

6.38

0.23%

2.60

26 U A C N Plc

17.13

16.32

4.96%

32,904,406,949.31

3.37

5.08

0.43

5.84%

0.44

27 Transnational Corporation Of Nigeria Plc

0.81

0.85

-4.71%

31,364,007,914.25

-0.47

-1.74

0.60

0.00%

0.43

28 Fidelity Bank Plc

0.93

0.91

2.20%

26,935,204,693.56

0.39

2.40

0.18

17.20%

0.15

29 FCMB Group Plc

1.33

1.34

-0.75%

26,337,605,338.73

0.61

2.17

0.16

7.52%

0.15

30 Diamond Bank Plc

1.08

1.08

0.00%

25,013,220,085.44

-0.29

-3.68

0.12

0.00%

0.11

31 Sterling Bank Plc

0.78

0.82

-4.88%

22,456,526,138.28

0.29

2.71

0.21

11.54%

0.27

32.00

32.00

0.00%

22,400,000,000.00

2.28

14.01

3.36

3.59%

13.09

33 Custodian And Allied Insurance Plc

3.63

3.82

-4.97%

21,351,167,027.85

0.76

4.76

0.58

3.86%

0.75

34 Wema Bank Plc

0.55

0.53

3.77%

21,215,956,344.55

0.06

9.23

0.41

0.00%

0.45

35 National Salt Co. Nig. Plc

7.47

7.55

-1.06%

19,791,304,683.66

0.85

8.79

1.05

7.36%

2.68

16.00

16.00

0.00%

19,134,023,808.00

-2.98

-5.36

0.68

1.88%

2.18

37 Cadbury Nigeria Plc

9.00

9.00

0.00%

16,903,818,360.00

0.50

18.02

0.60

14.44%

1.65

38 Mansard Insurance Plc

1.60

1.60

0.00%

16,800,000,000.00

0.28

5.74

0.84

3.13%

0.80

39 PZ Cussons Nigeria Plc

14.25

14.25

0.00%

14,250,000,000.00

5.69

2.51

0.99

0.70%

0.38

40 Continental Reinsurance Plc

1.22

1.22

0.00%

12,654,748,060.64

0.42

2.90

0.57

9.84%

0.68

41 Honeywell Flour Mill Plc

1.21

1.18

2.54%

9,595,539,166.18

-0.40

-2.99

0.20

13.22%

0.29

42 Unity Bank Plc

0.68

0.66

3.03%

7,948,749,800.56

-0.10

-6.63

0.12

0.00%

0.10

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 Wapic Insurance Plc

0.51

0.52

-1.92%

6,825,196,508.52

0.18

2.83

0.87

5.88%

0.41

45 Cement Co. Of North.Nig. Plc

4.62

4.40

5.00%

5,805,851,278.92

0.22

21.10

0.52

2.16%

0.54

46 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

47 UACN Property Development Co. Limited

3.02

3.02

0.00%

5,190,624,984.90

0.30

10.09

1.23

23.18%

0.15

48 Nigerian Aviation Handling Company Plc

2.72

2.86

-4.90%

4,417,875,000.00

0.15

18.00

0.55

7.35%

0.74

49 AIICO Insurance Plc

0.58

0.60

-3.33%

4,019,518,598.40

0.22

2.60

0.14

8.62%

0.39

50 Fidson Healthcare Plc

1.15

1.20

-4.17%

1,725,000,000.00

0.24

4.89

0.26

4.35%

0.27

18 Forte Oil Plc. 19 Dangote Sugar Refinery Plc 20 7-Up Bottling Comp. Plc 21 International Breweries Plc 22 Oando Plc

32 Cap Plc

36 Glaxo Smithkline Consumer Nig. Plc

TOTAL

8,483,215,617,099.65

TOTAL MARKET CAP

9,020,836,589,758.87

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

94.04%

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

Open 23-Jan-17

Close 24-Jan-17

Change %

26,231.37 9.03

26,217.54 9.02

-0.05 -0.05

108.99 8.49

108.95 8.48

-0.04 -0.04

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

Open Close Change 23-Jan-17 24-Jan-17 %

Cement Co. Of North.Nig. Plc U A C N Plc Seplat Petroleum Dev. Co. Ltd Stanbic IBTC Holdings Plc Nestle Nigeria Plc

4.40 16.32 365.00 16.14 720.00

4.62 17.13 380.00 16.80 749.00

5.00 4.96 4.11 4.09 4.03

Table 4 Top 5 Losers Stock

Open Close Change 23-Jan-17 24-Jan-17 %

7-Up Bottling Comp. Plc Custodian And Allied Insurance Plc Nigerian Aviation Handling Company Plc Sterling Bank Plc Transnational Corporation Of Nigeria Plc

106.73 3.82 2.86

101.40 3.63 2.72

-4.99 -4.97 -4.90

0.82 0.85

0.78 0.81

-4.88 -4.71

Trading activities soars, Index remains flat Market pulse today – Tuesday, January 24th, 2017 on the Nigerian Stock Exchange (NSE) ended relatively flat with a negative tilt caused by enduring investors uncertainty. This was further highlighted by negative performance from the NSE Subsectors: Consumer Goods and Oil & Gas (Save Banking and Insurance).

Trading activities increased in volume as 187.70m shares worth of N10.43 billion in 3,055 deals exchanged hands today. This is an increase from the 228.60m shares worth of N2.58 billion in 3,228 deals which exchanged hands on Monday. Topping in volume terms are: Seplat Petroleum Dev. Co. Ltd, United Capital Plc, and Transnational Corporation Of Nigeria Plc, while Seplat Petroleum Dev. Co. Ltd and Nigerian Breweries Plc ended trading as the most active stocks in value terms. Crude oil – Brent - price hover around US$55.57 per barrel.

The All Share Index (NSEASI) closed negative with 0.05% (-13.83) decrease to close at 26,217.54 from 26,231.37 the previous trading day. Market Capitalization depreciated in tandem to N9.02 trillion from N9.03 trillion of prior trading day. Similarly, the Thisday BGL 50 Index followed suit with a decrease of 0.04% to close at 108.95 from 108.99 recorded at the end of the previous trading day, while its market capitalization stood at N8.48 trillion from N8.49 trillion of the previous trading day.

Market breath closed positive as 13 stocks gained on the bourse today while 25 stocks declined, leaving 61 stocks unchanged. CCNN Plc emerged as the day’s toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 5.00% to close at N4.62 per share. It was followed by UACN Plc with a gain of 4.96% to close at N17.13 per share. Others on the gainers list include: Seplat Petroleum Dev. Co. Ltd, Stanbic IBTC Holdings Plc and Nestle Nigeria Plc; while on the decliners’ list, 7-Up Bottling Comp. Plc led with a loss of 4.99% to close at N101.40 per share. It was closely followed

by Custodian And Allied Insurance Plc with a loss of 4.97% to close at N3.63 per share. Others on the decliners list include: Nigerian Aviation Handling Company Plc, Sterling Bank Plc and Transnational Corporation Of Nigeria Plc. REQUIRED DISCLOSURE This report has been prepared by BGL Plc. BGL Plc does and seeks to do business with companies covered in its research reports. As a result, the firm may have a conflict of interest that could affect the objectivity of this report. Investors should use this report as one of many other factors in making their investment decisions.

For more details go to www.thisdaylive.com

40

T H I S D AY • WEDNESDAY, JANUARY 25, 2017

MARKET NEWS

Bears Return on Weak Investors’ Sentiments Goddy Egene and Nosa Alekhuogie The stock market closed lower yesterday, ending two days of positive performance with the Nigerian Stock Exchange (NSE) All-Share Index (ASI) shedding 0.05 per cent to be at 26,217.54.

Similarly, market capitalisation shed N4.8 billion to close at N9.0 trillion. The market had maintained an uptrend since last Friday and closed 0.03 per

cent higher on Monday.

However, the bears regained control of the market yesterday with 25 equities depreciating, compared with 13 stocks that appreciated. Shares tanked as the Central Bank of Nigeria’s Monetary Policy Committee (MPC) retained the Monetary Policy Rate (MPR) at 14 per cent. The MPC, which met on Monday and yesterday voted unanimously to maintain status

T H E MAIN BOARD

DEALS

MARKET PRICE

quo by retaining the: MPR at 14 per cent; Cash Reserve Ratio at 22.5 per cent and Liquidity Ratio at 30 per cent.

According to the Committee, the risk facing the domestic economy is in two folds- price and output- and reiterated its commitment to price stability while closely monitoring domestic and external developments that could shape subsequent decisions. .

N I G E R I A N QUANTITY TRADED

STO C K

VALUE TRADED ( N )

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

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

However, market operators said retaining the MPR at 14 per cent will make the fixed income securities remain more attractive to investors than the equities market.

Analysts at Meristem Securities Limited, said: “Given that the MPC maintained the status quo on all policy variables, we expect the weak market mood will continue to dictate the direction of activities in the

6 6 12

30.00 34.00

12,629 11,640 24,269

374,530.15 421,345.20 795,875.35

19 19 31

1.25

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

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

5 68 13 86 86

0.77 1.13 20.47

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

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

13 13

41.50

31,970 31,970

1,409,214.78 1,409,214.78

5 5 18

5.20

28,901 28,901 60,871

154,716.48 154,716.48 1,563,931.26

6 24 7 98 135

2.85 118.85 20.00 99.00

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

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

9 9

168.50

166,476 166,476

28,285,937.95 28,285,937.95

54 38 6 12 1 29 140

5.61 19.00 1.37 6.86 6.65 1.27

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

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

11 54 65

17.86 700.00

18,825 98,360 117,185

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

11 11

4.46

99,050 99,050

420,455.00 420,455.00

13 21 34 394

21.90 28.00

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

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

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

4.10 1.49 15.60 1.21 16.70 1.07 1.76 2.95 5.30 0.63 0.98

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

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

14 8 2 3 7 10 1 1 46

0.80 0.90 0.50 0.50 2.06 0.76 0.50 0.50

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

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

1 1

1.08

4,760 4,760

4,950.40 4,950.40

31 7 105 7 20 170 893

2.46 4.00 0.85 14.15 1.31

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

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

27

2.69

614,065

1,572,223.05

equities market. However, we advise investors to continually assess the market for opportunities to take positions in fundamentally justified stocks ahead of the full year 2016 earnings season.”

Seven-Up-Bottling Company Plc and Custodian and Allied Plc led the price losers, depreciating by 4.9 per cent each to close at N101.40 and N3.63 respectively. NCR Nigeria

Plc and NAHCO also shed 4.9 per cent apiece, just as Sterling Bank Plc and Transcorp Plc went down by 4.8 per cent and 4.7 per cent in that order.

On the positive side, Cement Company of Northern Nigeria Plc led the price gainers with 5.0 per cent to close at N4.62 per share. UAC of Nigeria Plc followed with 4.9 per cent, just as NPF Microfinance Bank Plc appreciated by 4.6 per cent.

E XC H A N G E

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

DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

32 4 6 69 69

25.33 0.94 0.69

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

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

1 1 1

1.69

500 500 500

805.00 805.00 805.00

16 9 4 6 10 31 76

24.00 9.30 35.78 8.62 3.36 80.50

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

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

6 6

1.51

134,500 134,500

204,240.00 204,240.00

5 5 87

50.00

24,529 24,529 15,152,108

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

2 2

0.50

24,262 24,262

12,131.00 12,131.00

90 90

3.47

3,827,573 3,827,573

13,288,632.05 13,288,632.05

21 7 8 21 7 64

18.34 1.84 342.00 150.00 145.00

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

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

33 33 189

318.00

389,934 389,934 4,473,488

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

1 1

0.50

941 941

470.50 470.50

5 5

3.80

32,870 32,870

127,756.40 127,756.40

13 13

0.89

624,500 624,500

538,430.00 538,430.00

1 22 23

2.29 4.00

4,588 251,094 255,682

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

1 1 43 1,811

1.68

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

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

2 2 2 2

1.21

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

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

306 306

11.45

13,929,679 13,929,679

159,605,439.23 159,605,439.23

278 278 584

3.74

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

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

35 35 35 619 2,432

139.83

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

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

2 2 2 2 2 10 10 10

2,330.00 2.33 6.02 11.09 18.07

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

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

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

41

wednesdAY, jAnuArY 25, 2017 • T H I S D AY

MARKET NEWS

Guinness Shareholders Approve N40 Billion Rights Issue Guinness Nigeria Plc yesterday received the approval of its shareholders for a proposed rights issue at an extra-ordinary general meeting (EGM) held in Lagos. Guinness Nigeria Plc, which is a subsidiary of Diageo Plc, had announced at the end of 2016, its intention to offer a Rights Issue as part of plans to optimise its balance sheet and improve its financial flexibility. With the approval of its shareholders, the company is now in a position to raise up to N40 billion as fresh cash

injection into its operations.

Speaking at the EGM Chairman, Guinness Nigeria Plc, Babatunde Savage, said: “Guinness Nigeria has been in this country for over 60 years and, in that time, we have continued to add significant economic and social value to Nigeria and Nigerians.

We believe this rights issue will positively impact on the financial performance of Guinness Nigeria and help mitigate the impact of increasing finance costs in what

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

continues to be a challenging economic environment in Nigeria. I call on all my fellow shareholders to take this opportunity and support the company’s objectives.”

Speaking in the same vein, Managing Director/ CEO, Guinness Nigeria Plc, Peter Ndegwa, said that the company has good fundamentals and potential for the future.

“Guinness Nigeria is a company with excellent fundamentals and we have

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 23-Jan-2017, unless otherwise stated.

the right strategy and the right people to grow our business for the future. This Rights Issue in combination with our productivity and cost optimization drive will help provide the fuel to continue to build this business for Nigeria and Nigerians,” he said.

Guinness recorded a loss of N2 billion for the year ended June 30, 2016, the first loss in 30 years.

Ndegwa had said the combination of a tough economic environment

and challenges with naira devaluation had a significant impact on Guinness Nigeria’s overall performance.

“Our performance this year was impacted by two major factors, one being the very tough economic challenges around consumer spending, driving consumer preferences towards value brands across the sector, the other, and more significant factor being the effect of FX policy and the devaluation of the Naira. When you take out the impact of

the latter, our underlying performance for the year was broadly in line with the prior year in spite of the pressure on the top line,” he said.

Guinness Nigeria Plc last year became the first total beverage company in Nigeria when it acquired rights to distribute international premium spirits like Johnnie Walker and Baileys in Nigeria in January 2016 and later commissioned a spirits line for locally manufactured spirits at its Benin plant in November.

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 131.53 Nigeria International Debt Fund 218.08 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 0.70 AIICO CAPITAL LTD Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price AIICO Money Market Fund ARM INVESTMENT MANAGERS LTD Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name ARM Aggressive Growth Fund ARM Discovery Fund ARM Ethical Fund ARM Money Market Fund AXA MANSARD INVESTMENTS LIMITED Web: www.axamansard.com; Tel: +2341-4488482 Fund Name AXA Mansard Equity Income Fund AXA Mansard Money Market Fund CHAPELHILL DENHAM MANAGEMENT LTD Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Nigeria Global Investment Fund Paramount Equity Fund Women's Investment Fund FBN CAPITAL ASSET MANAGEMENT LTD Web: www.fbnquest.com; Tel: +234-81 0082 0082 Fund Name FBN Fixed Income Fund FBN Heritage Fund FBN Money Market Fund FBN Nigeria Eurobond (USD) Fund - Institutional FBN Nigeria Eurobond (USD) Fund - Retail FBN Nigeria Smart Beta Equity Fund

100.00

aaml@afrinvest.com Offer Price Yield / T-Rtn 131.56 3.38% 218.16 1.17% info@acapng.com Offer Price Yield / T-Rtn 0.71 -0.16% ammf@aiicocapital.com Offer Price

Yield / T-Rtn

100.00

17.50%

enquiries@arminvestmentcenter.com Bid Price 12.53 290.00 22.27

Offer Price 12.90 298.75 22.95

Yield / T-Rtn 1.46% 0.98% -0.30%

1.00

1.00

17.19%

investmentcare@axamansard.com Bid Price 107.39

Offer Price 108.15

Yield / T-Rtn 1.83%

1.00 1.00 15.64% investmentmanagement@chapelhilldenham.com Bid Price 2.20 9.70 86.96

Offer Price Yield / T-Rtn 2.20 0.00% 9.70 2.32% 86.96 1.49% invest@fbnquest.com

Bid Price 1,093.92 110.82 100.00 $104.31 $103.49

Offer Price 1,095.15 111.58 100.00 $104.53 $103.71

Yield / T-Rtn 0.33% -0.68% 15.28% 0.03% -0.08%

114.76

116.28

1.86%

FIRST CITY ASSET MANAGEMENT LTD Web: www.fcamltd.com; Tel: +234 1 462 2596 Fund Name Bid Price Legacy Equity Fund 0.94 Legacy Short Maturity (NGN) Fund 2.59 FSDH ASSET MANAGEMENT LTD Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Coral Growth Fund 2,189.78 Coral Income Fund 2,125.84 INVESTMENT ONE FUNDS MANAGEMENT LTD Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Abacus Money Market Fund 1.00 Vantage Balanced Fund 1.69 Vantage Guaranteed Income Fund 1.00

fcamhelpdesk@fcmb.com Offer Price Yield / T-Rtn 0.96 1.06% 2.59 0.89% coralfunds@fsdhgroup.com Offer Price Yield / T-Rtn 2,215.33 -0.88% 2,125.84 1.03% enquiries@investment-one.com Offer Price 1.00 1.71 1.00

Yield / T-Rtn 16.57% 0.50% 15.67%

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 0.62% Lotus Halal Fixed Income Fund 1,015.82 1,015.82 0.42% 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 9.86 9.93 1.97% Meristem Money Market Fund 10.00 10.00 14.65% 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 1.07 0.22% PACAM Fixed Income Fund 10.38 10.55 0.42% PACAM Money Market Fund 10.00 10.00 11.56% 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 110.62 111.50 2.21% 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 1.25 1.25 0.58% 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 1,831.96 1,842.16 0.04% Stanbic IBTC Bond Fund 154.38 154.38 0.27% Stanbic IBTC Ethical Fund 0.76 0.77 -0.65% Stanbic IBTC Guaranteed Investment Fund 186.34 186.34 -0.29% Stanbic IBTC Iman Fund 129.75 131.50 -0.03% Stanbic IBTC Money Market Fund 100.00 100.00 17.43% Stanbic IBTC Nigerian Equity Fund 7,510.08 7,610.82 -0.88% 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 1.15 1.16 10.75% United Capital Bond Fund 1.25 1.25 19.49% United Capital Equity Fund 0.63 0.64 -6.18% 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 9.87 10.05 2.53% Zenith Ethical Fund 11.16 11.27 2.28% Zenith Income Fund 16.86 16.86 2.09%

REITS

NAV Per Share

Yield / T-Rtn

11.41 124.10

1.01% 0.10%

Bid Price

Offer Price

Yield / T-Rtn

8.20 74.39

8.30 75.78

-6.57% -1.84%

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

2.47 5.64 11.77 13.78 128.38

2.51 5.72 11.87 13.98 130.38

-10.00% -19.66% -1.89% -13.52% -1.15%

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.

42

WEDNESDAY JANUARY 25, 2017 • T H I S D AY

INTERNATIONAL

email:foreigndesk@thisdaylive.com

Plan Approved for 2,500 New Settler Homes in West Bank Israel has approved a plan to construct 2,500 new settlement homes in the occupied West Bank, two days after the country accepted building permits for more than 500 settler homes in occupied East Jerusalem.

Israeli Defence Minister Avigdor Lieberman said in a statement on Tuesday that he and Prime Minister Benjamin Netanyahu agreed on the approval “in response to housing needs”.

It is the largest recent settlement building plan announced by Israel, which came as the country’s government feels emboldened by US President Donald Trump, who is not critical of illegal settlement activity, as opposed to his predecessor Barack Obama.

Lieberman said the majority of the housing units will be built

in existing settlement blocs, areas where most settlers live and which Israel wants to keep under its control under any future peace deal with Palestinian officials.

Palestian officials have condemned Israel’s latest plan for settlements, which are illegal under international law.

A spokesman for Palestinian President Mahmoud Abbas said it deals a new blow to attempts to bring peace to the region and will promote extremism.

Nabil Abu Rdeneh said the decision “disregards” international opposition to the settlements and is calling on the international community to take a “real and serious position” against Israel.

Al Jazeera’s Imran Khan, reporting from East Jerusalem,

noted that the Israeli defence ministry’s statement said that 100 of the new settler homes will be built in Beit El, a settlement bloc “that is deep within the Palestinian territory”.

The fresh settlements plan “has already caused a significant amount of anger from the Palestinian Authority, which says it

flies in the face of UN resolutions,” he added.

“They also said that it will be the death of the two-state solution.”

According to media reports, the parents of Jared Kushner - who is Donald Trump’s son-in-law and his senior advisor, have contributed a significant amount of funds to the Beit El settlement bloc.

“We build and continue to build,” Netanyahu wrote on Twitter shortly after Lieberman’s announcement on Tuesday.

On Sunday, Israeli authorities approved the construction of 566 settler homes in East Jerusalem.

That announcement came shortly after the inauguration of Trump in the US, with Israeli official saying

the permits had been held up until the end of Obama’s administration.

“The rules of the game have changed with Donald Trump’s arrival as president,” Meir Turgeman, Jerusalem’s deputy mayor, told AFP news agency.

“We no longer have our hands tied as in the time of Barack Obama.

Now we can finally build.”

Barrow Finally Returns to Gambia, Meets with His VP Tambajang Gambia’s President Adama Barrow will return to Banjul today to begin his tenure, almost 72 hours after long serving-ruler, Yahya Jammeh went into exile in Equatorial Guinea.

Barrow, who has been staying in Dakar, the Senegalese capital since last week announced his departure on his Twitter handle and Facebook page today, hours after he announced his decision to pick Fatoumata Tambajang, 68 years old, as vice president.

Tambajang’s appointment has kicked off some dust as she is three year older than the constitutional stipulation.

The Gambian constitution prescribes a minimum age of 30 and maximum of 65 for anyone who wants to occupy the position of vice-president.

Apart from the age controversy, Tambajang is well qualified for the post. She was educated in University

of Nice in France, where she picked a Bachelor of Arts in French.

She is also bilingual. She served as the Minister of Health and Social Welfare from 1994 to 1995 in the Armed Forces Provisional Ruling Council.

She was one of two female ministers in the cabinet, alongside Susan Waffa-Ogoo.

She then went on to work for the United Nations Development Programme (UNDP) and in the field of development.

Tambajang joined the United Democratic Party (UDP) in April 2015, during the Fass stand-off with security forces.

She played a prominent role in the coalition that brought Barrow to power and believes that Jammeh should be made to account for all his atrocities and looting.

May

Erdogan

Theresa May to Meet Turkey’s President Erdogan Theresa May will visit Turkey on Saturday for talks with President Recep Tayyip Erdogan, Downing Street has said.

The prime minister is expected to discuss trade, defence and security.

Mrs May is likely to fly to Ankara from the US, where she is meeting President Trump on Friday, Number 10 said.

It will be Mrs May’s first visit to Turkey as PM and comes in the wake of Mr Erdogan’s clampdown on opponents after the failed coup in July 2016.

‘Indispensable partner’ Asked whether Mrs May will raise concerns over the clampdown during her talks with Mr Erdogan and Prime Minister Binali Yildirim, a Number 10 spokesman said:

“We have been clear in our support for Turkey’s democracy and institutions since the coup last summer.

“The PM will take this opportunity to reiterate our support for that, but we’ve also been clear that Turkey’s response to that must be proportionate and of course we will continue to raise those issues.

“The visit will reflect the fact that Turkey is an indispensable partner and a close ally for the UK on many issues of global importance, including trade, security and defence.”It also comes after 39 people were killed in an attack on a NewYear’s Eve party in a nightclub in Istanbul.

So-called Islamic State it was behind the attack and the militant group was linked to at least two other

Brexit: Supreme Court Says Parliament Must Give Article 50 Go-Ahead Parliament must vote on whether the government can start the Brexit process, the Supreme Court has ruled.

The judgement means Theresa May cannot begin talks with the EU until MPs and peers give their backing - although this is expected to happen in time for the government’s 31 March deadline.

But the court ruled the Scottish Parliament and Welsh and Northern Ireland assemblies did not need a say.

Brexit Secretary David Davis promised a parliamentary bill “within days”.

EU under way - would mean overturning existing UK law, so MPs and peers should decide.

But the government argued that, under the Royal Prerogative (powers handed to ministers by the Crown), it could make this move without the need to consult Parliament.

And it said that MPs had voted overwhelmingly to put the issue in the hands of the British people when they backed the calling of last June’s referendum in which UK voters backed Brexit by 51.9% to 48.1%.

What the Supreme Court case was about

Reading out the judgement, Supreme Court President Lord Neuberger said: “By a majority of eight to three, the Supreme Court today rules that the government cannot trigger Article 50 without an act of Parliament authorising it to do so.” He added: “Withdrawal effects a fundamental change by cutting off the source of EU law, as well as changing legal rights.

During the Supreme Court hearing, campaigners argued that denying the UK Parliament a vote was undemocratic and a breach of long-standing constitutional principles.

They said that triggering Article 50 of the Lisbon Treaty - getting formal exit negotiations with the

What the court said

“The UK’s constitutional arrangements require such changes to be clearly authorised

by Parliament.”

The court also rejected, unanimously, arguments that the Scottish Parliament, Welsh Assembly and Northern Ireland Assembly should get to vote on Article 50 before it is triggered.

Lord Neuberger said: “Relations with the EU are a matter for the UK government.”

Government reaction: This will not delay Brexit

Outlining plans to bring in a “straightforward” parliamentary bill on Article 50, Mr Davis told MPs he was “determined” Brexit would go ahead as voted for in last June’s EU membership referendum.

He added: “It’s not about whether the UK should leave the European Union. That decision has already been made by people in the United Kingdom.”

“There can be no turning back,”

he said. “The point of no return was passed on 23 June last year.”

Outside the Supreme Court, Attorney General Jeremy Wright said the government was “disappointed” but would “comply” and do “all that is necessary” to implement the court’s judgement.

A Downing Street spokesman said: “The British people voted to leave the EU, and the government will deliver on their verdict - triggering Article 50, as planned, by the end of March. Today’s ruling does nothing to change that.”

Foreign Secretary Boris Johnson, a leading Leave campaigner, tweeted: “Supreme Court has spoken. Now Parliament must deliver will of the people - we will trigger A50 by end of March.

Forward we go!”

Campaigner Gina Miller gives her reaction

Investment manager Gina Miller, one of the campaigners who brought the case against the government, said Brexit was “the most divisive issue of

a generation”, but added that her victory was “not about politics, but process”.

“I sincerely hope that going forward that people who stand in positions of power and profile are much quicker in condemning those who cross the lines of common decency and mutual respect,” she also said.

Her co-campaigner, hairdresser Deir Tozetti Dos Santos, said: “The court has decided that the rights attaching to our membership of the European Union were given

by Parliament and can only be taken away by Parliament.

“This is a victory for democracy and the rule of law. We should all welcome it.”

What Tory MPs and opposition parties say

Labour leader Jeremy Corbyn said: “Labour respects the result of the referendum and the will of the British people and will not frustrate the process for invoking Article 50.”

But he added that his party would “seek to amend the Article 50 Bill to prevent the Conservatives using Brexit to turn Britain into a bargain basement tax haven off the coast of Europe”.

However, UKIP leader Paul Nuttall warned MPs and peers not to hamper the passage of the legislation.

“The will of the people will be heard, and woe betide those politicians or parties that attempt to block, delay, or in any other way subvert that will,” he said.

The Scottish National Party said it would put forward 50 “serious and substantive” amendments to the government’s parliamentary bill for triggering Article 50.

Among them, it wants Mrs May to set out her negotiating aims in an official document known as a white paper and to consult the Scottish government and other devolved administrations through the UK-wide joint ministerial committee.

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Military Recorded Highest Casualties in 2015, 2016 to Boko Haram, Says FG Releases insurance benefits to deceased soldiers

Paul Obi in Abuja The federal government yesterday gave account of the number of casualties recorded by the military,

stating that 2015 and 2016 had the worst casualty figure in the fight against Boko Haram in the North-east.

The Minister of Defence, Mansur

Alleged N2.9bn Fraud: Former NBC Boss, Mba, Others Get N50m Bail Each Alex Enumah in Abuja The immediate past Director General of the National Broadcasting Commission (NBC), Emeka Mba and three others, facing corruption charges were yesterday granted bail in the sum of N50million each by the Federal High Court sitting in Abuja.

Mba, the Director of Finance and Accounts, Patrick Areh, Basil Udotai and Babatunji Amure were arraigned by the Economic and Financial Crimes Commission (EFCC) on a 15-count amended charge bordering on money laundering.

They were alleged to have diverted the sum of N2.9 billion belonging to the NBC for personal use. When the charges were read to them, they pleaded not guilty.

Prosecution counsel, Ben Ikani, then informed the court of his readiness to commence trial.

Similarly, counsel to Mba, Mr. Sunday Ameh (SAN), and counsel to the other defendants who noted the defence was equally ready for trial, however drew the court’s attention to an application for bail for his client.

Counsel to Areh, Mr. I.F Chude and counsel to Udotai, Mr. Ogbu Onoja, in arguing the bail prayed the court to allow their clients continue on bail based on the terms of the administrative bail that was earlier granted them by the EFCC. Responding, the trial judge,

Justice Gabriel Kolawale, said he was not ready to take arguments for bail and asked both the prosecution and the defence to agree on the bail terms and communicate same to him.

Kolawale said based on their agreement, he was admitting the defendants to bail on the conditions of their previous bail in addition to a N50 million fee for each of the defendant.

He said that Mba was to continue with the two directors who took him on administrative bail just as Areh was to continue with the two sureties that took him on bail at the FCT High Court.

He also ruled that Udotai would continue with the two Federal Civil Servants of level 14 while Amure would continue with the assistant director in the Civil Service who took him on bail at the EFCC. The judge also ordered the defendants to deposit their international passport with the court.

He added that if they failed to perfect their bail conditions within 14 days they would be taken back to EFCC custody and remanded in prison until the conditions are perfected.

According to the judge, the addition of N50 million to the bail conditions was to allay fears raised by the prosecution that the administrative bail granted by the EFCC did not involve landed property.

Ikani had argued that in light

Shittu: We Must Encourage MTN, Not Scare It Away The Minister of Communications, Adebayo Shittu, wants Nigerians to encourage MTN, a telecommunications company, and not scare it away from the country.

Shittu said MTN is important to Nigeria and the presumption is that they are innocent of the latest allegations levelled against the company.

After being fined N330 billion for failing to deactivate more than five million unregistered SIM cards, MTN faces another potential hefty fine if the senate finds evidence that the company illegally transferred $13.9 billion out of Nigeria between 2006 and 2016.

“Nobody will say that MTN is not important to Nigeria - we must encourage them, we must not scare them away from Nigeria,” Shittu told Reuters in an interview.

“The presumption is that they are innocent and we pray they remain innocent. They must stay.”

MTN has said it did not break Nigeria’s currency transfer rules.

Shittu’s comments are similar to those he made when MTN was initially fined $5.2 billion in

2015 — equal to more than two years of its Nigerian profits — for failing to cut off unregistered SIM cards. The fine was reduced last June to 330 billion naira ($1.1 billion).

Nigeria accounts for a third of MTN’s revenue.

The crux of the allegation into illegal money transfers is that MTN did not obtain certificates declaring it had invested foreign currency in Nigeria within a 24-hour deadline stipulated in a 1995 law, and so the repatriation of returns on those investments was illegal.

“They have a right to repatriate their profits as long as it is legitimately done,” said Shittu, adding that any time MTN is suspected of breaking the law, it will be investigated, though the “facts against them must be established beyond reasonable doubt.”

“Everyone who is in business will have ups and downs. You don’t throw away the baby with the bathwater.”

Shittu said the investigation was an issue for financial regulators and did not fall within his “constitutional responsibility.”

Dan-Ali, explained that the ugly development had also helped heightened activities of insurgents and militancy within the period.

The minister observed that the increase in the number of casualties also hiked the life insurance claims paid to the deceased military personnel through their families.

Ali stated this in Abuja during the presentation of cheques of insurance benefits to families of soldiers that died while fighting Boko Haram terrorists in the North-east.

Conversely, the sums of money given to each of the deceased soldiers were not disclosed by the minister, who gave out the cheques to four out of the 218 next of kins

of the affected soldiers present at the occasion.

“The life insurance claims paid over-the-counter years have grown tremendously as a result of heightened activities of the insurgents in the North-east and continued militancy in the Niger Delta especially during the 2015 to 2016 scheme period.

“However, it is gratifying to state that with improved security and overwhelming success in the fight against insurgency, we are hopeful we will record fewer casualties in the years to come,” Ali stated.

The minister said the federal administration, through his ministry would ensure that adequate care was given to

families of military personnel that die while in the service of the nation.

Ali contended: “The Nigerian military remained steadfast in the execution of their duties spread across the various flashpoints across the nation fighting insurgency, militancy, communal clashes and cattle rustling among others all in a bid to ensure the country’s collective security.

“Unfortunately, as with all conflicts, lives have been lost and family units disrupted as their breadwinners pay the ultimate sacrifices in the discharge of their duties,” he stressed.

Speaking in the same vein, Permanent Secretary, Ministry of Defence, Ambassador Danjuma

Sheni stated that the cheques were for the next of kins of “our deceased officers, men and women under the insurance scheme covering 2015 to 2016, covering specifically from Match 24,2015 to Match 24, 2016.”

“In all, a total of 601 deceased insured officers were prepared but 383 next of kins have been fully paid, leaving a balance of 218 deceased officers,” Sheni said.

He pledged that the ministry was doing everything possible to ensure they were fully paid, adding, “I want to appeal for their continued patience and understanding.”

He added that “the Ministry of Defence will continue to ensure transparency and due process in the disbursement of funds that has been given to it.”

ROYAL RECOGNITION

Rivers State Governor, Nyesom Ezenwo Wike (right), receiving a souvenir from the Chairman of Aluu Council of Chiefs, Chief Ken Nwabunwo at the Government House, Port Harcourt....yesterday

Six Dismissed Policemen Stopped Security Agencies from Assassinating Me, Says Wike Ernest Chinwo inPort Harcourt Rivers State Governor, Nyesom Wike, has alleged that the police high command dismissed the six policemen attached to him because they refused to allow the security agencies execute their plot of assassinating him.

Speaking when he received the Aluu Council of Chiefs at the Government House, Port Harcourt yesterday, Wike said there was a detailed plan by the security agencies to assassinate him, but his security details resisted the execution of the evil plot.

He said: “The policemen were dismissed because they did not allow the security agencies to assassinate me as was planned.

“The security agencies planned to assassinate me, but those attached to me resisted the plot and refused to allow them kill me. That is why they are angry and desperate.”

The governor said he would continue to defend the interest of the state, noting that he would never plead with the offending security agencies to stop their illegal activities.

He said: “The fraudulent invasion

of Rivers State” by the security son, Capt Elechi Amadi.

They also commended the agencies during the last rerun elections was a wake-up call for governor for renaming the former the people to be prepared for the Port Harcourt Polytechnic as Elechi rigging of elections in 2016 by the same security agencies.

“The security agencies by their actions on December 10, 2016 Re-run elections alerted us on how they plan to rig the 2019 elections. We are now prepared Ndubuisi Francis in Abuja for them,” Wike said.

He commended the Aluu The Nigeria Customs Service (NCS) Community for cooperating with has stated that the service has not the state government to tackle dismissed any officer besides the cultism in the area. He said the one it undertook last and which peaceful nature of the area has led was duly reported. to improved execution of projects The clarification, the NCS said, for the people. was necessitated “by a misleading The governor said his publication by a section of the administration would continue to media, concerning a supposed develop different communities in dismissal of 59 officers by the line with the pledge to the people. Comptroller General of Customs, He said it is unfortunate Col. Hameed Ibrahim Ali (rtd).” that the immediate past APC The misleading report, according administration in the state to a statement issued by the NCS’ failed to develop communities Acting Public Relations Officer, adjoining Port Harcourt despite Joseph Attah quoted a circular dated the funds available to it.

January 19, 2017, signed by the Earlier, the Chairman of the Acting Comptroller (Discipline).

Aluu Council of Chiefs, Chief “Obviously, the originator of this Ken Nwabunwo, lauded Wike story came across an otherwise for the state burial accorded their internal communication and

Amadi Polytechnic.

The Aluu leaders further thanked the governor for constructing the major road to the area.

No New Dismissal of Officials, Says Customs without verification, went to press with a story that is capable of causing panic, fear with negative consequences on the morale of the workforce,” Attah said The statement noted that sometime last year, “these officers were served with various disciplinary actions ranging from warning, retirement to dismissal for different offences.”

The added that the Public Relations unit then issued a press statement on the development which was widely reported by the print, electronic and online media.

“It is therefore, unfortunate for a reporter to stumble on an internal communication of an organisation and rush to press without seeking for clarification.”

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Northern Governors: Mischievous Elements Aggravating Southern Kaduna Killings John Shiklam in Kaduna Governors of the 19 northern states, under the aegis of Northern States Governors’ Forum (NSGF), yesterday declared that mischievous elements within and outside Kaduna State were aggravating the incessant killings in the southern part of the state.

In a communique issued at their two day meeting which held at the Government House, Kaduna, the governors, while expressing sympathy with the state over the killings, assured that “the crises will soon be a thing of the past, as the Kaduna State Government is on top of the situation.”

In a communique issued at the end of the meeting which lasted until about 6:00 pm on Tuesday, governors said they will unite to collectively tackle the security challenges facing the region.

“Although these are pockets of challenges in some parts of Northern Nigeria, the Forum wishes to put on record the efforts made by the federal government in curbing criminality in the polity.

“Indeed the greatest of our appreciation goes to Mr. President, Commander-in-Chief, President Muhammadu Buhari, for provding the necessary leadership to the country to subdue Boko Haram insurgency and the drive

to rid the country of all forms of vices that bedevil our society,” the communique said.

The communique which was read by the Chairman of the NSGF and governor of Borno State, Alhaji Kashim Shettima, said it was expedient to convene a Joint Extra Ordinary Meeting with Chairmen of the Council of Emirs/Chiefs of the respective northern states to discuss the challenges facing the region.

The forum also accepted the recommendations of the body of the Attorneys General of the 19

Northern States to domesticate the model penal code, model Fiscal Responsibility Law and the model Administration of Criminal Justice Law through the necessary legislative actions, subject to the individual peculiarities of the states in order to ensure transparency, prudent management of public funds as well as smooth dispensation of criminal justice in the region.

The forum also accepted “ far-reaching recommendations of the Chairmen, Northern States Council of Emirs/Chiefs on the current security challenges and

the socio~econoinic problems bedeviling the region” although the recommendations were not made public.

The forum also mandated the governors of Kaduna and Sokoto States to lead in the discussion on power and financial institution respectively and report progress at the next meeting of the forum.

The Forum “extend its condolences to the Government and People of Borno State over the accidental bombing at Rann of Kala-Balge Local Government whereby several lDPs lost their lives

and thanks all those who have commiserated with the families of the victims.

“Similarly, the forum sympathises with the families of victims in Southern Kaduna who lost their lives during the unfortunate incident and assured all and sundry that the crises will soon be a thing of the past, as Kaduna State Government is on top of the situation. “ The forum noted that the crisis is being aggravated by the activities of some mischievous elements within the state and outside the region” the communique said.

Edwin Clark University Takes Delivery of $27m Worth of Books from US Sylvester Idowu in Warri An international books donor organisation, Books for Africa, has donated 22,000 volumes of books, worth $27 million to the Edwin Clark University, Kiagbodo (ECUK) in Burutu Local Government Area of Delta State.

Unveiling the books on the campus of the ECUK in Kiagbodo, during a ceremony on Monday night, the Vice Chancellor of the University, Professor Timothy Olagbemiro, said the donated cache of books was the biggest received by any institution in the whole of Africa.

Olagbemiro, who received the donation on behalf of the Proprietor and Chancellor of the university, Chief Edwin Clark, expressed gratitude to both United States of America-based Books for Africa as well as those who made the donation possible by providing the necessary contacts.

In his welcome address at the unveiling ceremony, Olagbemiro said the organisation donates current books from publishers, authors, individuals and organisations mainly for Africa, adding that his university is now a beneficiary.

“I am very grateful to Tunji Adesesan of Reinhardt University who had earlier facilitated the donation of 7,000 volumes of books from our link partners, his university, Reinhardt University,

Waleska, Georgia, and who, through his goodwill, linked me with Books for Africa.

“We also thank Books for Africa for their resilience, despite the difficulties we encountered with shipment and for their resourcefulness in getting us a donor, who paid $12,000 for the shipment. We are very indebted to Mr. Atare Agbamu for his doggedness and robust assistance,” he said.

Some of the books according to the vice-chancellor would be donated to Delta State University (DELSU) and to members of International Federation of Women Lawyers, (FIDA), Delta State chapter.

Receiving on behalf of the management and staff of the DELSU, the Vice Chancellor, Prof.

Victor Peretomode, expressed gratitude to Edwin Clark University, assuring that the law books that would be given would be highly appreciated and be well untilised.

High point of the ceremony witnessed by the Proprietor, Edwin Clark University, Kiagbodo, Dr. Edwin Clark, former Vice Chancellor of Delta State University, Prof. Ovie Igun, amongst other dignitaries, was the cutting of the tape and unveiling of the books by the Vice Chancellor, Edwin Clark University, Prof. Timothy Olagbemiro.

UAMC Holds Annual Conference in Rep of Benin This year’s annual conference of the United African Methodist Church Organisation (UAMC) will hold in Porto Novo, Republic of Benin from January 29 to January 31 at the Temple Salem Quartier, Kpokomey, Porto Novo.

This is the 76th edition of the conference and the second time it will be holding in the neighbouring country after the first one was held in 1992.

The theme of the conference, according to the Organisation’s Publicity Secretary, Ayo Bada, is ‘the spiritual blessings in Christ Jesus’ (Ephesians 1:3) and over 3,000 members of the organisation from Nigeria and the Republic of Benin

are expected to attend.

Bada, who is also the Assistant General Secretary (Administration), said officers of the organisation from Nigeria would leave Lagos for Porto Novo on January 26, while delegates from Nigeria, led by the organisation’s Lay President Worldwide, Dr. Akinola Ogunlewe, are expected in Porto Novo on January 29.

The conference would end on January 31 with the programme of the women fellowship.

Major highlights of the conference will be the promotion, elevation and consecration of ministers, spiritual breakthrough, anointing, deliverance and Christian film shows, among others.

DEVELOPMENT PARTNERS VISIT THE SENATE

L-R: UN Resident/Humanitarian Coordinator and United Nations Development Programm (UNDP) Resident Representative, Edward Kallon; Head, Resident Coordinator’s Office, Kwasi Amankwah; Senate President, Senator Bukola Saraki; Senate Leader, Senator Ahmed Lawan; Deputy Minority Leader, Senator Emmanuel Bwacha; and Representative UNFPA, Ms. Beatrice Mutali, during a courtesy call by the UNDP Resident Representative to the Senate President in Abuja..... yesterday Julius Ato

JAMB Endorses Harmonised Timetable for UTME Says sales of forms yet to commence Kuni Tyessi in Abuja The Joint Admissions and Matriculation Board (JAMB) has agreed to harmonise its timetable with other examination bodies in the country to have a hitch-free examination ahead of the 2017 Unified Tertiary Matriculation Examination (UTME).

The board at a brainstorming meeting with National Examinations Council (NECO), West African Examinations Council (WAEC) and National Business and Technical Examination (NABTEB) held at the national headquarters of the board in Abuja, unanimously agreed to harmonise the examination timetable because of the candidates desire for qualitative tertiary education.

In a statement released by the board’s Head of Information, Dr. Fabian Benjamin, it stated that the harmonised examination timetable has put to rest problems arising from overlapping of examination dates, which would have disenfranchised a sizeable number of candidates.

“At the end of the brainstorming session, the bodies resolved that WAEC would speak to all its

authorities that from 2018, between March and April, for a window of two weeks be created where all other examinations that have nothing to do with Nigeria will be held so as to allow a window for JAMB to conduct its examination.”

The bodies agreed that for the purpose of the 2017 UTME, JAMB will shift its examinations to allow students face WAEC, NECO and NABTEB. However, a 10-day window for JAMB’S UTME has been created by all examination bodies for JAMB to conduct it’s examination. In view of this, JAMB would soon announce the commencement of sale of the 2017/2018 admission forms for UTME and Direct Entry (DE).

“JAMB emphasises the fact that whoever is presently collecting any money in the name of JAMB form should be reported to the police or any other security agency as fraudster.

“NECO and NABTEB have also adjusted their examination timetables to avoid overlap in subjects that are common to the two examination bodies.”

He revealed that a committee was set up to critically appraise the mandates of WAEC, NECO and

NABTEB, the three examination bodies to make sure that each body sticks to their original mandate and with the possibility of working together in a synergy that they lead to collaborative examination for the purpose of students having results at one sitting rather than separate sittings.

“The essence of the meeting is to continually find solutions to

challenges faced by candidates in the cause of their desire for tertiary education.

“Again, the board is using this opportunity to inform Nigerians that it has not commenced the sales of its application documents. The forms will be out as soon as all critical planning are concluded to ensure a smooth examination in 2017.”

Church Organises Prayers Entertainers The Senior Pastor of Liberation City Church, Dr. Chris Okafor, will host Nigeria entertainers across board in the church’s Sunday service to be held at Liberation City Headquarters9/12 Oshofisan Street, Off Odozi Street, by Ereke Bus Stop, Ojodu-Berger, Lagos State on January 29 from 7a.m to 12noon.

The event which is tagged; ‘Entertaining in Health and Wealth,’ is aimed at the spiritual upliftment of entertainers.

A statement issued by the church said: “Healing

prayers will be offered to all sick entertainers who are either present or represented by family or friends.

All other entertainers will be prophesied to, prayed for, and spiritually fortified for the years ahead. Intervention fund will be raised and committed in cash to offset hospital bills for those already undergoing treatment. All sick entertainers or their relatives should please send their health reports to or contact Ejiro Okurame on 08030519374.”

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Niger Stops Payment of WAEC/ NECO Fees for Non-indigenes Laleye Dipo in Minna The Niger State government may have stopped the payment of the registration fees for nonindigenous students sitting for public examinations in public schools throughout the state.

According to a source close to some of the parents of the affected students, these category of students were verbally directed to pay the appropriate fees through their school heads for onward delivery to the examination bodies.

However according to the source, government will continue to pay the registration fees for Indigenous students.

It was learnt that preparatory to the implementation of the policy, indigene students were given forms to fill while an indemnity had been sent to the examination bodies with regards to the amount the government would pay.

The payment of both the WAEC and NECO registration fees was introduced in 2007 by the

administration of former Governor Muazu Babangida Aliyu to reduce the financial burden on parents.

However at the inception of the present administration Governor Abubakar Sani Bello blaming paucity of funds changed the policy by directing that government would henceforth pay for only one examination for all category of students sitting for the public examination in public schools.

The new government policy has already created confusion among parents of non indigene students in public schools.

Some of the parents had besieged media houses saying “we are caught unawares by this new government policy.”

“Where are we going to get N25,000 to pay these registration fees, government should have given us a long notice to plan.”

One Mr. Vincent Obioma said “ this government wants to destroy the education of our children.”

It was learnt that the registration

Dangote Cement Rewards Distributors with N2.4bn Bonus Crusoe Osagie For their continued loyalty, the management of Dangote Cement Plc, at the weekend gave out a whopping N2.4 billion to its teeming distributors across the country, as their sales bonus for 2017.

The management also promised that a sum of N5billion has been set aside to assist the distributors in enhancing their sales in their different locality for the year 2017.

The excited distributors from all states of the federation including Abuja, received various sums ranging from N182.9 million to N30 million as the Chairman of Dangote Cement Plc, Aliko Dangote, who handed them the cheques, promised that the company would do everything possible to ensure that the brand retains its leadership position in the industry.

The distributors’ award ceremony was in recognition of the cement distributors’ long standing commitment, devotion, loyalty and valuable contribution to the distribution and sale of Dangote Cement in 2017.

Welcoming the distributors and other customers of the company to the award ceremony, Honorary Adviser to Aliko Dangote, Engineer Joe Makoju said the company would forever be thankful to the distributors and all its customers for their loyalty and for making the public see the uniqueness of the Dangote cement brand.

Makoju also said the distributors must have seen that they have not made a mistake for deciding to do business with the company.

He promised that the cement company would continue to show appreciation to them and urged them to strive to sell more Dangote cement this year, with a promise that they would also be rewarded more saying; one good turn deserves another.

While also lauding the efforts of the customers and distributors for ensuring that Dangote Cement remains the most sought-for cement

in the country, Aliko Dangote revealed that Dangote Cement is the undisputed leader in the Nigerian cement market because of the loyalty of distributors and customers despite the increasingly intense competition in the industry.

He said: “Our success story would not have been possible without you, our distributors, who work tirelessly to ensure that the product gets to our customers in every nooks and crannies of the country. We can never thank you enough! You have been an integral and vital part of our business over the years.”

He further said: “We are here to explore ways of further cementing our existing cordial relationship in order to create more value for all stakeholders.

In fact, our ultimate desire is to create a win-win situation for our stakeholders at all levels down the value chain. This is in line with the triple bottom line principle: people, planet and profits, which we have embraced here at the Dangote Group.”

According to him, any organisation that aspires to be ahead of the competition these days, must explore ways of not only knowing the expectations of its customers, but also how to exceed them.

Dangote further revealed that the company has further set aside the sum of N5 billion to support the cement marketing activities and making sales easier for its distributors.

He said, “We will continue to create the right environment for our distributors to sell more in 2017. We will double our effort to serve our customers better with massive trade support for the distributors and other innovations that will ensure we maintain our leadership position in the industry.”

In his vote of thanks, Mr. Oare Ojeikere, Chief Marketing officer of the company also thanked the customers and promise that this year 2017 will surely be a better year for both the company and all its stakeholders.

for students that would write the May - June senior school certificate examination would close this week, while that for NECO would open next month.

All efforts to confirm the veracity of this policy from the Commissioner for Education Hajia Fatima Madugu was abortive When also contacted, the

Commissioner for Information said: “I promise to confirm from my colleague in the ministry of education and get back to you.”

Chief Press Secretary to the

Governor, Jibrin Ndace, when contacted, promised to verify the authenticity of the story and “contact you back” but did not do so at press time.

DANGOTE SPLASH....

L-R Winner of the second Best National Distributor, Ide Chinedu Ezenyili; Chairman, Chinedu and Son Investment Limited; Chairman, Dangote Cement Plc, Aliko Dangote; Best National Distributor, Mrs. Beatrice Okika, MD, D. C. Okika Nigeria Ltd; and Group Managing Director, Dangote Cement Plc, Onne van der Weijde, during the Dangote Cement Dealers Gala Night and Award ceremony in Lagos ...Sunday

Safety is Top Priority in Asaba Airport Upgrade, Says Okowa Omon-Julius Onabu in Asaba Security and safety of users of the Asaba Airport is being given weighted attention in the remoulding work on the airport, the Delta State Governor, Dr Ifeanyi Okowa, has said.

Speaking while inspecting facilities at the airport, which was downgraded in April 2015 by Nigeria’s regulatory authorities, the Federal Civil Aviation Authority (FCAA), Okowa promised that the ongoing upgrade of facilities at the Asaba International Airport would place it at par with the best airports in the country.

The governor was conducted round the facilities by the Chief Executive Officer (CEO) of ULO

Consultants, Chief Uche L. Opkuno, the construction firm handling the airport project.

He said he would have continued to nudge the contracting firm to speed up the work but could not because of the state government’s concern for safety and security in line with global aviation standards.

The governor noted that funding was not a problem or cause of delay of completion of work as adequate loan facility was duly secured for the upgrading of the airport by the state government last year.

“Getting it right is very important,” Okowa noted, saying, “Airport is not about the structure but about the runway; and, we believe that

when completed, the airport will be among the best in the country based on standard.

“They are moving at a good pace. It is not about the speed but getting it right, because if you get the slope or gradient right in the first segment, you will get it right in the second and third segments.”

Although, the governor could not be specific on the date of inauguration of the airport, he said that the contractor had assured that the first phase of the work would be concluded in the next ten days.

According to Okowa: “Funding is not the issue at the moment and I will regularly come here to ensure that the project is delivered in good time and for us to

have about the best airport in the country.”

The contractor, Chief Okpuno, noted that a solid runaway and not the beautiful buildings was what makes a good, functional airport and assured the governor that work would be completed in the first segment (900 metres) of the runway within the next ten days.

He disclosed also that civil work on the Instrument Landing System has been completed, while installation was ongoing, noting that the equipment would greatly improve safety of the airport as it would reduce visibility problem to the barest minimum and allow aircraft to land and take off even when in foggy weather.

BUDGET DEBATE: SENATE WARNS GOVT AGAINST MORTGAGING FUTURE WITH BORROWING the budget include a revenue projection of N4.94 trillion, with N1.98 trillion expected from oil revenue and N1.37 trillion non oil revenue, while expenditure includes N419 billion for statutory transfers, N1.66 trillion for debt servicing, N177 billion to a sinking fund for retirement of maturing bonds, N2.98 trillion to non debt recurring expenditure and N2.24 trillion to capital expenditure.

Gbajabiamila added that the budget deficit for the budget is N2.36 trillion, and to finance the deficit, government proposes to borrow N1.06 trillion from external sources and N1.25 domestic borrowing.

“Prior to this time, capital

allocation in our yearly budget was way below 30 percent and now this administration has raised it to over 30 per cent.

Before now, budget performance has been about 30 per cent but somehow with little resources available, this administration hovers around the mid 50s range in terms of budget performance,” he said.

Gbajabiamila added that while the administration targets better budget performance, it has been able to achieve the current rate by blocking leakages, broadening tax base and collection, and eliminated ghost workers.

While Nigeria has been hit by recession like several oil producing countries, the N7.3

trillion budget is intended to reboot the economy with a massive dose of capital injection and payment of local debts to contractors to stimulate and reflate the economy, Gbajabiamila said.

Several lawmakers simply praised the budget proposal but a few argued against it.

Hon. Ossai Nicholas Ossai (Delta PDP) argued that the exchange rate of N305 to the dollar is unrealistic, going by MTEF. Backed by Speaker Yakubu Dogara, Gbajabiamila raised a point of order to the effect that MTEF has already been passed.

Hon. Mark Terseer Gbillah (Benue APC) however also

argued that the exact exchange rate remains undetermined.

“We have a monetary committee that seems to hold us to ransom,” he said.

The lawmaker also noted that the Internally Generated Revenue (IGR) should be critically considered as the expected revenue from some agencies have not been captured in the budget.

He cited one of the agencies as Niger Delta Power Holding Company.

Hon. Abdulrazak Namdas (Adamawa APC) said the restiveness in the Niger Delta region makes the daily production projection unrealistic.

WEDNESDAY JANUARY 25, 2017 • T H I S D AY

47

NEWSEXTRA

Court Asked to Void Ali’s Appointment as Comptroller General of Customs Tobi Soniyi in Abuja A Federal High Court in Abuja has been asked to void the appointment of retired army Colonel Hameed Ibrahim Ali as Comptroller General (CG) of the Nigeria Customs Service.

The plaintiff, Mr. Ifeanyichukwu Okonkwo, an importer of goods and services based in Onitsha, Anambra State is asking the court to reverse Ali’s appointment on the grounds that it violated sections 5, 147, 148, 151 and 171 of the 1999 Constitution as amended.

He joined President Muhammadu Buhari and the Minister for Finance, Mrs. Kemi

Adeosun, as defendants.

Other defendants in the suit are the Minister of Finance, NCS and Col. Hameed Ibrahim Ali (rtd) as 2nd, 3rd and 4th defendants respectively.

He is also praying the court to issue an order stopping the Minister of Finance and the NCS from recognising or further recognising the ex army chief as the chief executive of the custom.

Plaintiff further prayed the court to issue another order restraining Ali from holding himself out or further parading himself as the Comptroller General of the Customs.

In the suit with No FHC/ABJ/ CS/813/2015, Okonkwo is asking

First Eko Art Expo Debuts in Lagos Lagos is set to witness the first Rasheed Gbadamosi Eko Art Expo on Friday, January 27 at Eko Hotel and Suites, Victoria Island.

This was disclosed at a press briefing held at Terra Kulture where the Lagos State Commissioner for Information and Strategy, Mr. Steve Ayorinde, revealed that this three-day exhibition is named in honour of the late art patron who has left indelible marks on Nigeria’s cultural landscape.

The exhibition, which is organised by the state government will be curated by the owner, Mydrim Gallery, Mrs. Sinmidele Adesanya alongside the Director of African Artists’ Foundation, Azu Nwagbogu who will curate the photographic component of the expo.

The show which features 400 artworks and photographs will be declared open by the state

Governor, Akinwunmi Ambode alongside the Nobel Laureate and Chairman, Lagos at 50 planning committee, Prof.

Wole Soyinka.

According to Ayorinde, the exhibition will be curated along three segments: the photographic part, which is a recreation of the works of several Nigerian artists that were exhibited at the Centre for Fine Arts in Brussels, Belgium (Bozar) where Governor Ambode was a special guest in 2016. One hundred photographic artworks from that Bozar exhibition showing different aspects of Lagos under the theme, “Dey Your Lane’’ will be on display at the Eko Art Expo.

The commissioner also revealed that the expo is part of the activities leading up to the Lagos at 50 celebrations which started in May 2016.

New London Estate Residents Petition Ikeja Electric over Poor Power Supply Residents of the New London Estate in Baruwa, Ipaja Ayobo LCDA of Lagos State have petitioned Ikeja Electric authorities to respond to the various power supply matters facing the community or be ready for any radical action it may resort to.

In the petition dated December 22, 2016 submitted to the office of the Managing Director of Ikeja Electric signed by the Chairman and Secretary of the New London Community Development Association (NLCDA), Messrs Emmanuel C. Nzekwe and Biodun Adeniran respectively, the body drew the attention of the chief executive to the untoward manner with whichofficialsoftheelectriccompanyhave been handling its affairs.

Apartfromirregularsupplyofelectricity to the community, NLCDAinsisted that for over one year, the 500 KVA power transformer bought through individual contributionsofresidentssinceDecember28, 2015and with permission of the Ipaja sub-station and Planning Department of Ikeja Electric remains a mere ‘sight’ where it has been installed.

“Having been able to purchase a 500 KVA power transformer with your permission through individual contributions of residents since 28thDecember, 2015 and having met all conditions aimed at frustrating

attempts at energising same, no efforts have been made by your Network Planning Department to offer any convincing respite.

“You may wish to find out from your officials why the delay of over one year for the said brand new transformer to come on stream.

“Because of the lack of response from your officials to energise it, we want to bring to your notice that the said transformer was vandalized and certain parts were pilfered by unknown persons under the power of darkness.

We tearfully tasked ourselves to replace those stolen items with attendant fears that if nothing is done now to energise it there is a possibility of a repetition of the action of the wicked,” stressed the community’s chairman and scribe.

NLCDA insisted further in the petition to the Ikeja Electric that the only two transformer in the community now-300 and 500 KVA, were no longer adequate to bear the enegy requirement of the over 1,500 houses within the estate.

The petition said a survey team from previous PHCN and Ikeja Electric had recommended that the community needs a minimum of six 500 KVA transformers to be able to enjoy regular power supply.

the court to interpret sections 5, 147, 148, 151 an 171 of the 1999 Constitution and the Custom and Excise Management Act Cap 45 Volume 4 and the scheme of service for customs service as they affect the appointment of Comptroller General for the NCS. Specifically, plaintiff seeks court’s declaration that the president, under the community reading of all known relevant laws, has no power to have appointed Col. Ali (rtd) as the Customs Chief in August, 2015.

Plaintiff also seeks among others: A declaration that the appointment Ali as the CG of the customs is not supported by any iota of law, and a clear violation of the Public Service Rules. *A declaration that there is no enabling law made by the National Assembly as the authority for the appointment of Ali as the new CG, NCS, his appointment by the President is unconstitutional, null and void. *A declaration that the purported

press release by Mr. Femi Adesina an aide of President Muhammadu Buhari is without due regard to civil service rules, but a public relations affairs.

He said Mr. Femi Adesina, is an imposter not being the Minister of Finance of the federal government. *A declaration that an appointment to the office of CG of the NCS shall not be made except with the recommendation of the Minister of Finance, and among Deputy Comptroller Generals, Assistant Comptroller Generals and or Controllers, in the NCS. *A declaration that Ali, a retired Colonel in the Nigerian Army is above sixty (60) years of age, a pensioner is not eligible for appointment into the federal civil service regarding the NCS. In his statement of claim, plaintiff claimed to be a major importer, tax payer and anticorruption activist whose business transactions are being hindered by the alleged unlawful, illegal and un-constitutional appointment of

the ex army chief into the office of the customs CG. Plaintiff asserted that Ali lacked the training and technical knowhow on the statutory functions of the customs to which he was illegally and un-constitutionally appointed to head as the CG. Besides, plaintiff claimed that the unlawful appointment by the President has destroyed the career of many high ranking well trained customs officers and that the action has posed a great danger to professionalism in the customs service.

He also asserted that as at August 27, 2015 when the purported appointment was made, there was no Minister of Finance in place and as such, the president could not have acted on the recommendation of the minister as stipulated by law.

Plaintiff insisted that Ali by operations of the Public Rules cannot be appointed into the service of the customs without due compliance with the said rule,

having not being a public officer.

He averred that his overseas business partners have indicated that they would no longer ship goods for him into the country because of the appointment of a non career and untrained person as customs boss so as not to be associated with illegality.

Besides, the plaintiff further explained that the World Customs Organisation is contemplating boycott of the Nigerian Ports and that he would be cut off from clearing and importation business unless the court intervenes in the alleged unlawful appointment.

He therefore asked the court to hold that the purported appointment of a retired army officer without any iota of training in any sector of the NCS is illegal, un-constitutional and a clear violation of the NCS Public Service Rules.

Meanwhile the matter has been adjourned to February 14 for hearing by Justice Nnamdi Dimgba.

PREPARING FOR AGM

L-R: Vice-Chairman and President, Diageo Africa, Mr. John O’Keffe; Chairman, Guinness Nigeria Plc, Mr. Babatunde Savage, Managing Director/CEO, Mr. Peter Ndegwa; and Non Executive Director, Mr. Bismark Rewane, at the extraordinary general meeting of the company in Lagos ....yesterday

Ebonyi: Umahi Assents Electoral Bill, Paves the Way for LG Polls The Ebonyi State Governor, David Umahi, has signed the Ebonyi State Electoral and Related Matters Bill into law.

While signing the bill at the Government House in Abakaliki, Umahi explained that the new law which came into force by 1.40p.m on January 20, 2017, was necessary following the nullification of the old law of queuing behind candidates at the Federal High Court and the withdrawal of the appeal filed against the ruling.

Umahi said: “You will recall that the last administration had local government election and the elected persons were functioning until somebody took the outcome to court.

The court ruled that the law was improper. I think it was an open ballot system.

The House of Assembly then appealed the ruling but the executive accepted it and dissolved the councils.

The assembly however appealed and there is no way you can do another local government election if that matter is still pending in the court of appeal.”

The governor pointed out that the new law would enthrone full democracy in the LGAs as representatives in party primaries would be the wish of the people.

The governor, in a statement on Friday by his spokesman, Emma Anya, also stated that the law had empowered the Ebonyi State Independent Electoral Commission (EBSIEC) to commence the process of conducting local government elections.

“With this new law, the ball is now with EBSIEC to blow the whistle for the political parties to start political activities in our local governments and the thinking of party leadership is that we teach the world, example of what democracy is by making sure that our party primaries are based on the people.”

While Umahi mentioned the Speaker and the national vice chairman of PDP as observers of the primaries, he encouraged them to convene stakeholders meeting in each local government to ensure that only aspirants capable of winning would be chosen to stand for the chairmanship and councillorship elections.

He said “Whoever the people want should be the person that will go for us. I believe that the party leadership, especially working committee members and I say speaker and the national vice chairman should become observers.

“They should convey meetings of stakeholders of local governments to hear about the situation on the ground and the wishes of the people as regards the chairmanship and then the councillorship aspirants.

“It is important to know that whoever is coming on board will

be somebody who will be able to win election.”

Umahi also announced that the bills on contributory pension scheme as well as the National Health Insurance Scheme (NIHS) would be sent to the House of assembly for passage into law.

He emphasised that the circular for the implementation of the latter would not be effective until February when the bill would have been passed.

He directed Deputy Governor Eric Kelechi Igwe to constitute a committee to monitor constituency projects to ensure that jobs were executed according to specifications.

Umahi said: “A lot of our projects are not being watered and we don’t want to hide any sickness. When you’re in your official functions and you catch such contractors, you can sack them on site.

“And when you find anybody using hand to mix concrete you send the person to sanction the person.”

WEDNESDAY JANUARY 25, 2017 • T H I S D AY

48

CRIME&PUNISHMENT

Soldiers Kill Two Suspected Militants in Bayelsa Family of slain boat driver says deceased not criminal

Emmanuel Addeh in Yenagoa Soldiers attached to the Joint Task Force, Operation Delta Safe, yesterday said at least two suspected militants were killed during a shootout near Obama Flow Station, in Nembe Local Government Area of Bayelsa State.

The security forces fighting militancy and other criminalities in the Niger Delta region said they raided the militant camp after they were tipped-off by a vigilance group and local residents in the area.

One of those involved in the encounter, the military said, was a “notorious” militant leader, identified simply as Labista, who it said had been in the watch list of security operatives for crimes ranging from kidnapping to the murder of soldiers in the creeks.

A statement by Lt Col Olaolu Daudu, Coordinator of the Joint Media Campaign Centre in Igbogene, Yenagoa, Bayelsa State, disclosed that the suspects dived into the river , following the exchange of gunfire and their bodies were later seen floating on top of the waters in the creeks.

“One of the suspects, a notorious leader of criminals, popularly known as Labista who is on security agencies watch list, had at various times engaged in high profile kidnapping, killing of security personnel in ambush, piracy, robbery and other criminal activities.

“Labista and his cohorts dived into the river in a bid to escape while the raid was ongoing and were engaged by own troops.

At the end of the operation, the bodies of two notorious criminals

were seen floating on the water.

They have been deposited at the government morgue,” Daudu said.

He added that two single-barrel guns, cutlasses and four speed boats were recovered from the suspected criminals and assured of the JTF’s commitment to ridding the region of those he said were in the habit of breaching critical infrastructure in the oil-rich area.

But just as the soldiers were celebrating their latest breakthrough, the family of a boat driver who was killed in a shooting by suspected operatives of the JTF yesterday demanded justice for their son, insisting that the deceased was not a criminal.

Mr. Boluozimo Tulagha, 39, died last week from three gunshots allegedly fired by soldiers at the waterfront of Polaku community in Yenagoa.

While expressing anger over the death of the man, the family noted that the deceased had plied his trade in Polaku and environs for more than seven years before he was shot dead.

However, some community sources in the know claimed that the deceased Boluozimo was contracted by a gang of hoodlums to help them ferry vegetables from Polaku to Odi in Kolokuma/Opokuma Local Government, unknown to him that some weapons were concealed therein.

The soldiers attached to the JTF, acting on a tip-off, were said to have laid an ambush for the boat, opened fire and killed the boat driver.

During a protest in Yenagoa, father of the dead boat operator, Rev. E.D. Tulagha, a former school Principal, now a cleric, claimed that his son was neither armed nor was he a

Agatu Militia Abducts Hausa Chief in Kogi Yekini Jimoh in Lokoja The Agatu militiamen from Benue State yesterday adducted Alhaji Audi Musa the Serikin Hausa Bagana in Omala Local Government Area of Kogi State.

The chief of Hausa who is known for his peaceful disposition, was abducted yesterday night in his family house.

Sources disclosed to THISDAY that he was abducted when the hoodlums numbering over 20 stormed Bagana town, shooting sporadically before abducting the Hausa chief after dragging him on the road for half an hour before he was whisked to an unknown destination.

According to a source who crave anonymity, “ We were taken by surprise as it was late in the night when the gunmen, who came in through the Benue State axis, were armed with sophisticated weapons such as AK47 stormed the community.

“They went straight to Alhaji Audi Musa, tied him to their motorbike and dragged him on a long distance before escaping through the foot path.

“As am talking to you, his whereabouts are not known and the entire town is now a ghost of itself as people are parking in drove to avoid being cut in reprisal,” the

source said.

Bagana , a riverine town in Omala, has witnessed wanton destruction of lives and property by the warring Agatu militias and Fulani herdmen who used the town as test ground to launch attack on each order.

The source noted that since 2013 that the fight broke out between Agatu and Fulani in Benue State, the Agatus that escaped to Bagana in Kogi State for refuge made the people of Omala to live in fears as the violent clashes have become a recurrent decimal in the community.

He added that in 2014, the town was reduced to rubbles as the fight led to the burning of the town while several lives were lost.

He stressing that the people have barely started coming back to rebuild their property before current abduction of the man believed to be the rallying point of Hausa indigenes in the town.

The source stated that the town would not know peace with the two chiefs .

Confirming the incident, the Police Public Relation Officer, Mr. Williams Aya. said they have drafted fully armed policemen to the village to restore confidence while search has been intensified for his rescue.

criminal. ‘’Boluozimo went into the boat in order to warm the engine. The security men appeared with guns and shot Boluozimo’s leg. ‘’He then shouted with lifted hands and said he was only a driver; who didn’t know anything about the rest. He pleaded that they should not kill him. ‘’Then the operatives lodged another gunshot on the side of his shoulder. He was still shouting and crying, ‘Don’t kill me, I am ignorant of anything they are doing.’ ‘’The security operatives, in the process gave the third gunshot into his bowels and Boluozimo

died right in the spot without mercy,” the octogenarian father of the deceased said. A younger brother of the deceased, Dr. Charles Tulagha, described the killing of Boluozimo as callous and wicked.

Charles, a medical doctor at the Federal Medical Centre, Yenagoa, said, ‘’we want to clear the air that Boluozimo was a cultist or militant. The Boluozimo that I know as a brother was far from all the allegations levelled against him. ‘’He was tagged militant by the security agents. My brother was just a driver, he was not a militant or a criminal. He had been doing the business for over seven years.

That was his business.

“He did not even drink, he did not smoke, he was innocent . I believe that killing him after he raised his hand to prove his innocence was preposterous, callous and unthinkable of the security agents. ‘’We are appealing for justice to be done. We want the government to bring the perpetrators to justice’’, he said Reacting, Lt Col Daudu said the incident was a case of illegal arms dealing, adding that two persons had been arrested in connection with the matter. ‘’We have two of them in our net. So, I wouldn’t know what they

were protesting for, neither would I want to respond to their protest because I see it as an attempt to cause diversion and distraction.

“These are very serious security matters which as investigations are ongoing, we may not want to divulge too much so that it will not jeopardise the ongoing investigation. ‘’However, I want to believe that with the facts on ground, and what they (family) themselves have stated, they are heavily indicted. This matter is a highly sensitive security issue that cannot be handled in any lackadaisical manner”, the JMCC Coordinator said.

SAVE OUR JOBS

Staff of Nichemtex Textile and Costsyn Industries Ikorodu leading members of the Trade Union Congress (TUC) and Nigerian Labour Congress (NLC) to block the main entrance of Ikeja Disco, Alausa to press home for their demand for the reconnections of their factories in Alausa Ikeja Lagos....yesterday Kola Olasupo

Kidnapping Has Reduced in Delta, Says Okowa Delta State Governor, Senator Dr. Ifeanyi Okowa, has said kidnapping activities have reduced as a result of an onslaught on kidnappers’ dens by security operatives.

Okowa made the disclosure yesterday in Asaba when the Principal, Petroleum Training Institute (PTI), Effurun, Prof. Sunny Iyuke led top management of the institution to pay him a courtesy visit.

While decrying situation where most of the arrested kidnappers “are young men and are not from the southern part of the country,” the governor expressed joy that

kidnapping activities have greatly reduced in the state.

He called for vigilance among the people, assuring that following the signing into law of the Delta State Anti-Cultism and Anti-Terrorism Bill 2016, “the judiciary has been very proactive, six special courts have been set up to try those who were arrested for kidnapping and acts of terrorism and we are confident that issues of kidnapping and related offences would be a thing of the past in our state in the nearest future to encourage socio-economic life of the people.”

Governor Okowa also, assured

the management of PTI of his administration’s continual assistance to federal government’s institutions, stating that apart from giving attention to federal road projects that have failed, the Chief Job Creation Officer in the state would liaise with the PTI for some beneficiaries of his administration’s different skill acquisition programmes to utilise the institute’s facilities.

He disclosed that more than 4000 youths have been trained in the different skill acquisition programmes which were designed to train, equip and mentor the

beneficiaries to enable them succeed in their chosen fields.

On the issue of Delta Glass Company and the Asaba Textile Mill, Okowa disclosed that there were challenges as it concerned receivership of the companies which his administration was working on in the overall best interests of Deltans.

Iyuke had in an address, listed out areas the PTI could partner with the Delta State government and also, lauded Governor Okowa’s administration on its “developmental effort in the state.”

Witness: Omenyi Received N136m Bribe from NAF Contractors A Federal High Court in Abuja presided over by Justice Nnamdi Dimgba was on Monday told how a former Managing Director of Aeronautical Engineering and Technical Services Limited (AETSL), a company owned by the Nigeria Air Force, Air Vice Marshal Tony Omenyi, received over one N136 million Naira kick back from Syrius Technologies and Sky Experts Limited - two contractors of the Nigeria Air Force.

Omenyi is standing trial before the court on a three-count charge bordering on abuse of office and money laundering to the tune of

N136.325.000.

He pleaded not guilty to the charge. At the resumed trial last Monday, the EFCC called its first witness (PW1) Hassan Saidu, a Principal Detective with the commission, who was led in evidence by the prosecuting counsel, M.S. Abubakar Saidu informed the court that the investigation of the defendants by the EFCC was triggered by a letter from the Office of the National Security Adviser (ONSA) dated December 9, 2015 alleging that the defendant was operating suspicious accounts.

When the prosecutor sought to

tender the letter in evidence, the defendant’s counsel, Gordy Uche (SAN) objected on the grounds that the letter was supposed to have been certified by the ONSA and not by EFCC. Abubakar countered the argument by citing Section 104(I) of the Evidence Act, 2011 which states that it is the public officer in custody of a document that should certify it. Thus, in the case at hand the EFCC was the proper agency to certify the document.

Thecourtagreedwiththeargument of the prosecution and admitted the document in evidence.

Continuing with his evidence, Saidu stated: “In January, 2014 the contractors were paid the sum of over N202 million and they in turn paid the sum of N24.8 million to the defendant’s company. While in April, 2014 the contractors were paid the sum of about N690 million and transferred the sum of N61.5 million out of it to the defendant’s company, HUZEE Nigeria Limited. Finally on 18th November, 2014 the contractor paid the sum of N50 Million to Air Vice Marshal Omenyi’s company after receiving about N556 million from the Nigerian Air Force.”

49

WEDNESDAY JANUARY 25, 2017 • T H I S D AY

CRIME&PUNISHMENT

FG Destroys N9.6bn Fake Pharmaceutical Products in Rivers Health Minister inaugurates NAFDAC office

Ernest Chinwo in Port Harcour The Federal Government yesterday destroyed fake pharmaceutical products worth N9.6 billion, that were jointly seized by the National Agency for Food, Drug Administration and Control (NAFDAC) and the Nigerian Customs Service (NCS).

The products were contained in 11 out of 21 containers seized by the agencies.

Speaking at a brief ceremony before the destruction of the fake pharmaceutical products at Government Dump-Site, Igwuruta, near Port Harcourt, the Minister of Health, Profess Isaac Adewale, said the fight against fake and substandard food and pharmaceutical products in the country is part of the anti-corruption crusade of the administration of President Muhammadu Buhari.

Adewale said, “Today is very significant in the annals of our history. When Mr. President came on board, he came on board with a very focussed programme.

Number one on his agenda is to tackle corruption. But many of us, when we discuss corruption, we discuss monetary inducement and

thievery of funds.

“Nothing destroys this nation more than the importation, distribution and consumption of these types of bad products that do not have credible NAFDAC number. Some of them have NAFDAC number but I am told they are fake. What is important is that we are keying into this war against corruption.

“One cannot but agree with the submission of His Excellency, the Deputy Governor of Anambra State that the manufacture and distribution of substandard falsified products is the worst of the all the crimes one can commit against humanity.”

He challenged NAFDAC, NCS and other agencies of government to rise up to the task of protecting the people from harmful products.

“So, your job is to protect and safeguard the health of our people and it is important.

There are documents that show that those who profit from this business are causing us significant harm. The volume of trade has so far surpassed that of heroin and cocaine. So, it is a significant volume of business

which we must all stamp out,” he said.

Earlier in her speech, the acting Director General of NAFDAC, Mrs. Yetunde Oni, said a total of 21 containers were seized in the joint operation with the Nigerian Customs Service, adding that 11 containers contained fake pharmaceutical products while the other 10, which were still kept at the Government Ware House in

Port Harcourt, contained expired bread improvers.

Oni stated that fake pharmaceutical products found in the 11 containers include Tramadol, Diclofenol, Diarrestof, Labisnol and Diclofolk.

The Minister of Health, Profess Isaac Adewale, earlier in the day inaugurated the zonal office of NAFDAC in Port Harcourt, with a pledge that the President Muhammadu Buhari-led

administration would complete all abandoned projects in the country.

Speaking at the inauguration, Adewale said, “I think what is important that we are celebrating is the commitment of NAFDAC to get work done. I want to thank the leadership for getting this completed. A major commitment of the current administration is to complete abandoned projects all over the country.

“If you decide to take a closer

scrutiny at many of the contracts that we have awarded at Federal Executive Council meeting, projects that were initiated as far back as 2007 but abandoned.

“So, this job is in keeping with the philosophy of this administration that we will not leave any project abandoned.

Our prime task is to complete all abandoned projects. I want to thank NAFDAC for queuing into the vision of this administration.”

Obaseki Commends NSCDC for Preventing Pipeline Vandalism Adibe Emenyonu in Benin City Governor of Edo state, Mr Godwin Obaseki has commended the Nigerian Security and Civil Defence Corps, (NSCDC) for their role in the protection against pipeline vandalism.

Governor Obaseki who assured NSCDC of his administration support in the discharge of their duties in the state said, “I am proud of your activities”.

Obaseki gave this assurance when he received a delegation of senior officers from zone G, led by its Zonal Commander, Assistant Commander, Bassey O. Bassey at Government House in Benin on Tuesday.

The governor informed the team that the Corps would be incorporated in the state’s design for local policing for effective security network at the grass root level.

He said that the idea was borne out of the fact that some of the state assets were located in those areas and needed adequate security.

He said that the state would support the Corps and would assist in getting a better accommodation for its state and Zonal offices.

“We are trying to manage the affairs of the state considering the recession and the little allocation we get from the Federal Government.

“The Federal government is suppose to provide the necessary platform for you to work while we support.

“We will try to support you to the best of our capacity” the governor assured.

Earlier, the new Zonal Commander of NSCDC, Zone

G Mr Bassey Bassey commended the governor for integrating the Corps into the security structure of the state.

Bassey, while assuring the governor of the Corps cooperation appealed for security vehicles and office accommodation for both its state and zonal offices.

In another development, the governor commended the the Federal Radio Corporation of Nigeria, in Benin for fair reportage.

The governor gave this commended when the Zonal Manager of FRCN and other top management staff paid a courtesy visit to Government House.

The governor said that the medium had been able to maintain a high level of professionalism despite fallen standards in the sector.

He also commended FRCN for giving him good coverage and for being non partisan during the 2016 Edo Governorship polls.

He said that his administration had commenced reforms in the agricultural and social sectors adding that the coverage of the medium would be worthwhile.

In her remarks, the Zonal Manager of FRCN, Benin, Mrs Bimbo Oyetunde, commended the governor on his victory at the 2016 Edo governorship election.

She said that the medium was committed to giving the public fair reports and abreast them with government policies and programmes.

She said that the medium was willing to inform citizens of Edo on the laudable projects being executed by the Obaseki-led administration.

CAUGHT IN THE ACT

Some suspected cultists paraded by the police in Ibadan... recently

Kidnappers in Military Camouflage Storm Epe Farm, Kidnap NYSC Member, Three Others Chiemelie Ezeobi A 10-man gang of kidnappers kitted in military camouflage were said to have at weekend stormed a farmland at the Epe axis of Lagos State and abducted a National Youth Service Corps (NYSC) returnee, Ifeoluwa Olabiyi, and three other men.

This is coming on the heels of the abduction of three female students and six members of staff of Nigeria Tulip International College (NTIC), Ogun State, recentl The armed kidnappers were said to have stormed the Tanda farm and after shooting

sporadically in the air to scare of any rescue attempt, made away with four persons.

Already, the kidnappers were said have asked for a ransom of N5million each, making it a total of N20million for all four persons.

According to sources, the farmland was the same one the kidnappers had struck sometime last year and abducted some farmers.

The source said: “This time around, they had come from the creeks and entered the farm. They were heavily armed, so no one could resist them.

“They left with three farmers

and the NYSC returnee, who had finished her service year and was employed at the farm.

“Note that she has always been a worker at the farm but left for service. She was employed at the farm about two weeks ago. She is a graduate of Ladoke Akintola University, Ogbomosho, Oyo State.

“Already he fiancé is distraught and alarmed at the whopping sum demanded as ransom by kidnappers, as he has no idea how to raise it.”

However, the Commissioner of Police, Lagos State Police Command, Fatai Owoseni, who debunked the news, said

he personally visited the supposed scene of kidnapping.

He said he had gone alongside his men for a confidence patrol in that area and had even visited some companies to assure them of safety.

Meanwhile, another police source who was on the CP’s entourage, who could neither debunk nor confirm the report, said it might have happened in Ogun State and not Lagos.

But the Ogun State Police Command has since debunked that any form of kidnapping happened in their terrain except that of the NTIC.

FCTA Prosecutes 89 Commercial Sex Workers Olawale Ajimotokan in Abuja

yesterday that the task team had prosecuted prostitutes and handed them to the Social Development The Joint Task Team for the Secretariat for rehabilitation to enable Cleansing of Abuja City has arrested them learn useful skills.

Bodinga said there was a 89 commercial sex workers, for substantive order against the constituting public nuisance.

The task team was recently activities of commercial sex workers reconstituted by the Minister of in the federal capital territory.

He also said team impounded the Federal Capital Territory (FCT), Malam Muhammad Musa Bello. 114 unpainted taxis within the first The Acting Director of the FCT one week of its operations. Bodinga Directorate of Road Traffic Services, disclosed that 104 Keke Napep Mr. Wadata Aliyu Bodinga, said (Tricycles) were also impounded

and riders prosecuted at the Mobile Courts during the same period.

He disclosed that during the one-week operation of the Task Team, eight commercial Motorcycles (Okada) were impounded and noted that in the subsequent weeks special attention would be given to impounding and arrest of Okada.

According to him, the Task Team would hit the Okada riders from all angles from the Airport road, Gishiri village, Wuye, AYA and Asokoro area; warning that all

those arrested would face instant prosecution.

The Director, however, urged the residents of the Federal Capital Territory to assist the FCT Administration by not patronising the unpainted taxis, Keke Napep, Okadas as well as the commercial sex workers.

He warned that their existence have security implications because they are veritable channels being used by the criminals which is in nobody’s interest.

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HURIWA: Buhari Should End Illegal Siege on Judiciary by Confirming Onoghen as CJN Adedayo Akinwale in Abuja After more than two months in acting capacity, the Human Rights Writers Association of Nigeria (HURIWA), yesterday called on President Muhammadu Buhari to end the illegal siege on the Judiciary by immediately sending the name of Justice Walter

Onoghen to the Senate for confirmation as substantive Chief Justice of Nigeria (CJN).

The rights group warned that the illegal substitution of Onoghen would further polarise the nation along ethnic lines.

The National Coordinator of the group, Emmanuel Onwubiko made the call

CSOs: Why We Endorsed Ayade as Man of theYear A coalition of over 50 civil society organisations under the umbrella of the Civil Society National Lectures and Awards (CISNALA) has justified its conferment of the man of the year award on Cross River State governor, Senator Ben Ayade, on account of “his recorded milestone in good governance, democracy dividends, people oriented policies and programmes, transparency and accountability, as well as infrastructure and human capital development.”

The latest award as the CSO Man of the year by the coalition of the nation’s civil society organisations is coming on the heels of similar recognitions by three of Nigeria’s frontline newspapers, Vanguard, Business Hallmark and the Authority newspapers respectively.

In a joint statement issued on behalf of CISNALA, Innocent Ebirim Okadigbo, Convener of CISNALA and National Coordinator of COCMEP; Malam Umar Farouk, Convener, Transparency Centre Network,

among others, the group said the exercise, which the governor had no inkling of and leading to his eventual “emergence as the CSO Man of the Year, was a product of a keenly contested and due process compliant selection system.”

The statement further noted that the award would soon be conferred on governor Ayade in Abuja, on a date yet to be announced.

According to CISNALA, other considerations for the conferment of the award on the governor include “his strident green life advocacy, construction of the largest garment factory in Africa, construction of multi-million dollar rice city project, completion of Calabar International Convention Centre, prompt and regular payment of workers’ salaries, ongoing construction of his signature projects, namely, the Bakassi Deep Seaport and 260 km Digital Superhighway, among others.”

at a press conference in Abuja, where he stressed that Nigeria should be run equitably, alleging that the game plan was gradually being unfolded in the Judiciary to appoint a northerner as the CJN According to him: “as it is now, the failure of President Buhari to respect the recommendation of Justice Onoghen as CJN in a substantive way as made by the National Judicial Council (NJC) since two months ago shows a clear Northern regional agenda to circumvent the long existing hierarchical mapping of the Judiciary in Nigeria just so a puppet, stooge and boot licker of the executive can be picked to do the political dirty

job of the current presidency.”

He warned that, “the illegal substitution of Onoghen to achieve political agenda by the political powers-that-be dominated by former local leaders of Arewa Consultative Assembly will further polarize the country along ethno-religious fault lines and this sinister project will in a very serious way injure the integrity and constitutional standing of the Judiciary.”

Onwubiko noted: “the deliberate delay in submitting the name of the next in line in the succession plan of the NJC has given rise to wild speculations that just like how President Buhari

single handedly gave all the top defence positions to Hausa/ Fulani Northern Muslims, that there is a sinister plot to bypass Justice Onoghen for a Northerner from Bauchi State” “If this is carried out as speculated therefore the integrity, respectability, status and global judicial purification role of the Court System would have been politically tainted and contaminated.

“We are in the know that there is indeed serious efforts from Northern hawks to alter the seniority rule that should automatically make the most senior Justice of the Supreme Court of Nigeria the substantive CJN. “Why for the first time in

over 30 years did the President fail to submit the name to Senate for confirmation as substantive CJN as was constitutionally recommended by the rightful authority- NJC?,”he queried Onwuibiko, lamenting that Onoghen’s confirmation occasioned by taciturn action of Buhari was weakening the integrity of the court system.

He said Section 6 of the Constitution is specific on the role of the Court system in the smooth running of constitutional democracy and if by political design the hierarchy of the Court system is unduly politicised then the public standing of the Judiciary is put on the spots.

My Bakassi People are Still Suffering, Ita Giwa Cries out to Buhari Former Presidential Adviser on National Assembly Matters and the Political Leader of the Bakassi people, Senator Florence Ita Giwa, has hailed the visit of the Senate Committee on State and Local Government Affairs to Bakassi, led by Senator Abdullahi Gumel but argued that Bakassi is not only about Ikang but about the over 3000 refugees living in Dayspring Island where they were duly registered by INEC and where they voted.

According to Ita Giwa, the Bakassi rehabilitation she has been clamouring for is the Dayspring Island where the Independent National Electoral Commission registered them and where they voted for the President, their governor and other elected members in Cross River State adding that she is ready to lead the Senate committee members to the creeks so they can have firsthand experience of their plights.

In a statement signed yesterday, the Bakassi leader argued that her people are still languishing in poverty and hopelessness in Dayspring where there is no food, no water, shelter or healthcare facilities in any form.

She noted that a real visit to Bakassi should be a visit to the creek where these vulnerable ones are camped without any government presence and that they are the reason why she has

been campaigning and calling on the Buhari-led administration to come to their rescue and build schools and other social amenities that will benefit the people.

Ita Giwa added that her people are exclusively fishermen and not farmers and as such, the Dayspring Island is the right place that fits their lifestyle and that it is the poor living condition of her people on Dayspring Island that the Bakassi Strike Force are fighting for.

The statement reads in parts: “I welcome and laud the development in Ikang, our host community but that is not a true reflection of the condition of the people in Bakassi. Did the senate committee cross over to where Bakassi people voted in Dayspring? There is still no water or any social facilities there and my people are suffering. The federal government must not be deceived. “If monies have been appropriated, it should be extended to where my people are in Dayspring and I am ready to lead the senate committee members to the creek to see with their eyes what my Bakassi people are passing through. The over 3000 refugees are almost hopeless and they are dying everyday.“I am using this medium to call on President Buhari to ensure the complete rehabilitation of my people in Dayspring and restore hope to them.”

CELEBRATING A LUCKY WINNER

L _R: Head , Retail Banking Businesses, Diamond Bank Plc, Rob Giles; Deputy Managing Director, Diamond Bank Plc, Caroline Anyanwu; Winner, Diamond Y’ello Promo, Linus Kwaghbo; Segment Analyst, MFS, MTN, Nigeria, Chigozie Amakeme; and Managin Director, Diamond Bank Plc, Uzoma Dozie, at the cheque presentation ceremony to winners of the Diamond Y’ello Refer and Win Promo in Lagos.....recently.

Paediatricians Advocate for Free Medical Care for Children and Pregnant Women John Shiklam in Kaduna The Paediatric Association of Nigeria (PAN) has called on governments at all levels to make access to medical service and treatment free for pregnant women and children under five.

The association also urged the federal government to allocate five per cent of the total budget to the health sector as prescribed by the World Health Organisation ( WHO).

Fielding questions from journalists at a press conference flagging off its 48th Annual General Meeting and Scientific Conference in Kaduna, the National President of the association, Dr. Ngozi Ibeziako, lamented the high rate of child motility in Nigeria, saying that globally, the country is rated second after India in child mortality.

She said the two-day conference

was aimed at focusing attention on the health of women and children with a view to finding solutions to the high rate of death among children.

She noted that many children in Nigeria don’t live to celebrate their first birthday and even those who live to celebrate their first birthday, many of them don’t live to celebrate their fifth birthday” a situation which, according to her is caused by lack of basic facilities and drugs in most of the primary health care centres.

Also responding to some of the questions, the President -elect of the association, a Prof. Augustine Omoigberale, urged the federal government to allocate more resources to the health sector.

“We have been advocating this year in year out. When you look at our budget, it does not meet the requirement of the World Health Organisation (WHO).

The requirement is that a

minimum of five per cent of the total budget should b e allocated to the health sector.

“In fact, in some developed countries they are rising it to 15 per cent. No government in this country has ever rise budget allocation to the health sector to more than 3 per cent.

“They government has the capacity to do it, it is the will power to do it that is lacking, but we believe this current government can do it,” he said.

Omoigberale maintained that in spite of the current economic

recession, government can afford to render free medical services to women and children under five years.

“Despite the recession that we are in, government can do it because out of the leakages that go on at various levels of government, if those leakages are blocked, the money recovered from the leakages can provide those services.

“Once government does that the mortality and morbidity of women and children will drastically reduced,” he said.

Dosekun Passes on Mrs. Folasade Eniola Dosekun is dead. She died on 20, January at the age of 90 after a brief illness. According to a statement by the family, the burial arrangements will be announced at a later date. She

is survived by her husband Prof. Akinsan Dosekun, Dr. Rotimi Dosekun, Ms Ayoola Dosekun, Ms Olatomijogun Dosekun, many grandchildren and great grandchildren, and was predeceased

by Olusiji Dosekun.

T H I S D AY WEDNESDAY JANUARY 25, 2017

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

Iwobi Nominated for Arsenal Player of the Month Award English FA reduces Carl Ikeme’s ban to two matches Duro Ikhazuagbe Barely days after Super Eagles’ forward, Alex Iwobi, missed the English Premier League award for African player, he has again been nominated for Arsenal Vitality Player of the Month of January.

The Gunners posted the list of players nominated for the award on its official website yesterday.

Iwobi was a standout player for the Gunners in the month of January. He scored Arsenal’s second goal in their 2-0 win against Crystal Palace at home.

The lad who is nephew of former Eagles mercurial midfielder, Austin Jay Jay Okocha, was again instrumental to three of Arsenal’s four goals in the 4-0 drubbing of Swansea.

The pacy Nigerian youngster is to battle for the honour with the trio of Olivier Giroud, Alexis Sanchez and Perez Lucas.

The deadline for voting is 10am (UK time) on Thursday, February 2.

Also yesterday, another Super Eagles star, Carl Ikeme, had his three-match ban reduced by the English Football Association.

The Wolverhampton Wanderers’ safe hands’ reprieve was confirmed on FA’s website following Ikeme’s club’s appeal.

The Nigerian goalkeeper was shown a straight red card for pushing Norwich City’s Wes Hoolahan in the 18-yard box during their Championship clash last Saturday.

Wolves lost the encounter 3-1.

However, after Wolves appeal, the FA ruled that Ikeme’s suspension had been reduced to two games instead of the initial three. It rejected Wolves appeal that the goalkeeper was wrongfully sent off from the game.

FA ruling reads: “Carl Ikeme’s three-match suspension for violent conduct has been reduced to two matches after acclaim of excessive punishment was successful.

“An earlier wrongful dismissal claim in relation to the Wolverhampton Wanderers Player’s sending off against Norwich City on Saturday January 2017 was rejected.

“Both claims were heard before an Independent Regulatory Commission today (Tuesday),” ruled the FA. Before yesterday’s ruling,

Iwobi... waiting to be crowned Arsenal best player of January Ikeme had in a tweet in his official handled bemoaned

Wes’ crude tactics of getting him sent off. He insisted that

he had no contact with him and that the Norwich player

simulated the fall to earn him the sacking from the game.

AIPS Africa Wants Partnership Sports Ministry Reshuffles Secretaries of Sports Federations The Federal Ministry of the postings.

FEAD. Liaison office while Onyeka with Okpekpe Race Youth and Sports yesterday According to her this Patrick Okeke, Clement Emeka Augustine, Birma Buba Hails organisers for AIMS recognition

President of Association Internationale de la Presse Sportive (AIPS, Africa), Mitchell Obi, is delighted the Okpekpe International 10km Road Race has been granted full membership of Association of International Marathons and Distance Races (AIMS) and pledges his association’s desire to partner the meet organisers to stimulate awareness about the race.

Obi, on behalf of all sports journalists in Africa congratulated promoter of the race, Mike Itemuagbor, for what he described as a landmark achievement and hopes for greater collaboration between the organisers of the race and AIPS (Africa). ‘’At the instance of all sports journalists in Africa please accept our deep congratulation for your landmark memberships of AIMS. It is a fitting testimony to your diligence and the communal strength and support engineered by you and your team to make Okpekpe International Road Race an event to behold annually,’’ wrote Obi in a message sent to the race organiser . ‘’We look forward to your effective anchor with AIPS Africa to stimulate greater

awareness and followership in the continent and beyond in the coming editions. We delight with your new status and once again felicitations,’’ he concluded.

The Okpekpe International 10km Road Race is the first and only IAAF label road race in Nigeria. By definition IAAF road race label events are races that the body designates as one of the leading road races around the world.

The race is also the only road race in Nigeria to have its race course measured by an accredited IAAF-AIMS Grade A or B measure expert.

Late last year an accredited IAAF-AIMS Grade B measurer, Mike Hughes, accompanied by Yususf Ali, technical official of the race were in Okpekpe to re-measure the course using the calibrated bicycle method, the only approved method for measuring road races.

This year’s race, the fifth edition will hold on Saturday May 13,2017 in Okpekpe, a town in Etsako East Local Government Area of Edo State, Nigeria. It is located about 25 kilometres northeast of Auchi.

The race is organised by Pamodzi Sports Marketing, leaders in sports marketing and hospitality business in Nigeria.

announced a reshuffle of National Federation secretaries.

A statement released

by Nneka Ikem Anibeze, Special Assistant to the Sports Minister, Solomon Dalung, said under the new dispensation, all six geo-political zones were taken into consideration in

is to achieve efficiency, professionalism, spread, equality and sustainability.

It said that under the new postings, Segun Oguntade, Olumide Bamiduro, Gloria Ekwempu, Ademu Elijah, Beyioku Niyi, Abobi Patrick and Olalekan Alabi were redeployed to the Federation and Elite Athletes Department

Iyaluegbehe, Ajao Olufemi, Ganiyu-Opolo Abidemi and Dapo Akinyele would move to Grassroots Sports Development.

Chinedu Ezealah, Thecla Opara and Iwang Israel would proceed to Sports Planning, Research and Documentation.

Uche Onwumeh and Mbora Ikana head to the Lagos

Ademu and Ogenyi Queen move to Human Resource Management.

In the re-deployment, a new set of ministry staff would be assigned to the federations, which hitherto were managed by those posted to the departments, while the others would move to other federations.

A C C E S S / L A G O S M A R AT H O N

Ambode Has Structure in Place for a World-class Race, Says Alli Though the 2017 Access Bank/ Lagos City Marathon slated for February 11, is still almost 17 days away, the General Manager, Marathon, Yussuf Alli, is confident Lagos will stage a world-class event even if the event is taking place tomorrow.

He said: “The Governor of Lagos State, Akinwumi Ambode, has been of tremendous assistance to the Organising Committee, we have put in place everything we need to do to organise a good race, from technical to events, security and others, I can assure all class of participants from elite runners to fun runners and charity runners that if the marathon is to take place tomorrow, we

are ready to stage a class a world-class event.’’

Alli who has been part of many international mega events including the 2003 All Africa Games hosted

by Nigeria in Abuja, said Governor Ambode had provided all the assistance needed including support from Lagos State Government agencies like LASTMA, KAI, LASSA and others.

He urged Lagosians to reciprocate the governor’s gesture by coming out in their hundreds and thousands to cheer the runners. He also urged Lagosians to obey road closure signals and show the positive side of of the state to thousands of visitors from within and outside the

country that would visit the city for the 2nd Access Bank Lagos City Marathon.

The general manager also implore runners, especially the fun runners and those running for charities to remember that the cut time is seven hours.

“Marathons worldwide have their cut off time, for some its five hours while others are eight or more but for our race the cut of time is seven hours.

The race starts by 7am and we expect the last runner to be at the finish by 2pm, peradventure a runner is not at the finish by 2 pm, medical officials will provide a vehicle that will transport such runners to the finish, we

urge all runners to obey and comply with their instructions as roads that are closed will be opened after the cut off time.’’

Alli

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Renard’s Morocco Eliminates Cote d’Ivoire Herve Renard came back to haunt his former team Ivory Coast as Morocco knocked the defending champions out of the 2017 Africa Cup of Nations yesterday night.

Renard’s Atlas Lions defeated the 2015 title winners 1-0 in Oyem in their final Group C match, sealing their progression alongside DR Congo into the quarterfinals.

The Elephants could only manage a third-place finish in the group, condemning them to an early exit from the tournament.

Cote d’ Ivoire enjoyed most of the possession early on, but it was Morocco who almost claimed the lead on 25 minutes when Faycal Fajr rattled the crossbar with a shot on goal from a free kick.

The North Africans seemed to come close to a goal again on the half hour mark when Mehdi Benatia saw an effort from a corner kick cleared off the goal line, but the defender had actually used his hand to redirect the ball and was duly booked for his offence.

Cote d’ Ivoire’s best chance arrived in the 37th minute when Salomon Kalou showed great vision and technical ability to put Wilfried Zaha into a shooting position, but the English-based attacker was denied by a fine save from Munir Mohand.

The Elephants also hit the woodwork shortly before half time when Kalou got on the end of a flick-on from Wilfried Bony, but his header from a tight angle hit the outside of the post and Mohand appeared to have it covered regardless.

The West African nation appeared to have momentum behind them in the second half, but on 64 minutes the Atlas Lions broke the deadlock with a brilliant long-range curler from substitute Rachid Alioui to put one foot in the quarterfinals.

The Elephants experienced only frustration in their attempts to come back into the game, with Renard’s Morocco unyielding in defence to secure a famous victory.

Algeria Coach, Leekens, Quits after Elimination Algeria Coach, Georges Leekens, yesterday resigned following the team’s early exit from the Africa Cup of Nations.

The Fennecs were one of the pre-tournament favourites but were knocked out of the finals on Monday night after failing to win a game in Gabon.

“For the good of all I decided to quit even though I do it with heartache,” Leekens told the Algerian Football Federation website.

“I wish all the success in the world to the national side.”

The 67-year-old Belgian was appointed to the role only in October, for what was his second spell in charge following a four-month stint in 2003.

He had been expected to take Algeria deep into the latter stages at least in Gabon, coaching a side that contains BBC and CAF African Footballer of the Year Riyad Mahrez and his Leicester team-mate Islam Slimani, Porto’s Yacine Brahimi and Napoli’s Faouzi Ghoulam.

But the team underperformed at the tournament, beginning their Group B matches with a shock 2-2 draw with Zimbabwe - in

Leekens

which they scored an 82ndminute goal by Mahrez to rescue a point.

That was followed by a 2-1 defeat by their North African Neighbours Tunisia, which left them needing to beat Senegal in their final match on Monday to have any chance of making it to the quarter-finals.

But they were held 2-2 by a reserve Senegal side, who had already won the group before the match, and suffered an embarrassing elimination.

Algeria is also struggling to qualify for the 2018 World Cup in Russia.

The Fennecs are bottom of Group B - which also contains Nigeria, Cameroon and Zambia - after two matches, having drawn one and lost one.

Only the group winners go through and they already trail Nigeria by five points.

“Given the pressure on the federation and the national team, I preferred to end my contract out of friendship for the president of the FAF (Algerian Football Federation) who deserves respect,” Leekens added.

Leekens was Algeria’s third coach in a year, following on from Milovan Rajevac and Christian Gourcuff.

Nabil Dirar of Morocco (left) challenged by Simon Deli of Cote d’ Ivoire during the 2017 Africa Cup of Nations Finals match between Morocco and at the Oyem Stadium in Gabon... yesterday

DR Congo Eases into Q’finals as Adebayor Leads Hawks Home Democratic Republic of Congo thrashed Togo 3-1 in an enthralling 2017 Africa Cup of Nations game played on Tuesday night.

The final Group C encounter took place at the Stade de Port-Gentil in the Gabonese city of Port-Gentil.

As a result DR Congo finished top of the group and they advanced to the quarterfinals, while Togo bow out of the tournament after finishing fourth in the group.

The Leopards fired the first warning just 16 minutes into game when Junior Kabananga unleshed a powerful shot

which was well-blocked in the Togo box.

Togo were dealt a major blow in the 23rd minute when their goalkeeper Baba Tchagouni went down injured and he was replaced by Cedric Mensah.

However, the substitute shot-stopper was beaten five minutes later following Sparrow Hawks midfielder Ihlas Bebou’s mistake in the midfield.

Chancel Mbemba then sent a through-pass to Kabananga, who fired home to make it 1-0 to DR Congo - netting his third goal of the tournament in the process.

It should have been 2-0 in the 43rd minute, but fortunately for Togo, Kabananga’s looping header crashed against the far-post.

The Leopards were deservedly leading 1-0 at the halftime break thanks to in-form striker Kabananga, who plays for Astana in Kazakhstan.

Just nine minutes into the second half, DR Congo received a gift from Mensah whose poor clearance found Marcel Tisserand, who then set-up Firmino Mubele.

The Congolese striker made no mistake as he lobbed across and over Mensah to make it

2-0 to the Leopards, much to the delight of the Leopards fans.

However, the Sparrow Hawks did pull one back through substitute Kodjo Fo-Doh Laba, who scored with his first touch to make it 2-1 in the 69th minute.

Nevertheless, another substitute Paul-Jose ‘Poku sealed DR Congo’s 3-1 win in the 80th minute with a welltaken strike from a free-kick just outside the Togo box.

DR Congo will now take on Group D runners-up in the quarterfinals on Sunday, while Togo are knocked out of this year’s tournament.

Real Madrid Logo Won’t Feature Christian Cross The club crest of Spanish soccer team Real Madrid will not feature the traditional Christian cross on clothing sold in some Middle East countries under a regional deal.

Marka, a retailing group in the United Arab Emirates, has been granted exclusive rights to “manufacture, distribute and sell Real Madrid products” in the UAE, Saudi Arabia, Qatar, Kuwait, Bahrain and Oman, the company said in a statement on Tuesday.

But Marka Vice Chairman Khaled al-Mheiri told Reuters by phone Real Madrid has two versions of the crest for the Middle East market and that Marka would use the one without the Christian cross due to cultural sensitivities.

“We have to be sensitive

towards other parts of the Gulf that are quite sensitive to products that hold the cross,” said al-Mheiri, who owns a Real Madrid cafe in Dubai.

The six Gulf Arab countries where Marka will sell and distribute Real Madrid products are all Muslim-majority.

The redesigning of the crest would require only a minor change. The original features a very small Christian cross at the top of a crown on the crest.

The agreement allows Marka to sell clothing such as t-shirts, polo shirts and swim wear featuring the Real Madrid name and crest.

Sales will start by March, al-Mheiri said.

The deal does not cover replica jerseys, which are sold in Dubai featuring the

cross.

Real Madrid did not immediately respond to an emailed request for comment.

But it is not the first time the symbol has been altered.

In 2014, Real Madrid removed the Christian cross

from its crest when used by its sponsor the National Bank of Abu Dhabi .

Dubai-based airline Emirates is Real Madrid’s main shirt sponsor, while the club is also sponsored

by Abu Dhabi investment fund IPIC.

The Real Madrid Crest... (left) with the cross. (Right) without the cross

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N P F L … N P F L … N P F L …

Onyeali PredictsTough‘Abia Derby’in Umuahia

MFM FC players waiting for the midweek battle in Ibadan with 3SC Abia Warriors attacking midfielder Ifeanyi Onyeali has predicted a difficult ‘Abia derby’ against former Nigerian champions Enyimba.

The Umuahia Warriors will host the two-time African champions in

Wednesday’s Nigeria Professional Football League (NPFL) matchday 4 clash at the Umuahia Township Stadium.

Onyeali said his side will make Enyimba pay for the three points the Umuahia outfit lost at top-flight

newcomers Remo Stars in Sagamu.

“The clash is a local derby and predictably it’s not going to be easy but we are going to win.

“We just lost three points at Remo Stars and somebody must pay for

the loss.

“Unfortunately, Enyimba are up next, so they must pay for the painful defeat.

“Besides, we need the three points more than Enyimba.

“We will then head off to Jos to confront our former

coach, Kennedy Boboye’s side, Plateau United.

“Victory in the clash against Enyimba will serve as huge morale boost going forward to confront Plateau United.

“We are not happy with the manner in which we lost

the clash at Remo Stars and we have vowed to make amends immediately,” said the former Bussdor United goal poacher to supersport. com.

Warriors have six points in their kitty from a possible nine, the same as Enyimba.

MFM’s Olatunbosun, Adekunle Seek 3SC Scalp in Ibadan Calhanoglu Breaks Bayer duo of Mountain of for MFM FC in the ongoing 3SC,” the skillful left-winger perturbed.

Penalty Curse as Bundesliga The Fire and Miracles Ministries Nigerian top-flight scoring a stated.

“An outright victory is all Football Club strikers, goal each and creating three The Lagos-based outfit we are gunning for, we have Olatunbosun Sikiru and assists said they are ready failed to record a point last a squad capable of inflicting Resumes on StarTimes Adegboyega Adekunle are to fight for their first ever season in the South-west defeat on any team in the

Hakan Calhanoglu finally broke Bayer Leverkusen’s penalty curse this season with the first of his two goals in Sunday’s 3-1 Bundesliga win at home to Hertha Berlin.

The result lifts Leverkusen to eighth while Hertha finish the weekend dropping from third to fifth. Leaders Bayern Munich maintained their three-point lead at the top of the table with a 2-1 win at Freiburg on Friday thanks to two Robert Lewandowski goals. All the matches were live on StarTimes pay tv channels.

The Turkish international winger drilled home from the spot on 36 minutes to put his side 2-0 up – holding his nerve after Leverkusen had failed to convert all five spot-kicks they had been previously awarded this season.

Calhanoglu, who had a penalty saved in November’s 3-2 defeat to RB Leipzig, slotted home after a handball from Berlin defender Marvin Plattenhardt on a Julian Brandt cross.

“I am very relieved. I could feel a bit of pressure, but I know I can score penalties,” said the 22-yearold Calhanoglu, who scored his first double in the Bundesliga.”

Leverkusen took the lead in scrappy style at the BayArena when Turkey defender Omer Toprak stabbed home on 12 minutes after Javier Hernandez had failed to connect with his shot.

Calhanoglu’s penalty made it 2-0 before Berlin’s Swiss midfielder Valentin Stocker pulled a goal back just before the break when he fired home at the post from a corner and it finished 2-1 at the break.

Berlin’s USA international John Anthony Brooks then cleared Hernandez’s header off the line on 57 minutes, which means “Chicharito” has now gone 1 200 minutes without scoring for Leverkusen.

His last goal was in a 2-0 win over Dortmund on October 1.

At the other end, only a superb save from Leverkusen goalkeeper Bernd Leno denied Hertha striker Vedad Ibisevic from close range with 25 minutes to go.

After going on a three-week winter break, the Bundesliga, which is the league of the current world champions, Germany resumed to highoctane football drama as the teams scramble to unseat champions Bayern Munich from the top of the table.

A statement from StarTimes said they were poised to continue delivering top-notch football action from the best leagues from around the world.

“We remain committed to giving our esteemed customers and viewers the best live football action from top European leagues and the resumption of the Bundesliga will further add value to our viewers delight”.

seeking for their first away victory of the season against Shooting Stars Sports Club (3SC) this midweek in Ibadan.

The ‘Olukoya Boys’ are guests to the Oluyole Warriors at the Lekan Salami Stadium, Adamasingba in today’s NPFL Match-Day 4 clash tagged the ‘South-west Derby.’

Olatunbosun and Adekunle who have been instrumental

NPFL away win against the Ibadan-based outfit.

Sikiru said: “An interesting game awaits us in Ibadan, it will not be an easy one but then we have to do everything within our reach to at least have a share of the three points.

“We didn’t have it good last season against Shooting but this term we want to prove to people that we can beat

Derby but Adegboyega believes his side is capable of putting an end to the winless streaks against Shooting Stars.

“Our eyes are set on the three points, Shooting Stars have been having the edge over us in the NPFL. We understand the fact that it’s a derby game and they will want to make some statements in front of their home fans but we are not

league and 3SC are not exempted.

“The fact that they lost their two consecutive away games will put them under pressure. All we need to do is to contain them and take our chances,” he concluded to the club’s website.

Coach Fidelis Ilechukwu and his charges have amassed six points from three NPFL matches this season.

Fireworks Expected in Nnewi as Ifeanyiubah Takes on Rivers Utd Another special treat awaits followers of the Nigeria Professional Football League (NPFL) this afternoon as two of the most exciting sides in the land, FC Ifeanyiubah and Rivers United square up in one of the glamour ties of the round.

The FC Ifeanyiubah Stadium, Nnewi is the arena for today’s game which will see two of Nigeria’s representatives in CAF’s inter-club competitions battle for supremacy.

FC Ifeanyiubah’s home form is fearsome to say the least. They totally outclassed high-flying MFM FC 4-0 in the only game played in front of their vociferous supporters thus far.

Head coach, Yaw Preko is spoilt for choice in a squad teeming with quality personnel.

Captain Ikechukwu Ezenwa remains one of the best goalkeepers in West Africa

while Valentine Nwabili, Onyekachi Akakem, Elu Wilson and Stephen Eze make up an extremely impregnablelooking ‘back four’.

In Madrano Tamen, FCIU possess probably the most naturally-gifted playmaker in the land while Kone Yaya, Jimoh Oni, King Osanga and the enigmatic Prince Aggrey represent threats from midfield and up top.

Seka Paschal and the Brazilian, Alberico Da Silva can also influence issues as impact substitutes while new addition, Ifeanyi Onuigbo comes with bags of experience.

Rivers United forward, Maduabuchi Okereke knows the inner workings of FCIU quite well having played for the Anambra Warriors last term.

He insists that the Pride of Rivers will be vanquished unless they play the perfect game on Wednesday.

“I know most (of the FCIU) players very well and I have spoken to some ahead of this game.

“They are eager to beat Rivers United just as they did last season and if we don’t play a perfect game, I don’t think we can avoid defeat because they are very determined and have very good players.

“Last season, I played against Rivers United (in Nnewi) and I did well (he grabbed the assist for the first goll of the game that finished 2-0).

“Now, I face my former club and my expectation is to do much better than I did last season,” he told the club’s official website, www. riversunitedfc.com.ng.

While FCIU appears to be the overwhelming favourites on paper, United, unbeaten in their last NPFL matches, have been flying under the radar

and quietly and effectively going about their business.

The Port Harcourt club has been effective if not spectacular this term and is just one of three unbeaten sides in the NPFL. Wednesday’s game against FCIU however represents their sternest test thus far but club captain, Festus Austin is making the right noises and understandably so.

“Last season’s visit to Nnewi was not a good one for us but we know what is at stake for us.

“We just have to improve on our performances away from home.

“The objective is to at least avoid defeat in Nnewi,” he said.

Wednesday’s contest promises to be fascinating and intriguing; the force of nature up against the immovable object – surely, something has to give.

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T H I S D AY • WEDNESDAY JANUARY 25, 2017

WEDNESDAYSPORTS

AUSTRALIAN OPEN

Venus Hits Semis, First Time in 14Years!

Venus Williams reached the Australian Open semifinals for the first time in 14 years with a straight-set win over Russia’s Anastasia Pavlyuchenkova.

Williams, the 13th seed, saw off 24th seed Pavlyuchenkova 6-4 7-6 (7-3) in the first of the quarter-finals.

The 36-year-old American has never won the title, her best effort a runner-up finish to sister Serena in 2003.

She goes on to face unseeded American Coco Vandeweghe, who thrashed Spain’s seventh seed Garbine Muguruza 6-4 6-0.

Vandeweghe, 25, followed up her win over world number one and defending champion Angelique Kerber with a crushing defeat of French Open champion Muguruza.

“I really wasn’t feeling all that great out there, I was feeling kind of nervous,” said Vandeweghe.

“I just tried to play my best, stay within myself, keep my patterns. I fought through a few break points on her serve, kept on the pressure in the first set and then she finally cracked.

“Once I got rolling in the second it was like a freight train. You couldn’t stop it.”

Williams, meanwhile, dropped serve four times against Pavlyuchenkova but was much the stronger in the decisive moments, becoming the oldest woman to reach a Grand Slam semi-final since Martina Navratilova at Wimbledon in 1994.

“I’m so excited. Today was such a hard-fought match.

She never let up,” said the seven-time Grand Slam champion.

“It’s wonderful to be here at the start of the year. I want to go further. I’m not happy with this.

“I try to believe. Should I look across the net and believe the person across the net deserves it more?

“This mentality is not how champions are made.

I’d like to be a champion, in particular this year. The mentality I walk on court with is: I deserve this.”

Today, Serena Williams will play Britain’s Johanna Konta at about 02:00 GMT, following the match between Czech fifth seed Karolina Plisokva and Croatia’s Mirjana Lucic-Baroni.

Venus... in Cloud Nine

Konta Set to S’final Feat Surprises Federer Stop Serena Britain’s last remaining singles hope in Melbourne, Johanna Konta continues her pursuit of a maiden Grand Slam against Serena Williams But when Johanna Konta and Serena Williams also at the Rod Laver Arena, gets underway in the second match early session, the Briton’s task is unenviable as she hopes to end Serena Williams’ push for a 23rd Grand Slam in Melbourne.

But the in-form 25-year-old has a huge chance – and this duel has all the ingredients for a classic. Both players are yet to drop a set, with the winner expected to storm on and clinch the title.

Williams’ coach Patrick Mouratoglou called Konta ‘someone who plays so fast, so aggressive, takes the ball early. It will be difficult.’

Australian coach Pete McCraw recalls the day when a young Jo Konta skipped lunch during training sessions at Melbourne Park to practise a new grip he had taught her.

When she was 11, he found her out by a hitting wall beside the complex’s Court 3, and asked why she was not sitting in the cafe with her cohort.

‘Because one day I want to play on this court,’ she replied.

That was before she emigrated to the UK in

her early teens, and this determination to succeed means she has gone way better than Court 3.

When asked about upcoming opponents, Williams sometimes either does not know them, or affects not to know them. Konta’s reputation is burgeoning at a rate that she made no such pretence this time.

‘I have watched her a lot.

She’s been doing really, really well,’ said Williams. ‘She has a very attacking game. I know her game pretty well.’

Konta dismissed world No 34 Ekaterina Makarova 6-1, 6-4 on Monday, extending her winning streak to nine matches. Williams was made to struggle more by tricky Czech Barbora Strycova before winning 7-5, 6-4.

In another tough match of the day, Rafael Nadal faces Milos Raonic under the floodlights for a semi-final spot While Mirjana Lucic-Baroni makes her first Grand Slam quarter-final appearance in 18 years against Karolina Pliskova When Rafael Nadal takes on Milos Raonic at Rod Laver Arena, in the morning session, pundits are already looking towards a Roger-Rafa reunion.

Konta

Serena

Seventeen-time Grand Slam winner Roger Federer has said that he did not expect to reach the Australian Open semi-finals after a six-month injury lay-off.

The four-time champion in Melbourne is making his competitive return after last playing at Wimbledon in July.

Federer beat Mischa Zverev 6-1 7-5 6-2 to set up tomorrow’s last-four match against fellow Swiss Stan Wawrinka.

“Feeling as good as I am, playing as good as I am, that’s a huge surprise to me,” said the 35-year-old.

“For Stan, yes, but not for me. I honestly didn’t even know a few days ago that he was in my section of the draw or I’m in his section.”

Federer, who has not won a Grand Slam title since triumphing at Wimbledon in 2012, had been sidelined by a knee injury throughout the second half of last year and has slipped from third in the world to 17th.

He played in the nonranking Hopman Cup in Perth earlier in January, but has come through 18 sets in Melbourne.

“I think winning back-toback matches in best-of-five sets against quality, great players has surprised me most,” he said.

“Really that’s been for me the big question mark, if I could do that so early in my comeback.

“I felt I was always going to be dangerous on any given day in a match situation. But obviously as the tournament would progress, maybe I would fade away with energy, you

know, that kind of stuff.”

Federer and Wawrinka last met at the 2015 ATP World Tour Finals, with Federer winning 7-5 6-3 Federer holds an 18-3 winning record against Wawrinka, but the 31-year-old will go into the semi-final as the world number four and looking for a second consecutive Grand Slam title after last year’s US Open success.

Federer has won their past two meetings, at the ATP World Tour Finals and in the US Open in 2015, but Wawrinka holds a Grand Slam win against his Davis Cup team-mate, coming in the quarter-finals

Federer

of the French Open in the same year.

“Against Roger, it’s always special because he’s so good. He’s the best player of all time,” said the three-time Grand Slam winner.

“He has an answer for everything. But I managed to beat him in a Grand Slam, so we’ll see.

“It’s great to see him back at that level.

Hopefully I can manage to play a great match.”

All of Wawrinka’s three Grand Slam titles have come since Federer won his last five years ago.

And Wawrinka’s rise to becoming a consistent

top-10 player did not come until he was aged 28, and after plenty of help from his fellow Swiss.

“I remember giving Stan a lot of advice on how he should play certain guys,” said Federer.

“Then the day came where he didn’t call me so much any more. He called me less and less.

“I also felt like I didn’t tell him any more, because he created his knowledge, his base, had his team.

Only from time to time would I give him advice if he asked me.

“Otherwise I was happy that he was able to let go and go on his own path.”

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Wednesday January 25, 2017

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Sultan Abubakar 111 to 19 Northern Governors F

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”We believe, one of the numerous reasons why violence continue to thrive in our midst is the impunity that is allowed to thrive in our midst. Nobody is punished for criminal wrong doings they commit” – Chairman of the Northern Traditional Rulers’ Council and the Sultan of Sokoto, Alhaji Sa’ad Abubakar III lamenting over the mindless killing of innocent citizens by suspected Fulani herdsmen in Southern Kaduna and environs.

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FEMIFALANA GUEST COLUMNIST

Illegality of the Offence of Criminal Libel

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ast December, the Nigerian Army demanded a retraction of the what it described as the ”unwarranted and serial provocative, unauthorized, libelous and defamatory publications against the person of Lt. Gen. T.Y. Buratai, the Chief of Army Staff and Nigerian Army counter insurgency operations in the North East” from the publisher of the Premium Times, an online medium. Convinced that the publication could not be justified, the Army threatened to sue for libel. In a detailed reply to the letter, the counsel to the Premium Times, Mr. Jiti Ogunye, called off the bluff of the Army. Apart from rejecting the demand for a retraction, he asked the Chief of Army Staff to apologise for threatening to violate the constitutional rights to life and freedom of expression of his client’s staff.

Instead of carrying out its threat to file a libel suit in a High Court, the Army lodged a complaint with the police. And without any investigation whatsoever, the police invaded the Abuja office of the online publication and took away its publisher, Mr Dapo Olorunyomi, and judicial correspondent, Evelyn Okakwu, to the headquarters of the Federal Capital Territory Police Command. As soon as they denied the charge of criminal libel slammed against them, both suspects were granted bail pending the filing of a charge in a Magistrate Court.

But after a careful perusal of the allegation and a critical review of state of the law on press freedom, the Police decided not to file any charge in court. The police officers became peacemakers as they advised the parties to engage in an amicable resolution of the criminal complaint. Although the criminal allegation was dropped by the Police, it is germane to examine the constitutional validity of the offence of criminal libel. More so, that top public officers have a penchant for instigating the police to intimidate journalists and media houses for writing stories which are considered embarrassing or defamatory.

Under the British colonial regime, the fundamental rights of Nigerians were brutally suppressed. In order to deny the natives access to vital information on the ruthless exploitation of the resources of the country by the foreign plunderers, the divulging of information pertaining to the affairs of the government was a serious criminal offence under the Official Secrets ordinance. The penalty for the offence was 14 years imprisonment without any option of fine.

As if that was not enough, the criminal ordinance provided for sedition and criminal libel to prevent the natives from criticizing the abuse of powers by colonial administrators. While sedition is the offence of bringing into hatred or contempt or exciting disaffection against the person of the President or Governor or the Government, criminal libel is any defamatory matter likely to injure the reputation of any person by exposing him to hatred, contempt or ridicule or likely to damage the person in his profession or trade by an injury to his reputation. Unlike civil libel whose proof in court may attract monetary damages in favour of the plaintiff, the penalty for the offence of criminal libel is imprisonment for one year.

The British colonial regime charged many Nigerian workers and youths with sedition and criminal libel for demanding for independence or protesting against discriminatory treatment of Africans. In particular, the leading cadres of the radical Zikist Movement were convicted for sedition for calling for a revolution in Nigeria.

Thereafter, the patriotic youths were regularly

Chief of Army Staff, Lt. Gen. Tukur Buratai jailed to prevent them from imparting knowledge and sharing information with the people on the need to shake off the yoke of imperialism.

Notwithstanding that the country gained political independence from the alien regime in 1960, the local political class retained all repressive colonial laws with the connivance of a timid judiciary.

Hence, in Chike Obi v DPP (1961) ANLR 186 the Supreme Court held that the sedition law was reasonably justified in a democratic society. Barely 5 years later, the military adventurers who seized power from the nationalist politicians suspended the Constitution and put fundamental rights in abeyance. Newspaper houses were shut down at will while journalists and public commentators were detained under preventive detention decrees.

Two journalists were killed through parcel bomb while not less than 10 others were jailed for publishing the list of ambassadors and for writing stories on phantom palace coup d’e tat.

Although Dapo Olorunyomi was driven to exile, his wife, Ladi was held hostage and detained in a military custody for several months by the security forces.

However, out of all the military dictators who ruled the country, only the late General Murtala Muhammed refused to intimidate journalists. In the wake of his crusade against official corruption, the publisher of the African Spark magazine, the late Dr. Obarogie Ohonbamu, accused the military ruler of having engaged in illicit acquisition of properties during the civil war. In spite of pressures from his colleagues and the security forces, the head of state refused to order the detention of his accuser. The publisher was however charged with criminal libel before the Lagos High Court.

Convinced of his innocence, General Mohammed had waived his immunity to give oral testimony in the case. But for his assassination during the pendency of the case, his evidence would have demystified the secrecy that has continued to surround the declaration of assets and liabilities of public office holders in Nigeria. The case was eventually withdrawn and struck out following Dr. Ohonbamu’s retraction of the allegation.

Upon the return of the country to democratic rule in 1979, the Constitution imposed a duty on the media to ensure that the government was accountable to the people at all times by upholding the fundamental objectives contained thereof. In recognition of the fact that citizens could not promote accountability and transparency in

government without access to information, the fundamental rights of every citizen to freedom of expression, including the right to hold and impart ideas were enshrined in the Constitution.

But some public officers have continued to use the machinery of the State, albeit illegally, to intimidate their political opponents by applying the provisions of anti-media statutes.

Thus, in Arthur Nwankwo v. The State (1985) 6 NCLR 228 the defendant was charged with sedition under section 51 of the Criminal Code before an Onitsha High Court for publishing a book, which had alleged corrupt practices under Governor Jim Nwobodo of former Anambra state.

The appellant was convicted and sentenced to one-year imprisonment. But the conviction and sentence were set aside by the Court of Appeal on the grounds that the offence of sedition is illegal and unconstitutional, Speaking for the court, Olatawura JCA held inter alia: “We are no longer the illiterates or the mob society our colonial masters had mind when the law was promulgated…To retain S. 51 of the Criminal Code, in its present form, that is even if not inconsistent with the freedom of expression guaranteed by our Constitution will be a deadly weapon to be used at will by a corrupt government or a tyrant…Let us not diminish from the freedom gained from our colonial masters by resorting to laws enacted by them to suit their purpose.”

The laws enacted by “our colonial masters” and imposed on the country include the Official Secrets Act and the provisions of the Criminal Code relating to sedition and criminal libel. As criticism is indispensable in a democratic society, Olatawura J.C.A charged the Nigerian people to defend their hard won freedom of expression at all times. According to his lordship: “The decision of the founding fathers of this present constitution which guarantees freedom of speech which must include freedom to criticize should be praised and any attempt to derogate from it except as provided in the Constitution must be resisted. Those in public office should not be intolerant of criticism. Where a writer exceeds the bounds there should be a resort to the law of libel where the plaintiff must of necessity put his character and reputation in issue.”

Since the judgment of the Court of Appeal in Nwankwo v The State supra is binding on all authorities and persons in Nigeria, it is submitted that the resort to criminal libel and sedition by public officers to settle scores with critics and political opponents is illegal in every material particular. However, public officers who feel offended by any defamatory publication are not without remedy. They have been rightly advised by the Court of Appeal to defend their reputation and bruised ego by suing for libel in a court of law.

In Mallam Ismaila Isa & 5 Ors. v. President (2009-10) CHR 166 the Federal High Court struck down several provisions of the Nigerian Press Council Act on the grounds that they were censorial and capable of being used by the authorities to restrict the right to freedom of expression guaranteed by Section 39 of the Constitution.

In view of the settled legal principles on freedom of expression, it is indisputable that the provisions of the Criminal Code on the offences of criminal libel and sedition are inconsistent with Section 39 of the Constitution and Article 9 of the African Charter on Human and People’s Rights Act. To the extent of such inconsistency both offences are illegal and unconstitutional. Indeed, the capacity of

the Nigerian people and particularly the media to promote public accountability has been enhanced by the Freedom of Information Act of 2011 which has imposed a duty on all public institutions to facilitate access to information in the custody of the government.

It is not unlikely that the authorities of the Nigeria Police Force realized, rather belatedly, that the offence of criminal libel could not be sustained in court under the current democratic dispensation. Hence, the publisher and editor of the Premium Times were not arraigned in court last week based on the complaint of the Chief of Army Staff. Apparently embarrassed that the Police authorities decided to wash off their hands like Pontius Pilate the Army has issued a fresh threat to sue the Premium Times for libel in a civil court.

It is pertinent to point out that the current trend in democratic countries is to repeal anti press laws. For instance, in January 2010, the British Parliament abolished the offences of sedition and seditious libel, defamatory libel and obscene libel. Since we always weep more than the bereaved, we have retained the said criminal offences, which were imposed on the country by the British colonial dictatorship over a century ago. In the same vein, some African countries have seen the wisdom in repealing all undemocratic laws, which are in conflict with the bill of rights entrenched in the post-colonial constitutions.

About five years ago, the Parliament of Ghana acceded to the demand of the media by repealing all criminal laws which had violated press freedom and freedom of expression. In making a case for the repeal of such laws the Ghanaian media had urged the Parliament to consider the reasoning of the Justices of the Nigerian Court of Appeal in Nwankwo v The State supra. Persuaded by the judgment and similar judicial authorities which have upheld the fundamental right of freedom of expression in Africa the Parliament decriminalized press freedom in Ghana. Notwithstanding the progressive stand of Nigerian courts in upholding the right to freedom of expression it is time the Nigerian media mobilised the National Assembly to further expand the democratic space in the country by decriminalizing all anti media legislations.

Finally, since the Army has resolved to seek remedy in a civil court, the Premium Times publisher should be prepared to justify all the publications which are alleged to have embarrassed the Chief of Army Staff. But the attention of both parties ought to be drawn to the case of J.S. Tarka v Sketch (unreported) Suit No. CCHJ/2/78 of February 1978. The plaintiff, a powerful federal commissioner for communication under the Yakubu Gowon regime, had sued the defendant in the Lagos High Court for publishing the allegation of a businessman, Godwin Daboh, that he had used his official position to engage in unjust enrichment. The newspaper justified the entire publication. In dismissing the case the learned trial judge, Candide-Johnson J. (as he then was) had this to say: “The journalistic slogan is ‘Publish and be damned’, but how many practicing journalists have the courage to take up the challenge of the slogan? Where therefore one finds practicing members of the profession like the Editor of the Defendant and his team mates who have the courage to publish and comment on such grave issues of public concern and interest as shown on the relevant page of Ex. 2, they deserve an accolade.”

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